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Newspaper
Cincinnati Commercial Tribune
Location
Cincinnati, Ohio, United States of America
Date
Aug 22, 1908
Page
6
New York August 21 Prices moves in the stock market Tuesday were largely unimportant and the market tended lower. Trading remained moderate and focused on speculative elements. outsiders stayed aside awaiting clearer direction. Short interest stayed large despite some reduction. cotton pool collapse dampened bold shorts.
Readings earned 41 million 41 thousand 80 dollars gross for the year versus 43 million last year, with an expected 600 thousand decrease. Bull cotton pool collapse contributed to midday stock weakness. Louisville and Nashville year ended June 30 shows net income of 2,824,456 dollars, down 3,626,066 from prior year. Demand for stocks in loan crowd remains strong.
W E Hutton Co says there are no features in the general business outlook beyond optimistic hopes and that Wall Street speculation remains a separate factor to reckon with. They expect the market to stay professional for a while, suggesting best results from cautious action.
Easy money market conditions kept discounts weak while stock trading remained quiet in London. Paris and Berlin showed irregular to firm tendencies with occasional gains led by Harriman issues and Argentine rail firms, as currency discounts varied and the market closed comparatively easy.
The Cincinnati, New Orleans & Texas Pacific Railway reports second week August gross earnings of 142,900 versus 164,010 a year earlier. Bultman & Co assets sold by Receiver Thrall at public auction for about 1,200 in the Herschede Building. Laundrymen's Supply Convention planners met at the Business Men's Club for October 5-7 with elaborate plans in progress.
New York markets show call money easy at 1 percent, discounts at 1 percent, and short terms from 60 to 180 days at 1 to 3 percent. Sterling rates steady. government and railroad bonds balanced. Boston notes cite call loans around 2 to 4 percent and a range of corporate bonds and stocks with mixed performance across transportation, utilities, and manufacturing firms.
The London tin market fell with spot at £132 15s and futures £133 7s 6d while local quotes ranged 29 to 29.50 dollars. Copper rose slightly in London to £60 spot with futures unchanged, and local copper, iron, lead, and spelter prices were broadly dull or mixed. In St Louis, lead traded at $4.45 and spelter at $4.50 to $4.55.
The Commercial Bulletin reports overall wool market prospects as steady with firm demand for desirable wool and moderate trading ahead of the fall. Boston shipments to August 20 reach 107,884,275 lbs versus 168,917,045 lbs last year, while receipts total 172,275,008 lbs against 210,834,245 lbs a year prior. In St Louis price ranges for various grades are wool firm with mid grades 19 20c, light fine 16c, heavy fine 11 12c, tub washed 20 27c.
The dry goods market in New York remained fairly active with a sale of 2,000 pieces of dress goods by a major house and other firms moving staple and seasonable goods for early shipment. Cotton yarns faced wider channels but low prices and light volume. The legal wool market stayed dull while the primary cotton goods market weakened due to falling cotton prices and future price uncertainty.
New York bond sales activity logged by W E Hutton & Co at 10 a m and 1 45 p m with listings including Pac 3s 4s and 5s notes from Pacific, Erie and Pa issues plus rail and utility debentures. Total sales figure noted with varying lot sizes and prices.
Kansas City, Chicago, New York, and Philadelphia market reports show butter firm with creamery extras around 19 to 34 cents, cheese steady with various grades quoted, eggs firm to steady with firsts around 18 to 22 cents, and poultry largely steady with live birds at 10 to 16 cents and dressed prices around 12 to 19 cents. Receipts and regional variations noted across multiple markets.
Money demand is limited while rates stay easy. Banking clearings reach 3,302,150 in Cincinnati and 36,571,583 in Chicago with New York exchange at a 10 discount. Street Railway and gas shares trade while municipals soften. brokers note dull but steady bond and stock activity across Cincinnati and surrounding markets.
A compact stock table lists securities and fractions for banks savings firms and utilities. Entries include First N1 Cov 175 Ger N1 Npt 150 Colum bank and Sav Co 310 Norw First 143 Nor Nat .120 Prov S. a T 165 Seco Savings 135 Stockyards 120 A and T 725 and other notes such as ex-dividend statuses and preferred shares with varied prices.
New Orleans reports uneven cotton activity with spots steady to easy and futures mixed. Across New York and Liverpool the market shows a broad decline and later partial recovery amid heavy liquidity shifts, while Hes ter’s visible supply tally stands at 1,775,617 bales globally with American share at 990,571 bales.
The market shows a softer tone with lower top quotations for hay and steady pace for clever and clover. Whisky remains firm. detailed wheat rye corn oats and hay prices, receipts and shipments listed with No 2 red winter at 97 1 4 cents and whisky at 1 37 per gallon on 801 barrels.
Oil prices and stocks show varied activity from Oil City Toledo Charleston Savannah Wilmington with June July and August readings. Turpentine and rosin prices hold firm in Charleston Savannah and Wilmington while spirits of turpentine and tar show steady levels and regional receipts and shipments figures.
Boston notes show a running list of mining stock prices and percentage changes for numerous companies including Amalgamated, Calumet and Hecla, International Copper, United Copper, Isle Royale, Mohawk, Osceola, Parrot, Quincy, Tamarack, Trinity, Nevada, Calumet and Arizona, Victoria, Wolverine, North Butte, and more. Market figures display varied gains and losses with several percent figures and stock names scattered through the dispatch.
New York August 21 The coffee futures market opened quiet with prices largely unchanged and foreign markets similar. Spot coffee stayed dull with Rio No 7 at 61 1/4 cents, Santos No 4 8 1/2 cents, and Cordova mild grades around 9 1/2 to 12 cents.
New York mining stock prices are listed for several firms including Alice, Brunswick, Comstock, Ophir, Ontario, and Yellow Jacket. Quotations show gains and losses with bonds and common shares noted for each issue.
A historic market listing shows prices for fruits vegetables and groceries. Apples per barrel two to two fifty, bananas two twenty five per bunch, beets and carrots per dozen bunches, cantaloupes Indiana sixty cents per basket, and more including lemons messina and palermo four to four fifty per box, Ohio potatoes one per bush, peaches Georgia one to one twenty five per bush, watermelons ten to twenty five per hundred.
Louisville August 21 The local tobacco auction showed light business with 28 hhds offered. Central House sold 28 hhds of Burley at 11.75 to 22.50 per hundredweight with good quality and steady tone and only one rejection reported.
Treasury reports for today show available cash balances of $192 708 001 in the general fund excluding the $150 million gold reserve. Gold coin and bullion total $37 459 918 and gold certificates amount to $29 832 450.
Toledo markets quote Clover seed at October 6.37 and December 6.40 and March 6.50. Alsike seed trades cash 8.40 with September 8.40 and October 8.35.
New Orleans reports prime cotton seed oil at 42 cents per pound while Peoria notes whisky at 1 dollar and 37 cents per gallon on August 21.
Louis Hollmeyer a Cincinnati leather merchant fractured his left shoulder while leaving his sister in law Mrs Sophia Price of Muncie Indiana funeral at Oxford Ohio. He tripped over a wire and will be laid up for some time.
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