Fed boosts bank reserve requirements to curb inflation
The Federal Reserve increased reserve ratios for large banks to 27 percent and small banks to 12.5 percent, narrowing money sending capacity by about 550 million dollars. Bank leaders and economists debated policy impact while Commerce predicts a 1968 prosperity wave and a growing GNP near 844.5 billion. The November trade surplus widened as exports rose faster than imports.
MENTIONED IN THIS ARTICLE
Jack Lofler
New York
Federal Reserve Board
U. S
Congress
Federal Reserve
U.S
Rudolph A. Peterson
Bank of America
San Francisco
United States
Paul Volcker
Chase Manhattan Bank
Alexander B. Trowbridge
Gerhard Colm
National Planning Association
Commerce Department
Yearend rally lifts market to near historic volume
The New York Stock Exchange posted its second highest volume in history on the final trading day of 1967 amid a week of brisk trading. The Dow climbed 17.74 to 905.11 as investors welcomed strong business statistics and favorable economic forecasts. Friday's NYSE volume reached 14.95 million shares, with the week totaling 29.32 million and the American Stock Exchange also showing heavy activity.
MENTIONED IN THIS ARTICLE
Jack Leiter
New York (Ap
New York Stock Exchange
Secretary of Commerce
Alexander Trowbridge
New York Exchange
Associated Press
Apt
New York
Muriel F
Sats Siebert
Stock Exchange
Siebert
Sap
Leo
Beals
Miss Siebert
Maar
Brimberg & Co
BBC
Broad St. Lent
Ceca
Ion
Fas
Tiss
Seah
Bank sees tax raise as help for 1968 economy
Morgan Guaranty Trust says a 1968 tax hike might help stabilize the economy if other factors such as tighter money and higher interest rates are present. The bank notes the proposal could be less effective this year but argues a measured increase could balance public and private sectors and support longer term growth.
MENTIONED IN THIS ARTICLE
H. Erich Heinemann
New York Times
Morgan Guaranty Trust Company
Morgen Guaranty Survey
Johns
Morgan Esman
Morgan
Wall Street
Bond market ends year on quiet steady note
Bond market remained quiet and steady through the holiday week. The Federal Reserve Board raised bank reserve requirements mid week with little early reaction. Long term government bonds finished about two points above November lows, intermediates about one point above their 1967 lows. Corporate bonds rose slightly, with totals under the January calendar reaching about 750 million. Municipal bonds declined and closed near 1967 lows.
MENTIONED IN THIS ARTICLE
New York
Federal Reserve Board
Salomon Brothers & Hutzier
Wall Street
Ticker service rates to be cut by 20 percent
New York Stock Exchange treks toward lower pricing with a nationwide flat rate for ticker services. The cut reduces monthly charges about 20 percent and shifts to a nonprof it mutualized system. Prices drop for tickers, displays, and demand data devices, with simplified bookkeeping and lower per unit fees for multiple installations and desktops.
MENTIONED IN THIS ARTICLE
New York Stock Exchange
Exchange
New York
Du Quoin Livestock Market Mixed Week of Trading Report
Moderate activity at Du Quoin market for week ending Friday with hogs up about 25 cents per hundredweight. Top hog closing price 16.75. steers at Gypsy Hill Farms 21 to 24 dollars, heifers 19 to 22. canning and cutter cows 11 to 15. Shelled corn 1.15 per bushel. Chicago yard prices shown for hogs, slaughter steers and heifers, cows, bulls, and sheep with varied lot weights and quality grades.
MENTIONED IN THIS ARTICLE
du Quoin
Gypsy Hill
Chicago
Sears
Liquidation trims grain on Chicago Board of Trade
End of year tax liquidation weighed on soybeans and grain futures on the Chicago Board of Trade. Trade was light and mostly local with three of four sessions showing lower prices. Wheat, corn, oats, rye, and soybeans all declined, while soybean oil and meal moved variably. Corn rose briefly on colder weather and a government report indicating two thirds of Indiana and Ohio corn harvest finished.
MENTIONED IN THIS ARTICLE
Chicago
Chicago Board of Trade
Indiana
Ohio
Also Mentioned on This Page
Bond Market
Tae
FMA
Industris Poce Reverce
Thurs
Dow Jones
Agor
Arc
Waban
Rish Ae
Terry Robards
New York Times News Service
U.S. Securities
Treasury Bonds
Treasury
Uinolsen
Bic
AV Electronics
Arkansas Valley
Cockenour
Empire Pel
Epsco
Farrington
Heath A
Marna White
Bossis
Mms
Safeguard
Sendgate
Siscoe _AAlning
Scholz
Texas Amer
Tllinois Savings and Loan Association
Murphysboro
L. M. Simon & Co
Charles J. Lerner
SONDS
West Main Street
Charles Dehanich
Curtis F. Downen
Carbondale, Illinois
Pan Am
Corp
Bank of Hovis
Jen
Thson
THE
Carterville State & Savings Bank
FDIC
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