davidaulloa/AmericanStories huggingface dataset:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-07-09
TO GIVE CHANCE TO
SMALL INVESTORS
United Cigar Stores to Convert
Stock from 500 Par TO
$40 Par.

Tho directors OF the United Cigar
Stores Company at a meeting yester-
day passed a resolution submitting
10 the stockholders a proposition 10
convert the capital stock OF the CON
many, both common and preferred
from 500 a share par vaiue, INTO
shares of $40 each. par value. Inc
effect would be to give holders OF ne
stock ten for one. without, however
involving the capitalization, which re-
mains the same.
c. A. Whelan, president OF the COM
pany gave out the following state
ment: 1891.
"The plan 20 exchange our stock
into shares Of so. par, from sharcs
Of 500. par. on the basis of ten Tor
one. is a recognition Of the tendency
of the times.
we are in a position TO know that
stock made available at low par
vaIue has proved a wonderful stimu-
lation of business like ours, dealing
directly with the retail buyer OF actual
necessities. The sense OF ownership
in a store holds patronage OF IL against
ali other considerations. Inc hoider
M stock. no matter whether 1t be iive
shares or ten shares or more, 1eels
tho incentive Of self-interest when ne
nstronizes the store in the actual sue
cess Of which he is sharer'
"Our only interest is to increase
the sales in or stores. Inns pan
does not increase the capital.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-07-09
No Pressing Maturities.

Missouri Pacific seems 70 have no
inportant bond issues maturing wi,hin
the next few months. Neither IS the
aggregate of interest payments due IN
August Of much Importance
little over $500, 900. apparently. Earn
ings Of the road, il IL true, have not
been satisfactory. the indications a.
tho end OF May being that but little
more, II anything, than 65-1O0th OF
Dor cent would be shown on the stock
AZ the end Of the fiscal year. But the
earnings are no surprise and IN them
selves do not furnish sufficient eX-
plsnation for the heavy declines in
the stock and the bonds, especially Tor
such a sensational break as the points
which was registered in the convertible
bonds in a single hour yesterday.
Weakness OF other Gould issues, such
as Denver & Rio Crande and Western
Pacific. was taken in the Street as more
than merely sympathetic, particularly
In view of the fact that Missouri Pa
tifc owns about 20 per cent OF the
Denver e. Rio Grande stock and Dem
ser is responsible for the bond interest
of the Western Pacific. There was
vague notion around the Street, too
,hst the weakness Of international q
Great Northern notes, which mature on
the first Of August. was not unrelated
10 the Missouri Pacific mystery.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-07-09
NAVAL STORES.

Turpcntinc stcudcr aud a little more ac-
tvc. Hosin was quiet and tar dull SPIRITS
IT RpENTf\E machine bills iua 10 sc
TAi:--Rctort. s. -. kiln. 81 ROSIN-Con-
mon to good strained. 81 10. l.. aso: d.
81 ~. t. Sl6i: 4. 50 -.
COrrO>stED OF.
Was active ana W'ak. closing @n0 points
net lowe. There WAS heavy selling Of Au.
gust. tuG as The dtN progressed the liduida
ton extended into the other poa' TOM. Local
contract riccs
Naat.r
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-07-09
Missouri Pacific's Needs.

u has been a matter of common &C
csptancc ever since Kuhn. Loeb & Co.
sent their letter of May 9 TO the di-
rcetors OF the Missouri Pacific that
there would have to be reorGanlza-
ton Of the company's finances before
next wear. when the extended notes
mature. The bankers expressed their
belief that slO.O00.O00 would have 10
he raised within the next two years
besides the S25.OOO.OOO needed 10 meet
tho notes. They noted. too, that there
wer, about S5O,O0O,0O0 Of bonds ma
turing within the next six years. Some
comprehensive financing plan. they telt'
would have to be devised TO cover these
necessities il the road was 70 assume
the position that il owed 10 IT'S grea'
advantages of situation. In the man
sial district il has been believed rlght
along that a friendly reorganization:
eOmprehending probably the issue o.
nrsfor~ed stock. would not be delayed
teyoud the end OF the current year
The fall. it was thought. would see the
FIRST proposals made. when Missouri
Pacific would be profting paternity
from what promised to be an enormous
agricultural tonnage. And so tne
heavy and continuous selling OF MIS-,
sour Pacific stock and the collateral
selling of bonds. which has been surh
feature of the last few days, va
= surprise only in the time chosen for
the unloading.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-07-09
Crop Report Fails to Have
Definite Reflection in
the Market.
GOULD SECURITIES
ALL DOWN TOGETHER
Missouri Pacific Makes a New
Low Record and the Bonds
Go Tumbling After.

Whether the stock market has al
..sdv taken the measure Of the crop
.Snort or WAS determined net TO get
tsr from, its position of stable eQuilib-
NV, until the rate decision had been
,.de pubNc II is fact that stocks did
,rsctically nothing TO reflect either the
pleasure or the disappointment OF
,roSers over the governments crop hg-
.,,ros In brokerage Offices the feeling
as that the report was distinctly a
huIli,h document. Notwithstanding the
decrease from last year of something
Ike million and three-Quarters acres
3, the area planted TO corn. The wheat
,rospects there was no overpralsing'
They we're so fine as TO be dazzling
Sentimentally that is a matter of con-
siderable importance. because wheat
Tor traditional reasons. has always
been more thought Of in the Street
,,an corn. And yet corn Is far and
away the greater producer of wealth
last wear. for instance. the corn crop,
which was a partial failure, was worth
q 500 600. 900 on the farms. while
wheat. which broke all records for pro-
dyc-ion. vas worth only s610,122,0o0.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-07-09

WHIT naturally leeds 20 the suppOsi-
Ion that there will be no default on
No ] d &. y. notes in the sine Of the
equity behind them. The funded debt
" the company. including the notes. Is
snlf f2z Gz1 900. Against thiS il the
}.zas Railroad Commission valuation
u ,. ~. property, ~ Of July J, 1919, 1T
N,i>iSz5. That this valuation -
sizhly conservative IL plain from the
get that il Was srfiyed a. by taking
hs valuation Of 1895. made By the
s:fhmissisn, ard adding 20 II the cost
" Dettermentg since that time. No
silDNsnes war made for spprsc alton
real estate, though Texas real es'
ts< has gsined considerably N value
= pDss nineteen yesrs, and single
tf>s u tsfminsl property IN Houston
nleh wzg 10 1895 valued ~ sZJ0,OD0
stsld not be replaced for ~ ,000, 900
t'fsJ. IN yiew 81 here circumstances
~ probability Of IN extension Of z0pe
te lp0ng much larger than tbo, Of
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-07-09
STEEL DEPRESSION FELT
Lack. Co. Reports Deficit OF
S783. $50 on June 80.

The present depression in the steel
industry was forcibly eXemplifed yes
terday in the report OF the Lscks-
wanna Steel Company covering opera
tions from January 10 June 80. The
company's total income amounted to
only s6l6.l82, q decrease OF s2,s97,2s'
as compared with the same period a
wear ago. After deducting for inter
est charges. sinking funds. depreela-
ton and renewals there was deficit
of s7s3 $50, compared with surplus
Of s2.o22 1896 on June 80, 1918.
Untitled orders Of the company on
hand June 80. 1914. were l2S,S8O gross
tons. compared with 4S6,615 tons a
year ago, or decrease OF 3o7,'so
tons.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-07-09
THE METAL MARKETS.

