Electrical Stock Collapse Dominates Market Drop
New York August 11 reports a dramatic plunge in Manhattan Electrical Supply from 120 1 2 to 58 1 4 amid an exchange investigation. Major stocks fell 6 to 15 points while investment shares slipped 1 to 4 points. General Motors proposed a 100 percent stock distribution after hours, closing down 4 3 4 to 221. Call money remained easy and discount rates unchanged.
MENTIONED IN THIS ARTICLE
New York
Associated Press
Manhattan Electrical Supply Company
Stock Exchange
Manhattan
Devon and Reynolds Company
General Motors Corporation
New York Federal Reserve Bank
Houston
Delaware and Hudson
DuPont
Sterling Products
U. S
American Express
Consolidated Gas
General Railway Signal
Sears Roebuck and Vanadium
Mackay Companies
Shipping arrivals and treasury balance report
Shipping notices list arrivals of President Wilson and other ships in New York from Marseilles with dates August 10 and 11. The daily U S treasury balance general fund stands at 190 675 016 28.
MENTIONED IN THIS ARTICLE
Wilson
New York
Marseilles
van Buren Marseilles
Frederick VIII
Chiiattana
Y Salled
Washington
The
U. S. Treasury
Balance General Fund
Foreign exchange rates drift in New York market
Foreign exchanges were irregular in New York with fluctuating quotations for currencies including Great Britain, France, Italy, Belgium, Germany, Holland, Norway, Sweden, Denmark, Switzerland, Spain, Greece, Poland, Czecho-Slovakia, Jugoslavia, Austria, Roumania, Argentina, Brazil, Tokyo, Shanghai, Montreal and Portugal.
MENTIONED IN THIS ARTICLE
New York
Associated Press
Great Britain
France
Italy
Belgium
Germany
Holland
Norway
Sweden
Denmark
Switzerland
Spain
Greece
Poland
Czecho-Slovakia
Jugoslavia
Austria
Roumania
Argentinaa
Brazil
Cotton futures close steady with mixed gains
Cotton futures ended mixed with small gains and declines. October futures moved to 19.44 to 19.47, December 19.76, January 1974 around 39.77, March 10.92 to 19.07, and May 20.07 to 20.11. Spot market was quiet with middling at 19.70.
MENTIONED IN THIS ARTICLE
New York
Associated Prese
Money market notes show steady rates and varied terms
Market brief notes steady money rates with call money and time loans showing easier conditions. Loans with mixed collateral range from 60 to 90 days, 4 to 6 months, and 7 to 8 percent. Prime mercantile paper bids around 3 3-4 percent.
MENTIONED IN THIS ARTICLE
New York
Associates Press
Meni Steady
CURB LOSES MOST OF EARLY GAINS IN LATE PRICE BREAK
On Aug 11 the curb market showed extreme nervousness as early gains faded. Chicago Nipples and related issues plunged after a buying wave, while other leaders such as Commercial Solvents Deere and Company Glen Alden Coal Great Lakes Dredge and Dock fell sharply. Some stocks, including Banditary and W T Grant, rose to new highs or improved, but oils drew little interest and public utilities failed to sustain gains. Penn Ohio Edison rose slightly as Server Corp 6s rallied but Electric Refrigeration 0s weakened.
MENTIONED IN THIS ARTICLE
New York
Associated Press
Stock Exchange
Chicago
Mahattan Electrical Supply
Deere and Company
Glen Alden Coal
Great Lakes
Banditary
W. T. Grant Company
Harbtershaw Cab
Mavis Bottling
U. S
Penn-Ohio Edison
Server Corporation 6S
New Exchange Rule Delays Stock Proxies for NYSE
The New York Stock Exchange rule requiring written stockholder consent for proxies delays recapitalization plans. New Haven railroad stockholders meet August 17 to consider 500000 shares of preferred. Bankers report slow proxy responses from commission houses due to awaiting authorizations.
MENTIONED IN THIS ARTICLE
New York
Associated Press
New York Stock Exchange
New Haven Railroad
Grain futures rise as rust fears lift wheat and corn prices
Chicago reports show black rust damage to domestic spring wheat pushing prices higher while corn and oats reach new seasonal highs. Opening prices drifted, then wheat gained about 3 cents, corn fluctuated and closed lower along with oats and provisions.
MENTIONED IN THIS ARTICLE
Chicago
Associated Press
Clearing Mouse New York Aug Statements
Clearing house report shows exchanges at 923 million dollars with balances near 97 million. Federal Reserve Bank credit balance stands at 87 million.
MENTIONED IN THIS ARTICLE
New York
Federal Reserve Bank
Bonds Turn Irregular After Early Firmness Display
New York August 11 Prices in the hand market showed irregularity in late trading after an early period of firmness. Convertible issues rose before noon but fell back after the big board break. High grade mortgages sagged as money rates eased, with Brooklyn Union Gas 41-28 up then losing gains. Public Service of New Jersey 51-28 rose to a new peak, International Telephone 41-28 performed well, and debts from foreign issues remained firm overall. Government securities stayed firm with light business.
MENTIONED IN THIS ARTICLE
New York Central
New York
Associated Press
Brooklyn Union Gas
Erle
Delaware and Hudson
Julius Kayser
Hudson Coal
Warner Sugar
Frisco
Florida East Coast
Erie
Union Pacific
Public Service of
New Jersey
International Telephone
Lsaves
General Electric
Firmnese
United States
Liberty Bond Market Close Report from New York
Liberty bonds listed with closing bids and yields as of August 11. Liberty 3 1 25 2 at 100.30. 4s at 11 103.7. 2nd 1-45 54 at 100.10. 3rd 4 1-45 93 at 101.32. 4th 1-46 64 at 104.3 and 104. Treasury issues shown: 4 1-45 10 at 113.20. Treasury 48 1 at 108.22. Treasury 3 3-Bs 2 at 100.18.
