davidaulloa/AmericanStories huggingface dataset:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1913-04-24
The New Munsey Trust Company
and That Munsey Building
Some Rather Clarifying Remarks
BY MR.. MUNSEY

sderably more per square foot than plot half or
quarter OF its size The time will come. and not very
many years hence when this piece of ground will be
worth $4,000.
Add to the cost OF the building the increase in the
value OF the land and the total would be about
SI.4ooooo. The renting space in the Munsey Building
is about two-thirds taken. II the entire space
taken present the building would earn
nearly per cent million and quarter o.
dollars and would earn on million dollars nearly IL
per cent net.
Big Office buildings. the country over like the
Munsey Building and the best Washington office
buildings, average to about three or possibly
three and one-half per cent net-not more.
A trust company would itself occupy space
worth prices go. with light heat and attendance
say $4,000, which is per on 100000. But
trust company brings business a buding-brngs
many tenants building, and II g,ows must have
good deal OF additional space for itself and its sub
sdiary concerns. feeders to the company.
A building OF the character OF the Munsey Build
ing is. should say. worth to trust company easily
to and half per cent in excess OF its
ings. and what it would be worth to Individual
strength it brings to the trust company.
As to the value OF the Munsey Building that will
be determined by competent judges appointed by,
satisfactory to- the banking department of the United
States government This valuation will be fixed upon
quite independent OF myself and the board of directors
OF The Munsey Trust Company.
The sum / had fixed upon myself. as price at
which should be willing sell the Munscy Building
The Munsey Trust Company is one million dol
lars. This is much less than me and is much
less than it is worth But as very big owner in the
trust company l should still be very big owner in
the building. Thus my net income from the building
my share in it, by of the advantages it would
have part of the big company would be
better than through individual ownership as at
present.
WHATEN Err THE VALUATION Is. HOW
EVER, AM READY TO ACCEPT IT. If THE
VALUATION IS FINED AT MORE THAN \
MILLION DOLLARS WILL PUT THE EXCEss
AMOUNT IN AS SURPLUS WITHOUT CHARGE.
TO THE COMPANY.
With the facts before YOU as herein stated Won
will better understand the purposes and plans OF The
Munsey Trust Company. 1t is always better TO
KNOW than to be misled.
The Munsey Trust Company has crystallized into
fact. 1t is here and will be the Job in the Nun
sey Building, and doing business within the next few
weeks-AND IT WILL Do BUSINESS. AND
PLENTY OF IT.
FRANK A. MUNSEY.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1913-04-24
Firemen Decision Inspires Pressure.

Weakness became more marked and Sc
we're inroads were made on prices of in
vestment shares as well as the active
leaders.
Northwestern. Illinois Central Southern
railway preferred and New York Central
established low records at prices l TO
points below yesterdays close. Pressure
was inspire. py the award of the fire
mems arbitration board. which calls LOT
a heavy increase in railroads operating
expenses.
With the completion of the active
selling of the forenoon. trading Tell
into it's recent rut.
Prices however, were inclined to go
I'D. prominent stocks rallying about
half a point all around
The market sagged again TO near the
lowest Liquidation ot various high ana
low priced stocks deferred buyers. "a,
madam Pacific broke 3l4, Rumely Jfs ana
the preferred points.
Heaviness of seasoned bonds. many OF
which made a new low record, assisted
in depressing sentiment.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1913-04-24
CHICAGO LIVE STOCK.

CHICAGO. April 24.-Hog market heavy.
: .+nasN,; Receipts. 1,,1}O head: higher:
bulk oi sales, S.1oaSSt: light, S6Ja.S So
mixed. S.5Jas.D: rough, S.4aS.JJ; piss,
1JaS g.,
Cattle-Receipts. 4.ro head: weak
heeves. 1-:asaa.2o: Texas steers 6S,aI..O:
stockers and feeders. 6.2na> lo cows and
heifers. :;eGaS.i ~. calves. 6GtaS..,n
Sheep Receipts. 1900; slow: native
6.OoaI ~: warnings, 6.;d,a1.90: lambs. ma
tive. 6tapaS.9t
Evening star. [volume] (Washington, D.C.) 1854-1972, 1913-04-24
BALTIMORE.
To The Star.

Special Dispatch Ia The star.
BALTIMORE. April "A. -Wheat-E.asier:
spot No. :. red. 10: April No red l. 10:
May No. > red. ] .10l2: steamer No red
] 62: receipts. Ioo.c01 bushels.
Corn-Quiet and firm: spot contract
.,sIs; April. ISIS MAY. J94: steamer mixed
567s: receipts 6.23l bushels.
Oats--Firm; Ne. I white. 421s. standard
white. i1ia bid: No. :; white. :i!S4ai0: re-
ceipts. 49, bushels.
Rye-Firmer; No :, western export. 6Sls:
No. - western domestic. 66i@; receipts.
ISL: bushels.
Hay-Firmer: No. timothy. 11..O bid
No. I clover mixed. I,.tS,a1J..st
Grain freights -Easie-: steamer to Liver
pool. per quarter. IS I'd April: Cork for
orders, per quarter. IS May.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1913-04-24
LIVERPOOL.

LIVERPOOL. April 24.-Cotton-Spot
in increased demand; prices easier; mid
ding fair, 7.2S: good middling. 64: mid
ding. ga low middling, 65S; good or
binary, GA: ordinary. $50: sales, 10000
bales, including 500 for speculation and
export and $500 American: receipts 49,
GOO bales. including 1000 American.
Futures opened steady and closed steady.
April. 6jOk: April-May. 6.46; May-June.
645h: June-July. GA; July-August. g. 4OR !;
Observation-Disclosures. SOB: September-Oc-
tober. $751;: October-November, 611k;
November-Sjecember, COSY; December
February-March, 6O71s; March-April,
Cos
Evening star. [volume] (Washington, D.C.) 1854-1972, 1913-04-24
Cotton Exchange Will Close.

LIVERPOOL. April .i-1he cotton eX-
change here will be closed May 10, L. IL
and IL, WEitesantide holidays.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1913-04-24
NEW YORK CURB PRICES.
COTTON MARKETS.
= NEW YORK.

NEW YORK. April 24.-The cotton
market opened steady at an advance of
to points in response to better cables
than expected and covering by recent
sellers who seemed disposed to take profits
following the recent sharp breaks. and in
view Of renewed predictions Of lower tenn
peratures in the south The weather map
showed further rains in the western belt.
which seemed to be graually working
eastward. and there was no change in
the character of private crop advices. but
Liverpool was buyer here, while there
was also considerable demand from
New Orleans and commission houses
sources. with prices selling about to IL
points net higher during the early ses-
sion.
Futures opened steady. April IL 40 bid:
May, 11.41; June 11.JO bid: July, 11.jO;
August. 11.34: September 11.22: October.
Ills: December, 11.2O: January, lila:
February. 11.15 offered March. 11.2O bid.
The official western belt forecast con-
frming private predictions of lower tenn
peratures and foreshadowing frosts in
most sections helped the market during
the middle of the morning. but did not
seem to create much fresh buying power.
Prices turned slightly easier after the
close of Liverpool. and at midday were
about 6 to Z points net higher.
Spot quet middling uplands, 1900,
nominal.
Estimated receipts at all the ports to-
day. 900 bales. against 1892 last week
and 1904 last year. For the week 10000,
against 10S.3S4 last week and 1888 last
year. Today's receipts at Galveston, .
40. against 6,661 last year; at New Or
leans. 2611, against 1876 last year and
at Houston, 1888. against 127 last year.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1913-04-24

~ because it is proposed to buy the Munsey
Building and make it part or the assets OF
The Munsey Trust Company.
The criticism. however is not aimed at this
templated transaction the merits of the but
because OF the lack OF any other possible chance OF
attack. The criticism a matter of fact, IS AIMED
AT THE TRUST COMPANY ITSELF, the purpose
being kill off before gets started doing business
Such determination might be helpful to certain
interests, but not necessarily helpful the
munty as whole.
Let say and say very frankly. IT IS MY
PURPOSE TO MAKE THE MUNSEY BUILDING
THE HOME OF THE MUNSEY. TRUST COM
PANY, AND IT IS LIKEWISE MY PURPOSE TO
HAVE THE MUNSEY TRUST COMPANY OWN
IT'S OWN HOME AND NOT BE A HOMELESS
TRAMP
quite ready as man who knows
thing of business and the science OF business stand
for the idea that trust COMPANY big financial in
stltuton-should not only its own home, but that
it should have something Of tangible nature tie
to-a rock OF Gibraltar as an anchorage.
The Munsey Building is great monument OF
strength and honesty and common sense and real
property that take wings over night and dis
appear.
1T is HONEST BECAUSE IT is WHAT IT
SEEMS TO BE. THERE IS NO SHODDY IN ITS
CONSTRUCTION, NO SHAM OR PRETENSE
FOR EFFECT
It's architect. the late Stanford White was doubt
less the greatest genius of his profession White
didn't know how to design or build cheap building.
His work quality work, and quality is in every
brick and in the Munsey Building every piece
OF steel and iron, in every bit OF marble and bronze
and in its mosaic halls and finish throughout.
The Mun<ey Building built by the Fuller
Company, and cost of close to sixty cubic
foot-sixty cents, mind you against thirty thirty
five the per cubic foot of putting up fairly
good Office buildings but buildings of real class or
genuine in quality
Moreover the Munsey Building is as we'll plan
ned building for bringing revenue and giving maxi
mum comfort tenants there is in the world.
There comparatively few office buildings in New
York that i'll every respect equal the Munsey
Building here in Washington, and very few that ex-
eel it.
The Munsey Building has cost approximately
million and quarter of dollars-straigf hard cash
from to alley, me $I25yooo This land is
now easily worth S25oooo and perhaps as much as
100000.
A plot OF this size one solid piece is worth con-
Evening star. [volume] (Washington, D.C.) 1854-1972, 1913-04-24
LIVERPOOL.

