davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1914-03-30
Railroad Credit at Low Ebb.

THE Bache Review of last week saws
Business is complaining everywhere Of
dulness, but IL is an amazing thing that
intelligent business men everywhere arc
al a loss 10 understand why. and do not
recognize the real cause.-the situation Of
the railroads. the paralyzation OF railroad
buying. That railroad credit is down 70
pretty low obb is shown by the rates
railroads have 10 pay. Loans against
good collateral can he obtained at from .
per cent for call up TO per cent for
over the year. Commercial paper is tend
ing toward a 2'4 per cent basis. although
per cent is still the prevailing rate. But
old, formerly high credit railroads have
10 pay TO per cent. II is high credit
which attracts the investor. and millions
of money are waiting which will not con-
slider railroad securities Railroad credit
has never before. except in panic times,
been so battered and knocked out Of the
running by harmful legislative or politi-
cal action.
The market is fun Of dulness. the pub
lie is not participating, and operations
are purely professional. with the short
Interest again charging. Nevertheless.
the best opinion on the near future is that
a rise is 10 follow For this, easy money,
unusually optimistic crop outlook and the
absence Of liquidation are the reasons
given. with stocks firmly held, either
outright or on strong margins. there rs
small supply furnished on declines. The
optimism OF sprngtime and the cease
less activities Of vast nation. whose
wants must be supplied even In cloudy
weather. are looked TO To- swing the
pendulum upward. il no acute situation
develops. The bad features overhangins
are chronic and have been discounted.
New-York tribune., 1914-03-30
STOCK EXCHANGE FOR THE WEEK (Contnued).

ton. Il is doubtful. in fact. whether they
have been able to raise on long-term bcr-
roNines as much as half of tho billion
dollars year that Mr.. Hill thought I'M
peratiVe
New-York tribune., 1914-03-30

March. as against 3S.205 for the same
neriod of 1913. More circumstantial
statements of the metal being stored
ont of sight in unrecorded warehouses
i'm Europe were received, and little do
mestic buying developed.
Conservative taking of drygoods was
reported by the commercial agencies,
with some spring increase appearing
in footwear. Cotton mills were said TO
be slowing down. but woollen mills
were doing fair business. CONNER
cIal failures were about the same num-
Der as in the week before, and consid-
orally above those of last year. The
West is said 10 be feeling the depres-
sion more acutely, with considerab BILE
difficulty in collections developing.
European Gold Holdings.
In Europe the great official banks
continued their course much as in the
previous week. The Bank of England,
through failure to replenish its bullion
with the Cape gold offered in the open
market returned further losses of over
100000 in gold holdings Its percent
age of reserve TO liability, which in
January reached the high figure Of
51.42 declined to 43.76, from 1872 the
week before The Bank of France
added bout 100000 francs to its gold,
contracted its circulation and, against
100000. 600 more general deposits, made
only slight increase in advances ana
discounts. In Berlin, the Imperial Bank
of Germany increased its gold some
100000 marks. The Bank of the
Netherlands reduced its official dis
count minimum from TO 312 per cent
Monetary ease at this centre was
maintained Call loans were made at
from 13i per cent to per cent, with
renewals over the Weekend again at
1at per cent. Time money on collateral
security was easier IN the longer ma
turtles. Considerable mercantile pa
per OF the best grade passed below the
ruling minimum rate Of per cent.
Low discounts in London checked the
advance Of sterling exchange here, de-
mand closing at 4S62O to 4.s62o,
against l.S65J on the previous Satur-
day. From Canada about 100000
gold coin was imported.
New-York tribune., 1914-03-30
WIRELESS PROVED
WORTH In STORM
Marconi Report Calls Attention to
Recent ShoWing-Pushing
High Power Work.

