davidaulloa/AmericanStories huggingface dataset:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-04-14

ordinary politicians. As Mr.. Gladstone,
our greatest public financier, once
put il:
"Modern war is associated through
out in all its particulars with vast
and most irregular formation OF COM
mercial enterprise. There is no in
centive to mammon worship so remark
able rs that which it affords.
1.-THE political economy Of war is now
one Of its most commanding aspects
Every farthing with the smallest ex-
ceptions conceivable of the scores or
hundreds of millions which a war may
cost goes directly and very violently
10 stimulate production, though 1T IS
intended ultimately for waste or Tor
destruction. Even apart from the TACT
that war suspends, pso facto, every
rule Of public thrift and tends to sap
honesty itself in the use OF the public
treasure for which it makes such I'M
bounded calls, it therefore is the great
est feeder of that lust of gold which,
we are told, is the essence OF com
mercc."
As to the moral side of war finance
Mr.. Gladstone thought it resembled the
finding of a new gold field more than
anything else. Thus now we find our
selves as nation looking out from the
sunshine Of actual industrial prosper
ity into a future darkened by debt and
imperilled by prospects of prlvatlon
mi ,riLnsnrnad nnmnlnyment
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-04-14
New York

New Insurance Risks Proposed. An
amendment to the insurance laws OF
the State Of New York making It pos
sble for fire companies to write Eek
plosion" and "insurrection" insurance
is now under consideration.
There has beer no great rush on the
part Of property owners 20 take out
bcmbardment insurance since the bill
lcgalizing such risks was signed by
Governor Whitman.
An estimate that 100000 900 OF sucn
insurance had been taken b. New York
property owners since the declaration
of war on Germany was branded as an
exaggeration yesterday by local insur-
ance underwriters. The figure, At was
stated. had not gore much above the
si0,000,000 placed q tor,night ago be-
fore it was discovered that the writing
o. such insurance was Illegal under
laws OF New York State.
Sioss- She fiield-The meeting of di-
rectors scheduled for yesterday was
adjourned until next Tuesday, when, II
s expected the advisability Of continu-
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-04-14
Loan to Portugal Deferred

Negotiations undertaken by the gov-
eminent Of Portugal for the purpose o.
obtaining large loan in the United
States, bankers said yesterday, have
been suspended. II is stated that The
proposition had the approval OF inn
portant banking interests here, but &C
ton has been deferred pending the is
suance Of the American loan to the Al
lies. 1t is believed now that Portugal
will participate under the auspices Of
Great Britain in the forthcoming So
000,00O.00O credit advance TO be made
by the United States to TIE Allies.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-04-14
Economics Of War

Experience shows that waste in war
is unavoidable. Even Mr.. Gladstone
had to admit that after his experience
as Chancellor of the Exchequer in the
Crimean War. But waste may be linn
tied by publicity and by the employ
ment of the best business ability in all
public contracts. You cannot have 100
many checks upon corruption, provided
that they do not clog the whole ma
chine. FOR. after all. the finance Of
modern war is almost unfathomablc
and far beyond the comprehension OF
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-04-14

The above rates express the cost Of
foreign money in terms Of the Ameri-
can dollar. You buy an English pound
sterling for S475%. the intrinsic par
ity is S4.S66s per pound. Thus. you
say either that pounds are AZ q dis
count or that dollars are at n pre-
MUM, which is owing 10 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 =
settle accounts in EnglanI.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-04-14
Dollar in Foreign Exchange

Duless prevailed in the foreign eX-
change market yesterday. Rates moved
narrowly, when at all, and the net
changes at the end of the day were
unimportant. Sterling rates were
somewhat frmer.
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, 1917-04-14
DIVIDENDS
Relevant Facts

