davidaulloa/AmericanStories huggingface dataset:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-01-12
RUSSIAN BONDS,
UNSUPPORTED,
SLUMP BADLY
Decline of 81a Points Fol
lows Dissolution OF
Syndicate

Dissolution yesterday Of the syndi-
cate which underworld s25,00O,oOO Rus
sian Government fvc-year 5h per cent
bonds, and had an option on s25,OOO,OoO
additional. was followed by a sharp
break In the issue on the curb market
The bonds, which closed at e4'5 on
Wednesday, sold as low as &c. and
ended the day at 90. a net loss Of AZ
points.
Bankers who participated in the pub
lie Offering Of the bonds last November
explained the sharp decline az being
PARTLY the result Of the withdrawal OF
banking support During the life OF
the underwriting syndicate the market
had been sustained, among other rea-
sons because OF the fear that the recent
warning Of the Federal Reserve Board
against short term foreign loans would
lead timid holders TO unload their
bonds. A banker connected with the
syndicate said yesterday that tho bonds
would now be allowed to seek their
level"
Recalls Former Episode
Tho break in ths Russian Issue re-
called the decline Of the Anglo-F'rcnch
bonds on the termination Of the sixty
day syndicate agreement In December
1915. Though tho syndicate had pledged
it's members to make no sales at less
than 90, in the week before the disso-
luton "seler thirty" transactions were
made on the Stock Exchange below s5,
and by December 20 the price had de-
clined TO 93%. On yesterdays break
in the Russian issue transactions
amounted to 100000.
The Russian Syndicate managers
were ]. P. Morgan & CO., the National
City Company. the Guaranty Trust
Company, Lee, Higginson & Co. and
Harris, Forbes g. Co. OF the bonds un-
derwritten 100000 was left on the
hands Of the syndicate members.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-01-12

The railroads are themselves
partly to blame for the fact that
they are suffering from the high cost
of living. Wages constitute factor
in operating costs which are, Of
course, mostly beyond their control.
When labor is scarce, they must
compete with other industries for a
supply of unskilled workers, while
they have yet TO win a wage con-
test with the Brotherhoods. But
the purchase of equipment is a thing
over which they have direct control,
and they do it unintelligently. Lack
of foresight in purchasing supplies
is not confined TO the railroads. In
deed it seems to be pretty general
failing in this country. 1t is the
railroads, however, which suffer
most from this trouble in such times
as those which we are now expert
encing. Business cycles are more or
less constant. Sooner or later a
period Of depression must be fol-
lowed BY one of prosperity, the ex-
tent of the one being largely re-
Election of the extent Of the other.
But when we have prosperity the
railroads, though chronically pes
simistic in thought, or in utterance
at any rate, seem to act on the
theory that it will always be with
us. And they can never see the end
Of period Of adversely. One might
suppose that the railroads, directed
as they must necessarily be by men
OF more than ordinary intelligence
and executive ability, would show
wisdom in purchasing equipment.
Bat apparently they don't, or if they
do it is only in isolated cases. OBJ
viously the ideal time TO put equip
ment and plant IN good shape to
meet the heavy demands which fall
upon the roads in prosperous times
is during the period of depression,
when prices are low and deliveries
can be had within a reasonable time.
But equisn orders are nearly al
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-01-12

the Sub-Treasury from Canada yes
terday for the account OF j. p. Morgan
a Co. This brings the total arrivals OF
the week and since the first OF the year
I'd TO ;49,44o,OOo. Total imports from
all sources since January ], 1915, now
amount to ;t,Is1,7iO.ooo. the bulk OF
which has been shipped here on Brit
ish government account. Additional
,hipments from Canada are expected.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-01-12
Thursday, January II, 1917
WALL STREET OFFICE:
Mills Building, It Broad st.

