davidaulloa/AmericanStories huggingface dataset:
Freie Presse fuÌˆr Texas. [volume] (San Antonio, Tex.) 1865-1945, 1917-04-21

Inter einem lingebelirel NH=
orang BON Meniden, mon ipriht
BON 10000 bis 100000 3nIdan-
ern, matroe am Sreitag Die Saupt-
fparaoe nno Die 3ur grinnerung an
ole G1Iaf}t BON Gan Sacinto per-
snuItaltete gIumenidlaht abgebot=
ten. Die Yro8eiiiony welfe nn6wei-
felbaft Die sroBte ibrer art mar,
bic ie in u~nierer Staot geleben,
muroe ourd Die itabtii6e Eoli5el
xun6 cine abtciIune aapallerie err
offnet, oenen Die &apelle Der 10.
S~nfanterie, Die 2. uno 4. teraniid)e
Snfanterie, Die /. teraniid)e aapale-
RTE, Die aapeae Der g.. aapaleric
uno Die 3. gnnoes : Artillerie folg.
ten. Inter 9orantritt bes @roB,
MarIdaas ldloifen iib benz gfilitar
ole IA prd1tigen oSIoats@ an, III
Dem Die @onigiil nit ibrem mellt
IN feenbafte Sdmetterlings ao.
thine a~efleioeten @efolee 9lat
aenommen. Sbnen foIgte Der So.
nig nit feinem SoIitaate in gleid
uradtigcm aoitiimer, @ouperneur
sserguIom uno General Beribing nit
sbren @cfofgen, Die tpunoerbabide
uno farbenpradtige 3obin SooS
VroaeIiion, sic it1otilden @iiroen.
trdaer, Der grGiioent uil6 Die 9iref.
loren Der 5ielta : @eielidoft nnS
cine an5obl prdd)tig oeforierter,
tells farafteriitiiher tells bnmori-
] itiIder 6foais ulio alutomobile, Die
anae BON aiisge5eidnetem @eidmad
Freie Presse fuÌˆr Texas. [volume] (San Antonio, Tex.) 1865-1945, 1917-04-21
Maverick ExecutIv KOmite.
(goIitiide Gnaeise.)

unO bobem aunitiinn 3eilgnis OBJ
legten. = 4benbs fano SIT ebren
Der &onigin uno ibres Soiitaates
i'm ct. @ntbonp @otel elm groBar=
tiger gaa itatt, mdbreno inn 8roBen
Spernbauie Die u6ielta Sete" aber-
mails nit eroBem Grfolg aufgefiibrt
mnr6e.
Sobalo mir inn 8eiib zines
Gremplars oes neuen itaotiiden
Jreibriefes linb, neroen mir oeniel=
ben eil1er 8eipred)ung unter5ie=
ben.
Die itaotilden Steuern iino
f1Gig. Ser Sermiit bis paltn iie
be5abIt meroen miilien5 erliIdt an
81. Mai. Nafber treten 3inien
nlo Strafgeloer bin5ll.
= @em tpirfli6 cine geniur ser
Yrelie eingefiibrt iperoen ioa, 10
fonnte Dor alien 9ingen Die 8erbrei-
tune liigneriiher Nadri6ten perbo-
ten meroen, gang gleid), aus peldenl
Eager Tie fommen. n3urmf CUR
Wabrbeit~ lonte 0as S6laeuort
iein.
Sim Montag mer0en Die Hri-
%marpablen abgebalten. Stimmt fiir
Gam 6. 9ea.
uno MN loQen Die 0eutiden
in Merifo aud Die SfuIo oaran ira,
gen. oab Die gmerifaner bort 70
unbeIiebt linb. @as Tie mol getan
baben mogenL Inn oas 81 beiperfitel-
ligen?
Mit ibrem 9efube ~erfreuten
ms unlere alten Srelnnbe Brof.
s. @iIIeri6 uno 6rib Bre-
fun aus Ga Grange nno !Serr 90.
s. MILLER aus 9orftopn.
6. u. Gapies bot I'M 9tomen
Ser San antonio &onle @uarb
ourd) Senator Sbepparo oas griu-
den an oas 4riegs Miniiteriunl
gerihtet, Die Tiireertpebr nit Sen
iloftge1l WdffeH 5l nerleDen.
3as 5eitprogramm mir lellte
abeno beitebt in Der felt mebrerer
Sabren nit 10 groBenl geifaQ aui.
genommenen Wurlesqne Naraoc,
III Der in iatiriid) : fomiId)er @eile
beroorragenoe DISQUALIFICATION oes
Stootes uno Staot in hofit gelun.
gener @eiie farrifiert iperoen. Dieie
Yro3elIiou beitebt aus cttpa % Elm,
8elneli Ibteilmgell uno beeinnt I'M
S:15 abenos. I'm 8 llbr finoet on
Der @lamo 9ia8a Die burlesfe SRI.
nung bes a0nigs unb Der aonigir
Der 2ultigmad)er itott; oieier 3ere.
monte miro Elm poaitdnoiaer Sol.
itaat bon 3orrelt II. Mdrrerinneu bel
iuobuen. Sll ben oeridieoenen gro.
BEN 9otels meroen gdne mo I'm
terbaltltngen al oenen aud oaS
grobe Bubliflm tell uebnlen fam
abaebalten.
- Mebrere bunoert Sffi5iers-as
pirnnteu baben iid i'm @illltcr Soiel
Freie Presse fuÌˆr Texas. [volume] (San Antonio, Tex.) 1865-1945, 1917-04-21
Oos lonbmirtIhaftlid,e 9epa

= Vas ACKNOWLEDGEMENTS Sepur'
tement Ser Sllinois Staats llniper-
litat madt befannt, oaB Die Sunoes-
regterung our6ous nidt beablif}.
tigt, lGmmtlibe 5arnten oeS Gan
oes ouf aagemeine &ebnrng 81
iibernebmen, ionoern Die 5armer nun
aufforoert, lire Sarmen 51 ertpei-
tern unb bisber UNDERWRITERS Brad.
lano 5u bebalten.
Freie Presse fuÌˆr Texas. [volume] (San Antonio, Tex.) 1865-1945, 1917-04-21
Gie -sesislatur.

genator See bat cine nelle Sful-
bidder 9iG einge6rndt, mte lie
@ouperneur Sergulon III leiner got.
ihaft perlnngt bat.
Freie Presse fuÌˆr Texas. [volume] (San Antonio, Tex.) 1865-1945, 1917-04-21

Sic uSreie YreHe" tit alltoriiiert,
Germ Sam 6. 9ea als &anoibat fir
Mabor in Ser acknowledgement 8rimdr@
!nnhl am %, @pri( inns s. Mai an3u@
finbigerl nnb bittet UNI Die ltnteritieune
nller @d9ler.
Freie Presse fuÌˆr Texas. [volume] (San Antonio, Tex.) 1865-1945, 1917-04-21
@abl Nlmset9em.
SIR Wapor.

Sic uSreie 8reIe" lit nltoriiiert
Germ WaltDn .. SpDO als &nnoi0at ftl
MaDpr in Der acknowledgement Trimar
nail am %. Ipril an5ufiinoigenJ nno e.
bittet I'm Die l1nterititbung aller ieinel
6reurlbe unp Stimmgeber.
Freie Presse fuÌˆr Texas. [volume] (San Antonio, Tex.) 1865-1945, 1917-04-21
lokdies.
~gOransFdtIides Better.

sir Gan alntollio mo ll~nlgegello.
0ente obeno nno Sonntag: flor nno
aD1rmer.
Freie Presse fuÌˆr Texas. [volume] (San Antonio, Tex.) 1865-1945, 1917-04-21
Gptfpnfamen. SrDSufte.