MENTIONED IN THIS ARTICLE
New York
New York Stock Exchange
Ty Bend
Finineus
Jon Ie
Stums Petrolema Ty
Ve Sens
Big Abrahan Strood LY Ry
Mn Motors
Vetn Boo Skelly
Aris
Bi Lan Aduus Express
Het Brox
Souter Vairl
BOQ Ajax
Eimbel Brey P
Sin Alaki Jim Oly
Edden
Southern
Ik al Woo
Anne Foulway
Br Co Bis
Bona Standardias
Ana Toren
Nyws
Am Arown
Greene
Steeart
Uno
Stranberg
Gulf Moblie
Bintebaker
Steel i
States Steel
Strel
Hellander Son
Texug
Ralph Uy
HG Howe Sound Co AM Ig
Texay Pavinc
Manhattan
Jon
Tidewater
Am Metal Co
Interhore
Tolacco
Cigur
Intertype Corp
Anncouth
Capepran
Armour Co of
Dev
Kelly Spring
Vanadium Corp . OM
Pau
Austin Nichols Coui Oy
Fanewin Leva i
Iti
Lore
Baltimore
Kress
Chomsy
Lausa Wil
Pinigor Aruas
Lambert Co
Pain
Vulcan Nethning
Noig
Nad Bauer
Lehigh Valley
Ian Unvanx
Warner
Pachonle Veel
Wareen
Hhunenthal
Loew's Inc
West Penn
Toft Inc Aly Eh
Perm
Pwr
Western
Pierre
LedWard
Waits
Louis On
Louis St
Vinton Sells A
Louis Co
Branswick
Mackay
Burns
Bud Magma
Burroughs
Mallinson Co Am
Mallinson DS
Mandel Brora AG
Willys Grerlit
Bor van Fitte
Son Wilson Co
Rupertor
Ana Wson
O . Bia
Fahd
Don Wilken
Rage Iyers Ci Rang
Pri Oy
Wentworth Cop Co
Anoo Ahl Taoking
Isua Wright
Callahan
Willey Ca
Ana Ming
Masiaz Co
Boi Central Leather
Middle States
Mid States
Minneapolis
Chandler Cleve
Usuapeake Corp
Chesapeake ‘Ohio
Wester
Montana
Mont Ward
Paul
Mullins
Sy A Corp Am
North West
Murray
Motors
Nat Bellas
Nat Bellas Fters P
Cheistie Brown Co
Veler Corp
Curysler Corp. P
Chieit Peabody J
Wean
Colorado
Carey
Cuba
Citesul
Norfolk
Mn Co
Packard Motor Car
Paige
Coshman
Bar 'Eilford
Pathe
Elie
Esa Motor
Dusljce Bras
Dole Bros
Benn Viste Cement Sen
Bo Am
Ry Pet Dixie
Lway
Astin Kotak
Philip Mui
Lida Phlips
Petr Rum Foo
Wise Ataig Asay
Petron Ai
Pattsburgh
Punta Alegre
Stach) Co
Amn
Remington Fount
Remington
Gary Boke
Rosia Tosurance
INAH
Han Cigacre
Associated Press
Liberty
Treasury
Metals market snapshot with commodity price moves
Copper steady in spot and futures at 13 98. Tin eases with spot at 64 62 and nearby 64 37. Iron steady and unchanged. Lead quiet at 6 75 in spot. Zinc firm with East St Louis spot and futures around 6 4 percent. Antimony quoted at 12 00.
MENTIONED IN THIS ARTICLE
New York
Associated Press
East St. Louis
Also Mentioned on This Page
Manhattan Co
Remington Arms Company, Inc
Charles E Doyle &'Co
Wall Street
New York City
Telephone
John
Hodeon
W. E. Willard & Co., Inc
Deseributers
West
Bridgeport
First National Back
Barnom
Hodien Hes Exer Defauite
Bank and Insurance
Bankers Capital
American Exchange Ly
Heutke Ec
Bank of Amorier Co
Bank
Mankton Uo
Eas Kaik Ok Mantettan Co
Ghair Roy Tythertb Tits
Bwik
7 and Trust Co
Bank of United States
Ankers 'Trust Company
SSA Beye
Unk Brook Bank
Yn Trust
Danonn
Tlanover National Bank Oo
Rast Co
Nanna
Tiist Cn Kn Salional Bank of Commerce
Astronat ¢i Bank Hs Ay National Park
Sennare Naal Bank
Guarany and Tist Co
Ias S
Genecal
RIA
Hanover
Tartford
Usucance Co
North America
Ingata
Southern Surety
Corp Com Steel
Arts Bond Trust Sherey
Treasury Balance
State Street
Noble
Ss Paper Archive
Ind
CURB
New Haven Road
French
United Loan Corporation
Faifield Ave
Cor
Water Room
Bankers Capital. Company
New Haven
First National Bank
Bridgeport, Conn
Waterbury
HH. Gunber
J. Sturghs
Kimi R
Randall
McKill
Daniel Pyle Earle Hepburn
John Keosh
A. F. Connor
F. Siemon
Bridgeport Telephone
Fairfield
Stratford
Milford
Ansonia
Orange
West Haven
Hincks Bros. & CO
Barnum
North End Bank & Trust Co
Cann
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