Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1925-06-09
NEW YORK MARKET
. -. a. the Days Dealings in All
ees the Leading stocks

v.w York. June S.-(AP>--Stock
49, ~ armed decidedly reactionary
49,. fafter an early period of
fooas which was featured by the
i VI. esnnumulation of a selected list
al rubber and merchandise
- selling, which was largely
Confessional origin, was attri-
s.,,sd 10 prospects of temporary
srsrsy stringency this week IN anti
p's Vsei Of June Is tax payments.
VI the apparent inability Of pools
!. ~ .4tract public following.
denounced weakness developed
rurnber of high priced stocks.
r...rsi Electric broke Z points and
~. rallied one, while net losses of
esoto 4 1-2s points were recorded
AIlis Chalmers, American Can.
nr,ont. Mack Trucks, Maxwell Mo-
~ ~ = certificates, Laclede Gas. Nash
Ssscrs. U. S. Cast Iron Pipe, Wes-
!. ~ Union and Woolworth.
u.vana Electric showed outstand-
" independent strength, soaring
!: 70 noints to q record high at 1877,
nnvine said to be for the account
u y rlectric bond and share interests
VA then slipping, back to l62 on
ero6t taking. Other Independent
ss,nnr spots included Brooklyn
Msnhattan Transit, Julius Kayser
ma National Lead.
Early strength of the oil shares
80 based on expectations of an
ssr,v increase In continent
s-aSa Texas Company and Mid
Sentinent Petroleum were quickly
MA IS to new 1925 highs 40 IL and
s. respectively, but these gains
rsre: cancelled in the general wave
Y saillne which swept the mar
~ 1nfing the afternoon. The Pan
smsfican issues reacted about 4
s1ints from their early highs, while
~ ioegeo Of / to 3 points were re-
ssr6od by Atlantic Refining. General
l9phalt. General Petroleum, Pure
oil anA Pacific.
Rubbsrs also enjoyed . temporary
,sofled Of strength with U. 8. Rub.
~ Common and first preferred,
~ common and first preferred,
UNDERSTANDABLE 6 per cent prefer
m III breaking through their pre-.
vioife years maximums. The early
erons spots in the motor group were
Noon and Chandler, but each closed
lcVof On the day. Steels were heavy
flfouShont the season, u. S. Steel
& conmsn closing IL points lower at
rams lost ground withe the indus
hi4la Lackawanna closed snearly
IL points lower at 143 after OPEN
~ & 14 "a. . new high record for
~ year. Norfolk and Southern
t0uehed new top at 81 IL and then
6ftpped back 2 points, for q small
6aetional gain on the day. Net de-
dimes Of point or more also were
recorded by Baltimore and Ohio,
cb1aapeaks and Ohio, st. Paul pre-
f>ffsd. Rock Island Great Northern
MSt6rred. New Haven. Northern
Pacific, Southern Railway, Union Pa
einc and Wabash issues.
can money held steady ut 4 per
eont Time money and commercial
plp1r rates were unchanged.
xhAfp recoveries Of the French
nd foreign currencies features the
Irregular foreign exchange market.
Ffsnch francs were bid UP nearly 10
points to 4.85 1a2a cents on reports
that early use of the 500, 600, 600
Morgan credit was contemplated to
kAblize exchange, while Belgian
Francs recorded similar gain Of
LIZ ~ cents in rejecting of reports
mt Belgium will send a commission
here next month to negotiate q set
uement Of her war debts to this
ountry. Demand sterling held firm
tfonnd $4S5 5-S.
Buying interest in today's bond
nasket was quickened by the an
nuuhcernent that the Forthcoming
heasury financing of $125,000. 900
would be the smallest since the war.
Funds which had been with held in
participation Of larger offering were
hereby released and Immediately
fought employment in investment
cnannel4 lifting five United States
government obligations to the high
- levels Of the year, and Bringing
aoout moderate improvement
urouthout the entire list
hdi0tions that the government
Ml % an unusually strong financial
@1pon. 80 shown by the small
enount Of cash needed at this time,
sontfibuted to the rally in its bonds.
1 49, 49,. Y =