davidaulloa/AmericanStories huggingface dataset:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-12-16
CANADA INVADED
BY U. CONCERNS
Manufacturers in Many
Lines Establish Branches
Across the Border

About nifty branches OF United
states firms have been established 10
Canada since the outbreak Of the Eu-
ropcan war. Most Of these have gone
TO Ontario. though several have To-
Gated in the Province of Quebec and a
few in western cities. With an aver
age investment onservatively csti-
mated at 100000 these fifty plants
represent a new investment Of $4,000
600, according 20 The Monetary
Times" Of Toronto.
Prior to tho war there were about
$50 such companies in Canada, repre-
scntng total Investment of sl35,-
100000 and with the companies which
have opened establishments In the Do
minion since the war began, the grand
total Of such investments makes M
s15O00O.000 Of the O00,000,000 Of
United States capital invested IN Can
ada. The list OF articles msnufact-
ured By American firms which have
taken part in this Commercial in
vason" OF Canada Is a long one.
Among the companies establishing
branch plants there before the war
we're the manufacturers Of:
Asbestos, barreh. bind rollers. buttons,
carpet sveepers, eorsets. condensed milk.
bags. eork0, carriages. eouehes, brass goods'
billiard tables. cords. cash registers. disin-
fectant. fly paper. files. fire extinsuishers.
fountain pens. gramaphones, hardware
pickles, presses. puileys. rasors, rubhers'
sealers, shoes. scales. typewritcrs. wstrh
cases. tobacco. etc.
Since the war began United States
concerns have added the following 70
the list Of articles manufactured by
them in Canada:
Railway accessories. oversls. chemicals.
silverware and fstware. automobiles. horse
shoes. steel goods, patent medicines. spices.
soaps. perfumes. glue. beet sugar. pumps.
greenhouses. railway signals, fuses. boxes
spreaders. silk gloves. stockings, tires. steel.
steel products. canned goods, automobile
vsrnishes. betting store counters, eNplo-
sives. pulp and paper. sewing machines
aloxite and other abrasiyes and electric
furnace products, grain and elevator ma
chinery. silk and chemoisette gloves, refined
nickel and cottonseed oil products
Since informal discussion in various
quarters has been heard as TO the pos
sibility Of favorable tariffs among the
Allies and the dominions after the war,
there has been an impetus given to the
movement of United States branch
plants TO Canada, and numerous in
ouiries continue 10 be made by United
States firms with n view to their estao-
lishment in the Dominion. In the event
of favorable tariff treatment as be
tween the Allies and the dominions,
these United States manufacturers IN
Canada expect TO be regarded as Cana
dian manufacturers, and thus entitled
to the benefits Of any such favorable
tariff legislation. These firms are now
i'm a position 70 cater at close range 70
the demands of the Canadian market,
and hope also TO be in a position 20
handle some or all Of their export
trade from their Canadian factories
under present or revised tariffs OF vsri-
Gus countries.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-12-16
If PENNSYLVANIA GOT
THE MISSOURI PACIFIC
Interesting Possibility Of a New
Transcontinental Railroad

The report from Philadelphia that
the Pennsylvania Railroad was buying
into Missouri Pacific excited much
comment in Wall Street
II tho Pennsylvania should acquire
enough Missouri Pacific stock 10 give
10 control, it was argued the Harri-
man dream OF a transconclucntal sys-
tenn may yet be realized The two lines
connect a. So. Louis, and with tho
"Nops" further Western connections
with the Denver { Rio Graude and tho
Western Pacific direct route from
tho Atlantic seaboard 20 Pacific Coast
terminal Al San Francisco would be OBJ
tanned for the Pennsylvania.
The Pennsylvania ambitions for
connection west OF the Mississippi
River have been known for long time.
Through service 70 tho coast could be
arranged over the Pennsylvania as far
as st. Louis, where the Missouri Pa
cifc could be used as far as Pueblo,
Col. There begins TIE Denver & Rio
Grande, connecting 81 Salt Lake City
with the Western Pacific. which runs
into San Francisco. The latter Is still
under the control Of George Jay Gould.
In view Of Mr.. Gould's consent 70 the
Missouri Pacific reorganization by dc
post Of his securities under the plan
Wall Street believes that there would
be no difficulties encountered in the
arrangement Of friendly traffic rela-
tions between the Missouri Pacific and
the Gould lines, particularly if the for
mer we're dominated by the Pennsyl-
vania
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-12-16

