davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1914-11-26
MONEY AND EXCHANGE.

FEDERAL REsERyE DISCOUNT RATE -For
% days, J.g per cent. for longer maiunt.es. Der
cent
GAIL Monty Fund. we're offered freely Rll-
ing rates. "a per cent Tor new loans. 5a6 pr
cent fOl feueNas
TINE MONEY was abundant Rates. fMe,s.
MERCANTILE PAPER vas bought moderately
Ruling rates. pr cent for lct names. bank ac-
ccptaree ta, Ut pcr cent
sLEARING HOUSE STATEAfENr- -Exchtnses.
So. .s-i OIL balance. 81 f-i.--i Tic sub Treas
up 1ts creditor 90 tlls amount of aiieS-5.
~ U.IREASl HA New York lara. lot % Tho
sub. Treasury Slij5oQ0 and 1st since Friday. sls.
FEDERAL RESERVE DISCOUNT RATE EISE.
WHERE -Phii4dt. .phia for so dsys. Y Der cent
.or longer mstls.ties yer cent. Boston. ~ and
per cent. Cleveland. p,r cent, Richmond. per
cent. Chicago per cent. 81 Louis. yer cent.
Atlanta aAd o p. per cent. AilLeapo.ls. and ~
peF cent Kansas Cify. ald gi1 .sr cent. Dallas.
and 81 per cent. san Francisco. 4ul 81 per
DOMESTIC EXCHANGE Boston. par: Clrcin-
att toc premium. -. louis. slr premium bid a.
premium askei. Minneapolis -nr premium. san
lTaac.sco. 5Oc premium. Chicag0. -.c premlLu.
BANK CLEAEiNGS --isustou. ertAaHsts 81. .1al. o.
q7s halaus~s tt--.sfl. Halfiuale elIlalge. 8
II. 700 balances Sl.fi9 Dos. Cllrsgo. e,-hang.,
SlT.43f0f} balances N-hit .1i. ruladc. .phla cr.
changes s-i5iS.l4. balances tlf1l 5ls. s. Lgils
e1changos NiT-s l1s. balances : .0fl $50
SILVER MARhkr Bar silver il London was
43d an ounce lp 3-lfl NeW YORK quotation was
igA.c. W Sc. Mesiran silver dollar 3sAstg
and rates were ~'in-Hl4t lostr Closing Gable
sterling. 1880. demand sterling $500 Cable
franc. 5.l0ii dsmAnd frllcs. tll. cable marks.
s5fs demand. So
New-York tribune., 1914-11-26
COTTON QUIET,
BUT ADVANCES
Spot Differences Revised and
Some Grades Below Mid
ding Dropped.

The cotton market was quiet out
steadier. General business was res
tricted by the fact that to-day is a
holiday here, while Liverpool will re
main open, also by a disposition to
await the effect of the December
notices expected on Friday morning.
There was considerable covering,
however, with a scattering demand
from trade and investment sources,
the bulk Of the latter being for Octo-
ber: with offerings limiter prices were
II to u points net higher. The close
was shade off from the best, but
steady, at net advance OF Z 10 8
points.
Prominent spot interests were cred
tied with buying December contracts
against sales Of May, and there has
been similar buying for several days.
Part Of this demand, az least, - at
trbuted 10 people who own the bulk
of the local stock, which amounts 70
about 1000 bales, and there is con-
sequently some uncertainty as TO
whether the entire stock will be ten
dered
The revision committee increased
premiums on grades above middling
from 20 "a points, but made no
changes in the grades below middling,
the effect being 70 strengthen the New
York contract The grades of fair,
strict middlirg fair, good ordinary
and low middling tinged were dropped
from the list The differences will ap-
ply only to deliveries on existing De
cember contract, as present bylaws
provide for the monthly fixing Of diff
ferences on old style contracts and
for the fixing of such differences pre-
ceding each delivery day on the new
style contract.
Exports for the day were smaller,
amounting to about $500 bales, but
daily fluctuations in the elearances are
OF little significance and reports that
a large number Of steamers are now
loading in Southern ports suggest that
the end of the month clearances will
be liberal Southern spot markets were
&C lower to l-l6c higher, generally
unchanged Local spot cotton quiet,
at 7.75c for middling upland; sales,
600 bales. Local contract prices:
New-York tribune., 1914-11-26
RETIRE CLEARING
HOUSE CERTIFICATES
Full Amount of Large Issue Will
Soon Be Returned by
the Banks.

One Of the best barometers of the
Improvement .u the financial situation
"ea ln The fact that the banks which
.ooA out Clearing House certificates
soon after the closing Of the Stock Ex-
tlehge are now rapidly retiring them
N Was expected yesterday by those in
position 90 know that the full amount
ssled El.i soon be all returned 70 the
Clearing Holse and that an announce
Aeh- 20 trs eject VIII be made short
While ,he exact figures showing the
amount @! Clearing House certificates
f'lea 20 New York banks since the
outbreak OF the European war Will not
y MADE public until all have been re-
.iea' D., was made known that the 1914
fsle "ill oe u excess of all previous
sues ~ d wide margin.
ln lsO. The amount issued was SlO1,-
.'V'9el and the maximum amount out
..enl.lg al ans single period was S8S,-
'-''''1. on ittem6ss 10 or the panic
year When this crisis had been wealth
yea ,nt stronger banks formed pool
ad tle weaker institutions in re-
t.Ae ihe.~ certificates The first Ger
e-iea a 1907 we're taken out on Oc-
"-eI %, The first cancellation was
.-e on November il, and the final
--,e.a1ol took place May %. 1908,
!-i"o week after the issuance Of
Nfst certificates.
% O-rig 'ae panic Of 1898 Clearing
.'.-ts certificates were issued over "a
woo OF nineteen weeks The aggre-
.-'e Issue Was SD 10000, and the max
,.- .-e amount outstanding at any time
"aS S3s,2S0.O00
New-York tribune., 1914-11-26
OCEAN FREIGHT RATES

Ffcch's offered steadily IN several of tie trans
a. artic trades aud moderate amount 0f charter.
ing completed. Rates head firm and tonnage offered
spafiuEy Tor prompt loading Quotation, 10 Liver.
pool ~; Loudon. "a Glasgow. 6.d Hui and
Bristol ~. picked pols .-rse toaE4gs. Is 81. cot-
steamer 5000 lrs. sfau. New York % Rotterdam
s. Dee. Bf steamer lpreviolslyl. - 000 qrs. grain.
steamer. 81 600 qr. same sth options Dee 81
steamer tpreviousyl 80 900 Qs. Erala. Gun % Ma
sel.lts 20 Genoa. - itgd. option Maple - 81.
Dec, Bf steamer 1000 qs, same IS 81 aud IS
i1d respectively. Dee, Greek steamer. 20 90 qrs.
same. 0s ami IS lht. respectively Dec-Jan. Bs
S0s. nov. ha steamer. os9 tons lpTcyouslyi cosi
Firsinia % w haly, 2os Dcc. Sged steamer. g. j63
t0ns. general cargo. Safalnah o. Denmark. is 81.
Dec. SWed steamer. 80 tons same from The Gulf
SIS 81. De Nor steamer. go tons. SANE. Beig
steamer. i.e05 tons. timber. Cur % " q f,4y.
i5js. Dec bark. 10 00) cases petroleum. Phiz %
tsO ports Japan. ztc. prompt.
New-York tribune., 1914-11-26
PREPARING FOR
EXCHANGE OPENING
Atmosphere of Cheerful
ness in Brokerage
Offices.

