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Newspaper
Washington Post
Location
Washington, Washington Dc, United States of America
Date
Jun 11, 1919
Page
2
A volatile session sees early gains in metals extend to new highs while debentures and Royal Dutch mix with a sharp midday break. US Steel reports low unfilled orders, Missouri Pacific declares a partial dividend, and a new United Retail Stores Corp plans foreign expansion, boosting related equities.
Special to The Washington Post reports a new listing United Retail Stores Corporation trading at 74 to 78 14 amid heavy interest. Organized yesterday in Wilmington Delaware with 100000 shares of preferred and 1260900 of common, the firm plans a global chain of retail outlets for diverse goods led by United Cigar Stores. Directors include James B. Duke George J Whelan and W R Perkins. George J Whelan elected president. The plan envisions identifying with major chain systems across the United States South America and Europe for tobacco confectionery groceries clothing and other commodities.
June 10 in OW City reports credit balances at 4 dollars, runs 120 seven average, total 95 823 shipments 87 295 average 42 460. Data highlights include maritime and financial figures for the period with several strong indicators across categories.
New York copper and tin prices move through spot and futures. Copper electrolytic, spot and June trades show firm activity with July and August at 174. London copper spot quoted at £80 12s 0d, electrolytic spot £32 0s 0d. Tin spot and futures around £230 17s 0d. lead and spelter also quoted with futures activity.
Market observations discuss low money still at $4, firm call rates, and limited bank acceptances. Gold and foreign exchange shift with embargos lifted, copper stock gains, and steel orders eyed. Supreme Court adjournment bets unsettled cases while railroad cuts signal broader economy restraint. Investor sentiment notes rising share ownership and anticipated company disclosures through July and annual meetings.
Steel shares rose about 30 percent, with other firms like Swift, United Fruit, United Shoe, Rubber, Beet Sugar, A I, A Sugar, A T and A Woolen also posting gains. Baldwin and Food Products, once distillers, and Marine stockholders saw declines in year shareholders reduced overall.
New York June 10 crude oil quoted at 21.00 to time summer yellow spot 2 month 25.00 September 26.50 for cottonseed oil market notes.
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