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Newspaper
Washington Post
Location
Washington, Washington Dc, United States of America
Date
Mar 04, 1908
Page
2
Midday on the New York stock exchange shows a cautious, uneven session with limited gains for some industrials while bear pressure returns in the afternoon. Investors await impact of the Hepburn bill and assess prospects for rail and steel shares as analysts note underlying strength in several major issues.
Sentiment on the local Stock Exchange yesterday was bullish with notable activity in bonds. Chesapeake and Potomac Telephone 6s held firm at 102 bid, and Capital Traction seats showed strong demand. gas shares weakened early. Washington Railway and Electric preferred led railways, as 4s and 5s trades appeared alongside modest sales in Mergenthaler, American National Bank, Union Trust, and Lausson. Discussions of amalgamating uptown banks persist without definite results. Col W C Greene announced the Cananea Company will resume late April or early May, with ore developments at Cananea Central and Cananea Duluth slated to cut copper costs. Bank presidents Stevens and Smith returned to Washington and New York, noting quiet business locally and mixed continental activity.
A notice indicates Curb Market received a bid or listing from W. H. R. Wibbs and Co bankers and the York Stock Exchange with ties to Chicago Board of Trade activities and related markets.
The London tin market was unchanged to fractionally lower with spot at 187 10g and dull local demand around 29.25 to 30.25. Copper quotes fell in London to 156 Tow spot and 47 bn future, with weak local activity and limited supply reductions. Lead drifted lower in London to 18 1286, with dull local levels near 1.65 to 2.75. Spelter unchanged at 21 in London as trading showed little strength and foundry and miscellaneous price lines varied across regions.
Money rates steady with 2 percent for sixty days and four percent for longer spans. Prime commercial paper at BB percent. Sterling exchange steady around 4.86 to 4.87 dollars per pound. Bar silver and Mexican dollars noted. Government and railroad bonds traded heavy.
Wholesale notes from Washington market show heavy egg receipts and a quiet rhythm while butter remains in short supply and firm. Poultry prices vary by type with moderate demand, and vegetables and fruits list broad ranges for crates and barrels across multiple regional items.
The page shows mixed animal market quotes for cattle hogs sheep lambs calves and cows with terms like per ent per pound and per weight. Entries include numerous figures such as 4.7565.00 4.000450 2.¢1 3.00 4.2564.50 3.5098.75 1 7% 67 40.60 66.d and 20.00 20.00. These items reflect varying grades and weights in an auction style market listing.
New York reports show alive firm on fowls and higher tendencies though official quotes unsettled. Crested quist and Philadelphia spring chickens listed with modest gains, turkeys and eggs mixed, while cheese and flour receipts indicate firm or unchanged trends amid steady to higher meat prices. Chicago and Baltimore grain futures rise as wheat and corn firm on demand. oats and rye steady, with hog futures buoyed by packer purchases.
New York reports stronger wheat and corn prices amid bullish Northwest conditions. No. 2 red wheat at 1.05 fob and No. 2 white corn around 4% above prior, with activity from commission houses and shorts covering. Additional cattle, beef and veal notes show steady to weak demand. Berwick’s American Car and Foundry plant resumes operations, restoring 4,000 jobs after a two week shutdown.
In New York trading on a brisk morning, ticker room shouts signal rising prices as Hepburns tax proposal looms. Analysts compare London commissions and note potential shifts of business, while Attor ney General Bonaparte denies dividend restraints and stocks like National Lead United States Steel and Great Northern move on volatile chatter and improving trade outlook.
Experienced agents testify it is easier to write life insurance today with 38 top quality policies issued by the Equitable Life of New York. The company’s financial strength reliability and promptness earn world wide reputation. George C. Jordan Washington Manager invites capable men to represent this liberal and prompt line of business.
At an adjourned Illinois Central meeting Harriman defeated Fish and Fish’s proxies. Fish blocked a $41,000,000 bond issue while Harriman gained control and named J Ogden Armour to succeed Wish. Directors elected were Harriman Astor Titus Hackstaff with Tuug retiring for Armour. Protests over proxy votes and stock held by Railroad Securities and Union Pacific were noted.
Butte Montana March 3 Work at the Amalgamated North Units and Coalition mines resumed with about 30 percent of normal force. Saturday’s shift employed 540 men and plans call for up to 5800 more workers in a few days. The North Butte Company added 250 men and Red Metals expected 720 more by week’s end.
The government resumes action against Standard Oil in Cleveland on March 11 with testimony on competitive methods. Former District Attorney Morrison and Special Counsel Graves lead the case, while Frank Kel lage, chief criminal, travels to California for rest. Some testimony may occur later in Chicago or St. Louis, but the government largely rests its case.
Revenue figures for the Republic of Panama show increases in several import categories for 1907 1908 and beyond, despite merchants claiming trade losses from Canal Commission policies. Import duties rose in liquor tobacco salt matches and coffee with total duty collections at 2 489 301 in 1907. The Isthmian Canal Commission is pushing furniture supplies to the Isthmus entering contracts worth over 12 000 for dining room equipment.
New York March cotton closed quiet with a modest net gain for May while other months softened. Trading opened steady and slipped as the session wore on, with demand from bulls and short-covering lifting May briefly before prices eased. Volume was around 150000 bales as traders awaited weekend figures and near positions showed activity amid bullish Southern notes.
An article by Richard H. Wood argues against widespread tuberculin testing, contending limited knowledge and safety concerns. It questions disease prevalence, warns of possible spread, and calls for cautious, targeted testing with emphasis on veterinary diagnosis and public health safeguards.
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