New Bank Inquiry Spurs Brooklyn Financial Rebuild
Clark Williams prompts a state bank probe in Kings County into the Mechanics and Traders Bank collapse. District Attorney Francis X McCaffry leads investigations, with forgeries and linked transactions expected to surface at the next grand jury. Union Bank, chaired by Edward M Grout, plans a Monday reopening as a Brooklyn firm.
MENTIONED IN THIS ARTICLE
Clark Williams
State
Union Bank
Walters
Francis xX. McCaffry
Pat
Greene Jury
Feust
Williams
McCaffry
Wlliams
Mechanics and Trades Bank
New’s
New York County
Kings County
Benk
Creditors to Help as Pillsbury-Washburn Plans Provide
Advisory creditors committee to aid receivers of Pillsbury-Washburn Flour Mills Company proposed after Minneapolis St Paul meeting. Receivers A C Loring Charles Pillsbury Albert Cobb attended with lenders and brokers. Eastern bankers and Northwestern interests expected to join. aim to keep mills running and liquidate assets. An ancillary receivership was set for Minneapolis Northern Elevator Company. bond set at 150 dollars. Boston bill filed noting large monthly obligations vs 3.5 million in quick assets.
MENTIONED IN THIS ARTICLE
Minneapolis
Aussi
Pillsgery-Weshburn Flour Mill Company
St. Paul
F. A. Chamberlain
Security Bank of Minneapolis
Charles Pillsbury
Albert C. Cobb
Alfred F. Pillsbury
Ralph Whelan
London
America
New Jersey
Massachusetts
A. C. Loring
Charles S. Pillsbury
Albert ©. Cobb
Pillsbury-Washburn Flour Mills Company, Ltd
Purdy
United States Circuit Court
Charles K. Amsden
Henry F. Douglas
Minneapolis and Northern Elevator Company
Minnesota
North Dekete
Pillsbury-Washburn
Boston
Aug
Pillsbury-Washburn Flour Company
Rail freight rate increase in doubt amid rail opposition
Rail traffic officials doubt a 10 percent freight rate rise will occur soon as manufacturers oppose higher tariffs. Public filings and schedules are unlikely for some time while railroads push education campaigns. Some officials hint at a targeted, modest rise rather than a broad hike.
MENTIONED IN THIS ARTICLE
Trunk Line Association
Texas Railroad Commission
McCrea
Pennsylvania
Fred W. Upham
Illinois Manufacturers’ Association
Chicago
W. C. Brown
New York Central
Brown
Interstate Commerce Commission
Standard Oil party and Smelters stock transfer
The Tribune reported Standard Oil interests hold 20000 shares of American Smelting and Refining Company, in Wall Street names. The stock is expected to transfer this week to Standard Oil affiliates with Guggenheim involvement seen as likely. Journal notes say about 20% of Smelters shares may move to Standard Oil entities. The Guggenheims no longer hold a majority, but are believed to cooperate with Standard Oil's plans.
MENTIONED IN THIS ARTICLE
Tribune
Tandard
American Smelting and Refining Company
Wall Street
Standard Oil Party
Wall Street Journal
Ome
Standard Oil
Gugeenheims
Guggenheims
Railway to Hudson Bay survey planned from Winnipeg
A 100 man survey party starts from Winnipeg this week to map routes for a Hudson Bay railway. Four squads will test paths via Churchill and the Nelson River, with reports due to Parliament in January and construction possibly starting next year. The final route will hinge on cost and feasibility.
MENTIONED IN THIS ARTICLE
Hudson Bay
Winnipeg
Churchill
Nelson River
Port Churchill
Canadian Northern
Saskatchewan River
Fort Nelson
Outlook For 1908 Business Strong Despite Price Pressure
The Oil Paint and Drug Reporter editors say retailers should expect a strong year with soundness in small distributing trade. They cite surveys from heads of leading firms nationwide showing recovery from last fall’s stress with anticipated activity ahead. Prices remain a concern, but overall year-end volumes may approach 1807 levels as profits compress.
