Indictment Charges Morse and Curtis in Bank Overdraft Scheme
Charles W. Morse and Alfred H. Curtis were indicted on 29 counts by a Federal Grand Jury for conspiracy false entries false reports and misapplication of funds tied to overdrafts totaling 210681.47 at the National Bank of North America. The case, before Judge Hough, includes dummy loans to Morse associates and related stock purchases with bank money.
MENTIONED IN THIS ARTICLE
Charles W. Morse
National Bank of North America
Alfred H. Curtis
Morse
Federal Grand Jury
Hough
United States
M. K. Olcott
C. W. Morse
Curtis
Shields
Massachusetts Bonding Company
William Carrol
Riverside Drive
John F. Carroll
Katherine Gelshenen
H. Curtis
Cor
American Ice Securities
Davison Rown
Carroll
Ofmerican Ice Securities
Leslie E. Whitng
American_Ice
Whiting
Katherine Telshenen
Ew Amsterdam National Bank
C . Wilson
K. A
National Banking Act
National Banking
Aws
Supreme Court
O’gorman
Philip J. Britt
Life in Spigotty Land on the Isthmus
Sam Blythe offers a social sketch of life on the Isthmus, focusing on cheerful society and local quirks rather than technical details. He notes a baseball crowd roused to enthusiastic chaos and criticizes Uncle Sam'sHotel for serving less food value per price. Panama life is tied to earnings, with social snubs and smiles based on pay. The piece appears in this week’s Saturday Evening Post.
MENTIONED IN THIS ARTICLE
Sam” Blythe
le Panis Canal
Blythe
Spigotty Land
United States
Isthmus
Panama
Steamship Accounting Jurisdiction Disputed by Lines
At the American Steamship Association meeting coastwise carriers argued for exemption from Interstate Commerce Commission oversight while the commission claims Hepburn law gives it authority. An informal talk with a commission representative followed, with firms saying they would supply proper information but that the issue likely requires court settlement. Chairman Miller of the association noted no desire to oppose the commission.
MENTIONED IN THIS ARTICLE
American Steamship Association
Steamship Companies
Inter-State Commercce Commission
Steamship Company
Inter-State Commerce Commission
Miller
the Steamship Association
New England Navigation Company
New Haven’s Steamship Company
JUMP IN UNION PACIFIC STOCK PLANS
Wall Street hears of a plan for a holding company related to Union Pacific investments. Rumors say a 40 percent stock dividend might be declared and the dividend rate cut from 10 percent to 6 percent discussed, lifting Union Pacific to about 123.5 cents. No new steps or immediate developments in the holding company plan were reported.
MENTIONED IN THIS ARTICLE
Wall Street
Union Pacific
Steel outlook brighter and modest orders in steel trade
The Iron Age notes a lean week for iron and steel demand but cites growing confidence in a steady upturn. Rail orders reach 10 000 tons for Reading, structural material orders include 2 500 tons for New Haven at Providence, with Steel Corporation running at about 52 percent capacity and March seen as likely to rise from February.
MENTIONED IN THIS ARTICLE
Iron Age
Reading
New Haven
Providence
Iron Trade Review
Steel Corporation
Western Union Declares Stock Dividend for Quarter
The Western Union Telegraph Company board announced a quarterly stock dividend of 1 1 4 percent payable in stock, duplicating last quarter's dividend. President Clowry noted revenues fell versus the prior year but cost cuts boosted net revenue for the quarter to 666,937, directed toward reducing indebtedness from recent extraordinary expenses. Net revenues for the quarter ended Dec 31 were 803,945, down 812,848 from the previous quarter, leaving a deficit of 846,120 after bond interest and dividend payments and reducing the prior surplus to 14,077,080.
MENTIONED IN THIS ARTICLE
Western Union Telegraph Company
Wall Street
Clowry
Erie Railroad Notes Face Extension Talks Amid Market Confusion
Holders of Erie Railroad notes maturing April 8 were approached with proposals to extend them for about a year. The notes traded in a volatile market with bids around 89 and sales reported up to 95, as expectations grew that the issue outstanding at 9300000 dollars would be extended.
