davidaulloa/AmericanStories huggingface dataset:
The Bridgeport evening farmer., 1916-06-17
of Finance

compared with the ten-year average of 89O.
 AppIes-June forecast, 72,2OO,0OO barrels; production last year. final es- timate 76,67O,OOO barrels.
 Prices-The first price given below is the average on June 1 this year, and the second, the average on June last year. Wheat, 1000 and 131. 5 cents per bushel. Corn, TAI and 77.9 cents. Oats, 42.1 and 51.3 cents. Po- totoes. 98.8 and 5O.S cents. Hay. S12.50 and $11.96 per ton. Cotton, 12.2 and 8.6 cents per pound. Eggs, 19.o and 16.6 cents Der dozen.
The Bridgeport evening farmer., 1916-06-17

Food rioting was reported from Rotterdam.
The Bridgeport evening farmer., 1916-06-17
New York Stock
 Exchange Quotations

Reported over the private wires of T. L. Watson & Co., Bankers and Brokers. Corner Main and John Sts., Bridgeport. Conn. Members Of New York Stock Exchange.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-19
RUSSIA AGAIN SEEKS
TO ARRANGE LOAN
Difference Over Rate Possible
Cause of a Hitch

Russia Is again seeking a loan In this
market. The conversations now going
on follow the failure a few weeks ago
Of negotiations between the Russian
government and New York banking
group, in which the Guaranty Trust
Company and the National City Bank
were interested, TO agree on the terms
Of a s50,000,000 loan similar to the
one that was placed here last June.
This financing provided for possible
profit to the holders of the certificates
and 10 Russia IL az, or before, the
maturity Of the loan the dollar value
of the ruble should rise above 80 1-3
cents.
The new loan, interested bankers
said yesterday, has not reached the
stage where any of the terms may be
yet announced. 1t was stated, how
ever. that if made it will be nearer
$4,000, 900 than 800, 100000, as report
ed in some banking circles. As to the
cost of the loan to Russia, it will prob
ably be between 6 and per cent. Fail
ure to agree on this point may be the
cause of hitch.
Considerable mystery has surround
ed the abandonment of the last Rus
sian loan negotiations. Inquiries among
the bankers who participated in the eff
forts to reach an agreement elected the
general response that the interested
parties were unable TO agree on the
terms. A banker, having an intimate
knowledge Of Russian Affairs, said yes
terday that another factor that was an
influence was the indisposition at the
last minute on the part Of Russia to
enter into another loan backed by ruble
collateral.
The loan now under discussion would
probably be q direct obligation Of the
Russian government Whether an ar
rangement Of this character would meet
with success is q matter Of doubt with
many bankers. The point was made
that II 1t was necessary for Great Brit
ain TO offer high class collateral for
security of loan how could Russia
sell its notes or bonds here without
collateral.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-19
WHEAT JUMPS;
COTTON EXCITED
Both Staples Sell at High
est Prices Since War in
Europe Began

Wheat and cotton prices rose to rec
ord levels in American markets yes
terday amid unusual scenes OF specu-
lative commotion on the leading prod
uco exchanges. Both commodities
sold at the highest quotations reached
since the war in Europe began.
Excited buying Of cotton was prompt
ed by fears Of the crop being damaged
By the tropical storm which struck
Alabama early in the day.
Opening transactions both here and
at New Orleans resulted IN the most
sensational advance this season, which
has been a most extraordinary one In
the cotton market Prices reached
were the highest since the big bull
deal engineered by James A. Patten
in 1910, and, with that exception, since
1872, when the average was in the
nsighborhood Of 2S cents.
January contracts sold at 1878, or
moro than s2.75 a bale above Tues
days closing price, while cotton for
delivery next July sold up to the 1s-
cent level. This was within 1 cent Of
the highest price established during
the Patten deal
Shorts were badly squeezed" as
large operators on the bull side Of the
market forced the buying by bidding
for large blocks Of December and jan
uary cotton.
Total transactions on the local ex-
change were estimated at 100000 bales,
the largest days trading so far this
year.
Wheat quotations in the Chicago
market rose above every previous rec
ord back to 1908, when Joseph Letter,
fresh from college, tried to corner the
worlds supply. December, the active
future, advanced 5 cents bushel on
top of It's 7-ccnt rise the day before,
touching s1.eS. 1t closed at s1.66 a
bushel.
Foreigners were credited with buying
wheat heavily for future delivery, in
addition to purchasing large quantities
for immediate shipment. Unfavorable
, weather for thrashing In Canada and
reports Of drouth in Argentina slim
uleted speculative buying for the rise.
Prices for best grades of -four at
Minneapolis were advanced 20 cents a
barrel as result of the continued rise
in wheat prices. Fancy patents were
clears, bakers grades, remained I'M
changed
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-19
Money and Creoit

Call money at the New York Stock
Exchange was slightly easier, although
the undertone continued firm as re-
suit Of further calling OF loans by
some Wall Street institutions. Most
of the loans were placed at 8 per cent,
compared with a high Of on Tuesday
and a rate of 2% per cent a~week ago.
One Of tho reasons for the stiffening
Of the rates In the past day or 80 has
been the movement currency to the In
terror, partly through direct shipments
and partly through the inter-district
clearings Of the Federal Reserve banks.
Bankers, however, do not look for any
pronounced rise in rates in view Of the
resumption Of British gold imports, an
other 100000 coming in yesterday,
making s10,50O,O0 so far this week.
The situation in the market for time
funds on brokers' stock exchange COL
lateral continues unaltered despite the
tendency Of call money. Business Is
light and consists most Of renewals.
Ruling rates on money yesterday
compared with 8 year ago were as fol-
lows;
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-19
Dividends

Illinois CentrAl.-Quarterly dividend OF y
per cent, payable December 70 stock Of rec
ord November 2. increasing the annual divi-
dend rate 20 per cent and placing the
stock on quarterly instead of n semi-annual
basis. Previously dividend has been ut the
rate Of per cent per annum.
American Window Glass Machine.-Divi-
dend Of l2is per cent on the preferred stock.
payable November 3 10 stock OF record Octo-
Der q. Including the present declaration.
dividends for the last year totalled btla per
cent, and reduces dividends in arrear on
this stock to about 40 per cent
Lowell Electric Lighting Corporatlen.--
Regular quarterly dividend Of $3.50 a share.
payable November l 10 stock OF record 0cto-
Der 20.
Pacific Power and Light.-Regular guar
terly dividend OF ~ per cent on the pre-
ferred stock. payable November ] TO stock
of record October 20.
Portland Gas and Coke.-Regular quar-
terly dividend OF IN per cent on the pre-
ferrcd stock. payable November i 10 stock
OF record October 20.
Cities Ssrviee.-Resulsr monthly div-
dends OF y Of | per cent on the common
and preferred stocks; also an extra dividend
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-19
Another Postponement

Stockholders OF the American Loco
motive Company at the adjourned an
nual meeting yesterday voted for an
other postponement until 4 o'clock to-
day, owing to the outspoken objections
Of an independent group concerning the
manner Of counting proxies. The OPP
position to the present management
was led by Merle Middleton and Ernest
z. Baldwin, who have been nominated
for places on the board Of directors.
One Of the specific charges against
the methods OF the company's tellers
was that the latter had refused to
count with the independent proxies
$500 shares OF stock voted by Horn
blower & Weeks and 800 shares
voted by F. B. Keech & Co. The de-
fence set forth by the company was
that many OF these proxies had pre-
viously been received by 1t. and in
other cases complaint was made that
the signatures didn't look right
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-19
Neu's Digest
Foreign
I.nndnn Stock Mark

London Stock Market-London, DC,
tober 1S.-The stock market was dull
and irregular to-day. Gilt edged shares
droped from lack of support, and
Greek bonds and Rumanian oil stocks
were weak, while Brazilian fractions
and rubber and mining shares were
frmer American securities we're I'M
interesting and closed dull.
The sales of exchequer bon's and
Treasury bills last week amounted to
G32 100000. Reports that anither
Allied loan is being arranged in
America caused little surprise have
in view of the large purchases IT
bonds and bills being made.
Money was in decreased supply and
discount rates were steady. Money,
Az per cent; discount rates, short and
three month bills, 5lH@5ts per cent
Gold premium at Lisbon, 62.
Paris Bourse-Paris, October 3D.
Trading was inactive on the Bourse
to-day. Three per cent rentes, 81
francs 40 confines for cash; ex-
change on London, q francs, Sls
centimes; five per cent loan, 80 francs.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-19

GOLD IMPORTS FROM
CANADA CONTINUE
J. p. Morgan & Co. Receive An.
other Shipment of $5,000,000

Another s5,O00,0oO in British gold,
making s10,50O,000 so far this week, ar
rived from Ottawa yesterday and was
deposited at the Assay Office for the
account Of ]. P. Morgan & Co.
Gold imports since May IL. the be-
ginning of the current movement, now
total sSl9,5O0,0Oo. Most Of the metal
has come from Canada, where the
British government has established
special reserve. The supply at Ottawa
has been maintained mainly by the ar
rivals of virgin metal shipped direct
to Halifax from the mines of British
South Africa Practically all OF the
gold produced in that district has been
going to Canada for nearly year
This has saved the expense Of shipment
to London and thence to America, and.
moreover, has reduced the risk. Some
gold has come from Australia, but the
amount is not large. Another source
Of supply has been Russian gold
shipped across the Pacific to Van
couver and deposited at Ottawa to the
account of the British.
The possibility Of gold exports to
South America is suggested, owing to
the favorable position Of Argentina
and Brazil in the international trade
situation. Excessive freight and in
surance rates have so far prevented
gold from moving in that direction.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-19
Wednesday, October rs, 1915.

Thrift Is not an irresistible virtue
at any time, as the keepers Of its
precepts have known always. But
in a time Of money initiation, such as
now, when gold itself in some coun-
tries is at discount, even the theory
of saving is put upon the defensive.
There Is an obvious element Of con-
tradiction in talking at the same
time Of the necessity Of saving dol
lars and of the decline in the pur-
chasing power Of money. If 1t Is
true that money is depreciating In
value. then the dollar one lays aside
will buy less at some future time
than it will buy at once. How much
less that will be no one can say.
There is really something to be said
for the unthinking way Of people
with cheap money. They spend It.
They spend it extravagantly, Of
course, but at least they are rid Of it,
and if money is falling in value the
only way to get its value is to ex-
change it for goods as rapidly as pos
sible. The dollar that was saved two
years ago will buy one-quarter to
one-third less than one could have
had in exchange for 1t at ths>time it
was saved.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-19
The Dollar in Foreign Exchange

London sight drafts, which have
been pegged at s475% for several
weeks, declined to s4.75 ole yesterday
in the face Of the arrival Of another
100000 British gold from Canada.
At this level sterling rates were the
lowest In q month or moro.
While Russian rubles were slightly
improved, the recovery was not impress
sive. Current weakness in rubles Is
interesting in view Of the unsuccessful
efforts put forth by Russian govern
ment representatives to obtain credit
accommodations In this market.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-19

The whole world Is spending
money In a very reckless manner.
That part Of 1t which Is at war buys
at any price because its necessities
are imperative. 1t partly invents the
money to buy with and partly re-
leases its gold IN desperate spirit,
because goods are vital and gold Is
worthless except as it can be ex-
changed for food and materials and
high explosives Money is the stuff
in which goods are priced, and when
you increase the supply Of money
faster than the supply Of goods,
prices are bound to rise. In a way
of speaking, money is cheaper than
goods, so when it comes to the ex-
change, goods rise in price. If you
said that money declined in value it
would mean the same thing, only for
purposes Of convenience the fiction is
that money is stationary and COM
modities fluctuate. This situation
puts a tremendous premium on spec
ulation. Almost anything that one
buys may presently be resold at a
higher price. So spectators buy
wheat and cotton and stocks and
other things to rise.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-19
Chinese Railroad Wants Cars

The Kwang Yueh Hum Railway, OF
China, is seeking to place contracts for
seventy gondola cars and ten passen-
ger cars with American manufacturers.
Some large orders for cars. locomo-
tives. rails and bridges for Chinese
railways are In preparation. but it will
probably be some months before actual
specifications are issued.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-19
=, . p.r cen. in common stock O

., r.r cent in common stock %
common stock. all pa able Decemoc
stork of record November 10. ,,
Kellogg switehbOard.-Ressi!n o' 81
dividsnd Of . per cent. payaole V''S
10 stock of record October p. 90.
indianapolis TelephOne.-Resu.Af
~ dividend Of - per cent on - !
ferred stock. payable November "
Of record October ~, ,ss.,s -
Quaker Oil and Gas. VI
per cent. payable forthwith. IA
dividend OF 1000 FER cent vas qua,
National Refining. Regular -
diy;dend Of IL per cent and az eHr '
liz per cent on the common sioiSS' e
November IS TO stock OF record ="
Der !. ,.,,..4 of
cent. payable November ~ "
record November s.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-19
Japanese Rice Crop

