Wall Street Brokers Cite Market Conservatism Amid Turbulence
A Wall Street trader notes client apathy and a shift to long positions before year end. Analysts discuss a brokerage failure and its sentimental market impact, plus views on manipulation and the German Bank rate cut. The Aldrich bill and Clearing House trust rules also dominate chatter among district financiers.
MENTIONED IN THIS ARTICLE
Bear Houses
Clearing House
Maclay & Co. to Quit as Western Ice Liabilities Hit 1.2 Million
Robert Maclay & Co of 71 Broadway suspends business amid estimated 1.2 million dollars in liabilities secured by collateral. The firm, linked to Western Ice securities and Knickerbocker Trust notes, may resume operations without an assignment, per attorney Charles I. McBurney. Head Robert Maclay is son of ex Knickerbocker president Alfred Maclay. Weeks and Harold H. Weeks noted Columbia football figure.
MENTIONED IN THIS ARTICLE
Robert Maclay & Co
Broadway
Stock Exchange
Thomas, Maclay ,& Co
Western Ice Company, & Corporation
E. R
O. F. Thomas
Canadian Pacific
Charles I. McBurney
Western Ice Company
Maclay & Co
Knickerbocker Trust Company
Robert Maclay
Alfred Maclay
Hamilton Bank
Harold H. Weeks
Alfred B. Maclay
Weeks
Columbia
Foreign Markets Show Easy Money Amid Rate Cuts and Morocco Crisis
London traders anticipated a Bank of England discount rate cut as prices rose slightly on gilt edges and foreigners while settlement and new issues limited activity. American shares improved in early trading on strong New York bank data and Atlantic orders, but profit taking cooled gains. Berlin reduced its discount rate to 6 percent yet Morocco tensions kept markets unsteady with Americans generally firm.
MENTIONED IN THIS ARTICLE
London
Bank of England
Stock Exchange
Imperial Bank of Germany
New York
Southern Railway
Bears
Continental
Canadian Pacific
Norfolk and Western
Berlin
Morocco
Missouri Pacific Plans $1,085,200 Stock Listing On Exchange
Missouri Pacific Railway Co applies to list additional capital stock totaling 1,085,200 on the Stock Exchange. John W. James Jr now heads the bond department at Wrenn Lres & Co 24 Broad Street. The Hand-Book of Securities by the Commercial & Financial Chronicle offers compact data on railroads and leading industrials traded on major exchanges with 1906 07 ranges. Group VIII bankers banquet at Waldorf Jan 7 will feature David R. Forgan Dr Aked President Butler and Patrick Murphy with Alexander Gilbert as toastmaster.
MENTIONED IN THIS ARTICLE
Missouri Pacific Railway Co
The
Stock Exchange
John W. James, Jr
F. J. Lisman & Cov. S
Wrenn Lres. & Co
Broad Street
Commercial & Financial Chronicle
New York
Boston
Philadelphia
Chicago
New York State Bankers’ Association
Waldorf
David R. Forgan
National City Bank of Chicago
Aked
Fifth Avenue Baptist Church
Butler
Columbia University
Patrick Murphy
Alexander Gilbert
New Haven Debentures Subscriptions Move Ahead
New Haven Conn January 13 Official statement shows the New York New Haven Hartford Railroad Company has received four thousand to five million dollars in advance subscriptions to the new issue of forty million dollars of 6 percent convertible debentures. Many subscribers opt to pay in full rather than the 25 percent minimum.
MENTIONED IN THIS ARTICLE
New Haven
Conn
New York
Ne Haven & Hartford Railroad
Compan
Cotton futures steady after sharp early advance in South
The Weather Bureau forecast for Tuesday and Wednesday shows fair weather across the cotton states with varying winds and warmth. Cotton prices closed steady with a net gain of 8 points. day sales about 200,000 bales amid firm interior markets and concerns over warehouse bankruptcy proceedings affecting supplies in the western belt.
