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Newspaper
The Indianapolis Journal
Location
Indianapolis, Indiana, United States of America
Date
May 07, 1902
Page
10
Chicago grain prices ended higher amid a weather scare delaying Northwest spring seeding and smaller receipts. July wheat rose modestly, corn advanced, oats strengthened slightly while provisions weakened as traders awaited further signals from cash markets and European demand.
New York May 6 Special cables show overall declines in grain stocks since last report. Wheat in U S and Canada east of the Rockies and in Europe together fall 6 974 000 bushels with 2 400 000 abroad, corn down 94 000 oats down 588 000. Major decreases appear in Manitoba 2 000 000, Northwestern Interior elevators 300 000, Deport Harbor 169 000, Chicago private elevators 149 000, Port Huron 6 000, Nashville 5 000. Leading increases include 57 000 at Milwaukee private elevators and 8 000 at Coteau Landing.
In New York on May 6 the markets showed firmer demand and higher prices for select grades. Rye and corn stayed firm amid rain delays in the Northwest, with notable exports and steady spot values. wheat remained firm overall due to weather, rain, and strong outside markets, while oats, lard, tallow, cotton seed, coffee, and sugar also traded with varied firmness and steady to improved tones across different grades and futures.
Market notes show mixed prices across St Louis Baltimore Cincinnati and others with steady pork lard and dry goods. Receipts and shipments listed for flour wheat corn oats and potatoes with varying bids and regional contract prices and month futures.
Across Toledo Cincinnati Duluth Minneapolis and London reports show wheat and corn prices steady or dull with May and July futures. Wool markets in Boston and New York falter amid strikes. European wool auctions rise with gains in Merinos and fine crossbreds.
New York May 6 stock market shows strong recuperative power as fears from Webb-Meyer collapse fade. Heavy buying returns, money rate holds at 10 percent, and broad gains of 1 to 3 points mark opening and closing levels amid liquidation of inflated securities and rail earnings boosts.
Bank and trust entities such as American National Bank and Union Company along with Marion Trust Company appear in a listing referencing old and regular issue United States notes in denominations of four and five, indicating a financial or currency note cataloging from a historical segment.
Indianapolis reports commercial paper at 4 776 per cent time loans at 6 46 per cent. Clearing totals reach 1 822 300.94 with 288 444.57 balances. New York calls money at 6 10 per cent and banker bills exchange around 4 87%, 4 85% for sixty days. London money at 2 1/2 per cent, silver markets steady, parries of various currencies noted.
Washington Tuesday treasury balances in the general fund exclude the 159 million gold reserve. Available cash stands at 186,141,090 with 95,098,514 in unspecified assets. Market news from New York May 6 reports a strong open and firm close with limited selling pressure. Reading stock activity shows steady to strong gains aided by expected no strike. L N and Monon rise in tandem amid merger talk. London sells steel stocks as Chicago accounts drive gains. Industrials led by Sugar amid signals Cuban reciprocity bill unlikely this session. Money rates ease, with interbank lending at 5 to 6 percent during softer demand periods.
New York report shows maintained confidence with encouraging West weather news. Coal strike risk remains low even without miner concessions. Great Western and Wisconsin Central appear set for absorption by stronger lines, reflecting rail reshaping trends.
The Indiana Trust Company issues 189100 of treasury stock offering one new share for every four old shares. The new stock bids at 142, a 42 per four share dividend or 10 per share, totaling 422. Market value of new stock 268522. total stock value 1420000. Security Trust Company re-elects officers: A C Dailey president. O M Packard first vice president. George J Marott second vice president. Gavin L Payne secretary. William F Churchman treasurer. Herbert P Brown named assistant secretary.
John Hays Hammond, an American who served in Johannesburg during the Jameson raid, warns the British people to distrust extravagant assurances of American friendship. He warns Britain to be generous in terms of peace and avoid ruling a conquered country through carpetbaggers, noting his Southern origins.
Those tried for the murder of William Goebel plan a reunion once they secure leave of absence from their engagements with fate.
At Union Stock Yards Indianapolis cattle receipts are down sharply week over week and demand remains sluggish with limited outfits for higher live cattle prices. Hogs show small volume and mixed results with limited demand while sheep gains appear modest with clipping stock favored. Interstate yards in Indianapolis report duller trade, slight price upticks for some lots, and a general tone of cautious bidding.
An amiable Miss 5 from Milwaukee’s Northwest Side hosted a party. A couple excused themselves to play a private game of wink and caused the parlor floor to tremble as the corner sank about a foot. Guests fled and games paused, amid teasing and curious glances as the floor settled.
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