Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1923-06-06
NEW YORK MARKET
Features Of the Days Dealings in All
tho Leading Stocks

New York, June 5.-Price move
ments in todays stock market threw
i little light on the speculative atti-
tude regarding the future course of
business. The line OF least resis-
lance seemed to be on the upward
: side with chief interest conferred in
- few specialties and a select assert
ment of steels, equipments, oils and
low priced rails.
Commission houses reported little
public interest in the market the
days total transactions, with one
exception, being the smallest for any
full day session this year.
Several times during the course of
l the day brokers reported wide
i spread between the bid and asked
| prices, even of some of the most ac-
tive stocks. On one occasion Bald
win, which had just sold at 129 is
was quoted 1870 bid and 1870 "a ask
ed the next sale being 500 shares at
$50. The stock closed at 1872 for a
net gain Of 5-S points.
Unfavorably conditions in the
leather industry were reflected in the
weakness of those stocks, American
hide and leather preferred and Gen.
trail Leather preferred, each falling
about IL points to new low rec
ords for the year. International
Harvester also established a new low
at IS 3-4.
Steel showed moderate improve
ment Coppers were, firm on reports
Of better trade conditions. Oils were
inclined to sell off. Phillip Pc
troleum dropping nearly 3 points and
California Petroleum closing a point
lower at liz 3-S after having touch
ed ZIG.
Speculative expectation Of favor
able dividend action by several roads
IN the near future brought fresh buy
ing power into the rail shares. Hope
Oh an early increase in the annual
rate OF the New York Central to Sc
WV share was frightened by the
report for the first quarter showing
surplus. After charges of So 909.-
~ as against s3,03S,057 in the first
quarter of last year. The stock
cosed at 80. up l Is. Pore Mar
saeue is expected to go on SO or
" y, oasis tomorrow. Baltimore and
ono also Is slated for an early re-
sumption of dividends.
Call money opened 4 "a per cent,
nut advanced to 5 before the close.
banks are Offering time money at
yer cent but brokers seem well sup
pned and are bidding only ga.
Foreign exchange displayed a bet
Mf one. Demand sterling held fair
Y steady around s4.62 Il and
s s'. francs advanced points to
9 na,- cents. German marks got above
" So,' cent but slipped back later to
%vi4. Greek exchanges, which
S%opped 20 points yesterday, fell
s sSsA % more today, being quoted at
GENERALLY insignificant changes
hnalacterlzed today's dull trading in
SSnds on the New York Stock Ex-
.anange. U. S. Government issues
m rpped back slightly. A good de-
s s,saG was noted for Serbian IS which
,'u between ~ and 70 IL, showing
I'e gam of IA at the close. French
r, a.-s improved moderately but the
Aon munlcipals lost ground.
va m lne railroad list, Louisville and
ana snyiile refunding 5 LIS, Denver
E s no Grande rcfunding IS and
r ,,e General as up 3-S to l SIS,
Seu me outstanding strong spots.
m;.. 1ofk Central issues also were
Qulte active.
n n and Tube Is climbed nearly
spr re,n's and International Paper IS.
caroI;.D w. ! 1-2 but the Cirginia
Stea, Chemical and Bethlehem
WI ISSUES were heavy, Marland