Sharp Market Reversal After Late Trading Slump
The market fell in the final hour as speculative selling intensified, with Reading dropping up to 8½ points and closing down 5½. Bears pressed losses in Union Pacific St Paul Northern Pacific Great Northern Amalgamated Copper and American Smelters while Pennsylvan ia Brooklyn Rapid Transit and Consolidated Gas showed strength. A late rally limited losses to fractional levels, aided by gains in Baltimore & Ohio, which rose despite no new financing amid dividend hopes. Grain markets eased on favorable crop news as time money firmed and bank liquidity improved. Bank of England weekly statement showed higher reserve ratios with modest gold gains.
MENTIONED IN THIS ARTICLE
Reading
Union Pacific
St. Paul
Northern Pacific
Great Northern
Amalgamated Copper
American
Pennsylvania
Brooklyn Rapid Transit
Consolidated Gas
Baltimore & Ohio
Pennsylvania Company
Panhandle
San Francisco
Australia
Sub- Treasury
Treasury
Bank of England
New York Stock Exchange Report June 14 1906
Unlisted stocks and market movements noted for Thursday at the New York Stock Exchange. Traders observed activity across several sectors with limited liquidity and pricing shifts on the floor.
MENTIONED IN THIS ARTICLE
NEW York Stock Exchange
Calendars for today and dividends payable list
A historical listing shows calendars for today with stock and dividend notes. It names many companies including American Tobacco Co. preferred, National Lead Co. common, National Enameling and Stamping Co. preferred, and several railways and utilities. A special meeting is noted for Consumers' Coupon Co. and dividends payable are listed for multiple firms.
MENTIONED IN THIS ARTICLE
Albany & Susquehanna Railroad
American Brake and Shoe Foundry Co
American Chicle Co
Common
American Smelting and Refining
American Snuff Co
American Tobacco Co
Ashland Coal and Iron Co
Boston and Suburban Electric Co
Chicago & Alton Railway
Chicago Great Western Railway
Stoc
Chicago, Rock Island & Pacific Railway
Columbus Gas and Fuel Co
Detroit & Mackinac Railroad
Guggenheim Exploration Co
Horn Silver Mining Co
International
Fort Scott
Memphis Stock Trust
Nron
Philadelphia
Philadelphia Passenger Railway
Appleton & Co
American Bank Note Co
American Graphophone Co
American Pneumatic Service Corporation
American Railways Co
Borden's Condensed Milk Co
Boston Woven Hose and Rubber Co
Cleveland and Sandusky Brewing Co
Columbia Phonograph Co
Consolidated Gas Co
New York
Daly-West Mining Co
Delaware & Hudson
Diamond Match Co
East Mahanoy
Eden Musée Americain Co
Equitable Illuminating Co
Federal Mining & Smelting Co
Laclede Gas Light Co
National Lead Co
Norfolk & Western Railr
Northern Ohio Traction & Light Co
Old Dominion Co
Philadelphia Electric Co
Portland & Rumford Falls
Rubber Goods Manufacturing Co
Standard Oil Co
Consumers’ Coupon Co
Iron and Steel Notes Signal Rising Market Demand
Foundry inquiries are rising and large local sales occur as a major supplier forecasts a strong buying move in the second half of the year. Missouri Pacific Railway buys 35 000 tons of rails while Harriman lines are denied a 200 000 ton purchase. Milliken Brothers’ Staten Island plant, due later this year, will have 136 000 ton capacity with 60 percent expected for sale.
MENTIONED IN THIS ARTICLE
Missouri Pacific Railway Company
Harriman Lines
Milliken Brothers
Staten Island
Boston Money Market Holds Easy Tone Amid Stock Decline
Special to The New York Times reports a fairly easy local money market with call loans at 4 1 2 percent and mercantile paper at 5 percent. Clearing House loans sit at 4 percent while New York funds show a 10 cent discount. Clearing totals reach 26 448 294 and balances 1 893 405 with Sub Treasury debit 204 464. The local stock market moved with New York, selling intensified and prices declined, sometimes by half a point, though some support appeared. Trading parties led the initial selloff, followed by commission houses, with a net irregu lar close and broad offerings.
MENTIONED IN THIS ARTICLE
New York Times
Boston
Mercantile
New York
Sub-Treasury
Trading in Baltimore Stocks Steady with Mild Gains
Special to The New York Times from Baltimore June 14 reports light trading with Maryland and Pennsylvania incomes drawing most attention and edging up fractions. Prices were irregular but mostly higher, with Macon Railway and Light 5s up 4 points to 101. Cotton Duck common fell briefly and Western Maryland second 4s eased. Market closed firm but dull with 562 shares and $85,000 in bonds traded.
