davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1908-03-17
TO BE BANK RECEIVER.
j. III. Eduards to Take CHARGE of
Nesc amsterdam National

Washington. March I5--The resignation OF ] H
Edwards. Assistant Secretary Of the Treasury in
charge of the financial bureaus OF the department
which was rendered some time ago will take effect
tomorrow, when l. 4. Coolidge, who has been
confirmed by the Senate will take charge of the
office. Secretary CorteIyou said to-day that
parted with Mr.. Edwards with great regret and
that he regarded him as efficient and faithful
officer. Mr.. Edwards. he said. had received two
three attractive offers from financial institutions
in New York, but the Secretary's urgent request
he had postponed their consideration accept the
recevership OF the New Amsterdam National Bank,
OF New York, which suspended in the recent finsn-
cial stringency. For this post Mr.. Cortelyou de-
sired TO obtain the services OF some OF known
ability. II is the expectation of Treasury officials
that with good management the bank be re-
opened at comparatively early date.
There a report yesterday that the Hudson
Trust Company and the Times Square branch OF
the suspended Mechanics and Traders Bank would
be merged with the New Amsterdam National
Bank, which TO be rehabilitated, and that Mr..
Edwards would be president Of the institution thus
formed There are, however, many obstacles
in the way of such merger that the proposition
hardly feasible Several uptown bankers
said that they were interested in working out the
details OF this plan The most favorable feature
is the close proximity of the three banks
toned. Mr.. Edwards will come to New York to-
day and at assume charge of the New
Amsterdam. This institution closed its doors on
January 30 and has since been under the charge
OF Charles A Hanna. national bank examiner and
receiver for the National Bank of North America.
The banks affairs understood TO be in excel
lent condition, and it is unof7cially reported
the depositoTs viii receive dividend OF % so
per cent in the future. Frank W. kinsman,
Jr-, was president OF the bank when il suspended.
Charles ". Morse was vice-president up last
October
New-York tribune., 1908-03-17
CRUCIBLE STEEL PASSES DIVIDENDS.
Unfavorable Condition of Trade Said To Be
Cause Of Action.

Dispatches from Pittsburg yesterday stated that
the directors OF the Crucible Steel Company had
passed the quarterly dividend on the preferred
stock The action of the directors was said TO De
due 70 III. lfavora5Ie condition Of the trade The
stock IS per cent cumulative, but since he IN
corporation Of the company in 1900, the 1uu dIVl-
dend has noI been paid. and the overdue DIVIDEND
ION amounts 10 q per cent During the great de-
preston in the steel industry in Pittsburgr from
Sepce--1er 1912. 20 December. 1856, the dividends
also emitted ~ 436e OF the preferred stock
ls outstanding
Tle c1npalys statement Of operations covering
the six months ended February . last shows net
profits Of S-s s69 but for the last four months o.
It's period there vas loss OF S35.9s9. The amount
charged or account Of depreciation OF value Of
and process material the six months was
ss-s2 which after the payment OF S-445bo In dlV-
Cents for thz period named left deficit of S4s6,524
and -ec-ced the surplus 70 $50 1ss- The orders
O. hand on February . were 76,621 tons against
le-sl9 tons On August g. 1897.
New-York tribune., 1908-03-17
DIAMOND MATCH.
BUSINESS TROUBLES.

