davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1917-12-27
ID. & II. Dividend
Declared for the
Next Quarter Only
Conservative Policy Adopt
ed by Board of Manager'
Weakens Stock

Stock Of the Delaware & Hudson
Company broke sharply yesterday fol-
loving the announcement that the
board Of managers had declared only
q quarterly dividend Of 2h per cent,
instead of a full years dividend at the
rate Of per cent, payable in quar-
terly instalments. as has been the Gus
tom for the last ten years. Like the
directors Of tho Baltimore d ONO,
who last week deferred action for one
month on both common and preferred
dividends. the managers Of the Della
ware & Hudson feel that in view Of
the uncertainty over the future of
railroad operation and financing, a
conservative dividend policy at this
time is expedient.
Delaware G Hudson shares tumbled
TO % on the Stock Exchange, q net
loss for the day Of 3]A points, and
their weakness had a tendency to drag
down other railroad issues. in that
it emphasized the general condition
affecting the securities Of all trans
portation companies in this country
alike. On January 10 last Delaware
& Hudson stock sold as high at 1915;
on November 10 IL sold at 81. low
record for the last thirty years.
The dividend Just declared is pay
able March 20 to stock of record Feb
ruary 26.
The statement given out by the
board Of managers after its meeting
follows:
"The practice Of the Delaware &
Hudson Company for recent years has
differed from that Of other railway
corporations, in that il has been GUS
tOmary TO take final action upon the
dividend for the ensuing calendar T2ar
during December.
For ten years the board Of man
ayers has in each December declared
q dividend of per cent, payable dur
ing the next year in four quarterly in
stalments Of pa per cent. all such
payments 70 be made out Of surplus
accumulative prior to the meeting at
WHICH Lllt NlN lutllu LAOll NNhNai'
"The accumulative surplus of the
present time. as well as the earnings
OF the calendar year. 1917. now avail
able for dividends. would fully war
rant the declaration OF 9 per cent
dividend. payable in the same manner
during 1915.
The board Of managers feels that
the present time is one Of great un-
certainty as 70 all the elements which
will determine cash resources and
cash requirements during the ensu-
ing year. Under these conditions 1t
is plain. without anticipating any fu-
ture action. that it would be wise not
TO commit the company irrevocably to
large cash disbursements to be made
so far in the future. but rather to
follow the general practice of making
dividend declarations quarterly
The Pennsylvania Company, all the
stock of which is owned by the Penn
sylvania Railroad. has declared a diyi-
dend OF per cent for six m.nths,
making a total Of per cent paid this
year. compared with 8 per cent in 1916.
New-York tribune., 1917-12-27
Anent Foreign Government Bonds

In bond market circles no satisfac-
tory explanation for the wide open
break Of week ago in the foreign gov
ernment bonds has yet been found. For
this reason much interest was mani
tested yesterday in circumstantial
report TO the effect that an important
house received an order recently to sell
$4,000, 900 Of the various foreign loan
bonds in this market, including $1,000
coo of the Anglo-Frcnch IS. The or
der. so the story goes. was executed in
q thin market, with the result that the
prices of these issues fell TO low rec
ord levels. Efforts made to ascertain
the identity Of the firm that il said 70
have handled the order and also the
principal on the selling side of the
transaction have proved fruitless. Bond
men who were asked about the report
secuted the idea that the selling order
might have been Of enemy alien origin.
New-York tribune., 1917-12-27
Bond Market Peculiarly Sensitive"

Bond prices moved IN sympathy with
tho stock market trend yesterday
which was downward. Fractional de-
clines were recorded throughout the
railway list, and the foreign govern
ment issues, which underwent such pro-
rounced Improvement few days ago,
were easier again. The Anglo-Freneh 3
per cents OF 1915, which rallied last
week from Sis TO 50, opened at sSAl,
sold down TO S7ii and closed a: S1St.
Among bond men there was a DISPOSE
tion 70 attribute the fresh unsettle-
ment in the bond market to the failure
Of the peace reports Of the last few
days to develop into anything tangible.
The head Of one of the leading bond
houses in the Street pointed out that
the bond market at the moment is
peculiarly sensitive" to peace talk.
New-York tribune., 1917-12-27
Two Judgments Filed
Against Hooking Valley Rv

Two iudgments-one for s2.75z4s5
and the other for sS6,576-aralnst the
Hooking Valley Railroad Company were
fied in the County Clerks Office ycs-
terdsy. The judgments were in favor
of Daniel +. Pomeroy, Walter Buckper
Lewis L. Clark and Stacy G. Richmond
The plaintiffs held two-thirds Of
$500 bonds Of $1,000 each issued by the
KGnawhs and Hooking Coal aud Coke
Company, on which the Hooking Valley
Railroad Company guaranteed payment
The coal and coke company failed 20
meet payment on the bonds. whereupon
the holders sued the railroad company
on its guarantee. The matter was sub
mitted TO ex-Judge George 2. Holi as
referee. and he recommended judgment
fer the plaintifs.
New-York tribune., 1917-12-27
Steel Corporation
Will Offer More
Stock to Employees
Price Will Be Over $40 a
Share Less Than That
Paid q Year Ago

The United States Steel Corporation
has decided to offer 20 its employees
during the coming year $4,000 shares
Of the common stock. +. II. Gary,
chairman Of the finance committee,
stated Yesterday that the >price had
been tentatively fixed, but would not
be made public until on or socn after
January /. 1t is understood that 1t
will be close TO the current market
quotation. Steel common closed yes
terday at s3is.
A year ago the corporation offered
to its employees $4,000 shares Of COM
mon stock at s107 share. when the
current market quotation was around
$40 a share. Subsequent 70 this offer
ing Steel common sold up to 1863, so
that the employees had the opportunity
of obtaining a big profit on their sub
scriptions if they chose to sell.
New-York tribune., 1917-12-27
Dividends Declared

Delaware. Laekawanna & Western Coal
Company.-Rc Regular quarterly dividend Of ga
per cent. payable January IS to stockholders
OF record December 81.
Hononxahsla Valley Traetion.-1his COM
pany has declared dividend OF S7l. cents a
share on the new preferred stock. payable
January 10 stockholders Of record Deem
Der 81. and a dividend Of 3li< cents share
on new common stock. payable January 10
20 stockholders OF record December 81.
Kansas City. Fort sestt 4 Msmphis.--Reg.
New-York tribune., 1917-12-27
The Dollar in Foreign Exchanges

IN the foreign exchange market yes
,crday francs and lire were slightly
easier. Other rates showed practically
no changes Of importance.
Closing rates Yesterday, compared
with a week ago, are gwen in the table
below. American bankers have sus-
pended al dealings IN German and
Austrian exchange. so that daily quo
tations for either marks or kronen are
no longer available.
(nuotad Jo;Iars In the nound
New-York tribune., 1917-12-27
No Changes in
Prices Fixed for
Steel Expected
Surplus Stocks of Pig Iron
Exhausted; Mills in
Scramble

