davidaulloa/AmericanStories huggingface dataset:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-10-31

1t is evident little new corporate
financing is to be attempted in the
interval between the second and third
Liberty Loans. Indeed, it is improb-
able that activity in that section of
the capital market will be witnessed
while the war goes on. One reason
is that the cost of capital is so high
few corporations can afford the lux
ury of borrowing. Only those whose
needs are imperative would think of
paying the rate which is now neces-
sary to secure funds. Another is that
corporations engaged in work not es-
sential to the prosecution of the war
may be practically barred from the
market. Announcement by the Ma
tional City Company that it "will
not be involved in any financing that
will not help the war" is the first
step in that direction. Other large
financial institutions should take a
similar stand. 1t has been said that
the man who is not for the country
il against it, and that saying might
also apply to industry. The industry
which is producing things which the
country can do without during the
war must be discouraged, because 1t
is utilizing labor that should be de-
voted to the production of essential
things. The British Treasury has
been exercising strict control over
new capital applications for a long
time in order TO leave the market free
for government financing and to curb
expansion Of non-esSential produc-
ton. The rightly of its restrictions
on new issues may be judged from
the fact that in the first nine months
of this year only S95,O00,00O of cor
porate and municipal securities were
floated in Great Britain, whereas in
the corresponding period of 1918
such flotations exceeded S750,000,000.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-10-31
Figures About as Expected

Earnings for the last quarter were
about in line with Wall Streets expecta-
tions. Preliminary estimates had put
the net earnings Of the corporation be
made for the slackening of activity in
the business of the corporation during
the summer months when the steel
price-fxing matter was in the making
UNIFIED orders oil % inc steel corpora
on June 80.
Assuming that the corporations
quarterly allowance for Federal war
taxes averages s6O,O00.OOO, the total of
the tax per year will approximate
0,000 600.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-10-31
Other Cities
8 CITY Charges Discrimination

Kansas City Charges Discrimination
on Livestock. WASHINGTON. Oct. 30.
The Kansas City Livestock Exchange
to-day petitioned the Interstate Com
merce Commission to compel the Chi
cago. Burlington & Quincy Railroad to
establish and maintain 'non-discrimln-
atory livestock rates from points on
its line north and west of Lincoln, Neb,
to Kansas City"
The exchange also requested the COM
mission to require the railroad 10 es-
tablish rules and regulations permit
ting the privilege of trying the mar
ket" on livestock shipped from points
west Of the Missouri TO destinations
east of the Missouri River. and TO put
into effect new rules covering the trans
portation OF caretakers accompanying
livestock. The exchange charges that
present rules in this respect discrim-
mate against Kansas City in favor Of
Omaha and South Omaha.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-10-31
Committee to
Watch Money
Rates Continued
Funds Pooled by Local
Banks Stabilize Market in
War Loan Operations

The special money committee ap-
pointed by the Liberty Loan Committee
to keep close watch of the money mar
ket and to see that legitimate borrow
ers were promptly supplied at fair rates
of interest during the Liberty Loan
campaign just ended will be continued
in existence indefinitely, according to
an announcement made yesterday By
Benjamin Strong, governor Of the Fed
cral Reserve Bank of New York and
chairman OF the committee.
Continuance of the committee, Mr..
Strong said, would be IN the interest
of future government financing and or
business generally. To enable the COM
mittee 20 act effectively approximately
s200,000,000 was pooled By the banks
and trust companies of this city and
placed at its disposal. About half Of
this sum was actually utilized to sta
biize the money market. More was
not needed, owing to the strength OF
the financial situation here.
Loans Freely Made
"Throughout the period Of tho second
Liberty Loan campaign" Mr.. Strong
said, merchants and manufacturers had
been able to borrow freely from their
banks Of deposit There was free
movement of commercial paper in the
open market. collateral loans were
taken for periods ranging from sixty
days TO six months IN aggregate
amounts sufficient to relieve any ten
sion that may have existed in the time
money market, and there have been
throughout ample supplies OF call
money at rates fuctuating from per
cent to 2i2 per cent.
"The money committee representing
the banks and trust companies and act d.
ing for them did valuable service, anG
used only about one-half OF the fund
originally made available to it, while
much larger fund would have been
subscribed if required.
Banks Utilize Reserve System
"The concentration of the reserves
of the rational banks, and now, happily,
of many important trust companies ana
state banks, in the Federal Reserve
Bank provides reservoir OF credlt
available to member banks which ! am
assured they will freely use as needed
and which, TO their credit may IL be
said, they have alrady freely ayailed
Of"
The members OF the money committee
are: BENJAMIN Strong, chairman; James
! s. Alexander, president National Bank
+ of Commerce; George F. Baker, presl-
dent First National Bank; Walter r.
Frew, president Corn Exchange Bank;
/ Gates ". McGarrah, president Mechaan-
| les and Metals National Bank; Charles
/ n. Sabin, president Guaranty Trus;
Company; f. A. Vanderlip. president
National City Bank; James n. Wallace,
president Central Trust Company, and
! Albert II. Wiggn, chairman, board OF
directors, Chase National Bank.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-10-31
Tuesday, October so, 1917

Wall Street again suffered an at
tack of nerves such as was largely
responsible for the sharp break in
prices a fortnight ago, and as a re-
suit the market was rather severely
tested. Almost from the beginning
the market was under the influence
OF liquidation and professional SELL
ing, induced by the Italian crisis, and,
later on, by the temporary suspen-
sion of the Montreal and Toronto
stock exchanges and the fixing OF
minimum prices for stocks dealt IN
on those markets. When the news
reached the Street SPECTATORS imme-
diately conjured up visions of similar
action here, and at once dumped their
holdings. Later in the day, when it
was realized that the action of the
Canadian exchanges was without re-
lation to conditions obtaining here,
Spectators began to buy stocks
again, and prices moved sharply up
ward. The net losses on the days
trading were not important in most
cases, though a few of the moro
volatile speculative issues closed
from 2 TO 8 points off. There
was really little foundation for
the scare induced by the action
of the Canadian exchanges. 1t
happens that the leading stocks dealt
ir on those markets, notably Cana
dian Pacific and International Nickel,
have shown great declines recently
1t is probable that speculative buying
of these and other issues had been
overdone, so that when the declines
reached a certain stage speculative
positions were imperilled and panic
threatened. This may not be the
right explanation, but in the absence
of better one it was widely accepted
in the financial district. Certainly no
such condition exists here. The mar
ket has sustained the most drastic
liquidation it has ever met, and the
only speculative positions on the
bull" side are those assumed from
day to day by professional traders.
There was some disposition in the
Street to comment unfavorably on
the quarterly statement of the United
States Steel Corporation, owing to
the reduction in earnings compared
with the preceding quarter, but all
things considered the report was
really a highly favorable one. y
large part Of the corporations out
put must have been delivered to the
government at prices much below the
average received in the preceding
quarter, and some of it was probably
delivered at the prices fixed by the
War Industries Board. Yet the net
earnings before deduction of taxes
were only S12,O0O,O00 below those for
the June quarter. After deductine
all charges, including S63, 100000 fol-
taxes, there remained $43,00O,0OC
available for dividends on the com
mon stock, which is at the rate OF
about 80 per cent annually. 1t /;
probable that the earnings for the
common this year will be quite as
large as they were last year-that is
nearly 30 per cent.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-10-31
New York

New Saxon Motor Note lssue.-lt was
announced yesterday that this company
has made arrangements to issue $780,
COO ten-year s per cent notes. the pro-
ceeds to be utilized in completing the
plant in Detroit, work on which was
halted few months ago. On Novem-
Der the company will pay q 10 per
cent instalment on its debt TO cred
itors; another 10 per cent on February
l.. Officials of the company hope that
By August |, 1918, the creditors obliga-
tions will have been liquidated.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-10-31
Dividends

Union American Cixar.-Resular quarter
~ dividend of J per cent on the preferred
stock. payable November 10 to stockholders
Of record November |.
Inland Steel.-Regular quarterly dividend
OF 81. payable December l TO stockholders OF
record November 10.
American Graphophone. Regular quarter
~ dividend of -, per cent on the preferred
stock. payable November 10 to stockholders
Of record November /.
Whitman Mill.-Quarterly dividend OF So
and extra of 50 a share. payable No
vember j., TO stockholders of record Novem-
Der 6.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-10-31
Current

The above rates express the cost o.
foreign money in terms Of the Ameri-
can dollar. You buy an English pound
sterling az. say. $4.75is. The intrinsic
parity is S4.s6s per pound. Thus, you
say either that pounds are at discount
or that dollars are al premium. which
is owing 10 the fact tina. 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. [volume] (New York [N.Y.]) 1866-1924, 1917-10-31
Complies With Revenue Bill

The directors added S12.716,724 to
their allowances made for the first half
of 1917 for war income and var excess
profits taxes, to comply with the rev.
cnue bill as fiji ally passed. This re-
duced the surplus for the first six
months of the current year to s59,1S7,-
993. The surplus last quarter, after
dividends, amounted to SCI ,S24,554,
making the total surplus for the nine
months ended September so, $780,
562.547.
Before deducting the war taxes in
The March, June and September quar-
tiers the record Of the Steel Corpora
TONS net earnings by quarters would
compare as follows:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-10-31
News Digest
Foreign

London Stocks Unsettled.-LONDON,
Oct. 30.-The weekly war bond sales
were smaller, at s14,OOO,O0O. The stock
market was still apprehensive regard
ing Italy. but was less depressed. ltal-
ian exchange was 1906, against a nor
nal of 25.22. Prices of British secur-
tiles occasionally were firmer. In other
directions the market was harder.
Spanish, Russian and Scandinavian
bonds made good showing. Kubbers
and Argentine rails were better on re-
purchases. American stocks were easy.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-10-31
War Taxes Take
About Half of
u. S. Steel's Net
Extra 3 Per Cent on Com.
mon After $63,733,013
Is Set Aside

The United States Steel Corporation
earned s6s,243,7S4 net in the three
months ended September 30 last, after
allowing s63,733,O13 for account of war
income and excess profits taxes. These
figures were made public yesterday
after the meeting of the board OF di-
iectors, at which an extra dividend OF
per cent. the same as in the two pre-
ceding quarters, was declared on the
sos ,3O2 800 of common stock, in addi-
ton to the regular quarterly dis
hursement Of II. per cent. The direc'
tors also declared the regular quar-
terly dividend of ~ per cent on the
preferred stock.
In the June quarter, the preceding
three months period, the corporation
reported net earnings of s90,57e,2O4,
after allowing s53,91S,S72 for war in
come and excess profits taxes. Before
deducting the extraordinary war taxes
the Steel Corporation in the September
quarter earned total net Of $751;
g76.797, as compared with s144,49S,016
in the June quarter. This drop of ap-
proximately 100000 in net earnings
for the September quarter reflected the
slackening tendency noted in the iron
and steel industry during the summer
months, while the trade was waiting
on the government TO make known its
price fixing programme. The full eff
fects of the arbitrary prices fixed by
the government were not felt, owing TO
the fact that they were not announced
until late in the quarter.
Peak Reached in June
Monthly comparisons of earnings
show that the peak was reached in
June. In that month net amounted TO
$3l.2S4,562, after allowance had been
made for the war taxes. In July, the
first month cf the September quarter,
net after taxes fell to SO, 76O,GGS In
August they rose 20 s23,54S,725, but
dropped of again in September TO
S2l,934.39l. Allowance made last quar-
ter for depreciation and extraordinary
replacement funds and sinking funds
on the bonds Of the subsidiary COM
panies was 81 ,159,s43, compared with
Sl4,347,399 in the June quarter. The
balance available for dividends. after
all charges, including taxes. interest,
depreciation, etc, was s49,732, 1923, COM
pared with SOS, 1888 in the preceding
quarter. The sum required TO meet
the dividends on the common and pre-
ferred stocks was the same as in the
June quarter. The extra dividend OF
3 per cent on the common called for
I Sl5.249,075. the regular of | 4 per cent
on the common, s6,353,7Sl, and the reg
ular of ia per cent on the preferred
I S630Jal9
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-10-31
Money and Credit

Call money ruled unchanged at the
Stock Exchange yesterday at per cent.
The supply Of fixed date funds con.
tinued 10 be restricted by the banks,
but rates showed no important change
from Monday. Loans against indus
trial securities were quoted yesterday
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-10-31
Toronto Exchange Also
Decides on Minimum, Prices

