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Newspaper
New York Times
Location
New York, New York, United States of America
Date
Mar 13, 1908
Page
11
Sentiment shows little material change over days with hope remaining. professionals may shift positions as headlines move markets. Brokers note client inquiries rise uptown while reflections on past panics mix with optimism. Union Pacific reforms, state and city bonds discussed as potential future drivers.
A stockholder suit demand seeks a legal action against H H Harriman and other Union Pacific directors to recover profits from stock sales to the railroad. The move, led by Lewis A. Storrs and others, aims to preempt changes as the Inter-State Commerce Commission investigates Union Pacific affairs. Harriman declined to comment.
Read & Co located at 43 State Street Boston appears in the item noting a listed business location or address. The entry records the firm’s placement in the city’s commercial directory.
WHEAT fell on bearish weather and crop news from the Southwest. Liverpool saw a 4d rise in May options while Paris and Berlin moved lower. Cash wheat in New York closed irregular with prices for No. 2 red at 90toC elevator and row boat terms. corn also declined with Liverpool higher on the day.
Special to The New York Times Albany reports the incorporation of multiple New York companies. Michael J. Adrian Corporation listed with $1,782,000 capital and several Adrian family directors. Winsted Company capital $125,000. J Hoare & Co in Corning with $100,000. Century Furniture in Jamestown with $60,000. Erie Basin Oil Company capital unspecified. Mercantile Adding Machine Company with $50,000. Niagara Coated Paper Company $35,000. New York Sanitary Egg and Poultry Company $30,000. Ballin & Co insurance $25,000. Schwarz Company jewelry boxes $25,000. and additional firms in real estate, mining, and manufacturing with small capitals. Directors named include numerous New York and New Jersey addresses, with several counties cited. Dissolutions noted for Transportation Company and Manufacturers Clothing Company with attorney Marcus Helfand.
Several New Jersey companies were chartered in Trenton with varied lines. Atlantic Cabot Ship Company of Atlantic City seeks steam vessels. A Wolfsohn Incorporated of Newark will manufacture umbrellas. Grand Central Beef Company of Perth Amboy to deal in meat and provisions. North Jersey Amusement Company of Hamburg to run amusement parlors. The Overbrook Company of Camden plans shoe dressing items. Philadelphia Veterinary Aid Association of Camden to supply medicines. Phoenix Investment Company Orange to deal in bonds. Trans Atlantic Speed Variator Company Edgewater to handle patents and trade marks.
National bank notes for redemption total 1 525 619. Government receipts from internal revenue 885 077 customs 850 173 miscellaneous 80 968 expenditures 2 140 000. Gold coin and bullion in reserve 150 000 000. Trust funds for redeeming outstanding certificates 832 070 969. Liver dollar amounts and related totals appear. Current liabilities 125 848 446.
President Stephen Baker of the Bank of Manhattan Company will return from Florida in about two weeks. The Osceola Consolidated Mining Company stockholders meeting is adjourned until April 30. William R. Corneliou, Harry and John C. H. Knebel are elected trustees of the Consolidated Exchange. John Bottomsey, VP of the Marconi Wireless Telegraph Company of America, is named a trustee of Empire State Savings Bank. The American Bankers Association Executive Council will meet May 5 and 6 at Lakewood New Jersey. Benjamin B. Thayer of Amalgamated Copper travels to Butte for six weeks. John D. Ryan of the Anaconda Company is in Butte.
State Controller accepts subscriptions for 4 percent New York highway improvement bonds. William A. & Co. offers the bonds to investors. Maturity runs to March with interest payable in March.
London money scarce yet demand good with quiet discounts. Stock Exchange settles with one small failure. New South Wales stock issue looms as consols lag near close. Paris upbeat aids foreigners and De Beers. American securities gain on Wall Street hopes for higher freight rates. Bar silver steady. money at 4.3 percent. ARIS reports firm Bourse prices on vices from Berlin.
London report shows total reserve up 972000 with circulation down 204000 and bullion rising 718209. Other securities 1040 rise and public deposits up 552000. Notes reserve up 919000 and government securities low in spirits. The week’s reserve stands at 49.59 percent.
Paris dated March 12 reports a drop in Francs in circulation by 87,125,000 and declines in Treasury deposits 7,975,000 General deposits 8,125,000 gold in hand 4,750,000 and silver in hand 0 from the Bank of France.
Cotton markets ended steady with a net decline of about 11 points after a day of quiet trade. New Orleans buying and better cables briefly lifted prices, but offerings rose and futures eased on unfavorable trade reports. Mill activity in Mississippi and New England indicated production cuts while Memphis, Birmingham, and Galveston reported little to no spot demand.
The American Agricultural Chemical Company declares a semi annual 8 percent preferred stock dividend payable April 15 to holders of record March 16. Transfer books close March 16 at 8 PM until April 1. Also near simultaneous notices from United States Steel Corporation and Colorado mining stocks announce annual meeting dates and closing book dates.
Proposals to buy in whole or part 1 million dollars of registered Baltimore City stock at four percent interest, redeemable 1954, delivery April 1 1908, bids due March 16 1908 at noon. Each bid must include 2 percent certified check. bids sealed to the President of the Board of Finance. The city will reject any or all bids. John M. Littig, President. Isaac News, Clerk.
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