Market swings after torpedoing report shake traders
After a strong open the market tumbled on news of a torpedoed American vessel, later clarified as off England with New York harbor reopening. Stocks like American Smelting held, while American Sugar rose on earnings prospects and raw refined price spreads. Boston & Maine shows a four month deficit despite higher gross business.
MENTIONED IN THIS ARTICLE
New York
Boston & Maine
Money Markets and Foreign Exchange Report
Current money market rates show brokers loans at 4 percent and outside call loans at 4 1/2 percent. Commercial and collateral loans run 5 to 6 percent, with commercial paper at 5 to 5 1/2 percent. Year money stands at 5 percent. New York funds and sub treasury balances are reported with regional exchange figures. Foreign exchange is steady with slight easing in roubles. key rates include sterling at about 4.767 and francs around 5.71.
MENTIONED IN THIS ARTICLE
New York
Federal Reserve Bank
Caress Pass Cae
Ccsreeeernerenneess
Boston
Saokees Ashes
Treasury Credit
Ee Se
P'S
Csc
Csc Es Tee Sivenesn Sre Tsetes
Sub-Treasury Credit
Ssc
Ccseeee Reece
Sub-Treasury
Stocks Rally After Early Break Boosts Markets
Stocks average higher as American Smelters and American Sugar lead gains while steel issues show strength. Local market closes with little change as investors weigh industry signals and broader economic cues.
Stock Activity and Volume for New York and Boston
Total sales show New York at 1 247 700 shares and Boston 21 896. Steel was most active in New York with 444 600 and in Boston with 4000. From Jan 1 1917 to date New York sold 89 575 900 shares and Boston 3 230 167. Compared with last year New York totals rose from 73 856 476 and Boston from 5 496 139. Notable gains include American Smelters in New York from 514 to 110 percent and American Sugar in Boston from 234 to 11934 percent. Losses include American Tobacco in New York from 2 to 197 and Boston Elevated from 2 to 63.
MENTIONED IN THIS ARTICLE
New York
Boston
Boston—Steel
American Tobacco
American Sugar
Alaska
Allie Chalmers
ABS & F
Sumatra
Atchison
Atlg & WI
Barrett Co
el Anu
Butte & Sup
Cal & Ari
Ches & Ohio
CM & St P
Chic & N'wes
CRI& P2dp
Ad G& WI
Hino
Miss Power
Gol Fuel & Iron
Punta Alegre
Col Gas & Elec
Swift & Co
U S
Allouez
Deere & Co
del & Hudson Ll
del Lack & Waa
Rand Ee
Erie
Arizona Com
Gaston W & W
ALG & WI
Gen Electric
AUG & WI
Gen Motors A
Best & Albany
Goodrich Mece Serene Vt
Gulf $ St
Davis Daly
East Butte
Agrio Pf
Edison Electric
H Corp
Franklin
Hancock
I Creek
Kerr Lake
Kan City
Lake Copper
Kennecott
Tiee U
Lack
Lee Rubber
Lehigh Valle
Louis & Nash
McElwist Pf
Maxwell
Maxwell 2d Bs
Arcadian
Mer Marine
New Haven
High Point
New River
Jipissing
Midvale
North Butte
Old Dominion
Bessa Tetera
Nat E
Nevada
Nta Alegre
NY Central
Quincey Minin
St Mary's
Nyo&w
Shannon Sly
Nor & Western
Cate
South Lake
Am Co
Superior
Pacific Wesvacae
Sup & Boston
Ohio Cities
Keen
Torriton Sone
Pac Mail
Uni Fruit
Penn
United Shoe
Peoples Gas
Utah Apex
Pullman
Utah Metal
West End
Winona
Wolverine
Royal Dutch
Market Nervous in Early Session After Port Closures Rumors
New York stocks opened irregularly and fell on rumors from Port of New York closure and ship sinkings. United States Steel slid to 126 3 4, rebounded to 131 2 8, closing 130 1 2 up 5 8. American Smelting jumped, American Sugar rose, Industrial Alcohol led gains, total volume 1,250,000 shares with steel, copper, shipping and alcohol driving activity. Gold exports resumed over 3 million to the Pacific and 800 thousand abroad. Anglo-French 6s rallied. bonds steady.
