Gold transfers hint at new Reserve foreign dealings
The article discusses potential arrangements between the Federal Reserve and the Bank of England to settle U S foreign obligations via transfers to the Far East, reducing physical gold shipments. It explains bookkeeping methods and cost savings, noting implications for U S and British gold reserves and shipping costs amid wartime disruptions. It also covers railroad stock activity, coal rate rulings, and gold imports from Canada.
MENTIONED IN THIS ARTICLE
Federal Reserve System
Bank of England
Eagle Bank
Canada
Leitich
Japan
United States
Vancouver
Far East
J. Morran & Co
Federal Reserve Bank
New York
London
Lisbon
Dollar Strength In Foreign Exchange Market Amid War Weighs
The local market shows a strong dollar with Swiss francs at 4.86 and 4.88 per dollar for checks and cables, the Swiss rate at a war-peak. Russian rubles slip to 28.40 cents from 23.78, Italian lire firmer, and dither rates steady as American bankers suspend trading in German and Austrian exchange.
MENTIONED IN THIS ARTICLE
Puitzeriana
Denmark
Sweden
England
Banks Short Of Liberty Bonds Prompt Exchange Costs
National City Company president Charles F. Mitchell explains banks are short of Liberty Loan bonds due to instruction patterns and currency conversions. The piece lists exchange rates for pounds francs guilders lira and other currencies, plus intrinsic parity figures from the U S Mint, noting the impact on bond orders and market expectations.
MENTIONED IN THIS ARTICLE
Charles F. Mitchell
National City Company
New York
Mitchell
Wethas
Stockholm
Copenhagen
United 1
States
Money Rates Hold Firm In Local Market
Call loans ruled at 6 percent with restricted offerings. Gold arrivals did not lift rates much as broad liquidity remained about 190 million dollars in the Foot right days. Stock Exchange collateral stayed firm on light turnover as lenders held back until semi annual payments. Industrial collateral loans showed mixed rates near 6 percent for all maturities.
MENTIONED IN THIS ARTICLE
Black Exchange
Stock Exchange
Banks to Receive Deposits of Liberty Loan Funds Today
The Federal Reserve Bank of New York will start today distributing 40 to 110 million dollars from Liberty Loan subscriptions to Second Federal Reserve district depository banks and trust companies. The 18 percent second installment of 10 million due tomorrow will be retained by banks to the government's credit. Deposits bear 2 percent interest and may be adjusted as the war finance system evolves.
MENTIONED IN THIS ARTICLE
Federal Reserve Bank of New York
Federal Reserve
New York Federal Reserve Bank
United States Treasury
Liberty Loan
London Stock Market Firms Firm Undertone in Colonial Bonds and Rail Shares
London market stays firm with steady demand for colonial bonds oil shares and Argentine rails. United Fruit wins $15 million antitrust suit. court bars conspiracies while treble damages apply. Dividends declared by Atchison Topeka Santa Fe and Anaconda Copper Mining. record dates set for July and September payments.
MENTIONED IN THIS ARTICLE
London
Atchison, Topeka
Santa Fe
T's
Stork
Chicas Preumatic Trol Company
Anaconda Copper Mining Company
Alliance Realty
Mack
Western Union to Take Over Postal Telegraph in Pennsylvania
Western Union directors approved a contract to lease Postal Telegraph equipment and assume the Pennsylvania Railroad telegraph business from Pittsburgh westward. The Philadelphia board’s ratification was expected today, as the Postal line relinquished the contract to avoid onerous terms.
MENTIONED IN THIS ARTICLE
Western Union
Tribune
Postal Telegraph Company
Pennsylvania
Pittsburg
Pelivania Board
Philadelphia
Pennsylvania Railroad
Pittsburgh
Railroad appeals from large judgment in trust case
The Denver and Rio Grande Railroad Company yesterday appealed to the United States Circuit Court of Appeals from a judgment of 48 million 270 thousand 43 dollars entered against it in favor of Equitable Trust Company. The railroad claims the contract forming the suit’s basis was abrogated.
MENTIONED IN THIS ARTICLE
United Fruit Company
United States District Court
Bluefields Steamship Company, Limited
Louisiana
Woolley
United States Circuit Court of Appeals
Bluefields
Denver & Rio Grande Railroad Company
Equitable Trust Company
Short Term Notes Issued by B. and O. Rail Financing
Kuhn, Loeb & Co and Speyer & Co announce a $15,090,000 Baltimore and Ohio 5 percent gold note issue. Half mature in one year, half in two, offered around 93 with about 7 percent yield to investors. Proceeds fund working capital and reimburse the road’s treasury, secured by B&O mortgage bonds, Reading Co stock, and other collateral, with potential substitution of additional bonds for stock.
