Market Clarity: Minor Gains Across Industrial Issues
The market ended modestly firm with few spectacular moves. Chandler Motors jumped 21 percent, Cerro de Pasco 4, General Motors 3, Haskell-Barker 3, and New York Air Brake 3 while Baltimore and Ohio common dividend news left railroad shares slightly weaker. Money conditions showed call loan rates at 9 and 9.5 percent, with large bank withdrawals totaling $300 to $400 million to fund July disbursements and bolster reserves. By close, rates drifted lower with mixed collateral loans at 5 percent.
MENTIONED IN THIS ARTICLE
Chandler Motors
Cerro de Pasco
General Motors
Haskell-Barker
New York Air Brake
Baltimore and Ohio
Journal of Commerce
New York
Financial market report and rate changes across banks
The Bank of Bombay reduced its rate to 6 percent. Bank of England notes a rise in gold holdings and a shift in reserve ratio this week. Bank of France reports changes in gold, deposits, and bills. The foreign exchange market was dull ahead of the peace treaty signing while London demand for sterling firmed modestly. A New York banker explains money market dynamics, detailing varied call loan rates and the resulting perception of "6 percent money." Official exchange rates for relief administration supervised currencies are listed alongside notes on railroad funding and a claim denying oil findings by Anaconda Copper.
MENTIONED IN THIS ARTICLE
Bank of England
London
Inc
Gold shipments to Spain and China rise after embargo lift
Gold export plans expand with Heidelbach Ickelheimer & Co arranging 2 million dollars and Goldman, Sachs & Co preparing 750 thousand dollars for Spain. A ship carried 1.9 million to Shanghai and Hongkong. Another 2 million is set to depart today and tomorrow. Total ~10 million expected for industrial use in China.
MENTIONED IN THIS ARTICLE
Spain
Heidelbach, Ickelheimer & Co
Goldman, Sachs & Co
China
Shanghai
Hongkong
American Car and Foundry Reports Record Year Earnings
American Car and Foundry Co earned 32.23 a share for the year ended April, marking its best year in history with total profits of 17,273,172 after taxes. The company added 2,400,000 to the dividend reserve, with 7,200,000 in reserves to cover three years at current rates. W. S. Weedin, president, noted wartime plant use and rapid adaptation for peacetime, while predicting strong foreign demand amid railroad equipment uncertainty.
MENTIONED IN THIS ARTICLE
American Car and Foundry Company
United States
W. S. Weedin
Woaslin
Railroad Administration
American Gar and Foundry Company
Woodin
Curb Market Note from Tribune on Yesterday's Quotations
The Tribune disclaims responsibility for curb market quotes though it reports yesterday's transactions with columns for sales open high low and last. Illi Pipe L shows 10 187 187 187 204 Stan O values appear as 717 715 715 and 372 372 372 for different listings.
MENTIONED IN THIS ARTICLE
the Tribune
Illi Pipe L
Stan O
Wall Street Notes From a Special Directors Meeting
Wall Street items report elections of directors and appointments across several firms. George H. Baldwin elected director at a special International Mercantile Company meeting. Imbrie & Co. offer at 99 percent with $1,500,000 framing mortgage bonds. Arthur B. McArdie resigns as New York bank examiner to join Diorep McArdie. Frank N. Close and others named to the Importers and Exporters Insurance Company finance committee. George F. Lewin named secretary of Stromburg Carburetor Company. EB. W. Lyon named manager of ship sales at the U S Shipping Board. A $5,000,000 issue of Shafter Oil and Refining preferred stock offered by Benbright & Co. and H. M. Byllesby & Co. I. A. Sprague’s New York Coffee and Sugar Exchange membership sold to B. B. Peabody for 6600 dollars, up 256. Bowditch and J. J. Fanshawe named to a committee for stock par value reduction at New England Fuel Oil Company. Kealercanille Trust Company named transfer agent for Clinton-Wight Wire Company Iten Products Corveration and Van Dervoot Engineering Company.
MENTIONED IN THIS ARTICLE
International Mercantile Company
George H. Baldwin
American International Corporation
Waa
Imbrie & Co
United Iron Works, Inc
Arthur B. McArdie
Banking Department
State of New York
Diorep McArdie
Shafter Oil and Refining Company
Benbright & Co
H. M. Byllesby & Co
New York Coffee and Sugar Exchange
I. A. Sprague
B. B. Peabody
New England Fuel Oil Company
Boston
Bowditch
J. J. Fanshawe
Fr. Keech & Co
Money and Credit Market Rates Drift on Mixed Collateral Loans
Call money opened at 9 percent for mixed collateral and 9 percent for all industrial collateral, with a rare up day this year. By close, mixed collateral loans fell to 5 percent while industrial loans also stood at 5 percent. Time money remained at 6 percent amid light lending and rate comparisons show year ago figures. Bank acceptances and clearings reported minimal changes with ongoing fluctuations in related rates and monetary instruments.
