davidaulloa/AmericanStories huggingface dataset:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-10
Cancellation of
Steel Contracts
Not a Necessity
Trade Authorities Say Gov
eminent Needs Will Be
Met by Voluntary Action

Reports from Washington 10 the e.
feet that the output of every steel mill
in the country will be diverted TO the
uses Of the government in connection
with the building of a merchant fleet
ID cost 81 1000 100000, thus necessitat-
ing cancellation of existing contracts
with private consumers are character
lied by "The Iron Age" as hys.erical.
"The fact is says this authority,
chat no such drastic action has been
determined upon and it is not improb-
able that the needs of the Shipping
Board will be met by the voluntary
action of the steel trade.
at is certain that under the new
Shipping Board programme for meet
ing the submarine peril as quickly as
possible, plate and structural mills
must furnish in the next year more
than the $4,000 tons already arranged
for by the government; but that would
no. mean of necessity a wholesale can
collation. of present orders even in
those two lines. At the same time it Is
becoming palmer that the enlarged
merchant vessel programme, the needs
of the army and navy, and the much
greater demands of this country's al
lies will cause more or less readiust-
ment of output and a greater concen-
tration on war material.
THE steel trade has been putting
forth every effort to meet government
requirements as fast as these have de-
veloped. but the uncertainties are many
and are not being cleared up, hence
steel mills, particularly those rolling
plates, shapes and bars, can entertain
new business in only limited way"
The Iron Trade Review" says:
with the market so largely sold up,
inevitable establishments OF private
trade to the new order of things are
proceeding, but so far have not caused
any serious disturbance. The belated
opening of lake ore traffic. which is the
most delayed in many years, looms up
as a new factor in the realm of future
raw material supplies with which the
present high-geared iron production
eventually may be obliged to reckon.
1t is estimated that the ore season
starts 100000 tons behind 1916
Activity continues to characterize
the pig iron market all over the coun-
try"
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-10
WRIGHT-MARTIN AIRCRAFT
ALTON
NOTICE OF SPECIAL MEETING or
STOCKHOLDERS

NOTICE OF SPECIAL MEETING or
STOCKHOLDERS
To the Stockholders OF Wright-Narta
Aircraft Corporation.
NOTICE IS HEREBY GIVEN that ~
cial meeting Of the Stockholders OF Wrs.''
Martin Aircraft Corporation. a corporst1
OF the State 81 New York. Will be he'd
he once OF the Corporation. Room zoo q
Broadway Borough of Manhattan. Cr,
County and State u New York. on the IN
day OF May, 1917. AZ l. o'clock noon. 70
transact the following business. 70 VII
To take action respecting the following
proposed amendments OF tho Certificate q
Incorporation % the Corporation. namely
To increase the number ~ shares OF com
mon stock Of the Corporation from nys
hundred thousand (500.OvOJ shares without
nOmina! OF par value, 20 oG rallies
Il 900 O00) shares Of common stock vltaoV
nominal or par value. and 70 Increase ~
amount Of the stated capital of the cor
pOratiOn from seven million i've hunofh
thousand dollars 81. 500. 000p 20 ten millti
dollars $50 900, 000). 50 that articles ~.
cate Of Incorporation ~ the corporatA
VIII read as follows.
Third The number of shares 81 stoef
that may Dc issued hy the corporation
one million nfty thousand tl.poo.oo0), n
which hftv thousand 100000 of tks
amount or par value Of one hundred do
lars $1,000 each are 20 be preferred STOCK
and one million N,0N0.0Q0) shares are 70
be common STOCK WliNOAA any h'Hiiudi "
par value.
THE holder Of preferred stock shall
have the right al any time 20 conUtr;
the same into common stock twithog
any nominal or par valueJ 81 the cor
poration a. tho rate - ono share Of pre-
ferrcd stock for two shares OF common
stock and for that purpose the corpora'
ton shall reserve Out OF tho above az
thorized issue % common stock share
to the aggregate number OF one hundred
thousand 600 .000) Such right Of coz.
version shall be exercised by the surren
der for cancellation Of certificates for pre-.
ferred stock so 10 be converted, and u
any such preferred stock shall be called
for redemption the holder thereof shall
have the right 20 elect either 10 take ne
fixed redemption price Of such preterfed
stock or 20 convert tho same into shares
Of common stock as Aforesaid. but suen
right to- convert must be exercised a.
or prior 10 the date fixed for me re-
demption Of such preferred stock
sixth. The amount Of capital rhh
which the corporation Viii carry on bus
ness is ten million dollars tSl0.09e,sp9i
and to transact such other business as may
properly come before the meeting.
By order OF the Board ~ Directors
GLENN +. MARTIN Nice-Prcsidef
W J. NIXON. SetrefarN.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-10
New York