MENTIONED IN THIS ARTICLE
United States
Times
Mortgage Filed to Refinance Newark Breweries
A 1.5 million mortgage to Bankers Trust Co of New York by United States Brewing Co covers the Krueger Home Traft Hill and Hauck breweries. The bonds, bearing 6 percent interest payable July 1, 1928, were issued to repurchase stock held by a prior English syndicate, returning control to American interests.
MENTIONED IN THIS ARTICLE
Bankers’ Trust Company of
New York
United States Brewing Company
Newark
Krueger, Home
Traft, Hill and Hauck
Receiver for Cuban Eastern R R appointed by court
Vice Chancellor Walker appointed W Harris Roome of New York as receiver for the Cuba Eastern Railroad Company, a New Jersey corporation. The company must show cause on August 25 why the receivership should not be made permanent.
MENTIONED IN THIS ARTICLE
Tribune
Trenton
Walker
W. Harris Roome
New York
Cuba Eastern Railroad Company
New Jersey
Henry King Sturdee
Saugerties
N. Y
William B. Hatch
Arrochar
Stock Game Wealth Gap Narrated in Panic Example
The passage contrasts the Few amassing hundreds of millions from the Many via the stock game. It recalls last October’s panic when farmers could not obtain bank funds to move wheat, while Rockefeller and Morgan acquired vast sums to buy back stocks sold earlier at higher prices.
MENTIONED IN THIS ARTICLE
Rockefeller
Morgan
Plundered billions and the rise of a secret scheme
The author argues a few men have shaped the economy to siphon labor profits, turning the government into a fortress for privilege. He recounts a decades long plan to control the Bay State Company and leverage it with Standard Oil allies, detailing battles with Rogers and Rockefeller, and promising a forthcoming plan to reclaim public wealth.
MENTIONED IN THIS ARTICLE
Roosevelt
Equitable Life Assurance Society
Tom Ryan
Bay State Company of Delaware
J. Edward Addicks
Delaware
Addicks
Standard Oil
Rogers
Bay State
New York
Boston
Bay State Company
Rockefeller
Pennsylvania
Massachusetts
Irs
Pillar
Post
Latan
Pulic
Ocenion Rogers
America
The Stock Game Through Election Winds
Thomas W. Lawson argues the stock market will remain volatile regardless of the presidential outcome. He contends the Stock Exchange acts as a constant drain on public savings, with price swings continuing through any four year administration and election of Bryan Hisgen or Debs versus Taft.
MENTIONED IN THIS ARTICLE
Cleveland Democratic Times
McKinley
Bryan
Hisgen
Debs
Taft
Bar Silver Price Drops Amid Weak Demand and Low Market
Silver prices slid to 5 18 s per ounce the lowest since April 23 1908 with little immediate demand from buyers and markets in China and India showing a muted mood. Analysts expect a possible rebound if business improves and if Germany resumes silver coinage, though current conditions keep a buyers market.
MENTIONED IN THIS ARTICLE
China
India
Reichstag
Equity suit seeks sale of coal properties in Washington County
The New York Trust Company files an equity suit in County Court against Co Jutte & Co of Pittsburg. It asks for a sale of specified coal properties in Washington County to satisfy a $1,600,000 mortgage bond issue. It is alleged interest on the bonds has never been paid.
MENTIONED IN THIS ARTICLE
The
Cuba Eastern Railroad
Broqueren
Cuba
Guantanamo
San Pre
Cuba Hardwood Company
Northeastern
Benjamin P. Cheney
Washington, Penn
New York Trust Company
Co. Jutte & Co
Pittsburg
Petiioners
Treasury notes and gold reserves report details
Washington reports as of Aug 1 the treasury reserves and trust funds.Gold coin bullion values show large totals and outstanding certificates awaiting redemption. Silver dollars and general fund deposits are itemized with national deposits and Philippine treasury reimbursements pending.
MENTIONED IN THIS ARTICLE
Iscailaenes
Ava General Fund
Nat
Wool market improves with strong demand for fleece wools
Poston August 11 report notes improved local wool market, especially fleece wools, with active demand for one quarter blood and rising orders from manufacturers. Several fresh contracts and sizeable sales reported, including Oregon staple at 18c on secured basis. wide range of regional quotations for domestic wools and washed, delaine, and clothing grades across Ohio, Pennsylvania, Michigan, California, Oregon, and Texas.
