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Newspaper
Cincinnati Commercial Tribune
Location
Cincinnati, Ohio, United States of America
Date
Mar 16, 1908
Page
14
A state auditor notice outlines a forfeited land sale involving the Cin'ti New Orleans and Texas Pacific Railway, the First Jerusalem Society, and the Foote & Lawler property holdings. It lists parcel fronts, dimensions, and assessed amounts at 4th and John streets, with W. D. Guilbert as Auditor of State.
In New York on March 15 the financial district reported rising confidence that conditions were mending. Factories resumed work, railcar idle totals declined, and copper prices rose as reopenings spread in iron and steel. Money rates fell and foreign buying of high grade securities appeared, with observers noting potential new bond and stock issues amid cautious speculation.
Market conditions for coal remain uncertain due to the prospect of a mine suspension after April 1 and unseasonable weather. Consumers have bought little in anticipation, while railroads and manufacturers adjust shipments. labor talks in Indianapolis add to the uncertainty as miners’ decisions could affect opening mines post April 1. Coal stocks stay substantial with limited production across regions, particularly in bituminous fields, as discussions continue.
Parts of the country have been spring like causing light domestic consumption and a dull, unsatisfactory week for the coal trade.
London reporters note little overall expansion at the Stock Exchange with gilt edges dulling as new copper flotations of about £12 million attract attention. Foreign markets soften amid Paris Morocco worries and Berlin trade shifts while the American market leads gains. Copper shares advance on better U.S. news and a potential Bank of England rate cut looms.
London supplies money larger and rates easier with weak discounts while stock exchange activity stays steady. American shares buoyed by Wall Street optimism as copper and rail stocks rise. parities in Paris and Berlin follow firmer bourses with higher American shares and firm discount rates.
Cincinnati market report shows Minneapolis wheat steady to firm with light receipts and strong demand for top grades. Corn and oats firm with good demand. rye light offerings. Flour, hay, and whisky prices listed with supply details. Grain inspections, receipts, shipments, and assorted groceries and securities also recorded.
Reports show heavy subscription pressures at Steel Corporation forcing a cut in preferred stock. Dun’s Review notes slow progress in commercial channels with minor weekly gains. Bradstreet cautions conservative buying. Western Union faces doubt over next quarter dividend due to treasury stock shortfall. January roads show a 26.91 percent net decrease, seven months at 19.82 percent. Banks lose about 2 million on currency moves. First week of March roads record a 12.46 percent gross decline. West reports stronger results than the East. twelve industrials rise 1.02 percent and railroad shares up 0.70 percent.
Continued activity in receipts and sales on the Hopkinsville market led to 98 hogsheads sold last week at satisfactory prices. The American Society of Equity moved 22 hogsheads and the Planters' Protective Association 76 hogsheads. Prices ranged from $6.50 to $12 for lugs and leaf, with most tobacco from Christian Muhlenburg Todd and Grayson Counties. Total season sales reach 323 hogsheads on the Planters' floor and 2,100 hogsheads received this year. Receipts remained heavy despite poor weather for loose tobacco.
Sales of cigar leaf tobacco reported Saturday by the Farmers and Shippers and the Globe Warehouses totaled 90 cases with prices from 2.20 to 18 per 100 pounds. Transactions include Spanish 38 cases with various prices, Dutch 27 cases across several bids, Seed 22 cases mostly 4.50 to 5.80, and Wisconsin 3 cases at 3.75 and 5.20 to 5.80.
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