davidaulloa/AmericanStories huggingface dataset:
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1917-12-25
The Italian Adventure

The Germans are endeavoring 10
follow the precepts Of classic strategy
and by q successful envelop,ng move
mcnt effect the destruction of the
Italian and Allied forces. It would APP
pear that they are anxious to con-
clude their Italian adventure in a man
ner similar to the previous campaigns
IN Russia, Serbia and Rumania. where.
as result of the strategic enveIop-
mentS gains at relatively small cost.
vast tracts of territory were con-
quered.
Enemy pressure continues intense
along the entire front. Before pro-
ceedine with any operations In the
west the Germans hope TO drive the
Italians back TO the Adige anticipa,
ing that such q reverse would have
Il very disintegfating influence
throughout Italy.
II is apparent that the Germans
nave not given III all hone Of bringing
about social upheayal in Italy as thew
did IN Russia after their victorious
campaign of 1915. No matter how in
tenSlNe this new Subvcrsiye propagan-
da may be: nevertheless we can con-
tidently rely on the fighting morale Of
tho Italian people
Along the western front the enemy
has continued his harrassins raids
with 4 view to keeping the allied forces
on the alert, However, none Of the en-
%ag"ments recorded in the west were
OF more than local importance.
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1917-12-25
Intensive Peace Pronaoard.

~ would appear that as a forerlin-
nor TO the German offensive heralded 10
he launched in the west. an intensive
peace propaganda is 10 be initiated.
Careful examination Of the situation
reveals that the enemy is again prepar-
ms - sue for peace before victory.
Information from various sources
confirms the reports that the Ger
mans would have the world believe
that the military situation is such thai
they are able 70 dictate the terms IF
peace. They therefore threaten that
unless this dictated peace is accented
by the allied powers and ourselves thn
German forces now being concentrated
On the western front will break through
the allied lines in the west.
The various reports OF immediate
peace proposals bv the Germans on
seemingly favorable terms should not
for a moment induce us to siacken our
preparations for war
1t is only necessary for us to recall
tina. during the Christmas season Of
last year the Germans put forth very
similar peace rumOrs.
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1917-12-25
Germans Realize Our Reserve,

'1n considering the general military
situation in its true light, it must be
understood that the Germans realize
that within short time our armies
will form the principal body of fresh
strategical reserves remaining avail
able for action on the battlefields of
Europe Thus. no matter what superior
ity in men and guns. the enemy may
for the time being be able to bring to
bear in the west and even admitting an
eventual modification Of the allied line
in his favor, nevertheless he knows
that in so far as it Is humanity posi-
BILE 10 forcsee his effort will inevitably
result in merely local success which
can have no determining influence Oh
the final outcome Of the war.
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1917-12-25

Monmouth
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-11-16
Change Made in
Organization of
Standard Oil Co.
w. c. Teagle, as President,
Will Be in Charge of
Operations

A. c. Bedford, heretofore president
Of the Standard Oil Company Of New
Jersey. was yesterday elected chairman
of the board of directors and chief ex-
ecutive officer of the corporation.
Walter C. Teagle was elected presi-
dent. to succeed Mr.. Bedford. and also
a director Of the company. H. N. Til
ford resigned as a director.
With this change in the organization,
according to an announcement given
out by the company, Mr.. Bedford, VINO
for many months past has been acting
as chairman of the Petroleum Commit
tee created by the Council Of National
Defence. will be able to give more OF
his time to government activities and
at the same time supervise the actual
conduct Of the Standard Oil Company's
affairs. AS president Mr.. Teagle will
have special charge Of operations. In
this respect the Standard Oil Company
organization will be similar TO that OF
the United States Steel Corporation.
Mr.. Teagle has been associated with
the Standard Oil Company for about
fifteen years. AS q member Of the stan
Of the export department he was placed
in charge Of marketing the companys
products in foreign countries, and In
carrying out this work he spent much
time abroad. Eventually he became
head Of the department.
In 1910 he was elected director OF
the company, and later became one OF
It's vice presidents. resgning this posi-.
ton in 1918 TO accept the presidency OF
the Imperial Oil Company. Ltd. He has
also been president Of the international
Petroleum Company since its forma-
ton, in 1915.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-11-16
Tax Problems Delay
Action on Marine
Preferred Dividend
Special Committee Not Ready
to Report, Mr.. Franklin
Announces