Inc, was steady with lake nominal J..
eicctroiytic i@7sc and casting i3esc.
ctandard copper OF the Metal Exchange
was steady ~ - VI a i;.sjc for spot july
no. closed steady AZ fG2 Us Sd for spot
aud fG2 us ia for futures ..
TIN STEADY. Sew York spot 5l.von
sc: July. ~ ~ a. sc. August. 5l.'' O. -; =" "
Seutcn,Ler 3. o. n ~ -: October. J..1"H
20 .7ic. In London tin closed STEADY a.
10 I5s for spot and $40 - for futures
IEND-Quct; New YORK spot 30 %
Z gsc. and East So i.ouis. . a0'' &
Ia London lead closed NJ 10 is &c.
spLI.TER-Quict. Sew York spot. W" ~
r o-c and East - Louis. f.SOn ioUc. In
Ioudon spelter closed AT 81 los
.i..,, ocai mnIket unchanged. at slJ a
az 20 for No foundry, northern ana Nn
/ southorn. and sii T5Nsi5: - FOR No
Nnttb,rn and southern.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-07-09
Federal Light and Traction.
Cities Service.

The Cities Service Company has GER Ger,
tilted An increase in its capita stock
from s5o.OOO,OOO to S65.OoO.COo' OF
Irbicb sIoOOO.OOO will be in the pre-
forrod took TO s4O.OOO.O0O and $1,000
600 in the common stock to s2S'OOo,ooo.
S Shareholders approved the plan at
,yeeting held on April at Dover Del
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-07-09
CHICAGO GRAIN AND PROVISIONS

Chicago. July {. Belief tina; the gov
eminent crop report would prove bear
ish acted as weight to-day on the
wheat market. The report itself. which
came after trading was at an end.
turned out even more adverse 10 the
bulls than mad been expected. Closing
prices were heavy, = 70 &c under last
night Corn finished = 10 Ssc net
higher. Oats sc off TO sc up. and pro
visions varying from unchanged figures
10 a rise of l2lac Wheat spectators
in general were five million bushels too
low in their guesses regarding the gov
eminent estimate of the total yield.
and uncertainty as TO what actually
would be shown caused sellers and
buyers alike TO play i waiting game.
Range Of prices:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-07-09
GAY & STURGIS REPORT
Stock Exchange Governors
Will Ask Sturgis to Appear.

special meeting of the board Of
governors OF the Stock Exchange was
held yesterday TO receive the report OF
the committee on admissions, which has
been investigating the failure Of the
Boston brokerage firm Of Gay & Stur-
Gis. Irving j, Sturgis, who is d mem
Der here. will be asked to appear be-
fore the governors at meeting to be
held later to explain certain alleged
questionable transactions in which his
firm was involved prior to the failure.
which took place last April.
Sturgis's seat was sold TO Carl Pforz-
heimer, a curb broker. several weeks
ago. but as the latter was not admitted
to membership in the exchange the
next step will be to have mis- scat
bought in under the rule" Gay has
already been expelled from the Boston
Stock Exchange.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-07-09
PRICE MOVEMENT
IN COMMODITIES
Wheat Declines-Corn Ad'
vanceS-Oats Steady
Coffee Lower.

Eyening-up sales, in anticipation Of
q bearish report, sent wheat prices
slightly lower yesterday. There was
little new business, but the figures
given in the report. which is published
elsewhere, make it likely that there
will be an active market to-day. as they
are more bearsh than was expected.
Corn was active and higher on reports
that Argentine supplies which have ar
rived here were out of condition, and
there was n net gain for the day Of
= a &c. Oats made few price changes,
losing &c on some options and gain
ing sc on others.
There was not much demand for cof-
fee. and most of the sales were for
liquidation. While il is admitted that
rapid advance would follow frosts in
Brazil at Towering time, few traders
have any confidence in the market, and
there is no incentive to heavy trans.
actions
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-07-09
Inside Selling Suggested.

