davidaulloa/AmericanStories huggingface dataset:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-17
1t Bears Interest at 5 Per
Cent and Will Be
Sold at SO.
THE COLLATERAL Is
ONE-THIRD AMERICAN
Since the War Began We
Have Loaned to Foreign
Countries 81, 600, 100000.

were announced yesterday by Henry
p. DAWSON, Of j. p. Morgan Co.,
who are the syndicate managers. The
notes representing this obligation Will
bear 5 per cent interest II is under
stood that they will be offered to the
public at 80. Beneath them Will be
pledged as collateral $300,000,00O Of Sc
curities approved by the Morgan firm.
These will consist of Sl00,0OO,OOO
stocks and bonds Of American corpo-
rations, SlO0.000.0 900 of securities OF
the Canadian government and of the
Canadian Pacific Railway, and $780,
600. 900 bonds or other obligations Of
these neutral countries: Argentina.
Chill, Norway. Sweden, Switzerland,
Denmark and Holland
The agreement reached between j.
p. Morgan e. Co. and the British au-
thorities provides that the margin of
the collateral above the face value Of
the loan must always remain at 20
per cent. In other words, il the mar
ket value of the collateral should fall,
the depreciation must be made up by
the deposit Of additional securities.
Collateral Is Salable.
A unique feature of the transaction
allows Great Britain the right to sell
at any time securities comprising the
collateral il it is advantageous to do
so. In the event that this is done,
the proceeds are to be used to retire
any portion of the outstanding notes,
with the resulting profits going to
England. The notes are redeemable
on thirty days notice on any day up
to August 81, 1917. at 10l, and there
after up to August 81, 1918, at lOO1s
and accrued interest.
That only part of the collateral be
hind the loan has reached the vaults
of the Morgan firm was indicated in
the statement that the British govern
ment will deposit temporarily with the
Farmers Loan and Trust Company
other Stock Exchange collateral, cash
or both. 1t is expected that the notes
will be listed on the exchange in the
near future.
The syndicate that has been formed
TO underwrite the notes at 80 will ex-
pire on October /, unless sooner ter
minated by the managers. Associated
with J. p. Morgan G. Co. in offering
participation in the syndicate are the
First National Bank. National City
Bank. Harris, Forbes & Co., William A
Read & Co. Brown Brothers Co,
Lee. Higgnson & Co., Kldder, Peabody
e. Co.. j. & W. Seligman & Co.. the
Guaranty Trust Company, the Bankers
Trust Company. the Farmers Loan and
Trust Company. the Central Trust
Company of Illinois. Chicago, and the
Union Trust Company Of Pittsburgh.
Participants in the syndicate do not
have the right TO recall any Of Their
allotments.
Announcement will be made at later
date of the list of the securities that
will form the collateral for the loan,
but it is not likely that the amounts
of the issues will be given. The bank
crs declared yesterday that they thom-
selves were yet ignorant of the detailed
character Of the securities which viii
he back of the loan, or how much other
Stock Exchange collateral will have 10
be deposited temporarily, pending the
arrival of the permanent collateral
from England.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-17

The above rates express the cost OF
foreign money in terms of the Amer
lean dollar. You buy an English pound
sterling for AIS 1916, the intrinsic
parity is s4.s6ss 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.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-17
EUROPE.

British two-year per cent
loan .............'........ $3.50. ZOO. 900
Anglo-French per cent FIVE
year bonds ................ SOC. 600. 600
French Government collateral
loan represented by > per
cent three-year notes Of
American Foreign Securities
Company ................. 1oo. 900. 900
French one-year per cent
treasury notes ~. 100000
French one-year ) per cent
treasury bonds nm. 10000. 900
French commercial credit .... 2o.ooo.o 900
French collateral loan made
through Rothschids and Sc
cured by Pennsylvania Rail
road and 81. Paul Railroad
bonds ..................... 100000 900
British banking credit for six
months at az per cent. re-
newed for twelve months at
5 per cent ................ $4,000. 900
French one-year acceptance
credit NEUTRALITY-SUSPICIOUS.. $1,000 900
Additional acceptance credit. $4,000 900
Russian Government
Credit, "a per cent three-year. " $4,000, 900
Aeceptanees ................ $4,000. 900
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-17
Our Foreign Loans.

