davidaulloa/AmericanStories huggingface dataset:
Evening star., 1914-11-22
Federal Reserve Gossip.

The new banking law was put into
general effect Monday of last week. 1t
has not been given sufficient time to
get fairly in operation and many rul-
ings as to the working OF the system
may be expected from the federal re-
serve board. The showing of the New
York banks yesterday, in reserve gain.
over s170.000,0o0. bears out the claims
of its sponsors that the new law would
release from surplus reserves required
under the national bank act many mill
lions of dollars
1t is quite within the probabilities
that the rediscounting feature of the
measure will prevent the recurrence of
a manic but if this result is to be OBJ
,ained bankers will have to do more
and more of strictly commercial
business that the paper which they
may take in may be rediscountable un
der ruling of the reserve board.
The latest ruling that q stamp on
the paper rendered for rediscount, stat
ing that the proceeds have gone into
commercial uses, does away with much
of the objection that first developed on
the explanation by the board of COM
nnercial paper. 1t gives the banks lee
way and is not likely that the privilege
will be in any way abused.
But bankers should. and unqueStion-
ably will, make an effort to conform
more and more to the European Gus
tom of securing acceptances. II whole
salers will secure acceptances at one
itors real commercial paper will In.
crease in supply.
The presence in the city of these ac.
ceptances. purchased by a bank for the
investment temporarily of certain ex
cess funds, was noted Monday. Tht
paper came from the National City
Bank of New York more: its guarantee
was for coffee exported from Brazil
yielded 41a per cent, and was imme
diately rediscountable in any reserv,
bank; excellent collateral for fac,
value loan and the next thing to cash
In the pursuit of its efforts to max
'headway in South America the banl
named will probably obtain large quan
titles of this high-grade commercial pa
per and for investment of time deposit
or special funds they will always be at
tractfve.
Some Difference.
There can never be a panic with thi
Law in QSect. Why? Because panics ar
Evening star., 1914-11-22
Fraternal Order of Eagles.

Chairman Luther b. Hayes of the en-
tertainment committee has announced
that the next oyster roast will be given
Evening star., 1914-11-22
WILL SELL:
$4,000 Wash. Rwy. & Electric per
cant hnnds SOrL

$HsVOV w 0sn. hWy. d Electric PEI
cent bonds At SOM.
&Z,OOO Pot. Iclec. COnsld. SO mt 100.
$4,000 Cap. Traction Sc mt los.
10 Cap. Traction stock at 1907.
20 Wash. Rwy. pfd. mt SO ex. div.
sS Wash. Gas at 1884.
30 LanstOn at 90.
20 Mergenthnler at roo.
p Mupsey Trust at 81.
30 N. & w. Steamboat at ISO.
10 Metropolitan Nat. Bank at 1887.
SS.0OO Wash. Gas 40 at IO4.
l WILL BUY:
40 Wash. Gas stock At 72A.
10 Federal Nat. Bank at 128.
$4,000 Wash Rwy. 40 at 78N.
kS.OOO Pot. Eler. COnsld. So at 20.
$2.OOO Wash. Gas go at 1O2N.
Subject to previous acceptance or
cancellation. All executions for cash.
Buying and selling orders on all
listed stocks and bonds solicited.
will also accept orders to bay
and sell standard rails and indus
trials on the New Street Market.
New York, at going prices, plus y
Of 1 per cent commission. Deliver
les for cash at YOUR own baak.
THOMAS L. HUME, Broker,
1410 1t. Rooms Oil. Tel. n. lSAA
Evening star., 1914-11-22

For the use of soldiers a new COM
bination tool made of only three parts
can be used for twenty purposes.
Evening star., 1914-11-22
Independents Grow Rapidly.

The argument of the United States
Steel Corporation in the case of the
government to dissolve it contains
some very interesting data on the
growth of the steel industry. 1t shows
that the independent companies have
made much more rapid strides than
United States Steel. Charles Schwab's
work with the Bethlehem company is
strikingly shown.
The growth of the steel corporation
and OF the ten large competitors in all
finished rolled products is summarized
Evening star., 1914-11-22

Portuguese BARRIERS are beginning to
equip their shops with American chairs
and othel fixtures.
Evening star., 1914-11-22
Financial Gossip.

