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Newspaper
New York Times
Location
New York, New York, United States of America
Date
Jun 01, 1907
Page
11
After a holiday break, New Orleans and Liverpool markets lagged as brokers faced a 30 to 50 point surge. Rumors of weather damage and heavy buying pushed totals to about 1,000,000 bales with October near 12.44, December around 12.11, and January near 12.0, mirroring the old Sully boom.
The document shows closing quotations for government bonds and stocks with no trades. It lists numerous issues and prices including Panama, Long Island, Natl Enam, Pac Const, Pacific, Pullman, and various rail and utility securities with bids around 80 to 110 and notes on accrued interest.
Campaign for the Cotton Exchange Board of Managers tightens with the reform ticket losing two candidates during the holiday and the regular slate dropping a presidency nominee and three board hopefuls. Walter Miller and Stillman declined reform nominations, citing concerns over handicaps and respect for current management. Brokers expect the third ticket to prevail despite partial nominations.
Goldman, Sachs & Co. exported $500,000 in gold to Paris, part of a larger weekly movement possibly reaching $20,000,000 total. The shipments had little impact on local exchange rates, with analysts noting uncertainty about foreign market needs and supply capacity.
National banknotes received for redemption total 72 255 dollars. Government receipts from internal revenue 1 551 088 dollars, customs 1 327 085 dollars, miscellaneous 681 999 dollars. Expenditures amount to 1 879 000 dollars. Reserve funds show gold and bullion 815 000 000. Trust funds to redeem outstanding certificates 000. Deposits in National banks awaiting reimbursement. Current liabilities noted.
Imports of dry goods at New York Port valued at 2,709, N25 this week, compared to 3,523,354 last week and 2,576,703 a year ago. The market value stood at 2,563,788 this week, versus 3,258,958 last week and 2,389,761 in the corresponding week last year.
Subscriptions to the 10 million Rock Island refunding bonds at 4 percent were received by Speyer & Co. yesterday. The issue was offered for public subscription at 87, attracting many private investors of moderate means. Subscriptions were reported very satisfactory both locally and abroad.
At a meeting in Rochester on May 81, the Executive Committee of the Bondholders Protective Association, formed to protect United States Independent Telephone Company stockholders, passed a resolution favoring sale of the company’s properties to a syndicate that recently offered 6 000 dollars.
The annual meeting of the United States Steel Corporation Railroad known as the Clinois Iowa and Minnesota Railway Company, scheduled for Milwaukee today, is postponed to June 20. The company plans to consolidate with the Milwaukee and Rockford and other lines to create direct rail links between the Milwaukee plant of Illinois Steel and the new town of Gary Indiana.
Special to The New York Times reports multiple new companies authorized in Albany on May 31 with varied capitals from 10,000 to 190,000. Entities include Naughton Comy and Arthur McMullen News, Scenevuc ity Company in Brooklyn, Brook Securities Weekly Company, Lyth Tile Company, Plaster Block Company, and several others led by directors such as Bernard Norton D. F. McMahon, F. Burrelle, and H. E. Tupper.
At the adjourned annual meeting in Chicago six new directors were elected to fill vacancies and replace retiring leaders including W C Lane and L L Stanton of Standard Trust Company. Minority representatives Maclay Hoyne Clarence A Knight and W W Miller were chosen to protect minority interests in the reorganization. The Baltimore & Ohio loan sale case looms as minority stockholders plan to oppose fore closure unless lease validity is tested.
Trade reports from leading weeklies show unseasonable May weather depressing retail activity and slowing collections. Grain country areas note better conditions while cotton and iron coal wage tensions rise. eastern cotton mills report wage advances for 80,000 workers as strikes and union action grow.
Sealed bids and exams announced by New York City departments for schools and parks. Notices cover high school entrance exams for girls thirteen and older, paving work in Kings Park Queens, and removal work on Sands and Washington Streets Brooklyn. Officials Moses Herrman Joseph Berry and Michael Kennedy oversee bids and awards.
The Bronx Board of Assessors lodges proposed assessments for multiple sewer, paving, curb, and fencing projects across Grand Boulevard Concourse West One Hundred and Eighty third to One Hundred and Eighty ninth Streets, Anderson Avenue, Cameron Place, Cypress Avenue, Fox Street, Edgewater Road, Lafontaine Avenue, East 162nd Street, Webster Avenue, Wendover Avenue, Beck Street, Kelly Street, Syren, Parkside Place, and related approaches. Objections must be filed by July 7, 1907 with the Secretary at 320 Broadway NYC.
Public notice lists sewer projects on Butler Street Lincoln Road Franklin Avenue and Sixty-fifth Street plus paving and sidewalk work on Beverley Johnson and East Twenty-fifth Streets. Property owners affected urged to file objections by July 9 1907 with assessors. George Helman and others sign. Metropolitan audit district.
City of New York invites sealed proposals to construct sub surface rapid transit railroad on Delancey Street extension from Broome Street to Bowery with four tracks and Bowery station. Bids due June 13 2007 at 12 noon. bonds and affidavits required. project completion within twenty months. site inspections advised.
The Board of Rapid Transit invites bids for constructing the Pearl Street to Park Row segment in Manhattan and related Centre Street tunnels. The work includes an underground station, rail tracks, pipe galleries, and sewer and street reconstruction with a twenty month completion target. Bid details require certified funds, bond or securities, and strict disclosure of principals and sureties.
The City of New York invites bids from up to 70 contractors to construct a sub surface railroad section on Delancey Street including tunnels four crossovers and turnouts. Work includes pipe galleries and street reconstructions with a twenty month completion goal and a bond of 180000 dollars. Proposals due June 13 1907 at the Board of Aldermen office 320 Broadway Manhattan.
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