davidaulloa/AmericanStories huggingface dataset:
The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1916-02-24

lA AAN
sIsrERsvILLE
THOMAS
PIEDMONT
RINGwooD
TERRA ALTA
CLAY
REDWOOD
KEYSER
MARTIHsBURG
WESTON
SALEM
WALLACE
FARMIHGToN
The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1916-02-24

The following teams will probably en-
ter the state basketball at
B~uckhaunou on March 10.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-04
Money.

Call money on the New York Stock
Exchange ruled at 2h per cent.
Commercial paper was easy at 81
to per cent.
Increased supply and continuance Of
the limited demand have combined to
lower time money rates about 4 per
cent The quotations for mixed loans
are 3 per cent for sixty days, 81 to
3h per cent for ninety days, 3a per
cent for four, Ave and six months.
Industrial money Is lending about Il
per cent higher.
Money in circulation in the United
States on August totalled $4,000 0k,-
672, compared with s4,01S,043,5 55 on
July and s9,563, 7o5,O22 in 1915.
Gold to the amount of 100000 was
withdrawn from the Sub Treasury yes
terday for shipment to Spain.
New York banks are again transfer
ring balances to London TO take advan-
tage Of the higher money rates pre-
vailing in that market Upward Of
s50,000,O00 has gone forward in tho
last few days. Yesterdays transfers
exceeded s3,000,0o0. Ono bank alone
RENTED 100000 to put out on call
in London. The movement shows how
much money market conditions have
improved here compared with a month
ago. At that time tho call rate went
TO 8 per cent, and New York banks
which had been carrying large balances
in London because of the more favor
able interest rates there began to
withdraw these funds In favor Of New
York. Subsequently tho Bank of Eng
land advanced its discount rate to 6
per cent. TO check the movement.
Since then the rates here have re-
Taxed, and the local banks are again
finding 1t moro profitable to employ
their balances abroad. Loans now
being made in London by New York
banks are mostly on call. II the
movement continues for long bankers
here expect it will have a strengthen
ing influence on rates in the local call
market.
Official discount rates in each OF the
twelve Federal Reserve districts are:
Maturity In DAVIS
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-04
Wm.A. Read&CO.
A New Canal Customer.

The passage through the Psnams
Canal on July 10 of the passenger
steamship Rsmuers, Of the Newzealsnd
Shipping Company, on the way from
Wellington TO London. marks the estab-
lishment Of this important line through
the canal. It's route has formerly been
around the Cape Of Good Hope on the
outward voyage from Great Britain and
around Cape Horn on tho homeward
lap, the vessels going completely
around the world on each voyage. II
was intended to make uss Of the canal
route some time ago. but the outbreak
Of the war IN Europe and the closing
Of the canal By slides deferred the
adoption Of this route until now. The
company has reported fts intention Of
building new ships especially for the
canal service
The old route sotarlsd la,216 miles;
the new routs win approximate l1,1so
miles via Tahiti aud Colon, or II, 46o
miles IL the steamer sails direct to
Balboa from Wellington and goes by
Norfolk on che way from Colon to
Plymouth.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-04
Use Of Danish West Indies.

II is In relation to the Panama
Canal that the Danish West indies
assume their greatest importance.
Living on the direct route from north
ern Europe to Panama, and nearer 10
the ports Of the powerful European ma
tons than any other islands IN the
chain. St Thomas, even though eleven
hundred miles from Colon, stands like
a sentry guarding the approaches TO
the canal. Then, as II nature had In
tended the islands for this very pur-
pose. j. has provided in Charlotte
Amalia one Of the best natural harbors
In all the West Indies. With an en-
trance that Is narrow and deep; with
a harbor that is both deep and spa
ciouc, and surrounded on all sides By 4
range Of relatively high hills that lend
themselves readily to strong fortifica-
ton, Charlotte Amalia has the great
est possibilities as a naval station. IL
Is nearer to the canal than the pres.
ent United States Naval Station at
Guantanamo, on the island Of Cuba, and
il is both nearer and better natural
harbor than San Juan, on the island OF
Porto Rico.-Philadelphia Commercial
Museum
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-04
China's Hat.

