Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1924-11-04
! new YORK MARKET
..,-.s AZ the Days Dealings in Al
fsA'S the Leading Stocks

-, York. Nov. <3.-Mixed price
Nrents took place In today'st
ms,s market with trading featured /
aoo .ss extensive prediction even |
BY -. m commitments by profess |
iaHu onerators. Standard rails and i
sioha. r,ais displayed a firm UNDER
inoo' whiIe a number of gpectalttes.
ton. .;,.,,larly In the food group. were
ps m briskIy on what appeared to
D." ,,,ytne for the account OF pools.
be pn, was o. marked absence Of
~ news during the day. Marking
- the call money rate from LIZ
Up % ,srcent was generally regarded
~ ",.tdental TO the heavy transfer
frnds around the first of the
% ~ ard was not much of a mar
Es Nv, two score stocks attained
neak prices for the year, in
~" ,n. Maxwell Motors "A" and
a .!.a I;nj,ed States Distributing
~ .con and preferred, u. y. Cast
fo '., plne, Commercial Solvents 3D."
j ro. cereal. Loose -Wiles Biscuit
i "Sor Radiator, Savage Arms,
a',.n.aonoery- Ward, Baldwin prefer
W. brooklyn Manhattan Transit
Isa a,o,red and International Nickel
pIetorred Daniel Boone Wooden
IN and Otis steel broke through
,,nir previous years lows.
'H, paiproad shares moved within mar
Tance although good buying was
',.n,sted In Union Pacific. Atchison,
t nl"o, Northern preferred. Rock Is
Ind and some Of the other western
'"n Missouri Pacific issues
,1a,tsa slightly despite the an
s,,ncement that October traffic was
tSe largest OF any month in the
,oad's history.
I.ni,ed States Steel common nuc-
,,a,ed within 81 range of three-quar-
,srs of one point. closing 1-S higher
y, i'm RS. American Can showed
rtt gain Of 5.S at 1877 5-S. while
,,,ydwin closed IL lower at 121. u.
. Cas, Iron Pipe was run up to a
I'D ton at 122 rs at the expense
an oyercrowded short interest and
ken eased to 121 IL, where 1t was
IN "a on the day.
nulllsh demonstrations were sue
,ogpfully conducted in a number OF
localities, including international
harvester, Allis Chalmers. III. X.
Wailnson and Iron Products. the net
yolng ranging from l to IL points.
Tbere were n few outstanding soft
soots Utah Copper dropped nearly
:" nnints on a few sales and Railway
S,ecl Spring broke q "a. Net losses
ITO points also were registered
~, American Car and Foundry,
tner,cau Tobacco 3D." Associated
nrv Goods, Fisher Body. Houston
ojl Manhattan Electrical Supply and
Submarine Boat.
THE time money market was quiet
with GO and 30 day loans quoted at
"A to 3 instead Of 2 IL to 3, the
prevailing rate last week. with 4 to
months maturities quoted at 3 to
40 instead OF 3 IA to IL. No
rrn,anation was forthcoming for the
.tiiYening of the near dates ana the
casing OF the longer maturities.
Foreign exchange rates. which have
bsen advancing stedily for about a
week. turned slightly reactionary to-
day. Demand sterling ruled about
5.S OF n cent lower around $453 3-f
and French francs dropped points
10 62i cents.
With fIrmer money rates prevailing
the bond market today developed an
easier tendency although price
changes gradually were held within
narrow limits election influence
dulled the edge Of trading.
Colncidcnt with the extension or a
100000 loan to the city OF Berlin.
demand for the new German bonds
Improved and the price moved NJ
fractonnlly. at one time going TO
"a Ia. Before the expiration OF the
Berlin loan, which Is to run for one
year. Il In understood that longer
term financing. totalling $25,OO0.O00
viii he arranged. Negotiations are
expected to ho closed shortly for
s?0,OOoo0 advance to the city of
Hamburg.
Higher money rates promoted some
unloading OF Liberty bonds. Oner-
ings of the fourth 8 1-2's were es-
pscially heavy but were well absorbed
and the closing quotation represented
'cnlv trifing net loss.
Trading In corporation bonds was
marked by considerable irregularity.
Railroad issues showed little change
and Virginia Carolina Chemical liens
were about the only weak spots In
The Industrial list. Denver Gas and
Electric Rounding IS. which ad-
vanced Ia points. were the main
feature among public utility bonds.
The present lull in new financing
is expected to continue until day
or two after election