davidaulloa/AmericanStories huggingface dataset:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-03-21
COTTON CROP MOST
VALUABLE GROWN
More than ,0OO,OOO,OOO in
the l4,767,l5l Bales Pro-
duCed This Season.

Washington. March N.-The 1918 cotton
crop was. the most valuable ever grown
and second largest in point OF quantity.
Statistics announced by the Census Bu-
reau to-day indicated that IL amounted
10 1883, 557, 500 pounds, or a. 757 ISL bales of
lint and Inter cotton. The total value
Of the crop, including the value Of seed. is
unofficially estimated roundly at more
than 1900 10000. compared with last
years $500 10000 and 1868, COZ. 900 for the
previous most valuable crop, that OF 1910
The production figures compare with
l3,703,i21 equivalent 1O-pound bales OF
lint and 6o9,594 bales OF linters last year
and 1852, 70l bales Of lint and 557 SIS bales
OF linters in 1911
With this report the bureau departed
from its previous method OF reporting the
cotton crop by not including the quantity
OF linters in the total production. Di-
rector William J. Harris aAnounced that
this was done because with the installa-
ton OF modern machinery closer delinting
of seed had largely increased the quantity
OF linters and at The same time lowered
the average quality of the FIBRE so that
now only a small part, II any. was used
as a substitute for lint cotton
The. figures include 29,267 bales esti-
mated yet to be ginned; round bales IN
cluded 1886, and sea island, Il. 400. The
average gross weight of a bale was sos
pounds and the number OF ginneries OPP
Grated was 1880.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-03-21
TRADE CONTINUES QUIET
Buying Still Conservative
More Unemployment.

The commercial agencies report trade
conditions quiet with reports Of lessened
employment in textile manufactures gross
earnings Of railroads still lower, and COM
mercial failures for the week largely ex-
ceeding those for the same period OF 1913
Bank clearings, however, are only IL per
cent less than in the corresponding week
Of last year.
"Dun's Review" will say to-day:
Broadly considered. conditions are at
present quiet although Indications Of
progress are not wholly absent Reports
from the leading commercial and indus
trial centres, however. are still irregular
and it IS evident that as yet there is no
uniform trend toward improvement. Pro
nounced conservatism in the matter Of
future commitments is apparent in the
drygoods markets, and reports OF les
sened employment a textile manufactur-
ing plants are rather more common.
Statistics Of trade movements still
make adverse comparisons, gross earn
ings Of railroads reporting for the first
week of March being Sc per cent less
than last year, while bank clearings this
week were IL per cent smaller than in
1913 and 81 per cent below those in 1912.
Failures this week numbered BAT in the
United States, against 29i last year.
"Bradstreets' has the following
"Betterment in current distributive
trade at the West and excellent advices
as to winter wheat sharply contrast with
q less satisfactory situation in iron and
steel and uncertainty caused by state or
national governmental activities, which
tend to becloud the future and hamper
enterprise. manufacturing as well as
financial. Bituminous coal operators are
facing uncertainty regarding wage scales
which expire April !. However, a more
favorable picture is presented in the sub
stitution Of favorable for especially un-
favorable weather, and this has quickened
road as we'll as house trade, while IN
ducing buyers TO visit the larger mar
kets, chiefly in the West and Southwest
for in the East movements seem to lag.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-03-21
URGE BANK BILLS PASSAGE
State Bankers Association to
Send Delegation to Albany.

At joint meeting of the council OF
administration and the legislative COM
mttee Of the New York State Bankers
Association yesterday in tho rooms OF the
American Bankers Association, IN tho
Hanover National Bank Building. 1t was
voted unanimously to send committee
OF nine TO Albany to urge upon the Gov
ernor and Legislature the passage OF the
Van Tuyl banking bill at the present ses-
sion.
The committee appointed consists OF
Robert II. fireman, president OF the
Tompkins County National Bank, Ithaca,
y. Y; James I. Perkins. president Of
the National Commercial Bank, Albany;
William j. Henry. secretary OF tho New
York State Bankers Association: James
S. Alexander, president OF the National
Bank Of Commerce, New York; E. o. Ell
dredge, secretary OF the Chemung Canal
Trust Company Elmira Cornelius A.
Pugsley. president OF the Westchester
County National Bank. Peekskill. ex
oficio Pierre Jay. vice-president OF the
Bank Of the Manhattan Company. New
York; F. A. Sawyer. president OF the
Citizens Bank, Waverly. n. Y, and Ed
ward J.. Newell. vice-president OF the
Peoples Bank, OF Buffalo.
Sentiment among tho members of the
association was reported as overwhelni-
ingly in favor Of the immediate passage
of the bill.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-03-21
Crowding George w.

