Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1922-09-27
FINANCIAL NEWS
NEW YORK MARKET
Features Of the Days Dealings in All
the Leading Stocks

New York. Sept; 2s.-Lack Of fresh
buying power and renewed Concern
over the foreign situation encoufa Red
professional short interests to greater
prices IN which drifted downward but
frortlly within narrow limits. The
=, l.ng movement was aided in its
.Eriy stages oy rather heavy offerings
from western points.
Domestic news was largely favor
able stcel centcrs reported Increased
production ana heavy orders, the lat
ter being partly accounted for by the
present rate on rails, which will be
itar'"Ncd y. ton October /, Car
lo1dmIs continued TO increase ana
nav Goa! movements are under way
u ho4A's "hefo the shortage was most
Trading was again largely in the
lunrs 81 professional interests. The
lack ~ Investment demand was ex-
,"ncd as tting due TO the hesitancy
Of PRESENT holders adding to their com.
iniiultn ts because of the threatening
~ poets OF the Near Eastern Situation
ana me uncertainty regarding the gov
'fAWeht pan Tor refunding its short
term obligations maturing in the next
few months.
tronhrmed reports OF capital re-
euJAs' nieht and possibility Of extra
~ ~" ~ disbursement continued to
have a favorable effect on STANDARD
81 securities, Standard Oil Of New
jersey using and Standard oil of
California 81. Pan-American and Cal
if"rnia Petroleum also substantially
be tered their positions.
Predictions that the August earn.
ings statements OF the railroads would
$40" heavy Losses as result OF the
minors and shipments strikes were
, ,t out ~ ne figures supplied by
~" mon Pacific system. the first to
make its report. Thh showed a loss in
net operating income for August OF
H5ie-ls below that OF the corre-
sp"nalng month last year However.
w August tnan IL was In July and
Larger than that for either Nav or
~" lr'"to the shipments strike went
" 'm~cI Largely as a result of this
among Ia" hardest hit in the rail
gf'rp. dropping J.! points. Atchison.
t"r'dian i'dciilc. Northern Pacific, ST.
H.. common nd preferred and Chica-
s. T. 'hw'stern also scored matte
Idl rcrc: SONS. Other changes were
Iatrtty fractional
S'm" ~ the specialties moved
st!rsl the prevailing current, Coco
Jewel Tea II. Dupont jumped up
.isI' points on turnover Of about
@oup sharcs
Total sales were $4,000 shares.
't!| money pcnoG and renewed ut
q per d. me-, hdt o2s"d off I. al t.
ot.-. II" tlrc money market also
Si'' l iouucnc 10 ease 81 mixers
VII ara h,cu ln'ding c IT Tor a u, r
cent. gaiD FOR tie lonser ln.tlirl Ii, 5
'ctdlHL money today at A. The bulk
81 prime mercantile paper commands
- p'r cent.
ign exchange rates were slightly
irws ular hut did not appear to reflect
an -orlous concern over Near East
a. lnpm'nts. Sterling yielded slight
w a. rrSponso to another large offer
ing If commercial bills against grain
ard cotton shipments, while the con-
tu'utIl' rates we're inclined to harden.
W. mess il both Liberty bonds and
hlfi grade and speculative issues pre-
e.. $50 cond is. second AS and third
IN. ln Il long time All the govern
IN. l sues were lower The general
ii. J'a. ~ attributed both to unc.r-
fait. eyer urw government financing
I| Md European pulitical situation.
lr tA. iut.IEl bond list French 75s
Bftau S. Reconsideration SIS. Bolivia
s. Y.l : .'. K declined one TO one
o., u hltf points.
ihga grad. utilities held I'D better
IN tn,. domestic list than rails or indus
half point, wor, II tod in Chile Copper
-. St i'aul p. .u-rai AS 81 Louis &.
Iron Mountain. Eivcr and Gulf As. Nor
folk - Western convertible GS st
Louis 4 Fan Francisco income 6S Sea-
board An Iiur rcfundtug is. lnt"rna-
tinnpl and GroAt Northern adjustment