Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1922-04-13
Stock Markets.
NEW YORK MARKET
Features Of the Days Dealings in All
the Leading Stocks

New York. April 12.-Buoyancy best
describes the tone of the stock mar
ket during today's early and interme-
date stages. the later dealings being
characterized by considerable irregu-
larty. Sales Of about i.656,000 shares
constituted a record fort he current
movement. and the number of sepa-
rate issues traded in probably report
ed a precedent
Lower money rates. cumulative in
dicatiOns Of industrial and commercial
betterment and higher quotations for
such basic commodities as the oils. pig
iron and finished iron and steel were
among the DEVELOPMENTS which cont:n-
ued to stimulate buliish sentiment and
diminish the short interest
The one discorhant or pessimistic
note was sounded by the coal strike
authorities referring to that situation
as likely TO become a factor in many
lines of manufacture in the near flu
turc.
Coal shares were duh and rails as
"hole contributed only nominally to
the days business. Mexican oils were
sold on rumors of a disagreement be-
tween that government and American
interests regarding export taxes and
steady profit taking detracted from the
strength of leading motors.
Cams or one to almost five points
during the forenoon were made large
ly under the auspices of equipments.
domestic oils. junior steels, feathers,
papers. Specialties and shippings. to-
baccos and chain stores issues. Wool
worth rising on the declaration of the
extra dividend
The only sharp reversal of the Sos
sion came In the final hour when Mex
lean Petroleum fell almost five points
from its early best and caused other
leaders to react one TO three points.
The one striking exception was Amer
lean Locomotive. which forged steadily
ahead, closing al a gain of four points.
Call loans opened at Al per cent.
but the light demand at that rate
caused reduction to per cent. in the
placed at A per cent. for 50 and Go
days. but longer rates held around AZ
per cent.
Reversing yesterdays trend. the
German rate was the only exception
to the higher level registered by a
| majority of today's foreign exchange
quotations. Sterling demand bills
We're strong at 4.41s. Allied remit
tances gained four TO eight points and
| greater strength was shown by czecho-
Slovakian bills. The Greek rate was
| unchanged. but dealings i'll that remit
lance We're nominal on. tho unsettled
| conditions reported from Athens.
Liberty issues were the dominant
| features of today,s very extensive
trading in the bond market. practically
| all of that Serese. notably the SIS.
rising to par or better on transactions
which involved single blocks of ST.
OUh.0Q0.
Final prices for this entire group
| showed gains and in several instances
| closing quotations were at the day s
| highest quotations.
Total sales of all classes Of bonds
We're s32,53S. 900 par value and of this
amount, the largest of any day so far
| this year. almost 80 per cent was con-
| tributed by Liberty and Victory issu !.
| Strength of foreign exchanges. espe-
| cially the British rate. exerted ia
yorable influence upon United King
| doms and Dominion of Canada issues.
! The Paris-Lyons- Meditcrranean Rail
| way 6s recently floated here. also
! CZecho- Slovakian SIS and Cuban. South
| American. Mexican and japanese
| bonds were among the many interna-
| tionals to show marked strength.
Almost every class of domestic rails.
| especially convertible. refunding and
debenture issues. Joined in the general
! strength OF the bond list. many gain
| ing one to two points and. even more.
The Province of Ontario 5 per cent.
$15.000,0 600 bonds offered by an Amer
| lean banking syndicate found immedi-
| ate sale.