davidaulloa/AmericanStories huggingface dataset:
The Brattleboro daily reformer. (Brattleboro, Vt.) 1913-1955, 1917-03-26
LINER ST. LOUIS
REACHES PORT
First Armed American Shin
to Pass Through the
Danger Zone
MANY AMERICANS
ON BOARD SHIP

Carried Only 81 Passengers, But the
Crew Contained 3o5 Persons, of Whom
l3l Arc Residents of the United
States.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-18
Curb Market

Note.-The Tribune assumes no respon.l
bility for the accuracy or authenticity OF curb
market quotations. The New York Curb As
ISOLATION produces no official quotation list
Quotations are reported by individuals over
whom the association has no control. Any
one can make prices on the curb and get
them printed in the daily lists. even without
the foimality Of first submitting the shares To
the Curb Association for its approval. Some
securities are regularly listed-that Is, thez
are approved for trading by the Curb Associa.
ton, and it is required that information con.
corning them will be filed from time 10 time
with the secretary. Such information is open
to public inspection. Some other securities.
like the Standard Oil subsidiaries, are lad.
mitted 20 quotation" without d regular list
ing greater number are unlisted No one
has any authority over them. Unlisted stocks
are marked thus 81. They are principally
mining stocks. and most Of them are pros
poets" but there is nothing 10 distinguish
pros poets" from operating properties" in
The unlisted group. There are q few listed
mining stocks. and among them "pros,ect,"
are distinguished by the abbrev.ation a
pros" after the name. With this notice duly
given, The Tribune prints all quotations
without further responsibility. Transaction,
and prices Thursday were reported as FOL
lows:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-18
Stocks


Wall Street, May II.
The stock market supplemented For
the most part its gains of the previ-
Gus session. Speculative interest,
with sprinkling Of public inquiry.
centred largely around steel and iron
industrials. especially those issues re
lated TO the equipment and munition
groups. United States Steel's high
quotation of the day, 1925. was part
ly cancelled in the more insistent sell
ing for profits of the last hour.
Foremost among the other strong
industrials and specialties were Lack
awanna, Superior and Gulf States
Steels st gross advances of 3 20 5
points. New York Air Brake added
c points 20 yesterdays substantial
rise at 14S. Harvester Corporation,
Westinghouse and Colorado Fuel were
higher by TO 8 points at best quo
tations. but fell back, in common
with the general list.
Coppers were apathetic until the
final hour, when they cane into brisk
action on reports of the consumma-
tion OF a large government contract.
Shippings were among the most
prominent shares, their strength prob
ably resulting from the arrival of an
American naval force in British wa
tiers.
Rails failed 20 record more than
moderate advances. although more
sctive than recently. Advices from
Middle Western and Northwestern
points. which reported promising crop
conditions. accounted for the better
tendency shown by grangers.
Heaviness which at times vcrged
upon weakness was denoted by the
motors, sugars and minor rails. Lake
Erie & Western preferred lost points
at so and Cuban-American Sugar 6 at
100.
The general bond market was ir-
regular on lighter offerings.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-18
Dividends

