Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1925-05-09

checked temporarily today by a
heavy volume of profit taking sales.
Net recessions, as a rule, were limit
ed to fractions. Trading was in re-
duced volume, the days sales falling
below one and three quarter million
shares. fe..
Revival of public interest in the
motor issues, based on reports of
high current earnings, was one of
the days features. WHY'S overland
common moved up more than two
points to new high record for the
year at 81 IL on total sales we'll in
excess of 100000 shares and the pre-
ferred touched a new top at 70 IL.
Packard, Hudson and Continental
Motors also attained new peak prices
while the Pierce-Arro issues and
Jordan sold two to 5 points higher.
Bullish demonstrations in the pub
lie utilities were on a smaller scale
although Montana Power, West
Pennsylvania Power, Columbia Gas
& Electric, Brooklyn Union Gas, Am
erican Water Works, ittsburgh Util-
tiles preferred, all established new
1925 high price, the extreme gains
running as high as five points.
Further accumulation of the low
priced railroads resulted in new
maximum prices being recorded in
Ann Arbor common and preferred,
Seaboard Air Line and Gulf Mobile
and Northern. Rock Island showed
net gain of more than two points
at 43 l-2 and Union Pacific closed a
point higher at 1873. Southern Rail-
way turned slightly reactionary on
President Harris statement that the
question of increasing the dividend
l,aI nd
OF be util the preferred stockholders
suit was disposed of.
Oils displayed q tirmer udertone
on the announcement of an increase
in Smackever crude prices. Revival
I of speculative itereSt in Continental
Oil, which closed nearly point
higher at Ia, in apparent reflection
OF q marked improvement in the
| Companys financial position. was
one of the features of that group.
Steels turned reactionary in anti
cipation of a poor April tonnage re-
/ port of the United States Steel Cor
pcration, which will be issued at noon
tomorrow. Chairman Gary estimat-
ed that it would show a drop of be-
+, tween 800, 900 and 100000 tons in un-
filed orders. u. S. Steel common
closed SIS lower at lis Is. Cruel
! BILE dropped point to 6S 3-4 and
Republic fell back l II to 43 IA.
u. S. Rubber issues responded to a
further raising of crude rubber pric-
es, the preferred crossing rs to a
new high price for the year and the
! common showing "a gain of l SIS at
! 45 3-S. American Sumatra preferred
scared nearly II points to 81 IL on
a retreat of the short interest which
was built up as a result of the re-
! cent receivership proceedings against
| the company, the stock later slipping
| back to Al.
Call money renewed at 3 "a per-
cent and then dropped to IL. The
time money and commercial paper
! n arkets were Unchanged.
! The feature of the foreign eT-
| change market was a jump or 10
| points to 1890 cents in Norwegian
| kroner. Other European rates were
! irregular, demand sterling ruling
slightly lower around $4.S4 IL
while French francs were about 2
points higher around 5.21 IL cents.
Bond prices logged ahead at a
somewhat slackened pace but new
| high levels were established in most
sections of the market. Public
! utility liens We'd with .the rails for
| leadership of the advanced and gains,
| of to points were scattered among
the representative issues in these
| groups.
| The revival of interest in standard
| investment railroad obligations was
measured by / point advance in
! Atchison general IS, which crossed
92 for the first time this year. Mod
crate gains also We're recorded by