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Newspaper
Philadelphia Times
Location
Philadelphia, Pennsylvania, United States of America
Date
Jun 05, 1901
Page
8
The Philadelphia stock exchange saw slightly lighter volume yet over 100000 shares trade. Readings nagalp rose to new highs while Readings common hit 24, first preferred 40% and second preferred 28 1 2. Coal stocks and steel issues drew heavy activity amid arbitrage trading and hopes of a unified policy for anthracite carriers.
The Bethlehem Steel annual meeting is set for June 20. The Sub-Treasury shows banks down 830000 since Friday. Rumors say New York Central controls Ontario and Western. Kidder Peabody lowers exchange rates. Erle hits a new high. stocks, Reading rise on bull pool. Arbuckle cuts sugar price. Lit Bros & Co lists 2,000,000 capital stock. Morean Lieber joins Philadelphia Stock Exchange. Chicago money loans at 3 4 percent. Chicago Terminal gains amid real estate boom talk. National Asphalt securities listed locally. American Beet Sugar directors defer quarterly dividend until next Tuesday. Wheeling and Lake Erie advances on Penn Railroad control talk. London prices dip. Union Pacific, Southern Pacific, Ontario and Western, US Steel hardest hit. International Silver Company considers retirement of preferred stock, subject to a vote.
The street eyed a 1% quarterly dividend on 7 percent cumulative preferred stock while chatter of coal export fees and a near-term dividend rise circulated. Chesapeake and Ohio rose on commission-house buying. General Electric spiked due to insider-leaning support, and Southern Pacific traded heavily with Kuhn, Loeb & Co. turning buyers. Banks reported easy Chicago money and broad broker activity, with time money easing and short maturities preferred.
Money on call at the Stock market rose yesterday at Caton Moet Ar. Rates hovered around 3 percent with the lowest noted for three days.
M Thomas and Sons, auctioneers at 118 South Fourth Street, present the last auction of bank stocks. Listings include American, National, and Consolidation titles with shares quoted in percentages and par values. Details appear fragmented but refer to multiple financial securities including Northern, Central, Philadelphia, and Western banks with varied bid figures.
The New York Stock Market opened strong but soon weakened with Sugar emphasized as a drag after rumors of its dividend change were denied. Ontario and Western rose on canal news, while Union Pacific and St. Paul fell. Late gains in Pennsylvania Southern Pacific and Erie stocks edged the market, but overall closing was irregular as earnings and railroad adjustments dominated trading. Bond market showed irregular moves. Total sales were $3,285,000 with United States refunding bonds up 4 percent on the last call.
In New York on June 4 the outside securities market was moderately active with broad participation. American Can led gains as common opened at 28% and rose to 28% with 7,000 shares traded. preferred fluctuated to 76% then 76.4. Denver and Southwestern and New York Transportation advanced, while bonds rose about 0.5%. Copper and Distilling shares stayed firm, with Seaboard and Tobacco figures trading and British Columbia bid at 17.
The Baltimore market shows continued forward movement with buoyant New York activity. Traders hesitate for solidity and possible profit taking, reducing sales volume while demand remains firm and Seaboard stays active amid an overall upbeat close.
The report lists yesterday’s high, low, and closing prices across equities, with shares traded and links to prior close figures. It features numerous named companies and bonds, including utilities and rail stocks, showing wide activity and varied closing levels across the market.
The market shows wide activity with issues from Chicago, St Louis, Texas and Pacific, and Consolidated Gas moving on dividend expectations. Bonds and stocks trade with varied prices, noting sizable volumes and totals around 6,000 shares and $224,600 in bonds.
Special to The Philadelphia Times reports closing quotations for unlisted securities including street railways. The data compares yesterday with Monday's prices, listing bid and ask levels for various lots and numbers as compiled by the New York Times.
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