davidaulloa/AmericanStories huggingface dataset:
The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1917-02-27
Cincinnati

CINCINNATI, O., Feb. 27.-Cattle-
Receipts. slow; steers. 5000; heifers
SSM9.
Calves - Marke. weak.
Sheep - Market, steady.
Lambs - Market steady.
The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1917-02-27

Above 10 a photograph Of Arthur
Lee, the new British food dictator.
Mr.. Lee 10 confronted with the stu
pendous problem Of placing the food
supplies Of the English people on an
adequate wartime basis.
The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1917-02-27

PALLADIUM WANT ADS PAY
The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1917-02-27

Wagon Market
Timothy hay-$14.50.
Mixed-$13@14.
Glover hay-$12@14.
Alfalfa-$16.0o.
Straw-$9.00.
The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1917-02-27
NO GRAIN QUOTATIONS

(By Associated PTess)
CHICAGO. Feb. 27.-No grain mar.
kets today because Of city primaries.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-01-13
Dividends

American Navigat;on.-Qua oiytsn;
Of 3 per cent, payable January ~ 10 stock 9.
record January s.
Nash Motor.-Regular quarterly divided
of ia per cent on the preferred stock, pa
able February ! 10 stock OF record Janlz1
20.
American Grsphophone.--Reg ousffs'.
~ dividend Of Ia per cent on the prefers
stock, payable February 10 20 STOCK OF reeo'd
February /.
General Ordnsnee.-Dividend Of IS shaH
PAYABLE January 20 20 stock Of record Jsas'
AIRY 10.
Ludlow Manufacturing Associates.-Res1'
lar quarterly dividend Of $3.50 share and 1
special dividend Of 81. payable February 2
stock Of record January j..
Chief Consolidated Mining. Regular Guar
terly dividend OF per cent, payable feorf
AIRY > to stock OF record January 10.
Dominion Coal Regular seni-snnual d.
dend Of 81 per cent on the preferred .'eA
payable February / TO stock Of record li's
AIRY 10.
Edison Electric Illuminating CompWt
Boston. Regular quarterly dividend 93r
cent. payable February 1 90 stock o. Ff'n
January %
Thomas g. Plsnt.-Regular quarterly sIf
dend Of Is. per cent on the prefeIred s"a
payable January 81 TO holders OF REQ
January II.
Packard Motor Car.--Qusrterly dividend
per cent on the common stock, psy..f
January 81 90 holders Of record January D.
Iron Blossom Consolidated Mining Qua
terly dividend Of 10 cents share, paysei
January % 70 holders Of record January %
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-01-13
Norway's Shipping Losses

During the quarter ended November
80, 1916, the Norwegian mercantile
marine lost ninety-three steam vessels
Of 1925 gross tons, With a cost to
the Norwegian War Insurance Club OF
s26,O0o0OO. The total war losses up
to November 80 have been 1S2 steamers
Of PSI ,62S gross tons, and sixty sailing
vessels Of 43,7s7 net tons, in all 242
vessels and 325,415 tons. Consul Gen
eral E. II. Dennison, at Christianis,
reports that the insurance value Of
these vessels was S39,045,000, but the
actual market value was much higher,
as II was possible to insure them for
only part of their value. If insured
for full value there would have been
little profit. Ships that before the
war could be purchased for about S25
ton now cost $3.50 ton or more. As
a result of the losses sustained by the
Norwegian shipping companies, a
movement has been started TO obtain
suspension of the extra shipping taxes,
on the plea, presumably, that the in
dustry cannot stand them in view Of
tho continuing and widening losses.
The maximum amount at which each
single ship may be insured is fixed by
the directors of the Var Insurance
Club, but on account of the constant
increase in the value of ships the d-
Iectors have by degrees had TO permit
higher insurance values than previous
ly. However, a certain limit is always
insisted upon, and, therefore, il often
becomes necessary 10 take out extra
policies in some private insurance COM
psny.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-01-13
Elections

