Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1924-11-20
NEW YORK MARKET
4 the Days Dealings in All
fsssars' me Leading Stocks

vo-t Nov. 19-Stock prices
M~ inward at the opening OF
rdnc.u, market on tremendous vol
~! hssiness and continued to adj
-is 9. Iii noon when they began to
'ssce under the weight of an
csinns, AMOUNT of profit taking
seNmSv "r+ selling, leaving the closing
~ ~. frregularly lower. Iotai sales
I'll I'd. 700 shares we're about Zo.ooo
~ he peak Of the current up
~ ~. established on Nov. IL.
n :, GAINS. which ran from to
@'s ,oints carried more than 100
~ ~ new peak prices for the
500 ;nc,uding three dozen rails,
i4l' advances, however, were sub
Fhesgoiir reduced or cancelled in the
fah. .sadfre, the sharpest decline TAX
y sisee in Radio Corporation. winch
t.T IA points from It's record
W" a. IL established earlier In
g ssason. rallying nearly 2 points
I'm It's low at the close.
~. initial demand lor stock. was
Chit az heavy as any since the
rVva tull movement started. The
gtssa,s in the floating supply. due to
az aroc hlocI.s Of stocks taken out
iae ~ T. market In the last few days.
,s Az It virtually impossible to al
~ ~. o-ders except at substantial
.4rsnces in prices.
,,1ustriaI and spccialtics led the
", sdgancc. establishment Of n
~ iSqt high record by United
80 steel common at l16 7-3. slim
sn.a5 buv.ng Of other popular In
Trials l~,, particularly in the motor
"a merchandising groups. Aneri-
| ,sa can climbed - points to 100
I'D record top for all time. but
aa,sd' hack later to ~ As for a
Xxi fractional gain on the day.
t,Apstria,s Welded more readily in
..i,nn nressure than the rails. New
ION. In that group we're established.
5aseyrr by Sears Roebuck, Mont
.oro.rv. Ward. WoolUUrth, Fl. K.
v"lIirsop, FamoLs Players. Postum
rsreoI Nash Motors. Maxwell "a
ynrth American. Peoples Gas. Lac
.ds Gas Consolidated Gas. 1nterna-
ghral Harvester and many others.
Several independent strong spots
5oye,oned among the rails. Texas and
,gcJGc being boosted four points 10
,acnrd bigh at IL g. and Chicago
crsat Western pre- erred. recording a
4 .,mior gain st 80 ~. Missouri Pa
',fr Jumped FIVE points to 81 7-8 and
| Ka,y" common cl0}cd more than :
points at % "a.
some NJ the sharpcst breaks today
qsre recorded in General Electric.
Fricso common. Mack Truck. United
.,ates Industrial Alcohol, Adams EX-
nr.vs Savage Arms. United States
rast iron Pipe, West Penn Power
and Worthington Pump. net losses in
aelch ranged from to ) points.
Heavy buyig Of Peoples Gas. which
advanced 8 IT. points TO III Ia toi-
ovIpy the announcement that the
ANIMAL dividend rate on the stock
had been increased from 7 to s per-
con, Other outstanding strong
,norg we're American Brake Shoe,
Ea,uk Cigars. Emerson Grant pre-
rerred Nash Motors. L. s. Distribut .
inc preferred and Virginia Iron. Coal
and coke. all Of which closed 3 to 6
points higher.
Cnll loans held steady at . IL per-
cent. The time money market was
slightly easier. sixty TO 80 day funds
lulng at to IL percent as com =
Jared with ~ TO Il earlier In
week Cumme. clal paper rates
N1re unchanged.
Foreign exchanges displayed n tirp
tone with marked gains taking place
in some Of the South American cur
rencies. Demand sterling ruled frac :
tionaly higher around Sl.G3 Ia ana
French francs were quoted lJust I'M
der ! 4 cents.
General profit taking in today's
bond market counteracted fresh buy
ing Of several selected issues ana
prices were shaded slightly from pre-
yious closing levels. Liberty bonds.
however. Which had averaged losses
u o point since the election, rallied
as time fund, were reported more
abundant.
The recent high levels reached by
semi speculative rail issues induced a
Cow Of realizing sales. and fractional
,ecsssions tool; plac Elm New Haven,
Seaboard. ST. Paul. Chicago ~ East
srn Illinois ami Colorado IL Southern
bonds. Chicago and Great Western
Is displayed independent strength,
advancing q point on a heavy turn =
ever
Numerous cross currents marked
Nadlng IN other sections OF the list.
Win prices Of active interest churn-
los about activity but showing sub
'antia| gains Selling was in part
mtuenced by the late reaction in the
Nock market and 10y fears, which
Pre'ed groundless that the federal
NtScrve blank might increase its re-
discount rate.
hcads OF some of the packing COM
Nh'es registered moderate improve
hcht American Agricultural Chem :
@Si and Virginia Carolina Chemical
aehs made further recovery. The lull
N nc" financing continued. but it was
VpoV'ed German Communes might
wN consolidated loan of Sio,00o.0OO
" New York AZ an early date.
Sales S9N,7Ss 200.