Although the press Of freight in
many sections Of the country is so
great as to remain, after months Of
concerted effort to relieve the con-
gextson, an acute problem to the
railroads and to shippers as WE'LL
and though existing equipment Tor
the movement of freight is made
ouate at a season which ordinarily
is marked by huge net surplus OF
freight cars, there are indications
that the peak in railroad prosperity
has been reached or passed. That
is not TO say that the railroads are
not prosperous or that they Will not
remain so for long period. Indeed
it is altogether likely that the re-
verse will prove TO be true. Rail
road earnings are much more stable
than those of the industrials. Inc
peaks are not as sensational IN
either direction, and reaction such
as many believe will attend the
restoration of peace will be slower
to affect the railroads and much less
drastic in it's effects than other more
volatile forms of industry.
But it is nevertheless true that
the November reports of a large
number Of rosds-thirty-fve out OF
ninety-fve whose returns have been
examined-show decreases in net
operating income; that is. In the
amount of earnings remaining after
the deduction Of expenses, taxes and
uncollectible revenues. And 1t is
significant that the roads reporting
smaller income in November, 1916,
than in the same month a year be-
fore are of varying character, oper-
ating in practically all sections OF
the country, so demonstrating clear
ly that the downward slant OF the
curve of profits is not due to local
but TO a general condition. But
what stands out most prominently
is the fact that in a large majority
of cases the decrease in operating
income accompanies an improvement
in gross operating revenues. In
other words, operating expenses
have increased so much that they
more than absorb the gain In gross
earnings. The comparison, it should
be noted, is with a period in which
the volume of business, both foreign
and domestic, had attained huge
proportions, with commodity and
labor prices still to take the sensa-
tional bound which was an outstand-
ing feature of 1916. But the con-
clusion to be drawn from the figures
Is not vitiated by that. It is rather
the more pointed by reason Of 1t.
And it is that the railroads cannot
hope for much increase in their
gross earnings, at least in the near
future, since traffic is already up to
the capacity Of existing equipment,
or for a decrease in operating ex-
penses. No matter what decision
the Supreme Court may reach on the
validity of the Adamson law, the
men are pretty sure to get some part
of the increase in wages which is
granted to them under that act, and
meanwhile, with the steel trade
booked far ahead at fantastic prices,
there is little prospect OF a sub
stantial lowering of the cost Of
railroad supplies.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-01-12
U. S. Treasury Finances

Washington, Jan. 1.-THE condition
of the United States Treasury at the
close of business to-day was:
Net balance in general fund, S1ot,-
502,898; total ordinary receipts, So,
525,6e2; total ordinary payments, 81.
6S0768.
The deficit this fiscal year is s134.-
672,274, against a deficit of $5s,67e, 566
last year exclusive of Panama Canal
and public debt transactions.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-01-12

The above rates express the cost OF
foreign money in terms Of the Ameri-
can dollar You buy an English pound
sterling for t4.75%; the intrinsic par
ity is 34Ss% per pound. Thus, you
say either that pounds are at a dis.
count or that dollars are at pre-
MUM, which is owing to the fact that
IN England the demand for dollars
with which 70 settle accounts in thi,
country is greater than the demand IN
this country for pounds with which to
settle accounts In England.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-01-12

nut being disposed OF in neighboriing
COUNTRIES Several new shafts are be-
ing driven in the district Of Borinage
and In the coalGelds Of Campine just
opened up. The cost of production has
Increased, especially as in October,
1915. the miners received 10 per cent
advance in wages.
"Coal mining in Poland Is under the
administration OF Austria, which con
trolls the fields OF Dombrovs, where no
effort has been spared to keep the
mines in operation"
German industrial corporations IN
creased their capital in 1915 by tho is
sue of s72,0O0,00o Of new shares, az
COMPARED with s67,b00.000 In 1915. A
total of s75,00o,o 900 was invested IN new
industrial corporations, rs compared
with s45,O0o,o0o in 1918.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-01-12
The Dollar in Foreign Exchange

Sterling exchange rates touched the
biohsst levels in several months yes
t.,dsv. Demand bills on London ad-
vanced a small fraction to s4.7b%'
Sixty and ninety day bills we're firm
and unchanged.
The rest OF the foreign exchange
market did little more than mark time
Italian lire continued to display weak
ness or small amount of business
Russian rubles hardened slightly.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-01-12
FINANCIAL MEEllNoo
ONCE ~ ooxra>i,
RAPID TRANSIT eo"'

civ Of New 1oF", n ~
Borough OF Brooklyn. Dec nlD s,o.k no 80
The annual meeting q the c,rnpts
of the Brooklyn Rapid Trans, ,.ctors %
for the election Of four - thres a.
serve three as years and o. ' a. sssi
inspectors Of election 70 serve Tor n'
succeeding annual meeting snS basss.'
purpose OF transacting such oln' ne met
as nav be duly brought before noos .,
ing. will be held az twelve o .iv ~ onaes z
Friday. January zsth, III e..si Boroof
OF Brooklyn, New York city ~. - rrss,'
win remain open for one hour. Lnss P. y
fer Books vii be closed ., , os s,fs Ir.ssi.
on Jsnusry i'm. 1917, and WI ~. a.
closed until ten o'clock a. a. heltss
Immediately succeeding s1,i = s,sfslsrs
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-01-12
Relevant
Information