MENTIONED IN THIS ARTICLE
Erie Railroad
Erie
Jackson Ignores Inquiry on Ice Trust Quorum Dispute
The Special Grand Jury investigating the American Ice Company voted to continue its probe with or without the Attorney General Jackson and his deputies who had withdrawn over a claimed quorum issue. Justice Dowling advised proceeding, cited doubts about halting the inquiry, and the panel demanded clarity on witness access and juror presence as testimony resumed.
MENTIONED IN THIS ARTICLE
American Ice Company
Jackson
Justice Dowling
Supreme Court
Es Grand Jury
Jerome
Grand Jury
James W. Osborne
Ice Trust
Consolidated Ee
Knickerbocker Ice
Hudson River
Osborne
William B. van Ingen
John R. Bennett
Edward J. Cuddihy
Mr. Osborne
Maine
Cuddihy
Justice Dowlin
Greene
Ackson
Attachment Seeks Railroad Funds in Receiver Case
Deputy Sheriff Porges obtained a $1,003,295 attachment against the Western Maryland Railroad Company now in receivership, favoring Bowling Green Trust Company. The claim covers nineteen notes issued last year, with values from $15,814 to $112,655 each, unpaid at maturity. The Mercantile Trust Company held the road’s securities as attachment targets. A $4,000 Western Maryland bonds block sold at 63 to secure a loan of about $3,000,000 from Deutsche Bank of Berlin.
MENTIONED IN THIS ARTICLE
Porges
Western Maryland Railroad Company
Bowling Green Trust Company
Fitzgerald
Thompson, Vanderpoel & Freedman
Trust Company
Mercantile Trust Company
Exrae
Western Maryland
Deutsche Bank of Berlin
Tobacco Trusts Profits Report for American Tobacco Company
The annual report for the year ending December 31 shows net earnings of 227,371,019 an increase of 964,647 over 1906. The statement excludes undivided earnings of subsidiaries. Fixed charges left 21,817,003 available for dividends. A 25 percent common and 6 percent preferred stock dividend left a surplus of 7,035,057, which with prior surplus reached 37,088,045. Bonds were purchased and canceled, including 4 percent gold bonds costing 5,034,937 and 458,150 par value of 6 percent gold bonds costing 799,956. The board reduced from 28 to 27 members with B. N. Duke’s retirement. Thomas B. Yuille was elected to succeed C. E. Halliwell. All officers were re-elected except secretary Ww. H. McAllister, who was succeeded by J. T. Wilcox.
MENTIONED IN THIS ARTICLE
American Tobacco Company
Counny
B. N. Duke
Thomas B. Yuille
C. E. Halliwell
Ww. H. cAllister
J. T. Wilcox
Sloss-Sheffield Reports Earnings Rise at Jersey Meeting
Sloss-Sheffield Steel and Iron Company reported a preliminary year earnings of 1,779,673 for the year ended November 30, an increase of 464,873 from the prior year. Net earnings reached 1,672,286, up 461,443. Directors were re-elected and Henry Parsons replaced the late George B. Parsons.
MENTIONED IN THIS ARTICLE
Sloss-Sheffield
Sloss-Sheffield Steel & Iron Company
Jersey City
Henry Parsons
George B. Parsons
Also Mentioned on This Page
Bank of North America
Spigotty
Curtis Publishing Commpany
Philadelphia R Boys
Nick Meyer
18Th St
New York
Commerce Commission
Western Union
Brill Clothes
Brill
America
Brill Specials
Cravenette
Oxford
Rochester
Quiet Cage
Journeyman
Harlem
Broadway
N. Chambers St
425Th Street
3D Avenue
Union Square
14Th
N. B’way
Cortlandt
N. Greenwich
IGE Trust Inquiry
Linen Specialty House
Nineteenth Street
Thomas Nast
THE
Anderson Auction Company
Howard Building
Fifth Ave
29Th St
Maryland
Tobacco Trust
Directorate
Scott
Paris
American Thermos Bottle CO
California Fig Syrup Co
California
San Francisco
Cal
London
England
Louisville, KY
New York,ny
Uneeda Biscuit
National Biscuit Company
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