davidaulloa/AmericanStories huggingface dataset:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-11-14
SERIOUS SEED WHEAT
pROBLEM IN NORTHWEST
Farmers Cautioned Not to Sell
Themselves Bare

Minneapolis, Nov. 13.-The North
west is facing the most serious seed
wheat problem ever known in conse-
ouence of the low quality of the 1910
crop. and the Minneapolis Chamber OF
Commerce, Duluth Board Of Trade
Minnesota, North and South Dakota
State Agricultural colleges are Hood
ing the country with advice to farmers
TO hold back good seed for the 1917
crop.
Dean A. f. Woods, OF the Minnesota
State Agricultural College, sounded a
warning recently, and editors Of agri-
cultural papers are also working to
awaken the farmers to the situation
C. NJ. Harrison, president Of the VAN
dusen- Harrington company and former
president of the Minneapolis ChamDer
of Commerce, who is in close touch
with the situation, believes that there
will be sufficient seed, provided the
farmers do not yield to the attraction
Of so wheat and sell themselves bare
There is no evidence at this time that
MANY of them are doing this. The Dali
rvmple. Larimore, Mathews and otner
big farms have their seed wheat stored
and will not sell at any price.
"While the situation is without prec-
edent. it is believed the Northwest VIII
get through" Mr.. Harrington said' pc
cause of the repeated warnings to
farmers not to attempt to use the 10"
grade wheat from the 1916 crop. Inere
was a liberal carry-over of 1919 wheat,
and if this is insufficient there IS COCO
seed in Montana and Alberta tna'
would be available. 1t is unlikely
there will be any Russian seed import
ed but quite probable that there Will
he Canadian seed wanted
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-11-14
Wheat Prices Lower than
in New York-Specula-
ton Too Active
BIG SEIZURE OF
OIL IN RUMANIA
Bethlehem Steel to Buy the
Germans Out of the Le-
high Coke Company
eless via Sayville to The Tribune)
BY ERNST KAHN
RerIiu NOvember IS.

BY ERNST KAHN
Berlin, NoUember IS.
Wheat prices in Germany are now
Ia per cent lower than in New York
and "a per cent lower than in Lon
don.
The German army found and
seized in Constantine Rumanian
Black Sea port 100000 tons of oil,
an amount equal to the German con-
sumption for two months in times
of peace. In this prize were 4O,OOO
tons of benzine that had been bought
bv the Entente Allies at the begin
ming of the war.
As stock exchange speculation has
been increasing again, it is proposed
that the government shall impose
further restrictions upon trading IN
securities.
The agitation for reforming the
antiouated custom of cash payments
in Germany has begun to bear fruit.
Customers of the postal check sys-
TEN have increased 80 per cent since
the first of the year.
The Bethlehem Steel Company in
tends to complete the purchase OF
the Lehigh Coke Company, and will
take it altogether out of German
hands.
The German Admiralty, following
the example of Great Britain, has
declared bunker coal contraband, and
now the Dutch MERCHANT marine is
between two fires.
Some of the industrial profits for
the 1876 fiscal year, now being
reported, are astonishing. The net
profit of nineteen representative rub
Der companies was 100000 marks,
against 1O,500,000 the year before;
ten paper mills show 100000 profit
against deficit last year; fourteen
motor companies show a profit OF
38.OOO,OOO against 100000 last
year; thirty-one metal works show
S5,OO0,OOO profit, against 100000
last year. The profits of the Allge-
meme neutrality-suspicious. 1.-THE
General Electric Company of Ger
manyl were 27OOO,OOO, against 21,-
1000 last year, and 1t paid a divi-
dend of II per cent, against II the
year before.
Industrial amalgamations con-
tinue.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-11-14
RAILROAD SITUATION
IS WIDESPREAD TOPIC
Trade Bodies Request Action by
Chamber of Commerce of u. S.
Washington, NoUember IS.

W USHtNDtOtt 4'NNN"NN~'
Resolutions are coming into Wash
inoton from trade bodies throughout
the country requesting further ac-
ton by the Chamber of Com
MERGE of the United States on the rail-
road situation. The requests are a
forerunner Of meeting of the Cham
hers National Council, to be held here,
at which there promises to be vigor-
Gus discussion of all phases of the rail-
road controversy, including proposed
anti-strike legislation.
In addition to the National Council
meeting, November II and Is, provision
has been made by the National Chamber
for committee to study the railroad
problem in all phases pursued by the
Joint Congressional committee Of which
Senator Newlands is chairman, and
which is to convene in Washington No
vember 20.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-11-14
American Shipbuilding
Washington, November 10.

American shipyards turned out dur
ing the first ten months OF the present
year 96s sailing, steam, gas and un-
rugged vessels of 4o5,Ss4 tons for
American shipping concerns and SO
wooden vessels of 372 gross tons and
II steel vessels Of 25,41s gross tons
for foreign owners.
OF the vessels built for American
shippers and officially numbered by the
United States Bureau of Navigation,
4se vessels of 247,274 gross tons are
on the Atlantic and at Gulf ports;
253 of 74,579 tons on the Pacific; 90
of 1899 gross tons on the Great
Lakes, and 1870 Of 5,OS2 on Western
rivers.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-11-14
Sale of Treasury
Notes Is Awaited

Proposals now being considered LOT
tho sale of British ExcheQuer notes 10
financial institutions in this and other
cities will also include offerings OF
French securities Of this character.
Sponsors Of this plan expressed the be-
lief yesterday that this class OF foreign
obligation would find purchasers in
this market.
1t is interesting TO note in this con-
rection that while British Treasury Sc
curities have been sold here privately
in large quantities since the beginning
of the war. the offering expected soon
to be made will be the first Of public
nature.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-11-14

ity is s4.s6S. 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 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, 1916-11-14

Wheat and corn both advanced.
Corn is now higher than wheat was
when the war began. Foreign buy
ing of American corn has heavily in
creased. Shipments from the United.
States TO Europe since the first OF
Julv have been 1884 million bushels,
against 21a millions in the CORE
spending time of last year. The
worlds resources in grain are not
easily accounted for. Titles of own
ership are in many hands, as usual,
only some Of the hands now are
strange and have been acting with
mower never exercised before. The
ROYAL British Commission may hold
an enormous amount of wheat under
option. 1t very probably does.
There is already the startling sug-
gestion that the Northwest has over
sold itself and is likely to run short
OF SeeO 1OT JUc UtAI NiOP' ~ i""'
have to import seed grain. From
where shall it be imported? Under
fear Of shortage before the next crop,
Europe evidently has been importing
on a larger scale than last year.
That would be inferred from the fact
,ba+ wheat shipments from North
America, Russia, Argentina, Aus
tralia, India and all other surplus
countries have been 2O5 million bush
els since July /, against 149,OOO,OOO
bushels in the corresponding weeks
of 1915. Shipments from Russia are
double what they were last year, but
still unimportant, almost nominal,
amounting to only million bushels
/ since July /.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-11-14
Monday, November IS, 1916

While the stock market was falling
off in the afternoon a broker tele-
phoned from the floor the following
bulletin. which was posted IN his
Office:
There is a feeling that something IS
going to happen. Nobody knows what
it is. so everybody is selling stocks.
There is the perfect pattern.
Would that all Stock Exchange COM
ment were so simple and unpretend-
ing as this. The stock market may
be weak for reasons Of fact or Tor
reasons of feeling, but when it is weak
for reasons of feeling there is al
WAYS the effort to explain it by fact;
hence the confusion. People come to
Wall Street one morning saying
This is the day for the market to go
down." If you ask why, the answer
is that one feels" that way. If you
ask why it is that one feels that way
there is no answer at all, because you
are not a person who understands
the language in which speculative
thought is exchanged. That people
feel something is going to happen is
q nerfectlv valid reason for decline
in prices. You do not pave to ac-
count for the feeling. Nobody knows
what is feared. 1t may not happen.
The feeling on the morrow may be
different, and the change will be rea-
son enough for a recovery in prices.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-11-14
New York

International Mercantile ys
A controlling interest IN the sss,sf,<
Shipbuilding Company, II was 80 ~
in financial circles yesterday, MRS
acquired by the Information"
tile Marine Company; 80. c.urf
The New York Shipbuildins 49,
has $4,000, 900 in stock and =. 70
debt consisting Of s2,S0O,O0V a, ,St }
gage 6 per zen, bonds, dye 81
has a plant at Camden, ~ In.Issss
large waterfront on the ~
River. Earnings Oh the eommsY' ~
according TO the last snnuA, -
were equal to Is per cent On -
outstanding. The company - ..sj -
bidder for some OF Ne pf9g~snss
construction approved by '0' II
Ready to Exchange Nosssn
Morgan & Co. announce
Continued on Page II. cs'
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-11-14
News Digest
Foreign

London Markets.-London, Nov. 49,
Money was in moderate demand and
discount rates were quiet to-day.
The stock market was moderately
active as far as British and foreign
funds were concerned. Diamond end
Peruvian issues were the leading feet
ures and they were actively supported
at rising prices. Mexicans were fiat
and rails declined a point, but Rus
sian shares were better on the inn
provement in exchange. American Sc
curities were generally lower with an
uncertain tendency.
Money, per cent; discount rates,
short and three months bills, 5ht
5ss per cent; gold premiums at Lis
bon, 10.
Paris Bourse.-Psris, New. 49,
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-11-14
The Dollar in Foreign Exchange

The market for foreign remittances
opened the week dull. The feature was
q sharp recovery in Russian Rubles,
which went to 1910 cents, compared
with close of 29.4O on Saturday.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-11-14

Gold TO Uruguay.-For the first time
in several years Uruguay is'drawing on
the United States for gold. The first
shipment, amounting 10 100000 in
double eagles, will be shipped by the
National Bank Of Commerce on the
steamship leaving New York November
II. This is believed to be the fore
runner of larger shipments, as the bal
ance Of trade between Uruguay and the
United States is running strongly in
favor Of the former, owing to our large
purchases of beef and hides.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-11-14
Relevant
Information

Granny Consolidated Minlng.-Ihis
stock was one of the few issues that
advanced yesterday. 1t closed 4 points
no at 90 after rising TO 100. This was
the highest price since 1910. The COM
pany's properties are located in British
Columbia, where it owns copper, goid
and silver producing mines, besides
smelter plants. In the year ended June
30 last CRANKY sold S11,370,5OO worth
of copper, gold and silver. compared
with s5O53.SS6 in 1915. Earnings on
the s1499S,515 common stock outstand-
ING amounted to s25.46 a share, against
1919 in 1915. The company paid 81
in dividends during the year, against
nothinc in 1915 and Sc in 1914. Last
luna the directors increased the divi-
dend TO So a year, the present rate.
Latest production figures show that
CRANKY produced 3,44O,O35 pounds OF
conner in September, compared with
321SS47 pounds in August, 4'26S,S4e
in July and 4,11O,3S7 in September
1915.
Erie.-At its closing price Of 96s'
whore il showed a net loss OF 2. OF a
point, Erie common was at the lowest
level in more than a month. In Sep
tamber it sold above Al, and two weeks
400 was around 40. Erie has sl12,37s,-
600 of common outstanding, s47,S92,4OO
Of per cent non-cumulative first pre-
ferred and S16.O0O,OO0 of per cent
non-cumulative second preferred. No
dividends have been paid on either the
first or second preferred stock since
1907. The common has never paid any
thing since organization. Bonded in
debtedness of the Erie totals S2O2,232'-
53O besides which there is approx
mately $55,OOO,OOO in notes, equipment
ALLEGATIONS and bonds of leased lines
outstanding. Stockholders of the road
will be called on December to ratlfy
a plan for the creation Of large re-
funding mortgage. 1t is purposed TO
limit the authorized issue under the
new mortgage to $5O0,O0O,OOO. Fries
financial position is steadily improving
Earnings have been on the upgrade for
more than a year now and in the nine
months ended. September the road
showed net income of 1891 ,S39, COM
pared with s12,. 9SO,751 in 1915, equal
to 4.49 per cent year on the common
against 3.OS per cent actually earned
in the full fiscal year of 1876.
Railway Steel Springs.-These shares
were weak yesterday, the common fall
ing back IA points to 5Sl2 and the
preferred 1Ss points to 1904. The
company has s13,5OO,OOO Of per cent
cumulative preferred outstanding and
an equal amount of common. The full
dividends have been maintained on the
preferred since 1903. Nothing has been
Maid on the common since 1913, when
> ner cent was distributed. The oper-
atino statement Of 1915, the latest
record Of earnings available, shows
800 per cent earned on the common
stock. against deficit of s57O,54s in
1914. In 1918. after 2 per cent had
been paid IN dividends on the common,
there was a deficit OF s93,34O.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-11-14

