davidaulloa/AmericanStories huggingface dataset:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-05-14
GOULD AGREED TO
GIVE UP CONTROL
Was Willing to Let Kuhn, Loeb &
Co. Run Mop" if They Had
Financial Notes.

II was declared yesterday on high au-
thority that the rejection by Kuhn. Loeb
G. Co. OF the Missouri Paclic's offer for
the financing of the railroads s2o.Coo,m
Issue OF per cent notes. maturing on
June /. was not because George J. Gould
refused to give up control of the property
On the contrary. 1t was said Mr.. Gould
agreed that he and the other members or
the Gould family would resign as direc-
tors and give the bankers undisputed
sway In the management Of Missouri Pa
ciic affairs over any period they might
designate.
Speyer & Co., who have acted as bank
ers for the Missouri Pacific during the
last three years. also agreed TO end their
fiscal relationship with the company JUST
where the hitch occurred that defeated
the plan for the financing OF the June
notes is still to be explained. The bankers
yesterday refused to add to the informa-
ton contained In their letter to the rail-
road company. made public last Monday.
While Kuhn, Loeb G. Co. are definitely
out Of the financing OF the notes maturing
on June /. they are still being urged by
the Gould interests to participate in
plan that will aid in the rehabilitation or
the Missouri Pacific. Thomas l.. Chad
bourne, jr. counsel for Mr.. Gould. Is In
almost daily conference with the bankers
and the result Of these meetings may be
an early announcement that will influence
tho noteholders in making the company
extension plan successful.
Whether or not there is default on the
June notes IL is asserted that the money
needed TO put the Missouri Pacific on its
feet will have to come from the stock
holders. This may be accomplished
through an issue OF preferred stock,
which would conform TO the suggestion OF
Kuhn, Loeb Il Co, that the railroad )
fixed charges should not be increased.
The circular to the noteholders explain
Ing the extension plan says that arrange
ments have already been made for the de-
post of a large amount. Many OK the
notes are held abroad.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-05-14
PRICE MOVEMENT
In COMMODITIES
Hessian Fly Damage Ad-
vanceS Wheat-Corn and
Oats Up-Coffee Off.

Corn experts have so far confined their
reports OF damage by Hessian ny to small
numbers In scattered districts. but yes
were received, and the wheat market
quickly responded to the conclusion that
the crop would not be up to the optimis-
tic figures Of the government condition
report There were good reports from
the Southwest, which tended TO check
the advance, but the market at the close
showed net gains of ,s0Ac. Corn seems
to have recovered from the effect OF
bullIsh Argentine news. and the general
tone was steady. price changes showing
gain Of &c to q loss of &c. Oats re-
covered from an early decline, and the
cash position was firm.
The only thing Of interest In the coffee
market was the announcement that the
board OF managers had approved the
proposed amendment to the bylaws OK
the Exchange, which will change the
prevailing differences in Rio and Santos
grades, making the premiums on Brazilian
coffee. other than Santos. 60 points: San
tos grades remain at 30 points, except
numbers 1 and 2, on which premiums
have been reduced from 30 to 30 points.
while milds remain at a full premium
of 90 points as heretofore. and the dis
count on No. 8 is retained at 30 points.
The question will be put to vote on
June 3. and. II approved. will go into
effect on contracts dated on and after
July l. 1915
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-05-14
Opportunity for All.

Among the heterogeneous lot Of stocks.
bonds and other securities advertised yes
terday TO be sold at public auction was
claim 10 whatever shares in the Infant
Incubator Company were owned by the
estate OF Solomon Fischel, deceased Pre-
sumably infant incubators are the foster
parents Of infant industries, which have
way in the United States Of growing
INTO monstrous trusts. An excusable
error will doubtless make them RESPONSE
be for the existence of baby bonds. of
which so much has been heard in the last
Few years. Up 10 now the methods OF
propagation which have raised certain In
dustries Ike tin plate manufacturing from
pulling homage into boisterous ma
unity have been kept concealed. Is 1t
possible that a Frankenstein has mad
'ertently put his secret in the power Of
any one with enterprise enough TO bid for
IN inde,e-ninate amount of stock?
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-05-14

Receipts. 4,o0s head; car on sale. Prices
lust about steady. with heavy to ligh,
weights selling It Ss9ods9 per 100 lb'
roughs at 81 IL.
hogs, ISIS IN average 50 per 100 ID; . pigs
80 ID. IS; X roughs. 800 III. 81 ~.
:. Sanders: . Penn nOgs. $50 III. 50; 81
POS 10. IS 90: rough. $50 III, 81 80.
robin e shannon: state hogs. 1lS ID
50. 4. 10 ID. s. 90: roughs. 36j 10. 81 -.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-05-14
Several Shifts Made in Person
mel of Standing Committees.

The new governing committee OF the
Stock Exchange. which was elected last
Monday, met yesterday for reorganiza-
ton purposes and heard the reports OF
the various standing committees. Sew
eral changes were made In the personnel
of these committees. II. X. Pomroy and
LIE Roy Frost were appointed members
of the library committee, to succeed
Stephen II. Brown and II. G.. s. Noble.
Mr.. Noble. the newly elected president
of the Stock Exchange. In response TO
an invitation from the Lower Wall Street
Business Mems Association. appointed
committee TO take part In the parade OF
that organization on May %. This COM
mittee consists OF Charles NJ Newcombe.
Henry c. Swords. Rudolph Keppler,
Winthrop Burr and W. w. Heaton 7
The ceremonies. which will be attended,
by President Wilson, will include visit
TO the site of the old Coffee House. at the
northwest corner of Wall and William
SITS. which was the first homo OF the
New York Stock Exchange. 1t was In
front OF this building that the brokers
used 10 assemble under the historic
"buttonwood tree
George Ely. secretary OF the Stock
Exchange, who was reelected yesterday
by the governing committee. has now
served In that position for forty years.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-05-14
STEEL TRADE HOPEFUL
orders Still Light and Prices
Lower. However.

authorities In the iron and steel trade
'ohtlnue 70 report a more hopeful senti-
Ment throughout the industry, but as
!et little expansion OF orders. Steel
"OfAs are running at practically the
same rate, with lower quotations for
uHshed material Some increase Of activ-
ny Is reported in the pig iron market
'1' at the expense OF prices.
The Iron Age" will say to-day: There
no improvement in prices; rather they
'is lower, both for pig iron and finished
s'eeL The fact that the end of a good
.'~hy contracts was but few weeks of
Nas been Of late the basis Of predictions
" new buying movement that has not
appeared.
Lower prices, particularly in plates,
vars wire and sheets. are themselves a
sSh OF Increasing interest by buyers
'OF some weeks not enough business has
Vuefed TO bring out serious competition.
:" the pig iron market the measurable
increase in activity has been, as under
similar conditions before. at the expense
Of prices
SVeei works are running at practically
'ne same rate of ingot production as in
we past two weeks. indicating that the
VAS's reached is mainly that Of upkeep
throughout the country"
Tie Iron Trade Review" says: "Wbat-
I'er better sentiment there is in the
'n and steel market. and there has
Peeh more evidence OF It the past week,
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-05-14
LOSES AN
EARLY ADVANCE
Realizing Sales Cause a Decline,
Encouraged by Better Weather
Prospects.

The cotton market turned easier after
Yesterdays early advance. and closed
barely steady at net decline of to 3
points, under realizing and selling for
reaction, encouraged By prospects Tor
more favorable weather I'm the Western
belt. The near months led the decline,
and the trade seemed too nervous over
conditions in Texas to sell new crop de-
liveries aggresslvely until there had been
a sufficient spell of good weather to per-
init the completion Of planting and
other early farm work.
There was q renewal OF Tuesdays buy
ing movement at the start, and nrst
prices were steady at an advance OF .
to 3 points in sympathy with the firm
cables. During the early trading the
cotton was well taken. but after the
close OF Liverpool had shut Que arbitraSe
business the demand became less active.
The close was at the lowest point OF the
day. Southern spot markets were I'M
changed TO sc. higher, but the local
market held quiet at 1890. for mddlins
upland; no sales. Local contract prices
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-05-14
T0PICS OF THE DAY
IN WALL STREET
o,dt;me Observers in a
Ouandary Over the
Stock Market.
0oND PRICES PROVE
DISTURBING FACTOR
,,,;sbness on Canadian Pacific
NJ, Iessened by Jettisoning
of London Cargo.

..d ,udges OF market conditions
themselves al a loss to foresee
80. rovemen: in stocks. They Will
'"e % nredIciion, either, of what Will
80 between now and the end OF the
hspE The comparison between the pres
s'~ .,,uasion and that of 1908. 10 which
~, o,,en been compared. has no justi-
\ 49," they assert, except In its out
p. pea and visible signs. There is a super
s '',.s ,asenblance. but no more. Many or
~. e.ctors which were present then TO
r,iideposts for finance and business
.,torether absent now. There Is no
.,ts,nce, these critics say. of public lioui-
,..,O, IN stocks. but then. too, the classic
..,ssnts OF sustained advance are
r.,,,ns. What puzzles them more than
'.--h,nr else is the bond market Theo-
...suv the bond market should have q
80 and strong advance before stocks
=, rowing in earnest. But as matter
y ,,et bonds, except the highest grade
..c-oss issues and municipals. are quiet,
- stocks, though yielding from . to s
~ cent and even more, attract only a
Few buyers
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-05-14
Liquidation in Canadian Pacific.

News that a syndicate had helped out
an important London banking house,
which was heavily committed in Cana
dan. Peruvian and Brazilian ventures.
Hd not lead 20 the view that the lquida-
ton Of Canadian Pacific from foreign
sources had been ended. The belief was
cutie general in the Street that the syndi-
cate would he more likely TO market its
takngs Of Canadian Pacific as oppor-
unity offered than 10 hold them for a
biz appreciation in price. For one thing,
financial conditions are so bad in Europe
hat further selling Of the American
stock most widely held there would not be
Surprising. For another, the analysis of
he stocks position and the business of
tie company published some weeks ago
b. tire "Fraukforter ZeitunG' as was
understood In New York-was distinct
81 depressing to foreign investors In
he stock. and IT was considered potent
enough coming from such an authority
on finance. to Offset the hopes brought by
the prospect Of large harvests in Canada.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-05-14
THE METAL MARKETS.

COPPER-The local street market for
copper was steady, with electrolytic quoted
14Ic and casting 14nlibc. Standard cop
per on the Metal Exchange was steady. with
spot. May, June and July quoted 13.J0914c
In London copper closed quiet at t63 2s I'd
for spot and f63 i2s Cd for futures.
TIN-Firm: New York spot, 33. q SO 900:
May. 80. n ~. 90c; June, SO Is Sac: July.
33S7h g3i12Isc August 34d3i2Oc: Sep
temher. 34.10H3430c In London tin closed
quiet at 1888 IS for spot and f155 IS 81 for
futures.
LEAD--Quiet New York spot. 3s5a 3 CSC.
and East 81 Louis. 375 as s5c. In London
lead closed at fls Is Cd.
SPELTER-Quiet; New York spot. 5109
j20c, and East 81 Louis, J.9J q 5.0Jc. In
London spelter closed at rel Is Sd
IRON-Mddlosboro No 3, 5ls AID In Lon
don. Local iron market unchanged at SIS 25
Tsi5 T5 for No | foundry Northern: st5n
So 30 for No Northern: si4 10 a SIS % for
No ] Southern and Sli 504sl5 for No ,
Southern.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-05-14
SHEEP AND LAMBS.

Receipts. 1850 head: cars on sale. sheep
almost nominal, but full steady Lambs on
light supply were strong, with desirabls
grades 2Jq35 higher; spring lambs nrn
Medium 10 choice lambs sold at Ss l0NSS 50
per 100 ID; Nd spring lambs. so 30. Dressed
mutton steady at 9qleIac: dressed lambs
hrIner at 1919 G16i5c; outside figures for hog
dressed; country dressed dollhouse lambs
steady at Si4SI 80 per carcass
Sales-Kerns Commission Co: 23t state
lambs. II h average. IS 50 per 100 ID; Isl
Buffalo - lb. So 10. 2S3. 90 III, 50 10.
Mcpherson %: 2I1 Nd spring lambs
g. ~. SO 30.
5. sanders 25S state lambs. 30 Id, IS IS.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-05-14
Conspicuous Absences.

:; was another day yesterday OF i'm
gortant absences from the stock list One
quotation board on which arc listed
ninety what might be called normally
active stocks showed twenty-nine blanks
al the close. and the list would have been
even larger had not several issues turned
up IN the last few minutes before 3
o'clock Conspicuous among those for
which there was no quotation were New
Haven, whose affairs are being so much
discussed at an Interstate Commerce
commission hearing; Rock Island, which
no long time ago was furnishing the
pyrotechnics OF the trading; Goodrich,
which lately was a near market leader,
and American Sugar. which has been sober
enough in recent years. but is still re-
membered as one of the widest specula-
tive issues OF a decade or so ago.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-05-14
CHICAGO GRAINS HIGHER
BUG Stories Advance Wheat
Provisions Also Advance.

