Market Liquidity Flows Drive Stocks To Year Low
New York May 25 The world markets digest reports drastic stock selloff pushing prices to fresh yearly lows. Despite interim recoveries aided by banking interests, heavy selling resumed as demand vanished at peak levels, closing unsettled near the day's low. Bonds weakened with stocks while broad selling orders sat to be worked off in early trading.
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New York
Room Shorts
United States
Money market summary from New York May 2
Money on ear steady at 2 1 2 to 3 percent with closing at 2 1 2 percent. Time money steady at 4 percent for 3 and 9 days and 6 months. Mercantile paper rated high with rates around 4 1 2 to 4 3 4 percent. Sterling exchange steady near 487.95 for demand and 484.95 for 60 days. Gold and government bonds steady while railroad bonds show weakness.
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New York
Prime Mercantile
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Metal Market Mixed Declines Signal Weak New York Close
May 25 reports a sharp break in London and New York metal markets. Copper fell in London to £62 28 64 spot and futures £81 110s, while London copper declined 5s. Lake electrolytic quoted at 4.73c in New York with London up 29 6d. Iron finished at 2 54 Glasgow and 4s Middlesboro, with local activity dull. Foundry grade prices listed for Northern and Southern furnaries. Warrants nominal.
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London
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Middlesboro
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Coffee futures market dips marginally in New York trade
In New York on May 235 the coffee futures market closed with a small decline of five points. Total sales reached 184,750 bags with May at 3.75 dollars and a series of Jan to Dec contracts priced between 3.75 and 4.65 dollars, reflecting slight demand shifts across positions.
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New York
Grain supply report shows declines in wheat oats rye barley
New York on May 2 23 the visible grain supply listed by the New York produce exchange shows Wheat 27 202 000 bushels down 462 000 pert 4 396 000 bushels down 146 000 bushels Oats 5 443 000 bushels down 135 000 Rye 1 152 000 bushels up 74 000 Barley 1 060 000 bushels down 66 000
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Treasury balances and commodity quotes from May 25 statement
The report lists cattle and hog prices with ranges for steers cows and calves, hog receipts and market levels, sheep values, and a background of company names and mines. It ends with a treasury balance update showing available cash and gold holdings.
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Miners Meet in Denver Open Annual Sessions
Denver May 25 The Western Federation of Miners and the American Labor union opened their annual sessions in Denver with about 200 delegates present and 86 proxies. Key issues include an eight hour day for all unions and a possible $100000 office building. Daniel McDonald of Butte is expected to be re elected president of the American Labor union, with F J Hughes of Spokane as the sole opponent.
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Chicago Markets Summary May Wheat and Related Grains
Armour sold May Wheat causing early weakness with July options slipping before shorts covered and bids rose led by St Louis buyers. July closed modestly up as confidence split late. Corn firm on good buys while oats steadied. Hog prices weak due to heavy receipts, with pork products lower as commissions pressured lard and ribs.
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Armour
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Sitgee
President Roosevelt Heads Eastward Through Washington Visit
President Roosevelt moved eastward today across the Cascade range and through the Yakima and Walla Walla valleys. He stopped at Ellensburg North Yakima Pasco Wallula Prosser and Walla Walla where crowds welcomed him and he spoke at Whitman College, a Marcus Whitman memorial. He dined at Senator Ankeny’s home and departed at 10 PM for Wallace Idaho to meet Senator Heyburn.
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Chaotic Commodity and Livestock Quotes With Markets Reported
Cash quotations list No 2 yellow corn oats and flaxseed prices plus Northwestern seed and prime timothy. Chicago cattle hog and sheep markets show receipts, price ranges for steers cows heifers calves and Texas fed steers with varied futures.
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Arket
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Emerson Centenary Dinner Highlights New Relics Exhibition
A Waldorf Astoria dinner honored Ralph Waldo Emerson on the 100th anniversary of his birth. The Society of American Authors showcased books portraits manuscripts and rare editions, with guests Edwin Markham Henry Watterson Chancellor Maccracken and President Schurman in attendance. A commemorative poem was read by Edwin Markham and Colonel Watterson spoke.
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Cattle Receipts Reported at Kansas City Market May 25
Kansas City livestock market notes 3,000 head received including Texans. Prices steady for native steers around 65 dollars. Texans and Indians contribute to overall receipts with demand moderate.
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