Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1924-09-27
SUNDAYS GAMES
St. Louis at Cleveland.
Detroit at Chicago.
NEW YORK MARKET
Features Of the Days Dealings in All
the Leading Stocks

New York, Sept. 26-Stock prices
displayed a firm undertono in to-
days irregular market which was
featured by bullish demonstrations
in few public utilities, rails and
industrial specialties. Trading in
standard industrials was quiet with
a tendency to heaviness in the late
dealings.
Lehigh Valley led the upward
movement in the railroad shares, ris-
ing 3 points to 81, the highest price
since the segregation of the coal
properties. Frisco issues sold at the
highest prices since the reorganiza-
ton of the company in 1916 on re-
ports of an early inauguration of div
idends on the preferred which rose
3 ga points to IS while the common
closed 3-S higher at 80 rs.
United States Steel common fail
ed to respond to reports of an in
crease in operations from so to 65
percent of capacity. closing unchang
ed at 10S IL. Independent Steel
yielded to professional selling. Re
PUBLIC dropping more than point
and most Of the others yielding frac-
tionally.
Nash motors jumped 6 IL points
sales. Other motors moved within
narrow and irregular limits. Stew
art Warner advanced more than >
points to So 3-S and then cased to
81 1-2. Tier stocks made a moderate
response to reports of improved trade
conditions.
Heavy accumulation of United
State Cast Iron Pipe sent that stock
from 10S IL to liz IL but it eased
later to Ill Ia where it was up 5-8
OH the day. The four point rise in
Brooklyn Union was said to forecast
split-up of the print shares and a
larger dividend disbursement Am
erican Hide and Leather preferred
was bought in large blocks. selling
as high as 66 IL but reacting later
to SIS 3-s. up as.
Other individual strong points in
cluded International Combustion En-
cheering. Wortlinston Pump. Con-
solidated Gas of Baltimore. Associ-
ated Dry. Goods. Detroit Edison,
Foundation Company. Laclede Gas.
Pacific Gas. Park and Tilford. Rem
ington Typewriter and Union Tank
Car. up one to four points. General
Baking was run UP "a to 157 and
then fell back to 1913.
Cosden Oil was again under press
ure. dropping ! l-2 points to % 1-2
and then rallying feebly. Burns
Prothers IA. Congoleum, National
Enameling. Standard Plate Co.. Mack
Trucks and United Railways invest
ment issues were heavy.
Call money ruled unchanged at
two percent. Time money and COM
paper rates held steady with
business quiet.
Foreign exchange rates showed
little change. Demand sterling was
quoted around SAT- and French
francs were moderately active just
above Lac. Swiss francs touched
a new high at 13.04c.
Bond prices moved to higher
ground today under the leadership
Of United States trea sury. European
government and domestic railroad
obligations, several Of which scaled
new peaks for the year. Trading
was moderatively active.
The reported presence OF ]. p.
Morgan in London, .foreshadowing an
early conclusion of the German loan
negotiations, provided tie incentive
for further buying of foreign issues.
Belgian Z LIS reached a new 1924
high level at Ill. French and other
continental bonds were firm. Frisco
bonds were unusually active on re-
ports that dividends soon would be
inaugursted on the preferred stock.
New 1924 high records were achiev-
ed by several Of the Denver and Rio
Grande mortgages.
Profit taking interrupted the ad-
vance in Brooklyn Union Gas rs
which had carried these bonds to
the years top prices. Offerings of
large blocks caused recessions of
several points in these issues. Sell
ing Of various oil and copper bonds
save the Industrial list an irregular
aDDenr4 nca.