This is just the beginning! Our collection holds over 300 years of history, including rare newspapers, obituaries, marriage records, birth records, and so much more—most of which you won’t find anywhere else!
This newspaper page contains 26 articles. Subscribers can read the full text of each article.
Newspaper
New York Times
Location
New York, New York, United States of America
Date
Jun 12, 1908
Page
11
A veteran banker predicts a very quiet summer with little major movement in stocks. He cites election uncertainty, political sentiment, crop prospects, and vacation slows as factors dampening activity. brokers report subdued trading and a shift toward conservative positions, with some interest in bonds like Union Pacific.
National Copper Bank in New York, led by President Charles H. Sabin, joined the Clearing House Association yesterday. The institution, formed just over a year ago, has grown to handle more than 7,000 in deposits and brings total membership to forty nine.
A New York clearinghouse backed plan proposes annual audits by chartered accountants of mercantile notes sold to banks. It calls for registration of notes, daily intercity reporting, and strict limits on unregistered paper to reduce losses. Officials include Robert A. Parker of Market and Filton Bank and Joseph T. Talbert of Commercial National Bank of Chicago.
The National Monetary Commission and Senate Finance Committee met in executive session at the Hotel Plaza to map investigations under the currency bill. Three sub committees were formed to study tariff revisions, customs administration, and cost of production comparisons with foreign countries. The group, including Aldrich, Allison, Burrows, Hale, and others, will reconvene in the summer with aims to avoid public disclosure until today.
A Times advertisement error misstated the railroad's total bonded debt as 45 million 485 thousand dollars. The correct figure is 15 million 480 thousand dollars. N W W Harris and Bond and Goodwin offer 1 million dollars of 4 per cent guaranteed twenty five year gold bonds at 99.
William R. Craig and Rae H. Rogers won stock exchange membership. Hugh M. Neely joined the Cotton Exchange. James Gayley plans a Europe voyage for steel process work. Bonbright returns from Europe. North Butte Extension Mining attached for 5000 dollars. Tennessee Coal and Iron payments underway totaling 3.75 million dollars. Most new stock swapped for United States Steel bonds. Republic Iron and Steel Board meeting postponed to June 18. George N. Hartmann named secretary of Metropolitan Trust. Jacob C. Klinck named First Vice President of Williamsburg Trust. Bonds certified or prepared by Columbia Trust Company for multiple towns including Atlantic City and Nicholls.
London shows easy money and firmer discounts as profit taking tempers gains. American securities remain dull on Wall Street but gain modestly after New York advices. copper shares rise with metal prices. Paris and Berlin report firm tones with higher American securities and steady discount rates.
The Bank of England reports a total reserve drop of £62,000 with circulation down £142,000 and bullion reduced by £204,568. Other securities and deposits rose, public deposits up £387,000, notes reserve down £102,000, and government securities unchanged. Reserve ratio sits at 50.65 percent, down from 50.82 percent.
Paris on June 11 reports the Bank of France notes in circulation fell 160.35 million francs while treasury deposits drop 9.8 million. General deposits rise 3.35 million and gold on hand grows 32.55 million. Silver increases 675 thousand, bills discounted drop 988.75 million, and advances rise 1.775 million.
Budapest reports the Hungarian Government has reached a deal with the Hungarian Credit Bank and a Rothschild syndicate for a $50,000,000 issue of 4 per cent rentes. The syndicate will take $12,800,000 of the issue with a margin on another $12,800,000 at the offered price.
Quotations for American mining shares were reported in London yesterday with figures for several companies and the market showing varied movements. Specific stocks and price changes were listed for investors monitoring cross border mining activity.
After a directors meeting the Erie Railroad Co plans to fund interest coupons maturing before July 1 1999 by purchasing them under the collateral indenture for the recent three year notes. The move would free earnings for other uses and may extend to funding coupons on general lien bonds to support long term improvements. For year ending June 30 1907 the company showed a surplus over charges and aims to strengthen security for bonds. E H Marshman aided by purchasing 5 million dollars of notes and promoting the funding effort.
News from Cumberland Maryland reports George J. Gould was elected to the railroad’s board at the annual stockholders meeting, succeeding W W Dewaldridge. Other directors listed include E G Jeffery B F Bush W H Taylor Lawrence Greer H D Henson and B A Richmond.
