davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1917-11-08
Austrian Loan to Net 81 Il
40-Year 512 Per Cent Bonds
Will Garry Bonus to Buyers

COPENHAGEN, Nov. THE seventh
Austrian war loan will be Of the 5I1
per cent type and will be issued at
92iz, maturing in forty years, says the
"Vossische Zeitung," Of Berlin. Sub
scribcrs will receive bonus of
months interest. and the banks will get
"a commission Of one-half of per cent,
so that the loan will net the govern
nient approximately 911z.
The Austrian government for a time
considered seriously shifting 70 non
maturing consols. TO limit the burden
Of redemption on the coming genera
ton, but finally abandoned the plan for
this loan. Hungary will issue non
maturing bonds Of both and 81. per
cent
The Austro- Hungarian Bank will be
authorized TO lend up TO so per cent
OF the value Of the bonds, charging not
more than per cent interest. and will
carry the loans for from three 10 five
years. By this concession and the
interest bonus 10 subscribers the gov
crnment hopes 10 secure subscriptions
equal 20 the sixth loan. which totalled
6 800. 900 900 crowns (about $3,450,OOO,-
C00) for both countries,
New-York tribune., 1917-11-08
Cotton Men Urge
Standard Bale as
Aid to Shipments
Mill Owners Report a Con-
slant Shrinkage of
Raw Stocks

WASHINGTON, Nov. 7.-Grcater
COMPRESSION. the adoption Of stand
ard bale. more efficient loading of
freight cars and an increase in the snip
tonnage in the coastwise and Gulf
trade were suggestions for facilitating
the movement of the cotton crop ad-
vsnced at a conference here to-day or
cotton manufacturers, railway and
steamship men and representatives OF
the Shipping Board.
Mills engaged on government work
reported constantly shrinking raw
stocks. due 10 difficulties Of transporta-
ton. Stocks on hand were said to be
far below those Of previous years, but
no immediate interruption of work was
threatened.
Two committees, which were ordered
70 report at another meeting November
%. were created by the conference.
One, to be appointed BY Lincoln Green.
vice president of the Southern Rail
way, will discuss the problem with rail
way officials, while the other, 70 be
named by George II. McFadden. Jr., or
Philadelphia, will confer with shippers,
manufacturers and compressors.
Suggestions for a standard bale were
heartily approved by traffic men pres
ent. They told the conference that
varying dimensions prove a handicap
in loading freight cars, and with greater
and uniform size the pres
ent average Of fifty bales car could
be doubled.
There was division among the cotton
men concerning the advisability of
greater compression. Some urged the
present compression Of twenty-five
pounds to the cubic foot should be in
,reased to thirty-two pounds. but others
suggested the staple might be damaged.
in the case of damp bales,
in which the cotton was likely to cake.
New-York tribune., 1917-11-08
Canada Guards Electricity
Ontario Names Commissioner
TO Control Power Distribution

OTTAWA, Ont, Nov. Sir Henry
Drayton. chairman Of the Dominion
Railway Commission, has been sp-
pointed controller Of the production
and distribution Of electrical energy in
the Province Of Ontario. The order
announcing the appointment provides
that a conference be arranged between
the United states and Canadian author
tiles, with a view 20 insuring close CO.
operation.
Sir Henry recently completed an in
yc1ligat.on o. the expectation Of power,
ald in his report stated that while pro
hibition Of export would mean more
power 20 Canadian manufacturer Of
munitions. those in the United States
would b. seriously curtailed or stopped
entirely. He vas Of the opinion that
the oyerlying Canadian interests would
best be seryed By continuing the OPP
eration Of the mUnition plants both in
Tie United States and Canada
New-York tribune., 1917-11-08
The Dollar in Foreign Exchange

Weakness of Italian exchange was
the outstanding feature Of the local
foreign exchange market yesterday
The rate dropped to S.O4 lire to the dol
lar. compared with 7.96 on Monday,
setting a new low record for the war
period. The explanation OF the sharp
movement against Rome was furnished
in the advices of fresh retreat begun
by the Italian military forces. sub
stantial amount of lire was offered for
sale. Scandinavian exchanges showed
practically no change yesterday. Rus
sian rubles were firm.
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 quota
tions for either marks or kronen are
no longer available.
New-York tribune., 1917-11-08
49, Active Securities -
Stocks


[By Tie Associated Prassl
Active stocks made substantial re-
coveries from recent low quotations,
after an early spasm Of weakness. Raj
lies. IL was generally believed, might
have made greater progress but for the
increased heaviness of bonds, many Of
which registered new minimums.
The most obvious inference drawn
from the days operations was that the
brotracted liquidation had exhausted
itself. rendering additional short sell
ing extremely hazardous. Apart from
lower prices for local utilities, there
were no indications that the New YORK
City election exerted more than pass
ing influence.
Gains we're most pronounced in the
stocks which recently experienced
greatest losses, namely, high-grade
rails and standard industrials. To-
davis rebound carr Reading, Great
Northern, Union Pacific, New York
Central and Illinois Central 8 TO 8
points over Mondays depressed levels.
United States Steel made gross ad-
vance of 32s to 95la and other steels
and equipments were 2 to 6 points
higher at their best, shading, however,
on recurrent realizing in the last hour.
Shippings and coppers rose 2 to S1a
points. but eased with the general list,
final quotations averaging to IL un-
der the top.
Trading after the initial tremor was
quite regular, although a few dormant
issues like Atchison at S3 and Ameri-
can Telephone at lO97s were added to
the long list of new records. Brook
lyn Transit also made a new minimum
at AZ and New Haven's drop of points
to 2l%4 put that stock within slight
fraction of its lowest quotation.
Internationals, notably war hota-
tions, led the general decline in bonds.
Liberty Is were firm at par to l00.O2,
but the 3l2s weakened from $3.50 to
the low record of 99.44.
New-York tribune., 1917-11-08
ReAexes Of War

American paper money was at a
small premium above gold in Portugal
before the war. Now it is quoted con-
siderably cheaper than the yellow
metal or draft, the difference on ex-
change basis representing about the
cost of freight and insurance on pack
ages of bills. Practically all gold and
silver money, including Portuguese,
has disappeared from circulation in
Lisbon. Formerly American currency
was bought and sold by banks and eX-
change shops in large quantities.
The phosphate deposits in the Pacific
owned by German interests have been
taken over by British interests. espe-
cially the deposits on Ocean and Ngaru
Islands, which are considered among
the finest phosphate deposits in that
part of the world. In the past they
have paid dividends of 2575 per cent
to the companies operating them. The
question of the New Zealand govern
ment securing some Of these deposits
in order to make sure of a sufficient
supply of phosphates for that Domin-
ion has been taken up in Parliament.
New-York tribune., 1917-11-08
Shippers Contend
Commodity Rates
Are High Enough
Seattle Traffic Man Wants
u. S. to Limit Any Ad-
vance to War Period

