Financial Markets Report With Mixed Stock and Bond Moves
The market summary shows mixed stock activity with total stock transactions reaching 373 901 and year to date totals at 175 187 179, compared with 252 589 948 the prior year. Bond trading totals run to 1 649 500 this year with 859 635 850 versus last year’s 941 763 520. Money rates list collateral loans on call at 4 6 percent and three to six month rates near 6 percent. Net stock advances outpace declines by small margins, while bond quotes show selective strength with several issues advancing and others declining.
Market Movement Signals Unedifying Exchange Speculation
Yesterday's stock market showed minimal activity with about 350,000 shares traded, dominated by professional operators. St Paul saw both long and short selling, while one issue, St Paul, stood out in movement yet remained of little consequence. The scene hints at a broader game on the market, leaving sentiment unclear and tainted by speculative activity.
MENTIONED IN THIS ARTICLE
St. Paul
Market faces bank statement interest. corn exports rise
The Street showed concern over the money market and an unfavorable bank statement, while ignoring favorable signs such as the corn export turnaround. October railway earnings rose with New York Central at 590000, Missouri Pacific 218000, Southern 165900, Atlantic Coast Line 335000 gross and 188000 net. No real stock selling occurred despite yesterday's declines.
MENTIONED IN THIS ARTICLE
New York Central
Missouri Pacific
Southern Railway
Atlantic Coast Line
Seer Veesee
Chicago
Great Western
Chesapeake and
St Paul Stock Decline Dominates Market Activity
St Paul led declines on yesterday’s list with heavy selling of 41 000 shares dropping nearly two points from its high. Analysts note high price and leadership as possible short sale factors while Standard Oil interests reportedly sold, yet the broader market felt little impact as banks and life insurers picked up cheap St Paul stock.
MENTIONED IN THIS ARTICLE
St. Paul
Standard Oil
Decline in American Bicycle stock as reorganization outlined
Prices fell to record lows with common at 44 and preferred at 4 1 4 amid news of a near complete reorganization plan. Shareholders face per share assessments of about 2.5 million dollars, offset by new non cumulative preferred stock and conversion of debenture bonds into 6 percent preferred stock.
Sugar and copper stocks drive market swings
North American rose and fell amid volatile trading with a forced close on a weak account. Sugar Trust ex dividend nearly regained its dividend and posted a net gain. Copper Trust saw insider purchases keeping it steady. Western sellers moved Louisville and Nashville and Baltimore and Ohio while Philadelphia houses bought Pennsylvania and Reading.
MENTIONED IN THIS ARTICLE
North American
Sugar Trust
Willett & Gray
Sugar Trade Journal
Louisville
Nashville
Baltimore
Ohio
Philadelphia
Pennsylvania
Reading
New York Investors Steadily Absorb Stocks Evidence Grows
As evidence of growing investor demand, a large share of New York stocks shows steady absorption by buyers. Market activity signals strong confidence as traders push prices higher amid ongoing buying.
MENTIONED IN THIS ARTICLE
New York
Banking houses buy large blocks as stock rush looms
In just over five weeks Philadelphia house with extensive wire connections reports buying 25,006 shares for investors and paying cash, another house reports 20,000 shares purchased. Similar actions from leading banks and brokerages suggest steady off street accumulation, signaling a sharp, possibly higher market when it turns due to scarce floating stock.
MENTIONED IN THIS ARTICLE
Philadelphia
Wall Street Faces Unfavorable Bank Statement View
Today's bank statement is expected to show a large weekly loss across banks, totaling nearly 7 million dollars. Some groups speculate loans may rise again despite slow stock market liquidation and reduced demand for money.
MENTIONED IN THIS ARTICLE
Wall Street
Market Narrowness Stuns Wall Street Signals Slow Day
The market showed extreme narrowness with few transactions outside major rail and steel names. Trading was dominated by St Paul Atchison Union Pacific Manhattan Southern Pacific Pennsylvania Reading Copper and Sugar with seven-eighths of volume occurring inside the Stock Exchange and total turnover around 350000 shares.
