Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1922-12-27
Na - FINANCIAL NEWS w
NEW YORK MARKET
Features Of the Days Dealings in All
the LEADING Stocks

New York. Dec. 2G.-Stock prices
generally exhibited a firm tone at the
beginning of the closing week of the
Year. Except for an advance in crude
oil prices in the Wyoming field, there
were no particular outside news de-
NelopmcntS to account for the rise, the
buying rejecting speculative confidence
in business conditions during thes first
part of next year and aggressive pool
operations in special shares.
Suldebaker was one of the individ-
ual features, establishing a new peak
price for the year at 140s. but reacting
half point on profit taking. the net
gain on the day being 81 points. Buy
ing of Studebaker and other motor
shares apparently was in anticipation
of increased sales following the winter
shows, which begin in this city next
month. Studebaker sells eX-dividend
% per cent. in stock on Friday.
New high records for the year also
We're established during the session by
with Henry Ford for the sale of some
of its kentucky coal properties; Stew
ant Warner Speedometer. Stromberg
tarburetor and Endicott Johnson. buy
to expectation of stock dividend! early
next month. On the other hand. Ma
rnc preferred. which recently cut its
dividend in half. established new low
record at 43a as compared with the
years high Of S72. and closed at 44a
Tor net loss of "a points.
Baldwin was bought heavily on spec
uIatlve expectation that the yearly re.
port will show the common dividend
fully earned and sizeable sum carried
to surplus. The stock touched 1869, a
new high on the movement, but roasted
to lS4s on profit taking. Stromberg
tarhuretor closed nearly five points
higher. announcement of proposed
iho per cent. increase in capital and
declaration of a stock dividend being
made after the market closed. Otis
Elevator dropped two points on offi-
clal denials that the company proposed
10 split up it's common shares on q
lour to one basis.
American Sugar stocks were strong
despite announcements of cut in the
Tehned product by some Of the larger
COMPANIES. gains of q points each be.
american of beet II sugar. '1 HigR esa prices
Tor Wyoming crude oil found reflection
IL; IN gains of one to nearly three points
n n Pacific Oil. Philips Petroleum,
sn snd Produe Oil Ct Re Gsf2rna Gesaen
Petroleum dropped nearly three points
Some of the other individual strong
spots We're Burns Brothers A. Chicago
rheumatic Tool, General Electric, Pig
ranging from two to four points. Fish
Ing and Allied Chemical yielded IL in
aoS ,e to speculative disappointment
Vi lHe failure OF the directors TO IN
srcase the regular 81 annual dividend
taIe at today's meeting.
ia, Rall shares moved in conflicting
aan,aanner. Reading. New York Central
m nliu louisville & Nashville recording
moderate Improvement. while st. Paul
,, ranfn and preferred and Lacka wanna
n m,ere redctionary, the last named drop
ping nearly three points. November
,ws,s,nSings statements published thus far,
c Win the exception Of Lacka wAnna,
v.m VAN favorably with those OF No.
'ember Of last year.
put advanced to 5 during the noon
TIT phur and thence to 81, where 1t closed.
ana ire were no changes in time money
i in a. commercial paper rates. business
mar rach being dull. With the London
ho,;Sscts closed because of the boxing
wnas s business in foreign exchanges
in 70, Iulet with no important changes