Seats on the Cotton Exchange. New
York, $500.
Kansas railroads have asked three
cents mile fare from the public utili-
ties commission.
Standard Oil of Ohio has declared
dividends of s3 for the quarter and a
like amount extra
The cut of !. of j per cent on the
Nerganthaler dividend was not a bull
argument, but it was SO much better
than expected that it is a cause for
thanksgiving by many holders OF the
stock in this city.
Chesapeake and Ohio earnings are
improving at a most satisfactory rate.
Evening star., 1914-11-22

Friday evening. December 4. There
will be meetings of this committee the
23d and 3Oth of this month and all
members have been requested to be
present.
Fred (Doc) Reh has returned from a
tour through the south. He visited
says the order is growing rapidly.
Many aeries have new homes under
construction.
twice month to every Thursday. it is
said, has proved wise, as the meetings
are now being largely attended. Each
member has been asked to take note OF
this change and to keep in touch with
the work of the aerie, fraternally and
socially.
The entertainment committee was
rendered an oyster feast Monday even
ing. After the meeting the entire COM
mittee, numbering thirty-eight MEM
bers, repaired to the rathskeller and
enjoyed fbountiful supply of oysters
the following furnished entertainment:
Eddie Coughlin and O. A. Williams
song and dance: Peter White. solo;
Gene Taylor. recitation: Eugene Black
solo: David Wolf. recitation; Eagle
Richard Edwards. George Denham and
Eddie Callan. several selections; Z. j.
McGolrick, SOLO
The members on the sick list are re-
ported convalescent.
During the past week the following
out -of-town members visited the home
J. J. Scanlon, San Francisco. Cal; Ar
thur NJ Kees. Rochester. N. Y; Burt A.
Mcknight. Joplin. Mo-: Samuel Richard
son, Boston. Mass; Arthur MossburR,
Leonardtown. Md: Joseph Sweeney.
Lexington. Ky. and John w. Stevenson.
Pittsburgh. Pa.
The nomination of officers for the
coming year will be made Thursday
evening.
Evening star., 1914-11-22
TRADE, OR EXPLAIN!
UP TO EXCHANGE
Why Reopening Was Deferred
Expected to Be Set Forth
by Governors.
CHANGE OF DECISION
OPPOSED BY SENTIMENT
Federal Reserve Bank Of New York
Makes It's First Report-Cash in
Excess of Liabilities.
snec,al pispatch to The Star.

Special Dispatch to Ihe Stat
NEW YORK, November 21.-Indica-
tfons were afforded today that the post
ponement of the reopening of the stock
exchange for trading in bonds will be
less prolonged than was thought likely
when the financial community learned
Thursday that the committee of five had
rescinded it's decision OF the previous
day to resume trading Saturday or
Monday.
A meeting of governors has been
called for Tuesday. Presumably the de-
cision of that body will be Anal. By
that time more definite knowledge may
have been given to the public concern
ing the real reasons for change of de-
cision of the committee. So far the
stock exchange has given no explana-
ton.
Opening Is Urged.
It is known that the committee has
received earnest advice from impor-
tant banking interests that it would be
wise to resume trading. This advice
will naturally be given due considera-
| ton when the governors meet Tuesday
| to consider the report of the commit
| tee Of five.
| There is much sentiment in the f1nan-
| cial district in favor of resuming pub
| lie quotations of bonds without further
| delays This sentiment is bound to
grow should the stock exchange au-
| thorities defer reopening much longer
| without giving adequate reasons for
50 doing.
The initial report of the federal re-
serve bank Of New York was issued to-
day. showing. as was to have been ex-
| pected, that the bank held cash at the
| close of business Friday in excess of
| 100 per cent of it's deposit and note
liabilities. The bank did some dis
| counting during the week. but this
amounted to less than the banks paid
| in capital.
| Comparison Not Possible.
| No comparison of the reserve report
| ed by the clearing house institutions
can be made with the previous week.
! for the reason that the figures are COM
| piled on an entirely different basis
| Counting both the reserve held in
vaults and deposited with the federal
| reserve bank and other reserve de-
posits, the statement showed a sur
plus of s17s.s3O.54O.
The circulation of the member banks
| which has been declining rapidly in
| recent weeks, showed further de-
| crease yesterday of more than S14,-
| 100000. Loans of the banks showed, as
| the figures stand, an increase of $13,
100000 for the week.
Evening star., 1914-11-22
NEW ORLEANS.

