Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1925-11-05
NEw YORK MARKET
q the Days Dealings in All
Fsatufss .he Leading Stocks

ciated 80 since the famous three
for volu anare session. which followed
Million 81 =, on the Wilson peace note
the Fiesn ,ber 1916, today's stock mar
u pecemd frregularly higher under
sel ,,a'asdership of U. 5. steer common
che i. is4 accorded the rare ieat OF moH,
whlc, ave points in one DAY 10 Io4
Ing x ne highest price since lsll, co on
~ ussansactions in excess OF loo'-
total a arss The days total sales
900 s,'s en- 600 shares or $4,000 shares
were The he previous high record es-
aD s,,shed on october lS:
tablsusSc greet was inclined to attri-
Wah ~ spectacular advance in
bule unr,,ed industrials stocks to
higher pnacts of stock dividends, re-
the pLos sroro the investigation by the
su. ls,ps revenue bureau Oh lne un-
ln ns,ihrted surplusses OF these cor
dlss' ,.,ns Speculative bellet that
aa,,ld be found to tax these UNI
sa.,hs,ed assets leads to the stock
dlstipaa theory. Bullish enthusiasm
dlNioena created by the lowering OF
also Na aay rates, further reports of
cal nM expansion, rumors OF In
busll'es0 and extra dividends and
2 crease. Increasing public partlcipa-
seaun' no speculative movement as
noh y in the enormous increase
!. oda-ldt orders. 49,. ~,
~ ,s'tafs set the pace In tne carry
... Mv but the advance in those is
u .as sWas checked by proht taxing
SUI hsar selling. and speculative IN
any ~ fire hong side spread to the
'ele,. ointment oils, tobacco is
slees nj saecialties. Rails failed to
sues .;e S in the advance as ex-
p,'.alv ms the industrials, although
l eas,s,c Coast Line. Seabord Air
l'la .sNickel Plate" and Wheeling
Lal,'' ~ Erie common and prefer
a.s wake through to new maximum
pljces for the year.
nupont scored a spectacular ad-
vsnce Of q points by touching a new
s Non record at 244 ga. American
r rs;cla common and the certificates.
. .",e,scan Iinseed, Internal Com
suction Engineering, Loose Wiles
p uiss,d second preferred, Sloss Shelf
ssla steel United Cigar Storessand
pahlic utilities also presented sew
al outstanding points of strength.
p,c;sc Gas ard Electric was run up
larsr noints to u new high record
stlsf1-S, Philadelphia Company adj
,anced over points to a new top at
Ss-s and Brooklyn Union Gas adj
yanced over 2 points to a new peak
at IS rs
Erratic movement took place in the
motr group, although General Mo-
tors WHY'S Overland common,
Dodge Brothers A and Hupp attained
now maximum quotations. Hudson
opened points higher at III. Mack
Truck duplicated it's high at 242 and
then slipped back to 235 "a, off IA.
Chrysler broke points to 245 and
{. White showed some fractional loss
after having sold above 30.
There were several weak spots.
Loose-Wiles Biscuit closed IA points
lower at 125 after having touched a
ne wtop at 40. Commercial Solvents
Aand 3, Federal Mining and Smelt-
ins. New York Shipbuilding, STAN
dard Milling. United Drug and U. S.
Realty closed about 4 to s points
lower
Cab money renewed at s percent
and then dropped to IL as interior
4 hanks returned funds that had been
withdrawn to meet November l re-
Qurements. Time money and COM
mercial paper rates held steady.
Weakness of French francs, which
broke nearly Is points to a new low
record for the year and closed around
! cents, featured the foreign ex-
change market. Demand sterling
was slightly firmer around s4.S4 3-S.
Japanese yen showed a further adj
vance at Al 7-S cents in reflection of
the reported shipment Of gold from
\ their country to the United tSates.
8 Italian, Belgian and other continent
tai clrrencies showed narrow and
Irregular changes.
Bond prices resumed their up
ward movement with railroad issues
figuring conspicuously in the adj
vance. A slight easing in time mon
ey rates encouraged fresh buying Of
corporation bonds with attractive
Yields but failed to stimulate a cor
responding demand for United
States and foreign government OBJ
legations.
Investment circles found it difficult
70 trace In the days price movement
any definite reaction to the an
nouneement that Great Britain had
M,sd It's embargo on foreign ,oans
although 1t was generally agreed that
2'ae Ultimate effect of this step
I would be far reaching.
Among the probable results ex-
pecleo BY bankers are atfurther cas-
hg Of money rates with a tighten
lls London and gradual lower
n's 81 the interest basis on foreign
{ vans sold IN the market
y nuleations Of renewed compete
uvli iof new financing were seen Inn
nsulalely In reports of London that
ol.lsh bankers were considering ac-
sunedatlons to several foreign Dor
,s1sfs among them the government
UNA the German potash indus
- and the city of Warsaw. Some
M reports were described as
ae'as Ieelers.n Nevertheless, 1t is
: ssvsaered certain that the rivalry
s ss,seh NV York and London will
Z Terms.
'ns financial district continues to
,s vsunu IN discussion of foreign bond
e 49, " most of which were said to
s,o " q tentative stage. Loans Of
srs, s r., were mentioned for the
II IN rum Co. of Germany and Ita1-
All l,ectric industry with a $4,000.
res.. aasance to the Turin Gas Co..
dels 'so contingent ,pon an Italian
Ma .,saslness of French obligations
r,enase' lributed to the fall in the
tbs I W.. ranc to the lowest level of
iee,ss,. Liberty bonds drifted ir-
to',ehia a9 lower with the third 4 1-2's
sss s,i new 1925 low.
1'es were sl2,9oS 900.
s'oek MARKET AVERAGES
nsts Twenty Twenty