davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1917-12-21

Germany's achievements in the
world of finance since the war began
have not, apparently, come up TO eX-
pectations. DR.. Bernhard Dernburg
leader of the German propaganda
forces in the United States in the
early months Of the war, spoke
frankly of this recently in an ad-
dress delivered in Karlsruhe. parts
of which were reproduced in the
"Berliner Tageblatt" and have lately
been received here. THE financing
of the war" he said, has really not
been effective. We have voted be-
tween S125.0O0.O00 and $1S0,000,000
of new taxes, but at the same time
We have lost customs duties to the
amount Of at least SGO,O0O,O00. We
are able TO balance the budget only
by leaving the whole of our military
expenditures out Of the ordinary es-
Inmates and entering it as eXtraordi-
nary war expenditure. We have new
debt to the amount of $25,000,000.-
GOO. and for the service Of this debt
we need from S1,750,000,000 to 81
600. 100000. But in this direction
practically nothing has been done.
The result is that the credit Of the
German Empire has been terribly
reduced abroad" DR.. Dernburg Is
also quoted as saying that people in
neutral countries are able to buy
German War Loan bonds at one-half
thier face value and so, if German
credit were sound. TO make a profit
Of 100 per cent, but he emphasizes
the fact that they not DO so. He
complained Of the cct of the fre-
oucnt Pan-German announcements
that if Germany does not get a war
indemnity she is bankrupt.
New-York tribune., 1917-12-21
Remedies Plants
To Execute Large
Order for Shells
American Brake Shoe and
Foundry Co. Secures Con-
tract From Government

Contracts have been placed with the
American Brake Shoe & Foundry Com
pany by the United States govern
ment for machining 100000 howitzer
shells of 1J5 millimetre calibre, &C
cording to the annual report OF the
corporation. The government is to
furnish the forgings and the company
is now rcmodeling its shell plant to
enable it 20 execute the order.
Net income Of the company in the
year ended September 80 last amounted
20 S3,232,242, an increase Of $l,6O4935
over the year before. The foundry
business Of the corporation was greater
than ever before, both in tonnage and
the value of shipments. The actual
profits were. however, not as large "a
those Of the previous year, owing TO
the great advance in the cost Of raw
material and labor. Profits OF the
company from the machining of shells
for the British government helped to
swell the total income. In all, the
company delivered $4,000 shells to
Great Britain. none of which failed TO
meet the tests in England.
William G.. Pearce. president o. the
company, in his remarks TO the stoct-
holders, tells how the company took
up war contract work for the United
States Government a. follows:
EARLY in February, 1917. we offered
the output Of our shell plants at Erie.
Penn, TO the United States government
on such terms as the government itself
ON examination should consider proper.
Thereafter negotiations were carried on
with thc representatives of the govern
ment and on August -, 1917. contract
WAS made for 5000 l55-millimetre how
tiers. In accordance with the terms of
the contract a plant was 20 be erected
by us AZ Erie, Penn. adjoining our
shell plants. The building is at this
date practically completed and much OF
the machinery is already in place. The
government is 70 furnish the principal
forgiugs. and the company Is To supply
the remaining material and machine
and assemble the howitzers.
ION October 80. 1917, an order was
given the company by the United
States government FOR machining $780,
600 l5J-millimetrc howitzcr shells. The
government is to furnish the forgings,
copper bands and base covers. The
company is now remodclling its shell
plant to enable il to execute this order.
"The contracts referred 10 are in
the form known as cost plus fixed
profit. Al their termination the gov
ernment has the right TO remove at it's
expense all increased facilities which
the government has paid for in con-
nectiOn with the towitzer contract, and
such additional equipment as it has
paid for IN connection with the shell
contract"
New-York tribune., 1917-12-21

The following statement was gwen
out AZ the Federal Reserve Bank Oh
New York last night:
"The attention OF the officers ol the
Federal Reserve Bank Of New York has
been called 70 a statement m I he Ne"
York Evening Post of December D.
1917. purpor'ing 70 be an extract from
a letter Of a soldier with the American
forces in France to the effect that the
soldiers found they we're being charged
on their Liberty Loan subscriptions
S1.7J per bond brokerage fee, 81 on the
first coupon and IS cents for the in
:crest on $50. whereby each $50 bond
was 70 cost them S53.G3.
Enquiries have been made at the
American headquarters and OF the
principal American banks having OFF,
ces in Paris From the replies received
there appears TO be no basis whatever
for the statement as published in The
New York Evening Post
$50 far a the officers Of this bank
are aware. there was no brokerage or
other fees charged in connection with
any Liberty Loan subscriptions. wheth-
cr made by soldiers or civilians, either
in this country or overseas
New-York tribune., 1917-12-21
Large Block of
HolIand-America
Line Stock Sold
International Mercantile
Marine Disposes of 1000
Shares for So, 100000

