Wall Street Slump Follows Feverish Speculation In Stocks
Heavy selling follows a day of extreme volatility as investors chase specialty shares and industrials. News of possible money and gold movements, plus merger talk and a rumored mayoral ballot recount, push readings, with Reading and St Paul among notable movers.
MENTIONED IN THIS ARTICLE
Wall Street
Fron
Tennessee Coal
Lead
Lst
St. Paul
Treasury
Pacific Coast
Sub-Treasury
South America
London
New York
Boston
Eccoes
State Street
Tennessee Coal & Iron
Anaconda
Sloss- Sheffield
Union Pacific
Louisville & Nashville
Southern Iron Properties
National Lead
United Lead
Hst
Hearst
Reading
Amalgamated
Brooklyn Rapid Transit
Erie
American Woolen
Boston Curb Market Gains Highlight Mining Stocks
Trading on Exchange Place focused on Utah Copper Nevada Consolidated St Marys Mineral Land and Black Mountain. Nevada Consolidated led with chatter of a soon listing while Black Mountain surged near the end from about 14 to 20 12. Prices for Arizona Commercial Bingham group Idaho Development Majestic Nevada Consolidated Rotary Ring and Utah Apex moved with various closes and bids.
MENTIONED IN THIS ARTICLE
Exchange Place
Utah Copper
Nevada Consolidated
St. Mary’s Mineral Land
Black Mountain
St. Mary's
Commission House
Mining and Stock Exchange
Arizona Commercial
Bingham Group
Idaho Development
Majestic
Rotary Ring
Utah Apex
SOULE
Arizona
Bay State Gas
Calumet
Pittsburg
Seeesees
Junction
Mexico
Nevada Consolidated Ener
Nevada-Utah
Pittsburg & Duluth
Mary’s Mineral Land
Utah
Apex
Allouez Mineeeee
Bos, Am Ag Chem
Tel & Tel
Arch
T&s F
Atlantic
Boston
Albany
Boston & Maine
Eleo
Aig
Conn River
bCon Mercur
Cumber Tel & T
Daly-West
Dom Iron & Steel
Fitchburg
Michigan
United See
United Fruit
United Shia
Coal & Oil
U S Min
U S Steel
oVictoria
End St Ry
Western Tel & T
Winona Min
Wolverine
Wrandot
West End Street Railway Posts Ledger With Bond Activity
At the annual meeting the West End Street Railway presented a balance sheet for 1905 alongside 1904 and 1903 figures. President Russell noted unaudited accounts for 18 months ending April 1 1905 and described May 5 1905 bond issues used to retire South Boston Horse Railway bonds.
MENTIONED IN THIS ARTICLE
West End Street Railway
Russell
South Boston Horse Railway Company
American Loan & Trust Company
West End Street Railway Company
Charles River Street Railway Company
South Boston Railway Company
Boston Elevated Railway Company
Japanese government sterling loan opens with strong demand
Kuhn, Loeb & Co. National City Bank and National Bank of Commerce underwrite 3.25 million pounds as part of a new Japanese government sterling loan. Indications point to oversubscription though books opened only yesterday. Total authorize 50 million pounds, 25 million now issued to redeem high rate internal loans. 25 million reserved for external loans in 1904. Old Colony Trust, Kidder Peabody, and Lee Higginson serve as New England agents.
MENTIONED IN THIS ARTICLE
Kuhn, Loeb & Co
National City Bank
National Bank of Commerce
England
United States
Old Colony Trust Company
Kidder, Peabody & Co
Lee, Higginson & Co
New England
London
Paris
New York
Germany
Yokohama Specie Bank, Limited
NEW York Stock Exchange
Messrs
Boston
Fidelity Trust Company
Girard Trust Company
Sailer & Stevenson
Philadelphia
Illinois Trust and Savings Bank
Merchants’ Loan and Trust Company
Chicago
Francis Bro. & Co
A. G. Edwards & Sons
St. Louis
Dividends Payable Notices From Several Firms
The record shows GE declares quarterly dividends at 2 percent with payment due January 16. Chicago Indianapolis Louisville Railway sets semi annual at 2 percent for preferred 1 percent for common with Dec 29 date. American Chicle declares monthly 1 percent common with Dec 20 date.
MENTIONED IN THIS ARTICLE
General Electric Company
Chicago, Indianapolis & Louisville Railway Company
American Chicle Company
Shorts In Wheat Cover Help Market Close Firm
Shorts covered in the wheat market keeping gains despite bearish news. May wheat up 8 8 at close, corn down 1 8, oats up 1 8, and provisions strong with 2 1/2 to 40 cents higher. Liverpool decline and favorable Russian crop conditions cited as factors. Trading mainly by pit traders.
MENTIONED IN THIS ARTICLE
Shorts
Chicago
Liverpool
Russia
Chicago Grain Quotations and Market Summary
Ennis and Stoppani report Chicago grain mixed with wheat showing small advances after noon buying by Armour interests. Wheat, corn, and oats futures fluctuate under local selling and favorable Argentine weather, with overall tone steady to firmer and indications of a further advance. The report notes steady corn and oats with local business driving activity.
MENTIONED IN THIS ARTICLE
Ennis & Stoppani
Chicago Board of Trade
State Mutual
Claeek High
Chicago
Armour
Novel Exhibition of Office Inventions and Furnishings
An exhibition in Administration Hall features office furniture from mahogany desks to steel fireproof desks and new time saving devices. Highlights include an electric adding machine, an address changing letter printer, a pen manufacturing machine, cost tracking time recorders, filing cases, telephone aids, billing and duplicating equipment, and fast envelope moisteners.
MENTIONED IN THIS ARTICLE
Mechanics’ Building
Chester I. Campbell
Madison Square Garden
New York
Hughes Policies and New York Life Under Scrutiny
In a legislative inquiry, Charles E. Hughes exposed a Mutual Reserve Life policy with a clause allowing the executive committee to demand multiples of the premium. Testimony described stock movements at New York Life and a scheme involving New Orleans Traction bonds used as collateral for a loan, with profits shared with the NY Life fund trustee.
MENTIONED IN THIS ARTICLE
New York
Legislative Insurance Investigating Committee
Charles E. Hughes
Mutual Reserve Life Insurance Company
George D. Eldredge
Hughes
Central National Bank
Randolph
Merchants’ Trust Company
New York Life Insurance Company
George H. Squire
Equitable
New York Security and Trust Company
Andrew Hamilton
New York Life
W. S. Fanshawe
New Orleans Traction
George W. Perkins
Receiver for Pink Granite Quarries Appointed by Court
In Milford, Judge Colt named Ralph A. Stewart of Boston as receiver for the Pink Granite Quarries following a petition by the Franklin Trust Company of Brooklyn. Stewart posted a $100,000 bond. The complaint accuses Orlando W. Norcross, president of the quarries and Norcross Brothers Company, of self dealing by selling quarry granite to the Pennsylvania Railroad at a loss of over $200,000 off standard charges.
MENTIONED IN THIS ARTICLE
Franklin Trust Company
Brooklyn
Ralph A. Stewart
Boston
Milford
Colt
United States District Court
Stewart
Orlando W. Norcross
Norcross Brothers Company
Pennsylvania Railroad
Also Mentioned on This Page
United States Mining
Greene Consolidated
Utah Consolidated
North Butte
Old Dominion
American Woolen Common
Massachusetts
Mohawk
Tamarack
Parrott Company
Curtis & Sederquist
Houghton
J. A. Coram
Butte
Manana
Corra
United Copper Company
Old Belt
Lake Copper Company
Lake
Soulbe
Amalgamated Ee
Car & Foundry
Atchison A Eee
Atlantic Coast Line
Baltimore & Ohblo
Canadian Pacific
Chesapeake & Ohio
Chicago Great Western
Chicago & Northwestern
Mil & St Paul
Chicago Ter & Trans Pr
C & St Louis
SOO
Colorado Fuel & Iron
Colorado & Southern
Agi
Consolidated Gas
Delaware & Hudson
Denver & Rio
International Paper
Iowa Central
Kansas City Southern
Manhattan L
F2u
Metropolitan Securities
Metropolitan St Ry
St P & S
Ste M
Missouri Pacific
New York Central
Ontario & Western
Norfolk & Western
Pacific Mail
Pennsylvania
Blais
Republic Steel
Rock Island Co
Sloss
Sheffield Ee Teen
St L & S F
St Louis Southwestern
Southern Pacific
Southern Railway
Texas & Pacific
Toledo, St Louis & West
T S Express
U S Realty
Ee Eeeeses
US Steel
Virginia Ganglia
Wabash Eee
Corey, Milliken & CO
Bankers and Brokers
State St
Daly West B. R. T
Colonial Bldg
Boylston St
Bell Tel
M & B Tn
NEW York Bonds
Japan
N J
Bal & O
Nor Pac
Do 1St Inc
Penn c $S
Stl&smc
B&q
Ri& P
Stl&w
US Steel 2d
Wabash
D & RG
Erle P
W & LE
Busi
Imperial Japanese Government
Imperial
His
Emperor
Yokohama Specied Bank, Ltd
Messrs. DE Rothschild Freres
Deutsch-Asiatische Bank
Berlin
Reichsmarks
Parr’s Bank, Ltd
Hong Kong & Shanghai Banking Corporation
Yokohama Specie Bank, Ltd
Messrs. N. M. Rothschild & Sons
Messrs. Kuhn, Loeb & CO
DE Rothschild Freres
Bank For Handel & Industrie
Bayrische Hypotheken
Wechselbank
Munich
Messrs. Born & Busse
Messrs. Delbrueck
LEO & CO
Deutsche Bank
Dresdner Bank
National Bank Fur Deutschland
Norddeuts
Bank OF Japan
William and Pine Streets
N. Y
Nassau Street
Edmund D. Randolph
New York City
Pink Granite
Ralph Stewart
Brooklyn Trust Company
Wilson Bros
John
Ed. Wilson
Wilson Bros., Jewelers
Wilson
Hanover St
Tremont Row
Court St
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