davidaulloa/AmericanStories huggingface dataset:
The Washington times., 1906-12-23
MINORITY SHAREHOLDERS
RIGHTS ARE PROTECTED

The United States circuit court Of ap-
peals for the Eighth circuit held. in the
case Of Jones VS. Missouri Edison Elec-
tric Company. that any sale of corpor-
ate property by majority stockholders
TO themselves, and any disposition by
them of the corporation or Of its prop
erty TO deprive the minority stockhold-
ers of their just share of the latter, or
10 get gain for the majority at the ex-
peLse OF the minority, is a breach Of
trust which renders the sale or disposi-
ton voidabIe and the property recover
able at the suit of the corporation or OF
a minority stockhOlder on his own and
its Behalf, and the fact that the minor
ity stockholders may maintain an ac-
ticn at law for the value of their stock
is no bar TO their suit in equity to avoid
the contract and transaction. The court
said that they have the option 10 avoid
the transaction and follow the trust
property ia equity or to affirm it and 10
recover as damages at law the value Of
their stock.
The Washington times., 1906-12-23
RAILROAD COMPETITOR
Of PANAMA CANAL

The National Tehauntepec Railway.
connecting CoatZacoalcos on the Gulf OF
Mexico with Calina Cruz on the Pa
cifc has been about completed. and will
be opened for traffic January l. The
line Is 1872 miles long. Of standard gauge.
and equipped with modern engines and
cars especially adapted TO the loading
and unloading of freight from vessels.
The road is directly connected with eX-
tensiye waterfront terminals at either
end, suitable for the docking Of ocean
going vessels. This railroad is, of
course. a direct competitor of the Pan
anna Railroad. and. within certain linn
its, of the Panama canal project itseli
Practically its only use viii be the
transmission of freight across the COM
paratively narrow neck of land which
divides the Atlantic from the Pacific
above the peninsula OF Yucatan.
The eastern terminus is only about $50
miles from New Orleans, or less than
half the distance Of Colon. It's Pacific
terminal also is coTTespondingly nearer
San Francisco and the other northern
ports. For the commerce Of the North
Atlantic ports the advantage of dis
tance is considerably less.
The Tehauntepec Railway is not by
any means a new line. The first rail-
road over this route was completed in
1894. The rebuilding OF the line on mod
ern lines was planned to cost S25, ,000, ,O0O
The road is owned by the Mexican gov
ernment. but is leased for a term of
thirty years 10 S. Pearson & Son of
London.
The Washington times., 1906-12-23

lnenectual attempts to secure control Of
that company. should now gratuitously
oeEeHt al the expense Of the Gree 1e
company stockholders is a subject thar
should require Illumination
II IS very apparent that Col William
{. Greene in trading with the Standard
OIL interests has been tr' ated with lib
erality, as all opponents are treated by
the Standard OH when they capitulate
20 these great financial interests.
Ever since the formation Of the
Greene Consolidated Copper Company
Colonel Greene has been fighting against
great odds. He has been Handicapped
time and again in raising money for the
Greene company and other companies
IN which he was interested through Tie
placing Of obstacles in his way by The
very people TO whom he now capitulates
Greene company stocf a0lders have Ip-
held mis- hands and have furnished the
money necessary to place and maintain
the company in the front ranks Of the
copper producers of the world
The Washington times., 1906-12-23

