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Newspaper
Washington Post
Location
Washington, Washington Dc, United States of America
Date
Nov 10, 1909
Page
33
A thin trading day saw New York stocks drift into torpor at day’s end after a morning rally. Wells Fargo and copper stocks drew buyers while lending rates shifted, signaling cautious sentiment amid international finance moves and Bank of England policy expectations.
A jumble of bond quotes shows varied movement across major issues with references to New York and regional listings. Traders noted shifts in yields and prices as sectors including utilities and rails displayed differing momentum amid changing rates.
The New York treasury and mercantile paper markets show varied rates with calls near 144, 5 percent bids for time loans, 90 day loans at different yields, and sterling exchange wide amid official settling quotes. Government bonds remain steady as market activity fluctuates in New York financial districts.
Wall Street dullness marked by slow trading in early session with prices barely moving until call money rose to 5 percent. Talks of wage and rate increases linger as railroads face potential labor disputes and corporations push for favorable legislation. Wells Fargo and Atchison Rock Island featured in movement blamed on new stock issues and rumored dividends amid corporate Mexico expansion.
Quotations from the Washington stock exchange show mixed activity with notes on Treasury yields, cattle hogs and grain prices. Market items include butter, eggs, dressed meats, fruits, vegetables, and livestock with regional mentions and price ranges.
Commodity listings and market notes from New York and Chicago show steady to firm trends across meats dairy grains and oils. Key items include steady butter eggs lard pork and cottonseed oil with wheat corn oats and potatoes showing bullish moves amid strong Liverpool and domestic demand.
Market notes from Baltimore Md show mixed grain prices with No 2 yellow corn steady and No 2 white oats trading at firm to steady levels. Steamed and mixed grains listed with various spot and future prices, while freight conditions remain dull and unchanged.
Live stock markets show scattered activity with mixed receipts across cattle and hogs. Cattle steady to higher with 65 cattle at strong quotes. hogs estimated 77,000 head with steady to strong tone. sheep and lambs 474 head, bids steady. beef and veal steady with 600 quarters of beef.
The New York metal market closed mixed with spot copper near 12 80917 and tin around 30 00 30621 while London prices quoted £ 58 18a 6d for copper futures. Local dealers show varied quotes for electrolytic copper and tin futures, with fragmented readings across markets and locations.
Supplemental to a Monday report the Agricultural Department released preliminary production estimates for 1909. Winter wheat about 432,920,000 bushels, spring wheat 281,348,000, oats 983,618,000, barley 161,635,000, rye 31,008,000 bushels, and hay 64,146,000 tons were forecast by the bureau of statistics.
Bethlehem Nov 9 The wages of several thousand Bethlehem Steel Company employees will be restored to the pre 1907 scale. President Charles M Schwab announced the increase amounts to 1 percent. Reading Iron Company notices say a new wage schedule for nearly 200 men will take effect in November. Puddlers wages rise from 4 10 to 5 00 per day.
A vigorous campaign seeks to move presidential inaugurations from March 4 to the first Thursday in April. The national committee on the proposal will press resolutions in Congress at the extra session. Governors in several states support the change and have agreed to join the committee.
Berberich Sons, leading Washington shoe merchants, guarantee Burrojaps patent leather uppers will not wear through before the sole. If vamp fails before the first hole wears through, they offer another pair free. Burrojaps boast six styles, burro leather, high polish, light weight, and comfort.
Public Service Commission approved contracts totaling nearly 1 million dollars for a new 8 mile subway line in Brooklyn. Groundbreaking set for Saturday. line runs from the Brooklyn end of the Manhattan Bridge along Flatbush and Fourth Avenues to Forty Third Street with extensions planned to Coney Island and Fort Hamilton. Contracts awarded to James P Graham Smith Scott & Co. William Bradley E H Smith Contracting Philadelphia. Tidewater Building Company.
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