davidaulloa/AmericanStories huggingface dataset:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-11-20
ASSETS CO. HEAD
DEFENDS CONCERN
Recent Drop in Stock Due to
Stagnant Market-ResOurces
Slow but Ample.

In view OF the recent heavy decline in
the market price Of the Assets Realization
Company. which has resulted in disturb
ing rumors regarding its financial condi-
ton, the president. Ira NJ. Cobe. issued
a statement last evening 10 the stock
holders following a meeting of the d.
rectors Mr.. Cobe said:
During 1912 commitments were made
by the company obligating it to take on
a heavy volume of business. which at the
time seemed profitable. Since the making
of these commitments the security market
has been In such condition that It has
been impossible for the company TO
realize upon its securities as 1t would
have done In an ordinary market; never
theless. the company was obliged TO take
care of its commitments. and its obliga-
ton to do so, taken I'm connection With
the fact that Il was not able to market
its securities as il could In ordinary
times. has resulted in Indebtedness In ex-
cess of what the directors would have
thought to be conservative under normal
conditions This considerable debt, In
connection with the general financial
stringency and the inability OF the COM
pany TO make It's normal earnings, has
resulted in great depression in the stock
which never has had broad market. being
heretofore considered as OF an investment
character.
"In the judgment Of the board, the
present price OF the shares represents far
less than the liquidating value Of the cor
porate assets after the debts are paid.
The feeling of the board of directors upon
this point Is best evidenced by the fact
that the directors now own, and for a
long time past have owned, approximately
ope-third Of the entire capital stock.
THE drop in the shares and the appre-
hension on the part of certain of the
shareholders has been caused by vague
rllmors and general apprehension not
founded on any specific knowledge Of the
affairs of the company. The board will
at once proceed to prepare statement
showing In ample detail the condition OF
the company, and will forward a copy to
each shareholder as soon as the work is
completed"
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-11-20
WHEAT AND CORN
CLOSE HIGHER
Oats Show a Slight Decline
Coffee Markets Higher
Here and Abroad.

There was not much life TO the wheat
market yesterday, the situation in the
Argentine having lost much Of its power
to influence local dealings. There was an
upward tendency to values, however, I'm
spite Of bearlsh statistics from the North
west, where the receipts are still ahead or
expectations and stocks accommodating.
Bulls seem to be basing their operations
on the belief that European buyers Will
have to come to the American markets.
The close showed a net gain for the day
Of CSC to Sc.
Firmness abroad influenced the loca!
corn market, in the face Of increased Of
ferings from the country, and the close
was at a net advance of hc to l2c.
Oats lost some early firmness under
commission house selling, and closed 1T
net unchanged to &c down.
While bulls in the coffee markets sue
ceeded in pushing prices up to net gain
Of Is to 10 points, there was considerable
nervousness, due to the fact that Brazil
still seemed willing to sell coffee at com
paratively low figures, and fear that a
moderate advance would bring out more
liberal offerings. All the foreign markets
were higher, and the local market closed
at the top Of the day.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-11-20
TRADING ON THE
CONSOLIDATED
RumOrS of Financial Trouble
Check Improvement in
Early Trading.

Vague rumors of some financial trouble
brewing in Wall Street circulated on the
Consolidated Stock Exchange and served
to check an early improving tendency in
the market The day opened with a num-
Der OF the leading stocks rejecting over
night fractional gains i'm the dealings on
the $50 o'clock call. Steel, Union Pacific
Erie, ST. Paul and Amalgamated Copper
were each up u of point from Tues
days closing figures, while American
Can and Brooklyn Rapid Transit were
each up 4 and Lehigh Valley up q.
The call prices Of Steel, Reading, Union
Pacific. Amalgamated Copper, Lehigh
Valley and Erie all proved TO be their
highest Steel sold on the call at 561s.
against a subsequent New York Stock
Exchange high Of 56. Reading on the
call sold a. l603s, against a high on the
other board of 1904; Erie at 265s, against
N; Lehigh Valley at 1855. against l45h'
and Amalgamated Copper at II, against
w Union Pacific's call price of l5l com
pared with a high on the other exchange
OF BIS. In the later trading it got down
70 Ass, compared with a New York Stock
Exchange low Of 80. The market, as
Whole, in the after call dealings grad
uaiy worked lower under hesitating and
nervous trading. One Of the features
We're transactions in a number Of stocks
Of which no sales were reported else
Where in Wall Street. Chesapeake o.
Vn!o changed hands on the call at 56$s for
alc)share lot, United States Rubber sold
after the call at 537s and American Ice
after the call at 2Oi2 and POS, no sales of
any Of those stocks being recorded on the
New York Stock Exchange. New Haven
vas quite active, with its Consolidated
nigh 1915, against 1914 on the other board.
Centrai Leather and Can had most at
'ention accorded TO them among the spe-
eialties.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-11-20
PLANS S11,OOO,000 BONDS
Louisiana to Take Up State In
debtedness Due January /.

