davidaulloa/AmericanStories huggingface dataset:
The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-02-19
PACIFIC MAIL FLEET
TO Be KEPT INTACT
Stockholders Approve Action
Of Directors in Resembling
Sale Of Seven ships.

At a special meeting Of the stock
holders Of the reorganiscd Pacific Mail
steamship Company yesterday the ac-
ton of the directors In resembling the
sale OF seven Of Its shIpe to w. r. Grace
4 Co. and the American International
Corporation was unanimously approved.
which means that the company will hold
intact the only fleet of American owned
vessels now available for service In the
Pacific.
The action OF the stockholders did not
come as q surprise to the nancia dir
trict. a. on February . last the COM
pany was r~eorGanised. At that time
the Southern Pacific company retired
from control and the reorganization OF
the steamship company was effected
with W. X. Grace & Co. n the Ameri-
can International Corporation at it's
head. II was decided at that time that
the name Of the company would not be
changed.
Officers Of the ~reorganized company
are: President, George J. Bald win:
Independents, John II. Rosseter and
Gordon c.. Carson: secretary. Ames His-
gins: assistant secretary. II. +. Railton;
treasurer. Percy Mayes; assistant treas
urer. ". b. Wallach: auditor. II. L. A.
Raiiton.
Directors In the company are George
J. Baldwin. Lawrence n. Sherman. Maui
rice Bowler. Ames higgins. T. p. SVEN
con. II. W. DE Forrest. Charles A. Stone.
Frank Il. Anderson and John II. Ros-
setter.
The ships affected by the action OF
yesterday ply between Pacific coast
points both In the United States and
Mexico and Central America.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-02-19
HIGHER PRICES FAIL
TO CHECK TRADE RUSH
Demand Continues TO Exceed
Supply, According to
Trade Reviews.

Despite high prices. demand far ex-
cecds the supply in many lines Of bust.
ness. according to the trade reviews for
the week.
Dun's says; Accumulation Of for
ward business is only limited By the
ability and disposition Of manufacturers
to further extend commitments. Dis
proportion between demand and supply
heretofore apparent in comparatively
few lines-is spreading. and IL Is increas-
ingly manifest that productive and dis.
tributing facilities have not kept pace
viii the rapid growth in requirements.
Except in isolated cases. there is no
evidence that steadily rising prices are
curtailing demands, the belief that the
upward tendency will continue impeliinE
prompt provision for future require
ments. Several Of the largest lines of
staple worsted dress goods have been
sold as far ahead as the mills will &C.
cept orders at the highest values ever
named. while manufacturer Of cottons
in New England are experiencing the
most prosperous conditions In years. In
spite OF the dyesturs shortage and other
handicaps."
Brddstrcet's says: al, around activ-
ity prevails. tho situation in some lines
being unparalleled. Buyers throng the
leading markets Industry, except In "A
few negligible instances. continues at
full speed prices. with the notable ex-
rsptiuu o. raw cotton, keep on rising {:
scarcity ~ numerous articles Is more
marked than ever. and while high costs
under ordinary conditions would tend
10 automatically restrict consumption.
the fact " that at this juncture the adj
! vanclng levels Seem To spur buyers to
extraordinary efforts To- NIL their require
'ncnts.
There Is no longer any great dispo-
sition 20 wait for "A sudden ending of
the European war nor to expect married
rctrogreSs.on In other directions. and
I domestic buyers, reconciled to existing
conditions. are anxious about having
| their orders taken by producers. There
IL. OF course. more or less deferring OF
projects because OF nigh prices. but this
factor is negatived by the larger one
| that America H. the only free market
to which belligeren;s and neutrals alike
| can turn"
The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-02-19
Live stock Market,

