Daily Kennebec journal., 1925-07-17
financial
kEW YORK MARKET
|ur, of the Days Dealings in All
tho Leading Stocks

n York, July 16.-(AP)-A
lsi expansion in public partici-
Iku characterized the resump-
st the upward movement of
rs in today's stock market.
shares awoke from their
tag and assumed the early
sship of the advance, but the
lg switched to the oils in the
trading, with sporadic strength
N throughout the day in the
Psn, Public Utilities and special
The days sales exposed 1,4OO,- :
Ishares.
Esdietions of favorable second
ter earnings reports and stiffen-
commodity prices stimulated the
and for the steel shares, u. S.
common touching a new high
be current movement at 11S IL.
public closed a point higher and
Of the others improved frac-
|aHy.
EIension Of recent cr,:de oil
advances was finally taken cog
nce Of by the oil group, Tide
p jumping five points to 141 on
" sales, while California PETROL
Colorado Fuel, Houston, Mid
ilnent, Phillips, Producers and
nsrs, Texas Company and Royal
SOLD about l to 3 points high
Inc weekly report of the Ameri-
Petroleum Institute showed an
Ease III crude production in the
ended July IL for the first time
ye weeks, but it was only 65O
es above the week before.
me railroad list the feature was
spirited demand for Southern
way common, which touched par
Inc nfst time in history, show
gam OF 5-S points on the day.
national Railways of Central
aca and Wheeling and Lake
Preferred also mounted to new
ground. Chicago and North
41-2.
aOlN Utilities again presented
~ points of strength, Montana
n, havana Electric, North
'eah Company, International
pnone, standard Gas and Elec-
Aansas City Power and Light
psslerred, Niagara Falls Power
american Water Works 8 per
plelerred all passed their pre-
prices for the year, the gains
As from fractions to about q
reports that several gigantic
UNITY mergers will be an
ssa lnis fall enlivened specula-
interest In those issues.
~ about three dozen issues at
new 1925 peak prices. The
Aiuued U. S. Rubber common,
,yAe u lire. Timken Roller Bear
gesenold Products, American
\. lachines, General Railway
a american Agricultural Pre-
H. 1ihter Company, American
N A and 'B" and Philip
r. savage Arms jumped seven
n ~ 90 i-S on a run-in of the
..a.sfest, and then eased on
E., v0slous 4. attempt to unsettle the
s |.'s lst by the circulation of
Er. mat the New York Federal
ls.,. y. Dahk Reserve Bank would
n, ~ ~ rediscount rate after the
-. eiosed, was a fiat failure. The
|. 'as unchanged.
!, = ,s'arn u low of funds in the in
t,.ss y new York was reflected in
AZ 1sr lowering of the renewal
4. 'aa loans to 3 ga per cent
n. subsequent reduction to 8
h ,.. 's money and commercial
nlI,. h.ss were unchanged.
N y IN Danish kroner, which
h,su.sm ZEN Up to aound 20.90 cents.
h., e.t !. rate in about 3 years.
os .ae foreign exchange mar
Nv er sr rates held relatively
Conn ssu.and sterling being quot
b nv sn.. as.S5 11-16 and French
4 i ,ust above 4.2o cents.
d ,s. Wv market marked time fail
ly rst. spond to the higher ratio of
1 rss res. Both call and time
i.p,G,,s w. offered freely and while
t,tivs n = was reflected in greater
h b.a activity in the stock mar
t,a, no appreciable effect on
tFsS.g. Reports that the New
b H. lai Reserve Bank might in
b nv. leulscount rate restricted
"a rrnea,atlons, but the rate re-
srosd sdac,nanged.
b VIII, ISSUES lost most of the
at hsiNcn they gained yesterday,
novss spotted with conflicting
rssa sshents. Seaboard Air Line
lncsm actively bought on tne
tsnSsss that the road would
lopnss. % Miami, Fla, but this
\ bv was not favorably re-
obii.aa aoiders Of Florida east
ptr saons and this company's
-, Sedt hAnds fniI q 1Aiafs IA