Irregularity in stocks noted with early strength
Stock prices showed initial gains before afternoon declines. Allis-Chalm Co and many others posted fractional moves with mixed net changes. Analysts advise caution, favoring low priced and dividend plays, amid strong rail earnings and Canadian Pacific traffic growth.
Stock Market Operations Reflect Mixed Day of Trading
Yesterday’s stock market showed light volume with irregular value movement and net gains in most issues at close. Early strength faded as public support waned, with sharp gains in Consolidated Gas and declines in St. Paul and Reading amid trader expectations and bear pressure.
MENTIONED IN THIS ARTICLE
Reading
St. Paul
Pennsylvania
Amalgamated Copper
Colorado Fuel
Southern Pacific
Union Pacific
United States Steel
Consolidated Gas
Secretary of the Treasury
Europe
Pacific Coast
San Francisco
Treasury Department
New York
Shaw
Sub- Treasury
Stock Exchange
Bond quotation summary from yesterday and Tuesday
Yesterday closing quotes for government bonds show mixed results against Tuesday. U S 2s registered and U S 4s registers display small changes, with percentages around 102 to 108 for various maturities. District figures include District of Columbia and Philippine bonds with fractions near 10% to 11%.
MENTIONED IN THIS ARTICLE
U.S
S. B
U. S
District of Columbia
Philippine
London May 231 4 p m Market for American securities dull
London reporting dull to moderately strong activity in American securities with cited closes and bids across major issues. Foreign money markets show call rates at 3 4 percent and Berlin discount at 3 percent, with foreign securities including British consols and Japanese 4s in brief notes.
MENTIONED IN THIS ARTICLE
London
Central
Lourgvile & Neshville
New York Central
Pennsylvania
Berlin
Berlin Exchange
WA Pfennigs
Parts Exchange
Tis Med
Money Market and Exchange Rates Report Daily Readout
Money on call opened at 4 percent with volatility between 2 and 4 percent. Time money quoted at 4 percent for up to 60 days, higher for longer terms. Foreign exchange markets closed dull with bank posted rates across France, Belgium, Switzerland, and the Netherlands. Domestic exchanges listed with city by city figures, bank clearings for New York, Chicago, Baltimore, Boston, and Philadelphia. Silver and gold markets noted with London and Madrid prices. Mexican exchange to New York at 1.98. Government receipts show daily and year to date figures. Sub-Treasury debtor to Clearing House by 3,072 dollars.
MENTIONED IN THIS ARTICLE
Oe Cabies Mizht
Chine Ae
France
Belgium
Switzerland
Hollame
New Orleans
San Francisco
Sight
Telegraph
Boston
Tse
Chicago
Charleston
Cincinnati
Savannah
Minneapolis
St. Louis
New York
Baltimore
Philadelphia
London
Madrid
Lisbon
Washington
Sub-Treasury
Clearing House
Foreign Bank Returns From London and Paris
The Bank of England reports a reserve decline of 11 pounds with circulation rising 323,6 and bullion up 311,973. Other deposits gain 564,000 while public deposits fall 230,000. France's Bank notes in circulation rise 169,259,000 francs and treasury deposits grow 7,175,000 francs. general deposits drop 33,300,000 francs.
MENTIONED IN THIS ARTICLE
London
Bank of England
Paris
Bank of France
Wall Street and Exchanges in Global Trading
Foreign houses showed little activity in local markets with modest gains in upward of 10.40 shares. London markets were dull on the Whit weekend. Russian bonds rose and the Bank of England held rates. Dividend announcements include Chicago, Indianapolis & Louisville Railway 2 percent preferred and My percent common, Chicago & Eastern Illinois 1% preferred and 5% common, and others from Missouri Pacific, Kansas City Fort Scott Memphis, Mexico Consolidated Mining, Puget Sound Electric. Anglo American Telegraph Company stock trading reports cite cheap issue price vs peers. Lehigh Valley stock exchange listing agitation gains traction in New York with support from prominent figures.
MENTIONED IN THIS ARTICLE
London
Bank of England
Chicago, Indianapolis & Louisville Railway Company
Chicago & Eastern Illinois Railroad Company
Kansas City, Fort Scott & Memphis Railway Company
Missouri Pacific Railway Company
National Enameling and Stamping Company
Mexico Consolidated Mining and Smelting Company
Puget Sound Electric Railway Company
Anglo-American Telegraph Company
United States
Lehigh Valley
New York
Lehigh Valley Railroad Company
New York Stock Exchange
Banking houses push for direct stock deals in Philadelphia market
Banking houses in the Street Tree area push to facilitate investor entries into unlisted stocks, planning to route Lehigh Valley dealings away from the current circuitous Philadelphia system. Steel rails sales remain heavy with thousands of tons booked for delivery this year across several lines. American Smelting directors to decide on a quarterly dividend, likely 1 percent. Dun's Wheat Crop Report notes better-than-expected outlook, with normal spring wheat seeding and limited winter kill. Bond extensions at Batopilas aim to fund earlier dividends, while Globe-Wernicke plans to increase common stock to 33 million. No action reported from St Paul directors on Pacific Coast extension financing.
MENTIONED IN THIS ARTICLE
Gogg
Eutig
Philadelphia
Mada
Lehigh Valley
Ienois Central
Burington
Tidewater Railroad
Great Northern
Wheeling
Lake Erie
Omaha
American Smelting and Refining
American Smelting and Refining Company
DUN
Dun & Co
Kansas
Red River Valley
Batopilas Company
Bendanolders
Globe-Wernicke Company
Globe-Wernicks Company
Securities Auction Report From Exchange Salesroom
The following securities were sold yesterday at auction at the Exchange Salesroom by Adrian gq Muller & Son. Items include Fourth National Banks Yorks. International Finance and thon Co of New York common. Brooklyn City & Newtown Railroad first mortgage 5 per cent bonds due 1938 with interest January and July. United States Steel Corporation per au winking fund gold bond. and various Phenix Insurance Company and railroad company securities. The sale enumerates multiple shares and bonds with stated terms and accrued interest.
