Commodity Markets Weaken as Sterling Slips
Markets struggle as sterling declines amid speculation on Bhat and Gata shipments. Closing quotes show higher in nearly four instances, while Wednesday’s demand is projected to be lower than expected.
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Newspaper
Washington Post
Location
Washington, Washington Dc, United States of America
Date
Apr 12, 1910
Page
17
Markets struggle as sterling declines amid speculation on Bhat and Gata shipments. Closing quotes show higher in nearly four instances, while Wednesday’s demand is projected to be lower than expected.
Wall Street observers interpret the delaying ruling on Standard Oil and American Tobacco as bullish for markets. A prompt decision could lift questions about mergers and copper plays, while traders note gains in Am Tobacco, Union Pacific, Read ing, and Steel as others lag after the Washington news. Offices emptied and reoccupied quickly as the market swung, with belief that a postponement reduces immediate uncertainty despite ongoing speculation.
Market in quiet mood with only two stock sales recorded the Washington Railway and Electric issues. Brokers traded mostly to set price while overall demand remained weak and prices edged up later on.
The New York copper market closed weak with spot at 1265 1843 and May futures at 1256 12.80, June 12.85, while July showed higher quotes. Copper sales reached 25 tons in April and exports noted for the month. wheat and corn futures moved lower amid unsettled weather forecasts and sparse shipments, with receipts at 85 bushels and 189,088 shipped.
The New York money market shows rates at 3 to 4 percent with closing bids steady amid active trading. Cotton closes with a downtrend from prior levels as rains in Texas temper demand, with nearby months weak and May contracts down.
Washington cattle market shows little shipment activity from nearby sources. Prices stay firm on arrivals, with Western shipments sustaining supply and demand.
In Boston on April 11 a suit alleges a female claimant aged about a year seeks a share of a Turnbull estate valued near 39 million. The case centers on a potential rightful portion to a daughter of Baldwin and involves a 39 million valuation tied to the canal and related gifts.
The case centers on a 32600 bribe fund allegedly used to influence council votes in favor of goal banks. Frank Ns president of the Pressed Steal Car Company faces indictments. Hoffstat fights extradition as legal questions arise over grand jury proceedings and foreman eligibility. District Attorney Blakeley plans to resume extradition actions. hotel records in New York hold bribe money details and signatures.
A 12 year old girl, Azenath Cooper, has been kidnapped by her uncle W H Sperry. Police in Newburgh New York and surrounding areas have launched a broad search spanning four states and three cities. Local pastors join the parents in the hunt with trips planned to New Jersey Pennsylvania Connecticut to follow leads.
A fragmented New York produce listing details dairy, poultry, beef, sugar, coffee, potatos, and grains with varied regional values. It notes shipments, receipts, and price ranges for items including creamery products, dressed poultry, and imported goods across New York and Pennsylvania markets.
Live stock market data from New York on April 11 shows receipts of 2110 head with a generally lower market. Calves and hogs details for multiple regions indicate weaker to steady trends, with specific prices for steers cows calves sheep lambs and hogs.
Market notes from Baltimore show mixed activity with wheat on grade and limited bids. Commodities and logs appear uneven, with sparse figures and cryptic abbreviations suggesting ongoing trade and price references.
Postmaster General Hitcheople reports first half results show a reduced deficit and a potential path to self sufficiency within a year. Reforms cut costs in registry and money order services, with quarter profits and plans for a periodical postage increase to wipe out the deficit.
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