MENTIONED IN THIS ARTICLE
New York Times
Washington
Federal Weather Bureau
North Carolina
South Carolina
Georgia
Alabama
Mississippi
Florida
Louisiana
Texas
Oklahoma
Arkansas
Tennessee
Stock Exchange
Trading in Baltimore bonds and scrip lead market gains
United Railways in come bonds led the session with a 2 point rise. The Fading 5s scrip advanced 14 points, while Virginia Century 3s and the new 4s climbed 2 points. Western Maryland Railroad and Houston Oil showed fractional gains. Northern Central Railway remained strong. Totals: Shares 475, Bonds $53 000.
MENTIONED IN THIS ARTICLE
Baltimore
United Railways
Virginia Century
Western Maryland Railroad
Houston
Northern Central Railway
West Ways
Anacosta & Pri Asem
United Ry. Inc Pee Eeee Tilala
United Ry
Fdg
Consol. Gas
BR. S
Virginia Brew
Northern Central
Southern Pacific
West
Maryland
Houston Oil
N. Y
Grain and Provisions Wheat and Corn Markets Slide
Wheat activity was light with Western markets cut off by wire service. Liverpool showed a 43d net advance while Paris Berlin and Budapest fell. Cash wheat in New York closed at No 2 red 1.0613 elevator and 1.08 afloat. Corn opened easier on big receipts with a late rally. No 2 corn nominal in New York and visible supply rose 289000 bushels.
MENTIONED IN THIS ARTICLE
Chicago
New York
Liverpool
Paris
Berlin
Budapest
Seaboard
Duluth
Southern Pacific bids for surrender of bonds in 1908
Southern Pacific Railroad Company invites bids for the surrender of its First Refunding Mortgage Gold Bonds. The notice states $12 000 from 1907 net income in trust to redeem bonds, with bids due January 23 1908 at 12 o'clock noon at 120 Broadway New York.
MENTIONED IN THIS ARTICLE
Pike’s Peak Hydro-Electric Company
Continental Trust Company
City of
New York
THE
NEW York Trust Company
F. ‘J. Horne
Equitable Trust Company
Broadway
Southern Pacific Railroad Company
NEW York Central and
Hudson River Railroad Company
Lake Shore and Michigan Southern Railway Company
Michigan Central Railroad Company
Cleveland, Cincinnati, Chicago and ST. Louis RY Company
Chicago, Indiana and Southern Railroad Company
Supreme Court of
State of New York
County Court House
County of New York
City of New York
Charles H. Treax
Excelsior Fire Insurance Company
P. B. Armstrong
J. Ripkens
Stanley
E. Gunnison
George G. Ball
JOHN_ &. JENKINS
Wilson Roprwe
C. L.armstrong
E. Howard Foster
Excelsior Fire Insurance Company of
Simit
William Street
Manhattan
von Schaick & Brice
J. Campbell Thompson
Wall Street
Moon
Sid Corporation
New York Times
Law Journal
Fort Caf Ese
Supreme Court
Plan to dissolve KNICKERBOCKER Trust in going-concern recovery
Depositors are urged to assent to a plan backing a going-concern revival over liquidation via receivership. The proposal cites maintaining asset value, securing new business, and a $2,400,000 stockholder fund, with three trustees to run the board, aiming to shorten repayment timelines and preserve earning power for depositors.
