Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1922-07-15
Stock Markets
NEW YORK MARKET
Features Of the Days Dealings in All
the Leading Stocks

New York. July 1.-THE most en-
couraging feature Of today's uncertain
stock market was the comparative
steadiness OF the railroad division in
the race or more serious strike condi-
lions. A few secondary or minor trans
portations, such as st. Paul preferred,
Missouri Pacific preferred and Wheel
ing n Lake Erie preferred. were mod
eretely heavy, but the Investment
group was well supported.
Otherwise the list was spotty and
irregular. forenoon declines of one to
four points among oils, steels. equip
ments. motors and shippings being fol-
lowed by general recoveries later. At
the end. however, gains and losses
were mixed
shorts in Mexican Petroleum were
again punished, that stock rising al
most 10 points from its low Of the
morning and closing at net gain Of
2s after having shown loss of Al
points. P2r-Amcrican Petroleum, Mex
lean Seabbard and Standard Oil of Cal
ifornia also benefietted by the vigorous
recoil in Mexican Petroleum.
Former favorites and motor types
were tossed to and fro in the early
trading and intermediate periods but
finished at substantial gains with
American Can and Consolidated Gas.
Final prices for most of the miscella-
neouS showed trifiing changes. Sales
amounted to 7s5.0O0 shares.
The per cent. openinf and renewal
rate for call loans was met by private
offerings at % per cent. IN the latter
part OF the day. such funds were free
~ available at a. low at y per cent.
Time money was firm at Al to u per
cent, but high grade commercial pa
per was marketed at as low as per
cent.
Another light day was reported in
tho foreign exchange market. where
the further firmness of sterling bills
was in striking contrast to reactionary
tendencies elsewhere Allied remit
tanccs cascd two to six points and
most Of the neutrals. Norway and Swe-
den excepted. were lower. with Ger
man marks two points under their re-
cent tor.
United states war Rotations, as rep
resented by Liberty issues. were the
outstanding features of today's gcner-
ally strong bond market, with easy
money as AN accclcrating factor.
New top prices for the year were
registered by the take exempt BIS at
i0i. second As at 100.lS first AIS at
i0l. second As at 10000. third AS
~ 1NO50 and fourth AIS at 101. while
the FIRST As duplicated their previous
maximum OF the year at 10o.50.
Foreign war loans made an indifer-
ent showing by comparison. British.
French and Relgian governments man
ifesting no definite trend with heavl,
ness in United Kingdoms OF l93 ana
several OF the French municipals.
Domestic rails were not affected by
the railway strike, most changes in
that quarter being in the direction IF
higher levels. with especial strength in
Louisville & Nashville As, Great North
ern SIS and Is. ST. Louis & Iron Noun
tain a.. and Chesapeake & Ohio con-
vCrtihle IS.
Changes among industrials and util-
itics were narrow except for the three
unint rise in Consolidated Gas IS. To-
tai sales. par value, aggregated S14,-
633. 600.
Among the few new corporate offer
Ires was the $4,000, 600 per cent. first
aud refunding mortgage bond of tho
Northern States Power Co. Of Minncso-
IA sold at price To Weld 5.1i per cent.