MENTIONED IN THIS ARTICLE
Indus
Goodrich Stockholders Approve Capital Increase
The B F Goodrich Company stockholders authorize raising capital from 34600000 to 109600000 with 25 million of 7 percent cumulative preferred stock. Fifteen million of the new preferred stock will be offered pro rata to holders of record July 1 1919 at 102 a share plus accrued dividends payable August 1 1919. The new stock carries 7 percent preferred dividends from July 1 1919.
Virginia Debt Bonds Ready
Virginia debt bonds will be signed in New York by State Treasurer W. 2 Johnson and State Auditor John S. Durst for about 30,000 bonds totaling 413,500,000. After signing they will be turned over to a Virginia Debt Commission representative for payment.
MENTIONED IN THIS ARTICLE
Virginia
Charleston
W. Va
W. 2 Johnson
John S. Durst
New York
Virginia Debt Commission
B&O Financing Requires $3.5 Million Set Aside Annually
The Baltimore & Ohio will issue 35 million dollars of ten year 6 percent bonds. An indenture requires net income from July 1, 1919, to reserve at least 3.8 million annually until 9.5 million is met. Funds go to capital expenditures or retiring funding debt. The syndicate offering the bonus is Kuhn, Loch & Co. Speyer & Co. and the National City Company. Bonds backed by large Reading and B&O securities valued around 45 million with a 25 percent margin.
MENTIONED IN THIS ARTICLE
Baltimore & Ohio
Kuhn, Loch & Co. Speyer & Co
Natinal City Company
Reading Company
Reading Common
Stockholders Subscribe Heavily To New Tennessee Copper Issue
Stockholders of the Tennessee Copper and Chemical Corporation have subscribed to eighty per cent of the four hundred thousand shares offered, leaving eleven per cent to be taken by the underwriting syndicate. The firm also exercised a prior option to buy phosphate deposits in Florida and plans to manufacture acid phosphate for sale to fertilizer and chemical companies.
MENTIONED IN THIS ARTICLE
Tennessee Copper and Chemical Corporation
Florida
Brokers Tax Due July 1
William T. Edwards, Internal Revenue Collector for the 2d District, issues a statement urging brokers to pay the special tax under Sub-division 1, Section 1001 by July 1 for the year ending June 30, 1920.
MENTIONED IN THIS ARTICLE
William TI. Edwards
Internal Revenue
2D District
Economic indicators and production figures summary
A compiled list of U.S. economic data including gold reserves, bank reserves, bills, and Federal Reserve notes. plus prices, living costs, and Dun’s indices. It reports May 31 production stats such as steel orders, pig iron output, wheat and corn crops, cotton, and railroad earnings, with comparative week figures and annual totals.
MENTIONED IN THIS ARTICLE
Federal Reserve
U. S
Sear
Rae Pasee
Bond sales topic unsettled in the market report
An obscure market note reports on bond sales with references to high and low values, mentions Southern Railway and unlisted shares, and notes selling activity per share without clear pricing or dates. The fragment hints at trading dynamics and non listed securities amid uncertain demand for fixed income.
