Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1923-06-12
FINANCIAL NEWS w /
IEW YORK MARKET
~ ;, The Days Dealings in All
tasv''' -. 1 sadjno Stocks

vort June 1.-lnternitten
New ,,;sr and profit taking impaired
" selnhie irregularity to today's
ea.,srket which was again fea.
cck The active buying of railroad
.se. - particularly the low priced
rtie.c ~ the most important develop
I ~. Of the day were me ne h nea over
sSrrption of the s.o,Vwo,uuv portiG ;n
the Hsnd Lord Curzon's suggestion
sntrq' Trench that they accept the
the ccrman reparations offer as a
sst o ~ negotiations. Wall Street
ISIS .. Confidently expected an
nket CANTON of the roparations prob
y 49,, reports that oil production
tpl.m, exceeding consumption had a
- su , effect on the oil shares.
pls pres, Asphalt dropped nearly three
neiai. ~ s(1, a new low record, and
tin's. . N to 80. California Petro-
Gas depressed to 1861 bu a
n.,nr Of the shorts sent 1t back to
v where it was up nearly a point
tns lao were forced down a point
eaen h,,t they made partial recovery
MOI net losses being reduced
iraeISv Wore the close heavy profit
W. .st in in New York Central, At
klns md Reading. all of which closed
usv. losses Of a point or more.
hss ~ ard American Locomotives
.rsre offered freely. each losing
p. point. Shippngs were heavy
~ .v American Ship & Commerce
an american International Corpora
.stshlished new low records.
" E,s,s were several strong spots in
Industrial group, notably General
..tric which advanced 6s points,
Woolworth. which scared st.
Southern Railway was one OF the
9, active of the carrier issues,
osi new top at 31i on transact
~ we'll over 30.0Oh shares. Nor
,aS 4 - western was bought on eXpec-
In of another | per cent. extra div
a Philadelphia Go. is expected to
emu 81 dividend basis tomorrow.
wi, money opened at 4, per cent.
snced to 5 and thon to 81. where it
s.saI The time money market was
" with bankers asking ; and brokers
sa,;rr IL for all maturities.
Ths success OF the Austrian loans
~ nd in London and the more IA
s.shls outlook for a settlement of the
.,man reparations problem had Ia
orshle effect on 1urclSH eNCidHse
% sss Demand sterling advanced
s.ry cent to S4.6l 3-16. and French
n sS,; rose four points TO 6.45 cents.
.-man marks rallied to .0012s cents.
i price movements in today's trading
bonds on the New York Stock EX-
ksonce we're within narrow limits.
H. Tho undertolYc holding firm. Chief
,.srast perhaps, ccntcred in transac-
s,s in the new Austrian government
, nsy rent. bonds which were listed on
rhen issued basis. These bonds, Of
nod Al 80 and accrued interest. sold
higher at one time and closed at
Most Of the foreign government
ouds sold slightly lower. Serbian SIS
mining six points at one time but
tlying some later. French issues
hi were heavy. United States gov
rments moved within narrow linn
4 most Of the Liberties showing
ljght Improvement.
After registering small gains in the
Nv trading railroad mortgages eased
SIehtly. a majority of these bonds
osng fractionally lower. New York
fntral IS dropped point.
industrial liens We're dull and inclin-
10 Yield. A drop of one point by
Flson e. Co. 6s. however. was the
bly outstanding change in that group.
Total sales. par value, were $S,-
sshln