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Newspaper
New York Times
Location
New York, New York, United States of America
Date
Dec 12, 1902
Page
1
The money market shows renewed strain with time loans at 7 to 9 percent and call money comparatively easy. Banks favor lending to customers at 8 to 9 percent while brokers seek renewals for thirty to sixty day notes, signaling tighter liquidity than last year.
A sharp Wednesday decline extended on Thursday with many active issues dropping 3 to 4 points and a 12 point plunge in North American. Total turnover exceeded 1.1 million shares as bears pressed margins while banks provided crucial support to halt panic.
The Pennsylvania 20-hour special offers unparalleled service to Chicago. It leaves New York and Brooklyn daily.
Philadelphia December 11 Following a sharp drop in Consolidated Lake Superior shares a special directors meeting was held. The company denied any mill closure due to lack of orders, citing material non delivery. Decline cut common stock from 19.50 to 9.25 and preferred from 368 to 50 amid a $12 million loss in value.
Officials announce several offers for the bank's 450000 capital stock and equal surplus. President Morris Newburger says the Finance Committee will review and decide if sale benefits stockholders, with board and stockholders to vote if pursued. Bank loans stood at 2700413 and deposits at 2241164.
A new corporation named the Netherlands Tramway Company is formed in Bridgeport with capital stock of 3,040,000 to build operate and lease railroads and tramways by steam electric or other power in foreign countries or the United States excluding Connecticut. Incorporators include Louis Grant Brooklyn NY Richard McInning and Charles K Lark of New York.
In Honolulu on December 5 a fast voyage by the schooner Tildeo Starbuck from Honolulu to New York with 3,166 tons of Hawaiian sugar reduced potential profits. If the ship had taken two more days, buyers would have paid $12,600 more under market pricing on arrival. The Dirigo, carrying 5,500 tons, is 174 days out and seen as likely to profit if it arrives safely.
Cornelius Vanderbilt has not reached the crisis stage in his illness. Dr. Austin Flint Jr said the crisis will come in a week at most and the patient is progressing satisfactorily. Dr. Janeway and others think he will pull through though nothing is certain. A bulletin at 8 p m stated he is progressing satisfactorily with no complications.
Round Trip tickets to California on sale at all ticket offices via Chicago and North Western Union and Southern Pacific Bus. Offices 401 287 and 349 Broadway. Adv. Krementz One Piece Collar Buttons touted as an ideal gift at all Jewelers. Adv.
Thomas Fortune, a New York colored Republican, named special commissioner to study colonization prospects for African Americans in Hawaii and the Philippines. War Department signals possible emigration initiative amid debates on race and citizenship, with experts to evaluate ethnology and economics before any action.
Negroes from across Alabama met in SHLMA to form a colored Republican Party. Resolutions endorsed President Roosevelt for not recognizing Alabama's Lily White faction. An address urged appealing to Democrats to gain registration next week as state registration closes. Booker T. Washington was not present.
Harvard’s Cercle Francais presented Te Menteur by Corneille at Brattle Hall before a mixed Cambridge Boston and New York audience. Six cast members are sons of New York millionaires, with others from prominent families. A G Champolion played Geronte and I B Thompson Dorante Lementeur, J V Blanchet Philiste, and F E Judson Clarice delivering professional quality performances.
At the fall meeting of Princeton University trustees it was announced that Morris K. Jessup of New York city contributed 10000 to the Morris Jesup Fund for the library. The estate of the late Professor Humphreys funded 1000 to establish the Mary Cunningham Humphreys Junior German Prizes.
At Princeton on December 11 the sophomore class voted to abolish petty hazing known as horseing and stop one sided snowball fights against freshmen. They also condemned the practice of trotting readings during exams where sophomores force freshmen to read translations while they follow in the text.
President Angell and the Michigan University Faculty Senate condemn student wagers. About $4000 was posted at a hotel on Thanksgiving Day football, and authorities warn that future bets by students in university events will face suspension.
Passage of the 20th Century Limited train from New York at 2 45 P M to Chicago the next morning is advertised. An advertisement promotes Pico's Cure for Consumption as an effective remedy for a persistent cough.
J H Mull of Cramp Shipbuilding cites International Association of Machinists members who allegedly damaged the Alabama and the Thomas during the Spanish American War to pressure ships to strike. He says the War Department and Col Bird investigated, though the incident was buried in archives.
At the regular Alton council meeting an anti spitting law was enacted. Offenders face a fine of five to two hundred dollars. Police will enforce the measure to keep streets clean. The ordinance follows efforts by local women who urged Health Officer Smith to act. Some opponents now vow strict enforcement to keep Alton spotless and spitless.