United States Steel Corporation. 30
Commenting yesterday on statement
contained in the market letter Of
stock Exchange firm 10 the effect that
the Steel Corporation may use con
siderable part OF its each resources IN
the retirement Of outstanding bonds,
Z. II. Gary, chairman of the finance
committee. said this matter had not
been suggested to or considered by the
board. The brokerage firm said: "The
present discussion has turned in the
direction of the retirement by call at
10 of the entire issue of the ten-siXty-
year second mortgage 3 per cent sink
ing fund bonds, OF which about $751;
ooo. 900 are outstanding. The annual
saving Of interest and sinking fund ap-
propriation by this operation would
amount to about per cent on the
common stock, and the owners Of this
latter issue will without doubt see IN
such policy plan much more to their
AhNouNdEt IMAM any lA'4t 1~N'iA+b "e''NN
of s25,OO0,0O0 in a good quarter for a
reserve fund"
vi New Haven.-The expected retire
ment Of Howard Elliott as president Of
the New York, New Haven Hartford
Railroad will probably be FASTENED. as
the result of his appointment as a
member of the committee Of five rail-
~ d. -, a..
10y M.
- -.
~ P'','", poo 49, ''''' 80 ,'''
man " ''' V"'" anu ny W ~
90 ~ --'""'" o.
''' SUM- ''''' ''ee-P- c,''''''''
PHILADELPHIA. Baltimore & Washing
ton Railroad. Operating revenues for
1916 were S25.546.2S7. an increase OF
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-04-14
Elections

2. p. Stevens and Robert Lindsey
have succeeded Samuel McRoberts and
George 4. Galliver on the executive
committee of the Republic Railway and
Light Company.
4. ". Brown and Joseph f. Levi have
feen elected members Of the Consoli-
dated Stock Exchange.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-04-14
ReRexes Of War

The issue of paper money By zoe
Bank OF Spain was limited by roy''
decree of August ;. 1914, to $l5O,OOo'
coo. AID although this amount has no.
at present been reached, the margi
has been appreciably reduced by fur'n'
or issues since then. The rapid eco
nomical development Of the eounu'
necessitatcs an abundance Of reao!
money, and the metallic reserve nov
in the Bank of Spain is SUFFICIENT "
guarantee a considerably greater nun
Der Of notes than now available. ~
cordingly. a royal decree publisne'
March II authorizes the Bank OF Spa.n
% augment its paper currency, s
total value OF new notes. with mo-
now in circulation. not to exceed $''''
100000.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-04-14

ANDREW + MCCORMACK. Auctione.r
REGULAR AUCTION SALE.
STOCKS AND BONDS.
by tDhlAS II. MULLER & son.
OFFICE. 20. % WILLIAM ST,
WEDNESDAY. APRIL ~. 1917.
a. 1870 O'Clock ar The
EXCHANGE SALESROOM.
nos. Il MD iG NESEi STREET.
q sins. The Hutch.ns Securities Co.
iI002i.S3 Judgment agalns, Felix Isnan.
secured b. 50 shares Borough The.
atre CO.
$500 Judgment asalns, Joseph Ares
20 ,bs santa p. God Copper Mn
10000 shs sun 8 Moon Mining & Milling
70 shs Empire City safe Deposit Co
c2l3-l6 s1s New MeNico COLORADO
Coal and Mining Co s. r. a.
SIN. Cooperative Garago Co.
p shs 1921 Broadway Co.
g. 900 Now Mexico Colorado coal and
Mnins 90 Series \ Bonds an cou.
pous attached.
For account ~ Whom n Nay Concern
sha German American Insurance.
. shs German Alliance Insurance GO.
- shs %"w York Railways GO.
$1,000 Progress Club. y. T., g. Bond, 1879
% -hs. L"hieh VALLEY Coal sales CO
100 sins. Eutz Motor Patents 60 prefd.
with 100 shH common bonus.
100 shs. Federal COMPANY. Inc. prsii
$4,000 International Great Northern RNy.
So Notes. due 1914
900 els Van Brunt ST. & Erie BASIN
a. r. y n. o.
$500 N'v York q Harlem r. r. ~
b. 1000
30 ,hs Hudson County Consumers
Brew ing 90.
p shr. Gibraltar Realty Co.
-1 sNs Rank 81 New Castle
$1,000 Srslunhanna Coat q coke Co ist
Mtg. So BIDS, 1910 May. 1914 cou-
pua Oh.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-04-14

at ~ per cent, with only small
amount of business moving.
Official rates of discount Of each OF
the twelve Federal district. are as fc.'
lows:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-04-14

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, 1917-04-14
COPPERS
Too high or too low? How to
Judge them.

