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Newspaper
Washington Post
Location
Washington, Washington Dc, United States of America
Date
Jul 26, 1916
Page
11
New York July 25 trading day shows United States Steel as market pivot with earnings surpassing forecasts at 9 136 048 and a 1 percent extra dividend. Industrials and rails fell on labor and British politics while late session short covering offered minor relief.
A fragmented report outlines global financial undercurrents in New Jersey and Winnipeg tied to Canadian securities refinancing plans. Mentions Imperial Bank mobilization and expected large fund reallocations across Nova Scotia Quebec Ontario and Toronto with rising market activity and investor attention.
New York authorities reported to Cleveland show John D Rockefeller's wealth exceeds 1.1 billion dollars, far surpassing Carnegie and others. Estimates vary with market changes, yet Rockefeller’s income outpaces peers, while Carnegie plans philanthropy and residence changes alongside yachting.
The market reports ongoing stock sales with bids for C and P and Washington Gas. Trades show $2,900 at 104 percent and $2,000 at 10434, plus smaller lots at 75. National Bank of Washington shows two blocks of 10 shares at 220 each.
United States Treasury reports as of July 24, 1916 the general fund deficit of 8,977,244 last year and current year, with total assets and liabilities in the general fund including gold and silver holdings, bank notes, coin, bullion and other items. Revenue and disbursement figures are listed for the month and year to date.
New York market notes show Butter firm with steady receipts at 19,122 and creamery grades ranging from 27 to 30 cents. Cheese firm with 4,19 receipts and fresh specials about 15 to 16 cents. Poultry prices mixed with alive broilers 20 to 23 and dressed broilers 22 to 31. Sugar raw 6.33 cents, refined unchanged. Wheat and flour details sparse. pork and lard steady with hogs 12.85 to 12.96 for middle West markets.
New York July 23 copper steady at 24.00 spot, electrolytic 24.00 with slight changes. Metal Exchange quiet with spot copper at 37.597 and futures prices at 98. Futures for spot tin hold around 165 with minor movement. Market notes indicate little change across metals as buyers await direction from exchanges.
New York July 25 Cottonseed oil prices listed for Prima crude and Prime white with various contracts including July August September October November December and February. Figures show nominal bids and steady adjustments across futures months amid typical market activity.
A crop scare spurred cotton prices higher in New York trading with 15 to 16 point gains as heavy covering and outside buying surged. Market talk of a Southern crop reporting authority hinting at minor conditions near 76 prompted speculation ahead of month end government and private reports. Futures posted mixed highs and closes amid thin credit balances and shipping figures.
Wheat touched high levels earlier but ended lower as weather improved in rust regions and price gains stalled. September wheat at 1.19 1/2 and December at 1.23, with corn and oats showing modest changes and cash grain quotes listed for various grades.
New York money market clears with steady demand and varied bills. Sterling 60 day bills 4.71 percent while cables quote 4.767 18. Francs demand 5.99 percent. Marks demand 72 percent. Mexican dollar rates show 48. Tenders and loans steady. closing bid at two percent.
Local financial notes show little market activity across public titles as valuations diverge between the public commissions appraisals and corporate capitalizations. A few odd lots traded in Washington and Bethlehem, with Chesapeake and Potomac Telephone stock at 1412 and a large block at 6a sold at 1412, while bond demand waned and prices held firm.
Market list of poultry cheese butter eggs vegetables and fruits with prices for hens turkeys chickens and other items. Includes potatoes corn peppers cucumbers spinach beets beans tomatoes cabbages celery lettuce mushrooms Florida and California fruits and other produce priced per basket crate or dozen.
Baltimore market report lists oats with prices for white varieties and quality notes, along with poultry names and weights for live chickens ducks and pigeons. Butter prices span creamery grades from fancy to store packed, with prints blocks and rolls. Egg prices cover Maryland Pennsylvania Western firsts and regional grades.
Philadelphia markets report steady to firm pricing across butter eggs cheese and wheat with corn and oats quiet but steady. Hog and sheep figures appear mixed with dressed hogs rising and lambs range bound amid thin activity in mid July trading.
J T Schamel, 43, of 935 Virginia Ave SW, was overcome by ammonia fumes from a burst cylinder head in the Old Dutch Market basement. A pulmotor revived him after responders from three engines, a truck, and ambulances battled ammonia exposure. He was taken to Emergency Hospital, conciencia returned after treatment.
United States Steel Corporation posts total earnings of 1 126 948 000 and net income of 71 869 022 for the second quarter of 1916. A 1 per cent extra dividend on common stock is issued, with regular dividends of 14 per cent on preferred and common shares. Unfilled orders total 109 640 455 tons as plants operate at maximum capacity amid wartime demand.
The Senate approved an army bill amendment prohibiting officers, soldiers, and employees from using government passenger vehicles for private purposes and subjecting violators to court-martial. It requires all future vehicles to be clearly marked War Department for official use only with three inch letters.
A Mexico City dispatch reports revival in the sugar district around Morelos with five large cane mills and sugar refineries repaired and ready for this year’s crop. The capital also notes revival in the Department of Communications and the post office restoring mail delivery with motorcycles and trucks.
New York and Chicago livestock markets show receipts across species with mixed demand. Hogs and sheep steady to weak. calves and veal hold firmer, cattle receipts moderate. prices for hogs range near 9 to 10 dollars, lambs around 10.50, and cattle of various types trading with narrow swings.
A new parcel post convention between the United States and China takes effect August 1, allowing packages up to 11 pounds to be mailed from any U.S. post office to any Chinese port at 12 cents per pound or fraction. Previously only merchandise samples up to 2 pounds could be sent to limited Chinese cities, with other rules noted in the old rate book.
Little Rock Ark July 25 Gov George W Jiags pardoned Hezekiah Porter colored for manslaughter term begun in 1903 Porter had escaped drowning at the Krate pen farm Carmina six weeks earlier when the post he sat in toppled Porter saved the governor from the water after the collapse of a bridge boat or platform and the governor later granted clemency based on the rescue and Porter’s conduct.
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