FRIDAY February ~.
Receipts Of beeyes were 1850 head, In.
Guiding 2lis cars for the market, steers
were slow to a shade lower; bulls in good
demand and frm; fat cows easier; others
steady, and medium and common stock in
good demand. ordinary 20 fairly prime
steers sold AT &7Tfs.T5 per 100 lbs. oxen
at s6.25n37.30, bulls at s5.50as7.50 cows
al So $3.50: ! extra COW at s. Is. Dressed
beef was quiet at louliisc. for common
to choice native sides,
Receipts Of calves were $40 head. irclud.
Ing $50 for the market. Veals We're in
fair demand at steady prices: other calves
Unchanged. TIL" pens We're cleared OF all
morning arrivals. Common to choice yeaIs
sold at VIA per 100 lbs. culls at S70
$3.50: u few liitle calves at 81; BARNARD
calves at s. 50U 81; ysarlings at IS IS. so,
Dressed calves slow to easier. Cit dressed
,eals were selling At IA. Wl9Iac.: country
dressed at l4Ia n lTc,
Receipts Of sheep and lambs were $50
head, AL for slaughter except half a car.
Feeling was rated steady. Common 10
fairly good sheep sold at asnS7.JO per 100
.bs common 10 prim" lambs al SiO uSI2
Dressed mutton steady at lOH lac. per TO-:
trrhsri lambs a. - ulsia".. best hog
dressed a. i3r country dressed hothousc
Hoceip,s ofs hogs we're 6. 400 head. IN.
Guiding -. cars for the market. Prices
'"l" fuIl steady. Light to heavy hoss
,"'l AZ fA,5o"fN - ncr 100 lbs. roughs al
'" ',untry dressed hogs steady Of 90
The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-02-19
10 TAKE OVER sCHINAsI co.
TOharr" Product. 60. VIII Bu,
Cigarette concern, II IL said.

The Tobacco Products Corporation ~
soon TO take over "A large independent
cigarette concern. II IL understood
from We. informed circles that Sch!na>i
Bros. is the Arm. several months ago
a combination involving Schinasi Bros.
with the Tobacco Products Corporation
was almost completed. but a hitch at the
last moment broke of negotiations.
The recent activity in the common
stock OF Tobacco Products. which has
advanced 10 points within the last few
days. IL attributed to the belief that the
new combination will result In a great
Increase Of the earnings OF the company.
The outstanding Tobacco Products ON
mon stock is approximately $4,000. 600,
and the preferred. which pays I per
cent. $1,000. 0Uo.
The report that r. Loriilard 4 Ga
would absorb the Tobacco Products com.
pany WAS officially denied yesterday.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-02-19
$@SS,S0o,000 CARNEGIE
BONDS FOR U. s. STEEL
Securities Turned Over to
Britain Sold by MOrgans
to Corporation.

J. r. Morgan & Co. nounc yes
terday that they had Just sold to the
United States Steel Corporation. s??,.
500. 900 Of that corporations collateral
trust 5 per cent. bonds. These bonds
are a first lien Oh the property OF the
Steel Corporation and are the secur'-
ties which were awarded to Andrew
Carnegie and his partners at the time
Of the formation OF the United states
Steel Corporation. J.. y. Morgan & Co.
acted as agents for the British Govern
ment In the transaction. these bonds
having been held In Scotland as a part
Of the Carnegie Foundation Fund. The
bonds were purchased ron the British
Government by J. +. Morgan & Co.
some tim ago and have been held by
that Arm In its vaults until the Steel
Corporation signified its Willingness TO
take them up.
II Ia understood that the Steel Cor
porat!on paid close to liz for the bonds.
as they were quoted at around that
figure by specialists. The sinking fund
for these bonds now calls for "A redemp-
ton Of &5.?5o.000 per annum. and TO
date }5l.S5s. 900 OF the bonds have been
taken into the sinking fund account by
the Steel Corporation.
TIT formal statement issued By j. +.
Morgan x Co. In connection with the
purchase Of the steel bonds was AZ
follows:
-. i. Morgan 4 Co. for the account
Of the British Treasury. have sold 10
the United States Steel Corporation S22.-
500. 700 Of United States Steel Corpora
ton frst mortgage ) per cent. bonds.
This II the lot Of so-called Carnegie
bonds received in this country some time
ago. and II is understood that they will
he utilized by the corporation for sink
ing fund purposes"
The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-02-19
ANSONIA STRIKERS
EXPECT AGREEMENT
Will Confer With Officials Of
Brass Companies on De-
mands To-day.
NO FURTHER OUTBREAKS

AHsoHiA. Conn. Feb. l8.-After Q
night Of disturbances and a day Of tense
u%neasiness around the mills Of the
American Brass Company Mayor John
W.. Schumacher accurately sized up the
situation among the 1000 striking
foreigners tonight when he said
Everything is quiet now and almost
normal. The outlook Ia decidedly favor
able az compared with last night"
Mayor Schumacher spent the evening
at the police station. keeping In constant
touch with the strikers movements and
the hundred special deputies who are
guarding mills Of the Coo BraN Com
pany. the Farrell Foundry and Machine
Company and the American Brass Com
pany. There was no street ~demonstra-
ton to-day and up to midnight no ar
rests had been made by the regular and
supernumersry policemen.
Not a wheel In any VI the Ansonia
mills turned to-day. Tomorrow and
Sunday will probably be given over to
conference between the corporation OH.
cials and the committees appointed at a
big mass meeting Of the strikers helj
this afternoon In Sarsicld Hall. These
committees will report TO an adjourned
meeting to he held Tomorrow morning
that although they failed this afternoon
to secure any positive assurances from
the mill owners they believe that after
one or more meetings with the officials.
who thus far do not clearly understand
the strikers demands. a compromise may
toe reached.
The general demand is for a wage In
creas. Of rs cents "A day. with a mini
mum Of $3.50. When the mAchinists'
The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-02-19
MORSE OFFERS SHIP STOCK.
shares In Five vessels Open "a
SshscpIption.

The first Offering OF stock in G. W.
Morse's new shipping project has been
made 10 the public. part OF the shares
in live Of the twelve ships which were
purchased for the original operation be
ing open to subscription. Seven OF the
ships were completely taken UP BY Mr..
Morse and his associates and also a
portion of the five in which shares are
being offered.
OF these five ships four were pur-
chased AZ $4,000 and one at $4,000.
II il expected they will be loaded for
their frs, voyages within thirty days.
-Four OF the ships in the project are al
ready at sea II three others are In
port to load.
Tie Morse interests are contemplating
the purchase OF additional bottoms. II
was stated yesterday. Under The plan
each ship ls u company by itself, NP-
i,alized at the purchase price Of the
ship.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-02-19
STERLING SLIGHTLY STRONGER
Marks Advance FractiOuRHy, hut
Austrian Decline.

Sterling exchange was fractionally
ronge yesterday, closing at t76is for
demand and +,76"s for cables. This
compares with 4.76 and A76 9-IS on
Thursday, Francs were quoted at 5,Ss
for checks and 5,s7. for cables. They
closed the day before at 6SSis and
5,S7A, Italian lire was quoted at $50.
againsI "A previous close Of 66S, and
rubies advanced from 1850 to 3l.75.
Guilders were easier at f2t. as COM
pared aith ~ 5-l6 oh Thursday.
Marks advanced from 74A for checks
and ~ 7-i6 for cables to 74ia and 7tas.
Austrian kronen continued their decline,
closing at IS, against a previous close
of 1905.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-02-19
WARNS AGAINST EVERYTHING.
'.Dry Gs~ods E~conoutst" sees Need
Of Caution,

The Dry Goods Economist says: The
most important policy for distributors
OF merchandise. and especially retailers.
at the present time is TO shun unneccs-
sary buying. Through their OWL III
v~estigRtiOns and from various sources
the trade has become fam.liarised VITA
the conditions present and prospective.
and what IL needed to-day more than
anything else is a warning against
overbu! Ing.
This is by no means needed in AL
cases. There are many retailers who
have avoided the placing Of unusually
heavy orders. especially on merrhan-
disc which they nave reason TO believe
can be obtained from time Ia time as
needed. There Is reason 10 know. how
ever, tina; in other instances ordering
has been lone on too large d scale.
Ths is always the case when doub, ex-
lists as to the ability of the seller TO
make deliveries. The individual orders
are increased and orders are placed
with more concerns, be causo inability
to deliver Is expected. and with inten-
ton to cancel II necessary. Thus
there II created AN artificial demand.
which in turn creates higher prices
without due basis
The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-02-19
STATEN ISLAND NOTES.

