Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1925-05-26
NEW. YORK MARKET
- Il the Days Dealings in All
sasu''' 10 Leading Stocks

Y york, May 2o.-(AP)-
Mw rr,ces started upward at the
SEocA = ~ toiay's market. but turn
7e1 q ,nnary later under heavy
nue Of profit taking ana pear
Ie ,ars Spectators tor the ad-
sl ~ sncceeded, however. IN hitting
san's srcre issues to new peak prices
mo - ~ year. Trading showed a
" ota contraction in volume al
appass - ne DAYS sales ran well
tousn one and one half million
s0sse news was largely construc-
l .a A character. 1t included the an
w ssr,ent of an advance in gaso-
tou ops,sces in New York City and
ny e nuotations for lead, zinc and
t5nu teal Commodity markets
lap a1so higher with much of the
Sssu Il wheat and cotton influence
/ H II adverse weather reports,
n Y OCCASIONAL traders were quick to
s nroflts on first signs of weak
uM x the standard industrials.
lss can broke four points to
4 while declines of / to =
y, y. gere recorded by such popu-
= ppl la.s,,ss as United States Steel COM
~ slwdin, Allied Chemical,
ass,Ican Smelling, Coca Cola, Fam
~ players, Montgomery Ward,
W. Gulf Sulphur and WHY'S
iSriahd preferred.
4 'srAs so-called merchandising
w vave one of the best demon
se s.,ons Of group strength. Reports
I isrre current earnings stimulated
asmard for Associated Dry
49, Kinney. May Department
',.s RroWn Shoe, Simmons Com
istasnd Robert Refs common and
= ~ nrsferred. all of which attained
.ss rsak prices for the year.
~ s,ieulative interest in the motor
w eel,tered in the unusually
( ssv demand for Studebaker, which
sas Al 10 a new high on tram
o ssaus n 100000 shares. Paige De-
M packard. Pierce Arrow prior
.s.rred and Briggs Body also
..ssd new highs. Mack Trucks was
Msyy. dropping back more thah .
Wlnts to ll6 IL.
Is sa;,1ted demand was noted Tor
80 specialties in which recapi-
[Ssss,an Mans or merger Develop
VI ara believed to be pending.
rs,sd states Industrial Alconoi
y . ri, up four points to "a Il, the
sshSst price in about five years, on
sssSn6rined rumors that the stock
" 4 IL split up on a two to one
Ut WITH dividends on the new
~ resumed at the equivalent or
\ .rSnaIly on the present issue. In
.rssional Pauer, which recently
,,sounced the segregation of its wa
nover properties. touched a new
~ a 7S IS an dthen fell back
IL for net loss of z Is
Minis Union Bag and Paper jumped
fge points to a new top at % IL
Nj then fell back to 81.
o,h,r new highs included Ameri-
w AGRICULTURAL Chemical American
stseeo aBs Tobacco Products,
TyeSt Aeronautical Corporation,
lS,iional Dairy Products, Montana
EVA. United Drug, Ward Baking
Il Joseph Lead, Cuyamel Fruit
"a OTIS steel, common and pre-
AIRED, the buving of the last named
Ijnes being based on rumors OF a
rerrer Of several independent steel
1,smpanies in the Youngstown dis
INIT, Corn Products Refining sank
hsaeW lowsat 33 SIS. 80
nsTM demand for rails conferred
thyey In the eastern coalers. Lack
sufsnna was bid up 4 IL points to a
INV top at 147 but dropped back
No lis 10 and Reading moved up
Stout 3 points to a new peak at
G1.2and then cancelled half of its
gain Southern Pacific was heavy
Aln rejection Of a relatively poor
lAprIl earnings report. Call money
spened at 8 "a, advanced to 4 after
! mid day and then 4 IL. closing at
le top. Time money and CONNER
tlal paper rates were unchanged
with business in moderate volume.
With the exception of sterling,
which held firm around s4.S5 ga. the
4fareign exchanges displayed a reac-
tomry tone. French francs yielded
Two points to sos cents. the lowest
Ante IN about two months and minor
lcncessions also took place in the
hnan, Belgian and most of the other
Important European currencies.
Front taking operations halted the
Inward movement Of bond prices
~ me week opened with the av-
49, L.