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Newspaper
New York Tribune
Location
New York, New York, United States of America
Date
Jun 12, 1901
Page
2
The afternoon session ends with buyers lingering as gains ease and prices hold. Markets show strong bonds and ample money supply in the morning trading, indicating healthy speculative activity but cautious end-of-day sentiment.
Early solid advances eased to irregular afternoon trading with net gains in many issues. Missouri Pacific hit a new high at 122 in the industrials Linseed stock surged on board changes while Tobacco and Copper shares reacted. Inter Minnesota Pump placed common stock at 4 percent dividend.
Railroad bond market showed strength with total par value sales reaching 4 060 000, up from 2 234 900 on Monday. Heaviest trading concentrated in Atchison issues, Baltimore and Ohio 4s, Brooklyn Elevatedists, Central Pacific 4s, Colorado and Southern Ist 4s, Erie general 4s, and others including Northern Pacific 8s and Reading general 4s.
London stock market summary shows an irregular opening for American securities followed by active trading and rising prices. Final quotations include Atchison 99 3/4, Canadian Pacific 206 1/4, St Paul 170 1/2, Illinois Central 146, Louisville and Nashville 112 1/4, Union Pacific Preferred 92 1/2, New York Central 19 1/2, Erie 4 1/2, Pennsylvania 23, Erie Ist preferred 7 1/4, Northern Pacific preferred 100, Grand Trunk 1 1/2.
Money rates show call money at 3 percent with other terms at 3 percent for sixty days, 4 1/2 percent for four to six months on railroad collateral. Foreign exchange firm with closing rates for cables and bankers’ posted rates. Domestic exchange in several cities and bank clearings listed. London call money at 19.2 percent, Berlin and Paris discount rates noted. foreign securities and silver and gold premiums provided.
Washington June 11 treasury report shows reserve fund gold coin and bullion at 150 million. Divisions of redemption list silver dollars and bullion totals of about 48.7 million. Issue division notes over 770 thousand, with gold and silver certificates detailed and national bank deposits at 102 million. Government receipts for the day total 1.084 million with expenditures 995 thousand, and fiscal year totals show receipts over 553 million versus 489.7 million in expenditures.
The notice references July option sales with figures 69% and 71, mentioning Saxon and Wal Se. It appears as a fragmented market update listing bid or ask levels, with tokens like High Low Last Sales and est. missing full context.
Port of New York export figures for 1991 and earlier years show weekly totals and year to date sums. The week ended June 11 reported 11.1 million in merchandise exports, with year to date totals around 239.95 million, and cumulative figures near 270.12 million in the period shown.
London prices higher as foreign houses buy in the local market with total dealings at 45,000 shares. Dividends declared include Manhattan Elevated 1 percent, Northern Central 4 percent, American Beet Sugar 1.44 percent on preferred, Western Union 1.25 percent, Sloss-Sheffield 1.4 percent on preferred. Erie first preferred dividend unlikely until Mr Organ returns.
The International Steam Pump Company announces a 4 percent dividend on common stock from last year’s surplus earnings, with full amount set aside for quarterly payments. Preferred stock has paid 6 percent since August 1899, while this is the first common dividend. The firm comprises leading pump manufacturers and is held by substantial investors.
The statement for the quarter ending May 21 shows earnings from operation of 201,032 with depreciation and repairs charges, leading to a net figure of 201,228. Accrued bond interest is 50,088, balance 150,555, and the surplus totals 482,156 after preferred dividends of 114,000 and prior surplus adjustments.
Holders of 12 million dollars of Missouri Pacific debenture bonds opt to convert their bonds into stock. The 5 percent bonds, redeemable with rising rights over five years from June 1 1991, reduce fixed charges by 600000 dollars annually. The move aims to shed fixed costs and may signal future dividends.
Outside securities market ends firm with limited dealings. Prices generally hold firm and demand remains strong for American Duck common, with 1,500 shares changing hands.
Traders moved bids from 36 percent to 31 percent while the preferred issue held a quiet tone. Bid prices were 90 percent offered at 9 percent. Sea board Air Line and American Can showed fractional advances. American Locomotive enjoyed strong demand though no stock was offered.
In Chicago a weak wheat market followed the government crop report. July futures dipped to 1 1/4c, June 1/2c, and September down to 6 7/8c. Cash demand appeared with 230 000 bushels sold and seaboard shipments of 48 loads. contract stock dropped 176 000 bushels amid broader world supplies.
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