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Newspaper
Cincinnati Commercial Tribune
Location
Cincinnati, Ohio, United States of America
Date
Jun 11, 1908
Page
8
The New York stock market slid into a rut with total shares traded near a yearlong low. A few speculative favorites led gains while broader participation dwindled as offerings thinned and prices held firm.
American stocks in Dow heavy losses, official steel tax cut of 2 percent to 4 dollars a ton on most products except rails, Taft nomination on first ballot practically assured. Wabash abandons Pittsburg HQ and will rent offices there. receivers moving to Cleveland. Copper stocks in London firm. Western Union to pay cash dividend of percent.
Washington June 10 treasury balance report lists available cash 240,562,767 gold coin and bullion 26,859,053 and gold certificates 34,730,890, excluding the 150 million gold reserve.
Brokers report no stock for sale and a stronger close than the prior session. Analysts predict dullness for days with improved conditions and crop prospects boosting securities. Traders expect a creeping market until the nomination, with calls to buy on setbacks for quick profits.
Ohio secretary of state lists new articles of incorporation filed June 10. Companies include United Film Exchange in Cleveland with $10000. Duplex Mill in Springfield $50000. Modoc Paint in Dayton $50000. Warwick Coal in Cleveland $100000. Wabash Pottery in Rossville $10000. Ohit Telegraph Transmitter in Lima $10000. The Logan Company in Cleveland real estate $10000. People's Savings Bank of Bellville $25000. The Criterion Company in Springfield $10000 moving pictures. Farmers and Merchants Bank Company of Guysville $25000. Pan-American Coal in Newark increasing capital to $50000.
A dated wire note outlines bond offerings and prices in New York trading, listing multiple issues from Indus to Flor and W and others with rates and percentages. The fragmented text notes market activity, par values, and yields as investors gauge demand across industries and regions.
Dr J M Withrow spoke on Schools and School Buildings before the Northside Business Men s Club at Library Hall. The Carriage Makers Club met to arrange plans for its Laughery Club outing Saturday. Bankers Association trip to Charleston noted. visitors registered at the Business Men s Club included W D Stern M L Wolff Charles Hollencamp Henry Zeller Sweeney and Loeb. Internal Revenue official Bettmann bond funds sent to Washington main 275000 special 20000. transfer of office to follow upon bond approval.
A new hot water heating apparatus plant will be installed in Cincinnati within weeks. Incorporation papers filed in Columbus list Dr Arthur Fredricks Fr 8 Goldsmith Charles S Nagel George E Brill and W B Stier as organizers with 1 000 000 capital and 200 employees.
London June 10 markets show ample money and quiet discounts with small stock activity. British rails and consols lead losses amid steady American setback. later NY opening lifts Union Pacific St Paul and US Steel while foreign firms stay idle. Prices firm by close as consolidations and gains offset earlier drop.
London tin and copper prices rose as spot and futures advanced. Local markets stayed steady to higher with several metal types quoted in fluctuating ranges and lead and spelter showing mixed movements.
The Cincinnati market shows active securities with strong notes from Cincinnati Gas and Electric. Trading highlights include New York exchange premiums and steady call loans, with bonds from Cincinnati New Orleans and Texas Pacific active and other local issues trading firm.
The list documents various bonds and stocks with rates and prices including railroads such as Dayton and Ky Cent, unlisted bank stocks like American National Bank and Cincinnati Trust, and traction shares for C and S Bdg. Ex dividends noted for some issues. Other entries include Norwest First and Fifth Third Bank stocks with quoted prices and par values.
Cotton prices steady to higher in New Orleans and New York trading. Spot gains and futures advance amid reports of heavy rains in the belt and possible Red River levee damage, with sales around 1,170 to 1,175 bales on the spot and 150,000 bales across major markets.
Western Union Telegraph Company directors announced a quarterly cash dividend of one half of one percent. The prior quarter paid stock dividends at five percent per annum. The payment is to be made in cash.
The Iron Trade Review predicts further reductions in steel bars and related products after recent cuts, driven by ore price movements and industry cooperation. It notes expectations of a 50 cent per ton maximum drop and anticipates Lake Superior ore movements totaling about 22 million tons, with US Steel handling roughly 14 million tons.
New Orleans June pricing shows Prime cotton seed oil at 47 cents per unit. Market activity and daily fluctuations are noted as buyers and sellers observe the familiar season trends.
Cincinnati markets show wheat easy and corn steady with fair demand. Oats firm on light receipts. rye dull. flour and hay market conditions described with assorted prices and recent sales and inspections listed.
A dense listing of produce and meat prices from apples to hams. Items include apples at 2.50 per pound, asparagus 1 per dozen, bananas 1.75 to 2 per bunch, cantaloupes 2 to 2.25 per crate, onions 10 to 15 cents per dozen, potatoes 3 to 3.25 per bag, strawberries 2.75 to 3 per crate, tomatoes 1 per crate, and various pork and meat cuts with multiple grade terms and price ranges. Many items show regional or brand variants and unit measurements.
In Toledo Ohio on June 10 prices are listed for Clover seed futures. October at 7.42 percent, December 7.33 percent, and March 7.55 percent are shown.
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