Wall Street sees mixed signals as Erie outlook looms
Traders note irregularity and apathy with Union Pacific edging higher and opening and closing at 125.14 while other stocks hold steady. Analysts debate Erie rescue options, notes versus receivership, and bearish betting grows on Amalgamated Copper and Winter wheat trends buoy optimism for a possible uptick despite mixed data.
Chamber Urges Study of Currency Reform by Commission
The Chamber of Commerce finance committee calls for further study before any currency law passes Congress. It rejects the Aldrich and Fowler plans as incompatible and supports Lovering’s commission idea with six House members, six Senators, and six presidential appointees to investigate causes of the crisis andRecommend banking changes. The panel, led by James G Cannon, favors a broader reform to stabilize currency and prevent harmful expansion.
MENTIONED IN THIS ARTICLE
Chamber of Commerce
Aldrich
Fowler
Lovering
House
Senate
Cor “S
James G. Cannon
Fourth National Bank
August Belmont
James T. Woodward
John I
Waterbury
Williamn A. Nash
Maurice L. Muhleman
Stock Exchange Reform and Key Personnel Shifts
Trading in Baltimore shows improved tone with firmer prices and higher totals. The New York Times reports consolidation activity as Morris Smith Davenport dissolves, Davenport & Cog rises with Robert Gocata and Henry McHarg taking roles. McHarg is noted as a leading banker and railway official.
MENTIONED IN THIS ARTICLE
New Stock Exchange
Morris, Smith & Davenport
Mutual Con‘nt
David
Orr Davenport
Ww Stock Exchange
Iig
Davenport & Cog
Robrt
G.cota
Gfartner
Henry cHarg
Micharg
The
Stock Exchange
Ink
Manhattan Company
Virginiauthwestern Railway
Coffee Market Sees Small Activity Amid Tariff Debate
Trading was light with about 6000 bags moved as the market opened flat to up five points on French cables then drifted to steady. Havre gained 4 francs, Hamburg rose around 24 mfennigs, while Rio and Santos eased or held. Receipts at two ports remained ample versus prior days and years as Venezuelan coffee tariff issues under the Wilson bill influenced prices.
MENTIONED IN THIS ARTICLE
Havre
Hamburg
Rio
Reis
Santos
O. Jundiahy
Venezuela
United States
Rio No. T
Treasury balances show deficits and rising banknotes
The monthly treasury report for March 31 1908 records national banknotes outstanding at 1 292 208 000 and a public debt deficit for the current fiscal year of about 35 million dollars. Internal revenue receipts declined from 22 6 million in 1907 to around 19 million, while customs and miscellaneous receipts rose. Expenditures increased markedly and the deficit widened despite a surplus in prior years.
MENTIONED IN THIS ARTICLE
Washington
Begin- Gold. Com
Builion Trust
United States
Foreign markets show easier money amid mixed gains
London markets eased with cheaper money and weak discounts while gilt edged securities rose on optimistic business expectations. Paris supported by better diamond shares boosting American activity. Erie finance plan lifted American stocks though copper remained weak on liquidation. Berlin and Paris closed mixed with New York influence and late gains in some European issues.
MENTIONED IN THIS ARTICLE
London
Continental Exchange
Stock Exchange
Paris
Erie Railroad
Bears
Continental
Amalgamated Copper
Berlin
S. New York
Copper and metals slide on London and New York exchanges
Copper prices fell across the Metal Exchange with all grades down except Jake in the bid figures. London spot and futures dropped by about a pound, while pig tin and lead weakened and Spelter held steady. Iron warrants weakened, and New York spot and futures showed lower bids and asks for copper and related metals.
