Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1924-09-03
NEW YORK MARKET
,.. AZ The Days Dealings IN All
Fs''th the Leading Stocks

.~ York, Sept. stock prices
s.red in today's relatively dull
f.in, closing quotations showing a
-'e',s mixture Of gains and losses.
r,nsning prices were strong az
~. N a fairly large accumulation
!y'sSk- end buying orders. prompted
~ pro9ress being made In put
" ,he Dawes plan into effect and
,.'.s.ssing Indications Of revival in
Ihs When these orders had been
un.t'.st the market turned duh. in
a resumption Of profit taking
mort selling. AT offerings we're
A" 'a sbaorbed and the market stiff
E..,d after midday, only TO run Off
.gsin at the close.
os. o, the most interesting fea-
.,.,,y NJ the session wos the advance
: ,se call money rate. which had
,to1 unchanged at two per cent
-. yuiy +. 10 . IL and thence to
,sr cent. where IL closed. The in
I'm wag generally attributed TO
A.. ssay., first Of the month require
-,,ts Dreparations for the govern
'.,,,'. billion dollar turnover Sep
..r-bcr - and the flow OF funds TO
,.n interior Tor crop moving purpos-
y. Time m0n~y rates also stiffened
.i1rstly 90 10 80 day loans on mixed
<@fj,te-aj being quoted at 2 "a to 3
,-,.taf n 2 - 70 ? and the four TO
s~ n0rtha maturlties ruling at ;
tn: IL instead Of 3 TO 3 I-2.
c.amerclal Paper rates were I'M
tsanred
u6s, n the standard industrials
,.rred POSSESSIONS and the close. l..
2 9,e.l common. which had touched
10 H. closed al 100 3-s. off 3-8.
,eN.iean can broke from 1875 IL TO
20 e and then n llied a point. show
,~r , net loss of Ia. baldwin clos
,dt IL lover f23 "a after having
,,d NJ high as i25 7-s.
spIri,rd demand for number Of
80 motors and motor accessories
p.x in evidence Just before tho
c,ose. Nash Motors was run up I
=, polnts 10 n new 1924 high at
IA IL and Studcbaker touched n
n.v ,op at 20 81 Stromberg Car
btretor sonred four points 10 II.
s,ayart Warner Speedorneter cosed
IL higher At 81 IL and American
po,en Magnetic showed n net gain Of
~ a. 20 1-2. Earlier in tho day
The Maxwell Motor issues touched
o.w peak prices but later forfeited
their gains.
The rails showed more strength
than tho industrials. with Frisco
common. Missouri Pacific preferred
and Katy common selling Mt new
tIgh prices FOR the year. Lackawan-
m crossed i33 and then fell back to
l1- IT, up -. while Erie first and
second preferred Delaware and Hud-
.on. louisville and Nashville and
pero Marquette closed n point or
moro above Saturdays fnal quota
tons
Good buying also was noted dur
ng tho day in Brooklyn Union Gas.
North American. Manhattan Guar
p0'ssi certificates, Postum Cereai.
rIeIsrhmnnn. Foundation Company
and Texas Gulf sulphur. all Of which
frckc through their previous high
levels.
with few exceptions. net losses
were held to point or less. some
n tho conspicuous heavy shots be-
Ing General Electric, American To-
hacro %" Colorado Fuel and y. s.
cast Iron Pipe,
french francs were quoted about l
- points higher at 54t IL cents
and demand sterling eased about "a
n cent to stis Is.
Bond trading turned dull today af-
Tor IN early upturn had been check
81 by the psychological effect OF n
tlsr In tho call money rate to pcr
cont for tho first time On two
months
Announcement that Germany had
nada tho first payment OF 20,0Oo.0oO
marks under the Dawes plan stimu-
lated activity In French. Austrian
sGd other European issues in the
sally dealings. Government bonds
held their gains fairly we'll, but
p-ees of some Of the French munich
pal issues later saggod.
Operation OF the ". s. Govern
men's sinking fund provisions fca-
'urto trading IN Liberty bonds. Pur-
chasing was hoS,n last week for tho
fret time In the current fiscal year
after thotrea surv had been kept out
n tho market hv prevailing high
prices. BIDS today. however. were
considerably below tho market and