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 13, 1908
Page
11
Traders weigh a sharp market break led by Union Pacific as rumors swirl about railroad troubles and anti injunctions. Analysts note stop loss orders and political factors shaping a cautious, wavering market with mixed sentiment and possible post convention rallies.
Hudson Companies, holding firm for tunnels under the Hudson River, arranged 5 million dollars of one year 6 percent notes secured by 10 million in 4 percent bonds. The underwriting syndicate extended for one year, aiding completion of tubes from Church Street to the river and Jersey shore work to Pennsylvania Station.
Carrington and various brokers report changes in membership and office moves as New York and Chicago exchanges reorganize. Jerome J. Danzig expands operations at 11 Nassau Street with branch plans. New York Savings Bank declares a six month dividend. Manhattan Railway mortgage bonds are issued as 4 percent gold notes approved for public offering.
Stockholders of Mechanics and Traders Bank moving toward opening under deferred payment plan consider Edward M. Grout former NYC Controller for bank president. Grout, a major stockholder, has worked with Paul Grout and the Reorganization Committee as key figures in rehabilitation. The new board will largely consist of participants in the reorganization efforts.
Bradstreet notes mixed signals with wet cooler weather hampering Southwest and Northwest trade and crops while the East holds firmer conditions. Political conventions and crop uncertainty dampen distant orders. cotton goods show strength but building and lumber activity stay weak and collections lag. Dun's says activity is largely maintained with favorable retail conditions and rising fall preparations, despite floods in the Southwest. Freight cars and rail earnings decline. bank exchanges fall in New York and other cities.
The $20,000,000 offering of the $50,000,000 Union Pacific 4 per cent bonds was heavily oversubscribed and subscriptions were closed by Kuhn, Loeb & Co. at 10 o clock yesterday morning. Allotments will be announced early next week. Curb market prices fell to 95, about 1 4 point below the subscription price, after initial sales at 97 1 4 last week.
The Times reported that its financial advertising for January through May 1908 totaled 296,157 agate lines, 44,778 more than the next New York paper, a record volume among American papers both morning and evening, even after excluding questionable and fraudulent ads.
June 12 reports say money supply was ample and discounts firm in London. Stock Exchange activity remained active yet firm with a weak close as American share declines and Erie coupon fears weighed on prices. Union Pacific new bonds traded near subscription price while bar silver held around 2451/4 cents. Paris Bourse quiet with steady prices and slight gains in Berlin trading.
London market yesterday displayed mixed quotes for American mining stocks led by Camp Bird at 4 pounds 2 shillings, Esperanza 10 shillings, Tombo 1 pound 13 shillings, Dolores Sabletote 15 pounds 9 shillings, and Stratton's Ind 0 pounds 9 pence, as San Francisco later lists official closing quotations for June 12.
Justice Greenbaum denied a request to continue an injunction by Industrial General Trust Company and other bondholders holding 240,000 dollars of 6 percent gold debentures of Pacific Gas and Electric. The suit challenged a plan allowing exchange of 8,529,000 dollars of debentures for an equal amount of debenture mortgage bonds, claiming it violated the original debenture agreement.
Delaware and Hudson financing says a portion of the 4 percent bonds of the $50,000,000 authorized last spring will be offered to the public next week. Of the $50,000,000, only $20,000,000 will be issued now, per directors plans approved by the Fs Service Commission. Proceeds will retire $8,000,000 of notes due in August and refund floating debt from property extensions and improvements.
The Massachusetts House rejected a bill authorizing Berkshire Street Railway Company to purchase Bennington and North Adams Street Railroad stock. The measure aimed to legalize Berkshire’s control of street railway holdings, opposed under current law. Also noted: W L Stow sells Stock Exchange seat to Rae H Rogers amid repeated seat transfers following firm failures.
Stockholders of the International Trust Company of 209 Broadway approved a plan to transfer assets to the Brooklyn Bank to pay off obligations. Directors ratified the action with near unanimous votes.
The Fourth Avenue subway project in Brooklyn is halted by a Supreme Court injunction served at the Board of Estimate meeting. Mayor McClellan, Controller Metz, and officials clash over the city debt margin and fiscal ability to fund rapid transit work. The injunction, sought by ex Congressman Levy, targets contracts and is returnable next Thursday.
Rapid progress reported on the four tube tunnel project under the East River between Manhattan and Long Island City. Air pressure is being lowered in tubes 8 and 4 while concreting proceeds in both. all four tubes expected ready for track laying by autumn.
Stockholders in Jersey City adjourned meeting approved capitalization readjustment replacing old stock with new issue of 17.184 million dollars. Debentures of 4 percent will satisfy preferred dividends, 8 percent cash paid, exchange ratios 70 for 100 preferred and 25 for 100 common. Total old stock 37.6 million replaced. new issue size 17.184 million. 92 percent represented. votes favored by 204,246 shares to 1,250. Debentures held by 4 percent for 15 years. Small backed by proxies but withdrew some votes.
Diamond Match Company issues $2,000,000 gold notes to retire floating debt and fund additions and improvements. Notes are retireable at $500,000 annually on July 1 each year from 1909 through 1912, with the last redemption on July 1, 1912.
Cotton prices opened lower on good weather but ended fairly steady, with a net 4 to 6 point decline. New York movement data show substantial year over year drops in port receipts while Eastern belts remain favorable. local spot cotton held at 11.40 cents for middling upland and 11.65 for middling Gulf amid varied Southern markets.
Crop news from winter wheat regions was unfavorable with Manitoba estimates ranging to 5.7 million acres. Spring wheat states saw more rain. Wheat prices varied with European markets and U S supplies. Corn receipts remained strong east of the Mississippi as Liverpool futures moved. No. 2 corn in New York quoted at 71 to 76 cents in various terms.
The market opened dull with unchanged prices and a slight advance of points. Havre rose 15 francs early but closed unchanged. Hamburg moved modestly and finished near unchanged. Receipts totaled 14 000 bags, Jundiahy 9 000, Brazilian markets reported no price changes. Spot coffee bid 64.0 for Big No. 7. Market quotes show thin activity and flat closes across months with mixed futures.
Electric copper rose on the Metal Exchange while London spot copper fell 7s 6d from Thursday’s close. Futures slipped 6s 8d. Spot and futures prices for tin, lead, and spelter moved but varied. New York Metal Exchange closes showed bid and asked levels for copper and related metals with slight changes from the prior day.
In yesterday’s trading Erie Railroad announced funding for maturing interest on general and prior lien bonds inspiring declines in the first and second preferreds. The convertible bonds and general liens also weakened while railroad circles viewed cash flow gains as enabling future improvements. J P Morgen & Co bought the interest coupons exchanging for three year notes, part of a large recent issue. further arrangements are expected to cover other interest payments.
The Cotton Exchange members voted to close the exchange on Friday July 3 to obtain a three day Fourth of July holiday. The Coffee Exchange has circulated a petition urging the same action.
The Union Exchange Bank applies to the New York Clearing House Association for admission. Located at 125 Street the bank organized in 1903 with a capital of 750 000 seeks membe rship in the Clearing House system.
$13 600 000 bonds payable semi annually May 1 and November 1st with principal and interest in gold. Part of an authorized issue to $50,000,000 under an 1904 indenture to United States Trust Company of New York. Bonds are coupon or registered, in denominations of 1000, 5000, 10000 and 50000, exchangeable between coupon and registered forms.
The issuer announces the sale of bonds totaling 13 million dollars subject to prior sale and price changes at 9.13 percent yield plus accrued interest.
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.