Market shows two sided action amid varied stock moves
The Mills Building report notes a two sided stock market with poor specialties rising sharply while many representative stocks show declines from realizing sales. Overall, confidence in future outlook remains, with professional traders dominating activity and limited floating supply aiding periodic advances. Bank and money markets show easier call loans around 4 percent and time loan rates 5 to 6 percent, while bank acceptances rise as attractive temporary investments amid broader discount market activity.
July Cotton Jumps to 28.30 on Short Covering and Weak Deliveries
July cotton rose sharply with July contracts touching 28.30, a gain of about 94 a bale from Monday's close, marking the highest since last month. Market strength centered on near positions amid few notices and light delivery potential, as speculative and trade shorts covered and Liverpool and New Orleans supported bids. October and December futures followed higher, with a bullish outlook based on reports of crop condition and strong demand from Liverpool, New Orleans, and Wall Street. No exports were reported yesterday.
MENTIONED IN THIS ARTICLE
Phs jShort
Liverpool
New Orleans
Wall Street
Jptarele’ Ooo
Bare
Buckland Elected President of New Haven Railroad
Edward G. Buckland, long time vice president and general counsel, was chosen president of the New York New Haven & Hartford Railroad yesterday to succeed Edward J. Pearson who recently became Federal manager. Buckland has worked with the line for 25 years and was previously Yale Law faculty.
MENTIONED IN THIS ARTICLE
Howard Elliott
Edward G. Buckland
New York, New Haven & Hartford Railroad Company
Edward J. Pearson
Buckland
New Haven
Yale University
Providence
Rhode
Money and Credit Conditions in the Money Market
Yesterday's money market showed further ease with call money at 4 to 4.5 percent and fixed date funds offered by leading banks around 6 percent for sixty to seventy-five day periods. Rates for money ranged from 5 to 6 percent for longer industrials and half and half collateral, with tabled figures comparing yesterday to a year ago. Bank acceptances broadened demand, with eligible bills sought from both local and out-of-town sources and rates listed for various maturities.
MENTIONED IN THIS ARTICLE
Stock Exchange
London
Treasury Department
Federal Reserve Bank
Financial District
Siel
Lewisohn Brothers Gain Significant Pierce Oil Stake
Lewisohn Brothers, prominent Stock Exchange members, acquire a substantial Pierce Oil Corporation stake. Frederick Lewisohn is elected director as Hayden, Stone & Co. exits the board. The company shifts headquarters to a major financial center and reports improved earnings for the first five months of the year, about 1.15 million dollars versus 398 thousand a year earlier.
MENTIONED IN THIS ARTICLE
Lewisohn Brothers
Stock Exchange
Pierce Oil Corporation
Frederick Lewisohn
Hayden, Stone & Co
Charles Hayden
St. Louis
Standard Oil Interests
Henry Clay Pierce
and Associates
John D. Rockefeller and
Associa
Missouri
Illinos
Arkansas
Oklahoma
Iana
Texas
Market Barometers and Bond Totals Show Mixed Week
The report lists week comparisons for stocks, rails, and other sectors with figures for yesterday, day before, and year totals. It also details January to date bonds by U S government issues, railroads, and others, plus island interests and Buckland's long career in Connecticut, Rhode Island, and New York. Howard Elliott to stay as adviser and chair committee on intercorporations.
MENTIONED IN THIS ARTICLE
U. S
U.S. Goy
Committee On Intercorporaations
London stock market shows steady gains in quiet session
London quotations firmed with scarce sellers and higher prices for gilt edged issues. Russian bonds led gains with Russian mines and industrials also rising while Mexican issues and oil stocks advanced. money supply ample and discount rates quiet. Paris bourse was active with three percent government notes at 5 francs 0 centimes and five percent loan at 88 francs 25 centimes.
