The Birmingham age-herald., 1924-03-07
|IEREST STILL.
 E AT LOW EBB aMty Of High-Priced In. {strials One Of Features Of Session

y NEW YORK, March 6.-Resumption Q< pool operations and extensive cov- 59xshy bear traders, who apparently EHe4e4 on the theory that a number of g EN<oc4t had been oversoId, resulted in HHtner advance in prices in today's ucf8 active stock market. While net k4in& t1n number of active issues Er7nI44Sfrom to 2h points, the gen er15 lixt failed ito break out of the naxxoXs trading area in which 1t has bc moving the past three weeks. ntEsion houses reported that pub He 51tEfest in the market was still at low <bb, probably through fear of fur<herc unfavorable political develop Imepts at Washington. Today's mar ! kct Ignored the publication of tele- \ EraWs bringing the name of President l Coolidge into the oil inquiry, and a !. xurfher break in French francs, which ,'czrried them below 4c each to a new ! sreSofd low for all time. Operators on th6 long side, however, were encouraged by the decision of the Senate finance !, scQu3xuittee to seek immediate enact lment @oG joint resolution providing { sfor54S5 per cent reduction in personal Z 2inq11SSfaxes payable this year so that .sit nay apply on instaliments due on z Buoyancy of a number of the high prtoed industrials was one of the fea- jumped nearly F points, to BIO. rec ord top, on publication of statement showing a large increase in February sate1. A jump Of more than 4 points tnkEorn Products, which touched 17sA and closed slightly below that figure, in dividends. American Can climbed more than points, to 11S, and then fell back to 117A. Kress & Go. scored 10 points, to 200.
 Strength of the tobacco issues was attFibutett Ito the activity of the Whelan iptfFGsts In these issues. American To- batEo closed nearly points higher at 150 Schulte jumped more than 4 points, to 106A, and then fell back 2 points from the top, and intervals of Strength were shown by the Tobacco Products issues and Philip Morris.
 oils were bid up smartly in the early trading on expectations of higher crude prices, but reacted on the announce suit to cancel the leases on the paval oil reserves. Motors made a good re- sp1uae to reports of increased produce ffon sad sales In February. Sugars also showed good group strength in anticipation of some good 1923 earnings repaptsz and preliminary estimates i'm dictxfng that consumption of sugar was likely to exceed production. this year,
 Rails were firm despite the reported decrease in freight car loadings. North 2estHrn rails continued to discount the possibility of a marked improvement In Ee6rnary earnings. over those in January, which had been predicted by some of the officials of these roads: The market was not without its wcak spots. Case Threshing broke 10 poznty. 10 50, a new low, on the passing of the preferred dividend, and Penn Se&hoard Steel broke from 3 to 1h and then recovered its loss on reports that q pool in that stock was disoand- Inn s>S -. E A big increase in note circulation was the primary reason for the latest drop in French francs to 3.97c. the low est on record. Belgian francs reacted
 a sympathy, but the other foreign
 xcbanEes held relatively steady. De-
 aahd sterling eased slightly to 4.2sSsc.
 Call money ruled unchanged at 4hs
 Der cent. Time money and commercial ss safiar rates were upchanged.
 s Total stock sales, T92,000 shares.
 f Twenty industrials averaged 9S.73;
 net gain, .76.
 aITh, 1924, 1o1.24; low, 94.Ss. .
 Twenty railroads averaged sSs9; net ] gain, ST. t.
 High, 1924. s5so; low, s2.74.