Clearing House mulls 25 percent reserve plan for trust firms
New reserve scheme at the Clearing House draws cautious reception from trust companies. Some have applied for membership while many resist 25 percent cash reserves, urging Albany legislation and possible 15 percent alternative. President Sheldon says the issue is not live and depends on state action.
MENTIONED IN THIS ARTICLE
Clearing House
Clearing House Association
van Norden Trust Company
van Norden
Sheldon
United States Trust Company
Albany
New York Incorporations List From Albany
Special to The New York Times reports a lengthy list of today’s incorporations in Albany with capitalizations ranging from 3,000 to 200,600 dollars. Directors named include Rose, Wobbe, Hirschberg, Moore, Hall, and Brush among many others across New York City Gloversville Jersey City Brooklyn Buffalo and Westchester Mount Vernon and surrounding counties. Several firms cover tobacco hats fur hats real estate building materials seafood and other trades while others include land companies and a pharmacist concern. One dissolution noted is George M. Saddler Company at 22 West Twenty Second Street New York.
MENTIONED IN THIS ARTICLE
New York Times
Albany
Rose & Wobbe
New York
Tobacco
Capital
Menko Rose
West 119Th Street
Carl W.wobbe
West Twenty-first Street
William Fox
West 118Th Street
Irschberg & Co
Edward F. Hall
East Twelfth Street
Harold 2D. Watson
Decatur Street
Brooklyn
Frederick MM. Livingston
West Forty-ninth Street
Brush Brothers
Buffalo
Frin County
William HH. Brush
Warren N. Brush
Stephen’c. Brush
N. Y
New York and
Texas
van Buren Street
Bertram Longbotham
Westminster, Road
Twin Lakes Land Company
Mount Vernon
Westchester County
J. Mortimer Bell
South First Avenue
William S. Anderson
West Second Street
William J. Shaw
Union Avenue
Hide
Syracuse
Onondaga County
Irving A. Hodge
Lawrence B. Fitch
K. M. Helfrich
Rochester
Monroe County
Haas Brothers Ladies’ Tailoring Company
Samuel Maas
East Party
Seventh Street
Pasquale de Palma
Seventieth Street
John Henry Gent
Ridgefield Park
European Markets Receive Mixed Tone Across Capitals
London reports plentiful money and quiet demand with easier carry-over rates for Americans. Paris opens irregular but closes firm with three percent rentes. Berlin notes unsteady Boersa, Americans showing upward tendency, while U S Steel and railroad shares attract attention amid mixed New York signals. Kaffirs and diamonds firm as money holds at four percent.
MENTIONED IN THIS ARTICLE
London
Stock Exchange
Paris
Union Pacific
Atchison, Topeka & Santa Fé
United States Steel
Adyvices
New York
Copper stocks rally as Calumet & Hecla leads gains
In early trading on January 14, copper shares firmed across the board. Calumet & Hecla rose to 675, Amalga mingled above 53, and Calumet & Arizona moved to 10916 as Centenial and Copper Range also advanced. North Butte hit 47 percent, Osceola traded up to 90 before the dividend, then 87 after.
MENTIONED IN THIS ARTICLE
Boston
Calumet & Hecla
Amalgamated
Calumet & Arizona
Centennial
Quincy
North Butte
Osceola
M. Tell Tel
Brookly
Vt. Ist
B & Q Joint
Dominion Coal
Ikoston Elevated
Boston & Albany
Roston & Lowell
Boston & Maine
Aleee J& Fe
Vitchburg Pf
A&i
Olony
Talan Psicific
West
Wee Deeg
tAdventure
Ama Sana Ted Cesses
BIG
Arcadian
Arizona Com
Ogae
Balaklala Temp
Bingham
I Daly
Lawsuit Seeks Accounting Over Chicago & Alton Merger
William Starr Miller of Chicago, longtime stockholder, sues in the U S Circuit Court against the Chicago & Alton Railroad and the reorganized company for an accounting and an injunction to stop dividend appropriation without paying minority holders. He says 600 shares he owns were not exchanged in the merger and that past dividends were mishandled.
MENTIONED IN THIS ARTICLE
William Starr Miller
Chicago
Chicago & Alton
United States Circuit
Chicago & Alton Railroad
Chicago & Alton Railroad Company
Harriman
Chicago & Alton Railway Company
Alton
Harriman-Stillman-Schiff- Gould
Inter-State Commerce Commission
Harriman Lines
Miller
St. Louis, Peoria & Northern
Alton Railway
Rock Island
Clover Leaf
Philbin, Beekman & Menken
Talks On Steel Wages Cut By E H Gary
E H Gary chairman of United States Steel says a 10 percent wage cut may have occurred but he has not been informed definitively. He notes reductions in the mining district but sees no reason to infer a company wide cut or link between miners' wages and other employees.
MENTIONED IN THIS ARTICLE
E. H. Gary
United States Steel Corporation
Pittsburg
Steel Corporation
Gary
Cotton Market Rebounds After Early Weakness
The cotton market closed steady with a net advance of 9 13 points after a sharp rally from early weakness. Sales were about 225 060 bales as Liverpool reports of weaker labor in Lancashire and warehouse concerns in the Western belt weighed on prices, then spurred by light receipts and bullish Southern spot news.