The Department Of Agriculture and
Commerce Of Japan estimates tho prob
able rice crop for 1915 at 65.61l,77i
koku (23l, 1872, 26s bushels), showing a
decrease Of Si2,s19 koku G,sOl 1913
bushels), compared with 1915, but an
increase Of s,BOi ,279 koku (1792s,54s
bushels). compared with the average
crop since 1905. The figures Of yearly
production since that date are:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-19
Chesapeake & Ohio.-Chesapeake &

Ohio, on a turnover of 1900 shares,
rose a point, to 69@s. The road has not
been paying dividends since December,
1914. It's earnings at the present are
running at the rate of 1895 per cent on
the s62 1872, 900 common stock outstand-
ing. against 4.425 per cent actually
earned in 1915. Chesapeake has bene-
fitted largely from the heavy tonnage of
coal carried over it's lines. In July
the company carried 2,276,S7S tons, an
increase of 22O,9O3 over the correspond
ing month of 1915.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-19
Would Retain Steamship Llnes-wash-

ington, Oct. 1s-The New Haven KaiI'
road and the Boston and Providence
chambers of commerce and approx
mately eighty large New England manu-
featuring concerns fled briefs with the
Interstate Commerce Commission to-
day urging that the New Haven be per,
mitted 10 continue stock ownership and
service of the New England Steamship
Company and other Long Island Sound
steamer lines, on the ground that the
transportation needs OF New England
Justify the operation, despite the pro-
visions of the Panama Canal act, which
prohibits joint ownership Of competing
rail and water lines.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-19

The above rates express the cost Of
foreign money In terms Of the Amen-
can dollar. You buy an English pound
sterling for s4.7bh; the intrinsic par
ity is 34sG% per pound. Thus. you
say either that pounds nrs at q dis
count or that dollars arc at pre-
MUM, which is owing TO the fact that
in England the demand for dollars
with which 10 settle accounts In this
country IL greater than tho demand in
this country for pounds with which to
settle accounts in England.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-19

the case before, and, Of course, much
higher than the average price Of the
contracts worked off in the last
twelve months. The application Of
this fact to future earnings is un-
fortunately very dazzling.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-19
New York


est price ever recorded for member
shin on the New York Coffee and Sugar
Exchange was paid yesterday, when a
seat was sold for $4,000, an advance OF
$500 over the last previous sale.
More Bank Directors Resign.-Three
directors of the Metropolitan Trust
Company have resigned on account OF
the CLAYTON act. They are Anthony
A. Raven, John T. Terry and Henry
w. De Forrest. Cornelius Eldert and
John T. Terry, jr., have been elected
to fill two of the vacancies. .Reslgna-
tions from the Guaranty Trust Com
pany board include those of Gates w.
McGarrah, Albert H. Wiggin, Valen-
tine P. Snyder and John D. Ryan.
Directors of the Hanover National
Bank who have resigned are j. W.
Clark, Ernest lselin, Arthur Curtiss
James, w. De Lancey Kountze, John j
Riker, William Rockefeller and W.
Emlen Roosevelt.
August Belmont resigned as direc-
tor OF the National Park Bank on
account of the new law and was sue
ceeded by Joseph D. Oliver, president
CT the Oliver Chilled Plow Company
Samuel H. Miller and Edward K.
Tinker, vice presidents Of the Chase
National Bank, have been elected direc--
tors to succeed Francis L. Hine and
George f. Baker, jr.
Equitable Trust Co.-George l.. lie
Blanc, manager of the foreign ex-
change department Of the Equitable
Trust Company for the past three
years, has been elected a yice-presi-
dent Of that institution. (
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-19
Other Cities

Boston Coppers-Boston, Oct 10
Strength, measured largely by frac-
tionai advances, marked copper share
trading to-day. Sales were small. At
the close the tendency was higher.
Corner Range, 681s; Allouez, 60;
Cranky, 90i2; Old Dominion, 70.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-19
JOHN d CALDW III. seefet.fy.
------------- - a. -.r.rn Ra.luas
DIVIDEND NOTICES.

