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Newspaper
New York Times
Location
New York, New York, United States of America
Date
Jun 18, 1907
Page
10
Traders faced puzzling drift with bears and bulls split on near term outlook. Market breadth was weak with few stocks driving activity as Union Pacific rights and select industrials traded thinly. copper price outlook conflicted, while insurance and banking sectors offered cautious optimism and hopes for a general market improvement.
London market yesterday saw copper edge higher than Priday closing with spot at £7 15s 64d and futures up 12s 64d. Platinum climbed with spot at £1188 and futures at £181 10s. Seed swise strong at £21 10s. Spelter steady at £24 108d. Iron warrants ease to 5d 14f.
The curb market and outside exchanges reported very low trading volume with most issues ending lower. United Copper rose to 64 percent on 1,000 shares while Nevada-Utah fell to 4 1/2 percent after 6,000 shares were traded. activity in industrials was broadly weak.
The Federal Weather Bureau predicts Tuesday and Wednesday winds from the east to southeast across the Carolinas Georgia Western Florida Alabama Mississippi and Louisiana with Florida showers in the southeast. Cotton trading was active then nervous with a firm midsession and a net 2 to 8 point loss at close. 200000 bales sold. Opening declined 3 to 10 points. crop complaints from the Southwest supported an uptick, while drought risks and boll weevil reports weighed on prices.
Charles D. Barney, senior partner of Barneys Co. D Barney & Co., announced his plan to retire from the firm and from active business on July 1 after thirty four years of leadership on Wall Street. The move comes as fellow board member Heer Boate discusses the firm's future direction.
London stocks end firmer after initial weakness as Bank of England gold moves and Russian Parliament dissolution fears ease. Paris bonds and Russian imperial issues rally, Berlin markets open firm then ease. currencies and discount rates show varied movements across major centers.
Special to The New York Times reports Colorado Springs closing quotations on the local exchange. The page lists numerous mining stocks with varied values as of yesterday in London, highlighting Esperanza and Oro electration's ind among others.
A June 17 report details numerous new incorporations in Albany including Hand Company New York with 250000 capital and directors A B Richmond W H McCollum M C Meyer Ben Gate. Mosher Water Tube Roiler Company capital 200000. Vermilye Co capital 125000. Van Brocklen & Son Glove Company capital 75000. Auditorium Theatre Company capital 75000. Broadway and Seventy-second Street Realty for New York capital 14000. Ale and Beer Condenser Brooklyn capital 000. Beehive Realty Company capital 10000. City Property Corporation capital 25000. East Ninety-seventh Street Corporation capital 50000. Lathrop Renn Rochester realty and mortals. McKee & Beers Construction Company capital 30000. Schroeder Ice Company capital 5000. Triangular Realty Company New York capital 1 Ital 000. Gneatonet Inspections New York capital 000. Goodrich Brooklyn directors G W Schodde Lawrence Ro New York. S Friedman Company Brooklyn roofing material capital 20000. Freed James McKee Company New York sausage manufacturing capital 10000. Company New York capital iredrettere Maz Lobarcky Brooklyn Philip Geldes Louis Herman New York. Arthur Poldemiths Reality Company New York capital 10000.
A brief note appears to reference incorporation status in New Jersey along with a developing company named in unclear terms. The text fragments suggest a corporate filing or business development update, but key details are missing to identify the exact entities or actions. Further readable context needed.
Leo C. Weir, president, announces a 200 percent dividend in collateral trust bonds bearing 4 percent interest to stockholders of Adams Express Company. Bonds totaling $24,006,000 will be issued, with Stand ard Trust Company as trustee. Record date June 27, bond dating June 1, 1907, maturing in forty years. Company emphasizes continued 4 percent annual stock dividend and notes similar moves by Wells Fargo and American Express. Adams Express operates about 50,000 miles of railroad including NYNH&H, Pennsylvania, and C B&Q.
The Court of Errors and Appeals sustains the Duffield act taxing second class railroad property at local district rates. The decision raises railroad taxes from under $1 million to over $4 million and influences the Perkins act that taxes the main stem at an average rate. The ruling may prompt the Supreme Court to affirm Perkins and release more than $8 million in taxes.
Erie Railroad announces resumption of construction on the Genesee River Railroad cut off between Cuba New York and Horneraville funded by a two million dollar loan from outside sources. The project follows a recent external loan and aims to advance both the Genesee River line and the Erie Jersey line toward completion despite earlier hesitations over public utilities law.
Charles M Schwab and family arrived in Cleveland to attend the wedding of his youngest brother Edward H Schwab a Notre Dame instructor and lawyer and Edith McGorray niece of Sheriff McGorray at South Bend Ind The couple will be joined by immediate relatives only and the groom's party declined Schwab's private car as inconsistency with their simplicity ethos.
Police Commissioner Bingham announced a full investigation into BRT special policemen at Coney Island after reports they treated passengers roughly and lacked uniforms or other signs of authority. Deputy Commissioner O Keeffe ordered immediate action.
Superintendent C B J Snyder reports in his annual release that lack of reliable contractors delays city school building projects. With 70 000 pupils on part time due to crowded facilities, he pushes for a bonus clause and percentage-system to speed work, criticizes low-bid focus, and notes city payment delays reduce penalties and accountability.
City Superintendent Maxwell leads by issuing circulars to principals to report absences of teachers who traveled to Albany to lobby for equal pay legislation. The Board threatens severe punishment and salary deductions for unauthorized absences beyond allowed reasons. A recent meeting empowered the By-laws Committee to draft rules preventing recurrence.
Smoke from a nearby car barn fire at Madison Avenue and Eighty-sixth Street prompted Principal Blake to notify Superintendent Maxwell to close Public School No. 6 across from the barns. About 2,000 pupils affected as smoke blew into the building yesterday.
Five weeks of counting Uncle Sam's gold and silver stored at the Sub-Treasury near finish as Assistant Treasurer Hamilton Fish begins a second term. About 267.8 billion dollars were verified, with 2 000 tons of silver and 350 tons of gold weighed and sealed sacks checked rather than opened.
Water Engineer Griffin of Jersey City notified the Street and Water Board that an unnamed private water company, possibly a branch of East Jersey Company, was laying pipes into Jersey City via the Delaware Lackawanna and Western Railroad roadbed. The aim was to supply water to the Lackawanna and Erie Rail and other customers, with the board urged to take action to prevent unlawful public revenue loss.
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