Alabama Great Southern Railroad.-Reg-
ular semi-annual dividend OF per cent and
an extra dividend of one-halt OF per cent
on the preferred stock. payable August 20 TO
stock OF record July 81 and regular semi
annual dividend Of 2iz per cent and an extra
dividend Of per cent on the common stock,
payable June 20 70 stock OF record June 4.
Atlantic Coast Line.-Rerular semian-
nual dividend of 3Ls per cent on the COM
mon stock, payable July 10 70 stock OK rec
ord June 10.
Cambria Steel Regular quarterly dividend
OF l,s per cent, also an extra dividend OF
II. per cent. both payable June 10 To stock
Of record May 81.
Adams Eypress.-Regular quarterly divi-
dend Of $3.50 per share. payable June 1 To
stockholders of record May Fl.
Northern Ohio Electric.--Rcsular quarterly
dividend of 10 per cent on the preferred
stock payable June 1 TO stockholders OF rec
ord May 81.
National Lcad.-Reg1ilar quarterly divt.
dends Of IL. per cent on the preferred ana
| per cent on the common stocks. The Pre-
ferred is payable juno 10 TO stock OF record
Nav %. and the common June 80 TO stock OF
record June 3.
Union Twist DrilI-Dividend OF IS share
on the common stock, payable May 80 I'd
q
RrookIyn Union Gas.-Extra dividend OF
ner cent and the regular quarterly dividend
of Ia per cent, payable July TO stock OF
record June ID.
Aoushnet Mills. Regular dividend OF p
nor cont and %, per cent extra. payable
June / To stock OF record to-day.
Cincinnati New Orleans 4 Texas Pacific.
Regular quarterly dividend Of ! = per cent
on the preferred and regular semi-annual
dividends Of 3 per cent and ga per cent
extra on the common stock,
New England Coal * Coke.-Divfdend OF
3 per cent. payable May -.
Iron Cap Copper mi-annual dividend,
Of 50 cents a share on the preferred ana
common stocks. and an extra dividend oil %
cents a share on the common stock. payable
.Iuly 10 stock of record June 10.
CrueibIe steel-Reyular quarterly dividend
Of q, per cent on the preferred stock. ana
dividend Of 4 per cent on account CT pre-
ferred dividends in arrear. payable June 50.
FEDERAL Coal & Coke.-Dividend OF 10 per
cent, payable May g.
Hooking Valley NEUTRALITY-SUSPICIOUS.
dividend OF . per cent.
Eastman kodak.-Regular quarterly div!-
dends Of 2i2 per cent on the common STOCK
and 4, per cent on the preferred stock. pay
able July , to stock of record June 2.
Chesapeake l. Ohlo.-Dividend OF 2 per
cent for the six months period. payable June
80 to stock of record June ..
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-18
Other Cities

New Jersey Bankers Meet.-Newark,
y. j., May 1.-THE New Jersey Savings
Banks Association met in annual ses-
sion at the Robert Treat Hotel to-day
and after a general discussion OF sub
jects interesting to the savings institu-
tions elected the following officers;
President Ralph d. Crane; vice-presi-
dent, John Fischer; secretary and
treasurer, Howard Blddulph. Adrian
Riker and Charles 8. Schultz were
elected members Of the executive COM
mittee,
Following the transaction OF routine
business during the forenoon the dele
gates had luncheon. During the after
noon session Thomas w. Lamont OF
j. P. Morgan & Co., In Manhattan, OUT
lined the details of the Liberty Loan
and told how the issue was being
handled in New York. Other speakers
were Assemblyman Arthur n. Pierson,
OF Union County, who discussed his
financial legislation which was enacted
last year and this year, and William
j. Kelly, from the State Controllers
Office, who explained the operation OF
the law since changes were made in re-
lation TO the inheritance tax act
Opposes National Food Commission
Chicago, May III. P. Griffin. presi-
dent of the Chicago Board Of Trade,
to-day expressed emphatic disapproval
of the plan for national food com
mission, on the ground that II pre-
supposes a calamitous situation that
does not exist and is not expected to
exist"
"A national food commission" he
said, would serve to keep the public
mind in continual fear and apprehen-
sion. An international food commits
sion probably would be of valuable SER
vice In time Of war, such body to be
composed Of competent representatives
from the allied and neutral nations
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-18
Produce Markets--Current

Butter.-Receipts, S.s8S packages. Cream
cry. higher scoring than extras. per III. 400
40 ac extras (92 seorel. 80 &c frsts (Ss to 81
score). 3Sq39c; seconds ts3 to 81 score) >.
$685. l2c thirds. $685. &c: creamery I'M
sailed, higher than extras. 40 auilc: extras.
zoe. frsts. 80 Il Q39 nc seconds, 30 = n 3sc !;
state dairy, tubs finest 39c good TO prime.
50 i2U3Siac; common TO fair 33Q35c reno
waited. extras. 57q37isc; frsts. 80 y q 80 TIC !;
lower grades. 32G3ic: imitation creamery.
frsts, 33G34c; ladies'. current make, frsts.
S2G32 &c: seconds. 81 lac lower grades. 30 u
aisle: packing stock. current make, No 1,
81 i7q32c; No 2. Bic: lower grades. 29Ia9
3Ji2c.
Cheese.-Rcceipts, 1863 boxes State. whole
m, fresh, flats. colored. specials. per ID. &c
white, specials, &c; co!ored average run,
IS u H26%.c: white. average run, 26iaV
26a.c. lower grades, 26q 26Ac: twins. col
ored, specials, &c; white, specials, &c !;
colored average fancy, 25a.c; white. average
fancy. 269.c; cheddars, specials. 27M27L.c;
held. all styles, specials. 2sa2slse; average
fancy, 2tM21I 2c; lower grades. 25M26 &c !:
Wisconsin. whole milk. fresh. fancy. twins.
white. 5lsq2Ic colored. 26iaq21c; double
daisies. 26iam2fc: Young Americas, 20 y ~
&c, held. all styles. ga Sizc; state. skins.
flats. specials. 2002lc. twins and cheddars.
specials. 2OQ2lc: fats. choice. lsa l9c; twins
and che,idars choice. lSd ice, fair TO good.
l5q lie: lower grades. i0Hlii2c.
Eggs Receipts, IS, O96 cases. Fresh gath
cred. extras. per dozen. 37i243sc storage
packed. frsts. 80 X n SIC: seconds. 50 = n 36c :
fresh gathered. fi-ss. 35436izc: seconds
and lower grades. 3l434iac dirties. No. /.
33q i2c: No. , and poorer. 500 32i2c !:
checks good to choice. dry. 32Q % &c: un-
dergrades. 29N3i isc; state. Penn and near
by Western. hennery whites. fine 10 fancy.
37ikQ3Sc; ordinary 20 good. 36La 431c /:
gathered whites, ordinary to fine. 36H37c;
Western and Southern. gathered whites, IS =
G37c; state, Pennsylvania and nearby, hem
merry browns, 81 y use: gathered brown and
mixed colors, ungraded. 35 u fp3Ic: duck eggs.
Baltimore, ESQ 4Oc; Western and prime
Southern. 35QSse; ordinary, Southern and
Far Southern, 3OG3fc.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-18
Industrial
Metals

