Market reacts as dividend cuts weigh on Wall Street
The Wall Street scene shows a subdued close with traders noting the dividend reduction as a key factor in the decline. Activity reveals a mix of bullish talk and sudden selling by top traders who anticipated higher prices, while Washington politics and steel sector chatter provide faint influences. A bond market anomaly is raised by an investor contrasting slow bond activity with brisk mining stock interest despite weak broader demand.
MENTIONED IN THIS ARTICLE
Union Pacific
Washington
Congress
Esterday
York Times Agate Line Totals Reflect Ad Volume Shifts
The York Times reports 122,163 agate lines of financial advertising followed by 99,456 lines in the next issue, noting investors driven by the volume of display advertising. In 1908 February and Mary mark observed newspaper trends as circulation leaders.
MENTIONED IN THIS ARTICLE
York
New Haven Boston & Maine Merger Report Endorsed
Massachusetts Special Commission on Commerce and Industry approves a merger of the New Haven with the Boston & Maine with safeguards. The plan limits stock dispositions, prohibits rate increases, keeps offices in Boston, and requires state approval for any third party acquisition or stock voting.
MENTIONED IN THIS ARTICLE
New Haven
Boston & Maine Road
Boston
Boston & Maine
New York, New Haven & Hartford
Special Commission On Commerce and Industry
Massachusetts
Massachusetts Railroad Commission
Boston& Maine
Boston & Albany
New England
New York Central
Douglas
James R. Crozier
Anti-Mérger League
League
New Jersey Firms Charter Amid Industrial Growth
In Trenton on March 18, several New Jersey companies received charters. Listed are A. B. Baxter Company in Camden to deal in drugs. Carlton Realty in Rutherford for real estate. Hollywood Company in Lake Hopatcong to run hotels. J. B. Bunting Company in Orange as general contractors. New Jersey Specialty in Beverley to manufacture cooking utensils. Dean's Incorporated Bureau of Registry and Employment in Trenton as a mercantile agency. Automobile Parts Manufacturing in Newark to deal in and repair cars. Wattle Mountain and Milling in Camden to mine. B. M. Shanley Jr. Company in Jersey City to manufacture metal articles. Lackawanna Foundries in Jersey City to manufacture iron steel copper. North Jersey Realty and Development in Newark as general contractors. Each entry lists capital and incorporators.
MENTIONED IN THIS ARTICLE
Trenton
N. J
A. B.baxter Company
Camden
J. T. Hendricks
James
A. Blake
Frederick W. Fowles
Carlton Realty Company
Rutherford
John M. Bell
Horton H. Curren
Frank E. Graham
Hollywood
Lake Hopatcong
Philp
Saitta
Carl “Thiel
William L. Green
C. J. Be
Albert Hughes
General Mercantile Agency
Ce Automobile Parts Manufacturing Company
Newark
Incorporators
Millie Opal Pursell
Arthur Tod Pursell
J. M. Haldwin
Wattle Mountain and Milling Company
Camden: Capital, $500,000. Incorporators—Alfrmd J. Genner, John W. Clemens
Wilfred B. Wolrntt
B. M. Shanley, Jr
Jersey City
Capital
Bernard M. Shanley, Jr
Thomas F. Pryor, Jr
J. ¥. Clark
Lackawanna Foundries
Directors set to reopen Knickerbocker Trust on March 26
A committee of Knickerbocker Trust Company directors meeting yesterday began preliminary work for the March 26 reopening. The panel includes three new directors H L Satterlee Hinsdill Parsons and J Horace Harding with two veteran members F G Bourne and William A Turckes joining.
MENTIONED IN THIS ARTICLE
Knickerbocker Trust Company
H. L. Satterlee
Hinsdill Parsons
J. Horace Harding
F. G. Bourne
William A. Turckes
Financial markets steady amid hopes of rate cuts and budget
London sees demand after Indian loan call and optimism for BoE discount rate cut. Gilt edged securities rise as investors await a possible rate reduction and a strong budget. American market improves before drifting on dividend news, while Paris and Berlin report firmer trading and bank shares gains.