Preparations were actively under
way among Stock Exchange firms yes
tordny for the long awaited resumption
of dealings on the floor of the Ex-
change. While as beginning bust
ness will be restricted TO listed bonds
at fixed minimum prices, there was "A
hopeful sentiment that it will not be
long before the present embargo on
stocks is also removed.
Among brokerage houses there was
a hustle and an atmosphere of cheer
fulncss that has not been seen since
the closing on July 81, Steps were
taken TO restore telephone and tele-
graph services that were discontinued
when 10 became known that the official
market for trading in securities would
be shut of for long period. En-
ployes of number Of brokerage firms
were notified TO return 20 their former
Jobs, and a division of the army of
Stock Exchange messengers was in
structed to report for duty on the floor
under the restricted form Of trading
that is 10 prevail for time.
In view of the army of Wall Street
employees that was thrown out Of work
because of enforced economies by
Stock Exchange houses following the
closing Of the exchange, Charles l..
Burnham, chairman Of the Wall Street
Employees Relief Committee, called at
tcntion to the fact yesterday that there
were several hundred applications for
employment on the committees list,
most Of them men and women expert
enced i'm financial work.
Members of the exchange were noti-
fed yesterday by Secretary George w.
Ely that on and after December | all
deliveries for sales Of stocks must be
accompanied by s.sales ticket stamped
in accordance with the United States
tax law, approved October 22 last. Fail
ure to aiiiX the stamps will be deemed
by the governing committee an act
detrimental 10 the interest and welfare
of the exchange" Assignments and
powers of attorney, or powers Of sub
stitution, whether detached, or in
dorsed upon certificates of stock, must
carry a 25-cent revenue stamp. A
brokers' note or memorandum Of sale
Of bonds must carry 10-cent revenue
stamp.
As forecast Tuesday, the board Of
managers of the Coffee Exchange yes
terday voted to open for regular bust
ness next Monday for trading in coffee
only. The call for sugar trading has
not yet been issued.
New-York tribune., 1914-11-26

E.--TrI. 31I9. a clTII-I lI saf- ITI'rs 'Ield5,
.... llsl-m 4Ll .isIt .c.sl's c..lIg at s. IS -.
,.r....4 hogs steady d, llels-. roasting PIGS. "a
s....-T.Ulr a. shannon. 90 state hos 80 ID
.g..a = s. O. qer llo .8. 1IIgh.. 3S5. 81 -. /
ltas -i0 s. So date yestafdayl 10 state hogs. no.
. ;. sanders. 10 s,.,s hos. Is9 10. pIs. rough
New-York tribune., 1914-11-26
TRADING In THE
CURB SECURITIES
Business Quieter. with an Easy
Tendency in Prices-0il
Shares Irregular.

With an easier tendency in outside
security prices yesterday trading in
these issues was conducted on a dimin-
ished scale. The initial appearance of
Consolidated Gas bonds was a feature.
They were quoted at from 1929 TO 1l2,
with the rights selling between 3l4
and 8. Considerable irregularity was
manifested IN the oil shares, which
were moderately dealt in, South Penn
Oil receding IS points, Standard Of
Indiana .. while Northern Pipe Line,
Prairie Oil and Gas and Vacuum Oil
advanced points each.
Riker & Hegeman was more actively
traded in. but ended the day unchanged.
The rights improved 8 points United
Profit Sharing Corporation continued
its rise, going to 1Ji2, with the final
quotation up 8, Of a point. Mining
shares were less active and generally
weak, Tonopah Merger declining >
nOlufe
New-York tribune., 1914-11-26
COFFEE EXCHANGE
TO OPEN MONDAY
Prosperity for City IS
Now Bounding Along,
Saws Underwater.

With the Coffee Exchange throwing
open its doors Monday morning an
other of New York's vast interests
will be placed on normal footing and
the city will find itself one step nearer
20 complete recovery from the hnau-
cial havoc wrought by the European
war.
Every exchange IN the city will be
in at least partial operation next week.
The Stock Exchange starts business
Saturday, dealing only in bonds for the
time being. The Cotton and Metal
Exchanges are open, and brokers are
buying and selling grain on the Con-
solidated floor. The Coffee Exchange
viii be the last OF the quintet TO cone
back.
The board Of managers of the Coffee
Exchange announced the decision 30
open shortly after midday yesterday.
The announcement was greeted with
enthusiasm by the coffee men. Tho
exchange has been closed for four
months.
New life Insurance policies paid for
in greater New York during the iirss
ten months Of the year show an in
crease of 10 per cen. over policies paid
during the sponding period Of
surance agents read yesterday at
meeting Of the Life Underwriters As
sociation of New York.
During August and September the
average fell behind the same months
OF last year. but showed an increase
IN October, especially with regard 20
partnership and commercial insur-
ance.
Probably no business" reads
statement given out By the association.
"is so close to all the people, rich and
poor alike, as is Insurance, and there
should be none better as a barometer
Of conditions.
"This fact should be Of interest 90
the public, as it indicates conclusiyeiy
that large percentage of the business
community is making money From
the reports at hand we assume that we
shall close the year ell ahead Of last
year, and the prospects for 1915 nave
never been better. The general tone Of
our business is now very optimistic"
New-York tribune., 1914-11-26
NFw YORK CITY BONDS.
,,-ni.h.d ty ". y. Coler & 20. q
DIVIDENDS DECLARED.