The report Of the Marconi Wireless
Telegraph Company Of America, covering
operations for the eleven months ended
PSI. The report calls attention to the
value of wireless during such storms as
recently occurred and which played havoc
with all overhead systems Of wires.
"One railroad. however," says the re-
port which this company had equipped
with its wireless apparatus was able 10
run its trains and handle its traffic with
out cessation or delay. We were able 10
extend facilities and aid to other railroads
giving them service with New York
Philadelphia and Baltimore. Thus the
value Of wireless on trains as an auXili-
airy service i'm time OF storm is now
generally recognized, and "a result we
have had many Inquiries from railroad Of
iicals, and We expect 20 build up sub
stantial business in train wireless
The company. says tho report, is ar
ranging TO construct several high power
stations along tho Alaskan coast and in
the interior steel has already been
shipped for stations 70 be constructed at
Kctchikau and Juneau for commercial
business with Seattle and Astoria, Wash.
The company also is in negotiation with
cuba 10 take over and operate on a Joint
basis several wireless stations which that
government has been maintaining indc-
pcndcntly
Reference also is made 70 the arrange
monts with the Western Union under
which connection will No made between
it's main operating rooms in Now York,
San Francisco and Boston and tho now
high power stations OF the Marconi com
pauy I'm New Jersey. California aud Mas
sachusetts. Land has been purchased at
Chatham and Marion, Mass. for high
power work with Norway.
New-York tribune., 1914-03-30
Railroad Rate Delay.

The Interstate Commerce COmmis
sion has indicated that hearings on the
freight rate increase proposed by the
Eastern railroads may run until late in
April. and that a decision may not he
reached until May or June. In the
mean time railroad returns for Feb
ruarv. as expected. made poor compari-
sons with the same month Of 1913, and
March weekly gross earnings so FAR re
uorted fell off some per cent, AS COM
pared with the similar period OF last
wear. Dividends are being lowered and
omitted by companies which, for par
ticular reasons. are least able to stand
the strain.
An example Of how suggested econ
onv i'm railway management may he
expected 10 work out was seen when
the PENNSYLVANIA announced that about
10 per cent Of its normal number OF
emnIoves east Of Pittsburgh had been
laid off. and that through discharges,
lay-ons and reductions Of hours -
por cent decrease had been effected IN
the hours Of skilled and unskilled
labor. The road also made material
cut i'm train service. Similar retrench-
mont has he begun by the roads east
Of tho Mississippi. Shop work, through
smaller forces or shorter hours, had al
ready been generally reduced. Main
tensncc operations were. li was
learned. being largely curtailed. though
in some instances this was through
failure To make the customary spring
increase
New-York tribune., 1914-03-30
PREACHER IGNORES CHARGE
The Rev. j. E. Price, in Pulpit,
Doesn't Mention His Case.

Although charges Of misconduct were
formally preferred against him Saturday
by women Of his parish. the Rev. Jacob
Embury Price, pastor OF the Washington
Heights Methodist Episcopal Church,
made no reference TO the accusations or
his defence in his sermon yesterday.
The board OF trustees OF the church and
most OF the congregation are lined up in
his support.
The charges grew out OF rumors a wear
aeO. which were presented 10 Anthony
ComstOck. COmstOck says the ACCUSE
tions are Of q serious nature. but Frank
Moss. former Assistant District Attorney,
vino is defending The Rev. Dr Price. sAys
they are Of minor nature. the most Sc
fIOus being a charge Of Kissing - woman
p5risuioucT The charge is merely that
the REV Dr Price Be- guilty of conduct
unbocomiuR a minister and makes no
specific accusatiOn.
New-York tribune., 1914-03-30
Little Financing in 1918.

New financing by the railroads i'm 1915
for instance. totalled only S9Js,655. 800 of
which S93t 15G 800 was I'm the form ~ notes.
How much Of the whole sum was de-
voted TO refunding operations there are
no figures 10 show I'm 1912 only $32,SlS-
roo new capital was raised, and Of that
amount was $9793S9.Ooo was in the form Of
notes. over 100000 90 Of railroad securi-
tics. il IS estimated, have matured OF viii
fall due during 1911.
The railroads must have now money
and on a much larger scale than thcy
have obtained In any recent wear Bat
their problem grows more complicated AZ
time goes on. For one thing they find
themselves obliged TO compete with de-
mand that is constantly growing moro
serious That is from industrial corpora
tions and public utility companies. Last
year the industrial companies took S.,S.-
o99,7 of the country's supply ~ capital
ard tine public utility companies Nj3.Ji5
$50 This year the public utility demand
is expected TO exceed S5oo0o0000 and in-
dustrial demand viii increase proportion
ately. Not only that, but government and
municipal borrowing has risen lSj per
cent i'm little over eight years, AMI
there are no signs of its being checked
If anything further was wanting to make
the railroads path a thorny ono the die
version of European capital 10 tho Balkan
States TO make up tho ravagcs OF war
and 10 the great powers for elaborate
military programmes should nm Up the
btidoof
New-York tribune., 1914-03-30
More Track Needed Soon.

