Wall Street Sees Mixed Signals on Banks and Steel
Weekly bank reports attract attention as surplus reserves ease concern while some lenders gain from interior business. Bond market dulls with large concessions and opaque orders. a sharp bond sale in London and Berlin follows an aggressive broker maneuver. Steel and iron outlook improves on Pennsylvania rail orders, with cautious optimism for a quicker recovery despite expected weak early-year earnings.
MENTIONED IN THIS ARTICLE
Pennsylvania
Enjoined Refinancing Probe In American Steel Foundries
Vice Chancellor Howell orders the American Steel Foundries to show cause next Tuesday why it should not be enjoined from pursuing a proposed refinancing plan. A special meeting at 15 Exchange Place Jersey City was postponed by chancery orders. Edward Cokie filed the application for David Strauss holder of 973 preferred shares worth 100 each. The bill names BE. H. Gary and others in the Steel Foundries as defendants. It notes preferred stockholders are entitled to full payment before common stock, and the refinancing would divert assets to satisfy accumulated preferred dividends.
MENTIONED IN THIS ARTICLE
American Steel Foundries
United States Steel Corporation
Howell
New Jersey Court of Chancery
Exchange Place
Jersey City
Edward Cokie
David Strauss
Deceees
American Foundries
H. Gary
Steel Foundries Company
New Haven Earning Outlook Cut by Railroad Reorganization
New York New Haven Hartford Railroad outlines seven divisions from February 16 replacing ten. Major earnings drop expected for January between 600k and 700k with fixed charges rising from new 25 million convertible debentures, while operating expenses trim at least 200k. Net January earnings may fall 450k to 500k, with further reductions possible.
MENTIONED IN THIS ARTICLE
New Haven
Conn
New York, New Haven & Hartford Railroad Company
New York
Shore Line
Providence
Boston
Old Colony
Midland
Western
Gates Family Wall Street Chapter Sealed With Selloff
Reports from New York indicate C G Gates & Co dissolved last year and the Gates father and son exit the market. Seat prices floated to high levels prior to the latest sale and the Tub Twelve Partners firm earned vast commissions before dissolution. Charles Gates, late of Baldwin Gurney & Co Chicago, began his career there before joining the Wall Street house.
MENTIONED IN THIS ARTICLE
New York
California
Stock Exchange
Wall Street
Gateses
Father
C. G. Gates & Co
Charles G. Gates
Gates
Twentieth Century Limited
C.G. Gates & Co
John W. Gates
Joh W. Gates
Europe
John W! Gates
Aew
Gates Securities
Gates House
John. W. Gates
Banking Statements Show Clearing House Averages
Two bank statements today report figures from the Clearing House and the State Banking Department. Columbia Trust Company, once led by Clark Jems, filed the first report under new rules, indicating loans and investments at 5 222 768.83 and cash reserves at 2 236 732.90.
MENTIONED IN THIS ARTICLE
Clearing House
State Superintendent of Banks
Clearing House Association
Ofice
State Banking Department
Columbia Trust Company
Clark Jems
Williams
New York City
New York
Union Pacific Plans Convertible Bonds and New Stock
Reports circulate that Union Pacific may issue bonds later this year and sell first mortgage bonds on a planned extension. Bankers tied to Harriman properties say no immediate securities issue will occur unless terms are favorable to the railroad.
MENTIONED IN THIS ARTICLE
Union Pacific
Ortat WO
First Mort
Union, Pacific
Harriman
Special Stockholders Meeting for Giroux Consolidated Mines
A special meeting of the stockholders has been called for February 25 to authorize an increase of 306000 shares in capital stock to support 1500000 dollars in convertible bonds approved earlier in the week. The retiring officers have been re elected.
MENTIONED IN THIS ARTICLE
Giroux Consolidated Mines
Cotton Market Weather in Cotton States and Prices
Federal forecast shows fair conditions across most cotton states for Saturday and Sunday with varying winds. Sales for the day reach 225,000 bales. markets open steady with minor gains, exports ahead of port receipts by about 43,000 bales. Local spot prices hover around 11.70 for middling upland with regional quotes diverse across Mobile Savannah Norfolk Augusta and New Orleans.