The petitions in bankruptcy fled yesterday IN
,ra United States District Court were as follows:
TryoIuntary petition against Sragon & Miner.
hers of ladies' cloaks No s2 Prince street, pS
80. Tnuertal Braid Company ana others, WIN
cIStrns Of sS4 so Preferential payments are OF
ICED William Henke, r., was appointed receiver
for the firm. - .. c,o,on.,l,,, r,-o-b
ere No n East Broadway by 3 Br1I1I SroLlSiS
enj others with claims Of 500 81 Preferential
payments are alleged ...,- r,a-,.a- saIas
,a0 Ind clerk No 1888 First avenue; liabilities
e. aa5 e assets consisting of debts due on open
accounts) 500 10. - - 49, .+1o,+io yx-,ne
I'd c3rocerv Company. No IA Columbus avenue
1ni,nIary petition liabilities 3d. 30. no assets
TnvoIuntarv petition against Therry brotners
proners Nc 80 Madison street, by the Sonl-
SS,erciai Olive OIL importing Company and others
With claims of s. ,SS4 --., .. 80,
unfarV petition; liabilities N7sSso 81. no assets
Tte debts from which Deubleir seeks 10 De iFeeu
were contracted by him while a fneHbef OF me
Srm of Reitwiesner. Deublein & Prause, which
dissolved in June 1887. e,,., --.p,.,o
involuntary petition against Colonial Tobacco
Company Nos 1854 and 15e Third avenue 10y
ntontauk Cigar Company and others. with Claims
Of ssl7 81 Preferences to the amount OF s-'"b are
alleged
Judse Holt appointed Frank J. Waldeyer receiver
of the business Of C,rosovsky Brothers
Discharges we're granted 10 Charles Il tuFeI
Louis Selig Julius Strauss, L w. ftotnscnild
Milne a Turnhul Issacsnr 4 Gardner, PolldcA q
Nathanson and F1nkelstein e. kugel
New-York tribune., 1908-03-17
MINING NOTES.

As result % diamond drill testing the silver
Green has decided 10 continue its main shaft TO
q depth q 40 feet The Cobalt Central mines are
slEo rayicy deepening their main shaft on the Big
Pete property The lowest level in the mine has
how reached z depth OF 240 feet, where four veins
have been opened UP. Within the last week an
auher rev vein. known as No. z, has been cut out
O. this property Al the lowest level On lot Ss.
across the from the Big Pete. q ne" VEN mas
o-sn uncovered the surface which closeIy re-
senolrs the rich No vein or the latter property
The Kerr Like Crown Reserves vein IS
sokeD Il IN the camp being as Tlcl as bonanza
a - TIE Alulssin2 POSSIBLY Flcher. bul Hot 80
s.ee. The vein Is twenty-five inches IN WldlL'
via lsrg- slabs CT native silver standing up per
peacaculafiy-
John A stsels. Of Ely, miner CT considerable
ez5erience SAYS: That have desire 10 knock
kaEhide is evidenced by the fact that considered
y gooa enough 10 take a lease on, but for all mat
ar corlg5eIIed 10 say that not all OF the holes
st-nc cug over there VIII prove mines Inc Iot-
Nation Is pOckety and ground near the surface
e-l with gasn veins II Is possIDIe lhat ~ solliI
= mines viii be MADE there Dut the TeiAl sour
q the ore has not been located. The camp has not
Sel Demonstrated its permanency and worth
The Tinted Rico Mines Company has completed
tae installation Of its pipe line for Transmission OF
powe- for the operation O. the electric air drill IL
lhs Shamrock lead-zauc mine. The ore from this
nin- Eil be rniHed in the Atlantic cable mil IN
which magnetic separation plant Is now DeihE III
stalled. The ~ornDsrv recently decided 10 aiioN
iesseez work small blocks Of It's pr.rerils aill
Already twenty-five lessees are ~ work taklhe ouI
s-lprlDg and milling ere from various HlilrH
The directors Of the Buffalo Mines, Limited nave
oees-ed the regular quarterly dividend OF per
cert PAYABLE on April 10 stockholders Of record
2" March - The books close on that DAY ana
reopen april .
New-York tribune., 1908-03-17
BUYERS FLOCK TO CITY.
NO H1RD TIMES SIGNS.
First Day of Infur Due to Mer,
chants association Rates.

