davidaulloa/AmericanStories huggingface dataset:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-06-24
Modern Banking
Methods for China
Graduates OF American Uni
versities Organize lnstitu-
ton al Hong Kong

American banking methods are to be
employed in the Far East. \ bank
known as the Industrial and CONNER
cial Bank, Ltd" has been organized
under the laws Of Houk Kong, with a
capital Of 100000 Hong Kong cur
rency), says George T. Anderson,
United States Consul General At that
city. Il is proposed 70 begin business
at once. The plans Of the company
contemplate ultimate capitalization Of
as much as S5o.000O0O and the estab-
fishing Of branches and agencies all
over China. with a view TO aFordng
Chinese commerce and industry mol
ern banking facilities, which are lack
ing in interior districts az present.
The head Of the new enterprise %
Tien Tau Chcug. graduate Of the
University of Chicago. and among the
other promoters are Jun Ke Choy. q
graduate Of Columbia University The
capital OF the new concern has been
raised. more or less, by popular sub
scriptions. much Of it coming "a a
result Of recent WISH: 20 tne United
States OF the chief promoter, who took
advantage Of his stay in the United
States 20 study American banking and
financial methods
Several more or less modern banking
institutions have been established in
China in late years. including the Bank
Of China and the Bank OF Communica-
tions. both Of which have more or less
government connection and control
and the Bank Of Canton and tho Shang-
hal Commerce and Savings Bank The
Bank Of Canton was started largely
with capital Of Chinese In the United
States. Both OF the latter banks are
reported as successful undertakings.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-06-24
Dividends

Virginia Railway & Power Company.
Regular quarterly dividend OF Q per cent on
the preferred stock. payable July 20 % stock
o. record july ..
Chevrolet Notor Company Regular quar-
terry dividend of psr cent. payable August
! % stock ~ record July D.
Merchant National Bank Regular SEMI
annIa. dividend of 4 per cent. payable July
% stock OF record June 30.
Westinghouse Air Brake Quarterly dyi-
deni OF SiIj a share. payable July 81 %
stock Of record July B.
United Verde Extension Mining Company.
Regular quarterly dividend ~ 80 cents =
share ard an extra dividend NJ = cents a
share. pay able August ! ~ stock ~ record
July iH.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-06-24


equally striking. They are given
here for two products, these figures
also being for the year 1906:
Large
Bessemer Bessemer
pig iron. billets.
Large companies. S12.04 Si7.50
Small companies. 1899 22.36
1t cost the small companies 1876
rer cent more than the large COM
panies to produce pig iron and 27.2
FER cent more to produce steel billets.
The variation between costs of the
different large producers, while not
so great as between large and small
companies, is still important. More
over, the degree of variability must
now be considerably greater in
amount, though not necessarily in
percentage, than il was in 1907. The
producer who does not control his
own supply Of pig iron has to pay
$50 a ton for what he buys-at least
that is the quotation in the open
market. 1t is doubtful if the cost to
an integrated concern such as the
United States Steel Corporation is
more than 60 per cent Of that.
1t is true, of course, that the com
ranies with extremely high costs pro-
duce only comparatively small part
Of the total output-probably about
10 per cent. But they cannot be ig-
nored, for the main thing for which
ali are striving is maximum output.
Moreover, even if they we're elimi-
mated, the cost variation among COM
panies producing the remaining 90
per cent would still show wide differ
ences.
The same thing applies to copper
producers. Taking no account Of
capital charges and depreciation, the
cost of producing copper in 1916 was
GA cents for the Utah Copper Com
pany and 1913 cents for the East
Butte. Obviously, under a price
which would be fair in the case
Of the Utah, the East Butte and
many other large producers would
have to suspend operations. And that
is the one thing which cannot be al
lowed to happen at this time.
Perhaps the Federal Trade Com
mission will find a way to reconcile
all these and the many other conflict
ing factors which enter into the prob
lem of price fixing, but it is doubtful
Il that can be done in any other way
than by contracting for its supplies
on the basis Of cost plus fixed per
centage Of profit.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-06-24
May Earnings of
Southern Pacific
Make a Record
Net Income for the Month
Fell Only a Little Short
of $6,0O0,OO0

