Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1924-08-12
NEW YORK MARKET
FEATURES Of the Days Dealings in All
~ the Leading Stocks

xey York, Aug. 11-Steady accu-
-giatlon Of the high grade railroad
tsres. eleven Of which Established
- high prices for the year, was
-. outstanding feature OF today's
10y market. Although several
sIn-s OF heaviness developed In
S.ser sections of the list, the market
.snoared to have resumed its up
- trend, bullish demonstrations
20 successfully conducted In a
.1"n1ber OF specialties. particularly
me baking Issues.
rep0rts that the allied and Ger
- experts on reparations had
30, TO an agreement On the Dawes
.egrap1 had bullish effect on SEN
p.oeot and was directly responsibble
t"% the strength OF the foreign ex-
Ranges, demand sterling moving
"a cents 10 new high 1924 at
sts7 a. Trade news was mired
- character. but largely favorable.
setter demand was noted for
.4cl. Dig iron, zinc and copper with
s,1tcatlons Of a stiHening price ten
cencY.
,ent demand for the dividend pay
a.. rail- shares with increased buy
Ink for Dutch and British account.
sferztr rumora also contributed 10
.. strength Of these issues. Jersey
C,offal being the outstanding feat
ere With an extreme gain Of Ii "a
,oir.g over faturday's final quota
,os other issues to break through
f,plr previous high prices for the
wear were Lackawanna. Delaware
ana Hudson, Atlantic Coast Line,
Huntsville and Nashville. Union Pa
eldc common and preferred, New
York Central. Canadian Pacific,
southern Pacific and Omaha. the
gains ranging from one to nearly
z > points,
Nickel Plate closed ] IA points
HIGHER at ia IA, but Erie. Chesa-
ncake and Ohio and Pere Marquette
iost ground. active buying also took
Mace in Baltimore and Ohio. Rock
island st. Paul preferred. Chicago
Norfhwestcrn. Great Northern pre-
ferrod ana Lchigh Valley. the de-
rnand for the western carriers be-
ing Influenced to some extent by
higher car loadings.
standard industrials showed little
re on the day. T.. s. Steel fiuc-
tuated within range of one point.
dosing Ia higher at 107 "a. Bald
win. American Can and Stude baker
showed only fractional changes.
Baking issues made n quick res
ronse TO reports of high earnings.
General Baking soaring Is IL points
10 1870 ., a ne wpeak price, on re-
PORTS that the company had pur-
chased a years supply OF wheat at
the summers low rice. Loose iles
and National Biscuit also bothered
their previous high prices Add
tionnl highe were recorded by Ma
tional Lead. Foundation Company.
Montgomery Ward, Pullman. Wells
fnrEo. American Radiator and
Sl0ss Sheffield steel.
Trading In the oil shares was
rather llstless "a result OF the
omission of dividends by two Stan
dard oil units and another cut in
Gulf Coast crude prices Sugars
responded TO predictions OF high
commodity prices.
Call money ruled unchanged At
. percent Time money was sliRtly
easter with ninety dayfunds avail
able az > = percent for the first
time -Four months maturities were
quoted At = -. the longer terms
running as high as II. CONNER
cial paper rates developed a wide
range with some exceptionally
strong names discountinR as low as
percent
All European exchanges improved
In sympathy with sterling. French
francs sold rs high as SO cents and
Dutch guidcrS touched new high
at - l. cents
Activity OF foreign obligations pro-
vided the principal feature of In
tercst IN tndaN's moderately active
hond market News that the allied
and German experts attached to the
ropnrations conference had reached