Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1926-07-20
SrW YORK MARKET
~ TIE Days Dealings In
s.a'.sa The Leading Stocks

II All ms
\ York, July ls-(By The As
|yeT Press)--speculators for the
csiea continued in control of the
lFance 'vsment in today's stock
kcs nv ~, they were called upon to
R = large volume OF profit-tak-
soO I ssort selling. The average
~ Issding industrial shares show
F sSarate net gain with General
AZ crossing 40 to a new record
toss y, 7 the average Of 20 standard
n. lost ground. .,.o. o.,os
oussu ;nterest conferred in the sem
faa, oollapse Of French francs to
i'l' i,w record for all time around
10y ~, With the exception of
some liquidation of French
s4 he was without influence on
., Turtles markets. Domestic
.sws was largely favorable, al
reported softening OF scrap
~ .i.ss in some districts and the
X n A new oil field in Texas
3.s1,ned some uneariness.
Is sis Motors jumped nearly six
' ~ a. rs on buying said to be
s ". account Of the same interests
ssaye sponsored the rise in
81 Motors from a low of 113 IA
s. record top Of 10 3-S estab-
Y todav. Dodge Brothers A
y; m over a point to So IL and
{r.isr common and preferred and
IN. ,iyanced a point or SO. Jordan
W, broke nearly 5 points to
J Inv for the year at 81.
~ steel common sold down to
i, during the morning but
...i hack to above IA in the late
..,6on closing within a fraction
En- record high. New 1926 peak
y, we're recorded by Texas Gulf
.fssr WESTINGHOUSE Air Brake,
s,s-ans. American Safety Razor,
f.rSdated Cigar, Manhattan Elec-
4 srpplv and Owens Bottle.
m Cast Iron Pipe soare1 over II
ks 10 IA ia.
= regent denial of an increase in
k~bvestern Freight rates has dam
I'M speculative enthusiasm for
A.. ct the Railroad shares.
Trmmodity markets were mixed.
IN prices held firm on reports of
1,tued high temperatures in the
t.tivest, but cotton closed Z to 13
Lt-s lower. Call money renewed at
III Der cent but heavy offerings
Md the rate down to four per cent
i,vri noon. The New York Stock
sEaange reported that the volume
! business was moderate with an
tpIs supply Of funds on hand at the
H. Time money and commercial
Iss rates were unchanged.
iAgte weakness Of French francs
.fusht about sympathetic selling of
Er continental currencies In the
kygn exchange market, but de-
fsM sterling held firm around 4.S6.
Irnssttlement of French obligations,
VIII we're depressed by the fall of
4 BRAND cabinet and the plunge
n lie franc to the lowest level in its
'afWy, was the feature of the ir-
Enla bond market. Domestic issues
IFaed no significant change of
k1i liquidation of French securi-
fs while not especially urgent. re-
Iatei further loss of confidence in
Elity Of the government to straight
IN out Its financial affairs.
The selling movement embraced
sifaly all the Republic and Rail-
Ny issues.
Price movements of domestic is
ls were narrow and conflicting.
Trading In railroad liens was re-
priced Great Northern and North
n Pacific liens were conspicuously
Paw Seaboard Air Line Console
Eisd It's were urned over in large
Plume around IS 1-2, the price at
hhch new 100000 issue will be
Fsrseted tomorrow.
International Mercantile Marine IS
Ehcn broke 4 points last week upon
L breakdown of the deal for dis
ia Of the White Star Line, re-
EVered slightly on reports that eff
tgS might be renewed to sell the
~ to other interests. American
Esephone 4 lbs and International
Eaephone LIS were among the in
kpendent strong spots in the public
Filitles group.
Total sales were $780,, 900.