Market Close Break Shapes Edged Tuesday Trading
Readable fragments show a sharp market break and a sharp closing break over Tuesday's session. Traders weighed earnings and economic signals as prices swung and ended near session lows.
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Newspaper
New York Times
Location
New York, New York, United States of America
Date
Jun 21, 1900
Page
11
Readable fragments show a sharp market break and a sharp closing break over Tuesday's session. Traders weighed earnings and economic signals as prices swung and ended near session lows.
St Paul and Duluth Railroad to operate within Lake Superior Division Third District of Northern Pacific. Payment on Lake Shore 7 percent first consolidated mortgage bonds due July 1. AT&T declares first dividend since absorbing American Bell. Virginia Iron Coal and Coke shuts iron furnaces at Johnson City and Embreville Tennessee for inventory and repairs, to resume July 14. Cotton Exchange sees sensational 13 to 40 point lift in options. Republic Iron and Steel notes mills shut for maintenance, aim to restart July 14.
Money on call and mercantile paper quoted with various maturities and rates. London money rates, open market discounts, and nominal exchange figures listed. Continental and domestic exchange figures include francs, reichsmarks, guilders, and city premiums across multiple U.S. centers.
American markets opened near parity and stayed steady through close with light demand. Consolidated money rates and bullion flows shaped the day as bonds and stocks quoted small gains and gold premiums moved in London and European markets.
Paris reports firmer copper and Rio Tinto on recovery hopes. Kafirs in strong demand on London advice, three percent government bonds steady at 100f on account. Exchange to London quoted. Spanish four and a half francs firm then flat, later recovers. Berlin scene shows firmer Americans and Canadian Pacifics, locals improve after close. discount rates listed for short and three month bills.
Adrian H. Muller & Son reported a large auction of securities in New York at the Real Estate Salesroom. The listing included American Surety Company, American Telegraph and Cable, American Express, American Cotton Oil preferred, Consolidated Gas, Lake Erie and Western, New York Central and Hudson River, Spokane and Eastern Trust, American Sugar Refining both preferred and common, Western Union Telegraph, Wells Fargo, and various railroad and mining stocks with detailed par values and lots. Interest notices issued by Procter & Gamble and mortgage bonds from multiple railroads were announced, along with dividend declarations by several banks and companies. Outside securities trades were quiet with a broad market drift, notable for a sharp drop in Havana Commercial preferred and general reluctance to buy.
Erratic trading on the New York Stock Exchange appears to push indices as investors react to fragmented data. Traders monitor short term shifts in large cap equities amid uncertain economic signals and fluctuating volumes.
A dense list of bond issues with varied maturities and yields from railroads and utilities. Entries include entities such as New York Central, Baltimore & Ohio, Chesapeake & Ohio, Fort Worth & Denver, Reading, Erie, Texas Pacific, Mexicali divisions, and others, with par values often around 1 000 and yields near 100 percent in places. The compilation notes numerous 4s and 5s series, conversions, and trust bonds, reflecting a broad trading slate with mixed credit profiles and regional references.
Consolidated Exchange Trading shows varied results across sectors with several major stocks and bonds listed. Notable entries include American Steel and Wire, Ohio companies, Pennsylvania Gas, Pacific and Western rail entities, and Union stocks with fluctuating prices and yields as of the latest open and high trading figures.
July wheat touched 86 cents a bushel the year's peak as speculative buying surged after the display of a North Dakota sample on the exchange floor. The specimen, from sowings of April 12, stood six to eight inches tall, about half the normal height.
On June 20 Philadelphia market quotes reveal a yielding tendency in asphalt shares, some gains for Electric of America and Diamond State Steel, while Union Traction dips despite strong earnings. Consolidated Lake Superior offers 15 percent at 744, with irregular late activity and scattered fractional changes across rail and utility issues.
Chicago reports June prices for linseed with mixed closes and steady demand. Stocks list shows American Linseed and Metropolitans firm, while West Chicago and Union Loop trade steady. Separate earnings roundup flags second-week June gains across 37 railroads totaling 705 223 dollars, led by Central of Georgia and St. Louis & San Francisco.
