davidaulloa/AmericanStories huggingface dataset:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-09-30
Dividends

Transue & williams Steel Forging.-Regu-
lar quarterly dividend Of sl.25 share, pay
able October 20 to stockholders OF record DC
tober 10.
Western States Gas & Electre.-Regular
quarterly dividend of ! u per cent on the
preferred payable October Is TO stockholders
of record September 90.
Fifth Avenue National Bank.-Quarterly
dividend of % per cent, payable October TO
stockholders OF record September 70.
Second National Bank.-Usual quarterly
dividend of per cent payable October TO
stockholders Of record September %.
Globe wernieke.-Regular quarterly divi-
dend OF | u per cent on the preferred stock,
PAYABLE October Is to stockholders OF record
September 20.
Eureka Pipe Lire.-Regular quarterly divt-
dend of s.. payable November l to stock
holders OF record october 10.
Maple Leaf Milling.-Extra dividend OF
~ per cent on the common stock. In addi-
ton TO the usual quarterly dividend Of ia
per cent
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-09-30
Relevant Facts

Bethlehem Steel.-Up to the close
Of business Friday, the last day Tor
the receipt Of subscriptions to the new
$50 900, 900 issue of 3 per cent pre-
ferred stock OF the Bethlehem Steel
Corporation, more than 10 per cent
or approximately sci 100000, had been
subscribed for by the shareholders.
The remaining 100000 has been
taken by the underwriters, the Guar
anty Trust Company and j. &. W..
Seligman g. Co.
American Can and Distillers.-The
two issues which showed the greatest
strength in yesterdays stock market
trading was the common stock Of the
American Can Company and the stock
of the Dstillers Securities Corpora
ton. The former closed at its high
price of ASH, a net gain of two points,
while the last sale of the latter was
at 80, an advance of 3S.
Atlantic Gulf & West Indies.-Con-
solidated gross earnings Of this COM
pany and subsidiary properties for the
month of July amounted to s4,396,277,
compared with S3,224,996 in the CORE
spending month year ago, and net
earnings were $1,862,742, an increase OF
S724, $50. Surplus after interest charges,
etc, rose from S998,320 to Sl,273,623.
Gross for the seven months ended July
81 totalled $27,130,l90, compared with
S18,82l ,679 in the corresponding period
of last wear; net increased from S5,790,-
469 to SS,399,324, and surplus after
charges, including estimated allowance
of s3.l5O.000 for war income and excess
profits taxes, was s4,245,756, against
81, 1923, 1888 in the year preceding.
Extra Dividends.-The Atlantic Steel
Company has declared an extra divi-
dend of / per cent on the common stock
and the regular quarterly disbursement
of ~ per cent on the same stock, both
payable October to stockholders OF
record September %
Directors of the Indiana Pipe Line
Company have declared dividend OF -
and an extra dividend Of 81 share
payable November Is to stockholders
of record October %.
Pere Marquette NEUTRALITY-SUSPICIOUS.
gross income for the month of Angus
totalled S2,O87,35l, net after expenses
amounted to S699, POI, and surplus after
! taxes and charges was s39O,533. lhs
five months statement up TO August 81
shows gross earnings of $40, l27 ,794, net
of 50, 41S,97S, and surplus OF Sl,i2i,595.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-09-30
An English View of
The Silver Situation

An English silver expert writing IN
"The London Daily Telegraph" says:
"The recent rapid rise in the price
of silver has been due to the great
scarcity of the metal coupled with the
interference of the Indian government
with the regular trade IN the metal
and the prohibition of imports on pri-
waite account. This action was largely
responsible for high premium being
placed on silver, as it opened the eyes
of the natives of India TO the impor-
lance of still further boarding the
metal, and they refused to part with 1t
even at advanced rates. The result OF
this prohibition had quite contrary
effect to what was intended, as 1T raised
the price of the metal all over the
world instead of lowering II. 1t would
have been a far wiser policy for the
government TO have increased the I'M
port duty on silver rather than to re-
sort TO prohibition. 1t would have been
sound economics to have done so, as
more revenue is wanted in India and
silver has naturally become very pre-
cious in the eyes of the people. China
REQUIRES the metal more than any other
country in the world. After the sudden
rise from gid to 37d per ounce in 1916
she unloaded an enormous quantity
some so 900. OO0-to India in the hope
of being able to replace it at lower
rates later on. This she has not been
able TO do. and is now compelled to re,
plenigh her stocks at much enhanced
prices direct from San Francisco. The
high prices of commodities all over the
world obviously require the employ
ment of more currency, and the expan-
SION of such markets as Africa, Meso-
potamia, Persia and Palestine owing to
the war will probably continue after
the conclusion OF hostilities, SO that
thew will require more currency IN the
shane of rupees and other coins
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-09-30
|Pawnshops Rush
Old Silverware
To Melting Pot
Price of Bullion Declined
IL 7-8 Cents Last Week
to So So Cents

The spectacular break in the price of
commercial bar silver went. further yes
terday. when the New York quota
ton fell another cent, to 96S cents
an ounce, following a decline Of nd.
in London. In the local bullion trade
1t was asserted that the position OF
the market seemed to have been i'm
proved by the fall in prices. Inside
OF week silver has declined in the
New York market liz cents an ounce,
from the high record of sl.0sh.
While Developments in the Far East
are considered as chiefly responsible
for the sharp break in the silver, it
is reported that the supply has lately
been increased substantially by the
sale of old silvcrware, which has been
converted into bars. Assayers and
secondhand shops report that the
amount of silverware offered for sale
in the last six weeks has exceeded all
offerings in former times of rush BUSH
ness.
PawnbrOkers Unload
For several years prior to 1915 be-
tween 100000 and 100000 ounces
of old silver were melted down an
nually, according to a leading trade
authority. When the high price Of 1916
was reached the pawnbrokers, being
able to figure profit Of 10 to 20 cents
an ounce, cleaned out their heavy ware
and some Of their hollow ware.
The lending value on silverware had
been between 40 and 60 cents an ounce.
As pawnbrokers and others in the trade
are not generally Of the opinion that
the price will continue at its present
high level after the war, the increase
iii the loaning value has not been in
proportion to its recent rise.
The silverware being sold now COM
prises a certain amount Of unredeemed
pledges in the hands of pawnbrokers
and offerings from people who have no
storage vaults, and are finding it more
profitable to sell at the present high
prices than to pay storage charges in
warehouses or interest to pawnshops.
Household Buying Keeps Up
Reports from the silverware trade do
rot indicate that the recent sharp ad-
manufactured articles has as yet
caused any curtailment in the demand
According to one dealer: people will
go on buying silverware. Increases in
wages and general prosperity have
raised the purchasing power Of the
country. Buyers will, though grum'
blingly, pay 80 per cent more than
they paid two years ago.
Substitution, which plays such a big
part in all other commodities wher
prices rise above a certain level, will
affect silver consumption in this coun'
try very little. First, in comparison
, with the general outside demand, the
amount of the metal consumed in the
world in the arts outside of India is
small, being about 100000 ounces an.
rually. Second, no new use for silver
has developed in the last twenty-five
years, despite the low price. High sill
yer will, therefore, not lead to substi'
tuition. On the other hand. family sill
yer, which is added to every year, as
sures a steady demand"
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-09-30

by the Ministry of Commerce and IpIu
dustry in Petrograd.
Application must be made to these
departments by the Russian consigneeJi
If permits are granted, authority w.
cabled to the commercial attache OF
the Russian Embassy in charge Or
marine transportation, 1 State Streetsc
New York, who in turn informs the
American shipper that his goods can
90 forward. r..
At the same time. the latter il 70.
quested to apply for ocean shipping
space, giving detailed information cow q
ering the consignee's name, the nature.
Of the material, the manufacturers
name, the quantity, weight and cubic
measurements to the above mentioned,
commercial attache. 40,
Vladivostok remains closed to all
shipments except a few which are esq
sential to governmental purposes op4
some goods for local use. Archangeb,,
the great White Sea port, is the main
point of entry, but probably will brr,
closed by ice shortly after November ",
and shipments will then be diverted To-
Kola, where improved railroad faciH-
ties will help relieve the former COW:
gestion. Transshpment through Swe-
den has not been practicable for sons
time.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-09-30
Gould Loses Grip
On Another Road
Protective Committee Plans
Change in Denver & Rio
Crande Board =

George J. Gould is expected to lose
control of the Denver & Rio Grande
Railroad. Plans Of the stockholders
protective committee, of which John
w. Platten is chairman, provide that
he shall be retained as a director, but
that three of his associates shall ne
eliminated from the board. This will
leave Mr., Gould in the minority when
important questions Of policy come up
for consideration.
The Platten committee yesterday
sent out letter to the stockholders
Of the railroad calling for proxies to
be voted at the annual meeting on
October Is in Denver. The new men
proposed for membership on the board
are Mr.. Platten, J. Horace Harding and
Harry Bronner, to succeed Kingdom
Gould, Benjamin B. McAlpin and Il. U.
Nudge. Mr.. Nudge was chosen presl-
dent of the property by the Gould IN
terests two years ago, when they OBJ
tanned control Of the board OF dlrec-
tors and divorced the management
from that of the Missouri Pacific.
Close Alliance with Mop"
With the elimination Of the three
Gould directors the Denver & Rio
Grande, as we'll as the Missouri Pa
cifc, will be dominated by the inter
ests represented by Kuhn, Loeb & Co.
who have been chiefly instrumental in
bringing about the loss of Gould pres
tige in the railroad world.
Mr.. Mudge's contract calling for
salary of $4,000 year expires on
October 81. 1t is expected that an
other man will be chosen to fill his
place by the reorganized board.
While the banking interests behind
the Missouri Pacific deny that physi-
cal merger of that property with the
Denver e. Rio Grande is under con
temptation, Wall Street processes r.
see in the latest move another step II
the development Of transcontnenta
system such as George Gould dreameC
of when he was at the zenith Of hi
power and controlled 10000 miles o.
railroads.
The Platten stockholders committed
was organized last May as a result Of
the decision handed down in the
| United States District Court at New
York, under which judgment agains
the Denver & Rio Grande for s32,
| 100000 was obtained for default o.
the interest guarantee on an issue o.
s50,0O0,000 of Western Pacific Rail
road bonds
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-09-30
Labor Market in
New York State

Returns as TO manufacturing activity
in New York State reveal that the
total number of employees was nearly
2 per cent less in August, 1917, than in
July. The number of employees has
lessened each month since March, be-
ing per cent less in August than in
that month. The total aggregate of
wages paid, which has been decreasing
each month since May, was practically
the same as in July and l per cent
less than in May. August is the last
Of the summer months in which are
combined the vacation season with the
necessity of Overhauling and repair of
machinery and for stock taking. These
results are indicated by returns re-
ceived from a large number of leading
factories, including all of the impor-
tant manufacturing industries and To-
calities in the state, and covering the
period since June, 1914. Each of the
eleven industrial groups reported fewer
employees in August than in July, but
there was no large decrease in any one
group. In five of the groups there were
decreases in wages and in six there
were increases. New high wage records
were established in two of these. As
compared with the same month one
year ago, there were in August l per
ment more employees and 10 per cent
more wages were paid. Cores pouding
increases over August two years ago
were q and SO per cent, respectively,
and over August three years ago &c
and 81 per cent, respectively.
The aggregate Of wages paid in Au-
gust was, as noted above, practically
the same as in July, while the number
Of employees was nearly 2 per cent
less. Hence, the average per capita
earnings of all employees, including both
sexes, for one week in August was
greater than in July. The figures for
August were S16.44, as against Sl6.17
for July. In August of last year the
average wage was $l4.44; in August
two years ago, Sl2.s9, and in August
three years ago, Sl2.53, t.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-09-30

az Broadway New YORK,
September %. 1917.
The Board Of Directors Of the Anaconda
Copper Mining Company has declared a
dividend OF Two Dollars $4,000 per share
upon its Capital stock az the par value OF
$50 per share, payable November 26, 1917,
10 holders ~ such shares Of record az the
close Of business az ~ o'clock noon. satur-
DAY, Octpber 90 1917. .
The din .dend is payable only upon the
Row dividGd
All stockholders who have not converted
their holdings into shares 81 $50 par value
should do without delay in order that
they may receive their dividend promptly.
a. IT. MELIN. Secretary.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-09-30

The big break in silver is interest
ing. The price is down about IL
cents an ounce from the high record
level Of 1882 an ounce, made a
week ago. How much further the
decline will go the trade does not
dare to predict. A case Of overspecu-
lation is suspected. In London and
in the Far East, in China in par
ticular, there has been heavy specu-
lation in silver since early in the
war. China bought silver, sold 1t at
high prices and bought again. But
Chinese purchases, which have been
q very large-in fact, the principal
factor in the market, seem suddenly
to have ceased. Dealers in silver are
now watching the Far East carefully
to see what the next development
will be. .
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-09-30
Liberty Bonds
Bring 80 Cents
Premium on $500

The premium on q hundred dollar
Liberty bond rose on the Stock Ex-
change yesterday to 80 cents, new
high record. The total transactions
during the two hours trading were IN
excess of $4,000, 900, while during
the last week more than sl5,300,OO0 OF
the bonds have changed hands.
One Of the chief reasons for the
strength in this issue during the last
week, it is reported, has been purchases
by those who want to be in position
TO show the tax assessors tomorrow a
large amount Of tax exempt securities
among their holdings.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-09-30