Also Mentioned on This Page
Bok
Morris & Co
Trinity Bigs. Corp
Theta Misia
NaSesality Beak
Fifth Arn
Crd
M 50
Merill, Lynch & Co
Broadway
New York Stock Exchange
American Petroleum Institute
National Automobile Chamber of Commerce
J.R. Bridgeford & Co
New York Telephone
Rector
K. Rice, Jr. & Co
American Strawboard
Air Reduction
Atlan Portland Cament
American
Globe & Rutgers Insurancemerican Insurance
Guaranty Trust
Int'l &Kent Northern Corp
Knox Hat Inc
New York ‘Trust
N.Y
Ptd
S.k.rice,jr
4Co
Ieee
Unaecems Co
Sea
Franklin Fire Insurance
Naligh Valley Con
Eure
J.krice,jr.&co
John
Maury, Rogers & Auchinclos
Stock Exchan
N.Y Cotton Exchangeage Board of
Broad St
N. Y
Investment Securities
Exchange Place
Bechanos
Mark A
Noble
Theodore O
Corwin
Noble & Corwin, Bros New York
Chase Nat
N. Bement Pond
Bankers Trust
Otis Elevator
Felaphone
Brena
Bank of Bombay
Bank of France
Paris
Stock Exchange
Germany
Poland
Finland
Czecho-Slovakia
Austria
Jugo-Slavia
Rumania
The
American Relief Administration
Washington
Wilson
Anaconda Copper Company
Wall Street
Anaconda
Belgium
Sweden
Denmark
Norway
Japan
Argentina
Brazil
Rio
American Car and Foundry
Standard Oil
Claib & An F
Clint-Wright
Colonial Tire
Contin Cand. Son
Itbanks Co
Farrell
tFisk RT
Freyden Shem
Hupp
Intereaon
Lima Loco
Marconi of
Marty Parry
Mex. Invest
NAP & P
Perfes 'T & R
Wayne Coal
Los
Allen
Allied Oil
Ty ‘Mal Roy Dys
Mignett O
Big DO & R
Boons Oil
Burk VC O
Common Pet
Gosden & Co
Teik Basin
Brtel
Glenrock
Jum Cove Oil
Houston
Hudson Is
Invincible Oil
tIstand O & T
Lance CR
Maryland
Merritt Oil
Ao Midwest
Ohio Ranger
fOmar O & A
O &G
Pennock Gil
Pitts-Tosas
Ranger
Richard T'Co
Ryan
Sinclair G Oil
Sinclair G
I Southwest
OL & T. Ly
Swn P HE
Stanton Oil
Wa Ie
Jexana O&r
Texas P & Ry
Rex-R B&r
Texas
Ag As ‘Tana
exKen Gil
fUn ‘Tex Pet
Vacuum O&g
Valy O P Inc
tVentura
Vic O
New St
OCR
Oil &, G. Sa
M&m
Alaska Mines
Allied Gold
America Mr Wy
Nou FA
Butte
Atlan O
Atlan O&r
Bigs Ledge
Belch Dapy
Belch
iCaledonia
Canada Copper
Candelaria i Baie
Gpiseade
Carshibuye
Cerb Sm&m
Ariz
Gans Copper
Cresson
Avenna
Eureka Gr M
Golden Gate
Goldfield Gans
Goldfield
Sion
Farmill Tv
Hasbro Kd
Hecla Mining
Bie
fJim Butler
Knox Divide
MacNam Gi
Mut Tin Corp
Nixon
Mg & P
United Eastern
Eni Cons
Aikak
Importers and Exporters Insurance Company
Frank N. Close
G. H. Kinnicutt
J. F. Farrell
SM. F. Helde
Gnance
George F. Lewin
Stromburg Carburetor Company
Kenneth Howard
EB. _W. Lyon
Bankers Trust Company
United States Shipping Board
Kealercanille Trust Company
Meney the
Clinton-Wight
Ete Iten Products Corveration
Hiro
van Dervoot Ensineering Company
Money and Credit
Philadelphia
Sub-Treasury
Bombay Bank
B. & O. Financing
Tennessee
Nerf
Pereltyp
Dun
America
India
National Bank of India, Ltd
Asia
East Africa
Anglo South American Bank, Ltd
Cochin
Mandalay
Aden
Aden Point
Colombo
Kandy
Zanzibar
Newera Eliya
Calcutta
Bombay
Madras
Karachi
Cawnpore
Lahore
Amritsar
Delhi
Tuticorin
Ancto South American Bank Ta
Head Office
John Cone
F. C. Harding
W. M. Dawkin
Ohio
Ohio Securities
Otis & Company
Cuyahoga Building
Cleveland, Ohio
Standard
Carl H.pforzheimer&sco
San Francisco
Seattle
Yokohama
Dutch East Indies
Central
South America
Richard Delafield Stuyvesant Fish
Gilbert G. Thorne
Cornelius Vanderbilt
R. H. Williama
E. C. Hoyt
Sir Wm. Price
H. B. Shaw
R. O. McCulloch
Stephen Haas
W. J. Dawson
F. L. Appleby
Charles A. Holder
T. Fred Aspdon
Swift & Co
Shippee & Rawson
American Malting
Int
L & Gt
Northern Corp
Kirby Lumber
Pfd
J.k-Rice,jt.&co
Liberty Bonds
Bose
Purdy & CO
Joke
Fine
Hartshorne, Fales & Co
N. Y. Stock Exchange
Bowling Green
Metropolitan Trust Company
City of New York
Harriman National Bank
Fifth Avenue
Forty-fourth St
Mdaiche
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