davidaulloa/AmericanStories huggingface dataset:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-06-04
BUSINESS OUTLOOK
GROWING BRIGHTER
Federal Reserve Board
Reports Generally I'm
proved Conditions.
WAR SUPPLIES
A BIG FACTOR
Reduction of Unemployment IS
Found in New York District
Crop Prospects Good.

Washington, June g. General bust
ness and banking conditions through
out the country, az observed by the
Federal Reserve agents OF the twelve
regional banks, arc set forth in the
monthly bulletin of the Federal Re
serve Board issued to-day. Improve
mcnt was reported by most OF the
agents, while others noted that the de
mand from Europe for war supplies
was keeping many industries busy.
There is general feeling Of op-
timism in all lines Of business in this
district" said the Boston report, "and
slight improvement in most lines,
with the possible exception Of the shoe
and leather trade. Foreign government
orders are reported to be coming into
this market almost daily, and trades
directly influenced are doing good
business"
The New York agent reported re-
duction OF unemployment and said:
"Throughout New York State farm
crs. fruit growers and dairymen antcl-
pate a good season. Factories produc-
ing goods for domestic use are not
busy, and new orders come in slowly.
The manufacture Of war supplies con
tinues above normal capacity, and IS
extending to plants normally otherwise
engaged, thus partly ofsettinG slack
domestic trade"
The Philadelphia agent reported that
war orders and their influences were
helping many industries. "Gener !
trade. however" he said, upon which
in the long run We must depend TOR
our prosperity, il still dull and much
below normal. Collections are fair.
On the whole. in this district, business
is hesitating and concerned over the
outlook. Some lines producing for do
nestle consumption are improving
slowly"
Trade development in May has been
favorable" said the Chicago agent.
"Noderate improvement is noticed in
the leading industries, especially iron
and steel and the metal working
branches. and az more satisfactory
prices. The continuation Of the serious
labor troubles in the building trades at
Chicago is depressing factor there.
Movements Of crude materials and nm
ishcd products Of factories show steady
gain. The outlook for manufacturers
a whole is regarded as improved
General business conditions in this
district" reported the st. Louis agent,
Especially in the larger cities and
manufacturing centres, while still
below normal. indicate a continued,
though slow. improvement. The manu-
featuring industries. except those af-
fected by war orders, show less i'm
provement than the general jobbing in
terests."
Satisfactory agricultural conditions
in the Northwest were reported by the
Minneapolis agent. and purely financial
conditions in the 10th District were re-
ported as exec lent by the Kansas City
agent.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-06-04

