davidaulloa/AmericanStories huggingface dataset:
The Birmingham age-herald., 1914-04-04
'. [. |. ID HEAR RATE
 ADVANCE ARGUMENT BEGINNING APRIL q
Brief in Case Must Be Filed One Week Earlier-Pres- entati0n of Testimony
 Is Concluded

Washington, April s.-Argument on the application of eastern railroads for per cent freight rate increase will begin before the interstate commerce commis- sion April 2. and briefs in the case must be on file one week earlier, April 20. Chairman Harlan announced this late today on conclusion of presentation of testimony by the railroads.
 Briefs and arguments will deal with the first of the two fundamental ques- tions suggested in the commission $ or der instituting the pending proceeding:
 Do the present rates of transportation yield adequate revenues to common car riers by railroads operating in official ca ssification territory?" All collateral questions and extraneous issues that have been injected into the proceeding will be put aside until this question has been determined.
 Terminate Proceedings
 If the commission should decide that existing rates are adequate to the car riers' needs, that will terminate the pro- ceedng. If, however it should be de- cided that present revenues of the rail roads are not adequate, tde second ques- tion, "lf not what general course may carriers pursue to meet the situation? will be argued, perhaps at a later time
 The real problem before the commis- sion. if it should find present revenues inadequate is whether the additional needed revenue shall be raised by an advance in rates or. at least in consider able part, by a charge against shippers for various sorts of services now rem dered by railroads free
 If the commission should decide that the railroads have established the neccs- sity for additional income, Chairman Har- Ian explained today, the commission would proceed immediately to determine how the additional income should be raised This proceeding would involve the presentation of some arguments and. possibly. brief additional hearings on some of the collateral questions. In any event MT. Harlan felt assured it would consume little time.
The Birmingham age-herald., 1914-04-04
Local Data

Tor the 24 hours ending at p. m
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-04-15

The stockholders Of the Central Foun-
dry Company at their annual meeting
elected T. u. Pollak to fill vacancy in
the board of directors.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-04-15
COTTON LOWER
AND UNSETTLED
General Conditions Affect the
Market-May Leads the
Decline.

Rumors Of less active demand for low
grade cotton in the South. decreased
call for old crop positions here, uneasi-
ness over the Mexican situation, and some
talk that Southern spinners had sold out
May contracts to replace by purchases
of spot close at hand. caused consider
able weakness in the cotton market yes
terday. with May leading the scale down
and going about 81 bale below the high
OF last week. The close was steady, net
IS to % points off on near months and
to 10 off on July and later options.
The census report showed domestic
mill consumption Of $3.50 bales. includ-
ing linters, for March. against 4sJ,513 last
year, and domestic mill stocks Of l,S0l,-
80 bales, against 1881. 55l last year. Local
statisticians figured that these 1gures
brought the domestic. mill consumption
for the first seven months Of the season
I'D to $4,000 bales against 3,36o,00o last
year, and that a continuation of the av-
erage rate Of consumption for the balance
of the season would mean a total for the
trade wear Of 6,O2i,0o0 bales, against o.
$4,000 last season. Bearishly disposed OPP
orators, however. regarded the hgures as
introducing no fresh element into the slt-
uation, as they point out that they are
merely i'm line with previous ideas of the
worlds requirements. Southern spot mar
kets were unchanged to 1sc lower, ana
the local market was quiet at a decline
of . points 10 13l0c for middling upland;
no sales. Local contract prices.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-04-15
TO REDUCE U. P. DIVIDEND
Litigation Will Not Interfere
with Cutting Common to 8 P. G..