That the railroads must build or a
much larger scale in the next few years
than they have since 1906 is admitted
even by such railroad experts AS did not
agree with the Hin estimate of their
needs. If the traffic was SO conces:cd in
1906 that only the construction of 10000
miles Of track in the ensuing five years
would allow the roads to catch up with
Il, il is no more .han reasonable 20 in
fer that it will be even worse congested
I'm the next season OF prosperity since
only fourth Of that needed track has
been built, though seven years have
passed.
For two years now the railroads have
been able TO do so little new construction
work that they have fallen still further
behind their traffic. New mileage in 1912
was so small presumably in 1913, too,
that, according to THE Railway Age
Gazette one had TO so back fifteen
years to find parallel. The difficulty
has been largely one of money. money
that is forthcoming on reasonable terms
only when railroad earnings are so good
and railroad securities so high that the
investing public is Interested Because
costs of labor and materials and taxes
have rapidly increased and rates have
stood still. railroad earnings have ueces-
sarily declined. Dividends. too. have de-
clined. or have become endangered. and
railroad securities for this. as well as
for other reasons connected with the
worldwide waste OF capital, have moved
lower and lower.
Because of the poor credit that rail-
roads have had in the last two or three
years, in common with good many
other corporations they have been forced
TO put out n large total of short-term
securities. The capital market FOR rail- /
roads is necessarily limiteds II has been /
their misfortune 10 have TO devote a
large part OF their purchases OF new capt /
tai 10 paying of floating debts OF this
character ln many eases they have paid
for their new money with more notes.
'rhat ~ To sa.. their net gain by new
anpucing IN The last few years Fas FALLEN
far snort of their needs for ne" sowtyuc-
New-York tribune., 1914-03-30
DIVIDEND NOTICES.
NV YORK MORTGAGE SKCURIT,
GONplNy

COMPANY.
IIs Bfoa0Way. Sew York
4 quarterly dividend ~ three per cent.
f1~J on The capital stock Of tho Company
has been declared. payable April !, iaI4 40
sfockholosfs ~ ifcOrd ~ the close OF busl-
nesf on Nsrrh ~. 1Stt.
Dared ~. York Starch ~ 1914
CYRIL D. ECRDETJ Secretary.
New-York tribune., 1914-03-30
Wm.ARead&Co
New York
Chicago Philadelphia Boston London
FINANCIAL MEETINGS
wcr'rau Telephone & Telegraph Company
-. L. IL.u -.rL- -l--L.

$50. H. DEFY STREET.
Hca York y. s.. February 90. 1914
lo f.f rfo0thDllsfs:
Noi'ce s hereby given THAT TIE Annusl
,ietIlrs n u.e stockholders OF fre American
te.fpHpne AND Telegraph Company VIII be held
ff f.e principal Office Of fle COMPANY. 80.
~ Dey street. Borough OF Manhattan. C1ty Of
Nff fgfaf Il. 4., OIL Tuesday. thc thirty first
at Of Maril. 1914 a. y O'Clock noon. FOR the
O. To Cleo, Director and inspectors Of Elec-
'ou iDr lle cus1lur yfar.
I) transact such other business az may
property come bcfJfe thc -forka1Ilcfs
fhn transfer books 0f tle Company viii ne
.DseI 80 fhe close ~ business Jn March 9Oth
s11 nope1e1 b 1000 a. 81 on April Isf. 1914.
ARTHUR A. MAR rEE3 Secretary
New-York tribune., 1914-03-30
STOCK EXCHANGE FOR THE WEEK

Following Of shares OF all stocks dealt
the high and low prices OF the year 1914 WIN
and low Of the 1913
12535Oo week and ho
January 1914 26572co against 2Isooo "
New-York tribune., 1914-03-30
Railroads.
Nininq.