ster Ray last night, and he was asked
II he cared to comment on Il.
Il have nothing to say" he replied.
George ". Perkins said:
81 think it il up 10 Nr Taft and Nr.
Wickcrsham TO apologize 10 the great
American business interests for their
action in bringing the steel suit. Il
viii be recalled that MIR Roosevelt held
that there were good trusts and bad
trusts. and that, as President, he used
the Department % Commerce 70 inNcs-
tcatc the Steel Corporation. He de-
cidcd that the Steel Corporation was
not IN violation Of the Sherman law
and did not bring tho suit Mr Tai;
did bring the suit, with all the SERIOUS
disturbances that followed 20 the bust
ness fabric of this country
Members Of the firm OF !. 7. Morgan
declined 20 comment on the decision,
hut the attitude Of the firm was said,
naturally. 90 be one Of rejoicing. y
was considered unbecoming for mem
hers OF tlc firm 90 make amy commcn'
i"'.. .I....1 ,,,.L to corrorat, ION
"-'leH ,l.'. 80 ~ fo, ,tsclf
"to Nv IT,, ..' D'' ..'4 &c.. ono would
N"NI"Gf'H' .bo r,.tter
mo" NO" ,uC! i , :" - uorrv Clows
. ,rto''iS .,'l 49, 'sa,5.
0'' .''' ,o' = 5o.;s;or ,o,v favor
~, t...'.',,l e;.ro,ior and that
A'ie TO .a' ouN, H., o,,or'nrc limo The
J., las cum -. on r,crsco aver
p'"o'lb S'.5 -, .ko"cb nor
business anu ,.' fa,,,rabio
k9"pS' nov "..n' ok. nL.,,, rc,nrr Of
factor '' "' '.F'"N "''", ''''''
'oH..cc.'''. ,,,.,- - -ro,,hc- 81 tho
-. I an .u.Lor ON
S,ocN L\cI".tt "n aIi Tm " nicb, cha.
'H'S "a. >u''''.' ~ -, .is r,,,r, 'r
me "''.' %" ,.'.''..e,, ,,.e,.i =
favor OF lie '''e4 OF "I"''tl NoU'"
'Ihcr"i' iae cons..u''.'' puSiIrSS
emerge OF ne 'ou''' 80 io's nam
Icred ana oppressed ~ we 'o'
mont "oN!d 'urh ,n' 'noue III anu
c"ort o. business IroIn S'!l-PIoloc, .o'l
against the government 20 CONSTRUCTIVE
cHort .,,
'' genera way u Is nhIu 10 t@aA
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-06-04
URGE COMBINATION
in FOREIGN TRADE
Henry p. Dawson and
Others Appear Before
Federal Commission.
S6,OOO,OOO SAVING
IN COPPER MERGER
John B. Ryan and W. h. Huel'
ings, Jr., See Profit in
Cooperation.

The matter Of foreign credit received
much attention al the first formal hear
inc Of the new Federal Trade Commits
sion NJ the Custom House yesterday.
Largo concerns with foreign trade Of
from 30 TO so per cent Of their total
transactions we're represented before
tho commission. Foreign branches OF
hanks. division 81 foreign territory INTO
areas 10 reduce competition ana deVei-
onmeu, Of shlpping facilities were me
main things advocated.
/. +. Waterman. tho fountain pen
manufacturer. is satisfied with present
antitrust laws. but Henry 7. Dawson
of J. =. Morgan q Co. said That some
form Of combination between units or
manufacturers IN their foreign safes
would be beneficial 10 American trade.
He said it would cut prices, erect con
and benefit American STOCK
holders. Mr.. Dawson also attacked me
sherman antitrust law for It's lack OF
directncss in what IL prohibits.
Foreign trade secured through big
was praised By John Is.
Pan Of tho National Foreign Trade
Council. and president Of inc Anna,
panatcd Copper Company. lie named
tho Standard oil, the National Casa
Register and the National Harvester
as leaders in this trade; ana
said that they we're virtually conplna-
lions for the carrying on Of foreign
trade.
commissioner F. n. Hurley asked
how much the copper producers OF the
conntrv could save TO the American
people in a year if thew were allowed
to combine, and Mr.. Ryan answered
that the saving would reach S6oOO'UVO'
based on the prices OF the last ten
years.
W. II. HeulinPs. ir.. vice-presldent
of the J. 4 G.. Brill Company. OF Phila-
delphia. thought concerns would prom
hv combining TO meet foreign compet-
ton. He also advocated tariff law
against pic iron and iron rails. mainly
for protection against Canada.
THE day of free trade IS past de-
clared Mr.. Heulings. THE next war
Is going to be trade war, and the
fight will be to the finish The foreign
trade agreements are going to change
cur business methods materially IN the
next few years"
W. II. Field. OF the United tXport
Bureau. urged low-price warehouses at
centres of population in South Amer
lea. government department aiding
manufacturers in pooling and dispos-
ing of their products. and patent laws
preventing the stealing Of our trade
marks.
Russia was advocated as the most
desirable field for exports by {. b.
Jennings. of c. B. Jennings & Co..
hardware.
Mercer c. Mosely, publisher Of The
New York Commercial" and Of "The
Blue Book of Foreign Trade spoke
tor general trade information on cred
its. A number Of manufacturers ami
exporters will appear before the com
mission to-day and tomorrow.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-06-04
STEEL SUIT BEGUN
UNDER TAFT REGIME
Started by Attorney Gen
eral WiCkcrSham After
Congress Investigation.
TESTIMONY TOOK
$4,000 PRINTED PAGES
Prosecution Most Ambitious NJ
tempted by Government I'm
der Sherman Act.