MENTIONED IN THIS ARTICLE
New York Times
Washington
Federal Bureau
North Carolina
South Carolina
Georgia
Florida
Alabama
Mississippi
Louisiana
Fastern
Texas
Panhandle
Oklahoma
Arkansas
Tennessee
King
Canada
Tare Gulf
Savannah
Ikye
Norfolk Quist
Augusta Steaidy
Yeston
Myer
New Orleans v
Memphis Crear
Grain and Provisions Market Report Highlights
The report notes strong demand for wheat with Argentine shipments of 5.72 million bushels, Winnipeg reports of a government purchase for seed, and light export interest. Cash wheat prices held firm with No 2 red at 1.0215 elevator, No 1 Northern Duluth at 1.17 and No 2 hard Winter at 1.19. Corn shows a general upturn with Liverpool higher and cash No 2 corn at 0.70 elevator and 0.63 free on board afloat.
MENTIONED IN THIS ARTICLE
Winnipeg
Sealboard
Atin Polis
Duluth
Liverpool
Paris
Sec
Berlin
Budapest
Red
Northern
New York
Coffee Market Shows Quiet Trade Across Major Ports
The market opened unchanged to 5 points lower with limited movement. Havre stayed flat to 1 higher, then erased gains. Hamburg held steady to 14 pennings lower. Brazil markets reported no changes. Receipts for the ports totaled 22 000 bags, down from last year and two years ago. Jundiahy receipts stood at 12 000 bags, also down from prior periods. Season receipts are about 178 000 bags below last year, with movement around 400 000 bags under two seasons ago. Spot coffees remained steady with Blue Rio No. T quotations, while contract price ranges in the 1 markets were listed.
MENTIONED IN THIS ARTICLE
Havre
Hamsburg
Jundiahy
Rio No. T
Conditions of Trade Show Little Change Across Country
Reports from Dan's Review note little improvement in the commercial scene with progress only marginal. Mercantile collections vary by district. railway January earnings down 14.2 percent from last year but improving week by week. Foreign trade at port reports exports 623,713 and imports down 8,778,605 versus 1907. Bank exchanges in New York off 30.2 percent, other cities down 15.7 percent. Bradstreet's adds retail weather driven gains offset by weak wholesale activity and cautious spring buying.
MENTIONED IN THIS ARTICLE
Dan
New York
Bradstreet’s
Detrat United Railway Company Annual Report Highlights
The year ended December 31 shows total income of 2 668 707 with a 265 388 gain. Expenditures for interest fund floating debt dividends paid and depreciation leave a 494 708 surplus, up 209 662 from last year. Stockholders authorize sale of 750 000 consolidated mortgage 4 percent bonds.
MENTIONED IN THIS ARTICLE
Detrat United Railway Company
Schwab and Johnston Sail to Discuss Russian Warship Plans
Charles M. Schwab and Archibald Johnston of Bethlehem Steel sail for Europe to arrange with the Russian government for battleship construction. Bethlehem’s plant has been enlarged to increase armor plate output as U S business falters, with prior ties to Russian navy rebuilding noted.
MENTIONED IN THIS ARTICLE
Charles M. Schwab
Bethlehem Step Corporation
Archibald Johnston
Europe
Lusitania
Schwab
Russia
Bethlehem Steel Corporation
Bethlehem Steel Company
United States
Shipbuilding Company
Union Iron Works
San Francisco
Oregon
Atlantic
Carnegie Steel Company
Midvale Steel Company
Bethlehem Corporation
Owe Ee
European Markets and Auction Notice Amid Global Slump
London money tight with easier discounts on gold outflow. European stock activity dull as Britons hold back and Con sols rise late. Paris and Berlin trade weak with lower prices and uncertain demand. Auction sale lists numerous stocks and bonds led by Knickerbocker Trust Co. executors and trustees with wide holdings including Carnegie Trust, Chase National Bank, and Louisville & Nashville R R.
