Stock Values Rise With High Day Totals
Stock values climb as daily totals show 702,798 shares traded, up from 245.29 shares. January 1 to June 24 period records 6,956,334 shares, contrasting with prior listings.
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Newspaper
New York Tribune
Location
New York, New York, United States of America
Date
Jun 25, 1909
Page
13
Stock values climb as daily totals show 702,798 shares traded, up from 245.29 shares. January 1 to June 24 period records 6,956,334 shares, contrasting with prior listings.
A collection of 1909 dividend notices from multiple institutions. Banks including Bank of America Garfield National Bank Merchants Exchange National Bank Fourth National Bank East River National Bank Importers and Traders National Bank list semi annual or quarterly dividends payable and transfer book closings. Rail firms TANADA SOUTHERN RAILWAY and MICHIGAN CENTRAL RAILROAD Company announce semi annual dividends with payment dates and stockholder record deadlines.
London June M The Bank of England weekly report records reserve up 669000, circulation up 312006, bullion up 981000, other securities down 84000, other deposits up 133000, and public deposits up 435006. Government securities unchanged. Discount rate remains 2 percent.
In yesterday's stock action Harriman shares led gains with Union Pacific and Southern Pacific climbing, while a new Mexico related Harriman lines corporation was announced. Analysts cite aggressive bull moves and macro fears about currency and inflation, with Europe likely to increase foreign holdings.
The report notes bullion activity in the week and suggests if the expansion persists the irreducible 2 per cent minimum discount rate may be examined. Sterling exchange rose, with indications that gold exports were involved.
A dense listing shows broad bond activity with 600 Rep of Cuba Ss 193, Erie pa Cl Tr 4s, Sao P Ss Rots 4% and G El Deb Ss, among others. Totals include large volumes across utilities, rail and industrial issues with prices, yields, and par values, highlighting a broad market with many issuers and maturities.
In London the American securities market, especially Harriman shares, was active with heavy buying. Quoted prices show mixed gains across U S and Canadian listings, while foreign money rates edge higher. Bar gold and exchange rates also noted in brief market update.
The clipping lists bid and ask figures for various bonds across years 1953 to 1959 with percentages indicating bid or coupon values. It includes notes on May and November dates and references to 4s and 6s, with entries like 1.111% 111% and 1.121% 121% and terms such as coupon or registered.
The report lists last closing prices and bids for stocks with no transactions yesterday on the New York Stock Exchange. It includes numerous names such as AmCoal, Arm St Fdy, Ann Arbor, Bethlehem Steel, Chicago and North Western, Detriot United, Sears Roebuck, and Wells Fargo among others, with bid and ask figures and closing quotes.
Money on call opens at 1y1 percent with varying terms up to eight months. Mercantile paper shows rates for sixty to ninety days and six months high grade names. Foreign exchange market firm with cables and demand sterling higher. domestic exchange notes par and premiums across cities. Government receipts and expenditures detailed. monthly totals show a large surplus. Sub-Treasury balance to clearing house reported.
A fragmented London notice lists locations 18 Bishopsgate Street Within PARTS and Boulevard Housemass with unclear details. The text preserves two street names and indicates an urban property or site reference without full context.
The market for outside securities showed little interest as heat dampened activity and prices moved in a narrow range. American Light and Traction common jumped 16 points to a new high, while Standard Oil firmed and Chicago Subway remained heavy and inactive. Mining shares held firm with copper prices strong. Davis-Daly gained amid rising activity, Goldfield Daisy advanced, and bonds saw light inquiry with Kansas City Southern 5s in fair demand.
The Consolidated Stock Exchange saw heavy activity in Union Pacific and Reading with Reading at 153 3/4 and Union Pacific around 194 1/4. Southern Pacific also rose to 150 1/4 while market tone stayed slightly stronger than the rival board. Total volume approached 113000 shares across 58 issues and American Hide and Leather common joined as a new addition, Third Avenue topping the specialty group.
Foreign houses moved about 30,000 shares in the local market with copper and South African shares active. Dividends declared include Cleveland & St Louis, American, Merchants’ Exchange, and several banks with July 1 or July 3 payment dates. Pacific & Eastern Railway offered $400,000 in stock at 90 with a 10 percent stock bonus, spanning Oregon timber districts and railroad connections. United States Steel reports strong capacity use and large rail orders. Copper prices rise locally while British Columbia Copper directors change. Consolidated Exchange to close for July 3. grain market to stay open.
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