Unfounded rumors blamed for sharp price break on New York stocks
In New York on March 26 rumors that the federal reserve would raise its rediscount rate caused a major stock market selloff. Downticks hit many issues to new lows as traders awaited the Wabash dividend decision and the day ended with mixed gains and losses across railroads, industrials, and key names like Baldwin United States Steel and American Can.
MENTIONED IN THIS ARTICLE
New York
New York Federal Reserve Bank
Northwestern
St. Paul
Seenon
Golf States Steel
Euston
Cbecavcabese Decee
Udeon Motors
Cad
Oole Central
International Harvester
International Mer
Kelly-Springfeld
High Valley
Sabedcueeee
Seeouieville
Nashville
Errr Mart
Maxwell
Missouri
Kansas
Texas
Missouri Pacific
Montgomery Ward
Ccc
Cesueene
Eidaien
New York Central
Seseesau
N. Hand Hartford
Norfolk and Western
Sesigoe
IBC
Gorse American Senee Viacoe OO
Southern Pacific
Seevenee Pacific OU
Cua Estenss
American Petroleum
BRB
Enmagivania
See & Phila
Reeding
Philips Potwetewen Ruses
Ose
Pure
Tron “and Steel
Reynolds Tobacco
de St. Louis
San Francisco
Beaboard Air Line
Ge Ore
Inetnir
Sheffield Steel
Si Routhern Pac'fic
Bouthern
Stendard
Alifornias
Newey
Stewart Warner
St's Rudebaker
Exes
Cccee & Vevetveses
Texas and Pacific
Bond market mixed as rates viewed. readings firm on Reading General
Fears of a higher federal reserve rediscount rate curbed sentiment in New York trading and left prices in narrow ranges. Oil and traction issues faced renewed selling while a scattered buying stance supported several railroad obligations including Reading General and International Great Northern notes.
MENTIONED IN THIS ARTICLE
New York
Federal Reserve Bank
Reading General
International Great Northern
Trustable 68 Stocks and Bonds in Mixed Market
Erie convertibles rose as holders ratified that road's lease to the Nickel Plate. Chesapeake and Ohio convertibles eased after a court decision blocks minority stockholders from blocking a meeting on Van Sweringen system inclusion. Crude oil cutbacks weighed on Petroleum bonds, but offerings remained active. Pan American faced reorganization delays. Bethlehem Steel helped anchor losses with other industrials. New issues included a $20 million Pennsylvania issue and $15.59 million International Paper bonds, quickly absorbed. A Sao Paulo eight percent loan of $15 million was discussed but not yet offered.
MENTIONED IN THIS ARTICLE
Baldwin
United States Steel
General Electric
American Car and Foundry
American Locomotive
United States
Nash Motor
Maxwell Motors A
Associated Dry Goods
Bush Terminal
Foundation Company
International Business Machine
International Harvester
International Paper
Pacific Gas
United Cigar Star
Ward Baking
West Penn Power
Wabash and
van Swearinge
Wabash
van Swearingen
Virginia
Chesapeake and Ohio
Erie
Union Pacific
Erie Convertibles
van Sweringens
Bethlehem Steel Sa
State of Pennsylvania
Sao Paulo
Wall Street
Seed prices in Toledo Wheat and seed values on March market
Seed report from Toledo lists Wheat No. 2 red at 1.76, Clover cash and March 16.50, October 12.10, Al sike cash and March 13.90, August 12.00. Timothy seed cash and March 2.80, May 2.90, September 2.85.
MENTIONED IN THIS ARTICLE
Toledo
Clover
al Sike
Timothy
Dry Goods Market Report from New York Mar 26
Unfinished cotton goods were quiet with some price softness. Yarns showed irregular movement. Finished cloths especially wash fabrics held premiums for spot shipment while other lines lagged. Burlaps remained quiet with some easing on spot lots. New clothing styles in bright colors promise to sell freely according to managers.
MENTIONED IN THIS ARTICLE
New York
Silk and printed goods rise in season driving prices up
Silk crepes printed goods tub silks and fairies were in demand for immediate shipment at prices 10 to 25 percent higher than the season's opening, reflecting brisk manufacturing clothier activity and market rise.
Livestock Prices Clinch Mixed Day as Receipts Hit Chicago Market
Chicago livestock market reports receipts of cattle 14 000 hogs 22 000 and sheep 16 000 with cattle mostly lower as heavier weight steers and yearlings led declines while fat cows hold near steady. Hogs drag and slow with 13 60 to 15 80 top range and lambs mix steady to lower on lighter weights.
MENTIONED IN THIS ARTICLE
Chicago
Sugar Market Dips Amid Cuban and Porto Rican Shipments
New York March 26 an 132 cent drop in raw sugar on a 4.68 duty paid basis. Trades included 25 000 Cuban tagged contracts to operators 20 000 bags to outport refiners at 4.71 and 5 000 Porto Rican bags to a local refiner at 4.68 for April. May closed at 2.96 with other futures down slightly while refined demand stayed weak and prices remained 6.00 to 6.20 for fine granulated.