MENTIONED IN THIS ARTICLE
St. Paul
Atchison
Union Pacific
Manhattan
Southern Pacific
Pennsylvania
Reading
Copper
Sugar
Stock Exchange
Currency Movement Shows Large Interbank Losses This Week
Messrs Dow Jones & Co report principal currency movements this week show banks losing 6 928 200. Interior receipts and transfers through the Sub Treasury produced a net loss of 6 928 200 after gold imports and exports. Collections at port customs rise during early December holiday trade with a 1 900 000 gold export to Argentina noted as typical for the season.
MENTIONED IN THIS ARTICLE
Messrs. Dow, Jones & Co
Interior
Sub-Treasury
San Francisco
New Orleans
Chicago
New York
Seattle
Argentina
Customs
Internal Revenue
Redemption Fund
Trade Developments Forecast Strong Spring Business
Brad street’s reports a holiday and spring trade boom ahead with unusually high bookings. Winter weather boosts retail demand for wear, dairy, and produce while freight and fuel supplies improve. Dun and Roosevelt comments point to prosperity and new currency hopes. Freight, banking, and manufacturing show gains and larger Fall River dividends amid robust industrial activity.
MENTIONED IN THIS ARTICLE
Bradstreet’s
Bradstreet's
Dun’s
Roosevelt
Congress
Fall River
Canadian Trade Buoyed by Seasonal Weather Across Cities
Halifax notes improved weather aiding staple and country produce sales though apples remain scarce due to a small crop. Quebec trade suffers from closed navigation and poor rural roads while Montreal slows on stocktaking yet remains firm. Toronto sees activity in holiday goods with heavy fabrics dampened by weather. Hamilton shows broad gains and improved payments. Winnipeg reports brisk lines and better payments.
MENTIONED IN THIS ARTICLE
Dun’s
Halifax
Quebec
Montreal
Toronto
Hamilton
Winnipeg
Analysis of Railroad Reports by H C Barnaby
New work on railroad finances draws 130 annual reports from 68 railroads into a uniform set of tables. It presents statistics on physical condition assets and liabilities income expenses equipment and traffic with separate sections for each.
MENTIONED IN THIS ARTICLE
Wall Street
Bonbright & Co. Buys NYSE Stock Exchange Seat
The Western banking house of William P. Bonbright & Co. has purchased a seat on the New York Stock Exchange for about eighty thousand dollars. The main Western office is in Colorado Springs, Colorado.
MENTIONED IN THIS ARTICLE
William P. Bonbright & Co
New York Stock Exchange
Colorado Springs
Col
New York and London Offices Named for Exchange Representation
Ww. E. Frenaye will serve as the representative on the floor of the Exchange, with offices located in New York and London.
MENTIONED IN THIS ARTICLE
New York
London
Cotton Exchange Vote Keeps Exchange Open After Christmas
Cotton Exchange members voted 80 to 5 against closing on the Friday and Saturday after Christmas. The motion failed as it required a two thirds majority. Members felt it was too busy a time to take a vacation though the issue may reappear as holidays approach and trade slackens.
MENTIONED IN THIS ARTICLE
Cotton Exchange
State Banks Report Call Issued by Superintendent
The State Superintendent of Banks issues a call for a report of the condition of all banks at the close of business as of December 4.
MENTIONED IN THIS ARTICLE
State Superintendent of Banks
Industrial and financial moves across North American firms
Four Northern Mexican cotton mills merge into the Industrial Company of the North. Hudson River Power Company stockholders set December 23 at Saratoga to vote on raising capital from 2 million to 5 million. A New Orleans dispatch reports a Cypress land syndicate plans a 5 million dollar Louisiana Cypress Lumber Company plant. Pittsburg sees Fidelity Title and Trust Company doubling to 2 million. Queens County banks vote December 15 to consolidate into Bank of Long Island with 500 thousand capital. Manufacturers' Light and Heat in Pittsburg approves 833 thousand new stock within a 5 million raise. American Finance and Audit Company forms in Pittsburg with 1 million. Mahoney-Blue Lead Copper Mining increases capital from 750 thousand to 3 million. Central Freight Association to meet in Columbus to push freight rate hikes for brick and clay products. Dry goods imports at Port of New York fall by 23 thousand, week over week, but rise 131 thousand versus last year.
MENTIONED IN THIS ARTICLE
Hudson River Power Company
Saratoga
Queens County
Queens County Bank
Long Island City
Bank of
Long Island
Capital
New York Times
Pittsburg
Light & Heat
United States Steel
United States Steel Pf
Westinghouse Air B
Westinghouse E
Cosmo. National Bank
Federal Nat. Bank
Pitts
Money and exchange rates in global markets and domestic banks
Money on call 4 to 6 percent with most loans at 6 percent and time money at 6 percent. Mercantile paper at 6 percent sixty to ninety days indorsed bills receivable, 6 percent prime single names, 6 1/4 percent for less-knowns. Clearing House: Exchanges 224,116,904. balances 9,704,866. U.S. debit 532,946. London money on call 3 3/8 percent. Open market discounts 3 1/8 to 3 percent for short to three months bills. Foreign exchange steady. Posted rates: sixty days 4.8414, demand 4.38. actual business: sixty days 4.8519, demand 4.8714, bills 4.82. World rates: francs 5.18 minus 1/16 9.18 and 5.16 5.1, reichsmarks 94 3/16 to 95 1/16, guilders 39 15/16 to 40 14/40. New York exchange amid domestic centers: Chicago premium 10 cents, Boston 15 cents discount, New Orleans commercial 1.25 discount, bank par, Charleston buying 1/16 discount, selling 1/16 premium, Savannah buying 1/4 cent discount, selling par, San Francisco sight par, telegraphic 24 1/4 cent premium.
MENTIONED IN THIS ARTICLE
Mercantile
Clearing House
Sub-Treasury
London
Reichsmarks
Guilders
New York
Chicago
Boston
New Orleans
Charleston
Savannah
San Francisco
Telegraphic
Associated Press
Lonlon
Stock Exchange
England
Rio Tintos
Anaconda
Atchison
Baltimore and Ohio
Canadian Pacific
Chesapeake and Ohio
Chicago Great Western
Milwaukee
de Beers
Denver
Rio Grande
Denver and Rio Grande
Erie
Illinois Central
Louisville and Nashville
Missouri, Kansas and Texas
New York Central
Norfolk and Western
Ontario and Western
Pennsylvania
Rand Mines
Reading
Southern Railway
Southern Pacific
Union Pacific
United States Steel
United States’ Steel
Buenos Ayres
Madrid
Lisbon
London Market Signals and Wall Street Drift
The Times reports fair money demand in London with renewed Bank of England funding and firmer discounts while stock trading slows. Prices mostly fall, home rails weaken and foreigns steady. American rails dull amid fears of a weak New York bank statement. Rio Tinto gains as other issues show varied responses. gold premiums noted for Buenos Aires Madrid and Lisbon.
MENTIONED IN THIS ARTICLE
London Times
NEW York Times
Cablegram
London
New York
European Markets Open Steady Then Weakened In Paris
In Continental Centres Paris opened steady with inactive business, then weakened before recovering. Spanish 4s drew attention on hopes of Senior Silvela becoming Spanish premier, with firmness to close. Foreigns supported, Industrials unsettled, Rio Tinto firm with copper, Kafirs active, Three percent rentes at 90f85c. London exchange 25 pounds per checks. Berlin saw Boerse weakness on New York news. home funds steady, Chinese easier, Canadian Pacific down. London exchange 20 marks 46 pfennig for checks. Short bills at 2 percent, three months bills at 3.4 percent.
MENTIONED IN THIS ARTICLE
Paris
Silvela
Rio Tintos
London
Berlin
New York
Exchange
Trading in Baltimore Focuses on Atlantic Coast Line
In Baltimore on December 5 special to The New York Times, trading showed a sharp break for Atlantic Coast Line on small sales. Investors unloaded to secure best attainable prices, believing further gains unlikely. The market mood for Atlantic Coast Line remained gloomy to some traders.
MENTIONED IN THIS ARTICLE
New York Times
Baltimore
Improbable dividend rise at Louisville and Nashville rail
Market notes show insider-linked brokers buying United Railways common while management reportedly seeks better earnings efficiency. Day's activity totals 2215 shares and 34400 in bonds with prices across Atlantic Coast Line United Bus & Elec Mechanics Bank Drow & Mechan Bank and several railroad bonds listed.
