davidaulloa/AmericanStories huggingface dataset:
The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-12-16
LOOKS 10 BANKS no AID TRADE.
W, N. Dickinson Discusses Foreign
Business and Credit.

W. N. Dickinson of the General Flo
vator Company delivered a speech last
night before the American Institute OF
Banking on the subject of South Amer
lean Trade from a Commercial View
point" He said II was his belief that
the action Of the bankers during the
next few months. and particularly dur
ing the readjustment following the ces-
sation OF hostilities In Europe, is going
to have quite as much effect on the
foreign trade Of tho United states as
the activities Of the manufacturers
themselves.
He pointed out that n the banking In
terests OF the country could conveniently
find some way to assume the credit re.
s~ponsibility for commercial transaction
abroad they could Immediately stimu-
late an interest among many manu-
%facturers who would MOI otherwise enter
The field. He called attention TO the
fact that commission houses had been
doing his for years while acting In n
banking capacity. and that J. r. MORGAN
n Co. were already doing this on q
large scale, though their clients arc
Governments rather h individuals,
and that the National City Bank Is
handling the matter In q different way
by the formation Of q separate COM
pany. Confidence. ne said. IL the Key.
| note of a successful foreign business. mn
the RECONCILIATION Of ~onfidenco IN al
countries Is the bank. -
Mr.. Dickinson has been engaged III
South American rade for eight years
or more and IL closely In touch with inc
! business and commercial feelings and
| conditions there.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-12-16
FINANCIAL NOTES.

Manning, Maxwell & Moore have declared
the regular quarterly dividend OF ia per
cent. and an extra ia per cent, payable
December 81.
The Brooklyn Trust Com psny has do
clared The regular quarterly dividend Of .
per cent. aud an extra dividend OF 10 per
cent, both payable January 3 to stock Of
record December II,
The New York curb Mar&e. Association
has listed $50, 900 capita shares OF Metro
polltau Petroleum CurpOratluH OF par value
s2I, also 100. 600 capital shares or the
Dominion Gold Mining Company az q
prospect. par value 81; also go. 900 common
and 40. 900 preferred shares OF the General
Hallway Signal Company o. par va'ue 500.
The New York-Oklahona on Company
has declared the regular quarterly dividend
OF a.. per cent. on the preferred stock,
payable January I 20 stock Of record De-
cember u; also -, per cent. 10 cover ac-
cumulatod DIVIDENDS on the preferred stock
as follows: Ia per cent due April /. 1918,
~ per cent. July !, 1915, and Ia per cent,
October !, 1913,
The Standard screw Company directors
have declared tho regular semi-annual
dividend of 3 per cent. aud an extra divi'
dend Of 3 per cent, ON the common stock
Ths regular semi annual dividends OF Z
per cent. on the preferred a and Ss pei
cent. On the preferred II stocks were also
declared. All The dividends are payable
January I OF stock VI record at tho clos,
OF luHlness Decueper 10.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-12-16
BRITISH ARE PUZZLED
BY new FINANCE PLAN
McKenna's Explanation As to
Sale Of Z. 8. Securities
Called Ambiguous.

LONDON, Dec. 1.-THE plan OF ReRi-
maid NcKenna, Chancellor OF the Ex-
cheauer. for the mobilization OF Ameri-
can securities IL occupying q great deal
OF attention On the part Of the London
newspapers.
Thu general comment Is that the Cham
~cei'or's explanation ss TO row the Amer
ican securities are to be sold Is amb'gu.
Gus. There will be no change from the
methods of the past. II Is believed.
Brokers are anxious to know II the Gov
eminent will pay commissions. and a
petition to the committee OF the Stock
Exchange IL being largely signed by
those who urge this. II Is argued that
without commissions there will be no
incentive for brokers to push h sales.
II Is also q matter Of speculation who
will handle the plan. but the Bank OF
England 10 generally supposed to be the
choice.
II IL strongly urged that the Treasury
| should conduct It's operations In the
open market. lest the free exchange OF
the securities be ENDANGERED. Moreover
Il Is commended. II Is questionable how
any prices for securities q be hxed
properly unless through the Stock Elk
change. Financial London hopes that
the holders will sell outright. for thu
plan of holding them as collateral foi
American loans IL considered unsound.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-12-16

