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Newspaper
New York Times
Location
New York, New York, United States of America
Date
Oct 04, 1908
Page
7
Traders watched London early trading for hints on local moves as Rock Island shares drew mixed reactions. A notable broker warned that election outcomes cloud reliable guidance and that no firm rule fits the current volatile climate.
The report lists the Treasury's condition at start of business with gold coin silver and various deposits. It notes the reserve fund balance and amounts in trust funds, refunds, and deposits in national banks, alongside liabilities and reimbursements awaiting settlement.
Special to The New York Times reports Boston stock trading for manufacturers including Waltham Watch, Nashua, Merrimac, and Mills showing varied activity. Prices and volumes listed for firms such as New Bedford and West Paint, with overall turnover modest amid market fluctuations.
Eight men aboard the thin masted schooner Grenada, led by Captain Watt of Brooklyn, faced a four day gale off the Sable Islands with no food or water. Lathes and cargo shifted, decks flooded, and sailors endured thirst, sharks, and freezing spray before a Manchester steamship spotted the wreck and rescued most men as others were cared for by the Seamen's Aid Society in London and Rotterdam.
Harriman plans to deliver an address around October 8 during the Western trip tied to the Trans-Mississippi Congress. The invitation and schedule were still being finalized as of yesterday.
London reported ample money supply with moderate demand and small attendance at the Stock Exchange due to a Jewish holiday. Consols and first-class securities eased on fears of a budget deficit while foreign and leading Kaffir and diamond shares stayed active. American securities rose to parity led by Union Pacific and Southern Pacific, prompting profit taking before finishing firm. Paris opened higher but turned heavy on Balkan news. Berlin trading remained quiet with weak prices.
The report records a drop of over 10 million dollars in bank cash holdings and a 7.75 million dollar fall in surplus reserves. Comparisons with the prior week and last year’s figures are provided for loans, specie, legal tenders, deposits, and reserves among Clearing House banks and state banks.
Wheat arrivals in the United States show a day of weakness with 325,100 bushels in transit and total stocks up 1,000,0400 bushels versus last year. Liverpool prices slip. cash No 2 red quotes around 1.04 to 1.05 dollars, with No 1 Northern around 1.47 fob. Corn also weak on favorable weather and news, with December futures near 7.23 cents and 7.03 to 7.23 cents for nearby bids. Local exchange quotes list varying bids and asks across Filkton, Isabella, El Paso, Portland and Rawlings.
The firm of Jones & Newine is formed as a general bond and investment business. Members listed as L. N. Jones Jr. and H. B. Newins. Escles of the American Smett ny have returned from my presie with suggested actions.
Albany reports the incorporation of multiple firms in New York with varied capitalizations and listed directors. Firms include Atlantic Steel Manufacturing Company with 290,087 capital and officers Ralph J. Sachers and Henry Kingsley. Royal Tone Company with 50,000 capital. United Stationery Stores Company of Mineola with 2 million? capital. Chevy Auto Cab Company in Brooklyn. and several other entities spanning construction, manufacturing, and real estate, with diverse addresses and governance listed.
The Italian colony of New York debates the arrest of Gae tano D'Amato, a former bootblack turned political figure, amid graft allegations. Friends and foes quarrel over his ascent from shoeshiner to Democratic organizer, with a graft hearing scheduled for tomorrow and claims of a personal appointment by the mayor.
The cotton market closed with a net loss as prices fell about 10 points from the previous session and traded roughly 40 points below last month’s high. Estimated sales for the fall session ran around 75,000 bales amid weaker dealer sentiment and improving southern weather.
In Grand Rapids Michigan October a court ordered temporary restraining measures in a Sherman Act related suit. Calumet & Hecla Mining Company and Osceola Company faced joint action by Albert here Mining Company. The court granted relief preventing Osceola from holding its annual meeting and Calumet & Hecla from voting its stock, a victory for Calumet & Hecla.
In San Francisco an official inquiry faulted captains Farfer Wamilton and Wagner for the loss of 11 lives in the Star of Bengal wreck. Towboat masters Haltie Gaze and Wayak faced charges of gross negligence and desertion as crew testified. Captain Wagner was ordered to swear charges before the Supervising Inspector, with potential manslaughter prosecutions for the accused towboats.
Fragmentary reading mentions Commercial National Bank Chicago, Lawyers' Title Insurance Company, and telephone facility upgrades. It notes connections to Cortlandt and Broadway area and references several banks and extensions, but specifics are obscured by garbled OCR.
The West Side Real Estate Association announces the fifth year of evening lectures led by Robert Simon and other specialists. Topics include individual questions on real estate law, operator methods, lending, brokerage relations, and urban development.
The New Jersey Exchange plans board meetings this month to discuss the Wickpreseasen and invites prominent figures to speak. Charles Wenkine, president of the New Jersey Waterworks Association, is expected to deliver the keynote address. The exchange backs a shore boulevard from Sandy Hook to Cane May.
The notice advertises a free stock report service for readers interested in stocks. It provides a mailing address at Marbridge Building, 34th and Preadeay, with a provided phone number and mentions Orphan Copper and Southern industrial references, though the text is garbled.
The annual meeting of Union Pacific Railroad Company will be held at its office in Salt Lake City, Utah on Tuesday October 20 at noon. Directors will be elected and actions include approval of a first mortgage and related financing to refund the company’s bonds, with discussion of purchasing the railroad and assets. Transfer of stock will be barred after September 14. Notices indicate exact dates, locations, and vote procedures.
An early 20th century banker's convention notice previews a full revert of the New York Times Weekly Financial Review. The issue promises affordable annual subscriptions and includes social issues as part of its promotional content.
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