davidaulloa/AmericanStories huggingface dataset:
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-07-19

A Stock Exchange house with London
connections has received the following
letter from the British capital The
Specializing public here who used to OPP
crate in the American market seem to
have quite withdrawn their support. At
one time American shares here We're n
very popular form of speculation. but
they have of late received 90 many rude
shocks that they are left absolutely alone
and II will take some time before the public
again repose confidence in American rails
Much OF this s due to the rate decision
delay and the attitude OF your Govern
ment to the big interests connected with
rails, not to mention the disclosures IN
Rock Islands. which are largely held here.
The assessment of II per cent. or the par
value on the holders OF the common stock
seems monstrous, and Il will cause n large
number of shareholders here TO drop out.
The treatment they consider IL drastic,
and II is looked upon here as a short
means of eliminating the dead weight or
watered stock that was created years ago.
I hear various rumors in the city or
trouble They may patch the business up
meantime. but Il will only be temporary
and the disclosures may be somewhat
startling. They are trying even Mt this
late date TO hash them IN, but they must
come out, and what we know at present
makes very ugly reading and some one
will, vet be brought to account
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-07-19
THE STEEL MARKET,
Large Tonnnges Expected for Sec
ond Half of Year.

Since the beginning OF tho month me
showing OF the steel industry has neen
favorable. hut prices remain unchanged
The ratio of operation IL about 80 per
cent. OF capacity and no reductions OF
consequence have been made In July ",
is usually the case. Demand FOR ptomp,
shipment Is sharp. and II is expected thai
larger tonnages will be shown FOR me
second half OF the year than for the hrs'
six months
Higher prices are being considered ny
steel manufacturers and In some quarters
an advance of 50 per ton for all s,ee'
products Ia regarded az possib'" no'ols
the end OF the year. Fig iron ~ Pu'''
In all markets.
One of the encouraging features o' Wv
steel market which developed Te.'.t.,
is better buying by the railroads VIM"
nave been delaying maintenance dpiIo
prlatlons awaiting the Interstate Oo"'
merce Comm ssion's rate decision" /ou.n
this he favorable. II is conceded tn"' INV
market viii benefit approclablE'
The American steel and Wire Coi1lp'"y,
announced an advance OF 81 ton IN Az
wire products 10 take effect to-ino' 90" ",
This WIN make plain wire Sl,3o per ,.
pounds and wire nails SD" per
pounds Independent wire manu-
ers, including the Jones lAughllh
! COMPANY. the Plttshurg Ste'l "',''',,
and the Cambria steel Company ''"'
/ the advance, ,.,.rb,
The Chesapeake and Ohio has '.--''
900 kegs of track spikes ana NJ. ,lco
more and Ohio has ordered i""'
Former order went Ia a Richmond
! and the latter Was placed WIN - '''
| burg manufacturer
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-07-19
Maybet situation.

The market situation as seen by q
leading commission house Is as follows: :
Notwithstanding the declines OF the past
week. stock prices as whole are still
somewhat above the low records OF the
present bear movement The present
liquidation. too. seems 10 be or an en-
tirely different character from that which
took place in 1913. 1907 or 1908. 1t
appears different In that 1t does not rep
resent selling by embarrassed business
men for the purpose of procuring funds
to meet maturing obligations. but on
the other hand, II IA 'rer represents the
selling by cautious investors OF securities
the outlook for which has been damaged
by poor earnings. Ovc"c ipitaliEatiu1 or
bad management In our opinion. the most
patent cause OF the embarrassment of
leading corporations at the present time
Is overcapitalization. Certain 1t IL ma,
this accounts principally for the troubles
OF the New England railroads, the Frisco
and Rock Island systems and for those OF
the Western Maryland. Still the market
seems T. have about d,ccuit.ted most OF
the unfavorable factors, and II Is to be
considered that from the middle OF July
TO the end OF August stock prices usually
show strength even in bad years"
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-07-19
GOSSIP OF WALL STREET.
Selling of Baltimores.

