Paris Bond Placements Rumor Fuels American Stocks Rally
Stocks rise on rumors of American bonds placed in Paris with talks of United States Steel listing in Paris. News from banks and railroads is inconclusive as traders await formal announcements next week. Market data shows gains in exchange rates and slight shifts in bond prices while rail freight and crop/weather news provide mixed signals.
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New York
Paris
United States Steel
London
Texas
American Railway Association
United States
Gradual Advance in Prices of Cotton Oil
New York May 21 Special Predicitions fulfilled as old crop options rose to eight cents inside thirty days. Demand broad and trading large with May tenders sparse. July buying persistent and bullish sentiment grows. Spot needs and May deliveries constrained, rumors of settlements circulate. October and other options show orderly gains. Lard and edible oils firm with export lag. Export sale totals 4,389 barrels this week and 198,000 since Sept 1, 1965, vs 380,600 in 1908 counterpart. Crude oil dull. old crop prices 52 1/4 to 64 1/2 cents, new crop 41 to 44 cents.
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New York
Easarlier
Ofl
Europe
Harahan pessimistic say manufacturers optimistic tone
Ralph Emerson reports President Harahan of the Illinois Central doubts a quick upturn in the industrial and financial outlook, while American Manufacturers Association members in New York express strong optimism. The week sees a dull stock market with occasional gains, a favorable bank statement, and rising money movement as railroads and industrials announce wage settlements, dividend boosts, and new expansions.
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Ralph Emerson
New York
Harahan
Illinois Central Railroad
Europe
United States
American Manufacturers’ Association
Turpentine and Rosin Prices and Stocks in Savannah and Charleston
Naval Stores report shows Savannah and Charleston markets with turpentine firm at around 60 1/4 to 61 1/4 cents, rosin sales and receipts rising, ships and stocks listed. Prices range from about 4.20 to 5.95 dollars per barrel for various grades, with firm levels in late May and notable stock totals across firms.
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Naval
Savannah
Charleston
Grain Tumbles on Good Weather in Wheat Belt
Chicago May 21 Weather across wheat-growing regions improved the bear mood as prices fell. Wheat closed about 1% lower with May contracts down 1 ¼ to 1 ½ cents, while corn and provisions also eased on strong crop prospects. Traders cited insect and storm damage reports and large new receipts as factors shaping the session.
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Chicago
Shorts
Illinois
Oklahoma
Texas
Kansas
India
United Provinces
Grain Markets Fall on Wheat Slump and Packers Pressure
Wheat prices slipped as oats weakens and pork futures slid 20 to 27 percent. Car lot receipts show 82 wheat cars with 10 contract grade and 90 corn cars with 21 contract grade. Total wheat, flour clearances reach 17,000 bushels with primary receipts at 327,000 bushels. Monday's outlook estimates wheat 64 cars, corn 118, hogs 35,000 head.
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Chicago
Minneapolis
Duluth
New York Clearing House Banks Show Strong Reserves
The weekly clearing house banks report reserves above the 25 percent rule by 23 million 823 975 with a 6 million 719 025 increase from last week. Loans total 1 183 160 000 and deposits rise 7 473 100, while circulation falls 15 700 and specie rises 6 511 600. The overall reserve rises 8 587 300 to 317 210 500 with surplus 23 828 975. The Greater New York nonreporting banks add loans up 877 600 and deposits up 867 000 with slight cash decline.
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New York
United States
Clearing House
Greater New York
Greater
New York Clearing House
Hester's Weekly Cotton Statement Shows Decrease in Movement
New Orleans May 21 Secretary Hester's weekly cotton statement reports a drop in movement into sight for the seven days ending May 20, with declines across compared periods. Totals for May show lower receipts, 262 days of the season behind prior years, and reduced foreign exports to date.
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New Orleans
Hester
United States
Missisippi
Ohio
Potomac
Northern Mills
Canada
Southern Mills
American Mills
North
South
Cotton stock figures show declines from last year
Seaboard stocks and 29 southern centers have fallen by 67,532 bales this week, now 90,772 below the 1909 level. World visible supply totals 3,243,641 bales, down 107,616 from last week and 826,902 from last year, with American cotton at 2,054,641 and other kinds at 1,105,000.
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Canada
Seaboard
Hester
Orleana
Brazil
India
Great Britain
Europe
United States
Taking of American Cotton by Spinners Across World
Hester provides figures showing global cotton taken by spinners. This week 192000, this year 9216000 total since Sept 1 9216000, compared with 16784000 last year and 9728000 the year before. Northern spinners and Canada total 1896000 this year, southern spinners 1989000, foreign spinners 6330000, with prior year comparisons.
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New Orleans
Hester
Canada
Metals Markets Report and Cotton Outlook May 21
New York metal markets were nominal with steady copper and lead prices amid no exchanges. Argo Jester notes firm trading and higher prices in cotton on weather fears, with bullish weekly figures and government reports due in June, signaling possible volatility ahead.
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New York
Argo, Jester & Co
Liverpool
Foreign Finances and Trade Reports Across Cities
Paris and Berlin exchange figures for May 21 show three percent bonds at 98 francs 95 centimes and checks at 26 francs 29 centimes in London. Berlin notes 20 marks 53 pfennigs for London checks. Shipments list wheat corn flour oats totals and May New York sugar markets show raw sugar prices and molasses steady with various sugar grades. New Orleans kettle open at 32 42.
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Paris
London
Berlin
New York
New Orleans
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