High Priced Specialties Melt Away in Market Rally
Local market closes after price spikes ease. Brokers expect a rally as copper and steel sectors wobble under pressure. Traders monitor earnings reports and industrial demand amid shifting investor sentiment.
Market Weakness Across High Priced Stocks Amid Record Money Rates
In yesterday's market, total New York and Boston shares traded reached 1.9 million, with U. S. Steel most active. High priced specials fell as money rates rose from 14 to 25 percent, with General Motors, Mexican Petroleum, Pan-American Petroleum, and Texas Oil all dropping from open prices. United States Steel and Bethlehem Steel held up better, while presses like Pressed Steel Car and Crucible saw gains or limited losses. News of coal miners' strike resolution briefly sparked a rally, but selling pressure dominated, and the market closed near the day’s lows.
MENTIONED IN THIS ARTICLE
General Motors
Mexican Petroleum
Pan-American Petroleum
Texas Oil
Pierce Arrow
Studebaker
Worthington Pump
United States Steel
Bethlehem Steel B
Bethlehem Steel' B
U. 38
Crucible
New York
John F. Fitzgerald
Boston
American Linseed Company
Hecla Divide Mining Company
Gold Mountain
Klondyke
Eureka
Kiondyke
Hecla
Hecla Company
Longyear
Hugh Boyle
Obhalt
Percupine
Tom Porsey
Nevada
Dr. Elftman
Geo. W Allen
William Forman
Chas. R. Evans
John Barrier
Jack Shephard
Boston Curb Exchange
John
Ruby Consolidated Silver Mines
Colorado
New York Market Tumbles in Late Trading Crash
Stocks declined sharply as losses erased much of November gains. Major drops hit leaders while U S Steel and key railway shares fell less severely. General Motors slid from morning highs after a string of high money costs and deteriorating foreign exchange conditions raised market unease.
Market Report Reflects Postwar Volatility and Labor Strife
Financial editor notes that peace fails to stabilize markets as volatility persists. He cites coal strike outcomes, potential railroad wage debates, and possible new anti strike legislation as factors shaping investor sentiment and policy expectations.
Money Market Rates From Brokers and Loans
Current money market prices show brokers' customers loans at 8 percent, outside brokers' call loans at 8 percent, brokers' commercial loans at 8 percent, individual customers collateral loans at 6 percent, and commercial paper at 5 percent.
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City of
Cambridge
Kidder, Peabody & Co
Wall St
Devonshire St
U. S. Steel
Pressed Steel Car Company
Mellon
Pittsburg
Pressed Steel Car
Sweetes Company of America
Freeport
Texas
New Ships
Ldower
Freeport Texas Company
Federal Shipbuilding Company, Steel Corporation
Freeport Texas
E. M. Fuller & Co
Consolidated Stock Exch of
B. 50
Broad Street
Commonwealth Metals CO
Massachusetts
Treasury
Norton & Co. Inc
State ST
Fort Hill
Republic
Broad St
Continental Oil & Refining Company
Court Street
Mass
Kingwood Oil
Hequest
George Lelard & CO
Fort
The
Wall Street Journal
Texas Oil On Gas
Texas Oil Underwriters
Burton Building
Fort Worth
SIMMS
Magneto
A. F. Dow & CO
Investment Securities
State Street
Hornblower & Weeks
Congress St
Chicago
Providence
Portland
Detroit
New York Market
London
Paris
Rome
Tonopah “Miner
Tonopah
Hecla Divide
Divide
George W. Allen
W. P. DeWolf
United States
Fred L. Macfarlane
North Sea
W P. Hullinger
Morning Telegraph
P. C. Fisler
Miner
Hecta
John E. Allen & Company
John E. Allen & CO
Devonshire Street
Whitney & Elwell
Ship & C
Sumatra
Tel & Tel
ALG & WI
Hide & Lea
H.& L Pf
Waser
Asso Oil Co
B&o
Brook UN Gas Ae
Chi M & St P
Coca. Co
Ches & Wy Oa
CRI & Pac
CRL& P
Gt West
CM & Bt P Pf
CCC& Per
Cru Steel
Fairbanks
Gen Motors Seers
Goodrich
Greene An
Nor Ore
Nor Pferseaase
Gulf
Ogie
Haskell
Har Corp
Miami Copper
Maxwell 2d
Manhattan Sh
MK & Tex
Mullins
No Am Co
Nor & Western
Nova Sco Steel
Ohio Cities Gas
Ohio
Pao T & Tel
People's Gas
Weesee
Pitts Coal
Pitts
Pond Creek
Pet. Rts
Pierce-Arrow
Ravage Air
Stromberg
Sinclair
So Pacific
Studebaker Exas Co
Texas & Pa
Tobacco
Financial Editor
Financial District
Cummins
Money Market
Fas
First National Bank
Buenos Aires
Argentina
New England
Congress Street
Philadelphia
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