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Newspaper
Washington Post
Location
Washington, Washington Dc, United States of America
Date
Dec 19, 1908
Page
23
Support for market smelters came under pressure as Interborough Metropolitan Securities and others showed mixed moves. The day saw a general market pullback with declines in leading issues, notably steel and refining shares, while some conservative investors sought safety.
Special to The Washington Port reports a New York session where Smelters post opened weak then fell below and rallied late as shorts covered. The decline stemmed from Utah Consolidated ore disputes with Standard Oil group, hinting at a new smelter setup. Large U S Steel accumulation and bank cash losses tied to Panama bond payments influenced trader sentiment.
The December 18 1903 issue reports Washington Stock Exchange quotes with U S treasury notes and silver certificates, plus bank deposits and deficits. It also covers grain, livestock and commodity prices, including beef, pork, butter, cheese, poultry, fruits and vegetables, and a travel tour promotion by the Chicago Union Pacific Northwest Line.
In North Lima on December 18, cattle activity shows demand only for top grades while others linger. Lambs and calves command limited gains, with cattle and sheep prices listed by grade and weight, alongside regional totals for equipment and credit figures.
The meeting yesterday of the total stock exchange featured trading in street stocks and vonda with moderate business and no standout activity. Capital Traction bonds moved between 1161-2 and 16, while United States Trust and Washington Gas saw notable actions amidst light offerings. Real estate notes include a Colton residence sale hold, and several properties changing hands or planned for development in Georgetown and along Wyoming Avenue.
New York report shows butter steady, cheese firm, eggs irregular with mixed state and western receipts. Poultry dull, spring chicks and turkeys noted. flour and rye flour steady. hides quiet. leather, wool, pork, lard steady. oils, rosin, turpentine steady. molasses firm. coffee steady. peanuts quiet. potatoes steady with southern sweets.
New York Nec 16 Wheat receipts 192000 exports 31683 spot barely steady with No 2 med 108 to 117% bids. Corn receipts 78.4% exports 10.82 spot mixed and easy. Chicago notes show weakness in coarse grains, wheat futures volatile but late rally due to shorts buying and world supply outlook. May and July contracts cited with lower closes. Rye dull. barley steady.
New York dispatch notes London tin ease to £131 spot and £133 futures, copper firm around £62 10s pot and £63 futures, local markets dull with modest falls. Lead and zinc steady, tin in London and New York, iron unchanged, Northers and Southern foundry steels priced with small ranges.
Gov Hughes appointed commission meets at State banking department with nine members present Horace White named chairman Committee on plan scope and ways and means to report next on December 26 at chamber of commerce All meetings will be executive Maurice L Mubleman offered as secretary to the committee. The cotton market later steadied with a net advance and mixed activity as December outlook and demand shift influenced prices.
Baltimore markets report dull grain trading with steady wheat and weak corn. No. 2 white and other grain categories show mixed quotes. butter remains firm with creamery and ladle varieties steady. Sugar and cheese prices hold, while rye and hat markets remain quiet.
The bulletin notes lower prices for imports and higher prices for exports in the United States during the year and fiscal year end. Declines occurred in manufacturers materials and some exports though foodstuffs largely did not share the decline. The drop in value of imports often accompanied a fall in quantity.
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