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Newspaper
Washington Post
Location
Washington, Washington Dc, United States of America
Date
Mar 06, 1908
Page
2
The market shows firmer undertone with commercial mercantile and manufacturing firms mending nationwide. Price levels rose into trading with Bank of England easing and hopes for lower rates supporting equities. gains broad across leaders like Northern and regional issues, with cautious optimism on the year’s outlook and continued demand despite late-session fluctuations.
The Standard Oil lubricating department sees improving demand, led by railroads and industrials, with Butte mining a partial driver. Bears falter as a rebound chews through stagnation while stocks and bonds show limited trading, with Union Pacific rumors and a looming financing plan stirring cautious optimism among traders.
Yesterday the market displayed firm traction in many issues while Lanston Gay and bank stocks lagged. BoE rate cut news spurred gains in New York and boosted local prices. Washington Railway and Electric transfers to Washington on June 1 and registrar change by American Security and Trust Company are expected, with brokers boosting bids and near term reports anticipated.
Washington Railway and Electric preferred at 14 in blocks under fifty. common unlinked. Capital Traction small deals 119 to 119 1/2, not influential. Regular sales: Capital Traction 12, 3509 at 109 1/2, 21000 at 1G. Sterling exchange firm with bankers’ bills around 4.84 to 4.86 for demand, 3% to 6 months notes. Government bonds irregular amid mercantile activity.
Oil City market brief shows credit balances and price references with scattered figures. Noted entries include running totals and regional mentions across Ohio, Indiana, and nearby areas. Names are fragmentary, with oil quotations and balances cited in terse form.
Washington Produce Market reports wholesale quotations for eggs butter and poultry. Prices show moderate egg receipts, strong butter demand, and firm live poultry with hens, chickens, and ducks in steady demand. vegetables and fruits list varied prices by item and grade across the region including Virginia North Carolina Maryland and California origins.
Experienced agents wanted to represent a preferred company with a world wide reputation. No line of business is beyond a man of character and enterprise. George C. Jordan, Washington Manager, bond Building.
Southern crops and grains show mixed futures with No 2 white and yellow corn, steamer and mixed corn, and April figures. Butter, cheese, sugar, flour, and beef show firm or steady trends. New York produce lists dairy, poultry, coffee, and freight prices. receipts noted for hay, flour, and pork with steady to unchanged markets overall. Continuous receipts include Western exports, Gulf and domestic markets, and transport trade details.
Wheat futures softened after mid day as export and milling trade activity cooled. Spot prices for No 2 red and No 1 Northern fell while a weaker tone spread through corn and fats markets with minimal demand.
Wheat May held near yesterday's quotes after brief declines amid profit taking and shorts covering. Corn and oats moved higher on unsettled weather and firm cash bids, while provisions rose on buying by shorts. receipts and shipments from Argentina influenced sentiment, with local and primary markets reporting varied activity and prices across wheat corn oats and lard ribs.
The cotton market stayed quiet with irregular fluctuations. Opened steady, earlier gains faded under liquidation. months near parity to lower while nearby prices weakened. Reported U.S. ginned to March 1 stands at about 10,852,000 bales with 640,000 left to gin. Southern spot market weak with port receipts about 3,700 bales above prior day.
Cattle receipts estimated 6509 head with market strong. Steers in the 420 to 81, cows around 226 to 500. feeders 340 to 450. Hogs receipts about 46000 head with weak to pigs. top buyers paying around 440 to 445, 4.40 to 4.40 per cwt. Sheep and lambs firm for top grades. choice lambs about 7.76 per 100 pounds, extras at 7.85. Calves mixed, few common to fair veals 550 each, Western calves around 4.12 to 4.24 per 100. Sheep offerings lighter with steady prices. lambs average 7.60 to 7.76 per 100 pounds.
Market summary lists cattle values per hundredweight and per carload for cattle hogs sheep and calves. Entries include figures for butcher rates ordinary rates and prime common classifications and prices for cows and lambs across classes with per pound or per cwt measurements.
New York March 5 Mrs Teresa Stein was acquitted today of murdering Frank Gettinger who boarded with her family The verdict followed a trial in which her husband and sixteen year old daughter Louise testified as unwilling witnesses The defense argued Mrs Stein is epileptic and the family greeted the result with cheers and an embrace in the corridor
New York City Railway Company faced dissolution of its charter after Attorney General Jackson argued insolvency before federal receivers were appointed last September. Auditor W H Brown testified that damages from 1903 to 1907 totaled 776 057, with a rising trend each year, driven by congestion faster operation and a new policy of rapid settlements with little delay.
New York March 5 The Pennsylvania Railroad completes the third of four tunnels under the East River linking New York and Long Island City Engineers report the shields from opposite shores met with near perfection Work on the fourth tunnel is well advanced.
Charles T Yoder a stockholder of 160 shares at 25 dollars each petitions the District Supreme Court for the appointment of a receiver to take control of American Home Life Insurance Company. He alleges mismanagement and faulty bookkeeping have tangled affairs and accuses Gilbert W Cave of usurping officials and stockholders rights. The suit names Cave along with James H Clinton and James H Weymira as defendants.
Mexico City reports Charles M Schwab of New York and associates have agreed to purchase the famous Botes mine in Mexico. The deal values the property at 72 million gold units and ranks among the largest mining transactions in Mexico. Schwab’s recent Europe trip was said to relate to this pending purchase.
Berlin in March Deutsche Bank annual report shows a total turnover of 225,730,000,000 dollars, net earnings of 33,710,000,000 dollars, and deposits of 110,000,000,000 dollars. Dividend remains at 12 percent. Increases noted in turnover and deposits, earnings rise.
The UCUnion Bank of Commerce in Rio Janeiro closed its doors today. The bank was the principal depository for locals and held many small accounts, with broader ripple effects feared for other institutions in the city.
Baltimore and Ohio trains depart Union Station on odd hours toward Philadelphia New York and Chicago routes with Pullman and Parlor cars. Services include dining and sleeper cars toward Philadelphia and New York. westward routes connect to Chicago St Louis and beyond with multiple departure times and stops.
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