Wild Flurry in Stocks and Northern Pacific Crash
New York May 9 stock market chaos intensified in early trading with Northern Pacific shorts forced to pay as high as 1000 a share in cash and widespread 60 point plus drops. Banks formed a pool to trim loan rates to 6 percent while Delaware Hudson and Standard Oil plunged. panic spread through brokers offices and streets as collateral shrank and liquidity tightened amid a record day of devastation.
MENTIONED IN THIS ARTICLE
Northern Pacific
Stock Exchange
Financial District
Produce Exchange
Savings Bank
Shorts
Wall Street
Delaware & Hudson
Manhattan
Rock Island
Union Pacific
Atchison
St. Paul
Missouri Pacific
Southern Pacific
United States Steel
The Northern Pacific Battle Shook Wall Street
A detailed account of the Northern Pacific corner and its ripple effects on the stock market. The piece explains how overextended speculation and margin calls amplified losses, the scramble of shorts, and the cautious moves by Kuhn Loeb Co Morgan and Harriman interests to broker a settlement. It notes anticipated terms around 200 for settlement and the broader railroad-politics implications.
MENTIONED IN THIS ARTICLE
Shorts
Kuhn, Loeb & Co
Northern Pacific
Harriman Syndicate
Union Pacific
Great Northern
Burlington
Harriman and Kuhn, Loeb & Co
Harriman, Kuhn, Loeb & Co
J. P. Morgan & Co
E. H. Harriman
Harriman
Street & Norton
Morgan-Hill
Morgan
Morgan & Co
Morgans
Enormous Shrinkage in Principal Stocks Reported
New York on May 9 reports a stock market review showing forty-one principal stocks at low-water prices totaling 698,854,07. The decline is largely offset by a late market recovery. Prominent stocks are cited with their low-water prices to illustrate the situation.
MENTIONED IN THIS ARTICLE
New York
Battle of Financial Giants Ends Night With No Settlement
New York May 9 Wall Street closed on a volatile day with Northern Pacific at the center of a fierce struggle. Traders anticipated a settlement agreement but no definite outcome was reached as the market ended.
MENTIONED IN THIS ARTICLE
New York
Wall Street
Stock Exchange
Wall Street Crisis Eases as Banks Rally and Call for Buy
A banker says relief actions lifted the market after a day of heavy losses. About 16 million dollars in loans were placed, with rates as low as six percent, signaling the storm’s end and potential steadying tomorrow. An industrial leader agrees the worst is over and foresees buying and a rally, while President Hill of Great Northern rejects stock control aims and confirms no recent trading in Northern Pacific.
MENTIONED IN THIS ARTICLE
Stock Exchange
Northern Pacific
Wall-street
the Tribune
Associated Banks
J. P. Morgan & Co
New York
Associated Press
Wall Street
J. J. Hill
Great Northern Road
Opening of Australia’s First Federal Parliament in Melbourne
Melbourne May 9 opening ceremony of the first Australian Federal Parliament drew 12000 at the Exhibition Building. Duke of Cornwall and York in admiral’s uniform opened Parliament via signal from a telegraph key, with Psalm 100, prayers, oaths, and cheers for King Edward VII. Royal party, officers, and dignitaries observed in regal pageantry.
MENTIONED IN THIS ARTICLE
Melbourne
Duke of Cornwall
York
Commonwealth
Federation
House of Commons
Senate
Order of the Garter
Duchess of Cornwall and York
Hopetoun
Earl of Hopetoun
China
Edward VII
Edward
Commonwealth of Australia
Hallelujah
Women Ask for Ballot in National Municipal League
Rochester New York May 9 The National Municipal League unanimously elected officers for the ensuing year President James C Carter New York first vice president Charles Richardson Philadelphia second vice president Samuel B Capen Boston third vice president Thomas N Strong Portland Oregon fourth vice president H Dickson Burns New Orleans fifth vice president Edmund J James Chicago secretary Clinton Rogers Woodruff Philadelphia treasurer George Burnham Jr Philadelphia George W Ochs Chattanooga Frank N Plum?
MENTIONED IN THIS ARTICLE
Rochester
N. Y
National Municipal League Today
James C. Carter
New York
Charles Richardson
Philadelphia
Samuel B. Capen
Boston
Thomas N. Strong
Portland
Ore
H. Dickson Burns
New Orleans
Edmund J. James
Chicago
Clinton Rogers Woodruff
George Burnham, Jr
George W. Ochs
Chattanooga
Frank N
Women Suffrage Plea At Convention Seeks Hearing
Hartwell Louisville and E M Thresher Day ton C elected to the executive committee A communication from Miss Susan B Anthony urged the league to favor woman enfranchisement An opportunity for Isabella Beecher Hooker to address the convention was unanimously agreed to Mrs Hooker urged suffragists and warned that without voting reform conventions would nominate bad men.