MENTIONED IN THIS ARTICLE
New York Times
Baltimore
Maryland
Pennsylvania
Macon Railway
Northern Central
Western Waryland
Philadelphia
New York
Reading
Lehigh Valley
Lehigh Navigation
Symbe Traction
Alliance Insurance
American Railways
Atchison Ae Ee Eae Sive Son
BOM
Brooklyn R. T
Wat
Bell Telephone
Cambria Steel Wee Eeee
Farm’ & Medh. Bank
Hunt. Ie
Ins. Co
North Am
Lehigh Valley R. R
Lexington & Inter
Marsden
New Haven Steel Aenee
Pennsylvania R. R
Penn. Steel
Philadelphia Co
Philadelphia Co. Pf
Philadelphia Electric Dy
Philadelphia R. T
Philadelphia Traction
Southern R. R
Susquehanna Steel
Tonopah Mining
Union Traction
UG Gas
United Gas Imp
U. Gas Imp
U. S. . Steel
EU Neene
U . Steel Pf
Baltimore & Ohio Advances Sharply on Dividend Hopes
Shares of Baltimore and Ohio surged nearly three points amid market declines as analysts eyed possible dividend increases at the next directors meeting. Officials stressed no new financing, noting strong earnings. 1905 net income was $22,979,394 with a $3,181,954 surplus after dividends and reserves. Through ten months this year net rose to $26,266,228 vs last year’s twelve months, with gross gains of about $8,000,000.
MENTIONED IN THIS ARTICLE
Baltimore & Ohio
Money and Exchange Rates on the Stock Exchange Loans
Money on call on Stock Exchange col lateral loaned at 3 3% rate, closing at 8% Most loans at 3% time money 4% for thirty days and sixty days 4% for ninety days and four months 4%5% for five to seven months trading Mercantile paper rates 5 5% for sixty to ninety days indorsed bills receivable 5 3544% for four to six months single names 5%6% for others Clearing House shows exchanges 289,834,698 balances 10,074,529 Sub Treasury credit 316,420 Local banks gained 404,000 since Friday Sterling exchange firm Nominal rates 4.84 for sixty days 4.87 for demand Actual demand close 5 points higher at 4.8590 4.38595 Sixty-day bills 4.8280 cables 4.8630 4.8835 Commercial bills 4.524 4.82 Continental exchange francs 5.221% less 1-82 for longer 5.17 less 5-64 for demand reichsmarsch 0.92 15-1 and 94% plus 1-32 guilders 0.40 6 Exchange on New York domestic centers Boston 10c discount Chicago 5c discount New Orleans Commercial 73c discount bank 1 premium Savannah Buying 50c discount selling 1c premium Cincinnati St Louis 15 5c discount Charleston Buying par selling 1-10c premium
MENTIONED IN THIS ARTICLE
Stock Exchange
Mercantile Paper
Clearing House
Sub- Treasury
Sgnintt
Sterling Exchange
Continental
Ion
Reichsmarch
Guilders
New York
Boston
Chicago
New Orleans
Bank
Savannah
Cincinnati
St. Louis
Charleston
Bullion and mining market notes and stock quotes
Bar silver priced in London at 29 11 1/2 d per ounce and in New York at 61 1/2 c. Mexican dollars quoted at 50c. On the Stock Exchange 500 Comstock shares traded at 0.20. Consolidated and other exchanges show varied small lots in Catalpa, Collar, Comstock, California and Virginia, Crescent, Daly, Hi Paso, Elkton, Goldfield, Jim Butler, Jack Pot, Mexican, Maqueen Montgomery Mountain, Ophir, Portland, Yellow Jacket and more, with prices ranging from fractions to several dollars.
MENTIONED IN THIS ARTICLE
London
New York
Stock Exchange
Comstock
Consolidated Exchange
Catalpa
Collar
California
Virginia
Crescent
Daly
Hi Paso
Elkton
Jim Butler
Montgomery Mountain
Portland
London Market Mixed Amid Disbursements and Settlement
Money supply rose in London on government disbursements but demand grew with settlement. Consols and gilt edges fell on talk of a London County stock issue, later recovering with a strong Bank return. Foreign markets were weak on Continental disquiet, while Americans opened heavy but receded. Bullion movements included £136,000 to the Bank of England and £40,000 for South American shipments.
MENTIONED IN THIS ARTICLE
London
Stock Exchange
London County
New York
Baltimore & Ohio
Madrid
Lisbon
Bank of England
South America
London Closing Quotations for American Stocks
London closing prices for American stocks show yesterday's levels with comparisons to New York equivalents and the prior New York close. The report lists gains and losses across key issues, reflecting market sentiment and currency effects as traders digest global cues.