MENTIONED IN THIS ARTICLE
Louisville
Nashville
United Railways
Atlantic Coast Line
United Bus. & Elec
Mechanics’ Bank
Drow. & Mechan. Bank
Boston Stock Market Turns Quiet as Banks Readily Meet Demand
Boston December 5 The local money market shows comfortable liquidity with banks well supplied and willing to service customers but reluctant to trade outside markets. Call money trades at 4 1 2 percent and time money generally 6 percent, Sterling exchange steady, clearing house exchanges reach 22 490 144 with balances at 1 468 688. The stock market remains extremely dull with only complete transactions listed.
MENTIONED IN THIS ARTICLE
Boston
New York
Sterling Exchange
Outside Securities Drift With Mixed Copper Stock Activity
The outside market showed weak overall enthusiasm with limited trading activity. Copper shares led gains including Montreal and Boston Copper and Greene Consolidated, while Northern Securities recovered late but American Barrel and Package rose to 63 from 62. Interborough Rapid Transit fell to 110 at close.
MENTIONED IN THIS ARTICLE
Interborough Rapid Transit
Bullion and Mining Market Quotes Narrow in London and New York
Bar silver was quoted in the London market at 221-16d per ounce and in New York at 47 54c per ounce. Mexican dollars were quoted at 37 14 39lec. On the Consolidated Exchange, shares of Best and Belcher, Chrysolite, Consolidated California and Virginia, Consolidated Imperial, Leadville, Mexican, Pharmacist, and Union Consolidated traded with small prices ranging from 0.03 to 0.81 per share.
MENTIONED IN THIS ARTICLE
London
New York
Consolidated Exchange
Best and Belcher
California
Virginia
Consolidated Imperial
Leadville
Union Consolidated
Colorado Fuel Control and Denver Meeting Fight
Representatives of three factions headed to Denver for the Colorado Fuel and Iron Company directors election on December 10. Leaders include Edwin Hawley and J C Os good. George J Gould seeks to block voting by stockholders whose shares are in proxy. Proxies held by former owners could be challenged if transfer books show different ownership.
MENTIONED IN THIS ARTICLE
Colorado Fuel and Iron Company
Denver
Colorado
Osgood
Edwin Hawley
J.C. Osgood
Seymour Thompson
George J. Gould
Knickerbocker Trust Company
Col
the Times
New York
Gould
New York Incorporations List Rich in Names and Capitals
Albany reports a burst of corporate filings including Whitestone Hollow Spar and Boat Company in Queens with 200000 capital and directors J G Fraser G R Bidwell J M Dillon. National Record Association in New York with 25000 capital. Independent Cigar Stores Company in New York with 100000 capital. Craft Hagen Company in Buffalo with 25000 capital. Charles Schlesinger Sons in New York with 10000 capital. Dunham Piano Company in New York with 5000 capital. Port Jervis Monticello and Summitville Rail Road Company reorganized with 110000 capital. Flexible Metallic Tubing Company in New York with 500000 capital. Drake Brothers Company in Brooklyn with 16000 capital. Hygeia Ice and Cold Storage in Richmond Borough with 62000 capital. Seitz Realty Company in New York with capital unspecified.
MENTIONED IN THIS ARTICLE
Whitestone Hollow Spar and Boat Company
Queens Borough
Capital
J. G. Fraser
G. R. Bidwell
New York
J. M. Dillon
Far Hills
N. J
National Record Association
E. M. Kentfield
Ambherst
Mass
G. N. Cowan
A. C. Hoyt
Christian Hagen
A. W. Hagen
Buffalo
Charles Schlesinger & Sons, Incorporated
W. H. Bennett
E. A. Bennett
David Wallace
Dunham Piano Company
Thomas Dunham
Emily L. Dunham
Conyers
Rockland County
Grace Dunham
Port Jervis
Monticello
Summitville
Monticello and New York
J. Anderson
Englewood
W. F. Dunning
Charles A. Draper
Flexible
W. F. Wilder
Ith Wilder
Chicago
J. N. Markham
Newark
Drake Brothers Company
Brooklyn
N. E. Drake
F. S. Vreeland
C. E. Drake
Brook
Closing quotations for bonds and stocks in market report
The report lists bid and asked quotations for government bonds and stocks with no recent transactions. It includes varied issues such as 4s of 1907 108, 4s 1925 around 135, Adams Exp. with Alb. & Sus., Am. Coal, Rice CS OE, Am. Exp., and many others with prices or ranges, reflecting a quiet trading session.
