Market Active And Firm Points In Yesterday's Market
Stock activity showed breadth and firm tone in New York and Boston after mixed early gains. Major movers included Studebaker advancing sharply, Warren Brothers reaching a new high, and notable gains for Pacific Oil and National Lead while Mexican oils eased. Bond and money markets shifted with higher call rates and steady time funds.
MENTIONED IN THIS ARTICLE
New York
Boston
Studebaker
Warren Bros
Investigating Securities Before Buying a Bond
The Boston Post outlines why investors should thoroughly investigate securities before purchase. It explains checking property value, earning power to cover interest and principal, and price alignment with security quality and market rates. It notes bond classes A to speculative issues and invites reader questions to the Financial Editor.
MENTIONED IN THIS ARTICLE
Wall Street
Post Financial Department
Inquirer
Boston Post
Borton
Maser
Dividend Notice from American Telephone and Teletrand Co
The regular quarterly dividend of two dollars and twenty five cents per share will be paid by Saturday July 16 to stockholders of record at the close of business on Wednesday June 20. H. Blair Smith, Treasurer.
MENTIONED IN THIS ARTICLE
Wustress Aeyday
H. Blair Smith
Treasuer
Corporate restructuring plans proposed for stockholders
President John B. Miller announces a meeting for 47,000 stockholders on August 1 to approve a capital reorganization aimed at boosting earnings for current holders. The plan shifts capitalization, retires second preferred stock, and substitutes a 7 percent dividend stock for future common sales to reduce funding costs by about 1 percent.
MENTIONED IN THIS ARTICLE
John B. Miller
Miller
Eastern Steamship Lines, Inc
Boston
New York
Shell
Equitable Trust Co
Shell Transport & Trading Co
F. W. Woolworth Co
Financial Market Notes and Analysts Speak on Railroads
The market showed firmer activity in industrials and specialties while the Tails held firm. Stude baker led gains among industrials. Baldwin and American Locomotive strengthened. Mexican Petroleum and Pan American fell on salt water reports. Voting trust certificates fell from 44 to about 27, with a major surprise to local speculators. Government action in coal strikes anticipated Monday, including possible mine nationalization and a Mining Labor Board. Banks and reserves officials express confidence in ample credit and a sound banking system, with railroads showing strong traffic and expected new era for carriers. The unfilled tonnage for United States Steel is due Monday, expected to be best in months.
MENTIONED IN THIS ARTICLE
Studebaker
Pan American
Pacific Oil
St. Paul
Baldwin
American Locomotive
American Can
Mexican Petroleum
Toteco Pool
Mexican Seaboard
Mining Labor Board
Railway Labor Board
Governor Strong
New York Federal Reserve Bank
United States Steel Corporation
Copper bonds signal revival as markets stabilize
The Copper Export Association plans to call for payment on its 1923 and 1924 bonds, signaling improved copper demand after debt reduction and price gains. Analysts note rising bond activity, potential gasoline shortages, and a hopeful investment climate as railroads forecast July traffic gains amid rate cuts.
MENTIONED IN THIS ARTICLE
The
Copper Export Association
Foreign Bonds and Market Notes Amid Global Debt Movements
A collection of bond listings and market references shows Argentine and Chinese government notes, European issues, and several Latin American securities. Dealers quote prices for bonds from Denmark, Belgium, the Netherlands, Norway, Slovakia, Brazil, Chile, Mexico, and more, reflecting a broad, irregular bundle of fixed income instruments and currency considerations.
Bond notes and new issues sweep through markets
The last day to convert Northern Pacific Great Northern joint bonds into a refunding plan is July 12 with redemption set for July 27. A Seaboard Airline equipment trust issue of 2.15 million dollars is oversubscribed. A Chicago Sanitary District 3 million bond issue dated July 1 1923 offers 4 percent yields to 1942. Miller Co sells 750 thousand dollars of St Paul and Bureau City Short Line first mortgage bonds at a 4 1/2 percent yield. Hocking Valley Railway 6 percent equipment gold notes will be delivered in exchange for trust receipts on July 10 1922.
MENTIONED IN THIS ARTICLE
Nouthern Pacific-Great Northern
Northa V Pacific
Sig
Seaboard
Kreeman & Co
Ladenburg
Thanlamann & Co
Redmond & Co
Kissell, Kinnicutt & Co
Guaranty Company of New York
Amne Imerich & Co
Stacy and Braun
Marshall Field, Glove Ward & Co
First National Company of Detroit
Chicago Sanitary District
Sanitary District
Miller Co
St. Paul
Bureaus City
Chicago, Rock Island and
Keelle
Kansas City
Guaranty Trust Company of York
Hocking Valley Railway Company
Broadway
Trans-Pacific Flight Planned by British Aviators
United New British aviators prepare for a trans Pacific night flight from the Western coast of America to Australia, according to Central News. The project aims to push long distance aviation capabilities and demonstrate cross ocean endurance.
MENTIONED IN THIS ARTICLE
London
United New British
Tos Central
America
Australia
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Ustimate
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