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Newspaper
New York Tribune
Location
New York, New York, United States of America
Date
Jul 23, 1908
Page
3
Total dividend and interest disbursements in August are expected to reach about 60 million 28 thousand dollars, a drop from over 67 million paid in August 1907. Interest on railroad bonds falls by nearly 2 million due to defaults, while overall bond payments total 2 327 989 300 dollars. stock dividends amount to 624 million for railroads 292 million for industrials and 160 million for public service firms.
Westinghouse Electric shares jumped 15 points, closing at 77 with a day gain of 1. Other gains included New York Air Brake up 5 and General Electric up 4 to a yearly high of 145. Explanations cite expected reorganization approval on September 1 and a push to attract subscriptions to 6 million dollars of new stock, though a large short interest is also mentioned.
Plans to address maturing Wheeling & Lake Erie notes August 1 hinge on George J. Gould returning from Europe. bankers and Gould family reps held talks. options include Wabash Railroad direct action or exchange for new Wabash notes or cash. Market quotes at 98 and 1/2 suggest arrangements will satisfy holders.
A. N. Burbank, president of the International Paper Company, indicated yesterday a probable wage cut for August 1 ranging from 2 to 6 percent due to weak business. No action before a conference this week with employees. He blamed shift disparities and higher current wages compared with competitors paying for longer shifts. The firm recently enacted a general readjustment in New York management saving about 9 percent annually, plus smaller reductions for superintendents and foremen. Employees reportedly support the moves as necessary.
Wilmington Delaware July 22 Application was made to Judge Gray today by George W Pepper of Philadelphia receiver for the Bay State Gas Company for the discharge of the receivership. H H Ward representing the company joined in the application and asked that the assets be turned over to the company. The motion will be argued later.
Theodore Douglas reports Douglas Copper Company costs at Fundicion New Mexico remain near estimates with electrolytic copper cost about 1573 per ton after deductions and allowances. The report outlines ore value and potential net profit, while Mexican Exploration and Mining Company bonds offer 6 percent collateral trust convertibles. The firm expands operations across Sonora with new machinery arriving and smelter work proceeding, and rates and shipments to Goldfield and other points face regulatory adjustments.
Only about 600 in funds has been spent on the New York & Port Chester Railroad since its 1965 franchise, far short of the 80000 pledged. Mace Moulton, president and chief engineer, told Public Service Commission that construction has stalled after New Haven gained control of the Port Chester and its rival. Officials expect funds from New Haven and hope to resume along the New Haven route toward Mount Vernon before completing the original Port Chester Westchester plan. Charles S. Mellen of the New Haven line is expected to testify at the hearing on the stalled project.
Pittsburg report states that U S Steel executives will meet in New York at William Ellis Corey’s call to set plants in full operation soon. The firm already runs at about 60 percent capacity as orders rush in. In Albany, the Public Service Commission approved New York Central & Hudson River Railroad’s purchase of 63.54 shares of Little Falls & Dolgeville Railroad at up to $1 a share, leaving New York Central holding most of the stock.
Henry T. Safford resumes touring business as manager of the George E. Marsters agency in New York after five years in other transport roles. He has circled the globe nine times recently and made many trips for tour preparation. Mars ters firm operates a New York branch at 101 West 30th Street.
Wheat weakened on heavy selling with September near 9 1/2 cents, while oats rose and supported corn. Provisions opened firm then eased as shorts covered and cash wheat fell in Kansas City. Local receipts and strong hog demand supported parity. close figures show mixed declines and light gains across sectors.
The Iron Age notes slow uneven improvement in iron and steel markets with efforts to boom the business opposed by steel leaders. Prices firm for foundry and basic pig iron in several regions, with notable sales in Philadelphia and Boston and ongoing bids for Brookline, Havana, Dallas, and Delaware shipyards. The Iron Trade Review credits farming strength for iron demand, cites wage-scale peace, and warns miners’ strikes in the South dampen furnace activity while foundry grades hold firmer prices amid rising track repair work.
George Grant Mason, inheritor of James Henry Smith, has become owner of record of 183 and 185 West 55th Street, a 50 by 100 foot parcel purchased in 1898 by the late Mr. Smith. Deeds show transfer from William Smith Mason for nominal consideration and from the Smith estate executors for 125000 dollars.
Juline A Siebert and L M Bates appear in a legal notice tied to COMICONCAD proceedings dated July 9, 1006 and February 4, 1908, referencing Mutual Benefit Life Insurance Company and a listed dekson et al. dispute on the reverse page.
Marine intelligence page provides sun and moon times along with tidal high water predictions for Sandy Hook Governor's Island and Hell Gate. It lists sunrise at 4 40 and 90 minutes after midnight and sunset at 7 24. Moon rise at 1 02 with moon age 25. High water times: A M Sandy Hook 3 45 Governor Island 4 20 Hell Gate 6 15 and P M Sandy Hook 4 05 Governor Island 4 41 / Hell Gate 6 34.
The notice lists destination routes and sailing times for transpacific mails. It covers New York to New Zealand Australia excluding West, Samoan Islands, New Caledonia via San Francisco aboard Lord Sefton, America Maru via Hawaii and Asia, Empress of Japan via Vancouver to the Philippines and China, US Transport to Hawaii, Guam, Philippines, Mariposa to Tahiti and Marquesas, with July sailings at 6:30 p.m. and various via cities.
The Western Elevator Company of Winona Minn completes a major merger by acquiring the Northern Grain Company. The deal adds fifty five country elevators and two large terminals at Manitowoc with three million bushels capacity. Combined, storage reaches about seven million bushels across Iowa Minnesota South Dakota and Wisconsin. Estimated value exceeds $20 million.
Securities were auctioned yesterday by Adrian H. Mutler & Son under executors order. Multiple bonds and debentures including United States Reduction and Refining Company first mortgage bonds, Electric Cable Company Conn bonds, Lexington Avenue and Pavonia Ferry Company bonds, Southern Railway Company development mortgage bonds, and American Railway and Lighting bonds were sold. Also listed were Knickerbocker Trust Company certificates, Corn Exchange debentures, and various railway and trust company issues with specified amounts and terms.
Vessel arrivals list includes Campania Queenstown Bar arrivals with 211 cabin and 149 ec passengers, Atrato from Barbados with 61 cabin passengers, Curityba from Gibara, Oceanic from Southampton Cherbourg and Queenstown, Nicholas Canto from Port Antonio with fruit, Hamilton from Newport News, Panama from Cristobal, Gothland from Antwerp with 828 steerage, Hermione in ballast, Chester from Antwerp, Aragon Georgetown lumber, Sibilla Colon with 117 mail and mail notes, Guiana Demerara with 54 passengers, Iroquois from Jacksonville, Prinzess Irene Genoa Naples Gibraltar, Strathalian Shields, Boniface Manaos, F J Luckenbach Puerto Ponce and San Juan, plus a wind at Sandy Hook and sailing Mauretania and other vessels to various ports.
Involuntary and voluntary bankruptcies filed in the U S District Court include Samuel Semler dealer in races and trimmings at 1348 Fifth Avenue with $825 claimed, Anthony W Paulus a Poughkeepsie druggist with liabilities $4,097.52 and assets $1,021.10, and Harry Feller real estate dealer and contractor in the Bronx with claims $77,608. Conveyance to Phebe Elkan alleged fraudulent. Schedules show liabilities and assets for Eugene Bloch butcher and Gillies Press. Discharges granted to several, sheriff actions, and long list of mining company judgments and stock transfers to satisfy debts.
Shipping bulletin lists vessels sailing from New York and approaching ports in Europe and South America. Entries include Adriatic Gro five Br ships with Cherbourg Southampton routes, Ghazee Yokohama to New York, Corsican Prince via Rio, Strombus via Colombo to Calcutta, and Teutonic via Cherbourg Queenstown. Others show Berme sailors. sailings to Genoa Naples and more.
David Shhuldiner owes Brennesholtz a judgment filed on June 16, 1905. The case records show the debtor and creditor with the specific filing date as listed.
Ann Arbor area notices announce default on July 1 1909 interest for series 7 bonds. A committee of bondholders will manage interests and deposit with Bankers Trust Company by Friday July 24 1968, with certificates issued for deposited bonds.
New York July 22 1905 market report shows receipts of beans 1554 sacks and peas 1800. demand light with steady values. Beans assorted grades priced per bushel from 2.15 to 2.46 for marrow and related, peas around 2.70 for seedh, butter receipts 12000 pkgs with small gains noted. creamery specials 23c per lb, extras 72c, firsts 21-22c, seconds 20-7c, state dairy and process grades listed. Eggs receipts 17538 cases steady trade. graded stock selling 21-26c range, ungraded 15-16c, dirties and checks sell well. Fresh fruits and produce mixed. apples 1.50-2.50 per head, pears various, peaches Georgia Elberta and Maryland Delaware carriers priced, plums Maryland Delaware listed.
Trading remains slow across all sections with minimal improvement expected until new crops harvest. Pacific Coast prospects look good though late dry weather may reduce yield. berries such as currants and blackberries are listed by quart or pint with varied prices, and melons and pumpkins show mixed crate and per-car pricing.
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