Federal Reserve Rates Rise to Year Peak in May
In New York on May 2, reports show a continued credit ease boosting money supply and lifting U S and foreign bonds to multi-year highs. Investors favored high grade rails and public issues while new bond offerings totaling over 92 million drew attention amid shifting sterling values and rising stock market activity.
MENTIONED IN THIS ARTICLE
New York
York Federal Reserve
U. S
United Kingdom
Federal Land Bank
League of Nations to convene June 8 in Geneva
The League of Nations council, told Austria it has approved a petition to appoint expert economists to study Austrian economic conditions. Officials hope the inquiry will pave the way for Austria’s release from financial oversight by the League.
MENTIONED IN THIS ARTICLE
Neva
Council of the’ Feces of Nations
Geneva
League
Austria
League Council
Bank report shows large excess reserves decline New York
Bank statement from New York shows an excess reserve of 41,439,739 for last week, a drop of 24,247,960 from the prior week when reserves stood at 63,6640.
MENTIONED IN THIS ARTICLE
New York
Railroads Buy New Equipment Across multiple orders
The Railway Review lists recent railway equipment orders and inquiries: South African Government Buss purchases 21 locomotives at 7000 dollars each from Maffei Works Munich. Czechoslovak Rus adds 16 electric locomotives from six builders. New York Central Railroad seeks 20 small diesel yard locomotives. Passenger car orders and inquiries include Pennsylvania Railroad for 367 cars with breakdowns. Newfoundland Light and Power in Newfoundland seeks eight single truck passenger cars. Freight cars involve Great Northern Railway approving 600 60-ton box cars at St Cloud Minnesota, with a broader plan of 8,000 cars later. Fruit Growers Express orders 600 steel underframes. Fidelity Sugar orders 130 cane cars. Midcontinent Petroleum orders three 40-ton two-compartment tank cars. South Indian Ky seeks 110 freight cars. Viacao Sol in Brazil seeks various cars including 230 20-ton box cars, 20 20-ton tank cars, 50 28-ton flat cars, 50 12-ton cattle cars and 40 50-ton gondolas, with specifications available from Westminster London offices.
MENTIONED IN THIS ARTICLE
New York
Railway Review
Maffei Works
Munich
Germany
Newfoundland Light and Power Co
Ky Fa
Petty France
Westminster
London
England
Viacao Sol “Miversary
Brazil
Montana
Moon
A Motors
Nei Dairy
Ajax
Nat Dept
Whee Ae
Allis Chalmers
Leth Walley
Central
Ict
Panhandie
Penn
Ann Arbor Y
Pittsburgh
Itta West Va
Armour & Co
Wo & P
Punta Alegre
Atchison
Radio Corp
Ion Atlas
Baltioo
Reynolda
Barnadall
Bangor Aron
Barna B
Rogeia Insur
Royal Dutch
Barnesdall
Bethlehem
Bayuk
Beth Steel
Briggs Mfg
Bobtthavest
Bklyn Fair
BOT, Co
Pau
Colo South
Union
United Cig
United Pac
Big Ag
al Shotian
Real Sey
Steel
Univ
Pipa
Ahi
Vanadiuni BO
Vivandan Lle If
Dan Boone
Wabash RY _ aia
Detroit Edison
Woolworth Co
Gyri
Mines
Wright Aero
Wabash
Duluth
Waldorf Srg
Penn Co
John AB
Weston
Whel Lake
Fleigohmann
Great Nor
Gulf Mo Ca
Gulf Bis Sts
Nort
Hanaun Corp
Viavana
Taatelo
Tau
Hayes Wheel
Hudson Man
India
Trwlian
Cement Eau Fiily
Gombue
Harvest Co
Kan City Son
Kelsay
Loew's Inc
Ata
Ta Ao Lorillard
Toft Candy
Woomie It
Denia Nash
Mack “Truck
Macy RH
Maema
Aly
Mellinzon Co
Manila
McIntyre
Metro-Golin
Miami
London Market Report Week of Dull Exchange
A quiet week in London markets with apathetic public demand and little overall movement. Postings note New South Wales loan terms boosting gilt markets slightly while rails lagged. silvering in foreign bonds and a brisk turn in Argentine exchanges. notable activity in Borneo shares and chartered firms with profit-taking after a record run.
