Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1926-06-08
vry YORK MARKET
% the Days Dealings in all
features he Leading Stocks

r.rr June 7-(By the Asso-
New nsnss,-An outburst of buy
tsteo I'd prices sharply upwards
/ ms esii't the close of today's stock
tMa ss- after an early perNa Oh ouii-
n %. and irregularity' s,so,oso, .
closinte Of net gains ranging from
hng iis' noints interspersed with
Ito oaller number of losses,
rucn which were of a fractional
nasi :. Total sales were l'lo7'-
wv was nothing in the days
l Tne.o account for the sudden dis
Nv Of Strength .s won't
~ s Steel common was prolnl-
!. The recovery, moving up a
rsnI new high on this current
pnl ~ -, 127ls, independent steels
Tins .;sn,ayed a strong undertone.
80 .sent stiffening tendency In
Wv nrces Of certain steel products
y. attracted fresh buying 10 'he
E re-, s of a price cutting war be-
NUM- the two largest interests in
WEI notor industry had a restrain
The n .sect ON trading in the motor
4 ing but special strength devel-
fnaisI,, !, willis Overland common,
egsa ,, advanced / 5-S points to ~
4 Sn' ..taI sales of nearly 10000
y Buying Of this issue was
s.ssS on large current earnings ana
e Oaser that the company was PLAN
lsps The early introduction of a new
alas ma passenger car similar to the
n ~. cars used abroad. General
, ss5t closed unchanged at 129 rs
NV suctuating within a narrow
range, .rd urcont short
..rcrins we're apparent in several
..o.cialties. and International Com
Sstion was bid up nearly points
sTS. and net gains OF TO
.oirts were recorded by American
T gg Works, Case Threshing Ma
,siDs Central Leather preferred.
a cnsSman and Sons, Foundation Co,
\ s.rsral Electric, Midland Steel Pro-
4, S S,lt preferred, Pacific Gas, REM
suy typewriter and U. S. Indus
p Pals we're quiet hut firm. Pitts
u ,rroh and West Virginia was run
.s points to 107 on few sales:
pullman climbed nearly four
Il ,,oIrts TO a new high for the year
III lTsh In anticipation of stock
l Siyidend at next months meeting or
1 me- board of directors.
| The commodity markets also
,ointed inward. The distant wheat
1 sntions advanced more than cent
j bushel on reports Of unfavorable
Il sron weather. Cotton fluctuated
y within a narrow range closing 3
n noints net higher to six points net
II loVer Sugar prices held relatively
\ steady. Coffee advanced 1-3 to 20
II points on reports that the Brazilian
/ loan had been heavily over-sub-
cribed in London.
/ Call money renewed at 4 per cent
| and held steady at that figure all
9Jav, Time money rates were un-
| changed but Commercial Paper
| rates we're easier, being quoted at
l3g and 4 instead of on per cent
basis. Foreign exchanges were ir-
| regular.
J Bond prices drifted aimlessly In
| dull trading as investment funds
| we're withheld from the market in
anticipation Of a large volume Of
4 new financing. Buying interest was
1 aroused in a few semi-speculative
issues but fractional price changes
1 we're the rule and no definite trend
was revealed.
| The Offering of a s40000,000 four
4 per cent bond issue for the Southern
| California Edison company, orisl-
@ly scheduled for next month, has
4 been advanced to this week and will
he brought into the market within a
| day or two through syndicate
4 headed by Harris, Forbes & Co. The
l bonds probably will be priced slight
| y below parity. A $15,000,000 issue
vas sold for the Detroit Edison
company today and another $15,-
| 100000 block of 51a per cent bonds
4 for the Prudence Co., Inc, will be
| offered tomorrow at par. Later in
ihe week 100000 of Cities Service
7 Co, per cent debentures will be
| placed on sale.
L The sustained strength of German
Z Obligations today was linked with
reports that important German fl
hancing, possibly in the form of an
} additional bond issue for large
| steel company. might be attempted
here soon. German government IS
reached a new top price at 1O4@
and lively demand developed for