The Coal and Iron National Bank yesterday declared a quarterly dividend of 2 percent, moving its stock to a 16 percent basis. The bank, organized a little over four years ago, had previously paid 6 percent. It earned about 25 percent on capital last year, with $500,000 capital, $500,000 surplus including $80,000 earned, and about $200,000 undivided profits.
Kuhn Loch and Co announced subscriptions to the Union Pacific first mortgage 4 per cent refunding bonds will close today to speed allotments for bona fide applicants. Subscriptions were said to be heavily oversubscribed with London reports noting two to three times oversubscription. Local curb offerings dipped to 95 from an earlier 97 as the issue neared closure. The same bank plans Delaware and Hudson first mortgage bonds once the Public Service Commission authorizes.
An official Steel Corporation denial from its offices rejects reports of dissension over price reductions. It states President Corey did not favor price cuts and would have agreed with associates if present. Chairman Gary has no intention of resuming legal work, and all officers and subsidiaries are described as harmonious. George W. Perkins calls the Pittsburg claim absurd.
June 11 official stock quotations reported for New York Times markets. Price movements for multiple mining shares noted with gains and losses, reflecting daily trading activity.
The report lists bid and asked quotations for a wide range of government bonds and equities with many items showing no transactions. Notable entries include Liberty bonds and industrials with prices around par plus small premiums, while several issues show midrange bids and asks.
Chairman Willcox reported to the Public Service Commission on Manhattan Railway Company plans to issue 10.5 million dollars in 6 percent bonds to retire an equal amount of Metropolitan Elevated Company bonds due July 1. An additional 0.894 million would refund track-extension obligations from Tremont to Bronx Park. The commission approved the report, with final order pending at today’s meeting.
Disappointment by Du Pont de Nemours Powder Company stockholders follows the New York Stock Exchange decision to defer listing of the firm’s $25,000,000 6 per cent preferred and $30,000,000 common stock. Officials say the extensive subsidiary network and lengthy papers require review, deferring until September. no shares have ever been listed.
Judge Dowling names Leo Schlesinger as receiver for Robert Maclay & Co. stock brokers at 71 Broadway after their Jan 13 suspension following a judgment of $100,843 to Italian-American Trust Co. The creditor reports Weekes has $1,324 at Knickerbocker Trust. R. Rodgers & Co. holds collateral worth assets including bonds and various stock certificates. Sheriff reports an $89,805 execution against Edward R. Thomas with no property listed.
Dock plans would lengthen the docks between Twenty-sixth and Thirty-eighth Streets in South Brooklyn by 280 feet each. The shortest would rise from 9438 to 12u3 feet, the longest from 1501 to 1831 feet, creating the world’s longest dock system. dredging costs are expected to be the main expense.
The Cleveland and Marietta Ry Co treasurer announces sealed proposals to purchase first mortgage bonds for the sinking fund. Bonds totaling 12 500 dollars will be bought July 1 1905 from the lowest bidders at or below par plus interest. Proposals must be received by The Farmers' Loan and Trust Company in New York City before 3 PM Tuesday June 30 1908.
Erie Railroad Company announces it will purchase coupons due July 1 1908 at par in cash to raise funds amid reduced earnings and pending improvements. J P Morgan & Co will handle purchases at their No 23 Wall Street office through June 30 1908.
New York June 11 1908 Frise Railroad and J P Morgan Co plan to extend by July 1 1918 the 1 500 000 First Mortgage Bonds and 1 000 000 Bond issues on the Buffalo & Southwestern Railroad Erie Division. Interest at 5 percent on gold payments. Holders may deposit by June 30 1908 to extend with 25 per bond cash option. Morgan Co to repurchase non extending bonds at par after maturity.
Multiple notices declare dividends on stock held by American Snuff Coin and Beaver National Bank stockholders with payment dates and record cutoffs. A liquidation committee announces railroad securities registrations for Illinois Central certificates with a mid June close and July reopening.
We want people to find what they are looking for at NewspaperArchive. We are confident that we have the newspapers that will increase the value of your family history or other historical research. With our 7-day free trial, you can view the documents you find for free.
People find the most success using advanced search. Try plugging in keywords, names, dates, and locations, and get matched with results from the entire collection of newspapers at NewspaperArchive!
You can also successfully find newspapers by these browse options. Explore our archives on your own!
Browse by location and discover newspapers from all across the world.
Browse by date and find publications for a specific day or era.
Browse old newspaper publications to find specific newspapers.