davidaulloa/AmericanStories huggingface dataset:
Tulsa daily world. [volume] (Tulsa, Indian Territory [Okla.]) 1905-1919, 1917-12-30
Cattle Tick Fradica dion.

NEW ORLEANS, Dec. 29.-Federal
employees of the United States bureau
OF animal industry. who have been IN
ch1rge OF cattle tick eradication in all
southern states, will hold conven-
tion In New Orleans January Is to II
Inclusive. II was announced today.
Tulsa daily world. [volume] (Tulsa, Indian Territory [Okla.]) 1905-1919, 1917-12-30
Thieves Enter Depot.

MIAMI, Okla, Dec. 29.-Thieves
broke into the NJ. O. * q. depot last
night and stole a valise. which they
filled with brass oil cups. spark plugs
and platinum points, valued at some
thing like $500. No trace of the rob-
bers has been found by the Officers.
Tulsa daily world. [volume] (Tulsa, Indian Territory [Okla.]) 1905-1919, 1917-12-30
THOUSANDS HAVE KIDNEY
TROUBLE AND DON'T KNOW IT

Weak and unhealthy kidneys cause
en- much sickness and suffering and
when. through neglect or other
causcs. kidney trouble Is permitted
10 continue, serious results may be
expected.
Your other organs may nesu attcn-
tion-but your kidneys should have
attention first because their work h
most important.
III you feel that your kidneys are
the cause OF your sickness or run
down condition commence taking Dr.
KiImcr's swamp Root, the great Kid
ney. liver and bladder medicine, be-
canse II it proves to be the remedy
Won need and your kidneys begin 10
improve they will help all the other
organs To health.
Prcvalcncy OF Kidney Disease
Most people do not realize the
alarming increase and remarkable
prevalency of kidney disease. While
kidney disorders are among the most
common diseases that prevail, they
are almost the last recognized by
patients, who usually content them
selves with doctoring the effects.
while the original disease constantly
undermines the system.
SPECIAL NOTE--You may obtain
enclosing ten cents to DIR. kilmer
the opportunity to prove the remarks
also send you a book OF valuable
thousands of grateful letters received
found Swamp-Root 60 be just the rel
der troubles. The value and success
our Naaders are advised TO send for
mar A. Co. Binghamton, N. Y. BE
TulsG sunday World.--Adv.
Tulsa daily world. [volume] (Tulsa, Indian Territory [Okla.]) 1905-1919, 1917-12-30
UNXO Nnrielics

Tcacher-Nuw Robert. can you tell
me how bat hangs with his head
downward?
Bobby-Please. rliss. do you mean
r. chimney bat or an acrobat:
Tulsa daily world. [volume] (Tulsa, Indian Territory [Okla.]) 1905-1919, 1917-12-30
A DiplOnlat.

The man who gives In when he is
wrong, said the street orator. is a wiss
man, but he who gives in when he Is
right is
Married! said a meek voice in the
crowd.
New-York tribune., 1917-07-17
Plan Resumption of
Canadian Financing
In This Market

Reports reached the financial district
Yesterday that Sir Thomas White, the
Finance Minister of Canada, has de-
cided to seek a conference with official S
Of the Treasury Department at Wash
ington to discuss business relations
between the United States and Canada.
Il is understood that he will endeavor
TO secure from this government ad-
vances to the Dominion. Failing that,
the question of reopening the New
York market to Canadian issues VIII, IL
il said, be discussed.
When the United States entered the
war negotiations for the fotation of
numerous Canadian municipal and cor
porate issues had either been COM
pleted or were under negotiation.
Among other operations of this char
acter, it had been planned TO cancel
100000 Canadian Pacific Railway
sterling securities, outstanding in Eng
land, and reissue them in this market.
That, however, was triangular trans
action, undertaken for the purpose of
rectfying sterling exchange, and as
such was of less importance to the
Dominion than the fotation here of
numerous municipal issues which were
in prospect when our entrance into
the war upset the plans.
II the reports OF the pending con-
ference between Sir Thomas and the
Treasury Department are true, it is
not impossible that negotiations for
the sale of Canadian municipal securi-
ties here will be reopened as a re-
suit. 1t is, however. considered unlike
ly that the transfer of Canadian Pa
cifc securities from London TO New
York will be effected
New-York tribune., 1917-07-17
Rush to Obtain
Export Permits
At Local Bureau
Licenses Issued Without
Consulting Washington
to Hurry Shipments