Srotess q Knauth, Nachod 4 Kuiine "a,
duty AZ the Of Is per cent. sd vv..orao,
on. rresnei lenses In nickelled franes 'or
ships' lanterns. This merchandise va,
described on the invoice as panels 20,
buoy lamps composed Of metal aud ala,
the latter the component material OF a,i.,
value. Duty was assessed At the rate o.
40 Der cent. ad valorem under paragrSoh
a d enc tariff aot of 1918 as q manu- ~.
ture Of glass not specially provided to..
The importers claimed classification under
paragraph % az "lenses OF glass .
moulded or pressed. or ground and pollshs,
10 q spherical. cylindrical or prsnasse
form, wholly or partly manu.sn,
tured, O." The board baaes IL ana
ings In the present case on q ruling undo
the act Of 1897. In which low duty vas
allowed N Fresnel lenses.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-12-16
PRAIRIE OIL VOTES DIVIDEND.
Resumes Payment by Dfsburse-
menl NJ IA a NharN.

The Prairie Oil and Gas Company re-
sumed dividends yesterday by the decla-
ration OF a cash dividend Of 80 n share
The las, previous disbursement was
made on February 9s. 1913. and was
& per cent. Later dividends we're
omitted In order 10 permit tine surplus
70 he used to construct new pipe lines
and acquire additional properties.
The Prairie oil aud Gas Company has
been notable for It's big dividend pay
ments, which from the time OF its di-
vorce from the Standard on Company
up to the cessation Of dividend payments
were made as follows:
IN 1911. 90 per cent. ; March 30. 1912.
: per cent June 30. 1912. 6 per cent. :
and the latter amount AZ quarterly in
tervals UP TO and Including February.
1913. on April 81. 1915. $50 per cent
was declared In the form or stock OF
the Illinois Pipe Line Company.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-12-16
TO SELL RIDDER CONCERN.
International TypesettinE Go.
Assets 20 Go at Auction.

The assets OF the International Type
setting Machine Company. Of which the
late Herman Ridder was president. will
he sold at auction on the steps Of the
County Court Hous In Brooklyn on jan
uary II, 1916. Judge Charles VI, Hough
ordered the sale yesterday to satisfy a
$1,000. 900 mortgage held by the Guar
anty Trust Company. securing the type
setting company's bonds.
Judge Housh's order puts the finishing
touch to the disintegration Of the Ridder
company, which was just beginning 10
make money when the European wal
broke out The asset, consist OF shares
OF stock. patents on lntertype setting ma
chimes. franchises. accounts receivable
and machinery and tools.
Judge Hough nxes an upset price oil
$500, 600 for the assets and stipulates thai
each bidder must put up "A $4,000 de-
posit or 500, 900 In tho company's first
mortgage bonds.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-12-16
STEEL MERGER ON CASH BASIS.
Lackawsnna Reported ca Have
Beeu O6ered $50 . share.

7, Il probable that the merger o, the
Cambria Steel Company, the YOUNGSTOWN
sheet and Tube Company and the Lack
awanna Steel Company will be efecteo
on a cash basis. The Lackawanna steer
IL understood TO have been
offered $50 a share for It's stock. but has
not reached a decision whether to accept
that hgure.
The holders Of Youngstown Sheet ana
Tube will receive $50 and $500 a share
for their stock, II IL said. and the cam
bria will De the dominating hSure IN inc
new company. James a. Campbell, pres
ident of the Youngstown company If
said 20 have been picked To head the ne"
organization II The merger Is effected
The stockholders In the present com
M MES will be given an opportunity K
subscribe for the stock OF the new cor
pora,ion. The merger OF the Cambr!t
and YOUNGSTOWN companies Is under
stood 10 be assured, but there Is SOM
doubt about the Iacka n and certa'l
OF the shipbuilding companies "h'ci
have been mentioned In connection viii
the negotiations.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-12-16
THE @ MARKET.
Market fer Raw Prodsct scw,.
what Unsettled.

