Bankers Back General Motors in New Financing Rally
New York June 3. The market saw another rise then a relapse as trading remained slow. Bankers' support for General Motors through Morgan First National Bank Bankers' Trust boosted the motor group, with a $646.6 million stock sale funds aimed at expanding working capital and firm growth though gains did not hold through close.
MENTIONED IN THIS ARTICLE
Tractions
Mac
Philadelphia
Pittsburgh
Philadelphia Company
General Motors
Morgan First National Bank Bankers’ Trust
W. C. Durant
Gut‘ide
du Pont-Durant
New York Exchange Reports Curb Rights Trading and Oil Stocks
Initial curb trading in General Motors stock rights shows about 20 000 shares at 14 to 1. General Asphalt rises from 63 1/2 to 68 1/2 while Houston Oil moves to 78. Simms Petroleum steady. At the stockholders meeting Edward T. Moore elected director and to president, relieving A F Simms from daily management. Gum Cover Oil Refining resumes dividends 2 percent plus 2 percent extra payable June 20. Ryan Consolidated Oil slips to 34. White Oil firm at 22. Texas Pacific Coal and Oil up to 39 1/2. Submarine Boat active on expected favorable takeover bill. Aetna Explosives quoted 6 1/2 to 9. Oil quotations note runs and ship ments for June 1.
MENTIONED IN THIS ARTICLE
Washington Post
New York
General Motors
General Asphalt
Houston Oil
Simms Petroleum
Edward T. Moore
Stone “& Webster
Dallas
Tex
A F. Simms
Gum Cover Oil Refining Co
Ryan Consolidated Oil
White
Texas Pacific Coal and Oil
Aetna Bexplosves
W. B. Hibbs & Co
Crescent Pipe Jones Co
Aetna Explosives
Seenee Cumberland
Allied
Eureka Pipe
lena-Big. Oil Co
Atlantic Petroleum
Galena-Sig. Oil Co
Belcher Divide
Illinois, Pye Line Co
Illinois, Pye Line Co. Poss
Belcher
Indiana Pe Line Co
Big Ledge Ee Secereional Ranait Co
Boonett
Sit
Re Transportation
C A
Boston
Northern Pipe Line Co
Boston and Ship Oil Co
Caledonia
Prairie Oil
Calumet
Prairie Pipe Line Co
Canade Copper
Gtdee
Southern Es Tpe Line Co
Ing Co
South Penn
Oil Co
Arvice New
Rm Penn
Standard Oil Co
Oi Co
Ind
Colonial Tiretandard
Cbgne
Cosden , Co
Ashe
N.Y
Bee
Ohio
Gregson
Swan Fine
Curtigs
Aero
Union Tank Line
Davis Daly
Dominion OL
Washington
Elk Basin
Emerson Atlag
Ertelon
Atlas Ptaty Federal
Dupont
General As
Pont Det
Gilliland
Wee Gutey-Gilteapie
Glenrock
Howe Sound
Mies
Intercontinental Rubber
Internati
Petroigane
Steeeee
Invincible
Jerome Vere
Amho
Lake Torpedo
Ima Loco
Agmna
Libby
Natonal
Swift & ‘A
Union Carbide
Wahl Tgei Be Ain Ae Oe
Anglo-Am
Loew
Borne-Scrymsger Co
Buckeye Pipe Line
Chesebrough Mfg
Continental Gas Cache
Las
New York Money Market Update June 3 Market Rates
New York mercantile paper with 7 percent exchange and weak sterling shows 60 day bills at 3.87144 percent. Commercial 60 day bills on banks 3.974 percent and 3.87 percent. demand 3.92. cables 3.92. Francs demand 13.07. cables 13.66. Belgian francs demand 12.37. cables 12.35. Guilders demand 3.65. cables 3.67. Lire demand 17.02. cables 17.06. Marks demand 2.26. cables 2.27. New York exchange on Montreal 11. discount. Government bonds heavy. railroad bonds irregular. CaN money firm high 6. low 6. ruling rate 6. closing bid 6. Bank accepts at 6. Sterling weakened late in the deal 60 day bills 2.87. commercial 60 day bills 3.87. demand 3.81. cables 3.92. Silver 994. Mexican dollars.
MENTIONED IN THIS ARTICLE
New York
Mercantile Paper
New York Exchange
Montreal
Sterling
Bonds Active as Prices Wobble in Market Report
Washington Post special from New York on June 3 notes bonds showing moderate activity and irregularity with foreign issues firm while Liberty bonds fall. It cites St Paul lines and New York exchanges, call money, and gold movements including Bank of England reserves and Argentine withdrawals.
MENTIONED IN THIS ARTICLE
Washington Post
New York
St. Paul Bonds
New York Grain Prices Across Wheat Corn and Oats
Spot wheat unsettled with No 2 red and No 2 hard at 3.12 and No 2 mixed durum at 3.05 per bushel for New York export. Corn spot firm with No 2 yellow at 2.14 and No 2 yellow at 2.11 for 10 day shipment. Oats spot steady with No 1 white at 1.33 to 1.35 per bushel.
MENTIONED IN THIS ARTICLE
New York
Chicago Grain and Provisions Market Summary
Chicago grain prices rose early on traffic troubles but ended mixed as July corn slipped to about 1.73 and September near 1.60. Oats were little changed, while provisions showed varied moves. New York butter and eggs held firm with steady cheese and fluctuating poultry and sugar values.
Philadelphia Markets Reportable Grain Prices
Philadelphia markets show oats and butter price spreads with No 2 yellow corn cited at 2.05 to 2.08 per unit. Oats list No 2 white 1.28, No 3 white 1.25 to 1.26. Butter prices vary by grade with Western creamery extras at 57 and nearby prints around 43 to 55. Other articles unchanged.
MENTIONED IN THIS ARTICLE
Philadelphia
Jundé
Investment Record Without Laws Prompts Investor Concerns
A reader notes ongoing issues about investment security and regulatory gaps. The message cites Swartzell Rheem and Hensey Co at 727 Fifteenth Street NW as part of a discussion on the need for legal frameworks to protect long term investments.
MENTIONED IN THIS ARTICLE
Fifteenth Street
N. W
Swartzell, Rheem & Hensey Co
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Armour & Co
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Moy T
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