Stocks Slip as Bonds Lead Market Close
Closing prices show bonds trading lower with widespread declines among rails and industrials. Major names such as Pennsylvania, Norfolk & Western, Baltimore & Ohio, and Reading reported shifts, while speculation on foreign loans and improved European capital availability influenced the session.
MENTIONED IN THIS ARTICLE
Allis-Chal Co
Kan City
Amica Fars
Goiton Oi
Bouise& Nashied
Grass T
Mexican Central
Mexican Central 224 — | Am Mheulpf
Midh Central
Ice Secur
Amra
At&sf Northern
Pacific Coast
Coast Line
Pacific Mail
Ss - Bax & Ohio
Penn Railroad
Coa! Co
Akion Rap Tr
Cent Leather
Union
Sloss-Sheffey
Sloss-Sheffey —2 Col Fuel & 3
Southern Pac
Col South
Southern Ryan
Consol
Tenn Get
Texas & Pac
Rco
Go Land Trust
Dssea
Union Pacis
Jfevest
SR & Im Gen Flec Co
ViVal
C&c
Inter Parner
Vulcan
Wabash
Jowa Central
West En Tel
NS — S&s
Nor Pac
Penn Cony
Urrof
U & Steel
Stock Market Turbulence Sways Prices Amid Bear Pressure
Heavy volume in yesterday's trading saw major declines in the afternoon led by United States Steel amid speculative selling tied to Southern iron price pledges. Bear activity pressed several issues while calls for lower stock prices persisted despite easier call money and softer sterling. The report notes ongoing optimism over dividends and a possible late summer market reaction, with railroads seeking new capital and weather and harvest conditions influencing commodities.
MENTIONED IN THIS ARTICLE
United States Steel Common
Stock Exchange
Wall Street
State Railroad Commissioners of
Kentucky
Louisville & Nashville
Ilinois Central
Brooklyn Rapid Transit
Norfolk & Western
Pennsylvania
Reading
Colorado Fuel
Union Pacific
Sterling Exchange
United States
Western Railroads
Bank of England weekly return shows mixed reserve changes
London reports a rise in total reserve by 2 054 000 and bullion by 2 462 3 thousand, with circulation up 521, notes in reserve up 12 042 000, but public deposits up 24 760 and other deposits down 8 009. Government securities unchanged. Reserve ratio 49.04 percent, discount rate cut from 4 to Mg percent.
MENTIONED IN THIS ARTICLE
London
Bank of England
Money Market and Exchange Rates Snapshot
Money on call opened at 7 percent with brief highs and lows near 2 percent. Time money quoted from 4.5 to 5.25 percent across thirty to seven months. Commercial paper shown for sixty to ninety days and up to four to six months. Foreign exchange market closed easy with various domestic and international rate listings. Bank clearings reported for major cities. Silver and gold prices noted with domestic and London benchmarks. Government receipts and Sub-Treasury balances summarized.
MENTIONED IN THIS ARTICLE
C-C
Germany
Reichsma
France
Belgium
Switzerland
Holland
New Orleans
San Francisco
Telegraph
Boston
Chicago
Charleston
Cincinnati
Savannah
Minneapolis
St. Louis
New York
Baltimore
Philadelphia
London
Madrid
Lisbon
Washington
Sub-Treasury
Clearing House
American Securities Abroad Market Strong in London
London report at 4 p m June 21 notes a strong market for American securities with last quotations indicating firm demand and active trading across U S issues.
MENTIONED IN THIS ARTICLE
American Securities Abroad
London
Wall Street and Exchanges and Dividend Declarations
Foreign trading was light with mainly purchases in 0 shares. London consols rose as markets improved amid a discount rate cut to 3.2 percent. Banks announced several dividends: Yorkville 6 percent semiannual, New Amsterdam 3 percent quarterly, Bank for Savings of New York 4 percent semiannual, Finance Company of Pennsylvania 125 dollars quarterly preferred, East River National 3 percent semiannual, Garfield National 3 percent quarterly, Detroit United 1 percent quarterly, Howling Green Trust 10 percent semiannual on reduced capital 1,000,000 dollars.
MENTIONED IN THIS ARTICLE
Baltimore & Ohio
Pennsylvania Company
Panhandle
Wall Street
Norfolk & Western
Pennsylvania Railroad
Pennsylvania
Chesapeake & Ohio
London
Bank of England
Yorkville Bank
New Amsterdam National Bank
Bank For Savings of New York
Finance Company of Pennsylvania
East River National Bank
Garfield National Bank
Detroit United
Howling Green Trust Company
Dividend Declarations and Financial Notes Across Firms
Various corporations announce regular and initial dividends including New England Gas and Coal, De Long Hook and Eye, Massachusetts Gas, Pittsburg Plate, Procter & Gamble, Ton and Worcester Electric, Fulton Trust, Seaboard National, United Fruit, Louisville and Nashville, Bell Telephone Philadelphia, and related notes on Hocking Valley, Canadian Pacific expansions, gold import points, St Paul plans, price current crops, New York Stock Exchange listings, San Francisco transfers, and pig iron certificates. The mix covers dividend payments, rail and stock movements, and freight capacity projections.