The international Mercantile Marine
Company announced yesterday that It
had sold 70 interests connected win
the Holland-America Line more tnan
half its holdings OF that company's
stock. The transaction Included the
sale OF more than 1000 shares Tor
s3.50O,0 900, or about $500 share. TIE
profit to the Mercantile Marine Com
paHy was not dlyulged.
Before the outbreas Of the var TINS
company. with the North German Lloyd
Steamship Company and the Hamburg
American Line. owned 5000 shares each
Of the Holland-America Lines capital.
Since the war began the German COM
panies are reported 20 have disposed OF
all their holdings TO Dutch interests,
so that the only stock now held out
side of Holland is that still owned by
the international Mercantile Marine
Company.
p. 4. ). Franklin. president Of the
Marine company, said the board OF d.
rectors considered this an advantageous
time for the disposal Of the stock. Inc
total outstanding stock Of the Holland
America line IS 24.000 share. The
company paid dividend last year al
the rate Of 30 per cent.
Directors Of the International her-
camille Marine Company at their meet
ing yesterday declared the regular
semi-annual dividend OF per cent on
the preferred stock payable February I
to stockholders OF record on January
Is. A few weeks ago the company de-
clared "A special cash dividend Of $40
share on account of the back preferred
dividends, which now amount to y per
cent.
There was a sharp advance in Marine
shares on the late trading when it be-
came noised around the Street that the
company intended 70 dispose Of large
block of its Hollsnd-America stock.
The preferred stock. which sold at 74S4
carly in the session. rose rapidly near
the close and insl transactions were
at 1873, a net gain for the dag Of 3 Z
points. The common stock closed | =
points higher at 1915.
New-York tribune., 1917-12-21
Rate Increases Suspended

WASHINGTON. Dec. 20 The Inter
state Commerce Commission to-day or
dcred further suspension OF proposed
freight rate increases in the so-called
eastern commodity case. involving
higher rates on articles not increased
by the - per cent decision last June.
until next June 80. The case has been
consolidated with the pending 10 per
cent. case and previously mad been
suspended until December 80.
New-York tribune., 1917-12-21
Money and Credit

A somewhat broader demand was re-
ported Tor money IN the local market
yesterday Rates, however, remained
unchanged and the banks continued 90
-...~,,, .,... oa,r;,,,, of rvo5 t,+,
'''''''' '"''' 0''''''e'
funds, which are ruling o. ''2 10 o
NOR cent Cor practically all maturitiee.
'A lHe HIoeH hNchahSe 'Neic was
plentiful supply of call money at 6 per
New-York tribune., 1917-12-21

Loutsvilie & Nashville Regular semi-an-
nnal dividend of 3i1 per cent. payable FEB
ruary II 10 stockholders Of record January IL
Seaboard National Bank. Regular guar
terly dividend o. per cent. payable January
10 stockholders OF record December -.
Columbia Trust.-Quarterly dividend OF "a
per cent. payable December II ~ stoekhold'
ers Of record December %.
Virginia Carolina Chemical Regular
quarterly dividends Oh three-Quarters OF l per
cent On the common and per cent on the
preferred stocks. Common dividend - psN@-
be February 1 10 stockkO.ders oi record AN
uary 10. and the preferred j. payable Jan
uary is to stockholders OF record January 5.
New Idriz Quieksilysr.-- Regular quarterly
dividend OF so cents per share. payable De-
eember 20 TO stockholders Of record Dcsen-
Der q.
New-York tribune., 1917-12-21
The Dollar in Foreign Exchange

Exchange rates moved narrowly yes
torday, the principal feature being =
slight advance in francs. An easier
tone developed in Italian lire at S.5G.
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 Tor either marks or kroncn arc
no longer available.
Quoted dollars To the pound.)
New-York tribune., 1917-12-21

Much confusion was caused IN the
financial district yesterday by the
vague, tmintelHgible details sent out
from Washington ON the Treasury
ruling with regard to offsets which
dealers in securities are to be al
lowed i'm compiling their schedules
for income and excess profits
taxes. At first it was reported
that the new ruling would permit
deductions Of losses ON security hold
ines to be made without the securI-
ties being actually sold. Later it de
veloped that the ruling applied only
TO dealers and apparently excluded
investors, the inference being that
the ordinary investor would still be
under the necessity of actually sell
ing his holdings in order TO obtain
the desired offset. Additional details
will have to be made available be-
fore any definite idea can be had
rs to lust what the ruling of the
Treasury Department on the quos-
tion means.
New-York tribune., 1917-12-21
Dividend Changes

