Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1923-04-27
NEW YORK MARKET
Features of the Days Dealings in All
the Leading Stocks

Now York. April a6.-Tlicc move
mcnts in todaN's stock market. for all
practical purposes. cunSi silently follow
ed their narrow and uncrrtHlu trend Of
recent days.s Dealings Were moderate
lY larger but tn" trading WAS almost
entirely in tho hands of professionals.
Holders of securities showed no incli-
nation to become alarmed and bear Of
forts 10 push down prices wcr" for the
most part Ineffective. However. thcre
was no noticeable effort 10 force prices
up rapidly.
OF chief interest was tho FIRST in
crease in call money rates This week.
tn" rate rising sradnally from Al per
cent. in thC first hour to Il per cent.
shortly before tho close. Spectators
for the decline sought on each success
SiVo increase in the rate to force prices
down by concentrating an a few shares
hut their efforts failed To shake the
general list.
Most Of the usual market loadors
fiuctuatcd within fractional limits. re-
h"cllng the varying operations of the
trading element. several of tn" food
ana tobacco SpociattjrS scored SubSt an
tial gains and public utilities were con-
Sialcntly strong on reports from Al
bany that the legislature had defeated
a number of bills considered antagou-
istic to such companies.
D"Spit" further increases IN tho
price of sugar which moved to new
high records again. shares Of The SUGAR
companies sold off. rcCCSSions being in
f!ncnccd by word fropl Washington that
prosecution against speculation in fu-
lures at tho head Of the calendar
American Sugar closed II off. Punta
Allegro ! / and Cuban American Sugar
point. American Beet Sugar was an
exception. advancing q
American WaterWorks common and
the per cent. preferred. up and -
respectively reflected a speculative an
ticipation of increased earnings
Dupont was in heavy demand, aI-
vancing *. and colorado Fuel contin-
ued its gains. closing at 34s, up IL on
the day Consolidated Gas. Brooklyn
Edison and some of the other public
utilities gained l to Il points. Market
Street Railways prior preferred dcclin-
ed a point and the preferred 2.
Gains of l to , points We're recorded
by Atlantic Refining. Barnet Leather
Corn lrotMcts, GOODYEAR preferred, In
Circuit preferred. Kresgc and Fisher
Body each gained 81 points Otis Elc-
Vator was oft nearly five points.
Tho railroad shares were on the
whole rather Indifferent TO the course
ern declined 1s and Atlantic Coast
Line /.
The call money rate opened at q. per
cent. Two increases We're cha liked mp
during tho noon hour and Just before
to 6 per cent. Time funds also Stiffonod
slightly on increased mercantile dc
mand. Commercial paper was modcr-
ately active with prime names dis
counting at ) to u per cent.
Another sharp break in Norwegian
exchange featured todays foreign ex-
change market. The crown sold off 80
points at 1920. Yesterdays decline
was IL points. The break resulted
from cable reports that another bank
at Christiania was in difficulties. De-
mand sterling cascd OH to S4.G3k.
French francs We're slightly improved
at 6.7Si cents. up / point.
Continued strength Of foreign gov
crnmcnt issues and selling Of the L. S.