davidaulloa/AmericanStories huggingface dataset:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-05-19
A Day of Many Rumors.

Signs of accumulation of Reading
have been apparent for some time past,
according to brokers. In recent days
one house in particular has been re-
ported a heavy buyer Of the stock. be-
ing credited with the purchase of up
ward Of $4,000 shares. There was
runner yesterday that National City
Bank interests had purchased from the
First National Bank and the Morgans
a considerable block OF Reading com
mon, the purchase being contingent
on the conversion Of the outstanding
S42.000,000 OF second preferred stock
into one half common and one half
first preferred, as provided for under
the terms of issue. Furthermore the
report had it that this action would be
followed by an increase in the com
mon dividend. The strength of the
second preferred was apparently due
to the rumors of its conversion. al
though the company may retire the
issue at par, $50, in cash. Conversion
into common and first preferred at the
prices prevailing Yesterday would have
made second preferred worth nearer
$40 than the S51 at which II sold. As
10 the rumors Of an adjustment OF
capital assets with a distribution to
stockholders of substantial melon,
these apparently carried more weight
yesterday than for long time, owing
TO the sharp rise in the common stock.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-05-19
Big Day in Reading.

How prominent the Reading issues
were yesterday may be seen from the
fact that out of a total business OF
10000 shares over 100000 shares
were in the common and around 1000
in the second preferred. Reading
common, strong the day before, took
up its advance where 1t left OF
Wednesday and with scarcely set
back of any Importance forged
straight ahead until a minute or so
before the close a single block Of 5000
shares changed hands at an even 100,
an advance of points from Wednes-
days final figure The feature of the
buying of Reading common was the
big blocks in which the stock was
taken, numerous chunks OF 1000
shares and 1000 shares coming out on
the tape. At the close when the
price was lifted to the highest level
in the history Of the company the
Reading post on the Exchange was the
centre Of an excited group of traders,
many of them shorts. who made siren
uous efforts 10 cover their commit
ments After touching 100 Reading
dropped back 20 99's. where II showed
a net gain on the day of Gbs points.
Reading second preferred. while not
so active or conspicuous as the COM
mon, nevertheless attracted attention
by advancing more than points
TO 81 p.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-05-19
Reading Furnishes Big
Sensation of the Stock
Market.
ADVANCES TO 100
ON HEAVY BUYING
Seven Point Upturn Revives
Story of Capital REIMBURSEMENT
peace Stocks" Up.

With the exception perhaps Of a
handful of skeptics. old observers OF
the stock market, who have heard the
story Of an impending distribution
of Reading assets repeated of and
on with monotonous regularity these
dozen years or more until they had
come TO regard it as a myth and a
tradition, were forced yesterday to
the conclusion after witnessing the
remarkable performance OF the Read
ing issues that Something important"
was brewing in the affairs of the com
pany. Rumors as TO what this some
thing was were as vague as ever Yet
there was the feeling in the Street all
day long that big developments were
impending and perhaps close at hand
in Reading and that the stock ticker
was telling the advance story. Read
ing common, always a wild actor as
a speculative medium. showed the big
gest advance for O single hve-hour
session In months, or years, for that
matter Its strength was so impress
sve and the buying of such char
acter as to indicate accumulation by
strong interests and not manipulation,
as has been charged on recently pro-
ceding DAVIS
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-05-19
4 Change Of Heart.

In a discussion of the investment
situation, Knauth, Nachod & Kuhne
call attention to the significance OF
the fact that the public attitude
towards the railroads is much more
favorable than il was before the war
began. There is little chance to-
day" they say, "for the politicians
10 make a hit with the public by pro-
posing some new scheme of regula-
ton. II is noteworthy that the state
railroad commissions are assuming a
more reasonable attitude. Nothing IS
heard these days about the extension
OF the two cents-a-mile fare area. On
the contrary, there has been progress
made in the other direction. This
changed attitude Of the public is the
more remarkable IN Presidential
year, which is ordinarily the season
for heavy campaigning against cor
porate enterprises. The railroads are
getting to-day much better rates than
railroad managers expected 20 get two
years ago, before the war excitement
directed attention 10 the perilous sit
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-05-19
READING GETS UP
TO DOUBLE PAR
Anthracite Carrier Advances
with Heavy Buying.

