Reading Leads Market Gains With 4 1 4 Points Rise
Reading stock surged 4 1/4 points amid a strong general market. Union Pacific and St Paul advanced as copper shares gained on improved trade and Amalgamated Copper hit a new high for the year.
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Newspaper
Washington Post
Location
Washington, Washington Dc, United States of America
Date
Aug 01, 1908
Page
32
Reading stock surged 4 1/4 points amid a strong general market. Union Pacific and St Paul advanced as copper shares gained on improved trade and Amalgamated Copper hit a new high for the year.
July 31 closing prices show varied activity across utilities, railways, and industrials. Notable quotes include American Tobacco, Atchison convertible, Baltimore and Ohio, Central of Georgia, Chicago railroads, and Union Pacific 4s, among others, reflecting mixed demand and shifting yields in a turbulent session.
Money rates steady with bankers bills at 4.9690 on demand and 4.85 on 0 day bills. Butter, cheese, live poultry, dressed meats, vegetables, and fruits prices listed with varied bids. market activity noted as quiet in some sections and firm in others across New York, Boston, and regional points.
London tin and copper prices rise while local markets firm, with mixed livestock quotes. The report lists commodity prices, exchange data, and shipping figures across metals and cattle categories for July 31.
Wall Street notes a sharp upswing in copper stocks worldwide with gains in London Boston and New York. Reading and Reading earnings speculation, anticipated Hepburn clause ruling, stronger July steel and cotton reports, Taft acceptance letter and stable money supply fuel a broader market advance.
Washington Railway and Electric shares led activity with a sale of 10 shares at 34 and a broker’s quick transfer of 160 shares at a quarter after an eighth bid. Georgetown Gas certificates sold, Butte Coalition around 27 58, market optimistic despite reduced volume. Exchange to close today. Gould and Harriman plans hinted for railway improvements amid pipeline, mains work near Chevy Chase.
The government cotton condition report shows an 83 percent rating on July 25, higher than 81.2 percent four months earlier and 75 percent a year ago, with historical July 25 figures varying in prior years. Market reaction was muted despite the upbeat reading as prices drifted back after an initial uptick. The report also notes the world’s visible cotton supply totals and regional trade data, including New Orleans market activity and assorted commodity quotes across eggs, flour, cornmeal, hay, and oils.
July Wheat rises on Chicago unloads and export doubts. Spot prices for No 2 red and No 1 Northern Duluth mixed, with closes at 98 to 1.00 for futures. Corn and oats show mixed receipts and exports with limited trading activity and steady spot values. Rye declines noted in brief market snapshot.
Chicago grain notes a broad market decline led by wheat as September futures slip and cash selling rises. Reports of rust crop damage from Minnesota and Missouri weigh on sentiment while new crop demand remains tepid. Corn weakens with slight gains for late month positions, hogs firm but retreat by day end.
Live stock prices and receipts across beef cattle calves hogs and sheep. Cattle receipts near 1500 with steady to firm values, hogs higher, sheep and lambs mixed, reports from London and Chicago quoted. Exports tomorrow include cattle and beef quarters. market activity shows varied demand across classes.
R G Dun & Co weekly trade review notes continued moderate gains with irregular progress across regions and industries. Textile mills increase production weekly, cotton goods demand grows, and activity rises in steel and pig iron markets while east regions lag. Shoe manufacturers report quiet markets after Western wholesalers depart. leather prices edge higher and demand for belting improves slightly.
Kuhn, Loeb & Co and Blair & Co announce they'd buy 4 million dollars of Wheeling and Lake Erie three year notes at par with accrued interest. The deal gives BH Harriman control via Wabash representation and includes an option on 12 million dollars of bonds, with foreclosure not pursued despite near maturity.
New York July 1 market notes show the government crop report at 8 percent, little influence on prices. August advances faded after opening steady to modest gains, while September and late months softened. July to December futures traded with scattered covering, bear support, and Weather map interpretations guiding movements.
In Baltimore market notes dated July 31, receipts totaled 6,663 bags of flour with prices steady. Corn and white/yellow varieties showed dull activity with mixed bids and September/October futures noted. Grain flows include steam shipments to Liverpool and multiple grade references such as No 2 red Western and Southern white corn.
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