davidaulloa/AmericanStories huggingface dataset:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-08-31
Ontario to Stop
Export of Power
Electrical Energy Generated
at Niagara Falls Is Wanted
by Canadians
By S. ROY WEAVER

TORONTO, Ontario, Aug. S0.-The
Ontario Hydro-Electric Commission is
about to demand for use of mrnici-
palites and industrial establishments
on this side of the international boun-
Diary 10000 horsepower of electric en-
ergy which private companies at Mag
ara Falls have been exporting 10 the
United States. The Ontario government
has passed an order in council author
izing the commission 10 appropriate the
power now exported, and unless 1t is
secured by agreement the commission
will exercise the rights conferred by
the provisional government and lnstl-
tute proceedings to that end. The
commission is in immediate need OIL
a considerable amount of power and
this fall will require the entire amount
at present exported.
The companies concerned are the
Electrical Development Company and
the Canadian Niagara Company, when
are exporting $4,000 and $4,000 morse
power, respectively. A number OF IN
dustrial concerns at Buffalo and border
points until recently were dependent
upon power generated in Canada. The
matter probably will be settled by
agreement, and no retaliatory embargo
on coal by the United States is anticl-
pated.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-08-31
Dividends

Minneapolis. st. Paul & Sault Ste Marie
Regular semi-annual dividends of 3la pei
cent on the preferred and 3 y per cent on
the common stocks, both payable October Is
TO stockholders of record September n.
Westinghouse Church kerr.-Regular quar-
tery dividends of I. per cent on the pre-
ferred and IA per cent on the common
stocks, both payable September 10 to stock
holders Of record September |.
Mexican Petroleum. 900 Regular quarterly
dividend of 2 per cent on the preferred stock.
payable October l to stockholders OF record
September Is.
Pan American Petroleum q Transport
Regular quarterly dividend of l q per cent on
the preferred stock, payable October / TO
stockholders of record September 10.
North American Company. Regular quar-
terly dividend of -. per cent. payable Octo-
Der ! TO stockholders Of record September 10.
Packard Motor Car.-Regular quarterly
dividend of IL. per cent on the preferred
stock, payable September Is TO stockholders
Of record August 30.
Wisconsin Central-Sem i-annual dividend
of per cent on the preferred stock payable
October !.
Calumet & Hecla.-Resulai quarterly divi-
dend OF $50 a share.
Allouez Mining. Quarterly dividend Of SO.
Stromberg Carburctor.-R Regular quarterly
dividend of 20 cents a share, payable October
/ to stockholders of record September 10.
international Silver Quarterly dividend OF
Ia. per cent on the preferred stock, payable
October 1 to stockholders Of record Septem-
Der 20.
Southwest Pennsylvania Pipe Lines.-Reg-
ular quarterly dividend Of 50 per share. pay
able October / TO stockholders Of record Sep
TENDER Is.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-08-31
Placer Mining in Honduras

placer gold" writes Francis J. Dyer,
American Consul at Tegucigalpa, ais
found in many stream beds and alluvial
deposits in Honduras. The Spaniards
well knew this, and the prospector OF
to-day, in working what appeared to be
virgin ground, has found beneath the
forest cover, and at depth of twenty
or thirty feet, implements and tools
which the old conquistadores and their
Indian helpers left there centuries ago.
"But there seem to be few placer gold
propositions which yield satisfactory
returns. Sometimes prospectors become
enthusiastic over indications that, for
one reason or another, fail to lead to
dividends under actual operation. In
one case some $4,000 was expended by
an American company in putting in a
dam, pipes, etc, before an expert was
called in to make thorough examina-
tion of the property. On the experts
report operations were abandoned. Yet
the soil carries gold, and Indian wom-
en- there. as well as elsewhere in Hon
duras, will wash out the yellow metal
with great patience, counting their time
as nothing while obtaining the price of
some article upon which they have set
their hearts.
"Most of the placer gold secured in
Honduras is washed out by the Indians.
1t finds its way to the traders. usually
in the more remote districts, and some
times passes from hand to hand in
various transactions before it leaves the
country. Some of it is carried away
by voyagers sailing to the United
States. More of it is bought up at 80
pesos 1913 United States currency per
ounce by men who are on the look
out for IT,
"There is no record OF the produc-
tion of such gold. II is. to a consid-
cradle extent, shipped by first class
registered mail TO the United States in
small packages. No invoice or declara-
ton Of such shipments is made, and
no record for public information is
kept. The extent Of this business,
therefore. can only be conjectured. It
is not relatively large, and can be eX-
pressed in thousands of dollars; but
whether the value Of exported gold dust
from placer washings is $4,000 or $780,
900 a year only those engaged in
handling such gold could Judge"
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-08-31
Australian Gold Mining
Companies Amalgamated