Great activity with noticeably
strong close in shares of the Reading
Company yesterday on the Stock Ex-
change brought out a large crop of
rumors to account for the vigorous ad-
vance. More than 100000 shares of
the common changed hands during the
day, and it closed but a little under
double par, after having reached that
record mark in the late trading. At its
best it had made gain of seven points
on the day. The second preferred was
also strong. Explanations in the Street
included distribution of assets (Which
has persisted for months, readjust-
ment Of the capital and new control.
Most persistent of rumOrs, perhaps,
was that the Rockefeller interests were
buying large block of shares held by
the First National Bank and j. p. Nor
gan Co., and that the retire
ment of the outstanding 100000
second preferred and a higher dividend
on the common were in view. No sub
sanitation of this, however was forth
coming IN business hours from any Of
those interested.
The company has paid per cent
annually on both the first and second
preferred issues since 1904. There is
outstanding S70,000,00O common, $2s,-
100000 first preferred and S42 900 600
second preferred stock. II is provided
that after the company has for two con-
secutive years paid 4 per cent on the
first preferred, it may convert the
second preferred at par, one-half into
first preferred and one-half into COM
mon. At any time the first or second
preferred may be retired at par for
cash. The common stock pays divi-
dends at the rate Of 81 on each share
of $40 par value.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-05-19
Rails in Demand.

The rise in Reading. whatever its
merits, acted as a stimulating infu-
ence on the rest Of the railway group.
Coal roads particularly responded in
sympathy, with Erie, Norfolk e. Yves
tern and Lehigh Valley especially
prominent. Norfolk & Western sell
ing above 1875 touched the highest
price in its history. At the same time
stocks like Union Pacific, Southern
Pacific, Atchison, 81. Paul and Cana
dian Pacific did well and the fact that
the rise in this group of internation-
ais was not met by increasing offer
ings from the other side was favor
ably commented upon. Baltimore &
Ohio was another strong rail yester-
day, its strength being attributed to
the rise in Reading common, OF which
the Baltimore owns big block.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-05-19
COTTON ACTIVE;
PRICES BETTER
Strength at Liverpool and Doubt
full Weather Outlook Starts
Good Demand.

The cotton market showed renewed
activity and strength during yester-
days trading, with old crop months
making new high ground for the move
nent, while the new crop sold back 10
within or points Of the high
levels reached on the advance Of last
week The continued strength of
Liverpool, reports Of an improving spot
demand, increased confidence in peace
rumors and rather an apprehensive
view OF weather conditions appeared to
be largely responsible for the broaden
ing demand. July contracts sold up TO
1926 and closed at 1928, with the
general list closing steady at a net ad-
vance Of 13 70 IS points.
Private cables attributed the firm
ness IN Liverpool 90 scarcity of summer
month contracts, and there was a feel
ing among local bulls that the advances
abroad reflected an increasing desire TO
attract additional supplies from this
country The market here opened
firm az an advance of @ 20 Il points IN
response 20 the frmness abroad, and
active months sold IA to 10
points net higher on or i'm
medistely following the call. Liver
pool was q big buyer of July, but
was q moderate seller of new crop
months, while the advance attracted
a good deal Of realizing and prices
sagged of some 6 or points from the
best during the morning There were
evidences Of broadening demand,
however, and prices rallied later on
reports Of severe Gulf storm at Gal
weston and a renewal of peace rumors.
Active months sold Il 10 10 points net
higher in the late trading and closed
within a point or two Of the best.
General rains reported In Texas
were hardly expected by local traders
az the official forecast of Wednesday
had been for generally fair and warmer
weather. There nave been a good many
orouth complaints from the southern
part Of that state, but a wire received
here from Dallas said it was too wet
and cold, and there was some talk
yesterday Of too much rain over the
greater part Of Texas. As drouth
complaints have also been coming IN
rom the Eastern belt, the prediction
lor showers was not considered unfa-
,oTaUiei but temperatures seemed 70
De unseasonably low, and there was
evidently disposition around the ring
70 emphasize unfavorable features in
the new crop outlook. The chief talk,
however, was Of peace possibilities and
me probable effect Of anything definite
10 that direction.
Exports for the day were s,S78 bales.
mGe.ag 4Ts7,e93 so far this season
against 7C0L542 last year. Southern
spot markets as officially reported
We're unchanged 70 25 points higher.
Range OF prices.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-05-19
BRIEF WALL STREET NEWS

