davidaulloa/AmericanStories huggingface dataset:
The public ledger. [volume] (Maysville, Ky.) 1913-1968, 1916-09-25

Nineteen thousand employees of the
General Electric Company last month
received extra compensation amount
ing to more than 100000 as evidence
OF the appreciation and prosperity OF
tho company,
The public ledger. [volume] (Maysville, Ky.) 1913-1968, 1916-09-25

Time signals sent out from the Gov
ernment radio station at Arlington.
Va. as a rule are received less than
one hundredth of a second later in ey-
cry receiving station In the country.
The public ledger. [volume] (Maysville, Ky.) 1913-1968, 1916-09-25
Chesapeake & Ohio Ry.
Schedule subject to cnanoe Sithoui notice

Schedule effective May 2Sth.
EAST BOUND
No. 8. 9:41 a. m.
No. 6. 1855 a. m.
No 2 l:4O D. IN.
No. 16. $50 .. m.
No. Is. 500 p. n.
No. 4. 1O:48 p. m.
WEST BOUND
No. 10. $50 a. m.
No. s. 6:15 a. m.
No. 1. 9:19 a. m.
No. II. $3.50 a. m.
No. 8, $3.50 p. m.
No. 2. 4:33 p. m.
" " wIKOFF. Agent.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-05

body greatly minds. Wealth is lucky
not to share the lot of human life.
1t is still exempt from conscription..
English labor is demanding that
capital be treated in the same way
as life. At the recent Trade Union
Congress, held at Birmingham, it
was resolved: "That as the manhood
of the nation has been conscripted to
resist foreign aggression, the main
tenance Of freedom and the protec-
ton Of capitalS this congress de-
mands that such a proportion Of the
accumulated wealth of the country
shall be Immediately conscripted as
shall be necessary to defray the
financial liability incurred in the
prosecution of the war"
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-05
MODELLING CANADIAN
PROVINCIAL ISSUES
PROPOSAL to Raise $1O0,000,OOO
in This Manner


Winnipeg advices indicate that other
Canadian provinces besides MANITOBA
and Saskatchewan are DESTROYS OF
mobilizing their securities for Imperial
nurposes. According to Edward Brown
Provisional Treasurer Of Manitoba
500 900 900 could easily be obtained IN
this manner.
According to Treasurer Brown, j. r.
Morgan and H. P. Dawson Will inter
view the British Treasury Board whiie
in London. with the object Of having
these other provinces of the Dominion
included in the mobilization scheme,
and will ask that the tax penalty clause
he enacted in regard to their securi-
tics the same as is now enforced
against United States issues. de ex-
messed the belief that there was
strong probability that the tax would
be applied because the securities OF
Manitoba, Saskatchewan and the city OF
Winnipeg, included in the mobilization
scheme, are not coming in as rapidly
as they should. 1t is now believed
that application of tax will be neces-
sary, especially If other willing prov
inces are included in the scheme.
The object Of the plan is to force
the mobilization of Canadian provin-
cial securities so as TO employ them
in obtaining such further dollar credits
as Great Britain may seek to arrange
in the United States.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-05
TRADE ARBITRATION
WITH ARGENTINA
Business Organizations to Settle
Commercial Disputes.

Washington, Oct. A practical ac-
complishment of the recent Fan-Amer-
lean financial conference was an agree
ment between the Chamber of Com
merce of Buenos Aires and the Cham
Der of Commerce of the United States
to arbitrate commercial disputes be-
tween business men of Argentina and
of this country. Proceedings to this
end have now reached the stage where
results may soon be expected.
The arbitration machinery is being
perfected, and although no cases have
yet been presented for solution, it
would not be surprising if some Of the
charges recently filed with the Amer
lean Consul at Buenos Aires by the
Union Industrial Argentina against
American business methods were joint
ly adjudicated by the two commercial
bodies.
So far the American public has only
heard one side OF the disputes, and this
had not reflected favorably upon the
practices of American merchants. With
respect to the charges lodged with the
American Consul at Buenos Aires, 1t
is learned that he asked for bill Of
particulars for purposes of investiga-
ton, but none was furnished. The "Re-
view Of the River Flate," in Its Sep
TENDER number, deplores this failure
to particularize, and, although it is n
British publication, says it is unjust
thus to cast aspersions on American
traders in general and refuse to cite
chapter and verse, so that reply may
be made.
The United States Chamber of Com
merce calls attention to the fact that
public criticisms Of American business
methods in South America are cabled
at once to Buenos Aires. Their publ
cation thers and in Europe had pro-
duced q bad effect
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-05
Pyramiding the War Bill.

