davidaulloa/AmericanStories huggingface dataset:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-11-01
S25,0o0,0O0 GOLD
RAISED IN FRANCE
New Loan Closes, Results
To Be Known This
Week
Bv YVES GUY0T

Paris. Oct. 31.-The new French
lean closed yesterday, but the def
mite results will not be known be-
fore the end of the week. | have
nothing to add to the indications
given in my last dispatch.
The Bank of France has received
more than 1O0,0OO,O00 francs in
gold in connection with this loan,
and since the beginning of the
war more than 1,850,000,OOO
francs. The Senate has approved
the bill passed regarding the price
of eggs, while the Chamber has
passed the bill offering a premium
Of 62 cents per quintal for wheat
harvested in 1917, and a premium
Of So for every additional hectare
put under wheat cultivation during
the next year. This will put farm
ers in a quandary as in order to
collect premiums they will have to
LET the proprietors know the exact
amount of the wheat crop.
Government monopolization of
what were formerly private enter
prises is spreading rapidly. We al
ready have monopolies of indus
trials, alcohol and grain importa-
ton, and now there is talk of a
petrol monopoly.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-11-01
RUSH TO EXCHANGE
OLD DIMES FOR NEW
Issue Goes TO Premium as Sub.
Treasury Gives Out Coins

The first of the newly designed dimes
made their appearance in Wall Street
yesterday. Within three hours the sup
ply of $4,000 at the Sub Treasury had
been exhausted. The demand, however,
continued undated, and the coins went
to premium on the Pine Street curb,
where spectators offered them at ~
cents and sold many.
While the supply lasted a stranger
in the financial district might have
thought run on the Sub-Treasury was
in progress. Lines OF small boys and
adults waiting TO exchange old dimes
for new extended out Of the building
into Pine Street
Demand for the new currency was
stimulated by rumor that the issue
would be withdrawn by Treasury Off
Gals at Washington because the mono
gram of Adolph A. Weinman, the de-
signer, was prominent on the face of
the coin. Wesley S. Twiddie, chief clerk,
who handled the distribution, doubted
the report and stated that he did not
consider IL likely that the government
would try 70 recall the issue. The Lin
coin penny in the first minting carried
the initials Of V. d. B., which were
stricken from the later issues.
The new coin is the same size and
weight of the old and bears on its OBJ
verse side winged head Of Liberty,
with the familiar cap. and the motto
I'm God We Trust" at the left Of the
base. On the right hand side is the
date 1915" and the monogram "A. W"
The word Liberty" surrounds the
head. The reverse shows the Roman
faces twined with an olive branch. with
the motto "E pluribus unum." Around
the edge is United States of America
Ono Dime"
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-11-01
Frisco Receivership Ends

st. Louis, Oct. Shortages for
s4OO 100000 were filed by the st. Louis
san Francisco Railroad Company to-
day at Clayton, Mo-, seat of st. Louis
County.
One mortgage Of s25o,o0o,ooO is q
prior lien in favor of the Central Trust
Company of New York and Daniel K.
Cattlin, of st. Louis, trustee. An ad-
justment mortgage of s75,OOo,OOO is in
favor of the Bankers Trust Company
and Edward +. Swinney, trustees. and
an income mortgage of S75,000,000 is in
favor of the Union Trust Company OF
New York and Jay Herndon Smith,
trustees.
The mortgages were given as the
final step in the Frisco reorganization.
The receivership ended tonight, and
beginning Wednesday morning the re-
organized company will operate the
properties.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-11-01
PERE MARQUETTE NEEDS
SI6,OOO.OO0 NEW MONEY
Reorganization Plan Approved
bv Protective Committees