Chicago, May 13.-Increased damage
from Hessian fly and widening of the
infected zones made wheat rally to-day
with sudden vigor. Prices closed firm at
ssc to sc net advance. The outcome
for corn was hc off to &c up. Oats
were unchanged to sc higher. and pro-
visions the same as last night to
rise OF nc. Some Of the avowals re-
gareing injury which the Hessian fly Is
said to be doing TO wheat throughout
important districts or Missouri. South
ern Illinois and Indiana bordered on the
sensational. In ST. Charles County. NO.
for example. the damage was estimated
as already from 40 to 30 per cent. De-
catur. H.. reported fields in all direc-
lions from there covered with the In
s.cts. from five to fifteen on a stalk.
Alarming advices come, too, from Evans
Vile, Ind. Range of prices:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-05-14

still lacks a broadencd volume OF actual
bookings TO make IT conclusive. With
the second quarter now practically half
gone. makers generally are not expect
ing much betterment before mid-year,
although liouidated stocks and the sound
ness of fundamental conditions make an
earlier turn quite possible. The wire BUSH
ness shows some Improvement, and
structural lettings in April. aggregating
about 10000 tons, are good. but much OF
this has been due to New York subway
and elevated extensions. Some indica-
tons that buying movement in South
ern pig iron Is not far distant are present
and the undertone OF the iron market.
generally, is more promising
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-05-14
'CHANGE GOVERNORS MEET

sEx dividend,
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-05-14
EXPORTS,
CASH QUOTATIONS.
GENERAL MARKET REPORT.
GRAIN.

WHEAT-Reports Of damage BY Hessian ny
I'm Missouri we're more numerous. and ane"
an early decline OF "a 70 iac the wheat mar.
ket rallied and closed firm, with gains or
a to 1i.c from the bottom and net gains FOR
tho dav OF ?. 10 81. Hessian hy has been
complained OF for several days. but 50 far
leading crop experts have not confirmed their
presence In more than small numbers. For
eign markets showed n heavier tone. there
was an absence OF export business. and
Rroonhall in bis weekly international re-
view said that he expects further heavy ship
nents IN the rear future because OF better
roads and the reOpenlng Of waterways In
tho local cesh market No hard winter wheat
quoted at 81 o.. c 1 New York; No
red. tl0i. 10 arrive; No l Northern
Duluth. 81 03h, and No Northern Manitoba.
81 03is. ( b afoat. CORN-News from Ar
gentina was again Of q buliish character but
seemed TO have lost most Of its bush in'u-
encc on the domestic markets. and while the
tone vas steady, price changes were narrow.
the close being &c net lower 10 i.c higher. IN
tho local cash market No yellow
quoted at 7S%c. c / 10 arrive. OATS-Ths
market slightly lower early. but rallied
or covering and buying nv commission houses
Cash market steady; standard white. Az 10
aac: No @ i5 TO 45lac; No 3. ~ to 4tlsc; No 4.
43ii 10 &c: ordinary clipped. 43ia to Acc; fancy
clipped. IS TO EI7c. all elevator. RID-Firm;
No 2 Western. I0l2c. New York export.
BARLEY-Firm: mailing. SO to &c,
Buffalo
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-05-14
LIVESTOCK MARKETS.
New York. May -, 1914
REEVES.

Receipts. 2 OO3 head: 80 cars on sale. Steers
opened slow and prices dropped Toe. with
cens steady TO a fraction higher. with some
sarIv sales 15c higher. The yards were
cleared. Ordinary 10 fairly prime steers sold
al 81 80 per 100 H. pair % extra prime
oven sold at s. so; bulls at So 2 81 iOt cows,
az 10 II SO rs: few head. SO - 81 20.
pressed beef steady. Exports to-day 10
cattle on the Bermudian To Bermuda.
1906 In average. IS IS per 100 10; %, 1912
10. IS so: 20 Va. iI62 10. IS 60; 20 1l6s 10.
IS 40: l. 900 10, 81 So : bulls. 1900 ID. ~ 20 ;
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-05-14
Tn. Mop Note Exchange.

