The Owosso times. (Owosso, Mich.) 1897-1926, 1907-08-23
COMMERCIAL
aundry Machinery Combine.

Laundry MdCnineTy Sompine.
Among the latest announcements Of
industrial combines is that of the
American Laundry Machinery Manu-
featuring company. Its authorized cap
ital is $1,500,00O, Of which $2,5OO,OOO is
preferred stock. One of the interest
ing features OF the new combination
is that no bonds have been issued, the
financing being done exclusively in
stocks.
Traffic League Organized.
News comes from Chicago Of the or
ganization in that city of the National
Industrial Traffic league, which is ex-
pected to have an important effect upon
the relations of the railroads to the
shippers. The new association is, as
it's name implies, of national scope, and
over fifty influential commercial organ
izations throughout the country are
represented in it's makeup. The Off
GERS are: j. c. Lincoln of st. Louis,
president; w. 3. Everest Of Pittsburg,
vice president, and e. B. Boyd of Chi
cago, secretary. The purpose of the
league Is said to be Cooperation with
the railroads and the Interstate COM
not expect to attack the railroads, but,
rather, to cooperate with them and to
make suggestions to the interstate COM
merce commission when occasion de-
mands.
City Bond Sale Failure.
at< al,
in former years have been considered
gilt edged investments, met with a
very poor reception on the 10Th inst,
when $15,OO0,000 of 4 per cent securi-
ties were offered for sale, the sixty
three bids received aggregating only
$2,713,4S5. These bids were mostly
at par. Under the law the bonds re-
naming unsold may be offered at pri-
vate sale, and the officials expect to
dispose of a large amount In this way.
Later these bonds were marked down
to par and sold.
$4,000 900 Biscuit Company.
The report is current that an organ
ization to be known as the General
Biscuit company, being q consolidation
of about 100 independent biscuit bak-
ing companies, has recently been in
corporated in New York with q cap
ital of $30,OOO,OOO. While the concern
is financed by two strong financial in
situations of New York city, the presi-
dent will be a successful western bust
ness man, and 100000 plant will be
erected in st. Louis.
Heavy Tumble In Stocks.
Last weeks stock market opened I'M
der conditions of such depression as
caused many stocks to make new low
records, Standard Oil, for example,
showing a maximum loss of forty
points and reaching the new low figure
Of 425. Other leading stocks which
suffered severely were the Union Pa
cific, which lost "a points; Delaware
and Hudson, points; Northern Pa
cific, points; Pennsylvania. 3 points;
New York Central, 49, points; Illinois
Central, ~ points. In some of the
inactive industrials there were even
greater breaks, and for many of them
the brokers were unable to obtain quo
tations of any kind. The total Stand
ard Oil shrinkage was $65,000,000 In
one week.
$22,5oo, 900 Pope Failure.
The Pope Manufacturing Company
Of New Jersey, the $22,5O0,OO0 auto
mobile and bicycle combination which
succeeded the so called bicycle trust
in 1903, was placed in the hands Of re-
ceivers on application of It's own Of
hcers, owing to the tightness Of the
money market and the Inability to
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