davidaulloa/AmericanStories huggingface dataset:
Middletown transcript., 1916-11-11
BROWNS CHILD AND HERSELF.
Mother Leads Two Little Ones To
River, Pushes Them In.

Gadsden, Ala.-Mrs. Charles Carter,
of Wharton's Bend, led her S-year-old
daughter and her 5-year-old son to the
banks of the Coosa river, threw the
children into the water and then
jumped in herself. The boy saved
himself, but the girl and her mother
were drowned.
Middletown transcript., 1916-11-11
UNITED STATES
WARNED MEXICO
To Permit No U-Boat Base on
the Gulf Coast.
is RESENTED BY CARRANzA
Answer To Threat Of "Drastic Meas
ures" Apparently Admits Charges
and Tells British Government
To Act For Itself.

Mexico City.-The Mexican Govern
ment has been notified by the British
Ambassador at Washington of the
presence of German submarines in the
Gulf Of Mexico, and has been warned
that the allies will take drastic meas
ures" if the undersea craft receive aid
from Mexican ports or sources.
This information was made public
by Foreign Minister Aguilar, who is
sued the text of a note received from
the British Ambassador through
United States Secretary Of State
Lansing and Charge d'Affaires Charles
B. Parker
Rebukes Great Britain.
The British note demands a strict
censorship of the Mexican wireless,
and says that any failure to maintain
Mexican neutrality will be attended by
disastrous results. In his reply, ad-
dressed to Mr.. Parker, Senor Aguilar
says that it seems strange to the Mexi-
can Government that Great Britain
should use the United States State De-
partment as an intermediary on a
point concerning Mexico alone,
especially when Great Britain has an
accredited representative to Mexico.
The reply says that the Mexican
Government will, for this time only
answer the representations Of the
British Government through Mr..
Parker.
Tells British To Act.
Foreign Minister Aguilar states
that the Mexican Government feels it
unjust for the allies to hold Mexico
responsible for submarine activities in
the Gulf when the same submarines
arrived in American ports and sank
ships in American territorial waters
without causing conflicts or difficulties
between Germany and the United
States. He adds that Mexico desires
to retain cordial relations with Great
Britain and to this end suggests that
the English feet prevent the German
submarines from leaving their base
thus obviating to the Mexican Gov
ernment disagreeable incidents caused
by the European conflict.
If such measures by England are not
eficacious, the Foreign Minister con-
cludes, the Mexican Government will
take such measures as the circum-
stances direct should German sub
marines enter Mexican waters.
Middletown transcript., 1916-11-11
GERMANS RAID CHANNEL.
Take Two Suspicious Vessels Into
Port; Third Still Out.

Berlin.-A raid was made by Ger
man naval small craft on the shipping
route between the mouth of the
Thames and Holland on Wednesday
night, the Admiralty announced. Sew
eral steamers were stopped and
searched and two of them deemed sus-
picious were brought into a German
port.
Middletown transcript., 1916-11-11
ARTIST KILLED BY AUTO.

William Gedney Bunce Run Down At
Hartford, Conn.
Hartford, Conn.-William Gedney
Bunce, famous in art circles through
out the world as painter of Venetian
marine scenes, died in a hospital here
as the result of injuries received when
he was struck by an automobile driven
by John c. Nichols, of this city. Mr..
Bunce was born here 76 years ago.
Middletown transcript., 1916-11-11
BANK RoBBER RETURNS So.
Money Taken At Point Of Gun Sent
Back After Three Days.

Scranton, Pa.-From a man signing
himself ''Would-be Bank Robber," the
Pine Brook Bank received a letter with
S. inclosed. On Monday a young man
entered the bank, pointed a revolver
at George Browning. teller. and de-
manded SIS. Browning handed out the,
money and the robber escaped.
Middletown transcript., 1916-11-11

The last Is children born ii chsnt
Neck, w. va, were girls.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-11-24
Money an Credit

