davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1907-06-28
NO LOAN TO ALTON YET.
But L. p. and Rock Island Haze
-4greed to Take Notes If Issued.

Robert Mather. president Of the Rock Island
company. the holding company for the Rock
Island lines, said yesterday that the report from
Chicago that the Rock Island and Union Pacific
Railroad companies had lent the Chicago & Alton
Railroad 81 10000 for improvements and had
agreed 10 a further loan, IL necessary. not 10 ex-
ceed 100000 incorrect He said the report
was probably based the fact that the Rock
Island and the Union Pacific companies had agreed
10 take the notes of the Chicago * Alton. If any
not 10 exceed 81 686O0O be used to pay for new
work and Improvements that could properly
be paid out Of the earnings.
OF this amount, Mr.. Mather said, F II Harri-
man for the Union Pacific, had agreed to take
81 00N 900 and the Rock Island S6e6 0oo Asked why
Tho Union Pacific stll willing TO lend money
to the Alton that the agreement for Joint CON
troll Of that road ny the Rock Island and Union
pacific had been abrogated. Mr.. AIather replied
that the latter company stu owned the majority
of the preferred stock of the Chicago & Alton and
and that was sufficient reason why it should be
willing TO LEND money TO the road. though IL
M longer had 81 voice in its mana cement.
At a recent meeting Of the Chicago, * Alton di-
FACTORS the financial requirements Of the company
,.,,h resrect 70 new work for the next two wears
v,arn presented and carefully considered. II
eetin1ared that the amount needed for this work
would he about 600. and a tentative agree
r,ent was entered into with the Union Pacific and
cording 10 Mr.. Mather. He specifically stated
however that no notes had yet been issued by
the Alton and loan made by the companies
mentioned. and that Il was not likely that any
money would he needed for the work before Janu-
arv / 1908.
New-York tribune., 1907-06-28
TO WELCOME BOND ISSUE.
Bankers Appear Ready to offer Par
for Ne1c CitY I Per Cents.

Although II IS a somewhat inopportune time for
the fotaton OF new securities. the opinion was eX
pressed in many bond houses yesterday that the
city bond issue Of so concno per cents subscrip
tions TO which Will he opened to-day by the Con-
troller, would be successful II Is thought the en-
issue viii be taken at par, slightly above,
and IN view Of general conditions in the invest
ment markets par ought 10 be considered salts
factory quotation. bankers say.
Bond houses while expecting TO dispose Of
this Of bonds the public at once, believe
then purchases vii! turn out pTohtaby. the
credit Of New York Is such to warrant G price
well above par for a per cent city security under
normal market conditions.
Needs for financing in the case OF New York
City and other municipalities well in that OF
the great railroad corporations. have caused big
congestion in the bond market, but bankers say
they beginning 10 some promise OF
being relieved by investors of a part at least, OF
their burden Within the last fortnight there has
been slight Improvement in the character OF bust
ness in bonds. and this is taken a sign that the
forthcoming city bond Offering Will be successful
The Offering OF per cent city bonds last February
concerned.
good bid from Chicago firm for the entire
amount. Whether a bid that is known can be ac-
cepted is a question, the law reads that all bids
must be sealed and placed in box, to be opened
in public at an appointed hour.
II. Jones Of Crawford, n j." wanted the entire
lot and sent a check for 100000 on tho Crawford
National Bank. but it uucertiAed. The Con-
troller laughed and said he thought he wouldn't
worry about that.
New-York tribune., 1907-06-28
DOLLAR WHEAT AGAIN.
Report Of Statistician Responsible
for Unexpected Jump.

Chicago June 27.-Wheat to-day went above the
dollar mark the September option selling on the
aoor Of the Board of Trade for 81 and the Deem
Der delivery for 81 03l3 The sharp advance was
unexpected to the majority Of traders. and II came
with startling suddenness. The advance was
caused by the report OF statistican, who last
April estimated that the winter wheat crop would
amount TO 325.ol90Do bushels This estimate was
based on the expectation that Kansas would pro-
duce 60D}0O6o bushels. A supplemental report was
issued by the statistIcan declaring that the crop
VIII probably fall 100000 bushels below this
amount because Of the damage sustained in
Kansas.
This statement caused shorts TO cover actively
and there only little wheat for sale the
price advanced rapidly. Much of the advance was
lost because Of profit taking sales the final Quota
toEs for September and December being, respec-
lively, 99c and 81 01%
New-York tribune., 1907-06-28
OIL MEN SUBPGNAED.
RockefeIlers, Archbold, Rogers and
Others Summoned to Chicago.

Chicago, June 27.-Subp9nas were issued to-
day in the United States District Court, returna-
BILE on July 6, for the leading officers of the
Standard Oil Company of New Jersey. Sub
poenas were also issued for the officers OF the
Standard Oil Company Of Indiana.
The officials Of the Standard oil Company n
New Jersey for whom summonses have been
sued are: John u. Rockefeller. president, Will
lam Rockefeller, John D. Archbold and Henry H
Rogers. vice presidents; ". II. TilfOrd, treas
urer; G. NJ Pratt, secretary: William ?. Howe.
assistant secretary, and Charles T. White. assist
ant secretary
The following ofHcials Of the Standard OIL
Company Of Indiana have also been summoned
to court on July s. J A Moffett. president;
W. Z. Cowan. Vice president, and 9. w. Stahl.
secretary and treasurer. H Z. FELTON, president
of the Union Tank Line. and F. A. Wan. former
general freight agent II the Chicago & Alton
Railroad. have also been served with suhpTnas
The issuance Of the subppnas was the direct
result Of the refusal of the attorneys Of the
Standard on Company yesterday 10 supply
Judge Lands. of the court, with information he
requested regarding the financial condition OF
the company The attorneys declared that the
Information should have neen sought AT the
time Of the trial and that the request Of
Judge lands was extra judicial and unwar-
ranted The Judge replied that he entitled
10 the information and intended 70 have it,
and directed District Attorney Sims 10 prepare
subppnas for any officials Of the Standard oil
Company. Of Indiana or for any Of the officers
Of the controlling corporation Of the Standard
oil Company who might. in the opinion of the
District Attorney. have the Information desired
by the court
The Standard oil Company was indicted in
the federal court the charge of using illegal
freight rates rendered TO IL by the Chicago &
Alton road and. after a long trial. found
guilty on I462 counts Of the indictment
4 maximum fine of 500 600 is allowed each
count of the Indictment, making totsl possible
fine against the company of $29,24000O. Be
fore passing sentence on the company. Judge
Lands announced that II his custom 70
proportion the fine according 70 the financial
condition Of the person or corporation convicted.
and asked for specific information regarding the
financial condition OF the Standard oil Com
pany. This information he has been unable TO
obtain up - date and the subpPnas issued to-
day were the consequence.
II said in the office Of District Attorney
Sims that the subppnas will be sent East for
service at once.
New-York tribune., 1907-06-28
CIR BUILDING PROFITS
Doubled in the Last Year, as Shorcn
IN Report Of 4. G. & z. Co.

