davidaulloa/AmericanStories huggingface dataset:
The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-03-12
FINDS WAR IS ADDING
TO BOND PROBLEMS
Banker Franklin Tells of FL
forts to Protect Ampri-
can Investors.

BALTIMORE. March lI-At the annual
banquet Of the Baltimore Chapter OF tho
American Institute OF Banking at the
Belvedere this evening Lewis r.. Frank
lin. vice-presidcnt OF the Guaranty
Trust Company OF New York and presi-
dent OF the Investment Bankers Assoc
citation OF America. spoke on The
Evolution OF n Bond Issue Mr.. Frank
lin said In Part:
The commercial banker ~ more or
less familiar with the finished product
offered by the investment banker. but az
its manufacture preparation for sale
he has little knowledge. Modern busi-
ness II complex and Is for the most part
conducted In large units. On account Of
its conpleNity is financing requires TIE
utmost care in order that both the
issuing company and the investing pub
lie may be adequately protected.
Years ~ a large part % our bus!-
ness enterprises were conducted a.
private ventures and financed By inhi-
vidual wealth. but the INDUS
trial growth Of the past generation has
brough, about an enforced decentral!za-
ton Of control and an appeal to the
general public for the needed capital.
with this growth has come AN ever
increasing supervision of business on
the part OF both state and Federal gov
ffI1IHfHNF uIu ~ 'oIlIi'N'As VI ai''
supervising commissions Franchises
once TO be had In p~erpetuity for the ask
ing are now only ohta.nable for limited
periods and under stringent regulations.
with these changes in business has
come about a change in the relationship
between the investor and his banker.
Instead Of being a mere broker executing
orders the investment banker now occu-
MES the position OF confidential adviser
TO his customer and. ssune llrg"
moral responsibility In making repr"s"n-
tations with regard to securities.
I'VE have had severe lessons IN 'e
losses resulting from !nexperient". ln"'i
Of foresight and haSty judgment. and |
do not hesitate 10 say that never before
has so much study been devoted 20 ~"
safeguarding of our investors and tho
adequate financing ~ our corporations,
I'VE are now being called upon -
solve new problems resulting FROM new
business conditions created by the war
II from our unique position In m"
financial world. and II Is imperative that
the utmost care bc used In making our
decisions in order mat this position he
not jeopardizcd"
The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-03-12
BIG wnLYs.0vERLAND GAINS.
Income of SlO.s7O.87s-a8.7s Per
Tent. Earned on Common.

The Wilys-Overland Company and
subsidiaries report for the year ended
December 81. 1915. a net income of sl0.-
s7O.s's before deductinG a reserve for
contingencies of $1,000. 900. After the
deduction OF s322.l65 for preferred divi.
dends this is equivalent tn 46.7s per cent.
earned on the S21. 900. 900 common stock.
After payment Of all dividends and
the deduction of the contingency reserve
"A surplus was left of S7.3ls.6iS. The
proht II loss surplus was S~l4.7e0,550.
During the year $250.000 was laid aside
for the redemption of preferred stock.
The last annual report OF the company
that can be used for comparison was that
FOR the year ended Tune 80, 1914, which
shows a net income OF s~5.s64,s5s. an
amount after the deduction Of preferred
dividends equivalent to 1851 per cent.
earned on the Common stock Of 500. 900.
900. The profit and loss surplus in June.
1914. was s5,5o2.234
The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-03-12
AMSTER ON ROCK ISLAND SUIT
Expects success in Fight on Brazos
Valley Contract.

y. l.. Amster. chairman of the minor
ity stockholders committee of the Chit
Rock Island and Pacific Railway
Company. mas issued "A statement in
regard to the recommendation OF coun-
sci for the receiver that suit to recover
s3.se4.0oo from the old directors Of the
company be dismissed.
He says that II should he explained
that the conclusion reached by the gen.
eral counsel had no relation 10 the suit
which the receiver Is about to begin TO
annul the Trinity and Brazos Valley
contract. Attorneys are OF the opinion
that while there might be some ques-
ton as to recovering the amount men
toned from the old directors there Is
no reason to doubt that the Trinity and
Brazos contract will be held Illegal.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-03-12
MDvALE STOCK INCREASED.
Stockholders Add 100000, 600 ia
100000. 900 CAPITAL,

