davidaulloa/AmericanStories huggingface dataset:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-04-21
MEMORIAL SERVICE HELD
Spanish War Commandery
Marches to Cathedral.

The officers and companions of New
York Commandery of the Naval and Mill
tary Order OF the Spanish-American War.
led by their commander. Major Frank
Keck. l.. $. Y, marched into the Cattle
dral OF ST. John the Divine yesterday al
ternoon for memorial service. the FIRST
held IN this church.
The clergy IN attendance were Dean
William NJ Grosvenor, Vicar Francis
Little. the Rev. George F. Nelson, the
Rev r. T.. Jones, the Rev John 9. Wei
wood chaplain OF the commandery; the
Rev. Gustav 4. Christensen and the Rev.
r. T.. Henshaw, rector of Christ Church,
Rye. y. Y, who preached the sermon, al
ter the usual services. interspersed with
singing by the choir of fifty.
In the half hundred or more members
of the order that attended the service
We're included Rear Admiral Purnell +
Harrington. L. 5. N; Commodore Robert
p. Forshew. y. NJ. y. Y: ColoneHJ. May
hew Wainwright Captain Ira Harris, L..
S. N. Colonel Michael Reagan, Colonel
Charles o. Davis, Colonel John ]. Byrne.
Colonel John T. Hilton, Major w. Is.
Dwight. Captain Robert j. DAILY. Major
George H. Kemp, Captain John W.
Thompson. Commander Peter, Captain
Fielder. Major Ames and Lieutenant Du-
ane.
The order holds its annual meeting and
dinner this evening al the Park Avenue
Hotel
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-04-21
impending New Issues, 1t Is Be.
Iieved, Will Send Quotations
TO Yet Lower Level.
PUBLIC NOT IN MARKET
Money Brokers Report Having
Large Sums of Clients
Money for Investment,
but Fail to Buy.
rBy cable to The Tribune !

IondOn. April 2o.-The stock markets
.,osed last week with general falling
,andency in all departments, while in
some instances the decline was very
marked This is all the more surpris-
ing i'm view of the general character of
,be weeks news, practically all Of
,,,h;cb was of the kind which might
have been expected 10 have a favord-
h,e effect OF the markets. In some
charters last weeks declines are as
.rihed TO the strained relations exist
ing between Bulgaria and Servia. bu.
This at the worst is not much more
,han a g all family jar, while the Bel
dau strike is also local. and although
Franco-G German relations were at ore
moment at something resembling ten
sion. there was little fear that wise
connsels would not prevail. In fact. I'll
the bad news was of minor Importance.
Other favorable factors were the de
cline III the Bank of England's dis
count rate 10 AZ per cent. with q fur
tber decline TO 4 per cent expected in
the near future and the easing Of the
open market discount rates by way Of
forestalling the next reduction. In I'D
clifton 10 this the condition of both the
Vienna and the Berlin bourses has
much improved. and the monetary sit
nation all over the world has assume /
a VASTLY inproVed aSDect
The best explanation Of the renewed
fall in prices seems To be that public
money has not yet come into the mar
ket in any large quantities. Money
brokers report having large sums OF
their clients money for investment but
the brokers have not yet seen fit to 80
into the market. and the consequence
is that there has been no buying 10
stimulate prices.
The reasons for holding off seem to
lie in the many new issues mOmenta-
rily expected. There are bound TO be
some large loans by the European gov
ernments affected by the Balkan war,
and in addition to these other coun-
tries outside Europe are expected 10
make loans to considerable amounts.
Brazil. for example. is understood TO
be contemplating a S3j.000OO0 ) Per
cent loan. Japan also is expected TO
make a large loan shortly. while, be-
sides all the forthcoming government
issues, a great quantity is To come
from private companies. In view Of all
this immense amount of forthcoming
new issues. brokers seem 10 be waiting
10 see the effect on the market before
investing their clients money. apd so
in spite of the good news prices con-
tinue to fall for lack Of support TO the
market
Supplies of short money were album
dant yesterday. and balances were Of
fered as low as per cent. Weekly
fixtures ruled at pa per cent. sixty
day bills at 35s. three months bills AT
3ts four months bills at 1916 and
six months bills at 81 per cent. The
banks reserve has risen to S139, 90.
600. The stock Of gold is $3.50, 6lO,OcO
ana the proportion of reserve to ia
bilities has increased 10 47.J
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-04-21
Government Intervention Stays
Movement Somewhat. but
Price Is Still 86fr. Csc.
RAILWAY BONDS TO BLAME
Higher Cost of Living, Increased
Rents and Attractive In
vestments Elsewhere
Also Play a Part.
by caole to The Tribune. }

