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Newspaper
Atlanta Constitution
Location
Atlanta, Georgia, United States of America
Date
Feb 05, 1904
Page
1
Forecasts show fresh east winds and mild temps as Georgia towns report varied events. Key items include the Atlanta government budget dispute, church activities, rail merger talks, a local murder acquittal, and regional political developments with national implications.
Ground broken on triangular Peachtree Houston and North Pryor site for a new seventeen story Atlanta skyscraper to cost over 750000. American Bridge Company of Pittsburgh awarded the contract, with Merrow Transfer handling earthworks. Excavations may reach 6 000 to 10 000 dollars, nine to eighteen months planned, architect George Murphy emphasizes safety and artistry.
Washington February 4 There is no distinct change in Senator Hanna’s condition though physicians report no alarming symptoms and express hope he will recover. He rests well, blood tests are pending, and a full recovery is expected if no untoward developments occur within a week. Food intake remains liquids only as his strength remains greatly weakened.
The Royal Mail steamer Trent arrives from Savanilla and Cartagena with reports of excitement over the presidential election. General Raisel Reyes is said to carry Bolivar, Joaquin Valencia favored. War scare persists at Savanilla and Cartagena as Cartagena harbor observes activity of the Neshuttle and the Banker.
Washington reports that authorities expect a decision on war or peace tomorrow as tensions rise in the Far East. Dispatches describe grave attitudes at Russian and Japanese missions, with Russian naval movements and fears of imminent hostilities. A Russian fleet return is noted, and Lloyds premiums surge on war risk.
Tokio reports indicate Russia may move on Korea as a state of siege looms for Japanese residents. Russia- Japan tensions rise with troop movements in Manchuria and Yalu, while Britain and the United States watch for shifts in policy and possible war.
New York February 4 war rumors sent cotton prices sliding as traders anticipated lower demand. In a separate court scene, Eliabeth Foley sued for 15000 damages after a street hole caused her fall. Counsel for the city argued the accident made her interesting, claiming she found a good husband. Jury balked at the plaintiff and the case may be appealed.
After repeated talks the Sheldon reorganization committee and bondholders protective committee reach a new plan in the United States Ship Building affair. Charles M Schwab to receive 9 million in preferred and 6 million in common stock with other changes, a new 30 million capitalization, and a syndicate to market 390 million in collateral trust bonds. Formally, the reorganization committee will include Fairchild Fisk Wetmore Nathen Untermeyer, and the litigation is effectively ended though bond fraud questions may be pursued.
In New Orleans on May 15 a dramatic fall in cotton futures triggered panic on the exchange. Prices swung from near yesterday’s close to 68 to 180 points lower as war news from Japan and Russia swept through traders. A chaotic rush followed, with brokers sprinting to sell amid smashed hats and ransacked rings, yet by close bulls regained control and buying resumed, leaving a sold-out market.
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