The Birmingham age-herald., 1924-12-03
STOCK MARKET ! IS LESS ACTIVE,
 BUT PRICESH0L
Advance Sets In Near The Close After Mid-Ses-
 sion Decline

NEW YORK, Dec. 2.-Stock trading slowed down perceptibly today with prices moving upward during the morn inR. falling in the early afternoon and then bounding upward again at the close. The average of 20 leading indus trial shares was unchanged on the oay' but the average of 20 leading rails ad- vanced about two-fifths of point to the highest level in several years.
 Thirty-fiye issues, including seven rails and seven public utilities, attained new peak prices for the year. The list included Atchison, Baltimore and Ohio common and preferred, the Erie preier red issues, Wabash preferred A., "Katy" common, Hudson and Manhat- tan, Mathieson Alki common and pre- ferred, Marine common and preferred, American Express (new). Famous Play CTS, American Water Works (old ana new stock) and Allis-Chalmers pre- ferred.
 Wabash preferred "A" was heavily bought, rising more than 3 points to 67h. Erie first preferred advanced more than two points to 45A and Baltl- more and Ohio closed nearly ? points higher at 75. Buying of the rails was stimulated by publication of statistics showing that freight loadings for the week ended November 2 again exceeded a million cars, settlement of the south ern Pacific wage dispute ana repoFts oA high current earnings.
 The recent improvement in railroad earnings has led to a heavy demand for new equipment, which accounts for the public offering of 900 shares Syming- ton company class A stock at $27.5O share, the proceeds of which will be used to take care of expanded business.
 United States Steel common fluctuated between 116 ana 117k. closing at 116A, for net gain of h. Baldwin and American, Can also closed fractionally higher.
 There was . heavy demand for the oils just before the close. Pure Oil was bid up to a new top at 2Sts on the re- comptroller of the currency to assume the presidency of the company. Pan American B closed about point higher at 54h on the report that the company had concluded several important con- tracts.
 There were several strong spots in the speciality list. United States Realty was run up 2 points to a new top at l29A and then eased to 127& and the preferred closed 4 points higher at 1Is. American Tobacco and the E stock, American Water Works, International Harvester, Union Tank Car and West inghouse Air Brake closed at net gains of 2 to 5h points. The weak spots in cluded Associated Dry Goods, Jersey Central, Fleischmann, National Dis tributing preferred, National Lead Owens Bottle, Stromberg Carburetor and United Fruit, off 21a to 31s points; Pitts burg and West Virginia, which dropped 5H, and General Baking, which broke S11 points.
 Call loans renewed at 3 per cent and then advanced to 31s. Time money and commercial paper rates remained firm with business in moderate volume. Ac- ceptance rates again stiffened, asking rates ranging from 2%s per cent for 30 days to 2% per cent 120 days.
 Foreign exchanges displayed a firm tone. Demand sterling ruled about a cent higher around $4.64% and French francs sold just under 51s cents. Oth- or European rates showed nominal changes.
 Stock market averages: