Philadelphia Stock Market Narrow Close After Bank Failure
The Seventh National Bank of New York's unexpected closing did not spark panic in Philadelphia stocks. Declines were limited to arbitrage issues with Pennsylvania Railroad, Reading, and United States Steel slipping briefly but nearly recovering by close. Rumors of coal trade developments and May earnings buoyed sentiment, while by laws delayed dividend timing for the steel group remained a question.
MENTIONED IN THIS ARTICLE
Seventh National Bank of New York
New York
Pennsylvania Railroad
Reading Common
United States Steel Common
Preferred
Philadelphia
Steel
Cambrias
Ccambria
Pennsylvania Steel Companies
Philadelphia and Erie
Washington
Venezuela
Union
Messrs. Widener
Elkins
George D. Widener
Stock Exchange Notes and Market Movements Today
A.O. Blaughter Jr joins the New York Stock Exchange. Harriman brokers bought stocks tied to the syndicate, and the Treasury bought 200000 short term bonds. Adams Express stock traded at 175 in a first on record. New York float totals include government receipts and various expenditures as markets show mixed signals.
MENTIONED IN THIS ARTICLE
The
New York Stock Exchange
Adams Express Company
Local Stock Exchange
Wall Street Gossip Shapes Midday Trading Trends
Philadelphia reports Norfork and Western as sellers, Erie bonds heavily held by German investors, and International Power set to declare a July dividend. Rumors swirl on Pennsylvania Railroad and Brooklyn Rapid Transit, while H C Frick may join Tennessee Coal and Iron as director. London markets show heavy selling as arbitrage brokers dump shares.
Baltimore Stock Market Quieted by Lower Volume
The June 27 market in Baltimore showed limited price drops amid reduced trading volume, with minor declines and some fractional movements toward recovery. Money on call stood around 4 to 25 percent, and total transactions reached 4,043 shares of stock and 173,000 dollars in bonds.
MENTIONED IN THIS ARTICLE
Philadelphia Times
Baltimore
New York
Chicago Stocks Steady as Tin Can Focus Dominates
Chicago June 27 report shows no notable market change with small volume and narrow price moves. Tin Can stocks attract most trading interest though limited action. call and time loan rates held at 5 percent and New York exchange adds a 30 cent premium.
MENTIONED IN THIS ARTICLE
Philadelphia Times
Chicago
New York Exchange
Boston Stocks Steady as Copper Range and Ad Venture Lead
Boston June 27 market quiet and steady with copper range and Ad venture topping the mining group. Overall trading dull and narrow, no notable features beyond constancy.
MENTIONED IN THIS ARTICLE
Boston
Copper
Adventure
New York Stock Market and Bond Transactions Report
The New York market shows unsettled stocks with declines in several issues and advances in others led by American Smelting and International Paper. Bond activity includes Wabash debentures and Union Pacific notes with mixed changes. collateral loan rate around 3 to 5 percent, and three to six percent for other instruments.
MENTIONED IN THIS ARTICLE
D. M
Ft. D
National Bisquite
North American
Colonis. Chic. & Northw
Den
Rio Gr
Ig . E Pf
American Lins
Chiews St
Lou
Ty Co
Consolidated Gas
International Power
Pullman Place
Wabash Deb
Wheel
L. EB
R. c
New York Stock Closing Prices Report
Closing bid and asked prices on the previous session and the day before are listed for all major stocks. Total sales reach 664,950 shares as market activity continues to shift with ongoing fluctuations in demand and pricing.
MENTIONED IN THIS ARTICLE
Yeaterday
New York Times Review of Stock Market Tension
The Times predicts tomorrow’s issue will note the Seventh National Bank suspension and a 15 percent call money rise as troubling signs. Despite declines, Wall Street’s support and recovery power kept losses from deepening, with buyers from Morgan, Vanderbilt, and Standard Oil firms shaping activity amid heavy shorts.
Sun's Market Review on Seventh National Bank Suspension
The Sun reports the suspension of the Seventh National Bank after a NY clearinghouse decision. Competition from London selling and weak collateral drove declines across major shares. St Paul and Manhattan Railway fell, while the cotton market rebounded after initial weakness.
Stock volatility as Seventh National Bank suspends trading
News from New York reports a lively bout of selling after the Seventh National Bank suspended operations. The brief market wobble emerged as investors reassessed risk and liquidity while financial observers watched for official statements and wider impact.
Market Rebound After Heavy Decline In Principal Stocks
A sharp downturn stemming from Comptroller of the Currency actions hit stocks like St Paul Union Pacific and Manhattan, dropping over 8 points. Late-day recovery erased most losses with gains in leading issues though Union Pacific St Paul and Metropolitan Street Railway lagged. Bears drove the selling while cover buying aided the rally. London selling from Berlin influenced sentiment and the Seventh National Bank suspension surprised observers.
MENTIONED IN THIS ARTICLE
Philadelphia Times
New York
the Sun
Seventh National Bank
Clearing House
New York Associated Banks
London
Stock Exchange
Berlin
Germany
Suspec
St. Paul
Manhattan Railway
Clearing House Association
Union Pacific
Manhattan
Missouri Pacific
Texas
St. Paul and Metropolitan Street Railway
Beare
Market closes quiet as bonds and stocks move
The market ends dull but firm at the recovery. Some railroad bonds sell in sympathy with stocks while mortgage issues rise. Total sales amount to par value of $2,025,000. United States bonds stay unchanged on the last call.
MENTIONED IN THIS ARTICLE
United States
Outside securities market shows light demand and steady tone
The New York market for outside securities opened with light demand and little selling pressure. Prices drifted fractionally lower then steadied. American Can common moved between 26 and 26 1 2, and American Locomotive stock rose to 32 1 2 with preferred at 88. Rubber Tire preferred gained 2, and other issues like Standard Oil and tobacco bonds held near prior levels.
MENTIONED IN THIS ARTICLE
New York
Tennessee
Louis Street
Beliwey
Standard Oil
Sa Rubber Tire
Detroit
United States
New York Call Loan Rates Jump to 16 Percent
In New York the call loan market surged with rates reaching 16 percent as banks hold funds and brokers tied to Standard Oil interests faced higher costs. Major loans moved rapidly with Kuhn, Loeb & Co. supplying 3 million dollars and others offering similar size deals at about seven percent cash. Frothing loaned 5 million at six percent before rates spiked.
MENTIONED IN THIS ARTICLE
New York
Kuhn, Loeb & Co
H. P. Frothim
Unlisted securities closing quotations compiled by NYT
The New York Times presents closing quotations of unlisted securities in an industry roundup. This special compilation aggregates price indications, market movements, and notable shifts observed by the paper's financial editors.
MENTIONED IN THIS ARTICLE
Philadelphia Times
New York Times
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