Wall Street Jitters As War News Spooks Markets
Wall Street faced a volatile session as war news spooked traders. Initial rumors of a port closure and German submarine activity sent prices down before actual reports of sinking ships steadied sentiment and helped steel shares recover. Industrials fell then recovered, while railroads faced supply bottlenecks and labor pressures. Bank and currency data show heavy borrowing, with credits shifting as the economy adjusts to wartime needs and government demands.
MENTIONED IN THIS ARTICLE
Wall Street
United States
New York
Stock Exchange
United States Navy
Shorts
United States Steel Common
Money and Credit Markets Report Recent Tender Rates Rise
Money and Credit fires of the month show firmer money in the market yesterday with call loans at 4 percent, up from 3 percent on Thursday, and about $15 million placed. Time loans against stock exchange collateral trended higher due to scarce offerings. industrial collateral loans sat at 4.5 percent for three to five months. London money market notes slight disturbance from war loan dividends with short bills at 4.0 percent and three month bills at 4.0 percent. The local treasury transferred $4.966 million to San Francisco by telegraph for gold shipments to Japan, with expectable exports around $50 million to Tokyo in summer. local bankers withdrew $400,000.
MENTIONED IN THIS ARTICLE
Spain
United States
Stock Exchange
London
Lisbon
Japan
Tokio
Yokohama Specie Bank
Hang of
Tareas
San Francisco
Tyta
Lankern
Foreign Exchange News Shows Pound and Ruble Shifts
The market reports a new high for the dollar in foreign exchange at 227 cents, with Spanish peseta weak after a $400,000 gold export announcement. Russian rubles slipped to 26.25 cents, while Danish and Swedish rates held firm. bankers halted all dealings in German and Austrian exchange and no daily quotations were available for marks or kronen.
MENTIONED IN THIS ARTICLE
Unity Guilders
Stockholm
Copeshagen
United States
Denmark
Sweden
England
Gold Imports Drive Inflation in Japan Report
A Consul General report dated June 1 to the State Department notes that Japan's gold imports have spurred inflation. By April 25 total holdings reached $301,22 million, up $5,482,300 from the prior period. Bank of Japan reserves fell by $498,000 while government holdings sit around $143,009,100, with gold distributed between home stocks and deposits abroad.
MENTIONED IN THIS ARTICLE
Washington
Japan
Ural
Seldmore
Yokohama
State Department
Bank of Japan
London
New York
Standard Oil Exits German Market Early in War
Standard Oil of New Jersey loses control of the Deutsche Amerikantsche Gesellschaft to German capitalists, transferring voting stock and tanker interests before U.S. entry into the war. The move signals evacuation of the German field, with earnings and shipping assets shifting to American ownership amid wartime disruption.
MENTIONED IN THIS ARTICLE
Deutsche-Ameri- Koniweho Petroleum Gesellschaft
Geremany
Standard Oil Company of
New Jersey
Standard
Germany
United States
Texistry
Standard of New Jersey
Heinrich Riedemann
Deutwehe Gesellschaft
New York Central Secures Bond Restructuring Approval
New York Central received permission from the New Jersey Public Utilities to retire 70 million dollars in Lake Shore collateral gold bonds by issuing 4 percent consolidation gold bonds. The company also won approval to issue 42 percent refunding and improvement bonds up to 210 million dollars at par, redeemable on any interest day at 119 percent.
MENTIONED IN THIS ARTICLE
New York Central
New Jersey Public Utilities
Lake Shore
Hudson River Railroad
New York Central Trailroad Company
Treasury Issues $200 Million More In Certificates
The Federal Reserve Bank of New York notified member banks of a new issue totaling $200,000,000 of United States Treasury 3 percent certificates. Subscriptions close in June, with certificates maturing July 20, bringing total Treasury certificates near the $1 billion mark across several issues.
