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Newspaper
Cincinnati Commercial Tribune
Location
Cincinnati, Ohio, United States of America
Date
Jun 24, 1900
Page
4
Prices surged for July wheat and corn while cotton rose on South news, with futures advancing in early trading. Shares weakened as bank reserves dropped, and Northern Pacific saw heavy buying tied to Morgan interests amid widespread market volatility.
Special Despatch to Commercial Tribune from Chicago on June 23 describes a staggering wheat rally as July contracts moved sharply higher. Brokers counted vast profits while the market climbed to 88 cents a bushel, with a day’s range from 86 to 88 and hefty turnover across millions of bushels.
Wheat prices stayed near 86 cents, few moments below, as big operators led demand and public traders piled in. Reports from South Dakota and North Dakota warned of total crop failure and drought driven losses, while bucket shops in smaller towns buzzed with speculative talk and prices moved far from current quotes.
Cullom C. Chapman of New York filed for a receiver for the Marion Water Company. He argues the firm cannot raise funds for necessary extensions to maintain its franchise.
The Comptroller of the Currency revoked the reserve agent designation of Merchants' National Bank of Cincinnati for Merchants' National Bank of Ashland Kentucky. The action was announced in Washington on June 23.
The Schacht Manufacturing Company of Cincinnati was incorporated in Columbus by William Schacht G A Schacht John F Dietz Louis W Froehrick and Charles W Lig ner. Capital stock is 20000 and it will manufacture machine specialties. Other incorporations include Storrs Social Club in Cincinnati with several named incorporators and Urbana Baking Powder Company in Urbana with 10000 capital and Arion Club Company in Columbus with 600 capital.
The Grandids Bicycle Company discharged most of its 250 workers and plans to abandon the plant by August 1.
Rockford Illinois June 23 Work was resumed today at the local plant of the Glucose Sugar Refining Company after several weeks idleness. Two hundred fifty men are affected.
The Business Men's Club traveled 260 strong on the Big Four special from Grand Central, visiting Greensburg and Shelbyville before arriving in Cincinnati after stops in Indianapolis. Grand Marshal EB Shipley led a polished procession with Major Nelson J. Edwards and aides. Members wore bamboo canes and festival pendants, enjoyed greetings from Greensburg officials, and toured factories along the Belt Line in Indianapolis before continuing home.
The Cincinnati Business Men's Club of 225 members with a brass band arrived by special train in Shelbyville Indiana, was welcomed by local officials and citizens, and escorted through the business district. The event drew a large crowd as flags lined streets and the tour proceeded briefly before the train departed.
The ledger lists appropriations including Board of Supervisors 13 265, Treasurer 60, Recorder 62 440, Solicitor 2, and judiciary funds totaling 166 915. It notes incidentals, statutory earnings, and funds for libraries, bridge, sinking, infirmary, and elections, with explicit line items for Superior Court, Common Pleas, and Prosecuting Attorney.
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