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Newspaper
Washington Post
Location
Washington, Washington Dc, United States of America
Date
Aug 15, 1907
Page
8
Disappointment voiced over absence of reassuring remarks from National Administration officials as stocks slide. Traction Group weak and Third Avenue falls. copper, oil and utilities lead declines while some industrials show minor steadiness. Rumors of large block trades and broker collateral pressures weigh on the market amid a broad market downturn.
New York traders weigh Pope Manufacturing collapse and a string of credit fears. Stock prices slide as bankers wary of mercantile paper and inter‑bank exposure. Amalgamated Copper and Interborough Metropolitan bonds lead declines amid cautious margins and looming liquidity concerns.
Treasury report details government bonds and notes, with prices, yields, and receipts. Mentions include New York operations, American Sugar, and various state issues. References to Treasury ranges, exchange rates, and coupon figures appear within a broad financial summary.
Investors attended the local Stock Exchange with hopes of surprises. Capitol Traction bids steadied as volume rose and prices firmed. The market turned from downward to upward sentiment with several issues trading, including Potomac Electric and Washington Gas, amid varied bids and withdrawals. The New York office reports the Strathalan steamer arrived at Anapulco with Jalla unloading at Marques.
The Washington Stock Exchange reports mixed movement among rail and electric utilities with Capital Traction and Capital Fraction showing notable activity. Noted closings include 12 offers, entries for Washington Railway and Electric and Mergenthaler, with several shares around 130 to 190 and a steel exchange bid noted but not detailed.
A fragmented New York produce market summary notes mixed receipts and prices across items like eggs poultry and cotton goods. Entries mention 677 eggs, 27049 darkers, 10615 fowls, 17685 bacrels, and 39127 weekly market figures amid verbose freight and revenue notes with sparse coherent totals.
The Chicago grain market closed steady with September prices largely unchanged amid large wheat supplies and reports of weather trouble in Canada and the U.S. The wheat oats and corn sessions showed price shifts as traders weighed exports demand and a fall in prices. Nearby echoes in New York cotton and futures markets reflect cautious sentiment ahead of harvests and potential supply disruptions.
Receivers named for Pope Manufacturing and Pope Motor Car in New York Massachusetts Connecticut and other states. Court filings show assets near 1.23 million with liabilities rising from loan curtailment. Albert L Pope named receiver in New York Massachusetts and Connecticut. business likely to continue despite strike and market turmoil. Ample assets and about 7209 employees across plants, with court actions aimed at protecting creditors and stockholders.
Fragmented OCR text outlines market activity in Baltimore with references to winter wheat and corn, receipts, prices, and various entities. The jumble mentions Beltinora, Easter, and rail freight terms, suggesting a chaotic page of market listings and stock movement. Specifics are unclear due to garbled source data.
In a fragmented report the metal market shows a sharp break with the copper and London closing around 4 pounds 122. Future prices hint at a hit to copper, with mixed signals seen across the market. Local ratings and prices fluctuate, while some metals fall and others hold steady amid uncertain demand.
The Vanea prom company of Boston 15 plans a system of wire telegraphy linking New Orleans to the Caribbean and to several ports in Karagma and Costa Rica. Stations would reach San Antonio Cuba and Swan Island with further jumps to Port Simon Boca del Toro Costa Bien Colon Puerto Cortez Honduras Cape Gracias a Dios Frasillo and Blue Nelda. Authority covers most stations except San Antonio. Cuban permission sought amid fears it may clash with Cuba’s own wireless projects. Representatives urged Taft and Costa Rican minister Calvo to press for concession conditional on non interference with Cuban plans.
The United States Weather Bureau confirms no earthquake record in the Orient. The seismic disturbance rumor stemmed from a reported break of the Shina-dapan cable, according to the agency’s gelamograph.
The report notes inactive TRQN trade with large smelters buying only week to week for prompt delivery. Foundries face softer demand, winter may bring slack in copper markets, and plate shipments underperform. Steelworks expect yearlong work, but copper producers withdraw from the market while prices drift lower.
Deputy Comptroller McCoony reports the August 4 bond sale in New York City met with satisfactory demand though activity centered on small lots and contractors paying claims with bonds. Officials note low 1 percent yields deter investors, expect par pricing now with higher rates when market improves, and anticipate selling the remaining 1,000,000 issue through private sale.
The Interstate Commerce Commission announced hearings on several major railroad rate disputes. Cases include Parties 01 Company versus Chicago Milwaukee Road at St Paul on August 2, Morse Produce Company against Chicago Malden and St Paul on August 3, and Hennenin Paper Company against Great Northern with October dates for the rate disputes. The Pacific Coast lumber case and uniform bill of lading matter are scheduled for October hearings, with Harriman lines named as defendants in the Pacific Coast lumber case.
A complaint filed with the Interstate Commerce Commission accuses Lehigh Valley Railway Company of charging excessive rates for transporting anthracite coal from its origin to yellow locations in the United States. The Hehance Coal Company of Pillsburg Pa alleges rates are up to 100 percent higher than similar hauls from other origins and seeks a just rate and reparations.
The Amencas Minister to Portugal reports Portugal relaxed exit rules for foreigners with a Decree dated April 27. Passports are not required to depart by sea unless treaties or grave public order demands override the decree. A separate notice covers a Chicago bank change hands with new owners John Worthington and Jason Perry group.
Wildlife market columns show cattle and hog prices with mixed demand. Notable figures include calves at 525 per hundredweight, hogs around 450, common stock at 60, and various local lots cited in fragmented listings.
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