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Newspaper
Washington Post
Location
Washington, Washington Dc, United States of America
Date
Oct 02, 1906
Page
9
New York traders favored a stronger tone with broad gains across leading issues. Banks and industrials advanced as the October disbursements period passed, while London sentiment remained subdued and cotton futures rose, signaling continued foreign exchange and commodity influence on prices.
Reports from The Washington Oct 1 outline market rumor activity in Wall Street, noting short interest and limited Reading outside investor control. It highlights Topeka and Santa Fe construction progress in New Mexico, potential annual earnings of 2 to 4 million dollars, and a bright 6 percent dividend outlook. The piece debunks persistent re-election rumors and signals Standard Oil pressure easing, suggesting possible bear covering as oil interests appear less aggressive.
New York money rates show strength with call money at 4 4, treasury bills, mercantile paper, and sterling exchange steady. Gold imports in London reach about 4.6 million dollars in open market bids for the United States, with a broad rally in London copper and related metals amid scarce supplies and high futures.
The cotton market shows varied moves with October and December futures trading near higher levels on some days while others retreat. Prices for January and March futures hovered around 9.80 to 10.25 with cautious gains and persistent activity amid temperate regional conditions and heavy realizing seen by traders.
A chaotic OCR listing from the New York produce market shows butter, cheese, flour, and other commodities with varied receipts, prices, and locations. It notes firm butter and cheese markets, flour receipts of 29,762 barrels, and freight rates to Liverpool, alongside regional price ranges and shipment figures.
Yesterday's session showed Mergenthaler recovering from a slump with a 50 share block at 199, advancing to 199 5/8 after a broker placed a sizable order. Greene Copper gained slightly amid thin trade, while Washington Railway and Electric and Washington Loan and Trust saw only small dealings. railways remained largely inactive and bank stocks traded slowly.
Yesterday's Washington Stock Exchange featured varied quotations across railways, utilities, bonds, and title insurance stocks. Notable listings included Washington Railway and Electric, Greene Copper, Columbia Title Insurance, and several city bonds with prices ranging from par to discounts.
Wholesale price quotations for fresh commodities in the Washington market show steady to firm values for butter cheese and poultry, with moderate receipts and weak demand for inferior stock. Items listed include Virginia Maryland North Carolina categories, ducks, chickens, turkeys, dressed meats, and produce such as Irish potatoes onions celery tomatoes peaches and pineapples with varied per bushel and per barrel figures.
Market steadiness noted for better cattle and sheep while common grades vary. Calves must be three weeks old or be condemned. shippers urged to consign well fattened stock. Prices listed for extra beef cattle hogs sheep and calves reflect typical ranges despite uncertain older stock value.
Swift & Company reported in Washington that fresh beef sales for the week ending September 29 averaged 6.08 cents per pound. The Baltimore market column shows steady to unchanged grain prices with receipts and export figures for flour, wheat, corn, oats, rye, hay, and fats, alongside freight rates and dairy product prices.
Opening tone turned bullish on Northwest crop news and firm receipts. Bulls and speculative buying supported No 2 red and No 3 red May futures with spot prices steady for oats and elevators mixed. December positions mixed amid dull option activity and export rumors.
Chicago grain report notes continued small activity in the Northwest lagging prices for December delivery while bulls push wheat higher. Corn and oats steady. cash wheat at Kansas City up. primary receipts below last year with mixed ocean movement and rising visible supply. Provisions market quiet but firm ahead of monthly grain statistics release.
Market data shows mixed cattle results with higher steer prices in New York and softer bulls and cows. Chicago receipts reach about 23,000 cattle and 90,000 hogs with strong to steady momentum for steers and prime beef. lambs and sheep largely steady to higher in trade.
Friends and patrons toured the new East Washington Savings Bank building a $25 000 freproof unit at 32 Pennaylvania avenue during an all day opening that ended at 10 PM. Officers and trustees greeted visitors, souvenirs were distributed, and the bank noted it has 1 17 depositors with $176 000 in deposits.
John McGregor, builder, purchased the brick and brownstone residence at 1740 P Street from Ralph L. Hall for 12600. The three story, fifteen room house with two baths sits on a 23 by 119 foot lot. Improvements and renovation are planned for investment.
Two petitions in voluntary bankruptcy were filed yesterday in the District Supreme Court. A. Frank Evans, a fish agent at the eleventh street wharf, owes MATM and has assets of $95.99. Edmund J. De Lacy, a contractor and bricklayer, of 1013 BE street northwest, owes $4,962.08, with no assets.
The Interstate Commerce Commission announced it will interpret laws in advance to anticipate complaints, easing future workloads. A new feature holds that state rates part of interstate rates must be filed with the commission. Uniform classification will be examined in a Washington conference with Commissioners Cockrell Clem ents and Lane to see if railroad agreement can avoid further Congress legislation.
Rural letter carriers report success using automobiles for mail delivery under post office rules, with one carrier building a homegrown vehicle of seven horsepower. If proven, the firm plans to manufacture autos tailored for rural routes, promising lower costs than horse drawn carriers. A convention to exchange money orders between the United States and the Bahamas was signed by Acting Postmaster Hitchcock, aligning with postal policy to expand the system. Government receipts from internal revenue and other sources totaled over 1.5 million dollars, while expenditures reached about 2.6 million dollars. Shonts was re elected president at the Detroit and Toledo Shore Line annual meeting in Detroit.
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