MENTIONED IN THIS ARTICLE
Fourth National Bans Yorks
International Finance and Thon Company of
New York
Phenix Insurance Company
Sates
Wesntteene
Pig Iron Quotations From Slag and Foundry Calls
Quotations for regular pig iron at the Slam and near standard foundry items show yesterday’s second and first calls compared with Tuesday final prices. Prices appear in a fragmented OCR list with multiple lines and partial figures, indicating small shifts in bid and asked levels across several basis weights and types.
MENTIONED IN THIS ARTICLE
Wood
Reef Sevice
Ito
Standard Foundry
Curb Market Trading Sees Mixed Moves and Firm Tone
The curb market showed irregular movement with a generally firm undertone and rising speculation, though values often declined. Bethlehem Steel and Mackay stocks stayed firm while American Can preferred rose, Hannapah advanced then receded, and Consolidated Copper and United Copper displayed activity amid block trading and fractions.
MENTIONED IN THIS ARTICLE
Bethlehem Steel
American Can
Mackay
Chicago —_ way
Hannapah
Stock Exchange
Consolidated Copper
Irr
Lumbia
United Copperware
Utah Aoqeet
Delaware & Hudsons
Also Mentioned on This Page
Bankers and Brokers
Hallgarten & Co. Bankers
Nassau Street
Investment Securities Foreign Exchange
N. W. Halsey
Fhlegelphia
L ST
Redmond Aca
Pine St
C. H. Venner & CO
Bankers
Wall St
PF Aelzer & CO
Broad Street
Schmidt & Gallatin
Broadway
Amalgamated Copper Company
Hudcon County National Bank
Wason Street
Jersey City
N. J
New Jersey Corporations’ Agency
New Jersey
H. Melin. Secr
Varren Ares Trust Company OF
L. G. Hampton
Asst. Secreta
Copartnership Notices
Charles Arstin Whitehorse
GEO. W. Stern & Co
Broad &J
Maiden Lane
James W. Appleton
Maid C Robbins
Conover Fitch
Industrial
Beth Steel Corp
Havana Tobacco Ae
Mackay Cos
Giroux
Tae Granby Consol
Guanajuato Consol
Ibs Am Mines Secur
Montara
Nevada
Leos
United Copper
Everteilenst
del & Hut
van Schsick & Co
Wallstreet
Nort Ry & L
Ns Éo
Chas City Ry
Union Trust
Maryland
Allis-Chal Co
Iowa
Kana @ Mich
Kan City S
Amc
Pary
Chico
Louis & Nash
Manhattan el
Mexican Central
Aem
Ice Secur
M & St L
Mo Kan & Tex
Lecom
Missouri
Nyc & St L
ATSS
North West Si
Coast Line
Ohio
Northern Pac
Bklyn Rap
Pacific Mail
Brunswick
Yi Penn Railroad
Ls Canadian Pac
Peo G
Pitts Coal Nt
Ches & ‘Ohio
Beaine
Lasek
Union Tr
Sloss-Shelf
Sail Ste
Southern Pac
Ceca al
Col Fuel & I
Southern Ry
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Tenn
Texas & Pac
C@&H Cal
Corn
Ay Sen
Gt North
U S
Hock Valley
VaCar Chem
Inter Paper
Wells Fargo
Iowa Central
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Japan
Jnt-Met
Nor Pac
Do &S
Penn
At&s
Col Ind As
U & Steel Se
Wabash D
Canada
Canadian Pacific Company
Lacka Steel
Lsé&Mmms
Ist Inc
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Hide & L
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RAO U
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Cor
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Amer
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Ann Arbor
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Klyn Rap
Klyn
Buff R & Pitts
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Butterick Co
Canada South
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Clev & Pitts
Col Fuel & Tron Telly
BNO Col & Southern
Col & HE & TF
Comstock
Consol
del & Hudson
del Lack & W
Denv & Rio
Des M & F
del United R R
Dist Securities
S & Atl
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Elec Star Bat al
Erte
Evans & TH
M& 5
É& D
Gen Chemical
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Hocking
Ada Aoa
Power
Steam
SI SI Son
Kana & Mich
Kan City South
KCFS
Mpf
LE & Western
Os Island
Manhat Beach
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Michigan Cent
Minn & St L
TOO Mo Kan & Tex
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Morris & Essex
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Lack & W
NY & NJ
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Siia
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Northern Pacific
Ontario
Penn RA
Peoria
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Peo Gas & Coke
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Pullman
R_ R Securities
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Rome
W & Ogd
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St L&s F
Sr_ Louis
Fey
Southern RR
M & O Ctis
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oNos
Third Ave RR
Do Land Trust
iTol Peo & W
Tol Ry & Light
Stl
Twin City
R Tri
Irl
Rion Bag & P
Union Pac
Ka ‘ Sots
UN Ry
Uae
St the
Vandalia
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West Union
Westingh
Money and Exchange
Foreign Bank Returns
Consolidated Exchange Sales
Ing
Allis Chalmers
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Lotsay l
Wis
Col Puel & Icen
Ee St
Ges
Les
den & RG
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Union Pac 14Th
Hscoi
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Mentee Amenremmant
Con
Cal & Va
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Jim Butler
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Lam
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Wall Street and Exchanges
Chicago, Milwaukee @ St. Paul
Miller
Exchange
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Frederic H. Hate
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le Bay
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Aot
Westchester Lawyers
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