davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1916-05-07
The Weeks Programme.

The new business week offers hun
Der OF important Developments, roluIs'
and otherwise. OF course, the prime,
pal thing on which the Street VIII Ss.
with greatest interest will be Wasnlns
toms official opinion Of the Gerins.
note. Aside from that the goyernme..
crop report. as Of May ]. out to-ihg.
low. will prove OF unusual interest ". y,
asmuch as il will indicate how iau'-
improvement, IL any, there has De- s,
in the winter wheat crop since w. ,,.
April report showed the exeeptlo5nsS'.... I.
low condition OF 1873, against go y
1915 and 956 in 1914. The aoSndon.s or.
area is expected TO be large. Priy'I@
estimates Of the new crop have IL.
Gated but small improvement durl,iii
April. Following the crop bulletin W.. W..
come the April untitled tonnage s'AD !.
ment Of the Steel Corporation -,
Wednesday. which, according 70 10 h.
preliminary estimate. will reveal 81 N
crease Of at least 100000 tons 10. "a.
would bring the total close 70 me ~
900 .OOO-ton mark. az the report e' N
March 81 disclosed untitled orders v
B 9.33l ,0Of tons
New-York tribune., 1916-05-07
Traders Conclude from
the Markets Action That
Crisis Is Over.
BIG FOREIGN COPPER
INQUIRY REPORTED
Railroads Profit from Pr9 ctic,
of Economy-Banks In Line
for Preparedness.

II any vestige OF doubt remained 4
the mind Of speculative Wall Stree
whether the German response wolN
prove acceptable TO Washington i an
peared TO have been completely r.
moved overnight, judging from yes,er
days swift rise in security price,
The vigorous action, Of the general mar.
ket indicated rather clearly, trsdsu
said, that the hasty conclusion reaches
on the day before that the note, a..
though unsatisfactory, would probs5ly
be accepted. had been strengthened b.
the later press dispatches and con.
ment. The continuation Of the adyane.
ing movement in prices even outd.d .h,
rapid-fre recovery on Friday. And
what was more, the upward tendency
continued throughout the brief two.
hour session with scarcely a setback
Stocks started the day to 3 points u,
in many instances, and closed az IN.
top. Purchases at the opening wen
largely attributed to short covering
but added to this demand was the a..
emulation by spectators, who had
apparently been waiting for the nop
before entering the market The buI
of the business was, Of course, speea'
lative; nevertheless, il was impressive,
as pointing to confidence on the pa1
Of operators that one more crisis Eai
PASSED into history.
New-York tribune., 1916-05-07
MONEY AND EXCHANGE.

FEDERAL RESERVE DISCOUNT RATE For
paper maturing IN ten days or less. per cent; up
20 ninety days. per cent.
GAIL MONEY during n. week ranged from :
10 per cent
TINE MONEY during II. week va, firm Ra'e..
%, per ceai fnr sixty days. ninety DAYS and four
months. and ga aSb per cent for h5e and six
McLth,.
MERCANTILE PAPER vas steady Ruling rates.
9s2i. yer cent.
CLEARING HOUSE TRANSACTIONS. 80 Ii
changes. ti6i 2i3.l5l. balance So 500 so Tie
sub Treasury vas creditor 20 the amount o t37i 73e
SUB TREASURY New York BANKS lost 10 tls
Sub Treasury 81 2i5. 900.
FEDERAL RESERVE DISCOUNT RATES ELSE
WHkRE.-Boston. for ten days. , per cent. ten
70 thirty days. 81 up 10 ninety days. 4 Phiis-
delphis ten days. per cent: up 10 ninety days.
Cleveland. ten days. 3is per cent: up 10 sIv
days. e. siIty 10 ninety DAYS. fi1 Richmond. up
70 ninety DAYS. per cent. AuAnta. W n ninety
-. Louis. 3 ard per cent. Minneapolis. - TO
sixty dsJs. r~r cent, sirty 20 ninety days. a..
s.y ' ~ S p. d per e Si ssa5 sam risn.co 70 T. as 5
d,ys. per cent. thirty dBs. 81 thirty 70 sIy
days (: sIty 10 ninety dsys. ~
DOMESTIC EXCHANGE st louis. ,Ichans.
IS discount hid. Toe discount Asked. Chicago. tI-
chsnsc. 20 discount
500. balances s. e05 400. Chicago. eIrhsuges SIS
7Is as. hslAnces !So7s 3Zj Philadslphia. sI-
exchanges s. col. balances fiis.i0i.
SILVER MARkET New York quotation. rs. e.
. decrease a ~ Mexican silver doilars 5ei, a
s?ae Bar silver IN London. 50 i5-lsd. a ds-
FOREIGN EXCHANGE The chief featur. o'
the week sLs the decline In sterling rates. demand
droppins under as for the nrst tine IN two
months closing { The bottom a. Us 1915. Msrs
vere s,rons on 'riday. advancing 70 IS but eIsed
Of ye ierdAy French bills moved lower Range Of.
demand stefrns .os Tie week LIeA SLI3 IaIs.
New-York tribune., 1916-05-07
Copper Market Strong.

