Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1925-12-15
Financial
NEW YORK MARKET
Features OF the Days Dealings in All
the Leading Stocks

New York, Dec. 14.-(By The
Associated Press )-Heavy buying
of the railroad shares featured the
resumption of the upward movement
of prices in today's stock market.
Waves of profit taking and bear SELL
ing swept the market, at intervals,
but offerings were generally well abb
sorbed. Total sales ran over one
and one-half million shares.
Renewal of selling pressure
against French francs forced them
down several points to another new
low record for the year at $50 1-2
cents, with selling inspired by Paris
reports of a possible dictatorship as
means of extricating the country
from its financial and political diff
culties. The commodity markets
were reactionary although the net
declines, as a rule, were small.
Persistent accumulation of the
railroad shares apparently was based
on reports of large current earnings,
prospects of favorable dividend de-
velopments by some of the large sys-
TENS, and expectations of construc-
tive merger legislation by congress.
The demand embraced a wide list,
with new peak primes for a year, or
longer, being attained by Atlantic
Coast line, Chesapeake and Ohio
common and preferred; Erie COM
mon, Chicago and Northwestern, Pc
oria and Western, st. Louis South
WESTERN New York and Harlem, and
Nashville, Chattanooga and st.
Louis, the net gains running as high
as "a points.
The average of 20 leading railroad
shares. compiled by The Associated
Press, touched a record high level
at 115.lS. as compared with a low
of 96.13 earlier in the year.
United States Steel common show
ed small fractional gain at 135 IA
but some of the Independents devel-
oped outstanding strength. Gulf
States Steel advanced over 3 points
to ~ "a, Crucible closed about a.
point higher at 81 5-S, and steady
accumulation of Ludlum sent that
Z STOCK up to .! Sd, duplicating the
record high, Sloss- Sheffield broke Z
points on profit taking.
American Can, which is exneota cd
TO split up its common stock in fu-
lure, jumped 5 points to a new rec
ord top at 263 ID About scora
OF other industrials broke throngh
their previous 1925 maximum nrices
the list including Artloom. common
ana preferred, Allis-Chalmers An
ericdIi brake Shoe and Foundry.
american Ice, Bush Terminal CO
tinental Can, Case Threshin, MI
chine preferred. CrucibIe Steel Nc
ierred, Consolidated Cigar. FJa;sch
mann; Jewel Tea, Mathieson AISon,
New York Gamers, South Porto N Pi
can sugar. United Railways ana IN
ses.ment preferred and Viyadou
Other outstanding ;nS,,s..
s.long spots were American I;nsaos
SConlon and preferred. Anacnnda
Topper. Dawson Chemical. FonnHa
lion Company. General Elec,r;n Ma
Iine preferred. Murray BODY Sayaa a
arms arms, United Fruit and west ase
pnion. all up 2 to 8 points IT
Rupoer and U. s. Distributins ~ o.
mon We're heavy. ooli-
Can money renewed at 8 narcen.
snu tnen advanced to S 1-2 cIos;rg
=. the top. The higher rate nras
ply reflected the increased de-
nano Tor funds in connection with
income tax payment and heavy Gov
nment financing tomorrow. Time
money and commercial paper rates
were unchanged. i".es
french francs rallied to around $50
N1M N the late afternoon, the de-