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Newspaper
Washington Post
Location
Washington, Washington Dc, United States of America
Date
Jul 16, 1907
Page
15
Gains show on the Glose report with Wall Street holding a cheerfully higher tone. Indications point to easing money rates as investors tolerate modest profit taking and await clearer policy signals from government and market watchers.
New York bond market chatter centers on Reading, dividend impact, and short covering as investors weigh ex dividend pricing. London buyers, Intersta te Commerce Commission tone, and Amalgamated Copper dynamics shape sentiment while underwriting subscriptions to Union Pacific loom.
Dull summer market opened with Gas stock showing renewed activity as buyers aimed to push prices higher. Trading saw 100 shares net at the letter figure as rounds moved 77 1 4 to 79 with no broad follow through in bonds or other issues. Mc Howard Moran, treasurer of the Home Savings Bank, left for a two week stay in Atlantic City.
Washington market notes mixed closing prices across commodities currencies and bonds. Copper and London markets softened amid offbeat demand while government bonds held steady and spot wheat and flour moved modestly. Local cash grains and eggs showed varied shifts across regions with minor changes in freight and sugar futures.
Grain market summary from New York notes July wheat weak on 50 000 receipts with minor declines and late covering. Corn receipts 19670 with spot steady to mixed prices and options trading subdued. Oats receipts 64000 with spot steady, light movement and quiet activity overall.
Wholesale price quotations for eggs butter cheese and poultry update with regional notes Virginia North Carolina and Southwest Virginia markets showing rising butter prices and steady cheese demand. Fruit and produce values list apples grapes and tomatoes with per box or per hundred weights and noted regional supplies in Florida California and local markets.
July 1 market report from New York lists live poultry prices for Western chickens and fowls, with various weights and counts. Mentions butter prices, creameries, and official prizes amid trading activity.
The cotton market opened steadier on August and July futures with minor gains on some months before cooling. Pearls of activity spread through real estate and trading, with unsettled conditions in Alexandria and hedging by shorts lifting August and new crop positions briefly, then retreating as supply and weather news influenced prices.
A Washington Chamber of Commerce subcommittee meets at American Security and Trust Co offices to choose a site for a new chamber building and secure written options. If a site is selected, a directors meeting and full chamber session may follow to approve stock subscriptions. Committees discuss salaries for federal and municipal employees in DC and ways to boost regional shopping.
At a Des Moines luncheon President Winchell of the Rock Island Railroad announced the Rock Island would end its lobbying and withdraw from politics. General trade manager Jean Sebastian said the railroad would not cut passenger service due to any cent-rate changes and aims to stay in closer touch with business leaders. The company plans no lobby in Des Moines, state capitals, or Washington, signaling a shift to policy neutrality.
Moody's Manual is expanded to cover railway and corporation publications and new securities for 1907. The new issue broadens coverage of steam railroads in the United States and other corporate areas with added and revised reports. The work notes that U S financial investment has reached vast importance affecting all industries and investment conditions. The master cent issue is attractively arranged, thoroughly systematized, and invaluable for ready reference.
Preliminary figures from the Bureau of Statistics show cotton exports up 1509 bales to a value of 83 8498 pounds 0 78887 while breadstuff provisions and oil decline. Cotton shipments reach a new high in volume and value. breadstuffs total 176 029889 fall 132 5 percent. provisions 15 and MT down 1701343. oils and minerals worth 99172 decline.
New York market reports show cattle receipts around 3000 with steady to slow demand. Calves, veal, and sheep trade varies. hogs steady to lower, with mixed weights and prices. Exports expected tomorrow include 900 cattle and 800 quarters dressed beef.
Market notes show lambs and cattle prices with quotes in cents per hundredweight. Hog prices, sheep, lambs, calves and cows listed. figures include range and averages, with oddities in OCR formatting but conveying commodity by the pound or cwt and standard market terms.
New York market column notes Goldfield Consolidated and related issues advancing, with Daisy and Combination Fraction among top gains. Advice focuses on buying lower priced stocks like Diamondfield Black Butte and Goldfield Luck Boys, predicting substantial profits as production drives gold output and investor demand.
French Porto Rico coffee growers meet to discuss Franco American tariff accord and demand amendment to protect the industry. They warn that without changes the island risks hardship and urge action from US and French authorities. A separate report from St Paul notes shipments and market speculation affecting the coffee trade there.
A government tax dispute over Johnson Money a scrip issued by a Cleveland based financial firm has been suspended temporarily as officials review whether the scrip functions as circulating currency and falls under a 10 percent tax. The case involves the State bank circulation and the role of the mayoral scrip adorned notes. Southern Railway announces appointments changes in its accounting department with Kemper promoted to controller and Robinson becoming auditor of freight accounts.
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