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Newspaper
Washington Post
Location
Washington, Washington Dc, United States of America
Date
Jul 22, 1907
Page
5
The article discusses a Dutch bank empire rooted in Amsterdam’s medieval foundation, claiming sole control of currency issue and a gold reserve, amid detailed, uncertain notes on financial practices, state influence, and historic banking lineage. Strong entities include Netherlands, Amsterdam, and mentions of gold reserve and monopoly.
A heated debate centers on the Public Printer and Stillings. Critics accuse him of being an open shop advocate and bullylike, citing strict rules and high salaries for clerks to justify opposition. supporters like Ryan defend changed orders on fines and claim promotions favored union workers. A nearly unanimous resolution condemns Stillings, with copies to President Roosevelt and Attorney General Bonaparte.
Miller dominates the riding field, defending last year’s champion title with four mounts, often finishing first and placing second or third. Tugan Tins shows early promise on metropolitan tracks, while Radke emerges as a rising star to watch.
Customs brokers organize to examine steamers for possible government transport use on the Pacific coast. Pacific Mail steamers Tremont and others inspected by government officers, with fifteen vessels slated for review, as part of potential chartering for wartime needs.
Members of the Government Printing Office Veterans Association and their friends spent Saturday afternoon at the Montgomery County fair grounds for the monthly summer outing. The group includes men who served in the XVI war and are now employed at the county printery. The next outing will be at Tan a Park on the third Saturday in August.
Five pickpockets faced Yorkville Police Court after Police Commissioner Bingham ordered the detective bureau to curb thefts at surface cars. Investigators report elevated trains have become a new field for theft, with Sundays yielding larger returns as nurses head to seaside. McMullan and others traced suspects to Forty Second Street on the Third Avenue elevated where Joe Goldberg and four associates were arrested amid a crowded platform.
About 46 000 workers across Mesaba Vermilion Megada gorges and Duluth area walked out over wage demands. United States Steel Corporation and independent mine owners faced a nationwide strike across Upper Lake Superior, seeking 9 250 a day for eight hours surface work and various pay scales for underground firing and other trades. Company officials refused to budge claiming a May a binding agreement ends Oct 1. Reports said some strikers tampered with mines and threatened to blow up a facility, amid tensions and failed compromises.
The German bank concession for Persia is approved for thirty years with capital set at one billion dollars. The amended terms omit objectionable clauses and refuse any special privileges. Parliament’s council of ministers and a special committee reviewed and struck out inadmissible clauses before acceptance.
A chaotic Valdez dispatch reports four men arrested on charges of illegal fishing by Japanese nationals. The Justice Department directs the case. the court, presided by Judge Wickerakum, will hear the proceedings with seized gear and alleged violations listed.
Special to The Washington Post York on July 22 Michael Watson a prominent Glen Rock citizen dozed and wandered onto the track of the Northern Central Railroad. He was struck by a 10am train while resting and died in hospital from his injuries.
London trading remained subdued as Wall Street oscillations kept investors cautious. Rio Tinto and De Beers shares were treated as speculative counters amid fortnightly settlement stresses, while Berlin and Paris markets showed holiday fatigue and general dullness.
The Bank of England increased reserve proportion to mobilities from 43.4% to 48% in a week, with annual changes and a broader rise since July. The discount rate is unlikely to fall from 4 percent as global capital demand stiffens, while Paris gold demand easing signals easing tensions in London finance. The article notes the reserve movement typically precedes August money movement to the provinces and highlights a robust London market with limited French gold demand.
A Washington to New York dispatch reports a meeting of United States Steel subsidiary presidents to be presided by William Corey who just returned from Europe. The event is a routine bimonthly gathering with no special significance attached and Corey plans to engage with corporate operations on his return.
New York July 1 reports show British railways expanding gross receipts with limited net earnings gains. Freight rose about 42 percent, passenger traffic 11 percent, total gross up 98 percent while rising costs, especially wages and coal, trimmed net growth. Lines serving manufacturing districts fared better than passenger-heavy routes like the Brighton line.
New York July 21 The market held gains over the past week with broad participation and renewed foreign borrowing via sterling loans. Exports of gold to Europe and pending bond disbursements signaled easing strain, while Wall Street saw gains driven by Hariman affair coverage and improved money conditions. Northern Pacific and related rails led advances as copper shares steadied after dividend actions, with expectations of rail and coastal development boosting sentiment.
A Nations Civic Federation review compares British municipally owned tramways with private US systems. William J. Clark argues private American traction outperforms British private and municipal systems, while Prof Frank Parsons defends British municipal ownership as superior in service, fares, and labor conditions, noting differing local contexts.
Special to The Washington Post. Johnstown July 2. Judge MW Keim and Scott Ebert closed a deal selling options to Somerset Coal Company of Baltimore on 33,000 acres of coal lands in Shade, Paint and Quedomining towns. Somerset Coal will lift the option at once at an average price per acre of 0, totaling 2,289.00 dollars. This covers nearly all coal lands in Somerset County not already purchased by large corporations.
Authoritative information from Mazatlan indicates the Mexican government will construct the Durango Mazatlan railway along a long touted route across the Terra Madre. The project, excluding track and bridges, is placed at 75,400,000 Mexican pesos with additional millions needed to finish the construction.
French economist Paul Leroy Beaulieu argues inflation has driven current investment weaknesses and that bank reserves cannot indefinitely support high money rates. He notes U S capital spending dwarfs domestic savings, predicting subsequent price drops in metals and other raw materials as credit tightens and capital redeploys.
The week shows a weak demand across the counts with railroads not buying. Two million tons of base iron were sold at a low price as producers cut values to spur activity. July deliveries and several large lots dominated by bessemer iron weigh on the market with reports of new sales and ongoing plant repairs.
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