Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1926-06-17
saw YORK MARKET
:, ,he Days Dealings in all
.a,uf0 81. - Leading Stocks

4 .rx June 10 (By The AS
4 ~ iv U,ress)-Stimulated by cas-
| cb,M :. rstes and reports Of fur
ssnrrrsrovement IN the steel In.
III ops,b brisk pace in today's
bat a.,rket under the leadership
ea NE S,sh grade industrials. Wire
Do nn,ission houses reported a
s,sstial increase IN pubic d,s par par
.aon. the days sales again run
$p's sIsse to 100000 shares.
steel common and General
Y : we're again the individual
r,sn.. , the former touching 139.
ral'1ssii sh for the year. and just a
~ u ~ a point below the record
FM time established on No
- i@ last, while the latter
T as.u Their strength. combin-
l ,s that Of Geneal Electric Gold
nn rSich closed ~ points high
lfa sss and Marland. which
tn new high for the year at
Ea.. other so-called Morgan
y. y. had a bullish effect on spec
'saVs sentiment
,.cent strength Of the market
~ Nan attributed. in part. to the
~ Investment demand for high
Z. dividend paying stocks. due in
jra, J. the relatively low yield on
u y lass bonds. The decision Of
Y rrited state treasury not to do
srancing this quarter has made
liable over sSOo,oCO,oOo for In
a .~snt part Of which is believed
s.v. found It's way into the stock
q. .sst The announcement that the
- trade balance in May was
ss.rahle" for the first time this
=, also has had a temporarily
,Hsh effect.
Nj. which were one OF the fea-
W.. of Yesterdays market. failed
,,,ract much of a following to-
~ although Panhandle Producers
~ peAners touched new high
...,,s At 29& as compared with a
- n ~ earlier In the year.
rmjnment shares were heavily
.rst, on the theory that record
,ssking freight traffic would COM
i me- railroads to add to their roll
s stock
& Cast Iron Pipe scared II
sipts closing point below the
sp
sDsclsl buying also took place in
rnmber of the low priced special
~ ], r. Thompson touched a new
I'M for the year at As on reports
s,f net earnings OF 1925 TO date
ays exceeded The full years divi-
hri requirements. Case Threshing,
rbirb sold as low as IA in 1924,
rped over I points to A new high
4 lOls in reflection of the remark
m. Improvement in the company 8
t.ancial position in 'the past few
sorths.
Other outstanding Industrial
rTong spots included American
Agricultural Chemical preferred, A.
III Byers, Christie Brown, Du Pont,
Otis Elevator, Remington Typewrit-
n Simmons Company, Sloss Shelf
ssH Steel, Universal Pipe common
md preferred. and Woolworth. al!
W three points or more.
Speculative interest in the rails
vas confined to few issues, Allan
ar Coast Line standing out with a
gain of "a points at 2l212. May
anings statements, which will
shortly make their appearance, ara
expected to compare favorably with
hose Of the same month last year
The commodity markets displayed
[ firm undertone. Wheat futures
|uyanced briSkly in the early trad
ag but lost most of their gains be-
tore the close. Cotton closed . to
u points net higher. Raw sugar
vas unchanged and coffee advanced
i to "A points.
Call money, after renewing at > g.
per cent dropped to II, closing at
he bottom. Time money and COM
ntcial paper rates were unchanged.
Foreign exchanges displayed a dis
hctly improved tone. French francs
allied over Is points from the recent
av level to around go cents. De-
nand sterling was fairly steady
HOmd s4S6 SIG.
The bond market was forced to
compete with large volume of new
Nahelng, but prices We're well main
alhed In moderately active trading
asler credit conditions promoted
ready accumulation of investment
eAsations without any striking
0aage in price movements.
trading interest in the foreign list
vas transferred from the European
saes to the Japanese, with the gov
alhents s l-2s and second As as
WI as the Toho Electric Power
aads advancing to the years high
" prices. No explanation was ad-
saced for the revival of interest in
a's issues, except the natural ten
sa'y OF buyers to seek out attrac-