davidaulloa/AmericanStories huggingface dataset:
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-06-18
MANHATTAN TRANSIT MEETING
}. II. Hoadlcy Presides at First
Stockholders Gathering Since 1900.

A meeting OF the stockholders Of the
Manhattan Transit Company was held
yesterday at $50 East Forty-eighth street
at which about forty of the shareholders
were present. This was the first meet.
ing OF shareholders TO be held since 1906.
Joseph II. Hoadley. president OF the com.
pany. presided.
Some question was raised as to the e'
gality of the call for a meeting and a
motion was made to take an adjournment
until to-day for which "A special meeting
of stockholders has been called. Mr.. Hoad'
ley refused to sustain this motion and
ordered the minutes OF the last stockholi'
ers' meeting In 1906 to he read About
tanning the actions OF the directors sine
the last meeting. A special meeting %
shareholders will be held to-day.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-06-18
DAILY FINANCIAL CALENDAR.
EX DIVIDEND.

EX DIVIDEND.
Company and Term. Stock Amt.
Ogilvie Flour Mills quarterly. com &c.
Eastern Light and Fuel quar-
Electric Light and Power of
Abingdon and Rockland semi
yp enass SILVER. qaaft.ry.; pfd TX.
Manila Electric Railroad and
Light CORPORATION, ,,,,,,.,. IA o.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-06-18
PUBLIC UTILITIES.

II the rate of earnings achieved by the
Detroit Edison Company In the first i've
months OF 1914 Is maintained during the
rest of the year the company should show
surplus for 1914 OF N,S69,525, which
would be equivalent to 10 per cent. on the
sl3.5OO.0 O0 capital stock. May gross in-
creased ss3,1s5. or it3 per cent. :
operating expenses and reserve funds
were li.3 per cent. larger, and net
earnings Increased s3i,520. or eos per
cent. over May. 1913. Interest charges
were 3j.5 per cent. heavier. Depreciation
charges were unchanged at s3s.7so, leaving
i've months ended May 81, 1914. gross earn.
ing aggregated s2.70l.337. an increase OF
IFS per cent, while net earnings were
si.l76.5s0, or 1G.3 per cent. larger than
for the corresponding period OF 1919 There
WAS surplus for the stock after interest
and depreciation charges Of $632.l26, an In
crease OF AIS per cent.
For the first four months Of 1914 the kilo-
watt hours OF current sold by the Appa-
lachan Power Company increased 1889 per
cent. as compared with sales for the corre-
spending months OF 1913. while gross re-
ceipts from sales of current increased l76s
per cent. The net earnings OF the company
Tor the same period showed a gain OF
35i per cent The two hydroelectric de-
velopments OF the company are proving very
efficient. but for almost the entire tlma
since the plants were placed In operation
business conditions have been such as "a
make the obtaining of new industrial con
tracts unusually difficult. Development OF
the companys business has therefore been
slow. About 80 per cent. OF the avails biz
power is being sold.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-06-18
THE PHILADELPHIA MARKET.

PHiLADELPHIA. June l1.-Contlnued dull
ness rcigns In the market here Traders
30 nothing and are evidently bent on
awaiting news from Washington before
committing Themselves. The bears trade
tightly and do not stay short over night
IS rule. Commission houses report
almost empty rooms. There was light
demand for United Gas Improvement
which advanced fractionally. Lehigh VAL
ley did not pay any attention to the
regular dividend and was traded in only
odd lots. following the New York quo
tatons.
In the bond market there was some
interest in United Railways Investment
securities. The summary:
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-06-18
THE COPPER MARKET.

The copper market was dull yesterday,
and while there was some improvement in
the London speculative market the situa-
ton was keenly disappointing to produce
ers. The large sellers maintained their
asking price at IA cents, but sales were
effected by the smaller interests at 1874
cents pound. Foreign manufacturers
are buying copper in small quantities from
day to day, but domestic demand con-
tinues very poor.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-06-18
FINANCIAL NOTES.

The Philadelphia Company announces that
s3,yJG.50O OF Its per cent. preferred stock
has been exchanged for an equal amount
Of Its per cent. cumulative preferred stock.
In accordance with the authorization OF ne
stockholders OF the plan of exchange. Ger.
titlcates for per cent. stock thus exchanged
have been cancelled and the capital stock
IL to be reduced In the amount OF The
certificates exchanged.
The Sentinel=record., 1914-11-08
German Cavalry Demoralized.

Rome, Nov. 7-Official communica tions received in Rome from the Rus sian army headquarters state that the Austro-German reycrses in Galicia and Russian Poland are being aug mented daily by the fugitive troops communicating panic to their re. serves The Austro-German cavalry forces are depicted as being in an es- pecially pitiul condition. A part of this force, it is said, was massacred by the outnumberins Cossacks, the remainder being routed and pursued in utmost confusion.
 Austria and Germany had centered about 20.0Q0 of their best cavalry, hall of which force the Russians maintain now is lost. When the Austrian and German cavalry was disposed of the Russians devoted their efforts 10 the cutting up of the five armies into which the Austro-German forces were divided from their western base of op- erations. The Russians forced them to the southwark at the same time
 nfHcting heavy losses.
 The Austro-German casualties arr said to aggregate over 300oo men in dead and prisoners. The Russians also claim to have captured 201 cannon
The Sentinel=record., 1914-11-08
Capture 200 Russians.

London, Nov 7.-l1:15 ?. m.-An official statement issued in Vienna and reaching here by way of Amsterdam, say5:
 "On the seventh, in the southern war theater, attacks made against the enemy, strongly fortified behind barb ed wire entangements in the district of Companie and south of Shabats are progressing slowly The strate- gcally important heights of Mizar were captured and 200 prisoners taken.
 Together with operations yester- day we began a attack on Kroupanj (62 miles southwest of Belgradel. The details cannot yet be published Yes terday some Servian entrenchmcnts were stormed and l5,000 prisoners, four cannon and six machine guns .were taken.'
The Sentinel=record., 1914-11-08

change has been badly demorulized. In consequence Of the extraordinary conditions it has been impossible to obtain in the usual way the larg amount of cash required to liquidate the indebtedness incurred in the course of raising and marketing the cotton crop.
 ''Io meet this situation the plan in question has been proposed. It con templates the making up by a syndi- cate composed principally of banks and bankers of a fund of $135,000 coo to be lent on the security of cotton to borrowers in the cotton growing states under the direction of a cen tral committee, composed of the indi- vidual members of the federal reserve board, and various auxiliary commit tees.
 Nothing in the nature of price fix ing, restriction of production. division Of territory or control of markets. is involved Loans will be made as freely to buyers of cotton as 10 pro ducers The members of the syndi- cate will be perfectly free to make other loans in any amount to any per. sons, and on any lawful terms Bor- rowers Nl be under no restraint whatever as 10 the price or the time al which they may sell their cotton. Nor will their free agency in borrow ing or in not borrowing as they see fit in any manner be restricted. In short, the plan simply provides the cash which is imperatiyely required to liquidate the indebtedness incurred iI the course of raising and market ing the cotton crop, but which cannot now be obtained from the usual sources of supply because of the ex- traordinary conditions prevailing in the money markets and in the trade of the world.
 "The amount of this fund is barely more than one per cent of the total outstanding loans and discounts of banking institutions in the United States and is much jess than tine amount of cash usually employed in marketing the cotton crop. No, would even this small part of the banking capital of the United States become impoWded as a result Of the plan; but upon being lent would re-. turn at once into general circulation
 'I am unable to see how such a plan could be thought to fall within the puryiew of the antitrust laWs.'
The Sentinel=record., 1914-11-08
BY THE JAPANESE SQUADRON
Japan Reports That Sea Battle Be. tween Japanese and German Fleets Is lmminent-Reports of Capture Cannot Be Confirmed.