Hundreds of applications for licenses
TO export goods under the embargo
act were granted yesterday at the local
Offices of the Bureau of Foreign and
Domestic Commerce.
The decision of the government to
permit the New York district office OF
the Commerce Bureau to issue licenses
permitting the shipment abroad of GER
tain classes of merchandise without
consulting Washington met with gem
eral approval among exporters. 1t IS
said that under this plan shipments
will be greatly facilitated and that as
one result freight congestion at this
port will be relieved. Other ports in
the New York district will also benefit
Philadelphia firms, for instance, may
obtain licenses here if they so desire.
Quick Action
Stanley H. Rose, who has just taken
charge of the New York Office, ex-
planned that it is the intention to pass
on applications as expeditiously as
possible.
"We are not holding up anything
more than we have TO-" said Rose.
Naturally, in situation of this kind,
a good many questions arise which
must be referred to Washington, but
hourly phone connections enable us to
keep in close touch with the officials
there. In all cases where it is pos
sible we are actually signing the
licenses. Where applications must be
passed on in Washington we are max
ing every effort to have the license
back here as quickly as possible. Al
ready exporters have received through
this Office licenses from Washington
within twenty-four hours after making
their applications here. The business
men seem to appreciate the effort we
are making. and so far only small
number of complaints have been re-
ceived in connection with this work"
Working Overtime
Mr. Rose only recently resigned a
position in the export department Of
a Philadelphia concern to become man.
ager of the New York district Office
He served in the same capacity on a
former occasion. Extra clerks have
been hired. and the whole office force
is working overtime to keep up with
the work of granting licenses.
Washington, July 49, Secretary
Redfeld announced to-day the appoint
ment of J. A. Parker, of New York, as
steel expert for the Bureau of Export
Licenses.
Mr.. Parker has been at the head of
the export division of the United States
Steel Products Company.
New-York tribune., 1917-07-17
Bankers Meet to Plan
Liberty Loan Campaign
Governors of E Federal Reserve
Institutions Confer in New York

Preliminary discussion Of questions
relating to the offering and distrIog-
tion of the next instalment of the L'o-
erty Loan will take place to-day, wheh
the governors of the six Eastern Fed
eral Reserve banks will meet for con-
ference at the Federal Reserve Bans
of New York. The governors VINO WI,
be present at the meeting are Alfred
/ Aiken, of the Federal Reserve Bank
Of Boston; Charles J. RhOads, Of the
Philadelphia bank; E. R. F9nsher, cher Of Of
the Richmond bank, and J. B: Nc
Dougal, Of the Chicago bank. Pierre
jaw. reserve agent of the local bank.
will act for Benjamin Strong; Jr7 gov
ernor. who is now in Colorado
Guy Emerson, vice-president OF the
National Bank of Commerce, and VINO !i,
is handling the Liberty Loan Publlcity
for this district, said yesterday tnas So
headquarters would be opened IN the
Eouitable Building before the end OF
the week
New-York tribune., 1917-07-17

How utilization of the rediscount
privilege may avert serious money
disturbance was well demonstrated
during the day. There was first
demand for call money, with little
or none offered. The rate went up
a point or two, and some funds were
bought out, but not much. Bidding
for money continued, and the rate
was quickly run up to 10 per cent.
Thereafter, as the most pressing de-
mands were satisfied, the rate
dropped sharply, closing at 4 per
cent. Instead of this, we might have
seen 10 or 20 per cent money had it
not been for the fact that two or
three of the leading banks, realiz-
ing the possibilities in the situation,
lediscounted heavily. This had an
immediate effect upon rates, because
ii gave some assurance that the stu
alton would not be allowed to be,
come acute.
New-York tribune., 1917-07-17
Russia Places
Contract for
500 Locomotives

The Russian government has placeu
contract for five hundred large
freight engines with the American
Locomotive Company and the BALDWIN
Locomotive Works, equally divided be-
tween the two companies and invoiV-
inc an expenditure of approximately
$40. 900 900. The locomotives VIII De
of the Decapod, ten-wheel type, hve-
foot Russian standard gauge, and are
TO be used on the Russian state rail-
wavs. Delivery will be distributed over
a five-month period, beginning teo-
ruary. 1918, at the rate Of one hundred
These orders for locomotives, follow
inc the placinp recently of large con-
tracts for freight cars for Russian ac-
count and the buying of equipment
on such a large scale, IL is expected
will enable that country in time TO
overcome some of the transportation
difficulties which now hinder its de-
velopment.
In placing orders for equipment the
Russian government, 1t is SAID, mas
been wont to counsel with the Amer
ican engineers, who have been making
a thorough study of the railway needs
of the country. Although greatly IN
need of more efficient transportation
as war measure, Russia is building
and eauipping her railroads now with
the development of the nations great
natural resources after peace IS de-
clared, in view.
Another order for one hundred con-
solidation freight locomotives, 1t IS re-
ported. has been placed with the Bald
win Locomotive Works by the British
aggregating a cost OF So
100000. These locomotives are TO be
delivered during the next six months.
New-York tribune., 1917-07-17
Corporation Returns
Dividends

