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Newspaper

New York Times

Location

New York, New York, United States of America

Date

Dec 05, 1902

Page

12

Outside Securities in New York Stocks and Markets

Special to The New York Times from Boston reports banks raising call money to 5 1/2 percent with time money at 6 percent. Sterling exchange quiet. Clearing House rate 6 5/8 percent. New York funds discount 2 1/2 to 2 1/2 percent. stock market slow and soft with little change. Northern Securities draws attention as most active. Calumet rallied to 424 on light volume. American Barrel and Package quoted but not yet delivered.

New York Times Boston Sterling Exchange New York Calumet Stock Exchange

Quotations from Government Bonds and Stocks in a Late Issue

The page lists closing bid and ask quotations for government bonds and numerous stocks with many entries. Prices for bonds such as 4s of 1904 and 5s of 1907 appear alongside equities like Adams Express Alb. & Sus. Allegheny & Western and Amalgamated companies, reflecting the market snapshot of that period with varied yields and transaction gaps.

Aaked Ae Askes Iid Baty Re WHS. Wtty WSRK BS Asse Adams -Exp Allis Chalm Lst Siky Pat W. Co OW. Co Ann Arbor A. M Ya. L B. UN. Gas Bruns Tey Br. & P R. & Pactsoned Tt Tierick Co R. R Busdssas Bb & Qiss Eee & E Cc. G. W. Pt Vasa

Financial Market Totals and Rate Figures

The report shows year to date stock and bond totals with a separate last year's corresponding figures. It lists money rates for collateral loans on call at 3 and 6 months plus commercial paper terms, and notes small stock and bond changes with a few listed issuers and bonds showing advancement or decline.

Aisi Ea

Market Stagnation Describes Yesterday’s Trading

Market movement shows subdued activity as total stock transactions fall under 400 000 shares. Few quotations change materially with some stocks gaining or dropping up to a point. Money and exchange rates hold steady. railway earnings improve broadly while general business reports remain favorable. Selling pressure from short sellers hard to locate as commission house activity declines and typical traders wait.

Stock Exchange Wall Street

Foreign Crop Shortfalls Signal U S Trade Impact

Disclosures of shrinking foreign harvests grow clearer from the United Kingdom, France, and Germany. As forecasts revise downward, foreign purchases of American crops rise out of necessity, with exchange rates showing potential favorable shifts.

Wall Street America United Kingdom France Germany

Wall Street Shares Slump Amid Professional Trading Ties

Market observers note St Paul leads the session with the afternoon decline as traders focus on professional actions over fundamentals. Reported shifts by Gould interests fade, while Rock Island dividends, Lackawanna, Great Northern and Colorado Fuel move sharply on limited buying and large lot selling.

St. Paul Thore Gates Louisville Nashville New Rock Island Rock Island Gould Manhattan Missouri -Pacific Texas Pacific Lackawanha Great Northern Preferred Colorado Fuel

Local Railway Shares Trade Amid Steady Liquidation

Local market activity in Manhattan and Brooklyn Rapid Transit shares shows steady liquidation with no standout features. Investors expect settlement of value as money markets hold and full 7 percent dividends are not yet paid. A floor wager at the Exchange predicts Metropolitan will cross Manhattan by year’s end, reversing earlier bets.

Manhattan Brooklyn Third Avenue Exchange

Wall Street Sees Shifts Before Tightening Rules

Months earlier, Wall Street activity showed signs of change as markets anticipated stricter inquiry and regulatory stringency. The report notes shifts in trading, capital flows, and investor sentiment ahead of the new policy environment.

Wall Street

Bankers and Brokers Warn of Rising Rates After Squeeze

The banking and brokerage community once claimed no money squeeze and that markets could be easily stabilized. A severe stock liquidation followed, and now they insist that relief requires notably higher rates, possibly near prohibitive levels, fueling professional gloom about the near term.

Market Ends With Little Real Movement

At the close yesterday the market showed mostly declines, but the heaviness proved mainly artificial. Most activities were professional trades without real market impact, with no strong selling pressure or broad buying interest beyond traders transacting among themselves. The overall scene is a sagging market with major interests largely inactive.

