Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1926-05-27
NEW YORK MARKET
..,... 81 the Days Dealings in all
Fss'u' y the Leading Stocks

"a press)-Construct forces
ela1su oain at work in today's stock
were which moved to higher
malAsas under the leadership of the
grount chemical and railroad
Oh, one of the significant feat
shares, tbs day was the increase in
ures " anticipation, the days sales
pupn..e 7 400 shares being the largest
since May 8. o,4 WINS created NV
Du an-sring of call money rates, an
the of 81 a ton in the United
aasa as steel Corporations price for
s.se, bars, the announcement that
s s.siaht car loadings crossed the mil
n'n mark for the first time THIS year
hoa .,s week ended May 10.
u The weekly steel trade reviews re-
10. that May business continues
PORN Inv ahead of April figures. U. S.
J. o.. ~" common closed a point higher
s ,. 90 IL. after having touched l23.
! NV American B was the leader
ran # the oil group. closing nearly
asa noints higher at II "a. Net
wv If point or SO also were re-
ssarded BY others.
INV ~ explain the sudden squirt in
ne"s identical issues. Commercial
ine .nts "A" and "B" scared five and
s,nst noints to new high levels at
e eisA and 1870 respectively and Allied
|, tr 40 closed IA points higher
o"e MS Considerable mystery sur
Mnded the squirt in the Central Lea
. ioo. issues. the preferred jumping
Ave points to 81 S-s; .
The advance in the local tractlon
, which has been one OF the features
=, recent markets, was slowed up py
u,oft taking, although Manhattan
pnodifed guaranteed crossed 60 to a
nsw high. Motors were again heavy
S desnite the optimistic statement on
|, conditions in the industry by John n.
willis. one of the leading manutac-
turers. , .,
! .ood demad include American Zinc
eeroferred Colorado Fuel. National
|. nstillers, Remington Typewriter.
Southern Diaries A and L. S. Cast
Iron Pipe.
.,cb issues as New York Central,
Erie first preferred, Norfolk and Wes-
form Chesapeake and Ohio and MIS-
souri, Pacific preferred.
Squeezing of the shorts in May
wheat sending that option up IL
CENTS a bushel to S170 1-2, featured
the commodity markets. Cotton ad-
vanced 2 to points on reports OF
unsettled weather. Raw sugar ad-
yanced 1-16 of cent per pound with
A frmer undertone also noted for fu-
lures. Coffee declined Is to 20 points
IN sympathy with the easier South
American market.
Cali money renewed at per cent
and then dropped to 3 IL, closing at
the low figure. Time money and
commercial paper rates were I'M
changed.
Foreign exchanges were irregular
with a jump of II to 14.39 cents in
SPANISH pesetas as the chief feature.
Although the volume in the bond
market continued to expand prices
merely held their ground in feature
less trading. Indications that public
confidence in the stock market was
being restored were accompanied by
waning investment interest in bonds,
with a number of high grade rail-
road and Industrial issues drifting
to lower levels.
Convertible rail and oil liens ana
others with speculative possibilities
continued to find favor with buyers.
Norfolk and Western convertible
lis jumped points following
buying movement in the stock, evil
IDENTIFY promoted by the roads favor
able April earnings showing. New
Haven skies were active and a good
demand developed for other issues of
secondary rating such as Mobile
and Birmingham As and the Frisco
income and adjustment skies.
Sinclair issues wrested the leader
ship of the oil group from Skelly
LIS, which encountered profit TAX
! ing after their recent upturn. Buy
ing OF Pan American, Union Oil or
California and General Petroleum
liens, was natural sequel to the
run OF favorable news from the in
dustry, including another reduction
IN crude oil output on top of the re-
cent advance in gasoline prices.
cuba Cane and American Sugar Re-
nhlng obligations headed an advance
In the sugar issues based on higher
commodity quotations.
Conflicting price movements pre-
vailed in the foreign division.
Alter a lull in new financing the
investment market will be called
upon to absorb about s35,000,00O in
oond offerings tomorrow. A $25,000,-
WV issue Of Ontario per cent notes
swarded to a syndicate headed by
Me First National Bank will be
marketed In the form Of $4,000, 900
sne Year >notes priced to yield 4.3
wr vent and $15,000,000 two year
ppngauons to yield 4.40 per cent.
Suolic offerings will be made by the
Sauonal City Company OF SS,500,O00
ccVflnern Ohio Power and Light
\ sompany rs year IL per cent
s sVnos at price Of 90 IL to yield