There is no reason to believe that his
tory. which takes its time about making
judgments. will try to crowd Willard v.
King into the same niche with George w.
Perkins. but Wall Street critics, who are
rot so deliberate. certainly Gid so yester-
cay. Mr.. Perkins had the misfortune TO
be taken too seriously on one Of the oc-
caslons when il would have been better
as events in that very eyentful year 1901
uoyed-to have let his remarks take their
habitual course. But what Mr.. King was
said 10 have said about Missouri PACING
ia Washington yesterday was not really
ia category with Mr.. Perkins's emana-
ton on another theme. There was q
passing likeness. but that was all as
Mop" ruling strong and closing at the
top plainly showed.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-03-21
On Two Name Paper.

on the part of the Clearing House Com
mittee there is disposition TO regard the
outcry over the recommendation to the
Federal Reserve Board Of two-name paper
az tempest in teapot A banker said
Yesterday that there was small likelihood
Of the member banks doing much re-
dscounting with the federal reserve
banks, except in times Of stress. Then, he
said, it would be better to have available
two-name paper unquestionably represent
ing commercial transactions than one
name paper. because the flrst-named class
would be sure on maturity TO retire itself
and the federal reserve notes issued
against It. That was practically the only
point Of preference for two-name paper in
the Clearing House Committees recon-
mendation.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-03-21
BUSINESS REVERSES

EDWARD :. LUTHER Petition OF Edward
:. Luther living at No. 400 Riverside Drive,
with liabilities Of $50, 345, and assets $3.50. on
a judgment. He has also 200 shares Of stock
OF the Ferguson Contracting Company and a
contingent interest in 10000 shares OF the
running Company Of America, OF value.
He was formerly president OF the Funding
company OF America, against which petition
In bankruptcy was filed January 7. 1913. a
large part OF his liabilities for indorsing
notes OF that company.
q. W. ROBINSON & CO--Neson b. Wolfe,
trading as q. w. Robinson d Co. sailmaker
at city Island filed petition. Individually
and as surviving partner in the firm. The
Liabilities are Sl2,GI3; assets Sls74 consist
ing OF materials, 800; machinery, $500; Of
nee furniture, 500. accounts. 81 173. and cash
In bank, 81. Mr.. Wolfe has personal debts OF
5000 Mr.. Robinson died January ~ last He
started the business in New York City in 1903
and moved to City Island in February 1910
They made sails for racing yachts Judge
Hough appointed Matthew A. Henbel receiver;
bond. $1,000.
CHARLES wEIss-Peution BY Charles
Weiss, salesman. OF No 3O1 West l07th
street. with liabilities OF ST. $50 and no assets
Among the creditors are the ArIwright Club
S3S dues. and st. Nincents Hospital, $50. He
was formerly dealer in cotton goods
SMITH &c HBSSLER COMPANY.-Petition
against Smith & Hessler Company, bookbind-
ers OF No. 100 Greenwich street, By j. Frank
carleton a creditor for S703 on an assigned
claim for services Of accountants. II was al
legged that while insolvent the company made
preferential payments to Charles Throckmor-
ION, the president. OF $500 for services and
5000 for rental OF machinery and $500 to
other creditors. The business was started a.
firm in 1899 and Incorporated in January,
1904, with capital stock OF 100000
BERNSTEIN & GREENMAN BROTHERS.
bernstein e Greenman Brothers, manu-
facturers Of embroidery and novelties, Of No.
81 Union Square, this city. and No. 757 to 70J
Nythe avenue and Nos II and 10 Howard
street. Brooklyn. have made an assignment 10
Morris B. Arnold. A petition was fled against
them by these creditors: Edward A. Fischer,
300 Murray Kanner. s117 and Henry Kapell,
$50 The firm began business NAV l. 1905
The ceed OF assignment was filed by Joseph
Bernstein and Joseph Greenman
SCHEDULES IN BANKRUPTCY.
T. JOHN UMBSTATTER, Jr.-Schedues OF
T. John Umbstatter. jr., dealer In clothing and
mems furnishings al Mount Vernon. show la
bities OF S6,344 and assets OF So. 900; stock
$1,000 and fixtures. 81 600
RECEIVER APPOINTED.
AMERICAN LAMP SHADE COMPANY
Judge Housh has appointed w. L. Bryant re-
cever for the American Lamp Shade Com
pany. Of No. 5l2 West Seth street. Assets
are So coo
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-03-21
'FRSCO'S DEBT IS
CUT BY $4,6O0,OO0
Agreement Is Made to Re-
turn Two Branch Roads to
Promoting Syndicate.

St Louis, March pa debt OF moro
than 81, 10000 which the ST. Louis q san
Francisco Railroad owed Albert Il. Per-
kins ss syndicate trustee was cancelled
by the terms Of an agreement fled with
United States' Circuit Judge Sanborn to-
dav. Two OF the subsidiaries OF the rail-
road revert 10 the syndicate which pro-
NOTED them.
The agreement which was reached
after six weeks OF negotiation, provides
for the surrender 10 the Frisco OF notes
aggregating s3,9Si000 held by Albert r.
Perkins, syndicate manager Of tho ST
Louis Trust Company. relieves the Frisco
Of liability to take up bonds sggregating
s166. 900 held by the ST. Louis Union Trust
Company and cancels claims OF the la
ter company against the Frisco totallins
s., 3S3. 000
Some OF these items overlap, but James
W. Lusk, chairman Of the receivers. said
the cancelled Indebtedness would approx:
ma tie "a 100000.
The surrender of the two subsidiary
lines-the New Iberia q Northern and the
New Iberia, st. Mary & Easternit was
task of reorganlzing the Frisco The
surrender OF the roads, moreover, means
a separation Of the parent line from two
of the small non connecting roads, the az
quirement Of which was Investigated re-
Gently by the Interstate Commerce Com
mission
Officials OF the Frisco were interested
in the syndicate which promoted the New
Iberia. The notes held by Mr.. Perkins
were given by the Frisco a few days be-
fore the latter went into the hands of re-
ceivers
The Frisco by the terms of the agree
ment also RECEIVERS four blocks Of land in
Dallas. Tex, worth $4,000, pledged 10
the trust company to secure q mortgage.
The Frisco also transfers to the trust
company all its claims to tho contracts
for the construction of two branches of
the st. Louis, Brownsville & Mexico
Railroad
LOOMS c. Johnson, attorney for the re-
ceivers. said the settlement reduced tho
systems Indebtedness by moro than g.
100000 and averted a long litigation.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-03-21
Cotton Planters to Have
Help of City Bank in
Financing Crops.
AN TO WAREHOUSE
ONE MILLION BALES
oo,ker Does Not Expect Much Re-
discounting with Federal
Reserve Banks.

- deal OF interest has been aroused
satirg quarters by the plan OF certain
growers and capitalists In the
..,b 70 form an association TO hnance
cotton crops. The plan has been In
-.,otlon before but never on such
80 foundation as is now proposed.
o..at lends especial importance 70 the
..ss,,t undertaking is the fact that IT mas
- sunport Of James e. Duke, the TO-
90 nnagnate. and the probable CO
.,o,,on Of the National city Bank. The
location. 70 is said. VIII be able 10
e,ora 100. 900 bales Of cotton. against
,,.h will be issued warehouse receipts
$50. can be negotiated with the banks.
-sa National City Bank is prepared 10
taodle as much as 100000 of the asso-
r,otion's paper. In a way the plan has
,erninder in IL Of the old tobacco currency
-, Colonial times. Then the warehouse
,.-.iAcates. money being scarce, were
God es currency. But. because there
...,a great fluctuations in production or
,obacco and large variety of grades, the
tobacco currency had widely different
,a,,es in different parts of the country
and eventually had 70 be abandoned. In
This case the warehouse receipts them
selves will not be used az currency
Enough if they are made the basis Of notes
hat are redscounted with the federal
,eserye banks they will be basis for cur
,sncy. The bank notes arising indirectly
from them cannot depreciate. because the
mans made against the receipts will be
much less than their market value. just
a. loans on stocks are. and because the
cotton represented by the receipts will be
carefully graded and standardized.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-03-21
STOCK EXCHANGE
ENFORCING RULES
Wants Corporations to Comply
with Its Listing Requirements
Getting Results.

