Wall Street Bull Run Prompts Cautious Debate On Public Role
New high stock records fuel bullish excitement while brokers question whether the public funds the rise. Union Pacific attracts heavy attention as talk shifts from new financing to asset segregation. Congress pace and currency bill prospects loom as traders expect emergency actions. Rumors of impending recession are debunked after market checks.
MENTIONED IN THIS ARTICLE
Union Pacific
Congress
House
Senate
Gold Shipments to Europe Reach 7.1 Million
Gold engagements for export to Europe rose to 7.1 million as steamer loads were arranged yesterday. Goldman Sachs & Co. supplies 1 million in coin and Heidelbach Ickelheimer & Co. 750 thousand in gold bars, with other banks contributing the rest amid strong exchange rates and a higher demand sterling.
MENTIONED IN THIS ARTICLE
Europe
Goldman, Sachs & Co
Sub-Treasury
Heidelbach, Ickelheimer & Co
Stock department report of opening high low and prices
Yesterday's produce exchange stock report lists opening high low and last prices for cobalt cent silver and various cananea and mint brokered items. Notable entries include Silver Pick 32 0 to 6 500 shares and Cananea at 8 50 to 9 50 with 6 200 shares traded.
MENTIONED IN THIS ARTICLE
Stock Department of the Produce Exchange
Sil.q. ‘Ltd
Nevada
Gr.Cananea
Merger Planned for Tonopah & Tidewater Railroads
Plans have been completed for a merger between the Tonopah & Tidewater Railroad and the Bullfrog & City field Railroad. The combined line will span about 190 miles serving Nevada mining districts and linking with the Atchison Topeka & Santa Fe system.
MENTIONED IN THIS ARTICLE
Tonopah& Tidewater
Bullfrog & City
2Field
Tonopah & If
Nevada
Atchison, Topeka & Santa Fé
First Security Company Organized From First National Bank
First Securities Co to organize today with capital raised to 10 million and to operate securities and banking functions. Directors include J P Morgan and James J Hill. management to be shared with the First National Bank, reflecting a shift of some operations to the new New York State corporation.
MENTIONED IN THIS ARTICLE
First National Bank
First Security Company
Secretary of State of
New York
George F. Baker
James A. Blair
Henry P. Davison
James J. Hill
F. L. Hine
A. Curtis James
John J. Mitchell
William H. Moore
H. C. Fahnestock
George F. Baker, Jr
C. D. Backus
First
First National
First National Bank of Chicago
W National
Foreign Marketes and London stock activity May 18
London reports steady discounts with £600000 in gold, profits in consols and rails. Continent buyers and New York opening lift Union Pacific. copper shares strong early, later softening on stats. bar silver at 24.5% per ounce. Paris and Berlin bourses show firm to weak shifts amid cross market influences.
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London
Stock Exchange
Partrio
Canadian Pacific
Grand Trunk
New York
Union Pacific
Berlin
Imperial Bank of Germany Weekly Statement Shows Cash Rise and Deposits Jump
The weekly statement from the Imperial Bank of Germany reports cash on hand up 50,128,000 marks, loans down 1,389,000, discounts down 14,101,000, treasury bills down 34,282,000, notes in circulation down 60,136,000, and deposits up 66,767,000.
MENTIONED IN THIS ARTICLE
Berlin
Imperial Bank of Germany
Illinois Central Plans Approved To Expand Capital
Stockholders of the Illinois Central Railroad approved the Directors plan to acquire the Kensington & Eastern and the Memphis & State Line Railroads. They also backed a 633 783 to 38 vote to raise capital stock by 285 120 shares to 123 552 000 to fund construction and maintenance of owned lines. Henry W. Leman opposed the increase to preserve his rights in a suit challenging Union Pacific stock in Illinois Central.
MENTIONED IN THIS ARTICLE
Llinois Central
Chicago
Tlinois Central Railroad
Kensington & Eastern
Memphis & State Line
Illinois Central
Henry W. Leman
Stuyvesant Fish
E.H. Harriman
Union Pacific
Cotton Market Shows Mixed Activity and Gains
Cotton futures were uneven with broad fluctuations and a final modest rise. Day sales reached about 225,000 bales as strong Southern spot markets and better dry goods demand boosted late buying. local and regional quotes varied with prices per month and regional spot sales listed.
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Aeng
Middle Upland
Midling Gulf
Savannah
Augusta
St. Louis
Memphis
Galveston
New Orleans
Charleston
Houston
Banks Agree on Merger of Riversidenk Northern Hamiltton
Stockholders of Riversidenk, the Northern Bank, and the Hamiltton Bank approved a three way merger at a special meeting with a unanimous vote. The merged entity will operate under the name Northern New York with capital and surplus above $1,000,000 and deposits totaling about $7,000,000.
MENTIONED IN THIS ARTICLE
Riversidenk
Northern Bank
Hamiltton Bank
Northern New York
Notice of Assessments for Chicago Railways Plan Securities
Holders of certificates under the May 27 1907 deposit agreement are notified that assessments under the October 15 1907 Modified Plan of Reorganization for Chicago Railways stock must be paid by June 17 1908. New securities will be distributed only after surrender and endorsement of certificates and payment of assessments.
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Ehe
Chicago
Title and Trust Aay
Harris Trust and Savings Bank
Farmers’ Loan and Trust Company
Chicago Railways Company
Chicago Title and Trust Company
North Chicago City Railway Company
Chicago West Division Railway Company
North Chicago Street Railroad Company
West Chicago Street Railroad Company
Pghicago Union Traction
Chicago Passenger Railway Company
Ateake Union Traction
Cuicago
Aor Trust Company
TEE. Harris Trust and Savings NK
W. W. Finley
Southern Railway Company
New York Trust Company
Southern Railway
Tennessee Central Railroad
Virginia & Southwestern Railway
Southern Railway Development and General Mortgage
Ral
Ater Railway Development and General Mortgage
Tennessee Central
Virginia
Southwestern
First Consolidated
London
W. E. Mandelick
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