Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1922-12-08

NEW YORK MARKET
!. AZURE. Of the Days Dealings in Al
'' tho Leading Stocks

,.r York, Dec. 7.-Stock prices en-
another vigorous advance in the
PHI! .Iy mart of today's session blu the
eaan.;d;ty Of the rise induced consider
IIsta nrofit taking and short selling in
ster dealings with the result tnat
losing prices were irregular out MAIN
! II higher. -
.;ve basis than earlier in the week.
sna;,p was almost entirely in the
f Ean1s If professionals. Outside news
a1asnnslopuents had little effect on the
aenrse of prices. but sentiment no
|Soubt was favorablS 1nnuenced Sy the
sppera,Iv regarded as hullish factor:
gene gen Further strength Of sterling ex-
ha,ge increased pig iron production.
si%ber car loadings and the better tone
u he latest earnings statements or In
|hstrial companies.
a' s,gh priced dividend paying shares
..1vded the most spectacular gains.
pi Tr, Denartment Stores being pushed
~, W; more than 10 points to 174a. a new
si,h record for the year. and Mackay
i,tsmnanies establishing a new peak
.uica At 1874. then falling back at the
sinse 10 1921. where it represented a
W, gain of 81 on the day. Gains of
Il. 70 six points also were made by
|T.resre. Woolworth, Tidewater Oil and
|Sisgiy Wiggly. =,
'pTssilroad shares again Jagged behind
ma rest Of the list. Great Northern
rsserrad having another sinking spell,
|!ronnng to IS but rallying at the close
W "a, for a net loss of 10 on the day.
Vorthern Pacific dropped to 75A but
|ssg and ! above last nights final fig
wa other changes in the rail group
|,orn unmportant.
oils we're conspicuously strong In
30 carly part of the session. Standard
III If New Jersey crossing COZ. Pan.
AMERICAN touching 1903. the 81 s5a
|.,d Mexican Petroleum PAL. but these
Gains were rather mateflalIy renuceo
er wpod out by the closing realizing
vew Jersey closed at 9Sa. up I; Pan
,1'cr,can A at 9S4. off II: the b at 80,
LIZ A. and Mexican Petroleum at 1854.
|rn j. Producers & Refners and Cosden
|cTelcd better resistance, the former
|cos;ng at n net gain OF "a ana the lat
hen at net gain of IL.
tobacco Products A improved Ii on
,oports of higher earnings, other to-
jarcos rising in sympathy. u. S. In
austria, Alcohol reached 65a on reports
|"f a diminished floating supply OF the
r,0duct, but fell back later to 63a. or
Ian on the day. Announcement of
|ligher tube prices by the 3. F. Good
point gain in the common and ~ in the
studebaker was again active. touch
ing 1924, or IS points above its recon
jow. but dropping to 1904. off on the
DAY. at the close. Hudson Motors es.
nblished new peak price at .4E and
|Hupp duplicated its previous high OF
IS Baldwin, L. s. Steel and Corn Pro-
ducts were quite active, but only frac-
tionally higher on the day.
cal money held at 5 per cent.
throughout the day. The time money
bad commercial paper markets were
uurt with no change in rates.
Nor yow high records for the year
were made in the foreign exchange
market by sterling at $4.57s; Dutcl,
sni.ders at 1897 cents, and Indian ru-
pces at &o.&5 cents. but all reacted
slightly at the close. French checks
got above seven cents again and the
Canadian dollar, after holding around
par for a week. went to discount OF
Ct Of cent.