Market tumbles after four months of gains
The New York stock market recorded a sharp setback led by declines in Studebaker and Mexican Petroleum as prices pulled back from recent highs. Most active issues fell 2 to 3 points while only Goodrich Rubber and Pan American Petroleum posted gains.
MENTIONED IN THIS ARTICLE
Studebaker
Mexican Petroleum
Goodrich Rubber
Pan-American Petroleum
The
Stock Exchange
New York
American Woolen
Mayflower
Butte & Superior
Gray & Davis
Frank A. Vanderlip
National City Bank of New York
Europe
Vanderlip
Post
Vanderlip and European crisis spark bank control shift
The article notes a bank leadership change amid a major dispute over exporting and importing policy. Vanderlip’s cautious forecasts contrast with Hoover Lamont and Davis who see Europe recovering. A money squeeze pushes rates toward 10 percent, with reports of 12 percent, while the National City Bank warns against credit inflation and lends millions at 6 percent amid high market rates.
MENTIONED IN THIS ARTICLE
Vanderlip
Hoover
Lamont
Davis
Europe
National City Bank
Federal Reserve
Turbulent New York Stock Market Shakes Traders
A volatile session in New York on June 3 saw over 2.2 million shares traded as prices swung with long and short positions. Major declines hit Mexican Petroleum, Studebaker, U S Steel, and others while money rates climbed to 11 percent triggering widespread selling and a market check.
MENTIONED IN THIS ARTICLE
New York
Stock Exchange
Mexican Petroleum
Studebaker
American International Corporation
U. S. Alcohol
Atlantic
Gulf and West Indies
General Motors
U. S. Steel
Frank A. Vanderlip
National City Bank
Bears
Wall Street Opens Mixed as Trading Continues Across Markets
New York stocks show broad activity with gains for Am Sugar Am Loco and Col Gas while Am Beetee Atchison and Beth Steel hold steady. Traders watch prices on Am Express Anaconda and Gen Electric amid fluctuating bids and ongoing sector rotations across steel, oil and manufacturing shares.
MENTIONED IN THIS ARTICLE
Adams Express
Allis-Chalmers
Bosch
H& L
Sumatra
Assoc
Assoc Oil Co
Int Corp
Atchison
Atl Gulf
B& Opf
Batopilas
Beth Steel
Atchison Pf
Atl Coast Line
Baldwin Loco
Ealt & Ohio
Beetee
Beth Steel B
Butte & Sup
Barrett & Co
Brown
Butterick Co
Brunewick Ter
Burns Bros
Beth Steel A
Booth Fisheries
Cerro de Pasco
Cal
Arizona
Caddo
Fay
Also Mentioned on This Page
Sao Paulo
Brazil
Rio de Janeiro
Pittsburgh Rolls Corp
Sioux City
the Beaver Co., Ltd
Porto Rico Telephone Co
Mass
Boston Wharf Co
Business Real Estate Trust
Filene
Boston Personal Property Trust
Bromfield Building Trust
Connecticut Mills Co
Imbrse & CO
Congress Street
Waldo S. Kendall
William Minot
Fort Hill
Woolens Water Powers Management
OLD Colony Woolen Mills
Earnest E. Smith & CO
New England Securities
Devonshire Street
Boston
Hecla Divide
Rich Divide
Tonopah
Nevada
Rosetta
Eureka
Albany
HECLA
R. L. Richie
John E. Allen & CO
Yeven
Boston, Mass
Tel. Main
G. F. Redmond & Co
State Street
Sunburst Consolidated
Laiteg
R. A. Gallagher & CO
Curb Exchange
Congress St
Copper Range Company
Rece
F. W. Paine
Foster
Burk
Burnett
Texas
Wyoming Oil Co
Denver
Colo
Kidder, Peabody & Co
Nat
City Bank
Steel and Crucible
Southern Pacific
Central Leather
Mexicali Petroleum
Goodrich
Steel
Aflower-Old Colony
Denbigh
William Rotch
John F. Linder
New York Stock Exchange House
H. F. Wells
Peard
Wells
Georgetown
Col
Taney Denyer
Lawson
Seinece
Homas
W. Lawson
New York Market
Whitney & Elwell
U. S
CM & St P
Chi & N
Col & Southern
Chic & East
Cent
Cru Steel Pf
Can Pacific
Chandler
Ches & Ohio
Cm&stp
CRI & Pao
China
Crucible Steel
del & Hudson
den & RG Pf
Erie
Ae Erie
M & Smelt
Gaston W& W
Nor Piaa
Gulf S Steel
Gen Electric
Gen Motors
Haskell
Agri
Har Corp
Papista
Central
Kan
Keystone Té& R
Lake Erie & W
Zee Rubber
Lehigh Valley
Mackay Cospf
D . Pf
Miami Copper
Minn & St L
Maxwell
Maxwell Rt
Manhattan Sh
Montana Pwr
MK & Texas
Mo Pacific Pf
Max Motor
Nat Acme
Province of
New Brunswick
Canada
New York City
Bank of Montreal
Montreal
St. John & Quebec Rail
Messrs. Brown, Montgomery and McMichael
United Financial Corporation, Limited
Guaranty Trust Company
Montreal of
Arthur L. Devens
Devonshire St
Burkburnett
Ranger
Bosque County
Goose Creek
Petroleum Securities Company
General Agents
B. P
Main Street
Fort Worth
E. M. Fuller & Co
Consolidated Stock Exch. of
N. Y
Broad Street
Pierce
A. F. Dow & CO
W.N. Withington & Co
Consolidated Stock Exchange of New York
Harvey
Arthur M. Harvey
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