A representative Of one OF the iarg-
copper producing companies was asked
Yesterday if he believed the report
that the British and French govern
ments had made inquiry in this marSei
for l5O.000,000 10 200,000,OOO pounds
Of copper for delivery in the first quar-
ter of 1917. Don't you know he re-
piled, that anything is believabI'
under existing conditions in the meta
markets." Confirmation Of the 10
mored inquiry could not be obtained
although other copper interests said
they would not be surprised n furthe'
big purchasers of the metal for futuu
delivery were negotiated. Coppe'
holds very strong. with September de
livery at % cents "A pound and spo
copper at 30 cents and better. One cs
innate in the trade puts purchases OF
corner. domestic and foreign, 300 ti'
last month or two az 700,0Oo,0o
pounds. Copper in London was yer
strong yesterday, at $50 ton 70.
electrolytic. equivalent 10 nearly -
cents a pound, figured with stcr.n'
exchange at S4.76 to the pound
New-York tribune., 1916-05-07
Railroads Economizing

Economies forced upon the RAILROADS
ir the period of lean earnings aro prov
ing important factors in making io'
higher operating income A. the pres
cnt. Prosperity has apparently no.
blinded the roads 10 the necessity OF
continuance of the practice of econ
omy. Many roads are urging upon theH
omy. Many roads are urging upo'
their employees greater economy p
the use Of repair materials OWNS
TO the general price advance
The Southern Pacific only this wee'
issued orders requesting the praci 6
Of economy along this line. The bai'
timore g. Ohio has long been an ady,o.
cate of saving the pennies through w'
practice Of conservation. This CON
pany discovered not so very long agg,
that it could save $50 on every oe
freight car formerly consigned 10 'h'
scrap heap. meaning saving in a yeH
of some $4,000. Instead OF LABELLING
old cars "scrap" they are now taggsS5
"for reclamation" and the lumber az.
metal that used 70 be thrown away S''
carefully worked over
New-York tribune., 1916-05-07
Prices Go Higher-Beliet
Crisis with Germany Is
Past General.
BUSINESS ACTIVE;
CLOSE AROUND BEST
Large Gains Overnight-Protit
Taking Brings Merely a
Brief Reaction.