There was a rush OF all classes Of buyers of
merchandise this city yesterday. due to the Mer-
chants Association reduced rates on the trunk
lines from points more than one hundred miles
distant While the influx large for the first
asv il was expected that the numbers would in
crease during the week Buyers came yesterday
frer the western part OF this state, from Penn
svivania and a few from ST. Louis and Chicago.
They principally on still hunt for whoie-
sale bargains in millinery and general dressnakins
supplies
L was q matter Of wonder TO the man who
keeps the record at the Merchants Association
that a larger proportion than usual consisted OF
women one coming from Pittsburg TO buy dress
,ak5nc materials and to get the latest ideas re-
Yardiug gowns from the adopts in this city. Once
New York dressnakers bowed TO the superior in
xent:ve genius the Partisan The Partisan stamp
s;jl commands much respect, but the New York
model carries almost much weight, especially IN
Chicago.
There was no evidence Of hard times among
those who went 10 the Merchants Association
rooms TO sign the list OF arrivals They were as
alert and optimistic II there had been no
bank failures They were on business bent as
usual. One OF the women from Western city
who IS here to spend about I'VE thousand dollars
said
We know there have been hard tin1es-noW,
please 90 not use my name 5 ii Ii-,ae IN o,Ir teTT
-. 9-1-a heen overcome We down to solid
I b-Sie 80 lgrarS i and SO do the banks here. AS
-, would say here the water mas been squeezed
-r7-' ~ 0IT- 0ptiu7isr1 But We are optnislC JUST
IRE same We are going 10 90 a 5000 business, IS ;,
~ We are not going overload we nave tne
co-sa-,.-s,-a beee that is. We are gong 10 puy
80 - l,ozv VIII be bought and not whal We
to-o Ill be purchased There Is dlnerence, ana
ztssa-o,ai tends 10 safety, and that IS WHAT We
- eE-,i,-g af We want TO be SAFE against aiio
GO W 40 not believe another VIII come but
we have learned our leS9oI-
80. t,-rsrs were OF the same opinion They
- =. rs-e 70 overload They DO not intend 10
-, s,c,,Iatively. They came TO purchase the stock
.-,S@ hoy a ".
J. .ss All very well in other years TO invest
,,- IN stock that might be taken up by Gus
-,,-s rrr- that won't do now
This meant of course, that the wholesale houses
here would not get much business as usual, out
c,e Of the leading jobbers said that they pre-
ee--e6 II that way The credits would be SAFER
The examination into the resources OF the puyers
be said was more stringent than formerly Ihab
vas q simple plan Of protection against possible
loss through fnjudIcous purchasing 1t die not
necessarily mean hard times The times were con-
Se-vative. that was all
And with ] all 5he general feeling yesterday
vas that the business this year in everything per
tanning TO the dry goods TRACE would be equal TO
tae average for the last five years.
New-York tribune., 1908-03-17

COTTON-The market irregular with
covering while later positions
relatively good weather in the south
reports Of better with farm work Toward
Wall people sellers OF July and the
market quite unsettled. the closing being steady
March and May but easy later positions at net
points decline of points Sales Tor
the day estimated at 1900 bales The opening
advance Of 2Q3 points better sales
and after sasgns or 70 about the closing figures or sat
the market improved covering and buying OF
the months by strong interests Possibly expecta
tions OF buish report Friday have had
me influence advance IL seemed likely
definite confirming last
behind
March advanced Il
points while the best point October
showed a only points demand for the late
positions being restricted by good weather Later
Wall Street people bought May early seemed
selling July. and that position showed maximum loss
March the chief South
exceeded the days port receipts by about 5000
conditions but II seems generally agreed that
going forward rapidly and that
there may be some increase in the area IN the southwest
Mail advces from Bremen state that conditions
settled among spnners and volume Of
hardly sufficient replace the contracts
running Of the private cables
Liverpool report better business is pending IN
Manchester.
range prices the 1scaI market to-day
follows:
New-York tribune., 1908-03-17
CASH QUOTATIONS.
GENERAL MARKET REPORT.