MENTIONED IN THIS ARTICLE
London
Bank of England
Stock Exchange
Paris
New York
Union Pacific
Sevler
Grand Trunk
Coffee market declines amid liquidation and dull close
The coffee market fell yesterday with light dealings of 12 250 bags amid liquidation and a dull close down 5 10 points. December prices fell 45 points from February highs as spot Rio No 7 held around 640. Port receipts totaled 24 000 bags, far below last year and two years ago, with season totals down sharply from 15 613 000 to 8 547 000 bags.
MENTIONED IN THIS ARTICLE
Havre
Hamburg
Rio
Santos
Jundiary
New York Central Lowers Dividend to 5 Percent
The New York Central trimmed its dividend from 6 percent to 5 percent, aligning with earlier levels from 1900 to 1906. The reduction follows higher fixed charges from new equipment bonds and a weak earnings year, with hopes for expense cuts and higher earnings improving net results. The 1.5 percent one quarter dividend becomes payable April 15, with books closing March 24.
Treasury at Washington Receives Bank Notes and Reports Fund Status
Government receipts tally internal revenue 551 598 customs 950 398 miscellaneous 95 165 expenditures 2 180 000. Reserve funds show gold coin and bullion 180 000 000 and trust funds to redeem outstanding certificates 894 428 869. Deposits in National banks 214 859 809 awaiting reimbursement 60 981 current habilified 125 163 287.
MENTIONED IN THIS ARTICLE
Washington
Treasury
Reserve Fund
General Fund
New York Incorporations List Shapes Busy 1900s Firms
Albany notices reveal multiple companies formed in March including American Fibroleum, Park Brewery, Elmhurst South Realty, Shortsville Wheel, Rapid Molding Device, Forty-sixth Street Hotel, Detwiller Vibrator, Caledonia Steamship, Swett Real Estate, Hollis Homes, Crescent Trading, Atlas Oil and Grease, Red Star Furniture, Sittmann & Suren, Gus Lind & Co, Beechwood Hall, Pitcher Drug, Henry's Express and Van, Duryea Normal School, Emergency Trunk and Bag, Saxe Laboratory, and dissolutions of Honey Dew Gum and Middle States Oil and Gas with attorney firms listed.
MENTIONED IN THIS ARTICLE
New York Times
Albany
American Fibroleum Company
Niagara Falls
Capital
Harvey V. Brown
Loring Avenue
Buffalo
Moses Arnson
Fifth Street
Herman J. Arnson
Cedar Avenue
Park Brewery
Brooklyn
Frederick W. Michler
West 148Th Street
New York
Benjamin Burstein
Pulaski’ Street
Elizabeth M. Burkhardt
Lincoln Place
Elmhurst South Realty Company
Port Ewen
Ulster County
H. Stewart McKnight
Arthur M. McKnight
Fifth Avenue
Newark
Shortsville Wheel Company
Shortsville
Ontario County
Clarence Heath
Sydney L. Heath
Charrles i E. Brown
N. Y
Rapid Molding Device Company
Erie County
Maulsby Kimball
Clifford E. Branch
B. Kerr
Forty-sixth Street
Eliezer Talk
West
Ninety-ninth Street
James T. Manchester
Fifteenth Street
Adolf Cohn
112Th Street
Detwiller Vibrator Company
Milton A. Powers
East Forty-second Street
Nathaniel F. Glidden
Frank A. Dearborn
121Street
Caledonia Steamship Company
Grand Island
Fiie County
John J. Boland
Adam E. Cornelius
F. L. Lawler
Tonawanda
West Sixtieth Street
New_ York
Clifford Chase
Forty-fifthh Street
George Creveling
Red Bank
Red Star. Furniture Company
Maurice M. Berger
St. Nicholas Avenue
Louis Spiro
Rochester
Monroe County
Homer Knapp
John H. Bailey
Herbert B. Cash
Pitcher Drug Company
Ward A. Pitcher
M. McL. Hunter
198Th Street
Briggs Avenue
Conrad N. Pitcher
West Thirtyeighth Street
Henry's Express and van Company
Abraham Henry
Jeanne Henry
Isaac Stone
West 140Th Street
Duryea
Normal School
Oscar Duryea
S. Marie Leonardo Duryea
Seventy-second Street
Agnes Geary
Rye
Westchester County
Emergency, Trunk and Bag Company
William R. Eck
Robert Zelter
East Fourteenth Street
Edward Hck
Twenty-fourth Avenue
Saxe Laboratory
G. A. de Santos Saxe
Laure G. A. de Santos Saxe
West Forty-fifth Street
Lucien Baer
West 122d Street
Trading in Baltimore Steady as Bonds and Stocks Hold
In Baltimore on March 18 prices were largely steady with minimal gains. Western Maryland Railroad stock rose to 8 1 2 percent, while bond sales showed modest activity across Baltimore City bonds and various utilities and bank issues maintaining close to previous levels.
