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Newspaper
New York Times
Location
New York, New York, United States of America
Date
Oct 13, 1908
Page
11
In a cautious dawn amid London strength traders hesitate before the open as they weigh potential Supreme Court gas case outcomes, Erie and other rails attract note, while speculative moves in preferred stocks and broker activity show varied sentiment and risk-taking across the Street.
Large Boston investors in Utah Consolidated Copper Company long tied to Rockefeller Rogers interests report Amalgamated Copper has sold most of its stock. Shareholders question the proposal to build a new smelter arguing costs exceed benefits and land options may be insufficient to shield from damage suits.
Early weakness in wheat followed by a drought rally in the Winter belt. Dominion Government thrashing returns place total crop at 115,651,000 bushels. Cash wheat in New York closed with No. 2 red at 81 to 133, No. 1 Northern Duluth around 4.4, No. 2 hard Winter near 1.10. Corn market remained dull with a mild decline. visible supply down by 42,000 bushels to 14,999,000.
Coffee trading was active yesterday with steady overall tone and a slight decline at the open. Spot Rio No.7 fetched 6 1 4 cents, with Hong Kong-style price movements alongside sizable weekly receipts of 509000 bags at Rio and Santos and 129556 bags in U.S. warehouse deliveries.
The report covers money and exchange figures with various loan and discount rates. It notes sterling and continental bill quotes, local bank changes since Friday, and exchange on New York Boston and Chicago markets with discounts and rates for several terms and instruments.
Bar silver quotes in Tondoh and New York are listed as 28-18-16d per ounce and alsse. Mexican dollars are priced at 45.
London stocks rallied on stronger European sentiment with renewed buying by bears and fresh investment. Paris led gains with euro markets firm as gold, Consols, and gilt edged securities moved higher on Paris support, while Russians and Turks gained 1 to 2 points and American issues opened steady before climbing.
The cotton market opened steady with prices little changed and bids near last levels. Reports that Lancashire workers might accept a 5 percent wage cut sent some upward tilt, but later cables showed no firm signs of acceptance, leaving prices largely unchanged across regions from Savannah to Houston with activity light in most centers.
The forecast lists fair conditions for most states with northeasterly winds in the south and southeast winds along the Gulf. Oklahoma Arkansas expect showers and warmer air with cooler trends. California not mentioned. Ohio Indiana Illinois Michigan Wisconsin showers and warmer with southerly winds. Minnesota showers and cooler with warm days.
Bradford Ellsworth shifts from Brewster & Co to Gue Wilmill & Co at 20 Broad Street. The National Lead Company consolidates general offices from 100 William Street to 111 Broadway. Stock transfers and communications go to 111 Broadway. Samuel C. Brown’s seat on the New York Cotton Exchange, from A C Brown & Co, sold at public auction for 10100 to Kerklotz Corn & Co at 15 Williford Street, up 400 from prior sale.
Local Colorado Springs exchange closes with bid and asked figures for several stocks and commodities. Notable entries include Isabella at 26 5/6 bid and 28 asked, Elkton 66 4/6 and 67, Gold Dollar 7 and 7 1/6, Portand 100 and 108, El Pass 39 1/2 and 41, plus others like McKinney 29 and 30 and Work 89 bid.
Charles W. Morse and Alfred H. Curtis face federal indictments for overcertification misapplication of funds and false entries at the National Bank of North America. Trial before Judge Hough opens tomorrow with a large defense and prosecutors presenting a broad case.
The Weekly statement of the Associated National Banks of Boston follows. Details of deposits, loans, and reserves are summarized for financial observers and local bankers assessing the city’s banking health.
A flood of incorporations across New York and nearby states is announced. Wetherbee Wood of Port Ewen Ulster County forms a hotel and real estate firm with a $125 capital. Fidelity Land and Mortgage and Interborough Estates set up in New York and Brooklyn with $1,000 and $150,000 capitals respectively. Directors include William Carme Herbert Harold C McCollum Mark M Solomon and others at multiple addresses in New York City and Brooklyn.
The Seaboard Air Line and Birmingham line discuss severance of width under the Atlanta division confusion. The Atlanta Birmingham Atlantic is not in default on bonds. the issue concerns the per cent bonus of the Atlanta Birmingham line, not the bonds of Atlanta Birmingham Atlantic with Seaboard.
A $25,000,000 Mexican irrigation loan has been placed with Speyer & Co with National City Bank joining in the purchase. Speyer & Co operate with associates in London Frankfort Berlin and Amsterdam. The bonds issued by the irrigation development institution are guaranteed by the Mexican Government and payable in gold for 35 years at 4 15 percent interest. Public subscriptions will be invited in the U S England Germany and other nations.
The bid and ask prices in the principal issues of short term notes at the close of the market were as follows.
A fragmented list of mining stock prices and tickers including Bullfrog, Goldfield, Mohawk extension, Blue Bell, Homestake, Montgomery, Diamondfield, and related quotes. Some entries show fractional prices and notes like extension, commissioner mentions, and miscellaneous symbols, reflecting a terse market update page.
An auction sale of stocks and bonds held by the estate of Walter L. Tyler at the Exchange Salesroom Vesey Street. The sale lists numerous bonds and preferred stock including Consolidated Gas Electric Light & Power Co. of Baltimore, Northern Pacific R R, Metropolitan Street Railway, and many others with various maturities and trustees, dated October 14, 1908. The sale is by order of executors and trustees.
Default on September 1 1908 interest prompts bond holders to form a protection committee. Deposited bonds with Knickerbocker Trust Company to receive transferable receipts. Committee members named including REMSEN LEAVITT MANICE and KIRBY with secretary PERRY at 55 William Street New York. Also Southern Michigan Railway Company trustee resigns effective December 26 1908. Sale of twenty Tenn coal and iron at 12350. Bonafide Times Square.
Jersey City police raided the Standard Stock and Grain Company at 7H Montgomery Street, arresting twenty seven telegraph operators, clerks, and office boys. Six telegraph operators and three office staff were detained as disorderly persons. bail posted for all. Complainant alleges swindle of 1400 dollars. prior raid and indictments referenced.
The unreadable passage lists many individuals, firms, capitals, and locations such as Keane, Mattilak, Litries, RaNTex, Dalene, Pars Keisy Dalene, Haim, MTSU, Mah, Levy, Newark, Speer, Tyran, and Charlies. It references estates, capitalization, and corporate roles with no clear narrative.
Dividend announcements from Twin City Rapid Transit, Farmers Loan and Trust, American Telephone and Telegraph, and several NYC firms. Payable dates range November 1908 with stockholders of record in October 1908. Meetings set for October 13 and 15 1908. transfer books close October 5.
Notice to stockholders that the National Railroad Company of Mexico will hold a meeting at its office in Shit Take, on Monday October 1 1968 at 1 PM to elect fifteen directors and transact business. The meeting closes at 2 PM on September 30 and reopens October 2. Also notice of a second meeting at 29 William Street to elect directors and transact business as needed.
Whitehall Street New York proposals in intrplicate for furnishing 247 224 rans ten iatynes cans peas 131 232. Information and blank forms furnished on application. Seals furnished on application. Bids marked for Subsistence Stores Opened 1908 and addressed to Colonel A I A CG.
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