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Newspaper
Washington Post
Location
Washington, Washington Dc, United States of America
Date
Jun 11, 1910
Page
2
An active week sees copper shares slide as wheat and cotton weaken. The market closes 1 to 2 points down with broad declines led by Amalgamated Copper. Exports for May show weak signals while a New York bank statement is anticipated.
June 10 report notes money on call at 29, ruling rate 21, closing bid at 8 percent offered at 9 per cent. Time loans steady near 8.5, prime mercantile 9. Commodities show wheat quiet, corn firm at 62 1/4, oats steady at 44 1/2 to 49 1/4, rye dull at 82 83. Government and railroad bonds listed as steady or irregular.
A June New York market report notes Alton common and other railroad shares dropping to low levels amid doubts about upcoming dividend declarations. It highlights Major railroads Lovett and McCrea avoiding public comment, $45 million and $3.4 million bond movements, a Harriman locomotive order, export declines in May, and Amalgamated Copper slipping to a new low with a 3.2 percent yield, reflecting mixed investor appetite for dividend stocks.
Eldridge Jordan sold 1.50 shares of Merchants and Mechanics Savings Bank to a director syndicate at 16 a share, totaling 247500 dollars, the second largest transfer in Washington history. The buyers include A. D. Pringe, O. B. Zantzinger, Michael G. McCormick, Emanuel Spelch, Charles W. Carr, Julius I. Peyser, and George R. Linking. Jordan and friends retain control, with no change in officers or directors. He and allies also purchased 23000 dollars of Commercial National Bank stock yesterday. The market broadly rose with Merghenthaler and rail stocks advancing, while New River Power Co. forms in Virginia with 6 million dollar plan. The National Bank of Mexico declares 20 dollar dividend per share for 1909, with 15 dollars on each share to founders’ bonds and 2000000 to reserve.
Wholesale market notes indicate easier overall demand this week with steadier poultry and rising vegetable grain notes. Prices are given for eggs butter cheese poultry and meats, listing varieties and per unit costs across Virginia Tennessee New York Florida and other regions, with cattle hogs lambs calves and greens.
Receipts across cattle, calves, hogs, sheep and lambs show steady to strong markets. New York reports practical highs for steers, cows and veals, with exports anticipated tomorrow. Chicago totals mirror brisk demand with mixed to firm ranges across all categories.
The Dun and Bradstreet weekly review reports improved trade prospects with better crop outlooks for wheat and cotton, steady export of print goods, and rising domestic demand. Rail freight rate compromise boosts sentiment, with stronger Western activity, ongoing large steel orders, and cautious textile production, while copper and iron markets show mixed movement and prices soften on iron.
New York markets show butter steady with unchanged receipts and varied items such as eggs poultry and lard. Cotton futures hover near last week’s highs while wheat and corn slips occur on crop news with Minnesota and Texas factors cited. A separate note from Chicago mentions a squeeze in July wheat delivery being put out of business for now, with mixed grain futures and provisions down slightly. Public garage hearings set for June 17 at 1 pm by city commissioners.
A bank can be a valuable asset to a businessman by shaping credit, offering prudent counsel, and solving problems. The piece promotes a perfectly equipped institution with officers and directors of proven business ability and integrity, in seeking commercial accounts.
Eldridge E. Jordan serves as President with Michael G. McCormick as Vice President and Julius I. Peyser as 2d Vice President. J Fendall Cain is Cashier, H Owen Thompson Assistant Cashier. WM C Worthington and Irvin Owings hold managerial and assistant manager posts at Seventh Street and West End branches. Directors include William A. Gordon Thomas P. Hickman George R. Linkins Julius Ti Peyser Lester B. Platt A D Prince B J Smith Emanuel Speich James Strayer Charles J. Walker Henry L. West Benjamin Woodreft CM Walt and co B Zantzinger.
Officially designated de provides travelers with cheques of the American Express Company drafts and letters of credit usable worldwide for funding trips abroad. The notice promotes available financial instruments to support international travel and outlines accessibility through designated channels.
Post includes offer of 5 percent interest on all savings accounts with semiannual compounding. Noting special banking hours on Saturday nights from 6 to 9 p m for depositors, as stated amid a bankruptcy context.
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