Hearings End on Rail Freight Rate Increase Request
The Interstate Commerce Commission completed hearings on a proposed 15 percent rise in railroad freight rates. Both sides presented extensive figures and exhibits. Markets and money rates show mixed signals amid war-time economic shifts, with expectations of a July decision and discussion of gold pools, Liberty Loans, and international gold flows shaping the financial backdrop.
MENTIONED IN THIS ARTICLE
Interstate Commerce Commission
Commerce Commission
Wall Street
Puch
Jer P
Dollar weakness in Russian exchange shocks local market
The dollar showed extreme weakness in the Russian exchange with rubles falling to a low of 25.50 cents and closing near 00. The peseta strengthened to 23.45 cents for a new high. The rest of the market stayed quiet with rates steady. American bankers halted all dealings in German and Austrian exchange, eliminating daily quotations for marks or kronen.
Foreign exchange rates and money market summary
The column lists current foreign exchange values in dollars and cents for sterling francs guilders lire Swiss rubles and other currencies with intrinsic values. It explains pounds trading around 4.75 to 4.86 dollars and notes money rates moving higher as demand for dollars to settle England accounts grows.
MENTIONED IN THIS ARTICLE
Stockholm
Copenhagen
UN States Mint
Denmark
Sweden
England
U S Steel Declares Extra Dividend For July Disbursement
United States Steel directors announce an extra dividend of 2 percent on common stock plus 1 percent Red Cross contribution for July. Regular quarter payments include 1 percent on preferred and 11 percent on common. Total disbursements near 32.99 million, a company record, with earnings expected around 125 to 130 million for the quarter.
MENTIONED IN THIS ARTICLE
United States Steel Corporation
Tata
Red Cross Relief Fund
Red Cross
Wall Street
Great Northern Ion
White Motor
Llenrlee
Products Corporation
Toronto
Hamilton
Buffalo
American Gas & Electrica
Stark
Kanawha & Michigan
CertainTeed Products Corporation
Slos-Shefield Steel & Tran
Northwestern Yeant
News Digest foreign Stock Market in London Cheerful
London on June 12 reports cheer in foreign markets despite Chancellor statements. Gilt edge securities rise while Spanish, Mexican, and Argentine issues lead gains. Russian securities stay weak. American sector quiet with irregular prices. London money supply increases with easy discount rates. Paris exchange and rates noted.
MENTIONED IN THIS ARTICLE
London
Lisbon
Warin
Paris
Exchange
France
Premium on cash as ruble trades near historic low
Foreign money brokers in New York quoted Russian government bank notes at about 30 cents, a premium of 6 1 8 cents over the 23 50 cent ruble exchange. The drop reflects limited cash ruble supply due to prohibitions on shipments, with buyers hoping for future rehabilitation while the Provisional Government’s grip wobbles amid war news.
MENTIONED IN THIS ARTICLE
New York
Petrograd
Zimmermann & Forshay
Rusjane
Russia
White Star Line reports 1916 profit and allocations
The White Star Line posts a profit of £2,402,758 after reserves and taxes, with £1,050,636 net after allocations. Dividends total £750,000 at 20 percent, and £300,836 is carried forward. Also noted are matters involving Carolina & Yadkin River, Pittsburgh-Youngstown-Ashtabula revenues, and various copper and mineral producer notes with dividend details from several companies.
MENTIONED IN THIS ARTICLE
White Star Line
Decante Steam Navigation Company
General Reserve
General Purposes Fund
Hearings Close on Rail Rates Increase Bid
Washington June 12 hearings on a 15 percent freight rate raise by U S railroads closed before the Interstate Commerce Commission after three weeks of testimony. Shippers claim earnings rise and warn the move would tax producers. Carriers cite higher costs from the Adamson law and materials amid war. The commission has eight days to reach a decision. Treasury near balance shows receipts 7 362 832 payments 5 611 928 with a 28 853 155 deficit for the year.
MENTIONED IN THIS ARTICLE
Washington
Interstate Commerce Commission
Clifford Thorne
United States
Patterson
Pennsylvania Railroad
Supreme Court
United States Treasury
Ford
Stock market swings absorb cautious trading amid rails gains
Active securities faced firmer but uneven moves as money rates rose and banks tightened collateral. Rail shares led gains with Transcontinental, Western, and Southwestern among leaders, while United States Steel and Bethlehem Steel posted notable moves. bonds softened and gold reserves remained steady. Demand for baser metals rose with war impact, as bar silver climbed to 77 cents and lead prices reached near thirty year highs amid high inquiry.