The enormous increase in the rolling stock of
the railroads IN the last year s reflected in the an
nual report Of the American Car and Foundry
company. which shows total earnings Of SII ll6 os7
against $564s,553 In the preceding year and net
earnings Of S9,347os7. the latter showing an In
crease Of S5l8a634 After the payment Of divi-
dends there surplus Of IS 43e 58G which com
Iares with Sl25765o in the preceding year and
S7-sllA in the year before. The balance after the
payment of preferred dividends was equivalent 10
2ll8 per cent on the common stock
The company IS in fine financial condition hav-
Ing on hand a working capital Of moro than ST.
10000. There Vas time in the company's last
fiscal year when il could not have made delivery If
a large number Of cars within three months from
the date Of the original order provided it had been
possible to secure material n time 10 meet re-
qurements, and the president of the company
Frederick II. Eaton, estimates that II this latter
condition had prevailed the output of cars would
have been . per cent more than Il was Al
the close Of the compenys year II had its books
more work than az any time IN its history
At the annual meeting OF the stockholders yester-
day 4. Barton Hepburn. president Of the Chase
National Bank was elected a director. in place Of
Walter J. Mcbride. who recently resigned Will
lam NJ. Hager formerly assistant secretary Of the
company, has been elected secretary to succeed
D 4 B!zby. Clarence Price has been elected a
vice-president OF the company. All Of the other
officers Of the company have been reelected. The
executive committee is composed OF Frederick Il
Eaton, c. r Woodn and II r Duval.
New-York tribune., 1907-06-28
NOT TRYING TO CORNER COTTON.
T. H. Price Says Movements Are Due to
Natural Crop Conditions.

Theodore II Price said yesterday that he is not
irving To corner the cotton market. reported.
hui is merely buying the product a commercial
operation He gave his opinion of the situation as
follows
Il notice a story OF August corner. with
which my name is connected, in one of the morn
ing newspapers. ! desire TO state that l am un-
altera hlv opposed 10 corners. and that far as
I am concerned, corner is under contemplation
With what others may do have no concern and
no knowledge. l believe cotton is destined TO sell
much higher especially for July and August de
lveries.
IT is upon the basis of the outlook that a group
of investors have acquired and expect 10 hold q
considerable quantity of spot cotton in the New
York market. and unless conditions change this
cotton will held until 1t is in request from spin
ners.'
New-York tribune., 1907-06-28
CHICAGO GRAIN AND PROVISIONS

Chicago. June 27.-In sensational advance
caused by the covering shorts the price Of whea
to-day shot past the dollar mark the December
delivery selling at 81 o3i4. At the same time the
September option sold at 81 even Part Of this
advance was subsequently lost on realizing sal
At the close September wheat up Sa4 Decem-
ber wheat 37sc higher Corn was up 7sc oats
24c higher. Provisions were &c TO 7Iac 10 1Oc
to l2lac higher.
The sharp advance in wheat took place in the
last hour Of trading and the elimination OF
numerous reports regarding the alleged serious
shortage Of wheat in the Southwest. The situa-
tion to-day contained no features but when a
few shorts commenced TO cover about the noon
hour they found the market almost bare of offer
ings. This frightened other shorts and I'm an in
stant there was wild scramble for what little
wheat was offered for sale From duh. dragging
affair the market became one OF intense excite
ment while prices rose &c 10 PC at a jump. When
the September delivery touched 81 and Decernbar
brought about quick decline. September dropping
TO $3.50 and December 10 81 OF. The close. how
ever, strong. September opened lac lower 70
isc higher a. 95lsc 10 952sc sold off 947.c and
then advanced TO 81. The close was at 99c De-
cernper sofa between S'7sc and 81 O31a and closed
at 81 0l@s. Clearanoes of wheat and -four
equal to 252 100 bushels Primary receipts were
5s4 900 bushels. against 266 600 bushels the same
day last year. Minneapolis Duluth and Chicago
reported receipts Of 357 cars against 259 cars last
week and POP cars year ago.
The market bullishIy affected by the
bulge in wheat, prices advancing about l cent
during the lest hour Of trading Further reports
from the Northwest that the crop is very back
quiet early In the day but later became very active
The close was strong September opened unchanged
to &c high1r et 53lsc b3i4c, advanced 10 safe
and closed at 54c Local receipts were 427 cars.
including So Of contract grade
Trading in oats quiet early in the day but
later the market advanced along with wheat Crop
from Illinois was bulish. new species Of
bug being reported in the fields Of this state
September opened unchanged 70 Lc higher 37Isc
372sc. sold off TO 36s4c TO S67sc. and then
vanced to 3Sc. The close was at 377sc. Local re-
ceipts were 12s cars.
Provisions firm all day fair demand
bv local packers Al the close September pork
was up Zoe 12lsc SIC 32i6 to SIS 35. Lard was
up 10c at 50 07l2. Ribs &c 10 712c higher at
IS So.
Estimated receipts for tomorrow: Wheat. 21
cars; corn. $50 cars; oats. 15o cars; hogs 5000
head.
New-York tribune., 1907-06-28
To Whom 1t May Concern.
THE TTIRTY-FOTRTH STREET NATIONAI- BANE
OF NEW YORK. Al WEST 34TH STREET

THE IHIRTY-FOURTH STREET NATIONAL BANK
OF NEW YORK. Al WEST 34TH STREET
-, New York. June g. 1907.
You are hereby notified that special meeting
stockholders of this Bank held
Association, IL West 34th the
haitian n the City Of New York day July
1907 at o'clock p. NJ a resolution
to place this Bank in voluntary liquidation effect
upon date 10 be named In said resolution which
hon % VIII be In substantially the following form:
Resolved. That The Thiry-Fourth Street National
Bank Of New York be placed in voluntary liquidation
under the provisions OF Sections 622O and 522I
United States Revised
effect July 1907
resolution will be introduced for action by said stock
holders in substantially the following form:
Resolved That the Board Of Directors and the proper
ers OF this Bank be- and they hereby
l9stIucted to organize Bank under the laws OF the state
OF New York. 70 be known NEW NETHERI4AND
BANK OF NEW YORK 70 succeed and
business o this Bank that the Directors be and
hereby are authorized certificate ncor
poration Of said New Netherlaud Bank Of York IN
accordance with the provisions Chapter
$50 OF the Laws of 1892 York. such
organization to be of the day Of July. 1907
And you are further notified that action win be taken
on such other matters be deemed essential In
order 10 into force and effect the resolutions bs
offered as aforesaid Yours respectfully.
CURTIS J. BEARD Cashier.
New-York tribune., 1907-06-28
UNIFORM BILL OF LADING.
Binding Agreement Reached Between Rail-
roads and Shippers at Chicago.

Chicago June PA binding agreement between
shippers and the railroads, the dream of American
commerce, in the form of d uniform bill of Iadng.
practically has been agreed upon. Representatives
Of commercial interests and ali the trunk lines of
the country have settled upon the form Of the new
bill and the Interstate Commerce Commission ha )
concurred It VIII be submitted for the ratification
of the railroad ana commercial interests of the
country early in July.
The effect of the ratification will be 10 make the
now bill Of adiuG a part Of the interstate COM
rnerce law The shippers then viii have n railroad
receipt binding the carriers. The negotiations
have been carried thus far by railroad repre-
senratives and members Of the board of directors
Of the Illinois Manufacturers Association and the
American Shippers Association.
The hin will hold the initial road and its
connections liable for a shipment from the time II
IS delivered the company until II is delivered TO
the consignee AT its destination.
New-York tribune., 1907-06-28
CONFER ON NEW RAIL.
Railroad officials Demand Better
Product from Steel Men.