New York March 16 1908
COFFEE-Trsdiug coffee futures in the New YORK
quiet to-day. sales for me Gay
being only 200 The market opened steady al
unchanged prices and dull net unchanged TO .
having off positions as the
offerings in the absence or prompt
The presented no special feature
for the consideration local trade Havre was :.
loss closing net unchanged while Hamburg the con-
unchanged somewhat reaction
ary closing unchanged = pig lower Neither OF
Brazilian markets reported change N prices ala
ports getting 10 600 bags against $4,000 last and
600 Receipts at the ports Tor the last
week I1s.Os0 bags against 10000 the previous
32O and I2Cso two years age 80 Iar
receipts have been about ltSvpy
than period of 19oJ-O6 when
those OF years ago by the
percentage during the last week. this season
crop NAV aggregate something over 1.OcoOoo bags
the week estimated at l3G-
and e5 500 for two years ago The mar
spot coffee quiet with quotations on tne
o. Rio No = The total warehouse de
Ifveries in the United States about
10000 bags. against 800 last week and IL
Ois last year OF the amount New York
reported iO6O02 bags weekly cearances and
shipments coffee Brazilian points Tor the
week follows: Rio cearances 51,Oco bags.
including the United States: 160oo TO Europe
aud 5000 the Cape, etc: Rio shipments $500
cleararces, $4,000 bags, including
the United States and $1,000 for Europe
Santos shipments 14s coo bags, OF which 1000 were
United and I1,OI0 for Europe Victoria
clearances % 900 bags to the nied states The
weekly Bahia receipts 2.T00 bags and stock is
bags: Germany nil. and 10 the rest
Of Europe. The OF prices In
the local market to-day follows:
New-York tribune., 1908-03-17

big Minneapolis receipts winter wheat points
Commission houses sold wneas quite generally through
the having covered well sat
urday. very little long wheat
New York was quoted 81 OF elevator and 81 0: o
ahoat; No I Northern Duluth 81 l41s and No : nard
winter VI l21s f afoat. CORN-The corn market
started out firm in face heayness. cables
were zd, commission bought rather freely ard
there was no in of the timidiry among
traders about getting short II apparent now
ever that bulls had intention Of pushing the market
UP with wheat saggiog lower prices gradually esSed
on until they dropped %sc There
was slight rally from this point the late afternoon.
put the nnal market than barely steady at
about l.c decline here Nc in Chicago. The visible
supply decreased 2t3 900 bushels Offset by
me larger arot estimates for Tuesday Chicago Ex
porters took two loads No 2 closed T4ls
elevator and IS 1-c afost: grades nominal
OAIS-in line with had
hrner opening but balance
oL the cay without support
ihe visible supply increased 42i Cash
nere closed as follows Mixed. 2s 81 10 SIC natural
WnIIe % 70 3e n. 5TdSoc clipped white
onnSoc- RYE-Narket dull; No . Western s76ssc nom
NAL New York BARI.EY-Market nominal.
New-York tribune., 1908-03-17
NEW KNICKERBoCKER DIRECTORS.
Einsdill Parsons, Herbert I. Sarterlee and
J. Horace Harding So Far Named.

z7fnzdiu Parsons. Herbert L Satterlee and y
Horace Harding were elected directors Oh '"e
E-ir5arbocker Trust Company yesterday at q
meeting CT the OLD board Of directors in the once
q Julien = Davies. counsel for the company IL
was announced that the elections were mace al the
-p1--esr q the voting trustees. Henry 9 FLICK
aTv-o7 = Herrick and Lewis Cass Ledyard- The
Cd board numbered thirty-one members. but II IS
said that The new board viii consist Of fifteen di-
rerrors only
+7j,<5fu Parsons is one Of the ce-presidents OF
t,e General Electric Company and was chairman
o. The sepositors' committee Of the hnckerbocker
Trust Company. Herbert /. Satterlee- who was
counsel for this committee son-In-aw Of ! 2
Morgan = Horace Harding is p member OF the
fz-kf-c firm ol Charles Z Barney & Co.. OF No .
Broad street he is also director OF the windsor
Trust Company. Of this city. and the Corn TX
change National Bank OF Philadelphia
! Russell SoIev. Of counsel for the stockholders,
said positively yesterday that the company would
-coun 5ts doors On March % He said that the full
board OF directors would probably be named il a
few DAYS
New-York tribune., 1908-03-17
INTER-MET. BOND ISSUE
First Hearing ON Application to
Raise .S55 900 900.

