davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1917-07-25

Saxon Motor Co.
Passes Dividend
Action Taken to Conserve
Cash Resources; Stock
Declines

Directors of the Saxon Motor Car
Corporation, at q meeting held in De-
troit yesterday, voted to pass the quar-
terly dividend of ~ per cent on the
100000 capital stock outstanding.
This followed action taken at the
meeting on June IS to defer the pay
ment pending yesterdays meeting.
After the meeting Harry W. Ford,
president of the company, said that
the action was taken in order to con-
serve the cash resources of the corpo-
ration. 1t was stated, in addition, that
orders were showing improvement
again, and that the outlook for busl-
ness during the remainder OF the year
was favorable.
The Saxon corporation began paying
dividends on the stock in July OF last
year, when an initial quarterly dis
burssment of IA per cent was de-
clared, or at the rate or per cent a
year. At the September meeting the
dividend was raised to Ia per cent, or
7 per cent a year. Early this year
the company suffered large loss by
fire at its plant. Subsequently, the
entrance of the United States into the
war hit the business of the corpora
ton a hard blow. Last year Saxon
stock sold as high as sS7 a share on
the Stock Exchange. 1t began to de-
cline early this year, and has fallen
from s68 share in January to s16
on July 8. Sales were made last week
at SIT share. There were no trans
actions in the stock yesterday, the
announcement Of the passing Of the
dividend coming after the close of the
market.
New-York tribune., 1917-07-25
Dividends

West Penn Traction & Water Power
Regular quarterly dividend OF li2 per cent
on the preferred stock. payable September 10
TO stockholders Of record September o.
Hood Rubber.-Regulsr quarterly dividend
of l4 per cent on the preferred stock, pay
able August l TO stockholders OF record
July 20.
West Penn Ranways.-Regular quarterly
dividend OF IA per cent on its preferred
stock, payable September IS TO stockholders
of record September !.
Asbesto. orporation.-Quarterly dividend
of per cent on the preferred stock, payable
August IS TO stockholders of record August !.
Bank Of Montreal.--Quarterly dividend OF
2h per cent, payable September 10 70 stock
holders of record July 81.
Canada Cement.-Quarterly dividend OF Ia
per cent on the preferred stock, payable
August l6 70 stockholders OF record July 81.
Mitchell Motor.-Quarterly dividend of
sl.50 a share. payable August "a TO stock
holders OF record August 10.
Superior Steel.-Quarterly dividends Of 2
per cent on the first and second preferred
stocks. both payable August Is 10 stockhold-
ers OF record August l.
New-York tribune., 1917-07-25

Not all the corporate demand for
money can be satisfied before the
next instalment of the Liberty Loan
is offered. Bankers are therefore
discussing the outlook for financing
in the fall. Many believe that a
$4,000, 100000 government issue will
dry up the market and make the is
suance Of industrial and railroad
securities impracticable. Others hold
that it will be possible to float lin
tied amounts, especially in the West
and, to more limited extent, in the
South. 1t is pointed out that vast
sums will accumulate in the country
banks when the crop season is over,
and such institutions will, therefore,
be in a position to buy literally.
Farmers, as a rule, are not investors.
They gave the Liberty Loan a par
ticularly apathetic reception. An in
vestment banker, who was himself a
farmer, believes that they will not
display much more enthusiasm for
the next loan. They will, he says,
continue to put their funds in the
banks, as they always have in the
past when they have been fortunate
enough to possess a surplus of cash.
New-York tribune., 1917-07-25
News Digest
Foreign

London Stock Market Quiet.-Lon-
don, July 24.-Trading was quiet or
the Stock Exchange to-day and the
tendency was uncertain owing to the
Russian situation. Russian bonds anc
industrials were lower. Spanish bonds
were harder, and fair business was
transacted in the war loan and colonial
bonds. In the afternoon rubber stocks
were firm, but munition shares eased
off under profit taking, while the other
sections were neglected. American Sc
curities were dull and undecided.
Paris Bourse.-Paris, July 24.-Trad-
ing was dull on the Bourse to-day
Three per cent rentes, 81 francs 20
centimes for cash. Exchange on Lon
don, 27 francs IS centimes. Five per
cent loan, IS francs 90 centimes.
New-York tribune., 1917-07-25
s2oi.2ss..o2 s22i. .oo7. ?sl