MENTIONED IN THIS ARTICLE
Baltimore
Western Maryland
City
Coast L
Wil. Col. & A
Balt
City Pas
Las
City & Sub
N. Balt. Ry
Rya
Maryland
Citizens’ Bank
Commonwealth Bank
Maryland Casualty
Merchants’ Bank
Directors elect Hoffman to Lincoln Trust board
The Lincoln Trust Company Board elected Samuel Ver Planck Hoffman as Director. A Brooklyn quarte rly dividend of 5 percent was declared payable April 1. A New York Produce Exchange seat sold for 260 dollars, 30 dollars above the prior sale. Pennsylvania Railroad expands claim department due to Hepburn Act. Chicago Great Western stock terms extended to April 2 under a protective agreement. Edward B Smith & Co issued A Decade of Progress pamphlet on Pennsylvania Rail Road expansion since 1899. Consolidation Coal retiring directors re elected except three replaced by Watson, Grafflin and Winchester. New York State highway 4 percent bonds due 1938 settle March 19. New York Trust Company resignations and officer changes announced.
MENTIONED IN THIS ARTICLE
Lincoln Trust Company
Samuel Ver Planck Hoffman
Brooklyn
New York
Pennsylvania Railroad
Chicago Great Western
Bankers’ 1St
Stock Exchange House
Edward B. Smith & Co
Cassat
Consolidation Coal Company
Grier Hersh
Walter Miller
George von Lingen
Alexander §. Webb, Jr
Mortimer N. Bucker
Walter E. Drummond
Mr. Buckner
Securities at Auction Disposed at Exchange Salesroom
Securities auctioned at the Exchange Salesroom Adrian Muller & Son auctioneers included bonds and stocks from Simpson Securities, Union Typewriter, Yonkers Elevator, American Beet Sugar, Western Maryland Railroad, New York Mortgage and Security, New Amsterdam National Bank, Ohio and Little Kanawha Railroad, Sharon Railway, St Louis Iron Mountain Southern, Casualty, Fairchild, Century Realty, Wood Realty, National Copper Bank, Read Timber, Broadway Trust, Home and Albany Insurance, Amalgamated Copper, Northern Pacific, Southern Pacific, Carnegie entities, Merchants Exchange and Electric Boat among others. Bonds, preferreds, and common shares were sold with accrued interest and stated percentages.
