Stock Market Dull as Prices End Heavy on Close
Closing prices yesterday of the principal active securities show a dull market with overall weakness from Monday. Traction shares moved lower despite early quotations, while late trading failed to lift key indexes.
Market gains fade as traders cover. prices slump again
Prices improved slightly in yesterday's market due to London buying and favorable railway earnings, but demand remained soft. Traders covered short positions and the list weakened after early gains, with traction shares driving a broad selloff. Despite note of rising railroad earnings in June, overall sentiment stayed cautious with no substantial support from large interests.
MENTIONED IN THIS ARTICLE
London
Paris
Berlin
Chicago
Milwaukee
St. Paul
Granger
Western
South
Norfolk and Western
Southwest
Missouri Pacific
Bear
Wall Street
Day's Operations in Bonds Market Weak on Government Issues
Government bonds closed weak with final quotations showing modest bid and asked levels across 1904 118% and 110% areas. Railroad bonds displayed irregular trading, totaling 1,266,500 par value, led by Atchison issues and a spread of active 4s and 5s across major lines.
MENTIONED IN THIS ARTICLE
U.S
Atchison
Baltimore and Ohio
Central of Georgia
Central Pacific
Chesapeake and Ohio
Colorado
Southern
Erie
Missouri
Kansas
Toledo
St. Louis
Kansas City
de Haven & Townsend
Wall St
Amer Ry Co
Penn Steel Com
Sph Co
Brook
N Gas
Penn el Veh
Cambria Steel
Choctaw Ry
Phila & Eric
Elec
Susque I
Val RR
Wilcoote
Marsden Deter
Welsh
North Penn
Penn RR Co
Ind P Ry Co
Lake Superior
Phila Co
People’s Tr
Cois
Diamond Steel
London Hints of Mixed US Securities Activity
American securities opened dull in London on June 19 with modest late recovery and an irregular close. Last prices showed Atchison 25 percent, Canadian Pacific 9, St. Paul 4, Illinois Central 114, Louisville and Nashville 77, Union Pacific preferred 744, New York Central 131, Erie 9, Pennsylvania 05, Reading 8, Erie first preferred 3, Northern Pacific preferred 7, Grand Trunk 6, Anaconda 8.
MENTIONED IN THIS ARTICLE
London
Atchison
Canadian Pacific
St. Paul
Illinois Central
Louisville and Nashville
Union Pacific
New York Central
Erie
Pennsylvania
Reading
Erie First Peaturies
Northern Pacific
Grand Junk
Anaconda
Money Market and Exchange Rates Report
Money on call ranges 1% to 4% with 8% for sixty days and 3 3/4% for four months on railroad collateral. Commercial paper at 2% to 4 1/4% depending on names. Foreign exchange shows a weak market with various cable and sight rates and bank posted levels. Domestic exchange cites discounts and premiums across multiple cities. London call money at 1 1/2%, Berlin and Paris rates noted, British, French and Spanish securities priced. Silver market reports bar silver at unspecified price.
MENTIONED IN THIS ARTICLE
Eichsmarks
Ixty Sage
Sterling
Aris
Rlin Reichsmarks
Bremen Reichsmarks
Reichsmark
Burg Reichsmarks
Materiam Guiliders
New Orleans
San Francisco
Sight
Telegraph
Cincinnati
Boston—Sc
Chicago
St. Louis
Savannah
New York
Philadelphia
Boston
Ralti
Berlin
Berlin Exchange
London
Jennigs
Paris Exchange
Paris
Stock Exchange and National Bank Deposits Report
Government receipts and expenditures for the day month and fiscal year are listed with totals. Customs and internal revenue receipts combine with miscellaneous items to show daily and year to date balances. National bank notes redemption receipts are noted along with current liabilities and cash available.
MENTIONED IN THIS ARTICLE
Washington
Treasury balances reveal large reserve and issue totals
Washington June 19 The condition of the Treasury divisions of issue and redemption at the start of business today shows a reserve fund of 180 million in gold coin and bullion. Redemption contains 229.054 million in gold coins and 418.12 million in silver dollars, plus 270.871 million in silver bullion from 1890 and 4.050 million in notes. Issuance lists gold and silver certificates and notes totaling 727.124 million. General Fund adds 42.745 million in gold coin, 26.778 million in gold certificates, 6.074 million in silver bullion, 6.552 million in silver certificates, and 22.004 million in US notes, with other items totaling 15.057 million. Total in Treasury 120.059 million.