The market for raw sugar was somewhat
unsettled: q least. early In tie Ia, tt~s
was q sale Of $3.50 bags Of Cuba, o., o,
store ct 500 for centrifugal VI test. dai,
paid. whio, vas slightly higher ,tsl IL.
price q, which the last Gales ~cr. ma.
This Transaction was believed 10 Is Il a
spec ally urgent character. howeyr-. and ne
In the day q lover lsyel was ea:aoLsa.i b,
sales of GOO to 6,1D bags OF prompt Cubas
a, sSr, cost and freight. eJual to l.Tc. ser
centrifugal SC test, duty pad.
REPORTS from Cuba indicated aT.v. cpe.A
tons ri the mills. and offers Of new ca.
sugars are expeded 20 increase steadily. a
though IL Is feared that the movement nav
i've rome what cur allied by . shortage OF oNan
tonnage. The price Of rehi,ed sugar renraet
nrs,h anred u 6i6c, for fine kfanulate1.
A very steady undertone prevailed In TIE
marke, for sugar futures. And pri~s a, The
ciose were ! TO s points net higher ssn
for the day were $40 tons. The technical
position was believed to hsve been strength.
ened By the recent operstions. and II va TIE
general imprees1on thss Cuban Interests were
d disposed ~ support pric-s Prices follow
The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-12-16
PLAN $4,000, 900 RUBBER co.
Ppichitt a Co. Buy All Oststand'
ing Aial stock.

Pr,chitt & Co.. so broadway. mem
bers OF tho New York Stock Exchange,
nave bought the entire outstanding stock
OF the new Ajax Rubber Company, Inc.
a corporation formed TO a X over the
business OF the Ajax-Grieb Rubber Com
ANY. The new company will be capital
ICED at $4,000 all common stock,
par value. $50. OF this $4,000, 600 will
be issued. There viii be no funded
debt.
The stock Of the new corporation has
been offered privately by Prich'tt *
Co. at S5 and was largely oversub-
scribed. II Will be dealt IN forthwith
on the curb. Later ARRANGEMENTS
will be made for listlus on the
exchange. Net earnings OF the old
company during the last four years
ended August IL. last averaged more
than S450.000 per arnum, equivalent TO
over IA per cent. OF q a value oil
81 5000, coo, or I per cent. on the stock
lssr>d
The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-12-16
Big SAVINGS BANKS
PAYING 4PER CENT.
Interest Dividends Being De-
clarcd at Usual Rates for
Last Half Of Year.
DEPOSITS SHOW GAINS

