Stocks Close Strong With Active Low Priced Issues
The report notes losses in yesterday's main active securities and net changes from Tuesday's snail quotations, highlighting strength in the stock market with emphasis on low priced issues.
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Newspaper
New York Tribune
Location
New York, New York, United States of America
Date
Dec 06, 1900
Page
16
The report notes losses in yesterday's main active securities and net changes from Tuesday's snail quotations, highlighting strength in the stock market with emphasis on low priced issues.
Trading was moderately heavy with an irregular move in prices. Early declines gave way to midday gains that held into the close. Bear selling increased while bulls on good margins would not rush to cut losses. Investors expect a stronger January with potential market shifts across Southwestern railroads and major utilities.
The Day's Operations in Bonds notes government bonds closing lower with brief up and down movements. Railroad bonds show general strength though totals traded par value $2,954.40 versus $3,721,400 on Tuesday. Major declines hit several lines including Atchison, Baltimore and Ohio, Central of Georgia, Central Pacific, Chesapeake and Ohio, Chicago and Alton, Erie, Green Bay and Western, Missouri Pacific, Northern Pacific, Peoria and Eastern, Reading, St. Louis and Iron Mountain, St. Louis Southwestern, Southern Pacific, Southern Railway, Union Pacific, and Wabash debentures.
London trading closes with heavy selling from New York accounts. Prices listed include Atchison 3 percent, Canadian Pacific 84, St Paul 1304, Illinois Central 127 percent, Louisville and Nashville, Union Pacific preferred, Erie, Pennsylvania, Reading 10, Erie ist preferred 424, Northern Pacific preferred, Grand Trunk 6 percent, and Anaconda 9.
Banks show a weekly loss of 2 977 0 to the Sub Treasury while expecting an active money market post holiday but not tight rates. Interior demand for prime commercial paper rises. time money remains easier locally. Call rate 4.5 percent. sixty days 4 426. three months 4 495. six months 4 65 percent on railroad collateral. Domestic exchange shows slight discount versus par.
Bank clearings and exchanges across New York Boston Philadelphia and Baltimore with balances and totals. Foreign money and securities rates include London Berlin Paris London Paris and Madrid markets with discount rates and exchange figures. Silver and gold premiums listed for major cities including Madrid Lisbon Buenos Aires and Rome.
The page records closing prices and bid asks for numerous stocks including Amer Cotton, Canadian Pacific, Chicago Burlington and Quincy, and Union Pacific among others. It also lists bonds and bank stocks with totals and notable price ranges, ending with a total consolidated value of hands at 3,954,500 dollars.
Washington reports the Treasury totals in reserve and general funds, with gold and silver holdings, certificates, notes, and deposits. It lists government receipts for the day and month, year to date, plus Sub-Treasury position and a net excess of receipts.
London sold in the local market with heavy dealings in Chesapeake and Ohio and Pacific lines. Reports touch on Am Steel and Wire, Erie and Wabash, Southern Railway earnings, Norfolk and Western gains, Texas and Pacific activity, and Amalgamated Copper shifts. Kept watchers noted inside buying, dividend declarations, and new director elections at Corn Exchange Bank.
Yesterday's trading featured major participation by Wire-Honigman & Co and Hous man & Co with 2,000 shares. Numerous firms like Manhattan-Fairchild Tennessee Coal and Iron Amalgamated Copper and Atchison firms moved sizable blocks, including 7,000 to 10,000 in Amalgamated Copper and multiple 1,000s across railroads, sugar and tobacco sectors.
The Missouri Kansas and Texas Railroad reports strong growth as cotton and general merchandise traffic surges. November earnings exceed all prior Novembers, with weekly gains of 78971 and monthly rise 220378, and July 1 gains totaling 579061. Completion of the Sherman Shreveport and Southern extension opens western to eastern routes via the Queen and Crescent system.
The Atchison Topeka and Santa Fe Railroad directors announce a semi annual 2 percent dividend on preferred stock from surplus for the year ended June 30 1900 bringing total to 5 percent for the last year. Year end balance after charges and dividends is 4 090 414. For four months into the current year gross earnings rise 2036 97 and net earnings after taxes and rentals up 1 136 639 aided by San Francisco and San Joaquin Valley Railroad earnings of 373 miles since July 1. No action on common stock.
Bradstreet's notes fewer overall failures in November but heavier liabilities, driven by three large wool and woollen goods failures. A wool dealer, a dry goods commission house, and a woollen fabrics manufacturer failed, the latter two linked. Compared with November last year, failures and liabilities show small gains, with November typically a month of settlements in wholesale trade, though this year a large crop of...
Failures reported by Bradstreet in November show total liabilities of 13 23 991 and assets of 6 267 825, a 46.6 percent asset-to-liability ratio. The number of commercial casualties declined from October but rose vs November last year, with liabilities up 29 percent from October and 7 percent above November 1899, while overall failures shifted from prior months.
Auction listing shows intermingled railroad bonds and stock certificates including Northwestern Elevated Railroad Chicago Toledo and Ohio Central Evansville and Terre Haute Missouri Kansas and Texas Kansas City bonds. The sale also notes New York New Haven and Hartford and St Louis San Francisco issues with price quotes and coupon details.
The document lists various securities and bonds including 2500 dollars in Louisville and St. Way mortgage stock at 3 percent, 10000 dollars Tennessee Coal bonds due 1917, and multiple shares in banks railroads and companies such as National Shoe and Leather Bank, Columbus and Xenia Railroad, Bank of America, New York New Haven and Hartford Railroad, Garfield National Bank, Mechanics National Bank, Brooklyn Union Gas, National Bank of Commerce, Colonial Trust, Mahoning Valley Railroad, and others. It also cites New York Law era bonds, first mortgage income bonds, Delaware/ Dominion steamship issuances, and bond mortgages involving Baltic Realty Company and Brooklyn Wharf and Warehouse Company with properties listed in Brooklyn and Manhattanville areas.
Trading in the outside market yesterday showed moderate activity with several issues moving. General Carriage saw a swing from open to quick sell off, then partial recovery, while New England Transportation and Rubber Goods firms traded for modest gains and declines.
A brief notice lists active stocks furnished by C. F. Frothingham at No 2 Broad Street, with securities details summarized for investors.
Market notes from New York list bids and asks for rail and gas securities. NY & East R Cen Un Gas Ss 106s WF Ist 5s. Totten 112 1a. Ge pref 0.5. N Am Co Se 108% 108%. Mixed quotes reflect speculative activity and firm listings.
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