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This newspaper page contains 11 articles. Subscribers can read the full text of each article.

Newspaper

New York Tribune

Location

New York, New York, United States of America

Date

Jun 28, 1918

Page

4

Dollar declines across foreign exchanges hit American trade

The dollar trades at roughly 70 cents in Spanish money, 79 in Dutch, 78 in Swiss, and 80 in Swedish in foreign markets, imposing heavy costs on American importers and exporters. A restoration to normal parity is urged, with proposals for Allied coordinated import export control and a multi-bank credit fund to stabilize and backstop exchange markets.

Sterling Exchange New York Spain Lord Cunliffe Bank of England Senate Committee On Banking and Currency United States Fredrick England France Italy Federal Reserve Board Denmark Sweden

Dollar firmer in foreign exchange amid lire rally

The dollar strengthened to 84 lire yesterday, the highest level since early in the year, aided by the new stabilization plan in London and New York. Other exchanges were steadier with Spanish pesetas easing while Paris and London rates held. Closing figures show mixed moves versus a week earlier.

London New York Paris

Money and Credit Market Rates and Bank Clearings

The report details call money rates on mixed collateral and industrials, with six percent common for top maturities. It notes a steady money market, liberal call money at 4 to 5 percent, and time funds active at 6 percent on industrials. Sterling around 4.75 dollars, with various foreign currencies listed and bank clearings across major cities.

Stock Exchange Spain Sweden Denmark Norway Argentine India BR India

Large Loan Negotiations Between State Dept and New York Banks

Negotiations in Washington involve a proposed $50,000,000 loan to China with State Department backing and a demand for government guarantees. Bankers seek Japan's cooperation and prefer a nationwide American lead center in Chicago, recalling a 1916 $5,000,000 loan and previous five power concerns over supervisory control.

China State Department New York Republic Washington Morgan Wilson Taft Jorge Soan

Market Barometers Yield Stock Exchange Totals and Rates

Historical market barometer snapshot detailing yesterday and day prior trading figures across bonds, railroads, and industrial stocks. Includes year comparisons 1916 1917 1918 and January 1 to date totals for bonds and government securities in a compact ledger style.

U.S. Gav S. Gov'nts

American Sumatra Seeks Increase in Capital Stock

Directors of the American Sumatra Tobacco Company applied to the capital issues committee of the Federal Reserve district for authority to raise common stock capitalization. The exact amount is undisclosed, with a proposed stock distribution as a dividend. The move follows prior notes on retirement plans and amid merger rumors surrounding tobacco concerns. The firm has 6.8 million dollars in common stock and 2 million in preferred, with a history of volatile market performance since its 1910 consolidation.

American Sumatra Tobacco Company Capital Issues Committee Federal Reserve District Sumatra Rethleben Steel

Spain Reports 1918 Trade Balance Ahead of Prior Years

Madrid dispatch shows imports for January–April 1918 at 160,196,000 pesetas and exports at 271,266,000 pesetas, yielding a 102,000,000 peseta favorable balance. Totals for tonnage: imports 299,000 tons, exports 2,479,000 tons. Other items note corporate leadership changes at Hocking Valley Railway and Greene-Cananea Copper Company.

A. C. Rearick Hocking Valley Railway Company George W. Sevens L.D. Ricketts Greene-Cananea Copper Company

Significant Relations Loans and Financial Indicators

The data lists national banks' loans and surplus reserves, bills discounted by Federal Reserve Banks, currency in circulation, total gold reserve, stock and bond price averages, cost of living indices, and Dun's commodity indexes. It also shows production figures for crops, railroad earnings, bank clearings, building permits across 149 cities, and multiple year comparisons with totals in dollars and bushels.

Bank of England London Bankf England Bank of Germany Imperial Bank of Germany Treasury Tnc Bank of France Paris Inc Federal Reserve Banks Federal Reserve Notes Total Gold

New Jersey Bankers Form State Group to Fight Federal Encroachment

About 150 New Jersey bankers from state banks savings institutions and trust companies met at the State House Trenton to defend state financial institutions against perceived Federal encroachment. Frank H. Smith was elected commissioner and urged united action forming a national bankers organization to review proposed legislation. W McCarter was elected president with William Field and John B Clements as officers.