Paris. April 2O.-FTench rentes rose
- centimes last week owing to govern
ment intervention and because Of the
reduction of one half per cent on Thurs
day i'm the Bank of Englands rate. with
rumors of a further half per cent re-
duction within the next three weeks.
Up TO within the last four days the
quotation of French rentes has been
dwindlng The fall has amounted TO
only a small fraction daily. but if the
steady weakening of the "Perpetuelle
rente" be totslled up week by week
and month by month il will he seen
that on occasional and slight momen-
tary rally dependent upon some transi-
tory influence cannot stem the down.
ward trend of the national stock.
The price of rentes has not bccn
above par for about twenty years, but
even as late as the opening Of this
century the national per cent stood
at nearer one hundred than ninety
francs. Several causes have brought
about a lessening of value of the ma
tional debt. Among these the gradual
increase i'm the price of living heavier
rents to pay for the thrifty class of
small investors and. above all, the
tempting and increasingly numerous
offers 10 draw the savings of the little
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-04-21
NO MUSIC PAVILION YET
But Slower Promised to Build
One Three Years Ago.

Three years have elapsed since PARK
Commissioner Stoyer first announced he
would erect "A beautiful music pavilion"
i'm Central Park. At the beginning OF the
concert season last summer he again an
nounced that the pavilion would be con-
structed on the Mall in time for the com
ing concert season.
His optimism, however. is not shared b.
some of his official family, for the con
cert season begins in June, and IL is said
il would be impossible TO get even the
foundation ready by then. Besides, there
is a chance that il may not be built at all.
An appropriation Of $4,000 was first
secured from the Board of Estimate for a
music pavilion and casino 10 be erected
Oh the east side OF the park near 1ofth
street. The park was so badly used by
crowds when concerts were given. how
ever. that it was decided TO devote the
money 10 the erection of pavilion on the
Mall. The Board of Estimate agreed TO
the new arrangement Later plans for thu
pavilion were executed by Carrere 4 Hast
ings and approved by the Municipal Art
Commission.
Everything is I'm readiness for the Board
of Estimate to pass on the plans, but an
official of the Finance Department de-
clared there was no telling what action
the corporate stock budget committee
would take. for it was probable that "A
number Of items would be recalled.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-04-21
DEVELOPING RUIN.

Under the heading Regulation Devel-
oping Into Ruination" The Bache Re-
view Of last Saturday has the follow
ing
The Interstate Commerce Commission
was appointed TO carry out the plan Of
regulating railways
The regulation this last year has con-
sisted largely in reducing rates 10 meet
the views of rival shippers and commodi-
ties and in suspending all advances, ex-
cept an Insignificant few.
Under this treatment the average re-
ceipts Of the railroads have been reduced
over S42. 900. 900. This sum added 10 the
earnings Of the roads wouid nave placed
their net income at a sufficiently attrac-
i've figure 10 have induced investments
IN their securities all over the world. II
must be remembered that these are re-
auctions for only one year.
During this time the commission has
heard and decided 375 rate cases. OF
these. In 243 or 60 per cent, the commits
sion granted reduction. reparaton or de-
clared the existing rate unreasonable,
leaving 1872 cases in which the complaint
was dismissed, but with no advantage to
The railways. In addition 10 these 243
deliberstive decisions the commission en-
tered no less than 1892 informal repa-
ration orders. all tending TO deplete rail-
way revenues.
This is the record Of one years work
o. the Interstate Commerce Commission in
relation to our greatest industry. IT comes
as a further reduction after the adverse
decisions in the advance rate cases III
1911 when the railroads Of the country
were stopped from the increase OF freight
rates which had been applied for a year
before and were badly needed then.
IT. addition, state legislatures nave
continued TO hamper the railroads I'M
doubtedly contributing 10 this result OF
small mileage. Texas. with its 2to.oOO
square miles OF territory shows increase
or only 200 miles during the year. when
there is crying need there for 1000 miles
AZ least Let the legislators of these
various states stop and ask themselves
whether they have helped the people IN
their endeavors 10 punish capital? Have
0ey not hurt the people more even IMAM
Sey have the railroads."
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-04-21

