davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1908-06-12
GARY NOT TO RETIRE.
Also Denies That Corey Had FaU-
0red Drop in Steel.

Ex-Judge E. H. Gary, chairman of the United
States Steel Corporation, denied yesterday re-
ports emanating from Pittsburg that President
William E. Corey had all along advocated re-
duction in prices of finished steel products and
that he (ex-Judge Gary would retire from the
Steel Corporation and resume the practice OF law.
After reading the reports which also 1ntluateo
that there had been dissensons among the effleers
Of the big corporation, ex-Judge Gary issued the
following statement
Mr.. Corey has not favored any reduction In
prices at any time However if he had been
present during the late conferences he T99ld s un
ciates. Mr.. Gary has intention Of resuming
eli law departments Of the Steel Corporation
in frequent consultation with him. There are
ton The relations between all the officers OF the
Steel Corporation and SUBSIDIARY companies ana aa
friendly and harmonious. It is pleasure to be
connected with the industry.
It was learned on good authority yesterday that
of the largest Independent iron ore companies
would shortly announce further cut in the price
of its product and that another lowering Of prices
In finished steel would probably follow. One big
consumer said that the reductions already made
had not been half large enough, and would not
stimulate any great amount of business He added
that he had been reliably informed that the in
dependents favored cut of from s. to $40 in all
finished products except rails and that he fully
expected prices to be reduced to that level in the
future
In other quarters it said that reports OF
further cuts without foundation and that the
price reductions made last Tuesday would be final
for time to come In this connection 1t was
pointed out that some of the leading independent
representatives of the trade, including Charles M
Schwab president of the Bethlehem Steel Cor
poration: Willis l. King, vice-presdent of the
Jones & I,aughlfn Steel Company and E. A. s.
Clarke, president of the Lackawanna Steel Com
pany, had been among the strongest supporters OF
the harmony policy advocated by Judge Gary
New-York tribune., 1908-06-12
CHICAGO GRAIN AND PROVISIONS

Chicago June 11--Crop damage reports from the
Northwest and the Southwest caused strength to-
day in the local wheat market, the July delivery
closing at a gain of sc to sc Corn was up 1sc TO
14c Oats 1sc higher. Provisions were f717c
10 Csc higher.
The wheat market was irregular and unsettled
The opening was weak because of more favorable
weather conditions In this country and a decline
of more than Id at Liverpool Before the end OF
the first half hour the market .@came firm on buy
ing bv several leading commission houses. The
demand was chiefly for the July delivery. and that
option showed the greatest strength. Reports of
damage to the new crop by excessive rain IN Kan
sas Oklahoma, Texas North Dakota and Minne-
the bulish influences. scattered real
iziug sales caused a reaction from the high point
Of the day. The close was firm. July opened $50
to nc TO 5c TO &c lower at s55sc to S5sc, advanced
TO s7a,c to S71sc and closed at 871sc Clearances Of
wheat and -four equal to 10000 bushels. Pri-
mary receipts $4,000 bushels, against 35S,oO0
bushels on the day last year. Minneapolis
Duluth and Chicago reported receipts of 207 cars,
against 142 last week and 31s cars year ago.
The corn market was inclined to be weak early
io the day, owing to improved weather conditions
and the break in wheat. 1t rallied, however, be-
fore the end OF the first half hour. and continued
steady for the remainder of the session. The pre-
dctIor ot more rain Tomorrow in sections OF the
corn belt was a steadyins factor. The market
closed steady July opened a shade lower at &c,
sold off TO 662.c to 667sc, and then advanced to
6714c The close was at STAG Local receipts were
2al ears with l9 contract grade.
renewed liquidation of the July delivery caused
moderate weakness in oats early In the day but
er,7er tone soon developed on covering by shorts
III, o,ened lac higher at 42lsc. declined to 41asc
and ther advanced 20 42lsc Inc ciose was at
a9ILc Ioca receipts were l22 cars.
Provisions were active and strong on buying by
,ocaI hackers and a 10c advance in live hogs At
- c1ose July pork up Csc at S14 %. Lard
Igas 17Isc higher at IS T7h TO So go Ribs were up
I7I5o TO zoe at 81 72l3 20 s. 10.
Estimated receipts for to-Tnorrow; "heaI, -
oars. corn. s09 cars; oats. 1Os cars hogs, 22,oOo
New-York tribune., 1908-06-12
ANOTHER WESTINGHOUSE APPEAL.
sssrshuders Urged to Subscribe for New
Pro Rata Stock.

7hs siockhOlders' committee Of the Westinghouse
Tss;fs snd Manufa curing Company has sent an
che circular 10 the stockholders urging them 10
srf ths- subscriptions for their pro rata shares
:, fss rev asserting stock. under the terms of
ths ns-czn6se creditors plan, before the expira-
i'm sf ths time limit on June %. Accompanying
fss crculs- Is a COPY of A letter from the conf
rzrTs ru#sel giving their opinion as 10 what
szzS r. the legal procedure in the event OF a
ar7sE sele of tie company's assets and their
-z-ssr 40 a new corporation. which would nee
s71v Follow The failure Of the merchandise cred
n plan.
Is counsel say that the factories and the tan
rs personal property at the factories would
7shly have - be sold ~ public auction. and
~ would have to BE- separate sales Of the stocks
r han6s and other sr-called investment assets
3 that the holders of the Two issues OF collateral
izn would be entitled to compel sale Of the
aztsral pledged Is security Cor their notes. They
uIsct the accounts and bills readily collect
r. and that in their opinion il would take at
hr year 10 consunmate a reorganization Of the
HHBaHy.
4 was announced yesterday that Edwin f At
fE prominent stakeholder Of Boston, had been
tisi 10 the stockholders committee Aovlces
~ pittsbure said that George Westinghouse had
G1Hsed z letter 10 the stockholders, suggesting
T. they sell { portion Of their present holdings
meet the FIRST payment on their new subsc1iP-
New-York tribune., 1908-06-12
SENATE FINANCE COMMITTEE HERE
Meets at Plaza to Prepare for Expert Investi-
CATION of Monetary Affairs

A brief session of the Senate Committee on Fl
nance was held at the Hotel Plaza yesterday TO
consider what action should he taken under the
Senate resolution adopted on May Is last
This resolution authorized the committee to cali
to its assistance experts in the executive depart
rosuts of the government and It IS especially di-
rected to report what further legislation is neces
sarv to get equitable treatment for the asricult-
uraI and other products of this country in foreign
countries and TO obtain proof OF the relative cost
of production in this and in principal competing
foreign countries Of the various articles affected
hy the tariff on which changes in rates Of duty are
advisable.
Three Eub-conmittees were appointed. follows:
First to consider what further legislation is neces
sary TO get equitable treatment for the agricultural
D6 oil her products the United States in foreign
countries Senators Aldrich (chairman), Allison,
Hale Daniel and Teller: second, TO consider what
legislation is necessary obtain more efficient ad
rninistration of the customs law, including ques-
tious of classification, Senators Burrows (chair-
mani Hansbrough, Plat Hopkins. Bailey Money
and Taliaferro and third consider what
changes in customs rates desirable and TO get
,roof of the relative Of production in this and
the principal competing foreign countries OF the
various articles affected by such changes, Senator'S
tIonlxins chairman Burrows. Penrose, Money and
Taliaferro.
Senator AIdrich said these subcommittee would
meet later in the summer TO carry on the invest-
cation. assigned TO them.
New-York tribune., 1908-06-12
eoFF 1NsrRuCTs ICE TRUST JURY,
Answers Questions Regarding Law on fe
straint of Trade.

The special grand jury impanelied on May -
investigate the affairs Of the so-ceAieo i0e -
apnlied Yesterday to Justice Con Tor ihioi in
Ty,o Questions were asked the first peing'
IF two men enter into contract WnersI1 a tIr gro
agrees TO sell his business to tne oI4ti Ii,a or
Tber agrees not to come again lnto S Ina. iaU a
trade For certain time, is that under Id" q
crime in restraint OF tradeE
To this Justice Gef replied:
cbsrss Won that that is contract in RESTRAIN. I
Of trade and that it comes WITHIN lIt lsm o &c fo
Si,biect You have no concern WnateNeI SS
Irhather ouch contract benefits or Injuries u
nails or the community in general Nnetuei = a 81
not the contract deals with the necessities aS
notbinS to do with the To quote an @ oIu
tbinr that prevents this competition Guar @ p 70
Won by the law is restraint of trade Inc ] laH hen m
fbe snbiect covers all conditions that nave peeH
merged in the statute the subject
The second question was If a person VINO en-
tered into such contract violated the law, and
Justice Golf answered:
tt is never legal, under this law, to sell ouk d
b,,einess and agree not enter into II again iot
certain length of time for that IS reslrdI4L "
fra6e II makes no difference whether contra CT
is reasonable or unreasonable if you have the
rroof that such contracts have been entered lnto-
I charge YOU, as matter of law, crime mas
been committed
Later in the day the foreman held whispered
conversation with Justice Goff who was In con-
ference with James w Osborne. the special Dep
utv Attorney General appointed TO investigate the
;os trust The grand jury theT. adjourned until
exf
New-York tribune., 1908-06-12
NOTES OF THr MINES.

