davidaulloa/AmericanStories huggingface dataset:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-06
a Farm Necessity

Tho action OF the government in CIV
ing the canning industry of the country
preference in the allotment Of sheet
steel is pretty certain to work an acute
hardship on the implement industry OF
the country. With the canning inter
Its thus favored. it has become neees-
Sary for the steel manufacturers 10
80, down or the supply forwarded 20
o.be~ industries. After July the
e.ocl mills have announced that only so
rer cent OF the normal requirement: OF
HE implement industry can De fur
shed Sheet steel is absolutely nee
e4ssry in the construction Of binders.
Probably two-thirds OF that used IN the
imnlemant industry go into binders.
one hundred thousand new binders are
sold i'm America every season. Each
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-06
Cooperative Coal Storage

A suggestion made recently by the
engineer Of an industrial plant for re-
lieving the situation developed by the
shortage of coal appeals TO US as a
practical solution to the problem, and
should be given consideration by
owners of small industries with COM
munity interests. Experience during
the last few months has shown that
the industries which have suffered
from coal shortage are those which
have no, or inadequate. coal storage
capacity. To equip and maintain
nearby storage yard sufficient in size
TO insure against railroad tieups and
belated deliveries is an expense TO
small concern which in many case
seems unwarranted. but the suGges-
tiou tnat industries Of a community
combine .heir interests and maintain
a storage ward OF ample capacity to
meet all likely conditions OF coal
shortage seems well worth putting
into effect. Coal storage is no longer
an experiment There is. of course,
some loss Que TO weathering, but this
is largely offset BY the advantage OF
having an adequate supply OF coal
available at a uniform price. Such a
yard should be equipped with the
most convenient means for handling
the coal to and from railway cars. in
dustrial cars or trucks. according 70
The facilities at the plants for han
ding their coal The yard MAY be
located IT a reasonable distance from
the plants il supplies so as 20 take
advantage Of the low price Of real
estate. but convenient transrortation
facilities are essential.-Prdctic"I
En0iueeP.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-06
From Trade Journals
The Future

Listening TO the wails,of the pessi-
msts is an Improbable occupation to
even one who is unoccupied. Unfortu-
nately. there arc always more pessi-
mists i'm the world than optmists.
However. there are few OF the latter
loft. One was discovered yesterday.
He summed up the situation IN way
20 restore confidence and to bring
ray OF sunshine into an atmosphere
Of despair. There is more tobacco on
hand including cigar leaf. than ever
before; enough, in fact. to keep
factories hummng FOR two years 20
come. BY that time the war will b
over. ard prices of leaf tobacco are
sure to take drop. If the government
taxes nc hope they make it large
enough 50 | can pass 1t on TO the con-
sumer. The consumer smokes more
when ne is excited, and we have lot
of evidence during the last few months
to show that he is getting very mucn
excited. English cigar and tobacco
manufacturers made a lot OF money
last year, and conditions there are far
worse than in the United States. Why
should we worry? Besides 1t is wrong
and unpatriotic to start anything tina
might lead to a stampede and the
DISCRIMINATION of our trade. We ali
cxpcct TO make sacrifices. but at the
same time | see no reason why we
should expect TO face anything Ike
ruin. ON the other hand. | am conf
dent that the business man with brains
will coin money out Of the situation
during the next twelve months.
TObGccO.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-06

One of the minor influences max
ing for lower stock prices last week
was a rise in the rate for call loans
to AZ per cent. Not much business
was done at that figure, but the rul-
ing rate for the last three days was
4 per cent, at which point it closed,
Call money is, therefore, higher than
i, has been at any time since rates
returned to a normal basis after
the furry attending the December
"peace" break, which caused a jump
TO Is per cent. The current rate IS
not so high. however, as to be an I'M
portant stock market factor. The ad-
vance in money was due to the call
ing of funds in connection with gov
eminent financing. 1t is interesting
chiefly because it suggests the posi-
bility of a much sharper advance
when payment Of subscriptions to the
big loan begins. That there will be
any undue advance at that time IS,
however, considered unlikely by
financial authorities. There is every
reason for believing that the loan OPP
GRAFTON will be handled in such
manner as TO cause relatively little
disturbance in the money markets.
it is altogether proba-
BILE that a gradual rise of money
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-06
Saturday, May ), 1917