Baton Rouge. La, Nov. l9.-The
Louisiana constitutional convention in
session here to-day unanimously adopt
ed an amendment providing for the is
suance of sl1,OOO,OOO bonds on short
term notes to take up the states in
dehtedness due January ] next the
state was unable to find market for
the previous issue of per cent nonds.
The short term bonds Will be USED
until the state can find a market for
serial bonds at not more than per
cent, to run not longer than nifty years.
A general property tax of one ana
three-twentieth mills is provided to be
used for the payment Of principal ana
interest of the maturing bonds.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-11-20
FAILURE RUM0RS
STIR THE STREET
ANONYMOUS Telephone Tip
Attacks SOlvency of In
ternational House.
EXCHANGE HEAD
FOR PROSECUTION
,sks Aid in Tracing Circulator of
canards-"T 1.-The Wolf" Blamed
in Brokerage Gossip.

prrrors Of impending financial troubles
-. several prominent Stock Exchange
arms became so insistent in Wall Street
,.s,erday that business was nearly at
.,andstill. One firm of international i'm
.,,,o,ce was prominently mentioned as
.,out ready 10 go TO the wall, but efforts
- ascertain whether there was any foun-
,..on 70 the reports were met with en-
,,,bc denials from credible sources.
BANKERS and brokers declared that at
,..s, IN this specific instance the unfa-
vorable reports had been circulated by
,oms individual or group who had some
rlterior motive in putting out bear news.
some even went SO far as TO say that the
..wo,, Of Wall Street" was again getting
,rsv at the telephone. 1t was fact that
ara Of the news agencies was told ny
,ors person who would not disclose his
,1.,,,,v that a well known house was in
serious financial difficulty
Because Of the persistency and serious
,ass OF the reports. James NJ. Mabon'
,rasldent Of the Stock Exchange, issued a
s,stement late in the day calling for CO.
operatlon in obtaining the source or the
rnmors. which We're universally branded
as false Mr.. MGbon said:
our attention has been called to the
alleged activities Of some person or per-
sons who through telephone calls and un-
derground methods are seeking to under
nina confidence IN various houses in the
financial district A more despicable
method Of attempting TO arouse public
dstrust could not be imagined. Appar-
entity there is no hesitancy in using names,
and houses Of established reputation have
been mentioned freely
This is nothing less than criminal. and
II any one can assist us in placing the
responsibility where 1t belongs, we shall
be glad TO bring the matter before the
District Attorney
Despite the fact that many Of the cur
rent rumors may be unfounded, Wall
Street expects TO see many drastic
changes about January l. one OF the pre-
dictons is that many Of the smaller Stock
Exchange houses will be forced to liQui-
date or be absorbed by the more prosper
Gus firms.
Since the boom days of 1906 there has
been a steady decline in the business con-
Quoted by Stock Exchange houses In
other words, the public is seeking other
fields for speculative enterprises or not
speculating at all. An example of the
spirit that pervades the Street was illus
uated by one wag afte- the failure Of II.
B Hollins & Co.. who said:
"A little more work for the undertaken;
another JOB for the casketmaker."
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-11-20
THE METAL MARKETS.

COPPER-The local street market for cop
per was quiet. with lake quoted 161sc nom
inal: electroytic. 1874 @15hc, and casting,
l5H15Ac Standard copper on the Metal
Exchange was unsettled, with prices NOM
inal In London copper was easy early, but
clio sed quiet at f6S Is Cd for spot and f66
lis Oh for futures
TIN-Easler. with sales OF ID tons. with
spot In New York quoted at 1905 q 4O.35c
November, 400 40.35c: December, 80 s09
40 Toe; January. 1895 q 40. 25c. and February.
4O.O5Gf 4O35c. In London tin closed quiet at
ISL los for spot and fis2 15s for futures.
LEAD-Quiet; New York spot 425H 43Oc
and East 81 Louis 405Q4.l5c. London lead.
fla IS Cd.
sPELTER-Easy; New York spot. 52Oa
530c and East ST Louis, 0g5.20c. London
spelter closed at 800 los.
IRON-Mddlesbor No 8. 49s 1 I'D in Lon
don. The local iron market was easier, with
No 1 foundry Northern quoted SIS 50aSl5 rs;
No 2. SIS 25g$l5 so: No 1 Southern and
soft, $l4 75QSl5 70.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-11-20
PUBLIC UTILITY NOTES
General News and Earnings of
Various Corporations.

