Secretary Cortelyou announces another $45 million bank call
A July 2 notice states Secretary Cortelyou orders a further call on national deposits totaling about $45 million due by July 15. About 1,433 national banks are affected, with roughly 700 in the imprint, and some banks may transfer up to 60 percent of holdings to meet disbursing needs. The move aims to bolster Treasury liquidity amid a currency surplus. many banks hold cash to avoid a 1 percent currency tax. The plan expects depositories to return more than $6 million by July 15, with New York and interior funds enabling smooth repayment and ongoing Treasury replenishment.
MENTIONED IN THIS ARTICLE
Washington
Cortelyou
Treasury Department
Eery Corteliou
Congress
New York
Treasury
Secretary of the Treasury
New York County
Hamilton Bank of
New York City
Annie Linder
Exchange
Vesey Street
Manhattan
Citygand County
Joseph P. Day
Said Seortonce
Bronx
City of New York
North Melrose
Morrisania
Westchester
West Farms
Andrew Findlay
Office
the Register of
County of Westchester
Courtlandt Avenue
1834 Street
Louis Lese
Upreme Court
Ada L. Harris
Dwight M. Harris
Joseph H. Headley
Cyrus Field Judson
Joseph Leiter
Wellman, Gooch & Smyth
Wall St
Ity
NEW York Savings Bank
William Fellinger
James L. Wandling
Archibald M. Pentz
Hudson
West Point
Newburgh
Poughkeepsie
Hendrick Hudson
Albany
Mary Powell
Desbrosses St
Stmbt
Ramses St
SN. Y. Central
Camp Pub
Niagara Fall
Atlantic City
Thousand Islands
Thousand Hoa
Montreal and
Lakes
America
Canada
Trinidad
Quebec
Thos. Cook & Son
Broadway
Madison
Fifth Ave
Bond interest unpaid prompts trustee risk on railroad equipment bonds
The Mercantile Trust Company reports July coupon payments may be received today for Bush general mortgage bonds of the Pitts Wheeling and Lake Erie Coal Company, a Wheeling and Lake Erie subsidiary. Interest on $2,030,000 Wheeling and Lake Erie Railroad equipment trust bonds could default, risking seizure of rolling stock, though authorities doubt total default will stand and court permission may be sought.
MENTIONED IN THIS ARTICLE
Mercantile Trust Company
Cleveland
Bush General
Pitts- Wheeling and Lake Erie Coal Company
Wheeling & Lake Erie Railroad
Wheeling & Lake Erie Railroad Company
Wheeling & Lake Erie
Toledo, Ann Arbor & Northern Michigan Railroad
$3,000,000 Mine Swindle Charged
Indictments returned against W A Arms and Walter S Dillon in a case involving the American-Mexico Mining and Developing Company. Federal authorities allege fictitious dividends totaling over $249 and a chain of related misrepresentations. Mines are reported at Sierra San Lorenzo in Mexico with bogus assays and false books.
MENTIONED IN THIS ARTICLE
Ims
Aganst W. A. Arms
Walter S. Dillon
Mexico
Chicago
Consolidated Mining and Smelting Company of
Maine
Sierra San Lorenzo
State of Derenge
Earnings Fall Yet Surplus Remains High at Colorado Fuel and Iron
Colorado Fuel and Iron reports May surplus near 75000 dollars while earnings run 14 to 15 percent below the prior year. Director E T Jeffery says after all charges the figures hold, with cash in bank to meet August coupons and a comfortable balance afterward. Bengal Bank Again Lowers Rate P South Calcutta July 2 discount rate cut from six to four percent.
MENTIONED IN THIS ARTICLE
Colorado Fuel and Iron Company
E. T. Jeffery
Jeffery
Bengal Bank
Calcutta
the of Bengal
Preparations for immense summer traffic in plan
Preparations for summer movement anticipate four hundred fifty million passengers and a high share of last year’s total. The Pennsylvania Railroad has arranged to handle one million passengers and issued tariff sheets. Extensive correspondence and preparation work covered nearly one thousand stations and resorts across the system.
MENTIONED IN THIS ARTICLE
Pennsylvania Railroad
Ines
Pennylvania
Readjustment committee reports near full assents to Westinghouse plan
The Westinghouse Electric readjustment committee announces $9,770,862 of $10,000,000 in new assenting stock subscriptions from merchandise creditors employees stockholders and investors. It extends assent deadline to September 1 with conditions. bankers are urged to accept half claims in convertible bonds and the rest in notes or par stock. Wall Street sees the plan clearing obstacles and predicts a September 1 end to receivership with new directors and George Westinghouse directing management tradeoffs.
MENTIONED IN THIS ARTICLE
Westinghouse Electric and Manufacturing Company
Security Investment Company
George Westinghouse
Wall Street
Gas Company Victory in New York Supreme Court
Justice Erlanger sustains Consolidated Gas Company demurrer inAttorney General bid to annul multiple gas light franchises. Court rules state cannot challenge subsidiary rights as state, affirms suit not maintainable against corporations, and invalidates attempt to end company rights in the city pipelines. Judgment for the gas company.
MENTIONED IN THIS ARTICLE
Consolidated Gas Company
Justice Erlanger
Supreme Court
New York Gas Light Company
Manhattan Gas Light Company
Metropolitan Gas Light Company
Harlem Gas Light Company
Municipal Gas Light Company
Attorney General
Appellate Bonse Yn
Wellman, Gooch & Smyth
Joseph H. Hoadley
Henry A. Bischoff
Supreme Court of
State of New York
County of New York
County Court House
Borough of
Manhattan
City of New York
York Supreme Court
County OF Newn York
Gerald Hull Gray
Cyrus Field Judson
Wall St
New York City
H. Hoadley
Supreme Court of the
City of
New York
NN York Supreme Court
UN County
Fortuna Machine Company
Benno Fischer
Redding, Greeley & Austin
Park Row
Borough of Manhattan
Charles L. Guy
Railroad earnings across major lines 1908 balance sheets
A compendium of railroads reporting May and 11 month period earnings. Major lines include Toledo St Louis and Western Chesapeake and Ohio Interoceanic of Mexico Mexican International National of Mexico New York Ontario and Western Southern Pacific Union Pacific Colorado Midland Fort Wayne and Wabash Valley with gross earnings expenses and net earnings figures for May 1908 and year to date. Strong entities include the railroad names and the period metrics.
MENTIONED IN THIS ARTICLE
Toledo
Louis & Western
Chicago & Aston
Chesapeake & Ohio
Mexico
Mexican International
New York
Ontario & Western
Southern Pacific
Union Pacific
Colorado Midland
Fort Wayne & Wabash Valley
Dull Stock Exchange Opens Amid Weak Daily Volume
The stock market showed its dullest day in four years with total sales of 109265 shares, the second hour below eight thousand and only seven issues exceeding 2500 shares. Bond trading remained active at 2705000 dollars value, while overall attendance today is expected to stay light.
MENTIONED IN THIS ARTICLE
Stock Exchange
Union Pacific
Southern Pacific
Reading
Amalgamated Copper
American Smelting and Refining
Interborough-Metropolitan Common
United States Steel
Receivers Oust Norfolk Officials Over Railway Reorganization
Norfolk dated July 2 receivers of the Norfolk and Southern Railway ordered the dismissal of the president and three vice presidents and the secretary. Remaining officers include G. W. Riper and C. O. Haines with counsel seeking ancillary receivers. Plan of reorganization drafted, not public for 7 to 10 days, aims to avoid losses to security holders. The line totals about 700 miles, 600 in operation, with a major bridge project delayed due to funds.
MENTIONED IN THIS ARTICLE
Norfolk
Norfolk & Southern Railway
Frank Shannon
New York
M. K. King
G. W. Riper
Charles O. Haines
Raleigh
W. B. Gwyn
Asheville N.C
United States District Judge
Parnell
Fitzgerald, Kerr and Wolcott
North Carolina
Norfolk & Southern Railway Company
Trust Company of America
Norfolk & Southern Company
Albemarle Sound
Use of R R Tariffs Extended to October 1
Washington July 2 The Interstate Commerce Commission extends until October 1 the use of tariffs with long and short haul clauses maximum rules and alternative rate provisions by certain railroads. No other changes to the January tariff circular are allowed. After October 1 the commission will take necessary action against unlawful tariff use.
MENTIONED IN THIS ARTICLE
Washington
Interstate Commerce, Commission
Commission
Automobile Merger Reported Involving Buick and Maxwell-Briscoe
Detroit July 2 reports indicate Buick Automobile Company of Flint and Jackson plans a consolidation with Maxwell-Briscoe Automobile Company of Tarrytown New York An alleged move to bring other car manufacturers into the deal adds interest to the report
MENTIONED IN THIS ARTICLE
Tribune
Detroit
Buick Automobile Company
Flint
Jackson
Maxwell-Briscoe Automobile Company
Tarrytown
N. Y
St Paul Road Reports Prosperity
Milwaukee July 2 A Chicago Milwaukee and St Paul Railroad official said June passenger traffic was heavier than last year and freight traffic rose over 20 percent from May with July expected to rise further. He noted big manufacturing firms adding workers and seeking more cars.
MENTIONED IN THIS ARTICLE
the Tribune
Milwaukee
Chicago, Milwaukee & St. Paul Railroad
Also Mentioned on This Page
Cabes
Ary Cortelyou
Westinghouse
Victory
Justice
Irving Firmmn
Chambers St
W. H. B. Totten
George B. Dunning
Hle.tener,jr
Board of Trustees
Thomas M. Mulry
John J. Pulleyn
Sim
Inc
East River Savings Bank
Dick S. Ramsay
Chas. A. Whitney
Joseph Pool
Aly A
Gifford, Hobbs & Beard
Nassau Street
Guardian Trust Company of New York
Perner Mogollon Mountains Investment Company
Exchange Sales Room
Little Fannie Mining Company
Mineral Creek Milling Company
Silver Creek Mining Company
Mogollon Mountains Investment Company
Roy M. Robinson
Grattan Colvin
New Yorkity
Manhattan Savings Institution
Joseph Bird
Frank G. Stiles
Constant M. Bird
Ass’t
Seamen’s Bank For Savings
Savings Bank
George M. Halse Daniel Barnes
Y. Cashier
6Th Avenue
Greeley Square
Charles E. Sprague
Francis M. Leake
William G. Ross
North River Savings Bank
34Th St. Bet
6Th Aves
Samuel D. Styles
Frederick N Cheshire
Charles F. Turton
Union Square Savings Bank
Institution For the Savings of Merchants’ Clerks
No. 20
Union Square
Frank M. Hurlbut
WM. H. Rockwood
John T. Weeks
W. Emlen Roosevelt
Bank For Savings
Fourth Avenue
Walter Trimble
Charles A. Sherman
James Knowles
Dry Dock Savings Institution
Bowery, Cor
Andrew Mills
WM. F. Patterson
Charles Miehling
Greenwich Savings Bank
St. E. Cor
6Th Ave
St. Interest
James Quinlan
Anne M. Dutcher
Treas
R. J. Hampde Robb
Cer Eee Ae Bacon
German Savings Bank
Col
4Th Ave
14Th Street
Casimir Tag
GF. Amthor
The
Sunday Tribune
Charles H. Beckett
Dorothy, M- Palmenberg
Kett & Lang, Orneys
Executrix
Nassau Swebieek
Rush
Mary H
County of
Mary H. Brush
Brookline
Mass
Charles P. Latting
Pine Street
Frances A. Findlay
William M. van Buren
Executors
Pine St. N. Y
Glen Gnoko
Liberty St
A&a M
Lake Hopatcong
Lerse
Rey
Homer Ramsdell
Franklin ST
129Th ST
Dinnee
Orange Lake Park
Orange Lake
Bes Meny
Inl
Tride
Om Steamer
Glenwood
Orient
Pier & E. R
Hanover Sq “L” Sta
St. E R
Great Neck
James H. Breslin
George T. Stockham
Breslin
Wolcott
Thirty-first Street
Evelyn M. Breslin
Automobile Merger Reported
ST. Paul Road
Berlitz School
Madison Square
Harlem
Lenox Ave
127Th SL
Brooklyn
Court
Asbury Park
N. J
RYE Seminary
Oravian Seminary For
Bethlehem
J. Max Hare
D. D
Prin
Limaster
Whitehall Street
Philadelphia
Boston
WM. S& Patten
New Haven
Richard Peck
Pier
East River
Fall River Line
Sea Cliff
Sagamore
UEBEC
H. R. HM
Prince of Wales
Cook & Son, Ee Ae
Island Sound
Norwich
RED Bank
N. R
Highlands
Long Branch
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