In its efforts TO reform itself from with
in the New York Stock Exchange is now
directing it's attention to stricter en-
iorcement of the rules governing the list
ing of securities. The listing committee,
of which W. W. Heaton is chairman, has
been in correspondence with several cor
pora tons which have been remiss in liv-
ing up to the requirements regarding the
publication of earnings, and 1t was an
nouncsd yesterday that many OF the com
panies and the exchange are working IN
harmony to bring about obedience to the
regulations of the exchange.
Among the corporations against whom
some criticism has been directed are the
Mackay Companies and the American
Wooden Company. The listing require
ments specifically state that they must
submit at least fifteen days in advance Of
the annual meeting of stockholders an
income account and balance sheet, not
only Of the parent corporation but also
Of all subsidiary companies.
The American Wooden Company has
signified its willingness TO comply vita
the listing regulation. and recently sub
mitted as evidence of its good faith
balance sheet of the Ayres Mills, its prin-
cipal subsidiary, for the years 1912 and
1913. This was only meeting the listing
requirement half way, however as an in
come account is also called for. The eX-
change officials feel. however, that the
company will fully comply with their
regulations later.
Negotiations with the Mackay Com
panies are still under way, but member
Of the listing committee said yesterday he
was hopeful that this company would fall
in line Its argument for not living up
10 the listing rules in the past has been
that it views its subsidiary companies as
investments, and for this reason there IS
no occasion for publishing balance sheet.
Few of the corporations now listed on
the exchange comply with tho require
ment concerning the publication of the
annual report fifteen days in advance Of
the annual meeting.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-03-21

SUGAR-Trading in refined was quieter.
with all rehners taking orders on the basis OF
3s5c for fine granulated, but list prices In
some instances were 5 points higher. There
was no change in raw. and while there were
rumors that some sugar for prompt shipment
had been sold at 3I-32c they could not be con-
hrmed, and holders were asking &c for prompt
and April shipment. No sales were reported
and spot prices remained unchanged at 3olc
for centrifugal, 38c for moiasses anc Ic .or
Cubas cost and freight In London the beet
sugar market was firm early, with spot and
April quoted at es 2Ad and May at De 80
Tor Nav and as SID for August. wileu q
GRAY: Total stock OF Europe and America.
4.l2I 1872 tons against 3,93s. $50 tons last year
stock 4. Ise %o2 tons. against an increase o,
IsS Ols last week Total stocks and ahoats
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-03-21
OCEAN FREIGHT RATES.

Steamer chartering was fairly active. rates
were steady and tonnage offerings limited.
Quotations 10 Liverpool. 1l.d, nominal; London
and Glasgow, I'D Rotterdam. &c; Hamburg
and Bremen 30 pfennlgs; Hull, 3D. April.
Bristol. %. April Cork. for orders. Is 81.
nominal; picked ports. large tonnage. Is Cd.
cotton TO Liverpool. ger 100 ID. 20c asked.
HARTERs-Brltsh steamer, 320i tons,
nitrate, west coast South America 20 the
United Kingdom or Europe. l9s, April; Nor
wesian steamer. 1919 tons, same foreign
steamer. tons. rails. Sydney. c Is, 10
Duran lis, April; British steamer. 22sl tons.
transatlantic trade one trip on time charter,
private terms delivery New York, prompt;
Norwegian steamer. 1881 tons. coal. Baltimore
TO Genoa Or sayona, lis prompt; Austrian
steamer, a. III tons, cotton. Port Arthur 70 Rot
terdam. 30s April Norwegian steamer. 2 4e4
tons West india trade, twelve months. $500,
April; Norwegian steamer 2,e23 tons. same,
June: British steamer. 29o7 tons, came. one
round trip. basis 3s Sd. prompt; Danish steam
f125. prompt.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-03-21
Gold Shipments Delayed.

International bankers have as yet heard
nothing definite about the Argentines In
tention TO draw gold from here. The lat
est advices from South America and Lon
con show exchange rates still some dis
lance from the point where withdrawals
on the part Of the Argentine OF gold from
New York can DO brought about at nor
nal cost. There is nothing to indicate,
either. that South America is so DESTROYS
Of getting gold that she will pay a pre-
MUM for IT, as the Bank OF France did, by
allowing interest in transit. AS for ship
ments 70 France. continuing the movement
that took s1s,OOO,O0 from here in the
first two months of the year, they depend
80 largely upon special conditions that
bankers refuse even TO hazard guess
about them. II there IL anything in
Precedent however. there is likely to be
resumption Of them next month.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-03-21
SUGAR PRICES FALLING
Now at Lowest Level in Twenty
Years. Say Refiners.

Sugar refners say the commodity rs
now selling at the lowest level in twenty
years, with prospects that the market
will go still lower. When the wilson
tariff law was in effect and sugar was
on the free list refined sold at 347 cents
pound. as against the present 3.1S cents
net cash. Never before In the history OF
tho industry. however. has graduated
sugar, while IL had the protection OF any
duty. sold as low as at present
Raw suga-. It the ruling price of 2sS
cents O. pound is said to be selling at
about the cost Of production, and for
some plantations below cost. Neyerthe-
less, Il is believed that cane sugar grow
ers will 10 ahead with the present crop
and make waat they can, as they would
lose moro by shutting down than by
working their plants. Heavy sugar crops
the worll over are declared TO be re-
sponsible for the present low prices.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-03-21
Place for Federal Ba nix.

