Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1922-09-16

NM
NEW YORK MARKET
Featurss Of the Days Dealings in All
the LEADING Stocks

New York. Sept. 15.-Price move
ments in todays stock market were
again irregular and influenced by pro-
fessional activities. but the main
noticeable slackening Of bear pressure
and less vigorous speculative buying
with the result that changes were
largely within narrower limits. The
undertone continued strong.
Public utility issues made the most
spirited advance, gains OF one to three
points in that group bringing many
stocks to new high records for the
year. Consolidated Gas was actively
traded in. closing at net gain Of 1s
points, and there was substantial i'm
provement also in Peoples Gas. Lac
lede Gas and North American. Column
bia and Pacific Gas. after an early dis
play of strength, shaded bit on real
The railroad list was featured by
the advance of New York Central to
par and new highs for the year by
Pennsylvania and New Orleans, Texas
rushed up over three points. but other
changes were largely fractional with
gains and losses about evenly divided.
Several new favorites were brought
to the fore. notably Spicer, Texas Gulf,
Sulphur. Freeport Texas and Vivaudou.
most of which registered moderate
gains. Wilson Company packing stock
advanced more than u points on re-
tlVal Ol merger TufHOTS. fOOl opera"
lions were in evidence in some of these
special stocks.
steels and equipments were quite &C
tive. but with the exception of de-
cline of II in Baldwin. due largely to
weekend profit taking, the changes in
these groups were only nominal. Mer-
chandising shares such as Woolworth,
Kresge and Macy Department Stores.
were taken in hand and pushed to
higher ground. There, was fair &C
n n
a point or more being recorded by
Utah and Butte & Superior, with frac-
tional gains elsewhere in the list.
Total sales Appropriated 100000
shares
Foreign exchange rates were again
irregular but with a narrower range
of variation. There was renewal of
offerings of grain and cotton bills, but
in the market was the supply of 'stefl
ing and guilders against shipments of
flour. the offerings coming direct from
western points. Demand sterling was
nevertheless fractionally higher and
Dutch exchange held steady.
Call money held steady at II per
cent. Time money rates continued firm
with only q moderate amount of bust
ness being transacted but there was a
fair market for commercial paper.
Pronounced weakness in some Of the
Mexican government and French mu-
trend to tcday's dealings in bonds on
the New York Stock Exchange.
Mexican As and City of Marseilles
6s were forced down II, while losses
of l to u took place in Mexican IS
and large SIS, Lyons Is. Bordeaux 6s.
and Paris Lyons Mcditerrancan is.
Belgian and Czecho-Slovakian issues
also were inclined to weakness. but Ca
madam bonds were in good demand. the
IS of 1852 holding steady around par.
Mixed changes prevailed in the rail
road list. New Orleans. Texas & Mex
leo IS were pushed up two points.
Frisco adjustment 6S reached now
high level and gains OF point or
more were made by Chicago Il Alton
3as and Minncapolis-S Louis refund
however. Slipped back IL and recess
sions Of point or more were regis
tered by Pennsylvania general IS and
St Paul As of 1925.
Investment issues wore in good de-
mand throughout the DAY and large
over-the counter trade was reported
Chicago dispatches advising rumors of
packing house mergers were held re-
sponsible for the strength Of Wilson
Company convertible SIS and 1as, which
were up q apd IL points respectively
General Electric SIS and Bush Terminal
building IS We're the other outstanding
strong spots in the industrial list. I.o-
cal fractions were a bit reactionary
on profit taking.
Liberty issues were irregular price
changes moving within narrow limits.
Total sales, par value, were s14,-
$4,000.
An issue Of A per cent. equipment
trust certificates Of the Illinois Cen
trail Railroad was disposed Of at phi
waite sale on 4.90 TO 49, per cent
basis. This was said 10 be the first is
sue OF a per cent. equipment trusts
since the war.
The weeks rev offerings probably
will reach $500 900. 900.