No changes are expected IN the pres
ent schedule OF fixed prices for iron
and steel products in view Of the recon-
mendation made 20 President Wilson
by the War Industries Board, according
to the weekly trade summary of "The
Iron Trade Review" This has caused
much satisfaction in iron and steel
trade circles, since it removes large
element of the uncertainty. 1t IS ex-
pected that an early proclamation will
be issued from Washington covering
the matter.
THE Iron Age" says now that pig
iron surplus stocks in the country
have been exhausted there is scram-
bic for iron that would by this time
have sent prices skyward but for the
government regulation. 1t is estimated
that Central Western steel companies
would now be buying fully 100000 tons
OF basic pig iron to make up their short
ages if it could be had.
More Price Adjustments
Recent rumors of sentiment in a
part Of the Federal Trade Commission
in favor Of some reduction in pig iron
led TO a meeting of merchant producers
in New York week ago, at which a
committee was appointed TO present the
case Of the smaller furnaces. IL was
urged that a reduction in price would
cause some of them to close down and
only aggravate the existing famine IN
pig iron.
The manufacturers committee on
steel and steel products made an i'm
portant announcement OF additional
prices this week, putting forging ingots
at S73 per ton, splice bars and tie
plates at 3.25c per ID, rail steel bars
at &c, steel spikes az 3.90c, iron spikes
at 4.50c, track bolts at 4.90c. and cut
nails at 81 per keg, and fixing schedules
on steel castings and cast iron pipe.
Some of the above products had been
gradually adjusting themselves to the
new market basis, so that the formal
announcement meant no abrupt change.
On cast iron pipe the official si9, Bir-
minghsm, and S55.35, New York, for o.
lncn pipe are DuL AAANNANlAolty bNt"" NAsN
recent market.
The committees action on old ma
terial Is an attempt 20 cope with one
Of the most difficult problems in the
trade. In view of the development that
with a fixed price railroads and other
sellers would deal with consumers di-
rect in order TO get the maximum. the
committee recommends a commission
Of not 20 exceed 3 y per cent TO recog-
nized scrap dealers or brokers. Vari-
Gus forms of scrap not regulated here
tofore are added 20 the official list.
Fuel Shortage Still Exists
The fuel shortage continues 70 give
trouble 20 the iron and steel producers.
In the last week the steel plants of the
Steel Corporation az Pittsburgh and in
the two valleys made about an So per
cent output. Independent companies ran
at from 80 20 75 per cent Of capacity.
As an Offset to the coke and coal short
age some plants A. Pittsburgh and
Youngstown will be idle all of this week
for repairs and stock taking. Chicago
reports the fuel situation unrelieved
and causing much anxiety.
New-York tribune., 1917-12-27
News Digest
New York

PENNSYLVANIA Railroad Leases Line
for ee9 Years.-The Philadelphia,
Baltimore G Washington Railroad,
having been leased by the PennsylYa-
MIA Railroad Company for 999 years
from January !, 1918, its lines will
on that date, become grand division
Of the Pennsylvania Railroad, and
will be designated the Southern Divi-
sion.
The board of directors yesterday
took the necessary action to transfer
to the payrolls OF the Pennsylvania
Railroad Company all the officers and
employees of the Philadelphia, Balti
more g. Washington Railroad, effective
January /, 1918. They will occupy
positions in the organization Of the
Pennsylvania Railroad corresponding
To those heretofore occupied by them
in the organization OF the Philadel-
phia, Baltimore & Washington Rail-
road.
New-York tribune., 1917-12-27

Relevant Comment
Liberty Loan Is Depressed

The Liberty Loan IA broke through
the old low Of % on the Stock Ex-
change yesterday, selling as low as
Q6.7O on q transaction OF oigh. bonds.
The bonds representing those that have
been converted from the 3i1s did not
20 below $500. on the other hand,
tie 2iss were IN good demand, selling
as high as $3.50 and closing at 9S.f0.
Ruyiug IN this issue was reported 20
have come from wealthy individuals,
who are said 20 be aecumu,ating them
because Of their tax exempt feature.
New-York tribune., 1917-12-27
Bonuses

The Battery Park National Bank
announced yesterday that it has con-
tinued the sharing OF profits with en-
ployes on the basis Of 10 per cent Of
net earnings, divided according 20
length OF service. This years distribu-
tion will equal 80 per cent Of salaries
paid TO thos whose term of service has
been ten years or more.
New-York tribune., 1917-12-27
Money and Credit

Money rates were firmly maintained
in quiet market yesterday. There
was substantial demand for call
money at the Stock Exchange, and the
ruling rate on such loans held at per
cent
In the market for loans for fixed
periods only a small amount Of funds
WAS placed. The rate for practically
all maturities on both Industrial and
mixed collateral was per cent owing
to the scanty offerings.
Ruling rates for money yesterday,
follows:
yesterday. Year ago.
New-York tribune., 1917-12-27
Current

