Wall Street Sees Downturn in Union Pacific and Southern Pacific E arnings
The January earnings reports for Union Pacific and Southern Pacific show sharp declines, with Southern Pacific posting nearly 1.5 million dollars less net and Union Pacific about 1 million dollars lower. Analysts note broad net declines across 18 railroads, with only one up, while reform measures like a proposed $5 stock transfer tax and new broker taxes spark discussion ahead of a likely Presidential year. A Canadian statesman warns against unscientific legislation, and traders monitor rumors and the bank statement for potential market impact as they hope for a slow return to normal.
MENTIONED IN THIS ARTICLE
Union Pacific
Southern Pacific
Harriman
Albany
Street
Congress
Delaware & Hudson Case Probes Railroads Trolley Assets
A Supreme Court hearing before Justice O'Gorman examined the Delaware & Hudson Company and related properties over dividends declared last December. Judge Rufus B. Cowing contends asset valuations for trolley lines and coal lands overstated true worth, while Morgan J. O'Brien defends the company saying dividends were earned from surplus. decision reserved.
MENTIONED IN THIS ARTICLE
Peice O'Gorman
Supreme Court
Delaware & Hudson Railroad Company
Rufus B Cowing
Judge Cowing
Hudson Valley Railroad Company
Delaware & Hudson
Delaware & Hindson
Morgan J. O'Brien
Railroad
Resumption Outlook for Knickerbocker Trust Case
Justice Clark will decide in Staten Island whether the Knickerbocker Trust resumes or remains in receivership. The Resumption Committee and Parsons Satterlee team pressed non-assenting depositors to agree to the plan while the stockholders report the full 2,090,000 funding is in hand. An examiner from the State Banking Department prepared a precise business close for Superintendent Clark Williams to review.
MENTIONED IN THIS ARTICLE
Knickerbocker Trust Company
Justice Clark
Supreme Court
Staten Island
Davies, Stone & Auerbach
Parsons-Satterlee Committee
Julien T. Davies
State Banking Department
Clark Williams
Virtualis
Clark
Williams
Rock Island Notes Extended For One Year
The $6,000,000 Chicago Rock Island & Pacific Railway notes maturing April 1 are extended for one year at 6 percent secured by first mortgage bonds of the Rock Island Arkansas Louisiana Railroad Company. Holders may extend on favorable terms or receive par at the Rock Island office if declining extension.
MENTIONED IN THIS ARTICLE
Chicago, Rock Island & Pacific Railway
Chicago, R Island & Parifie Railway Company
Messrs. Spever & K
Amng
Rock Island, Arkansas & D Louisiana Railroad Company
Messrs. Speyer .& T
Rock Island
Arkansas
Louisiana
R. R. Co
Messrs. Speyer & Co
Trade Conditions Reflect Cautious Optimism in Commerce
Report from Dan's Review and Bradstreet's notes a hopeful trend across the country with rising industrial activity and replenishment of inventories. Despite slower real effects, exports rise and imports fall while railway earnings drop and money tightness curbs buying in textiles and lumber.
MENTIONED IN THIS ARTICLE
Dan
Foresten
Iink Xeuanges
New York
Cotton Exchange Seat Sells Near Historic Low
Nesmith sold yesterday for 7700 dollars, the Cotton Exchange seat in WoC reaching its lowest price in years. The previous quotation stood at 8000 dollars, marking a notable drop in value.
MENTIONED IN THIS ARTICLE
Cotton Exchange
Woc
Nesmith
Foreign Markets Report Shows Mixed Opening Trade
London shares opened with cautious mood amid German British naval policy rumors but gained ground after Lord Tweedmouth’s clarification. Consols and gilt edgings eased, Rio Tinto and diamond shares weakened while American shares gained after New York opened, closing strong. Paris open weaker, Berlin markets quiet but firm.
MENTIONED IN THIS ARTICLE
New York
New York Incorporations Add Dozens of Firms in Albany
Special to The New York Times Albany March 6 Several companies were incorporated in New York with capital ranging from 5,000 to 200,000 dollars. New firms include Tobacco Trades Coupon Company Pan-American Drug Company New York Holding and Construction Company International Reporting and Adjustment Company Associated Importing Company and more. Directors listed for each include Harry A Jaffe Lucinda R Zinn Charles H Zinn and others.