W Suft 0attotitpt <t1 IL II ~
@alpeiton, geitern. 1900 gts.
Gpttpnramen. TroSnfte.
San 4ntuniu, Ser, ri. Mpril 1917
Yrime grnbe Cotton Seep Oil. 1902
Gents Der @nlone.
Mem Yprf, 81. Mpri[ -Spot $15.45;
Ipril, $15.45 Ii. $15.75; Mai, $3.50
1851; Sum-, $3.50 nno 1854;
Suli, $3.50 unb 1851; M1ignit.
$3.50 unb 1852; September, 1851
nno 1883; Sftober. 1854 nnS
$3.50
6arm.Truoufte.
San antonio. Ser, 81. Ipril 1911
Butter ......... 23c-30e per pfunS
gier (nur friide) ....31kc per 9be-
3ibner ..,..... 16c-25e per Rfuno
Enrfebs. ........2 zoe II. 22e per Yfo:
Wet5en ..-. $2.1oR per Snldel
&orn ..-........$1.I5 per 8uld1et
Qafer ............ 9Uc per UMlDet
5eu ........... $4,000 per Sonue
@emiie.
9artoffrln, California nno COLORADO.
$3.50.
siibe a%artoifeIn, gumptin gam.
%Z.lo l1o 800.
SfpIeoelnt Segas erDltal War, $3.50
nno $3.50 per erate.
8obneu. Colorado, Riito, Der Stpt.,
$3.50; California @aboits, per cut.,
$3.50; Ginfs, $12.5 so; Gina. $3.50:
Iapb, So; gladebes. $3.50; Houno,
Green, per 8uibl Campers. $3.50.
8omdten, Serns, 6 Scribe, $500.
@aoiesden. 35e I. 1 9bo. 8iinoeI.
0ahf 90 az nsr 1oa Tf,,,S
@riiner gfeffer, zoe per gfuno.
SpnluI, 1oe PEE Ouimel-
9Iu'e s SrD On PAU per 0dfitper.
9tia. SS;Vo Inr gnl1el.
Freie Presse fuÌˆr Texas. [volume] (San Antonio, Tex.) 1865-1945, 1917-04-21

Sc nenieer Sreuoe Die Menldl-
belt am Daiein bot, oeito eifriaer
ltiir5t iie iid ms @ergniigen.
Freie Presse fuÌˆr Texas. [volume] (San Antonio, Tex.) 1865-1945, 1917-04-21
NNir 10 " ter II s;.s GGrtra : Yrdnit upn $3.50 ii Saar
Slit u ''s ss + s;s: Ggrtra yrimit uon SIS ID Saar
NNir 20 a ter sss: GGrtra Yrdnlie uDn $500 ii 8aar
Slit p ''s ter s;ss GGrtra Hrduit uon S6,S ii Saar
Slit me5r aS q q as ter s;ns Gggtraprimit pon s. III Saar
Slit uebr ds 50 as t.. :;s: glytrWrdmit uOn S16ia gaar

Der @pridlag lit einiad nnb berianSlid senns. Ner einen
nencm M6pnnemten Der CUR 3it nidt SeTer Der rJree EreRe1 1T.
aeuinnt, fuleftiert $500, crIGlt, rdp. bebGt babpn etnem Collar tins
i1idt BEN anoeren Collar init Der senanen Mbrehe os gefeaers Elm.
Nnserbem febt aer audi mod cine Grtra 8rGnie in Mmsfdt faQs Die
3nh( Won sem Nbumnemten pber barber erretdt uirS, Die GgHafTra.
me ienoen mir Sen Oasu geredhsten ppn nnierer Office aus brett.
9e bier semadte Dferte 1T fit ieoea int peieu 0ebieie bs staa.
ts often. Sober famn Fb oaram beteiigen. Nir bieteu nr gaarpreHe
an, neil glo INNER ieinem @ert bat nmO Sober bafar anidaffen uaS
faaieu fam, ips CT serabe brandt.
Nae, sic BON bnler Cfferfe 0e6rand MAIDEN nno inter ben obtn &c.
NeGteu gebimsumaen Mbpmmentem fit sic nJuie GreHe fit SeEas" Jam.
mln moQen, inb gebeteu, Td NIT ns nnpersagltd in gerbinoans 81
iescu, bamit mir linen ehuaise gepinidte ansfabrIidere Mmsfnnft e.
telen fOmnen. Die lniHnmg gbt ben geteaern brett bon nnkrer 81
lice ~. Sicie cirrts fat MIR @alfsfeit bis gum 80. SUM- 1917.
vTreie Grele fir Seras".
Freie Presse fuÌˆr Texas. [volume] (San Antonio, Tex.) 1865-1945, 1917-04-21
Sir Stener GpmmiiIar.

