Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1925-05-20
NEW YORK MARKET
r..,uras Of the Days Dealings in All
the Leading Stocks

Nav York, May 19-(AP)-High
.,,ce Industrial specialties reported
y ~ under pool control led another
s.,rorous advance in today's stock
ysrtet. Trading showed a marked
asnansion in volume, the days sales
e.,rning over one and one half mil
IT,, shares. While the demand for
.scc,,s showed a broadening ten
ssrrv. the motors and public utilities
Sortinued to give the best demon
STATIONS of group strength. Tobac-
- and steel shares also attracted a
larger following. Financial interest
ras divided between the buoyancy of
the stock market and the strength of
sterling exchange, which advanced to
within one cent of parity and the
highest price in nearly II years.
Ruying of sterling bills was stimu-
lated BY South Africa's return to the
aid standard on the theory that
iris would lead to an expansion of
cold shipments to England.
Although public participation In
the stock market was still relatively
small there was better demand for
The recognized industrial leaders.
n s. Steel common was bid up 2 IA
noints to 11S "a. a new high on the
current movement. and Baldwin
closed fractionally higher at ia 1-2.
American Can continued its steady
advance by touching new peak
price at 1873 and then slipping back
to 1872 SIS. where it was up is on
the day.
Utah Securities was the spectacu-
lar Individual feature, soaring II IL
points to new record price at IA
As compared with low of Al is
only few months ago. Mack
Trucks jumped more than nine
points to a new top at 1873 and then
dropped back to III ga. Nash
Motors more than doubled its years
low by jumping nine points to a new
top price of 406. Dupont, which
owns a large interest in General
Motors and is reported to be negoti-
ating for Mack Trucks, scared near
" II points to 165.
other outstanding individual strong
spots included Associated Dry Goods
Electric Power e Light Certificates
General Electric, Foundation Com
pany, International Business Ma
chine, May Department Stores
Sloss- Sheffield Steel. Union Tank
Car and Virginia Railway & Power
all Of which closed from to s IL
points higher.
Oil shares were under steady ac-
emulation on the announcement OF
an increase in Smackover heavy
crude prices. Houston Oil stood out
with gain Of more than four points
at 70.
The surprising turn for the better
this spring in the automotive indus
try was reflected in the brisk de-
mahd for those shares, the three
Pierce Arrow issues, Whatsoever
land and Briggs Body all climbing Ia
new high ground.
Sporadic strength developed in the
railroad group, which was featured
BY the heavy buying of the Wabash
issues. all of which broke through 10
new maximum prices for the year on
mel gains OF z to points. Another
ADVANCE In the price of lead brought
iresn puying into American Smelt-
ing when closed SIS points higher
at % SIS.
Inere were several weak spots
scattered throughout the list, Marine
common and preferred each broke
more than points to new low levels
lor tne year on reports that surin.,
earnings had not come up to earlier
e1pectations. Sharp losses also tool,
pace IN Cushman's Bakery and
onlseo states Cast Iron Pipe.
Cal money held steady at "a
percent Time money and CONNER
ciai paper rates were UNCHANGED
III .u business quiet. Foreign ex-
uanges were irregular. Most of the
Sonunental currencies lost ground
11sncn francs. dropped about 8 IL
yumts to 6.15c and Italian Ira
BUMPED six points to 4.01 cents.
several unsettling factors includ
ihs tne appearance of profit taking
saies IN the railroad list and a sharp
eIe1K IN Polish percent bonds. in
sspted the upward movement OF
uonu prices although the markets
uaueftone continued firm. Diversion
= speculative interest to stock trad
ms contributed to the irregularity OF
Price movements.
dissolution of the syndicate which
recently foated the s35 100000 Pol
~ loan was responsible for the
saK IN that governments percent
Donus. The decline, which set in late
sesterday afternoon, was extended
quay Carrying the price down from
ls pegged level of around %. which
.'au been maintained for several
mVntns, to low of 81. Subsequent
me bonds recovered to 80, show
ss net loss of point. More than
saevuVoO worth of the obligations
sMe thrown on the market after the
','norawal of syndicate support.
french railroad issues failed to
~ fully their recent gains, but
80 rest OF the foreign list held
sssaay Bank Of Japan IS touched
- lor the first time this year.
an outstanding demonstration of
scaulvoual strength was given by the
'snuard Gas LIS, which mounted
:. points to record high price
= iSS. A rise in the company's
s s.va' into which the bonds are con-
sannie on an attractive basis, ac-
sounted for the gain.
mixed price movements marked
naoing in the railroad group. st.
~, aul hens resumed their upward
0sement, scoring gains of a point
o. but International Great Nor
80. Ih adjustment IS lost yesterdays
Vance OF more than 2 points and
nzlng sales caused recessions in
lumber of other issues. U. S.
s ~, bonds worked irregu-
higher. Sales were $16,12S, 900.