Wall Street Optimism Cushions Markets Despite War Strains
Financial observers note stock gains in recent days while government demand for major commodities, especially steel and copper, looms. Analysts estimate steel output for war needs at about 40 percent with potential earnings revisions for steel companies. Banking funds face pressure from Liberty Loan payments and record disbursements, as wholesale prices rise and production costs climb amid labor shortages and transportation delays.
MENTIONED IN THIS ARTICLE
Wall Street
Financial District
Washington
Steel Corporation
Canada
Federal Reserve Mane of
New York
Great Britain Considers Rationing Cotton Supplies
London reports a conference between the Board of Trade and cotton industry officials yielded no official result today. A meeting adjourned to Wednesday may outline price limits and a possible government plan to regulate cotton imports and distribution amid ongoing wartime shortages and financial upheaval.
MENTIONED IN THIS ARTICLE
Great Britain
London
Board of Trade
Catton Exchange
New
Kansas City
Dallas
San Francisco
Ave Ave
Dollar in Foreign Exchange Closes Lower Amid Market Shifts
The dollar weakened against several currencies with the rate dropping to 7.42 per dollar, from 7.81. The franc recovered to 5.78, the Swiss franc rose to 4.80 per dollar, and Russian rubles remained steady. American bankers halted dealings in German and Austrian exchange, leaving no daily quotes for marks or Kronen.
MENTIONED IN THIS ARTICLE
United States
Italy
lEcreange
Switzerland
Money and Credit Market Holds Steady Amid Rates
Local money market showed little change with banks restricting offerings. The Stock Exchange saw most normal money business at 6 percent, with some clerical work at 7 percent. Renewals were active and time money rates remained steady. Loans backed by railway and industrial collateral ranged 5 1/2 to 6 percent for all maturities, with substantial business in industrial collateral loans clustered around 5 to 5 1/2 percent. The approach of midyear swelled concerns about rates.
MENTIONED IN THIS ARTICLE
Stork Exchange
Ciil
Dollar versus pound demand drives currency values
The text explains that a dollar buys about a half-ounce of English money due to differing demand for dollars to settle U S accounts and pounds to settle English accounts. It notes intrinsic purity per pound and uses figures like 4.75 dollars per pound to illustrate the exchange.
MENTIONED IN THIS ARTICLE
Stockholm
Eh'ks
Copenharen
United Maton
Sweden
England
Old U S Government Bonds Hit Several Record Lows
Quotations for outstanding United States government bonds were set at the stock exchange yesterday at the lowest levels in years. Registered and coupons of 1841 showed 83 bid down 2 points, 1981 bonds 82 bid down 2 points, and 4% bonds of 1% at 81 bid down 1 point. Transactions occurred amid a generally declining Liberty bond market with moderate activity and a turnover around 4000.
MENTIONED IN THIS ARTICLE
U. S
United States
Stock Exchange
General Gas and Electric Faces Dividend Delay in Car Shortage
General Gas and Electric reports a per cent cumulative preferred stockholders vote a week before the regular meeting due to an extraordinary car shortage delaying dividends. The firm operates plants in Ohio New York Pennsylvania New Jersey and Vermont and says a dividend may be paid if sufficient cars and deliveries are secured. The company notes its own coal mine and expects government action to aid the supply situation.
MENTIONED IN THIS ARTICLE
General Gas & — Electric
Ohio
York
Pennsylvania
New Jersey
Vermont
Mortgage Company Reduces Dividend
At a board meeting of Lawyers' Mortgage Company a dividend of 2 percent on the capital stock for the quarter ending June 30 was declared, down from 3 percent in the prior quarter. An officer attributed the cut to losses from foreclosed real estate sales, noting that gross and net earnings for the first six months remained strong but surplus was strained.
MENTIONED IN THIS ARTICLE
Lawyers’ Mortgage Company
Tonopah Mining Company
Great Lakes Steamship Company
Osceola Consolidated Mining Company
Stork
Bt. Mary's Mineral Land
Building Boom in Cuba Signals Demand for U S Materials
The Cuban boom includes new sugar mills, railways, port improvements, and hotel construction plans. A Commerce Bureau survey led by Special Agent W W Ewing notes expanded wharf capacity, warehouse space, and tourist traffic demand, positioning the United States to supply construction materials and machinery for widespread development.
