Plan for Company Relief Presented to Board
The President reports to the Board after consulting with bankers that a relief plan exists. It aims to extend indebtedness and raise additional funds, with the expectation of a successful result if approved by the Board. The plan follows months of efforts to obtain extensions and necessary financing for continued business prosperity.
MENTIONED IN THIS ARTICLE
Ihereas
Wrerbas
Westinghouse needs four million capital to avert receivership
Warrens analysis shows a March 1 1891 balance sheet with a 3 308 611 45 floating debt. To meet obligations and expand operations the company must obtain 4 000 000 immediately. Without this capital a receivership or general assignment for creditors seems inevitable per the board’s judgment.
MENTIONED IN THIS ARTICLE
Warrens
Westinghouse Electric and Manufacturing Company
Plan for Capital Restructure and Reorganization Committee
A board plan details the nonincrease of authorized capital of 10,000,000 and the surrender of 40 percent of outstanding common stock by holders to fund a reorganization. It calls for conversion of 1,000,000 par value into preferred stock, creation of 4,000,000 preferred stock with seven percent dividends, and use of treasury stock for debts, working capital, and acquisitions of United States Electric Lighting and Consolidated Electric Light. A Reorganization Committee of Belmont, Fairchild, and Ives, with up to two additional members, will manage the process and gain substantial control. The directors urge stockholders to approve and surrender 40 percent of common stock to implement the plan.
MENTIONED IN THIS ARTICLE
Messrs
August Belmont
Marcellus Hartley
Henry B. Hyde
Brayton Ives
New York
Treasury
United States and Consolidated Companies
Reorganization Committee
Mesars
August Helmont
August Helmont & Co
Bankers of
Charles Fairchild
Lee, Higginson & Co
Bankers
Boston
Western National Bank
Ingby
Mercantile ‘Irust
Messrs. August Belmont & Co
Broadway
New York City
Westinghouse Electric and Manufacturing Company
Pittsburg
Messrs. Lye, Higginson & Co
Mass
Mercantile Trust Company
City of
United States Electric Lighting Company
Consolidated Electric Light Company
August Belmont & Co
Wubreas
Prime
Texas
Kentucky
Kansas
Westinghouse Electric
Westinghouse Electric Company
August
August Elmont
Henry B Hyde
Westinghouse Company
Atchison
Atchison, Topeka & Santa FE
ST. Louis
San Francisco
Colorado Midland
Card House of Government Credit
Europe
Rothschilds
London
Paris
Herald
Tamarack, Jr
Daniell
Rock House
Osceola Mining Company
Calumet & Hecla
Peninsular
Tamarack
West End
Stock Exchange
Money and stocks drift as gold shipments deepen dull market
Dullness and uncertainty grip Boston money markets with weak demand for funds, gold shipments widening the drain. Foreign tensions and a weak stock market depress sentiment as New York bank reserves fall and clearings decline. Atchison and Westinghouse plans loom amid earnings and reorganizations.
Market Decline and Gold Drain Weigh on Stocks and Bonds
The stock market closed near the week’s lows after a sharp late decline amid heavy gold shipments and bank funding strain. Stocks drifted on broad weakness, with Missouri Pacific and others showing some inside buying, while railroad bonds fell and several issues lost notably as traders covered into the last minutes. Government and railroad debt moved unevenly as financial conditions tightened.
MENTIONED IN THIS ARTICLE
Chicago
Sterling Exchange
Missouri Pacific
St. Paul
Southwestern
Hocking Valley
Iowa
Kansas & Texas
South Carolina
Virginia Midland
Historical Midyear Security and Dividend Entries
A sequence of quarterly and monthly share dividend notices across multiple firms including Boston and Marxe RR, Boston and Montana Mining Co, Calumet and Heena, Erie Telegraph and Telephone, Essex Co, Fort Wayne Electric Co, Lowell Machine Shop, Mazeppa Mining Co, Pullman Car Co, Thomson-Houston Electric, and Wheeling and Lake Erie RR. Entries list company names, dividend rates, and May or June dates with some shading on preferred or annual payments.