LIVERPOOL. April 24.-Wheat-Spot
firm: No. Manitoba, as 1O12d: No. i
Manitoba. IS 91ad. futures firm; May, as
I'd: july as t@.d, October. as Esd
Corn-Spot firm. American mixed. new,
rs Id: American mixed, new. kiln dried
rs I'd American mixed. old, It's, American
mixed old. Via Galveston, rs SID: fu-
lures steady. May american mixed, IS
lid. July ia Plata. rs lad.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1913-04-24
HeavinesS Abroad and LoCia::
Factors Instrumental in
Forcing Prices Downward.
TRADING is LIGHT AND
MAINLY PROFESSIONAL
Railways Objects of Bear Attacks
and Investment Shares as Well
as Leaders Suffer Pressure.

NEW YORK. April "A -Uneasiress in
foreign markets over the renewed tension
in the European political situation was
reflected in heaviness of American stocks
i'm London. The effect of this tendency
on the home market was heightened by
other considerations. and sentiment was
thoroughly bcariSh.
The s.ibs; antial victory won by the east
crn railroad firemen. with its pilinS up OF
operating costs for the railroads. and the
prospect of further demands from other
classes OF employees We're instrumental IN
forcing down prices
The California situation also received
considerable attention from bear traders.
Selling was mainly professional, but nll-
merous s. ocks of an investment character
declined Bonds were heavy.
New York Central dropped a point. to
lG. new low figure. Canadian Pacific
Wooiworth Great Northern Ore and
Rumely preferred also lost point.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1913-04-24

:::: ::: :: p: :: :: ;:::::
~ because it is proposed to buy the Munsey.
Building and make it part OF the assets OF
The Munsey Trust Company
The silver state. [volume] (Winnemucca, Nev.) 1909-1925, 1913-10-07

Of carrying on business. actual losses
dspreciation allowances. and tax ea
empt or tax paid money. Living "a
penses cannot be deducted, nor =
money spent for permanent Improve
ments to property.
Forms to Be Ready Soon.
The form that is to be hiled out
BY the taxpayer will be drawn up
aeon nv the commissioner OF nternai
revenue. The taxpayer will have 10
give his gross revenue and then speci
Nv and claim the deductions to when
he feels entitled. =.
Unless a mans income tax Is pau
at the source he must hunt up q tA1
blank, I'LL 1t out, and see that II nnas
it's way to the proper federal omcisi
in his district before March l, 1919.
Firms, corporations. and the hho
having the handling OF interest, rents
salaries, or other portions Of the IN
come of any citizen are compelled 10
deduct the tax for the individual n
pay It to .he government. The indi
yiduai then will receive receipt
showing he has paid his tax
The silver state. [volume] (Winnemucca, Nev.) 1909-1925, 1913-10-07