FraternaI organizations OF which he was
a member are raising a fund for the cree
tion Of a memorial To the late Charles j.
Mccormack,
william q Willcox has subscribed ST.
900 toward tn" building fund for the new
museum Of the staten Island Association
OF Arts and Sciences,
MIR. and Mrs. clarence 4. Gregg Of 20
clinton avenue, Port Richmond. have an
nounced the engagement Of their daugh-
ter. GLADYS Elizabeth Gregg. to Franklin
V. Foggin.
District Attorney f'orh has advised the
New Jersey Board Of Health that his Of.
tiCe VIII pursue tactics similar to those Of
the Riverside Drive smoke opponents In
seeking to Rbate the nuisance from the
XII van Kull stacks,
John Rrisb"n walker ANA sidney A.
Reeve win he III" speakers at a peace
meeting In Public Schooi ~. Siapieton. on
Tuesday afternoon under IN" auspices OF
the local committee Of the Woman's Peace
party. Borough President Calvin u. Van
Name. President Wilcox Of the Board OF
Education. Commissioner JOIN A. Martin,
eN'Assomblynan Mckee, District School
superintendent Reynolds and Miss ANY
Blake are on the committee.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-02-19
NOTES REDUCED $ls.ooo,ooo.
New York Central Disposes ri
stock IN Treasury.

The New York Central has disposed
Of the $4,000. 900 Of It's own stock. which
w.,s held IN the treasury Of the New
York State Realty n Terminal Com
pany. one Of its subs!diar ies. This sale
cuts down the amount OF It's outstanding
notes due on November ! to us 900. 900.
Last year at this time the notes and
bank borrowings OF the New York Cen
trail amounted u about N33.O0O.0 900.
Approximately 800. 100000 OF these were
provided Cor by the sale OF convertible
debenturcs in May. 1916. Some S?.0oo.oo0
has also been provided for by small
Items Of treasury assets. such as the Big
-Four bonds.
The last operation o. the company
substitutes $4,000. o0o stock Liability for
Indebtedness OF the same amount It's
position Is further strengthened BY the
Ia amount OF cash earnings now at
hand. The surplus at the clos. OF 1915
amounted to $4,000. 900. The company
has decided u meet the cost OK ne"
rolling stock out Of the cash surplus
instead ~ issuing 100000 IN equip
ment trust certificates.
n net earnings continue at the present
rate the company expects to be able
! to NEE. from earnings the notes falling
due on November !.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-02-19
MIDVALE BOND SALE
TO PAY FOR CAMBRIA
Bankers Offering Of S5O,OOO,.
900 Issue Already Over
subscribed.
COREY ESTIMATES GAINS

