This is just the beginning! Our collection holds over 300 years of history, including rare newspapers, obituaries, marriage records, birth records, and so much more—most of which you won’t find anywhere else!
This newspaper page contains 19 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 29, 1918
Page
4
Financial district sentiment runs high on war victory hopes and a likely peace discount yet actual trading remains muted. Investors face tax and possible Washington intervention risks while money markets show restraint as banks curb nonessential credits and speculative demand persists at high stock and bond yields.
The call money market at the Stock Exchange showed ample funds yesterday with rates at 4 to 4 1/2 percent, some business at 3 percent for mixed collateral. Fixed date funds remained quiet with little new lending, while quotes for 60 day industrial collateral loans stood at 6 percent and longer loans at lower bids.
Foreign exchange moved narrowly yesterday with Spanish pesetas easing and Swedish crowns slipping on larger offerings. Francs and sterling held firm as Paris cables rose to 6.49 percent, with closing rates showing a differential from a week prior and illustrating the premium on dollars against pounds in cross rate mechanics.
Business leaders navigate a shifting market as buyers defer purchases while estimating how far price pendulum may swing. Trade projects appear sound yet timing and supply concerns hinder large orders in a government governed price and tax regime. Dun's Review notes quick adaptation amid war era change yet ongoing caution limits forward plans.
Special correspondence notes government rules allow 10 percent of exceptions under rate advances. Revenue gaps shrink from 110 million to about 160 million. initial 90 million extra projected. Weathering wage increases, reduced shipments and passenger declines may keep net gains modest. The $300 million wage rise total remains anticipated, with possible further advances under discussion.
Russian government external bonds surged in Wall Street trading on cabled reports of the overthrow of the Bolshevik regime. External 5% bonds rose six points to 46 and 6448 issues gained seven to 47, with two days of gains over ten points from recent lows. Ruble bonds quoted at $9% to $96 per 1000 rubles, sales at 96, vs 94 previous close. Russian paper money traded around 14.20 to 14.30 cents per ruble.
Special correspondence from Minneapolis reports Minnesota crop outlook at peak with bankers at state convention predicting the biggest food yield on record if weather stays favorable. Wheat, oats, rye and barley show good conditions. corn likely lower yield due to seed shortages but high quality. South Dakota and North Dakota are also in good shape with moisture adequate in many areas. Montana shows doubts in parts but overall Northwest expected to post large yields. regional prospects vary by county.
A historical financial roundup presents data on banks reserves and currency in circulation, gold holdings, and discount and bill activity. It includes stock averages, food costs, commodity price levels, and the Dow, with notes on production, pig iron, wheat and oats crops, money stock, bank clearings, cotton spindles, and Dun’s commercial failures. Building permits and city figures appear alongside monthly dates and totals for May and April 1918.
The War Savings Society of the Federal Reserve Bank of New York reports full staff enlistment and national production efforts. An open letter from Richmond Levering defends his finances amid Metropolitan Petroleum stock charges, citing the Matchett committee. Sinclair Oil stock price gains amid market decline as rates for shipping in South America ease. Transpacific loan plans tied to Japanese and American bankers may prompt a public securities offering supervised by Japan. A Helena Montana court lifts certain restraints on Minerals Separation Company, relaxing reporting and earnings deposit requirements under the flotation process.
Butte and Superior Mining Company wins restoration of control over its finances and receipts. Federal Judge Bourquin dissolves October 3 1917 order in Minerals Separation case, lifting limits that barred payout of receipts or disposal of assets. Court declares property worth millions now free to operate.
Judge M J Wade in Federal District Court granted a voluntary decree dissolving the Button Combine a group that allegedly controlled prices and output in the U S pearl button industry The decision followed a June 28 filing and marks the end of the organization’s operations in the national attire button market.
A compact financial roundup lists market barometers, stock exchange transactions, and rail and other stock figures. It also shows bond totals and government securities for the period year to date, with railroads, others, and all bonds broken out and summed.
London trading closed quietly with a firm tone as dealers avoided heavy commitments for the three day holiday. Mixed sections showed strength with several stocks rising on bonus distributions while gilt edged issues remained dull due to the new New South Wales loan of £3,000,000. Grand Trunk securities eased amid cautious demand for money at half year end.
E B Bartlett of Gwathmey and Co. bought the season’s first Texas cotton bale yesterday for 1000 dollars. Proceeds over 300 dollars will be donated to the Red Cross. The purchase highlights early market activity and charitable support during the season.
The Commercial Bulletin reports moderate activity in foreign wool markets with little price change as US buyers persist. American fabric demand rises with military needs, yet half of the nation's machinery remains tied to civilian work. A Newark court reserves its decision on appointing a receiver for American Pipe and Construction Company, a million dollar NJ firm with NY Hitchcock connections, insolvent and owning stock in seventeen utility subsidiaries.
The British Parliament considers a statutory body to supervise bank amalgamations and interlocking directors. A Treasury led inquiry warns that consolidations may reduce capital strength and deposit protection, urging government supervision to guard public and depositor interests.
A list of quarterly and semiannual dividend declarations begins with Citizens Traction Company paying 14g per cent on preferred stock July 1 to holders of record June 34. General Motors Corporation declares 3 per cent on common and 6 per cent on preferred, payable July 1 to holders of record May 16. Hamilton Woolen Company approves a 3 per cent semiannual dividend, payable July 10 to holders of record June 28. The Philadelphia & Camden Perry Company issues 8 per cent to stockholders of record June 23, payable July 10. J. B. Stetson Company posts a 4 per cent semiannual dividend on preferred and a 10 per cent subjoined on common, payable July 15 to holders of record June 1. United States Mortgage & Trust Company declares 6 percent, payable June 29 to stockholders of record. Utah Consolidated Copper Company distributes 60 cents a share, payable July 6 to holders of record July 6. Go facta Refining Company announces 19 1/2 percent dividend, payable May 16 to holders of record July. The Mini Copper Company reports a quarterly dividend of 1 1/2 to 2 dollars per share, payable August 15 to stockholders of record August 1. Stocks Ex-Dividend Yesterday Chalmers pr 4289 Te.
George J. Whelan of United Cigar Stores and Tobacco Products Corp reports talks with American Sumatra Tobacco Co about a three firm consolidation. Proposals include a cash 125 a share payout or a new holding company exchange. No agreement yet. legality clear as firms are non competitors. Whelan cites strong outlook with expected earnings over five million dollars for the current year, following a 1917 surplus of 2,073,501 after taxes.
David R. Burbank elected to a five dollar director post at Illinois Central Company succeeding the resigned Charles H. Kam. Walter Goodenough and F. W. Wood elected agents of the American Ski Corporation with Goodenough in charge of ship operations.
We want people to find what they are looking for at NewspaperArchive. We are confident that we have the newspapers that will increase the value of your family history or other historical research. With our 7-day free trial, you can view the documents you find for free.
People find the most success using advanced search. Try plugging in keywords, names, dates, and locations, and get matched with results from the entire collection of newspapers at NewspaperArchive!
You can also successfully find newspapers by these browse options. Explore our archives on your own!
Browse by location and discover newspapers from all across the world.
Browse by date and find publications for a specific day or era.
Browse old newspaper publications to find specific newspapers.