davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1916-11-22
1916 YIELD OF THE
WORLDS WHEAT FIELDS
Total Estimated Production 72.4
Per Cent of 1915 Crop

Ottawa, Ontario, Nov. PA govern
ment cablegram received to-day from
the international Institute of Agri-
culture gives the following official esti-
mates of wheat crop production:
England and Wales, 55,543, 900 bush
els, 81 per cent of last years crop and
e9.6 per cent Of the average of the five
years 1909-13; Italy, 176,533,0 900 bush
els, 1885 per cent of last year and SO
per cent Of the fve-year average.
Total production Of Spain, England,
Wales, Ireland, Norway, Netherlands,
Rumania. ussia-in-Europe, Switzer.
land, Canada, the United States, India
Japan, Egypt and Tunis, 1929, $4,000
bushels, or TIA per cent of the produc-
tion OF the same countries last year
and 92.6 per cent of their five-year
average.
New-York tribune., 1916-11-22


Berlin, November 2f.
The principal recent event in Ger
many is the announcement Of civil
dienstpficht, meaning compulsion
for any male person between sixteen
and seventeen, or between fifty-five
and sixty. to work for the military
supply. The bill has yet to pass the
Reichstag. That body will doubtless
accept it without much difficulty or
debate, as the Socialists especially
favor the idea.
The government hopes that the
mere enactment of the law will bring
forward without direct compulslon
all the men now unemployed and
those working in unnecessary trades.
No pressure upon wages is intended.
The decision TO adopt this plan was
strongly influenced by the English
law of July, 1915, relating to num-
tons workers. The law will be ad-
ministered very Systematically.
The competency Of the War Office
is, indeed, remarkable. Its work
now includes jurisdiction over all
war orders, the supervision Of all
war industry, control Of labor ques-
tons, authority to give and receive
technical ideas and responsibility for
feeding the army and the munitions
workers. Chief of the War Office
(Kriegsamt) is General Groener,
late chief Of the military railroad
system. He is a young man and ex-
ceedingly popular. His technical ex-
perience was gained as one of the
Krupp managers.
No extension of civil compulsion to
women is Immediately contemplated.
Moral pressure will be exercised,
however, to bring them into the SER
vice of the country.
The press publishes a letter writ
ten two months ago by General Hin
denburg 10 the Chancellor, which
meets with very general approval.
General Hindenburg finds that farm
ers withhold their produce, and this
diminishes the power of the muni-
tions workers. He proposes that
more power and independence shall
be conferred upon the lower officials
of the government.
Mine owners intend to raise coal
prices two or three marks. German
output of coal in 1916 has been only
one-quarter to one-half normal.
New-York tribune., 1916-11-22

People have recently been in the
way of saying that gold is at dis
count in Scandinavia, without being
able TO explain or even to understand
how such a thing may be expressed.
II cannot be expressed directly, be-
cause as gold is the stuff in which
everything else is priced variations
Of value must be expressed in the
price Of those other things. The
case is discussed in a simple manner
by J. +. Rovensky, vice-president Of
the National Bank of Commerce:
The Scandinavian countries, being
surrounded by countries at war, were
rapidly being drained Of all their
commodities, and in rethrn received
large amount Of gold. The effect
was the expansion Of credits and ad-
vance Of the price Of commodities.
To check both movements the gov
crnments have practically demoni-
t.zed gold by relieving the govern
ment banks Of the duty of receiving
gold and issuing currency there
against. The practical effect OF this
measure is that il is impossible TO
ship gold 70 these countries. or
course, II one is so minded. he may
ship gold 70. say Sweden, but after
he gets IL there he cannot convert
II into ueney> ?. thS Bank Of Sweden
New-York tribune., 1916-11-22
Distribution Of Profits.-The Allan

Distribution Of Profits.-The Allan
tic Coast Line Railroad directors yes
tcrday placed SCI ,55s,000 of common
stock outstanding on an annual divi-
dend basis OF per cent by the decla-
ration OF semi-snnual disbursement
of 3i2 per cent. The dividend was re-
duced from 7 to per cent in 1915.
Earnings in the first three months of
the new fiscal year, July, August and
September. were at an annual rate of
1928 per cent on the common stock.
against 11.39 per cent actually earned
in i915-16. The Central Leather Com
pany announced an extra dividend of
. per cent on the s39.70l, ,030 common
stock. This makes the total amount
paid OF the common in the current
calendar year per cent, the same as
the preferred dividend. Earnings of
Central Leather in the first nine months
Of 1916 we're at an annual rate OF 1891
per cent on the common issue, com
pared with 1882 per cent actually
earned in 1915.
New-York tribune., 1916-11-22
lrrnn rhn Tnhun. Bureau J

