Wall Street shows historic volume as stocks plunge
Trading crowds crowd brokers offices as prices swing wildly 2 500 000 shares traded marking the day’s chaos. Declines dominate leading issues with Reading Amalgamated Copper and Union Pacific among the hardest hit. Money rates spike, margins pressed, and a bank relief plan discussed amid a wide selloff.
MENTIONED IN THIS ARTICLE
Shaws
Kettyes
Autontee i Lalimore Sid Unio
Ie Hirookon Tapid
Ceaosit
Pau
Reat
Titer -Worrapolitan
Aavtee Na
Sashevie Minoy
Pate Dintarto
Borfolk
Pennsylvania
Reading Rock Island
Sowthern
Union Paeite
Chicago
Northwestern
Copper Belxware and
Hudson Aynelers Sugarolorado Fuel
General
Electr Republic Lion and Steel
Union Paafle
Transac Jhona
MS To Mei
Slump at Philadelphia Stock Exchange echoes New York
Panic spreads from New York to Philadelphia as stocks tumble. Reading led declines in Deviaque price. United Gas Improvement dropped to 80 1 2. Cambria Steel to 21 4. Blacktil Storage to 471 2. Lehigh Valley and Lehigh Navigation also fell, with many stocks near their lowest prices in years. The close showed a near bottom, with marks near historic lows.
MENTIONED IN THIS ARTICLE
Philadelphia
Philadelphia Stock Exchange
New York
Cambria Steel
Lehigh Valley
Lehigh Navigation
Millions Poured Out Orders Unlock 71 Million Relief Moves
Secretary Cortelyou freed liquidity in New York by unlocking about 71 million dollars in Treasury actions. Banks could retain extra circulation while substituting bonds for public deposits and redeem up to 25 million in 4 percent funded bonds. The move aims to cushion stock market stress without setting a lasting precedent.
MENTIONED IN THIS ARTICLE
Cortelyou
Ots
Dastle
Wall Street
New York
Treasury
Secretary of the Treasury
Department
United States
Pee Eee
Secow
Treasury plan to redeem 4 percent bonds of 1907
The Treasury announces revival of retirement limits for bank bonds under the Aldrich act, with monthly retirements rising to nine million dollars. Banks to replace depository bonds. customs receipts shift to select cities. Immediate redemption of 4 percent bonds of 1907 offered up to 25 million dollars, with interest through July 1 1907.
MENTIONED IN THIS ARTICLE
United States
Thimney
Treasury
New York
Boston
Philadelphia
Baltimore
Chicago
St. Ls
Cincinnati
New Orleans
San Francisco
Buffalo
Cleveland
Syracuse
Roche
Pittsburg
Detroit
Plattsburg
Diatburg
Albany
Troy
Copper Stocks Drop in Boston Market Slide
Panicky trading hit the local copper stocks today with heavy volume as brokers piled in sell orders. Prices fell sharply through the day to new lows, money rates rose to around 4 percent, and several major issues declined, including Trinity, Osceola, Copper Range, Utah, Quincy, and Butte Coalition as remargin calls drove selling.
MENTIONED IN THIS ARTICLE
Boston
Mar
Trinity
Osceola
North Butte
Copper Range
Utah
Quincy
Tatharack
Butte Coalition
Thines Capital in Danger View of Government Control
Southern Ice Exchange delegates at its Atlanta convention adopted resolutions in alarm at national state and municipal actions against invested wealth and corporations. They condemned labour hour limits and employer–employee legislative interference as harming business confidence and labor quality. A copy was sent to President Roosevelt.
MENTIONED IN THIS ARTICLE
Atlanta
Southern Ice Exchange
Roosevelt
Miners Protest Seek Federal Rail Rate Review
President John Mitchell of the United Mine Workers W A A and W D Ryan of the Illinois miners group with Indiana Railroad Commission official Commissioner Wood left Indianapolis for Washington to oppose a 10 percent rate hike by coal carrying railroads before the Interstate Commerce Commission. The miners say higher charges will be passed to workers as operators cut wage scales to meet the increase.
MENTIONED IN THIS ARTICLE
Indianapols
Ind
John Mitchell
United Mine Workers of America
W. D. Ryan
Illinois Mine Workers’ Organization
Wood
Indiana, Railroad Commission
Washington
Interstate Commerce Commission
Conference in danger as McCrea resists invitation
Railroad leaders clash over a White House meeting set to discuss Roosevelt’s rail policy. McCrea says he will not attend without an invitation, while Harriman and other presidents push for federal regulation and further legislation. The administration presses ahead with its program and probes anti trust actions against the Harriman interests.