A. a regular meeting % the Board
r.ctors. held on the 10Th day q ociooef, y
an initial quarterly dividend Of W, W
clared on the preferred stock q me 80, "
ton. payable or November let 70 10y s
holders OF record az the close Ok oa''n'''
TUESDAY, Octcoer 18th. isl9.. r...,-
A. NENDELSON. secre'il
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-19

Pittsburgh. Oct. 1s.-Directors
Of the Crucible Steel Company, after n
special meeting, which lasted more
than two hours, to-day announced a
special dividend of per cent pay
able November 10. on account OF the
deferred dividends due on the pre-
ferred stock Action on the regular
quarterly dividend will be taken at the
meeting next month.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-19
THE uLUSIONS
OF PROSPERITY
A Discussion of the Grave
Dangers that Lurk in
Its Footsteps

s. W. Straus, . we'll known invest
ment banker and apostle Of thrift, re-
turns from a journey through the West
with some pronounced reservations on
the subject Of war prosperity. He fears
a labor famine:
Scarcity Of labor for all purposes Is one
OF tho most serious problems confronting
the United States at the present time.
The greatest difficulty II experienced by
the farmers In the West In obtaining suf-
fcient help to gather the crops. Many
manufacturers in the Middle West are hnd-
ing that. with increased wages, many
workers are content to labor only five days
week and draw about their previous
scale with less work. II our business ac-
tivity continues 10 increase II Is hard TO
predict where the necessary men are TO
come from. When tho war ends there Is
little doubt that the various belligerent
countries will put an embargo on emigra-
ton, so that we cannot look TO Europe for
a supply Of labor for ut least many years
TO come.
He Is made uneasy by the evidence
Of popular eItravagancs with cheap
money:
with wages high and commodities high.
the purchasing power of the dollar re-
duced and the abundance Of money In cir
culation, people generally seem TO be con-
Quoting themselves into false standards OF
living. II there Is any material check TO
our present prosperity before or after the
close Of the war millions Of Americans are
going TO have a rude awakening and must
reduce their modes Of living TO ssner
basis.
But even more he fears the effects
of tho violent readjustment which Is
reasonably certain to accompany the
worlds return to q peace basis:
IL Is my belief that words Of warning
should be preached by employers to ern-
poyes who are now receiving wages they
never dreamed OF before. The enormous
debt of Europe must be paid in part by
America When the time comes that we
can no longer export our goods at war
prices. when drain upon our gold sup
ply begins and we encounter a renewed
foreign competition. stirred TO extreme
lengths by the need of a rapid recovery
from the war. the strength OF the United
States will undergo a severe test
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-19

Silver.-Bars in London, 32h pence;
here in New York, GA cents; Mexican
dollars. 52A 55l..
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-19

Commercial Paper. - Offerings are
scarce and the volume moving Is, in
consequence, very light Prime regular
maturities are unchanged at 31sG3&
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, 1916-10-19
FINANCIAL MEETINGS.
CHICAGO. SAINT PAUL. MINNEAro
AND OMAHA RAILWAY co.

NOTICE or ANNUAL MEETING
The Annual Meeting Of the Soekhss
81 tho Chicago, Saint Paul Alnnea;'
and Omaha Railway Company will - 7
A. the Office Of the company In ths CIV
Hudson, Wisconsin, o. Friday. October
1915. at nine clock A. N. for the slsel
OF directors and the transaction OF o
other business as may come before
meeting ~.
Transfer books will oe closed on n
day. September ~. 1915, a, the clos
business on that day, and VIII be reo5''
on Saturday. October 81, 1919
Dated. September I. 1915.
JAMES T. CLARK, Presids,!
JOHN p. Caldwell. secretary.
Chicago and North " stern RAILWAY
NOTICE OF ANNUAL MEEIlNo
THE Annual Meeting - tbs Stockton J
Of the Chicago and North western -
way Company Will - held AZ ne ono'
thr company, 226 west jackson boli,, =
in the city OF Chicago. Illinois, OF Ih1
dsy. October 10. 1915. ~ eleven 90
A. NJ. for the election of DIRECTOR :
the transaction Of such other bss.hs"
NAV come before said meeting. -.
transfer books will b. closed on NO.
September Is. 1916. az the close OK ~ !
on that day, and will be feopehec '. .
dsy. October 20. 1915.
Dated September !. 1918
RICHARD r. ASHTON. Prese'n-
JOHN d. Caldwell. Secretary
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-19

Below is given the current exchange
value OF foreign money in dollars and
cents, together with the intrinsic gold
parity, as calculated by tho United
States Mint:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-19

Sub-Treasury.-New York banks lost
to the Sub-Treasury $3.50 900.