MENTIONED IN THIS ARTICLE
Metal
Jake
Lake
London
Standard Foundry
Middlesboro
Conper
New York Metal Exchange
Wedne
TMB
Stretentescole
MRL Eneketo
SSG
EES
Nid
Sco
Several New Jersey Firms Incorporate in Trenton
The April 1 filing lists new incorporations including The Actna Mining Company Jersey City capital 1 million with H Oughian H Guenther John R Turner. Usnd Corset Shield Company Jersey City 29 060 with H M Armug Milton Houghton Lillian H Andrews. Produce Shippers Association of State of New Jersey Palmyra capital unspecified with Loutsek Page Charles Sup and Benjamin Lippincott to buy and ship fruit. General Light Company Camden capital 100 000 with Joseph L Suer vard Elwin R Gerber Simon Friedberger to manufacture light. Interrbanbeable Grate Bar Company Camden 200 000 with Charles AW Rollin George Dary Henry A Jiary to manufacture grate Lie. Monmouth County Kennel Club Long Branch 2 000 with M Robert Gufenbeim Theodore Bern to promote sport events. Brien Rubber Thread and Webbing Company Trenton 250 000 with W J O'Brien Spencer B Hibbs Richard Barlow to manufacture electric webbing. Spottswood Cusack Company Orange 100 000 with George Spotts wood Thomas M Cusack George WW Jones to develop coal and iron lands. Petrys Express and Delivery Company Trenton 25 000 with Fred Petry Herbert C Silcox Margaret E Silcox to do general carting and delivery.
MENTIONED IN THIS ARTICLE
Trenton
N. J
Actna Mining Company
Jersey City
Ecapital Baers
H. Oughian
H. Guenther
John R. Turner
Usnd Corset Shield Company
H. M. Armug
Milton Houghton
Lillian H. Andrews
Bar Company
Camiden
Capital
Charles
AW. Rollin
George Dary
Henry. A. Jiary
Monmouth County Kennel Club
Long Branch
M. Robert Gufenbeim
Theodore Bern
Ss Hin
The
Brien Rubber
W. .J. O’brien
Spencer B. Hibbs
Richard Barlow
Spottswood-Cusack Company
Orange
George _Spottswood
Thomas M. Cusack
George WW. Jones
Petry'’s Express and Delivery Company
Fred Petry
Herbert C. Silcox
Margaret E. Silcox
Financial notes on bankers and stock exchange moves
The report lists multiple changes and actions in New York finance: Harry Van Cortlandt Fish joins Blake & Reeves. E F Hutton returns from Florida. J F Haggerty joins Charles D Barney & Co. at 25 Broad Street. J M Smith withdraws from Smith Brothers at 20 Broad Street. The Sutro Committee extends bond deposit to April 19. New firms Archibald & White, Davenport & Co., and White & Co. open with focus on first mortgage railroad and corporate bonds. Several directors and associates are named with prior firms, and bond listings show retail and railroad security movements including Northern Securities, Haven & Hartford warrants, and Eastern Railway of Minnesota bonds.
MENTIONED IN THIS ARTICLE
Harry van Cortlandt Fish
Winmill & Fish
Blake & Reeves
Pins Street
H. T. Carey & Re
Aera
Morristown
N. J
Augustus L. Revere
E. F. Hutton
Stock Exchange
E. F. Hutton & Co
Florida
Joseph F. Haggerty
Bartlett, Frazier & Carrington
Charles D. Barney & Co
Broad Street
Consolidated Stock Texxchange
J.M. Smith
Smith Brothers
Sutro Committee
Western Maryland
A Archibald &. White
L. Parmelee
George A Hull, Jr
Lytle Hull
Nan of White & Co
Pine Street
Hon
First Mortgage
White
Windsor Trust Company
Davenport & Co
New Stock Exchange Frm
David O. Davenport
Exchange
Morris
Smith & Davenport
Robert G. Kennedy
United States Trust,Company
Henry K. McHarg
Henry M. Libby
R.A .Lanecaster & Sons
White & Co
Bhakking House
First Mortgage Railroad
Archibald S. White
Ohio
C. L. Parmelve
Redmond,Kerr & Co
Georgie H. Hull,Jr
Bertron, Storrs & Griscom
Lytle Hall
Karing
Magoun & Co
the Stock Exchange
Sears
New -Yo Haven
Trust Company Roles and Officers Named in Securities Handling
Receives deposits subject to check or on certificate with interest accrual. Lends approved stocks and corporation bonds as collateral. Acts as trustee guardian executor administrator assignee receiver transfer agent or registrar of corporate stocks. Takes charge of personal securities. Officers listed include William A. Day William P. Dixon Julian D. Fairchild John T. Lockman Henry Morgenthau James N. Wallace.
