Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1926-06-15
yrW YORK MARKET
~ the Days Dealings in all
fssu''' he Leading Stocks

VII .June 14-(By The AS
i MN press)-The upward move
f.s's y stock prices entered upon
s:n ~. - week today despite a rather
IS gu "olume of protit-taking. The
ss las more effective in the rails
flns, tbe industrials. bulling dem
VI i.ions in the latter group car
'ora than a score of issues to
fgs .rh levels for the year or
~ ne Trading was in very heavy
..se the days sales assregating
Y ggSOo shares, as compared win
5s.oO on Friday
,rs that heavy liquidation 70
n lfaa funds to meet income tax
ra'luv tomorrow would bring
sharp recession, proved to
lhu sonnded Neither was any arA
naid to the further collapse
french francs. operators for the
! apparently derived encourage
M from the stiffening price ten
s ,.o, of certain basic commodities,
] sGntp otblehem steel Corporation an
asIoro an advance of So a ton in
Sul ar;re of structural steel while
q pm metal was slightly firmer at
u NJ cents a pound.
| Gsneral Motors resumed the lead
I ,s6ip Of the advance by crossing
" n ihe highest price on record,
~ a net gain of 3 points on the
w. and over II points above last
W %o9,day's final quotation. With
A wings of the corporation breaking
q rarords in the first half year,
III Street heard all sorts of stories
,.Sarding probable dividend action,
} ~ latest rumor involving the declar-
Han Of a 25 percent stock dividend
4. the next meeting.
7 Active short covering also took
,,.co IN other motors. Net gains Of
w. N nearly 3 points also were rec
oried by Chrysler, Fisher Body, Hud-
,o- Motors, Indian Motorcycle, Muir
r.r BODY, Pierce Arrow common ard
referred, Studebaker and White
Motors.
Heavy buying Of L. S. Steel COM
non carried that issue to III ga, Or
within a point of the years high. but
Il lost all Of the days gain on heavy
realzing. The independent steels
showed mixed fractional changes.
Strong spots among the specialties
,nEmded American Brown Boveri,
Tahfornia Packing, Case Threshing
Machine, Devoe and Reynolds, Cen
eral Electric, Gimbel Brothers, In
tetnat:onal Harvester, international
Telephone, S. S. Kresge, May Depart
ment Stores. McCrory Stores j.
Montgomery Ward Postum Cereal
and Woolworth. all up 2 to nearly
I 5i-2 points.
Atlantic Coast Line, which ad-
vanced two points to 212, was one of
, the few railroad shares to move 10
higher grund.
The principal commodity markets
displayed firm undertone. Active
wheat futures showed little change
although distant options were in
b clined to heaviness. Cotton advanced
about 81 bal in ethe early trading,
but failed to maintain its gain. clos
ing at net advances of to IA points.
Raw sugar advanced 1-32 of cent q
pound. Coffee closed l to 9 points
higher with trading featureless.
Call money renewed at 4 percent
and held steady at that figure all
day. Time money and commercial
paper rates were unchanged.
Renewed weakness Of French
francs. which broke nearly Is points
TO below $50 cents, or within a few
points Of the extreme low record es-
tablished last month. featured the ir-
regularly lower foreign exchange
market.
Forced to absorb a large volume
Of proft-taking invited last week s
rise in prices, the bond market de-
veloped an easier tone. Trading,
however was enlivened by indepen-
dent rallies in several sections of the
list mostly among moderately
priced railroad liens.
Conflicting price movements mark