Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1925-09-25
new YORK MARKET
...-.. 81 the Days Dealings in All
'e''p the Leading Stocks

:noc crunpiSu " poiiAeo eoueiy
r .ssr an avalanche Of selling orders
anuIn oth accounts. Selling pressure
,nspired by speculative fears of
ss Wy ne in the New York federal
% - 10 discount rate, which later
iess e be unfounded, and the ap-
Fvsss withdrawal of pool support in
ssseral issues.
rsiIroad shareS and the pro-
" ~ lowering of the call money
arm ga to percent inter-
hit failed to halt the selling
Iaprsut. Buying of the rails cena
~ a,eely in Cheslpeaka end Ohio
tsEsur,,folll ana Western, which at
20 =. ne wi,.eh prizes for the year
sA sii Id and 14l l 4 respectively
" IN New York Central, which
ss.sa 1e4>an dthen slipped back to
~ "a for a net gain of l L. on the
y canadian Pacific and Nickel
a.. also showed substantial gains.
f ~Ss sharpest breaks took place in
ih;rj, priced industrial specialties.
us.r;can Can broke from 235 IL to
ss IasI . and then rallied to $50 IA, off
.,li Dupont, General Electric,
~, trucks, Otis Elevator. Sears
a aJ and West Penn Company
!" - to 5 IL and International
i y, Kelsey Wheel. National
is.spotis Steel preferred, United
ns,wavs Investment preferred, U. S.
aa ~. IRON Pipe and Universal Pipe
~ ss.s.rred showed net declines of or
more points. , t.
1 break of over seven points IN
p.;gps Manufacturing, whcih touched
asw low for the year at - IL, was
sIos,ated with unconfirmed rumors
Sing TO the omission of the divi-
,ssa and cancellation of contracts.
a.a of this issue unsettled
IN motor and accessories shares.
s 'msr;can and Bosch Magnetic, Hud-
pierce Arrow, Spicer Manufac-
.;re studebaker, White, WHY'S
nr.rIsnd and several others showing
y. declines of 1 to IL points.
raharcos were in brisk demand at
u onaning, but the rally soon peter
= AIT except in Lorillard, which
s.ssd over point higher at SO Ia
,iter establishing a new top IL a
mint above that figure. American
Fohacco dropped from lis "a to 10
" hen rallied to 116 IA, off l 3-S.
~S;,s the 81 stock fell from III IL
y ia is and then rallied to 1lo on
Ia .. ora
..,inst the current trend were Coty,
,ss detroit Edison, Fleischmann,
s. sts Cement, Liggett and
Mv,rs aEf. New York Shipbuilding.
"a sweets Company of America, all
10 point Or more.
raIl money renewed at "a per
ent, dropped TO IA and thence 70
Time money rates also relaxei
sirhtly. sixty to ninety day funos
Ming auoted at 4 IA to L. instead
i an fat IL percent basis, with
corresponding reduction for the
surer dates. Commercial paper
rates were unchanged.
Win the exception of another
srsak az 80 points in Polish zlotys TO
a "a cents foreign exchanges moved
ri,sin rather narrow and Irregular
tn,its Demand sterling was slightly
s,s;er at s4.S4 Is and French francs
Ma firm Just below 4.73 cents.
Heavy buying of French govern
nent bonds. coincident with the
opening Of the French debt negotia-
ions at Washington, bolstered up
prices in the bond market today
Ivan Streets belief that a satisfac-
g. tory agreement would be reached
Twas also reflected in the strength OF
Cher foreign bonds, engendering a
more cheerful sentiment in trading
drcles.
With time money rates easing off
stier yesterdays temporary harden
he, the bond market ignored re-
p5-ts Of a possible increase in the
ssE York federal reserve re-dis-
count rate, later shown to be I'M
: founded. which proved so distaste-
tri to stock market trading.
TIE leadership of the French
Eoup was assumed by the govern
Eent's percent bonds on a turnover
eGeeding s1,300,000. These obnsa-
liaas gained almost a point and es-
ablished new top price for the
year at So 3-S. The demand Tor
french Z 1-2's and SIS was less ur-
gsut but both issues scored good
fractional gains. Czecl1o- Slovakia
y rose almost a point on the an
nqineement that a debt funding
eanflsssion from that country would
ssl late this month.
Improvement in market conditions
10y European bonds has brought to
Saccessful conclusion negotiations
which have been pending since last
sHing for s15,000.000 Bavarian
nan. An offering of the bonds is
eipected next week.
Free movements of domestic bonds
Fefe mixed but in most groups, gains
AWeighed the losses. chesapeake
Ohio convertible SIS duplicated
: rally in the roads shares reach :
VI new high level at 121 and clos
x about point higher. Heavy
1. aying Of Kelly Springfield tire Us
Aed the liens points. sugar
'nos, however, were depressed by
Y recent weakness of the raw sug-
aayy.
Gales were s11.921,0 900.