Trenton New Jersey State House Newderney Phelan Banking and Insurance Frank H. Smith State Association For Bankers Smith St. Louis Howard L. Farr Camden Trust Company John A. Campbell Trenton Banking Company George A. Bourgeo Commercial’ Trust Company of John B. Clements Central Trust Company of

National City School of Bond Salesmanship graduates ten

Twenty young women completed the National City Company's School of Bond Salesmanship with a luncheon at the Bankers' Club. John B. Young will head the new Forty third Street and Fifth Avenue branch opening next month. A night official at United Cigar Stores dismisses merger talks with Tobacco Products and American Sumatra. stocks opened higher but closed down. The Chicago Milwaukee and St Paul Railway directors offered no dividend news. Mexican petroleum prices rise to and stay near 100 with heavy turnover. War savings stamps become purchasable on demand via brokers before 1 pm. Virginia-Carolina Chemical and American Ship Building Co declare extra dividends payable in Liberty Loan bonds.

National City Company Bankers’ Club John B. Young Fortythird Street Fifth Avenue Cou Young United Cigar Stores Company Tobacco Products Corporation American Sumatra Tobacco Company Stock Exchange American Sumatra Tobacco Products United Cigar Stores Chicago, Milwaukee & St. Paul Railway Company Virginia-Carolina Chemical Company American Shipbuilding Company Virginia-Carolina Chemical Co Richmond Dicrctath Virgisstutaina Chemical Company Tan Utock Ree United’ Staten Bonde Cox W. Travers Treasure

Anaconda Copper Mining declares dividend on $50 stock

The board declares a dividend of 2.00 per share on par value stock, payable August 26, 1918, to holders of record at close of business July 20, 1918. Shareholders who have not converted to $50 shares should do so to receive the dividend promptly. Secretary AWL Melin.

Anaconda corrEn Mining Broadway New York Anaconda Copper Mining Company Awl Melin Guaranty Trust Company of New York City Dina Gaemicas Company Dave Thi Ota Dune of Besiicas Tranofer Books W. Travers Treasure Busine John W. Damon General Motors Corporation Une Board of Director Corporation Tock Algo paysbIe RICE

Also Mentioned on This Page

Finance Economics Wall Street Offic Malls Broad St Hisnovel Dominion Federal Reserve Boston Phiadelphia Cleveland Atlanta Chicago St. Loui Minneapolis Exasaa City Delas San Francisco Ottawa Chartered Banks of Canada San Joaquin Light & Power Corp Pacific Coast New York State Crieular No Spencer Trask & Co Broad Street Albany New Fork Stock Exchange Exchange Place Stook Beohane N.Y Rys. J Pforzheimereco A. Housman & Co Y. Breck Exchange Y. Cation, Exchange Coffes & Sugar ix Produce Exchange Chicago Board of Trade Omce West Kirby Lumber Elliott Fisher United States Pipe Line Frederic H. Hatch & CO Karris Forbes & Co Pine Street Corner William New York Liggett & Drexel Philadelphia Buffalo Harriman National Bank Fifth Metropolitan Trust Co Mark A, Noble Theodore Noble & Corwin Babcock's Wilcox Extellfauresee Money and Credit Sub-Treasury Bible Ber Bank Neligibl Ciscount Rilea Japan Continental and Commercial Trust and Savings Bank of Chicago Mulntuple Group Peking Foreign Office John Jay Abbott Chicago Bank Diliee Usning Germany American International Corporation J. P. Morgan & Co. Kuhn, Loeb & Co The First National Haak National City Bank Dun Bradatreet St. Paul Mexican Petrolum Mexico Rio Grande Tampico Seaboard Air Line Railway Company Florida Central and Peninsular Railroad Company Borough of Manhattan City of New York Broadway, New York Guaranty Trust Company of New York Rupert L. Nutt the National City Company Guaranty Trust Compan of American Gas & Electric Co Wm. A. Read & Co Nasasa Cedar Streets Intervent Benjamin Franklin Bank.of America Dirsctura Wem, Bennet, Ceantor United Fruit Company Citizens National Bank Albion K Chapman Caablet Wells Fargo & Company Bae Sapon Goma Hs Isi Books Jie Buslueay Duis Gardiner Secreta York American Telephone & Telegraph KO York Bankers ‘Trail Company Milne Pierce-Arrow Motor Car Atlock P.M. Filger Lune
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