The amalgamation of the gold-min-
ing companies in the Bendgo field has
now been completed and the CONSOLE
dated company registered, according to
a report from the American commercial
attache at Melbourne. The new COM
pany has taken over the properties OF
the various constituent concerns, and
its stock is listed on the Melbourne
Stock Exchange. All the stock has
been subscribed and has a par value
of five shillingS-two shillings paid up
and three shillings on call. The stock
is selling on the exchange for IS. Sd.
to IS. Id, which is at premium ABOVE
the amount already paid up. ,
The amalgamation, which afected
some forty different mining enterprises
was nut through by the Edward Dyason
Proprietary. Ltd. At the request OF
the promoters, board of assessors was
appointed to determine the relative val
mes of the different properties and TO
allocate among them 100000 shares OF
a mammal value Of five shillings. lie
board gave careful consideration IN us
alIotments, to all factors which seemed
proper to the making of just alioca-
ton. including. among other things,
the ore exposed and expectant at each
property, potentialities for prospecting
leases. lands, property. shafts, work
inrs plant and financial position.
The nominal capital of the new COM
many which is known as the "Bendigo
Amalgamatcd Goldfelds No Liability,
Is $500 900 (S2, i33, OO0), divided into
1000, 900 shares OF five shillings Csl.2l)
each.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-08-31
Relevant Facts

July POrphyry Production.-Four of
the porphyry copper producing COM
panies issued reports yesterday show
ing output for the month Of July. Utah
Copper produced 1s,l27,154 pounds Of
copper, compared with l9,909,097 in
June and 19,268,S56 in the month of
May. Chinos output was 7,343,757
pounds, against 7,l93,262 in June; Ray
Consolidated produced 7,sOS,766 pounds
in July, compared with 7,6lEJl4 in the
month preceding, and Nevada Consoli-
dated mined 7,253,337 pounds, against
6,850,l86 in June and 7,239,97S in May.
Canada Copper Corporations Stock
holders have voted TO increase the COM
also to issue S2,500000 ten-year per
cent first mortgage sinking fund con-
vertible bonds. The new capitalization
will consist of 100000 shares, of a
par value of So, part Of which will
be held for bond conversion.
Atchison. Topeka & Santa Feat
the annual meeting on October %
stockholders will be asked to ratify
plans for the acquisition of the capital
stock and indebtedness of the Usage
County & Santa Fe Railway. North
Texas & Santa Fe Railway and the
Barton County & Santa Fe Railway.
These companies were incorporated
under the direction of the parent prop
erty to build branch lines. "These
three lines says President Ripley,
Gora dasiypad m devalnp prnu q n @,
territory and to serve as feeders for
our main lines"
American International Corporation.
Directors have voted an additional
call Of $40 share, TO be paid on
October Is by shareholders of record
September 10. Including this payment,
so per cent of the stock will have been
paid in. The regular quarterly dividend
Of rs cents a share has been declared
on the common stock, payable Septem-
Der 29 to stockholders Of record Sep
TENDER Is.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-08-31
NY. Central to
Float Loan Soon
Seeks Permission to Issue
$25,OOO,OOO of New
Securities

Additional railroad financing in the
near future was foreshadowed in the
announcement yesterday that the New
York Central Railroad Company had
made application to the Upstate Pub
lie Service Commission for permission
to issue Sl5,000,000 Of its promissory
notes and Sl0,O00,000 Series A refund
ING and Improvement Az per cent
bonds. The application stipulates that
the notes shall not bear more than
5 per cent interest rate.
Ii is expected that j. p. Morgan &
Co., who have acted as the roads
bankers in the past, will head a syndi-
cate that will offer the notes. The
Series A bonds will be pledged as
security, and also S1O,OO0,0OO addition
al bonds, the issuance of these having
been authorized by the Public Service
Commission on April 26, 1917. At the
Morgan Offices yesterday 1T was stated
that, while no definite date had been
set for the offering of the new notes,
they might be brought out on short
notice.
From the proceeds of the sale it is
intended that s5,500,000 will be used
for additions and betterments and So
800. 900 for the discharge of outstand-
ing obligations.
Bond men and investment bankers
said that the decision of the New York
Central to raise new money through
the sale of notes furnished was made
necessary by the lack of demand for
bonds
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-08-31