MENTIONED IN THIS ARTICLE
United States
Kuhn, Loeb & Co
Speyer & Co
Baltimore & Ohio
Birmady
United States Mortgage and Trust Company
Baltimore & Ohio Railroad
Reading ‘Company
Reading Company
Reidstig
Sugar Reining Company Stockholders Vote for Full Publicity
Stockholders approved complete financial publicity of the corporation. Alvin Wy Krech became a director replacing resigning Louis Spreckeler. Reported profits for the year ended May 25 1917 show a surplus and a new factory capacity of one barrel a day. May 1917 revenues and earnings for other lines were disclosed with various dividend actions and capital changes noted.
MENTIONED IN THIS ARTICLE
Federal Sugar Reining Company
Adair
Alvin Wy Krech
Equitable Trust Company
Louis Spreckeler
Federal Reserve Notes in Circulation and Gold Reserves Displayed
The report lists bills discounted and bought by Federal Reserve banks, total Federal Reserve notes in circulation, and gold held against circulation. It notes inclusion of gold held by Reserve agents in the general fund starting June 24, 1910 and references 1916 figures for comparison.
MENTIONED IN THIS ARTICLE
Federal Reserve Banks
Federal Reserve
General Fund
Trading Mixed as Rail Shares Lead Upward Market Move
The stock market showed strength in railway shares with major gains and expectations of higher rates approved by the Interstate Commerce Commission. Steel and related industries faced pressure while motors rose. U S bonds and Panama issues fluctuated as traders priced in shifting Washington guidance and crop conditions influenced key gains and losses.
MENTIONED IN THIS ARTICLE
Interstate Commerce Commission
St Paul
Ad States Steel and Related Indust
Studebaker
Washington Ad Central
Ohio
Liberty Bonds
United Star
NEW York Stock Exchange
Also Mentioned on This Page
New York State
Spencer Trask &Co
Broad Street
Albany
Boston
Chicago
Rhoades & Company
Kembera
New York Stock
Lechange
Pine Street
New Jersey
City of
Newark
E. H. Rollins & Sons
Our Service Department
Treste
Grareett Oaign
Ttatine
Mirpariement
A. A. Housman & Co
Sid St
William R.@mpton
Wall Street
Gistoum &Fapman
Finance Economics
Mills Building
Broad St
Atlantic
Ngland
Orl
Authority On Foreign Exchange
America
Hanover
Cleveland
Richmond
Atlanta
St Louis
Minneapolis
Kansas City
Dallas
San Francisco
Baltimore
St. Louis
Sub - Treasury
Treasury
Money and Credit
Money Market
News Digest
National Association of Owners
Davies Warfield
Contiental Trust Company
Forrest F. Dryden
Prudential Theurance Company
Glenn
Atlantic Steel Contoons
John J. Mitchell
Iinoin Trust and Savings Bank
Nicago
Charles CM Viranisco
Kod
HL Kempnet
GalveTex
J. Hough Cottman
Wemnurer
W. U
Ahan Topeka & Santa Fe
Central Leather
North Butte Minime
Pri
Granite Mountain
Comppany’s
Rutt
Texas Company
Houston
Tes
Alao
People’s Gas
People's Gas Company
Apany
U.S
Tors
Active Securities
Saito Chi
Cuba
Detroit
Erie
Fm&s
Fisher BC
Garieh
Greene CO
Hino
Kelly Spr
Kennecott
Lake Kaw
R&tc
Louis &N
Miami CO
Mok&t
fwAm Ag
BOON
H&l
Nor
Toco
Gon Penn RR
G&c
Wopccesel
Sion P & W Va
G&win
Rakiwin
Halt & O
Ona Ray CC
Aio Brunswick
Gov Royal
Cal & AL
L & SW
Alpe
Chindler
Vee &O
Sinclair O
Ochie
Son
CM & Sip
Steet
Ren C&c
Tex & Pac
Texas Co
Wilton Co
Willys Oo
Harris, Forbes & Co
Corner
William New York
Spitzer, Rorick & Co
Equitable Bldg
New Yor
Toledo
George H. Burr & Co
Broadway, New York
Hadford
Seattle
H. D. Robbins & Co
Broadway
Carib Syndicate
Winchester Rptg. Arms
Rocky Mt. & Pac
Frederic Hh, Co. & CO
Knauth
Nachod & Kahne
W. C. Langley & Co
New York City
Harriman Hlational Bank
Fifth Avenue
Forty-fourth St
Safe Depost
Modern Trust Company
Service Metropolitan Trust Co
Biecay
An Tugh
T Seorge Watt Sit
Heneby
Emo Birckiana
G. Polson
Seety
Kouahkeopete
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