Prices Remain Firm as Banks See Easier Money Status
Banks gain in cash and a more favorable statement expected. Rise in Hocking Valley accompanied by report that preferred stock is to be retired and the dividend on common increases.
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Newspaper
Washington Post
Location
Washington, Washington Dc, United States of America
Date
Nov 16, 1905
Page
13
Banks gain in cash and a more favorable statement expected. Rise in Hocking Valley accompanied by report that preferred stock is to be retired and the dividend on common increases.
A New York market summary notes gains in Louisville and Nashville and Southern iron stocks amid renewed merger rumors. Railroads, Virginia Carolina Chemical, and copper as well as coal and iron shares rise on anticipated benefits. U.S. Steel among leaders and railroad speculation dominates trading while money markets show higher sterling and cautious liquidity.
New York note details steady to rallying prices across grains with BUCKWHEAT and RYE steady, WHEAT up amid Argentine front news and cash demand at Minneapolis. CORN and OATS show firmer bids on limited offerings, receipts around two hundred thousand plus bushels, with spot markets steady and futures mixed into December.
Chicago grain markets report a busy session with wheat under pressure from Liverpool prices but supported by local mill demand in the U S. May wheat traded around 89 to 89 1/2 cents, then settled near 89 1/2 cents. Oats and corn showed light activity with corn helped by shorts covering, while hogs strengthened pork and lard edges higher amid steady demand from packers.
New York cotton figures furnished by W B Hibbs & Co bank era and brokers at 1419 F street list members of the New York Block Exchange Washington Bee Exchange and Chicago Board of Trade.
The record notes New York bonding activity with bids and offers on government bonds and commercial paper. It lists yields and prices in irregular figures, mentioning 6 and 7 percent rates, bills at 456 54 and 680, and currency notes including Mexican dollars, with references to railroad and government issues.
Market brief notes stable prices in oil refined and crude markets with minor shifts. Cocoa and Lima items listed with small changes. regional price references include Wheeling West Virginia and Toledo Ohio. Ongoing coverage of textile commodity movements and general market activity.
Interest in annual officer elections dominated yesterday's Stock Exchange meeting while the entire list of officers was re elected with no new names. Trading was slow with 412 shares and 4000 in bonds changing hands as lenders remained cautious and money markets stayed tight.
The Washington Stock Exchange reports closing bids for District of Columbia bonds and multiple securities. Prices range with Metropolitan Railroad notes at 106, Washington Railway and Electric preferred at 93, and several utilities and telecommunication issues showing varied percentages. Agricultural and commodity prices also listed with steady to firm tones.
Local and London metal markets display firmer tones with higher spot quotes for copper and zinc while lead and wax hold firm. Foundry iron grades remain steady to higher, with Northern and Southern foundries quoted at several price ranges and prompt delivery emphasized.
Baltimore markets report steady to firm prices across grains and fats. Wheat and corn futures show unchanged to mixed movements with receipts at several ports. butter eggs and sugar maintain firm, store packed, and large to small grade figures reflect stable demand and pricing.
Cattle receipts 1927 head with mixed results. Bulls steady cows firm to 16 higher, native steers 42 00 50 backed by calves at 2 50 4 00. Calves steady to lower with veals 40 60 top 76. Hogs 604 head in New York steady. Chicago receipts 22 000 head up around 60 higher with choice to prime at 6 40 9 50. Sheep and lambs 9 094 head, lambs 60 7 75, ewes steady. Overall market tone up modestly across cattle hogs and sheep.
Iron trade activity surges as furnaces operate at full capacity across the United States. Orders from Youngstown to Buffalo, Chicago, and Canada rise, with shipments planned into the first quarter and prices quoted for No 2 foundry iron and Southern iron. Major buyers include unions, railroads, lake shipyards, and shipbuilders looking to June construction deadlines.
After fifteen years the Kentucky and Tennessee Board of Fire Underwriters dissolves today and a new Kentucky Association forms. A similar Tennessee group will be created. The change promises lower insurance rates for brick mercantile buildings in Kentucky towns and cities. William Sowards of Cincinnati will become president of the Kentucky Association.
New York November 15 Standard Oil announces a quarterly dividend of $10 per share, up from $6 previously and $7 a year ago. The year’s total rises to $40 per share. Robbins resigns as Wabash division superintendent effective December 1. The Buffalo and Detroit divisions south of the Wabash to be merged with potential HQ at St Thomas Ontario.
Nov 15 report states American Homing Company purchased the milling plant and elevators of Suffern Hunt Company at Decatur Ni gald, aiming to create the world's largest single corn mill. Purchase price near 400000. Toronto creditors wind up International Mercantile Agency of Canada with liabilities 217000 and assets about 267900.
Franc ia l smith president Rein M Lothrop Ist vice president Quincy Smith 3a vice president Jobo B Bleman jr secretary GO Walton treasurer Jackson H Ralston attorney LG Himpall auditor depositor convenience emphasized bank account. Union Savings Bank Bond Building & N.Y. Ave. 8 percent wear.
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