MENTIONED IN THIS ARTICLE
Liverpool
Lancashire
Lawson gains control as Balaklala Copper reorganizes in Maine
In Ortland Maine January 14 at the Balaklala Copper Company's annual meeting William O Werr L H Starkey Judd Schuart N A Egbert and John Timmons of New York elected as directors. Lawson takes control of the reorganized company named First National Vereet Company stock unlocks at 250 per share payable in four installments with M T Raborg and Robert Leslie Moffett among key figures. 525000 shares outstanding 408804 represented by proxy and 9431 personally.
MENTIONED IN THIS ARTICLE
New York Times
Ortland
Maine
William, O. Werr
L. H. Starkey
Judd Schuart
N. A. Egbert
John Timmons
New York
Balaklala Copper Company
Thomas W. Lawson
Naenal Vereet Company
Bank President Reports 245000 Losses Wiped Off
O. Allison current president of Consolidated National Bank states in a stockholder circular that losses from old management totaling 245000 have been charged off. Deposits declined, but the bank remains in a sound condition barring a new 100000 needed, amid an extreme panic. The bank declares a 3 percent semiannual dividend.
MENTIONED IN THIS ARTICLE
O. Allison
Consolidated National Bank
O. F. Thomas
Osceola Consolidated Mining declares no new dividend
Osceola Osceola Consolidated Mining Company directors pass the semi annual dividend but withhold a new payout. Secretary explains 1907 net earnings were insufficient to justify a dividend and surplus earnings from prior years are not to be used for distribution.
MENTIONED IN THIS ARTICLE
Mining Company
Oston
Osceola Consolidated Mining Company
Directors defer dividends across multiple firms
The United States Cast Iron Pipe and Foundry Company postponed action on its 1 percent quarterly common dividend while declaring the regular 1 percent on preferred stock. Consolidated Car Heating Company deferred its semiannual dividend due February 15, noting earnings and awaiting business outcomes. Osceola Consolidated Mining Company directors approved no dividend this time after July last payment of seven dollars per share.
MENTIONED IN THIS ARTICLE
United States Cast Iron Pipe and Foundry Company
Consolidated Car Heating Company
Albany
Osceola Consolidated Mining Company
Stokes Opposes Attacks on Capital and Railroads
New Jersey Governor Edward C. Stokes urges legislators to adopt a conservative policy toward corporations. He argues for equal protection of capital and public interests, warns against hasty laws that disrupt business, and promotes private capital with strengthened incentives and a general municipal charter.
MENTIONED IN THIS ARTICLE
New York Times
Trenton
Edward C. Stokes
New Jersey
Governor outlines reforms and fiscal caution in annual message
The governor argues taxation of public utilities should continue but calls for strict economy as the state treasury sits at $500,000. He endorses main stem and second class railroad taxes, favors State Board consolidation, civil service reform, Grand Jury changes, election reform, and a 15 percent reserve on liabilities. He ends with praise for his successor.
MENTIONED IN THIS ARTICLE
Trenton
Utah Copper plans large stock and bond issue
Utah Copper Company proposes increasing capital stock from 36 600 000 to 7 500 000 and issuing 1 500 000 in convertible bonds secured by a second mortgage. Bonds bear 6 percent and will be offered pro rata if approved at a Jan 24 stockholders meeting. Convertible at 26 a share. underwritten. unused stock to stay in treasury.
MENTIONED IN THIS ARTICLE
Utah Copper Company
Nevada-Utah
Boston Brokerage Firm Dane Smith & Co Suspends
The Boston Stock Exchange members Dane Smith & Co. suspended operations at 2 45 P M on State Street. Founders Chester Dane and Dexter M Smith run the firm. Officials say the failure stems from a market unfavorable to some transactions and is not seen as serious among local brokers.
MENTIONED IN THIS ARTICLE
Boston
Dane, Smith & Co
Boston Stock Exchange
State Street
Chester Dane
Dexter M. Smith
Boston Bank Day Consolidates Local Institutions
In Boston on January 14 the annual meeting of 25 local banks showed few management changes. The annual count notes one merger as Freeman's National Bank consolidates with National Bank of the Republic, reducing the number of National banks in the city.
MENTIONED IN THIS ARTICLE
Boston
Freeman's National Bank
National Bank of the Republic
Directors declare 10 percent semiannual dividend at Home Insurance
The Home Insurance Company announces a semiannual dividend of 10 percent. As of December 31 the surplus on a market value basis is 6,703,211 and the surplus for policyholders is 19,203,211.
MENTIONED IN THIS ARTICLE
Home Insurance Company
Plan for reopens Knickerbocker Trust approved by bank leaders
Leaders of Hanover National Merchants National Bank of the Manhattan Company National Bank of Commerce and American Exchange National say the plan for resumption of business at Knickerbocker Trust Company has their full confidence and support. They announced yesterday that they have no doubt of the plan's wisdom.
