Money Crisis Analyzed Banks Hold Steady Through War Turmoil
The financial column analyzes how banks met the money crisis triggered by the European war, comparing current loan and cash ratios with past crises. It notes a 11.7 percent cash to loans ratio the lowest since 1883, the role of emergency currency, and indicates hopes for restoration of normal credit with talks in Washington on foreign debt payment and the upcoming Federal Reserve setup.
MENTIONED IN THIS ARTICLE
Comptroller
George Paish
London Economist
Treasury
Washington
George
United States
England
Federal Reserve System
Federal Reserve Banks
Federal Reserve Systems J
New York
Fall River Gas Works declares dividend No 80 for 1914
A quarterly dividend of 8.00 per share is declared on the capital stock of Fall River Gas Works Company payable November 2 1914 to stockholders of record at the close of business October 22 1914. Stone Webster Transfer Agents.
MENTIONED IN THIS ARTICLE
Fall River Gas Works Company
Stone & Webster
Colorado Fuel Passes Dividend and ReElects Officers
A Denver despatch reports that the Colorado Fuel & Iron Company has passed its annual preferred dividend, with freighters and officers re-elected. President Wil born notes a 40 percent drop in coal output for the year ended June 30 due to a strike and weaker rail orders. Manufactured steel value was 12 million, with 2 million outside the state and 10 million paid in Colorado for rents and wages. The firm employs 12,000 men.
MENTIONED IN THIS ARTICLE
Denver
Colorado Wuel & Tron Company
Bering Freeters
Wilborn
Colorado
Perkins Urges State or Federal Control of Stock Exchanges
George W. Perkins, in a statement issued yesterday, urged either State or federal supervision of stock exchanges as a prerequisite to resuming business. He argued the exchange is now an international market and needs official control to restore public confidence and protect investors.
MENTIONED IN THIS ARTICLE
George W. Perkins
Stock Exchange
Exchange
Mason Valley Mine to Close Down
The Mason Valley Mines Company will curtail copper production by closing both its mine and smelter. President W. H. Aldridge cites low copper prices and reduced shipments as causing the shutdown and notes that the quarterly statement for the quarter ended June 39 was omitted until final results can be determined.
MENTIONED IN THIS ARTICLE
Mason Valley Mines Company
W. H. Aldridge
Brazil Plans $75,000,000 Bond Issue for Debt Funding
From J oendan comes the announcement that Brazil will fund its external debt in England via Rothschilds. The plan issues 5 percent bonds not to exceed 75.9 million dollars for three years from August 1. Sinking funds and redemption of existing loans are suspended for 12 years. New bonds secure a second lien on Rio de Janeiro customs and extend to other ports.
MENTIONED IN THIS ARTICLE
J.oendan
Brazil
Juigland
House of Rothschilds
Janeiro
Butte and Superior Mill Flotation Plant Closes
The Butte and Superior mill flotation plant will close Monday night with 175 men retained for repair work on mine and mill. The remaining workers are laid off. In Butte it is stated the property may stay closed until after the first of the year.
MENTIONED IN THIS ARTICLE
Butte & Superior
Butte
New York Bank Loses Local Suit Over Cuba Railroad Stock
In U S district court Judge Morton denied Columbia-Knicckerbocker Trust Company of New Yorks bid to resubmit to auditor James T. Jackson the suits over subscriptions to the Northastern Cuba Railroad Co. The bank sued Abbot Keith Ames Evans Cordingley and Ames to recover balances due and seeks recovery of payments claimed as due to alleged misrepresentations. James F. Jackson ruled against the trust company.
MENTIONED IN THIS ARTICLE
Morton
United States District Court
Columbia-Knicckerbocker Trust Company of
New York
James T. Jackson
Northastern Cuba Railroad Co
Edwin H. Abbot
Preston B. Keith
John 8. Ames
George S. Keith
Robert D. Evans
Mary C. Cordingley
F. L. Ames
WARM CONTESTS OVER ROCK ISLAND BONDS
N L Amster of this city opposing the Wallace committee in the deposit contest for Rock Island collateral trusts claims about 4 000 000 of the bonds. Bondholders joined Amster on Monday and more yesterday. Deposits with the Wallace committee total 233 733 000 to date of 71 353 000 outstanding. Monday the committee received 1 199 09 bonds.