MENTIONED IN THIS ARTICLE
London
Susan
Paris
Camden Iron Works Receivers Granted 80 Percent Dividend
Judge Haight in New Jersey signed an order permitting Camden Iron Works receiver to pay an 80 percent dividend on unsecured claims totaling up to 1 million dollars. Bondholders may be excluded from the distribution. Receivers receive 25 thousand dollars and counsel ten thousand from the estate. Federal Reserve board announces admission of McCornick and Co and Farmers and Stock Growers Bank of Salt Lake City to the system with specified resources.
MENTIONED IN THIS ARTICLE
Camden Iron Works Securities
Nuware
N. J
Jude Whomay G. Haight
United States District Court
Camden Iron Works
Camden
McCornick & Co
Entertem
Washington, Jane
Federal Reserve Board
Reserve System of
Salt Lake City
Farmers and Stock Growers’ Bank of
Elections set leadership for Penn Petroleum refining firm
Lewis Dixon is elected president of Penn Petroleum Refining Company Edward Buckland of the New York New Haven and Hartford Railroad is named president succeeding Edward J Pearson who becomes Federal manager Floyd P Smith is elected vice president of Denner Steel Company
MENTIONED IN THIS ARTICLE
Lewis Dixon
Penn Petroleum Wend Refining Company
Edward ©. Buckland
New York, New Haven & Hartford Railract
Edward J. Pearson
Floyd P. Smith
Denner Steel Cemipany
Economic indicators roll through stock, money, and production data
Data outlines money stock and Federal reserves, gold reserves, bill discounts, and note circulation. It lists average stock and bond prices, cost of living indices, Dun’s index, steel orders, production totals, wheat and oats figures, bank clearings, commercial failures, and building permits across 149 cities.
MENTIONED IN THIS ARTICLE
Aris
Dun‘s
Bradatreet's
Erie R. R. Seeks Bond Extensions
The Erie Railroad seeks extensions until July 1 1928 for three bond issues maturing this year. Buffalo & Southwestern 6 percent bonds 1.6 million, Erie Railroad 6 percent division bonds 1.0 million, and Chicago & Atlantic Railway terminal bonds 0.6 million. Holders must deposit securities at J P Morgan & Co with July 1 coupons. Cash payments and yields vary by issue, with about 6 percent yield expected.
MENTIONED IN THIS ARTICLE
Erie Railroad Company
Buffalo & Southwestern Railroad
Butfalo & Southwestern Division
Chicago & Atlantic Railway
J. P. Morgan & Co
Buffalo Southwestern Division
Chicago & Atlantic Terminal
Erie
Railroad
Finance and industrial moves span stocks and steel output
Directors refer a resumption plan for preferred stock arrears and a reversion to 7 percent. steel finishing mills report near full capacity. A reorganization plan for Federal Dyestuffs and Chemical Corp details noteholder bids, new capital, and bond issues. Amster foresees govt approval for Rock Island dividends and rail dividend requests. Market notes cite General Motors hitting a high and broad commission-rate discussions for stock trades.
Foreign Exchange Shifts as War News Affects Markets
Markets react to Austro Italian front developments with a sharp drop in Holland and Austro German rates. Dutch francs trade near 34.87, Austrian crowns slide to 19.80. Washington debt plans spark talk of Liberty Loan bonds in foreign money to stabilize rates. Canada faces high loan costs abroad, with Ottawa signaling New York issuance likely unviable.
MENTIONED IN THIS ARTICLE
Frans Y.escen
Denmark
Sweden
England
Holland
Amsterdam
Amster
Washington
Treasury Department
Dividends Declared by Multiple Companies This Month
An array of dividends declared by firms including Arlington Mills American Public Utilities Central Minnois Public Service and Chicago City Railway. Payouts range from 1 to 2 percent, with several specials and preferred stock mentions, all payable July or August to shareholders of record in June or July.
