The Birmingham age-herald., 1924-02-06
PRICES HOLD IN
 HEAVY TRAD1NG|
Bearish News Fails To Dampen Ardor Of Bull Manipu-
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 NEW YORK, Feb. 5@-The disruption or wire communication with the south and west, lower exchange rates and the E. prospect of a half-holiday wednesday out of respect to former President Will son, all features which might be con apprcciable effect on Tuesdays mar ket. Steeis, oils and public utilities led the days moderately buiiish trans actions, which totaled we'll over the million mark. sslas
 Steel common registered. another new high on the current bull swing, opening at 107h, up half a point, and going to 1os in the first hour. Most of the other , favorites scored further gains, and sev- eral new issues were added to the list of stocks which displayed marked ten- dency for activity at rising prices.
 On's Action Feature
 Another feature of the list was the nounced strength developed in the petroleum Issues, with Cosden and. Mar land scoring the best gains. Sugars forged ahead under the stimulus of continued operations for ' the rise. in Cuba Cane preferred, which attained q At mid-session the motors were wig -orously absorbed, under the leaAcrship of Studebaker, which reached new high on the present recovery at 106ss Mack also reached new high ground at 90H, and White gained more than a point to 5S, reflecting the bullish nature of the Mack 1923 report which recorded preliminary net of ,s7 ,OO0,Oo0, against $8,952, 900 in, the preceding year.
 The railroad shares were temporarily pushed into the background. The only point worthy of mention was a re- sumption of buying inc Chesapeake and Ohio which, 1t was said, will be ex- nbor Tnv o1 fo oh 5Sv, hS near future. As a group, the minor rails ruled slightly lower, although Missouri Pacific issues were a notable exception.
 Slack Trading In Afternoon 4
 Activity slacked off somewhat during the afternoon as the effect of the crip- pied wire service became more pro nounced. From this point the market assumed a two-sided appearance, with further progress in some groups being offset by realizing in others. Follow ins the announcement that a half day recess would be taken Wednesday, op- erations of an evening up nature put in an. appearance. Steels, however, were kept we'll to, the fore on reports of further expansion of mill activities. Motors, equipments, sand sugars also continued to be well bought. But re- gently active industrial specialties were comparatively neglected. In this group, Corn Products, old stock, and Loril1ard were noticeably soft. A beiated harden ing of values among the low priced rails was produced by another forward spurt on the part of Wabash preferred "A"
 Grains strong q At.
 Grains were strong with wheat ad- vaneing to new high ground and other grains ruling highef.~ Cotton trading was quiet, with options steady.
 The bond market was again active and strong, with foreign loans and a i scattering of industrials meeting an ex- ceptionally strong demand. External of the market, all issues going to new high ground, presumably lforecasting a large ne wloan. Rails and indus trials were comparatively mixed, while I.ibertfes yvere active and stronA, +