MENTIONED IN THIS ARTICLE
New York
Wheat market declines on light export demand and odd weather
Chicago March 6 heavy selling tied to sprinkles of rain in Kansas and weak export demand sent the wheat market down. May at 1.644, July 1.464, corn and oats edged lower, and provisions posted losses from 7 to 37 cents.
MENTIONED IN THIS ARTICLE
Chicago
Mar
Kansas
Next Senate 10 Be One of Unruliest
Washington March 26 President Coolidge faced a highly unruly Senate as Republicans shifted, with the Warren appointment sparking defections. The old guard lost influence while new managers ousted veteran advisers, leaving an opposition bloc of fifty-one to forty-five Republicans as party lines frayed.
MENTIONED IN THIS ARTICLE
Charles P. Stewart
Washington
Mar
Coolidge
Senate
White House
Charles B. Warren
Borah
Couzens
Howell
Johnson
Norbeck
Norris
New England
Cleveland
Warren
Curtis
Cummins
Watson
Smoot
Butler
Bingham
Gillett
Goff
Poultry Prices in New York Briefed Markets
Live poultry broilers by express, 554 60 cents. Dressed poultry prices unchanged.
MENTIONED IN THIS ARTICLE
New York
Broilers
Express
Real estate transfers filed in county clerk's office
Transfers show multiple property deals in Bluefield and Mountain Park. Notable moves include Woody A Light and wife to Nannie S Broyles for 3000 dollars and Nannie S Broyles to Helen Broyles et al for 3000, plus Mountain Park Land Co to Joseph Grant Matney for 100, Virginia Realty Loan Co to EB T Oliver for 6000 and to E T Oliver for 5000. Belle Durham to E T Oliver for 1200 and Frances W Rector to E T Oliver for 500. O A George acquires Lot 11 for 1, C Eugene Foster to O A George for 1, and Mary E Owen executrix to John L Philippee for 1450. Orrie M Gilardi to John H Hays for 10000 completes the list.
MENTIONED IN THIS ARTICLE
Woody A. Light
Nannie S. Broyles
South Bluefield
Helen Broyles
Mountain Park Land Company
Joseph Grant Matney
Mountain Park
Princeton
Virginia Realty Loan Company
EB. T. Oliver
Coopertown
Bluefield
E. T. Oliver
Belle Durham
Frances W. Rector
C. Eugene Foster
O. A. George
Mary E. Owen
John L. Phillipee
Orrie M. Gilardi
John H. Hays
Also Mentioned on This Page
van Sweringen
Tadford
Othadford
Bristol
Leone
Lynchburg
Thw
Lingera
Roanoke
Sheuan
Nertols
Leecai
Williamson
Kenova
Ciscinmuati
Canara
Icaga
Ibe
Chartesion
Cincinnati
Coussbus
Porlemorth
Mor Gary
Welch
Norton
J. Wie
Ett
W. Va
Bluefield Trust Co
Bluefield, Ww
First National Bank
Merican Coal Co. Uefield. Trust Co. and Merchants’ Credit Corporation
ol-Site. Coal Co
Vyshontssuel Co. Com
Dtas Coal Land Cor
Tay Fel Cony, Wa
Titer ‘Lumber Co
Freckles
Gee-Freckles
Ray
Will
navEen
Tag
Qutta
the Baker’s Dozen
Baker's
Bluefieldational Bank
Stanley
ED Wargler
HOLDER _ NEWT
Wanley
The
Bluefield, W. Va
Community Loan Company of
Bland Street
W. C, Neikirk, Secy
Treas
T. Mann
James Tawood Jones
Thomas F. Farrellst
Tnd
A. J. McBride
H.R. Mawth Ne
C. L. Alexander
Pocahontas Fuel Company
Pocahontas
Tigewater
U.cutrent Lakes
Iginal
Pocationtas” Coal
Parahontas Fuel Company Incorporated
Pocatua
Pocahontas Coalfield
Pocahontas Fuel Company, Incorporated
Isb
Pocahontas Coal
Broadway
New Vyorrk
Gr Ranch
Oston
Mask
Board
Norfolk
Traction
A Oe
Portland, Maines
Pocahontas Wharf
Tan Lureillan Sten Urgenia
New Bedford
Mass
Hillman Street
Atlantic Coast
Iton Tidewater
Lambert's Point
Sewell’s Point
Nlewport News
Sandusky
Ohto
Otis London Agts
MOXEY
S von & Co, Ltd
Limestreet
Pocahontas Fuel Co., Inc
Watkins, Scott's Whale
Amy
Western Union
Lieber’s
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