New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-02
New York

The Railroad LABOR dispute. 4.
Johnson, president of the Norfolk q
Western Railway Company, issued a
circular letter to the employees of the
road yesterday, in which ne said: IF
the demands Of the men in train ser
vice are just and fair to all employees,
to the public and to the owners Of the
property and if there is no desire TO
disturb their peace of mind, TO lnhIct
upon them any Inconvenience, there
should be no hesitation about accept
ing arbitration to settle these differ
ences. The appearance Of employees
and their families, the condition OF
their homes and the rates OF pay which
have been agreed upon in the past IS
tempting to cruelty labor. The railway
companies have offered to submit these
differences 10 the Interstate Commerce
Commission for settlement or to arbi-
traton under the Newlands act ! wish
to repeat my caution to you to consider
carefully and take good counsel before
you decide you are willing TO infict
upon yourself, your families, your COM
pany and the public the want, suffering,
inconvenience and financial disaster
which must follow strike of trainmen
in this country
Record Railroad Earnings. - Gross
earnings for all steam roads, big and
little, within the United States, were in
excess Of $500, 100000, whereas in the
busiest previous year, 1913, they were
S3125,000,000 For the first time net
earnings after deductlng taxes, desig-
mated by the statistical prestidigltators
Of the Interstate Commerce Commits
sion as operating income" exceeded
81 LOCO 100000. These totals, naturally,
were rolled up by greater mileage Of
railroad than ever existed before, but
gross and net per mile also reached
decidedly the highest figures IN the
countrys history, according to Dow,
Jones & Co.
Cincinnati, Hamilton & Dayton.-A.
Iselin (, Co. and James y. Jarvie, VINO
announce that they own or represent
about $4,000 general mortgage bands
Of the Cincinnati, Hamilton Dayton
Railway Company, are asking the CO.
operation Of other holders to secure an
enforcement OF an agreement OF the
Baltimore d Ohio Railroad Company
either TO purchase or 10 guarantee their
bonds. Il is claimed that during the
month of July the company failed TO do
this. There are still undeposlted some
thing less than S2,OOO,OOO OF the bonds
81. Louis Southwestern Raiiway.-At
a meeting of the board of directors OF
the St. Louis Southwestern Railway
Company yesterday Edwin Gould was
elected president of the company, 20
succeed +. r. Britton, deceased. j. NJ.
Herbert was elected first vice-president
in charge. Mr.. Gould remains chair
man of the board Of directors.
Gold at Assay Ofiice-Business in the
mechanical departments Of the Assay
Office was resumed yesterday, after be-
ing suspended since June 80, when the
refining plant was shut down while
the annual inventory was taken by IN
spectors from Washington. During this
period S67,OO0,OO0 in gold has piled up,
waiting to be put through the rehning
process. Officials said yesterday that
there has been no lull in the deposits;
that gold has continued to pour IN in a
steady stream. The amount on hand
includes foreign and domestic ship
ments. covering the last shipment from
England for J. p. Morgan & Co.,
amounting 20 S20000,000, although ru-
mored when received a few weeks ago
to be s44,00o,00O.
Foreign ecur.ties.-Securities which
arrived Monday on the Rochambeau
were taken yesterday 70 the Bankers
Trust Company. Officials would not
say where they were from or the
amount, but they filed fourteen huge
cases. They are said TO have come
from France for the account Of j. ?.
Morgan & Co.
National City Bank.-Directors OF the
National City Bank yesterday elected
P. A. $. Franklin a member OF the
board to succeed p. A. Valentine, re
signed.
Branch Bank at Petrograd.-Permis-
sion has been granted by the Federal
Reserve Board 20 the National CITY
Bank of New York TO open branch at
Petrograd Russia. and establish sub
branches throughout Russia.