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Newspaper
Cincinnati Commercial Tribune
Location
Cincinnati, Ohio, United States of America
Date
Jun 16, 1902
Page
9
Henry Clews notes stock sentiment tied to the coal strike and favorable crop prospects. Wheat may reach 640 million bushels, with corn and cotton also improving, supporting exports and easing money pressure as labor tensions ease.
A $34 000 estimating contest invites readers to invest $1.00 for a chance at a prize. Participants have 1 49 odds of winning a reward.
The iron market faces a coke shortage as coal strikes in West Virginia and Virginia disrupt supply to Southern Ohio furnaces. Banks may force Hanging Rock territory furnaces to bank, with Chicago plants also affected. Alabama and Tennessee keep steady operations while buyers await next moves and possible price hints for 198.
London report shows 284171 bales to date for the next series with 96000 bales warded direct. This week imports include 168 from New South Wales 4759 from Victoria 20883 from New Zealand 8802 from Cape of Good Hope and Natal and 843 from elsewhere.
Local creditors of the Ernst & Steinberg collecting agency, involved up to $9,000, plan a meeting today or tomorrow to press for a settlement with owners Otto Ernst and Herman Steinberg. A prior creditor meeting stalled, with potential request for a receiver and possible criminal action discussed but unlikely. Attorneys Kramer & Kramer represent the firm’s creditors. Jonas Frenkel and Frank Seinsheimer also have claims.
Frederic Emery quotes from Commercial Relations for 1901 showing Russia bought more agricultural machinery and American-made farm implements in 1901 than any prior year. Odessa purchased radiators for a new public hospital but tariff relief was refused. Americans lead in plows and other gear, while Siberia uses more plows. Russians favor U S products for price and access to officials.
Saturday morning cigar leaf sales totaled 82 cases with light offerings and stronger bidding on higher grades. Prices across imports including Connecticut Northern Ohio Zimmer Spanish Dutch seed leaf and old and new lots ranged from about 1.50 to 16.25 per case, with Farmers and Shippers and Cincinnati Miami House handling multiple lots.
Totals reached 2 621 birds with 1 274 new Burley and 928 new dark being offered. Old Burley and old dark were smaller in number. quality varied from good to poor. Prices rose for low grades and color styles remained scarce. rain limited planting and expectations for crop completion were lowered.
The Big Four and Pennsylvania launches of two new flying trains to New York depart in the afternoon under favorable conditions. The Big Four train averages eighteen hours and thirty minutes, the Pennsylvania train seventeen hours and fifteen minutes, each with a full load. Large crowds gather at both stations attracted by the promise of a time annihilating modern service.
Market report for Cincinnati dated Saturday June 14 1902 shows dull flour demand with unchanged quotations for a week receipts 31142 bbls shipments 21703 bbls. Wheat steady around 82c No 2 red winter and corn and oats mixed with slight gains in white varieties. Hay and mill feeds quoted, weekly receipts and shipments tabulated with coffee butter and produce prices.
Cattle trading closed the week on a weak note with bearish sentiment and light demand. Opening prices stayed steady for heavy and medium weight fat cattle, but Friday averaged 10 to 20 cents lower, with cows and heifers down 15 to 25 cents and overall sales 35 to 50 cents below last week. Stockers and feeders were scarce as most arrivals were fair to poor in quality and very few choice heavy beeves were offered.
The bulletin lists live cattle hogs and sheep trades across Pittsburgh New York Kansas City Chicago and other markets. It notes steady to higher hog prices on strong eastern demand and mixed movements for cattle with prime weights fetching 6.75 to 7.50 per hundredweight and sheep lamb prices broadly steady to soft amid rising receipts.
Newswire with multiple city reports on June 14 shows butter markets steady or strong in New York Chicago Philadelphia Baltimore St Louis and Kansas City with varied creamery dairy and imitation products. Cheese prices steady to easier and eggs mixed with regional variations across markets including Pittsburgh and other centers.
New York reports a quiet week with no price movements across domestics. Prints sell fairly, ginghams firm, print cloths dull yet steady, Egyptian and woolen yarns steady, American cotton yarns weak, and worsted yarns in fair demand. Linen jute yarns firm with moderate overall activity.
Oil City shows no bids or shipments with $1.20 balances. Turpentine and rosin prices steady in Charleston Savannah and Wilmington markets with varied rosin grades and crude turpentine firmings and tar firm.
The market edged lower amid mixed weather signals and crop reports. Prices closed quieter with July 8.75c and October 7.99c as traders awaited Sunday rain forecasts and the government crop outlook.
New Orleans market shows cotton sales at 1 260 bales with grades ordinary to good middling quoted from 7 c to 9 16c. Receipts are 1 728 bales and stock stands at 113 438 bales. Futures quiet with June near 9.02c bid and various months listed.
Foreign bourses reported extremely quiet trading with no encouraging features. Canadian Pacifics weakened on New York news while London money demand rose for 1,000,000 in London County bills and Block Exchange activity stayed dull amid poor weather.
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