Of higher prices buying suddenly
slumps, because now everybody who
can postpone his purchase does so,
whereas yesterday the inclination
was 10 anticipate ones wants and
get the goods in hand before prices
went any higher.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-12-16
S7 WEALTH MARKETS AND COMMERCE rs

can dollar. You buy an English pound
sterling Tor S4.75iA; tho intrtnfie par
itv IL .4ssS rer pound. Thus, you
.sv either that pounds are At a dis
count or that dollars are At pre-
MUM. which +, owing 70 the fact that
in England the demand for dollars
with which 20 settle accounts In this
country is greater than the demand In
thu, country FOR pounds with which to
settle accounts IN England.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-12-16
Other Cities

Holders of Boston & Maine Notes
Boston, Dec 15.-The Standard oil
Company Of New Jersey and the Singer
Sewing Machine Company of New York
each hold 100000 worth Of Boston g.
Maine notes, according 70 the testimony
Of Vice-President Hobbs Of that road
to-day at the receivership hearing in
the United States District Court. Who
the holders were of the Sl3,000.000
worth of notes which counsel for the
minority stockholders claim were IL
legally issued was one Of the questions
that interested financial circles.
Other large holders. according TO Mr..
Hobbs are the First National Bank. New
York. $903 600; National Bank Of Com
merce, New York, s455,0OO; Guaranty
Trust Company, New York, S345,0O0;
Union Trust Company, Pittsburgh.
s260.000; Liberty Trust Company. New
York, 100000; Mechanics National
Bank. New York. 100000; Kidder, Pea
body & Co, Boston, for Barclay|& Co,
$4,000, and National Shavmut Bank,
Boston. $4,000.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-12-16
U. 5. CROPS JUMP
TO S7,64l,b09,OOO
1916 Value of Farm Prod
uCts Exceeds All Pre-
yiouS Records

Washington, Dec. 1b.-All records FOR
value Of the eountry's important farm
crops were exceeded this year, despite
the smaller size Of the crops. Their
value was placed at s7e4i,6os,oo0 TO
day by the Department Of Agriculture
in IL. final estimates Of the year That
is St,75O,OOO,O0O more than the same
crops were worth last year.
Higher prices, due partly TO reduced
production and partly TO the demands
for Amsrican food from the warning
nations Of Europe we're responsible FOR
the vast increase In value.
-Four crops each were worth more
than s1.OOO,OOO.OOO. Corn, with total
value Of S2.295, 900, showed the
greatest increase, being worth So'S'-
100000 more than last years output
Cotton. the second most valuable
with total Of sl,O79,5ss'ooO' IN
creased s47587s,OOO over last year.
Wheat Shows Great Gain
Wheat the third, was worth Sl'oZo'-
7s5 400. or ss3,462,OOO more than the
vssr before, when the production vas
almost 4oo.OOO,OOO bushels more.
Hay was fourth, with a value OF
s.OOss94,ooo, an increase Of s'O''
10000. :.
Compsred with last years value
other crops showed the following IN
cressos:
Oats. s9s,679,O 900; potatoes, Ss0'Oli'-
600. tobacco. s72,727, 900; barley, AL
3e2 600; rye, S12,774,OOO; buckwheat'
s1521 900; fisxseed, sl3,s4O,OOo; rice
s1oe74O 900; sweet potatoes, Sl8'16i'-
GOO. sugar beets, s4,243,Ooo; beans
st7 900 600: kafirs. S2,l12,0Oo; onions
81 sol 900; apples. 1927 ,66O, 700; oranges
co $4,000. and wild hay, s1l.o63.ooo'
decrease in Corn Production
Final estimates Of production showed
decrease Of 6O,OOO,oOO bushels IN
ccrn from the November estimate ana
82 OoO. 900 bushels increase in wheat
4 revision of the 1915 estimates OF
crop production was announced by the
department, showing the corn crop 70
have been 1894, $4,000 bushels last
year a reduction Of 5e,742,ooo bushels
from previous estimates, and wheat
for 1915 was placed at 1,O2o'ool'VoV
bushels. an increase Of 1926, 900 bush
els over estimates made last December
Final estimates Of this years produc-
ton compare as follows;
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-12-16