The matter Of settling the back divi-
dend. on the preferred stock OF the
International Mercantile Marine Com
psnv Is still In the hands Of the spe-
cial committee recently appointed, ac-
cording TO statement made yester-
day after q meeting Of the directors
Of the corporation.
P. A. s. Franklin, president OF the
company, said: "As already announced
n special committee has been appointed
10 endeavor to formulate plan FOR
the adjustment of the back dividends
on the preferred. This committee has
not yet reported"
Other members Of the directorate
stated tho settlement Of the back divi-
dends Is a complicated matter owing
to legal difficulties and tax problems.
1t has been reported recently that
the plan being considered by the spe,,
cial committee of directors involved
the payment to the preferred stock
holders of 10 per cent in cash, 80 per
cent in 6 per cent nores and oO per
cent in new common stock.
Marine preferred had an active, day
on the exchange, selling as high as
e3h and as low as S9%. 1t closed x
points up, at 91h.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-11-16
Dividends

Standard Oil Company Of New Jersey
Regular quarterly dividend Of S. share,
payable December II 10 stockholders of record
November l9.
Crex Carpet.-Dividend of per cent, pay
able December 10 TO stockholders of record
November 30.
California Packing. - Regular quarterly
dividends OF 90 cents on the common and
$l.76 on the preferred stocks. Common divi-
dend Is payable December 10 to stockholders
Of record November 80, and preferred pay
able January 2 to stockholders Of record De-
cember Is.
United States Gypsum.-Regular qusrte<ly
dividend OF sl.75 a share on the preferred
stock. payable December 81 TO stockholders
Of record December 10.
MainA Central Railroad. Regular quarter
ly preferred dividend of si25 "A share pay
able December ] 10 stockholders Of record
November Is.
Federal Mining & Smeltine.-Regular quar-
terly dividend Of Ia per cens on the pre-
ferred stock. payable December 10 TO stock
holders of record November %.
Ajax Rubber.-Resular quarterly dividend
of $3.50 a share. payable December is 70
stockholders OF record November 30.
Standard OIL Of New Jer.ey.-Regular
quarterly dividend Of IS share. payable De-
eemoer IL TO stockholders OF record Novem-
Der 10.
Chesapeake Ohio.--Usual scmi-annuni
dividend Of per cent, payable December 81
to stockholders Of record December 7.
United Cigar Stores.-Regular quarterly
dividend Of ia per cent ON the preferred
stock. payable December Is TO stockholders of
record November 30.
Elm Horn Coal Regular semi-annual divi-
dend OF per cent on the preferred stock.
payable December 10 10 stockholders of rec
ord December I.
Essex Company Semi-annual dividend OF
% a share. payable December I to stock
holders OF record November Is.
=. boston. Revere Beach a Lyrn.---Quarterly
dividend Of $3.50 . shars. payable January
70 stockholders Of record December Is.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-11-16
Government Price
For Silver, IS Cents
Negotiations for Big Purchase
Have Not Been
Completed

Information obtained in well in
formed quarters yesterday was to the
effect that the price which the United
States government is expected to pay
for the 100000 ounces Of silver TO
be purchased for 1918 delivery is IS
cents an ounce at New York and Sc
cents at San Francisco.
Dealers In silver bullion said such a
price was a reasonable figure, being
midway between the high record levels
Of a month ago and the low prices pre-
vailing for years prior to the outbreak
OF the war. 1t is said that the British
government is DESTROYS of having the
price fixed below the melting value Of
the Indian rupee, which is about 81
cents an ounce.
1t is understood that negotiations for
the big silver purchase have not yet
been concluded and that many details
yet remain to be cleared up. The min
ing and smelling interests Of the eoun-
try are said TO be cooperating with the
government in arranging the contract
on a satisfactory basis TO all parties
concerned.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-11-16
What Will Labor Do?

