The Birmingham age-herald., 1924-01-16
FILING INSPIRED Y HOUSE ACTION

i. {. NEW YORK, Jan. 15.-Stock prices. xiUhtoh broke badly yesterday. made N D0rfial recovery today despite re-
 Astal of short selling and liouida-
 Hons in various sections of the list. ar3edAy's ceiling was reported to have ssbsen inspired by the Houses rejec- ,tion of . portion of the so-called Un- yderwood rule prohibiting amend
 ments to, pending legislation when
 not germane thereto on the theory s.sAtat this action provided a further stumhling block to. revenue legisia- y1kiDn. and by stiffer money rates. Considerable importance was at- tached, by local financial leaders to RAris dispatches stating that the French cabinet had decided to in- crease taxes, direct and indirect. 20 i. per cent and to take measures to balance the. French budget, recent criticism of which has been regard ed a.s one of the primary causes for the weakness of Paris exchange. 1~att.:lns leaders here also expressed ss.rd Se .. Of General Davies speech Lp.oru ,as experts committee on repas. tons. as -r..'.. ica francs, which collapsed .S ,.,..y to AZ cents, the lowest p..s@, ever recorded, snapped back s ti.e. y,..k ot the days transactions n"E..5 ,tace just below 4.5o cents. ss4s ,......u sterling recovered 33a cents N f@j:s. Other exchanges rallied In ''.:. -.ts. tutii market. United States .~s .-;,idM in, o.udebakcr and ...e'. .s..i. -..jn, ,oitea .t.erred to as t;.,.,-' ..,a .onaI sa.A. Some of the %.,.s,,: ..dcl L.,tioEs took place lh s.V' ..:, Il <, Eich pools are reported to |. ~.s op4:r.tiag. United States ;ts.' u-. Pipe, which had been :. ! &.s..s ap fro.i. 3u to siss ill the last t..'e4 ...t, hs. ic9oped more points 1'l: :. ,..,....lS ;tt oi'.i Pool liQuida- t.>-4.- aas hsalneb for the 3A l,,... ,.-. >:i Coii ene gal Can, which ( X Se$ ,i 4. ....A IL. s..ares held firm despite 4. -l r'ui:tEt t resolution di- Y .;,e .t.e in =isa.t;e commerce \ (: >-...-.-.;.- ', . o tate ,,',ion to reduce i,r~s.. .ates, ,n ;i1.'.cuitural pro- e, I~.. $. A';,tii sues. continued to 1, ..s.<. C. ,3 ...p ,inpr.teJ earnings $ ..J.. .,~t ..:at .u.,,i. inc common .">.ofred ca .l tusing point ] .s.-ts. Good t,;..%"s >,.So developed l.. @ iiei LON i! z.t ;t'-:,.
 ..... ,S= u.. -.o.t. .b;lnles with MeXi- ,- t'.,}. --.i ,rtrc .,..,l.ned' to yIela Ii l.. ~, ,.ts tat tebel forces had . .ct :, s.Iu. -uwI ,is all refineries ;rt i;...l ..i.o. bu, iat SJut+l American oils "Vce tioaG: Mar.lca!bo selling aDo 5; Il Il record high price. I'urtaer t twa"d. revision of gasoline and crude oil prices had steadying effect on the domestic shares. \ bullish demonstra ton in General Electric just before the close sent if up nearly f points. buying being i'm fluenced Hby reports of heavily in- creased business Other strong spots were Consolidated Cigar preferred, Central Leather preferred Pierce Oil preferred. Pure Oil per cent pre- ferred, Nash Motors. Colum bia ,ACar- bon. and General American Tank up IF to 3iA points. Money rates stiffened. in response to increased demands outside the market. Call money opened at 4A, !. advanced. to 4i&, A and thence 5,
 here 1t closed Time money ranged
 from 4a4 to ,, bankers asking the
 Highest rate for the longer maturi-
 ties. The bulk of the commercial
 paper business took place at 4st per . cent.
 Total stock sales. 971 900 sharas
 Twenty industrials veraged 95.94;
 net, gain. .22. High 1923, 1o5.Ss; low,
 s5.76.
 ;S Twenty railroads averaged S2.74;
 net. loss 1.s3. High 1923, s0.51; low, |. 79.53.