MENTIONED IN THIS ARTICLE
Arlington Mills
Fulsi
American Public Utilities Company
Anaconda Copper Mining Company
Terry
Chicago City Railway Coun
Posable
Dune
Chicago Preumatic Tool Company
Central Minnois Public Service Corporation
Central & South American Telegraph Company
Chicago City Railways
Consolidated Traction Company of
New Jersey
Edison Electric Company of
Lancaster
Hie
Harrishare Light & Power Company
Hudson Trust Company
Ilinois Northern
Kansas City
Fort Scott
New Idris Quicksilver Mining Company
Y T
North Butte Mining Company
Public Service Corporation of Northern Minors
Central
Dividend notices from multiple companies announced
Dividend declarations list multiple firms including Railway Steel-Spring Company and United Gun Improvement Co. with details of cash or stock dividends, payment dates in July 1915 and 1918, record dates, and treasurer sign-offs. Checks and transfers will be mailed or made available, with notices from The Bank of America and various treasurers.
MENTIONED IN THIS ARTICLE
Railway Steel-Spring Company
Church Puest New Vorg
Facard
Ei, McCormick
United Gun Improvement Co
Broad and
Arch Streets
Philadelphia
Dimetora
Atoc
LW. Morris
Also Mentioned on This Page
Spencer Trask & Co
Broad Street
New York
Albany
Boston
Chicago
New York Stock Exchange
R.c.megargel
Hive
Pine Street
Hughes & Dier
Stock | Exchange
Chicago Board of
Broadway
Bnanoway
Younem
Penn
A. A Housman & Co N
Gyton Beeban
Cortes
Sugaree N.Y. Produce Exchange
Chicago Board of Trade
Omire
West
Carsh.pforzheimer&co
N.Y
Harris, Forbes & Co
Corner
Wittam
George H. Burr & Co
Mountain States
Linn & Dow
Pia
Texas Power
Michigan
Carolina Power
Frederic H. Hatch & CO
Liggett & Drexel
New
Harriman National Bank
Fifth
Australia
New South Wales
Penrith
Sydney
United States
Finance Economics
EET
Mills Building
Broad St
Slanover
Sub-Treasury
Lisbon
Federal Reserve Banks
Quebec
Spain
Norway
India
Buckland New New Haven R. R. President
Money and Credit
Pierce Oil
News Digest
Federal Reserve
Tape T. Coe
Erie R. R
Holder
The
Farmers’ Loan and Trust Company
William Street
Fifth Avenue
Forty-fivet Street
Rani and
New York Clearing House
International Agricultural Corporation
Finance Committee
Stephen B. Fleming
John J. Watson
Albert H. Wiggin
Thomas W. Lamont
George B. Case
Filbert Hilary
United States Steel Corporation
Alvin W. Krech
Equitable Trust Company
Federal Dyestuffs and Chemical Corporation
Rock Island
Nathan L. Amster
H. G. S. Noble
Boston Stock Exchange
General Motors
Dollar Sears
Montreal
Ottawa
Dominion
Stafford Mills
Bank OF America
Board of Directora
Save
W. M. Bennet
Central Trust Co
Estamasmey
Union Trust Co
Parantiemen Lbsa
Central Union Trust Company OF
Realway Ace
Trankartal
Sot Ee Nirel Truet Company
Walt Steney
Ey de Cuton ‘Truet Company
Witt Coneloyions
Broadwage
Central Union Trum
Wallace ‘Oleman
Board of
Testa
Edwin
Merrill
Trustees Plaza
Fifth Ave
60Th St
42Nd ST
Madison Ave
38Th St
Bank For Savings
Coty
Fourth Avenue
Fas
Eix
Pouitors
Deporits
Wiry
Walter Trimbly Letis
John Warper
Square Savings Bank Xu
Aoe Nate Ee
Rockwood
Frederic C Miles
Treaster MW
RockWoop Reinckerhofs
Hugh Gardnor
Cashier
Seamen’s Bank For Savings
PME
Jerets
Hales
Presta MM Halset
Eceer
Dra Internet
Jug Bi
Metropolitan Savings Bank
Third Ave
Cooper Tnatitute
Jane
Muffer
NEW York Savings Bank N. W. Cor
William Ramee
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