May earnings OF the Southern Pacific
Railroad broke all records for that
system. A statement issued by the
company yesterday disclosed operat-
ing revenues Of Sl6,4lO,0l4 last month,
an increase Of S3,529,61 compared
with those for May of GIG. Net rev
cnues after tax deductions aggregated
s5,99l 1855, an increase Of Sl,s97055.
The previous record for gross was
established in March. when a total Of
s15,4s0,sl9 was reported, while in the
case of net operating revenues, after
taxes, the previous record was S5,282,-
FOL, made in October, 1915.
OF s3,529,67O increase in gross rev
enues last month, s2,562.396 was sup
piled by freigh, earnings and SSlOA3O
by passenger earnings The freight
revenue increase for the first five
months Of the year amounted 20 ST..
566.77s.
Despite the generally rising costs o.
labor and materials, expenses of OPP
Grafton and maintenance Of the South
ern Pacific in May by no means kcp-
pace with the increase IN gross fer-
enues Maintenance OF way expenses
in May Jumped s217-J4 over "a year
ago and maintenance of equipment
S206.s32. sportation expenses in-
creased s972,993.
The company's report for May and
the i've months compared with tle
corresponding periods OF 1916 follow:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-06-24

LARGE OIL CORPORATION = SEEKING
A man experienced ia all branches OF on
production 90 take charge OF - produclhs
department. and 60 become "rmbef o.!
fhs general operating MANAGEMENT. W q
are not seeking a man VINO VIII only nave
charge in the field bot want an eNeculINe
sho Ia. had experience 40 head or assist -
ant 10 head Of large producing depart 10
nsnt STATE fIll history ana experience IN
soar fr. reply TO ~. H. /. .. Boa 81.
New York tita.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-06-24
Saxon Motor.-The shares Of this
company, whic. sold at 23% Friday
collapsed yesterday, dropping at one
Elections

A. De Bernard, general superintenf-
ert OF the Missouri Pacific Railway AZ
Kansas City. has been made general
manager o. the Kansas City, Mexico g
Orient a. II. Webb, who had been
superintendent OF the Wichita division
Of the Missouri Pacific, succeeds NJ.
De Bernardo az Kansas City.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-06-24
Large

The cost Of pig iron in the Chicago
district was 8.S per cent more than
in the Lake Erie district. Bessemer
biilets cost 1919 per cent more in the
Eastern district than in the Lake
Erie district; rails cost 1912 per cent
more in the Southern district than in
the Valley district. II is worth not
INK that the increase is much larger
IN the case. Of the intermediate prod
uct than in the case Of the raw iron,
and still larger in the finished
product.
The variations in costs between
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-06-24

Closing rates yesterday, compared
with 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, 1917-06-24
rae importers and Tradefs' National Bank
a. Ness

Nsw York. J4ne aznd 1917
'ifit~rf ~ Twelve Per Cent free -
y fas fc-tsy been declared ~ fhis bank
.tlA1s on ffe IN day ~ Jg'y nclf. The
..h''sr tolls all remain closed fll that
T. p TOWNSEND. Cashier
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-06-24
sYAEoaEp NATIONAL RANK

90 NV Ifltk. June tI. IfII
4 tfs bosrf - Directors - fhls hank haH
- sTsf faf regular qYsrfsrly dividend n
80 ~ Isr cent. snf an extra red
80 iiNfsnf 81 one 90 per cert. psys-
- ssiZ 2, 1871. % s'DcEhoidsfs - record
'sns ~. isl7
IT, ~ DOHOvA.;. Cashier.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-06-24
Money and Credit
Federal Reserve Banks

