Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1925-05-19
NEW YORK MARKET
-. r The Days Dealings in All
FeA~ the Leading Stocks

-. York May 1S-(AP)-The
y" royement in stock prices to-
~ uu.rsered upon its third consecu-
- -ssk. Continuance Of easy mon
pgssss hardening of commodity
md increasing indications OF
~ axpansion furnished the
~sundwork for the advance.
= - score issues were lifted to
~ prices for the year with
An s,hlic utilities and motors Civ
" M best demonstrations OF
ms strength. High priced special
gus ssesin recorded the most specta-
W. ceIns. Nash Motors scared II
~, noints to 397, a new record
~ ma more than 200 points obave
E.ser'sl low. Mack Trucks scared
ppssriy points to a new TOP hsure
|-ss ~ Gains Of 8 to nearly Z points
~ accorded by Bush Terminal.
.,s players. Havana Electric
Ss,sv National Lead. United
IN United States Cast Iron Pipe.
IN securities and West Penn Pow
aw,,h the public imagination fred
ss .,,sors Of new super power pro-
y snd reports OF high current
s,rrs by the principal power and
s.st companies, public utilities were
w n.,sr demand. American Water
Works continued its remarkable al
..,ce BY moving up points TO q
- high record at 81 IL. closing
IN M TOP. Detroit Edison Elec-
~ power and Light certificates.
ss. ~ Edison and All-American
c.s,ss Also bettered their previous
s WI h,eh prices. Virginia Railway
~. - power was one Of the few out
rS,nr weak spots. breaking nearly
y rcinfs to l0S and closing near the
Il bottons ... q,
Il, rrude prices stimulated activI-
- Tho oil shares during the after
W. w Associated Oil standing ont by
| climbing points to a new 1870 nlgn
= ia Houston closed nearly three
ss,rts higher at SIS rs and net gains
noint Of so were recorded by the
d. American issues. Pierce Oil pre-
t.rved. Standard Oil Of New Jersey
nd Tidewater.
- n.rtainteed Products crossed ~ to
80 high in anticipation of the
.,,v resumption of dividends. Other
..sr,xlties for which there was a
spoa demand were Marlin Rockwell,
Ssso, wheel Corporation, Art Loom
i cnrnoration. Crex Carpet, Famous
Payers common and preferred. Coca
| .coa. Union Tag and Paper, Advance
Rumely preferred, Mathieson Alkan'
TmDont. Ward Baking A and Van
paslte six, all of which attained
~ maximum prices for the year .
activity in the rails was confined
Il I relatively small number of is-
@ss Frisco common and preferred
"a Chesapeake & Ohio were bid up
Il new Deak prices for the year while
rr;s common. Missouri Pacific pre-
i,rred. Canadian Pacific. Atlantic
coast Line and a few others sole !
10 Z points higher.
The Al. Paul issues held Arm des-
mite the announcement that the IN
iastate Commerce Commission mad
ordered an Investigation OF the re-
ant receivership proceedings. wall
Street was inclined to regard this as
In bullish factor on the theory that
/ would prove the bankers conten-
Iktjou that the action was unavoid-
/. m and that the road together with
others operating In the northwestern
knitory needed relief in the way
46flhishr freight rates.
L Can money held steady at 5 "a
ppercent The time money market
| was slightly easier. 50 to 80 day funds
| being quoted on a fiat 3 3-4 percent
|: basis and the longer dates at 4 per-
Il cent. Commercial paper rates were
unchanged.
The foreign exchange market
moved within narrow and irregular
Alimits. Demand sterling held firm
above 1856 but French francs were
E1lishtly easier around 5.18 IL cents.
I Argentine exchange touched new
Ishlsh on the current movement at
380 cents. The continued diversion
III surplus funds into investment
f'thannels sustained the strength of
sthe bond market today, with prices
Hsfurious railroad and public utility
ines pushing into new high ground.
Ihe growing difficulty encountered
investors in their search for at
Inactive yields brought semi specu-
hive issues into greater prominence
I'd led to considerable bargain
hunting in various sections of the
y Ruilish dam tioo. u +ha r,,h.