The Washington Chapter of Bank
Clerks IL prolific in its source Of enter
talnments for the benefit of its men,
bers and their friends. Their latest
effort, which was held st their comfort
able club rooms. 1915 f street, Wednes-
day night, was an adding machine con-
test. which brought TO tho frCPt one OF
the bright young officers of Washing
toms financial Institutions. william
King. assistant secretary treasurer Of
the Merchants and Mechanics Savings
Bank. who easily won the contest BY
listing l5J checks in. two minutes and
forty-hve seconds.
By this victory this young and pro-
gressive bank holds two champions. as
Mr.. WOrthington, ITS seeretary-treasur-
er carried of first honors at the contest
held during the session of the Ameri-
can Bankers Convention at their meet
Ing in this city in 1896. The prize was
handsome gold ring
There is some talk of an interclty con-
test Of adding machine experts and
Washington bank clerks would welcome
such an arrangement feeling confident
that the honor Of the city would be well
upheld b. the present champion.
Suggestions for Santa.
The bankers and brokers will hang
up their stocking on Christmas Eve,
and "a few suggestions 10 Santa Claus
may not come amiss. and prove Of
service To him in the distribution Of
his gifts. OF course. none Of the gen
tlemen would care to express a wish
as 10 what they would moist like 10
have but IL IS known that several
things would be very acceptable and
much appreciated by the recipients.
z. Southard Parker would like TO
wake up Christmas m6rning and find
a bank building entirely comps ted
and ready to occupy.
G. c. Glover would like more than
anything else 10 see a great big Ma
tional Art Gallery peepiug over the
edge Of his stocking.
Albion h. Paris would appreciate
bound volumes OF a certain financial
Journal 10 which for many years ne
has contributed most intelligent reviews
!. William Henry wants a camera.
X. \. Harper says that so many good
things have been coming his way all
the year that he can think Of nothing
10 ask for
Thomas Hyde Is entirely satisfied that
his stocking has already been filled 10
overlooking with the good things OF life
health, wealth and happiness having
already been given him.
James NJ. Green has but one WIN nm
grained He wants a great big grizzly
with the mark OF his rifle plainly indi-
The Washington times., 1906-12-23
Gas Holders Undisturbed

Looking over the record Of sales on
the Stock Exchange the past week. the
absence Of trading in Gas stock has
been noticed particularly, and yariously
commented upon. The Introduction Of a
75-cent gas bill in the lower house Of
Congress, while acting as a deterring
factor 10 purchasers, has not apparent
ly had much effect on holders, as the
amount OF stock offered for sale has
been extremely scaut
The bid has daily made its appearance
with bat slight change, and there was
nothing to indicate that any reasonable
amount OF stock would not be taken
without seriously affecting the price.
Like all other stocks on the list. there
has been but little enthusiastic buying.
but this is explained by the general
condition OF the money market. rather
than other considerations. Holders OF
Gas stock have grown accustomed TO
sCares about legislation, and receive
them with decided equanirnity.
The Washington times., 1906-12-23
FAILURE AFFECTS
MARKET BADLY
Losses Followed Sharply on
Announcement With PraC-
tiCally no Recovery.
SLUMPS OF SIX POINTS
Heading, Great Northern, and Delaware
& Hudson and Northern Pacific
Greatest Sufferers.

NEW YORK, Zee. 22.-The possible ef-
feet Of a favorable bank statement to-
day upon security prices was dispelled
by nervousness occasioned just previous
to the publication Of the figures, by the
announcement Of the suspension OF Ar
mold. Leo x Co, a stock exchange com
mission house The trouble of the firm
in the short interval before the close Of
business, was ascribed TO the pro-
nounced weakness in the last few days
in Reading, which eliminated today in
an extreme loss OF nve and One-half
points. However, declines fully as great
took place today In Great Northern pre-
ferTed and Northern Pacific. and in con-
sequence Of the failure declines in the
general market were sustained, ranging
from l 10 o points. Northern Pa
cinC fell 3, Great Northern preferred
o, Chicago and Northwestern 4, and
Delaware and Hudson. Union Pacific,
and Anaconda 2la. Just previous 70 the
close there were recOveries from the
extreme low figures extending to a point
or more. The early trading was of a
strictly professional character. with the
traders working against prices. though
without material effect. Some stocks
by the end OF The first hour had estab-
lished gains OF p 10 ~ per cent. It was
reported that the buying on early de-
clines was fairly good.
The market closed weak, with most
stocks at or close TO the lowest ngure OF
the day, the professional operators sue
cessfulIy combating efforts to support
prices.
Government bonds were unchanged;
railroad and other bonds were lower.
The Washington times., 1906-12-23
Stockholders Hfeeting.