Stock Exchange Firm Assigns. Ar
thur VI. Sherwood and Frederick II.
Tate. stock brokers. assigned yester-
day for the benefit of creditors TO Ar
chibald r. Watson. The inability Of
the firm to meet their obligations was
announced on the floor of the New
York Stock Exchange on Monday.
Newly Listed Securities. The New
York Stock Exchange has admitted the
following securities to the list: Kings
County Electric Light and Power Com
pany S2,500000 per cent convertible
debenture bonds, issue of 1918, due
March /. 1925: Cincinnati Gas and
Electric Company. Sl.936000 first and
refundng mortgage per cent forty
year sinking fund bonds Series A. due
April !. 1856; Superior Steel Corpora
ton. SO 500 900 temporary interchange
able certificates for per cent con-
vertible first preferred stock and &c.
100000 temporary interchangeable GER
tifcates for common stock; American
Ice Company. Sl4,920200 s per cent
non-cumulatlve preferred stock and
$716l 400 common stock: Loose iles
Biscuit Company. $4,239,400 stock trust
certificates for common stock stamped
extended to May s. 1922; Burns
Brothers, S1.375,OOO common stock, and
City of Paris. S5O.OOO,O00 five-year 6
per cent bonds, due October 10, 1921.
II. e.. ). Noble Commended. Resolu-
tions were adopted yesterday by the
governing committee Of the Stock TX
change expressing appreciation of the
services rendered By II. G.. 5. Noble
as president Of the organization dur
ing the last year.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-10
New Haven Directors
Commend Howard Elliott

In formally accepting the resigna-
tion of Howard Elliott as president, d.
rectors of the New York. New Haven e.
Hartford Railroad yesterday adopted
resolution expressing their apprecia-
ton Of his Extraordinary service to
the company"
eve congratulate ourselves" says
the resolution, that he does not leave
Us entirely; we congratulate the coun-
try that in resigning the presidency of
the New Haven road he transfers his
services and powers to a still wider
field of public activity, to meet emer-
gencies with which he is, by nature and
training, prominently fitted TO deal"
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-10
Guatemalan Trade for 1916

Advance figures give the total for
eign trade Of Guatemala in 1916 as
Sl7,336,76l United States gold, of which
Sl0.6l7 .295 represented exports and
S6,7l9, 1865 imports. The exports from
Guatemala to the United States, ac-
cordng 20 customs statistics. were val
ued at SS,66S,573. Coffee constituted
the chief article Of shipment, the value
being s6.30l, 1897, followed by bananas,
valued at Sl,O35,427, and hides, over
100000. In imports the share Of the
United States was s5,22s,S97. or 77.7i
per cent of the total imports. Exclud-
ing articles classified as miscellaneous
in the customs record, the chief import
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-10
Local Banks Hold Large
Amount of British Credits

Credits advanced to the British gov
eminent by American banks and still
outstanding amount to approximately
$500 100000. The credits are not to be
confused with the credits recently adj
vanced to Britain by the United States
government.
It was stated yesterday that the
banking credits outstanding. most Of
which were negotiated with local bank
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-10
Money and Credit

Rates on time loans based on brokers
Stock Exchange collateral were un-
changed yesterday, but a firm under
tone characterized negotiations for
loans, owing to the scant supply Of
funds offered ty lending institutions.
borrowers were bidding per cent for
loans based on industrial securities as
collateral, while the rate for loans Sc
cured by a mixture Of rails and indus
trials was Az to ; per cent for all
meturities.
Call money at the Stock Exchange
was in generous supply and the ruling
rate was 224 per cent, a small fraction
above the preceding day. Some loans
were made as low as ? per cent, and
n few on a per cent basis.
Ruling rates on money. yesterday.
compared with year ago, were as fol-
lows:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-10