100 10, Manhattan Ma :, tan, Tran. Il: L * IL,
New-York tribune., 1914-03-30
Amending Federal Reserve Act.

Two amendments 10 the federal re-
serve act were introduced i'm Congress
during the week. ono was 10 allow in
ycstmcuts held by member banks m
state banks or trust companies TO re-
main for three years and no counted as
though they wcro I'm national banks.
The other would allow banks to receive
foreign acceptances in excess Of tho
limits set At present one-half Of paid
up capital and surplus. Some dlsap-
pointment was felt that II changes
were TO he made domestic acceptance
could not have been included.
Discussion Of the definition Of com
mercial paper eligible for rediscount
under tho reserve act persisted, with
the point at issue rather bcclouded.
+ To meet the purposes Of tho law the
4 currency based on commercial paper
must ebb and now with the course Of
trade. The ordinary single name note
given by buyer Of commodities 10 his
bank or note broker is too often re-
newed after the commodities purchased
!
bearing the name Of purchaser and
bearer must be paid at maturity if the
credit Of the former is to be main
tanned.
After all, the proportion Of rcds-
counted paper to the volume of that
generally in use throughout the coun
try will probably be small. If, how
ever, the more favorable treatment
offered TO such obligations should tend
TO change materially the method of
doing business here, an added benefit
may be expected i'm the establishment
Of a broad bill market such as exists
abroad which would attract foreign
capital Even under present conditions
some mercantile paper was. il was re-
ported. bought here last week as an in
yestment for German capital
Trade Still Slackening.
The tide Of business generally
throughout the country has receded
further The steel industry, though
keeping up its enlarged scale OF opera
tons. was admittedly working on d
narrow margin Of profit. Buying for
the month so far was discouragingly
small and prices tended 10 weaken here
and abroad. Railroad orders are being
held back here, possibly until after the
freight rate decision. Restriction Of
operations for the steel mills was. IL
was reported, 90 be expected unless
some unusual advance IN orders should
be made in the next week or So
PIG iron prices were generally main
tanned. though even here secret con
ccssious were reported. Before long
F the effect Of the pix iron Importation
under the new tariff may bc fclt. par.
f ticularly boa The East. Anthracite sales
were better than had been expected Tor
this time of ycar. Copper exports con
tinuc1 IN large volume reaching 10
90 tons for the FIRST twenty-slx days of
New-York tribune., 1914-03-30
Bonds.

.when issued isels cents per share. iENua
q cash dividend.
The Fairmont West Virginian. (Fairmont, W. Va.) 1904-1914, 1914-01-15
ration ~ ton 9f f the fitS government sesnt.

have staggered everything but a
dauntless optimism. Ninety thou.
sand people Had been compelled to
leave their homes; the street car SER
vice VISA paralyzed; elevators in tall
buildings were not running; the en-
tire telephone system was out of or
der. The only way to reach men
was by personal visit. How, then,
was civic pride to be stirred when it
was a pressing problelnto get three
meals u day and afdry bed to sldep
tn2 Yet the scattered citizens,4 Or
eanization of 500 ment was welded
anew under these depressing and
ltrarowing conditions. furthef 'trib-
nteato the zealand faith of,aIcourage-
Gus folk The old battle line was
thrown OUT, and all through the
spring, when nature was mantling
the Scared and stricken valley, the
fight was waged., In May the people
overwhelmingly declared for, the city
manager form of government, and
named fifteen drafters, headed by
Mr.. Patterson,-:all pledged to the
manager SYSTEM. Nothing had been
left to within or. chance. The char
The Fairmont West Virginian. (Fairmont, W. Va.) 1904-1914, 1914-01-15