due TO the enormous overproduction OF
securities ana unwarranted extension OF
credit by the banks on inadequate re-
serves. just as is the case to-day. There
was no lack of business at either period,
ana prosperous conditions ruled at the
beginning Of each year. but the strain on
the banks proved too great. and resulted
'Heh' as II most certainly will now. in
ioIced liquidation. As late as April Of
;hat year The Chronicle i'm speaking
vi general trade. said: Nearly all re-
ports as to commercial affairs are highly
satisfactory and all the ordinary trade
indications bear out the favorable views
expressed. showing that business re-
mains unusually active and prosperous
Nevertheless, the stock market continued
10 suffer and sentiment in Wall Street
was so depressed that Mr. Morgan found
IL necessary. in order 10 bolster up some
OF the underwriting syndicates and allay
pubnc apprehension. u give out his now
famous interview, from which We quote
II may be true, as some of the captious
critics declare, that at the present mo-
ment there are in the market many 'un-
digested securities But to my mind
and in my judgment. these new securi-
ties are essentially sound and stable, and
those who have them are in no wise
alarmed because Of their holdings And
vet the decline. which was under way at
that time as subsequent events proved.
had only half run it's course and did not
eliminate until the following autumn.
while Steel. the most notable OF the 'un-
digested.' did not reach its low level Of
S2 until the following spring. or one year
later"
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-04-21
THE PRINT CLOTH MARKET

lfF Ielfgfalu 10 Inc 7 flUAnf.
Fan River. Mass. April 2o-There was
only passive trading in the cotton cloth
markets Of New England last week and
the sales will not exceed 5000 pieces. IL
was the aim of converters To- pound the
market. and they have succeeded in get
ting goods at prices lower than they were
quoted in the open market. Some OF the
largest New York buyers informed mills
that if they would accept orders at prices
which were named they would be given
much larger orders. Some New England
mills have Withdrawn from the market
and will not look for new business till
prices go higher. Mill agents and treas
urers report that at prices which are sug-
gested by buyers the margin OF profit is
very small
II is claimed by New York interests that
the matter Of tariff legislation has some
thing to do with the small amount of
business which Is passing. Converters say
that If mills will accept DC per yard for
8sig-inch. 6lx6i. SIS yards 10 the pound
ana il4c for SSiz-inch. GoXiS they will be
given large orders. The quotations for
the above styles are sc and iJ-i6Hl%sc
D0T ward respectively III ihf New lulbi
markets. II was reported during the
week that some buyers in New York pur-
chased 6Ox4S goods in the Fall River mar
ket al pc per yard, but canvass OF the
mills showed that no mill sold az this
quotation
The point is made by sellers that the
bottom of the market for May and June
deliveries Is very close a hand, and they
are not disposed To force Things. as they
have very Jew goods on hand To sell for
these months. and they are willing that
The davs beyond that time should take
care of themselves II Is reported from
some sections OF the New York cotton
goods markets that convcrtcrs have found
no fault with the condition OF the finished
Goods markets. they declaring thar their
goods are moving in steady and regular
1rder hut thcse same Factors VIII not
anticiDate on gray goods New YORK Job
hers state that they are not getting Such
a large business on wash Fabrics the
trade being confined to certain apecia!ties;
Narrow goods were quiet last week. and
e7-inch. G4xGo. 80 Yards 10 the pound sold
at 3l.c per yard' otiiei "aiio" H''i were
in little demand.
Quiet last week. with orders calling for
str,ail ,oInn,e OF stocks The raw cotton
n,arlra, was depressed but little. The week
|i"s@d with the demand for practically all
styles rather light and prices showing
downward tendency. 49,. ..-,... for L.,
The fcIIoving are the prices Tor last
week. 9s-inch. sixth. S7sc nominal; 2s-incl'
s4vcG &C. nominal. H-inch. oixop. N2c;
Inch :fx56.. 2iac. 21-inch, 5oxj2 Sc: 5S'--
inch. S4xsi. JIG. and Sy-inch. osx'2- ss.c
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-04-21
BEEF EXPORTS DECREASE
Foreign Trade One Thirty sixth
of What 1t Was in 1907.

