Garfield National Bank declares quarterly dividend
A meeting of the Board of Directors on June 1908 declared a three percent quarterly dividend on the bank's capital stock. Transfers will be closed until Wednesday, June 1, 1908. Douglass, cashier.
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Newspaper
New York Tribune
Location
New York, New York, United States of America
Date
Jun 29, 1908
Page
19
A meeting of the Board of Directors on June 1908 declared a three percent quarterly dividend on the bank's capital stock. Transfers will be closed until Wednesday, June 1, 1908. Douglass, cashier.
Banks hold rising funds as stocks stay dull and speculative trading remains tepid. Analysts note pessimistic talk from bears but Morgan urged recovery, with politicians and crops shaping a potential August bull move amid cautious investment.
The piece notes abundant idle money in banks fueling expected activity in first class railroad bonds and gas company bonds. It cites investors’ reluctance to buy near tops, predicts gains for high grade bonds as yields compress, and highlights extensive Treasury and bank movements affecting money supply and rates.
The week closes with varied stock moves as rail names and industrials post gains and losses. Major rail peers and associated utilities report weekly price changes, with a broad table listing high, low and final figures for June 29 1907 and year to date shifts.
The New York Clearing House exchange totals and NYSE stock sales for the latest week are shown alongside figures from the same week in 2005 and 2007. Pax changes amount to 1,164,260,274 dollars with 1,500,199 shares, compared to 1,485,380,471 dollars with 643,104 shares in 2007 and 1,512,509,900 dollars with 642,000 shares in 2005.
The Tribune reports 39 railroads for the second week of June with five gains totaling 18 819 and 34 losses totaling 1 937 234, a net loss of 1 918 424. For the third week of June twenty nine railroads show three gains of 14 871 and 26 losses of 1 668 089, a net loss of 1 653 219.
Holders of Metropolitan Elevated Railway first mortgage bonds receive exchange and transfer details for Manhattan Consolidated First Mortgage bonds. Central Trust Company of New York will handle payments from July 1 1908 and mail remittances. Moesern Redmond & Company at 22 Pine Street are assisting with exchanges for retired Metropolitan bonds.
Shor Crust Co reports gross earnings of 275 255 for 11 months from July 1 to May 31 with operating expenses and net earnings listed. Net earnings for the period are indicated but not fully detailed in the fragment. The data references Fifth Avenue and 26th Street locations.
The weekly market note lists rail and mining sales figures including Allis halm 3s at 77.0 and 225.0 for various items. Entries mention Am Sti Pury, N Roof Mex, and G&G pents among other terse transaction notes.
A dense ledger style list of securities and bonds with bid and ask figures appears. Stocks include Lorillard, Am Can, Empire, Texas Co, Standard Oil, and various manufacturers and utilities. quotes show preferred and ordinary shares, bond issues, and provisional bids. The fragment notes market activity and prices as of the period with numerous figures and shorthand names.
Clinton Gilbert reports a dense list of trust and surety companies with varied bid asks and locations. Notable entities include Alliance Realty, Mutual Alliance, Metropolitan, National Surety, Empire Trust, Equitable, Guaranty, Home Trust, Guardian, and Westchester firms. Locations span New York City boroughs and nearby areas with multiple street addresses such as Broadway Manhattan Fifth Avenue Flatbush and Long Island entries.
Last week an oil well at the Follawsbee Pool No 12 on La Rette Iron Works property yielded about 200 barrels daily, near No 9, with further gains from a Brooke County barrel well tied to Mahan and Ferguson No 2. Five river front wells raised Brooke County production to roughly 550 barrels, while activity remains steady in Indiana and Illinois leasing near Casey. Refined oil prices hold, with price differentials noted in New York and global markets.
Receipts for the week show beef cattle steady to higher with grass stock strong. Hogs and calves mixed with common stock softer. sheep and lambs varied by class from wethers to lambs. Dressed stock and city meats steady with prime beef and western cattle noted. calves and veal prices mixed amid regional demand.
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