Railroad Equipment Company Bonds Under Reorganization Agreement
The holders of a majority in amount of bonds and related securities formed a Reorganization Committee under an agreement dated May 11 1900. Holders are invited to deposit their securities with First National Bank of New York by June 30 1900 to receive negotiable certificates. Copies available at the bank and the committee’s office. Thomas Carmichael chairs the committee with William Nelson Cromwell and E W Clark Jr as counsel Sullivan Cromwell. T Wellman as secretary.
MENTIONED IN THIS ARTICLE
New York
United States
T “Greene Consolidated Copper Company
Robinson Bennett
Nassau Street
Borough of Manatten
New York City
Continental Trust Company
Toledo, St. Louis and Kansas City Railroad Company
Central Trust Company of New York
Wall Street
Frederic P. Olcott
William A. Read
Henry. Budge
J. Kennedy
Tod
City of
Central Trust Company of
City of New York
No. 30
Broad Street
Central Trust Company
Morton S. Paton
H. C. Armour
John C. Havemeyer
Richd. B. Hartshorne
Hocking Valley Railway Company
J. P. Morgan & Co
Canda Cattle Car Company
Hicks Stock Car Company
Consolidated Cattle Car Company
First National Bank of the
First National Bank
Pine Street
Thomas Carmichael
William Nelson Cromwell
E. W. Clark, Jr
Sullivan & Cromwell
T. C. Wellman
Wheat Market Rises in Chicago on Drought Outlook
Chicago June 16 wheat market was broad excited and strong as reports of drought in Minnesota and North Dakota weighed on traders. July opened 1 cent over yesterday at 75 to 74% cents, then fell to 74% on selling before rebounding to 75% as demand surged. Local receipts 72 cars with Minneapolis and Duluth reporting 451 cars compared with last week and year.
MENTIONED IN THIS ARTICLE
Chicago
Minnesota
North Dakota
Minneapolis
Duluth
oYe
State Bankers Meeting Opens at Saratoga with Tours
The New York State Bankers Association holds its annual convention at Saratoga starting Friday July 13 with morning and afternoon business sessions. A special train takes delegates to the Saratoga Monument, battlefield, and a Grand Union ballroom reception. July 14 includes trips to Caldwell and Lake George, a steamer to Bolton, Sagamore Hotel luncheon, officers elected, lake sail to Sabbath Day Point, then return to Saratoga by rail.
MENTIONED IN THIS ARTICLE
New York State Bankers’ Association
Saratoga
Saratoga Monument
Grand Union
Caldwell
Lake George
Bolton
Sagamore Hotel
Sabbath Day Point
New Street Cleaner Proposed For City Departments
The Department of Street Cleaning tested a combined street sweeper wagon and sprinkler. Commissioner Nagle has not yet decided on adoption, but reports from officials are favorable. The machine resembles a wagon with a revolving broom, an endless web elevator, and a dust proof enclosure. It sprinkles water to reduce dust and can handle two cubic yards of refuse, performing in slush or dry conditions.
MENTIONED IN THIS ARTICLE
Department of Street Cleaning
Nagle
Yates Electric Light and Power Company Incorporation
The Yates Electric Light and Power Company of Yates County, with capital of 300000 dollars, was incorporated today by the Secretary of State. It will supply electricity for light heat and power to Penn Yan village and the towns of Jerusalem Milo and Benton. Directors include Henry B. Pierce Walter Cox Henry T. Howell Frederick P. Delafield Frederick W. Longfellow and Cassius L. Haskell.
MENTIONED IN THIS ARTICLE
Albany
Yates Electric Light and Power Company
Yates County
Penn Yan
Jerusalem
Milo
Benton
Henry_B._ Pierce
Walter Cox
Henry T. Howell
Frederick P. Delafield
Frederick W. Longfellow
New York City
Cassius L. Haskell
West New Brighton
Fire damages Newark feather factory worth 30000
A blaze at the hot feather factory at the corner of New Jersey Railroad Avenue and Mechanic Street in Newark caused 30000 in damage. The bookkeeper found the fire in the fourth floor pickers room and escaped with all other workers having left earlier. Firemen raised a second alarm and gained control quickly.
MENTIONED IN THIS ARTICLE
Newark
N. J
New Jersey Railroad Avenue
Mechanic Street
Crop damage rumors shadow Wall Street as market narrows
Damaged crop reports from the West prompt cautious Wall Street scrutiny. Traders abroad and on vacation limit activity while authoritative rail officials warn of slower earnings and possible traffic declines. Despite this, no serious market disturbance is evident as money rates edge higher and concerns over China stay mild.
