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Newspaper
New York Tribune
Location
New York, New York, United States of America
Date
Oct 17, 1908
Page
17
Total sales for the day stand at 540,386 shares, with January 1 to October 16 totals juxtaposed against 1,09,477 for the comparable period and 142,504,193 shares in 1977. Durations and percentages indicate market volatility and changing spending levels.
Little interest shown in outside securities as market activity stalls. Inside account sees buying and selling in select mining stocks with fractional price moves and a steady tone. Nipissing shows strength on higher turnover. Havana Tobacco up ½ point. Standard Oil firm. Bonds remain dull and unchanged.
The Mines Company of America in New York announces its regular monthly dividend of two percent payable October 26, 1908 to stockholders of record October 17, 1908. Transfer books close 8 P M October 17 1908 and reopen 10 AM October 26 1908. D Tooker Secretary.
News reports that T. Van Brunt, long associated with 3S. H. Harriman and Harriman properties, resigns from most companies where he held top roles. He leaves Furneceville Iron, Augusta-Aiken Railway & Electric, Hearne & Brazos Valley Railroad, New Orleans Warehouse, North Augusta Electric, St Joseph & Grand Island Railroad, Sinnemahoning Iron and Coal, Spiral Bearing and Supply, Railroad Securities Company, and Wells Fargo. W. V. S Thorne becomes Furnaceville Iron director, Stuart R. Knott joins Wells Fargo board, and ex-Judge R. S. Lovett may replace him on St Joseph & Grand Island. Van Brunt remains president of North Butte Extension Copper Mining, which is to reorganize with new officers retiring. His stock in North Butte is said to be small now.
The United States Finishing Company reports fiscal year results ending June 3 with receipts from sales 4,467,735 and cost of production 3,234.28 yielding net profits 1,253.44. After deductions for maintenance and general expenses 1,269,848 and fixed charges plus preferred stock dividends 361.0, a surplus of 17.40 was charged off for depreciation. The resulting profit and loss surplus as of June 30 remains uncharged at 2.0%.
Chicago October 1 Pullman company filed a new schedule sheet lowering seat rates in every parlor car across the country. General Manager Richmond Dean said the book is a readjustment rather than a regulation and serves as a convenient reference with some general reductions beside the modest seat rate cut.
Fall River Mass October 16 weekly sales in the print cloth market are estimated at 23 000 pieces with steady demand for all shapes of goods. Although total volume sold is not as large as last week, purchaser interest pleased mills and allowed them to drop curtailment. Current selling prices show limited inducement for mills with varied rates listed for different widths and finishes.
Ivan's Review notes moderate improvement in rent trade nationwide with confidence for the future. Retail sales rise in the Northwest due to cold weather while other areas see irregular activity but overall strong stock movements. Industry shows slight activity gains with idle mills reopening and textile output up. rail and freight movements remain robust though affected by weather and election forces. Export wheat and cotton remain heavy while winter wheat sowing lags with reduced acreage. Overall, activity is steadier and expectations point to expansion after the new year.
Stocks opened slightly below previous close then rallied led by Union Pacific Northern Pacific and St Paul with gains in Mackay Butterick and Westinghouse. Bond sales centered on Union Pacific 4s while time money held at 2 percent. Currency movement was quiet as banks report mixed cash changes and rising deposits since July.
Money on call opened at 1 percent, high 2 percent, last loan 14 percent, closing 14 percent. Time money steady with moderate business. rates for sixty to ninety days at 2 1/4 to 3 percent. four to six months 4 1/4 to 4 1/2 percent. Foreign exchange opened firm, cables 4.5680, demand sterling around 4.8650, sixty day bills 4.85. Bank clearings show New York 293,420,49. Chicago 42,8 538. Boston and Philadelphia robust. Silver and gold prices quoted. Mexican exchange at 2.01 percent. customs receipts 673,402 and internal revenue 915,588 for the day.
Receipts for the month to date total 25 954 082 dollars with expenditures at 29 969 000 dollars creating an excess of 4 015 918. For the fiscal year to date receipts are 171 788 025 dollars and expenditures 209 106 479 dollars, excess 37 368 454. Sub Treasury shows the Clearing House debtor 1 069 696 dollars.
Total bond sales reached 4,987,500 dollars. The report lists numerous bond issues with varied yields and maturities, including government, corporate, and municipal securities. Participants include major underwriters and financial institutions, reflecting broad market activity across sectors.
London noon trading shows a steady market for American securities with varying gains and losses. Notable prices include Atchison, Canadian Pacific, Reading, and United States Steel, while foreign money markets cite call money rates in London and discount rates in Berlin and Paris exchange data.
Last actual sales and closing quotations show no transactions yesterday on the New York Stock Exchange for listed issues. The report lists bid and asked prices for numerous issues across energy, steel, rail, and utility sectors with last sale figures and preferred stock lines, highlighting widespread inactivity.
Transactions for account totaled about 3.0 shares with Union Pacific and Chicago & Northwestern prominent. American stocks in London weak, general market inactive then firmer. Dividends declared by New Central Coas 2 percent, Electrical Securities 2 percent, Montreal Street Railway 2 percent. Money movements show bank cash drop of 126,600 with interior gains and small net loss since September. Baltimore & Ohio earnings for Sept show declines vs 1897 and 1907, with three months results also down. Pig lead price cut to 42i cents. copper outlook improves on rising demand and exports. New Cotton Exchange members elected Ralph H Hubbard, Malcolm T Maine Jr, Paul Hemelryk. City revenue bonds sold. grain exports for week reported by Bradstreets. Crex Carpet Company admitted to quotation.
Imports and marketings of dry seeds this week with comparisons show total imports at 2 883 152 dollars and 2 792 595 dollars, while total marketings are noted in the report with figures missing or garbled for completion. The data highlights the activity level in dry goods trade and market movements for the period.
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