Now that the big loan is being Of
fered and efforts are being made to
stimulate rapid subscription, it is diff
hcult TO understand why information
which is absolutely essential to any
one who wishes to subscribe on a
business basis is withheld. The Treas
my Department should announce
with the least possible delay the de-
nominations Of the bonds, their ma
turity and the terms Of payment.
Until that is done subscriptions will
have to be made on a purely patriotic
basis. whereas it is desirable that
they should he on = business bass so
far as IS possible.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-06
Dollar Exchange in Spain
American Currency Unit Dis
places Pound Sterling in
Malaga District

Increasing numbers of Spanish eA-
nor,ers are disseminating the old estab-
lishcd practice Of quoting in pounds
sterling to their American customers
and are making sales in American cur
ro,cv This change is quite acceptable
TO BUYERS in t9e United States.
The American consul in the Malaga dis
trict Of Spain writes that the increased
and sustained movement OF eXpott.s. ron
that district has produced quantities Oh
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-06
Relevant Facts

Alaska Gold Mines-The company re-
ports for the first quarter OF 1917 a
total operating profit OF sll3,0i3. Gross
revenues were s539,iSs, operating ex-
penses. Si30.74s, and other income
81 1908. Charles Hayden. president Of
the company. says IN the report:
These results compare closely with
the average figures for 1915 During
the month Of March. however. the com
pany treated a total OF 2l7,706 tons. an
average of 1923 tons a day. This is
decidedly the largest total the com
pany has attained in any month.
Furthermore, during March both the
loss in tailings and the cost per ton
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-06

rates will take place in the course
of the next few months. The day OF
abnormally cheap money appears to
be passing, and that may not he a
bad thing. since it will tend to check
overeXtcnsion.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-06
Nevada Consolidated
Makes Good Showing
Net Profits for First Quarter
Exceed 100000, Despite
Weather Drawbacks

Net profits Of $3,02l9l6 are shown
BY the Nevada Consolidated Copper
Company FOR the first quarter Of 1917.
For the ,pondng quarter Of last
year tho total was S25j5.953. Based
on tho earnings for the first three
months Of this year the company
should cam about SIS share for 1871
compared with $3.50 a share earned m
1916 Tho income account made public
yesterday compares with 1916 as fol
lows:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-06

binder averages 80 acres a season.
Should the binder production be re-
duced 80 per cent. it would result in a
decrease in the harvesting ability oil
the American farmers of 100000 acres.
The government in its 1915 crop anal
ysis showed an average yield Of 16.I
bushels 20 the acre This would de-
crease the country's wheat supply by
az 100000 bushels. Binders are also
used in the harvest of oats, barley and
rye. A proportonste loss IN these
crops would also follow. Implement
and Tractor Trades Journal.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-06
FINANCIAL MEETINGS


Thc annual Meeting Of the stockhoIders
OF the STANDARD GAS LIGHT COMPANY
OF THE CITY or NEW YORK Will b.
held al Tho office OF tho COMPANY. Room
No. 90G 80. 80 East 18Th street, New
York CITY. on WEDNESDAY May stb. 1917. al
~ O'Clock NJ. Tor the election OF Directors
and the transsc elton Of such other business
as may come before the meotine.
JOHN T.. SANBOiiN. Secretary.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-06
Current

The above rates express the cost Of
foreign money in terms Of the Ameri-
can dollar. You buy an English pound
sterling at. say, $4,75H The intrinsic
parity is s4S61s per pound. Thus, you
saw either that pounds are at dis
count or that dollars are at pre-
MUM. which is owing to the fact that
in England the demand for dollars
With which to settle accounts in this
country IS greater than the demand in
this country for pounds with which 10
settle accounts in England.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-06