Bearish pros discount likely bad bank statement next week

Market action yesterday shows professionals in control again turning bearish and discounting what many expect to be a very bad bank statement next Saturday. Sub-Treasury gains, gold shipments to South America, and currency shipments inland drain local bank resources, with street prophets forecasting an unfavorable report.

South America

Pig iron market outlook from Rogers Brown & Co

Rogers Brown & Co report a quiet pig iron market nationwide with most buyers having secured half year contracts in August and September. October and November focused on fulfilling delinquent deliveries, while large buyers and new work keep minor business active. Furnaces face transportation and material pressures, but consumption holds firm and factory backlogs persist.

Rogers, Brown & Co Pennsylvania

November Bank Clearings Summary by Bradstreet's

Bradstreet's notes November bank clearings were of full volume despite two holidays. The month's aggregate exceeds last year, driven by New York, Philadelphia, and Far West cities, while Boston, Chicago, Minneapolis, St Louis, and Baltimore show declines. Eleven months total near last year. year may match or exceed 1901.

Boston Chicago Minneapolis St. Louis Baltimore New Slingland Northwest Southwest Bradstreet

Lead Merger Perfected by National Lead Company

Merger of U S lead manufacturing concerns is practically completed after a three month formation period. Directors of the National Lead Company will meet on Thursday December 11 to formalize the plan. The capital will rise to 15 million preferred and 30 million common, with 20 million in bonds issued, giving control over most lead production including pipe sheet white lead and shet.

United States National Lead Company

Farson Leach Firm to Erect Cedar Street Bank

Farson Leach Co will build a bank building for their own occupancy at 60 Cedar Street. Charles A. Gould conveyed the property yesterday to A. B. Leach for a nominal sum. actual price about 150000. The firm currently tenants on ground floor of the German American Building at Liberty and Nassau. Purchase negotiated via broker John N. Golding.

Farson, Leach & Co Cedar Street Charles A. Gould A. B. Leach Liberty and Nassau Streets John N. Golding

New European Monetary Convention ratified by deputies

PARIS Dec 4 The Chamber of Deputies ratified today an additional monetary agreement as part of the new European monetary convention. The move signals broader fiscal alignment among member states, though details of the accord remain under discussion as negotiators seek to finalize terms and implementation timelines.

Paris Chamber of Deputies

Convention Allowing Silver Coin Issue By Four Nations

A convention among France Italy Belgium and Switzerland authorizes each country to issue additional silver coins totaling 2,500,000 dollars in value.

France Italy Belgium Switzerland

Wall Street Topics and Industrial Moves Across America

Bank of England keeps discount rate unchanged. Baltimore reports start next week on Western Maryland tidewater construction. International Bleaching and Refining Co to be formed in New Jersey with 1 000 000 capital to process sugar. Racquette Lake Railroad asks to cease operations Jan 1 to May 1. Pittsburgh dispatches say principal and bolt companies to seek merger. Atlanta Terminal Company of Georgia applies for charter with 500 000 capital to run a short line to connect with Atlanta lines. Knoxville Iron Co abandons Harriman plant and moves machinery to Knoxville for new works costing over. D. Lawrence and Lowell Street Railroad Co organized in Lawrence Massachusetts with 200 000 capital. Southern Pacific plans strong focus on Texas tobacco development. Ontario Sugar Co reports first beet sugar from Berlin plant. Muncie Indiana: American Window Glass plant shut indefinitely. workers to other company plants. United States Cast Iron Pipe Co completes largest pipe contract in U S with eighteen miles of four foot mains for Brooklyn. First dividends declared by American Snuff Co and by St Louis and San Francisco Railway on Chicago and Eastern Illinois stock.

Money and exchange rates in regional financial report

Money on call 34 7 per cent closing at 34% with most loans at 6 per cent. Time money 6 per cent. Mercantile paper rates 66 2/3 per cent for 60 to 90 days indorsed bills receivable, 66 2/3 per cent for prime single names, and 6 1/2 per cent for others. Clearing House exchanges $272,177,924 balances $11,503,451 Sub-Treasury credit balance $416,982. London money on call 2 1/4 and 3 per cent. discount open market 2 1/2 to 3 per cent. Foreign exchange steady. Posted rates $4.84 for sixty days and $4.88 for demand. Actual business rates sixty days $4.8314 4.835g, demand $4.8714, cables $4.87. Commercial bills: francs 5.18 5-16 and 5.16, reichs marks 94 11-16 and 95 3-16 95, guilders 39 16 389 15-16 and 40 1-4 4083-16. Exchange on New York at domestic centers: Chicago premium, Boston 2/3 20c discount, New Orleans commercial $1.25 discount, bank par, Charleston 1/16c discount, selling 1/16c premium, Savannah buying 1c discount, selling par, San Francisco par, telegraphic 24 1/4c premium.

Mercantile Learing House Sub- Treasury London Frances Reichsmarks Guilders New York Chicago Boston New Orleans Charleston Savannah Lsc San Francisco

London Market Special Cablegram Tallies Daily Money Flows

The Times reports money was easy with cash ample then waning as sovereigns left the Bank of England. Gold shipments to South America are possible while stock activity remains small yet cheerful. Silver prices steady at 21 1/2 d per ounce and mining stocks hold steady amid mixed American rails performance.

London the Times Bank of England South America Stock Exchange

Paris and Berlin market roundup on December 4

Prices opened firm in Paris on December 4 with gains across internationals, rentes firm, Spanish 4s rising, Spanish rails favored, Suez Canal shares and French rails bought, Rio Tinto and Industrials advancing. In Berlin prices were firm in general, Canadian Pacific up on New York tips, and locals improved as Bank of England rate unchanged.

Paris Rio Tintos Kafirs Irm Exchange London

Bank of England Weekly Statement Changes Displayed

London December 4 Bank of England reports a fall in total reserve by 1 016 000, rise in circulation by 281 000, bullion down 735 346, other securities down 1 060 000, other holdings down 187 000, public deposits down 1 822 000, notes reserve down 1 021 000, and Government securities unchanged. Proportion of the banks holdings noted.

Bank OF England London

Reserve to liability rate unchanged amid weekly shift

The reserve to liability stands at 42.34 percent, down from 42.66 percent the previous week. The rate of discount remains steady at 4 percent.

Bank of France weekly statement figures reported

Paris December four indicates notes in circulation rose by 53.9 million francs while Treasury current accounts fell by 71.4 million francs. Gold on hand declined by 2.25 million francs and bills discounted dropped 179.675 million francs as silver on hand rose 0.775 million francs.

Paris Bank of France Treasury

Chicago Quotations on December New York Exchange

New York exchange quoted a premium of 10 to 20 cents with time and call loans at 6 percent. North Chicago Street Railroad plunged to 162 on light demand and uncertainty over franchise legislation impacting Union Traction and related lines. Swift declined on light selling while other issues remained dull and downward. multiple stocks such as American Can, American Canal, Chicago City Ry, Chicago Edison, and National Biscuit showed varied quotes amid a broad market softness.

New York Times Chicago New York Exchange North Chicago Street Railroad Company Union Traction Swift Eee American Canal Canal Chicago City Ry Isesse Chicago Edison Chicago Pneu. Tool Lake St National Biscuit United Box Board

Trading in Baltimore Sees Railways Rise Amid Market Slump

In Baltimore on December 4 the strength of United Railways earnings steadies the market as semi annual interest was paid last Monday. Bonds may approach 70 before February first and buyers must meet holders demands. Money on call around 6 percent and daily transactions total 585 shares.

New York Times Baltimore United Railways

Shaw Report Draws Attention From Berlin Papers

Secretary Shaw's report is widely discussed in Berlin with long abstracts. The National Zeitung, a premier financial authority linked to the Reichsbank, argues that recurring U.S. money crises stem from lack of a central note issuing bank and that Shaw's measures failed to ease the money market tightness.

