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Newspaper
The Indianapolis Journal
Location
Indianapolis, Indiana, United States of America
Date
Dec 20, 1901
Page
10
Chicago reports dull trading in all grains with May wheat and corn closing a shade lower and oats down. Provisions mixed with May pork and other cuts finishing lower. Receipts and market tensions cited as factors, while other cities show similar softness in wheat, corn, and oats with varied cash quotes.
In New York on December 19 flour receipts reach 12,878 barrels with exports at 12,356 barrels. wheat receipts 31,35,000 bushels and 67,000 bushels exported. Spot prices show dull activity for No. 2 red and No. 1 northern Duluth, with options closing steady or easy amid varied local offerings and holiday light trade. Corn receipts 16,000 bushels with spot easy. oats and rye show modest movements. Lard and refined products ease slightly. sugar, molasses, and coffee markets mixed with slight gains in some grades.
Market notes from St Louis Baltimore Cincinnati and elsewhere report dull trading for general trade and steady to weak conditions on corn wheat rye and oats. Timothy seed and bran show limited movement while pork lard and dry salted meats trade steady. whiskey remains steady at the quoted level.
Market reports show firm butter and cheese prices across several cities, with steady to higher tones in Philadelphia and Chicago. Egg and poultry markets mixed, with active demand in New York and St Louis, while spirits of turpentine and rosin held firm in oil and chemical hubs.
New York’s first seven year shift to imported spuds shows Belgium imports aboard the Red Star line ship Southwark, 9 000 bushels. Rotterdam and Glasgow vessels follow, driven by price gaps and import costs including duties freight and profits.
Amalgamated Copper sparked extreme market volatility trading on December 19 in New York. The stock hit intraday lows near 63 3/4 and surged to 67 1/2 before closing down. speculation on a 14 percent dividend paid in scrip drove wild swings and unsettled the broader market.
Reports note fires on Citizens Street railway and Belt and Bait railway lines with common status. Observers cite 106 percent in Chicago Stocks. Mentions Granger Parnell and American Can, National Biscuit preferred, Diamond Match nominal, and 8s Wire.
Commercial paper and money rates across cities show mixed conditions with New York prime mercantile paper at 5.5 percent and sterling exchange weak. Treasury balances in Washington report available cash at 172,188,876 dollars and gold at 125,689,170 dollars, excluding the 150 million gold reserve.
New York December 19. Amalgamated Copper dominated the market with strength in early trading then a sharp drop after rumors of a 6 percent scrip dividend. Prices slid about six points amid thin support, while the money market stayed near six percent. Gould broker selling appeared in Missouri Pacific as traders shook out long positions.
The New York copper market saw a professional day with a 1 percent decline and a 4 percent rate after Amalgamated Sulphur’s erratic action. Rumors circulated that the dividend had been passed, leaving traders uncertain as the market suggests a temporary break from copper but remains cautious due to professional behavior.
Union Stockyards Indianapolis December 19 cattle receipts 850 shipments 200. Week’s cattle receipts show a drop versus last week and a rise versus a year ago. Demand is below average with local packers limiting purchases to immediate needs. Prices for best cattle held steady while others fell 10 to 2 cents, leaving many unsold. Hog receipts and shipments total 3500 with mixed demand. heavy hogs sold well but lighter stock lagged.
Interstate stockyards Indy Chicago and East region markets show weak cattle demand with lower quotes for most grades. Hogs steady to slight declines with light hogs down. sheep and lambs steady to strong. Kansas City and St Louis bids show mixed cattle and hog prices amid receipts at several markets.
Trains run from Union Block on W Maryland Street to Anderson Muncie Alexandria and Marion with stops only on request until 1 p.m. and at 7:20 and 10:30 a.m. plus 4:30 and 7 p.m. Fare per person not specified. A man long ill with an abscess in his head severed ties with a former fee and began divorce proceedings.
Instruments recorded in the Marion County recorder's office for the 24 hours ending 6 pm Dec 1 show transfers from James F. Boswell to Joseph B. Fare and numerous grantor grantee pairs in various blocks and streets, including Grandview, Hasemont, Blake's sub, and Crown Hill Cemetery lots, with total stated transfers and a $1,000 coal shed/warehouse permit noted.
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