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This newspaper page contains 12 articles. Subscribers can read the full text of each article.
Newspaper
Washington Post
Location
Washington, Washington Dc, United States of America
Date
Oct 31, 1907
Page
24
Long report describes Comptroller and Treasury actions on government bonds transfers between banks. mentions Cortelyou's push to stabilize finances, coinage plans, and coordination with banks, cotton prices, and regulatory discussions. Details stress preserving confidence, avoiding panic, and anticipated federal measures to support liquidity and trust reforms.
The article describes Treasury and Security Department actions amid a New York financial strain triggered by overexpansion and overvaluation of enterprises. It cites W Bloomingtals of Phoenix National Bank, President Roosevelt’s stance, and a probe into the actual worth of securities as central to restoring confidence across major cities.
A Southern bankers conference with Secretary Corcoran discussed inflation and currency issues. Key figures included Vicw President Sel Wooler of the Whitney Central National Bank and other New Orleans and New Orleans area bank leaders who indicated plans to resume talks today and expected statements on results.
Banks move to stabilize markets amid widespread buying by brokers and investors. Traders report increased call money and exchange activity, with heavy demand for odd lots and rising prices across railroads and industrials.
Cleveland October 31 iron trade review notes suspected reduced futpat Wil Wet fe for long period. Market varied botgaby retarded operations in the iron trade. General demoralization in Westinghouse interests and receivers plans. Officials say support will work out of difficulties soon without loss. Production curtailment expected for November. Edgar Thomson plant on short time, several furnaces preparing to burn out, but output reduction deemed temporary. Week quiet with weakness in Lowmbern product especially in Cincinnati district evident elsewhere.
Fragmented OCR text discusses testimonials claiming purity and wonder at a product. Mentions real liquid form or compressed tablets and references to a health claim. Language is garbled with unclear formatting and nonstandard wording. No clear names or dates emerge.
Readable fragments indicate no real shock to banks or commercial sectors. Officials note two cases of stock demand rising for repairs after earthquakes, while authorities unlock 721000 paper guaranteed by deposits and a 60 million paper loan to stabilize euro markets. London quotes Chilean five percent bonds as markets reassess.
Givent Company’s president Elles Peo four as protective masseuse Dayine Ole and others report a receiver appointment by the Common Pleas Court after a petition alleging a $1,000,000 debt, $909,000 secured against notes, and tightening money markets. The court says the receivership shields property from creditor attack while deeming the company solvent.
An official circular announced by H F Mitchall, traffic manager of the New York Central Lines, states Merchants Despatch Transporter Co is purchased, with all property and franchises transferred. This marks the end of its independent transportation identity and integration into New York Central.
A cascade of bank closings and holiday proclamations hit Washington Oregon and nearby states as deposits flee amid stress on strong institutions. Officials including Cortelyou pledge national support while banks in Spokane Tacoma Ogden and Pittsburgh report withdrawals and suspensions as customers rush to safety and government steps to stabilize liquidity unfold.
A broad weather summary reports a developing nor’easter affecting the Atlantic coast with gale winds and heavy seas. Concurrently, a financial bulletin from Chicago and Boston notes improved banking conditions and declining depositor demand, yet ongoing strain from liquidity fears and equity volatility as markets assess downturn risk.
In Winston-Salem on October thirtieth a meeting of local banks approved using house certificates to secure cash as a measure of monetary stringency. The action aims to preserve solvency and normal business, asserting the move won’t disrupt ordinary check transactions or indicate bank weakness.
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