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Newspaper
Cincinnati Commercial Tribune
Location
Cincinnati, Ohio, United States of America
Date
Oct 05, 1908
Page
8
Stocks held steady as traders awaited the national election and future prospects. Railroads cut operating costs sharply, drawing criticism over maintenance spending while freight rates face potential increases. Crop conditions show no damage as cooling temperatures reach the grain belt and cotton markets respond to lockout timing.
Hopkinsville KY dispatch notes the local tobacco market posts good weekly activity though totals lag behind last week. M D Boales cites quiet season with prices across lugs leaf and cigar fill ers wrappers and a crop 25 percent larger than last year. Planters Protective Association records 73 birds sold and weekly totals reach 1 192 hhds with annual 34 585 hhds.
Savannah reports turpentine steady at 35 percent with 433 barrels traded and 590 received. Rosin totals show 3,233 sold with 2,341 received and 445 shipped, stock at 128,121 barrels across grades A to N and related products. Charleston notes turpentine quiet at 35 cents and rosin varying by grade up to 5.30. Toledo lists oil prices for North Lima and South Lima. Wilmington records spirits turpentine at 34 percent with 27 casks received. rosin and tar prices noted with crude turpentine at 1.50 to 2.00. City reports credit balances and October shipments around 200,000 barrels.
London and St. Louis wool markets show varied demand. Merinos and fine grades held firm while low sorts slipped. Americans bought medium crossbreds, grease and scoured figures listed for New South Wales Queensland Victoria and South Africa with next week sales planned.
The article notes political jitters curb large commitments as the election outlook remains unsettled. It flags money market behavior, crop demand, and regional differences, with the East worst off and railroads delaying dividends. It forecasts improving activity after uncertainty fades and a trading market for short term profits.
Market notes from Cincinnati Chicago and St Louis show bank clearings ranging from 4.1 to 37.6 million with irregular New York exchange discounts. Trading activity remains dull ahead of the presidential year as traders hold off. bonds attract some local municipal interest while money rates stay around 4 to 5 percent.
A compact excerpt shows multiple bond quotes including Ky Lit Cent 4s at 4s and 5.10% mentions, Miami bonds around 5.10%, and various preferred stocks such as Ind St Ry 9 pref, Bullock pref, Fay & E com 100, Niles B pref, and Shillito Co 103 4. The page lists prices and yields for a range of railroad, utilities, and industrial issues including Do pref and Hoov-0-R pr. 105.
The demand for cigar leaf tobacco remains good with 65 cases sold Saturday at the Globe and Farmers and Shippers' Warehouses. Sales split between seed and Spanish, with prices ranging from 2 to 8.50 dollars and transactions noted across several lots.
Cotton prices eased modestly on Oct 3 as spot and futures varied across markets. New Orleans spot steady to slightly lower with sales 800 on spot and 1600 later. Liverpool and New York showed declines in futures with limited spot activity and weekly receipts quoted for comparison.
Receipts and shipments for the past week compare with two prior weeks. Cattle totals fall due to weak prices with declines in receipts. hog movement remains large with total 22 941 and prices mixed. sheep and lambs show stronger late week with higher values. Regional markets in Buffalo Pittsburgh Kansas City and Chicago report varied activity and price ranges.
The Cincinnati market notes October 3 1908 show light wheat receipts with No 2 red winter at 1.04 to 1.06 on track. Corn dull and weak with buyers’ views met. Oats firming near week end. rye quiet. flour steady with light demand. Hay receipts declined yet close stronger. whisky firm. Reported sales include corn 1 car yellow new 70c and various hay timothy and clover lots.
A dense price catalog lists apples, bananas, beets, carrots, cucumbers, cantaloupes, cabbage, lemons, oranges, onions, potatoes, peaches, pears, string beans, sugar corn, squash, tomatoes, watermelon and related groceries. It includes prices per barrel, box, crate, bunch, or per dozen, with regional labels and brand-like notes. The entry also covers oils, meats, butter, eggs, lard, beans, poultry, and miscellaneous farm products.
Cold spell clears air for coal trade with better demand in Chicago and other hubs. Northwest shortages loom if mines overproduce yet railways can overship, while steam coal remains distressed and coke demand stays lethargic.
Richard Brink of Grand Rapids, a prominent merchant, was killed when his car on a Grand Rapids to Holland trip overturned in a ditch after the steering gear broke on a hill near Vriesland. The rest of the party escaped injury.
Hundreds of delegates arrived in the city as hotels filled and more trailed in from across the country. The gathering includes a business session, officer elections, and social events at Hotel Linton, with tours, a grand ball, and a classical entertainment at the Scottish Rite Cathedral.
Crowds attend the Ninth Street Baptist Church rally led by Rev. John S. Herget to boost Sunday school work. More than eighteen hundred children attend the church Sunday schools as the weeklong rally continues with services at Stations B E A D F Harwood Chapel and Myers Chapel dedication of the rebuilt station at 4 p.m. next Sunday.
Mike Cassidy of the Newport Fire Department narrowly escaped a fatal burn while fighting a blaze at the dump at German street head. Cassidy fell into the fire and was rescued by Fireman John Murphy who jumped in. Both men suffered burns to their hands but escaped more serious injury.
Gas line rupture at Pittsburg Plate Glass Works No 2 in Tarentum suburbs triggers massive fire. Loss estimated at 500000 dollars with 300 men affected as half the plant is left in ruins. The blast followed a burst joint in the main gas line due to high pressure.
The Manchester cloth market for the past week saw Chinese agents placing sizable shirting contracts and South American buyers securing various cloths. Lockout stalled new deals elsewhere as buyers awaited developments while manufacturers maintained current price levels and yarns stayed firm despite quiet demand.
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