Many Of the important eavinss banks
in Greater New York will declare In
tcrest at the rate Of 4 per e yearly
on deposits for the last six months end
ing December 81. 1915. Others Will de-
clare ~ per cent
At a recent meeting Of the trustees 81
the New York Savings Bank a dividend
was declared at the usual rate OF = per
cent. per mum for the six months end-
ing with the last day Of the year.
The trustees Of the Dmisrant Indus
tria, Savings Bank have declared . diu
dend on a similar basis and II 10 eH-
pected that the Seamen's Bank for Saw
ings, the German Savings bank no
williamsburg Savings Bank. the brook-
iyn Savings Bank and the metropolitan
Savings Bank will mako announcements
Of the same kin soon.
Some of the banks have declared 4 per
cent. interest on deposits for the last six
months In the year which are not greater
than a stipulated sum. The 0reenwioh
| Savings Bank declared interest at
the rate Of I per cent. on deposits
amounting to less than 1000 On de-
| pur,ts O; moro than 1000 the regular
81 per cent rate will be paid. Inc
Rowery Ss y,nes Bank will announce its
regular 3ls per cent. interest rate and
the Maiden Lane Savings Bank has do
clared q regular per annum Z per cent
rate ON deposits OF mora than $40 and
less han $4,000.
A majority Of the savings banks 70
port an Increase In deposits and ths
bankers say that this feature indicates
n revival In many business lines. They
say further that the Improvement ha'
been a steady one and that 1t viii con
tinus.
John J. Pulleyn, comptroller Of TIT
Emigrant Industrial Savings Bank. ma
reported that the deposits there nav
crown approximately S6.o0o.V0O In TIT
last six months.
Many of the savings banks In New
York and vicinity lave large amount
~ mortgage none on hand and II !
expected that the interest Sate on thi
money will continue at 8 per cent. som
transactions, however. have been enecte'
when as low a rate as Az per cens. ia
been arranged.
Jonathan Il. Currey. president or IN
Metropolitan Savings Bank. said:
..Our trustees will probably vote TO De
!, clare the usual rate of 4 PEI cent. Ther
has been a good denand for mortgage
a, lair rates and money for this purpoS
/ IN pleAtiful. There seems 10 Dc n oet'e
feeling all around. which strengthens IN
: view that 'the coming year Will De
prosperous one
= declared a dividend OF q per cent pay
) able January /. 1915.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-12-16
WILLIAM C. POTION RESIGNS.
Quits Bankers Trust 10 Ne 'T"cker'
Anthony 4 Co. Partner.

Announcement has been made of the
resignation of william &. Po'l'on from
the vice-pres'dency of the Bankers Trust
Company. Mr.. Poillon will become n
general partner In the banking firm OF
Tucker, Anthony & Co.
Mr.. Poillon began his business career
Ia 1889 az an employee of tho Mercan-
tile Trust Company and after hll'ns
various positions wac elected president
,sof that company In January, 1911. Al
tine time OF the mereer OF tho Mercantile
Trust with the bankers Trust Company
In August. 1911. Mr.. Poillon was elected
a vice-president of the latter company,
which ofiice he has held to the present
TINA
The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-12-16
US. FAST CLOSING
NEW HAVEN CASE
The Governments Evidence
Against II Former Directors
May Be In by Tonight.
HEMINGWAY on STAND

According to present plans. the Cow
ernnents case agains, the eleven formet
directors Of the New Haven will close
to-night or tomorrow morning. Only
minor witnesses remain to testify to de-
tails OF the general story told by Charles
8 Me,len or set forth In documentary
evidence.
The day In court yesterday was de-
voted to gathering loose ends and am.
plifyine evidence for the record. CHIEF
OF the witnesses was Samuel Heming.
way, president Of the Second National
Bank Of New Haven. who was treasurer
Of the Billiard Company. Mr.. Hemlng-
ways memory was not OF the hest When
compa red with the microscopic recollec-
tons OF Mr.. Mellen. but the Government
seemed satisfied that II had established
q close connection with Edward d. Rob-
bins and Vice-President Kochersperser
OF the New Haven before the afternoon
ended.
The questioning concerned a series or
banking transactions on March 4. 3
and 6, 1910 in which Mr.. Hemingway
and Mr.. Billiard used 50 600 600 OF the
gold notes Of the New England Invest
ment and Securities Company to obtain
Sl.7O0.O00 loan from the Farmers
Loan and Trust Company. which sum
shifted backward and forward around
the National Cl:y Bank and tho National
Bank OF Commerce into several hands
The names OF Warren y Chase. f.. T
Canfeld and several other young men
came out. but the examination was not
finished.
The examination Of ex-vice-President
Fitzhugh OF the Grand Trunk was ended
quickly In the morning and he was sue
ceeded by Thomas y. McGovern OF Rio
,Jane,ro, Brazil. Mr.. McGovern was a
shin broker In New York In 1909 and
1910. and he was brought 1890 miles
by the Government to throw more light
on the Metropolitan steamship matters,
Witch resulted In the Yale n the
Harvard going 20 the Pacific coast.
II had been developed by the defence
that after January. 1910. the New
Haven had nothing 20 do with the tive
vessels. Mr.. McGovern was the broker
WIN acted for Capt Goodall OF tbs
Pacific Navigation Company, lessee OF
th. craft, He aid he had numerous
interviews with Charles = Melien and
Edward u Robbins ono at which Lewis
Cass Ledyari was present. Interviews
continued long after January l. tn,
witness swnre. however that Mr.. Rob
bins told him that the New Haven would
have nothing to 10 with the two ships
Mr. GOV was on the stand abou'
three hours. and II was figured that !
cos, the Government about 80 cents 2
second while on the stand n he receive:
only the minimum fees and mileage
r. J. Faulks. u LAWYER who appeared
IN the suit OF Jennie Morse against th'
N%.tropolitan Steamship Company o
New Jersey TO bring the Yale and tn
: Harvard back. wal. on the stand a fev
minutes, and was succeeded ny MI
!. Hemingway.
: The trial goes on this morning.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-12-16
MERCANTILE MARINE LISTING.
Application Made to Place Deposit
Certificates on Curb.

