Financial markets stir as railroads and steel move gains
Movements in chief active stocks show revival in activity with railroads and steel sectors leading. Last week’s trading highlights include notable gains in railroad earnings and related industrial shares as investors reassess demand and dividends amid broader market shifts.
Week In Wall Street Sees Market Rally On Crops And Railroads
Last week opened weak due to bank statement doubts and wary about the upcoming crop report. The May export rise and railway consolidation rumors boosted sentiment, with exporters and railroads showing strong results, while caution on future profits suggests lean years ahead. Bank reserves and loans shifted slightly, yet the market kept a stabilizing tone amid optimistic crop prospects and ongoing consolidation talks.
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Chicago, Milwaukee and
St. Paul
trans-Mississippi
Union Pacific
Railway Securities Company
Chicago and Northwestern
Northwest
Northern Pacific
Great Northern
Burlington
Missouri Pacific
London
Bank of England
Exchange and sales recorded at New York market
Clearing House exchanges and stock sales at the New York Stock Exchange compare last week with the same period in the prior two years. Figures show large totals in deposits and shares traded with mixed performance across dates June 15 to June 17 and related years.
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Ferbenses
ESTE
London Brokers Hesitate Amid Flat Week in Stock Market
London trading remained dull as the London Stock Exchange absorbed the American crisis and South African war anxieties. Traders waited for concrete developments while gilt edged securities fell and banks faced pressure. Optimists noted New York’s foreign investments and Europe’s exchange edge, though grain, crops, and harvests clouded sentiment. A Reuters note about a censored inquiry in South Africa added to the cautious mood.
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London
London Stock Exchange
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The
Stock Exchange
Home Rails
Europe
Manchester Cloth Market Steady Inquiry Amid Unsatisfactory Turnover
In Manchester on June 16 buyers showed steady inquiry for cloth though turnover was unsatisfactory and price advances were often required. Bombay led India sales with Calcutta demand. China saw slight gains in shirtings. Levant buyers picked up finishing cloths while South American purchases were moderate and yarn spinners remained firmer. Buyers limited purchases to immediate needs.
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Rio Grande Western 4 per cent bonds offered for subscription
Kuhn, Loeb & Co and Spencer, Trask & Co announce subscriptions for first consolidated Mortgage 4 per cent fifty year gold bonds of the Rio Grande Western Railway Company at 96 and accrued interest. The issue totals 3,600,000 with much already placed. books open June 28 and close by 3 pm the same day. payments due by July 10.
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Kuhn, Loeb & Co
Spencer, Trask & Co
Rio Grande Western Railway Company
Railroads Report May and June Earnings Across 60 Systems
The Tribune lists gross earnings for sixty railroads in May and June. Fourth week May shows 49 gains totaling 1 563 572 and 11 losses of 90 555, overall gain 1 472 914. First week June reports 48 gains of 723 609 and 11 losses of 29 416 for a total gain of 694 193. Data includes major lines such as Grand Trunk, Kansas City Missouri, Louisville and Nashville, Santa Fe Prescott and Phoenix, and others with miles and period totals.
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the Tribune
F. c
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Pittsburg
Western
Santa FE
Prescott
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Texas Central
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Ieee
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Ranste
Bond subscription notice for gold coin bonds 1961
Principal and interest payable in Gold Coin of the present standard free of all taxes. Coupon Bonds in denomination of 1000 each with registration. Registered certificates in denomination 1909 or multiples. Series subject to redemption on six months notice. Subscriptions for the balance at 96 and accrued interest to delivery date. bonds net 4.19 percent. Subscriptions open at 10 AM Tuesday June 23 1961 and close 3 PM same day. Right to reject any applications. Funds awarded on subscriptions to be paid by July 10, 1901.
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