Sic nSreie GreiIe" lit autori5iert
Serrn Sam u. Sptmble als &anoioai
fir Gteuer : &onlmi1dr in Der beborftes
benben 9%rimdrtpabl am %. Ipril mnb
8. Iai a%n5ufiinbigen unb bittet I'M Die
unteritibung aIer @dbler.
Freie Presse fuÌˆr Texas. [volume] (San Antonio, Tex.) 1865-1945, 1917-04-21

Sic nSreie 8reiie fir Eegas" lit auz
toriiiert. 5. 6. 2ainm als &anbioat fir
oas Mmt bes @pmmiiidrs fir 8eiteue@
rlng in ben 11dditen Brimdriuablen aire
5u5eisen nnb ct eriudt INN Die Inter
itiisung ieiner Sreunbe lt1o Der Stimm<
deber.
Freie Presse fuÌˆr Texas. [volume] (San Antonio, Tex.) 1865-1945, 1917-04-21
Oiiltio bi5 5um 80. SUIT 1917,
Yr0iiulten>S6ertf,
Gin &ori6lag at nuiere Trtlnoe.

Ia es umnnGsld III, ale 9innfte nnb Counties oes staahs Snrd
Neiienbe 6ear6eitem at lafen, mnften wr anf anbere Aftfcl 5nr thinner
arosereu gcr6reituns umIeres glmtes iiunen nnb iir fS ST BEN 0nt'
idlus acfommen, annebmbare Gramien fir nene I60nnenten, Die ms
einaeAift tpcrben, ams5nieben.
0ir planen nbt sic @cramialtmms clues Iogcnannten aontehes,
we RI i emaliden 3eimmgcn ubHd+ lit, fonbern mir uo0em onrdb Aus.
,ahluna elmer liberalcn aummtRipn Sreiwiaise anptrben, Die obae be-
iouoere WIfe mnb Mnirensnna fd cine Nebeneinnabme 81 oerbaften
mIniAen.
gu bieiem 3wede pfierieren mir fir jeoen nenen Sabresabonnentsn
eine aummiIiun upn Loo, e inem 9pllar. 0as 8odbenbdaft Der
vHreie GreIe fir Seras" foiet $500 per Sabr. 0egen GinlenOnng bon
s1OO fuerScu ur alo oas Slut an irgenb cine uns anfgesebcne nene
Nhuunements NbreHe Idifen.
Freie Presse fuÌˆr Texas. [volume] (San Antonio, Tex.) 1865-1945, 1917-04-21