A statement Issued yesterday by Joan
". Plstten. chairman of the common
stock holders committee of the Interna-
tional Mercantile Marine Company says
In part:
'This committee WAS formed solely for
the protection Of the interests OF the
common stock holders, n n impress
sion prevailing 20 the contrary - erro-
neous. The committee sees no occasion
to add 70 what has already appeared In
the public prints concerning the Inter
national Mercantile Marine Company
When, however. I has completed its ex-
animation OF the affairs OF tho Marine
> ompany and it's subsidiaries 1t VIII not
hesitate 70 take such action In the inter
ests OF tine common stick holders as the
circumstances warrant"
ApplIcation has been made 20 list the
certificates OF deposit Issued by the
United states Mortgage and Trust Com
panv as depository for the Internationa
Mercantile Marine common stock holders
committee on the curb. pending the list
ing of the certificates on the Stock Ex'
change.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-12-16
BOND DEPOSITS ASKED.
kansas-COlOradO Pacific Conn
nittee sets Time Limit.

The protective committee represent
ing holders OF Kunsas-Co,orado Pacific
Railway Company first r~efunding s per
cent. bonds and over 80 per cent OF the
outstanding bonds In the hands OF the
public. requests hat holders who have
not deposited their bonds with the Frank
lin Trust Company do so Immediately.
The committee has set December 20
as the final date for depositing bonds. af-
ter which date no bonds will be accepted
except at the discretion Of the commit
tee and on sucn terms and conditions as
II ma Impose. Copies OF the protective
agreement and circular addressed to the
bondholders may he obtained from the
Franklin Trust Company.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-12-16
SIS WEEK ON SHORT WEIGHT.
Butcher win Ingenious Machine
Sentenced to Three Months.

Felix Ermann, q butcher with . shop
AT 221G Eighth avenue. WAS sentenced
to three months In the penitentiary yes
terday on hts plea OF guilty 70 giving
short weight after Justice Russell of
Special Sessions had inspected In our
the weighing contrivance by which Err
mann was said TO have been cheating
his customers. most OF them poor, out
OF SIS a week.
Commissioner Of Weights and Meas
urcs H~artigan and Chief Inspector Lu.z
detected that on every purchase OF over
rye pounds were added ten ounces TO
the figures on the registering dial of
k,rmann's scale by a weight hung 10
the check bar At the end OF a wire.
Whenever the instrument was mo- In
use or WAS being tested the machine was
relieved OF the weight By a small
wooden box placed out OF sight. Err.
mann would press a ever with MS foot
which caused tho box TO drop ard re-
lease n piece OF metal.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-12-16
CROPSEY AFTER CITY FRAUD.
omptrOl1er Olives Him FACTS
About TAG swindIe.