Charles II. Hampton, formerly as.
sistant cashier, and Joseph Byrne, for
merly vice-presdent and cashier of the
Merchants National Bank, were elected
vice-presidents of the Hanover Ma
tlonal Bank at meeting of directors
yesterday.
j. Lynch Pendergast. president of the
United States Safe Deposit Company,
has been elected president of the New
York Safe Deposit Association, Mem
oers Of the association include all the
sale deposit companies in the country.
{. t. Crowley has been elected a d.
rector of the Sinclair Oil and Refining
corporation, TO succeed L. II. Houston.
Mr.. Crowley was formerly manager OF
the Gulf Pipe Line Company.
A. l.. Mathews has been elected a
Yice-president of the J. G.. White Man
agement Corporation TO take charge
OF new department, which has been
organized for the management of sugar
properties.
A. ". Frank has resigned as secre-
tary aud treasurer OF the Sherwin-
Williams Company, OF Cleveland, to
accept the Office Of treasurer OF CASTOR.
Williams & Wigmore. 10 will take
the place of W. II. Williams, who has
resigned as treasurer TO become one OF
the active vice-presidents Of tho cor
poration.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-01-13
ST, O0O,O 900 CAPITAL FOR
SCANDINAVIAN TRUST co
Notice of Intention to Organize
Filed with State

Albany, N. Y, Jan. l2.-Notice OF IN
tention 10 organize the scandinavian
Trust Company of New York City has
been filed with State Superintendent OF
Banks Eugene Lamb Richards. Tho
company proposes to have a capital OF
81 ,oO00 900 and a surplus of sl,0OO,OoO'
The special purpose of the organization
of this trust company is to facilitate
financial transactions in aid Of trade
and commerce between the United
States and Scandinavian countries, es-
pecially Norway. Leading foreign bank
ers who, it is announced, are in sym
patty with the Norwegian government
are interested in the proposed new
trust company. The incorporators IN
clude John Z. Berwind, Samuel l.. Full
Ter, Edwin o. Halter and E. A. Cappelan
Smith. OF New York City; William Il.
Coe, Oyster Bay; Edward +. Geer'
Westhampton Beach. Long Island ana
Frederick W. Hvoslef, of Brooklyn.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-01-13
ROCK ISLAND SUIT
FILED IN CHICAGO

Suit for 1913 900 900 against the Chi
caro- Rock Island G. Pacific Railway
Company and its receivers was hieo
in the Federal Court at Chicago yes
terday on behalf of the Bankers Trust
Company of New York. Inc sun
grows out Of the failure Of the rail-
road to pay interest on its debentures'
Members Of the Rock Island reor-
ganization committee explained tna'
the suit filed in Chicago yesterday was
a step necessary to complete the re-
organization Of the property and take
it out Of receivership. The amount
involved in the suit represents inc
face value of the debentures, SZo'-
900 900. and the accrued interest
and damages, amounting 10 s3,Ooo'OOV'
When the court has formally rec
ognized the validity Of the suit there
Will follow a sale of the property 70
the holders of the debentures under
a deficiency judgment. Under the re-
adjustment plan the debentures are
to be replaced by preferred STOCK
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-01-13
New York

Momentum of Business. u. puh
E. Co. in their weekly trade summary
say that with the end Of the holidays
and annual settlements business mas
regained momentum in many branches
and sections, though wholesome CON
servatism and caution are everywhere
manifest. Each week the question o.
future economic readjustments enters
more largely into calculations, ana
doubts as to the changes that must
ultimately be effected cause hesltancy
both in legitimate trade and industry
and in speculation. While the outlook
is obscure, both buyers and sellers
alike recognize that transition to a
more natural range OF commodity
prices is inevitable, and among inter
csts whose requirements are covered
far ahead there is disposition 20 defer
purchases in anticipation of conces-
sions. Yet after a long period Of eN-
traordnary buying some statement OF
demand is to be expected. and with the
works booked to capacity for months to
come there is little, il any, yielding
among producers, VINO still are more
concerned with the problem Of making
deliveries on previous contracts than
in securing additional orders.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-01-13
CANADIAN PRODUCTION
OF IRON AND STEEL

