Transfer Books Closure notice at Amalgamated Copper Co
The Transfer Books closed on May 7 1901 for the Annual Meeting will remain closed until June 20 1901 at 10 A M. By order of Board of Directors William G Rockefeller Secretary.
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Newspaper
New York Times
Location
New York, New York, United States of America
Date
Jun 16, 1901
Page
12
The Transfer Books closed on May 7 1901 for the Annual Meeting will remain closed until June 20 1901 at 10 A M. By order of Board of Directors William G Rockefeller Secretary.
J Stanley Scott named Assistant Secretary in Travelers Life. Hamburg Bremen Insurance withdraws from Florida. J H Lenahan elected Chairman of Western Union fire underwriters to fill Corran vacancy. Springfield Fire and Marine Insurance raises capital from 1.5 to 2 million by using surplus 500k. net surplus January 1 reported at 1,819,143. Debate over a rating compact for unrated parts of New Jersey resumes as New York Fire Insurance Exchange faces growing need.
New Hampshire Insurance Commissioner Linehan reports no paid in capital or cash assets for the Kearsarge Fire Insurance Company after inquiries in New York. He notes premiums from policies exist but there is no record of how those funds were used or if capital was ever paid. The charter is being challenged for annulment.
A series of new companies are organized with capitals ranging from 6 000 to 100 000. Watkins Consolidated Electric and Gas Light Company lists A R Horn J J McKee and Charles B Reid as directors. Security Refrigerator Company names L F Kunz T D Raubut and T H Wilson. Arthur H Wiener Co to manufacture skirts and cloaks with A H Wiener Hattie L Wiener and Paul Frankel as directors. Coliseum Cycle Track Association and Cuba Land Company are also formed with listed directors. The S Clinton Sherwood Company and Spencer Electrical Company appear among the new incorporations.
On June 15 in Wilmington Delaware the following charters were secured at Dover. Pacific Iron and Steel of New York to manufacture iron with capital 30 000. Canateaty of Columbus Ohio to make salves drugs and medicines with capital 000. The Sedative Manufacturing Company of Philadelphia capital. The American Workingman's Protective Association of Michigan capital 100 000. The Davis Real Estate Company of New York capital 50 000. The Pacific Iron and Steel Company of New York capital 30 000.
The stock market gained as the Agriculture Department crop report projected U S wheat 650 to 700 million bushels and favorable foreign crops. London and US buyers pushed prices higher while Wall Street adjusted to the news. Bank of England rate cuts eased international money tensions and spurred American speculation focused on equities, rails, and industrials led by United States Steel.
Investment conditions remain unchanged as steady absorption of bonds and gilt edged stocks supports prices yielding the minimum 3 to 4 percent. High grade securities hold at this fixed level while less tested dividend paying issues trend toward the same level, barring a violent money value upheaval.
A Saturday market wrap notes strong stock gains led by Colorado Fuel up near 133 and Tennessee Coal as unions, railroads, and steel trusts signal consolidation. Bond activity shows advances and declines with Can South 2d and Union Pac concessions. London activity little changed amid larger market optimism.
A bank statement issued yesterday reports a large rise in loans by 13,344,800 and a reserve decrease of 4,559,375. Specie fell 1,876,300 while legal tenders rose 335,800 and deposits increased 12,075,500. The overall figures reflect stock-driven loan growth and higher reserve requirements tied to deposits. The week’s market strength, led by St. Paul, followed the statement publication.
Yesterday advancing prices led by St Paul crossed 181 and settled near 180 in heavy volume of 89000 shares. The market strength followed recent gains and fueled talk of a lasting community of interest among Union Pacific St Paul and Northwestern roads with Union Pacific potentially gaining control of St Paul stock.
Prominent financiers express strong faith in rising prices driven by good crop prospects strong railroad earnings expanding bank clearings and abundant capital. Experts note foreign rates and government reports support a bullish outlook with ongoing demand and strategic holdings limiting a sudden downturn.
Hugh Murray notes a West Coast money infusion into the market, with several large Stock Exchange houses borrowing millions on time at rates below New York, as traders report stronger collateral and a more active stock outlook amid a widespread demand for funds.
Money on call 3 percent. Time money 3 percent for thirty to sixty days. 3 percent for ninety days to four months and 4 percent for longer periods. Mercantile paper 4 percent for short term.
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