Day of extreme stock frenzy on Cincinnati Third Street
A Cincinnati rally on Third Street mirrored a New York Wall Street slump with frantic quotations, 300 traders watching prices as brokers fainted and clerical staff logged record activity. Local banks stayed steady and conservative brokers held the long side, while the city avoided heavy losses and awaited aftershocks.
MENTIONED IN THIS ARTICLE
New York
Cincinnati
Third Street
Stock Exchange
Columbus
Cincinnati Brokkers
Neinnati
Chicago
Department of Many
Chamber of Commerce
Carnegie quotes a Bible lesson at iron and steel meeting
London April The Iron and Steel Institute opens with Andrew Carnegie among key attendees. President William White Hill urges adopting American methods. William Garrett says Britain’s iron and steel supremacy is lost. Carnegie pledges 6500 pounds for research and doubles it. He urges focusing on domestic material and markets, citing Cleveland iron and United Kingdom opportunities.
MENTIONED IN THIS ARTICLE
London
Iron and Steel Institute
Great Britain
Andrew Carnegie
William White Hill
William Garrett
Cleveland
Mr. Carnegie
America
United Kingdom
Paralyzed Trader Dies After Market Rush at Wheeling Shop
Captain Jack F. Merriman collapsed at Ward & Co. bucket shop during a rapid market fluctuation. He was taken to City Hospital, regained consciousness briefly, then died two hours later. An old resident, he had recently focused on railroad and industrial stocks.
MENTIONED IN THIS ARTICLE
Commercial Tribune
Wheeling
W. Va
Jack F. Merriman
Ward & Co
Merriman
Former Governor Charles Foster Files Bankruptcy in Toledo
Charles Foster ex governor of Ohio and former Secretary of the Treasury filed a voluntary bankruptcy in a Toledo federal court. The petition lists total liabilities of 747000.34 with 100000 owed to creditor W L Harkness of Cleveland secured by stocks in Fostoria Stave and Cunningham Company.
MENTIONED IN THIS ARTICLE
Commercial Tribune
Toledo
Charles Foster
Ohio
United States
W. L. Harkness
Cleveland
Fostoria Stave and Barrel Company
Cunningham Company
New Lu cas well reaches 175 feet at Beaumont
The J. M. Guffy Company strikes McFaddin No. 3 near the Lucas gusher on the same tract, about 600 feet west. The well spouted briefly, reaching 175 feet, and is expected to add to the field’s oil output, with Guffy and Lucas totaling five wells and an estimated 5,000 barrels daily.
MENTIONED IN THIS ARTICLE
Commercial Tribune
Beaumont
Tex
J. M. Guffy Company
McFaddin
Captain Lucas
Guffy Company
Lucas
Mr. Galey
Guffy
Careey BP
Remarkable Features of the Great Panic on Wall Street
Yesterday's Wall Street activity featured record losses and gains led by Colonel John W. Gates losing over 4 million and J. R. Keene with 7.5 million. Northern Pacific stock swung wildly from 182 1 2 to 145, with cascading declines in many issues. Thousands of speculators wiped out but no bankruptcies reported as the panic lasted about an hour before a broad rally.
MENTIONED IN THIS ARTICLE
Wall Street
John W. Gates
J. R. Keene and Associates
N. P
H. P. Frothingham
Jack Mannings
Northern Pacific
N. P. Rose
St. Paul
Missouri Pacific
Lackawanna
Delaware & Hudson
Illinois Central
American Tobacco
Manhattan
Brooklyn Rapid Transit
Union Pacific
Canadian Pacific
United States Steel
Rock Island
Atchison
Louisville & Nashville
Stock Exchange
Shorts
Preferred
Washington Monument
Hill Party
Street & Norton
London
Berlin
Street
Hill
Phillips Dumps Million of Oats
Chicago May 8 George H Phillips followed up a 1 000 000 bushels corn shipment with a sale of 1 000 000 bushels cash oats. McReynolds & Co handle the shipping end of the oats trade and the grain is to go out within twelve days. He agreed to take 1 000 000 bushels July oats at 27 cents in exchange. May oats climbed to 29 cents and July to about 27 1 2 cents as the market strengthened. Phillips disputed rumors of corn shipments from Manitowoc and said the corn would not pass grade here. He helped push May corn back to 51 cents, closing on a rally at 52 cents. The cash oats sale revived speculative activity.