Washington, June g.
Total resources Of Federal Reserve
banks increased $13S,642,0JO in the
week just ended. The Reserve Boards
statement Of condition Of the banks
June % shows:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-06-24

Bc.ow IS given the current exchange
value o. 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, 1917-06-24
Relevant Facts

Rock Island. Chicago, June 10
Reorganization of the Chicago, Rock
Island & Pacific Railway Company hav-
ing been effected, a president electe
and financial plans approved, a renewal
of the fight for control is expected to
develop at a meeting of the board Of
directors of the road at New York IN
the near future.
Nathan Amstcr. the Boston capital
Isl, who led the fight against the Relc-
Moore interests. charged in numerous
proceedings with wrecking the road
and driving II into the reccvershlp
recently terminated, returned to Bos-
ton to-day. He came west IN come =
,ion with reorganization plans.
The res igna,ion of Charles Gats'
Dawes and +. ID. Hubert, Of Chicago,
are expected al the meeting, Is NJ ..
Dawes has become major OF eng q
reers and expects 10 so 70 France, ana
Mr. Hubert Is said 20 have too much
other business on his hands. Also 10 Is
said that John @. Shcdd, the chairman
may res gu. T. is over the chairman
hip that a fight Is expected 70 develop
between Mr.. Amster. who is said %
favor the Craftsmanship for himself, Is
he is already head OF the executive
committee, and James VI. Wallace.
president Of the Central Trust Com
pany Of New York. Mr. Wallace was
chairman Of the Wallace committee Of
stockholders IN 1914, said by The
Amster faction 20 have been a part of
the ReId-Noorc propaganda, and still
regarded by ,hem as fayoring the old
regime.
Steel Stocks Strong Under the lead
ership Of the United States Steel com
mon stock yesterday all the steel and
equipment issues became strong The
advances were general, with the OK
ceptiop of a few specialt.es, which
were Influenced by circumstances whic-
had no relation TO general conditions
in the industrial world On a turn
over Of $4,000 shares United States
Steel rose from low Of 1852 %
1903, the tnal quotation. BALDWIN
Locomotive showed the biggest ad-
vance. with "a gain Of 6i2 points %
1884; Crucible Steel was up IL. at 84+
while American Locomotive closed al
"a, an advance Of pa points.
Saxon Motor.-The shares Of this
company, which sold at 23% Friday,
collapsed yesterday, dropping at one
time as low as 10, and finally closing az
1912. a net loss of 35s points. On Fri
day the stock declined 3s points. In
view o. the regent strength in other
motor shares. the weakness in Saxon
stock has excited much comment. The
company. it is said. has found itself ir
serious situation as the result o.
cancellation Of orders and the purchase
Of a large amount Of raw materials
previous 20 the time such orders were
taken Last week tie directors Of the
company decided 70 defer the quarterly
dividend Of IA per cent on the com
mon stock until the meeting mex.
month. Wall Street believes now the
dividend will be passed altogether
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-06-24

OF last week. as compared with year
ago, would be about as follows:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-06-24
Gold Reserve Item Larger

An unusually large increase IN the
gold reserve of the Fedora. Reserve
Bank OF New York, as reported IN the
we.a.y statement yesterday, attracted
attention. The item amounted 20 >545,-
1850. compared with 500, 253,e55 the
preceding week. This increase was
partly due 70 the fact that S72.00o,O00
Of gold brought into the United States
from Canada fer British account last
week was deposited fn the vaults Of
the Federal Reserve Bank. Principally,
however. j. was the result of the oper-
alton OF the new amendments % the he-
serve act.
The amendment which was directly
responsible for the gain has 90 do "lt1
Reserve note issues. /, provides for
the issue OF Federal Reserve notes
against notes. drafts bills Of exchange
or acceptances, bankers acccptancest
gold or gold certificates. This consists
OK the addition Of gold and gold cer-
tiicates 20 the paper against which
Reserve notes already can be issued.
The gold or gold certificates held as
such collateral under the new law 3D.
counted as d pant Of the gold reserve
which the Federal Reserve Bans Is
required % maintain against its notes
IN actual circulation.
This change has resulted in all out
standing Fedora. Reserve notes being
shown as liability % tle Federal Re
serve Bank. and of gold or gold GER
uaCates deposited with The Federal Re-
serve agent being included among the
Assets OF the bank The weeks state
,-f-+ Of +ra i.c.i bank besides show
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-06-24
Deposit of Gold
Abroad Reported
By Reserve Bank
Provides Basis for Credits
Needed to Finance u. S.
Military Forces