ANDREW J. MCCORMACK. Auctionesf.
REGULAR AUCTION SALE
STOCKS AND BONDS,
Bv ADRIAN III. MULLER q s0S
OFFICE. No. SIS WILLIAM ST,
WEDNESDAY, dc. 20, 1918
az 1890 o'clock. et the
EXCHANGE sALESROOM
NOS IA AND "a NESEY STREET,
FOR ACCOUNT OF EXECUTORS
81 shA First Natl Bank. f0snrN
30 shs. Eagle Saving, a Loan o.
Class G..
sioT.s5 Passbook No. 5,sss Eagle savhr
e Loan Co. balance Sept ~, wv
on so shS Class B.
FOR ACCOUNT or ADMINISTRATIVE
s6i,66 Judgment against Arthur
Springer. fled Mar. ~. 1915, Ia \
T.. County.
FOR ACCT OF WHOM IT NAY CONCERN
rs shs. United states & Mexican 1ruS
60. prefd.
Is shs United states & Mexican Trust
Co. common.
20 shs. Singer Motor Co, lac
90 shs. Biogrsph COMPANY
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-12-16
U. S. Treasury Finances

Washington, Dee l5-The condition
Of the United States Treasury at the
close Of business to-day was: Net bal
snce in general fund. st2o. $50, ga; total
ordinary receipts $2.325,oesi total ordi-
nary payments, s3,355,oi5.
The deficit this fiscal year Is Sii3.-
323, 500, against deficit Of s52.3i5.i2
lsst year. exclusive Of Panama Canal
and public debt transactions.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-12-16

There are probably 100000
shares Of United States Steel com
mon in Wall Street. Counting only
those, and assuming that the re
naming 3,75O,OOO shares are held by
people who are not moved by fuctua-
lions either to buy or sell, you have
volume Of stock which is changed
in gross market value S1,250,000 by
each change Of one point on the
ticker. At par the Steel common
actually present in Wall Street was
worth S125.00O,0OO. At 100 it was
worth S162,5OO,OOO, or S97,5OO,0OO
more. A sudden decline Of 20 points,
which has taken place, represents a
shrinkage in value Of $25,000,000.
The spectators Of Wall Street are
worth Just that much less.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-12-16

steel common is taken merely as
an interesting example that can be
conveniently isolated. The same is
true not only Of other stocks and of
the stock market as a whole, but Of
commodities and Of all things that
are priced in money and fuctuate.
The rise that has taken place in the
price level generally has been assimi-
lated in the same way. We complain
of the rise in prices and protest
against the high cost Of living, and
vet prices cannot decline without
producing the illusion of q catas
trophe. A rapid return TO the prices
that prevailed before the war, or
even TO those that prevailed year
ago, would produce effects in the
commercial world similar 10 those
produced on the Stock Exchange by
the fall in the quotations for Steel
common. It would not be psyche
logical matter merely. Actual loss
would be suffered. Business has ad-
justed itself 10 high prices, not by
preference, but by necessity. There
is very little business really that can
. bde It's time. Most Of it has got 10
be done, no matter what prices or
other conditions arc; hence its mar
vellous power Of adaptation. On the
basis Of existing prices credits have
been arranged, wages have been
raised, goods have been bought for
resale. inventories have been written
up, options have been taken, con-
tracts have been let and profits have
been calculated. For instance, steel
prices have doubled in a year. That
means that business has been done
on a rising price tide. Buying has
been governed by an idea Of higher
prices. Now, II you think of halving
steel prices it is not merely that you
reduce the price OF steel product,
but that you reverse a basic
tendency. For the idea OF higher
prices you substitute the idea Of
lower prices. That makes a funds-
mental difference in the attitudes Of
buyer and seller. When business is
governed by the idea Of higher prices
The buyer seeks the seller and goods
sell themselves. When IL is governed
by an idea Of lower prices the seller
seeks the buyer, for then goods will
not sell themselves. So you have
two factors. One is the price itself
and the other is the tendency OF
prices. II over night you substitute
the idea Of lower prices for the idea
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-12-16

