Markets End Week With Record Industrial Stock High
The market absorbed Germany’s peace actions with a late week rise led by industrials to 109.27, a yearly high, while railroad shares lagged. Money rates fluctuated but fell near Friday, signaling bank reserve shifts ahead of July 1 disbursements totaling about 14.0 million dollars. Banks faced liquidity pressures as funds drained to meet maturing certificates and loan obligations.
MENTIONED IN THIS ARTICLE
Stock Exchange
Germany
Government borrowing and European financing pressures grow
The notice notes rising certificates of indebtedness and possible extra borrowing by the government to cover new expenses. It adds that European financing is difficult to gauge but unlikely to be small, while borrowing by business has been steadily increasing.
Market Opinions See Bullish Western Banks and July Rise
Western banks remain bullish in stock markets with expectations of higher prices in July or August if no restrictive measures appear. Money supply is tighter now, but many Westerners finance own stock commitments. Banks key to NYSE collateral, lending rates reflect cautious optimism. big holders not selling heavily, most declines from pools and small holders, loan demand indicating stable outlook. Commodity prices trend inward, signaling broad industry prosperity.
MENTIONED IN THIS ARTICLE
New York Stock Exchange
Wagner & Co
Goodbody & Co
Market Barometers Rail Other Stock Figures and Bonds
Market barometer figures for railroads industrials and utilities show weekly and year to date totals for stocks bonds and savings bank activity. Highlights include year ago comparisons and weekly highs and lows as well as a note on Harrison becoming manager of the New York Savings Banks Association.
Texas Oil Lease Frenzy Sweeps Wide Texas Districts
Report from Texas shows wild speculation in oil leases with funds from across the country. Prices climb as investors pay 19 to 50 dollars per acre and even up to 100 dollars where test wells near leases loom. Improved weather and rising car traffic boost activity as buyers rush to secure rights amid eager demand.
MENTIONED IN THIS ARTICLE
Austin
Sieason
Texas
Enor Mets
Harpons
Texas Company Brings In New High Grade Oil Producer
In Shelbyville Texas, a Texas Company brought in a two mile east well that yielded about 400 barrels a day. The discovery has attracted thousands of dollars in speculative investments from operators and investors across the region. The new field lies roughly twenty miles from the Louisiana border and about sixty miles from the Caddo oil fields, with oil reported as unusually high grade.
MENTIONED IN THIS ARTICLE
Perial
Shelbyville
Tex
Texas Company
Herw
Pele
Shelbyvitty
Pease Row
Lack of Shipping Facilities Retards Work in Mexico
New York Tribune reports from Monterey Mexico that despite active drilling in the Tampico oil fields production shows high daily flow per well though transport and storage limits curb overall output. The report cites a lack of pipelines and shipping capacity as the major obstacle, with a planned 18,000 ton tanker to boost exports and a national need of about 1.041 billion dollars to complete development.
MENTIONED IN THIS ARTICLE
New York Tribune Financial Burea
Monterey
Mexico
Department of Commerce and Industry
Tampico
Juinder Construction
Bingliast
Federal District
Aguascalientes
Ttia
Amon
Gushers Raise Hope in Oklahoma Field
Sulsa Oklahoma report notes revived activity as Golden Oil and Gas pays 1 250 an acre for 160 acres offsetting a new well while discovery reserves hint at flowing wells near Cushing. Oil storage declines to about 19 5 million barrels with daily output around 40 000 barrels from Dilton Drumright and Shamrock districts and pipelines show a 100 000 barrel weekly excess of losses.
MENTIONED IN THIS ARTICLE
Oklahoma
Kansas
Texas
Cushing
Golden Oil and Gas Company
Sulsa
Okla
Dilton
Drumright
Shamrock
Beggs Oil Revival Near Oklahoma Town
Beggs reports a revival in oil interest as the Ross and Well No 2 on Bell farm yields 9 600 barrels of oil from sand near foot. Blackwell Fe 1. produced over 600 barrels from sand at 0 feet, more than a mile from production. Acreage offsetting this property sold to Iron Mountain Oil Company for 1000 per acre.
MENTIONED IN THIS ARTICLE
Burra
Beggs
Oklahoma
Ross and Or Wella Aga
Bell Farm
Blackwell
Iron Mountain Oil Company
Week's Transactions on the New York Stock Exchange
A table outlines estentist details of this week’s NYSE transactions with high and low prices for the year. Quotations are in dollars per share based on last regular declaration, focusing on trades of 10 shares or more. The annual dividend rate is listed in dollars per share. Continued on following page.
MENTIONED IN THIS ARTICLE
York Stock Exchange
Compa
Fexas Storage Tanks Not All Overflowing With Oil
Austin June reports filed with the oil division show 7 401 barrels of crude in storage on June 1 with room for more. Despite unfilled storage in some fields the demand for additional storage tanks in Burkburnett and other Central West Texas fields is urgent.
MENTIONED IN THIS ARTICLE
Corresuurilisne
Austin
Tex
The
State Railroad Co Jon
Burkburnett
Central West Texas
New French American Banking Corp Opens in William Street
A new institution named for foreign trade opens as part of a trio of banks forming the French American Banking Corporation. Backed by First National of Boston, National Bank of Commerce New York, and Comptoir Navional et Escompte Paris, it lists 2,000,000 capital and a 600,000 surplus. Maurice Silvester leads as president with Abbot Goodhe, John Rovensky as vice presidents, Roger Kayalagh as treasurer, and Thomas Green as secretary. Harding succeeds Cone in the Anglo South American Bank after his prior sub agent role.
MENTIONED IN THIS ARTICLE
New Foregn Trade Bank
Silvester
French American Banking Corporation
William Street
National Bank of Boston
National Bank of Commerce
New York
Comptoir Navionat Wescompte
Paris
Maurice Silvester
F. Abbot Goodhe
John E Rovensky
Roger Kayallagh
Thomas JM. Green
Also Mentioned on This Page
National City Company
Uptown
Omnk Building
Rd St
IR. Bridgeford & Co
Broadway
Rector
J.K. Rice, Jr. & Co
Steamboard
Vie Het Machine Ward Baking
Tice
drcCo
Will Sellan Chicle
Nieltentueta Atlas Portland Cement
Gourantes
Western Coal Fire Insurance
Strc Co
Shaffer Oil & Refining
Bromdeny
Li M.byllesby
Ike
Swift & Co
Shippee & Rawson
Ine, Kona
Hon
Dobn
Virtue Purdy & CO
Fine St
Becaus Stoc
Federal Reserve
Akrouneemes
Nurann Tates Grain Corporation
Banke
Wall Street
Lamborn & Co
BAER
Industr’ls
Industr'ls
Nei
Shaffer Oil and Refining Company
Arthur S. Huey, Esq
Standard Gas and Electric Company
Shaffer Oil & Refining Company
Huey
Bonbright & Co. Incorporated
H. M. Byllesby & Co
Steck, Salen
Adams Fapresic
Masha Goll Mines
Allis Chalmers
Dan
Athy
Bosch Magneta
Car & Bay. Co
Fexas
Harding
Cone
Anglo-South American Bank
Frederick ©. Harding
Anglo-South American
United Retail Stores Corporation
Bamberger, Loeb & Co
Broad Street
Standard Oil Investors
Carl H.pforz
Washington
White Eagle Oil
Fanning,Buck&Co
Exchange Place
Central Reserve City Bank
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