MENTIONED IN THIS ARTICLE
London
Stock Exchange
New York
Baltimore
Ohio
Paris
M.o
Andrew J. McCormack
Adrian H. Muller & Son
William ST
Allock
Exchange
Vesey Street
Knickerbocker Trust CO
Borough Bank of Brooklyn
Guardian Trust Co
Pew
Trinity Church
New York Society Library
Sth
Avenue
R. R. Co
German-American Insurance Co
German Alliance Insurance Co
Robert Graves Co
Cen &Anchester Railway Co
Sistatge
Carnegie Trust Co
Carnegie Trust. Co
Louisville & Nashville
R. R
New Orleans
Mobile
Lake
Erie & Western
Cal & HR
Cal
Greenwood Lake
Fulgon Street
Carregie Trust Co
State Bank
Nail, Bank
Chase Nail
Hankh
Chase Nail, Bank
Alway -Gen'l & Coll. Trust Atq RR
Second Avera
Broadway T
Carnegie Trst Co
Chase Nati
Uank
Second Avenue
HR. R. Co
Central Park
North
Washneton, DL
Realty Banking & Trust Co
Washington
Carnegie ‘Trust Co
Chese Natl
Rank
N. Y. Life Ins. Co
Hves
Adolph BR
Tode & Jobh Walling Jr
London Tube Financing Committee Formed in London
A London committee is formed to cooperate with Speyer & Co to readjust the finances of the London Underground Railways. Members include Edwin Waterhouse J Spencer Phillips Marlborough Pryor Thomas Skinner John Akroyd and Lyndon Mackay as secretary. The group will work with the board and Speyer Brothers on the 6 percent notes and the financial requirements of the Underground Electric Railways Company of London.
MENTIONED IN THIS ARTICLE
London Underground Railway
London
Speyer & Co
Underground Electric Railways Company of London
Edwin Waterhouse
J. Spencer Phillips
Lloyds Baonk, Limited
Marlborough Pryor
Sun Life Insurance Company
Thomas Skinner
Canadian Pacific Railway
Bank of Montreal
John Akroyd
M. P
London Stock Exchange
Lyndon Macassey
Messrs. Speyer Brothers
Financial notes on stock exchanges and company appointments
Utah Copper Company rights admitted to NYSE quotation. Thomas J. Phillips named general partner at Webb & Co. Directors elected for United Electric Light and Power Company. Swartwout Appenzellar publish list of railroad bonds with prices and yields for 1906 1907. Spencer Trask publishes 1908 statistical tables booklet. Metropolitan Street Railway bondholders committee formed to protect interests and seeks bondholding information at Guaranty Trust Company NY.
MENTIONED IN THIS ARTICLE
Utah Copper Company
New York Stock Exchange
Thomas J. Phillips
Consolidated Exchange
Webb & Co
Broadway
United Electric Light and Power Company
Henry J. Hemmena
Cortland Betts
Arthur H. Elliott
Osborn
W. Bright
H. B. Gantry
William Bunker
Swartwout & Appenzellar
Alexander J. Hemphill
Donald Mackay
Edward H. Ladd, Jr
Metropolitan Street Railway Company
General Mortgage
Guaranty Trust Company of
New York
Nassau Street
Bondholders Urged to Deposit Consolidated Mortgage Assets
A committee representing holders of Detroit Toledo Kentenay Co consolidated mortgage 1903 bonds and scrip demands deposit of all bonds and script in negotiable form with Central Trust Co New York by Feb 1908. Depositories at 54 Wall Street and an official secretary oversee the process. further notices will specify deposit timelines.
MENTIONED IN THIS ARTICLE
Detroit
Toledo & Kentenay. Co
Voix
Ea Ee
Wall] Street
New York City
Goecnallé
Consolidated
Central Trust Company of
New York
Union Railway
Russell Harding
Robert M. Gallaway
James Jsourdan
J. Lisman
C. W. Watson
Westchester & Bronx Title Guaranty annual meeting notice
Notice of annual meeting for stockholders of Westchester and Bronx Title and Mortgage Guaranty Co. to elect directors and inspectors, with meeting details and election procedures. Also lists other company notices and dates for related corporations.
MENTIONED IN THIS ARTICLE
Westchester
J. Crawfore
Proposals for Lighting Standards Bid in Atlantic City N J
Sealed bids for furnishing lighting standards including corner and intermediate types will be received by the city clerk at city hall on February 24 1998. Proposals must include a 2500 dollar certified check and a 5000 dollar bond. Blueprints and forms available from City Engineer or Carrere Hastings Architects.
