Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1924-05-20
FINANCIAL NEWS W
NEW YORK MARKET
features OF the Days Dealings In All
the Leading Stocks

:
New York. May 1S-Irao1ng - to-
days stock market was practically ct
a standstill awaiting the outcome OF
the senate's action on the prestden-
tial veto Of the bonus bill, which be-
come known about half an hour after
the market closed. Totai sales. which
Appropriated 4oV'ooO snares. were the
smallest OF any 1u!i Gay session since
last August
Keacaon ~ go ~. e ~ - ~
session as Dear Araoefs singled out
weak Spots IN Inc motor accessory
copper. te1tne LII ssatner snares.
several OF wn,cn es.aoiigneo new low
prices ZOE Lne ye. ces EalHeo
brfskly just Dclore ZIG SAosS On pupu.
cation OF Reports mat INC aulioie I'll
Company had restored the pr1ce OF
mid-continent cruoe 70 the quota
tons IN enect prior 70 the recent 70
percent cut ana 1nat the directors
Ut the New Orleans, IeAAs ana Mex
leo Railway were meeuns mere ZOE
special divioeno acIon. Announce-
ment OF q speciai OF loh casn oiv1-
dend by the 1uli coast nnes was
made after the inarket closeo.
Practically all OF tue standard m
dustrial snares closed hlener on tne
day American Ian ana baioWa0
moved up more tnan point WINE
United states eteei common, United
States industrial AlconoI anu SIuoe-
baker improved iraclionaAy. :.
Mariana ana fhIinps, Wnicn nao
been heavy IN inc early part OK tne
sessions led the late raily IN the on
group. each Closing ABOUT point
higher.
Copper shares continued reacton-
airy in sympathy with the declining
metal market Anaconda touchine
29%, the lowest price since 1919 ana
then rallying 10 2SB, or sngntiy
above Saturdays close.
Stewart-Warner was hammered
hammered down TO new 1874 low
at 54a and then snapped back 70 o1A
for net gain OF 4. Timken Roler
Bearing touched new bottom at
311a and the nrailleo 10 oIM' Wniie
Stromberg Carburetor raIiled from
Is to 57A, where II was sui IA
points below last weeks maj price.
There were q rev outstanding
strong spots IN the industrial group
notably General Electric. Du roht'
American Linseed, GuII STATES steel
Otis Elevator, kresge, Wlils-OVer-
land preferred ana west rem power
up l1s to polnts.
Chief interest In the railroad group
centered IN new Oriean. Iexas anu
Mexico, Whlch estapilsneo ne" i7.1
high at 10 ana then dropped pack 10
l1Sh. Other rails neio Feiauveiy urn;
Can money helo at peroent a.
day. Inc time money anu coilIn .a, 1lai
paper markets. were quiet Win ao
cnanSe III rates.
french francs proke doouI 20 polnts
just uhder o9 oehls AZ
win inc reac.ioi 'iidt eooh p,".o -"
the LONDON Iliarket Detoio IVA
ers started; beisian tiaHcS iosI aoo es
IL points, peins qquu.eu asouhu ~.
cents ana ueilanu see.nhs u.oppsu
OF a cent 10 S4."o. otner rates SNOW
ed niue cfanSe III qYuiee lrau'ns.
speculative iears that .ne seha.e
would oVer-ride tne pres,oeht se.o
OF the ponus plli linpar.eu n ,rs.
tone 10 poiiu prices tooay' iaus
was extremely quiet peHuins .he ou.-
come OF the Fote, "nicli uiu n.y. u"
come known until utter 'ne cio'o -
'he market. .,u
buyiiis Vi 'ne soveluInem' oo
tionS fiSse" '.'lous',ou. t"e oeosIo'
ana investment purI,iasins was III
contracted prlnclpaliy on railroad