This weeks selling of the Baltimore
and Ohio stocks against the receipt or
the Union Pacific's distribution may not
be a true measure OF the liquidation that
Is to come from that source. Arbitrage
operations and short sales undoubtedly
are a factor OF some Importance, which
will disappear when the dividend Is dis
tributed. The theory OF much lower
prices for the Baltimore and Ohio shares
Is based on the action of Southern Pacific
stock last year. Southern Pacific de-
clined from above par to SO because OF
the sale OF 900 shares OF stock owned
by the Union Pacific and the exchange
OF $4,000 shares more VITA the Pennsyl-
vania. But the circumstances in the
two cases are radically different. The
distribution OF Southern Pacific stock was
n sale. not a dividend. as in the case OF
Baltimore. The Southern Pacific stock
had to be paid for. and no matter how
cheap II might have appeared undoubtedly
many Union Pacific holders could not
see their way clear to subscribe and had
to sell their rights Moreover. the diff
fculty OF finding a market for this stock
was complicated by the provision OF the
courts designed TO create an entirely
new set OF owners. With the Baltimore
and Ohio shares IL Is not question
OF finding a market Mt all. Nor II Is cor
rect to say that the floating supply has
been increased by the 100000 shares OF
common and 100000 shares OF preferred
involved in the distribution. Much Of
this stock. especially OF the preferred
will be held by individual owners Just
as firmly as II was en- bloc by the rail-
road company. Even II n great deal more
has not found permanent Judgment II II
unlikely that Il will be thrown on thu
market Immediately at the lowest prices
In many years.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-07-19
THE CHICAGO MARKET.

CHICAGO, July 1S.-GIttlc r'd"F -,
day Sears RochuCk was ui'h'Ns' "a
l92, while Booth Fisheries t"''.. -.
pr, Terred were point a'so - 'oN'.
sn.ctIv,ly. Sears Ruchuck VIC $50
higher on small transactions Title ~
bonds was at staudstiIl inc 'N''''"'',
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-07-19
UNEASINESS STILL
KEEPS LONDON DULL
Unsettled Political Situation
Contributes to Market
Inactivity.
BRAZTLTANS ARE STEADY
American Stocks Unsettled
COnsOls LOwer-Paris
BOurse Weak.

LONDON, July 1s.-Stocks were dull and
inactive to-day. the unsettled political sit
uation here and IN southeastern Europe
being the contributing factor. Comfort
able money market conditions and better
prospects In Mexico unite in making the
outlook more cheerful Consols closed
lis lower at 7b% for money and IS
1916 for account. Money and discount
rates. wore quiet. Lombard Street dis.
counts were lie per cent. firTner. Bra.
ziran shares were fairly steady.
Americans were weak at the opening
with prices y to a point lower The list
improved fract!onally In midscssion. bu
the market was unsettled at the close
with values from n above 10 2. below
parity.
PARIS, July ls-Rentes closed COO
lower. ut Sc frs. nc. The Bourse open
ing was quiet. bu, the close was weak.
BERLIN, July 1S.-rhe Boerse developer
weak tone and prices were generals
lower.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-07-19
MONEY IN NEW YORK.

Call money was tribe nrmer last week.
the range being between and per cent.
Time money dull. but SOMEWHAT
hrmer In tone. Rates were 2t. per cent. ~
sixty days, per cent. for ninety days "a
per cent. for four months. 81 per cent. for
i've months, I per cent for six months anu
4T44 per cent for longer maturites.
Commercial paper was quiet ana the mar
ket unsettled. Rates were 80 per cent. Tor
sixty days and four to six months names
Domestic exchange on New YORK 81
Iouis--2Oc premium. MinneapoNs-ooc'
premium. San Frnncisco--3Oc. preiniu n
Montreal-3lhc. discount. Chicago-oH'
premium. - -.
Sterling exchange was easier last week
the range for demand bills being t.NtJd higil
on Monday and 1880 low on Friday ana
Saturday Closing rates Were ie4sgn
4S5l5 for sixty days. $500 q T. Nts5 Tor De-
mand and 1850 "A S735 for cables
Money In London. I T. a "a. per cent. shoT
bills 81 per cent: three months. 70 a. : =
ner cent Closing prices Of consols, 'jS. Tor
money and IS 1916 for account.
Paris cables quoted she closing price oi
rentes at So francs ~ centimes. ENchang'
on London. Is francs l6h confines. Prinat'
rate OF discount In Paris, ~ per cent Ut
lin exchange on London, 20 marks t9'a pigs
private rate in Berlin. -. per cent. .
Commercial price Of bar silver IN NeN
York, Sac: London. rs l-lGd. Mexican Sill
YER dollars quoted at 42la mi5 nc.
New York Clearing House statement. ~
changes s2sa,S999O3: balances. N41oS'lA'
Sub-Treasury debit balance, sl724sl.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-07-19
PUBLIC UTILITIES.


The Pacific Gas and Electric Company
announces that California subs-iptlon. 10
me new nrst preferred stock issue have
been most hatterlng' preliminary tabula-
cent OF the California rights have been
taken The result VIII not he known how.
ever, until the complete returns from East
ern and foreign agencies are received
The Pacific Power and Light Company re-
p91I,ss for June total operating revenue Of
The net income was s5g.32l. which com
pares with sj4.74S for a similar period OF
me preIedlns year, For the twelve months
was 8 ,325,972, as against si,259,7S9 for the
preceding twelve months. The ne, income
for the preceding twelve months out
standing capitalization as Of June 30. 1914
Is stated IS follows; Preferred stock, : per
cent" s2,O0O,O0O, second preferred stock I
per cent, 1880 600 common stock. $4,000,
900; bonds, hrst and refunding mortgage, 3
per cent, S. 20, 900. Of which $4,000 Is in
the company's treasury.
The Kansas Gas and Electric Company
reports for June total operating revenue %
The net income was s2sO3i, which COM
paros with s27 asa for the Same month Of
ended June 80 1914, the total operating
revenue was sl,1Oi,3t2 as against t953.2l6
for the prec.dlng twelv" month";. Tho net
income was ti0li25 as against s329,300 for
the preceding twelve months.
The Portland Gas and Coke Company re-
ports for June total operating revenue NJ
| slOl.576. as against {ss.9i3 for June, 1919.
! The net income was s53,9S5, which com
EsreS With sSs,s for sm"r i'ToG
revenue WA was sTicsSo5s, as against siais
fSr @s whSS
with tsi.7sb for the preceding twelve
months
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-07-19
SHORT TERM NOTES.

sEy dividend.
tPsr value $50.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-07-19

to hold their own in July II really a gain.
Money has not hardened much except
in the case of commercial paper. the
market for which has been increa slngly
dsorganized by the progressive dis
closures as to the way IN which Clafiln
paper was manufactured and distributed.
one good thing about these revelations,
though. IL that they will go far to insure
the establishment of the commercial paper
market on sound basis under the new
banking regime 10 he inaugurated with
the Federal reserve system,
So far as concerns the stock market
there have been numerous price collapses.
but they have been only in the securities
OF corporations which have been so con-
Quoted that they were not At to survive a
period of adversely. There has been no
little enthusiastic bearish speculation. but
bearish efforts have not been successful
in forcing liquidation In the tneral run
of meritorlous stocks and bonds. which
have indeed offered excellent resistance
to all the forces and factors OF depres-
sion.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-07-19
THE CURB MARKET.
Only slight speculative interest wa. dis

