Heavy selling hits stocks as GM leads losses in market slide
New York traders faced sharp declines amid heavy selling across industrials. General Motors tumbled after a large block trade and rumors of no stock dividend, while United States Steel posted a July gain. Bond markets weakened on French and Mexican concerns as call money rose and loans increased.
Stock Averages and Bond Sales Reported
The report lists stock averages across sectors with Tuesday and Monday figures for rails utilities and industrials, plus a combined average. It notes total bond sales at 7,407,000 par value and total stock sales of 2,181,700 shares, with highs and lows from 1928 and 1926.
MENTIONED IN THIS ARTICLE
The
Associated Press
Tues
Mon
New York Produce Prices August Report
New York August 10 butter receipts at engy 13.989. Figen steady to firm receipts 144. Nearby hen whites across grades 43 to 49 cents. Nearby western whites firsts to extras 36 to 44 cents. Nearby pullets 35 to 36. Pacific Coast whites extras 42.5 to 45. Firsts to extra firsts 41 3/4 to 47. Long Island potatoes per barrel No 2 4.00. New Jersey prices 0 0. Long Island price 4.00 to 1.80.
MENTIONED IN THIS ARTICLE
New York
Hennery
Pacific Coast
Long Island
New Jersey
York Stock Exchange
Lnal Coty Inc
Mikey Durr
Abraham Straus
Cuba
Adams Express
Nontgoin Ward
Zy Woo Moon Motor Cac
al Albany
Davison Chemical
BS Bu
Auis Chalmers Mfg Chem Tae Iy
Delawnes Lhidson A Waa
Alureny
Lindy U
del Lack
Wester
Etats
Nash
RV Gay
Amenubt Corp
Pelpen Rio Gr
Detroit
Ely i
Ga Lodge Bro Ak
Bisey Ao
Az Aly
SEO Am
BRAY
Ae Tin Nathnat
Klee
Emerson Taranting
Central
Avon
Internal Corp
Baty
Emerson Uranting
Fito Eng
Endicoit- Jubidon
Dock Ag
Arm Metal Co Taigoig
Norfolk
Ant
Nor American Co
Og Fel
Min Smelt
Am Noilson
Norwalk Tire
Tator Haag Vier Abo
Nunaily Co
Am Bok RS
Fed Motors
Ship Commerce Toy Sy
Fisk Bobier Liscal
Omnibuy Corp
Am Smelting
Elon Fleischman Mn Co
Oppenheim Collins
Am Steel Volr
Fox Film
Otis Stoel
Gabriel Snubber
Gardiner
Owens Bottle
Pan Gax
Asphatt
Packard Motor
Am Tabacco
Packard
Paige Det
Bob Ain Ty Fursch
Pan Am Petroleum
General Motors
Panhandle
Ain Waal
Geo Motors
Pathe
Exch
Ain Wat
Penick
Ford Ny
Goth Silke
Art Metal Constructio
Jon Goth
Silke Hos Ms
Philip Morris
Asso Dry Gus My Wy
Sn Gould Coupl A
Phillips Petrolem
Asso Dry Iy
Three Arrow
Atfoo Atchison YF
Pierea Arrow
Atchison Pfit
Axon
Pierce
Pierce Petroleum Ray
Gulf Mob
Public Ser Co
Austin Nichols
Gulf States Steed
Pull
Baltimore Ohio
Eno
Hne R
Sony
Ray Connel
Bangor
Barnsdall Corp
Bony
Houston
Hupp
Bloomingdale
Tabacco
Driggs Mig Coi Dba
Randayy
Royal Dxy
Sey Te Toon
Brooklyn Exison
Ingersoll
St Joseph Ld Ai Ta
Brin
Trang Aba
Inland Steel
ORLA
Brlyn Union Gas
Anzno Sehnita
Ranma Rae
Brunswick Tenn Ry
Burns Bros .A
Int Cement Seagrave Alr Lp
Ado Burroughs
Gombust
Seneca
Butte Superior
Shell Tninn
Butterick Co
Beto
Shubert Whe
Simmons Co
Cal Petroleum
South Porte
Caladaia A
Jordan Motor Car
Anna Southern Tairtes Ari Rim
Central Leather Pit
Kayser I Co
Southern Dairies
Beno Southern
Ib Mills
Kinney & R Co
Pat
Cerro de Pasco
Kresge
Kresge Dept Stores
Chesapeake Ohio
Chicago Alton
Chicago
Ty Wim
Lima Lora Ins
Stromberg
Pierre Ca Rirg Bweeta Co
Ano Tlonisiang
Fon
Soulay Nashy
IRMA
Srminaten Ca
Isc Bs
Ludlum Steel
Symington Co
Childs Co
Aon
Mack Trucka
Chile
Chrysler Corp
Colorado
Colorado Southern
Colum
St Ry
Son Tide Water Ollen Bor
Ab Ant Ot
Mark St Ry
Timken Roller Bry
Marland
Tolacco
Congress
Congo
Union Pacific
Consol
Viraudew Inc
Ryos
Wabash
Roo Whidart Sxee
Walwartis Co
Ron Ward
Ward
Dnag Thy
Warner
Warren Te
Aing
Weber Fedller
Ada Wertan
Weaton
Ron White
Wiles Overland
Witen Oyxerld
Ron Wisen Co
Tan Wixon
Ana. Qak
ART
Rubber closes steady as September hits 37.90
Rubber markets end trading steady with September at 37.90, November at 3120, and March at 40.20. The report notes little change across the session as traders awaited further cues from export demand and domestic production data.
