Continuation of pool operations In
United States Cast Iron Pipe sent that
stock from 7414 to 78, the closing price
of 71% representing a net gain of near
ly 214 points. A run-in of the shorts
In American Woolen lifted that stbek
to 76%, but It fell back later to 74,
covering operations being influenced by
a report that the company planned to
set aside a reserve fund for the year’s
dividend requirements.
OH shares were again adversely af
fected by the Washington investiga
tion. Pacific dropped 1% to 60%. Un
settlement of the rubber shares was
based on speculative expectation of
poor 1928 earnings reports.
Heavy profit taking In Norfolk and
Western, which closed 2 points lower
at 11414, featured the trading In rail
ahares.
Call money held at 4% per cent, all
day. Time money and commercial pa
per markets were quiet with rates un
changed.
Heavy offerings of French francs,
which dropped within a few points of
their record low, was the outstanding
development. In the reactionary foreign
exchange market. Demand sterling held
fairly steady around 4.2914 and French
francs ruled around 4.10.
Total stock sales, 816,000 shares.
Twenty Industrials averaged 97.39;
Bet loss, .87.
High, 1924, *101.25; low, 94.88.
Twenty railroads Averaged 83.27; net
loss, .86. 3
High, 1924, *85.90; low, 82.71.
FOREIGN MONEY
NEW YORK, March 8.—Bar silver,
•4c; Mexican dollars. 4874c.
FOREIGN EXCHANGES
NEW YORK, March 8.—Foreign ex
changes easier. Quotations in cents:
Crest Britain demand, 4.2914; cables,
*■29%:' 60-day hill? on banks, 4.271*.
