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Newspaper
New York Times
Location
New York, New York, United States of America
Date
Dec 11, 1908
Page
14
Outside securities traded light with Rawhide stock tumbling across the board. Copper issues showed mixed moves while United Copper rose from four percent on moderate turnover. Main highlights included Goldfield Consolidated and Chicago Subway with lower close prices after limited volume.
Special to The New York Times reports from Do Springs Colorado on December 10 with incomplete digits and scattered race scores. Names Isabella Portia and McKinney appear amid a jumble of figures.
A fragment notes a large gold export worth 2.5 million dollars linked to a bank and seamen. The garbled text mentions City Bank and a yesterday event though specifics are unclear.
London traders held off with Thrity money in supply and discounts quiet as news from Vienna steadied gilt edged securities. American securities rose modestly with Harriman issues and Canadian Pacific leading gains. but later offerings created uncertainty. Mexican rails remained firm with improved traffic. Paris and Berlin bourses closed firm with limited activity and higher American securities.
A brief note lists mining stock names and figures in London. The table includes Camp Bird and Tomboy stakes with fractional percentages, and several other ore prospects such as Esperanza and Dolores. Market context is concise and non-graphic.
London: The Bank of England reports a smaller weekly reserve with declines across circulation bullion and deposits. Total reserve down £623,000 and public deposits down £615,000, while government securities stay unchanged. The reserve to liability ratio rises to 48.69 percent from 48.50 percent.
Paris reports weekly bank figures with notes in circulation down 117.4 million francs and treasury deposits down 11.523 million, general deposits down 2.35 million, gold held up 26.15 million, silver in hand down 50 thousand, bills discounted down 245.841 million, and advances reduced 325.0 million francs.
The cotton market closed barely steady with a net decrease of 16 to 21 points after a weak session. Estimated sales reached 300,000 bales as traders reacted to government crop estimates and South reports showing spots not rising with the government data. Local spot prices moved higher for middling upland and Gulf, while Southern markets varied with mixed gains and losses across Savannah, Norfolk, Augusta, Mobile, New Orleans, Memphis, and Houston.
The forecast from the U S Weather Bureau covers Friday and Saturday. It lists cloudiness rain showers and warmer conditions for North Carolina South Carolina Georgia and Alabama Mississippi with varying wind directions. It also notes cooler days in the west and cooler nights in many states including Kentucky Ohio Indiana Illinois and Wisconsin with fair conditions by Saturday. The report includes specifics for Utah North and South Dakota Nebraska Oklahoma Kansas Arkansas Michigan and Iowa Missouri and Minnesota.
The London market shows firmer tone with copper advancing 10s on spot and futures to 63 2s 6d and 64 2s 6d. Pig tin rises 7s 6d spot to 132 7s 0d and 134 5s 0d futures. Lead holds at 13 5s, spelter weak at 20 12s 6d, iron warrants firmer at 47s 7d standard and 48s 7 44d Cleveland.
The St Marys Academy at Nauvoo Illinois faces trouble from the collapse of Fidelity Funding Company led by P J Kieran who financed a waterworks and railroad project for the Benedictine sisters. Banks and Catholic dioceses back the notes as collateral, but officers acknowledge heavy debt and misaccounting amid a broader scrutiny by receivers and trustees.
P J Kieran, president of Fidelity Funding Co, allegedly drew 1 million dollars from clergy in the Pittsburg district. Receiver Gilroy disclosed the figure in New York, while priests’ representative D Behen warned of prior concerns about Kieran’s dealings. Lawyer D Behen says total losses may reach 250000 dollars.
A New York Supreme Court trial opened over Henry L. Wolff’s suit demanding ex Chief William S. Devery complete a house purchase at 324 West Eighty-Eighth Street. Wolff testified Devery paid 100 dollars as an option. Devery admitted a five day option and claimed no contract was signed.
A Connecticut election court action targets Congressman George Lilley and Col. I. M. Ullman over alleged illegal campaign expenditures and saloon payments by brewery interests. The complaint, filed by George L. Fox, seeks truth in the Corrupt Practices Act case, with Lilley denying wrongdoing.
Lawyer for Mrs. Louisa Schloss presents a translated letter from France claiming another woman stole the goods and asking forgiveness. Schloss's adjourned examination is set for this morning in Jefferson Market Court as her counsel disputes the accusation.
District Attorney Jerome Walsh reported to police officials that the Fourth Inspection District covering West Forty-seventh Street West Sixty-eighth Street East Thirty fifth Street and East Fifty-first Street stations has been cleared of gambling houses. One precinct shows several arrests and closures as part of the purge.
State of New York invites sealed proposals for Erie Canal superstructure and approaches at Wappings 2.5 miles west of Fairport. Proposals due January 5, 1909. must include 5 percent bid security and bonds totaling 35 percent of estimated cost. Plans and specifications available in Albany Syracuse Rochester and Buffalo offices.
Paris 27 reported at the French Academy of Science meeting that Louis Paris had synthesized blue sapphire crystals by coloring with a tiny amount of lime and magnesia. Twenty artificial stones were tested against five genuine sapphires, with experts failing to distinguish them until microscopy revealed the illusion.
Vice Chancellor Howell of Newark New Jersey authorizes the sale of several gas leases owned by United Box Board and Paper Company. The leases cover gas fields in Township of Licking Blackford County Indiana. Proposed buyer is Charles E Ruger receiver for Muncie Gas Light and Fuel Company of Muncie Indiana.
Shareholders of the Antofogasta and Bolivia Railway Company in London approved the contract with Speyer & Co and National City Bank to acquire control of Bolivia Railway. The Antofagasta group buys half of 18.75 million dollars of 5 percent first mortgage bonds and three quarters of the 10 million dollar Bolivia issue. The American syndicate has completed over 120 miles of track and calls it the line nearest the clouds, tapping mining districts and linking thriving cities.
Good road bonds of Saratoga County with face value 190000 sold for 107427 to Halsey & Co New York City. Twenty four bidders competed for the bonds which carry 5 percent interest.
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