The Manila Electric Railroad and Light
Corporation reports for the month of Au-
gust gross earnings of sl42, 725. an increase
OF $lO,773 over the same month last year,
While net earnings were s75,935, a gain Of
@'s8S, and surplus after charges were 49,
1Sl. or $,675 more than last year For the
eight months ended with August gross
earnings were s1,664,O59, as compared with
S,5i9,42l, and surplus after charges
amounted to $49S,32i, as against s74,664 for
the corresponding period last year.
Texas Power and Light Company.
The Texas Power and Light Company,
subsidiary of the Southwestern Power
and Light Company. reports TO the Elec-
trio Bond and Share Company for the
month of October gross earnings of $l,l33,
gain of "a per cent over October last
year. Net earnings after expenses and
taxes We're 81, 1852, or 10 per cent greater
than last year, while income after charges
amounted to s20.247, a gain Of IL per cent.
For the twelve months period ended with
October gross earnings amounted TO H,O99,-
ST. gain Of 16 per cent over the preced-
ing twelve months. but the increase in
operating expenses, amounting to q per
cent. reduced the net earnings TO SAP, i39,
a gain of only per cent over the previous
year. Interest charges were almost
double the amount last year. resulting in
decrease of &9,6n in income after
charges. The balance for the period after
dividends amounted TO $l1S,2S1. as COM
pared with $269,972 ut the end Of october
last year. a loss of sl5l.691 or Sc per cent.
Bangor Railway and Electric Company.
The report of the Bangor Railway and
Electric Company for the month ofOctober
is favorable IN every respect. While the
gross earnings for the month increased
81 per cent, operating expenses were only
A per cent larger than last year, and in
terest charges were greater by 10 per
cent leaving the surplus at 200 per cent
above last year for the same month. For
the twelve months ended October 81 the
company showed gross earnings of s7o5,-
Osi an increase of S62 asa over the preced-
ing twelve months, and net earnings were
S4l1, S14. a gain of 500 500. The balance after
all charges and dividends for the period
amounted TO S99.359. as compared with sS4.-
007 at the end of October last year, an In
crease of sl5,352, or 1873 per cent
Kansas Gas and Electric Company.
The comparative earnings statement OF
the Kansas Gas and Electric Company,
subsidiary Of the American Power and
Light Company, for the month Of OCTOBER
and the twelve months ended October 81
20 &c foIlowS.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-11-20
New York, November 10, 1919

New York, November ~, 1912
GRAIN WHEAT-The wheat market
lacked animation, but the tendency OF values
was inward and prices at the clcse We're az
about the best OF the day, with net gains oI
&6Ac The Argentine situation appeared 10
have lost force as a market factor, ana there
was comparatively little news received from
tina. country. although prices in the Argentine
markets were firmer. indicating fears OF small
or Yields than had been anticipated. Inc 90
mestic statistical position appears rather pear
ish as receipts continue 20 run ahead OF eN
pectations in the Northwest and stocks are sun
accumulating Liverpool was steady anu u
seemed to be tho general impression here thhI
the future course OF values would be deter
mined by the attitude of foreign buyers EN-
mort sales were fair and probably aggregated
about 30 loads No red winter wheat was
quoted at gTlsc, c 1 (, New York. export OASIS
and 99c o D; No l Northern Duluth, ~,
b. CORN-Prces were trmcr most OF tns
dav on covering easing or slightly late anu
closing M a net advance OF lac. Ftrmness IN
Iiverpool and in Buenos Ayres had an ~
nuence on values, and exports from Argen-
tina have already exceeded estimates IL was
Thought more than probable that stocks theie
arc ycrv nearly exhausted. No ? yellow Oh
was quoted at S3c, elevator, domestic. OAIS-
Jrirrner early but eased of late, closing net
Unchanged TO isc lower. Cash market steady
standard white. 46d4Tc: No ., 41H4I t2c; NO j.
ASisI4sc. No T. 44ad4jc; ordinary clipped
44i9Q4el2c. fancy clipped. 47a4sc; all eIs'atoI
RYE-Steady: No Western, 6732c. c ! I, New
York. export BARLEY-Steady; maltihg' o'p
RuTalO
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-11-20

For the first time this year there was
larger tonnage of low grade ore IMAM OF
high grade in the shipments from the
Cobalt Camp for last week. The ship
ments were we'll above the average IN
tonnage. but 1t is probable that they were
lower in the number OF ounces. The total
shipment amounted to S5S,lS9 pounds. Of
which Cobalt Townsite contributed $4,000
pounds and La Rose 224,090. The bullion
shipments amounted to 25S bars. weighing
2sl. 1sS ounces, valued at sl744l. Nipissing
contributing $S4,9s2 to this sum. To date
:. s32. 552 ounces were sent out, valued at
"a 600 224. and are above the figures for
the same period last year
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-11-20
prCEIvERs APPOINTED.
JUDGMENTS RECORDED.