MENTIONED IN THIS ARTICLE
Albany
Tobaccs
New York
Capital
Harry
A. Stuart
C. Monteith Gilpin
GS William Street
Sam H. Harris
Washington Street
Charles H. Zinn
Charles HW
Zinn
Jefferson Avenue
Brooklyn
John H. Ficken
Ridgefield Park
N. J
Pan-American Drug Company
Harry A. Jaffe
West 116Th Street
Phillips Smith
West 119Th Street
Louis Kaplan
Market Street
New York Holding and Construction Company
Frederick W. Kristeller
West 17Sth
Frank Vernon
George F. Barnes
Bassett W. Mitchell
Thirty-fourth Street
George R. Clements
Twenty-first Street
C. August Meier
Ward Street
Orange
Alexander C. Connor
Westmith Street
Robert Connor
Miller Avenue
Tuter-State Printing Corporation
Walter L. Rathhorne
Charles Woodbury
West Twentieth Street
Charles Freibehr
West 11St Street
Spachner
Kalich Theatre Company
New
East Third Street
Samuel Levy
Bowers
Herbert Dry Goods Company
Frank de Marco
Alice L. Cohen
Eighth Avenue
120Th Street
William Ehrlich
Broadway
Financial Notes Include Board Changes and Bond Issues
Grant B. Schley is replaced by W. L. Luckett as director of the Havana Tobacco Company while Schley remains on the American Tobacco Company board. United States Rubber plans $8 million of 18 month refunding notes to redeem $8 million of 5 percent notes due March 15. Mechanics National Bank elects S. T. Morgan to fill a vacancy after John Sinclair's death. New York Cotton Exchange adds Ganong, Eccles, and Lowder to its roster. Railway Steel Spring Company reelects all officers except Treasurer Carnahan who takes a one year medical leave. treasury duties temporarily covered by assistants. US issues $8 million of cent notes due September with March 15 and Sept 15 redemption dates, backed by rubber company collateral at subsidiary firms.
MENTIONED IN THIS ARTICLE
Financial
Tnitedates
Mechanics’ National Bank
S. T. Morgan
Virginia-Carolina Chemical Company
John Sinclair
New York Cotton Exchange
Arthur P. Ganong
Memphis
Tenn
A. P. Eccles
A P. Eccles
Rock Island Extension Offer for Railway Notes 1908
The Chicago Rock Island and Pacific Railway offers extension options for notes maturing April 1 1908. Holders may extend at Speyer & Co New York by March 23 1908 with new coupon sheets and a $5 per 1000 note cash payment. Non extending holders receive par on April 1 1908.
MENTIONED IN THIS ARTICLE
Messrs. Speyer & CO
Pine Street
New York
In Memoriam Auction Catalog Fragment at Vesey Street
Auction list of miscellaneous securities and properties with varied values and dates including Equitable Gaslight Co. of Suffolk Co. notes, Canada Southern R R Co. stock, Citizens' Traction Co., La Ligna Gold Mining, and real estate in Rockaway Queens. Includes bonds and notes from Thomas, Broad Street trusts, and several rail and manufacturing interests.
MENTIONED IN THIS ARTICLE
Exchange
Vesey Street
Equitable Gaslight Co
Suffolk Co
The
la Ligna Gold Mining Co
Ventifex
Robert L. Bright
P. c
Boulevard
Park Av
Rockaway
Queens Borough
N. Y
People’s
Rowing Co
Trenton
N. J
People’s Trust Co
Nassau Bank
Casualty Co. of America
N. A & New Jersey Telephone Co
R. Penn
Coll
Trust
P. O
Irassett Manufacturing
Free
Virginia Iron, Coal & Coke Co. Cts
Farmers’ Loan & Trust Co
Terminal Bank of
B'klyn
34Th Street
Crosstown
Kansas & Texas
St. Louis
Louisville & Jeffersonville
Mexican Central
Defiance
Ohio
Mechanical Rubber Co
Westinhouse Electric & Mfg. Co
Pennsylvania Central Brewing Co
Westinghouse Electric & Mfg. Co
United States. Casualty Co
Wheeling & Lake Erie R. BR
Thompson-Starrett Co
Annual Meeting Notice of Missouri Kansas & Texas Railway
The Missouri Kansas & Texas Railway Company invites stockholders to its annual meeting in Parsons Kansas for director elections and other business. Meeting set for a Thursday in April 1908 at 10:00 A M with stock transfer books closed from March 10 to April 19. Adrian H Joline president and N Whitehead secretary.
