davidaulloa/AmericanStories huggingface dataset:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-12-09
FLAWS In THE
1917 PROSPECT
Costs Hard to Calculate
Some Munitions Makers
Come Out Badly
Philadelphia. December s.


The large manufacturing interests
here arc having the greatest difficulty
in figuring upon the acceptance of 1917
orders. It is almost impossible TO quote
prices for distant dates. The ideas OF
one day have to be revised the next
dav. in accordance with the sharp fiuc-
tuations in the market for raw ma
terial Some industries have so much
business on their books already that
it is difficult for them TO figure on sur
plus production during the next SIX
months. Nearly everything that they
use is selling at prices which make IL
hazardous for them TO become too
optimistic about the future. Every
thing at the moment tends towards
bopefulness, but the developments OF
tho last week show that another UNI
certainty has to be reckoned with IN
considering the possibility OF future
moves by the Federal Reserve Board
This is because war orders are so
closely related 20 high finance that
nothing which vitality affects the one
can avoid influencing the other.
The IS per cent rate for call money
in New York was a reminder that the
money market fluctuations are likely
70 exert more influence upon the com
merce of 1917 than has been the case
this year. The shrewdest bankers that
YOU meet these days are setting their
house in order.
II is becoming increasingly evident
that the munition makers have not
had everything their own way. Some
are sitting up nights studying how they
can make a credible showing in their
end-of-the- statement. This IS be-
cause certain manufacturers have
found il more difficult to live up to the
requirements of their contracts with
foreign buyers than they supposed
would be the case when the business
was first booked. Although three
quarters Of these contracts may prove
to be highly profitble, there is an
other quarter which may show up
sufficient loss 10 neutralize the gains
in other directions.
A Lesson in Foreign Trade
This only means that it is always
hazardous undertaking for man 70
attempt a line of business which ne
knows nothing about. The experience
Of this market has probably been re-
heated at other industrial centres
where manufacturers have pursued
war profits without giving proper ap-
preciation 70 the real meaning OF the
adroi.lv worded contracts which nave
Governed these immense undertakings
Nevertheless. the experience has been
helpful in teaching American interests
that successful competition for foreign
business involves other considerations
than have 10 be thought Of in taking
orders from their regular customers
here. Handsome fortunes have been
cleared By men who have gone for this
business properly, having due regard
for the fluctuations in the price OF
labor. raw materials and the hazards
which always have 70 be reckoned with
in doing something that you have
never done before.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-12-09

Heavy Gold Exports to Argentina
American gold coin to the amount of
$4,000 was withdrawn from the
Sub-Treasury yesterday Tor shipment
abroad. OF this, $4,000 will go to
Argentina and $3.50, 900 to Spain. This
is the largest outflow Of gold for a
single day since the heavy export
movement 10 Europe following the out
break Of the war.
Total exports OF gold to Argentina
since the current movement began
las. month now amount to approx
mately S25.O00OOO. The balance Of
trade between Argentina and the
United States is running strongly in
favor Of the former. and the position
Of exchange between the ,wo countries
makes it more profitable TO send gold
than to pay through the ordinary re-
mittancc channels. The intrinsic value
Of the Argentine peso in terms OF
American currency is 96.4S cents. At
the present its value is around 80
cents. In other words. the peso COM
mands a premium of approximately 8
cents.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-12-09
Relevant
Information

Norfolk Southern.-This was one OF
the strongest of the low-priced rail-
way issues yesterday, advancing 2'7
points on small dealings to BIZ. The
company is the successor to the Nor
folk e. Southern Railway Company,
whose property was sold to a reorgan-
ization committee IN 1910. Approx
mately 900 miles of road are operated
in Virginia and North Carolina. The
company owns the entire s1,0o0,000
stock and s5,0OO,0OO bonds of the John
/. Roper Lumber Company, which IN
turn owns about 100000 acres of tim
Der lands and 100000 acres of timber
rights in Virginia and North Carolina,
ten planning, saw, single and cedar
mills with an annual capacity Of l5O,-
600, 900 feet, board measure, and about
100 miles Of standard gauge logging
railroad. Last week the road sold 40,
600 acres of its land in Eastern North
Carolina to New York interests to be
developed along the lines of farming
and stock raising. Norfolk Southern
has paid no dividends since 1914. The
last disbursement on the Sl6,O0O,0O0 OF
stock was quarter Of l per cent
In 1916 earnings amounted TO 2.44 per
cent on the stock, against nothing in
1915 and 1914. In 1918 5.65 per cent was
earned on the stock.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-12-09

The saying in England at the be
ginning Of the war, Business as
usual" was not a British boast
Neither could it be called an idea.
Il was a reaction. Marvellous re-
suits are showing. As a buyer Of
merchandise in the markets of the
world Great Britain is paying very
dear prices, but one must remember
that in spite of the war she Is
larger seller of merchandise also,
and that she sells at high prices.
The money value of her exports is
rapidly approaching the normal of
peace times. She is selling coal not
only TO her allies, but also to her
old customers. Spain, Chile, Brazil
and the Argentine Republic Fancy
British fuel being exported to Latin
America In the nine months end
cd September so. 631,00O tons were
sold to Argentina. for $3,875,OOO.
Great Britain exports manufactures
of steel and iron, not only to her
allies. especially France and Italy,
brt TO the Netherlands, Australia,
Canada. Japan and even to the
United States. In the nine months
ended September 80 she exported
more than S6,0O0,OOO worth Of steel
and iron manufactures to this coun-
try. But in the textile trade she
has put forth her greatest effort.
Actually, she is holding her place
in the markets Of the world with
cotton piece goods and woollen cloth,
Her exports of cotton piece goods
10y quantity and value, during the
nine months ended September 80,
compared with those for the CORE
spending threc-quarters Of the pre-
ceding year. were as follows:
lel6..... 4.13O.2se,oOO s345,54o 900
I9l5..... 3.st9.3s5,oOO 261,6soooo
? The countries to which the ex-
ports went were these: Netherlands,
Belgium, France, Switzerland, Port
ugal, Italy, Greece, Turkey, Morocco,
West Africa, Persia, Dutch East
Indies, Philippine Islands. Siam,
China. Japan, United States, Cuba,
Mexico, Central America, Colombia,
Panama, Venezuela, Peru, Chile, Bra
I'll. Uruguay. Argentine Republic,
Egypt, Ceylon, Australia, India,
New Zealand and Canada. In nine
months Of 1916, 10 the end of Sep
TENDER. British exports of woollen
cloth TO the Argentine Republic were
S,27s,000 yards, against 100000
yards in the corresponding three
quarters Of 1915, and Of linen fabric
$4,000 yards, against 2174,O00
wards the year before.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-12-09

The above rates express the cost OF
foreign money in terms of the Ameri-
can dollar. You buy an English pound
sterling for s4.75if; the intrinsic par
itv is s4S6Fs per pound. Thus, you
saw 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 accounts in th:'
country is greater than the demand il
this country for pounds with which e
settle accounts in England.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-12-09
Christmas Bonuses

The Hartman National Bank Will
distribute to senior employees l6 per
cent Of their salaries for the year, and
to Junior clerks from II to ii per cent,
based upon term of service.
The Metropolitan Trust Company
will give employees Christmas bonus
Of 10 per cent Of their yearly salaries
This is an increase over the usual
per cent bonus of previous years.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-12-09

Bank to-day. A large proportion OF
the borrowing is in the collateral loan
form permitted by the reserve act
amendment. the paper Of most Of the
city banks maturing within fifteen
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-12-09
Money and Credit

Money on call at the New York
Stock Exchange continued to display
an easier tendency yesterday and the
ruling rate was per cent, compared
with ~ the day before. This com
pared with high on Monday of 10 per
cent. Some loans we're made as low
as per cent.
The market for time funds on brok-
ers' stock Exchange collateral showed
no further recession in rates, although
the undertone is much easier. Loans
based on industrial collateral range
from AZ to 3 per cent. On mixed
loans the rate is 4 10 a. per cent for
all maturities.
Ruling rates on money yesterday
compared with year ago, were as
Yesterday. Year ago.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-12-09
The Dollar in Foreign Exchange

The market in foreign remittance
Yesterday was characterized by IN
creasing frmness in francs and ster-
ling. Exchange on Vienna set another
new low record at 11.24 cents.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-12-09
Canadian Land Grants

During the nine months ended Sep.
TENDER 80 there were 1919 free land
grants of 10 acre, each, total of
1,623,s4o acres, given 70 settlers in
Canada
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-12-09

The British have a battling instinct
for trade. More than a century ago
'apolcon sought TO ruin England's
Smmerce. He caused Europe TO de-
iare a boycott against English
made goods. The effect was to di-
ninish England's trade with the
Continent, but It could not be de
stroyed, and before the boycott had
been lifted the sale Of licenses &c
deal in English goods became a
source Of revenue 10 the French gov
Qnment. 1t had been unable TO pre-
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-12-09

Below is given the current efchange
value of foreign money IN dollars AND
cents. together with the intrinsic goic
parity, as calculated by the United
States Mint:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-12-09

Commercial per.-Tradlng in COM
merecial paper continues dull, and
slightly easier tendency is in evidence.
Prime regular maturities are quoted
unchanged at per cent.
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, 1916-12-09
Weeks Money Currents. Mo

" eek 5 Money IurrehIs.- NOVtWtHVS
Of currency during the week indicate
a gain in cash by the banks Of ST.
500. 900, according to the estimate Of
Dow. Jones & Co. The loss TO the
interior was s5,sS2, 700, which was
more than Offset by the weeks gold
imports. Although the total arrivals
Of the metal amounted to 100000
only s25,OOO,0O0, much Of which was
received last week, was paid out at
the local Assay Office and through
transfers from Philadelphia. The rest
is being weighed. and will not show in
the bank statement until next week.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-12-09

Ajax Rubber.-This issue was very
strong yesterday and closed 4 points up
at 1874 after advancing from ISL. to
81. The stock was listed on the ex-
change last June. There is $4,000, 900
(par $500 Of an authorized issue of
100000 outstanding. This company
is the successor of the Ajax -Grieb Rub
Der Company, and was organized a year
ago. II manufactures automobile cas-
ings and tubes and has a large plant
located az Trenton, y. J. The income
account Of the nine months ended MAY
81 last showed a surplus of $685., 547
after dividends Of S10s,S75 had been
paid. The initial dividend was si.25
paid in March. making the annual rate
IS, or 10 per cent. The company in its
last income statement carried good will
and trademarks at sI20,966.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-12-09
Dividends

Standard Coupler Regular semi-annusl
dividend OF per cent on the preferred stock
and a dividend Of ~ per cent on the COM
mon stock, payable December % 70 stock OF
record December Is. The last dividend on
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-12-09

Gold ImpOrts.-The arrival Of Sl5'-
500 900 in gold from Canada yester-
day for the account Of J. P. Morgan
& Co. brought the total imports for
the week to S50,9OO,coO, new record.
For the year to date the imports now
amount TO S565, 100000.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-12-09
National Enameling and Stamping

NATIONAL EndUellHR anu stamping
The common stock Of this company was
unusually active yesterday and ad
vanced II. points 10 SO on dealings o.
22,700 shares. There is 1851 800 OF
common and sS,546,600 Of per cent
cumulative preferred outstanding. Tho
full dividends have been maintained OF
the preferred since organization. Moth
ing has been paid on the common since
1905, when stockholders received pa
per cent. The latest statement Of earn
ings available, covering the full year
of 1915, showed 2.02 per cent earned on
the common. II was stated last year
that the company had war orders
amounting to s20,00O,OOO on commits
sary department contracts. President
Kieckhefer, in his report 70 the stock
holders, early this year said: "The
company has not prohted by any so.
called war orders, but, on the con-
trary, the results were TO ar extent adj
versely affected by the continued in
crease in the cost Of raw materials.
higher prices of which were no doubt
brought about by the greater Euro
pean demand" Since organization the
company has shown average annua!
earnings on the common stock OF 2.O4
per cent.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-12-09

Rediscounting at Philadelphia. -
Philadelphia, Dec. s.-About 81 100000
additional rcdiscounting was arranged
81 the Philadelphia Federal Reserve
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-12-09
Friday, December 8, 1916.

