Wall Street Slumps After Opening Rally In Late Trading
Market activity showed a firm start fading into a reactionary session with broad losses late in the day. New York and Boston trading data highlighted heavy selling, with major issues like Steel Corporation and Mexican Petroleum sliding while some issues such as American Woolen and Eastern Manufacturing posted modest gains amid mixed local results.
MENTIONED IN THIS ARTICLE
Wall Street
Steel Corporation
Steel
Studebaker
Mexican Petroleum
Atlantic Gulf
Crucible
Baldwin
Bethlehem
New York
Mohawk
Island Creek
New Haven
Eastern
Granby Pays Canadian Taxes and Copper Property Talks
Granby has paid about 1 000 000 in Canadian taxes for 1915 to 1918 with three years settled and two remaining. Inspiration seeks to buy Southwestern Miami Development Company's copper deposit near Inspiration holdings in Arizona. Offerings and dividents from Cambridge Industrial Trust and American Glue surface amid earnings and dividend plans as Rockwood & Co declares a $6 per share dividend.
MENTIONED IN THIS ARTICLE
Granby
Inspiration
Southwestern Miami Development Company
Arizona
Southwestern Miami
Lloyds and
American Bureau of Shipping
Market Opens Firm Then Tails Off Amid Oil Rally
New York today shows moderate activity with early gains driven by stronger bank statements from the Clearing House Association and federal reserve banks. Oils lead as refiners announce a 1 1/2 cent gallon rise while U S Steel sees high unfilled orders yet little demand. turnover reaches 10.15 million dollars with bonds and call money fluctuating.
MENTIONED IN THIS ARTICLE
New York
Clearing House Association
Federal Reserve
Royal Dutch
Middle West
United States Steel Corporation
U. S
Brooks Steamship stock offered by New York syndicate
R C Megargel Co of New York as syndicate managers offer 125000 shares of no par value of the Brooks Steamship Corporation. Formed a year ago with a fleet of 25 steamers totaling about 115009 deadweight tons and offices in the United States South America Europe and the West Indies. Net earnings from operating three ships for roughly five months before depreciation and taxes totaled 1775000 dollars.
MENTIONED IN THIS ARTICLE
R. C. Megargel & Co
New York
Brooks Steamship Corporation
South America
Europe
West Indies
Nacirema Steamship Corporation
New Orleans
London
Buenos Aires
Baltimore
Philadelphia
Rotterdam
Amsterdam
Helsingfors
Havre
Hamburg
Danzig
Trust Company Deposits and Savings Figures by Date
Deposits in savings and interest by trust companies are listed with dates including Charlestown, Commonwealth, Cosmopolitan, Boston Federal, Fidelity, Hanover, Hub, South Boston, United States, Melrose, and Somerville. National banks Boylston and Union Market are noted with June dates.
MENTIONED IN THIS ARTICLE
Charlestown Trust Co
Charles Commonwealth Trust Co
Bost Cosmopolitan Trust Co
Boston Federal Trust Co
Boston Fidelity Trust Co
Boston Hanover Trust Co
Boston Hub Trust Co
South Boston Trust Co
Bosto United States Trust Co
Boste Melrose Trust Co
Melrose
Somerville Trust Co
National Banks Boylston National Bank
Boston
Union Market Nat’l Bank
Water’n
Unfilled Steel Orders Rise as Oil Prices Edge Up
The Steel Corporation reports April unfilled orders up 467000 tons, the 10th straight monthly rise, lifting total unfinished business to 10407000 tons. Oil price increases push gasoline to 31 cents a tank wagon, with potential retail 33 to 45 cents. A shift in New Haven stock ownership shows brokers hold about 200000 shares, up from a year ago. Market weakness in steels and motors contrasts with booming automobile demand and cautious profit outlook.
