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Newspaper
Cincinnati Commercial Tribune
Location
Cincinnati, Ohio, United States of America
Date
Jun 19, 1902
Page
10
Chicago markets witnessed a dramatic scramble in July corn with big players cornering shorts. Prices surged then plunged as manipulators pressed the market, while wheat and oats moved with mixed confidence amid reports of poor weather and large private elevator contracts.
New York reported mixed action with flour receipts and exports listed as steady and active. Wheat supplies show varied futures with No 2 red prices and distant cargos, while initial firmer tone gave way to heaviness on broad unloading and weaker late overseas cues.
W G Fagin of C J Buddeke & Co cites Government June data showing an 11 percent drop in winter and spring sown areas to 44 247 000 acres and a general 7 percent drop in condition to about 83.23 percent. He projects a U S yield near 600 million bushels, down from 748 million last year, and notes shrinking visible wheat supplies with July prices up.
Promoters urge readers to gather nine friends to contribute their brains and submit estimates to win one of 1,490 prizes totaling 34 000 dollars. The pitch promises a collective boost from many minds and repeated entries to increase odds.
Receipts and shipments for twenty four hours show cattle and hog activity with dull cattle trade and lower prices. Cattle prices vary by class with scarce good fat cattle and weak light stockers. hog market opened active but eased toward close with most packing hogs near 7.19 to 7.20 per cwt and light shipping hogs selling higher.
An old style plea invites readers to subscribe to the Commercial Tribune by sending an estimate to ease minds and avoid continued worry. The brief urges immediate action and promotes subscription as a mental relief.
Mixed trading on June 18 sees Texas rain prospects limited and drought damage not yet confirmable. July and August futures fall sharply from earlier highs while new crop activity remains firm. rains in Tennessee and Arkansas offer slight relief as markets await broader rainfall.
On June 18 London liquidity improved as Bank of England indebtedness fell and gold inflows rose. Stock Exchange activity slowed ahead of coronation settlements, Consols strengthened, Illinois Central quoted 160a162, and commodities in Berlin Paris wavered. De Beers gained on favorable colonial policy notes while Transvaal and Kaffirs showed mixed tone.
New York money on call steady at 2 to 3 percent with bankers bills at 4 7/8 to 4 7/8 percent. Sterling steady. sixty-day bills 4 85 to 4 85 1/2. Government bonds steady. rail bonds irregular. Boston closing: call loans 3 to 4 percent. time loans 8 1/2 to 9 percent. Notable quotes include American Telephone 177 and United States Steel at 88 as market notes.
Investors are invited to put 1.00 into the Commercial Tribune estimating contest with a prize pool of 34,000 dollars. Participants receive 1,490 chances to win and compete for the top award as details unfold.
Special Despatch to Commercial Tribune lists butter prices including Elgin prints 24 24 1 4 t gc, Ohio and Pennsylvania at 2l a2i percent, and various dairy items. Also records eggs at 17 to 18 1 8 cents and poultry prices for live hens and turkeys. Louisville figures show butter bricks 24 3 4 cent and eggs at 13 4 cents with hens 10 cents and ducks 7 cents.
A promotional note advertises a drawing with 1490 chances to win a prize and an estimated value of 34000 dollars.
In Colorado Springs on June 18 prices show tin copper and lead shifts with London and New York quotes. Tin fell with a 127 pound spot price and copper futures sliding. London iron and lead steady with various North American price ranges. Boston Boston copper stocks and miscellaneous mining shares list diverse prices and standings.
Boston reports firmer butter with large receipts of 968,585 lbs over two days and varied asking prices from 22% to 28 cents. Cheese holds, with Northern twins trading around 10 to 10 1/4 cents, eggs steady to firm. New York and Philadelphia show mixed firmness in butter and cheese with regional variations.
Break offers totaled 534 hhds with strong demand and few rejections. Today’s offerings expected around 400 hhds. Sales split across Globe House Farmers and Shippers' House Bodmann Morris and Cincinnati-Me Miami with numerous lots priced from 4 to 22.75 per hundred, including all new and old stock.
The Newspaper Circulation Managers Association will convene in Boston next year after Boston beat Indianapolis Louisville Cincinnati and Milwaukee for the site. Officers elected include President H J F Berkeley of the Cincinnati Commercial Tribune First Vice President Thomas Dowhey of the Houston Globe Second Vice President F G Hay of the Indianapolis News Secretary Treasurer J L Boeshans of Columbus and other directors W H Gillespie Detroit RS Grable St Louis Star F L Meccrati Buffalo Times R Mundy Philadelphia Inquirer and W J Taylor Montreal Herald.
The following corporation papers were filed today in Columbus by the Secretary of State. The Bond and Finance Company Elyria capital stock 190000 lists Acie Art Stone and Manufacturing Cleveland capital stock 25000. The Ceram City Social Club East Liverpool formed for education of children in Cleveland. The Canning Company increases capital stock from 50000 to 69000.
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