davidaulloa/AmericanStories huggingface dataset:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-08-30
Increase Storage
Charges on Freight;
Cut Down Free Time
Renort to Commission Tenta-
lively Approves Railroad
Proposals

WASHINGTON, Aug. 29.-froposSl9
bv the railroads to reduce from nVe
DAVIS to two the free time allowed ior
holding domestic freight at New YORK
for unloading, intended as step u
relieve congestion there, Tentatively
were approved to-day in report TO
the Interstate Commerce Commission
by its attorney examiner. The com
mission has not yet passed upon the
report nor approved the findings.
The proposal to increase storage
charges on both export and domestic
shipments not handled within the pro-
posed two days free time INIT also
was tentatively approved in the report
II adopted the proposed reduction IN
free time would cut by 90 per cent the
free time now allowed for unloading.
The proposal of the New York Cen
trail and other Eastern railroads 10
reduce the free time of fifteen days
allowed for handling export shipments
at North Atlantic ports and the free
time of ten days allowed at Gulf ports
10 five days was condemned in the re
port. eu 5
Before the report is finally passed
upon by the commission the railroads
and other interested parties viii havc
an opportunity to state their views.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-08-30
u. S. Mines Yield
s92,59o,3oo in Gold
Production of Silver Totals
74,4l4,802 Fine
Ounces

WASHINGTON, Aug. 29.-Gold and
silver to the value Of sl41 $500 were
produced during the calendar year 1915
in the United States, including Alaska.
Figures of the Bureau of the Mint and
the Geological Survey, made public to-
day. show a gold production of 4,479,-
O57 fine ounces, valued at s92,590,3O0,
and a silver output of 74,4l4,802
ounces. of a value of s48,953,o00.
California led in the production OF
gold, with 1,063,302 fine ounces, Of a
value of s2l ,9s0,400. Colorado ranked
second, with sl9,1s5,0 900; Alaska third,
with S16,124 1900, and Nevada fourth,
with s9,O64 200.
Other states near the top Of the gold
list were South Dakota, S7,471 700;
Montana. S4,32s. 400; Arizona, s4,092,-
500; Utah, S3.859,O00 Oregon, $780,
500; New Mexico, s1,350,000. and
Idaho, s1,05S,300. The Philippine ISL
ands produced gold to the value Of ST.
514,20O.
Montana led in silver production,
with s9,24O.lO0. Nevada produced So
900, 500; Utah, $4,000; Idaho, 81
ell 500: Colorado, s4,967,9O Arizona,
s4,394, 500; California, S1,274,200; New
Mexico, s1,13s,000
Gold was produced in twenty-one
states and silver in twentyfour.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-08-30
Returned Canadian Soldiers
Being Provided with Farms

The Minister of Lands, Forests and
Mines of Ontario announced during
recent visit to Port Arthur that the
province will soon undertake to es-
tablish an agricultural colony in that
vicinity. The plan is already being
tried at one point, where thirty sets of
farm buildings have been grouped in
one community. Separate houses have
been built for single men.
The government, according to re-
port from the American Consul at
Port Arthur, clears ten acres of land
and advances a $500 loan on the i'm
provement, charging s per cent inter
est. No payments are required during
the first three years. and the loan ex-
pires in twenty years. The farmers are
to be allowed five years to make GER
tain improvements and develop the
farms.
Applications already number 300. Sc
lections are carefully made by giving
a preliminary thirty days trial course
to determine if the men are suited to
farming, and those who show no special
interest in such work are promptly
eliminated. During the trial period the
men are given soldiers regular pay,
separation allowances and shares from
the patriotic fund.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-08-30
Iron Output in 1916
Worth $663,478,118
Four.fifths of Record Output
Came From Lake
Superior

WASHINGTON, Aug. 29.-The Lake
Superior district mined nearly So per
cent of the record breaking iron ore
output last year, while the Birmingham
district mined about per cent, and the
and Adirondack districts
both increased their output. The
years output, as computed by the
United States Geological Survey, was
75,l67,672 tons. Ore shipments from
the mines aggregated T,S70,553 tons,
an increase of 40 per cent over the
previous year. and were valued at $751;
902,277. an increase of 80 per cent, not
10 per cent, as previously reported.
Pig iron production, including ferro-
alloys, amounted to 39,434,797 gross
tons, an increase of 9,51s,5si tons, or
SO per cent over the previous year.
Previous announcement that the in
crease was 29,9l6,2l3 gross tons was
erroneous. Pig iron, exclusive of ferro
alloys, was valued at 663,478,l1s,
previous reports that the increase in
value over 1915 was about that amount
being an error.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-08-30
News Digest
Foreign

