Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1923-01-18
Wv YORK MARKET
Is t,,c Days Dealings in All
|s,.ufe' ~. Leading Stocks

tho le1o'"g
,r,, Ian. 17.-Price, changes
xw iciNii freely uuli stock marilet
icGay Sly small ard indcclSiVc,
~ t,iei adopting Il hcSitant at
NJ cpeiSStnr further Developments
.sie peae,nnas,, situation and tho pub
lie Eafepp;ne little interest in the
ns al quoted Nalues. .. ,,oo.
sFse . " or unwilIingncSs TO meet
iaalii'' eau. ID d r,.oEtf large Vol
Ign t!Sr s selling orders which
u o., ,orn,t Il. weak tone at The
e thi ~. h, declines running from
als NV ans 10 two points. T.ic
.ai ii"e's,stunco Jiiorcd by some q
tGggofa I's,IIsed a prici rally. but the
lelt.!.s r,Iec VOLUME OF stocks
sa,Sialn.;e,nn bir ,cf levels discouraged
katlsd =! "a y" ,aiIs,d prices to sag again
,ygrs a nu period WAS exceedingly
| re h,!o'iH .,ar interests seemingly
l win drnlrss pilccs further Tor
aid 10 "rtnnsaruclIvc Developments
Ell tls' ma lhtm caught snort
kp.psd W. W., Socks and with operators
4 100 hih nsaucc G.SiaciiIicd TO bid UP
b. tue "' he possibility OF ldft htI
bnees W ,'"e |, ,Inr valley which would
ts.pe ~ -, lty.ug about1i large volume
~, .'.id e s.lnng and another sharp
aa'''' traders who bought special
| lairepl' thn tnaory that domestic
has ~ Y. ,'1ryat,ttu an appreciation IN
i1llio.s, ,itiloss Oh GCN pane MS III
bslals ~" .,lIation. tlnai!y broke Inc
BIZ iMties ,,dlock, extensive snort coy
Ep1fchLt oIa .ng the BRISK advance
|nas I'll niace III the last hour.
w. win ~0 ,tudcba.,cr and California
.aldN.i' ,,',,,. again the most active
RtfveuH,, he list. BALDWIN sold PC
ba1Ils -, "a and I-94. CLOSING at lola
! " va a nc, gain OF $ , .;,,,in
,n,aper also t.uctuatcd within a
s'aa '9 slightly more than TWO points
kise U'd.at il3s, or / anoNe iaAt
bnl' tios sI',l ngure. California Petro-
klkN s,omrhcd Svs. but Tell back latcr
Dun ' .','are il represented net loss
".,r;a,s were the first to rally, as
lAuusti,@,be first to decline. the aV-
th! "Ite On Leaders showing n slight
Efase y. over Yesterday. l,allS were
9Hc.sas' rcelecud in the early selling
S',cctIuihed to the second re-
|bul the! Nd were slow in coming back.
at, iuI. s,' Motors INDUCED III a sudden
fa'h "l actiyily. gaining = points on
pul' tto 0 eycocuing I6,uVv SHARES.
ul .a:'r Iv new interest was the onlE
pun ,hs, The speculative community
Fe-9 ,s .drance for the sudden rise IN
kslia sre which sells around Sl4 Il
W. Isa., Zee Eeechnut Packing continued us
tiait - higher ground, showing net
pN y. " - at the close. American
~ alh " Nasreto. Dupont, Woo worth
~ uanaIi Sugar were conspicuous
kla ., .s s,,nts All eli two to 3 Is points.
rnn Of the outstanding strong Spots
wv NJ %osh Motors and National Lead,
N 4 and 3. points respectively.
,atI money opened and renewed at
=, sI rtpt and casod off to 81 during the
sESnrih hour, maintaining that rate I'M
4, mo close. The government an
" the proposed withdraWal OF
Il, oe0 900 from depository BANKS mere
,cnorrow. The time money market
vas slightly tlrmer.
Foreign exchanges were reactlonary.
nsmand sterling got as low as 94:G43.
I'M rallied at the close to S4.644: where
4 was off about i cents on the day.
srpnch francs dropped - points to
IL, cents, and Italian Ira We're down
"a noints TO 4.76i cents. German
r.rts dropped to another new low rec
md beine quoted at .005 cents. or 10
Nm marks 10 the American dollar.
An extremely sharp break in French
md Belgian bonds, which carried a
number of issues to their lowest Levels
n all time, was the outstanding dcVel-
bpment in todays bonds market. which
rss decidedly reactionary in tone.
Ptnc. us dropped below 81. the pre-
viOus low established last November,
Ind the French municipa,s broke
hough their record lows OF March,
I99l
scissors Gs slumpcd Al points and
New low records also were established
~ Serbian IS, off u; Bordeaux 6s, off
Il. Lyons Is and Marscilles 6s. off two
Zach: and Paris-Lyons- Mediterranean
Is Belgian is and IS, and C1echo-
SlOvakian SIS, all down one to II
points dozen other issues also reg
stored losses Of a point or more. Brit
sh bonds yielding fractionally on re-
,ors that the British debt delegation
you'd leave the country without reach
ng definite arrangement for the
unding Of the British war debt.
Weakness Of sugar company bonds in
ympathy with the rcactionary trend
i the raw sugar market was the fea-
IRE Of the industrial list, losses of
ne TO two points being recorded by
outh Porto Rican Sugar Is. Eastern
Nban Sugar rs and Francisco Sugar
Is, Cerro de Pasco SIS broke two
onts. Books were opsn ned and closed
n the new $1o0,G00.000 Anaconda 6
er cent issue and the bonds were
aoted on the stock exchange at slight
above the issuing price. but this
'as not regarded as significant because
invariably support their Of
ee'ihgs until they are we'll distributed.
ne SoOOOO.000 Anaconda 15-year Z
er cent, convertible debentureS will
oHefcd tomorrow at par.
speculative and investment railroad
nr'gageS suffered alike in the rcac-
on m those liens. Texas IL Pacific
ISIS broke three points, New Haven
i. ana Erie convertible As, series ID,
!; whiie flock of other issues were
~ point or more. Local fractions
vision.
IT,. >, government bonds We're irreg-
l an the Liberty Sas and the third and
, sm 1.s showing net gains of two to
.ar cents on 500 and the second As
, nu i, nrsl ana fourth AIS dropping three
l, - cents. The others were I'M
~ fS Sso sales, par value, were s1o.-