Berlin Shaw National Zeitung Reichsbank United States

New York Incorporations Listed in Albany

Albany December 4 The following companies were incorporated today Harris Brothers New York department stores capital 70000 Directors Solomon Harris New York Marcus Harris and H T Harris Hornellsville Childs New York restaurants capital 1000 Directors Ellsworth Childs and D R Horton New York F O Hendrick Orange T B Chase Co New York flour feed and grain capital 20000 Directors G B Hollister and J A Chase New York O A Westfall Mt Vernon San Juan Fruit Company Dunkirk capital 100000 Directors A W Cummings J T Badgley and N E Beardsley Dunkirk Niagara Transfer Railway Company Buffalo twenty mile steam surface railroad capital 200000 Directors J C Conway W H Alport and Tracy C Becker Buffalo Leighton Gillette Manufacturing Company New York automatic machines capital 20000 Directors W T Leighton and H P Gillette New York E M Whitney Rochester Hutches Co New York medical instruments capital 15000 Directors W J Lee C H Hull and Charles Harwood Brooklyn Kleenad Company New York contractors capital 50000 Directors W B Shearman Nathaniel Proskey and J B Wyatt New York M D Williamson Company Esopus coal wood lumber capital 50000 Directors M D Williamson F H Herr and A R Williamson New York International Wireless Telegraphy Company New York capital 10000 Directors Isaac Neberger and A W Rose New York M J Kenny Summit N J Mohawk Brewing Company Lancaster capital 50000 Directors L E Desbecker W R Pooley and J F Smith Buffalo Chapin Construction Company Brooklyn engines and boilers capital 1000 Directors Harry Weisner H M Hall and A A Grady Brooklyn

New York Times Albany Dee Harris Brothers New York Capital Solomon Harris Marcus Harris H. T. Harris Hornellsville Childs Ellsworth Childs D. R. Horton F. .O. Hendrick Orange T. B. Chase & Co Leighton-Gillette Manufacturing Company W. T. Leighton H. P. Gillette E. M. Whitney Rochester, Hutches & Co W- J. Lee C. H. Hull Charles Harwood Brooklyn Kleenad Company W. B. Shearman Nathaniel Proskey J. B. Wyatt M. D. Williamson Company Esopus M. D. Williamson F. H. Herr A. R. Williamson International Wireless Telegraphy Company Isaac Neberger A. W. Rose M. J. Kenny Summit N. J Mohawk Brewing Company Lancaster L. _E. Desbecker W.R. Pooley J. F. Smith Buffalo Chapin Construction Company Harry Weisner H. M. Hall A. A. Grady

Insurance Interests Notes and Appointments

The Citizens Insurance Company of St Louis seeks admission to the Chicago Insurance Survey Bureau. Commissioner-elect Host announces W G End as Deputy Insurance Commissioner and W L Essman as chief clerk of the Wisconsin department. The American Mutual Benefit Association of Chicago absorbs the Freeport Accident Association of Illinois. The Kansas Union Life Insurance Company of Topeka, capital $100000, applies for licenses to operate as an old line life insurer in Nebraska and Missouri.

Citizens’ Insurance Company of St. Louis Chicago Insurance Survey Bureau Wisconsin State Insurance Department W. G. End W. L. Essman American Mutual Benefit Association of Chicago Freeport Accident Association Ilinois Kansas Union Life Insurance Company Topeka Nebraska Missouri Old Line” Life Insurance Company

Delaware Charters Granted to Four Firms in Dover

Special to The New York Times from Wilmington Delaware December 4 says four charters were granted in Dover. Union Bottling Company of Wilmington will manufacture and deal in alcoholic liquors with capital of 50000 dollars. Empire Paper Company of New York will manufacture strawboard and straw boxes with capital 100000 dollars. Betts Supply Company of Madeira Pennsylvania will engage in a general manufacturing business with capital 10000 dollars. Mexican Oil and Exploration Company of New York City will develop oil and gas lands with capital 9000 dollars. Incorporators listed as G R Grogan William Wavna FB Go Klein.

Delaware Wilmington Del Dover Times Union Bottling Company of Empire Paper Company of New York Betts Supply Company Madeira Penn Mexican Oil and Exploration Company of New York City G. R. Grogan William Wavna Go Klein

Bullion and mining prices and narrow stock quotes

Bar silver was quoted in the London market at 21 1/2 pence per ounce and in New York at 47 1/2 cents per ounce. Mexican dollars were listed at 27 38 in the Consolidated Exchange. Shares traded included Alice 25 cents, Best & Belcher 80 cents, Consolidated Imperial 2 cents, Gold Dollar 5 8 tenths cents, Hale & Norcross 21 cents, Kingston & ee 16 cents, Mexican 50 cents, and Pharmacist 1.10 dollars per share.

