davidaulloa/AmericanStories huggingface dataset:
The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-12-27
FINANCIAL REVIEW
OF THE PAST WEEK
Facts About Foreign Return
Of Our Securities Argue
for Optimism.
STOCKS OUT OF THE RUT

THIS holiday . which closes one
Of the wonderful years Of history and
an especially wonderful year in our own
economic history. contrasts auspiclousiy
With the corresponding week in 1874.
A year ago the machinery Of finance
and business WA being e~per'menta,,v
started and working jerkHy and clum-
silly. To-day II 10 running smoothly
and operating at . high rate Of speed.
while q year has made a vast difference
sentiment. As 1914 drew to an end men
Of affairs were acting courageoueiy. but
there WIS q note Of desperation In their
termination to try to ret things goinv
than confidence that fhey would go at all.
The state Of established confidence whicf,
now exists Is tho o Illuminating
phaSe Of h whole situation, founded In
q year Of successful achievement, a year
In WHOM our resources Of wealth have
been enormously augmented and In
which a Fair measure Of advantage has
been taken Of opportunities to consoli-
date u International position while
STRENGTHENING ourselves at homo
N otkCSt uOC Uot IdNc " loOk IdI
aheh for a gratifying summary Of the
events which have so contributed to the
return OF confidence that we are no
longer thinking merely In terms Of busi-
ness recovery but in terms Of business
expansion. and are now counting the
chances Of profitable activity for estab.
lished enterprise alone but are engaging
In tho prosecution Of new enterprise
For Wall Street an excellent illustration
OF the economic bearings OF the war or
fortunes In this country IL contained In
the facts coming out about tho return n
our securities from abroad.
An eyrort trade Of about twice the
normal Dimensions, a gold import move
ment which Is running at about three
times the volume Of any previous ship.
ment OF the metal to our shores, an ex.
pansion Of domestic industry and trade
which Is beginning to tax capacity In al
lines are impressively summed up In the
analysis OF u primary securities mar.
ket In relation to the liquidation Of bill.
Ions OF dollars of American investment
which Europe has been and Is OF neces.
sity compelled to carry on. One has onl,
tn compare the current price level OF
bonds, notes n listed shares with tina
which obtained a year ago and ther
consider the estimated aggregates Of Eu.
ropes realizing sales here to understand
what forces have been at work to confe,
on the United States the ~prosperit,
Which II now enjoys a prosperity upol
which the mind can AFFORD to dwell
despite the horror which is deyastatins
Europe because the wealth which W,
are storing up can be made happily I,
serve the needs o; the world when 4,
peace 10 restored.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-12-27

MIDLAND TERMINAL. RAILWAY CON-
PANH.

Sealed proposals Will no received at the
ON ce Of The Farmers Loan and Trust Com
pany. 10. Is, 90 and 20 william street. New
York City. for tho sale 10 the Trustee. Ia
accordance with the provisions Of tho mort
gage dated the lot dav Of Decembcr. 1895,
or a suficlent amount OF bonds TO invest
S%.33S.7i of the Sinking Fund,
Proposals mus, he presented before le
o'clock NJ. on the 30th day Of December,
1918. and should be directed as follows:
proposals 20 shaking Fund. the Midland
Tern.hal Railway Company, The Farm
lam street. New York city"
COMPANY
ny EDWIN =, MARsToN. President.
New York, December iith. 1916.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-12-27
Factor In Vast Export Trade.

That this foreign realizing Is not ad-
verse to a rising level Of quoted values
has been demonstrated along with tho
demonstration that the foreign return
OF our securities IS the principal factor
in maintaining our vast export trade.
Lately. however. there has been sorne
disposition to ask II such a steady COM
petition Of seasoned securities will not
work against the new financing of corr
porate requirements. which are indis-
pensable in any period of business expan-
sion. The outlines OF an answer to this
inquiry are already visible In the new
security promotions OF the last few
months. and the supply Of securities
from Europe will probably have
the desirable result OF keeping new
promotions In bounds. Ar orgy Of fren-
zied gambling In speculative novelties
Will be no more welcome by the substan-
tial body of American finance II a was
the excessive speculation In the war mu-
milton shares this year..
New financial and corporate enter
prise IL a proof of the constructive and
progressive conditions which have de-
velnped. but without brakes Of some
kind to hold the movement under on
troll there would be grave danger Of a
runaway response to such impulses az
have often prevailed In our eras Of for
ward enterprise when there has been q
wild Indulgence In an exube~ant capital
| ization OF speculative possibilities. Ger
| tain features Of the situation to-day are
conducive to a repetition OF such per-
formances. but buyers should beware OF
promotions which obviously capitalize
war prices, war volumes and war prof.
it's. Sound promotions will contemplate
the employment OF abnormal earnings
for a provision Of ample working capita
with which our corporate orga nizat'or
has oh the whole been ~inadequatei,
equipped. II such use IL made of tn,
financial opportunities which the wa
offers there will he a prospect Of pros
perity which win survive the war.
1t Is not surprising that tho stool
The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-12-27
THE CURB MARKET.

transactions In detail In the curb
market last week were as follows:
INDUsTRIALs.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-12-27
raAMACT1oxs ron The WEEK.


