Irregular close lifts California Petroleum to new all time high
The market closes erratic with strong oils driving a new high for California Petroleum and aiding steadier results despite heavy curb selling after the Jones & Baker bankruptcy. Local stocks show active volume with Pure Oil Fleischmann Owens Bottle and Columbia Gas and Electric advancing while banks report solid monthly total and foreign exchange mixed signals.
MENTIONED IN THIS ARTICLE
New York
Eee
Pure Oil
Fleischmann
Owens Bottle
Columbia Gas and Electric
Jones & Baker
Norfolk & Western
Erie Consolidated
Atchison General
New Haven
Germany
Spain
Richardson
Keith Dayton
Stock Exchange
American Laundry Machinery Common
American Rolling Mill Common
American Seeding Machine Preferred
City Ice
Cooper A
Early & Daniels Common
Fay & Egan Common
Fleischmann Common
Gibbeernicke Common
Kroger Grocery and Baking Common
McLaren Aiia
United Tes
United
de- Deangel
Market ends erratic as oil shares lead decline
Erratic trading marked the day with oil stocks weakening after a gasoline price rise amid bankruptcy chatter around a major curb market house. California Petroleum hit a new peak before easing, while rails showed resistance and Underwood Typewriter announced a stock recapitalization.
Market Movements in Ohio Bell and Rail Shares
The report notes 126 shares of Ohio Bell Telephone preferred trading at 103 with the bid up a quarter to 103. Erlanger preferred rose a quarter to 73% as offerings advanced to 73%. The preferred rose to 99% bid with offers at 102.1 and demand at 58% while light issues gained interest. Eight shares of C, Columbus Railway Power and Ne C sold at 73% amid mixed bids and offers.
MENTIONED IN THIS ARTICLE
Fisk
Elec
Goodrich
Goodyear Tire
Pat Ry
Hershey
Hudson & Man
Int. & Gt. Nor. Adj
Int. Mer. Mar. S. F
Lorillard
Louis. & Nash
Manati Sugar
Market St. Ry. Con
Mo. Pacific Gen
Montana Power Is A
Montreal Tram
Col
Morris & Co. Ist
N. O., Tex. & Mex. Inc
N. Y. Central
N. Y. Edison
N. Y. Gas
E.L & FP
Norf. & West
No. Amer. Edison S. F
No. Pacific
Do Rig. & Imp
Northwestern Bell Tel
Wash. R. R. & No
Otis Steel
Pacific Gas & Elec
Pacific T. & T
Pan-Amer. Pet. & Tran
Penna. R. R
Erent Neeree
Cinebuesarsis
Pere Marquette
Phila. Co. Col
Pierce-Arrow
Public Service
Punta Alegre Sug
Remington Arms S. F
Rep. Il. & S
St. L
S. F. Pr. Ken
Sinclair Crude Oil
Seeeere
Sinclair Pipe Line
Southern Pacific Co
Enews
Porto Rico
Third Ave
Toledo Ison
Union Pacific Ist
United Drug
Steel S. F. Ss
United States Realty
Utah Power & Light
Wickwire-Spencer Steel
Wilson & Cos. F
Ohio Bell Telephone Preferred
Erlanger
C., Columbus Railway, Power and N. & C
No Offerings Responding at 66 and 72
The report notes a lack of responses at both 66 and 72, with buyers not making offers or bids in either case, leaving the situation stagnant. No further bidders or commitments were recorded by press time.
Bankers gather after Reserve Cities sessions at French Lick Springs
High level bankers including Robert McEvilley Charles Dupuis J G Gutting and Newland returned to their desks after attending the Reserve Cities Bankers Association meetings at French Lick Springs. Miss Helen Glenn sent goodwill greetings from Verdun with a note from Covington. Kennecotts exchange offer for Utah Copper expired while American Locomotive issues yield two shares for each hold. Tulsa reports a Tonkawa Field drilling suspension until conditions improve.
MENTIONED IN THIS ARTICLE
Robert McEvilley
First National Bank
Charles W. Dupuis
Citizens National
J. G. Gutting
Second National
Newland
The
Cosmopolitan Bank and Savings Company
Reserve Cities Bankers’ Association
French Lick Springs
Charles A. Hinsch
Fifth-Third National Bank
Helen Glenn
France
Glenn
Covington
Verdun
Money market and exchange rates across London and New York
London reports bar silver at 32d per ounce and money at 1 percent. Discount rates show short bills at 2.4 percent and three months’ bills around 1 1/16 to 2/3 cent. New York call money remains firm with highs near 5 percent and the ruling rate at 5 percent, with loans against acceptances at 4 percent and time loans easing marginally.
MENTIONED IN THIS ARTICLE
London
New York
Columbus Stocks Report May 31 Nations Markets
Cities Service common 1540 166 do preferred 6714 268 Pure Oil common 22%
MENTIONED IN THIS ARTICLE
Columbus
Iron buyers show cautious optimism for third quarter needs
Improvement noted in pig iron inquiries over the past week with buyers weighing near term purchases against anticipated general buying movement. If melt rates hold, a very large third quarter tonnage will be needed, though supply should meet demand while some brands and analyses may be harder to obtain. Foundry coke markets remain steady with Connellsville brand discounts of 25 to 50 cents per ton and furnace grade in higher demand as large third quarter orders are placed.
MENTIONED IN THIS ARTICLE
Connellsville
Foreign exchange rates and currencies across nations
New York reporting irregular foreign exchange figures with varied demand and cables for Great Britain France Italy Belgium and other nations. Cables and bid figures shown for Germany Holland Norway Sweden Denmark Switzerland Spain Greece Poland Czecho Slovakia Argentina Brazil and Montreal.
MENTIONED IN THIS ARTICLE
New York
Great Britain
France
Italy
Belgium
Germany
Holland
Norway
Sweden
Denmark
Switzerland
Spain
Greece
Poland
Czecho-Slovakia
Argentine
Brazil
Montreal
U S Government Bond Closing Prices May 31
New York May 31 U S Government bonds closed with Liberty 34s at 100.23 and various Treasury issues trading with bids: first 4s 98.4, second 4s 98.12, first 4s 98.19, second 4s 98.15, third 4s 98.26, fourth 4 14s 98.17 and Treasury 44s at 99.23.
MENTIONED IN THIS ARTICLE
New York
New York Stock Exchange
U. S
Liberty
Treasury
Ohio Firms Named in Insurance and Construction Losses
A list from Columbus details multiple Cleveland Dayton Cincinnati firms and others with specified asset amounts and the names of their owners or officers. Items include De Luxe Cab Company at 10,000, Insurance Center Building Company at 100,000, Kendis Bros. Company 500, Gedin Carpet 500, Lederer Terminal Warehouse 30,000, Cuyahoga Investment 2,000, Metal Products 25,000, Diamond Alloy Tool 500, Arbor Land 50,000, Wesles Construction 50,000, Sam Davis 500, Al Nails Moving and Storage 100,000.
MENTIONED IN THIS ARTICLE
Geic
Adams Exp
Kelly-Spring
Ais
Rumely Pr
Reduc
Keystone Tire
Ajax Rubber Ceeere
Kinney
Kresge
Allis Chalm
Etree
L. Erie & W. Ctfs
Lehigh Valley
Am. Am
Lig. & M. To. Pr
Lima Loco
Loew's, Inc
Macy
Fdy
Mallinson
R. Pri. Pr
Mart Parry
Seab
Miami
Midvale Steel
Pacific
Montana Power
Mont Ward
Nt. En. & Stp
Asso. D. Gds
N. Y. Air
Atl
Bir
Nor
Amer
Nor Pacific Eestere
Ww'l
Pr. F. P
Okla
Prodert
Bald
Loco
Balt
Ohio Renee
Otis Steel
Owens Bottle
Pacific Oil
Bradl Barnet Lea
Packard Motor
Cer
Pan-Am
Pet
Phila Co
Phil Jones
Burns Bros
Cop. & Zinc
Pitts
Callahan Z. & L
Carson Hill
Cerro de Pasco
Ches
Ohio
Steel Spring
Alton
Tran
East
Ray Con
Chi. & Gt. West
Remington T
Chi. & N
Rep. I. & Steel
Royal Dutch
Chile
St. Joseph
S.l
Col. Fuel & Iron
St. L
W. i. Ee
Solv
Aenews
Sears-Roebk
Arizona
Motors
Shell Tr. & T Corn Products
Shell UN
Simmons Coerteee
Simms
Cuba
Sinclair
Skelly
St.Sh
Warner
Dome Mines
Strom
DuPont de Nem
Studebaker
Eastman Kod
Brant
Cop. & Ch
Fisk Rubber
Fleischmann Co
Union Pac
Freeport
Tex
United Drug
United Fruit
Gimbel Bros. Pr
Goodrich
B. F
U S. Sm. & Ref
Pr. Prf. W.i
Gt. Nor
Indiahoma
Inland Steel
Maryland
Inter. R
Tel Ener
Pao
Combustion
Westingh. Air B
Elec. & M
Willys-Ov
Jones & Pr
al Wilson Co
Jones Bros. Tea
Oolworth
Columbus
de Luxe Cab Company
Cincinnati
Lou Denghausen
Frank FE
O’gallagher
Insurance Center Building Company
Cleveland
Milton S. Koblitz
J. W. Wilson
Kendis Bros. Company
Samuel E. Kendis
Philip Kendis
Gedin Carpet Company
A. J. Schanfarber
B. D. Gordon
Lederer Terminal
Arbor Land Company
Willard Hayes
Wayne C. Black
Wesles Construction Company
Dayton
John W. Weeks
Pearl Weeks
Sam Davis Company
Toledo
Sam Davis
Ralph L. Arnrhein
al Nails Moving
Edward F. Peters
N. E. O’gallagher
Also Mentioned on This Page
California Petroleum
McLaren A
Kroger Common
Dan Strong
NEW York Exchange
Associated Press
Eeeeeeenee
Leereeee
TFE Associated Press
United States
Sii Uksee Svapuanlinad
Ancvniel
U. S. Govt
Bordeaux
Copenhagen
Gtr
Prague
City of
Lyons
Marseilles
Rio de Jane O
Rep
Setee
Dept. of Seine
Netherlands
Paris-Lyons-Mediter
Bolivia
Colombia
Haiti
State of
Queensland
Rio Gr. Do Sul
San Paulo
Braz.-C
Amer Tel. & Tel. Co
Amer. Wtr. Wks. & el
Atlantic C. L. 1St Con
Baltimore & Ohio
Do Ev
Bell Tel. Pa. 1St & Rfg
Beth. Steel Con
Chesap Xike & Ohio
Chi
Chi., Birl. & Q. Ref
Chi. & Last. Ill
Northwestern
Cena Eeeeteteeeereterree
Chi. & West
Ind
Chile Copper
Colorado Industrial
Colo. & Southern
Commonwealth Power
Cons
Consumers Power
Delaware & Hudson
Den
Rio Grande
Detroit Edison
Detroit United Rys
Donner Steel
DuPont de Nemours
Duquesne Light
Emp. Gas & Fuel Ties
Dtfsere
Cosetores Sperere
Brie Pr
Liastasnamthin Cnet
Aha Seyite
Ees Cae
Dean
Pennsylvania
Mid-Continent
Marland Oil
Phillips Petroleum
Reigh Rt
Baldwin
General Electric
American Can
Underwood Typewriter
Kinney Company
Maxwell Motors
Manhattan Electrical Supply
Fourth Federal Reserve
Federal Reserve Bank of Cleveland
Federal Reserve Board
Federal Reserve
Ssesseerserseere
Sansaseo
Total
Carita
Financial Notes
Kennecott Copper Corporation
Utah Copper Company
Kennecott
Utah
American Locomotive Company
Tulsa
Tonkawa
E. R. Perry
Cosden Company
American Cotton Oil Company
Middle States Oil Corporation
Local Securities
Dalton Ad. M
Keith
Aeeeewee
Whitaker
Henneenneeneee
Sis Saaedstiebwabedaasoctieedinds
Ors Ememeneree
Carey
Charngold CO
Dixie
Douglas
John
Dow Drug
Daniel
Fay & Pepe
Fenton United Com
Eneree F. Hee
Fleischmann Com
Pref. Sees
French. Bros.Bauer P
Gibson Art
Gruenee Com
Sey-Hot Botttle Ag
Kroger G
McLaren Products A Ik
Paragon Refining
Procter & Gamble
Weneee
Richardson Peesepes
U Ss Ptg
Wurlitzer
Atlas National Bank
Ohio Bell
Tel
Cine Street Railway
Ween SP Pres OF
ORO Oro Rede Tet
Ohio Sotaieggovorsors
Eseee
Agaeommevecsdsedosecessoetones
Eeeee
Oeeree
Otis
Ask
Cleveland Railway
American Multigraph
Brier Hill Steel
Seeeeewee
yRteenee Feeewe
Firestone Tire and Rubber
Pierre Terres
P. c. Pref
Stee Tees Ee Teeneres
Goodyear
Sathade
Ohio Bell Tel
Ohio Brass
Paragon
Pbs
Richman
Raisin Sherwin-Williams
SOR Spares Corse
Sovervacenbereghitibens Oveageeesbes
Stearns Motor
Trumbull Steel
PIG Tron Market
Rogers, Brown & Co
United States Bonds
Mutual Fire Ins.co
13Th and Republic Phone Canal 730
John G. Broxterman
Pres
John H. Tuke
Sec’y
Ste Paldwig Fiano
Paris
St. Louis
Baldwin Piano CO
W. Ch
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