Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1922-11-04
FINANCIAL NEWS
NEW YORK MARKET
Features Of the Days Dealings in All
the Leading Stocks

New York, Nov. 3.-Priccs contin.
ued to move TO higher ground in to-
vas interrupted At times by extensive
nruht taking and experimental short
Selling In an attempt to uncover weak
spots
pri5ys by the studebakcr corporation
IA ckcd the realizing sales in the late
sftcrnoon and brought about a rally
which carried a number of stocks to
baker gaining three points. United
| stats steel common was pushed up
more than two points to 1914, all Of
ierings being readily absorbed.
The Vance OF the last two days
| has brought about n substantial reduc-
lion 81 tho short interest. but the VOL
ume OF sales, which totalled only, 971,-
en0 shares today. indicates that the
covering operations are far from com
plct4nn Professional sentiment con-
nurs bullish and pools are again be-
ginning to operate in special stocks
Railroad shares enjoyed burst OF
art1ity IN the mid-season. but extern.
s,e pront taking cut heavily into
mIrIg'd to register net gain of a
POINT or more included Lackawanna,
I'm, inst preferred. Atchison. Chicago
Eas''rn Illinois. 81. Paul preferred.
Hud I'm, st. Louis Southwestern pre-
ferr,d. linton Pacific. Texas a. Pacific.
ana Wheeling Il Lake Erie.
Independent steeis we're pushed up
4. g, mplthy with United States steel.
gains Of on" TO nearly two points be-
ING recorded by Bethlehem y, Cruciblc.
Mid,alc and Republic. Equipments,
which were among the leaders yester-
da,. ioil under the weight of realizing
sales today. but Baldwin and American
Locomotive were later able to rise
fra,tlouallY above yesterdays closing
feuirs. while American Car improve ed
one point
\ bctirr domestic demand for copper
and higher prices for other metals
found expression in the increased ac-
u,ity and higher prices for copper
shiirs. American Smelling, Chile,
kouuocott Butte IL Superior and Inspi-
Iattun rose approximately point each
S"unc exec ll"ut gains were made by
motor accessory shares. Fisher Body
Jumping seven points and American
D. Magnetic .. Merchandising
meul. particularly Associated Dry
Goods and May Department stores.
NJ Nlcsn Petroleum again assumed
leadership Of the oil group with net
gam OF nearly four points. but the
ai"od ran-Amcrican issues were
lHtN, dropping more than point
ga, standard on of New Jersey
preferred improved n point but the
common and standard Oil of Califor-
ElH Declined fisctionally.
ca..d If To- 4 aud then "a. whcrr il
'"s'd. \ latRe volume of tim" money
T. Icing placed at > per cent. tho h,ftN
d fHr loans being made for thiC, gnii
lnur months maturity. out OF town
tonh. ST" tho principal buyers of COM
m't'I'l paper the rate for which con
ilnu'- At !, per cent. with Few names
selling At a.
l'ufrlgn Exchanges rates were irreGu-
lar = ring advanced slightly despite
E'rN' offering nf cotton and CONNER
ciai hllia while heaNincss was noticed
IN IN" French rate.
German marks dropped to another
nov low record at a-l6 cents a hun
dfrd. bat rallied later to II. Swedish
'Nchane" established n new top price
tnr the year selling as high as IS O.;
luf 4i'lding IN latcr dealings Cana
dau dollars were still selling at a
sIANt premium.
Errstablishm"nt Of tho par price by
IN. nlt"d states gov eminent 4. per
cent bond. which had Slumped aS low
Rs rs ~ within the last two weeks
Nas the outstanding Development N
ihe upward movement in todaN's bond
market Foreign government SCCurl-
ties. copper company liens. local traC-
toms and speculative railroad mort
gl4' registered the best gains
luguHy 81 provided the feature of
M r~tsh group, climbing - points.
tnH ruut g'inS we're made 10y Belgian
n. EHIil largo 7Is. Copenhagen "4s.
tt'. nf Sno l'aulo ~ aud Prague IS.
GiHr government ~. Havana Electric
EaoNsN 6s and Lyons 6s were ,cac-
Tlsdlnr in Liberty bonds was quite
a'. with III" third as making the
l.#t s'"Ving with a rise OF - cents on
S'W. NdNAuc"s IN IN" other active is
~ t''g"i from ~ to rs cents.
t''ru ,r IHsco 81 led the copper
'".nrput securities to higher ground
Win gain Of three points. Chile cop
r'r ts aud - and American smelling
- 10 To H. Local fractions were
tho most nciiNo OF tho public utility
is-urs. llro"klyn Rapid Transit as and
corr 1rrt" -. hudson & Manhattan in
c"u. 't and Third Avenue adjustment
~ ing on" !" two points.
nrrrtainiN over the ultimate trend
81 h"ni pieces H. reflected in tho heaN y
pDr Nps "f short term issues in tn"
la-t few DAYS. Baltimore 4 ohio as
81 ia2' and -. Louis Southwe stern
Consolidated ~ of 1882 being among
III most popular. Eric Railroad mort
gases "gnin wcr" the most active in
t'' speculative railroad list. the gcn-
'iHI T. climbing two points. convertible
y. ~rtt'S \, ono. series ~. and ID
mo,ed up /, points and Atchison adj
iuN Hrut Is stamped KATY" frsts.
TryNs X Pacific hrsts ana 81. Louis
lf,u Mountain River ami Gulf Is. all
S9H nj least point above yesterdays
closing figures.
I'IN Nff' low exceptions ~ tHc
upward trend. the most important be
ing siN-poInt break IN Eastern cuba
sugar as, which followed the with
drawal of syndicate support. Other
veal spots were Liggctt & Myers IS.
tnmpr ng Tahulattng & Recording
-, Steel a Tube of America Is and
Ma land oil So. all of one to two points
total sales, par value. were slG.-
eSH u0p. -
T1erc were no offerings OF import
snre TO-DAY. The SlS.000.000 Chilean
ro,ernmcnt issue will be to the public
carlF u"Nt wock ~ price slightly un-
Or part nv {, syndicate headed by the
NATIONAL city Company.