Cotton Trade Reform Sparks Debate at New York Exchange
Discussion raged among New York Cotton Exchange members over Herbert Knox Smith and Roosevelt report urging abolition of fixed differences in favor of commercial methods. Proponents cited stability and accuracy, while critics warned of losses and manipulation similar to Liverpool and New Orleans practices.
MENTIONED IN THIS ARTICLE
Herbert Knox’ Smith
Corporations
Roosevelt
New York Cotton Exchange
Smith
Samuel T. Hubbard
Exchange
New Orleans
Liverpool
New York
Findbard
Mers
South
Ny Exchange
News
Atwood Violett
Theodore H. Price
Mr. Price
Sharp advance in cotton prices on market day
A sharp rise in cotton prices occurred on the market yesterday amid bullish over-SungGay news and frost forecasts in the cotton belt. Early prices climbed 14 to 24 points, bulls placed large orders lifting the list, then heavy selling trimmed gains to a steady close, with July options leading the advance from opening near 71 to a close around 82, a 30 point gain.
MENTIONED IN THIS ARTICLE
Shorts
General Electric's Sixteenth Annual Report Summary
General Electric reports fiscal year ended January 7, 1918 with net profits of $6,556,522 on gross sales of $70,977,168. Dividends total $5,183,614 and surplus rises to $16,513,536. Sales have steadily grown over ten years from about $12.3 million to $70.98 million, with an 18.2 percent rise in the latest year. Orders in the first half rose 22 percent from 1917 while the last half declined 23 percent. Balance sheet shows cash $12.25 million, inventories $20.997 million, total assets $98.5 million, and liabilities including capital stock $65.17 million and substantial debentures. Cost of goods sold was $5.59 million, with $854,?% depreciation recorded.
MENTIONED IN THIS ARTICLE
General Electric Company
Snows
Shasse
ISM
Cop Pr
Buffalo
Rochester
Pittsburg
actuiitgReeees
Tate
Duluth
South Shore & Atlantic
Mexico
Soz
Colorado
Ce Inc
Inc
Enaan
Me Inc
Debdit Hidalgo & Northeasters
Sapenses
Delaware & Hudson
Molt Ss Inc
Coal Department
Dee
Bank seeks recovery in federal court over note held by bank
Julie Hough of the US District Court granted consent to sue Arthur Heinze of Heinze & Co for 810.60 on a note held by the National Bank of North America. The action arises from a plea by an attorney from Thomas E. Wing’s office and involves Receiver Hanna of the same bank.
MENTIONED IN THIS ARTICLE
Julie Hough
United States District Court
Thomas E. Wing
National Bank of North America
Hanna
Arthur FP. Heinze
Heinze & Co
City SELLS More Bonds at 3 Percent Interest
City Controller Metz sold 28 million dollars in six month revenue bonds at 3 percent to anticipate tax payments in October. Earlier talks for 40 million at 4 percent failed. Kuhn, Loeb & Co and Guaranty Trust each took 11 million, Goldman Sachs 2.5 million, with the rest to eighteen brokers. Banks say the rate is too low for investors though the issue signals improved markets.
MENTIONED IN THIS ARTICLE
Metz
Meiz
J. P. Morgan
Hetty Green
Kuhn, Leeb & Co
Guaranty Trust Company
Goldman, Sachs & Co
Wall Street
London
Paris
Kuhn, Loeb & Co
NEW U P BOND ISSUE AUTHORIZED BY UNION PACIFIC
Union Pacific stockholders meet in Salt Lake City to consider authorizing a 100 million bond issue backed by a mortgage on about seventeen hundred miles of unmortgaged road. The plan reserves funds for construction and acquisitions, with a 4 percent or 4 1 2 percent rate similar to the Pennsylvania loan, and includes ratifying the takeover of two smaller lines.
