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Newspaper
New York Times
Location
New York, New York, United States of America
Date
Aug 23, 1908
Page
11
The market shows wild fluctuations in copper and broad activity in early trading with heavy share turnover. Brokers note growing odd lot deliveries in round trades as cautious sentiment persists while bonds display steadier strength and mixed prospects for progress.
Special to The New York Times reports Bay Gas shares eased slightly while interest in the issues remains. The market overall was at a standstill with shares at 165 and bonds around $33,000.
The rise of electric motive power hurts Pennsylvania soft coal operators as railroads cut coal purchases. Despite fears of exhaustion, experts cite vast unmined coal lands, particularly Pennsylvania Coal and Coke Company with about 800,000,000 tons und mined, and predict broader switch to electricity across rails.
Chicago trading opened steady with limited activity as Street's preferred fluctuated before noon and closed near 97 percent. Commonwealth Edison edged up to 108, Chicago Subway gained, and National Biscuit rose late. Swift & Co held at 104. South Side Elevated moved to 48 from 41.
Cotton traded with narrow fluctuations and a modest gain as the market ended barely higher and steady. Sales were around 50,000 bales with the futures curve showing mixed gains and losses across August through March contracts.
Paris close shows 3 per cent rentes at 96 francs 75 centimes and London checks at 25 francs 18 centimes. Bourse prices stay firm as discount raises to 1 percent. Berlin Bosse trading quiet with firm prices.
Frost news in the Northwest trimmed opening gains as prices sagged through the session. Minneapolis fell on arrival of 95 cars of new wheat with 400 to 500 car NW receipts expected tomorrow. No. 2 red wheat traded around 99.5 to 100 cents in New York, with other grades listed. September to May futures quoted near 1.00 to 1.04 dollars. Corn opened higher briefly but closed weak as receipts matched estimates. cash corn quoted around 90 cents in New York and roughly 9 to 9 1/4 cents in elevators.
The official closing quotations for mining stocks today in San Francisco were released, listing price levels and percent changes for key metals and mining companies. The report notes overall market movement and specific gains or losses among prominent miners.
The Pittsburg exchange reported a list of transactions for the day dated August 22. Prices and volumes moved across standard commodities and securities as traders executed purchases and sales, reflecting typical daily activity on the local market.
Cornelius Van Boskerck and Louis Wunder elected to Stock Exchange membership. Denver & Rio Grande Railroad stockholders to hold a special meeting in Denver on Sept 10, with books closed Aug 2 and reopening Sept 11. International & Great Northern receiver authorized to pay May 1 interest on 198000 dollars of Colorado River Bridge Co bonds. Edward O. Stanley, Title Guarantee and Trust Co second vice president, travels through the Northwest to Chicago St Paul Winnipeg Banff Vancouver Seattle Spokane Memoth Hot Springs Yellowstone Park. President Clarence H. Kelley to return from vacation Monday.
The New York Central Railroad opened a fully equipped hospital at its terminal for employee treatment at no charge. It handles 30 to 40 monthly cases, mainly minor injuries from the double level track project, with rapid on site care and swift transfer to Flower Hospital for serious cases.
A bid for cash payment on Aug 1 coupons by George W. Young led Southern Indiana first mortgage bondholders to publish a reply from Anton G. Hodenpyl’s committee. It says the group, formed to protect bondholders, won’t pay a premium to induce bond deposits and notes no receiver action will proceed without advance notice.
Austrian customs report an order from Interior Finance Commerce and Agriculture cabinets forbidding sending live pigeons into Austria to stop potential enemy use in war. National Defense backs the move to curb import of carrier birds. An exception exists for birds with special permits granted only after sender and recipient are fully identified and the purpose known.
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