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Newspaper
The Indianapolis Journal
Location
Indianapolis, Indiana, United States of America
Date
Oct 28, 1902
Page
10
U S stock market opens dull with light trading and broad weakness among major issues. Rail labor troubles circling into Chicago weigh on sentiment as London offers little support and commercial paper rates slide to 5 1 4 percent.
Summary of daily money markets and exchange rates across cities including Indianapolis New York Chicago Boston Philadelphia St Louis Baltimore Cincinnati and London. Details cover commercial paper time loans clearings balances money rates and foreign exchange with noted prices and premiums.
John E. Redmond states funds raised for Parnell memorial were sent to the Parnell Monument Company in Dublin and invested in government stock. Expenditures limited to a bronze bust and Avondale library purchase. Monument contract and delays noted, with Saint Gaudens set to unveil soon.
A brief financial note reports that the New York Clearing House Banks show an increase in the National Banking Act figures. The headline notes a rise beyond the United States totals, indicating broader growth in banking activity.
Trading on the Board of Trade was quiet with December wheat up modestly, corn and oats down, and January provisions higher. Wheat supported by large Black Sea shipments and strong export demand. Duluth and New York exports reported. late-day profit taking steadied the close.
In New York on Oct 27 grain markets showed firmer receipts at 21.94 for flour and 38.24 for exports though activity cooled toward the close. Rye flour ranged 3.18 to 3.40 for fair to good grades, choice up to 3.55, buckwheat flour soft at 2.25 to 2.90, cornering the spot and arrival market. Corn meal dull with yellow Western at 1.30 and 1.28 for city, brandy wine around .40 to 3.56. Rye grain No 3 Western noted.
Regional price notes from St Louis to Kansas City show quiet moves in winter wheat, corn, oats, and oats, with mixed cash and futures quotes. Beef and pork cuts hold steady in Baltimore and Philadelphia markets while New York and other hubs record varied dairy, butter, and cheese activity amid steady to firm textures.
In key market notes from October 27, prices for butter remain firm in several cities while eggs ease in some regions. Turpentine and rosin show mixed firmness across firms, with crude turpentine and tar prices cited. Poultry values hold steady in major markets, and cotton and wool trade activity is noted with steady trends. overall market tone is cautious with selective firming in dairy and fuels.
At Union Stockyards Indianapolis on October 27 cattle receipts were light at 650 with about 500 head shipped to Ohio points. Steers near 1,100 pounds sold around 6.15, 1,000-pounders up to 4.75, cows 3.39 to 3.95, calves 4.25 to 7.25. Hogs receipts 2,000 with prices easing 5 to 10 cents from last week, trading 4.10 to 6.80. demand light but sales active, packers bidding freely. Sheep arrivals small with prices unsettled. overall market tones mixed but near steady for cattle with hogs lower.
An OCR fragment notes figures and company names including New Telephone Co and Traction Co with incomplete terms such as 18,000 and 16,00 in a damaged listing. The readable parts point to a telecommunication firm and a traction company reference amid truncated text.
Interstate stockyards in Indianapolis report weak cattle receipts with no shipments and a broad decline outlook for the coming week. Prices fall across fat stock and feeders, while hogs drop amid price breaks. Kansas City and Chicago show lower cattle values and mixed hogs. Sheep hold steady on prime stock but dip on others. various regional quotes reflect a broad market softening.
Everett of the Everett Moore syndicate resigns as president of the Pedi eral Telephone Company and Cuyahoga Telephone Company of Cleveland. Eric S Daan succeeds in both firms. federal control over many Ohio and U S long distance interests hints at major expansion. About $1,000,000 to be invested in developing the phone properties. Everett to remain a director. F Marion Crawford, novelist, aboard the steamship Lahn arriving in New York.
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