Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1924-10-29
scW YORK MARKET
# the Days Dealings in All
fs5sp the Leading Stocks

v.rk Oct. 2S-Stock prices,
M.yed an improved tone in tor
$500 r,arket despite the recurrent
~ in some OF the sugar and
ssashs res. Buying. however. was
Eota ,.ctiye and cautious characters
80 sales only slightly exceed
" IVA states Steel common clos
tnan. .her at 108 LIZ. Total earn
u ~ Sso71s.415 for the third quar-
bp@ public after the market
", 49, ERE somewhat smaller than
cpsea, md failed by a small mar
| 6pe .er the full dividend require
c a. Tor that period. although the
rss s,s Tor the first nine months. at
eDayment Of all dividends. taxes
u, pssrges. Is in excess of $25.000.-
"a ea OCULAR dividend Of $1.25 and
w. e,a Of fifty cents on the COM
% GU IRE declared for the fourth
Gss..,ssl OF speculative interest in
Es.s,.oad shares followed the pub
Es ia n another series of unusual
lsaa.nnorable September earnings
.nts and the announcement
fs,ea srsipht car loadings for the week
~. n1 October IS had established a
tas en- aigh record for all time. Rock
p ,',',a which had the best Septem-
s, I'm IT'S history. advanced about a
N 81 7-8 but was unable to
ps",sin all OF its gain. Lehigh
D1t tchison, Union Pacific, Cam
's"s''p pacific, and Hudson and Man
s sssa preferred. advanced 1 to IL
points. u.,, ,,r,.. continued n
. GOOD demonstration of group
E.e,b Sears Roebuck common
80. ..ed t1s to the highest price in
s s'''. yeara on the announcement that
i lo.' a,rertors would retire the prefer
~. wv s,ock which also advanced 1-2
,~,rts TO new top at 125 1-2. Wool
y r",th climbed more than 2 points to
,sas.s An explanation for the re-
, ~, strength in Manhattan Shirts
20, found In the report that n very
',"atable business was being built up
!" IA side lines, particularly piece
s.ods and drapery material.
higher prices for non-ferrOus met
Al. we're reflected in the strength Of
,msrican Smelling and Refining,
~h,ch sold above 80 for the first time
,nre 1919. The new 1924 highs were
.s,ahlIshed by the Commercial Sol
,snt, issues, Simmons Company.
Maxwell Motors a. and All Am
erica Cables.
Despite the announcement that
uoon Motors had earned its full d.
,aend requirements in the first nine
rontbs. the stock broke to new low
for the year at II IL but rallied lat
A. 10 10 IA. where it was off "a on
ne day. Further liquidation of Vel
bw Cab Manufacturing sent that
,tock down more than 3 points to a
rev low at 80 IL, while Chicago
ysllow Cab sold at 80 IA. Both made
partial recovery.
Weakness of American Sugar Re-
fuing which established n new min
lmum price at 50 IA. was attributed
10 the omission OF the common diVi-
depd on Federal Sugar Refining.
IIeayincss also was noted in Cuban
dominican Sugar. Detroit Edison.
FIcischmann. Union Tank Car and
West Penn Power.
rent s's and "l' then advanced to !. Time
money and commercial paper were
unchanged. The American accep-
lance council advanced the rate on
cali loans secured by acceptances
from TO > Ia per cent. Foreign
exchanges held relatively steady in
quiet trading Demand sterling rul-
Cd around $3.50 and French francs
around So cents. Danish kroner,
which has been heavy lately. re-
bounded Is points to 1870 cents.
Bond prices driftcd aimlessly in
today's dun trading. with early
strength of the railroad issues being
rountcracted later by another run-up
In the call money rate. Banks again
we're cautious In placing funds Tor
Investment and speculative activity
continued to dwindle.
The report of record breaking car
hadnrs for the week ended October
II and the encouraging display OF
September earnings statements slim
uaied buying of rail liens during the
forenoon but the Improvement In
prices appeared to bring out larger
eherings in the later dealings.
New York Ccntrars convertible 6s
we're in demand, advancing at one
time to los. while buying orders also
were effective in st. Paul As of 1928.
New Haven Is and Seaboard adjust
ment IS. Public utility mortgages
generally were higher.
Magma Copper Is rose 1 "a points
and other copper company bonds dis
paved Arm tone in reflection of
higher prices for the red metal. Other
Industrial liens were irregular. AL
though price changes were confined
10 fractions, liberty bonds were firm.
An issue OF Birmingham Water
works IL per cent bonds offered
Yesterday was reported heavily over
subscribed
Total saics wera S11 &c O0O