Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1926-06-23
new YORK MARKET
80. of the Days Dealings In All
features .hs Leading Stocks

4he L6dutiS SNSSNS
=, York. June 22.-(P)-Run-
AZ Demonstrations in a selected list
u n and railroad shares featured
. s irregularly higher stock
W. 'sst which was called upon to
p a..,n rather large volume of
~ ...,aking. Trading showed
~. Wv falling off in volume, the
u,. sales aggregating 1,SSS,7oo
~ ~, compared with 1,s41,2oO yes
as ~ and 2.23O.60O last Friday.
@ ,1.,rsr reports involving several
Aas california and mid-continent
q In sr,es combined with reports
t,.asa current earnings and Off
q M .ssurances that trade condi-
~ were satisfactory. provided the
aSI srronnd for the advance Of to-
N.Y. Union Oil of California, which
q. beep associated with two or
" other companies. consolidation
nr rvs rallied . points to IS.
-..sllent May earnings q reports
ilV.saS the basis for the advance
.al .so railroad shares, the average
!, ~ leading tndustrials In that
y .. ~ touching a new high record.
' p-oat taking was particularly
fs n~ IN some of the standard in
,s.risls, althouh I. S. Steel COM
sls~ developed an outburst' of
nun -th IN late trading touching
t ~ srd closing at 1854. General
H',o VS. Baldwin. California Pack
wv " Coca Cola, Marine preferred.
y ~ Truck, Pierce Arrow. Postum
s.rsa, and Woolworth all sold down
70 points.
pooIs were again active in a num-
w. " snecialties which have prom
s'irr dividend or merger posslnlil-
~. ss' pullman touched lS2i2.- the
s W; price in IS years, and net
..ins Of 2 points or more We're re-
! a.ded bv Atlantic. Gulf and West
,.i;ss Howe Sound, Federal Min
and Smelling preferred, Great
~ w Sugar, Simmons Company
'nS sloss sheffield Steel.
rorroditv markets moved within
. rUp, and irregular limits. Active
M s.ot f1tures Welded slightly in re-
s., st of favorable weather reports
Y .Sa northwest cotton closed "a
..;rts higher to 5 points lower, with
r. strength OF near months con-
.-'c-s as the feature. Raw sugar
- -s.' unchanged, but the futures
w,rset was slightly easier Coffee
,bsed unchanged to points lower.
Cal csu money renewed at "A per
.,rt w. and held steady at that figure
N dsv Banks called about slo,-
an NM IN loans but there seemed to
!. nIenty of funds available at the
.nsraI rate. Time money rates
y,re slightly sitter. being quoted at
~ IA Az. Commercial paper
nfes we're unchanged.
Reactionary tendencies predoml-
,,tpl in the foreign exchange mar
st Demand sterling held firm at
IA S-16. French francs broke
,hout points to around ESQ IN re.
ssction Of the difficulty experienced
~ PREMIER BRAND in forming
french cabinet. but they recovered
I'm their loss in late trading.
A, upvad movement in railroad
md oil liens, paralielng the advance
IN the stocks of these companies,
marked todays more active bona
adnC Foreign Obligations were
firm but the buying power which
lad made these issues the feature
n recent dealings began to show
signs Of exhaustion. A broader de-
msDd for all classes of rail securi-
ties was attributed TO the continued
Improvement in earnings reflected IN
hs Nav reports now reaching the
public and Indications of progress on
The Nickel Plate, Southwestern and
other pending mergers. -.
maze of merger rumors coupled
With optimistic expressions on the
trade outlook by leaders in the Oil
Industry, aroused fresh speculative
interest in the petroleum issues.
Sicily 6 1-2s jumped more than Z
points 10 above 40, with a quiet de-
nand evident for Sinclair 6s and
ieens. Union Oil OF California IS
and California Petroleum LIS. Re-
trsanization developments helped
the American Writing Paper issues.
Several new high records for the
year were established in the foreign
list although gains in some instances
we're reduced or cancelled before the
close Great Consolidated Electric
Power of Japan Is, Dutch East In
dies is, and RheinClbe Union IS.
we're among the issues which sold at
lie years top prices.
Total sales we're $11,56700o.