The production Of pig iron in Canada
in 1916 is estimated at % per cent
larger than in 1915. There was also a
gain of 40 per cent in the output of
steel ingots and castings in the same
period, according TO a bulletin issued
By the Department Of Mines, Ottawa.
The records received from the pro-
ducers show the production Of pig iron
and OF steel ingots and castings during
the first eleven months of the year,
which, together with estimates for De-
cember, show probable production Of
pig iron in Canada during the calendar
year 1915 of 1,171,727 short tons and a
probable production of steel ingots and
direct steel castings OF 1,454,l24 short
tons, of which 1,42S,4S5 tons we're steel
ingots and S0,639 tons were direct cast
ings. The production of pig iron in
1915 was 913,776 short tons and of steel
ingots and castings 1,O2O,896 short tons.
The 1916 production was greater than
that OF any previous year, the second
largest production of pig iron having
been 1,12s,967 tons in 1913 and of steel
ingots and castings 1,168,993 tons, also
in 1919.
Of the total production Of steel in
COTS and castings in 1916 1890 tons
we're made in elecric furnaces. In
1915 only 81 tons we're reported as hay-
ing been made in electric furnaces.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-01-13
FLOOD OF GOLD
PUZZLES BANKERS
Whether Blessing or
Curse, They Do Not
. Know, Says VS.. Kies
CkacGQo. ydn,LdrN ~.


Distracted nations under the force
Of grinding necessity have literally
flung their boarded gold into our laps.
To-day We hold nearly one-third Of the
worlds entire known supply Of gold.
Novices, as it were, in international
finance, we are actually at a loss
whether to view this food Of gold as a
menace or as a national blessing"
w. S. Kies, vice president of the Ma
tional City Bank, made this statement
to-day in speaking before the annual
meeting of the Association of Ameri-
can Colleges. He also laid special en-
phasis on the urgent need of adequate
training for world service for Amer
icas young men and the adoption Of a
clesn-cut commercial or financial pol
icy if the United States expects to com
bat successfully the problems that will
come when the war ends in Europe.
"The biggest opportunity ever offered
any people for world service" said Mr..
Kies, "has found this nation, because
Of lack of training and experience, IN
ready to assume in a broadly compre-
hensive manner the responsibilities and
obligations which 20 with the oppor-
tuuitV."
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-01-13
War Profits on
Wane in Holland
Living Cost Exceeds Wage IN.
crease - Distrcssful Wint.,
Predicted

War profits made IN various lins a,
business in Holland apparently br.
reached their climax and are now VA.
ing, according to a report received !,
the Department OF Commerce fra,
Frank w. Mahin, Consul at Amsterdam
At the same time the rise Of the Coz,
of living in that country far exceed,
the average increase in wages. Ties,
developments, together with other cor.
ditions, have given rise TO a feeling Q,
depression in Holland this winter
The shortage Of grain, insdequ,.,
supplies of coal, scarcity Of building
materials and OF materials for mschin.
works. shipysrds, etc, and the gr.u
difficulty and even imposslbility IN
some cases Of obtaining more Of sues
supplies, most Of which must be in.
ported and have hitherto come chiefly
from countries now at war, are clsl
as some Of the "other conditions" giy.
ing cause for complaint.
Discussing the war proit', Mn Msh!r
says:
They resulted chiefly from the opporzn.
ity 10 sell at very high prices stocss o
goods In Holland which bad relatively snar
value before the war, and 10 eel az slrosi
any price which might be asked certain
goods imported from the Dutch colonies Or
from neutral countries. Some Dutch he.
tories have also reaped great profit iron
the high prices received for their prodgsb
Now those old stocks are exhausted, In.
ports are practically restricted 10 Holland,
necessities, and many factories suffer fror
inadequate supplies Of raw materials.
But for shipping restrictions ID.
United States might find in Holland
market for an almost limitles' amount
of raw products.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-01-13
LOAN HOLDING
STAGE in CITY
London Bankers and
Brokers Busy with De
tails of Huge Issue
BY FRANCIS W. HIRST


