Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1922-11-07

NEW YORK MARKET
e.a,ures OF the Days Dealings in All
the Leading Stosks

the Leading Stosks -
Nv YarE Nov. 8. Spectators for
M. decline. nndlng the stock market
v,akrn.d technical position as a
,salt 81 the rapid advance Of last
rTIrsday and Friday. today took ad-
,ntegr of the unfavorub!c Near East
=, news and tho unwillingnesc of
der. 10 carry stocks over the holi.
.,, fdrcug down prices one to three
pOlnW ,
Il tciDuIroW elections and the dispo-
/ mon of traders To await more definite
.y-Inpmcut4 ~ Turkey before extend
~ ihtIr commitments resulted in con-
,Nt.. loss activity. total sales ay-
t.Ag only .1i 900 shares as
'ctnY he million share average of
nat few weeks
rhe r actiunErs movement extended
ayr most 1T he iis,. but pressure
,,s concentrated IN the last hour on
t. En-, isslca on reports of n strike
/ q, cmp,uN eS Of the Pennsylvania Goa
a.. 40" oi iis principal coal proper
trs Er.r Asst preferred was the hard
.tf' dropping THREE points the COM
on i"Iaius %! and the second pre-
t.rrl IN Other low priced rails re-
| Idol h, n,mpathv. losses of large frac-
,ps tu tN9 points taking place in St.
la.. r.,, rrrd. Rock Island. Missouri
prLo. ha.uuUro Il ohio and New Ha-
Nr,Wnc. in.ut 10y tho American Rail
WIS Association that the demand for
rtstr- faoutflcS had caused the great
~ r,r shortage IN history. failed 70
| hsc, the decline IN the standard rail
shares losses ~ Il point or more being
STAINED 10y liradng, Atlantic Coast,
m. ~fp, ko a. ohio Great Northern
J .c.e,red alic Erie IL Western pre-
\ rrrd aud Mon Pacific.
r. "A nnt1hln
.us ~ thu downward trend. Chain
| s'ul, shares were bid up in spirited
& -lj,u un reports Of better business
ana possible extra dividend disburse-
r'nls Noclworih crossed double par.
SING AZ 3ni3. net of II points on
Pee Gaj. krsge was pushed up u,
coslhg at IS. and May Department
Stores established a new high at 1874,
teen slipped back on profit taking to
lils. ~ which price II was nearly
three POINTS above saturdays close. Du
r.rt Powder and otis Elevator also
r.r uun ually strong. gaining six
lD,nfe '.NtN.
6,iHr harcs were strong in early
'fet hHt they forfeited most Of
'r"r s.ns IN tho final reaction. A
'i.i.' sllcnins of copper prices was
noted as a result OF the large volume
IT,. m'fal brought for domestic ship
n'n' l1 III" last few days. Chile and
trrU Il" PhSCo each sold at least n
rnt 'hoN" saturdays final figures,
fit !lt,r reduced their gains to frac-
mons. Dom" Mines established new
'"p ~ -. m speculative expectation of
an VIA dividend. but il slumped later
I" y. ~ - points below Saturdays
,,ns,
l'ryft taking and short selling in The
on mar \ caused some substantial re-
"s-"n>. Mexican Petroleum dropping
i'liH lhr'e points. and losses of one
I" ~" being sustained by Standa rd Oil
~ New Jersey, ROYAL Dutch and Cen
cral Asphalt Stcois offered better re-
,-ianN' Ia pressure. most Of them
Wedding on ~ fractionally. Baldwin
paints.
cam money opened at ; per cent and
then advanced to- ~. whore is closed
TIE nm" money rate held at ) per cent.
comparatively little busin' SIS be-
ls' Transacted Only IA relatively
g. coming into tho market. the rates
!1r 'ulrh are unchanged.
t,r BUSINESS Of tie Near Eastern
Ifljrt was reelected in the heavi-
s "l foreign oNchang" rates. Frerch
'.u.s and German marks dropping to
rw low levels for the year. Demand
Hhrg also reacted more than one
. .'f - Siii2. Il large volume of grain
t.. cotton bills being contributing fac
il. ipw Railroad issues Ia response to
".N LIQUIDATION in the final hour was
"' landing dcl clopmcnt in today's
1929. M1rk,t the price tendency in
~ i N1' mainly downward. Reports
o. 3 'Tgkc at otmplOycs of the Penn
t''Ht.l coal Co. one of the chief Erie
f.. lnrttcs. was the only apparent
l. -U far tic setback in these issues,
"ro"mpanied the slump in stock
i.t.r contcr; .blc Is. series T., were .
'H httdrsi IA. Dropping six points,
th.. lhc series A hnd tho general I,
r'tn not far behind with lOasCS Of j = |
,"r's Zach The series II bonds sold
n ana the prior lien is and Erie |
q 'tI-,S - Tire" each.
',l.r speculative railroad mortgages |
d "ioi vi sympathy. losses of on" 10
n.lntS taking place in 81 Paul gen /
-. convertible as ard runyertiht" |
i'.isc" prior len ~ nEd income 6s. /
n"r y phiu.go Is and Chicago |
q Mont western -.
l.,'lgu bonds Yielded under tho de- !
sIur influence OF the belligCroui |
H'" il"n Turkey. most of the i.nro- |
j" u Nasu,s ,iUrg ~ nc Wl"w !oN"IS |
H i'N iu'tuiHtut. French : S and -. !
l' u ,-s and S.. Italian Gs, Sois- i,
'''- -, L1"us Cs Sc.ne -. Queens.
@nd ~. CuguuN M. Zurich s. and |
m -. H. sI 'loscd ono TO / points :
saturday : mail prices. |
I,.',tt a Myers hs were the weak
80 !'t ~ the industrial division. j
ID u"lipg = points. while Cuba Cane |
~ and iroduccrs Il Eoiiners NJ. with |
y 'tIlui-. dropped TWO points each. !
H. ''tu 'upr Sugar ~. which recently
dltg stN points on dissolution OF !
No. 'G"ung SNuCicatc. fell back an
irt point today.
TL,rr v,rc II few exceptions how
fpI. The dow ward trend. CHIC |
'll"r = were Il notable example.
{ .a.- nearly four points. Cerro de
ia.,p N~ and julius kryscr is cach
amh,d on, The railroad list also |
"A few strong spots. particu-
tly southern Railway. 81. LOUIS d.
sons IS and Toledo. 81. Louis n
" 81. IN Is each up about two points.
tu.tcd states government bonds re-
acted with the rest of the list. a.
ilDcrh tie first Liberty Is. ordinarily
lnd,ut.. sold GO cents on S1OO above
their last quoted price. The second 4s
dropped 10 cents and the 43s series
were four 10 80 cents below Saturdays
tnal figures.
Total sales. par value. were s16.-
$4,000
Tn, principal offerings today were
IT, us poU 900 issue of 2O-year per
1t. Chilean government ponds Of
tetcd az sCi and the $1S,S05,000 issue
NJ .o-year ) per cent. first and re-
landing mortgage bonds OF the LOUIS,
Vile Gas X Electric Co., offered at '9la
10 Weld 500 per cent.
;. W. Straus & Co. today announced
'' purchase of $4,000, 900 issue of !
NtHl mortgage 6 per cent. to l5-year |
:. lal bonds IF the Insurance Exchange !
Operation III Boston. The mortgage |
uN@N lhr lind and History exchange !
"uitding tn he erected in the Boston |
q