Finance has its East and West.
The feud began at the beginning and
IS chronic. Never was il 20 intense a5
Low The East says the West is
holding the stock bag, which is TO say
that Wall stree has heavily unload
cd; and the West in its vanity says
the East be damned. One who goes
back and forth-only one who doe;
that-can have any idea Of what tins
feeling is. The rise in call money
this week to - per cen- infurlatei
Western spectators. With one emo
t,on they exclaimed: I'VE know what
that means. They are trying to
shake us out. But they can't do IT.
Wherein YOU may see for yourself
that the West has been progressing
i'm technical knowledge and is no less
obstinate than it has always been.
il is a very interesting, not 70 say
romantic. situation. What is so OF
ten true Of the individual now is true
of the West. il doesn't care so much
for the money as for the fun Of beat
ing Wall Street. l. never has.
With The surplus reserve Of the
New York banks at S4O.OO0,OO0, with
large amounts Of gold known to be
en- route from Canada. and with the
resources of the Federal Reserve
Bank untitled almost TO the point
of seeming to have been boycotted, 1T
cannot be maintained that there was
any necessity for the 10 per cent call
money rate touched this week. 1t
was a reflection Of bad temper and
cupidity. Nothing of the kind had
10 happen in the least. The West
believes it was a deliberate attempt
an the part Of the Wall Street banks
10 shake out the stock market That
is a gross suspicion. One need not
90 so far. One may content ones
self with saying that by allowing call
money to touch - per cent when it
was not necessary that it should 60
over 4 or Az per cent, the banks
failed to show that tenderness for
the stock market which under other
conditions they would be expected to
feel
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-12-09
ANDREW J. MCCORMACK. Aoe,i'ss
PEt;r'IAR AUCTION SALE.
STOCKS AND BONDS. .ox
BY ADRIAN II. MULLEN ~
OFFICE. NO. IS WILLIAM u
WEDSEsDAY, DC. IL, uis


EXCHANGE SALEskOon,
nos. IL AND Is yESEl sIn.nes
FOR ACCOUNT OF ExE.Usocs, q
So, 900 Sultspec Electric Lisht W. III
ist Con. Mtg. Sc. bds' ma" ."
coupon on. ,,-,, a yrys
Co. prefd. ,rv>
so .hs sultepec Electric Lsh s"
Co. common.
Ssh, Peoples Surety Co.
1 h Andrews Holding 60;
FOR ACCOUNT OF ADnISisIn.s q.
sT.SS shs. United states Litnos'sV
common. x., d
$3.50 shs. United states Lithosr*'
prefd. roxrTf,
FOR ACCT. OF WHOM 1T MAY COM.
20 shs. First Mortgage Guarah"
II shs. Summit Branch r. ~ -
shs 81. Louis ore 4 steel ~
so shs. Wander-Hsinemsnn ~,
so shs. Wander Hsinemsnn "a .,,.r, n
$1,000 Dry Dock. East Bway Ds"~'
r. Sc CT. OF Indeot.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-12-09

sub Treasury.- New York banks lost
20 the Sub-Treasury $4,000.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-12-09

Silver Bars in London, 35ii pence;
New York, 1874 cents; Mexican dol
lars, 5s@s cents
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-12-09
Maturity in days,
'I5-day paper.

Bank Exchanges.-The days clear
ings at New York and other cities:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-12-09
CORPORATION Retums

Toledo. 81. Lssis . w~sss ~
1915. y
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-12-09

Detroit United Rsns0
tafa
The Jeffersonian. [volume] (Atlanta, Ga.) 1907-1917, 1916-04-06
READER WHO is GETTING
POSTED ON BOTH SIDES.

Dear Sir: A few days ago some
one, evidently Catholic, sent bun
die of Catholic papers and other
dope to me, probably thinking l
would be enraged on receiving it.
However, was much pleased to read
over their dope Sheets" and, as l
expected, it was all one-sided and as
Catholic as it could be. With all
the stuff they hand to the gullible
I don't see how it is possible for a
man who has reached his majority
to see and think and follow their
teachings. We have to hand it to
the unwed fathers in knowing how
to pull the wool over the eyes Of
their meek and lowly focks.
l, for one, am content to remain
a "heretic," one whose mind is free
and easy and having no fear nor
superstitions to hover over me as the
papists do.
I am sending with this letter a
small bundle of papers I received.
I thought perhaps if you looked them
over you might find some articles or
only few words which may help
The Jeffersonian. [volume] (Atlanta, Ga.) 1907-1917, 1916-04-06
FROM A FLORIDA FRIEND.

