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Newspaper
Cincinnati Commercial Tribune
Location
Cincinnati, Ohio, United States of America
Date
Jun 01, 1905
Page
8
After full investigation of financial and physical conditions, Rudolph Kleybolte & Co. buy outright for their own account the most desirable bonds. Current offerings yield three and one half to five percent in five hundred and one thousand dollar denominations. Ground Floor First National Bank Building.
The New York stock market opened hesitant but firmed as strong issues lifted the list. Japanese bonds led while fears over iron and steel pools weighed on prices. Reading powered a late rise amid dividend speculation and a hoped conclusion to the Equitable probe.
W. E. Hutton & Co and Charles J. Buddeke Co express cautious bullish views, noting stubborn short interest and potential for higher prices before material recession. They advocate maintaining bull positions temporarily while buying on retracements and modest bulges.
Banks faced a $426,000 loss on Friday as stocks held firm in London and near parity. Paul Morton named Interborough president upon cabinet departure. Jap bonds rose slightly in London. Consols strong. Steel pools to dissolve amid congressional action. Brooklyn Rapid Transit pays franchise tax. Norfolk & Southern acquisition tied to Tidewater deal. Baltimore and Ohio orders 10,000 cars from American Steel Foundry.
Financial notices show brokers like Brown & Co and Eustis & Co urging cautious optimism as delays clear and dividends loom. Forecasters predict a steady to strong market through the week with possibilities of a 3 percent dividend for Southern Pacific and higher Union Pacific payouts.
W. J. O'Dell, noted broker, plans a three month automobile tour of Europe with his wife. The Cincinnati Associated Organizations hold a quarterly meeting at the Business Men's Club to hear Union Terminal Railroad Company plans for a new depot and cross-town subway and to review L N franchise reports. Ohio Confectioners' Secretary M J Keefe returns from West Baden improved. Quarterly stock dividends totaling about three quarters of a million dollars are distributed to stockholders.
Market observers note fair receipts and bullish sentiment as war in the Far East and weather conditions influence prices. Analysts urge buying on breaks, expecting higher cotton prices despite near term declines, with forecasts of a strong late week or next weeks if weather and figures align.
New York and New Orleans reports show the cotton market opening lower then rallying on bullish acreage and condition estimates. Prices climbed to gains before easing, with July and October futures around 8.6 cents and spot middling around 8.85 cents. Trading totaled about 400000 bales with mixed intraday moves and firming through the New Orleans session.
On May 31 New York money on call higher at 3 to 3 1/4 percent with time money easy at 3 percent for sixty to ninety days and 2 1/2 to 3 percent for six months. Sterling exchange steady with bankers bills around 487 to 487.05 demand and 485 to 485.05 sixty-day. government and railroad bonds firm. Boston quoted call loans 3 1/4 to 4 percent. Atchison bonds and railroad issues firm with various prices and ex-dividend notes. numerous industrials and utilities listed with mixed figures.
Treasury balance snapshot shows available cash of 130,146,031 dollars, gold reserve 67,634,138 dollars, and silver holdings of 28,237,852 dollars, excluding the 150,000,000 dollar gold reserve in the redemption division.
In Cincinnati on May 31 clearings reached 4 130 900 with a listless local market despite buoyant New York issues. Turnover was light, few sales, and records showed First National Bank at 263 and United States Printing shares at 90% 37 Fleischmann pref. Trading later picked up in C N C Light and Traction issues with a strong preferred at 92. Bond sales totaled 18 000. Exchanges through the Clearing House rose to 4 130 900, with May bank clearings at 101 232 400, up from last year.
Minneapolis cash wheat closed at 1.27% with limited demand. corn and oats steady to firm amid light receipts. rye 82 to 84 cents on track. flour and whisky values listed. Grain inspections show varied car counts and mixed lots. fruit and vegetable notes list apples to tomatoes with per unit prices and regional quotes.
The snippet lists various stock and bond entries with percent values and prices including 1Day, Mich, Third Nat, Am Oak, Traction Stocks, Do pref, Globe-W, Niles, City S Tel, Colum Ry, U.S. Lith, U.S. Card, and industrial bonds. It reads like a market lexicon of preferred shares and railroad and industrial issues with quoted percentages and transaction notes.
Berlin and Paris report subdued activity on May 31 with weak openings and later firmness in Paris. London money tight, stock trading muted as investors await New York prices. yields and bonds show mixed moves amid ongoing war concerns.
Boston market notes list numerous mining and resource shares with percentage figures for companies including Amalgamated American Zinc Calumet and Hecla and several others. The tally shows varied performance with percentages ranging from single digits to triple figures across different firms.
The London tin market closed easier at £136 5s spot and £135 5s futures as the New York market showed a quiet local tone with spot copper at $29.85 to $30.20. London copper rose to £65 3s 9d spot with £65 5s futures, while lead stayed near £12 17s 6d and $4.50 to $4.60 locally. Spelter was steady in London at £23 12s 6d and $5.40 to $5.50 locally. St Louis reported lead at $4.40 to $4.42 and spelter softer at $5.12 to $5.14.
NEW ORLEANS May 31 sugar quiet with open kettle 3/4 to 4 cents, open kettle centrifugal 4 1/2 to 5 cents, centrifugal whites 5 1/2 to 5 3/4 cents, yellows 4 1/2 to 6 1/2 cents, seconds 3 1/4 to 4 1/4 cents. Molasses nominal open kettle 2 to 2 1/2 cents, centrifugal 6 1/4 to 6 1/2 cents. Syrup nominal at 30 cents.
New York markets closed steady with futures easing up to 5 points on light liquidation. Trading showed little demand as cables moved little after the call. Reported sales totaled 15 750 bags with July at 6.55 cents August 6.65 cents December 6.58 cents March 6.70 cents.
New York on May 31 reports advances in the bleached dry goods market signaling strong prices ahead. Buyers show limited activity but accumulated orders sustain a satisfactory day.
Chicago report notes whisky finished goods priced at 1.26 dollars. The brief item states the current market rate for finished whisky in the city.
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