Stocks Slide as Bonds Decline Amid Wide Market Lows
Active bond prices weaken while stock prices retreat in a broad market session. Reports show Florida and Pennsylvania railroad securities among the notable names with varied shifts. Foreign money remains a key driver as time money firms and Bank of England policy influence New York markets. Investors eye potential dividends from Norfolk and Western and Chesapeake & Ohio as speculation grows on future payouts.
MENTIONED IN THIS ARTICLE
Kcfs&m
Kan
Cc & Fay
Sile & Weer
Mouis & Nash
Grass Toy
Midh Central
Missouri Fac
Natmac
Steel Fury
NY Central
Ynycerl
Nynh&h
Inroée
North West
Northern Pac
Pacific Coast
Pacific Mail
Penn Railroad
Pitts Coal Co
Chic Gt West
Rock Island
CM & St P
Stl&sw
Col
Southern Pac
Southern Ry
Cfncsr
Tennc & Eret
Texas & Pac
Liv SR & Imp
Gen
Fiec Co
Tca&c
Wabash
Towa Central
West Ta Te
del & H
Sint-Met
Ches & O
Col Ind As
Urrofss
Baltimore & Ohio
Pennsylvania Company
Panhandle
Wall Street
Norfolk & Western
Pennsylvania Railroad
Pennsylvania
Chesapeake & Ohio
Stock Market Turmoil Reflects Southern Iron Pressure
Yesterday’s heavy stock market activity featured broad weakness in the afternoon led by United States Steel on bear pressure linked to exaggerated Southern iron price cutting. Analysts cite speculative campaigns to lower prices, while rail rate cuts in Kentucky and shifting money markets add to the bearish tone.
MENTIONED IN THIS ARTICLE
United States Steel Common
Stock Exchange
Wall Street
State Railroad Commissioners of
Kentucky
Louisville & Nashville
Illinois Central
Brooklyn Rapid Transit
Norfolk & Western
Pennsylvania
Reading
Colorado Fuel
Union Pacific
Sterling Exchange
United States
Western Railroads
Bank of England weekly reserve report shows gains
London June 21 The Bank of England weekly return records reserve up by 2 054 000 and bullion up 2 462 000. Circulation rises 321 000 and other securities grow 1 418 000 while public deposits increase 2 476 000. Notes in reserve total 2 042 600 government securities unchanged. Reserve ratio 49.04 percent vs 47.38 last week and 51 percent year ago. Discount rate reduced from 4 percent.
MENTIONED IN THIS ARTICLE
London
Bank of England
Money Market and Financial Rates Summary
Money on call opened at 7 percent with a high of 9 percent and a last loan of 2 percent. Time money quoted 4 to 5 percent for various maturities. Foreign exchange market closed easy with multiple rate figures and posted rates for bills. Domestic exchange notes city rates and bank clearings listed for New York, Boston, Chicago, Philadelphia and other cities. Sub Treasury credited to Clearing House at $532,069. Government receipts show daily, monthly, and year-to-date totals with a surplus of $15,275,927. Silver and gold markets reported latest price levels, with gold premiums in Madrid and Lisbon noted.
MENTIONED IN THIS ARTICLE
Paris
Pennsylvania Railroad
Sterling Exchange
Bank of England
New York
San Francisco
Pacific Coast
Federal Treasury
Sterling , Freres
Reichsmars
Guilders
Germany
France
Belgium
Switzerland
Holland
New Orleans
Telegraph
Boston
Chicago
Charleston
Cincinnati
Savannah
Minneapolis
St. Louis
Baltimore
Philadelphia
London
Madrid
Lisbon
Washington
Sub-Treasury
Clearing House
American Securities Abroad Market Rally
London on June 21 reported a strong market for American securities with last quotes showing robust buying. Prices edged higher as investors shifted into US equities, supported by favorable overseas sentiment and steady corporate indicators.
MENTIONED IN THIS ARTICLE
London
Wall Street and exchanges and bank dividends declared
Foreign trading in 2000 shares and London market gains are noted. Banks announce diverse dividends with July payment dates: Yorkville 6 percent semi annual. New Amsterdam 3 percent quarterly. Bank for Savings 4 percent semi annual. Finance Company of Pennsylvania 12 dollars quarterly. East River 3 percent semi annual. Garfield 3 percent quarterly. Detroit United My percent quarterly. Bowling Green Trust 10 percent semi annual on reduced capital of 1 million.
MENTIONED IN THIS ARTICLE
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
Bowling Green Trust Company
Dividend Declarations From Major Companies Across Industries
The article notes initial and regular dividends declared by multiple firms including New England Gas and Coke, De Long Hook and Eye, Massachusetts Gas, Pittsburg Plate, Procter & Gamble, ton and Worcester Electric, Fulton Trust, Seaboard Nation, United Fruit, Bell Telephone Philadelphia, Louisville & Nashville, and others. It mentions bondlike notices, the Hocking Valley refinancing, Canadian Pacific rolling stock expansion, gold import points, and St Paul’s plans, with specifics on payment dates, record dates, and percentage yields where provided.