=
cuase its essentials were understood
before the election, thus preventing
endless discussion and confusion att
erward, as happened in Detroit and
Columbus, was ratified by, the, same
vote; SO. too, with the choice Of the
five commissioners, George shroycr,
John R. Flotron,, j. M. switzer, A. /.
Mendenhall, and John MCGEE, who
now sit in executive Judgment, on the
destinies Obligation. The solidityi Of
;thisGcontinued GSote shows that, pub7
lieo epiuions pmolded ubwls edueation,
does not readilytchange. OK saiIts n
I ~ Choosing d City Managelts.H2 "
Thefveryt persbnne1' Of the tcomhfs-
sion-upstanding men ,i@hoe stood
shoulder .toishoulder amid flood and
municipalities the spirit or this
new working, democracy. illFcur are
self-mdae merchants and the fifth a
printer, who still works at the case.
The way they: went, about their,
first and most important taskLthe
selection of a city managerAshows
their appreciation of high RESPONSE
bility. Their initial choice was
Colonel George W. Goethals, the mas
ter builder. They felt that. he In
The Fairmont West Virginian. (Fairmont, W. Va.) 1904-1914, 1914-01-15
By Isaac f. Marcosson, in G OILERS
Il large.business affairs sketched "a OF,

------
| Of largeibusiness affairs sketched out
a commission-manager plan that car
ried the Sumter scheme far beyond
that first real vision OF expert mt
nicipal conduct. It adapted the pro-
cess to all the needs of a large mu-
nicipality. When they showed it to
9 city expert he said: "1t's ideal. but
you cannot carry It QUIT"
"yery we'll" was inc ren,v "we
will fall with this ideal Int before
we fallsthe neople Of this town will.
Anow what, nroeressive e,overn mani
ought to be-.
Al thai time sea r r.. !. do,en ,er
sens IN. nav,on had ever neard =,
commissioner-manager rule. So the
commit tee. aid. az NC Al "a 10 hrao,
the old bondage then wa must first
educate the neonle Educat;on ,ios
al the root Of all nermanent nrog-
RESI-,
A picturesque crusade without red
fire tr;mmi, 90 hut worry oarnoot ard
intimate wso ,onnnhod MI oon,
mittee workad with sinai, mite III
lilo pronns of mon were asked IN n
lunch or con,erences and shown the
chart Of nropress and then sent On
their missionary wav Nv word Of
mouth - ALWAYS tic most efyectiv,
pubIicity-tbe rosnel Of the nronosed
order was snread :5rf,yton "a gronn
cf. smaller com ~, !, ,tios a,oh n,;ti,
some sort ~ civic ic,nb55; Tbev wore
Unlisted and formeetd ~. An id,ess S6ain
If aavoeaev-rs!tr6ms q; waasf TIC sa1od.
s6wn AM an 4
r,o n,,,tr:...:. n...,A
Tho idao =; tha srna,, mt *, al,
cation wos tont IN n ,most 10 tho ond
Al all tbe meot;n.s tlen and tbore-
after cards on which tho votors
n,edgod thamso,vas a. tbo nro;ao,
ware c;renia,od Far s,anot,,ra MI;
c,o sections If this Now civic orood
were.
az want tho oonniss,on ~ Mol,
cut for Dayton the best man that can
bo found ony,vb.ra f,r mora,or
az want mi. m,n,aar ~ no s,,
,oct 10 rooo,, ava ah,o ~ aat 40
hundred cents. worth Of sorvico sos
every doii,r ex,ended.
This F card catoIogna nooo,na TN
rostor of tha m;,,,ant o,,a,,n, lbs,
I. n,ocod m,ior;,v =, ,na votars
dasnito,v IN rooard ~ ,no.;f;. 4,
Sno ,nd ,hav oon,d ~. vi, .on,,a,
alto tho,r sigrod hond II anah,oa
,he mon,eors - roo,,za MAJ ,sha,
,he onnnrtnnit,, - =, - mota 40 -,
ar would ,noa, tmst Who, na a,an,o,,
There, was plentv, Of Snnosition to
the commission project, The old
.macb;ro, and tho Socialist. r,,,h.
:, tooth aud n.n rha ,orn, a., sa,,,
in II mo dastructio, ~ seosoned nr,v
i;epe. i' ia Latter ! menace ~ ths,r
marty so,ida ritv
W.T. a. r,.., NJ,
Then ,,asa;nv VIZ to ntoo y han u IN tho
,.h. a. o.n,noia, T. ~, a. -,
rrv waters swent down Tho M,am,.
valley inrnd,tina novton m.an
,ho muddy wotors s,,s;sas ~, a,,o,,
ami, the stark deso,at;on that such
devastation leaves IN 10 wake tnS
,,eonle turned reso,n,s,y 70 No twin
The Fairmont West Virginian. (Fairmont, W. Va.) 1904-1914, 1914-01-15

