davidaulloa/AmericanStories huggingface dataset:
The Butler weekly times. (Butler, Mo.) 1881-1918, 1916-11-02
To Organize an Automobile Club

At the last meeting of the Com
lurrcial Club IL communication
was read from NJ. V. Carroll, see
rotary of the state automobile as
SoriaIion urging that the Bates
county automobile owners organ
iz'- and affiliate with the state or
yanization 4 committees COM
posed of Julius Levy, w. W. Hen
ry and +. {. Rram was appointed
to look INTO the matter. The com
m,ttrr has called meeting to be
held in the circuit court room FRI
day evening. November 3. t.
which every automobile owner in
the county is invited. Mr.. Carroll
will he present and tell what can
BE- accomplished by organizations
Tn" principle ob.irc Of the organ
lat ion is the boosting of the good
roads movement.
The Butler weekly times. (Butler, Mo.) 1881-1918, 1916-11-02
Sunday School Rally.

Sunday was rally day at the NJ:
E. church South, Sunday School.
Almost the entire membership of
the school was present when the
roll was called and a very inter-
csting and instructive program
was rendered. The NJ. E. church
South Sunday school is one Of the
most progressive up to date Or
CARNATIONS of it's kind in the
county.
The Butler weekly times. (Butler, Mo.) 1881-1918, 1916-11-02

he said. Mr.. Henderson also made
inquiry as to the drilling Of the
hiy llrnshaW well near Rinehart
and WAS given some information
on this point. lie was favorably
imprcs>ed,with the situation as he
expressed his intention of making
further investigation of the sub
;rct with Il view of development
on his land in this county.
The Butler weekly times. (Butler, Mo.) 1881-1918, 1916-11-02

Black 1 Arnold Clothing Co.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-05
Money.

Call money was slightly easier, with
renewals at pa
Commercial paper was quiet at 9a
TO per cent.
Following the successive daily de-
clines in the rates for time money this
week there was a still further reduc-
ton to-day to pa per cent in the bid
for sixty days, as against a trading
figure Of 3 per cent on Thursday. The
asking rate is nominally unchanged at
3 per cent The flow Of banking funds
to London continues. Loans in that
market are being made on a call
basis, az bankers here prefer not 70
tie 10 their balances abroad on time,
as they look for higher rates here in
the fall, when demands of the crop
moving season will be felt in the money
market. In Chicago commercial paper
rates are easier at to Az per cent
Bulk Of paper is moving at per cent
Bank deposits are increasing and de-
mand for accommodation is not so
brisk, except on grain paper, which
shows heavy increase, especially at
Kansas City and Duluth. where rate
is Az per cent. The Chicago rate on
grain loans is per cent.
Boston reports that call money 70
brokers holds at per cent. Time
money is practically on 4 per cent
basis for six months on the average
run Of collateral and year money is
AZ TO Az per cent. about equally di-
vided In outside commercial paper
range is 3&4 TO per cent for six
months, with q few sales as low as 81
per cent for November maturities.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-05
An Unheard-of Thing.

The Allies have considered the
measures TO be adopted in order to
save their industries and manufactures
from suffering through the business
methods practised by the Germanic
empires especially dumping. They
have undertaken 10 subject, during q
certain lapse of time, which Is 20 be
fixed among themselves, all goods
originating from enemy countries, 10
certain prohibitions or special regula-
tions. thus enabling them 70 cope in
an eficacious manner with any at
tempts at dumping. The fact that at
the present time Germany is consti-
tuting. upon her own territory, large
supplies of goods. mostly manufact-
ured with raw materials from the in
vaded regions, makes this agreement
all the more necessary. Ii would be
an unheard Of thing for the Ger
manic empires. Immediately after the
war. TO be able TO raise their rate Of
exchange by selling TO the Allies
goods manufactured from raw ma
terials which were their (the Allies
own special property bulletin
Of the Paris Chamber OF Commerce.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-05

