Market declines after holiday gains as rates rise
Stock market opened strong but soon weakened as the Federal Reserve raised discount rates and officials voiced opposition to securities inflation. Call money spiked to 20 percent, lifting no major shares and pulling prices lower after an initial rise in U. S. Steel to 112 3-8 before retreating. Other steel issues followed suit, slipping from early highs.
MENTIONED IN THIS ARTICLE
Massachusetts
Iment
Federal Reserve Banks
Reserve Bank
Federal Reserve
Market pauses after hoped-for rally as bears and steel shares lag
The market opened with optimism for a big advance but professionals likely sold into the rally and the market cooled. Analysts note a cautious stance after steady gains since August, with a renewed warning from a February-like crack and memories of past pullbacks. Studebaker declared regular and extra dividends with solid six-month earnings, while talks from bankers and experts weigh on credit moves and speculative pressure. American Car & Foundry hits a high on strong credit signals abroad, though officials cite no concrete foreign orders. Superior & Boston Mining contemplates a control change at an upcoming December meeting, aiming to align its development with peers in the Globe camp.
MENTIONED IN THIS ARTICLE
Steel Common
Steel
Bethlehem
Crucible
Republic
Baldwin
Car Foundry
Studebaker Corporation
South Bend
Governor Strong
New York Federal Reserve Bank
Paul Warburg
Kuhn, Loeb & Co
Reserve Board
Washington
Europe
American Car & Foundry Co
W. W. Woodin
American Car & Foundry
Superior & Boston Mining Company
Globe Camp
Arizona Commercial
Old Dominion
Superior & Boston
Railroads urged for bond investments amid war money shifts
Banking houses push clients to buy low-grade railroad bonds, arguing high current yields and government policy will safeguard earnings. They estimate 18 billion invested in rails, with 12 billion in bonds, 6 in stocks, and expect a guaranteed fair return under proposed rate plans. Market prices dipped after Fed rediscount rate rise, with fears over temporary postwar measures and road returns if ownership shifts back to private hands.
MENTIONED IN THIS ARTICLE
Northern Pacific
New York Stocks Mixed Across Varied Issues
A scan of New York stocks shows mixed activity with numerous securities quoted at varied levels. Notable names include Illinois Central around 92 1/4, Int Harvester near 143 1/4, Intern Nickel at 27 3/4, and Kennecott around 33 5/8, with other issues such as Goodrich B F around 92 1/4 and Interboro Con near 5%.
MENTIONED IN THIS ARTICLE
Goodrich
Granby
Greene
Nor Crecif
Boss
Gulf States St
Hartmann
Haskell & Bark
Illinois Central
Inspiration
Interboro Con
Interboro
Int
Ag Corp
Harvester
Jones Bros Tea
Kan City
Kelly Tire
Kelsey Wheel
Kennecott
Keystone Tire
Kress SH
Where to Deposit Your Savings
A list of savings banks including Andover Brookline Brighton Melrose Columbus Franklin Home Medford Salem Waltham Polk and Hyde Park with dated notations such as January February and November referencing deposits or offerings. Read as a directory brief indicating available banks and timing notes.
MENTIONED IN THIS ARTICLE
Andover Savings Bank
Andover
Brookline Savings Bank
Brighton
Five Cents Savings Ban
Melrose Savings Bank
Melrose
Loston Five Cents Savings Bank
Columbus Savings Bank
Boston
Franklin Savings Bank
Home Savings Bank
Hyde Park Savings Bank
Medford Savings Bank
Salem Five Cents Savings Bank
Polk Savings Bank
Waltham Savings Bank
Waithi
Stock Market Mixed As Bears Gain In unsettled Close
New York traders faced divergent influences on today’s stock market with a bear-leaning close after upbeat open. Call loans spiked to 29 percent toward close while rails and metals rallied on private ownership expectations, General Motors hit a new high but finished lower, and bonds showed steadier activity with Liberty issues leading.
MENTIONED IN THIS ARTICLE
Columbia Trust Company
Broadway
New York
Shorts
Reserve Bank
General Motors
U. S
Republic
Lackawanna
Liberty Group
Pan
Also Mentioned on This Page
BOS
Biesaioa
THE
Merchants National Bank
State Street
Mass
Studebaker
U. S. Steel
Elder Corp
Aetna Explosives Co., Inc
Bankers Trust Company
Wall Street
J. & W. Seligman & CO
Sullivan & Cromwell Counsel
Julius M. Mayer
Australia
New Zealand
Bank OF New South Wales
Sir John Russell French
Fiji
Papua
New Guinea
London
George Street
Sydney
Threadneedle Street
Bankers
American Car & Foundry Advance
C. D. Parker & C0., Inc
Devonshire St
Bostor
Fort Hill
Financial Editor
Interstate Commerce Commission
Cummins
Ian
Seeeens
Wong
Cacaeis
Eeessreres
Chicago Grain Market
N. Y
Lev
E. M. Hamlin & Company
Philadelphia
Chicago
New York Cotton Exchange
Chicago Board of Trade
Laidlaw & Co
Softon Safe Deposit and Trust Co
Franklin
Arch and
Devonshire Sts
Sree
Iheke Jun
Allis-Chaletts
Al _ Pa
M Bank As
Bosch Mag
Hide & Lea
H & L Pf
Ioe Corp
Bhip & Com
Sumatra
Anaconda Co
Atch
T& SF
Gf & W
Balt & Ohio Rees
Balt & Ohio Pf
Barrett Cobee
Batopilas
Beth Motor
Bethlehem St’l
Beth Steel
Beth Stlpf
Booth Fisheries
Brook UN Gas
Burns Bros
But Cop & Z
Butte & Super'r
Butter
Chandler Motor
Gt Western
Gt West
Chic & Alton
Chi & N'weet
Chic & N’st Pf
Chi Pney Tool
Chi RI & Pac
Chir U & P
Col Fuel Iron
Col & Southern
Col & So Ist
Columbia Gas
Crucible Steel Cocva
del & Hudson
del Lack & W
den & Rio G Pf
S & Atl
Elkhorn Coal
erson-Brant
Endie-John
Erie
Freeport-Tex
Gaston W & W
Trust Companies
Charlestown Trust Co
Charles’n
Commonwealth Trust Co
Cosmopolitan Trust Co
Federal Trust Co
Fidelity Trust Co
Hanover Trust Co
Daily Metropolitan Trust Co
Old South Trust Co
Boston Trust Co
United States Trust Co
Fitchburg Bank & Trust Co
Melrose Trust Co
Highland Trust Co
Somerville
Somerville Trust Co
National Banks
Boylston National Bank
Union Market
Nat'l Bk
Watert'n
Kilby Street
New York Market
Pittsburgh
Detroit
Baltimore
Ruby
cHld
Colorado
R Viet Tad Sutcliffe Pal
State St
Commonwealth Metals Co
Treasury
Boston Curb Exchange
Morton &Co., Inc
New England
Arthur M. Harvey
Boston, Mass
Verde
Seven Metals Mutual Divide
Montana
Nixon
Homa Eureka Croesus
Money Market
SILVE
Boston Copper News
Globe Oil Company
H. C. Gibbs
Tex-La-Homa Oil Corporation
Louisiana
Tex-La-Homa Globe Consolidation
H. C. Gibbs & Co
Continental Oil & Refining Company
Court Street
U.S. & M. Petroleum Co
Mutual Divide Mining Co
Geo. L. Ware & Co
Congress Street
This is just the beginning! Our collection holds over 300 years of history, including rare newspapers, obituaries, marriage records, birth records, and so much more—most of which you won’t find anywhere else!