Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1926-05-05
,rW YORK MARKET
- the Days Dealings in all
kisprss .hs Leading Stocks

strike in Great Bfltaln.
sEal ere carried down 1 to 3
ss : WI" the first outbreak of selling,
Erts u reaction did not bring out
p,ouidation and prices rallied
1s as during the afternoon.
~ quotations were Generally
us long list of active issues
ns, net gains of l to 6 points
aslasa sv Total sales were 1857
~ , us compared with 1861
;. nrices we're the hardest hit
aasa. strjke news, breaking "a to
w &c bushel. and then rally
FHarhtly. May wheat closed at
bushel after having sold
10 sl.52a. Cotton held rela-
y " steady. Foreign exchanges
a ,aavy although sterling was
80 supported by buying repor-
as y, for the account Of the Brit
wDsrnment. French and Belgian
!. touched new record low levels
~ and $40 cents, respectively.
'. ..,mness with which the Lon
ssrkets accepted the strike, the
I..i,nation of easy money rates and
Instructive nature of most of
1 avs domestic business and
,uss reports helped to restore
W. in the market. There
-.s 10 be a rather general opin-
= financial circles that the strike
Ia be of short duration and that
y. .drerse effect on our business
\, Great Britain would be COM
aa,,sd by increased business i'll
y. Countries. particularly those
!. S ~ British competition is a Sc
s,s,Jsrd industrials and rails took
rmmInent part in the afternoon
Z r s. Steel common touched
n. and then eased slightly for a
ain Of IL points on the day
~ having sold down to 120@s dur
the morning.
~ TO SlSl2, closing at 317A for
u n gsin Of "a. American Smelt-
Consolidated Gas, Dawson
fsmical. Famous Players. Mont
nsy Ward, Postum Cereal. Pull
= Radio Corporation, L. S. Cast
/ Pine, Ward Baking "B", White
Ems and Woolworth were among
II many issues to close to nearly
y points higher. Sloss-S Sheffield
Vi was run up points to 11S on
4 rrg influenced by reports of spe-
/ deyelopments favorable to stock
liars Dupont jumped over points.
I'm, were in steady demand as a
spIt of recent constructive trade
5nOpments. These included the
4tation of statistics showing an
gas~ of ESQ in the consumption
1 casoline in March, predictions
I The net earnings of the Standard
d Company of New Jersey would
ND s1C0. 100000 and the an
Tcement that gasoline stocks on
I'M / represented only 70 days
IppF against 81 on that date last
IN Atlantic Refining rallied )
sts TO 1l61s and Colorado Fuel,
1wal Asphalt, AIid-Contincnt and
handle Products all advanced a
lt or two.
dEsh grade rails, large blocks of
igh are held abroad, We're heavy
gng the morning but rallied with
rest of the list during the after
i Atlantic Coast Line advanced
points to 1873 and Northern Pa
Il Union Pacific, Delaware and
bison, Pere Marquette and some OF
l0ver priced issues such as St.
n preferred and Western Pacific
sd a point or two higher.
Hon money held steady at 3l2%o
4 day. Time money and CONNER
| paper rates were unchanged.
aarling cables held firm around
1.2. Norwegian kronen broke
faly Is points to 21.72 cents but
Rcessions in the other European
lencies were nominal.
Dictionary price movements to-
continued to express the BOND
fgkets reaction to the general
bic in Great Britain. Despite the
un Of easier money conditions,
apOt was withdrawn from all
SeS Of bonds and a general drift
! ower levels took place.
Mic pronounced weakness OF
Pinch and Belgian currencies.
ah dropped to record low levels
4alhd with the strike develop
Fis contributed to the unsettle-
fat Of foreign obligations. United
asdom LIS. of 1897 receded
(eionally to the lowest price of
year and losses of ] to : points
q common among French, Bel
a. SwisSand Polish issues. Some
the selling was ascribed to fears
polongation of the British Ia
troubles would interfere with
s for extending international
Eellaton credits to the continent
Countries. Mexican bonds were
only strong features OF the Tor
list several advancing TO the
IN prices Of the year.
slet and orderly liquidation OF
aeStlc liens caused moderate re-
fsoAs in representative railroad
/ Industrial issues, although the
fEOyement in the stock market
brought about partial recover
4, The general disposition of
aes was to withhold orders pend
more definite news regarding the
Nu' and effects of the industrial
III in England.
@lang activities in the railroad
Wy We're confined mainly to semi
Sslatlve bonds, indicating that
a%ualion of foreign investment
Jugs was not being extended,
@go Milwaukee. and Pudget
sss u IS, Canadian Pacific As, Erie
,setuole As, "A" Illinois Central
n.y.. ~ International Great Northern
t nss!nt IS and Norfolk Southern
s 5s were heavy.
national mercantile marine
nae driven down more than two
3mS 70 70 on fears that the strike
INIT % adversely affect the company's
I.rotisss, as we'll as hinder pending
/ "A | Isohs for the sale of the White
h , nine but part of this loss
ssaihed. Skelly and Sinclair
kali,;s,aNes overcame the pressure of
lsbsr sales and closed slightly
Srhs. ements for new financing
Itds :. so'5oo,000 6 1-2 per cent
(onnsum, the General Public Utilities
Pony and S3,S0o,O0O of Standard