Prices were steady on the bo''"
day. :. ,-.,,.
Three per cent rentes, 81
centimes for cash; exchange 90 =
don, q francs Sliz cenumes'
cent loan, 81 francs IS een1i""
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-11-14

toward building a balanced, two
sided foreign trade to supplant this
war trade when suddenly it shall
come to its end.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-11-14

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, 1916-11-14

Commercial Paper. No material
change occurred in this market over
the week end, and paper of the best
class continues to move generally at
3h 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, 1916-11-14
TAKE RAILROAD
IN EXCHANGE
FOR WAR FUNDS
J. P. Morgan & Co. Secure
Control of British Owned
Line in South

Acting . agents for the Southern
Railway, J. P. Morgan e. Co. have con-
cluded arrangements with British cap
italists for the purchase of the latter's
control of the New Orleans & North
eastern Railroad, the principal sub
sidiary of the Alabama, New Orleans.
Texas E. Pacific Junction Railways
Company, Ltd. of London. The pur-
chase price is s12,500,00O.
The transaction is of particular in
terest in international finance. as it
marks a departure from the methods
adopted by Great Britain in the past
in maintaining foreign exchange rates.
These have included borrowings OF
more than s850,O00,000. gold exports to
this country amounting TO s943,0OO.OOO,
and sales of American securities in
practically unlimited quantities. So
far as the records indicate. the sale
Of the British owned American rail-
road is the first important transaction
where actual ownership has passed
from British to American hands since
the beginning of the war.
Formal transfer Of the property to
the new owners will probably be fol-
lowed by other deals of a similar nat
ure. according to the New York BANK
ers who are interested in plans for
maintaining the Allied exchanges on
reasonable basis.
The securities involved in the change
of control of the New Orleans &
Northeastern are the company's 3d.
$4,000 of general mortgage per
cent bonds. s1,5OO,OOO income mort
GAGE bonds and s5.366.OOO common
s+oct and the British holding COM
nanv's entire holdings of capital stock
Of the Southwestern Construction Com
pany.
Terms of the Sale
Tho terms of the sale provide tnaF
the approximate purchase price Is 10
be annlied against the purchase OF Brit
;sb Government 6 per cent excheduer
bonds due in 1920. An official eireu-
,or estimates that these bonds VIII
show WELD on income of fi4A'ooo'
against an average of fll9'2oo lot 'ne
securities mentioned. q
In addition to the New Orleans q
Northeastern. the Alabama. New Or
leans. Texas g. Pacific Junction nan
WAYS. Ltd. owns the Alabama q vicAS
burg Railway, 143 miles. and the s''AN
burg. Shreveport & Pacific. which, IN
o,ud;no the principal subsidiary. gives
tn,ai mileague of SGT. The primer.
col british parties in the sale spoue
TO be formally ratified are parJn man
beaumont dErlanger. who IS cnalr',a, Il
~ the board; Viscount Grlmstoh' Ine
Hon Edwin c. Ponsonby and JON"
Marley, all Of London. ;,or-
Tho English corporation was moor
norated in London in isol' anu .
tuown in the American field manly pc
canse il owns jointly. with the omen
natl Hamilton & Dayton ana Ine A'a,
hama Great Southern "a subsidiary Oh
.%n Southern). control of the Slnclh-
ua,; New Orleans e. Texas racine.
operator of the Queen q 're'"'
Route.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-11-14
Current

The above rates express the cost of
foreign money in terms of the Ameri-
can dollar. You buy an English pound
sterling for si.75S; the intrinsic par
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-11-14

Bank of Germany.-Berlin, via Lon
don. Nov. 13.-The statement of the
Imperial Bank of Germany, issued No
vember 7, shows the following changes,
in marks.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-11-14
Money and Credit

Call money at the New York STOCK
Exchange ruled at 2lz per cent yes
terday.
The market for time funds on bro
kers' Stock Exchange collateral opened
the week without quotable change IN
rates. The cash loss reported in the
Saturday bank statement was without
apparent influence.
Ruling rates on money yesterday
compared with a year ago, were as
follows:
Yesterday. A year ago.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-11-14