TORONTO, Oct. 3O.-The Stock Ex-
change here, following the lead of
Montreal, to-day decided upon min
imum prices for trading, based on last
nights closing figures.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-10-31
Yesterday. Year age
Commercial Paper. - T

Commercial Paper. - This market
continued dull yesterday, with the best
four months paper holding firm at 5'a
per cent. The rate for six months
maturities was So, per cent.
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, 1917-10-31
Week

Below is given the current exchange
value Of foreign money in dollars and
cents, together with the intrinsic gold
rarity, as calculated by The United
States Mint;
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-10-31

Paris Bourse-PARIS, Oct. 5o.-
Trading was quiet on the Bourse TO-
dav. Three per cent rentes. 81 francs
for cash. Exchange on London -
francs Is confines. Five per cent loan'
So francs 70 centimes.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-10-31

Sub-Treasury.-New York banks lost
TO the Sub Treasury S27l,0OO.
Silver.-Bars in London, 46d, an IN
crease OF Sd; New York, 90asc, up
57sc: Mexican dollars, 69c, an advance
of &c.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-10-31

at 5I2 TO So. per cent for all maturi-
ties.
Ruling rates for money yesterday,
compared with year ago. were as fol-
lows:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-10-31

London Money Market.-LONDoN'
Oct. 3O.-Money was in good demand at
4 per cent. Discount rate: Short biliS.
At. per cent; three months bills, 4"'
per cent. Gold premium at Lisbon
on
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-10-31
Corporation Returns

Southern Railway
The Glenwood post., 1917-06-16
THE NATIONS NEED

The response that is being made by
the people to the Liberty loan is both
inspiring and encouraging. Individuals
and corporations alike are subscribing
generously, among the first of the lat
ter being the National Biscuit company
which took half million dollars of the
fought for and to make the world safe
for democracy tho Liberty loan must
be made great patriotic success, for
the future peace and security of the
world are in the balance. Here is real
opportunity to help the nation. Now
is the time for all good men to come to
its aid.
The Glenwood post., 1917-06-16
BUYING LIBERTY BONDS Is
NOT AN ACT OF CHARITY

When you buy United States Liberty
War bonds you are not giving away
anything. Your act of purchasing is
not an act of charity. Whatever money
you have you possess because you have
lived and worked in the glorious Unitel
States. Today the United States needs
ready money to help win the war, to
provide food, clothing and transporta-
tion for our soldier boys. So our gov
ernment says to you: "Loan us $50
or 800, or whatever amount you like,
and we will pay you 3k per cent annual
interest payable every June Is and
Dec. 15), and in addition to that ws
will pay you back the entire amount
you lent us. Also, if the interest rate
on our bonds goes up, we will advance
your interest to the highest rate.''
That's the fair, square proposition.
You can't lose. The United tSates
helped you get what you have, and it
is both patriotism and good business on
your part to loan the government some
of your money now. Order United
States Liberty bonds from your banker
or your brcfcr. Do it today.
The Glenwood post., 1917-06-16
STATE UNIVERSITY HEAD WILL
FIGHT T. B. GERMS IN FRANCE

DR.. Livingston Farrand, president Of
the state university at Boulder, has
been appointed by the Rockefeller
Foundation to proceed at once to France
with corps of assistants, and take
active leadership in the fight against
tuberculosis, which is ravaging the war
stricken land. DR.. Farrand for many
years. was secretary of the National
Association for the Study and Proven
tion Of Tuberculosis and is considered
one Of the most thoroughly informed
smen in the country on that subject. The
Foundation has appropriated 100000
to cover the first expenses of the work
and will advance more when additional
funds are needed. DR.. Farrand has
been granted q years leave of absence
by the university authorities to permit
him to enter the work at once. Mrs.
Livingston Farrand has rendered her
resignation rs chairman Of the Boulder
chapter Of the Red Cross, because Of
her intention to leave Boulder with DR..
Farrand for France to aid in his health
work there. Clara IL. Alden has also
resigned as secretary of the local chap
ter on account of her contemplated ab-
sence from Boulder during the summer
months, whic. she is planning to spsnd
in Massachusetts, News.
The Glenwood post., 1917-06-16
HARPER CONCERT PARTY.

There are as many different kinds Of
music as there are weeds. Everybody
enjoys music Of some sort or other
Some enjoy distinctly classical must.
because of their thorough education
along these lines and because by thar
education they are enabled to eappre-
c1ate the technique and rendition Of
the more difficult numbers. On the
other hand. there are those who have
not been so fortunate, but who enjoy
the rhythm and melody Of the more
simple pieces, so that there Is place
on the chautauqua program for th~
popular numbers and a place also for
the classical ones.
The Harper Concert Party will please
all music lovers in each distinct class.
They play classical music as only the
The Glenwood post., 1917-06-16

number.
Six times six equals SO plus equals
AZ months.
Also note that when the kaiser start
ed the war he was IS years and 6
months old-666 months, which again
fixes the kaiser number. Having es-
tablished this fact you will be inter-
ested in reading from the thirteenth
chapter of Revelations the 4th, 5th and
18th verses:
4-'And they worshiped the dragon
which gave power unto the beast; and
they worshipped the beast, saying:
"Who is like unto the beastl Who il
able to make war with himi" 4, -
5-"And there was given unto him
. mouth speaking great things and
blasphemies, and power was given unto
him to continue forty and two months. v
Here is wisdom. Let him that
hath understanding count the number
of the beast; for it is the number of a
man and his number is SIX hundred
three score and six" (868). h'''- i'
War started in August, 1914, plus ~
months, brings you up to February,
191s.-St. Paul Press.
The Glenwood post., 1917-06-16
PROPER BERRY HIGH ALTITUDE

Three years ago J. L. Salladay OF
Arvada, Colo, started with one dozen
Progressive Everbearing strawberry
plants. Today he has $4,000 on his
truck farm in the Clear Creek valley,
all produced from the original planting.
He is furnishing q part of the thous'
ands Of plants that are being shipped
out by Western Farm Life to subscrib-
ers who have taken advantage Of the
subscription offer Of Is plants with u
for one year, 4s plants with $3.50 for
a three. year subscription, or so plants
with &s for three years, and 12o plants
with S5 and five.year subscription.
Mr.. Salladay has found this variety
a success under irrigated conditions in
Colorado, at an altitude Of over 5000
. feet. Last season from 1000 plants set
out about May LIST he took in $3.50 dur
ing the season, his berry sales begin
ming about July Is and continuing un-
til the first zero weather about the
middle Of November. The fall SHOWS
did not stop the production Of fruit.
Not until the ground froze hard did
the plants cease growing.
The following advice is given by Mr.
Salladay to those receiving plants this
spring:
"set out the plants Immediately on
receipt as there is no danger now Of
the ground freezing. Set them a. deep
o they have been set and be careful
not to cover the crown. Pour watez
int the holes In which they ere vt, 10
The Glenwood post., 1917-06-16

true artist can play 1t. They do BOT
attempt to render unpopular musk
upon q popular program, but they IN
der their entire program in such . na.-
ner that all are delighted.
Mr.. Earl Harper, who Is manager
and director of this company, IL 4 nan
who has educated himself. When s.ly
. boy be had the ability r. capture his
audiences with his solos, rendereA IN
church rchoirs and Sunday School CO.
ventions, and a. he grew and dsssR
oped be was continually sought ans
implorsd to enter the concert 1ssa.
Only recently was he finally prevails6
upon to arrange q company Of artist.
for concert work. and his selection os
the artists has meant an unprecessat.
ed success from the start "a
Their program will be given during
the third day Of the Chautauqua.
The Glenwood post., 1917-06-16
PILES, PLIES PILES

Williams Indian Pile Ointment will
cure Blind, Bleeding and Itching Piles.
1t absorbs the tumors, allsys itching At
once, acting as = poultice, gives instant
relief. williams Indian Pile Ointment
is prepared for piles and itching Of the
private parts. Sold by druggists, mail
SOC and $1.00. Williams Mtg. Co.,
proprietors, Cleveland, Ohio.
For sale by W. 8. Parkison, druggist
and pharmacist.