MENTIONED IN THIS ARTICLE
Tors
New England Gas and Coke
de Long Hook and Eye Company
der Long
Recong
Sean
Massachusetts Gasa
Pittsburg Plate Company
Terry
Procter & Gambles
Ton and Worcester Electric Company
Fulton Trust Company
Seaboard
United Fruit Company
Bell Telephone Company
Priphia
Louisville & Nashville
Hocking Valley
J. P. Morgan & Co
Baltimore & Ohio
Panhandle
Chesapeake & Ohio
Laky Shore
Erie
Canadian Pacific
West Setakae
Winnipeg
Medicine Hat
Rockies
Prairies
Treasury
Lazard Freres
London
ST. Paul's
Chicago, Milwaukee & St. Paul Railway Company
St. Paul
Cree Lyonnais
Paris
CurB Market Trading Shows Dull Early Session
Ely market for outside securities shows little activity then gains some midday animation at lower values. Activity centers in mining stocks with United Copper weak after a rise, American Can weak on liquidation, Cripple Creek Central up five points, Lehigh Valley steady, Marine issues quiet, Boston Copper softening, Nevada Dam steady with fractional changes elsewhere.
MENTIONED IN THIS ARTICLE
Ely
Pele
Interat
United Copper
Mackay
Otis Elevator
Cripple Creek Central Railway
Lehigh Valley
Boston Copper
Nevada
Also Mentioned on This Page
Bankers and Brokers
Hallgarten & Co. Bankers
Nassau Street
N. W. Halsey & CO
Wall ST
Redmond Aco
Pine St
C.H. Venner & Co., Bankers
Northwestern
Schmidt & Gallatin
Broadway
Pfaelzer & CO
Edow-Jones’ Bulletins
First National Bank
McCumber
North Dakota
F. ©. Wood
Chambers St
Board of Trustees
Thomas M. Mulry
John J. Pulleyn
Manhattan
Inter
Joseph Bird
Frank G. Stiles
Constant M. Bird
Bowery Savings Bank
Bowery New York
Juy Nest
Ivy
William
Wood
Henry Aschenck
Walter Ocoggusehall
Irving Savings Institution
Chembers
New York City
Secretar
Bank For Savings
City OF
Fourth Avenue
Roa of Trustees
William W Smith
Charles A. Sherman
Ss. Comptrolier
Yundey Company
Sto Holter
American Car & Foundry Company
Star
Eni6 Company
Wash& N Street
Jersey City
New Jersey
RSDAY
OCICK
B. A Biasy
Lil Bono
Do Ist Inc
Mo K & T
Pac Trust
At&sf
Nyc
Nort & W
Nor Pac
Ga 1St Inc
Penn
San
Hee Do
Iowa
Rys
L & Ss
Lé& P
South Ry
Sayley Erie
West Shore
Wilkes & F.ist
Nid
Bf Id
Pamanbig
el Nz
Bank OF England Return
Asia
AL Sane
Joe Lie
Si's
Ame
Amer Express
St .Sal
Amer
Am Hide & L
Amer Sone
Gary
Amer Smelting
Am Tel & Cable
jAm Tel & Tel
Armer Woollen
Ann Arbor
Asas
Atchison Wee
Atl Coast Line
LDS
Balt
Ohio
Brunswick
Buff
Butterick Co
Canada South
Central of
Ches & Ohio
Chicago & Alton
Chstpmé&O
Beatie
Cleo Pitts
Hudson
Del
del Lack & Cat
Denv & Rio Gr
Des M & Ft D
Det United R Rgut
Dist Securities
BOE
Sita
Bey
Eastman Kota
Evans & TH
M & Law
W &D
Cog Gen Chemical
Northern F
Havana
Iowa Central
Kana & Mich
Kan City South
KCFS
jKeok
Des
Cial
Laclede Gas
Ile
LE & Western
Low Island
Louis & Nash
Las
Manhat Es -Ach
Michigan
Minn & St L
Mo Kan & Tex
Missouri Pacific
Morris & Essex
Nat Enam Rail
St iv
Lew
Central
Ny&nj
Tel
NYN
H & H. Bee
Norfolk
North Lo
Orthern
Ontario
Pacific
Penn RR
Peoria & E
Pea Gas
Pittsburg
Amy
Rens & Sara
Do M
Tenn Coal & Trina Ne
Texas & Pacific
Do Land Trust
Wwe RR Swat
Tol Peo & West
Tol Ry & Light
Twin City Tr
Union Bag
Ry Invest
Ry & Imp
Tay SI
Vandalia Ry R
Aioe
Iron C & C
Maryland
Ameniaes
Fargo
Union
Westingh
Wisconsin
Consolidated Exchange Sales
Sharea
Allis-Chalmers
Amer Car
Hide & L Pet
F.wa Pere
Lil
Brooklyn RT
the Cent
Dale
Chie Gt West Lids
Mil & Stae
Cotel & Iron
Neeecsee
Denver & Pro G
Ay S
Touts & Nash
Norfolk & West
R Island
Southern Pacific
Texas Pacific
Union_ Pacific
T S Steel
Uae
Ing. Cale
Cal & m
Crown Point Cena
Hale & Norcross
Jim Butler
Wees
Lone Star
Reed Iz
Ophir Wee
Orig Buller
Bush
Money and Exchange
American Securities Abroad
N. Y
Atchison Do
Balt & Ohio
1Sthea & Ohta Gly
M_& St
den & Rio Gr
S&s
ST Erie
Eeetetecvene
Isi'a
K & Tex
Lal's
Nor & West
Mt & West
Ty Southern
Union Pacific Wits
US Steel
St Wabash My
Rroreign Money Market
Ad Rmoney
Berlin
Berlin Exchange
Paris Exchange
Tis
Wall Street and Exchanges
NEW Stock Exchange
George R. Leslie
Mayer & Co
G. Winthrop Sands
New York Stock Exchange
Fort Wayne
New York Produce Exchange
Alabama
Curb Market Trading
Industrial
ing _— son Amert
American Nickels
American Tobacco
Bay State
Beth Steel Corp
Munhae Tranatt
Sutnee
Engnenaes Railroad
Enum
Ince
NH & H
Gseller
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