Bank Exchanges.-The days clear
ings at New York and other cities:
New York Exchanges, s46l.l4o.o5l;
balances, s7311,25O. Baltimore-Ex-
changes, s7,636,43s; balances. $685.
121. Exchanges, s2s,536,3SS;
balances, s3,511,31O. Chicago-Ex'
changes, SIS, 5,447; balances, $685.
100. st. Louis-Exchanges, 1884,
55s; balances, s2,146,59S.
Sub-Treasury.--New York banks lost
to Sub-Treasury s9s9,ooO and gained
since Friday s1,769.000.
SiIver.-Bars in London, 80 1915
pence. Bars in New York. CAS- cents
Mexican dollars, 49A asa.
Bank of Germany.-The statement OF
the Imperial Bank Of Germany issued
July 81 shows the following changes
Total coin and bullion decreased
779, 900 marks; gold increased $4,000
marks; Treasury notes decreased 1b2,-
900 marks; notes of other banks
decreased 100000 marks; bills dis
counted increased 46o,361, 900 marks;
advances increased $4,000 marks; in
vestments decreased 20,96s, 900 marks;
other securities decreased 90,l55,OoO
marks; notes in circulation increased
1874, 271 900 marks; deposits increased
12,5s6,000 marks; other liabilities in
creased 9s,703,OO0 marks.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-05

The Union Pacific Railway Com
pany yesterday published its report
for the year ended June 80, showing
more than 1914 per cent earned on
the common stock, of which fewer
than 1000 shares were dealt In at
net advance Of u per cent. This
was thought a disappointing re-
Spouse. The income account OF the
Union Pacific, however, is a fair
illustration Of the way in which tan
pible values are being permanently
increased out Of profits. Expendl-
lures for maintenance Of way and
structures were increased 100000
over those Of the preceding year and
charged to operating expenses. EX-
penditures for maintenance OF equip
ment increased 100000, also
charged to operating expenses.
Then out of the surplus remaining
after the regular dividends, $780,
600 was set aside for betterments,
against only $1,O89,45 for the same
purpose out of the undivided profits
of the preceding year. Thus, out
of the earnings of last year, $6,SOO,-
600 more was spent upon the prop
erty for maintenance and better
ments than in the year before. 1t
has been the rule with railroads out
of this years profits to increase ex-
penditures for improvements. That
is one Of the great saving facts. 1t
is a form of insurance against all
tered fortunes. The actual value Of
The Union Pacific property IS in
creased; that its stock market APP
praisal does not rise accordingly IS
of no consequence at all. The GER
titude of s per cent dividends is eX-
tended. The possibility Of an extra
dividend, as compared with that, is
Of minor Importance.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-05
Branch Banking.

An addition to the excellent banking
facilities already existing in Cuba was
afforded by the opening of the West
Indian branch of the National City
Bank of New York. in Havana, in Au-
gust, 1915. The we'll known foreign
trade department of this institution
is doing work Of great value in the
extension of American trade and com
merce in Cuba. It's we'll equipped
Havana Office furnishes monthly re-
ports on current trade conditions and
offers valuable assistance TO American
exporters and snlesmen seeking trade
in this country-Consul Henry NJ.
Wolcott to the Bureau Of Foreign and
Domestic Commerce.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-05
Why Detroit!

Have you noticed how large part me
City Of the Strait is playing in politics these
days! Roosevelt went galloping there 70
rouse the natives when he thought he had .
chance for the Republican nomination. Presi-
dent Wilson selected Detroit for his latest
and perhaps his mos. important address in
relation to Mexico. And now Mr.. Hughes Is
10 open the Republican campaign here'
There must be some significance to all TINS
Maybe It is owing TO the activities OF Henry
Ford. Il was shock 10 all kinds Of poll
,icians when the automobile man carried the
state in the primaries against the machine.
Perhaps there is no city in America where
the grade Of labor is so high. and where
labor has been treated so well. This Is due
largely TO Mr.. Ford. no doubt.-Commsres
and Finance
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-05