A plan of reorganization Of the Pere
Marquette Railroad, approved by the
three protective committees, provides
for the sale of the property under fore
closure. The new company will have
nm authorized issue of s75,O00,000 first
mortgage bonds, 81, 100000 per cent
cumulative prior preference stock, sl2,-
$4,000 ) per cent preferred stock,
cumulative after January l, 1919, and
S45.O46,OOO common stock.
All three classes Of stock will be
held for five years by voting trust
consisting of James S. Alexander,
Francis R. Hart, Frederick Strauss,
Eugene V. r. Thayer, Robert Winsor
and Beekman Winthrop.
The estimated cash requirements un-
der the plan are SIG ,OO0,O 900, to provide
for which a syndicate consisting of j.
& W. Seligman G. Co., Robert Winthrop
& Co., and Kidder. Peabody & Co. will
purchase 100000 first mortgage per
cent bonds, s11,2OO,OO0 prior prefer
ence stock trust certificates and $685.
SIS. 400 common stock trust certificates.
For these securities the syndicate
will pay SIG 1000 900 and accrued inter
est and will receive commission OF
5 per cent on the obligation. The
Guaranty Trust Company will form a
loan syndicate to advance to the pur-
chasing syndicate funds up to so per
cent of the par amount OF the prior
preference stock and common stock not
subscribed for by security holders.
j. & W. Seligman & Co., Robert
Winthrop & Co. and Eugene V. R.
Thayer, as reorganization managers,
will receive as compensation for their
work three-quarters Of l per cent on
the aggregate principal amount of the
new bonds TO be issued and one-half
Of I per cent upon the aggregate par
value of the three classes of new stock.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-11-01
Money and Credit

Money on call at the New York Stock
Exchange was slightly hrmer yesterday,
with ruling rate Of 2h per cent, com
pared with q. the day before.
Conditions in the market for time
funds on brokers' Stock Exchange col
lateral are practically the same as they
have been for the last week. The tone
continues easy and trading is dull.
Rates for industrial money are SiA per
cent for sixty days, ga 10 go per cent
for ninety days, four. five and six
months. Mixed money is quoted 3 per
cent for sixty days, 81 per cent for
ninety days and four months, 81 to
3is per cent for five and six months.
Ruling rates on money yesterday.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-11-01

There is an idea that the election
ought to be a stock market factor.
An election always was. But there
is almost no evidence of people hav-
ing been moved by the political con-
test or by any forecast Of the re-
suit either to buy or sell securities.
Among professional traders who
act on impulse and afterward in
vent reasons for what they have
done there has been much talk Of
politics having caused prices to rise
and fall, but there is perhaps not
one who would know how in the
stock market TO put down a bet"
on either Hughes or Wilson. That
IS to say, it is improbable that stocks
have been bought for rise on the
election Of one or sold for a fall on
the election of the other. Specula-
ton has been governed by other
considerations. Latterly it has been
governed largely by the feeling OF
what Wall Street calls the technical
condition of the stock market. II
a market has been over-bought by
weak spectators it is said TO be
technically weak, and then big pro
fessional operators are continually
locking for a pretext on which to at
tack it. The sinking Of the Marina,
in which there is at least the sug-
eestion of renewal of the sub
marine difficulty between the United
States and Germany, would nave
been pretext enough for attacking a
market that had become technically
weak. Therefore, what is described
Is the stock markets indifference to
this event has been TO spectators
significant fact, of more account and
susceptible of more profitable devel-
opment than any political fact they
know Of.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-11-01
German Potash Shipments

Berlin, Oct. 81 (by wireless to Say
Vile, n. Y.).-At a meeting Of the
stockholders of the Potash Syndicate
President Kempner stated that the
shipments of prussate of potash dur
ing the first nine months Of 1916 sur
passed by 100000 tons, or 100000 900
marks, those OF the preceding year.
The total shipments for this year are
calculyated to reach 100000 tons, with
a valuation of 16O,O0O.OO0 marks.
Shipments in 1918, which included
great amounts for expectation, totalled
100000 tons. During the first nine
months Of this year German farmers
were provided with 100000 tons Of
kainite hardbalt and $4,000 tons Of
potash fertilizing salts.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-11-01

For ten days or fortnight Wall
Street has been pessimistic about
the earnings of the United States
Steel Corporation for the September
quarter. They were published after
the close of the market, and turned
out to be sS5,S17,167. After sink
ing funds, interest charges and pre-
ferred dividends, the remainder OF
profit is at the rate Of 90 per cent
a wear on the common shares. Fancy
its being possible to say that
showing of such profits was disap-
pointment to spectators or fell be-
lew their wistful expectations! I'M
agine, if you can, what process OF
thought leads one to buy stock at
100 on the expectation that a quar-
ter's earnings will be at the rate OF
90 per cent a year, and then to sell
il at 1T on the discovery that they
will be only 80 per cent! An extra
dividend of l per cent was declared
cut of the quarters profits. That is
s5.625.OOO in money. The differ
ence between the high and low
prices for Steel common during the
DAYS trading was s2.25 per share,
which on 100000 shares is SILL
100000.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-11-01
Imports of South America