Dear Sir: have been a constant
reader Of The Jeff ever since it was
established, eight or nine years ago.
[ have enjoyed your writings very
much; have read a number of your
books, and think they are grand. 1t
is certainly wonderful gift to be
able to express such beautiful
thoughts as are contained in your
book, prose Miscellanies.
Your friend,
Fla. S. w. MORELAND.
The Jeffersonian. [volume] (Atlanta, Ga.) 1907-1917, 1916-04-06
LETS HELP OUR OWN ORPHANS
FIRST

To the Baptists of Georgia.:
Let's pay the orphans out of debt
before we send any more to China,
Japan or any other foreign nation
Our preacher called for a donation
for the orphans last Sunday and said
that the institution was nine thou
sand dollars in debt. Now with all
due respect to the ministry, if I were
a minister, | would not ask con-
gregation for a cent for foreign mis-
siOns until our own helpless ones
were cared for.
J. G.. HAMILTON.
The Jeffersonian. [volume] (Atlanta, Ga.) 1907-1917, 1916-04-06
"GIVE US RURAL CREDITS AND
THE RECALL!"

OOdI Dill I1OW 1OuS Sudll Lu0 p0O-
pie suffer? Give us Rural Credits
and the Recall. Taking Democratic
party view of the situation, Nos. 22-
6, the latter part, we the party of
the South are left to the mercy of
the parties of the North and East.
If they bless us we are blessed, and
if they curse us we are cursed, and
we have been getting the latter. We
have been trying to follow the party
ever since the Declaration of indie
pendence, but our leaders made us
numerous promises three years ago
at the Baltimore Convention, and
they have done everything except
what they promised.
We will suppose that Ba-lak is the
Democratic party, which we all ad-
nit is run and controlled, largely
at least, by the Roman Catholics.
And l will say that Mr. Wilson could
have represented Ba-lam; if he had
carried out his promises he would
have been blessing to our coun-
try, but we will all have to admit
that he has saddled his ass and is
trying to ride over the people, My
God! My country, stop and do a
little thinking before it is too late.
Think Of preparedness. l think that
we ought to take care of our sea-
port towns. I think that has already
been neglected. If we put our coun-
try under military rule it will bank
rupt our country. You take the
Anglo-Saxon race, and history shows
that the volunteers of our country
have always made the best soldiers.
I will say in conclusion, with all
due respect to all classes, that have
never voted for Democratic Presi-
dent, and l feel proud of it. | will
give reasons why / have never voted
that way. My father guarded the
Northern prison at Andersonville,
Ca, and [ have talked with men who
were in the Rock Island prison, and,
according to my judgment, they had
more humane treatment at Rock
Island than they did at Anderson
vile.
Let us all take heed to what Hon.
T. E. Watson has said. Stay out Of
the primaries, and then we are free
to vote as we please. / think the
time has come for us to vote for men
that will work for the masses re-
gardless of the classes. So let us
look around and see where we are,
and see if we cannot elect men who
will give us what our Constitution
calls for, or at least give us Democ-
racy, whether it be under the name
of Republican or Democrat
do not mean to cast any refiec-
ton on the Bible, but I do think
we all ought to read it more than
we do.
l will close by wishing that the
Hon. T. E. Watson may live to see
roses scattered in his pathway while
he is living. May the richest bless
ings that God can bestow upon man
fall upon him and all that is dear
to him is the prayer of
Your humble servant,
Ca II. A. HILTON.
The Jeffersonian. [volume] (Atlanta, Ga.) 1907-1917, 1916-04-06
Fla.
JEFF. ADS. ARE HUSTLERS.

The Jeffersonian, Thomson, Ga.
Dear Sirs: Please discontinue our
advertisement and send bill for same.
We have sold out all our seed and
are glad to report that results from
your paper have been very salts
factory. Yours very truly,
PEDIGREED SEED co.
The Jeffersonian. [volume] (Atlanta, Ga.) 1907-1917, 1916-04-06

Read Foreign Missions Exposed, by
ThOs. e. Watson. beautifully printed.
Pr0fuseIy illustrated. Price 80 cents.
The JeffS1 Thomson, Ga.