Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1924-10-31
IEW YORK MARKET
:. .,,,.s Of the Days Dealings in All
raw the Leading Stocks

yeu York, Oct. O.-Stock prices
,,s.Ioped moderate strength on a
aa.s,ly increased turnover in to.
SIS .asts market. Net gains in the pop
- rails and industrials ranged
b@ ~, small fractions to 1-C points.
.poebuck was the individual
N,nre soaring more than six points
ri is, four year high.
Euying for both accounts was in
.nsuced BY the overwhelming VIC
~ ~ the Conservative party in the
n ~, elections, which also account
for the unusually heavy demand
s,erIing exchange which was car
"a above S4.52, to the highest price
.inee last August.
peports Of improved trade con-
,..ionq and large current earnings
'"sre responsible for the continued
"e',,,ngra;io Of mail order and mer-
sandIdng issues. Associated Dry
c1ads went to new high for the
'asr AT IL IS on predictions that
;se 1874 earnings will approximate
.ros sbare. Fl. 4. Nallinsof was up
- "a and then eased to % for a
.n,ou fractional gain on the day.
natnan Corporation, and May De-
,~r,meut Stores improved slightly.
slIe Woolworth climbed more than
n.jp; 10 10. Montgomery Ward
teid gcady around -.
e,ecl shares developed slightly
t,,,er tone, I. s. Steel common NOV
"@~ IN about a point to los is and
,.rori,Iic gaining ! IL. American
ran vas the strongest feature among
,ts s1.calIcd pivotal shares. showing
40, gain Of more than . points at
T.;
A. Atlantic Coast Line advanced
sia points and gains Of a point or
nore we're recorded by Union Pa
GGc KATY" preferred "A" Mis-
.ond Pacific, New Orleans. Texas
aod MEXICO, and Pittsburg and West
yirclnla Flights the last named
,ourhing a record high at II.
American Tobacco reached anoth-
=, new top at 1856 ~. up IL. and
GOOD buying also was noted in North
,merlcau, United States Cast Iron
Pine Iosch Magnetic. Atlantic Re-
enInr Dalison Chemical. Interna-.
euIt. United Drug and Worthington
Pump.
smear shares were weak, American
suear Refining common ana prefer
ed established new 1924 lows at 36
and r. respectively. IIeavincss also
Was apparent in General Motors,
Manhattan Shirt and yellow Cab
Manufacturing.
Exccpt for the buoyancy of sterl-
ING and the sale of Canadian dollars
at slight premium. there was little
NJ interest in the foreign exchange
market. French francs continued to
rue inst below ) lie and the other
European rates showed only nomi-
nal changes,
can money fen back TO > per cent.
reports beng current that proceeds
Of tbc German loan were being tenn
porarily employed in the call money
market. Time money and CONNER
,lsl paper rates were unchanged.
An abunuancc OF money mt lower
rates impaired II firm tone to the
bond market TODAY, although trad
IN. continued dual Wall Streets
supplv oC funds was swcllcd con-
silcrahly hy the payments for the
German loan. which fol- due today.
more than Sl00.OOo.OO0 flowing into
pany.
nis,rlhutinn Of the funds for de
post in other banks creating large
German balances here Is expected
To accent,atc the case OF money and
80 become an important factor In in
scstmcnt buying bonds.
This situation was reelected to
some extent today in steady accu-
mutation of high grade issues. stan
dsrd investment railroad liens such
as Mrhison adjustment Is. New
York Central Is. Union Pacific first
Is, and Northern Pacific rcfunding
lis aud IS -" were In demand. Sell
iug of several low priced rail bonds
failed TO dcprcss the general tone of
this group,
The influence Of the Conservative
victory In the British elections ana
The resultant rally in sterling was
shown Inv tho upward movement or
United kinSdom :, IS Of lDro and
hi. both Of which sold around the
Years highest levels. Liberty bonds
and other foreign obligations were
steady.
Public Offering will hc made to-
morrow Of S..3 tMN cM Brooklyn Edi-
son General Mortgage = per cent
bonds around par Another puh,ic
wllitv issue offered ut par consists
of 81 ,ann On Som hcastern Power and
'lSht Company = years six per cont
Notes Offering OF 100000 shares ot
Standard Power and Light Corpora
lion prcferrcd stock is being made AT
NU = share