Washington, Nov. 2l.-By arrange,
ment between the imperial and colonial
governments the colony OF Hong kong
is now placing loan of $4,000, 900 Hong
Kong currency, or substantially ST.
100000 gold, the proceeds Of which are
to be turned over to the imperial gov
ernment for war purposes, according TO
advices received in Washington to-day;
The loan is a part of the general
scheme to equalize war burdens in the
various parts of the British Empire
and represents the colony's share OF
future Indebtedness growing out Of the
war. corresponding to the war contribu-
ton of 90 per cent of the gross revenues
of the colony which the colony has been
contributing to the imperial govern
ment each year for the last sixteen
years.
The present loan Is offered at s per
cent, the duration TO run from five to
twelve years, at the option Of the gov.
eminent Doubtless it will be followed
by other similar loans.
New-York tribune., 1916-11-22
More Gold TO Argentina The steam

More Gold TO Argentina. The steam
ship Claire, of the Philadelphia South
American Line, which cleared from
Philadelphia for Buenos Ayres yester-
day, carried s2,35O,0OO in gold shipped
by the Girard National Bank OF Phila-
delphia for the account OF New York
banks. This shipment marked the first
ever made from Philadelphia 70 Ar
gentina, and was arranged because in
surance brokers in New York refused
70 take further risks on ships already
bearing large consignments of gold
from this port. The majority of the
local insurance brokers will not take
risks on more than s250,000 gold 20
each ship. This has necessitated ship
ping bv boats from other Atlantic
ports. The present insurance rate on
gold 10 South America ranges from
thrce-quarters of per cent TO l per
cent. compared with rate before the
war of one-quarter Of per cent.
Argentina is drawing on Holland rs
we'll as the United States for gold. A
Dutch vessel recently arrived at
Buenos Ayres with a cargo of $780,
600 In gold.
New-York tribune., 1916-11-22
LONDON TURNING
TOU.S.FOR PEACE
Feeling Grows That Wash
ington Holds the
Only Cards
By FRANCIS w. HIRST
IBy Cable 20 Tho Tribune

London, Nov. 21.-The stock mar
kets were rather dismal to-day. The
news was not bright enough to dis
pei the effects of the miserable
weather conditions-snow, sleet, rain
and fog.
In some political circles the feeling
seems to grow that the only peace
cards are held at Washington. This
is probably connected with the sud-
den appearance Of American peace
views in London newspapers. Purely
military considerations, looking to a
purely military decision, certainly
point to a long continuance of the
struggle, with varying fortunes in
the East and a gradual forward
Allied movement in the West. Mean
while there is the relentless onward
march of scarcity and famine, whose
political operations may overturn any
government, for an empty stomach
cannot be argued with.
The food difficulties Of the Central
Empires are due to real shortage,
thoe Of Russia mainly to defective
organizations and inadequate rail-
road transportation. Our own high
food prices and those of France and
Italy represent the world scarcity
plus freightage, while high potato
prices are caused by short home
crops. Damp weather, however, has
favored turnips and carrots.
doubt if eggs ever were so dear
before. They now cost fourpence
each. Before the war immense guam
titles of eggs were imported from
Russia through Riga.
Lloyd Georges name still is freely
mentioned as food dictator, but some.
how we do not expect very drastic
measures. This country dislikes red
tape, and its experience with govern
ment management Of sugar is dis
couraging. Something might be done
to restrain overfeeding in the swell.
restaurants.
New-York tribune., 1916-11-22
Money and Credit

Call money at the New York STOCK
Exchange continued firm yesterday
The ruling rate was 2% per cent, COM
pared with PA the day before; the
high, 8 per cent, compared with ga.
Some banks have been calling loans
Other lending institutions have taken
cognizance of the situation created by
the abnormal speculative movement IN
securities by calling on brokers for IN
creased collateral margin. The demand
has come particularly from the larger
banks, and it is estimated that the ad-
ditional margin has averaged about
per cent. Brokers are in turn making
larger margin demands from their Gus
toners.
The market for time funds on
brokers' collateral holds firm. There is
no great increase in activity, but lend
ing banks are curtailing offerings.
Business is confined largely to indus
trial collateral loans, with the bid rate
on four, FIVE and six months maturi-
ties at 3A per cent. Mixed funds are
steady.
Ruling rates on money yesterday,
compared with a year ago, we're as
follows:
Yesterday. Year ago.
Call money. y... 2S4Vo 70
New-York tribune., 1916-11-22