Tho suit against tho United States
steel Corporation was fled at Trenton.
y. !. October 2s. 1911, during the Taft
administration, and was started by
George W. Wickcrsham, then Attorney
General. Prior to the fling Of the nc
tion the corporation had been under
investigation several times. II was
preceded by q Congressional investiga-
tion by committee headed by Repre-
sentative A. G.. Stanley, Of Kentucky.
The testimony. EXHIBITS. briefs and
written and oral arguments were cx-
cccdiugly yoluminous. The examiner
in the case sat 16G days in nine differ
cnt cities. and heard 400 witnesses.
The testimony made up 81 volumes
containing $1,000 printed pages. There
were more than 1850 pages of printed
arguments, aside from the answers
fled Is the many defendants, and the
oral arguments SLED more than $500
typewritton pages.
The defendants named I'm the orig
inal bill. Of complaint were the steel
Corporation. its subsidiaries, and j. +.
Morgan .dcccascdI. Charles steele.
George ". Perkins. L. II. Gary. Charles
VI. SchWab. Andrew Carnegie, Henry G.
Frjck. James Gaylcy, William H..
Moore J. H. Moore. Edmund G. Con-
verso, Pcrc.val Roberts. jr., Daniel G..
Reid. Norman b. Gcam, John D. Rookie
Teller. John u. Rockefeller. jr.. p. A.
3. Wideuer and William p Palmer.
past or present directors Of the Cor
poratioH. together with certain com
panics, known as the James j. Hill in
tcrests. and Louis W. Hill. James ".
Hill. Walter J. Hill. Edward T. Nichols,
j. II. Grubcr. who wc-o sued as trus-
tees Of the Hll companies.
In brief. the general charge against
the defendants was that some Of the
companies in themselves were com
biuatious i'm restraint Of trade and that
the creation Of the Steel Corporation
which took in the steel and other COM
panics named i'm the suit. was IAN at
tempt to monopolizc and mo0opoliza-
ton" in violation of the Sherman anti
trust law.
The Covcrnm, Mt complaint stated
that the Federal steel Company. Car
ucgic Company Of New Jersey, Amer
can Steel and Wire Company OF New
Jersey, Nationa! Tube Company. Ma
tional steel Company. American Tin
Plate Company. American steel Hoop
Company and American Sheet Steel
Company were each a combination OF
companies or concerns IN restraint Of
trade. that competition was largely
eliminated in their respective lines;
that Al the time the United states
Steel Corporation was formed the Car
nec.e. Federal and National were in
active competition with each other;
that several OF the companies were
preparing TO still further Increase their
capacity 20 compete by establishing
themselves along new lines of manu-
facturc. and that for these reasons and
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-06-04
STEEL VICTORY CHEERS
WORLD OF FINANCE.

Theodore Roosevclt-I have moth
ing 10 say.
George W. Perkins, think II Is
up 10 Nr. Taft and Mr.. Wiokcrsham
to apologize to the great American
interests for their action In bring
ing the Steel suit.
l.. II. Gap-It should have
great and good effect upon business
coditions throughout the country.
Frank \. Nanderlip-lt will put
cheer into all Of us In the face of
what has recently happened.
!. +. Morgan x Co.-Attitude of
silent rejoicing.
Henry Clews-I consider the de-
cision very favorable 10 the bust
ness situation and that II has come
at an opportune time.
The Rest of Wall Strect-A new
era for big business.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-06-04
TAFT REFUSES COMMENT
Waits to Read Decision Be
fore Talking About It.