Passing the risk to another in this
way at such time as the present Is,
to say the least, unpatriotic. That
point is convincingly set forth in a
letter just sent out by Stock Elk
change firm, A. A. Housman e. Co.
II says:
LET US not deceive ourselves.
Let us not misunderstood the nature
of our undertaking.
at is up TO us to defeat Germany.
1--WE shall have to see it through
if it takes twenty years and reduces
every man and woman in the land TO
a condition of voluntary servitude.
"There is no sacrifice we can hest
tate to make, because unless we de
feat Germany we shall have to pay
the cost of the war in the form of
indemnities TO the victor, and that
would mean involuntary servitude.
when We shall have made up our
minds to this, then Germany already
will be beaten potentially. Our re-
sources are unlimited. Our powers
of production are greater than any
thing we have yet imagined. We
could, if we. would, build one hun
dred ships a day; we could, if we
would, quadruple our agricultural
output.
I'VE will defeat Germany.
This every man must believe who
believes in the future of his country.
1t must be the primary article of
faith. Without it we are lost. With
it we arc saved.
Zone may say: why, yes; that's
all true. believe every word Of it,
And having so declared ones faith,
one may 90 the next minute into the
market place and offer a portion of
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-10
u. S. Treasury Finances

Washington, May 9.-The condition
OF the United States Treasury at close
to-day showed: Net balance in general
fund S54.757,198; total receipts. ST.
2s2.e29; total payments, N.23S.s23.
The deficit this fiscal year is $685.
2e0,757. against a deficit Of S51 ,638,726
last year, exclusive of Panama Canal
ard public debt transactions.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-10
News Digest
Foreign

Russian Bonds Weak in London Mar
ket. London. May 9.-The stock mar
ket developed a somewhat quieter tone
and an irregular tendency on war news
and the issue of another New South
Wales loan Of $4,000 900 which checked
any improvement in gilt edgers, but oc-
casioned no offering of stock. Rus
sian bonds were weak on the political
situation Argentine rails and Grand
Trunks were dull. but Mexicans con-
tinued upward. De Beers was feat
ure on Paris buying. Oil and gold
mine issues ruled steady.
The American department dropped a
fraction and closed dull.
Money and discount rates were firm.
Money was quoted at "a per cent. Dis
count rates for short bills. ll-16 per
cent; three month bills. "a per cent.
Gold premiums at Lisbon, 50.
Paris B0urse Paris, May 9.-Trad-
ing was quiet on the BOurse to-day.
Three per cent rentes, 81 francs 40 cen
times for cash; exchange on London,
27 francs 2Ol2 confines; ; per cent
loan. 81 francs so confines.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-10
GREENE CANANFa COPPER co.

g. Broadway. New York. y Y. -,
The Board ~ Dirocfon ~ the Greene NnlS"
Copper Company has dcr'ar~l dividend -
per share uDou its Capital Stock o. no par ~
Of 500 90 per share payable on May p "a ~.
20 the holders % such shares u feorl "a
close n business az 90 O'clock J.. ". fnon'
MAY H. 1911 Tie dividend is payable ony ~
the 500 90 shares into which the 'sptA -
e divided All stockholders who have " ~,
vcrfed their holdings into sbsrs u Sl@ " =
value should DO 30 without delay !. 0o0 ~
they may receive thcir dividend promptly.
Tie transfer books viii nor be- ciQ-ei -.,
". ALI.EN. ifee1r'
New York Arrtl IS 1917
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-10
Elections

W. II. Bremmer, recently appointed
acting president of the Minneapolis &
st. Louis Railway Company, in place
of +. l.. Brown, who was obliged 20 re-
tire on account of i'll health. has been
elected president. F. b. Townsend,
traffic manager, was elected vice-presi-
dent in charge of traffic, and +. NJ
Miner general attorney. was appointed
general counsel. to succeed Mr.. Brem-
mer.
Stockholders Of the Standard Screw
Company, at the annual meeting,
elected John G. Lewis aud Robert II.
Shut directors. TO succeed Henry
Russell. resigned, and the late S. S.
Leonard.
The General Electric Company. at
the annual stockholders meeting,
elected A. w. Burchard an additional
director, increasing the board 20 four
teen members.
Seward Prosser. president of the
Bankers Trust Company, has been
elected a director of the Pacific Coast
Company.
Bennett L. Gill has been elected a
director of the Manhattan Life Insur-
ance Company.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-10

- vail street 80
COMMON STOCK DIVIDEND NO
y y. cts. May 9Th. ~.
Tho third installm.nt of Two Per -.
(2,cl &C. In cash and ics boz stock OF ~, ~
Eight Per Cent eeD dividend upecin 80
Common Stock u the standard M W.,
Company which was declared on Oc, 80.
25th. 1916. will b" payable on MAY :,
1917 TO the Common Stockholdfrs -
record at the close OF business on May -"
1917 -
Checks and certificates vill De mans
JOS. A KNOX Treasure
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-10

ing houses some time ago. are m the
form Of demand loans secured by, inc
deposit of large amounts Of America
securities. It is understood that inc
British bankers have so far taken no
action toward paying of these tempo
rary loans. although part Of them VIII
nrobably be iquidated before long.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-10

foreign money in terms of the Ameri-
can dollar. You buy an English pound
sterling at. say. S475i2. The intrinsic
parity is 1865 per pound. Thus, you
say either that pounds are at a dis
count or that dollars are at pre-
MUM. which is owing to the fact that
in England the demand for dollars
with which to settle accounts in this
country is greater than the demand in
tins country for pounds with which TO
settle accounts in England.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-10
srANDARD MuIING COMPANY

