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This newspaper page contains 13 articles. Subscribers can read the full text of each article.
Newspaper
Washington Post
Location
Washington, Washington Dc, United States of America
Date
May 26, 1908
Page
2
A chaotic summary of early New York grain trading shows a cautious rally in wheat and cotton amid flood of news and a disappointing crop report. Analysts note mixed signals from Southwest markets and uncertain future demand as prices inch up while overall sentiment remains cautious.
Trading on the local stock exchange showed buying power retreating and selling power steady with markets in a rut. Bonds held their own as Washington Railway and Electric common and preferred faltered slightly, Potomac Electric fell from 104 bid to 103 1 2, and National City Bank stock traded at 160 for five shares. The Washington Gas bid faded to 66 after a 25 share offer. Officials debated capital changes and liquidation plans at Washington Exchange Bank, with no definite forecast.
The Washington Stock Exchange reports closing quotations with figures for Thomas Zune & Co and members, including shares in Metropolitan Railways and Capital Trestle. Values show 108 percent for Washington Railway and 27 percent for another listing, with other rates around 179 and 129 in assorted brokerages.
Daily market notes show wheat advancing on higher receipts and Midwest demand with July at higher levels before a late rally near close. Corn and oats weak at times on ample supplies, while rye shows firming tones amid reports of damage and rust in the Southwest. prices end broadly higher for wheat, mixed for corn, and firmer for rye.
New York cotton prices opened steady and drifted with minor gains late, near 5 to 14 points firming in spots. Futures for July and August showed modest gains amid volatile intraday trading as traders awaitedWestern mill activity and bank market cues, with closing bids around 9 to 14 points higher for some contracts.
Market notes show cattle prices steady to higher in surrounding states with Virginia and North Carolina among affected regions. Poultry demand softens for hens and ducks while turkeys and spring chicks remain in limited supply. dairy products and cheeses cling to steady to firm levels amid mixed wholesale activity.
Live stock market column details receipts and price ranges for cattle, calves, hogs, sheep and lambs across New York and Baltimore. Markets show firmness in veal and calves, with cattle and hogs mostly steady to slightly lower, receipts estimated in the thousands and hundreds as buyers and sellers react to daily shifts.
A long, gossip filled market column notes brokers reacting to a New York New Haven and Hartford suit, anti corporation activity, and anticipated railroad projects. It cites Pennsylvanias busy work pace, Lackawannas planned opening, and demand for finished material as signs of market confidence amid flood damages and unsettled conditions. It mentions President Ripley, Delano, and broader business sentiment in Chicago and other hubs.
The government and coal transporting railroads agreed the Hepburn act challenge will be heard by three Federal judges in Philadelphia on June 15. The case will be tried on agreed facts with no prosecutions to begin until a court decision is reached.
Special attorney B D Townsend will depart for Portland to sue the Southern Pacific to dispossess it of lands in Western Oregon valued at 10,000,000 and secure a decree annulling the grant returning the lands to the public domain. The lands were given decades ago to induce railroad construction, but the grant holders allegedly did not meet all obligations.
Central American Legations celebrated the opening of the Central American Court of Arbitration at La Tegra Costa Rica with national flags raised by republics. The Brazilian Embassy joined in the event and members of the diplomatic corps from Honduras, Salvador, and Nicaragua hosted a congratulatory luncheon.
Postmaster Barnes substitutes vertical filing cases for old pigeonhole setups to streamline work. The new cabinets resemble government departments and form part of a broader plan to modernize the post office machinery.
Market notes show dull and unchanged prices across futures and spot Wheat and Corn. Reports indicate steady freight rates and fertilizer signals, with minor fluctuations in basis and delivery months, reflecting mixed demand in midweek trading.
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