MARKET DISPLAYS
IRREGULAR TREND
Some Miscellaneous Shares
Show Activity
By WILL JOHNSON
NEW YORK, Jan. 23.—The stock
market is possessed of the routine trail
ing era already predicted for the rest
of the present month. Wednesday’s
market yns an irregular affair with
some high-priced miscellaneous shares
bid up sharply.
With a continued absence of any
definite trade developments, the market
appears disinclined to shake off. its
lethargy, especially so far as the main
body of stocks is concerned.
Though the general opinion \is that
the present tendency will last for some
time yet, sentiment continues bullish
for the long pull. It was noted that
buying operations outnumbered the sell
ing orders Wednesday.
What news developments appeared
during the day were mainly favorable.
The midweek steel reviews reported new
orders increasing, with the industry on
an 8 per cent of capacity basis, com
pared with 70 per cent a month ago.
The steels shares, however, did not re
spond to the news, as their values al
ready had envisaged this improvement.
The iron age showed that the railway
program calls for smaller expenditures
for locomotives and cars in the early
part of 1924 than for the same period
of 1923.
Slightly higher prices reported for
the copper metal were reflected in the
market for the copper stocks, which
was more active and stronger than in
some time past.' In the late dealings
sugars also were bid up on the news
that sugar prices may he expected to
advance shortly, and certain of the oils
found-, room, despite the continued heav
iness in the, Pan-Americans, to in
crease their values. There was a nota
ble let-up of the pressure on the Sin
clair issues.