MENTIONED IN THIS ARTICLE
Ing
Alt
T. He
Seree
Atchison
Pacific
B&q
Lowa
Ches
Ohbio
Alton
del. & L
Den
K. Ga
Eos
Do Inc
Atla. & Pac. Inc
Green Bay
Central
Tex
Kings
Pem
H.&q
Go D. OX
Long Island
Penis Nash
Louis
N. A
Isis
Wis
Eevee Mern
Wees
Con
Ceniessseeee
Dd. L
Min
M. & Ohio
Ereer . O. & St
N. Y
N. E
N. W
Aeee Pee Eeesee
W.cen
Eeee
N.Y
Eere Eee
Uae
Atchigson
Aene
All. & Pac
Aib
Ohio & Miss
Low
West
Bost
Maine
Eree
Bost. & Proveree
Rock Island
Rich
W. Ee P
Tive Toleoe
Miehsee
W. Enee
Glas.s& Canton
Enee
Ant
Do Pref
St. Pau
Fitchburg
Wean
Seseere
N. H
Old Colony
Texas
Summit Branch
Eeer U. Mackay
Union Pac
U. Rij Bd.& Gulf
West End
DOU
St L. & Po
Wor, Nash, & Koch
Seer
Alloucz
Veers
Adams
Arnold Peweeeeree
Lls Atlantic
B & Mont
Brunswick
Butte & Bos
Cal
Catalpa
Duankin
Franklin
Oregon
Pacific Mail
Osceola
Santa Fe
Vamaracks
Tenn. C
Anniston City
Aspinwall
United States
Booston
W. Union
Boston
Boylston Street
Cambridge Field
Campobello
Cubier
Franklin Park
Gouldsdorod
D. C
Rg. G. M i
Pfd. Inc
Peenodscol
Erie
San Diego
St. L
Sullivan
Lowa C
West Ena
Winter Harbor
Winthrop
Wollaston
Mob
Ohio
Union
P. Am. Bell
New England
Shore
Phon
Toy
Commonwealth
Lamson
ASVOT
Gould & Curryesees
Cesse
Pal. Car
Col
Pepeereay Mexican
B. H
Hocking Coal
Diablo
Eeess
Poloss Wees Cere
Ontario
Escess P
Phoenix
Arizona
Utah
Eseseree
Bay State Gas
Detroit
Wayne
Eeae
Eevee
Illinois Steel
Eeeree Eens
Boston & Marxe RR
Boston & Montana Mining Co
Calumet & Heena
Erie Telegraph & Telephone
Essex Co
Fort Wayne Electric Co
Lowell Machine SuHop
Mazeppa Mining Co
Pullman Car Co
PSC Sc
Chicago & West Michigan R
Nashua & Lowell R
Old Colony Railroad
Pennsylvania
Atlas National Bank
Moehe
National City Bank
Seeueees Aes
National Bank of Commerce
Third National Bank
Ccce
Globe National Bank
Metropolitan National Bank
Merchants’ National Bank
First National Bank
National Bank
Second National Bank
Prescott National Bank
Lowell
Eee National Bank
Salem
National Market Bank
Brighton
Hamilton National Bank
Ceva Seeaweene
Rollstone National Bank
Mass
Amory Manufacturing Co
Eeede
Hamilton Manufacturing Co
Appleton Company
Seeeeeer
Nashua Manufacturing Co
Cccccees
AU Contenu MS Asses
Bates Manufacturing Co
Covcssslanlyg
Berkshire Railroad
Ceue Tesaee Lom
Chicago & Alton Railroad
Concord & Montreal Railroad
K. C
Fort Scott & Gulf Railroad
Granite Railway Co
Boston & Maine Railroad
New York & N. England Railroad
Boston & Lowell Railroad
Norwich & Worcester Railroad
Boston & Philadelphia Steamship Co
Lawrence Gaslight Co
Reece Buttonhole Machine Co
Boston Investment Co
Eceseeeeess
Mass. Real Estate Co
Taunton
Chi
Bos. & Liverpool Refrigerator Car Co
Malden & Melrose Gaslight Co
New England Telephone Co
Sexvanes
McKay & Bigelow Heeling Machine Co
Quincy Mining Co
Eastman Car Heater Co
Burton Stock Car Co
McKay Metallc Fastening Co
the Law Art Pile Coe
Charlestown City
Ogdensburg Transit Co
Astern Railroad
Lake Champlain
D Railroad of Vermont
Wakefield
Thomson-Houston Electric Co.Col. Trust
Hough. & On
Fitchburg Railroad
Lombard Invest. Co
Imperial Bank of Germany reports 3.68 million mark rise in specie
London markets quote Consols at 95 for money and 95 for account with New York and Canadian rail stocks listed. The Imperial Bank of Germany releases a statement showing a 3,680,000 mark increase in specie, amid various interbank price levels across Europe.