New York Times San Francisco Belcher Best & Belche Caledonia Lo Chollar Cal & Va Imperial Serene Crown Point Ceeseeraeeesees Gould & Curry Oonwee Eenee Hale & Norcross Julia Justice OL of Kentucky Lady Washington Overman Potosi Savage See Ee Sag Belcher Seweseererseseee Sierra Nevada Sewnee Nene Utah Gardner Colorado Springs Col., & Co Dante Elkton Paso J.uittle Puck Mollie Gibson Mary Cashen Moon New Haven Pinnacle Sewer Eere Portland Rose Maud Rose Nicol London New York Consolidated Exchange Alice Best & Belcher Consolidated Imperial Kingston & Eee

Also Mentioned on This Page

Outside Securities Boston Stock Market Atchison . Ee Atchison Pf Boston & Albany Ae Boston Elevated Orecelot Boston & Maine Mass Electric N & Ery Old Colony Ae Pere Marquette Eter Agri. Chem. Pf Fpney American Sugar American Woolen Riva Iron & Steel General Electric Houston Elec Merrim’k Mfg. Co. Sights Soc Swift Packing & Prov United Fruit United Shoe Machine Wee Shoe Machine Pf Eer S$ Rubber Pfaw Eenee Ao Steel Th U. S. Steel Pf . Iy Mining Adventureeee Eee Nee Allouez Teem Eeewere A2 Amalgamated Sekans Bee Aee Bingham Eed Lg Alot A Cal, & Hecla Asceeses Centennial Eimedogeia Ey Lee Central Oil Daly West Cevseeeere Guanajuato Montreal Dominion Osceola Parrot Sae Quincy Tee Rhode Island Santa. Fe Tamarack Trinity Eeaee Coal & Oil Utah Ee Washington Winona Wolverine British Columbia American Am, Light & True American Tobacco Bay State Gas Er Rey British- Columbia Champion Oil Camden Land Sete Eee Itt Consolidated Refriger Distillers’ Securities Greene Con Hackensack Meadows Havana Tobacco Houston Oil T. R Maine Steamship Manhattan Transit National Enameling Amer. Lum. & Purp Northern Securities Otis Elevator Pac, Pack Nay Pee, Decatur & Evans Seaboard Air Line Standard Oil Tennessee Copper Union Copper Iron C. & Coke White Knob Amer Buffalo Gas New Amsterdam Coal & Coke Barrel & Pkge Oey Type Founders Bamberger de Lamar Borden’s California Central Fireworks Vaan Central Fireworks Central Fondry Central Foundry Rubber Tire Saneee Distillers Securities Dominion Securities Empire Steel German Treasury Gold Hill Copper Guggenheim Exploration Hall Signal Tobacco Houston Oil PE Interborough Ae Inter Mercantile Mar Inter Mercan Mar Mer Mexican Nat. Construction Glyco Gly New England T & N J. Talween Li & P N.Y Q. E.L Royal Baking Seaboard Air Line of Simpson-Crawford Simpson-Crawtford Southern St. & Tr Eacsee Trenton Votterits Trenton FP Etfs Uz Union Typewriter Union Typewriter I Union Typewriter United Box Board Censece Ee United Copper Seers S. Shipbuilding Senewe . Oo U. S. Shipbuilding U_ S. Shipbuilding U S. Steel New Universal Tobacco Virginia & Southwestern Street Railways Broadway 7Th Ili Brooklyn City R._R Brooklyn Rapid Central Park Con. P Columbus Railway Pf Grand Rapids St. Ry Jersey City H. Eeepe Nassau Electric Ninth Avenue R. Seeee North Jersey St. Ry Salty Louis Transit Fort St Sixth Avenue R. R Go Steinway R-Rid Transit Syracuse Syracuse Rap Rin Union Rv. Ist United Rys St. L. Pf AIM United Rys St. T United Traction United Traction Bonds Wash. Ry. & Electric Wash. Ry. & Elec Wash. Ry. & Leg Sl Gas Companies Ut. & Traction Traction Pf Union Gas Ltd Columbus Gas Consum J. C St. Joseph (Mo St Paul N. Y Syracuse Gas Beaty Syracuse Lighting Syracuse Light Brooklyn Ferry East River Ferry Uoboken Ferry N & Hoboken Ee Tinton Farry NEW York Stock Exchange Mex Cent Ist Inc U.S As Lance Teehee Eeresees M & Sti Dock & Knp Top K&t K& T Pace Trust Atlan & Dan Ohio L. S Erie Elec L.