Daily Kennebec journal., 1925-06-06
NEW YORK MARKET
49,. of tho Days Dealings in All
Fsasu's the Leading Stocks

a,res ct tho Day OedliH9S IN All
Fss'1 the Leading Stocks
-. YORK. June 5-(AP9-A sud
-" s..vival of activity and strength
cen =. III al shares after midday check
y W Secidedly reactionary tendency
ed a.,,rned the course of prices up
ana - 4 today's stock market. The
Nslu T. huying Of the oil shares receiv-
psss. - stimulus from the publication
lnsSvsrnnre1t ~ statistics showing rec
~ Il srsaking gasoline consumption.
en ~ 4 american B assumed the lead
lssrof the oil group. climbing
esvly ssE 5 points to 70 IA and then
sssn Inc slightly on profit-taking. Mid
sss; scssat;nsntal Petroleum moved up over
eun.1f aesnf "a within a small fraction of
rsar's high in anticipation Of
w g, ! resumption of dividends. Net
..ss n a point or more also were
sas,rd sassarded by Barnsdall A, General Pc
ssssnm Atlantic Refining, Middle
gasss Common and preferred, Phil
49, ss. Sinclair, Standard Oil of New
9ss ssv Tidewater and White Eagle.
ctandard Industrials were under
.sss,,re from the start. breaking be-
'sw iheir previous resistance points,
IA IA they received strong buying sup
~. ~, when the turn came in the oils
.sa closed generally higher. U. S.
essal common rallied from 11S SIS to
sm1.S. off Is; Baldwin closed 1-2
s..hsr At 113 ga after selling as low
III IA and American Can closed
z. z IL I point higher at 1SS 3-4 after
..rrbing sfi 1S5 IL. Bullish operations
sre successfully conducted in a
,ss,ber of specialties. Further ac-
s,mulation Of Cushman's Bakery sent
HI stock up points to a new high
cord at SIS on reports of an early
~srper with the Purity Bakeries
rsrnanies. Hot weather continued
Z IN, nroyide the stimulus in the demand
MreAmerican Ice and Coca Cola,
~h,ch attained new peak prices at ia
- ia and 100 s-4. respectively. Rem
;,ston Typewriter, Moon Motors,
lImsrican Type Founders, Tobacco
,,,,ia n,odrcfs and Mack Trucks first pre-
1ssred also advanced into new high
s,aund. Bethlehem Steel and Press
Il steel Car sank to new Vows.
Except for the establishment OF
nxs peak price by Lehigh Valley at
ss7.S, there was little interest in the
S,,il shares which moved within mar
.yow and irregular limits.
rall money renewed at 8 ga per
s..ent hut advanced to and thence to
ia IN the afternoon on the with
naval Of about $20,000,000 by local
/ IA interior banks for the purpose OF
vening I'D their federal reserve bal
asnces. Time money and commercial
uaper rates were unchanged.
Weakness of French francs, which
broke below 4.70 cents to the lowest
.rate since year ago March, was the
feature Of the irregular foreign ex-
| change market. Selling of the French
currency was inspired by reports of
ii ether financial crisis as a result
of tie heavy increase in note circula-
f;on and advances to the state. De-
uand sterling ruled fairly steady
around s4.S5 5-S. Most of the contin-
entail rates reacted in sympathy with
French francs.
Bond trading was restricted in vol
ume today by the absence Of many
Investment bankers and bond dealers
III their annual outing. The market
as result assumed a sluggish ap-
Dsarance and prices turned mildly re-
aicionary.
Foreign developments were decid-
siIy unsettling and prices of Euro
tan bonds were depressed an aver
sge pf 4 point or so. The sharp break
| ID tie French franc to the lowest
hyel In more than a year, below 4.70
u cents which accompanied reports of
athreatened financial crisis in Paris,
mhtributed to decline in the French
MIgations. The allies charge that
Germany has failed on thirteen
counts to live up to the disarmament
terms Of the Versailles treaty, also
shook confidence in the foreign situa-
stion
"a company liens gave the only
outstanding exhibition of group
strength in the days dull market. In
company with the petroleum shares,
The leading oil bonds, including Pan
American. Skelley and Sinclair issues
responded readily to reports of rec
ma breaking gasoline consumption.
Lite buying support developed for
ne railroad issues and as a result
p1ces throughout this list eased off.
y Paul, Frisco, Delaware and Hud-
sn and Chicago and Eastern Illinois
aonrs were among the heavy spots.
sudden demand for Norfolk and
southern IS lifted the price of this
sue three points to new high for
hs year.
Az Offering Of $10.ooo.00o six per
Unt notes of the Schultz Real Estate
sunpany, Inc, recently formed by
ue Schulte Tobacco interests, will
made next week. Total bond
nles sl2.512.ooo.