-,rnon interchangeable. Registered or
lr0n fRegister,- Sopuonal 1880
New-York tribune., 1914-11-26
HAY AND STRAW.

NETte' T'H IIIT 1II Weak ffl'l3 ~ sVc0nIaIy
imp0rfmco i0 rulius buyers. and outside qIuia'ious
generally tyt.Clr. LdiSo balod new hay, TON. tltn-
Oils. paine. So. 40 l. S2I: No s to so ?. Si7gt
$50. fancy Ne..t clover mixed S1Cs $50 90. 10. /
clover. mfle.l stfteie. 40 I clover. SO; altaft
a. 20 quau', sisgt-2. re straw. 30 ,. slS@Si5 %
New-York tribune., 1914-11-26
CHICAGO STOCKS STRONG
Minimum Price Restrictions
Removed by Exchange.

Chicago. Nov. 25-The minimum
price restriction on practically all
stocks traded in on the Chicago Stock
Exchange was removed to-day, and
beginning FRIDAY trading will be with
out price restrictions, except on SUCH
securities as are listed on the New
York Exchange also and closed II SIS
share or lower on July 30
The Stock Exchange here opened
Monday, and as a safeguard ii was
ruled that stocks could not be sold
below the closing prices Of July 80.
except where a dividend had been de-
Quoted. The stocks. however. have
shown no apparent need of this sup
port, but, on the contrary, have gen
orally registered advances.
The action Of the exchange is re-
garded in La Sale II. as important in
showing the strength OF the market
New-York tribune., 1914-11-26
,,,.,-n,s5.l py H. T.. Mcconnell & Co.. ?
u Pine ST.
nuortime on War Orders.

spar value so
New-York tribune., 1914-11-26
City Record" Contract Let.

p. 5e Martin B. Brown Printing and
.'o'hs Company which, with one ex-
I"on' has held the contract for
,.., ,...,",Ing Che City Record" the munich
,-- .p9pei. Tor many years, received the
+, I'lac- Ior Che coming year yesterday.
pa was awarded By the Board Of City
,,,,Siyla' consisting Of the Mayor, Con
i'9'ef and Corporation Counsel. The
,-9 -l OF the Brown company was Sl62,-
'o' TIE only other bid. that Of Will
D. Dh Bratter & Co.. was Si72.75O. The
'..s p company got Sl56,525 for the
'''H tnis year
New-York tribune., 1914-11-26
BRIEF WALL STREET NEWS

Directors Of the South Penn Oil Com
faly have deferred action on the quar-
,a.y dividend due 20 be declared at
his time The previous quarterly divi-
cela was also omitted, but In the first
.ro quarters OF the current year total
dividends OF SIS a share were paid.
The Tonopah Belmont Development
Company has declared a dividend of
l2e per cent, payable January /. Three
months ago O dividend Of % per cent
was declared
The amount Of emergency currency
retired yesterday was S5,O35,Oo0, bring
mg the total 90 date up to S75,130,320.
New-York tribune., 1914-11-26
FINANCIAL RECORD
HERE And ABROAD
Investment Inquiry Grows
Money Easier-Lower
Sterling Rates.

v-,.veement Of investment inquiries
..,ssv gave promise Of liberal buy
.ricrs when Che stock Exchange
poe FOR trading in bonds on Satur-
~ The foreign exchange market IN
,.- ,'s sterling rates indicated its dis
Y.r.f in any food Of foreign lQuida-
~. ;rrending Though it was the
~ holiday, business in listed
us through the stock Exchange
- house was reported as reach
et"'.h largest total since the out
lns ~ lie war. Money rates worked
5fesn ss and liberal offerings in
Oo"5 tbat market requirements for
,. r., saturday would be amply
r,vT,se commercial bills were still in
r-r. supply. demand sterling
80 ...r,j lower and relaxed as the oay
w. On. with slight uptutn az the
.ic.e Speculative accumu.atlon TO
Me-. Che needs OF greer ooho business
'N,] d, have been overdone. Al the
PA az business demand sterling, was
-. threc-cichths Of q cent down,
"a cables had made a similar receS-
s.s,. French exchange held talrly
steady. 60, noo5 5o
- bv thc banks in this city and
--.aherc and was taken generally at
~ cent. with lower rates m some
'.,.srces. Money ON call and time ae-
.....-.~,oia..or was ofcro at from 4is
.tS rer cent. and the general ten
s.-.y ~ t.e money market was tow
--l further ease. There was less
f...rir,,rator as 90 collateral than a
-.t AGO. Clearing House certificates
ss-e il is understood, are now almost
IN retired. Emergency currency is be-
.-- steadily turned I'm all over the
.,,-+-v. save from the South and
S--.lvest About ouc-Quarter Of the
MAXIMUM issued has now been can
cellei .,
,,ssue~ on their departure for Eng
,sri Dsid tribute 20 the improvement
~ our financial conditions. Inquiry,
however. is recovering less rapidly.
Steel trade publications tell Of better
-.ovemert of pc non and g slight
rsir IN some quarters IN orders for
fr.sfed stee. Producers are said 20
3, oFerirc delivery for the first quar-
,er of next year 40 reduced prices.
Southern railroads IN lower earnings
Ion October refec, the depression in
cotton. "
The new German loan Of 5.oOO,0OO,-
900 marks. which IS expected TO be au-
.sorized next week, viii. 10 is now eX-
-'sired. he for future needs, funds al
ready "a sed being sufficient 10 finance
o9erat.ors for some time. The Brit
isb Chancellor OF the Exchequer will
soon announce the amount of sub
scription Co tho British war loan of
S56O0o.O00. The Bank of England
yesterday set aside f1,000.000 more tow
ard reserve against the new treasury
notes. L is apparently the intention
20 Strengthen this reserve until the
notes are fully secured by gold.
The reC.0na. bank here named as
i.s representative on the advisory
counsel for the Federal Reserve sys-
ten ]. P Morgan, who has taken such
leading part in relief measures
Throughout the recent crisis. This
vas generally regarded as a most hope
tal Indication of better understanding
between federal authorities and the
great fnauc.ers Of this city. who hold
SO important place in the nations
.ldgsIa. life.
New-York tribune., 1914-11-26
THE METAL MARKETS.

COPPEH--Ths local street market was Hrm. With
electfolytlc quoted Al I2i.c and casting a i2i.
lg.c. III Lorion copper closed a. t55 : 81 iof
,D1t and s.5 l2s 81 Tor futures Electfolytic spot
10 London was quoted al tjS -.
TN locally Wa nrin. with spot Oh lots ~ tfe
tons quoted a, A85ifJc an1 n aston lots AZ
"a 5-c tsked H. london TN closed a. lii0 l0f
standard spot. tli0 is fof futures and tlis Tor
straits spot.
LEAD steady. New York spot 3.s0atc and East
- Louis. 3.f5gj.s5c. II London lead closed al
40 IS 80.
sPELTER steady. New York spot 1905 SOC.
ald East 81 Louis 5.0j9JlJc. London sps -
closed a. f-j - 81 Ter 49,
New-York tribune., 1914-11-26

l.aic on Monday sales vcre midr NJ COO bags N
't.l1 tD 90 tr'crai0r. for March shipment, Al q.
nai and i0lgAt. caua 10 l.Dio for centrifugal tbs
Hfiti 'l0sni firm at Vic FOR centrifugal, we f1f
tha last sale urlrss Tor spot stippllr, Wil.t q
cray report the receipts A. United E'atef Atlantic
tnrl iof is week lG0l0 tnns. against 4.sol lest
cck. Isis last year aud llsf iu 1872. melili =,
$1,000, against 5000 5000 and 10000. aud total
stock. -oitN, asalns. 35.Gls. lQS.i3l and cs.ls
trus. respectively
New-York tribune., 1914-11-26

Milwaukee. Nov. %. knitting mills
yv;scorsi1 are working on orders
go'r 596 .0O0 pairs Of woollen socks and
,0n aGo sweaters for England and
tyyc FraDcc il was made known to-day.
Tbe mills are running day and night
New-York tribune., 1914-11-26
CHICAGO GRAINS LOWER
Export Demand Prevents a
Slump in Wheat.