MENTIONED IN THIS ARTICLE
Lendson
Erie Board Considers Plans After SEC Note Approval
The Erie Railroad won permission to issue 15 million dollars in secured five year notes and stock rose as notes due soon rallied. The Executive Committee met with a full board planned today to review proposed exchange of new notes for maturing ones and possible trust company involvement amid cash-raising disputes among directors and bankers.
MENTIONED IN THIS ARTICLE
Erie Railroad
Public Service Commission
the Erie
Wall Street
Erie
New York Incorporations and Securities Auction Listings
Securities disposed at auction yesterday at the Exchange Salesroom 14 and 163 Vesey Street list numerous bonds and shares from Merchants Exchange National Bank Home Realty Co and United Telephone and Telegraph Co to railroads and other firms. New incorporations include Orange and Crescent Lakes Power and Electric Co Mica Mineral Paint Co Niagara Non Refillable Bottle Co and many others across New York state with varied capitalizations.
MENTIONED IN THIS ARTICLE
Exchange
Vesey Street
Adrian H. Muller& Son
Merchants’Exchange &National Bank
Home Realty Company
United Telephone and Telegraph Company
Equitable Trust Company
Philadelphia
First National Bank of New_York
UAL
Suffolk Gas
First Mortgnge O
National Copper Bank
Atchison Rate Cut Triggers Dividend Reduction
The Atchison Directors cut the semi annual dividend on common stock from 6 1/2 percent to 5 percent, with the stock price rising and closing with a net gain. Victor Morawetz cited potential future traffic improvements, but warned earnings fell due to reduced high grade traffic and uncertain machinery shipments, tied to money conditions.
MENTIONED IN THIS ARTICLE
Atchison
Victor Morawetz
Atchison Board
Oriental Bank Depositors Paid Under Liquidation Plan
Metropolitan Trust Company has paid more than half of Oriental Bank depositors under the liquidation agreement with the bank's stockholders. All preferred creditors are satisfied and depositors are now receiving 100 to 200 daily.
MENTIONED IN THIS ARTICLE
Oriental Bank
Metropolitan Trust Company
Times Seeks Reader Info To Exclude Fraudulent Ads
The New York Times invites information from readers to aid in excluding fraudulent and objectionable advertisements. All information will be treated confidentially.
MENTIONED IN THIS ARTICLE
The
New York Times
Financial offices and transfer services across three cities
The Farmers' Loan and Trust Company lists branch offices at 16 18 20 and 22 William Street and 475 Fifth Avenue New York with London offices at 18 Bishopsgate Street and Paris at 78 Rue de Richelieu offering bills of exchange cheques and cable transfers.
MENTIONED IN THIS ARTICLE
Farmers’ Loan and Trust Company
William Street
Fifth Avenue
New York
City Financial Statement: Bonds, Real Estate, and Profits
The report lists assets including bonds and mortgages in New York, Brooklyn and Jamaica, real estate, accounts receivable, cash, and time loans on collateral. It shows capital, surplus, undivided profits, and accrued expenses with figures across several lines and accounts.
MENTIONED IN THIS ARTICLE
City of New York
New York
Brooklyn
Jamaica
Address Fragments Link Manhattan Brooklyn and Queens
Readable lines show a street network listing 176 Broadway Manhattan 196 Montague Street with 175 Remsen Street Brooklyn 350 Fulton Street Jamaica 67 Jackson Avenue Long Island City linking these locations. The snippet presents a cluster of cross-city addresses without context or events.
MENTIONED IN THIS ARTICLE
Montague St
Remsen St
Brooklyn
Fulton St
Jamaica
Jackson Ave
Long Island City
Houston & Texas Central First Mortgage Bonds Notice of Drawn Bonds
The Houston and Texas Central Railroad Company announces bonds drawn for payment from sales proceeds of lands under a Trust Indenture with Central Trust Company of New York and the Southern Pacific Company. The bonds listed will be paid at 110 percent of par plus accrued interest upon presentation with coupons at 120 Broadway New York City. Interest ceases after May 14 1908.
