Wall Street sees cautious tone as six per cent call money cools trading
Mills Building report notes 6 per cent call money restrained speculation and reduced Stock Exchange volume. Prices fell across most groups with few gainers as investors shift from traders, while tax changes and ship steel deals weigh on industrials. Prospects look for higher money rates but gold imports from Canada may bolster lending power. government steel plate contracts spark questions on pricing.
MENTIONED IN THIS ARTICLE
Stock Exchange
Washington
Wall Street
Money Rates Firm. Gold Arrives to Stiffen Market
Money and credit markets showed firmer tone on resumption of business. Banks called loans while others offered funds. arrival of 22,000,000 in gold from Canada and 100,000,000 shipments expected aid liquidity. Time funds stood still. rates 5 1/4 to 6 1/2 percent for collateral loans. Exchange rates were steady with mixed domestic and foreign movements. gold imports supported the market.
MENTIONED IN THIS ARTICLE
Stock Exchange
Joans
Canada
Gold Imports Lift U S Money Market Amid Rate Rise
International bankers moved to ease the local money market as U S call money rates neared 9 percent. A shipment of about 100 million dollars in gold from Canada, arranged by J P Morgan, tied over to the Federal Reserve Bank of New York and placed in vaults. Total annual gold imports now stand at 44 million and 60 dollars, with 1.642 billion since February 1, 1915.
MENTIONED IN THIS ARTICLE
Yestern
United States
Bank of England
Ottawa
Canada
Tilin
J. P. Morgan , Co
Watt Street
Carl
Lord Cunliffe! Wernor
Balfour Commissaoon
New York
Hank
Great Britain
England
Ting
New York Stock Exchange
United States Steel
Finden
Aires
Wall Street
Britain Starts Gold Shipments to Support Sterling
Britain ships gold to the United States to supplement massive credits from the American government aimed at stabilizing the sterling exchange market. The move follows heavy weekly sales of sterling bills. Ottawa holds Britain’s large gold reserves used as a world clearing center since the war began, with over a billion dollars passing through its depository in two years for English French and Russian accounts, plus steady arrivals of gold from South Africa and Australia.
MENTIONED IN THIS ARTICLE
Great Britain
Ottawa
South Africa
Australia
Loan Tabulation Not Ended Amid Big Liberty Loan Totals
Washington reports the Liberty Loan totals remain provisional with only four districts Philadelphia Cleveland Chicago and St Louis submitting official tabulations not disclosed. Atlanta's final tally awaited. Clerks at the Treasury continue compiling subscriptions sent to Washington and to be allocated among Reserve banks. Officials seek final figures and bond nominations promptly to begin allotment without delay.
MENTIONED IN THIS ARTICLE
Boston
New York
Sseaves
Philadelphia
Cleveland
Aig
Richmond
Atlanta
Chicago
St Louis
Minneapolis
Kansas City
Dallas
San Francisco
Ale Aly Ag
Baltimore
Hoston
Washington
St. Louis
Treasury
The
Liberty Loan subscriptions top $15 million for Scouts drive
The Boy Scouts of America report $15,214,850 raised in the Liberty Loan drive across 124 cities and towns. Guaranty Trust Company subscribers led with 42,935 subscriptions totaling $76,170,950, while many others used the partial payment plan. The Treasury releases daily figures as the New York district total exceeds prior national totals.
MENTIONED IN THIS ARTICLE
Liberty Loan
New York
Scretary
Treasury
McAdow
Boy Scouts of America
Fifth Avenue
Guaranty Trust Company
Fundant Sy
National Bank Reserve and Crop Data Compiled
The report lists totals for signficant relations loans across all national banks and the total reserves including cash vaults and Federal Reserve deposits. It notes the discounts of Federal Reserve banks and their note liabilities, alongside gold reserves against deposits and circulation and crop production figures for Wheat Corn and Cotton with monthly values and percentages. District figures show various monetary and agricultural metrics including reserve percentages and debt indicators.
MENTIONED IN THIS ARTICLE
Cere
Federal Reserve
Federal Reserve Banks
Federal Reserve Amends Act Strengthen Banking System
Washington June 18 Amendments to the Federal Reserve act aim to concentrate gold reserves in Federal Reserve banks and open the system to state banks and trust companies. The Senate accepted the conference report, shifting over 100 million dollars in reserves to the Fed and ordering immediate diversion, with many outside institutions expected to join.