What connection. if any. there IS pc
.wcen the selling Of Missouri Paclhc
and other Gould issues and the de-
parture for Europe of James S9eyef
nobody seems TO know. 1t was coz con.
sidered OF more significance on ne
Stock Exchange Yesterday that the sell
ing was through the same brokerage
channels that the selling late IN May
rad come. when the situation over me
raturing Of s25.oOO,O0O in notes rad
become acute. Whether 1t MAD me
-eason. because there was never any
tertainty as to who was the seller or
inc first occasion. Guesses centred
either on the Gould family. or The
Pockefeller interests-on insiders, IN
any event. But just why either Of
these interests should want 10 mo- :
ro,T. after passing through the note eX-
tension phase of the company's t's-
.orv. was not plain.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-07-09
RAILROADS.
MISCELLANEOUS
Boston Curb Closing.

f Tel 5s..-~iol'. iOr. iN loi
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-07-09
COPPER STOCKS LARGER
Increase for June Amounted
to 21.768.022 Pounds.

The Copper Producers Association
in it's report for June, issued
Yesterday. showed stocks Of the metal
on hand at the close Of the month
amounting to l06.1l0,663 pounds, an
increase Of 1.76s, O22 pounds as COM
pared with the May statement. Pro
duction last month totalled lI,34o,oi l
pounds. domestic deliveries 1927 ,353
pounds and foreign deliveries 1880,
1876 pounds. The decrease IN total
deliveries was S.725,09S pounds.
Domestic copper stocks for the past
three months have shown inTeases,
and during the last seven months the
net gain has been about 5s,00o,ooo
pounds. The net change since jan
uary 1 is about l4.672,O00 pounos.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-07-09
CASH QUOTATIONS.
GENERAL MARKET REPORT.
GRAIN.

CHAIN.
w HENT Oncrations in the wheat market
were Or an o. cnirg up nature for over tho
go'' nmcnt report. published after the close
Or inc market. and after showing fairly
STEADY nnd"rtone most Of tho dsy values
eased on late. and AZ the close we're 5sas.c
h'i lower The government report was. II
anything. better than expected Indicating
winter wheat crop ~ $50 no 90 bushels
dlcated Weld ~ $4,000. ono. compared with
an indicated crop or 10000 600 month
ago and final last year Of 763. oOo bush
eis. which vas a record Weld for this coun-
try. the amount carried over nom last year.
including the res 'rNcs on the farms and the
yisibl" supply. amounted 10 % 100000, max
Ing tho Indicated available supplies Of wheat
in the United States for the coming year
LOO 100000 bushels figure never even ap-
preached heretofore. Allowing FOR liberal
home consumption and seed for next year ;
crop. there II an indicated surplus for
port OF more than aiU.OuU 900 bushels, whi n
viii make IL possible FOR the United states
10 furnish the outside world with 100000
bushels "A day during the coming year. In
the local cash market new No hard win
ter wheat vas quo.cd at SSi4c and new No
. red al Sic. July shipment. :: No I
Northern duluth 81 Of. and No I Northern
Manitoba. 9oa.c. b aioat Charters YER
reported of { steamers 10 carry l16 carloads
OF wheat TO Europe. CORN-Th9 government
report on corn placed the condition Of tine
crop N SIS per cent on an acreage u loj,
ZOO which made an indicated yield OF
:. SIS so."co compared with a final crop last
year Of 24fb. 9hs.bo. and final two years
ago Of 3.l2f 10 600 bushels. While this In -
dictated q gain OF t22OOO,OO over last year.
the crop mas yet 10 90 throuSh its most oriti-
cal time. and the Weld was considered MOI
crate In view OF the small crop last year
and the very much depleted stocks. The
market vas feYerish. and nnsl prices were
an &c net higher cash No . yellow corn
was quoted at iB'ec. e. to arrive. OATS
The market was inactive, closing ssc net
higher TO Sc lower The government report
indicated a Weld Of / 90l .OOO.0'0 which was
about in line with expectations Local casn
market firm: standard white 44d44i2c: No
> 4,i.di5c No 3. 43i.dfic: No 4. t3tl
Sc; ordinary clipped. 81 945isc; fancy
clipped fJa46iec all elevator. RYE
Stcady. No . Western. 81 zee. e (. New
York export. BARLEY Barely steady!
mailing. 5jGjGc. Buffalo.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-07-09

Total OBSERVATION-DISCLOSURES. lS@>.sS' -
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-07-09

AsA matter OF fact, the reasons for the
xeskness in the international & Grea'
Northecn notes is not far 70 seek IN
recent months the company has re-
eeiyed nothing from it's Mexican bust
ness; il had 20 suffer foods. winch
caused it property damage Of about
10000 and loss in earnings OF
about an equal amount; and then. IN
Texas. the principal territory served
b. the road, there was short cotton
crop last fall. All these handicaps
have come within single year In
addition 20 that. the poor market for
securities has inhibited the notion Of
telling the refunding mortgage bonds
ihst are collateral for the notes. Now
he notes are close 70 maturity and
ihcre ~ no publicly known plan for
meeting them. Doubtless the Could
vso are the principal owners Of the
property. have their own ideas Of
rhst will be done on August ], but
they have set 20 take the public into
her dereC
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-07-09
LONDON WOOL SALES.

Iondon. July S--The wool auc,ion sales
wore continued today. WIN offerings or
- -si tales large selection Of cross
b,,da sold brlskly to Americans. IN" home
,fadr and occasionally the Continent at
on,nine rates Americans bought fair
suppl ~ mcrinos which advanced . per
,ynic. 500 bales. secured. isTis I'D;
gr~spy, NdVts ia. queensland. 500
gr,. -. f. :'sdpia 81. Victoria ioo
~,oured. t. Gdn Jisd: greasy. iod1
l. ld South Australia. too secured "
sdm.s sd. greasy. 7iIdnis I'd Sew
ZCnlnrd. II. 400, secured. II i'tdA@s 3'sd,
gfsn-, it3dnis 3isd. 1npe 81 Good Hon
and Ndinl. 200. secured. l. l"d@.s I'D,
l..rua,- al u u n.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-07-09
ON THE CONSOLIDATED
Irregular Advances Made on
the Opening Call.

The Consolidated Exchange on yes
.crdav's opening call showed irregu-.
lar advances. Special interest attached
70 a transaction in 100 shares OF Atchl-
SON at par. this being its highest price
in several months. In the early deal
ings steel went as high az 621z. Union
Pacific to 157, Southern Pacific to e8'i
and Reading to 1861. Later steel
changed hands as low as 6l's, but
Reading did not get under l64ls.
There were transactions in National
Load at 4G and American Malt at 81.
Now Haven was a weak exception.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-07-09

Dbl. NaN %: yellow. crooked neck Dbl. So
s.: marrow. bbl crate. 81 50us2: TOMATOES.
Fla. carrier. 35cHSl; {. ,ocgN %; G
box 3.cdN: Mss nat case. 80 o0S Va, car
rer. JocdN 80: De. and Nd. 5ocdSl: Jersey.
lox 81 25iIsl 80: dollhouse, 10. l0Hl2c, TUX
NlpS white 100 punches. i0f15c: Dbl j01f
Toe. rutabsSa. Dbl. SinN IS; NATERCRESS,
10 punches. 81 5odse
POULTRY.
DRESSED Receipts and invoices OF fresh
killed fowls light with the few fancy heavy
held &C higher Brothers more plentiful ami
decidedly lower. Long Island and other
spring ducks in liberal supply, but a con
,inved call for freezing. and feeling STEADY
roasting chickens and young tom turkeys
about steady. TURKEYS. fresh killed. West
ern fancy. iIaisc: CHICKENS. broilers,
bbl. Pills and l. squads. 10 each. per pair.
Prnr. fancy, 2Sa3oc: Va. selected. 29b3o,
FOWLS box packed. 1919: bbl packed
i3alsc; COCKS. old. iiGi2c; DUCKS. !. l.
1tnicc: SQUADS, white. prime. 81 ,5ns3 -.
eari' 81 23asi 20; eull' 5en'5c. Frozen
TURKEYS. box packed. Young hens OF IONS
25n.cc: Dbl packed. .3a25c OLD. 22n2ic:
CHICKENS. broiisrs. milk Jed. i5d2oc: corn
icd lJTls rosstcrs soft meatei. milk fed
packed. i3aiac. as TO size and quality /.
BOOSTERS. old. i.Tl2isc: DUCKS. West
ern. No I. 2ni5c: GEESE. i3Glsc. ALIVE
only - cars on track this morning though
, or cars more expected. Receipts un
loaded. 70 carloads by freight and about =
cars by express. Trading fairly active. but
fowls fraction Lower. with most private
sales at Use. BOOSTERS steady. Broiisrs
WORKING out from ish.2c CHICKENS
troIlers. is622c; FOWLS. isc; BOOSTERS
Old. i2niSiic; DUCKS. it916.c. l. and
Jersey. i7isdIsc: GEESE i3c; GTtNEAS
pair. 70c; LIVE PIGEONS. pslr 3oft3sc.
MILK AND CREAM.
The market has been chiefly down the last
week. This ~ a remarkable condition for
the time OF the year. Usually the record
sales OF the year arc made around the
Fourth ~ July. owing TO the cool weather
the demand Was very poor. and the dealers
were swsmped With goods. should the mar
Aet hold below normal until the i0th. " IL
considered probable that the rate dealers will
pay will fan below the Borden rate OF ap.
proximatey 2Ac Tor Grade " In the ~ cent
gone. The receipts OF milk and cream In
4o-quart cans Tor the week ended July Z
were as follows:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-07-09
BRIEF WALL STREET NEWS

About 5000 shares OF stock were SOFA
in this market yesterday for foreigh
account.
The Southern Pacific Company has
made application TO the New orr
stock Exchange to list oo.OOo;ooo .
nep cont twenty-year convertible bonds.
due 1894. and the St. Louis San
Francisco Railroad Company to lis,
s6s. 557 900 Central Trust Company OF
New York's certificates of deposit Tor a
per cent refundng mortgage BONDS
Announcement is made by the Mis-
souri, Pacific Railway Company 10 holh-
ers OF receipts for three-year per
cent gold notes that the extended notes,
with coupons attached, are ready Tor
delivery by the Union Trust Company
Of New York.
The Delaware. Lackswanna g. Wes',
crn Railroad Company has purchased
4O1 gondols cars from the Americnn
Car and Foundry Company ard eoV
rom the Western Steel Car and roIh-
dry Company. The company VIII also
purchase fifty-fve passenger coaches III
the near future.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-07-09
NIGAR.

There was little improvement IN with
drawals % refined Prices were unchanged
On Tie basis Of s.c0c for hne granuiated.
Raw was easy and not particularlr active
the jnly sales reported hoing 10000 bags tor
August shlpnnn- At 2J-lcc. cost and freight.
equal to 332c ior centrifugal. The market
closed easy at 3.2Gl 3.32c for centrifugal 2.6l
n ..61c for molasses and 2i.h2 D tic for
Cuba. cost and freight. In London beet
gar wa reported With selle at Is 81 Tor
July. Is 3a.d Tor Augl ST and rs 4iad for DC
tobel -peCcmUor with the curb at % 2'td. os
Si.d and 9s 49.d ror Octoher-Deeember. Re
celpts In the United Kingdom for the week
were ~ 00D tons. against 1000 last week.
Willot e. Cray report the movement o. sugar
at United States Atlantic PORTS ;or the week
as follows Receipts 63.3I5 tons against " =
3io the previous week 81 0%l last year and
~ a9i r. mr.: meetings. 5000. against 60
coo IS 600 and 10000. total stock 800. ID
against 3a9 s4I. $50 III and ot2Gs tons, re
spectlvely.
SUGAR FUTURES WEAK.
The raw futures market vas weak. Win
quotations lice lowe all around. For the
first time since quotations for futures have
been made over the counter. preparatory 10
dealings on the New York Coffec EXCHANGE
the later maturites were offered Under 2'sc.
BUYERS however. were still absent. quota
lions To- Cuoan raw sugar futures. basis 20
degrees c = New York. reported by Hop
bins Brothers - EroaG St;