THE WASHINGTON MARKET COMPANY.
STOCKHOLDERS MEETING.-TL- annual
meeting OF che stockholders Of tie washing
TON Market Company viii Dc held at the OF
fee of the company in Center market on
eth st. NV, IN the city of Washington. D. c..
at j. o clock noon on the FIRST MONDAY,
being the 4th DAY OF JANUARY 1907 20
year. 20 vote On resolutions 20 consolidate
end refund the outstanding bonds Of the com
pany ana provide Tor iuIufv permanent inn
pr0y eUents or floating Indebtedness by au-
thCriZing an issue of bonds 20 the amount
Of Three Hundred Thousand Dollars. secured
by "A deed Of trust on the property and fran
chise OK the company, and 10 act on any
other matter within the powers Of the cor
poration that may be brought before th5
meeting. EDWARD r. TINKER. President.
FRANK q. WILKINS, Secretary
Washington, d. G. December To- 1906.
de2I- IT
The Washington times., 1906-12-23
GRAINS WENT TUMBLING
ON FORCED SELLING

CHICAGO. Dec. 1.-The grain bears
on the board OF trade ruled the rUost
during the entire session and closing
prices showed losses OF A@4sr in wheat
tsave December, which - Up Sc. "a
4sc for corn and 9sa1zc for oats. Cash
transactions in grain here as we'll as
the SeabOard were at a standsuli
Primary receipts wheat were 565, 900
bushels. corn 711.009 busnels compared
with $500 and S28,0O0 bushels, resIec-
lively. "a year agl.
Clearances for tie day were I52.O10
bushels wheat, 1900 bushels corn, and
:. 900 bushels oats.
The following prices ruled on the
Board Of Trade today.
The Washington times., 1906-12-23
sDxMlfxy8ntu
Ih1

Gated. Deer and smaller game are be-
ginning to pail on him.
w. V Cox feels that he got all his
last year when he was honored by being
placed on the currency committee OF
the Bankers Association His stocking
is about full
b. r. Saul would like a law bringing
building associations under the charge
OF tie Comps roller of the Currency.
r. II. Lynn declines to express any
wishes. The vice presidency OF the
stock Exchange came unsolicited.
John y. Sleman. jr., won't ask for
anything. Ii always comes to him any
way Santa Claus comes his way 80
days in the year.
Andrew Parker would appreciate a
spirited horse. fine golf outfit or q
silver leaf on his shoulder strap.
The Washington times., 1906-12-23
HEAVY GAINS CONTINUE
IN THE BANK CLEARINGS

Eauk clearings again exceed the very
heavy total of a year ago, showing
continued heavy payments through the
banks, exchanges the past week at all
leading cities in the United States be-
ing $3.3l81 $50. an increase of "a per
cent over last year and 39.6 per cent
larger than in 1904 Nearly every city
reports an increase and the gain is very
well distributed, though notably large
at Philadelphia, Cleveland, Kansas City,
and Sen Francisco. For the three weeks
of December exchanges are the largest
for the year. and exceed all previous
records for that month.
The Washington times., 1906-12-23
CHICAGO'S LAEOR BANK
TO INCREASE CAPITAL

CHICAGO, Dec. 22.-The Common
wealth Trust and Savings Bank, formed
by union labor representatives, Will try
to secure 100000 capite' within the next
six months, so that it can be reorgan-
ized under the laws OF Illinois. It was
chartered under the laws of Arizona.
with a paid-up capital of $4,000. but the
State auditor held that il could not ac-
cept the deposits In this State with less
than $4,000 capital paid in. IL has been
operated under the name OF George
IlI.ll.Na 4 %
The Washington times., 1906-12-23
Bank Proxies in Demand.

There Is strong probability that a
very pretty contest viii develop at the
annual election Of one of the down
town banks this week. Proxies are be-
ing solicited and PURCHASES Of the stock
made quietly wherever 1t IS possible 10
secure II and The price is not always an
obstacle as il Is stated that figures
even ia excess Of recent nigh ones have
been paid. II will not therefore De
surprising 10 see a new representation
on the board as the claim is made that
practically control has been held for
some time By parties not entirely in
accord with the present administration.
IL is believed that recent purchases
have been made 10 Offset unexpected
losses of votes and that tae ground lost
has been Tegained.
The Washington times., 1906-12-23
COPPER PRICES STEADILY
WORKING TO HIGHER LEVEL

BOSTON, Dec. 22.-Walker's Copper
Letter in todays Commercial says:
Copper g steadily working higher.
Lake and electrolytic are now held at
234 to 23A cents per pound. Some pro-
ducers are asking "a cents for Lake.
While the market is comparatively
quiet. there is a steady buying demand
from both foreign and domestic con
sumers, and a willingness Is shown by
them to make contracts for deliveries
as far ahead as March and April Of
next year. So far as can be learned.
there is no falling off in consumption,
which, Notwithstanding the abnormal
level of prices. still exceeds production"
The Washington times., 1906-12-23
FAILURES ON INCREASE
IN NUMBER AND AMOUNT

Commercial failures the past week
in the United States, as reported by
r G. Dun & Co. are 254. against 226
the corresponding week last year.
Failures in Canada number 26, against
33 last year OF the weeks failures
I'm the United States, % were in the
East, SO South. 81 West. and % in the
Pacific States. and so report liabilities
Of $4,000 or more. Liabilities or COM
mercial failures reported for Decem-
Der to date are S5.703,S27, compared
with S5,577,764 a year ago
The Washington times., 1906-12-23
PENNSYLVANIA TO BUY
5000 NEW FREIGHT CARS

PHILADELPHIA. Dec. 22.-The pur-
chasing agent Of the Pennsylvania rail-
road has invited bids for che construc-
ton of 5000 cars. The contract will be
awarded within a few days. Their esti-
mated cost is S., 00O,0O0. 1t is not expect
ed that the cars will be delivered before
the latter part of next year. With the
placing OF this order. the company will
have ordered within the last two years
nearly $1,000 additional freight cars OF
various types.
The Washington times., 1906-12-23
EARNINGS OF RAILWAYS
SHOW LARGE INCREASE

According to Duns review, gross
earnings Of all railroads in the United
States reporting for December to dase
are $l2,743,O44. an increase Of SC per
cent over the corresponding period last
year.
The Washington times., 1906-12-23

Following are the sales and quota
tions % todays market;
Washington Gas. per cent 81 .OO9fI
102. SlO0Q102 Sl00G102
Washington Gas Certificates. SSO0Ql13.
AnacOstia and Potomac, per cent,
81, OJOulOlk $I.O00Ql0l, l,0OOql0i, s., ,OOOlE
1O1, S.0OOgIOl.
Potomac Electric. per cent. 81 .OOOa
l03St. 81, ,0OOQl03e4, 81, ,O00alO3at.
Washington Gas, Z5Na75R
MergenInaler, lOul98, l0Il9S.
Lanston, 1O0Gl32t 50al3k, I5al84,
Greene Copper, 10O93&.
Union Trust Warrants, 7Q22
The Washington times., 1906-12-23
PRICE CHANGES OF WEEK.

The following table furnished by
Griffin. Halstead & Co, brokers, 1874 +
street, members Washington Stock EX-
change. shows the opening highest,
lowest and last sales on the Exchange
last week. Prices are for quotation lots
The Washington times., 1906-12-23
NEW YORK COFFEE MARKET.
BANK STATEMENT.

The surplus OF the banks is g. 2s0. 900,
against Si,l59, 400 last year, and SIS 247, ,225
TWO years ago.
Decrease.
The Washington times., 1906-12-23
COTTON EXCHANGE CLOSED.

NEW YORK, Dec 22-The Cotton Fx-
change was closed today and will re-
main closed until Wednesday morning.
The Washington times., 1906-12-23
LONDON MARKET CLOSED.

