davidaulloa/AmericanStories huggingface dataset:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-07-15
Bank Reserves
Decrease Under
A Readjustment
Government Deposits Here
Show Big Decrease Dur
ing the Last Week

Surplus reserves Of the New York
Clearing House banks were reported
yesterday at only S3e,144,94o, whereas
in the statement issued by the Clearing
House the previous week they were fig
ured at s27S, 1890. This seeming de-
crease Of $242, 3OS. $50, it was explained,
has no bearing whatever on the status
of the money market, aside from cor
recting any false impression that might
have been created by the striking eX-
pansion Of the surplus indicated week
ago.
The change is a technical one, and ia
the result of the Clearing House As
ISOLATION figuring for the first time its
reserve requirements in accordance
with the amended Federal Reserve act.
In the previous weeks statement the
Clearing House continued to count the
cash in the member banks vaults as a
part Of their reserve, Notwithstanding
the fact that the law now requires that
the full 10 per cent against demand de-
posts should be in the Federal Reserve
Bank. The effect of the Clearing House
action at that time was to give the
banks credit for considerably more re-
serve than the law recognized, and was
responsible for the increase Of s173,-
63S,670 shown in the statement OF
July 7.
The national banks and members of
the Federal Reserve system, which are
also members Of the Clearing House,
have approximately S100,000,O00 cash IN
their own vaults, which has now been
eliminated from reserve requirements.
Aside from the change i'm the method
of figuring reserves, the chief feature
of the weekly statement was the sharp
drop in United States government de-
posts. Yesterday the Clearing House
banks reported they were carrying a
total of Sl56,6O9,0OO in government
money. This was a decrease of $l02,-
$4,000 from a week ago, indicating that
the Treasury authorities had with
drawn that amount during the week.
This was the explanation Of the furry
in call money rates, which rose from
2l2 to 5 y per cent last week
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-07-15
The Dollar in Foreign Exchange

Attention in the local foreign ex-
change market during the past week
was focused to large extent upon Rus
sian rubes and Spanish pesetas. Ru-
bles underwent substantial recovery
selling UP TO $3.50 cents in the middle
of the week compared with low rec
ord quotation of fortnight ago OF
2l.6O cents. The improvement was at
tributed to success of the Russion Of
fcnsive and other indications from
Petrograd that the new government is
getting control Of affairs in that coun-
try.
1t is not expected, however, that ru-
lie exchange will go back to its normal
value of 5l.2 cents until after the war
is over Russia's serious financing
problems were set forth last week IN
a report submitted 10 the Duma. j.
was stated that the country's gold re-
serve Of $3.50, 100000 covered only 1876
per cent of the paper money now IN
circulation in Russia. The debt at the
beginning Of 1913 was $4,000, OOO.oOO,
and at the beginning of 1917 II had
risen to Sl6.s00000,00 Adding the
paper money issued during the war 'Ne
total debt was estimated 70 be above
500 900. 100000 This is the principle
reason why rubles have deprecated
more than 80 per cent in exchange
value.
Spanish exchange was strong around
% cents despite reports that the gov
eminent might undertake a regulation
of the peseta market. a conference OF
foreign exchange me- held at WASH
ington lent color 10 the reports, but
subsequently it developed that nothing
was accomplished toward that end.
Moreover nothing is likely TO be Done
inasmuch as the complaint against the
high peseta rate has come only from
sterling rates were maintained at
the neg level OF around s4f5'7 ior
LIGHT drafts, while francs displayed a
fairly steady tone. ltal ian exchange
oased of on the week. Further snip
ments OF gold on japanese account
wsre announced, total exports oil the
metal to all quarters amounting 10
s2.ssi 900. ao,,s-
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-07-15
To Increase the Use of
Country's Navigable Waters

A resolution has been adopted by tho
Council of National Defence requesting
the United States Shipping Board to
construct and sell barges, towboats and
incidental marine equipment for use in
commercial service on the navigable
waters Of the country. The request is
based upon the present excess OF
freight 20 be moved over the amount
that the railroads can handle, and the
probability that the condition may be
further aggravated. The resolution
adopted is:
Whereas. The freight which must he
moved is greatly in excess OF the trans
pcrtation facilities of the railroads and
there IS a probability that this serious con-
dltion may be further aggravated ana
whereas. The nayigable waters OF the
United States are capable OF weiul SER
vice as water routes, a.lordng great re-
lcl 20 the land carriers and
Whereas There is a. this time scarcity
OF carriers on the said waters, Of the type
and class necessary. and it is now i'm
practicable for private parties 10 securs
tho construction of such carriers
Resolved. That we request the shipping
Board. whenever in their judgment Il -
wise 10 do So 20 construct and sell, AZ not
less than cost. 20 responsible parties ana
o. satisfactory terms as % payment
L-rCes. towboats and incidental marine
equipment for use IN commercial service
or the rayigable waters OF The United
States. 10 be ogerated By such private
parties In such services and on sucn routes
a. sill best serve the public needs ana
a.~ofi the greatest relief from freight con
rs.t.or. and as may he directed by me
government Of the United States during
tie war and after the var DO such ser
,,i.c. s.f On such routes as may % such
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-07-15
Profitable Year
Is Reported for the
D. & z. G. Railroad

A report Of the Denver & Rio Grande
Railroad Company covering operations
for 1916 was published yesterday. dis
closing total operating revenues Of $751;
LASS, an increase Of S2,S25,6s9 over
1915. Net operating revenues we're
placed at Sl0,5ss,l3l. an increase Of
$l,695,692.
Net income Of si.36i SEQ was equiv
alent to Sl92 a share earned on $4,000
shares Of common stock after allowing
for D per cent dividend requirements on
the preferred stock.
The report, with the changes from
1918 follows.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-07-15
Dividends

National Dividend Of 2 per cent
on The preferred stock and per share on
the common. both payable August 10 stock
holders OF record July 81.
Philadelphia Rapid Transit.-Semi- annual
dividend Of 2i2 per cent. payable July 81 10
stockholders of record July %. Six months
ago the first semi-annual dividend Of 2l2 per
cent was declared
Peoples Natural Gas and Pipeage. Regu-
lar quarterly dividend OF per cent, PAYABLE
July - % stockholders Of record July 20.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-07-15
China's Need of Railroads

Nowhere in the world to-day is there
-ors crying need for transportation
hal,.ss than in China. ALTHOUGH
s,rirr the Oldest civilization Of the
Trd. China" says The Far Eastern
s.rsr.n SIS furthest behind in the on
sa. march Of civilization in this par
essr respect. But the reasons for
x. condition are no. difficult 70 IN
.,r.s,d when we consider that the
=. republic is only just emerging
iiu- the shadows Of an ancient reign
M,. with superstition. arrogance ant
TER Indifference 20 the general wei
Are Of the people, into the light o.
-s:srn progress and development.
l',s3y great work has been accom-
;liied in throwing of the yoke Of tho
Ai;tsus. and the men Of China-those
ariois who brought this about-are
. ae congratulated upon their great
Eatss. It was an undertaking Of vast
i''i'r'lons-ioDg dreamed Of, but
Lied with 50 many obstacles that 4
s'-sd wellnigh hopeless and impos-
l'.s o. fulflment. But the work is
az ;fom finished, In fact il is not
Niy begun; for il is Of the greatest
'FTtarce ard Of the utmost urgency
's' The new Republic Of China be
f'n1ed wiki the means for develop
. It's important natural resources
- likewise with the means Of pro-
eng the country from dangers with
.r' without
iW ihouialds Of years the four
isd millions OF Chinese have lived
.al.y D. agriculture and many
- we're who starved while untold
.ssl wealth lay untouched nd un-
1920 throughout many sections
- country gold and silver and
-. minerals far exceeding even the
as Of svsrice.
vie mining is carried on AZ the
.n' i'fne IN various sections Of the
=. 'si - 4 crude and inefficient man
~. sss % The lack ~ transportation
g"si' there is no question that
49,. nines cen be made % produce
{. iortunes, from which not only
,.Fhsfs Of the mines but also the
-. .1I.1lhsnt ard the people az large
- pf'ht, = only transportation IA
49,. we're available. Al present the
49, 49,. o. such mines 90 usually car
~ coolies overland for a consider
..'ianee until stream ia reached,
n. mipments are made By boats,
"ng distance practically shuts OF
- zines from the outside world,
s-...Ie result that only small
49,, o. ne product ever reaches the
.. There is no doubt that
~, .lh'rs resources 81 China are
~. ',ss'' bur until fuch time az sdc-
~ a .t>shs % transportation are pro-
a, Mis great potential wealth Of
= s..'n vii remain locked UP and
~ value - the nation"
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-07-15
Sudden Drop in
Price of Silver
Domestic Market Is lnfiu-
enced by Decline at
London

Commercial bar silver broke = cents
an ounce to 1885 cents yesterday ioi-
lowing reduction IN the price OF the
metal in London. Local bullion dealers
were unable to explain the sudden DROP
although some interests were inclined
70 believe that the reported poiitical
orisi. in Germany and possibilities OF
o,rlv p,ace had something to do
a.i,h II Previous TO yesterdays de-
ei,ns silver prices had been climbing
s,nsd;Iv for a fortnight, the movement
eliminating on Friday when the meta
ia ., s64 cents here, the highest
nriees in twenty-five years.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-07-15

The reports to the American
Bankers Association come mostly
from small banks in the towns and
rural communities. Reading them
AZ a whole, il is clearly indicated
that the organization for the promo
ton Of the sale Of Liberty Loan
bonds was confined largely to the
cities and larger towns. In the
country the operations were left to
The bankers, who gave all the time
they could, but were usually without
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-07-15
Liberty Bonds go Lower

Further selling Of Liberty Loar
bonds on the stock Exchange yester
dav broupht their price down 70 new
Io.y record. Lots Of 5000. $500 and
$500 sold ut 90 $3.50. OF depreciation
IN n 500 bond Of so cents. Later lot'
eyceeding 81. 900 sold at 30 ALSO. JUS
before the close $500 bond sold a
90. / point under par.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-07-15
: N'ooer Exports from Brazil

b.. Nsi exports Of crude rubber
y. 'Na ard Nansos. Brazil. during
-. W. amounted 20. 9,2i8.S9B
60. compared with 78l4s2g
-. i'r ne same month In 1916.
az, 49,, ~. 70 me United States sggre.
IN ~ SVhis pounds and % Europe
Nm pounds, compared with 3.
rssl, aho Ih50g0l pounds, regpse.
lxtsla 49, year There we're no ship
'"'m iiaeDatlrs. Brazil.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-07-15

in terms Of foreign money-that is, as
if you were buying dollars with pounds,
marks or francs-its value at the close
Of last week, as compared with year
ago. would be about as follows:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-07-15
News Digest
Elections

B. VI. W. Hanson, formerly general
manager Of the Pratt & Whitney Com
pany. has been elected cepresident
and general manager of the Colts
Patent Fire Arms Manufacturing Com
pany. TO succeed +. c. Chadwick.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-07-15

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.
II.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-07-15
Relevant Facts
,roric.n Water Works and Electric

American Water Works and Electric.
- Stockholders at special meeting
Yesterday. held in Richmond, Va, au-
thorized the increase in the maximum
capital stock from $25,00O,oo0 to 500
600. 900. This increase is to be IN first
preferred stock as part Of the com ,
pany's plan for the funding Of back
d;vidends 70 the preferred shares.
Chile Copper-June copper produc-
.;on ~ this company suffered heavy
Decline 5,oi ne compared with recent months 665
o o1Sl Ou appainst s.25O,OOO pounds in
PounDS o5s 600 in April, s,714,000 IN
March. and compares with 8'6lo'ooo
nroduced in June, 1916.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-07-15
Current

foreign money in terms OF the Amer,
"a, dollar. You buy an English pound
sterling AZ. say. Sl.7js.. The intrinsic
nsritv is si.ssss per pound. Thus, you
saw either that pounds are at dis
count or that dollars arc at a pre-,
MUM. which is owing to the fact that
in England the demand for dollars
with which 10 settle accounts in this
country is greater than the demand IN
tbis country for pounds with which 70
settle accounts in England.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-07-15
Yesterday.

Below is given the current exchange
value of foreign money IN dollars ana
cents. together with the intrinsic sold
parity, as calculated by the united
Sfafes Mint:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-07-15
Consolidated Exchange

limit Of trade on this exchange. 10 shares. J
transactions and prices yesterday for ths
moro active stocks follow
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-07-15

Federal Reserve Banks

Washington July Federal Reserve Bank for the week
week The weekly
of resources liabilities
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-07-15

London Money Market-L0ndon, July
.14.-Money ruled at 3i2M4 per cent.
Discount rates Short bills, "A per
cent; three months bills, 1916 per
cont
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-07-15
Telephone Earnings
Show Large Gain
Operations of Bell System for
Five Months Result in $685.
2OI.o32 Net Revenue

