davidaulloa/AmericanStories huggingface dataset:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-04-29
Relevant Facts

Interborough Rapid Transit.-Gross
earnings for March were 3,6S2,52O,
against $3.405,O52 for the correspond
ing month of 1916. Net income after
taxes amounted to $l,s4s,559 a falling
off of S3s,7O9 Other income amounted
to s46,Ss9. The March surplus after
charges was 1881 ,345, to which was
added Sl6,492 from Queens subway
operations, making total surplus for
the month of $99l, s37, a decrease Of
S6O.244. The number Of passengers
carried last month was 70,o25,017,
against 6b,0l7,374 during March, 1915.
The company's surplus for the nine
months ended March 81 now stands az
S6,740,665, an increase Of $299'O6l'
Kansas City SOuthern.-The com
pany's report for its new fiscal year,
ended December 81 instead OF June 80,
shows gross earnings of Sll,2S9, 324. an
increase of Sl,2l3,155 over 1915. Ope-
rating costs increased S576,745, to So
1882. ZOO, leaving net earnings of S4,-
500. 624, a gain of S636,410. The years
income available for dividends was So
1854, and allowing for $4,000 for
payments on the preferred stock, there
remained $1,1S2,6 42, equal to 1894 q
share on ,599 shares of common.
American Water Works & Electric
A circular has been issued to holders
Of voting trust certificates outlining a
plan calling for an increase in the cora
pany's preferred stock from S5,O00,0OO
TO Sl0.000.000 II is proposed to issue
$3.50 900 at once TO meet part of the 81
per cent, or S1,050,000, now in arrears
on the issue. The remand is 10 be
issued to provide for Improvements
and for enlarging the activities of the
company. II the plan is carried out
directors predict that the company will
begin paying cash dividends on the
first preferred stock at the current
rate. The plan provides that back
dividends shall be paid as follows:
Sl50,000, or 3 per cent in cash; $780,
OO0, or 8 per cent in first preferred
stock, and $450,000, or Q per cent, in
common stock, at 22a.
Atlantic, Gulf & West Indies.-The
company's report for February shows
gross earnings Of s3,3ll,931, against
SS,osU,lU LOT the corresponding moulN
Of 1916. The surplus after charges
amounted to $77s,021, an increase OF
s304,95 The surplus for the two
months ended with February was ST.
524,029, a gain OF S723,797.
American Smelling & Refining.-The
company has sent out a circular Ia
holders of the per cent Series A
cumulative preferred stock OF the Sc.
curities Company. which embraces q
plan for this stock for an equal pal
amount of first mortgage per cent
bonds OF the refining company, plu:
a cash payment of $3.50 a share. The
American Smelling & Refining Com.
pany is cooperating with Kuhn, Loci
& Co. 10 carry out the plan. Stock
holders wishing TO accept the offer oil
exchange may deposit their stock GER.
tifcates on or before May 10. The
refining company is the owner OF al
, the common stock of the American
SHELTERS Securities Company and ha,
already arranged TO retire a large par
OF the Series preferred stock. Tn,
Series A stock amounts TO $1,000. 00(
and tbs B stock TO s30.ooo,ooo.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-04-29
The South's Problem

There are enough idle people in the
South TO largely increase, II put to
work, the acreage in foodstuffs and
to cultivate every crop thoroughly.
Things which could not be dono in
times Of peace can be done in war
times. II may not be feasible when
the country IS at peace to compel
every man by legislation TO work, but
it is feasible in such q war period as
the present We believe that Il NAV
become necessary for every Southern
Legislature to be called in special ses-
sion to pass bills dealing with this
situation. We believe that commits
sions should be appointed who will
see that every man. white or black, Is
at work. II he is not in the army,
then he must be made 10 work in the
field, on the roads, in the streets, in
the factories, In the Office or wherever
he can produce the best results. II
would be a crying disgrace II, willis
our soldiers and sailors are risklng
their lives for the nations safety,
millions Of loaAng idlers should be
permitted 70 hang around the street
corners and the towns and villages OF
the South. Unless these people ara
sent TO war, they should be Controlled
by discipline as rigid as that Of the
army and under strict management
made TO work regularly six days IN
the week so long as the war nay last
The Manufacturers Record.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-04-29
Looking Ahead