MENTIONED IN THIS ARTICLE
Commercial Tribune
Chicago
George H. Phillips
McReynolds & Co
Phillips
Manitowoc
President Dines and Tours Los Angeles Floral Welcome
President and party arrived in Los Angeles on May 8 and rode through rose beds under a flower arch to Casa Loma Hotel where a speech was made. They dined at Bivouac with General Otis then spent the night there. Governor Nash hosted a reception at the Chamber of Commerce.
MENTIONED IN THIS ARTICLE
Los Angeles
Cal
California
Casa Loma
McKinley
Harrison Gray Otis
Nash
Chamber of Commerce
Mt. Low
Santa Monica
Burlington Deal in Jeopardy Amid Railroad Merger Moves
New York May 8 financial writer says the Burlington deal may fail as Union Pacific buys Northern Pacific stock to block merger ratification. Kuhn Loeb & Co seeks a protective triad with Union Pacific and Great Northern under a revised guarantee. insiders reportedly sold little stock while Hill and Morgan interests remain major holders.
MENTIONED IN THIS ARTICLE
New York
Wall Street
The
Evening Post
Northern Pacific
Burlington
Union Pacific
Keene
2 Star
President Hill
Kuhn, Loeb & Co
Western Railway
Great Western
Great Northern
Hill-Morgan
Warren women push statewide vote rights for fundraising measures
The Woman's Political Equity Club of Warren announced a statewide campaign to urge the next Legislature to pass a law allowing women to vote on all measures whose aim is to raise money.
MENTIONED IN THIS ARTICLE
Commercial Tribune
Warren
Woman's Political Equity Club
Unprecedented Loss Tied to Great Panic and Pac Stock Actions
A historical report contends the Great Panic caused unprecedented losses tied to the Northern Pacific and J J Hill, disputing claims he lost control and instead accusing him of strengthening his line, triggering disaster.
MENTIONED IN THIS ARTICLE
Northern Pacific
J. J. Hill
Wall Street Tumbles on Northern Pacific Corner Crisis
A wholesale stock market slump on May 8 wiped out at least 250 million dollars in value as Northern Pacific sparked panic. Prices plunged across sectors with heavy losses, while hopes rose of a bank-led market rescue at the next opening.
MENTIONED IN THIS ARTICLE
Commercial Tribune
New York
Chicago
Stock Exchange
Northern Pacific
Wall Street
Wall Street Panic Breaks Out In Early Afternoon Trading
A Wall Street panic erupted around 1 PM as investors rushed to sell stocks with little regard for value. Brokers intensified the hysteria, driving prices down across the list before a brief rally. After about twenty minutes bull momentum returned briefly before a fresh plunge.
MENTIONED IN THIS ARTICLE
Commercial Tribune
New York
Wall Street
Bears
Also Mentioned on This Page
Russell Sage
Henry Clews
Carnegie
W. A. Bostwick
Pittsburg
J. A. Matthews
W. R. Stirling
W. H. Foster
Niles
Institute For
Goldberg
Stansfield
Dent
Wheeling Bucket Shop
Voluntarly
Secre
Tary
Treasury
Federal Court
Oster
McCauley & Melles
McCauley
Burlington Deal
Corner
W. G. Nicholas
Mr. Hill
James R. Keene
Erie
Baltimore & Ohio
Alton
New York Central
Pennsylvania
Common
Colonel Gates
Ltd Preferred
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