Stock and Bond Averages in Yesterday's Market Report
The New York Tribune reviews yesterday's stock and bond activity with broad scans of railroads, industrials, utilities, and government securities. Notes include call money surges to 10 percent and currency weakness in London and Hong Kong, with the convention’s outcomes and tax payments looming as market drivers.
MENTIONED IN THIS ARTICLE
Federal Reserve Bank
Yeater Atese
Aix
New York
London
Sub-Treasury
United States
Canadian Exchange
Montreal
Silver Prices Fall Amid Heavy Indian Selling Pressure
Reports from India indicate heavy silver selling by investors and dealers, pushing the metal to its lowest level in months as foreign demand weakens. The fall follows weaker exports, a currency depreciation trend in Europe, and tepid domestic and international buying, with bullion traders citing government buyback rules and potential policy changes to support silver.
MENTIONED IN THIS ARTICLE
India
Europe
Japan
Indien Elling
London
China
London Money Market Report June 7
London money market reports silver at 54 3 4 per ounce and bar gold at 1058 1 2. Money rates show 4M percent. discounts for short bills at 6 11 18 percent. three month bills at 6M percent. Gold premiums in London quoted as 146.
MENTIONED IN THIS ARTICLE
London
Wall Street Politics and Bethlehem Shipbuilding Plans
In the financial district discussions shift to the presidential race with no clear front runner. Bankers show mixed leanings, some favor Hughes as a compromise. Johnson draws opposition. Ambassador John W. Davis appears the strongest Democratic option. Bethlehem Shipbuilding plans a capital raise from 15.5 million to 25 million dollars, mostly owned by Bethlehem Steel, aiming to boost working capital amid existing private contracts for 29 ships totaling 187,730 gross tons.
MENTIONED IN THIS ARTICLE
Wall Street
Wood
Lowdon Sen
Hughes
Ohe
Johnson
John W. Davis
Bethlehem Shipbuilding Corporation
Financial
Hethlehem Steel Corporation
Pan American and Mexican Petroleum Stocks Fall After Dividend
Doheny stock dividends of 10 percent on Pan American Petroleum A and B shares surprised the Street. Mexican Petroleum, also 10 percent, weakened. At closing, Mexican Petroleum was down 2.0 percent, while Pan American A and B fell 1 percent each.
MENTIONED IN THIS ARTICLE
Doheny
Pan American Petroleum A
Mexican Petroleum
Pan American A
American Woolen directors fail to raise dividend to eight percent
Directors in Boston did not boost the common stock dividend to 8 percent as predicted by financial circles. Only the regular quarterly distribution of 1.15 a share was declared on both stock issues. Rights to subscribe to new shares at 100 a share opened on the stock market, with trading activity described and ex rights values noted. Separately, Columbus stockholders voted to rename the company Pure Oil Company to reflect a larger oil business than gas.
MENTIONED IN THIS ARTICLE
San Francisco
United States
T 8
Boston
Stock Exchange
Enter Pure of
Ohe
Cities
Columbus
Pure Oil Company
Beet March
International Harvester Stock Dividend Debate Amid Board Talk
International Harvester slid yesterday and closed 8 points higher at 180 after directors met. A near term distribution plan remains unsettled with talk of a stock dividend around 40 percent previously hinted by John J. Mitchell of Chicago. Other directors reportedly favor 60 to 80 percent stock allotments and some push for a cash dividend increase from six dollars a year.
MENTIONED IN THIS ARTICLE
International Harvester Oe
John J. Mitchell
Chicago
Othors
Workers Seek National Boards of Labor Adjustment in Chicago
In Chicago last Saturday the labor committee of the Association of Railway Executives met with a committee representing seventeen railroad labor organizations. They requested national boards of labor adjustment instead of local or system boards. Wage questions remain with the Railroad Labor Board. The executives will study the request and report soon.
MENTIONED IN THIS ARTICLE
Chicago
The
Association of Railway Executives
Boards of Labor Adjustment
Railroad Labor Board
Crerosd
Executives’ Association
The Polish Loan Stuns Markets Through Polish Channels
The Polish loan of 50,000 900 Polish bonds for twenty years drew surprise from the financial community as liquidity poured in from extraordinary channels. The offer is primarily targeted to Polish investors in the United States.
MENTIONED IN THIS ARTICLE
Casimir Libomiraki
United States
Supreme Court Endorses Prohibition Amid Stock Exchange Groans
Stock Exchange floor echoed with groans as the Supreme Court affirmed the Eighteenth Amendment and the Volstead Act. Rumors that states might set alcohol limits were dismissed, and prices mostly held except for US Food Products and US Industrial Alcohol which saw modest sells driven by sentiment rather than fundamentals.
MENTIONED IN THIS ARTICLE
Stock Exchange Esterday
United States Supreme Court
Pephaibla
United Sate Food Producte
United States Industrial Alcohol
Barter Trade and European Credit Deals Highlight Vauclain
The Baldwin Locomotive Works chief Samuel M. Vauclain emerges as a dark horse at Chicago talks owing to his deft handling of international credit. He built key European ties, trading oil from Romania for locomotives and then selling the oil back to the British government at a profit.
MENTIONED IN THIS ARTICLE
Samuel M. Vauclain
Chicago
Baldwin Locomotive Works
Europe
Ameri
Romania
Paris Market Trades Dull with Heavy Bond Prices
Paris reports a heavy market with 3 percent rente at BO francs R2 centimes. London exchange at 60 francs 62 centimes. Five percent in RA francs. The dollar quoted at 12 francs 08 centimes.
MENTIONED IN THIS ARTICLE
Paris
London
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