Washington. April 9).-Thc United
States was exporting more than thirty
six times as much fresh beef and cattle
six years ago rs IL sends abroad to-day.
as shown by statistics made public to-
day by Secretary Redncld OF the Depart
ment OF Commerce. Ia the first nine
months Of the present fiscal year ended
March g. only 5i79.i39 pounds of fresh
beef and 1885 pounds OF cattle We're OK
ported. as compared with 2ooo69.1 ~
pounds Of fresh beef and 5o1.126 pounds
Of cattle in the same months Of 100. TIN.
intervening years reveal uninterrupted
decrease.
Another feature Of the report is the
statement that while the population OF
the country has increased u per cent
since 1907. the number of beef cattle has
decreased % per cent Furthermore. 3D.
ODo head Of cattle came into the country
i'm the first eight months this year.
against only 1880 in 1901 In l'T there
were 5l.5O00o0 beef cattle in the United
States: to-day only 36@0oo.
In the calendar year 1872 the United
States exported 9O1o.wo pounds of fresh
beef while Argentina sent out Gooo,co
pounds, Australia 100000. New Yea
land 81. $4,000 ana Uruguay 100000 Ar
gentina sent 10000 pounds to the
United Kingdom. against 6sico pounds
from this country.
The United states surpassed It's rivals,
however. in prices obtained, having re-
ceived last year an average Of ll.61 cents
a pound for beef exported. against i2S
for Argentine. 493 for Australian and
D. % for New Zealand beef.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-04-21
Jersey MAYOR OUT OF JAIL
Craig. Who Assaulted Aged Man, Re
leased When Friends Pay Fine.

Hackensack, y. j., April D.-MavcF
Robert l.. Craig, of Moonachie Borough
. suburb OF Hackensack, was released
from the Hackensack jail late last night
when friends came forward and paid the
fine of $3.50 imposed by Judge William NJ.
Seufert. after Craig admitted brutal as
sault upon his aged father-in-law' Joseph
schmidt of Woodbridge.
Judge Seufert told Mayor Craig he could
nav his fine in S2j instruments. At the
end of two weeks Probation Officer James
Bratt. of HackeIsack, reported that craig
had not offered cent, and at the same
time Miss Mary +. Livesey. member OF
the NIoonachie Board of Education, ana
her brother James. asked Judge seufert
for permits TO carry revolvers, saying
that Craig had threatened them with pod-
ilv harm. The permits were granted.
About year ago Craig was indeed
FOR a brutal attack on Livesey. who IL
nolitical opponent. but was acquitted. The
Navor and his wife have been hving
anart for several months
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-04-21
BILL PLEASES TAX BOARD
Department Employees May En-
ter Premises Without Permit.

President Lawson Purdy ana Comnls-
sioner Charles +. White Of the Tax Board
said YESTERDAY that the passage OF the
Kerligan bill 10y the Legislature pleased
them This bill gives the department
employees the right to enter upon real
property and into buildings at all reason
able times in performance Of their duties.
Heretofore IT was often necessary for
dcputv tax commissioners and others 10
90 all the way back to their offices after
visiting a building to secure Official back
ing" for their demand that they be per-
mitted 20 enter The kerrigan bill says
The department may. by its officers
and employees or others acting in its be-
half enter upon real property and into
buildings and structures at all reasonable
times to ascertain the character OF the
property" ana further provides that "a
building in course of construction. COM
menced since the frs; day Of the preceding
October, and not ready for occupancy,
shall not be assessed.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-04-21
MINERS TO DISCUSS TERMS
Will Take Up Gov. Hatfield S
Proposal To morrow.

Charies;l:. y. Va. April 2o.-Mncrs OF
the Paint and Cabin Creek coal fields
and the New River district Of West Viz
ginia have replied 10 Governor Hatfield :
proposal TO settle the strike. but neither
accept nor refuse the terms of the Gov
ernOr. Instead. they call d convention of
miners for next Tuesday in this city.
when the proposition will be discussed
and acceptance or rejection decided on.
The decision Of the miners 10 call a con-
vention was made known TO Governor
Hatfield by Thomas Haggerty. national
organizer of the United Mine Workers OF
America; Frank j. Hayes, vice-president,
and Thomas Cairns, president OF District
No L.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-04-21
MERCHANTS ASSN. TO MOVE
Will Take Possession of New Quartert
in Woolworth Building Tomorrow.

The Merchants Association Of New
York announces its location in It's new
quarters the ninth floor of the Woolworth
building. on and after tomorrow" In thS
current number OF its bulletin, Greater
New York" out to-day. il informs the
public OF the expected completion OF the
work of removal during the coming week
and IFS future situation in enlarged quar-
tiers.
\ number of new departments VIII oe
added to the work of the ASSOCIATION ioi-
lowing its removal There Will os adaed
70 the present general scope of the ac-
tivities. which include bureaus 81 tran'e'
Industrial development. publicity a CON
vention and a membership bureau some
divisions which it is believed VIII increase
,be influence of the association.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-04-21
DEPRESSION OF 1908.

