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Newspaper
New York Times
Location
New York, New York, United States of America
Date
Sep 10, 1908
Page
6
An advertisement promotes Holeproof Hosiery with a six month replacement guarantee. It claims savings in time and wear by avoiding darns, suits men and women, and touts six pairs for $2 with Brill stores as New York agents for the guaranteed hosiery.
The Stock Exchange Governing Committee heard the five member investigation into the August 22 trading spree that led to A. O. Brown & Co. ruin. It calls for drastic punishment and possible expulsion, with reforms including mandatory all-or-nothing bids and a stronger auditing panel. Charles B. Littlefield sought court orders to examine Brown & Co. records.
Special to The New York Times lists numerous New York and Brooklyn entities incorporated today including Bradley-Gaffney-Steers Company New York Alfalfa Farms Company and Levy Dairy Company with capitals ranging from 3 000 to 500 000. Directors span William Bradley James Gaffney Henry Steers Herman Raub and others with addresses in New York City Buffalo Rochester Brooklyn and Connecticut.
In Trenton on September 9 the following corporations were chartered in New Jersey with specified capitals and incorporators. National Patent Leather Company Newark $190,000 James A. Rowe Peter J. Dunn William E. Rowe. Century History Company Hackensack $25,000 Gustavus L. Burlew Alexander F. Burlew E. V. Getty. City Reduction Company Camden $50,000 J. Harris Reed Henry W. Cupitt Frederick H. Bellof. M. A. Metzner Manufacturing Company Perth Amboy $100,000 Maxwell A. Metzner Iver C. Ostergard Thomas A. Atherley. Motion Picture Patents Company Jersey City $100,000 Hugh H. Harrison George J. Macrae William H. Lane. The firms will engage in leather manufacture and tanneries, printing and publishing, mining, tile production, and motion picture film production.
The Iron Age reports eighteen more iron furnaces active by Sept 1 than Aug 1, with August pig iron output at 1,348,821 tons the highest since last December. Production is rising, though merchants see expansion as premature, and capacity on Sept 1 reached 313,112 tons weekly while railcar orders by Harriman interests total 5,100 units.
The foreign exchange market rose sharply as bankers estimate a further 50 point gain could enable profitable gold exports. New York buying exchange to cover last Fall’s one year warrants may be offset by cotton and produce bill offerings, costing the city money. The current rate implies an 8 1/2 cent loss per pound, with final losses tied to exchange movement before Nov. 1 when the loan matures.
Stockholders will meet to approve a consolidation with the Rio Grande Western involving 150 million dollars in first and refunding bonds. Bonds allocated 90 million to existing liens with 15 million notes partly secured by bonds, while the company reports 20.39 million dollars in gross revenue for the year and expenses of 13.04 million.
Wall Street tracked the Boston and Maine Railroad Company's sale of 7.5 million dollars of 314 per cent six month notes to Estabrook Co Kidder Peabody and R L Day. The notes were later resold at par to banks and investors. Funds finance four million dollars of one car notes due October 1 with initial maturity April 1 1909.
Ezra B. Tuttle unanimously chosen President of Williamsburg Savings Bank Brooklyn to succeed the late Gen Jeremiah V Meserole. Tuttle, a coal merchant, helped develop Brooklyn street railroads and has long served as a bank trustee. Cornelius H. Tibout is reelected Second Vice President.
The International Smokeless Powder Company directors raise the common stock dividend by 1 percent annually via a quarterly 1 percent payment, payable Oct. 1 to holders of record Sept. 19. A 4 percent semi annual preferred dividend remains payable Nov. 14 to holders of record Nov. 10.
Nathan Wolfsheimer a butcher at 975 Second Avenue files for bankruptcy with 1822 liabilities and 100 assets. Marks & Levin manufactures of women's underwear owe 3872 with 476 assets. Lawrence L Barnard a New Rochelle draughtsman files with 1410 liabilities and no assets. Eastern Marble Company sued by Michael Pilnacek for 705. Munoz Boiler Company liable for 75000 with 20000 assets. Richman & Greenfield builders owe 195051 secured by mortgages. Culgin-Pace Contracting faces over 50000 liabilities with 4000 transferred to Brennan security. Judgments listed against multiple individuals and firms with varied amounts.
Judge Adams in the United States District Court yesterday granted discharges to listed bankrupts including Jonathan T. Rider Hudson New York piano dealer liabilities 80978 and Marion A. Levy milliner 12909 with others such as Gutman Levy Co 54472 and Joseph B. Gross silk dealer 8888. The docket cites discharged debts and business titles across multiple professions and cities.
A creditors meeting for Solomon Urbach, once a wholesale diamond dealer at 47 Maiden Lane and bankrupt in 1906 after claiming a $40,000 diamond robbery on a Pullman sleeper, was held yesterday. Urbach, recently released from Ludlow Street Jail for eight months’ contempt of court, did not attend. about ten claims were filed and Job B. Hedges was elected Trustee.
Court calendar brief for Thursday September 10 lists Supreme Court Appellate Division and Special Term schedules with litigious motions, ex parte business, and adjournments. It covers City and Surrogates Courts, General Sessions parts with multiple defendants and attorneys, and receivers appointed in New York cases.
Judge Parker delays contempt proceedings against Samuel Gompers John Mitchell and Frank Morrison of the American Federation of Labor in the Bucksmete and Range Co case appointing an examiner Albert Harper to take testimony and granting thirty days to each side for the process. The request for a jury trial is withdrawn.
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