NEW ORLEANS. La, November 2l-
Cotton today made it's first real show
of strength since the future market
was reopened. With the census returns
on ginning unexpectedly heavy and
pointing to a record crop. the market
opened at the advance and kept rising
until the active months were 10 to IL
points up Shorts were confused and
covered in volume.
The real reason for the advance ap-
pc ared to be the operations of large
interests which control the long end of
contracts According to the gossip of
the floor these interests have during
the last day or SO been exerting pres
sure on the short side. with the result
that Liverpool holders of American
short contracts have commenced to
get uneasy Private cable messages
from the English market this morning
stated that these shorts were covering.
At the highest of the morning prices
are within Is points of the levels at
which the market reopened Monday.
! The close was at net gain for the
day of ! to points. offerings increas-
ing during the last few minutes of
| trading with the result that the ad-
vance was pared down.
Evening star., 1914-11-22
General Chemical Company

The General Chemical Company yes
terday declared an extra dividend of
5 per cent on its common stock pay
able February l to stock Of record De-
cember 81. This makes the years dis
tursement on the common stock IL
per cent. The regular dividend of IL
per cent on the preferred stock was
also declared, payable January to
stock of record December II.
Last year the company declared an
extra per cent dividend in cash on
it's common stock and stockholders
were given the right to use the divi-
dend to purchase additional common
stock at par. Two years ago the extra
dividend was ) per cent in common
stock. The present dividend is cash
with no option.
Evening star., 1914-11-22
Member of Clearing House.

The federal reserve bank of Chicago
has been admitted as non-voting
member of the Chicago Clearing House
Association.
Evening star., 1914-11-22
FINANCIAL-LOCAL AND OTHERWISE.
BY I. A. FLEMING.

due to inability of bank to quickly
turn its assets into cash. With this law
in force a bank can rediscount and re-
discount until every dollar of assets In
the vaults has been liauidated: then
there is no cause for failure 1aplhtles
have been paid off,
This was in substance and nearly YER
batim quotation of part of either Sena-
tor Shafroth's or Senator Owens ad-
dress before the District Bankers Asso.
ciation over a year ago in support OF
the bill then before Consress. II was
probably Senator Shafroth'S remarks
But the restrictions placed by the re-
serve board. the half of capital ana
surplus limit on the amount OF paper
any bank may rediscount. ana tne
further fact that there is considerable
paper in the banks not rediscountable,
in addition to all collateral loans. also
in this class, would prevent the con.
tinuous liquidation until every dollar OF
assets had been turned to cash..
No Stamp on Certificates.
Under the ruling of the Treasury De-
partment it will not be necessary for
owners of bonds. when filing certificate
of ownership with coupons, with or
ithout claims for exemption, to atflX
a revenue stamp thereto.
No Easy Task.
The National City Banks periodical,
the Americas. announces that the United
States Is not going to have an easy
time in it's efforts to secure more trade
in the markets of the rest OF the world
English manufacturers have inaugural
ed a campaign to secure the business
heretofore going to Germany, Austria
and Hungary.
The London Board of Trade is moving
along the same lines as proposed by
the American trade commission. Sam
Piles of various manufactured goods
are to be obtained and exhibited to
English manufacturers that they may
produce the class and grade of goods
desired for each market.
The establishment of the branches of
the National City Bank in South Amer
.ca is the most important step in fur
nishing credit for South American
business interests. Other banks will
probably invade the territory before
long and help along the good work in
the interest of American trade and
commerce.
Evening star., 1914-11-22
Money to Loan

Secured by First Deed of Trust on Real Fstata.
Prevailing interest and commission.
Joseph I. Weller. 6eo F St. NV.
Evening star., 1914-11-22

There can never be a panic with this
Law in 0Sect. Why? Because panics are
Evening star., 1914-11-22
The members on the sick list are re
ported convalescent.

The nomination of officers for the
coming year will be made Thursday
evening
El Paso herald. (El Paso, Tex.) 1901-1931, 1914-01-14
Gold Output Small For 1918
Silver Output Broke AllRec-
Ords For Production,
but Not For Value.

Washington, D. c.. Jan. 1.-THE gold
mining industry OF the United states was
again generally normal in 1913, according
TO the United States geological survey, but
since 1905, when II was SSs,1So,4OO. In
1909 it reached the high water mark of
s99G73 400. For 1913 the preliminary esti-
OF S-3O1,O23 a decrease Of $3.50, AZ from
the final figures for 1872
The decrease Is To De ascTlpeal mainly to
declines i'm the output from Alaska, Nevada.
South Dakota. and Utah. In Alaska the
net decrease OF over $500, 600 was due in
part TO the exceptionally dry summer of
1913 and the consequent water shortage for
both placer and lode mining
In Nevada the gold output declined about
10 percent. or over S1.30O.000. owing partly
TO decline in the average grade Of ore.
In South Dakota the production Of gold
uecllheu nearly @tgV'VuD rom the record
yield in 1872. but the yield was still above
the yearly average fOr the last decade.
In Utah, the falling of in gold yield was
over S675.OOO and was due chiefly to the
exhaustion Of the ore bodies Of the AIercur
Cold production increased over $4,000
in Arizona and nearly 100000 in New Mex
leo. and over 100000 IN Oregon. The in
creased production in oregon was largely
due to better Yield from established mines.
California retains first rank in gold out
put I'm 1913. followed in order by Colorado.
Alaska, Nevada. South Dakota and Utah.
Silver Production BreaICs All Records.
The preliminary estiusaues Of silver pro-
ducuon in 1913 Of bH6Ol-lll Zine ounces,
valued at s4O.864S71, was the greatest out
put Ohough not tiss greatest .value) since
domestic silver production began 1t was
the greatest value Of domestic silver out
put since 1898. The final figures for 1912
(63, $500 fine ounces Of silver. valued at
S39, 197, 5O0) showed the output Of that year
to be the greatest iu quantity Up to that
time, but the yield Tor 1913 gives an in
crease OF 3.S3A.311 ounces over that Of 1912
The highest market value of the domestic
silver produced in any one year was reached
in 1891 when il was $57,63O,0OO for S.
100000 ounces, the average market price
being therefore, se-6 cents a line ounce. In
1919 the average price was 61.5 cents an
ounce, and 1913 it was sos cents.
El Paso herald. (El Paso, Tex.) 1901-1931, 1914-01-14
THE QUICKSILVER
OUTPUT is SMALL,
Record in United States in Past Year the
Smallest in Over Half "a Century
Government Says.

Washington, D. C., Jan. I4.-The domestic
production Of quicksilver in 1913, according
to preliminary figures collected by the
United States geological survey, from the
Individual producers, was 1861 TASKS Of rs
pounds each. valued, at the estimated aver
age San Francisco domestic price for the
year of s39.33 at S774054. A comparison of
these figures with the final figures for 1912
shows a decrease Of 1888 TASKS and OF
S279,8S7. This is the lowest recorded OUT
put since 1860 and the lowest except in
three years since 1850, when the CONNER
cial production Of quicksilver began in this
country.
There were % mines reported productive
in 1913 against 20 in 1912
An output Of the metal was reported in
both Maricopa and Yavapai counties in Ari-
IONA in 1913 in the Quartzite district and
in the Mazatzal mountains, respectively De-
velOpment work has been under way at the
latter locality especially, where extensive
surface shOwings have been found and brisk
mining has begun and a four-pipe retort was
in operation on the Sunflower claims at the
close of the year.
In Texas the ChisOs mine at TerIingua,
Brewster county, remained the only pro-
Queer in 1913 as it has been for several
years The combined output of quicksilver
in Arizona Nevada, and Texas for 1913 was
42S5 TASKS valued at $16S,529, against 454O
TASKS valued at $3.50 907, from Nevada and
Texas together in 1912-a decrease Of 255
TASKS and Of S22,37S for 1913.
El Paso herald. (El Paso, Tex.) 1901-1931, 1914-01-14
OIL OUTPUT BREAKS
ALL PAST RECORDS

