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Newspaper
Washington Post
Location
Washington, Washington Dc, United States of America
Date
Apr 10, 1908
Page
9
The Erie Railroad avoided bankruptcy pressures and sparked gains in Missouri Pacific Southern Railway and Interborough Metropolian shares. Broader activity saw Brooklyn Rapid Transit helped by anti racing bill defeat, with rail and steel issues advancing amid cautious optimism and Harriman’s financing actions.
Money on call easy with 14 percent rate bid 24 percent offered at 1 percent. Time loans dull. Sixty days 2 to 4 percent, six months 3y4 percent. Prime mercantile paper at 4 percent. Sterling exchange with actual business in letters bills at 680 and 585 for demand and sixty day bills. Government and railroad bonds steady.
London tin rose with spot £144 10s and futures £143 while copper slipped in England though steady locally. Lead held at £13 17s 6d in London with minor local firming in electrolytic and spelter. Iran markets posted gains in England, while U.S. prices showed mixed issuance and oil shipments reported for Toledo and Lima regions.
The Washington Biz notes premium quotes on Tile Aiken inotes and strong securing of new notes. Erie stock activity hints at record high premiums amid smooth Erie settlement aiding Union Pacific and Illinois Central plans. Harriman and Vanderbilt stakes in Erie cited, with U P stock hitting new highs and a big potential bond issue. Third Avenue and Interborough Metropolitan gains cited, driven by reduced transfer privileges and racing-bill outcomes.
LOGAL FINANCIAL notes activity in utility and railroad shares with readings on Metropolitan, Capital Traction, Gases and the Certificate BB. Tractions held firm while Rail Way common rose modestly and bids for gas securities showed some demand. National Savings and Trust rose to 193, National City Bank moved to 135 with limited other banking activity.
Wholesale prices listed for eggs butter cheese and meats with notes on supply and demand. Poultry prices show hens, chickens, ducks, geese, and turkeys. dressed meats include country cured hams and calves. vegetables and fruits cover potatoes, yams apples oranges grapefruits cranberries and more with varied per unit and per container pricing.
New York April issue lists price steadiness across staples like rye flour cornmeal leather wool and coffee while noting bonds, oils, and sugars. Wheat receipts reach 15,000 bushels with bearish crop news driving new low marks. corn and oats follow weaker trends amid dull activity.
Chicago grain market highlights a strong decline in May wheat and general weakness as favorable crop prospects in the Southwest dampen demand. Corn and oats show mixed moves with intermittent strength from cash demand, while provisions remain steady to weak.
After posting new season highs, New York cotton fell early on liquidation but recovered to close near the best with a net 2.8 point decline. Sales estimated 300000 bales. May and July contracts moved from weakness to firmer demand as Wall Street buying emerged and rumors of distress in Mississippi and wider banking troubles influenced activity. Southern markets showed mixed spot signals as funds debated concessions.
Bulls and calves show mixed demand as receipts rise. In New York the market steadies for cattle and sheep with lambs very slow and weak. Chicago notes about 5,000 cattle and 19,000 hogs with prices mainly steady to firm, heavy hogs strong, and sheep slow with varied bids.
Cattle prices quoted per cwt and per ewt with ranges for butcher ordinary and various weights. Hogs listed per cwt and per ewt, sheep and lambs with quality grades and prices, calves by grade per pound, cows priced prime and common per head.
Baltimore market notes April 9 report dull receipts for flour corn oats rye and hay with prices largely unchanged. Butter eggs and cheese hold firm while grain freights quiet. Steel and other items show mixed bids and small adjustments across spot and contract quotes.
News from Norfolk Virginia reports Standard Oil and Rockefeller interests have joined with Norfolk and Southern Railway owning over 200 miles of eastern North Carolina lumber districts. Bond interest due in May will be paid and no receivership will occur. The plan includes building the world’s longest railroad bridge over Albemarle Sound and continuing development of the line.
Speiden and Speiden architects prepared plans for two dwellings in West Woodridge. D C Cloyes Fletcher will erect a two story brick foundation frame home on Twenty fourth street with a rambling front pitched roof and four supporting columns. Julius KH Durand will build a six room frame dwelling with a tower bay window and hot water heat. Boss and Phelps sold 326 Eleveth Street Northeast to Luther W Miller for Thomas W Gleason, who will occupy it. Stone and Fairfax sold a two story brick dwelling at 928 French Street Northwest for W H Deshields, with seven rooms and both baths, to a purchaser who will occupy it. They also sold a two story six room colonial at 2316 Ontario Road Northwest to Michael J Keane for a purchaser who will occupy it.
New York April 9 Judge Holt in the United States Circuit Court dismissed the Pennsylvania Sugar Refining Company suit seeking 30 million dollars from the American Sugar Refining Company for alleged Sherman act conspiracy. The judge held no remedy under the act but allowed legal redress for minority stockholders, noting the American firm may have destroyed the Pennsylvania company to serve broader interests. Frank K. Hipple of Philadelphia, once steering the Pennsylvania firm, had died by his own hand after ventures failed.
At the annual Lanston Monotype Company meeting in Alexandria Virginia a large majority of stockholders attended with forty present. Reports from the president and treasurer noted assets had been used to pay obligations from plant establishment. 187000 remained unpaid. Last year’s activity matched 1906 with no new Government Printing Office contracts, and 140000 of unfilled contracts stood at the start of the new fiscal year. No dividend was discussed or expected this month.
New York April 9. Wall Street reports Harriman will gain absolute control of the Erie road after providing 5.5 million dollars for maturing notes and plans to spend 30 to 40 million dollars on improvements. He will take 5 million of the new notes to cover immediate company needs and push a transcontinental network with Erie as the eastern outlet.
St Louis April 9 Olive Street Bank at Garrison and Olive with capital of 1000000 and deposits of 3500000 was closed today. R M Cook state bank examiner in charge cites bad loans. Officers include Pinckney French president Jesse French vice president FE T French cashier.
An advertiser touts Hood's Sarsa parna as a remedy for spring loss of appetite. It claims to strengthen the stomach, perfect digestion, and make eating a pleasure, with thousands using it and calling it the best remedy available.
New York April 9 F H Gary chairman of United States Steel Corp states no steel price reductions are contemplated. He says demand and supply conditions do not justify changes and urges orderly consideration if any price questions arise, noting manufacturers and buyers seek price stability.
In a Buffalo based divorce case, Henry J. Fierce testifies his wife threatened to kill their seven children unless he abandoned control of their education and training. He describes himself as president of several Buffalo street railway firms and the Netherlands Tramway Company. Since separation he has provided his wife with $1,250 monthly. She remains in St. Louis with the seven children and two maids, while he is in court.
A passenger identified as Mr. Rice fell asleep in a Pullman coach near Cincinnati on a weekend stop. He woke to find himself in sixty feet of water and swam to shore, then returned to his car unharmed and in good spirits about the mishap.
Rev Dr George H Brooks pastor of First Spiritual Church in Pittsburg was found guilty in Criminal Court of fortune telling. Women testified he charged $1 to reveal past present and future. Catherine Hughes 19 testified Brooks urged her to leave home and earn a living by personal magnetism.
Danville Indiana April 9 wedding of Miss Ruby Jewell and John Wallace at Talbot. Bride and groom the parents of the bride Mr and Mrs Frank Jewell and a dozen guests were poisoned by ice cream at the wedding supper. All are believed to recover.
Liverpool April 9 Cunard Steam Ship Company reports a prosperous year after depreciation and a $500,000 reserve for new ships. Directors recommend a dividend of 6 percent and a carry forward of $545,000, up from $0,009 the previous year.
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