Confidence that our authorities would
be able to find in the German note SUI
ficient excuse for avoiding an open
break, which had caused the rapid re-
covery the day before, sent prices
higher yesterday. Active issues ended
with gains Of from to 6 points or
more after trading that brought the
two hours total TO not far below 6OO,-
600 shares. While no announcement
came from Washington that the threat
Of withdrawing concessions should we
fail to make England modify her block
ade would endsnger maintenance OF
friendy relations, news dispatches indi'
Gated that there was little question at
the capital that this would not prevent
acceptance Of Germany's assurances.
Those who had not covered their
short commitments the day before
hastened 70 repurchase, and new specu-
lative accounts were opened for the
rise. Overnight advances Of from a
fraction TO points resulted, win
further gains Immediately following
Profit taking soon caused some setback,
and for a short time the market hesl-
tated. Before the close, however, the
rise was resumed. The late advance
was generally confined 70 the more
speculative issues. Until the dlplo-
matte situation is definitely defined, IN
vestors maintain an attitude OF caution
The railroads. which had been COM
paratively steady the day before, gen.
orally made little movement yesterday
though Reading, Union and Southern
Pacific, Lehigh Valley and Erie made
maximum gains of a point or more
Mercantile Marine certificates con-
tinued active at higher prices. The
motor stocks were strong, the coppers
benefited by rumors Of further large
INQUIRIES from abroad, and Mexican
issues seemed to find news from the
border and beyond encouraging. United
States Steel on fairly large amount
of business for a Saturday, got up more
than a point to above S4,, closing at Its
best
During the week. as was shown in the
actual bank statement. there was a con-
siderable reduction In loans, the de-
crease in this item amounting to more
than $4,000 OOO Demand deposits
were reduced more than S46.000,0OO. a
loss of more than S9,000,00O in reserve,
however. was more than the decreased
requirements could counteractand sur
plus went still lower, at little undes
500. 900, standing more than S2OOO.-
900 below that of the week before,
First of the month requirements had
less e do with this cutting down OF re-
serve holdings :hap the demand OF the
interior for funds.
Though banking support was reported
in the market for sterling exchange
rates were trfe under the lowest
previously reached on the present de-
cline, sight drafts on London selling at
under 4.757s for demand Shipments
from this port, according to daily fig
ures announced last week, are rising,
the total at over Sal 100000 being about
sl1 ,000,0 900 above that Of the week be
fore. Weakness of sterling is ascribed,
however, TO reduced sales of securities
here for British account rather than 10
larger shipments to be financed.
New-York tribune., 1916-05-07
All for Preparedness.

Wall Street banking houses, with
scarcely an exception. will be strongly
represented in the preparedness pa
rade on Saturday. Many banks and trust
companies, in addition to lining Up
their employees will have their eXecs.
tive officials in the parade. So interested
have the banks become in the move
ment that an attempt was made last
week 10 have the New York Clearing
House open an hour earlier on Satur
day, so as to clean up the business
that much sooner and permit bani
employees to leave the district earlier
Owing TO certain clauses in the Clear
ing House constitution this could no
be arranged. However, all banks and
trust companies will make every efou
to get the days business done and ou'
of the way by noon. Many institutions
are requesting their clients 70 clea'
up all matters on Friday, or very earll
Saturday morning. Several Of the o's
banks plan 10 entertain their employs
at dinner and cabaret uptown after ne
parade disbands.
New-York tribune., 1916-05-07
BUSINESS TROUBLES
P,tltIons In Bankpptcy.

I SPENCER CROSBY co. manufacturers Of
l.dies' hats AZ West 31th ST., by the 'ollosing
rredito-s. scully Bros. & Co. Inc. Sl9s. Fried
man & Distiilator s2f5 and Mildred Satlien
sSl Judge Mayer has appointed Samuel II. Lum-
nj, receiver IN 81 900 bond.
HERMAN + SCHAER. proprietor OF cafe and
resfaursnt 81 1856 West 42d St. BY the following
creflfoFs Henry Fuchs. 81 SEQ. Carlos Garcia. sss
and Charles Meisenzahl SI0T.
PHOTOS BOONDAS. a cook. residing al 1895
Boston Road has fled a petition In bankruptcy
with liabilities si4jl AID no assets.
ETCENE r LAMBERT. doing business under
the name os Leader Importation Co. a, 2i0 West
I1th - has hled a petition IN BANKRUPTCY. with
liabilities sli.24s. Of which slill3 are unse
cured claims. and assets 5000.
Schedules.
ILLUS BERGER dysoods dealer at z53 9Th
AZ has q ed schedules in bankruptcy. with III.
biiifies s. 500 and assets $500
HONfAN n. BEALES. engaged in the plumbing
and heating business Al 81 CliT st. has filed
schedules IN bankruptcy. with liabilities SIS. 0l2.
u which sl5.s5l are unsecured claims. and assets.
81 800. represented by debts due On open sccount
Aljj.
FRENCH MIRROR WORKS. INC, plate glass
dealer. a. 605 West 55th 81. has assigned for tho
benef; of creditors 10 Charles Meinreb. The con-
pany was incorporated in 1915.
NJ COHEN 4 SONS. manufacturers Of knee
pants a. il9 B.eec6er 81. composed u Mar.
George and Benjamin Cohen have assigned 20
Samuel Dubertein. The deed OF assignment was
signed By Benjamin Cohen only.
New-York tribune., 1916-05-07
PROPOSE MERGER
In READJUSTMENT
Union Bag and Paper Plan
Also Makes Drastic Re-
duction in Capital.