MENTIONED IN THIS ARTICLE
New York
United States Steel
Pacific
Japan
Spain
United States
Boston Market Fluctuations Signal Mixed Market Tone
The article notes a sharp New York break and weak local response with most metal stocks edging lower except United States Smelting which climbs. Boston Elevated hits a record low as poor weather hurts street railway earnings and dividend outlook. Copper mine output rises 6 percent versus prewar years, implying potential demand shifts when normal conditions return.
MENTIONED IN THIS ARTICLE
New York
United States
Boston
North
South America
Boston Stocks Reports Quotation Movements
Boston records show today’s high and low stock quotations with closing values and net changes from the previous close as of June 1. Trading activity listed for major issues in the Boston market.
MENTIONED IN THIS ARTICLE
Boston
Miesoerolte
Nodaay
Brig Gen Frank Cutting Nominated to Command Massachusetts Signal Corps
Brigadier General Frank Cutting, retired and former Fifth Regiment colonel, has been nominated to command a new outpost company of the Massachusetts Signal Corps. Major Harry G. Chase announces the appointment and Cutting has expressed willingness to accept.
MENTIONED IN THIS ARTICLE
Massachusetts Signal Corps
Harry G. Chase
Frank Cutting
Signal Corps
B. and A. to Cut Off 56 Trains Summer Schedule
The Boston and Albany Railroad to implement a summer timetable on June 24 reducing weekday and Sunday trains by 28 each. No through services are eliminated. one Springfield to Boston to Albany round trip is discontinued. The cut aims to free locomotives and crews for freight while preserving service for most communities.
MENTIONED IN THIS ARTICLE
Boston & Albany
Council For National Defence
Washington
Springfield
Boston
Albany
Boston & Albany Railroad
Liberty Bond Day Looms in New England Patriot Drive
Massive Liberty Loan effort spreads across New England with Boston leaders, Mayors, and bank executives mobilizing for Tuesday’s registration. Officials expect heavy turnout as towns like Lowell and Newton report multi million dollar subscriptions, while workers and scouts canvass neighborhoods to boost bonds.
MENTIONED IN THIS ARTICLE
New England
Shawmut National Bank
National Shawmut Bank
Federal Reserve Bank
Liberty Loan
Shawmut
Lowell
Cambridge Liberty Loan Committee
Rockwood
Cambridge
M. A. Seabury
Thompson Fox Company
Ford Motor Company
Newton
Boston
Seward W Jones
Newton Trust Company
First National Bank of
West Newton
Roger W. Babson
Boston Alien Graff Unaware War Status Before Yesterday
Ambrose P. Graff of 311 Cambridge Street, an enemy alien, did not apply for a wartime permit until yesterday claiming he did not know the U S was at war. The 50 year old Riverside Boiler Works employee said he had not read war news and had other things on his mind. Registration of aliens yesterday was light with under 100 applying.
MENTIONED IN THIS ARTICLE
Boston
United States
Germany
Ambrose P. Graff
Cambridge Street
Graff
Riverside
Cambridge
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Charles River Trust Company
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Harvard Trust Company
Lechmere National Bank
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Take
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Stokes
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Weasbe
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Pwr
Va ‘Gar Nee
Braden Cop
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Shevei
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Cutting
United States of America
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Revere
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Medford
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Danvers
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Norway
Bethel
Boy Scouts
Arlington
George B. ©. Rugg
Girl Scouts
Colonel Rugg
H. Denton White
Laconia Car Company
Laconia
N. H
Red Cross
Wwe
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