Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1924-09-17
NEW YORK MARKET
/ -
q, the Days Dealings IN All
49, .hs Leading Stocks

rork Sept. .5-Stock prices
~ ! fi,m undertone in today's
vhich was again character
ssfks .xtreme dullhess. There. was
~ g:;,red absence, Of public parti-
so gcn with professional traders
tasrtly marking time pending
,7sa'a developments having bear
n the political and economic
s CA Of the few outstanding fea-
V the buoyancy of the bak-
rrs several OF which estab-
- s new peak prices for the year.
SsDeo. Baking was run up II points
~. when profit taking sales ap-
70 ~ IN volume and carried 1t down
yaa cushman climbed nearly 8
~ a. IL. closing near the top
- Wiles Biscuit closed unchang-
~. a. "a after having sold at Il
rlelschmann showed net gain
n noift at 123 Y.
eIcdard industrials. such as
80 states Steel common. Bald
Lnhs. nerican Can. American Sugar
w and Dupont improved frac-
uaily Studebaker crossed so to a
p' I'm during a temporary rally In
=. automotive issues.
w ea mares continued to sag in re-
W H. of unfavorable trade condi-
l Though the losses were held
u0@ @s,ctions. Mexican Seaboard broke
,olnts at the opening but recover
4 ia,er. Reports OF increased tire
brolclit fresh buying into the
pg r. issues. L. S. Rubber COM
Ipps and first preferred closing one
a VA on4 half points higher, respec-
nv .,r while Kelly Springfield. per
49, ~, "breferred, showed a net gain of
w ..,rt NJ So and the common moved
~ 70 II 1-2. A break OF six
ms IN Fisk Rubber first preferred
yn,,,sd In a reduction Of some OF
y. .srly gains in that group. all
tsough Ajax and Goodrich preferred
.,o,ed a point or so higher.
rails showed mixed changes but
...s outnumbcred losses at the
s sioss Gulf. Mobile and Northern
n..t.,red advanced points to new
-. =, n and the common hhowed a
y, raln OF ~ at Is IL while Le-
s,sb Valley. Della ware and Hudson.
Wv York. Ontario and Western and
pr,and preferred closed q point or
nv. higher the last named touch
,.y !. record top of Sc 3-S. The st.
p,u, issues were heavy, the prefer
~ dropping ! IA to 81. Other
rr,ng spots included General Flee
ME western Union. Kelsey Wheel,
american Chiclo, American Ice, Con :
rolspm Union Tank Car and Vir-
enla Railway and Power, up ] IL
10 ! points.
rrnclble steel which was ham
m.rsd down 10 81 on unfavorahle di-
,taspd rImors. later rallied to 81 for
a'ns, gain OF ! Ia.
Money rates showed en- easier tone.
ran money held at per cent. AL
though large sums were available
hslow that figure in the "outside'
market. Offerings Of time funds
we're more abundant and there was
/, tendency among borrowers to re-
ducs bids. Two and three months
ma,urities were quoted at IL To
"a instead of 3-4 to 3 and n
similar reduction was noted in the
longer dates.
raIying tendencies characterized
iarIcn exchange. Demand sterling
mied about a cent higher around
MIG IS and francs rose about
points to around 5.35 cents. South
American exchanges were again
|sshoag with the hest gains recorded
b. Chilean and Argentine pesos.
I ~
rledited both directly and indirectly
10 the resumption Of the treasury
sinking fund operations. impaired a
.rmer tone in today's bond market
approximately half the total transac-
tons Of $4,000. 900 was made mp OF
ales In the L. s Government list.
Although closing prices Of liberty
bonds were generally below the
highest levels of the day. substantial
net gains were recorded by most Is
sues. Trading centercd principal lily
n the second ! As. with good de-
mand also noted for the third and
fourth las.
Scattered selling of certain railroad
md Industrial liens LATE in the day
rave spotty appearance to the dom
.tic corporation list. although n firm
andertone prevailed. Fractiona
l1Sses were recorded by st. Paul
ssahoard Chicago. and Alton. Good
year Tire and Eastern Cuba Sugar
issues
Prospective developments in rail-
mad consultations STRENGTHENED
kFk Island. KATY" Chicago and
Eastern Illinois and International.
HAt Northern OBLIGATIONS. The lat
W roads adjustment SIS reached 9
'ew 1874 top price on reports thai
virtually all objections to its inclus'
m In the Missouri Pacific system
fad been withdrawn.
forelrn bonds were firm with mos'
me French issues displaying mod
,aN Improvement. Total sales wert
MlsS.00o