Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1925-09-22

NEW YORK MARKET
I -. q, the Days Dealings in All
!. the Leading Stocks

y York. Sept. 21-(AP)-Heavy
M az loans resulting in the
s;nr up OF the call money rates
aII-i to 6 percent, precipitated
v,pral selling movement in to-
| stock market which definitely
ssd the speculative operations
4. rise. The break came after
mai outburst of strength in the
N shares. which carried Genera
nj Studebaker and Hudson to
MS high ,evels on extreme
I r,nnin. as much as 3 IL
4 above last weeks closing quo
ms
N MONEYS stiffening tendency
generally attributed to the cor
N q the s15,600, 600 deficit in
~ shown in last Saturday S
~ house statement. Net de-
4 Hanged from / to 5 points
tie sharpest breaks taking
h the high price industrial
sln,s, whose rapid advance mas
/ feature of recent markets.
jrg was relatively heavy in vol
Ii. days sales running well
dne ana three quarters million
u
,ie news was largely favorable,
uuting that outside news devel-
Ents we're having little effect al
NJ on market movements. Pub :
Esn Of the first August railroad
ngs report was made an UNI
kEy favorable comparison with
aue month last year, brought
4 temporary display OF
Eth IN the rails but later they
ack In sympathy with the IN
Ehk. although the losses were
ID large. Kansas City Southern,
tY road to report actual figures
BID net railway operating IN
BOT s4s5,9S5 last month, as
Ut $4e6, $50 in the corresponding
khot 1924, bringing total operat-
income for the first eight
Ess Of the year to S3.226.S56. as
sxt $2,s74,03l in the same period
b previous year.
sding In the motor. rubber and
zary stocks comprised more
one half Of the days total bus
Hudson was again the out
Nnc feature, opening . IL
. higher at IS and then slipping
h93 IL on realizing. General
r touched record TOP at 107
" and then dropped back to
a for net gain of 2 points on
hy. Studebaker reached new
ground at IS Is but closed
Analy lower at Sc SIS. Stewart
az was run UP over 4 points TO
Erd top at 10 IL and closed
Aafraction of the high. Ameri-
kseh Magnetic, Mullins Body,
zbsg Carburetor and Yellow
Manufacturing advanced l to
POINTS but Dodge common and
rM, Kelsey Wheel. Packard
Arrow. Jordan and a few 9TH
soSed net lesses of t to nearly
txtent of the decline is Illus
DH American Cans reaction
" rs to 23S ga and a sub
" recovery to 240, where 1t was
" and Mack Trucks dropped
~ IA to 213 1-2. where IT
about 2 IL points on the day.
Rpular issues to show net
~ o. two or more were Ameri :
g and Foundry, International
M Pullman. Certain-teed
W. Montana Power. Sears
sA Westinghouse Air Brake
aSthington Pump.
lean and foreign power de-
g Independent strength by
y ap over 4 points to a record
a@ "a when the selling
sA In OTHER sections of the
a Its height. The Market
galway issues also moved
@ current trade.
money opened at IA per-
.ssheed to 5. 5 1-2 and thence
spacating the years high
.ae banks loans to the ex-
s,a .ss'voO 600 or more were be-
NV Time money and COM
Nper rates were unchanged.
NJ, ~ s1change rates were slight
aary. Demand sterling
20 5-16 and Italian lire
I'M ~ francs each ruled about
= DIVER around 400 and 4.39
M pectively. French francs
n, :. Alb l-2 cents on re-
.he French debt mission
III a concrete proposal,
kithe Immediate payments. for
Ny ' oil its debt to this
NJ oea by the rise in the call
Hf J. 20 the highest level of
ssatinsso percent the bond mar
ss ~ TO make moderate
M quay although buyers
AIph apmewhat cautious atti-
sd grade railroad issues led
5llssan se@ York banks under
ee. . restore their reserves
sassa;.ng house after last
w ~. ~ Wall Street refused
u NM alarmed over the
-essNal Of funds from