Of per een. payable December 80 |"
Of record Decemher 10. o..
California Packing Corpofsnoa. re
ferrsd dividend Of si.5s = share. covers as.
period from October 10 20 J@nsN ne,ec-
able January ! 20 stock Of reeofa ~
Der rs. II
Howard Smith Paper Mills. pN ~ "a ss-
l2h. per cent on the treferr~d 80 M. ,,rtsg
count Of back dividends. psyAos
% 10 stock o. record December ,,.
New England OF and Pipe bine an tss
lar quarterly dividend Of a per :. .tosk
preferred stock. psyAhls January
OF record December %
Pan-Am-rioan Debenturs os rr~S,-rsi
Dividsnd 81 s per cent on tns ,,,,, 81
stock. payable Ia quarterly III lay snd
the 6rst day, Of January APfh' ~,
October. a
Marlin Arm. corversror.-pl vissnss O. .. '
cents a share on the prefeffea ,s.a.ry 4
able January to stoeh OF ree'''
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-12-16
Henry CIews & Co,

u. %. IS. ~ and - BROAD ST.
MEMBERS y. Y. STOCK EXCHANGE
Stocks. Bond, and Iuvs,tmsn, Securities
souqh, and sold on commission. Also carmel
on conservative terms. De7o't Account r..
.-lved subject 10 check a, sight
ln,,res, pad on daily balance,
BRANCH OFFICES
800 Fff.h Ave $50 Third A..
I4Z2 Broadway % warren s.
IS Union Squsrs ~ Court 81. Bkiya
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-12-16
DIVIDEND NOTICES
keystone Tire and Rubber CompanI,

New York. December rs. 1917
The Board Of Directors havs iris q.
Gecla r~6 a quarterly dividend = 40 ~
cont lcTs). with au additional ons,ta
Of one per cent. Grl upon the pftien'
stock. and a regular quarterly diWlens
thre. per cent l3Csl upon me- CONF.
stock Of this compauy payable ysn.sn
md. 1917. 20 stockholders % record. ~
cember 22nd. 1915 Checks VII - mll''
IOFT, JACOBS Secretary
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-12-16

Debenturc Corporation, have issued
statement 20 the effect that the com 70
pany contemplatcs an expansion Of
business and an enlargement OF tne
scope Of It's activities, especially IN me
South American investment field. rms
policy has been adopted following the
recent purchase Of all important inter
csts In the corporation By tho Westing
house Electric and Manufacturing
COMPANY New members have been
elected 20 the board of directors. az
follows: Guy f. Trip. chairman, OF
the Westinghouse Electric and Manu-
featuring Company; J. K. Bruce, New
York agent Of the Royal Bank Of Can
ada, and William A. Ramsay, New York
agent OF the Merchants Bank OF Can
ada. The preferred dividend Of 6 per
cent, payable in quarterly instalments
In 1917, has been declared out Of earn
ings Of the past year.
VIII Investigate Trade In Russia
+. c. Porter, executive secretary or
the Russian American Chamber Of
Commerce, will sail for Russia early
in January 20 confer in regard 70 mat
ters relative to American-Russi8n
trade. He will remain In Russia two
months and will include In his tin
crary Petrograd, Moscow, Kief, Char
kofT, Odessa and Tifis.
Long Island Rate Hearing.-The
Long Island Railroad concluded its ap-
peal 10 be allowed 70 increase its pas
senger rates from two to two and a
half cents a mile yesterday. The hear
ing, which has been going on, for sew
eral days before the Public Service
Commission of the Second District IN
the Metropolitan Building. ended last
night Lawyers for the railroad ana
for the protestants against the pro-
posed increase will file their briefs in
a few days.
Henry Rawson. electrical engineer
and accountant for the road. was the
chief witness yesterday. lie testified
that the Long Island Railroad ran its
freight service AZ a profit. but that it
lost money on its passengers
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-12-16

