Daily Kennebec journal., 1925-06-26
Financial
NEW YORK MARKET
Features Of the Days Dealings in All
the Leading Stocks

New York, June 25-(AP)-Stock
prices moved steadily upward today
despite the marking up of the call
money rate from Ia to s percent.
Specially movements featured the
day'strading, which ran just over one
million shares.
Pools were again active, particu-
larly in the tobacco, public utility
and motor issues. More than a score
stocks were lifted to new high levels
for the year, the list including At
lantic Gulf and West Indies common
and preferred, United Cigar Stores,
Tobacco Products, Simmonds Com
pany, General Motors 10 preferred,
Yellow Cab Manufacturing, Hudson
and Manhattan common and pre-
ferred, Pittsburgh Utilities preferred,
United Railways Investment pre-
ferred, Federal Light and Traction,
MacKay Companies, American Type
Founders and Texas Gulf Sulphur.
American Can made the best show
Ing among the So called standard in
dustrials, closing, 5-8 higher at 1856
3-s, after haying sold point above
that figure.
Baldwin showed a fractional gain
at Ill and U. S. Steel common re-
ceded 5-8 to 184 ga. American Can
and Foundry, American Ice, Ameri-
can Smelling, Fleishmann, National
Biscuit, U. S. Cast Iron Pipe and
Woolworth all closed point or so
higher.
Lehigh Valley was one Of the out
standing strong spots of the rail
group, showing an extreme gain OF
more than 8 points at 81 7-S on pub
ication Of the May earnings report
shown net operating income of ST.
541, $40 as compared with $901,9S2 In
the corresponding month of last year.
Steady buying of the northwestern
rails, particularly Chicago and
Northwestern, was in expectation OF
a favorable decision by the interstate
commerce commission OF the applica-
tion for an increase in freight rates
In that territory.
Barret Leather jumped six points
to Al on rumors that the preferred
stock will be retired this year.
Strength of Texas Gulf Sulphur was
associated with the listing on the
curb market Of the shares Of the
Newmont Mining Corporation, which
owns over $4,000 shares Of Texas
Gulf Sulphur stock. Revival Of spec
ulative interest in the Pierce Arrow
isues was followed by a two point
gain in the common stock at 80 ga
and jump Of 10 IL points to 165 by
the prior preferred.
Oils showed q flrmer tendency on
publication OF the weekly report of
the American Petroleum Institute.
showing another large decrease in
the daily average of gross crude oil
production for the week ended June
20.
Burns Brother issues broke about
B points each on the announcement
that the former officers Of that COM
pany had formed a new coal con-
Germ. Heaviness also was shown by
Division Chemical General Refrac-
tories, Interborolgh Rapid Transit,
International Agricultural Chemical,
Air Line preferred and United Rail-
ways Investment, all of one to two
points.
Marking up of the call money rate
from 4 IA to 5 percent the highest
rate in nearly three months was at
tributed to the heavy demand for
funds in connection with July first
dividend and interest payments.
ITime money and commercial paper
rates were unchanged.
| Reactionary tendencies predomin-
eted in the foreign exchange market.
Remapd sterling .. held firm around