London. Jan. 12.-The Stock EX-
change and other banking com
munities are enormously busy with
the new loan, which will occupy
them for a considerable time.
Liquidation and depression in COM
peting stocks are unavoidable, but
the funding of Treasury bills and
the short term obligations Of the
different nationalities is enthusiastic
cally approved, even by the Unionist
press.
The large addition to "other de-
posts" in yesterdays bank returns
explains the ease-up in the short
loan market. This will grease the
wheels of the new war loan ma
chinery, which had been somewhat
complicated by the conversion OF
rights.
Those who had anticipated a re-
duction in the bank rate have been
disappointed. The Treasury and the
Bank of England probably felt that
a high rate was desirable from the
standpoint of foreign exchange.
The difficulties of the Indian eX-
change are slowly disappearing, and
after a somewhat anxious time
Eastern merchants are feeling more
comfortable.
Sir Edwin Pears, our leading au-
thority on Constantinople, told me
to-day that he was we'll pleased with
the Allied note to President Wilson
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-01-13
BANKERS READY
FOR PERIOD OF
BIG FINANCING
Purchase of $60,OOO,OOO
Rubber Issue Announced
by Kuhn, Loeb & Co.

With the announcement yesterday OF
the purchase of s6o,ooO.OOo United
States Rubber Company o per cent
bond. by Kuhn, Loeb e. Co., the De-
ginning Of an active period Of fnanc-
ing by domestic corporations Is De-
Iieved 10 have started. Other largo
industrial concerns, bankers anticipate
will come into tho market for funds
within the next few weeks. while a
orrher Of the railroads, too. Will un-
doubtedly require large sums Vne
p.,r,v,vsnia already having signined
il, intention to issue a considera'ie
amount OF new securities.
Owing to the abundance Of ioana0ie
funds now available, great deal Oh
financing could be accomplished WIN
out imposing undue strain on the
non.v market. In fact, the large lend
inc institutions, ever since the turn
of the year, when money paid out Tor
dividends and interest began to ma
it's way back on deposit, have been
keeping their funds as liquid as posi-
bile. in order, il is said, to meet the
demands which are expected to mate
rialize in the near future. The return
of funds lost to interior centres also
strengthens their position in this re-
spoct.
The American international Corpora
ton is understood to be associated
with Kuhn, Loeb E. Co. in the present
financing of the United States Rubber
Company, and in the future both insti-
tutions are expected TO take an active
part in the administration of the affairs
Of the rubber concern. Both will here
after be represented on the board of
directors.
, Out Of the proceeds Of the 10000
900 issue, it is expected that s24,697,-
14s will be used to provide for matur-
ing obligations, while the balance will
be devoted to the funding of current
indebtedness and 10 increasing work
ing capital.
The company's total sales in 1915 ap-
proximsted sl25,OOO,OOo, of which but
per cent were foreign. Net earnings
for the year we're estimated by Presi-
dent Samuel P. Colt in letter to the
bankers at S12,500,000.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-01-13
The Dollar in Foreign Exchange

Aside from weakness in the Teutonic
exchanges the market for foreign eK-
change was without special feature
yesterday. The value Of four German
marks. which stood at 70 cents on Thurs
day, dropped to 6912. Vienna crowns
declined from 11.6O cents TO Has. The
downward tendency of German and Aus
trian rates was due directly TO the tone
of the Allies note and the general feel
ing that peace IS still, after all, long
ways of.
Sterlin.: exchange was barely steady.
Russian rubles were easier and fell
back TO 1880 cents, which is close 10
the low record price. The decline in
Italian lire, which has been in progress
for several days, carried further when
the rate went TO 6.92lz.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-01-13
No Policy Formulated

Discussing the industrial prosperity
Of the country, Mr.. Kies said; at
would seem that We might feel justly
proud of our record during the war
period. But how much Of what has
been done has been the fruit Of trained
vision, of constructive thinking and far
sighted planning. o. intelligent econom-
ic leadership, and how much the result
Of pure luck and combination OF, for
US, fortultous circumstances?
without desiring in any way TO de-
tract from the credit which is due our
financial and commercial leaders for
their really exceptional skill in meet
ing and handling new problems, it may
not be amiss TO point out that no def
mite, clean-cut commercial or financial
policy seems as yet to have been formu-
lated for the future"
We must have leadership, the speaker
said, that will enable US TO develop a
comprehensive industrial and CONNER
cal policy. We must have the help Of
Congress. Organization is needed 70
win foreign markets. We should own
the means for delivering our goods to
our customers; legislation in aid, not
| in hindrance, Of the development OF
our merchant marine is therefore
necessary. II we are to hold our own
in the future contest with a reorgan-
lied Europe our production costs must
come down and waste and ineficiency
/ in production be eliminated.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-01-13

Observing YEARLY the concern
which is displayed in many. quar-
ters about the effects upon trade, in
dustry, finance and political econo-
mists Of the great mass Of gold
which has been forced upon US in
exchange for goods, and apparently
unaware Of the fact that there can
be such a thing as a gold imitation,
"The Financier" gives vent to its
feelings in these words:
The currents Of gold flow like the
tides. 1t is impossible TO stop the
movement, and will be until some one
invents process making gold stand
still. The present Administration,
what between pork bills, army costs
and rising expenses, has troubles
enough Of its own, without attempt
ing any King Csnute business. We
have referred before 70 the extreme
ly simple and efficacious plan Of the
South Sea Island tribe, which based
its measures Of value on grindstones,
and. fearing in the interisland COM
merce that some Of these grindstones
might have TO be handed over TO a
semhsavage Lombard Street in the
settlement Of adverse trade balances,
threw the grindstones into the sea,
and thus could say positively that the
basis of value remained within the
kingdom. As a nation we might dig
hole somewhere and drop therein
as many hundred million dollars IN
gold as was necessary TO give US our
working share or hesve few tons Of
specie into deep water with the same
idea in mind. The gold drain will
then cease 10 bother college econo-
mists and those who lie awake nights
p puzzllng how to save the nation.
That, fguratively speaking, is
just what should be done. Impound-
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-01-13

Steel in the Hands OF Brokers.-ln
view Of the furious speculation in Steel
common and other industrial shares in
the last quarter Of 1916 it i, interest
ing to note that on December 80 the
foreign and domestic holdings OF Steel
common in the hands OF brokers
amounted TO 1850 ,436 shares, or 5s.04
per cent of the total outstanding, COM
pared with 2,s29,sOO shares, or 1857
per cent, on September 80. On the
same date investors in this and other
countries owned 2,132,5s9 shares, or
41.96 per cent, Of the junior issue. By
far the greater amount is held in New
York State, brokers having 2,274,47l
shares of common, or 44.H per cent,
in their names, as against 2,l64,976
shares, or 425s per cent, on Septem-
Der 30, showing increased brokers'
holdings. Investors in this state on
December 80 held 9Os,611, or 1857 per
cent, of the common stock, compared
with 9O3,774. or l7.7S per cent, three
months previous.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-01-13
GERMANY'S EXPORTS TO
UNITED STATES IN 1915

The total value Of the exports in
voiced at the American consulates in
Germany for the United States during
1915 was sS,349,909. as against $780,
967,1S3 for 1915. Exports 10 the Phil
ippines were valued at 81 ,i2s. against
Sl4o,S1l. No exports were declared
during the year for Hawaii or Porto
Rico. while in 1915 the shipments were
valued at 's9.159 and ;1e,s4i, re-
spee.ively. Returned American goods
were valued at $4,000, against s17s,5is
FOR 1915.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-01-13

ing our gold in such manner as to
place it under the control of the
Federal Reserve Board would not
only help to check initiation, but
would relieve us of the embarrass-
ment which might attend too rapid
loss of the metal if the tide turns in
the direction of Europe at the end
of the war, as is likely to happen.