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Newspaper
Washington Post
Location
Washington, Washington Dc, United States of America
Date
Sep 03, 1911
Page
8
Reports from the War Department discuss limiting coast and field artillery duties to essential tasks, remount station economics, and officer retirement boards. Navy notes cover world cruises unlikely this term, yard closures, paymaster consolidation debates, and new destroyer propulsion plans with oil fuel and mixed turbine schemes.
A broad issuance lists dispatches of absence for Capt DOUGLAS SETTLE and a long roster of First Lieutenants and Captains of the Medical Reserve Corps to report to Col LOIS A LA GARDE for instruction at the Army Medical School. Additional officers are assigned to active duty, transfer details, and movements of units including Fort Jay command, Panama bound personnel, and related staff actions.
Talthmore reports firmer wheat with a spot price around 144 dollars. Corn, oats, rye show mixed strength in contracts and grades. Poultry prices vary by type. creamery and butter prices listed, with regional rolls and cheese prices noted. Wholesale quotations given for Maryland Pennsylvania areas and nearby markets.
Money markets show increased demand and higher discount rates in London trading. In New York, sterling exchange remains steady with actual bankers bills quoted around 4.08 for holey billie and 4.08 for demand, while commercial bills value around 4.13 and 4.00 for other rates.
Wall Street stocks closed with mixed gains for the week as railroad wage dispute tensions rose. Union Pacific and Southern Pacific reported July revenue declines, while Harriman lines faced looming strikes. Officials argued wage increases could harm dividends, and Pennsylvania System showed lower gross revenue. Attorney General Wickersham and Justices Lacombe and Noyse met with American Tobacco counsel to advance a securities readjustment plan, extending deposit deadlines for preferred stock and bonds.
New York reports a substantial drop in bank reserves as of September with excess reserve down by 3 786 050 amid large cash shipments. The actual and trust company statements show decreased loans and deposits while circulations rise slightly, signaling shifting liquidity and federal reserve dynamics.
Local money market last week remained healthy with above average mortgage loans at around 5 percent, some at 4 percent. Deeds of trust totaling 489 269 were placed on 187 properties, with purchase money leading. notes and straight loans totaled 299 752.46 and 157 766.16 respectively. Railways received Inter state Commerce Commission approval for lower cotton goods rates to Ohio and Mississippi River transfers, with review rights. Bids for scrap metal from the Panama Canal Company debris will open in September, as the canal project nears completion. Banking and brokerage activity is expected to rise after Labor Day as workers return.
Wheat closes higher on short coverings and bullish foreign buying as traders anticipate holidays and harvest shifts. Corn and oats gain modestly while hog products vary. Winnipeg exports and Danube supply influence prices. Kansas freight discrimination case and highway route inspections appear in nearby notices.
The metal markets opened slowly in New York with the stock exchange closed for the holiday. Copper and tin prices showed limited activity with quotes around 12.60 to 12.70 for copper and similar narrow ranges for tin.
Philadelphia market report lists wheat at half cent higher No 8 red in export elevator 46 corn up half cent No 2 yellow for local trade 73 73 percent oats firmer No 2 white natural 474 947 percent cream cheese firm New York full creams fancy butter steady poultry summaries show live birds dressed poultry steady and fresh killed fowls nearby Western markets for eggs potatoes steady Jersey price 65970.
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