The relation of labor to prices is the
economic problem Of the hour. There
should be neither profteering by CAPT
tai nor profteering by labor. Mini
mum cost Of production is obviously
dependent upon established wage cost,
since the element Of labor represents
an average major item Of cost in the
creation of a finished product Is It
possible TO fix the price Of raw ma
terial, as Is being done, and leave I'M
fixed the factor Of labor which trans
mutes it into the finished product, and
avoid commercial cataclysm? There
is an impending need not only for an
intensifcation Of industrial activities,
but there exists like and compelling
occasion for intensified activity in all
branches of food production. Will la
Dor that does not contribute signifi-
cantly to the tax levy voluntarily rear
range It's working basis for the period
Of the war and by increasing industrial
production release men for food pro-
ductioni Will an effective mobilization
Of industrial man-power for service
wherever service may be needed) be
secured by voluntary cooperation or
Federal direction? II the ultimate
terms Of our war financing must be
what money will buy rather than
money itself, is il not fundamental
that there shall be no priority Of either
capital or labor, but that the same
measure Of expediency shall be APP
piled TO all alike? Capital has thus
far done its share in voluntarily ad-
justing its views TO meet those of the
government. Will labor do likewise .
The American Exchange National
Rank
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-11-16

had been charged annually. The com
pany set aside s254,227 for county,
state and Federal taxes, the same as IN
the June quarter. The company gives
the same reason for the apparent heavy
drop in calculated earnings for the
quarter as the Utah, namely, that q
large amount Of copper remained un-
sold during the period In which the
government was making up its price,
fixing programme.
The Ray Consolidated Copper Com.
pany produced 22,972,l 56 pounds OF
copper in the September quarter. COM
pared with 23,532, l19 in the June guar
ter. The average cost pound or net
copper produced was 1875 cents, com,
pared With 11.272 cents for the second
quarter. Sherwood Aldrich. president
SAYS this was the first quarter in more
than a wear in which there has been
anv substantial increase IN the guam
tity of copper available for delivery
and unsold. This has since been SOLD
following the announcement Of the
governments price. The company SET
aside s254,13e to cover tax charges OF
all kinds,
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-11-16
The Dollar in Foreign Exchange

Scandinavian exchanges displayed
erratic tendencies again yesterday.
Swedish crowns sold up 2 cents to 43
and Danish crowns were 1 cent higher
at SO. Russian exchange was slightly
firmer. The rest Of the market showed
no important change.
Closing rates yesterday, compared
With a week ago, are given In the table
below. American bankers have sus-
pended all dealings in German and
Austrian exchange, so that daily quota
lions for either marks or kronen are
no longer available.
Quoted dollars to the pound)
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-11-16
Coal Moved by Artificial
Floods on Ohio. Nv

BY means OF an artificial ris@ Al
on October Is. 1917. at Dam NO. x,
River, and augmented by wA ~
the Muskingum. Kansvhs sns ~.
Sandy rivers, more than so,IVo y
coal from the Kanawhs River M
livewd TO Cincinnati and o'ss. ~
cities. Every available towoss ~
barge was used in this movems' "
the small harbor' boat OF ons NJ
coal companies being utilized 49,
down four coal boats and . ~ -
pusher was chartered TO enn -
ten bsrgcs. Fourteen TOYS
than 200 craft were In the NO.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-11-16
Increase Sought
In Express RATES
Companies Assert They Are
Doing Business at
Actual Loss

WASHINGTON, Nov. 15.--E1prs
companies to-day applied 70 the u
terstate Commerce Commission io' "
increase of 10 per cent IN their rs's'
The Adams, American, Southern az
Wells-Fargo companies, masins "
application in behalf Of themsti'''
and other express companies, y
forth that they had suffered ''
loss of S39,s49 as the result OIL y
creases in operating expenses ~
taxes during the first six montns v
this year. -.
The companies assert tina: the! :.
carrying on greatly increased ousn'...
under the most trying eonoiuvss.. .,
and that their facilities are tshsa
beyond their hormal capacity, ~,
increasingly difficult. their appIle'..,i
says. to obtain necessary laoor' =,
because Of the increasing deinsna , -
express and baggage cars iot MI nsI,,
ment Of troops and military suppI
it has been impossible 70 OBTAIN
quate equipment. .,.,ess
Frequent and substantial s . n
in wages, particularly TO empl0yrl .
ceiving lower rates of pay, sre
have been necessary 10 retain Ins
ployes, and it has been neeess'
hire large numbers of new men 4,
the places of those drafted NV
army or taken to other empIoy"''
higher wages. .,.Al,l'
"Your petitioners must De 20
says the application, ito eornpewx az
industrial and other enterprises "a,
are to maintain their orgsn'isuDs,s., "a
proper standard Of service ana ' rs.
wise satisfactorily transact ue"
ness" A..a
Figures are cited TO show ts.' a.,
Grating expenses and taxes of ~. ~
principal roads for the six mons aas ~
ed June 80, 1917, were Sss.6SS.%s.isl
receipts were s99,6lS,e9s. Inc ~
for July was estimated at mo"
sorn nnn
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-11-16
New York

Extra Dvidends.-The Hooking VAL
ley Railroad Company yesterday de-
clared a dividend Of 81 per cent, an
increase of p per cent over the dec
laration made six months ago, payable
December 81 to stockholders of record
December IA. This makes a total dis
tribution of 51a per cent for 1917,
compared with 4 per cent in 1916.
Directors Of the Adams Express
Company have declared a dividend of
81 share from the accumulated sur
plus, payable December to stock
holders Of record November 10. Three
months ago the regular quarterly divi-
dend Of $3.50 was declared.
The Cambria Steel Company yester-
day declared the usual extra dividend
Of / n per cent, along with the regular
quarterly disbursement Of II per cent,
payable December 10 to stockholders
of record November 30.
An extra dividend of per cent has
been declared by the Youngstown Sheet
and Tube Company on the common
shares; also the regular quarterly divi-
dends Of IA per cent on the pre-
ferred and per cent on the common
stocks, all payable December 81 to
stockholders of record December 20.
Sues on Pig Iron Contracs-An ac-
ton TO recover Sl,9l9,l00 on en- al
legged violation Of an agreement was
filed In the Supreme Court yesterday
by the Eastern Products Company
against the Tennessee Coal, Iron and
Railroad Company. The agreement
made in April, 1916, between the de-
PENDANT corporation and the Chatta-
nooga Steel Company provided that the
defendant was to sell TO the latter
10000 gross tons of standard basic
pig iron, to be delivered in instruments
between October, 1916, and February,
1917. The alleged failure of the Ten
nessee company to live up to this
agreement, the plaintiff says, resulted
in the loss Of the amount now sued
for.
Stock Exchange Admissions.-Samuel
Weiss was yesterday elected to mem
bership in the New York Stock Ex-
change. Jacques Weinberger was au-
thorized as substitute member TO
represent the firm of William Saloman
& Co. in the place of Stewart Waller.
John S. Ferguson was proposed as a
substitute for Hamilton Fish Benjamin
to represent the firm of Benjamin e.
Ferguson on the floor of the exchange.
To Work for War Savings-Otto
Marx has been appointed Federal d.
rector Of the National War-Ssvings
Committee, of which Frank A. Wander
lip Is chairman.
Tobacco Products Directors Resign.
The directorate of this company has
been reduced from thirteen TO nine
members, by the resignation OF Daniel
&. Reid. J. Horace Harding, Seward
Prosser and j. du Pont White.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-11-16
Money and Credit

The heavy transfers Of funds in this
market yesterday in connection with
the 70 per cent payment on the second
Liberty Loan subscription were made
without any disturbance 10 the general
money situation. Rates showed little
or no change from the day before. call
loAns at the Stock Exchange holding
steady at 4 per cent.
only q small amount Of buAinsss vas
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-11-16
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, s475H. The intrinsic
parity Is s4.ss% per pound. Thus, you
say either that pounds are at a discount
or that dollars are at premium, which
10 owing 10 the fact that In England
the demand for dollars with which to
settle accounts in this country lis
greater than the demand in this COIN
try foH pounds with which to settle
accountt in England
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-11-16
$1,000, 900 in Gold
Shipped to Chile
Export Embargo Lifted to
Permit of Payment for
Nitrates

