The Birmingham age-herald., 1924-01-30
STEEL COMMON
 DIVIDEND RAISED
Action Not Announced Till Mar ket's ClOse-American Can
 Makes New High Price

S.mtendencies prevailed during the greater M mart of today's stock market but the sssxsxeneral list was headed upwards to- F w wards the close, under the leadership | of American Can, which touched 1194. V the highest price ever recorded. Last
 minute profit taking sent the price A. back to 1177s, where 1t was up 3ss on
 ~ the day. Both industrial and railroad sy. averages showed slight losses on the <, day, with sales again running well
 <. over the million mark.
 ~ Declaration of extra dividend or r7vb0 cents on the common stock or the United States Steel Corporation as com pared with an extra 25 cents the last sF quarter was not announced until after KEAhe market closed. Wal, Street appar- { v sntly had not been expecting an in | & crease in the extra, because the stock
 closed at 103A, or E below yesterdays S final figure. Total earnings of the cor ' poration in the last quarter of 1923, | ,s- which amounted to nearly $50 0e0.O00, r.salso exceeded earlier estimates, many V of which had counted on a figure be- { Tow the SAT, ,0Oo, 900 total of the previous quarter: strength of Erie hie,ss, common, mon
 since 1917, featured the railroad list Wisconsin Central moved up a point r and Southern Railway, Baltimore and seh Ohio and Great Northern preferred 1m- proved fractionally.
 f. aErratic fluctuation> took place irs
 number of the high priced speciSitMs
 which market observers found hard to
 explain. General Electric fluctuated g .ebetyyeen 210 and 215A, closing at 2125s
 fora net loss og Is. Famous Players
 closed points lower at 61&, after sell -zz-tng between 61 and 64b. Davison Chem
 icai broke from 54tz to AS and then ral- A lied to 52k, off s. American Wooen
 was again under pressure, selling as
 low as 71fs and closing a point higher
 for net loss of 1 F on the day. Bald
 xyin a 1o25a. after
 having sold high as 125. Corn
 Products dropped from 1854 to 179 s5Affd then rallied to 1s31a. up 1 on the as.hay.
 from recent heaviness, American Az fftedltural Chemical preferred jumping I AnoFe than 4 points and Virginia-Car- s-clina Chemical preferred E. Domestic sfssversely affected by the testimony be- xS1sxfere the Senate Investigating naval oil Preserve leases displayed firm under
 store. Houston closed 15h and Pacific % tpuched 56h, highest since 1922. Some Ess$nf the other strong spots were United & Etates Alcohol which has been heav- &zss2 2ifYs bought on speculative expectation 0HssAfsa resumption of dividends: Omaha, which advanced 41a points on rumors Arss sssofga possible merger with Chicago and Ek&.t1srthwestern, and Sears Roebuck, ~ which advanced more than point in N reflection of increased earnings. sE Gall money ruled unchanged at A. s 5 per cent. the higher renewal rate being attributed to month end requirements. &N Time money was quoted at Az to 4& l with little business transacted Commer- sss cial paper was unchanged, prime names %Escommanding 4S4- Ew settlement of the British railroad %ssssstrike caused further strengthening of 1 &.~ sterling exchange, demand bills being &@seauoted cent higher at s4.26. Other Eu- $sropean rates improved in sympathy. Total stock sales. ,000 shares. Twenty induStrialS averaged q9 76: net
 loss, IT.
 Twenty railroads averaged s4.72;~net
 High, 1928: so51; low, 1853.
 ss. LONDON MONEY
 = LONDON, Jan. 29.-Bar silver, 33ss sGlpence per ounce; Money, 2ss per cent. 4s=spiscount rates, short bills, 35-16933s
 per cent; S-month bills, 37-16 per cent. TssA@ FOREIGN EXCHANGES ssssas NEW YORK, Jan. 29-Foreign ex-
 changes easy. Quotations in cents:
 cables, 4 .25 15-16; 6o-day bills on banks
 4.23 7-16. France demand, 45s; sseabies. 45sls. Italy, 4.S5@4.S5la Bel IF 02s@o @ooooooo0Oo25; Holland, s7.22; Nor f way, 1874; Sweden. 26.25; Denmark, 1924; Switzerland 1727; Spain, 1275. Greece. 1.95; Poland. .o0o013; Czecho- slovakia, 2ss; Jugoslavia, 1,15; Aus tria, .o014; Rumania, .50&; Argentina, s2.s7; Brazil, 1O.s7; Tokio. 45; Mon treal, 97 3-32.
 CALL MONEY
 NEW YORK, Jan. 29.-Call money easier; high, A; low, A.; ruling rate, 4h; closing bid A. offered at A; last loan, Az; call loans against accept snces, 4. Time loans easy; mixed col lateral, SO and 90 days. Az 64%; 4 and months, 4is@4a; prime comntercial 4A@5
 FOREIGN MONEY q NEW YORK, Jan. 29.-Bar silver, 2 6Sls; Mexican dollars. 4S1s, I