LONDON. Dec. 22.-On account OF the
holiday there was no stock market to-
day.
The Washington times., 1906-12-23
n. Y. STOCK MARKET

Quotations furnished by Charles @. Gates
& CO., Munsey Buildings Members New York
Stock Exchanged
The Washington times., 1906-12-23
MISCELLANEOUS BONDS.

u. S. Steel 5s... 97s 97ss 97i4 g7A 97ss
Rock Island As. Il y y q =
Rock Island 5's. 9ola 9Ok 90lz 90lk 9lT
Inter. Met AZ 1875 SO 1875 50 1914
Penn. Conv. 1915. 927s g27s 925s 924s 92&
Total sales yesterday, 6S2. 700.
The Washington times., 1906-12-23
NEW YORK CURB STOCKS.

Quotations furnished by Charles G. Gates
& Co. Munsey Building Members New York
stock Exchange
SATURDAY. December -. Fri.
The Washington times., 1906-12-23
Relation to Canal Work.

The relation Of this pipe line to the
work OF the Canal Zone IS well recog-
nized, and vas a strong factor In secur-
Ing the permission of the two govern
ments. Fourteen thousand tons OF coal
a month are brought into Colon. most
OF IL coming from Norfolk. Va. The
handling OF this coal is a severe tax
upon the facilities OF the port. and a
cource Of congestion on the overcrowd-
ed Isthmian railway. With oil gt hand.
it * possible 20 cut on this coal, and
thus relieve the carriers and docks for
the handling Of necessary business.
The Washington times., 1906-12-23
But Recently Completed.
Government Consent Obtained.

The United States gave its consent
70 and approval Of the plan early
In the present year. stipuIatiug that the
concession should terminate with the
opening Of the canal, and that the com
pany should be a mere Iicensee. and ac-
quire no easement In the land over
which the line should be laid
Work was begun at once at both ends,
and In the middle Of the line. The pipe
used is Of eight-inch interior diameter.
The greatest elevation Of the line is
2l0 feet and the present working pres
sure Is 600 pounds with a maximum OF
500 pounds
The Washington times., 1906-12-23

Positive denial of rumors that Presi-
dent Cassatt, OF the Pennsylvania rail-
road. is seriously i'll comes from Fnila-
delphia. He was out driving yesterday
afternoon. and is only taking the neces-
sary precautions after his late slight i'll
ness.
The Washington times., 1906-12-23

In addition to the regular quarterly
dividend of per cent the Garfield Ma
Iional Bank. Of New York, has declared
an extra dividend of S per cent. This
The Washington times., 1906-12-23

1t is officially announced that the Rus
sian government, before January II, VIII
redeem about 500 co., 600 of bonds.
The Washington times., 1906-12-23

The appellate division Of the supreme
court Of New York has affirmed the de-
cision OF Justice Rischoh, refusing to
compel the Consolidated Gas Company
TO supply gas a the SO-cent rate.
The Washington times., 1906-12-23

The dividend rate Of the New York
Trust Company has been advanced
TO IA 32 per cent basis, as compared with
% per cent hitherto
The Washington times., 1906-12-23

Representatives of the American Steel
Foundries say there is little basis for
the reports that the company is to re-
sumo dividends on the preferred stock
shortly. The earnings OF the company
are far in excess Of what they were in
any previous year since organization.
The Washington times., 1906-12-23
BUILD PIPE LINE
ACROSS PANAMA
Oil Carrier 1raVerSeS 18TH
mus From Sea to
Sea.

An oil pipe line from sea TO sea across
the Isthmus of Panama is one of the
completed achievements of the hour,
whose influence In the world OF trade
Is already being felt, and whose Sc
cret history will not soon be forgotten.
Firty-one miles across hills and through
swamps. from Pacific to Atlantic. the
massive pipe stretches away like the
trunk of some giant snake. now bask-
ing in the sun along the roadway, and
again lost in the ooze Of tropical glades
and overgrown with rank vegetation.
But Recently Completed.
The paint is scarcely dry upon this
work, and the construction Of tanks
and pumping stations is still under
way ; but ii may be said that the
Isthmian pipe line, which a few months
ago existed only in the Imagination OF
OF its protector, and Ia the diplomatic
correspondence which he set on foot. is
now a working factor in the breaking
Of the continents. The most significant
fact in relation 70 this line is that it
Is ;he property Of an independent oil
company-the Union OH Company Of
Calirornia-and that company thus gains
power and prestige which will enable
it to compete with the supposed master
Of the oil market
The Washington times., 1906-12-23