Bethlehem Steel~-On a single trans
action of 100 shares, Bethlehem com
mon advanced 10 points yesterday to
4s5. The present price compares with
a high record of'700 made In Novem-
Der. At the moment there is a good
deal Of speculation as TO what action
the directors will take on dividends at
the meeting next Monday. Last year
$50 share was declared, payable in
four quarterly instslments. In view
of the conservative policy OF the man
acement OF the Bethlehem Corporation
in the past and the appropriations for
extension, the best opinion in the
Street Is there will be no change in
the dividend rate. Unofficially it is
reported that Bethlehem will not show
as large profits in 1915 as had been
originally predicted. The war tax OF
1871 per cent on all munitions earn
ines is expected to reduce the net
SO 1000. 900, and appropriations for de-
probation will be large. Net earnings
on the common stock for 1916 have
been estimated at approximately S325
a share. In 1915 the company actually
earned SIP share on the junior
stock issue.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-01-12
Our Ice Cream Bill
The National Confectionery

1916 1915
Total production
gals ......... zoe, S2o,O 175,224,270
Total wholesale
factories (gals.) 1o9,26o,ooo 1889, 400
Total retail, foun-
tains, etc ....... 40,059,6oo 35,767, $50
Wholesale price at
So cents per gal
lon ............sts7,s7s.s2o 'sttt.74s,s2o
Retail value OF
total at sl.40
per gallon. ... 2e1 ,64S 900 245.313,e7s
Valuation, whole
sale plants ..... 83,6oo,o 900 1920 900
eat so cents in 1915.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-01-12

Below Is given the current exchange
value Of foreign money in dollars sno
cents, together with the intrinsic gold
parity, as calculated Dy the United
States Mint:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-01-12
Coal Supply Is Large

Industrial Germany is not lacking in
an adequate supply OF coal, according
70 the bulletin. Before the war about
175 100000 tons were mined annually
The output for 1916 was approximately
SO per cent 100000, 900 tons), or about
equal to the German consumption in
normal years, when the excess of ex-
ports over imports was nearly 10000
600 tons. II is pointed out that not all
the coal mined is available for home
consumption at present, as a portion IS
required for export TO neutral neigh
boring countries, especially Sweden and
Switzerland. According 70 the German
Swiss agreement of September 90 Swift
land receives $50, 900 tons a month,
valued at about Sl,200.000. or about
Sl5,000,000 a year. As the enormous
needs of the navy, railroads and iron
and steel Industries must necessarily
receive first consideration, 10 is not al
ways easy to supply the full demands
Of the general public.
"A large saving Of COAL says the
bulletin, has been effected by carly
closing OF shops and cafes, and b. cur
failing the streetcsr and subway SER
vice. Coal is transformed into coke or
briuuettes wherever possible. which
process works an economy and produces
important quantities OF gas and coal
tar. The latter is highly valuable in
the manufacture of dyestuffs and ex-
plosives. The output of briquettes is
ito per cent of what it was before the
war. In 1912 il was 6i7 million tons.
Wholesale prices for coal we're quoted
al 81 ton, varying according to the
distance from the pit
Goal mining in Belgium continues
on a considerable scale, part Of this out
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-01-12

Bank of England-The Bank Of Eng
land reported an increase for the week
in gold coin and bullion holdings OF
f5O7 ,09s. Proportion Of reserve TO liza
bilities is now 1910 per cent, against
1876 last week. Other changes re-
ported for the present week are as
fnllnMs.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-01-12
Commercial Paper.-The market

Commercial Paper-The market for
prime mercantile paper is reported
quiet. Not much paper Of the first
class is coming into the market and
only a limited number of institutions
are buying. The average is down to "a
per cent, the lowest figures since the
furry Of mid-December.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-01-12

Sub-Treasury. New York banks
gained from the Sub-Treasury 49,
$4,000.
Silyer.-Bars in London, S6h pence;
New York, 76A cents; Mexican dollars,
5Sh cents.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-01-12
Money and Credit