The following table gives, in edition TO the sales for the past week and
range of stocks o. the New York Stock Exchange, their dividend Yields CAL
culated o the closing sale " bid prices Q n Friday night:
The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-12-27

Tho Loree figures, the second complla-
ton of which has just been published,
do not tell the complete stoyy of the
Foreign liquidation of American invest
Wenta which we have SO readily alb.
sorbed. They show that in the four
months following July 81 some $780,
ooO,"ov OF railroad securities came back
10 us from abroad. Well Informed
euesses of the colncident return of In
dustrial and other securities Indicate
that we have been Cancelling our for
eign Indebtedness on capital account
at the rate of aoout $1,000, O00, 900 a
year. Probably our real position il even
better than this calculation implies. We
have been taking our securities back
from Europe ever since the fall OF
1912. for selling OIL balance started with
the first Balkan war.
In the approach to the outbreak OF the
general European conflict and ever since
the liquidation OF Europe's holdings Of
our securities has been so persistent that
I is a question now II there IL held
,broad Il much greater aggregate of
salable titles to American property or
evidences OF debt than we have already
'epurchased or redeemed. The c~onjec-
tural figures indeed suggest that, aking
into account the capital and credit which
We have furnished to foreign borrowers
In the past yea and allowing for the
further grant VI accommodation and the
! further absorption OF our own securi-
ties. we will by the end Of another year
have changed our status permanently
from that of "A debtor to that of a cred
itor nation. That VIC are in good shape
TO do both Of these things. make more
loans abroad and buy back more of
our stocks and bonds IL Enthusiastically
evinced by the foreign exchanges. The
principal forms OF exchange are still
heavily in our favor. Sterling has re-
covered SO per cent. OF It's extreme de-
cline from normal parity. but Its 70.
covery Of u degree OF stability Is of far
more Importance, for with sterling on a
stable basis we will be better able to
conduct ali our international operations
OF nance and commerce.
So far as the war IL concerned, tn
reserves of ultimate economic power
which will probably decide the outcome
of a wal that has become a war of ell
durarcc. are being mustered for tn,
final stages of tho struggle. American
funds will have an Unexpected chanc,
to obtain Judgment in seasoned securl.
ties Of the highest grade. for as thu
European liquidation goes on II vii
bring TO us securities from the bottom
of tho European strongtoxcs.
South Bend news-times. (South Bend, Ind.) 1913-1938, 1915-10-15
DIRECTORS WILL
PLEAD INNOCENCE
New Haven Men on Trial Will
Seek to Hold Interstate
Commission to Blame.

NEW YORK, oct. 15.-with the
jury tentatively filed by 2 talesmen
who could not be dislodged for cause.
both the defense and the government
in the conspiracy trial OF William
Rockefeller and the other millionaire
directors OF the New Haven railway
today had 10 peremptoTy challenges
apiece and the chances were cOnsid-
cradle more time would be used up IN
obtaining a jury satisfactory TO both
sides and to the court.
The jury box was filled late yester-
day with men who successfully ans
wered all questions. but two were sent
away peremptOrily The defense and
the government each has one peremp-
tory challenge for each Of the II de-
PENDANTS. Each side exercised one
peremptory challenge yesterday after
noon.
AS indicated by the questions put
to talesmen by Delaney Nicoll of
counsel for the defense. the principal
defense Of Rockefeller and the other
directors will be that, because the OPP
ration and the rates OF the New
Haven were regulated by the Inter
state commerce commission in the
period covered by the Indictment. the
directors therefore are not respon-
sible.
J. NJ. Hemingway. A. Heaton Rob-
ertson, +. F. Brewster. Charles NJ.
South Bend news-times. (South Bend, Ind.) 1913-1938, 1915-10-15
WILSON To SPEND
SUMMER IN n. !.
Accepts Invitation to Make
Long Branch Residence
His Home.

