Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1923-09-18
FINANCIAL NEWS w
NEW YORK MARKET
Aura, Of the Days Dealings In All
f"'' the Leading Stocks

49,, York, Sept. 17.-Stock prices
Nss,sd a somewhat steadier tone
csp.hsr dull trading today, the vol
y ~ transactions falling consid-
W. .r.Sy below that OF last week. Clos
a'U ar,ces were shaded slightly from
ny Ssav's tops and in numerous in
4 us as fell below final quotations of
Sa sssre was little in the news to in
luz. traders. Bear traders ac-
fus ..S premier Poincare's Sunday ad-
ep.o 90 somewhat unfavorable to the
dlss s,sss of Ruhr negotiations and oil
pIes, we're adversely affected by
sau .nsr cut in gasoline prices. Des-
sa wv Intermittent selling and slow
p .snr on the advances most of the
aau ,a, leaders moved slightly for
popsI and the averages gained frac-
var o,,v being aided by moderate
uo ,us by several Of the standard rail-
F's sa,SIehem Steel per cent. pre-
sS declined 2ia points and
Nl lrs Sheet and Tube slumped
lour noints. but U. S. Steel advanced
,,sctonally and Baldwin and Lima
HIa.omotive moved up a point. Amer
L ". can closed rs higher on the day.
Ns mabacco shares were bid up slight
,noerican Sumatra gazing points
W Tobacco Products more than a
any, ,, Woolworth climbed 51a points,
poo,.o.iated Dry Goods Ia. and Gimbel
ass |. Beechnut Packing moved
up points. o;n. ~ n,ors vsre rs
.sssd also by American Agricultural
tcsn,,icsl. Chandler Motors. Dupont,
smous Players. Mack Truck. Pacific
s.. and Electric. Utah Copper and
u ""oral Of the industrials specialties
.. tho other hand Columbia Carbon.
,msrican Sugar, and Cluett Peabody
a.r;stered losses by a point or more.
.mong the railroads Northern Pa
.,sn and Union Pacific gained rs and
S craor Northern preferred Is. Rock
yIsrd n, per cent preferred sagged
,'' Market Street Railway preferred
dropped "a. and the second preferred
Ts i money opened at 5 per cent.
.sSed later to Az and closed at 4.
Time money rates stiffened somwhat
Nth the shorter loans commanding
~ ner cent and those of longer
snration going at 5s4 per cent.
With the exception of demand sterl-
Inc which held steady around S4.54,
ioreign exchange rates generally were
orer. French francs eased IA
noipts to $40 cents and German
marks we're quoted at So cents for
IaO0OoO0O Spanish exchange again
improved slightly.
price changes in today's bond mar
set we're generally confined to frac-
,ions with an irregular trend. The
vnlume was somewhat smaller than
was handled on mast days last week.
While some of the European is
sues moved up fractionally the French
issues declined slightly, Lyons 6s
dropping 1s4. Cuba IS dropped a
point. Active L. S. government bonds
improved advancing with ranges
from 1872 to 4-32 of a point.
The market for railroad mortgages
was very narrow with prices about
evenly divided between gains and
losses Industrial liens displayed
conflicting price movements. Ad-
vances of a ponit or more were re-
corded by Humble Oil 51as and Ar
mour and Company AIS, while Will
son and Company convertible 6s de-
clined IL and United Realty Stores
g. !.
There we're unconfirmed reports of
new financing by the Shell Union Oil
Company through an issue of COM
mon stock. A definite statement
was promised by Company officials
for tomorrow