II -si Central. as = low priced stock. has SNOW
! - soengta and activity recently or the cUi 70
- ing al q cents q shows an advance oi So
a. lew days. The reason for the advance
,, sport made by the president OF the 0oiH
p -. "uo has Just returned from Cobalt, ano aIiei
!, Summation found everything IN good coii,I,
-. -as COMPANY owns ground amounting 10 81
e, l41el l. IN the most desirable part OF saS III
Sir 1Ae directors of the company VIZ 5a,a
- 49, consider the question OF q oINIos w. ~
ss1srsss o'acers CT the company are olsPoSS~ -
.e. 'oh has just been recelVed 81 '-Io
y sglas Copper Company. II THIS clls' L.
ssss Which is now being shipped non
tspss-f faaociou. Sonora, Mex. ESSAYS - sit,,er
q Ia - ounces gold and 5t0 ouhoes ;,eas of
- = making valuation al present Pi4'
u sskisla Corper Company VIII soon
ID He Installation of e copper CONVEX lis
II ea vii cost SIS, ,g00 II VIII be OF sum
s2et f~SAlE 20 convert the matte into ,',5s
4fsss 81 annual production OF z1rVspV,' - .t,e
Sszls g-Nhich is the expected output u
Z. 'npang when IA fun operation
y o1 Consolidated Mines Company hAs
x ase wears contract with the American
] sny ior The disposition OF us c"fpe-
New-York tribune., 1908-06-12
BUSINESS TROUBLES.

Petitions in bankruptcy were filed yesterday IN
the limited States District Court as follows
Voluntary Gustav A. Boehm, who lives at, at the o9
PARK House West Chester; liabilities s'ol Ez'
assets, $3.50. r,, e,Loo, g. Co rneni-
<actIrers Of road machinery with an oILSe at -
196 liberty street, by the Stearns Manu- tLlS
Conpanv of Philadelphia: Arthur j. Lock"oo4 4
and Moses P Prout, of this city Ihe ClatLlL ~
The Stearns company is s23.946 03. for materlais
fmrnished and S4142 SIS and interest on n3te;
that of Lockwood s144 Al for materials tuTnlsleu @
Merrill was appointed receiver with pond o or
e. 90 900 The assets are given as Slsd,sVi 20.
Consisting of cash hand and in bank sZ,sII 10 :
hills receivable, 1892 Sc; accounts recelVapise, s
s27 3O2 3e machinery, patterns. etc sIV. a -
stock of other companies held by Julian Schooi,
Il 900. general expenses SS.542 10; furnlture ana
Hytrres s2,O93 81; merchandise $3.50! 80. ana
reaitv 81 i Ss6 so. The real estate consists or a
factory at Kingston, \. Y. subject TO mortgage
"a Involuntary. against the Davidson Engraving
Companv of No. 1872 White street, by Thayer'
TayIor e. Griffin and others. whose claims aggre-
voluntary, Henry TONES pickle dealer at No.
involuntary against Jacobson. Barnett & Jacob
SON makers of neckwear at No $50 Broadway, by
Denzer & Nathan and others, whose claims aggre-
gate $3.50. William Henkel, jr., was appointed re-
involuntary, against Isaac Greenberg, dealer in
clothing at Nos. 1877 and 129 Beecker street by
solomon Friedman & Co. and others, whose
claims aggregate s2,724 7S.
New-York tribune., 1908-06-12
NAY CALL OUT MILITIA.
Bitter Contest OUer T'sco Cent Rail
road Rate an Missouri.
IBy Telegraph to The Tribune.

Jefferson City, Mo-, June 11.-Whether Mis-
souri's militia is to be brought into the conflict
between ten railroads and the state over the z
cent fare statute is the question that is agttat-
Ing oficialdom. If Federal Judge Mcpherson,
before whom the comes Saturday at Kan
sas City, should deny Attorney General Had
leys request for sixty days time to reply to the
application of the railroads for an Injunction
against the enforcement of the law, which the
railroads have observed nine months beyond the
ninety days test ordered by Judge Mcpherson,
it is believed the railways will Immediately at
tempt to restore the 3-cent rate on main lines
and cents on branches.
It was revealed to-day that year ago Gov
ernor Folk prepared a proclamation calling out
the militia TO enforce the 2-cent law, the issu-
ance OF which was stopped by the thirty days
test. Governor Folk is out in the state cam
paigning and a statement from him could not
be obtained tonight.
New-York tribune., 1908-06-12
LIVESTOCK MARKET.

New York, June IL 1905
BEEyES-Receipts e3 1900 head all
consigned direct slaughtcrers- Feeling nominaIy
steady Dressed beef unchanged at 100 Il
per 10 for native sides: sales choice beef to
i2c No later advfces from Liverpool London
Exports this to-day were 1900 quarters Of
beef tomorrow.
direct 10 butchers and the market The feeling
was steady and limited offerings were sold early.
Common TO good veals sold s56 81 25 100 n;
choice offered: buttermiks SO 20 city dressed
st sG10lRc 49,
29O head. including Il for slaughterers and IA
for he market making with previous arrivals Is
On saIe ELI at Jersey City Sheep were in light
plv and steady; lambs less active and shade lower
TEs Ordinary to choice sheep sold
at s3 50d SIS % per II yearings at s5ds5 70; fair
- choice iembs So 75Qs7 So Dressed mutton steady
AT ga lie per dressed lambs trife slow at IL = q
IS1ac: few choice at lac
10 0H0;s-Receipts we're AZ cars or head ineIud-
ing about half a car the market. No sales
~ fae1iu
New-York tribune., 1908-06-12
RATE WAR HURTS OCEAN LINES.
Two Discontinue Service from This Port
Because of Recent Cuts.

Announcement was made yesterday by Z. B.
Richard & Co. OF No. 81 Broadway, American
agents for the Russian Volunteer Fleet and the
>av, York and Mediterranean service of the Prince
Line that these lines would discontinue opeI a'ol
because Of the falling off Of business.
The steamers Neapolitsn Prince and the Slcllan
rrince which were in the steerase ana frelsht
business between New York and the MedlleTTa-
80 are now at Naples and will not return 10 tns
port $500 -. ,ta rate
It was said the low rates lorc lorceu us N a.
,.L +ba English and German lines in the
,-a-,,, Atlantic conference caused the Prince
-a 20 -,,r at a loss of about $1,000 a voyage
,rrs RBssian Volunteer Fleet will suspend IFS ser
TO IN Rotterdam and Aban on June II Win 'i
zanar.ure of the steamer EMERSON
New-York tribune., 1908-06-12
a-loN1L COPPER BANK ADMITTED.

Z National Copper Fank. which has been IN
pzaen for little longer than year the perloo
sAsry before q new bank can gain ADMISSION
ls Gearing House Association. was admitted
Erdsy, an5 vii begin 70 clear through that IN
E-lon ne1t week
8Ealn the last two years tWc other banks en-
ss-the STATE Bank and the Fourteenth street
'S-E-ths numbers Of which respectively are 20
l. e. T1s National Copper Banks number WlA
y Nor Including the National Copper, there
y cay torty-eight banks in the association
1bs-E cf institutions which fail 20 into liqut-
Aa1 s-e not cancelled when they cease TO be
a-aerz
New-York tribune., 1908-06-12
OFFICE OF
ERIE RAILROAD COMPANY.