Lima, Peru, Nov. Tt is reported here that a Japanese squadron cruls- ing along the coast of Peru has cap tured the German cruisers Scharn- horst and Gnoiscnau.
 Vague rumors of the capture of tho cruisers Scharnhorst and Gneisenau have been persistent since October 31.
 The present report in circulation in Lima may be a result of numerous in- quiries sent to the South Pacific ports asking information as to the reported capture of the vessels. A Calao dis patch received shortly before the one from Lima made no mention of the reported taking of the German cruis- CTS by the Japanese. Callao is the principal seaport of Peru and prob ably would be better informed as to movements of the coast than Lima, which is inland
 Felicitous exchanges by the British and Japanese admiralties over the fall of Tsing Tau made no mention of the capture of the Gneisenau and the lScharnhorst.
The Sentinel=record., 1914-11-08
OF THE SHERMAN ANTITRUST LAW AS SOME FINANCIERs OF
 THE COUNTRY FEARED.
COTTON AID IS ASSURED
Attorney General Gregory States That the Proposed t35,ooo,ooo Fund to Market the Crop Does Not Conflict With Sherman Law.

Washington, Nov 7.-No yiolatior of the anti-trust laws is threatened by the $i35,ooooo0 cotton loan fund plan according to an opinion handed down late today by Attorney General Greg ory at the request of President Wi son.
 The plan was perfected recently by bankers and members of the federal reserve board and Mr. Gregorys opin- ion was rendered after his conference today with President Wilson The treasury department made public to- night the following correspondence:
 "N riting MT. Gregory. the president said:
 "I am sending the enclosed papers. submitted to me by tho secretary Of the treasury, in order 10 ascertain whether in your opinion, the pro posed cotton loan fund may he law fully formed. l know that il is con trary to the practice of the depart. ment to give opinions beforehand to contemplated transactions and ! think that such opinions ought never in ordinary circumstances to be given ! but the circumstances with regard to the handlin gof the great cotton crop which have been created by the Euro pean war are most extraordinary ann seem to justify extraordinary action. | It is for that reason that l venture to ask you to depart in this case from the usual practice of your depart ment.
 "It occurs to me that tho fund contemplated stands in a class by itself. It is hardly conceivable that such arrangements should become settled practices or furnish prece- dents which could be followed in the regular course of business or under ordinary conditions They are as eH- ceptional in their nature as the cir cumstances they are meant to deal with and can hardly be looked upon as by possibility even. daneerons pre- cedents. It is for this reason that 1 feel the more justified in asking your opinion in the premises.
 "In reply Mir. Gregory wrote:
 "1 have the honor to reply to your request for my opinion as to whether the federal antitrust laws (the se- called Sherman act the so-called lClayton act. and the trade commis sion acb would be violated in any r. spect by the carrying out of plan which has been devised for raising and administering a fund of Si3'0oot 600 to be lent on the security of cot ton. A copy of the plan is attached hereto
 Countries which take annually about S,O00oo0 bales of American cot ton-more than half the crop, are now engaged in war. Trade between the United States and those countries in some cases virtually has come to complete stop and ia others has beer seriously hindered. Foreign ex
The Sentinel=record., 1914-11-08
On Western Battle Front.

1 Paris, Nov. 8--l a. m-The Ger
 mans are showing renewed activity from the Yser to the Moselle indicat-
 ing it is believed here either their in- tention to begin another great effort l for victory or to conceal the with
 drawal of troops to the eastern thea
 ter of war or perhaps both. The bat tie around Ypres continues with undi- minished fury but as the allies con. tinue to take the initiative the adyan- tage rests with them. North of Ypres, that is between it and the Dix mud, neither side appears to be mdk- ing any great efforts. It is in the direction of Roulers and the Lys that the enemy is now operating with all
 the forces at his disposal with the ob.
 iect of driving the allies back on Bou- logne
 Running from Kemmel toward the Iys. the hills rise to height Of 400
 feet above sea level, and dominating positions near Kemmel are in the
 hands of the allies. The valley of the Lys through which the Germans are
 advancing Is only 30 feet above sea level, so that the allies have the
 benefit of the stronger ground.
 The struggle in the valley of Scarpe continues with unabated in tensity The Germans still are malS- ing desperate efforts against Arras and at times shells have fallen into the city at the rate of SZ to the min ute, but the French lines are estab- lshed SO skilfully, making every pos sible use of the hills on the fest and
 the small rivers Crinchoh and Sarpe which flow nearby, that the Germans,
 despite renewed attacks, have failed to make any impression on them. French artillery from well chosen po- sitions sweeps the plain over which the Germans are obliged to advance,
 inficti1g severe punishment.
 The latest German operations in the Argonne forest and on the plains
 of the Woevre district are part of a scheme to invest Verdun. This strug-
 gle to isolate the great fortress of the Mouse extends over a vast region The actions on the heights east of the river and around St Mihiel are a part of this campaign. The French, how
 ever, are fully alive to the importance
 of the situation there and are taking
 the offensive with success at several points
The Sentinel=record., 1914-11-08
BASEBALL BERTH
 FOR LITTLE ROCK
FRANCHISE OF THE MONTGOM. FRY TEAM IS PURCHASED BY
 ARKANSAS CAPITALISTS.
West End Park Will Again Be Home of Southern League Baseball in the 1915 Season.

