New-York tribune., 1918-03-22
Relevant Comment
Nanderlip on the Job Again

Frank A. Vanderlip, who cut his va
cation in California short because of
the death last week Of James Stillman.
late chairman Of the National City
Bank, upon his arrival here yesterday
rcsMmed the duties OF president, which
he rc!nquished to manage the war
savings campaign.
Mr. Nanderlp was deaf to all in
quiries relating to possible changes
that may result from the death Of Mr..
Stillman. 81 have been away so long"
he said, "that it will take me some time
to get my bearings here at the bank
again
Soon afr his arrival at his desk Mr..
Nanderlip went into conference with
John w. Sterling, director and the
attorney for the City Bank. Among
those who called on him during the day
was Henry Ford. Mr.. Ford said he was
to talk.
1t is thought by oHicials and others
closely connected with the bank that
the matter of filling the Craftsmanship
Of the board. the Office made vacant by
Mr. Stillman's death, will be deferred
for All indefinite period, possibly until
the annual meeting of stockholders
next January
Car and Foundry Comes to Life
Strength Of American Car and
foundry shares yesterday was based
on an anonymous interview with di-
rector of the company to the effect
that the stock would be placed on a
regular per cent dividend basis. 1t
was further stated that the board of
directors aimed to establish reserve
Tor dividends that would assure dis
bursements at this rate for at least
five years. The company has been pay
ing Of late per cent regular quarter
ly plus 1 per cent extra. making 8 per
cent year in all. The stock in yester-
days market was unusually active.
rising 23s points net, to 7Sas, on a
turnover of 1900 shares.
Distillers Gains, Too
Another strong industrial speciality
was Distillers Securities. The stock
jumped IL points. to Al V on dealings
OF l2,2O0 shares. Traders bought Dis
tIllers on President Kessler's state
mcnt, ISSUED at the annual meeting on
ednesday, to the effect that in the
current quarter the company's earnings
have exceeded $2,000O00.
Little Time Money Out
According to an estimate made ycs-
terday, outstanding collateral time
ioans carried by national banks in the
street, which at times have aggre-
gated as much as 100000, 900, have
during the last few weeks been
sharply reduced and now probably do
not exceed S50.00O000. 1t has been
the policy Of the banks, in view Of the
heavy demands OF the government on
thelr resources, to let these loans as
they have come due run Off without
renewing them. This has compelled
Stock Exchange houses to take call
money to meet their daily needs, a
situation which brought about the
agitation for the money pool to offer
us resources to supply the deficit in
time funds.
Paper Suit Dropped
Attorneys for the International Paper
Company announced yesterday that the
suit brought by Ernest Turnbloom and
Delavan A. Holmes, representing com
mon stockholders, had been voluntarily
discontinucd without cost to either side.
The plaintiffs began action against tho
company last fall asking that the man.
agement be compelled to pay all arrear
ages OF dividends on the preferred
stock and that an equitable distribution
u, ua 'he remaining surplus be made on
,he :, common stock. The removal ,f
+. 7: Dodge as president was also re-. q.
Qucsted. ""' "''' Ae-