Price Slump Continues As Intermountain Rates Hit Stocks
Large stock declines spread through rail and industrial shares as Intermountain freight-rate reductions sparked selling. Wheat and cotton moves contrasted with railroad earnings, while Union Pacific and Southern Pacific fell on the rate decision. Reading and Southern Pacific showed May gains, Rock Island earnings rose but net fell, signaling lower operating costs ahead. Ginners' Association report places cotton condition at 22 percent by June 25 across states.
MENTIONED IN THIS ARTICLE
Washington Post
New York
Tve
South
Southern
Union Pacific
Wall Street
Washington
Interstate Commerce Commission
Omaha
Rocky Mountains
Pacific Coast
Thean & Heavy
Tess Railway
Southern Pacific
Commission
Financial District
Interstate Commercce Commission
Mississippi River
Sterling Exchange
Reading
Rock Island
Boston closing prices and grain market summary
The report covers June prices in Boston and various futures notes. Wheat No 2 held around 1.06 to 1.07 with July near 1.06, September around 1.05, December about 1.06. Corn No 2 steady near 68 to 69 cents with July at 68 and September at 69. Oats steady with mixed weights. Receipts listed for wheat and corn. Baltimore notes similar nominal ranges for wheat and rye markets.
MENTIONED IN THIS ARTICLE
New Fork
Lot
Stock Break Deepens as Market Hits 1908 Low
The Washington Fest, New York reports a market plunge to the lowest level since late 1908. Stocks fell with railroads down 6.44 and industrials 34.68 on the week, and only Reading United States Steel and Harriman issues trading over 1,000,000 shares. Pennsylvania held above the June low, while Northern Pacific set new records. Across the country, land speculation drives up interest rates, shrinking bank deposits and tightening credit, with Iowa seeing 3 percent funding and autos bought by farmers amid early crop-moving season pressures.
MENTIONED IN THIS ARTICLE
Pectal
New York
Reading
United States
Harriman
Pennsylvania
Northern Pacific
Kensw
Missouri
Nebraska
Iowa
Nornmrel
Auia-Chadmers
Kansac City Southern
Amalgamated Coop
American Agricultural
Louteyiile and
Mahvill
Mackey Companies
cSeels 500
Am, Car and Foundry
jMion
St. Louis
Car St
Man and Tex
GoujAm. H
Mo . Kani
Tex
Val Mational
Awertean
Anaconda Mining Co
Packie Tel
TIM
Atchison
People's Gas
Pitts
St. L
Atlantic Coast Line
Baltimore and Ohio
Cota
Pittsburg
Bethlehem Steel
Boo c
C. C
Southern Pacific
Colorado Fuel and Iron
Southern Railway
Colorado and Southern
Consolidated Gas
Tennessee Copper
Texas and Pacific
Delaware and Hudson
Toledo
Denver and
Rio Grande
Totedy
W. Pra
Union Pacific
En Union
Pacific
Erle
United States Realty
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BEY
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Harvester
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Westinghouse Electric Bom
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Iternational Pumpay
Wheeling and
Lake Eric
Ay Town Central
W. B. Hibbs & Co
Hibbs Duilting
New York Stock Exchange
Chicago Board of Trade
Washington Stock Exchange
Wall Street Quiet After Heavy Trading Day
Market swings with Pogomac Hicotric Consolidated shares at 118 and 1151-2, large blocks traded as sellers move securities to raise funds for improvements. Bank and rail news dominate: consolidation of Bank of Richmond and National Bank of Virginia, Missouri River rate case rehearing, and Louisville and Nashville plan to acquire control of St. Louis Southwestern Cotton Belt route for about 1.5 million.
MENTIONED IN THIS ARTICLE
Washington Securities
Pogomac Hicotric Consolidated Bs
Wang
Columbia Railroad Se
Lanston
American Security and Trust Company
American National Bank
Union Savings
Louisville and Nashville Railroad
St. Louis- Southwestern Railroad Company
Edwin Gould
Cotton Belt
Gould
Louisville and Nashville
Memphis
St. Louis
Washington Produce Market Prices and Exchange Update
Wholesale market quotations show general ease with vegetables rising receipts and easing prices. Virginia eggs at 21 cents. butter values near 29 to 30 cents. poultry and turkeys listed with varied per pound rates. numerous vegetables including potatoes onions cabbages and tomatoes with wide price ranges. green fruits and dressed meats noted alongside money market and bond activity in New York at end of June with steady call money and fluctuating mercantile rates.
MENTIONED IN THIS ARTICLE
Virginia
West End
Tennessee
New York State
New Lacgs
Florida
Jorangea
New York
Prime Mercantile
Sterling Exchange
Bankers’ Dilla
Copper and iron market report from New York and London
The Meta Market column reports copper prices firm in London and New York with July and September legs at 11 9012.26, 12 62% i e electrobuile around 12 59, and iron steady at 85 85 per ton in Cleveland. Local activity quiet with mixed grade prices for foundry irons.
MENTIONED IN THIS ARTICLE
New York
London
Clevelam
Foundry Northern
Southern
UES
New York Cotton Sees Sharp Start with Net Rise
The New York cotton market opened with a sharp advance and closed with a net gain of 19 7/16 points amid irregular fluctuations. Southern spot markets showed declines to gains. Traders circulated rumors of an end-season corner as old crop shorts spurred talk of stronger demand for spot supplies. A local canvass found 68 traders estimating a government report on conditions at 83.1 percent versus 82 percent last month. Highest estimate reached 8 cents with low at 81 cents.
MENTIONED IN THIS ARTICLE
KE. F. Caverly
E. F. Hutton & Co
Chicago
Hig
Ues
el Tubpsaslen
New York Stock Exchange
Columbia National Bank
BBR
F Streat North
Des
New York
Élandy
Live Stock Markets Across Cities Report Mixed Results
In New York cattle and calf markets show varied results with steady to lower receipts and mixed prices for beef and veal. Sheep and lamb values hover with lambs rising, while hogs ease. Chicago reports firm cattle with steady hogs and mixed sheep and lamb prices amid sizable receipts.
Strike Against Own Scale at Wheeling Plant
Workers at the Whittaker Glessner steel plant in Wheeling West Virginia struck against the new wage scale approved by their union council. The contract included a check off requiring the company to deduct 10 percent for union dues, making membership compulsory. The plant's workers, all union members, objected to mandatory dues payment and walked out.
MENTIONED IN THIS ARTICLE
Washington Post
Wheeling
W. Va
Whittaker-Glessner Steel
Whittaker-Glessner Company
Amalgamated Association
Woman Held in Morgans Death in Burrsville Maryland
Arlington Morgan, 32, farmer of Burrsville near Denton, Md., was shot by his wife Minnie Morgan and died shortly after. Police say he returned home from work, knocked her down, and kicked her as she lay. Minnie Morgan, mother of three, is under arrest on charges of killing him with a pistol.
MENTIONED IN THIS ARTICLE
Denton
Arlington Morgan
Burrsville
Here
Minnie ‘Morgan
Preparing Sugar Trust Case Under Sherman Act
The government plans to file against the sugar trust under the Sherman antitrust law, with several weeks expected before suit. Attorney General Wickersham is in talks with District Attorney Wins, in whose district the proceedings will likely be brought in New York.
MENTIONED IN THIS ARTICLE
Wickersham
Wins
New York
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