The report reveals an extraordinary
growth in the profits Of the company
since the beginning of the war. which
is attributed by Harold A. Ssnderson,
chairman of the directors, "to tAe
shortage Of tonnage and the abnormal
increase in freight rates" As re-
suit, "the earnings Of the company and
its subsidiaries reached a point far er-
ceeding those Of any previous period
in its history"
Gross earnings Of the company prd
It's subsidiaries for 1915, according 70
the report. amounted 70 S60, ,602, ,0l0, at
ter providing for British excess profits
duty. This compares with s5i .056,67s
in 1918 and s43,37s,528 In 1914.
Profits for 1915. before providing for
depreciation on steamships, aggregated
s26, ,ss6,660 against 3l7,3<1.427 In 1915
and $S.So7. .02s In 1914.
New-York tribune., 1917-07-25
"Clover Leaf" Earns
$4.33 for Preferred

The Toledo. st. Louis & Western
Railroad Company reports net income
of S43l ,803 for the calendar year Of
1915, equal to s4.33 a share on S9,-
95260o pi pieferred stock, compared with a
deficit in 1915. The income account for
1916 follows with the changes from the
New-York tribune., 1917-07-25
Old Boat Brings 100000

Boston, July 24.-The sale Of the
harbor excursion steamer Cape Ann to
James W. Elwell & Co., of New
York, for conversion into q freight
carrier, was announced to-day. The
steamer, which is twenty-five years old
and of 71S tons, brought her owners,
the Boston and Gloucester Steamship
Company, 100000.
New-York tribune., 1917-07-25
The Dollar in Foreign Exchange

Russian exchange was slightly frmer
yesterday, at 21.15 cents for rubles.
Francs were easier, at 5.76A to the
dollar. The rest Of the market was
not much changed.
Closing rates yesterday. compared
with a week ago, are given in the table
below. American bankers have sus-
pended all dealings in German and
Austrian exchange, so that daily quo
tations for either marks or kronen are
no longer available.
Week
YnstardaY ago.
New-York tribune., 1917-07-25
Money and Credit

Pronounced ease characterized the
market for call money yesterday. Dur
ing the course Of the day the rate fell
to Ia per cent. as result of the lib
eral offerings Of the banks. Most Of
the loans, however, were made at 21a
per cent
Offerings OF fixed date funds were
slightly larger for the shorter dates,
but the tone in general continued firm.
The fact that 60 per cent of the pay
ments on the Liberty Loan subscrip-
tion account has been paid in lessons
the importance Of that item as a money
market factor, and soms Of the leading
institutions accordingly are showing
more inclination TO take on the shorter
msturities. Losns based on industrial
collateral were quoted to 5h per
cent for sixty days, ninety days and
four months; and 5A TO 5h per cent
for FIVE and six months. Loans on a
mixture of railway and industrial col
lateral were quoted at Az to AZ per
cent.
Ruling rates of money yesterday,
compared with a year ago, were as fol-
lowsi
Yesterday. Year ago.
Call money. 2Na% 2Ia%
Time money (mixed collstersD:
go days.. 4La% 3H@3a%
90 days. 4Ia@4sz% 3R@3A1s
months. 4N7@434% 3A@4 %
TO 8 mos. 43495Ia% 34@4 %
Commercial Psper.--The market was
dull and steady yesterdsy. Business
continued to move at ~ TO per cent.
Official rates Of discount Of each Of
New-York tribune., 1917-07-25
Elections

