Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1923-09-19
FINANCIAL NEWS w /
NEW YORK MARKET
,....rss OF the Days Dealings in All
rs' the Leading Stocks

,ox York, Sept. 1S.-After hold
relatively firm through most of
lhs aay. the general list gave way
Ws .he persistent pressure exerted
W.,nst the low priced oil shares,
aga he whole market moved lower
anu .he final Is minutes in today's
stock market. .
the early trading although the Oil
Ia.sks generally opened lower and
sSsu"ined steadily throughout the
a ,er Absence of newspapers, which
ca, unable to publish morning edi-
Wa a because of pressmen's strike,
u Us left traders who ordinarily
ended by day to day news de-
a .ons somewhat uncertain, but this
,'.sniency was gradually supplied
.as.o,,sh the financial news tickers.
psar traders who wee pushing
- stocks down on the latest cut in
OusoIine prices found additional i'm
ss..us TO short selling in statement
pEE L, Doheny that California
v,rde production has not yet, in his
.a;nion. reached its high mark.
S.nn after that statement appeared
sss gradual decline under way in
.ss general list became more pro-
Nv u,uneed and in the last few minutes
y,ahe blocks of miscellaneous
mares we're thrown on the market.
~ M American Can. the pan-Amer-
S,sn issues, Baldwin. and Gulf
states steer. IL,
,aw low prices for the year, some
~ the losses running as high as
US points. These shares included
uarand. Sinclair. Cosden, Pierce
nil preferred, Producers and Refin-
ave- White Eagle. Barnsdall B, Mid
S Gs states, Texas Company, Phillips
petroleum, Pacific Oil, Texas and
psci6c Coal and Oil. and California
Petroleum common and preferred.
In the general list losses of a point
a, more were registered, among 9TH
avs by Baldwin, Gulf States, Steel,
american Locomotive. Studebaker,
General Motors, L. S. Rubber, Am
srican Can, Dupont and Stewart
Warner.
The few strong spots included
american Tobacco. L. S. Cast Iron
nrpferred. Brooklyn Edison, Brown
sboe Lorillard, New York Dock,
pnnta Allegro Sugar. and Pacific
Gas and Electric, each up a, point
or more.
Call money opened at 4 "a per-
rent eased later to 4 II and closed
At 4 Time money rates continued
firm with 5 10 bid and 5 Sd offered.
Demand sterling yielded slightly
10 1853 IL and French francs ref
taded nearly two points to 5.77 IL
cents. German marks touched 35
cents for 100.000,00O but rallied
slightly before the close. Most of
the other European exchanges were
slightly lower on the day.
Bond prices moved lower in to-
days trading on the New York Stock
Exchange, influenced largely by the
decline in stocks. With few eXcep-
tons however, the recessions were
small
Active United States Government
Bonds held relatively firm. the tax
exempt 3 LIS improving fractional
", Foreign government issues were
inclined downward. Chinese 5s
dropping a point.
drop of 4 points by Minneapolis
and St. Louis refunding Is brought
that issue to its previous low figure
for the year. Frisco adjustment Is
defined point and marlborough
Rapid Transit Is moved 1 3-S lower.
Wilson and Company Convertible
IS advanced l IA. while Sinclair
Consolidated Oil Is lost nearly 2
points and American Telephone and
Telegraph collateral IS dropped 1.