MENTIONED IN THIS ARTICLE
Tors
Henry C. Frick
Myron T. Herrick
Lewis C. ‘Ledyard
Also Mentioned on This Page
Germany
Western Ice Forces
Maclay &Co
Toquit
Stock Exchange House
Knickerbocker Trust
Hamilton Bank Stock
Financial Notes
Farmers’ Loan and Trust Company
Fifth Avenue
Bishopsgate St
Rue de Richelieu
WM. G. Gallagher
Nevada
Utah Mines & Smelters
Foreign Public Securities
Ask Seeeentes Ents
Weeseesees
Wessian
Saxony
Hamburg
City of Frankfort-on-Main
Consol
York
Lon- Y. N.Y
Don. Haute
Anaconda
Lem Atchison
Can Pacift
Ce Paul Istee
Nea Sane
Erie
Nash
Louis Central
Pennsylvania
Reading
South Pacific
Union Pacific
Steel Tees
T . Bteel
Colorado
Sprecia
San. Francis
Alpha Con
Hale & Norcross
Andes
Belcher
olJustice
Best & Beler
Occidental
Caledonia
Op Steer
Potest
Savage
Pelcher
Fn & Va
Sierra Nevada
Union
Imperial
Utah Convesseeee
Crown Point Gould & Curry
Telegraph
Tonopah
Goldfield C. M
Belmont
Kendall
jJim_ Bu
Golden
Red Hills
Colorado Springs
Midway
Montana
St. Ives
Peewee
West End
Goldfield
Adams
Portland
Atlanta
Findlay
Beens
McKinney
Dante
el Paso
Homestake King
Isabella
Daisy
Dee
Montgomery Mtn
Sinton” Voice
Vindicator
Diamondfield
Fulton Trust Co
Nassau ST
I Y CG
Swords
Henry
H. Cammanniedota
W. Reighley
Sec’s
Cotton States
Eees Es
Eeees
Sune Kg
Areca Ba
Toca
Gulf
Savannah
Norfolk
Augusta
Galveston
New Orleans
Grain and Provisions
Andrew J. McCormack
Adrian H. Muller
Fs Son
William] ST
Exchange
Vesey Street
Northern Central Ry. Co
Pittsburgh & Western Ry. Co
P. c
German Exchange Bank
Junction & Union Stock Yard
New Jersey
Selaphone Co
Bulls
Ilu
N.Y
P. Ec
Western Union Coli. Trust
Missouri, Kansas & Eastern R. R
Buffalo City Gas Co
Edison Electric 11. Co
Rome, Watertown & Ogdensburg
R. R
Brunswick & Western RK. R
People’s Gas Co
Ind. & Western R. R
Atchison, Topeka & Santa Fe R. R
Richmond & Mecklenburg R. R
Central R. R
New Jersey Court
Wabas
Farmers’ Loan & Trust Co
Germania Insurante Co
Fidelity Trust Co
Omaha Water Co
National Realty Co. Common
New York Harbor Real Estate Co
Bank of America
Hanover National Bank
Buffalo & Susquehanna R
Brooklyn City
Chicago, Peoria & &J. Louis R. R
P. c. Prior Lion
Silver Burdett & Co
M. M. Ostrander
Erie Railroad
Buffalo & So
Western
Mexico
People’s Trust Co
United Wireless Telegraph Co
Ctis
Empire Trust Co
Mercantile Natl. Bank
Buffalo
Southern Ry
O. Common
Union Pacific R. R
United States Steel Corp
Delaware & Lackawanna Steel Co
Sts. Railway Co
Suffolk Gas Co
Southern Pacific Railroad Co
Southern Pacific Railroad
J. L. Willcutt
New York City
Clark Williams
New York State
Columbia Trust Company
Bay State Gas
J. Thomas Reinhardt
Broad St
Mass
TIMES
Adv
New York Central Lines Equipment Trust
Guaranty Trust Company
J. P. Morgan & CO
Drexel & CO
Grover Cleveland
Committee
Aepany
Vssible
Herbert I. Satterlee
Julien T. Davies
James Russell Soley
Hinsdill Parsons
Knickerbocker Trust Company Depositors’ Committee
Frederick G. Bourne
Bay State
F. Elsenberg
Prince
Washington Trust Company
Pawal Tel Bloc
Urooduay
Lawyers Title Insurance & Trust Company
ALL Trust CO
Than. A. TE Calep
Electric’ Bond
H.M. Francis
Union Dime Savings Institution
6Th Avenue
Greeley Square
Charles E. Sprague
Francis M. Laake
William Gross
Greenwich Savings Bank
U. K. Cor
James Quinlan
Charles M. Dutcher
Treas J
American Sponge
Chas. Rosenbaum
NL Y
Copartnership Notices
Salyintuto Horn and Tubing Company
Thtt
International Auto Horn Manufacturing Company
Salvini
International Company
Concsn
Liotlaschield
A. Casazza
Max HU. Sporriha
G. Barunelui
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