A fine cargo steamer Of $500 tons
dead weight, lately completed in
Japan. is reported 70 have been sold
20 japanese owners for S2i0 a ton,
or nearly Sl,s5O,OOO This is an euor-
nous price according to all ante-bel-
lum ideas The reason for this is
that the japanese shipbuilders, finding
the English steel markets closed to
them. owing TO the needs OF the mu-
nitions plants. have been forced to
pay abnormally high prices in America.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-12-16
UNITED STATES GAIGB oo"'
nIkInENn

The Board % Directors has d.oia. ~
regular SENT annual dividend ~ me- re-
oue-half per cent 10 a y on 'as -, oer'
stock and a dividend 81 twenty 80. =,
t20c,l on the Common Stoch - :, sof.
ers OF record a. the close % eIHn
December %. 1915.
Checks viii be mailed ..,,,r
ALFRED y. POTTERToN. Trsss''
New York. December ~. wv
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-12-16
Dutch Loan Authorized

The Hague, Dec. 1.-THE first cham
Der Of the Netherlands Parliament to-
day passed the bill authorizing the g.
sue Of a state loan Of $4,000. 900 form,
q. per cent.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-12-16
Relevant
Information

American Smelting-Common stock
Of the American Smelling and Refining
Company, after declining to 1855 yes
terday. recovered to 1881 at the close,
where It showed a net gain Of 2h
points. The turnover amounted TO 3d.
OC0 shares. SHELTERS low price yester-
Gay compared with high for the war
period Of 1925. made on November %.
The company is paying dividends on
the S5O111,OO0 common outstanding at
an annual rate of per cent. Last
year 1880 per cent was earned on the
common, against Col per cent in 1914
and 747 in 1913. The statement was
published in Wall Street yesterday that
earnings on the common for the cur
rent six months ending December 81
would probably amount TO fully 500 q
share. which would bring the total
earnings for the full year 70 more than
S35 a share The company's capacity
is booked up for the first half Of 1914
including the additional refinery ca
pacity 20 be brought in next month.
Southern Raiiway.-Despite thee ner-
vousness displayed in other parts Of
the stock list, Southern Railway com
mon continues to display pronounced
strength. Yesterday 1t advanced TO a
high Of 3414 and closed 2H points up
at 81. The current price for the stock
is the highest since 1906. when 1t sold
a 427s. The low this year was 10, and
last year the stock touched 1914. No
dividends are being paid on either the
S120,OOO,OO0 Of common or the $4,000
900 Of per cent non-cumulatiye pre-
ferred. The last payment on the pre-
ferred was per cent, in December
1914. Earnings in the first four months
Of the current fiscal year, beginning
with last July, we're at an annual rate
% 5.79 per cent on the common.
against 5.2s per cent the preceding
year. The directors recently author
ICED a new refunding and improvement
mortgage, which will secure an issue Of
gold bonds limited to S5O0oO0,O0O, 70 be
issued from time 20 time.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-12-16
New York

