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This newspaper page contains 13 articles. Subscribers can read the full text of each article.
Newspaper
New York Tribune
Location
New York, New York, United States of America
Date
Jun 11, 1920
Page
11
A historic stock sale presents common stock from a time-tested corporation with no bonds or preferred shares. Investors are invited to buy into the company, emphasizing ownership and potential growth without debt or preferred equity.
Early cotton market gains faded as trade worries lingered. Rumors of a semi monthly crop report unsettled prices, with July under pressure and spot demand softening. Weather was generally favorable but awaited official end of month figures, while Southern supply rumors influenced late trading.
A dense, OCR garble reports bond market activity and assorted corporate and commodity figures. It includes references to Del and Ohio, United States purchases, and a Credit Clearing indepth note. The text blends financial data with unrelated strings and dates, making a concise summary challenging. The clearly stated takeaway notes weaker demand, inventory drawdowns, and modest price firmness in apparel.
Questions from investors answered by the Financial Editor of The Tribune. Topics include bonds from St Paul Rock Island Atchison United States Steel Illinois Steel and preferred stocks like Railway Steel Springs and Standard Oil of New Jersey. Contingent on market conditions, opinions note France bonds as speculative but potentially leveraging crisis. Continental Motors shows increased earnings and potential investment, with 17.71 percent on common stock after preferred dividends and cash-rich status.
An investment note discusses $8,000,000 Central of Georgia percent notes secured by $1,000,000 of refunding mortgage bonds and general mortgage bonds. Belgium bonds offer speculative opportunities with annual draws at 15 percent and strong security. The Muskell Barker Car property, with no par value, shows earnings and dividends but carries limited funded debt. Overall, Mexico oil tensions and Merritt Oil present mixed prospects with caution against large-scale purchases.
The Minneapolis cash wheat market showed advances of 5 cents per bushel amid stagnant demand and stable export inquiries. Milling demand appeared improved while overall transportation remained limited, with foreign buyers cautious and local buyers slow to commit. Market wide changes were tentative as South and southern states suggested better conditions, but the outlook remained uncertain with prices fluctuating and volumes down.
Ottawa reports tentative trade agreements aimed at boosting commerce between Canada and the British West Indies. Provisions include extended preferential tariffs for the islands, expanded steamship service, and expanded cable facilities. Dominion action expected early next week.
A special meeting of National Park Bank shareholders is set for July 12 to authorize raising capital from 5 million to 7.6 million dollars. New stock will be offered to holders at par with one new share for every two shares owned.
May Department Stores Co. stockholders yesterday ratified the board of directors action to issue a stock dividend of 5 million dollars in 50,000 shares of common stock to holders of record June 25. The distribution is a 43 1 3 percent dividend.
At the annual meeting of the Westinghouse Manufacturing Company, directors were reelected with G. W. Davison added to the board. The note references bonds and offices at 14 Wall Street New York, and lists executive names amid the company’s listed financial dealings.
United States Steel Corporation reports May 81 unfilled orders at 19,947,466 tons, up 680,719 from April, the highest since July 1917. Officials cite ongoing transportation problems delaying deliveries and note some gains reflect resumed industries exceeding current production.
Advances of 10 cents a ton on domestic anthracite sizes took effect June 1 as several major companies raised prices while others held steady from early May. The Coal Trade Journal noted no expected recession in bituminous prices this week though traders remained wary. Railroad congestion and labor shortages hinder coal shipments, keeping anthracite movement low while local dealers meet immediate needs. export demand for high grade bituminous coal continues, but medium and poor grades lag.
Cotton knit jobbers report steady market conditions with firm prices though current demand is not as brisk as earlier months. They are not placing many new school orders, but maintain winter stock from the mill and book orders from retailers for future shipments.
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