Gold bars amounting TO s2,20o,00o
are being shipped by the National City
Bank to Chile for account Of the Chill
can government. The shipment. which
is likely to be followed by others, was
arranged for at Washington between
representatives of the governments OF
the United States and of Chile and is
to pay for purchases of nitrates.
This is the first export of gold to
any South American point since the
enforcement of the embargo on that
metal by the Treasury Department.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-11-16
Southern Express Election

SAVANNAH. Ga, Nov. l5.-M. F.
Pplant, Of New York, was reelected
chairman OF the board Of the Southern
Express Company here to-day at the
annual meeting OF the directors and
stockholders. T. w. Leary, New York.
was again chosen president. and all the
ethar officers were reelected.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-11-16
Surplus.
Costs Are Higher

Surplus.
Costs Are Higher
Average monthly production Of the
Utah company was 18,254,1Sl pounds,
compared with 1s,SO1,l55 in the pre-
vious quarter. The average cost per
pound Of net copper produced was
i0.86O cents, an increase of 1895 cents
over the June quarter. Owing to the
uncertainty as to the Interpretation Of
the new tax laws. no change was made
in the amount set aside for taxes, the
mount being S1,2l5,OOO, the same as in
the previous quarterly period.
II cost the Chino Copper Company
1914 cents a pound of copper produced
against 9.65 cents in the second quar-
ter. The report says the higher cost
was due in part TO the higher cost for
labor and supplies and to the inclusion,
beginning in August. Of a monthly de-
probation charge. which heretofore
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-11-16
Other Cities

Texas Cotton Brings Record Prices.
GAINESVILLE, Tex, Nov. l5.-All
previous record prices for long staple
cotton on this market were broken to-
day, when a bale was sold for SO
cents a pound The bale brought $3.50,
exclusive Of the seed, which is valued
at SO a bushel.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-11-16
News Digest
Foreign

Better Tone in London Stocks
LONDON, Nov. 15.-The stock market
had a better tone to-daySss dealers re-
garded the news as more satisfactory.
Gilt-edged securities showed little
change, but scandinavian. Russian and
French bonds were frmer. Shipping
shares were strong and active features.
Several industrials and iron and steel
stocks received increased attention, but
mines and other speculative issues were
dull.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-11-16
Elections

Perpont V. Davis yesterday was
elected a director Of the Seaboard Air
Line Railway Company, TO succeed w.
5. Kinnear.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-11-16

CERTIFICATE OF MEMBERSHIP 80
29l3. issued by the New York Protsts
Exchange. March 3, 1892. 70 stephen Z
tion has been made 10 the Board OF Mar
gers for a new certificate All persons ~.
terested are hereby notified 10 show Gauss
WITHIN me next SIX weeks WY so0A Nv
l.. b. HOWE. Secretary
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-11-16
sDecrease.

London Money Market.-L0NDON,
Nov. 15.-Money was In increased de-
mand, with the rate easier at 81 per
cent. Discount rates for short bills,
AZ per cent; three months bills, AZ
per cent. Gold premium at Lisbon, 100.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-11-16

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, 1917-11-16

Paris Bourse.-PARIS, Nov. 15.-
Trading was quiet on the Bourse to-
day. Three per cent rentes, so francs
for cash; exchange on London, q
francs 80 confines; per cent loan, 81
francs 70 confines.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-11-16

Commercial Paper. - Rates were
steady In a quiet market yesterday
holding at So to 51A per cent.
Official rates of discount for each Of
the twelve Federal districts are as fol-
lows:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-11-16

done In fixed date maturities, while
the banks were engaged in digesting
the transactions arising out Of the LIB
erty Loan payment The market was
quoted at Oh 10 81 per cent for nine
ty-day and four months loans on indus
trial securities.
Ruling rates for money yesterday,
compared with year ago. were as fol-
lows:
Yesterday. Year ago.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-11-16
Corporation Returns

Moline Plow.-Rcport for the year ended
July 81, 1917. compares as follows;