Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1923-09-25
NEW YORK MARKET
...urss of the Days Dealings IN All
|'' The Leading Stocks

v.w York, Sept. 24-Irregular price
.rs,nents in today's stock market
.,,nred to reflect the play of oppos-
sneculative forces. The opening
=. strong in response to cable re-
WITS forecasting Germany's decision
capitulate to France in the matter
psparations. Considerable short
s.rsring took place in the initial deal
s.s hut when the bears discovered
sst there was little disposition on
~ mart of operators IN the long side
N the market to press their advan-
@,s they began to offer the specula-
.ss leaders freely and the whole list
Inssed again.
Tsa market turned upward in the
.,rly afternoon with good buying no.
IA n the low priced oils. and a re.
.smntion Of bullish operations in
|,tcks in which favorable dividend
I;srplopments are reported to- be
I.snding. Net gains largely exceeded
= losses at the close.
me continental allied exchanges
ode the quickest and strongest re-
! .ronse to the better tone Of the for
.sn news. Belgian francs jumped
ARE than 80 points to 5.45 cents.
lyrsnch francs advanced 1914 points
s17 cents and Italian lire jumped
N ponts to 4,61 cents. but all these
.rntotions were shaded somewhat
issr Demand sterling advanced &c
IN s4.55ss.
II The failure Of n sharper rally in
4.cck prices on foreign developments
Isas attributed in many quarters to
/ np general uncertainty concerning
! hp future trend of domestic business.
2rommission houses generally had adj
4rged against the indiscriminate pur-
Vase of stocks while several have
lrrtoned their customers t. stay out
n the market pending more definite
Developments on the ultimate trend,
lFhich probably explains the appar-
Ist lack of public interest.
\ Studebokor was the target Of bear
Iycssure, hcinG forced down to 9S7s.
lin. swapping back later to 100ss, off
Ia L. S. Steel common ranged be-
ItTsen S6ss and SSls. Closing I'M
Managed at SI2..
Il Some of the outstanding strong
Yspots were Dupont, Continental Can,
Ycun Products. L. S. Industrial AL
Heohol. General Motors : per cent de-.
ihntures and Phillips Petroleum. up
L, to 81 points and Houston Oil up
IL.
70; on the day. Baltimore and Ohio
| was again active on speculative eX-
uc.ation that the common dividend
will be resumed before the end of the
YEAR the stock closing at >" for net
ea!n of y on the day. Call money
lopened at Az per cent but advanced
Ito 5ls before the close. The time
lnoney market was quiet with brokers
lbddng 81 for all dates and bankers
asking 5l4.
Speculative interest in French and
Belgian bonds. which advanced mod
eately featured today's trading in
/ bends.
Active L. S. government were quiet
with prices practically unchanged.
|Gains of a point or more were re-
Sc6rded by Lyons IS, Framerican 7las
/ and Belgian SIS. Some of the others
closed fractionally lower on profit
taking.
| Some of the railroad mortgages dis
played strength in the early trading
but net changes were small. New
York Westchester and Boston 4Rs
/ moved up a point while Pennsylvania
general AIS declined 115.
Trading in industrial liens was dull
and price movements irregular and
within narrow limits. Sugar issues
were fairly active but closed within
fractions of yesterdays final quota
ltcns.