Caution in Business. The outstsnd
ing and most reassuring feature of the
business situation, say K. 6. Dun <
Co.. in their weekly review of trade. is
the increased caution manifest IN
banking. producing and distributing
channels. Foreign developments have
accentusted the tendency toward whole
some conservatism, without affecting
the progress of finance or lessening
the volume of transactions IN trade and
industry. and recent speculative read
justments have made the general out
look distinctly clearer. Prices, more
over, no longer are soaring IN nearly
all lines, though strength continues
pronounced in many quarters, and buy
ers. while operating with sustained
confidence. give more consideration 20
the element Of cost in making commit
nents for the future. Activity in some
branches has subsidized, as il invariably
does at this season, with statesmen
coming IN from the road for the holt
days and annual inventories under way
or in course OF preparation. Yet the
pressure upon manufacturing forces Is
undiminished and the difficulties OF
maintaining outputs AZ the high point
necessitated by the unprecedented con
sumption increase with shipments Of
fuel and % raw materials delayed b.
the freight congestion, which grows
rather than lessons in some sections.
Investment Corporation Expands
Directors OF the Pan-American Deben-
ture Corporation, organized in 1913
rrd.v fha mama of tho Public Iftility
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-12-16
RefIexes Of War

As yet women have not been freely
employed in the Canadian munitions
factories, but their numbers srs grow
ing, and official reports of their work
are very encouraging, says CORE
spondent of Tho London Times Az
the beginning OF the war there was
considerable commercial depression in
Canada, and when the manufacture OF
munitions was begun there was sur
plus of male labor. Manufacturers,
moreover, were reluctant 70 try the
experiment, and the labor unions were
rather afraid Of the effect of the en-
ployment OF women on wages. The
Hon. Thomas Crothers, Minister for
Labor, who has just completed an in
spection OF various factories in which
women are employed, reports as fol-
lows:
Women have shown themselves TO
be well adapted 70 the more delicate
work of munitions manufacture, such,
for example, as the making OF fuses
and parts which require very careful
handling. Thousands Of women have
volunteered, and some 1900 to 1900
are being employed. although there are
sometimes objections on the part Of
foremen and other employees TO the
employment Of many women. Those
who have gone into the industry are
many Of them former store women.
They go In at to 8 shillings a day,
and some earn ga high as Is shillings
a day on piece work, after they have
become proficient"
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-12-16
THE MUTUAL BANK,
Al ~ Mt QQd sfrecf New Work

uecemher ffth. 1913
The Board Of Directors has THIS Gay -
clareA . sernf-annual dividend Or lev.
Per Cent ,1crf. together With On st,s
dividend OF SIX Per cent t6tl. on "
capital stock ~ this bank payanls -
uary 2nd. 1919. 20 stockholders OF ~,
az the close 81 business December ~"
HUGH X. KIRKLAND. ca's'''
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-12-16
GUILE Asu SHIP Isl.sG RsILRoal cOMplM

First Mortgage Refunding snd
Terminal Five Per Cent. Gold b0nds.
As provided in Section seven of Artt..
Two Of the Mortgage securing rho $50. -
bonds above descr bed. the lnd-rs'gnei %
Trustee will receive scaled proposals up
90 p ". on January s. 1871 for the /"
% it q such bonds flr account of ne sin.-
.ng Fund. at price nor o.ceedins no p
cent and accrued Interest. 20 fhe amount
of .725ia53. conditioned upon The pt
ment 10 tho undersigned on that amour
on or before January End. 1917, as pro
vided IN the said Mortgage.
THE NEW YORK TRUST CONPANl.
formerly New York Security and Ir''.
Company. lfls's
~ II " MORSE. sscreiar7.
December 6th, 1915
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-12-16

Boston Coppers.-Boston, Dec. Is
Mining shares sold off sharply during
the mid-session to-day, Calumet and
Hecla declining 10 points and other
fsvorites from 1 to points, but re-
coveries brought prices up to the best
levels Of the day at the close. The
demand extended TO all parts Of the
list. Copper Range, 6s; Old Dominion,
66; Osccola, 90i2.