The share which the United States Is
now supplying of the imports of South
America is more than double that be-
fore the war, o. P. Austin, statistician'
stated in an address on South America
delivered last evening at Public School
Building 1872. Our exports to South
America, he said, are increasing much
moro rapidly than the total imports OF
that continent They have increased
from Is per cent in 1918, the year pre-
ceding the war, to about S3 per cent at
the present time. South American
countries are likely to import $6OO,ooo'-
600 worth of goods in 1916, $3.50, 10000
Of which will have been purchased in
this country.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-11-01
Finance Economics
Tuesday, october 81, 1916

Speaking Of bread lines, in this
the richest and most splendidly iso-
lated slice Of the whole world, there
IS no excuse for them in war time,
peace time, after time or any time,
tariff high or tariff low, save one
and that is unintelligence. We wait
10 find out what is happening as
fast as it happens and then deal
with the facts as they arise" as II
that we're the only thing we could
do. For the rest consult the an
nails of Shadow Lawn.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-11-01

The odds on Mr.. Hughes recov-
cred. and there was reported from
the floor of the Stock Exchange "a
better feeling about the election,
but it is doubtful if these matters
had as much to do with the strength
of the stock market wherein it was
strong or the weakness of it where
in it was weak as the clairvoyant
bulletins issued half-hourly on the
earnings of the United States Steel
Corporation for the September
quarter, which were to be published
after 8 o'clock, and it is doubtful II.
they had any influence whatever
upon the sum Of speculative con-
duct.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-11-01
Releva ant
Information

American Writing Paper.-The pre-
ferred rose 2 points. to 49A. yesterday
on turnover of $4,000 shares. There
Is 12,500,000 Of 7 per cent cumulative
preferred outstanding and listed on the
exchange. The s9,5O00OO of common
is unlisted. The company has 103 per
cent in back dividends on the preferred.
The last disbursement made was 1 per
cent. in 1913. and the highest rate ever
paid in any one year since organiza-
tion was per cent. In the best fiscal
year the company ever had il was not
able to produce quite per cent on
its preferred. Lately. however. the de-
mand for paper and the consequent
rise in prices have helped this concern
in common with the other paper pro-
ducing companies. II was stated in
August that earnings had been accumu-
lated sufficiently to improve the fnan-
cisl position Of the company and help
TO solve the problem OF meeting the
maturity of the s12.s26,000 Of first
mortgage 5s in 1919. A bondholders'
protective committee was appointed In
1915 and there is also a stockholders
committee.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-11-01
Other Cities

Cotton Mills TO Disregard Clayton
Act.-Fall River, Mass, Oct. 3l.-Al-
though the Clayton act forbidding in
terlocklng directories went into effect
October |, cotton mill interests here
and in New Bedford have virtually de-
cided TO proceed for the present in
disregard Of that section of the law, il
was learned to-day. This action has
been determined upon, il is said, pend
ing some move by the Federal govern
ment that will serve as a test case and
result in a definite Interpretation of
the laws application. As result OF
the adoption of this attitude. such mill
corporations as have held annual meet
ings since the Clayton law took effect
have chosen directors regardless of the
provision against interlocking boards.
The Clayton law does not provide any
penalty in event of its violation. As
understood here. but specifies certain
procedures by which interlocking direc-
tors may be removed, and if these di-
rectors are reinstated they then become
liable 10 punishment BY the courts.
Shreveport Rate Case" Rates Ef-
fective.-W Washington, Oct. 3l.-The So
called Shreveport case, involving a pro-
posed general increase in freight rates,
effective November /, between intra-
state Texas points on practically all
commodities, was passed upon to-day
by the Interstate Commerce Commits
sion Proposed increases on Ignite,
cattle, stock cattle, cord wood and tan
bark in carload lots were suspended
until March next. and all other rates
involved i'm the tariff become effective
at midnight tonight.
The commission issued an order for
oral arguments in this city on Deem
Der 8 10 develop whether the whole
case should be reopened, and. II so, for
what purposes and 20 what extent. and,
il reopened, what further parties, II
any, should be permitted TO intervene.
Hepburn on Great Northern Board.
st. Paul, Oct. 3i.-A Barton Hep
burn, chairman OF the Chase NationAl
Bank of New York, was elected a mem
Der of the board of directors OF the
Great Northern Railroad at meeting
r~-Sx~~sA A u~wa "a nolunA 4
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-11-01