MENTIONED IN THIS ARTICLE
Missouri, So , Texas Railway Co
Nore Parsons
Kansas
Missouri, Kansas & Texas Railway Company
Laws of Kansas
Parsons
New York
Wall Street
Adrian H. Joline
Co. N. Whitehead
Guggenheim Ea E Ee Comans
Broadway
Guggenheim Exploration Company
E Company
Laos
Chas. K. Lipman
Chicago Junction Railways .& Union Stock Yards Company
E. M. F. Miller
Jersey City
N. J
Western Maryland securities fall as receivership takes effect
Baltimore March 6 Receivership for the Western Maryland Railroad lowers its own securities. First mortgage bonds drop to 48 percent from 53 bid and 56 asked, with last at 49 percent. Market for shares and bonds shows varied activity as listed securities on the page reflect price movements and trading.
MENTIONED IN THIS ARTICLE
Baltimore
Western Maryland Railroad
D . Ponds
City Star
Florida South
Parific Beriwn Ss
Seaboard
Western Md
West Va
Anacostia, & Pot
Usly
Nor. Balt. Ry
Maryland
Citizens’ Bank
Mechancs’ Bank
London banker to represent debt holders in Chicago Great Western
Robert Fleming will sail tomorrow to represent a committee of English debenture holders in the Chicago Great Western Railroad. The group aims to assess the property for mortgage options, plan for future capital needs, and work with American stockholders on a reorganization plan.
MENTIONED IN THIS ARTICLE
Chicago Great Western
London
Robert Fleming
United States
Chicago Great Western Railroad
Charters Granted In Delaware Assembly On March 6
Wilmington March 6 The Pan American Development Company of Wilmington secured a charter to develop mines with capital of 25000 dollars. Potomac Mining Company of Wilmington received a charter to search for minerals and ores with capital of 225000 dollars. El Treve Tobacco Company of Philadelphia issued a certificate of amendment changing its name to Maurce Tobacco Company.
MENTIONED IN THIS ARTICLE
New York Times
Wilmington
Pan-American Development Company of
Potomac Mining Company
el Treve Tobacco Company
Philadelphia
Maurce Tobacco Company
Proposals for Baltimore City stock offerings in 1908
Baltimore announces sealed bids for the purchase of two million dollars in registered Baltimore City stock. Two issues: 1) 1,000,000 redeemable 1954 bearing 4 percent interest. 2) 1,000,000 redeemable 1936 bearing 4 percent. Bids due March 16 1908 at the Mayor's Office. A 2 percent certified check deposit required.
MENTIONED IN THIS ARTICLE
Baltimore
Hell
General Assembly of
Maryland
General Assembly of Maryland
Annex
City OF
Baltieee
Commissioners of Finance
Board of Commissioners of Finance
City Hall
United States Rubber Company Issues 8 Million in Coupon Notes
The United States Rubber Company issues 8 million dollars in coupon notes of 5000 each redeemable at par on interest dates March 15 and September 15. Proceeds refund maturing notes and are secured by 12 million dollars of subsidiary notes. Trust limits debt and requires cash assets above 15 million. Net cash assets at 1907 year end were about 24.296 million. Nine months to 1907 show over 4 million in net earnings after interest.
