Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1924-09-06
xEW YORK MARKET
-. Of the Days Dealings in Al
the Leading Stocks

York. Sept. Stock prices
-" .harpiy in today's MARKET, net
80 running from / to 4 points In
Mnber of popular industrial iss-
'aTsck of effective buying sup.
~ sriyed discussions among mar
r. .sseryers as to neither the re-
,eaction represents the culmi-
g.. II bull market which began
IN June, or a temporary set
aln !" correct a weakened technical
~ sntIoa. Each theary found plenty
! . : '.ss'sssrspts.
.@.dcan Wooden, whose sensa-
~ decline featured yesterdays
I'D .s,.iau, was again under severe pres
- ,oday. The first sale was a
~ of $500 Fares at the spread
as. .,,p" price of 5s-57. 1t rallied
g-t point higher on short cover
~ roke to "a 3-S. the lowest price
". ,1lo. and closed at s. 1-8.
6. steel common dropped one
y. "a 1916 IA, Baldwin showed a
p.s. points at 40 IA and Am
sssn Ca, was down 3 Is at 1875 1-2.
se.,~1shaker duplicated its recent. high
: "a and then slipped to 80 1-2, Off
~ h,ar raid against Famous Play
., nred!cated on the fact that the
..g.year's dividends were only earn
aby A small margin. forced that
s,rt down to "a IL, but 1t rallied
h,sr 10 rs, where it was off 3 IL
,,s,s on the day. Net losses Of to
..s.ly 3 points we're registered by
.s,s than score OF other issues, in
Iedjng Anaconda. Dupont. General
Uric. KresGe Department Stores,
g,yyell Motors a., l.. :. Cast Iron
ps1 L. &. Industrial Alcohol, L. s.
s@slAr common and first preferred,
IN. Chalmers. Dawson Chemical,
SIl states steel, Schloss- Sheffield,
4as Roehuck. yellow Cab. Nash
vgors and Chandler Motors. the last
,,ntd touching a new low at 80 1-s
A unfayorablc dividend develop
nsa;s.
oils slowed splendid resistance TO
.,Nng pressure in reflection Of the
t,rttsr Improvement in the crude Oil
stpa.lon. Pacific Oil closed n point
sIaht, at Il So. and Standard Oil of
ysr Jcrsey, Maryland. California
pe.roeum and Phillips Petroleum
hr-ryed fra"t!onally.
Railroad SHARES developed several
nints Of strength although a major
ey NJ issues in that group showed de-
dimes on the day. Further accumu-
hton Of Lackaw wanna sent that
rock up TO 1q3 IA, the highest since
h. declaration of Il 100 percent divi-
5srd on August -. 1921. Profit TAX
M. however, carried it down to 140
md Ia at the close. Nickel Plate"
common sold ut n new high peak
wlce Of 12l and then saSgcd to III
md a. Tho preferred touched a
ar top NJ 9oa3 IS hut later dropped
:tolt points. Strength of Lacka-
rrnna was attributed in some quar-
f-5 n reports that it was to he TAX
n mo the new Nickel Plate" mer-
q" and in others to a possible dis
fou,ion Of the $50 600 900 Glen AL
1tn Coal Conf any bonds in it's treas
IT,
Call none opened at . 10 per
rent ard then dropped to >. Time
money was what firmer with
ainstY DAY loans apparently cstab-
lkhed on > per cent basis and the
to q months maturities at > II.
Commercial paner rates were I'M
changed on Z fairlv large turnover.
Foreign exchange rates were again
I'Sctionary IN reflection Of the pres
ints Of grain and cotton bills and
the unfayorabe construction placed
upoa some OF the recent develop
ment at Geneva. Demand sterling
ruled about cent lower at Si.34.
md French francs were quoted just
above IL cents.
Renewed hUrinC of railroad liens
Impaired p ilrmer tone to today's
roma market Trading. however.
continued dun IN most sections OF
ne list with better undertone
naAiliseed in the United States and
me io'eirn GOV crnment groups.
lo'Hi action UNFOLDING the Dem
"' and EioI Grande western rail-
Ieads reoi ganization plan promoted
.'ule buying of tho company's
Nlds, which advanced more than =
to''i'S' Other railroad issues which
sertd substantial gains included
aock Island 1 1-"s. Pennsylvania
general 4 IS. Rio Grande Western
~ Chicago ard Eastern Illinois Js.
a, mon Pacific ~. International Great
Netlhern adjustment Is and North
''7 Faciiie Is. Buying OF the west
va rail- bonds WAS influenced by re-
fer'S OF heavy grain loadings.
a. Parl Railroad obligations.
Ae~eser' were subjected to renewed
su'hs pressure. active issues devlin-
ny point or more.
rice movements in industrials
.aa public utility liens were ex-
uemetN narrow and irregular. Will
s s Issues recovered further but
Sssma Copper IS yielded to profit
a,d hteady subscription OF the 500
.."" canadian Railways bond is