Jacques Weinberger, of William Sal
omon e. Co, has been elected a direc.
tor of the Pan American Petroleum and
Transport Company, the California Pc
troleum Company, Pan American Pc
troleum Company and the Pan Ameri.
can Petroleum Investment Company, to
succeed the late George G.. Henry.
New-York tribune., 1917-07-25

An interesting feature of the stu
alton at present is that the bulk Of
the investment demand comes from
banks and trust and insurance COM
panies. A few wealthy individuals
are buying in substantial amounts,
but the major portion of the recent
short-term issues has been placed
with institutions. This condition
will probably obtain for the dura-
ton of the war. The investing pub
lie, it is expected, will confnc its
operations largely to government
bonds, but there will always be a
certain amount of institutional
money available for the purchase of
other securities.
New-York tribune., 1917-07-25

While 1t Is probable that there will
be considerable short-term borrow
ing in the intervals between govern
ment loans, prospects for any sub
stantial amount of long-term fnanc-
ing until after the war are remote.
Investors are loath to tie up funds
for a long period, except when an
extraordinarily attractive yield is
offered. The reason is that many
anticipate a great rise in the cost
of money, which naturally would
cause a corresponding decline in the
quoted values of securities bearing
low rate of interest. That has
been the experience abroad, and it
seems likely to be repeated here.
New-York tribune., 1917-07-25
Low Operating Ratio

Low Operating Ratio
The large increase in operating rev
enues and the increased efficiency OF
operation resulted in reducing the ope'
rating ratio, that is, the ratio of ope-
rating expenses to operating revenues
from 64.25 in 1915 to 60.58 in 1916. In
creased efficiency of operation is shown
by an increase of 22.7 per cent in ton
miles Of revenue freight being carried
with increases of only Ill per cent in
freight train miles and of 10.8 PEI
cent in freight car miles.
There was an incresase of 6,26l ,58l
tons, 1904 per cent, in revenue freight
carried, of which 4,687982 tons, an in
crease of 20s6 per cent, was in freight
originating on the Burlington, and
1895 tons, an increase Of 1914 per
cent, in freight received from connect
ing carriers.
The principal increases were in
grain, livestock, bituminous coal and
in petroleum and other oils. The in
crease in grain was 1,309,370 tons,
31.66 per cent, of which 1,102,1l2 tons,
an increase Of 31.86 per cent, originated
on this road. The increase in livestock
was 205,46S tons, 1899 per cent, of
which 1862 tons, an increase Of 1925
per cent, originated on this road. The
increase in bituminous coal was 1885,
400 tons, 20.50 per cent, of which 1854
056 tons, an increase of 1880 per cent,
originated on this road. The increase
in petroleum and other oils was 1885,
oil tons, 51.22 per cent, Of which 340.-
166 tons, increase 92.91 per cent,
originated on the Burlington.
Hale Holden, president Of the Bur-
lington, calls attention to the in
creased cost of materials and labor,
and says these increases will affect
the operating expenses throughout the
whole of the current year. "The 1917
figures" he says, will also reflect the
more recent increases in cost of loco
motive fuel and materials and supplies,
accruing on account of economic and
other conditions affecting the country
as result of the European war and
conditions related thereto. Pending
revenue measures likewise indicate a
substantial increase in taxes payable
during the coming year"
New-York tribune., 1917-07-25
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, s4.7519. The intrinsic
parity is s4963s per pound. Thus, you
say either that pounds are at dis
count or that dollars are at a 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
this country for pounds with which to
settle accounts in England.
New-York tribune., 1917-07-25

Below is given the current exchange
value of foreign money in dollars ana
cents, together with the INTRINSIC gold
parity, as calculated by the United
States Mint:
New-York tribune., 1917-07-25

Sub-Treasury. - New York banks
gained from the Sub-Treasury &c.
$4,000.
Silver-Bars in London, 3aHd; New
York, 1875 cents; Mexican dollars, 6l%t
cents.
New-York tribune., 1917-07-25
New York
Denver & Rio Grande.-Tf