MENTIONED IN THIS ARTICLE
Poston
Oregon
Ohio
Pennsylvania
Delaine
Michigan
Wisconsin
New York
Kentucky
Indiana
Missouri
Texas
California
Middle County
Valley
European produce markets in Liverpool trade notes
Liverpool August 11 closing prices show wheat and corn steady to strong with American futures quiet. flour dull. hops and meats firm, with Western prime beef and hams or bacon showing broad strength. Lard refined and oils steady, Canadian cheese prices firm, turpentine spirits steady, petroleum refined quiet.
MENTIONED IN THIS ARTICLE
Liverpool
California
London
Pacific Coast
Western
Las
Chicago Grain and Provisions closes firm on rising cash demand
Active demand in cash grains spurs a rally in Chicago and Southwestern markets. Wheat closes near its high with strong finish. corn gains unevenly while oats dip. Provisions rise modestly as stockyards see firm prices. Receipts vary by grain, with heavy hogs expected tomorrow.
MENTIONED IN THIS ARTICLE
Chicago
Liverpool
South Dakota
Wheat
Canadian Northwest
Kansas City
St. Louis
Sec
Bradstreet’s
Minneapolis
Duluth
Tsc
Also Mentioned on This Page
NEW Bank Inquiry
District Attorney's Office
Pillsbury, Company
Standard Oil Party and Smelters
Journal of Oil, Paint and
Newark Breweries
R. R
Jersey
Thomas W. Lawson
Foreign Government
Col
Gercons Stas
City of Man
Hess
Sax
Ber
Federal Treasury
Washington
Swartwout & Appenzellar
Pine Street
Am Cigar Co
Te] & Te Co
Coast Line
Ches & Ohio
Chic
RI & P Ry Ee c
Chic & W
Ind R Ripc
Cccés&St Lrrspc
Consolidated Gas Co
Interborough RT & Pc
Clehets A
KC Southern Ry
KC Ry
Seaboard
Southern Ry
Tidewater Co
Bae
U & Rubber Co
West'h Blec & Mfg Co
Ang
Buffalo
Rochester
Canadian Pacific
Terrace
Voolahoe
Southern
Denver & Rio Grande
Iowa Central
ST Louis Southwestern
Texas & Pacific
Wabash
American
Kan City
National Biscuits
American Shipbuilding
Metropolitan One
Nananiananreeed Commonwealth Falison
Swift & Co
Sears-Roebuck
Ee Teeeseeeneee
Apnea Trust and Surety Companies
al Ie Sineaace
Clinton Gilbert
Alliance Realty
Law of Co
Am Surety
Astor
Lincoln
Bankers Long
B & Mtg G Co
Mount Vernon
Bowling Green
Manhattan
Broadway
Mercantile
Stiegicommeniet
Brooklyn
Metrotan and Co
Carnegie
Mtge
Cas Co of Az
Morton Canadian Pacific
Central
Mutual
Canadian -Pacific
Cent City Co
Mutual All
City Invest Co
Nat Surety Co
Columbia
Sy Tre
Commonwealth
Y Mtg & Seo N Y Trust Co
Empire Tr Co
People’s
Aresis
Equitable Queens County Asaoc
Farm L & T
Realty Standard Trust
Av T
G & T Co
Flatbush
T I
Franklin
Fulton
Fidelity
Ava
Hudson Tr Co
Bkg Corp
Westchester
W&bt&mco
Knickerbocker
Chicago Grain and Provisions
Jackson Gas Se
Lafay Gas
L. & W Valet
Bingham
Mad CW
Buffalo Gas Space Bel
Mutual Essence
Ny&e R
Chic Con
Ohto & Ind Gas
Paterson & PG
Pitts
Denver Gas
Fort W
ING& Oss
St Paul Gas
Syra G
Indianapolis
Syra Lt & P
Ferry Companies
Sale Soest Ferry
Union Ferry Utes Ae
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