The Birmingham age-herald., 1924-12-10
STOCK VALUES RESUME MOVE
 TO HIGH LEVEL
Market Stimulated By Heavy Demand For
 High Grade Issues

NEW YORK, Dec. 9.-Stock prices moved steadily upward today in re- sponse to a heavy investment demand for the high grade issues. ApproXi- mately four score issues attained new peak prices for the year on total sales slightly in excess of 1,SOo.O0O shares. Tbe average of twenty leading indus trial stocks touched new 1924 high level.
 Buying orders were spread over a large list but were effective in the pub- lie utility, motor and accessory and cop per shares which combined, contributed about one-third of the new highs.
 United States Steel common was in active demand on the expectation that the monthly tonnage statement. due to- morrow. will show an increase Of at least 30oOO0 tons in untitled orders The stock closed 1,4 points higher at 11s1s after having sold as high as 1lsa4. Good buying also was noted in some Of the Independent issues. Sloss- Sheffield and Ludlam breaking through their pre- vious 1924 maximum quotations.
 A steady investment demand for American Telephone sent stock to a new high at 133A, up IL.
 Other issues in the public utility group to be quoted at new high figures were American Waterworks, West Penn Power, Western Union, Consolidated Gas and Brooklyn Edison.
 Buying of the motor issues centered largely in Jordan, Maxwell A and B and Pferce-Arrow common and preferred, all of which were accumulated on re- ports of large current earnings
 High priced speciaties continue to record good gains but the fluctuations were not as violent as in some of the previous sesisons. General Electric ad- vanced more than points to 2S0& and then eased to PTS. Among the other issues to record net gains of points or more were Case Threshing preferred, the Commercial Solvents issues, Fisk Rubber first preferred, Iron Products, Metropolitan Edison preferred, Otis Ele vator. United Fruit and Virginia Rail- way and Power.
 Coppers responded to rising commodity prices, Kennecott and Utah leading the advance in that group. Oils and sugars were heavy on unfavorable trade news.
 The railroad shares developed consid- erable irregularity, although Southern railway common and preferred Balt- more and Ohio preferred, Lehigh Valley, Chicago and Northwestern preferred and Ann Arbor preferred sold at new peak prices. Katy" common and most of the standard issues lost ground, Delaware and Hudson dropping IF points.
 General Baking broke 6'a points, while American Express, Cluett Peabody, Philadelphia company, United States Realty and Manhattan Shirt dropped 2 to points. the last named touching a new low record for the year at 8.
 Call money renewed at 3l4 per cent and then advanced to 3a. Time money held firm with business in moderate volume. Commercial paper rates stiff fened slightly. prime names being quoted at 3ia to 3S4 instead at on a flat Sh per cent basis.
 The feature of the foreign exchange market was the establishment of an other new high record by demand ster- ling at $4.71, or within 1i2c of the high est price touched since the war. Most of the days gain was cancelled, how ever, before the close. Norwegian ex- change jumped about 14 points to 15.1Sc the other European rates fluctuating ir- regularly within narrow confines.
 Stock market averages: