davidaulloa/AmericanStories huggingface dataset:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-26
AMERICAN FOREIGN
TRADE IN JULY
Balance in Our Favor S263,00o''
600. 70 Months, S2,273, 000,00O

The Bureau Of Foreign and pom"
tic Commerce reports that the e@
ance in our favor Ia foreign trade da'
ing July was s2eS, 900 and for ~
year s2,273 100000.
A year ago the export balance W.
s125 .OOO, 900 for July and 81 ,220, oVV'~
for the twelve month.
The month showed a cont'nush''
Of the net inward gold movement ~
July gold imports aggregated SOW"
600, as against gold exports OF ss'VVS'
600. Last year July showed gold ~
ports of sl7,000,000 and exports
$4,000 900. while two years ago '''
gold imports were but sS,OOo'VOV'
against gold exports Of s33,OOo'OOV' =,
net inward gold movement TOT
twelve months TO August l, 1910
gregated s441, 100000. as against ','
100000 in the preceding year. sno
net outward gold movement OF '"
600 900 in a like period two years -
The foreign trade for the year %.
ed with July last also marks . y
high record. being S6,74s,oOo, GOO. e.<
pared with $3.50, 100000 in 1918
twelve months imports aggrepsM
80 2s7 900 900, against N,SSs'o~S
last year, and exports s4,Sll'OV",
compsr.d with s2,ss3 100000 last ys'r
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-26
GOLD DEMONETIZED
IN DANISH KINGDOM
War Measure Designed to Make
Belligerents Pay In Goods.

The wants Of Denmark are no longer
credits or money, but merchandise. To
stimulate commerce and increase trade
the National Bank is temporarily re-
lieved from its obligation to purchase
gold bars and foreign coin at the
fixed rate per ounce as existing In all
the gold-stands.d nations Of the world
This move is q novelty in financial
circles, but II is hoped tina. IL vii
compel debtor nations to send gooc'
instead Of gold to pay for Danish nsr-
chandise and bring about normal ntss
Of exchange. The kingdom Is eIpsn-
menting with this new idea, following
in the footsteps Of the other Seandi'
navian countries. II is q return
barter and sale" The law releasing
the National Bank Of Denmark from
its obligation to purchase gold ba"
and foreign coin at q fixed price, says
Consul General Winslow at Copen'
hagen. ais only temporary and -
war measure"
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-26

ANDREW J. MCCORMACK. Auc,ionssr.
REGULAR AUCTION SALE,
STOCKS AND BONDS,
By'ADRIAN II. MULLER A son,
OFFICE. NO IS WILLIAM ST,
WEDNESDAY,, AUGUST 30. 1914
AT 1880 o'clock. az the
EXCHANGE SALESROOM.
NOS. - AND Is VESEY STREET.
For Account OF Trustees
1000 shs Horn Silver Mining co.
shs. Niagara Fire Insurance Co
105 shs. n Y. Bowery Fire Insurance CO.
II shs. Emerald & Hiddenite Mining Co.
For Account OF Whom u May Concern.
$4,000 Bondholders Protective Comm. Ia
the Reorganization OF the Denver
Reservoir & Irrigation Co. So Coll
Trust Notes.
$4,000 Missouri, oklahoma q Gulf ny. LIST
Mtg. So BIDS. l94s
IS shs. Bank Of Franklin. Asidylla
Miss
200 shs La lara Gold Mines Co
700 shs. Atlantic Macaroni Co.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-26
FRANCES DEBT
CAUSES NO FEAR
Holds Bonds to Cover
S4,OOO,OOO,OOO She Will
Owe Abroad.
BY YVES GUYOT.
u. minr,tr Of Public wsrt,. EdItsr "t'Ass"es
Eeenomlaus Of Finanel@s."

fBy Cable TO The Tribunel
Paris, Aug. 25.-Our imports be-
ing still much greater than the ex-
ports, it is suggested that the pur-
chases of the British army in France
are partly responsible. The uni
forms, armament, grain and meat
all come from Great Britain, and
only certain accessories are pur-
chased in France. However, this
must amount to a considerable fig
ure. which accounts for a fraction
of the difference between imports
and exports. Because of this pre-
ponderance Of imports, France Will
probably owe abroad at the end OF
the war s4,oO0,OOO,OoO.
The repeated question as to how
We will pay is easily answered
when it Is considered that France
possesses twice the amount likely to
be due in foreign bonds.
Our market continues satisfac-
tory, with preparations for after
war conditions in all branches Of
commerce and industry.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-26
REMINGTON ARMS co.
NAY GET NEW MONEY
Bankers Considering Plan to
Provide Additional Work.
Ing Capital.

The Wall Street financial interests
who provided capital for the Remington
rms-Union Metallic Cartridge Com
pany early In the year. BY the
sale Of SIS, 900 900 Of notes. are having
an audit Of the company's books made
with the idea Of readjusting its
finances and supplying additional
working capital II tho report justifies
such action.
Tho company Is now in q position
where Il has plenty OF business but
is with inadequate working capital TO
handle K, declared a banker yesterday
who has taken m active part In the
plan, to enable the management to so
on with the big war contracts still on
the books. 1t was admitted that i'm
portant cancellations OF orders have
taken place. These orders, II carried
ont. would have been extremely profit
able. One OF these was for s25,Ooo,ooo'
Numerous reflections have also oc-
Cured.
In addition to cancellation OF orders
that could not be billed In time and
r.;ection of finished goods the concern
has experienced serious difficulty IN
housing its employees. Immediately
after the present Remington-u. Nj. u
corporation was formed, taking over
the Remington Arms Company and the
Union Metallic Cartridge Company,
work was started on the erection OF
additional buildings half way between
Brid0eport. Conn. and Stratford. These
were to cost S1s,000,ooo. The original
plans of the company called for week
" output of $4,000 rifles and the en-
pIovment of $4,000 men. The first
completed rifles were turned out IN
the latter part Of March, but over
81 .OO0. 900 worth Of these are said 10
have been rejected by the Russian ana
English inspectors, as the different
parts were not accurate and inter-
cbangeable, as called for by the spec
ifications. 1t was not until April 10 that
the first consignment of 1900 was
passed and shipped to Russia by way
of San Francisco and Vladivostok'
In order to avoid trouble with LABOR
unions which might cause delays later
on. the Remington people made theirs
a closed shop plant, thereby causing
Bridgeport to become a union town
overnight.
The contracts which the Remington
II. NJ. C. Corporation originally had
with the foreign governments were re
rorted to amount to S225, 100000, OF
which s15O,OOOOOO was in Russian
contract. $4,000 900 in French con-
tract and s25,OOO,O0O in a British bay
onet and rifle contract. The number
If rifles 20 be turned out amounted
70 six and one-quarter millions.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-26
BRITISH PRESS
HITS HIGH PRICES
Government Blamed for
Sharp Rise in Cost
of Food.
By FRANCIS w. HIRST.
fBy Cable 70 The Tribune.

London, Aug. 25.-The debates on
the adjournment Of Parliament have
thrown some light on the diplomatic
situation. Premier Asquith stated
that the German government has
not vet shown any disposition 10
agree to peace except upon terms
which would be intolerable or hu-
initiating to some of the Allies" He
added that all terms suggested so
far had been published in the press.
Lord Robert Cecil added explicitly
that no overtures of peace had been
made, either directly or through
neutrals. Viscount Grey's CORE
spondence with Sweden indicates the
difficulty of reconciling neutral with
belligerent rights. Lord Robert
Cecil holds that belligerent rights
cannot be codified. Indeed, expert
ence shows that in war time inter-
national law is a compromise result
ing from the pressure exerted by
neutrals and belligerents upon one
another.
Lord Robert defended the blacklist
on the broad and incontrovertible
ground that the British government
is entitled to prohibit British sub
jects from trading directly or indi-
rectly with the enemy.
The high food prices are attract
ing much attention and are being
used by the Northcliffe press for
unfair attacks on the government.
Vice-President Pretyman of the
Board of Trade, pointed out on
Wednesday that what really governs
prices is supply and demand.
Food prices here are not British
prices, but world prices. Pretyman
declared boldly and correctly that
"the main reason why prices are
high is this worldwide war"
He calculates that the food con-
sumption of the British, French,
Italian and Russian soldiers is half
as much again as if they had re-
NAMED in civil life. This fact and
the simultaneous decrease in sup
plies by the withdrawal of labor
from the land accounts for the rise
from fvepence half-penny to nine
pence half-penny in quarter loaves.
The rise in freights represents one
penny of the fourpence.
The outcome of the Canadian and
American crops is being anxiously
watched. The Board Of Agriculture
states that the home stock Of horned
cattle is a record in the history Of the
country. Despite the obvious fact
that the British government cannot
lower world prices, "The Manchester
Guardian" speaks to-day of "the
steadily growing resentment among
the masses Of the people at the ex-
orbitant prices of foodstuffs in Eng
land" and contrasts the sufferings
Of families on fixed incomes with
the gigantic profits Of the shipping
companies.
The disarmament clause in your
naval bill may figure at the post
bellum conference. 1t chimes in
with the wishes rather than with the
expectations Of peace idealists and
with forecasts of an early paradise
after the war.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-26
Money and Credit.

Call money on the New York Stock
Exchange ruled at pa per cent.
There were no changes in the rates
for time loans or brokers' collateral.
They were Pa TO per cent for sixty
days, 3 to 81 for ninety days. and 81
to 4 per cent for longer periods. These
rates are all on mixed collateral.
Loans secured by industrial shares
alone are u TO "a per cent higher.
Commercial Psper.-The demand IN
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-26

Wall Street Is very good, notwith-
standing tho large investment OF idle
bank funds in tho new British loan
Rates we're 81 to 81 per cent Tor
maturities Of sixty to ninety days and
81 to So for four and ak months
paper. Of the best known character
Brokers are Offering some new
names" on which rates are higher.
Official discount rates In each OF the
twelve Federal Reserve districts are
as follows:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-26

The above rates express the cost Of
foreign money in terms Of the Ameri-
can dollar. You buy an English pound
sterling for s4.75A; the intrinsic par
ity is $4.s63s per pound. Thus, you
say either that pounds are at a dis
count or that dollars are at a 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.
II you calculate the cost OF the dol
lar in terms Of foreign money-that
is, as II you were buying dollars with
pounds, marks or francs-its value
yesterday and year ago would be
about as follows:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-26
DIVIDEND NOTICES.
GREENE CANANEA COPPER c.

a. Broadway. New York. " T.
The Board Of Directors o. the Greene Cantnes
Copper Company has declared dividend q s.
per share upon is Capital Stock Of the par VLs
Of $4,000 per share payable on August 70. lsl6
10 the holders Of such shares OF record AZ the
close OF business at o'clock p NJ Friday. Au.
gust IL. 1915. The dividend payable onJ upon
the 500 90 shares into which tho Cspttai STOCK
Is divided. All Stockholders who have not con-
yeried their holdings into shares Of sl0ow par
value should do 50 without delay N order h,i
they may receive their dividend promptly.
TIE transfer books will not he closed.
J. W. ALLEN. rrsaTrw.
New York July II. 1915
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-26
Cost OF one dollar.
United States Treasury Finances

Washington. Aug. 25.-The condition
OF the United States Treasury at the
close Of business to-day:
Net balance in general fund, $685.
90o,265; total ordinary receipts, ST.
55o.955; total ordinary payments, ST.
434,522.
The deficit this fiscal year is s24,-
856,e73, against deficit of S2o,e64,379
last year, exclusive Of Panama Canal
and public debt transactions
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-26

are arranged. Employers appoint
days for stopping work and deliver
ing the ears of their employees to the
propaganda. Women take part in
the work. The newspapers give
splendid publicity. Thrift is perhaps
of all things the very safest to be
unfinchingly advocated. The word
is made to have vogue. 1t gets into
the colloquial speech. Advertisers
take it up. Prices are reduced in
the shops, for no such obsolete reason
as to clear off stock, but to encourage
thrift. The railroad that puts on
new train to cut down the time be
tween two points advertises that to
save time is to be thrifty, and calls
the new high speed, wasteful train
the Thrift Special.
In spite Of all this, some are deaf.
The way to reach them is through
the eyes. That was provided for in
advance. A big feature of the cam
paign is the moving picture show.
There is no greater medium" says
one of the bulletins, than the NOV
ing picture for drawing the atten-
ton of the public to a particular
movement" So there is a three-reel
film entitled 1.-THE Reward of
Thrift" 1t has been shown already
in moving picture houses to more
than 100000 peOple-that is, to
people who spend their money going
TO movies. But Reward of Thrift"
is a forbidding title. There will
be something much better. When
you go in for a campaign the cost is
nothing if you can get the results. A
high-priced writer has been engaged
to produce a siX-reel film called "The
Adventures Of Bill" 1t isn't quite
fair. The Bill adventurous is dollar
bill, and the moral is very thick.
Far be it from any one of us to
discourage thrift or throw cold water
on a good cause. 1t is merely neces-
sary in the interest of truth to call
attention to the fact that notwith-
standing our extravaganza, our
shocking wastefulness in every direc-
ton, we are actually at the present
time putting wealth aside for the
future at a rate unparalleled in hu-
man experience. Never before in
economic history, perhaps, has one
people produced a greater surplus
over its own wants. We sell the sur
plus. In two years we have loaned
to foreign countries S1,600,000000,
and at the same time we have re-
bought from foreign holders $1,000
100000 of our own stocks and bonds.
This is a measure of the surplus of
goods we have produced in excess of
our own requirements and sold to
other countries.
1t is not saving, exactly. 1t Is get
ting ahead. We are not a saving
people, but we progress in wealth.
How? By producing it. When an
American finds that his outgo is ex-
ceeding his income he does not think
of reducing his expenditures. He
thinks only Of how to increase his in
come. That is characteristic. And
there is at least as much to be said
for that way as for the other. France
is temperamentally saving nation.
She boards her wealth and invests it.
But she has never progressed in
wealth as this country has, wasteful
as it is.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-26

The military critic of "The London
Times" projects the war through
1917 and 1918, as if nobody had Sc
riously thought of its ending this
year. For several weeks the finan-
cial writers in London have been say
ing that the British Treasury's calcu-
lations were all based on the expecta-
ton Of a long deferred end. The
same thought, somewhat yelled, has
been appearing in political utter
ances, both in Great Britain and in
France. 1t is fully evident, in fact,
that an early peace has been de-
SPARED of all around. This has an
important bearing upon calculations
in this country. II the war goes on
our "war trade" will hold up, pro-
vided we are able TO furnish the
goods on credit, Payment is made
IN ~ the belligerents' promises to
pay, and (2) American securities
owned abroad. There will be pres
emily an end Of the securities. Then
it will be a question of taking prom
Uses to pay alone. 1t is very prob
able that in the next twelve months
European borrowing here will be
heavier than in the last twelve.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-26
The Dollar in Foreign Exchange

The interesting incident of the for
eign exchange market was further
rise in the value of the Russian ru-
BILE. A new Russian loan in this coun-
try may be imminent. Rates for other
foreign money were but nominally
changed. Exchange on the principal
foreign bank centres closed as follows;
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-26

II the silly "buy-a-bale-of-cotton-
please-to-help-the-South" movement
had succeeded in 1915, people would
now be cashing in and the South
would be very sorry.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-26
Electrical Refining.