The tone Of the whole money market
continued distinctly firm yesterday.
Call money at the New York Stock Tx
change ruled at per cent, compared
with the day before. Some loans
were placed as high as AZ per cent,
which was the days closing rate. More
calling OF loans was reported.
In the market for time funds on
brokers' Stock Exchange collateral the
range averaged about one-quarter OF
per cent higher Most Of the business
was done in loans based on industrial
collateral. As high as per cent was
paid for ninety day maturities Of this
character Whilc there was not a great
deal of activity in the market for mixed
collateral loans these rates were also
marked up fractionally. The general
frmness Of funds in this market con-
trasts with a tendency toward lower
rates in London, and the difference be-
tween the level Of the two markets is
now small In fact. it IS so small as
TO make it Improbable for banks on
this side TO transfer balances to Lon
don as has been done on a large scale
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-11-24
British Bills
in Unlimited
Amount 7ToBe
Offered Here
l. en- ding Am erican
Credit in This Form
to Begin About
December |

The first direct offering OF British
Treasury bills in this market since the
war began will be made about Deem
Der 1. bankers said yesterday. Final
arrangements for the offering are be-
ing completed The proceeds Of this
new form Of financing will go toward
paying for the huge British war pur-
chases here.
The issue will be similar to the
Treasury bills brought out In England
They will constitute an unsecured note
obligation of the British government;
in other words. the British will be SELL
ing their 81. o. US" here. The bills
will be subject to renewal.
No definite amount has been fixed
for the initial Offering. Bankers said
yesterday that as many bills would be
offered as the market would take. Es-
Inmates Of how much this would be
ranged from $500, 100000 up to $1,000
100000.
The bills will be issued in maturities
Of thirty days, ninety days and up to
six months, and it is expected that the
great bulk of them will be purchased
by banks and corporations rather than
with individual investors.
1t IS understood that the bills will
be sold over the counter In much the
same manner as they are brought out
in London. The rate Of interest will
vary from time to time as new issues
are brought out, according to the fue-
tuations in the New York money mar
ket. At the present time one Of the
factors making for higher money rate,
in the local market is said TO be the
unwillingness Of a number OF banks to
make time loans for the longer ma
TURTLES because they expect 20 find
more profitable employment for their
surplus funds In the impending Issue
Of British Treasury bills.
INQUIRIES from Interior Banks
ne QomdHu lOI INC WIS AIVin Oahhs
In the interior is expected to be large,
q. many correspondents OF New York
institutions have made inquiry here as
to the deslrability Of the investment
and the probable date Of the initial Of
fering.
Incidental to the impending Offering
bankers confirmed reports yesterday Of
the beginning Of another influx OF gold
from Canada II was said that a con-
siderable amount had already been
shipped from Ottawa and would arrive
here within the next day or two. This
is taken to mean that the British bank
ers are DESTROYS Of maintaining the
New York money market in a state Of
comparative ease 10 facilitate the sale
Of the Treasury bills. The gold reserve
at Ottawa has been lately replenished
by heavy arrivals Of gold from London.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-11-24
SUBSCRIBERS CAUGHT
SHORT OF CHALMERS
A Two.Edged Lesson In the
Practice of Finance

Early this month q syndicate con-
sisting OF J. S. Bacho & Co. and c. ID.
Barney e. Co. offered for public sub
,eription 264,O0O shares Of the Chai-
mers Motor Corporation at s3o
share. the stock to be allotted at a
later date.
A large number Of subscribers hav-
ing put their names down for the
stock, went out and sold it on the
curb market to be delivered when Is
sued" Yesterday the syndicate made
known that 1t had decided not to make
allotments at this time.
This left all who had sold their
shares on the Curb short Of the stock,
with mono obtainable with which to
make deliveries. Thereupon the syn
dictate announced:
The Chalmers stock can be freely traded
IN on the Curb. and will be listed as
promptly a, possible Tho market is from
35 to 371.
Stock may be borrowed freely by thoo
who have sold stock in anticipation Of
allotments and against old stock Of the
Detroit company.
The Chalmers Company Is enjoying ex'
ceptionsl prosperity It's dividends will be
paid in January and its accumulation Of
surplus for the last year will be consid-
cradle and should show constant increase.
The predicament of the Chalmers
subscribers will doubtless be a two
edged lesson to all subscribers in new
issues.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-11-24

merchandise. 1t Is approximately
two and a half times the excess Of
exports in the twelve months to the
end Of October, 1915. Obviously, it
cannot 20 on increasing at this rate,
even allowing for the fact that the
increase in the actual quantity Of
goods exported is not so great as the
increase Of money value, owing to
the rise In prices. That the present
rate should be again increased two
and one-half times in another twelve
months is unimaginable. That would
put our excess of exports on the
plane Of S1O,OOO,OOO,OOO a year,
which would be either impossible in
terms of quantity or fantastic In
terms Of price.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-11-24

OF some goods there is actual
scarcity. OF other goods there is
only the idea of scarcity. Of still
other goods there are both the fact
of actual or relative scarcity and
the idea of further scarcity. And
there is an increasing amount OF
both credit and money with which
TO buy goods. Hence the rise in
prices. The most difficult thing to
deal with is the idea Of scarcity.
The fact Of relative scarcity power
fully suggests the idea of further
scarcity, which, by causing the own
ers of goods to withhold them from
sale, increases the seeming Of scar
city. which increases the idea Of II,
and so on and on, without end. 1.-THE
Iron Age" says Of the excited pig
iron market that buyers are moved
more by the fear Of scarcity than by
the difficulty of supplying immediate
demands. Thus, they buy ahead, or
contract to do so, often, of course,
knowing that in the event Of their
fear failing TO be realized the con-
tracts may be cancelled.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-11-24
FRANCE BACKS
DYE INDUSTRY
Government Will Give
Factories to Help in At
ter-War Competition
BY YVES GUY0T.
tBy Cable 10 ms Tribune ]

Paris, Nov. 23.-The government
at last has taken up practically the
question of German competition in
dyestuffs. A company for the man.
ufacture of dyestuffs and chemicals
has been formed, and the govern
ment has promised to put at its dis
posal after the war various factories
now used for munition manufacture
ing. The company has a capital of
100000 francs, Of which half al
ready has been subscribed by the
founders.
Announcement Of the forming Of
the new company Immediately start
ed speculation in advance Of the
issue Of stock, and the bylaws had
to be amended prohibiting issues to
bearer Of stock, with the result that
all advance speculation was annulled
and the issue was also delayed ten
days, as under the new rules all sub
scribers have to sign papers saying
they agree TO the new bylaw.
The Chamber has decided to in
crease the stamp tax on checks and
receipts to 10 confines and to tax
theatrical productions other than
spectacles.
1t is figured the tax on war profits
in Paris will produce 2O0,0O0,00O
francs, which means throughout the
country a total Of a round half
billion.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-11-24
BONDS OF BRAZILIAN
CITY OFFERED HERE

The first offering of South American
municipal bonds in this country is an
nounced to-day in an issue of $500, 900
City Of Sac Paulo per cent external
gold bonds. The American offering
houses include William Morris Imbrie
&, Co., f. Fl. Rollins e. Co., the Equitable
Trust Company and Spencer Trask g.
Co. The offering price is a per cent
basis for the first maturity to 6ls
per cent yield for the later ones. Sac
Paulo is ranked as tho first city in
commercial Importance Of the Brazilian
states.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-11-24

Over-speculation Is term for
which there is no exact definition.
Instances Of preposterous specula-
ton are multiplying, and as to these
all disinterested persons might
agree; but as TO whether specula-
ton in the market as a whole had
been excessive or dangerous, opin-
ions would differ. So long as people
are able to keep up large margins
with their brokers, and so long as
the banks have unemployed balances
TO lend on Stock Exchange collateral
al low rates of interest, it IS difficult
to prove that the stock market,
though it may be very high, is IN
parlous condition technically-that
Is, by reason Of the state within.
ANY market, whether over-bought or
not, is liable to shocks from without.
The outside public, especially the
Western public, is heavily interested
in stocks on margin. Wall Street
commonly is distrustful of the mar
ket when that is the case. 1t is
obliged TO believe that its own wis
dom in selling was greater than that
of the outside public in buying. Pro-
fessional spectators have been sell
ing stocks for a fall, so that there
now exists a very considerable short
interest.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-11-24
Thursday, November 2', 1916

Wall Street is filed with a sense
Of vague uneasiness. 1t is ner-
vous fit. People 60 about compar-
ing their tremors. What If this or
that should happen? Why are the
Washington houses selling stocks!
What is the truth about the state
Of German-American relations? Sup
pose a feet of U-boats should come?
Why all this talk of peace? Have
we any friends left in the world?
The simple rule Of speculation Is:
When in goosefesh sell some stocks.
Hence the weakness Of the stock
market. Brokers and bankers,
say the Dow-Jones bulletins, "are CO.
operating to check misrepresentation"
To this was added that brokers were
asking for larger margins, and find
ing. in many instances, that the
margins asked for were already up.
These are psychic phases. The &C
companying words and gestures are
unimportant. Underlying all thought
in the financial world is a kind Of
reckless opportunism. Nobody can
tell what will come after this. In
every speculative purchase Of stock
there is an element of gamble on the
duration and outcome Of the war,
besides the risk Of sudden and wholly
unexpected developments. 1t is nat
ural that fits Of foreboding should
be frequent and acute.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-11-24
U. s. Treasury Finances