MENTIONED IN THIS ARTICLE
Bs. c
Adams Exp. P
Alb. & Sus
Ag. Ch
Gu A. c
Os Am
D. Tel
Bs Am
Ns Bewe, Sbat & Eis
Wwe Am. W. Co
A.W. Co
Ann Arbor
Ann A
A. M. Ist. Pe
B. AL L. Pf
B. UN. Gas
Bruns
al. S
E. UL - Eenias
Dry goods imports at Port of New York drop week over week
Imports of dry goods at the Port of New York for the week were issued at $215,995, down from $2,339,861 in the previous week and $2,183.4 in the corresponding week last year. The value of the dry goods marketed was $2,323,363, versus $2,223,56 in the prior week and $2,180,068 previously.
MENTIONED IN THIS ARTICLE
New York
Counterfeit Silver Dollars Questioned by Treasury
At the Sub Treasury yesterday officials disputed a Chamber of Commerce claim that half of circulating silver dollars are counterfeit. In testing, only about 100 of every 500000 dollars examined were counterfeit, showing far lower counterfeit rates than alleged.
MENTIONED IN THIS ARTICLE
Sub-Treasury
Chamber of Commerce
Also Mentioned on This Page
the Financial Markets
Stock Transactions
East, Tenn
Am. Sp. Mfg
Pée, & East. Inc
Y. Central
C. Cc & St. Be
Rock ‘Island
Union Pacific Pis al Northern of Vulcan
Bicycle
St.-83
Steel Fdy
Bull
Nat Aeahagites
Chi
Alton
West
Wo & St
del. & Hudson
General Electric
Mt Central
Iowa
Wea
Pxpress
Kan
City South
Louis. & Nash
St. 15
Wis.- Central
ST. Paul’s
Trade Developments
Canadian Trade
New Stock Exchange
Mexico
The
Industrial Company of the North
New Orleans Dispatches
Louisiana Cypress Lumber Company
Fidelity Title and Trust Company
Light An Heat Company
American Finance and Audit Company
Mahoney-Blue Lead Copper Mining Company
South Dakota
Central Freight Association
Columbus
Money and Exchange
London Market
Seaboard Ry
United Rys. & el. Inc
United Rys. & el
Anacos. & Poto. Ry
Mids
4Thswesasewe de Ite
Boston Stock Market
Massachusetts Electric
Massachusetts Elec
Old Colony Com
Ceereess
New England
Seeeemesne
Agri. Chemical
Am. Agri
Chemical Pf
Pneumatic Service
Wee Et Eenonee
Am. Sugar
Dominion Iron & Steel
Massachusetts
United Shoe Machine
U. S. Rubber
Calumet & Hecla
Gar Nef
Central Aeees
Copper Range
Enee
Consolidated Mercur
Daly West Eee
Dominion Coal
Franklin Seeeeenee One
Guana
Utah
Victoria
British Columbia
Pia
Hig Dened
Alta Pen Neboeaesene
Caledonia
Blue Bell
Eesedeeree c
Coriolanus
Dante
Dr. Jackpot
Elkton
St el Paso
Fanny Rawlings
Findlay
Isabella Heenes
Keystone
Lexington
Detroit
Minneapolis
St. Louis
Texas and Pacific
Outside Securities
Bostoon
Greene Consolidated
Northern Securities
Bbl
W. i
Light & Traction
Bay State Gas Ter
Brooklyn City Railroad
Champion Oil
Greene Con
Interborough Rap
Manhattan Transit
P. c
Tennessee
Trenton Potteries
Iron, Coal & Coke
New Orleans Ry. Sas
