Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1922-08-31
NEW. YORK MARKET
Features Of the Days Dealings in All
the Leading Stocks

the Leading StockS
New York. Aug. 30.-Active and
Widespread public participation. ap-
ment in the industrial and railroad
strike situation, was largely rcspon-
Sible for the continued rise of prices
IN today's stock market.
Floor traders and professional spec
uIators were inclined to be bearish,
but in the food of outside buying or
ders scared many shorts into cover
ing, which accelerated the advance
Nearly two score issues established
new peak prices for the year.
Reports of increased car loadings,
indications that bituminous coal pro-
duction was nearing normal and "X-
pectat!on of unprecedented freight
inquiry for the standard rails. Can
adam Pacific was especially strong.
, advancing q points with gains of a
point or more being recorded by At
lantic Coastlino. Chicago and North
western Illinois Central. Louisville
and Nashville, New Haven. Reading,
second preferred and Frisco preferred.
Renewed hopes for an early settle
mcnt OF the anthracite strike also i'm
parted buoyancy to the shares of hard
coal carriers. especially LaCkawanna
and Iehieh Valley.
Chicago and Alton issues wore under
heavy pressure because of disQuieting
reports concerning impending rcorgan-
points and the preferred dropped 81.
Independent stcels also suffered a Sc
we're setback upon circulation Of re-
ports that the federal trade commits
SION was about TO render an unfavor-
able decision on the two pending in
dependent mergers but later Washing
ton adViCcS indicated that no COM
paints had bon filed against the pro-
posed MdNalc- Inland Republic COM
bination. Republic steel closed with
ar n W n a
was off point and Midvale Z. United
states steel closed tractionally higher
on n fairly extensive turnover. Sales
managers of the steel corporation are
now in session hero and Wall street
expects an announcement of higher
prices upon the return to this country
next week of Ebert Gary, chairman Of
tho board
active participants in the upward
! swing Of prices Several high records
fo rtho year We're mad" in this group.
notably Icy Detroit Edison. Brooklyn
Union Gas Columbia Gas, American
Telephone, Pacific Gas, Montana Power
and Mackay Company.
Endicott- johnson advanced nearly
two points TO-DAY in expectation of
extra dividend disbursements when the
directors meet on Thursday. Postum
Cereal established = new high price
for tho year on reports of increased
earnings. United states cast iron pipe
broke over two points on the an
nouiic"in.h NJ on an "lli,ldi ol ne con-
5"H ~, w !'"'' ~ ~ ~ -
conditions. Total sales approximated
9A1 600 shares.
'a'I money cPchcn ana roncWeo !
- p"r ''h'; nut h"inen'" I" lo'tI an, !
70 rfrst OF tho month requirements.
! "out side" call money was quoted as
high as per cont. Time money rates
cont llW'" uH'H'HS'" VIII H''4' ""@'-
moss hcing transacted.
fofelsh 'ErhanSe faIeS opened weak
as the result OF llnEftl I"mcnt IN Tor
"icn rontcrs hut they stradl"d IN iatcr
trading. Thrr" WaS Shafp hrcak ~
: 't"fhah hEfhS IN '"lI. thulIIS' ~"
{ they, recovered later Win INC rest or
| IN" hst. DcIn2nu s'rrllns s"!n h' rato
/ two cents hhloW yesterday I"'''
! while other allied rates showed frac-
! tional improvement; Fanadlan ex-
/ chang" touched par To-Day lof the hrSt
! time Sinc" August l"I": \,
! tn" Sharn Ak IN hicaSo IN" ~
| tom bonds. INC dfciifllns - l"'liI :
and the So IS f'atuffd tod2N II
! regular BOND market
Tho precirlt"uS drop IN lhcSe w"
! issues vas even ,eroa'er man lie na-
I Cline in tho stock prices ana was oC-
/ tho road was I" DC feorEa MA loll !;
! Most bonds al n" Mon ar" I'p", -, y
/ to be hold by the Union Pacific and =, 2
I larry" New York haaking mouse, ON
, ference here TODAY.
Local traction sues, W'o'on aaNano-
I'd two points or more on ammo uh''-
men, that SHiiicl1ht Malt,na ' ,i $500
. had beer uon"Sll'd 10 insure va ,hi !
iug out Of IN" new aSfcrm"rl TOT w
Manhattan lease. thus virtually ohNla,-
I inc any poSSlhl' Ihahcr - iIt. a. n'l
ship Tor IN" ln'orhorouEh l.apln lran ~