Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1925-04-10
Financial
NEW YORK MARKET
Features of the Days Dealings in
all the Leading Stocks

| New York, April 9-Pre- holiday
J dullness characterized todays stock
market. which drifted irregularly
lower on a resumption of scattered
/ selling by bear traders. Total sales
which barely exceeded 100000 shares
were the smallest of any full session
since election day, owing to the alb
/ sence Of many traders over the holt
day.
! Chief speculative interest conferred
in the public offering of $4,000
shares of Dodge Brothers. Inc, pre-
ference stock, which was heavily
over-subscribed. The stock was ad-
mitted to trading. opening at 103. or
/ SO a share above the subscription
price, rising to 1913 IL and then Slip
! ping back to 100 SIS. closing slightly
above the bottom figure.
! Trading in the Maxwell Motor is
sues provided about one-seventh of
the days entire business. The "A"
stock touched new record at 80 IA
and then slipped back to 9s Is. UP
l is on the day. The 'B" stock
closed 3-S lower at G. 1-2 after sell
| ing as high as 63 IS. Speculative
activity in these issues was based on
expectation of favorable develop
ments at the meeting of the board of
directors held after the close of the
market.
The so-called pivotal industrials
ruled within rather narrow and IT.
regular limits. United States Steel
common closed IL lower at ia IL
in anticipation of a relatively poor
tonnage report tomorrow. American
Can and Studeballer also showed
/ tfyh f
half to 112 ST.
n bear raid on Savage Arms fore
| ed that stock down more than three
points to CO IL, a new low record FOR
the year, but it rallied later to 60 is.
Hudson and Manhattan fell back l
IA to % 3-S on the traditional Sell
ing on the good news" following the
declaration of an initial semi-annual
dividend of l IA per cent.
HeaVlnesS also was shown bv
Mack Truck. United States Realty,
Wlllys-OVerland preferred, Bush
Terminal. Electric Storage Battery.
international Paper, Jordan Motors,
pullman. Remington Typewriter, and
Underwater, all off n point or more.
Weakness of Pennsylvania, which
dropped to a new low record for the
year at AZ IL and then rallied to AZ
49, olL 90 Oh TIE OdN, was IN re-
Election of the relatively poor 1924
report which shows earnings of s3.S2
on the common as against earlier es
Inmates of over 81. Chicago and
Northwestern preferred dropped two
points to new low at los on a few
sales. Most Of the other active rails
yielded fractionally.
Another bullish demonstration in
General Electric sent that stock m
more than points to 270la, but it
slipped back later to 26S5s. Postum
Cereal also jumped more than five
points to 112 and then eased to los
Buying also was noted in United
Fruit. Montgomery Ward. American
Sumatra Tobacco preferred, Ann Ar
Dor PREFER ed. Chicago Pneumatic
Tool. Geneal Baking. American Su-
gar Refining. Hayes Wheel and Nash
Motors.
Call money held steady at four
percent. Time money and CONNER
cial paper rates We're exchanged.
Foreign exchange rates turned re-
dictionary in quiet trading. Demand
sterling eased fracticnally below
s4.7S and French francs recorded
about four points lower around sig
cents. Mother changes were largely
nominaE
Bond trading lapsed into typical