MENTIONED IN THIS ARTICLE
Amer
Amer Express
Hide & L. Eeeee Ae
Amer Smelting
Saan
Iin
Wii
Am Steel Lea
Armer Woollen
Atchison O
Oast
Amer Pneu
Boston
Lee
Brunswick
Bur R & Pi
Butterick Co
Canada South
Chic
Col & C & Il
Consol
del & Hudson
del Lack & W
Denv & Rio Gr
S&ty Bsa
Des M & Ft
Det United R Rjcoe
Dist Securities
S & At
Eastman Kostalions
Erie
Evans & T H
Eay SQ
General Electric
Juez
Gt Northern
Havana
Hocking Valle
Llinois Central
Shy Tis Abies
E.ee
Ty Wolint
Iowa Central
Kana & Mich
Kan
Kcfs & M
Keok & Des M
Fey
Laclede Gas
LE & Western
B& Jo
Long Island
Leo Suds
Nashwhs
Lau
Ritahi Manhat Beach
Manhattan el
MD Ca
Michigan
Minn & St L
Mo Kan &Tex
Missouri Pacific
Morris & Essex
Nash & Chat
Nat Biscuit
Nat Enam & St
Tate
Ny&nj
Nynh&h
Norfolk & West
Northern Pacific
Ontario
Pacific Coast
Penn RR
Peoria
East
Pee Gas & Coke
Pittsburg
Chiena Inapig
Pulliman
Quicksilver
R Securities
Stl
Spring
Hay
Rock Island
Rome
Rutland
Sciathean Pacific
Cis
Jae Uy Boy
Texas
Wwe
Lee Hy
Varvlalia
West Maryland
Wabash
Wells Fars
West Union Tel
Westingh Mrs.Wits
Wheel & L E
Wisconsin
New England Gas and
Cole Ate
de Long Hook and Eye Company
Recond Juge
Massachusetts Gasa
Pittsburg Plate Company
Procter & Gamble
Ton and Worcester Electric Company
Fulton Trust Company
Seaboard National Te
United Fruit Company
Bell Telephone Company
Pitan
Phia
Loulavile & Nashville
Hocking Valley
J. P. Mo
Uoktegac
Baltimore & Onto
Baltimore & Ohio
Panhandle
Chesapeake & Ohio
Shore
Canadian Pacific
Rockies
Prairies
Treasury
Lazard Freres
London
ST. Paul's
Chicag, Milwaukee & St. Paul Railway Company
St. Paul
Cram Lyonnais
Paris
Curbs Market Trading Sees Mixed Early Session Activity
The curb market showed little early activity with a steady tone. By midday slight improvement appeared but overall values fell fractionally across the list with notable moves in United Copper, American Can, Mackay, Otis Elevators, Cripple Creek Central Railway, Lehigh Valley, Nevada, and Greene while Marine issues remained steady and tobacco traded quietly.
MENTIONED IN THIS ARTICLE
Peice
Miting
United Copper
Mackay
Otis Elevators
Cripple Creek Central Railway
Lehigh Valley
Frm
Boston Copper
Also Mentioned on This Page
Bankers and Brokers
Hallgarten & Co. Bankers
Nassau Street
N. Halsey & CO
Wall ST
Pine St
C. H. Venner & CO
Bankers
Northwestern
Schmidt & Gallatin
Broadway
Pfaelzer & 60
Edow-Jones’ Bulletins
First National Bank
McCumber
North Dakota
Ghapaioee Uecker Wetiied
Chambers St
Board of Trustees
Thomas M. Mulry
John J. Pulleyn
Manhattan
inter@st
Joseph Bird
Frank G. Stiles
Constant M. Bird
Bowery Savings Bank
Bowery New York
Jay Nest
Jay
William F. &. Wood
Menry A Schenck
Walter Ocoggienall
Irving Savings Institution
Chambers Mt
New York City
Trusteae Des
Bank For Savings
City OF
Fourth Avenue
Ulytet
Leta
William W Smith
Chak A. Sherman
James Knoles
Yundeyt Company
STO Okin
American Car & Foundry Company
Enié Company
Wash
NS Street
Jersey City
New Jersey
D. A Bias
Federal Treasury
Nw Adams
Lodo Do Ist Inc
Tobacco
Pac Trust
Bonssaens Seevesss
doLeé
Andy Ceeeseeresses
Nort & W
Ga Ist Inc
Solla
M&o
Penn CT
FéeRe West Shore
Wilkes
BONDI
Pry
Bank OF England Return
Consolidated Exchange Sales
His-Chalmers
Mog
Hide & Speed
Amer Woolle
Brooklyn RT
Mil & St P
Denver & Pio
Dice Securities
Ertecates
Tauls & Nash
LO Rep Steel
Ry Ag
Uaten Pacific Steel
Oetis
Wabash En
Open- Tate
Eee
Ania
Bull Frog
Bullien Caneeeneeee
Comstock
Cal & Va
Chrysoilte
BO Crown Point
Hale & Norcross
Jim Butler
Lone Star
Ian F Low
Money and Exchange
Sterling Ee
Reichsmarw
Tees
N. Y
Atchison
Mt & West
South Pac
Union Pacific Mis
Kies
Reign Money Market
Berlin
Berlin Exchange
Paris Exchange
Tis Md
Wall Street and Exchanges
NEW Stock Exchange
George R. Leslie
Mayer & C O
G. Winthrop Sandy
New York Mock Exchange
Fort Wayne
New York Stock Exchange
New York Produce Exchange
Alabama Foundry
Alabama
Curb Market Trading
Industrial
Bay State Gas
Coe Beth Steel Corp
Tobac Ts
Mackay Coe Te
Manhat Transit
Guew
Lebigiie Valley
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