Bear Raiders Trigger Sharp Drops in Stock Prices
New York October 14 stock prices fell sharply amid bear selling despite strong demand for America's flotation and a record 110 million share offering. Trading showed broad weakness across many leading issues with some oil and utility stocks posting fractional gains while rails and consumer names bore the heaviest losses. The market faced higher call money and firmer foreign exchange as German financing sent mixed signals through the session.
MENTIONED IN THIS ARTICLE
New York
America
U. & Stee
Common
Inter
General Elestric
Baldwin
Prairie P Pe Tine Company
Haig
Standard Oil of
New Jersey
Catifana
Texas Company
Barnsdall
Oll
Matty
Texan
Ackawanna
Baltiore & Ohio
Cheasapeake & Ohio
Elaware & Hudson
New York Central
Louisville & Nashville
Reading
Associated Dry Goods
Lord & Taylor
American Wiiter Works
Consolidated Gas of
Baltimore
Good- Wear Tire Preferred
Mack Trucks
Cash Motors
Sears Rosbusk
Punta
Alegre Sugar
People's Gas
Natonal Biscuit
Allons
Funda Inidental
Ime
Rate Cut Granted by Federal Reserve
The Federal Reserve board approved Minneapolis Bank’s request to set a rediscount rate at four per cent. The new rate, a half per cent reduction, applies to all paper losses and takes effect tomorrow.
MENTIONED IN THIS ARTICLE
Federal Reserve
Washington
Federal Reserve Board
Federal Reserve Bank of Minneapolis
Heavy German bond sale drives brisk New York trading
In New York on October 14 heavy over subscription and brisk trading on the German loan dominated the bond market. Dealers moved large blocks as price rose to premiums over the initial 943 8 and closed near 933 4. Domestic rails led activity with mixed prices and pressure in sugar oil copper and independent steel bonds. Detroit Edison offered a 5 percent issue at 97 1/2 for about 8.28 percent yield.
MENTIONED IN THIS ARTICLE
New York
United States
New York Stock Exchange
Stock Exchange
Emands
Tne
Detroit Edison Company
Foreign exchange rates listed for major currencies in New York
A New York foreign exchange report shows demand and cable quotes for numerous countries. Currencies include Great Britain, France, Italy, Belgium, Germany, Norway, Sweden, Denmark, Switzerland, Spain, Greece, Poland, Czechoslovakia, Yugoslavia, Austria, Roumania, Argentina, Brazil, Tokyo, and Montreal. Prices are quoted in cents, per unit or per agreed amount, with varied cable and bank bill figures.
MENTIONED IN THIS ARTICLE
Belgium
Germany
Phi AS Helland
Norway
Sweden
Denmark
Switzerland
Spain
Greece
Poland
Czecho i
Slovakia
Ded
A B Bankruptcy Settlement Near Declared by Stanley
After months of litigation and a recent federal court ruling on jurisdiction, John C. Stanley ancillary receiver reports progress toward an amicable settlement with all creditors of the Agberican and British Manufacturing Company. A fund of about 800000 from asset sales awaits division among general creditors including Bridgeport interests and New Idria Quicksilver.
MENTIONED IN THIS ARTICLE
Agberican
British Manufacturing
John C. Stanley
Connecticut
Edwin 8. Thomas
Bridgeport
Tdra Queksilver Company
Boston
Colorado
Rhode Island
Money market recap from New York with rates firm
Call money in New York Oct 14 shows firmer demand with a ruling rate near 2 1 2 percent. Closing bid 3, offered 3 1 4. Last loan 3 percent. Call loans against acceptances and time loans firm with mixed collateral. Prime commercial paper around 3 1 4 percent. More financial news on page 19.
MENTIONED IN THIS ARTICLE
New York
Reports big coal deposits in Arctic Alaska
Dr. Philips B. Smith of Washington, D. C., geologist for the United States Geological Survey, reports vast coal deposits just north of the Endicott range in Alaska. He says the foothills and valleys between the Yukon River and Arctic Ocean contain some of the continent's greatest coal bodies, indicating Alaska once had a milder climate. Current conditions show no vegetation suitable for coal formation.