The possibility of a reduction OF
the Bank of England's discount rate
to 5 per cent is discussed by "The
Statist." It's opinion is that Great
Britain's position as borrower IN
the United States has been greatly
strengthened by the fact that she is
in a position to threaten to pay US
in gold-which we do not want and
have already more than we know
what to do with-unless we lend
credit on reasonable terms. 1t says:
In the United States there is
growing desire that the Allies should
make payments for goods received
and services rendered through the
credit operations rather than in addi-
tional gold shipments. Not only has
the latest British loan in America
for s60,000,000 been a huge success,
but already American bankers them
selves are suggesting that there
should be no need in the next opera
ton for the deposit of any collateral.
In other words, the United States,
affected on the one hand by fears Of
imitation arising from the receipt OF
overmuch gold and on the other hand
by fears that orders from the Allies
NAV slacken. is anxious TO meet the
situation in every possible way.
One may doubt whether it was
from the American bankers that eve
suggestion was made to follow col
lateral loans with unsecured British
loans in this country. Neither is 1t
probable that the idea occurred to
both sides at once as a kind of joint
inspiration. There has been a lot
Of trading, undoubtedly, in the i'm
ronderables. The British have not
said that they could not find more
collateral. They would not have
said it even if it were true. But
they have said that they could pay
in gold until we were drowned in it.
If we have said, But this is our
credit we lend and our goods that
we SELL" the British undoubtedly
have said, "All very well, yet what
will happen to your prosperity if
your war trade stops?" At the root
of our idea of the necessity Of Civ
ing our war customers unlimited
credit on their own terms is the fear
of what will happen when the war
trade stops.
New-York tribune., 1916-11-22

The above rates express the cost OF
foreign money in terms Of the Ameri-
can dollar. You buy an English pound
sterling for s4.75ts; the intrinsic par
ity is s4s69s per pound. Thus, you
say either that pounds are at dis
count or that dollars are at a pre-
MUM, which is owing to the fact that
in England the demand for dollars
with which TO settle accounts in this
country is greater than the demand in
this country for pounds with which to
settle accounts in England.
New-York tribune., 1916-11-22
Tuesday, Norember 81, 1916

The voluntary increase OF wages
by a long list of corporations, the
most notable addition of the last
twenty-four hours being the United
States Steel Corporation, is impor-
tant and interesting, but very easily
misconstrued. Some will say it Is
proof of awakening socialness on
the part of corporations. Those who
are congenitally prejudiced against
the word socialness will discourse
upon the sense Of fairness inherent
in the modern corporation. 1t is
moved by the rise in the cost OF
living 10 increase the wages Of ITS
employees. Others, being born anti
corporation, will treat it skeptlcally
or denounce it as a subtle conspiracy
TO disarm the protagonst OF organ
lied labor. That was labor's first
reaction to the Ford idea of paying
a minimum wage of s5 day in
non-union shop. But the raising OF
wages voluntarily by corporations
TO their unorganized employees is
merely good business. 1t reflects
credit upon their intelligence, and
has nothing to do with their sentl-
ments. A corporation unable IN
these times to increase the money
wages of its employees in order TO
keep their real wages from falling,
in consequence of the rise in the
price of all things for which money
is exchanged, would be self-convict-
ed Of incompetency. And one that
should be unwilling out Of its own
enlarged profits to restore the pur-
chasing power of its employees to
what it was before the rise in prices
took place would be too unintelli-
gent to survive. Besides, it would
lose its most efficient labor
New-York tribune., 1916-11-22
Car Shortage Hearing

Louisville, Nov. 2l.-Notice was
served upon the Louisville & Nashville
Railroad to-day by Commissioner c. C.
McChord. of the Interstate Commerce
Commission. at the car shortage hear
ings in progress here, that its embar-
goes upon the movement of coal in its
own cars to points beyond its rails
must be Immediately raised. Counsel
for the Louisville & Nashville an
nounced that the road would comply
with the Commissioner order.
New-York tribune., 1916-11-22
CHICAGO BANKS LOAN
APPROVED IN CHINA
Colony of Hong Kong Arranges
to Borrow SI,500,000 for
Great Britain

Peking, Nov, 2I.-..The lower house OF
Parliament unanimously approved oil
the loan from Chicago bank on the
security Of the wine and tobacco tax.
The loan is TO run three years, at D
per cent, and the selling price is to be
97. The Senate, which will soon vote on
the loan, is reported 10 favor IL.
The Chinese government is Juoilant
over the prospect of strengthening the
banks and relieving the financial strin-
gency.
New-York tribune., 1916-11-22
WEALTH MARKETS AND COMMERCE

foreign remittance market yesterday.
A. 6sx cents. marks were near their
low record level. Swiss checks moved
forward to SIT, compared with par Of
5.1sH. Drafts on London and Paris
were steady. Russian rubles dropped
a small fraction to 1925 cents. There
was no change in Argentine pesos.
New-York tribune., 1916-11-22
National City Company Elects New

Officers. William l.. Mckee. formerly
assistant cashier of the National City
Bank, was elected vice-president of the
National City Company at a meeting of
the directors yesterday. Mortimer II.
Bradley, formerly assistant secretary
and assistant treasurer of the company,
was elected treasurer.
New-York tribune., 1916-11-22
New York

New Importers Bank Director. l. +.
Stone, president of the National Ami
line and Chemical Company, of this
city, was yesterday elected a director
of the Importers and Traders National
Bank of New York.
New-York tribune., 1916-11-22
BRITAIN PROHIBITS
IMPORTS OF JEWELRY
London, November II

The importation Of jewelry and all
manufactures Of gold and silver other
than watches and watch cases is now
prohibited except under license.-Ca-
blegram from American Viee-Consul.
New-York tribune., 1916-11-22

Below is given the current exchange
value of foreign money in dollars and
cents, together with the intrinsic gold
parity, as calculated by the United
States Mint:
New-York tribune., 1916-11-22
New York Shipbuilding Company.

a special meeting in Camden, n. j., on
November q to approve sale of the
property to the American international
Corporation.
New-York tribune., 1916-11-22
Commercial Paper.-A firmer feelin

Commercial Paper.-A firmer feeling
is noticeable in commercial paper This,
however, is rather reflected in the di-
minution of interest on the part of
buyers than in any actual reduction Of
rates. The best six months paper can
still be placed at 3l2 per cent.
OScial rates of discount at each o.
;he twelve Federal districts are as fol-
loWs:
New-York tribune., 1916-11-22

Expectation OF all conserves and live
animals from Sweden has been prohib-
tied.
New-York tribune., 1916-11-22
News Digest
Foreign

London Markets.-London, Nov. II
Money was in increased demand and
discount rates were quiet to-day.
The stock market was irregular. Gilt.
edged securities sagged from lack OF
support. and the chief business was In
the specialties. Iron, steel and copper
shares we're strong and active on op-
timistic American trade advices. The
best prices were not maintained, owing
10 profit taking. Rubber stocks nm,
ished firm. American secuitiers closed
higher. There was moderate activity
in United States Steel and Missouri,
Kansas & Texas.
Money, 424 per cent; discount rates,
short and three-month bills. 5l2d 5Ss
per cent; gold premiums at Lisbon,
1900
Paris Bourse.-Paris, Nov. 2i.-Trad
ing was quiet on the Bourse to-day.
Three per cent rentes, 81 francs lO
centmes for cash. exchange on Lon
don, 81 francs S1l2 centimes; D per
cent loan, 81 francs 70 centimes.
New-York tribune., 1916-11-22
The Dollar in Foreign Exchange


Weakness OF German marks and
strength @. swiss francs featured the
New-York tribune., 1916-11-22
Other Cities
by Federal Reserve

Recommendations by Federal Reserve
Council. - Washington, Nov. 2l.-The
Federal Reserve Board and the Federal
Advisory Council agreed at joint con-
ference to-day that there were no un-
avoidable dangers in the continued eX-
traordinary inflow of European gold in
settlement of trade balances, but that
proper methods must be employed to
control the gold supply and to prevent
undue expansion. Close 10 S3OO.O0O,OOO
is represented in the net inward move
ment of gold this year, without any in
dication of diminishing or reversal
of this movement.
The conference closed the quarterly
meeting of the advisory council, COM
posed of prominent bankers represent
ing the various Federal Reserve dis
tricts. The councils recommendations
to the board included renewal Of the
proposition to authorize national banks
in Federal Reserve and Central Re
serve cities 10 establish branches with
in those cities; encouragement of trans
fer TO the Federal Reserve banks of the
money in the vaults of member banks;
greater caution as TO protracted renewal
credits. and reduction of excess re-
serves By beginning by the end of this
winter to count the balances held by
reserve agents not as reserve but as
bank balances.
New-York tribune., 1916-11-22

Silver.-Bars in London. 34h pence;
New York, 72iz cents; Mexican dollars,
555s.
New-York tribune., 1916-11-22