The foreign exchanges have moved
narrowly as a rule during the past
week with a decline in Russian rublcs
furnishing the principal development
Of importance. Weakness Of the Rus
san unit Of exchange was apparently
based largely on sentimental reasons
arising out Of the reports Of internal
strife and political unrest in Russia.
The possibility that Russia might make
separate peace with Germany was also
"a factor in forcing ruhlcs below p
cents and within close touch Of the low
record level O; the war period. Pro-
poets Of Eussia's getting substantial
dollar credits from the United States
have been more than Offset by the news
from Pctrograd in markctwise effect.
Other Allied exchanges have been
more or less steady, with sterling rates
holding firm At the "peg" level Of
S475ie for demand bills. Since the
United states granted a 200,000,0o0
credit TO England the sterling exchange
market has been practically AT stand
etill 50 far ms fluctuations 60. Reports
from Washington Yesterday that Eng
land would be granted another $780,
100000 credit we're without influence
on current sterling rates. Italian lire
declined from SOB 20 100 toward the
close Of the week, despite the 100000
600 credit TO that county, Just arranged
here. Francs about held their own.
Neutral exchanges have been quiet.
If YOU calculate the cost OF the dollar
in terms of foreign money that Is, as
if you we're buying dollars with pounds,
mark or francs-its value at the close
Of last week. as compared with year
AGO. would be about rs follows:
Cost OF one dollar.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-06

Closing rates yesterday. compared
with a week ago. are given IN the table
below. American bankers have sus-
pended all dealinEs IN German and
Austrian exchange. so that daily quo
tations for either marks or kroucn are
no !onCcr available.
week
Yesterday. ago.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-06

The last week was a trying ono
tor the stock market. While the vol
umc O. transactions was not large.
stocks were subjected TO almost con
unuous selling preSSurc-princlpally
of the professional sort, but includ-
ing also some real lquidation-and
for support had to rely mainly on re-
purchases by those who were salts
fed to take the profits which reccd-
ing prices afforded from time to time.
The Street, by which is meant in this
instance those who make living out
of stock market fluctuations. was al
most universally pcssimiStIc. Wall
Street Is often bcariSh without good
reason. 1t is prone to interpret UNI
favorably anything about which
there is an element of doubt. But
this time there was not little juStl-
fication for the gloomy view which
was generally taken by traders. Not
that favorable factors were lacking.
The success with which the govern
rent loan is meeting is a thing MAX
ing for cheorfulness, March railroad
reports arc, on the whole, much bet
ter than had been expected, and there
are few in the financial district who
do not believe that the railroads will
Get a good part, if not all, Of the IN
crease i'm rates which they are seek
ing; also. there is a general DISPOSE
ton TO regard the taxation outlook
less pessimistically. Taxes will be
heavy, but not SO heavy. Wall Street
now believes, as 10 stif1e industry,
unless there should be a sudden
change in the situation. Besides, the
volume of business, apparently. IS
rndiminishcd. Bank clearmgs and
other statistical induces keep on max
ing new peaks each week.
But there were bigger market fac
tors than these, and the net result
was that at the end of the week
PRICES averaged from four to five
points below the previous Saturdays
c.ose. Part Of the decline is to be eX-
planned by the fact that some hqui-
dation, particularly of the higher
Grade securities. resulted from the
/ Cfering Of the government loan. But
the major influences were Russia and
the submarine. Obviously, if Russia
should make peace with Germany,
the Allied cause would suffer, and
this country is now one Of the Allies,
actually if not technically. But over
shadowing even that as a cause for
uneasiness was the penetration OF
the fact that the submarine peril is
much greater than had been realized.
Reports from Washington and else
where on this subject were gloomy IN
the extreme, but apparently well
founded. And if these reports are
not exaggerated, they mean that the
United States has a task ahead of 1t
the like Of which never confronted
anv nation. We must supply all the
food and other things which the AL
lies require, besides men and money
and, what is just as important the
ships wherewith to carry these things
to Europe. And TO do that the ma
ton must concentrate all its energies
on war, perhaps largely to the eXclu-
sion of other things. Otherwise, we
shall have to face the possibility OF
German success. That, at any rate,
was the way in which a large section
of Wall Street interpreted the news
and it affords sufficient eXplana-
t;on of the weakness of stocks.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-06
Quoted dollars 10 the poundJ

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, 1917-05-06
Money and Credit
Federal Reserve Banks
Wcshia0ion. MaV )