London Market CheerfuI.--I,ondon
Aug. 29.-The stock market was quietly
cheerful to-day. Explosive shares were
strong. and the metal group especially
lead and tin, advanced. Mexican, Jap
anese and scandinavian issues were in
demand; improved crop prospects stlm-
ulated Argcntines and Brazilians hard
ened with exchange. Russians were
heavy. Last week Treasury bills
amounting to f42,00O,000 were sold.
Paris Bourse.-Paris, Aug. 90
Trading was quiet on the Bourse to-
day. Three per cent rentes, 81 francs
Is confines for cash. Exchange on
London, 81 francs Is centimes. Five
per cent loan, 81 francs So centimes.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-08-30

Exchange Takes Holiday
Will Close at Noon to View
the Parade

The Stock Exchange yesterday took
official recognition of the parade OF
National Guardsmen to-day by voting
to close at noon. This action was
taken to give the members and en-
ployes an opportunity to witness the
parade without interruption to trad
ing in securities.
As soon as it became known in the
financial district that the governing
committee of the "big board" had voted
to close at u o'clock the managers OF
the New York Curb Market Associa-
ton met and took similar action. The
Consolidated Stock Echange will also
close. At the Cotton Echange late in
the afternoon it was stated that no
move to close this exchange had been
made. The Produce Exchange, at a
meeting this morning, will decide
whether il will stop trading at noon.
As result of the decision to close
the Stock Exchange three hours earlier
than the usual weekday sessions, 1t
was announced that the time for the
delivery of stocks will be at II o'clock
instead of at 2:l5 p. m.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-08-30
Dividends

FL du Pont de Nemours.--Regular quar-
,erIy dividend of Az per cent on the ne"
common stock payable September 10 10 stoIh-
bolders of record August 81. also regular
nvartsYlv dividend of III per cent on the de-
benture stock, payable October 20 10 stock-
holders of record October 10.
FL du Pont de Nemours Powder.-Kegu-
lar quarterly dividend of IA per cent on
tho preferred and III per cent on the com
mon. both payable November | TO STOCK
holders of record October ".
Dominion Iron and Steel.-Preferred divi-
dend for the half year OF 312 per cent; pay
able October to shareholders Of record Sep
TENDER Is.
Dominion Steel Corporation.-Quarter
dividend of / per cent, payable October 10
shareholders Of record September D.
Booth Fisheries.-Regular quarterly divi-
dends of sl75 on the preferred and 80 cents
on the common stock, both payable Octooer
/ to stockholders OF record September 20.
Chicago Telephone.-Regular quarterly ~
idend of 81, payable September % to stock
holders Of record September 20.
Sears -Roebuek.-R Regular quarterly divi-
dend Of Sl75 on the preferred stock. payable
October / TO stockholders Of record Sep
TENDER 10.
Hart, schaaner & MsrI.-Regular quar-
terly dividend of Ia per cent. payable sep
TENDER % to stockholders OF record Sep
TENDER 90
Pi.ree-Arrow Motor.--Regular quarterly
dividend of per cent on the preferred stock
payable October |.
Ell Paso Eleetrie.-Quarterly dividend OF
60 so on the common stock. payable Septem-
Der is to stockholders of record September s.
Globe werpicke.-Regular quarterly divi-
dend Of per cent on the common stock.
payable September 10 TO stockholders Of rec
ord August 81.
Liggett & Myers Tobaeee.-Regular quar-
terly dividend OF IL. per cent on the pre-
ferred stock. payable October ! To stockhold-
ers Of record September II.
Houghton County Traetion.-Regular semi
annual dividend OF 50 y share on TIE pre-
ferred stock. payable October TO stockholders
of record September Is.
Wsrthinston Pump 4 Maehinery.-Divi-
dends of u per cent on its preferred A stock
and ~. per cent on preferred b. payable
October ! TO stockholders Of record Septem-
Der 90.
Tonspah Belmont-Dividend OF l2i7 per
cent, payable October ! to stockholders OF
record September 10
Imperial Oil Company Of Canada.-Regu-
lar sen,i-annual dividend of per cent.
United Drug Regular quarterly dividend
of ~ per cent on the common stock. payable
October TO stockholders Of record Septem-
Der is.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-08-30
Relevant Facts

