Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1925-09-15
NEW YORK MARKET
Features Of che Days Dealings in All
the Leading Stocks

the Leading Stocks
New York, Sept. 14.-(AP)-Re-
spending to the aggressive buying
tactics Of professional traders, stock
prices bounded upward today on to-
tai sales of just under two million
shares. the largest in about six
weeks. The bullish demonstrations
started in the motor shares but soon
spread to the motor accessories, rub
bers. coppers, steels and tobaccos'
over two score individual issues
breaking through to new peak prices
for the year. The general indus
trial average also attained new
high record for all time.
There was no outstanding devel-
onment in the days news to lnnu-
ence the market movement. How
ever. reports of expanding trade OPP
erations. an advance of cents
ton IN the price of pig iron In the
Mahoning Valley district ana the
continued ease of money, despite
the enlarged demand for funds IN
connection with September 10 tax,
dividend and interest payments, all
heiDed to create bullish sentiment
Nyillys- Over,and common was
again the sensational feature, rum
ming UP 5 points. to new mgr
record at u IL on total sales eH-
ceed.ng 10000 shares, or approx
mately one-se, enth of the days en-
tire business. Studebaker and HupI'
also touched new 1879 peaks ana
General Motors duplicated It's niGn;
a broadening demand for Gniteu
States steel common carried tnal
stock IN over > points to 10, new
high on the current movement.
ent spot covering in American ca,i
p.shed it up TO new record hisni
ii o49 "a but it fell back lateT 10
DAT. where it was up one on the Jay.
BALDWIN closed fractioLally lower a.
12i SIS. T., .t
Buoyancy again developed IN HioS.
Of the high priced speciaities. an,
Motors scared IL points 10 ne"
record ton at 4JO General Railway
SIGNAL Jumped nearly s points to 81.
ahd International Shoe, Natlonai
lead. Pullman and U. S. Cast iron
Pine showed net gains OF TO D
points. ~.
Renewed accumulation OF the ra-
do shares conceded with the open
ING of radio exhibitions in this CITY.
Radio Corporation was run up IL
noints to g. and American Bosch
Ma gneto which recently entered the
radio business was bid up over
noints to Sc 3-S and then eased TO
IS "a. :.
Conner shares started upward IN
further reflection of sharp reouc-
tion in the refined stocks OF the req
metal last month, but buying petereo
out soon after American Smeltlns
and Howe Sound attained new 1870
high prices.
Among the many other stocks 10
sell at the years best prices were
the American Tobacco issues. Allan
tic, Gulf and West Indies; sears
Roebuck, Fleischmann, Goodrlcn
Rubber, Simmons Company ana
Timken Roller Bearing.
Rails failed to participate in the
advance to the same extent as the
industrials although Delaware and
Hudson climbed over 8 points to
14s rs. Atlantic Coast Line crossed
200 for the FIRST time, Pittsburgh ana
west Virginia reached new high
ground for the year at 81 7-S ana
Northern Pacific at u 3-S.
Call money renewed at Ia per-
cent. which rate was maintained all
day. Time money and commercial
paper rates were unchanged.
- Foreign exchangesI were irregular.
Demand sterling and French francs
held steady around $4.84 3-S and
AGO cents, respectively. Norwegian
kroner held firm just below 24fo
cents. Spanish pesetas dropped
about ten points to 1883 cents.
weakness cropped out in Polish
zlotys which broke 40 points to
1850.
A revival of demand for high
grade railroad liens impaired a
Strong tone to the bond market to-
day. With these issues leading the
way, prices forged into higher
ground on the largest turnover In
several weeks, exceeding $15,OOO,OO0.
The buoyancy of the stock market
found a sympathetic response in
trading, convertible issues readily
following the upward trend OF
shares.
With the Seaboard Air Line Rail-
way floating a new $1O,O00,00O bond
issue to take care of its increased
Florida traffic, attention was redir-
gected to the roads securities. Bonds
Of its chief subsidiary-the Florida,
Western and Northern-were run up
IL points but some of the Sea-
boards own issue eased off after an
early period of strength. Other
rail bonds which sold one to 4 points
higher were Norfolk and Western
convertible 6s, Baltimore and Ohio
first is, Big Four" 5s, New York
Central refunding 5s and Pere Mar
ouette IS.
Aside from the activity of rail is
sues, the most interesting feature of
the days trading was the bonds of
Wilson and Company and the Vir-
ginia and Carolina Chemical Com
pany. both of which are in process
of reorganization. Gain of to 2
points were registered by these liens
as well as by U. S. Rubber 5s and
International Mercantile Marine Is.
Public offering of the new Sea-
board Air Line bonds, which are first
and Consolidated Mortgage 20 year
6s will be made tomorrow at a price
of 81 3-4 to yield $40 per cent. The
underwriting syndicate Is headed by
Dillon, Read and Company. The
proceeds will be used to increase IA
cilities of the Seaboard system.
Total sales SIS, 204, O00.,
Stock market averages:
I Twenty Twenty
ipduStria1o 9