Treasury calls on banks for forty five million to be paid by July
Secretary Cortelyou announced a further call on national banks for about 45 million dollars to be deposited with the Treasury by July 15. The move aims to fund government needs and manage currency surplus, with most banks able to meet the pro rata share. The government depositaries hold a small portion of deposits and must return funds if required. The purpose is linked to redeeming 3 percent bonds maturing August 1, though specifics remain undecided.
MENTIONED IN THIS ARTICLE
Washington
Cortelyou
Shrernoe Tories
Park Derociier
Lowe
New York
Treasury
Secretary of the Treasury
Bond Interest Unpaid Raises Questions at Wheeling & Lake Erie
The Mercantile Trust Company received word from Cleveland that funds were being sent to pay July coupons on the Pittsburg, Wheeling and Lake Erie Coal Company mortgage bonds. Interest on the Wheeling & Lake Erie Railroad equipment trust bonds may be in default, prompting court action and potential seizure of rolling stock to satisfy the lien.
MENTIONED IN THIS ARTICLE
Mercantile Trust Company
Cleveland
Pittsburg, Wheeling and Lake Erie Coal Company
Wheeling & Lake Erie Railroad
Wheeling & Lake Erie Railroad Company
Wheeling & Lake Erie
Toledo, Ann Arbor & Northern Michigan Railroad
New York County
Guardian Trust Company of New York
Mogollion Mountains Investment Company
Exchange Sales
Vesey Street
Borough of
Manhattan
Joseph P. Day
Little Fannie Mining Company
Mineral Creek Milling Company
Silver Creek Mining Company
Three Million Swindle Indicts W A Arms and Dillon
Federal investigators charge the American-Mexico Mining and Developing Company with a $3,000,000 fraud. Indictments name promoter W. A. Arms and manager Walter S. Dillon over fictitious dividends, bogus assays, and fake transactions linked to mines at Sierra San Lorenzo in Durango Mexico. Investors in Chicago sought refunds after weeks of alleged deception.
MENTIONED IN THIS ARTICLE
Czec
Aganst W. A. Arms
Walter S. Dillon
Mexico
Chicago
Consolidated Mining and Smelting Company of
Maine
Sao
Sierra San Lorenzo
Durango
Earnings Fall but Surplus Remains High at CFI
Colorado Fuel and Iron Company reports May surplus near 75 000 dollars, about 38 000 more than last year, with earnings 14 to 15 percent lower than a year ago after all charges. Director E T Jeffery notes cash exists to meet August coupons and a comfortable balance afterward. Bengal Bank Cuts Discount Rate to 4 Percent in Calcutta on July 2.
MENTIONED IN THIS ARTICLE
Colorado Fuel and Iron Company
E. T. Jeffery
Jeffery
German Savings Bank
New York
Cor
4Th Ave
14Th Street
Casimir Tag
G F. Amthor
Ready for immense summer traffic on rail lines
Preparations for summer travel are complete as railroads expect about 450 million passengers, over last year’s total. The Pennsylvania Railroad plans to move up to one million passengers and has coordinated tariffs and rate sheets across nearly a thousand stations and resorts through extensive correspondence with affected lines.
MENTIONED IN THIS ARTICLE
Pennsylvania Railroad
Assents Encouraging for Westinghouse M Manufacturing Plan
The merchandise creditors and other committees report total subscriptions totaling millions, with $5.6 million cash payable. Creditors offered half par value in convertible sinking fund bonds, plus notes or stock alternatives, aiming to boost cash working capital by $6 million. If terms aren’t met by September 1, reorganization or judicial sale could occur. Wall Street expects plan success and a new board with bankers. George Westinghouse to focus on management.
MENTIONED IN THIS ARTICLE
Westinghouse M Manufacturing Company
George Westinghouse
Wall Street
Gas Company Victory in Supreme Court Franchises Upheld
Justice Erlanger sustained the demurrer for Consolidated Gas Company in a suit by the Attorney General seeking annulment of several New York gas light franchises. He ruled that subsidiary rights are for municipal, not state, action and that the Attorney General cannot sue the corporations under the quoted code section. The court dismissed with 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
Upreme Court
New York County
Ada L. Harris
Dwight M. Harris
Joseph H. Headley
Cyrus Field Judson
Joseph Leiter
Wellman, Gooch & Smyth
Wall St
New York City
York Supreme Court
County OF Newn York
Gerald Hull Gray
Joseph H. Hoadley
Aah
H. Hoadley
Henry A. Bischoff
Supreme Court of
State of New York
New York Supreme Court
New York
UN County—Fortuna Machine Company
Benno Fischer
Redding, Greeley & Austin
Park Row
Borough of Manhattan
Benro Fischer
Charles L. Guy
County of New York
County Court House
City of New York
Railroad earnings report shows mixed gains across lines
A ledger of 1908 rail company earnings lists miles, gross and net figures for lines including Toledo St. Louis and Western, Chicago and Aston, Chesapeake and Ohio, Interoceanic of Mexico, Mexican International, National of Mexico, New York Ontario and Western, Southern Pacific, Union Pacific, Colorado Midland, and Fort Wayne and Wabash Valley. May and year-to-date periods are cited with gross earnings, expenses, taxes, and net earnings, highlighting variable profitability across carriers and time frames.
MENTIONED IN THIS ARTICLE
Toledo, ST. Louis & Western
Chicago & Aston
Chesapeake & Ohio
Mexico
Mexican International
National OF
New York
Ontario & Western
Southern Pacific
Union Pacific
Colorado Midland
Shigeee Ais
Asda
Inc. m
Inc
Belivenee
Fort Wayne & Wabash Valley
Fewest Stock Exchange Sales In Years Highlight Dull Day
Trading on the Stock Exchange was the dullest in four years with 109,265 shares changing hands, the lowest full-day total since March 10, 194, and even lighter in the second hour. Only seven issues topped 2,500 shares in five hours, while the bond market stayed fairly active at 2.765 million in value. The exchange plans to open today with expected light attendance.
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 From Norfolk & Southern
Norfolk July 2 receivers end service of president and three vice presidents of the Norfolk and Southern Railway. Plan of reorganization drafted, not made public for 7 to 10 days. Ancillary receivers appointed for North Carolina property as the seven hundred mile line faces funding gaps and halted construction.
MENTIONED IN THIS ARTICLE
Norfolk
Norfolk & Southern Railway
Frank S. Gannon
New York
M. Kk. King
G. W. Riper
Charles O
Norfolk & Southern Railway Company
Trust Company of America
Norfolk & Southern Company
Albemarle Sound
Use Of R R Tariffs Extended Washington July 2
The Interstate Commerce Commission extended until October 1 the use of tariffs with long and short haul clauses maximum rules and alternative rate provisions by certain railroads. No further extensions will be granted and after October 1 the commission will take necessary steps to curb unlawful tariff use.
MENTIONED IN THIS ARTICLE
Washington
Interstate Commerce Commission
Automobile merger reported by telegraph to The Tribune
Detroit July 2 report states Buick Automobile Company of Flint and Jackson plans consolidation with Maxwell-Briscoe Automobile Company of Tarrytown New York. The report notes possible effort to draw other auto firms into the union.
MENTIONED IN THIS ARTICLE
the Tribune
Detroit
Buick Automobile Company
Flint and
Jackson
Maxwell-Briscoe Automobile Company
Tarrytown
N. Y
St Paul Road Reports Prosperity
The Milwaukee telegram notes the Chicago Milwaukee and St Paul Railroad reports June passenger traffic stronger than last year. Freight traffic rose over 20 percent versus May with July expected to rise further. Officials say manufacturers are hiring more workers and seeking additional cars.
MENTIONED IN THIS ARTICLE
the Tribune
Milwaukee
Chicago, Milwaukee & St. Paul Railroad
Also Mentioned on This Page
Bengal Bank
Calcutta
the of Bengal
Westinghouse
Victory
Justice
Irving Sest
Chambers St
W. H. B. Totten
George B. Dunning
Hle.tener,jr
Board of Trustees
Thomas M. Mulry
John J. Pulleyn
East River Savings Bank
Broadway
Dick S. Ramsay
Chas. A. Whitney
THE
Manhattan Savings Institution
Joseph Bird
Frank G. Stiles
Constant M. Bird
Ass’t
Seamen’s Bank For Savings
Savings Bank
Daniel Barnes
George M. Halsey
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
Charlies F. Turton
James H. Breslin
George T. Stockham
Breslin
Wolcott
Thirty-first Street
Evelyn M. Breslin
Automobile Merger Reported
ST. Paul Road
Bexes
Berlitz School OF Languages
Madison Square
Harlem
Lenox Ave
127Th
Brooklyn
Court Bt
Asbury Park
N. J
RYE Seminary
J. Life
Misses Stowe
Oravian Seminary
Bethlehem
J. Max Hare
D. D
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
City OF
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 S. E. Cor
6Th Ave
16Th St
Jvvo
James Quinlan
Charles M. Dutcher
Treas
R. J. Hampden Robb
Francis M. Bacon, Jr
NEW York Savings Bank
N. W. Cor
14Th St
8Th Avenue
Trus
William Fellinger
James L. Wandling
Archibald M. Pen
American and Foreign Teachers Agency
Eoliezes
M Oj Young Fulton
Twen Square
Ee Ee
Sunday Tribune
Hamil— Ston Bank of
Annie Linder
Citygand County
Bronx
North Melrose
Morrisania
Westchester
West Farms
Andrew Findlay
Register
County of
Courtlandt Avenue
1634 Street
Louis Lese
Joseph Pool
Gifford, Hobbs & Beard
Plaintiff
A Street
C. H. Beckett
Oenotice
William F. Palmenberg
Sackett & Lang
Na Street
Dorothy M. Palmenberg
Executrix
Nassau Street
Rush
Mary H
Charles H. Beckett
Mary H. Brush
Brookline
Mass
Charles P. Latting
Pine Street
Frances A. Findlay
William M van Buren
Pine St
Eorene
Whitehall Street
Philadelphia
Boston
WM. S. Patten
New Haven
Pier 28
Richard
New Ye
Fall River Line
Glen Gnoko
Lake Hopatcong
Liberty St
Atlantic City
Hudson
West Point
Newburg
Hendrick Byboon
Albany
Mary Powell
Desbros
Desbresses St
Niagara
Thousand Islands
Montreal
Lakes
Canada
S&s
Trinidad
Quaman
Cook & Son
Proadway
Madison Ave
Fifth Ave
Newburgh
Homer Ramsdell
Franklin ST
129Th ST
Eninge
Orange Lake Park
Orange Lake
Mewberch
New Yorks
Ee Glenwood
SEA Gliff
Sagamore
Quebec
Prince of Wales
Norwich
ER & Haven
RED Bank Line
Franklin Stern Ally
Long Branch
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