The conference of railroad officials and steel rail
manufacturers which. announced In The Trib-
une was called by +, H. Gary chairman Of the
United States Steel Corporation 10 examine plans
and specifications standard steel rail Capa BILE
Of meeting present trafic requirements was held
yesterday at the offices Of the steel corporation, at
No Il Broadway The presidents or vice presidents
of most of the railroad systems and all the rail
manufacturers in this country Canada attended
the conference which lasted several hours but. so
far could be learned nothing definite was de-
cided upon
II was announced however, that another meet
ing would he held at n date to he fixed by the
chairman. Mr Gary at which the report OF the
joint committee appointed recently by the American
Railway Association and the rail manufacturers
TO devise rail equal 10 present day needs would
be submitted and the specifications for rail prob
ably agreed upon. The only official announcement
what took place at yesterdays conference was
contained in the following statement issued by MT
Gary:
a meeting was held at No Il Broadway 70 con-
slider the character quality and Of steel rals
There represented by presidents or Vlce-presl-
dents nearly all Of the railroad systems Of this
country and Canada and all of the manufacturers
OF rails of both countries The importance Of pro-
ducing and using all times rail capable OF
meeting the requirements of traf1c, however great
was recognized by all, and both the railroad Of
fcials and manufacturers discussed the various
suggestions which have been made in that dtrec-
ti0n. The meeting in every way harmonious
and friendly 1t decided 10 request the joint
committee Of experts heretofore appointed pE 'Ae
American Railway Association and the manu-
facturers OF rails respectively to report their con-
Clusons for consideration at adjourned meeting
Of the rail manufacturers and railroad officials at
a time be fixed by the chairman of the meeting
There seems to re doubt that the manufacture
and purchasers will reach a conclusion that IS
satisfactory both and which will be approved by
the public
The conference yesterday was called by Mr- Gary
result OF complaints that were made by the
railroad systems that rails were breaking all over
the country. and because OF the threats Of certain
large buyers of rails To follow the example set
hv L II Hartman, and buy their rails from inde-
pendent companies unless the United states Steel
Corporation improved its output
One Of the important changes said 70 have been
recommended by several Of the railroads that
least = per cent Of the upper part Of the steel
ingOts from which the rails made should he
cut off ana rejected instead of 10 per cent as at
present. This would add to the expense n manu-
factUre hut II is understood that the rail cowpq-
MES willing 10 turn out rails IN accordance
with the Specifications drawn mp by the railroads
II the latter willing pay for the added cost
OF manufacture. which IS estimated at s. ton.
The present price Of the standard rail IS s8 ton.
New-York tribune., 1907-06-28
Texns CentrnI RaiIrnnd Comnanr-

semi-annual dividend Of Two ana one-halt per cent
the Preferred stock and also q dividend OF Five
cent on the Cosmon Stock Of This Company has been
declared OF the earnings OF tho payable
the Farmers Loan Trust Company 18th July 1907
The Transfer books FOR the Preferred and Common
stock OF this Company viii be closed a 8 9th
July. 1907. and reopen at 10 a. 18th July. 1901
y. COMYN MORAN. Assistant Secretary
New York. 25th June 1907
New-York tribune., 1907-06-28
Dividend Notices.
The Missouri Pacific RAILWAY Co.
6-fh niNidend

le5 Broadway. New York May 22ud 1907
A annual dividend Of Two Dollars and Fifty
Cents 81 500 each share OF stock ot this Company
has been declared payable at the Office of the Com
Pany, No l95 Broadway. New York city July 10th.
1907. stockholders Of record business
June 2Oth, 1907
The stock transfer books be closed a three
o'clock 7. NJ on June 2oth. 1907, and reopened
O'Clock A NJ July 22rd 1901
A II CALEF Treasurer
New-York tribune., 1907-06-28
FoRElou GOVERNMENT SECURITIES

BID. Asked.
Cits OF Nun IS 100 1905
C.tv u As~s A. 99Z l0qH
= II F-0n-G 8 IS a2ls 04:.
c.tv cf Eicans 4 81 aTlz
Alax 1eT gold Ds.Ioo1z Ioli4
New-York tribune., 1907-06-28
LAKE SHORE 8 MICHIGAN SOUTHERN RY. co.

tiTand Genital Sfafi0n. y Y. june ?.
The Board Of Directors this Company
day declared a dividend OF SIX PER CENT on its
Common Capital Stock payable at this once July
1907 TO stockholders Of record at O'Clock P NJ.
CHARLES = con. Treasurer
New-York tribune., 1907-06-28

7si9. AFFcd.
Bey eDas sLs % % u
ssv zovt 4. l0o 10Jts
nssrisa q 3izs. S3a 49,
-sH>ry govt ef. So 49,
slas xo-t Be SIX S4ts
y 9 SSsogas a. esz 1905.
New-York tribune., 1907-06-28
THE CHATHAM NATIoNAL BANK.