Fresh importstions Of gold continue
to impart ease to the money market
Rates yesterday were maintained at
about the low levels Of the preceding
day. Call money at the New York
Stock Exchange ruled az per cent,
with some loans placed as low as IN
per cent.
Transactions in the market for time
funds on brokers' Stock Exchange col
lateral consist, for the most part, Of
renewals. Such new loans as are placed
are mostly based on industrial col
lateral. The market for loans on mixed
collateral is dull and easy.
Ruling rates on money yesterday,
compared with year ago, were as fol-
lows:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-01-12

American Sugar.-0ne OF the strong
spots In the industrial list yesterday
was American Sugar common, which
advanced 2% points to 111s on deal
ings OF $500 shares. There is s40,-
100000 OF per cent cumulative pre-
ferred outstanding and like amount
of common. Dividends of 7 per cent
a year have been maintained on the
common sine. 1901, while the preferred
ha. received its full share Of dividends
since organization. Not since 1911 has
the company earned the full per cent
paid annually on the common. In 1918
4.s9 per cent was earned, in 1914 2.9o
per cent and in 1918 nothing. How
ever, over period Of nine years the
company has shown average annual
earnings on the common OF I'll per
cent. Since the war began the COM
pany has been doing considerable re-
Aning for the British Royal Commits
sion. In March a contract TO refine
$4,000 tons of raw sugar within the
following six months was received from
the British government. Subsequently
additional orders have been taken on.
In October it wss stated unofficially
that the company had enjoyed in 1916
one OF the best years in its history.
Western Union.-De5pite the fsvors-
bic showing made in the compsny's
report for 1916 the stock was reac-
tionsry yesterday, and declined from
81 to a5s.. closing with net frsc-
tionsl loss. Western Unions gross
earnings last year were the largest in
the history OF the corporation. With
the month OF December estimated. total
revenues amounted to s63, So, 295, show
ing an increase Of sl1 1894 over the
1915 figures. while net increased 81
349.S27. Net earnings for the year are
estimated at Il per cent on the stock,
against 1915 per cent in 1915 and 5.33
per cent in 1914.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-01-12

Bank Of France.-The Bank Of
France, in its weekly statement to-day,
reports the following changes for the
week, in francs:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-01-12

Gold from Csnads.-Gold TO the
amount Of ,:l,i4o,OoO was received at
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-01-12

TIRVyRs STATE RAM. INc.. GRE. t ~ .
NINE psyS a., for siK months ara ~, .
year on Certificate Of Deposits NV
RESPONSIBILITY Half Milli0n Dollars
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-01-12

Official rates Of discount at each Of
the twelve Federal districts are as fol-
lows:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-01-12

The detailed statement compares as
follows with the same week last year:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-01-12
'15- day paper.

Bank Clearings.-Tne days clesrings
TT New York and other cities:
The Dermott news., 1917-05-24
Sees Hope Of Peace.

the Executive Committee of the Coun-. cil of Workmen's and Soldiers Dele gates, according to Reuters dis patch from Petrograd. said in { his speech that. while the committee of which he is member is opposed O . separate peace, 1t believes that war might be ended by an agreement be- tween the German and Russian dejioc- racies. For this reason. he saidj it proposed to enter into negotiations with the representatives of German democracy al the international So- cialist conference.
The Dermott news., 1917-05-24
FIRE CAUSES BIG
 LOSS AT ATLANTA
DYNAMITE USED TO CHECK HUGE CONFEDERATION CIT.
 IFS SEND FIRE APPARATUS.
FLAMES TANNED BY WIND
Destroyed Buildings Range All Way From Shacks Occupied By Negroes To Homes Up to St, ,0Oo and $S,000
 Estimated Loss Is $3,00O,00

Atlanta, Ga Fire that swept through a large section of Atlanta from Decatur street north and north east, cutting a clean swath of varying widths. finally was brought under. control just before 1t reached the Att lanta baseball park. in the opinion of Fire Chief Cody.
 Several blazes could be seen in the northeastern section of the city, but they were being quickly handled, and acres of what formerly bore beautifuE homes, laid waste by dynamite, act. ed as a safeguard against further general devastation.
 The city is practically under mar. tial law, administered by hundreds of soldiers who have been training at Fort McPherson. or National Guards men in camp here. acting under the, direction of Col Charles k. Moves. U. S. A, who officially Is under the guid-- ance of the chief of police.
 Thousands of homeless persons were being fed and housed in the Au- ditorium Armory. the negro Odd Fel- lows hall and in hundreds of homes. Most of them saved only what they could carry, as household goods piled up in the streets in advance of the. flames were devoured in the rush of the confiagration
 For six hours dynamite was resort cd to and 1t finally won the fight. Fire fighting appartus sent from oth- CT cities was of some aid and will b0 of more. as acre on acre of smolder- ing ruins await water to make them safe.
 Oniy one death has been reported. Mrs. Hodges died of shock when her home was burned Sixty injured per. sons were taken to hospitals.
 Approximately 15 blocks were de- wasted. but the area cannot be cor rectly estimated by blocks. as after the fight at Ponce de Leon avenue. the flames skirted that thoroughfare on the south side of the street for some distance.
 Officials would not hazard guess at the loss The destroyed buildings
 
