New York Stocks Report Ends With Sharp Tumble
New York stocks closed lower amid broad selling, with total daily sales around 534 900 shares as traders reassessed recent gains and market momentum.
This is just the beginning! Our collection holds over 300 years of history, including rare newspapers, obituaries, marriage records, birth records, and so much more—most of which you won’t find anywhere else!
This newspaper page contains 23 articles. Subscribers can read the full text of each article.
Newspaper
Cincinnati Commercial Tribune
Location
Cincinnati, Ohio, United States of America
Date
Jun 07, 1918
Page
8
New York stocks closed lower amid broad selling, with total daily sales around 534 900 shares as traders reassessed recent gains and market momentum.
Torrential rains in Iowa and resulting floods sparked a strong rally in Chicago futures. July corn rose to about 1.35 and August near 1.36 as market attention shifted from early weakness to storm news and expected tighter receipts. Oats gained, provisions held steady to lower as hogs weakened the late session.
Trade notes show flour and bran steady while corn and oats vary by grade across Minneapolis Indianapolis Kansas City St Louis Toledo Milwaukee markets. Prices cited for No 2 and No 3 white yellow mixed oats hay and clover entries across multiple dates.
New York June 6 corn spot unsettled with kiln dried No 3 yellow at 1.63 is No 4 yellow 1.53 4 cost and freight New York. Oats spot firm standard 1c. Barley noted but prices unclear. Other articles remain unchanged.
New York reports steady money with six percent as the ruling rate and bids at five to six percent. Sterling and francs show firm or high rates with cable and demand variations. London bar silver and discount rates noted while Paris bears quiet trading on the bourse and London stock activity remains firm with oil and mining shares drawing interest.
Auldfarm Realty of Akron 10000 dollars led by J A Gehres and Albert Buchele. Stark and Ohio Mining of Canton 80000 dollars by J S Selway and J W Stanley. Youngstown Restaurant of Youngstown 10000 dollars by A E Ferris and F H Nullmeyer with D O Cross Co of Cincinnati 10000 dollars by D O Cross and L A Cross. Silverman Huyck of Cincinnati 50000 dollars by W H Silverman and D M Silverman. Sylvan Realty of Cleveland 10000 dollars by Glenn D Ettinger and Milton S Koblit z.
New York items show evaporated apples dull while prunes wait. Apricots and peaches are quiet and raisins hold steady in trading notes dated June 6.
New York June 6 stocks drifted through a dull session with slight late gains of 1 to 4 points as demand remained tepid for favorite issues. Domestic factors such as dividend cuts by copper miners and Mercantile Marine delays influenced sentiment, while rails faced fears over Director General powers. Total sales were 530000 shares and par value $6,375,000 with uneven bond activity.
The column lists official quotations for bonds and stocks trading on the Cincinnati Stock Exchange floor. Bonds include Bio. Ark. Columbus Railway 46 1939, Cin. Gas Trans, Columbia G. & My, and Columbus Ry P. & L. stocks feature American Laundry Mach, American Rolling Mill, Chas. Boldt Glass, Champion Coated Paper, Fleischmann pref, Globe-Wernicke, Gruen Sons Watch, Henderson Litho, Joslin Schmidt pref, Manshchewitz pref, National Acme, Owens Bottle Mach, Paragon Refining, Procter & Gamble, Richardson Paper, Sayers Scovill pref, U. S. Ptg. & Lith., William Powell pref, Cincinnati Gas and Electric, Cincinnati Gas Transportation, Cities Service, Columbia Gas and Electric, Ohio Cities Gas, Ohio State Telephone, Dayton & Michigan, Cincinnati Street Railway, Citizens National, First National, and Second National banks with ex-dividend noted.
New York June 6 The raw sugar market remains steady at 4.985c for Cubas cost and freight equal to 6.005c for centrifugal Purchases for shipment this month have been fair and no tonnage shortage yet reported The International Committee logged purchases totaling 48 300 bags of Cubas and 82 550 bags of San Domingos In refined sugar demand remains light and hand to mouth with prices unchanged at 7.45c for fine ablated.
Bank clearings rose to 8.6 million dollars with tax payments flowing into government depositories and Ohio pensions due this quarter. Banks anticipate heavy tax and bond payments, with some calling loans and considering a single large payments day. market activity shows mixed reactions across bonds and equities as traders adjust to the tax time strain. Claude E. Ford, savings manager at Fifth-Third National Bank, again appears as he recovers and will miss duties until July.