The makeup of the Council of Ma
tional Defence subcommittee on cop
per, headed by John D. Ryan, was ia
vorably interpreted in the copper trade,
the impression being that the industry
will not suffer from ignorance of real
conditions if men such as have been
selected are to look after the govern
ment's requirements. Quotations are
being firmly held. with nearby copper
scarce.
The American Smelling and Refining
Company has advanced the price OF
lead from 91a cents TO 10 cents n
pound. The spelter market was mac
tive Yesterday, with no price changes
reported.
Current spo. prices for few of the
principal metals and metal products.
compared with those prevailing at the
corresponding time Of last year, follow:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-18

Sales. Oman ui,h
500 lint TT Corwl S, 5. q.
1000 do pr 1. = Il IS
100 keyst Tire & r 1854 i51. is,. II 81.
lsg kresge new.iot ioi foi ioi
200 lake Torp Bt. p. "a.
10 LUX ST lst pf. foiD, ioa 1911, 1902 }"
s9n0 Maxim Mum. 2 IL
1900 NAT Conduit. 32, s21s go s5as
s sSS . y An & P. ga "a ga AZ
20 a . Smith c pr s4ls s4tss s4s s4I,
300 & T TT pr D.. fifs ~ iifs 30
2000 'Stand Motors. i2ls t2y. i5E i5,.
1000 steel Alloys c. - -
-5OOv Subm b ctfs 25i, 2sl, PSI. "a
900 Tri V etfs. Ia ~ III ~.
100 Y : St'mshlp 90. 81. So So az
500 United Motors. so1s so1s 291, 2ezss
Geo .W 1nl,ed sugar. 3e,a 3eIa 3e's 36ss
1000 WIN Aircraft. So sf
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-18
New York

Bank Capital Increased-Directors OF
the Mercantile Bank OF the Americas
have voted TO increase the capital stock
from 100000 to 100000, and the
surplus from S250,0O0 TO 100000. W.
A. Castor. of the National Shawmut
Bank of Boston. and II. Fleishhacker'
president Of the Anglo-London Paris
National Bank of San Francisco, have
been added 20 the board.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-18
News Digest
Foreign

Russian Securities Firm Abroad
London. May 1.-THE stock market
maintained a steady and cheerful tone
to-day, with the feature the continued
strength in Russian bonds, which
closed point higher. Russian mining
and industrial shares were correspond
ingly frmer. British gilt edged seeuri-
ties, especially colonial bonds, received
attention, and the leading gold mines
were strong, while rubber and OIL
stocks were the best of the speculative
section. American securities were
marked up with Wall Street, but they
were only occasionally dealt in. Cuban
railroad bonds were firm.
The supplies OF money exceeded the
demand. Discounts were dull.
Money was quoted at 314 IA per cent.
Discount rates were 4ll-l6 per cent
for short bills and "A per cent for
three months bills.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-18
Yesterdays

