Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1925-09-02
|srM YORK MARKET
q the Days Dealings in All
u'ss ~ Leading Stocks

INV
4 yo,,. Sept. 1,-(AP)-Stock
Il sV axe sharply just before the
/ Z Il todays market AFTER an
~ period Of moderate strength
G. Sozen or more pool special
4 p c,ss;nr quotations disclosed
NJ score losses ranging from l
n roirts and a scattering list of
II point gains.
EaIne pressure was particular
\ n ssair,st recent strong spots as
\ assr Can, Dupont, General
go Foundation Company,
' r,,cks, International Harvest
] s.srs Roebuck, Otis Steel prefer
| \ r. Shattuck and Westing-
: /. III Brake, all of which fell B
.a,nts below yesterdays final
/ I hans In some instances, Of
III we're sufficiently large to sug-
) urgent liquidation.
~ was nothing in the days
J. Il account for the selling.
Y teton house observers gener-
I asseribed the reaction as par
] 'a,rection of a weakened techni-
y ssit,on resulting from the re-
q sustained advance. Operators
~ long side tried vainly to at
nublic following by bidding
! ru,uber Of the equipment, to-
/ Z md merchandising issues trad
] I, variably turned dull on the
~ This led to increased Of
i.rs and a withdrawal of buying
/ agoa
1, NJ At 10 3-S and losses of l to
|. > points also were recorded by
IA nopular Industrial issues as AL
/ h rbsmical, Chrysler, Montgomery
Il American Smelling and Re-
! N Studebaker, Z. S. Industrial
! t,sd Marine Preferred, Texas
J n sulphur, Tobacco Products and
Isl Realty.
: IrAicago Pneumatic Tool spurted
] y nolTts to a new high record at
4 n Anticipation of that company's
Il sntrar,ce into the electrical re-
! f,astjon field. New York Ship
! 2sjne Jumped 6 IL points to a
LINES high at IS. Baldwin Loco
yase also developed Independent
; jTrah, crossing 120 and then fall
!. Etaek to 113 10, where it was up
!. 81 On the day. Railway Steel
|. KIM clofed ? points higher at 40.
Issils declined with the industrials
Eoush special buying was noted in
Nm issues. 500" preferred jump
\ liz points to a new high record
! and the common closed 2 IL
! Ms higher at 40 ID. international
! kDxay of Central America common
, run up over 4 points to a new
I "a record at 3S in reflection of
Z idly increasing earnings. Atchi-
!. developed a temporary outburst
+ strength by moving up to "a and
n sagged to 100 -, unchanged
\ the day. Several of the standard
III such as New York Central,
nsding, Southern Railway. North
Pacific, Union Pacific and
1a.awanna closed l to 2 points
! l1ll money renewed at 4 Ia per
and then advanced to A IL,
tsng at the top. Time money and
tnmercial paper rates were I'M
I fnsed.
! IReactionary tendencies developed
! tlhe foreign exchange market. De-
Snd sterling yielded 1-Sc to 4.S5
b minor recessions also took place
The Belgian. Dutch. Swedish and
Iris currencies. French francs
kN steady around 4.69 cents. Nor
Yagian and Danish kroner fell back
J snd49 points. respectively. Brazil
n mlreis crossed 13c to a new high
ID for the year.
fchief interest in bond trading to-
~ conferred in foreign obligations.
tvtrsl wide price movements took
bee in this group and the only inn
frtant new financing to be an
tnced consisted of Canadian gov
fment and Italian industrial loans
1Ilssolution of the syndicate
rh earlier in the summer floated
fNaOe3,G00 Australian loan caused
fayy offerings of these bonds to be
fnped on the market, depressing
I'm two points below their offer
price of 90. Transactions in this
as tofalled about S1.000,000. An