Eugene Meyer, Jr., Quits
The Cotton Exchange

Eugene Meyer, jr., severed snotner
of his Wall Street connections yester-
day by selling his membership on the
Cotton Exchange to ]. W. Jay for $751;
$50. This was a decline of $3.50 from
the last previous sale.
The firm of Eugene Meyer, Jr., q
Co.. of which Mr. Meyer is the leading
partner. it was recently announced. Will
be dissolved on September 80. Mr..
Never intends to devote all his time to
the work of the Advisory Commission
Of the Council of National Defence, OF
which he is a member. His, partner
Charles J. Thurnsuer, a French citizen
has been called TO the colors in France
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-08-31
Americans Active on
Railroad Surveys in China

Thomas Summons, American Consul
General at Shanghai, writes: "In pursu-
ance of its contract with the Chinese
government for the construction Of
/ 100 miles of railway, the Stems Carey
Railway and Canal Company has been
actively at work on reconnaissance
surveys and other preliminary activi-
ties on several likely routes. One OF
Ichiawan, in Human Province, via Slang
tan, Packing and Yungchowfu, in the
same province, and Chuanchow, Kwei-
lin, Liuchowful, Tsienkiang and Kweih-
sien, in Kwangsi, to Chnchow, IN
Kwangtung Province, on the Cuff of
Tonkin. distance of 626 miles. Actual
surveys have been completed. Four com
rlete parties, numbering about 400 men,
have been in the field, and they have
completed careful, accurate and thor
Cugh surveys of this entire line. En-
gineers are now engaged in the COM
rilation of the data and the completion
of the maps and profllcs.
"The Chouchiakow-H siaIgyang route
extends from Chouchiakow (Honan) ga
Yencheng and Nanyangfu, in Honan, TO
Hsiangyang (Hupeh), 4 total distance
Of 225 miles. A very close reconnois-
sance survey of this line has been made.
Surveys from Hsinyangchou (Ho-
nam via Fancheng, Loahokow and Kin
chow, in Hupeh, to point west Of
Yunyang (Hupeh), a distance of 277
miles, have been completed. and the
maps are now being made. A separate
reconnaissance by route south Of the
Han River, between Fancheng and
Hinganfu, distance of $50 miles. has
also been made.
There are now three survey par
ties in the field between Yunyang HUI
peh) and Hanchungfu. (ShansD, $50
miles. These parties number about 400
men, including coolies, and IL is ex-
pected that the surveys will shortly be
finished. Four parties have just COM
mcnced a reconnaissance from Chi
kuhsien (Hupeh), via TAPPING, Pachow.
Paoning and Tungchwan, 20 Chengtu
(Szechwan), q distance Of approximate
ly 400 miles.
From these lines, or from others
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-08-31
News Digest
Foreign

London Does Not Look for New war
Loan This Year.-London, Aug. So
With the underwriters taking So per
cent of the Commonwealth loan, which
was quoted at fve-eighths discount,
gilt-cdged securities were inclined TO
dulness, though the war loan was un-
changed. lrdustrials were the most
active, munitlon shares being leading
features. Russian issues were weak
on the unfavorable exchange situation
and the quotation touched 266 rubles
for go. Silver mines and foreign rails
were in good demand, but American
securities were neglected.
The banks are buying November bills,
and this creates a belief that no new
loan will be issued by the government
this year.
Paris Bourse Quiet. Paris, Aug. 80
Trading on the Bcu--e was quiet to-
day. Three per cent rentes were
quoted at 62 francs % confines for
cash and the per cent loan at 81
francs 90 centimes. Exchange on Lon
don was quoted at q francs Is CEN
times.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-08-31
Elections

William G. Shaible, chairman OF
Group V, of the New York State Bank
ers' Association, has been elected
treasurer of the Chase Securities Cor
poration and will assume his new du-
ties or September 5.
R. II. Lansdale has been elected vice
president of the American Mailing
Company. to succeed Stephen J. Leon
ard. resigned. Ansel Phelps has re-
signed as a director The position has
not been filed.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-08-31
Iron Output Of India

The pig:ron output for India in 1915,
according to the statistical report is
sued by the Iron, Steel and Allied
Trades Federation British was as fol-
lows: Foundry iron, 1884 tons; basic
iron. 1926 tons; specular iron, l,sA3
tons: direct castings, $50 tons, making
the total 246,553 tons, against 270,027
tons in 1915 and 234,726 tons in 1914.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-08-31
The Dollar in Foreign Exchange