equivalent to the ad valorem rates
provided In the house bill. A specific
rate has been placed on photographic
views of scenes and buildings 10
Gated in the United States instead OF
the advalorem rate provided by the
house. This amendment results In an
increase In the rate of duty.
Roman, Portland and other hydraul-
10 cements, limestone, rock asphalts,
asphaltum, and bitumen have been
transferred to the free list. The house
rates have been reduced on lenses,
surveying instruments, telescopes, mi
croscopes, Photographic and projec-
ton lenses, in increased on strips Of
glass for lenses and gauges, opera
and field glasses. A new classified
ton has been made for unmanufac-
tured mica and a rate of 4 cents
per pound placed on all valued at not
more than Is cents per pound. and rs
per cent. on that valued at more than
15 cents. This results In an increase
owe the house rate of 80 per cent
on the cheap glass of mica, costing
less than IA cents, and a reduction Of
all that is valued at more than 10
cents per pound.
Cotton Manufactures.
The senate classification of cotton
cloth. according to the average num-
Der of the yarns contained therein.
was accepted. instead of the house
provision for the highest number. This
slightly decreases the rate OF some
fancy cav and novelty cloth, but
on the greater bllk of cotton cloth the
rate is not affected. The rates on
bfeached and dyed colored yarns are
increased and on cotton yarns and
cloth made Of yarn, from numbers 10
to SO. The rates on handkerchiefs or
muffiers, not hemmed, have been de-
duced from 30 per cent, as provided
by the house, to rs per cent.
The silver state. [volume] (Winnemucca, Nev.) 1909-1925, 1913-10-07
Canadian Fox Industry.

Much money is involved in the c.
madam fox industry. Since the open
ing of this season 219 live foxes OF va.
rious hues including silver gray. val
ued at 100000. have been shipped
from Edmonton TO points In eastern
Canada and the United States for
breeding purposes. Included In this
lot were ten young black foxes which
were sold to a New York firm for $780,
900. Many young foxes die soon after
capture. Several black pups have died
after being sold for 81, 500 TO 81. 500. A
western raw fur company which has
been supplying the eastern markets
with young live foxes that
1t will discontinue the eastern ship
ments. having decided to establish a
farm In western Alberta, where 40
foxes are already domiciled. A de
crease OF rs to 80 per cent. has taken
place in the prices paid for these AMI
mails. which Is attributed to the large
number which have been supplied
from the northern country of Alaska.
Yukon territory, and the northwest
territories. The supply has been plen-
tiful because the young foxes were
dug out OF their holes before they were
able to escape. In a short time the
young foxes will leave their dams and
1t will then be impossible to catch
them otherwise than singly in trans,
n the prices will probably rise.
The silver state. [volume] (Winnemucca, Nev.) 1909-1925, 1913-10-07

not nor than 20 cents a dozen pairs.
a dozen pairs a duty of 40 per cent.
was agreed upon.
The conferees eliminated the provi-
sion inserted by the senate denying
entry into the American market of
goods manufactured by children under
IA years of age.
The final agreement provided that
any person employed to collect the in
come tax may be utilized by the sec
Rotary of the treasury in the general
service of the internal revenue bu-
reau.
Larger Customs Revenues.
THE customs event will be larg-
or for the current year, 1914 Sena-
tor, Simmons said. because the rates
of the Payne-Aldrich law have been
for the force quarter, and will con-
tinue In force on wool and wooden
until March 1. When the next fiscal
year begins, July 1, 1914, all the rates
of the new law will be in operation
and the tariff duties collected will be
smaller.
The income tax which is collected
for the calendar year can be collect
ed for only ten months of the present
year. as the law specified that collec-
ton shall not go back of March /,
1913. The estimated decrease in the
total expenditures of the government
for 1914, $4,000, 900, is based ON the
expected for the army and navy esti-
mates"
The balance of the total estimates,
as given in the treasury estimates, is
made up of postal receipts, internal
revenue receipts, the profits from pub
federal income.
Agricultural Products and Provisions.
Cattle, sheep and other domestic an
imals suitable for use as food, wheat
and wheat products and eggs, have
been transferred to the free list. Re-
auctions have been made on oats, but
ter. beets, frozen eggs. peas, green
house stock, zante currants, choco-
late and cocoa sweetened and extracts
of meats from the rates provided by
the house. The rates have been in
creased over those provided by the
house on broken rice, fish packed In
oil and ground spices. A rate of 20
per cent. ad valorem is placed on
ground spices in addition to the spe-
cifc rate provided by the house on
unground. The senate receded from
the reduced rate placed on fiaxseed
and its amendment placing a duty on
bananas. The house classification on
lemons and other citrus fruits is &C
cepted.
Schedule n, Spirits, Wines and Other
No changes of Importance are made
in this schedule. The rates on gin
ger ale and similar beverages are
slightly decreased on bottles contain
ing not more than one-half pint each.
The senate receded from it's amend
ment placing an internal evenu tax
on grape brandy used in terrifying
sweet wines.
Papers and Books.
The house rates have been reduced
on common paper. box. boards, papers
partly covered with metal leaf or
gelatine and plain basic papers for
albumenizing for Photographic print
ing. The rates provided by the house
for su~rface-coated papers suitable for
covering boxes has been increased
from 35 to 40 per cent. The senate
amendments placing specific rates
graduated according to thickness and
size have been agreed to with several
reductions In the rates provided. The
rates agreed n VI approximately
The silver state. [volume] (Winnemucca, Nev.) 1909-1925, 1913-10-07
WEALTH IN MIDDLE WEST
investigations by Commissioners of
Internal Revenue Reveal Large
Fortunes There.