The article notes calls for Friday and Tuesday June 11 for income and excess profits tax payments in cash and Treasury certificates. It reports large Liberty Loan activity, farm loan bond withdrawals, and rising prices in 3s and 4s with closing quotations. Porphyry dividends fall, while Utah Copper, Chino, Ray, and Nevada Consolidated show varied moves. Dividends are declared by Twin City Rapid Transit, Allig Chambers, American International, American Steel Foundries, and American Tobacco with payable dates in July.
Receipts and shipments for 24 hours compare with prior days across cattle hogs and sheep in Cincinnati and other cities. Markets show quiet trading with prices largely steady or slightly lower. strong demand for choice cattle and shipping calves, while hogs show broad declines on many weights and regions.
Bank clearings in Cincinnati totaled 8 595 238 with gains from yesterday and limited stock market activity on the floor of the Cincinnati Stock Exchange. Call loans scarce with private funds at 6 to 7 percent, commercial loans around 6 percent. In St Louis clearings reached 23 793 977 with holdings at 5 980 702 and 6 percent loans and paper. Federal Reserve Bank moved New York exchange at a discount.
The Imperial German Bank report from Berlin dated May 31 shows rises in total coin bullion to 216000m and gold to 150000m. It lists increases in treasury notes 16233000m, bills 544325000m, investments 7923000m, and circulation 302441000m with deposits 301478000m and liabilities 44127000m. Total gold holdings stand at 2,845,674m.
In Columbus Ohio on June 6 Cities Service common traded around 212 to 214 and Ohio Gas moves between 38 and 33 percent as market activity shows shifts between utilities and energy issues.
Cincinnati June 6 1918 top grade eggs scarce as decay cuts supplies. Fowls in urgent demand. springers under 1 lb fail to sell. Cheese shows strong demand with high prices. Wheat and grain policy urges storage for possible bad years ahead. Local grain market notes mixed corn oats mill feeds and hay prices amid tight supplies.
An iron industry observer in Washington estimates government demand will surge, with malleables in surplus and gray iron output exceeding immediate needs. The article stresses war-driven production, rising costs from higher wages and freight, and the priority of supplying government needs over profits.
The partnership formerly known as the Mozart Haulage Company at 1031 Courtland Street is dissolved by mutual consent. Lewf ord F Morrison is authorized to settle all debts of the partnership with Cincinnati Ohio given as of May 20 1918. Anthony Artner signs alongside.
The city of Cincinnati announces the estimated assessment forCosby street improvements from Spring Grove to Hamilton avenues. Costs cover grading concrete headers paving drains and inlets on benefited lots. The estimate filed for inspection in the Clerk of Council’s office under Ordinance 43-1918. May 28 1918. by order of Council. Fred Schneller Clerk.
In New York and Liverpool trading on June 6, July cotton rose to 26.52 cents amid renewed covering and strong demand from Liverpool and domestic buyers. Futures closed higher than the day’s low with July near month premiums, while October and later months eased. Exports remain listed at 3,571,664 bales for the season. port stocks at 1,223,331.
Market roundup from Chicago to Philadelphia notes butter and cheese largely unchanged in some cities while eggs rise in Chicago St Louis and Philadelphia. Poultry prices vary with live and dressed birds showing mixed movements across markets.
The New York market showed a firmer Brazil influence and easing across the board as coffee futures declined. September fell to 8.21c and December to 8.38c while July closed at 8.06c. Rio and Santos values also posted declines with Santos reporting a 65,000 bag clearance for the United States. Brazilian port receipts reached 29,000 bags.
We want people to find what they are looking for at NewspaperArchive. We are confident that we have the newspapers that will increase the value of your family history or other historical research. With our 7-day free trial, you can view the documents you find for free.
People find the most success using advanced search. Try plugging in keywords, names, dates, and locations, and get matched with results from the entire collection of newspapers at NewspaperArchive!
You can also successfully find newspapers by these browse options. Explore our archives on your own!
Browse by location and discover newspapers from all across the world.
Browse by date and find publications for a specific day or era.
Browse old newspaper publications to find specific newspapers.