Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1922-10-14
NEW YORK MARKET


.,ytns Of special stocks and a
,,oadeninE demand for standard
abroad. rubber and sugar shares
Enabled stock prices TO continue
n,,r upward movement today. des-
49, violent setback in Standard
ol Of New Jersey. which registered
mot decline Of nearly 10 points.
Speculative disappointment ever
"a. announcement OF the directors
!, tho standard OH Of New Jersey.
,b,t no Increased dividends we're
contemplated on the now stock when
no 500 pr cent stock dividend be-
,o,ncs effective. resulted In n food OF
.silrr orders. which carried the
.oek down 80 2l6. ms against the
,.ars high Of $50 liz. established
esrNrr n tho week. a slight re-
roycfy was made later. Other do
mtstr oils In which trcrc has been
extensive speculation reacted in
,,mpathy. hut Mexican Petroleum
and Inn American issue swere car
red 10 new h,Ehs In expectation Of
extra diyidcnd disbursements. the
former regisioriug net gain OF IA
points
Resumption Of dividends on
southern Railway preferred stock.
which hnd hocn suspended for a year
ara l1lf was indicative of the i'm
rrotod business situation in the cot
ten bolt That stock gained points
oN.lc advances OF point or more
vcrc fcE stored ~ Reading, New
York central, Lackawanna and
Northern Pacific. central of New
tet-oy gained I IL on small tur-
u't.
E,lhrr stock made quick res
porgo 20 tic announcement OF high
~ rrpcF resulting from tho imposi-
ror nr high export duty by British
,uu.ial authorities u. s. Rubber
V.e pushed M four points and gains
u 20 nearly IL we're registered
- G"odricb. Kelly Springfield, and
T'.t sugar shares also moved up in
rejection - higher prices. Amcri-
,1r ,Una Cane preferred and Ma
u1t $40 climbed over point
Uuupmcut shares continue 10
muHnt ~ orders increased. Amcri-
r,n locomotive established a now
MrN ~ l7s 1-c and closed at a not
som Of points. while Baldwin i'm
pro'cd nearly point. The rise OF
moro han : points In American CEN
uo attributed 10 trade Improvement
nli unconhrmcd reports that the
stock would soon be placed on n
d.,idcnd basis. Continental Can i'm
rofcd IN sympathy. gaining nearly
'nlr points
Announcement NJ higher prices for
rows print in Canada proved bulish
card FOR International Paper, which
ad'ancod nearly point. Copper
s.arcs yielded slightly on reports that
lcsscning ~ tho Domestic demand
had resulted in tho metal Icing
quoted at II rs cents a pound FOR
delivery during tho next two quar-
'rrs. Activity IN express shares was
1ocompanied Ivy revived rumors Of
mergers and distribution Of surplus.
American Express being pushed up
moro than s points to a new Peak
rrro. Eumors Of extra dividend
slurscmonts also had n favorable
rNcct on StudchakCr. up "a and
cora Cola. up Ia. Total sales we're
!, 10000 shares
can money rates continued to ease
d'~ut" the sharp drop from IA to
~, per cent IN the Federal Reserve
Nnk ratio rejecting increased de-
Wand for funds for crop moving tur-
poses. The call money rate opened
y but softcncd 20 4 IL before Tie
close. Tho time money market vas
PiI't and firm. as was that for COM
m"rrlal paper.
Tho feature OF tho foreign on
tN'nE' market was the buying Of
Norwegian crowns which advanced
~ points. rejecting tho award of
approximately 100000 by the
Hague tribunal 10 the Norwegian
government on behalf of Is Norwc-
gan firms for claims arising from
ie1pisltion Of ships by the f.mcrgcn-
C' Fleet Corporation. during the war
Demand sterling improved on the alb
"noo ~ any noticeable offering Of
gram ana cotton bills and other
rates Nore irregular.
Heavy selling Of liberty bonds. all
n NJ" - series of which sold be-
Try par was tho feature OF today's
irregular bond dealings. the main
rcrf IN which was downward.
Speculative railroad mortgages
VIZ" tho hardest hit. losses of / TO
: points taking place In Chicago.
western ~, Kansas City South
'n Is, Great Northern Is, Frisco
income &c. Southern Railway. st.
LOUIS d.yision a.. and Chesapeake &
'f,o consolidated S. There were a
lfv rVoor'ions 10 tho rcactionary
H'nd 0 Tho rail group. slight gains
'''ns made hv New orleans, Texas
ana Mexico rs and Denver e. Rio
GFande consolidated ~.
Most ~ tho local fractions con-
tnNed 20 reflect selling pressure,
N"V lofk Railways I per cont certi-
n'a''s topping / "a. Brooklyn Ra-
lf I'lNstt Ts, | IL. and Hudson
Manhattan income 50. /. Brooklyn
y h''n Elevated was moved up 3-S.
IN M" domestic list. the outstand-
hF equipments were gain OF .
~ II lnvincthlc oil SIS and losses of
p" ? IN Consolidated Coal OF
NA'' lana ~. Mcthlchem steel re-
NNd0nr -. and Chile CopINrCs.
Except FOR a gain Of . "a in Cuba
republic 4 LIS. foreign Securities
"'''l irrcgulatly within narrow linn
~ '1hl" dispatches announced that
'' norwegian government has con-
''''i negotiations with American
'.NNo's for n loan Of 10000 900 of
VIVIAN ''ooo.o00 IL 10 be used to meet
no mafurItx. pn r-ak.,,a., roxt 80