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Newspaper
New York Tribune
Location
New York, New York, United States of America
Date
Jun 13, 1916
Page
5
Banking and investment circles report nearing completion of a French loan with Denmark buying allies' bonds. A lively stock market upswing reflects optimism about a Republican victory and a possible third ticket, while traders weigh political uncertainty and potential impact on the market.
Trading on the New York Stock Exchange Monday showed bonds at 129,000 against Saturday's 1,203,000 with year-to-date totals and weekly comparisons. Wheat and corn futures moved under liquidation and weather hints, while railway and miscellaneous securities rose modestly. Chicago price data noted low wheat records, with international copper orders anticipated and a cautious tone in commodities and stocks overall.
Public utility firms report May earnings and debt actions. Cumberland County Power and Light shows near break even net earnings due to depreciation and maintenance costs. Toledo Railways and Light and Power discuss stock exchange and reorganization plans. Rhode Island Company sells 2,603,000 five year five percent notes to Bedell & Co.
Disjointed OCR notes show copper near 121 10s spot and 119 futures in London. tin quotes around 47 a pot in New York. Mentions weak markets and various locations including East St Louis and New York. Spelter cited as nominal. rough London price near £10.
New York June 12 1916 reports butter and country produce prices with varied grades and receipts. Cheese and dairy items show several classifications including firsts seconds and lower grades, alongside rye straw hay and other produce trades.
The cotton market opened with a sharp decline but later pared losses, with October futures slipping to 12.88 before climbing to 12.95 and 12.98. Trade was active early, then quiet, as sentiment remained cautious on favorable weather and ongoing southern hold patterns, with Liverpool and Southern markets mixed and exports totaling 5,166,388 bales for the season.
New York weekly receipts show 14 200 head in market listings with calves veering variable. Steers and heifers traded firmer late while cows and bulls eased, with overall tone mixed as Jersey and local buyers moved through yards in a volatile session.
Janet E Stewart filed a bankruptcy petition listing debts and assets amid a flurry of creditor notices. The case names Morris Sunt and Herman Schwartz among others, with schedules and attorney details shown, indicating insolvency proceedings and asset assessments.
The May bulletin from the American Railway Association shows 24.67 more freight cars idle on U S and Canadian lines, indicating efforts by railroad officials to relieve traffic congestion and re equipment.
The cattle, veal, calves, lambs, and sheep market shows varied values with common to prime veal around 9.7 per 100 lb, eulia at 7.7, calves at 7.5 to 9.6, city dressed venison at 15.4 to 19 present, and country dressed winners. Sheep and lambs steady to higher with sheep around 4.5 to 6.5 per 100 lb and lambs near 44.50 for select lots. mutton and hides reported steady with overall market firm and two days of receipts totaling over 6000 head across categories.
Arthur J. Brooks a contractor petitioned the Supreme Court for a writ of habeas corpus directing Mrs Flora Brooks to produce their three children Flora Lillian thirteen Arthur J H Jr twelve and Irvine B eight said she abducted them from 256 West Eighty fourth Street He cites marital estrangement and claims the wife’s influence endangers the children and has improperly trained their minds.
City plans a grand Independence Day program with a $40,000 budget. Mayor's committee chairman George Gordon Rattle announced the event would be the largest in memory, backed by $25,000 from the Board of Aldermen and about $15,000 from public subscriptions for general expenses. The plan includes over 500 meetings across schools and play centers, 20,000 athletes, and local outlying community celebrations with patriotic song performances.
The Montclair Commission Government League moves from referendum success to candidate selection. Dr. F M Foshay, former Town Council member under Mayor Hinck, chairs the committee tasked with evaluating contenders. A meeting is planned this week to discuss nominees, with twelve men already indicating intent to run for the commissionership.
Directors of the S S Reenga Company of Michigan declare an initial 1 percent dividend on common stock with no period stated but assumed semi annual. Dividends on the old SS Company of Delaware common stock set at 3 percent semi annually.
Lee Higginson Co and William A Reed Co bought five million dollars of three year three percent notes of the Newfoundland government. Proceeds from part of the issue will refund maturing obligations. Public offering of the issue expected shortly.
A Paris dispatch reports the Allied economic conference set to open Wednesday will avoid direct tariffs but cannot avoid trade disputes. It notes factions in Britain France and Germany will clash over Alsace Lorraine trade with Germany and the postwar exchange balance. The Comptoir d Escompts urges calm, asserting wartime debts are contained within France and that investing abroad will hasten exchange normalization. The piece also cites 1915 earnings gains for the Pittsburgh Ashtabula Railway at 6,476,427 dollars, up 1,269,?83 from the prior year, amid a broader page containing foreclosure ads and notices.
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