Joseph Madden a sixteen year old from East One Hundred Twenty-Eighth Street ran to East One Hundred Twenty-Sixth Street police station to report a man in trouble. Henry Bartlett a 52 year old electrician fell into the Harlem River at Second Avenue and was saved with the help of the boy and Officer McGrath aboard the tug Inwey.
The Manhattan Railway sustained a second major setback as sleet froze on the third rail, cutting power to the elevated lines after 4 PM. Trains stalled, express service halted, and riders faced delays across Second and Third Avenues, with locomotives summoned to push cars and passengers redirected to surface lines.
A fatal blaze at 1 AM in a brick building at 849 East Tenth Street killed William Glaser, a 35 year old salesman. Fireman James McGough was badly burned rescuing occupants and could not recover Glaser in time. the ground floor housed a butcher shop and the upper floors included Free Methodist Church rooms. Property damage is pegged at $3,000.
The Appellate Court held the Board of Trade may suspend members who violate contracts or obligations. Judge Adams dissented in the decision that reversed Judge Chytraus’s injunction. The case centers on a $32,000 claim by the McNeil Grain Company of Sioux City against its Chicago agent, the Weare Commission Company.
Miss Fannie Knowles of Grant Avenue East Newark had been totally blind for a decade. Two cataract removal operations by Dr. Morgan restored her sight this afternoon. Ivy poisoning while gathering flowers in Harrison ten years ago had left her blind despite years of treatment.
A brief noting Dewar s Scotch complements the best American highballs in a cosmopolitan bar scene with a nod to pairing quality spirits with classic cocktails.
A brief note states the Pennsylvania Special enables a business man to save four hours while en route, allowing him to pursue business duties during travel.
Brief item notes a shift from winter energy to gentle sun between Chicago and California. Mentions limited route via Rock Island and 401 B'way, with a casual promotional tone.
A large, angry crowd at the Twenty third Street station of the Second Avenue line demanded refunds after a halfhour wait for a train from Fourteenth Street. Police intervened as the crowd pushed for transfers or refunds, but the ticket seller had no authority to refund. The fracas extended to Forty second Street as more riders joined, with no violence reported.
After a prolonged debate the convention adopts an amendment to the state constitution in favor of woman suffrage by 145 to 92 on a roll call. A reconsideration is moved and another vote will be taken. The change removes the word male from the suffrage clause.
The body of 72 year old Frances A Bartlett was found in Northampton Massachusetts guarded by a Newfoundland dog after she suffocated from coal stove gas. Her brother 65 year old Arthur Bartlett was unconscious and critically ill. Chief Maynard was bitten but not seriously harmed.
Five masked men raided stores and dwellings in Wallington New Jersey last night injuring Morris Zimmermann who was shot in the right ear. Deputies led by Chrystline pursued the group but the gang eluded capture as they escaped with hold ups. Michael Healion aided after being held up.
A noon blaze at the State Home of Feeble Minded Boys and Girls near Vineland, New Jersey, wiped out a big barn and its elite dairy interior. All livestock were saved, crops burned, with about 15000 dollars in losses and roughly 8000 dollars insured. Firemen struggled to hold the fire from spreading.
Ninety five midshipmen at Annapolis are on the sick list after suspected foodborne illness. Affected cadets are scattered through the hospital and regular duty is only partly disrupted, with most able to perform duties.
Investors read The Wall Street Journal as a guide to accuracy and completeness in reporting. Dow Jones & Co. emphasizes precise, full coverage in its publication and advertising.
An aristocratic whiskey is praised as a standard of quality in a Layties Brothers advertisement from New York. The label touts its refined heritage and nationwide appreciation among discerning customers.
Dispatches report Venezuelan authorities seizing British and German consuls at Puerto Cabello and a British coal steamer. Curacao sources say bluejackets landed at La Guayra to capture President Castro amid street fighting rumors. Ferrer brings 2000 Venezuelan troops to La Guayra as tensions rise and foreign warships monitor the crisis.
British sloop Alert seized the Venezuelan troopship Zamora and coast guard vessel Veinté Tres de Mayo in the Gulf of Paria and towed them to Port of Spain Trinidad. British cruiser Indefatigable arrived at La Guayra last night, believed hunting the gunboat Restaurador.
Minister Bowen in Caracas confirms German and British prisoners freed. Officials say release reduces the threat of war as the allies pursue a peaceful blockade and potential temporary seizure of custom houses. German ambassador von Hollenden and British ambassador Herbert thanked Bowen for his services.
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