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Newspaper
Washington Post
Location
Washington, Washington Dc, United States of America
Date
Jul 31, 1907
Page
9
Steel Corporation directors announce quarterly dividends after earnings exceed prior peak by almost four million dollars. Stocks rally in New York trading as market observers note firmer tone and improved demand. The report highlights a steady distribution policy and near term prospects for the steel sector.
The Washington Post reports a dull and uncertain New York bond market with thin volume and narrow trading ranges. Harriman stocks show modest gains amid speculation, while money markets drift and foreign exchange stays pressured by slow cash movements and looming money tightness.
The gas market led yesterday trading with the first sale at 7512 and a quick rise to 7688 after a call. Georgetown Gas stock offered at 10 with 15,000 shares sold, Mer gen no action though bids rose to 20. Lanston 200 shares at A closing at that price. Commercial National Bank bids bought 10 shares at 322 and 1 at 213, up 1 percent. bond and certificate activity mixed. Columbia Ga changed hands at 1061-4. Capitel Traction 69 at 2101-4. Washington Railway and Electric 4 at 31. Cananea Central property work progresses rapidly with good ores increasing. Cananea Copper Co. plans output above 700,000 pounds monthly later this year with reduced costs.
The Washington stock exchange shows a shaky market with varied prices across bonds, rails, gas, and banks. Notable quotes include Washington Railway and Light at 31 000, Commercial Exchange receipts and gold and silver summaries, and copper futures fluctuating amid a cautious trading session.
The Washington produce market shows varied prices across dairy and vegetables with butter and cream rising, farm and factory receipts uneven. Beef, poultry, and seafood terms remain steady while regional crops and fruits fluctuate, with notes on pricing and supply for celery, cabbage, okra, peppers, and tomatoes.
New York price reports show steady and mixed movement across commodities including butter poultry and flour with livestock and grain markets fluctuating. Wheat futures opened weak then firmed amid supply concerns while copper and coffee futures showed varied strength as traders weighed demand outlooks.
A North American grain market summary notes steady openings and mixed futures for corn and wheat. Prices moved with weather, seasonality, and private analyst notes. activity remained cautious as traders awaited more data on cold fronts and export demand.
Philadelphia based major building and contracting company, Maxwel Veeth president, placed under receiver by the Common Pleas Court. The firm has operated extensively in the city and state, securing the Carnegie Building project at Shelly Park Pitt High. Receivership aims to protect contracts and profits, with Wyeth and others to meet obligations while the receiver continues operations without interruption.
New York July 10 The United States Steel Corporation reports for the quarter ended June 30 showing total net earnings of 345 503 705, a new water mark and an increase of 4726 7 over last year. Unfilled orders and construction spending rose, while surplus declined due to extraordinary outlays for new plants and improvements.
Drastic financial legislation is urged to expand the money supply to adequate dimensions. A New York crowd hears Gates lament the current policy and outlines plans involving a Cunard Line voyage and visits to Beauya near Parle. The speech touches on industrial activity, government credit, and the need for money growth to prevent a slowing economy.
Market steady overall with cattle receipts weaker for steers and cows, calve prices steady to higher in parts. Hogs show about 14 000 head with market steady to pressure, best weights 2600 to 70, butcher and packer demand mixed. lamb and sheep receipts around 447 with a generally steady tone.
Dr Alpert C Patterson statistician at the health department and his wife Mrs Nancy W Patterson filed three suits against the Washington Railway and Blectrical Company for personal injuries arising from a collision with a streetcar on Avenue at Northwest. The actions seek 125000 for damages in two suits and 5000 for Mrs Patterson and 10000 for Dr Patterson in another, alleging brain concussion skull fracture and paralysis with permanent injuries. The couple, represented by Henry K Dania, claim they were walking from Dukes to another location when struck by a streetcar moving at an unlawful rate and were left unconscious and severely injured.
The Interstate Commerce Commission ruled in Riverside Mills of Augustana v Southern Railway that cotton waste and byproducts rates from Augusta to New York were excessive. The decision caps sea transport rates at 30 cents per 100 pounds for cotton waste from Augusta to New York and notes discrimination in coal rates involving Georges Creel Basin Coal Company and rail lines Baltimore and Ohio and Western Maryland.
The Treasury Department outlines a new auditing method directed by Secretary Cotelyg Tise. It replaces old practices with a standardized process that compares officers' dilursag offeers and analyzes receipts. The aim is to ensure currency sourcing and proper accounting across branches starting October 1, under the supervision of the treasurer and domestic auditors.
Deputy Comptroller Ve Covay announced that Foix G feman, a Philadelphia real estate operator, offered to buy unsold New York City bonds at private sale. Writings indicate plans to auction 7 million in stock and bonds on August 1, with 5.0 million for major projects including Delancey Street structures and rapid transit.
A telegraphed daily market letter to major papers urges vigorous buying of listed stocks. It promotes Goldfield Consolidated and several other issuers, predicts a sharp market rise, and details margin purchases, stop-loss tactics, and dealer strategies to flood the market with orders.
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