MENTIONED IN THIS ARTICLE
Seattle
Wash
Arctic Circle
Alaska
Philips
Smith
Washington, D. C
United States Geological Survey
Endicott Range
Yukon River
States See Boosted Business in September Survey
September bank debit data show 28 states with higher activity than a year ago, while declines were shallow in most. Nine states rose more than 10 percent, led by Minnesota at 34.7 percent and Alabama at 12.4 percent. others show smaller gains or modest changes. Slower growth attributed to weaker auto output in Michigan and textile lulls in Massachusetts and New Hampshire.
MENTIONED IN THIS ARTICLE
Vermont
Wyoming
Alabama
Arkansas
Moorida
Nina
Kansas
Louisiana
Minesita
Mississippi
New Jersey
Arizona
California
Connecticut
Georgia
Minois
Kentucky
Maine
Maryland
Montana
New York
North Carolina
North Dakota
Oklahoma
Oregon
Pennsylvania
Tennessee
Texas
Washington
Michigan
Massachusetts
New Hampshire
Thasing
Pennsylvania Collieries Enter Bankruptcy
New York Oct 14 A voluntary petition in bankruptcy was filed today by the Pennsylvania Collieries Tac coal operators. The liabilities reached about 474 279 and assets around 20 4aT The disputed claims include balances due on income tax to the government for 1917 to 1920 totaling 00 928 and the bondholders’ claims from a six per cent mortgage sinking fund totaling 396 000.
MENTIONED IN THIS ARTICLE
New York
Pennsylvania Collieries
Tac
Mortage
Treasury Balance Report October 11 U S Ledger
United States Treasury balance as of October 11 stands at 408,117,088 dollars after daily ledger totals.
MENTIONED IN THIS ARTICLE
Washington
United States Treasury
Stamping Dept Records Odd Toggle Drawing Press Incident
A brief item notes an unusual event in the stamping department involving a toggle drawing press and a person described as Yoen years old. No injuries are reported. The report provides limited readable details and emphasizes a mechanical issue rather than an accident.
Also Mentioned on This Page
United Loan Corp
Sagar Bldg
Fairfield Ave
Coor
Barnum
Great Britain
France
Italy
Jugoslavia
Austria
Roumania
Argentina
Brazil
Tokio
Montreal
Miduplands
Sal Fig
Low Laat
Aly Reduet
Ajax
Alfred
Bose
Toko Austin
Chile
BNO DL
Bano Tron
Ana Enascott
Eria
Fielsmann
Atoo
Motr Ag
Gibbel. Brag A Bru
Goodrich
Gray & Davame Koo Guim & ON
BOO ‘Hartman
Harvester
Hayes
Houston
Int & T
Invincible
Bobon
Ann Lehigh
Maracaibo
Osna Marin Agro
TATA
North West
Uae
Nor Pacific
She Orpheum
Redlo Corp
Gas & EB
iStandard Otaha
Studebaker
Utah
Willys
Bonds Bank ‘Stocks
Connecticut Securities [Investment Service
E. B. Merritt & Co
Main Street
Bridgeport, Conn
New York City
Post Office
Trinity Station
N. Y
Stanley
New England
United Stated
Arctic
CMBR
Penn. Collieries
U.S
NEW England Tube & Stamping CO
West Haven
Conn
Chas, Levy
Biss Inel
Bliss
Micor & Eck
Bitta Vorizontal
Nlagera Owrbd
Losbvatsissfordin
Enel
Ily
Coe-Stapley
Pratt & Whitey Tool Room
Itece So
Fenner
Cinemnra
Aurora
Allen
Pratt & Whitney Tn
Garda
Greenfield
Angers
Deakt
Chas Levy
c/o
New England Tube & ‘Stamping Corp
Campbell Ave
Brown St
New Haven
Rock
New_York Central
New York Central Electric Corporation
New York State
Hincks Bros. & CO
Morris Plan Bank
Main St
Telephone Barnum
F. G. Lalley
N. Y. Stock Exchange
Chicago Board of Trade
Broadway
Post and Telegram
State Bank
Commissioner Mutual. Finance Investment Co
City Savings Bune Lig
G.C. Berker & Co
Investment Securities
Johnson Building
Main
St. Bridgeport
Lehigh Valley
New Haven Allis ‘Chalmers
U. S. Rubber
Studebaker American Woolen
W. F. Hammond, Jr
Mgr
Fidelity Loan Corp
Middle St.‘Cer. John
Plaza
Wade
Hawley Ave
Earre
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