Heavy increases in operating reNe-
nues and expenses are reported b. the
Bell Telephone system for the five
months ended May 81. The system en-
braces the American Telephone ana
Telegraph Company and associated
companies in the United States.
Total operating revenues for the five
months aggregated Sl2O.O77S25, COM
pared with $lO5,5oOl2S in the CORE
spending five months Of 1916 Total
operating expenses were $80,s75,s93,
against s69.144,2t7 year ago. Net OPP
Grating revenues were S39,2Ol .932' COM
pared with S36,S55.9ll in the CORE
sponding five months of 1915. Gross
income after taxes was S3i,54o,5ll,
against s32,751,5l0.
The report shows that the system
owned 20.s70,194 miles Of wire on May
81, compared with lS.905.2l8 miles a
wear ago. Total telephone stations
numbered 1O,256,O6s. against 9,463.S0O.
Net earnings Of the American Tele-
phone and Telegraph Company for the
six months ended June 30 last amount
cd 10 s24,767,34S, compared with ST.
45S.S74 in the first half of 1915. The
statement compared with 1916 follows;
Earnings: l9lI. ~ o..os
Tptorca. and other
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-07-15
Money and Credit

New York Clearing House Statement.
The weekly report was as follows:
The Lakeland evening telegram., 1917-12-13
Revealed Secrets
OF The Zeppelin

from which Zep-sent message IS
received. A message from the L-49.
for instance, would be Simultaneous
ly received by two widely separated
high powered stations in Germany.
These latter stations would then get
in wireless communication them
selves, and, by simple computing OF
distance by angles, determine almost
the precise location of the signalling
Yep. This position, in terms of lat
itude and longitude, one Of the sta
tions then would wireless back to
the operator on the L-49, who could
thus direct his course regardless Of
fog or height or any uncertainty
from breakage of instruments or
weather obscurity.
Scores of Ally designers and engin
GERS are minutely studying the en-
tire structure of the L-49 now.
The Lakeland evening telegram., 1917-12-13

Some of the aerial secrets of the
Kaiser's Zeppelins revealed by the
capture intact of the Lac at Bour.
lbonne-les-Bains in France have now
reached this country. The French
censor did not permit detailed or
technical descriptions of the giant
raider to reach the press, but Brio
ish and American expert observers
were invited by M. Dumesnil, French
Under-Secretary for Aviation, to ex-
anime the German craft, and through
English sources some of the secrets
of construction which they learned
are now reaching the ears of Ameri-
can experts.
One of the most notable things di-
vulged by the capture of the Lao
was the extreme shortage of rubber
in tie Central Empire. Until recent
ly the Zeppelin gas bag, 1t has been
known, was made of rubberized fab
ric. The gas bag of the Lac is made
entirely of linen fabric and gold
beater's skin, more difficult to fash
ion and normally more expensive
than rubber.
The length of the L-49 is 755 feet
and it's largest diameter 115 feet.
TIL, envelope is dyed black, with
mixture of cellulose acetate contain.
ing aniline, in order to promote in
Visibility by night The upper part of
the bag, however, is vanished
white-a cloud Stimulating camou-
fage to deceive airplanes overhead
The mean speed, experts estimate,
was from SIS to 60 miles an hour. A
height recorder among the instru-
rents registered approximately 90.
OG0 feet and from statements Of the
crew it is known that the airship was
at height of $1,000 feet when l..
encountered sudden violent north :
east wind which drove it from its
course
The number ''L-49" is painted in
immense white characters well for
ward on the gas bag; on the stern an
immense iron cross is delineated. The
airship has four cars, each of them
containing one motor, and one con
tanning two motors and two sets OF
steering gear.
: Perhaps the most interesting fact
about the Lag which has reached
wireless equipment. The wireless in
lstallation is extremely highly devel
cped 1t is of the Telefunken type
capable of sending wave lengths o
from 1000 to more than 5000 feet
} The antennae. 400 feet long, are sus
pended from the craft.
More interesting than the high de
ivelopment of the apparatus. however
} is the scheme of Zeppelin guidanc
from Germany. Before the war, as |
known, Germany was literally dot
ted with high powered wireless sts
ttions BY suitable reciprocal ar
lraneement of the wireless apparatu
of the Lao and that of the othe
German raiders and of the chief Q
/ the high powered wireless stations 1
I Germany, II is possible for the lat
= ter. according to the crew Of tn
I-fg, to tell within a very sma
I margin of error the exact directio
The Lakeland evening telegram., 1917-12-13
TRIED TO KILL" ME

