Stocks Unsettled at Close in 1907 Market Quiet
Unlisted shares drifted as the day ended with unsettled totals for 1907. Four shares moved for the period in 197, reflecting limited activity and uncertain early gains.
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Newspaper
New York Tribune
Location
New York, New York, United States of America
Date
Oct 17, 1908
Page
4
Unlisted shares drifted as the day ended with unsettled totals for 1907. Four shares moved for the period in 197, reflecting limited activity and uncertain early gains.
Little interest was shown in outside securities with trading nearly at a standstill except for mining stocks that moved on inside account. Price changes were mostly fractional with a steady tone. Nipissing showed strength on higher turnover. Specialties firm, Havana Tobacco rose, Standard Oil robust. Bonds dull and unchanged.
The Mines Company of America announces a regular monthly dividend of two percent payable on October 26, 1908 to stockholders of record on October 17, 1908. Secretary Tooker signs the notice from 111 Broadway, New York.
W T Van Brunt resigns from nearly all companies he led or sat on boards for Harriman interests including Furnaceville Iron Augusta Aiken Railway and Electric Hearne Brazos Valley Railroad New Orleans Warehouse North Augusta Electric and Improvement St Joseph Grand Island Railroad Sinnemahoning Iron and Coal and Spiral Bearing and Supply Wells Fargo He is replaced on Furnaceville by W V S Thorne and on Wells Fargo by Stuart R Knott Ex Judge R S Lovett may become director at St Joseph Grand Island Van Brunt remains president of North Butte Extension Copper Mining Company which is about to reorganize with new entity formation and he and all old officers will retire. his current North Butte holdings are not large.
The United States Finishing Company reports for the year ended June 30 with receipts from sales of 4,467,725 and cost of production at 3,234,285 leaving net profits of 1,233,440. After deducting maintenance and general expenses 1,269,548 and fixed charges plus preferred stock dividends 361.00, a surplus of 77,401 was set aside for depreciation. The profit and loss surplus as of June 20 remained uncharged at 20,000.
Chicago reports a new nationwide Pullman schedule cutting seat rates in all parlor cars. The book replaces four regional rate sheets and is described by General Manager Richmond Dean as a readjustment with some general reductions and a more convenient ready service.
Fall River Massachusetts reports weekly print cloth sales around 20,000 pieces with steady demand for all styles. Although total volume trails last week, purchaser interest pleased manufacturers and allowed some mills to end curtailment plans. Current selling prices show limited mill incentive with 28 inch 64 by 64 at 3c and other sizes quoted accordingly.
Moderate improvement in trade reports across the country with strong confidence for the future. Retail sales of seasonal goods rise in the Northwest despite cold weather. stocks remain ample. Steel contracts delayed post election but old orders active. textile mills resume production. Railways show small declines vs 1907, with freight car surpluses shrinking. Exports of farm staples rise in September, but weekly port values dip. imports fall. Bank exchanges down, while overall trade expectations brighten as year turns.
Stocks fluctuated after a weak London start, led by Union Pacific and St Paul with gains in Mackay Companies Butterick and Westinghouse. Bonds saw UP 4s rise to a high, while foreign exchange lacked momentum. Bank condition abstracts show loans up 135 million since July and deposits well above last year.
Money on call opened at 1 percent with a high of 2 percent and a last loan of 1 percent, closing at 1 percent. Time money stayed firm with modest business. rates for sixty to ninety days around 4 percent, and for other terms 3 to 4 percent. Domestic and mercantile paper held steady as demand for high grade names persisted. Foreign exchange opened firmer with cables around 4.5680 dollars per pound and demand sterling near 4.8650, short francs and reichsmarks quoted with adjustments. bank rates posted for sixty days. Bank clearings for New York, Chicago, Boston, Philadelphia, and other centers are listed, along with silver and gold premiums. Mexican exchange and government receipts shown, with total receipts for the day at 1,607,552 and expenditures recorded.
Receipts for the month to date total 25,954,082 with expenditures 29,969,000, an excess of 3,005,918. Year to date receipts 171,798,023 in expenditures 209,106,479, excess 37,368,454. Sub Treasurys debt to the Clearing House stands at 1,069,696.
The page lists numerous bond issues with values, yields, and maturities. Totals show total bond sales at 4,987,500 dollars across United States and international issues, including government and corporate securities, various coupons, and nested debentures.
London and New York markets closed steady with final prices showing mixed gains and losses across key issues. Notable entries include Anaconda 44% to 44% and New York Central 108% to 105% with various refinements in rail and steel stocks amid foreign money market rates and exchange figures.
Last closing prices and bids on stocks with no transactions yesterday on the NYSE are listed. The table shows closing figures for Adams Ex to Unlisted, including pref and common shares, with bid and asked ranges and special notes on some issues.
A compact market summary notes foreign trading activity with Union Pacific and Chicago and Northwestern leading purchases, American stocks in London closing below parity, and a generally inactive but firming mood by day’s end. Dividends declared include New Central Coal and Electrical Securities Company, with Montreal Street Railway providing a quarterly yield. Money movements show a weekly bank cash loss of 126,600 while interior cash flows offset some, and Sub-Treasury transfers affected gold and currency shipments. Baltimore and Ohio September earnings show declines in gross and net earnings versus 1997, with three months comparisons also down. Pig lead prices see another 19-point cut, copper outlook improves on stronger domestic demand and European imports, and several copper shipments hint at no large US stock buildup. New Cotton Exchange members are named, city revenue bonds are being sold to fund maturing issues, and grain exports for the week are tallied with weekly and yearly comparisons.
Imports and marketings of dry goods this week show total imports of 286,152 dollars and 2,732,885 dollars last year. Total marketings amount to 2,670,270 dollars. Comparisons to last week and last year are noted in the period’s figures.
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