In the market review by Lindley d
Co.. members OF the New York Stock
Exchange, appears the following para
graph on the present market position
The position of the market at the
present time bears more resemblance 10
the secondary depression periods OF 1903
and 1888 than 10 the first class panic
years OF 1893 and 1873. In those de-
prsssions the trouble was the direct ont
growth OF the strained money SITUATION
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-04-21

capitalist for more remuneratiNe IN
vestments at home and abroad.
Attraction
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-04-21
ART" AT AUCTION

An auction sale at the Academy of
Nisapplied Art will be held tomorrow
ar %. m. at the Lighthouse for the
Blind. No. Ill East osth street. by JOB
T. Hedges. Charles Dana Gibson and DE-.
John ". Finley The proceeds Of ~
sale will go 70 the blind.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-04-21


Foreign governments have been issu-
ing guaranteed. loans at 41s and even
per cent and more, and this has con-
tinued TO make a drain on the national
fund by constant Withdrawals. Then
the industrial boom in France and
other countries has diverted money
which would formerly have been placed
in rentes.
The heaviest blow. however. was
dealt by the government itself when the
famous issue of state railway per
cent bonds was made and so triumph
antly covered many times over. The
European situation for months past has
also affected the national fund 10 some
extent. but the issue of the second lot
Of the state railway bonds and the ex-
pected great national loan of S3oOO0o,-
OD0. as well as the long list Of loans.
French and foreign. have done more TO
bring about the slump in the national
stock than anything else. The floating
Of these various loans will determine a
strong current Of arbitage operations
injurious to the rentes.
There was a passing CLEAN OF hope in
February on the strength of an increase
i'm the returns for the taxes and fiscal
dues compared with the same period
last year. and also heavy buying 70
cover short sales. but it was a last
flicker of life. for the rente went down
again and continued 10 do So down 40
the middle of April.
German Rente Far Lower.
The German : per cent is even lower
at 80 francs - centimes and the Bel
eian rente is at - francs. Occasional
official Intervention and the daily buy
ing for the public savings banks are
not sufficient To turn the tide. The aO-
sence of capital TO place in rentes IS
the leading feature Of the situation. As
| far back as July last, previous, that Is
To the reopening Of the Eastern ques-
ton. the money withdrawn from the
national fund through the savings
banks and the "Caisse des Depots 81
| CONSIDERATIONS" showed an increase oil
more than a million dollars over re-
ccipts. During the first half of l9l2'
before the international complications
| began. receipts from all sources were
only Sl.OoonOo in excess of with
/ diawals.
The cash market has ceased to in-
tervene To stay the further decline,
although the Perpetuelle closed yestet-
day al s66J. We are passing through
period of dear money which IS likely
TO continue. and the French rente VIII
probably continue 10 be neglected IN
favor of other more productive and
equally safe loan investments.
otherwise the BoUrse remains watch
fuI. but with little actual business.
The undeTtone is firm.
The Richmond Virginian. (Richmond, Va.) 1910-1920, 1913-07-05
NEWEST WIRELESS
SYSTEM SUCCESS
DIR. GOLDSCHMIDT CAN SEND
SECRET MESSAGES-FTGHT
WITH MARCONI.

LONDON. July 4-Dr. Gold
schmidt. the inventor of a new sys-
TEN of wireless which. 1t is said, will
revolutionize such communication.
telegraphed his London agent today
that he had satisfactorily established
communication between Neustadt am
Ruebenberg, near Hanover. and Tuck
erton. New Jersey. for two days dur
ing the daytime. when the power en-
ployed at Neustadt. namely. $50 kilo-
watts, was more than sufficient for
the distance of 5000 miles. Indeed.
Mr.. Meyer. the agent Of DR.. Gold
schmidt at Tuckerton, advised that in
future the power be reduced.
In the tests the new singing
wheel used in this invention showed
itself to he capable of such delicate
adjustment that secret messages can
be sent. inasmuch as 1t can be varied
and adjusted instantaneously to any
length # wave. The reception of
messages is so delicate that an at
tempt to tap 1t would involve the
necessity of another company tuning
to within per cent of Goldscmidt
message in order to be able to re-
ceive anything that could be under
stood.
An English company with a pri-
vately subscribed capital of 100000
will probab bly, be registered on July
7th and sth. Sir Oliver Lodge, the
scientist. expresses the opinion that
the Goldsmith machine will rule the
aerography OF the future. 1t looks
like a big fight is on between the
Marconi and Goldscmidt companies
for transatlantic business.