4 quarterly dividend Of four per cent his CAY
been declared by the Board of Directors payable
next until which transfer vii
be closed II T. DOREIJS. Cashier.
York June 2lst 1907.
New-York tribune., 1907-06-28
NATIONAI RIsCI,Ir CnNIpANY

The regular quarterly dividend ONE AND ONE
QUARTER PER CENT. the Common stock has been
declared payable July 18th. 1901 TO stockholders II
record the close OF business 2sth. Trans
fer books will be closed from June 10Th, 1907 July
18th. 1907. both inclusive
z RrGREE Treaslrs-
New-York tribune., 1907-06-28
MInnennolIs q st. Loni. Railroad Co.

Coupons due July l 1907. from First Mortgage fou
per cent Guaranteed bonds of the pes Moines < For
Dodge Railroad Company will be paid that a
the Office Of the Ceutral Trust company. New York.
} srlrsr
New-York tribune., 1907-06-28
PHILADELPHIA STOCKS.

FURNISHED ly Charles y barney & Co. No % Broad
street New YORK. and No ~ South 4th street
New-York tribune., 1907-06-28
AMERICAN CAR AND FOUNDRY.

The annual report OF the American Car and
Fo-rdrv Company for the year ended April 3d.
1917. IS at hand. The income account compares AS
New-York tribune., 1907-06-28
CANAnA snrrHERN RAILWAY 40.

Grand CentraI Station \ = = June Y 1901
TER PER CENT on the Capital stock of this Com
pany be PAYABLE this once August 1st, 1907.
stockholders Of record at 3 o'clock 2 NJ. Friday.
June 2Sth. 1907 CHARLES = cox. Treasurer.
New-York tribune., 1907-06-28
DiUidend Notices.
WESTINGHOUSE
THE ORTESTAL BANk,
MULTIPHoNE OPERATING COMPANY.

The Board Of Directors has ths day declared from
earnings the tenth regular monthly dividend Of
per cent on the par AT Jhe rate ot Il per cent per
payable Monday. July l. 1907. al
stockholders % record May 81. 1901 l4I Broadway.
New York city
New-York tribune., 1907-06-28
CLEVELAND. CINCINNATI. CHICAGO s sT- LOUIS
MICHIGAN CENTRA!. RAILROAD 90.

GT99d central station, \ y, June Z 100.
day declared dividend Of THREE PER CENT on
i;s capital stock PAYABLE this Office July 29th 1901
stockholders oS record o'clock 2. NJ Friday
June 2Sth. 1907 CHARLES T. COX. Treasurer.
The Fairmont West Virginian. (Fairmont, W. Va.) 1904-1914, 1907-06-07
Nc Prejudice Aaalns. Wealth.

ST. Louis Republic.
Americans have mo- prejudice
against wealth. Most Of them are ar.
dent seekers Of It, and not a few find
II. But in the game Of money getting
they wan, square deal and honest
play. II IS only when they believe
that the deal Is not square and that
they are cheated in the play by
shrewder or more resourceful rivals
that they raise an outcry. aud insist
upon new laws. 10 enforce the rules
OF the game. Sometimes the people
are mistaken in the belief that great
combination Of wealth Is not dealing
fairly with them, but the mistake
should not be made Of Imagining that
the antitrust legislation Of the last
few years has behind It any other
force than the popular belief that Il
Is necessary IN order to protect popu
lar rights.
The wisdom and the justice OF some
Of these laws remains TO be tested by
experience. Nobody but an expert In
passenger tra5c, for instance. knows
in exactly what localities aud under
what conditions laws requiring rail
roads to carry passengers at two cents
mile are equitable. 1t may readily
be believed that in some cases they
fare unjust. But II is not for theiroads
, 10 attribute such laws to a malicious
desire on the part Of the people to In
lure them. Laws found to work un'
justly in the effort to obtain Justice
from monopolies will be repealed by
the legislatures or corrected by the
courts. 1t is constructive, not destruc'
tive. legislation that the people OF this
weal,h.seeking country desire.