MENTIONED IN THIS ARTICLE
Washington
Treasury
United States
Rubine Ee Neavibow
Aseneles Pearnte
General Fund
Boone Crs
Exports of Merchandise at Port of New York 1808 1899 1900
Week ending June 19 reports exports totaling 10 317 877 dollars in 1808 9 381 568 in 1899 and 11 450 452 in 1900. From January 1 totals reach 1 237 415 808 dollars for 1808 and 281 490 812 for 1900 with 218 920 597 in 1899.
MENTIONED IN THIS ARTICLE
New-York
Wall Street closes weak amid mixed stock quotes
Market outside securities shows softness with Standard Oil at 535 538. Other issues list Havana Commercial 9 preferred 40 45, Bay State Gas 1% 1%, Amalgamated Copper 85 85%, Amsterdam Gas 21% 254, Rubber Goods 25 26, Distilling of America 55% 194191, New-York Transportation 6 7, and more. Foreign trading shows London activity around 20 000 shares, with 15 000 purchases.
MENTIONED IN THIS ARTICLE
Wall Street
Standard Oil
Havana Commercial
Bay State
Markeen
Amalgamated
Amsterdam
America
New-York
London
American Steel and Wire
People’s Gas
Union Pacific Common
American Tobacco
Brooklyn Rapid Transit
Atchison Common
Chicago
Burlington and Quincy
Consolidated Gas
General Electric
New York Central
Northern Pacific
Rock Island
St. Paul
Sugar Refining
Union Pacific
Pennsylvania
Delaware and Hudson
Southern Railway
Federal Steel
Baltimore and Ohio
Third Avenue
Continental Tobacco
New Jersey Central
Missouri Pacific
Manhattan
Tennessee Coal and Iron
Louisville and Nashville
Northwestern
Western Union
National Steel
Teutonic
Europe
United Metals Selling Company
Zimmermann & Forshay
Federal Steel Company
Amalg Copper
el Veh Tr Co
Am Ag Chem
Markeen Copper
Nat Salt Co
New- Eng el Tr
New-Eng G & C
Arizona
New-Eng Gas
Tr Co
Bay State Gas
Brit Col
Chie & al
Royal Bak
Rub Goods Co
Cel&e
Elec Pneu Tr
Tel Tel & Cofa
Empire States
Tenn Copper
Union Er
Empire Steel
Flem Coal & C
Gen Carriage Co
Pneu H C
Havana Com
Sig Brel Occas Si
tEx Coupon
Market Buys and Sells by Principal Firms
Yesterday's market saw Union Pacific and many brokers active as buyers and sellers. Notable entrants included O Loeb Manson and Housman Co C A Harned sold 1000 shares and several banks and brokers such as J R Williston Cahn Ladenburg Thalmann Co and Halsted Hodges Eames Moore participated in purchases and sales across multiple carriers and cities.
MENTIONED IN THIS ARTICLE
Union Pacific
O. Loeb
Manson and Housman & Co
Manhattan
Sidenberg & Kraus
St. Paul, Housman & Co
C. BE. Carryl
R. H. Thomas
Rock Island
C. E. Carryl
Southern Pacific
J. H. Davis
Dumont
H. Clews & Co
Missouri Pacific
Whitney and Bianchi
Bogert and Dick Brothers
Wall Street Trading Roundup Shows Broad Stock Moves
A flurry of purchases and sales dominates the market with 1000 share blocks in sugar and tobacco firms. buyers include Atchison preferred and Northern Pacific via Street Norton and Williston led groups. Major names such as J R Williston, H C Taylor, I F Mead, and W S Gurnee appear amidst diverse railroad and utility stocks.
