Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1923-06-07
FINANCIAL NEWS w /
lFW YORK MARKET
-. ~ The Days Dealings In All
"'' .hs Leading Stocks

i vo,k June 6.-Prices dis
M .raactionary tone during the
ea srt Of today's stock market IN
p. .nsrs was active liquidation
~ "a. or ~ the leather and oil shares.
slns " market rallied and moved
m .sterday's closing figures later
.sense to the brisk demand for
~ the equipments and low
ra,ls. Trading was stu on a
g. Id. basis with public parti-
.a ss at q minimum.
a ~ iow records for the year were
ss.Sed during the session by
s n, Asphalt, General Leather
san and preferred, American
a, srd Leather preferred. Pure Oh.
~. md Pacific Coal and Oil, In
aonai Harvester and American
...s the last named breaking
than II points in refhectlon OF
,educed dividend.
..sh buying power came into the
s cro,,p on the announcement
v psre Marquette had been placed
"a basis. Just before the direc-
s.tion became known the stock
I'D freely on reports that a SO
, no;,,d be fixed. but it bounded
u1.2 when reports of the 81
we're confirmed. New YORK
Ii which is expected to earn
.sSsre on the common this year,
Lifted its years high Of 100 IA,
:. cain of / IA on the day. Chi
Northwestern and st. Louis
Ehvestern also were strong.
fmn Locomotive scared nearly 8
u.s to 145 SIS, the highest price
1s history. Baldwin crossed 1873
IT, NOT gain of / Is. Reports that
ynig iron production broke all
LIS attracted speculative interest
H. steel group, U. S. Steel COM
Gaining l point and Republic
III, Coppers improved on reports
s.vv buying of the red metal for
i'm account. Proposed reduction
Ee Pure Oil dividend was reflect
2 point drop in the stock.
arr,a Petroleum closed nearly a
n higher. American Can, Ameri-
IWoolen and the Merchandising
les also closed strong.
I'm money opened at a "a per cent
the eased off to 4 IL. Some
IL loans were arranged at 4 81
1,ent but most banks are holding
for five per cent for all matur-
Prime name commercial paper
1inues to move at five per cent.
Hareien exchange trading was on a
XTar scale with narrow and ir-
liar changes in rates. Demand
Ejng eased slightly to s4.62 3-16
\ French francs advanced to 6.4S
German marks were quoted
Ina OOl3 IL cents. Greek drach-
slipped back 26 points more to
4 cents. as compared with 4.20
than week ago.
cept for a few outstanding weak
d in the industrial list, bond
/, generally displayed a firm tone
tAay's more active dealings.
4 Areign bonds continued to point
ard with Serbian SIS, up l 3-S,
IA the most noteworthy feature.
, Rch municlpals recoved yester-
r. losses closing fractionally
er. U. S. Government issues also
! y progress, the net gains ranging
Z 1872 to 1882 Of one point.
&ncipal activity in the railroad
. tentered in the so-called specula-
, mortgages, which were favorably
J bnced by another report Of rec
ear loadings for this season of
bear, placing Of Pere Marquette
] I hon on 81 annual basis and
!, rSaer series Of favorable April
tngs statements.
J 5gper company bonds improved IN,
! I mse to reports OF heavy Euro
; buying of the red metal. Ameri-
Telephone 6s climbed l 1-2. Mar
Oil S., with warrants broke O.
points to 120 ga and Virginia.
lima fihemical Z 1-2s, with war
and the Is, dropped 2 IA and
points. respectively. Marine 6s
Detroit Edison Is also were
al sales (par value) were $780, |
y offerings were confined large
small nluniciDal issues