The first hearing the application of the Inter
borough Metropolitan Company for permission to
mortgage its property for $o5ooo0W to secure an
immediate issue OF SEQ 100000 in bonds for refundng
present Indebtedness and the optional future issue
s25 in bonds for such additional equipment
or purchase of property as might be deemed wise'
held by the Public Service Commission yes
terday afternoon.
George W. Wckersham counsel for the company,
explained the details of the proposed mortgage and
bond issue in accordance with the formal petition,
published The Tribune last week.
In the list of property scheduled under the lease
that owned by the Manhattan Railway Company
Operating the elevated lines) was not given. Mr..
Wickersham SAID. This because the consent Of
the stockholders would have to be obtained and
IL not deemed wise to ask for such consent at
this time.
Edward F. J. Gaynor auditor Of the company,
put on the stand to certify TO certain balance
sheets put in evidence He testified that about
S. 10000 had been paid to capital account out Of
the operating receipts. This money was due from
capital account, he said. and would in time De
paid back William NJ Ivins, special counsel OF
the Public Service Commission, asked Mr.. Gaynor
a number of questions After the hearing Mr..
Twins said that the OF money from operating
receipts for capital account was not unusual, and
that it credtable, the money might have
been paid out in dividends.
II also brought out that the Interborough-
Metropolitan owed the Rapid Transit Construction
Company, whicn built the Brooklyn extension of
the subway, g. 431. .3os Il on account of the
cost of the work over the contract price. Already
s. 100000 has been paid in excess Of the contract
Before adjourning the hearing for week Mr.
WINS suggested that the company be required to
nle statement of what moneys would be needed
i'll the way of operating expenses interest and sink
ing rund to finish the current year. This, he said
would enable the commission TO Judge whether the
company might not be forced to put out more
than the proposed sao,Oo00oo in bonds in order to
meet the obligations maturing before January l.
1903
New-York tribune., 1908-03-17

*Before charging of depreciation ard after allowing
preferred dividends the surplus s624- -310 available
for common dividends is equal 20 so per cent on the
So,3T5.3o outstanding Charging on s2'1l1b Tor de
probation for dividends would equal
Ssa3 ia. 5 53 per cent
President W. o. Baldwin, in his annual report
10 the stockholders. that the years business
has been the largest in the history of the COM
pany, only in the volume. but also in the net
profits. The large amount OF uncompeted work
carried over from 1896 together with the increased
sales in 1851 is reflected in the increased inven-
tories OF merchandise hand, which includes
work in process of completion. During the first
two months of 1908 the liabilities been
reduced about $4,000
President Baldwin explains that the decrease Of
g70670 in the plant account IS due to the policy
OF the management working down the estimation
OF the property a figure which represents ebso-
Lutte value. The present value placed upon it is
within 800 that OF 1902. despite the fact that
in the interim there has been expended several
millions the plant.
New-York tribune., 1908-03-17
ORDERS BLANKET RECEIVERSHIP.

by Telegraph 10 The Tribune
Baltimore. March 16-Judge Norris, in the United
States Court to-day signed order extending
the receivership of the Western Maryland Railroad
cover all the property real and personal rights,
privileges franchises and assets Of every descrp-
tion, whether tangible Intangible, covered in
the original order, naming B. F. Bush receiver.
The order also enjOined the railroad company and
all persons firms corpora tions etc from t1terfer-
ing with, selling, attaching, levying upon dis
bursting these assets The order was signed on a
petition filed BY the Bowling Green Trust Company
Of New York, the original petitioner. The attor-
neys obtained Judgment by confession against the
railroad company for s32,5se representing money
loaned
New-York tribune., 1908-03-17
DID NOT SUFFER IN LEAN MONTHS.

