New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-04-19
Relevant Facts

Republic Iron and Steel. A. Top
ping, chairman of the board of di-
rectors. at the annual meeting Of the
company yesterday told the stockhold-
ers that the whole industrial plant OF
the corporation is being operated at
top speed. but that facilities had been
embarrassed TO some extent by the
transportation difficulties, cmbargoes
and the labor shortage
"All our new construction work mas
been finished he said, except one new
blast furnace. which will be in opera
ton in about four weeks. The high
cost of everything prohibits any new
construction work being started now.
War time is hardly time TO build
Announcement was made that the
directors had adopted a new policy
with respect 10 publicity of operations.
ION and after the next meeting of the
board of directors we will issue quar-
terly statements of income" said Mr..
Topping. "Save that the corporation
had been in 4 process Of reconstruc-
ton ever since the present admnistra-
ton took hold of it We would have
followed that policy earlier. Now that
we have rounded out of operations. !
feel that we can with greater consls-
tency issue reports of that kind"
The stockholders adopted the follow
ing resolutions: Resolved, that the
thanks of the stockholders of the Re-
public Iron and Steel Company are
hereby extended to their most able and
hard working chairman, John A. Top
ping. and his excellent staff of assis-
tants. who have removed their stock
from being the football of spectators
and who have made it the pride and
hope of its fortunate holders"
Retiring directors were reelected By
the largest vote ever cast at an annual
meeting of the company. OF total of
5219lO shares outstanding 1853, 492 were
voted.
Boston K Maine Judge Morton, Of
the United States District Court, at
Boston yesterday authorized James ii.
Hustis, receiver for the Boston Maine
Railroad, to pay the interest on 81
600 900 of notes of the Connecticut
River Railroad, one of the leased lines
of the system. The payment had been
opposed by certain stockholders on tne
ground that the notes were not valid
obligation. The Connecticut River
Railroad. however.s commended that fall-
ure to pay the interest would result IN
cancellation OF the lease. The court
held. without deciding the controversy.
that it was the duty of the receiver 70
preserve the property.
A cash balance of $7.902,69 for the
first months Of his receiyership was re-
ported by Mr. Hustis TO the court. This
decrease of 1871 ,698 from the cash on
hand at the beginning OF the receiver
ship is said to be due TO heavy ex-
penditures. The total receipts for this
period. which ended March |, we're 500
5s7375. Total disbursements were S42.-
684,6SO.
Columbia Gas 4 Electric. Reports
for March gross earnings OF Sl,Olhlo1'
an increase Of Sl0i.307 over the cor
responding month of 1915 Net after
taxes amounted 20 S53l.l6 an in
crease Of $23,045. The companys gross
for the first three months OF the cur
rent year totalled SO, 1850, an increase
OF $4,000 over the corresponding
period of last year. while net AFTER
taxes was Sl.732,960, an increase OF
s273.96S.
Motor Shares Weak. Weakness OF
the automobile shares was one OF the
outstanding features OF yesterday
stock market Studebaker lost ga
points on the days movement, closing
at San after selling down TO S3's
on dealings OF nearly 10000 shares.
This was the lowest price the stock
has touched since 1915. when II sold
at 35i4. Since then it has gone as
high as 1876. General Motors common