40 Wall Street
PREFERRED STOCK DIVIDEND ~. -
y !. city. May 9th. lsl.a
The Board ~ Directors or Nte.,o'-i,
dfvidcnd OF one and hall 49, ~.
cent upon the Preferred stock OF ,.r
Company. payable OUT Of the eaInl.ss al
the current fiscal year. on May slsN IN,
60 Preferred Stockho.ders 81 Feoso'
close ~ business on May 2ist. 1871
Ine ENnN Ir.aslr--
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-10
Relevant Facts
wright-Martin Aircraft Corporation.

A special meeting of stockholders is
scheduled to be held May "a for the
purpose of authorizing a change in the
common capital stock from 100000
shares Of no par value to 100000
shares Of no par value. The additional
100000 shares will be offered to share
holders at So a share to provide new
working capital. John Y. Alvord, pres
ident Of the Hendec Manufacturing
Company, is expected to head the com
pany
Cerro De Pasco Mining Company
The directors have declared an extra
dividend Of 50 cents a share, in addi-
tion to the regular quarterly disburse-
ment Of 81. At the annual meeting of
the stockholders yesterday the retir-
ing directors we're reelected. In an
swer to a question of stakeholder it
was stated that II would be impossible
to make an estimate of the probable
life of the cOmpany's South American
mines, because the amount of ore is
too large to estimate accurately the
amount of the reserve. Cerro De Pasco
shares on the Stock Exchange lost
small fraction on yesterdays dealings.
closing at 33l5.
Ajax Rubber. Although the direc-
tors declared a quarterly dividend Of
Sl.50 per share. placing the stock on
an annual basis of sc. it declined
sharply yesterday. closing as points
Off at g. The market for the stock
appeared TO be thin. the decline oc-
curing on dealings Of only 800 shares.
Canadian General Electric. - Net
earnings for the year ended December
81, 1916, according to the annual report,
amounted to S2.225,9l2, which was ST.
O06,39s in excess of those in 1915. After
deducting preferred stock dividends,
the surplus available for the common
shares was equal TO 10 per cent, com
pared with less than S per cent in the
preceding year Total surplus as Of
December 81. 1916. was $i.112,696, of
which 100000 was added TO reserve.
which now stands at S3,500,000, or ST.
100000 more than the entire amount
of outstanding preferred stock. Sur
plus, including reserve account and
profit and loss credit balance, totalled
S4112.696.
s. II. krcss. Sales for the month of
April amounted to S1,406,S36. an in
crease of SS5,10 over the correspond
ing month in 1916. From January to
April 30 total sales were $4.6S3. 65l, a
gain of S599,213 over the corresponding
period year ago
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-10
vrsrrRN RAILWAY GO.

ousr'erly dividend az OH PR ttNi ~ .,..
Adjustment Preferred Stock % ne Ooml ~,
Die a. tho ONCE o. The Company 80 -. ~
MAJ 10 1917 10 the Adjustment Pr,isrco a.
holders as registered Al tie clese X pu'n'''
% 1911 Ell ALDEN. ssrsi7
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-10

into Guatemala from the United s~ 50
was cotton goods valued at ss's. s,s.
followed by -four amounting 10 W
500. In
The total trade Of the eoun'si ;eh
1915 was valued at si5,53s,124, o. nd
sIl .5s6.5S5 represented exports srts
SS.e73. 1889 imports. In 1914 the '''P~
amounted to S7,S4S,5as.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-10

pended all dealings i'm German and
Austrian exchange. so that daily quo
tations for either marks or kronen are
no longer available.
Week
N.r4rrI.. auo
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-10

Below is given the cuiPcnt exchange
value Of foreign none 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, 1917-05-10
DIVIDEND NOTICES
THE DOME MINES COMPANY, Lid
Far value $1,000
GO Personal Liability
Executive Offices
No 43 Exchange Place. New YORK.
DIVIDEND NOTICES

No 43 Exchange Place. New YORK.
May 7. 1911
The Board OF Directors have this oc
declared a Dividend OF 2izes (Twenty.sr
cents per share payable June lst, isI'
shareholders OF record az the close "
business on Saturday, May -. 1871
j. r. DeLAMAR. President and Treasurer
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-10
Commercial Paper. This

