Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1923-09-01
DAILY KENNEnEc JOURNAL SATURDAY SEPTEMBER |. 1929.
FINANCIAL NEWS
Features OF the Days Dealings in All
the Leading Stocks

New York, Aug. 31.-Constructive
factors were at work in today's stock
market with the result that prices
stiffened considerably after an early
period Of heavinesS. Trading, how
ever was OF the usual quiet, pre-holi-
day character.
preparations on the part Of Italy
against Greece and predictions that
Governor PinchOt's proposals would
not be accepted by both parties to the
miners wage dispute, brought a fair
ly large volume of selling orders into
the market at the opening, the recess
sions running as high as A. points.
These offerings We're well absorbed,
however, and within half an hour the
market was pointed upward again.
The rally did not assume very ex-
tensive proportions. however, until
AFTER the official announcement of the
resumption Of diplomatic relations
between Mexico and the United States
which was followed by moderate buy
Ing demonstrations in the stocks of
companies interested in Mexican pro-
perties and IN The bonds of the Next
can government itself This announ-
cement which was followed by a re-
port that the miners had accepted the
Ptnchot plan as a basis for further
negotiations AID that the operators,
while oh!ecting to the 10 per cent.
wage Increase. would accept it on
condition chat an agreement putting
it into effect over long term OF years
be erected, impaired firm tone to
the rest OF the list.
i'ih busheSs review states lnat
Signs point more clearly 10 gfauual
breaking away from the summer lull
in some branches of business" add
ing that while conservatism contin-
ues to govern most operations, with
some hesitation induced by prevailing
uncertainties, more interest in for
requirements is noted and Sentembr
is expected to bring about y furtbor
quickening of demand" Pradstroo,,s
stes forth that "thera are moro oros.
currents visible in trade n,a,, 20
industry, and business onoro.;n.
generally have reflected tba dna;' .ioils >
make the most of the In Of Wool. nf ~
vacation season. but tho moro oh ~ ..iI
tone recently noted continues ,,nahat
ed" i"o".-
L. s. Steel Baldwin St,do,a,.
American Can and most ~ tho otha,,
pivotal stocks showed small 20 o 4;mei
al gains on the day n1yicop f,Lo.,:
cal. whose spectacuIor a;,n+ ,,a't,l,i-
featuren Yesterdays mo,l,ot $3.50 ul'
between 81 ana &c closino ~ soIi 80
a net loss of2a. An ofticioi 8, ,.a,i
cation of Yesterdays fuct,,atinns y.
ordered by this businoss conduot ~.
mittee of the eychan~e this az, I'm IN
A jump OF five noints ~ VIII Viii
Overland preferred was attri,,rtsd ~ - =
the perfection of arranean,ants ~
care for a large block Of stool, fba
has been overhancinp Tho noarl,at ga
rlmors of an carly resumntinn ~ AZ
'dends Mercbandisinr issuas no ~
cularly Cluct Peabody wnro s tl
on reports Of ,mnrovad trada nnndi7
tions. Buyinc by shorts was bo1d ra
sponsibie for the advance in Ean,o,,s
Players. which got as high az III
Can money oncned ~ ,r na,. ao,+
but dropped TO five heforo tho oIosa
Time money and commcrciaI nanor
rates were unchanged
Foreign exchanges renoded sIiobt1,.
stirling falling u > cent to 81 Iii! aid
French francs falling / noints to
5.5a,a cents ~ W
Activity Of 'Iexican bonds feotured
today's irregular trading in bonds On