Chicago, Nov. 25.-Bearish esti-
mates of the Argentine exportable sur
plus acted as a weight on the wheat
market to-day, but were offset in part
by a decided revival of export demand.
Prices closed unsettled at the same as
last night 70 nc to Sc down. Corn
declined sc 70 l1sc net, and oats t2c
10 SIC. Provisions finished unchanged
TO soc lower. Assertions By high au'
thority tina, Argentina would probably
have as much as 20,000,0O0 bushels OF
wheat available for export led 70 much
selling here, including some Of stop
loss character. The bears also were
not slow 20 take advantage OF peace
rumors and of authoritative reports
indicating that the worlds winter crop
of 1915 would be the largest ever
seeded. The ensuing decline in prices
was not checked until a leading expert
here went on record with an opinion
that the Argentine surplus would not
amount to more than 80,000,OOO bush
els. Signs that an immense export
business in wheat had resulted from
the setback in prices were decidedly
helpful toward the rally which was
the chief point OF interest during the
last part Of the day. Total sales 20
foreigners were figured at upward OF
100000 bushels.
New-York tribune., 1914-11-26
PUBLIC UTILITY NOTES.
General News and Earnings of
Various Corporations.

The consolidated earnings statement
Of the Kansas Gas & Electric Company,
the Portland Gas & c Ike Company. the
Pacific Power & Light Company and
the Southwestern Power & Light Com
pany'S subsidiaries, controlled by the
American Power & Light Company,
SHOWS an increase in gross income Of
~ per cent Tor Octoner and "A gain Of
10 per cent IN net revenue Combined
gross earnings of these companies to-
tailed So62SSS. as compared with S5l3,-
500 IN 1913; expenses and taxes showed
a small gain, and net earnings were
S2iS,N6l, an increase of S36,1lS. A
higher percentage increase is shown in
the report covering operation for the
twelve months ended October 81, gross
earnings, which amounted 20 S6,52S O64,
were II per cent greater than in the
year preceding, while net earnings in
creased S4A5,99l, 70 S3,045 $40, or Il
per cent greater than in 1913.
Mount Whitney Power X Electric.
Operating revenue Of the Mount Whit
ney Power & Electric Company for Oc-
tober was little changed from that in
the same month of last year, but the
twelve months report gives consider
ably higher earnings than IN 1913. The
company earned SOL. .709 gross revenue
IN October, net earnings were S29,514
and surplus, after charges. amounted to
Sl7,l56. d decrease OF SSS7. Gross
earnings for the year ended October
81 showed an improvement Of over 10
per cent? total revenue amounting to
S650,SI0, and net earnings. which to-
tailed SSS0,100. were nearly % per
cent greater than in the year preccd-
ing. Surplus increased S50774, to
S2ll.625, equal to a gain of nearly 26
per cent.
San Joaquin Light 4 Power.
The income account Of the San Joa-
quin Light & Power Company for Oc-
tober makes a less favorable showing
than for the first ten months of the
current year. Gross revenue accruing
TO the company amounted to Sl61. .337
in October. an increase of S6.446 over
the same month in 1913, while gross
earnings from January /, 1914, totalled
Sl.553,72S a gain of Sl19,373. Net in
come for the period increased $780,
us, 70 Sl,070,714, and surplus, which
was S654,l77, showed an increase
of S191,736 over the corresponding
months Of last year.
New-York tribune., 1914-11-26

Liverpool cables spot. FAIR business doing; sales
600 bales. speculation AID export. 500 Aneric III.
900 Imports 900 none American. Anddling 10
land. Ii3d Futures opened quiet. Ssl points
months closed steady a. 2a2E points net decline
May-Iule. llii. July Aug. ig0fsd, oct NOV.
c0d. Jan teo., iS6d M.ncles,eF-Isr. QUIET
cloths An moderate demand
New-York tribune., 1914-11-26
LIVERPOOL MARKETS.

Llrcrroo,. NOV 2I.-wHEAT-spot easy: No >
hard winter D. 6i.d Futures nominal CORN
Slu' rm. American mixcl. new. = Future xeAk.
nsc-mle-. -i ti.d. January. IS c.d BACoN-
Cumberland cut. % 20 50 .b GNs 3D. sHOt LDHks
square. bis LAKD-Primc Western. tierres nrN
terms. 53s old 4o As So. American refined palls
So Cd. t5-lo bores. As ID.