MENTIONED IN THIS ARTICLE
Savage Arms
Industrial Alcohol
United Cigar Stores
Ward
United States
We Must Conquer The World For Democracy Liberty Bond Appeal
Motivational wartime text urging all Americans to support the Liberty Loan drive. Emphasizes national unity and sacrifice, stating every citizen should buy a Liberty Bond to fund soldiers and defend democracy. Warns that withholding funds aids the enemy and endangers home safety.
Appeal Under the Auspices of a Settlement Board
A terse notice describes an appeal heard under the auspices of a settlement board. The document notes procedures, possible remedies, and attendees, with emphasis on mediation and potential adjudication outcomes. It lists involved parties and references to governing statutes guiding the appeal process.
Call to Respond to National Call for War Bond Subscriptions
Subs may be sent through undersigned Fachange members or your banker or broker. Obtain necessary blanks and information from them. Friday is your last opportunity to respond to the country’s call, but do not wait until the last minute.
Subscriptions and Partners Named in City Advert
A long list of firms and individuals appears in a subscription notice naming George Bancroft Con Biddle Co Bryant Dunn Co Ogden Budd Co Lawrence Dietz Cow William Dugan Edwards Gatenby Emanuel Varcoe Cow Louis Friedman Helminway Guibert J Frank Howell Kenedy Co John Keogh Lee Krinsky Latham JE Levi Con George W Liebmane Liebeskind MacDonald Cos McConville F L Milliken Cow Morris Wilmann Morgan Maurer Perpall Co Benjamin Solomon Sparrow Co Leo Spingarn COL Van Buren Cow Frank J Waters Wilon Chardon in a public notice inviting subscriptions and listing participants.
MENTIONED IN THIS ARTICLE
George Bancroft & Con
Biddle & Co
Bryant, Dunn & Co
Ogden
D. Budd & Co
Lawrence J. Dietz & Cow
William S. Dugan & Co
Edwards & Gatenby
Emanuel, Varcoe & Cow
Louis Friedman & Co
Hleminway A Guibert
J. Frank Howell
Kenedy & Co
John P. Keogh
Lee Krinsky
Latham
JE. Levi & Con
George W Liebmane
CS. Liebeskind
W. A. MacDonald & Cos JR. McConville & Cow
F. L. Milliken
Cow
Morris & Wilmann
Morgan & Maurer
Clarence C. Perpall & Co
Benjamin Solomon
W. H. Sparrow & Co
Leo Spingarn
Henry Stave
COL van Buren & Cow
Frank J. Waters
Wilon & Chardon
Also Mentioned on This Page
Finance Economics
Mille Building
Broad St
Europe
Pric
Stock Exchange
Great Britain
Canada
Baltimore
Boston
Philadelphia
Bank of Germany
Berlin
Imperial Bank of Germany
Cain and Bullion
Inc
Treasury
Tee
Dee
Dave
Cleveland
Richmond
Atlanta
Chicago
St. Louis
Minneapolis
Kane City
Dallas
San Francisco
Money and Credit
U.S. Steel
Total
Theatec Corporation
Steel Corporation
Alaba
News Digest
Liberty
Federal Reserve
Liberty Bond
the Liberty
Spencer Trask & Co
E. H. Rollins & Sons
Rhoades & Co
Knauth, Nachod & Kahne
A. A. Housman & Co
Harvey Fisk & Sons
Boole, Henry & Co
Langley & Co
Carl H. Pforcheimer & Co
Carolina & Yadkin River Railway Company
Alvin W. Krech
Samuel Armstrong
Pittsburgh
Youngstown
Ashtabula
Shattuck Arizona
Chile
New York, Chicago & St. Louis
Oyket
U. S. Treasury Finances
Active Securities
Federal Reserve Banks
U.S
Vovsente
Lapark
Agri
Eis
Close
Che
Crigpz
China
Col G&e
Erie
Goodrich
Granby M&s
wwaGt
Jooint Agri
Son
Miami
Hoom
Midvale
Womk &T
C&s
Nor Pac
Ohio Gas
T&t
Pitts
P & Wva
Paliman Tsty
Saxon M
L & SE
Studebuhr
Tenn C&c
Tex & Pac
Rit Texas Co
Te Third Ave
Tob Trad
TSL& Wet
Ny T&wm St
Undwa T
R&p
Utah
Werrane Teast
Wei
Ster
Asner Ean
York sToc
Ajax
GM Ste
A Ag
H&l
Va &L
HC & NW
I' A
Mort
Atlas Portland Cement
Borden's
Winchester
Rptg
Arms
Frederic H, Hatch
Ivale
Bestee
Soa Phueadiptie
America
Wales
Consolidated Stock Exchange of New York
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