Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1922-06-06
Stock Markets
NEW YORK MARKET
features Of the Days Dealings in All
tho Leading Stocks

iasl New York. June 5.-Onerings OK
on Urarhct leaders frequently exceeded the
ina Usuying power of the stock exchange
II toiay' these conflicting movements
Ha nus.ug considerable uncertainty or
lie. ursetticment throughout the active
S4pssyon.
,h- cross currents we're most proIiounG
,ss I'd among the popular oils. steels. rails
~ Ind numerous miscellaneous stocks.
hStary declines of one to four points
gle h such issues were balanced by gains
chs Of ike extent but the FORCES OF re-
~, l,ct.on were in control at the markets
Rose sales amounted to 100000
w saarcs.
me, Incidents over the week end. not
the Ably the publicity given TO the promo
slyI lion phases of the Republ ic-Midvale-
~ Inland steel merger and the extraVa-
can't speculation of pools in compare
H1tyely obscure specialties, provided
nrI sresh short selling and liquidation for
The long account
Uyous in the last half Of the trading
.Utsriod on news that the federal trade
M commi sion had taken steps to pre-
the vent the merger OF the Bethlehem and
Steel Companies. Rumors
then current in the financial district
nus declared that action aiming at the an
~ allegation OF other projects or similar
ira character would be taken py the leu
.h.,Isal authorities.
my II. $ steel was the one promising
the Feature among leaders. rising to a new
I high for two years at lV3 Ia IN the
,,syfnal hour. hut the so-called indepen-
dents closed at net losses OF one to
ms 1.-Two points. oils rallying moderately on
Dmeuthe strength shown by STANDARD OH OF
at New Jersey. Lake Erie d western
.Jcpmmon again featured the apathetic
''''UtaIls nj four-point gain. and DUPONT
Twas foremost among specialties. add :.
trading 81 points to last weeks gain or
Corstructtve features OF the day
lhay embraced another buoyant rise in
ou,tsrl!ng exchange. easier money rates,
theEfurthcr advances in prices OF crude
,,ssJol products and optimistic trade re-
Irorts from interior centers.
me5' Gail money opened at 3-4 per cent:
sideI re- fecting last weeks expansion OF
oIaJ G caring house loans. but the rate grad
:, ,Iually oased 10 % per cent Conditions
u iVadccting time money were unaltered.
'onyu most accommodations again being linn
c,ry tied 10 30 and so DAYS at Ia per cent.
- The high rate Of the day for London
'riea demand exchange was $50 IA. but
IigM'hnt quotation was shaded later as
wlthlu ing diminished All the Allied quo
,vSIt tons were firm and Dutch and Scam
lduaVan bills recovered part or last
cVnJ wocks reversal but German marks
sD<vero almost two points under their
Th& cnt maximum.
Foreign or international loans were
"hythn conspicuous features of today
d bsftond market the domestic list dis
,u&p ayiug much OF its recent Irregular
.,o,lit, apart from liberties. which were
sivYre'atiVelv steady.
u Tho now high record made by sterl-
vhyirg exchange was accompanied by
Ifircngth IN United Kingdom issues
Hand moderate improvement among
'hcl4 Fronch. Belgian and Brazilian loans.
uhlt Mexican As and rs were reaction
Ian AZ losses Of one To two points.
J" Changes in the railway list were re-
h "a srictod mostly To fractional gains
musd ana losses but some OF the indnstrials'
,t.. yrutnhlv Bethlehem steel rcfunding 5s.
Showed marked heavincss. although
= leu orse' bv tho strength Of the company's
thrurur,hasc money 5s. Total sales. par
mi neErIs ra.'i,, 20 coycyDp,ent loan
icvfor s25 0UN. 00h and the City of Prague
pprdUsi 500 00n mortagc loan constituted
.aliHe important new underwritings.
Inoih wore largely ovcr-subscribed on
waIhrgc participations from investment
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