Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1923-07-13
FINANCIAL NEWS w
NEW YORK MARKET
e.,.ures Of the Days Dealings 10 All
'' the Leading Stocks

yow York, July 12-Extreme dull
,ess characterized todays stock
Nortet. the quietest full day session
~ over a year. Price changes. as a
. ,,,le. were narrow and irregular.
! Stocks started off fractionally high
, - and early gains We're extended as
result of short covering prior to
s,e notification of Premier Baldwin's
. .ns in the House of Commons.
n"siness was virtually suspended
i,siIe a synopsis Of the statement
,ra, being published on the financial
/. ,;srers and Wall Streets first reac-
ION as reflected on the ticker, was
+, slightly unfavorable.
. large traders. however, seemed
,,inosed to await the full text and
olOp ys a careful study Of the same be-
t i,r extending their commitments
W., W. there was a continued absence Of
a anS participation so that after
pun pun trading continued sluggish with
Nc Nc changes generally unimpor-
i rt American Car and Foundry
I sronned 5 - points on what was
uhyiansly forced liquidation. There
Us a thin market for the stock
Viii broke . IL points on five sales
" 100 shares each, the days total
... "a being only about 1000
shares Baldwin crossed 11S and
.hsn dropped back to III is. where
, u WAS ND SIS on the day. American
I'ocomotive registered a small frac-
! tional loss.
Oils failed to make any appreci-
able response to the reported reduc-
finn in domestic production. Cop
uers were eighty tirmer in reflection
- a stiffening Of commodity prices
= ond an increased demand for the red
r,etaI Steels showed little change
on the day. L. S. St2ll common again
selling above 30.
pail shares continued to disregard
+hs unusually favorable car loadings
ronorts although the seasoned divl-
lana navers showed the best buying
s,,nnort gains of n point or more be-
;nr recorded by Delaware and Hud-
son Lackawanna, and Canadian
Pacific. u.,
,nots we're American Agricultural
Chemical preferred. Famous Players,
1igeett and Myers B, Air Reduction,
WooIvorth, South Porto Rican Sugar,
vonadiur, steel and Pierce Arrow
nreferred. up 2 to points.
call money held at percent
throughout the day. Time money
continued firm with brokers paying
51.4 percent. New commercial paper
was slow in coming in and the de-
mand was moderate, the bulk of the
nrime names commanding percent.
Foreign exchanges held steady with
M important changes in rates. De-
mand sterling sold just under
si5S - and French francs We're
onoted around $500. German marks
again climbed above the .0005 cent
mark. :.
Further irregularity took place in
todays bond market with traolns
dull and the high class investment Is
sues displaying a firm undertone.
Except for loss of IA py tlae
paris-Lyons and Mediterranean os
and 1 point by Rio de Janelro IS OF
1917. fluctuations in the foreign
croup were small and unlmpoftanl.
L. s. Government bonds held STEADY.
Losses exceeded gains in the active
railroad issues. New york west
chester and Boston 4 LIS broke IL
points. Minneapolis and st. Louis re-
funding As, 3-S, and Chicago Great
western As. one. New Haven rs and
the as of 1857 each advanced about
point as did Chicago and Western
Indiana As, and Denver and Rlo
Grande refunding SIS.
Industrials showed moderate I'M
movement. Gaine of one to two
points we're recorded by Virginia
Carolina Chemical I LIS with war
rants. Producers and Refiners IS,
PEOPLES Gas refunding IS, Northern
States Power IS and Cerro de Pas
CO S.
Total sales (par value) were
sS044000.
The largest offering today was the
$1,000 600 Cleveland Union Terminal
Company five percent bonds when
was promptly oversubscribed. Re
ports were current that a public OF.
fering would be made Monday OF
$1,000 900 Ohio River Edison Com
Iany first mortgage Gs, due in 1913,
at around 50.