tration of the steps that have been
taken by Europe in her career OF
borrowing. They are the inevitable
steps, and correspond exactly to
those which any individual borrower
would have to take. Great Britain
was the worlds greatest banker,
whose credit was thought unlimited.
It had never borrowed abroad. Its
command over the worlds exchanges
was such that at first it could bor-
row without asking; that is to say,
it could draw credit TO itself by auto
matte processes. When it had got
to the end of these resources it eff
fected banking arrangements in Wall
Street, and established credits TO
draw against. It's next step was to
borrow on unsecured two-name
paper. That was the Anglo-French
loan last year. 1t was the first ex-
perience, and a somewhat painful
one. The terms were pretty stiff.
Then France, on its own account,
though by virtue of an understand
ing with England, procured a loan
by giving collateral security. That
is the latest transaction, conducted
through the American Foreign Sc
curities Company, with whom the col
lateral is pawned. England in the
meantime is advancing on the next
step, which in the case of the indi-
vidual would be that of going deep
into the strong box for collateral
which the lender is obliged to take,
both because it is very choice and
because it is stuff that had been
bought from him in the first place.
The English government has "mobi-
lized" an enormous quantity of IDOL
lar securities" which it will pres
emily either sell outright in New
York or pledge as security for an
other loan. This transaction cannot
be long deferred. Soon, also, there
must be another large internal war
loan in England. Two years ago no
one could have imagined England
pledging her American investments
for loan in Wall Street. When she
has done this, and has exhausted
that kind of collateral, what will she
do? The parallel so far between the
career of an individual and that of a
nation is exact. One knows what,
under the circumstances, an indi-
vidual would do after having ex-
hausted his collateral. He would
pay a price for accommodations
deemed by the lender commensurate
with the risk. That might be very
dear price, indeed Meantime, the
cost Of the war, contrary to the opti-
mistic expectations of the British
Chancellor of the Exchequer, instead
of falling has gone on rising. Two
weeks ago he announced in the House
of Commons that it had risen from
S25, 100000 to S3O,OOO,OOO a day, and
he was unprepared to give the rea-
sons.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-05
The Borrowers Career.

Attention is being called to GER
tain theoretical difference between
the new French 5 per cent notes and
the Anglo-French bonds. One issue
is secured by collateral, like Stock
Exchange loan at the bank, which
makes it good whatever happens (as
good as anything can be in these
times), whereas the other is secured
only by the joint general credit of
England and France. The secured
note obviously should be less sensi-
tive to unexpected developments in
the progress of the war than the
credit bonds. IL is a difference for
the present more interesting than i'm
portant, but it may serve as illus
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-05
Socialist Party Said. to
Have Been Converted
to 1t by War.
ANGLO-RUSSIAN
SUBSIDY LIKELY
London Markets Dull-Drain
of Gold Is Dis.
closed.
By FRANCIS W. HlRST.



London. Aug. 4.-The drain OF
gold disclosed by yesterdays bank
return is another indication that
money may rise in value with cor
responding declines in gilt edged Sc
curities. The present tendency may
disappear, but it is equally possible
that it may be accentuated by the
usual autumnal demands acting on a
market heavily laden with treasury
bills.
The Protectionists and their new
Liberal-Imperialist allies are coming
to close quarters with the Free Trad
ers. and Bonar Laws first trial of his
tariff discrimination plan in favor of
The crown colonies suffered severely
under a fire of criticism yesterday
The debate reminds me that when
opposing Chamberlain's tariff re-
form proposals Asquith declared
there were only two policies-Free
Trade and Protection. "All the
rest is fudge" he added.
In official circles there is some talk
of reciprocal free trade with France
after the war. The French Socialist
party is said to have been converted
bv the war to free trade and direct
taxation.
The stock markets are dull and are
not assisted by the heavy tone or
Wall Street. Bankers, of course, do
not like the Anglo-Italian Bank sub
sidy. but | hear a similar one will be
given for the Anglo-Russian COM
bination.
I referred last week to the results
If the war as exhibited in the pub
liz budgets and lists or estimates of
casualties. The difficulty Of plctur-
ing the sums spent is prodigious. A
prominent mathematician at Cam
bridge has made an attempt to con-
yey the meaning to minds which
are unaccustomed to handle millions.
His illustration is as follows "If
Adam were still living and had occu-
pied himself from creation TO the
present time in casting fifty SOW
ereigns into the ocean every hour of
the day and night he would not have
sunk as much money as has been ex-
pended by this country in the present
war"
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-05
Mexican Tax on Metals.

Mexico City, Aug. 4.-Provisional
President Carranza yesterday issued
orders TO the Governors Of all Mexican
states. instructing them to practise
rigid economy and TO keep their ex-
penditures within their incomes. A
decree issued to-day fixes the following
export taxes on metals for August, pay
able in Mexican gold: Silver bars,
1924 per kilogram; silver ore concen-
trates, s4.O6; copper bars, II cents !;
copper ore concentrates. $40 cents /;
lead bars, So cents; lead ores, sl00l9 !;
zinc bars, l u cents; zinc concentrates,
2 cents
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-05
CIVIC TEMPERAMENT.

