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Newspaper
New York Tribune
Location
New York, New York, United States of America
Date
Aug 07, 1902
Page
4
The market shows stronger demand with higher closing prices and positive net changes from Tuesday. Investors pushed prices up amid improving sentiment and buying activity across securities yesterday.
Trading showed fair degree of activity with prices generally firm and gains in most cases at close. Gould stocks notably Texas and Pacific and Missouri Pacific advanced on expectations of bigger cotton crop, industrial expansion, and strong management. Industrial stocks rose on higher demand with notable gains in Sugar Refining, Consolidated Gas, and American Car and Foundry. Bear campaign looks unlikely as the market stays firmer. slight gold export engagement noted and banks remain well supplied with time funds.
Market steady with final quotations for government bonds across several issues including U S 4s 1925 reg and cou, 2s 1930 reg, and 5s 1903 reg. Railroad bonds showed generally firm trading and total par value sales totaling 1,682,000, led by Atchison general 4s and major rails like Chicago Burlington Quincy 4s and Erie general 4s.
A ledger of bonds and stocks including Asp Co of Am Ss 24 25 Newark Pass 5.116 ind. P Ry Co 5s 12 People’s Tracts NJ Con Ss 109 148 Union Tracts Nat Asphalt 5 10512 19a Lehigh Nav 74 Tidewater Steel 6 Lehigh Val RR 344% A Cos of NJ 47% Marsden 3% Union Traction Nat Asphalt Gas Imp Co 108 28 1 14 Welsbach Co do pref Northern Cent 12 4
A dense catalog of bonds and debentures with diverse yields and maturities appears. Notable entries include Armae 5s, Gr Bay Deb A, TES Adj, KC-96, Nor & W Con, Tex & Pac, Union Pac Ist 45, and several Gen 4s and 5s. Prices and percentages span wide ranges, reflecting mixed credit and market conditions.
The banking sector posts losses on Sub-Treasury operations with moderate pension payments continuing into early next week. A $50,000 gold engagement cites excess cash receipts over shipments and gold from Klondike. Money on call opens at 3 percent, with various rates for time loans and commercial paper, while foreign exchange shows firm closings and posted bank rates. Domestic exchanges differ by city, with US bank clearings and balances listed, and London call money at 24 sevens. Foreign securities and gold premiums are noted alongside government receipts and Sub-Treasury balances.
Washington reports the current Treasury condition at opening. Totals include reserve funds with silver dollars and bullion valued, trust funds for redemption, and a breakdown of gold and silver certificates notes and assets. Current liabilities and available cash are noted alongside deposits in national banks and overall totals.
Securities at auction yesterday in New York list includes National Biscuit Co 19 and 21 shares, Panama Railroad Co bonds, Chicago Burlington and Quincy mortgage bonds, Shore and Michigan Southern 7 percent bonds, New York Central and Hudson River 7 percent bonds, Syracuse Binghamton and New York Railroad consolidated mortgage bonds, New Amsterdam first consolidated mortgage 4 percent bonds, Brooklyn Ferry Company 5 percent bonds, Bay State Seamless Granite, Coal Iron and Railroad 5 percent bonds, Adirondack League Club shares, Beckenbocker Ice 5 percent bonds, and various other issues with details on due dates and coupons. Purchase money mortgage noted for premises on Arthur Ave New York City.
Foreign houses traded six thousand shares with mixed sales in the local market. American stocks remained steady but neglected amid nervous chatter about the King's health and coronation plans. Paris and Berlin markets stayed strong, limiting gold shipments from New York. Loan quotes included Amalgamated Copper, Anaconda, United States Steel, Erie, Reading, and many others at 2 1/2 to 3 percent. Standard Oil weakened, slipping 15 points to 656, closing near 660 after two days. Ladenburg Thalmann arranged a $500,000 gold shipment to Bremen aboard La Bretagne, separate from exchange activity. Burlington earnings hopeful on good corn yields. Distilling Company of America plan to convert two-thirds of preferred stock. holders yet to deposit may join by August 15.
Bradstreet s reports 73 business failures in July, up 13 percent from June but down from July 1900 levels. Liabilities totaled 6 762 080 dollars, less than half of July last year and about 50 percent lower than July 1900, marking the smallest July liabilities since 1892 except for one year.
Trading in outside securities was more active with sharp advances in several issues. Virginia Coal and Coke bonds jumped four points with 69 14 sales, stock up about three points to 17. Standard Oil weak, down nearly 20 points. Northern Securities around 1 1%. Oregon Short Line 4s advanced ½ point. United States Realty dropped then steadied. Pacific Packing and Navigation common up 12 percent on 70 shares to 6 9. Market closed strong.
Quotations furnished by Joseph Walker and Sons and by William B. Nichols and Co present in New York listings. Includes stock guarantees and street railway company notes with prices and initials.
Furnished by William E. Nichols & Co shows a garbled list of bonds and preferred stock quotes. Entries include New York and East River Gas, state preferreds, equity and convertibles with varied percentages and prices, plus Brocklys Union references and miscellaneous numbers.
Fourth week in July shows earnings for Chesapeake and Ohio and Chicago Indianapolis and Louisville lines. Figures include miles operated and monthly totals from July 1 to July 31, listing revenues and volumes such as 364.42 and 461,476 for C&O and 133,959 and 183,751 for C&I segment with a 379,245 July total.
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