Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1922-09-01
FINANCIAL NEWS M
NEW YORK MARKET
Features Of the Days Dealings in All
thu laadino Stocks

VIZ SvsS'"0 SsSSVo
New York. Aug. S1.-Confused price
market. but closing quotations were
generally higher than those OF yester-
day.
ownership for the Chicago & Alton
railroad, because Of heavy expenses in
cured in the coal and rail strikes in
dured bearish operations. especially
against the cheaper rails, which tenn
porarily unsettled the market. Senti-
n,rnt became cheerful against, how
ryer. On advices to brokers indicating
a speedy end OF the anthracite coal
strike and a brisk demand for oil
shares. which apparently was based on
government reports OF heavily increas-
"a consumption and decreased produc-
ION Of the crude product during July.
Wall street was not wholly UMPIRE
parcd fer the Alton receivership. The
prefe-red stock of that road had
closed Wednesday night at 81 and the
common AT 81. The opening sale to-
ia,"r ard closed at 50 while the COM
mon declined TO ~ before II rallied and
coscd AZ "a. The break In bonds was
mnrh more pronounced.
The heaviness in Alton extended to
other low priced rails. but most of
Nom recovered part OF their losses
trfore tho close. Western Maryland
vas ~ II on the day: Chicago Great
Western Il. tbs. preferred ~: st. Paul
LOUIS Il, Kansas City. Southern {:
Twas & Pacific |. and New Haven !.
Canadian Pacific crossed ISL on re-
norris thst the volume Of freight traf-
r. vas now the heaviest in it's histo-
~ Equipments were in good demand
mon publication of q report that the
T,nrsrlvanla rnilroad had ordered 100
largo locomotives from the Baldwin
COMPANY Baldwin advanced nearly
roirt With sympathetic gains being re-
corded hv American Locomotive. Pull
man American Car and Railway Steel
NeHlcan Petroleum enjoyed another
If tts sensational moves today. closing
a. net gain Of ioS points on heavy
tuyng rs speculative interests. Both
issuns 80 pan American. which con-
,rcls Mexican Petroleum. advanced
moro than thrce points. Most Of the
other fore On and domestic oils show
cd only fractional changes most OF
ihom upward. california Petroleum.
however. moved up 90 points on fair
" expensive turnover
spcclaltios which registered substan-
vial gains for the day included Ameri-
,ure Ccal Total sales approxima ted
-tr ann sharese.
Foreign exchange rates were irreg-
MAR. tho announcement or Premier
roincares acceptance or the Belgian
cornprnmise on the German reparations
question coming too late to influence
todsVs market quotations. Early rates
~ demand sterling and continental re-
ri'ianccs we're generally lower, but
they improved as the day progressed
Czecho-S lovakiar crowns continued to
drnp under speculative pressure.
Call money opened and renewed at
a ner cent. the highest rate in more
,Nar two weeks. and hardened to nv"
n, tho close The nrmness was due 10
September ! ani holiday requirements.
Time n,orev ratesc we're virtually an
changed with little business being
The sharp Break in Chicago & Alton
bonds which followed the overnight
announcement cf n receiVershtp unset
'led todays bond market. second
grad. m 'lroad mortgages being partic-
ular'v susceptible TO selling pres
sure
The Alton AZ closed with p not loss
of7t points and the 3ss lost 81. Losses
- 'hrtn 10 nearly Eve points took place
y Minneapolis & 50. Louis rcfunding
q. and - and Chicago e. Great Weset-
frn q. white declines ~ ono 10 ~
roi0's were noted IN Minneapolis & st.
nfr' &c Iowa Central 4s. Eric genera
81 - Raul general AS and Denver &
rio Crande IS. Seahoard Air Line con
solidstod ss and adjustment Is. some
Investment lirese Ike PennsNiNanla
consolidated als and Central Of Geor-
rla consolidated SIS also reacted
shsrnlv. while gains ~ one 10 "a
points were made nv Seahoard r"fund-
ing 80 and Atchison adjustment 49,
stamped
Marked irregularitv prevailed IN the
foreign Rroun. Mexican government
go and Paris Lyons Mediterranean Us
we've each down two points with losses
~ ono 10 "a heinC shown by bordeaux
Il. nIssons 6s Seine IS and Iapanese
hrs' t.s CIV ~ sac Poalo SIS climbed
y points and gains of point or moro
we've recorded NV Mexican government
- and Navana Electric IS.
IN tho industrial list tho outstanding
features were American Telephone
convertible Gs American Sugar Sc and
peterborough Rapid Transit 5s. all or
hYch advanced a point or more.
lihertv issues were irregular with
majority showing small losses.
Total sales par value were Sl2''9l'-