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.
MENTIONED IN THIS ARTICLE
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.
MENTIONED IN THIS ARTICLE
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.
MENTIONED IN THIS ARTICLE
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.
MENTIONED IN THIS ARTICLE
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.
MENTIONED IN THIS ARTICLE
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.
MENTIONED IN THIS ARTICLE
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.
MENTIONED IN THIS ARTICLE
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.
MENTIONED IN THIS ARTICLE
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.
MENTIONED IN THIS ARTICLE
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.
MENTIONED IN THIS ARTICLE
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.
MENTIONED IN THIS ARTICLE
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