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Newspaper
New York Tribune
Location
New York, New York, United States of America
Date
Jun 15, 1912
Page
5
A mixed digest covers Canada’s 1911 immigration costs and homestead entries, United Cigar Stores capital plans, Michigan railroad franchise approval, Panama Canal bond status, gold holdings drop at the Bank of Japan, and European money market activity. It notes wage comparisons, railway pay in several countries, and U S loan activity in Berlin as markets shift.
The Ohio Public Service Commission will consider plans to consolidate J Y Morgan & Co controlled Ohio telephone companies including Hell entities. Morgan interests own Cuyahoga, Columbus Citizens, Toledo Home, Home of Dayton, United States Telephone and more, with long distance reach across most counties and cities in Ohio. The move aims to unify rival lines under American Telephone and Telegraph, reducing competition and ending the dual system. stock actions include new 6 percent preferred and other securities to fund central improvements while timing for full consolidation remains uncertain.
The National City Bank, soon to be a centenarian, will host a bank club outing for 43 employees and their spouses at President Vanderlip’s Scarborough home. A circus and stage performances are planned, followed by an open air show and supper. A pension plan announcement was rumored but not confirmed. The piece traces the bank’s origin from 1820 and lists past presidents and directors.
International Nickel Sudbury Ontario reports ten years of corporate existence with strong earnings growth in the last three years. The company outlines vast nickel ore deposits, earnings before dividends, plant and mineral reserves usage, and substantial dividends and stock options amid expanding property and equipment. Total income over the decade and dividends to shareholders are noted along with stock subscription benefits worth about 1 million dollars.
The Grtenwicn sex ame Bank declares noni-annual interest for July at double rate, 4 percent up to 1,000 and 3.5 percent above that. Dry Dock Savings keeps 3.0 percent. Several banks previously raised to 4 percent, while German and North Sh Savings adopt 3 percent for now.
Hearings in the government dissolution case against United States Steel Corporation were adjourned yesterday morning after counsel reached an agreement. Jacob M. Dickinxen, counsel for the government, indicated the next session would likely occur on Sunday.
President Finley reveals bids for ten Pacific passenger locomotives thirty freight Mikado types with superheaters and a large fleet of passenger and freight cars plus five Pacific locomotives and four dining cars recently contracted. Rail orders include twenty six thousand two hundred tons of steel rails mainly for Birmingham, expansion of North Birmingham yard, thirty six miles of double track north of Atlanta and about twenty eight miles of it to be in service by June 38 to move this season’s peach crop. The Cincinnati New Orleans and Texas Pacific lines double track projects expand capacity from Erlanger to Williamstown and Toyce to Ciclo to ease train flows and car exchange with the Southern Railway at Harriman Junction. An Oakdale yard expansion adds capacity for 135 more cars.
Eastern Steamship Corporation takes control of the Dominion Atlantic Railway Steamship Company with three steamers Prince George Prince Edward and Boston. The acquisition financed by Hoxton and Yarmouth Steamship Company forms a Canadian holding and positions Eastern Steamship at center of all water routes between New York Maine and Boston provinces. Charles W Morse linked interests steer negotiations from Maine.
The market rose with renewed buying on reports of rain and short-seller nerves over the old crop. Prices advanced for October and December, closing near the highs, with mixed moves in southern markets and a steady overall tone. futures listed a string of higher quotes as traders weighed government reports and crop conditions.
Weather across the plains dampens the wheat market with prices slipping from Thursday’s highs. Soft winter crop conditions are excellent, while Kansas and Nebraska face large hard winter wheat prospects. Oats, coffee, and hogs show mixed activity as traders weigh European reports and domestic demand amid advancing and easing futures.
New York June 14 1912 grain markets show ongoing selling pressure with wheat closing lower by about 4 cents amid rain in Indiana Ohio and mixed European signals. Officials report Canadian acreage revisions and robust domestic and foreign demand influences while prices for wheat fluctuate across futures and cash markets.
Price listings and market activity for produce and livestock across regional markets. Includes commodities such as molasses syrup, various meats, dairy, eggs, grains, nuts, and fresh vegetables with prices, stock levels, and bidding notes. notes steady demand in cattle and mixed movements in fruits and vegetables.
Telegraph report from Louisville recounts cattle and sheep receipts for June 4 with mixed activity. Cattle receipts around 1200 to 2000 head, demand steady to lower. hogs strong to inactive. sheep and lambs show varied prices with best offerings firm.
Wheat prices eased under Patow influence with weaker demand and heavy trading. The market showed declines across spring wheat and winter rye with low points reached. quotes for corn and oats moved differently, but overall activity suggested cautious selling and reduced buying interest at key futures contracts.
News from June 14, 1922 reports the London tin corner effort by the Big Tin clique with prices rising. United States Steel Corp holds several thousand tons and has repeatedly broken the corner by selling to independents at lower prices, signaling intent to resume such sales if English prices climb too high.
The Boston wool market shows renewed activity in the western region with high prices persistently supported this week. Foreign and domestic wools move through the territory and new stocks enter, while overall prices edge lower. weekly receipts and sales figures indicate substantial movement from January through June, with foreign and domestic demand shaping the market.
The Misculi and Cracker Manufacturers Company reorganized its operating staff and elected new officers. Brooks Morgan of Atlanta becomes president, A. P. Streitmann of Cincinnati vice-president, W. M. Brownell of New York secretary, George R. Washburn of Brockton treasurer, and Cornelius W. Wickersham general counsel. Brownell will head the purchasing department from offices at 107 Hudson Street, New York.
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