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Newspaper
Washington Post
Location
Washington, Washington Dc, United States of America
Date
Apr 15, 1908
Page
9
New York April 14 dullness marked the stock market with transactions meager and three or four operators dominating the floor. Prices showed little movement as profit taking and uncertainty clouded future trends, while exports and cotton receipts pointed to broader economic softness.
The cotton market in New York on April 14 shows weakness with months below 9 cents and a net decline of 106 12 points, though closing was steady. Daily sales estimated at 275,000 bales as prices fluctuated through the day amid liquidity, weather, and trade reports, with May, July, and October prices slipping before late-session recoveries.
Quotations from Indies to wholesale prices. Fresh Virginia and North Carolina goods show slight increases while Butter demand remains heavy, Cheese and Poultry markets firm. Dressed meats quiet but pork, calves, and hams show steady to firm values as vegetables and fruits move on strong volume with assorted regional offerings.
Baltimore Md April 14 market notes show flour firm receipts 5721 exports 952. Wheat dull with bid figures for No 2 red Western across contracts April May July. Oats steady with No 2 white bids. Butter eggs and cheese steady to firm with various grades quoted. Sugar prices unchanged. Grain freights quiet.
An early hour trading view shows 80 000 shares traded with market enthusiasm slow and many brokers leaving town. Copper mine activity at Butte rises to 85 percent capacity while Amalgamated's policy is thought to limit future price gains. Southern Pacific earnings and dividend prospects are discussed amid weak market breadth and reduced short interest.
The report covers stock trades for Local Stock 101-2 with a 1931-2 opening and 1931-4 low, notes a 1931 May dividend on Washington Gas for stockholders of record April 15, and records an extra 10 percent dividend from People's Fire Insurance tied to its liquidation. Prices show 6 1/2 bid and 6 1/2 asked amid optimistic market rumors in the financial district.
WEW YORK PRODUCE. 16-POULTRY Altre, aut, Yorks. ... New York, April 14. WHEAT-Recalpis, 14,000 bushels exports, 45,980 bushels spot. No. 2 Ted 99% elevator, No. 2 ref 99% f. O. B. afloat. May 89 1/2, July 93 1/4, September 90 1/2. CORN-Reveipte 1,073 bushels spot No. 2 nominal elevator. OATS Receipts 70,500 bushels. RYE-Finn.
Reports of rain in Kansas dented wheat and corn futures after a firm open. May wheat fell to around 91 cents, corn prices slipped, oats down, and provisions lower as cash demand and spring seeding progress weighed. World supply and receipts showed declines and mixed car figures across Minneapolis, Duluth, and Chicago.
In New York and Chicago markets April 14, cattle receipts totaled in the low thousands with steady to mixed tone. Calves, sheep and lambs showed varied demand. hogs remain steady to slightly down with notable price ranges for prime and medium stock. London market cues influenced copper and metal prices locally, with commodities showing modest shifts but overall local activity steady.
Special to The Washington Post reports Herman Ridder at the Reform Club dinner denounces a press tax via higher print paper prices. He traces the Dingley tariff, paper mill mergers, and exports abroad to a paper famine used to justify price hikes. He contrasts costs in U.S. and Canada, notes labor cost small increases, and accuses paper trusts of overcapitalization and exploitation of publishers.
United States Steel corporation confirms rapid execution of Tennessee Coal and Iron upgrades. Remodeling of three blast furnaces raises output by 600 tons daily, 600 ton mixer installed, four new 1M ton open hearth furnaces built, and coal mine No 13 opened on the Pratt seam. Steel rail mill expected to operate next month with 50 000 tons per month capacity.
The Court of Appeals upheld the proposed merger of Equitable Trust Company with Mercantile Trust Company of New York City. Bainbridge Colby, minority holder with 200 shares, had objected to the merger. In San Juan Puerto Rico, a prize committee awarded $300,000 in capital plans with F E Perkins first prize $5,000 Ritchie Abbott second $2,000 and others among the competitors.
Edmund K. Fox of the A F Fox Company reports the sale to Henry Orth of a large five story building at 821 828 B Seventh Street NW occupied as a furniture house. The price was upward of 100000 and the purchaser plans to hold as an investment under a lease for years. The firm recently sold several apartment houses and large tracts of unimproved ground. Moore Hill Inc sold the residence at 1442 Clifton Street NW in Columbia Heights for 3400, a new three story colonial home with ten rooms two baths heated by hot water.
A petition to the Interstate Commerce Commission challenges railroad and express carriers authority to refuse shipments of alcoholic liquors between states. Harvest King Distilling Co of Kansas City sues Atchison Topeka and Santa Fe Ry and others for refusing to carry liquor in less than carload lots to Oklahoma. A similar case may be decided with it. Also Kraupensky named as acting charge d affaires in Russia.
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