Daily Kennebec journal., 1922-08-24
]. FINANCIAL NEWS
NEW YORK MARKET
.,... Of tho Days Dealings in All
Fe''' The Leading Stocks

x.u York, Aug. I5.-IEIee ular price
...nres, mostly downward, TOOK place
= 'ttoday's fairly aetlve sootk & market, aai1
pres anthracite coal strike negotia-
Of lhe nd The pessimistic reports from
toAs of the railroad presidents.
ne tselm mI shares, especially the anthra-
n ha carriers, sold off substantially at
Gte onening but recovered somewhat
y. ,!.sr closing quotations generally
lsl,; only fractional declines. A
.lo"iss, 90 iss,es, like Northern Pacific, Mis-
rev. Pacific preferred, Louisville a.
sellti plttsburg G. West Virginia
AsssWestern Maryland. closed at slight
Nu Some disposition of recent
sainTs TO convert paper profits into to
su.h s:h was noted in rail transactions.
essM,yican petroleum furnished the in
aividual feature OF the session, rising
Ia.rly nine points on announcement
isa. the company had settled for five
ns. Is,,hs export taxes to the Mexican
a'~ernment under a recent decree
s,.ch fxed the rate at 40 per cent. of
W. MI tax last year. Allied Pan-Ameri-
M ~, issues strengthened in sympa thy
~ S.b some Improvement also being not
II in General Asphalt. Mexican Sea-
ta,rd issues, Cosden, Houston and
sene ovrn ot the other domestic oils.
Tpossl5jlty of rate war because of
.,s increased competition in trans-At-
,a,,;r service was blamed for the con-
,'rned weakness of International Mer-
can,jle Marine preferred, which slip
nd back a to new low record on
tvrr Imarcan International Corporation,
a.Isn,lc Gu!t and othr shipping
shares receded in sympathy.
demand for equipment shares was
entered today IN Pullman Car, which
advanced 8. points. Other equipments
we're irregular. American and Lima To-
rorotiyes and American Car Il F'oun-
dry showing nominal gains. while
BALDWIN Locomotive and General Elec-
iric were relatively backward.
Passing Of its dividend caused pro-
nolnced weakness in the Worthington
pump which fell four points to new
low, while speculative disappointment
aver the failure Of Montana Rover
directors to declare an extra dividend
was held responsible for the reaction
in that stock. American Telephone
frmation Of reports that a further is
sue Of stock Is 10 be made in the near
future.
The days sales totalled $50, 900
shares.
Just after the market closed it was
announced that the board of governors
had refused the request of members
Y
teGber :.
Call money opened at 81 per cent.
but was advanced to 4 and thence TO
A. where it closed. A slight stiffen-
ing was noted in the rates for time
money. with comparatively little ac-
nvity being noted.
Foreign exchange rates were inclin-
cd TO weakness, German marks being
quoted he'ow seven cents a hundred
for the first time in history. Czecho-
slovakian crowns continued their up
ward movement. establishing a new
high rate at SAT, almost double that of
q month ago, but yielding to 343 at
the close. A sharp collapse also took
place in Portuguese exchange, escu-
dos, which had been quoted above
seven cents early in the week, drop
ping to $50.
Speculative railroad mortgages. sew
sra of which moved to a new high
ground, featured today's irregular
movement in bonds.
Missouri. Kansas & Texas adjust
meat is. which are dealt in ON a
when issued" basis. broke through
Tor new high on gain Of "a points.
Presumably on belief that the ; per
'ent. interest payment for 1872 Will be
laid next April without fail. Frisco
ncon" rs also moved to new high
etei while gains of ]! points or more
"Fl' itltd' ny AHicdRb ~ aItOn IS. -.
o. - and New York, West Chester
Boston Ans. st. Paul convertible As
mi Che oapeake q ohio convertible SIS
we're rcactlonary, declining one to II
aintS
The feature OF the late dealings was
ho demand for local traction issues
Sew York Railways As shooting up
40 points and Interborough Rapid
franStt. Metropolitan As stamped NOV
rg M y Hudson & Manhattan adj
Istment and Third Avenue adjust
nents also sold at the years best
ricCs
In the industrial group Chile Copper
5 established a new peak, but weak
sss was noted in Marine IS. Cerro
q Pasco IS and United Drug SIS. Gains
{ point or NOR" in Mexican IS and
''ty "f Ecrnn IS featured the foreign
most Of which held steady.
.ihortN bonds continued weak
Total sales, par value, amounted to