Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1926-04-28
yrW YORK MARKET
,f the Days Dealings in all
ttarss n. Leading Stocks

/
,,rk April 27.-(By The As
|NsT Ore Dress 5--Further Irregular
rs.t.sSas,oped in today's stock mar
a eth trading showing a further
WIZ in volume. Net gains and
lSa pay. we're about evenly divided
lOsse o1ose Banks called about
o. % ooO in loans during the day
esI psnt the official call money
90 I'm n' at 3 IL, although the rate
is s.aed in the outside market"
s's Mot financial news develop
ae = The day was the placing of
" stock of the United
= Steel Corporation on a regu-
s,rsI basis of Z per cent
sn he declaration Of a quarter
o9us,i I of S1.75. A regular
an I'm dividend of $1.25 and an
nS VI 20 cents have been paid for
% t ~ years. Total earnings of
.arnoration for the first quarter
, r%p were s45,061, 2S5, compared
~ 90 ESQ. 465 in the preceding
,,.r and $39.SS2,992 in the cor
.naing period a year ago. U. S.
i con common fluctuated between
and 122 IA, closing at 12l 1-2,
t.eanged on the day.
I,-,ding in the general list was
.slr If a professional character.
1pbIjc participation still nomin-
ysvs developments continued
t.w favorable with several splen-
narterly railroad reports max
III ,Ssir appearance during the day.
,anri Pacific earned S1.07 a share
Nh ,Se common in the March quarter,
first Ss cents in the correspond
III Oeriod last year.
sIvo,ors we're subjected to further
d ~sre but the selling generally
III well absorbed Two of the most
lLrps,ing automotive trade devel-
Fonts of the day were the earn
n \ report of the Pierce Arrow
fwoany. showing s3.2S a share
aIrA on the preferred in the first
- months as against S1.6S in the
quarter of 1925, and the an
2 rncement of price cuts by the
N pklin Automobile Company.
1 isOn was driven down to Go rs,
AZ rallied 10 66 IS, off 1 IA net.
q tera Motors closed a point high
.rYlT rs after fiuctuating between
MI IA and 1913. Mack Trucks show
~ small fractional loss of lis IL
!; H. having sold down to III IA.
hsEss buying of Shelly Oil which
osthed new high for the year al
81 was based on rumors that nego-
Mons were under way for the
tger Of that company with some
tldard Oil unit. Dawson Chemical
ied up point on heavy turn
n with buying based on reports
steadily increasing earnings.
activity also was apparent in
Lumber of other industriaIS and
| specialties. with net gains of a
MI or two being recorded by Col
hio Fuel, Famous Players, Coca
et@ Loews. and several others.
!, Marine preferred fell back l 1-2
HHs to 40 IL on the traditional
JIM Ins on the good news which
tiJbTed the announcement of the
1psed sale of the White Star
~ To- umess Witty and Company,
ia Morgan Grenfell and Company
al Ged heayiness also was apparent
IBush Terminal, Foundation Com
, ~, Hartman, National Dairy Pro-
n Us Radio Corporation. Shubert
laIes Tobacco Products and
. ,AelWorth.
, als held relatively firm with
!, elce of investment buying in
Id e Of the northwest issues, which
ITto had been neglected. Some
gains were recorded by ordin-
inactive issues Big Four
tnon jumped 10 "a points to POS,
4 locking Valley scared % points
~ both record highs.
PIE commodity markets were mix
Changes in wheat prices were
Nov and irregular. Cotton ad-
eG IL to II points on more en-
: asng reports from British cloth
sets Raw sugar was unchanged
!. TIE futures We're slightly high
llc' Coitce closed / point higher to
points lower.
IN Establishment Of the highest
'uil since l923 by japanese yen at
~ ,lo cents featured the irregu-
J, Foreign exchange market. De-
sterling was slightly easier
. ~ ASJ rs and French francs
down a few points to around
!. %nts Belgian francs held rel
!, Wy steady just above $50 cents.
y Nna'es approval Of the Belgian
ment apparently having been
lpated' A slightly higher pre-
lor the Canadian dollar was
ueo by reports of new gold
aeHS to-Alontrea.. Spirited bid :
lot special issues strengthened
III vuaq today although trading
Mol througah with confusing
u currents. Tighter money con-
~ resulted from the calling of
n.s oahs' causing a restriction of
ay III investment dealings.
a.c nuetuations in internation-
LIN .ahtile prices provided one of