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Newspaper
Cincinnati Commercial Tribune
Location
Cincinnati, Ohio, United States of America
Date
Apr 08, 1908
Page
8
The New York market stayed in a practical deadlock amid doubt over the Erie financial settlement. Investors awaited Government crop reports amid hopes for April conditions, while Union Pacific led gains as earnings dipped for February. Bonds stayed steady and overall market interest remained lifeless.
American stocks in London stay quiet but firm near parity. Iron and Steel exports rise 18 percent in eight months versus last year. Southern Railway earns little toward fixed charges in February. United States Steel shows no clear improvement for Q2 vs Q1. Bond market activity is paralyzed as thirteen roads report a 14.44 percent drop in gross for the fourth week of March.
Brokers report a quiet session with strong early buying in standard issues and a firmer close. The Erie situation shows little change while the Union Pacific statement is viewed as favorable though prices eased from a late high. No new information on Erie. awaiting additional details to gauge note support and proposed plan.
The session saw limited volume but a strong close with prices edging higher. Analysts noted a hardening trend for most of the day and rapid gains at the end, with little news of importance and advice to buy on setbacks for quick turns.
London trading showed money in quiet demand and ample supply as discounts eased in anticipation of India Council releasing Bank of England gold. American shares opened higher but activity remained slim. copper and many industrials held firm while the Erie railroad news awaited. Berlin and Paris sessions were dull with minor shifts and limited liquidity across bourses.
Bond sales across multiple issues show total activity of 2,489,000 with varied percentages and denominations including C and O Erie and C B Q lines. Notable figures include 30,000 at 10,000.107% and 55,000 at 1.97% with several entries across rail and utility bonds.
The April report shows country banks expanding in the local money market with loans at 5 percent, 5 1/4 to 7 percent on call and time, and premiums on New York exchange. Cincinnati Gas and Electric and transportation stocks showed activity, while the bond market remained quiet with only two reported trades. ClearingHouse totals reached 4 156 850 and sterling rates were quoted in London and Paris on demand bills.
The excerpt lists various securities including rail, industrials, and savings institutions with prices and yields. It includes tram and traction stock references such as C & C Bag pr and Niles T W pr, plus municipal and corporate bonds like Dayton &ieben and U S Lith pr.
The North Fairmount Improvement Association meets tonight at Maccabees Hall on Carll street as newly elected officers take their places. Various executives and visitors are listed, including Frank Schafer and Walter Schafer. Palm Brothers Company incorporates in Columbus with 500000 capital, producing fancy ornaments. A. A. Brown leaves Travelers Insurance to join Interstate Life in Indianapolis. Incorporation papers filed for George Plucker Cigar Company at Clifton and McMillan. 150 Cincinnati business men invited to Municipal Information Bureau meeting hosted by Frank Shafer and Jerome B. Howard.
New York report shows money on call at 1 percent with rates at 1.25 percent, time loans from 2.5 to 4 percent. Sterling exchange firm with bills around 486.50 to 486.55 for demand and 484.10 to 484.15 for sixty days. rail and government bonds steady. Boston notes list call loans 2.5 to 6 percent and a range of bonds and stocks including Atchison 4s at 85.5, American Sugar 124, United States Steel 33, Edison Electric 206, and General Electric 128.
Bradstreet's telegraphic data show global grain shifts with wheat US east of Rockies down 421000 bushels, Canada up 434000, total US and Canada up 13000. Europe and afloat supplies rise by 1000000, total world US European stock up 1013000. Corn US and Canada down 115000, oats up 1036000. notable decreases in Manitoba 560000, Portland Missouri 100000, Minneapolis elevators 50000. Omaha shows 59000 increase.
New York coffee futures began steady to up five points with European cables and orders supporting buys. Trading was active with 26 000 bags sold and prices quoted for May 5 65 70 cents per pound and later months up to 5 90 cents. Rio and Santos quotes remained mixed as the market prepared for the Good Friday holiday closure on April 17 and 18.
The cotton yarn trade in the dry goods market shows material price declines while converters’ goods see better activity. Lining is quiet and exports to China offer little promise of big resumption. Miscellaneous markets perform fairly well but below earlier expectations. jobbers report better sales on heavy cotton goods since price revisions. General jobbing remains limited to small orders.
Boston trading April 7 shows mixed activity across mining shares with notable bids and percent changes. Top performers include Calumet and Hecla at 620, Grand totals for several producers, while several smaller miners hover around single digits or fractional gains.
On April 7 in Louisville the market listed 150 hhds with 15 Burley and 135 dark. Kentucky House sold 12 Burley at 39.10 to 15 dollars and 37 dark at 6 to 11.50. Pickett moved 3 Burley at 10.75 to 13.60 and 23 dark at 5.30 to 10.25. a few dark at 5.50 to 11. Dark total 43 hhds priced 6.40 to 12.75.
Cincinnati markets on April 7 1908 show wheat prices firm for No 1 Northern at 1.00 percent, with broad activity dull across grains. Notable quotes include 2 cars red winter 95c and various corn oats rye and hay lots with modest trading and stable to soft tones. Whisky sales at 837 barrels priced 1.35 per gallon. Grain inspections list several No 2 No 3 mixed and No 4 grades across wheat oats rye and hay with limited established grades.
Fruit and vegetable prices listed: apples per barrel two to three dollars, bananas per bunch 1.75 to 2, beets 1.60 per barrel, cranberries per box, cabbage 1 to 1.25 per barrel, lemons Messina 3.26 to 3.50 per box, Palermo 3.25 to 3.50, oranges Florida 2.50 per box, onions home grown 0.90 per bush, potatoes 2.50 to 2.60 per barrel, rutabagas 1.50 per barrel, squash red 2 to 2.25, sweet potatoes Southern Queens 4 per crate, Kanawha 0.33, nut and slack 2.10.
Three warehouses report the day’s trade with light offerings from the new crop. Demand stays good and prices span from $6.70 to $20.75 per unit across 60 plus hundredweight of stock, including common trash and occasional red leaf and wrappers.
On April 7 in New York prices listed include Alice at 1.50 and various mining stocks with fractional values such as Brunswick Con at 0.10 and Com stock Tunnel at 0.22. Other notable quotes include Ontario at 2.50 and Ophir at 2.20 with multiple small cap tickers like Leadville Con 0.05 and Sierra Nevada 0.30.
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