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Newspaper
Cincinnati Commercial Tribune
Location
Cincinnati, Ohio, United States of America
Date
Jun 15, 1907
Page
8
Wall Street opened with heavy free selling, shares traded rapidly in the first hour but activity faded. European markets and gold exports pressured sentiment as Readings showed mixed signals while Reading and Union Pacific faced uncertainty amid rail credit fears. Bond activity was irregular and total sales reached $950000 in par value.
American stocks in London show declines as Northern Pacific plans to sell its Burlington equity to Great Northern before a Commerce Commission inquiry. Demand for stocks remains fair in the loan market. June first week reports a 16.15 percent average gross gain across twenty six roads. Treasury surplus rise and a $30 million government deposit recall hinder further gold exports.
Brokers expect stock recovery to continue yet wary of setbacks. Comments describe a lack of market backbone and susceptibility to bear drives, with prices seen as very low and rallies likely to be rapid on an advance. Traders foresee a dull day and advise buying only on declines for modest gains amid bearish sentiment.
The week shows steady movement with limited offerings restricting large trades yet solid general inquiry both domestically and abroad. Prices stay firm with selective parcels advancing, while New Orleans reports firm demand and gradually reduced stocks. crop prospects vary by district.
Demurrage coal remains a weakness in the Chicago market affecting smokeless, Carterville, Duquoin and Brazil coals while other grades show little pressure. Unusual Eastern coal arrivals reflect lake vessel shortages diverting shipments to Chicago. Screenings stay the only strong point with no relief seen for six weeks. Harvest demand looms but buying has not begun. Anthracite shipments remain heavy but demand not up vs last year. Most westbound coal moves under June prices, May delivery possible. Coke market remains extremely weak with ovens delivered at the year’s lowest quotes.
Washington June 14 Treasury statement lists available cash 261,215,358 dollars, gold coin and bullion 85,954,434 dollars, and gold estimates 61,283,170 dollars in the general fund excluding the gold reserve.
The report lists extensive bond activity with multiple issues from M. K. T. and various rail lines and companies. Key items include large blocks of bonds in the 90s to 100s, with totals reaching tens of thousands and many tranches showing high yields or discounts.
Traction shares drew attention on a fair market day with limited buyer interest. The only solid bid came from Cincinnati Gas and Electric. N & C common traded actively around 78 to 79 for blocks, while other issues showed muted activity and bonds remained mostly quiet.
The Ohio Brewers' Association plans its October convention in Cincinnati with August Schantz of Dayton as President and Harry Hess of Cincinnati as Secretary. Cincinnati rail and business news include rate disputes, streetcar plans on Beekman street, and the Jamestown Exposition rate ruling. The National Association of Retail Druggists, InterState Commerce changes, and local club activities are also reported with numerous named firms and individuals.
OCR fragment shows bond and stock notes with percentages and pricing terms such as NLCov 162% Ger NL Npt 150 Cole TM m, Traction Au E C 3% Do pref 96, Edg.pr 137 150, Am ak L.pr 105 109, Ex-dividend.
The New York coffee market opened steady to down 10 points amid softer European trade and Rio de Janeiro losses. Santos rose 50 reis as local longs supplied selling pressure, but offers were absorbed. Volume reached 63,730 bags with varied bids for June to May contracts. spot Rio and Santos prices noted.
R G Dun & Co reports persistent cold and wet weather depressing retail trade nationwide. Yet fall distribution outlook improves with better crops and strong orders for next season. Bank settlements remain heavy. 1906 comparisons show gains over last year and 1905 in major centers.
New York report shows money on call steady at 2 to 3 percent with bills firm, various term rates listed for sixty, ninety days and six months. Sterling exchange firm. government and railroad bonds mixed in New York and Boston markets with notable quotes across financials including United States Steel, General Electric and United Fruit.
Heavy cotton goods were firmer and more active with further advances reported. Wool market quiet with moderate business. Cotton yarns firmer and higher. Trade again hindered by rain across the market.
W R Toda & Co expects further action if weather stays favorable and prefers buying on declines. W E Hutton & Company reports no let up in dry goods despite cold spring, noting cotton as a buy on soft spots. Foster & Co observes a quiet market with long interest mostly liquidated and improved crop conditions.
The New York cotton market closed easy with a net 3.5 point drop after a volatile session. Trading saw 250,000 bales change hands as July and later-months weighed on prices amid favorable weather and reported bullish crop conditions.
Cincinnati June 14 1907 prices and receipts show cattle light, medium demand, steady to stronger tone for dry fed beef with prices ranging up to 6.40 for prime cattle and hogs advancing slightly. Sheep and lamb values softened on unfavorable eastern reports while calves and bulls held near steady levels across several markets including Pittsburg and East Buffalo.
Cincinnati Ohio June 15 1907 The regular quarterly dividend of one and one half percent will be paid on the preferred stock of The Baldwin Company on July 15 1907 to stockholders of record at the close of business June 30 1907 A P Hagemeyer Secretary
New York market report shows receipts across cattle calves sheep and hogs with steady to firmer trends. Cattle steer prices 4.75 to 5.35 dollars with tops to 6.50. bulls 3.00 to 4.75. cows 2.40 to 4.90, live cattle steady while dress beef down. Hogs quoted 6.50 to 6.60. lambs and sheep generally weaker with limited demand. Exports today include 3,000 quarters of beef. tomorrow expectations list 900 cattle and 5,000 quarters of beef.
Boston mining market shows varied performance with several stocks trading ex dividend or with special bids. Notable levels include Calumet and Arizona at 152 bid and United Copper at 63 while Arizona Commercial and Nevada show modest activity.
A compact stock roundup lists values for Adams Con. and .10, Alice 2.50, Breece .20, Brunswick ae, Comstock Tunnel .26, Con. Cal. and Va. .63, Horn Silver 1.6, Iron Silver 2.15, Leadville .65, Glue itiicis ae -80, Potosi.vage -63, Sierra Neo Small Hopes ./ Standard 2.25.
Market notes from New Orleans dated June 4 report sugar and molasses activity. sugar steady, molasses quiet and new syrup available at a basic level. Only fragmentary OCR text remains with limited readable details.
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