The Washburn leader. [volume] (Washburn, McLean County, N.D.) 1890-1986, 1907-08-30
MMERCIA
Laundry Machinery Combine.

laundry Machinery mbin
Among the latest announcements of
Industrial combines is that of the
American Laundry Machinery Manu-
featuring company. Its authorized cap
ital is ST, 500, 900, 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
g%anization i'll 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
its name implies, Of national scope, and
over fifty influential commercial organ
izations throughout the country are
represented in its makeup. The off,
GERS are: ]. c. Lincoln of st. Louis,
president; W. B. Everest of Plttsburg,
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
merce commission" The league does
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 a Failure.
The bonds Of New York city, which
in former years have been considered
gilt edged Investments. mel with a
very poor reception on the 18th inst.
when $15,OOO,OOO Of 4 per cent securi-
ties were offered for sale, the sixty
three bids received aggregatins only
$22,713,4S5. These bids We're mostly
at par. Under the law the bonds re-
naming unsold may be offered at prl-
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.
$3o,0oo,ooo Biscuit Company.
The report is current that an organ
ization to be known as the General
Biscuit company, being a consolidation
Of about 100 independent biscuit bak-
ing companies, has recently been Ill
| corporated in New York with a cap.
ital Of $SO.0OO.0OO. While the concern
is financed by two strong financial in.
stitutions of New York city, the presi-
dent will be u successful western bust
ness man, and a 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 4oo5. Other leading stocks which
suffered severely We're the Union Pa
scifc, which lost 81 points; Delaware
and Hudson, 6 points; Northern Pa
ciic, 5 points; PENNSYLVANIA. 3 points;
New York Central, 3l44 points; Illinois
| Central. az points. In some of the
inactive inlustrials there We're even
greater breaks, and for many Of them
the brokers' were unable to obtain quo
tations ofsany kind. The total Stand
ard Oil shrinkage was $65. 100000 In
one week
$22,5oo,ooo Pope Failure.
The Pope Manufacturing Company
Of New Jersey. the $22,5O0.OOO auto-
mobile and bicycle combination which
succeeded the SO called bicycle trust
In 1903. was placed in the hands Of re.
eeiyers on application Of its own Of
acers, owing to the stightness Of the
money market and the inability to