MENTIONED IN THIS ARTICLE
Sugar
Halle & Stieglitz
Atchison
J. H. Griesel
New-York Central
St. Paul, Thompson & Mairs
Baltimore and Ohio
Ladenburg, Thalmann & Co
Winslow
American Tobacco
H. Lapsley
Mendham and
Minzesheimer
W.S. Gurnee
Carlisle
P. N. Sproule
Metropolitan Railway
Weaver, Harris & Co
Content
Missouri Pacific
McIntyre & Wardwell
Northern Pacific
Street & Norton
W. L. Stow
Keech, Loew & Co
J. R. Williston
Vaughn
People’s Gas
Lidenberg & Kraus
van Emburgh & Atterbury
Ladenburg
Thalmann & Co
Coming Dividends Signal Cautious Corporate Payouts
The article notes directors of Northern Pacific Union Pacific Louisville and Nashville and Baltimore and Ohio may announce dividends this summer. Louisville and Nashville plans a July meeting with expectations of a 2 percent semi annual payout. Union Pacific likely to hold August 10 with no change from 3 percent. Baltimore and Ohio split on policy with one director favoring a 5 to 6 percent basis and another predicting no dividend this season.
MENTIONED IN THIS ARTICLE
Northern Pacific
Union Pacific
Louisville
Baltimore and Ohio
Wabash Debenture B’s Interest Payment Questioned
Wall Street reports the Wabash directors will not declare any interest on the debenture B bonds at the June meeting. Earlier rumors fluctuated between 2 percent and 1 percent, with current guidance suggesting no payment this season. Earnings justify a payment, but business and political uncertainties may delay.
MENTIONED IN THIS ARTICLE
Wall Street
Wabash
Norfolk and Western Posts High June Earnings Gain
Norfolk and Western reports the second week of June yielded a $60,762 year over year increase as traffic remains strong. New coal rates from April 1 are now applied to recently renewed contracts at the higher level. An N and W official says the third week should match the second week in June.
MENTIONED IN THIS ARTICLE
Norfolk and Western
Mexican railroads report rising earnings in June gains
Mexican railroads continue to show remarkable gains in earnings and trade reports from the Mexican Republic reflect growing business in all departments. The Mexican National Railroad reported yesterday for the second week in June a gross earnings gain of 332,345 over the same period last year, bringing the total gain since January 1 to 551,440. In U.S. currency the performance outpaces many American roads.
MENTIONED IN THIS ARTICLE
Mexican Republic
Mexican National Railroad
United States
Weakness in Republic Steel stock linked to bank collateral
Weakness in Republic Steel preferred was due chiefly to selling by C. I. Hudson & Co. Reports indicate liquidation and that the stock was refused by a bank as collateral for a large loan. Republic Steel common traded as high as 33 percent last year, now about 10 percent. Preferred at 50 percent, down from 79 in September 1899.
MENTIONED IN THIS ARTICLE
Republic Steel
C. I. Hudson & Co
Republic Steel Common
Chicago Grain Markets Narrow Drops and Cautious Bulls
Chicago grain prices drifted lower with wheat 1 1/2 cents under last night as profit taking spread among big traders. North Dakota showers offered little relief and Liverpool futures lagged Chicago gains. Corn held firm, oats steady to down, flaxseed soft, and hogs higher amid slow Western receipts. Major traders like Cudahy and Patten acted to reduce holdings, some buying back on breaks, while Northwest crop news remained cautiously favorable.
MENTIONED IN THIS ARTICLE
Chicago
North Dakota
Liverpool
Nicolineff
Cudahy
Patten
Bryumy
Minneapolis
Sac
Minnesota
Dakotas
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Mo Kan &T
North Pacific
Nor & West
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E &S
ae + io North American a& ref
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Werd
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Pullman
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Ee Chic Gt West
Do Ist
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LaesKr BF Sé
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den & RK
Third Ave
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Ey Inc
Inc
It Inc
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Inc. Dividends Inc
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Seni
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T Co
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J. Suo
Trevor ME
Trust Co of
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Williamsburg
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R Co
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Hide & L
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Pratt & Willingoo Celluloid Co
Sy Chel Ca
Singer Mfg Co
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Gnonee Ecae
Union Typewriter
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DEE
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Aten. Prooklyss Ferry
Evceeren Sbm
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Union Ferry
Askea
Cen
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Equit
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Standard Com
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D. Appleton & Com
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New York City
James G. Cannon
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Edmund C. Converse
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S. S. Conover
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WM. H. Barnes
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Tucson
Jer S. Logan
Greene Consolidated Copper Co
William St
Greene Ca Solidated Copper Company
Treadwell
William Street
Haskins & Sells
Certified Public Accountants
Lake Shore and Michigan Southern Railway CO
Grand Central Depot
States Trust Company of
Beaver
Colo
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