American Zinc, Lead 4 Smelting. -Regu-
lar quarterly dividend Of Sl.50 on the pre-
fcrred stock. payable August l to stockhold-
ers Of record July 81.
Packard Motor Car.-Regular quarterly
dividend Of per cent on the common stock.
PAYABLE July 81 to stockholders OF record
July is.
Kelsey Wheel.-Reguiar quarterly dividend
Of Sl;7o on the preferred stock. payable Au-
gust TO stockholders OF record July II.
Commonwealth Power, Railway a Light
Regular quarterly dividends of ". per cent
or the preferred stock and per cent on the
common stock. payable August | 10 stock
holders Of record July 20.
Ne" England Fuel Oil.-Dividend Of 81 a
share. payable July 20 10 stockholders Of rec
ord July l6.
Penmans. Ltd.-Quarterly dividend Of III
per cent on the preferred stock. payable Au.
New-York tribune., 1917-07-17
Accumulated Dividend
On Crucible Steel
Are Paid in Full

Pittsburgh, July 16.-The Crucible
Steel Company declared per cent
dividend on the preferred stock at its
regular monthly meeting to-day. there
by disposing of the accumulated div
idend on the preferred, and placing the
common stock. in line for dividends.
The dividend is payable August 81 to
stockholders of record August Is.
The regular quarterly dividend meet
ing of the company will be held Au-
puet 16
New-York tribune., 1917-07-17
United States Places
War Orders in Canada

Orders for 81 100000 worth of blankets
have been placed among Canadian man
ufacturers by the United States gov
ernment for army purposes. according
to the head of one of the largest in
dustrial corporations in Canada. Or
ders have been distributed with PEN
mans, Ltd, the Toronto Carpet Com
pany and the Smart-Woods Company
has been awarded a large contract for
tents. The specifications were submit
ted to Canadian mills with prices fixed
by the United States authorities.
New-York tribune., 1917-07-17
The Dollar in Foreign Exchange

Rates moved irregularly in the local
foreign exchange market yesterday
Russian rubles were easier at 23t
cents, while Swiss francs advanced
again. touching a new high record for
the war period of 1862. scandinavian
exchange was slightly easier.
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., 1917-07-17
SHEFFIELD COAL AND IRON CONF

petaul, having been Tiise Te.r - Ger. en- o.
ment OF the Three year sn I've Corrsp
lateral Trust Notes Of ne eos..S,r 10 S
issued and- now outstanding "a Nsrss.
lateral Trust Indenture, T,us;s. ~
1908. to the undersigned, as ,aly 81 W
undersigned will, on TUESDAY - he Ctsn,,
az II O'Clock 10 the forenoon csuny 90
bers Street entrance OF tn' work. Be,sss.
Of 'Sis Manhattan. al W city q New wlaonaily aSriily sr
front door thereof either pa. 10 ne ~.
est and best bidder In one ,..Sosos.tst .Ss !. ~ "
entirety. the collateral ~ VII. W.,
pledged TO secure said Notes sss TreS
principal amount of First 'nrsnls 0. -
Company. issued under US s.s,sd .d N.,sc
undersigned. as Trustee, os oa and hs
% 1903. With coupons ma,urins ,SSsS.tssf SS ~ ~.
January /. 1919. attached, =, the tn.'s
ali right, title and interes,, ~ redssG1"
signed therein and the rlsn
thereof
July 10. 1917 ,,xy. Trustee,
is Wall street New <
New-York tribune., 1917-07-17
Finance = Economics
WALL STREET OFFICE: Telephone
Building 10 Broad St Hanover 65l4

but, unfortunately, the majority
have not followed their lead. Prob
ably they will in time; possibly the
time is not far distant. 1t is mat
ter of education, which is usually
slow process, but the process may be
FASTENED by necessityjn this case.
New-York tribune., 1917-07-17

There was more "outside" trading
during the day than there has been
for some time past, and it played
an important part in sustaining
values, because much of it was on
the constructive side Of the market.
Curiously enough, until we'll into the
afternoon, when there was some
profit taking by professional opera
tors, most of the buying orders came
over the wires of houses with West
ern connections. The head of one
such house went so far as to de-
scribe the market as "a tug-of-war
between the East and the West.
The West is just as prosperous as
the rest of the country, and appar-
emily it lays less stress upon Wash
ington news, and has more conf
dence in the future than the East.
It has the habit of optimism and
seldom, if ever, does it sell securi-
ties for fall. The Western specu-
lator often holds on to his stocks in
the face of a declining market, pill
ing margin on margin, long after
his Eastern prototype has run for
cover. Just now he figures more
Importantly as market factor than
is usually the case, because the
speculative fever must have an out
let, and, barred from trading in
grain, he has been confning his op-
erations to the stock market.
New-York tribune., 1917-07-17

in loans and discounts and decrease
Of $4,000 in surplus reserves.

in loans and discounts and decrease
Of $4,000 in surplus reserves.
Gold Currents. .- Unusually heavy
Withdrawals Of gold were made from
the Sub-Treasury yesterday. Local
bankers arranged for the export Of 49,
1896 TO Spain, while s1,729,45O was
withdrawn with shipment to an un-
known destination.
There was transferred by telegraph
TO San Francisco $2,13S,640 for the ac-
count Of japanese bankers VINO are
shipping that amount OF gold 10 Japan
London Money Market.-London, July
l6.-Money was in increased supply
to-day through dividend disbursements.
Discount rates were quiet. Money
ruled at 3la TO per cent. Discount
rates: short bills. AZ. per cent; three
month bills. 1916 per cent; gold pre-
miums at Lisbon, s..
New-York tribune., 1917-07-17

The above rates express the cost Of
foreign money in terms of the Ameri-
ran dollar. You buy an English pound
sterling at. say. S4.755s. The intrinsic
parity is S4.965s per pound. Thus, you
say either that pounds are at dis
count or that dollars are at a 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 to
settle accounts in England.
New-York tribune., 1917-07-17
Monday, July 16, 1917

It is not difficult to find an expla-
nation for the sharp break in the
prices of industrial stocks. To build
up stronger reserves, the banks
called in millions of dollars in de-
mand loans, and the rate rose to
as high as 10 per cent. A 10 per
cent rate for call money makes the
carrying of stocks on margin
pretty expensive proposition, and
not only discourages buying, but en-
courages selling of stocks held for
long account and short selling for a
fall. When there is a scarcity of
money, even at high rates, selling is
not only encouraged, but in numer-
Gus instances the liquidation of long
accounts is forced. That is what
happened this time. Everything
considered, it is not so surprising
that the market suffered a reaction
as that it held up as well as it did.
New-York tribune., 1917-07-17
Pugh Creditors Agree

Chicago, July 16.-It was announced
to-day that creditors of the Pugh
Stores Company have reached an agree
ment. and that receivership will not
be requested. A petition for a re-
ceiver was filed last week, but il con-
tained a technical error and was with
drawn.
New-York tribune., 1917-07-17
Twichell Heads Chemical Bank

Herbert X. Twichell, vice-president
Of the Chemical National Bank, 270
broadway, was elected president of
that institution yesterday to succeed
the late Joseph F. B. Martindale. Pres
idcnt Twichcll started with the bank
as a clerk.
New-York tribune., 1917-07-17

Speculation recently has been con-
fined for the most part to the indus
trial and miscellaneous stocks, such
comparatively small business as has
been carried on in the railroad group
being largely of an investment char
acter. Moreover, the banks favor
loans secured by railroad collateral
as against those secured by a
mixture of industrial and railroad
stocks, or those secured wholly by
industrial collateral, and, when the
pinch came, relatively few loans
Of the kind first named were called.
Therefore, the railroad section of the
stock list was but little affected by
the money market furry; indeed,
prices were not only well main
tained, but in numerous instances
there were gains.
New-York tribune., 1917-07-17

There are many factors making
for higher money, and particularly
for higher money for Stock Ex-
change uses. In addition to the
enormous absorption Of funds by the
government, which is the controlling
influence, the seasonal demands for
agricultural purposes are beginning
to make themselves felt. On top of
this is the fact that great guam
titles Of goods are tied up by the
transportation shortage, to which
must be added, temporarily at least,
further important quantities tied up
by the export embargo. To finance
these goods pending delivery re-
quires a vast amount Of credit, and
much Of the burden falls on the In,
stitutions In central reserve cities.
New-York tribune., 1917-07-17

Gus, to .,o,kDora.r. Of r.ssrs. July D1 d. = ..
s"st srsr,ery % dividend OF p.r cent 81 ..,acsshs'
mon stock payable August 10 " -
OF record August I. Quarterly G a
Of A%s1'esn 81 so ,hsrs srs' on S' the pr.tsr.s T
al shls SS October i to stoekh0lds" : :.
September Is. RI
New-York tribune., 1917-07-17

Customs in banking, as in other
fields, change slowly. The remark
may be trite, but the fact is i'm,
portant, because it accounts in no
small degree for the credit pinch.
The Federal Reserve system affords,
through the rediscount privilege, a
vast reservoir Of credit. And yet,
apparently for no better reason than
that it used TO be questionable for
a bank to borrow, the privilege is
availed Of to only a very limited ex,
tent. When the system was put into
operation 1t was said by some en-
thusiasts that the money problem
had been solved forever. That was
going pretty far, but there was more
than a little TO back. up the belief.
At any rate, there is no good rea-
son why the banks should fail TO
take advantage of the benefits the
system confers upon them TO pre-
Vent, as far as possible, the unset
tlement which always attends money
strlngencies. Indeed, as quasi-pub-
lie institutions, it is their duty to do
so. The system was designed to in
sure, among other things, an ade-
quate supply Of credit for all legiti-
mate business, and to the extent that
the banks fail 10 utilize the redis-
count privilege to that end, when
such action is required, they are GER
tainly open TO criticism. Fortu-
nately, the more progressive institu-
tons haJ not been slow TO do 30,
New-York tribune., 1917-07-17
News Digest
Foreign

London Market Firm.-London. July
l6.-The stock market started the week
with good undertone. Most of the
business was in the specialties. while
Russian issues were favored by the
war news. Brazilian bonds were one
TO two points higher on the resumption
OF cash payments. The accumulatioa
OF weekend orders was small, but gilt
edged securities and oil, industrial and
rubber shares were well maintained.
Americans were higher in sympathy
with New York, but business was
meagre.
Paris Bourse.-Paris, July l6.-Trad-
ing was quiet on the Bourse to-day.
Three per cent rentes, so francs so
centimes for cash; exchange on Lon
don, q francs IS centimes; five per
cent loan. SO francs so centmes.
New-York tribune., 1917-07-17

One reason why it was necessary
to call in loans is to be found in the
dynamic quality of government de-
posits, the proceeds of Liberty bonds.
Under a special ruling, reserve re-
qUirements were waived on such de-
posits. But, in spite of the obvious
fact that the government was likely
to withdraw funds in enormous
quantities at any time, some insti-
tutions loaned nearly all these
funds, which caused extension of
stock market and other operations
On a rather unstable basis. Then,
when the government all at once
called on them for the money, they
perforce had to contract loans on a
large scale. 1t is to be hoped that
those institutions which followed
such a course will profit by the ex-
pericnce they have just undergone
fortunately, without serious results
for any one concerned.
New-York tribune., 1917-07-17

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., 1917-07-17

1t is not at all impossible that
Stock Exchange money will gradu-
ally work to a permanently higher
level. The reason is that prime
commercial paper is, perhaps, the
best investment a bank can make,
and it now has, as far as a Federal
Reserve member is concerned, the
much desired quality of liquidity. A
bank can convert commercial paper
quite as quickly as it can a demand
loan, simply by taking it to the Fed
eral Reserve bank in its district and
rediscounting it. Therefore, the
tendency of call money rates should
be to seek the level of commercial
paper rates. Normally, they are
substantially lower.
New-York tribune., 1917-07-17
Money and Credit

The sharp reduction In bank reserves
brought a quick response in the local
money market yesterday when call
loans at the Stock Exchange jumped
to 10 PEI cent and ruled at per cent
This compared with a ruling rate Of
Az per cent on Friday.
Time money was considerably frmer,
with only moderate amount Of bust
ness moving. Bankers restricted their
offerings. Loans secured by industrial
collateral were quoted at per cent
for ninety days four, five and six
months, while loans on a mixture of
railway and industrial collateral were
Az to AZ per cent.
Ruling rates of money yesterday,
compared with a year ago, were as fol-
lows:
New-York tribune., 1917-07-17

Commercial Paper-Trading in COM
mercial paper was less active yesterday.
Hositancy was displayed by banking
institutions in making new commit
nents owing to the general tightening
Of the money situation. Rates were
unchanged at Az to 8 per cent
Official rates OF discount of each of
the twelve Federal districts are as fol-
lows:
New-York tribune., 1917-07-17

Sub-Treasury.-New York banks lost
TO the Sub-Treasury s29,093.
Silvcr.-Bars in London. AID, up
I'd; New York. 81. cents, up IL
cents; Mexican dollars, 637s cents, up
u cent.
Boston Bank Statement.-The weekly
report disclosed Z decrease Of {66s, 900