MENTIONED IN THIS ARTICLE
London
New York
Pennsylvania
Ohio
Canada Pacific
Erie
Illinois Central
St. Paul
Reading
Lin
Imperial Bank of Germany
Money on call and mercantile paper rates slip in New York
Money on call remains easy at 3 percent with a closing offer at 3. Prime mercantile paper shows reduced demand over the past week. The supply of first class names is not ample, but inferior paper is pressed for sale and rates are a bit stiffer.
MENTIONED IN THIS ARTICLE
Chicago
Boston
New York
Chicexo
Prime Mercantile
Auction Stock Listings Across Railroads and Banks Summary
A dense ledger lists numerous bank names and railroad stocks with percentages and batch values. Major entities include Boston based banks, national trusts, and regional lines like Pennsylvania Railroad and Chicago & Alton Railroad with varied yields and vintage issue notes. Nearby firms such as Nashua Manufacturing and Lowell Manufacturing appear alongside utilities and car companies, reflecting a broad market snapshot.
Also Mentioned on This Page
Office OF the
Westinghouse Electric and Manufacturing
The
Westing
House Electric and Manufacturing
George Westinghouse, Jr
Board of Directors
Morton,rose& CO
J.b.moors &Co
Devonshire Street
F. W. Ibisoa Co
Eastern Electric Cable Co
Thomson-Houston Electric Co
Thomson Houston Electric Co
Wayne Electric Co
Westinghouse Electric Co
European Welding Co
Detroit Electric
Boston & Maine Railergad
American Loan and Trust Company
State Street
Amos Blancheard
Consolidated Adjustable Shoe
American Loan & Trust Co
Phalen’s
North Salem
Naumkeag
Willows
Atchhison
Russia
Sso Veeres
Canada
Philadelphia
San Francio
Baltimore
New Orleans
Cincinnati
Kansas City
Louisville
Buffalo
Galveston
Sul
Milwaukee
Minneapolis
Providence
Cleveland
Omaha
Denver
Indianapolis
Memphis
Columbus
Duluth
Hartford
Richmond
Nashville
Portland, Or
Salt Lake
Washington
New Haven
Springfield
Portland
Worcester
Worth
Sioux City
Seattle
Norfolk
Tacoma
Rapids
Wilmington
Syracuse
Los Angeles
Wichita
Birmingham
Des Moines
Chattanooga
New Bedford
Lexington
Topeka
Lincoln
Montr’l
Can
Halifax
N.S
Houston
Rochester
Boston Stock Exchange
Westinghouse
Lamson Store Service Company
Martin-Hill Company
J. M. Corse
Flint
Pere Marquette
Eria Road
Villard Street
Pacific Mail Steamship Company
New London & Northern Road
Southern Pacific
Messrs. Richardson, Hill & Co
Brookline Gas Company
Northern Pacific
Wisconsin Central
Cat
T. Louis
I. Terses Inc
NEW York Stock Sales
ANG Vc Cvensceevecs
SE Lopnir Oece
Eeeweeee Chollar
Csss
Potosl
Hale & Norcross
Cocssevees
Evvcee
NEW York Financial
Eee
Fitchbare Railroad
Kierrey & Co
Oston, Mass
Kidder, Peabody & CO
Devonshire St
Boston, Mass
Baring, Brothers & Co., Limited
California
British Provinces
Choice
Kansas Ave
la Salle
H. C. Speer
Illinois
la Salle Street
Grand Pacific
Exchange Building
F. W. Prescott & Co
Hickest
Owen
LA Myc Ween Sversess
Enuir
Boston Library Society
Boylston Place
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