WASHINGTON, Oct 15.-Pres'
Wilson today accepted the invitation
Of a committee of prominent New
Jersey democrats to spend his vaca-
ton next summer in that state. 1t
was formally announced that the
mansion formerly owned by the late
John A. Mccall, near Long Branch,
N. J., would be the summer white
house in 1915
Rep. Scully headed the visiting del
egation and delivered the invitation
speech. He declared that the people
Of New Jersey having given the ma
ton the greatest president ii ever had,
wants him back with them a while. "
In replying the president said he
would gladly accept the invitation but
insisted that he be allowed TO pay for
renting the home. He said he could
not feel right otherwise. The dele
cation had stated that the people OF
New Jersey would pay for his resi-
dence there.
The president laughingly told the
delegation that they could assure Gov.
Fielder that he wouldn't go near the
camp. He was referring 10 the ma
tional guard camp at Sea Girt. The
members Of the delegation smiled and
the joke was later explained.
Three years ago the president was
at the national guard camp and while
wearing a frock coat and a silk hat
reviewed the troops on horseback. To-
day he said that he did not object 10
riding but that ne did object 10 doing
so while wearing such an attire as
three years ago.
In refusing to allow the delegates
TO pay the rent Of his home the pres
ident suggested that if so desired ne
thought the money raised for that
purpose could be turned over 10 some
charity. This met with the approval
Of the committee.
South Bend news-times. (South Bend, Ind.) 1913-1938, 1915-10-15
Forts Defending Railway Lines
Southeast of Belgrade Are
Being SheIIed by the Aus
TRAN Big Guns.
GENEVA REPORT SAYS
TEUT0NS ARE DEFEATED
Italy Cannot Send Troops to
Balkans at Present, Says Of
fetal Organ of Foreign
Minister SOnninO.

VIENNA (via Berlin and Amster-
damn, oct. 15.-Serbian troops which
made a stand before the Austro-Ger-
man advance southeast Of Belgrade.
have been defeated in battle and are
retreating eastward into the Avala
mountains. IL is officially reported by
the Austrian war office Serb forts de-
Tending the railway lines southeast OF
Belgrade are being shelled by the big
guns of the invaders. Special MEN
ton of the effective work OF the Aus
tro-German heavy artillery is made in
the official announcement.
The following is the text OF the re-
port
we have advanced from Belgrade
TO the line of fortreSses southeast or
the city which stretches through
Erino. BOrde, Cunak and Itawara-
THE enemy fled into the Avals
mountains before our advance, having
suffered heavy losses.
Heavy artillery aided our success
es. Our allies on the lower Morava
are making progress. They have cap
tUred the forts defending Pozharevatz
on the western and northern and east
ern sides"
South Bend news-times. (South Bend, Ind.) 1913-1938, 1915-10-15
Wins Battle Against Anthrax.
Dies Because of Weak Heart

NEW YORK, Oct. 15.-George F.
Stackpole. the aged lawyer who has
been suffering from anthrax at Belle
vue hospital. died early today after
waging a long fight against death His
heart had been weakened by his ILL
ness and he passed away a few hours
after the attending physicians had an
nounced that the serum treatment
used in his case had conquered the
dread anthrax.
Mr.. Stackpole was conscious almost
until the end and met death with the
same unperturbed courage and faith
which he showed when physicians told
him before the serum was used that
he probably could not live
lie began TO sink late last night
owing 20 his age and the strain Of his
illness. though a blood test had show
ed remarkable decrease in the an
;hrax hacilt According 10 the physs-
clans his case demonstrated the effect
that the serum rushed 70 New York
from the government laboratory at
Washington can be used successfully
in combating the disease in human
beings.
Mrs. Stackpole left the patients
room I'VE minutes before he died and
awaited the end in an ante room with
a son and daughter
South Bend news-times. (South Bend, Ind.) 1913-1938, 1915-10-15
Proclamation Announcing In
tention to Deal With Car
rama Will be Issued by
United States.
WILL SEND AMBASSADOR
TO MEXICAN CAPITAL
Carranza is on Way to Mexico
City-FearS Capture by
ZapataS and Makes a
CirCuitOgS Trip.

