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Newspaper
New York Times
Location
New York, New York, United States of America
Date
Sep 29, 1908
Page
11
A veteran floor trader voices a cautious view that a small, effective group drives the market while public participation remains uncertain. Bond traders note intermittent strength and a forthcoming city bond issue, with attention on Union Pacific gains and the lingering value of old 3 1/4 per cent bonds.
The New York New Haven Hartford Railroad president's report shows 1907-08 operating revenues of 53 million with expenses of 38.2 million and net operating revenue of 14.84 million. After fixed charges and other income the dividend-eligible net income fell to 5.27 million, producing a 2.52 million deficit after 8 percent dividends. about 6 percent return on assets. A valuation hints at 700 million dollars for the property.
The Realty Associates board has approved the usual semi annual 8 percent dividend and an extra 2 percent dividend, matching last Fall. Dividends will be payable October 15. A $200,000 shipment of Canadian gold coin was sent yesterday. J P Morgan & Co closed at 3 pm in respect for James W Paul Jr whose funeral was held yesterday. Paul was a member of the Morgan firm.
Rev Charles Stuart Bain who set fire to a western New York church and was sent to Matteawan remains deemed insane by Superintendent Dr Lamb. His habeas corpus hearing before County Judge Haigbrouck was adjourned.
Money on call on Stock Exchange loaned at 1 1 percent with closing at 1 percent. Time money rates show 2 percent for sixty days, 2 3 percent for ninety days, 3 percent for four months, 3 4 percent for five and six months. Mercantile paper rates 4 percent for sixty to ninety days, 4 4 1/4 percent for four to six months. Clearing House shows exchanges 153,384,784 and balances 8,270,257. Local banks decline of 1,025,000 since Friday. Sterling steady around 4.8635 to 4.8640. Continental bills listed for francs 5.193 plus 1-64, etc. Exchange to New York and Boston at 12 1 4 c discount.
London price for bar silver at 28 18 16 per ounce and New York at 31 54 0. Mexican dollars quoted at 45 cents each.
The official closing quotations for mining stocks in San Francisco on September 28 showed varied results across major miners. Prices moved modestly, reflecting market activity and sector trends.
Colorado Springs report lists closing bids and asks for mining stocks including Dr Jackpot Elkton El Paso Vindicator Isabella Portland McKinney Work and others with figures showing bid and ask prices. The prices range from fractions to several points, reflecting market activity on the local exchange.
London dealers report better demand for settlement and steady discounts with 1,000,000 in gold secured mainly by Paris. American carryover at 2 1/4 percent. activity in home rails, colonial securities, and popular stocks like Harriman lines. Kaffirs and bar silver firm. Paris rentes at 8 percent, Berlin Boerse prices firm.
The cotton market rose early but trimmed gains to close 2.6 points higher after heavy trading on about 150000 bales. Spot prices held steady with middling upland at 9.40 and middling Gulf at 9.65 as regional markets reported mixed activity and storm concerns loomed.
United States Weather Bureau forecast issued in Washington covers Tuesday and Wednesday for cotton and grain states. Carolina regions expect fair and cooler Tuesday, fair Wednesday with brisk northeasterly winds. Georgia: fair Tuesday cooler south and east, Wednesday fair with brisk winds. Mississippi and Louisiana: fair both days with variable winds and warmth. Midwest states show general fair and warmer Tuesday, varying winds. Upper Midwest shifting patterns with showers in Michigan and Wisconsin, cooler in North and South Dakota and cooler on Wednesday in several areas.
Government authorities face a growing number of out of work as winter approaches. Census figures from Glasgow show 22,000 job seekers, Sunderland 13,000, Birmingham 10,000, Liverpool 14,000, Manchester 8,000, with other cities reporting 1,000 to 5,000 each. Distress funds are being raised.
Series B 5% Gold Notes of the American Locomotive Company Nos 1001 to 2000 with a principal sum of 1 000 000 will be paid at Harvey Fisk & Sons 62 Cedar Street New York City on and after October 1 1908 Coupons for October 1 1908 from Series C D and B notes will be paid at Harvey Fisk & Sons on and after October 1 1908. Co B. Denny Treasurer. Orphan bought and sold active curb issues traded on standard stocks. Gavigan Isbell Co Marbridge Building 1328 Broadway New York Phone 747 38th. Money wanted good mining or other stock for sale safe profitable investments no wildcat fakes L Darbyshire Box 1810 Rochester N Y.
The Atchison company reports a fiscal year ending June 30 with gross earnings down 725000 and operating expenses up 2587000, leaving a surplus of 13678000. They note no new construction plans for extensions and say public hostility has harmed rail investment confidence. Wheat and cotton crop shortfalls reduced freight by about 4.324 million, with other goods dropping about 2 million. Total revenues 90.618 million, expenses 65.032 million.
The Houston & Texas Central Railroad Company announces bonds drawn from land sale proceeds to be paid at 110 percent of par plus accrued interest. Distinguishing numbers listed will be redeemed, with interest ceased after November 28 1908. Payment offices: 120 Broadway New York. President B R Lovett signs.
Notice to holders of the First Preference Income Bonds warns that protest by one third of the bond amount by September 30 1908 is required to affect interest declarations. The document explains that Second and Third Preference holders may still recover interest and cautions First Preference holders to file their protest with Metro Trust Company as depositary. Signed by a committee and counsel in New York and Savannah.
The Standard Oil Company issues a warning to press and public against false statements about its views and actions. It insists only statements signed by an executive official or designated attorneys are credible, warning against unnamed rumors and misattributed claims.
A compilation of mortgage and collateral bond issues from firms including Central Ry. Co. of Pearia, City of Dallas, Kansas City Southern Ry. Co. and Colorado Springs Light & Power Co. with entires noting 5s to 8s, 4s and other ratings. Dues listed: October 15 and October 20, 1908, with entries for multiple cities.
Multiple railroad companies announce annual stockholder meetings. Union Pacific urges October 13 in Salt Lake City to elect directors and approve mortgage actions. Northern Pacific calls October 6 meeting in New York for director elections and related business. Jamestown Chautauqua and Lake Railway and others set September and October sessions for trustee and travel fund items.
The Board of Directors declare a dividend of two percent consecutive quarterly dividend No 52 on the preferred stock payable October 15 1908. Checks mailed to preferred stockholders of record at close of business September 30 1908. Stock transfer books close 3 PM September 30 1908 to 10 AM October 15 1908. Signed S W Travers treasurer.
The Traction and Electric Company of Jersey City announces a dividend of one and one quarter percent on capital stock. Registered holders will be paid October 1, 1906. Transfer hooks close October 15 and reopen October 26, 1993. Treasurer C. S. Sweetland signs the notice.
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