China Is still holding out her hat
In Wall Street. The Administration
stands by, giving moral support, as
If that were proper security. The
State Department has represented
10 the bankers that 1t would be
patriotic" to lend money TO China.
Whyf Patriotic from what point OF
view? If there are great political
reasons why the United States
should practise philanthropy toward
China, then the government ought
to lend the money instead Of asking
bankers TO do 1t. The government
could take China's unsecured ]. o. U.
If there is no higher political reason
than trade, then it is business, and
should be so treated. So far as we
know, the only reason one country
ever has for lending capital to an
other is to get some advantage in
the others trade. The advantage
may be only that of priority and
good will; it is often a preferential
treatment as against rivals, and it
is sometimes an intrinsic agreement
which attempts 10 govern trade in
ways to favor the lender. 1t is very
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-04
CHINESE LOAN NEGOTIATIONS
New Banking Group May Undertake
Proposed Financing

While bankers admitted yesterday
that tho American banking interests
which were members of the six-power
group formed four years ago to finance
the requirements Of China had been
unable 10 come TO terms with the
Chinese government in the proposed
new loan, it was asserted that negotia-
tions had by no means been terminated
and that further conferences might be
held. Tho understanding in banking
circles is that new group OF American
bankers may take hold of the prof
loan. The American International Cor
poration has been mentioned as q pos
sible party 10 the proposed loan, since
the J. p. Morgan g. Co., Kuhn, Loeb
& Co., the National City Bank and the
First National Bank group found it i'm
possible to undertake the financing.
1t was said yesterday, however, that
such would probably not be the case,
as the proposed loan is for admins
trative purposes only and not Of q
character that would interest the
American International
China has sought to raise $4,000, 900
here. Negotiations progressed for a
time TO q point where 1t seemed prob
able that an initial loan of $4,000, 900
might be obtained. TO be followed by
more comprehensive financing later.
The point on which the Chinese inan-
cial authorities and the local bankers
have split has been the matter Of
security. Bankers here have main
tanned that In order 10 make the loan
acceptable to investors here il would
have TO be adequately secured either
by pledge OF specific revenue by the
Chinese government or some other
equally satisfactory way. Moreover,
the State Department at Washington,
which has been desirous of seeing the
loan arranged, has been asked to lend
its aid in seeing that the conditions Of
the loan were fulfilled should it ever
be necessary TO insure the carrying
out OF the Chinese governments obli-
CATION. The State Department, ac-
cording 20 report, baked and was un-
willing to lend support 10 such all
arrangement
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-04

Motor stocks as q group were
weak, especially on the curb. The
motor industry is one in which the
gains hsve exceeded the dreams de-
sire. Yet the motor stocks, which
represent the capitalization Of that
industry, are frail and nervous and
subject TO fits of acute weakness.
The situation deserves reflection. In
the first place, the properties were
capitalized as If the rate Of growth
in the last few years could be ex-
pected to continue, as If there was no
such thing in the motor trade as
saturation point. The capitalization
was based upon profts-often freak
profits-and then when 1t came to
make the assets match the liabilities
goodwill had to be written up on the
side of assets. II is in some instances
the most valued asset. But what so
remarkably distinguishes this case is
not the goodwill and sheer optimism
included in the capitalization, but the
inexperience it contains. The whole
industry is new, and has been grow
ing 30 fast that the experiences Of
one year could have very little rela-
ton to the problems of the next. 1t
Is an industry without that body of
accumulated knowledge which is
necessary to make a business feel
sure Of itself. The gains ought to be
large to compensate the risk; it is a
place where capitals return is al
most unlimited, but where its haz-
ards also are high. But here are
thousands of people who find them
selves share proprietors in a bust
ness they know nothing about and
upon which nobody has enough in
formation to be able to say what any
motor stock is intrinsically worth.
How did this happen? What right
has the public to put its money into
that kind of adventure? The right
Of greed and gullibihty. It Is holding
a pretty large bag. It expected too
much. All the same 1t is very poor
business for Wall Street 10 capitalize
an industry in the gristle and sell
it hot to the public. 1t is notable
that the richest concern in the motor
trade is one whose shares never were
offered TO TIE public. 1t has just an
nounced a cut in prices which has
probably lowered the point Of satura-
ton, but has at the same time inten-
sifled the competition.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-04