Directors Of the American Brake
Shoe and Foundry Company have
elected Otis II. Cutler, formerly pres
don't chairman of the board, and Will
lam c. Pearce has been elected pres
dent 70 succeed MIR. Cutler. James >.
Thompson, William S. McGowan and
Clifton ID. Pettis have been elected ad-
ditional presidents.
Extra dividends have been declared
nv these companies: Atlas Powder
Counanv. an extra disbursement OF )
ner cent; Eastman Kodak Company,
ne per cent extra on the common
stock: Standard Oil Company OF Ken
lucky. an extra dividepd Of 81 share
and the Brooklyn Union Gas Company
per cent additional
An initial quarterly dividend OF "a
per cent on the second preferred STOCK,
il was announced yesterday, has oeeh
declared by the United Drug Company,
payable June l to holders OF record
May 10.
Morton c. Coggeshall yesterday was
elected a director and treasurer OF the
Ralston Development Corporation.
Stockholders of the Havana Electric
Railway. Light and Power Company, at
their annual meeting yesterday, elected
Horace f. Andrews a director IN place
Of Pedro Landlords, whose term OF OIL
fee expired.
Major W. J. Hawkins has been elect
ed vice-president and director OF the
International Arms and Fuse Corpora
ton.
Stockholders Of the +. W. Woolworth
Company. at the annual meeting, elect
ed &. r. Newberry a director, to sue
coed Walter Williams. resigned.
Dominick & Dominick, as syndicate
managers Of the United Motors Cor
poration financing, are receiving sub
scriptions for the stock at SCI share.
John Hughes, for number of years
general manager Of the United States
Steel Products Company subsidiary
company of the United States Steel
Corporation, has been appointed assis-
tant TO President Farrell.
The Sub-Treasury has transferred
100000 to San Francisco.
A New York Coffee Exchange mem
bership belonging 20 the estate OF Max
Hermann has been purchased by w:
+. Blake for SS,925, an advance OF S3So
over the previous sale.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-05-19
MORE GOLD; STERLING UP
Current Imports Of Precious Metal
Now Almost SIi 900 600.

The influx OF gold from Canada con
tinued yesterday, with the arrival for
the account Of j. z. Morgan & 90. OF
S2,l20,OO0 in bars bearing the stamp
Of the Royal Mint Of Ottawa. The
gold was deposited at the Assay Office.
This shipment brought the total re-
seived from Canada since the current
movement began week ago 20 &c.,
$4,000. and more is expected.
Sterling exchange rates responded
again yesterday 10 the arrival o! fresh
gold, sight drafts advancing 20 ii16is
the highest level since early this
month. when exchange on London be-
gan % ease or. They closed lower,
however, at S475's, against si75 1915
on Wednesday. -
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-05-19
Distillers Back on Dividend Basis.

In the furry Of the rise in Reading
the Street almost lost sight OF the
favorable action of the Distillers Sc
curities directors in putting the stock
on an annual dividend basis Of Is per
cent and retiring s2.0O0,OOO OF the 3
per cent bonds. As it happened, this
action had been expected for a month
past; nevertheless. both the stock and
bonds advanced after the announce
ment. Thanks to war profits, the COM
pany is back on dividend basis for
the first time since 1912, and at the
same time Distillers' fixed charges
are lower by substantial reduction
in the bonded Indebtedness.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-05-19
"Peace Stocks" Up.

Persons who persist in believing
that there is. after all, something IN
the peace talk and rumors pointed TO
the rise in the rails and the heavy
tone of the majority of the war stocks
and metal shares as strengthening
their line of reasoning. Similarly,
they called attention TO the upturn,
81 points in Consolidated Gas, pre-
eminently peace stock" and the
strength Of General Electric, which,
while doing a large amount Of war
business, will. it is believed, profit
more from the return of peace than
a continuation of hostilities.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-05-19
FINANCIAL MEETINGS.
LYNN PH0k0GRAPH COMPANY

PLEASE TAKE NOTICE that special
meeting OK the stockholders or this company
viii be held on The 10th dag OF june A. the
office Of the Company. No. ! East Mercer 81,
Union Banking Bldg. Hackensack. Sew Jer-
sey. AZ which meeting there viii be submit
tel FOR The confederation ana approval ~ the
stock holders. AN agreement for the consoll-
fafion and merger ~ The Lynn monograph
Company with he Flemish-Lyun Photograph
Company. pursuant 10 which agreement tho
stockholders OF the Lynn Photograph Com
pany are 90 receive tWo go shares Or the
preferred stock % the par value OF - ana
f0ur-ffths 81 a share OF the common stock
N the par value of s. ~ the flemish-Lynn
Phonograph Company for each share OF the
Lynn PhOnograph Company.
CLYDE n SLEASE Secretary.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-05-19
ON THE CONSOLIDATED.

