Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1923-01-27

NEW YORK MARKET
features Of the Days Dealings In All
the Leading Stocks

New York. JAM 26.-Unfavorable
news developments abroad continued to
curtail trading in today's stock market
in which a number of industrials were
pushed up on reports of large current
earnings, while others yielded to week.
somewhat spotty appearance at the
close. Movements in the market are
still dominated by domestic business
conditions. activity, centering largely
! in shares Of companies likely to resume
| or increase dividends.
The European financial communities
reaction to the latest developments IN
! the Ruhr was reflected in lower for
Ggm rnm TafsS to 4sf
francs from 6.4Sa cents to 6.3s, ana
| Belgian francs from 5.96a to 5:76a.
| German marks we've quoted at only a
very small fraction above their ex x
IRENE low record, which was 'oo41
| cents.
Consolidated Gas was again the most
active stock on the big board" touch
| ing 69l, or nearly point above yes
terday's best price. and then Ie ehe5nr
which was the next most active stock:
was unchanged. while Baldwin closed
| / higher to 1874.
Independent steels were strong dur
| ing the early part OF the session. Dut
| early gains were cancelled or material
Kresge was the individual feature.
establishing a new high record az
20S4. net gain of 70 points. ms az 10
port. made public after the marKes
closed, which showed net earnings OF
| $6.616.417. equivalent to S33.o2 a snare
| on $1S.22S,200 common stock utstand-
| ing, as against net earnings OF S3,4OZ,
O33 in 1921, equivalent to S20.25
share on S16,1O1,200 shares of common
| stock outstanding.
Fisher Body. jumped II points on IS. 70 =
| 1S6 on publication of an offer or w. =.
Durant automobile manufacturers to
| buy the entire outstanding stock at
| 5000 a share despite the financial COM
munitys belief that the offer would
not be accepted" The stock closed at
Durant who has been selling Fisher
| Body stock on a partial payment plan;
| announced that he was ready to cancel
| the contracts of freighted investors,
paying them s43 a unit. or the cquiva-
| lent Of s215 share. as against the
purchasing price of $40 a unit.
| Western Union was pushed up z
points on reports of highly improved
| earnings, while gains of two points or
more also were recorded by Conley I'm
Foil Bcechnut. Stewart Warner Speed
ometer, White Motor. Postum Cereal.
| Brooklyn Edison, Van Raalte Silk,
Bethlehem Steel A. American Cotton
Oil and Chicago Pneumatic TOOL.
| Pierce ARROW ISSUES Slunlpeti on tIic
announcement of new financing; inc
common dropping IL points and the
preferred three. Realizing sales caus--
cd rccessions of 81 in Woodwork and
! II in United Fruit.
| Rail shares We're inclined to ease.
Baltimore & Ohio was in good demand
| closing nearly point higher on specu-
lative expectation of a good Decent
Der earnings report. Southern Kali
way also was active. closing at 80. q
net decline of z. Gains of one TO two
points were registered by Frisco pre-
| ferred. Iacllawanna Delaware 4 Hud-
son and Reading first preferred. Jer-
sey Central dropped ~ points
Call money held at a. per cent.
throughout the day. There was less
ching of activity IN the time ,eor money one
for all dates but being forced to pay
! AZ for the longer maturitics. Little
business was transacted in the shorter
maturitins. Commercial paper is NOV
ing in fair volume. the bulk of prime
names commanding ~ per cent. for
, four and six months maturltleS.
Over-subscription Of the s2o.ooo.o"o
| iss,Io Of IS per cent. consolidated mort
gage bonds Of the Bethlehem Steel 50;
and $1,000 600 rcfunding and genera
mort gage bonds Of the Republic iron
&, steel Co. new low records in som"
Of the French bonds and irrcsularlty
in the general list were the chle' de-
yclopmcnts in todaN's bono marhc'. ,
Selling Of French rs. which dropped
! ono point to $50. n new low: ana
| F'rcncj, S.. which duplicated their Pre-
vious low Al 81 was prcdicated on the
| latest DEVELOPMENTS in the rum. IN.
| Guiding thu publishing OF estimates or
tho cost Of French occupation. ,IhoSc
! bonds suffered from lack OF huyih.
mower rather than from pressure oil
! liouidation Paris-LyonS- M"ditorran :
can 6s established n new low at On |
ard CZccho- Slovakian SIS at 81. Whiir
| bordeaux 6s and Marseillos IS oach
sold at 7nl their previous low. Prague
~ and Framcrican T3s moved up a
point each and Jurgan 6s II.
Liens Of copper companies were
strong on reports Of an advance m
The price OF tho red metal TO a. cent,
? pound American Smelling 's ara
Chile Copper IS gained ono ana :
| points respectively. Listed bondS OF
| Independent steel companies rcactfu on
tho announcement of now financing.
Bethlehem steel rcfundinz IS and nur,
| chase money IS dropped j. ana &
points respectively.
| Sneculativc railroad mortgages We're
| frm. gains Of point or NOR" being
| recorded by st. Paul convertible Ans.
| Cb;cago & Great Western as and inter-
| national & Great Northern adjustment
| certificate Cs BROOKLYN Rapid Tran
sit issues. particularly the IS. were
strong. L. s. government issues were
f! irregular moving within radius OF
fdrr cents on s10n.
Total sales. par value. were So