OCR Text |
Show iGREDIT MOVE HURTS STOCKS "Corrective Measures" of U. S. Reserve Board Give Violent Setback NEW YORK, April 24. Further 'corrective measures," invoked by the 1 federal reserve board to curtail or re ; strict speculative credits, gave the i-stock market a violent setback this , week, but the reaction was accelerat-jed accelerat-jed by a weakened bull position. I Tho action of the Central bank authorities au-thorities took the form of advanced discount rates at important financial commercial and industrial centers. 1 This was supplemented by the private j hanks of those secttions where addi-j addi-j ticnal contraction of loans was in prog-( prog-( rcss. These domestic credit conditions 'were accomplished by evidence of I world-wide stringency of the same : character, an echo coming from Japan, I where speculation during and follow-I follow-I ing the wnr culminated In financial 1 disaster. j Enormous liquidation of Liberty ; bonds, a decline of 1 to 4 per cent Jalso served to unsettle the local soldi so-ldi rities markeL Offerings of these is-I is-I sues evidently came from all parts of the country, but round amounts were sold by corporations as the only immediate imme-diate means of now financing. I There was a let-up to gold Imports I also to exports of that metal, although J further shipments to South America are under negotiation. Much of the week's setback in foreign exchange, especially the London rate was due to offering sterling bills here for Japanese Japan-ese interests. WALL STREET NEW YORK. April 24. Stocks of almost every class made spirited recoveries re-coveries during today's brief session, the rally resulting from a. bettor understanding un-derstanding of the Mexican situation and the elimination of the Stutz con- troversy as a disturbing cjenient. Advances Ad-vances of 2 to 15 points marked the rebound of motor,, oil, steel and -the equipment issues. Textile and leather shares, together with kindred specialties, special-ties, made less extpnslxc gains. Rails and shippings replaced early losses with moderate advances. Realizing for profits reduced some gains later. The closing was strong. Sales approximated ap-proximated 4 50,000 shares. ' OGDEN LIVESTOCK MARKET. I Cattle Receipts 133; choice heavy ifeleers $10( 10.75 good nfcors $0.00 ;L'10.00; fair steers, $7 508.50; choice,' I feeder steers $7.00 $.30; choice cows land heifers $S00T9.00: fair to good i Jcows and heifers $7.00S.OOO; cutters j?l.506.00; canners $3.0004.00; (choice feeder cows; $5.506.50; -vehl calves $10.0012 00. Hogs Receipts 174; choice fat hogs i75 to 250 lbs $13.75(f'14.50; bulk of 1 sales $13.75!t 14.00; $10.0012.50. 1 Sheep Receipts 1356, choice lambs $15.00(5! 10.50; wethers' $10.00012.00; jlat owes $S.00(7;10 00; feeder -lambs I $12.50 14.00. j Arrivals S. J. Cobabe, Dclle. Utah, 9 carloads sheep; David Grant, Tre-monton. Tre-monton. Utah. 1 caiiod hogs; L. L. I Keller. Garland, Utah, 1 carload cattle; G. O. Whltlock, Malad. Ida..' 1 carload j cuttle; Frank BinghamCornlsh, Utah, 1 carload cattle. OMAHA LIVESTOCK. OMAHA, April 24. (United States Bureau of Markets Hogs Receipts 5,500; market opening to shippers 25 to -10c higher; market weakening to packers 15 to 25c higher; closing bids steady, bulk of sales $13.50(314 25; top $15.00. Cattle Receipts 700; compared with week ago. heavy steers $1.25 to 1.50 lower; handyweight yearlings and she-stock $1.00L25 lower; bulls, canners can-ners and cutters and veal 50c lower; jStockers and feeders strong. : No sheep receipts, compared with week ago killing classes 1525c higher; feeders steady. ! 1 j MONEY MARKET. NEW YORK, April 25. Mercantile paper unchanged. Exchange strong; sterling 60 day bills $3.S4; commercial 60 day bills on banks $3.84; commercial 60 dav t bills $3.33 ; demand ?3.S6; cables S3.87. I Francs: Demand 16.94; cables 16.92. Belgiam francs. Demand 15.S7; cables ca-bles 15.85. Guilders: Demand .36; cables ..36. Lire: Demand 22.87; cables 2285. Marks: Demand 1.63; cables 1.64. Government bonds irregular; rail-bonds rail-bonds easy. 1 'COFFEE. NEW YORK, April 24. Coffee Rio. 