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Newspaper
New York Tribune
Location
New York, New York, United States of America
Date
Jun 22, 1905
Page
32
Temporary receiver named as Pittsburgh banking firm faces collapse after forgeries in securities tied to a failed bank. President Moore assumed interim control amid depositor anxiety as assets included fictitious papers and forged collateral.
Philadelphia June reports new details in the Benjamin H. Gaskill case. Investigators say he borrowed over a million dollars using raised sock certificates from New York banks and trust companies, causing the City Free and Safe Deposit Company to close. Administrators estimate liabilities exceed assets, with securities and exchange seats valued at about 10600, and many creditors to share any recovery as scrutiny extends to other fraudulent papers across courts and banks.
Former chief of the Filtration Bureau John W Hill faced forgery charges as a jury heard testimony from Frederick Schaffhauser about inflated excavations and false entries. Contracts totaled 1 000 000 for excavations and 460 000 for pipe work with a 10 000 supplemental. Surplus funds were allegedly diverted and later questioned by officials. Mayor Weaver enlisted three expert accountants to probe the Bureau of Filtration accounts.
A divided group of savings institutions debates repealing surplus tax as the New Jersey Exchange Healthily forms. Leaders from Bowery Savings, Jersey City banks advocate keeping the tax while others push repeal. The exchange reports about 100 members with new officers and growth plans in Jersey City.
In Portion Oregon on June 2 United States Senator John I Mitchell was arraigned on charges of using his position for private gain in Oregon land schemes. The government outlined its case while attorney A Henpatt argued the Senator’s innocence, saying the only fault was altering an agreement with his law partner Judie Tanner linked to the fraud indictment.
The 12th annual Electric Traction red book for 16 has been issued by McGraw Publishing Company. It is the authority on financial statistics of American street railway companies, containing 415 pages, 33 more than last year.
In San Francisco today Thomas Lobb a maniac barricaded himself on the fourth floor of the United States Hotel after firing from windows and injuring two people. A large crowd watched as police and rifle team members attempted to breach the room. Lobb shot himself after a final assault from the rear and the scene closed.
June 2 reports the formal sale of the Epecuator Mine in Butte to Kountze Brothers Bank for 2.00 per share. Deeds of ground were turned over in New York to Joseph Cotten, attorney for the company, as part of the transfer.
Wall Street reports that Long Island Consolidated Electrical Companies may become holding company for Long Island traction stock. Pennsylvania Railroad and Interborough Rapid Transit join to acquire holdings while Consolidated would manage railway and electrical assets. Opening of New Bedford Line launches season with Maine steamer from Pier North Hero and L Hampshire week days. Deficiency judgments totaling 2450 against Claude W Mick for Jamaica Savings Bank foreclosure sale on Tilgate and St Nicholas avenues.
Miss Gould arrives at Peekskill State Camp with party of seven and F. W. Pearsall and George A. Sanford. Weather delays camp activities and bridge work while Young Men's Christian Association hosts lunch and tours. engineers outline field works and defense training for the 3d Battalion amid ongoing preparations at Annsville Creek and parade grounds.
Residents of Long Island City protest the renaming of Steinway Avenue to Ith Avenue, a change that erased a landmark linked to William Steinway who funded Steinway Village and worker housing. Community memory, streets and signboards shifted, triggering uproar over the loss of a historic name.
The Iron Trade Review reports rail mills renewing after long shutdowns. Carnegie Steel Youngstown works will resume July 1, boosting annual rail output to about 900000 tons. The Tennessee Coal Iron and Railroad Company maintains rail supply, with ongoing orders and shipments of ties and structural material amid steady demand.
The Board of Directors of United Gas and Electric Company of New Jersey declares a semiannual dividend of 24 cents per share on the prefrad stark, payable on duty 1s to stockholders of record as of June ay.
Obscure filing list shows New York City corporations including Treisadian Concrete and The Gothia Catering Company with capital notes. also mentions bankruptcy petition in district court with A Lange as petitioner and addresses in Madison Avenue. includes railroad commissioners meeting notice related to Interstate Commerce.
The ad lists deep discounts on Watsons fabrics and ready to wear items including dresses, silks, linens, and tailored suits. It highlights extensive markdowns on linens, lawn, and carnival wear with prices dropping from high to low across various garments and accessories.
Clearance sale offers reductions on a limited variety of leather items. Popular leathers are represented with a sale on wallets and women's goods. Prices range from a few dollars to around two dollars.
Import arrivals offer a complete line of latest patterns in portieres bamboo and beaded drapes. Prices include items like BAMANO AND ROPA PONTIFRES and ornamental curtains up to $7,988. Noted are gas bees and rich textiles with bold colorings suited for room styling and restyling.
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