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Newspaper
Washington Post
Location
Washington, Washington Dc, United States of America
Date
Oct 02, 1909
Page
49
The Washington Post reports US Steel leads an active market with broad advances across major issues. Growth in steel and related shares sparks optimism while call money rates climb to around 60 percent, signaling tighter liquidity and renewed speculation in the market.
New York money market shows rates steady with 1 percent strong on certain bills, 4 percent par for time leases, and irregular bond activity. Trading reflects mixed demand in government bonds, with receipts toward cattle, hogs, sheep, and. beef markets. wider market movement across Chicago and New York with steady to slow activity in cattle, hogs, and dairy sectors.
Quotations furnished by Thomas L. Hume of the Washington Stock Exchange show mixed activity across bonds and stocks. Listings include Electric Light, United States Gas cert, Capital Building bonds, Americe Savings, Columbia Bank stocks, and several utility, mining, insurance, and miscellaneous issues with varied prices and percentages.
A scrambled OCR market page lists wholesale prices for eggs, butter, cheese, turkey, dressed poultry, fruits, vegetables, and other produce. It references regions such as Virginia and New York and includes numerous per pound, per box, and per crate price fragments with many garbled terms.
Market notes report active demand for better cattle and calves with prices per cwt and per ewe varying across grades. Wheat receipts and futures detail bearish pressure from the Modern Miller report, with late trading finishing near unchanged as traders anticipate profits and adjustments.
Special to The Weakington Cost, New York Oct 1. Pacific Mail tops list on ship subsidy talk as deficits widen and a government bonus looms for stockholders. United States Steel reports third quarter hints of earnings exceeding 58 million, leaving substantial balance for dividends and new construction despite a 3 percent base. Railroads face court-led restructurings as several lines move toward recovery, while Pacific Telephone and Telegraph expands.
The Newmarket tin market fell with spot prices and December futures down while London copper and other metals showed mixed to flat movement. Copper in New York and London closed variously, with spot and futures modestly lower or steady. steel and iron markets indicated limited activity. The report also notes the global cotton supply rebound and differing regional price movements across markets.
R G Dun and Company reports the industrial and commercial situation at the start of the last quarter shows a return to normal conditions. Southern trade is better, but high prices slow operations. Steel demand rises with railroad renewal, pig iron prices push buyers to limit purchases. Cotton goods and yarns rise but wholesale dry goods trade slows in New York and other centers. Footwear stays slow while hide sales reach 200000 hides weekly at full prices. Business failures total 197 for the week, up from last week.
New York produce market notes mixed prices with butter and cheese steady, poultry and flour firm, hay goat and hops steady, wool and lard steady, pork products varied, corn oil and rosin steady, turpentine quiet, rice firm, sugar steady, potatoes steady, freight changes minimal, broad flat tone across commodities and regions. Notable entries include Western chicken supplies, dressed fowls, and various steady receipts across multiple staples.
Special to The Washington from Pittsburg reports railroads near Pittsburgh brace for a tariff war over travel to the Detroit world championship games. The Wabash cuts a 1% rate to Detroit, provoking responses from Pennsylvania, Baltimore and Ohio, and Pittsburg and Lake Erie. The Wabash has already booked 2,000 travelers for Detroit.
Treasury reports show a three month gain in customs of 19,000,000 compared with a year ago, an excess of disbursements over ordinary receipts of millions, and a total public debt near 2.648 billion. Receipts from customs rose, ordinary receipts declined, and Panama Canal balances affected overall figures.
The New York cotton market opened firm with modest advances as traders noted stronger bullish sentiment and support from New Orleans and Chicago bulls. Reports on crop conditions ranged from 38 to 65 percent deterioration for the month, with 24 to 30 percent picked, prompting mixed cables and cautious buying into early afternoon.
Chicago grain prices wavered with wheat tumbling on liquidation and December futures slipping while corn fell amid selling. Prices for soybeans showed scattered gains, and December deliveries closed near a mix of modest losses and late-day weakness as traders weighed harvest timing and demand signals.
Special to The Washington Post details Michael Powers celebrating his 101st birthday with two trolley rides to Danville. He traveled from Bloomsburg, met friends, and returned home in good health, saying he could walk a day and feel fine. Powers, an Irish immigrant, lived as a bachelor and enjoyed a comfortable old age.
Baltimore markets report Wheat and Corn prices with monthly receipts and futures notes. Includes rye and hay firm values, freight rates and a summary of United States bond-backed currency totals. Post Want Ads note offers free classified listings.
Lieut Gen H Kilmer of Bathmore urged that 38 more officers be Christians and 1g true followers to make the Boys Brigade financially successful at the Pennsylvania division meeting in Pittsburgh. May Food Kress of Pittsburgh was elected commander. The annual parade is set for tomorrow afternoon.
David Ackermann 73 and his wife 76 died in their sleep at home after an illuminating gas fault during the night. A granddaughter alerted authorities after smelling gas. A physician arrived but they were beyond help. Ackermann was a retired businessman. The couple planned a 55th anniversary celebration next week.
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