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Newspaper
New York Times
Location
New York, New York, United States of America
Date
Aug 09, 1908
Page
11
Brokers report a gradually developing bullish sentiment with no firm conviction in a lasting bull market. Despite strong overall strength and big winnings by small traders, conservatism remains as politics are unsettled and prices rise. A Steel stock zealot believes in a long term rise to 75, while others react to insider talks with mixed outcomes.
Summary of railroads including Detroit and Mackinac Georgia Southern and Florida Grand Trunk Illinois Twin City Rapid Transit Yazoo and Mississippi Valley Illinois Central and others. Figures show gross, expenses, and net earnings for July weeks and year to date amounts with increases and comparisons across 1906 1907 and 1908.
Special to The New York Times from Baltimore reports a dull market with limited trading yet generally firmer prices and several fractional gains. Shares totaling 285 hands moved for about $18,000.
Chairman Willcox travels to the White Mountains for about two weeks. J P Hornaday takes a Summer home at Atlantic Highlands and becomes a regular on the Sandy Hook Line. W Ten Broeck resigns as foreign freight agent of the Lackawanna to join Alfred H Post & Co. Ben Broeck will represent Post on the floor. Columbus Railway and Light stockholders vote in September to lease Columbus Light, Heat, and Power. Stock Exchange lists involve Big Sandy Railway bonds and refunding bonds of several rail companies.
The piece argues that large corporations compete to hire new college graduates, especially engineers, driven by the rise of technical education. It cites John J. Carty of AT&T on how firms chase graduates from Princeton, MIT, and other schools, while emphasizing the social mobility of sons of workers. University-trained hires, it says, bring discipline and efficiency, reshaping industry and wealth.
Eastern bankers attending the American Bankers Association thirty fourth annual convention in Denver Sept 28 to Oct 2 will ride a deluxe special train from New York Sept 25 arriving Denver Sept 27. Return Oct 2 to New York via Colorado Springs Kansas City and St Louis with Colorado Springs sightseeing on Oct 3. Pennsylvanian Railroad conducts the excursion.
Principal issues of short term notes show bid and asked prices with several railroads and companies listed. Highlights include Am Tel & Tel Co at 0.9976 bid, 1.0000 asked. Chesapeake & Ohio Ry 0.1014 bid, 1.0214 asked. Lake Shore & Michigan Southern Ry 1.0000 bid, 1.0100 asked. Pennsylvania RR 1.0000 bid, 1.0100 asked. Tidewater Construction Co 0.9800 bid, 0.9800 asked.
Chicago on August 8 saw uneven price moves with few declines from the prior close. Deoth preferred eased a point, and Goab oard preferred edged down fractions. Biscuit preferred rose to 144, while Can common led activity, trading above 1. Small gains noted in Match Can preferred and Swift shares with various issues showing minor shifts in price.
Reports from the Pennsylvania Railroad Western Division show 4200 employees educated in first aid since January 1. Lectures at Verona and Pittsburgh stations attract hundreds, with about twelve lectures monthly and 25000 workers trained to render medical aid using stretchers bindings, and non drug interventions.
The New York Central and Hudson River Railroad paid a corporate tax of 141 652 on its gross earnings, implying last year’s earnings exceeded 70 million dollars. The tax, one fifth of one percent, is due August 1 but often paid months later. The State treasurer noted the company paid promptly to avoid penalties greater than the cost of money.
Aug 8 market note shows plentiful money and easy discounts amid Paris support. Consols steadied after early losses, foreigners firm, copper shares strong. American opening quiet, Seecere disappointment weighed Continental offerings. Harriman lines firm but activity muted. Kaffirs steady, bar silver 241-10d. Paris Bourse firm at 96 francs 371% centimes, London exchange 26 francs 14 centimes. Berlin trading quiet on the Bourse.
More than 100000 needle workers earn a living in the East Side as 250 closed factories are now open and many garment workers gain two to three days weekly. Officials say conditions have improved since August 1 and hope for further gains this fall, despite ongoing hardship for some families.
Albany August 8 Sept Clark Williams of the State Banking Department released a statement on the July 1 figures showing the state savings banks total resources at 1 516 505 210 an increase of 25 744 535 compared with July 1 1907. Depositors due total open accounts and withdrawals are detailed with large year to year changes.
The cotton market opened weak amid discouraging weekly trade reviews and spillover from a flour market failure. Prices closed steady with a net drop of 7 to 14 points after 50,000 bales were traded, with August through March contracts showing varied downticks and recoveries.
The Chicago and Northwestern Railway announced plans for a four block Madison Street passenger terminal costing about 20 million dollars with capacity for over 250000 passengers per day. The granite classic design features a 120 foot portico and six entrances with a 106 foot caisson depth to bedrock. occupancy expected by January 1910.
Three coal laden barges towed by the tug Western of the Ontario and Western Railroad collided with the two masted schooner William Buckley in Hell Gate off Ninety-second Street. The barges broke loose, drifted toward Hog's Back, and the schooner sustained damage but escaped as the tug resecured the craft and barges after chaotic drift.
The Census Bureau will issue a book titled The Tale the White Tribes of America in October. William W. Rossiter will author it, separating 1790 population into family camps and showing that the original thirteen states held about 3.2 million people in 700,000 families. The work highlights patronymics and aids genealogical tracing.
A delivery wagon horse bolted from Lenox and 128th, ran through Schmelz drug store, then down 127th Street injuring Ida Meehan 2 Celia Lunney 5 and Frank Pattetle 8. Dr Dubois treated Lunney and Pattetle. Meehan taken to hospital. Driver Samuel Ball, 607 East Eighty-fourth Street, failed to hitch the horse.
The Board of United States General Appraisers ruled that bagpipes made of wood and india rubber are dutiable at 80 percent as toys. Imports by O G Hempstead & Son of New York and Philadelphia had been taxed as rubber manufactures. The decision cites a protest by G W Sneldon & Co of New York and Chicago.
Special to The New York Times Albany Aug. 8 U S hotel Syracuse Directora Snow Deforest Settle Dey Onondaga Hotel Corporation capital 300000 Chief Motor Company Buffalo capital 250000 Universal Sales Company capital 100000 Saranac Lake Gas Company capital 50000 Parkway Company capital 25000 Ninth Street Company capital 25000 Waterproof Engineering Co capital 20000 Improved Building Construction Co capital 10000 Anguera Piano Co capital 900 Knight Wille Construction Co capital Overlook Farms Creamery Co capital 5000 Directors named for each firm and addresses listed.
A fragmented stock market notice urges immediate purchase of Cumberland Ely while noting broad trading wires to San Francisco Boston and Salt Lake City. It references Nevada stocks copper and outside stork terms, with emphasis on unexcelled trading facilities and various buyers and contracts.
Listings show Gold Bond Hat Manufacturing Company raising capital from 1000 to 25000 with attorneys Wolf and Kohn. Gellatly O Donnell plans from 10000 to 15000 with attorney Giy Donnell. Filgrim Realty and Houpt Pinney dissolve with counsel Hamel and Clute respectively. Other notices include directors listed for various entities and address details in New York.
City of New Rochelle invites sealed proposals at City Hall for purchase of 1110000 registered 5 percent school bonds Series of 1908 dated August 1 1908. Interest payable semi annually May 1 and November 1. Delivery September 1 1908. Bids must meet par value with certified check or cash. Right to reject bids reserved. City Clerk William G Rainsford and Mayor George G Raymond sign.
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