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Newspaper
Washington Post
Location
Washington, Washington Dc, United States of America
Date
Aug 01, 1917
Page
3
Rail and securities topics dominate the day with gains fading as higher level markets show weakness. Alcohol and distillers securities draw attention while bond market activity remains nominal. Steel statements trigger notable interest among investors and analysts.
An irregular close followed a midday rally as United States Steel and related issues led gains on prospects of a favorable quarterly report. Steel hit 125 its low 122 with a net 1 point slip. Industrial Alcohol and Distillers traded weak amid reports of adverse congressional action. Total stock sales reached 520000 shares and bonds remained quiet with Liberty 3s around 99.40.
Chicago reports July grain contracts paused by board action as July wheat and corn show mixed moves and cash markets list varied prices for wheat corn oats and rye. Cotton climbs with minor profit taking while New York financials show firm sterling rates and steady government bonds as traders eye crop and commodity shifts.
Chicago and New York market notes show mixed hog and cattle trading with receipts around several thousand head. Hog prices range broadly from mid teens to above 16, cattle weak with calves and feeders varied, and sheep and lambs unsettled. cottonseed oil, wheat, oats, eggs, butter, and poultry prices listed with regional variations and spot quotes.
New York reports firm copper prices with electrolytic copper at 29.00 to 30.00 and nearby, tin steady at 63.50 spot. Hogs cattle and produce markets show varied quotes with butter, eggs, cheeses firm or steady, and coffee futures active with Rio No 7 at 7.73 September and 7.83 December.
July 31 report notes Atchison gross earnings up in June but profits offset by higher expenses. Georgia Railway asks $2.5 million notes for Tallulah Falls power expansion and Rabun reservoir. Allis Chalmers posts quarter sales 6.44 million with profits 1.00 million. California Petroleum for year ends shows gross 2.031 million, net 1.512 million, final surplus 0.58 million.
A Washington Stock Exchange session showed dull activity with modest trades including Potomac Consols at 97 and Mergenthaler at 684, Capital Traction at 80 and Washington Gas at 72 1 2, plus bonds Washington Railway and Electric at 78 and Capital Traction 5s at 193. Banks expect busy day as intangible tax filings lag. Central Savings Bank officers invite the public to inspect the new bank building at Seventh and I streets NW at 7 o clock tonight.
Federal Judge Frank Youmans ruled in Fort Smith Arkansas that the standard New York and New Orleans cotton futures contract fails to disclose the principal, making it illegal under the cotton futures act. Thorn & Magrini of New Orleans sued Fred Browne of Fort Smith for 28315, claiming tax liability on the transaction. Leaders of the New Orleans Cotton Exchange said they were not alarmed, noting this is one of several lower court challenges likely to reach the Supreme Court.
Dean and Farber, two alleged Royal Flying Corps members, were arrested near Rocky Mount Virginia on charges of stealing automobile parts for the ordnance department. Telegraph from Toronto police revealed their true names Karl Oslade and W J McAuliffe. They are American citizens held for Canadian authorities.
Farmers around Hattiesburg Mississippi face a lose lose situation as 1000 hogs lack feed. Agriculture Department advised buying hogs to fatten on army cantonment refuse at Hattiesburg, but War Department contractors northern men to dispose of the waste. Farmers lose money while the Agriculture Department tries to defend its actions.
A tool laden thief halted laborers on Eighth street and Bates road northeast yesterday morning and is sought by police. He stole more than $86 worth of tools from a locker used by mechanics. Victims named include James W. Iliis of 419 Massachusetts avenue and others at 318 New Jersey avenue northwest, 222 NJ street southwest, 789 Tenth street southeast, 1814 South Capitol street, and 739 Eatreet northeast.
Police say Harry McGowns, 27, colored, was slightly wounded in the shoulder by a stray bullet while passing a tot near Minnesota avenue and Meade street northeast. The small caliber projectile caused a flesh wound. Investigators believe a boy with a small rifle fired the shot.
A couple near the district are suspected of taking bathing suits belonging to Mrs. M. Ashley. Police report indicates the theft occurred in waters nearby, with owners unsure of the exact location where the property was taken. Investigation continues to identify the culprits.
A desk sergeant at police headquarters received a report describing a girl thief and a man in a bathing suit. The message mentions a theft of blue bathing dresses, a red tee, a purple bathing cap, and a pair of green shoes. Descriptions note a possible pair in the Mutts area.
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