For the first time in history the
American banking system is physically
linked 70 the system Of foreign coun-
Try THIS became apparent yesterday
when the weekly statement Of The FED
eral Reserve Bank Of New YORK con-
tanned row item gold with foreign
agencies. Sls,73-. 500" It is understood
tha. this sum Is on deposit in the Bank
Of England for the account OF the local
Reserve institution. No actual trans
fer Of gold across the Atlantic, II IS
said. has taken place, but the amount
specified has been "car marked" by the
Bank Of England. In other words, the
transfer Of funds, Il is believed, repre-
ents a mere matter Of bookkeeping
Credits for Military Needs
The purpose OF the establishment Of
the gold credit on the other side is be-
leved 70 be connected intimately with
the United States governments active
participation IN the war. The dispatch
of war vessels and supply ships and
the prospect of early shipments Of
troops 10 Europe means the need Of
substantial credits in England and
France to provide for financing the
needs of these forces. Il IA highly
probable that further large transfers Of
gold 70 American account will take
place from now on.
Negotiations for establishing rela-
tions between the Bank of England and
the New York Federal Reserve Bank
we're formally concluded last month.
An announcement made at that time
stated that the arrangement provides
that the Bank Of England would act as
the correspondent and agent in London
CT the local institution, which in turn
would act in similar capacity in New
York for the Bank Of England.
The amendments 70 the Federal Re
serve act signed last week by the Presi-
dent included one giving the Federal
Reserve Board power 20 direct the Fed
eral Reserve banks TO open and main
tain accounts in foreign countries. It
is uaderst TODD that the opening Of the
initial account shown 10 this weeks
statement ot the New York Federal Re
serve BANK is resu., Of the amend
ment.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-06-24

Clearing House Statement. - The
weekly return Of the Clearing House
banks disclosed a decrease OF $l2.2-3.-
500 in surplus reserves. while loans
and discounts decreased S54.S36.ooo.
United States government deposits
with the local banks were carried a.
S12S,067, 900. The detailed statement
follows:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-06-24

Sub Treasury.-New YORK Dahks
lost TO Sub-Treasury S3S3,0O0.
Silver.-Bars in London, 1913 pence;
New York. 1872 cents; Mexican dollars,
61Ss cents.
London Money Market.-London,
June 23.-Money. 4G4i2 per cent DIS
count rates. short and three month
hIls. As per cent. Cold premiums a.
Lisbon. s..
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-06-24
investments =. 26,4e7,4t2 2e,472,4i2
Total res'ces.s7e2 254.o45 s4se, 1861

Total res'ces. s7e2. 254,o45 S4oe, ESQ, 1i2
LIABILITIES
Capital ...... s12,o63,4oO S12,o63. 100
Member banks
dep'ts (net) 3o3,ee4.o52 31o,o4.575
Govt. deposits. 227,s82,413 1859, 1o3
Dut TO othcrF.
K. bks. metz 41,997,611 35,535.676
Fed. Res. notes
metz .... 2o3,373,t3o 6,162,5o0
All other lab. 2,e53.439 1900, 965
Total lab 1872 254,o45 s4ee, e66.142
Fed. Res. notes
outstanding. 223,630,065 2le,950,865
AgEt. which is
dep. with f.
Z. AGENT. 223,690,oe5 2I9,850,665
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-06-24

large and small companies are
equally striking. They are given
here for two products, these figures
also being for the year 1906:
The Ocala evening star. [volume] (Ocala, Fla.) 1895-1943, 1917-10-25

For the last three years, Mrs. J. P.
Phillips has been, with industry and
good taste, cultivating flowers at her
home in the second ward. Last night,
four cows broke in and in few min
utes destroyed all that it had taken
her years to accomplish. Mr.. Phil
lips, awakened too late to save the
flowers, corraled the cows, and after
an hour and half's telephoning rous-
ed COW cop, who took the animals to
the pound. 1t is to be hoped that the
city will make the owners of the
cows pay fully the material damage.
Any woman who has with care and
toll raised flowers can understand
that in sentiment their destruction
cannot be atoned for. This COW bust
ness is becoming fierce.
The Ocala evening star. [volume] (Ocala, Fla.) 1895-1943, 1917-10-25
SPECIAL MASTERS SALE

Notice is hereby given that under and
by virtue of a final decree entered by
the Circuit Court of the Fifth Judicial
Circuit of Florida, in and for Marion
county, In chancery, Of date August
goth, 1917. in certain cause therein
pending in which Elizabeth ]. Martin
was complainant and J. W. Melton,
Rose 7. Melton, and others were de-
PENDANTS, /. the undersigned special
master in chancery, on the
fifth day of November, 1917
between the hours of eleven o'clock a.
n. and two o'clock p. m. at the south
door of the Marion county court house
in Ocala, Florida, viii offer for sale
and sell at public outcry to the highest
and best bidder for cash, the following
described land situate in Marion coun-
~. Florida, to-wit:
Lot two CD Of Block a. of R. J.
Steele's Addition to the town of Citrl.
F. r. HOOKER,
Special Master in Chancery
HOOKER AND MARTIN,
Compliments Solicitors. 9-27-thurs
The Ocala evening star. [volume] (Ocala, Fla.) 1895-1943, 1917-10-25

The first week after it's re-opening,
the "Good Fairy" tea room has done
an excellent business, which the Star
hopes will not fall off. Miss Doris
hurry thoroughly understands how
to conduct this dainty business enter
prise, which it is considerable ad-
vantage to our city to possess.
The Ocala evening star. [volume] (Ocala, Fla.) 1895-1943, 1917-10-25

Leslie Bostick, on-commissioned
officer in one of Uncle Sans cavalry
regiments, has invested for his moth
er, Mrs. Minnie A. Bostick, in Ocala,
$500 in liberty bonds. A mighty good
example this patriotic boy has set in
making such an investment for such
purpose out of his slender pay.
The Ocala evening star. [volume] (Ocala, Fla.) 1895-1943, 1917-10-25
Another Barefoot Boy

Hoover's unique experience in
feeding Belgium made him a natural
selection as food controller of the
United States, for it ought to be re-
membered that the United States did
not wait until Americans were hun
cry or the allied soldiers starving be,
fore appointing a food controller.
Hoover now works in Washington
with tremendous staff upon a task
that is far more difficult than that
which he grappled in Belgium. But
he has the habit of success. AS a
boy, he earned money to put himself
through college, and when he was 26
he was the mining adviser of the Chi
nese government. He discovered and
operated mines on three continents,
made his own fortune and that of his
partners before he was forty, and has
a gift for organization and admins
tration that few men possess. He is
an American that the United States
may well be proud of and whom the
Allies, and particularly Belgium, will
always hold in the highest esteem.
The Ocala evening star. [volume] (Ocala, Fla.) 1895-1943, 1917-10-25

Rev. ]. R. Herndon's idea of pre-
senting the food conservation plan to
the people of his congregation at the
weekly prayer meeting Wednesday
night was very practical one. 1t is
easy to see what a great effect such
a~Practice would have for all our
public measures if it was put in eff
feet and consistently carried out all
over the country.
The Ocala evening star. [volume] (Ocala, Fla.) 1895-1943, 1917-10-25

Mr.. Rawle, travelling salesman for
the Standard Oil company with head
quarters in Ocala, and Mr.. Will Rilea,
local agent for the company, went to
Jacksonville yesterday afternoon to
attend a three days session of the
representatives of the company in
Florida.
The Ocala evening star. [volume] (Ocala, Fla.) 1895-1943, 1917-10-25

The members of the Southern Col
lege football team will take dinner at
the Empire Cafe tomorrow noon, on
their way to Gainesville, where they
play Saturday.
The Ocala evening star. [volume] (Ocala, Fla.) 1895-1943, 1917-10-25

The remains of Mr.. Frank Shef-
field, who died Tuesday morning,
were embalmed by McIver & Mac
Kay, and the funeral was deferred
until his daughter, whose home is in
Denver, Colo, can arrive, which will
probably be Sunday.
The Ocala evening star. [volume] (Ocala, Fla.) 1895-1943, 1917-10-25

FOR SALE-My new home in Dunn's
Highland Park addition. Fine location,
near both schools; fruit trees, straw
berries and garden. House tho1 oughly
screened; clearwater, telephone. J. E.
Frampton, 100 E. 9Th ST., Ocala, Fla.
Phone 1856. Sins
The Ocala evening star. [volume] (Ocala, Fla.) 1895-1943, 1917-10-25

The fire at p. m. was in the yard
of Miss Wartmann's home in the sec,
ond ward. Some trash was being
burned and it set fire to the grass.
The fremen and neighbors put out
The Ocala evening star. [volume] (Ocala, Fla.) 1895-1943, 1917-10-25

The greatest human care and the
highest human intelligence ought to
go into the filling of every ,prescrip-
ton. This describes our service. The
Court Pharmacy. 17-tf
The Ocala evening star. [volume] (Ocala, Fla.) 1895-1943, 1917-10-25

Beautiful bed room suits just re-
ceived-ip walnut, mahogany, gum,
Circassian walnut, CHARTERED oak and
white ivory. Marion Furniture Com
pany. 25-3t
The Ocala evening star. [volume] (Ocala, Fla.) 1895-1943, 1917-10-25

Beautiful bed room suits just re-
ceived-in walnut, mahogany, gum,
Circassian walnut, quarteFed oak and
white ivory. Marion Furniture Com
pany. 25-3t
The Ocala evening star. [volume] (Ocala, Fla.) 1895-1943, 1917-10-25

Beautiful bed room suits just re-
ceived-in walnut, mahogany, gum,
Circassian walnut, CHARTERED oak and
white ivory. Marion Furniture Com
pany. 25-3t
The Ocala evening star. [volume] (Ocala, Fla.) 1895-1943, 1917-10-25

There is bread and bread. but the
best bread to eat is the famous But
ternut bread, made at Carriers Bak-
cry, and on sale at retail grocers. If
The Ocala evening star. [volume] (Ocala, Fla.) 1895-1943, 1917-10-25

You can buy your bread, pies,
cakes, buns, ETC., cheaper from US
than you can bake them yourself.
Carter's Bakery. If
The Ocala evening star. [volume] (Ocala, Fla.) 1895-1943, 1917-10-25

within the Law" at the Temple
yesterday, was great picture. It
drew full houses, and the people
watched its run of the. reels with abb
sorbed interest from first to last
The Ocala evening star. [volume] (Ocala, Fla.) 1895-1943, 1917-10-25

w. X. Lane, Nj. D., Physician and
Surgeon, specialist Eye, Ear, Nose and
Throat. Law Library Building, Ocala.
Florida. IF
The Ocala evening star. [volume] (Ocala, Fla.) 1895-1943, 1917-10-25
WOOD

When you want wood call my resi-
dence, phone $40, or call Teapot
Grocery, phone Is. Prompt delivery.
"a j. FL. j. Counts.
The Ocala evening star. [volume] (Ocala, Fla.) 1895-1943, 1917-10-25

Mr.. T. Robinson has returned
home from a brief visit in Palatka.