Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1922-06-10
Stock Markets
NEW YORK MARKET
Features of the Days Dealings in All
the Leading Stocks

! New York, June 9.-Stock market
! prices were again irregular on a very
! small turnover in the early stages OF
! tQday's trading, but became decidedly
! heavy in the last half of the session
| when the weight Of offerings effected
| numerous extreme reactions of one to
| four points.
Almost 40 per cent. of the days
business was transacted in the last
hour, the entire list then displaying
general unScttlcment. Net declines of
one to three points were registered
my such LADDERS as Baldwin. Studeba
kcr, Mexican Petroleum, New Haven
and Reading.
Among the more speculative shares
of the shipping, motor and oil groups,
the selling was of "A character lndiCa-
tive of enforced liquidation. No news
Of a definite character developed in
connection with the decline, but Cos
sip ascribCd the reversal in part 10
the house cleaning now IN progress
on the exchange. SAFES amounted to
1,115,000 shares.
There were no new phases inathc
general financial situa ton aside from
the initial renewal rate Of : per cent.
| for call loans, that figure being shad-
cd to per cent. in private offerings.
Open rates for 80 and 60 days funds
also showed concessions, but longer
maturity remained firm.
Latest revelations i'll connection
with the Midvale- Republic Inland
steel merger continued to operate to
the dctrImcntof those issues. but ru
mors of other industrial and railway
combinations were actively irregular.
Specific reference was made to the
Pennsylvania, Seaboard Steel and Car
pcnter steel companies and reports de-
clared that such railroads as Missouri.
Kansas & Texas, Chicago q Alton,
Kansas City Southern and Texas 4
Pacific were about TO establish ad-
Vantaecous traffic agreements
Better earnings by utility companies
were indicated by the resumption on
a higher basis of dividends on Brook
lyn Union Gas and general business in
the middle west showed substantial
Improvement and larger distribution
on the more essential merchandising
wares.
International currcncics continucd
to he influenced by the attitude of the
bankers committee regarding an in
ternational loan to Germany. Rates
on London were steady. but virtu.lly
eased two TO eight points, while
marks at .341 were 81 points under
last weeks rally.
Liberty issues retained their place
as leaders IN the bond market today.
four of that group rising to par or
better. despite irrcgularity and occa-
sional heavincss in other government
loans.
McXlcanS manifested further weak
ness in the early trading but rallied
although rumor had it that the rrcs-
emit conference between international
bankers and representatives OF the
Mexican government would be barred
of results
United Kingdom SIS were firm. re-
gardless of the easing Of British cx-
change here. Cuba Republic 5s of Qni.
CHILE Republic and Chinese Railway
js also improved
Toledo, st. Louis & Western "a. st.
Paul As. Brooklyn Rapid Transit rs
and Consolidated Gas is were one 10
Two points lower. but hrmness was
shown by Baltimore * Ohio convertt-
BILE 44s. Reading is. Illinois Central
refunding As and Rock Island refund
ing - Total sales, par value, aggro-
gated s15,337000.
Excepting tho successful Offering az
S2ooooh, 900 certificates Of indebted
ness ny the treasury department. the
Gay was devoid OF new UNDERWRITERS.