MENTIONED IN THIS ARTICLE
Washington
Federal Reserve Act
Federal Reserve
Federal Reserve System
Senate
House
Federal Reserve Banks
Federal Reserve Bank
Offcinin
Wyxte Hiive
Baltimore
Louisville
Dover
Coal Mines Face Manpower Strain in Wilkes-Barre Area
The report warns that drastic curtailment of miners for trench duty could cripple the anthracite region’s output as shortages of floor and high wage demands keep many workers away. Efforts to boost production and improve railroad coal traffic show improvement, but mine crews remain several thousand short. Transportation services are improving versus two months ago though not yet normal. Miners’ Bank of Wilkes-Barre.
MENTIONED IN THIS ARTICLE
Wilkes+Burre
Willie Barre
Miners’ Bank of
Wilkes-Barre
D H dividend injunction denied by New York court
Samuel Halperin, stockholder of Delaware & Hudson, sought to bar a 2 percent quarterly dividend. Justice Tierney denied the injunction, noting the line of assets and liabilities and the 1916 net income of 4,158,372 yielding 9.78 percent.
MENTIONED IN THIS ARTICLE
Samuel Halperin
Delaware & Hudson Company
Justice Tierney
New York Supreme Court
Ialperin
Tierney
American Cities Dividend Passed and Copper Output Reports
Directors in New Orleans and Pittsburgh approved a semi annual dividend of 11 percent and a 2 percent dividend on preferred stock, while Granby Consolidated Mining reported May copper output of 16,188 pounds, with quarterly production figures. Pennsylvania Engineering declared a 190,000 stock dividend for July 1, and Standard Screw plans a permanent quarterly dividend at 6 percent on common stock. Manama Company ordered back dividends totaling 7.5 percent on first preferred stock dating from July 1914 to July 1917.
MENTIONED IN THIS ARTICLE
Orleans
Lee Benoist
Directore
Granby
Granby Consolidated Mining, Smelting and Power Companyh Om
Crucible Steel Company
Pittsburgh
Wall Street
Pennsylvania Engineering Company
New Castle
Penn
Treasury
Manama Company
Alabama
Global Markets Show Sluggish Start Amid Quiet Trading
London and Paris report quiet reopenings with investors cautious as old war loans and munition shares show activity while most securities mark time. In New York the Federal Sugar Refining meeting is postponed amid questions about management as Greene Cananea Copper reelects directors and appoints a new one to fill a vacancy.
MENTIONED IN THIS ARTICLE
London
Grand Trunk Railway Dividends and Deficits Report
Financial notes show Grand Trunk Railway and Grand Trunk Western totaling deficits and surpluses, with dividends declared on several lines. Kansas City Fort Scott Memphis Railroad and Telegraph firms announce quarterly 1 percent preferred stock dividends payable mid July, with due dates and stock records noted. Northern States Power Company reports a regular 1.5 percent quarterly dividend on preferred stock payable July.
MENTIONED IN THIS ARTICLE
Kansas City
Fort Scott
Old & Stork Telegraph Company
Ier
Ine
Northern States Power Companys Resi Tay
Also Mentioned on This Page
Remick, Hodges & Co
Wall St., New York
R. L. Day & Co
William P. Benbright & Co
Nassau & Cedar Streets
William P. Beadelgt & Co
Beobriatt & Fo
Pepin
AlBickmore
Broadway
Mergia
W.E. Z
Hutton&co
Eistom
Sica, Sul' Fen Seier
Columbia Gas
Henry Clews & Co
Rom Conservatve
Financial Graphic
Coggeshall & Hicks Hock Fx
Palace
Noble & Corwin
New Tek
Liberly
Finance Economics
Mills Building
Broad St
Britain
Gertain
Hanover
Tan
Sterling
Money and Credit
Hoxton
Itawa
Dp. Morgan & Co
Spain
Neai Stables
Stockholm
Copenhagen
United
Denmark
Thins Ic
Boy Scouts of Nation
U. S. Treasury Finances
United States Treasury
Toam
Ayersen
Hreyrase Vom
Hon Hirae
Federal Reserve Board
Net
News Digest
Paris
Federal Sugar Refining Meeting
Federal Sugar Refining Company
J. Horace Hardin
Clarence H. Mack
Harding
M Wall Street
Mackay
Greene Cananea Copper Company
L. D. Ricketts
Chester A. Congdon
Corporation
Grand Trunk Railway 1
Eros
Grand Trunk Western
Gros
Surphie Detroit
Grand Haven & Mulpacker
Chenge
He Svp
West Vergisen Y Fichiv Company
Xm 9
Termes Thotco i Pe
Metropolitan Savings Ban
Ane Hare Lee Divine
Bank For Savings
Inpany
Ational
International Trae
Can
Trae
Dominién
Niente
Can Japan
Betuthorte
Innite
Selition Bomaht
Hartshorne & Battelle
Onan
Broad Street
John Muir &Po
Oad Lows Y
Oat Menadwns, Se
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