Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1925-09-19

Atlantic coast line jumped over four
points to record top at 201 and then
sagged below 200 on profit taking.
while net gains Of point or more
were recorded by Great Northern pre-
ferred, New York Central, Frisco
common, Seaboard Air Line, Wabash
common, Western Pacific, Canadian
Pacific, Texas and Pacific, and few
others.
Railroad equipment issues moved
in opposite directions. Baldwin was
run up four points to 124 and Ameri-
can Locomotive, General American
Tank Car, General Electric. Westing-
house Electric, Westinghouse Air
Brake and Lima Locomotive closed !
to 2 IL points higher.
Pullman broke over eight points to
165 and then rallied to 1853, the SELL
ing being inspired by an official denial
of rumors that capital readjustment
was impending. New York Air Brake
broke six points to a new low record
for the year at 80 on runors ques-
tioning the safety of the dividend.
General Railway Signal and Railway
Steel Spring each fell back about two
points.
Detroit Edison was the outstanding
feature in the public utility group.
scoring an extreme gain of over 13
points at 1873 IL, record top, and
then slipping back to 147 81 on re-
alizing. Brooklyn Edison, Montana
Power, Market Street Railway pre-
ferred, Western Union and West
Penn Company, all closed to 4
points higher.
A sudden outburst OF buying in In
ternational Harvester carried that
stock UP over eight points to 1913 Ia,
the highest price in five years. Hud-
son Motors assumed the leadership
of the motor group by jumping five
points to new top at 3-S. Other
outstanding strong spots included
Kelsey Wheel, U. s. Cast Iron Pipe.
Dupont and Frank G.. Shattuck, all
up 4 to 6 points. Weakness cropped
out in Brunswick Bake Collender.
Famous Players and White Rock.
Time money and commercial paper
rates were unchanged.
Foreign exchanges moved IT.
| regularly lower. Demand sterling
eased to S4.S5 5-16 but French francs
were slightly firmer around Az "
cents. Italian, Belgian. German and
Danish currencies showed moderate
recessions but Norwegian kroner
and Spanish pesetas were slightly
| better.
Withdrawals of money from Wall
| Street by out of town banks, follow
ed by a sudden stiffening of the call
loan rate, turned the course of bond
| prices downward today after an ear
ly advance.
New York, foreign railroad and
| industrials shared moderate gains
before buying enthusiasm was
dampened by the tightening Of mon.
| ey and several of them maintained
their strength until the close of the
market.
Mexican bonds rallied briskly on
the announcement that Finance
Minister PAM was on his way to the
United States for a vacation and
presumably would come to New
York to discuss a resumption of the
debt agreement. Advances of one
to 2 1-2 points were registered by the
assented issues.
The Florida land, boom continued
to show it's effects in excited bidding
for the Florida, Western and North
i ern Z per cent bonds, which carry
warrants for stock of the Land
! Company of Florida. The rise in
! this company's share on the curb
market brought corresponding ad-
vance in the bonds. lifting them to
a new high record at 1877 before they
eased off at the close to 1872, net
| gain of ten points.
High grade railroad bonds as a
group lost ground, but some of the
semi-speculative issues readily at
tracted following. The most ac-
tive buying was noted in New Haven,