Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1923-02-21

villn and Norfolk & Western Chicago
! N Northwestern. 81 Paul SouthwcStarn
preferred and Baltimore < Ohio, all up
| a point or moro.
| lnduStri2lS were taken in hand again
| IN the late dCalings American can be
| ing pushed up more than four point );
| to new peak price at lG0i then re-
: acting to 80 NJ tho close. I'nconiirme,l
reports of an carly incrcnS" in tho
! dividend rate from 81 to s. sent StrC,n-
| borg tdrhurct"r soaring tN a now hi2n
| ut NJ. or nearly II points above yes
' tCrdaN'S low. other motor accessories
! improved in sympathy. Fisher Body
! Jumping 10 points To isl and Bosch
| Magnetic touching 40! and then slip
| ping back I" 4G' where it was up near
\ ~ four points on the daN.
Maintenance" of tho IL crnts n pound
| ratc for corp' + and announcements of
bile tires were h" principal items Of
tired" news. Establishment OF Il now
| high record fer sterling within II con, :
of parity and only 80 cents below Tho
| ''po"ecd rate" of Si.15 maintained 10y
he British government during the war.
he'd cheerful effect on sentiment.
HuNing OF the chemical shares was
based on reports of tho steady i'm
pi'oN"mcnt III that industry. gains of
| ono to >! points being registered by
American Agricultural. DaNiSun. ana
Virginia Car"lina common and pre-
f"rrod. United Fruit made a quick re
sponsn to rumorS OF an extra dividend
istrihut ion. jumping from 113 to 1907.
Phillips Petroleum turned heavy ON
the announcement that tho directors
had deemed ii adviSabl" to amend the
certificate of incorporation in order to
provide for 100 per cent. increase in
tho amount of authorized capital stock
tall money opened at 4. per cent.
advanced to during the noon hour and
to y just A few minutes before the
close. Time money was quiet with
funds available for all matuitics at )
per cent. The commercial paper mar
llct held firm.
TIL" features of tho foreign exchange
market were tho continued strength of
sterling and the renewed weakness of
German marks. which dropped 10 .004t
cents as against tho recent high of
.t"5ot and the eXtrrmc low Of .oo2o cs-
tahliShCd last month. French. Belgian
and Italian rates all showed improve
mcnt.
Bond prices again moved within mar
row limits in todayS relatively dun
and embarrassing dealings. Chief in
tcrcSt ccntcrcd in the continued
strength Of speculative railroad mort
Cages and II" further recovery Of for
cign securities. United states govern
| mcnt bonds were irregular. Liberty 3ts
and the Victory AS gaining eight and
four cents on 500. respectively. whilc
tho other active issues registered
losses of four to 10 cents.
Frisco income 6s established now
peak price on a not gain of ono point
and were followed into higher ground
by Southern Pacific As. New Haven 6s
and some Of tho other low priced is
sues. New Orleans, Texas & Mexico
IS dropped Il points.
Seine -. up !, and Prague rs. up
one. were the strong spots OF The Tor
cign group British SIS of 1929 made
new high price for all time in re-
Election of the further advance in stcrl-
ing exchange.
The demand for industrial company
/, liens was most effective in the sugar.
copper and Independent steel groups.
Wickwirc Spencer Steel rs and Cuba
Cane Sugar SIS being the outstanding
features.
Total sales. par value, were SILL
$4,000.