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Newspaper
Cincinnati Commercial Tribune
Location
Cincinnati, Ohio, United States of America
Date
Jun 19, 1907
Page
8
The stock market showed indifference with early gains faded by hour one as money markets hardened on anticipated gold exports to Paris and depleted reserves. Reports from Reading and Union Pacific fueled selling while bonds remained steady and analysts expected cautious trading into month end.
American stocks in London sit just below parity as Consols slip to 83 1 2 the lowest price of the present movement. United States Steel likely to report 7 500 000 tons unfilled orders at half year close. Paris London gold engagements easing on the export balance while sterling demand rises. Canadian Pacific shows June week gain of 343 000 dollars and railway declared dividends in gold engagement notes.
Brokers report afternoon weakness in Jersey Central and Reading stocks with declines of five points and two percent as buying power wanes. Traders advise purchases on further dips and selling on rallies while noting reduced floating stock and a potential for a healthy advance. International gold moves and Paris engagement announcements add cautious optimism for room traders.
New York money on call steady at 2 1 2 percent with twenty four to two for call. time notes steady at 4 percent for sixty and ninety days. six months at 4 1 4 percent. Sterling exchange firm with bankers’ bills near 487 35 to 487 40 for demand. Boston reports call loans 4 to 5 percent and time loans 6 to 6 1 2 percent. Various bonds and railroad issues quoted with mixed levels across Atchison, Mexican Central, Union Pacific, and other names.
The London tin market shows a sharp advance with spot at £190 10s and futures at £183 10s. Copper and other metals edge higher in London while U.S. local markets hold firm with lead and spelter steady. Separate St. Louis report notes lead at $5.65 and spelter at $6.35 to $6.37 1/2.
Special cables from Brad street show declines in grain stocks US east of the Rockies and Canada totaling 2 312000 bushels with Europe and America down 3 512000. Oats drop 1 287000 in US and Canada while corn rises 1597000 bushels. Notable decreases include Manitoba and Chicago elevators. increases seen in Louisville and Portland.
The Boston market shows mixed gains and declines across a broad list of mining and metal companies. Notable percentages include Calumet and Hecla at 775a780 and Isle Royale at 15, with copper, oil, and coal firms like United Copper and United States Oil posting varied results.
Treasury balance report from Washington dated June 18 lists available cash at 259,987,278 dollars gold coin and bullion at 83,122,203 dollars and gold certificates at 61,803,130 dollars. excludes 150 million dollars gold reserve.
The market shows varied bid prices for bonds from Rhode Island to Wisconsin, listing issues from railroads like Pennsylvania, Union Pacific, and Western Pacific Steel. Prices range from about 85 to 112 percent with several 4s and 5s notes trading, totaling numerous thousand dollars in sales.
The National Association of Piano Manufacturers opened its annual Chicago convention with Cincinnati delegates inviting the next gathering to Cincinnati. Notables include H W Crawford Frank A Lee Dawson Blackmore and G W Armstrong. Also noted were business meetings at the Business Men's Club and new Metropolitan Bank officers.
Global markets showed subdued activity with Imperial bonds around 70 and 72.7 in Paris and Berlin. London money eased while U.S. stocks rallied on New York hints, led by Union Pacific and Reading as investors eyed gold shipment risks and favorable crop news.
Boston reports larger sales in fine wools boosting overall activity while domestic trading stays subdued. Ohio Michigan markets show higher bids reaching 30c for medium wool in spots. quotes list varied fleece and combing prices across many Grades. St Louis notes steady wool with medium and fine grades quoted and tub-washed types at 30 to 37 cents.
Butter and eggs hold steady with fair demand across markets in Philadelphia Kansas City and New York. Cheese weak in Philadelphia and Chicago reports show light demand. Poultry prices dip slightly with alive markets weak and dressed levels easing in the West and Midwest.
Coffee futures in New York opened steady with a small gain as foreign cables stay firm and Brazilian markets rise slightly. Sao Paulo government plans to destroy new crop attracted little attention while the market remained quiet and closed steady to 6 points higher. Daily sales reached 19,750 bags with various months quoted from 5.10 to 5.35 cents per pound. Spot markets showed Rio No 7 6 percent, Santos No 4 7 percent, and Cordova trading softly.
An unusual clipping from New Orleans notes a steady open kettle centrifugal trifugal yellow c and seconds of quiet pew sirup described with coded phrases. details are sparse and unclear in the readable text.
Financial desks report minimal trading across major markets. Cincinnati clears $4,537,200 while New York par to 10c, bonds show limited demand, and only a few stocks change hands.
Minneapolis cash wheat closed at 99% while other grains soften with limited demand. Oats and rye traded quietly as flour held steady, hay prices drifted lower amid seller concessions, and whisky sales noted. Grain movements include mixed car receipts and notable prices for corn and white oats.
Cattle market in Cincinnati on June 18 1907 shows steady to light demand with sizable receipts. Prices for various cattle types ranged from canners and stockers to high quality heavies, while hogs and sheep markets also posted modest gains and general steadiness amid varying local demand. significant regional receipts mirrored in St Louis Kansas City and New York summaries.
Cattle prices quoted in Omaha Pittsburg and East Buffalo with receipts ranging from 3 000 to 8 000 head. Hogs sold mostly 5c higher with pallger prices around 5 95 to 6 27. Sheep and lambs seen steady to slow with lambs near 6 7.50 and sheep 3 50 to 6 50.
Toledo reports seed prices with Clover cash at 9.25 for June, 8.10 for October, 7.97 for December. Alsike 3. Timothy 2.35.
A grocery price slate lists fruits and vegetables with varying rates. Apples 6.50 per 7. lemons 4.50 per box. bananas 1.75 per first bunch and 1.00 to 1.50 for seconds. oranges 2.00 California. beets 30 to 40 cents per dozen. potatoes 80 to 85 cents per bush. onions 2.25 to 2.50 per crate. cabbage 1.75 to 3.50 per crate. sweet potatoes 4 per barrel. cherries 2.50 to 3.50 per crate.
A. O. Brown & Co and Foster & Co report divided sentiment on cotton with mixed South winds and a scalping near term market. They warn weather will drive July and August outcomes and advise buying on dips and selling on bulges as the crop prospects depend on favorable weather.
New York reports a firm afternoon finish with a net advance of 6 to 11 points as better cables and dry heat in the Southwest boost buying. Trade estimates show 300,000 bales sold. October futures reach 11.55c, while October gains 17 to 19 points before end of day.
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