Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1925-06-12
NEW YORK MARKET
s..,.ras o. the Days Dealings in Al
the Leading Stocks

...r.. q; the Days Dealings in Al
the Leading Stocks
Y 80 work.. June 11-(AP)-Con-
nv forces were actively at work
!. scday's stock market which moved
y higher ground under the leader
~ 81 the oils, motors and public
.s'itiss. Resumption of pool oper-
s.ss.s. II several issues. heretofore
.ssnt was encouraged by the
eustsrnsnce Of easy money rates and
es.orscrsble dividend and trade de-
rslopnsnts.
~ American Petroleum Institute
ota.srr 4 drop Of 1850 barrels In
~ Ssiiv average production Of crude
l I y ~ the week ended June s, the
u u.. =, ,.duction in about eight weeks,
uas.s.risted the demand for the oil
l.ss Texas Co., whose earnings
~ rrnning at a record rate, moved
"a points to 81 "a, the highest
W.. ~ two years, and was follow
~ srto new high grauond by Gen.
Y, "a pstroIeum, Independent Oil and
=. phillips and Atlantic. Gulf and
West indies. American Republic, q
soidine company with several oil
.',hsidiaries, scared 10 points. to
rscord top at So.
Havana Electric was again the
..asational feature Of the public
ssity group, jumping nearly ten
s aJ to 1856 IL and then dropping
sssk three points on profit taking.
! ~. smsrisan foreign power issues also
are s.sre n brisk demand, the common
.Mrshinr nearly points to 40 "a
. "a then yielding to 80 SD. Ameri-
=, water Works, Federal light &
Trsction and Virginia Railway and
power moved up point or so, while
| r.st Penn Power recorded half of
~ 70 point loss of yesterday.
Marwell issues were run up Z IL
,oints TO 1856 1-2, largely at the ex-
Ssnse Of q stubborn short interest.
q Mack Truck closed IL points high
4 At 1T ga and Dodge Bros. pre-
Jared touched q new top at II 3-4.
Stability OF the steel shares in the
,aee Of an unexpectedly large de-
rrsase in the untitled orders of the
4 limited States Steel Corporation,
yislded to some short covering In the
stsndard industrials. American Can
i "a run up nearly points to 1S5 Ia
md net gains of a point or more were
| ,aeorded by American Locomotive,
American Smelling, Dupont, Interna-
tonal Nickel, Montgomery Ward,
Sssrs Roebuck, Tobacco Products
nd western Union. U. s. Steel COM
mon closed fractionally higher at
! ia ia.
Revival Of speculative interest In
z ,hinpinrs. based on reports Of heavy
tourist trafYic, resulted in gains Of
. sbout : points being recorded by Ma
Zine preferred and American Interna-
tonal Corporation, General Railway
4 sirnal, trading in which started to-
Az was run up from la to 152, clos
~ at the top. Other outstanding
. Industrial strong spots were Ameri-
a. Type Foundry, Commercial Sol
vents B. New York Steam preferred.
] pttsburg Steel preferred, United Ci-
ar stores and Woolworth, all up
10 ! points. Trading in the rails
xas rather quiet with Rock Island,
Kansas City Southern, New York
! ContraL Norfolk Southern & Read
81 IL, western Maryland preferred, re-
eurding the best gains.
Call money held steady at S-4
Percent. Time money and CONNER
cial paper rates were unchanged.
Foreign exchange rates huctuateo
| within rather narrow and irregular
limits. Demand sterling ana French
1 francs were practically unchanged
| It tlS5 SIS and 4.S7 IL cents res
4 pectively. Scandinavian exchanges
. showed moderate gains.
Al unabated demand for United
| shtes government obligations. car
/ uine virtually all issues to the
uafs highest levels, featured to-
day,s bond trading, with general im-
! Dfpyement shown by all classes OF
Investment securities.
Heavy over-subscription Of the
S1s.oo0 treasury Offering and the
surplus Of investment funds thrown
On the market because Of the small
amount Of the financing contributed
b the rise in Liberties. as well as
treasury bonds, high grade railroads
md corporation issues.
Prices of Belgian bonds, now out
fanding. were readjusted to around
hs IT'S percent yield basis at which
tie new $50,000,000 seven percent
han win be offered tomorrow.
Heavy advance inquiries for the
1sx bonds, mainly representing act
~ sales, were reported under the
NM policy adopted by j. p. Morgan
Z Company Of attempting to obtain
possible before formal opening of
Ms subscription books. Other for
nm obligations were firm with vari-
~ ArSentine issues scoring <moder-
lts gains.
Buying interest in domestic cor
patten liens was conferred chiefly
convertible oil bonds, which
pusted up under the impetus Of ia
Mnble developments affecting the
Industry. including a sharp decrease
domestic crude oil production.
connecting price movements mark
dealings in railroad issues. with
sscuonal advances in Northern Pa
we baltimore & Ohio, Reading
aa Wabash bonds Offset by the
sAsiness Of Seaboard, st. Paul and
aver & Rio Grande liens
Y xupuc Offering Of $5,000,000 New
sans Public Service S percent 30
~ bonds will be made tomorrow
3 Mlion, Read e. Company at %.
suaus Will be used to provide Inn
Svvements and extensions.
~ S Ssa bond sales (par vaIue) $12.-
/ STOCK MARKET AVERAGES
\ m 20 Industrials 20 IRIS
VsSy 49,. 1884 100.95
49, .. 120.46 100.42
No. dSO -. 1915 102O8