The Birmingham age-herald., 1924-01-31
STEEL STARTS < TRADING
After Initial Lunse h Bsilns Market Prices FIattened
 Omf
sy wILL IoMuoou

NEW tOkks Jan 0s-8k9<l u3o Us inning in the stock markst Wednesday and succeeded fn carrysng . number of values substantially forward. but after the initial iunge ahead tn boil fng market things fiaftened out and the market reacted.
 Wan street acted as thougn it had been taken by surprise when the dfrec- tors Of United States sfsel increased the extra dividend to. 60 cents. But initial rush to buy. More was read tn the very favorable fourth quarter earn- tngs. which were just under s5o.poo. .ooo. The steel statement n this respect vas another indication that the basic business structure is sound.
 After the hectic market day and with money still very sasy, the Danagers of the New York Federal Reserve bank met to consider the matter of reducing the rsdiseount rate. which is at Sis per cent. They decided not to do O. ~ Excitement Al Steel Pest
 The scene at the steel post on the floor of the stock exchange at the open tng Wednesday was one of sxc1&nnent. Transactions In the common came fast and furious. and not for ton minutes were the early sales and purchases ssnched" for pressntstien on the came ''7.coo steel at 1os." and thts was Immediately followed by ~1 800 steel at ios&." Soon thereafter American Can went 10 the highest unouotation In its history. other membsrs of the steel groun followed their leader into higher Bethlehem. Crucible and Gulf States Steel prominent in this respect with gains of several points. Before mid day. Steel common had touched 107.
 Later prices tapered off and Ameri- can Woclen turned definitely weak, n w I'm <xf Wooien. the fact that the fall lines ars to Dc exhibited tomorrow and that q rather poor demand is In prospect had q depressing effect. especially when taken in connection with the question
 The railroad shares held their ad- vantages in much better form than the industrials. but here. too. the morning high levels were shaded.
 LIVE STOCK
 NEW YORK. Jan. 30.-Caftie-Re- ceipts: sso; irreguIar; steers. e5.5o@ 1o5o; bulls. ss5o05.75: cows. s1.7s@
 caives--Receipts: i,s4o; steady. vsals. s1s.so017; cuiis and little calves, s70 $50; grassers. t4.5o@5.50.
 sheep and lambs-Receipts: 4.4oo; s.2s; lambs. e1oa14.75; culis. ssGs.
 Hogs-Receipts: 2.1o0; steady: light to medium welshss. s77o@7.9o: pigs. N.50@7.65; heavy hogs, s7s01740; roushs. ss-2s@s.75.
 CINCINNATI. Jan. ao.--Hogs-Re- iceipts: 4.s00; slow. mostly 10c lower; pigs dull, 2Sc lower: heavy. $7.s5; packers and butchers. s7.ss; medium. T.30; pigs. and lights, S4.s0@6.s0. l Cattie--Receipts: 800; slow and steady; calves steady.
 sheep--Receipts: 100; steady; lambs steady.
 NASHVILLE. Tenn, Jan. 3o.-Cattle Receipts: 100; steady: heavy steers, s7@s; beef steers. s5@s; heifers. $500 $50; cows. $s-5o@5; feederss $4,5o06.5o;
 Hoss@Receipts: 1s,ooo; 1sc lower; heavy pigs. 2bc lower; 200 pounds and up. s7S5: 1e5 to 200 pounds, SIPS; ls0 to 165 pounds, s6.6o; pigs, s4.7595.35; throwouts, $5.e0 down.
 sheep-Nominal: steady; fat sheep. SS6o046o; choice lambs unchanged; range. ssqlo.
 LOUISVILLE. Ky. Jan. so,--cattie-- Receipts: 300; slow, steady; heavy 7 steers. ssQs.7S; beef steers, s5@s.60t neifsrs; esnss A ss9s5o; cows. ssso9s; feeders,
 Hogs Receipts: 1900; prospects low
 sheep-Rsceipts 200; steady; lambs,
 EAST ST. LOUIS, III. Jan. 3o.-- Hogs-Receipts: 1e,000; market slow; mostly 1sc to 200 lower; closed 2oc lower; one load choice butchers, e7.2G; few others. S7.15; bulk days supply good and choice butchers, S79710; mostly $767.05, late; light hogs largely s6.e0Q7; pigs and lights. 2sc lower at Se25G6.s5 for good 14o to 1s0-pound kinds; desirable no to 120-pound pigs. sS.25@s; lighter stuff. s4.5o@5; packers slow: packer sows mostly S6.25.
 Cattle-Receipts: 2.500; light veaiers opened steady at $14; late arrivals of- fered at $14 but few taken; beef cows steady to strong; other classes steady, with medium heifers very hard to sell; S6@7; one load. S9.25; beef cows, S4.z50 $50; canners, $2.1592.5o; bologna bulls, $z.s0@6.25. <
 sheep-Receipts: 2,5oo; not enough sales to establish a market; butchers paid s14 for part load; several lots medium to good western and natives brought s13913.50: best lambs still un- sold; bidding s14; no sales sheep.
 CHICAGO. Jan. st.--cattle-Receipts. 10000: beei steers and fat she stock uneven; generally steady; better grades fed steers and yeariings and desirable beef heifers scarce; higher. in spots; lower grade beef steers kind selling at sS.5o and below weak; spots lower; Killing quality plain; most fed steers, s7.75u975; top yearlings and handy .seights, S11; best matured steers, Si0.60; most beef heifers, S65OW7.75; few loads, S8qS-25; bulls strong; bulk boiognas, $4.S545.25; weighty sausage bulls. $5.S6 and above; vealers unevenly