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Newspaper
Cincinnati Commercial Tribune
Location
Cincinnati, Ohio, United States of America
Date
Jun 05, 1900
Page
9
In London last week on Monday evening June 4 1900 investors sold many U.S. shares as the market faced a broad downturn. Cincinnati glad to report record bank clearings amid steady Sterling demand while local rail and utility stocks moved on mixed signals from cross river traffic and dividends.
London has been active as a buyer of Baltimore and Ohio stock with the London price staying just above New York all day. Rumors tie some company insiders to London purchases and a 6 percent sugar dividend is noted. Directors meet Tuesday to decide on dividends and policy, with expectations of steady 6 percent quarterly payouts and possible extra dividends when refining profits permit. The Executive Committee reportedly recommended a 14.4 percent dividend, while Hocking Valley reports May earnings of 574,362 dollars. Bond sales and school bonds in Detroit and Coshocton are announced, with Louisville & Nashville forecasting record June earnings aided by grain movement amid a poor Ohio and Indiana crop year.
The government offers a thirty year 2 percent gold bond in exchange for 3s 4s and 5s old bonds with cash differences. Present values on May 31 1900 determine profits or losses at maturity. Investment values and market quotes cited. refunding totals reach 284 225 050.
New York reports a lack of demand and widespread selling pressure as bears push prices lower. News offers little to justify weakness while expectations of large bank loan expansion and plentiful money supply fuel debate on future price moves.
Oil City reports credit balances of 128 and certificates with no bids as shipments of 324 502 barrels occur over three days. Average runtimes 108 164 barrels, runs three days 218 barrels, average 72 699 barrels. Charleston and Wilmington markets show turpentine and rosin steady with little activity.
A dense bank and broker report lists numerous equities and pref shares including Burlington, Canada Southern, Chicago and Western Indiana, Erie, Jersey Central, Manhattan, New York Central, Northwestern, Union Pacific, Reading, St Paul, Southern Railway, and Western Union among others. The muddled OCR captures price percentages and share counts, reflecting early trading activity and portfolio holdings.
Speculative wheat markets firm while cash demand improves. local prices slip to 71 to 72 cents with No 2 mixed at 39 to 40 cents on track. Northwest stocks rise to 4,871,000 bushels. passage stocks total 36,160,000 bushels of wheat and 12,216,000 bushels of corn. World shipments and visible grain supplies mixed with declines in some grains, while lard and pork stocks shift in May.
Readable stock and bond quotes from Cincinnati and Covington markets list railroad stocks misciled shares bank stocks and bonds. Highlights include Cin intercity lines at bids 127% 125% and rail bonds with 7-30 1906 108% 109% nearby city and county issues with various coupons and maturities.
Chicago on June 4 reports light country acceptances and strong demand lifting corn prices while wheat slips then recovers. Northwest damage claims and improved cash business support futures. oats and provisions rise with hogs tightness aiding pork and rib futures.
Special Despatch reports Samuel Jones, an elderly resident at Maple's Corner near Xenia, was tortured and robbed by three masked men last night. They secured only a small sum and no clues to their identities are known.
The notes show steady or modest gains in many items. Lard bacon and dry salted meats hold steady with mixed sales. flour and wheat markets reflect moderate demand. butter cheese and eggs steady to firm. cotton and coal markets show cautious activity. fruits vegetables and staples list prices for berries peaches onions cucumbers and more, with various grades and quantities reported.
Chicago to St. Louis notes show steady markets across butter cheese and eggs. Prices vary by crude creamery and white large, with receipts posted for New York Philadelphia Baltimore Kansas City Elgin and St. Louis markets.
June 4 reports show money on call easy at 1 to 2 percent in New York with prime mercantile paper around 3 to 4 percent. Sterling exchange softer amid bankers' bill activity, with posted demand and sixty day quotes near 48.45 to 48.88, while various government and railroad bonds show mixed activity across markets.
Colorado Springs reports mixed mining shares with values for Consolidated 13% and Keystone 181% among others. Boston lists Adventu re 8% and Amalgamated Copper 89% while New York notes slack speculation due to absent London cable advices with tin at 20 and lead around 3.95. St Louis confirms dull lead and spelter markets as copper stays near 16.50.
In New York on June 4 the spot market was quiet with middling uplands at 9c and gulf at 9 1/2c with 200 bales sold while futures closed very steady across contracts from June to May, and in New Orleans sales reached 1,700 bales with steady to firm futures quotes and a stock of 99,876 bales.
On June 4 in New York there were renewed inquiries for brown cottons and export accounts but no sales of any amount. Home trade demand remained slow across departments with no notable features in staples or fancies. Print cloths unchanged and odd goods slow at previous prices as other market divisions stayed dull.
New York reports mixed grain trading with wheat atop gains on weather but ending steady after a dip. Corn remains strong on strong demand while oats show quiet activity. coffee futures rise on Rio plague news and supply concerns. Baltimore notes quiet flour and steady wheat with soft corn. Toledo and St Louis list dull to steady grains with clover seed higher in Cleveland. Kansas City shows mixed results in wheat and corn with barley firm.
In Cincinnati on June 4 1900 figures show a forty year backlog of receipts and shipments. The report notes ongoing activity in wholesale markets with rising demand and inventory concerns across multiple firms.
The Procter Collier Co notes about half a million U S families able and willing to buy costly articles. Advertising can attract them at an expense of only dollars per year. A pamphlet on how to advertise will be mailed for two cents postage to any address.
Richmond Virginia plant advertises simple or compound locomotives built to own designs or specifications. Offers modern repair shop, 400 locomotives available, terms and correspondence solicited.
Receipts were fair with cattle about 75 head larger than last Monday and hogs steady to lower. Prices varied by weight and grade with heavy steers around 5 50 to 5 60, hogs steady to 5 10, and sheep and lambs selling at steady to firm values amid ample receipts.
The Rochambeau statue, funded by subscriptions in France and the United States, was unveiled at Vendome with a grand ceremony. United States Ambassador Horace Porter arrived and stayed at the Count De Rochambeau’s home as crowds cheered the U S flag and French tricolor.
The State Convention of the German Catholic Societies of Ohio opened in Youngstown with fifty delegates. George Moog was elected President and Charles R. Miller Secretary. Delegates were escorted to St Josephs Hall by the Knights of St John and the Knights of St Joseph and were given a reception by local members.
Promoters offer a remedy claiming relief from mucous buildup using a simple regimen. The advert urges readers to act on a free sample and addresses a broad audience with assurances of quick results.
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