The article in the current issue OF
The Investment Weekly viii be of value
to you IN making your decision. Other
features include Industrial Alcohol, AmerI-
can Beet Sugar. Nirginian Railway. Denver
Gas & Electric, Prof. Johnson of u. OF
Penn. on Federal Regulation, Law for thu,
Investor, Investing for Business Reserve and
1876 news items. Ten cents at all news
stands or thirteen issues by mail for a
dollar bill. AZ Bwy., New iork
The Investment Weekly Dept. R
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-04-14

Investment Firm MOyes.-L. f. Roth
schild q Co. have moved TO their new
Offices in the Equitable Building.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-04-14
Money and Credit

While time money on brokers Stock
Exchange collateral was in somewhat
better supply yesterday, rates were
quotably unchanged. The bulk of the
lending was on loans based on indus
trial securities, with the longer maturi-
ties quoted at ~ per cent.
Call money ruled unchanged at 2ii
per cent.
Ruling rates on money yesterday.
compared with a year ago, were as fol-
lows:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-04-14

Following the cancellation OF '''
contract with the Ross Rihe OonP""..
in respect Of the last instalm men me ne
100000 rifles. it is announced '.'S' no.
Canadian government intends 70 ssr.
duce a uniform rifle Of the bri'lsh ~
vice pattern.
The Norwegian Board OF supp.
has submitted an urgent request "
the government that the export o. S,s si,s
Der from Norway shall be Iolo .. Of
until the country's requirements
fuel have been provided for
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-04-14

Curb Association to Raise Flag
Curb brokers will give a rousing DEM
onstration OF their patriotism at noon
to-da-. whom the ceremonies attending
the raising Of a large flag in Broad
Street by tho Curb Market Association
will take place. Mayor Mitchell and
other city officials are expected to be
present.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-04-14

ing the present per cent dividend on
the common stock viii be discussed.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-04-14
Tax Yields $lO,OOO,OO0

The tax on the emergency circulation
FOR the year ended June 30. 1915,
amounted to nearly $3,O00O00. Th"
regular circulation tax on the bond Sc
cured notes for that twelve months was
81. 9OI 900. The tax on the regular ma
tional bank circulation for the year end
cd June 80 last was s3.745,o00. In two
years. therefore. total OF more than
10000 900 has been received from the
tax on national bank circulation.
Under the terms of the bill as pre-
sontcd the deposits which would b."
guaranteed would be construed TO mean
and includ, all liabilities Of bank. OK
cepting capital. surplus. unpaid div
dends. circulation and United States
deposits. and depositors would be con
strucd to mean and include all persons
to whom such liabilities were due.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-04-14

Sub-Treasury. - New York bank
lost to Sub-Treasury s110,2S3.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-04-14
Guarantee of
Bank Deposits
Now Proposed
Owen Bill Aims at lndem-
nifty Fund for Federal
Reserve System

Bankers were much interested yes
terday in an announcement that Sena-
tor Owen, chairman of the Banking
and Currency Committee, had intro
duced a bill in the United States Senate
having as its object the guarantee OF
bank deposits in the Federal Reserve
system. Heretofore the introduction OF
the bill had escaped notice in banking
circles owing to the interest in the
governments war financing. Banking
opinion in the East has not been unani-
nous in its approval of the guarantee
of bank deposits rs practised in some
Western and Southern states. 1t has
been argued by those who oppose tn"
idea that n guarantee Of this character
places a premium on bad banking.
Method of Raising Fund
The Owen bill, introduced week
AGO. is designed to indemnify deposltors
in "member banks" as defined by the
Federal Reserve act against loss IN the
event of a failure or suspension OF
business of such banks. The indemnity
fund is TO be created out OF the pro-
ceeds of the tax on national bank CIR
culation collected since January l, IVA
The fund is TO be accumulated from
this source until it amounts to per
cent Of the average deposits Of the
member banks Of the Federal Reserve
system. and is TO be under the control
and supervision Of the Federal Reserve
Board. 1t is stated that the reason
for appropriating the national bank cir
culation tax collection from January l,
1914, is to take advantage of the larger
revenues received from this source on
9ccount of the emergency circulation
nut ont IN I9l4-'1j. aggrcgatlng $751;
600 900. in addition 20 the regular ma
tiOnal bank circulation.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-02-07
Failure of Cartridges
Thrice to Explode Saves
Comrades Life
SECOND CAPTIVE
ESCAPES IN FIGHT
Alleged Robber Pulls Re-
volver from Shoe, Though
He Had Been Searched