Sub -Tre$ury. - New York banks
gained from the Sub-Treasury 1924
600.
New-York tribune., 1916-11-22
Long and Short Haul Hearings On

Long and Short Haul Hearings On
Chicago, Nov. 2l.-Defence of low long
haul freight rates TO Pacific Coast
points without proportionate reduction
of intermediate rates was offered by
representatives of transcontnental rail-
roads before representatives of the In
terstate Commerce Commission here
to-day.
The case. which has been at issue for
twelve years, involves controversies be-
Continued on page 13. column I
New-York tribune., 1916-11-22
Relevant
Information
California Petroleum. Shares o

California Petroleum. Shares OF
this company were somewhat more sc-
tive than usual yesterday. The com
mon touched 25& on dealings Of $500
shares and closed unchanged at "a. The
preferred gained rs points at 537s,
with high Of SO. Dividends are being
paid on the sl2,343,026 Of per cent
cumulative preferred at the rate Of
per cent year. On July last accumu-
lated dividends on this issue amounted
to 3A per cent. The s14,S77,005 Of
common pays nothing. The company
was organized in September, 1912, as a
holding company, acquiring the capital
stocks of the American Petroleum
Company, American Oilfelds Company
and Petroleum Midway Company. The
properties are located in Southern
California. The corporation started
out in 1918 with earnings of 3.94 per
cent OH the common. In 1914 444 per
cent was earned. In 1915 earnings
dropped to 1.65 per cent. Net income
for the eight months of 1916 ended
in August amounted TO SS42,374,
against $3.50 in 1915.
New-York tribune., 1916-11-22

Bethlehem Steel.-New high record
earnings are being established by the
Bethlehem Steel Corporation. Dow,
Jones & Co. are authority for the
statement that net profits in October
ran close to S7,000000, or at the rate
of sS4 100000 year. They say:
This is At the rate Of $3.50 a share on the
common stock. Including all deductions. it
is safe 10 say that Bethlehem's earnings
are running at the rate OF at least 5000
"A share. For the current year Bethlehem
Steel Corporation will show between soo.-
600 000 and $50. 000. 600 available for the
common stock. If Bethlehem earns $500 a
share on It's common next year. IL will
have earned 81 .0l5 share in three years.
or S3l3 above the present selling price Of
500. With earnings already made. Beth
lcham common docs not appear 10 be sell
ing too high at 500. With, say, $500 a
share in prospect for 1917. a price of 500
seems low. Schwab will spend large
. amount Of money for new construction
within the next two or three years. Presi-
dent Grace gives the amount as $50, ,000.
GOO. II earnings are over $1,000 a share
for the years 1915. 1916 and 1917. there
would remain a surplus after construction
charges of approximately 800. .00O. 600.
equal % s666 share on the common, or
vithlp s34 share Of the present market
valuSof 500. Orders on the books OF the
bethlehem corporation indicate record
breaking earnings for next year.
New-York tribune., 1916-11-22

Continued on page i3. column l
New-York tribune., 1916-11-22
'i5- day paper.
bank Exchanges. The days clear

ines at New York and other cities:
New-York tribune., 1916-11-22
COMPULSION OF
GERMAN LABOR
Men Only To Be Drafted
by Law, Women by
Moral Pressure
BY ERNST KAHN

wireless via sayvlile to The Tribune)
Berlin. November 21.
New-York tribune., 1916-11-22

Call money. ....
r. -.
East Oregonian : E.O. (Pendleton, OR) 1888-current, 1916-08-07
Pardon Sought for
Man Convicted in
La Grande Court
RI. CLARK TOOK BLAME FOX
BAD CHECKS PASSED BY HIS
WIFE.

PORTLAND. ore. Aug Port
land people and the people Of oregon
generally will be asked 70 back
movement 10 secure executive Glenn
ency for T.. ]. clark. spokane painter
who was brought back 20 oregon
Thursday to serve out a penitentiary
term begun IN 1913.
Governor Wlthycombe will be ap-
pealed 70 for pardon for CLARK be-
cause he went 10 prison to shield his
wife and because since his escape
from salem In February Of 1913 he
has led a model life.
Mrs. Clark foolishly passed some
bad checks az la Grande and Clark
took the blame lie was sentenced
20 serve from one 10 five year, but
by faahionlng key out OF a spoor
he unlocked a window and walked
out into the open.
While IN the penitentiary baDl
was born and Clark made his way
hack 10 his wife and child Thel
lived Ia Washington for q time, ther
went 20 Florida. ana returned lateI
Ia spokane. since his escape he ha
leB M honest and INDUSTRIOUS life an'
tb, money secured from II Grand'