WASHINGTON. oct 10 Sec'y
Lansing ard Counsellor Polk Of the
state department today were complet-
ing the program for the recognition Of
the Carranza government i'm Mexico.
These are the steps that Will be taken
in bringing Mexico back into the
brotherhood of nations:
THE issuance OF a proclamation
10 the governments of the world with
which the United States has diplo-
matte relations. announcing it's inten-
ton TO deal with Carranza as the de-
factor head Of Mexican affairs.
"A formal notification to Carranza
that the United States Is ready TO send
an ambassador to the Mexican capital,
followed by the usual inquiries
whether the proposed envoy is per-
soma non grata in Mexico.
3-The selection OF an ambassador
from a list Of those known TO be ac-
Ceptable TO Carranza. In this connec-
ton these names have been promi-
nently brought forward: Joseph W.
Folk. former state department SO
licitor and at present counsellor Of
the interstate commerce commission;
former Gov. Martin II. Glynn of New
York. who is not a candidate. but in
whose behalf strong endorsements
have been received at the white house:
Paul Fuller, who has studied the Mex
lean situation as one OF Pres't Wilson's
representatives in the southern repub-
lie, and. John r. S!lliman. long in the
consular service in Mexico, and at
present the state departments rep
resenta*ive with Carranza.
VIII Accept Minister.
THE accrediung by Carranza of
an am bassadOr to represent the de
factO government I'm Washington. II
is known in this connection that Car
rama has decided 10 retain Elseo Ar
redondo here In this capacity. Are
dondo as confidential agent for Car
rama. has conducted the prelimin-
aries which eliminated in the decision
Of Sec'y Lansing 10 recognize the
cause which ArredondO represented.
The real purpose of Carranza's
Journey 10 Tampico became known to-
dav. His real destination is MEXICO
City and he is making the circuitous
trip 10y way of TampicO TO escape pos
sible capture by Zapatista bands
which are numerous along the rail-
roads between Vera Cruz and Mexico
city.
Arnold W. Shanklin. United States
consul general in Mexico City for sew
cral years, today resigned from the
diplomatic service To become general
counsel in Mexico City OF the Waters
Pierce oil CO.
Mr. Shankliu was called out of Mex
Eco last July because Of friction with
tine Brazilian minister. Mr. Cardosa,
who had the affairs OF the state de-
partment i'm the Mexican capital He
was i'm Mexico during the Nadero rev.
olution and the trouble with Huerta
and remained at his post during the
trying times that ensued. He was ap-
appointed 20 the service as consul
general to Panama by Pres't Roosevelt
in 1905
South Bend news-times. (South Bend, Ind.) 1913-1938, 1915-10-15
SEE DELCASSE AS
NATIONAL WARNER
Berlin Press Says He Wished
to be Remembered as Man
Who Saw Danger.

PERIIN. oct. 15.-(By wireless.)
Retirement OF Theophile Delcasse
as foreign minister for France caused
extended comment in the press OF Ber-
lin. which has always regarded the
French stateman as Germany's arch
foe.
The Tageblatt retraces the develop
ments of the last Few weeks while Del
Casse opposed the landing OF French
troops at Sanlonika and says that Del
Casse seized this preteNt feeling pop
ular opinion turning against him, TO
disappear from the political theater
in the attitude OF "A national warner
and a man who foresaw the calam-
tiles. while in reality he. together wish
prest Poiucaire and Minister Of War
Milleraud actually caused the present
situation.
The NoSsischc Zeituug says:
"Delcasse's while career was based
upon the 'Tevanche' idea. He en-
tered parliament I'm 1899 with "a speech
for a Franco Russian alliance. He
always represented the idea OF war
against Germany He was inspired
by King Edward one OF the most &C
tive workers for Germany's isolation.
I'm 1895 II. Clemenceau thought
that Delcasse had disappeared never
% return. but reappeared in 1905 and
1909 II he is now abandoned for
ever by his former assistants. this de-
cision is too late for France"
South Bend news-times. (South Bend, Ind.) 1913-1938, 1915-10-15
IS ENDED
SAYS BERNSTORFF
Submarine Issue Between
United States and Germany
Completely Closed.

NEW YORK Oct 15.-COuut Jo-
sadOr 10 the United States. announced
today that the submarine issue be-
tween the Washington and Berlin gov
ernments had been completely closed
up and that no further notes would
be exchanged.
The exchange OF notes BY the
United States and Germany on the
submarine affair is at an end" said the
ambassador. Everything has been
arranged satisfactorily 10 both coun-
tries and nothing but the most friend
Is relations now exist between Ger
man and American officials. I am very
happy over the present state OF affairs
and I am very positive IL viii continue
for all time. I hope"
How about the answer on the Lu-
sitania note" he was reminded.
THE exchange OF notes on the sub
marine question as 7 said before. has
been completed" the am bassadOr re-
iterated
Now nothing remains but a conn
Dental conference between Sec'y Ian
sing and myself ne continued. IT
shall leave for Washington the middle
or latter part Of next week and shall
arrange 90 see Mr. Lansing as soon as
I arrive there
There is nothing 20 be done but
make formal arrangement for the
payment II indemnities 20 the United
states. Germany has made disavowai.
the apology. and the offer OF indern-
nifty. Everything viii be settled salts
factoTily."
South Bend news-times. (South Bend, Ind.) 1913-1938, 1915-10-15
SETTLES PHONE DISPUTE
South Bend Co. Must Pay Rochester
Co. S1,75O.
Special to The News-Times.