MENTIONED IN THIS ARTICLE
Cuba
W. W. Ewing
Bureau of Foreign and Domestic Commerce
Department of Commerce
United States
Ewing Cape
Canadians Buy Control of the Merchants National Bank
Canadian capitalists took control of the Merchants National Bank of New York via the Royal Bank of Canada, handling 20,000 shares worth about 143 dollars each. The Coffin syndicate installed a twelve member advisory board and plans to add several Canadian directors, aiming to broaden Canadian securities access and direct business with a bank they now control.
MENTIONED IN THIS ARTICLE
National Bank of New York
Royal Bank of Canada
George Coffin Warner
Robert M. Galloway
Wall Street
Merchants’ National
Theodore H. Burton
United States
Ohio
George C. van Tuyl, Jr
Metropolitan Trust Company
Joseph W. Harriman
Dean Sage
Zabriskie, Murray, Sage & Kerr
Anthony R. Ku
Newark
Frank G. Crowell
Hall-Baker Grain Company
Kansas City
Waldo Newcomer
National Exchange Bank of
Baltimore
Coffin
Count von Nernstorff
Germany
New York
Merchants’ National Bank
Alexander Hamilton
Money Is Needed by Canada to Finance Orders for Munitions
Canada needs U S financing privileges to sustain orders for munitions to the Allied armies in Europe. The piece discusses the US opportunity to gain Canadian goodwill by easing credit access, notes Canada's heavy war spending, and highlights reliance on London markets, Canadian banks, and Imperial Munitions Board funding.
MENTIONED IN THIS ARTICLE
Thomas White
New York
Canada
United States
Trunk
Grand Trunk Pacific
Canadian Northern
Drayton Acworth
Dominion
Canadian Pacific Railway
Imperial Munitions Board
Republic
America
S. Roy Weaver
Soronto
Europe
Imperia
Atlantic
Canada i
London
Argentine Bank Represented in the United States
June 22. The town designated a board to serve as its representation United States. Argentine Republic, tonal Bank of Arien tal Ite in the Buenos Ayre.
MENTIONED IN THIS ARTICLE
Argentine Republic
Tonal Bank of Ariental Itee
Buenos Ayre
Tiwn
Representati
United States
Treasury finances show mixed fiscal figures this year
The U S Treasury report notes a net general balance near 234 million and total receipts around 3.7 billion with substantial federal payments. The year ends with a 74 million surplus designated for the National Bank, while a large deficit is noted in another capacity. currency and debt details mirror a complex fiscal picture.
MENTIONED IN THIS ARTICLE
Washington
United States Treasury
Arhamaen
York Federal
Rowe Nk Prokalty
Ars
Arguntina
Capacty Gaikon
Panama Canal
Bank Eneland
United States
Gorman Chosen New President of Rock Island
James KE Gorman, previously CEO for the receiver of Chicago Rock Island Pacific, was elected president and a director of the reorganized Rock Island road. W B Thompson resigned. E K Boisot named to replace J S Alexander. Directors plan to take over the property at midnight Sunday, issue preferred stock under the reorganization plan approved by Iowa and Illinois railroad commissions.
MENTIONED IN THIS ARTICLE
James KE. Gorman
Chicago, Rock Island & Pacific
W. B. Thompson
E. K Boisot
Chicago
J. S. Alexander
National Bank of Commerce of New York
Towa
Illinois
Road's Earnings Show Big Increase for 1916
The Chicago Rock Island & Pacific Railway reported for the year ended December 11, 1916 total operating revenue of 80.88 million dollars, up 9.68 million from the prior year, with operating expenses at 55.09 million, up 1.48 million. Net operating revenue reached 25.80 million, up 5.11 million. The report notes management by Dickinson and Mudge, taxes, miscellaneous income, and a large rise in total income to 28.43 million while interest and other deductions fell. The balance carried to profit and loss was 8.07 million, shifting from a prior-year deficit. funded liabilities decreased, and the company invested in locomotives and terminal work. The piece also hints at war-related labor shortages affecting mining and potential mining law adjustments.
