Failure of Nickel Plate Consolidation Triggers Market Slump
A marketwide liquidation drives bonds and stocks lower following the Interstate Commerce Commission's rejection of the Nickel Plate merger. Railroad issues led the decline with convertibles and semi-secure bonds falling several points amid heavy selling. investors dumped blocks of Haverty bonds and foreign government issues to cover distressed bets. Despite the rout, a $386 million offering for Philadelphia Electric Power Company was quickly oversubscribed.
MENTIONED IN THIS ARTICLE
New York
Interstate Commerce Commissions
Wrich
TUL Pats
Pers Marquette Uonds Kheld
Chesapeake and Ohio
Baltimore
Chicago
Aston
St. Delaware
Hadsen
Denver Rio Grande
Iowa Central
New Haven
Susanna
Western
Seaboard
Fringe
Wilves-Barre
Telephone
Se Stron
Republic Steel
Hethlehem Steel
Philadelphia Electric Power Company
Thole
Sym
Marine
Ldeyd Subando Steamship Inc
Liberty Bonds Market Summary From New York Report
Liberty bonds prices and quotes from New York show varying rates across series. Bond listings include Liberty 41 49 402, Liberty 4 L-4s at 102.0, Treasury 43 at 104.7, and Treasury 4 1l-is at 107 26. The AP dispatch consolidates a snapshot of interbank pricing for Liberty and Treasury issues.
MENTIONED IN THIS ARTICLE
New York
Marea
Bonds
Liberty Ist
Taberty Ind
Liberty Liberty
Treasury
Foreign exchange rates irregular in New York markets
Foreign exchanges in New York show irregular quotations on March 3. Rates list demand and cable values for Britain France Italy Belgium Germany and more, including Tokyo Shanghai Montreal and other currencies with varied figures in cents and dollars.
MENTIONED IN THIS ARTICLE
New York
Great Britain
France
Anon
Italy
Metal Market New York Copper and related metals report
Copper and related metals show little movement in New York trading as spot and near contracts hover around 14 for copper and 53.75 for spot, with futures at 62.50. Zinc, antimony, and other metals display small changes, with East St. Louis spot and futures at 7.45 for zinc and antimony quoted around 20.00 to 20.50.
MENTIONED IN THIS ARTICLE
New York
Maren
East St. Louis
Money market report and treasury statement
Money New York reports call money easier at 4 1/2 with bids 4 1/2 and offers 4 3/4 along with firm time loans and mixed collateral for 60 to 90 days. Washington treasury daily statement shows 344,650,234,598 dollars in total.
MENTIONED IN THIS ARTICLE
New York
Prime Mercantile
Washington
Daily Statement of the
U. S. Treasury
Cotton futures end steady with mixed gains at close
Cotton market news from Cotton New York reports a quiet spot market with middling at 19.44. Futures closed very steady, up 7 to 2 points. March 19.12 to 19.14, May 18.55 to 18.58, July 17.90 to 18.92, October 17.26, December 16.92 to 16.96.
MENTIONED IN THIS ARTICLE
New York
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THE
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State of
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W. A. Day
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