MENTIONED IN THIS ARTICLE
Wall Street
Northern Pacific Stock Dividend Hint Signals Cautious Finance
The Board of Directors reveals a cut in the six month dividend, dropping from the prior 1 percent regular plus 1 percent extra to only 1 percent. Wall Street watchers note financiers tied to Northern Pacific wield influence across major railways, shaping conservative policy as holdings pile up. Prominent names including Adams, Baker, Ives, Stillman, Lamont, Payne, Mellen and Morgan influence the response to broader business pressures.
MENTIONED IN THIS ARTICLE
Northern Pacific Railroad
Wall Street
Beeen
Northern Pacific
West
Edward D. Adams
Robert Aoe
George F. Baker
Dumont Clarke
M. Gallaway
Brayton Ives
D. Willis
John
Kennedy
Walter G. Oakman
Samuel Spencer
James Stillman
Eben B. Thomas
Daniel S. Lamont
Oliver H. Payne
Charles S
Stock Transactions Report For June 16 Market
Weekend note shows weak stock activity with June 16 figures. To date this year totals 263,629 shares and 61,966,375 in value, while the corresponding date last year was 96,171,936.
Bond Transactions and Market Tilts Report
June 16 report shows year to date bond and stock changes with large outflows and rate quotes. Notes include collateral loans on call 14 2 percent, three months 3 percent, six months 34 4 percent, and commercial paper 3% to 4%. No advances in bonds. several declines listed including Erie gen lien and St Louis properties.
Bank Statement Shows Decline in Surplus Reserves and Loan Increase
The bank statement issued yesterday shows surplus reserves down 875 500 and deposits up 2 024 800 while loans rise 3 248 000. Interior money gains amid 3 500 000 in gold exports and a weak market tied to the Northern Pacific dividend and Chinese crisis. The weekly totals compare 1900 versus 1899 and 1898 with loans 809 999 900 and deposits 895 770 200 for 1900.
Prices Decline Sharply on Northern Pacific Dividend News
Wall Street futures fell after Northern Pacific declared only a 1 percent dividend, with broader declines as Chinese tensions and poor crop reports fueled selling. The slide hit rails and industrials, including Atchison, Great Northern, Missouri Pacific, and Chicago lines, with 260000 shares traded in two hours signaling broad liquidation and panic-like conditions.
MENTIONED IN THIS ARTICLE
Wall Street
Stock Exchange
London
Northern Pacific
Northern Pacific Trading Post
Atchison Common
Burlington
Great Northern
Missouri Pacific
Northwestern
Rock Island
St. Paul
Southern Pacific
Union Pacific
Baltimore and Ohio
Chicago
Indianapolis
Louisville
Hocking Valley
New York Central
Norfolk and Western
Reading First
Reading
Wisconsin Central
Northern Pacific reports 4 percent earnings after charges
The official statement shows net earnings for the year ending June 30 at 15,340,012 with 2,361,698 for betterments and 5,977,801 for fixed charges. Surplus totals 7,323,750 plus 325,243 from subordinate companies, dividends amount to 5,400,000, leaving postdividend surplus of 1,925,755 indicating about 4 percent earnings after betterment charges.
MENTIONED IN THIS ARTICLE
Northern Pacific
Railroad Presidents Talk on Slacking Business and Earnings
Railroad leaders express a general reaction to a softer business cycle and likely lower earnings ahead. C P Huntington cites a presidential year dullness. Truesdale of Lackawanna and Fink of Norfolk and Western foresee continued decline in merchandise freight. Erie’s Thomas expects prolonged dullness. Walker notes wheat belt crops influence earnings. Newman of Lake Shore echoes gradual fall in business.
MENTIONED IN THIS ARTICLE
Cc. P. Huntington
Southern Pacific
Truesdale
Lackawanna
Fink
Norfolk and Western
Thomas
Erie
Railroads Hold Off on Equipment Purchases Await Lower Prices
Rail managers curb orders, citing higher costs for iron and steel. Norfolk and Western President Henry Fink says purchases were essential but now hold until prices drop. Western peers report a hand to mouth buying stance, with small orders: 250 coal cars and 160 box cars for Choctaw, Oklahoma and Gulf. 1,000 box cars for Erie. Foreign inquiries include Meridional Mediterranean and Sicilian Railroad Companies for 125 locomotives and 460 baggage cars.