MENTIONED IN THIS ARTICLE
Chicago
Chicago, Rock Islad & Pacific Railway Company
Jacob M. Dickinson
Henry A. Mudge
National Banking Reserves and Market Indicators Summary
The report presents bank reserve data including cash in vaults and deposits with Federal Reserve banks, the reserve ratio to gross deposit liabilities, and Federal Reserve notes liability. It also lists railroad stock performance, industrial stock averages, food cost index, U S Steel orders, and agricultural outputs such as wheat corn and cotton crops, plus freight car shortages and surpluses.
Corn Products Closes Edgewater Plant And Declares Dividends
Corn Products Refining Company directors voted a 5 percent disbursement on back dividends for the 29,826,867 dollar preferred stock issue along with a regular 1 percent preferred dividend. The Edgewater plant is closed and the Pekin refinery runs half time as earnings fall.
MENTIONED IN THIS ARTICLE
Corn Iroauers Refining Company
Edward T. Redford
Edgewater
Pekin, II
Belford
Securities in London Firm on Gains in Gilt-Edged Issues
London on June 22 saw firmer market tone with active gilt edged securities and stronger Brazilian issues amid an improved exchange mood. Russian securities improved on optimism, Mexican National rails firmer, Tron steel and oil stocks steady while rubies and shipping shares lag. Paris Bourse showed heavy prices with three percent rentes at 00 francs cash and London exchange at 27 francs 18 centimes. five percent loan at 8 francs 20 centimos.
MENTIONED IN THIS ARTICLE
London
Paris
Ing
Reorganization at New York Stock Exchange Firm
The NYSE firm Thompson, Shonnard & Co. has dissolved and a new co partnership formed as Shonnard, Mills & Co. New directors include Horatio S. Shonnard, J. M. G. Mills, and F. C. Thompson. J. E. Thompson retires. Also note dividends and stock actions from Columbia Trust, Chicago Ind and Lowville, Tonopah, Osceola, and other companies.
MENTIONED IN THIS ARTICLE
Stock Exchange
New York Stock Exchange
Thompson, Shonnard & Co
Shonnard, Mills & Co
Horatio S. Shonnard
New York Cotton Exchange
J. M. G. Mills
The
F.C. Thompson
Trust Company of New York Authorized as Depository
The Union Trust Company of New York is authorized to act as depository for funds and property described in the legal notice. The document outlines the acceptance of property at a stated site and details related to rental and personal property retained by the trust.
MENTIONED IN THIS ARTICLE
Guaranty Trust Company of
New York
Broadway
Union ‘Trust Company of
Union Trust Compa Ea
Also Mentioned on This Page
Finance Economics
Mills Building
Broad St
Dan
Thes Journal
Hanover
Sub - Treasury
Sub-Treasury
Federal Reserve Bank of New York
Metropolis
Lisbon
Theda
Boston
Philadelphia
Weslinw
Money and Credit
Ceal Company
Lehigh Valley Coal Sales Company
Maryland Coal Company
West Virginia
American Real Estate Company
Chicago & Eastern Minois
Chicago & Eastern Minors Railroad
Carpenter
Central Trust Company
Chicago + Indiana Coal Railway Company
Coal Road
Chicago & Eastern Titiavis
Mortgage Company
Nat'l
Candians
Hank
Siumic
U. S. Treasury Finances
Gorman
Rock Island
Congress
Federal Reserve Banks
Ian Troem
Federal Reserve
Federal Reserve System
Fifth Ave
Tondon
Fifty Ave & Grdsteret AE Lombard
Corn Products
News Digest
George €. van Auyt
Leslie-Judge Company
Baltimore & Ola
Aiead
Second Jay
Mortage Fond Company
Columbia Trust Company
Ind. & Lowville
Argonaut Consolidated Mining Company
Coruth
James Quinlan
Charles 3
Dutcher
FRANCIS M_ BACON
Ogden Chisoll
Cent
Fadelity Trust Company
Fidelity Traserie
Cen International
Jon Capper Company
Se Neerthare Ppt Companie
Gongrat Matern
Battery Park National Bank
Mem and
T'S
Ner
Borders of Record
Bowery Savings
Heniey A Schpnok
Presiter
A. K. Knox
Leddia Secretari Wit
Alex. PW
Francia M. ‘Leake
Hazard
Fall Street
Seaman's Bank For Savin RI
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