Wall Street Notes on War Finance Policy and Markets
The War Finance Board ruling that the War Finance Corporation may not loan directly to war industries affects major borrowers like the Brooklyn Rapid Transit, signaling alternative funding must be found. The article also covers poker tax symbolism, copper mine shut-down risks at 23% copper, and recent Bank of France and London money market updates with bank clearings and currency rates.
MENTIONED IN THIS ARTICLE
War Finance Board
New Orleans Railway and Light Company
War Finance Corporation
Wall Street
Brooklyn Rapid Transit
Brooklyn
Why Cotton Prices Go Untouched by Regulation
A Wheat Farmer from Croton-on-Hudson, N.Y. protests in a letter to the editor dated May 20, 1918, questioning why government price controls target steel copper zinc cement wheat wool and other goods but not cotton, which jumped from 1 8 to 96 cents per pound, costing war efforts and prompting large government purchases.
MENTIONED IN THIS ARTICLE
Houghton, Mich
Washington
the Tribune
Croton-on-Hudson, N
Money and Credit at the Stock Exchange Yesterday
The call money supply was fairly abundant with ruling rates near five to five and a half percent. Moderate business activity occurred with some loans on mixed collateral at four percent, though rare. Renewals at six percent for short terms were noted as demand remained large. time money for various periods ranged from four to six percent. Bank Acceptances unchanged with spot and eligible delivery rates listed for banks and nonmembers, while ineligible rates appeared for certain categories.
MENTIONED IN THIS ARTICLE
Stock Exchange
Ats
Wool Trade Faces Many Difficulties in 1918
Boston May 31 The Commercial Bulletin reports the government plan for handling the new domestic clip is being rounded into working order though difficulties remain due to scale. High costs and labor shortages hinder wool supplies for government fabrics, while gold mining worldwide faces rising costs and labor shortages. Canadian mines curtail output as military demand saps labor.
MENTIONED IN THIS ARTICLE
Boston
Geological Survey of
California
Tranavaal
South Africa
Australia
Montreal
Wall Street
Canada
Marine Preferred Skyrockets After Directors Meeting
A special board meeting of the International Mercantile Marine Company discussed progress in transferring British subsidiaries to an English syndicate. Franklin reported progress but declined details. Preferred stock jumped to 104% in trading, with strong support, while common rose 4% and bonds showed strength. Investors attributed the move to expected deal terms and war tax factors.
MENTIONED IN THIS ARTICLE
International Mercantile Marine Company
P. A. S. Franklin
Financial
Marine Board
Stock Exchange
Preferred
Littl
Franklin
Wilson
Non-Essential Problem in Canada War Effort
A Canadian Bank of Commerce note argues labor and material shortages require government priority for war needs then food and essential business. It warns unrestricted competition would raise costs and prices, urges transfer of labor and materials to essential industries, and cites compulsory employment under sixty and licensing of certain trades.
MENTIONED IN THIS ARTICLE
Canada
Canadian Bank of Commerce
Market Barometers and Stock Exchange Totals
Market barometers show mixed totals in yesterday and week figures with rail, bonds, and government issues listed. U S gov bonds and railroad bonds contribute large sums, alongside Allgonda figures and January 1 to date totals for 1918.
MENTIONED IN THIS ARTICLE
Stock Exchange
U.S. Gov
Allgonda
Uncertainty Hurts Railroad Men
Special Correspondence from Chicago on May 30 reports that fear and unclear policy from the Federal railroad administration are harming railroad executives and workers. The mass changes under the Director General, including removal of presidents and road unification, foster hesitation, reduced information flow, and lower morale across the national rail system.
MENTIONED IN THIS ARTICLE
Chicago
Federal Railroad Administration
Russian Coupon Payment Looms For 25 Million Bond Issue
The semi annual interest on the 25 million Russian government external 54 percent loan falls due today with 687 500 disbursement sought to bondholders. At National City Bank no payment confirmation was given though a statement was expected. Reports suggest Treasury scrutiny may halt further disbursements though no action is recorded. The 49s formerly sold to syndicates at 94 now trade around 35 after only 25 million of the planned 50 million bonds were placed.