Bethlehem Steel.-The old 7 per cent
preferred stock of the Bethlehem Steel
CORPORATION sold off 6 points, 70 49,
Yesterday, on a single transaction OF
100 shares. The new s per cent pre-
ferred, which was traded in on "nen
issued basis on the curb, closed AZ
1861. after selling as high as 10Y. De-
spite the fact that the new stock car
ries a higher dividend and is curnula'
tive, it is predicted that !. will continue
TO sell below the old, as it has no voting
power.
C., II. & d. OBSERVATION-DISCLOSURES
Loeb & Co., reorganization mana
gers, announced yesterday that the Bal
timore & Ohio Railroad Company, To-
ledo, Cincinnati division, first lien ana
refunding mortgage 4 per cent bonds,
which have been issued in accordance
with the plan Of reorganization Of the
Cincinnati. Hamilton & Dayton Rail-
way. are now ready for stributon.
The committee, of which ALVIN ".
Krech is chairman, announced that the
new Baltimore g. Ohio Toledo-Cincin.
natl bonds and cash Adjustment OF
interest, amounting 70 $50 for escn I'm
cinnati, Dayton & Ironton bond, are
also ready for distribution.
La Belle Iron WOrks.-Directors have
declared an extra dividend OF ~
share in addition TO the regular quai
terly payment Of 81 share on tne
common stock and the regular quar-
terly dividend of 81 share on me P'eeo
ferred stock. all payable September
to stockholders Of record Septemoe' w.
New York Air Brake.-This company,
which is working on an order ironI cnc
United States government for 3'VVV'vOy
three-inch cartridge cases, fuses sn1
caps and gun-mounts, expects 70 eV
plete the work by December !, or nes
ly four months ahead of time. pen.
cries on the order have already oegU"'
Third Avenue-For the twelve rnons".
ended June 80 last. the Third hYsHs
Railway Company had total ope,H,Sass
revenues Of sS,072, 649, against slI,i'S'
$40 the previous year operstlhs
penses and taxes last year consume
s.. OS2 .29l of the gross. leaving an oP. -
ating income of ss90,35s, a fallihg %
of s2.5S9, $50. Other income broueh1 n -,
net up to sl,O55,2S3. After allowing ;"
interest charges and sinking tunu ~.
ouirements aggregating So, 'oVs, ~.
resulting deficit WAS sl,622,5Zo' AsS'"''
a surplus in 1916 of 1891 ,Oi3; %.
July gross earnings were ssoo,os,S
gain of s3,439 over the Corresponding
month a wear ago. Operating neon.
amounted to s253,SlO. Other neon,
brought this up to s266,5oS, a Toss IN,
s5IIS. There was a surplus tor N,
month of s3s,576, after allowing M
total deductions Of s226,91s. Inc "
plus for July, 1915, was sSO'o'i'
Electric Bond and shsre;.r,
fcrred stockholders of record Auf.
30 next will be granted the pri,,ns,eeeeo
of subscribing pro rata for iv,y Elm.
shares OF preferred stock at par, Ssr
accrued dividends. Each snaren shsrs
Is entitled TO subscribe for one So ~
Of new stock for every eight shares .u.
preferred stock held on the day "
toned.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-08-30
Britain's Profits
On Steel Exports
Worry Trade Here
Market Shows Declining
Tendency as Price Fix
ing Approaches

According to the Iron Age" Amer
lean steel makers are shipping wal
steel to Great Britain at low prices
while that country is making large
profits out of export business in COM
mercial steel Since this means that
the American steel industry is need
lessly losing valuable foreign business,
the leaders of the trade are closely
watching developments in the govern
ment's embargo policy, especially IN
their relation to British steel exports.
Pending the announcement of prices
to be paid by the government for It's
steel, the market has been undergoing
further readjustment on its own ac-
count, which has resulted in an almost
uniform lowering Of prices.
an somi-fnished STEEL" says the
"Iron Age "the high peaks OF two
months ago, reached in early delivery
transactions, and which were far above
the levels of contract steel, have been
toppled over on moderate business,
while in steel-making pig iron the re-
ductions amount to 81 on Bessemer and
as much as 81 on basic.
FINISHED material markets have
shared little in the decline in Bessemer
and basic iron and billets, chiefly be-
cause buying was so limited but plates
in particular are lower, Sc, Pittsburgh,
being now common, representing de-
cline of $50 per net ton. ~.
"The trade" the Iron Age" says, rs
much at cea as to the extent to which
the readjustment will go, and is. not
helped by conflicting advices from
Washington as TO prices TO Allied gov
ernments and the public. In the alb
sence of power to enforce uniform
price for the three classes of buying,
the administration is represented as
turning to the Senate bill for such con-
troll of iron and steel as has been pro-
vided for food and fuel. Meanwhile
sentiment grows in favor OF substan-
TALLY uniform prices to the govern,
ment, Allies and the public provided
there is the anthracite type. of adjust
ment rather than that in bitumlnous
coal.
of the government adopts the pro-
posal to pay higher prices for finished
steel to high-cost mills, pig iron may
escape regulation except that due 70
the expected reduction in coke. No ac-
ton on coke has been taken, though
there are tentative estimates of a 81
price at ovens.
THE status of steel makers on ad-
visory committees at Washington still
waits on the finding of the Department
Of Justice and legislation may be re-
qured TO clear up this situation
Meanwhile all important conference be.
tween the general steel committee and
the War Industries Board is held up
Manufacturers of steel and mu-
nitions, it is reported, have made ef-
forts TO release large numbers OF men
from the draft on the ground that i'm
portant plants will suffer serious re-
duction in output if these efforts are
not successful.
Large additions to the government
demands upon the country's steel ca
pacity are expected to come out as soon
as the price-fxing problem is settled.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-08-30
City Bonds in
Demand as War
Taxes Increase
Investors Buying Steadily
to Avoid Heavy Impost
on Incomes

