The Birmingham age-herald., 1924-11-11
PROFIT SALES HALT ADVANCE
 OF SECURITIES
50 Stocks, However, Soar To New Peak Prices
 For Year

NEW YORK, Nov. 10.-Heavy profit taking sales late today stemmed the swiftly rising tide of stock prices after approximately 50 issues had scared to new peak prices for the year. consio- ering their enormous volume, the orter- ines were we'll absorbed, closing prices showing a curious mixture Of gains anu ,osses. with no breaks of any conse- ouence. The days trading embraced 627 individual issues, a new recoro ,ioi all time. with otal sales approXlhae- ing 2275, ,000 shares.
 Railroad shares, the heavy accumuia- ton of which inaugurated the curreml advance, bore the brunt .s or snS ;n this ing However new peak prices m lhis yroup were established by more than score of issues, including southern Railway, Louisville and NasnVliIe, Frisco common, Katy" common anu inc three Rock Island issues. Lenlgn Valley sold at the highest price sihSe inc segregation of the coal propertles.
 reaction in the rails today was re- parded as inevitable after the spirited advance recorded by those issues Tn the closing days of last week, Whlcn carrieu the general level of prices to the highest point in seven years. Bullish entnusi- asm was maintained, however, in the
 
 of which today recorded new peak TUT the year.
 Exceptionally good buying took place in the oils and coppers, which have been tagging behind the rest of the list, anu in which trade conditions recently nave shown marked improvement. American Smelting, Kennecott and Chlno all broke through their previous 1924 maxi mum prices on net gains ranging rom 1A to points.
 While most of the oils are still well he,ov inc years tops, substantial prog ress was made today by Standard oiis of California and New Jersey, the Fan American issues, General Asphalt, AL lantic Refining and Tidewater, the gains running as high as 3 points.
 United States Steel common was run run up to 113h, the highest price III oins' itse years, and then fell back point, clos ing unchanged on the day. Other ln- dustrials to better their previous top prices for the year were United states Cast Iron Pipe, Corn Products, il. k. Mallinson, Savage Arms, United Drug' American Tobacco "A" and B' WeLs, Fargo Express, Adams Express ahu Consolidated Gas.
 Some of the motors and sugars de- yeloped pronounced reactionary tenden- cies. Chandler breaking to another l9z4 low at 26N and then rallying point while losses of point or more LOOK place in Cuba Cane Sugar preferred ana Cuban Dominican Sugar preferred.
 Untitled tonnage of the United States Steel corporation on October 5l' snowo So ing a gain of slightly more than 5ooOo tons for the month, was somewhat smaller than expected. Steel trade cir cIes report, however, that the republic an victory last Tuesday had released large volume of orders which undoubt- edIy will be reflected in the tonnage statement next month.
 Call money held steady at 2h per cent all day. Time money showed somewhat firmer tone,s 60 to 90-day ma t,ffities being definitely established on a3A per cent basis with loans from to 6 months ruling at 31s per cent.
 A brisk demand developed for the leading foreign exchanges, demand sterling standing out with a Sc advance to -$4.63, the highest price in more than year, but reacting 114c from the top later in the day. French francs rallied aEove 5Ac and most of the other rates showed nominal gains.
 Stock market aVerageS: