Markets End Day Near Lows Amid Continued Stock Selloff
The market closed at its lowest for the day after a fourth straight session of declines led by metals and tobacco shares. European selling was light but domestic bear pressure persisted, with investors watching money-market dynamics and a rising sterling/Domestic rate environment. The tobacco sector faced sharp losses from policy talk on a progressive tax, while American Tobacco fell over 28 points in two days. The financial backdrop included tight bank liquidity, firm time money rates, and big short-term note activity in New York and Baltimore, with Union Pacific seeking court approval to sell Southern Pacific stock.
MENTIONED IN THIS ARTICLE
Europe
American Tobacco
Ofihe Group
London
Sterling Exchange
Bank of France
Berlin
Germany
Baltimore City
Union Pacific
United States Circuit Court
St. Paul
Southern Pacific
Riraiy
Stock Exchange
McReynolds
Liggett & Myers and
Lorillard
Weyman & Bruton
United Cigar Stores
Money and Exchange Rates in Wall Street Notes
Money on call loaned on stock exchange collateral at 2 1 2 percent with renewals at 2 percent. Time money rates 3 percent for sixty days and higher for longer terms. Foreign rates show London 4 4 7 percent, Paris 3 4 percent, Berlin around 5 4 percent. Domestic rates and clearing balances listed with sub treasurer balances and bank losses since Friday.
MENTIONED IN THIS ARTICLE
Stock Exchange
Clearing House Exchanges
Sub-Treasury
Wall Street Notes Sign Reorganization Struggles For St Le & San Francisco
Bankers and the chairman have not agreed on appointing a third receiver for the St Le & San Francisco as talks limp along. Speculation grows on West’s possible resignation, the cost of receivership, and efforts by Mosely & Co. to form a committee to protect collateral behind notes due.
MENTIONED IN THIS ARTICLE
Sanborn
St. le & San Francisco
Speyer & Co
Yoakum
Thomas H. West
Baltimore Bond Sale Reveals Market Tensions
Baltimore public bond offering for 5.5 million dollars drew only 588 thousand in bids, with many bids below par as city officials faced criticism for combining public and private sales. Wall Street scrutiny grows over market conduct while Steel stocks linger at near record lows and tobacco issues slide on the Exchange and curb trading.
MENTIONED IN THIS ARTICLE
Baltimore
Atlantic Stock Assessed 100 Percent by Acting Controller
Providence June 5 report says T P Kane Acting Controller levied a 100 percent assessment on Atlantic Nations Bank stockholders. The measure will be used for public funds and government needs as stated by officials.
MENTIONED IN THIS ARTICLE
Atlantic
Providence
T. P. Kane
1 Atlantic
Nations Bank
Unlisted stocks slide as bonds trade. tobacco foes falter
Outside securities show heavy losses in unlisted stocks and weak sentiment among market leaders. Bond issues trade in volume with small sales and irregular price moves while tobacco stocks fail to rally. Various notes and bonds quotes appear in light volume with bid and asked prices for inactive issues.
MENTIONED IN THIS ARTICLE
Booth Fisheries
Title & Trust
Hart, & M. Pt
Pacific Sag Pub. Serv
Baeseeee
Sears-Roebuck
Swift & Ee
Rumely
Bohemia
Boston Ely
Butte Cent
Butte &L
Cactus
Corbin
Ariz
Lake Davis
Hollinger
Houghton
International Markets Report From The Times June 6
The Times City article notes steady day rates with moderate demand and firm bank discounts. Berlin checks edge London, stocks rally late as foreign railway securities find buyers, and Canadian Pacific shares rise amid a general cautiousUpbeat tone. Delaware & Hudson Railroad wins PSC approval to issue 2 million dollars in bonds at 4 1/4 percent secured by first and refunding liens.
MENTIONED IN THIS ARTICLE
Delaware & Hudson
New York Times
Albany
Delaware & Hudson Railroad
Public Service Commission
Treasury Statement Shows Daily Monthly and Yearly Totals
The Treasury release reports receipts and expenditures for yesterday for the month and for the fiscal year. It lists internal revenue corporate tax miscellaneous and other categories with totals and a deficit or surplus figure.
MENTIONED IN THIS ARTICLE
Treasury
New York Times
Washington
Perry
First Sales of 1913 Wool Clip in Shaniko
The first sale of the 1913 wool clip took place in Shaniko Oregon on June 5 with buyers bidding on the new wool offering. The event marked the opening of the season for local shippers and brokers observing market demand and price levels for the wool produced nearby.
MENTIONED IN THIS ARTICLE
Shaniko
Oregon
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W. Pf
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la. R
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Frederic H. Hatch & CO
Boston O
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J. K. Rice, Jr. & Co
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WN. Y
Megargel x Co. Bankers
Pine Street
ICAGO
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Pomroy Bros
J. G. Hob
Pat
St. Ry
Gas & Elec. Co
Bergen Co
B. H
F.W. Pelzer
New Y Stock Exchange
Swartwout and
Appenzellar Bankers
New Fock
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