Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1925-10-31
NEW YORK MARKET
Features Of the Days Dealings in All
the Leading Stocks


New York, Oct. 30.-(By The AS
ISOLATED Fress)-Spectacular bidding
M Of the motor shares, several of
which advanced to new record high
Jewels, featured the irregularly high
err movement of prices in today's
stock market. Sporadic bear selling
and profit taking frequently inter-
.rupted, but failed to halt the up
swing OF prices, which reached its
peak in many issues in the last few
minutes of trading. Total sales ex-
coed two million shares for the 18th
consecutive full session.
Spectators for the advance found
encouragement in the weekly state
ment of the New York Federal Re-
serve Bank, which showed an in
crease in the reserve ratio, testify
ing to the apparent healthiness of
the credit situation. Temporarily
sitter call money rates were disre-
garded.
Weekly mercantile reviews con-
51rmed reports of recent improve
ment In business. "A more marked
upward trend is visible in most lines
of business" says Dun's review.
Bradstreet's states that trade and
industry. generally speaking. have
been maintained at about the best
levels of the year, with gains over
IL year ago at this time still reported,
despite the market rally shown last
fall from the dizziness of midyear in
1921"
Hudson was the new leader of the
motor group. soaring 3 IL points to
a record high at ia and closing at
the top. Dodge Brothers A moved
up 3-S points to Al IL and Jordan
4 to 20, beth new high levels. Stude-
then slipped back to 65 3-4. >Chrysler
closed 8 points higher at 237 and
General Motors nearly 2 points high
er at 1873 IL, but they did not touch
their recent highs. Combined sales
of Studehaker, Hudson and Dodge A
exceeded 325,O0O shares.
With the exception of American
Can, which advanced nearly 6 points
TO 256, or within a point Of its record
high, despite the fact that 1t was
selling ex-dividend, standard indus
trials failed to participate extensive
ly in the advance.
Atlantic Coast Line was the SEN
sational feature in the railroad
group, soaring over ii points to q
8 new high record at 215. After the
market closed the road announced
the proposed construction Of a new
line in Florida. Seaboard Air Line
was run up over points to a new
high at 80 5-S and Louisville and
Nashville crossed 100, also for a
gain of more than four points.
Pennsylvania sold above par ($5O)
for the first time since 1918. The
Van Sweringen issues displayed a
nj
took was heavy on profit taking.
Several spirited advances again
took place among the specialties,
Coca Cola soaring II points to 163
and International Business Machines
and Loose Vile Biscuit z each to
116 and ia respectively, all new
high records. Other OUTSTANDING
strong spots included Goodrich, In
ternational Nickel, American Brake
Shoe, American Water Works, At
lantic, Gulf and West Indies, Cali
fornia Packing, Chicago Pneumatic
Tool, the Commercial Solvents Is
sues, Kelsey Wheel and United Fruit
all up 3 points or more.
x Call money held firm at 8 per cent
all day. Time money and CONNER
cial paper rates were UNCHANGED,
foreign exchange rates were slight
ly reactionary. Demand sterling
ruled 1-Sc lower around $4.S4 3-16
and French francs fell below 400
cents for net loss Of about
points. Other changes were largely
nominal.
~. The recovery Of foreign obliga-
tons and rallies in a few railraad
and copper issues were the major
features of listless bond trading.
Changes were extremely narrow with
prices marking time.
French bonds were strengthened
{ by reports from Paris that a new
ambassador would be sent to the
! United States In an effort to reach
satisfactory debt settlement with
this country.
A vigorous rise in bonds of he st.
] Paul Railway. ranging from J. to
: L. points reflected Wall Streets
reaction to the announcement that
: more than a majority of the bonds
/ involved in the roads receivership
had been deposited with Kuhn, Loeb
and Company, and the National City
Company, the reorganization mana
gers, virtually assuring their con-
troll OF reorganization policies. Other
strong spots in the railroad group in
Guided Chesapeake and Ohio con-
Nertible 5s, Chicago and North
western 5s and Atlantic Coast Line
IS.
Heavy buying>of copper liens was
promoted by the removal of activity
IN the shares of these companies.
Several issues participated in the
movement with Anaconda Is reach.
ing ney top price for the year.
Selling of Liberty bonds was
checked today and tho entire gov
eminent, list displayed a firmer tone
Sales $10,644,0OO.
Stock market averages:
twenty Twenty
lndustria1s railroads
~, rIloay ...... l31.36 10S.91*%
thursday .... 136 AZ 10Q %