davidaulloa/AmericanStories huggingface dataset:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-08-08

branches of activity" But, not content
with this, it has since followed up" by
sending to all these 10000 financial in
stitutions long lists OF questions as to
the results obtained, with further sug-
gestons for getting hold of new sub
scribers for the next loan, and the COM
mittee intends to tabulate the replies
and make them the basis for the next
campaign. To what extent, we wonder.
are our own banks pushing the sale of
our Exchequer bonds on any similar
lines?
Or, again, take the American stock
exchanges. Unlike the London institu-
ton, their members can advertise for
customers, and thus can make them
selves active statesmen Of the national
war bonds to an extent impossible ac-
cording to our practices. We are espe-
cially interested, moreover, to notice
how the New York Stock Exchange
committee has used its powers to pre-
vent sales Of the bonds at a discount.
On the first day of dealings in the
bonds 1t was reported to the commit
tee that a sale had been effected in the
market under par, and it held an in
yestigation at once. II was suspected
that "pro-German" influence had been
at work, but it reported that this had
been disproved. 1t announced, how
yer, that it had discovered the unpatri-
otto seller, and that, as the result, he
was not only "repentant,' but had
bought back his bonds at par and given
100000 TO the Red Cross Fund! This
strikes US as smrrt work on tie part Of
the New York Stock Exchange commit
tee, and it certainly shows how such a
body may support the market for ma
tio7al war loan merely by making un-
patriotic selling q matter for which ere
pentance" will promptly be exacted. If
the London Stock Exchange committee
took this line with their members it
would be interesting to see the effect
on the market for our own war loan.-
The London Times.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-08-08
Treasury Notes
Are Oversubscribed
Terms of Next Liberty Loan
Will Be Announced
Soon

WASHINGTON, Aug. THE Treas
ury's offer of s3OO,OOO,OO0 in certificates
of indebtedness maturing November To-
first financing under the projected sec
ond Offering of Liberty bonds, was
largely oversubscribed when subscrip-
tons closed at 3 p m. to-day.
The offering met with a satisfactory
response in the local Reserve Dis
trict Officials of the Federal Re-
serve Bank OF New York declined to
give out figures, but said the total bore
favorable comparison with the amount
applied for on the occasion Of the last
previous offering of s200000,OO0 3h
ner cent certificates, when between so
and 65 per cent was stated TO nave
been taken by this district.
PAYMENT for the latest issue of GER
tifcates of Indebtedness must be made
tomorrow. They mature November Is.
The S1OO,OOO,OO0 5 per cent two--year
Canadian loan must also be paid to-
morrow.
Bankers here who conferred with
Secretary of the Treasury McAdoo in
New York Monday intimated yesterday
that an official announcement would be
made within the next few days of the
terms and date Of offering of the next
Liberty Loan. One banker was author
ity for the statement that these mat
tiers had already been settled. The
prevailing opinion is that the interest
rate will be raised to 4 per cent.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-08-08
Express Profits Less
Falling Of of so Per Cent
Over Last Year Shown

Washington, Aug. IA continued
decrease in profits of express compa-
MES Is shown in statistics covering
operations for April. Operating in
come for all companies for April was
$3.50 $50, falling off of more than so
per. cent from the figures of April, 1916.
This showing was made in the face of
increased gross revenues of approx
mately $4,000 900. The total for last
April reached 1922, 7Os. An increase
of approximately 80 per cent in oper-
sting expenses within the year, or from
100000 to nearly 100000 accounts
for the reduction in profits.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-08-08
Profits
In June Total
Over SSS,OOO,OO
Greatest Prosperity of His.
tory Reported by Com
merce Commission

