Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1922-12-14
NEW YORK MARKET
Features Of tho Days Dealings in All
the Leading Stocks

New York. Dec. 13.--Stock prices
continued their rise to higher ground
IN todays market, stimulus for the eX-
banded bu?ing being given by con-
tlnuance of low money rates, addition
al stock and extra dividends and anoth-
er sharp rise in sterling exchange, most
Of which. however, was cancelled later:
Shares subject. to pool operations and
possessing extra dividend possibilities
again received the most attention.
One of the surprises of the session
was the decision of the directors of the
New York Central Railroad not to in
crease the regular So dividend rate.
Speculative interests had anticipated
an increase to Sc or 81 basis and
their disappointment was reflected in
sharp drop in that stock. which
touched 93s as against Tuesdays high
OF sos, today's closing quotation OF 93s
representing net loss Of (.
Other rails declined in sympathy
tut recovered in response to the
fresh buying in that group during the
afternoon. Closing prices were gener-
Rly higher with most of the gains Inn
Central advanced seven points on a
small turnover and Northern Pacific
rose q.
Some excellent gains were made by
number of the speculative favorites,
notably by Baldwin, which touched
. 4,
Ihree points. A squeezing of the short
interest od IN Continental Can also result
CD IN three-point gain in that stock.
FISHER Body. which has established
rev rev nigh records almost daily for the
tt week. crossed the zoo mark but
uaE. General Baking Co. rase seven
i,, on declaration of a 200 per cent.
stock dividend Additional short COW
ing ing IN Plggly Wiggly also sent that
s'S S up to new years high at $50.
a some OF the other strong spots were
a,aerican Car. Cluett Peabody, Cuban
c cmeerlSan Sugar preferred, Elkhorn
49, Mexican Petroleum., Pan-Ameri-
"a and b. Pressed Steel Car, United
ttM.ali stores and WHY'S Overland pre-
.e iIea, the gains ranging from two to
seven points.
General Asphalt broke nearly four
55ollts on the announcement by Presi-
WY WY sewail that a new agreement had
IN, IN made with the Royal Dutch Shell
Mp whereby instead Of a one-fourth
Vo.asst IN future surplus profits of the
n.y;mmeluelan Oil enterprise, the company
vi VII! realize at once through receipt
dlct;dd ROYALTY of of the crude oil pro-
s srv therefrom commencing .Janu-
ICY III, !, 1923. Royal Dutch suffered a
lcat;oosns OF nearly two points on pub
that ti N or cable dispatches stating
dncod, ne t interim dividend had been re-
, rruHu from 8 to 10 per cent. on shares
, nouea in abroad. Woolworth broke
direc, man five points in response to the
pprrooeerIiation of $40, 100000 from the
ih, he and ana loss account to be applied to
carri REDUCTION of good will" which is
'"nttind at $4,000. 900.
eascd ~ money opened at 4 per cent,
apaiu on 70 81 and then advanced to 1
continnnnedi o re the close. Time money
t bbas .d maturities and AZ per cent. for
cal 'nn,aaE period. Little new CONNER
althoppanper is coming into the market
with nSi. mere is fairly good demand
Per cent, ''"'''es sun commanding Al
na ALTERATIONS atoms in sterling again domi.
ncmapd" me foreign exchange market.
morm;nu hllls rose to $4.6SY during the
a:e ". aT, out fell back to S465s in the
ports ascron. Latest unofficial re-
Tor III" "s sd recent, buying as being
mem account of the British govern
500 cd Dutch guilders touched parity,
cents each, for the first time