Robert 8. Lovett chairman OF the Union
Pacific executive committee. following a
meeting OF the committee yesterday, is
sued a statement in which he said that
the postponement by the court of the dis
trbution OF Baltimore & Ohio stock and
So a share in cash, amounting I'm all TO
approximately sSS 000, 900 to the Union Pa
cific common stock holders, would not in
terfere with the companys plan TO reduce
the dividend on those shares from 10 per
cent to per cent per annum, al the
next dividend meeting. Mr.. Lovett's
statement follows:
There seems TO persist some misun-
Outstanding respecting the dividend policy
Of this company. When the extra divi-
dend was declared last January. 1t was
distinctly stated that, as the stockholders
would receive a return of POI per cent per
annum from the Baltimore & Ohio stock
and cash distributed, the regular dividend
would be reduced to per cent per an
mum. While the actual payment of the
extra dividend has been postponed, owing
to litigation, the condition remains the
same, that when the extra dividend IS
paid, il will be 70 stockholders of record
March 1, and will carry with it all divi-
dends paid on Baltimore Sc Ohio stock
after April l and interest earned from
that date on the cash part of the diyi-
dend. AS the stockholders Will thus
eventually receive these accretions, it Is
manifestly proper that the next regular
dividend on the common stock OF this
company should be at the rate OF per
cent per annum.
1.-THE next sem-annual dividend OF the
Baltimore g. Ohio will be payable Sep
TENDER /, and will cover the period from
March l. 1t is hoped that before that
date pending litigation will be disposed Of.
"Of course IL the payment of the extra
dividend should be permanently enjoined,
I should expect the Union Pacific to pay
its stockholders the difference between
the per cent and 10 per cent rate. since
in that case it would retain the cash and
Baltimore &; Ohio stock, which, through
its extra dividend. it has undertaken TO
distribute.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-04-15

The Globe and Rutgers Fire Insurance
Company at the annual meeting yester-
day elected Alfred Nj. Rogers and DAVID
Mahany TO the boar dOf directors.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-04-15
i0PICS OF THE DAY
" IN WALL STREET
.,rket Little Disturbed by
Chance of Trouble
with Mexico.
,o,GHT OUTLOOK FOR
0N, GALE OF CITY BONDS
,oyett Explains the U. P
Jug qs',adend Programme-Gold
Exports Nearer.

more than casual inquiry
SOne, sroters and their customers yes
mons Ala not disclose any Apprehension sl',,
.srday S, a, might happen 10 the stoch
yer .I ,S this country found itself pound pound
rsTKe' = D.ar with Mexico. Announcement
Oso " Atlantic feet had been ordered
hat inc 80 Tampico was received with
% pI0 ,1,srest but its first effect On 'ne
yea. market was in the scurrylns .v o.
f0'h ms cover. Notwithstanding that sell
hor's :. ,he time the news was known
ns w :. treer than on any other recent
''d 0s p.onle remembered what had nap
lay 80 outbreak Of the Spanish " ar
's~ boom began then mat sp'e ,pa orIv
VOW s, many months-and about 'ne o1,s
sIss. shown was among the timider
'NV-s ~ the large short interest out
nenD More las it happened 'hah
Hl"~ a.a o, any fears arising out Oh 'ne
xcau.V situation, according to persons
ssA''a 'a,ised 10 Judge. the days volume
ven us was the largest since the
., S ., January. about $4,000 shares
nloO'. hands Incidentally, the aver
'nansno =, stocks at the close was very
ns p'., 80 the low price of the year,
''u' ~ January 8, but practically al
= III. decline had been maoe Oe'O'
'.r -. shout the feet was known
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-04-15
CITY BOND SALE today
Bankers Predict City Will Get
Good Prices for Issue.

Bankers in the financial district were
reticent yesterday in discussing any bids
they may make for the S.. 900, 900 AZ per
cent New York City bonds. which will be
sold by the Controller to-day. Two or
three "all or none" bids are expected. and
it would not be surprising II the entire
issue were disposed of in this way. There
was much speculation as TO the price the
city would get for its new loan and the
consensus Of banking opinion was that
the average bid price would be higher
than the 10l .2s obtained in March 1910. for
the sJ0,0oO0OO issue then sold. That was
the highest price ever received for A.. per
cent New York City bonds
The bids will not be opened until 1850
o'clock. Among the banking institutions
which have been prominently mentioned
as probable bidders for the new bonds are
the Guaranty Trust Company. the Ma
tional City Bank, Kuhn. Loeb s. Co.
Harris. Forbes & Co., and William A.
Read & Co. on the Curb yesterday the
new AS, when issued. closed at 1915. The
high OF tho day was lo1 1916.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-04-15
VAN TUYL MET. TRUST HEAD
Immediately Resigns as State
SUPERINTENDENT of Banks.