WASHINGTON, Nov. Shippers
who contend that freight rates on their
products already are high enough oc-
cupied most Of to-day's hearings on
proposed increases in commodity rates
before Examiner Disque, of the Intra-
State Commerce Commission.
During the hearing, Eugene Morris.
chairman of the Central Freight Asso-
ciation territory board, said the rail-
roads already had formulated, but had
deferred fling, an application to in
clude lumber in the proposed general
Is per cent advance. The plan. he said,
is to apply the increase not only within
the official classification territory east
of the Mississippi River, but inter
territorially.
Wants War Limit Imposed
+. S. De Pass, of Seattle, traffic man
ager OF the Carnation Milk Products
Company, urged upon the examiner
that if the rate advances be necessary
as a war emergency measure they
should be granted. with the understand
ing they were 10 remain in effect only
until the war is over. rates then to be
restored TO their normal level.
He protested against proposed can
ceiling Of through commodity rates on
canned milk and canned vegetables
from Wisconsin to trunk line territory,
and substitution Of commodity rates
from shipping points to Chicago and
Milwaukee and class rates beyond.
Some Eastern lines, particularly the
Pennsylvania and the Baltimore &
Ohio, he testified, have been sntago-
nistic 70 the milk business for years.
Proposed increases OF Ala cents a
hundred pounds on woodenware, such
rs butter dishes. clothes pins and tooth
picks, from Escanaba, Mich. to New
York were opposed by II. D. McEwen, Of
Milwaukee, who asserted that the in
crease as well as a proposed minimum
carload requirement of 10000 pounds
bore oppressively on an Escanaba fac
tory and gave its sole competitor an
advantage in the New York market
Oil Rates Up Friday
Mr.. Morris said the commission and
the shippers generally were seeking
higher minimum carload weights, and
that the only competitor, located in
Central New York, naturally would
have the advantage of the lesser dis
tance to market.
Examiner Disque will conduct hear
ing on Friday on proposed rates on pc
trOieum and grain and their products.
New-York tribune., 1917-11-08
Smaller Taxes
For Midvale Steel
Amount Set Aside in Septem-
Der Quarter Smaller Than
in Preceding Period

The Midvale Steel and Ordnance
Company set aside s7,sl7,964 in the
quarter ended September 30 for meet
ing Federal war taxes. This compared
with S8,l32,591 in the second quarter
of the year. and s6,lS9,027 in the first
quarter. Total reserve of the Midvale
Company for war taxes for the first
nine months Of the year aggregated
S22, ,l39,5S2
Net earnings Of the Midvale in the
September quarter were S1S,045,0 ,082,
compared with S1S,966,l35 in the June
quarter. Net profits after interest and
depreciation charges and taxes amount
ed TO $S,039 ,2S5, against SS,258, 100 in
the preceding quarter. This was equiv
alent TO an annual rate OF Sl6.0S 4
share.
Directors of the Midvale Steel and
Ordnance Company announced yester-
day that the Midvale Steel Company.
Worth Bros. Company and Wilmington
Steel Company have been transferred
to the parent company. which is now
operating these properties.
The following officers were elected
at yesterdays meeting: W. r.. corey,
chairman OF the board A. c. Dinkey,
president; William B. Dickinson. vice
president; Edwin f. Slick, vice-presi-
dent in charge Of operations; John e.
Neale, vice-president in charge of
sales; II. S. Black, assistant to the
president: d. b. Gehly, treasurer; Rob-
ert Brewster, secretary; Marshall Lap
ham, controller; James VI. Milliken,
auditor; Joseph Hill and l.. X. Kruse,
assistant treasurer; T. B. Burtis and
W. A. Martin, assistant secretaries;
s. c. Yates. purchasing agent, and II.
c. Crawford, traffic manager.
Ambrose Mcneil resigned as a direc-
tor, having accepted a commission in
the army. Joseph W. Hartman. presi-
dent of the Hartman National Bank,
and Herbert F. Black were elected to
the directorate.
New-York tribune., 1917-11-08
Relevant Facts
o,,s.ns q Northeastern Rail-

New Orleans & Northeastern Rail-
road.-Gross revenues of this company
for the fiscal year ended June 80,
amounting to s4,4O3, ,622, ex;eedei by
s427,el2 the previous high record
reached in 1914 The increase over 1916
was s621 $50. Operating expenses last
year increased s33s,6O1 and taxes $685.
9ee. leaving a net operating income Of
si.279,153, gain of s214,712. The
balance Of income over all charges was
s1,o51 ,536, an increase of s36S.lS2. This
company is a subsidiary of the South
ern Railway.
New-York tribune., 1917-11-08

larger supply, and the tone reflected
betterment as result. A number OF
new loans on industrial securities for
over the year were reported at 54 per
cent The range Of rates on industrial
loans stood yesterday at 51s 20 5% per
cent
Ruling rates for money yesterday,
compared with a year ago. were as fol-
lows:
Yesterday. Year ago.
Call money!. 40 194%o
New-York tribune., 1917-11-08