Denver Z Rio Grande.-Ihe, protec..
tive committee representing holders OF
preferred and common stock OF this
road, of which John w. Platten IS
chairman, has issued call for deposit
of both classes of stock with the United
States Mortgage and Trust Company,
depositary. This action is taken in con-
nection with the judgment for $685.
600 entered against the Denver &
Rio Grande Railroad in favor Of the
old Western Pacific bondholders.
New-York tribune., 1917-07-25
Gold Currents

Gold Currents.-Gold coin amounting
to 100000 was withdrawn from the
local Sub-Treasury yesterday for ship
mcnt to Canada. Bankers also with
drew $4,000 for export to Spain.
New-York tribune., 1917-07-25
Efficiency Yields
Big Profits to the
Burlington Road
Earnings on the Common
Stock in 1916 Equal to
$28.08 a Share

Carrying a vastly larger volume Of
freight without increasing proportion
atelv the amount of equipment moved,
the Chicago, Burlington & Quincy Rail-
road. according to the annual report OF
operations issued yesterday, swelled its
net income TO s31, ,130,43S, an increase
of s11,242,346 over 1915. This was
equal to s2S.OS a share earned on sllO,-
839,l00 of capital stock, compared with
s17.s4 a share in 1915. Total operating
revenues of the Burlington system set
a new record at s1O9,191,204, compared
with $93 3,5S9,722 the previous year.
Earnings and disbursements for the
1916 calendar year, with the changes
from 1915, were as follows:
1916. Changes.
Total op. revs.. S 100. 1871 ,2o4 Inc.$15,6oi,4 ,482
Oper. expenses. D. 65,235,705 Inc. 5,1o0,o2b
Net op. revs. s43,955. .4s9 Incsro.4s2,s5e
Taxes .......... 4.s2o,1e7 Inc. 557,6+6
Uncollect. revs o.. 36,315 Inc. 12,15S
oper. income. $50 oes,9s7 Inc. ss,s23,o53
C.her income. 2,9st,317 Inc 1856, $50
Gross income. s42, ,oeo. .so4 Incs11 ,sos. .5o3
Int. rents, etc. 9,095,579 Inc. 2S6,670
Sinking funds -. 1854 ,2s7 Inc. So,437
Net income. .s31, ,13o,43s Ine.st1 ,242. .34s
Dividends . S,867,123 -
Add. and betm'ts s,864,5s5 Inc. 5,523.s2s
Fund for accrued
taxes ...,.... 100000 Inc. 2,4oo, 900
Misc approp op'tions 100000 Inc. 5000, 900
surr,us s4oqa7 7i5 Dec. q. e81. $50
New-York tribune., 1917-07-25

Prssuning that the present prospects
are maintained, the maize crop in the
Union Of South Africa for 1917 avail
abb. for export 10 iiksiy Vel 10 TO be consider
New-York tribune., 1917-07-25

London Money Market.-London, July
24.-The supply of money was in
creased by Treasury bills maturing.
Discount rates were dull.
New-York tribune., 1917-07-25
Corporation Returns

(All Departments }
80
New-York tribune., 1917-07-25

Plans Alaskan Tip. = Z. n. Gary,
chairman OF the United States Steel
Corporation, expects to leave August l
for a trip through Alaska, to be gone
about six weeks.
New-York tribune., 1917-07-25
the twelve Federal districts are as fol-
lows:
-Days-
o. n-- n-z

Bank Clearings.-The days clearings
1t New York and other cities:
New-York tribune., 1917-07-25

Total op. revs. S stoo. 1871 ,2o4 Inc.s15, ,6ot ,4s2
Oper. expenses. q. 65,235,7o5 Inc. 5,1o8,626
New-York tribune., 1917-07-25