George c. Van Tuyl. jr., who has been
State Superintendent Of Banks since May
%. 1911, when he was appointed by Gov
ernor Dix, was yesterday elected president
Of the Metropolitan Trust Company. His
election caused no surprise in the financial
district, as his friends have known foe
several months that he would sooner or
later ill the vacancy caused by the reslg-
nation Of General Brayton Ives over a
year ago.
Mr.. Van Tuyl was first elected a di-
rector. and at meeting Of the bank
board. Immediately following, he was
unanimously chosen president He was
notified OF his election at the offices Of
the State Banking Department, in the Co
lunbia- Knickerbocker Trust Building and
hurried over to his new desk TO write his
resignation as Superintendent OF Banks
As Eugene Lamb Richards. the new
incumbent Of that office, will not begin his
duties until May Q, George I. Skinner,
First Deputy Superintendent OF Banks
will serve in the interim.
Although a Republican, Mr. Van Tuyl
was appointed State Superintendent Of
Ranks by Democratic Governor. lie
was formerly president Of the Albany
Trust Company and began his banking
career as messenger boy in another bank
in that city. Had he not resigned before
his term of office expired he would have
retired from the service OF the state on
May %. The passage of the Van Tuyl
banking bill was largely due to his eff
forts.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-04-15
III. ,J,;on Pacific dividend.

g Ioyett. chairman Of the Union IA
,isc board. made clear yesterday what
r,sto be done about the dividend wv ME
N. actual payment of the extra DIVIDEND
has been postponed owing to htigatloh'
me condition remains the same-that
when the extra dividend is paid 1t VIII De
IN stockholders Of record March J. anu
will carry with it all dividends paid on
Baltimore & Ohio stock after April ana
interest from that date on the cash part
Of the dividend As the stockholders VIII
thus eventually receive these accretIohs'
il is manifestly proper that the next reSu-
lar dividend should be at the rate
Of per cent per annum." Interest on the
ash, the SO adjustment is to be PAID
but no interest. apparently, on the cash
received from the Baltimore & Ohio dIVi-
iend Presumably the interest on that
money will 90 TO meet the cost Of defend
ing the company IN the litigation.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-04-15

Sales in this market yesterday for for
eign account totalled about l5O~ shares
on balance.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-04-15
PRICE MOVEMENT
OF COMMODITIES
War News Sends Wheat Up
Corn, Oats and COT
fee Decline.

Just why the Mexican situation should
have a direct influence on the local wheat
market was not explained. but It was
credited with being the cause Of an access
OF bullish sentiment and an increase In
price OF %g7sc net for the day. All the
other news of the day was against values.
except rumor that Hessian flies had ap-
peared in Kansas. The change OF rules IN
Chicago caused some nervousness and IT.
regularity in corn, and there was consid-
cradle decline. but late rally left the
price unchanged TO i.c down. Oats also
were easier early. but partly recovered
in the late trading. and the close was at
unchanged to &c down
An apparent willingness on the part or
Brazil TO make concessions, added TO the
influence of weak and lower European
markets following the Easter holidays
had depressing effect on the local conee
trade, and while the close was at little
above the lowest OF the day. finol prices
were net TO II points below Mondays
finals.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-04-15
MINING.
BONDS.
STANDARD OIL SUBSIDIARIES.

.Er dividend. tsens cents per share.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-04-15
e..d Outlook for Bond Sale

,.- os the barometer OF hnahcl"i
*.n showed last night. the prospect
PIN. .Ss citv's bond sale to-day was as
,,rctly bright and fair no one at any
NV. un."f has had a doubt but that the issue
''" IVA oil be sold, or that 1t would DC
NO.,r TO some extent. To Wha'
n ',.0t oyersubscription would run how
49, authorities differ. Municlpal ooiUs
=. IN especial favor now because o.
~. cay exemption privilege and De
n D"s. neither Congress nor the Depart
.ar o, Justice nor the Interstate Com
.,.rcs Commission has anything 10 u0
~ nv chem. They are out OF the cohtro-
S W.. class. A municipal bond that can
:. nougbt 10 yield the purchaser some
'sirr over 4 per cent and that Will let MN
,,,.n nights whether he owns one OF
sn,sr.d Of them is regarded by the aver
-. Investor as something well worth
having Probably the number OF appil0"
,o,, tor the bonds to-day will prove 10
- more interesting than the total OF DOL
ave In the bids
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-04-15
RAILROAD.
AIISCELLANEOI
BONDS.
MINING.

81. OOOCJ& IS 1915. lO0ls 1o9is 1901 1909
900 do As 100. 50 81 -,
900 Mass Gas 4ias 20 slt S,t w 80
5000 Tel 5s 1882 1909. 1904 lVss i997'
| 900 Pond Creek 100 100 100 ivy
& 90 l. ITuit as 1879. 81 % W W
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-04-15
EXPORTS.
GENERAL MARKET REPORT.
New York. April II. 1914

New York, April II. 1914
GRAIN 49, WHEAT - The Developments IN
connection with tho Mexican situation app
uarently had a bullish influence on sentiment.
at any rate. after showing heayness most OF
the day prices rallied at the close, and maj
quotations were ssg7sc net higher. The green
bug scare appears % have petered out, but
there were rumors that Hesslan fly had been
discovered in parts Of Kansas Foreign mar
kets were generally heavy Local exporters
said that about 30 loads Of Manitoba wheat
had been worked during the last two days.
In the local cash market No hard winter
wheat was quoted at 81 | {, New York; NO
red 81 "a elevator. and No ! Northern Dulutn
and No / Northern Manitoba 81 0O4l T
afoat opening navigation. CORN-Neryous ana
unsettled partly as a result OF change or rules
In Chicago, which resulted I'm trading IN Oh
and new style contracts for the July and sep
TENDER positions and partly az a result OF
speculative operations and covering after MOD
DAVIS sharp break There was c0nslderaDlr
selling early. and prices at one time were ~
&c lower but offerings were small In the Idte
trading and final prices were steady az net
unchanged 20 10 lower. Cash No. yellow
corn was quoted az 76c c I 70 arrive. OAlS
The market was easier on the me weather
over the West but late IN the day there was
a martial recovery. The local cash market was
guiet: standard white. 43isq4ic; No ? 44aHizci
No 343q43izc. fancy clipped 45lzg45c, az eie-
vatorr RYE-Steady; No western, ts.7o
G Z. New York export. BARLEY-Steady'
mailing, 6OG6ic, 1 I, Buffalo opening raw
cation
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-04-15
CHICAGO WHEAT HIGHER
Corn Also Up-Oats and Pro
visions Decline.

Chicago. April li.-Tightness became
acute to-day in the May delivery Of wheat.
Offerings were so scarce that shorts who
wished TO cover had 20 bid prices up
with such vigor as to affect the entire
market The result was a strong close
at 3 to 7sc net advance. Corn finished
the same as last night TO Ease higher;
oats unchanged TO 1.c off and provisions
down a shade to l0c.
Nervousness on the part OF wheat
shorts had an early stimulus, marked
falling off in domestic receipts northwest.
Beayish feeling, which at the outset was
prevalent owing TO lower cables and 10
favorable European crop reports, gave
way speedily, and the upward tendency
thereafter had no serious check. In the
oversold condition OF the market prices
were sensitive to talk about HesSian ny
in Missouri, Kansas and Illinois Range
OF prices:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-04-15
TRADING in THE
CURB SECURITIES
Oils Decline Further on a New
Cut in Crude Productivity
Bonds at 1917.

Slack trading, with continued lower
prices was again seen on the curb yes
terday. Sharp declines were made early
among the More active oil shares on news
Of further reduction in the price Of
crude oil. This was followed by general
losses in the industrial and mining lists.
South Penn Oil sold down 30 points.
Prairie Oil and Gas %, South Pipe Line Is
and Standard of California H. Losses OF
from to points were made In other
prominent issues.
Maxwell Motors, common and second
preferred. each advanced a fraction.
Riker Hegeman opened firm, but made a
fractional loss from the high level OF
the day. United Cigar Stores common
yielded three-fourths of point. The
mining list was heavy on small trading.
New York City AIS when issued were
in fair demand. selling as high as lOl l5-lo,
but closing at lois.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-04-15
American Power and Light.

A combined statement of earnings of the
Southwestern Power and Light COM
pany's subsidiaries, the Kansas Gas and
Electric Company. the Portland Gas and
Coke Company and the Pacific Power and
Light Company, subsidiaries OF the Amer
lean Power and Light Company, for Feb
ruary shows gross earnings Of S46745, an
increase af 0.437, or y per cent, over
February. 1913, while net earnings, after
expenses and taxes, were s25l,l12, gain
of 5000, or II per cent. For the twelve
months ended February IS, 1914 combined
gross earnings were $5.992,965, an increase
Of $5SS. ga, or II per cent, and net earnings,
after expenses and taxes, were S2,156'o9I
gain of 1852, 1l5, or 10 per cent over the pre-
ceding year. These figures represent earn
ings of all the properties owned by the
companies named, regardless af the dates
of acquisition.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-04-15

Stockholders of the Royal Indemnity
Company of New York at their annual
meeting yesterday elected Charles r.
Frizzell a director to succeed 3 >
Auchincloss, resigned.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-04-15
All Is Not Gold"

= hard for the Wall Street broker
, any money. Paper profits have a
~ " shrinking when attempts are made
g., ..''eT' them into hard coin. and even
s,. money Itself can shrink. Two
49, VINO had matched for cigars or
N Tines innumerabie with the
- w gold pieces recently decided 10
~ i'f The coins themselves. The man
49,. ~sl offered 70 redeem his pocket
ls,.' YIN 10 bill, but on his friends
IN ..s dia not urge the matter. Struck
49, worn condition of his prize. the
sy,, wen had the curiosity % take II
,b.. !" ms Assay Once, only 20 learn
80 s abrasion from constant exercise
's'esa Tie value of the coin u ~ u.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-04-15
Gold Shipments and Exchange.

Between the sharp decline Of Paris eX-
change on London-now down to the low
est figure since December, l9l2-and the
advance Of sterling exchange here the
tine for further exports OF gold from Ne"
York 10 Paris has grown appreciaoly
nearer. The higher exchange rises here
The less need be the decline at Paris 10
rake gold shipments through triangular
tpsration feasible. The Bank of France
As has been noted frequently does not
Wait until exchange makes commercial
Transactions in gold profitable, but neither
Isl likely TO hasten its imports when eN-
change rates are about 10 move heavily III
Us favor. II 10 can get gold without haV-
ng 10 pay too hieh a premium for IT 1t Is
not so altruistic that it viii forego the
opportunity. So far as is known in New
York. Paris exchange on London is likely
% decline several confines further as
outstanding loans are recalled 10 give
support 10 new hOtatiOns Likewise
sterling exchange here seems to be on its
way 10 higher levels The offerings OF
sornmodity bills have slackened very
Greatly, and the finance bills drawn Jr
Europe for the purpose Of carrying stocks
mere, which have been spring feature IN
"nsr years, have little excuse for exist
enes this year. There may be an
.hss,tlement Of exchange rates here If
Lu'ope buys many OF the city bonds at to-
Gays sale, but 1t is likely. II it occurs at
al 10 be no more than temporary. In all
PROBABILITY the increased demand for let
"s Of credit as the tourist season APP
HOsehes is height will likewise have d
A<fdeninE effect on exchange.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-04-15
Western Unions Earnings.

Total operating revenues OF the western
Union Telegraph Company for the two
months ended February IS were s6,754.7l2.
a decrease OF slil,4so. The operating in
come was s1.2F.356. an increase OF $3.50
In view of the classification OF accounts
prescribed by the Interstate Commerce
Commission. effective January l. 1911. the
directors have decided that this statement
and future quarterly statements shall
show the latest available results OF actual
operations and that the practice of sub
hitting partly estimated quarterly earn
ings shall be discontinued.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-04-15
ON THE CONSOLIDATED
Gains on the Call Soon Wiped
Olit-Market Broad.

Business on the Consolidated Exchange
Yesterday was unusually heavy, the day
total of 69,770 shares representing the
largest turnover since the middle OF Jan
nary. The market was the broaoest Oh
the wear. sixty-nine different issues being
ON tine list. United States Steel was again
the feature, its sales amounting 10 -"i"
shares.
Price changes on the opening call gem
orally were gains. but the improve
ment WAS shortlved. Steel on the can
changed hands at 59is and 1878. and at
the lowest level IN the afternoon. did no'
get under So. Reading did not sell unoer
1s9is. Consolidated Gas changed HANDS at
fnQg
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-04-15

'New style contract.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-04-15
Where Plenty Is Too Much.

oA'y because there has 70 be some quo
uoa Tor Mexican exchange IL is quoted
= AZ That Is the figure set by the Ma
."'a' Railways Of Mexico IN the adjust
y, s'n' OF freight charges A quotation Of
= = means simply that for one good Amer
!, -" ooiiar the person willing TO swap can
- sNiee and half Mexican ones, or that
''sH'csn dollar In worth a little less
an - cents United states. That Is 10
~, "a Mexico they reverse the usual
80" and make % cents look like a
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-04-15
TO INVESTIGATE PAPER CO.
Special Committee Named to
Report on June 16.

resolution calling for the appointment
of a special committee 10 investigate the
financial condition OF the Union Bag and
Paper Company was passed at the annual
meeting of stockholders yesterday. This
committee, consisting OF President Riegel,
Guy Morrison Walker and August Heck
scher, will make report on June 10. Inc
number Of the company's directors was
increased from fourteen TO fifteen and Mr..
Walker was added 10 the board Vice
President 4. J. Kimberly, jr., was also
elected a director 10 flll a vacancy.