Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1922-09-06

NEW YORK MARKET
e.,.urss Of the Days Dealings in All
the Leading Stocks

xev York, Sept. 5.-Settlement of
,,e hard coal strike over the week end
,r,narted q buoyant tone to prices In
soasy's stock market, industrial shares
sour points. Profit taking and short
,rrsssure against . few stocks in q
wsakened technical position gave the
market an appearance OF irregularity
st times 49,
,sndent steel mergers would be car
led 10 completion despite the ruling
~ the Federal Trade Commission that
.hey we're illegal monopolies. found
sYpression in the brisk demand for
.,sel shares. Republic Iron & Steel
eiosed at a net gain Of nearly three
oolnts, while Crucible. Bethlehem b
md Gulf were up point or more.
Norfolk 4 Western climbed to q
new peak price on reports OF the pos
sittlity of an extra dividend now that
the soft coal strike is over. Rock Is
and also established new high price
IN sudden and surprising outburst
~ activity. but it forfeited most of
rs gain before the close. Insofar as
me hard coal carriers were concerned,
Inc settlement Of the strike had been
.srge!y discounted, such roads as the
iackawanna. Lehigh Valley and Penn
sv!vania showing small fractional
BUYING Of Mexican Petroleum, which
suctuated within a range of seven
rotnts and closed at net gain of IL,
was attributed in part TO short cover
NJ operations. Publication OF the
Mexican debt agreement also was re-
garded as favorable influence The
regular quarterly dividend of SO on the
common and 81 on the preferred was
declared today, as were the regular
auarterly dividends of Sl.50 On both
classes Of the Pan American parent
COMPANY. Mexican Seaboard issues
were reactlonary on reports of heavi-
Is decreased production, indicating
further shrinkage OF the Toteco pool.
Poyal Dutch. Standard Oil of Callfor-
MIA and Barnstable b were all strong.
C5ppers moved into higher ground
under the leadership of Utah and An
aconda. The regular quarterly meet
.ng d. the kennecott Copper Co. direc-
tors scheduled for today was post
poued until later IN the month because
v. the back Of a quorum.
several spcClaltlcs were bid up to
II WHICH prices for the year on gains
ranging from one to nearly five points.
lotan,y American Wooden, United
states Realty, Allied Chemical, United
RNal stores. Famous Players, Ameri-
ca1 lc' and Baldwin.
TOTAL sales Appropriated 5000
sharrs
|a,i money opened at Al per cent
ana he'd steady at that tiguie through
oIt The session. Time money vas
sUgL'Iy fImer. due 10 first of the
month rqulr"mcntS.
Foreign exchanges were Irregular,
Brush and other Allied remittances
I".li1InG slightly below Saturdays
quptdt.oAs. The weakness in >the
ItGUaa rate was attributed to the IL
nlAclAE ~ grain shipments from this
country t. italy hungarian crowns
e ~ q new low of .0iA of cent
t.rEU VIM, CZecho-S lovakian crowns
sa1%'d substantial rccoveries from
.ast Ncrh reaction. German marks
sold aruuid $CN, I'll cents a hundred, as
c.Lntiod with the extreme low of five
cents.
&.'# h-ond accumulation of buying
orders caused slight stihening in
u"l,d pitrs- an today market but
most ,hargcs were OF fractional
tHdta 'i't,
Norfolk q Western convertible SIS
ld th' .st ot western mortgages with
gliu ~ =. points. but ali the other
'h,n2ts IN TINS group were nominal.
Ituerl Pacific convertible As and
frisco income 6s moved to higher
g.uGnl and the Sealoard and Erie is
-u's were relatively backward.
ure of the outstanding develop
~ n's was the strength OF French
h"Hd. Narcotics oa advanced II
i'Iats, bordeaux Us and French IS I,
Ni" modc!at" gains being recorded by
n = ul the Other french government
a. ana municipal issues, together with
those Of switzerland. Our own Liberty
issues held firm.
In The Industrial group United Drug
IS Armour AIS and Mexican Petro-
.-ta! ~ gained ground, as did some
Of tie steel company liens. Third
Avenue adjustment 5s crossed 6S for a
new high. and Broonlyn Rapid Transit
i and us certificates moved upward
in fairly active dealing.
Total sales. par value, were SILL,
s0I oNu