Trumbull Steel. Directors nave de-
clarcd an extra dividend Of 4 per
cent on the common stock, also the
regular quarterly dividends OF ~ per
cent on the common and IA per cent
on the preferred stocks. ell payable
January / 20 stockholders OF record
December 20.
New-York tribune., 1917-12-21
uississippi Railroad Commission IN.

iOined. JACkSON, MISS, Dec. u
Federal Judge Wles to-day issued an
Injunction on application of the Hi
nois Central and Ya2oo & Mississippi
Valley railroads restraining the Mis-
sissippi Railroad Commission from en-
forcing It's order abolishing the traihc
Of > cents per 100 pounds on inter
state lumber shipments for milling in
transit.
New-York tribune., 1917-12-21

The above rates express The cost O,
foreign money in terms of the Ameri-
can dollar You buy an English pound
sterling 1t. say, SL7Jis. The intrinsic
parity is S3s6ss per pound. Thus, you
say either that pounds are at q discount
or that dollars are 1t a premium. which
is owing 20 the fact that in England
the demand for dollars with which TO
settle accounts in this country IS
greater than the demand in this coun-
.ry for pounds with which 10 settle
accounts in England.
New-York tribune., 1917-12-21
Other Cities
Chicago Brokers Plan "Cu

Chicago Brokers Plan Curb War
ket.-CHICAGO, Dec. 2O.-Chicago Is
expected 10 have regular curb mar
ket for stocks by the first of the New
Year. when the new Illinois blue sky
law goes into effect.
Firms handling unlisted stocks which
are hit By the new law met to-day
and appointed +. McNesl 20 confer
with the Secretary of State at Spring
field on the subject.
New-York tribune., 1917-12-21
Relevant Comment
Sinclair Oil Notes

Announcement was made YESTERDAY
that about s2,500.000 of the ST.
1000 Sinclair Oil and Refining
Company threeyear first lien sink
ing fund notes remain unsold, The
syndicate will be terminated to-day.
The issue was brought out last July and
the notes were offered 10 stockholders
of the company for subscription at 100
and interest The underwriting syndi-
cate included Kissel, Kinnicutt & Co.,
New-York tribune., 1917-12-21
Pittsburgh Bond Firm Patriotic.

PITTSBURGH, Penn, Dec. 20.-An-
nouncement was made at the Stock
Exchange to-day that the local Offices
Of Holmes. Buckley & Wardrop, bond
firm. would be closed December 81 for
the period Of the war. ]. r. Wardrop
has been In the military service for
Two other Of. err members be- Wit 90 on active
duty in the army soon after the first
Of the year.
New-York tribune., 1917-12-21
New York
stock E1change Membership Changes.

The New York Stock Exchange mem
bership OF II. b. Britton has been
bought b. G.. W. Carpenter for s47, 900.
The membership of the late Prescott
Slade has been purchased by II. d.
Haight for $47,500. and that Of ". l..
johnson by J. r. Schmelter for St5'Opo.
The last previous sale was at S5O,oVV:
". II. Drayton, 3D.. has been elected
member of the Exchange.
The membership of Clinton u. Hall
has been posted for transfer to Chester
Dale, q partnership transaction.
&. e. Thomson has been authorized
TO act as substitute for II. G.. BartoI,
of Adams. Davis & Bartol, and II. u,
Bulkley has been authorized for j. X.
Holmes, of Holmes, Bulkley & Ward
rop.
New-York tribune., 1917-12-21
Bonuses

Directors Of the Empire Trust Com
pany yesterday voted TO appropriate
under the company's protit-sharing plan
adopted several years ago a sum equal
10 10 per cent Of the employees sal
aries. This is in addition 10 the spe-
oial bonus which was recently paid
TO help meet increased living expenses.
Employees OF the Fidelity Trust Com
psny are 10 receive extra compensa-
tion. ranging from TO 10 per cent, sc-
cording to term Of service.
New-York tribune., 1917-12-21

Stocks reacted yesterday after
early weakness. Substantial gains
were recorded in the majority OF
standard shares at the close and sem
Cmcut in Wall Street was more
cheerful However. no one seemed TO
know why prices should recover any
more than they had been able TO
account for the pronounced weak
ness Of the preceding day. The COM
mon explanation had TO do with the
technical position Of the market, eX-
pert Observers pointing out that a
natural reaction was due after the
extensive fall suffered by security
prices I'm general. The days news
contained little that could be inter
preted fayorably, although in some
quarters much importance was
placed on the reports from abroad
that Germany was about to make
new peace "feclcr." In the market
itself one Of the striking features
was the early break in Steel common
to a new low record Of 79ia. followed
by a rapid recovery above &. Steel's
Quick comeback was helpful in rally
ing the entire list. Numerous of the
railroad issues dipped to low figures
i'm the early trading, but rallied
sharply before the close.
New-York tribune., 1917-12-21

Ioodon Money Market LONDON.
Dee 2O-Monev was steady at 3a4 per
cent. Discount rates: Short bills, as
pcr cent: three months bills. 4&4 per
cent. Gold premium at Lisbon, llo.
The Bank Of England rate remained
unchanged at , per cent.
New-York tribune., 1917-12-21

National Bank of Commerce. Al
extra dividend Of . per cent has been
declared by this institution and a
quarterly dividend Of 22 per cent,
payable January , 10 stockholders OF
record December 81.
New-York tribune., 1917-12-21
News Digest
Foreign

Paris Bourse.-PARlS. Dec. 10
Trading was quiet on the Bourse to-
day. Three per cent rentes, 5S francs
80 centimes for cash. Exchange on Lon
don. 81 francs 22 centimes. Five per
cent loan, SO francs Is centimes.
New-York tribune., 1917-12-21
Quoted cents to the unit. }

value Of foreign money in dollars and
cents. together with the intrinsic gold
parity, as calculated by the United
States Mint:
New-York tribune., 1917-12-21

Fulton Trust. In addition 20 de-
claring a semi-annual dividend OF >
per cent, an extra dividend Of per
cent has been declared, payable Janu-
airy 20 stockholders Of record De-
ccmber -.
New-York tribune., 1917-12-21

Commercial Paper Rates were firm
at 81. to 50 per cent, with light de-
mand.
Official rates OF discount for each Of
tho twelve Federal districts arc as fol-
lows:
New-York tribune., 1917-12-21
London Takes Long Christmas HOli

dsy.-LONDON, Dec. 2O.-The Stock
Exchange here will be closed Decem-
Der %, "a. 25 and 26 and January l.
New-York tribune., 1917-12-21

Brooklyn Trust.-This institution
has declared the regular quarterly
dividend OF per cent and 8 per cent
extra, payable January to stockhold-
ers Of record December p.
New-York tribune., 1917-12-21
Regular Dividends

idcnd of per cent payable 20 stock.
holders OF record December p.
New-York tribune., 1917-12-21

Bank Appoint \. Cris-
void yesterday was appointed manage 7
Of the Madison Avenue branch ot1ce OF
the Guaranty Trust Company OF New
Norl.
New-York tribune., 1917-12-21

Admitted to Partnership Federico
Lage, a member Of the firm OF Lage
Brothers, of Rio dc Janlero, has been
admitted 10 partnership IN the nrm o.
William Morris imbrie & Co.
New-York tribune., 1917-12-21

NTNII IUTIIIIIWTI dN =
The break i1 Steel common on 'he
Carl trad.n. Yesterday carried It down
20 5eu. the lowest price since l9Io'
The s,oct la. row lost all Of the rise
made daring tie bull campaign begin
ming i'm Narch. 1916. hany traders
iootod FOR a heavy outpouring OF long
s,ock vbc, the uricc dipped below 80
for /. VAS reported that there were
Tsnv "stop" orders in the market al
tEat 'levcl. Ru, this did not prove to be
.ba case. and the failure Of any pig
toldinq. 10 come into the market
around the low price gave shorts their
cue to cover. The stock closed at s235
up Is points.
New-York tribune., 1917-12-21

Bank of France.-The weekly state
ment of the banks condition, with
changes, in francs, from week ago.
follows:
New-York tribune., 1917-12-21
Bank of England.-The weekly

Bank of England.-The weekly state
ment of the Bank OF England showed
an increase in gold holdings Of G6O,6'5.
The proportion Of reserves to Liabilities
now stands at 1896 per cent, agains;
1880 a week ago. The statement with
the changes from week ago, follows:
New-York tribune., 1917-12-21

Pittsburgh Oil x Gas.-An extra
dividend Of ! per cent has been de-
clared by this company, payable Janu-
airy Is TO stockholders of record De-
cember 81.
New-York tribune., 1917-12-21

J. & ~ Seiigma7 & Co. White Meid '.
& Co.. Montgomery, Clothier G ray
lor and Spencer, Trask & CO.
New-York tribune., 1917-12-21

