New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-28


underwriting syndicate for the $780,
100000 British loan was closed yester-
day morning. Allotments were made
by j. p Morgan e. Co., largely on the
basis of their participation in the
s250,000,000 British loan sold here in
August and the Anglo-French loan Of
year ago.
The Week In Trade.-Disproport
between demand and supply is more
pronounced than at any previous time,
and the rise in prices continues apace,
according to R. G. Dun & Co. Widely
divergent lines exhibit steadily increas-
ing strength, and though most COM
modities are already at an extreme po-
sition, there is no sign that the crest
has yet been reached. In steel and iron,
in textiles, and in other branches the
esgerness of buyers is regarded as
foreshadowing still further advances,
the growing scarcity of materials and
products impelling urgent efforts to
cover far distant requirements.
Commercial failures in the United
States. as reported by R. G. Dun e. Co.,
are 289, against 297 last week, 277 the
preceding week, and Ss1 the corre-
spending week last year.
Federal Light and Traction.-Inter-
ests connected with the Westinghouse
Electric and Manufacturing Company
and Samuel insult, of Chicago, have
acquired substantial holdings in the
stock and other securities of the Fed
eral Light and Traction Company. This
has resulted in a change of affiliations
Of the traction company from the Gen
eral Electric Company to the Westing-
house company.
Directors, at a special meeting,
elected Guy E. Trip, chairman Of the
Westinghouse Electric and Manufact-
uring Company, Calvert Townley and
Samuel insult directors Of the COM
pany. There is still one vacancy in
the board.
Arson W. Burchard, vice president
Of the General Electric Company;
Harrison Williams, f. l.. Dame and
r. +. Breed have resigned from the d.
rectorate.
Rock Island Plan Not Ready.-The
joint reorganization committee repre-
senting the stockholders and the
debenture holders held long meeting
yesterday afternoon and discussed re-
organization plans. A banker who was
in attendance said that while favorable
progress was made publication of
plan was not imminent.
Guaranty Trust Promotions.-N. d.
Jay, manager of the bond department
of the Guaranty Trust Company, has
been made a president, and L. S.
Critchell, assistant secretary, has been
appointed manager of the department
of publicity and new business. Mr.. Jay
came to the Guaranty Trust Company
a little over year ago from the First
National Bank of Milwaukee, where he
was vice-president. Mr.. Critchell be-
gan his banking career with the Metro
politan National Bank Of Chicago.
New Bank Directors Chosen
Thomas Williams, senior member OF
Ichabod 7. Williams g. Sons, has been
elected a director of the United States
Mortgage and Trust Company.
Reserve Bank EIection.-The commit
tee Of the National Bank Section OF the
New York State Bankers Association
and of the New Jersey and Connecticut
Bankers Association, appointed to
make recommendations to member
banks of candidates for directors of
the Federal Reserve Bank of New York,
have suggested William Woodward,
president of the Hanover National
Bank, for reelection as Class A d.
rector. As candidates for the Class
dictatorship now held by Henry r
Towne, the committee submits the
names of Newcomb Carlton, president
of the Western Union Telegraph Com
pany; Eugene II. Outerbridge, of Har.
vey & Outerbridge, and Mr.. Towne.
Permanent Board for 'Frisco.-Ths
permanent board OF directors of the
rcorganized St. Louis e. San Fran
cisco Railway Company, as announced
yesterday, follows: F. w. Allen. p, N.
Brown, Henry Ruhlender. ]. w. Lusk.
James Speyer, Frederick Strauss, +. V
r. Thayer, W. B. Biddle, Murray Garlic
ton, Samuel Lazarus, C. II. Sabine. A
l.. Shapleigh, Festus J. Wade. M T.
Wilkinson and W. C. Nixon.
Mr.: Ruhlender Is chairman OF the
board. with Mr.. Nixon as president and
Mr.. Biddle first vice-presidcnt: +. d
Levy. second vice-president: N. M. Rice
third vice-president, and C. w. Uillard
fourth vice-president.