The completion Of the s25O,oOO,Oo)
British loan brings the total foreign
borrowings in this market since tn
outbreak Of the European war up to ap-
proximately sl,6OO,OOO,0O classified as
follows: Europe, $3.50, 100000; Can
ada and Newfoundland, s235,OOO,OOO,
and Latin America, 05.000,0OO. Of the
huge sum advanced to European coun-
tries. the loans TO neutrals amount 10
only $35 100000. The list Of foreign
government loans and banking credits
for the two-year period OF the war Is
sub-divided herewith:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-17
Money

Money on call loaned on the Stock
Exchange yesterday as high as ~
per cent and as low as "a per cent.
Mosf Of the loans were made at 2h per
cent.
Bankers here predict somewhat firm
er money rates as result of the new
$3.50 900, 900 British loan. In London
the trend Of the money market is un-
mistaknbly upward. Bankers there are
naturally anxious to MAINTAIN the
proper relations between the levels OF
the two markets. The problem is 10
keen rates in London above rates IN
New York so as TO prevent the with
drawal of the large American banking
balances now maintained on the other
side. Rates on time loans on Stock
Exchange collateral were unchanged
Yesterday. Most of the business repre-
sented renewals.
The commercial paper market sim
maintains its steady and dull tone.
Most of the good paper is quoted AT
per cent, although especially attract
i've business moves Mt 32i per cent.
Federal Reserve Discounts Ofhclai
discount rates in each OF the twelve
Federal Reserve districts are:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-17
South African Trade.

South African imports for April la'' s go
valued at 6. 630.so3 and exports ,no' -, 49,.
ing goid) at fl.sl9.6ss. The gross sss<s 49,.
for the month was sii7.e9i.--London i'''-
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-17
DIVIDEND NOTICES.
BISCUIT COMPANY

NATIONAL BISCUIT COMPANl
7Ath THE Boafi o. Dirsrior "a"
pprrrporo decsred the sescnu -'osfiA CO.
secuiive quarterly dlyiden.dc''
uisiokND AMI inr.e-ausrtes tlt.l pef e''
on the Pfeieued Capital stock Of ne Company. fe'
August 1lst. 1915, to stockholders oi record az ~
close OF business August lin. 1919. iurnei ooo.
will no, ,, closed ?. Z. BUGBEE. TesssfH
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-17
Fractional Lot Service

Orders executed in any amount OF
Stocks and Bonds for cash.
We carry 10, 20 or 80 share lots OF
seasoned. safe stocks. dealt in on any
of the Exchanges. on margin.
On the Consolidated Exchange all
our orders, reports and quotations are
transmitted by signal, afording in
Simultaneous service.
Certified accountants statement OF
audit of our books published quar-
terly.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-17

Great Britain's borrowing in this
country, enormous as it seems to us,
bears so small a proportion to thetotal
amount so far borrowed on account
of the war that to the English finan-
ciers it must seem almost unimpor-
tant. The aggregate of Great Brit
aims war borrowing since the begin
ming of the war is above fourteen
thousand million dollars. The total
of her borrowing here, debiting her
with the whole of the Anglo-French
loan and adding $50,000,000 for open
bank credit, is only 100000, 900, and
that is less than 6 per cent of the
aggregate Indebtedness so far in
Cured on account of the war.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-17

For some measure OF our progress
in the way of international thinking
one has only to contrast the matter
of-fact manner in which this new
British loan forS S250,0O0,000 has
been placed with the stress and eX-
citement which accompanied the
placing and merchandising of the
S5O0.OOO,OOO Anglo-French loan a
little more than a year ago. We have
been growing up. A loan Of $780,
100000 on the joint note of England
and France was an incredible event.
Placing a loan of half as much at
this time on the secured note OF
Great Britain alone is but an impor-
tant incident, and the underwriting,
instead of having to be solicited
broadcast, and made accessible even
to the public, is in this case re-
stricted.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-17
Finance Economics

GARET GARRETT. Editor
WALL STREET OFFICE Telephone,
Mills Building Is Broad St Hanover ooi4'
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-17
international Mercantile
Marine Company

issued under the Agreement dated Sep.
fember 81. 1915. between the under.
signed Committee and Holders Of said
.to..l ta.ontnU parifea fharefo.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-17

LATIN-AMERICA.
Argentine government
One two and three-year per
cent notes .............. si5.ooo.ooo
Five.vear per cent bonds So. $4,000. 900
Six-months per cent loan. $1,000
Onc.vear ; per cent notes ra,5oo.ooo
One-vear ) ner cent notes...... $1,000. 900
Government of Chill. 5000, 900
Governmont of Bolivia....... 1000. 900
Republic Of Panama
per cent thirty-year bonds. 100000
Uruguay per cent notes. o4o.5Io
Comision Regulsdora tagency
OF Yucatan government
Credit ON sissl hemp. 100000
Miscellaneous ................ 5.353.s25
Total Istin-Amcrica. ....... Sos. 900 900
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-17

% Holders Of Certificates Of DEPOSIT 10,
Preferred stock of
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-17

cr.di, On Russian Asiatic Bank. $4,000. 900
Treasury notes. per cent. one
p.;vs,. bankiny credit. 1000. 900
''a i've CON, on. ye.r'.''..''... $4,000. 900
German Government
Notes. per cent. nine
months ................... 'V'oo"'o'"
80 Ali ,eI7 ...,... 10000. 900
p.nEino cyodi,. (estimatedj 5000. 900
Swiss Government one. three
no,e. ''......'....... 5000. 900
Greek Government loan nego-
tiated with banks ........... T,ooo'ooo
Swedish Government 6 per cent
two-year notes ...."....... o'Voo'Voo
Norwegian Government
Six per cent seven-yesr bonds. o'ooo'oOo
Six per cent two and three
year notes ...............-. S'OVo'V""
" inc credits .,9............. 27.ooo. 600
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-17
Bank Exchanges. The days clear
ings at New York and other cities;

Sub-Treasury. - New York banks
gained from the Sub Treasury s77i,34l.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-17
Maturity in days.

discount rates in each of the twelve
Federal Reserve districts are:
The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1916-07-30
GREATEST THING YET"
IS WAY EXPOSURE IS
VIEWED BY MANY

Like bombshell The Journals ex-
posure of sanitary conditions dropped
into Pensacola Saturday morning.
1t was the big story of the year,
and the sole topic of conversation.
Some Protest-There's a Reason.
As was expected, the publication of
the case of The People VS.. The City
Officials, was protested by num-
Der of people, whose interests are
affiliated with them.
The Truth.
The vast majority, while naturally
dumbfounded at the revelation, were
delighted with The Journals stand
when they ascertained that the facts
had actually been underestimated.
at is the greatest thing that The
Journal ever did," was the way one
man expressed it, telephoning his
congratulations.
81 didn't dream there was such a
state of affairs" said another promi-
nent citizen
''That's the reason why the story
was printed" was the reply.
You're right. if l didn't know it,
chances are nobody else knew it
isn't that so? You bet the people
will stop it!'
Avoids Greater Evil.
Another man thought the pubhca-
ton of the facts might hurt the
town because of the undesirable adj
vertising.
"But suppose an epidemic had
started there-ssy infantile paralysis,
or anything" he was asked, "what
about that undesirable advertising %
"Well, must confess that does put
a different face on the matter. !
hadn't thought of that at all. Then
your idea was"
'To avoid any chance of an cpl
demic."
Many people visited the Alicante
street dump yesterday to see fol-
themselves. They went doubling
they came away convinced.
A Real Cleanup.
The city authorities are working
hard to correct the evil and preven
repetition and when these same PEG
pie visit the spot again, they will SCI
quite a different place and smell
nothing whatever-and they will b.
prouder of their city than eve
before.
The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1916-07-30
Sanitary Expose Leads
to Betterment of City

(continued Broom Paee one.l
The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1916-07-30
WAR WILL BE
WON BY ALLIES
(Continued From Page One.l


times increasing the former product
ion.
'The end of the second year of
the war was marked by the results
of this patriotic upheaval among the
Allies which found expression in a
successful adoption of the offensive
by their armies, now abundantly sup
piled with war material and power
full artillery.
''In complete unity with al the
Allies, the Russian army a month
and half ago dealt a destructive
blow from its left flank, and from
that time has uninterruptedly con-
tinued one blow after anoSler
against the Austro-Hungarians In
the same way, our Caucasus troops
are persisting in driving the Turks
from supposedly impregnable heights
in Asia Minor.
"Thus at the beginning of the third
year of the war, strategic conditions
which have now become favorable
for the Allies on all the fronts, more
than ever give ground for the con-
viction that complete victory will be
gained over the enemy"
The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1916-07-30
STATE MILITIA IS
NOT SUBJECT TO
DUTY OUTSIDE U. S.
BY ASSOCIATED PRESS.

Washington, July 29.-Judge Advo-
cate General Crowder, in an exhaus-
tive decision given Secretary Baker
held that state soldiers are not sub
ject to duty outside of the United
States unless and until they are draft
ed by order of the president; that
they are under control Of the fedora
government and not their respective
state governments, and they are en-,
titled to same pensions and privileges
as regulars.
The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1916-07-30
TILLMAN SAYS
TWAS BEST SOUTH
WAS DEFEATED

Washington, July 29.-'T never be-
lieved possible that 1 could do it, but
slowly and by degrees l have come
to think it was best for all concerned
that the South was defeated" said
Senator Stillman, in urging the pass
age of bill dealing with the Airing
ton cemetery. Slavery was a curse
which had been destroyed. I, who
was born in and of the old South, am
glad it has gone never to return"
The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1916-07-30
GULFPORT CADETS
EXPECT RETURN
TO PENSACOLA

The cadets of the Gulfcoast Mill
tary Academy will probably return
to Pensacola on their annual cruise
next summer, according to letter
from Col. J. C. Hardy and Colonel r.
B. McGahee, heads of the school.
In letter they say that the boys
were dshghted with the treatment
they received while in this city.
The letter ssys IN part: eve are
sure that their impression of Pensa-
cola and It's people viii cause them
to demand that we go to that city
on our cruise next year"
The annual cruise this year came
to Pensacola for the first time, about
forty cadets of the academy, which
he's both the army and navy
branches, arrived here on July /, on
the schooner yachts Ell Roy and Mer-
cedes Boltar. The boys took part in
the preparedness parade, and in the
regatta.
! The schooners attempted to leave
ON the morning of July 5, but when
reaching the gulf put back on &C.
count of the threatening weather.
Both vessels were beached near the
flying school, and the cadets were
temporarily quartered in Pensacola
until communication could be estab-
lished with the outside world.
Many of the cadets aboard the
boats stated that they would like tc
return to Pensacola, and the present
letter from the heads of the schoo
practically assures return visit.
The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1916-07-30

them near the garbage heap south of
the cemetery"
Exposure a Blessing.
The ''block-of-gar age-and-stuf, !" as
one man referred to the dump, was
viewed by many.
"a conservative description, if any
thing" said one man, abiding to The
Journals account. "I can't see what
the city was thinking about in per
hitting this sort of thing. They must
have known when it was found out
there would be trouble. While l am
friendly to every man on the COM
The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1916-07-30

Continued From Page One-)
line to the expose by The Journal of
conditions existing at the city's dump
pile, south of the cemetery.
Grave Yard Flies.
Eyes, I'm cleaning up these weeds"
said man as he wiped his brow and
leaned upon the scythe, "and am doing
the work myself because / was un-
able to get a suitable negro to cut
these weeds. I want to get these
weeds out of the way before some of
those graveyard flies come up this
way. They are going to start burn
ing the mass of garbage today now
that The Journal has suggested that
the use of wood might persuade the
garbage to burn, and /, for one, don't
want the graveyard flies to get any
foothold in my lot after the fire Gusts
The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1916-07-30

resulting from criticism. He ans
wered the criticism that men were
moved in day coaches by saying that
men expecting sleepers was new
idea in campaigning. He said men
were given plenty food and if not
properly conserved it was their own
fault if it ran out. They were furn-
The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1916-07-30
CREW OF .APPAM'
MAY BE NTERNED
UNTIL WAR ENDS

Washington, July 29.-State depart
ment officials said informally that the
Appam prize crew would probably be
interned for the war as a result OF
the United States court decision
giving the vessel to British owners.
Diplomatic exchanges regarding the
,~ssel probably await the final court
decision.
The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1916-07-30
MILITIAMEN WELL
FED En- ROUTE TO
MEXICAN BORDER
nv ASSOCIATED PRESS

Washington, July 29.-Militiamen
were we'll fed en- route to the border
and their trains were not unreasona-
bly, sidetracked, Secretary Baker told
the house in response to an inquiry
The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1916-07-30
SONG SERVICE At
THE KNOX CHURCH

This evenings service at the Knox
Presbyterian church, corner of
Thirteenth avenue and Blount street,
gives promise of being exceedingly
interesting. The choir will offer a
song service the first part of the
meeting, after which the pastor, Rev.
Mr.. Philips, will read the, Scripture
lesson and preach on the subject,
''Why the World Hates a Christian. -
The usual morning services will
be held at IL o'clock today, to which
the general public is cordially in
vited. Sunday school at $50 o'clock
as usual.
The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1916-07-30

mission, do not commend any such
tactics. Really, I'm glad that things
were found out and the public in
formed. for now action of some sort
will be taken"
The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1916-07-30

ished money to purchase coffee whens
there was no kitchen on the train.
"Solicitous governors who are can
didates again seem to have forgotten
the regulars from which no COM
plants came" he concluded.
The day book. [volume] (Chicago, Ill.) 1911-1917, 1916-03-07

citizenship and every mother should
demand that the family doctor reg
lister Immediately the birth of her
child.
The day book. [volume] (Chicago, Ill.) 1911-1917, 1916-03-07

BIRTH REGISTRATIoN.-One of
the aims of National Better Baby
Week" will be to impress upon pa
rents the importance of birth regis
tFation.
There are laws and ordinances
a-plenty demanding the registration
of all births, but physicians as a gen
eral rule are apathetic regarding
them and the mother says:
why should 1 trouble to register
my baby VIII it make it any health
ier?" ..-..
The answer to the latter it cit
WilP'-by giving health officers an
opportunity to check up on the
Child's health.
And here are reasons why it is
worth while for every mother to reg
lister her baby's birth:
1t is the child sprOof of citizenship.
1t will be needed, perhaps, when it
comes time for him to enter school
or when he seeks to go to work.
1t may be needed later in regard to
life insurance or the settling of eS-
tates or for proof in matter of inner
itances. Lack Of such a record might
prove a bar to a civil service position
or seriously hinder the settling of
some point of law. There are dozens
of such instances in everyday life
where a record of ones birth will
prove of value.
Without such vital statistics the
work Of state and municipal health
officers is seriously hampered.
Birth. registration is badge of
The day book. [volume] (Chicago, Ill.) 1911-1917, 1916-03-07
WE NEVER HEARD

An orator refers to the days of an
Gent Greece as ''the painless past "
(It seems a shame to let a high
sounding phrase like that go I'M
used.)
The day book. [volume] (Chicago, Ill.) 1911-1917, 1916-03-07

CECIL TELLS HOW.-Lord Rob
ert Cecil, minister of war trade, gives
us a nice muddy view of the status
of armed merchantmen in this eX-
CeTpt from the British instructions:
Another passage makes it perfect
ly clear that merchant vessels must
not attack unless a submarine shows
Enthusiastically hostile intentions"
Seems that it's pretty much a case
of mind-reading. The submarine
commander has got to read the mer-
chantman's mind to learn if he's arm
ed and a fighter The merchantmen
captain has got to read the subma-
rine's mind to learn if he's hostile or
only out for a jolly sail. You can pic
tUre an armed British captain study
ing a German to see if he's hostile,
can't you?
The Richmond Virginian. (Richmond, Va.) 1910-1920, 1916-04-27
METHODIST WOMEN
HEAR MRS. FLANAGAN.

At tie regular monthly meeting ot
the Association OF Methodist Women
for Social Service held yesterday at
ternoon in Centenary Church, Mrs. Roy
X. Flanagan made the principal talk.
She outlined the work OF the Juvenile
Protective Association. OF which she
is secretary, and also spoke very in
terestinRly of the Juvenile Court, Mrs.
Flanagan made an appeal to the wom-
en- present at the meeting to lend
their aid and support to this work.
so that by their cooperation advance
mont in this line can be made.
Mrs r. T. Potts, conference score
tary for social service made an ad-
dress on the aims OF the Methodist
womens Association, and Mrs. II. a.
Michaels conducted a quiz on Deepen
dent and Delinquent Children"
The committee appointed to attend
the Council Of Social Workers made
their report. in which they recommend
ed the establishment of the proposed
state farm and censorship for mo-
ton pictures.
Mrs. r. A. Michaels is president OF
the association. and Mrs. James A.
Richardson, secretary.