MENTIONED IN THIS ARTICLE
Knickerbocker Trust Company
Woodward
Hanover National
Galloway
Merchants’ National
Baker
Bank of the Manhattan Company
Snyder
National Bank of Commerce
Clarke
American Exchange National
Standard Oil Loans Spotlighted in Anti Trust Hearing
Testimony before Special Examiner Ferriss focused on Standard Oil loans totaling 7.5 million dollars in 196, alleged to fund a secret buyer in Western Pennsylvania named Barnesdale. William G. Rockefeller Jr testified, saying some securities were sold to Pittsburg Trust Company and not shown on the books.
MENTIONED IN THIS ARTICLE
Ferriss
Standard Oil Company
Barnesdale
Western
Pennsylvania
Wiliam G. Rockefeller, Jr
Barnesvale
Frank B. Kellogg
Charles B. Morrison
Rockefeller
Mr. Kellogg
Archbold
Pittsburg Trust Company
Chesebrough
The
Standard of Company
Money on Call and Exchange Rates on the Stock Exchange
Money on call shows loans at 4 1 4 percent with most at 4 4 percent. Time money rates run 6 4 to 6 6 percent for various terms. Mercantile power rates quoted nominally at 6 7 percent. Clearing House exchanges total 334 934 000 with a balance of 19 176 842. Sterling and continental bills quoted with multiple regional and foreign exchange rates. Bank gains and losses noted versus prior week.
MENTIONED IN THIS ARTICLE
Stock Exchange
Mercantile Power
Clearing House
Ub- Treasury
Sterling Exchange
Continental
Frances
Reichsmarks
Guilders
New York
Boston
Chicago
St. Paul
St. Cuis
New Orleans
Bank
Francisco
Silver Quotations Show Mixed London and New York Rates
Bar silver was quoted in London at 23d per ounce and in New York at Gorge per ounce. Mexican dollars were 440.
MENTIONED IN THIS ARTICLE
London
New York
New Electric Battery by Newark Inventor Aims to Reform Power
Dr Otto Fritz Reinhold of Newark announces an aluminum wet storage battery that could revolutionize electricity use and motive power from cars to ocean ships. He claims a corrosion free service plate method and notes two large electrical firms have offered to buy the secret. He is 31 and from Wittenberg Germany. father manufactures electrical instruments at Magdeburg.
MENTIONED IN THIS ARTICLE
Otto Fritz Reinhold
Newark
Reinhold
Wittenberg
Germany
Magdeburg
Public plea to buy Nevada Utah stock triggers market boom
A century old prospectus reveals a promoter urged public investment in Nevada-Utah, claiming control aims and consolidations. He warned against buying on leaked signals, disclosed plans to become president of multiple firms, and called for cash purchases through major exchanges with proxies sent to him.
Also Mentioned on This Page
Rule
Knomo Candy Company
Philip Knorpp
Wintheap Street
Walter Garner
Sumpter Street
Francis J. Knorpp
Sterling Place
Brook
Robert Stead
St.Felix Street
Adam_Sinning
Glarendon Road
Ella L. Geary
Sixth Avenue
Montague Street
James D. Clifford
Tock & Company
Theodore Bock
Anna Bock
Baldwin
Nassau County
Fred Henzerling
Avenue A
Hudson Mail Order Company
Elias Monakad
West Eighteenth Street
Thomas N. Jones
West Forty-fourth Street
Justin S. Brewer
Roosevelt Avenue
Jersey City
Er F. Cornwell
Park Street
Montclair
George M. Sadller Company
West Twenty Second Street
Keck & Cauthers
Broadway
Berlin
Consol
Dsseevees
Seveesees
Barian
Cece
Eeess
Saxony Gornment
City of
Augsburg
Frankfort-on-Matin
New-York
Lon- Ney
Royex
Atchison
Can
Pacific
Erie
Lee Ou
Illinois Central
Louis
Nash
Tita
NY Central
Steen
Tex
Union Pacificie i
Steel
Boston Stock Market
the Treasury Balances
Washington
Sss
Tye
W. S. Miller
Gulf
Mobile
Seavannah
Ile
Charleston
Norfolk
Augusta
Steig
Galveston
Houston
San Francisco
Omhale
Roy Seard
Best & Belesher
lOphir Ry
Caledonia
Overman
Chollar Ste
Savage Confidence
Belcher
Cal & Va
Sierra Nevada
Imperial
Union
Crown Point
Gould & Curry
Telegraph
Tonopah Goldfield C. M
Belmont Ale
Kendall Atte Ene i
Jim Butler
Lone Star
Mohawk Extensi & OF McNamara
Red -Hill Midway
Montana Bagusens
Sandstorm
Tonopah
St. Ives
King of Eee
Montgomery Mtn Ay
Diamondfield Achat
Louisville & Nashville
Wheeling & Lake Erie
Esenee
Lawson
Balaklala
Raborg
Thomas
Consolidated National
Gov
Stokes
Jersey
Roosevelt
Geile
Indianapoli
Gov. Stokes
Utah
Financial. Financial
Standard Oil Loans
W. G. Rockefeller
Money and Exchange
Trinity Company
Bay State Gas Company
First National Copper Company
Nevada- Utah
Wall
State
Philadelphia
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