Wall Street Faces Strains From Debts and Holdings
The stock market shows broad unease as lenders and corporations wrestle with delayed payments and creditor pressures. Analysts note rising defaults prompt lenders to seek costly litigation, while bankers debate influence over Federal Reserve board nominations amid mixed signals from Group 3 bankers.
MENTIONED IN THIS ARTICLE
Wall Street
Stock Exchange
Ian
Mark Mackeye
El Paso Electric declares regular 3 percent dividend
Public utility notes show El Paso Electric Co directors declared a regular semi annual dividend of 3 percent on pre dock shares payable July 12 to record date July 1 along with April earnings totaling 41 419 up from last year and revenue of 123 479, 4 073 above prior period. Detroit United Railway reports April earnings at 1 00 with a $34 405 decline in gross and a 9 148 fall in net. Surplus after charges was down 5.90 from March. Four month earnings totaled 70 98 with a loss of ...
MENTIONED IN THIS ARTICLE
Manouri
Mhorh Am
White Grove
Jexst
Jone
el Paso Electric Com. Mey
Detroit United Railway
Detroit United Railway Co
Changes in National City Bank announced
James H. Versinn of the National Commercial Bank Albany was elected vice president of National City Bank. Arthur Kavanagh, now cashier, was named another vice president, giving ten in total. GE Gregory, promoted from assistant cashier to cashier, Carter the chief clerk, as assistant cashier. Verkire will assume duties in about a month. Derkine, born Milton, Mass, and ex‑president of American Trust Boston, moved to National Commercial Bank in Albany in 1912. Kavanagh has long service at National City Bank, rising from chief clerk in 1878 to assistant cashier in 1906 and cashier in 1906.
MENTIONED IN THIS ARTICLE
James FH. Versinn
Commencal Bank
Albany
Cy Hawk
Arthur Kavanagh
GE. Gregory
Carter
Verkire
National City Bank
New England
Derkine
Milton
Mase
Martard University
American Trust Company
Boston
National Commercial Bank
Federal Reserve Bank
New York
Perkins
Sd Reserve District
Reserve Bank
Kavanagh
Wall Street Briefs Highlight Board Changes and Capital Increases
Transactions in foreign accounts yesterday totaled about 000 shares, largely sold. KE L Newhouse joins Guegenhelm Exploration’s board replacing O B Perry. State Bank stockholders vote to raise capital from 10 000 to 1 500 000. George Davidson elected to Philadelphia Company board succeeding Patrick Calhoun. Southern Atranium Company names M Barendson and J Borde longue directors, approves 37 060 mortgage issues at up to 6 percent interest. James Ward Warner elected president of the New York Produce Exchange, E G Broenniman becomes vice-president, Edward C Whice re-elected treasurer. Heading Company stockholders elect Isaac Miexter as director to replace the late George F Baer.
MENTIONED IN THIS ARTICLE
Guegenhelm Exploration Company
KE. L. Newhouse
O B. Perry
State Bank
Philadelphia
George §. Davidson
Dirators
Patrick Calhoun
Southern Atranium Company
Peeter- Gay
M. Barendson
J. Bordelongue
James Ward Warner
Vce
New York Produce Exchange
E.G. Broenniman
Mr. Warner
Edward ¢. Whice
Isaac Miexter
George F. Baer
Col Wall Amends Suit Against Copper Mines Company
Colonel Wall of Salt Lake amended his suit against the Consolated Copper Mines Company by withdrawing his allegations and prayer for receivers at a Broadway meeting. Stockholders elected George D. Hopkins A. J. Selfridge Thomas B. Adams Charles H. Boynton and Edwin F. Gray as directors, succeeding several former directors.
MENTIONED IN THIS ARTICLE
Anaus Nercne
Consolidated Copper Mines Company
TL Broadway
Colonel Wall
Salt Lake
George D. Hopkins
A. J. Selfridge
Thomas B. Adams
Charles H. Boynton
Idwin F. Gray
Ralph C. Lupton
W. Minklé Smith
James Phillips
Droke B. Thompson
Witham HB
Joyce
Bank Clearings Fall Across May in U S Cities
May bank clearings show overall decline with losses of about 8 percent from last year across 199 lending cities, totaling $13,000,881.60. New York City reports a 1 percent drop and 17.6 percent in outside cites, while broader regions show 26 and 22 percent decreases.
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Pun
United States
Thame
York City
Idaho Judge Fights For Brother Estate Inheritance
Albany, Tun Judge John Kenneally of Idaho City Idaho loses in Court of Appeals a bid to recover funds from the estate of William A Kenneally of Brooklyn who died in 1886. The judge claimed he was a half brother entitled to part shares and challenged the state treasurer hold. Various claimants have sought the estate over the years.
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Albany
John Kenneally
Idaho City
Idaho
William A. Kenneally
Brooklyn
Kenneally
Edward
William A. Kennearly
the Tribune
Market Curbs: Mixed Trading Across Sectors Yesterday
Trading in curb securities showed a mixed day with slight gains in some oil issues yet overall weakness. Several stocks fell or slid modestly including Standard California Vacuum Oil and Prairie Oil Gas, while Blantl of Indiana rose modestly and McKinley-Darragh advanced. Consolidated reversibles moved up fractionally and Missouri Pacific 6 per cent notes remained firm at 2.
MENTIONED IN THIS ARTICLE
Frean & Few Oil Ixeues
Maxwell Motors Salon
United Profit Sharing Corporation
Willys Overland
Blantland
Indiana
Polite
Standard California
Vacuum Oi
Standard of Nebraska
Prairie OM and Gas
Continental Oil
Standard of New York
Tonopah Merrer
Jumbo Extension
Florence
West End Consolidated
Gro
McKinley-Darragh
Consolidated
Missouri Pacific
Cotton Market Sees Realizing Amid Mixed Cotton Prices
The cotton market showed heavy realizing with prices near steady to slightly lower, reflecting profit-taking despite a mid day rally sparked by a bullish Weather Bureau report. Liverpool activity and Western belt weather prospects influenced trade as figures fluctuated, closing at season low points amid ongoing demand for lower grade uplands.
MENTIONED IN THIS ARTICLE
Weather Bureau
Liverpool
Grains rise in Chicago as wheat leads gains
Chicago markets closed firmer with wheat rallying on bullish European crop signals and dwindling stocks. Corn oats and provisions followed with modest advances. drought damage and heat in Russia offset by expectations of smaller harvests in Romania and Hungary. World supply shortages outpaced last year’s pace with price ranges shown for September and December contracts. Data lists stocks and commodities including wheat, corn and lard.
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Chicago
Russia
Rumania
Hungary
Jose
Price Movement in Commodities and Wheat Boost
The July corn options surged with shorts squeezed in an 1%e per bushel advance at the high of the day. Wheat gained about 10 440 on bullish factors though intraday slips occurred before the close. A Chicago estimate pegs total crop this season at 17,000,000 bushels versus last year’s 768,380,009. Oats inched up amid light activity. Coffee saw a loss of momentum from an opening gain, closing slightly up. Prices for No 2 yellow corn and No 3 hard winter wheat are noted, with state reports citing winter wheat conditions around 48 percent. Interior receipts and seaboard clearances are reported, with New York futures showing modest gains across wheat and corn.
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Boston
Mint A
Trinity
Utah
Wingtia
Wyandotte
Dbonton & Ant
Boston & Lowell
Hoxton & Maite
Reece
Hohemia
Baltic
Rontun Ely
Majestic . Ee
Philadelphia
Seley
Phila Co
Ing
Pittsburgh
Hi Law
Ben Pi
Columbea Gamie
I Cractiste
Ohio
Pforsheimer
Ranenes
Baltimore
Mit $S & Hire
Berland
Hobbs
Arun
Joy
Indiana Fipe
Geys
Nort & i
Goler Refining
Roya We
Rae
Penn Oil Ie
Chicago
Kansas
Damon Mateh
Ollo
Mont Ward
Nebraska
Rusia
New York
Duluth
Buffalo
Jay Ei
Copper and tin markets show mixed quotes and quiet trade
The market report notes unsettled copper with spot and futures near mixed levels and dull activity. Tin ranges are listed with spot and futures prices, while iron markets in Middlesboro and regional regions show quiet trading and varied grades.
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