With the announcement that the Chase
National Bank was going to move out OF
its present quarters in the Clearing House
Building in September the assumption was
general in Wall Street that the federal
reserve bank Of this district was planning
20 move in. AS yet, however, with the
Federal Reserve Board not yet organized
and the districts still 10 be announced. IL
not chosen. there is no saying where the
reserve bank will be located. The Chase's
present Offices, just under the rooms of the
Clearing House, would seem to offer an
IDEAL situation, unless larger quarters are
needed
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-03-21
GRAIN PRICES
TEND DOWNWARD
Wheat, Corn and Oats
Show DeclineS-COffee
Splits Changes.

While the MAY position in the wheat
market was relatively steady owing 10
small offerings. the general list was af-
fected by late liquidation. due mainly 20
the decline in corn. and the close showed
net losses for the day OF SGiac. Corn
was active but on a lower basis. due TO
profit taking and the fact that the edge
has been taken or the cash demand. The
close was at a net loss Tor the day OF iac.
oats closed at unchanged 10 &C down.
There were some sharp changes In the
coffee market yesterday and the general
condition was feverish. An early advance
was lost under pressure Of liquidation
sales and the close showed net losses OF
? points on some options and gains OF )
points on others. with cost and freight
offers ar lower figures.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-03-21
THOMAS DENIES FRICTION
Baer Did Not Get Out for That
Reason, He Says.

f. b. Thomas. president Of the Lehish
Valley Railroad. denied yesterday that
the recent resignation OF George f. Baer
as director was due 10 friction with the
board over traffic offerings which the
Reading wanted. He said:
There is not now, nor has there been
in the last ten years the slightest fric-
ton on our board OF directors. Mr.. Baer,
while a director and official OF other an
thracite carrying roads, has always, as
director of the Lehigh Valley, stood for
what ~ In the best interest OF tho COM
psny"
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-03-21
BIG GAIN IN DEPOSITS
Trust Companies of State Make
Good Quarterly Report.

Albany. March %. -Superintendent George
We van Tuyl, jr.. Of the State Banking De-
Daftment. announced to-day that the
"shty-one trust companies OF the state
reporting on December showed an in
cease Of tl51 .43l, 1873 in deposits in their
reports OF March g.
'"sir aggregate resources on March 2
"see N.nsss2.i+0, which was AN increase
" NH.z3.S3. Aggregate deposits were
''S'aSlZH. Aggregate loans were In
.lsassd from nC9. 7e5. iss on December 9 TO
NA.lly.0is on March z.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-03-21
Government Bonds Inert.

The government bond market is in
condition described by one expert as
stupid" There has been very little sell
rg by banks that got the special crop
deposits. although a large part Of those
eposits have already been returned to
ne Treasury. principally for the reason
hat 30 per cent Of those special deposits
were secured by commercial paper. But
~ the other hand there has been no buy
ng Of bonds by banks for the purpose OF
.aking out additional circulation; addi-
aonal evidence Of dull business through
out the country.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-03-21
Paving Rumely Interest.

Payment OF the $500 900 interest OH the
SO 900, 900 notes OF the NJ. Rumely Com
pany. due March ]. was begun yesterday
at the Bankers Trust Company. where
funds were deposited for that purpose. In
order TO meet this obligation the company
received part OF 100000 loan from
bankers. secured by farmers notes
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-03-21

PROyIsIONs-Trading va

PROtISIOSS-Tradlng was very inactive
and price changes were narrow PORK
Steady; mess. s23Gs23 80: family. s2iqs2e:
short clear. $40 25as22. BEEF-Mess Nsg
EXTRA India mess s2sds20. DRESSED HOGS
Firm: bacons. i2%GI2Rc; pigs. 1890. CUT
MEATs-Pickied bellies steady: l5%gl45c
sneciaI IL asked; city eAc, nominal; country,
sSfsEc. LARD-steady; middle West 1879
10 soc: city. lO%c; refined firm; south Amer
70 So. compound steady, shGshc. sTEAR-
iNE~steady: oleo. IL nc; city lard, sac.
COTTONSEED OIL Shorts were 5000
buyers. and prices were hrmer, closing at
slight decline from the top, but with net gains
OF s 70 10 points. Local contract prices: