Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1925-06-23
Financial
NEW YORK MARKET
kures 81 the Days Dealings in All
the Leading Stocks

~ York. June 22-(AP)-Mark-
ID Of the call money rate from 3
to / and thence to 4 IL per cent
ibIred sufficient selling to turn the
- Of prices downwards towards
close If todays' stock market.
ryiousIy the market had drifted
IN narrow and irregular limits,
Imrh bullish demonstrations had
[ suc.essfully staged in about a
n issues, including a few motors
public utilities. The rise in eau
hey was attributed to the calling
hans by out of town banks.
Ihre was little in the days trace
NJ to affect market sentiment.
dmodity markets were irregular
pn futures opened higher but can.
ii all their gains in the late wave
kling while wheat was reaction
most Of the day. French ex-
nee sank to the lowest level since
Esh, 1924, on selling presumably
bred by the views expressed y
in business men and financiers
he meeting of the international
nber Of commerce in Brussels.
iupont responded to the declara-
LOT q forty per cent stock dividend
mounting to new high record at
IL but it broke 5 points from the
on profit taking, closing l IL
h net lower.
pecial strength developed in sew
Of the motors. Buying, appar-
based on expectations of an in
sed dividend this year, sent Gen.
Motors up one point to a new
record at so, on total transact
Of about 100000 shares, or ap-
umately one tenth of the. days
e business. Dodge preferred
pa IS to q new top and White
y up to within a fraction Of the
4 high on heavy trading in Mack
ks, Jordan, Chandler, Moon and
re Arrow Common each fell back
unit or two, while Pierce Arrow
ared and prior preferred lost 2
and four points respectively.
upments were rather heavy
agnout on unfavorable trad, re-
Union Tank Car broke 5 1-2
on few sales, American Lo-
1--we sank 3 to ia and losses of
NY or 30 were. recorded by Bald
american Car and Foundry and
locomotive.
were again slow in respond
favorable production and con-
slun statistics. Houston, Sim
Maracaibo and Mid Continent
seOut a point each and most Of
slers Yielded fractionally.
@acco stocks moved upward un-
s leadership of United Cigar
which touched a record top
~ and then yielded a point on
Tobacco Products came
Z = small fraction of the years
w. NY cancelled it again in the
Slng movement. Robert Refs
M. = to a new top 1 and good
" also was noted in Brown
salumet and Arizona, Central
- preferred, Mullins Body and
4 Nh, sna Heilbronner, all up 1 IL
a.rry in call money failed to
me time money and CONNER.
I. brs ser rates which remained un-
49, ~ AZ ga to 4 per cent.
onary tendencies predomi-
.ne foreign exchange mar
mand sterling was slightly
around 4.85 rs and French
broke 6 IL points to 4.65
< NJ o then rallied feebly. Ital-
"a ruled about s IL points
fjh sh and activity of United
I. So,sernment bonds again was
miulng feature of trading in an
~ pond market. Getting off
d SOW Nv start and ignoring the
sendency Of money rates,
m. tne Liberty issues and the
N IN. las attracted growing
v 49, 49, OF buying orders as the day
aiEnd and broke into new high
II IfsS cting price movements
4 oma'ue aiings in the main body
ws liens. The furry in oil
lletosac followed the unexpect-
~ OF the Sinclair interests
~, eapot Dome case continued
w pront taking, under which
fs.r an-American and Sicily
bc,..s eased Off. The decline
M consolidated skies was
Hso to two points.
ps.ncement that the Dupont
nt.csnt bonds would be called
oer l at a price Of 1O6
~, quick reaction in these
1sc0 had been selling ahnyA