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This newspaper page contains 15 articles. Subscribers can read the full text of each article.
Newspaper
New York Tribune
Location
New York, New York, United States of America
Date
Jun 16, 1914
Page
5
The article discusses how Wall Street may rebound only by finding a new foundation for enthusiasm beyond railroads and industrials. It notes shifts toward oil, tobacco, utilities, and low priced rails, and considers government ownership and reorganizations as possible catalysts amid past booms and busts.
In the era of rapid railroad finance shifts the Lackawanna faced near ruin during a crisis when directors including John T. Blair and Sam Sloan sought court help. Blair extended a loan of 4 to 5 million dollars to cover floating debts, receiving a plain 6 percent return rather than ownership or control.
The Street cites widespread concern as stocks slip with Denver and Rio Grande showing strong reaction. Analysts say President’s stance on psychology affects market mood while Denver stock retreats to near 1898 levels and St Louis Southwestern dips after a Gould issue and a dividend decision by directors.
London’s demand for gold is discussed as ships for Paris decline. Paris holds an enormous stock and preparations for ending the ban are near completion. The shift of demand to London is noted amid ongoing operations and market expectations.
Washington June 1. The condition of the State Treasury at the beginning of business today shows general fund balance of 34,406 and total receipts 4,964,041 with total payments 2,008, by Salteday. The deficit this year against a surplus last year excludes Panama public debt transactions.
The Montana Power Company report shows May gross earnings rising versus May last year, with net earnings after taxes up by 19.07 and a surplus after dividends disbursements increasing. The Montana plant projects completion cost about 1,080, furnishing power to the Chicago Milwaukee and St Paul Railway by January 3, and half finished with 18460 horsepower rated at 1,8 horsepower. Jacksonville Traction Company April net revenue rose to 12,806, with twelve months ended April 20 gross earnings up 123,064 to 711,162 and a surplus gain ongoing.
Inactive yesterday entries show bids and asks for commodities and services. Mentions include Union packs and trade mark notes with references to Houston and various firms. Details are fragmented but indicate market activity and rights claims.
Petition filed by multiple creditors listing liabilities around 96 thousand dollars and assets of 178 thousand, naming Mount Vernon Trust Co Norwalk Fairfield County National Bank Norwalk Conn and others. Schedules show detailed liabilities assets and discharges granted for several individuals including Hugh's Lawlor Albert H Pont Robert Dillon and others.
Copper traded quiet on the local exchange with spot and futures quoted but market closed easy for copper and weak for tin after yesterday’s sales. London tin closed weak while New York spot traded higher with mixed futures and various regional price marks noted for stock and billets.
Trading on the curb stock market faded with lower prices and quiet activity. Notable moves included Standard of Kansas down 9 points, Kerr Lake rising 14 points in mining, Caribou Cobalt down 1 point, and Willys Overland inching up slightly. Consolidated Gan convertible steadies near 15 and loan issues drift.
Trading activity was light with only a few hundred shares changing hands. A new firm, T. H. Cooke & Co., formed to handle stock and bond business, offices at 74 Broadway, with Leah Cooke Edward W Hoyt and C Haddington Cooke as members. The Virginian Power Company notes due August 1, 1913, will be paid at par with interest on July 13 at the New York Trust Company, trustee of the Bank of Scotland in London. Missouri Pacific head B F Bush plans to travel to Europe soon with his family. St Louis Iron Mountain and Southern stockholders meet September to approve a trackage mortgage with Texas & Pacific for access to New Orleans. Rock Island protective committee meeting, postponed to Thursday at 10. The report notes a delay in the meeting of the Rock Island protection committee.
Market summary shows bulls failing to sustain gains in crops with wheat futures retreating after thin buying support. Corn prices weakened as visible supply rose by over 27 million bushels, and oats traded softly. Coffee steadied with small daily sales under 5,000 bags, yet gains of 3 to 6 points occurred on firmer foreign demand.
New York market report dated June 15 1914 covers grain with notes on wheat and corn prices and cash market movements, including No 2 hard winter and No 1 northern Duluth quotes, plus interior receipts and Seaboard clearances for flour and wheat. Livestock section reports weekly sheep and cattle receipts and price ranges, with detailed quotes for steers cows vealers and lambs and two days of receipts totaling hundreds of head.
Reports that eastern cotton areas benefited from rains and liquidation fears ahead of notices caused a sharp market decline. July slipped below 13 cents, August a touch under, and October fell to 12.60c with early covering amid irregular intraday activity. Spot markets steadied little as midland prices fell, while futures showed limited rallies and overall unsettled tone across southern markets.
New York June 15 1914 country produce markets report receipts and prices for butter cheese hogs and fruits. Market activity varied with higher prices but slow overall demand and larger receipts expected from commission houses and local buyers.
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