Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1925-06-11
NEW YORK MARKET
........s 81 the Days Dealings in All
~ the Leading Stocks


49, York. June 10.-(AP)-Re-
,..sw.Iv little interest was manifest
= 'today's market. the quietest
y e. session in about six weeks.
~, ns.es with few exceptions, drift
s,thin rather narrow and ire
rIar limits.
.xhibitions of group strength
~ buying influenced by the an
sv.arcenent tan increase In Corn
y. rrude prices and reports of a
sss4hsr decrease in Smackover pro-
sl ~ weekly report of the American
,...s,eum institute, due tomorrow,
svnected to show the first de-
.sss n the daily average of gross
49, M iii production since the last
3 March. Net gains in the oil
1890 were generally held In frac-
AM although Texas Company
s,oke through to a new high record
| n the year.
4 steel common held relative
!. arm despite the unexpectedly
Zoe decrease of nearly 100000 tons
Nav untitled tonnage which
s.onrht the orders on hand at the
w a the month to the lowest fig
- sInce last November. The in
ssn4ndent steels showed mixed
sssnres. Crucible closing l IL
seints higher at 66 IL, after having
IA { point above that figure, while
dsif states Steel dropped from 80
~ ID isis. where it was off l 5-S
ii the day.
rather thin market developed
n some Of the recently strong pub
u utilities. West Penn Power broke
. u0ints to 100 on a few sales,
vhiIe Havana Electric. which scored
4 extreme gain of over twenty
ooIrts yesterday fell back six points
q profit taking. Electric Power
"A Iieht issues were in good de-
mand. the preferred certificates
haunting to a new high record for
IL year. American Foreign Power
umped over four points to 81 3-S
IA then slipped to 81.
Good buying also was noted in In
|nnational Telephone, Abitibi Pow
4 and Laclede Gas.
Tobacco issues continued to re-
,uond to reports Of large current
, arnings. United Cigar moved up 3
POINTS to y and then yielded slight
N and American Tobacco and To-
j hcco Products issues showed net
{ nins Of a point or more.
I Revival of activity and strength
i X Robert Refs was based on reports
I lhat the company's plants were OPP
1 Grating at capacity and that May
( Farming established q new high rec
5 cfd Moderate gains also were re-
! sorded by Central Leather preferred.
! ||0lnter Company, Pacific Gas and
I Electric, r. G. Shattuck and Stand
! Ind Milling.
/ Renewal Of selling pressure
! Ilninst the Northwestern Rails sent
4 Union Pacific down one point to
i l& 81, or within half Of the years
I Inv and brought about q similar re-
i lesion In Chicago and Northwesn-
din. Heaviness also cropped out in
! New York Central. Atlantic Coast
i line aid Frisco common, all of
/. txhkh closed more than a point
Ilnwer. LAckawanna showed inde-
INndent strength on buying influence
e n by reports of coal company mer-
i-Eer involving its former subsidiary.
q Call money opened at A per cent
Z Ind then dropped to 3 ga. the APP
y roach Of tax day having little eff
z Ist on the volume Of ioanable funds.
= u0ll money and commercial paper
hates ruled unchanged.
Renewal Of selling pressure against
hench francs which dropped over
kfen points to. 4.S7 cents. featured
h foreign exchange market. Italian
4nd Belgian exchanges reacted in
y 1gmpathy but the Scandinavian ex-
hanges held firm. Demand sterling
+ lnlsd practically unchanged around
!. mss "a.
4 Cross currents Of trading impart-
n n considerable irregularity to the
!, nnd market, although prices gen.
7. It1lly held steady and United States
:. pyernment obligations again dis
a Mayed marked strength. Four of
"a 70 Liberty and treasury issues
sAled new peak points on fairly
=