More than 1000 shares of Reading
changed hands above 100 on the Con
solidated Exchange near the close OF
the day, transactions taking place as
high as 1902. The stock was active all
day, its turnover reaching nearly 3D.
600 shares. Erie was also notably
strong, after opening at 37is, its low
est. United States Steel did not get
above SO. Mexican Petroleum touched
a high of 1l0i2. Distillers' Securities
changed hands as high as 81.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-05-19
DIVIDEND FOR DISTILLERS
Disbursement at 6 Per Cent Rate
S2.OOO,O00 Bonds Cancelled.

Directors Of the Distillers Securi-
ties Corporation yesterday declared a
quarterly dividend of IL per cent on
The company's S3O,S43O00 capital
stock. II is the first dividend declared
since October 81, 1912. when z Of /
per cent quarterly was paid. Two
million dollars Of the per cent bonds
were also cancelled. These bonds were
purchased in the open market out OF
current earnings
The company is known to have
shown increased business, especially
in the last six months, current earn
incs having been estimated at the rate
Of 90 per cent on the stock.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-05-19

Reorganization managers for the
Minneapolis & ST. Paul Railroad an
nounced yesterday that total OF 1884,
600 shares had been deposited under
the Erb plan. Five thousand addition
al shates have been deposited, it was
said, since opposition was begun. It
has been agreed between majority and
minority factions that the Erb plan
Is not 10 be declared operative before
June le, giving the opposition COM
mittee d month in which TO canvass
stockholders on alternate proposals
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-05-19
LONDON MARKET
CONTINUES FIRM
Brazilian Issues Show Special
Strength-Coppers Rise
Home Rails Active.

London, May ls.-The frmness con-
tinued on the Stock Exchange to-day,
with special strength in Brazilian is
sues due TO the Improvement in Brszifs
trade and finances. Home rails and
special mines were active and copper
stocks strong, while japanese bonds,
the war loan and q majority OF the
cilt-edged securities turned against
buyers and the stock appeared TO be
short in most instances. Consols closed
Is lower at 57B; the new war loan
u higher at 81.
The Bank Of England shipped $780,
900 in sovereigns 20 Spain and 100000
70 South America.
Money was plentiful, despite large
purchases OF Treasury bills. Discount
rates were dull. Money loaned at 4 to
~ per cent. Discount rates for short
and three months bills were IA to
434 per cent.
Gold premium at Lisbon was 800.
Paris. May l8.-Trading was active
on the Bourse to-day. Three per cent
rentes closed % confines lower AZ %
francs 50 confines; the five per cent
war loan unchanged at So francs. Ex
change on London, % francs 70 cen
times.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-05-19
PUBLIC UTILITY NOTES.
General News and Earnings of Various
Corporations.

Consolidated earnings Of the Column
bia Gas and Electric Company and sub
sidiary properties in April made an ad-
vance of over 9 per cent in gross, which
totalled $751; ,924. The gain in net was
even better than in gross, despite an
increase of more than per cent in op-
Grating charges Net earnings for the
month totalled s427505. nearly 10 per
cent greater than Tor April, 1915, and
surplus after rentals, etc, and after
deductng fixed charges of the Column
bia Gas and Electric Company,
amounted to S126,l34, gain of over 46
Uer cent
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-05-19
Morgan Bond Man IN Cuba.

A. NJ. Anderson, head Of the bond
department Of J. p. Morgan & Co,
has been in Cuba for the last few
DAYS. That the firm has taken in
crcasing interest IN Cuban matters
during the last three or -FOUR years IS
well known. Several bond and note
issnes OF the Cuban Republic were
handled through Morgan q Co.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-05-19
......19.7O1 2O,lOO 1923 l.lJ8.9o3

Special Liverpool cables-Spot cotton, IN
good demand sales. 10000 bales speculation
am export, 900: American. 5000 imports
"a. 600. all American middling upland. e.66d :;
futures opened steady. 4G5 points higher on
near and 8M4 higher on late months; closed
very steady at nat advance Of eul2 points.
May-June, S40d July-Aug, $3.50. Oct-Noy,
sold: Jan-Feb 7.92iad; Mar-Apr. $50 ed.
Manchester-Yarns hardening cloths fair
business doing.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-05-19
American Gas and Electric.