Serrn Sam u. Spimole als &anoiDai
fir Gteuer : &ommilidr in Der beborites
benben Yrimortpabl am %. Mpril itno
8. W1ai an5lfiinbigen nnb bittet I'M Die
llitteritiibung n0er @dbler.
Sic uSreie Breiie fir SeraS" lit auz
toriIiert. s. 6. 2attm als aanoioat fir
oas @mt bes Gommifdrs fir 8eiteue>
rung in Den 11dditen 8rimdriuablen aile
5uSei9e1, nnb ct erIudbt UNI Die Inter
itiieung ieiner Sreunoe llno Der Stimm<
ge6er.
Sic ,Sreie 9reiie~ lit autoriiiert,
Germ Sas 5. 0arlanb als 8nltoioat fir
@ieoertpabl fir bas gfmt bes Stemer=
GpmmiTGr in Der fommenben Rrimdrs
fuabI am %. Npril a1Sufiinoigen, nnb er
eriud5t alle feline Sreunbe lrb Stimmge%
Der nm beren ltnterltibnng.
Scr. $. 6. 9idinipn finbist feline
Ganbioatur fir bag Mmt bes Sinan5s
unb Steuer : aommiidrs BEL Der ndd)s
item BrimGrs unb 6anpt @abl an.
gr er5udt Die Burger, i'm bebufs @ns@
aleidnng nno grnieorigung ber Steuern,
Iripie our @eitenernng bes gal5en Ser
moeens 81 unterItiten.
Sir Gommiiare fir Strafen uno
6ffentlide @erbsHernngen.
Sic .Treie Yreiie fit Segas" lit als
toriliert, Sbomas 6. Neliun als &anoi1
bat fir Sas Ntnt beg &ommi1Grs fir
Straben unb offenttide @erbeierungen
in ben beborItebenoem Yrimdrtpablen ans
aufiinbiaen lilto er eriud-- llnt bic linz
feritiiBung leiner Sreunoe unb Der
Stimmaeber.
Sic .Sreie greie fir Seras" lit au@
tori1iert, 2pnis 6emermarn nlS &anoi~
Dat fir BAG glunt bes apmmi1drs fir
StraBen uno offentlihe @erbe6erungen
in Ben beborite1enbeu Yrimdrtpablel
ansu5eieen unb CT eriu6t nm Die Inter
itiibung ieiner Srsunoe ltno Der Stimm.
geber.
SummiiGr fir Harfs nnb SanitGt.
9n Die 8abler bon Gun Intonio.
Sails meme 9ienIte in ben lesten 5tpei
SaGren guren grtpnrtnngen entipro6en
haben Iolten, bin i1 bereit, gldj in ben
nddIten 5tpei Sabren su bienen.
MaD 2ambert,
@ommiiidr fit 8arfs unb Ganitdt.
Die .Sreie Srefe tur Seras" lit alie
toriiiert. Or. &. 8. Gbropfbtre als aanz
bibat fir bas amt bes aommiiidrs fir
9nrfs uno Sanitdt in Der bebprlte9ene
ben 8rimdrtpabl an5ufiinbigen. CT err
iuht Inn Cure ltnteritiibuug u1o Stims
me.
Sir 8olisei- mnS Sener 9ommifar.
Sic .Sreie 9reIie fir Eeras" 1T oilz
toriliert, Gpbert S. 1tbr ais Gaubibat
fin oas amt bes Soli5ei< unb Seuer<
ipebr : &ommiHdrs on5ufiinpi9en. gr
erfl6t feline Sreunbe I'm lire Inter
ftiibuna.
9ie .Sreie 8reiie" lit antoriiiert.
Germ George u. Coulter aIs aaitbibat
fir oas Imt bes 8plisei- uto Seuer.
9ummiiars in Der beborite6enbeu Sri
mdrfpdbl an3utiinbieeu uuo bittet I'm Die
llnterItiisung aIIer @dbler.
Freie Presse fuÌˆr Texas. [volume] (San Antonio, Tex.) 1865-1945, 1917-04-21

seipis Maperif fiinbigt iih hermit
formen als 8nnbibat fir bas antt oes
4olisei uno Seuer &emmii5drS an uno
iuiro bic 1lnteritiiune bon ireeub einem
un6 alien 8iireern Gan Gntonto's gu
ifdben tpiiIeu.
Freie Presse fuÌˆr Texas. [volume] (San Antonio, Tex.) 1865-1945, 1917-04-21
sir 9Olisei- nnS Sener 9ummiTar

Sic nSreie NreIie fir Eeras" IT ol@
toriiiert, Go6ert s. tbr ais aanbioat
fin oas 4mt bes Soli5eis unb Seuer<
ipebr : &ommifIdrs on5ufInbigen. gr
erildt feline Sreunbe Inn lire Inter
ftiibuna.
Freie Presse fuÌˆr Texas. [volume] (San Antonio, Tex.) 1865-1945, 1917-04-21
Waret
Naummole.

Vuu WIUUue.
San antonio, Ger, 1871 gts.
@alpelton, geitern, 1900 gts.
Freie Presse fuÌˆr Texas. [volume] (San Antonio, Tex.) 1865-1945, 1917-04-21

Sic ySreie Irelie~ lit autoriIiert,
Germ Sas s. @arlanb als 8anbibat fir
@ieberpabl fir bas @mt bes Stemer=
&pmmiiGr III Der fommenoen Brimdrs
iuabI an %. Npril an8ufiinoisen, nrb er
erIudt ale feline Sreunoe ltuo Stimmge@
Der INN berer lInterItiibnng.
Freie Presse fuÌˆr Texas. [volume] (San Antonio, Tex.) 1865-1945, 1917-04-21

9ie .Sreie 8reiie" lit autoriiiert,
Germ George u. 2uiuther ais aa1bioat
fir oas Gmt bes 8pIisei- nnb Seuer.
aummiiiars III Der beboritebenbeu Sris
mdrfpabl an5utiinbieeu uuo bittet I'M Die
llnteritiieuug aIIer @dbler.
Freie Presse fuÌˆr Texas. [volume] (San Antonio, Tex.) 1865-1945, 1917-04-21