These differences arise from tenn
permanent. One is tempted to speak
Of city's temperament as if a city
itself were personality, a sentient
thing, and why may one not as well
speak of city in that way, endow-
ing it with an ego, as to talk of a
nations soul? Cities consist in peo-
pie and must reflect their collective
traits. A city is not a person, but
persons are city. Take, for exam
pie, the notable fact that business in
st. Louis is steadier, more conserva-
tive, less liable TO be either suddenly
inflated or Debated, and. in general,
proceeds upon lower hazards than
business, say, in Pittsburgh. The OBJ
yious reflection is that business de-
rives its character from its environ
ment and opportunities. A manu-
featuring community is more likely
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-05
A Shaken Opportunity.

In 1913 there were some twenty automobiles
in and around Port-au-Prinee Most OF these
were Of cheap make and came from the
United States. The bad condition Of many
Of the Port-au-Prince streets and of the
roads contiguous TO the city soon shook the
vehicles loose In every bolt. with no expert
enced mechanics available for making re-
pairs. Al present. outside of the trucks and
automobiles used by the Marine Corps. there
are not over four motor cars in Port-au-
Prince that are running. and one belongs to
the American Minister. Gasoline V 90 cents
q gallon.-Commercs Reports.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-05

ported currency movements TINS "een
indicate gain in cash by the bankso'
around sl7,000,00o. There was a gain
from N. interior OF sio,Oes, 900. ship
mcnts including s2,O6i,oOo national
bank notes sent to Washington for re-
demption and $4,000 transferred
through the Sub-Treasury to New or-
leans. Gold to the amount OF *boo'ooo
was exported to Spain. The banks
gained s2,S19,oOo on Sub-Treasury
operations proper. The Federal Re-
serve Bank had debit balances OF U.s.
s51 900 during the week and credit
balances Of s1l,757,00O.
Official discount rates in each Of the
twelve Federal Reserve districts are:
Maturity in days
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-05

than n merchandising community u
develop an adventurous spirit. One
consumes raw materials which are
very unstable In value, rising and
falling continually, in a way to al
feet profits. Business in that com
munity is obliged TO accept large
risks. Those who succeed must be
willing to take chances. They must
have somewhat of the gambling
spirit. Another community gains
its living not in production but In
distribution. It's business Is that oil
merchandising. 1t buys and sells
There the risks are lower and the
spirit of business will be conserva-
tive. Pittsburgh is a manufacturing
city. st. Louis is a trading city
Wherein they differ is 1t not for
these reasons?
PEOPLE AND MATERIALS.
IL NAV be even as obvious as 1t
seems, and yet, further reflection
brings new questions into view. That
people will be affected tempera-
mentally by the material in which
they work, that is to say, by the ex-
periences Of their daily task, is cas-
ily admitted. 1t is still in some meas
ure true that people choose their
material. It is possible that they
act and react upon each other-the
people upon the material and the
material upon the people. 1t was
never inevitable that st. Louis
should be a trading city. Other cit
les no more favored by accident Of
environment and natural resources
have become manufacturing COM
munities, even where it was neces-
sary TO bring raw materials from
far away places. There is no physi-
cal reason why st. Louis should not
have been a great industrial centre
and at the same time a trading place.
The tendency now, in fact, is to in
crease the activities of production
along with those of distribution.
Missouri's development would
have been much more rapid If she
had out Of her own resources salts
fed more of her own wants, instead
Of exporting raw materials and i'm
porting manufactured goods. In
terms Of transportation it may be
expressed in another way. Missouri
produces more transportation than
she consumes. The outhaul, consist
ing so largely of raw materials, ag-
ricultural, mineral and harvest
products. is heavier than the inhaul,
which consists Of manufactures.
That is why the Missouri Pacific has
so much trouble keeping its cars at
rome. w. W.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-05
Cost of one dollar.
BIG GAIN IN RAILWAY NET
Earnings of Ninety-three Roads In
crease $4,000, 900 in Year.