sometime ago l was III ouupteT |
county. l was selling something.
At house where l was, there came
a boy from a neighbor home a short
distance away. He took great in
terest in the article I was selling,
said he needed it, and would ask his
father for money to buy 1t. So l
W ent with him over to his house to
give him chance. His father was
MT there, but the boy said he would
mother | would wait some. l sat on
the porch for about twenty minutes, |
when the woman, who had gone in
side sent word out to me by the boy.
saying that he could not have the |
article. l said, "all right" and |
walked a half mile down the road to
little village to stay over night.
Down there reached for my watch |
+, t. see what time it was but it was
gone. remembered that looked
at the time-piece at the house where
I stopped before L went to the boys
home. Therefore | went over the
ground between that house and the
town early the next morning looking
for my valued watch. AS the boys
home was within my hunting ground,
I stopped there to inquire about the
lost article. paused at the fence be-
fore going around to the front gate,
! because I saw the boy and other
children at an open window, and
they saw me. l overheard the bow
tell his father, inside, that mar.
{ wanted to see him outside. waited
there for some time and no one came
in sight to speak to me- Then |
called out. why don't you speak to
: me: Am l ID nigger?" Immedi-
. ately the man sprang to his feet, ex
. claiming, "I'll fix you!" He rushed
8 ,tut the other side of the house
= came around the end, where he
: picked up long, narrow board, say.
ing. "I'll kill you!" Got over the
g fence and came at me- When he
+ raised the board to bring it down on
{ my head, l took step forward. and
n it missed me, grazing my elbow. Then
: he made another swipe at me, and
q the board grazed my other elbow
il which is sore from it yet.
n | told him about losing my watch
and he answered, Il haven't got 1t.
Rut ] believe he had it, that h,
thought if I stayed around the hous
or came up to it l would in som
way find this out; perhaps, that on
of his children would say somethin,
which would give me the truth.
I That mans eyes blazed with al
| the rage and wickedness of demon
j reminded him before walked ava
! that he had called me the foulesi
meanest name that a man ever ap
Y Piled to another. He replied, "I don
care"
q Low, brutal, brainless, hellis
: human wretch! He has the qualitie
of mind and disposition possessed b
the people who populate the inferno
region. The chief difference betwee
him and them is he is on this eartl
When man loses control of h
temper and his tongue he is then
fool and a mad -man-in palmer lar
guage, insane. till he RECEIVERS con
mand of himself But before he doe
recover, the acts and words he speal
sometimes are very unfortunate, o
ten awful, complete loss in ever
way for himself and for others. Sci
control, will power, humanity an
moral principle should command e
cry act every minute. They are prize
less gems for man, woman and child
Pine Bluff daily graphic., 1917-12-23
CHRISTMAS, AND THE HATE OF
 WAR,

This Christmas, above all others there is need for the Christ-like atti- tude of compassion and brotherhood.
 The nations are locked in a life-and- death struggle. Though democracy and autocracy are at Armageddon the teaching of the Christ against per sonal hate and passion even in war has to considerable extent been fruitful
 We are not hating the individual en- emy so much as his principles and what he is fighting for.
 Christ taught us to hate the devil and his works, and so long as the evil aims and ambitions of the rulers of our enemies prevail over the peoples in their power, our Christian hate rightly is aimed at their principles, aims and ambitions, while we have nothing but sympathy for the poor deluded fellow Christians who are sac riticing themselves for the perpetua- tion of the antocracy against which we are fighting.
Pine Bluff daily graphic., 1917-12-23
NOTABLES BORN THIS DAY

Gustave Ador, who is regarded as Switzerland's foremost citizen ant statesman, born 72 years ago today.
 Oscar s. Straus, eminent New York merchant, diplomatist and former cab inet officer, born in Georgia, 67 years ago today.
 Giacomo Puccini, composer of "Ma- dame Butterfly" and other popular op eras, born at Lucca, Italy, 59 years ago today.
 Edwin T. Meredith of Des Moines, q leading figure in the midwestern farm ing and financial world, born at Avoca Iowa. Al years ago today.
 James B. HAswell, representative in congress of the Eighth Louisiana dis trict, born in Jackson parish, Louis jana, AS years ago today.
 Dr. John H. Worst, president emeri- tus of North Dakota College of Agri- culture, born in Ashland county. Ohio 67 years ago today.
 Connie Mack, manager of the Phil adelphia American league baseball club, born at East Brookfield, Mass, 55 years ago today.