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Newspaper
Washington Post
Location
Washington, Washington Dc, United States of America
Date
May 13, 1908
Page
2
Special to The Washington Post reports that New York trading opened with softer prices but firming underpinnings as the market absorbed heavy selling and London Account offerings. Amalgamated Copper led the session with cautious strength amid broad related selling, while analysts noted sustained demand from strong interests and a tentative recovery potential for the broader market.
Wheat futures rallied after an early break as bear news faded. Spot values eased for some grains while export shipments and world stocks influenced demand. corn and oats showed mixed moves with modest gains and steadier close.
Washington market reports show mixed cattle hogs sheep and calves with price ranges for per cent and ent units. New York and Chicago bids list cattle receipts and prices for steers cows bulls calves and feeders amid steady to higher tones. London tin copper and iron markets alongside grain and dairy quotes fill the trading day with futures and spot figures.
Washington may BR pager outlines traders bold move amid rising stocks and new doctrine that market conditions no longer constrain risk taking. The piece surveys Union Pacific, Rothschilds, Harriman influence, railroad car surpluses, storage on mainlines, and broader market sentiment across rail and steel stocks.
Active securities drew good demand with traders pushing prices higher on the local stock exchange. Washington Railway and Electric traded 20 shares, Capital Traction rose to 1241 2, National City Bank surged after a skyrocket move, and Mergenthaler advanced as selling pressure eased.
Fragmented trade notes show mixed commodity terms such as poultry, creamery, hides, beef, pork, cotton, sugar, molasses, turpentine, potatoes, cabbages, and regional mentions like Southern and Western. Prices and statuses are inconsistently legible, offering a snapshot of market chatter rather than a coherent report.
Regular call data shows Caplini Traction at 123 percent for 20 shares and 14 percent for 1 share. Weahington Gas quotes 439 percent for 25 shares at each and 62 percent for 25 shares, plus 8 percent for 5 shares. Mergenthaler Linotype has 197 percent for 10 shares twice and 197m for 16 shares. American National Bank 10 at 155, Second National Henk 4 at 149, Columbia Railroad after col shows 63, and Washington Railway and Electric preferred at 32 for unspecified amount.
President E. Quincy Smith said negotiations for a change of control of the Union Savings Bank with National City Bank failed on several minor points. The proposed terms reportedly included 1600 shares at 170 and formation of Washington Exchange Bank in the same building, with assets to National City Bank. No merger was contemplated, and no stock sale occurred as prices fell from 170 to 161.
Pittsburg May 19 United States Steel Corporation plans to start mills in full as soon as presidential candidates are set by Chicago and Denver. Wall Street orders require vacations to end by August 1, and a solid train of bridge material for a new coast railroad left Pittsburg. Over the past weeks 159 cars of bridge work have been sent West as structural units work overtime to meet western railway construction.
New York stockholders authorize a 50 million dollar four percent refunding bond issue for at least 35 years to refund floating debt and fund improvements. Up to 25.1 million will be issued immediately with New York Public Service Commission approval sought. Also, Denver and Rio Grande notes worth 15 million dollars were sold for Western Pacific construction, with a two year six percent rate and three year extension option.
OU City Pa lists creche balances at 1.76 and Buoy 924170 average 135184 with shipments 136428 average 174058. Teledo Ohio reports North Lima 04 and South Lima 08, with Indiana figures on May 18.
Interstate Commerce Commission figures for the quarter ended December 8 show 20,458 railway casualties with 108 deaths and 19,388 injuries. Compared to the previous year, killed and injured totals fell by 318 and 148 while collisions and derailments shifted, costing nearly $2.96 million in damage. The era’s worst derailment remains an electric car incident.
General Superintendent Kimball condemns schemes that use charitable appeals to fund private gain within the Life-saving Service. In a Milwaukee Merchants and Manufacturers Association letter he states such plans are openly disapproved and would harm the service’s reputation if allowed to continue.
Postmaster Barnes announces James A. Smith will be clerk in charge of Station No 34 replacing resigned Edward Green. Clerks Wilton Harvey and James W. Miller have resigned. Thomas F. Monaghan and William R. Potter are appointed to succeed them. Banks repay treasury deposits briskly with payments totaling 20 003 500 yesterday, over 3 250 000 above the May 9 requirement.
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