Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1925-04-18
should be included when the list
made.
Financial
NEW YORK MARKET
Features of the Days Dealings in All
the Leading Stocks

New York, Apr. 17.-Another out
burst of strength in the motor is
sues was the outstanding develop
ment in today's rising stock market.
Maxwell Motors B was the spectac-
ular feature, soaring over nine
noints to a record high of 81, against
a price of about $40 year ago, as
shorts scurried to cover. Mack
Trucks was lifted up over 4 points
to 149 IA, also a record top. Trad
ing was in moderate volume, the
davis sales approximating about one
and one-quarter million shares.
Standard industrials displayed a
strong undertone despite the cas-
ing Of basic commodity prices and
the "spotty" condition of business
generally. United States Steel COM
mon closed more than a point high
err at III IL, Baldwin climbed near
ly . points to 115 and American Can
showed q fractional gain at l73 1-S.
The recovery in the general list
was aided by the sharp rally in grain
prices and the continued ease OF
money rates, which encouraged pool
operations. International Harvester
jumped 5 SIS points to 1OS 3-4 on re-
ports that the demand for agricul-
tural equipment was unusually
heavy. Otis Elevator was bid up
5 ID points to a new peak at lis IL
on the announcement that the COM
pany had earned half Of its annual
dividend of six percent in the first
quarter.
Some Of the other outstanding
strong spots in the Industrial list
were Adams Express, Advance Ru-
mely preferred, the American Chicle
issues, American Ice. Bush Terminal,
Goodrich, Marine preferred, Mathie-
son Alkali, New York Gamers. Post
UNI Cereal, Radio Corporation. Unit
ed States Rubber and Utah Securi-
ties. all of which showed net gains
Of from , to nearly 6 points.
Copper shares held relatively
steady despite the fact that most OF
the non-ferrous metals established
new low prices for the year in the
commodity market. Magma. which
resumed dividends yesterday. fell
back 1 3-S on profit taking. recess
sions in most of the other issues be-
ing limited to fractions.
A bear drive against the so-called
Durant issue temporarily unsettled
the general list in the early trading.
U, s, Cast Iron Pipe was hammered
down from 157 to 152, duplicating
the years low. and then rallied to
1856. Independent Oil and Gas was
depressed to q Is but snapped back
to "a for a small fractional gain on
the day.
Trading in the oils was restricted
by the uncertainty developing as a
result of recent crude price cuts and
increased drilling operations.
Rails maintained a strong under
tone. Southern Pacific was bid up
. points to 104 3-S and Delaware
and Hudson advanced = IL to
etaoi hrdl mfwy rdlu aoin taoinnnnn
$40 IL. willie Ann Arbor preferred.
Atlantic Coast Line, Rock Island,
Colorado and Southern Nickel Plate,
New Haven. Norfolk and Western
st. Louis-Southwestern and a few
others advanced a point or more.
Call money ruled unchanged at IL
percent with funds available in the
Outside market" at slight conces-
sions. Time money and commercial
paper rates were unchanged.
Speculative interest in the for
eign exchanges was divided between
a jump of nearly ten points in
French francs to a new high on the
current movement at SOC and the
establishment of new high record
by Norwegian kroner at 1927 cents.
up l. points. Spanish and Danish ex-
changes also sold at record high
levels.
Rising prices today again char
acterized the bond market which
was featured by a brisk upturn in
French securities in response to the
creation of new cabinet headed by
Premier Painleve. Although the ad-
vance was not uniform it embraced