only slight speculative interest wa. si,-
played in yesterdays short curb session
Quotations were but little altered. TN.
undertone of the market was flrmer Tn.
most active OF the industrials was Tinted
cigar stores new, which was stpau II
9l,. The old stock hardened to 49,.
World Film sold at a. and 4 T',Ited
Profit was unchanged at s and United
Cigar stores preferred advanced to M,
Rock Island shares were dun and heavy
Trading In the OIL department was ex.
tremely limited and prices were higher
standard OIL OF New York ros / point
20 ZIG. Pierce OH, new. hardened TO
1915. National Transit moved up TO sSa,
and Standard oil of New Jersey advanced
20 403.
Transactions in detail IN the market,
Yesterday were as follows.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-07-19
STANDARD OIL SUBSIDIARIES.


10000 Can Pac &C. notes .lo3N 1928. 1885, i0-t
900 Nor Pacific n as c6is 96i7 967 ~
SELLS cents per share.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-07-19
WATER FRONT PROPERTIES.
fAtrOklES AND FACTORY SITtS
FLOYD =. tORBIN, 10 Wall 81 \ y
BUSINESS OppoRrvNirIrs

Silyer-black fores Large dividends paid last
80 n 'oAs' wear. Send for booklet
THE MUTUAL BLACK FON co, 1884 NasssH
MONOPOLY for wealthy party, two O. X
photosraphic inventions for cash or r,u
estate; each s2.b00; samples furnished ROSE.
NOTE STUDIO, 10 Troy ave. Hklyn y i
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-07-19
DIVIDEND DECLARATIONS.


The exports ~ si,s,ie at the port OF New
Gold so,7S5 ana silver s'tt 3s3, to,al Of
sI5i, 33S, against a total Of Sell 80 gold
corresponding week last year. since Lluunry
/ the exports Of gold amounted 10 So $50 .
gold aud SIS 207,t.5 silver In the correspond
ing period last year.
New York for the week ended July rs were;
Gold t7O,l.i and s7i,ai1 silver. making y
total of SlIb,G7l against total of SHN,i22
in the preceding week and $40 SOC Lay tho
corresponding week last year Since lanu-
airy / SOTO, 003, against sl5s7s,3S6 In the
| corresponding period last year.
The Brattleboro daily reformer. (Brattleboro, Vt.) 1913-1955, 1914-11-20
4 Weak Argument,
Barre Times.

1t doesn t strengthen Judge Weeks
claim to the spcakership of the Vermont
House to say that Addison county has
not had a speaker for nearly 10 years.
This office OF speaker is the sort in
which the candidate 5 home residence
bears but little influence, inasmuch as
sheer ability is the only good ground
for selection. Because Il man lives in
Burlington does not give him any more
ability to act as speaker than the man
whose home is in Brighton; because q
certain town or county has not had the
speakership for a long period of years
The Brattleboro daily reformer. (Brattleboro, Vt.) 1913-1955, 1914-11-20
The WeddIer
~ The coat fits you, put Il on"

From the discussion that has been in
progress since the call for d special school
meeting was issued last week it is appar-
ent that the voters of the incorporated
district, or at least considerable portion
of them, look with favor on the PROPOSE
tlon to buy the Hines property on Green
street. This does not mean that there IS
any great sentiment IN favor of a new
school building at present even though
the facilities now available are becoming
taxed, but the terms on which the Hines
property can be bought are such that
the special committee appointed to inves-
tigatc believes that the district could well
afford to make the purchase as an invest
ment. When the Hines property was first
under consideration the price asked was
$4,000. Now it can be bought for
$50 600 under an arrangement whereby
$50 of the amount would be taken
care of by per cent bonds to be paid off
at 81 900 a year. The income from the
houses on the Hines land would take care
OF at least a portion of the interest. and
there is little doubt that the district
could dispose OF the property to advantage
if circumstances ever should make such
Il course seem advisable.
The Brattleboro daily reformer. (Brattleboro, Vt.) 1913-1955, 1914-11-20

The Brattlcboro Rcformer revcrts to
the fact that the state house employees
cost the state the fat total of So, 101.7 10
during the last session, one clerk drawing
$tJJO5 over $500 more than what the
heutenant-goycru received, and declares
that the same attaches of the law factory
at Montpelier are ready for another dip
INTO the treasury" 1t viii be interesting
to note whether this grab put through
under the Fletcher administration can be
repeated under the coming one. The peo-
pie are looking for something different
Enosburg Standard.
The Reformer knows of no particular
reason why Governor Fletcher should be
charged with responsibility for this salary
grab, but it is glad to note the publicity
which the episode is being given at this
tune 1t will be difficult for clerks, mes
scngcrs, sweepcrs and other employees to
claim that they wouldn't have taken the
jobs if they had supposed the pay was tc
| be reduced.
The Brattleboro daily reformer. (Brattleboro, Vt.) 1913-1955, 1914-11-20

does not increase the capacity Of u
resident OF that town. or county to ear
~ out the duties Of speaker. Therefore,
it should he an idle argument to al
vance in favor of Judge Weeks that
Addison county has not been favored
since 1879. If Judge Weeks is elected
speaker it will be because he has the
ability and is Il member of the dom
inant party. not because he lives in 4
section whose lot has been barren, 10,
these maQy Years.
The Brattleboro daily reformer. (Brattleboro, Vt.) 1913-1955, 1914-11-20

50 many advances in municipal govern
mcnt have been made in this country
since the national municipal league drew
up its model charter fifteen years ago that
the meeting of the league in Baltimore
now Is considering new program and a
new modc4 charter. Meantime the adj
vance in the standards of municipal gov
eminent goes steadily forward as the re
ports at this meeting are showing. One
present demand is for the adoption OF tue
German custom Of training experts for
municipal work instead of putting these
things in the hands of the politicians.
The Brattleboro daily reformer. (Brattleboro, Vt.) 1913-1955, 1914-11-20
CAPT. PATTEE COMMANDERS.
Vermont Commandcry, Military Ordc,
of FOREIGN Wars, Holds Meeting

MONTPELIER, Nov. 90 Tie IN.
nual meeting of the Vermont Com.
Military Order Of Foreign
Wars, was held at the Montpelier Coun
try club Thursday evening, Col. II. 5
Foster of Calais. commander, presiding
An informal campfire was held. Officers
We're elected, the new commandel
chosen being Capt, Weston A, fattee
Of Montpelier. The commandery Is com
posed of officers Of the SPaniah-Amer
can war
The Brattleboro daily reformer. (Brattleboro, Vt.) 1913-1955, 1914-11-20

These two questions, which ncccssitate
the expense of two special meetings, form
another illustration of the absurdity of
oar double-barreI system of municipal
government. 1t Is to be hoped that Brat
tlcboro people will soon come to realize
that the application of business methods
to the management OF town and village
affairs is the only plan by which We can
hope to secure really economical admins
tration. The ideal arrangement would be
one municipal unit to include the entire
town, non partisan commission OF five to
be chosen for term of years, and a bust
ness manager appointed by the commits
sioncrs. Such plan would be similar to
that which is now in operation in Dayton,
TO-. and numerous other cities and towns,
and it Is significant that citizens of these
places generally acknowledge that this
form of government is a success.
The Brattleboro daily reformer. (Brattleboro, Vt.) 1913-1955, 1914-11-20
TO SUBSCRIBERS.