Al the annual meeting OF the stockholders of the
Sono and Mortgage Guarantee Company, held last
week Charles g. Brown, because Of pressure of his
private business. declined reelection as president
and Waioron P. Belknap who has been secretary Of
the company and in active charge of its office was
elected president. The other officers were re-
elected, and John L Sherwood. the assistant Sec
retary. was made secretary.
The annual report showed a successful year not
SO much in net profits earned, although these ex-
ceeded those OF any preceding year but rartic-
ularly in the manner in which the company mort
gage business had come through the strain of the
last three months OF 1907. The capital stock sur
plus and undivided profits of the company now ag-
gregate &c, 0G3. ST.. 30
New-York tribune., 1908-03-17
WESTERN MARYLAND COMMITTEE.

The committee OF The Western Maryland Rail
read Company general lieD and convertible bond
hoiderE OF which Richard SUtro Is chairman, II is
announced already controls over 70 per cent OF the
entire issue Of these bonds and about onethird OF
&c STOCK. and has received promises OF further
sUPpo~r By the terms Of the agreement the securi-
ties may b withdrawn without charge or expense
uPon dissent from any plan Of reorganization that
may oe finally submitted. Application viii be made
70 TIE New York Stock Exchange 10 admit deposit
oert4dcstes 70 quotation
New-York tribune., 1908-03-17
GREAT NORTHERN IRON ORE.

The trustees Of the Great Northern Iron Ore
properties nave issued 10 the certificate holders
statement Of the operations OF the trust for the
first fiscal year which ended December Z, 1907
The statement shows total receipts OF 81 600 for
the wear from which deducted $S7, 80. the
expeuses Of administering the trust and s1.500 009
distributed to certificate holders September Is.
1907 leaving balance of undistributed income
amounting 10 $3.50 On February !, 1905, the
trustees collected dividends which TO be applied
under the terms OF the trust agreement, TO the
amount of &
New-York tribune., 1908-03-17
800" LINE INCREASES DIVIDEND.

Advices from Montreal yesterday announced that
the directors of the Minneapolis, St Paul Sault
Ste Marie Railway Company, commonly known
as the 500" line, had increased the senni-annual
dividend on the common stock from TO per
cent The dispatches also stated that the direc-
tors had declared the regular seni-annuai payment
Of 32 per cent the preferred The common stock
has been on a I per cent yearly basis since l9O3
The 500" line is controlled through stock owner
ship by the Canadian Pacific Railway Company
The common sold at 1o5lz in Toronto yesterday.
New-York tribune., 1908-03-17
ALL COPPER PRICES ADVANCED.

On the local Metal Exchange yesterday the price
of all grades Of copper metal advanced II
OF q cent a pound. This the fourth advance
in the last days. Lake copper was quoted at
12Ts a pound. electrolytic at 1224 cents and
casting 12ss cents. There were reports CT sales
Of electroIytic at l3 cents pound
New-York tribune., 1908-03-17
STATEMENT OF NoN-MEMBER BANKS

The weekly statement of averages OF the banks
OF New York City, Brooklyn, Jersey City, Hobo
ken and Staten Island which are not members
Of the New York Clearing House Association but
which clear through of its members is as
follows:
New-York tribune., 1908-03-17
Public Notices.

DURsUANT TO STATUTORY RBQCIREMENT No
i Is hereby given that an act-Senate No $50
INT No 3O9-has been passed. by both branches OF the
Legislature. entitled
AN ACT
TO AMEND SECTION EIGHT HUNDRED AND
NINETY-SEvEN OF THE GREATER NEW YORK
CHA RELATION TO REMISSION OR
DJ-CTTON OF ASSESSMENTS
Further notice hereby given that Public Hear
ing upon bin viii be held the Mavors Ofice
the City Hall. IN The city Of New York Wednss
laV March Is 1aGs. az u 80 o'clock A NJ
DateI city Hall New York Mar Il. zoos
GEORGE 3 MCCLELLAN.
Aaycr.
New-York tribune., 1908-03-17
OTIS ELEVATORS YEAR.

The Otis Elevator Company has issued its
nual report for the year ended December 81 1907.
The income account compares as follows: