The Birmingham age-herald., 1924-10-24
SUGAR SHORTS T IMPEDE RISE :: ;: OF STOCK LIST
Profit Taking. Also Adds
 To Irregular Appear k. So, ahce Of Market

f3NEw YORK, Oct. 23.-The upward ssovement of stock prices was impeded today by the short selling Of suars ana k,ertain specialties and profit taking Tn S8me rails, oils and other strong spots, seith the result that the general list 1sresented highly irregular appearance. With the buying movement in certain groups temporarily having spent lts force, the volume of business naturally fell off, the days sales aggregating about 900,0o0 shares.
 sssTrade news was largely favorable II included the publication of statistics showing a decrease in crude production for the fifth consecutive week and the Establishment of a new high record for this year in the freight car loadings for the second week In October. The sig A8ficent feature of the freight traffic Eeport was the fact that loadings of gen Hfal merchandise and less than carload freight were the largest of any week 3n history.
 iil Recent selling of Bethlehem Steel was Explained by the publication at the slose of the market of the report for the third year which showed net in eome, before dividends of only $1O2,- a67, as against $1,27s,277 in the pre- Heding quarter and $4,400,603 in the third quarter of 1923. Some encourage tnent was derived from the fact that bresent operations runnin at the rate of 65 per cent of capacity were more than Hpubie the low rate of 31 per cent in Hhly Bethlehem Steel common closed M higher at 39h as against the record tbw of STA established yesterday. Nfnited States Steel common yielded Rfactionally to 107.
 ,bA bullish demonstration in Maxwell Motor issues sent the A stock up near iH points to 66h and the B up 1i2 to HtA, each at new 1924 highs. Brisk ac- Hbmulation of Fleischman brought About a jump of more than 4 points to TSB, also a new top. Some of the or Ainarily inactive specialties to break through their previous maximum prices Were Brown Shoe preferred, Orpheum Circuit, International Nickel and Rem tlgton Typewriter first preferred.
 Arkansas City Southern assumed the iHadership of the railroad group, moving Hp nearly points to a record high at Aas and then easing slightly. Good Buying also was noted in New York Eentral, Lehigh Valley and Rock Is- lhnd per cent preferred up l to Joints. Wabash preferred A and New Haven yielded to profit taking.
 NCopper, oil and merchandising issues gHve fairly good exhibitions of group strength American Smelting and Wool Worth each climbed more than 2 points, while G. R. Kinney & Co.,, Julius Kay Ser H. R. Hallinson, Pacific and Asso- aated Oils, General Asphalt, Utah and Anaconda coppers continued their rise tR higher ground.
 lIAmerican Woolen was hammered down more than points to 52h, on un- SSnfirmed rumors that the company Would have to write off a large loss Sn inventory adjustments, rallying a point from the low at the close. Sugars continuers to yield to predic lions of price cuts, American Sugar Re- 3ining creating another new low at S6% and then rallying above 3S for small fractional gain on the day.
 HkCall money ruled unchanged at 2 per Sent. The time money and commercial paper markets were quiet with rates holding steady.
 Foreign exchange rates turned slightly reactionary in dull trading, demand sterling dropping about a cent to around $4.4912, while French francs ruled around 5.22 cents, off about 2 points. South American exchanges were firm.
 Stock market averages: