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Newspaper
New York Tribune
Location
New York, New York, United States of America
Date
Jun 06, 1911
Page
5
WN jpurgent loses bid for the presidency of the Exchange in a decisive vote. Regulars and leading members backed a rival candidate, reshaping leadership and policy direction for the organization. An earlier contest had signaled divisions, but the outcome consolidates the new administration.
George W. Sed regular candidate for president narrowly claimed victory with 399 votes, edging insurgent challenger Cone who drew 189. Post-election, board members Maren Cairns Moore Morison Postor Rich and others were seated, while reformers warned of entanglements and potential changes to exchange trading rules.
Fragmented report notes Worsted Mills and related firms facing open shutdowns and resumed operations. Mentions 250 cars, 23 000 tons of rails, and ties to Baltimore Ohio rails and United Armors agreements. References to power and transit connections in New York and Brooklyn, with hearings and franchise implications.
Washington June 5 reports that naval officers face retirement as a board of officers reviews who should be removed from active service Rear Admiral Richard Wainwright is among those aiding operations The list includes captains commanders and lieutenants with the board given the task of identifying physically and professionally fit officers for the retired list Orders issued detail transfers appointments and staff duties across army and navy units with several officers named for temporary duty and examinations
A description of a promotional event for Italian education appears. The meeting is organized under the Alliance for the Advancement of Education at a venue in Iowa, with references to tutors and several named individuals. The fragmentary text lists organizational ties and participants but lacks clear dates or outcomes.
New York markets report June 6 show cash quotations for commodities and produce with varied listings. Prices for meats and grains appear in fluctuating figures, including pork and beef notes, while fruit and vegetable quotes are scattered among mixed solicitations and buyer activity.
Market note on grain wheat with Missouri crop report figures, price trends in New York and Seaboard clearances. Mentions holiday effects, supplies, oats, corn, beans, and miscellaneous commodities with prices, receipts, and futures positions across multiple markets.
The grain and livestock section details seed prices and cattle and hog quote ranges. Prices show overall market strength with higher bids for bulls and a strong hog market, alongside wheat and corn price movements and regional trade totals.
An OCR based finance note lists earnings figures for multiple railroads including Detroit United, Norfolk and Western, and Burlington Northern. It cites May and April totals, with figures such as 1 008 697 and 12 823 408 for net earnings, alongside various daily and monthly totals, amid a fragmented compilation of numbers and railroad names.
Western cattle and hog quotations mix with erratic receipts and price swings. Buyers and sellers react to fluctuating futures, with heavy steers around 4 to 5 dollars, hogs near 4 to 5 dollars, and feed lot demand unsettled as spring markets begin.
The Clearing House Association yesterday admitted eight additional trust companies to clear through its system starting about June 1. The new members are Title Guarantee and Trust, Merchants Trust, Standard Trust, New York Trust, Lincoln Trust, Lawyers Title Insurance and Trust, and People and Franklin Trust of Brooklyn. Existing members include Guaranty, Bankers, United States Mortgage and Trust, Astor, Knickerbocker, Manhattan, Columbia, Brooklyn, and Fidelity. Metropolitan Trust and Nassau National Bank of Brooklyn were deferred for later entry. A chief examiner selection remains unresolved, with identity kept confidential.
Mutual Life policyholders faced a costly election as Sol Rosenblatt, a Chicago lawyer, appeared as an independent candidate. The petition drew 104 signatures, with about 6100 in election expenses, while officials expected only 1063 to 1000 ballots. Trustees elected included John J Mitchell and John G. Shedd, with Woodrow Wilson and Phillipps on the administration slate. Balloting was largely by mail and results would take days to finalize. The independent candidate posed little danger to the current administration.
Bethel Hetchel of New York Telephone warned that cutting Brooklyn Manhattan rates as required by the Public Service Commission could ruin service due to unprepared traffic growth. He said reductions must match added plant and facilities, with careful consideration of reversals and regional variation in business conditions.
United States nerl Corporation confirmed the acquisition of seventeen thousand acres from Pittsburg Cost Company and associated entities along the Monongahela River. Final papers expected this week with payments over about thirty-five years. Western subsidiary Carnegie Steel cut prices on structural and related materials in Chicago, while other reductions spread to northern districts. Orders poised to rise toward month end.
Prospects for steel production brighten as Varneem Steel and Jones & Laughlin resume operations. Several furnaces out of operation are now put to work and a large force of men are employed, signaling improved outlook after months of downtime.
The Philadelphia Transit Directorate saw leadership change today as five new directors were elected. Thomas B. Mitten directs the reshaped board with Drexel & Co figures and Widener ties. The overhaul aims to realign with Stotesbury interests and adjust labor terms affecting motormen and conductors. A wage increase plan proposes a half cent to a full cent per hour, with job adjustments pending.
Reports from leading copper mining firms deny formation of a copper selling company. The stock would be apportioned among principal producers by output for the year. Informed quarters expect a combination among major producers likely to be brought forward in the near future.
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