MENTIONED IN THIS ARTICLE
N. L. Amster
Wallace Committee
Rock Island
Mr. Amster
Wallace Protective Committee
Wolland
Portsmouth Bond Sale Successful
Portsmouth New Hampshire sold its 57 000 four percent bonds at par under an over the counter plan. Subscriptions totaled over 125 000 with the entire issue claimed. Awards went to smaller subscribers with two at 100 dollars and others at 59 or 1609 dollars. Bonds are serial with an average maturity of 11 years.
MENTIONED IN THIS ARTICLE
Portsmouth
N. H
Detroit Stock Exchange snapshot with mixed moves
Detroit stock quotes show S. S. Kresge down four points to 68 on the Detroit Stock Exchange. American Utilities preferred slips one, Detroit Edison off half, GM preferred up 55 eighths ex-dividend to 85. Detroit Electric and other Detroit issues trade. notes list Reo, Mexican Crude Rubber, and Michigan State Telephone bonds with various bids.
MENTIONED IN THIS ARTICLE
S. S. Kresge Common
Detroit Stock Exchange
American Public Utilities
Detroit Edison
General Motors
Reo Motor Car
Detroit Electric
Detroit United
Michigan State Telephone
Boston curb market slips and gains on Oct 20
Nevada Douglas prices tumble to a new low before rallying to 40 cents to close down 2 cents. Verde Extension gains to 11 16, Stewart strong at 11 16, First National Copper slides to 76 cents from 5 dollars five cents, Eagle & Blue Bell drop to 6 cents, Calumet & Corbin down to cents, Chief up to 9 cents, Buffalo at 86 cents, Old Dominican receipts back to July 30 level, Jumbo Extension off 3 cents to 39 cents, McKinney Darragh down 2 cents to 42 cents.
MENTIONED IN THIS ARTICLE
Nevada
Douglas
Verde
Stewart
Bay State Gas
Calaveras
First National Copper
Chief
Eagle & Blue Bell
Calumet & Corbin
Buffalo
McKiney Darragh
Staveras
Corbin
Davis Daly
Fagle
Oni
San MicKintey Derragh
Nevada Douglas
Ry Stewart
United Verde
Grain Markets Report Shows Wheat Dip Amid Wheat Rally
A natural reaction in wheat followed a late rally with long profit taking. Wheat closed lower by 15-4 and 17-8. Corn remained relatively firm despite wheat weakness, with December down ¾ and May down ½ to 5-8, while oats slipped 1-4 to 3-8 after early gains.
Boston Money Market Quotes and Clearinghouse Figures
Oct 20 market notes show broker loans at 6 percent and up, outside broker loans at 6 percent plus, and commercial paper at 7 percent and up. Year money also 6 percent plus, with New York clearinghouse and Sub-treasury balances and exchanges totaling 205 million plus. New York banks posted a net gain of 1.45 million after yesterday’s Sub-Treasury operations, net gain since Friday about 51,000.
MENTIONED IN THIS ARTICLE
Boston
Stock Exchange
New York
NIB Clearing House
New ‘York Fund
Treasury
Money Men Confering at Capita f
Financial activity centers on Washington where British finance officials meet with U S Treasury officials and major banks to shape exchange policy and a planned cotton pool while the Fed resists full responsibility. London exchanges weaken as grain exports set records and steel and copper face bleak prospects amid easing money rates and ample call funds.
Washington as Seat of Ongoing Negotiations Relating
Washington remained the center of ongoing negotiations with key officials and delegates continuing discussions on a range of policy and diplomatic issues. The report notes persistent effort to reach agreements amid tied political positions and regional interests.
Bondholders urged to deposit bonds under Chicago Rock Island plan
The committee proposes a plan to distribute pledged stock to depositing bondholders of the Chicago Rock Island & Pacific Railway. Bonds must be deposited with Central Trust Company of New York at 54 Wall Street in New York City, with coupons and taxes handled. Certificates of deposit will be issued in bearer form with registration privileges. The deposit list will be prepared for NYSE listing. Immediate action is urged to enable the plan’s consummation and stock distribution, as cash for non-depositing holders is unavailable. Dated October 10, 1914, at New York.
MENTIONED IN THIS ARTICLE
Central Trust Company OF
New York
Wall Street
New York City
New York Stock Exchange
Copper Prices Slip To New Low On Market Decline
Copper prices fall again as new low sales are reported at 11.14 cents per pound. The market shows continuing weakness over 30 days with buyers watching demand and supply dynamics amid ongoing price pressure.
MENTIONED IN THIS ARTICLE
Lake
Michigan
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Kidder, Peabody & CO
Devonshire Street
Investment Securities Commercial and Travellers
Letters of Credit
Baring Brothers & Co., Ltd
London
Jannars
Peary
Steel
Amalgamated
Fall River
Massachusetts
Colorado Fuel
Financial News Notes
Portland
America Soda Fountain Company of
Maine
American Soda Fountain Company
Isaac F. North
James N. North
Charles F. Pope
Leonard Tufts
Consolidated Gas Company of
Barnes King
Tuolumne
Michigan State Railroad Commission
la Rose
Victoria
Lake Superior
The
Great Northern Railway Company
Wheeling & Lake Erie
Nipissing
New York Cotton Exchange
Pacific Gas & Electric Company
Massachusetts Lighting
Aldrich
Chicgo Stock Exchange
Investment Bankers’ Association of America
G. W. Perkins
Mason Valley Mine
NEW York Bank
Columbia-Knickerbocker Trust
North
Cuba
Wallace and
Amster
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Toledo
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Roward
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Harry Seymour
Carol Schrader
Sally Stewart
Rene West
Lynch
Zeller
Tascott
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Miller
Maurice Prince
D’alma
Zeno
Old Howard
Howardgram
Golgrial Chas, Frohman & Wim. Harris, Lessees & Mer
Loews Orphen
Scollay
Lymp Bally
Theid
Wes, St., Near
Boylston
Wilbur
Greas
RR Sap
Hamines
Ph Castle
Oxford
Craig
Ne’er
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Winter St
Madaywe
Columbia Phony Co
Tremont St
Shingtom
Wm. Elliot
Madame x
Onpon
Olympia
Wat
Clayton Hamilton
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Erin
Tremont & Berkeley Sts
Rwe
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HilSa
Pember Ted
Tok
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Saimig
Wright & Ditson
Filene
Leavitt & _Peirce
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Gabriele D'Annunzio
Cabiria
Theatre
Rvjafira Creo
Rigoletto
Ardini
Gentle
di Crescenzo
Blanchart
di Biasi
Florian
LA Boheme
Kristof
de Phillippe
Cicc Radetti
Gallazzi
di Biasi Presini
Olini
Barber OF
Ceville
Maschera
Carmen
Tatalian
Favorita
Eve
Otello
Sat
Faa
Mat
Efe
Chicago, Rock Island & Pacific RR. Co
Jolin E. Larkin & Rathbone
Cravath & Tenderson, Counsel
C.F. Sigler
James N. Wallace
Bernard M. Baruch
James Brown
Henry Evans
Charles Hayden
Frederick Strauss
Ec Ours Re
Ipposite Revere
Scollay Sq
Arthur Sullivan & Company
Pierre
Edgar Selwyn
Royal Northwest Mounted Police
Naynor
Kashima
Tom
Edith Almond
Joe Eagan
Geo. Driscoll
Hollis
Chas.Frohman
Rich & Ma
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Tara
Henri Bernstein
Shubert
Te Whirl &World
John Cort
Oliver Morosco Presents
Peg D
Ivy Heart
J. Hartley Manners
Ree Ilcew
NEW Globe
Old Globe Theatre
Wash
Lis Snr
Newe
Eddy Poyer
Cook & Stevens
Baily
Tsual Loew
B.F. Keith
Amelia Bingham
Belle
Jack E. Gardner and Co
Curse Leipinsky
Ryan & Tierney
Ferrell & Co
You
Jack Dalton
Kingston & Ebner
Shannon & Annis Pathe Weekly
Arthur Prince
Sylvester Schaffer
Havana
Senor
Tomas
Toma. Iba
Emma Hanko
South Station
Forest Hills
Readville
Paul Thomas
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