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Newspaper
Washington Post
Location
Washington, Washington Dc, United States of America
Date
Jan 01, 1916
Page
11
Market closes with marked sale of prices across steel, copper and rail stocks. Mexican Petroleum leads gains with record highs as Anaconda Copper climbs and American Smelting advances. Bond activity rises with strong rail earnings boosting November results.
City Pa December 31 credit balance 32.25 runs 99 032 average 68 shipments 40 110 average 54 215. These figures summarize activity at the curb market with noted balances and shipment totals for the period.
In New York on Dec 31 Mercantile paper at 3.3 percent. Sterling 60 day bills 4.69 percent, demand 4.73, cables 4.74. France demand 5.868, cables 6.85. Marks demand 76 percent, cables 76. Guilders demand 42, cables 4344. Rubles demand 30, cables 30. Bar silver 65. Mexican dollars 42. Time loans steady: 60 days 2 to 12 percent, 90 days 2, six months 2. Call money steady high 2, low 1 percent. Swan? rate 2, last 2, bidding 1, offered 2.
Joseph P. Grace is portrayed as a leading figure in U S commerce with South America. Major American investments in Chile and Peru are cited by the piece including Guggenheim copper funds, Schwab iron ore holdings, and Carro da Pasco mines. The article argues U S banks can now support foreign trade by opening branches and handling drafts, linking American wealth to South American growth and wartime opportunities.
Mr Grace states a high authority estimate places English capital in South America at about 35 billion. He argues Europe dominated development, South America is ready for American commodities, and America could become the dominating investor postwar if its financial facilities and business skill are applied. Holland.
New York market listings show butter receipts 6 338 with 92 score creamery goods at 33 percent, firsts 28 3234, seconds 85 27 percent. eggs 5201 receipts with fresh gathered prices 35 36, extra first 34 34 percent, firsts 83, seconds 30 32. hen eggs from nearby flocks 45 48, browns 38 40. Henses milk and flats specials 17 17 percent. Poultry alive Western 1434 fowls 1414, dressed Western chickens 121 17, turkeys 24 26. Sugar raw steady 41 450 4 58, rennet steady. Flour Pork or Beef—.
The Washington Stock Exchange saw active closing sessions with no clear trend. Washington Railway and Electric preferred led sales, Lanston and others followed. small gains for Capital Traction and solid rates for Graphophone stocks. Bond sales included $10,000 Washington Railway and Electric 4s and Potomac Electric consolidated 5s. The Franklin National Bank declares a 1.5% quarterly dividend payable January 1, 1916 to stockholders of record December 24, 1915.
New York reports November railway earnings show gains across Northern Pacific New York Central and Chesapeake and Ohio amid strong copper and metal prices. The German government notes maturity ends foreign loan presence. domestic holdings remain in Reichsmark terms affecting market sentiment.
In New York in December the cottonseed oil market showed total year sales at 4,477,400 barrels versus 3,060,700 last year. Price ranges for crude and yellow and white varieties, with monthly figures, reflect a market steady to higher on prime grades and summer yellow futures.
Trading updates show Capital Traction Railroad at 500. Washington Railway and Electric bonds listed with 4s at 5000 and preferences at 32 to 83. Washington Gas 10 at 74. Mergenthaler Linotype 1 at 17144. Lanston Monotype notes mostly at 74 with multiple lots. After call Potomac Electric Consolidated 5s at 2000 and Washington Railway and Electric 45 at 1.
Bid and asked quotes listed for Georgetown Gas Washington Gas Col Gas and other gas debentures. Includes railroad bonds Capital Traction A and P River Rob 6s and metropolitan listings for utilities and trust stocks. Also covers mining stock and miscellaneous securities with prices and par values.
The weekly Federal Reserve statement shows an increase of about $1,000,000 in bills discounted and bought by the twelve Federal Reserve banks compared with the prior week. The report covers resources, gold and silver holdings, and various balances, noting deficits and reserves as of December 30, 1915, with details on maturities and cash assets.
Liverpool steadiness and talk of stronger export demand spurred an early rise in New York cotton with March futures at 12.62. Later trading quieted and prices eased for New Year adjournment, March closing at 12.48 as general list steady with small gains.
The weekly clearing house banks and trust companies hold 146,951,120 in excess reserves, up 58,690 from last week. Loans total 5,257,606,000 with deposits rising. federal and other depositories show added reserves and a broader rise in net deposits and circulation.
Chicago grain notes a sharp setback as year end activity lacks support. Wheat futures decline with May at 1.25 and July at 1.17, while corn oats and provisions also show losses. No. 2 red wheat quoted around 1.28 to 1.24, futures figures listed with mixed opening and closing ranges.
Baltimore markets report mixed prices for oats and white flour goods, with poultry and fowl values listed for dressed turkeys, chickens, ducks, geese, and pigeons. Live animal pricing includes chickens, ducks, geese, guinea fowl, and turkeys, while butter and eggs are recorded with regional distinctions and varied quality grades. Additional market notes cover financial instruments, bonds, and stock quotations with investment totals and listed company prices.
Market listing shows live poultry prices for hens roosters ducks and turkeys with varied per pound and per basket rates. Cheese butter eggs and greens priced across New York and nearby regional sources alongside vegetables like potatoes onions peppers cucumbers and citrus fruit with several regional price ranges.
Washington traders report hogs at 6 6 percent dressed and mixed weights with small to heavy classes. Sheep, veal calves, and lambs show varied figures with clipped wool and medium stock noted. Market activity details include weights and percentages across categories.
In New York on December 31 copper is steady at 22.25 to 23.09. Iron remains firm and unchanged. Tin on the metal exchange shows strength with spot at 40.25 to 41.00. London spot copper quotes £88 2s 6d with futures at £86 6s. Electrolytic copper and tin prices appear in London and futures around £168 for copper, £169 for tin, and antimony at £125.
Chicago hog cattle and sheep receipts show mixed price ranges with strong and firm bids across categories. New York beef and calves also report firm to rising prices alongside persistent demand. agricultural implements ruled non permanent improvements making related commercial paper eligible for Fed rediscount.
An annuity arrangement in the Mutual Life In Furnace Company York guarantees for a client named Ute, secured by a substantial reserve built from more than a century of business experience totaling over seventy three years. The proposal was received by Thomas P. Morgan. Boom 428 Southern.
Philadelphia December 31 The 5 260 000 four percent thirty year city municipal improvements bonds bids opened today were oversubscribed six times The bonds were awarded mostly to local banking institutions at prices from 102 30 to 102 297
Philadelphia market updates show butter steady eggs steady cheese firm and wheat higher with No 2 red and southern red prices noted. New York wheat prices ease while oats rise and corn stays firm. Berlin dispatch reports Sweden bans all naval and military officers and soldiers from belligerent countries and bans military correspondents from war zones.
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