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Newspaper
Washington Post
Location
Washington, Washington Dc, United States of America
Date
Jan 25, 1908
Page
9
The headlines note Delaware and Hudson selling one year notes to raise 6 million, with similar plans for the McAdoo Tunnel at 15 million. A broad view shows ongoing favorable money conditions, cautious speculation, and renewed market exhibits as trading activity tightens amid strong professional handling.
Market notes show Wheat and corn futures steady to firmer amid unchanged trading. No 2 red and No 2 white wheat quotes hold near prior levels while old crop corn edges, oats quiet with No 2 white steady, rye easier, and grain freight activity listed as fairly active.
Special to The Washington Post New York Jan 2 Brokers on the Stock Exchange attended in reduced numbers due to heavy snow. Prices hardly moved except for hard coal stocks as Steel Corp earnings expectations and railroad sentiment weighed on the market. Reading and Jersey Central fell below par amid coal trade softness and bond-issuer speculation, while money easing failed to spur a broad rally.
At the Storch Exchange yesterday the Parrig chaired session as traders watched Riggs National Bank stock rise with 10 shares sold at 60 and closing at 50.5 bid. Second National touched 4.31.2 and Washington Exchange 1.15, while American National held 1.45 and Commercial at 1.93. Trade favored Lanston, with 300 shares noted at 10 and hopes for more stock to keep the price firm. Directors of American Graphophone Co plan a Tuesday meeting on preferred stock dividends amid broader calls for currency legislation.
A historical New York produce list shows varied prices for butter, creamery products, flour milled goods, meats, and grains. Values indicate steady to firm trends with occasional slow or unchanged readings in items like western chickens, turkeys, leather, cottonseed oil, petroleum, and coffee futures.
Wheat gains late on Argentine crop concerns despite early losses, while corn and oats show mixed receipts and export strength. May wheat settles near 102 3/4, July 1 04, with declines and recoveries shaping a volatile session amid South American supply signals and Western crop weather.
Prof Francis Thorpe, renowned educator and author, asks the District Supreme Court to compel Secretary Cortelyou to pay $10,000 for compiling five volumes titled Charters Constitutions and Organic Laws of States and Territories. He contends the funds were appropriated by Congress and that the work was completed with manuscripts in the Public Printer’s hands. The secretary counters that the contract and the delivered work do not match the act and asks for further review. Justice Wright reserved ruling.
New York money market closes with rates near 11.74 percent and firm foreign exchange. World visible cotton supply shows total in the 4831955 bale range, with American and other country totals compared to last week and last year, including British and European holdings and India outputs, amid ongoing market tensions.
Prices for butter face short supply yet good quality remains. Virginia and North Carolina produce regions show mixed changes while regional oats and beef steady. Poultry demand softens for hens as turkeys and ducks show modest moves. Fresh meat and vegetables, including cabbage, beets, peppers, and tomatoes, appear with fluctuating quotes across stations.
Market item shows January 24 balances and shipments with figures for Chu Of and Toledo Ohio. Includes references to Rina 40456 143 259 average and shipments 178 106 164 482. Mentions North Lima South Lima Indiana 9 and 48 in oil context.
Sensational fluctuations in the New York cotton market followed conflicting labor reports from Lancashire and rumors of a near settlement. Prices waxed and waned with late buying, then collapsed on a Liverpool cable claiming no agreement. March briefly rose before falling below initial levels, leaving traders awaiting clearer information on the labor dispute and global tensions.
Chief Justice Clabaugh signed a temporary restraining order halting removal of the steamer St Johns from the Seventh street wharf. Receivers Richard H Lynn and the United States Trust Company, named for the Washington and Potomac Steamboat Company, seek to protect creditors as Central Railroad of New Jersey crews claim forfeiture. The court will decide the railroad’s rights next Friday.
James Arthur Kemp former chief clerk of the police department pleaded not guilty to grand larceny and embezzlement charges at arraignment before Justice Job Barnard in Criminal Court No 2. He faces three indictments alleging misappropriation of several thousand dollars before his July disappearance, and was brought back from New Orleans. The trial date was set for within two weeks as prosecutors prepare witnesses.
Ruth McCracken was sentenced to three months in jail by Justice Barnard in Criminal Court for conspiracy to defraud several local business houses. Her son William J McCracken received a three month term in the workhouse. Daughters Ruth and Jane McCracken, also indicted, were released on District Attorney Baker’s recommendation after ten weeks in jail. Attorney Henry F Woodard entered a formal plea of guilty for the other son.
Receipts mixed with slower trade across cattle calves hogs and sheep. Cattle thin to steady with prime steer values 4.5 to 6.35 per cwt while cows and heifers edge higher. Hogs firm to higher with choice heavy shipping hogs 40 to 44.5 per cwt. Sheep and lambs steady to higher as supplies remain moderate and quality varies.
The letter from Walkers reports copper prices near 14 cents per pound with some at 11 cents and electrolytic copper around 14 cents. Domestic buyers are sparing, money is easy, and demand may rise later. outlook favors higher prices into early spring with potential gains to about 16 cents.
Elana Durand, deputy commissioner, testified in the Standard Oil annulment case about oil shipments on the Chicago and Eastern Illinois Railroad. He identified tariffs showing 4 collections of 8 14 cents per hundred while waybills listed 11 cents, noting several southern destinations received the special rate of 6 cents per hundred pounds. Durand said he personally examined the records and stressed accuracy amid the government’s fraud claims.
The Washington Railway Relief Association held its annual entertainment at the Masonic Temple on Thursday with a packed audience. The program featured Al Griffith Wiburr imitations, a Jegerdemain act, Apollo quartet led by Meyers and Roderick, Holland, and Mosher, George Connor singing, and a robed baritone solo by Roderick, followed by dancing.
District board of education declared D William Chancellor incompetent and unfit to head the local school system. Chancellor, deposed, plans mandamus against the board seeking reinstatement. At Chancellor’s home last night, it was said the action would be filed as soon as his attorney Creed Fulton can attend. Chancellor invited to appear before the Chamber of Commerce committee investigating the schools. no word from him.
Judge Komball heard Harper demurrer to an information charging manufacture and sale of headache preparation under alleged misrepresentations. Several hundred bottles of the compound seized by deputy marshal will wait the ruling. Government teams argued the act’s validity. Harper’s side contended. Special meeting promotions and a Missouri congressman speech follow.
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