the automobile industry was espe-
cially theatrical. One we'll known
motor company was on the verge OF
bankruptcy. Then it got its first
war truck order, and now its SOL
vency is Of a very fancy kind. An
other motor company, capitalized
ut $4,000 900, which in its best prior
year had earned 100000, began to
show profits at tho rate Of $s,ooo,-
900 year. Whereupon Wall Street
came and seized it and recapitalized
it for $16,000,0O0. Such things
happening suddenly turn peoples
heads. Local stocks have gone up
from nominal prices to hundreds OF
dollars per share, and this is not
called speculation. There are the
profits to show. 1t Is luck, per-
haps, but not speculation. What
would you have people do with their
profts7 Save them? Well, in
fact, a great deal has been saved.
New construction has been paid for
out of profits. That is saving.
Plants have been increased to new
dimensions, debts have been paid
of, and still there was so much over
that some Of it had to be spent
THE OTHER HAND. .,
Tho growth in tho automobile
business has been simply incredible.
Men who are in it tell you they
distrust it. They cannot believe 1t
will last. Something unexpected
will happen. Each one for, himself
is going to make his while it's cur
rent, and he is resolved, also, to
play safe, to take only real money
and be protected whatever happens;
but on top Of this he tells you OF
having motor shares that have gone
away up. He could sell out at
large profit, but as he is playing
with velvet he cannot lose. The rise
may go further.
A rare old philosopher, sitting be-
hind one Of those bank windows In
Euclid Avenue, says he has seen
more rashness and folly Of greed at
home than he has heard Of in Wall
Street. Speculation this time has
been widely distributed. So will the
losses be. u. u.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-04
Made Embaryoes,

A decree of the French government
effective July Rs. prohibits the exports-
ton Of beeswA1, raw or manufactured,
eotYso extracts. monazite, tea, menthol,
acetones, and INV or refined materials
used In their preparation. The Minis
ter Of Finance is authorized to grant
exceptions to this degree.
A royal British proclamation pro-
hibits the importation into the United
Kingdom of the following articles ex,
cept under license: Cocaine and all
preparations, salts. derivatives. or ad-
mixtures prepared therefrom contain
ing one-tenth Of 1 per cent Of cocaine
or opium, raw or graduated, or pre-,
pared for smoking (including any solid
or seri-solid mixture containing
opium; air guns and rifles, sporting
guns. carbines and rifles oranges not
produced in the British Empire.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-04

July 10, when silver dropped to 90. the
lowest since its spectacular rsc this
spring. The recent slump was attrio-
uted to selling from Southern China
Liquidation from this quarter has now
apparently run its course, and tho
market is developing decidedly
stronger tone.
Bank of EngIand.-The weekly state
mcnt of the Bank of England shows
the following changes: Total reserve
decreased f2,l04,O00; circulation in
creased s673,oOo; bullion decreased
81. 4oi.5 ST.; other securities increased
f43S. 900; other deposits increased
s276,OOO; public deposits decreased
81 $780, 0O notes reserve decreased
90, OBS 900; government securities IN
changed. The proportion of the banks
reserve to liability this week is 2o.S6
per cent; last week it WAS $500 per
cent. Discount rates, 6 per cent
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-04

hard for a debtor nation to control
It's own trade. 1t Is the intention OF
the creditor to control it. The cred
itor's interest is often in conflict with
the debtors, and then, when it can
not be settled in any other way, the
creditor nation makes a display Of
force. The creditor nation Is al
ways one that has force to display;
otherwise the creditor had been a
fool TO lend his money. This Ad-
ministration definitely refuses to put
American warships behind American
loans in China, but the State De-
partment asks bankers to lend China
money because it would be patriotic
to do so. That Is emotion. II Is
poor collateral. There are now of
fering in Wall Street old Chinese
bonds, subscribed in London, at
prices to yield nearly 10 per cent,
and they are not wanted. 1t is not
that they are not good, but that
people are unaccustomed to invest in
Chinese things, and, anyway, one
can make 10 per cent on ones capital
in American industry. However,
China went to the wrong place.
Instead of going to the State De
partment for aid she ought to have
gone to the Treasury Department
and asked for Mr.. McAdoo. He
might have fixed it by telephone.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-04

The above rates express the cost Of
foreign money in terms Of the Amer
lean dollar. You buy an English pound
sterling for s4.75 11-16; the intrinsic
parity is s4.s6% 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 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.
II you calculate the cost Of the dol
lar In terms Of foreign money-that
Is. as If you were buying dollars with
pounds, marks or francs-its value
Yesterday and year ago would be
about as follows:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-04
Great Northern Paper
J.K.Rice,Jr.&CO.
Phones 1901 to 1910 John IS Wall 81, n Z.
E. W. BLISS COMPANY
Phones 3ool 10 1910 John IS wan Sc, \, Z

TO THE HOLDERS OF THE SIX PEI
CENTUM COUPON GOLD BONDS bearing
dat. April 10, 1907. secured by Mor;gau
and Trust Deed TO the Franklin Trust Com
pany. trustee.
NOTICE Is HEREBY GIVEN that z ",
BLISS COMPANY has elected 20 exercise
the privilege and option reserved 70 u
said bonds and mortgage and deed OF trust
OF calling and redeemins said bonds; az.
that the said bonds are hereby called. rf
may be redeemed At Franklin Trust Goa.
pany 1856 Montague Street. Borough
Brooklyn. City Of New York, on and af,u
october I, 1915. a. their par value. te-
gether with the ten per cent. premium pro
vided for in said bonds and by ths mort
gage and deed Of trust given 10 secure ~
same: and at the same time and place ne
interest due october l, 1916. on said oondA
will be paid
Dated. Brooklyn. ". Y. July 81. 1918.
= w BLISS COMPANY,
BY JAMES ". LANE.
President
HOWARD c. SEAMAN.
Secretary and Treasurer.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-04
BANK OF FRANCE
GOLD INCREASES
100000 Francs Greater
Channel Tunnel Plan
Favored.
BY YVES GUYOT.
E.. mInIs.s Of Public worts. Editr "IAsescs
EoonsmIaus u FInaneiera"
[By Cabs 70 Tho Tribunal


Eoensmlaus II FInaneisra"
[By Cabs TO Tho Tribunal
Paris, Aug. 3.-The Bourse liqui-
dation passed over easily and tran
GULLY. The adhesion of the British
Cabinet to the plans of the economic
conference at Paris is good news.
1t now remains to put the plans in
operation, and this is different
matter.
The Bank of France has added
100000 francs to its stock of gold,
bringing it now to 4,522,00O, 900
francs. but to this should be added
27t, OOO, 900 francs held outside the
country, but really part of the banks
stock.
Advances to the state have not in
creased. Banknotes in circulation
increased 100000 to 16,200,O oO,-
900.
The project for a tunnel under the
Channel seems more hopeful, as
many English ship owners are COM
ing around to the project. They are
beginning to understand that the
tunnel would never serve for freight
purposes. 1t probably would re-
place ships for passenger purposes
between England and the Continent,
but, on the other hand, it would
greatly increase the number Of voy-
ayers, which would be great thing
for English business in general.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-04

Those who complain about the In.
difference Of the stock market to the
extraordinary evidences Of prosperity
ought to consider the astonishing in
difference Of the ruble to the I'M
limited amount of enthusiastic Rus
sian literature that has been released
in this country.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-04
TAwsday, AwSssst 8, 1915.

II trading In stocks to rise and fan
could be reduced 30 an exact science,
speculation would cease, because
everybody would be right and there
would be nobody left to trade with.
So perhaps it is better as It is, If you
believe In speculation at all Many
people donr but dulness is no sign
that their ratio to all the others tends
30 rise.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-04
MORSE LINE GETS BIG SHIP
To Bring Minnesota from Pacific Coast
for Freight Service.

New London, Conn, Aug. 3.-The
Minnesota, one Of the largest steamers
afioat, has been bought by the United
States Steamship Company. Of which
Charles W. Morse Is president, accord
ing TO q statement made here to-day.
The statement was made by Mark l..
Gilbert, an official Of the steamship
company.
The Minnesota, which is at present
on the Pacific Coast, is to be used In
freight service, 1t Is understood.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-04

nounced that ten British submarines,
constructed in Canada, crossed the Az
lantic last summer, and there have been
other achievements. A story more %,
less romantic can be told about them
after the war.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-04

Bank Of France--The weekly state
ment Of the Bank Of France shows the
following changes: Gold in hand in
creased 6,679, 900 francs; silver in hand
decreased 4s3 900 francs; notes in cir
culation increased 106S37 900 francs;
treasury deposits increased 2,o71,Ooo
francs; general deposits decreased
114.444,oO0 francs; bills discounted in
creased 6,464, 900 francs; advances de-
creased 2,025.O0o francs.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-04
WEST Of EAST
What if People Should
Take Thrift Too
Seriously?
Taught by illumination In
Cleveland Amid Great
Spending.
Cleveland, July 81.

CteDetdnn, SWB oi'
Here wildly are all the contrasts
of modern time, especially two.
Spending is to render unto the C@-
sar of prosperity what is his, and
he demands it. Saving is a social
duty impressed upon the mind by
costly electric signs and in large
newspaper type, along with the ir-
resistible motor car advertising.
In Euclid Avenue the big shops
and the big banks are side by side
You are torn between two tempta-
lions. one to save and one to spend.
The windows of the banks are made
attractive. People stop as much IN
front Of them as before tho shop
displays. Want in old age Is want
of thrift in youth" says one bank
window legend. Naturally one
stops, and is perhaps arrested In
that impulse to spend. Begin now"
saws another legend. Begin with
one dollar, you can see the window
from where you stand" A few
steps on one stops again. In this
window is a great heap Of dimes, or
rather two. One is the heap you
would have saved by putting aside
a dime a day for ten years, and the
other is the heap the bank would
have added in the form Of interest
altogether s44S.27, or enough to
bay an automobile. II you like
bonds. there at the other side in a
frame is a choice, latest pattern, 5a
per cent mortgage real estate bond,
very delightful to the feelings, tao
tile, social, spiritual and other.
Summer outings" you read In
another bank window, and you won
der for an instant If the bank has
not forgotten its part and is going
to encourage the spender. No.
Read on. an camp or cottage a
COPY Of our booklet Table Savings
will prove invaluable. Copies free
on request" At Euclid Avenue and
Ninth Street is a bank housed in a
building Of classic design and pro-
portions that might be mistaken for
a municipal monument. At the cor
ner, level with the street, protected
by q railing, is a large electric light
frame. inside of which are travel
ling notices on thrift, alternating
with intimate appeals, such as
"Come in and get acquainted"
IMAGINE EXCESSIVE SAVING.
One is led TO reflect that if people
saved as much as they are exhort-
ed to save there would be so much
less money spent in the shops that
business would 90 smash and pros
perity would vanish. Stranger still,
the very banks that exhort you to
save lend money to the shopkeeper
next door who solcits you to spend.
Therein is a seeming riddle, an in
consistency, which some in their
haste call bankers hypocrisy. They
don't wish you to save really; they
want possession of your money in
order to lend it. But life is string
always vibrating from two ends.
Experience teaches that people, how
ever much you exhort them to save,
will not save more than is good
both for themselves and for bust
ness, at least hardly ever, whereas
in the shopkeeper's point Of view it
is always hard enough to make them
spend. So the impulse to save vi
brates against the impulse to spend,
and a rough equilibrium is main
tanned. When one impulse is over
strong the consequences bring about
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-04

Velocity of MonU-Ths expansion
In clearings last month, in comparison
with the two Immediately preceding
years, was countrywide, every section
reporting improvement, notably the
Middle Atlantic States. Figures in
detail by sections, compiled by "Duns
Review" are given below for three
years 1000 omitted:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-04
Submarines.

An army Of moro than 100000 men.
raised in the Dominion, has been fully
equipped from Canadian factories
and this in itself is an achievement of
no mean magnitude. After the men
leave Canada and before they are sent
from England to the front some changes
in equipment may be made. On active
service the Canadian forces are pro-
vided for in part by the imperial au-
thorities, it being understood that Can
ada will pay the entire cost of main
tanning tho Canadian troops, settlement
TO be made after the war, when an ac-
counting will be possible. But the fact
remains that the men from the Domin-
ion have been fighting with Canadian
made rifles and in Cansdisn-made uni
forms, and, 10 some extent, eating
Canadian food, and that, in general,
their equipment has been the product OF
Canadian factories. Then, too, certain
other important contributions have been
made by the industrial organization Of
the Dominion to the empires fghting
strength on land and sea, and with the
utmost secrecy. The Admiralty has an