Canada produces annually about 81
100000 worth of maple products. OF
the total yield during the five years
1eO8-12 the United States took SO per
cent Of the sugar and 90 per cent OF the
syrup. In that period the aggregate
export was S,6s5,OOO pounds Of sugar
and 10000 gallons Of syrup. with the
province Of Quebec the chief producer.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-11-01
News Digest
Foreign

London Markets.-London, Oct 81
Money was in moderate demand and
easily supplied to-day. Discount rates
were quiet.
The stock market displayed a good
tone on the RumAnian news. There was
fair amount of activity despite the
holiday tomorrow Consols and the
war loan were features in the British
section, and now that the French loan
is out of the way foreign issues were
in good demand, with japanese bonds
the firmest. Diamond shares were sup
ported, but shipping stocks were irreg-
ular American securities were quietly
steady early, but the closing was below
the best.
Money, per cent: discount rates,
short and three months bills, 5h45%
per cent; gold premiums at Lisbon, SO.
London Wool AuctiOn.-London, Oct
3l.-The 1900 bales offered at the wool
sales to-day were mostly crossbreds,
which were readily absorbed at full
prices. A few Victorian secured meri-
nos sold at IS lid.
Paris BOurse.-Paris, Oct. 3l.-Trad-
ing was quiet on the Bourse to-day.
Three per cent rentes, 81 francs 10 cen
times for cash; exchange on London, 81
francs 8l1s confines; per cent loan,
80 francs.
The Bourse will be closed tomorrow
and Thursday.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-11-01
The Dollar in Foreign Exchange

The decline in Italian exchange car
ried further yesterday. Pronounced
weakness of lire is attributed by brok-
ers to increased purchases in this mar
ket of late by the Italian government
Russian rubles are also declining, and
yesterday went to $3.50, compared with
81 en- Monday. Vienna exchange was
also under pressure and dropped TO a
new low.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-11-01
compared with q year ago, were as fol-

Commercial Paper.-Sales continue
light in volume, principally owing to
the small supply of offerings. Rates
are unchanged at 3i1 TO 324 per cent
for prime regular maturities. Now and
then there is sale Of particularly at
tractive names at 3I4 per cent to an
institution which desires it for some
special reason.
Official rates Of discount at each OF
the twelve Federal districts are as fol-
lows:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-11-01

The above rates express the cost OF
foreign money in terms Of the Ameri-
can dollar. You buy an English pound
sterling for s475ii; the intrinsic par
ity is t4.s6ss 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 that
in England the demand for dollars
with which TO settle account. in this
country is greater than the demand In
this country for pounds with which to
settle accounts In England.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-11-01
RUSSIA AUTHORIZES
3 BILLION RUBLE LOAN

London, Oct. 3l.-A Russian imperial
ukase authorizes the Issue Of short
term loan of 5000 100000 rubles, says
a Reuter- dispatch from Petrograd. The
loan will be at the rate Of 81 per cent,
repayable In ten years.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-11-01
New York

Irving National Bank.-Howard s.
Mott has been elected a vice president.
He will act as consultant on invest
ment matters TO the banks city Gus
toners and out-of-town correspond
ents. .Hrte - -
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-11-01
Money In Observation-Disclosures. =

Money In Observation-Disclosures rates
in Venezuela arc declining, according
to the American consular office at La
Guayra. On October 1 the Bank Of
Venezuela announced that in the future
the rate on thirty. sixty and ninety day
secured commercial paper would be
per cent year. The banks rate was
reduced from ~ per cent TO Q per cent
in 1912.
That money is comparatively easy
in Venezuela is indicated by the pre-
vailing rate of exchange. The actual
par of the American dollar in VEN
ezuelan currency is SIS bolivars; by
local law the gold dollar is worth $50
bolivars, and at the present moment
actual gold coin is worth a premium of
one-half of per cent, or 5.226 bolivars,
for the dollar, but the banks selling
rate for sight drafts on New York is
only SIG.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-11-01
Distribution Of Profits.-A nu

