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Newspaper
Washington Post
Location
Washington, Washington Dc, United States of America
Date
Oct 04, 1909
Page
11
The stock market shows broad fluctuation amid cautious gains with big rail and industrials leading the advance while speculation, dividend hopes, and tariff fears shape trading. Analysts cite higher anticipated dividends at major lines and tariff policy as key drivers behind the ebb and flow in prices and interest.
The passage notes a strengthening of the foreign exchange market aided by European purchases of American cotton. It explains that these buys raise the value of cotton exports and push sterling higher, with effects extending into the coming months.
Prof Milton Waltney chief of the soils bureau in the Department of Agriculture argues in a new bulletin that world soils are not gradually wearing out. He cites 40 years of records showing crop averages rising, with wheat up two bushels per acre in older states and New England corn and wheat yields increasing, while Mississippi River states lagged. European nations also show larger crops now than in the past.
New York October reports show production and contracts at record levels with over one million tons under contract and 700,000 tons of rails. Prices surged for standard and basic Bessemer, with multiple mills raising furnace quotes and deliveries. September output by the steel corporation reached about 1,142,000 tons of pig iron and 1,310,000 tons of ingots, the highest monthly totals in company history.
Special to The Washington Post Pittsburg October 3 rumors swirl that John G Leishman U S minister to Turkey could lead an independent steel combine backed by HC Frick and the Mellons Union with Standard Steel Car and other firms A W Mellon recently traveled to Europe to discuss offering Leishman the presidency of the steel merger as talks continue with Lackawanna Steel and a new mill costing about two million dollars
August reports from the Bureau of Statistics show heavy shipments of soft coal iron ore and lumber and high car in service traffic. Grain receipts across fifteen interior markets totaled 77 250 800 bushels for August, surpassing 1907 and 1913 figures with continued gains in most classes. The twelve month crop season through August reached 753 830 314 bushels, up from earlier years, while August shipments indicate a generally improved industrial outlook. Acting Secretary Adewale to receive Moroccan delegation at Hudson Fulton celebration this afternoon bearing letters from the sultan and grand vizier to the President and Secretary of State.
London reports a pickup in stock exchange activity with local American buyers, while Berlin notes conservative sentiment and a late rally from New York’s gains. Paris sees limited volatility as rates ease and gold exports to Russia influence sentiment.
A Spanish and English pamphlet from secretary Da masco Fasaledes in Washington counters U S newspaper reports on Cuba. It republishes El Mundo Havana editorials noting independence and the spy government's popularity, plus articles on Cuba’s financial stability and foreign trade. It claims no yellow fever on the island and reports prosperous banks and bankers.
Army orders in the Wer Department have troops in the Philippine Division test a gun helmet like the British tropical model. Supply is issued by the quartermaster, with December 31 as a report date for durability sun protection rain ventilation and other qualities versus the service hat. Officers wear a cotton band on khaki helmets.
Registrations for members and delegates of the Society of Military Surgeons Walk occur at the New Willard Hotel at 9 this morning with a four session program on Tuesday. Delegates urged to register promptly for an official program. A special riding ball exhibition at Fort Myer Va is set for 1 pm Wednesday as a compliment to the society. Those seeking seats should apply to the adjutant at Fort Myer with name address and ticket quantity. Regular riding hall desks at Fort Myer not available until Friday November 5.
A long reader correspondence column offers pension advice for Civil and Spanish American War cases. It covers widow’s pensions under general and special acts, required proofs, disability links to service, and steps to file or restore benefits. Names include MARTHA F, BENJAMIN F, JANE FOS, and JOUN GF among many informants.
Cabinet members return to Washington amid plans for reorganization and policy consolidation. Wickersham Nagel prepare to join, with Taft and Hitchcock to tour West as other officials outline legal and administrative changes across departments.
In Panama on October 3, the supreme court refused bail to Herbert C. Jeffries, an American, in the case arising from the August 1 incident involving editor Ghendier of the Panama Press. The ruling heightens legal scrutiny surrounding the press dispute.
The new tariff law imposes tonnage duties tomorrow, charging Ontario ships 3 cents per ton and vessels from the Netherlands and Copenhagen 6 cents per ton, with other foreign entries taxed at 2 to 6 cents per ton. The reform aims to raise about 50,000 annually, with reductions offsetting some charges for certain West Indies and North American shipments.
Wiltam H Michael, American consul general at Calcutta, reports to the State Department advising travelers in India to protect against the sun with a helmet or sunshade and neutral glasses. He notes tropical diseases like malaria, dysentery, plague, and typhoid are present, but precautions can largely prevent illness for next winter visitors.
Secretary of the Navy Meyer canceled the Williams Engineering Company contract for No 4 dry dock at the Brooklyn Navy Yard due to insufficient progress. The 786 by 100 by 20 foot dock, about 15 percent complete, prompted potential re-advertisement or direct construction by the department to finish the facility capable of handling the largest battleships on the Atlantic coast.
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