Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1922-12-12
FINANCIAL NEWS
NEW YORK MARKET
Features Of the Days Dealings in All
the Leading Stocks


New York. Dec. 1.-THE irregular
trend OF prices in today's relatively
dull and uninteresting stock market in
! dicated that more attention was being
paid by professional interests to spe-
cial conditions affecting particular
shares than to the general business
and industrial situation as a whole
Most of the popular shares showed
losses at the close.
/ Opening prices were generally firm
bu. the, small, volume of buying power
tempted the short interests to try some
experimental short selling. Studehaker
California Petroleum. Baldwin and a
lew other speculative favorites yield
ing materially to pressure. While lit
tie attention was paid TO outside de-
Velopments, the further strength of
sterling exchange, additional extra div
ldend disbursements and a lower rate
lor call money were believed to have
had a sentimental effect in Drinking
about the rally which occurred around
midday. From then on il was back
ing and Milling movement with a few
Individual shares showing marked
National Lead provided one of the
features of the session, being pushed
up hve points to 1924, rev high rec
Org. soon after the opening, then drop
ping to 124a and rallying at the close
to 1923, where it represented a net gain
OF J. Allied Chemical led a rather
SPIRITED advance of chemical shares,
closing at 80, net gain of A, the sud-
den strength of these issues being at
tributed to a cessation Of the extensive
ta%-Sclling in this group ana reports of
substantial Improvement in the fertil-
Virginia Carolina Chemical common
points.
Hudson Motors broke through to eGs
new top Tor the year, on announce
ment of an extra dividend of % cents
snare, and other lower priced mo-
tors hardened in sympathy but forfeit
ca their gains in the later profit taking.
Studebaker dropped II in response 70
professional selling.
decrease in the unified orders of
the L. ). Steel Corporation was used
as an excuse for short attack on Ger
~ nt sharcs IN that group but it failed
% make much Roadway. u. S. Steel
common yielded small fraction on the
day and Republic Il, but special brying
went on IN Crucible. which advanced a
ing unimportant.
one oli IS were .1 generally heavy; losses of
houston; the Pan-Amorican issues,
1fornia, Mexican Petroleum, California
retfoleum and Royal Dutch. Rails
were sluggish and generally lower. bur
u. .nc losses Tor the most part were frac-
Account l t" Of fa1 tIs thiauid2t9n for the
Rockefeller is the latest reason as.
GGriDed Tor the recent weakness of St.
Paul issues. ~
9Th The high premium for the loaning of
lsteHce OF sl2eable short interest
covering operations today resulting in
q q gam OF approximately two points
nooeh OF the Pacific Development Cor
pofatlon. which operated chilly in The
oTIcnt' today broke below 81 a share.
Cail money opened al a per cent and
nardened TO Al before the close. Time
ffn nr ra 5o continued It Al per cent.
cent. for the longer periods H.
. new commercial paper is coming into
me market, prime names commandine
per cent. ms
Adjournment of the Allied premiors,
cphl erence in London failed to hait
t lhie ADVANCE in sterling. which touchnd
$4;o9 another high record for tho ynar
tn b Inc other Allied rates also moved
rate, which touched a now high Safnri
oaN, dropped Is points to 1890
!, 40 definite trend was apparent in TO-
ray relatlyely dull dealings in bonds
divided at the close Ni'
On IN me foregn group Mexican As
Salneu point and some Improvement
M 1aaa noted in United Kingdom Us of
nisher exchange rates, while I,vons fs
Irague Is and Serbian SIS lost q noirt
S h. 4 good volume of the rncnnt
nign ,n % ~ Inns group has been for for
changes. the refunding Us recovn a,Ioe q
81 ~ put one point of their f1vc-nnin7
d iTSS on saturday. and the As Of 1925
and p the co 90 POINTS the general 3as u
ihg Ior taxation purposes has hean
n!dnieo Tor the recent reaction in tbis
f Gauc reports ports were circulated in the
for tbn u,slrlct Today that liquidation
estate was a factor. eieiler
a.. IrfegularIty also marked thc root of
eli lim Fdr,roa &c list. Frisco adjustment Is
dropping Il p1 osses ar and ~ The income 6s
i Io',;e taxing place. in Minncap oIis.St
LOUIS LOUIS refunding as, New HAVEN Sc &C.
coma coma central &c trails IS, Peoria & Eastern in.
York Central AS. 20 anu Ne"
curi+ Siesen-polnt gain on Distillers' Sc
turltlcs IS was the outstandinr foe-
sure IN the Industrial group. other
, e Rnfip epots ~ IN which We're Producers
y; ntIlnerS. Cuba Cane Is and Is ana
VI, oirginia Carolina Chemical 71s Pnl
pu1iic steer 5s were weak.
| mai,,1 - government securities woro
on sISo h 1oa n,.d Losses of four cents
the inc Third AS, but the other active civ ana ma
II no iintaWed gains ranging from two to
s5a 1851 sales par value, were s11-
ss6N eSo offerings totallins moro than
di eates' tods were put out BY local syn.
sl5sss; 700 issue OF Closed Ie nar{ ss the hs
c cnnt coilaterai trust sinking fund ! per
i Tire e9115 ,,e bonds of the DunIop
of 5ss g E ~ Corporation Of America
Other large issues We're the ss sF5 ee M
2a per cent. offering of the Adiron GiooT
of oeS Sc fo, Light CORPORATION, $1,000 ooo
cent road Upb bo G0dpnt snd is o" IS
cent bonds Of the Wichita Land Land R : Per
MA n t. paol'c offering of $4,000, 900 cum.
t a1a' yeras per cent preferred stock 1' of
t III Zones n,,t q Loughlin steel Corpora
lioH' put out today at 1914 n yiaId e.