Birmingham, Ala, Nov. At a meeting here today of the directors of the Southern Baseball Association the franchise held by the Nontsom- cry. Ala, club was formally trans ferred to Little Rock, Ark R. j. Allen of Little Rock, who purchased the franchise. stated tonight that he would manage the team next year It is said that S15oo0 was paid to inc Montgomery club
 Besides the transfer of the Noet- gomery franchise, little but routine business was transacted by the direa- tors here. President KavanauGh was unanimously reelected and it was de- cided to adopt for the coming season the same schedule as used last year. The spring meeting of the directors will be held in Little Rock.
The Sentinel=record., 1914-11-08
Little Rock Happy.

Little Rock Ark, Nov. With che announcement that the Southern league directors in Birmingham today approved the transfer of the Nont gomery club to Little Rock the Ar kansas capital will return to the league of which she was an origina member after an absence og five years. The Little Rock franchise was sold to Chattanooga al the close oi the 1909 season when it was seen Lit tie Rock would be forced from the league owing to objections to its geographical location
 The club here next season will bG owned and managed by Bob Allen the oldtime National league shortstop now engaged in the lumber business here. Allen formerly was manager O the Detroit team in the old Westerf league now the American league.
The Sentinel=record., 1914-11-08
Hold New Positions.

Washington, Nov. 7.-Summarizins dispatches received from Vienna since November 1 a statement issued to- night by tae Austrian embassy states that the Austrian forces which with drew from Liverpool now hold new positions in Galicia whicA have been successfully defended against all Rus sian assaults. The statement follows:
 "On the Weichsel-Sanline because of e nountering superior Russian forces, first the German left wing at Warsaw and then our army in action near lyangoro voluntarily witAdrew. The withdrawal was accomplished with entire success and without any disorganization.
 "The new grouping of these forces, carrying out the retirement establish cd the line through Kutno, Rawa and Radon to the junction of the San and Vistula rivers.
 "ln Galicia the positions occupied we're held at all points despite violent attacks by the Russians which were
The Sentinel=record., 1914-11-08
THE CONDITION IS CRITICAL
Million and Half Men qhting With Their Backs to Snow-capped, lm- passabe Mountains-Emperor Nich- oas at the Front.

Rome, Nov. 7.-7:37 D. m.-A spec ial dispatch to the Tribuna from Pet rosrad says:
 The Russians have cut off tde Aus train army from the Germans. The Austrains were encircled on their left flank and compelled to precipi- tate by retreat but Thursday the Rus sians with a swift movement occupied ali the ways of retreat toward Cra- COW and thus the entire Austrian army was pushed toward the Carpath- ians mountains, against which they are closely pressed.
 Their condition here i5 desperate as their body line of retreat lies acrcss the Carpathians into Hungary. But the Carpathans at this time of the year and with the recent snow ia Is are almost impossible to a mil lion and a half of men with provisions and mmition trains and artillery.
 Emperor Nicholas remains at the front"
The Sentinel=record., 1914-11-08
Austria Regulates Price.