MENTIONED IN THIS ARTICLE
New York
Ability Marks Employment and Wages
The chart shows ten years of changes in employment and wages. Payroll totals in manufacturing rose sharply from 1918 to mid-1926, with a slight 1916 relapse, while employment stayed relatively high, indicating steady improvement from 1916 to 1920. After 1920 pay fell then recovered by 1921, and by 1928 there was steady progress. production reached record highs despite some lower employment, signaling improved labor efficiency.
MENTIONED IN THIS ARTICLE
vYhe
lWne
U. S. Department of Labor
Thiane
Bonds of France and Mexico Drop in Dull Trading
Reactionary tendencies predominated in today s bond market unsettled by hardening money rates a sharp stock break and unfavorable foreign financial developments. Heavy calling of bank loans following large brokerage borrowings end of July created unease about money and cautious market operations. French obligations declined modestly despite Poincare reforms and U S debt revision doubts while Mexican bonds faced adversity from an economic boycott and rumors of a crisis. Some issues slipped but declines remained fractional. several convertibles fell sharply with Skelly Oil and Brooklyn Union Gas among losers. railroad bonds weakened overall though Norfolk Southern Refundings rose to the year s best price.
MENTIONED IN THIS ARTICLE
Burt
United States Steel Corporation
United States Steel Common
General Motors
DuPont
Case
United States
Allied Chemical
American Express
American Safety Razor
Commercial Solvents
B. Electric Refrigeration Foundation Company
Hudson Motors
Remington Typewriter
Texas Gulf Sulphur
Woolworth
Loose Wiles Biscuit
Sloss
Sheffield
Atlantic Coast Line
New York Central
Nickel Plate
Chesapeake and Ohio
Southern Railway Island
New York
Poincare
France
Skelly
Brooklyn Union Gas
Denver
Rilo Grande
Liberty Bond Market Report Nearby Prices and Rates
Government bonds edged with Liberty issues quoted at various figures including Liberty 31 28 wees 101.04 and Second 4s 2007 First 4 1 45 Second 4 1 45 Third 4 11 4a Third 4 1 45 Fourth 4 1 48 Fourth 4 3 48 freq C. & Treasury 3 g-ds U. & Treasury 46 U. & Treasury 4 1 4e 107.29 2 102.04 2 100.26 101.07.
MENTIONED IN THIS ARTICLE
New York
United States
Liberty
C. & Treasury
U. & Treasury
Clearing House Report of New York Financial Totals
Clearing House statement shows exchanges totaling 1 032 000 090 dollars with balances of 35 000 000 dollars and the Federal Reserve bank credit balance at 72 900 000 dollars.
MENTIONED IN THIS ARTICLE
New York
Clearing House
Federal Reserve Bank
Treasury daily balance reports 29.83 million
The Treasury daily statement released from Washington shows a balance of 29 828 217 05 dollars as of today.
MENTIONED IN THIS ARTICLE
Washington
United States Treasury
Forecasts show smaller corn crop in latest USDA tally
Washington August 10. The Department of Agriculture reports corn production at 2,576,836,000 bushels for the nation as of August 1, down from 2,660,780,000 a month earlier and far below last year's 4,905,053,000 bushels harvested. Winter crop preliminarily set at 626,482,000 bushels versus 667,762,000 last year.
MENTIONED IN THIS ARTICLE
Washington
Department of Agriculture
Spring Wheat Forecast for Month Ago Compared
The forecast for spring wheat this month shows 212,719,000 bushels, up from 199,595,000 forecast a month ago but down from 270,875,000 bushels harvested last year. The overall crop estimate includes 395,010,000 bushels as related data point for total harvest potential.
Money market report shows firm call money and time loans
The report notes strong call money with a high of 5 and a low of 4 and a ruling rate around 4 1 4. Closing bid 6. Time loans are firm with mixed collateral for 60 to 90 days at 4 3 8 and 4 3 2 for 4 4 months. Prime mercantile paper cited at 4a 4 1-.
MENTIONED IN THIS ARTICLE
New York
Prime Mercantile
Also Mentioned on This Page
Rails
Wong Hving
Herros Mncy
Tcl
Mutual System
Bank Street
City National Bank of Bridgeport
Bacon Wakeman & Son., Inc
Unquowa Road
Fairfield
Barnum
Bridgeport
Florida
Georgia
Intercat
State OF Conn
United Loan Corp
Fairfield Ave
Water St
CILY
Tiousehold Furatte
Sazicien
Fidelity Loan Corp
TT Mide Cor
Jobanet
Conm
HIVE
N.Y
Lee
Mexico
Treasury
State and
Courtland Streets
Bryant D. Sheedy
Bridgeport Land & Title Company
Gent
Main ST
Vain Office
Membersaw. Y. Stock Exchange
N. Y. Cotton Exchange
N. Y. Coffer & Sugar Exch FF
Chicago Board of Trade
Broadway
New York City
Wheeler & Howes CO
Bridgeport, Conn
Wheeler & Howes Company
City of
Pequonnock River
Sterling Street
Noble Avenue
Eaxton Salts Textile Mfg. Co
Salts Textile Mis. Co
Bradstreet
Knowlton Street
Congress Street
Thames River Line, Inc
Amet
Superior Court
John W. Wheeler
Cannon Street
Conn
William E. Howes
Bridgeport Savings Bank
Connecticut
A. Florence Howes