Douglas daily dispatch., 1926-08-10
PRICES TAKE A
JUMP AGAIN ON
MONDAY SALES
(By Dispatch A. P. wire)


NEW YORK, Aug. s.-Buiiish enthus-
iasm ran rampant In todays STOCK
market With Wall street literally
flooded with rumors of mergers stock
splitups and increased dividends, spec
ulators for the advance, aided by rela-
lively easy money rates, had little dlt-
!ficulty in marking up scores issues L
to Is points. At the close, the aver
age of 20 leading industrial issues
stood at a new high level for all time,
while the average of 20. leading rails
was at the highest figure since 1913.
Commission houses reported marked
expansion in public interest which was
reflected in total sales of well over e.
100000 shares.
General Motors, common, and U. S..
Steel, common, again established new
record high prices at 225% and 1854,
respectiyely Motors later sold down
to 222, where it was up points on the
day, while U. S. Steel,I common, closed
at 154%, up 81. Directors of the Gen
eral Motors corporation meet Thursday
and Wall street hears that a stock di-
vidend of so or 100 per cent will be de-
clared, together with an extra cash di-
vidend of at least $4. Buying of steel
was influenced by. predictions that the
July untitled tonnage statement to be
| issued at noon tomorrow would show
/ an increase of around 100000 tons,
which would be the first, gain this
F.! year.
| Publication Of another series of semi
annual dividend statements disclosed
that not all companies had shared in
the widespread prosperity of the first
six months Among the companies
whose earnings fell below the first
half of 1925 were Foundation, Ludlum
Steel; Fairbanks, International Cement
and National Enameling and Stamping
On the other hand, substantial gains
reported by American Steel Foundries
Schultz Store corporation and National
Public Service corporation.
Special movement developed in a
! wide assortment of industrials. Ali
Reduction was marked up over II
points to ne wpeak price at 145s on
reports unusually large earning IN the
! first six months. Dupont, which has
large General Motors holdings, touch
! ed new record top at 319 and then
dropped back to 310R, up 81 net. Some
i striking gains also were recorded IN
1.-THE rail group. "Big Four" scared 1S
points to a new top at 250 Atchison
touched the best price ever recorded al
1431h. and New York Central topped al
quotations for the last two decades. by
selling at 1914, although it later slip
ned back to 1885, Union Pacific, South
ern Pacific, Southern galway anc
IChesapeake and Ohio also reached new
high grounds. An extreme break of S.
: a bale in cotton prices on the publlca
ton of a government report showing al
estimated yield of 15,621,0OO bales, OF
: about 1 ,00O, 900 more than was expected
featured the commodity markets
Wheat advanced slightly in response t.
an unexpected demand in Liverpool
Raw sugar advanced 1872 cent pount
and coffee closed higher.
Call money renewed at Az per cent
but was marked up to 4 " at the close
confident with the calling of moder
ate amount of loans. Time money ant
commercial paper rates were unchang
ed. Time money and, commercial pape
rates were unchanged. Foreign ex
changes were irregular, demand sterling
= was slightly firmer around $4.S5 1915
French francs dropped over Z points t.
around 2.92A cents, presumably OF
selling inspired by the announcement
that the Coolidge administration re
garded the French debt settlement ne
: SOtiatiOnS as closed,