MENTIONED IN THIS ARTICLE
Vesey Street
Adrian H. Muller & Son
Simpson Securities Company
Cor Trust Company
Simpson Securities Com
Union Typewriter Company Secon
1St Nation of NY
Pan Yonkers
Ares
Neoln Gas and Electri Company
Peoria Light Company
Ee Mare Travensville Light Co
Asville
Willo “Light Coe
Evansville
Ohio & Little Kanawha Railroad
Sharon Railway Company
St. Louis, Iron Mountain & Southern Railroad
Missouri Pacific
Casualty Company of America
Fairchild & Johnson Company
Fairchild Company
Entury Realty Company
Wood's Realty Company
National Copper Bank
Lvt
Timber and Lumber Company, Ltd
Broadway Trust Company
Home Insurance Company
Albany Insurance Company
Amalgamated Copper Company
Northern Pacifico Railway Common
Southern Pacific Railroad Common
Carnegie Trust Company
Merchants
Exchange
National Bank
Electric Boat Company
Carnegie Test Company
W. H. Bundy
Heying Company
Union Typewriter Company declares semi annual dividends
Jersey City March 18 1908 directors declare 3 1/2 percent on First Preferred and 4 percent on Second Preferred stock payable April 1 1908 to stockholders of record March 13 1908. Also notes dividend actions at Aetna National Bank Fourth National Bank and Guaranty Company of New York with respective payment and transfer book dates.
MENTIONED IN THIS ARTICLE
Union Typewriter Company
Jersey City
N. J
George K. Gilluly
Extension offer on Rock Island notes to 1909 with six percent interest
The Chicago Rock Island & Pacific Railway Company arranges with Speyer Co to extend notes to April 1 1909 at six percent interest with semi annual payments. Extension requires May 28 1908 stamping and a $5 per $1000 note cash payment. Extended notes secured by $9 million Rock Island Arkansas Louisiana First Mortgage bonds.
MENTIONED IN THIS ARTICLE
Messrs. Speyer & Co
Rock Island, Arkansas
Louisiana
R. R. Co
Pine Street
New York
Chicago
Rock Island & Pacific Railway Company
Dividends Declared by Union Pacific and New York Central
Union Pacific announces a semi annual dividend of 2.00 per share on preferred stock and a quarterly dividend of 2.50 per share on common stock payable April 1 1908 to holders of record February 23 1908. Stock books close February 26 at 3 PM reopen March 16 1905. New York Central and Hudson River declares a dividend of 1.25 percent payable April 1 to stockholders of record at close of business March 24. Transfer books close March 24 at 3 PM reopen March 28 at 10 AM. Frederick V S Crosby treasurer announces.
MENTIONED IN THIS ARTICLE
Amal
Pope
A.t.&s5s
Ohio
Brook Br, T
Can- Pac
Ch. & Gt
CM & St. P
Col. Fuel & I
Secur
Gt. North
Inter Met
Ill -Inter
Louis, & Nash
Tesse Oos
Pennsylvania
Rock Island
Rock Isl
South
Texas Pac
Union Pac
Comstock
Diam’ Field
ET Paso
Elktom
Isabella Sneer
Jim Butler
Kendall Oeeee
Lone Star
Ophir
Overman
Potosi
Sledte 2m
Sandstorm Ae
Tonopah
Union Pacific Railroad Company
Broadway
New York
N. Y
Frederic V. S. Crosby
NEW York Central and Hudson River Railroad CO
Edward L. Rossiter
E. W. Bliss Company
Borough of
Brooklyn
Howard Cleaman
Bowling Green Trust Company
William M. Laws
Buffalo Mines, Limited
The
George C. Miller
Dividend declarations and company notices in New York
The New York Trust Company declares an eight percent quarterly dividend payable March 1908 to stockholders of record March 28 1908 with transfer dock closure March 23 to reopen April 1. Acme Utility Company schedules stockholders meeting April 8 1908 to vote on dissolution. Niagara Fire Insurance Company holds annual meeting March 24 1908 at No 25 Liberty Street from 12 to 1. E Greenfield's Son & Co notes August Saril’s retirement and continuation as E Greenfield's Son & Co at 44 Barclay Street with Joseph Greenfield and Ernest Greenfield remaining partners.
