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Newspaper
New York Tribune
Location
New York, New York, United States of America
Date
Jun 22, 1916
Page
24
Market traders faced a sharp downturn after an initial rise led by early buying in copper and industrials. Mexican copper weakness, bond activity, and anticipated new corporate issues influenced prices while autos, steel, and general industrial shares fluctuated, with some gains in the railway and debenture stocks late in the day.
A fragmented report shows H. B. Thorne joining a major company related to the Met team amid trust concerns and potential leadership shifts. Details are unclear, with several garbled names and roles, but the event appears tied to corporate plans and personnel changes at a prominent organization.
The New York Stock Exchange curb market reported total stock sales of 200 on Wednesday, with 376000 Tuesday and 560100 last week. From January 1 to date, 81200500, compared with 9047200 a year ago. Prices fluctuated with a late-day general dip as offerings remained light. Oil and gas shares hit new highs, Midvale advanced, Cuba Cane Sugar fell back, and White and Chevrolet showed early activity before easing.
The notice references Treasury Finances Tor Liverpool and a holiday on July 1 with related city operations affected. It mentions Liverpool on June 21 and notes a closure of Catton? offices on a forthcoming Saturday, with a plan to reopen after July 4.
The Consolidated Exchange weakened after an early dip. Kennecott Copper opened higher and closed at its peak for the day. Anaconda fluctuated around 81 percent, International Mercantile exchanged between 98 and 21 percent, and Mexican Petroleum moved to around 10 percent.
London reports Treasury fee of £38 100 000 for last week with £16 000 000 for Trearp billy and £17 000 000 for Ex chequer bonds. Stock Exchange shows quiet, steady turnover in war loans, common bonds, shipping and copper. Australian Commonwealth 5% loan underwritten at par. Bank of England buys £908 000 in gold. Money supply tight, rates steady. Exchange rates quoted. conclusive trading day noted.
London closing prices show United Fruit Co dividend details and telegraph and bank notices. The report lists stock figures, inactive stocks, and press notices including earnings dates and payment schedules for stockholders.
In weak market conditions RIL issued a strong showing as shares rose 24 percent closing at the day’s high. Bond prices advanced, debentures moved up to 8 percent, and the readjustment plan contemplates 10 million dollars for rehabilitation funded by a 10 percent stock assessment. Shareholders would receive new cumulative preferred stock, and debenture holders get 6 percent cumulative preferred stock. Rock Island’s receiver M. Dickinson met with creditors in New York, while underwriters eyed a small commission. An upcoming railroad reorganization was hinted, with legal questions tied to Missouri Public Service Commission rulings to be defended if needed.
Trade weekly notes quieter conditions but firm prices as export demand dominates. War forge contracts include 100,000 tons of iron and 10,000 12 inch shells with about 24,000 tons of steel. Foreign orders, especially from Japan, Britain and Asia, surge, potentially easing domestic iron flow. Ship plates remain active amid heavy international demand sustaining steel products across markets.
The notice details multiple financial meetings scheduled by local groups including VAERNOUS OAR and associations in the area. Attendees will hear reports, approve budgets, and discuss year end projections. The sessions aim to finalize approvals and set next steps for fundraising and expenditures.
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