New York, June II. 1908.
Pursuant arrangements between the Erie Railroad
Company Messrs. J. ?. Morgan Co., pur-
Company's right of prior redemption 1O5 per
cent?. the s150OO00 First Mortgage issued by
Buffalo & Southwestern Railroad Company rnatur-
ing July 1 next. and also extend July 1. 1915.
the 100000 Second Lien Mortgage upon the
& Southwestern Division of the Erie Railroad
maturing July 1 next The interest the extended
bonds o is payable on January 1 and
July / in each year at five per per annuu and
both the principal and the interest payable
United States gold coin of the present
weight and fneness, without deduction for any
which the Railroad Company may lawfully be required
retain therefrom. The lien of the said mortgages.
severaIly respectively securing said bonds.
will continue unimpalred according 10 the terms
thereof
The right extend above will be reserved
such holders OF such bonds may desire avail
thereof shall deposit their bonds for that
with Messrs. Morgan Co. before June so.
1905. Such bonds may not be extended by
holders will after maturity. be purchased at
by Messrs. J. P Morgan & Co.
Holders Of said bonds referred the appended
announcement Of Messrs. j. F. Morgan & Co
upon which they may have their bonds
tended ERIE RAILROAD COMPANY.
By r. d UNDERWOOD. President.
New-York tribune., 1908-06-12
EUROPEAN PRODUCE MARKET.

Iivsr,oe1 June IL Closing g-WREAT-spot No red
western winter quiet IS Sd No California steady IS
esmber Esd CoFN-spot firm: new American I kiln
oIjet II,jv 5s September nominal. PEAs--Canadian
arm Is 3D. FIloUR-wnter patents quiet. 2as 3D.
II6Ts-Tn london Pacific COAST steady fl 15sRf2 los
BfEF-Extra India mess firm 1o5s: PoRK-Prlnae mess
western arm rs. HAhIS-Short cut. Ii to 10 H.
frn1 as Sd BACON-Cumbetland cut 2s to 80 n. quiet
Ais short rib "a 10. steady. 40s Cd: long clear
r1isa1e. sht "a 10 steady Ais: do heavy. 80
20 n steady 8ss short clear backs. 1e to 20 ~
etsad, ses Sd: clear bellies IA to Is n. quiet
shoulders, square, IL TO l3 n dull 2s LARD-Prime
neIis steady. 4as Cd. BUTTER-Nominal. CHEESE
Fanadjan finest white and coored. old steady SIS TAIL
IHWyT-tms citv firm 26s Cd. TCRPENTINE-spir
ali ais Sd RosIN-Common easy. as Cd PETRO-
New-York tribune., 1908-06-12
POINTS EXPLAIN EXCHANGE INCIDENT

IEr Telegraph 10 The Tribune-l
ming en De-, June 1I.-AH announcement "dS
- a the Office Of Pierre s. Du Pont treasurer
as Z ! Dg PonJ DE Nemours Powder COM
here Today regarding The action OF me
fork Stock Exchange ia holding up the AP-
4'h ef the company TO have it's shares hs'eu-
-. a Stated that as the number of concerns ~
- - n the powder company are numerous 'lie
taon Is corresponding long. The mempers o
Sook Committee Of the New York eZchahge'
>s sumner vacations are due. requested the
rezt company II defer The matter until Sep
- tia, the application could receive proper
s-aiion. THIS was acquiesced in by the pow
'ueials. The incident it is declared. has TO
= tg. thcarcs
New-York tribune., 1908-06-12
ERIE RAILROAD COMPANY,
so Church street New York
.Tunh II. 1908

If.
To the Holders of Prior Lien Bond. General Lien
Bonds under the First Consolidated Mortgage of
the Erie Railroad Company:
The extraordinary business depression
ously affected all the railroads throughout United
States SO the earnings the Erie Rail
road that there will be deficit below the amount
sary meet charges for the fiscal year
ending While It is confidently expected
any conditions this
deficit will promptly be made good IT is necessary for the
Company temporarily TO obtain the from other
sources.
To this end. among other things it has arranged
that coupons falling any prior
to July L. 1909. may he purchased for cash and with
uninpared len deposited and pledged under the Col
lateral Indenture april 1903. additional security
for Six Collateral Gold Notes issued and
to be hereunder. thus making the notes
available to the Company means Of obtaining fur
ther cash Il required such he accepted
purchasers OF the coupons for the amounts
vanced for such purchase While temporary
will probably suffice maintenance and operation
Of the property during the calendar year it
not be sufficient the completion of ths improvements
Begun two years ago but which have yet reached
condition where they available for producing addi-
tional revenue for the Company.
1t was anticipated that the funds for Improve
ments could be provided from the sale OF
General Mortgage Bonds. but principally owing the
injury done to your Conpanys credit BY the falling off
earnings during the existing depression such
bonds not salable prohbitive prices
As these improvements all strengthen the
curity of the General Lien the General Mortgage
Bonds. It Is expected plan will shortly be pre-
pared funding the coupons maturing these bonds
for period sufficiently long to enable the Company
Of IT'S current funds complete improvements now
under and thus the benefit large expendi
lures already made which stated remain
yet unproductIve
You your coupons falling due
july I, 1908, will he purchased at par for cash BY
Messrs- ]. p Morgan e 60. presentation
thereof ON OR BEFORE JUNE so 1908 at their
office No % Wall Street York.
BY order o Directors.
ERIE RAILROAD COMPANY
BY ?. D. UNDERWOOD
New-York tribune., 1908-06-12
.utcncoaNs GREET NEW LINER.