stems should be taken Immediately TO
appoint a competent commission VINO
by conference with the special railroad
commission now in service, could work
out. IL it is possible TO do so, the mat
ter Of increased transportation service
for the movement of storage coal
AGAINST the coming heavy winter de-
mand which will be accumulated IN the
North and Northwest by a serious
shortago Of lake borne coal. The min
inc camps should be polled and men
urcsd 20 increase their productiveness.
Those who are paid on pieceWork
basis automatically should receive a
bigher earning; IL necessary, tho hours
81 lahor and the rate of compensation
sborld be increased. The public Will
nav it if it can get the fuel a com
mission from the ranks OF the Ameri-
cor Institute of Mining Engineers
which body, together with inc CIV
mechanical, electrical and metaIlulst
cal engineers, are now worKlnS ~ ~
the army and naval Doa.uoi 49, oI, :,
handle the problem, conferring closely
With committees representing Nv
producing and consuming side; VI,
ennization Of this sort, II qnieKly put
into effect, may prevent putting coal
camps and coal transportation iorcss
under military law later IN the ysat'
Needless TO say, commission OF thls
character would prove stspillher oI
prices, preventing the undue extremes extremes
that follow famine in any COMMONLY
if not put into effect, the country VII VII.
90 ;nto the winter unprepsred. Inc
Country needs mobilization OF its
coal producing and transportation
forces lust as badly as II needs an
army OF soldiers and sailors. inc
question is, will we act!--Btdck D'd-
BtOnd.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-04-29
Corporation Returns
Xirginian Railway
Dividends

Atlantic Coast Line Railroad. Irregular
sem.snnual dividend Of 2is per cen, on pre-
fsrred stock, payable May 10 10 stock Of rec
ord April 80.
Deere 4 Ce.-Regulsr quarterly dividend
Of ~ per cent on the preferred stock. pay
able June 20 stock Of record May Is.
Western Utilities.-Rsgulsr quarterly divi-
dend Of n per cent on the preferred stock.
payable June 70 stock OF record May Is.
General Observation-Disclosures quarterly
dividends Of "a per cent on the preferred
and common stocks, both payable july | 70
stock Of record June 20.
Thermos Bsttie.-DiIdond Of IS a share.
payable June 20 stock Of record May 20.
Harmony Mills.-Regulsr quarterly divi-
dend Of la per cent on the preferred stock
and per cent on the common. payable MAY
70 stock OF record April 20.
HsrGnvss Cotton Mills.--Qusrtsrly divi-
dsnd Of ! y per cent. payable May TO stock
Of record April IS.
Parker Mills.-Quarterly dividend Of III
per cent, Fysbls May 10 stock Of record
April rs. -.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-04-29
Standard Oil of
New York Earns
Over S48 a Share
Company's Surplus Equal
to 80 Per Cent OF
Capital Stock

Net earnings Of the Standard OIL
Company of New York last year were
$50 .63s .A95 in excess Of the s6,ooo,ooo
paid out in dividends. The company
increased its surplus by more than
$42. 900, 900, and that item now stands
at ses,6S5,573. which is equal 10 about
90 per cent Of the $4,000, 100000 CAPT
tai stock outstanding.
Approximately sl1,OOO,oOo Of the in
crease in the 1916 surplus is under
stood to have been due to the appre-
citation in the value of equipment OF
subsidiary companies, notably the
Standard transportation Company
which took over the marine business
Of the New York Transportation Com
pany in the latter half of 1915 and
which had an exceedingly prosperous
year in 1915.
The comparative income account fol-
lows;
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-04-29

Of New York foreign exchange bankers
10 exercise control over gold move
ments arising out of exchange opera
tons and other matters bearing or
the international financial situation the
exports of gold to South America, Mex
leo and other countries in this hemi-
sphere have practically ceased. This
would indicate that perhaps much OF
the gold that had been going out OF
the country previous to the appoint
ment Of the committee had been for
enemy account, German interests who
were DESTROYS Of getting their funds
away from the United States. II is TO
stop such movements that the bankers
are working.
II you calculate the cost of the dollar
in terms of foreign money-that is, as
II you were buying dollars with pounds
marks or francs-its value at the close
of last week. as compared with year
ago, would be about as follows:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-04-29
Saturday, April 2S, 1917