The report of the American Gas and
Electric Company for the year ended
March 81, 1916. gives combined gross
earnings Of subsidiary companies to-
falling S5,251,9O5, which compares with
Sl.5IO,0OS in the previous year The
balance of subsidiary company earn
ings available for the American Gas
and Electric Company was Sl,347. 547,
against s1,071,S and the surplus,
after expenses and interest charges,
was S1Il9,725, an increase Of S269,293.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-05-19
Helena Light and Railway.

Electric, gas and railway revenues Of
the Helena Light and Railway Com
pany for April, amounting to S24,335,
we're S.13 per cent higher than year
ago. while net earnings from operation
showed an increase Of nearly 20 per
cent. Surplus after underlying com
pany's charges. interest on bonds, etc,
was S4ls. compared with deficit Of
S572 in 1915.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-05-19
$4,000, 900
SINCLAIR OIL & REFINING CORPORATION
NEW ISSUE
z@.rs<<nnaasmnu.n


CONVERTIBLE 600 GOLD BONDS
hor1ed Lu~s
Price 99R and accrued interest
eoemauou May 7. " ods e,M
May I
Eome n signed By President Of he Corpora"
A first lien through & on established lines and
properties md leahdd mKnsn nd
determined in o $400O0Ooo
Me- monUnb estimated by a over
Ammim Fund Of tn hhanomt suedp
payment of addition O9o
n in
hnyghen to the o andm and
at or an interest,"
al n be called by
ku Henex 2monhs h
gfo dwoddnm to
now issued
Bos.r exdan Of the al 5pe until
al share t
Of call
o. o NO values in the market
foHe
to Oshaesof of
and fund W $3.50
Complete Request
as On
KSSEl, KINHlcUTT G co. WHITE, weld & CO.
MONTGOMERY, CLOTHIER TYLER SPENCER TRASk CO.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-05-19
MINING.
DAILY IMPORTS AND EXPORTS.

Daily imports and exports OF gen
eral merchandise az the Port or New
York were:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-05-19

'And per cent extra And q. per cent extra
,In.edm dividend slniIai dividend 'Anf s. a
share extra tAnd I per cent extra.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-05-19

ne local market Tor spot cotton was
sstady and 20 points higher at l3-S5c for
,....dhng upland sales nil delivered on con-
uss,, 200 bales.
Receipts az ports and interior points. with
fomparisons. follow.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-05-19

uation of the transportation indus
try"
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-05-19
PUBLIC UTILITY SECURITIES.
More Stockholders for Erb Plan.

'Psr vslu. 80
The citizen. [volume] (Berea, Ky.) 1899-1958, 1916-10-26
A THOUGHT

Life is too short, my dear, too short
The grave too near al hand
To fret and fume in useless strife
And toll for gold and land.
Heaven above us, earth around
The infinite works OF God
A consecrated life of love
And Duty's path well trod.
These are the gems in the whole,
wide world
Worthy the price Of strife
And the consummate end OF all
human trend
Will be found in a well-spent life.
So noble thought, we ever and
The greatest need OF all mankind,
And who receives in answered pray
er
Will find heaven treasured there.
Oh give TO me that treasure sweet
No better gift can I entreat,
My passing act I shall not heed,
My thought is pure, It's all I need.
Seward Gwaltney.
But, to the hero, when his sword
Has won the battle OF the free,
Thy voice sounds like prophets
word,
And in its hollow tones are heard
The thanks of millions yet to be.
-Halleck.
The citizen. [volume] (Berea, Ky.) 1899-1958, 1916-10-26
No Whiskey Advertisements !
No Immodest News Items
CHRISTIAN ENDEAvoR DIRECTORY

We are giving below the names OF
the leaders Of Christian Endeavor
al the Union Church this year. Ev-
cry one should know the officers OF
the organizatioe. They are:
President. Glenn Phelps; vice
president, Lloyd IRackley; Cores
ponding secretary. Katherine Har-
wood: recording secretary, Stewart
Leask; treasurer, Luther Ambrose
chorister, Luther Ambrose.
Chairman of committees: Prayer
meeting, Miss Bertha Olmstead and
Fred Evans: lookout, Mcdonald
Franklin and Miss Effle Ambrose;
social. Miss Jewel Ogg and Thomas
Parker; missionary, Miss Sadie
Johnson and Ralph II. Jones; pas
tors aid. John Crosetto; flowers, ID.
Frank Sharp and Cecil NJ. Fry; in
formation, Mr.. Shut; evangelistic,
James Heird and Miss Beulah May.
These young people are the friend
of every student and wish Ia help.
See them when you need friend.