'o- 7, 15.c; futures steadv; May 14.40c; July 14.S3c. LIBERTY BONDS. NEW YORK April 24. Final prices on Liberty bonds were: 3's 93.30c; first 4's 85 50; second 4's 85.00c; first 4U's 85.90; second 4its 85.S4; third 4,i,s 90.60; fourth l's S5.90; Victory 96.50; Victory 4's 96.80. . CONDITION OF BONDS NEW YORK, April 24 The actual condition of clearing house banks and trust companies Tor the week shows that they hold $35,551,710, reserve in J excess of legal requirements. This Is an increase of $11,876,120 from last' week. POTATOES. CHICAGO. April 24. Potatoes stronger; receipts 9 cars; northern round white bulk and sacked ?7.00 7 25; Minnesota red river Ohios $7.60. NEW YORK STOCK LIST. Allis-Chalmers 38 Amorlcan Beet Sugar 95 American Can ... . . 42 American Car & Foundry 136 American Hide Leather Pfd 103 'American Locomotivo 96 American Smelting & .Ref'g. .. . 61-i American Sugar 131 -" American Sumatra Tobacco .. .. 89 American T. & T 95:,'i Anaconda Copper 57 'a Atchison 79 V All. Gulf & W. Indies 152" Baldwin Locomotive. ... 112 ! Baltimore & Ohio '31 Bethlehem Steel "B" 87 jC?nadian Pacific ...117 j Central Leather ;. . . 7G v's Chesapeake & Ohio 51 Chicago, Mil. nda SL Paul 33 Chicago, A. I. & Pac 31t I Chino Copper 33'4 Colorado Fuel &'lron 35 I Corn Products 9S' ICVuciblc Steel 235 Cuba Cane Sugar .... .:. ' 52 Erie 12'4 ....... JLOU"., General Motors .'...'.298 Goodrich Co. ... .'.65Vi j Great Northern pfd 74 Illinois Central S5 Inspiration Copper ... 53 ilnt. Mer. Marine, pfd SS1. International Paper!" 75 Kennecotl Copper' 2s4 Louisville .t Nashville 102U Maxwell Motors 29J Mexican Petroleum 108 I Miami Copper ;. 22 jMdva!e Steel .js Missouri Pacific 24 New York Central 69 N. Y., N. H. & Hartford 28?; Norfolk & Western oi ' Northern Pacific 7K?: Ohio Cities Gas 397, Pennsylvania .jo-ii People's Gas '..! 35 ' Pittsburg and West Va ! 20 Ray Consolidated Copper is 14 Reading 73 Rep Iron fc Steel Qsy Sinclair Oil and Refining 34 Southern Pacific 94 ij Southern Railway 21U Studebaker Corp" i.'iio Tennessee iq74 Texas Co. (new) " '. ! ! 45', Tobacco Products ... ' G4 Union Pacific n6i (United Cigar Stores 105' j U. U. Ind. Alcohol- 33 United States Rubber loi United States Steel Dfj.y. I Wesllnghouse Electric ..." ... 49 Willys-Overland 21 American Zinc, Lead and Sm. ... nU (Butte and Superior 24 iCnla. Potrolcum .. .., ' 30, Montana Power , 5317, Shattuck Arizona, iqu (American Inter. Corp. " oiu, Royal Dutch, N. Y. "'lVdH Texas & Pac '' 34 Standard Oil pfd.. N. Y.' "l06 I AT MINNEAPOLIS. ! MINNEAPOLIS. Minn.-, April 21 I Flour unchanged. Bran $51,000. I $3 Jioat ash N' lf nor,hern ?30 l Corn $1. 601. 67. Oats 98 99 c. Barley $1.39 1.69. Rye No. 2, $2.04 2 06. Fnx No. 1. $4.644.74. BUTTER AND EGGS. CHICAGO. April 24.- Butter un-settled; un-settled; creamery 4765c. Eggs unchanged; "receipts 41.9S0 cases. Poultry unchanged. COTTON FUTURES. NEW YORK, April 24. Cotton futures fu-tures opened steady; Mav 40 SOc; July 5?'nC; , 0ctober 35.00c; December 34.00c; January 33.40c. LONDON MARKET LONDON. April 24.-Bar Silver 6998(1 per ounce. Money 4 per cent. Discount rates: Short bills 5 per cent; three month mills 0 per cenL . i NEW YORK SILVER. j NEW YORK, April 24. Bar 'silver I ?1.18. ' Mexican dollars S9c. ! RECORD WHEAT PRICE. BUENOS AIRES. April 23. The price of wheat today reached unprecedented unpre-cedented quotation of 26 pesos a hundred hund-red kilos, which Is equal to 3.36 pesos' gold, a bushel. 1 More than eight billion bushels of wpeat were exported in the past week, breaking all records. Tr, SUGAR MARKET. a ! NEW YORK. April 2i.-Raw .sug?r firm; centrifugal 19.56c; refined firm- ! fine granulated 17.5023 00. j |