MENTIONED IN THIS ARTICLE
Hartwell
Louisville
E. M. Thresher
Dayton
Susan B. Anthony
League
Miss Anthony
Isabella Beecher Hooker
Expulsion of Italians In Kansas City Labor Turmoil
In Iola Kansas rioting driven Italians from town after assaults by American workers. Italian consul Fedoli warns incident could become international. Governor Sta nley pledges militia only on local request. Italians returned home. leaders arrested. conflict quelled.
MENTIONED IN THIS ARTICLE
Kansas City
Jerome Fedell
Iola
Kan
Fedoli
State of
Kansas
Lola
Count Roswadowski
Washington
Nob
Indemnity Claim of 450 Million Taels Reaches Court
Peking May 9 The Chinese plenipotentiaries received an indemnity claim of 450 million taels. Officials across the empire advise on funding options with some urging a foreign loan and others seeking internal financing to settle within five years. The powers’ ministers emphasize the amount reflects expenses and private claims, not a formal debt, guiding China on payment methods and potential reductions. Hui Ju Fen, former railway director, arrives en route to Peking as part of preparations for the court’s return.
MENTIONED IN THIS ARTICLE
Peking
Empire
Chang Chi Tung
China
Hui Ju Fen
Chinese Raiilways
Tien-Tsin
Kwang Su
U S Minister Conger Arrives in Washington for Brief Review
United States Minister Conger has arrived in Washington and is staying with a relative. He visited the State Department to meet acting Secretary Hill and Assistant Secretary Cridler. He plans only a few days in the capital to review dispatches between Washington and Peking and advise officials on overlooked details in the negotiations.
MENTIONED IN THIS ARTICLE
Washington
United States
Conger
State Department
Hill
Cridler
Peking
Chinese brigands attack French posts in Ling-San and Soogsung
An official dispatch from Pexing reports a Kwang-Si brigand band attacked the Ling-San post, killing five and wounding seven. They then hit Soogsung, suffering heavy losses with thirty-three killed, and were pushed back into Kwang-3i after May 2. ten French soldiers were wounded.
MENTIONED IN THIS ARTICLE
Paris
Pexing
Kwang-Si
Ling- San
Lin-An
Soogsung
Kwang-3i
Deutschland Sets Unmatched Daily Speed Record at Sea
The Hamburg American Line steamship Deutschland arrived in New York after calls at Hamburg Southampton and Cherbourg. It achieved a daily run of 587 knots or 676.61 miles from noon to noon, with an hourly average of 4.33 knots. This record surpasses all prior daily steam navigation marks and stands unique among vessels.
MENTIONED IN THIS ARTICLE
New York
Hamburg- American Line
Deutschland
Hamburg
Southampton
Cherbourg
Carrie Nation Leaves Jail After Bond Reduced
In Wichita Kansas Carrie Nation agreed to leave the county jail tonight following persuasion by her brother J W Moore of Kansas City He secured Judge Dale to reduce her bond to 100 and her brother posted the cash to meet it
MENTIONED IN THIS ARTICLE
Wichita
Kan
J. W. Moore
Kansas City
Mra
Carrie Nation
McKinley Heads Floral Parade in Los Angeles
President McKinley reviews Los Angeles carnival floral parade from a blue canopied pavilion with Cabinet members and Governor Nash. Dressed in an open carriage, he is greeted by curtsies and rose leaves tossed by cheering women as the procession progresses toward the reviewing stand. A morning visit to the National Soldiers Home near Santa Monica includes remarks to three thousand Civil War veterans.
MENTIONED IN THIS ARTICLE
Los Angeles
Cal
Nash
Ohio
McKinley
Pasadena
Santa Monica
Broadway
Pennsylvania Avenue
Washington
National Soldiers Home
United States
Grand Army of the Republic
Wilson
Charles A. Moore
Moore
Congress Mine
Arizona
Governor Nash
Laughlin
Also Mentioned on This Page
New York Exchange
Delaware & Fludson
Standard Oil
Northern Pacific Shorts
James R. Keene
Keene
Jon
Amal Copper
Atchison Commo
Ches. & Ohio
del & Hudson
Louis, & Nash
New York Cent
Au Quien Pacific
W & Steel
PAC “Io
Burlington & Quincy
Duke of Cornwall and York
Federal Parliament
Melbouene
Great Britain
God Save the King
Mrs. Hooker
Municipal League
Tofeka
Stanley
Sola
Allen County
President Weisley
The
Conver
Sation
Mrs. Fremont
Wid
Ow of
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