Philadelphia, June 3. Former Pres!-
dent William H. Taft refused TO COM
ment on the Steel Corporation decision
Whe- seen at the home OF Theodore
lily. in Bryn Mawr, tonight.
he said he had not seen or read the
decision and had nothing to say abou,
il until he had.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-06-04
DECISION MAY
OPEN NEW ERA
continued from page l

bids as high as 60. compared with the
official closing quotation Of j9as.
In connection with printed reports
concerning the current operations Of
the steel Corporation. which IN some
quarters were made the basis for bull
tips on the stock, Judge Gary said:
az make this statement because other
statements not justified or authorized
have been given out. Our last reports
show our companies. taken as q whole,
are operating from 81 to 50 per cent in
ingots. and from Is 10 IS per cent in
exports"
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-06-04
Perkins BlameS Taft;
Roosevelt Is Silent

A summary of the steel decision was
placed Sefore Colonel Roosevelt at Oy-
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-06-04
Roosevelts Words Cited.

The subsequent acquisition by the
Steel Corporation Of several properties.
including the Tennessee Coal and Iron
Company and the James J. Hill ore
leases, are discussed in the opinion.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-07-04
H. A. LOZIER'S CAR A az"
II Will BE Called the OH. 4. L."
and VIII Sell Mt sI,7SO.

The car with which II was promised
that Harry A Loz.er would make his
return to the automobile manufactur-
Ing field Is "A twelve cylinder. selling at
Sl,I5o. The machine. to be known az
the II. a, L." Is sac TO weigh. with
tanks filled. full equipment and spare
tire, not TO exceed $500 pounds. The
wheel base Is 1870 inches and tires are
34X4.
The following parts only are located
between the cylinder castings. or in the
". as II is commonly called Carbu-
refer, Intake manifolds. water connec-
tons and distributor. In n V motor Of
the l. head type there are In the v
the exhaust as we'll NJ the intake mani
folds n in some cases the starting
and lighting units.
The valves are seated directly In the
easily removable head Of zach cylinder
casting. This arrangement. Lozier de-
clares, renders them more accessible
and quickly II accurately adjusted.
The exhaust manifolds are between
the cylinders and hood. h starting
and lighting units are on the engine
base. one OF the many points I.ozier
claims for his new car IN the almost
total absence OF noise when the car Is
In motion. The valves are housed. in
surfing motor silence. There will be no
body, fender or running board squeaks.
II IL said. due to "A new principle Of
body construction,
The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-07-04
DEALERS APPLAUD
NEW STUDEBAKERS
Show Appreciation by Wiring
In Orders for 1915 Line
Of These Cars.

The power Of advertising vas fully
demonstrates last week when the an
nouncement Of 1916 Studebaker models
appeared. For some time dealers
throughout New York territory had been
alert to get the first word OF the new
types. Immediately after reading the
news they began ~telegraphing orders
TO /. r. Bump. S~tudebaker's New York
branch manager.
THE first indication OF a cars pros
pective success IL gagged by dealer APP
probation" said Mr.. Bump yesterday.
He pointed to a pile Of kilograms on his
These are gratifying assurance thai
Studebaker has produced n car the
public wants. The congratulations they
contain are sincere expressions OF opin-
ion. for they come from our severest
critics. the men who sell our cars. They
are substantial testimonials. because
they contain orders.
But in our show room any day this
week you would have heard the same
appreciation from the general public.
A price reduction on the cars Of the
1915 types would have been remark
able. but when you consider hat these
reductions are on 1915 cars OF greater
refinement of line. of consistent improve.
ment in detail. OF greater motor power.
the reduction Is absolutely phenomenal.
II il due TO factory betterments and to
quantity production. The great majority
OF parts are interchangeable, thus bring
ing the fours and skies almost to one
standard tyne"
The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-07-04
$780, 900 FOR A FEATURE.
HudsOn Company Spends That
Much on Ever-Lustre,

"The Hudson Motor Car Company"
says Harry s.. Houpt. the Eastern dis
tributer, has been responsible for a
number of innovations in motor car
design during the past four years. The
Hudson was a pioneer in ~lightness, In
lucrative economy and in class at a
moderate price. II has been a leader
in that Unconscious moderation and re-
finement which is gradually taking the
place of extravaganza and ostentatious
display.
at is only a little over twelve months
since the 1916 Hudson sold at Sl.75O.
and now the price is 1850. due TO a
doubled output. Also II liz worthy of
note that in that period alone ovei
fifty improvements have been added"
One OF the leading features Of the
new Hudson Is It's wonderful finish this
year This finish. Mr.. Houpt states
will keep its lustre longer than mos,
motor cars, In order to arrive at this
the Hudson Motor Car Company
erected a series of colossal ovens In
ono OF the great extensions Of II,
plant. and these are capable of car.ng
for hundreds OF bodies at a time.
Az each coat is applied It is baked
on. Before going into the over
every coat Of finish is applied by a new
process under pressure. The result of
this new method is "A satin finish which
defles the wear and tear Of the elements
better than ever before
This moro lasting finish comes As a
welcome relief to motorists, as nothing
has been SO eNasperating AS the name
in which the finish Of the ordinary run
OF cars becomes duh and shabby look
ing, The expense OF this one feature
alone. Mr.. Houpt says. runs up to
800. 200.
finland his looks like an expense
which could be easily dispensed with.
but IL is the activity Of the Hudson
designers In refinements OF this nature
which il responsible for the position
which the car occupies TODAY. As Mr..
HOupt points out, 1t Is not every man
ufacturer who IL in "A position to spend
money IN this manner, but some who
are able and should do so are gov
erned by n skimping policy OF economy.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-07-04
RESTA BREAKS RECORDS.
Drives PeUgeOt Equipped with Sill
vertOwns mt speed.

The winning OF the 500 mile Chicago
Derby and the performance OF many OF
the drivers Is another victory for
Goodrich Silvertown cable cord tires.
l"sta Won the $4,000 prize at IN aver
age speed OF 97.G miles an hour with his
leugeot equipped with Silvertowns.
The ten cars which finished were
no equipped with the Goodrich prod
r.r These were PorIorato, Sunbeam
Nnkenbacher. Maxwell Grant. sun
l.am Earl Cooper, Stutz Anderson.
S'I'z Alley. D~uesenberg Chevrolet,
IeIagc; Burman, Peugeot, n Joe
cooper, Sebrlng.
Ilcsta made only three tire changes
dining the entire drive OF 500 miles In
t}I'e Of the strain due to the hiGh
tur!e Of the track at turns. More re-
mprkable still was the record estab-
.thed by lfarr~ Grant. who drove q
tIuleam lii. entire 500 miles without a
srgle stop This breaks all nonstop
records and Affords another proof OF the
endurance of Goodrich Silvertown cable
cord tires. with which Grants car was
sC..irpcd.
ftIst ten cars to finish. with the ex-
oeptiUn OF that driven by Porporato,
wore fully equipped with Silvertown
'i,s P~orporato had these tires on the
Tear wheels of his car and said he could
faFo won II his ear had been fully
equipped with Silvertowns. Alley
duplicated his performance at Indian
dpulis by going through the race with
ou' "A tire change, milford also drove
the 500 miles without a tire change and
said they were good for another 500
iabcock was another who drove the SOC
Lail&s without stopping for tire changes.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-07-04
CHALLENGE 10 ENGINEERS.
Speedway New Limits Will Inn
prove the Breed Of Motors.