,-a+ the American general agent OF the
FA-I - eve I dinner last night on the COM
ETencn anul steamer. the Chicago. which arrived
pah@ - spo ON her maiden passage to TINS
Aldermen and business men from Ch,osso ago
ade po,s special trip to New York 70 aa,eto a, the M
dinner H ,' l-rtcago Association OF Commerce Inc
snip pt tion speech made by George w sh'-
of the foreign trade committee
0on. The speakers were Controller Mez, Fau. s,a
arue the vicote de Cham6run, UNI TePsTopl ParoTa Gros
French AinD" ~ ard Alderman Linn H. Young oi
yenor oi"n [snrcsentins 11. the Mayor OF that city
New-York tribune., 1908-06-12
u. p. SUBSCRIPTION CLOSES TO-DAY

Kuhn Loeb Co. announced yesterday that tbs
subscription for the issue of s500o00oo Union Pa
c1c per cent first lien and refunding bonds would
be closed to-day. The lists opened Wednes-
dsv morning in this city and London. and the Lon
don bankers closed their lists yesterday The issue
was oversubscribed here on the first day. but the
list was kept open enable out-of-town subscrib-
ers TO get their bids in. The new bonds. which on
the announcement of issue were traded IN on the
curb when issued" as high q 97l4 touched yes
ter6ay e5ss or a under the subscription price.
New-York tribune., 1908-06-12
Notice of Summons.

%-FV YORK SUPREME COURT-NEw YORK
y County-Fortuua Machine company Palnun vs.
observation-disclosures. Plaintiff desires
iTtsI "a ths County New York To the above named
rsf.,danr You are hereby answer a
command In action and 10 ssrve copy OF
plaintirs within twenty
sfter OF this summons exclusive OF the day or
failure 70
t,dsTn.,t yiu against you by default
TsIisf demanded In the complaint
Datsd New York. May Is 1905
IEDDING. GREELEY & AUSTIN
Attorneys for Paintir.
Once Once
No. SS
Borough OF Manhattan.
New York City.
tn B4nro FISCHER Defendant: foregoing
served upon By publication. pursuant 20 order
OF Charles Ia Guy. OF the justices % the
supreme of State OF New YORK. dated the 10th
day June. 1905. and nIed with The complaint IN the
one OF he Clerk County Of York,
county Court House. Borough OF Manhattan. City %
Datea New York. June TO- 1905
EEDnING. GREELEY a AUSTIN,
for PiAirrfr.
orsce ari Post Once Address.
of MaGnacsa1.
Yark CI-y.
New-York tribune., 1908-06-12
q Wall Street New YORK 1nns IL 1908

% Wall Street. New York. June II. 1908
Referring to the above notice OF the Railroad
Company we are ready receive any OF bonds
above named extension upon following terms:
Bondhoders desiring must
ON OR BEFORE JUNE 30. 1908, deposit the
with coupon payable July 1905 with the under
such deposit the undersigned will make payment in
cash of said coupon. also will make further
cash payment of s25 per bond. and will issue tenn
porary receipts exchangeabIe bonds with eSten
sion supplement and new coupon sheet attached
to- when prepared.
We also prepared ON OR AFTER JULY I. 1908.
to buy par any of the bonds which the holders
desire sell rather than extend
j. r. MORGAN co.