The British Canadian Nickel Com
pany formerly the British-American
Nickel Company is about to begin the
development of power on the Wahnapi-
tae River, near Sudbury, Ont, for use
al the company's smelter. The COM
pany will erect a refinery at Copper
Cliff, Ont, at the same time. The
power rights have just been leased
from the Ontario government The re-
finery will cost approximately $4,000
600. Toronto interests are in control
Of the company-supposedly the Mac
kenzie and Mann group, OF Canadian
Northern Railway repute. The concern
is financed in Great Britain. 1t has a
contract with the British government
under which the latter will take its
entire output for at least ten, land, 1t is
understood, for twenty years. The
British Canadian company owns 1900
acres in the Sudbury nickel-copper re-
gion, and in its refining will employ
the Hybenette electrical process, now in
use in Norway. The Mond Nickel Com
pany, which rehnes in South Wales, is
already under British control.
These new arrangements will secure
an ample supply Of nickel for all the
needs Of the empire, both in war and
peace. They mean the consolidation
within the empire of control Of over so
per cent of the worlds output Of nickel.
The time is not far distant when the
nations will have to come to the Do
minion for their nickel, as only a small
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-26
Maturity In days.

Bank Statement.-The reported move
ment of money to and from New YORK
and between the banks and the Sub
Treasury indicate that the Clearing
House banks to-day will show large
gain in cash, estimated as high as
sl2.OOO.OOO. 1t will be interesting to
see how, if at all perceptibly, the Brit
isb loan will reflect itself in the bank
statement.
Bank Exchanges.-The days clear
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-26

Sub-Treasury. - New York banks
lost to the sub-Treasury $1,746,ooo.
Silver. - Bars in London, 81 9-lo
pence. Bars in New York, 664 cents
Mexican dollars, 51@55 cents.
Foreign Comment.-"The London
Statist" says: Much of the money IN
London at the present time is not
available for investment in long term
securities, and the present rates either
encourage the direct investment Of for
eign money in Treasury bills or they
enable banks and discount houses to
offer favorable rates for the employ
ment of foreign balances at short no.
tice as to withdrawal. The joint stock
banks are in position to offer at
tractive rates even for balances de-
posited with them at call, and in the
last week business has been done with
American houses or these lines. This
movement is Of direct benefit to the
American exchange position and indi-
rectly to the exchange situation as
whole in so far as it relieves the
money market of the influence of a
certain amount of short money which
was sometimes offered at competitive
rates"
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-26

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, 1916-08-26
Friday, August R5, 1915.

The stock market was in a sec
ondary mood Of reaction. Prices de-
clined moderately, not so much in the
railroad group as in the industrials,
where the speculation had been most
active. The aspect Of the strike par
ley at Washington probably had
nothing to do with the character of
the market. Steel common at It's
lowest point showed a reaction of 212
dollars per share from the top, and
that was the least that one might
have expected after an uninterrupted
rise Of more than IS points. If one
may suppose that the market in this
stock is controlled by certain power
full financial interests, as is probably
the case, then the inference would
be that they had not wished to at
tract a very large following on the
rise to this level. The performance
might easily have been much more
exciting than it was. Commission
houses, it is discovered, have in
creased their holdings Of the stock
less than on any corresponding rise
that can be remembered.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-26
Great Britain's Protection.

Great Britain, with the cooperation
of the Canadian government, was able
to secure protection for herself and
her Allies against exorbitant prices.
The Allies have been getting steady
supply of nickel, ample for all military
and commercial uses, from Canadian
ore refined in the United States, at the
price which ruled in normal times, with
added war insurance charges and the
additional cost in ocean transportation
only. Even at that, the international
Nickel Company has been making very
large profits, by reason of increased
production. Russia is now receiving
Canadian nickel at the rate of about
100000 pounds per snnum, whereas
before the war that country got prac-
tically none. In addition the consump-
ton Of nickel in the United States
has doubled.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-26
Finance Economics

GAREr GARRETT, Editor.
WALL STREET OFFICES Telephones,
Mills Building 10 Broad ST. Hanover eSl%
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-26

AS a piece of skilful financial
craftsmanship the handling of the
S25O,OOO,0OO British loan deserves
hearty admiration. There has been
something of an Old World air about
it. Wall Street is becoming interna-
tional. For one thing, there was a
finished theory behind the transac-
ton. The loan was good-as good as
anything could be-and for the rest,
if people wanted the kind of pros
perity they had been having they
would have to buy this loan, and
similar loans to follow, and it was
time for them to make up their
minds. They could take or leave it.
So they took it.