Collapse of Canadian speculative boom rocks markets
The Ames & Co Toronto failure signals the end of a wild Canadian stock surge. New York traders see heavy losses in Boston, with Canadian Pacific and related securities at the center. Rockefeller and Standard Oil interests are blamed for holding the bag as reorganization of the United States Ship Building Company unfolds and market dynamics show signs of eventual recovery.
MENTIONED IN THIS ARTICLE
Indianapolis Journal
New York
Ames & Co
Toronto
Canada
Ames
Wall Street
Boston
Dominion
Canadian Pacific
Seashares
Twin City Rapid Transit
Sloss- Sheffield
Tennessee Coal and Iron
Brooklyn Rapid Transit
Thomas Lowry
Lowry
Twin City
Lowry-Ames
United States Ship Building Company
Combine
Reublic
New York Evening Post
Charles M. Schwab
Schwab
Bethlehem Steel Company
Bethleem Steel Company
Europe
New Stock on Market Securities of J Reeves & Co Listed
An issue of New stock, 750000 total with 500000 sold, is offered at 105. Union Trust Company and J F Wild & Co. sell 400000 of J Reeves & Co. preferred stock, Columbus Indiana, threshing machines and sawmills. It pays 6 percent and is redeemable after May 25 1928 at par, or after May 15 1928 at 106. The day saw few other transactions on the local exchange.
MENTIONED IN THIS ARTICLE
Local Stock Exchange
Indiana
Union Trust Company
J. F. Wild & Co
J. Reeves & Co. Incorporated
Columbus
Ind
Union National Bank
Security Trust Co
Union Traction
Sone
Security Trust
Motorman Misfortune Spurs a Western Railroad Rise
A man left behind by a trolley motorman becomes inspired to buy a railroad. He earns capital, gains majority stock, and serves as president within five years, proving fortune favors hard work over luck. The tale notes the former motorman is kept on and later resumes duties.
MENTIONED IN THIS ARTICLE
New York Sun
Mr. Gozzleton
Moetorman
Western coal market review signals tightening anthracite stock pressure
The Black Diamond reports Western coal traders facing stronger pressure to deliver anthracite while bituminous markets stay weak and Eastern smokeless coals hold firm. Dealers expect a market turnaround near mid month with rising demand in September and October, potentially stabilizing prices after recent declines.
MENTIONED IN THIS ARTICLE
Chicago
The
Black Diamond
West
Great Lakes
Operie Crs
Women on ferry deck brave cold harbor wind
Two young women on an East River ferry described the upper deck as cold and damp. One joked about her hair not staying put in the chilly wind as they faced the harbor weather.
MENTIONED IN THIS ARTICLE
Washington Post
New York Evening Post
Wall Street Weekends Mixed as Bank Reserve Shrinks
The New York stock market faced ongoing liquidation with bank statements showing a substantial cash reserve decline. Anxiety rose over loan repayments, gold exports, and potential further contractions while time money rates rose and industrials faltered.
Stock market and money market brief from Indianapolis to London
Commercial paper in Indianapolis rates 4 to 6 percent with time loans. New York call money nominal, time money 4 to 5 percent. Sterling exchange steady with demand at 4.87 85. London silver and Berlin and Paris rates listed. New York imports valued at 9.18 million with 248,599 silver and 6.04 million gold. Treasury available cash balance 225.27 million. gold reserve 2.02 billion.
MENTIONED IN THIS ARTICLE
Indianapolis
New York
Prime Mercantile
Sterling Exchange
Washington
Treasury
General Fund
Market rally follows steady London tone on June 6
New York stocks opened with small declines in Canadian Pacific B&O and U S Steel but built a rally led by St Paul as room traders and bear cover boosted prices. Canadian Pacific showed strength on foreign buying while the weekly bank statement suggested liquidation. gold shipments from the Yukon may bolster reserves.