Capital stock Of British and
North Atlantic Steam
Navigation pany.
Limited, outstanding ..
Bonds and debentures
First mortgage and col
lateral trust gold bonds.
8 per cent. ...........
-Four and one half per
cent mortgage ard col
lateral trust gold bonds
Lrs-In treasury. y........
Five pcr cant frst mortsss,
sinking fund gold bonds. +.
L%s-Called or recemed
by sinking flnd. ........
In treasury.
The day book. [volume] (Chicago, Ill.) 1911-1917, 1917-04-04
BUSINESS

Il llLkN"-lN BOSlNESS
balance in the bank at the end of the
year-although this is a considera-
tiOn-but by the degree to which
men with whom the house deals
have been helped to better things
both in point of comfort and charac-
ter, and by the good will which has
been developed among men.
No attempt is made to conduct this
business so far in advance Of all 9TH
eTs-in every way-sO as to wreck
it. 1t is recognized that to return to
the simplicity of the days when there
were no great cities or transconti-
mental railroads would be futile.
"OppOTtUnism" is therefore the
ideal set before all who are related
to this enteTprise-but never is any
thing permitted that is immoral or
unfair or unethiCal
Real business qualifications are in
sisted upon.
1t is understood that while piety is
good foundation for a business
man, it is not the only essentiaI-for
piety alone never yet fitted a man
for a successful business career.
And so the leaders-and others,
too - are encouraged to perfect
themselves in the science Of business
for more effective service.
So here's the plan that's working
the revolution in Jesus business
1F
money; the supremacy of service
over profits; the production of goods
that will stand the test, but, above
everything else, service, service,
service.
This is the second of five articles.
Tomorrow Dr.. Sickle will discuss
Jesus as a religious man
The day book. [volume] (Chicago, Ill.) 1911-1917, 1917-04-04

DuICud56u 1IOLl N1liW duhCC III PLC5-
900.
There are the Braves. A good ball
%
JESUS: AMERICAN (
HE WORKS F
BY THE REV. CHARLES STELZLE
Jesus working a revolution in
the business life Of this city.
But it isn't through Old-fashiOned
efficiency methods and scientific
management-al although no one be-
Heves more strongly in system and
order than Jesus.
It's through the study Of the hu-
man side OF business that Jesus is
working out his plans.
When He selects a man to manage
His business affairs He requires Of
him not only unusual mental ability,
but a great heart-the ability to get
along with men.
There's an atmosphere in the Of
flee that compels men to deal honest
" with each other. And it is required
that every employee shall be fair and
loyal.
Competition there is, too, but it is
expressed in the effort to get out a
better product-tO excel in the kind
and the character of the work done.
Shabby work is never permitted
under any circumstances.
The trade mark of this house is
service"
There is no class spirit among the
workers themselves, in the sense
that one kind of mechanic believes
himself to be superior to another,
simply because he happens to have
what some regard as a better job.
When a man is given a bigger or
better Job, more is required of him
in character and purpose. He is soon
made aware that the one who serves
most stands highest among his fell
lows. This is a fundamental pTinCi-
ME laid down by Jesus,
The day book. [volume] (Chicago, Ill.) 1911-1917, 1917-04-04

Baltimore; Collins, with the club
last year, and Larry Chappelle, who
is said to have lost the stage fright
developed in Chicago when he was
purchased from Milwaukee for $1S,-
900.
There are the Braves. A good ball
The day book. [volume] (Chicago, Ill.) 1911-1917, 1917-04-04

club, weak in spots, with an indomi-
table manager.
A fiery ball club, with lots Of pep,
with all the fight in the world; ball
club that is playing as hard when
hopelessIy beaten as when in a nip
and-tUck game.
The day book. [volume] (Chicago, Ill.) 1911-1917, 1917-04-04

This is the second of five articles.
Tomorrow DR.. Sickle will discuss
Jesus as a religious man.
The Bennington evening banner. (Bennington, Vt.) 19??-1961, 1917-06-29
BENNINGTON BRIEFS
News o. the Town sno village 1sis
Briefly for 3usy AssdsrR