MENTIONED IN THIS ARTICLE
London
New South Wales
London County Council
Peru
Borneo
Steel Industry Recessions Yet Remains Strong Overall
The steel sector shows April output down 145 percent and Mg Iron down 8.4 percent yet remains above prior year performance. Analysts note earlier high production due to election optimism and price prospects, with 1925 output still above the 1918-1924 monthly average and well above the industry’s long term capacity. As months pass, production aligns with actual demand, easing recession spikes in a more orderly fashion.
MENTIONED IN THIS ARTICLE
Terrians Theatron
Othel
Irving Fisher Weekly Index shows wholesale price movements
The weekly Irving Fisher index tracks average week to week changes in 200 wholesale commodities and purchasing power of money relative to 1913. It notes May 1920 peak at 147 percent of prewar prices, and explains methods from Fisher’s The Making of Index Numbers with data from Dana Weekly Review and War Industries Board.
MENTIONED IN THIS ARTICLE
Irving Fisher
Houghton, Mimiin & Co
Pollak Foundation For Economic Research
Newton
Mass
Dana Weekly
War Industries Board
Native produce supply liberal with prices normal in market
Offerings of most native vegetables remained liberal with asparagus and lettuce weaker. Spinach advanced due to reduced supply. beets, carrots, and strawberries held firmer or slightly higher. Prices for fruits and vegetables, including pineapples and cantaloupes, remained at or near midweek levels. overall market for shipped produce stayed firm.
MENTIONED IN THIS ARTICLE
umjSath
Learlier
Lota
Asparagua
Newlala Fancy
Kennery
Tax Board Allows Railroads to Exclude War Taxes
MAY EXCLUDE INCOME, WASHINGTON, May 2 AP The Board of Tax Appeal held that railroads under wartime government control may exclude from their taxable income the two percent tax paid to the director general of railroads. PLAN MEMORIAL PROGRAM, Angéline Bartlett chapter No. 4 Daughters of Bethlehem will meet Monday evening at 1250 Main Street to plan Memorial Day observances.
MENTIONED IN THIS ARTICLE
Washington
Board of Tax Appeal
Director General of Railroads
Angéline Bartlett
Daughters of Bethlehem
Main Street
Sterling Rise Boosts Business Activity Across Sectors
Easing credit, near parity for Sterling, rising prices, and strong dividends lift business sentiment. Freight volumes exceed 900,000 cars weekly since January, with rail traffic near a million cars last month. Steel leaders expect demand to recover from a low point as oil exports rise and gasoline shipments abroad grow.
MENTIONED IN THIS ARTICLE
Goth
American Iron and Steel Institute
Stess
Prince Chichibu leaves for two years study abroad
Associated Press reports Prince Chichibu, son of the Japanese emperor, and his escort boarded the warship Jeumo for a two year study abroad. He will disembark at Hong Kong and continue by land to England, marking an extended royal academic mission.
MENTIONED IN THIS ARTICLE
Tohio
Prince Chichibu
Emperor
Japan
England
Jeumo
Hong Kong
Paper Mill Bankrupt in New York Amid Bankruptcy Petition
In Saratoga County, West Milton Paper Mills faced an involuntary bankruptcy petition filed by creditors in federal court. The firm reportedly owes about 2 000 000 dollars against assets estimated at 31 009 005 dollars.
MENTIONED IN THIS ARTICLE
N.Y
CMP
West Milton Paper Mills
Saratoga County
Also Mentioned on This Page
Federal Reserve
New York Central
J. P. Morrin & Co
Cahte
Argentina
J. P. Morgan & Co
Arentina
Blair & Co
Norway
Eague OF Nations
Fidelity Loan Corp
Connecticut Industrial Lender's Association
Middle St
Corner John
Pees
Banking United I Loan Corp
Fairfield Ave
Water
Avon
Phone Bac
V. Wade
Hawley Ave
Boe Ee
Irving Fisher’s Weekly Index
State St
Bullard Machine
Tool Company
McEldowney & Co
Tel. Noble
Lala
Great Britain
Liberty
Treasury
Prince
Stopy
Paper Mill
Southern New England Telephone Company
State Street
Investment Department
Noble
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