The authorized capital stock ~ :rr
Midvale Steel and Ordnance Company
was increased from 800, OOo. 900 to
sl5O.o00,0 00 yesterday at "A spec!a! meet
ing here Of .he stockholders.
The additional capital stock will pro-
VIC in part for the reserve issue to cover
conversion privileges extended TO bond
holders under n proposed trust debrI-
ture to secure bonds not In excess OF
10000. 900. More than SIS pcr cent. of
the 1900. 900 shares of stock outs,nrd.
ing were represented at the meeting ard
no stock was voted against the increase
in capital stock.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-03-12
YEARS PROFITS AZ PER CENT.
Yale 4 TOwn~ Gains show IRE
mendOus Increase.

The report of the Yale 4 Townc Manu-
featuring Company for the G a ended
December 81, 1915. shows net profits Of
sl.9a3,7SS ns against s45l,S4S for the
year preceding, This is equivalent to
of the company.
The net earnings for the year were
81. 126. 269. as against $663.s9S In 1914.
and the surplus after payment of divi.
dends s1.374.Os5. as against s136.S50.
The final surplus was s6.04s.sca, ~
against ef,iS6,7s5 At the close Of 1914.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-03-12

Under the proposed amendment every
one OF these men would he derorted
a; the end of his term. A few specific
instances OF men free now. or eventually
TO be set free, were cited by Mr.. Woods.
Among them was that OF Vincenzo Alb
badessa, who has a record consisting OF
twenty-seven arrests for %blackmail. rob-
berry. assault. resisting the Roya, Police
OF Italy n violation of parole. lie ar
rived in the United States in May. 1905.
The New York police did not get his
penal certificate until July. 1908. two
months after he was exempted by law.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-03-12

JUDICIAL. DISTRICT. COuNiN "a,
BNoNN In the Matter Of tnc Arpii,. -
q III" ruel', Ssf.i,e Commission - t..
voting ca behalf Of The C,tN OF So, ,
Tor NE appointment II commissioners
iHn%."'s 81, ssI'". an t." c"%2ty, 49,, tny
.nenda'ory thereof ana supp.rm.u'
th"r"to' relative 10 acquiring an estate a.
uf easement in and to certain So.
SMr1r%FTi;'S ssvlEaM%1rEn pear and NE In,Sr;'''r" .,
CITY Of Ncw York. ,conlr.i forr",ha" ,,".'
pose OF the rons'ruc'ion n~u.ntcwnn,. ,..
,nrii transit rs!irond commonly ,n,... q -.
Ne the LEXINGTON AVENUE EDtuf.
S.,cut scrurate ana Final Report o. G.,
g Miller, Martin ie!salrr anl In,tn
Briggs, con,misn'oners OF App'a,,,L d.,
aIPo,n'sd IA tho nbov" entitled p'oo,'l.nr
February. isih, MAS ni"i ~ Ith' on.', o..
SuTiCE IS FvRrHfR GIVEN ,a.t %
second Separate and FINAL ,iCnort ,%"!,',>
Notice is F'rtRHTnEHt GIVEN n,o, ,,,.
second sersrat" and tinal RCror' "uI -
cour, OF IL. state 81 New 70 .'.,''"
Sr"rini n,rW; Part !, ,h.,|o'i ,or, ~
III. First %Juii:!ul District, al tn" aronI<
county Court House. at islst SIZE, ,nt
Third Avenue, IN tn" Borough % Tlr
Bronx. CITY OF New York. on the .3rd dry
OF March. 1915, ~ the opsnirG ~ court on
that day. and that then ana th,'c. ~ -
soon thereafter ns counsel can he !ea-i
thereon, n motion will be made that s.Il
report he confirmed.
Dated. New York, March 9. 1918,
ANA HARDY.
Corporation Counsel,
Municipal Building.
DovcnGh Of Mammalian,
New York Ci;".
The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-03-12
RAILROAD EARNINGS.
canadian Sortd