Washington. Nov. 23y-The condition OF
the United States Treasury at the close Of
business to-day was: Net balance in general
fund, st2s.s31,2e3: total ordinary receipts.
S2.7s6.e4s; total ordinary payments. $780,
eos The deficit this fiscal year Is sioi.23e.-
sos, against deficit OF s47,317,s7s last year,
exclusive of Panama Canal and public debt
transactions
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-11-24

The above rates express the cost Of
foreign money in terms OF the Ameri-
can dollar. You buy an English pound
sterling for s4.75Fs; the intrinsic par
ity is s4.s6hs per pound. Thus, you
say either that pounds are at dis
count or that dollars are at pre-
MUM. which is owing to the fact tha.
in England the demand for dollars
with which 10 settle accounts in thB
country is greater than the demand in
this country for pounds with which 20
settle accounts A. England
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-11-24
Holland to Issue
-Four Per Cent Loan

London, Nov 23.-H Holland will short
ly issue a loan Of 125,000,OO0 guilders,
according 10 a dispatch to Reuters
from The Hague. The loan will be is
sued at 81. bearing interest at 4 per
cent
Berlin, Nov. % (by wireless to Say
ville).-Deposits in the savings banks
Of Vienna now amount to 100,000,000
kroner more than on the corresponding
date of last year, says the Overseas
News Agency. Deposits in other banks.
it is added. are 6OO0O0,OO0 kroner
more than last year.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-11-24

Sub Treasury. - New York banks
gained from the Sub-Treasury So
$4,000.
Slver-Bsrs in London, 35ii pence;
New York, 1913 cents; Mexican dollars,
56H.
Boston Money Market.-Practcally
all Of the Boston national banks have
marked up brokers' call loans following
the firmer tone in the New York mar
ket.
Transfer to San Francisco.-The Sub
Treasury transferred 100000 TO San
Francisco yesterday for account Of
LEGAL banks. That amount of gold will
be shipped to Japan.
Bank Of acknowledgement de-
crease for the week In gold coin and
bullion holdings of 1888. Proportion
Of reserve to liabilities is now 1855
per cent, against 22.54 last week. Other
changes reported for the present week
80 IL
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-11-24
The Dollar In Foreign Exchange

Strength OF Russian bills was the
principal feature OF dull foreign
remittance market yesterday. Rubles,
which closed on Wednesday at 30.40
cents, left of at 1910 cents yesterday
after touching 1890. Italian lire were
under pressure. Swiss francs we're
somewhat easier at 5.1Sia for checks.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-11-24
Relevant
Information

American Writing Paper.-The pre-
ferred stock, which has advanced
sharply of late, reacted 3ls points yes
terday TO close of IS after selling as
high as 67ss. There is S12,500,000 Of 7
per cent cumulative preferred out
standing and s9,500,O0O Of common. No
dividends have been paid on either
class of stock since 1918, when 1 per
cent was paid on the preferred. Back
dividends on the preferred exceed 100
per cent. Over a period of ten years
the company has shown average annual
earnings on the preferred of only 1.02
per cent. The intangible element Of
good will, trade marks, etc." is CAPT
tailed at s1S,OO0,O00. Most Of the COM
pany's properties are located in New
England.
Southern Pacific.-Shsres of the
Southern Pacific Company made no re-
Spouse yesterday to the extremely
favorable operating statement for
October. The stock closed a fraction
down at 99%. The road gained $685.
100 in gross earnings last month.
Freight revenues were S1,845,927 ahead
Of year ago, while passenger earnings
showed a decrease for the month of
S2s6,466. Gross earnings for the four
months of the new fiscal year ended
October 81 were s6,713,032 greater than
the same period OF the record breaking
year preceding. Southern Pacific earn
ings are now running at an annual rate
of approximately II per cent on the
S272,677, 400 common stock, against
1923 per cent actually earned in the
fiscal year Of 1914-15.
Distribution of Profits.--A number OF
industrial corporations voted dividend
increases or extras yesterday. The
American international Corporation,
organized year ago with capital Of
100000 primarily for the advance
ment Of the interests of American over
sea trade, declared an initial dividend
Of 10 cents share on the s49,000,o00
common outstanding. The Lackawanna
Steel Company, which only recently
placed It's sS5,ooo,00o common on an
annual dividend basis Of 8 per cent, de-
clared an extra Of per cent. The
Calumet and Arizona Company de-
clared 81 extra In addition to the regu-
lar quarterly disbursement Of 81. The
Childs Company, engaged In the res
taurant business, announced an extra
of Y Of per cent on the common be-
sides the regular dividends.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-11-24
WEALTH MARKETS AND COMMERCE l

