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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
33
A distorted New York grain market report notes a hesitant trading start with buyers seeking profits and gains in wheat and cotton despite floods, unfavorable crop forecasts, and mixed Wall Street sentiment. It highlights cautious positions, uncertain futures, and regional price moves across the exchange.
The Washington financial scene shows weak buying and selling power with little speculative interest. Bonds mostly held, electric and utility issues moved but failed to spark a rally. Washington Railway and Electric and Washington Gas showed limited bidding, while National City Bank stock traded small lots and plans to increase capital face uncertainty. Bank and exchange officials discuss liquidation options with expected approval though opposition remains.
The Washington Stock Exchange listings show mixed quotes for members including Thomas Zune Co and others. Firms like Metropolitan Railways and Capital T re tion appear with varied percentages and prices amid unclear data from yesterday’s closing quotations.
Wheat futures rose on a late rally as receipts and weather news supported prices before paring gains near the close. Corn and oats traded unevenly with receipts and thresholds shaping moves, while rye drifted lower amid southwest damage reports and market resistance.
New York cotton futures opened steady then firmed late with gains for most contracts amid thin signs of demand. Cotton prices fluctuated around 7 to 14 points in early trading before closing near mixed, with May and July warrants showing modest strength while other months lagged.
Market notes show cattle prices by weight for cattle hogs and sheep spotted with mixed values. Morgan & Co to handle Burlington Railway bond issue of 1 000 0000 at 4 percent interest, sold at 90 1 2 with blank mortgage on lines.
Market slow with cattle and hogs lower while veal and veal calves show strength. Receipts rise across regions with stockers and sheep steady to lower and notable price shifts across grades and regions.
A longextract from The Washington Post discusses stock market sentiment after the New York New Haven and Hartford suit and anti corporation activity. It notes brokers’ reactions to anticipated large deals, railroads damaged by floods, and tentative plans by firms like Pennsylvania and Lackawanna. It mentions President Ripley and Delano in context of economic outlook and market resilience.
The Department of Justice and coal carrying railroads agreed the constitutionality case on disposing of their holdings under the commodity clause of the Hepburn rate bill will be heard by three federal judges in Philadelphia on June 15. The case will proceed on agreed facts and no prosecutions will be initiated against directly interested railroads until a court decision is rendered.
Department of Justice special attorney B D Townsend will depart for Portland Oregon to file legal proceedings on behalf of the government to dispossess the Southern Pacific of land in Western Oregon valued at $000000 and secure a decree annulling the grant and returning the lands to the public domain. The lands were granted to the old Southern Pacific decades ago to induce railroad construction. the company reportedly failed to meet additional obligations to the government.
Central American Legations celebrated the opening of the Central American Court of Arbitration at La Tegua Costa Rica. Flags of the republics flew as a Brazilian embassy banner joined the event with diplomats from Liberia, Salvador, and Nicaragua attending a congratulatory luncheon.
New filing system adopted in Woeslington City Post Office introduces vertical cases replacing old pigeonhole units. Postmaster Barnes says the design mirrors government departments and will streamline office operations as part of modernization efforts.
Baltimore markets show dull and unchanged tones across grains and flour exports. Spot wheat and white corn prices hover with minor bid changes, while mixed feeds and soy meal hold steady as freight quotes reflect stable demand and distant ship dates.
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