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Newspaper
Washington Post
Location
Washington, Washington Dc, United States of America
Date
Mar 27, 1908
Page
9
Reading, Union Pacific and Reading led narrow gains amid a broad liquidation tone on the New York Stock Exchange. Market watchers noted small advances despite heavy turnover and anticipated bond issues, with Union Pacific slipping after bond plans emerged and Reading showing modest strength on coal and railroad expectations.
The London tin market fell with spot and futures slipping to around £142 while copper rose in London to a spot of £61 and futures at £81 7s 6d. Local markets were quiet or unchanged with prices for lead, electrolyte, and other metals minorly varied amid abroad declines and limited domestic activity.
News from New York on March 25 reports Reading stock rising to a new high as investors speculate on strong interests and expect higher demand in April. Union Pacific bonds and market activity drive cautious optimism amid mixed earnings outlooks and renewed bond market interest.
Daily activity centers on the Railways and Electric bonds trading around 76 7 8 to 77 with $13,000 in hands. Potomac Electric first leg bids 108 1 4 as $1,000 sold. Bell Telephone of Pennsylvania declares a 1 2 percent dividend payable April 15 to holders of record April 4. Washington Railway and Electric common bids to 24 1 2 after the call with small preferred at 70 1 4 to 70. Gas stock sells at 61 1 2. A Vanderlip of National City Bank may attend the District of Columbia Bankers' Association meeting at Raucher's, signaling a notable gathering for currency discussions.
Quotations show wholesale prices for butter cheese live poultry and meats with notes on demand and supply. Prices cover dairy products vegetables fruits and various cuts, listing per pound per crate or per barrel, reflecting steady to rising demand and active market conditions.
Market figures show cattle per owt at 4.75 percent odd rates and 4.00 to 4.50 for ordinary cattle per cwt. Hog prices listed per cwt from 4.25 to 4.56 for gross, with ordinary per cut. Sheep dipped at 4.00 and common at 2.50. Lambs spring choice per pound 15 to 16, medium 12 to 14. Calves prime per pound 7.5 to 8, common 0. Geared to cows prime fresh each 40.90 to 50.00, common 20 to 50 per set.
New York March 25 The cotton market opened higher but closed barely steady with a net decline of 1 to 2 points. Selling was light with only scattered transactions as May held around 9 cents. Reports from Southern points suggested firmer spot demand and light port receipts hinted at end of month clearances.
Money on call steadies at 1 percent with bids at 1 percent and offers at 2 percent. Time deposits quoted firm for 60, 90 and 180 days. Prime mercantile paper at 4 to 5 percent. Sterling exchange steady around 4.56 to 4.86 for demand drafts and 4.82 to 4.83 for sixty days. Government bonds show even demand while railroad bonds appear irregular.
New York on March 2 notes stable poultry prices with mixed fowls and turkeys, steady refined lard, and firm hog and pork values. Wheat futures rose on crop-damage fears, corn and oats mixed with receipts and exports listed. spot prices for wheat and corn shown, with regional price ranges and nearby contracts detailed.
Chicago grain market closed with May wheat up to near day’s high on short covering and bullish wheat sentiment. Corn and oats traded mixed with quiet demand. pork and lard led gains in provisions while hog futures rose on brisk buying by shorts amid limited cash grain demand.
New York March 2 stockholders of the Union Pacific Railroad Company will meet May 5 to authorize a mortgage bonded issue possibly totaling 40 to 80 million dollars. The proposal would secure unmortgaged Union Pacific lines and permit acquisition of Teavenworth Kansas and Western and Topeka and Northwestern roads, about 200 miles, currently unmortgaged. Directors declined a suit against Harriman Rogers and Stillman over profits from Illinois Central stock sales, citing full disclosure and unanimous board authorization. President Mellen of the New Haven system has not been invited to head the Union Pacific.
Dull and changed market notes for wheat corn oats and oats with receipts and exports listed. Trading terms appear with May and April dates and various grade and price references across grain components and butter eggs sugar.
News from New York and Chicago markets showing steady or slight increases in cattle and hog prices. Receipts and bids vary, with notable activity in veal, sheep, lambs, and pork products across the listed districts.
The case of Grover Cleveland Fuller, a former jockey, was postponed to March 30 to allow further investigation and time for the alleged victim to recover from bruises. Also announced are Edoardo de Amicis memorial services at Pythian Temple with professors C Veditz and Cordi Ferro among speakers, public invited. Also notices about Luclustre 0 to 64 and related sale details for publications from The Washington Post.
Rob Roy Mackey won 40.26 against Joe Turner in a Justice of the Peace court for alleged breach of contract tied to a wrestling match on February 1 at the National Guard Armory. Testimony revealed secret agreements on gate receipts and expenses, with contracts showing a 7 percent winner share and later a receipts split minus 45 for expenses.
Invitations extended to Speaker Cannon Senator Foraker and Representatives Dalzell J Warren Keifer Campbell Scott Cushman to address next Tuesday night at the A M E Church for the festive anniversary of ratification of the fifteenth amendment. Dr Josine H Jones Wilberforce College will be principal speaker. Sale of Fine Japanese Art Wares Japan Art Company 1237 G Street NW selling numerous ceramics cloisonne and bronzes from Jamestown Exposition collection with bidding daily until sold.
W. S. Andrews, auditor of the Treasury, will address the special Dumbarton Chapter Epworth League meeting at Dumbarton Avenue Methodist Episcopal Church next Sunday evening at 7 o'clock. Special music is arranged for the choir and Dr. Pate will preach the sermon after the league service.
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