Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1925-05-23
NEW YORK MARKET
i The Days Dealings in All
ftslufss X & Leading Stocks

At.z.sk5 Al IlIS ~
fI,su's' IL Leading Stocks
yrk. May 22-(AP)-Real-
Nsw ~ by professional traders
I.ag sals Considerable irregularity to
Ipparleo ,ovement in today's stock
.k rics enough the main trend
nlis,ss.e upward with tn, the d mo.ops
aisas another remarkapI. u Pal
ddns Il group strength. Kan
station sbered strength as the SEES
shirss ss,.essed with several OF the
sioh plOs n,srrlers recording substan-
xtstsm - compared with the two
thl gang, s days, trading showed a
ps!Iou,s . contraction in volume, al
Hodeia'st otal sales ran above one
acusn ~ a,,arter million shares.
aud tnfee .t,n,ed ease of the credit
me a. reflected in the estab-
siusl'0.b II the highest reserve ratio
llsiasl rssr by the New York federal
III ne hank: an increase OF ten
rsefss harrel in Smackover crude
ark ~ higher lead and zinc quo
\ rAs,ns all had +;ra
lstens, The weekly mercantile
ss'llllsn leo reported more cheer
ielsss In Il business circles. The
81 W. snsnt is not general or strik-
~ nuns review says. .But opera T.,
have increased moderately IN
ll9.s ri lines where there had peeh
aEels ..,on from the expansion OF tn
reass' orths this year, and the price
eIg a a Is strengthening"
s .asriyal Of activity in the Ia ra us
i y anticipation OF favorable
rs !. larnings statements by several
iFll e. nsrt week. The northwest
pn's ,,a.s are expected to make a
~ nns fine showing, which &C
PaI!sa sar net gains of one to two
eaan.s Mi III points being recorded by
p 49,. ~ chicago and Northwestern.
ea'sy ysland. Great Northern pre-
ecA 81 Missouri Pacific preferred
n Union Pacific.
- shsres was ascribed to reports
asr;nc sales were running at an
u s high rate with several
l.sust Unable to make
nns deliveries. Nash Motors
~ us ID points to AIS. duplicating
Y sl, vseord high, and Mack Trucks
s.x ' IN over 4 points to within a
W. ~ small fraction of its record top,
y " cancelled nearly half of its gain
y n sa taking. Pierce Arrow pre-
VA soared 7 IL points to a new
Y sts7o rs and the prior preferred
IA l-s points higher at ia IL
~ ~, touching new maximum at
n ma Maxwell issues. Packard
. = and WHY'S Overland pre-
ssrsd aiso broke through to new
~ NJ nricee. the last named touched
I, and then easing to 100 rs, up
il-s.
Bayinr III the oils was OF a selec-
| ii, character, California Petroleum
wfprred advancing more than 8
] mInts "a q new high at 1913. while
yarland, Texas Company. Union Oil
california. Sinclair preferred. and
| ltbntic Refining climbed a point or
The Increase in the Pacific Oil
dTdend apparently had been anti
mated, he stock closing fraction
,Ev lower al 50 IA.
SueculaiiYe belief that the segre-
ndmsof The water power properties
d theiIllernational Paper Company
rH soon had to a dividend declara-
ion on He common. accounted for
IL brisk demand for that stock,
which jumped 6 3-S points to So. the
hishest price in several years. Sim
\ mons Company responded to the
announcement Of Favorable court
DECISION Involving the use Of pa
tents foxk<ieetrically welded tubes
used n HE manufacture OF steel
ieis BY climbing more than 2 points
b new top at AZ IL.
Among the plany other issues to
better their previous top prices for
1 The year were Nav Department
Stores, Mathleson Alkali. Brooklyn
Elson Robert Refs, National Dis
tllers Products. New York Gamers.
Consolidated Gas. Detroit Edison.
Brooklyn Union Gas. American To-
tsro and United States Industrial
Anhol
Call money opened at 3 "a per
cent but advanced to 4 in the late
ahsrnoon. Time money and CON-
nsrial paper rates were unchang-
Rsaetionary tendencies character
lnd the foreign exchange market.
Demand sterling dropped nearly
Aili . cent to $4.S5 3-4 while
French francs fell 3 points to 5.12
cents the lowest figure since the
middle Of last month.
Speclative interest continued un-
diminished In bond trading, finding
satisfactory outlets In various rail-
loaa public utility and oil COM
rsny bonds.
Prices again worked into new
nsa ground, although most of the
sans we're relatively narrow.
a. explanati0n for the strength
ueaeaso, Terre Haute and South
sse!n bonds APPEARED today with
Y circulation ofthe report that the
'saa might be divorced from the st.
~ Hstsrn and added to the Mick
The incomes Is were active today.
y. y IL points. Chesapeake
u, vnlo Convertible 5s, Erie Gen.
va va = and iother Of the so-called
8. = sNeringen issues were, strength
NJ NJ oaay BY indications that the
ss ,slana Tall magnates were mar
sa v National pleas in support
'ash merger plan to present to
M atrstate comlnerce commission
N aaa g The trading activity in the
sfoup conferred, however, in
= ~ q the western carriers. Chi
~ ~ :. ma Northwestern, Frisco, In
e. al' e,' Great Northern Chicago
rs estern and Iowa Central
tfacked buying orders.
NJ NY YAK Central IS and "big
were heavy.
~. company obligations continued
tssass,, to the recent reries of
4. SUE Developments in the in.