Quiet Week in Stocks Shows Narrow Gains Amid Uncertainty
New York May 4 The market drifted with little notable action aside from Canadian Pacific trading up to a record 18 and general conditions remaining steady. Investors awaited South Africa peace, coal strike outcomes, and railway absorption news while money markets eased and call loan rates slid under 4 percent. European capitals and US railroad earnings supported the tone though broad activity remained subdued.
MENTIONED IN THIS ARTICLE
New York
Canadian Pacific
South Africa
Chicago
Indianapolis
Louisville
Paris
Berlin
London
Chicago, Indianapolis & Louisville
Southern Railway
Louisville & Nashville
Ann Arbor
Pennsylvania
Western Union
Amalgamated Copper
United States
Monetary Rates and Exchange Across Cities
Commercial paper and time loan rates in Indianapolis. clearings and balances reported. New York call money nominal with various rates. sterling exchange steady with bankers bills and commercial rates. Financials from Chicago Boston Philadelphia St. Louis and other centers show mixed money markets. London and Paris exchange updates and precious metal pricing noted.
MENTIONED IN THIS ARTICLE
Indianapolis
New York
Prime Mercantile
Sterling Exchange
Chicago
New York Exchange
Wea
Boston
Philadelphia
ST. Louis
Sic
Baltimore
Cincinnati
Treasury balances reveal cash, gold reserve totals
Washington reports general fund figures excluding the $150 million gold reserve in redemption. Available cash balance amounts to 188,650,079 while gold reserve stands at 95,567,261.
MENTIONED IN THIS ARTICLE
Washington
Treasury
General Fund
Bank Statement Signals Mixed Fortunes for New York Banks
The weekly report shows decreases in loans and deposits, a rise in legal tenders and specie, and an uptick in reserves and surplus. Banks hold $14,301,450 above reserve requirements while reserves stand higher than a year ago, with a notable drop in loans and stock exchange activity contributing to the uneven picture.
MENTIONED IN THIS ARTICLE
New York
Associated Banks
New York Associated Banks
London
Stock Exchange
Canadian Pacific Rises amid Dull Market and Dividend Hopes
Private wire dispatch from Meyer and Kiser notes a strong but quiet market with little liquidation. Canadian Pacific sharply advances as buyers seek large blocks and rumors of higher dividends boost confidence. If Northwest crop yield is good, company finances may improve, benefiting stockholders.
MENTIONED IN THIS ARTICLE
Meyer & Kiser
New York
London
South Africa
Canadian Pacific
Indus Strong
Consideration in merger and lead handling patent sale
The article notes negotiations between the firm and a new lead company founded by Mr. Ryan, which reportedly bought a patent for lead handling that would cut working expenses. The bank statement is favorable, banks are comfortable with low interest rates, and if peace talks in South Africa succeed, London credit, and New York money markets would stay easy. A brief liquidation followed, with markets closing below day’s best prices.
MENTIONED IN THIS ARTICLE
Ryan
South Africa
London
New York
Grain markets rally after government report drives gains
Chicago May 4 grain prices swung after the government report on last year’s crop. July wheat closed a shade higher amid an initial bearish reaction, aided by strong export demand and firm cash interest. Corn and oats followed wheat, with provisions up as hogs and lard edged higher on packer support. receipts and exports remained solid, while outlooks for the new crop remained favorable despite the large revised acreage figures.
MENTIONED IN THIS ARTICLE
Chicago
Kansas
Department of Agriculture
Census Bureau
Minneapolis
Duluth
Seaboard
New York
New York Grain Markets End Mixed on May Session
In New York during May trading a sharp wheat decline followed by partial rally on covering and foreign buying. Wheat prices closed steady with a slight net decline after bearish crop data. corn and oats also eased early then steadied with the market.
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New York
Minnesota
Duluth
Manitoba
Pacific Coast
Galveston
California
Texas
City
India
Japan
Rio
Cordova
Trade in General Markets Mixed at St Louis and Liverpool
Market notes show wheat firm No 2 red with cash, May, July futures. corn higher cash and futures. rye steady. pork and lard higher. dry salt meats and bacon steady. hay dull. whisky steady. Receipts and shipments include flour, wheat, corn, and oats. Liverpool reports wheat steady and corn quiet. St Louis price ranges cited for many grains and livestock products.
MENTIONED IN THIS ARTICLE
Timothy
Yaa
Hiei
G. Lard
ST. Louis
Tle
eGstic
Liverpool
California
London
Pacific Coast
Cumberland
Toledo
Cincinnati
Euret
Duluth
Bard
Tee
Northern
Minneapolis
May
Milwaukee
Surtec
Market News From Across Cities Mixed Prices
Daily market wires report wheat and corn varied with steady to firm sugar and butter across Cincinnati Duluth Milwaukee New York and Philadelphia. Wool prices steady. petroleum and rosin steady. tea and yarns mixed. poultry quiet with modest prices in Cincinnati and New York.
MENTIONED IN THIS ARTICLE
New York
Ateady
Philadelphia
Hartlemore
Itimiore
Spirita
Savannah
Or City
Averane
Montpelier
Lima
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