Distribution Of Profits.-A number
of important industrial corporations
declared extra dividends yesterday. The
United States Steel Corporation led
the list with an extra Of per cent on
the s5Os,3O2. 900 common. The O'Ban-
non Corporation. manufacturers OF ar
tificial leather. announced an extra of
S25 a share. in addition to the regular
quarterly disbursement An extra of
u of l per cent was declared by the
United States Steamship COMPANY
while the Champion Copper Company
will pay a dividend of $40 a share on
November Is.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-11-01

Sub-Treasury. - New York banks
gained from the Sub-Treasury ST.
$4,000.
Silver.-Bars In London, 321l pence;
New York, 6S1s cents; Mexican dollars,
52h0561z.
Gold TO Spain.-Coin to the amount
Of 100000 was withdrawn yesterday
from the Sub-Tressury for shipment to
Spain.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-11-01

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, 1916-11-01

II is officially estimated that the area
sown in Argentina for the next harvest
is l6.os2, 900 acres of wheat, 3,206 900
acres Of fax and 2,52i,o0O acres Of oats.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-11-01

Gold from Canada.-Another $4,000
600 consignment Of British gold ar
rived from Ottawa yesterday. making
S9O,OOO,OO0 so far this month and s475.-
100000 since the first Of the year. The
metal was deposited to the account Of
the New York Federal Reserve Bank.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-11-01

Cosden & Co.-Stockholders have
subscribed for practically the entire
S5,753,OOO Of ten-year per cent con-
vertible first mortgage bonds recently
offered to them at 80 and accrued
interest.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-11-01

Pennsylvania Railroad. Total oper-
ating revenues for the month of Sep
TENDER were s39,1l3,OS5, an increase
of $685. $50. Operating expenses
amounted TO s2S,326,s32. or s4,326,4 65
higher than year ago, which brought
about a decline in operating income,
amounting to $1O.7S6,253, of s434,7S5.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-11-01
Maturity in days.
ID day paper.

Bank Exchanges.-The days clear
ings at New York and other cities:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-11-01
Brass Company Changes Hands.

Brass Company Changes Hands,
John Z. Liggett, of Liggett- Hichborn
& Co., New York and Boston; Russell
A. Cowles, vice-president of the Buff
falo Brass and Rolling Mills; A. j.
Skinner, of Springfield, Mass; George
K. Walker, New York. and +. B. Schoe-
maker, of Bridgeport. Conn, have ac-
quired. through purchase, the control
of the Connecticut Brass Corporation,
located at Cheshire. Conn. Boughton
e. Co., of this city are bankers for the
transaction.
Rising Coal Prices the
coal market situation, "The Coal Trade
Journal says: "In the anthracite trade
buyers are seeking the sellers with
greater earnestness as cold weather
draws nearer. This is resulting in a
series of price advances the ike Of
which has seldom, if ever, been equalled
even in strike years. Within the last
few days sales of domestic sizes have
been made at sl1 per ton T. o. b. New
York harbor ports. which is equivalent
to $3.50 at the mines. During the past
week bituminous prices have leaped
upward in a manner that makes pre-
vious runaway markets and the earlier
stages of the present movement seem
tame and orderly by comparison"
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-11-01
Hepburn on Great Northern Board.

Continued On page IA column .
The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-05-07

glad the lights are so nice and dim.
When The villain tries to cut IN IN
the hero and pursues the beautiful
maiden, scornful though she he, Mr..
Sewiywed gives a whispered reminder
OF the low down fellow back home
who tried to blight his 'ifc's happiness
and suggests that the two hlishters
are not unlike.
When ia" N.llalness gets IN her
worst work and tries by wilos. lies and
drCe!. - divert the love Of IN. leading
man hcrsc.f Mrs Ncwlywed re-
calls a certain urdZen huZz, N the
home town who used tine same meth
obs 10 n tie only man IN the
world. but failed. Goody coody.
sat IN front ~ a pair ~ the .tyriI
edition Of honey moCners AZ a cur
rent musical comedy tn" other eve
nlng 1t Nts difficult to decide which
show vts the %funnicr. the n back 81
me or tho one n front 81 me.
Isn't that ii pretty sir. honey. the
second from, the left IN the front row.
lsp"d ne bride. The chorus CIR. l.
whom 81" referred vas a plump lite
creature with long black hrp:ds tran.
ing over her Shoulders aGi The merit
est ewes that ever twinkled down "A
front row.
40. ! can't say she IL" responded