1t is the aim of the management to
secure efficient service in the delivery of
the paper each night and it solicits the
CO. operation of subscribers to that end,
Prompt reports should be given of each
failure to receive the paper on the morn
ing following the omission, in person,
by telephone or postal card, thus enabl-.
ing the cause of the error to be promptly
and accurately discovered aud the proper
remedy Immediately applied. 1t is only
by this method that the publisher can
secure the desired service.
The Brattleboro daily reformer. (Brattleboro, Vt.) 1913-1955, 1914-11-20

other sources. and they are not al
ways prompt in presenting their bills
This is undoubtedly true, bat it should
not hinder the members from taking al
vantage of the new law ami have Is
many bills as possible ready to act up-
on at the opening of the session.
The Brattleboro daily reformer. (Brattleboro, Vt.) 1913-1955, 1914-11-20

e hrl,t Quits as Alderman Is the rather
startling headline in a Staid Connecticut
paper coming to our desk, The other
part Of the mans coguomcn Is Ernest W,
and the story is to the effect that he has
thrown up his job as one Of the city
fathers in New Britain, to become the
bead Of u chamber of commerce..
The Brattleboro daily reformer. (Brattleboro, Vt.) 1913-1955, 1914-11-20

Consideration OF proper building resuIa-
tions for the business section of the vii
lage Is occupying the attention of those
to whom the task has been assigned, and
it is probable that the voters will have
an opportunity before long to vote on the
adoption of code that will have as its
main object the prevention of the cree
tron of wooden buildings where they will
be Il menace TO adjoining property, in
the meantime it is we'll for all of us to
keep IN mind the importance of prompt
action on tins question. The popular
slogan Safety first" tits the situation.
The Brattleboro daily reformer. (Brattleboro, Vt.) 1913-1955, 1914-11-20

The fact that the next available appro-
pIiation of S25,000 for a state armory is
to 20 to ST. Adams is not likely to arouse
jealousy in Brattleboro. In 1911 when
this town voted an appropriation of $lO,-
900 toward an armory the local militia
company was badly off for quarters, but
its present accommodations are such as to
make the need OF more room of no imme-
date Importance, And this statement is
made without any intention of minimizing
the importance of an efficient national
guard.
The Brattleboro daily reformer. (Brattleboro, Vt.) 1913-1955, 1914-11-20

While the matter of building regulation
is one for the village to settle the qucs-
ton of widening Flat street in accordance
with plans submitted few years ago Is
one for the town to determine The Sc
lcetmen have asccrtained that approx
matcly 81 800 will acquire the necessary
land on the south side of Flat street, be
tween Main street and the Thomas prop
crty, to widen the thoroughfare to a point
as far west as the recent fire went, and
special town meeting will be called to
give this proposition consideration. All
will admit that if Flat street ever Is to
be widcned the time to begin acquiring
the necessary property is now
The Brattleboro daily reformer. (Brattleboro, Vt.) 1913-1955, 1914-11-20
The Legislature Grist.
st. Johnsbury CALIFORNIAN.

We cheeffully award to Editor
L. Z. Howe the honor OF. writing the
most sensible editorial regarding the
length of session of the legislature.
He says that a large majority OF the
bills introduced do not come from
the members themselves but from
d" organizations, from towns. cities and
villages, from business corporations and
The Brattleboro daily reformer. (Brattleboro, Vt.) 1913-1955, 1914-11-20

Speaking Of the growth OF the public
schools, The Mcddler wonders how many
parents have evinced enough interest in
the work their children are doing to visit
the schools this year. Some, OF course,
have done 50. but the chances are that the
percentage is extremely small. Up i'll
st. Adams last year the interest among
parents of high school pupils was SO
slight that not one made visit to the
school during all the weeks it was in ses-
sion. To prevent a repetition of this un-
cnNiable record the school authorities i
sued a special invitation, to parents to
visit the high school on Wednesday OF
this week, and although the number who
responded was not large the effort was
commcndablc one. Those who complain
about the increasing cost of the public
school system are frequently the ones who
know the least about the additional adj
vantagcs that their children are receiving
in return for the money expended
The Brattleboro daily reformer. (Brattleboro, Vt.) 1913-1955, 1914-11-20

YOUR TO RENT
IN THE DAILY REFORMER