The Birmingham age-herald., 1924-01-26
BROAD FORWARD
 MOVE DEVELOPS
U. s. Steel Common Leads Ad- vance And Buoyancy Is De-
 velOped By Specialties

NEW YORK, Jan. 25.-Speculators for the advance maintained control of { today's stock market, despite the at- < tempt of bear operators to unsettle the list by heavy offerings of a num- Z Der of the motor and chemical shares < and such specialties as Famous Play CTS and United States Cast Iron Pipe Prices were churned about considerably { in the early dealings, but a broad for ward movement set in near the close under the leadership of United States Steel common, which toucRd 104% tho highest price since last spring, and nearly 3 points above yesterdays close
 High priced specialties again devel- oped marked buoyancy, General Elec- tyic touched 2217s, the highest price in more than 20 years, closing slightly be- low that figure for a nH gain of points. Corn Products established a record high for all time at 1S3, up Az American Car and Foundry advanced ! almost points to 174Hs. United Fruit jumped more than points to 195. American Can established record high at 111A, closing at a net gain of nearly 2 points.
 market found little difficulty in ob- taining funds to finance their opera tons. Call money again ruled at 4 per cent, but "outside" loans were re- ported to have been made as low as 8E. Commission houses reported an increase in public participation, but thus far the buying from this source has been of a rather cautious char acter.
 Buying of tho steel shares was in fIuenced by reports of increased op- erations of the principle companies and the favorable interpretation made by market observers of the preliminary annual report of the Bethlehens Steel Corporation. Bethlehem, Crucible and Gulf States each closed about 1A points higher. Oils were higher by the announcement of further increase in Pennsylvania crude prices. The Pan American issues, which have been un- der considerable pressure lately as a result of the Mexican revolution and the disclosures before the Senate com mtttee Investigating naval oil reserve leases snapped back about 2 points each. while Sinclair moved up nearly . point. ." ....
 Strength of the sugar shares was based on the improved trade outlook, Cuba Cane preferred developing con- siderable activity on the belief that |. early action will be taken to wipe out part of the nineteen per cent accu- mutation of back divisions.
 hdhTOdu SHdreS ldSSeu DenlHu the general list until just before the close, when heavy buying set in for scat tered assortment of issues. Southern Railway climbed more than 2 points to A, record high; Delaware and Hudson, International and Great Northern and Canadian Pacific moved up about points each and Big Four advanced on a small turnover.
 Call money held steady at per cent Brokers continue to bid Az per cent for all maturities,F the time money market, with soHs 30 to 9O-day loans made at that fiG ure. Bankers are ask ing A per csnt for the longer dates. The comm@ cial paper market was quiet, with rates unchanged.
 Foreigp exchange rates held steady in quifs trading. Demand sterling agaip was quoted around $422 and Frer oh francs moved around 4.4S ce.lts. Japanese yen dropped about 15 points to 44.75 cents. But other cur rencies showed only nominal changes.
 Total stock sales, 1,231 800 shares.
 Industrials averaged 100.54; net gain, 50.
 High, 1923, 105.3S; low, s5.76.
 Railroads averaged SABA; net gain, 80.
 TJiph 1909 on s1. low 70 20