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This newspaper page contains 11 articles. Subscribers can read the full text of each article.
Newspaper
Seattle Star
Location
Seattle, Washington, United States of America
Date
Dec 16, 1899
Page
4
Bullish plays falter after South Africa disaster and two Boston failures trigger a rush on the New York floor. Traders scramble for cover as prices plunge and liquidation worsens fears of a market crash. The chaotic opening follows weeks of weakness and renewed anxiety about a bottom.
The Kaiser plans a January 1 postal card display to honor the new century as secret talks with the Centrum party focus on backing the increase bill. High importance placed on Centrum’s stance, amid extortionate demands involving the Catholic Church.
A Manila telegram dated December 16 reports Gen. Smith noting uprisings in the mountains and Lu agents defeated. Aguinaldo’s terms of peace are mentioned as Congress may confer. Government overthrow feared, with columns suffering and many incapacitated during pursuit.
Fragmentary notes show a union committee instructing reflections on implementing a pension plan for miners. The item compares adoption of such plans in France Germany and England versus America, noting stronger parliamentary action abroad.
The senate and house debate reform measures with radical contrasts. The senate proposes increasing the gold reserve to 9156,000,000 and designates it as a trust fund, while the house follows the president and treats the reserve as a fund. The treasury secretary favors a division of issue and redemption, ignored by the house, with the senate offering mechanisms to protect the gold reserve and allow redemption of greenbacks through gold exchanges or deposits under existing law. The debate centers on whether to impound a separate fund and its effect on contraction risks.
The senate bill mirrors the house on declaring a standard value in mold dollars but diverges on debt payment. It preserves gold certificate rules with changes to denominations, requiring at least one-fourth of total gold certificates to be $50 or less and allowing $10,000 notes at treasury discretion if the same condition holds.
Chicago December 16 stockholders of Union Broom Supply Co held a secret meeting and fixed broom corn price at 200 dollars per ton. Stakeholders expect the price to rise substantially within a month as the company issues its first quotation on the supply.
In Boston, the Broadway National Bank was taken over by the comptroller of the currency after the Squires packing house made an assignment. Depositors, many with small sums, total at least $1,000,000. The clearing house met and decided not to help the bank, but will aid other banks with clearing house certificates to avert a wider financial panic.
General Lacret will travel to Mangilie tomorrow to supervise converting the River Canto into a canal system. If successful, ships of 2906 ton burden could pass from the north to the south coast.
Yesterday the county auditor logged numerous transfers with many buyers and amounts reported. Anson Harris et ux convey to Ira A Putnam part section 20 township 23 range 4 for 2.58 dollars, and Edward L Lindsley to Willam L Lindsley for lot 12 block 73 N Seattle qc for 1 dollar.
Notice announces a special stockholders meeting at the bank in Seattle Washington on January 17 1900 at the hour of o'clock p m to vote on adopting supplemental articles of incorporation and to repeal current bylaws and adopt new ones and to transact other business secretary James K Hayden dated December 16 1809
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