The above rates cypress inc cost OF
foreign money in terms Of the Ameri-
can dollar You buy an English pound
sterling at, say, :4,75h. The intrinsic
parity is s4sGts PER pound. Thus, you
say either that pounds are at discount
or that dollars are at premium, which
is owing to She fact that in England
the demand for dollars with which 70
settle accounts in this country is
greater than the demand in this coun-
try for pounds with which TO settle
accounts in England.
New-York tribune., 1917-12-27
Union Pacific Earnings

Gross earnings Of the Union Pacific
system in November were Sl2,2S6,S61,
compared with $S,260,79j year ago.
Due 20 an increase Of Sl,635.603 in
operating expenses, the gain in gross
was turned into a loss Of S667 ,597 in
net
New-York tribune., 1917-12-27
Extra Dividends

Canadian Westinghouse.-An extra
dividend Of l per cent has been de-
clared in addition TO the usual quar-
terly dividend Of IL. per cent. payable
January . to stockholders Of record
December 20.
New-York tribune., 1917-12-27
Battery Park National Bank.-An ex

ira dividend Of ? per cent, payable
January ?, has been declared, in addi-
tion 10 the regular dividend OF per
cent, making - per cent for the year.
The bank will add 100000 to the sur
plus account. raising it to 100000.
New-York tribune., 1917-12-27
Eouitahle to Mutualize.-The offic

Equitable to Mutualize.-The official
count Of the vote cast by the policy
holders Of the Equitable Life Assur-
ance Society shows that upward Of 90
per cent of the policy holders are IN
favor of the proposed plan Of mutual
ization. The State Insurance Commits
sioncr announced yesterday that the
total valid vote OF the policy holders
was SS,I26, Of which s4,964 were in
favor of the plan.
New-York tribune., 1917-12-27

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., 1917-12-27

Corn Exchange Bank.-A special
dividend of per cent, payable Ianu-
airy 7, to stockholders of record at the
close of business January ., has been
declared by this institution.
New-York tribune., 1917-12-27

Silver-Bars in London, 45Ssd, un-
changed; New York. S65sc, unchanged;
Mexican dollars, 6Siac. unchanged.
New-York tribune., 1917-12-27
Z Commercial Paper

Commercial Paper.-Buylng OF com
mercial paper was on a limited scale
yesterday. Rates were unchanged at
5ia per cent for the best four months
paper and So per cent for six months
maturities.
Official rates of discount for each OF
the twelve Federal districts are as fol-
lows:
New-York tribune., 1917-12-27

Federal Dyestuffs and Chemical
The company's noteholders' protective
committee has set January % next as
the time limit 70 receive the deposit
Of additional notes in the steps taken
20 take care Of the noteholders' in
tcrcsts.
New-York tribune., 1917-12-27

Appointed Trustee Under Big Mort
gage.-The Irving Trus. Company has
heen appointed trustee under the new
Sl6,0OO,00O Curtiss Aeroplane and
Motor Corporation note issue.
New-York tribune., 1917-12-27
New Stock Exchange Listings.-

New Stock Exchange ListIhgs'-I He
governing committee OF the Stock Ex-
change has admitted 10 trading si2,-
15O 600 temporary certificates for the
referred stock of the J. /. Case
Threshing Machine Company; '50o,00o
additional ccmmcn stock of the Hack
enssck Water Company. and s7S6,60O
additional common stock Of the Cen
eral Chemical Company.
New-York tribune., 1917-12-27
Bank Clearings.-The days clearinsi

Sub-Trea York banks lost
70 the Sub-Treasury $4,000.
New-York tribune., 1917-12-27


Call money. % 4 Z.
Arizona republican., 1917-11-18
THE FAIR OVER SOCIAL EVENTS
 ARE RESUMED

After the most festive week of the wear. society will once more take up its regular routine war time diver eions. The fair overshadowed of course any event Of the early autumn season and with the many visitors in town to entertain the days passed merrily. Had it not been for the sale of Red Cross Rosies and the Council of Defense eX- hibit. this might have been IS any ether fair-e&cept that it was far su- uerior. The people outnumbered those here in the past. Society attended as usual and box parties were as gay or saver than those of last year-more interesting from every viewpoint.
 The fair was hardly over before ar rangements were made for the calen- lar for the coming weeks. The days from now until Christmas will be not ahle for the number of benefits given for the Red Cross, the French Orphans and the Associated Charities. 1t is to he a winter devoted to affairs of this kind and generous public will recog- nlze the necessity of making each and every event a pronounced success.
Arizona republican., 1917-11-18
War Dance Will Be Given
 at M.onasn's Club on Friday