MENTIONED IN THIS ARTICLE
E. H. Harriman
Union Pacific
Salt Lake City
Harriman
Pennsylvania Loan
Pennsylvania Railroad
Leavenworth, Kansas & Western Railway Company
Topeka & Northwestern Railroad Company
Mr Fishes Resigns From Missouri Pacific Board
Stuyvesant Fish resigns last Saturday as a director of the Missouri Pacific Railway Company and as a member of the executive committee. His departure follows a year of anticipated active involvement amid press hints of broader Gould-Harriman tensions. Wall Street speculates on possible motives and lines of future affiliations in the railroad sector.
MENTIONED IN THIS ARTICLE
Stuyvesant Fish
Missouri Pacific Railway Company
Fish
Gould Road
Wall Street
George J. Gould
Union Pacific
Mr. Gould
Western Pacific
Pacific Coast Terminal
Oakland
San
Chicago Grain and Provisions Market Summary
Chicago wheat led gains on bullish statistics despite Southwest wet weather. July wheat rose to near 103.5, May and July futures fluctuated with mixed results. Corn and oats firmed, with May corn near 70 1/2 cents and oats around 47 1/2 cents. provisions mixed with lard and ribs higher late. Receipts included 33 cars Minneapolis–Duluth–Chicago and 8 local wheat, oats 1464, with tomorrow's arrivals forecast.
MENTIONED IN THIS ARTICLE
Chicago
Liverpool
America
Kansas
Nebraska
Sec
Minneapolis
Duluth
May
Wwe
Gdige
Sgc
Tee
Lee de Line
Hvehe
Judge Landis Fines Railways for Cattle Transport Violations
May 4. In ninety-five cases against six railroad companies Judge Landis in the U S District Court imposed fines totaling $12,180. The Chicago, Rock Island & Pacific led with 45 cases and $4,500. Chicago & Northwestern had 26 cases and $3,500. Illinois Central nine cases $1,100. Chicago, Milwaukee & St Paul seven cases $900. Atchison, Topeka & Santa Fe six cases $750. Chicago, Burlington & Quincy two cases $20. Most fines arose from guilty pleas, though Chicago & Northwestern pleaded not guilty.
MENTIONED IN THIS ARTICLE
Landis
United States District Court
Chicago, Rock Island & Pacific
Chicago & Northwestern
Illinois Central
Chicago, Milwaukee & St. Paul
Atchison, Topeka
Coffee and Cotton Markets Rally and Dip in 1908 Market Report
New York May 4 1908 coffee shows initial rise then steady with uneven demand amid moderate Brazilian receipts and a smaller world visible supply. Spot Rio No 7 6 61-16c. Cotton soars to up 20 plus points on short covering and hot trade demand, then trims gains. specs cite weak western weather, large near month buying, and nervousness over stocks. Market notes include European prices, US deliveries, and weekly Rio Santos movements.
MENTIONED IN THIS ARTICLE
New York
Havre
Hamburg
Rio
Santos
Sao Paulo
Rio No
United States
Rio An Santos
Europe
Cape
Germany
Bureau of Corporations
Liverpool
At & T
Shor
So & Vintant aAsen
Sige
Gulf
Mobile
Savannah
Norfolk
Baltimore
Augusta
St. Louis
Galveston
New Orleans
Charleston
Wilmington
Houston
Memphis
Cotton Exchange
Manchester
Kansas
York Produce Exchange
RYR
Kim Gried
Chicago
Broomhall Cabieigures
Minea Dp
Duluth
Cabies
Budapest
Kay Pee
Sida
Fer & Jin
Neve Es
Heastan Fiy
Anc
Wate
Maycorn
Missouri
New York May 4 1908 Produce Market Report
The New York market shows improving beans and peas with firm red kidney prices. Butter receipts 3,422 boxes. cheese and eggs steady with modest demand for old creamery and strong Western grades. fruits and produce follow steady to firm tones with apples strawberries oranges and pineapples priced per box or basket, hay and straw steady, oats and poultry activity moderate.
MENTIONED IN THIS ARTICLE
Cleo Oil
New York
Soos Ems
East
Aden
Philadelphia
Pennsylvania
Long Island
Bermuda
Charleston
Florida
Maine
State
Western
Jersey
California
North Carolina
South Carolina
Chicory
New Orleans
Horsera Western
South Ca
Baltimore
Norfolk
Canada
Timothy
Hma
West
Liverpool
Northern Spy
Haldwin
Tusset
Hoxbury
Lake City
Pac ‘Coast
Pacific Coast
Express
LIVESTOCK MARKET REPORTS AT JERSEY CITY AND PORTS
The weekly export totals show cattle and sheep moving to Philadelphia Boston Baltimore and other ports. Prices for native steers range 60 to 87 dollars per 100 pounds with dressed beef notes. Calves receipts reached 7,151 head over two days with Philadelphia and Jersey City yards active and small price advances noted.
MENTIONED IN THIS ARTICLE
Jersey City
Mixtieth Street
Fortieth Street
Lehigh Valley
Weehawken
West Shore Railroad
Seatte
Sulzberger
Bovic
Sul
Armour & Co
Philadelphia
Boston
Baltimore
Aca
Liverpool
London Cables
Cevie
J. Shamberge & Son
Schwarzld & Sulzberger
Kerns Commission Company
Ohio
Wton & Co
Pennsylvania
Chicago
Obin & Shannon
Indiana
S. Sanders
Shambere & Son
cPherson & Co
Kentucky
H. H. Hollis
Jelliffe, Wright & Co
40Th Street
At & Iitee
B. W. Otis & Co
Hollis
R. Hume
G. Curtis
Son
John P. Nelson
LS. Dillenback
Andrew Mullen
Tobin & Shannon
S. Judd & Co
Erne Commission Company
Kerns Commission
Obin Shannon
Dee
Market hog prices steady amid mixed demand in two markets
Reports show Pennsylvania hogs selling around 6 to 6 15 per hundred with varied lots. Prices fluctuated for light pigs and sows as buyers in Buffalo and Western markets noted softer demand. Firms such as W R Hume and Tobin & Shannon posted multiple lots ranging from 515 to 615 in price per hundred and accounting for roughs and stags.
MENTIONED IN THIS ARTICLE
Buffalo
Pennsylvania
W. R. Hume
guyPherson & Co
Penneylvenia
Tobin & Shannon
Market Report from Multiple Cities Includes Cattle Hogs and Sheep
Chicago reports active cattle with steer and cow ranges, hogs about steady to lower, and sheep steady. Cincinnati notes hogs quiet with cattle strong, at top bids around 6.50. East Buffalo shows mixed cattle demand, hogs down, sheep and lambs varied with market strength in springers. Kansas City lists strong cattle with top around 6.90 and hogs mostly 5.25 to 5.50, while Texas stockers appear in notes.
MENTIONED IN THIS ARTICLE
Telegraph
Chicago
Cincinnati
East
Buffalo
Kansas City
Texas
European Produce Market Report From Liverpool May Day
European produce prices firm across grains and fats with spot wheat steady and futures mixed. Corn and peas show parity shifts while beef and pork values stay strong. lard and turpentine ease amid generally subdued trading in London Pacific markets.
MENTIONED IN THIS ARTICLE
Liverpool
California
London
Pacific Coast
United States
Building Company May Resume Under Court Permission
Judge Hough in the United States District Court granted permission for submitting an order that could release J. C. Lyons Building and Operating Company from bankruptcy. The Now East 2d Street firm had filed for bankruptcy in October. Shortly after, Ernest C. Stedman, a lawyer and vice president, died after a fall in front of a subway tram on 14th Street. The plan provides creditors receive 8 percent in fifteen months and 9 percent in two years, secured by notes.
MENTIONED IN THIS ARTICLE
Hough
United States District Court
J. C. Lyons Building and Operating Company
East 2d Street
Ernest C. Stedman
14Th Street
Also Mentioned on This Page
Henry Hentz
General Electric
Seceiver Hanna
A. P. Heinze
U. P
MR. Fish
Missouri Pacific
Judge Landis
Railways
Oea
General Market Report
Jacconsecuess
Svs 3d
Cleveland
Northern
Produce Exchange
New _Orleans
Standard White
New K
Calcutta
Omaha
India
City
Sinc
Middle Western
South America
Continent
Brazil
Patna
Rangoon
Bassein
Cuba
Lyish
Kas
Do An
Vic
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