WASHINGTON, Aug. Record pros
perity for the railroads is shown in
Interstate Commerce Commission re-
turns for June.
The 1853 roads covered by the figures,
operating three-fourths OF the coun-
try's mileage, reported that their net
revenue increased nearly S8,OOO,OOO
over June, 1915. the previous record
month, and reached total of s88,2S3,-
1923. Operating revenues increased
more than S3S,000,00O, totalling S213,-
s67,527, while expenses were approx
mately S30,000,000 higher than year
ago.
The greatest increase is shown by
Western roads, whose operating rev.
enues jumped from S94,OOO,OOO to
S1lO,OOO,OOO. Expenses increased APP
proximately sl0,O00,0O0, leaving net
revenues from operation of S39,6l6,95O,
or about S6.O00,000 more than IN June,
1916.
Eastern roads show an increase in
net revenue of approximately s6OO,OOO.
Operating revenues increased Sl5,OOO,-
600, totalling Sl2O, 1926 while ex-
penses increased approximately Sl4'-
100000.
In the Southern district operating
revenues show an increase Of more than
$1,000, 900. reaching S42, 7l9,5SS. EX-
penses increased approximately So,oOV,-
600, leaving net revenues OF Sl5,494,-
l59, approximately 100000 higher
than year ago.
Preliminary figures covering the hrst
six months OF 1917 show an excess or
$4,000, 900 in net revenues over the
record figures of a year ago. This
increase was in the face of several bad
months during the winter. The returns
are interpreted as indicating that the
railroads will exceed in 1917 by many
millions the banner figures recorded
last year.
Thirtv-three roads still are TO be
heard from, and, on the basis or the
reports already in, the total operating
income of all the roads for June should
show a S10,000,000 increase, at least,
over June, 1916.
The complete returns, 1t is esti-
mated, will show the enormous total OF
$500, 100000 in operating incomes
during the first six months of the cur
rent year. The increase in operating
revenues for all roads during the
period is expected to amount to ap-
proximately sls0,0O0,000.
On the basis of these figures, it is
not unlikely that the roads will receive
around $4,000, 100000 for operations in
1917, an increase Of 20 per cent over
the previous high total. Expenses. of
course, have scared to new heights,
also, but the margin between revenues
and expenses is expected to be greater
than ever before.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-08-08
Silver at a New High
Heavy Demand for Coinage
Puts Price Up to 81 SAC.

The price of commercial bar silver
which has been steadily recovering
during the past week from the slump
caused by the announcement that the
British government had placed check
on the export of the metal to India,
rose to STA cents an ounce yesterday.
This was an advance of l cent over
night and the highest price in quar-
ter of century.
Local bullion dealers attribute the
renewed strength of silver TO the
heavy. coinage demand. The American
government is using an unusually
large amount of the metal for mlntlng
purposes. Besides this the British
government is importing between 3OO,-
900 and 100000 ounces Of silver weekly
from the United States. Exports of
silver to India have fallen off rather
sharply owing to the fact that the Ind,
ian government is buying all the metal
received there at per cent under the
ruling price in London. This tends TO
divert the export movement of the
metal from the United States from In
dia TO England.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-08-08
Tuesday, August 7, 1917

An index number of prices shows
that one-ffth of the total advance
in the food cost Of living since the
war began has been wiped out by
declines in the last few weeks. AT
the beginning Of June, 1917, it re-
quired twice as much money to fill
the average family's market basket
as it did in July, 1914. Now Sl.SO
will purchase as much as 81 would
have bought, on the basis Of pre-
war prices. This is surely encour-
aging, but the conclusion which has
been drawn frqf these and similar
figures, namely, that we may
henceforth expect a more or less
constant decline in the cost of liv-
ing, is by no means necessarily cor
rect. The decline which has already
taken place is largely seasonal, and
is brought about chiefly by lower
prices for vegetables, of which
great surplus apparently has been
produced. Other food products
show comparatively little change
Some are higher than they were
when we entered the war, and as
the season advances it is altogether
likely that prices of most food COM
modities, and especially meats and
vegetables, will work to higher
levels, as almost invariably happens.
On the whole, there is little pros
pect that the cost of living will be
materially lower the coming winter
than it was a year before. 1t is more
probable that it will be somewhat
higher.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-08-08
British Steel Output

The production of finished steel in
Great Britain in 1915 is reported by the
Iron and Steel Federation as follows:
Bloom, billets and rods, 1,945, 900; sheet
bars, 1,272,OOO; rails, 27l 900; plates,
1,B3,OO0; sheets, $4,000; shapes and
angles. $4,000; beams and Orders,
$4,000; galvanized sheets, 1000; tin
plates, j77,000; total, 6.531 900 gross
tons. TIE production of steel castings
was POI, 900 tons, of which $4,000 tons
were made in electric furnaces. The
production of wrought iron (puddled
bars was 100000 tons.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-08-08

lish and French obligations in tna'
market. So much gold has been re-
ceived there that the Bank OF Spain Is
accepting American gold only at a as =,
count of between 6 and Z per cent IN
an effort to check the influx. :,
About a year ago the Spanish PAM
initiated the practice OF ouyihg eo'u
at a discount. commencing with a
charge of per cent. But by degrees
it increased the discount, until now 1t
stands at something more than per
cent on American gold eagles and per
cent on English sovereigns. The dls-
elimination in favor Of sovereigns as
against American gold coin is due TO
their greater acceptability in Spain.
The bank is under no legal require
ment. as is the Bank of England, TO
purchase at minimum rate all gold
rendered it, but may impose whatever
price il sees At.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-08-08
Bank of Spain Has
Huge Gold Reserve
Metallic Cover for Note Cir
culation Now SO Per
Cent

MADRID. Aug. THE newspaper
"Epoca" expresses satisfaction at the
Bank of SPANS returns up to August
4. the gold reserve showing l,7l7,Ooo,-
900 pesetas approximately $35O,oOo,-
ooO), of which 56,OOO,OOO pesetas was
received last week and 100000 the
preceding week. The total metallic re-
serve Is 1858, 900 pesetas (s510,-
10000. The paper money issued
amounted to 2,5s4,000,000 pesetas
ISIS, 100000, making the metallic
guarantee about SO per cent.
Spain is one of the neutral countries
of Europe that has been literally
swamped with gold as a result of its
war prosperity. The United States has
been the heaviest contributor to the
Spanish gold store in recent months,
millions of dollars in metal having
been exported to Madrid to settle Eng
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-08-08
The Dollar in Foreign Exchange

Foreign exchange rates fuctuated ir-
regularly yesterday without definite
trend. French and Italian bills de-
clined, while Swiss francs went to
new high record rate Of 4.46 to the
dollar. Scandinavian exchanges were
also strong, crown cables on Stockholm
rising from 1926 cents to 1890. Rus
sian rubles were firmer.
Closing rates yesterday. compared
with q week ago, are given In the table
below. American bankers have sus-
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-08-08

The above ates express the cost OF
foreign money in terms of the Ameri-
can dollar. You buy an English pound
sterling at, say, si.75h. The intrinsic
parity is s4ses per pound. Thus, you
say 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, 1917-08-08

Here are some facts which have a
bearing on railroad securities:
The average price of fifteen
standard railroad stocks is now
about Is points below the high level
of 1916. In the same period the
average price of twelve representa-
tive industrials shows net decline
of 10 points.
Railroad gross earnings are at
tanning new peaks each month, and
in most cases high records are being
established in net. Even the East
ern carriers are making better
showing.
The roads which needed it most
have received a substantial increase
in rates, all of which will 90 to swell
net earnings.
, Railroads are not directly af-
fected by price fixing or by many
other uncertainties which becloud
the industrial situation. On the
other hand, since we entered the
war they have made remarkable
progress toward eliminating waste
and establishing greater efficiency in
freight transportation, which can
not fail to have a permanent and
decidedly favorable influence on
/ their net earnings.
They have been relieved Of worry
about the future by the Commerce
! Commissions assurance that in case
of adverse developments high rates
would be granted.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-08-08

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: Current
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-08-08

pended ell dealings in German and
Austrian exchange, so that daily quo
tations for either marks or kronen are
no longer available.
Uaak
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-08-08
Government Will
Finance Airplane
Manufacturers
Agrees to Provide Working
Capital, So That Output
May Be Increased

In order to speed up the production
of airplanes for war purposes, the au-
thorities at Washington have agreed TO
adopt a liberal policy toward those
companies that may need additional
working capital to carry out the pro-
gramme involving the expenditure OF
more than $500 100000 by the govern
ment.
An official Of the Wright-Martin Air
craft Corporation said yesterday that
the government had signifed its Will
ingness to advance his company what
ever was needed to increase its output
up 70 the requirements Of the War
DEPARTMENT.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-08-08
From 4 to 50 a Day

"Our objective in this connection,
stated this official. ais to increase our
output of airplane motors for war pur-
noses uu to fifty day. Now we are
making them at the rate of only four
2 day"
1t was reported in Wall Street that
the Wright-Martin company was to re-
ceive an immediate advance Of SILL
600. 900 from the government
The policy of the government IN max
ing advances TO aircraft companies
was viewed with favor in the financial
district. as it will obviate the neces-
sity of borrowings in the open market
through the issuance of securities TO
carry out the plans of the Allies TO
win the war in the air.
Produces Standard Motor
The Hispano-Suiza motor. one Of the
products of the Wright-Martin COM
panv. is the standard for the French
and Russian governments along the
battle fronts. The United States IN
tends TO purchase large numbers OF
these motors. which. of course, can only
be built by the Wright corporation as
the sole licensee in this country oy
grant Of the French government: Ihese
motors are said TO excel in efficiency
those manufactured abroad, as they
possess more power a pound weight
and consume less gasolene than the
foreign make.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-08-08

\ 1t was a very dull session on the
Stock Exchange, and uninteresting,
save for one thing. The profession
ais sold industrials-probably they
will buy them back in a day or two
and bought rails. The selling of
industrials had little or no signifi-
canoe, but the buying Of rails
aroused comment, because it was
accompanied by reports that in
vestors have been quietly accu-
mulating standard transportation
issues for the last week or ten days.
Wall Street has been saying for
some time that the decline in Stude-
baker had discounted any action
which the directors might take on
the question of dividends. Appar-
emily, this view was well founded,
for, following the announcement
that the dividend rate had been cut
from 10 TO per cent, the stock
closed with a fractional net gain. 1t
is not at all improbable, however,
that those on the inside" made sub
stantial profits while the discount
ing" process was under way. Those
concerned certainly made no attempt
to inform the public of the COM
pany's condition.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-08-08
Money and Credit

Money rates showed little change in
the local market yesterday. At the
Stock Exchange call loans ruled at Pa
per cent.
In the market for time loans, based
on Stock Exchange collateral, rates on
the shorter maturities continued fairly
easy, Rates or the longer maturities
were firm, on the other hand, owing to
the scarcity of offerings.
Ruling rates for money yesterday,
compared with year ago, were as fol-
lows;
Yesterday. Year ago.
Call money!. 2A% 2341o
Time money mixed collateraD:
60 days.. 44@4La'o 8 %
80 days. 4A@4Ia% 3I4@3La%
months. 4sl1o 3341o
. to mos. 434% 3s4%
Commercial Paper.--Trading was dull
yesterday, with the bulk of the bust
ness moving on per cent basis.
Official rates of discount OF each OF
the twelve Federal districts are as fol-
lows:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-08-08

London Money Market-LONDoN,
Aug. Money and discount rates
were quiet and steady to-day. Money
loaned at 4 per cent. Short bills were
quoted In the discount market at ~
per cent.
Bank of Germany.-BERLlN, via
London, Aug. THE statement OF the
Imperial Bank of Germany, issued July
81, shows the following changes, IN
m arkx.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-08-08

Sub Treasury. - New York banks
gained from the Sub-Treasury S6,275,-
o29.
Silver.-Bsrs In London. Ard; New
York, SIX cents; Mexican dollars, e3h
cents,
Grand Forks herald. [volume] (Grand Forks, N.D.) 1916-1955, 1917-07-18
WILLARD WILL
MEET Corners
------
Declares He has no Inten-
ton Of Retiring, and that
He Will Enter Ring.

Chicago, July 1s.-Jess willard
just yet. He announces from New
York that he will be ready to defend
his title against Fred Fulton or Carl
Morris after the close of the circus
season In October. In a letter to
friends in Chicago, Willard declares
he weighs EGO, about thirty pounds
above his best fighting weight.
1t Is not true that I have refused
to box, either Carl Morris or. Fred
Fulton" Wizards letter continues.
why should i bar those fellows If
the public wants me to meet either
of them? 1t Is true that I do not
like Morris, but that doesn't mean
that he is barred. With a little train
ing I can reduce5to my best weight. I
have no notion OF retiring,
Wizards admission will be well
come news to both Morris and Fulton.
They have harped on the idea that
hi big Kansan would go on and on
wearing the heavyweight crown with
out giving any one aachance to knock
~ from his noble dome. Fulton and
Morris are right at the top ofstheir
speed, and Willard seems to be the
ondy one able to give them any sort
of an argument, mostly because of
their great size and weight.
~ was generally thought that VIII
lard would retire without risking the
lchance of being defeated. His letter
70 chicago, however, makes It certain
that Jess still bankers for a portion
9oi assmashing big championship gate.
2Cheer up, Morris, and Fulton like
W1Se,S cheer upi sESs&
Grand Forks herald. [volume] (Grand Forks, N.D.) 1916-1955, 1917-07-18
RAIN POST|PONES
CIRCUIT MEET
Favorites Step to the Front
in the FirstTwo Races
Yesterday.

Cleveland. July 1S.-Favorites
stepped to the front yesterday at the
Grand Circuit meet at North Randall
but only two aces finished, a les
cloudburst forcing the postponment Of
the other three events.
Mawitza and Edman Up won the
first division OF the 2:19 trot In
straight heats, easily outclassing the
field. Peter Schiller and Oscar Watts
put up a pretty battle for place and
show, the former finally getting Sec
n money.
In the second division Of the 2:1s
trot Peter Chenault, with Murphy Up,
was given hot competition by Holly
rood King in the second heat and by
Northspur in the third. Only q great
drive down the home stretch by
Murphy in the third heat gave the
Bay Son Of Peter The Great the heat
and race.
In the Fasig sweepstakes for three
year-olds, after Kelly de Forest, the
favorite, had won the first heat the
rain descended in torrents ana ended
the racing for the day. The unfn-
ished vents on yesterdays card have
been put forward and six races sched-
uled for today.
Grand Forks herald. [volume] (Grand Forks, N.D.) 1916-1955, 1917-07-18
COLLEGES TO HAVE
FOOTBALL DESPITE
MANY CALLED TO WAR

Early talk Of no football this year
is being d%iscredited now by reports
which come from the big college
camps, indicating there will be foot
ball Of some sort or other.
The teams probably will not be up
to the high standard set in former
years when Brickleys, Ted Coys and
Mahans abounded, but there will be
football and of no particularly low
standard.
A number of colleges have ahol-
ished their freshman rule for the
period of the war which will turn
loose a lot of younsters whose scho-
lastic training will make them fair
men on the gridirons and in every
college there are men eligible for
football teams who are ineligible for
the army on account Of age or some
minor physical disability.
Several colleges east and west have
already fallen into line and there is
no question that others will do so be-
fore the season opens.
Grand Forks herald. [volume] (Grand Forks, N.D.) 1916-1955, 1917-07-18
DRAYT0N ADDS
MORE VICTORIES
Two Out of Three Games
With Independent Teams
Were Shut-outs.

Drayton, N. D., July 1s.-Three
more victories have been added to the
long list already gained by the Dray-
ton baseball team, of which 2 were
shut-outs. The Gardar aggregation
were defeated on the home ground
on Friday afternoon 4 to 1, making 2
out of 8 games won from them.
Drayton made Z hits and Gardar 2.
Hawkins and Crawford were battery
for Drayton, while Thomson and
ellis worked for the opposing ag-
g%regation. Hawkins struck out 8 men
and Thomson 4 men.
On Saturday evening, the Drayton
team defeated st. Vincent on the lat
ter's diamond by a score of 5 to 0.
Farnsworth and Crawford worked for
the Drayton artists, and Turner and
Storms for st. Vincent. Drayton
made z hits. and st. Vincent i hit.
Turner struck out 7 men and Farms
worth II men.
Monday evening the Drayton aggre-
cation defeated the Crystal team on
h Crystal grounds 6 to o. Craw-
ford and Boutell worked for the
Drayton nine and Innis and ellis for
Crystal. Innis struck out S men and
allowed z hits, while Crawford struck
out Is men and allowed only 2 hits.