IN AYToN
cities in Dayton
food and fire with wonderful civic spirit the big
In the adopt
ton Va the BIRTHPLACE Wilson,
engaged city Daytons
city engineer of Cincinnati he regarded the
feson In the land Going the first
charge Of He
sration. oft FRI fitS government - ~ idssE
The Fairmont West Virginian. (Fairmont, W. Va.) 1904-1914, 1914-01-15

This unification Of power not only
enables the city 70 have q permanent
expert and rofessional aaministra-
tor but permits him to name eau
met that VIII ~ sympathetic as well
as ffteisnt Having no political
enemies 10 punish and no friends 10
reward, he can proceed with one idea
y 70 set the largest service for the
least cost. rs
Why concen trate soimich power In
one rnans you ask Simply because
business experience proves that CEN
;tralization of authority In one man
and the subsequent Decentralization
in his chief aids IS the best formula
for efficiency. The city manager cnn
never usurps his power because. like
the commission. he Is subject to re-
call
The commission. Therefore. sits as
a legislative body. il decides VIVA.
the community job Is. and the city
manager sees thai e Is done. For
example; ifS q new street Is 10 be
QUIZ. s ~ commission, eer'ain that
.helilmp iaosslfsef ~ needed, calls IN
.ns wy a, mana w anu sells aim what
,,ss' g g. Gone He ins 1arn summons
W saie. 2 gens Al,epafsn'eh. rub
Wa setslsel aha } lses ing necessary
s'Stio4'i ~ ~ s.rk'''isssi tns
senllhiss,eAa ssls w sAs, snan-
asea thts,rs ns'p'''sse ~ aslp''e-
IL is s.sis NJ y
tassnlsals: aIplg, aaSapee on t' gum
ine1sonss 9ia seaeral e eel'a sian'nie
plan 2 with us waste land delay on pub
,,c 'ss'a'i 1astoh mas Knocked tine
J, oo y 1 on. q the man'c,pat pork
/. oa sfrts..
Eool;a4d' Graft-P Proof Methods.
me me enaf yer trainers went on the
t !hseer that corrupt government rs
!. - =, ~ "s s,a''
,hsyS Sssissd samn,s,a ,s aa,,,a ,ssas :,
y. - aeylsea cohpiete me1hoas or
management, go SPECIFIC that OFF,
tr.s Ia hs,at ~ 80 - ~. ~ ~,
- \. y m,'' 10, a's 'oo'
ssia, sa.a,a IA ~ ~ ~, 20 .s4p
!, !. !, "a ss.s,ps s1'up ~
!. =. ,A e ss .., 90 an s'e-
Tine ssba,as =, rnasa n, ,ss ~. a.,
system ;st,l Is "a 5o two thinys. srs,,d
The Meridian times. (Meridian, Idaho) 1909-1938, 1914-12-25

cially red raspberries. In other parts
of the country they frequently prove
very injurious to peach, cherry and
sometimes to apple trees.
Certain varieties Of grapes and Der.
ries are also more susceptible than
others. The disease Is not necessar
lily fatal, but diseased trees are FIRE.
quently more or less stunted and
sometimes die from the effects of this
disease. The root system OF many
varieties will be imperfect and the
trees can be readily blown out by
storms and cannot produce the maxi
mum crop of fruit. Certain varieties
when affected will produce a much
smaller crop than healthy trees. Such
trees will occasionally produce good
crops, but do not thrive and produce
as well as healthy trees under the
same treatment When the disease is
predominant at the crown, the pos
sibility of growing fruitful trees, even
of the hardest varieties, is greatly
reduced.