Berlin Again Bids for Cash in New York Loans
U S offers 614 percent for 60 and 80 day loans as Berlin revisits cash bids in New York. Copper stocks show a first time decline since August amid uncertain support, sending prices down on the market.
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Newspaper
Washington Post
Location
Washington, Washington Dc, United States of America
Date
Mar 08, 1913
Page
8
U S offers 614 percent for 60 and 80 day loans as Berlin revisits cash bids in New York. Copper stocks show a first time decline since August amid uncertain support, sending prices down on the market.
Wall Street reports record January earnings for Atchison, Baltimore and Ohio and Northern Pacific. St Paul shows largest gross and net gains versus prior years, while copper, gold export, and Germany loan news shape market tone amid weaker bank reserves and lower copper stock. Stocks drift, with some declines and heavy bond movement hinted.
Money on call firmer at 2 3?4 percent with ruling rate 3 1/2 percent. Time loans strong at 4 1/2 to 5 percent for ninety days and six months. Mercantile paper bid 6 1/2 percent. Sterling exchange steady with bankers bills at 4.8365 for sixty day and 4.8795 for demand. Commercial papers 4.82 percent. Bar silver 68 cents. Mexican dollars 48 cents. Government bonds steady while railroad bonds show heaviness.
New York copper prices ranged up and down with spot to June at 14.50 to 14.75, electrolytic 16.00 to 15.12, lake 13.25 to 15.37, and castings 14.79 to 14.87. Arrivals totaled 25 tons, exports 10,216 tons this month. London copper was easy with spot 65 pounds 0s 0d and futures 65 10s 3d. TRON-Barely steady, No 1 Southern 18.0 to 18.25, Cleveland warrants 63 3¢ in London.
The market yesterday showed narrow activity aside from bond totals near fifty thousand dollars in Washington Railway and Electric and Georgetown Gas. Public utilities gained some support while trading stayed quiet amid legal and legislative uncertainties, with limited transactions across banks, rail shares, and insurance issues and no broad price declines visible.
Statement of condition dated December 6 1912 for the Girard Fire and Marine Insurance Co of Philadelphia shows total assets 2 552 904 70 and total liabilities 2 552 904 70. Key figures include cash in office 7 822 53 real estate mortgages first lien and market value of stocks and bonds plus premiums uncollected 133 719 55 and interest due 37 842 98. Officers Henry M Gratz president T Magill Patterson assistant secretary certify the balance sheet as of January 30 1913 with notary Joseph K Nicholls attesting.
New York reports the United States sold manufactured goods to South American countries worth about 115.5 million dollars in the year ending June 30 191%. The rise reflects broader foreign trade gains led by high wage efficiency and bank and sales networks, with Argentina Brazil and Chile accounting for major shares and Panama Canal opening seen as a further boost.
Statement of the condition as of December 31 191 a shows capital stock of 2 000 000 60 paid in cash 2 090 000 00 cash on hand 5 073 16 in bank 1 704 056 76 real estate mortgage stocks and bonds market value bills receivable premiums uncollected and in hands of agents interest due and accrued all other assets Notes uncertainty in figures and punctuation indicate OCR issues in the source.
Maryland and Pennsylvania markets show mixed grain prices with firm wheat and corn, steady oats, inactive rye, and varied poultry values. The report lists live and dressed turkeys, chickens, ducks, geese, capons, eggs, and butter with numerous price ranges across Western Southern Kent Island and regional franchises.
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