Washington, Aug. Met revenues
of ninety-three large railroads OF the
United States for the year ended with
June showed an increase over the same
period of 1915 Of almost 100000, 900.
The figures made public to-day b.
the Interstate Commerce Commission
showed operating revenues for 1916 Of
1855, 9O4, 227, an increase of about
s29O,OOO,OOO over the previous year. In
net revenue the Eastern roads showed
an increase of about sl17O00,O00,
Southern roads an increase of about
S3O,OOO,OOO, and Western roads about
S4O.OOO.OOO.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-05

The above rates express the cost Of
foreign money in terms of the Amer
lean dollar. You buy an English pound
sterling for Sab 11-16; the intrinsic
parity is $4.S65s per pound. Thus, you
say either that pounds are at dis
count or that dollars are at premium,
which is owing to the fact that in Eng
land the demand for dollars with which
to settle accounts in this country is
greater than the demand in this coun-
try for pounds with which to settle
accounts in England.
If you calculate the cost Of the dol
lar in terms of foreign money that
is. as if you were buying dollars with
pounds, marks or francs-its value
Yesterday and a year ago would be
about as follows;
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-05

The dufness Of the stock market is
significant. There are materials out
Of which q furious speculation could
be constructed. There are values to
be exploited. A gambling spirit is
abroad in the land. Credit is album
dant. All that is lacking is the ini-
tiative of those who are accustomed
to employ fluid capital actively in
securities. For a programme many
suggestions are offered gratis. There
is not an idle Spectator in Wall
Street who does not know how Steel
common or Union Pacific could be
excitingly and proftably manipu-
lated. The power of banking capital
to produce Stock Exchange phenom-
ena has not diminished. One should
rather say it had increased, for rea-
sons which are fairly obvious.
Control of European war orders,
of foreign exchange and of the in
ternational movement of securities
having become so contemplated as
now is the case in a very few hands,
a very extraordinary power over
stock market fluctuations is implied
and must be supposed to exist in
the same place. That it is not exer-
cised for purposes Of manipulation
is evidence, first, of a considerable
degree of preoccupation in other
directions and, secondly one may
imagine, Of a higher view of the
responsibilities of banking capital
than has always prevailed in Wall
Street.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-05
No Guarantees.

The bankers here feel, and rightly,
that il the European nations interest
ed in China having control over her
finances were to continue IN such
course. there is no guarantee that the
sums that they lend may not become
useless from the point OF view OF the
United States. So long as European
countries have the total Of $4,000, 600
due 10 them from China, and so long
as they could force their own terms
on China. there seems TO be no way OUT
~ Il II the United States bankers
get control OF at least part OF the
sums owing by China to the European
countries, the situation would then De
considerably modified. That means a
large outlay, although, however the
returns from Chinese bonds are ex-
traordinarily good.
To-day China fully needs the slZo'-
oo0, 900 which the fve-power group was
10 have loaned TO her for a second
reorganization loan but for the in
ternal Disturbances in the country and,
later on, the European war. Europe
will no longer be able TO loan that
amount; and Japan has no funds. Only
tn. United States can help. How the
matter can be arranged is a problem
for bankers and statesmen.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-05
The Dollar in Foreign Exchange

Sterling rates were slightly lower at
the outset, but closed without any net
change. Paris checks and cables were
steady.
The closing quotations were as fol-
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-05
ANDREW J. MCCORMACK. Auctionser
REGULAR AUCTION SALE.
STOCKS AND BONDS,
By ADRIAN II. MULLER & son,


REGULAR AUCTION SALE.
STOCKS AND BONDS,
BY ADRIAN II. MULLER son,
OFFICE. so IS WILLIAM ST.
WEDNESDAY. AUGUST o, 1915.
at 1880 o'clock, AZ the
EXCHANGE SALESROOM
NOS "a AND Is NESEY STREET
For Account OF Executors.
20 shs American Telegraphone CO
- shs. Hollis Court Realty Co. pre,d
800 Hollis Court Realty Co. s..
Bonds. July. 1915. coupon on.
% shs New York Teachers P.snia.
ton co. prefd.
20 shs. Sioux City Stock Yards Co
common.
IS shs. United Motors Co pre,d.
z3l pa shs. La Zscusipa-Hidalgo Rub
Der Co.
For Account OF Whom II May Concern
1900 city Of Toronto. Canada, ~
GenL Consld. Loan Debenturss
is4s
shs First Natl Bank, Jersey City
los $40 shs william X. Moore Dry Good,
Co. Memphis. Tenn. subject 70
Voting Trust agreement
yls,o370s par value Voting Trust Cert,s
stock OF william r. Moore Dry
Goods Co. Memphis. Tenn.
$4,000 Newbury Cordsge Co. Is, Mtg
So Bonds.
$50 shs Newbury Cordage Co prs,c
400 shs Newbury Cotdage Co. com