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Newspaper
Cincinnati Commercial Tribune
Location
Cincinnati, Ohio, United States of America
Date
Jun 27, 1907
Page
7
Wall Street reversed some gains after an earlier upward movement as profit taking rose. The market showed mixed strength with banks easing in London and a looming New York City bond issue. traders awaited July money movements and government deposits withdrawals for half year effects.
American stocks in London are quiet with little movement toward parity while the London market shows a cheerful tone. Strength appears in foreign bonds and Rio Tinto as Telegraph companies report minimal disruption from strikes. Great Northern earnings for the year are expected to set records with Brooklyn Rapid Transit noting net earnings.
The article notes a possible dividend action by Steel directors at a meeting next month. It mentions a June quarter earning report to be released and references changes in gold export movement and a Missouri Pacific uptick of 80000 dollars for the third week of June.
Brokers report little public buying as investors wait for sustaining prices and July 1 dividend funds. Analysts predict average crops for main cereals, with renewed reinvestment likely in the next week or two as crop prospects improve.
A mixed session ends with a lower close after an active morning rally. Analysts from Foster & Co and Brown & Co forecast improved outlooks and potential rallies on dips. Profit-taking prompted cautious trading while W. R. Todd & Co noted a quiet close with modest losses.
The listing shows varied bond sales across multiple issuers including Cen Ga Colo Ind and Del Hud conv with figures ranging from 1,000 to 83,000. Several rail and short line bonds such as Oregon Short Line and St L & St F ref bonds appear with modest totals amid a market snapshot.
The Western German Bank declares quarterly and extra dividends payable July 1. Chesapeake & Ohio may issue 15 to 25 million in short term notes, delaying road construction. American and United States Express sign to handle Cincinnati business over Lake Shore route. Frank G. Tullidge Company incorporated to run whisky business. Cincinnati Tobacco Warehouse declares 1 percent dividend payable July 15. Railroads to announce two cent per mile rate amid efforts against two cent state legislation. Local officials comment on brewery consolidation rumors. Counterfeit half dollars circulate. Foraker elected president of Cincinnati League. July 8 director election planned. Manufacturers' Club officers to be elected. Railroad assessors set appraisals across multiple divisions. Bosworth receives well-wishes for Europe trip. Liquor license rush continues. revenue office increases staff. Local dry cleaners challenge new gasoline ban with legal counsel.
The stock market shows firm traction with Cincinnati Street Railway and Toledo Railways lifting the list. C N & C and C S Ry led demand with several large blocks traded while bonds moved fairly and exchanges totaled $5,684,200.
London and European markets show gains with stock prices firming after improved New York prices. Home rails rise on investment demand while overseas issues hold. profit taking trims some gains. Currency and discount rates hold steady amid a generally positive tone across Paris Berlin and London.
New York reports money on call steady at 2 1 2 percent with 3 percent ruling rate and demand at 2 1 2 percent. Sterling exchange weak with bankers bills around 487.05 for demand and 483.75 for sixty days. Boston notes show mixed bonds and varied quotes across railroad stocks and industrials, including Atchison 4s around 85 1 2 and Mexican Central around 19 1 2 percent.
The report shows dull London tin with spot at £182 10s and local activity steady to higher in copper and zinc. Lead eases to around $5.62 locally while spellers hold at £24 5s in London. no material change in U S local lead figures. Iron prices rise in England while U S foundry copper shows narrow moves, with Northern grades quoted near $24.50 to $25.70 for No 1 and $4 to $4.50 for No 2 foundry copper.
A dense list of bank stocks, trust companies, savings institutions, and regional firms sits with varied prices. Traction bonds and unlisted securities appear, including several railroad and industrial issues, along with ex-dividend notes scattered through the sheet.
W R Todd & Co notes they are not bearish long term but foresee a possible second recession after a swift 55 to 40 BE move. Market eased further aided by Georgia crop report and selling by a local Wall Street house, seen as signaling a bearish Giles report next week by Foster & Co.
New York trading shows nerves with a net decline of 4 to 5 points while indices fluctuate on near and far months. Weekly receipts around 25,000 bales, Southern markets unchanged, and New Orleans and Liverpool futures quotes hold steady amid weather and crop conditions news.
Cincinnati market report for June 26 1907 shows good receipts and shipments but weak demand. Cattle and butchery goods sell slowly with prices barely steady to lower. medium weight steers weak. prime heifers scarce yet steady. grassy stock unwanted. overall market conditions dull with mixed to lower values versus previous days.
Chicago and surrounding markets report cattle and hog receipts with steady to firm prices for packing and butcher grades. Hog prices hover around 5.90 to 6.15 for prime and mixed lots. sheep and lamb values mostly steady, with lambs showing activity at higher end and yearlings weaker. Regional totals show Monday to Wednesday receipts varying by market, with overall supply described as fair to good and meat buyers remaining cautious.
Market notes from Kansas City Philadelphia Chicago and New York show firm butter with steady to firm prices in Western and New York dairy markets. Eggs hold at mark with mixed gains and cases accounted. poultry remains steady with turkey and chicken prices varying by region.
Dry goods jobbers report satisfactory clearance of staple domestics printed silk piece goods linens and lower priced white goods. Dress goods are slow and underwear hosiery sales are solid for spring while fine cotton goods stall as mills withhold staple cotton awaiting crop conditions.
New York market quotes list multiple securities with small price changes including Adams Con Alice Brunswick Con Com stock Tunnel Cal and Va Horn Silver Iron Silver Leadville Con Ontario Potosi Sierra Nevada and Standard. The text shows fractional prices and irregular formatting.
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