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Newspaper
Washington Post
Location
Washington, Washington Dc, United States of America
Date
Jul 01, 1908
Page
19
The market showed little movement with few notable gains while optimism from a favorable crop report failed to lift prices. Railway stocks drifted, freighter strike threats faded, and traders awaited clearer guidance as weather signals improved crop prospects.
Yesterday proved one of the dullest days on the local exchange with almost no buying. Capital Traction at 120 was the sole sale of record. Crane of Crane Parris & Company predicts dullness until after the Denver convention but notes food staple securities offer potential for points of gain before September. Opinions split on Bryan and Taft as market influences, with insiders favoring Taft for steady Roosevelt policy continuation and a move toward normalization.
The Anaconda Coppes Company announced a quarterly dividend of 50 cents per share. London copper and tin markets showed mixed responses with spot and futures quotes edging lower, while New York cotton and grain markets tracked unevenly with private reports influencing price directions. Weather and agricultural notes filled the day alongside livestock and produce pricing updates from major exchanges.
Special to The Washington Post reports neutral market news with Anaconda keeping dividend steady and readings from May showing declines. Reading and Reading Coal saw lower gross earnings, net gains only modest, while Union Pacific and Pennsylvania indicate possible resumed activity. Bond trading firmed slightly as stocks showed cautious strength amid limited upside.
Extension work on Harriman lines will start July 1 from Onigha Nebr with crews sent to Athol Cut-off in Colorado and Dubuque Iowa. Four hundred employees at Chicago Milwaukee and St Paul shops resume. New York markets show mixed movements in poultry butter cheese eggs flour and grains with wheat corn and pork futures noting declines and steadying prices.
Cattle and hogs show mixed moves as receipts hit rough totals. Beef cattle steady to lower in London and Liverpool cables, while hogs rise in New York trading. calves and sheep see limited activity with prices easing. Overall market dull for cattle, higher for hogs, and mixed for sheep and lambs with notable regional price spreads.
The Department of Agriculture receives 15 million dollars for the coming fiscal year with major allocations to the forestry service, the bureau of animal industry and the bureau of chemistry. Emphasis will be placed on enforcing the pure food law and combating adulterated goods. A 10 thousand dollar line item funds testing of paper plants to explore new paper sources amid high costs. A 30 thousand dollar provision aims to establishing a permanent bison range near the Pend D Oreille and Jacko rivers on Flathead lands in Montana, with Indian claims paid from the funds.
At a conference with Attorney General Bonaparte Assistant Secretary Winthrop and Internal Revenue Commissioner Capers it was decided to resist efforts to suspend or nullify new internal revenue regulations on marking packages containing spirits. The action would not be extended beyond the district in question and a temporary restraining order would not be complied with.
Charles F. Lutz, after sixteen years in Louisville and Nashville Railway service and since 1951 assistant commander, is named chief examiner in the division of statistics and accounts for the Interstate Commerce Commission. Henry Adams, who led the work since 1887, will retain general supervision over the division.
A terse record lists oil market figures with entries for OL City Pennsylvania and Toledo Ohio. The data include credit balances, runs, averages, shipments, and regional prices for Lima and Indiana areas, reflecting midyear petroleum trading figures.
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