The listing shows bid and asked quotations for many bonds and stocks with no transactions. Notable items include Lake Shore and Long Island values, mining and coal stocks, railroads, and utilities. Numerous entries show par values, percentages, and percent changes amid a broad spectrum of issuers and industries.
The Executive Committee of the New Amsterdam Gas Company is to meet today and is expected to raise the price of gas to 1.05 dollars per thousand cubic feet to match Consolidated’s rise. It is also understood that Standard Gas Light Company will follow suit tomorrow and that New York Mutual Gas Light already advanced its price.
The North American Trust Company has relocated its offices to the North American Trust Company Building at 135 Broadway, at the corner of Cedar Street.
A compilation shows mileage figures and weekly periods for rail lines including KANAWHA & A, MEXICAN CENTRAL, OHIO RIVER, PITTSBURG & WESTERN, CENTRAL OF GEORGIA, CHICAGO, INDIANAPOLIS & LOUISVILLE, CHICAGO TERMINAL TRANSFER, GRAND TRUNK, ST. LOUIS & SAN FRANCISCO, TOLEDO, PEORIA &, and PHILADELPHIA & ERIE. It lists weekly June figures, July 1 figures, and April four months ended, along with gross earnings, expenses, and net earnings for NORTH AMERICAN COMPANY for year ended May 31, 1900.
Washington June 20 The Treasury has exchanged 31,054,030 in bonds for the new 2 percent consol. Of this, 73,529,600 was received from individuals and institutions other than national banks.
A garbled clipping references Roosevelt in second place and hints at traction or rock steel and wire ad campaigns. Mentions MO and H. Kimba Rro with unclear civic notices.
Chicago market reports heavy buying pressure from the Northwest crop situation, lifting July wheat 3% and closing higher. Corn oats and provisions follow the trend as drought and heat devastate remaining wheat, with 100 degree heat noted in the region and about 100,000 bushels offered for sale absorbed quickly.
Bad crop and weather news in Mississippi, Arkansas, Alabama, and the Memphis district spurred a sharp rise on the New York Cotton Exchange. August cotton hit 8.45, October 7.91, and January 7.80, up 13 to 23 points from Tuesday. Buying frenzy pushed many options up nearly $2 a bale.
Seat prices on the New York Cotton Exchange reached a new peak when two seats sold for 4000 dollars each. Two years ago memberships traded as low as 500 dollars. The surge follows a recent adoption of a new uniform commission rule, with several more applications already on file.
A list of new companies with capitals and directors includes Sanitary Clothing Company of New York City capital $20,000 with Aaron Garfunk Wolf Barnes and J A Voleski of Charleston S C. Emalina Novelty Company capital $2,000 with John Krusi Max of New York T F Bernard of Brooklyn. Cotton Batting Company of Lockport capital $10,000 with Sheldon W N Cook Stephen Salt and R E Tinker. Chester Hill News Company of Mount Vernon capital $2,000 with Solomon Levine Joseph Perlmutter Simon Levine. People’s Mutual Medical Association of New York City capital $1 000 with Edward J Ball R H Jackson D A Trier. New York estate Morningside Realty Company capital $400,000 with F Eugene Crassens Albert G Milbank James Cochran Rutherford M Shepardd Lewis B Franklin.
Wilmington June 26 These concerns were chartered at Dover today including McAdamite Company of New York to acquire patents and processes for working metals with 1300 capital and 4Ka. Keyless Lock Company of Mauch Caunk Penn to make and sell patent locks with 100000 capital. American Nickel Steel Company of Wilmington to manufacture steel with 100000 capital. Equitable Tontine Endowment Company of New York to issue and sell debenture certificates of monthly payment with 100 am capital. Lake Pocono Test Company of New York to manufacture fees with 51a6intys capital. Southern Gas Company of Fort Worth to manufacture acetylene gas generators with 150.66u capital.
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