Except for further weakening Of
quotations for rubles there was little
feature to the market for foreign ex-
change. Spectators are still doing
most Of the BIT sness in rubles, which
being unsupported are still easily de-
pressed by short selling.
Closing rates yesterday, compared
with week ago, are given n the table
below. American bankers have sus-
pended all dealings in German and
Austrian exchange, so that daily quota
tons for either marks or kronen are
no longer available.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-08-31
FINANCIAL MEETINGS

A SPECIAL MEETING OF sToCkhoL.IIi
ers OF villa Construction CoIhps"' Tyih.
une Building. New York. SeptemosI 90
1877. at 100 A. NJ. f,r the purpose % -.
ducing the capital stoc.. from f3s'0eS' syss
Stating OF $50 Shares par Nslue % e. re.
each. to $4,000. 20 consist OF Sev 90 ~.
mar vale OF 81 each IENRf r. NO 1n ~. N
COP. President LAWRENCE H. IHSAN
.cretary. Aug. IS, 1917.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-08-31
Current

The above rates express the cost OF
foreign money in terms Of the Ameri-
can dollar. You buy an English pound
sterling at, say. s4.75H. The intrinsic
parity is s4.S6Ss per pound. Thus, you
say either that pounds are at discount
or that dollars are at premium. which
is owing to the fact that in England
the demand for dollars with which to
settle accounts in this country is great
err than the demand in this country
for pounds with which to settle ac-
counts in England.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-08-31
The stock market averages slid of

The stock market averages slid of
another point, and now stand at ap-
proximately the lowest levels Of the
year. In the last three weeks the in
dustrials have declined points. The
railroad average Is also lower by
several points than it was at the be-
ginning Of August, The market is
gradually working down to the level
Of depression at which 1t stood when
the war began in Europe There are
many exceptions, Of course, but the
fact remains that the average Of
twelve representative industrials is
less than 9 points above the average
at the beginning Of 1914, while fif-
teen representative railroad stocks
show an actual decline Of 20 points,
compared with the prewar level.
The figures certainly suggest-and
there is plenty of confirming evil
dence-that those who are selling
stocks at this time are doing so in
many cases without regard for in
trinsic values 1t would take more
than any price fixing and taxation
yet proposed to subtract from indus
trial shares all the value which has
been added to them during the war !;
and profits are certain to be above
the 1914 figures, as a general rule.
As for the railroads, record and last
ing prosperity seems assured for
them.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-08-31
.,ss,~c Curw,CAL Co, INC.

To the Stockholders. Please t.ke n.y. NJ q,
that the annual meeting OF stoeAh1l .i.c.
Kissing Cllmical Company, inc s"' ali
lion ~ directors and transaction OF
proper business VII! be held az me oins 81
he company. g2S Fifth avenue Boroush ~, NJ
Maohattan. New York City, oep'e'
1911. At 10 o. lock In the forenoon,
FII NIX =. JONES, Diree''''
Dated Angus y, vi.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-08-31

which are covered by the Stems SsN ss
contract. will be selected the mileAss
TO be constructed under the eon.f. .ss
The work so far done has been only ~.
necessary engineering that 10 pfe''
nary to construction" u.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-08-31
Money and Credit

Payments into the New York Federal
Reserve Bank on account of the final
instalment Of the Liberty Loan bonds,
due yesterday, amounted to about 49,
sol, 200. Further payments to the
amount Of s5,oC0,Ooo are expected to-
day, and with these the entire allot-
ment Of the bonds in this district,
amounting to 1921, 100000, will have
been paid for.
A slight ripple in the money market
resulted from the transfer of these
funds, the rate on call loans being put
up TO 4 per cent, though most of the
days renewals were at 317 per cent.
Not much was done in time money, but
bankers described the market as being
frmer at rates recently quoted.
Ruling rates for money yesterday,
compared with year ago, were as fol-
lows:
Yesterday. Year ago.
Call money. 3IaD 2Ia0o
Time money linked collateraD:
so Days.....4 @4RpS 234@3 %
80 days. 4Ns@434po 8 @3H1o
months. 1905 % 3A93a4%
to mos. 5 q5I4Ps 3A@3A%
Commercial Paper. Rates were
slightly frmer with some increases in
the offerings Of the best names. Prime
paper TO run for six months was quot
ed at 5G5lh, while three and four
months maturities were offered at
-. as per cent
Ofhcial rates of discount for each OF
the twelve Federal districts are as fol-
lows:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-08-31
TO HOLDERS OF
JEFFERSON & CLEARFlELD COAL
& IRON COMPANY

