New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-20
New York
Merchants Association Favors


Contr0l.-Control of the intrastate
rates and regulations of carriers, Fed
eral incorporation Of railroads and
Federal supervision of the issue Of Sc
curities OF interstate carriers have
been approved by the Merchants AS
ISOLATION of New York and will be
urged systematically by it for adop-
ton.
The association, at the same time,
strongly opposes government owner
ship of public utilities, and will OPP
pose this innovation wherever it is
advocated.
Committee Elected.-The New York
State Bankers Association, Group
VIII, has elected the following COM
mittee for the ensuing year: Lewis l..
Clarke, Theodore Hetzler, Henry +.
Dawson, George +. Baker, jr., W. n.
Duane, James r. Perkins, Walter +.
Frew and Thomas Cochran.
Brother and Son Successors to James
Rascovar.-At special meeting of the
board Of directors of the New York
News Bureau Association, held yester-
day, Edward Rascovar, who has held
the position as secretary of the com
pany for many years, was elected presi-
dent, TO succeed his brother, the late
James Rascoyar. At the same meeting
Frank james Rascovar, vice president
of Albert Frank & Co. and son OF James
Rascovar, was elected secretary and
director of the company. A special
meeting of the Hamilton Press was also
held, at which Frank James Rascovar
was elected a director and vice-presi-
dent, to fill the vacancy in the board
caused by the death of his father.
Franklin Heads Mercantile Marine
p. A. S. Franklin, vice-president be-
fore the receiverShip, and later re-
ceiver, was elected president OF the
international Mercantile Marine Com
pany at the reorganization meeting OF
the new board of directors yesterday.
Harold A. Sanderson, formerly presl-
dent. was made chairman OF the board.
One of the dire ctors in attendance at
the meeting said that the matter of
the 50 per cent of back dividends on
the preferred stock was not discussed.
Ii was voted that the board would
meet hereafter on the third Thursday
of each month.
Union Bag & Paper-The following
unsolicited statement was given 10 the
newspapers yesterday by Swartwout
Appenzellar, members of the Stock
Exchange:
Swartwout & Appenzellar. when asked
to-day about the sharp rise In the price
Of Union Bag and Paper Company COM
mon stock. stated that the advance 20 a
price beyond that justified by ! 20
parity with the new stock was. In their
opinion, wholly unjustifed. and that the
unjustifcd price fsr the common prob
ably caused By short interest occasioned
through an attempt 70 arbitrage on 500
shares of old common as against 100
shares new stock. They also pointed out
the difficulty of borrowing the stock at
this time. when call has been made for
deposit of stock under the reorganization
plan.
The reorganization Is an accomplished
fact and any valuation for the old pre-
ferred and old common which Is not based
on the price at which the new stock "a
selling Is unwarranted.
Donner's Exchange Seat Sold.-The
membership of Percy +. Bonner, of
Pittsburgh. was transferred yesterday
to c. McGhee Baxter for $4,000, the
same as the last previous sale. On
September %, 1915, Bonner was sus-
pended from the exchange for one year
on the charge of alleged connection
with firms doing bucket shop tusi-
ness. New members elected TO the ex-