The Guaranty Trust Company. the
National City Bank and Lee. Hlgginson
a. Co. announced yesterday that the
Offering Of 100000 0o twenty year D
Der cent. convertible bonds of the MIDI
vale steel and Ordnance Company had
been o~yersubscribed. but that the books
would be kept open for the stipulated
period In connection with this Issue
IN. full details Of the financing made
necessary by the acquisition OF the Cam
brl, Steel Company by the Midvalc COM
psny have been announced.
Th. MIdyal. company IL to acquire
the stock of the Cambria company. cost
.ng more than SIS. 900. 900. with proceeds
OF til. sale OF it's own capital stock. All
Cambria stock so acquired must he de-
posited with the trustee OF the new
bonds of the Midvale company before
any of them ran be issued. This initial
pI.dpc of Cambria stock cannot serve
rs "A basis Of any issue OF bonds. IL
will represent al all times an Investment
Of the Midvalc company in Cafnoria
stock amounting to more than s25.ooO.-
900 in excess Of the proceeds OF any
bonds outstanding.
President william T.. Corey estimates
IN. earnings and income Of the Mid
vale company and its subsidiaries. ap-
plicsblc to fixed charges upon the ne"
bonds, for the year ending December III.
1916. at more than nine times the
Interest, Requirement; on the total au-
thorized issu. and more than seven times
the interest and sinking fund require
ments.
Tn. Mldvale company. through TN,
ownership of practically the entire
capital stock. controls Worth Bros. COM
pany. and through the ownership OF ~
per cent. OF It's capital stock the MID
vale Steel Company. These companies
own plants at Coatesville and Philadei'
phia, Pa. the steel capacity OF whicl
amounts to $4,000 tons "A year. a con-
siderable yortion Of the total tonnage
consists of special products. such ~
boiler tubes. locomotive cars and marine
forginge. which command "A high price
Through the ownership of all the capita
stock OF til. Buena Vista Iron Company
the Midvale Steel and Ordnance Com
pany has valuable ore lands in Cuba
Through the Remington Arms compan,
Of Dell 1t has rifle contracts witt
the British Government amounting &c
500, 900, 900.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-02-19
NEW $ls,ooo.ooo ERIE BONDS.
stock holders Approve Issue At
special Meeting.

The issuing OF $4,000. 900 genera,
mortgage convertible bOndS was formally
approved at "a special meeting Of the
stockholders Of the Erie Railroad ytster-
day. According to the stipulations. So
627,i30 of these are to be e~xchangeable
for stock between April I. 1918. n Oc-
tober l. 1927. AT the rate Of not less than
$50 a share. TT, bonds will be offered
to stockholders at So to the extent Of 10
per cent Of their holdings.
The SIC, 1000, 900 OF series "C' bonds
now owned by the company were also
amended to have the sam. date and
serial designation as the new issue, The
directors were empowered to make both
issues convertible into stock between the
same dates.
The new issue was formally protested
against at the meeting by Clarence ii.
Venner.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-02-19
IRON AND STEEL MARKET.
Railroads aud Gar builders Press
for Metal.

Activity continues IN all bran"he. Of the
steel trade and pri,rs are steadily advancing
railroads and ear builders are pressingly IN
the market for steel bars, plates and shapes
Agricultural implement manufacturer also are
fevrrishly res.rylnE spa,r for rolling soft steel
bars for delivery after next July IL L. under
stood that drfmt. contracts for 5pisG tons
have been placed IN the last week and re-r'
vation. have been made on probably five
times ~ much. but the steel companies will
not take recognition of these orders until
there are definite written contracts.
The contract placed on Thursday by ihr
pIblic Servl'e Commission for the installa-
'ion Of tracks on the White Plans elevated
road extension u for material already pur-
chased. hut some additional contracts for
fro-s and switches are -till To Nv placed for
other sections The New York Municipal
Railway IL sull negotiating for 1909 tons Of
contact rails In the central West rail in
Guiries amount 10 about 1900 tons.
The largest contract for foundry iron PLACED
IN this section IN the last few days Is 5.O1
tons for a pipe plant. 1850 tons to be deliv.
ercd over the second half Of the year and I no
tons over the last four months OF 1916 Sew.
oral additional contracts were placed yester.
day for foundry grades. running from IN IN
ao tons. mainly for shIpment during the third
quarter OF the year The Mallcable Syndicate
- on the marhe, for $3.50 tons OF mallcable
b"-.emcr.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-02-19
UNITED FRUIT STICKS TO FLAG.
Deaial That Ships May Return TO
British Reglstry.

