Broad stock market surge lifts many shares to new highs
The New York session saw a broad buying movement pushing stocks to new peaks aided by easing red tape and plentiful call money. Rail and merchandisers led gains with Atchison New York Central Chesapeake Ohio Southern Pacific Union Pacific nickel plate Great Northern and others posting renewed highs. Oils and banks rallied as expectations of dividend rises and lower rates spurred demand across city stores Sears Roebuck Woolworth and major manufacturers also advanced.
MENTIONED IN THIS ARTICLE
New York
Asso- Corbide
Atchison
New York Central
Chesapeake and Ohio
Southern Pacific
Union Pacific
Great Northern
General Motors
Hudson
Chrysler
Seminole
Kresge
May Department
McCrory
Sears Roebuck
Simmons Company
Woolworth
American Can
American Smelting
American Tobacco
Baldwin
Brooklyn Union Gas
DuPont
General Electric
General Railway Signal
International Harvester
Timken Roller Bearing
Union
Record crop of cotton is nearly entirely absorbed
New Orleans August 1 The world consumption of American cotton for the season ended July was 17 428 000 bales, the largest ever. Southern consumption reached 7 512 318 bales, with exports about 11 quarter million. Secretary Hester said low grade cotton and wide use by mills explain the high uptake and that the world had taken nearly all available American cotton.
MENTIONED IN THIS ARTICLE
New Orleans
Associated
Henry G. Heter
New Orleans Cotton Exchange
Hester Sid
Hester
The Significance of a 3ie Money Rate Survey
To interested investors we shall be glad to mail a copy of this survey upon request.
MENTIONED IN THIS ARTICLE
New York City
Foreign exchange rates listed for major currencies
New York August 1. Foreign exchanges steady with quotes in cents for Great Britain France Germany Belgium Norway Sweden Denmark Switzerland Spain Greece Poland Czecho Slovakia Jugoslavia Austria Roumania Argentina Brazil Tokyo Shanghai Montréal Portugal and others. Rates include demand cables and 60 day bills and banks.
MENTIONED IN THIS ARTICLE
New York
Associated
Fress
Great Britain
France
Araly
Belgium
Germany
Helland
Norway
Sweden
Denmark
Switzerland
Spain
Greece
Poland
Money Ease the Outstanding Business Security Stimulant
The article argues money supply drives postwar prosperity with stable, low interest rates. It notes generous monetary policy since the war created prosperity. as a result money stringencies eased. The discussion hints that during earlier periods of prosperity, rising revenue and bond values would push rates higher.
Economic calm returns as rates hold near two year lows
The piece notes steady money rates due to Federal Reserve oversight and lower commodity prices. It argues abundant money supply supports business growth and the ability to secure financing at favorable terms for future expansion, even with high price levels.
MENTIONED IN THIS ARTICLE
Federal Reserve System
Mabie
Thia Joume
Curb Undertone Strong Amid Mixed Market Movements
New highs and lows marked today's curb market with an overall strength undertone. Public utilities' solid earnings boosted United Gas Improvement and American Gas and HElectrics, while specialty issues like Cuneo Press Fulton Sylphon Gobe Johns Manville and Royal Baking Powder hit new peaks for the year. Deere and Company rose on good crop expectations. Ball Printing Mavis American Aluminum preferred Anglo-Chilean Nitrate and Metropolitan 6 and 10 preferred weakened to new yearly lows. Transcontinental Offs jumped eight and General Electric Ice Cream 63-28 gained similarly, with the bond group led by those moves.
MENTIONED IN THIS ARTICLE
New York
Associated Press
United Gas Improvement
American Gas and
Cuneo Press
Fulton Sylphon
Gobe, Inc
Johns Manville
Royal Baking Powder
Deere and Company
Ball Printing Company
Mavis Corporation
American Aluminum
Money market and Treasury balance report summary
Money New York reports steady Cal money with bids near 3 3 4 and 4. time loans show mixed rates from 0 to 90 days around 41 4. prime mercantile paper around 4 1 4. Washington Treasury balance today shows general fund at 158 119, 735.94.
MENTIONED IN THIS ARTICLE
New York
Associated Presa
Cal
Prime Mercantile
Washington
U 8. Treasury
Balance General Fund
Stock Averages and Market Figures From AP Report
Stock market averages led with 20 industrials and railroads showing Mixed week and year figures. Ex-dividend status noted at .0875 with total stock sales around 2.106 million shares.
MENTIONED IN THIS ARTICLE
Associated Press
Indus
Ratis
Cotton futures hold steady with mixed week end figures
Cotton futures closed steady with October at 18.27 to 18.28 cents per pound and December around 18.52 to 18.53. January 18.68 to 16.59, March 18.78, May 16.06. Spot middling prices quoted at 18.25. In Chicago, Standard G H company of Indiana declares a cash dividend of 42 1/2 cents and an extra 25 cents per share, payable Sept 15 to stockholders of record Aug 16.
