Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1922-07-08
Stock Markets
NEW YORK MARKET
Features of the Days Dealings in All
the Leading Stocks

New York. July 7.-Business in the
stock exchange today was marked by
greater brcadtn and confident under
tone, despite the existence in more
acute form of international factors
which gave rise to greater apprehen-
sion.
French Italian and German Curren-
cics were at lowest quotations for the
current movement, their decline. in the
} opinion of conservative banking inter-
csts clearly rejecting fresh disturb
&nces in the foreign economic situa-
ton.
Rails opened the session at variable
advances over yesterdays gains but
these We're he'd Within mario" limits
ana almost entirely forfeited in the
profit taking If the afternoon, a few
leaders closing at sharp declines.
independent stecls. affiliated equip
ments motors and numerous miScella-
reous industrials and specialtes par
ticipated irregularly in the early rise.
but fell back as the session progressed.
Studebaker was the one prominent eX-
ception, making steady advance on
very large dealings and closing at a
net gain of ~ points.
Selling Of the Mexican oils was re
Sumed. Mexican Petroleum fuCtuatlng
within a tivc-point range and ending
at decline of os. with loss OF IL
for pan-Amcrcan A. shares. BONES
tic oils We're inclined 10 strengthen
Pacific Oil responding to the faN"rahl"
showing made in the first annual re-
port.
Ccppers. feathers. textiles and sew
era. of the base metals had their occa-
sional periods of activity and strength
The one exception being Na a head
amounted to $4,000 shares.
Call loans opened and renewed into
the coming week at Al per cent. but
the demand for money at that heure
and n a
per cent in tea last half hour of the
day. Quotations for time funds We're
unchanged buc brokers reported reia-
tive scarcity of offerings for other
than short dates.
Sterling was the only leading for
oien currency to ignore the weakness
manifested by other European rates
although exchange on Italy rallied pc
fore the close of the day. NeutraiS
ended at mixed gains and reactlons ana
the quotation On Czecho-SlOvakia made
spirited recovery from It's recent oe-
preston.
Keeping pace with. the greater, &C
tiyity in the stock market. TO-DAY
trading in bonds on the eNchange M"s
the largest in volume and most diver
sified of any session this week.
Liberty issues did not repeat their
spectacular performance or the pre-
vious day. only one OF that group
No first 4s-scoring a new higher rec
ord at 100.S0. REALIZING for prohts
nrCbablv caused the nominal declines
made elsewhere in that division.
Foreign loans were reactionary. their
heavy tone being ascrihed to further
Generalization shown by internatlonai
crrrencies at this center nlted
Kingdoms Of 1887 lost one point and
french government 13s and Mexican
government As eased on moderate Of
fArings. ~,
Many domestic rails were higher by
one to u points. the more conspicuous
issues including Atlantic Coast Line
Is. st. Paul As of 1925: Pennsylvanla
general 5s Ere general As. Minneap-
Hlis & st. Louis As, Colorado & South
rrn refunding 43s and Missouri. Kan
sac & Texas first As; American Ttle-
i,hone convertible As featured inc
.tronger utilities at gain of p
points Total sales, par value aggre-
offerings Of the day, for which a
rcadv market was found. included Sl3,-
800. 900 Detroit City Gas Co. per cent.
frst mortgage bonds and SS.31h.Hoh
Reading Railway per cent. equipment
trust certificates.