Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1922-11-22

NEW YORK MARKET
Features Of the Days Dealings in All
- the Leading Stocks

New York, Nov. 2I.-Dullness again
characterized the trading in today's
STOCK market. prices moving in q con-
FUSED manner and operations being al
most entirely of a professional char
Opening prices were generally firm,
out acute. Weakness Of General As
bnait common and preferred and U. s.
hhunher caused the list to turn heavy
the eras me end OF the frst hour and
generally within narrow limits, short
seIllng against some Of the standard
issues giving the market the appear
ahGe OF weakness at the close.
renewed activity was noted in the
sugar shares. apparently in speculative
anticipation Of favorable earnings
statements in the forthcoming financial
reports. American Sugar crossed II.
a net gain of IL points. Cuba Cane
ana Punta Allegro Sugars improved
nearly 4 point and Cuban American Su-
gar advanced fractionally. Directors
OF me CUBAN American Sugar Co. are
expected to reach some decision to-
morrow regarding the company's $19,-
OO0,O0O surplus.
Standard railroad shares generally
showed slight recessions on Compare
tively small turnovers, neglect Of these
issues being attributed to the uncer-
tainty concerning the railroad legisla-
i've program of the present Congress.
The first Of the October railroad re-
ports to make their appearance was
the Kansas City Southern. published
today. which showed an increase in
botf gross and net revenues as COM
pared with September. but a decrease
as compared with the same month last
year. However. this was not general
~ regar ded as representative case
ana was not as closely scanned by the
financial community as will be the re-
ports Of the larger trunk lines. Pres
ident WIZARDS declaration to stock
holders that the shipments strike cost
the Baltimore & Ohio Railroad be-
tween $10000000 and Sill coo, 900 had a
hearish effect on sentiment as regards
the railroad shares.
independent steels. motors motor &C
cesscries, chemicals and textiles all
showed up we'll at the start. but final
prices presented varied assortment
of changes.
Early buying Of Midvale, which
slble absorption by Bethlehem. but it
sold eff later to 29s and then rallied
TO 3os for 2 small fractional loss. L.
>. Steel also cased off nearly a half,
While Bethlehem b. Republic and Nana-
dunn yielded at least point each.
Ba 'dwin,. Studebaker and Corn Pro-
ducts enjoyed brief periods of strength
but crumbled under the short attacks
in final dealings, Baldwin and Corn
Products dropping IL and II respec-
good sized fraction. Reynolds Tobac-
co + moved up 81 points in response
to the 30 1-3 per cent. stock dividend.
and g. similar gain was registered by
American Can in brief buying DEM
cnstration in the last half hour. Con-
solidatcd Gas shook up some of its re-
cent hcaviness, advancing more than
two FONTS.
Publication of President Harding's
ship subsidy message breathed a little
life into Marine issues, which advanced
slightly and then fell back. Marine COM
mon and preferred and American In
ternational closing at slight fractional
losses, while United Fruit sold off moro
than point.
Gail money opened and renewed at
~ per cent. advanced to ) and thench
to 81. where it closed. Business in
time money continues on per cent.
was moderately active. the ruling rate
for prime names being Al per cent.
Foreign exchanges opened firm in re-
lection of the higher London quota
tons, but later developed marked
touched $4.49i yesterday. eased off to
S4.4Sa today, while French fracs slip
ped from IA to 40.
Irro Eularity marked today's relative
~ quiet dealings in bonds. gains slight
Is ouinumbcring the losses in active
issues at the close.
In the foreign division Rio de ia
Metro SS of 1916, Denmark 6s. Zurich
S. Seine Is and Paris-Lyons Mediter
'anean 6s all moved up one to ! points,
some Of the buying being for British
account. while Mexican IS. SCISSORS
ts Marscilles 6s and Czecho-Slovakian |
SIS all lost about a point
Sugar and copper company liens were
in good demand in the Industrial list
apparently in response to the better
stock prices. Gains of point or more
we're scored by Cuba Cane SIS. Punta
Allegro Is. Eastern Cuba Sugar 7as
Chile Copper Is. Ccrro dc Pasco IS
I.acKawanna Steel IS of 1850. Produc-
ers' s: Rcfiners IS and Liggett &: My
ars 5s. Some heaviness was noted. !
however, in Armour As. New York !
steam 6s. United Drug IS and Bush
Terminal Co. SIS.
Railroad mortgages which moved to |
higher ground included st. Paul con-
vcrtitle AIS, st. Louis. Iron Mountain |
K River Il Gulf As. Erie convertible /
is. series d. and New Orleans, Texas I
( Mexico SIS. Chicago & Alton SIS broke |
,eariv two points and losses of one to |
u took place in Wabash firsts, Sea- |
,oard consolidated 6S. Minneapolis-St. |
louis refunding As, st. Paul general
is of 1925, and Erie prior liens As.
u. s. government issues held steady, |
he largest gain taking place in Lib |
rty SIS. which advanced los on Slo0.
Total sales. par value, were $40, 100000. |