Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1926-08-28
NEW YORK MARKET
..,,.. OF The Day's Dealings In
fsa''A All The Leading Stocks

,v. forces were again at work IN to-
NV. stock market. which was fea-
.. nv a revival Of strength and ac-
wa, IN the oil shares. Weekend
A .st taking was rather heavy in the
NERAL Industrial list but offerings
we'll absorbed, closing quotations
...,o.,ng a long list of net gains
..,S one to II points. Business. how
go, was in reduced volume. total
.,,s, being the smallest in about q
month.
Thu DAYS business news was largely
,rIlish in character. The weekly
pa-c.ntile reviews reported further
Movement in most lines of industry
..nsoush heavy rains over q wide
I'D area have retarded fall buying
sp eon,s lines. Reviews Of the oil in
~ M called attention to the fact that
Gus. ".ord volume of gasoline was being
Maa at firm prices, no important
na,n,tion in tank wagon prices having
...n made this year. Last year several
', ~. large refining companies cut
s..ss IN August, with the prevailing
Yn,,stion then several cents a gallon
saow the current prices.
pals made further response to the
casually favorable July earnings re-
49,, The combined net income Of the
~, "A class one roads to report being
".ar,v 20 per cent. above that Of July
NO.; Atchison and Southern Railway
...,.b,;shed new high records for all
.;.. At 1914 and 1898, respectively,
while Union Pacific and Great North
',rn preferred touched their highest
,.r.,s in a year or longer. Atchison's
~, income last month almost doubled
,s.t of July last year. sS.446.s43
against s4724,336.
paving Of the oil shares derived
ANNA stimulus from the publication
~ The semi-annual report Of the Pan
Amsrican Petroleum & Transport Com
n.nv showing earnings Of 1886 a
sbare exclusive of any earnings of the
I,go Petroleum & Transport Compa-
nv IN which It has major interest.
RESUMPTION of active bidding for the
General Asphalt issues sent the COM
mon I'D FIVE points to 90s and the pre-
ferred up Z. to 1888.
Amalgamated Leather responded to
,ss publication of an unusually favor
.hIs seni-annual report, crossing 20
~ the years high. New 1926 peak
nrces also were attained by Bruins
wick Bake Collender, Howe Sound,
Union Tank Car, White Sewing Ma
chine and several others.
Call money held firm at per cent.
Time money and commercial paper
rates were unchanged
Foreign exchanges fuctuated within
A narrow trading area, sterling yield
cd. however to the pressure OF grain
and cotton bills, the demand rate rul-
ing 3-1s of cent lower around
1854 Ills. French francs were firm.
Revival of c.ivity and strength in
the French issues, several of which
touched new peak prices, and
steady underlying investment de-
mand for the rails, featured today's
firm bond market. Trading in the
general lists was rather dull. due
largely to the fact that the activity
Of traders was centered largely on
the distribution Of recent offerings.
The improvement in the French is
sues reflected the progress toward
fiscal reform being made by the
Poincare government. The decrease
Of over 100000 francs in the note
circulation Of the Bank Of France in
the past three weeks has gone a long
way toward reviving confidence In
the securities of that country. French
government Is and IS touched new
high prices for the year at 90 IL and
1903 7-8 respectively. while West Rail-
way rs attained new top at sc Ia.
South American issues also dis
played frmer undertone In response
to the prompt sale Of the recent S10,-
100000 Chilean government note is
sue. Argentine IS Of 1859. Bank OF
Chile 8 3-4s and Bolivian IS Of 1947
all sold at the years best prices.
Mexican issues held firm. Consider
able activity also took place in Ger
man bonds but price changes were
narrow.
With the first 40 class one railroads
70 report for July showing combined
net operating income nearly 30 per
cent above the same month last year,
railroad liens continued to attract In
terest. Alabama Great Southern 5s.
Delaware and Hudson convertible 5s
and International Great Northern adj
1ustment IS being bid up to new high
levels, while several others duplicated
the years top price.
In the industrial group American
Whiting Paper issues made further
response to the announcement that
the reorganization plan had been
made effert{ya Ueokpeaa CrOnNed
out however. in a few issues, Sicily
OIL sl-2s breaking IL points on
few sales and Robbins and Ayers rs
dropping two points to new 1926
low at IS.