MENTIONED IN THIS ARTICLE
Missouri Pacific Railway Company Consolidated
South Carolina & Georgia Railroad Company
Galveston, Houston & Henderson Railroad Cmpany
Santa Fe, Prescott & Phoenix Railroad Company
Chesapeake & Ohio Railway Company
Virginia
West Virginia
St. Louis & San
American Sugar Refining Company
Detroit, Mackinac & Marquette Railroad Company
Home Insurance Company
Canoe
New York Produce Exchange
Casualty Company of America
Forty-seventh Street Realty Company
Reagy
New York
Central & Hudson River Railroad
Michigan Central
Mercedita Sugar Company
Interborough Realty Company
Carnegie Trust Company
Houston & Texas Central First Mortgage
Houston & Texas Central Railroad Company
Frederick PL Olcott
Central Trust Company of New York
Southern Pacific Company
Broadway
York City
Ry R. SS. Lovett
NEW York Athletic Club
Central Park South
N. Y
M. S. Paine
Chicago Great Western extends debenture stock deposit date
By order of holders the deposit time for debenture stock with Bankers Trust Company at No 7 Wall Street is extended to close of business on April 6 1908. New York March 10 1908. Committee members William A Read Epwin M Bulkley George P Butler Frederick Hh Ecker Frederick W Whitridge secretary F E Mowle 25 Nassau Street New York Jol ine Larkin Ratebone Counsel.
MENTIONED IN THIS ARTICLE
Bankers Trust Company
Wall Street
New York City
Richard Sutro
William FE. Harrity
Edward L. Fuller
George Cator
Fairfax S. Landstreet
William
Fanshawe
Erie Electric Motor Company
New York _ Security and Trust Company
NEW Yoork Trust Company
F. J. Horne
New York
William A. Read
Epwin M. Bulkley
George P. Butler
Frederick Hh, Ecker
Frederick W. Whitridge
Committee
F. E. Mowle
Nassau Street
Joline , Larkin & Ratebone
Aniil
Clarence Gcadrpy
William M. Hazelton
Treas Rer
Dividend Declarations From Two New York Banks
The American Locomotive Company announces a quarterly dividend of one and one quarter percent on preferred stock payable April 21, 1909 to holders of record April 4, 1905 with transfer books closing April 4, 1908 and reopening April 22, 1908. The New York Produce Exchange Bank declares a three percent semi annual dividend plus one percent extra payable April 15 with transfer books closed April 7 to 15.
MENTIONED IN THIS ARTICLE
American Locomotive Company
Broadway
New York
T. Catlaway
NEW York F Product Exchange Bank
New York Produce Exchange Bank
John R. Wood
Thompson-Starrett. Company
Wall Street
H. D. Rabbitt
International Paper Company
Traisfer
Hyyde
Fifth Avenue Branch Offers Letters of Credit and Vault Boxes
The Fifth Avenue Branch of The Farmers Loan and Trust Company at 475 Fifth Avenue near 1st Street markets travelers letters of credit and guarantees. Foreign money exchange and express cheques available. Vault boxes for customers’ use offered at this location.
MENTIONED IN THIS ARTICLE
Fifth Avenue
The
Farmers’ Loan and Trust Company
1St Street
Lincoln Trust Company Special Stockholders Meeting Notice
Notice of special meeting of stockholders of Lincoln Trust Company at 208 Fifth Avenue New York on April 16 1908 to vote on reducing capital from 1500000 to 1000000 and consider other propositions. surplus to be reserved for corporate purposes. Dated New York March 16 1908 signed Frane Til? President and Joseph Z Bray Secretary.
MENTIONED IN THIS ARTICLE
Lincoln Treat Company
Fifth Avenue
Manhattan
State of
New York
Union Trust Notice to Inspectors at Fifth Avenue Office
Notice is hereby given to the officers of the Union Trust Company to report to the office at Fifth Avenue New York on Friday April 10 or 12 as the document shows. The message references inspectors and a safe deposit company with a file number and date.
MENTIONED IN THIS ARTICLE
Fifth Avenue
New York
The
Union Trust
Posit Company
Company
Nue
Neon
Ction
Partnership Admission Notice for GLF. WINMILL & CO.