Cottonseed Oil.-The market for cottonseed
oil yesterday was comparatively quiet. totaI
sales aggregating 1920 barrels. Prices de-
yeloped heavine-s after a steady opening, and
At the close OF the day we're 10 IL points
net lower. The weakness in lard caused
longs 10 liquidste and underlying sentiment
was rather inclined TO the bear side. owing
10 fears Of government control OF prices and
also owing 10 a slow cash demand The
strength in the cotton market and further
advance in tallow failed 70 stimulate conf
denee. although it served TO cheek selling 10
some extent
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-18
= Commodities 9

late confidence somewhat Favorable reports
or the new crop are the general rule. In the
local cash market prices were steady.
fes'dsys Previous Year
Cash: close. close. AGO.
New York . "a .76I. soi,
Contract,
Chicago. July ..,.. .64h IS .42H
Chicago. September .55X .56Ia 1917
Rye.-Market easier
Ycs'day's Previous Year
Cash. close close ago
New York, bush. S2.35 S2.40 sf.o7I,
Flour and Msal.-Quotations were,
esday's Previous Year
close close ago
Flour. MINI. spg. pat. si46o $f5.25 $500
Rye -four choice. 80. 1875 1875 $50
Cornmeal. kiln dried. $50 $50 4.25
Bran, In sacks ....... $500 $500 24.25
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-18

Sugar Futures.-Sugar futures yesterday
were easier under continued selling BY out
side interests. with closing prices 10
points net lower. The easier feeling in
raws and the more liberal offerings from
Cuba also seemed 20 encourage selling. while
buyers were inclined 10 be timid and await
the outeoms of the proposed TAX. with the
only support in evidence coming from shorts
or from local trade sources. Sales for the
day were 1900 tons.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-18
Sustenance
Cereals

WHEAT. - Liquidation was still in
progress Yesterday, and prices early IN
the day dropped IL TO l6 cents, the
selling at times being quite vigorous.
II was reported that .ne Allied govern
ments had been requested by Federal
authorities to liquidate their long con-
tracts and that the United States gov
ernment was considering taking con-
troll of the export situation, with the
intention of allowing shipments only TO
the extent of the apparent surplus.
Local exporters, however, were disposed
Ia djscredit these reports, and insisted
that the open interest in the market
is not as large as reported. =.
0 There is, however, comphcatloh OF
contracts. as many shippers oought
futures against sales for export, ana
the market is now endeavorlng to clean
out these contracts by the process OF
liouidation under restrictions when 90
rot permit Of new purchases. Ihere
was a partial recovery from the low
point, and final quotations were TO
IL cents net lower.
Weather conditions were again satis-
factory for the new crop. WINTER wheat
is reported making rapid growth with
higher temperatures. The Northwest
reported spring wheat seeding ABOUT
completed. with acreage slightly In ex-
cess of last year. Receipts at primary
points were surprisingly large IN view
of the reported exhaustion OF stocks
Reports from Argentina said that an
EXPORT embargo had been placed on
wheat. This action was taken in April,
but had been rescinded owlng 70 vig-
orous protests from the United states
and Great Britain. Offers OF cash
wheat were slightly larger, but were
still comprised of comparatively small
lets. and while cash prices IN some
cases were lower, the Minneapolis mar
ket was firm and showed gains Tor the
day of about cents.
Yes'day's Prev's Year
casb. close. close. ago.
New York. -. s3.16 SS25 1924
Contract:
Chicago, July. 21s ~ ~ ,ts34
Chicago, SEPT 1893 2-o| l''S7s
Corn.-Undsrlying sentimen. in this mar
~ seems 10 favor higher prices on account
sf small stocks and strong cash position
Af,sr an opening advance, however. quota
tions sagged in sympathy with wheat. ana
closing figures were &C To &c net io"ef'
rron and reror,s from the West stated that
FARMERS are making active progress IN tue
completion Of ploughing and planting IN the
northerIy part OF the belt Receipts were
moderate at interior points. out u was said
that the country Is showing more dspoe'toh
- Yes'dAys Previous Year
o.. close close. ago.
New York .......si76Ia S7s1a '"F1
Contract: ,, ,s,.
Chicago. July ...- l.e9 ,'o< ,55e
Chicago. September. l.-S Lava "<iz
Oats.-The market was influenced by the
action Of wheat and corn. and maj priee-
Sysre 4 9 10 T.e net lower. Exporters were
Ia 10 hsv. taken about 1900. 600 bushels
r@sently. and this had tendency TO stimu-
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-18
Bonds

