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Newspaper
Washington Post
Location
Washington, Washington Dc, United States of America
Date
Jun 11, 1908
Page
17
Washington Post reports a late day surge in metal stocks and overall stock activity. Trading closed with modest gains despite volatility in copper and related metals. Investors showed cautious optimism, but volume barely topped the previous session.
The Bankers' Association of the District of Columbia will hold its adjourned annual meeting at Rauscher's on Tuesday evening June 23 at 8 o'clock. William A. Mearns, secretary, sent delft fan inscriptions to members. the notice highlights Mearns' creative touch and the association's long standing traditions. Generous offers lift Bell Telephone of Pennsylvania shares while trading activity grows in Washington Railway and Electric and other issues show mixed interest amid rumors and steady holdings.
Trading floors show firmer wheat and steady prices in corn and oats while government and railroad bonds hold steady. Wheat up as spot and contract prices rise. grain receipts large in the South. butter cheese and sugar mostly unchanged amid broad market steadiness across exchanges.
The London tin market climbed with spot at £128 13s and futures at £129 in. Copper strengthened with spot near £58 and futures around £58 18 9d. Local prices in the United States remained mixed with premium metals and eggs, butter, and poultry largely steady or higher. wheat and other crops showed volatility in Chicago trading.
Notes from New York on June 10 describe a steady to higher day for cotton with a 1 3 4 percent net gain as traders weigh better spot demand against selling by large operators. Prices advanced in near months while July stayed quiet, amid concerns of Red River levee disruptions and wet Southwest weather influencing bullish chatter.
New York June 10 report notes mixed early gains as United States Steel recovers part of prior price reductions and others slip into dull trading. Investors weigh whether further steel price cuts will boost orders, while bond markets show stronger activity than equities. Union Pacific and copper holdings draw attention amid broad market volatility.
Historical market summary notes cattle, hogs, sheep and lamb prices with mixed activity. Includes New York whey and flour details and grain futures, with wheat port receipts and price shifts influenced by weather forecasts and demand.
New bills rushed into circulation under the Aldrich Vreeland act with Beaver City Utah's First National Bank receiving a five dollar note. The Bureau of Engraving and Printing reports rapid plate changes and an initial daily print rate of four million dollars to meet emergency demands and help move crops.
The Iron Trade Review will say that steel manufacturers reduced prices for billets sheet bars plates structural shapes merchant pins and wire pails in response to steel bar concessions. The action is welcomed as demand may improve with better crop prospects and finances. Contracting for steel bars followed the price cut.
Philadelphia June 10 The Reading company directors reorganized by re-electing officers They declare a semiannual 2 percent dividend on common stock and 2 percent on first preferred stock A 2 percent semiannual dividend on the second preferred stock payable May 10 1908 to stockholders of record April 24 1909 President Murray of the B and C made director of subsidiary companies.
London reports Russia has been quietly accumulating 1 to 5 million pounds in gold over months and is now shipping it to St Petersburg. Agents bought small parcels weekly to restore reserves released during American demand pressures. Some gold tied to Germany appears mischaracterized.
Live stock market summary with June 10 quotations and receipts. Cattle and calves show varied demand and price ranges across steers bulls cows and heifers. Hog and lamb markets activity described with regional comparisons and noted shifts in prices and readiness.
The directors of the Western Union Telegraph Company today declared a quarterly dividend of one half percent, payable in cash. The dividend for the last quarter was at the rate of one percent per annum, payable in stock.
Hudson D. Brusie, a San Francisco attorney, playwright, and politician, died in California Hospital after being released on $15,000 bail on an embezzlement charge filed by Metropolitan Surety Company of New York. The fatal attack came after his arrest and ensuing nervous prostration.
Harrisburg June 30 Frank Irvine former traveling auditor in the auditor general department was severed from four other capitol conspiracy defendants and moved to the State Hospital for the Insane at Norristown. Irvine broke down mentally during the third week of the trial.
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