Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1923-07-14
FINANCIAL NEWS
EEg
NEW YORK MARKET
Features Of the Days Dealings in All
& the Leading Stocks

| New York, July 13-Friday the
fourteenth did not have any supersti-
Itious effort on buyers of stocks,
jprices Of which rallied briskly in to-
idays late dealings after having
fsSrifted aimlessly most of the day. 1t
Twas the first real squirt in nearly 2
Iweeks and carried a number of the
leaders or more points above yes
iIferdays closing prices.
| While an over night study of Pre-
lmier Baldwin's speech had dissipated
1some Of the pessimism aroused by
1.-THE garbled summary published by
flicker services in the financial dis
Gr.rict yesterday. The turn of the
market did not appear to be inf1u-
fenced by any new developments.
tNhree months Of .reactionary prices
with but few conclusive rallies, had
resulted in the building up of large
fshort interest so that there was a
tpcramhle to cove n when signs of
Igood buying appeared. ~, aag1
1 Net gains Oh " nearly points
1Sere registered by such prominent
tissues as Baldwin and American Lo-
locomotives, American Car and Foun-
1aFy, American Can, Corn Products,
dupont Vanadium Steel and Wool
worth while number Of others
twere Up point or more.
r. Squeezing on the shorts in Della
WARE and Hudson sent that stock up
w points to LOT butrit fell back to
Tvs before the close. Other rails
tnade moderate progress, gains of a
point or more being recorded by
lanadian Tactic, Baltimore and
Uhlo, ST. Paul common, Chesapeake
sland Ohio, Lehigh Valley, Missouri
faclfc preferred and Union Pacific.
sugar shares ruled higher despite
further reductions in the prices of
Ilae renned product. Buying of these
faares apparently was Influenced by
reduction in the crop estimates of
1lwo Leading authorities. Coppers also
tlolnted upward in response to an
decreased demand for the red metal.
liquors were influenced somewhat by
lthe report of the national Automo-
~ Chamber of Commerce showing
Eoal production in the first six
lMonlhs OF this year of 100000 pas
.Fnger cars and trucks as compared
sllh l,l61,0O0 in the corresponding
Eenod last year, an increase of "a
Cal money again held at 8 per
teas all day. The time money mar
y. was dull with a few loans ar
y [nsed at 8 IA per cent. Out-of-
S.a banks are the principal takers
numerical paper, the ruling rate
~ winch is per cent.
inc London financial community's
!, kbsS,orabie impression of Premier
tauWln's address was reflected in
~ higher sterling exchange rate.
'aand bills getting as high as 4.60,
nes gain of about 4 cents on the
Ersa A' Doubt over the French atti-
eaus on Great Britain's proposals
NIT, some selling of the contin-
dTer0 currencies, but the recessions
t s0Iday's bond market was a dull
(,ter r,f. Fluctuations. generally were
! lsrms small but the undertone seemed
XtilIitteel was some selling of public
nintV company bonds, losses of a
Power .acn being recorded by Utah
JSowes ana Light IS, Northern States
'gternstt,Ios and Columbia Gas IS. In
: lyieIdodo Mercantile Marine Is also
an, n,saiiroad mortgages were ouiet
EorL H mt changes fractional. New
Mines en,ral consolidated As and
t@-eapolis and st. Louis refunding