Steel prices stay up in unanimous industry stand
Forty steel manufacturers met at United States Steel Corporation offices and voted to maintain current steel prices. Led by E. H. Gary, the group rejected reductions as unnecessary, with a three month summer layoff planned and no expected price changes barring unforeseen events. The meeting followed strong export demand and Wall Street confidence in Gary’s price policy.
MENTIONED IN THIS ARTICLE
United States Steel Corporation
E. H. Gary
Steel Corporation
Gary
Wall Street
The
Waldorf
Williamsburg Trust to Resume Business Under Metropolitan Ties
Brayton Ives of the Metropolitan Trust Company will be elected president of the reorganized Williamsburg Trust Company at today's board meeting. J Edward Simmons of the Fourth National Bank will join as director along with KyKman. A two year voting trust will control about 3500 of 7000 shares as the plan seeks resumed operations by June 1. The plan, approved by Clark Williams state banker, involves a 1.5 million loan from Metropolitan with 6 percent interest and no bonus to Metropolitan, amid scrutiny by receivers and the deputy attorney general.
MENTIONED IN THIS ARTICLE
Brayton Ives
Metropolitan Trust Company
Williamsburg Trust Company
J. Edward Simmons
Fourth National Bank
Williamrs Trust Company
General Ives
Simmons
Kykman
Justice Kelly
Frank L. Babst
Augustus van Wiek
Kisselburgh
W. N. Dykman
Clark Williams
Ption
Williams
Metropolitan
Burlington Rules Push Corn to Market Amid Corner Rumors
Chicago rumors say the Chicago, Burlington & Quincy Railroad ordered traffic agents to rush corn to market to break James A. Patten’s suspected corner. W L Barnes cited market condition and town protection as reasons. May corn futures opened and closed at 77.4 in quiet trading.
MENTIONED IN THIS ARTICLE
Chicago
Chicago Board of Trade
Chicago, Burlington & Quincy Railroad
James A. Patten
Burlington Road
W. L. Barnes
Patten
Supe
Rail buyout eyed after sale auction plan announced
Baltimore reports the Georges Creek and Cumberland Railroad will be bought by Yen linked interests and convertible bondholders led by Alvin W. Krech, set to auction next month, signaling Goulds linking Western Maryland with Wakasi plans. Philadelphia notes Pennsylvania Railroad 3 percent dividend expands to 38,415 stockholders with $514,551.60 capital.
MENTIONED IN THIS ARTICLE
Baltimore
Georges Creek
Cumberland
Western Maryland
Cumberland Narrows
Pittsburg
Alvin W. Krech
Goulds
Maryland
Wakasi
Philadelphia
Pennsylvania Railroad
Bankers Association Elects Officers and Committee
The Group of the New York State Bankers Association elected James G. Cannon as chairman and B H Fancher as secretary. The executive committee includes William H Porter H M Kilborn HM P Davison E H Ferry Gates W MacGarrah Albert H Wiggin and Z S Freeman all holding senior officer posts at major New York banks.
MENTIONED IN THIS ARTICLE
New York State Bankers’ Association
Chaimain
James G. Cannon
Fourth National Bank
B. H. Fancher
Fifth Avenue Bank
William H. Porter
Chemical National Bank
H. M. Kilborn
National City Bank
HM. P. Davison
First National Bank
E. H. Ferry
The
Hanover National Bank
Gates W. MacGarrah
Mechanics’ National Bank
Albert H. Wiggin
Chase National Bank
Z. S. Freeman
Merchants’ National Bank
Canal Break Reopens After Weekend Closure
Rochester reports the Erie Canal break near South Greece was closed Monday night and water restored to the sixty mile level. The first boat since the accident passed Rochester this morning, heading west.
MENTIONED IN THIS ARTICLE
Rochester
Erie Canal
Greece
Japanese notes issued for South Manchurian railroad funds
London reports the Japanese financial agent has placed South Manchurian railroad notes totaling 10.4 million dollars with London banks at 5 percent. The notes will be issued to the public at a set rate and mature later this year.
MENTIONED IN THIS ARTICLE
London
London South Manchurian Railroad
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