davidaulloa/AmericanStories huggingface dataset:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-09-02
GERMAN IMPORTS
HIT BY RUMANIA
Great Supply of Cereals
from Country Now at
War Cut Off.
BY YVES GUYOT.
s1.nInIst.r q Public works. Editor "l'Assnes
gconomIsu. ct Flnsncltre.'

Paris, Sept. 1.-The participation
of Rumania in the war will greatly
reduce Germany's resources in cere-
ais. Before the war Germany i'm
ported an average of 100000 tons
of grain year, a great part OF
which came from Rumania, and
since the beginning of the war She
has bought large amounts from RI
mania. Bulgaria exported only an
average of 225,000 tons a year be-
fore the war, and since she entered
the conflict her expectation has been
insignificant, while Turkey has no.
enough grain for her own population.
The Central Empires thus will be
greatly pinched by the cutting off
of the Rumanian grain supply.
Frances grain production fell of
one-fourth last year on account of
the lack of farm labor. She, how
ever. has the markets Of the world
to call on, and there is no fear Of
a lack of foodstuffs in the Allied
countries.
Unfortunately it seems impossible
to-day for farmers TO buy American
agricultural implements that before
the war were freely sold here and
almost universally used.
AS to be expected, recent events
have confirmed the French financial
world in confidence. Paris market;
have retained the high level reached
a few days ago, but have become
more calm, with evidences that the
new high level is not merely tenn
porary gain. Conservative bankers,
however, consider prices now high
enough and say that conditions do
not Justify further rise for the
present.
A new French loan is expected.
This probably will have an effect OF
the general market, as many persons
will sell stocks TO put the money in
the government loan. The price Of
the rouble continues to mount, AMI
the entry of Rumania into the war
will tend also to help the prices Of
a good many Balkan investments.
The question of reestablishing in
dustries in the invaded districts is
being taken up in a practical fash
ion. The presidents of the great in
dustrial concerns have formed So
ciety to deal with the reestablish
ment of industries ruined by inva-
sion. and the government has prom
ised its help. This is really prac-
teal step toward dealing with the
question.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-09-02
The Dollar in Foreign Exchange

The German mark declined again
and touched 69A, the lowest point at
which it has been quoted in the foreign
exchange market since the war began.
That means SOG9A for four marks, or
sO17.44 per mark. The intrinsic parity
Of the mark is sO.23.s, so that it is now
at a discount Of about q per cent.
No special reason for the decline is
assigned There IS really very little
demand for German exchange, owing
20 the almost complete cessation Of
trade, and therefore Il moderate amount
Of selling affects the price in an abnor-
nal manner. often an interruption Of
wireless communication for a day will
alter its value. Rubles were stronger.
Dutch guilders were weak. The clos
ing rates OF exchange on the principal
financial centres Of Europe were as
follows:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-09-02

some gold showing about him, rises,
adjusts a blackboard on little easel
and begins a lecture on theology.
The same kind of crowd gathers, and
for the same reason. The lecture
is illustrated by drawing in colored
chalk on the blackboard. It's arts
tic crudities are overcome by the
spirit. which is ominous. There IS
first a sea, in blue chalk; then rocks
in red chalk, then a lighthouse in
yellow. The scene develops with
the lecture. The last thing to APP
pear is the ship. That is you. The
rocks are all on one side OF the
lighthouse; on the other side is clear
sailing. You, who are the ship, have
to choose which course to take. by
a fault in the perspective you seem
already to have got on the rocks,
but YOU are not to notice that. Man
is a creature of free will. The eX-
traordinary fact is that with a KIND
of fatal perversity you do so often
see the better course in time, and
yet choose the worse, and 90 smash
on the big red rocks. 1t takes the
better part of an hour. The taXicab
is charged for at the legal rate, with
perhaps a tip included.
There is no moral. There is only
the contrast. Why propaganda
should cost more for religion than
for government ownership nobody
knows. Perhaps it should. Proba-
bly. as in so many other things, the
cost is determined by what the traf'
fic will bear. In any case, 1t IS OF
no interest to Wall Street. The cost
is paid outside and the hereafter
will wait. Between 10 and 3 botf
salvation and government ownership
are academic questions. The rocks
that worry Wall Street are those
that lie between man and his
profits. He is a good bull on United
States Steel common, and yet ne
loses money on it the day it sells
at a new high record price. Why =
The prophet who can tell him that
NAV tell him anything else. and
claim him unresisting for any heav-
en- there is.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-09-02
British Loan Now Paid For.

Payment in full was made yesterday
by the subscribers to the s250,000,O 900
two-year British collateral loan at the
Offices Of J. p. Morgan & Co., the syn
dieate managers. The bulk of the pay
mcnts were made through New York
banks. either as participants or by out
of-town subscribers who carried large
balances with them.
Those making payments received
temporary receipts authorized and
issued By the British government and
signed by its representatives in this
country. within the next month or so
defnitive certificates will be ready for
exchange for the temporary certificates
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-09-02
Friday, September 1, 1916.

Nothing in the days develop
ments, at Washington or abroad,
could be supposed to have deter
mined new attitudes toward the
stock market. The reaction in
prices, therefore, should be explained
on technical grounds. 1t confirmed
the opinion that the rise the day
before was owing principally to
short covering; that is to say, to the
buying of stocks by spectators who
had previously sold them for fall
on the labor situation in anticipation
Of genuine liquidation which did not
follow. These alternating fits of
strength and weakness are unim-
portant. The true character of the
market is estimated upon other evil
dence. If it had been inherently or
structurally weak, the emotional
strain of the week now closing would
have produced lot of liquidation,
short contracts could have been COW
cred at a profit, and prices, instead
Of having held on one level, the adj
vances of one day cancelling the de-
clines Of another, would now be on a
lower plane.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-09-02
BUSINESS TROUBLES
Dansruutcy Petltlens.

METROPOLITAN LEASING Co petition has
becn nled against the Metropolitan Lessing 60. o.
Ssa Prospect .v The Brqx. by Herman hsflS. a
creditor for SOL. for coal. IL wAs alleged mat
he company IN June transferred notes 81 80 10
Israel A Glekel The company was incorporated
on October 9, 1913. With capital stock fll 600. 80 .
PIETSCH BROS-A petition has been lied
against Pietsch Bros. greers. al sS6 Columbus
az by these creditors H. q. Thomas Co.
SO. Austin Nichols Co. 80 Los.e -Nilcs
biscuit Co So, II. w. Briuon Co. $40. W.
Hurton & Co. yl6. Il e. Williams Co. 50.
and Klrkman & Son. Sl2l. They made all assign
mcut on August H.
has been a.ed against Shacklcton. Inc. tailor. OK
an 5th sv by these creditors Aaron l. Palmer.
Sl7S: Lawrence Guckrnheimcr. So and lsidots
Farh $3.50 Liabilities are s. OeO and assets
81 900 The company made an assignment on
HATlIIRINE CooTs. EDWIN AND CAROLINE
& FEHR-A petition ga bankruptcy has been
Md against Katherine Coots. Edsin 4 fehr and
Caroliu- C. Fehr. partners In business al thsp-
paqua wcstchcstcr County. by these creditors
Albert Turner. $500 James Mccullough. 81 Nc"
York city 81 600. AMI IA ph RYDER. s..
FRANCES LENlrAN SplNGolp. dressmsAer .,
sos Nest Ind ar has nled petition Ia bank
fuptc, With liabilities 81. Isl aud no assets. There
are ony three creditors. tho largest being hdws
bailey, Sli.337. on a deficiency Judgment obtained
GA MAY - last I'm Brooklyn.
Baakruptcy Schedules.
COMFORT CLOTHING CO. Of - East t.h
st.. has died schedules showing Liabilities si$S's
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-09-02
they could not be sold. Scheme B
now provides that

they could not be sold. Scheme B
now provides that
The Treasury will have the right
at any time during the currency of
the loan TO dispose of the securi-
ties should they find it necessary
TO do so, but in the event of their
being so disposed of the lender
will continue to receive from the
Treasury the same payments as he
would have received if the securi-
ties had been retained, and at the
end of the period Of the loan the
Treasury will either return to him
securities of the same description
and to the same nominal amount as
those originally deposited, or, at
their option, they will pay TO him
the deposit value of the securities
with an addition of per cent on
that value, plus accrued interest
from the last preceding interest
date
Those who have loaned their Sc
curities under the original Scheme
A are solicited TO transfer them to
Scheme B. Naturally, no announce
ment will be made of the extent of
transfers, and only the govern
ment will know to what extent Sc
curities which were in the first in
stance to be used only as collateral
now become available for liquidation
Apparently, the owners Of securi-
ties loaned to the government and
employed as collateral, for instance,
under the $25O,OOO,OOO British loan
just placed here, could transfer them
to the new category, under Scheme
B, whereupon the government would
have the right to sell them at its dis
erection.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-09-02
Money and Credit.

The ruling rate for call money at
the New York Stock Exchange was 2's
per cent.
Time money on brokers Stock Ex-
change collateral was abundantly Of
fered at the rates which have re-
Gently prevailed, namely, 2% to 3
per cent for sixty days, to 81 per
cent for ninety days, and 81. to 3#
per cent for longer periods.
Commercial Paper. Wall Street
demand for commercial paper is very
good. Bankers say they could place
more than they have. Rates are 3i2 to
32i per cent for sixty-day maturities
of the highest character.
Official rates of discount at each of
the twelve Federal districts are as
follows:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-09-02
CHICAGO. SAINT PAUL. MINNEAP0Lls
AND OMAHA RAILWAl 90.

NOTICE OF ANNUAL MEETING.
The Annual Meeting OF the Sockholdef'
OF the Chicago. Saint Paul Minne-poi'
and omaha Railway Company will b. bel.
~ the office Of the company. IN the CRY q
Hudson. Wisconsin. on Friday. october ~
1916. at nine o'clock 4. N. for the eleetoi
OF directors ana the transaction OF sue,
other business as may come before sAs
meeting
Transfer books will be closed on Soc..
day. September Is. 1915. at the close o.
business on that day. and will be reopere1
on Saturday. October q, 1915.
Dated September I, 1915.
JAMES T. CLARK. Presidsrt
rOT4N. u CALDWELL. secretary
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-09-02
Maturity in DAYS.
The Weeks Money Currents.

Evening Post" says: Returns COM
piled to-day by banks of this city,
through which most of the currency
shipments are handled, show the fol-
lowing currency movement for the
week ending to-day: Received from
interior institutions, s5.404,O00; shipped
direct to interior institutions, $3.50
600: net shipments, s2,451 900, against
net receipts of s3,557,O 900 last week net
receipts of S3,36l POO in the week end
ing August 10, and net receipts of So
$4,000 in the week ending August l."
Bank Exchanges.-The days clear
ings at New York and other cities:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-09-02
chicago and North Western RaiIvsy Co.

NOTICE OF ANNUAL NEE IISu
The Annual Meeting OF the Stoekne.es'
OF the Chicago and North western "a
way Company will be held az the Once q
the company. 22s West Jackson Bou!ss.s
in the city of Chicago, Illinois. On IhsIE
day. October 10. 1915. at eleven oeIe.1
A ~. for the election Of Directors .,
the transaction OF such other business ~
NAV come before said meeting.
Transfer books will b closed on nonc..
September IS. 1916. a. the close OF oSsr II
on that day and will be reopencd On ~
day. October 20. 1916.
Dated. September J. 1915
RICHARD II. ASHTON, President
JOHN d. CALDWELL, Secretary
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-09-02

International Mercantile Marine
preferred advanced again and
touched a new high price. Shipping
shares are perhaps the most ire
sistible speculation there is at the
present time. They contain every
necessary element. The profits are
enormous. If they should continue
for two years at this rate the ships
that had earned them could almost
be written off the books. IF the war
should end suddenly, that would be
very different. This risk is partly
in the price. You could not buy
shipping shares at these prices if
their war earnings were likely TO be
permanent. There is a point, Of
course, at which the price overtakes
the risk and begins 70 pass it, but
nobody knows where that point is
or when it has been reached, which
is all the better for purposes Of
speculation.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-09-02

That the New York stock market
has not been consciously moved by
the developments of the last few
days in Europe could be more easily
accounted for than that the English
market has been equally obtuse.
Russian and Rumanian things on
the London Stock Exchange adj
vanced, but there was nothing in
the behavior of the general market
to be construed as a feeling that the
period of hostilities had been fore
shortened. It is possible that the
longer the war lasts, the less the
markets Of the world will know
what to do with peace when it ap-
proaches. If war by its duration
should seem TO become the normal
state of Europe, which is imagin-
able, seeing how rapidly people ac-
commodate themselves to any con-
dition, then the cessation of war
would entail almost as many violent
readjustments as the beginning of
it did.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-09-02

The plan Of the British Treasury
for "mobilizing' foreign securities,
70 be sold or borrowed on abroad,
has been modified in a manner 20
give the government the right actu-
ally 20 sell the securities borrowed
The original plan, now called
Scheme A, provided for a two-year
loan Of securities 10 the government.
At the end Of that time they were
% be returned. In the mean time
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-09-02
WHAT IT MEANS
TO WIN TRADE
OUT OF RUSSIA
The First Indispensable
Requisite Is Credit in
Enormous Quantities.
By SRINIyAS X. WAGEL.

Can permanent trade relations on an
evtensive scale be arranged between
this country and Russia? There is no
doubt that the United States can
supply the greater part OF the goods
that have hitherto been supplied by
Germany-not to speak of capturing
the trade Of the United Kingdom OF
France. Before the war Germany was
the biggest consumer of Russian goods,
and sold more than half of the toVal
purchases of Russia. The total I'M
ports of 1913 into Russia were valued
AZ 1920. OOO.OO rubles, Of which Ger
many supplied 642,0OO,O00 rubles; the
total exports from Russia were Law
ooO. 900 rubles, Of which Germany took
A52OOC 900 rubles. The United States
sold $4,000. 900 rubles worth OF goods
and bought 100000 rubles worth
The chief imports were metals ma
cbinery and metal goods, to the value
Of 1888. 200 900 rubles; textiles, to the
value of 2s3,OOO,OOO rubles; food PROD
nets valued at 166,OOO,O00 rubles'
leather. hides. and manufactures, etc.
al 600 600 rubles; coal, coke and ruo-
her products. 142,OOO,0O0 rubles, ana
chemicals and colors, 59,0O0,OOO rubies'
We can sell great part oil theSe
goods As matter of fact, we can
sell all. if we grant credit. Exports
from Russia consisted mainly Of corn
-four. tobacco, meat, sugar and other
food products, to the value OF oo''oOo'-
600 rubles; timber, oil cakes lui'
hemp. wool, platinum and other raw
and half manufactured goods, to the
value of $50, 100000 rabies, and mis-
cellaneous articles to the value Oh
about 1OO.OOO,OOO rubles. We need
very little of these, except, possibly
wool. fur, hemp, platinum and sugar
"a the total value of about 50,OOO,OOV
rubles
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-09-02
ANDREW J. MCCORMACK. Auct.on.r
LIGGETr & MYERS TOBACCO ooapAyl

-. Louis, Mo, august Esth. 1915
The Transfer Books Of the registered
per cent bonds Of Liggett Myers Tobaec;
Company VIII close At o'clock p. N
September 18th. 1915 for the pAymsn, Q,
interest on said bonds. due october Ind.
1916. and will reopen at 10 o'clock A. ",
october 3rd. 1915.
T. T. ANDERSON. Tressgrer
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-09-02
DIVIDEND NOTICES.
BETHLEHEM STEEL CORPOkArioS
Notice OF Dividends on
Draf.rred md Inmmnn MOCK.

The third instSilment 81 ~ 9. OK wv
ner cont dividend upon the preferred s,oes
and Of 7isos Of the 30 per cent dNis..,
upon the common stock OF Bethlehem -.
Corporation. which were declared on Ss.
arv 90 1916. will be payable. on octoee, :
o'ciock y n ON September IS. 1915 ana ~
fourth on January >. 1917, 10 ne s'0' :,
holders Of record az o'clock =. M;a. a
December Is. 1916. Checks Will be ni-A'-
Dated September !, 1910 --,~
b II. JONES. secre,A'y
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-09-02
Sub-Treasury. - New York

Sub-Treasury. - New York banks
gained from the Sub Treasury s3,5l1,-
600.
Silver Bars in London, 32 7-16
pence. Bars in New York, 6S1s cents.
Mexican dollars, SEA- 5511 cents.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-09-02
L1ccrrr MYERS TOBACCO CoMrANl

81. Louis, No, August .tIh' To-,
A dividend Of one and Three guar r,er
Per Cent. $3.50 has been cecisIea v ~,
the Preferred Stock OF LlggsL ard
Tobacco Company. payable october 80. 80
1916. 10 stockholders OF record AZ ,hs -
OF business September 18th. 1915. CIV
will be mailed. .,,.r
T. T. ANDERSON. Treasure
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-09-02
FINANCIAL MEETINGS.
American Telephone and Telegraph
Company
Cnn,ertlhIc Tonr Per Ctnt. cold BOND

Coupons from these bonds, payable b
their terms or September l, 1915, az ne
once or agency Of the Company In Nss
York or In Boston. Will be paid In N.t
York by the Bankers Trust Company II
Wall Street.
q u MINE. Treasursr
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-09-02

The above rates express the cost OF
foreign money in terms of the Amerl-
can dollar. You buy an English pound
sterling for s4.75is; the intrinsic par
itv is s4.S65s per pound. Thus, you
say either that pounds are at dis
count or that dollars are at premium
which is owing to the fact that in Eng
land the demand for dollars with which
to settle accounts in this country IS
greater than the demand in this coun-
try for pounds with which to settle
accounts in England.
If you calculate the cost Of the dol
lar in terms of foreign money-tha'
is. as If you were buying dollars with
mounds. marks or francs-its value
Yesterday and year $50 would De
about as follows:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-09-02
Omnium Russo
Company went into liquidation IN 1917
Societe Metallurgique DOnetz-Jou-

Company went into liquidation in 1912.
Societe Metallurgique Donetz-Jou'
riefka. Established 1895. Capital
100000 rubles. Reduced in 1901 TO 40
per cent. Has since been successful.
Houillete dc BerestOw-k rinka. Es-
. tablished 1898. Capital, 2, 100000 francs.
Reduced 1899 to so per cent. Capital
afterward increased by further issues
to 100000 francs. Again reduced
1907 to 80 per cent, 4,450,0OO francs.
Quotation 1912, 1876 (par 250).
Sells Gemmes ct Houlles de la Rus
sie.-Capital: Francs, 100000; re-
duced to 80 per cent in 1888. Capital
later: Francs, 25,OO0OOO; again re-
duced in 1911 to so per cent; francs,
/ 12.5O0.OOO. Bonds issued at 9512 quoted
/ 1912 at Sc.
Industric Houillere and Metallurgique
dams lie Donetz (Makeevka) Capital:
Francs. Il, 800 900. Assessment, 1904, OF
francs so on old shares of francs 800,
against which new shares of francs
800 were issued (meaning reduction of
50 per cent. Issue OF francs 10000, 900
preferred at francs 500 par; issue Of
francs 100000 bonds at 81. Quota
ton 1912: Common, %; preferred, 81;
bonds, s5l2.
Industrie Houillere de la Russie
Meridionale < Capital: Francs 12,5OO,-
900 shares issued at par and 1877. Re-
duced, 1902. to SO l-3 per cent. Again
reduced, 1907, to so per cent, being
1928 of original face value. Issue Of
preferred at 97l2. Issue of bonds at
/ 9S. Quotation 1912: Common. 1919;
preferred, 10; bonds, SO
Societe Minere and lndustrielle de
Routchenlo. - Capital: Francs. 1900
600 issued at par and francs 100000
issued al 96i2. No quotation for shares
in 1912; bonds. 10. Company went into
liquidation in 1912.
! This list comprises the best among
/ French investments in Russia. The
great majority OF companies were
/ thorough failures; list of such would
run into several pages.
When the statemen. is made that
Russias position will be wonderfully
improved by the opening Of the Oar
danelles it is necessary to point out
that the Dardanelles mas always been
open 20 trade. 1t has been closed only
to Russian men-of-war. The prosperity
of Odessa is striking Illustration.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-09-02

The most extraordinary contribu-
ton to the literature Of current
events is the following extract fror1
the statement made before the Sen
ate Interstate Commerce Committee
by Mr.. +. c. Garretson, for the
brotherhoods:
an times like this men 60 back
TO primal instincts. They go back
TO the day of the cave man, the
cave man who, with his half gnawed
bone, snarled at the other cave
man who wanted 10 take his bone
away. am reminded to-day of the
time | worked on a train down in
Mexico, where the vulture was a
sacred bird. When we hit a COW,
specks in the sky that were vult-
ures could soon be seen over the
carcass. Now the public is the
carcass. And we all, perhaps, the
vultures. We brotherhood leaders
are protecting the pockets of our
men; the railroads are protecting
the pockets OF their stockholders,
and the shippers are protecting
their own pockets. The country
will pay"
AS an expression Of crowd emo
ton it is a classic curiosity. The
only other thing TO say about it j:
that its unintelligence is abysmal
This cave man was a member of the
Federal Commission on Industrial
Relations.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-09-02

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, 1916-09-02
Preferred Creditors.

There is talk of cementing the rela-
tions between Russia and the United
States by the grant of large loans and
credits at present. What about the
large sums already loaned by France
and Great Britain, not to speak OF the
sums due to Germany? Is 1t probable
that they would let go any opportunity
TO increase the mutual trade relations,
first, because Russia owes money to
them. and next because they need Rus
sia's goods in exchange for their own
To date, Russia's indebtedness TO
France and England is over 81 1000 ,OOO,-
600. To US she owes, so far, $780,
900 900; and even if we increase 1t
to tenfold, where would we stand as
compared with the above two countries ?
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-09-02
MEETINGS.


The Annual Meeting of the sioscsMnpINI
OF the j. T.. LINDE PAPER 1osa, nsry.
viii be held at the once ~ me eohlt,,.a
90 Bcoltman Street Borough OK MAJ a. ,
on Thursday, September Il, '.DSi,.rtc,
o'clock p 81 FOR the election Of Dre.'V.,,
and officers. and such other ous'n
may come before the meeting. .,.,y
J. T.. LINDb. Se-r-