The Birmingham age-herald., 1924-04-17
STOCKS RECORD
 FURTHER GAINS
Short Interests Again Furnish Most Of Buy
 ing Power

6 furnished most of the buying power, which was particularly effective in the sugars and industrial specialties.
 While the prompt acceptance of the Dawes report by Great Britain, France and Germany has had cheerful effect on speculative sentiment, domestic trade news continued to be the dominating factor in the determination of price movements. Recent trade reports which include predictions of an early ad- vance in California oil prices and net earnings of approximately $6 share on United States Steel common in the first quarterly report, which will be made public April 29, have had ten dency to restrict commitments on the short side of the market.
 Money loans of Wall street brokers ire now estimated at approximately H,320, 100000, the lowest in about two years and a reduction of about $30,- b0O,O00 since March 21. Brokers bor- rowings have been declining steadily since the first of the year when they totaled about $1 ,400,000,00O.
 2 United States Steel closed unchanged 1t 971s. Baldwin, which had touched i12H in the early trading, dropped back to 110M, also unchanged. Stu 1ebaker closed nearly a point higher st S53s after selling point above that figure. American Can crossed 99 and then fell back to 97A, up %.
 Fisher Body was the individual fea ture, soaring 19 points to 219 on re- ports that the General Motors corpora ion, which owns 60 per cent of Fisher Body stock, was negotiating for the minority interest. Other strong indus trial specialties were Corn Products, rhich closed 311a points higher at 1671a; Woolworth, which closed at 312A, up A; United Fruit, which moved up B1a to 1S9h and United States Cast Iron Pipe up 25s to 741$.
 Another bear raid against Yellow cab forced that stock down more than [ points to 60H, new low, but it ew Cabs closed fractionally higher at H1a after selling at 50, also a new ow, in the early trading.
 Strength of the sugar shares was due 10 an advance of refined prices, net gains of 1 to nearly points being re- garded by Cuban American preferred, Cuban Dominican preferred, Punta Al iegre and South Porto Rican.
 Call money opened at A per cent, ind then dropped to f, where it closed. Time money and commercial paper markets were quiet with 411a per cent the ruling rate.
 Foreign exchange rates held relative g steady except for a further break in Japanese yen which forced them below He to another new low record for the year. Demand sterling ruled be- Tween $4.34ls and $4.35 and French francs were quoted just under GAc. A Total Stoc; safes, OSI 400.
 Twenty industrials averaged 91.T7 previous day, 9139.
 High. 1924. 10f.-5; low, 90.S3. Twenty railroads averaged SLIGO; previous day, SLY.
 5 High, 1924, S6.52; low, S1.00.
 FOREIGN EXCHANGES t- NEW YORK, April 16.-Foreign changes Irregular, quotations in cents; Great Britain. demand. $4.34%; cables, s4.so; 6o-day bills on banks, s4:32is. 4.44@444h Be g um. 5.29la o 5.31; Germany (per trillionl. .22%; Holland. sat NGrway Is5s Sweden sss7 Dsn ts64; Greece, 1.SS; Poland .00012; Cze- sho slovakia, s.s5; Juso slavia, 1.2sA; Austria ;Oo141s Rumania. Ssh; Argen- tina, $500; Brazil 1120; Tokio, 4O& Montreal, 97%.
 NEW YORK. April l6.-Call money, sfsier high 4h per cent; low, {; ruling rate A CIOSlnS Dlu 4s offered at I t2 last loan 4; call loans against acceptances. (: time loans steady; mixed collateral, s0-oO days, 41a; 4-6 months, 41a @4% prime commercial paper, 4iz D4s4.
 LONDON MONEY
 LONDON April 16.-Bar silver. 33k discount T rates short 'ii bflis f5-is f @ as per ent; months bills, sos 1-1s per cent.
 FOREIGN MONEY
 NEW YORK, April 16-Bar silver. hntl
 RAW SILK
 NEW YORK. April 16.-Raw silk easy; prices per pound:
 Kansai double extra cracks. s6.3O@6.35: kansai best No l. s6.O5@6.1s; shlnshu 1925 Q5 5.so; Shanghai China, steam fiji, gold double deer, s6.95@7.05.
 STEEL MARKET
 NEW YORK; April 16.-steei un- DULUTH. Minn.: April 16.--Cfose flax Nay, s24Oss; July. Ss.a5; September,
 NAVAL STORES
 SAVANNAH, Ga, April 1s-Turpen- Rosin, firm; sales, 49s; receipts. s52; shipmsnt' 6Tosnt l'Oss; stock; 5?;5s2 ;;saa., K M, 75@4,sO; N. s4.s5; VIC. s5.45; JACKSONVILLE. Fla. April 1s.-Tur- tentins, nominal: 94; sales. none; .eipts. 2So; shipments, none; stock, IT, s,s Ro'iP .St0msn,; fgm sass sss ssasp' st!s@sse; ';'issSg1ts ;is5; Ms ;525;s g s'sS Wv ssls. MSe @4.70: C 46.5@4.75; $4.7O04.75; t4.s5; VIC S5.75; wv ;6.45
 ke first grades rails ...... S6.6O S651
 SUGAR MARKET
 NEW YORK, April 16.-The raw sugar market was frmer today, but still unset tled and after selling as high as e,4Oc for S,15c Trading was more active with sales of so,OoO bags of Porto Ricans and 4S.o00 bags of Cubans at 6.2sc duty paid :; 1e,OOO bags Cubans at 6.40c, and 10 oOo bags CubanS at 6.15c, all for April and zarly May shipment.
 advances Of 21 to IS points on trade buy- ne. reflecting the steadier tone in the I pot market, The upturn, however, met 9st with final prices 2 to Is points net ngner May closed, 4,SSc; July, 4.59c; Refined sugar unchanged to 25 points higher, line granulated now rang Ing from to s.25c. A better withdrawal count, while several thousand tons were reported sold for export. Refined futures were nominal.
 HORSES AND MULES
 ST. LOUIS, Ill., April 16.-Horses and mules steady; quotations unchanged. f BIRMINGHAM { WATER WORKS