Missouri Pacific noteholders are invited
q, ,,nhsnge their notes (Which will not
!. Maid of. according 70 the best informa-
,,o,, FOR new notes The old notes carry
,,,.rest at & per cent. the new are TO bear
,.- cent Seemingly the noteholders, by
making the exchange, will gain l per cent
N income-a fair inducoment in these
tines when everybody feels the need OF
,ocnonlzing. But 10 believe that they are
colnc 10 increase their income l per cent
,sey will have 10 forget that they bought
the original notes on a 5ia per cent basis.
Thev will not want TO recall the an
noyncement made on May "a. 1911. when
aoooO OF the issue was sold by the
bankers. that the block had been disposed
o. at sS's and interest. yielding 5i2 per
eert 20 the investor.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-05-14

on balance.
Frederick r. Fenton, secretary or the
Investment Bankers Association Of
America, has recently issued bulletin
embodying the report Of the general coun-
sci to the board OF governors. covering
legislation, litigation, income tax rulings
taxation and other subjects.
A special meeting Of the American Gas
and Electric Company, TO be held on June
3. is to authorize an increase of SSeO,OVO
in common stock, to be offered to stock
holders at par or $50 share
A. NJ. Nanton, who was elected o'-
rector Of the Canadian Pacific Railway
Company. ia connected with the banking
firm of Osler, Hammond & Nanton.
Due to the pending court decision, the
sale of 5000 shares of Stewart mining
stock at auction was postponed until
Thursday. at 1890 o'clock.
About 60 per cent of the stockholders of
the CRANKY Consolidated Mining. Smelt-
ing and Power Company, Limited, voted
Yesterday in favor OF authorizing the Ill
rectors TO borrow sSOOo,O0o for additional
financing.
The General Motors Company has pur-
chased 100000 Of It's per cent nrst
lien fve-year gold notes, In anticipation
OF its obligation to pay on OCTOBER
% 600 900 cash to the trustee for sinking
fund purposes.
A spec,al meeting OF the stockholders or
the Mobile & Ohio Railroad Company has
heen scheduled for July "A, in Mobile 10
apnrove an increase in the bonded indeot-
edness not to exceed soc.ooOcoo' ana also
10 approve an issue of 100000 three-
wear gold notes. and of not exceeding SoV'-
600 900 fifty-year gold bonds.
The United Railways Investment Com
many. at the annual meeting yesterday
amounted a committee TO formulate a
plan for the company's financing.
Edward Werner and Harry 3. McDer-
mott have formed co-partnership Tor
transactions in miscellaneous securl-
ties AT 80 Broad st.
Announcement has been made by Kuhn,
oh a co. that the SS,0Oo000 Chicago &
North Western Railway general mort
gage 4 per cent gold bonds, purchased oy
them, have all been sold.
The Cotton and Stock Exchange hrm OF
G. X. Mccormick & Co, of u Broadway
was dissolved yesterday by mutual con-
cont and will retire from business.
n. d. Alling. former vice-president OF
tba National Nassau Bank. and A. w.
Gnbart formerly cashier Of the same i'll
stitution. have been appointed assistant
cashiers of the Irving Natiohai panh'
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-05-14
FOREIGN BONDS.
,r,rn,.bed by Zimmerman & Forshay. wall
VI st)
DIVIDENDS DECLARED.
LONDON WOOL SALES.

London. May ls-There was strong com com.
petition for the ll,oiI bales offered AZ ,ns
w, au crrdes. and especially In sorts suit
,1t a Tor America The sales follow; New
south wales 200 bales; secured, Is ~. d 4
200 gTeasv. stsdG1s 4Ed. Victoria, 900
.conred. IL 4da2s I'D; greasy. I'd p Is 80
south australia. 2oo> greasy. .=d"is o.
Nv ZEALAND g. 100 secured. Is 3dgis Cd
greasy Sd Is 2hd.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-05-14
Attacks Real Estate Concerns

Albany, May 1S-Three New York real
estate corporations were ordered dissolved
to-day by Supreme Court Justice Rudd for
failure to pay franchise taxes due the
state. The corporations are the McCor-
nick Real Estate Company the one
nfty-f,y, Amity Street Company ana the
Iackawanna Securities Company.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-05-14
PROVISIONS.

Hog products inactive with small pric.
changes, but the tone was steady and the mar
ket made small gains. PORK-Steady, mess
s22gs22 so; family, s23ds26; short clear, $40 50
as2l.5O BEEF-Quiet; mess. SlTQsis so: fam
NY, sl9ns2o packet, slsnsi9: extra India mess,
$2IGs2s. DRESSED HOGS-Steady; bacon
tlsal2hc: pigs, l27,c, CUT MEATs-Plckied
bellies quiet, i2%UliAc; picked hams, Iic
TALLoW-Quiet; special. $40: city. CSC;
country 6q6Ac. LARD-Easy; middle West
100000; city. quiet. Csc asked; refined.
South America, i1.3oc: Continent. 1890; Bra
oil. kegs Zoo; compound. steady. stdshc.
llLdlli.c.