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Newspaper
Washington Post
Location
Washington, Washington Dc, United States of America
Date
Mar 03, 1917
Page
12
New York traders push U S Steel higher as war shares regain ground on Washington armament measures. Leading issues gain 2 to 4 points with copper, zinc, and shipping stocks lifting. Lorillard weakens. Russian and British bonds fall as ruble and pound decline.
New York dispatch reports Southern Railway Company January earnings showing gross 4 764 000 and net 2 024 136 up sharply from 1916. Seven month totals rise, with gross gain of 6 043 686 and net 2 564 590. Reynolds Tobacco doubles common stock to 5 million and 10 million total. Huntington named Virginia Railway president. Kerwin VP operations. Berlingett named general manager. In January and February 1916 total new incorporations reach 350 509 000, led by Delaware, New York, and Pennsylvania with large Eastern-state activity and a 2 000 000 charter for Commercial Acid Company of Illinois.
Local stock exchange closing bids list regular call at noon. Capital Traction bonds and Washington Railway and Electric preferred stock show various bids and odd lots. District National Bank notes and Washington Gas offerings appear with prices and par values.
Chicago grain prices surged with corn reaching record highs near 1.05 to 1.08 per bushel for May and July futures, aided by European buying and hog prices. Wheat, oats, and barley also posted gains while cash grain quotes showed several No. 2 yellow and white oats trading firm. In New York, cotton leapt on robust demand for spots and aggressive covering, May futures climbing to about 17.21 cents and the day closing higher across the board.
Live stock prices and receipts for hogs cattle and sheep from Chicago on March 2 and brief market notes from New York. Hogs receipts 17 000 higher sixe. cattle receipts 2000 steady. sheep 6000 steady. Copper and tin prices firm in New York and London. copper futures quoted. tin and electrolytic copper notes.
Local market lists poultry and farm products with prices for hens and turkeys, Cheesh New York State, butter, eggs, and nearby vegetables. Items include potatoes, onions, peppers, cucumbers, tomatoes, cabbage, and fruit like oranges, lemons, apples, and pineapples with varied per unit and crate rates.
Baltimore notes firm wheat and dull corn while oats rise. Prices for poultry ducks and geese vary by type and weight. Butter, eggs, cheese, sugar and flour show mixed firmness. New York market reports include mercantile paper rates and money market quotes.
Brokers reported light activity on the exchange as public interest shifted to the upcoming inauguration. Trading showed little change in prices with Capital Traction and Washington Railway and Electric notes trading near recent levels. District National Bank stock rose to 143 while bonds were generally weak and buyers steadied at small fractions below spot.
Kentucky Representative James R Mann argued that a provision to turn over 235 750 to the Federal Treasury would affect the District fund. The bill assigns one half of 235 750 to the District and the rest from unappropriated Treasury funds. No change was made to District items totaling 330 720.
London reports an attempt to secure adjournment of cases for the Kankakee, Hocking and Genesea in prize court after loss of defense documents in the Laconia affair. The crown asserts German ownership through Hugo Barnes and claims American-flag vessels were secretly German assets, with delays viewed as fraud concealment.
Jeremiah Lynch files suit in the District Supreme Court seeking 10000 for the loss of several teeth and other injuries after being struck by a Washington Railway and Electric Co. automobile truck on December 20 while crossing North Capitol at Rest between I and Katresia. Attorneys are Wilton J. Lambert and Rudolph H. Yeatman.
Philadelphia markets show butter firm with nearby firsts and firmer creamed cheese at New York full cream. wheat, corn, and oats hold firm. Credit balance totals at 3.05 and shipments for March 1 reach 14,733 as of Oil City Pennsylvania report.
A distressed OCR fragment lists bids and prices for numerous stocks and financial entities. Entries include Capital Traction at 88, Washington Utilities at 30, Washington Gas at 53, Mergenthaler at 165, Riggs Nat Bank at 540, and other banks and companies with quoted prices or bids. The text signals a buying inquiry and pricing for multiple securities and an implied purchase intent.
New York price list shows prime crude cottonseed oil at 11.47 nominal with several futures and spot figures from March through October. Washington cattle market notes hog prices around 12.50 to 13.00, assorted weights, plus sheep and veal calf figures and spring lambs bids.
Wheat shows strength with No 2 hard at 2.14, No 1 northern TDuluth at 2.223, No 1 northern Manitoba at 2.18 from New York. Corn spot strong No 2 yellow at 128 cents in New York. Oats spot steady.
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