Venice Italy Nov, :, via Paris, Nov. 7.-6;20 D. mt is learned here that the Hungarian government is taking decisive steps to hold food prices on a reasonable level Land owners and dealers in grain have been ordered to furnish complete re- ports of their stocks and already 1t has been found that there are much greater supplies of grain ia the coun' try than had been supposed.
 When the returns are all in the gov ernment will fix a scale of maximum prices Local authorities will be em- powered to requisition supplies of all kinds of foodstuffs
The Sentinel=record., 1914-11-08
OFFICE IS FORCED
 ON THIS. MEXICAN
GUTIERREZ THREATENED WITH DEATH IF HE REFUSES PREsI
 DENCY OF MEXICO.

New York. Nov 7.-Eulalio Gutter reg, recently elected provisional prest dent Of Mexico for twenty days by the Aguas Calientes convention. ha. repudiated his election. the conyen tion and all it's acts, according to the Mexican information bureau in thi. city, controlled by the anti-Ni'la fac tion, which gave ont tonight what purported to be a telegram signed by Gutierrez and other prominent MeM cans.
 The information bureau contends Gutierrez was elected president by the convention solely to force him to declare for Villa or for Carraaza and that he has sided with the latter.
The Sentinel=record., 1914-11-08
Retreat Was Necessary.

Berlin, via Wireless to London, Nov. 7.-ll D. m.--An official report from Vienna states that no fighting took place in the north yesterday. The movements of the Austrian army in Russian Poland and Calicia are talk isg iace according to pre-arranged plans and are undisturbed by the enemy
 Although at certain places along the front conquered territory has again been temporarily ceded to the Russians notwithstanding its loca ly favorable position, this is Justified in the interest ol the general situation
The Sentinel=record., 1914-11-08

repulsed with heavy losses to the at. tackers
 Tn Seryia we took strong Seryiau positions in the district by the Save and the Drina rivers. Otherwise the situation it not altered.
 In Bosnia the province has been cleared of the enemy.
 "The bombardmsnt of Cattaro Cby the allies) continues without success.
 Tt is characteristic of the unscrup. ulous conduct of the Russians that approXimatei 100000 rubles has been offered for the capture or assassina- tion of the commanders of our army. As a result an attempt was made on the life of one of our commanding generals which however, was forum atCly frustrated'
The Sentinel=record., 1914-11-08

mans cannot proceed farther west be- cause oi the cooperation of the war ships with the land forces and that a route either here or farther south must be found if the Germans are to attain their ambition of reaching the French coast.
 Elsewhere along the line the usual attacks and counter attacks have been delivered with success first to one and then to the other side hut without making any material change in the situation. Things are moving slowly in the near east, SO far as is known here. The only news from there today concerns the lombard ment of the ports of Zunsudlal and kuzuu on the Asia Minor coast Of Turkey by a Russian fleet and the sinking of several Turkish trans ports. It is said also that the Rus sans have occupied the entire region to the northeast of Erzerum in Asia Minor. Russia is said to be finding useful allies in the Armenians who at last see a hope of being rid of Turk. ish rule.
 There is no change in the political situation in the Balkans, none of the present neutral states having made any move. It is said. however, that agitation has been renewed in Rou- mania for the participation of that country in the war in behalf uf the allies.
 The fall of Tsng Tau naturally caused rejoicing here. It is believed that with the surrender of the Ger man fortress the Anglo-Japanese fleet which took part in the siege will be detailed to hunt down the German cruisers in the Pacific.
 No announcement has been made concerning the amount of booty the allies obtained through the surrender of Tsing Tau, but it is believed that the Germans destroyed everything possible before capitulating. When the siege began in the port was one German cruiser, four gunboats and three destroyers, the Austrian cruiser Kaiserin Elizbeth, five German mer- chantmen and several prizes the Ger mans had taken. Of these vessels one destroyer ran ashore and was cap. tured and it is believed the Austrian cruiser was blown up. It is possible that the German ships met a similar fate.
 Great Britain is not yet satisfied that all has been told of the Pacific naval battle and continues to hope that the German cruisers Leipzig and Dresden. whic hengaged the Glasgow and which have not been reported since the battle, have at least been damaged.