MENTIONED IN THIS ARTICLE
Federal Reserve Bank of New York
District Ast
United States Treasury
Treasury
Cotton Crop Is Starting Under Severe Handicap
The Department of Agriculture reports the cotton crop on May 25 at 60.8 percent of normal, down from 77.5 last year, with cold, drought, and pests as major factors. Replanting is widespread across the South, stands are stunted, and germination is uneven. Labor shortages exist east of the Mississippi, while western states may have enough help. State by state conditions cited. acreage planted to be announced July 3.
MENTIONED IN THIS ARTICLE
Washington
Department of Agriculture
Mississippi River
Virginia
North Carolina
Alabama
Mississippi
Texas
Arkansas
Missouri
Okla
California
Market Jumps On Poor Crop Outlook
A rapid advance in the local cotton market followed a government crop report. December contracts rose to 2148 and settled near 21.9, with other deliveries closing strong and gains of 62 to 73 points. Foreign buying remained active.
MENTIONED IN THIS ARTICLE
Essen
Nesterday
Market outlook and trading activity amid crop concerns
The notice discusses large new trader activity totaling 918 million and June condition figures signaling a poor crop start. It notes heavy buying by domestic and foreign interests, expectations of price pressure through the growing season, and mixed regional responses with southern markets higher by 25 to 50 points. Exports for the day reached 15 17 bases, totaling 4 876 003 for the season.
MENTIONED IN THIS ARTICLE
Wall
Sale of C H and D to The B&O Proposed
Morrison R. Waite and other legal representatives of the Cincinnati Hamilton and Dayton Railroad in receivership told the Ohio Public Utilities Commission that a plan to sell the line on June 7 is expected to result in a purchase by the Baltimore and Ohio Railroad.
MENTIONED IN THIS ARTICLE
Columbus
Oho
Morrison R. Waite
Cincinnati
Cincinnati, Hamilton & Dayton Railroad
Ohio Public Utilities Commission
Baltimore & Ohio Railroad
Significant Relations Loans and Reserves Across National Banks
A historical statistical snapshot shows national banks' total reserves at 3,121,887,443 currency units with deposits at Federal Reserve banks totaling 7,490,000,000 and a reserve ratio of 65.8 percent against gross deposits. It lists federal discounts, note liabilities, gold reserves, and several sector metrics including railroad and industrial stock averages, production indices, and crop outputs. Additional figures cover freight car shortages and surpluses, bank clearings, commercial failures, and gross railroad earnings, all reflecting the era's financial activity.
MENTIONED IN THIS ARTICLE
Federal Reserve Banks
Reflected War Demands Push Japan Zinc Ore Imports
Japan faces a zinc ore deficit of about 110 000 tons yearly as domestic output stays around 19 000 tons. Imports from Australia and China cover the gap while wartime refining lures leading firms to expand, with projections of demand reaching 350 000 to 380 000 tons. Italy responds to coal shortages by forming a Supreme Council for Public Waters to harness water power, seeking rapid legal changes to its water rights.
MENTIONED IN THIS ARTICLE
Japan
Australia
China
Masari
Suzuki & Co
Osaka Mining Company
Denka Aven Kogyo Kaisha
Italy
Supreme Council For
Neil
Deeres
Strength Shown in London Stock Market
London reports a strong stock market as war loan dividends of 10 million pounds are paid and reinvestment is anticipated. gilt edged securities, shipping shares, ammunition, Marconi and low priced shares firm, with Brazilian and Mexican issues sound. Americans and speculatives dull, market tone mixed.
MENTIONED IN THIS ARTICLE
London
Dividend notices from multiple companies
Dividend announcements list payments from American Car & Foundry, South Ports Rico Sugar, Yale & Towne Manufacturing, Baltimore Tube, Oklahoma Producing & Refining, William Cramp & Sons, Standard Oil of Kentucky, Vokton Alaska Trust, Pennsylvania Rubber, Cuba Railroad, Missouri Kansas & Texas, and Philadelphia & Reading Rails. Details include per cent or dollar per share, dates of record and payment, and special notes on preferred and common stock. Also includes a description of an auctioneer dial bidding mechanism for selling goods.