MENTIONED IN THIS ARTICLE
The
Steel Corporation
Standard Oil Co
Financial District
Texas
Wyoming
Louisiana
New Haven Railroad
U. S
Money Market Rates Flash Across Financial Notes
Outside brokers quote 8 percent for quick call funds and 8 percent for customers' brokers' loans. Collateral loans to customers run 6 to 7 percent. Commercial paper listed at 7 percent. Year money offered at 7 percent.
Also Mentioned on This Page
United States
Kidder, Peabody & Co
Devonshire Street
Marshall. & Company Banker Incorporated
State Street
Ventura
Sinclair
Sinclair Consolidated
Willys-Overland
John N. Willys and Associates
Pany
Eastern Mfg
Eastern Manufacturing Company
Cambridge Industrial Trust
American Glue
Rockwood & Co
New York Market
Brooks Steamship
Massachusetts
Andover Savings Bank
Ando Blackstone Savings Bank
Brighton
Five Cents
Savings Brookine Savings Bank
Melrose Savings Bank
Melroseston
Savings Ban
Columbus Savings Bank
Franklin Savings Bank
Home Savings Bank
Medford Savings Bank
Suffolk Savings Bank
Waltham Savings Bank
Walt Warren Institution For Saving
Financial Editor
Money Market
Ee Eee
Enness
Pee Eess Nsessneveteve
F. R. Bank Credit
Frriday
Eee
Norway
Argent
Delaware
U. S. Shipping Board
Equitable Trust Wakbakey
Guaranty Trust Company of
F. Bradley Cox
United States Shipping Board
Ings
R.c.megargel& Co
Pine Street
Car & Ae
Hide & L
H & L Pf
Inter Corp Esees
Sm & Repi
St Foundry
Sumatra
Tel & Tel
Atch T& 8 F
Atch T & S F Pf
Atair & Atl
Atlan G & W
Atlantic
Baldwin Loco
Balt & Ohio
Callahan Mio
California Pet
Cerro de Pasco
Chandler Motor
Ches & Ohio
Chi & N West
Chi& I & Pac
Col Fuel & Iron
Columbia
Columbia Graf
Col Graf
Con Cigar Corp
Con Gas
Consol Textile
Continents
Cote Steel
Denver & Rio G
den & Rio G
SS & At
Elkhorn Coal
Erie
Lessee
Fisher Body
Fisk
Freeport-Tex
I Gaston v& W
General Cizar
Gen Electric
Ogi
Goodrich
Gray & Davis
Gulf Mobile & N
Gulf States
Haskell & Bark
Hendee M
Hupp Motor Car
Indiahoma Ee
Sta
Kansas City
City
Lack Steel
Lehigh Valley
WH Inc
Ft Inc
Lorillard
Loville & Nash
Manati Sugar
Manhat Shirt
Martin-Prts
Mathieson Alka
Maxwell Motor
Max Motor Ctf
May Dept Store
Ex Regate
Ece Bao
Miami En
Midvale Steel
Stp&ssm Inn & St L (N
Missouri K & T
Missouri Pacific
Mo K& T Pf
Missouri Pacific Pf
Arthur M
Cornhill
ICAL
Statist Department
Arvey Boston
Berlin
Bremen
Cologne
Frankfort
Munich
Nuremberg
Leipzig
W. N. Withington & Co
Stock Exchange
State St
Main St
Springfield
ROY J. Foster & CO
Mont Ward
National Acme
Nat Enam & Si
Nevada Con
Tex & Mex
Y Central
NY Chi& St I
New York Dock
Pacific Develop
Pacific Gas
Pacific Tel &Sat
Pan- Ray
Pan-Am Pet
Pennsylvania
Pean Sea Steel
Peoples Gas
Pere Marquette
Pere Mar Prior Pf
Philadelphia Co
Pierce Arrow
Pierce Oil
Pittcc& Sth
Remington Typ
Crucible Am
North Butte
Amoskeag
Federal Oil Cen
Leather
Punta Alegra
U. S. Steel Island Oil We
N. Y
Tel
Cosden Oil Davis Daly Gray Davis
Bigheart
Rock Island
So. Pacific
Simms Pete Sinclair
Vanadium
Urtis St
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