NOTUT1tTVIdI dVtI. HIH IIIdI ~
seems to be firmly established oil .
per cert basis. the rate at which most
of the best paper is moving at the pres
ent time. Trading yesterday was re-
stricted chiefly because of the reluct-
ance of institutions TO make purchases
with the government financing over
hanging the money market.
Official rates of discount of each of
the twelve Federal districts are as fol-
lows:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-10
IN. yale . Tovne Manufacturins ComPs'

A special dividend. No 50. or nFe - 81
t5c,D has been declared by the be 500 v,y
Directors out 81 past earnings, pay Ap l',.s Z,
2lst. 10 stockholders OF record AZ the '''
business May lfth. .. ,.-.,.r,.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-10
Corporation Returns
Tononah ReImort Deyelonment Re

TonOpah Belmont Development. Report
for the fiscal year ended February IS. 1917.
shows surplus earnings of 81 .24j. 600. equal
TO 50 cents share. earned on l.500,000
shares Of capital stock. The report compares
as follows:
1917. 1916.
Total income st,436,473 s1.o47.767
Exp. tax. dep. etc. 1888 46.74o
Surplus .............. 1,245.ooo 1000. o27
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-10

Sub-Treasury. - New York banks
lost to the Sub-Trcasury $6,946,oO0.
Silver Bars in London. 37iS cents;
New York. 74@i cents; Mexican dollars,
81 a cents.
Gold Currents. Gold TO the amount
Of $4,000 900 was received from Otta-
wa yesterday and deposited at the Sub
Treasury TO the account Of j. r. Nor
gan & Co. Withdrawals at the Sub
Treasury included $4,000 in coin for
shipment 20 Spain and $4,000 for
shpment to South America.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-10
Fractional Lot Service

Orders executed in any amour, Of Stocks
and Bonds for cash.
We carry 10. 20 or 50 share lots Of sea
soned. safe stocks, dealt in on any OF the
Exchanges, on margin.
On the Consolidated Exchange all our
orders. reports and quotations are transmitted
by signal. aaording instantaneous service.
Certified accountants statement OF audit
Of our books published quarterly.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-10

Bennett L. Gill has been elected a
director of the Manhattan Life Insur-
ance Company.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-10
Days
Over Over Over
IS or 16up soup sour
I.ase IN 20 To 60 TO 90

Bank Clearings.-Thcd days clearings
at New York and other cities:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-10

S. II. kress. Sales for the month Of
April amounted to s1,4O6,S36. an in
crease of $3.50 over the correspond
ing month in 1916. From January to
April 80 total sales were S4,6s3. 651, a
gain of S599,2l3 over the corresponding
period year ago.
The Cordova daily times., 1917-09-22
INDIANS MAY SUFFER
 FOR FOOD THIS YEAR

The Copper river Indians caught no fish for their winter supply of food this year, owing to gill nets being stretched by fishermen across the Cop per river, which kept the fish from running up the river This will be a great hardship on the tribes living at the headwaters of the river, who depend upon the fish for their win ter's supply of food for themselves and dogs, and local authorities fear that a famine will prevail.
The Cordova daily times., 1917-09-22
CLAIMS RIFLE. |S BETTER THAN
 BOMB
fBy United Pressl

LONDON, Sept 21. - Some peo- ple." said the sergeant, "are bomb doty. I've heard tell of chaps at the front coming away from a shell hole because they used up all their bombs. though they hadn't fired a shot from their rifles.
 "And then there's people thinks that nothing matters but artillery or tanks or gas helmets or bayonets or any old thing what they happen to take a particular interest in. Now, I am not a blomin specialist; I'm a sol. dier; and I say the rifle is the first and foremost weapon that the soldier has to use.
 Bombs are all right when they hit the Huns of course but bombs has their limits. Bombs is heavy to start off with, and you have to be a hell of a chap to hur1 one with aeeu- racy more than sixty or seventy yards. It ain't like that with rifle. A bullet ain't as heavy as bomb, and it goes a darn sight quicker. While you are fooling about with a bomb you can have a bullet in that Hun, and what is more, let me tell you, the Hun can't catch tine bullet in his hand and hurl it back at you, same as some of them have done with bombs
 When you hear anybody running about saying as how the rifle has been superseded by bombs or some other stunt like that, just you laugh. Of course if it's an officer that says it, you needn't laugh too ostentatious, but laugh all the same. Sort of mentally, see!"