The stockholders committee, August
Heckscher, chairman, appointed 10
work out capital readjustment of the
Union Bag and Paper Company, has
submitted plan of reorganization TO
the shareholders which recommends
that the company be merged with one
or more corporations owning agencies
of the parent concern.
IL is proposed that the consolidated
corporation shall have Sr,000,G00 z per
cent cumulative preferred stock con-
vertible into common at par, the amount
of which is to be S10000S00. OF this
sum Ss,000.000 will be issued to the
holders of the sll 100000 preferred now
outstanding, including the dividend ac-
emulation. The remaining S2,000.0oO
will be offered TO the common stock
holders for their total holdings Of sle,-
100000.
The s1,OO0.OOO new preferred stock,
or debenture notes issued in lieu
thereof, will be offered TO common
stockholders at par in amounts pro-
portionate TO their holdings. No as
sessment or payment will be imposed
on any shareholder. Securities nc;
taken under the plan will be disposed
of as the directors may determine. As
sents to the committees plan must b.
filed by August /.
A circular issued by the reorganiza-
tion committee estimates the total value
of the company's assets at Sl3,799,3l4.
consisting Of mills. factories, wood
lands, etc, S6,70O,0O0; stock of the ST.
Maurice Paper Company, Ltd, $3.50
600; current assets as of January 81,
less current liabilities. sl.599,3l4, and
patents, processes, goodwill, etc, ST.
$50 900. IL is pointed out that earnings
in the last five years have ranged from
a surplus of S6l7,75O in 1912 to deficit
of S70,679 in 1916.
New-York tribune., 1916-05-07
PUBLIC UTILITY NOTES
General News and Earnings OF various
Corporations.

Statistics representing the electric
generating and distributing Industry OF
the country for February, as compiieo
BY "The Electrical World gave con-
solidated gross for the month OF S3s'-
$50. 900, which was s4,550,00o, or nearly
IS per cent, higher than in February OF
last year. Output Of stations was j.
73O OOO. 900 kilowatt-hours, an increase
of 3g5 .0O0. 900 kilowatt-hours, or about
80 per cent over the same month III
1915.
Northern States Power.
According to the March report OF the
Northern States Power Company, earn
inps maintained their usual ratio OF
increase during the month, as compared
with 1915. Gross operating revenues
amounted TO s497 $50, a gain OF 1913
per cent, and net earnings OF S26o,yoo
were 1922 per cent better than IN tne
wear preceding. For the year ended
March 81, gross earnings totalled so,-
3ss. .444. an increase of 1917 per cent,
which net was increased s456,534 TO S3,,,
OO5, ,702, or nearly l8 per cent. In April
seventy-seven customers were added 70
the company's list of preferred stock
holders, with total holdings OF s62,oOO
par value, which brings the total num-
ber of customer-sharehold up 70 800
since the stock was first offered in the
territory served by the company's sub
s;,iii,a. les in June, 1915. The total par
value Of the stock held by these cos
toners is s492,400
Asaociated Gas and Electric
The annual report of the Associated
Gas and Electric Company for the year
ended December 81, 1915, with results
of subsidiary companies included
shows gross earnings from operation
totalling s646,6l6, as compared with
S631 ,548 for the year 1914. Net earn.
ings after expenses for operation and
taxes we're s262,174, against S232,788 in
the year preceding, and gross income
for the year, after including interest
and dividends of associated company
totalled S284,617. Expenditures for in
terest requirements, sinking fund
amortization of debt, etc, of subsidiary
companies were S76,154, leaving bal
ance available for the Associated Gas
and Electric Company OF s2OS,462
againse slS9,751 year ago. Surplus
for the year after dividends on the
preferred and common stocks, interest
charges, etc, amounted TO s26,698, COM
pared with S29,566 at the close of 1914
During the year 100000 was expended
for improvements and betterments to
the plants of underlying companies
and S30,529 for maintenance.
New-York tribune., 1916-05-07
Cotton Exchange May Open Earlier

