Bonds Unsettled But Rail Shares Continue Strong
New York November 12 heavy profit taking followed recent rate gains. Rail issues withstood selling pressure as investors shifted into higher yielding bonds and stocks. Liquidation of Treasury and government obligations drew bank and large investor funds, boosting total U S bond sales above 23 million dollars while Katy Adjustment 5s rose to a record. Major rail mortgage issues fell with others while a $500 060 Minnesota State 4 1 2s was awarded to banks for a yield above four percent.
MENTIONED IN THIS ARTICLE
New York
United States
Congress Treasury
Friscalens Central
Chicago
Foreign exchange rates listed for major markets
New York November 12 quotes show easy demand and cable rates for countries including Great Britain France Italy Belgium Germany Holland Norway Sweden Denmark Switzerland Greece Poland Czecho Slovakia Roumania Argentina Brazil Japan and Canada Montreal with cents and 60 day bill figures.
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New York
Great Britain
France
Germany
Holland
Norway
Sweden
Denmark
Switzerland
Greece
Poland
Czecho-Slovakia
Argentina
Brazil
Montreal
Money market rates and loans summary
Call money eased with bids at 2 and offers at 1 4, last loan 2, against acceptance 1 3 4. Time loans firm 60 to 90 days around 3 1 4, 4 to 6 months 3 3 4. Prime commercial paper at 3 1 4.
MENTIONED IN THIS ARTICLE
New York
Liberty Bonds Market Update November 1971
Government securities trading in New York closes with Liberty bonds showing varied results. First and second issues around 101 to 102, with notable bids and yields reflected in the 4s and 4.5s ranges. Treasury 4 1/4s reach about 105.24, indicating firm demand for long‑term issues.
MENTIONED IN THIS ARTICLE
New York
U & Gov
Lds
Treasury
Cotton men see recovery as industry corners turn
Boston president of the National Association of Cotton Manufacturers Robert Amery reported at the annual meeting that the cotton industry has turned the corner toward better days. He noted the current crop is the largest in four years and raw material should meet much of capacity needs, though price fluctuations may persist due to uncertain supply. He warned the past year was extremely difficult with fabric output at 60 to 79 percent of capacity nationwide and 40 to 60 percent in New England, but pointed to reduced stocks of finished goods and improved farm markets as hopeful signs.
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Boston
Robert Amery
Cotton Manufactura
Uhdt Association
Amery
Des Bes
United States
New England
Amer
Grain Chicago Market Review In Argentina Wheat Rally Sags
Good rains in Argentina weighed on wheat with a sharp rally based on corn strength and late commission buying. Wheat closed down 4 to 11/2 cents. December 152 3/8, May 158 8 to 159 1/8. Corn up 2 1/4 to 2 8, oats mixed, provisions down to 10 cents. Government corn outlook and limited export business trimmed wheat rallies.
MENTIONED IN THIS ARTICLE
Chicago
Argentina
United States Treasury Balance Report Sealed in Washington
United States Treasury balance reported in Washington DC on November 17 shows a total of 301 860 405 dollars. The statement records cash on hand and government account totals for the day, reflecting standard treasury balance reporting procedures.
MENTIONED IN THIS ARTICLE
Washington DC
United States ‘Treasury
Gould Declares Carnegie Urged Railroad Deal
Edwin Gould testified in an $82 million accounting suit that Andrew Carnegie urged a Gould line against the Pennsylvania Railroad to favor the Wabash Pittsburgh Terminal Co. The feud ties into historic battles between Gould and Harriman. He described plant links, a 19th century dispute, and alleged offers over Missouri Pacific stock.
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NEW York Navy
Andrew Carnegie
Goulds
Wabasa
Pennsylvania Railroad
Edwin Gould
Jay
Carnegie
Pittsburgh
Frank
Ddwin Gould
Carnegle
Wabash Pittsburgh Terminal Company
Carnegie Pennsylvania Railroad
I Tt
Gould
Thei Corsent
Anna Gould
Duchess de Talleyrand
Jay Goulds
Insurance Day Observed By 500 In Hartford
More than 500 insurance agents and underwriters gathered in Hartford to celebrate Connecticut Insurance Day. Sessions covered all angles of the field under the auspices of the Connecticut Association of Insurance Agents, the Connecticut Field Club, and the Connecticut Life Underwriters Association with Hartford companies cooperating. Insurance commissioners and company officials from several states spoke.
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Hartford
Connecticut
Connecticut Association of Insurance Agents
Connecticut Field Club
Connecticut Life Underwriters Association
Insurance Companies of Hartford
Heavy Profit Taking Sparks Stock Market Uncertainty
Trading maintained a furious pace amid heavy profit taking as prices shifted and many issues lost several points. Volume topped 24.2 million shares with broad strength in industrials and utilities, while calls of a new yearly high were tempered by pressure on several leading stocks and mixed foreign markets.
MENTIONED IN THIS ARTICLE
Nework
Conditions Favorable To Unskilled Workers
The article analyzes 1920 to 1922 data from the Federal Reserve Bank of New York showing wages for unskilled labor rising while prices for basic commodities narrowed then widened, suggesting a favorable prosperity for unskilled workers. It notes immigration limits as a contributing factor and credits high building activity since 1920 for demand for unskilled labor.
MENTIONED IN THIS ARTICLE
Federal Reserve Bank of New York
Continental Can stock rights offer limits subscriptions
Continental Can directors authorize an offer of additional common stock to common and preferred stockholders limiting subscriptions to 15 percent of present holdings. New stock priced at 54 a share, vs yesterday's close of 59.75. Record date November 24. rights to subscribe on December 9. Underwritten offering.
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United States
Junas
Iva Suport
Continental Can
Continental Can Company
Kkodakh
Bastin Jtodak Company
United States Gypsum Company
Curb Market News Highlights Vacuum Oil and Major Movers
Vacuum Oil advanced to 81 as steady accumulation spurred by semi official signals. Standard Oil of Kansas traded at 40 for first time since dividend suspensions, Indiana and New York shares active. United Bakeries unsettled, Grennie Bakeries weak to a new low. Hazeltine Radio rose to 8, RCA surged to 434 amid strong demand. Copper and mining issues gained with Goldfield Black Butte prominent. United Verde Extension and other copper stocks showed strength.
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New York Navy
Kansas
Indiana
N York
Mountain Produeste
Mfusal
Lhase Belles Ad
United Bakeries
Grennie Bakeries
Hazeltine Radio
Radio Corporation of America
Free United Retail Candy
Goldfield Black Butte
United Verde
Commodity Prices Snow York Cash Prices for Staples
Current cash prices for staple commercial products are listed with comparisons to quotations from one year ago. The report notes market shifts and highlights price differentials across items.
Metal Market News Brief From New York Trading
Copper prices hold near 1 cent with slight gains in futures amid mixed spot moves. Tin remains steady both spot and futures as zinc shows firm tone. East St Louis reports zinc at 6.77 to 6.85, antimony at 1.75, with other metals showing unchanged or minor shifts.
MENTIONED IN THIS ARTICLE
East St Louis
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