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Newspaper
Washington Post
Location
Washington, Washington Dc, United States of America
Date
Mar 18, 1908
Page
2
Market facsimile shows early gains amid hopes for Aldrich bill passage and further legislative action. Amalgamated Copper, B A T, and Steel Strong as traders price in anticipated policy shifts and potential gains across major Steel and railroad issues. Washington Post summaries indicate broad optimism with selective rotations and cautious demand, while some industrials report steady or mixed movement in late trading.
New York reporting mixed commodity prices with US Treasury notes and Boston closing figures. Sterling and foreign exchange show weakness while principal metals including tin copper and zinc quote varied in London and local markets. Bond and iron markets display nominal steadiness amid general price movement.
The Washington market shows weaker prices under liquidation and pressure from easier Southern markets. Cattle, hogs, and produce face broad declines with mixed buying of May and July contracts. Open interest signals cautious sentiment ahead of Friday reports as buyers focus on low grades and tender demand across key regions.
Special to The Washington Post reports a New York market feature focusing on large selling orders said to reflect ultraspeculative operators. Skepticism persists about true cause and potential for further declines or a healthy retracement amid divergent views among traders. Amalgamated Copper and St Paul show notable moves as sentiment flits between bearish and cautious optimism.
In the financial district a few banks show indirect merger interest while deposits rise. Washington Railway and Electric shares moved within 77 to 76 3/4 as traders sold about 10,000 at the lower price. Capital Tracy Bonds rose to 110 3/4 with bids steady at 111 1/4, and Potomac Electric first preference sold near 102 1/2.
New Yorker items note butter receipts 38 644 packages and mixed quality through Western and Southern markets. Dressed poultry steady to firm, pork prices steady to firm, lard refined steady, rice steady, molasses quiet, sugar raw steady, cottonseed oil firm, petroleum steady. Wheat futures turned weak on bear crop news but rallied with corn near close. May 2 10 and July 97 , corn receipts 3 295 bushels exports 73, No 2 elevator spot firm, oats receipts 87 000 mixed, rye dull.
Chicago wheat closed higher with May edging up amid reports of green bug and Hessian fly damage in the Southwest. Corn also rose, oats slipped, and soybeans steadied as market strength flowed from Liverpool and weather expectations. Local receipts and futures activity reflected firming demand and supplies.
An altered ad style passage urges readers to consult a doctor about Ayers non alcoholic Sarsaparilla, nerve tonic and blood purifier. It repeats phrases asking if readers want the product and to ask their doctor, with several misspelled variants and a lingering promotional tone.
Interstate Commerce Commission finds Chesapeake and Ohio Railway officials used transfer slips to grant shipments under through rates to favored shippers at the expense of Seaboard Air Line and Atlantic Coast Line. The scheme deprived legal local rates, with records destroyed, and the matter referred to the Richmond U.S. district attorney for prosecution.
New York on March 17 a large extra outlay caused by new food laws and subdued business last year forced the Corn Products Refining Company to reduce its annual dividend on preferred stock to 3 percent. Directors had habitually paid 1 percent quarterly and 2 percent as an extra yearly dividend. The final annual dividend, declared today, included only a 1 percent extra, totaling 3 percent for the year.
Harrisburg, Pa March 11 Two open hearth furnaces begun in recent days at the Pennsylvania Steel Company with seventy five ton capacity, among the largest in the state. Central Tron and Steel Works reports one blast furnace back in service and two crew hearth furnaces active, while plate mills increase output.
New York March 17 The Oriental Bank depositors who opposed receivership won their point as the Appellate Division of the Supreme Court affirmed Judge O Gorman and dismissed the temporary receivers. The court held the bank solvent and allowed it to honor its agreement with Metropolitan Trust Company to advance funds for depositors and creditors.
Live stock trade shows mixed demand with beef slow and calves weak while sheep and lambs rise slightly. Chicago cattle receipts near 3,000 with steers around 4.6 to 4.2 and hogs steady to higher. sheep and lambs strong, lambs around 7.00 to 8.00, and overall market firmer in parts.
Baltimore wholesale market report shows dull wheat with steady corn and oats, mixed brands of white and southern corn, and firm butter with imitation and creamery varieties. Receipts include 53,687 bushels of corn and 7,093 barrels of rye, while hay remains steady and grain freights are unchanged. The piece ends with an ad directing readers to O'Donnell's Pharmacy locations for notices.
Philadelphia news reports Reading Railway Company found guilty in U S court of three infractions requiring automatic couplers on freight cars. Judge McPherson imposes 100 dollars per offense. A similar suit against Lehigh Valley Railroad was slated for trial, with five additional railroad cases pending at the term. Pennsylvania Railroad also a defendant in one suit.
United States District Attorney C C Houpt filed complaints in nine suits against the Great Northern Railway for alleged violations of the federal rule that cattle in transit must have food water or rest within 36 hours. Twenty two violations are cited in the complaints with potential fines totaling 11000 if all offenses are proven.
Page lists assets and liabilities for the United States Branch of a Liverpool company. Items include cash in bank and on hand, mortgages, stocks and bonds, premiums uncollected, rents, and other assets. Liabilities show net unpaid claims, required reserves, and policy-related values. Names Paul Morton and Wm Alexander appear as signatories, with notarization in New York City dated February 1968.
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