Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1925-10-01
Few YORK MARKET
1 8 The Days Dealings in All
res ~. + Leading Stocks

al t1e bSsNe
Ill vork. sept. 30.--(AP.?-The
I'M iv nrst today succumbed to
mal .,rs efforts of high money
sp pnd prices reacted sharply ply
anu If standard industrial
dal,or sed in volume through
me- I.n and although some buy.
ne oss onpeared In the f1nal
!, a ae;orts to bring about a general
\ we. we're unsuccessful. t.
h /. tendency of large banking IN a..
.. - draw in their loans for
ions october first interest and
! 0 "a requirements and In eXpec-
GNena and early bank call re-
Y ! =, ~ the marking up of the re-
\ : - aa,e on call funds to 0 IL
~ l"' The highest since early in
aeai' six per cent. While this
~ was not considered unusual
!. lon ~ seasonal developments,
\ ies .;ct;ve influence was readily
&rent when an Initial
was checked.
I ,,tious commission house ad-
4 u eTered little incentive for the
! sion Of buying activities: with
S. ~ them recommending a
u aotion OF speculative lines, a
If selling struck many of the
VI ,.;,oe among which the
= nriced motors and speciaities
The hardest hit. Pool opera
j roye to check the reaction by
I'M forth new leaders but each
arsrv recovery seemed to in
> fresh flow of offerings.
rIy constructive efforts center
the baking, rubber, oil, equip
and shipping shares, about
Nv Of which reached new high
{ for the year before the down.
IA drift set in. Meanwhile vigor-
fselling broke out in other in
rails and rails, with prices
(,bling away rapidly when money
were boosted in the early af-
Don.
contrast to its recent move
IS L. S. steel showed greater
ility that other market leaders,
landing with a moderate gain to
cheerful predictions of the week
rade reviews. American Can.
ever. slurlped about 4 points be-
last nights close and net losses
to 6 points were recorded by
eral Electric, Chrysler, Dupont,
Twin. Mack Trucks, American
bcco. Sears Roebuck, U. S. Cast
Pipe and Union Bag and Pa
ktreme fluctuations were con-
Eably wider, reaching such pro-
ions at one time that many stop
orders were uncovered. Baking
es maintained their gains fairly
General Baking and Ward
Icing bolstered up by indications
merger plans involving these
|panies will soon be announced.
ubber company stocks consist
followed an upward course I'M
/ the leadership of U. S. Rubber,
drich and the Fisk issues. Buy
of Fisk first preferred was slim
led by reports that arrangements
lid be made soon to pay off some
Ter cent in back dividends on this
everal sharp gains were scored I'm
final upturn by specialties which
: not hitherto figured prominent
p Speculative operations. National
Killers Products preferred was
bed UP s points and New York
1ers Z points, both to new top
les for the year. American Inter-
onal moved up 3 5-S.
oreign exchanges were steady in
ft trading. Demand sterling con-
led to hover around the theoreti-
| gold export point, at one time
ing below $4.S4, but later recover
Belgian francs moved up Six
hts to 4.4o on reports that new
! for the stablization of Belgium S
hetary system would be arranged
pre- the end of the year. The
Phdinavian currencies made fur
i gains.
4 line with the tigheter call mon
Situation, time loans held firm at
h to 3-4 percent. Commercial
er rates were unchanged.
|nable TO attract investment
ps or provide sufficient funds for
curative operations the bond mar
continued to pursue a downward
d today. Tighter call money
pnions. while not directly induc-
any open liquidation of bonds,
fuvely lessened buying interest.
Flee movements mainly were mar
and insignificant, representing
|eiy the normal trading concess-
Foreign obligations were fair
leady Buying of South Ameri-
issues included Argentine SIS
Sac Paulo SIS, while a moderate
Pnee IN Belgian bonds was asso-
Ea With reports that new loan
10 be floated for that country
IRE the end of the year. Next
securities marked time pending
opening of informal conferences
Wexicos external debt.
Re only strong spots in the do
Pic list were Sinclair SlxAJIy and