MENTIONED IN THIS ARTICLE
Acme Utility Company
Levy & Rosenthal
Rector Street
New York City
The
North River Insurance Company
New York
William Street
F. H. Crum
Niagara Fire Insurance. Company
Liberty Street
Geo. W. Dewey
E. Greenfield
Names of Committee and officers listed in New York address
The record lists individuals William A. Read Edwin M Bulkley George P Butler Frederick Hwecker Frederick W Wiittridge and El Mowle with secretary role at 25 Nassau Street New York.
MENTIONED IN THIS ARTICLE
William A. Read
Edwin M. Bulkley
George P. Butler
Frederick Hwecker
Frederick W. Wiitridge
Also Mentioned on This Page
Wall
Brllishness
Cever
N. Ebody
Philadelphia
Delphia
Leder
Brookly Rapid Tran
Ambri Stee
Ennsylvania Gher Wee Too Lee
America
Ns. Col
North Amerl Dee
Wake Superior Corp
Ehigh
Valley
Mohs
Navtic
Arsden Co
Ennsyvania
Alt Co
Hiladelphia Co
Hiladelphia Electric
Ilapid Transit
Hiladelphia Trust
Eadin Neeeee
Ead
Plieswens
Ono Belmont
Onopah Mining
Tnion Faction
TOY
TOY T8% 78 - 2,1 Inited States Steel
States Steel Pf
Arwick Stee
Estmoreland Coal
Lawyers Title Insurance& Trust Company
Title Department & Trust and Banking Department
Montague Street
Edwin W. Coggeshall
Louis V. Bright
Oswald Stallenecht
Archibald Forbes
Herbert E. Jackson
Walter N. Vail
Lewis H. Losee
U. Condit Varick
Cawannna Actwmiry
David B. Ogden
Geo. F. Butterworth
Dumont Clarke
Edwin W. Coggeshal
Ur’ Ee Weee
Prederick D. Reed
William Day
William P. Dixon
Julian D. Fairchild
John T. Lockman
Henry Morgenthad
James N. Wallace
Incorporated
New Jersey
Knickerbocker Committee
Berlin
Foreign Public Securities
Saxony
City of Cologne
Munich
Augsburg
Frankfort
O-M
Consol
Loncomparidon
Lon- NY
Don
Equiv Ch
Atchison Ae Fe
Canadian Pacific
St. Paul
S. Steel
U Steel Pf
Consolidated Exchange
Jeruaery
Farmers’ Loan and Trust Company
Bishopsgate St
Within
Rue de
Financial District
Central
the Treasury Balances
Honey Dew Gum Company
Warner, Johnson & Galston
Wall Street
New
Middle States Oil and Gas Company
Frisble & Redfield
N. i
Financial Notes
Aetna National Bank
J. Dennison
Fourth National Bank
City of New Yor
Nw York
S Cectors
Charles H Patterson
Guaranty Oe Company
Questert
Hoebbard
Chicago, Rock Island & Pacific Railway Company
Geo. T. Boggs
Ass’t Treas
Speyer & CO
United Traction and Electric Company
Co. S. Sweetland
NEW York Trust Company
Broad Street
Board of Trustees
F. J. Horne
International As” Salt Company
International Sait Company of
Exchange Place
H. D. Fulliler
Copartnership Notices
Peahione Ae
Ddresa
Mead
Great Western
Bankers Trust Company
EL Mowle
Nassau Street
Joline, Larkin & Rathbone, Counsel
Eastern Railway Company of
Minnesota
Great Northern Railway Company
Messrs. Lee, Higginson & Co
State Street
Mass
Northern Division
Lee, Higginson & Co
Nassau ST
Chicago Great Western Railway Co
Aca8 & Committee
United Action Way
Abo
Guaranty Trust Company of
Trust Company
John W. Castles
Myron T. Herrick
Hugo Blumenthal
Alexander J. Hemphill
Fort Smith & van Buren Bridge Co
the Mercantile Trust Company
Gut Richards
Rawhide
Nev
Bensineer
Lox
New York Times Weekly
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