Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1923-05-30
FINANCIAL NEWS NJ /
NEW YORK MARKET
... AZ The Days Dealings in All
Fss'''' ,hs Leading Stocks

New i eyh,saracterized today's stock
dullnes.s IN which the price movements
narKess. - ~ in reflection Of specula-
yere ;mndscision over the next definite
n,sris.s.t., s5snul interest was confined
prT ,v 10 about . dozen individual
a sneSs reports OF an early resump,
: ssS Of divends on. o Crncioi e. steel
brolen,v hich was run up to IS and
Stock :. I'd on to 72. where it was up
tten 49, ~ the day. American Locomo-
thru .sSMched a new top at 1881 and
tive !y;rned back to al on profit TAX
then snnsIdWin touched 1881 and then
ins. :, n isiA. Studebaker gave prom
easeCt ~ On oid-fashioned move and was
lse " IN TO 1881, but large volumes of
~. stacks IS were offered at me e., Top prices
ups!!i.. Of copper metal at IS cents a
tgn'' hroueht some selling into the
Mfg, .hares. most of the coppers
me M; Slight fractional losses at the
sho.'"e American Smelling. however.
cos.i nearly two points higher. and
eo. .." Lead showed a net gain of
!. American Can and California Pc
..aIaufl also Silo"eu ma hoo oSlANt.s'
Y. farmer closing unchanged on the
ns y. md the latter gaining 4 of point.
oS..rations for the rise were con-
,' vS with moderate success in the
thu N..d shares although there were
nil'S ssvy spots, the most conspicuous
n~ r Ih were Canadian Pacific and
oM..shnre & West Virginia. off ! and
4 trr.snectively. Erie issues made a
.s,.t response to the excellent April
ss,rnings statement showing surplus
y e91I 1877 after fixed charges and
M.s,rr fund. as compared with de-
~ sl, ~ sl,s27,000 for the same month
l ,A!s v.ar. Erie common advanced on
=. day and the preferred issues Ii
-. & LoujS & Southwestern COM
ea sn and preferred. Rock Island 6 per
i a.s, nreferred, Reading second pre-
s.Ss peoria & Eastern and Western
ip,.Nc preferred advanced one to two
,.ints. the turnover in some cases be-
ng very small.
,,.size that production in all districts
rrs,actically at the high rate of early
W. and that while new orders, as
,Ms;,rrushed from specifications on
IA nontracts, have fallen further be-
Nv Tho shipments from mills. cancel
i,,,ns are negligible. and the tonnage
y, which deliveries have been held up
4 relatively small. =,
Ri money opened at ~ per cent.
,u 49, advanced to 5 before the close.
Time money and commercial paper
1 ,N on a 5 per cent. basis.
trading in foreign exchanges was
,n;et and irregular. Demand sterling
.,ssd :; of a cent to $4.62 and French
s.ncs dropped three points to $50
ssnts Argentine paper pesos dropped
| "a s5 cents another new low.
Interest in today's relatively dull
,r..holiday trading in bonds centered
n the activity and strength OF Eric
railroad liens. one issue Jumping more
,san two points and four others re-
e,rdng gains of more than a point.
Trading in these issres undoubtedly
1,s influenced by the exceptionally
favorable April earnings statement or
I the road.
mass of the market was presented by
ise continued forward movement of
active U. S. government bonds. All OF
/ ,b,se issues, with the exception of the
ny exempt 3,s, which closed slightly
aver after rising on early sales. ad-
w,c.d from 1872 to 1882 of a point.
Erench bonds were more active, Lyons
Is and Marscille 6s each gaining a
rojnt Rio Grande Do Sui IS advanced
point.
| Trading in railroad mortgages con-
,inued more or less irregular. aside
from The improvement in Erie issues.
New York, Westchestcr & Boston AVS
rceded II. High grade .industrials
hid steady while some of the more
speculative issues fuctuated with the
| STOCKS. Union Tank Car rs advanced
. II points and Marland Oil 6s, with war
nnts, sagged five points. 49,
Total sales. par value, were WV
| HS,0O0.
Bankers Offering the s1O.000.000 As
Nciated Simmons Hardware Co. To-
year Sts per cent. gold notes announced
4 the issue has been oVerSubScribcd.