Market Report Shows Bearish Tone on Grangers and Rails
A London market summary notes broad weakness in granger stocks and rail shares as earnings disappointments and caution among operators weigh on sentiment. Reports cite potential political shifts in currency policy, shrinking traffic, and heavy bond concerns. Sugar and copper trade show firm spots amid volatile freight and dividend news.
MENTIONED IN THIS ARTICLE
London
Paul
Rock Island
Janda
Cammack
Pennsylania Railroad Company
New England Trust Company
Trusee
Chicago, Buron & Quincy
Denver
Atchison
Chicago Junction Railway and Stock Yards
Swift Company
Zaro
Jersey Central
New York
Jersey
G. H. Staynes
American Agar Refining Company
American Sugarefining Company
Arket
Ship News Miniature Almanac
Sun rises at 7 14 a m sets at 4 25 p m length of day 9 hours 11 minutes Moon morn High water 4 45 a m 6 00 p m Arrived Steamer Appmatox London Deg 21 with merchandise to Furness Steamer Halifax Pye Halifax N with merchandise and passengers to ae Barn Steamer Boston Stanwood Yar mouth N S with merchandise and passengers to John G Co Steamer Spartan Philadelphia with merchandise and passengers to B ampson Fyeamnes Lebanon Hand Philadelphia barge sailing from do Steamer Tremont Craig Portland soucester City of Gloucester Proctor Tue ee cen alan eS
MENTIONED IN THIS ARTICLE
Appmatox
Holland
London
Furness
Halifax
Pye
Ae & Barn
Boston
Stanwood
Yarmouth
N. S
John G. Co
Spartan
Eaareal
Philadelphia
Bampson
Fyeamnes
Lebanon
Hand
Siab
Merchants Banquet Debates Elastic Currency System
A speaker argues for an elastic currency and rejects strict reserve bonds, citing Canada and Ohio as models. He defends the safety fund, notes the flaws in a national bank act, and urges equal rights for state banks to issue notes under uniform rules. He warns against a monopoly and calls for universal bank issuance rights to reform currency.
MENTIONED IN THIS ARTICLE
State Bank of Ohio
Central Board of Control
Ohio
United States
New York
Dominion of Canada
Confederation
Canada
National Bank
Upan
Treasury
Catchings on Banks Safety and Paper Money Policy
Congressman Catchings argues trusted banks with large deposits face no danger from current notes circulation. He blames Supreme Court on legal tender status for financial instability, asserting many problems arise from that constitutional decision. He urges a clear policy to abolish poverty and bring prosperity.
MENTIONED IN THIS ARTICLE
Catchings
Supreme Court
Dodsworth on State Banks and Government Paper Currency
Dodsworth argues that state banks should be protected from discrimination while warning that government legal tender paper risks national bankruptcy. He calls for a bank note system backed by assets and federal oversight, quantifying circulation limits and noting the need to replace Treasury notes with safer currency backed by gold and assets.
MENTIONED IN THIS ARTICLE
United States
Secretary of the Treasury
Treasury
Tate
W. Dodsworth
New York Commercial’ ‘Advertiser
Dodsworth
Carlisle
American Association of Bankers
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