The stock market has had little
to worry over regarding the position
of money for a fortnight past
Throughout the recent period OF
swiftly declining prices, money has
been in fairly liberal supply at rea-
sonable rates. The call rate has
ruled around per cent during all
the turmoil in the stock market,
proving that the cause of the trouble
was to be found elsewhere. The
manner in which the banking com
munity has taken care of the money
situation during the Liberty Loan
campaign and the prolonged declin-
ing movement in the stock market is
conducive to confidence. The local
money market will be put to severe
test next week when the first large
instalment on the Liberty Loan must
be paid, but that is expected to
pass off with a minimum of dis
turbance to rates.
New-York tribune., 1917-11-08
Money and Credit

Money market conditions underwent
little change over the holiday. Call
money ~ the Stock Exchange was in
fairly liberal supply yeste rday az 4 per
cent, with a small amount being placed
at 3H per cent.
Fixed date funds were In somewhat
New-York tribune., 1917-11-08
Sinclair Oil and Refining.-Gross in

come for the quarter ended Septemberr
80. 1917, totalled s3,2ls,347, compared
with S3,075,636 in the preceding quar-
ter. Net income after deducting FED
eral income and excess profits tax, esti-
mated at S335,0S7, amounted to s2,54o.-
40l, against s2,654,669 for the three
months ended June 30 last. Net earn
ings after depreciation were s2,Os3'S"5.
New-York tribune., 1917-11-08
Current

The above rates express The cost OF
foreign money in terms Of the Ameri-
can dollar. You buy an English pourd
sterling at, say, S4.75h. The intrinsic
parity is S4S6% per pound. Thus, you
say either that pounds are at a discount
or that dollars are at a premium, which
is owing TO the fact that in England
the demand for dollars with which TO
settle accounts in this country is
greater than the demand in this coun-
Try for pounds with which to settle
accounts in England.
New-York tribune., 1917-11-08

The ease with which a period OF
strain in the money market has been
weathered is attributable in large
degree to the smooth working of the
Federal Reserve system. Bankers
generally agree that without tho
machinery of the reserve system the
huge financial operations that have
recently been handled with more or
less ease would have created finan-
cial unsettlement of the worst kind.
How the Federal Reserve system
has lightened the load of the men,
Der banks is indicated in the Octo-
Der bulletin of the Federal bank,
which points to the heavy discount
ing by the New York Reserve Bank
of collateral notes for city mem
bers chiefly in connection with the
governments loan operations, as the
outstanding feature Of banking op-
erations in the past FIVE weeks. Dur
ing the period the total holding by
the Federal Reserve banks of men,
bers' collateral increased from S70,-
100000 to $271,712,OOO, while like
holdings Of the New York bank
alone went up from s6,568,O0O to
s173,921,OO0 Most of this paper is
secured by United States certificates
Of Indebtedness or Liberty bonds.
New-York tribune., 1917-11-08

United Verde Extension Mining.
In the month of October this company
produced 5000, 900 pounds OF copper,
compared with 4,700,000 pounds in the
month preceding, 100000 pounds m
August and 3,s00,000 pounds in July.
New-York tribune., 1917-11-08
sbattuck.Arirona Copper.-Gross in

Shaftuck-ArlLona upper. -pioe' ~
come for the quarter ended September
30. 1917. amounting to s4S2,6S7, was
s779. .s67 less than was earned In the
preceding quarter, and compares with
si.275.s90 for the corresponding quar-
ter in 1915. Net earnings after eX-
penses and taxes, were s138, $50, against
s741.19s for the three months ended
September 80. 1916.
New-York tribune., 1917-11-08

Cerro de Pasco Copper.--Total out
put of copper in October was the larg-
est in the company's history. being
7.325,032 pounds, or l84,O32 pounds
greater than for September, and com.
pares with 6,035,000 pounds produced
in August, 6,262,00 pounds in July and
5,0S2 900 pounds in June. The COM
pany's production is now running at
New-York tribune., 1917-11-08

