New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-09-02
New York
100000.

conditions. R. G. Dun & Co. say to-
day:
"Fmbargoes on freight shipments
and some cancellations Of contracts pc
cause Of uncertainties as to deliveries
due 70 the threatened transportation
tie.up. characterized the situation dur
ING the week. Yet in spite Of these
conditions business made further sub
staptial Roadway, new projects IN most
instances being undertaken with sus-
tanned confidence. Current buying con-
tinues noteworthy, though ordinarily
II might be checked, and divergence be-
tween supply and demand is still
factor Of strength in many markets.
Prices in leading lines tend upward
steadily, but while the high costs
naturally cause some hesitancy con-
sumption is not lessened perceptibly.
Bank elearings this week are 25.l per
cen, larger than last year at centres
outside New York, while gross earn
incs Of railroads reporting for three
weeks Of August show gain Of las
per cent?
"Brsdstreet's" will say:
Concern over the beclouded railway
labor situation is widespread, and the
placing Of embargoes on freight has
caused considerable unsettlement In
practically every channel, but the very
fear of strike seems 10 have devel-
oped an onrush of orders as well as
hurry calls TO ship staple merchandise
for which contracts were placed earlier
in the season. Thus an already active
situation has been further stimulated
By this belated effort to stock up, and
in consequence railway congestion max
Ing factors are in evidence, even though
the strike probably will not eventuate
on lis due date, September 4. 1t IS
however. certain that the emoargoes,
even II only temporary, will work much
damage 10 perishsble commodities"
Canadian Northern Railway Certi-
William a. Read & Co. an
nounee that temporary certificates for
the Canadian Northern Railway per
cent secured notes, dated July TO-
1916, may now be exchanged for
eshnitlve certificates at the Office Of
ii. Guaranty Trust Company
Western Pacific Directorate. The
Western Pacific Railroad Corporation
has been organized with the election
Of these directors: c. Ledyard Blair,
?. Il. Ecker Alvin W. Krech, A. NJ.
Hunt, H. w. Martin, Starr J. Murphy
William Solomon and r. B. Young.
This corporation is the holding com
pany controlling the Western Pacific
Railroad Company, the operating com
pany organized under the California
laws, which has its own board Of direc-
tors.
Commercial FSllures.-This weeks
commercial failures in the United
States, as reported by r. G. Dun &
Co., are PIT, against 273 last week,
s5z the preceding week, and 329 in the
corresponding week last year Fail
ures in the month Of August totalled
1894, involving $2Ol28,709. This
4 compares with 1,207 suspensions for
NiSi7Hs9 in the previous month,
4 l227 for 81 929,3H in June, l482 in
Nay for sisAss,43s. and 1895 in Au-
gsst o. last year for s17,733,552.
Municipal Bonds in August
though the bond business usually is
comparatively quiet during August, a
ss.llsh sentiment caused municipal
bonds % advance In value 20 a con-
Aesrsble extent in that month Of this
| issr, according 20 "The Daily Bond
l Esyer Of New York" This wss par
he1sriy true Of New York City issues
rtieh reflected the optimistic feelings
bond dealers. who attach great i'm
rFtsres 70 the expected raising by
sH o. Congress Of the rates Of the
"ssfal income tar. from which levy
hsnlslpal bonds are expressly exempt
9a's OF new long term municipal
Sst1s IN the United States In Angus,
Walled tz5,2li S9I, as compared with
'<|<Is%D5 IN the same month year
go and t5,zls,lO2 in August. 1914
Minneapolis 4 -. Louis Railroad. Dol
'as following new directors have been
ee.di Charles Hayden, chairman,
l.. Brown, prssidsrt; T.. " r.
mayer, John 4 spoor J. s. Bseh,
i S.''hsl siosum. Of the Russell Sage
aNi D. -. Hoy.mbre and Thomas
''s'n' In addition 70 Newman Erb
~ who rssigned as directors were