Count the Savings in the P-B Sale of Suits and Overcoats
This sale promotes a public dividend sharing proposition. Buyers can acquire elegant hand tailored P-B suits and overcoats at genuinely reduced prices.
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Newspaper
Washington Post
Location
Washington, Washington Dc, United States of America
Date
Jan 22, 1914
Page
16
This sale promotes a public dividend sharing proposition. Buyers can acquire elegant hand tailored P-B suits and overcoats at genuinely reduced prices.
New York stock and bond activity shows heavy selling on the NYSE with steel shares at a high but volatile price. Analysts expect a strong December quarter, while offsets include large professional selling and ongoing market resilience. The Massachusetts public service commission favors negotiated agreements and a Boston and Maine separation plan. The Imperial Bank of Germany may cut its 5 percent discount rate at tomorrow’s meeting.
Broad rise in prices as the New York State bonds offering of 361,000,000 of 4 1/2 percent bonds drew strong demand. Stocks and bonds advanced on active trading with bullish sentiment after the president’s message. Steel and iron trade showed improvement, with weekly reviews confirming firmer business conditions.
New York and Philadelphia market notes list mixed price ranges across commodities. Butter, eggs, cheese, poultry, flour, pork, beef, lard, and cottonseed oil show varied receipts and steady to firm quotes. New York and Chicago futures also noted with small shifts in hogs, cattle, and sheep. Copper futures remain firm. London copper and wartime notes appear with minor movements.
Boston January 21 closing quotations show Centennial at 16 in copper stocks list larger entries include Copper Range Consolidated Montana mines Mohawk Nevada Consolidated Nipissing North Butte United Fruit Utah Copper Co and Utah Consolidated with shipments totaling 10 367 and an average of 182 406 per run 119 866 average and 420 runs reported by Hibbs & Co in New York.
United States Treasury daily transactions record revenue receipts and ordinary disbursements. The report lists this day totals and year to date figures including cash assets and total bank note redemptions, with specifics on gold, silver, and currency holdings and liabilities.
New York money market figures show call money steady at 2 percent with closing at 24873. Short term loans in weak condition for 60 and 90 days at 3 percent. Mercantile paper around 4.44 percent. Sterling exchange firm with demand 49641 and 6 day rate 42380. Commercial bills 4.82 percent. Government and railroad bonds described as irregular, with railroad bonds strong.
Travelers Bank of Atlanta could not open for business today and its affairs are now in the hands of the Georgia state bank examiner. Organized two years ago with capital of 200000, deposits reportedly fall short of that amount. The bank was not part of the local Clearing House Association. New York Clothiers Fair faced bankruptcy as Smith Co. and partners with branches in New York and Brooklyn were placed into receivership. Liabilities are estimated around 450000 to 2395000.
Holland argues Canada failed to secure a 20 million dollar London loan due to abnormal conditions yet emphasizes no impact on Canada’s general credit. He notes Canada’s exports to the United States rose substantially after the new tariff act, especially in October, and predicts further growth as the Panama Canal opens and Latin American trade increases.
The New York grain market shows steady or slightly higher tones across wheat and corn with firmer futures. Spot wheat remains steady with No 2 hard and No 2 red values noted and occasional increases in futures. corn, oats, and barley display subdued activity with occasional price steadiness amid colder West weather and expectations of export demand.
Optimistic mood in financial circles following the President's message. Bonds and stocks rise modestly with a big day in bonds on the local exchange. National Savings and Trust declares a 3 12 percent quarterly dividend payable February 1. Audit contract awarded to Harvey, Chase & Co. for Baltimore city audit at 14 800 dollars over two years. Public utilities commission plans to oppose Georgetown gas merger. December shows a large revenue decline for Baltimore and Ohio Railway. Washington Clearing House Association reelects officers for 1918. Market activity includes 9 500 dollars in Capital Traction bonds and various holdings on Washington Electric and Fidelity Storage dividends. North Capitol Savings Bank announces new officers. Georgetown Barge Company reports a 7 1 5 5 6 earnings deficit versus expenses for the year.
Virginia, Pennsylvania, Maryland, and Delaware fruits and vegetables in good demand. Home grown vegetables moderate. Listed prices cover poultry and dairy items and a wide range of vegetables and fruits from potatoes to citrus, with several regional sources noted and prices per basket, crate, or box.
London reports Sir Felix Schuster, governor of the Union of London and Smiths Bank, at the annual meeting predicts the 1913 U S tariff act and currency bill as the year’s leadership in commerce. He says they will reshape competition, boost Anglo American trade, and advance European money markets.
Treasury officials say all national banks must indicate acceptance or nonacceptance within 60 days, regardless of location, while state banks may delay. With 4,400 applications, up to 6,000 banks could join by week’s end amid ongoing federal action. Also, a federal probe into Indian oil lands and an oil pipeline for navy fuel will hold a preliminary hearing in Oklahoma Saturday night.
Former North Carolina governor Robert B. Glenn is targeted for the international joint commission, with Washington connections to interstate commerce and other posts. The slate includes ex Senators Gardner and Turner and ex Representative James A. Tawney. It is expected Turner or Tawney resigns, with Secretary Bryan recommending Glenn to fill the vacancy. Senate confirmation not required.
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