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Newspaper
Washington Post
Location
Washington, Washington Dc, United States of America
Date
Mar 18, 1908
Page
39
Reports from Washington that Aldrich bill will pass and Congress will enact other measures buoy stocks. Amalgamated Copper and United States Steel rise amid broad gains as traders digest news on tariffs and policy. Market shows brisk trading with mixed activity toward the close and notable strength in industrials.
New York money on call offered at 2% with bid 2% and others 2% to 3% across maturities. Sterling exchange weak with bankers' bills at 4.858 to 4.933 for demand and 4.334 to 4.630 for sixty days. Copper, tin, and zinc markets worldwide show London activity. local markets are quiet to steady with ranges in foundry metals. Iron market in English and local U.S. shows modest firmness and specific price ranges for No 1 and No 2 foundry northern and southern grades.
The Washington market shows weaker tone with prices sliding amid liquidation and southern market softness. Reports indicate open interest down with May and July contracts attracting some buying while margins persist. commodities including eggs butter and poultry show varied demand and prices, while vegetables and fruits list steady to weak figures across regions.
A Washington Post report from New York on March 17 surveys a day of large selling by a house tied to ultraspeculative operators. Some say it masked true distribution by powerful capitalists, while others doubt a lasting decline and see potential for a healthy pullback.
The financial district reports increased deposits citywide with lower New York rates looming over local lending. Trading at the Exchange featured Washington Railway and Electric stock fluctuating around 77 to 76 3 4 with about 10,000 in volume, while Capital Tracy Bonds rose to 110 3 4 and offerings held firm at 111 1 4.
The New Yorker reports varied commodity pricing for butter, flour, poultry, meats, and grains. Receipts and exports for rye flour, corn meal, and rice show steady to dull movements amid bear crop fears and seasonal adjustments, with May and July futures navigating mixed demand and ongoing market volatility.
Wheat closed higher as riverpool prices rose with reports of damage from the green bug and Hessian fly in the Southwest. Corn advanced on favorable Liverpool market signals and weather forecasts, oats firm on demand from buyers, and later revisions showed receipts and futures activity shaping a stronger close across wheat, corn, and oats.
Fragmentary ad style text urges readers to consult doctors about Ayers non alcoholic Sarsaparilla and related tonics, tone mimicking old newspaper medical pitches with repeated prompts and misspellings.
The Interstate Commerce Commission finds fraudulent transfer slips used to grant lower than local rates to certain shippers, harming Seaboard Air Line and Atlantic Coast Line. The ICC urges prosecutions in Richmond, naming Chesapeake and Ohio officials and involved shippers. Records show destroyed documents and attempts to amend the scheme after inquiry began.
New York March 17. An unexpected outlay of half a million dollars required by new food laws plus reduced business late last year forced a reduction in the dividend on the preferred stock of the Corn Products Refining Company from 7 percent to 3 percent for the year. Directors had regularly declared 1 percent quarterly dividends plus a 2 percent yearly extra, but this year they gave an extra of only 1 percent in the final dividend.
Harisburg news reports the Pennsylvania Steel Company started two open hearth furnaces of seventy five tons each, the largest in the state, with two more to be restored to active service. At Central Iron and Steel Works one blast furnace and two crew hearth furnaces are in operation, boosting plate production.
New York March 17 Oriental Bank depositors who fought receivership won their point as the appellate division of the Supreme Court affirmed Judge OGorman by dismissing the temporary receivers. The bank is declared solvent and may proceed with its agreement with Metropolitan Trust Company which offered to advance funds to pay depositors and creditors.
Live stock trading remains steady in New York with beef and veal slow to fair demand and calves weak. Sheep and lamb futures show firm to higher bids, hogs steady to higher, cattle receipts near 3000 in Chicago with strong demand for steers and cows. lambs and sheep trade active in New York totals around 11,000 head.
Market notes show dull flour trading with higher exports and mixed receipts in Baltimore. Wheat and corn quotations drift with steady oats and rye, while butter remains firm and cheeses hold. ad notices advise delivering classifieds to local Post branch offices for pupil communications.
Philadelphia mar 7 Reading Railway Company found guilty in US court here of three infractions of the law requiring automatic couplers for freight cars. A fine of 100 dollars for each offense was imposed by Judge McPherson. Immediately after the verdict a similar suit against the Lehigh Valley Railroad was called for trial. Five additional cases against railroads are pending, likely to be disposed of this term. The Pennsylvania Railroad is a defendant in one suit.
United States District Attorney C C Houpt filed complaints in nine suits against Great Northern Railroad. Alleged violations of the federal law require cattle in transit be fed rested within 36 hours. Twenty-two violations cited could bring fines up to 11 000 if all offenses proven.
Fragmentary balance sheet text from a United States branch of a Liverpool life company dated December 1907 outlines assets such as cash in bank mortgages stocks and bonds premiums uncollected and other assets. It lists liabilities including net unpaid claims reserves and capital stock with names PAUL MORTON and WM ALEXANDER connected to the document and sworn affidavits from Joseph B. Beman.
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