New York March 31 1908 notice states Phil Lipse Eb N Greens and Chichester C Kerr admitted as general partners in the firm GLF. WINMILL & CO Bankers located at 20 Broad Street Manhattan New York City County State.
MENTIONED IN THIS ARTICLE
Phillipse EB. N. Greens
Chichester C.kerr
GLF. Winmill & CO
Broad Street
Borough of
Manhattan
New York
Also Mentioned on This Page
Union Pacific
Prokers
Erie News
Hst
Atchison Action Conservative
Financial District
Steel Quarterly
Figures
Steel Corporation
Chamber of Commerce Commit
Tee
Aldrich Bill
Congress
Yarke Pines
Baltimore
Mount Vernon Waoodrry
Consolidated Se Electric Light& Power
Seaboard
Lax
Vionee Ness
Bank of North Amit
Brooklyn Rap
Cambrifi
Cambria Steel
C. F
Wee Ewe
Plectric Co
Tajacaie'ia
Ins. Co
Lehigh Valley
Eta & Norf. T.c
North Pennsylvania
Pennsylvania
Pennsylvania Salt. Co
Phila
Traction Eeadeas Buk
Sail
Reading
Reading 2d
Tonopah Belmont
Tonopah Mining
Union- Traction
United Gas Imp
United States Steel
Jersey & Seashore
Baltimore City
Eia &P
Coa
the Treasury Balances
Faris
Tordlay
Foreign Public Securities
Eves
Eeenee Oy
Saxony
Sanety
Mosne
Munich
Toh
Augsboe
Enens
Ayity
Frankfort
Cess Tereete
Alent
New_York
Aerovale
Pac
Steelindie
Ss Steel
Metal Market Reports
Chicago Stock Market
Chicago
Edison
National Biscuit
Stiani
Swift &Co
United
Incorporated
New Jersey
Financial Notes
Lawyers Title Insurance& Trust Company
Trust and Banking Department
Liberty ST
Title Department
Title Department & Trust and Banking Department
Montague Street
J David B. Ogden
Edwin W. Coggeshall
Louis V. Bright
Perbett E. Jackson
Thorwald Stallknecht
Walter N. Vail
Lewis H. Loser
Archibald Forbes
U. Condit Varick
George: A. Fleury
Prederick D. Reed
Geo. F. Butterworth, Dumont Clarke
William A. Day
William P. Dixon
Julian D. Fairchild
Erie Board
Road
Lincoln Trust Company
St. Joseph & Grand Island Railway
Pittsburg
Shenango & Lake
Southern Railway
St.Louis
Siue
Walter A. Wood Stowing and Reaping Machine Company
North American
Hudson Navgation Company
Trinity Syndicate
Northern Westchester Securities Company
A. H. Carlisle
Garrett P. Linderman
Chatham National Bank
Cence
Impowers and
National Bank
United States Title Guarantee and Indemnity Company
Goodwin Car Company
Albany
Orange and Crenonier Lakes Power and Electric Company
Harrison Street
Staplenn
S. L
Emily T. Henning
Mount Hope Place
Mertie C. King
East 141St Street
Mica Mineral Paint Company
Arthur Meyer
Dutch Street
Walter E. Scott
Pulten Street
Jheovb G. Lazarus
Niagara
Buffalo
Erie County
Stewise M. Spruszniki
Tueon Olszewski
Leon J. Nowak
Y. Horton Oat
Engine and Supply Company
Rochester
Monroe County
Manital
STAG
Ian Verne- Horton
Clarenes
D.laradbee
Melvin A. Kush
N.Y
L. Storer
Stuart-Ward Company
Apital
John T. Conti
Canal Street
Franklin
D. Fearle
Summit
Gsorge A. McLaughtlin
Lincoln
Milton Reyalty Company
Charles Roche
West Jighty
Seventh Street
Jacob F Birsting
Central Park
West
Oswall Frohe
Bay Leaf Products Company
Owego
Tioga County
James P. Fallender
Pauline Sgibo
J. Egbert Peters
Phipps-Munds Reat Company
T. Phillips
Iive
Westchester County