Washington D. C. Jan. 1.-THE remark
ably great output of petroleum during each
year Of this century was more than main
tanned in 1913 The amount produced in
the past u months exceeded 1000, 600
barrels. or about S2,OOO.OOO metric tons, ac-
cording to the United States geological sur
vey The production in 1912. which made
the record up to that time, was 222,113,21S
barrels. The rate of increase in 1913 was
beginning.
California increased at least 10000, 600
barrels over 1912, almost reaching loo, 0OO,-
900 barrels Oklahoma also showed sig
nlIlcant increase with about percent ad-
dlion to the stocks. Texas and Louisiana
likewise increased their product The out
put Of the gulf field declined, but this was
more than offset by the increase in north
erh Louisiana and Texas. Wyoming showed
significant increase from the Salt Creek
field.
The following is an estimate Of the pro-
El Paso herald. (El Paso, Tex.) 1901-1931, 1914-01-14
RAILROAD PRESIDENT
TURNS MINE MANAGER
A. II. WestfaU Leaves c. I. d L. Rail-
road TO Take Charge Of Kelvin
SuItana Conner Wine.

Phoenix, Ariz.. Jan 14.-Having re-
signed as president of the Chicago, In
dianapolis & Louisville railroad, A H.
Westfsll is to take over the active
management of the Kelvin Sultana
mine, across the CHA river from the
Kelvin depot He has long been presi-
dent of the Kelvin SuItana company
His resignation becomes effective Feb
Tuary Is, and he viii leave Chicago i'm
mediately after that for Kelvin.
Some of the largest mining enter
prises in the United States have drawn
their managing heads from railway
circles, but it Is stated that no mine
has drawn from the railway world so
high an executive as Mr.. Westfall
In the course OF DEVELOPMENT much
rich copper ore has been taken from
the Kelvin Sultama workings Enor-
nous ore bodies are exposed and shin
ments have been made to one of the
Douglas shelters for some months
There are numerous drifts shafts
and crosscuts on the property. which is
well equipped with hosting and drill
ling machinery. A big electric power
plant is situated at Kelvin and now
er IS carried by wire to the works at
the mine. a.
Recently the company was financed
Tor the erection Of a cOncentrator TO
handle the tonnage of ores which are
not quite rich enough to ship.
El Paso herald. (El Paso, Tex.) 1901-1931, 1914-01-14

embracing styles
bTokena splendid
a $I55.
El Paso herald. (El Paso, Tex.) 1901-1931, 1914-01-14
RAILROAD CARS TO
MOVE ORE FROM VEIN

Jerome Ariz., Jan. 13.-In order that ore
can be transported in future by standard
gage railroad cars, the United Verde Copper
company is charging its $500 foot Hope
well tunnel. The tunnel, now seven feet
two inches high by nine feet~VFfGe is to
be made nine feet high and 13 feet wide
This tunnel taps the 1000 foot level and
when the railroad is installed the United
Verde viii be the only mine in Arizona
transporting direct from the shoots to the
smelter 1t is planned to have the rails
laid in the tunnel, and also have the new
railroad from Jerome to Clarkdale COM
pleted in July, when the new smelter will
be blown in
El Paso herald. (El Paso, Tex.) 1901-1931, 1914-01-14
USE NOVEL METHODS
TO WORK PLACERS
Prescott Firm Dynamites Ground, Then
Pumps Water From an Old Drift
to Sluice Boxes