The following judgments for amounts
exceeding 800 were filed yesterday the
first name being that Of the debtor:
Allison. Geo FIR. r. Reed. sii7l 43.
Bergman. Joseph-E Rosenberg 81 al. $3.50 AZ.
Bolet. lannon's. a. Agatstoh, SlZo -. -
Blanksteln. Gartrrde-H Reichbart. 5000 81
Ramon. Frank-People etc, $1,000.
Burkhart Ralph Sc. shoemaker Co.
sl57 90.
BRYAN, Emma V.--Building and Engineering
Co., s340 IS.
Campbell, VIM s.-J F. Stricken, 1915 90.
Cohen. Elias A.-American Mortgage Co..
1921 II.
Cortazzo. Michael-D Norton. sG2s AZ.
Cohen Abrahain-M. Popiel. sos -.
Chassaud, Alfred-A. l.. Brooks. S232 10.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-11-20
Dividends were declared AS follows

Dividends were declared as follows:
Columbus Gas and Fuel Company, reg
ular quarterly Of Ia per cent on preferred.
payable January i TO stock OF record De-
cember 20.
Cuban American Sugar Company, regular
quarterly OF IA per cent on preferred, pay
able January 2 to stock of record Deem
Der Is.
New York Air Brake Company, regular
quarterly Of l "a per cent payable December
% 10 stock Of record December >.
Montreal Cotton Company. regular quar-
terIy or IN per cent on preferred and l per
cent on common; PAYABLE December 10 to
Baton Rouge Electric Company. semi
annual Of So on preferred. payable December
to stock of record November 20.
Cincinnati, New Orleans q Texas Pacific,
quarterly OF 4 per cent on preferred and
semi annual of 3 per cent and 2ia per cent
extra on common, all payable December II.
National Refining Company, quarterly of
. per cent on the preferred.
Reading Company. quarterly OF l per Gent
on second preferred. payable January 10
stock Of record December %.
Union Pacific Railroad, quarterly or "a
per cent common, payable January to
stock Of record December !.
Cities Service Company regular monthly
Of 5-12 Of / per cent on common ana Y OF
per cent on preferred. both payable De-
cember !.
Utilities Improvement Company regular
monthly OF y OF per cent on preferred and
cember l.
To-day is the last day for depositinS
ST. Louis e. San Francisco general
lien per cent gold bonds with the
Bankers Trust Company. under the
bcndholders' agreement dated May 2S'
1913. After to-day any bonds not so
deposited will be accepted only on such
penalty az Speyer &c Co. may fix.
The sl1 900 600 New York Connecting
AZ per cent 40-year bonds recently au-
thorized oy the Public Service Commits
sion have been purchased by Kuhn,
Loeb & Co. and ]. =. Morgan q Co,
and arc being offered by them at eils'
to yield about 4.S2 per cent
Rank A. Vanderlip, president OF the
National City Bank. left yesterday on
an extended Western trip. He VIII spend
good part Of the time in California.
The Stock Exchange has stricken
from the list Allis-Chalmers preferred
and common stock and Central Trust
Company certificates for first mortgage
s per cent bonds, due 1886, and for
preferred and common stock; also st.
Louis & San Francisco stock trust GER
tihcates for Chicago & Eastern Illinois
common stock.
The following railroad equipment
orders have been reported this week:
Lehlgh & New England. 500 steel hop
per cars from the Pressed Steel Car
COMPANY; Wabash. 500 car bodies from
the American Car & Foundry Company;
Bingham & Garfield, % sondolas, from
tho STANDARD Steel Car Company; LOUIS
Vile e Nashville, 500 steel under frames
from the Mount Vernon Car company
and 500 from the American Car & foun-
dry Company
Samuel McRoberts, vice-president OF
the National city Bank. regarding a
statement made by Senator Weeks III
the senate Banking and Currency com com
mittre that this institution coEtein-
plated the opening of a branch IN the
Argentine Republic said yesterday, that
no definite steps to this end had YET
been taken.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-11-20
vIReINIAN'S EARNINGS UP.

The annual report of the Virginian Rail
way Company for the twelve months ended
June 30. 1913, shows operating revenue OF
s5.s42.5SI. a gain OF s1,Oo4.9S6. Net In
come was s2.6O3,726. compared with Sl'-
764.322 in 1912. Last years surplus, ai'er
fixed charges. was s1,o1S,435, against a
deficit the previous year OF S74S,4Ol.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-11-20
IL 6. TREASURY FINANCES.

Washington. Nov l9.-The condition OF the
United States Treasury at the beginning OF
bu,in.,s TODAY was: Net balance In general
fund. Si24, 1876, 100; total receipts yesternlaay'
81 200. ei6. total payments yesterday ,a5 80
sgainsi a defcit OF s., 335. 040 last year, ek-
elusive Of Panama Canal and public DEBT
transactions.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-11-20


Between rumors regarding the acuoh OIL
the revision committee. which met after
the close Of the cotton market yesterday
and rafting foc the census report on GIN
ming. which is due tomorrow forenoon
the cotton market yesterday was quiet
affair. with a generally easier tendency,
although the November option showed a
gain of nominally 10 points at the close
An elrly decline was followed by rally
due To the correction of a misapprehen-
sion regarding the crop estimate of the
Memphis Cotton Exchange, which was at
first supposed to be exclusive OF linters,
hut was found TO be of the commercial
crop. including both linters and repacks.
There was little feature TO the market
until toward the close, when some scat
tered December liquidation and local SELL
ing on reports of a factory strike In
northern Russia caused shading OF
prices. The close showed December weak
and L. points down. with other months
down to . points, November scoring the
only advance. Southern contract mar
kets were unchanged to sc lower, and the
local market held quiet at 137Oc for mid
ding upland; no sales. Local contract
prices:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-11-20

Shipments from the Cobalt camp last
week were well above the average In ton
mage, amounting to 95S,lS9 pounds OF ore
and 29l, 1873 ounces of silver bullion. Nipis-
sing sent 1881 ounces of value OF
sS4,9
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-11-20
FINANCIAL NOTES,
CURRENT COMMENT
Paragraphs of Events in
the World of Business
and Money.

The question is asked frequently What
Is the matter with Wall Street and the
financial times of the day?" 4 subscriber
of The Tribune has written a letter in
which he explains one Of the causes for
the Iublic remaining out Of the market,
and cites his own experience. He says
that in February, 1911. he was induced to
purchase International Agricultural Cor
poration stock by Wall Street house at
a price of 9Sls for the preferred. 1t was
represented as n great snap occurring but
once in lifetime. which promised to pay
per cent dlvi lends for all time. and that
the earnings on the common made
showing OF Is per cent. He was told that
the company owned plants In numerous
places that were in a most flourshing
condition. and orders were being refused.
At that time there was no funded debt,
and it was predicted that the corporation
would show the largest earnings In us
history during the next year. on May !,
1913, the company issued NS,WOUo IN
bonds and Z statement showing earnings
amounting to three times the interest III
excess of all req Iirements. our corre-
spondent says that the passing of the reg
ular dividend on the preferred has caused
the PREFER ed stock TO sell down to $50
share. and he thinks that operations OF
this kind largely are responsible for the
public refusing to purchase securities.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-11-20
COTTON QUIET AND
TENDENCY EASIER
Rumors Regarding Revision Have
a Quieting Effect-December
Options Lower.
WEATHER FOR COTTON STATES.

For Eastern Texas. fair to-day; Friday, in
crcasing clouGiness; moderate southeast 10
south winds
For Western Texas, fair to-day; Friday
cloudy probably rain in north.
For Virginia partly cloudy and continued
warm to-day and probably Friday, except
somewhat colder Friday in extreme north;
moderate south winds.
Friday. ,, 4. la. -,
Friday. 49, - a., 49,. H., -
For Florida. generally falr To-Day ana RI
d,,.. iilbt 10 rnoderate northeast TO east winds.
For North and South Carolina, Georgia, Ala
hama Mississippi and Louisiana, fair TO-DAY
and probably Friday; Hight TO moderate sou'"
winds
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-11-20
Yester

ducts was Only moderately active but irmer.
and prices closed at about the top. Receipts
OF hogs were liberal, and the hog market was
only about steady. but strong interests seemed
TO be Identified with the buying side and val
ues were Influenced to some extent by the nrui-
Continued on fourteenth page.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-11-20
WALL STREET NEWS
TOLD in BRIEF
Latest Dividends and Earnings of
Corporations Reported
Personal Mention.

Business for foreign account in this
market yesterday was of n signif-
canoe.