MENTIONED IN THIS ARTICLE
Ity
Atlantic City
N. J
Council
Alber Beyer
Bartlett Building
Carrere & Hastings
Fifth Avenue
New York
John Donnelly
J. W. Hackney
Police Department
City OF New York
Mulberry Street
Central Department
Department OF Bridges
Park Row
Borough of Manhattan
Brooklyn Bridge
City
James W. Stevenson
Department OF Water Supply, Gas and Electricity
Borough of
Brooklyn
Guy
J H. O'Brien
City of
Water supply real estate acquisitions in Ulster County
Judicial District notices reveal the City of New York seeks to acquire land in Hurley town Ulster County for a reservoir to expand water supply. Separate appraisal reports prepared by Edgar Eearsman Edward RLck and Charles F L Cox outline proceedings with hearings set at Kingston Ulster County court house amid assessments paving and sewer work items.
MENTIONED IN THIS ARTICLE
Edward Simmons
Charl Wick
Charles A. StEyt
Board of Water Supply
City
York
City of
New York
Hurley
Ulster New York
Ami
Cait
Kimmetonister
Orier
Pendleton
Yor City
Sureme Court
Nam
Troin
RD Ward
Terome Avenue
Thearlema River
Ward
Secton
Coster Street
Hunt's Point Road
Edgewater M Road
Herman A. Metz
Guty
Also Mentioned on This Page
Bond House
Steel and Iron Outlook
G. Gates
House of Twelve Partners
U. P
Giroux Mine Co
Grain and Provisions
Chicago
Ee Ns Oe
Eeeersnree
Eeree
Eenne
Deere Se
One
Detroit United Railway Report
Bethlehem Steel Co
Ameran
Previns
N.Y Néteen
Equiv
Ch'ge
Considis
Conse
Ananda
Serene
Tj Atchison
Erie
Toul & Nash
Ycae
Pennyylvania
ATS
Reading Coos
Union Pac
Pt Eeee
London Tube Financing
Financial Notes
Chicago and Great Western Railway
W. J. Hayes & Son
Chamber of Commerce
Cleveland
National Shawmut Bank Bldg
Mass
Henry V. Poor
Joline, Larkin
Rathbone
Guar+enty Trust Company of
Broad St
Eagle Savings and Loan
Remsen ST
N. Y
Lorough Hall
Metal Market Reports
J.cad
Standard Foundry
Middlesborough
New York Metal Exchange
ASS Rit
Bild
Awitee
Sm LO Arte
Greenwich
Consolidated Lea Company
New 3
Lea Niay
Boo Tehtar
Nasr Futi , Beoueh
Manhattan
New
Loko
Sipeg Itr
B.omon
New Yorko -Opahy Tsp
Fies
Greater
Faanarkis
I. News of the Siateoo
Wite
General Busi
Lat Brorowuch
M Ness
S. Rubenstein
OLD Dominion Steamship Company
Beach Street
Ney
Feptuning
Bern
Eas P-M
Bo. Palen
Atlantic Mutual Insurance
Americ
Comiuns
Clese
Ae. Iuer
Secrevary
Smith & Hessler Company
Greenwich St
Jagh Hmpssler, Jr
Fenimore Knitting Mills
Nassau Steet
Brewster
United States Security Company
Pine Street
Ben J.strong
THE
American Institute
West 44Th St
Office of Commissioner of Immigration
Ells Island
U. S. Immit Station
Fills Island
N. H
Robert Watchorn
Department of Taxes and Assessments
Hall of Records
Greater New York
Brorz
Queens
Richmond
One Hundred and Seventy-seventh Street
Third Avenue
Hackett
Jackson Avenue
Fifth Street
Long Island City
Borough Hall
New Brighton
Staten Island
Department
Peran
Department of
A. M
Noom Lawson
Frank Raymont
Creeebas
S_.LER
James H.euclay
Cras
Twigh Hastings
Tates and
Lowe
Gr of Asessors
Pois
Afenne
Gyurmernnt
Vandernilt
Streit
Green
S. Sewer
Treirs
Halsivy Street
Willog
Ing
Siren
Bradway
Antonto Zuceca
Wilestam
Jasper
Nolste Broalwar
Department Parks
Arsenal Building
Sixty-fourth Street
Park Board
Department of Parks
Richemond
Manhatan
J Z
Joseph E Berry
Michael J. Kennedy
Commissioners of Parks
Wgied
Parks
Mamba
Saecemen
Henry Smith
Joseph J. Free Michael J. Ennedy
Commissioners of Park
Department OF Corrections
East Twentieth Street
Commissioner of Correction
Eer
Isbor
John V. Coggey
Commipstoner
Department OF Docks and Ferries
Battery Place
Hoon
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