Sharp Drop in Stocks Pressure on Steel Common
New York January 18 stock market declines exceeded any day this week or year with widespread selling and liquidation. Amalgamated Copper, Union Pacific, Southern Pacific and United States Steel common fell sharply while trading surpassed 1.3 million shares amid bear-driven weakness. The market showeed heavy pressure on Steel shares as dividend expectations faded and speculation shifted to financing new plants, with money rates drifting lower and bonds inching down in response.
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Washington Post
New York
Union Pacific
Southern Pacific
Atchison Common
Reading
St. Paul
Northern Pacific
Great Northern
Pennsylvania
United States Steel Common
Canadian Pacific
Amalgamated Copper Company
Lkely
United States Steel Corporation
Wall Street
Amalgamated Copper
Steel Corporation
Gary
London
Bank of England
Fox
Bear
Associated Press
United States Steel
Port Arthur
Bank Clearings and Market Wrap of London Copper and Wheat
London tin and copper prices edged down while the local market held steady amid a broad decline. London iron and spelter moved lower, flour and grain futures showed firming tones in New York with mixed receipts and exports. Sugar and butter held steady, eggs firm, cheese active, as agricultural and metal markets shift in early 20th century trading.
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New York
London
Pol
Standard Foundry
Cleveland
Northern
Fouthern
Bonthorn
Baltimore
Wall Street Gossip Tracks Rail Loan Rumors
Special to The Washington Post from New York on January 18 describes continued heavy trading in Union Pacific amid talk of new notes and funding to cover securities acquired since June 30, 196. Delaware and Hudson and New York Central also draw rumor mill attention as market noise aims to depress prices. Brokers note aggressive decline efforts by Western capitalists, while railroads plan capital mainly for expanded facilities due to higher business volumes. Money remains ample with banks projecting an upward weekly currency movement and sub 5.5 percent short-term loans for industrial collateral.
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E. R. Chapman & Co
G. B. Chipman
New York Stock Exchange
American ‘Tobacco
American Tobacco
Atchison General
Atchison Adjustment
Atlantic Coast Line
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Ohio
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S. Seely
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Pacife HH
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Washington Stock Exchange
New York Cotton Market Slumps Then Steady At Close
The New York cotton market opened barely steady with a 26 point decline, fell about 58 points on active months, aided by Liverpool cables and large receipts, then recovered in the middle session as shorts covered. By close, values were within a few points of the best, with heavy export demand nearing record levels for the period.
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W. B. Hibbs & Co
New York Stock Exchange
Washington
Board of Trade
New York
Jag
Iverpool
Georgia
Alabama
Pennsy to Acquire Philadelphia and Erie Stock
Philadelphia January meeting of the Philadelphia and Erie Railroad board votes to turn control to the Pennsylvania Railroad in exchange for stock holdings. Pennsylvania Railroad already holds a majority and operates the line. Erie stockholders vote February 11. Piles cured in 6 to 14 days by Paro Ointment. 50c.
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Philadelphia and Erie Railroad Company
Pennsylvania Railroad Company
Pennsylvania Railroad
Philadelphia and Erie Company
Pennsylvania
The
Erie Company
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