Market Rally Follows Reading Case Turnaround
The market advanced sharply after Reading stock dissolution was ordered and assets may go to shareholders. Baltimore & Ohio and New York Central led rail stocks higher while Copper Range and United Fruit gained, and Mayflower Old Colony declined.
MENTIONED IN THIS ARTICLE
New York
Reading
Baltimore & Ohio
New York Central
North Butte
Elder
Massachusetts Gas
New Haven
Boston
United Fruit
American Agricultural and American Woolen
United Drug
New England Investments Declares 100 Percent Stock Dividend
The New England Investment Company, successor to the New England Cotton Yarn Company, approves a stock split increasing capital stock from 39 000 to 60 000 shares after initially voting to reduce to 30 000. April 8 balance sheet shows a $3 186 454 surplus and $5 900 000 capital.
MENTIONED IN THIS ARTICLE
New England Investment Company
New England Cotton Yarn Company
Massachusetts Plate Glass Insurance Company
Connecticut
Hupp Motor
Delaware & Hudson
Bank deposits and trust company actions in early notes
A long list of savings banks and trust companies with deposit dates and interest practices is followed by editor notes on Federal Reserve credit tightening. The piece analyzes the impact on deposits and prices, citing New York reserve ratios and the February national bank condition.
MENTIONED IN THIS ARTICLE
New York
Central Union Trust Company OF
Charlestown Trust Co
Charles’n
Commonwealth Trust Co
Boston
Cosmopolitan Trust Co
Federal Trust Co
Fidelity Trust Co
Hanover Trust Co
Daily Hub Trust Co
Boston Trust Co
United States Trust Co
Melrose Trust Co
Melrose
Somerville Trust Cuy
Federal Reserve Authorities
New York Reserve Bank
Bond Prices and Cash Payment Schedule Listed
The notice states payment on April 27 of net prices in cash for a series of bonds including First 3% 50 Bonds First 4% 650 Bonds Second 4% 50 Bonds and several other 50 bond groups with respective percentages 43 and 414 referenced. The wording indicates a consolidated cash settlement for multiple bond issues with inclusion of accrued interest to date.
Reading Company to Likely Segregate Coal Assets
The Reading Company, owning over 60 percent of the nation’s hard coal fields, plans to sell or spin off these properties to stockholders in a separate company. Asset valuation is uncertain, but insiders estimate at least $20 per Reading share. Yesterday the market added nearly $14 per share on the news.
MENTIONED IN THIS ARTICLE
Southern Pacific
Reading
Treasury
Union Pacific
Great Northern
Fort Worth
Texas
Burk-Burnett
Saratoga
Humblefields
Desdemona
Duke Knowles Pool
Ranger
Eastland
Brown
Bella , Falls
Hamilton
Wichita
Jones, Lampasas
McCulloch
Bradley Company
Home Office
Lincoln Investment Company
Little Building
Boylston Street
Boston
Mass
Supreme Court
Reading Company
Grain Market Update From Chicago Opens Higher
Chicago grain prices show gains with strong activity as markets open. Traders note futures indices around level 110 with gains across corn and wheat while cash bids hold firm in early session.
Also Mentioned on This Page
The
Granby Consolidated Mining Smelting & Power Company, Ltd
J.T. Crabbs
Granby Consolidated Mining, Smelting & Power Company, Ltd
British Columbia
Canada
Dominion of Canada
Messrs
Steele & Otis
Company
Chadbourne
Babbitt & Wallace
McAdoo
Cotton & Franklin
Bankers
Hayden, Stone & Co
White, Weld & Co
Bethlehem Motors—Am
Bethlehem Motors
England
Allentown
Penn
Eastern Mfg
Orono Pulp & Paper Company
Bangor
Eastern Manufacture Company
Passamaquoddy Land Company
H. & Eaton
St. Croix River
Grand Lake
Maine
Eastern
Orono Pulp
Eastern Manufacturing Company
Saskatchewan
Province of
Alberta
Grand Trunk Pacific
Canada Bond Corporation, Limited
Oronto Ontario
Adams
Ajax
Bk Nee Pf
Car & Fary
Hide & L
Inter Corp
Ship & Com
St Foundry
Ace
Anaconda Co
Realfi'n
Assothst
Bir & Atlan
Ibs
Atlantic Coast
Atlan G & WI
Atg
Balt & Chisseee
Balt & Ohio Pf
Aces
Batopilas
Beth Steel
Burns Bros
the Bradley Company
Massachusetts
Andover Savings Bank
Andover
Blackstone Savings Bank
Brighton Five Cents Savings Bank
Brookline Savings Bank
Melrose Savings Bank
Boston Five Cents Savings Bank
Ome Savings Bank
Ston
Medford Savings Bank
Suffolk Savings Bank
Columbus Savings Bank
Waltham Savings Bank
Waltham
Warren Institution For Savings
Financial Editor
Old
Standard Oil
Cen Oil
Cerroleanne Chandler Motor
Gt Western
Chestern Pt
Chi Mil& St P
M & St P
Chi & E One
Chi Pneu Tool
Biri
Erie
M & S Pf
Gaston W & W
Davis
Gt Nor Pf
Haskell & Bark
Indiahoms
Interboro
Kelly Tire
Kennecott
Keystone Tire
Loft Inc
Lovilley Nash
Martin-Pets Peer Ee
Midvale Steel
Minn & St. L
Missouri Pacific
Missouri Pac Pf
Nat. Biscuit Pf
Enam & &T
Nynh&h
Y Ont & W
Norfolk & West
Pacific Gas
Pacific Tel & Tel
Ese P&t
Pannlvania
Pere Marquette
Philadelphia Co
Tierce-Arrow
Pitts Coal
Pitts & W Va
Stl&sf Pf
St Louis
Saxon Motor
Sears Roebuck
Sinclair Oil
Sloss
Sheffield
Southern Pac
South Railway
Oil of NJ Pf
Stromberg
Studebaker
National Banks Boylston National Bank
Union Market Nat’l Bank
Water’n
UN B & Paper
Union Hs
Tee Gee
Vandalum Corp
West M
U. S
Colden & CO
Gallagher & CO. Investment Securities
State St
A. F. Dow & Co., Inc
Investment Securities
State Street
L. Sherman Adams
Boston Stock Exchange
Houghton County Electric Light Company
Houghton
Michigan
Stone & Webster
Cape Breton Electric Company, Limited
Sydney
Nova Scotia
Care Breton Electric Company, Limited
Sierra Pacific Electric Company
Nevada
New England
Hollister,White, & Co
Congress's St
Philadelphia
Springfield
Mess
Providence, R.J
Pittsfield
Portland
Plymouth Rubber Springfield Ice
Orpin Desk Robertson Paper
American Brick Federal Bearings
Old Colony Woolen Mills
Mark and Mail
Earnest E. Smith & CO
New England Securities
Devonshire ST. Salem
Boston Springfield
Chicago Grain Market
Jones & Baker Securities
Devonshire St
Fort Hill
Boston Stocks
Ge Low
West Tel
Chem Wrens
Renee Ween
Atlas Tack Seeeses
Perhit
G. F. Redmond & CO
Yort Hill
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