A much disputed economic theory
is that prices are stabilized by free
speculation. or at least that the ten
dency is for speculation to stabilize
prices. In theory transactions in a
speculative market bring prices in
close alignment with values, because
the price at a given time is a COM
posite expression of all the available
knowledge concerning the exchange
value Of the commodity. Therefore,
the measure of a markets efficiency
in that respect is largely to be found
in the range of prices. When func-
tioning at it's best the range Of
prices is narrow. When artificial
restraints are imposed on trading,
and the interchange Of buying and
selling orders can no longer be made
with freedom, price fluctuations i'm
mediately tend to become much more
violent.
That, apparently, is what has been
happening recently on the wheat
market in Chicago. The marginal
requirements, through action OF
Board of Trade officials, have been
made much heavier and speculation
has been discouraged. AS a result,
in numerous sessions recently fuc-
tuations between sales frequently
have been as much as two and three
cents. whereas normally they are
fractional. mostly well unGe; one
ralf a cent. Now when buying or
ders of any consequence reach the
floor prices jump quickly because
they are not matched by selling or
fers; and a little later, if large SELL
ing orders come in, a decline just as
drastic ensues because buying orders
are lacking. That is to say, trading
tends to become congested on one
side of the market or the other. I'm
der such conditions it is impossible
for a buyer or seller of grain to
gauge his position with anything
like a reasonable degree of accuracy.
Among other things, this tends to
restrict the operations Of millers,
who find it difficult TO hedge their
sales Of -four with corresponding
purchases of wheat for future de-
livery.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-04-29
Other Cities

Drygoods Trade. - Chicago, April
2s.-Marshall Field e. Co., in their
weekly review Of the drygoods trade
say:
"Wholesale shipments Of drygood'
for the current week have been much
in excess of TIE heavy volume in the
corresponding period of a year ago
Road sales are running considerably
ahead Of the same week last year, fol
both immediate and future deliveries
Merchants have been in to market
in fewer numbers. Collections are
larger"
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-04-29
New York

No Argentine Embargo on Hides
The Bureau of Foreign and Domestic
Commerce has received advice from
Argentina to the effect that as yet an
embargo has not been placed on hides
and that inquiry among persons inter
ested indicates that such an embargo
is not likely to be put into effect in
the immediate future.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-04-29
26,463,25i

The 1915 net earnings were equiva-
lent to S4S.s5 a share on the 10000
shares of stock, compared with S2l a
share earned in 1915. The balance
sheet showed cash and current assets
amounting 70 SAL 677,9 04. against $50
9l6.550 shown at the end of 1915. Cur
rent liabilities as of December 81 last
were S22, 590,t42, compared with $l3,-
100000 for the previous year.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-04-29

small changes in the leading items de-
spite the large temporary displacement
Of funds during the week by the gov
ernment's 100000 900 loan to Great
Britain. That the changes were small
was accounted for by the fact that the
several operations incidental 10 the
transaction very nearly Offset one an
other. In the actual statement OF con-
dition the loan account decreased ST.
06S,O00, while the loss in the cash sur
plus amounted to s9,256,9s0. The move
ment in cash was apparently the most
important development Of the week, re-
serves OF the banks at the Federal Re
serve banks dropping si6,5l9, 900. Gre
serves in own vaults" and ain other de-
positaries" showed only a small in
crease. The surplus reserves of the
banks now aggregate S111,642, 220
Three months ago they were nearly
double that figure.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-04-29

According to some trade authorl-
ties, prevailing high prices Of wheat
are not to be ascribed wholly to the
shortage of supply. Another cause,
/ il is said, is to be found in unntelli-
gent buying for the Allies. On sew
cral occasions recently their agents
have acted in a panicstricken fash
ION and, apparently fearing that
they might not be able to get any
wheat at all later on, have offered to
buy at almost any price, thus forcing
the quotation up on themselves, and
incidentally on every one else. Such
buving has contributed Importantly
toward putting the wheat market in
an unstable condition. "The North
western Miller" points out the alb
surdity of such methods in its cur
rent issue, when it says of the Allies
agents:
They act precisely like a man who
is spending recklessly and lavishly
money which has Unexpectedly been
given to him; who wants to get rid Of
il as quickly as possible, and who
does not care what he pays for what
he buys, so that he gets 1t when ne
wants it.
These BUYERS are either badly sd-
vised, or else they are singuiarly
ignorant of the first principles oil
wheat buying. Evidently they believe
that there is not going to be enough
wheat to 20 around and are scram-
Hing for the lions share Of 1t, being
determined TO secure it at any price
OF course, such tactics simply force
I'D the price Of wheat the more they
are practised, not only for the Allies
but for all the people of the United
States.
The same authority says that this
iniudicious policy, combined with
government reports which exagger-
ate the seriousness of the situation
with respect to the growing crop,
has induced needless buying OF flour
hy individuals, with the result that
stocks needed for current use are
being seriously and rapidly depleted,
IL continues:
II is precisely similar to that con-
dition which Animstes a run on
bank; people do not really need or
want their money, but when they
think it is not there they demand 1t
and make a rush for it. Similarly,
those who ordinarily buy a sack OF
-four at a time for household use now
endeavor 10 buy several barrels to put
/ in store.
A barrel Of -four will last an indi-
vidual an entire year; in many cases
retail buyers are putting away SUM-
Gent to keep their households five
years. The aggregate Of this sense
less individual buying, rejected
through the heavy purchases Of the
wholesaler, comes 10 the miller and
causes him TO buy sufficient wheat to
protect his sales. just at the time
when the injudicious buying OF the
Allies and the bullish government re-
ports are putting up the price; this
Of course, helps still further the up
- x.ny.usnt NJ wheat
Il is asserted by one Of the largest
millers IN the world that II he could
actually deliver the -four now or
dered on his books-if the railways
would give him the cars TO DO it
within a week after such delivery the
wheat market would break.
The remedy for this run on the
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-04-29

The above rates express INC cost OF
foreion money in terms Of the Amer,
can dollar You buy an English pound
sterling for s4.75Ys, the intrinsic par
ity is s4.S6fs per pound mus you
say either that pounds arc AZ oIs
count or that dollars are at pre-
MUM, which is owing to the iact Una.
in England the demand tor dol!sts
with which to settle accounts IN TINS
country is greater than the demand 10
this country for pounds with when ~
settle accounts in England.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-04-29
Cost Of one dollar.

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 quo
tations for either marks or kronen are
no longer available.
Week
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-04-29
News Digest
Foreign

London Money Market. - London,
April 2s.-Thc Stock Exchange was
closed to-day. Money was quoted at
37s per cent. Discount rates for short
bills, AZ per cent; three-month bills,
413-l6 per cent. Gold premiums at
Lisbon, fSi.
Paris Market Inactive.-Paris, April
70. Trading was very quiet on the
Bourse to-day. Three per cent rentes,
81 francs 80 confines for cash; eX-
change on London, 81 francs 10 cen
times: per cent loan, IS francs 10
confines.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-04-29

Below is given the current exchange
value Of foreign money IN dollars ano
cents, together With the intrineiT golu
parity, as calculated by the oniteo
States Mint:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-04-29

The Union Trust Company of New York Established in 1900
has for many years made specially of Personal r-unde
Will or under Agreement-and maintains carefully organized
department for handling them.
MANY millions of dollars worth of properyreal and personal
been entrusted the company by conservative people
residents only of New York State but OF other states which
the Union Trust Company authorized transact business
Correspondence interviews with considering the tor
nation of trusts of any kindfor themselves for others
are solicited.
UNION TRUST CO., 80 Broadway
CAPITAL AND SURPLUS-$8, 900, 900
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-04-29
Money and Credit
Federal Reserve Banks
Washington, April rs.

Total resources Of Federal Reserve
banks increased approximately $4,000
600 since the last weekly statement and
have passed the s1,OOO,O0O,OoO mark
reaching s1,O23, 5S9,oOO. The statement
Of the banks condition April p shows;
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-04-29

Gold reserve against net deposit and
note liabilities, sS.s per cent. Cash re-
serve against net deposit and note liza
bilities, 1875 per cent. Cash reserve
against net deposit liabilities, after set
ting aside 10 per cent gold reserve
against net liabilities on Federal Re
serve notes in circulation, 1873 per
cent.
In the above statement the principal
items compare with one year ago as fol-
lows:
Total gold reserve. $3.50. Inc .S2tt, 054, COO
Bills discounted and accept
ances bought Inc. 37,410,oOo
Due TO member banks. Inc. 3o6,774,0OO
Net liability for notes Inc. e,375'Ooo
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-04-29

Sub'Treasury.-New York banks lost
TO Sub-Tressury 31,4e6,s24.
Silver.-Bars in London, SIX pence;
New York, "A cents; Mexican dollars,
5s% cents.
German Bank Statement.-Berln, via
London, April 2S.--The statement Of
the Imperial Bank Of Germany issued
April %, shows the following changes
in marie.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-04-29
New York Federal Reserve

New York Federal Reserve
Ne,o York, April %.
TIL. condition Of the Federal Reserve
Bank OF New York at the close Of busl-
ness Friday, compared with the preVl-
Gus week. follows:
RESOURCES
April q. April 20.
Gold reserve. .;23t osS,6 S7 500, 434,347
Legal tender
money ..... 1891 1,o<4 Io,foo,oo
Total res've .S254, s6O,311 S22t,21e,s78
Discounts 49,. 17,335,291 16,78o,265
/ Investments O.. 29,24I,SH 2S,24I,3T
/ Due from 9th
err Fed. Res.
banks (net). 1,5Sb,o2l
Federal Resve
notes net. to,e74,13o $685. 400
/ All other res'cs T2T,II2 oos,Aoo
Total res'cs .$3t3,244,s77 s27s.t23, 1903
LIABILITIES
Capital ....... s1t,ss2,e $50 s1t,8s2, 900
Member bank
depos. (neD. 24i,33s,o44 200, Io3'Slo
Govt. deposits. 1S,21o935 7,0TT,2so
Due to other
+. r. banks
(neD ...... 41,8t1,s48 -
Total lisbps $685. %4,ST7 S2Ie,,23,lu5
| Fed. Res. notes
outstanding. 1s3,5e3.s6o 1s','sS,Zoo
Secured as fol-
lows: Gold
dep'ted with
+. r. agent. 1e3,593,665 1sl,1oS-2oo
Clearing House Statement. 49, The
weekly statement, Of the New York
! Clearing House bsnks showed relatively
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-04-29
DIVIDEND NOTICES
WESTINGHOUSE ELECTRIC

MANUFACTURING COMPANY.
- dividend OF ono ard thre-qusrsrs per oset
~ ceru Per shGe) on tho COMMON stock a
tns company FOR the quarter ending March 81
1917. will b paid April 50, 1911. 20 stockholdrs
OF record A. OF April S, islf
New York. March 2s ieiY.
Norwich bulletin., 1917-12-14

if possible, and see if something could
 rot be done to help in the matter of producing this raw material. 1t was the one delegated to make this in
 vestigation and this is why I am here
 with you today. I was appalled, after investiEati ting to see how much of a reduction in the past few years had taken place in the sheep industry. Ey- cry one will have to take hold and do his part to check this fast increasing redncetioh. If possible the business of sheep raising should show an in- crease inNead of a reduction
 The sheep raising industry has
 relationship with the present crisis in four different ways: First. as the matter of food Today Is the cry for food conservation. Let us all take hold and assist in this by raising sheep to increase the better food. Sec ond, in the pr0ducfion of raw mater ials fer the manufacture of clothing. You 6H know how important this is to everyone in our good United States. The sheep raising business has more to de in the matter of clothing than any other line producing raw mater iais- Third, as a part of the necessi- ty of restoring the soil for better ag-. riGnltare. Agriculture is one of the foremost vital questions today and sheep growers help materially in bet tering the soil for this work Fourth, It has one of the broader aspects on the duestfon of national preparedness. TheeA four reasons are sufficient b bring out a much increased business.
Norwich bulletin., 1917-12-14
WISDOM OF USING
 SHORT LIVED FOODS
Statement Issueds by United States
 Food Administrator.

An Illustrative of the wisdom of us- ing short lived foods the United States Administration has issued the following statement:
 "Food conservation and economy go hand in hand, but restrictions on diet should not lead to scantv meals. Wheat, meat. fat. sugar and fuel we must have to caIty the nation through the war, yet our bodies must not be poorly nourished nor reed the pleas ures of our peIates be Iessened by these fig necessary sacrifices.
 'The sranaries of our country are ley, and we may meet the body's de- rnands with these as well, or better, than with fine white four. Our honA makers can prepare from these grains dishes as palatable as those from wheat. with a new appeal to the sense of taste. In this national crisis we must, for bread supplements use at home to their fullest extent. those food materials that are too perishable too fragile. or too bulky to be sent to our soldiers and their comrades at the front
 s'In potatoes are united an abund- valuable mineral salts. and a distinc- tive appeal to the palate Of this val uable food we have a surplus of mill lions of bushels, yet because of their bulk we cannot send them across the water without interfering with the transport of troops. munitions. or more condensed floods. They must largely be consumed at home, and the nearer where they are grown the bet ter
 Poultry and eggs have accumulat-