Die oSreie Srene tur Seras" lit aii@
toriiiert. Or. &. 8. Sbrppibire als aanz
bibat fir bas Amt bes &orlmiIidrs fir
9nrf5 uno Snnitdt III Der 6epurite6ene
ben 9rimdrtpabl an5nfiinbisen. ct err
iud6t Inn Cure llnteritiibuug uno Stims
me.
Freie Presse fuÌˆr Texas. [volume] (San Antonio, Tex.) 1865-1945, 1917-04-21

Scr. $. 6. 9idinipn flnoist feline
a~anbioatur fir bas Nntt Deg Sinan5s
unb Steuer : aommiHdrs BEL Der ndds
item 8rimGrz unb 6aupt Wab[ an.
CT eriudt Die Burger, i'm bebufs guse
eleid]ung nnb @rnieorisung Der Steuern,
lpipie our @elteuerung bes 9an5en Ser
mogens gu unterItiiben.
Freie Presse fuÌˆr Texas. [volume] (San Antonio, Tex.) 1865-1945, 1917-04-21
aummiiIar fir Iarfs mno Samitat

GIN Ole 8G6ler bon Gun antonio.
Sails meme 9ienite in ben lebten atpei
sSaGren guren g%rtpartnngen entipro6en
6aben ioaten, BIN i1 bereit. gii6 in Sen
nditbiten 5tpei Sa6ren 81 bienen.
MaD 2ambert,
aommiiidr fir 9arfs unb Ganitdt.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-04-15
Responsibility for
Credit Is Widened

The bankers acceptance is defined
by the Federal Reserve Bank as "a
bill of exchange Of which the ac-
oeptor is bank or trust company or
firm, person, or company or cor
poration engaged in the bushes of
granting bankers acceptance cred
it's" In other words, bank &C
ceptance consists Of the extension of
the banks credit TO a customer; that
is. the bank for a consideration per-
mits the customer to use the banks
credit. The credit thus granted, may
be either secured or unsecured, de-
pending entirely on the character
and financial responsibility of the APP
plicant.
The Importance of the acceptance
o. a credit instrument is based upon
the division of risk. In the ordinary
loan transaction the lender and the
borrower are the only parties con
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-04-15

TIME acceptance, though long
used as an instrument OF
credit i'm England and on the
Continent Of Europe, being one OF
the contributing factors to London 5
supremacy in the world Of finance. IS
a feature Of banking about which the
American business man still has
much to learn. Three years ago this
form of credit was scarcely known
In the United States. Now there Is
q large and ever broadening market
for such paper.
To show how rapidly acceptances
are coming into favor in the bust
ness and banking field, one has only
to look at the report Of the Federal
Reserve banks. During 1916 these
anks alone purchased for invest
ment in the open market $685. .915,-
g73 of trade and bankers accept
ances. This was an increase Of
$321.O70.973 over the amount pur-
chased in 1918. And this is indica-
tive of only a portion of the bust
ness of buying and selling accept
ances that is now going on.
There are two kinds of accept
ances, the bankers acceptance and
the trade acceptance. They differ
only in the character of the acceptor.
in the case Of the trade acceptance,
which has not yet come into common
use in this country, but has long
been employed abroad, the seller Of
goods draws bill on the buyer and
II the buyer finds the draft in order
he writes accepted" across its face
and returns the draft to the seller,
who, if he wishes, can discount it at
his bank. 1t then becomes a trade
acceptance circulating at compare
lively low rate of interest. In the
case of the bankers acceptance the
buyer of merchandise arranges with
his bank to have all bills drawn
against him accepted by the bank.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-04-15

somewhat by reason Of the fact that
they have been affected by the ri1e
in prices. which necessarily demands
"A larger amount Of funds to handle
the same turnover. Nevertheless,
they give a good idea Of tie vast
Improvement which has taken place
since the war began.
There are many things in the
record. however, which cannot be
treated statistically. but which are
even more important a measures
Of the country's progress. Scores OF
American industrial companies have
taken a new lease Of life. and by
the conservation e the profits made
cut Of war have placed themselves
in strong position to meet the
needs Of war on a larger scale, or TO
face the rcadjus.ment which may
come with the return Of peace. New
Industries. producing industrial eS-
sentials such as dyestuffs and chem
icals, for which we had always re-
lied upon German factories, have
been established, and promise to
thrive against peace time competi-
ton.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-04-15

\ llli VI
Pig iron orders, US

This table, in conjunction with an
other presented below, gives point
ed illustration of the working of in
adequate supply and distorted de-
mand upon price. In spite of the
fact that all previous production
records were left far behind as the
race to speed up output gained head
way. and that at times plants were
operated continuously at full ca
pacity, with additional units being
added as fast as they could be con-
structed. it was impossible 10 keep
up with the constant expansion Of
consumers requirements. This con-
dition accounts much more for the
rise in steel prices than does credit
imitation. Proof of that is found in
the fact that whereas the price of
steel bllets-the price movements Of
which are representative of the gen
eral trend Of steel prices-during
the first quarter OF this year was
almost $50 per cent above the pre-
war price, the general level of com
modify prices. as indicated by Dun's
index number, rose only A. per cent
in the same period The comparison
follows:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-04-15

cerned. The result of such a trans
action is that the amount of the
lean is tied up for the time being, and
Is therefore not available for further
use until the borrower returns the
money.
The acceptance idea was developed
rs bankers abroad who sought a
method by which sums loaned out
could continually be kept liquid 50
far as possible. A well known writer
on finance and banking tells of the
development and nature Of this IN
strument of credit as adopted in
London:
1T was found that if several
parties were made responsible for
the same loan instead of one party
alone, there was the double advan-
tage of accommodation for the party
needing the money, and utilization
Of the same money for other pur-
poses. Therefore, they arranged
that loans should be made on several
signatures. In an ordinary transac-
ton the manufacturer sells certain
goods TO "A buyer. The buyer needs
money to purchase the commodities
in order that he may be able to sell
at a profit. The bank wants to use
its money at a profit, and is always
willing to accommodate the buyer.
SO it practically made no difference
so far as the risk was concerned
whether the buyer alone signed the
document, or the buyer, manufact-
urer and the bank signed the same
document.
"As is we'll known, the essence of
banking is confidence. The three
parties mentioned must have conf
dence in each other, otherwise no
business would be possible. When
the three parties sign document,
that document, instead of being
merely a loan note, actually becomes
for all practical purposes actual
cash. The argument is that if at
the due rate of maturity the buyer
is unable to meet the note, the holder
of the note can fall back upon the
manufacturer as we'll as the banker.
This is purely an equation Of
chances. In other words the chances
Of three parties being unable to meet
the notes on due date are only LOO
of one party alone being unable to
meet the note. Consequently. a note
of three signatures can be considered
as money. In the language of bank
ing. such note is called an accept
ance.'
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-04-15
Provincialism
Is Thrown OFF

The United States has changed
from debtor to creditor nation
In adjusting the great trade bal
arcc built mainly on the needs Of
the Allies, we have made loans to
foreign countries aggregating near
Is $3,OOO,OO0.00O, and have repur-
chased between S1,500,000000 and
$4,000, 100000 of the securities Of
domestic corporations formerly held
abroad. At the same time, we have
lost that provincialiSm which ham
pered US in our trade relations with
other nations. American banks
now have adequate representation
throughout the world, while our do
nestle banking resources have been
so increased as to place the coun-
try in a commanding position in the
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-04-15
PI 7SINF e READY FOR WAR OR PEACE.

the new and rising scale which has
continued up to the present. While
both labor scarcity and high prices
tended to restrict activity in certain
directions. no halt in the general
prosperity has been administered
thereby because Of unprecedented
operations in all but few lines.
The restriction has been most felt
in the building trades. Cost Of con
struction has been 50 high that
buildings erected under the condl-
tons which have obtained for the
last eighteen months could not be
expected to earn 4 fair return on
the investment should normal con-
dtions he restored.
Two of the best measures of bust
ness volume are bank clearings and
loans. Taking the figures in the
case of the former for the whole
country outside Of New York
(where speculation plays a more i'm
pcrtant part in the returns) and
Of the New York Clearing House in
stitutions in the case Of the latter,
il will lac seen from the following
table that the turnover in the last
quarter Of this year was SO per cent
above that for the last quarter of
Deace. while loans we're up 70 per