Daily Kennebec journal., 1925-08-26
NEW YORK MARKET
....... AZ ths Days Dealings In All
Fesss che Leading Stocks


M York. Aug. 25.-(AP)-stock
80 - moved irregularly today in .
p.srst that was featured by wild
ps.sulstion in q few motor stocks and
Spsssities. Chrysler was the spectac-
rsrformer, soaring 20 points to a
~ s,rh record price at las on what
pe~ ~idAly characterized as urgent
W. ..s,.s nv 4 trapped short interest.
1a!- -sAnrasented gain Of nearly 80
1ny -. a two days. White Motors
pol,0,.IS p.,,sS over six points to 1929 and then
..ssd to 101l.
1890 Of profit taking and bear SELL
.rnarently inspired by stiffening
ms. .v rates and growing uneasiness
mss.stors mO..s over recent fluctuations in
= INV issues, swept over the market at
.I...rvsls Is throughout the day but they
NJ ~. eenerally well absorbed and fall
= stem the rising tide of prices.
sru,ss.nread = gasoline price cuts in the
~. sna middle west did not bring
sa nv extensive liquidation Of the
w. =. .s.res. although Pan-American is
" ~ rere conspicuously heavy.
suss T,,th,r accumulation of the rail-
- shares. particularly those with
Io.,s,nr Iosa merger or higher dividend
rs.r1cts. lifted several southern and
,.hvsstern carriers to new peak
s.,ss. svuf Tor the year. Among them were
ru,ss. ras common, Searboard Air Line
80. ssar and preferred. Western Mary
Ind, wabash common and southern
Railway.
,,y.d. U. S. Steel common closed
s.scs,onally lower at 1924 with trading
= rslafively small volume. Baldwin
al.ss.a y III and then fell back to 1854
=, net gain of Z. American Can
sropped m q points to 242a.
gnssss Of 1 to 2 points also were re-
..rSsd Nv American Sugar Refining,
s..rir,n Water Works, Coca Cola,
r.,crsdo Fuel, Cuba Cane Sugar pre-
s'rs.S sv Electric Power and Light cer-
.ss.stss Fisk Rubber, International
u.rvester.t Montana Power. Public
c.-v;cs Corporation Of New Jersey,
:. 1nssnh's A Lead, and Woolworth.
csneral Railway Signal broke is
roint. to s22. weakness also develop
a Il Chicago Pneumatic Tool, Fleisch-
mann. Havana Electric, Westinghouse
A. brake and Youngstown Sheet ana
Tah. Bullish demonstrations in such
;.s,ss - AZ Foundation Company, Pierce
VS srrow common and preferred. Postum
r.rsal Sears-Roebuck, International
prs,ness Machine, Mathieson Alkali.
Nav York Shipbuilding. Railway Steel
crr,rv and U. S. Realty resulted In
rst aims of 2 to points. In addi-
.,,r new peak prices for the year
vars - established by Allied Chemical,
amsrican Linseed, Brown Shoe. CO.
iumhia Gas. Eaton Axle and Philip
Norris
withdrawal Of funds by interior
hanks In apparent anticipation Of
heavy ,nonth-end requirements was re-
sscted Il sitter money rates. Call
loans renewed at Al per cent. as
against yesterday, and then advanced
to Il, closing at the top. Time money
also was frmer, so to 80 day funds
being quoted at II to A per cent. in
stead at 1 to ~, with corresponding
advances In the longer maturities.
! Commercial paper rates were un-
changed.
sharp drop Of fifty points to
1850 cents in. Polish zlotys featured
the Irregular foreign exchange mar
. ket, Demand sterling held firm
around S4.S5 3.8 but French francs
were slightly lower around 4.6S
/, cents Norwegian and Danish
!, kroner maintained their gains Of the
I past few days, ruling around 1904
\ and 239O cents. respectively.
money rates. the bond market push
ed steadily forward today under the
leadership Of the railroad issues.
Trading broadened out considerably
: with substantial buying orders scat
tere Through the public utility and
Industrial sections as well.
The outstanding performance OF
!, the day was given by Florida, west
I: ern and northern Is. which resumed
the spectacular gyrations that were
feature OF the market earlier in
the month. The forthcoming distri-
button of real estate rights whetted
the demand for these bonds, setting
the price 8 IL points.
The most consistent gains, how
i ever, we're recorded by the income
ana adjustment obligations Of some
I oI tne southwestern carriers which
aand to profit directly by increased
\ sarnnes. Among these were the
sAAS HA ASSOs ihLOl
Great Northern and Katy systems.
Louis southwestern Missouri
racinc and Iron Mountains liens also
!olned IN the advance Of the south
4 western group. Gains OF 1 to
/ polnts were registered by miscellan-
sous issues such as Seaboard ad-
7 !ustment o.. Long Island 4s, St. JOS
\ SRn ana Grand Island As, and
n,lkesbarre and Eastern 5s.
|, reports that revision Of the
n n Menan debt agreement might be
sccomplished within another month
~ sssOunted for steady buying OF Mexi-
= I'm sovernment bonds. The Nation
L = Railways issues, which may be
SymIled from the modified pact,
however, lost ground.
eh.rpsity bonds. always sensitive to
irsss.s,ng money conditions, drifted
iotal bond sales $13, ,127, 900.