Daily Kennebec journal., 1925-05-15
NEW YORK MARKET
!. ..,,r1s q ths Day's Dsallnss In All
wv ehe leading Stocks

e.e&ufoo oS tno b.Js !" ~"
shs LEADING Stocks
80 York. May IL (AP)-The bond
"6eat markets. both OF which
- sfronx, today led the stock
49, asAcenters Of financial inter-
1tock prices diplayed consider
Il. ,,reeularity as a result Of rather
- ninfittaking In some Of the
~ and Industrial specialties, but
l,,,.h demonstrations were success
.1sS ~, ,coI,ducted in q number Of cop
snd food shares.
psviyAl OF speculative activity in
u souDers, most Of which closed q
1:,sf 81 30 higher. followed the pub.
!. ssstion of favorable quarterly earn.
49,. rtAtoments Of the porphyry
.s.sneules. Ray, which earned near.
q 3 ~. 900. ~ compared with $343-
ssaIn the first quarter Of last year,
~ ~ leader in that group, closing
III hixhef at - 3-8 after having
~ 81 is "a. Failure Of the oil
:Ssses 10 respond to the resumptioD
. diyidends by the Marland Com.
.s.v md the announcement Of aAs
ysscee a. gasoline prices along the
ftIsafic seaboard. was attributed to
ssh1|cation Of the department Of
iM3rican Petroleum Institute for the
~Sek ending May 9, showing an in.
100 of $500 barrels in daily av.
rase eross crude oil production.
n lnsffanco stocks were stimulated
IA aettvity by the circulation Of
S16ors u the financial district that
4 6lA settlement will be made soon
q III amount owed by Germany to
~ I1nited States government and to
trs6ficin Insurance companies for
lmerican ships sunk during the war.
nsn{lnental insurance closed 8 IL
anti higher 113 Ia and Fidelity
Eoarlx Jumped over five points to z
- hieh for the year at 120 1-S.
subsfantiaI advances also took place
4 fhe insurance stocks traded "over
n Sosne 81 The high priced industrial
.s1cISities were again in brisk de-
Scnd. Dupont advanced nearly s
,si6fs 70 1b2 3-4 and Mack Truck
moved M more than two points to q
- high record for all time at
II ~. Motor Wheel Corporation
ffhlned 4 new peak price on buy
~ Influenced by report that one OF
n subsidiaries had been granted a
nloon tire patent OF large poten-
tkl feyalties.
Tcod stocks were accumulated on
saDortb Of large current earnings
ia the announcement Of an increase
4 fhe Great Atlantic & Pacific Tea
6unnany dividend, California Pack
hs6 ward Baking B. Cushnan's
Bskery and Austin Nichols prefer
Iod al amounting to new 1925 high
Renewal Of merger reports &C.
uunted for the strength of the
wheeling & Lake Erie issues, each of
Which closed more than q point
higher. Frisco common broke
through to q new high at 90, but
'haviness cropped out in Atchison,
Atlantic Coast Line. Rock Island,
Erie, katy" preferred. Missouri
Pacific preferred, nickel Plate
md Western Paciflc issues and q
INV others.
Gail money renewed at percen,
nd Ater advanced to 4. Time money
s.hd commercial paper rates were
unchanged.
SForesin exchange rates held
s6eady In quiet trading. Demand
aerling ruled slightly higher around
NS5 and French francs made mod
rate recoveries ct E.21 Ia cents, In
naection Of reports that discussions
a the American war debt will be-
"a next month. Other rates showed
mly nominal changes zss.E4s
Steady investment buying held the
bond market firm today, although
.only moderate trading activity devel-
PED. Price changes as a rule were
United but We're sufficient to life a
number OF high grade issues to new
wp prices for the year and in some
Instances the highest levels since
Two Of the Liberty bonds-the first
nd fourth 4 1-2s-rushed through
neir previous peaks, but treasury is
sues fell back on profit taking, in
Mled by yesterdays sharp rally.
Ine strength Of this list reflected
secumnlation by investors who had
liied to find attractive yields in
aner sections of the market.
xEelgn obligations continued to
nAke good progress. Coincident with
" extended rise in French bonds and
9lne OF the South American issues.
Hports Of new financing were circu-
xled. Bankers denied, however.
a. any tnought had been given to
w French loan despite rumors
~ tne government might turn I'd
- y market for funds to strengthen
eold position and lay the basis for
.elolng it, war debt. A $4,000 900
Muedins operation for Argentina
a several small Argentine proyin-
~ ,odns were said to be under dis
sEsun european issues which dis
sS . strong tone included Aus
y sl !s and Copenhagen s LIS. both
Hnlch reached new high ground.
sfoilt taking tendencies again
srss sd up the advance Of. railroad
49,. - aitnough Southern Railway
sss1sn sss1s.al ss, Seaboard refunding 4s
m solne q the st. Paul issues ad-
sssIssersally to their recent gains.
~ 5.SIeV,0o0 issue Of Great Northern
"a percent equipment notes was
% = 4.75 percent.
;bs.st Chile and other coppar
-. we're the most conspici,ous
itsS;s. pols IN the Industrial group.
Ihfed s "a these issues being stimu-
8 sor. me bullish demonstrations
!, ~ lMe q the copper shares.
~ sales $13.62S, 900.
ock MARKET AVERAGES
Surs6s, ~ 1ndustrtaA go R.R.s
Vs6... t..... 1893 1Of eS
GagdaY -. 1891 1no a.