Commercial Paper.-This market was
quiet yesterday, with small amount
cf business moving at 5A 10 b12 per
cent.
Official rates Of discount for each Of
the twelve Federal districts are as fol-
lows:
New-York tribune., 1917-11-08

Silver Ears in London, AID, a de-
cline of I'D: New York, 86ssc, off &c;
Mexican dollars, Soc, decrease Of lc.
Sub Treasury. - New York banks
gained from the Sub-Treasury $4,000.
New-York tribune., 1917-11-08
Wednesday, Norember Z, 1917

There was little or nothing in the
news developments TO explain salts
factorily Yesterdays sharp rebound
in stock prices. Election results
were disappointing. News of fur
ther retreat by the Italian armies
was disquieting. Wall Street ac-
cordingly attributed the gratifying
reversal in price trend to conditions
within the market itself, and this
judgment apparently was not far
from wrong. Along with reports,
unconfirmed, but nevertheless cir
cumstantial, that banking support
had come into the market, were in
dications of fresh buying by invest
ors and spectators. Close market
observers credited much of the buy
ing of this character TO the so-called
bargain hunters" who are always
found in the marget after prices
have had a severe setback. AT the
same time, the pressure of liquida-
tion that was so pronounced on Mon
day seemed to have disappeared; at
any rate, little or no selling Of an
urgent nature was seen during the
market session. Prices at the close
were to points and more up from
Mondays last. and in the case of
United States Steel common the net
gain at the end of the day was 27s
points. Steel sold down TO 907s on
Monday. Yesterday it closed at 3d.
after selling as high as 95l2.
New-York tribune., 1917-11-08

the rate of nearly ss ,0O0,O0 pounds an
nually. In 1915, copper output totaiied
II 900, 900 pounds.
New-York tribune., 1917-11-08
NEW YORK STOCK EXCHANGE
TRANSACTIONS

Rail- Other Al
roads. stocks. stocks.
Yesterday. 20e, 200 76C, 100 e69,30O
Day before.20O, 100 e1t,5o0 1,t11,6c0
Week ago. ~, 800 9S3.6C0 1880
Year ago. .3t7,4oo 1,673,ooo 1890, 400
January I To date:
1917. 1s.o38,s0O 1870, 300 15S,s74, 100
1916. .2e 1910, 100 14o,428,9oO 170,23s, 900
New-York tribune., 1917-11-08

Below is given the current exchange
value of foreign money in dollars and
cents, together with the intrinsic gold
parity, as calculated by the United
States Mint:
New-York tribune., 1917-11-08
DAYS

Bank Clcarings.-The days clearings
{ New York and other cities:
New-York tribune., 1917-11-08

Dispatches from Washington con-
vey the significant information that
officials of industrial corporations
are conferring with the Treasury
Department TO find a solution Of the
problem Of financing those compa-
MES which are in urgent need Of
funds TO carry on war work. Re-
ports indicate that two measures OF
relief are under consideration;
either the government will advance
money on contracts for war mate
rials. or measures will be taken to
make corporate notes rediscountable
at the Federal Reserve banks. The
latter plan would seem to afford the
best solution of the difficulty. Cor
porate borrowers would be more in
dependent and would have less red
tape to contend with than would be
the case were they forced to depend
on government advances. Some
scheme of priority should be adopted
as part Of the plan, however. Other
wise, dangerous expansion in non
essential lines might ensue. In any
event. Wall Street will breathe cas-
Ter when an understanding Of some
Kind has been reached and danger
Of possible embarrassments through
lack Of funds has been diverted.
New-York tribune., 1917-11-08

Time money (mixed collateral:
The Daily Ardmoreite. [volume] (Ardmore, Okla.) 1893-current, 1917-10-18
PHILHARMONIC CLUB MEETING.

