Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1924-12-03
NEW YORK MARKET
-. 81 the Days Dealings in All
fta'' the Leading Stoeks

- down perceptioly today with
~. moving upward during the
r.,,rg. falling back In the early
s.-noon and then bounding upward
-, at the close. The average Of
.s.rty leading industrial shares was
.h.nsed on the day but the aver
:. of, twenty leading railroads all
~ "a about two fifths Of point to
san h,ehest level in several years.
Thirty five issues, including seven
ais and seven public utilities. at
Lined new peak prices for the year.
~ list included Atchison, Balti-
~ and Ohio, Common and pre-
h% si the Erie preferred issues, Wa
s en- preferred az. Katy. common,
ps.a and Manhattan. Mathiesen
n s,ssN common and preferred. ma
49, 49, omrnon and preferred, Ameri-
ii.Sr Express (new). Famous Players,
nn Water Works (old ami
A .w stocks) and Allis Chalmers pre-
erred. .oa "a. r... ,o.,
-. hnnght. rising more than 3 points
IL. Erie first preferred adj
w,ced more than points to As IA
va baltimore and Ohio closed near
- az. . noInts higher OF IS. Buying Of
.s;,s was stimulated by publica-
..or n statistics showing that freight
,'.d,nos for the week ended Novem-
o. again exceeded a. million cars.
'..,,emont OF the southern Pacific
( IS dIspute and reports of high
.urrent earnings.
Tho recent improvement in rail-
IA earnings has led to a heavy de-
10, for new equipment, which ac-
",a for the public offering of
sSc o0o shares Of Syr1ington Com
nany class "A" stock Mt $3.50
p y the proceeds of which will be
nsed to take care Of expanded bust
ness. . a.,
,,a.ed between 11G and III IA, clos
inc at 1Is IA for n net gain of II.
p,Idwin and American Can also
! sIosed fractionallv higher. There, was
heavy demand for the oils just be-
fore the close.
I prrc oil was bid up to new high
ian At os 5-S on the report that Hen
80 Dawes will resign as comptroller
% the currency to assume the presi-
dsncy OF the company. Fan Ameri-
an n closed about q point higher at
49, on the report that the com
nsny had concluded several impor-
tant contracts.
There we're several strong spots
+, tho spccal list. United States
reatyl was run up seven points to
new ton at 129 IA and then eased
N 1877 a. and the preferred closed 4
nolr.s higher at 1913. American To
b.cco and the "B" stock. American
Water works International Harves-
tar Mathicson hlkali preferred
Union Tank Car and Westinghouse
AIR Brake closed ut net gains of to
sl.c points. The weak spots in
GUIDED Associated Dry Goods, jersey
central Fleischmann Company, Ma
tlonaI Distributing preferred. Ma
,iona Lea,l. Owens Bottle. Strom-
herg carhuretor and United Fruit on
~. i-2 points. Pittsburgh and
West Virginia, which dropped 5 5-S
and General Baking which broke 8
IL points.
Can loans renewed at per cent
and thfI advanced TO 3 IL. Time
money anil commercial paper rates
remain firm with business In mod
crate volume Acceptance rates
again stiflened asking rates ranging
from S-s per cent for 30 days to :
81 for 12o.
Foreign exchange displayed firm
tone Demand sterling ruled about
cent higher around Si.64 "a and
French francs sold Just under II
cents Other European rates showed
nominal changes.
Bond prices again wavered today
although tho market was dotted with
Individual points OF strength. High
Welding rail bonds were the center
Of attraction. although their popu-
hrity was shared by the traction is
sizes outside these groups price
changes were narrow and insignifi-
cant
Katy adjustment SIS continued to
keep pace with the rise in the roads
stocks, advancing more than a point
to record high price. Frisco in
come SIS and International Great
Northern adjustment 6's reached new
hlsh levels for the year while bonds
OF the local transportation companies
responded Ia prospects that the OPP
Grating situation would he improved
asa result OF the official investiEa-
tons now under way. InterborouSh
btooklyn Manhattan transit and
New York railways liens advanced
slartly. some of them selling at new
peak prices for the year.
Announcement of the United states
ueasury's 500, 600 long term H.
hanctng came too late to affect the
market for the governments obliga-
uons The response of some of the
arIy maturing issues. which can he
USED In payment for the new per-
cent bonds. probably will he shown In
omcrrcws price movements. Invest
ment circles were interested in the
announcement that bids would he
owned ON .lannnrN for 81 600 900