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This newspaper page contains 14 articles. Subscribers can read the full text of each article.
Newspaper
Washington Post
Location
Washington, Washington Dc, United States of America
Date
May 13, 1908
Page
25
Washington dispatch notes a sharp rise in Amalgamated Copper and related markets amid discoveries of rich deposits on the company property. Despite heavy selling, strong interests remain, with London Account pressure easing and a firmer undertone developing through the day.
Wheat futures rallied from early losses on favorable export demand while May and July contracts steadied, corn and oats mixed as receipts and exports shift. Prices, spot and futures quotes, and rail and bond mentions fill the day’s trading notes, with broader markets showing cautious recovery amid weather factors.
Washington cattle and hog prices listed with ent, per cent figures and notes on calves and sheep. May 2 reports from Newport and New York detail money on call, exchange rates, government bonds, and grain, with beef and lamb receipts and price ranges.
The article discusses trader confidence amid a surge in stocks despite weak conditions. It cites short interest, bond rumors, and Harriman influence while noting idle rail cars and storage use on main lines. Reading and Western markets show varied activity and rising bank clearings tied to bond demand.
Local financial notes report noticeable buying interest on the stock exchange yesterday with brokers leaving orders in, strong undertone, and hardening prices. Washington Railway and Electric moved up to 312 bids on preferred shares, Mergenthaler rose to 297, and National City Bank surged from 140 to 153 amid brisk trading and elevated bids while bonds and some issues showed limited activity.
A fragmentary ledger style market summary shows prices for POULTRY, CREAMERY products, hides, leather, beef, pork, tallow, cotton, and petroleum. It notes steady or firm tones for several commodities, with mixed moves for others, including potatoes and cabbages, and regional prices cited for Southern and Western markets.
Regular call data shows Caplini Traction at 123 percent with 20 shares and 1 at 14. Weahington Gas trades 69 at 439 percent with 25 at each and 25 at 62 and 5 at 8. Mergenthaler Linotype 10 at 197, 10 at 197, 16 at 197m. American National Bank 10 at 155, Second National Henk 4 at 149. Columbia Railroad after col shows 63 and $1,000 at 196. Washington Railway and Electric preferred 32 at …
President E. Quincy Smith reported that parties failed to agree on minor points in a plan to transfer 1600 shares of National City Bank stock to Union Savings Bank interests at 170. The proposed exchange would not merge the banks but create reorganized holdings. stock trades dwindled as quotes slipped from 170 to 161 without any sale.
Special report from Pittsburg May 19 states United States Steel Corporation will restart mills promptly after Chicago and Denver conventions determine presidential candidates. Employees urged to stop vacations by August 1 as orders come from Wall Street. A new coast railroad bridge material train and 159 cars of bridge work have been sent west recently. Structural units are on overtime to support western railway construction.
Stockholders authorize up to 50 million dollars in 4 percent refunding bonds for 35 years with at least 25.1 million available immediately to refund floating debt and fund improvements. NY public service commission authorization to issue. Western Pacific notes sold to fund construction, proceeds for completion of Western Pacific.
In Ou City Pennsylvania on May 32 creche balances reported at 1.76 with Buoy 924,170 average 135,184. Shipmente 136,428 average 174,058. Teledo Ohio May 18 covers North Lima 04 and South Lima 08 including Indiana.
Interstate Commerce Commission reports a decline in railroad accidents for the quarter ending December 8, with 20 458 total casualties including 108 deaths and 19 388 injuries. There were 2 094 collisions and 1 870 derailments, $2 962 470 in damage, and the worst derailment involved a lone electric car.
General Superintendent Kimball disapproves movements exploiting the government Life-saving Service under the guise of charity. In a Milwaukee Merchants and Manufacturers Association letter, he states such plans are clearly rejected and would harm the service's reputation if allowed to continue.
Postmaster Barnes announces James A. Smith to serve as clerk in charge of Station No 34 replacing Edward Green who resigned. Wilton Harvey and James W Miller resign, while Thomas F Monaghan and William R Potter are appointed as replacements. Banks repay Treasury as national banks settle deposits by April 28 totaling 20 million 3 hundred thousand dollars, exceeding the due May 9 by over 3 million.
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