Securities Values Generally Higher
Total sales for the day reached 504 850 shares versus 428 516 the same day last year. For January 1 to July 16 the period totals 89 780 147 shares, down from 120 841 739 in the prior year. Unlisted.
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Newspaper
New York Tribune
Location
New York, New York, United States of America
Date
Jul 17, 1908
Page
2
Total sales for the day reached 504 850 shares versus 428 516 the same day last year. For January 1 to July 16 the period totals 89 780 147 shares, down from 120 841 739 in the prior year. Unlisted.
Early trading showed weakness but a late session advance lifted most issues. Sugar and United States Steel led gains as banks plan for harvest season support a broad, low-interest money environment anticipated through crop moving.
The report lists extensive bond sales across multiple issues including U S Government, railroad and corporate securities with varied coupons and yields. Notable items include Adams Tobacco, Am T & T, Mexican Central, and Santa Fe bonds among many others totaling $2,948,000 in sales.
The fragment lists bid and asked prices for various stakes and bonds with percent yields and dates ranging from May 1984 to November 2008. It notes coupon or registered status and includes percentages such as 1.108 and 1.105 with multiple entries like 6s and 5s across several years.
London markets show heavy selling in American securities with quotes from London and New York. Major issues listed include Atchison Canadian Pacific St Paul Illinois Central Union Pacific US Steel and others with mixed gains and losses and foreign money rates noted including London call money and Paris and Berlin discount levels.
The list shows stocks with no transactions yesterday on the New York Stock Exchange. It includes last sale and closing bids and asked prices for many issuers such as Adams Ex, Am BS, Allis-Chalmers, Am Malt, B&O pf, Brunswick, Grandby, Homestake, Deere, Int Harv, NY Central, Read, Sears Roebuck, and Wells Fargo among others.
Money on call opened at 1 percent and closed at 1 percent with a 14 percent ruling rate. Time money unchanged as demand remained moderate. Domestic and mercantile papers showed steady to modest gains. Foreign exchange opened slightly easier, with sterling around 4.87 and francs and marks steady. Bank clearings for New York and other cities listed, with substantial daily receipts and deficits. Sub Treasury shows a debt to Clearing House of 1,347,533.
London reports a reserve rise of 337000 pounds and a 281000 pound drop in circulation. Bullion up 56000, other securities down 886000, other deposits down 1028000, public deposits up 441000, government securities unchanged. Reserve ratio rises to 50.40 percent from 49.23. Discount rate stable at 2 percent. Paris notes France gold on hand up 3775000 francs and silver down 8725000 francs.
Extreme bulness prevailed in outside securities yet prices stayed steady. A few mining shares attracted attention while most were neglected. Goldfield Daisy fell about 5 cents with some recovery, Cobalt Central and Tonopah Mining showed mild gains, and American Tobacco rose sharply while Standard Oil remained steady. Bonds saw little demand aside from Adams Express 4s, which dipped slightly.
Fragmentary notes show high and low prices with odd lots and estimated sale values. Adams Export columns and cents per share appear, indicating evolving bond and stock activity despite unclear figures.
Sealed proposals for the sale of One Hundred Thousand Dollars par value of Seven Percent Gold Bonds of Republic Distilling Company are invited at No 40 Exchange Place New York City to be received on or before August 1908. Bonds will be offered at the lowest price but not exceeding accrued interest and will be paid on September 1 1908. EB D Huggins is handling the sale.
The market shows inactivity with London consol weakness yet firm overall. Bank of England keeps rates, Paris seeks gold for a Russian loan. Baltimore & Ohio analyses seven year earnings, noting high common stock returns but modest dividends. Water power plans for Upper Missouri River development outlined, with staged construction and large dam projects.
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