MENTIONED IN THIS ARTICLE
Harriman
H. Rogers
Rogers
McCrea
White House
J. Pierpont Morgan
New York Finankler
James McCrea
Pennaytveante
E. H. Harriman
Washington
Pennsylvania
Gov. Dineen
Brend
Ilinois
K H. Harriman
Interstate Commerce Commission
Hlinots
Tharreman and
Hig Associates
Chicago and Alton
Railways debate warns on stock watering and demand for reform
Cincinnati banquet speech warns that railroads are increasingly controlled by financiers, not operators, with watered stock worth billions masking real value. Gov. Smith calls for expanded Interstate Commerce Commission power, public rate oversight, and limits on ownership. He supports stronger regulatory action and cites La Follette as aligned with reform.
MENTIONED IN THIS ARTICLE
National Railroad Commission
Supreme Court Bench
United States
la Follette
Smith
Wisconsin
Senator la Follette
Mr. Smith
Weather Forecast For Friday Through Saturday
Weather conditions show heavy rains in the Ohio Valley Wednesday, none Thursday, with Gulf and Atlantis States receiving rain except the extreme Southeast. Snow in the Lake region and Upper Midwest, colder in the North Pacific coast and Atlantic regions, warmer in central valleys and West. Rain likely Friday in the South Atlantic and East Gulf, with showers in the Eastern Seaboard Lake region and Montana, continuing Saturday in two districts and parts of the Northwest. Winds on the New England coast brisk west to northwest, lighter along other coasts, with steadiest winds toward the Gulf and Michigan. Local readings list temperatures from mid-evening to early afternoon, with highs about 73 and lows near 46. Rainfall trace. sunshine 0 percent. High tide 9:52 AM, low 5:37 AM, sunrise 6:10, sunset 6:07.
MENTIONED IN THIS ARTICLE
Ohio Valley
Gulf
Atlantis States
Lake Region
Miasisaipp
Pavufia
Oho Valley
Middle Atlantic States
Gulf States
Upper Lake Region
West
South Atlante
East Gulf States
Sewer Lake
Montana
North Padre States
Rtates
Atlantic
Atantic
New England
Middle Antlantic
South Atlantic
Elorida
Gulf Coast
Michigan
Grand Banks
Also Mentioned on This Page
Herriman
London
Amalgamated
Anaconda, Smelters
Delaware and Hudson Sloss
Sheffield
Union Pacific
Anaconda
St. Paul
Great Northern
New York Central
Northern Pacific
Reading
Southern Pacific
National Administration
James Speyer
Spayer
Tressury Cortelyou
Herrimant
Southern
Yale
Rock Island
Souther
Alton
Afi. Harriman
Toell
Iirst
Frank Vanderlip
F. A. Wanderlie
National City Bank
IPA
la Price
Atlantic Coast Line
Vommeen
Baltimore and Ohio
Wena
Chicago and Northwestern
Missouri Pacific
Northern Pacifict
Paavo
St Pauli
Erie
City of
Treasury Department
Shaw
Secretary of the ‘Treasury
Thines
Bay
Penny
Thina
Department of Fusnce
Morgan
Knapp
Congress
Indiana
Iit
A. B. Buckney
Chicago Great Western Firesd
Yaats
Stickney
Panama
Paris
Hoke Smith
Cincinna
Ohio
Cincinnati Receivers and Shippers’Association
Harrison, Morgen and HI
Vanderbilt, Moores, Gould, Pennsylvania
Ckefeller
Publc
Peter Grogan
American Security and Trust Company
Charles J. Bell
Wm. A McKenney
Ward Thoron
Alfred B. Leet
Trust Department
Fifteenth and
Pennsylvania Ave
U. 3 Dept of Agriculture
Weather Bureau
Tauradey
Kenawha
Wheeling
Parkersburg
Tatler Place
Marfetts
Madison
Louisville
Evansevisle
Mount Carmel
Missouri
Jefferson
Oak
Sioux City
Towa
Bisquehanna River
Harrisburg
Aghaville
Nic
Atlantic City
Ismer
N. Dak
Mass
Chiehmastl
Ohioe
Cheyenne
Davenport
North
Ptnite
Nebr
Io Ordaha
Nebr Iy
Pittsbors
Galt Lala City
St. Louis
Cal
Springfield
Thee
Vicksbute
Mir
Berkeley Rye
St. N. W
Wilson & Mayers
G Street
Solia
Eran
Columbia Phonograph Go
F Street 8
Randle Highlands
Enyaette Area
Ay Company
Ih MO
Realty Company
la. Ave
Ps. Ave
N. W
Firemen’s Insurance
Belmont Dairy Go
Iain Oe
Taka Christian Xander
Traver’s Business College
Ith
Berlitz School
Pane Ee
Louis
Teres
Feachera
Lesser Press
Farina
Ginit Barloe
Ira Beans College
Indy