MENTIONED IN THIS ARTICLE
London
New York
Uncertain Start for Russian Markets in Paris Trading
Paris reports indecisive course trading as Russians show heaviness amid rumors of a new loan. Imperial Russian shares closed at 78 with 1904 bonds at 487, three percent routes at 981 2714c, and London exchange at 25f 18c for checks. Berlin saw weakness in prices, especially Russian issues, with London exchange at 20 marks 48% pfennigs for checks and discount rates for short and three month bills at 3.0 and 3.5 percent.
MENTIONED IN THIS ARTICLE
Paris
London
Berlin
Commerce Record: U S Trade Surges in War Year
Washington June 14 A Department of Commerce and Labor bulletin says foreign commerce during the fiscal year ending this month is set to surpass all prior years in both imports and exports. May and June could push imports to 1 225 000 000 and exports to 1 786 000 000 totaling just over 3 000 000 000. ten months imports exceed last year by about 100 000 000 and exports by over 200 000 000.
MENTIONED IN THIS ARTICLE
Washington
United States
Department of Commerce and Labor
Anne Arundel seeks bids on 250000 four percent bonds
Sealed proposals will be received in Annapolis until June 26 1906 at 11 a m for purchase of all or part of 250000 four percent bonds in ten series of 25000 each. Interest paid January July 1 exempt from taxes. Bonds delivered by July 10. Bid must include two percent certified check. Bids opened at noon June 26 in the County Commissioners office. Full information from W W Webb clerk.
MENTIONED IN THIS ARTICLE
Anne Arundel County
Annapolis
Maryland
Yable
Board of County Commissioners
County Commissioners’ Office
W. W. Webb
Republican Valley bonds drawn for payment July 1906
The Republican Valley Railroad Company six per cent bonds due July 4 1949 have been drawn for payment under the July 1 1879 trust deed. Twenty two bonds of 1000 and eleven bonds of 600 are payable after July 1 1906 at 85 Devonshire Street Boston with accrued interest. New England Trust Company trustee D R Whitney president.
MENTIONED IN THIS ARTICLE
Guaranty Trust Company
International Traction Company
Buffalo
Niagara Falls
Tonawanda
North Tonawanda
Lockport
Republican Valley Railroad Company
New England Trust Company
Devonshire Street
D. R. Whitney
Boston
Mass
Union Pacific Bond Conversion Extended to July 2 1906
Notice extends the option to convert Union Pacific Railroad Company First Lien Convertible Four Per Cent Gold Bonds into common stock to July 2, 1906. Unconverted bonds will be redeemed November 1, 1906 at a 2.5 percent premium. Secretary Alexander Millar, 120 Broadway, New York, May 29, 1906. Also Hacks for Railroad Securities Company Illinois Central Stock Interest Certificates Series A close June 16, 1906 for regular dividend. Books reopen July 3, 1906. Treasurer Charles C. Tegethoff.
MENTIONED IN THIS ARTICLE
Union Pacific Railroad Company
Alex. Millar
Broadway
New York
Railroad Securities Company
Illinois Central
Chas. C. Tegethoff
Fisk & Robinson Win Canal Bond Issue in New York
Fisk & Robinson of New York were awarded the full $1,000,000 State 3 percent gold canal improvement bonds at 101 and interest. Bids from Albany Trust Company, Merchants’ National Bank Dunkirk, Manufacturers’ National Bank Troy, Hamilton Trust Brooklyn, William A. Read & Co., and Acting State Controller Wilson competed, with varied pricing and coupon allocations.
MENTIONED IN THIS ARTICLE
Fisk & Robinson
Albany
N. Y
New York
William C. Wilson
Albany Trust Company
Merchants’ National Bank of Dunkirk
Manufacturers’ National Bank of Troy
The
Hamilton Trust Company of
Brooklyn
William A. Read & Co
Wilson
Canal
Also Mentioned on This Page
Plympton, Gardiner & Go. Bankers
William St., N. Y
Hallgarten&Co
Bankers
Nassau Street
Spencer Trask & Co
William and
Pine Streets
Maurice C. Sternbach
