Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1925-08-15
FINANCIAL NEWS

Chicago Pneumatic Tool jumped over
five points to a new peak price at
1o7.
Railroads gave another demonstra-
ton Of group strength. Norfolk &
Western assumed the leadership in
that group by moving up nearly
points to 1879 ga, the highest prices
since 1916 when the stock crossed
lat New Haven, which is generally
expected to dispose Of It's New York,
Ontario and Western holdings at
handsome profit, moved up to Sc, the
highest price since 1920.
New peak prices in the rail group
also were established by Frisco
Common, Wabash preferred A, Great
Northern preferred, Seaboard Air
Line common and preferred and
Western Pacific common and pre-
ferred.
Eastern Coal carrying stocks show
ed sharp gains despite the threatened
suspension of anthracite mining on
September l. Lackawanna jumped
8 IL points to 144 and then slipped
back to 142 and Delaware &, Hud-
son showed net gain of 2 IA PORTS
at $50 IL after having sold slightly
above that figure.
Some further outstanding strong
Commercial Solvents A, Federal
Mining & Smelling preferred, Gen
eral Outdoor Advertising, Interna-
tional Business Machine, Interna-
tional Harvester, Sloss Sheffield
Steel, South Porto Rican Sugar,
United Railway Investment prefer
red and Westinghouse Air Brake.
Call money renewed at 4 percent,
holding steady at that figure
throughout the session. Time money
rates also displayed an easier ten
dency, 5000 day funds being quoted
at to 4 IA percent instead of 4 IA
to IL, with corresponding re-
duction in the longer maturities.
Commercial paper rates were I'M
changed.
Foreign exchange rates displayed
steady tone. Demand sterling was
slightly firmer around s4.S5 SIS and
French francs were practically I'M
changed at 4.67 cents. Norwegian
and Danish kroner rallied several
points to around 1914 and 22S5
cents respectively.
Transactions in bonds again were
on a small scale today but evidences
of better investment buying with a
smaller volume of offerings, impaired
a decidedly strengthening tone to the
general list. Norfolk and Western
convertible IS keeping pace with the
upward movement of the stock on
the big board, were the outstanding
features among the railroad liens.
advancing at one time almost 4.
points to a new high price at 1873.
The issue yielded in the late dealings,
closing for net gain of IA points.
Kansas City Southern 5s moved up
1 IA points. moderate advances also
being scored by Seaboard refunding
As, st. Paul-Kansas City Short Line
4 1-2s, Chicago and Western Indiana
5 1-2s, Delaware and Hudson con-
vertible IS and ST. Paul refunding
1-2s each receding fractionally.
Several of the foreign obligations
were active, French SIS touching
new 1925 top at 104 ga for half
point gain but reacted at the close
for net loss of Is. Bolivian SIS
were up ga and Seine rs, Serbian SIS
and Finland SIS each improved slight
ly.
A rise of IA points in Sicily Oil
s 1-2s featured the oils. Industrials
were quiet, International Papers IS
gained a point and Republic Steel
las moved up fractionally. Pa
cific Gass and Electric SIS advanced
SIS Blu Kansas City Power IS yielded
slightly. Dodge Brothers IS receded
slightly. A fair volume of trading
was done in U. S. government issues
with little change from quotations of
the day before. Total sales $780,
600.