Every finance minister in Europe
enormously underestimate the cost
Of the war. In Germany it was
believed that war could be financed
entirely with long term loans, bear
ing interest at fixed rate of per
cent; but each loan has been a little
harder to place than its predecessor,
naturally, because there is always a
point of saturation in the demand
for anything, even for patriotic
war loan. Probably before long Ger
many Will have to resort to short
term issues, in which England has
placed so much Of her reliance. Mr..
McKenna in England undertook to
90 a preposterous thing, namely, to
refund the whole British debt in a
cumulative manner each time a new
loan was brought out at a higher
rate of interest. The first English
war loan was at 31A per cent. The
second, brought out in 1915, was at
Az per cent, and the inducement to
buy it was that the holder was guar
anteed against depreciation in conse-
cuence Of a rise in the prevailing
rate of interest, because in the event
of there being other loans at higher
rates of interest the holders of the
Az per cents could exchange pound
for pound into the higher interest
bearing issues. AS an earnest OF
good faith the holders of the first IL
ner cent loan were allowed to ex-
change for the new Az per cents.
Interest has risen, but there has not
been another loan. The cost Of the
war since the second loan has been
met by the sale of exchequer bonds,
treasury bills, war expenditure GER
tIficates, war savings certificates, and
other devices, at rising rates Of IN
terest until on September 1 the
Floating debt" amounted to more
than one billion pounds. The entire
British debt on that date was as
folIows.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-05
EXPECT ASSESSMENT
AGAINST WAR PROFITS
Canadian Pacific Directors Pro-
vide for Contingency Fund.

Montreal, Oct. 4.-Lord Shaughnessy,
president of the Canadian Pacific Rail-
road, announced TO the stockholders at
the annual meeting here to-day that
the directors had decided to transfer to
a fund for contingencies a substantial
sum from war profits. for the following
reasons:
Although the amount Of the taxes that
the company may be called upon 70 pay IN
Great Britain and Canada in connection
with special war shipments Is not as yet
definitely determined. it will. no doubt, be
considerable, and prudence suggests prep
aration 70 meet it. Then, as you are
aware. most Of the company's ocean steam
ships have. during the last two years, been
engaged in admiralty service. Some OF
them were lost, although IN this respect we
have been singularly fortunate Some
were taken over by the Admiralty, and the
character Of the service that the Others
have been performing will make extensive
rebuilding necessary whenever the steam
ships are released.
To make provision for these excess war
profits. taxes and other war assessments.
that the company may be required TO pay
and for the rehabilitation OF ocean fleets. at
the prices now current. and that are likely
70 prevail for some time TO come. the di-
rectors decided 70 transfer TO a fund for
contingencies a very substantial sum that
would, in other circumstances, have gone
TO special income
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-05

dend Of ~ per cent on the ,.,sr. y,
payable December Is TO s'oes a. .s.,d 4 J
vember 30. and semi-snnuai o'.s. %
ner cent on the common stock. pas'
her "a % stock OF record October = U,;yd
Fall. Motor.-Reyulsr quartsry -
o,rs. nsr cent on the preferred SO
NJ. oc,ohcr is to stock OF record 49, 4
VInt.rocean On.-Sis months - -
81. No. csnt ON the first prsfsrred ~ 90
able November l TO stock VI
Der 20 ,.,A Il t.Fs
.hsr. account Of back dividends es .srs
$3.50 s,ock psysble October 10
record October 6. a..--rs(ss
American Light and irseu - -
ou.rt.rly cash dividends Of IN . y
~. nr,s.rred stock and IN per -. - 8
s's .,o..l and q dividend o. ~
~ shares Of common s'', al $50
.hsrc, Of common ouennd'as, ...hss II.
Novcmb~r 1 to stock OF reeora No.
W.,Al.on.wsIkr Rsfrset'fs~ -, . y
..',,, a,v;dend Of III per - ~
preferred stock. payable oe :.
of record October ~ ,,nr CO..
Canadian Ezpiosivss.---Ses.s. ssfsI
dividend Of IN per esn' =. .,erh 4 -
stock. payable October ~ T"
September so. n,v,dssd q 81
cent. payable October 10 !" .x|
October 10. v-r,ar uepbs ~
ss s.nt.- psysbls osssss ~
~ ~>cord Oetches "a -
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-05
HEAVY TRAFFIC GAIN
BY UNION PACIFIC
Withdrawal of Shipping In
creases Transcontinental Haul.

Prosperity Of the Western railroads
was further emphasized yesterday by
the annual report Of the Union Pacific.
Robert S. Lovett, chairman of the
board of directors, told the stockhold-
ers that operating revenues for the
year ended June 80 last we're the largest
in the history of the Union Pacific sys-
tenn, amounting to s104,717,005, as
against S86,95S,295 last year and $685.
63S,459 in 1918, the previous record
year. This increase he attributed to.
the business revival affecting all lines
of traffic, and the fact that the closing
of the Panama Canal and the European
war caused the withdrawal from do
nestle shipping Of many vessels, thus
throwing larger amount Of sranscon-
tinental business to the railroads than
they would have received under normal
conditions.
Union Pacifc's surplus last year after
all charges, including preferred divi-
dends, was equivalent to 1866 per cent
on the 1922, 1898, 100 common stock, as
against 1898 per cent earned in 1915.
There was a net increase in assets OF
s1s,950,972 and a net decrease in liabil-
tiles of s11,S16,027. On June 30 the
company had s12,234,369 cash, $780,
600 time deposits and s10,76S,505 in
loans, a gain during the year Of $751;
437,790 in funds on hand. Profit and
loss surplus at the close Of the fiscal
year stood at<s124,1 76,s10, in addition
to S4O,47l, 469 surplus reserved or ap-
propriated. The income account for
the year compares with 1918, the best
previous year, as follows:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-05
Money andCredit

Money on call at the New York
Stock Exchange ruled unchanged at
2% per cent, although some loans were
reported as low as 2.
Time funds on brokers' Stock Ex-
change collateral is fairly active, with
a continuation of the ease that has
prevailed in the past. Money is offer
ing on mixed collateral at 81 per
cent for all maturities carrying over
the end of the year.
Ruling rates on money yesterday
compared with a year ago were as fol-
lows:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-05
DEALERS STOCKS IN
SOUTH AMERICA LOW
Importations in 1915 Were Only
Half of Exports.

According to o. P. Austin, statisti-
clan, foreign trade department Of the
National City Bank, South America made
last year the unique record Of export
ing more than twice the amount Of
commodities it imported The exports
of the entire continent in 1915 were
81 ,665 100000 and the imports only
$685., 100000 This large excess of ex-
ports over imports, while unusual even
in the history of South America, which
usually sells more than 1t buys, was
due chiefly TO abnormally small imports
in 1915, and suggests that there are
many empty shelves in that continent,
while the opportunities for filing them
from the usual source, Europe, are
greatly reduced by the war. 1t is ap-
parent that the supply Of imported mer-
chandise in that continent must now
be much reduced, and as the purchasing
power is large, due to the fact that the
1915 exports were the largest in the
history of its trade, the opportunities
for American merchandise ought at this
moment be very great.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-05

The increase in Union Pacific's freight
revenues last year totalled s15,s41,9l5,
accounting for nearly all the gain in
gross, the increase in passenger earn
ings being only s1,193,331. Operating
expenses increased S6,446,055, Of which
s3,2s3,493 was in maintenance and
$50 in transportation costs.
The report said that the credit bal
ance on account of the disposal Of the
Union Pacifc's holdings of Southern
Pacific in accordance with the decree Of
the United States Supreme Court was
sl6,O99,19o.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-05
WEALTH MARKETS AND COMMERCE a@N

foreign money In terms OF the Ameri-
can dollar. You buy an English pound
sterling for ;4.75is; the intrinsic par
ity is s4.Sets per pound. Thus, you
say either that pounds are at dis
count or that dollars are at a premium,
which is owing to the fact that in
England the demand for dollars with
which to settle accounts in this coun-
try 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, 1916-10-05
News Digest
Foreign
London Stock Markell

London Stock Market.-London, Oct.
4-Money was in better supply and
discount rates were quiet to-day.
The steadier close Of the stock mar
ket yesterday developed into a gen
eral improvement to-day on the idea
that the recent decline was overdone.
The government supported gilt-edged
securities and bargain hunters bought
fairly freely. Consols showed the
most improvement and home rails
hardened without much business, but
the sentiment was decidedly better.
Speculative and industrial issues
varied but little. Rio Tintos were IN
good demand following the declaration
of an interim dividend of 40 shillings'
American securities were quietly firm,
with Canadian Pacific and United
States Steel the best leaders.
Money, AZ per cent; discount rates
for short and three months bills, "a
59s per cent; gold premiums at LIS
bon, 81.
Paris Bourse.-Paris, Oct 4.-Prices
were heavy on the Bourse to-day.
Three per cent rentes, 81 francs 81
confines for cash; exchange on Lon
don, 81 francs S11s centimes; per cent
loan, 90 francs.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-05
FINANCIAL MEETNGS
CHICAGO, SAINT PAUL, MiSNEsr'N
Ann OMAHA KAILNAf w.

NOTICE OF ANNUAL NEE , 80
The Annual Meeting Of the soetno...S
Of the Chicago. Saint Paul ~
and omaha Railway Company Wiz -,
al the ofsce OF the company. IN w ~ a
Hudson. Wisconsin. on Frlday. Ue.I.et 4
1915. at nine o'clock A u, ior vas "a
OF directors and the u~hs4e''Its .,or, ~
meeting .,.... an Ne,
oay' September is. 1915, al w ..oo.,s
business on that day. and VII "
on Saturday, october Fl. lsle
Dated. September l. lsi5. ,...,,,..
JAMES 7. CLARK, Ples''
rOuN d Caldwell. seoretAb -
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-05
French Loan Subscriptions.-Brown
Other Cities

Boston Coppers.-Boston, Oct. A.
The activity of recent trading in cop
per shares was lacking to-day. Prices
were but little changed in a colorless
market. The trend was lower. The
close was generally easier. Copper
Range, 10; Allouez, 69A; CRANKY, 92;
Old Dominion, 70b.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-05
The Dollar in Foreign Exchange.

The decline in the Teutonic ex-
changes carried further yesterday.
Special weakness was displayed by
Vienna remittances, kronen checks fall
ing TO 11.96 cents, almost equalling the
low record of 1876 established Septem-
Der II. Marks were fractionally lower
and are again quoted under 70 cents
for four. Sterling was unchanged.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-05
Dividends

United Cigar Stores.-Regular quarterly
dividend OF IN per cent on the common
stock. payable November 10 TO stock of record
October q.
United Verde Extension Mining Regular
quarterly dividend Of 80 cents a share. paya-
bio November to stock of record October l5.
MononGahela Valley Traetion.-Rsguiar
quarterly dividend Of I per cent on the COM
mon stock. payable October II to stock Of
record October Q.
Brooklyn City Railrosd.-Rsaular quarterly
dividend Of per cent. payable October Is 70
stock Of record October 4.
Colorado Pswvr.--Rswulas ouaxsarly dfv3-
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-05
Cn,caxo and North Western Rail.Y "

NOTICE OF ANNUAL NEE lt- -, ~
IT, Annual Meeting q the stocss' a. II,
-, ~. chicago and North w.sts's.
n ,he COMPANY oE 2SS west Jackson B 30 rs,
IN the City Of Chicago. Illinois. % s,s's5
day. october 10. 1915. a, 49,, ,s,se,o, ~
A. NJ. for the election o. ssslres .
the transaction Of such Ctner
-, 80 cone heto,e said meeting v.,1s
transfer books will be closed % ssssss
september IS. 1915. At the close ~ ss n
on that day. and sill be feopeh'S
day. october 20. 1918 -
Dated. September ]. i5ls p-.,,sss,
RICHARD " ASHTON.
Holm d CALDWELL seere,an
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-05
Charity for the New Haven.-Bos-

OHdIIty TUT tHc -Nt" f1 VH'
ton. Oct. 4.-Neither the New York,
New Haven e. Hartford Railroad nor
the Boston e. Maine Railroad will pay
a state franchise tax for the current
fiscal year, it was learned to-day. Be-
cause OF the "abnormally low market
value Of their stocks" Taxation Com
missioner Trefry said, he had decided
to impose no tax of this nature on the.
companies. The New Haven last year
paid s13,376 and four years ago paid
S575,S98. while the Boston & Names
franchise tax in its prosperous days
six years ago was s117,35S. The Bos-
ton & Albany will be required to pay
s37,306 this year. as compared with
former high payments of s343,S23.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-05

The United States Steel Corporation
is reported to have appropriated
s1.250,OO0 for the building of a billet
end tin bar mill at Farrell, Penn.
Construction is expected to begin in
the near future.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-05
Need for Co0peration.-

Need for Co0peration.-Danville, Ill,
Oct. 4.-The need for cooperation be-
tween governmental activities and
business interests was emphasized IN
an address here to-day before the an
nual convention of the Illinois Bankers
Association by Eugene Lamb Richards,
Superintendent of Banks of the State
of New York.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-05
A year
Commercial Paper-The easy I

JOmmercIaI Fdptf-Ihe easy ttH-
dency is still in evidence in CONNER
cial paper, but the volume Of trading
shows no expansion. Prime regular
maturities are moving at 31a@3A per
cent. There is an occasional trade in
short-dated paper at 81 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, 1916-10-05
"Wednesday, October /, 1915.

A cynic says the outside public,
having bought heavily for the rise,
is now waiting to see what the IN
side public will do, and that the in
side public, having sold heavily for
profit, is waiting TO see what the out
side public will do. That would seem
a deadlock. There was once a time
when, in this situation, the profess
sional element would attempt to de-
press prices in order to make the
outside public sell its stocks at a
loss, but that entails in the first In
stance selling a lot of stocks you
have not got. The professional spec
ulator to depress prices borrows
stocks to sell. That is short selling.
Evidently what he is now afraid OF
is that the outside public, having
bought so many real stocks, would
not know any better than to go on
buying all the stocks professional
SPECTATORS might borrow to sell.
That would be a worse predicament.
However, it is not hopeless. Some
thing will happen.
Strength in railroad stocks is an
evaporation to those, who, on the
enactment of the eight-hour law,
closed out very large holdings and
we're resolved never again TO risk
their money in that discredlted class
of securities. They were impetuous
and misguided. The fact that this
liquidation made almost no impress
sion upon prices is beginning now to
be more emphasized than the calam-
ity which induced the selling. 1t was
a demonstration both of the enor-
nous buying power of the outside
public and of its confidence in Sc
curities which Wall Street was will
ing to be rid of. This Wall Street
liquidation was followed by heavy
foreign selling. That also was alb
sorbed in a manner to create aston
ishment on the Stock Exchange. 1t
is a natural sequel that Wall Street
itself should begin to feel revival
of confidence in the shares of the
American transportation industry.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-05

FEDERAL SUGAR REFINING CO. 60,

The regular quarterly diyidena 2, -
AND ONE-HALF PER CENT. U1h
the Preferred Shares Of this Comps1.,
be paid oct. 10th. 1915. 20 stoekno.'.,...
record at the close OF business %
1915. Transfer books will not elose
REGINALD D. SMITH Asst seefe.s1
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-05

At the annual meeting of stockhold-
ers in Louisville yesterday George b.
Elliott, of Washington, was elected a
director to fill the vacancy created by
the death of w. J. Dickinson, Of this
city.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-05

Silver-Bars in London, 327-16
pence; here in New York, 6Sss cents;
Mexican dollars. 52%655%.
German Bank Statement.-Thes state
ment of the Imperial Bank Of Germany.
issued September 30, shows the fol-
lowing changes:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-05
American Telephone & telegraph

A dividend OF Two Dollars per sha, v
be paid on Monday. october Is IVA D
stockholders Of record az the close Of -
ness on Saturday. September 30. 1914
= n MINE Trssszw
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-05

Grand total.

V1aHu tOIdI- III '0I000I0
To avoid refunding existing war
loans the British government has
now announced an issue of three
year 6 per cent exchequer bonds
with which 70 retire the treasury
bills and other floating issues. This
is technically not a war loan. All
the same, the appearance Of 6 per
cent government bonds has the effect
against which tho buyers Of the u
per cent war loan were guaranteed.
Every government issue bearing less
than 9 per cent must decline. Every
holder of tho debt grumblcs, but no
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-05
Corporation Returns

International Agricultural Corporation.-
Report for the year ended June 80. 1916.
compares as follows:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-05

Below Is given the current exchange
value of foreign money, in dollars and
cents. together with the intrinsic gold
parity. rs calculated by the United
States Mint:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-05
L. 8 N. EARNS 1888
PER CENT ON STOCK

The Louisville & Nashville Railroad
enjoyed the most prosperous period OF
it's history in the year ended June 80
last, according to the annual report
made public yesterday. The company's
income balance was equivalent TO 1888
per cent on the s72 100000 capital stock,
as compared with 6.76 per cent earned
in 1915. Dividends paid during the year
totalled s4,32O,OOC. The complete in
come account as of June 80 compares
with the previous year as follows:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-05
Alabama Great Southern Railroad.-Re.

ALABAMA breat southern haliroan--he-
port for the year ended June 80, 1916. shows
a surplus after preferred stock dividends OF
81 067. 1888. equal TO 1876 per cent on $780,
600 common stock. a. compared with 5.i per
cent earned on the same stock in the year
preceding. The condensed report Is As fol-
lows.