Mrs, r, y. Guillot was hostess to
the Philharmonic Music club yesterday
afternoon at her home. si3 \ street
northwest The year books are no,
ready yet. but they are expected to be
by the end of the week, and viii be-
delivered To the members
Mrs. y. r. Gulllot was leader and
roll call was answered with current
musical events The program follows
Vocal. My Desire" Nevin- Mrs T.
II. Reid.
Piano. "Rig,,ndon," Mcdowell Miss
Eva Brady.
Vocal. "Dearcs, Mae" Foster, "Su
vance River" and Old Black Joe,
stephen Foster-Mrs W. l.. Davis
Paper. Memories OF Ethelbort Nevin'
Mrs. Arthur Kyle,
Plano Mrs 4. n. Seay.
Nocal--"At Twilight" frimf-Mrs
Arthur Kyle.
Mrs. II. l.. Harts and Miss Ann,
Thompson were the accompanies. Tn,
next meeting will be ON October 81
with Mrs Ran Webb. 25 u street, south
west
The Daily Ardmoreite. [volume] (Ardmore, Okla.) 1893-current, 1917-10-18
AMERICAN AIRPLANES
DREAMING RECORDS
Army Officer Breaks Record for Coniin-
nous Loops at Flying Field.

Worlds records recently made by
army aviators In official training mn'
chimes, show that this country has prob
ably the finest training machines in the
world. These flights were made at the
Wilbur Wright Held. near Dayton. Ohio.
and were recorded In the newspapers OF
that city. The machines used were the
preliminary military training airplanes
built by the Standard Aero Corporation
and equipped with i00horsepower mo-
tors. The most important record is
that for hopping the loop, concerning
which the Dayton Daily News says;
FLYERS AZ the Wilbur Wright aviation
field are discussing what they believe
TO have been worlds record estab-
lished at that field for the number Of
successive times an airplane WIS made
To loop the loop by an army pilot The
record was made during the visit Of
Major Thomas Hanley Jr.. officer in
charge of flying at Bantoul school, and
Lieut. l.. Schroeder. AT the field, when
the latter turned completely over IN tho
air 2S times without stopping. Recent
dispatches made much Of the fact that
an aviator at the Mineola, l.. L. field
| had made 30 successive loops. The
fact at that time was declared to De an
army record. Major Hanlcy and Lieu.
tenant Schroeder flew from the Rantoul
| field. coming by way OF indianapolis.
Cincinnati and Niddetown. a distance
OF 366 miles"
Concerning this flight, the Dayton
Journal says. "Ou what Is said TO have
been an important mission. Major Han.
ley. commander OF flying instruction at
the Rantoul aviation training field AT
Rantoul. H., flew to the Wilbur Wright
field. accompanied by Lieutenant Schroe-
der Lieutenant Schroeder and the
Standard airplane in which the flight
was made remained on the field. The
trip was made at the rate of 700 miles
an hour, covering the 36d miles be-
tween the tieldS in little more than
three and half hours"
Further it is said that this flight i
the first OF a regular air service be-
tween the two aviation camps and that
soon all the flying camps will be con
nected by. air routes over which there
will be steady stream of airplanes.
The chief reason for the inauguration
of these long distance flights is TO train
the army aviators In cross country work
so that they may become experts in
long air raids for bomb dropping.
Aviation experts regard the records
The Daily Ardmoreite. [volume] (Ardmore, Okla.) 1893-current, 1917-10-18

great as IL usually caused BY frost
because of the fact that the crop pros
pect was unusually poor. Warm wealth
or during the latter part of the week
caused cotton 10 open rapidly, and pick
ing IL progressing satisfactorily.
Late sorghum grains ana forage crops
were seriously injured In many localities
By the early frost. Weather conditions
were favorable and these crops are
being harvested rapidly, The seedinr
OF winter wheat continued. with 500 10"
dry In many localities for favorable ger
mination. especially IN the central AMI
western portions. Early sown wheat -
up 20 fair to good stand. but generally
In needing rain badly. Pastures are
fair % good. except short In the south
western counties. and stock generally IN
good condition. .I.