Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1920-06-25
WALL STREET


NV MORNING ioussAL SPECIAL LEASED wiRGj
New York. June 24.-Cumulative
evidence that money is likely to
become tighter or more stringent,
In the final days of the current
month overshadowed interest in the
stock market today.
Call loans opened and renewed
at per cent, rose to 10 per cent at
noon, gradually advancing to II
per cent, rate only once exceeded
this year, in the final hour. For
all material purposes time money
ceased to exist. further bids Of S1s
to 8 per cent bringing out only the
smallest supply.
Local banks reported similar
monetary tendencies at New Eng
land and middle western centers,
where financial institutions were
making preparations to strengthen
their reserves to meet unusually
large mid-year requirements.
Foreign exchange. particularly
the London rate, continued to react
from the high quotations of recent
days. In this connection 1t was
noted that the weekly statement of
the Bank Of England gave no hint
OF prospective gold exports to this
market. The Bank of France re-
ported only nominal gain of bull
lion, while it's discounts and ad-
vances increased almost seventy
million francs.
The stock market was inclined
to move forward in the early and
intermediate period of the dull ses-
sion, but most gains were cancell- |
ed when money became the, domi- !
nant factor. Crucible, Mexican |
Petroleum and Baldwin Locomo-
tive were among the few issues to
overcome this unexpected develop |
ment, rallying briskly and impart-
ing a semblance of steadiness at |
the end. Sales amounted to $685. |
900 shares. /
An element of interest was in
jected into the bond market by the
increased activity and strength of
Belgian 7ks, which rose a sub
stantial fraction. Other foreign is
sues were steady to firm but Lib
erty bonds and some of the rails, /
notably Southern Railway IS. were
mostly lower. Total sales. par
value, aggregated $12,s50.000. Old
United States bonds were un-
changed on call.
Closing prices:
American Beet Sugar. ...... 80
American Can ............ 40$
American Smelling & Ref'g.. 5Sh |
American Sumatra Tobacco. 81
American Tel. & Tel. ...... 80
Anaconda Copper ......... 55R |
Atchison 1871
Baltimore & Ohio .......... 3Oh |
Bethlehem Steel "B". .. S9R |
California Petroleum ....... 29A |
Canadian Pacific .112& |
Central Leather ........... &C q |
Chicago. Mil. & st. Paul.. Bin |
Chino Copper ............ 29B |
Crucible Steel .............147A |
Cuba Cane Sugar .......... 52h
Erie ................ II
Great Northern Ore Ctfs.... SSH |
Great Northern pfd. ........ 69B
Inspiration Copper ......... 81 Is !
Int. Mer. Marine pfd. ...... S9B
Kennecott Copper ......... rs
Louisville & Nashville ..... 97B
Mexican Petroleum .17Sk
Miami Copper ............. COX
Missouri Pacific ........... 24k
New York Central 81 u |
Pennsylvania ......... ssR
Ray Consolidated Copper. -. 1875
Reading ....... SAN
Republic Iron & steel. -. :. 92h |
Sinclair OIL & Refining. .... 31A !
Southern Pacific ...... 92A |
Southern Railway ........ 22%
Studebaker Corpo ation 80, II
Texas Company ......... 45%
Tobacco Products ......... 46&
Union Pacific .113A |
United States Steel ...... 92A |
Utah Copper .............. 66B