Local Wholesale Trade Holds Steady Prices
Local wholesale trade shows good volume with prices steady amid recent grain receipt activity. Market observers note stable levels as buyers and sellers maintain firm bids and clears.
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Newspaper
The Indianapolis Journal
Location
Indianapolis, Indiana, United States of America
Date
Jun 10, 1903
Page
3
Local wholesale trade shows good volume with prices steady amid recent grain receipt activity. Market observers note stable levels as buyers and sellers maintain firm bids and clears.
Wheat and corn hold firm with No 2 red at 7c milling freight and No 1 white corn at 48c. Oats steady at 38 4c, hay weaker with No 1 timothy at 15.60. Inspections list multiple cars by grade, including No 2 red wheat and No 2 white corn. Wagon market reports several loads with prices for oats, mixed clover, and straw per ton.
A dense OCR list details prices paid by shippers across poultry categories hens, turkeys, ducks and geese, plus hogs, hides, tallow, candles, groceries, dry goods, coffee, sugars, spices, rice, coal, oils, and common farm produce. It also includes a stock market report showing intraday volatility, notable rallies and subsequent declines led by St. Paul and Pennsylvania with wide declines in rail and steel issues.
Indianapolis notes show commercial paper 4.6 percent and time loans 5.476 percent with clearings at 1,259,839.75 and balances 171.70. New York call money steady at 2 percent, time money firm at various terms. Sterling and mercantile rates, Paris and Berlin finance updates, London silver prices, and Treasury balance reads 107,907,241 available cash in general fund minus gold reserve.
New York June 9 London opened weak and the morning session saw declines across most stocks. St Paul rallied to lead the market and, with Pennsylvania, signaled strong Standard Oil support. B&O briefly advanced on short covering then fell to new lows as the day ended with heavy selling and thin news. Canadian Pacific rose on shorts covering before likely pool buying. Late trading showed renewed liquidation in inactive and leading issues as the day closed at day’s lows.
The Indianapolis Stock Exchange saw spirited bidding with Union Traction securities fueling activity. Common stock moved at 6 and preferred at 86, while bonds stayed quiet. a broad list of firms and bonds traded, including New Telephone and Indianapolis Water, amid a general market uptick.
In Pittsburg the Federation of American Zionists session elected officers and committees. President is Dr Richard Gottheil of New York, vice presidents include G Mayer of Philadelphia and Zolotkoff of Chicago, secretary Jacob D Haas of New York, treasurer E W Lewin-Epstein of New York, and international action committee members chosen.
Chicago July wheat ends at 75 4, corn up to 48 1/2, oats up 4, hogs steady with a 9 cent gain. Weather optimism and government crop outlook boost buying pressure late, while receipts and futures drift with bullish weekly reports. Strong activity in wheat, corn, oats and pork futures rounds out a firmer day across grain and provision pits.
Trade excerpts show wheat and flour prices firm with assorted futures and cash bids. Beef, pork, and lard values move modestly while hay and whisky hold steady. regional quotes reference St Louis Cincinnati and Minneapolis markets with assorted contracts and track prices.
Reports from Kansas City Milwaukee Toledo and other cities show wheat corn and seed prices. butter eggs cheese and dairy receipts steady to firm. cotton markets in New Orleans quiet with middling rates. wool and linseed prices noted in Boston and New York briefs.
The live stock market shows higher bids for best steers by ten to fifteen cents and hogs up five to ten cents with sheep steady. Cattle receipts total about 1,000, up 300 from last week and down 100 from a year ago, with strong demand and generally higher prices than last week's close.
Market reports from Indianapolis Chicago New York and Omaha show cattle and hog prices steady with minor changes. Cattle receipts small at Interstate yards and at other markets. best stock and calves hold firm while fat cattle and feeding types vary. Hogs and sheep show steady demand with prime lambs strong but overall activity limited due to outlet conditions.
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