The commissioner Of internal
nue. made public the estimates on In
comes for the middle west.
These estimates show that far more
wealth Is distributed In Illinois out
side OF Chicago than In the city. Tho
commissioner of internal revenue Ii
inclined to believe the reports are 20
far from correct that he will not use
them to my extent In his plans for the
collection of the income tax.
According to his statement, $4,000
citizens of Chicago have incomes
ranging from $4,000 to $4,000 per
year, while 1880 citizens Of the
Eighth district, which has It's head
quarters in Springfield. have incomes
within this scope. Only 5000 individ-
uals in the Fifth district, with head
quarters at Peoria, are listed.
Likewise In Indiana there 10 a great
variance in districts. The collector
for the Sixth district reported over
Q 1000 taxable incomes. and the col
lector for the Seventh district reported
only 5000.
Large Fortunes In Iowa.
Iowa's incomes will be largely taxed,
the collector for that state reporting
nearly II, 900 taxable fortunes. Wis
consin has a few over 10. 1000, Michigan
close to $4,000. and Minnesota about
1000.
A feature about the Minnesota In
come estimate is that the collector de-
clares there are $50 men In the state
with incomes upwards of $4,000 an
nually. while in Chicago the collector
reported only 35 persons with incomes
above the 500, 900 mark.
Large fortunes seem to predominant
In Minnesota, for there are 1000 men
rated with incomes between $4,000
and $50 900, as against 500 in Chicago
and 1000 In the whole state OF ILL
nois; 500 with incomes between $780,
900 and 500, 900. as against ITS in
Chicago and 275 In Illinois, and $50
over 500. 900. as against 80 in I'LL
nois.
Indiana and Michigan are also re-
ported as having large income bear
ing fortunes over the $4,000 mark.
Figures for the Middle West
The following table shows the va
rtous taxable incomes in six middle
west states:
The silver state. [volume] (Winnemucca, Nev.) 1909-1925, 1913-10-07

Washington.-The Democratic tariff
revision bill, first on the program of
reforms mapped out when President
II last congressional stage when 1t
was brought back to the house from
The Joint conference committee with
the unanimous Endorsement Of the
Democratic conferees.
The measure. of course, has both it,
friends and enemies. According to
the administration. 1t carries out
fosr Of the party promises. Tariff re-
form, reduction in the high cost of
living, campaign against the trusts, In
that duties have been taken on Of
many trust made article, and the In
come tax.
The measure, consequently, has .
larger Importance than that of q mere
tariff reform bill, and Its effect must
be widespread, both on business and
industry. and also in connection with
politics. Democratic leaders are con-
ndent that business will suffer no un-
toward effect; that consumers will be
benefited.
Changes In the Rates.
The bill imposes an average ad
valorem rate of from ~ to 20 per
cent. The average for the present
Aldrich law is 40.12 per cent. The
average for the Wilson, German act
was 39.45 per cent.
Duties generally have been reduced
"a all of the articles that enter into
the necessaries of life. including the
products of the farm as well as manu-
featured products.
Trust made products In many cases
have been transferred to the free list
or the duties at present imposed have
been substantially reduced.
The income tax feature Of the bill II
expected to net some ss3, 900. 900. 1t
Win call for a tax on nst incomes of
unmarried persons of $1,000 and up
wards and on net incomes OF married
persons living together, where the
wife or husband is dependent. Of a.
900 and upwards.
Experts estimates indicate q sur
plus OF sic. 0O0. 900 over all sxpend-
lures 1t the end OF the present fiscal
ysas.
A rate Of 40 per cent n imposed
IN stockings and half hess wh.aA -
The silver state. [volume] (Winnemucca, Nev.) 1909-1925, 1913-10-07
The Winner

Senator Key Pittman was talking IN
Tonopah about two Lobbyists who had
quarreled.
But there's no fear" he said. .of
their manning or mutilating one anoth-
er. They are like Blum and Stun.
WHO came out ahead q man saA-
ed. in that street row between BluR
and Stuff?'
~'Stun did, ~ the ansvse. -
- ~ Ae4 Q strssts sensAss