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Newspaper
New York Tribune
Location
New York, New York, United States of America
Date
Jun 23, 1920
Page
30
Stock exchange dealing showed mixed activity across railroad, industrial and utility bonds and equities. Advances and declines occurred as call money rose, with oil and steel issues influencing trading while Fed credit conditions remained tight.
The War Trade Board announces permission to import German deer under a grant sligeation for immediate consumer needs. Imports will be limited to periods when domestic supplies are unavailable and governed by State Department rules and regulations. Trade controls apply to highsea imports with tests on dye quality and delivery terms.
Market notes indicate Paris prices and currencies fluctuating amid reports of Allied debt talks in London and potential French gold moves. Copper prices fell due to Waterbury strikes while U S bank reorganizations and Youngstown Sheet and Tube plans dominated financial chatter in later sessions.
Mr. Garias appointed special Commissioner and consulting engineer to Mexico's Petroleum Department arrives in New York to confer with American oil operators. He will advise on petroleum law changes to favor national interests and outline recommendations after talks with U S firms. He predicts 1920 oil output could top 100 million barrels, noting Mexico's government stability and reduced military presence aid development.
In Wall Street reports, directors consider the July 1 semiannual interest on a 160.893 million debt and refunding 9 percent bonds for the A. T. C. The outlook improved from rising traffic boosting income by about 5 million in the past year. Market watchers anticipate July dividends and crop financing lifting activity, despite bear positions and oil flotations rumors.
United States Steel, normally the market leader, trades sparingly with past turnover under 5 000 shares for two days. Yesterday no sales were reported until ten past ten. The article notes GM volumes and Texas Company stock revalued after a four for one split, illustrating weak market activity.
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