Fidelity Trust.-ln addition 10 a reg
ular quarterly dividend of per cen:
this company has declared an extra div
New-York tribune., 1917-12-21

sub Treasury. - New York banks
lost TO the Sub-Trcasury $4,000.
New-York tribune., 1917-12-21

Siyer.-Bars in London. 43itd, an
advance Of I'D; New York. S6@sc, up
re; Mexican dollars, Csc, an increase
Of 1c.
New-York tribune., 1917-12-21
Days

Bank Clearings.-Thc days clearlngs
at New York and other cities:
New-York tribune., 1917-12-21

Ruling rates for money yesterday,
compared with year ago, were as fol-
lows:
yesterday. Year ago.
r.u ,-cr., q ..
Forest City press. (Forest City, Potter County, D.T. [S.D.]) 1883-19??, 1917-06-01

TAKEN UP-about April 2sth,
brown horse weight about 1900 lbs.
I years old, wire cut on front foot.
star in face, no brand. Owner
please call and pay charges.
Ed. Orsborn
miles south of Forest City SD.
Will shepardson is using
his auto again on the mail
route to Gettysburg.
A large crowd attended
the Memorial Day exercises
at Gettysburg, autos being
more numerous than ever.
Mr.. R. B. Ellis is deputy as
SCISSOR for Forest Gitytwp.
Forest City press. (Forest City, Potter County, D.T. [S.D.]) 1883-19??, 1917-06-01
GIVE US COAL--oR GIVE GIVE US
GOvERNM'T.OWNED RAILROADS

South Dakota and its sister state
of North Dakota are richer in coal
deposits than and other similar
area in the world.
This is a statement which may
surprise, Tor this territory has not
been counted as a coal state in COM
parison with Pennsylvania, West
Virginia, Indiana and Illinois, but
the above assertion is made upon
the strength of a statement of q
government engineer.
Charles A. Johnson, president
of the johnson Fuel company,
which is enlarging it's briquetting
plant at Scranton, N. d., was in
the city the other day and told of
this new phase Of our natural pro-
ducts.
sit Was a surprise to me-" said
Mr.. johnson. 1.-The government
engineer recently made a statement
that was news, even to me. He
declared that western South Da-
kota and North Dakota contain
more coal than any area of the
same size in the world.
"This being the case. isn't it
about time that we began to get
the benefit of it?'-Aberdeen News.
Forest City press. (Forest City, Potter County, D.T. [S.D.]) 1883-19??, 1917-06-01
This Safely Removes Worms.

Worms are a common disease of
children and every mother should
know their symptoms. Sallow COM
plexion, with dark circles under
eyes, irregular bowel movements
with stomach hard or swollen,
grinding teeth OR itching may mean
that Kickapoo WormKiller is need
ed at once. 1t is a mildly laxative
remedy in candy tablet form that
children like. Kills and removes
the worms and lets the child grow
strong and healthy. At druggists,
25c.
Forest City press. (Forest City, Potter County, D.T. [S.D.]) 1883-19??, 1917-06-01
BY the Governor.
FRANK NJ. ROOD.
Secretary of State.
The Terms of the Liberty Loan

The act authorizing the Liberty
Loan Bonds of 1917 was passed
April "a, 1917. 1t provides for
the issuance of $1,000, 000, 900 of
81 per cent bonds, the interest
payable semiannually on Deem
Der Is and June Is of each year.
The principal is repayable on or
after the 18th day of June 1882,
at the option of the Government,
and if this option is not exercised
the bonds will run full 80 years
and will become due June Is 1917.
The bonds are exempt both as to
principal and interest from all tax
alton, national, state, county or
municipal, except the Inheritance
tax, which is really not a tax on
the property, but on the transfer
Of property,by will or Inheritance.
The bonds are to be sold at par;
that is, dollar for dollar, no pre-.
MUM and no discount. They are
TO be- sold by the Treasurer Of the
United States and by all Federal
Reserve banks. But all banks,
National and State, post Offices and
express companies have been des-
ignated as agents Of the Govern
ment to receive applications for
these bonds tits almost as easy
TO purchase one Of these as it is to
get . p~ost.of6ce money order.
It 10 not necessary 70 pay cash,
.in full for = bond. One can pay
down 2. per cent Of: the purchase
price on application-thst is 81 for
i $50 bond; 81 for as&1O0 bond,
|etc.-16s per centsonJuly26, 1917;
E20 per cent July SO. 1911; so per
cent august lty 1917; md the bal
Iance, 80 pers cent, Aueust:3o, 1917.