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Newspaper
Washington Post
Location
Washington, Washington Dc, United States of America
Date
May 24, 1916
Page
2
Wire and ticker reports show rail shares rising while shipping stocks dip. Irregular specials and heavy steel activity mark the session with General Motors advancing, Willys Overland surging, and Petrochemical listings leading gains. Bond values unchanged as gold import data cited.
Southern Pacific leads with April gross earnings of 12,351,278 and after tax net of 1,303,707 for ten months ended April show 126,246,215 gross and 39,274,336 net. Rock Island also reports April gains in gross and net, while imperial Germany’s bank statements show shifts in reserves, deposits, and war loan payments.
New York May 23 prime crude 967 nominal prime summer yellow 10.75 May 10.85 June 1087 July 10.82 August 10.87 September 1190 October 10.06 November 23 December 9.42 prime winter yellow 11.0 11.50 prime summer white 135 11.75
In New York on Tuesday May 2 1916 total stock sales reached 58,278 shares against 806,470 shares previously reported. Trading volume showed a sharp contrast as market activity slowed markedly from prior sessions.
The piece notes M. W. Harrison's claim that New England savers fund much of the nation, with Boston historically dominating railroads like Union Pacific and Atchison and shaping major industries. It traces shifts as New York and the West gained financing power, while Boston now leads in wool markets and the telephone sector but not in commercial paper or farm mortgages. Canada Cuba and Europe seek thrift guidance from the American Bankers Association.
Continental Trust shows bids and offers at noon with 10 shares at 130 and 120, plus 5 shares at 130. Regular call captures trading interest for the closing session.
Copper remains firm in New York with electrolytic nearby and August futures around 29.00 and 20.00. Iron steady. Metal Exchange lists tin as easy with spot at 48 50.00. In London spot copper at £136 and futures at £133, electrolytic £158, tin spot £193 and futures £193 6s.
New York money market figures show mercantile paper at 3 percent while sterling 60 day bills quote around 4.72 percent. Demand and cables for francs, marks, kronen, guilders, rubles, and other currencies vary, with time loans firm at 60 days two percent, 90 days three, six months eight, call money firmer. Closing bid 2 percent, offered at 24.
Baltimore markets note unsettled wheat with No 2 red spot May at 1.07 and No 2 red Western spot May 1.11. Corn spot and May at 78. oats standard white 47. Eggs Pennsylvania 214. Alive poultry rates include old hens 20 and ducks white Peking 16.
Wheat futures steady as spot quotes hold for No 1 durum at 1.1734 and No 1 Northern at 1.26 f.o.b. New York. May futures 1.1534. Corn and oats also show steady or quiet movement with No 2 yellow corn at 84 and standard oats near 49. Market notes omit further items.
Local financial notes report a subdued session on the Washington Stock Exchange with a limited bond demand and steady to firm prices for utilities and street railways. Harris Winthrop & Co. surveyed 4,500 leaders. results show widespread optimism, with a majority predicting economic strength and confidence in the political system. Thomas A. Scott Tropp joined the Dupont National Bank board as secretary.
The Treasury reports a net general fund balance of 125,280,425.19 and total cash assets of 217,191,780.27 dollars. May 22, 1916 figures show receipts 2,636,027 and payments 1,452,726, with a year-to-date deficit of 54,046,843, against last year’s 109,978,671, excluding Canal and debt transactions.
A dense OCR of financial securities and bids lists various holdings and par values. Entries include railways, steamboats, gas companies, banks, theaters, and paper firms with percentages or prices such as 5% at 40, 4% at 80, and other bid notes. Numerous line items mention Washington area entities and several bid wanted notices.
Philadelphia markets report butter steady, eggs unchanged, cheese firm to higher with New York full creams at 17 to 18 cents. Wheat declines with No. 2 red spot at 1.08 to 1.10 and No. 2 Southern red at 1.06 to 1.08. Corn eases with No. 2 yellow local at 82 to 82 1/2 cents and steamer No. 2 yellow about 80 1/2 cents. Oats fall with No. 3 white 50 to 50 1/4 cents and No. 3 white around 47 to 45? cents.
Market listings report alive poultry prices for hens at 19 cents per pound and turkeys at 23 to 24 cents, with spring chickens at 33 to 36 cents. Dairy items include New York State factory cheese at 17 percent and nearby Virginia eggs at 22 cents, with butter at 38 cents. Vegetables and fruits cover wide ranges from potatoes and onions to citrus and berries, listing per bushel, per basket, or per crate prices in multiple regions.
New York May 23 Butter receipts 15 554 Creamery extras 92 score 30 to 36 percent. Eggs easier receipts 37 0949 Fresh gathered extra fine 24 to 26 percent. Cheese firm receipts 3 054 fresh specials 17 42. Poultry live strong broilers 30 to 35 cents. Sugar raw easy centrifugal 627 molasses 5 50 refined unchanged. Flour barely steady. Pork steady. Beef steady. Lard easy middle west 13900 43 10.
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