Stock Market Breaks Heavily as Prices Plunge
The market fell sharply after the 14 percent call rate for renewals was announced. Steel slumped to a yearly low at 102 1-2, while other active issues dropped three to six points. Total New York and Boston sales surpassed 1,000,000 shares as bears dominated and rumors swirled.
MENTIONED IN THIS ARTICLE
New York
Boston
Steel
National Leather
American Woolen
Texas Is
Bears
Haskell & Barker Car Company, Inc
Union Pacific
United States
Market turmoil driven by high call money and weak exchange rates
The piece notes that elevated call money charges and a drop in foreign exchange rates threaten liquidation of loans and a contraction in exports. It cites continued export strength in 1919 on credit, potential demand drops for farmers, and implications for domestic manufacturing as foreign buyers pull back.
MENTIONED IN THIS ARTICLE
America
Europe
Foreign exchange crash drags New York market down
A sharp foreign exchange collapse dominated New York trading as stock values fell 2 to 6 points or more. Dealers shifted to bills for collection amid erratic quotes while weaker issues attracted foreign buyers seeking cash conversion.
MENTIONED IN THIS ARTICLE
New York
Ifeb
London
Montreal
Tondon
Paris
Rome
United States
Plan Feasible as Shipbuilding Continues and Stock Plans Grow
Atlantic Refining applies for 20 million dollars of 7 percent cumulative non voting preferred and 5 million dollars of common stock marking the first Standard Oil stock listing on the New York Stock Exchange. Anaconda copper output jumps in January while coal shortages hindered late 1919 production. Studebaker declares its quarterly dividend at 1.54 percent on both common and preferred shares. American Tobacco reports January sales up by 2.36 million dollars. Bull Durham and Brooklyn plants denied shutdowns as sales rise and minor repairs occur during a strong cigarette demand period.
MENTIONED IN THIS ARTICLE
Atlantic Refining Company
New York Stock Exchange
Anaconda
Studebaker
American Tobacco
Brooklyn
Financial Editor Debunks Currency Rate Myths and Promoter Tricks
The article argues that interest rates reflect supply and demand for capital, not dollar value. It cites 1907 to 1917 call money fluctuations, explains European and American capital attitudes, and notes promoter scams like Mohave Tungsten and 4000 name sucker lists. It also contrasts outside brokers’ commissions and loan rates across money markets.
MENTIONED IN THIS ARTICLE
Europe
United States
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THE
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200 BAY State Film
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Henry M. Faxon
Financial Editor
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Tel, Broad 1776
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Arthur M. Harvey
Alouette Oil Company
Francis Buckley
Oscar
Robert Chapran
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W. H. Hayes
Massachusetts Ave
Mdae
the Post
G. F. Redmond & Co
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Butler Co
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Boston, Mass
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Treas
W. 42Nd St
New York City
Albany Divide
John E. Allen & CO
Devonshire Street
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