INDIANAPOLIS, Oct. 15.-Commis-
sioner Charles a. Edwards Of the pub
lie service commission, acting as an
umpire in the long standing dispute
between the South Bend Home Tele-
phone Co. and the Home Telephone
Co. of Rochester, over the ownership
of toll lines from Argos. through Full
ton county, to the north boundary Of
Cass county. today decided that the
Rochester company owned the toll
lines. He also decided that the South
Bend company should pay the Roch-
ester company $1,750 because of va
rious messages and profit from press
association contracts that had been
kept by the South Bend company.
South Bend news-times. (South Bend, Ind.) 1913-1938, 1915-10-15
NEEDS ALL TROOPS.

ROME, oct. 15.-Italy cannot un-
dertake to send troops TO the Balkans
at present, but will contribute in
other ways TO the success Of the allies
cause.
The Gionarle Italian official organ
Of Foreign Minister Sonnino, makes
this statement in discussing the Nsitu-
alton that has developed through Bull
garia's Intervention in the war
The announcement indicates that
there has been a change in the senti-
ment of the government during the
last few days. 1t was expected that
following Premier Salnndra's visit 10
King Victor Emmanuel at army head
quarters announcement would be
made OF the sending Of an important
expeditiOnary force through Albania.
1t is possible that the determined
offensive of the Austrian forces on the
Italian front caused the sudden shift
in plans
Coincident with the Teuton- Bulgar
attack upon Serbia. the Austro-Hun-
gaTian troops are assaiHng the Italians
CONTINUED OK PAGE FOUR
South Bend news-times. (South Bend, Ind.) 1913-1938, 1915-10-15
HOME is WANTED BY
KNIGHTS OF COLUMBUS
Question OF Home For Members TO
Come Up saturday
Night.

Definite action on the proposition Of
buying or renting a home or club
house will be taken up at a meeting
OF the Knights OF Columbus in the
American hall Saturday night 1t is
probable that il will be definitely de-
cided whether the home shall be pur-
chased or rented.
The proposition Of establishing a
permanent home for the South Bend
council has been up before, but this
meeting will be the first where the
question has come up for a definite
decision. a report OF a standing
house committee appointed some time
ago will give a report at this meet
ing. Members OF that committee are:
Jacob Lechner. John G. Hiss William
McInerny. George O'Brien. John A.
Kaufer, Thomas Hickey and James
Butler.
Reports of this committee will in
clude both buying and renting propO-
sitions and will tell about buildings
and plans that have been considered.
A number OF buildings and houses
which could be either rented or
bought are being considered =
South Bend news-times. (South Bend, Ind.) 1913-1938, 1915-10-15
ADMINISTRATORS FILES SUIT
Alleges $500 Was Converted to Own
Use by Predecessor.

Action was brought by the state OF
Indiana on the relation of Luke j.
Gramza, administrator "debanus nom
Of the estate Of George Kasurslxi.
against Donald r. Dubail administra-
tor OF the estate of Edward Dubail
and the American Bonding Co. in SUI
perior court Friday.
The complaint charges that Kasur-
ski died June 80. 1913 and that Ed
ward Dubail on the following July Z
was appointed administrator. He died
in 1915. and April 4 Luke J. Gramza
was appointed by the circuit court to
take charge Of the affairs OF the
estate. The complaint further charges
that Dubail. while administrator of
the Kasurskl estate, converted $500
belonging to the state for his own
usages.
South Bend news-times. (South Bend, Ind.) 1913-1938, 1915-10-15
GERMAN DESTROYER IS
SUNK BY BRITISH SUB

COPENHAGEN, oct. 15.-In brief
but sharp engagement between a Brit
submarine and a German warship the
latter was sunk in the Baltic on
Thursday
The German ship. a torpedo boat
destroyer was torpedoed and blown
up.
Before the submarine could launch
torpedo she was violently shelled by
the German ship. but according 10 re-
ports reaching here was not damaged.
Finally. when AN opportunity pre-
scented itself the submarine fired a
torpedo which hit the German war
ship amidships.
Instantly there was a terrific ex-
plosion and the torpedo boat destroyer
began 10 settle. soon she had disap-
peared leaving only a mass OF wreck
age on the surface and "a number OF
seamen struggling in the water.