Trading in bonds on the New YORK
Stock Exchange Thursday amounted 10
81. OO9 900, against s3,57l,O00 Wednes-
day. S3.46i, 900 week ago and so'oZs'-
600 a wear ago. From January to
date si21,26i,oOO, against $il2,sl9,ooo
in 1916.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-18
Standard Oil Subsidiaries
Other Oil Stocks

Sales. Open. High. Low Las,
5000 fallen OIL. so SO so So
s5 Soc A iS@ oil Vent ca P 6i % % % %
800 800 Atlantic Pet: Ga eI4 81, SO
200 tC VI o Ga prl.. 65 65 e5 e5
1000 &c Co 20 RI. 12n 12Ls 70 u
lsoo &c Pet : "a D pr. q 4'' IS ss4s s."
1000 'E!k Pet. 1oIs 1913 ga ga
200 'Esmeralda o c. p "a j "a
} $1,000 81 ederal Oil o.. 5Ia So 53L
1900 ,,Internatl Petr. 1893 1915 1919 1855
goo kenova o IA ~ 2 L z a,
90 keystone Cons. 594 55s So 55s
100 'ILost City Oil l8 4s az 80
5000 merritt Oil Cor % 1924 % %
1900 :tMId~est o. OIL. y" rs 70" II"
1000 midwest Ref. .124 1874 100 1874
10. 100 Nat Oil & Ref ga sss sss sss
10000 'fOhla Oil ..... g.
300 'fdo pr ..... go 50 e3 60
2900 Okla Pr & Ref. el e3l GA ess
$3.50 tomar Oil & G. 81 "a 30 80
1900 Osage-H Oil -. s1s sas as sss
2500 Penn Gasoline. So 81 81 81
1900 -Penn-Wyom Oil g 8 g.
1850 ssquoysH oar IL IL " rS
1900 Sinclair Gulf "a IS 32ls 80
$4,000 I'm Westn Oil. 81 a y "a
1880 'Vct Oil new st 10 10 @ 10"
1900 West States Pc In IN ~. In
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-18
- Active Securities =

City Of Toxic IS 1919 Dc IS 1918
IT a 70 es1s 100
Cuban Rep IS 1904 Newfoundland 81 1919
s7l44 ea34' eslzG 90
do ser A l9ig Norway 6s Oct 1917
e21Aa seIs 100 n 1000
do 4its 1s4s do 6s deb 1923
n 90 10iIaQ1ol
Imp Rus rub 5lss &c Quebec City % 1920
2li G243 sskFfoo.
do Gas 1913 Rep Of France %
IS Gs7 f4s @i5t
Imp Rus rub 5iss Swiss gen 5s Mar 1919
70 a 81 1884 " iooA
Itsl Gov IS Oct 1915 do Be Mar 1920
go @ ssE ees4Q 1904
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-18
Open. High. Low. Last.

Sales Open. High. Low. Last.
IS IS : :ff'PSs. 'S Gos. 81 5. SIS 81 81
500 500 'GsSs. RP% cS S1 81" 81" 50" 81"
5000 5000 :G GSlSfs5a M assi Y. s. "a fs
COCO tHargrayes Mig. f3 10 IL y
zoo zoo I Hees 4, Mining. ~ ~ 7,a ~
'5 .ss :} S:5d sJ 6 p 3 q 4 e q
1900 1900 Jumbo sST1f,R Ea t pr. 50" 90" SIS 90"
go! 700 ,fkewanas go. "a IL 10 1874
200 Iona 7 VI c. ~. ~. ~ ~.
1000 Louisiana Cons. 30 90 90 90 .
zoo MAGMA Copper. 47Da are ~ AZ
zoo 'fhagmatic c.. p n u Fl
6eoO fMagnate Cop. 81 IS SO IS
zo0O Marsh Min 81. 10 1914 10 10
1900 Myille Cd Min. 70 IN q III
l3VD Mason Valley. 5E ca 5Da SIS
asS SS - Mani Mani M " Cop en- e4 ,oh -
1900 Mohican Copper u "a "a "a
500 'Mojave Tung.. 81 Z, =, "
liVOv Monster Chief. "a 7. 81 +,
$500 'fMother Lode. 20 2s ~ %
$500 NAT 4 & L.. IS IS IS as
1900 N "a PR. Y, " I, =
1000 'Newray Mines. "a "a "a J.
zoo Nicklas Min. in Ia ~, fhr
oWy IVA EMMA u. ~ 81 81
300 Portland Cop. "a 2. a "a
200 RED War Min. !; u =
1900 Rochester Min. 81 es 81 81
1900 'Saera Val Cop. ia IA Ia 134
1000 'fSaga NJ CO.. IA IA "a "a
1900 Senorito Cop. ia 10 13l ~,
1900 Sill X OF Ariz e.. ~ y - 4.
600 Stand slid 90. "a "a !. a
$500 'iSucce.s Min 80 81 IS IS
1000 'fTemiskaming - ~ az az
200 Tonopah Ext .. 2H 21 2Ik 2A
1000 Tri-Builion .. 81 a "a ~,
2500 'TTroy-Arizo 80 30 90 80
1900 United Cop Min ., u u 2.
100 United Eastern. 4I "a AZ AZ
$500 stUnited Mag. 30 90 % 30
800 United NJ OF A. y, v . v
500 United Zine. A3z Az s.
1000 ~ Cont NJ.
$500 III Tung 90. 20 Il 10 20
$500 'fUtah Nat NJ. ga 2N 2ls pa
5100 'fVerde Insp. 3. 70 ~ 70 ~
300 West End Con. q % q %
1900 White Caps NJ. fH fn IL, w
zoo white Cross c. "a ~ ~ -
$500 fYer Mount c.. 81 ga So "a"
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-18

the spot situation, and the days trading In
futures amounted TO only $3.50 bags. The
market opened unchanged 10 points higher
and closed net / point higher TO points
lower. After selling at $40 early. July
eased of TO SIT. while December held around
=. al 4
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-18
Coffee, Sugar, Tea an
Cottonseed Oil

Coffee Futures-Th- restricting influence
Of war tax uncertainties was again reflected
in the coffee market yesterday. The more
or,imis,ic sentiment and activity noted in
IN. s,oek market and cotton trade failed 10
inspire any fresh speculative interest In
coffee ~Rle no fresh feature developed in
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-18
Methods Adopted
BY Great Britain
To Finance War

bore interest at g per cent, was issued
~ %, and these bonds were subject to
hI II is Of interest 20 note that out
of the vast total subscribed only lit
y. more than f29. 100000 called FOR
ins tax exemption.
Expansion Of Bank Credit
The effect OF this borrowing is reflect
90 IN the expansion of bank credit The
statement Of the Bank Of England on
Aprli !, 1917. as compared with April
1911, gives one evidence cf this in
Ration. Here are the figures:
Liabilities; APR g. 'l4. Apr. :. ~.
Circulation ..... f29.47f,OOO e3a,9Oo.oo0
Gov deposits. f9e30OOO 5O.l22,O0o
Other deposits. 42.330O0O 12s, 100000
Assets:
hes. notes and
coin ........ 25.ooo 600 34.234,ooo
Coin and bullion. 100000 100000
GOV. securities. ff.15t.ooO 1914, 900
other securities. 43.5Oo.0O0 f23,3o7 coo
Proportion Of re-
serve 20 lab.
per cent. 40.34 1912
4 combined statement Of the twenty
ssght Joint stock banks Of the United
hnedom on June 30, 1916, shows the
,oNowing increases. as compared with
suhe 80, 1914 "a month before war
broke out):
Liabilities:
Deposits ............... c206, 5000
Assets:
Vash in hand and in the
Bank Of England 72,611,OOO
",sstments .............. 1I/,oSS'VVo
IBIS enormous expansion IN bank
ss1eoit Is responsible for part Of the
nodities.
Issue Of Currency Notes
u was said az the beginning Of this
ePon that Great Britain has financed
psn OF the cost Of the war b. the -
ssssnee of paper currency. The BANK
England cannot issue notes except
stslhst gold. but the issue OF currency
ives may be increased without restrlc-
,'n When war broke out, IN order
Sneet the demand for small currency
~ government issued 81 and 10 shiil-
~ no,es, and these are payable on
TAAha IN gold at the Bank Of England.
80, issue OF these notes has been IN
*sed at he rate Of about 81 600, 900
.sek since war began. The increase
49,. circulation during the war IS
oy the following statement:
r., June 30, "a. Apr. 4, IT.
'ssk Of England
setes ...... f2s.ooo.ooo ssssooooo
"reney notes
tsold cover
sas,sce, ooN. :. - 3o.4s7.ooo
Ssss. Of private
sad Joint stock
'snhs ....... 100000 100000
zsea!s -.... so, 600. 900 s2os, ss7. 900