Officers here Of the United Fruit
Company denied yesterday the reports
from Washington that the company had
contemplated returning It's ships TO the
British nag BECAUSE of tn. stringent
regulations in the LA Toilette bill.
Statements from Washington a
Thursday were that Government off,
Gals were working for certain modifica-
ions In the provisions OF the bill-par-
ticularly that requiring separate boilers
for deck winches-and were especially
anx GUS 20 succeed because Of the in
forns tion that the Fruit company.
which placed its ships under the Ameri-
can nag after the war began might re-
turn them to British registry.
II was said yesterday II a the com.
pany had many protests against fea.
lures Of the Government maritime regu-
Lotions nshinC that their enforcement
be postponed. In the hope that the bill
might he amended. hut that any state.
ment that the company had suggested
withdrawing it's ships from the .Ameri-
a nag was not based on fact.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-02-19
DREsSMAHHRS' STRIKE ENDS.
victory Won for the 'PresePeatial
union SHOP Principle.

The st1ke Of 10000 girls In the shops
Of the House Dress and kinono Manu-.
facturers Association was settled yester-
day through an agreement signed at ,.
Union Square by Benjamin Sch,es niger.
president Of the International Ladies
Garment Workers Union. and saa Gins
berg. president OF the House Dress and
kimono Manufacturers Association. In
which the association agrees to the pref
erentiai unior shop As defined by Judge
Julian w. Mack of Chicago In the shirt
wais, arbitration case.
The principal features of the agree
men, are forty-nine hours work a week.
with a maximum Of four hours overtime
and not more h one hours overtime
a day except in the case Of cutters rate
OF pay, Is cents an hour no sub-oOn-
tracting. equitable distribution of work
and the Mayors council Of Cancellation 10
be the rnal court of arbitration.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-02-19
DOUBT CUBA WILL TAKE ROADS.
OmciaIs Of lines DO Not Look fOs
Government Ownership.

The report from Havana that Pres'-
dent Menocal Of Cuba had appointed a
commission tn investigate the possibility
O. government ownership OF Cuban rail-
ways II believed by the officials OF Cuban
railroads In his city to he without par
ticular Significance. The general belief
was that the creation OF the commission
war a political move In view Of the APP
preaching election and that the commits
sion would drop out Of sight through In
activity.
Cuban railroads are at present under
the control OF a Government railroad
commission composed Of three members
Of the Cabinet ex onicio and appoinuve
members. which II akin to the Interstate
Commerce Commission IN this country.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-02-19
CENTRAL LEATHER GAINS.
Balance Of &4.:N5, n After In
terrst and D~ivid~nds.

The report Of the Central Leather
Company for TN. year ended December
~. 1915. shows a balance OF 3+.295.so6
for the year after payment OF bond inter-
est and prefcrr, u stock dividends. This
II an increase Of sl.7ts,373 over the year
preceding II is equivalent TO 1882 per
cent. ON the orninon stock OF &3?. $50.
as against cal per cent. earned In 1914.
Divid. nds on tn" common stock were
paid to the amount of s1.oNs.o3s, AN in
crease OF S39s.9l0. \ surplus remained
~ ~s2.1oI..2s. An increase Of i352.s $50.
Thu total surplus on hand was $4,000
~. Total net earnings for the year
We're $s.isj.l0i.
The report of the company for the last
quarter shows a net profit of $780, s2.
an increase Of $9@5.537. Tn balance for
the quarter IN S2.GsO.230. This is equal
o. . p per cent. on tn. common stock for
IN. quarter, or an annual rate OF :i.l2
pr cent.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-02-19
WOULD INDICT COTTON RAIDERS
Southern House Members Say That
Ring Depreases Price.

WAsHiSGroE. Feb, lS..-A delegation
from cotton growing districts headed
by Representatives Howard OF Georgia
and Helm OF Alabama will confer with
the Attorney-Gencra, tomorrow in an
attempt to secure indictment o! the sup
passed ring charged with conspiring 20
depress the price of cotton. Mr.. Hefl Il
said tonight tina. u bear raid on The
Cotton E%exchange IN New York yestc".
day was conducted by the accused met.
Following IA conference to-day with
trio Secretary Of state Representative
Howard and Hefin indicated thai I've
cotton growers would favor the Admin
lstration Strong bill az "A means OF pro-
riding better transportation for cotton
growers.