Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1925-06-02
NEW YORK MARKET
-. = The Days Dealings in All
tha Leading Stocks

Very June 1--(AP)-Mark-
NV q the call money rate was
ins ~ "a today by the heavy selling
fciloMvsts which developed a reac-
q tnna after q relatively firm
tcns.s The decline which ran from
e four points In many popular
s,S was generally described as g
.scfIon Of weakened technical
.0ss,on resulting from the recent
p'.tsined advance. The absence OF
49, 49, traders was reflected in the
~ 1880 volume Of business, total
49, ~ fslling well below one and one
nm milton shares.
~ decline, however was by no
-. general as more than score
y ,ss,,ss. including several public
.i,tv motor and merchandising
Ill., 49,. we're lifted to new high
I0 1919 Tar the year. Included in this
~ vere American Water Worka
~ and six percent preferred,
smsrican Telephone. Nash Motors.
sIsxvell Motors A, Paige Detroit,
,m.ssrnational Paper. Woolworth,
49,, pscrn shoe, International Shoe and
yrsnk G. Shattuck.
csssl shares yielded readily to SELL
u nressure which was impaired by
- 81 another large decrease in
IA unified tonnage report OF the
Hnlted States Steel Corporation Tor
NV mn which will be made public
lima 10. U. s. Cast Iron Pipe drop
"A points to 100 and then rallied
"a while net losses Of one, to near
wsf-s points were recorded by U. s.
Si..l common, Bethlehem, Republic,
I'm states and Youngstown Sheet
I'D Tube.
Waakness also developed In several
= ,he standard industrials. Ameri-
a Can showed a net decline Of 2 "a
z fsSl-8 and Baldwin closed nearly
froints lower at 1T IA after SELL
~ down to lis "a. Among the
msny other issues to show net de-
cinss Of to 3 points were Ameri-
a Agricultural Chemical preferred,
Imsrican Wooden. Associated Dry
Goods (new), Central Leather pre-
hrred. Consolidated Cigar, Dawson
CHEMICAL Famous Players. General
Motors, International Harvester,
Yaek Trucks, New York Gamers.
Pullman, Studebaker. Texas Gulf
eulrhur and WHY'S Overland pre-
aired. Rails yielded with the rest
& the list but not until after Read
IL common and second preferred
ia attained new peak prices at
Il ~ and "A "a, respectively.
Atchison, Chesapeake & Ohio, New
Haven, Norfolk & Western, South
efn Railway and several others show
q net declines Of a point or two.
4 4 sudden burst Of strength In
American Smelling. which was run
% over three points to los, revived
run0rs Of an early increase In the
dividend. Rubber shares rallied
eighty in response to the increase
b tire prices. effective today. but
ware unable to maintain their gains.
Recent weakness Of the International
Mercantile Marine issues was ex-
phinsd today by the publication Of
M preliminary 1924 report howing
another large deficit.
Can money renewed at percent
s-sad then advanced to 4 IL where It
sscbseds It is estimated that banks
called about $16.000,O00 in loans in
efdsr 70 supply funds for the first Of
the month requirements. Time
money and commercial paper rates
.aEee. unchanged, ~ 4sFss s--s..--4. :
Because Of the Whit Monday hol-
DAY abroad tradin gin the foreign
>serchaneo wa1 in small volume with
Kice fluctuations rather narrow. De-
nand Startling held fairly firm, just
under N9e while French francs
were quoted around $40 IL cents.
n vigorated by the holiday rest
mo bond market proceeded on its
Upward movement when trading was
resumed today. Profit taking was
confined to q few high grade rail-
road ilsues but q distinct improve
mMt II speculative sentiment was
elective y lifting prices of the obli-
atons several Of which reached
new top prices for the year.
Activity in the investment field
continued to attract more interest
nan tteck exchange trading. Bank
e estimated that the $4,000, 900
norwegian loan, offered today, was
nom IL to 8 times orersubscribed.
Advsnce Inquiries also were said to
nelcate ver-subscription of the
nsNo0p00 Argentine loan, which
~ y placed on sale tomorrow by j.
& Norman and Company and the
satlonal City Company. Heavy Of
Nfmk8 o. the oufafa ndfnp Arpeufino