New Britain herald. [microfilm reel] (New Britain, Conn.) 1890-1976, 1924-01-02
WALL Street STOCK
EXCHANGE REPORTS

Irregularly higher stock prices
characterized the opening dealings in
] the first stock market session of the
/ New Year. Buying orders were dis
| tributed over a wide list but we're
most effective in the oils and tobac-
cos, producers and refiners and Amer
lean Tobacco standing out with mi
tial gains of a point each.
Wall Street Noon-Curious cross
currents of price changes took place
during the morning session. Traders,
who had built up paper profits in the
up-swing of the last two months did
not want to convert them into cash
so as to have them show in the 1923
income tax returns, offered stocks
freely. particularly the speculative
favorities. Some selling also was re-
ported to have been influenced by the
belief that the technical condition of
the market warranted at least tenn
porary reaction. Dawson Chemical
extended its loss to nearly 8 points
and producers and refiners sold near
ly 2k below Mondays closing quota
ton. Good gains were recorded In a
number Of the public utility, copper
and merchandising issues. American
Chicle preferred jumped seven points
Call money opened at 81 per cent.
Stockholders of the Z. S. Distribut-
ing Corporation today approved a
plan of recapitalization providing for
an increase in the 100000 shares of
common stock and 10000 shares of
managers stock to 100000 shares of
no par common and 27,500 shares of
I per cent 500 par cumulative pre-
ferred stock.
The market became more irregular
later when profit-taking took place in
a number of the oils and selling pres
sure was exerted against Dawson
Chemical. which dropped 2 points.
Pan-Amercan B dropped / 1-2. Am
erican Express sold points above its
previous sale. United Fruit "a and
Liggett & Myers, Nash Motors and
L. s. Alloy Steel moved up to LIZ
points with a score of others, includ- |
ing Du Pont, Famous Players and
Woolworth, a point or more. Foreign |
exchanges opened reactionary.
Losses in the Oil and Motor groups |
were extended, Chandler dropping 2 |
IA points before the selling eased |
on appearance Of large buying orders |
In the Maxwell Motor issues. in which |
the preferred A advanced almost 4 |
points, Jones Brothers Tea, Montgom- |
cry Ward, American Linseed prefer |
red, Cuyamel Fruit, United Drug and |
Lehigh Valley also became strong.
pt1 ae.ta ft...
losses. Standard Oil of Nebraska sus-
tanned the greatest loss in the group,
falling 90 points on moderate sales
and South Penn. Oil showed a loss of
6 points, Prairie Oil and Gas after
an opening advance of one point,
dropped six points but quickly re-
covered. Standard Oil of Indiana,
Kansas and New York declined
about one point and a loss of over
two points was sustained In Standard
Oil OF Ohio. II
The closing was irregular. Selling \
of United states and Gulf States steels
and Tobacco products in the late deal
ings was counteracted by the fresh ac-
of American Chicle pre-
ferred which extended its gain to IL
points and Jones Brothers Tea NOV
ed up 8 points.
Mixed price movements took place
In today's relatively quiet stock mar
ket. Selling by traders who deferred
sales until after the turn
of the year was counteracted by the
-epurchase of stock sold to establish
AK losses a month ago. Copper, Pub
lie Utility and Merchandising issues
gave the best demonstrations of group
strength. Foreign Exchanges were
weak. French francs again selling be-
ow cents. Sales approximated