Stock brokers advise their customers
10 purchase good securities on recess
sions, this advice being applicable. how
ever. to those who are able to finance
them This means that the man with
a small amount of money would better
stay out of the market until the skies
become clearer.
The Washington times., 1906-12-23
STOCKS, BONDS, FINANCE, SECURITIES
THE WASHINGTON MARKET

Saturday, December p;
The Washington times., 1906-12-23

Many of the leading members of the
stock exchange are agitating the ques-
tion of changing the rules of the stock
exchange clearing house They hope 10
bring about changes that viii simplify
ClearanCes. and which will not involve
such a large financial outlay They viii
eudeavor 10 create changes to conform
with the London stock exchange clear
ing house methods
The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1906-10-08

DENVER. COL, October with death
near at hand. Mrs Edward J. Munror
the wife Of q wealthy OH operator Of Fos.
ioria' Ohio. talks daily into q phono-
graph so that when she shall have
passed away. her voice may cheer her
sorrowing husband
The Mungens have made tour Of the
world. and in each place Of interest they
visited Mrs. Mungen has recorded upon
t"c cyclinder her impressions OF the sights
and much of the conversation between
herself and her husband is also repeated
into the phonograph. When the physi-
The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1906-10-08

NEWPORT NEWS. VA. October
First Lieutenant Frank u. Hawkins. or
the Twonty-seventa Infantry. and Nuse
Kehecca r streator of Washington r.,.
We're quietly married here last nisat at
the First Presbyterian Church by E,r.
b.. ". Wexford. tho pastor. The couple
expected to Dee married. this fau hut
when tie lieutenant was ordered to tho
front from Fort sheridan last week. nr
nouucd his hance. asking her To- meet
hm here and have the ceremony grr-
formed at once. Miss Strcator. ac.ou-
panied hy her sister Mrs Robert vs.. Dar-
sShzand, s-R0 Ll4e Acutsuaats sister. AIrs.
The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1906-10-08
VOICE IN PHONOGRAPH. TO
CHEER SORROWING HUSRANr
With Death Near at Hand, Aged Wife of Wealthy Oil
Operator of Ohio, Adopts Unique Means
of Comforting Him

can at Fostora and Toledo pronounced
the death sentence upon Mrs. Nrungen
who is now seventv-one years Old. tbev
SAID she would probably live longer If
taken 10 other climates. Thereupon the
MunSens set upon q globe -encircling tour.
1T VIII be like making another tom
Of the world with Mrs Nfungen." said
Mr.. Mungen to-day.
The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1906-10-08
Curious Crowd on Grounds.

Al dar. tnp. horses of enormous rafr-
'r'faiy tended and handled were ar-
rItn- ana being QlartereI fu th. come
iori nle boxes where they VIII spend the
week Each new arrival was viewed
" .ia interest and carefully inspected lv
tnD t-rorgs. AND the rr00ms and stahl.
hnFs were kept busy telling of the proves.
OF th.~ or tiat equine arl~to,rat and roir--
inr to tAe array Of ribbons thev had
taken at the great shows OF tho country.
ATT Was hustle and energy around fh.
stables i'r'venler was being provided
ht some, while others were u0lferfr.y nm.
harness ana making the quarters COM
Portable for the animals they loved with
am affection almost equal TO tho love of
woman
me gaping crowds listened eagerly ~
the tales told hy the hostlers and stable
boys and admired the pampered beauties
ar horsedom 10 their hearts content
The Big building has been put i'm com
D'tion for the reception Of the visitors
and 10 is no oXaggcration 10 saw thar tne
prospect is excellent for a greater ar
tendance than ever before. IL is eouarlv
ifne that The number and standard ~.
inc entries this year cXccls that in evcrv
preceding exhibition. The pick and flo,,.o.
oi the horses seen at AN the great and
fashionable shows Of this country u',ii
he gathered iu the tan-bark ring of tte
ampnittheatre during tie week
Contnue1 on Eighth PAGE