New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-12
New York

New York, New Haven & HARTFORD
President Elliott has just sent TO the
directors a report for the fiscal year
ended June 30, in which he says that
every property in which the company
is interested shows the largest gain
in net earnings in its history, except
the New York, Ontario g. Western, the
Hartford e. New York transportation
Company and the Rhode Island Com
pany. He also points out that the New
Haven paid off s6,140,lS0 of its floating
debt and spent S4,352,l53 for improve
ments and equipment, a total OF SlO,-
492 1888. or approximately s per cent on
the outstanding capital stock. Presi-
dent Elliott added: "All earnings are
being put back into the road in order
70 bring il up 10 the necessities of the
business requirements of New England.
1t will be necessary for the company
to expand within the next FIVE or ten
years from s20000,0OO to 100000 900
in order TO equip the road with the
necessary facilities, motive power,
yards, terminals, station improvements,
etc, to meet the growing requirements
Of New England. The floating debt of
the company is $4,000 600, including
$4,000 900 three-year collateral gold
notes of the New England Navigation
Company, maturing May /, 1917"
Canadian Trade. - Dispatches to
"Dun's Review" from branch Offices in
the leading cities of the Dominion Of
Canada indicate that general business
fully maintains its improvement over
last year, with especial activity in the
industrial field. In Montreal retail
trade is affected somewhat by the alb
sence of many consumers from the
markets, due TO vacations. There is no
material falling off in collections, how
ever, and failures are few. Footwear
manufacturers have been busy all
summer on fall orders, while cotton
mills are actively employed and are
being pressed for deliveries. At Toron-
10 business continues in good volume,
considering the season, and prospects
are regarded as encouraging. Gross
earnings of Canadian roads reporting
for four weeks of July show an in
crease of soc per cent over the same
period of 1915.
y. Lorillard Company.-Directorate
has been increased from nine to ten
members and r. L. Henry has been
elected a new director.
Advance Rumely Company.-At the
suggestion of Eastern bankers inter-
ested in the reorganized company, Lu-
cius Teter, president of the Chicago
Savings Bank and Trust Company, has
been elected a director.
Check Collections.-List Of state
banks, in addition to national banks,
upon which items will be received by
the Federal Reserve Banks for collec-
tion and credit under the new check
collection plan is being distributed by
the Federal Reserve Bank.
Building Returns received by
"Dun's Review" from eighty-seven CEN
tres in the United States show that
during July permits granted for new
construction involved an expenditure
Of s1O3, 0l6,666, an increase Of 1873 per
cent as compared with the same period
of 1915. It should be pointed out, how
ever, that the total last month was
swelled materially by the rush 10 file
plans in New York in anticipation of
the ordinance limiting the height OF
structures in this city. The combined
aggregate for the metropolis was $780,
526.I44, against Sl2,246,4o9 in the pre-
vious year, Manhattan alone supplying
over S45OOO.OO0.