Shipping shares Improved on re
ports of a better inquiry for freight
space and the belief that lower rail
road rates on" grain for export would
stimulate business. Marine prefer
red jumped more than 2 points and
American International Corporation
1. Merchandising and Chain Store
issues also grpe by good demonstra
tions of group strength on reports
of high current earnings, Woolvt^rth
touching a new top at 261 % and May
Department stores climbing 2 points.
Steel shares held relatively steady,
reports of a better inquiry by rail
roads being counteracted to some
extent by the testimony before a
local housing commission that the
shortage of homes and departments
wan rapidly being overcome.
Willys-Overland preferred was one
of the outstanding strong spots, be
ing run up more than 2 points to
65 but easing slightly at the close.
Nash Motors, Davison Chemical,
General American Tank Car, Bayu
Brothers and Tobacco Products pre
ferred also registered good gains.
Call money opened at 4% each,
eased to 4’4 and thence to 4 where
it closed. The time money market
was quiet on a five to 5ft P£r cent
basis.
Cabled reports of internal disturb
Rnces in Germany sent marks down
to a new low of 1 cent a hundred
million. Demand sterling dropped
nearly a cent to $4.52 and French
francs broke 8ft points to 5.96 cents.
Heaviness also cropped out in the
Scandinavian rates.
Total stock sales. 453,000 shares.
Twenty industrials averaged 87.46,
net loss .04.
High 1923, 105.38; low 86,92,
Twenty railroads averaged 81.16,
net unchanged.
High 1923, 90.91; low 79.53.
FOREIGN MONEY
NEW YORK, Oof. 18.—Bar silver, 63U ;
'Mexican dollars, 48ft.