N.Y. Stock Exchange
Adolph Hoeland
Sternbach & Co
Bankers and Brokers
Wall St
Ira H. Parsons
Bond Dept
Redmondsco
Pine St
Mobile & Ohio Equipment
Nash
Chattanooga & St. Louis
Reeman & Company
A Street
Dick & Robinson
C. H. Venner & CO
East Orange
N. J
Conn
Clark, Grannis & Lawrence
N. J. Stock Exchange
Carpenter
Ae St
New York Stock, Co R Exchanges
Baring & CO
Wall Street
Foreign Exchange
Baring Brothers & Co., Ltd
Lehigh Valley Transit Co
Sutro Bros. & CO
Pine Street
NEW _ YORK
Members of
Erro
CE. Trust CO
34Th ST
West 125Th Street
Third Ave
148Th ST
Colum Ilsull
Capital & Surplus
Nassau ST
the Financial Markets
Tosi
Ine
Hele
Adams Express Center
Allis-Chalmers Co
SC Co
Car & Found
Hide & Leath, Pe
Ice Securities
Eteeee
Locomo. Co
Locomo. Co. Pf
Pneu
Smelt. & R. Co
Steel
Sugar Res. Co
Tobacco & Pf
Woolen Coe
Atlantic
Va Tran
Brunswick
C. P
Sub.c
Chi
Ae West. Pf
A. Ie
Chi. West. Pf
Ae Ee
Gril. & St. Paul
Mil. & St. P. Pf
Chicao & Northw. Cas
Chi. Northw
Chicago Union Trac
Union Trac
Aeee
Cc. Cc
Colorado Fuel & Iron
Colorado & Southern
Col. & South
Diamond Match Rts
Distilers Paes
Dal
Ae & At
Dts Re TL
Erie Pere
Erie Oy Pt
Erie Ee
Fed. Mim & Smelt. Bee
General Chemical
General Electric
Havana Electric
Hocking Valley
Hocking Valley of
Illinois
Interbor
Internat. Paper Co
Inter
Kansas City
Patex Ice
Toursville & Nash
Nat. Biscuit Co
Nat. Enam. & Stamp
National Lead Co Eenee
Oe Lead Co. Pt
Nat. R
New York Air Eee
New York Central
N. Me
Chi. & St. L
N.Y. Ont. & West
Norfolk & Western
North American
Peoria
Eastern St. L
Pittsburg Coal
Pittsburg Coal Etc
Steel Spring
Rep
Ron & Steel
Iron & Em
Rock Island Co
Ees
Rock Island Co. Lees
St. Ee & G. Pf
SE. Tots Southw
St. Louis Southw. Pf
Sloss-Sh
Soo Ee
Southern Pacific
Southern Pacific Pf
Southern Ry
Southern Ry. Pf
Aes . Tenn. Coal & Tron
Texas - Pacific Pl
West
Stl
W. Pf
Twinity R. T. Rts
Pf Escoveste
United Rys. Zoveai
U. Ss. Red
U. S. Red
U. . Rubber
U. S
Western Maryland
Western Union Tel
Lake Eris
L. E
L. BE
Wisconsin Central
Wisconsin Central Pl
Iron and Steel Notes
Boston Stock Market
Igh
Bell Tel
Atchison Weet
Atchison Pf
Boston Suburban
Boston & Albany
Boston & Maine
Boston & Wor
Fitchburg
Old Colony
Pere Marquette Pr
Wee Enene
West End
New England
Am. Agl. Chem. Pf
Tees
East Ae Land
Ediso
sGeneral Electric As
Mass. Gas
Seattle
Swift & Co
United Fruit
United Shoe Machine
United Shoe Mach
Oneee
Stee
U. S. Steel Eopet
Adventure
Arcadian
Bingham Sete Eeee
Ing
Franklin
C.seeseeeer
Greene Consolidated
Isle Royale
Victoria
Winona
Ge. South. & Fla
MD. & Penn.inc
Seaboard
Western Md
Macon Ry. & L
Norf. Ry. & L
United Railways
United Railways Inc
United Rys. Inc
MD. & Penn
Seaboard 2d
Continental Trust
Cotton Duck Pt
Pittsburg Transactions
Pittsburg
H. Low
Cable Consolidated
Pale
Consolidated Iee
Crucible Steel
Wee
Harbison-Walker R. Pf
Independent Brewing
Seesere
Ohio
Pittsby
Pittsburg Brewing Consolidated
United States Steel
United States Steel Pf
Westinghouse
Western Penn
Penn. Ry. Besei
Money and Exchange
Bullion and Mining
London Stock Market
Llaas
York
Bank OF France
Nziv
Ey Close Ch'ge
Atchison Rd
Erlelet
Tous. & Nash
Y. Central
Peaney Ivanian
Sage Teees
Be Pacific
Union Pacific . Steel
I! Steel of
Francisceatee
Farmers’ Loan and Trust Company
William Street
Fifth Avenue
Guardian
New Jersey Commercial Trust Company
Jersey City
John W. Hardenberge
Treas
George W. Young
Jay 8. Perkins
Ase't Treas
Robert 8. Ross
Richard Tennant
Ass’t Sec’y
Mills Bros. & CO
the Consolidated Exchange
Allis-Chalmers
le .Amal
Car & Fy. Eeeawe
Brook, Rap
Can. Pacific
Ches. & Ohio
Chi. Gt. West
Col. Fuel & I
Con. Gas
den. &Rg
Erie Wee Teowens
Inter.Met
Louis. & Nash
Central
Pacific
Nat
Norf, & Went
An Ve Pacific
and Steel
U Ss. Steel Pt
U.S
General Assembly
Union Pacific Rawlagad CO
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