Prescott, Ariz., Jan. 13.-Novel methods
are being employed by the firm of Alex
ander, Smith BlOunt, in working the
placer beds along Lynx creek. four miles
southwest Of Prescott. The ground con
tanning the placer gold Is first loosened with
dynamite. The bedrock lies no deeper than
five feet and there are no large boulders
TO give trouble When the ground is lOos-
ened it is shOveled into sluice boxes SO
feet long Water for the washing process
drift
To Sell Big Property.
Within a few days the property of the
Arizona Copper Gold company, which for
some time has been in legal difficulties will
De sold at trustees sale. The present own
ers viii bid it in and completely reOrganize
the company with ample capital for a long
campaign Of development.
The first car load Of ore shipped by ". A
0lorLz from his Groom creek property to
the Copper Queen smelter, at Douglas, re-
turned S52 a ton, net. As the ore was not
sorted at the mine this return is highly
Good weather Stimulates Shipping.
Favorable weather conditions have stimu-
lated shipping throughout the county. The
stimulation Is especially felt in the Hasa
yampa district A carload from the Snoozer
went to Douglas last week and the Davis
VIII send two carloads to the same place
this week. The Commercial near Jerome
sends a carload Of low grade copper ore
20 the Jerome smelter each day On the
at eI4Se Two carloads a week go from the
Walker district to FL Paso.
Jack Burton is opening some rich silver
ore at an abandoned property on the lower
Hassayampa. His intention is to ship to
the Needles smelter.
Y. P. Receives Machinery.
After being delayed several weeks the (
heavy machinery for the Up. Mining com
pany has arrived in Prescott. 1t is now
pelng 1relghted out TO the Senator mine L /
miles south. Huntington mill. Mcneil /
sinner ana other equipment are included
in the shipment When this machinery is
installed the mill viii have a capacity of
80 tons day. The pipe line of the
~ company has been laid for two-thirds
OF its distance $500 feet
The Mineral Point Mining company has
ooughL Tour claims from Joseph c. Frick- !
IN interest in the company's group, 10 !
miles east Of Jerome Junction.
El Paso herald. (El Paso, Tex.) 1901-1931, 1914-01-14

in new crepes and embroidered
French garments, are shown in a
broad choice of beautiful styles
Slips, Combinations, Drawers, Skirts
and Corset Covers-mOst temptingly
priced!
El Paso herald. (El Paso, Tex.) 1901-1931, 1914-01-14

Total ..........-2 42. 600, 900 222112 21Q
The Electra and other fields in nortber0
Texas continued to increase, and the decii1a
in the gulf region was slight. Much Wild
citing was in progress ~ many points over
development at Moran, in ShackeIfor5
county
El Paso herald. (El Paso, Tex.) 1901-1931, 1914-01-14

One whole counter filed with these
special values, well made, trimmed
with cluster tucks and neat hem
stitching-the pair, I5c.
El Paso herald. (El Paso, Tex.) 1901-1931, 1914-01-14
DIPLOMATS ARE RECEIVED
AT WHITE HOUSE RFCFPTTC

Washington. D. c., Jan. 14.-Diplomats
Of every foreign nation represented in
Washington were received by president and
Mrs. Wilson Tuesday night as guests of
honor at the first official white house re-
ceptlOn Of the administration.
El Paso herald. (El Paso, Tex.) 1901-1931, 1914-01-14

ADV ERTISE the selling points OF your
ITs3I estate eandidly and convincingly.
Of The Herald. ana Won win re8eh
thousands Of prospective buyers,
El Paso herald. (El Paso, Tex.) 1901-1931, 1914-01-14

How about some red renceZ We have
Just unlOaded a car Lander Lumber
observation-disclosures
El Paso herald. (El Paso, Tex.) 1901-1931, 1914-01-14

Washington, d. c., Jan 14-Jose Der
narqlno was today appointed postmaster