canadian Sortdrrn:
1915 changes
F.-.' vesE MARCIA. $40 zoo trc St1i 800
From Dytober !. Ia. b.. 500 Inc, 300 500
Ch..apoHk. AMI bajo;
. = week MIr,r.. s~al. 53T Inc 5000 aga
From JUS 1...... ~ rs. sot Inc. Il. 1OrU Gs
1hlrara. indianapolis and louisville:
ttr.' work MAJ. n. $lts.SOs Inc. s.a.S11
From July l....... a1i5,s," Inc To3.:iI
n.-vsr AM RIO G-aUl":
Fir pe.k Msr,h So" goo Inc. st2 100
F-'m luis i.-.....i7 lio,oco lrc. i."i5.OoO
Taxa and ltyifs:
First Vc-f Ma.tn So: $50 Inc. trGot,
From Jay l.......l 3.ii6.3I3 Inc. 800, 100
ruu tI;';
Fourth v,pk Feb. :9"i12 Inc. s4o.1Gl
Mont. .......... sol 2r1 In. 81. sGt
Ffnrl January i,... lis.5ti In. Ijl iO:I
The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-03-12
EAtrn Coles Arms Dividend,

Colts Patent Fire Arms Manufactur -
ing Company has declared an extra
dividend OF 10 per cent, in addition
10 the regular quarterly dividend OF
2A per cent. Thu dividends will he
payable April l to stock Of record March
10.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-03-12

notes issued, against which they hold
N7S.60o. 900 Of gold and over $l3.O00.o0o
Of paper. The banks show a total reserve
note circulation Of sl64. 500. 900 and ag-
gresate net liabilities thereon of about
$40, 200, O0O."
The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-03-12
BUSINESS TROUBLES.


\. SELWlTI 4 son. INC. manufacturer
o. sloaks and suits at 60 tas, Eleventh
street. mas made an assie ument to Frank
l.. schneider, A petition in bankrup,rV
.!s also MED against It by Irving cohen.
HiSs; H;m9n l. Goldman So. and Isaac
porntei on March 81. 1915, with capital
sAMuEL MlRosLAwsKy, dealer In dry
assignment 10 Henry Lesser. A petition
~ bankruptcy has also been filed against
him by ';arthncr Textile COMPANY Inc.,
H., Murrny ka'sner' sSa' and Ernest
observation-disclosures C.. Davis, Alfred
w. Davis and Alice Mabel Davis Wiikiu.
Mnrray's. dealers in dry goods at 5ssG
Eighth avenue. have MED a petition in
nlhss"Pt'y: with liabtl!tic' Ns;eia. OF
il,i7s, realized from sale OF stocks and
hxturos 6y the p%sslen"",
PAU. SABiN.. sslnsman, Of :0N Albany
dealer at acsoo Enirht,hh aven"c' has '1 hi"I
g petition In bankruptcy with liabilities
slS.ooS ana assets. $3.50 In 'hr"" lot, n,
Eliznhtth PARK; y, J The hernhellncr
is a creditor for 81. 500 on a chatt.l mort.
william ,rEENpnR. salesman. o, sss
East E!ghty.sevcnth street, has nlcd a
petition IN bankruptcy with Iiabiitics
t,525 and no assets.
Bankruptcy Schedules.
Saul. LEVY, dealer IN furniture and In
terror decorations. ?5S West Eighty first
street. has hled schedules showing lIa-
bliitieR. $s,sS and assets, ;3.I.0, consist
ins Of accounts. 5000 and cash. $4,000.
realized from assiRnnc's sale. he ALSO
had an automobile taken under a re-
plcvin.
ASSIGNMENT.
SAMUEL. HEIGHT. dealer In ciears, At 3its
AsreH L, Palmer.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-03-12

TIE smaller arrivals since March ! and
light stocks In the hands OF dealers re-
suited last week in q violent advance or
from &c. 70 1c. a pound on spot and
March. April and May positions were
also firmer. sympathc'ically. with ad-
vances OF &C. TO 81. n pound, but interest
was largely centred In July. August, Sep
TENDER and even October deliveries. Con-
su,ners and dealers bought literally for
shipment from the straits, resulting in
an advance of from Ic. to &c. n pound.
The London market was more active
and higher. the advance being &c o n spot
Straits and IS TO &c on standard. The
Singapore market advanced e. ~. up 10
Friday. with expectation Of "A further ad-
vance to-day in response TO the higher
prices in the English market.
Lead was active, strong and higher.
Heavy purchases OF special brands were
made for export. including about 1000
tons 10 Japan. Domestic manufacturers
of terne plate also bought heavily late in
the week. the result being an advance Of
$40 a ton in the local market The large
producers price was advanced only "
"A ton. ~ the close Of the week spot
March and April shipments sold at 1I0c.
To nc. at East 50. Louis. Previously
sales had been made At $500. To &c. a
pound. The London market was also
higher.
Speiter, after fair buying FOR a day or
so. was heavy, weak and lower for all
positions, with free offerings and less
demand, prices breaking 2i.c. a pound.
AT the close of the week spot was difN-
cult to sell at 11i.c,. March at l1i.c,.
April at l6i,c.. May at laAc. and June
at 1ti,c. The London market broke Ill
on spot and fl3 on futures.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-03-12
IlCk@; S; S.i:: 4 H.: "'s;:'
Bway. y. Y. q
PUBLIC MOTTO In.

re- RMlInAnurpr'singly low rates. ionN,i
oe''Wo SNlbcltcSic's I0urs, III. Nm:
The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-03-12

Here is the detailed statement for New
York, Boston and Philadelphia
RESOURCES.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-03-12
RESERVE BANK STATEMENT.

tn. statement Of the Federal Reserve Bank
OF New York follows
RESOURCES
The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-03-12
COPPER STRONGER
AFTER BAD BREAK
Buying Causes Recovery and
Prices Show Upward
Tendency.
GREAT JUMP IN TIN

with the resumption Of trading in
copper at London and the renewal OF
cable advices TO the United States on
the price Of standard copper on the Lon
don exchange, which was followed by
frcer offerings Of elcctrolytic copper here
by second and and By small producing
interests. resulting In a break OF I cent
TO ~ cent per pound on all positions
from April to October inclusive. There
was small disposition to purchase here.
Large consumers were we'll covered and
smaller meters were Disconnected by the
sudden and unexpected recession in the
market. but dealers took advantage of
the freer offerings n purchased quite
literally at prices ranging at from IS
cents to % cents per pound. The two
largest producing interests. however. re-
manned aloof. offering little or no metal
for sale and making practically no
change In their nomina asking prices.
Toward the close Of the week a
stronger tone was developed. in sympa-
thy with foreign markets. and improved
buying by sun as well as by deal
ers developed. There was a recovery
of about l., cent per pound at the close
of the week, with a strong tendency
upward. electrolytic being held at 27i,
cents for March and April positions and
at 2si, cents to 20 cents for later de-
llveries.
Lake Copper Hard to Sell.
Lake copper was difficult TO sell at
IS I, cents for nearby and at 21is cents
for future deliveries. but the market WAS
irmer at the close. with some improve
mem In demand
Al London American elec;rolyt!c was
nominally unchanged throughout the
week AT 1886 for spot. hut standard In
two days broke "a 5s. to "a los. fol-
lowed by a violent rise In the next
three days of IL IS. on spot and is on
futures. with some little increase in
trading.
While the commercial position OF the
market changed radically the statistical
situation remained practically M II was.
Production continues record breaking ut
the rate OF about So 900 tons per month.
equivalent to l15. zoe. 900 pounds. Melt
ing by domestic consumers Ia also at "A
record breaking rate. estimated NJ TO-
600 .00o to 1870. 900, 600 pounds. leaving
A. 1000. 200 10 $4,000. 600 pounds for ex-
port. Thus far the March foreign ship
men,s have been light. scarcely l..ooo.-
900 pounds. Heav!er shipments are eN-
pected later and more steamships are
available.
The restrictions placed upon business
in spot tin In the domestic market. be-
cause Of the British regulations. IL work.
ing some radical changes In the method
OF trading. As tin cannot he resold by
consumers or purchased except at higher
prices. they are giving more attention to
future positions. and much Of the metal
arriving now goes directly into con-
sumption.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-03-12

NhNfRnmenI.

SAMUEL. HECHT, dealer In cigars, ~ stt
AaroN Z. Palmer.
The Brattleboro daily reformer. (Brattleboro, Vt.) 1913-1955, 1916-02-21
TWO-THIRDS CROP
OF ICE THUS FAR
Ice on Frost Pond Not Thick Enough
for Second Cutting-Horses Broke
Through Saturday.

With about two-thirds as much ice
stored IN the ice houses of the Crystal
Springs Ice Co. as was stored in them
year ago the ice company considers
that It will be lucky to get full crop
this year. Nothing but continued cold
weather will help attain this result.
While men and a pair of horses were
engaged IN seraping the snow from the
Frost place pond Saturday the horses
broke through near the shore, where the
ice was not so thick as elsewhere. and
there was lively work for a time in get
ting them to land
The horses were forced to run until
they were steaming and then FIVE men
worked on them over an hour to pre-
vent them from feeling any i'll effects
from their involuntary bath.
1t was intended to cut the second cron
on the Frost place pond. but it was
found that the ice was only eight inches
thick and this is not thick enough TO
warrant cutting. When it reaches 10
inches the cutting will begin, and il
VIII be rushed to completion.
The Brattleboro daily reformer. (Brattleboro, Vt.) 1913-1955, 1916-02-21
SUBMARINE ISSUE
IN A GRAVE STATE
State Department Says Lusitania
Agreement Contains No Assurance
for the Future.

WASHINGTON, Feb 21.-State de-
partment officials said today they con
s1der the submarine issue with Ger
many still in grave state because the
Lusltania agreement, in the light of the
newly announced submarine policy of
the Germanic powers, contains no
assurance for the future.
The situation created by the an
nounced intention of sinking armed
merchant ships without warning after
Feb. 20, they say, was still in the alb
stract and was being considered as such
but the Lusitania agreement, as it now
stands, they explained, merely treats of
the past and although it gives all in
that respect for which the United
States has contended, officials do not
feel that it clearly guarantees against
another such disaster because, while it
refers at the outset to the assurances
that German submarines would not
sink unresisting liners, it does not re-
lterate them.
The Brattleboro daily reformer. (Brattleboro, Vt.) 1913-1955, 1916-02-21
DANES AGAIN URGE
WEST INDIES SALE
Want More Than 4,30O. 900. the Price
offered in 1901 by the United
States.

COPENHAGEN, Feb. 2I, via Lon
don.-The recent strike Of negroes in
the Danish West Indies has reopened
the old question of the sale OF the
islands to the United States. The gen
eral belief is that if the question of
the sale comes up again in Parliament
1t will receive a favorable majority in
both Houses, provided the Uni ed
states offers greater sum than that
offered in 1901, about $4,000, 900.
NJ. Hageman, the wealthiest planter
In the Danish West Indies, has inst
published here pamphlet on the
situation from the point OF view of
the most influential Danish residents
Of the colony. M. Hageman favors the
sale. In the pamphlet he recognizes the
efforts made b. the Danes to improve
conditions in the islands, but views
their future under Danish rule pessi-
mlstleally. He particularly points out
that the population is decreasing
alarmingly. Infant mortality, he says,
IS very high, having recently reached
o312 per cent The sanitary conditions
IL the islands are very bad, according
to Mr. Hageman.
The pamphlet says the economic con
dltions for the time being are fairly
good, as the sugar crop is excellent.
rms, however, is not considered by
~ Hageman as sufficient, and he ex.
poets return to bad conditions as
soon as the prices of sugar have fallen.
The Brattleboro daily reformer. (Brattleboro, Vt.) 1913-1955, 1916-02-21
40 HOURS DEVOTION
BEGINS WEDNESDAY
Rev. Father Rand Will Be Assisted bv
Several Visiting Priests at Roman
Catholic Church.

The annual 40-hours devotion service
will open Wednesday morning in St.
Mlehael's Roman Catholic church with
high mass at S clock. Confessions
Will be heard Wednesday afternoon at
$50 o clock and in the evening follow
ing the benediction. On Thursday
there will be masses at 5. 7 and s
0 o'clock in the morning with confes.
slons for all the children of the parish
after the o'clock mass. There will
be confessions Thursday afternoon at
go O'Clock and in the evening fol-
lowing the benediction. The service
will close with masses Friday morning
at ., and s o'clock.
Rev. Father j. P. Rand will be as
sisted by Rev. Father shannon of
Bellows Falls, Rev. Father Cullion of
Ludlow, Rev. Father Delaney of White
River junction and Rev. Father Long
of Montpelier.
The Brattleboro daily reformer. (Brattleboro, Vt.) 1913-1955, 1916-02-21
DELINQUENT TAX
PAYERS TO VOTE
Montpelier Disregards Opinion of At
torney General Barber on Fran
chise Rights.

MONTPELIER, Feb. 81 = Despite
the Interpretation given the law by At
-torney General Herbert G. Barber of
Brattleboro, the Montpelier board of
civil authority at meeting held Satur-
day evening voted to have two separate
check lists and TO allow delinquent tax
payers and those who have moved here
from other towns TO vote on the two
statewide questions, the Perry LIQUOR
referendum and the primary referen-
DUN.
Action was taken after some discus
sion following expressions made by
members of the board whose opinions
differed. Two members of the board.
who are lawyers, Harry c. Shurtleff and
State Librarian George Wing, were firm
IN the belief that regardless to whether
or not a freeman had paid his taxes he
had constitutional right to vote on the
statewide questions.
SlXty-slx names were added to the
lists, the majority of whom took the
freemen s oath for the first time.
The Brattleboro daily reformer. (Brattleboro, Vt.) 1913-1955, 1916-02-21
TWO DANISH SHIPS
SEIZED BY GERMANS
Cruiser Captures Cargo Vessels and
Sends Them to Port in Convoy
of Trawlers.

LONDON, Feb. 81. - despatch to
Reuters Telegram company from Copen-
hagen says the East Asiatic company s
motor steamer Bandon, which left Co
penhagen yesterday morning. was seen
returning in the afternoon, passing
hIslnor with German flag hoisted and
escorted bv a German trawler.
A despatch to the Exchange Tele
graph from Copenhagen says the Ban
don was bound for Siam with niece
goods when captured in the Cattegat bv
q German cruiser and was taken to
Swindemuende.
The, steamer Bergenhus, bound from
Copenhagen for Liverpool, has been
taken into Stettin by an armed trawler
Shipping records shows the Bandon to
be, motor vessel of 3 3,4s1 tons. She was
built In Glasgow in 1909, and is of Dan
ish registry.
The steamer Bergenhus is Danish
vessel of l,l07 tons. Her home port is
Copenhagen.
The Brattleboro daily reformer. (Brattleboro, Vt.) 1913-1955, 1916-02-21
APPARENTLY NOTHING
OF VALUE WAS TAKEN
Miss Miriam Howard Came from Barre
on Being Notified of Burglary in
Absence of Parents.

So far as could be discovered by Miss
Miriam Howard, daughter of Mr.. and
Mrs. Frank II. Howard of 25 Putnev
road, the burglar who entered the How
ard home which has been closed for
some time, did not take anything of
value Apparently the greater part of
has search for valuables was confined
to one of the rooms on the second
floor, where he left articles strewn
about in much confusion.
Mr.. and Mrs. Howard are spending
several weeks in the South and Miss
howard is teaching school in Barre.
She came home Saturday after neigh
bors had called Police Chief George
Wilson to make an investigation. The
nelghbors became suspicious that all
was not as it should be when they no
tlced that the curtains at some of the
windows had been lowered after the
family had left the house.