MENTIONED IN THIS ARTICLE
National City Bank
United States Treasury
New York
Significant Relations Money and Prices Analysis Notes
Economic data on gold reserves money supply and price indexes from historical U.S. reports. Includes figures for gold held by Reserve Banks loans bills circulated and price level indices plus production crops and industrial metrics with notes on measurement baselines and comparisons to prior periods.
MENTIONED IN THIS ARTICLE
Federal Reserve Banks
Federal Reserve
Goseson
Interborough Seeks War Finance Loan Amid Rail Credit Debate
The War Finance Board considered a Brooklyn Rapid Transit loan request while denying a direct $37.7 million loan to New Orleans Railway and Light. Interborough seeks $87.7 million for three years to finish new subways as costs and wages rise, prompting dividend cuts and cash strain. Public utility firms urged cooperative debt renewals to weather wartime pressures.
MENTIONED IN THIS ARTICLE
Interborough Rapid Transit Company
War Finance Corporation
New Orleans Railway and Light Company
War Finance Board
New Orleans Company
Government Corporation
Wall Street
Brooklyn Rapid Transit Company
Interborough
Treasury
Public Service Commission of New York
War Finance Authorities
D. D. Curran
First Moslem Bank Organized in Tunis
The Souk-El-Grana in Tunis hosts the first Moslem bank in the Regency, the Comptoir of Commercial Arabe, with 400,000 francs capital fully subscribed and Arabs in control. Its early scope is mercantile, reflecting Arab adaptability amid Koranic interest rules and caution in a conservative community. The note also highlights Arab commercial prowess seen in Djerbian traders expanding native and European trade.
MENTIONED IN THIS ARTICLE
Tunisia
Souk-El-Grana
Tunis
Frst
Regency
Comptoir of Commercial Arabe
Homer
Canadian Car Declares 8 Percent Dividend on Preferred Stock
Directors of Canadian Car and Foundry Company Ltd declare an 8 percent dividend on preferred shares. This first payout since June 1914 is to cover deferred dividends. directors will consider regular quarterly disbursements and further back-dividend payments at a later meeting. President Nathaniel Curry cites satisfactory earnings and a high material cost environment. The company has paid off bank loans.
MENTIONED IN THIS ARTICLE
Canadian Car and Foundry Company, Ltd
Nathaniel Curry
Curry
Pennsylvania Railroad Sees Smaller April Losses than March
The Pennsylvania Railroad system shows a reduced April net railway operating loss of 2.07 million versus 3.67 million in March as gross earnings rise by 5.81 million. East of Pittsburgh accounts for a $1.44 million drop in net income, while the west declines by about $0.63 million. overall earnings gains outpace March, with operating income up about 1.71 million.
MENTIONED IN THIS ARTICLE
Pennsylvania
Pittsburgh
Market Wrap Shows Mixed Lender Premiums and U S Steel Slide
Brokers report lenders of American Sumatra shares asking a premium of one-quarter of 1 percent, signaling persistent short interest as the stock traded around 131 after a drop from 145 to below 125. United States Steel slid despite ex-dividend, closing down 2 points at 97 after weak distribution hopes. Carolina Shipbuilding details via Emergency Fleet Corporation contract set for Wilmington, NC, with a $20.514 million price. A Canadian war loan of about 500000000 is anticipated in autumn. Liberty seconds and 4 percent bonds hit new lows while tax exempt Stys held firm. German offensive progress weighs on Anglo-French 5s near 90.
MENTIONED IN THIS ARTICLE
United States Steel Common
United States Realty and Improvement Company
Carolina Shipbuilding Corporation
Laurence W. McGuire
Wilmington
N. C
Liberty
Stock Exchange
Twine Supply and Price in 1919 Farm Market
The article discusses the 1919 twine supply crisis affecting farm equipment stocks and the risk to saving a large corn crop. It notes possible remedies via retail distribution and regulatory pressure from the food administration, while reporting the Granite City Illinois Corn Products Refining Company plant suspending a labor operation.