 pied by negroes 10 homes up to s6.. 900 or sS.o00 Some estimates were between & 0o0 900 and s3,0ooo00.
 The blaze started in the Skinner Storage and Warehouse plant, near Decatur street. just east of Fort 2 street, from Il cause not determined. IL quickly spread to the small hoyses nearby. which were dry from lack of rain and. driven by high wind. etartS cd to rapidly eat it's way nortfM md northeastward Around the flame swept area. with it's strets filtered with broken wires. splinters from dy- namited homes and all the odds and ends of furniture and clothing that gathered in an indescribable mass frov sdreds of homes. United StatN soldiers stood guard.
The Dermott news., 1917-05-24
Rico a day for registration will b, named in d later proclamation.
 All Must Co-operate

HICO udy IOl IeSIStidtluH VIII ut named in later proclamation.
 All Must Cooperate.
 "The power against which we are arrayed has sought to impose it's will upon the world by force. To this end it has increased armament until il has changed the face of war, In the sense in which we have been wont tG think of armies there are no armies in this struggle. There are entire ma. tions armed. Thus, the men who re main to till the soil and man the fac tories are no less a part of the army that is in France than the men beneath the battle flags. It must be so with us. It Is not an army that we must shape and train for war; 1t is n na, ton. To this end our people must draw close in one compact front against 6 common foe. But this cannot be If each man pursues private purpose All must pursue one purpose.
 "EFhe nation needs all men. but il will most pleasure him, but in the en' deavor that will best serve the com mon good.
 Tt is in no sense a conScription of the unwilling - it Is rather selection from nation which has volunteered In mass.
 The day here named is the tims upon which all shall present them selves for assignment to their tasks.
 Tt is essential that the day be ap. preached in thoughtful apprehension of it's significance and that we accord to it the honor and the meaning that it deserves Our industrial need pre-. scriheS that it be not made a techni- cal holiday, but the stern sacrifice that is before us urges that 1t be car. ried in all our hearts as q great day of patriotic devotion and obligation when the duty shall lie upon every man, whether he iS himself to be reg iStered or not, to see to II that the name of every male person of the dtS- ignated ages is written on these lists of honor
 By the president:
 "ROBERT LANSING,
The Dermott news., 1917-05-24
WEALTHY GENTLEMAN SLAIN l
Body of Thomas Lyons Found in Ra. vine Near Suburb of Ei Paso,
 Tex.-Robbery Motive.

El Paso. Tex.-The body of Thomas Lyons. millionaire cattleman of Silver City. N. M.. was found in ravine in n suburb of Fl Paso. His head was crushed and he had been robbed. He had arrived from Deming, N. M., dur tng the night. Lyons came here from Rochester, N. Y.
The Dermott news., 1917-05-24
Economy in nioh, ,aee..

Ottawa, Ont.-Guests at the table of King George cut their own bread in order to avoid food waste. accord ing to J. D. HaZen. who has returned from England with Premier Borden of Canada,
The Dermott news., 1917-05-24
Demands Satisfaction.

London.-A Madrid dispatch 10 tho Exchange Telegraph Company says that the note sent by the Spanish gov. ernment to Berlin in regard to tho sinking of tho Spanish steamer Pa tricio demands immediate satisfaction and guarantees for the future
The Dermott news., 1917-05-24
| MORE TREASURY NOTES OUT
$2oo, ,ooo, 900 Worth of Certificates O, Indebtedness to Be Taken Up
 by Banks.

Washington.-The treasury depart ment announced a third offering oi $200,0o0,0o0 worth of treasury certifi. cates of indebtedness. Treasury off cials expect the issue to be subscribed by the banks and trust companies oi the ration within the next two or thres Mas