The deadlock in the investment Sc
curity markets has at last been broken
in one direction. Recently there has
developed a fairly broad demand for
municipal, county and state bonds The
call for such securities is by no means
of sensational proportions, but 1t is
fairly constant, investment bankers
say. There is practically no business
doing in other forms of high grade
securities, except short term notes.
Apparently the demand for munich
pals arises from the belief, supported
by the opinions of many leading attor-
neys, that such securities are exempt
both as TO principal and interest from
any tax levy the Federal government
might enact.
High Yield
The bonds of the larger cities are
selling on a basis to yield anywhere
from Ais to 40 per cent, while the
securities issued by some of the smaller
Municipalities in the South and South
west yield as high as 40 to BIO per
cent on the investment. On the basis
of these yields the income from sucn
securities, it is pointed out, is likely 10
average better than that from railroads
and industrial securities subject to the
income tax.
No intimation has been given by Of
ficials at Washington as to whether or
not any attempt will be made to have
the income tax apply to state and mu.
nicipal securities. The possibility OF
such action has, however, come up Tor
discussion among bond dealers, Lead
ing authorities have contended that uh-
der the Constitution the Federal gov
eminent could not tax the securities
nut out by states, cities and other minor
divisions of government, either as TO
principal or interest, but in some quar-
ters it is believed that special leglsla-
ton might be enacted which would en-
power the Treasury Department to tax
the income from securities OF that
class.
The announcement made by Kuhn,
Loeb e. Co, and the National City Bank
that thew had sold S5,000,000 of per
cent notes issued by the Hooking Val
lev Railroad, due November /, 1918,
called attention to the fact that 1t Is
still possible to dispose of short term
securities yielding a high return. But
bond dealers for the most part say
thew do not look for any material I'M
movement in investment conditions un-
iii the war is over, because they realize
that the large amount of financing the
government will have TO do between
now and the time peace finally Is oe-
clared will provide about all the ne"
securities that the people OF THIS ma
ton will be able to absorb.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-08-30
The Dollar in Foreign Exchange

Continued selling by spectators
forced rubles down to new low record
of 1880 for cables and 1910 for checks:
This represents a discount OF about "a
per cent in the normal rate Of Rus
sian exchange. Some brokers believe
that there is a connection between the
persistent selling of rubles OF late ana
he further exports of gold to Japan.
According to a report now circulating
among foreign exchange brokers, large
sums of money havs been lost by per-
sons who bought calls on rubles good
for over the year end, when the price
was up around q and 28.
Further ease was noted in Swiss and
Italian exchange.
Closing rates yesterday, compared
with a week ago, are given Il the table
below. American bankers have sus--
pended all dealings in German and
Austrian exchange, so that daily quota
tions for either marks or kronen are
no longer available. 49, :,
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-08-30
Silver Up a Cent More
Demand for Coinage Out
strips Supply

Further rise Of one cent in the price
of silver yesterday to. 89A cents an
ounce emphasized the increasing scar
city of this metal. Demands from the
Orient continue heavy. despite the eff
forts made by the British government
to prevent private imports OF silver
into India, while this country, as well
as the countries of Europe, is using a
larger amount of the metal for coin
age purposes. Production meantime
shows little if any increase. according
TO bullion dealers, despite the high
price.
The price of Mexican dollars was
quoted at II cents, an advance OF TWO
cents
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-08-30
New York
Irving National Bank Increases Stock.