MENTIONED IN THIS ARTICLE
Desser
Food Administration
Corn Products Refining
Pany
Granite City
Til
Northern Pacific Meeting Postponed to June 25
The annual meeting of the Northern Pacific Railway was adjourned again yesterday and reset for June 25. Directors and key officers will reconvene to address ongoing agenda items and corporate matters.
MENTIONED IN THIS ARTICLE
New York
Northern Pacific
Northern Pacific Railway
Famine in Goods For Civilians Feared
Trade reports warn of civilian shortages as war demands divert outputs. Bradstreet’s Review notes rising preoccupation with supply scarcity and accelerated shipments, while textiles shrink civilian activity. Wages rise for women and railroad workers expand purchasing power, yet goods for civilians dwindle amid government price fixing and redirection of resources.
MENTIONED IN THIS ARTICLE
R. G. Dun & Co
Colonial Navigation Company notices and Pittsburgh traction bonds
Notices announce a stockholders meeting at Pier No. 1 North River New York on May 41 1818 at 2 p m to elect directors and officers for the year and to inspect election matters. Also payments on June bonds due 1915 and a 1918 summary of earnings for Braun Treasures and subsidiary firms with gross income and net results, Virginian Railway annual report shows revenue and earnings for 1917 and 1918.
MENTIONED IN THIS ARTICLE
Canadian Northern Railway
Colonial Navigation Company
Colonial Navigation Co
North River
Civ
New York
Folly
Rickard KE. Fitzgerald
Second Avenue Traction Company
Pittsburgh
Massra
Browe Bros .Co
Wall Street
Braun
Virginian Railway
Com
Bi i
American Can Co Quarterly dividend on preferred stock
The American Can Company declares a quarterly dividend of one and three quarters percent on its Preferred Stock payable July 1, 1925 to stockholders of record at the close of business June 12, 1925. Transfer books remain open. Checks may fail. Secretary & Treasurer
MENTIONED IN THIS ARTICLE
United Drug Co
James C. McCormick
Foston
American Can CO
Eral Chemical Company
Troan Burvet
New York
BOM Jana
Lancaster Morgan
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Finance Economics
Mills Building
Broad St
Wall Street Journal
Slanover
Bank
Bank of France
Paris
London
New York City
Denmark
Sweden
England
de Best
Philadelphia
Cleveland
Richmond
Atlant
St le
Minesport
Kansas City
Dallas
Is. Fie
San Francisco
Stockholm
Copenhagen
Ker
Ch’ks
United States Mint
Money and Credit
Marine
U. S. Gov
Bonda
Industrals
City Bank
P. C
Pni
Sumatra
aShares
U. S Realty
Omidiala
Bond Dealers’ Association of Canada
Ottawa
Thomas White
News Digest
The
Farmers’ Loan and Trust Company
William Street
Fifth Avenue
41St Street
Pall Mall
East
Old Broad Street
F.C
Bordeaux
United States Army
France
United States Treasury Department
Federal Reserve Bank and
New York Clearing House
Nevada-California Electric Corporation
the Compan
Artered Ins
Union Trust Co
Broadway Bay 2
St. Fin Ay
Guardian
Ate
Cates
Hiye
Tile and Mortgage Company
Broadway
Andrew J. McCormack
Adrian H. Muller
Goneamere
New York Bottling Co
Winslow, Lanier & Co
Cedar Street
American Cotton OH Co
American Cotton
Lux
Cioctnnall
Ricsmond & Fe
Wayne Ta
Cleveland & Pitts, RA Co
Clemland A Pitts
Rd Co
Bettermeet Stork Dixquar
Marion County
Ind
Portamouth
Ohio
Randolph County
Indiana
Marton County
Torsmouth
United Hug Company
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