Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1925-08-14
financial
,kEW YORK MARKET
Ii, Of the Days Dealings in All
the Leading Stocks

N York, Aug. 13-(AP)-Bouy-
l ot selected group of high priced
Erial shares, revival of activity
strength in the public utilities
Ithe selection of new leaders for
kpswing in the railroad list were
4 Outstanding characteristics in to-
irregularly higher stock mar
american Can and Mack Trucks
l the spectacular features, soaring
Nv record high prices at 24l and
Iutreme gains Of Z and 13 1-2
ID respectively. Both closed
| The top. Trading was in mod
volume, the days sales approx
td one and one quarter million
Il.
kns Of the larger commission
ka reported extensive switching
leculative interest from the in
tsls to rails. Buying of the lat
received impetus from the publ
tn Of a report showing another
base In freight car loadings in
lEeek ended August /, the third
tscutiye one in which the million
was crossed.
|ager and dividend rumors were
/ freely circulated regarding the
rails. with an official denial of
|1ne that the New Haven was dis
tg Of its holdings of New York.
tTio and Western to the New
Central.
fdaration Of an extra dividend OF
the common stock of the Cen
Motors Corporatin was an
ped after the market closed. The
closed unchanged at 81 after
Eg between SO and 80 SIS. Other
fn were mixed. White moved
sympathy with Mack, closing
higher at "a. Pierce Arrow
red and WHY'S Overland COM
advanced about a point each,
Etudebaker, Jordan, Packard and
son closed fractionally lower.
were again sluggish. publica-
/ Of a few favorable second quar-
Earnings reports being counter
BY another increase in crude
tput last week. Atlantic Rein
|nIied four points and Pacific
"a, but most of the other
ar issues closed fractionally
frited bidding, low priced rails
Ped in several gains Of l to .
e which carried the general
pad average to the highest level
years. The general industrial
Ege duplicated the record high
time, established on July ~
Fls year.
~ York, Ontario and Western
lbh up over four points to a rec
fsgh at "a "a and then eased 10
Il. A sudden demand for the
Haven carried that stock up z
to within a small fraction OF
Pears peak. Frisco common, the
Wabash. issues, Wheeling ana
Erie common, Western Pacinc,
X and Western; Chesapeake
Ihio preferred and Great North
referred all attained new 1870
Prices. Chesapeake and ono
on fell back more than a point
hit taking.
'cnt, which will benefit by the
cash dividend on General MO
Trough its large holdings OF the
scared I points to LAG and then
slightly on realizing.
efal Electric, Westinghouse AIT
and Weston Electrical lnstru-
all broke through their pre-.
high levels in anticipation OF
yea earnings through the SAFE
slroad equipment. American
ing also established a new top.
renewal rate on call money
eWered to 4 percent, holding
at that figure throughout the
Y. Time money and CONNER
nper rates were unchanged.
~ the exception of declines OF
~ points each in Norwegian
.snish kroner, the foreign ex-
market was characterized by
aeiy narrow and irregular f1uc-
Demand sterling and
r - francs ruled around 4.S5 IL
~ cents respectively.
prices showed improvement
- larger volume of trading,
M. ains being recorded by the
~ q the active issues. u. 8.