Twice-a-week plain dealer. (Cresco, Howard County, Iowa) 1895-1913, 1907-08-23
COMMERCIAL
Laundry Machinery Combine.

COMMERCIAL
Laundry Machinery Combine.
Among the latest announcements Of
industrial combines is tut of the
American Laundry Machinery Manu-
/ featuring company. Its authorized cap
ital is $1,5o0,000, Of which S2,5o0,00O is
preferred stock. One of the interest
ing features of the new combination
Is that n0 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
its name implies, of national scope; and
over fifty influential commercial organ,
izations throughout the country are
represented in its makeup. The OIL
GERS are: ]. C. Lincoln of st. Louis,
president; W. B. Everest of Pittsburg,
vice president, and e. B. Boyd of Chi
cago, secretary. The purpose of the
| league is said to be .sco-operation 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 Failure.
The bonds of New York city, which
in former years have been considered
gilt edged investments, met with u
very poor reception on the 10Th inst,
when $15O00,0O0 Of 4 per cent securi-
ties We're offered for sale, the sixty
three bids received aggregating only
$2,713, 4S5. These bids We're mostly
at par. Under the law the bonds re-
manning unsold may be offered at pri-
vate sale, and the officials expect to
dispose Of large amount in this way.
Later these bonds Were marked down
to par and sold.
$40, 0oo, 900 Biscuit Company.
The report is current that an organ
ization to be known as the General
Biscuit company, being consolidation
Of about 100 Independent biscuit bak-
ing companies, has recently been in
corporated in New York with cap
ital of $S0,000.0OO. While the concern
is financed by two strong financial in
situations of New York city, the presi-
dent will be 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 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 81 points; Delaware
and Hudson, G points; Northern Pa
cific, 5 points; Pennsylvania. points;
New York Central, 31a points; Illinois
Central, III 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 $G5, 100000 IN
one week.
| $22,5o6,oo0 Pope Failure.
The Pope Manufacturing Company
of New Jersey, the $22,5000OO auto
mobile and bicycle combination: which
succeeded the SO called bicycle trust
in 1908, was placed in the hands of re-
ceiyers on application Of its own Of
fcers, owing to the ightness Of the
money market and the inability to
meet loans. Vice President Albert L.
Pope, son of the president and founder
Of the business, which was started as
q bicycle factory at Hartford, Conn,
was appointed receiver. The petition
places the total assets at $23,67S,250
A strike in the automobile plant six
months ago was the beginning of the
present trouble.
Standard Oil Still Profits.
Z A dividend of Sc share for the last
quarter was declared by the Standard.
Oil company, which is practically the
same rate as prevailed when the
shares of Standard stock Were selling
at top notch in 1901. -
Stock Market Recovering.
The prices of all the leading raj!
road and Industrial stocks continued
downward until pear the. close of the
exchanges Aug. 10, when there was q
strong and substantial recovery,
coupled with a marked reversal of
sentiment in Wall street. This change
in the financial tide scoincided With ru.
mors that President Roosevelt was to-
announce the end Of the government
prosecutions in his speech at Province
town, Mass. Another report was to
the effect that the Hartman 3railroa.1
J system would be reorga-i zsd and the
several roads placed fin7ESparate HANDS.