The Birmingham age-herald., 1924-12-10
STOCK LETTERS

l Kennecott, which advanced sharply un- der a heavy volume of transactions. 1 Cerro De Pasco and Anaconda also re- corded new highs for the year. Amer | ican Hide and Leather stockholders ap- proved the new recapitalizaton plan and this announcement was closely fol. lowed by the report of a stockholders suit against the company by a well known litigant in an effort to restraint the company officials from carrying out their proposed plans. During the final hour heavy profit taking was noticeable | in the rail group and in certain miscel- Ianeous issues.-Fenner Beane to Kahn & Virgin.
 NEW YORK. Dec. 9.--Confirming our opinion of yesterday, the market Tues day opened firm. The motor stocks again came to the front, Mack Truck making a new high at 1137s and hold | ing strong all day. United States Steel, 1 the market leader. made new high since the last dividend, at 11S%. There seemed to be a tendency of the market | turning toward the industrials and pos sibly some switching from the rails to the steels and motors. In turning to- ward industrial group we find some new high points. Notably among those which 1 were strong are American Telephone at 1884, International Harvester at 1o9, Coca-Cola at 83is, General Asphalt at 59ss. We believe that for Wednesday the market will continue strong, espe- cially if the report, that no extra ses- sion of congress is wanted, either by | the President or the house leaders, can be confirmed.-Steiner, Rouse 6 Strook.
 NEW YORK, N. ", Dec, 9.-stocks returned to the advance with consid- i erable yigor today. Advices from in- | ri deScrihed pansion in steel operations and 8 per sistent hardening of prices. Although there were outsta ndng upturns in in dividual stocks the buying gradually spread to the whole list. Yesterday we had as the featured group the motor | issues, and while the upward move ment in this group extended into to- days session, with an especial advance in Pierce-Arrow preferred, which stock reflected net earnings in November at annual rate of SIP a share compared with a net in June and September quar- ters at rate of only S4 a share, it was eclipsed by outstanding strength in cop pers and steels. The strength in the latter group reflected statements that demand for steel products had doubled | in last month and the prediction of an increase of approximately 500,000 tons in tomorrow's tonnage report by United States Steel corporation. Profit taking sales toward the close resulted in some lowering of values.-Jno. F. Clark & Co.
 DRY GOODS
 NEW YORK, Dec. 9.-Cotton goods markets were quieter for the day with prices holding steady. Cheaper cotton and more abundant fast dyes are mak- ing for a larger business in cottons for next year. Warsted yarns are tending higher with many prices withdrawn, | f-iS of yarns were quiet. Burlaps were sligetly easier with trade moderate. Knit goods continued to sell moderately for fall with a better demand reported for the spring lines. Silks are selling steadily with crepes, failes and prints leading. Resistance is being shown to advances in wool and worsted fabrics.
 SUGAR MARKET
 NEW YORK, Dec. 9.-The raw su- gar market developed decidedly weak CT tone today, old crop Cuban declin- ing 7-16c to the basis of 5.71c duty paid while 10000 bags of new crop for Jan uary shipment were sold at 5.15c duty paid.
 Another crop estimate by a leading statistician, placing the 1924-25 Cuban crop at 4,724,714 tons, together with con tinued fine weather in Cuba and in creased offerings of new crop Cubar sugar, led to renewed selling pressure in raw sugar futures. Prices broke to 23 points on active positions, late deliveries selling to about the loves level of the season. Covering checked the decline, with final prices l to Il points net lower. December closed 4.00c , March, 2.95c; May, 3.O3c; July, 3.12c.
 Business in refined sugar was less ac tive, although prices were unchanged a 715 to 7.60c for fine granulated.
 POTATO MARKET
 CHICAGO, Dec. 9.-Potatoes, earl! morning trading rather slow, marke 1 slightly weaker: receipts, 90 cars; tota