Now that the rush of the fair is over society will give it's almost undivided attention 10 the war needs. An event CT more than ordinary interest is the dance 10 be given for the pet project ot Mrs Sims Ely Jr,-the French war orphans. The affair will be given at the Womans club on Friday evening and no invitations will be issued. Mrs. ElS. who has the arrangements in charge, wishes the event to be most informal and 5s eager that there be a
 large attendanCe at the war dance. She has secured excellent music and a very delightful daSnce program is being prepared. For soiue time she has con templsted a functian of this kind and for this purpose, btzt the needs of the local Red Cross have been so insistent
Arizona republican., 1917-11-18
Club Dinner Dance
 A Delightful Event

The dinner dance at the Country club Thursday evening was one of the especially delightful events of the fair week season. Among the many there were MT. and Mrs. Sydney J. Ross, MT. and Mrs. Donald Dunbar MT. and Mrs. John H. Page, Mir. and Mrs. W. J. Kingsbury, MT. and Mrs. C. E. Howard
 MT. and Mrs. Barry Goldwater, Dr. and Mrs. Robert Brownfield, Mir. and Mrs. Phil Lewis. MT. and Mrs. Webb Griffin. Mir. and Mrs. Harold Bennett MT. and Mrs. Paul Bennett, Dr. and Mrs. Kim ball Bannister, MT. and Mrs. Stayton Doris. Dr. and Mrs. John LentZ, MT
 and Mrs. Roy $. Goodrich, Dr. and Mrs
 Robert Wallace Craig, MT. and Mrs
 Paul Bennett, Mir. and Mrs. Jack Row lands, MT. and Mrs. Chester Dana Reed, MT. and Mrs. Charles Pishon
 Mrs. John R. Hampton, Mrs. Harry
Arizona republican., 1917-11-18
Mir. and Mrs. Guy Alsap Are Hosts at Rose Tree Dance


 MT. and Mrs. Guy Alsap gave an in formal dance at the Rose Tree We'd nesday evening followed by a supper at down town cafe. Those who en- 1oyed their hospitality were MT. and Mrs. Arthur K Doe, Mr. and Mrs. Fred Webber Mir. and Mrs A. G, Dul- mage, MT and Mrs. E. J. Doyle. Miss Hazel Davis, Miss Abbie Edwards Sylvan Gang and William E. Ferguson. MT. and Mrs Ira J. Johnson gave an informal dinner Thursday evening in honor of MT. and Mrs. R. L. Gibson who were here from Douglas for the fair
 MT. and Mrs. Cleo White of King City, Mo, who were the guests of MT and Mrs. Herman Perry De Mund for fortnight have returned to their home.
 MT. and Mrs. J. Link Smith of Hum- boldt are the guests of MT. and Mrs William Perry Sears. They timed their visit for fair week and will extend their stay another seven days.
 
 Mrs Homer King received a cordial erecting from her legion of friends on her arrival from the north early in the week. The regrets are many that the popular matron is returning to her home in Prescott tonight.
 MT. and Mrs. A. G. HuIett Are Hosts for Visiting Friends MT. and Mrs. Fred F1eishman of Tuc. son were charmingly entertained bJ MT. and Mrs. Arthur Gibbons Hn1et, last week. when they were here fo, the fair. The Huletts gave an informa dinner in honor of the visitors Wed. nesday evening
 Mrs. E. M. Guild and Miss yarn, Ihumm of Florence were the fair wecl visitors of Mrs. Joseph H. Kibbev !
 Mrs. John Wilson of Ray was tb, guest of last week of Mrs. Stewar Griggs of the Blenheim apartments Delightful Dinnor | Given Gleason Guests Mir. and Mrs Otho Handley gave
Arizona republican., 1917-11-18

land street, are domiciled at the Sun court apartments.
 