MENTIONED IN THIS ARTICLE
American Car and Foundry
Barat & Susiuehanns Railroad
South Ports
Rico Sugar
Stork
Warterly
Yale & Towne Manufacturing
Oklahoma Producing & Refining
William Cramp & Sons Ship & Engine Building
Kenturkhy
Vokton-Alaska ‘Trust
Btn
Stocie
Pennerlvania Rubber
Western Lumber Men Fight Rate Increase
Western lumber dealers urged the Interstate Commerce Commission to block a proposed 15 point freight rate rise, warning it would cut shipments and deepen losses for Pacific Coast timber firms. Junius I. Brown of the California Redwood Association cited a recent industry downturn, while W. G. Powell argued eight hour days raised payroll and that western lines need smaller increases than eastern and southern roads.
MENTIONED IN THIS ARTICLE
Washington
Interstate Commerce Commission
Tir
Junius I. Brown
California Redwood Assosciation
W. G. Powell
Nebraska Railway Commission
Lincoln
Chicago, Arlington
Wetern
Coal Rates to Lake Ports Not Disturbed
Washington reports a tentative Interstate Commerce Commission decision to keep existing coal rate schedules from Pennsylvania West Virginia Ohio Kentucky and Tennessee mines to lake ports unchanged. Shippers challenged the rates as unreasonably high. argument on the report set for June 14.
MENTIONED IN THIS ARTICLE
Washington
Interstate Commerce Commission
Fennsylvania
West Virginia
Ohio
Kentucky
Tennessee
Also Mentioned on This Page
Finance Economics
Mills Building
Broad St
Priday
Russia
France
Industria
Tne
Federal
Ku'g. Dun & Co
Isis
F. J. Appleby
Foregn Exchange Department
Union Bank of Canada
Dominion
Europe
Royal Wheat Commission
Haw
Boston
Chicago
Philadelphia
Louis
Money and Credit
Standard Oil
Teutonic Capitalists
Rockefeller
Deutsche-Amerikantsche Gesell- Sechaft
Normer
Etroleum
Romania
Sheffield Coal and Iron
William Cramp & Sons’ Ship Company
Henry 8. Grove
H. W. Hand
New York & Honduras
Rosario Mining
Anntal
Journal of Commerc
Say
Close
Ape
Cash
Co Tracts
Apniy
Ayer
News Digest
Moody’s Magazine
the Investment Weekly
Broadway
York
Andrew J McCormack
Myetionen
Aletion
SBMS
Heiluler
BUSH
Tetemucne
Baneuteore
Waoaha
Nath Boteliere
Orrecore
Charmer of Commerce
Benve Hhar Acraunt
Siphenane
Canada
Vicimtog
Wereitione
Caras Aehonnitty
Chics
Ion Walls Teast
Partes Seine Chico
Ole Trust
Ketent
Helena
Cobelli
Sam Re Wei
Reece Jus Hudson Trust
Resalar
Minealdtte
April Grove AziRabs St
Virginian Railway
Xeon
Pennsylvania System
Bax
Pennsylvania
Paris
AU Rete
Engaz
R. F. Wollman
Bleecker Street & Fulton Ferry Railroad Company
New York Railways Company
American Car & Foundry
Xtra
Cuba
Magderore Jeffeit
Net
Canensee Jphia Company
Toledo
Peoria & Western Mail
Suatare
Bufale & Susquehanna
Rose Ball
Rotel
Missouri, Kansas
Tras
Emony
Iene
SANT
Philadelphia & Reading Rails
Philadephia & Reading
Wren
Ieee A Og
Ene Ec Sas
Liberty
Farmers’ Loan & Trust Co
William Street
Fifth Avenue
41St Street
Nebraska Commission
U. S. Liberty Loan
Henry Clews & CO
This is just the beginning! Our collection holds over 300 years of history, including rare newspapers, obituaries, marriage records, birth records, and so much more—most of which you won’t find anywhere else!