" tsoTfI''V UT ~
Federal Ro,crvc banks increased
their total reserve approNimateiy Slh-
100000 during The week just chd'o'
The Reserve Foards statement Of ihe
condition OF Reserve banks Mas 3
: hnu...
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-06

Copper produced by the company
during the first quarter amounted 20
lS.852,32l pounds. as compared with
-. sos ,22S pounds during the last quar-
ter Of 1916 The net cost OF copper
produced was HOP cents pound. com
pared with 937 cents "A pound I'M the
previous quarter.
In statement appended 70 tho re.
port s. ". Ecclcs. president. stated that
operations were conducted IN the hrSt
quarter Of 1917 urdcr tho most adverse
conditions the company. has ever faced.
due to the unusually severe weather
and heavy sn0vstorms which prevailed
throughout the West.
According to tho company's under
standing Of tho excess profit tax law.
which went into effect on January !,
the first quarter proportion Of such
tax viii be about $4,000 During
quarters in which normal production is
maintained. Mr.. Ecclcs said this tax
would exceed all other taxes combined.
and would have the effect OF increasing
the company's taxation more than 100
nor cont
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-06
w aIth MI ark cts and {
German Bank Statement

thrcc-n'on;h- bills. "a. per cent. Gold
premium at Lisbon. $500.
German Bank Statement. Berlin via
London), May 5.-The statement of the
Imperial Bank of Germany, issued April
30. shows tho following changes in
marks.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-06
were the lowest that have been re-
corded for some time past

Railroad Misunderstanding and ex-
penses of Class / railroads Of the
United States Chose having annual
gross revenues Of 100000 or more
month Of 1916 arc shown below:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-06

All fat substances in Sweden and all
stocks OF maize and rice now under
government control. The daily allow
ance for each person will be 200
grammes II or of -four or grain, or
100 grammes (5is oz.) Of hard bread.
or 900 grammes q Oh OF soft bread,
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-06

Clearing House Statement.--Impor-
tant changes were reflected in the
weekly statement Of the New YORK
Clearing House banks, which among
other things showed a decrease Of ST.
1G4.I5O in surplus reserves. This was
more than Offset by the SS3,596,0OO drop
in loans and discounts, due to the ef-
feet Of the governments war borrow
ing. which necessitated shifting to ln-
terror banks loans formerly carried at
this centre Surplus reserves Of the
banks, now standing at $9O.47S,O7O, has
fallen under the 500, 100000 mark for
the first time in more than year.
The actual statement was as fol-
lows:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-06
April Mining Dividends -Diyidends

April Mining Dividends Dividends
paid in April by "a mining and metal-
lurgical companies totalled 1857 1853.
compared with Sl0.9S3,500 paid by IS
companies in April. 1915. according 20
"Thc Engineering and Mining Journal
Holding companies allied 10 mining
paid Sl320.0OO. compared with Sill.
1879, 72i in 1916, but $9,S79.724 OF the
latter amount was the liquidation in
payment by the Guggenhelm Explora,
ton Company. Canadian, Mexican and
Central American mining companies
paid Sl,29O,937 in April, 1917. and ST.
39S, $3.50 in April, 1916.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-06

J. G. White Companies Annual re-
port Of the J. G.. White Companies for
The year ended December 81. 1916.
shows cash in banks and branch Offices
and on hand OF the J. G. White &
Company. the J. G.. White Engineering
Corporation and the j. G.. White Man
agemcnt Corporation amounting TO
S5Oi.9t6, compared with S553.96l in the
previous year Bills and accounts re-
ceivable. according to the amalgamated
balance sheet. totalled 1913 ,293. against
1922. Ola In 1915.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-06

Gold reserve against net deposit and
note liabilities. Ga per cent; cash re
serve against net deposit and note La
bilitics. III per cent. Cash reserve
against net deposit liabilities, after set
ting aside 40 per cent gold reserve
against net liabilities on Federal Re
serve notes in circulation, 1913 per cent.
In the above statement the principal
items compare with ono year ago as io'-
lows:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-06
New York Federal Reserve

Ncw York, May !.
The condition OF the Federal Reserve
Bank of New York at the close OF busl-
ness Friday. compared with the provi'
Gus week. follows:
RESOURCES
May 4. April -.
Gold reserve. ..s21o 97o.6e7 S23t ,oss,6s7
Legal tender
money ..... 33.t79751 23.67t,624
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-06

Rank Clearings.-The days clearings
AZ New York and other cities:
Exchanges. Balances
New York. 1901 1895, Ills s37,243,42s
Ros,on ..... 34,437,o2o 5,04t,602
Sub.Treasury.-New York banks lost
"a Sub.Treasury $6,563,000.
Silver.-Bars IN London. 80 cents;
New York. 7i7s cents; Mexican dollars,
81 4 cents.
London Money Market London, May
s. Money, 37s per cent. Discount
rates-Short bills, 4ll-l6 per cent;
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-06
The Dollar in Foreign Exchange

Total gold holdings. 2,532,552 900
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-06

TotaI res Is p3EZ,5oU,oET % To'NTT'oII
LIABILITIES
Capital .... S12,073,45o s11,9a2,9 $50
Member bank
demos. (nctl. 263, 157,222 241 .339,o44
Govt deposits. 32,77B,e(o 1o,ZlO's9o
Due to other
+. +. banks
lrct . 14.e7t,176 41.S11,e4S
Total liabl's 1922 990,624 S313,244'oN
Fed. Res. notes
outstanding. 1913, 1926 1s3,o93'ooo
Secured as fol-
lows: Gold
dep'ted with
+. r. agent. 1873, 163,z65 1S3,o95'ooo
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-06

Total res've .s244. t4e,41e s254e6o,3t1
Discounts .... 2771t.416 17,335.291
Investments . So,442,oOo Z9'%4f,of
Federal Resve
notes metz. 13,622,465 1O,9I4' lSO
All other res'cs 1.O5A,91I (E/,/IG
Alma record. (Alma, Mich.) 1878-1928, 1917-11-29

The regular meeting Of The Civic
Improvement League will be held AT
I the home Of Mrs. Simon Messenger
on Friday, December :. at 3 o'clock.
Miss Galah Johnson and Harold
PICKLE, both of the Republic Motor
Truck company Of this city, were
married in Shepherd last Thursday
evening.
Mrs c. 3. Gardner left yesterday
for Georgia will visit for the next two
weeks with her husband, First Lieut.
i G.. b. Gardner at Camp Greenlief,
Fort Oglethorpe.
c. 4. Miller, assistant sales mana
ger for the Republic Motor Truck
company, made a business trip last
week through Indiana in the interests
Of the Alma company.
A man usually buys life insurance
to assure home for his family after
his death Buy the home now and
enjoy it with them. Alma Develop
ment Co., Limited ADV.
President Harry Mean Crooks, ID.
D., of Alma College was in Saginaw
Monday, where he gave an address
before the woman's club of that city,
on the subject of "Americanism
Ben Hanley enlisted in the u. 8.
army last week. He was in Illinois
visiting relatives, when he decided TO
enlist and enlisted while there in the
grave registration service. He is now
III New York.
James Stauffer left Monday for
Grand Rapids expecting to enlist in
the United States army, while in that
city Mr.. Stauffer has previously
served a term Of enlistment i'm the
United States army.
The Ladies' Guild of St. Johns
Church will hold a bazaar and sale Of
baked goods at the home of Mrs. Ed.
Hannah. I2S State street. on Thurs
day, December 9th All kinds of
goods, fancy and useful, suitable for
Christmas gifts, will be offered for
sale at reasonable prices. The sale
viii begin at nine o'clock in the morn
ing.
The Republic Motor Truck COM
pany's service flag has arrived and
bears seventy-three stars, one for
each employee of this company, who
is in the service of his country Ac-
cording to all reports the number
should now be double, almost that
many more men having gone into the
service since the flag was first or
dered.
I'm the tram cars of Paris there
appears a poster calling attention 20
tn, evils of drink. II attributes to
alcohol two hundred thousand mad
people. twice that number Of con-
sumptives and nearly all criminals.
This notice is signed by Jean Fiuot,
the we'll known writer, and President
Ponicare, the chief executive of the
French republic. Would not it be well
for our own country to follow the
example set forth by the French -
W. G.. +. u.