Comptroller Prendergast has laid be-
fore District Attorney Cropsey OF BROOK
Ign information given to him by Elmer
5. Levine. a clerk In the Brooklyn OIL
lice of tho bureau for the collection OF
assessments and arrears at s6o0 q year
who was dismissed yesterday by the
Comptroller after a change In tho fig
ures showing charges against a piece
OF property a been discovered on his
books. Tho change made tho charge
s332.6 o instead OF Si,332.So.
The change was discovered when a
lawyer representing the property sp'
peared before the bureau TO a tbs
charges. The next day. the lawyer said
he had been approached by "A man who
offered to get tho charges against thu
property reduced. The names OF ths
man who approached tho lawyer ant
another man he introduced have also
been turned over to Mr.. Cropsey.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-12-16
COnsONda ted ExchnnHc.

Mexican petrolrum's jump in price was
a feature ~ the afternoon trading on the
Consolidated Stock exchange. This stock
had opened al. sti.. = OF a point above It's
reacted to yj% Then II strengthened and
late In tho day sold as high As 1904. clos
ing at ssH. Its turnover OF 1850 shares
substantially exceeded the total for United
states Steel common. usually the leader as
to volume,
California Petroleum opensd at ?st ana
had early sold at s7ts, but Il closed at
81 q, its highest.
Tho market was broad IN respect 10 The
variety of securities represented In the
transactions The trading list FOR the day
Included seventy-six different stocks; OF
United States Steel common $3.50 shares
were sold. The opening price for steel wac
ssH, u of y point above It's closing quota
ton Of the nlght bsfore. TheI Prove "
The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-12-16
NEW BUFFALO TERMINAL.
Lehigh Railroad Completes Build
Ing and Freight sheds.

BUFFALO. Dec. l5.-The local Chamber
OF Commerce gave n luncheon to-day In
honor of the completion OF the hrst unit
In the development OF its terminal facill-
ties. The fretgh, terminal Of the Lee
high Valley Railroad. Including an otiice
building and "A freight shed SOC feet long
and extensive yards, team tracks. NC
ia now ready. The buildings are fire.
proof and thoroughly modern In con-
struction
While the freight station Is the hrst
TO he completed, every feature OF inc
terminal development IL making RAPID
progress. Both the IDshigh Valley and
the Delaware, Lackawanna ana West
ern railroads are building passenger ter
minals which not only Will take care OF
their own service but that of other rail
roads entering Buffalo.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-12-16
STOCK EXCHANGE L1sTINGs.

III. following securities were added se..-
i-rdav to the list OF tn. View FORK stock
Exchange: " .
Wabash railway Companv-si6.2Oo.ooo .
Ter cent. prob; sharing pre'erred stock a,
stick II nui si2.54O.U0O common stock
Thes. new Wah'sh stocks VIII not bs
traded In until tomorrow uorlnE
Dia mond Match Compnny-sfl3. fUc sd-
d,'ional capital stock.
- Louis Southeastern Roilwsy--H.ls5,
900 irst ,armiunl uni unifyinc mortgage
nv rsn' bonds
The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-12-16
Customs Receipts Yesterday.

The total receipts for duties al the
Custom House yesterday were $685.
1898. OF which s175,260,sS was foI
merchandise Withdrawn from bonded
warehouses and sl2s.17?,o5 FOR recent
importations.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-12-16
Christmas Tree for COnsOltdA ted.

Plans are being mad by members
OF the Consolidated Exchange for a
Christmas festival TO be held December
- on the f,or OF the exchange. There
will be a large Christmas tree decorated
with war stock certificates and other
decorations. NJ Twenty-second Regi-
ment Band will furnish the music.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-12-16
a,,ooo.o 600 In Gold Received.

Gold imports to the amount OF $1,000
900 were received at the Assay ONCE yes
terday. The gold was brought In by the
National Bank ~ Cuba