MENTIONED IN THIS ARTICLE
Henry Fink
Norfolk and Western
NEW York Times
Fink
Choctaw
Oklahoma
Gulf
Erie
Expect Higher Money Rates Said by Banking Authorities
Banking officials foresee higher money rates within weeks as gold exports, crop-movement funds, and government withdrawals reduce bank reserves. Warner Van Norden predicts July could bring 5 to 6 percent time money with reserves and demand improving. Fourth National Bank and others echo expected rise despite a Presidential-year hesitation.
MENTIONED IN THIS ARTICLE
Warner van Norden
National Bank of North America
Fourth National Bank
Gold Export Outlook Amid Uncertain French Trade
Banking houses debate whether another gold shipment to Paris will occur on the Thursday French steamer. The weekly review by C Schumacher & Co notes gold exports this season nearing 14 million, all added to Bank of France reserves. They trim summer export projections to under 14 million, citing weak cotton sentiment and a tight money market.
MENTIONED IN THIS ARTICLE
Paris
C. Schumacher & Co
Trade balances and gold export prospects after July
The article notes a temptation among banks to draw on gold ahead of autumn exports but suggests exchange won't stay at the gold export point after July. It highlights eleven months of trade showing a larger export surplus than the same period in 1898-99 and says gold shipments from here are unlikely unless someone pays a premium.
Business conditions in the West and national outlook
F M Dick reports from a Western trip that in May the stock market quieted and railroad earnings seemed permanent. Sixty days later the Street shows little activity with a belief of nationwide loss making. Western outlook remains hopeful, Pacific Coast backs expansion GOP, and Central and Northwestern crops are deficient, aiding wheat speculation.
MENTIONED IN THIS ARTICLE
F. M. Dick
Pacific Coast
Commission Usiness
Tax on Country Checks Meets Banker Debate
President Meigs of the Connecticut Trust Company reports an unsatisfactory interview with New York Clearing House authorities on tax issues for country check collection. Vice President Cannon of the Fourth National Bank urges a single simple plan to standardize charges, arguing drawers should eventually pay for the use of country checks.
MENTIONED IN THIS ARTICLE
Meigs
Connecticut Trust Company
Connecticut Club
New Haven
New York
Money Market and Exchange Rates Across Markets
A dense report outlines money on call rates from 1 to 4 percent and mercantile paper terms, with London and New York exchange quotes, discounts, and cables. It lists Clearing House balances, debits, and varied rates for sixty days to six months across international and domestic centers.
MENTIONED IN THIS ARTICLE
Mercantile Paper
Treasury
London
Continental Exchange
Reichsmarks
Guilders
New York
Chicago
Boston
New Orleans
San Francisco
Telegraphic
Charleston
Savannah
St. Louis
Cincinnati
London Market Opens Dull on Wall Street Cues
American railways started dull in London on lower New York prices, then partly recovered. Market unsettled and awaiting Wall Street direction. Close shows irregular, restricted business. various securities quoted with modest moves and bullion flows noted at Bank of England.
MENTIONED IN THIS ARTICLE
London
New York
Wall Street
Atchison
Canadian Pacific
St. Paul
Ilinois Central
Louisville
Union Pacific
New York Central
Rie
Pennsylvania
Reading
Erie First
Northern Pacific
Grand Trunk
Anaconda
Rand Mines
Bank of England
Buenos Ayres
Madrid
Lisbon
Rome
Market notes from Paris and Berlin on June 16
Paris trading showed little movement with some industrials offered and Rio Tinto and Kafirs supported. Spanish 4s recovered, 3 percent rentes at 100.47 percent. London exchange 2 shillings per pound for checks. Berlin uneven with Spanish 4s easier amid Spain’s interior situation. Americans weak after Northern Pacific dividend news. Boerse closing saw price realizations.
MENTIONED IN THIS ARTICLE
Paris
Spain
Rio Tintos
London
Berlin
Boerse
Northern Pacific Railroad
Exchange
Philadelphia Prices on a Standstill as Stocks Fall
Philadelphia market shows heaviness with small transactions and bedrock quotes. Electric of America slips to 9 percent then recovers to 9 1/4, Pennsylvania down to 64, American Cement near 8 with 4 percent dividend expected next Monday. Several issues not quoted and various bids and asks listed across lines.