Philip Smith, twenty-eight years old,
sat beside Detective Frank Deishly on
A southbound Second Avenue surface
car last night, on his way as prisoner
to the Third Branch Bureau, in 10th
Street. Several seats ahead sat De-
tective Joseph L. Sicily with another
prisoner, taken with Smith on rob-
perry charge.
Smith bent down 10 tie his shoe
string. As Detective Deishly's watch
full eyes followed Smiths fingers he
was startled TO see him draw from his
shoe a revolver. Deishly's amazement
was the greater because both Smith
and the other prisoner had been
searched after their arrest.
AS Smith rose quickly, gun in hand,
Deishlv grappled with him and shouted
an alarm to Sicily.
Prisoner Overcomes Detective
Slowly, despite the detectives hold
on his wrist, Smiths hand rose, grip
ping the gun. By main strength he
gradually brought the muzzle on a
level with Deishly's body. Thrusting
the weapon against the detectives alb
domen, he pulled the trigger three
times But the cartridges did not ex-
plode and the weapon clicked harm
lessly.
Leaving his prisoner at the front Of
the car, Sicily rushed to Deishly's aid.
Smith wrested his arm away from
Deishly in time 10 turn his weapon
upon Sicily. He pulled the trigger
and the hammer clicked with no re.
three feet away, and this time there
came an explosion; A bullet ploughed
its way through Skelly's left thigh.
Despite his wound, Sicily leaped on
Smith with his blackjack The pris.
oner fought back desperately, but soon
the two detectives had beaten him into
submission.
Skelly's Prisoner Escapes
In the meantime, however, Skelly's
prisoner had opened the front door Of
the car, leaped out and escaped. The
motorman, tsrrorized by the shot,
made no attempt to stop him.
Although suffering from his wound,
Sicily continued to the Sd Branch Blu
reau with Deishly and Smith. There
an ambulance WAS summoned from the
Harlem Hospital, and both Sicily and
Smith were treated by DR.. Johns.
Sicily was then taken TO his home. 1913
East Ninety-fourth Street.
Smith said he was a plumber, liv-
ing at 255 East 12Sth Street. He was
held on three charges assault and
robbery, felonious assault and viola
ton of the Sullivan law. He refused
to disclose the identity Of the man
who escaped.
The robbery charge against Smith
was preferred by Bernard Brauner. an
advertising solicitor. Of 25l West
Hath Street. Brauner appeared at the
Sd Branch Bureau last evening, and
reported that three men had set upon
him as he was passing 200 East l2Sth
Street. at o'clock. He said they had
dragged him into hallway at that
address. beaten him and robbed him
Of 81. y
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-02-07

Howard Z. Coffin, a member OF the
Naval Consulting Board and chairman
of the Committee on Industrial Mobili'
ration of the Council for National De
fence. persuaded the National Civic
Federation yesterday TO appoint a
Committee of Fifty 10 cooperate in the
organization Of skilled labor for the
countrys defence.
This committee. whose personnel VIII
be made public to-day, Will include IN
it's membership representatives OF all
industrial classes -capitalists, labor
leaders, agriculturists. professional
men-to be found in the federation.
" Everit Macy, president Of the fed
Grafton, will also appoint committee
of three with headquarters in Wash
irgton, whieh is 70 give its whole
time 70 the problem Of industrial!
mobilization.
The formation Of this committee OF
fifty, to be known as the National De-
fence Committee Of the National Civic
Federation, was decided upon at .
meeting of the executive council OF
the federation yesterday at the Bank
ers' Club. This meeting lasted from
until o'clock and was addressed by
Mr.. Coffin, by Samuel Gompers, presi-
dent Of the American Federation Of
Labor, who is also a member OF the
executive council and of the Council
for National Defence, and by Major
General Leonard Wood, among others.
The deliberations were informal and
private. but were all directed toward
the solution of the problem Of indus.
trial mobilization, with the object Of
benefting, if possible, from the eXpe-
rience of Great Britain.
Warned by British Errors
Great Britain, it will be remembered
permitted her volunteer army to re-
cruit its members from among her
large class of skilled mechanics, with
the result that later she was obliged
to call back from camp and battlefield
a many of these recruits as she could
lay hands on for the much more i'm
portant work at home of manufactur-
ing the munitions Of war. The Council
for National Defence, through its COM
mittee on industrial mobilization. is
bending its energies to prevent a pos
sibility Of a repetition Of this blunder
in this country.
One of its first labors will be the
preparation of list of all workers a,
present engaged in the manufacture
Of munitions. Mr.. Gompers has prom
Used his hearty cooperation in this
matter and will do all in his power to
further industrial mobilization in gen
eral. He opposes. to be sure, the pro-
posal now before Congress TO repeal
the eight-hour law effective in Federal
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-02-07

summer at Erskine. n. j., was present
in uniform with a number of her lieu
tenants.
Among the other women at the meet
ing were Mrs. William X. Vanderbilt,
Miss Anne Morgan Mrs. Charles Biddle,
Mrs. Simon Baruch. Mrs. Arthur NJ.
Dodge, Mrs. James Cushman, national
president of the Young Women's Chris
tian Association, and Miss Lillian d.
Wald.
The woman suffrage army enlisted
Yesterday for possible var duty. The
haIf-million enrolled members Of the
Woman Suffrage party were pledged
by Mrs. Norman de Il. Warehouse,
chairman of the party, 10 active SER
vice i'm case of war. Mrs. Whitehouse
and delegation of suffragists. started
last night for Albany to offer the reso-
lutions Of the executive committee to
Governor Whitman.
At the same time committee OF
the New York City Woman Suffrage
party. of which Miss Mary Garrett
Usy Is chairman. sent letter TO Mayor
Mitchell pledging the services oil the
sufrragists OF the city to be organized
into a home defence league.
Congressional Unions Pledge
The New York City branch OF the
Congressional Union also passed a
resolution yesterday pledging itself TO
service. 4 meeting Will he held on
February % at the Ritz-Carlton to pro.
test against the elimination Of women
from the national proceedings. Miss
Doris Stevens, who came up from
Washington yesterday, stated that no
steps had been taken TO withdraw the
silent pickets from the White House,
and that it was Miss Alice Paul's
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-02-07

theory that if the United States wanted
women's services in time OF war, II
should first show it's appreciation oy
giving them the vote.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-02-07
5000 COLUMBIA
WEN BACK WILSON
Sing" America" on Campus
After Stirring Patriotic
Gathering

Three thousand Columbia students
stood bare-headed on the snow-covered
campus yesterday and sang America
That was their way of concluding
the patriotic mass meeting which they
had lust attended in the university
gymnasium. They had kept silent
while President Nicholas Murray But,
Ter had described ":he slender thread
supporting peace; they had cheered
frantically when he told them That the
United States needed the support OF
every American youth. Now, while
they were singing, telegraph Key Wa
sending this telegram to president
Wilson:
"At general assembly at Columbia.
University. attended by thousands OF
officers and students, earnest and en-
tbusiastic support was pledged to the
service of The nation whenever the
call shall come. Nicholas NJ. Butler,
president A..
When the men streamed out OF the
gymnasium at the close of the meeting
each carried a card bearing this I'M
signed pledge; -, Wiz.
sity, / desire to offer my services to
the country at this critical time, IN any
capacity for which | may be quallhed
by the properly constituted authorl-
ties"
The students had been warned to
sign these only after conscientious
thought. By the middle of the after
noon hundreds had been returned,
signed. to Frank ID. Fackenthal, secre-
tary Of the university.
INSPECTOR Dwyer, of the New York
police, also took the names OF several
hundred men who were willing TO help
guard the city's water supply If crisis
came. and police and glardsmen were
needed elsewhere.
"There have been solemn and impress
sive moments in the life of this uni
versity," Dr.. Butler began. "and there
is a solemn and impressive moment
now. When the farmers at Concord
Bridge fred the shot heard round the
world. the men of old Kings College
offered their services. Hamilton, Jay
and Livingston went out Of that LITTLE
college to lay the foundations OF
nation. In 1861. when Abraham Lin
coin issued a call for volunteers, the
halls Of Columbia were vacant because
Of the company Of students who turned
their faces toward the light.
1--WE are now facing crisis IN the
history of our nation and in the history
Of mankind which quite takes ITS place
beside those great crises. | feel with
confidence that | may promise TO the
President the unanimous support OF
Columbia in that great duty
The crowded gymnasium shook WITH
the roar that followed.
Dr.. Franklin II. Giddings. professor
Of sociology, followed DR.. Butler anC
assured the students that there was
no danger Of the United States becom
ing q militaristic power.
"This nation occupies the uncomfort
able position Of pac,iIst in wartime,
said Professor John Erskine. "and it j
open for any one 10 say that We have
STAYED out Of war for selfish reasons.