Financing of American Wire and Steel Turbulence
Government hearings on the formation of the American Steel and Wire Company reveal pools and alliances from 1896 to 1898. Witnesses describe the soup house era of sharp competition between Carnegie and Illinois Steel, with pools like the Pneumatic Association and the structural pool shaping early steel markets. Financial details show a $28 million cash syndicate for the New Jersey entity and complex stock allocations to promoters and bankers.
MENTIONED IN THIS ARTICLE
American Steel and Wire Company
United States Steel Corporation
Powell Stackhouse
Cambria Steel Company
Cambria Iron Company
Dickinson
Steel Corporation
Carnegie
Illinois Steel Companies
Cambria
Structural
Plate Association
Pneumatic Association
R. V. L. Lindabury
Illinois
New York
Chicago
Mr. Stackhouse
Stackhouse
Frederick Strauss
Banking House
Theteel Corporation
American Steel and Wire Company of
New Jersey
New Jersey Corporation
State Convention approves income tax for public service firms
The New Hampshire State Constitutional Convention favors a direct income tax on public service corporations. The amendments also redraw representation with a 36 member Senate and a 240 member House, replacing the current 24 and 409 respectively. The measures go to voters at the next election. The convention plans to adjourn tomorrow noon after finalizing these questions.
MENTIONED IN THIS ARTICLE
Concord
N. H
Thema
Senate
House
Salisbury elected president of national credit men group
Fred P. Salisbury of Minneapolis was chosen President of the National Association of Credit Men at the seventeenth annual convention in Boston. Charles B. Meek and Enoch Rauh were named First and Second Vice Presidents, with Meek a former secretary-treasurer of the association.
MENTIONED IN THIS ARTICLE
New York Times
Boston
Fred P. Salisbury
Minneapolis
National Association of Credit Men
Minneapolis Association
Charles B. Meek
Fourth National Bank of New York
Enoch Rauh
Pittsburgh
Meek
National Association
New York
Rauh
Pittsburgh Association
Roberts
Weeks
Massachusetts
Charis Bayly
Denver
Rosson
Baltimore
J. L. MecWheter
Nashville
R. W. Ramsey
Oe Sar
E. D. Page
Brooklyn transit notes oversubscribed as $40 million offering ends
Financial notes report the Brooklyn Rapid Transit notes syndicate of $40 million oversubscribed and no further applications accepted. Chauncey H Murphey named Assistant Treasurer at United States Mortgage and Trust Co 125th Street branch, William T Law becomes Assistant Secretary, and R H Timpson appointed manager of the same branch. Friday June 28 opens cotton deliveries under July contracts at the local exchange as market activity rises on delivery expectations. Co B McWilliam joins Gilbert t Co bond department after leaving Foster & Adams, and Peck & Co 14 Wall Street issues a note on National Transit Co and its subsidiary.
MENTIONED IN THIS ARTICLE
The
Central Trust Company
Kuhn, Loeb & Co
Kidder, Peabody, & Co
Brooklyn Rapid Transit Notes Syndicate
Chauncey H. Murphey
Mana
125Th Street
United States Mortgage and Trust Company
William T. Law
Peck & Co
Wall Street
National Transit Company
Central Bank praised by Virginia banker at meeting
William C. Cornwell of J S Bache & Co told the Virginia Bankers Association in Old Point Comfort that a Central Bank would work in the United States and praised France’s Bank of France as a model. He argued against anti Central Bank prejudice and discussed the role of clearing houses and the National Monetary Commission bill.
MENTIONED IN THIS ARTICLE
New York Times
Old Point Comfort
William C. Cornwell
J. S. Bache & Co
Virginia Bankers’ Association
United States
Cornwell
Bank of France
French
Chamber of Deputies
France
America
Clearing House
Money Trust
New York Clearing House
Congress
Newark Clearing House
National Monetary Commission
New York City
Eprint
New York
Time for Tort Creditors in Metropolitan Case
The Public Service Commission set a hearing next Wednesday for tort creditors of the Metropolitan Street Railway who have not accepted the reorganization offer. Claims totaling nearly 400 000 dollars remain unanswered, and an extension is granted to exchange for New York Railways Company bonds under favorable terms.
MENTIONED IN THIS ARTICLE
Metropolitan Street Railway
New York Railways Company
Public Service Commission
Willcox
Maltbie
Metropolitan Bondholders Committee
Metropolitan
Receivers Named for Alabama Consolidated Coal and Iron
Vice Chancellor Howell appointed receivers for the Alabama Consolidated Coal and Iron Company in a suit by American and British Manufacturing. Halsey M. Barrett, Parry Coffin, and Harrison S. Matthews named. company shows $8.75 million capital, $9 million bonds, and $726,485 current liabilities with a $40,000 payroll due.
MENTIONED IN THIS ARTICLE
Trenton
N. J
Howell
Alabama Consolidated Coal and Iron Company
American
British Manufacturing Company
Coal and Iron Company
Halsey M. Barrett
Newark
Parry Coffin
Baltimore Trust Company
Maryland
Manhattan Banks Report Large Assets and Liabilities in 1912
The articles present detailed balance sheets for The Corn Exchange Bank Manhattan Company Fidelity Bank and related entities as of June 14 1912. Reports show extensive assets including U S bonds public securities loans and discounts trust company balances and real estate along with liabilities such as capital stock surplus deposits and borrowings. Notable figures include total deposits around 76 million and total liabilities near 92 million across the institutions.