A movement is unGer way from Lon
don TO have the New York Cotton Ex-
change open for business at $3.50 a. ~
instead of 10 o'clock. Sentiment IS
being sounded through private cable
advices to New York firms. The agita +,
tion favoring an earlier opening IS SAID
TO be due 70 the expected passage by
the British Parliament OF the light saw
ings bill, by which England's clocks
will be placed back one hour.
If the Cotton Exchange opens AZ 9:oO,
New York time, Liverpool will then re-
main open until 4:3O p. m, ne" Eng
Iish time. instead of 3:3O.
New-York tribune., 1916-05-07
MOTOR co MERGER DENIED
w. c. Durant Calls Detroit Rumors
pure Fabrication

W. c. Durant, president Of the
Chevrolet Motor Company, yesterday
branded as false press dispatches from
Detroit that he is TO become the head
of a 5000, 100000 merger Of Michigan
automobile companies. He said;
THE entire article and report are
fabrications pure and SIMPLE, the inven-
tion of some imaginative mind, and the
facts Of which could easily have been
ascertained by any request for informa-
tion or verifcation being made on any
of the gentlemen whose names are
mentioned prior to the publication OF
the article" ,.-
aud member of the executive commit
tee of the Maxwell Motor Company
said that company would not combine
with any other automobile concern
New-York tribune., 1916-05-07
Ordnance Co. Gets Motor Plant.

The Consolidated Ordnance Company,
recently incorporated in Delaware, 10
engage in various forms of ordnance
manufacture, has ,.cquired the Sterling
Motor Car Company, large manu-
facturcr of automobile parts, and has
turned its facilities into the manu-
facture OF ordnance. With the pur-
chase the ordnance concern obtains the
big plant of the Sterling Motor Car
Company at Brockton, Mass, the deal
including the taking over Of the list OF
contracts the latter company has for
the manufacture of shrspnel adapters,
dies for cartridge cases and master
gauges for muniton work; also orders
on regular commercial business for
automobile companies. The acquisi-
tion Of other plants is said 70 be under
consideration by the Consolidated Ord
nance management.
New-York tribune., 1916-05-07
Bank Clearings.

Clearings through the banks at all
the more important cities IN the United
States continue 10 make new high rec
ords for this period, the total last week,
according 10 "Dun's Review" amount
ing 10 s4.625, ,69l 200. an increase of 22.3
PER cent as compared with the same
week last year and Of 1913 per cent as
contrasted with the corresponding week
in 1914.
Sharp expansion continues TO appear
at New York City. with gains Of 201
and Gal per cent, respectively, over the
same weeks in the two Immediately pre-
ceding years. Cities outside show an
increase Of PA per cent over last year
and Of 34.3 per cent over two years ago.
Daily average bank clesrings for the
wear 10 date are given below for three
years; ,.
1915 1918 1914
Nsv - STsSB7s 900 s6ss e07. 900 $500 Sol ono
Nnrl - essls2000 f0S 056. 900 500. 900
l., quarter 69s.s70OoO it0sS2.Ves 5e9.0Ss.eV
New-York tribune., 1916-05-07
Fickle Wall Street.

