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Newspaper
The Indianapolis Journal
Location
Indianapolis, Indiana, United States of America
Date
Aug 29, 1901
Page
10
A M Fletcher Banker conducts general banking activities including receiving deposits subject to draft. He collects dividends and remits them. He acts as fiscal agent for corporations and negotiates security issues for railroads and other companies. He deals in government bonds and other investment securities and solicits accounts of banks bankers corporations and individuals.
Chicago August 23 corn led trade at the Board of Trade with an early advance fading into broad weakness. December corn fell fractionally, December wheat dropped around 4 cents, and oats slipped as profits took hold. Wheat opened weak due to Northwest receipts. later gains from corn and cash demand faded under selling pressure and liquidation dominated. Prices closed lower across grains with mixed near-term concerns and large mixed receipts noted for corn and wheat.
Wheat and corn futures softened as Northwest receipts rose while spot markets eased. No. 2 red wheat hovered around 7.5c to 8c f. o. b. afloat and at elevators, with September at 7 5/8c and December near 7 3/4c. Corn showed weakness then firmness on cables, closing with a net decline.
Trade notes from St Louis report flour quiet and steady with various grades listed. Prices for wheat corn oats and pork, lard, hay and cotton ties noted. shipments for flour and grains given. Baltimore futures show quiet wheat strength and mixed corn demand. overall market activity appears subdued with several items steady or mixed.
New York August 23 The stock market drifted into dull traders with under half a million shares changing hands. Bears faded after a brief opening raid as offerings were scarce and demand listless. Traders eyed a three day hiatus for possible developments while foreign markets softened and steel talks loomed.
Local quotations show trading in street-railway securities and belt lines in Indianapolis with prices for bonds and common shares. International money markets report New York call rates at 2 1 4 to 2 4/ or 2 13 16 percent and London cash at 14 1 4 percent discount rates for short and three month bills.
Washington reports Wednesday treasury balances in the general fund excluding the $150 million gold reserve in the division of redemption. Available cash balance stands at $176,824,699 and gold at $105,530,508.
New York Aug 28 The stock market opened steady then softened with a brief liquation period and a later gradual recovery. Traders sold on holiday factors and rate fears, banks suffered cash losses, and currency moved west while gold export prospects strengthened. Republic Steel showed a late rally amid insider liquidation fears.
New York trading closed with fractional gains after a day of irregularities. Heavy selling by room traders in I. P. and 8. P. was mostly covered. Atchison preferred fell after a large midday order, while common rose. R. B. C. and Smelters faced declines on weak fiscal half results and reduced trade, with analysts expecting little change before the long holiday and higher prices next week unlikely unless an unexpected event occurs.
Mrs Craigie in Anglo Saxon Review denounces current London theater for easy immorality and contrived happy endings. She laments lack of real passion and ironical sympathy, noting audiences’ comfort with unhappy fates as due to modern civilization’s shattered nerves. The piece calls for truer dramatic stakes and less sentimentalism.
Jack Arrons, of England, arrived Monday evening in Huntington to visit relatives and attend the Pan-American Exposition. He is the brother of Mrs. J. J. Cappels and had not seen her in 24 years. After a brief stay he heads to New York then the East before returning to England. This is his first ocean voyage and the ship he traveled on caught fire twice.
At Union Stockyards Indianapolis and across several hubs, cattle receipts reach about 1,100 with varied demand, steers drawing strong competition and higher prices while cows and canners stay lower. Hogs total around 4,000 with steady to higher bids, lambs and sheep show modest gains and broader market activity remains brisk across regions including Chicago Kansas City and St Louis.
London paper reports Pierpont Morgan facing high New York customs duties on imported art including a Gainsborough. Morgan seeks to install his collection in a New York temple of art, but duties and alleged theft history complicate the purchase. He plans a 36th Street site for a Garden Center building to house the collection.
A.J. commentary criticizes snobbish attitudes toward money in religion and society, noting that American wealth and boosters influence charitable giving. The piece questions class distinctions and the value of money in faith and public life.
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