MENTIONED IN THIS ARTICLE
Ees
Fanna
Brooklyn Banks
Williamsburg Trust Company
Eae
Eerie Grieetae Eee
Cyetrad Ea Cetsce Rere Reteete Center Serenue
State of New York
County of New York
Alexander Walker
George Sg. Carr
Colonial Bank
Columbus Ave
City of
New York
George 8. Carr
Alexander C. War
Notary Public
New York Co
Spee
M. M. Belding, Jr
John Williams
Broadway Trust Company
Broadway
GEO. W
Appeal Tap Line Cases Move To Commerce Court
An effort started in Washington to overturn Inter-State Commerce Commission findings in tap line cases. Louisiana & Pacific Railway Woodworth Louisiana & Central Railway and others petitioned the Commerce Court to require trunk line railroads to grant through routes and joint rates claiming the commission lacked authority to classify certain top lines as plant facilities rather than common carriers.
MENTIONED IN THIS ARTICLE
Washington
Inter-State Commerce Commission
Commerce Court
Louisiana & Pacific Railway
Woodworth & Louisiana & Central Railway
Metropolitan Bank Condensed Statement of Condition June 14 1912
The Metropolitan Bank reports a condensed condition as of June 14 1912 including capital stock reserves profits deposits from individuals and banks and trust companies. It lists totals for deposits cash on hand due from banks real estate and securities with figures totaling several million dollars across categories.
MENTIONED IN THIS ARTICLE
U. S
U.S
Matal Aananit
New York State
Also Mentioned on This Page
Steel
Bankers
Steel Trust
New Hampshire
Credit Men
F. P.salisbury
Charles E. Meek
Financial Notes
Central Bank
Alabama CO
Coal and Iron Concern Falls
Drrten
National Bank
Resources
Ein Bank
Reports OF National Banks
Eport
Corn- Exchange Bank
Vulit
National Nassau Bank OF New York
State of New
York
Bans, Zee
Undivided
U. 8
Rogan Odie
Walter E. Frew
Fred’k T. Martin
Corn Exchange Bank
William Street
City of New York
H. WM. M.uckley
Kings County
New York County
N. Y
Fidelity Bank
Manhattan Company
Total
Cond Bank OF the Metropolis
Hprus
A. W. Gilbart
John P. Noonan
Pea Adank
Altlebl
Edward Harl
John Munro
Augustine J. Smith
National Reserve Bank
National Banks
Stephen BA
D. H. Pierson
Manhattan Company, & Bank
Superintendent of Banks
Stephen Baker
J Wallace
Johnso
Tuna
Vian
Edwin
Laffey
Bank of the Metropolis
Union Square
Edwin 8. Laffey
M. A. Fowler
Central Trust CO
NY 7
Waut
Sis
Auouee
E. Francis Hyde
Ferguson
Central Trust Co O
M. Ferguson
Seal Publicies
Notary Cy . Co
N. Y. Co. Sa
N. Y. Co. Register
Metropolitan “Trust
Seacee
Lvls
Tokon Asa
Edward H. Peaslee
Eugene W. Dutton
Madison Avenue
Seventy-fifth Street
Edw. H.peaslee
E. W. Dutton
E. A. Henderson
Notary Publi County of
Westchester
N. YF
Wuss
Suse
SU Amn Ea Orci
Pater
State of
County of
R. B. Minis
van Brunt Pearce
Royall Victor
Jas. G. Newcomb
William O. Allison
Germania Bank OF
Bank OF America
Jane
Ee Wvince
SI Security Ibank OF
New
Saseinesa
COTO cee wessees_ee
Eeteee
I. W
Beckley
Jacob B. Toch
New York Register
Corrett
I F. Hutchinson, WM. OH. Pobrich, David D. Wylie
Eat
En- SP
Ceeseck
Eeres
S. R. Ross Appleton
Louis V. Ennis
Security Bank of
R. Ross Appleton
Robert Roy, Jr
Kings Co
William H. Perkins
Walter M. Bennet
William. H. Perkins
Denzler
International Bank
IERE
Thomas H. Hubbard
H. Green
John ‘Hubbard
View
Alfred J. McGrath
Chas
BE. C. Schaefer
Loftin Love
Germania Bank
Bowery
Edward C. Schaefer
Emil T. Fuess
Notary Publi New York Co
Arletrte
Brayton Ives
Bertram Cruger
A. E. Vogler
New_York County
Commission
NEW York Produce Exchange Bank
New York Clearing House Association
Forrest H. Parker
Adelbert H. Alden
John R. Wood
Thomas B. Nichols
New York Commercial Co. Produce Exchange
John E. Berwind
Berwind- Howard C. Rice
Rice, Quinby & Co
Corn- White Coal Mining Co
Mission Merchants Grain and Flour
Onabesa
Benzess
Albert
Ontario Car &8
R.R. Cotton Merchants
abNerd Brothers & Co
John
East 57Th Street
James McMahon
New Yorkdustrial Savings Bank
Public Bank OF
Vuur
Vital Woodeters Seers
Tateree
Joseph S. Marcus
Joseph J. Bach
Delancey Street
Borough of
Manhattan
Joseph 8
Marcus
Herman
Gottlieb
Public N. ¥.Co
Pacific Bank
Banks and Trust Co
Livi
New York Times Weekly Financial Review
Adv
Financial Review