The scale Of activity yesterday re
called a certain Saturday morning twD
weeks back, when the whole marke
dropped with a bang on the belief tha
the Sussex note meant the severance o.
relations with Germany. On that dal
approximately 100000 shares change'
hands on a downward scale. YESTERDAY
the turnover on an upward scale wa
around $4,000 shares. Two weeks agl
stocks lost 3, and points. YESTERDAY
they gained 3, 4 and 5 points
New-York tribune., 1916-05-07
Gold Coin for Cuba.

Half a million dollars in gold coin
was withdrawn from the Sub-Treasury
yesterday for shipment to Cuba. There
was taken from the Philadelphia mint
$3.50 900 in the new Cuban coinage TO be
shipped TO Havana.
New-York tribune., 1916-05-07
Decrease for Twelve Fed
eraI Institutions Amounts
to $6,337,000.
N. Y. GOLD STOCK
$2,500,000 SMALLER
Three Southern Banks Hold
Two Thirds of Total Dis
counted Paper Reported.
tFrom The Tribune Bureau

Washington, May Ga decrease in
total cash reserves of $6,337 900 is
shown by the twelve Federal Reserve
banks, according to the weekly repor:
of the Federal Reserve Board to-day.
All the Eastern banks report smaller
gold reserves than the week before,
New York's decrease being caused
largely by deposit of more than 81
100000 of gold with the Federal Re-
serve agent TO reduce the banks liabil-
ity on outstanding Federal Reserve
notes. Richmond and San Francisco re-
port substantial gains of gold as the
result of the last settlement.
The larger cash losses indicated for
the New York, Philadelphia, Cleveland
and Kansas City banks are offset IN
part by gains made by the Richmond
Minneapolis and San Francisco banks.
Of the total amount of discounted
paper, about two-thirds, or S13,731, 1000,
is in the hands of the three Southern
banks. This figure is about 2s per cent
smaller than that recorded at the be-
ginning of the year. Less than so per
cent of all bills held by the banks at
present are discounts, as against 5S per
cent in the beginning of the year. Ac-
ceptances on hand show but little
change in volume since last week,
Philadelphia reporting the largest net
gain in its holdings of foreign trade
acceptances.
No change is shown in the amount
Of Treasury notes held by the banks.
The amount of United States bonds
owned by the banks is now in excess of
S50.O00,0O0. About S11 100000 of this
total has been deposited by the banks
with the Treasurer of the United
States to secure circulation. Against
the amount deposited the banks report
S5,31s,OOO of the bond-secured notes
received from the Treasurer and ST.
694,000 of such notes in actual clrcula-
tion. Municipal warrants on hand in
creased during the week S2,20O,OOO, all
the banks active in the field, except
Boston, showing larger figures than
the week before.
Of the total earning assets, 31.1 per
cent is represented by United States
bonds. 29.6 per cent by acceptances,
24.3 per cent by warrants, 1916 per
cent by discounts and "a per cent by 3
per cent Treasury notes. The ratio OF
earning assets to paid in capital stands
at present at S94 per cent, compared
with 2S4 per cent at the end of the
previous week and 152 per cent at the
beginning of the year.
Federal Reserve agents show total
OF SlS7 $4,000 Of Federai Reserve
notes outstanding, against which they
hold s178.O42,0O0 of gold and S9,978,0O0
of paper. The banks report S160,30e, 900
of these notes in actual circulation.
Their aggregate net liabilities on the
notes issued to them is stated as
Ss.573, 900.
The figures in detail are as follows: A:
RESOURCES
New-York tribune., 1916-05-07
Allis-Chalmers Earnings Gam

The Allis-Chalmers Company repsiis,
for the first quarter OF 1910 to,A' s-l0.
Of s4,373.s40. compared with on,s n.
337 for the same period OF lsl2 asS.
sales by month were; January, Wsrch
2OS; February, Sl,367,7S6. and N
Sl,640,90l.
New-York tribune., 1916-05-07
STOCK EXCHANGE FOR THE WEEK

Following usual table giving the number OF shares OF an. al d
dealt for tho together hgh'
week. the ana TO-" prices
IN. and The W prices Of the 1915
L070e week and 4-
s32 800 agnst l30t00 I'D