Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1922-09-02

NEW YORK MARKET
Features Of the Days Dealings in All
the Leading Stocks

Now York. Sept. Lowering Of
.ho!t contracts furnished impetus TO
10 upward trend OF 1rices in today's
,'o,h market. Total sales. which
,e.tment buy ing by traders who ex-
pct "A continuation Of the bull move
i1.nt next week in anticipation Of bet
i,r business conditions. Gains Of one
t. three points were numerous In both
IL railroad and Industrial lists.
one OF the outstanding Developments
Ct the day was the raid on Erie issues,
pprdrcntly an indirect result OF the
,t,ugo ~ Alton reccivership.
lro common broke more than three
losing AT net loss of II. The first
aud second preferred suffered slightly
smaller losses.
OH shares were in good demand
presumably in response TO reports of
increased consumption, dut in part 10
several large corporations because OF
Inc coal strike. Standard OIL Of New
Jersey rose % points. Houston so,
Philips Petroleum 81. and General
Asphalt. ~ Mexican Petroleum re:
acted sharply after an early show OF
strength and the Pan American is.
,gcs rcceded In sympathy.
sugar shares mounted to new high
levels on increased prices OF the raw
Cubnu product and better trade condi.
Caue COS. announcement that it had
pad It's remaining 100000 accept.
ances. Cuba Cane showed a net profit
for the day OF one point. with even
larger gains In the preferred. Cuban
American and American Sugar
Motor shares responded well to the
report II the National Automobile
Cleuibcr OF Commerce that August
production would exceed that of July
iv -u 0op cars. Studebaker was ex-
." nd,n,, s$ san dlos'n moved at us sajn
aHI General Motors improved fraction
ais.
Consolidated Gas broke more than
FOUR POINTS on a Decent rate cut an
,u4,td nr the public service commits
t.t Oh" adoption of tho British Their
uaI unit standard would effect a saw
ue- Over the present candle power
jose fD pr cont. but dropped back
O. nat before the close. Time
Der vHs slightly hrmer due to first
.u '.t rlrnth rcquirements Out-of-
t.l uHnNs were the principal takers
mo'tcial paper the rate for
also was tirmcr in tone.
irul tone prevailed In foreign OK
,.. probably as tho result OF the
acceptance Of the Belgian COM
p"~it"p on German rcpara-
l.. lIHuc checks wcr" up 20 points
N. .uit'-p"rdtng gains in the Other
s VI continental rcmittanccs. Do
U. .''tliue rates were inclined to
u Iif
.I.t acceptance of tho Belgian
g.. rrH.. 'n'r on German ropsra-
t... .r.i uf"d decidedly strong tone
b. l.tn,l 4ocurtii"s in todal'S bond
j..r.r tut tree offerings of specula
ItIstd mortgages caused mark
Cd rreulirttv tn In" domestic list.
government 7!s crossed 9S
gI .u. t- passed 1oi al gains of ] (,
g.. iUI thct reCsd cd slightly in the
,.l ns~ Seine 1As also regis
.. n.t gain of ~ points. with sub
t.". Improvement being shown in
1.r.r pew cent issues OF Bordeaux
ltr- Narcotics and scissors. Re-
rI ..I Bolivia ~ also advanced n
Hr.. white British Ss were in greater
,s..l 1ttn they. have been for some
n.G lou e. aud convertible Is
tcacttonnrN In sympathy
go. '. bicak IN that rods stocks anS
I.r rHs decided weakness in Norfolk
, en4lDru -. Kansas city southern
lUI 20 rhul conNortihl" Is. CON
.... strength, was shown. how
,.. chicago < Alton rs and Min
't.... * ST Louis rounding IS. each
uI advanced TWO points Moder-
.u 70 tnCes also took place in the
'a <prthcrn fIs. Chicago & Great
Nr 20 Is and Hudson & Manhattan
i.nrN.ng -.
.ecs In tho Industrial and public
r..H urouuS were largely fractional
Dtrl Lut tho demand for Pa
,a rt. y Electric IS sent them up
Has comparatively little trad.
l,h.rtN issues, which showed
.t ,hHukc". Total sales. par
tII. were Sip.i3i 00b.