Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1923-06-13
NV YORK. MARKET
:, The Days Dealings in All
|etuf~ =. Leading Stocks

49,, June 12-Taking ad
Mr i ~ the lack of public interes
arsase s :, absence of any buy
d the a spf professional spectators
& upps"cline launched a series O
..eessful attacks on most ,, OF the h,, iis
sssys stock market me seiiins
1904. was most effective agains'
FseuIIs .,rial stocks, many Of which
ino,', 20 points. but rails. which
sS,d firm carly in the day. yield
I at the rest in the heavy seliine
te s 10, attacks were conducted ir
ne oe q several favorable develop
i.i Z. ';v,e Fl the placin@ Of Amer
l sn a;s after a non dividend pay
~ pa. wa Of more than two years
ps smelling crossed c. on the
ias' llSsssment but fell back later to
n where it was OF fractionaIlS
tM , ur records for the year were
y" :, NV more than a score of stocks
s &C. y General Asphalt Common
scaaa Jared. Standard Oil of New
es p''i Invincible, Caddo. Shelley,
~ sinclair and White Oils.
R .s.s and Refincrs. Panhandle
ea.;ns and Refining. Simms Pc
na.' Kelley Springfield. L. S.
t,an' Ice Goodrich Rubber, Pierce
ND American Ship and Com
M .,.rsss Of rubbers was a direct
a ...s 10 10 per cent. tire cut
sl y. r;restone company which was
.d in some quarters as a FORE
'r y, price cutting war;" Oils
% .rnsi to lose ground as a result
t . heavy overproduction with its
. NJ Of further price cuts. Direc-
~ me Pan American company,
..;,, today. were Informed, how
- that earnings for the current
,rtar would equal thee OF the
..sdipg quarter and that net earn
,tis year would approximate the
\. rpturn Of last year.
NV York Central was pushed up
NJ IL in speculative expectation
.,ss ,tock being placed on 81 divi-
~ basis tomorrow but it dropped
!. IN mar for a net loss of nearly a
!, ltchison, Canadian Pacif~. ST.
III nreferred, Rock Island. Balti-
!. and Ohio and Union Pacific also
!. offered freely in the last hour,
~, / to . points on the day.
Toolyorth established 4 new high
"a and then broke T. points for a
hiss Of 4 ID on the day. Tide
|sr Oil was off 10 on the day.
ali money opened at 5 per cent.
u sssed off to II where it closed.
N time money and commercial pa
markets were dull with no change
rates.
| FWeisn exchange rates were in
lined to ease on quiet trading. De-
land sterling held fairly steady
round 4.Gl IA but French francs
sks five points to GAO cents. Ger
ar marks touched a new low at
|Nll ii cents.
Bond prices generally We're easier in
\. trading today but losses were
| nall. Many investment houses. I'M
tN to supply customers orders for
b new Austrian government bonds.
rct shopping at the New York
tshange where the bonds sold frac-
tnally higher than the issue price
k@ Trading in these bonds was
ttre throughout the day. the top
hire being 81 IA, the same as yes
ttAay's highest quotations.
With the exception of the Austrian
and ihe Serbian SIS. which gained
a. foreign government issues
f4ded in today's dealings. United
Mites Government bonds with the
|dnption of Treasury 4 las also
|sI slightly. The Treasurys moved
|pl.3s Of a point.
hlroad mortgages. while still ac-
sa were offered more freely. Sea-
Td Air Line Gs dropped 1 IA and
ETolk and Western convertible IS
ma point. Union Pacific refunding
|sMvanced ! noint Industrial lines
|raa we're dull and price changes
|aMportant.
Total sales (par valuc) were s1o,-
EaMN.