Sub-Treasury.-New York banks
gained from the Sub-Treasury $4,000.
Silver.-Bars in London. 34s pence;
New York, 71s. cents; Mexican dollars,
551s.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-11-14

Gold to Cuba.-Gold coin TO the
amount of 100000 was withdrawn
from the Sub-Treasury yesterday for
shipment TO Cuba.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-11-14
Finance Economics

GARET GARRETT, Editor
WALL STREET OFFICE: - IelephonNe,',
Building 10 Broad ST. hanover ooi'
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-11-14

Bank Exchanges.-The days clear
nos a, New York and other cities:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-11-14

'15- day paper.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-11-14

Paris Bourse.-Psris. New. 49,
Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1916-03-05
MOTOR CARS SOON
WILL HAUL MORE
PEOPLE THAN TRAINS

while we can not Vet clam that
automobiles carry more people than
their two chief competitors ina self
propelled vehicles, namely tue rail
roads and trolley cars. the day viii
come before many years when this
viii he true"
The foregoing prophecy IS made Ivy
A. K. Ersltine, president of the Stude-
baker corporation. who continues,
This prediction is made because Of
the far-reaching and ever-growme
popularity of the automobile. it's ap-
plication to individual uses, It's wide
range Of action, its economy, privacy
charm ana healthlulneSs
'rhe automobile is par excellence
the vehicle Of every man and his fam
ily, and for business as we'll as pleas
ure, He clinss not to the beaten
paths. but traverses the highways and
byways of the country. and goes
wherever he chooses He Increases
the scope of his world enlarees his
knowledge of men ana conditions, and
thereby broadens his experience ana
ability, and becomes happier and
more prosperous citizen.
Railroads and trolley lines do not
afford man such travelling facilities
and pleasures, chiefly because they
follow beaten paths, run on fixed
time schedules, and compel men 20
travel in q body without privacy and
often in discomfort as witness crowd
ed ears. bad air and the unhappy
strap hanger
Within the past decade, the auto
mobile industry. including the allied
industries which furnish steel. alum
mum, brass, leather, hair, glass tex
tiles, rubber. electrical appliances etc,
has developed from almost nothing
to fourth place in the industries OF
America
Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1916-03-05
SUPPLIES CHASSIS
FOR DELIVERY CAR

Announcement comes from Detroit
that the Maxwell Motor company
tlnc.) has decided 10 enter the field
of light delivery using for the pur-
pose the standard Maxwell chassis,
which is furnished complete. includ-
ing coWl, instrument board and cleo
trical equipment, but lacking body,
which the buyer can have designed
and built locally to fit his individual
needs
With the car the company furnishes
scale of dimensions which enable
any body builder to fit exactly the
standard arrangement for attaching
this part to the frame.
The work of attaching is free from
any complication of wiring or pipins.
The chassis comes ready TO drive.
THE company has found the one
satisfactory solution of the light de-
livery problem" declares a Maxwell
official. Light delivery is problem
possible for the laundrymau and the
body, each can greatly facilitate his
problem by having a body built to
carry the especial type of merchan-
disc that he handles. The same holds
true with the butcher, the baker, the
milliner, the grocer and every other
line of business which uses or should
use motor-driyen delivery equipment.
There are good delivery body
builders in every city. TO his own
design any merchant can have built
the type Of body best adapted to his
needs.
I'VE price the chassis at a price less
than our touring car that will more
than offset the cost of the finest type
Of delivery body mounted, pante
and gold lcttered.
More and more the light delivery
car is becoming the leading factor IN
reducing the operating costs of mer-
chants. Department stores all over
the country are standardizing their
delivery problems By reducing the
number of horse drawn vehicles and
heavy trucks, and substituting light I
delivery cars carrying mp to 80
pounds
The matter Of economy makes the
Maxwell especially adaptable TO this
purpose. The electric starter. which .
makes it unnecessary to let the motor .
idle during stops, and the unusually .
low consumption Of fuel charhcteris-
tic of the car are both elements Of .
great importance.
at should also be borne in mind .
that the chassis supplied for this
purpose Is identical i'm every detail
with the one that recently Travelled
more than 10000 miles in California
without motor stop--a feat unique
In the records OF the American Auto
mobile association, which supervised
The feat