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

xew York, Nov. 10.-Speculators for
a.. decline succeeded in forcing an
.,b.r recession of prices in today e
s.nck market. taking advantage OF a
al Of public interest in the DISPOSE
,1on II large interests. to delay max.
more careful analysis of election re-
suI,s and more definite Developments
- Inc Near East. Prices of the popu-
iar issues showed losses of one to two
noints on the day.
nnmhcr OF issues showed signs Of
,treneth in tho early dealings in re-
snorse to the bidding up process of
XIII operators. However. the large
lime Of stock offered at the higher
rr,ces and the failure to attract an
plr.sIde following soon discouraged the
,n,ctllators for the advance and they
beran 10 take profits on recent pur-
rbdses The slender support accord
Cd q number OF standard issues indi-
,,ted that tho recent reaction had
failed 10 completely correct the weak
ercd technica. structure Of the mar
6 steel common failed to respond
fayorahly 10 the monthly tonnage
statement showing an increase OF 210,-
"a tons IN orders. In fact. the stock
was subjected TO short pressure soon
sfter the announcement and II sagged
70 1861. A points below Thursdays
brh. tut rallied TO 101i,at the close.
not loss ~ - vi tUN OtI'f
s,ocls vcrc weak In sympathy. Rethle-
rom T. dropping Ia. Nanadiurn n. Re-
public u and cruciblc and Mid,a.e /
each
prcs4utc nv the carly dealings. 9cing
aonn nc1r.v three points at ono time,
~ = c,u.,l only n small fraction be-
low A.' nights close. Ia ldwin. Stu
e.hat,r aud Mexican Petroleum. spec
,IaI, .rAorItcs. all showed losses at
fs,t I,.a,p p1 Nn
frl'oIw Icing about two points below
Yesterdays tnal ngurcs, while Stude-
j3.,r n.- on only :.
tf,-' 'f tn. standard railroad shares
strasd ffa'tional Losses on the day,
bot ii9diug In THIS group was quiet.
Mi r4t lHcihc preferred opened tw"
n..f, hghcr and then cancelled IT'S
caiu N,rfoik a. Western dropped II.
N.rthcru Pacific u. Chesapeake Il ohio
u chltaEu X Eastern Illinois two
am y York Central I.
4 -hatp II -ppint rise in Dupont
"ovd,f brought about fractional i'm
rru,'mrnt III Genera Motors. which
owns lerpc nlnck OF Dupont stock.
rru,gal Asphalt recovered Slightly
fi.n I'e weakness of YESTERDAY and
mihSr Improvement was shown IN
Il, r4rCtuu Typewriter preferred
st'r.e L'I'h'r stocks were conspic-
uouslt weak. particularly Barnet
Central common ana preferred. which
uctc cf +. .. and points respective
is, Huuston Otl broke four points on
publication uf tn" earnings report Tor
u.r fourth quarter, which faih d to
.or, iip TO speculation expo tion2,
hu' ihu stock rallied bit later.
Total sales were ao6.no0 shares.
t,Il money opened ut - per cent.
hut caSrd off to in tho carly after
noon. dosing At that figure. The time
money market continued hrm with
trading quiet Only small amount OF
rcw commercial paper rs coming INTO
tho market. tho bulk of the prime
nrutoS moving ut A. per cont.
Foreign exchanges were irregular
with 4, mand sterling holding around
81 u ana French francs selling only
shEUtly above $40 cents each. The
Iajian rate improved slightly and 9TH
or changes We're unlmporiant
Bond prices were decidedly weak n
t"daNs comparatively quiet dealings,
iorotgu securities and railroad mort
gags showing tho largest losses.
Whl,h ranged from ono To two points.
I'1ris-INons- Mediterranean IS, which
originally wcr" offered 10 the pubic
at 81. sold today ~ IS. a net loss OF
two points on tho day and u new low
record Losses Of point took plac" IN
Norwegian Is. Ifagn" rs and feracn
SIS while III" French AS and SIS DO
cuncd fractional the former oqua IL
irr ihcir low of the year. Seine IS.
wti.u woro weak yesterday, rallied |
mot. Than point.
Among the largo number Of railroad
bonds which registered declines of
POM or more were Missouri ''aclhc
- Norfolk y Western convertible 6S,
Ntrhlson convertible Is of 1860, Con-
mai Of Georgia consolidated IS. ST.
Paul convertible als and rcfundinC IS.
- l.ouls a Iron Mountain River 4
';ulf IS and New York. Westchcster 4
Boston AS There were few cxccp-
toms 10 tho downward trend, notably
ErIc general Is and prior lion As and
VI uncap"lis-St. Louis rcfunding 3s.
Farther profit taking in copper com |
PAW lions was indicated by the three
point drop in chile copper IS and ,
cclinc If on" point in C'rro dc Pasco !
NJ bthcr weak spots in the INDUS |
irinl group were South Porto Rico SUI
gar - and bethlehem steel refundinS |
Sc off about - point each. Marland |
on 7ts and Wilson Packing convert |
tlc IS were strong.
Liberty bonds were irregular. The |
Sts dropped Is conts on 500 and tho |
fourth AS and uucalled Nictorys four
each. whiio the hrst and second AIS ad-
1anccd ~ and ~ cents respectively
Total sales, par value, were ll,2o4,-