Market Advances at New York Stock Exchange Leaders and Rates
The New York Stock Exchange saw material advances as short interests covered and buying rose. Norfolk and Western led gains with others like United States Steel and American Telephone and Telegraph up about a point. The British pound closed strong at 3.694 dollars with closing quotes for major stocks including Allied Chem Dye 53 1 2, U S Steel 30 1 2, General Motors 10, and Chrysler 74 1 4.
MENTIONED IN THIS ARTICLE
New York Stock Exchange
Norfolk and Western Railroad
United States Steel
American Telephone and Telegraph
American Can
Allied Chemical and Dyeing
Allied Chem. & Dye
Amer
Tel
Tobacco
Anaconda Copper
Balto. & Ohio
Bethlehem Steel
Chrysler
Gen'l Miodele
Gen’l. Motors
Kennecot Oo
Licrlard
Mont. Ward
Nat'l. Biscuit
Packard
Stand
the Stand Oil
N. J
Texas Corp
U. S. Steel
Woolworth
Chicago Grain Closing Prices on New York and Chicago Exchanges
Grain prices moved lower on the Chicago Board of Trade as speculators sold across pits. Some short covering late in trading raised prices slightly with July and September futures showing mixed fractional gains.
MENTIONED IN THIS ARTICLE
Chicago Board of Trade
New Revenue Bill Nears Final Enactment
The proposal calls for a one year ten percent cut in government salaries saving 121 million dollars. Congress conferees kept Senate increases, raising high income tax, and preserved tariff items on oil coal copper and lumber. Corporate tax set at 13 3 4 percent for single returns and 14 1 2 percent for consolidated. Postage rates increased with three cents extra on first class mail. Effective until July 1 1934, exemptions for radios and newspapers under communications taxes kept.
MENTIONED IN THIS ARTICLE
Senate
Tax questions shape late Senate action on admissions and energy
The text outlines telephone taxes, telegraph and cable charges, and a ten cent admission tax retained at 41 cents exemption. It notes last minute levies on gasoline and electrical energy approved, shifting the 3 percent electric tax to a consumer energy tax, eliminating the quarterly stock transfer minimum, raising the stock tax to five cents a share over 20 dollars, keeping the bond tax at four cents per 100, and removing Senate exemptions for Olympic games and collegiate sports.
MENTIONED IN THIS ARTICLE
Senate
Hoover
Mills
Bank head urges repeal era reform amid prohibition talk
John M. Miller Jr., Richmond banker and National Credit Corporation chairman for the Fifth District, told the South Carolina Bankers Association that action on the 18th Amendment could help business. He urged world debt readjustment, tariff revisions, and Sherman law revision as steps to restore world commerce, saying prohibition has bred a criminal class and drinking persists.
MENTIONED IN THIS ARTICLE
Columbia
John M. Miller
Richmond
South Carolina Bankers Association Today
Miller
National Credit Corporation
Fifth Federal Reserve District
United States
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Warner Bros. Capitol
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McNamee
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Washington, D. C
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Richard Arlen Mary Brian Leon Errol Stuart Erwin
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Ohio
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Virginia
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Callnty
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Hansbrough & Carter Loans
Panama
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Gray & Sheetz
N. Main St
Winchester, Va
People's Bargain Store
North Main Street
Chicago
W. B. Hibbs Company
Telephone National
Leonard Electric
Adrienne Ames Alison Skipworth
Joe E. Brown
the Tenderfoot
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Sere
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pAllew
Greater Seria
Keystone
N. Loudoun St
Harvey
Galen
THE
W. Scott Darling
Coast Guards
Glen Tryon
Vera Reynolds
Walter Long
Marjorie Beebe
Paramomunt News
J.W. Arthur
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Rouss Ave
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Greenwood Farm News
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Cannon
APPLE
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E. Boscawen Street
Richmond, VA
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Kelvinator
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