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Newspaper
Lowell Daily Courier
Location
Lowell, Massachusetts, United States of America
Date
Mar 04, 1902
Page
7
The New York market opened dull and slipped slightly by noon on Tuesday March 4. In Boston activity centered on Canadian stocks, with bulls holding the market.
In Boston on March 4 the market opened near Monday's close with copper stocks quiet in forenoon trade. Dominion Coal stayed in focus as Dominion stock moved from 99 to 104 1 2 while Trinity opened at 18 1 2 and declined. Steel and iron rallied from 81 to 34 indicating mixed sector momentum.
The New York market opened irregular as Amalgamated Copper and several large rails showed fractional gains while Sugar and Manhattan led declines. Early gains faded with liquidation in Manhattan, pressuring Northwestern Missouri Pacific Reading Amalgamated and other prominent issues.
New York on March 4 reports cotton futures opening steady with March at 8.90, April 8.87, May 8.74, June 8.72 bid, July 8.74, August 8.59, September 8.27, October 8.13 as the market begins trading.
Boston reports that the public is shifting into copper stocks as a rising metal price lures speculators. The piece warns that early buyers may be trapped if only partially developed mines surge, noting not all copper shares will follow a single stock higher.
R G Dun reports February insolvencies at 1104 with 11,392,029 in debt versus 1024 defaults and 11,287,211 last year. Manufacturing failures numbered 238 at 4,915,015, trading insolvencies 800 at 4,737,591, other disasters 66 at 1,649,523. Banks and fiduciaries totaled 3 failures at 145,009, improving from seven and 432,182.
The appropriations committee hopes to complete its work in time for a report to the city council next week. Smallpox patients at the hospital are recovering with no new cases among those quarantined. The disease is running in a very light form. The lands and buildings department is preparing plans and estimates for an addition to the police building.
Albany March 8 Trains on all steam routes into Albany run without schedules as the freshet on the Hudson swells to 18.25 feet and rising. Ice from the Mohawk blocks main lines opposite Stuyvesant, halting entry to Albany since Saturday night. An express train with perishables sits abandoned near Castleton, with other trains and the Empire State express also left idle as officials wait for the freshet to subside.
A severe flood in Caledonia county Vermont disrupts roads bridges and rail. The Passumpsic river and tributaries overflow after heavy rains and snowmelt washing out the Boston and Maine line near Passumpsic. St Johnsbury Centre lost its lower bridge and town water supply is cut after the aqueduct dam failure. Reports indicate widespread flood damage and loss in outlying areas.
Brattleboro Vermont reports March 3 describe high water on the Connecticut River washing away braces on the central pier and Verimont side of the Ascutneyville bridge. The structure remains in place as waters fall, but nearby roads and rails show severe damage including washed out tracks between Townsend and West Towns end and a ruined line at Warsboro station.
The Connecticut river hit 18 feet six inches at Bellows Falls VT this morning the highest level on record. Ice breakup began last night flooding meadows and lowlands with up to five feet of water on some highways. The canal boom was swept away forcing mill shutdowns and railroad tracks along the river were submerged. The Boston and Maine tunnel dammed to block water.
Three drowning accidents occurred near Pittston Pennsylvania last night. A boy fell into the Lackawanna River and was swept away. A small boat capsized at Kingston Flats with two men whose names were not released. both drowned. Eight inches of snow fell, the river receded but floodwaters may rise as the snow melts. Dozens of collieries flooded. months needed for repair.
Flood near Concord New Hampshire ties up divisions of the Boston and Maine railroad centering there. Traffic is halted with service disrupted on the White Moon branch as authorities assess damage and reroute trains. The brief note notes minimal local damage beyond railroad congestion.
The temporary bridge at Bridgewater has been carried away and the road will be closed to through traffic for several days. The Passumpsic and the Concord and Claremont and Peterborough and Hillsborough branches are also out of service due to extensive washouts. Ice jams form between this city and Penacook but the line remains passable for now.
