Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1925-01-10

NEW YORK MARKET
Features Of the Days Dealing in all
the Leading Stocks

Features Of the Days Dealing in all
the Leading Stocks
New York, Jan. with a mark
cd increase in public participation,
stock prices today continued to move
TO higher ground under the leader
ship Of the standard industrial ind
railroad shares. The demand for
stocks, which was spread over q
broad list, was predicated upon the
continuance Of easy money rates and
| reports Of further Improvement in
! the steel, oil and other important
industries.
! United States Steel common touch.
ed ia II, the highest price since
1917. and Baldwin closed 2 3-S
points higher a. 135 "a, after SELL
ing at 1856 IL, the highest price in
over year. American Can touched
1G6 and then slipped back to 1854 5-S
! for small fractional gain on the
| day. Studehaker, The other member
| Of the sc-called Big Four" moved
within a narrow range and closed
| fractionally lower at 45.
High grade rails were in good
| demand throughout the session
Southern Pacific crossed 1OS 10 the
: highest price since 1920, closing at
q net gain of two points, Union
Pacific touched 153. the highest price
n nearly two years. Further accu-
mutation of Denver and Rio Grande
western preferred sent that stock up
y points TO record top at 81.
Cther stHong spots in the railroad
group included Nickel Plate
common. which closed 5pointshirh-
er at 100 IL and Buffalo and Sis.
quehanna, Chesapeake and Ohio
common and preferred, Rock Island
Big Four" Delaware and Hudson
Iehigh Valley, 800" common and
preferred, Missouri Pacific common
and preferred. Baltimore and Ohio
preferred, Norfolk and Western
Seaboard Air Line preferred, Texas
Pacific and Western Pacific issues,
I the ne gains in which ranged from
to 4 l.: points.
The sharp rise in several special-
tles. more than a dozen of which
tdvanced to 3 10 5 IL points. was
directly traceable to individual in
nuences. II. II. Macy moved up q
points to a new top at so 3-4 on the
improved dividend outlook for The
STOCK. Savage Arms touched ;,
record price at 80 in response to re-
Ports of increased sales of its cleo.
TIC TIC reiflserating apparatus, Adams
Express, Brown Sharpe, Chica~o
rheumatic Tool, Montgomery Ward
General American Tank Car. Loose.
Wlies Biscuit and United States Cast
iron Pipe were among the issues tc
show net gains Of } points or more
REVIVAL Of activity and strengt h
~ certafn-teed Products, whf,;1
closed point higher at the record
top Of 10 Sd, followed reports Of
hleher earnings, Famous PLAYERS
crossed par for the first time i, two
years IN further reflection Of the i'm
proved financial condition of The
company.
Heavy liquidation of the motor
ana rubber stocks was apparent in
the late dealings. Nash Motors broke
from high of 215 and Chandler
cldcked > points 20 50 IA and then
iailled point from the low. eHayi-
ess also was noted in United States
Euooer common. Fisk Rubber first
preferred. Pierce Arrow preferred
and Il few others.
NaI money neld steady at 9 .
Ief cent. Time money rates showed
tendency to sag when OFFERINGS In
,reaseo, plenty Of sixty day funds
oelnS available az {; IL per cent
WIN borrowers indisposed to bid
, ne. .hah . Ia. The longer maturi.
hes ruled j IA to IL per cent,
,Lstapllshment OF another new
Sgh by sterling exchange around
nf''o and a sharp rise in the Nor
meelah ana Danish and Serbian
eurrencies was the feature of the
Ioleish eNcnange market. Other
European rates moved within mar
row and fractional limits.
Bond prices today responded ia j.,
further drop in money rates factor
"hlch also was reflected in a marked
| expansion of trading. The influence
Oh the usual January investment de-
mand contributed to the improye-
ment OF high grade liens while yari.
Gus rail and public utility issues rail-
Hed on new speculative possibilities
Denver and Rio Grande obligations
led the railroad list in strength and
actlVlty' moving up to new high lev
els on prospects of better earnings
Gains of to 3 points were scored
by chesapeake and Ohio convertible
os' Norfolk and Western convertible
rs, New haven rs and franc rs, In
ternational Great Northern adjust
| ment 6's. Seaboard adjustment 5's
and Missouri Pacific as.
Outstanding strong spots in tho
PUBIC utility group were Standard
Gas 1-2's which jumped z Ia
points to 116 1-2. and Federal TIGHT
IS. which extended their gains two
points to a new high at 1872.
Favorable trade DEVELOPMENTS
, which aided the oil and come
shares. also brought gains of l to
points in Marland Oil SIS with war
! rants. Sinclair s 1-2's, Magma r.
anaconda 6's and American SmaIt ,
ing SIS, ilson issues continued to raj.
! ~. ~
In view Of unusually heavy VOL
ume of bond offerings this week
| new financing absorbing much of the
| interest In investment circles. Sub
scriptions for the $125, 000,0 Ameri-
can Telephone Bond issue, offered
Yesterday, it was indicated. ran
| close to $4Oo,0o0,O00 and a $4,000. OOo
| issue for the August Thyseen Steel
| works was soon over subscribed
! Other issues aggregating more than
slOO,O00,0O0 which are scheduled for
! early offering. include $4,000, 900 for
| the consolidated Gas Co.. $50. 900. O0C
Tor the Boston Edison Electric Illu-
mlnating Co, $25.000.00O for the Bell
| Telephone Co.. of Canada and S.. 900
600 for the Pacific Steamship CO
Total bond sales (par value) were
s2o,142, 900.
STOCK MARKET AVERAGES
Date Industrial. r,t,reads
fTlday ..120.s0 1O4.5S
iuf Sudy ss..s,...lZU.39 103 81