tVa. LC. & C. Ds
tVa
Ee Cc. & C. Scrip
Va. & Southwest
Type Founders
Amer
Bamberger de Lamar
Borden's
Borden’s
Alifornia Copper
Rubber Tire
Illers’ Securities
U Securities
Airc. Boat
Gire Steel Scewscess
Npire Steel
San Pete
Iil
Pai
Inter. Mercantile
Inter. Mercan
Mar
Inter. Mer
International Salta Pace
National Enanneling Pf
New Engind Trans
N & Ave J Tal
North Am. Lum, & Pulp
Otis Elevator Eee
Seaboard Air Line
Simpson-Crawford Simpson-Crawford
Southern T. Tr. Ss
Jrage
Nion Typewriter
Union Typewriter
United Box Board
United Copper
Ss. Shipbuilding
S. Shipbuilding
S. Steel New
Universal Tobacco
Virginia & Southwestern
White Knob
Broadway & 7Th
Broadway
7Th
Rapid Tr
Cen. P
N. Central Parl & E. R. Bds
Columbus Railway
Grand Rapids St. Ry
Jersey City
Jersey City H. & P
R. R
Sixth Avenue
Steinway R.R. Co
Syracuse Rapid Transit
Syracuse Rap
Union Ry
United Rys
St. L. Pf
St. L
United Traction
United Traction Bonds
Wash. Ry. & Electric
Wash. Ry. & Elec. Pf
Wash. Ry
Elec
St. & Traction
Lt. & Traction Pt
Ween
Buffalo Gas Ee
Buffalo Gas Pt Ee
Buffalo Gas
Union Gas Ltd
I Columbus
N. Con. Gas
Consum
Seeeeeeeeres
Denver Gas
Indianapolis Gas
Tast
New Amsterdam Gas
N.Y. & E.R. Gas Co
Northern Union
Eee
St. Joseph _(Mo
Paul Gas
Eeenee
N. Y
Pittsburg Transactions
Bullion and Mining
Syracuse Gas
Syracuse Lighting
Syracuse Light
Brooklyn Ferry Aan
East River Ferry
Hoboken Ferry
Ks & Hoboken
New York Exchange
Swift
Cancom Awe
Chicago Pneumatic Tool
Edison
Chicago Title & Trust
Chicago Telephone
City Railway
Ee Ved
Lake St. Elevated
Ae BO
Mil
Chic. Brew. Com
National Biscuit
Quaker Oats
Quaker Oats Pf
Swift & Cow
Board of
United Box
Northwestern el
Develsheer
Cambria Iron
Foo
Cambria Steel
Weet
Seneese
Columbus St
Lake Supiq
Lake Sup
Ches, & Ohio
Diamond Steel
Seeee
Easton Con
Ats
Lehigh Valley R. Sper
Mer
Trust
Marsden
Penn
Phila
Bourse
Trac
Phila. Co
United Gas Imp
Union Traction
S. Steel
U S. Steel of
Welsbach
Canada
Virginia Fs
Brown Bros & Co
Santa
eSsus
West East & Ohio
Nort & W
Ayuv
Ayuv, ON tNorth
Canada South
Chia Alans
Penn Co
Inn
Peoria
E Inc
Mil & St Paul
Rioer West
R l& P
Etree
Seaboard
C.C
Smaaeyaoul
Consol Tobacco
Denver & River Union
Aisha
Green Bay & West
Lehigh
Louisville & Nashv
Abash
Del
Nas West Shore
Wheeling
K& T
Colorado Fuel Control
Albany
Seitz: Realty Company
William Seitz
J. D. Hassinger
Ty Seul i
A & Oe
St. Lo
Ware Tmners CS. Heese & Iron
Com. Cable
Consel
Coal. & Corn. P. Co
Db & Ss. W. Hock. V. Pf
Heamestake
Int
P. Co
Sil
ES. Peet
I Town C. Pf
Joliet & Chi
I. Kan
Ray
St. He Vf
Toons
Ft. W
Pullman Co
Quicksilver
Socal
R. S
Etfs
S. Pf
N.Y. AL Blios
M. B
St.l
le D
Cy. D. Co
Oc. C. Co
Stinghouse
Ostinghouse St Pf
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