Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1925-06-03
NEW YORK MARKET
-. a the Days Dealings In All
ast - Leading Stocks

vort. June 2--(AP)-Reac-
New ,,rice tend encies predominant
tc9 ~ carly part Of today's stock
= INT the demand for stocks
1870 - trading progressed ana
- rsilied briskly from the morn
~. The recovery was aioed by
II. sssiug tendency OF the cali money
vSst sitter lead. rubber ana scrap
~ rrices and the usual crop OF
~ .;Ssnd and merger rumors.
~ financial interest today CEN
80 frWever, in events outside the
s'.s MARKET. These included the
sssIesfion Of the government cotton
4 Innate, showing q condition Of
9x rsrcent Of normal, as compared
~ sSe percent a year ago which
~ scilowed by q break of $3.50 to
!. J. haIa in cotton futures, part of
.ssh wss later recovered; the quick
a1smhscription of the $45.000.000
.sssrtine loan within "a hours after
~ rnccessful offering Of the $30,000,-
! ~ Norwegian issue, and the an
ws..ccanent that a syndicate Of local
ssslsra, headed by J. p. Morgan &
r.rnany. had granted a $50,000,000
ssrsinr credit to italy for use in the
s1hlIization Of exchange.
MAXWELL Motor issues continued to
rouopolize speculative attention in
~ stock market. Maxwell Motors
~ which sold as low as 33 IA ear
- IA the year, scared ten points 10
: record top at 100, despite the an
sauncenoent that the stock exchange
IN started an inquiry into the trad
IS q this issue. The "B" certif1-
ssi1s which represent the stock that
"a 6een deposited under the recap
islIsation plan Jumped 8 81 to
~ "a. The A stock duplicated its
saeurd high of 100 and then dropped
~ points.
s0tker motors were mixed. A brisk
1rf6and developed for Hudson which
Slnnced I points GA new high at
q Nash motors jumped IL points
~ new peak at 436 on a few sales.
indian was heavy, dropping Q IL
16infs to AZ Ia, or within a small
6sotion Of the years low.
strength and activity Of American
en-. which was run up 8 3-8 points
I y III IL featured the trading in the
/ i1ndard industrials. Baldwin rallied
{lllSm low Of 115 IL to 118 and then
I aged point for a small fractional
/ ~ On the day. U. S. Steel common
| tlosed fractionally lower at ia 3-s.
dupont jumped nearly points to q
N PEAK at ia 3-S.
1 Public utilities again presented
aysraI points Of strength, American
Telephone. American Water Works,
1yookiyn Manhattan Transit, Pacific
O. and Electric. and International
1elephone were among the issues In
fkat group to break through their
reviouS 1875 maximums.
General Electric jumped 8 points
b ~ On buying inspired by the an
usuneement Of merger Of upstate
peHer properties In which that CONF
pany was interested. internal COM
bu1tion Engineering also DEVELOPED
outstanding activity and strength BY
moving mp 9-S points to ~.
Marine common and preferred
mix b new low prices for the year
q further selling inspired by the UNI
0vonble 1924 earnings report.
6unIN1ck Bake Collender also
touched . new bottom price at ze.
Heavy tradin gin the St Paul H.
meA and the establishment Of q new
high recprd by Southern Railway at
~ ~. featured the trading In the
slrad ahaxes- ST. Paul common
aosea ffactiona1ly lower at, s ga att
Ealing above 10 when the prefer
e sh9red net gain Of ! "a at
gu money held steady ut 4 per-
on- Tine money and commercial
pRer fates were unchanged,
resumption Of trading in the for
~ exchanges after the Whitsun.
w holiday abroad was<followed by
e establishment of ne wlow records
~ me year by French and Belgian
nancs At 494 and 4.S1 cents, res
psctively.
~ ausn Hra rallied from 1896 to
nW cents on the announcement of
Me Morgan credit. Demand sterling
suled slightly lower around 1885 ga.
= approximately the gold export.
!. AZ apparently Unsuitable demand
- new bonds, reflected in the