Sales Total Reaches 1 063 012 for Day
A plain report states total sales for the day hit 1 063 012 in revenue. No further details on products or outlets are provided.
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Newspaper
New York Tribune
Location
New York, New York, United States of America
Date
Jun 26, 1906
Page
4
A plain report states total sales for the day hit 1 063 012 in revenue. No further details on products or outlets are provided.
Stock market brief notes broad declines in many issues led by AllisChalmers and Manhattan Elevated, with several railway and industrial names showing losses. The piece also discusses foreign investment interest in U S railroad securities, London gold movements, and the positive export outlook driven by large harvests and expanded manufactured goods shipments.
Quotation for stocks opened declines and mostly drifted lower with heavy liquidation in the final hour. Bear forces, backed by selling from professionals, press values down while call money weakens and time money firms. Despite bearish pressure, fundamentals are cited as sound with expectations of a broader market decline amid political and economic tensions. European markets show disturbances due to Russia, while U.S. investors await the autumn elections and tariff talk.
The weekly statement lists averages for banks in New York City Brooklyn Jersey City Hoboken and Staten Island not members of the Clearing House but clearing through members. It shows figures for loans discounts investments circulation net deposits deposits with Clearing House reserve required and totals with increases from the prior period and mentions Philadelphia stocks referenced at the end.
Money on call opened at 8 percent with a high of 3 percent and last loan at 2 1/2 percent. Time money quotes ranged from 4 percent for up to 90 days to 5 6 percent for five to seven months. Domestic and foreign exchange markets closed dull with various discount and premium notes listed. Bank clearings totals for New York and other cities are shown, along with silver and gold pricing updates and government receipts for the day and fiscal year.
Foreign trading was light in London and the local market. Dividends declared include E. W. Bliss 2% on preferred and 2% on cargoman stock, Chicago Burlington & Quincy 1% quarterly, Buffalo & Susquehanna 4% on common, Union Square Savings 3% on deposits, New York Savings 4% for six months. Foundry iron remains scarce in Buffalo. International Harvester seeks 3,000 tons. Burlington bond syndicate dissolved. Kansas City Southern note underwriting extended. Currency transfers from San Francisco total 20.356 million since May 4. Allis-Chalmers bonds to be a first mortgage, proceeds for working capital and back dividends. Amalgamated Association reports 31 of 41 lodges expect continued work.
PIG IRON CERTIFICATES traded dull at the New York Produce Exchange with prices for regulars in June July and October bids. American Car and Foundry Company director hints at a potential fall dividend on common stock. Norfolk & Western expects a 2,000,000 rise in gross earnings for the year ending June. American Woollen declares a regular 1½ percent quarterly dividend on preferred stock payable July 4. books close June reopen July 17. twenty-ninth straight quarterly preferred dividend totaling $10,500.16.
The outside securities market weakened under moderate selling pressure with mining shares the weakest. Industrials slipped. some stocks like Standard Oil rose briefly before retreating. Notable movers included American Can heavy but inactive, Bethlehem Steel easing, Tobacco preferred recovering after a point loss, International Mercantile Marine Preferred steady, and Nevada Consolidated holding steady. Bonds were dull and softer in sympathy with stocks.
Brief notice requests bids from ferry companies for a stock offering with two percent focus. The document lists NY entities and associated figures such as 53.198 and 11023 and references NY and NN markets, indicating a regional stock offering and expected returns.
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