& P Nor & W North Pac Ches & O Oregon Lh & Ponds Fey Till Chi & E Tcs Serehad Chi Mil St Paul River South Ecaeace Seaboard South Pac Cal Col & South Southern Censol Tobacco Wees BesTexas Pac Ran Louisville & Nashv Unified Peenes Shore Com. Cable Consol. Coal. Com Pr. Co Jowa Jowa C Jottet & Chi Kan, & M Nt. Island Man Long Beach el L St Pr Nat B. Pr No. R Mexico Dia M. B N. St T Stu Md Sy & N. Co. iv Ventere Mel North Am North G. M. Co Cc. Co W.-F the Financial Markets TECHS Cee Tlee Ami. Dak & Imp N. W Minne & St Ar & Fay Pacific Mail Sarere Am Ewes Am Pt Pwreeses Pvans T Crease Rep Eere Amal, Copper Nash Am & A al He & Ae Missouri Pacific Ami Nat. Tieai Ami Steel St L. Apacomnia Coppers Ts Penn R R. Weer Leip Iktya F St. E& G St. Ll. S Sloss Sheffield Speeee Southern Pacific Cc Ct & Sien Ay Tenn Coal & F Ls Col. Fueler Ss C. Tr Py Pt Pet Cat Leunion Pacific Union Pacific Pf Consel Gas Cave Tdel United Ryseas Ds A Sr Feealta Nee Ves Pris Sok Wn Mt . S, Realty Pf Even Ar A.ar Chem Tit Narthi Pea Mae Ms Wabash Meas Bas Gee Macau U. S Canada Maryland New Jersey International Bleaching and Refining Company Racquette Lake Railroad State Railroad Commission Pittsburg Principe and Bolt Unitedates Atlanta Terminal Company of Georgia Atlanta Knoxville Tenn Knoxville Iron Company Harriman Lawrence and Lowell Street Railroad Company Lawrence, Mass Ontario Sugar Company Ontario Muncie Ind American Window Glass Company United States Cast Iron Pipe Company American Snuff Company St. Louis and Chicago and Eastern Money and Exchange THE London Market London Times Associated Press Anaconda Atchison Baltimore and Ohio Canadian Pacific Chesapeake and Ohio Chicago Great Western Milwaukee de Beers Denver Rid Grande Rio Grande Illinois Central Louisville and Nashville Missouri, Kansas Texas New York Central Norfolk and Western Ontario and Western Rand Mines Reading Southern Railway Union Pacific United States Steel Wabash Ete Ayres Madrid Lison Bank of France Statement Philadelphia Huntington Broad Top American Railways Sant Dm Electric Co. of Am Finance Co Hunt. & Broa Insurance Co. of N. A John B. Stetson Co Dade Lehigh Valley Lehigh Navigation Pennsylvania Rener Tse Pennsylvania’ Salt Col. Iil Traction Philadelphia Co Railways Co Atenee Susquehanna Steel Cors United Gas Imp. S. Steel Nnaeses Ob Pittsburg Transactions Monon. Light & Heat Monon Water Philadelphia Co. OR Savas Pittsburg Coal Sane Pittsburg Coal Pf River Coal Ss Steel Ee Wwe U. S. Steel Pf Seeeenee Window Glass Seees American Trust Federal National Bank Real Ss. Bye Deans Seaboard Railway Pf Atlantic Coast Line Cceal United Bus. & Elec Colonial Drovers’ & ‘Mechanics Seaboard Ry Ala Eline United Ry Ry & den Colorado Southern Wire Evansville Terre Haute Hocking Alley National Railroad of Mexico Dane Toledo and Ohio Central Denver and Joneens Indianapolis Wee E MR. Shaw Bullion and Mining
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