The Birmingham age-herald., 1924-11-20
PRICES CRUMBLE
 AFTER UPSWING TN STOCK MART
Session Unable To With stand Enormous Amount Of Profit Taking

NEW YORK, Nov. 19-Stock prices bounded upward at the opening of to- days market on a tremendous volume of business and continued to advance until noon, when they began to crum- ble under the weight of an enormous amount of profit taking and short sell ing, leaving the closing prices frregu- larly lower. Total sales of 2,446,70 shares were about 10000 below the peak of the current upswing established on November Il.
 Early gains, which ran from to 6A points, carried more than 100 issues to new peak prices for the year, includ- ing nearly three dozen rails. These advances however, were substantially reduced or cancelled in the later trad ing. the sharpest decline taking place in Radio corporation, which broke "A points from it's record high of 4SAa es- tablished earlier in the session, rallying nearly points from its low at the close.
 The initial demand for stocks prob ably was as heavy as any since the present bull movement started. The scarcity in the floating supply, due to the large blocks Of stocks taken out of the market in the last few days, made it virtually impossible to fill large or ders except at substantial advance in prices.
 Industrials and specialties led the early advance. Establishment of new 1924 high record by United States Steel common at 116%, stimulated buying of other popular industrials particularly in the motor and merchandising group. American Can climbed Al points to 1854, a record top for all time, but slipped back later to 151% for small fractional gain on the day.
 Industrials yielded more readily to selling pressure than the rails. New ,i-h ty, hof established, however, by Sears, Roebuck, Montgom- ery-ward, woolworth, H. R. Mallin- son. Famous Players, Postum Cereal, : Nash Motors, Maxwell A." North American, Peoples Gas, Laclede Gas, Consolidated Gas, International liar vester and many others.
 Several independent strong spots de- veloped among the rails, Texas and Pacific being boosted points to rec ord high at 45% and Chicago Great Western preferred recording a similar gain at s0A. Missouri Pacific jumped 5 points to s2N and Katy" common closed more than 2 points higher at 25%.
 Some of the sharpest breaks today were recorded in General Electric, Fris- co common, Mack Truck, United States Industrial Alcohol, Adams Express, Pipe, West Pennsylvania Power and worthington Pump, net losses Of which ranged from 2 to points,
 Heavy buying of Peoples Gas. which advanced GA points to 117K, following the announcement that the annual divi- dend rate on the stock had been in creased from T to 8 points. Other out standing spots were American Brake Shoe, Bayuk Cigars, Emerson Brant preferred, Nash Motors, United States Distributing preferred and Virginia Iron, Coal and Coke, of which closed 8 to points higher.
 Call loans held steady at 2ls per cent. The time money market was slightly easier, 60 to 90-day funds ruling at 8 to 3N per cent as compared with 3h to 3h earlier in the week. Commercial paper rates were unchanged.
 Foreign exchanges displayed firm tone with marked gains taking place in some of the South American currencies. Demand sterling ruled fractionally high er around $4.63A and French francs were quoted just under 5A cents.
 Stock market averages: