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Newspaper
Washington Post
Location
Washington, Washington Dc, United States of America
Date
Dec 24, 1910
Page
15
New York reports the dullest trading day of the year with only 112000 shares traded. A few issues rose amid gains in Consolidated Gas and select investment-grade stocks while banks prepared year end disbursements. Currency and foreign exchange showed slight ease as remittances and cable traffic influenced market mood.
The report shows customs receipts of 743 008 48 and internal revenue 921 979 42 with miscellaneous receipts 131 900 Total postal excluded 1 799 886 75 while disbursements reached 2 008 885 48. Debits, surpluses, and deficits are listed along with Treasury holdings across gold, silver, and currency in various forms. Market items note wheat, corn, and oats prices with steady or quiet tendencies as of that day.
In New York the cotton market shows no new features as holiday dullness persists. Prices close steady with a small decline of 2 to 8 points, while exports stay heavy with over 120000 bales sold and season total about 4100000, up from 3546000 a year ago. Mill reports from Pawtucket indicate opposition to immediate curtailment amid tepid dry goods trade.
Washington and Toledo market notes show cotton balances and visible supply figures with December totals. Grain prices, eggs, butter, poultry, and a wide range of fruits and vegetables list wholesale quotes for the day, including apples, oranges, peppers, and potatoes with regional price ranges.
Special to The Washington Post from New York on December 23 reports intermittent trading with little business on the floor and in offices. Brokers chanted dirges and avoided merry greetings, while London exchanges planned limited openings and wage reductions surfaced among independent steel firms.
Yesterday the Washington Stock Exchange saw light trading with most sales at par. Highlights included 200 Washington Gas shares at 76 to 75 3 4 and Graphophone preferred at 24 for 57 shares. No session will be held again until next Tuesday.
The executive committee of the clearing house section of the American Bankers Association met at Continental and Commercial National Bank in Chicago on December 16. Present were E. F. R. Fancher, Ralph Van Vechten, C. A. Ruggles, George C. Power, J. E. Ottley, and Fred E. Farnsworth. They approved the transit managers report and planned a secret committee report on zone system checks to be published in a journal, aiming to standardize letters and numbers across the banking network to ease transit work. The panel also debated weekly reports on clearing house activity and Authorized a preparatory study for a future meeting in New York in March.
The Metal Market from New York notes dull copper in spot and futures for December January at 12.16 12.25 and February March 12.16 12.30. London dull futures at £88 12s 6d and 137 7s 6d. Lake copper and electroistic quotes around 12.79913.00. Iron prices in Cleveland show warrants near 95.10 with No 1 foundry Northern at 15.25 16.25 and No 1 Southern soft around 15.25 15.75.
New York Dec 23 R G Dun Co weekly trade review says holiday retail up in most cities while iron and steel demand dulls. Pipe iron strong but pig iron quiet. construction and rail contracts moderate. textile margins squeezed, prices uncertain. Leather and footwear slow. Christmas trade buoyant for wholesalers. business failures fall compared to prior weeks.
Commodities report shows butter steady, eggs easy, cheese firm, and flour quiet. Cottonseed oil firm, sugars unsettled, coffee quiet, potatoes irregular, peanuts steady, with livestock futures in New York and Chicago weak to steady across steers, cattle, hogs, and lambs.
NY grain notes show steady spot wheat and corn with futures quiet, including No 4 red and No 2 corn in steady to unchanged close. Oats firm with standard white bids, receipts listed. New York money market steady with rates near 3 to 4 percent and sterling around 4.02 to 4.85, while Boston reports on New Haven Hartford railroad valuation at about 400 million dollars.
Haitian commissioners in the United States in talks with the Haitian Minister to arrange a 1,000,000 loan to cover government salary arrears. Prospects of negotiations are favorable, with possible bearing on a French bank proposal, viewed as an advance to tide Haiti over pending that issue.
All is set for the postal savings bank program to begin January 3 with 48 postmasters finishing training at the Postmaster General Hitchcock’s office. These second class postmasters were chosen as the most representative offices in their states for the trial postal banking system.
Gov. Mann selected Roswell Donohoe editor of the Fairfax Herald for the unexpired term of Col. Morten Marye as Virginia state auditor after Marye’s death. Donohoe, a former Alexandria editor and state senator, telegraphed acceptance. bond action required before office opens. Also reports Mrs. John W. Hall’s absolute divorce from John W. Hall for desertion. Funeral held for George H. Rodgers at his 415 South Lee street home with Rev. W. F. Watson officiating.
Boston December 2 Willam M Wood president of the American Woolen Company issued a lengthy statement on the textile situation. He warned Congress that lowering schedule KK would trigger a general wage reduction in textile industries nationwide. He argued schedule K had not raised clothing costs and had yielded $260000000 in revenue over ten years.
Bakersfield California December reports Thomas M. Montgomery treasurer and J R Montgomery board member of the Cleveland Oil Company were arrested on federal charges of using mail fraud to promote oil field property. Los Angeles offices raided earlier, with William J. Bachelder secretary and G G Gillette linked to stock sales. All four held on grand jury indictments.
Downing an Albany educator fled a bankruptcy petition in the U S district court in Utica showing debts of 11907 and assets 1002. He incurred debts as maker or indorser of notes and says he used his own credit to obtain money for the Opp Mining Company of Jacksonville Oregon and other mining concerns in which he is an officer.
Ramon Barros Guco was today inaugurated President of Chile before a great concourse in Santiago. Argentina sent a delegation of diplomats and military officers. Luca was elected on October 16 to succeed President Montt who died in Europe August 16. Following Montt's death, Vice President Alsano assumed duties and died September 6. Since then Justice Minister Figueroa has been acting president.
Two transatlantic liners arrive with a record Christmas mail haul totaling 10,987 sacks. The St Louis carries 5,832 sacks and the Lusitania 6,165. The previous record was 5,174 sacks by the Teutonic last Friday. Delays included westerly gales and a quarantine hold for a sick passenger, which ended without serious illness. The St Louis arrived from Southampton earlier today bringing mail to New York.
Italy fears the American archaeological expedition to Cyrene may move to purchase sulphur mines, risking Sicilian trade. The government seeks preemption to keep concessions from foreign powers, with France as indirect ally to bar U S enterprise affecting Tunis and Algiers phosphate trade.
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