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Newspaper
New York Times
Location
New York, New York, United States of America
Date
Aug 18, 1908
Page
13
Traders showed a general air of indifference in brokerage offices though bullish and bearish camps clashed in views. Some optimism about a rebound emerged from technicals, while bankers and brokers admitted ignorance of reserve figures and bank statements influence.
The Controller of the Currency release shows national banks cut total loans by over 92.9 million while New York City banks boosted loans by about 1.5086 million. Cash holdings rose by 96.4 million in New York and 162.596 million countrywide, with deposits up 55.5 million overall. Reserve ratios rose to 27.05 in reserve cities from 25.79 last year, and 17.02 for banks, up from 16.5.
Allentown Pennsylvania court names John F. Wenner receiver for Allentown SRUcees and Machine Company an ER era local industry dating back to 1887 with an asset base around 3600 000 and annual output of 300 000 while facing a molders strike three years ago and recent downturn liabilities about 155 500.
Sioux Falls report states Judge Carland of the U S Court sentenced George D. Horres former cashier of Hot Springs National Park to five years in Leavenworth for making false reports and embezzling 325 450 dollars.
Fragmentary OCR item with mixed letters and stray phrases about quotes and local exchange. No clear people, places, dates, or events readable enough to summarize meaningfully.
The weekly report from the Associated National Banks of Boston indicates a decrease in overall deposits and reserves across major institutions.
Minority stockholders of the Chicago Terminal Transfer Company pursue foreclosure relief as Baltimore & Ohio plans move forward. Burlington ownership is said to hold little value to them and the fight centers on lease compensation and control amid ongoing court actions with a hearing set for October.
Cotton futures rose sharply as Wall Street bulls reportedly took at least 30 000 bales of October while the market closed firmer. Spot markets varied little, with snot cotton at 19.59 inland and 10.75 Gulf, and regional sales totaling several hundred bales.
United States Weather Bureau forecast for Tuesday and Wednesday covers North Carolina South Carolina Georgia Florida Alabama Mississippi Louisiana Oklahoma Arkansas Illinois Indiana Michigan Wisconsin Minnesota Iowa Missouri North Dakota South Dakota Nebraska Kansas and Kansas. Expect showers in many areas with fair and cooler conditions on Wednesday.
Coffee market opened higher by a few points then closed steady with little change. Trade noted 27,750 bags sold and activity limited due to a local holiday. Rio No. 7 offered but spot prices remained quiet. Contract price range reported but details unclear due to garbled OCR.
Local market reports show copper prices trimming bids and asking rates in London with spot copper down 6d from Friday’s close and futures slightly weaker. Tin and lead also softened, while zinc and iron warrants held steadier, with New York Metal Exchange quotes for spot and futures reflecting mixed gains and losses.
Wheat prices fell to new lows after protective government reports. Interior markets declined amid active selling by commission houses and weak export demand. Cash wheat ranged No 2 red 90 cents to 1 dollar. corn held steady amid weather concerns and lower world shipments.
Aug 17 reports show money ample and discounts easier in London. Austria seized most of 2.5 million dollars in gold. American securities held steady, with Canadian Pacific rising on favorable crop news. Paris close shows three percent rentes firm at 86 francs 87% centimes, while Berlin Boerse stays firm on New York cues.
Quotations for American mining stocks in London yesterday show Camp Bird at 13 9, Esperanza 8 15 9, Fomboyseeaeed 0.52 2 10, Stratton's Ind. 0 10, and Peru in Aus 17. The Imperial Bank of Germany weekly statement reports cash in hand up 32,129,000 marks, loans engaged up 5,944,000, discounts up 871,000, treasury bills up 35,450,000, currency in circulation down 9,621,400, deposits up 12,559,000 marks.
Annual meeting of Norfolk and Western Railway Company stockholders to be held in Roanoke Virginia on October 9 at 12 noon. Elections of directors and auditors, review of directors report for year ended June 20 1908, approval of potential acquisition of several combining railways, and other business. Stock books close September 23 and reopen October 6 1968. By order of the Board.
The Chicago Indianapolis and Touteville Railway Company and J Applegate Co announce stockholders meetings. The first seeks directors for expiring terms on September 18 1908 in Indianapolis with books closed August 24 to September 17. The second sets a September 5 1908 transfer book closure at 4 PM and a 3 PM directors meeting in Manhattan.
Sealed tenders for the purchase of the Baie des Chaleurs Railway from Metapedia to Caplin Bonaventure P Q with rolling stock and franchises will be received by the Registrar Exchequer Court of Canada in Ottawa until noon on June 9 1908. Tenders on printed forms may be obtained from Casgrain Mitchell & Surveyor Advocates Montreal for details. Dated June 10 1908.
Tender invites for Atlantic and Lake Superior Railway from Caplin to near Paspebiac in Bonaventure County to join the Atlantic Quebec Western Railway. Total length twenty miles with rolling stock and franchises, due by September 9, 1903, at Ottawa Registrar.
The firm of RIM STEIN ROSENTHAL & LEIBSON at 02 Greene Street New York City dissolved on August 6 1998. All liabilities will be paid by MAX RIMSTEIN and LOUIS ROSENTHAL who continue as RIMSTEIN & ROSENTHAL. Nathan Leibson remains referenced in the notice.
A 1908 Boston dispatch frames a bold stock-pumping pitch for National Stock and American Smelters, urging quick action on Smelters to 112 and predicting bursts in St Paul Yukon Amalgamated and First National. The letter defends stock gambling as a reform while promoting a new “National Stock” system to curb manipulation.
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