At a special meeting of stockholders,
held to act on the joint stockholding
arrangement with the Broadway Trust
Company, it was voted to increase the
stock Of the bank from S4,0OO,OOO to
$4,000 900. The new stock will be sold
at $50, and the privilege OF purchase
will be extended to stockholders of
record September 4, and to expire
October 4, 1917.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-08-30
Panama Retiring
Silver Currency

In accordance with plans formed
some time ago for retiring silver pesos
of the Republic of Panama to the value
Of $1,000 900 gold, the government has
taken advantage of the present high
price of silver by exporting to the
limited States, through the port Oh
Cristobal Colon, 100000 silver pesos
for which it will receive IN return
something more than 100000 IN United
Gates currency.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-08-30
Ask for Wheat Price Based
On Supply and Demand

WASHINGTON. Aug. 29.-Senators
from some of the principal wheat-grow-
ING states had a conference to-day with
President Wilson about general condi-
tons in the wheat country. ana one
price to be fixed for wheat OF the isl'
crop. Senator'S Curtis, McCumpeI'
Sterling and Kellogg were present
Senator McCumber said they asked tne
President TO see that the wheat grow
ers of the Northwest be given a price
for their 1917 product based on the
law of supply and demand.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-08-30
Corn Still Late

CHICAGO, Aug. 29.-"Price Current"
saws: "Ploughing for new wheat crop
is progressing as rapidly as possible
the labor supply being considered. Corn
crop ic gradually nearing maturity, al
though hot weather would be decidediy
heneficiaI Drouth has been broken in
ali sections. A little frost during the
week in the extreme Northwest dld no
damage. Taking the great corn belt as
a whole, the crop is still one week 70
ten days late"
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-08-30
Other Cities
Chamberlin Out of Grand Trunk.

Chamberlin Out or Grand lruhk.-
MONTREAL, Aug. 29.-Edson ]. Cham
berlin, who yesterday resigned as presi-
dent of the Grand Trunk Pacific Rail-
way, to-day retired from the presidency
of the Grand Trunk Railway, the par
emit company, in which Office he is sue
ceeded by Howard G Kelley, WHO has
also been appointed head of the Grand
Trunk Pacific Railway.
Montreal Tramways.-The company
report Of operation for the year ended
June 30, 1917, gives gross earnings OF
s7.725, 49s. a gain of sl,l15,734 com
pared with the year preceding. Net
earnings increased s221,0l6 to S3,l23,-
1927. ard net income after charges was
sS75,353. an increase Of s91,O4s. AFTER
allowing for dividend requirements
there remained a balance of s5S7,4I3'
an increase of s77,039. and surplus TO-
tailed s77,473, loss of s33,94S.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-08-30

on July 20, an increase of $685.
900 for the month which ended on
that date. The improvement is
ascribed to an increase in the invest
ment demand, mainly arising out of
the reinvestment of half yearly divi-
dends.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-08-30
Money and Credit

The Federal Reserve Bank here has
redistributed practically all of the
1926, 900 received from the banks of
this district in payment for subscrip
tions to government certificates of in
debtedness. The final instalment on
Liberty Loan bonds is due to-day, and
il is expected that this will result in
payments into the Federal Reserve
Bank of about s12,O00,000.
No change was reported in the gem
eral money situation. The ruling rate
for call loans was 3h per cent, the
same as the day before, and the closing
quotation was per cent. In the time
money it was found rather difficult TO
negotiate fresh loans for longer than
ninety days, but in the case Of re-
newals the banks were inclined to fol-
low a more generous policy. Rates
were unchanged.
Ruling rates for money yesterday,
compared with a year ago, were as fol-
lows:
Yesterday. Year ago.
Call money!. 3La% 2H%
Time money (mixed collateraD:
so Days. 4 @4Ia% 23493 %
90 days. 4Ia@494% 8 @34D
4 months. 434@5 % 34@334%
s to 6 mos. S @54% 314@334%
Commercial Paper.-Some increase in
the offerings of prime paper was noted,
but brokers who were handling it did
not find the banks any more willing to
buy the longer maturities than they
have been for some time past. The
position of the market continues such
that even the best borrowers have lit
tie reason to expect they can market
their paper at less than per cent for
six months.
Official rates of discount for each of
the twelve Federal districts are as fol-
lows:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-08-30

The aggregate value Of 1887 repre-
sentative securities on the London
Stock Exchange was 1928, 1892, 900