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Newspaper
New York Times
Location
New York, New York, United States of America
Date
Apr 29, 1908
Page
11
Bond men report mixed demand with optimism over the Pennsylvania flotation yet concern it skews pricing of other issues. Some dealers expect junior bonds to lose appeal while overall supply grows, and one leading operator contemplates a prolonged withdrawal from trading.
The cotton market extended a weak, unsettled trend with new seasonal lows and a broad decline. Spot markets show Gulf and upland middling around 10 cents with sparse sales. Norfolk Augusta New Orleans Houston Galveston report varied moves and volumes.
United States Steel Corporation announces quarterly net earnings of 18,229,005, down from 32,558,005 the prior quarter and 39,367,? last year. March gains over February, but overall quarter shows reduced funds after dividends and depreciation. Directors reelect officers and George F. Baker to the Finance Committee.
Special to The New York Times reports bonds in some demand with prices firm and generally little changed. United Railway Income Bonds recovered losses with a full point gain while other United Railway bonds rose fractionally. Northern Central Railway stocks advanced 1 percent. The A. C. L. of Conn. moved up to 195 as shares and bonds traded around 345 and $88,000 respectively.
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