The Birmingham age-herald., 1924-03-08
DAYS ]! BUSINESS
 YEAR'SLIGHTEST
Marked Strength Is Shown By High-P Specialties Dur
 ing Session

NEW YORK, March 7.-Except' for the marked strength shown by some Of the high-priced specialties. particu- iariy chain store issues, trading in to- days stock market was of a rather desultory character. The volume of business was the smallest for any full day session this year. <t'
 Bear traders. who have been meeting stubborn resistance in their efforts to depress the market, were more suc- cessful today.
 Pools were active in a few issues. Estimates of the size of the short in- terest In the market placed 1t only 10 per cent below the record figures of October, 1923, prior to. the recent ex- ! tended advance. Brokers loans were estimated' at $1 ,s75 900 900, or $475,ooo,- 900. below those of year ago.
 Standard industrial stocks, such as United States Steel common, Baldwin, Studebaker and American Can, moved within narrow and irregular limits to- day, showing only small fractional sales of all four issues totaled less than 50.000. shares.
 F. w. Woolworth was the individual feature. jumping 11A points, to 321, nrecord top for all time, in further re- Election of the recent increase in sales and earnings, This makes 1t the high est priced industrial on the big board. Kresge followed in its wake, climbing points, to 314, also a record. Asso- ciated Dry Goods moved up 2ss. to 99, q new top, but Arnold Constable broke to SZ, a new low, in reflection of speculative disappointment over last years earnings.
 Sugars, especially the Cuban issues, gave one of the most, impressive dem- onstrations of group strength, showing < q net gain of 3 points. Restricted trad ing in the oil shares was again at- trtbuted to the oil hearings in Wash ington. Fresh strength developed in the tobacco group on merger rumors. Schulte took the lead, with a net gain of nearly 2 points.
 General Electric advanced about 5 points. Coca-Cola sank to a new low on reports that the 1923 dividend on the common was earned by a scant margin Colorado Fuel and Iron was active and strong on expectation of substantial increase in earnings from it's new mills.
 A burst of buying in Lackawanna Railroad on unconfirmed rumors that an extra dividend would be declared sent that stock up more than points, to 11S1a. Delaware and Hudson and Chesapeake and Ohio improved in sympathy. Selling of Southern Rail- road. which dropped below 4s, was as
 
 would be placed on a $4 dividend basis and not $5 as reported.
 The further collapse in French francs, which sent them to another record low at 3.76%c, was the feature of the for eign exchange market. Belgian francs broke to 3.271sc, while demand sterling dropped about 114c, to around 4.2SAc.
 Call money again held at A. per cent all day. Time money and commercial paper markets were quiet, with business being done on 4%Q5 per cent basis.
 Total stock sales, 507 200.
 Twenty industrials averaged 9s.5S; net loss, .15.
 High, 1924, 1O1.24; low, 94.SS.
 Twenty railroads averaged S3.93; net loss, .06.
 High, 1924, s5.sO; low. s2.74.
 CALL MONEY
 NEW YORK, March 7.-Call money Steady; high, 4l4; low, A; ruling rate, Az; closing bid, A; offered at 4k; last loan, A; call loans against &C., ceptances, A. time loans, steady; mixed