| Show WALL STREET STOCKS HigHER Issues Move Upward i- i With Vigor Total Tota stock sales shares Twenty Industrials Industrial averaged 1 net gain I 21 High 1923 2 5 k low Twenty railroads averaged net gain 33 High 1923 low I NEW V YORK Jan 26 Stock Stock prices moved up vigorously at the opening I Of tOday'S market but the advance i was Interrupted at Intervals by heavy taking profit and n. n renewal of oC bear selling In several sections of ot the list At the close the average of oC twenty leading industrials was at tho the high hIgh- est eat point est point since last April and less than 5 points below the peak of oC th the tha preceding month priced High specialties were again the center ot of speculative Interest Corn Products which has established a record high nearly every day his this week touched another new top at nt closing 2 lower for Cor a n. net gain gaino o of ot 34 31 2 points United Fruit ruit crossed J ut 1 to the highest quotation since 1921 and then broke to for Cor a net los loss o of 2 points on the day General BakIng Baking flaking Bak flak ing closed 6 points higher and American Amer Amer- i Iran ican Tobacco a 4 4 United States Steel was heavily in anticipation of oC a good earnings earn earn- lOgs ings statement and favorable dividend action next Tuesday touching A the highest price since last spring but bat forfeiting most of oC its gain in the late realizing movement Bethlehem Steel closed 1 11 li higher the other In Independents Independents independents In- In dependents showing little change on un the day dar A bullish demonstration was conducted con con- ducted in some of ot the oil oU shares Just before belore the close Atlantic Refining l and standard Oil of oC California Califor nia nta each closing 2 points higher Fresh resh selling broke broko out in the l Pan Pan- an- an Amerl American an Issues on publication of oC Washington dispatches ches forecasting the cancellation of oC the company's leases on the naval na oil oU reserves in California Califor ala nia as as' as a result of oC disclosures before the senate committee the net decline In both stocks being about 2 l points Speculators for tho decline again attacked the motor and chemical shares which have proved vulnerable to selling pressure Losses of oC 1 to 1 points were recorded b by American Ameri Amen can Agricultural Chemical preferred Virginia Carolina Chemical preferred Overland Willys-Overland preferred and Stewart Stew Stew- art art- Warner art Varner but Studebaker Chandler and Davison Chemical yielded only fractionally on the day Strength and activity of ot Penns Pennsyl- Pennsyl l- l vania anla railroad which ordinarily moves mo within narrow limits was the feature Of or the railroad group The advanced 2 points to 46 closing slightly below that CI figure url buying ap- ap p renu being Influenced by the announcement announcement announcement an an- I that ills ts leases with the Lehigh Valley and Baltimore Ohio for the use of oC the Pennsylvania station station sta ate tion would not be renewed when they expired because of oC Its own Increased requirements Big Dig Four our advanced 4 points on one sale and Delaware Hudson advanced advanced advanced ad ad- 1 IVi Southern Railway was again active closing clong at 44 H 3 S for tor a anet anet anet net gain of oC Trading In the exchanges was quiet with rates exhibiting a firm tone Demand sterling advanced slightly to i and French francs were quoted Just under Oc Other rates showed only nominal The weekly l clearing hf house S statement state state- at t sj g meat ment showed decreases s In most no of the principal Items Loans discounts and Investments l reserve o of member banks banka in iii the federal federal fed fed- eral reserve bank fell and andI net demand deposits slumped I Cash in own vaults Increased and time Aggregate reserve totaled 5 I leaving a a. deficit In reserve of oC 16 60 a decrease of oC below I the week before beCore which showed an excess reserve of oC more than I I HANK S STATEMENT NEW EV YORK Jan 26 me 26 The le actual I condition of ot clearing house banks banka and anti antitrust trust companies for tor the wet week shows show a 11 deficit In reserve of ot This I Is a decrease of OO I T The statement e follows follow h Actual condition Loans Loana discounts dIscount II etc etl decrease Cash in own vaults vault members member federal reserve bank Increase 1 fl- Reserve In federal reserve bank of ot member banks decrease Reserve in own vaults state tate banks and trust companies decrease Reserve In depositaries stats state banks and trust companies In increase In- In crease crase Not Nit jt demand deposit decrease U. U S. S deposits deducted de tie- ducted Time deposits increase Circulation Increase 62 62 00 Aggregate reserve Deficit In reserve decrease decrease de tie- crease Summary of ot state banks ond and trust companies na a in New NewYork York not In Included In- In I f n In clearing rea th heuse 8 Loans discounts etc i In In- In cl crease 8 Gold 7 decrease Currency anti and bank notes decrease Deposits r. r with lA federal g l ld reserve vs bal bank of New York i d 1391 l Total deposits decrease I l' l amounts duo due from reserve depositaries and anti other banks banka and trust companies in New York and United States Deposits decrease Banks Banks- Cash in Vault auit Trust com companies Cash In 66 COTTON CLOSE CrOSE NEW YORK Tan Jan 26 The general cotton market closed steady net 10 io points higher to 20 points lower with the new crop positions relative quiet and easy |
