The Birmingham age-herald., 1924-09-03
STOCKS SEE-SAW
 IN DULL SESSION
Closing Shows Curious Mixture Of Gains
 And Losses

NEW YORK, Sept 2.-stock prices see-sawed in today's relatively dull ses- sion, closing quotations showing a cu rious mixture of gains and losses.
 Opening prices were strong as a re- suit of a fairly largo accumulation of weekend buying orders prompted by the progress being made in putting the Dawes plan into effect and increasing indications of a revival in trade. When these orders had been executed the mar ket turned dull. inviting a resumption of profit taking and short selling. All offerings were well absorbed and the market stiffened after midday only to run off again at the close.
 One of the most interesting features of the session was the advance in the call money rate, which had ruled un- changed at per cent since July 8, to 2h and thence to per cent, where 1t closed. The increase was generally at tributed to the heavy first of the month requirements, the preparations for the governments billion-dollar turnover September 15 and the flow of funds to the interior for crop moving purposes. Time money rates also stiffened slight ly, 60 to 90-day loans on mixed collat- eral being quoted at 2% to 3 instead of 2h to and the four to six months maturities ruling at 3A to 3h instead of to 31a. Commercial paper rates were unchanged.
 Most of the standard industrials showed recessions at the close, United States Steel common, which had touched 11oN, closed at 1091s, off s. Amerii can Can broke from 1852 to 1924 and then rallied a point showing net loss of 1M. Baldwin closed 1A lower at 123%, after having sold as high as 125M.
 A spirited demand for a number of the motor and motor accessories was in evidence just before the close. Nash Motors was run up Az points to new 1924 high at 132k and Stakeholder touched a new top at 39%. Strombers Carburetor scared 4 points to Fl, Stew art Warner speedometer closed 3A high CT at STA and American Bosch Mag iieto showed net gain of 11s and 293. Earlier in the day the Maxwell Motor issues touched new peak prices, but later forfeited their gains
 The rails showed more stability than the industriais with Frisco common, Missouri Pacific preferred and Katy" common selling at new high prices Tor the year. Lackawanna closed 13S and then fell back to 1874 up 2A, while Erie first and second preferred, Della ware and Hudson, Louisville and Nash vile and Pere Marquette preferred closed a point or more above Saturdays final quotations.
 Good buying also was noted during the day in Brooklyn Union Gas, North American, Manhattan Guaranteed cer- tifscates, Postum Cereal, Fleischmann, Foundation company, and Texas Gulf Sulphur, all of which broke through their previous high levels.
 With few exceptions, net losses were to a point or less, some of the con spicuous heavy spots being General Electric, American Tobacco "B," Colo rado Fuel and United States Cast Iron Pipe.
 Foreign exchange trading was quiet with most of the European currencies showing only nominal changes. Special activity took place. however, in Belgian francs, which were run up about points to around 5.08c, and in Argen- tine paper pesos, which touched 3oc as against a close of 343s last week. French francs were quoted about 1A points higher at 5.411hc and demand sterling eased about %c to $4!48hs.
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