Nashua New Hampshire March 3 floods in the Nashua and Merrimack rivers persist with Merrimack rising further. Nashua cotton mills Jackson company and Roby Swart box factory have suspended work. No relief is anticipated for now.
Manchester mill workers faced sudden unemployment as high Merrimack River water forced about fifteen hundred operatives to lose jobs. Ice has cleared north to Concord with no damage reported to property.
The schooner Fanny L. Child arrived in Fall River from Jacksonville Florida after a stormy voyage. Departed February 11 after clearing February 7, she battled heavy seas that tore loose a forward deck house but caused no injuries. Captain Williams called it the roughest sea experience of his career.
In his address to the Association of Chambers of Commerce of the UK Lord Avebury warns against despondency, cites French subsidies as a contrast, notes US ship subsidy debates, questions German bounty schemes, and urges Britain to keep commerce open with a strong open door policy and fair play in North China.
The Oregonian reports a major industrial consolidation forming in Portland and San Francisco. It would unite leading Pacific Coast export flour mills with potential capitalization near 10 million dollars and capacities over 5,000,000 barrels annually. Entities named include Portland Flouring Mills Tacoma Puget Sound Centennial Mills and Sperry Flour Mills spanning Seattle Spokane Stockton and San Francisco.
In Ath Me on March 3 the Republican slate won all city offices. Mayor E W Hyde led with 1062 votes, defeating Democrat C L Farnham who had 655, and Independent A J Dunton who drew 192.
Yesterday in Dracut a full meeting chose Oliver Coburn as moderator after Fox lost his treasurer post to James J. McManmon. Town approved budgets including 3000 for highways, 11000 for schools, 1000 for police, 1500 for street lighting, and 100 for a tree warden, with 10000 borrowed in anticipation of taxes and 500 for Bridge street completion. adjourned for dinner at noon.
The U S minister John G Leischman presented a note to the porte regarding the capture of Miss Willon M Stone by brigands. The porte repudiates responsibility and denies all liability in its reply.
Terrence Carroll of Warren New Hampshire faced a police court after a road trip to Andover. He allegedly stopped at a saloon, drank heavily and was restrained by others, then placed in a wagon after a brief intervention. The incident centers on intoxication and legal handling rather than violence.
The German Prince Henry was received with praise and friendship in a West American club, where members toasted the guest and pledged loyalty to the United States while noting ties of kinship with Germany. President Fischer presented a two foot high gold and cut glass vase to the Princess Irene, on behalf of the club ladies.
On March 1, 1902 the J C Ayer Co posts a notice in all departments declaring they will not employ any young man under 21 who smokes cigarettes, citing injurious effects on mind and body and reduced suitability for work.
Youngstown Ohio March 4 after talks Erie officials and grievance committee of conductors and brakemen a new pay basis is agreed. Conductors to earn three cents a mile and brakemen two cents a mile. On the Mahoning division an eleven hour day. Applies to all men from New York to Chicago. Regular monthly meeting of the board of patrons of the Ayer Tome set for Wednesday at 3 PM at the Home.
The First Baptist church revival led by evangelist Mr. Greenwood has run three weeks with rising attendance. He preached on the devil and hell attacking saloonkeepers, Spiritualists, Christian Science and other beliefs. Daily services are at 3 and 7 30 p m with intense sermons and singing.
In Chicago on March 4 more than 10,000 Poles met in secret sessions across the city to deplore the honor shown to the German Emperor’s brother, Prince Henry, during public receptions at the Auditorium and first regiment armory. The gatherings, led by the Polish National Alliance, capped a series of meetings prompted by the news of the emperor’s envoy.
The Merrimack River rose through the forenoon in Haverhill forcing over 1000 workers to take enforced vacations. Reports from Concord warn of a large ice jam between Concord and Manchester that may back up water further. Local merchants and manufacturers brace for potential damage and closures.
Reports from Concord NH indicate continued high water on the Merrimack river with cross river communication by boat. A large ice jam below the city backs up water, railroad operations are normalizing aside from the White Mountain division, and crews at Penacook worked overnight to save a railroad bridge.
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