Washington DC Terminal Co Bonds Move Market
Bond market notes show small movements as Washington DC Terminal Co issues 4 and 5 percent bonds with 44 percent offering discussed in trading.
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Newspaper
Cincinnati Commercial Tribune
Location
Cincinnati, Ohio, United States of America
Date
Jul 04, 1908
Page
13
Bond market notes show small movements as Washington DC Terminal Co issues 4 and 5 percent bonds with 44 percent offering discussed in trading.
The Associated Banks of New York for the week ending July showed loans up by 26.0 million dollars mainly for July dividend and interest financing, while cash fell by 5.5 million. Deposits rose by 22.0 million, reserve decreased by 11.0 million, and total net deposits across Greater New York financial institutions neared 2.6 billion dollars.
New York banks show a surplus of 34.496 million dollars above reserve requirements for the week, up 1.549 million from last week. Loans rise to 1.3403 billion, deposits 1.4193 billion, circulation down 130 thousand, specie up 2.561 million, reserve at 389.325 million with reserve ratio 26.94 percent. Greater New York banks not reporting total 1.3819 billion in deposits and 151.218 million in cash.
Paris prices on the bourse were firm with three percent rentes at 97 1 for the account and London exchange at 25f 18% for checks. Berlin trading was dull and unsteady with American securities and Canadian Pacific shares higher and London exchange at 20m 44p for checks. Money stands at 3 percent and the private discount rate is 2 percent.
Imports of merchandise and dry goods at the port of New York for the week ending June 28 were valued at 13 738 973 dollars. Imports of specie for the port for the week ending today were 79 957 silver and 118 623 gold. Exports of specie from the port for the week ending today were 854 370 silver and 2 922 000 gold.
The National Daylight association continues its drive for more daylight with literature explaining the plan. Cincinnati ordinance to move clocks ahead one hour on April 1 next year is cited, and other cities are urged to follow.
The Black Diamond notes a post contract slump in domestic coal demand and warns that railroads’ equipment shortages could raise prices. With crops and farm prosperity shaping rail and iron steel demand, coal profits hinge on transport capacity and timing rather than mine output.
Manchester cloth market sales remained weak as cotton prices rose and production costs climbed. Buyers paid higher prices for stocks while spinners increased yarn quotations but turnover stayed slow. A federation plan to close mills using American cotton on Saturdays and Mondays from July 10 to September 30 may ease the pause.
Butter steady with strong receipts across New York and Elgin, while cheese and eggs hold firm in New York and Kansas City. Western poultry prices show small gains in live birds and dressed items, with regional butter quotes and weekly sales totals highlighted.
Special Dispatch reports clearings of 9 819 073 and balances 706 611 for St Louis. Call and time loans sit at 4 to 5 percent, bulk at 4 to 4 1/2 percent. Commercial paper discounted at 4 to 4 1/2 percent. New York exchange shows a 20 cent bid premium and 30 cent ask premium.
The report notes general business conditions are sound though harvest is pending. It highlights crop reports encouraging new enterprises seeking capital and railroads enjoying improved trade.
The July overview notes a large Lackawanna dividend lifting stock interest while the harvest remains the key factor. Corn prospects look superb, wheat outlook favorable, cotton weaker but improving, and government crop reports expected to shape markets. Treasury deficits widen with July outlays. stamp tax proposed as a revenue measure amid heavy new capital activity and cautious lending.
In New York the large dry goods houses closed for the day and limited trade occurred. Revisions on cotton goods are to begin Tuesday and sharp advances are anticipated based on the government crop report concerning cotton conditions.
New York reports firm Spirits turpentine with sellers favored by good demand and light offerings. Rosin and Tar hold at prior levels with Spirits at 46 4 for Savannah 4%c, Rosin common to good strained 3.15, Tar per barrel 4.50.
The New York cotton seed oil market showed increased activity with prices higher across contracts. July at 5.69 to 5.72, September 5.90 to 6.00, October 5.60 to 6.02, November to December 5.66 to 5.70, and January at 5.78 reflecting market strength and cotton rally.
Liverpool reports include spot No. 2 Western winter wheat nominal with futures ease, September and December contracts quoted. Spot New American mixed price via arcading and futures quiet with September at 6 4 4 d and October at 5s 6%d.
Prime mercantile paper rises 3 to 4 percent while sterling remains nominal. Bankers' bills at 486.65 to 486.70 for sixty day paper and 488.10 for demand. Commercial bills at 486 to 486.5. Bar silver at 51.5 cents. Mexican dollars quoted at 44 cents.
Stock markets closed steady after a week with varied activity. Gains in American securities were offset by Wall Street holiday effects while Kaffir and Paris interests supported prices. Copper shares were dull and discounts weak, with closing quotes for key rails and mines listed.
Cincinnati market weekly receipts and shipments show cattle steady to firm with minimal gains across classes. Hog and sheep sales remain active though prices vary, while government inspections affect dairy cattle and calf demand amid mixed regional reports.
New York stock trading for a shortened week opened dull though undertone remained firm. Easy money due to July settlements supported prices while grain crop progress lifted sentiment and cotton news did little to deter. Steel, lead, coal and copper outlooks varied as Lackawanna extra distribution helped coal stocks amid tariff law discounts.
Oil City Pennsylvania reports creditances and shipment figures with July data. Wilmington and Savannah list firm turpentine and rosin prices with bbl and cask counts, while Charleston and New Orleans note quiet or mixed levels and specific grade quotes. No market Monday in some regions.
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