Douglas daily dispatch., 1927-07-13
CONTROL
PRICE CHANGES
IN N. Y. MARKET
,tal stock sales 1,707, 700 shares.

NEW YORK, July IL, (Pj-Prices
we're churned about considerably in
today's stock market, with resultant
confusion in price movement. Specu-
lators for the advance appeared to
maintain their advantage, bringing
forward several new leaders when
some of the old favorites showed
sings of yielding on profit taking. New
points OF weakness also cropped out,
uut selling generally was we'll aoSorbed
Trading showed moderate expansion
in volume, the days sales falling just
snort OF IA million shares.
Credit conditions continued easy.
Call money held steady at per cent
all day, but there were plenty OF
FUNDS available and concessions were
again allowed in the outside market" "
lime money also displayed a some
what easier undertone although a AZ
to 49s was still the prevailing rate.
commercial paper rates we're unchang-
ed.
Baldwin was again sensational per-
former, climbing to new record nigh
Tor all time at 244 and then Shipping
back to 2391a, OFT / point net un real
izlng. Commercial solvents B SCARED
nearly 8 points to a new peak at 384
and then fell back to 3S012. Allied
chemical, which has been rather quieC
of late, suddenly leaped more than 6
points to new peak at 1491a.
There was little in the days buSi-
= In +I11
ment. Pullman responded to the, an
nouncement of the stockholders ap-
proval of the reorganization plan by
jumping points to 189A. Extra divi-
dendS OF 20 cents each were declared
on the common stocks of the Univer-
sal pipe and SherWin Williams COM
panleS. Dodge Bros. reported earnings
OF IS cents a share on the combined
A and e stocks in the first half OF
1927, against $3.88 in the same period
East year, with second quarter earn
lngs substantially better than those Of
the first quarter. Gabriel Snubber
earned $419 share in the flrst half
with quarter earnings 20 per cent
above those of the corresponding per-
iod last year, and second quarter earn
ings 43 per cent larger. The Postum
and General Fireproofing companies
also published good half year reports
Expectations by trunk line carriers
Of substantial pickup in business in
the last half of the year influenced the
buying of the seasoned dividend paying
carrier shares with Chesapeake and
Ohio, Lehigh valley, New York Central,
Southern Pacific and Southern Rail-
way making the best showing, Erie
issues were again in good demand, but
Kansas City Southern and some of the
other merger rails" we're heavy.
Radio Corporation made belaGed re-
sponse to the recent settlement of
patent litigation by advancing 3 points
to So. National DiStillers common and
preferred each scared over points on
a renewal of gossip concerning poten-
tial profits on liquor sales through a
proposed modification of governmental
restrictions. Timken crossed 40 for
the first time and was followed into
new high ground by Marian Rockwell,
Colorado Fuel, Continental Insurance,
Fidelity Phenix Insurance, National
Tea and few others.
Barnsdall A turned heavy on reports
of further increase in output in the
Seminole field Market heaviness al
so developed on u. S. cast iron.
Outside the stock market, chief in
terest centered in the break of 5 cents
a bushels i'll wheat futures on selling
inspired by the publication of the gov
ernment crop report which was con-
siderably above private estimates. The
government prediction of the smallest
corn crop in 26 years apparently had
peen fully discounted by the market
in that commodity. Cotton futures
closed slightly higher.
A rise of more than 3 points in
German Reichsmarks to around 23.72
u cents, the first change of any con-
sequence in months, was the only fea-
ture in the foreign exchange trading
The advance here followed a similar
advance in European capital, with
buying said to be for the account of
large German banks Demand sterling
ruled around $4.855s and French francs
around 3.9113 cents.