 Jack Griffin, the popular young son of MT. and Mrs. James $. Griffin, is passing the week-e end in town from the Flagstaff Normal. He will pass the Christmas holiday season at home and a number of jolly, informal events are already being planned to make his return visit pleasurabie.
 
 Mr. and Mrs. Daniel Francls are again at home after a regrettably long absence in Flagstaff.
Arizona republican., 1917-11-18

ly and Alr and Mrs. Robert Porter of Jerome Mir. and Mrs. Fred Golfer and Miss Effie Adams of Quincy.
 A particularly pleasant event of the
Arizona republican., 1917-11-18
Cii i 1EY

early week was the house party at Cave Creek over Sunday In the party were MT. and Mrs. Garrett Schullar, Mr and Mrs. Frank Slaker and Miss Fife Adams.
Arizona republican., 1917-11-18
Fair Flagstaff Favorlte The Motif for a luncheon

Mrs JOhn O'MaIIeV made MISS Blanche Riordan of Flagstaff the in spiration for a charming affair Thurs day when she entertained with a luncheon at the San Marcos followed by a box party at the races. Asked to meet the interesting visitor were Mrs. Charles O'Malley. Mrs. C. F. Howard, Miss Ellen Carpenter. Miss Betty Brown of Long Beach Miss Ethel Me Dermott, Miss Elma Tolleson. Miss Mary Lloyd and Miss Mary Josephine Ceilings.
Arizona republican., 1917-11-18
that she did not feel she could give her time from the service work.
Mesdames Lewis and Hathaway Honor Guests at Informal Affair


 Mrs Thornton Lewis and Mrs. Harry Hathaway of White Sulphur Springs, who were members of the house party given by MT. and Mrs. J W. Doris of Casa de Rosas during fair week, were the guests of honor at an informal af- fair given by their hosts on Wednes day evening. The visitors who arrived with Mir and Mrs. William Harrison Lewis on Sunday from San Francisco, left Thursday for Virginia, where MT. and Mrs. Lewis will visit them during the holiday season. In the meantime they will remain in Phoenix to the great delight of their legion of friends.
 Society was largely represented in the smart audience at the Woman's club Wednesday evening when the Junior Guild presented a clever cast in Girls There were any number of theater parties and practically all the young folk remained for the jitney dance that was given at the conclusion Of the performance
Arizona republican., 1917-11-18
Gives Dinner at Club
 in Honor of Visitors

MT. and Mrs. Garrett Schullar gave smartly appointed dinner at the Ari- zona club Wednesday evening. their guests being MT. and Mrs. Robert Tal-
Arizona republican., 1917-11-18
Miss Anna Rohrig Incentive for Informal Tea Nadn.ed-,,

VT ''''ol 'FI~I Sa Weunosday
 MISS Anna Rohrig. of Upands. who IS the guest of Miss Mary Wheat, was the incentive for an informal tea given by Miss Wheat on Wednesday aftAr- noon. Those there were Mrs. A p Anderson, Mrs. D. F. MorreH. Mrs Emma Jack. Miss Elizabeth Atwood [ Miss Dorothy PickreH. Miss Helen Haldiman, Miss Ellen Humphrev Miss Eleanor Wallingford. Miss Verna Young, Miss Harriet Snodgrass and Miss Ellen Atwood
Arizona republican., 1917-11-18

Jones, Mrs. Carlton Wood. Miss Kitty Craig, Miss Blanche Riordan. Miss Georgia Mintz. Miss Mary Lloyd, Miss Henrietta Olney. William Coleman Rogers. Sam Wilson, Joe Cassou, Charles Pope and Allan Larkin.
Arizona republican., 1917-11-18
Fl Navarro Club Enterta;ns With a Most DeIiqhtfuI Dance

Members of tre junior set gathered at the Woman's club Friday evening when the Fl Navarro club entertained with its initial dance of the season. The affair was one of the few events or the week given exclusively for the Juniors and was delightful in every detail.