MENTIONED IN THIS ARTICLE
United States Rubber Company
United States Rubber and Subsidiary
Rubber Goods Manufacturing Company
Also Mentioned on This Page
Canada
Dominion
Stith
Politics and Business
IND
Cowing
New York & Canada Railroad
United Traction Company of
Delaware & Hudson Trolley
Knickerbocker Trust
Speyer & Co
Bradstreet’s
Paris
Berlin
Foreign Public Securities
Munich
Augsburg
Frankfort
Lon- N.Y
Arson Sweevers Tol
PAC
St. Paul
Delates Peace
Central
Ae Louis
M. Y
Vania
Vania . O* Ra Qt 1137, 112) |Pennsylveee Eee . A) Os
S. Steel
Jo Amawcaweer
Amer
Cement Copper Ss
Cambria Steel
Ins. Co
N. Am
Wey
Lehigh
Svacaas
Cocees
SOL Pennsylvania Eaener
Penn Salt CO
Penn. Steeres SS BS Oo Ab Con
Phila. Electric
Cis
Ton Pal” Belmont
Tonopah Mining
Union Traction
C.rscevess
Luia
Garnfost Construction Company
Yonkers
Westchester County
Frederick A. Garnjost
High Street
Rudolph
Garnjost
Jefferson Street
Paul HM. Garnjost
Vineyard Avenue
IN. J
the Shippers’ Forum, Inc
James T. Newell
el Mora
Elizabeth
James M. Bergin
St. Nicholas Avenue
George BR. Edwards
Beaver Street
New Ode
Beckman Hill Live Poultry Company
Silas Strauss
Seventy-eighth Street
Abraham Schiff
Beckman Street
Pawler Company
Mary D. Fowler
I. Ellerood
West
Charles G. Fowler
Brys Mawr
Nevy Family
Grocery Company
Isaiah
Frances B. Watson
McDonough Street
New York-Jamaica Realty Company
Brookyn
William P. Rae
Harold C. McNulty
Montague Street
George W. Palmer
Manhattan Avenue
Martin Hat Company
William Ferris Martin
William Hugh Martin
Fenimore Street
Samuel Rosenstein
East Ninetieth Street
Tinted Fruit Growers
Porto Rico
Charles H. Luscomah
Kinne Laundry Company
Eugene L. Falk
Morgan Building
Financial Notes
Grant B. Schley
Havana Tobacco Company
W.L. Luckett
Mr. Schley
American Tobacco Compant
Rubber Company
Chicago, Rock Island & Pacific Railway Company
Geo. T. Boggs
Treas
Chicago, Rock Island
Pacific Railway Company
Adrian H. Muller & Son
William ST
Farmers’ Loan and Trust Company
William Street
Mark T. Cox
Edgar L. Marston
John W. Hamer
Strong & Cadwalador
Delaware
Baltimore City
Western
R. R.co
Sutro Bros. & CO
Bankers
New York Stock Exchange
NEW Amsterdam National Bank
New Amsterdam National Bank of
Charles A. Hanna
Blair & CO
Broad Street
First National Bank
Wall Street, New York
Kidder, Peabody & CO
Devonshire Street
Boston
Mass
State OF New York
State Comptroller’s Office
Albany, N. Y
State of
Martin H. Glynn
N.Y
Westinghouse Electric & Manuacturing Company
Bankers Trust Company
First Trust and Savings Bank
Chicago
Til
First National Ban OF Pittsburgh
Pittsburgh
Paw
Shawmut B NK
James N. Jarvie
A. G. Becker
Richard Delafield
Charles A. Moore
Neal Rantoul
F. H. Skelding
Albert H. Wiggin
Albert Stickney, JR
New York City
Fort Totten
Governors Island
Dept. of the East
U. S
MO. W. Pullman
Dilloff & Greenwald
Isidor Dilloff
Jonas Greenwald
WM. Jewett & CO
Colorado Fuel & Tron Company
Denver
Colorado
Colorado Fuel and Iron Company
Colorado Fuel Company
Metropolitan Trust Company
Atlantic Trust Comany
Trustes
General Mortgage
Albert A. Miller
Columbus & Hocking Coal & Iron Company
Central Trust Company of New York
Central Trust Company OF
Fw York
Br J. N. Wallace
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