recently. Should the London rates 60
much lower, while the market here
maintains its present level. substan-
tial withdrawal Of American banking
funds from the other side would Ike
ly follow.
Ruling rates on money yesterday
compared with year ago, were a:
follows:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-11-24

Preliminary statistics from the
Department Of Commerce on our for
eign trade for the month Of October
show:
Exports Of American merchandise
$3.50, 500, 900
Imports Of foreign merchandise
l7s,i0O,oO
Balance TO be settled by gold, Sc
curities or promissory notes
S3l4.20O, coo
During the same month the net
receipts Of foreign gold, to be con-
sidered as payment on account, were
S90,500,000. The balance after that
was 1923, 100000, representing mer-
chandise delivered 10 foreign coun-
tries in exchange for securities Of
market value and the promissory
notes Of our war customers. This
foreign trade of October shows a
nominal decrease Of exports and n
nominal increase of imports over
those for the month of September;
but as compared with the exports OF
October, 1915, those of last October
show an increase of 46 per cent,
and over the exports Of October,
1914, the gain is $50 per cent. If
we take September and October to-
gether, the excess of merchandise
exports was S675,OOO.O0O, which is at
the rate Of S4,OO0,OO0,OOO year.
That would be perhaps 10 per cent
Of the t2ial production Of American
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-11-24

Bank Acceptances. - The tendency
hero is toward frmness. Bills nom
eligible for discount at the Federal Re-
serve Bank are quoted u higher at 3
per cent to 81 per cent. Member bank
eligible bills arc quoted unchanged ct
2ss per cent to pa per cent
Commercial Paper.-There Is q limit
ed amount Of paper moving, and ga
per cent Is now the minimum for the
best regular maturties.
Official rates Of discount at each OF
.he twelve Federal districts arc as fol-
lowCi
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-11-24

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. [volume] (New York [N.Y.]) 1866-1924, 1916-11-24
CHINESE LOAN THREE
TINES OVERSUBSCRIBED'
Chicago Banker Says Money Is
for Industrial Uses Only

Applications for the new Republic of
China loan 100000 in 6 per cent
three-year treasury notes have been
made In an amount three times in ex-
cess Of the total available, according
to an announcement made yesterday
on behalf of Chandler e. Co., Inc, of
New York and Philadelphia, and the
Continental and Commercial Trust and
Savings Bank, Of Chicago, as syndicate
managers.
The public sale of the securities has
been closed, it was stated.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-11-24

Chicago, Nov. 23.-Commenting to-
day on the report that British, French
Russian and Japanese bankers in China
had protested to the Minister of Finance
against the 100000 loan made to the
Chinese government by the Continental
and Commercial Trust and Savings
Bank, Of Chicago, John Jay Abbott,
vics-presIdent Of the bank, said: "The
loan made to the Republic of China
was solely for commercial and indus
trial purposes. We believe the protest
filed By foreign bankers was In order
TO prevent loans being made to China
for political purposes. The Chinese
government has contracted with this
bank that the proceeds of this loan
shall be applied by it for industrial
purposes, including the internal devel-
opment of China, the strengthening Of
the reserves of the Bank of China and
the Bank of Communications both of
which are official banks, and for other
similar purposes.
"The Chinese government has fur
Their covenanted, without qualification,
that the issuance ard sale Of these
notes is not in violation of any treaty,
convention, obligation or agreement
of any kind whatsoever"
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-11-24

Bank OF France.-The Bank Of
France, in its weekly statement, reports
the following changes for the week:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-11-24
Finance Economics

GARET GARRETT Editor
WALL STREET OFFICE; Telephone;
Mills Building is Broad ST. Hanover e'lA
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-11-24

The detailed statement compares as
follows with the same week last year: