The Birmingham age-herald., 1924-03-15
MEDIUM PRICED
 RAILS SOUGHT High-Price Specialties Also Are
 In Demand And Make Good Gains

NEW YORK, March 14.-Stock prices showed a strong tone on an increased turnover in the early part of today's market, but became unsettled toward the close on weekend trading and a resumption of short selling. Announce ment that the House would vote on the soldier bonus bill next Tuesday and the probability of its passage were re- ported to have inspired the late attacks of bear traders.
 Speculative interest was divided largely between the high priced spe- cialties and the medium priced rails, particularly those in which favorable dividend development are believed to be pending. American Can and Bald win were pushed up a point or more during the morning, but they yielded with the rest of the list in the after noon, Can closing unchanged at 115A and Baldwin showing net gain or ia at 123M. United States Steel closed at 103, off %, and Studebaker was un- changed at 101B.
 Kresge, making its first appearance in some time jumped 20 points to 335. a record top, on one sale of ten shares. General Electric touched 225%, it's high est price since 1902, and an extra gain of points, buying being influenced by reports of capital readjustment which would be favorable to stockhold- ers National Lead closed nearly points higher at 140.
 Wilson Packing preferred broke 19 points to 45, a new low, in response to the passing of the dividend. Unlted Cigar Stores broke 1852 points to 190 on one sale. Market Street Railway prior also established a new low at 44k, off 324, on the passing Of the diV- idend. Late selling was directed prln- cipally against the tire stocks, Kelly I,o rrad dnrr than points to 201s, the lowest this year.
 Copper improved on the French con- firmation of reports that Premier Poin- care had informed American bankers, prior to the granting of the recent Sloo,- GOO 00O loan, that the Dawes report would prove acceptable to France. American Smelling led the advance, moving up more than 2 points to 6Sh, buying of this issue also being influ- enced by rumors of extra dividend in April. Oils were irregular, renewed selling breaking out in the Pan-Amer- ican issues. Recent advances in crude prices have resulted in increased ac- tivity of the shares of some of the smaller companies, such as Superior, which have contracted for their output at prevailing market prices and of com panies like Marland and Texas com pany that have large quantities in storage.
 In the rail group, Wabash preferred A touched 46&, the highest since 1917, on reports of an early resumption of payments. Southern Railway held close to yesterdays final prices, de- spite a large volume of profit trad ing. Chicago and Eastern Illinois 600 also expected to benefit by early divi- dend action, touched a new 1924 top at 4s&. Chesapeake and Ohio closed near ly points higher at 74as.
 Call money was unchanged at per cent. An easier tone developed in the time money market, banking lowering their asking prices to AZ and brokers bidding 4l9. some 30-day loans being arranged at the lower figures. Com mercial paper held at 4Ac.
 Trading in the foreign exchanges was irregular. Reconversion of sterling credits into French franc credits sent demand sterling down more than a cent to around $4.29, while French francs made further recovery by crossing 4.70 cents.
 Total stock sales, S56,1oo shares.
 Twenty industrials averaged 9s.95; net gain, .49.
 High, 1924. 1O124; low, s4.ss.
 Twenty railroads averaged S4.2s, net gain .12.
 High, 1924, s5.so; low, s2.74.