MENTIONED IN THIS ARTICLE
Lacledes
Laclede Gas
Greene Cananea Copper
Foundation Company
Warren Brothers
White Motors
Youngstown Sheet and Tube
London
New York
Associated Press
To & Lower
Chicago
Standard GH Company of
Indiana
Ai Ee Ali Ee
Liberty Bonds Closing Prices Reported
The notice lists Liberty Bonds prices including Liberty 3 1-25 at 100.27 and Liberty 1st 4 1-45 at 108.2 with Liberty nd 4 1-45 at 109.10. It shows Liberty 4 leds 1 1,1 and Liberty 4th 41 at 103.27 along with Treasury 4 1-4e at 113.16 Treasury 4s at 108.14 and Treasury 9 3-Bs at 100.14.
MENTIONED IN THIS ARTICLE
New York
Associated Press
Liberty
Treasury
Metals market updates and bond market activity noted
Copper and tin firm with strong spot and futures. lead and zinc firming. Clearinghouse figures show large exchanges and Fed balance skew. Convertible railway issues led by Erie and Delaware and Hudson. notable gains in utilities and government bonds amid firm French and Chilean issues.
MENTIONED IN THIS ARTICLE
New York
Associated Press
Eastern Pennsylvania
Buffalo
F. A B
Alabama
East St. Louis
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Edwin Wolff & CO
Broad St
Hanover
Hemphill
Noyes
Stect Exchange City Savings Bank
Bridgeport
Noble
New England Equity Corp
State St
Willard & Co, Inc
Dictethetnes
West
National Bank
Barrim
Hodson
Camonioga
Basrow
York
Tolny
Vongal Nairna
Sohy
New York Stock Exchange
Congress Cigar
Consol Cig
Lugo Norfolk
Consol
Norshike West
North Paty
Bremeedis
Agus Hubber
Umaius
Omnibus Corp Veld
Aliska Jonvau
Onnibas Corp
Albany Bort
Appentieam Colling
Albany
Orpheun
Iy AG
Aa Motors
Wiha
Crown Boy
Penick Ford
RIL Thome Emi
Dodge Bros A Ik
Phila
Merri
Pamups Jones Co
Emery Urant
Arrow
Muilicott Johnson
Pittsburgh
Pittsourga
Pitts
Erie
Ion Patina O
ion Patina o . + B24, 750% UI, Au Woolen
Tullman Coett
Rt Gan
Ain
Thy
Kemba Copper
Fleischmann
Smita
Rossi
Try Co
Atlas
Fort A
Lids Yiai
Gon Ny
Alt
Ah TV
St Louis
Gilddan
Tinera
Sky
Bankers Capita
Shattick
Ugrensetatt Cory
Shell Union
Amie
Wan Exchange
Mat Aly
Bowe
N.Y. Nek East
Steel
Kelly
Rani
United
Taam Tiros
natham-Phoenty Bats
Halauder Sont Southern
Colonial Bank
Southern Ten
Houston
Roy Jans Bros
Howe Sound
Bent Ave. Bank
Hupp
Garfield Kathany
Hercansa Natal
Nott
Cat Petrie
National Cit
My & Va
Tombus
Xanyal Park
Minna
Harvester Co Yi
Newark Trust
Seahearth National Bank i
Ai Yaas Cory New
Tin Cuaranty
Texas
Insurance Steel
Actna
Tidewater
Gereral Life
Glens i
Jordy Mo
Wits
Kelly Pring
Ansmranre Co
Sr Investe
Shin Union Oil of Cal
Tl Union
New
Jake Diethe
Lagu Oi
Histhy Y Ney
Panty
Lee
Lehigh
Tsar
van Surnty
Hers Corp
Cayntal Corp X.Y
Th Bank Co
Snowspuiry
Bunter
Ann
Chiat Vontudy
Bea
Baison
East Bankers Om Pac
Wil Biscuit
S Steel Lawyers Nortzngt Rus
Cole Furlay
Universal
Ue Lawyers
Ithead Guaranty
Kenthern
Lori
Pierre
Luna Louisiana
Louis
Bly
Anndinm Corp
York Tilie
Ay AO Imad
Cory Coi Stock
Ludlan
I Bey
Ondo Mack Travis
Hank Stock
Poe
Ana
Mark
Hen
Macy
Mallinson
Yulean Devinuing
Lee Hop
Warner Quinian
Ina
Warren Bion
Penn
Wesleen
Wester
Escot
Hell
ARI
Minneapolis St. Dow
Woolworth Uo
Bullins Boag
Manstigwear Uy Ny
Mureau Cory AM
Mn Jay
Tory
BO Surety
Nevada
Orleans
Onng Ee
Treasury Balance
Bank and Insurance
Clearing House
Federal Reserve Pank
Amociate Press
City of
Erie “D
Delaware and Hudson
Paul
Norfolk and Western
Frisco
Chesapeake
Booklyn Union
Wickwire-Spencer
Germa
Bankers Capital Company
New Haven
First National Bank
Bridgeport, Conn
Cenlers
M Oh. Guneer E
Kirk Foi
Randall Hoa McKill
Daniel Pyle Earce Hiepunn
John Keoch
Connor
F Siemon
Erie Lighting
Penn. Public
N. Y. State Gas & I
Long Island Water
Manila Electric
Associated Electric
Associated Gas
Sis
Sy S
Public Utility Investing Corporation
Trinity Place
Bridgeport Gas Light Company
Hincks Bros.&co
Main Street
Barnum
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