MENTIONED IN THIS ARTICLE
New York Times
Philadelphia
Long Island
Electric of
America
Pennsylvania
American Cement
Electric of America
Philadelphia Electric
Consolidated Lake Superior
Lehigh Valley
New Haven
Pennsylvania Steel
United Gas
Cambria Steel
Reading
Cambria
Marsden
Choctaw
Phila. Trac
el. Co
Union Trac
Lehigh Val
Boston Stock Market Sees Active Day on June 16
Boston reports a busier stock exchange with 40 share sales lifting Calumet and Hecla to 712 declining to 715, Arcadian slipping to 18, Osceola to 594, Parrot to 38 percent, Utah to 24, Isle Royale to 23, and Gas and Coke up to 17 with a large 35 1000 issue at a discount. Swift & Co and Montana also show gains while local clearing house activity opens.
MENTIONED IN THIS ARTICLE
New York Times
Boston
The
Stock Exchange
Calumet and Hecla
Arcadian
Osceola
Parrot
Utah
Isle Royale
Gas and Coke
Swift & Co
Montana
Pullman
Mergenthaler
Also Mentioned on This Page
Hanover National Bank
Nassau St
Central National Bank
Broadway
Nassau Bank
Beekman and
Nassau Streets
Colonial Trust Company
Paul B'Ld'g
Undivided
Washington Trust Company
Stewart BuilDing
Bankers’ Cards
Kountze
Henry Clews & CO
Broad St
N. YY. Stock Exchange
Waldorf-Astoria
Fifth AV
Worth ST
Thomas St
Hudson ST
Mercantile
Court ST
Brooklyn
Vermilye &Co
Bankers
Simon Borg & CO
Investment Securities
W. Co. Ashwell
D. Morgan Waterman
Ashwell & Co
BROAD
N. Y. Stock Exchange
N. Y. Produce Exchange
Tel
Cali
Cortlandt
Fred. H. Smite
Ie Phong
Broad SF. N
P. J. Goodhart & Co
Bank & Trust Co
R. J. Jacobs & CO
New Street
New York. Stock Exchange
American Adding Machine Co
G. Lidenberg & Kraus, Bankers
N. ¥. Stock Exchange
A. M. Dutcher
Madison Av
Brown Brothers & CO
Wall ST
Outside Securities
David Pfeiffer
Cooke
Broom
Townsend Bldg
Toledo, St. Louis and
Kansas City Railroad Co
Toledo, St. Louis & Kansas City Railroad
George W. Ely
P Francis H. Legge
Louis V. Bright
Alfred H. Sway
John H. Allen
D. Crawford Clarl
George Coppell
Bayard Dominick
John I. Dryden
Benjamin N. Duke
Albert E. Goodhar
Edwin Gould
Edmund T. Halse
J. Wa
Esident
Tors
Wm. H. Hollister
Percival Knauth
Francis H. Leggett
Almeric H. Paget
William G. Bark
Gilbert M. Plympton
William Schall, Jr
John W. Simpson
Francis S. Smithers
Ransom H. Thomas
Wood, Jr
MorTon Trust CO
Levi P. Morton
Thomas F. Ryan
James K.corbiere
the Exploration CO. OF
Exploration Syndicate
Mills Building
Co. van Rensselaer Cogswell
United Traction and Electric Company
Jersey City
Proximoe. Co
Ss. Sweetland
Reading Co
Philadelphia and Reading Coal and Iron Coe
J.W. Morgan & Co
N. Y
W. G. Brown
Southern Railway Company
Josiah M. Hill
Washington, D. C
Consolidated
Pine St
Railroad Equipment Company
Atlantic Trust Company
State Trust Company
Consolidated Cattle Car
State Bankers’ Meeting
New Light and Power Company
Bull
Bear
Europe
James J. Hill
Roswell Miller
Mellen
Stock Transactions
St. L. S. W. Ist
Laclede
Teeee
Smelt & Ref
Iowa Central Pf
Steel & W
Lake Erie & West
Win Plate
Louis. & Nash
Tobacco
Manhattan
Met. Street Ry
Minn
Brooklyn R. T
Morris & Essex
Canada
South
Nat. Ches. & Ohio
Steel
J. Central
Chi
Ind
Acccess Col. Fuel & Iron
Pacific Mail
Eenenee Col. So
Pennsylvania Consol
People’s Gas
Reading Scene
del. & Hudson
Den
Rio Grande
Wennes
St. Ss
Federal Steel
Stoss S. S. & I
Federal Steel P
General Electric
Southern Ry
Tenn. Coal & Iron
Union Pac
C. S. Leather
Wis
Central of
Iowa Central
Aldace F. Walker
Newman
Lake Shore
Money and Exchange
London Market
Boston Stock Market
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!