Misc Bibiane Houle and Miss
Jeannett Houle are visiting at the
home OF relatives in Cohoes.
The summer conference alumni as
ISOLATION will hold n business meetihs
in the Baptist church directly aiter
the Sunday evening service. All melil-
beers are requested to be present.
Mr.. and Mrs. Earle s. Kinsley ana
daughter. Hester, who have been
guests of Mr.. and Mrs. c. j. kinsley
OF School street, returned Thursday
to Rutland. They were accompanies
by Mrs. c. J. Kinsley for prlel Wis"
in Rutland.
Freddie Elwell. II years old went
fishing Thursday forenoon Ill the
Jackson brook. Freddie wasn't on the
stream much more than an hour ana
came in with IL trout that weighed
three pounds. Some OF the hsh were
over nine inches long.
All men interested in the Benning-
ton company of LIST reg. OF vermont
volunteer militia are requested 10 call
at r. S. Harris Office between 1.SO ana
10 o'clock Friday or Saturday evening"
TO fill out enlistment papers and De
measured for uniform First come
first served.
man who has recently been pretty
we'll over the county and had an OPP
portunity OF finding out the sentiment
regarding the patriotic celebration III
Bennington, July A. gives 1t as MS
opinion that we shall have from
twelve to fifteen thousand people mere
that day. This opinion is based
chiefly on his hearing so much FAVOR
able comment and offers OF co-opera-
ton everywhere. Bennington appears
TO be the only place on the map that
day and all the other places seem 10
be interested in BenninGtons making
their patriotic celebration a success.
May we also have the benignity OF the
weather man.
George Kid Rosch, the popular little
featherweight OF Bennington scored
another victory last night when he
koncked out Young Thomas OF
Springfield in the 9th round at North
Adams. Cobb is about the clever
est little fellow George has met since
he defeated Joe Morgan of Manchest-
err. N. H., a couple OF years ago he
came to Adams with quite reputation
having defeated amongst other good
boys, Young Bates of Chicopee. 1t
was easily the banner event of the
evening the other two bouts being
mostly smuggling matches with the
first man getting the lucky punch
winner. Rosch had his man X . IN
the End round, but the referee must
have waited about is seconds before
he commenced counting, giving CobD
a chance to respond. Anyway 1t was
corking bout which pleased the fans
immensely and the chances are Rosch
will be wanted again in the near M
ture. Lefty Mayor, after having been
near being put away in the first round
himself scored X O in the 3rd over
Young Jose. The preliminary between
Montgomery OF Lennox and Young
Sam Langford Of Pittsfleld ending In
the Bird round by the latter taking the
count. The show was the reopening
of the Old Northern Berkshire A. A.
and the hall was packed to the doors,
The Bennington evening banner. (Bennington, Vt.) 19??-1961, 1917-06-29
TOO LATE TO CLASSIFY

3. WANTED-Tutoring in grammar
school subjects. Mary Elizabeth Rob
inson, PIG Bradford st. 29t6F
TO RENT-Tenement on Main
street. Inquire at Harte theatre.
Adv.
WANTED-An assistant at play
ground to care for apparatus ana
grounds from 2 to in the afternoon.
Apply Miss Vossler. 2Stf
FOR Rents room tenement with
bath on North street. Apply 1O9
North street in store. 2Stf
NOTICE-at auction Saturday
June 80, 20 Ohio horses from 1850
pounds to 1900 several good matched
pairs. Hicks Bros, Flags Stable.
..orth Adams. 2St2
The Bennington evening banner. (Bennington, Vt.) 19??-1961, 1917-06-29

Warning for Special Town Meeting.
The local voters of the Town Of
Sandgate are notified and warned to
meet at the town hall in said town on
the 10th day OF July A. D., 1917, at 10
o'clock a. m. to transact the following
business.
list. To see if the town will vote a
special state tax of 10 per cent or
more under acts No. 81, 1917.
End. To transact any other bust
ness proper when met.
Dated at Sandgate this 26st day of
June A. D. 1917
Z. F. Hayes,
Fred Bentley,
John Torrens.
Selectmen.