MENTIONED IN THIS ARTICLE
New York
Pennsylvania
Amalgamated
Wall Street
Board of Conciliation
Commission
United States
Canadian Pacific
Yukon
A. R. Thompson & Co
Weekly Bank Statement Shows Sharp Cash Decrease
New York weekly bank statement reports a large drop in cash holdings among clearing-house banks. The figures show declines in loans deposits and circulation with a notable cash decrease of 3,483,700 amid shifting money movements and revised estimates.
MENTIONED IN THIS ARTICLE
Sheree
Haveen
Morpine Oe
New York
New York Associated Banks
The Clock Tinker Visits Brier Dale Village
A tall gray man calling himself a tinker arrives in Brier Dale. He trades tales of horses and prayers while offering to repair a clock and with charm inspires Allen Trove and the others. The stranger chooses a fine filly for Trove and tests trust with a vow that God will remember his master.
MENTIONED IN THIS ARTICLE
Darrel
Blessed Islea
Brier Dale
Allen
Trove
Grasaira
Zrove
Alten
Emy
Hamlet
Macbeth
Richard
Lear
Anthony
Desert
Allah
Isaiah
She Bor
Phyllis
Ang
The Canon's Legacy Mystery Unfolds Near Nice
An elderly French canon left nearly a million dollars to Mme Toselli in the United States. Relatives led by Henri Cauvin seek to invalidate the will claiming Mme Toselli influenced the canon. The case sparked a sensational serial in the press titled The Canon's Legacy.
MENTIONED IN THIS ARTICLE
Nice
Canor Cauvin
United States
Mme. Toselli
Henri Cauvin
Mme. Torelli
Legatar
Torelli
Mme. Tusel
M. the
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American National Bank
Indiana Trust Co
Union Traction of
City of Indianapolis
Newton Todd
Sse
Fletcher Bank
SIAPE
A. Fletcher & CO
Safe Deposit Vault
East Washington Street
Boliceman
John S. Tarrington
Consumers’ Gas Trust
Guar. and Loan Co
New Telephone Co
Indianapolis Street
Union Traction Co
Indianapolis Traction
Marion Trust Co
Thomson
Chicago Board of Trade 2
and & Ingalls Bpiocck
Saks Corner
Arrick & CO. Lombard Building
W. W. Dark
E. H. Dark
W. W. Dark & CO
East Market Street
Commercial Trust Co
Atlas Engine Co
Albert R. Thompson & Co
Lombard Building
Williams & CQ
Iris
Cnr
Bertha
Tecumseh
Wall-Street
Standard
Rockefeller
United States Shipbuilding Company
Standard O's
John D. Rockefeller
St Paul
Standard Oil Crowd
Standard Oil
St. Paul
Yaoike
Rockefellers
New York Central
William K. Vanderbilt
James R. Keene
Naa
W. G. Nicholas
J. Reeves & CO
Alas Engine Works
Belt Railroad Common
Belt Railroad
Brown-Ketcham Iron Works
Pe Capital National Bank
Central Trust Climax Coffee
Columbia National Ban
Consumers’ Gas Trust Co
Delaware & Madison Co
Timoteset
Indiana Hotel Company
Indiana Mfg. Co
Indiana National Bank
Indianapolis Gas, Company
Indianapolis Street Railway
Western Coal Trade
Atchison
Baltimore
Chicago & Alton
Colorado Southern
Col. South
Cal
South
Seco Bret
Del
Lack. & Western
Denver
R. G
K. Ce
Erie & Western
Louisville
Manhattan
Exican Central
Minn
Tree Pacific
Kan
Texas
Ay A M
Cer & Western
Ontario
Stref
Leet
Albert R. Thompson
Ing
American Can
Esoe
SM American Can
National Biscuit
Swift & Co
United Box Board
Yee
Ings
London
Paris
Berlin
Treasury Statement
W. J. Holliday & Co
Bs Southern Railway
Wheeling & Lake Wabash
Wis
Central
Adams
Anacon ‘Ia Mining Co
Brooklyn
General Electric
Laclede National Biscu
Pacific Coast Pacific Mail
Epublic Steel
Tenn
and Paper Co. Ord Aoe Union Oh
DEOL + tees wees sess
As & Eesiner
Western Union
Steel
U. S