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Newspaper
Washington Post
Location
Washington, Washington Dc, United States of America
Date
Oct 25, 1911
Page
2
Washington Post report from New York details a dull market with light day trading. New York Air Brake rose while American Cotton Oil fell on dividend doubts, and Norfolk and Western plus Missouri Pacific showed strong advances amid hard coal stock strength.
Philadelphia markets show weakness in wheat with No 2 red in export elevators and firm prices for corn and oats. Butter remains firm with Western creamery quotes around 33 to 35 cents. Eggs steady with varied case prices. cheese steady with New York full cream quotes. Poultry firm to higher with live fowls and chickens up, turkeys mixed. Credit balances and shipments noted for city and region.
Special to The Washington Post from New York reports mixed trading on the stock exchange as Devore and Doyle sparked brief cheers in a rally, then a bear-laden selloff after Philadelphia news. Turnover was 196,000 shares. Prussian treasury bills sold readily amid higher rates. Copper and Rio Tinto shares rose. cotton weakened despite cold weather forecasts. Norfolk and Western edged up, hinting at a possible dividend increase. NY Central lagged.
Spot prices for wheat corn and oats were barely steady with no. 7 red wheat export basis at 1.03 and futures easing on foreign crop signals and stock gains. Receipts and shipments figures are listed, while oats and corn futures remain nominal amid light activity.
New York money market quotes show money on call steady at 3?% with bids at 2?% and offers near 7?6%. time loans at 1% for sixty days and other periods. prime mercantile paper around 4?% to 4?%. sterling exchange steady with bankers' bills at about 133.16 for 60 days. commercial paper listed with brief figures under government.
Washington stock market opened firm with intact demand for stocks and bonds. Trading focused on Washington Gas and Railway stocks with Mergenthaler up a point. Green Cananea Copper rose on dividend rumors though no sale occurred. Proposals to regulate savings banks and uniform customs appraisals dominated discussions alongside a capital raise for Commercial Fire Insurance.
New York notes list nine applicants for Commerce membership, eight put forward by Secretary Thomas Grant, with addresses for each candidate. Other items include American Mining Congress invitation to Washington, park site debate for Central High athletic field, and updates on currency, taxation, imports and market prices.
Wholesale fruit and vegetable bids in good demand with ample apples. Eggs scarce and firm. Chestnuts plentiful but demand light. Various prices listed for eggs poultry cheeses greens and fruits including apples potatoes cucumbers onions cabbage peppers tomatoes and oranges along with several boxed fruit crates and baskets. Specific region prices include Virginia Maine Tennessee California and Catawba Concords Niagara and Delaware grapes.
Robert Gilland a South Dakota Indian was freed after the United States Supreme Court reversed his murder conviction. Chief Justice White announced the unusual decision saying a vital error occurred in Gilland's trial in South Dakota for killing his cousin Thomas Powers. The government had already conceded error, prompting the reversal and remand to the lower court for further action.
The Supreme Court began considering the Alaskan coal land case involving Charles F. Munday and Archie W. Shiels indicted for conspiring to defraud the government of Alaska coal lands valued at about ten million dollars. The court will assess whether Western Washington's dismissal of the indictment was correct while Solicitor General Lehmann presents the government’s argument. E C Hughes and Charles W Dorr of Seattle represent the defendants.
The fifth government suit to dismantle the lumber trust opened in a St Paul federal court. It targets the Northwestern Lumberman's Association the lumber secretaries bureau Luke W Boyce head of a Minneapolis detective agency Platt B Walker editor of the Mississippi Valley Lumberman and other officers or directors of the Northwestern Lumberman's Association. The government alleges the lumber trade has been unreasonably restrained by legal agreements.
Gen Thomas H Hubbard of New York was elected a director of the Chesapeake and Ohio Railway to replace Frederick W Scott of Richmond. James H Pooley of Richmond withdrew his resignation and was reelected as director. President Stevens reported the road was in better physical and financial condition than stock market reports suggested.
The New York cotton market opened lower with selling pressure and a broad move toward evening up for the census report. Prices fell about 12 points for January, traded near last week’s lows, then rallied briefly before easing again on reports of a bearish cotton ginning outlook. spot closed 10 points down, upland 9.30, gulf 9.60. Seven futures offerings closed with varied lows, October near 8.01, December around 8.18.
Baltimore market report lists spot contracts and grades for wheat including Master 99 percent, Easier 79, and No 2 white 51. Poultry prices cover live chickens, ducks, geese, turkeys, and eggs with per pound rates and quality distinctions. dairy and creamery items shown with varying prices.
Harry B. Clarke, late of St John New Brunswick, was arrested in New York on a charge of stealing 7000 from the Bank of New Brunswick where he served as manager. Held without bail as a fugitive, he faces additional charges of larger losses linked to a stock-promoter scheme. Clarke allegedly kept about 5000 of the bank’s cash after learning of the alleged swindle and fled.
Berlin reports the emperor and empress hosted John G. A. Leishman at the royal palace. The newly appointed American ambassador to Germany was given a lengthy private audience after presenting credentials, with the imperial party traveling from Potsdam in a royal carriage.
Chicago receipts show cattle weak to lower with varied classes across Texas and Western steers and feeders. Hogs are slow with price ranges around 5.85 to 6.60, bulk about 6.26. Sheep and lambs in Chicago steady to up slightly, New York quotes weaker on beef and meats with mixed calf and lamb prices.
Veal calves in good demand at the Washington cattle market. Hog prices per cwt rise. Sheep price per pound shown as 2.14 to 3. The lambs, choice, per pound at about 4.5 to 5.5 percent. Veal calves, choice per pound around 38. Median price per pound 8.8. Calves tan or tan calves at 1.90.
Tokyo October 24 Gen Count Oku chief of the general staff is promoted today to field marshal in a historic honor. The announcement confirms the senior military advancement within the imperial forces.
Mary J. Kendall of Rapids City South Dakota drew No 1 at the opening of the drawing for four thousand Rosebud land allotment prizes. The number is estimated to be worth about ten thousand dollars.
Chicago Oct 24 reports a dampened wheat tone as Minneapolis flour mills shut down reshaping sentiment. Cash demand steadies while European and Argentine crop conditions pressure bears. Barley prices range with mixed open high and low closes amid shipping delays and a partial market recovery later.
New York copper markets held steady with spot October and future prices listed. Reports show 90 tons arrived in New York and exports for the month reach 16,686 tons. In Newburgh a 180 pound buck deer swam the Hudson River and was struck by a West Shore train near Ionia Island this afternoon.
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