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Newspaper
Washington Post
Location
Washington, Washington Dc, United States of America
Date
Dec 10, 1908
Page
5
The market shows gains with a higher stock volume while wheat falls due to the December crop report's unexpectedly favorable details. Cotton advances after yield estimates release, as investors react to mixed commodity signals and shifting demand expectations.
Washington Produce Market records show transactions received by WB Juibs and Co bankers and by the New York Stock Exchange and the Chicago Board of Trade, indicating active financial handling of agricultural products.
New York markets show mixed commodity prices with poultry volumes including 1444 fowls and 18 turkeys down, butter steady, cheese and eggs firm, flour dull, corn firm, hay strong, hides quiet, wool steady, oils steady, and various grains and fats hovering with small gains and losses amid bear markets and export activity. Includes assorted market notes on cereals, meats, and industrial oils.
The New York cotton market moved in a tight range after the government crop estimate, with a brief advance followed by a decline as traders weighed the official data and next report due December 21. Cables and local dealers noted mixed sentiment, with some selling in liquidation and others buying on speculation, while figures pointed to a broad range in reported weights and futures activity.
New York and Chicago cattle receipts show steady to higher live cattle and hog values amid mixed trends. Veal, dressed beef, calves, and sheep and lamb bids vary, with widespread price ranges and notable demand signals across market regions.
The Smith Dillon Company and BOT Gund Paper Company of Battmore and John G Louges of Washington filed a bankruptcy petition in the District of Columbia Supreme Court seeking Morrison Paper Company be adjudged bankrupt and a receiver appointed. The petition claims debts exceeding securities by $1949970 on promissory notes and an act of bankruptcy on December 7. The estate is said to include about $9000 in stock, with creditors totaling between $320,000 and $30,000. Justice Barnard issued a rule to show cause why bankruptcy should not be granted, set for December 20.
New York money market reports a 2% ruling rate with 2% closing and offered rates. Time loans are firm and dull with benchmarks around sixty and ninety days. Prime mercantile paper at 4% to 4.5% exists amid strong exchange. bankers bills quoted 434b0 48460 for sixty days and 43650 for demand. Government bonds and railroad bonds show heavy activity.
The Washington Fest dispatch notes Western Union stock rising to near year highs after a dividend increase to 3-4 of 1 percent, from 2 percent. News of Chesapeake and Ohio leadership doubts fade as rumors of Pennsylvanian control surface, with talks of a deal to reassert control following recent market chatter.
Stock trading on the local exchange continued with United States Trust Company stock rising a full point. A few ten share lots were bought after initial gains, while other listings such as Emerwa Steam Pump Company bonds and stock showed modest movements. Boss & Phelps sold property at 1235 T street NW for about 630, Thomas J Calloway to reside there after alterations. Stone & Fairfax reports two southeast brick dwellings at 141 and 42 Heckman Street sold for investment, each six rooms with $18 monthly rent, total price 4720.
Washington Stock Exchange quotations reflect optimism among steel men visitors and traders. Coal stocks show strength with Chesapeake and Ohio and Jersey Central leading, while hard coal demand appears active amid cold weather and advancing bituminous prices.
An old advertisement touts Dr Miles Nervine as a remedy for sleeplessness caused by exhausted nerves. It promises rest and restored vigor, claiming the nurse improves sleep, reduces nervousness, and revives the system, with testimonials from users and a sales note for Miles Medical Co.
Special to The Washington Post reports the first public sale of Virginian Railway stock, H H Rogers’ coal to seaboard line. One hundred shares sold for 25 8 and a portion of stock has moved in private sales, revealing Rogers’ long personal financing and recent equipment bond issues.
Reports say the Pennsylvania Railroad will place an order for 160000 tons of steel rails, signaling a possible general railroad buying surge. November blast furnace output averaged 52744 tons daily, down from October. Railroads continue heavy purchases of track fastenings with about 150000 kegs of spikes and bolts booked. American Car and Foundry got orders from Harriman lines for freight cars amid earlier orders for 520 cars. Canada Northern placed an order for 17 box cars.
Inspectors visited Hagtocey stores bakeries wagons markets and collectionries near de ut ment. Six people were fed and one incident prompted police action while thirteen were confined. District team fines increased by a percent from prior year as officers inspected 113 sites for nuisances and unsafe conditions.
Bicknell Young and Bo of Chicago will lecture on Christian Science at the National Imeser Sunday afternoon at 3:30 o clock. Mr Loung is said to be an eloquent speaker. The lecture is free.
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