SINKING FUND NOTICE
Notice is hereby given as provided IN
Article 3 OF the Indenture dated June III,
1856. securing the above bonds, that sealed
offer, will be received up TO 10 A. ". on
Friday, September II, 1911, by the GUAh-
ANTY TRUST COMPANY OF NEW YORK
al its office, No. 40 Broadway, Ne" iors.
Tor ,he sale 20 IL as Trustee At the lowest
price AZ which such bonds shall be onereo'
not exceeding 1855 and accrued interest,".
OF sufficient Of the above bonds TO ennauss
the sum OF Slxty-E;ght Thousand seven
Hundred Sixty-Four Dollars and hfty-oh'
cents (s5s,76f SD.
offers shall be sealed and ENDORSED
"Orers for the sale Of Jefferson q Clear
field Coal & Iron Company 6% Bonas 70
sinking Fund" and addressed 20 the
TRUST DEPARTMENT.. ~
JEFFERSON & CLEARFIELD COAL
q IRON COMPANY.
BY GEO. II CLUNE, Treasurer
Dated. Rochester. y. T., August J. l'1'
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-08-31
Thursday, August so, 1917

One of the important factors in
determining money rates in the next
few months will be the policy the
government adopts in regard to pay
ing for its war purchases. Should
the authorities at Washington ar
range to pay promptly for the enor-
nous quantities of ammunition and
other supplies now being bought for
the army and navy, or even go fur
Their and advance funds to manu-
facturers and large distributors with
which they can finance government
contracts, the banks would be re-
lieved of the necessity of pro7iding
large sums to commercial borrowers
in addition to taking care of the nor
nal demands of that character.
Also, industrial companies engaged
in the production Of war essentials,
which otherwise may be compelled to
seek funds at exorbitant rates in the
investment markets, would be re-
lieved of that embarrassment Great
Britain and France have both fol-
lowed this course, greatly to the ad-
vantage of the banks and manufact-
urers in those countries.
With the aid of the Federal Re
serve System, it will DO possible for
the banks to finance the additional
load Of commercial paper that seems
certain to be put out if other means Of
financing government purchases are
not put into effect, but rise in rates
for money would result from such
increase in the volume Of borrowing
in the open market The banks,
therefore, are anxious to learn def
nitely what the intentions Of the gov
eminent are in regard to financing
its war orders, because uncertainty
ON this point Is causing confusion as
to the future Of the money market
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-08-31

Below is given the current exchange
value of foreign money in dollars and
cents, together with the intrinsic gold
parity, as calculated by the United
States Mint:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-08-31


to the Sub-Treasury s3S9,oC0.
Gold Currents-The Sub-Treasury
transferred s2,l9O,0OO to San Francisco
on accoun: of like amount of gold
for shipment to Japan. Gold coin to
the amount of 100000 was withdrawn
from the Sub-Treasury for shipment
to Canada. Gold bars amounting to
81 100000 vas withdrawn from the AS
say Office for shipment to Chile and
100000 for Peru.
The Federal Reserve Bank is now
collecting information regarding pros
pective exports from this country at
the request of the Federal Reserve
Board at Washington. Shippers are
asked to state among other particulars
the amount Of the metal they expect
TO forward and It's destination. This
is in accordance with regulations pre-
scribed in the Treasury Department
governing the shipment of gold and
currency to neutral countries of Eu-
rope.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-08-31
DIVIDENDS
COUPONS

AMERICAN HIDE s LEATHER ";
Coupon No 80. due sept J. 1871. ~. A
first Mortgage Bonds o. The American ~ 80
Leather Company will be paid m ana N'o w
]. by the Equitable Trust Company O Nc"
1881 Wall Street. New York -. -
GEORGE A. HILL TreEarc
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-08-31
Finance Economics
wAYJ STREET OFFICE: Telephone;
Mills Building, IL Broad st. Hanover ebN

three months bills, 413-16 per cent
Gold premium at Lisbon, 90.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-08-31

London Money Market 49, London,
Aug. 50,-Money was in good supply,
closing at 81 per cent. Discount rates
were steady. Short bills, ~ per cent;
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-08-31

Over Over Over

Bank Clearings.-The days clesrings
at New York ard other cities:
Exchanges. Balances.
New York. s5i5,734,8o3 $50, 1886, 300
Baltimore. 6,338256 1.020,5H
Philadelphia. 51,34o,226 6.H7,070