Tho opening OF speedways so banked
that cars must be driven over them with
the throttle continually wide open will
mean new standards for American au-
tomobile engineers, says Ray Harroun.
chief engineer for the Maxwell company.
When horse racing was in its prime"
he says, 'the big winnings possible slim
ulated the breeding OF the fastest n
sturdiest animals the world has ever
known. The blood OF these race win
ners has been difrused 10 widely as 20
greatly better the grade of horses the
country over.
"ln almost the same degree automo-
bile racing is sure to improve tho breed
OF the everyday cars Of the future. Be
cause the Chicago speedway 10 the
worlds fastest course II will he a big
help in hurrying US to that day when
the perfect motor car can be designed
and manufactured.
Chicago IL the owner OF tho only
course I know in America over which
a car can e driven indefinitely at bet
ter than lo2 miles an hour at a steady
pace and with continually wide open
throttle. Automobile engineers are not
ready for It. But We shall see the time
when such sustained speed will be pos
sible. The challenge Of the only race
track In America that 10 faster than the
cars which compete on II cannot be ig-
nored by American engineers.
Tho Maxwell company will establish
and maintain An engineering laboratory
at the Chicago speedway. Its staf will
20 to work systematically to develop
materials and details OF design we have
never before bean able to test by the
Chicago standard. This laboratory will
have at Its command n chance to abuse
motors to the absolute limit. It's results
are sure to b both spectacular and
practical"
The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-07-04
Buffalo Bill
Is a Motorist
WILLIAM F. CODY, known

NIILLIAM F. CODY, known
w the world over as buffalo
Bill" has deserted the bronco for
the automobile. He recently pur-
chased an Overland touring car,
and is now seldom seen except at
the wheel of his machine.
He draws an interesting COM
parison between the Overland six
and the old overland stage, n
Of the properties of his show,
which was finished in 1865 and
put in service between Dodge
City, Kan, and St. Joe, Mo.
Fifty years ago." he states,
"I acted as a sort Of advance
scout for this stage. My duty vas
to keep a sharp lookout for the
Indians and bad men of that
time. The best speed we ever
made was seven miles an hour,
and our total journey in a days
travel never exceeded sixty miles.
To-day" he continued, II can
hop into my Overland a and
with good roads ahead and the
speed officers out Of sight I'll
cover the distance in an hour.
Times certainly have changed.
but they have changed for better
things"
The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-07-04

10 progressing very favorabiy, and Ions
stretches of the new highway are now
open TO- trafhc. II is expected that re
bituminous macRdam highway Will be com
pleted about the hrst OF August A. me
sections OF this work. one Just west Of
Yarmouth and the other between Freeport
and brunswick.
ton, on the Portland and White Mountain
highwayIlha OF rssurfaclns the main
f fsir start or Hn't tS.s work rk' an nS"i !, IS @xp ns C
viii complete It In about a month.
At Poland and at oxford. on the Pc.
is we'll under way on each job. ,surfacins
having begun. 1t VII take about iSo
Maine Automobile Association TO have de-
tours around this work properly signed.
throp, on the lewiston and Augusta high.
way, Is nearing completion. 1t Ia not nee
esSary 70 make any detours over any part
be finished Immediately. The work in
sirons on the Termination and Ranueley
highway 4, eompletsd and tho Farming
ton Job will be finished room.
The Norridgewock work. on the Nor
ridsewock and Madison highway Will run
on for about another. month, In Man
Snss'sa' on the the sub w srads |. S %.i, A si.risd'
facing is not yet begun, The Job viii prob.
end OF September, The ~castcriy half Of
this. road-that ia, between Manchester
Forks and Augusta--is all that Is torn up
now. and there are two good detours
around this work.
The contractor has IN. ~culverts nsariy
in on the Fairfield road on the Waterviile
and ~Skowhrgan highway, and has started
suh-grsdinG
The only work running between New
port and Bangor Is repairing some OF the
old state aid sections In Etns. These are
being made TO conform TO the new state
highway recently completed there. II Is
probable that construction will start In
Hermon on the Newpor and Bangor high.
way next month. taking out some bad