J. Lawrence Phipps
West Kith Street
John .Co. Tredivell
Hempstead
L. I
T. E. R. Company
Glens Falls
Warren County
Lemon Thomson
Charles F. BujJlard
Daniel L. Rovers
Boston Land
Oh Ke - Pall
Sayville’ Lumber and Hardware Company
Sayville
Sufolk
County
Joseph Lailey
J.hubert Bailey
Sherman Gerard
Patchogue
Consumers’ Realty” Corporation
Leopold Friedheir
Herman Bass
Ira E. Miller
Janeway Button Company
Robbert J.solmson
John L. Duryee
New Brunswick
Victor Friedman
Greene Street
Eighty-sixth
West Forty-second Street
Westchester Westmoreland Automatic Shoe Cleaning Machine Company
Yonkers
Edward J. Mitchell
Prospect Street
Daniel J. Mahoney
Cliff Avenue
Adolf A. Schaerer
Maple Street
Adjustment Corporation
Harry B. Haven
Rector Street
Richard P. Campbell
Edward K. Baird
New Wera
Aura
Robert C. Martin & Son Company
Rubert C. Martin
Robert F. Martin
Archibald & Reid
Canton Street
Newark
Streebrook Realty Company
Charles . PF. Streeter
Rank A. ‘Ten Brook
John H. Kelly
Nuthgate Avenue
Thomas Ward
William A. Ward
West Eighty-third Street
Pat Casey
Hudson Company
H. L. Hudson
Gates Avenue
Edward D. Cronin
Union Street
Krooklyn
Fred Knowlton
East 139Th Street
American Checking Machine Company
Wiliam Th. Baur
West 12Th Street
Charles Muller
East Ninth Street
Paul Wenger
Astor
Independent Co-operative Union Legal .Company
Edward St. Vines
West 155Th Street
Victor H. Seegers
Hoe Avenue
Thomas Lynsky
Charlotte Street
Interborough Sign Company
George Albert
Lorn
Hornby Company
G. Lioyd King
East Fourth Street
William H. Mills
Boo Vogt
Wetde Hotel Company
Capitarn Streeters
Samuel Jaffe
East Thirteenth Street
Samuel Mandeltory
East South Street
Samuel Jagoda
West Twenty-sixth Street
Fetchogue Realty Company
Suffolk County
Sidaney N
Gerard
Emerson G. Terrell
James A. Canfiel
Alice O’artenfiatiell
West 21St Shre
Antonio Barone
Met Street
New G Rom Nany
Yetting Company
Cart
Henry FE
Goldman
Ince
James Stern
West Seven
Sanford Simons
West 187Th Street
Murus Clear Company
George W. Tucker, Jr
Laurence L. Cawen
Arthur Powell
140Th Street
Co-operative, Publishing and Manufacturing Company
Ernest J. Coax
Anna F. Chamberlain
185Th Street
Victor H. Holland
Madison Avenue
Phip Jacobson
Bronk Avenue
Isidor Newman
Herm Malkin
Willems Avenue
Ormoent Reality Company
Row
Tudor
Louis J. Rosett
Liberty Street
Western
Maryland
R. A
Samuel Untermyer
OH. Smith
Bishopsgate St
Within
Rue de Richelies
Resources
Chicago Great Western Railway Company
Lake Shore & Michigan Southern Railway
Ihean
Charles F. Cox
Chicago & St. Louis
Michigan “Central Railroad Co
Charles F.cox
Fifth Avenue, New York
Joseph Z. Bray
Strtetary
Ofg
New York_Life Insurance Goa Aspeny
Intrectora
New York Life Insurance Company
City of
Stouckbuliparity Company
Agmeé Utiity Company
Sid. Corporation
City of New
Frank Steck
Acme Uitilites
Levy & Rosenthal
Acme Utility
Comepany Facmi -Utin
Soltheryn
AML
Southern
Heeramon
Kentucky
Millar
Henry MT. Myrick
Alexander King & Co
Notic R
YALE
Kneedband
Glose Rede Butcers Fire Insurance Company
Willam Street
T Jay
Flyman Candee
American Savings Bank
Tn West
Fata Nfé