Wall Street Quiet as Markets Digest Mixed News
A calm New York stock day with sparse trading and dull price moves. Investors weighed steel strike, labor outlook, and a Buffalo bank failure amid hot weather and a pending exchange adjournment.
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Newspaper
Anaconda Standard
Location
Anaconda, Montana, United States of America
Date
Jul 03, 1901
Page
3
A calm New York stock day with sparse trading and dull price moves. Investors weighed steel strike, labor outlook, and a Buffalo bank failure amid hot weather and a pending exchange adjournment.
New York on July 2 reports money on call firm at 4 percent with various notes. Mining stocks include Adama Con, Alice Breece, Brunswick Con, Comstock Tunnel, Deadwood Terra, Iron Silver, Leadville Con, Ontario Une, Phoenix, Potosi, Savage and Sierra Nevada among others. Exchange active with bankers’ bills at about 4.8759 to 4.874% for demand and 4.854 to 4.854 for sixty days. Government and state bonds weak or inactive.
Special cables to Bradstreet show wheat supplies in North America down by 2.7 million bushels with 100 thousand fewer afloat to Europe, giving a total drop of 2.8 million. Corn in the United States and Canada east of the Rockies falls by 2.26 million bushels while oats in the same region rise by 261 thousand bushels.
Classified short notice lists multiple rental options in Butte with addresses and room counts. Includes 5-room furnished home near 219 North Washington, a 3-room house on New 327 Railroad east of tank, a 4-room house at 7 West Galena with contact 721 West Galena, and a 6-room modern furnished house at 651 West Granite.
Classified real estate ads from Butte Montana offer 26-room family hotel with long lease near center and built in upon payment terms, plus multiple houses, lots, and rental properties priced from 325 to 10,000. Notable entries include a prosperous hotel for sale with potential $10,000 yearly net and rental agency services by Slemons & Booth.
The London financial cable notes a dull market with American bank failures and a steel strike. Labor troubles seen as not serious since only 20 percent of steel workers belong to unions. London was a seller, New York a quiet buyer, and the list rallied about half to a full point as Atchison led the recovery. Money on call was easy at 1 1/2 percent and then became unlendable.
New York July 2 reports a weak tone across metal markets with abundant offerings and weak demand. Tin in New York closes easy at 27.70 bid 28.10 asked. London tin falls 2 pounds with spot up 1s 8d abroad. copper slips to year’s low. lead and spelter also soft. iron dull overseas. prices in Middlesbrough and Glasgow quoted lower.
Wheat fell early with declines in Liverpool and strong harvesting weather boosting movement. France faced heat and storms, raising expectations for imports up to eighty to ninety million bushels. Local market activity dominated with shorts covering later, September wheat trading between 63c and 65c and ending firm. Corn opened weaker on showers in the belt but recovered as outsiders bought, closing about 47c. Oats rose from a down start, while provisions remained dull amid large hog receipts.
The report lists prices for flour and grains including No 3 spring wheat Satie No 2 red 614 hiec No 2 corn 1 %%c No 2 yellow 444ca 44%c No 2 oats 274c No 2 white 314c No 3 white e sa c No 2 rye 47e¢ good feeding barley 47 5ic No 1 flaxseed 1 85 No 1 northwestern 1 83 prime timothy seed 4 9004 45 mess pork 14 35014 40 lard 8 52%08 50 short ribs sides oase 7 06 8 10 dry salted shoulders boxed 4 7%c short clear sides boxed 8 3564 45 whiskey base of high wines 1 27 clover contract grade 9 00 Receipts and shipments for flour wheat corn oats rye barley with figures in barrels and bushels.
Cattle receipts reach 34 50 including Texas cattle with steer prices ranging from 4 10 to 6 25 for good to prime and lower for poorer grades. Texas fed steers 4 25 to 5 25. Sheep receipts 5 30 with lambs and wethers showing varied values. Market slow with top cattle 6 20 and heavy categories 5 40 to 6 10.
Real estate wants describe multiple properties with prices and features. Items include a modern six room building rental at 120 dollars per month and 8500 value, a double lot for a modern flat, a two story double brick house, a large frame house suitable for lodging, a vacant corner on a good business street, a room double brick near south, and a room frame on an extra large lot with rents of 35 dollars.
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