The weekly statement of the New
York Clearing House Association ex-
plains in a measure why money rates
frightened as they did. A rather un-
favorable position, all things consid-
cred, is disclosed, although one that
is by no means serious. 1t does in
dictate, however, that the banks must
conserve their resources if greater
money squeeze in the face of impend-
ing burdens is to be avoided. Loans
of local institutions last week ex-
panded SAC, 100000, while the excess
cash over legal reserve requirements
decreased S5,742,000. This item now
stands at S77,O12,12O. One of the i'm
portant drains on the cash resources
of the banks during the week was the
withdrawal of a substantial portion
of the United States government de-
posits. These amounted to S240, 00O,-
900 at the close Of the week, COM
pared with 100000 the week be-
fore, indicating Withdrawals during
the period of s3S,OOO,Ooo. In the
statement Of the Federal Reserve
Bank of New York for the week evil
dence appears of the effort made by
member banks to ease up the money
situation, Greater resort was made
to the rediscount privilege at the re-
serve institution than in many
weeks, the total of bills discounted
and bought rising to $145, 153,315,
compared with $50, 655,OOO the week
before. Of this total, S75,6l8,7O2
represented commercial paper and
S72,534,613 acceptances.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-09-30
Current Comment
Railroad Reports

ID II the railroads would awaken to the
fact that the reports which most of
them now send out promiscuously not
only do not serve the purpose-thst of
enlightening the security holder-but
are waste of good money. they would
Immediately inaugurate the practice of
printing only small supply Of de-
tailed reports for bankers. libaries
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-09-30

A somewhat better tone prevailed
in the general bond market last
week. The decline went further in
some of the old line issues, but the
tendency on the whole was toward
Improvement. The rise in the Lib
ertv Loan 314s above par helped sem
timent. Municipal issues continued
in demand from investors who are
looking for securities that are nom
taxable. In the market for industrial
bonds a development that attracted
much attention was the fall IN the
United States sinking fund 5s to
991a. This compared with a high
price for the current year OF lO|
and 1881 in 1916. The decline in
the steel bonds shows in striking
manner just what has been taking
place in the investment market gen
orally. The fact that the United
States Steel Corporation is enjoying
the greatest prosperity in its. his
tory has not saved its bonds from
taking the course of all fixed income
securities.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-09-30
The Dollar in Foreign Exchange.

Effects Of the American embargo on
exports were plainly reflected last week
in the movement of the neutral ex-
changes. Spanish exchange. for exam
pie. rose to the highest level of the
war period, with pesetas quoted at 2
above, "a cents, compared With nor
NAL par value of 1913 cents. Scandi-
navian rates were also strong as
rule. and exchange on Stockholm ad-
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-09-30
Latin.American Trade Booklet

Trading With Latin-America" is the
title of a booklet on the subject OF
foreign trade issued BY the Irving Ma
tional Bank. A detailed description
Of the commercial conditions now pre-
vailing in the several republics of
Central and South America is fur
nished, together with suggestions to
the mutual advantages Of ali exporters
interested in entering this new foreign
field.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-09-30
ReAexes Of War

The new war insurance plan Of the :
Japanese government went into effect
last week. Under the scheme the Jap
anese government will receive the whole q
of the war risk premiums and assume,
the whole of the liability. Hitherto the 9
war risks have been accepted by tho f,
insurance Offices, which have been able
to reinsure, without payment, 80 per cent
of the risks with the government. The
latter however, fixed the rates Of pre-
MUM receivable by the insurance OF!
fees.
An official report just issued shows
that the total net tonnage Of vessels
which arrived ct and departed from.t
London with cargoes and in ballast
from and TO foreign countries and Brit
ish possessions during 1916 was "a
976,437 tons, compared with 3O,9oO,5 3lS'
tons in 1915. Both totals are exclusive.
of the tonnage of vessels employed in
tho Government service -~'t'
,apI
! The Rumanian Consolidated Oilfelds,
Ltd, whose property was destroyed
/ last winter in order to prevent it from
/ falling into the hands of the Germansa-
has entered a claim against the Brit
l sh government for S6,35S.000 as tho
/ compensation due for the property lost.
1t is stated that a movement is now
en- foot for the amalgamation and con-
/ soidation of all. or the major part.
of the British petroleum undertakings,
about fifteen in number, operating in
Rumania. with a view 20 securing CO.
operation in dealing with the several
! claims and 10 constituting distlnctiy9a
! British petroleum undertaking availa-
Bile for the support of British interests
! after the war;
The Argentine government has aR
nounced it's intention TO establish
banl, Of issue, to be called the Banso
! de IA Republica IL is proposed ths>,''
the new institution shall mint gold,
! and print national currency notes, and
that the existing Conversion Once shalrs
| BECOME a dependency OF the bank. " 40
will discount and rediscount CONNER
| cal and other paper, including thae
/ of member banks, will make ADVANCES
/ issue paper money to the extent thst-.
! the gold nOlQlnR uOts HOS laAi bSA""
10 per cent. regulate the currency ana
! the exchanges. and also act as clear,
| ing house for the banks incorporated
| with it, The British Bank of South
America, in its monthly circular. states =.
! that the capital of the bank will be-
constituted by sl29 100000 gold. to be-
made up s30,000,000 representing tho.
! Conversion Fund and by bond OF the
government of S99,000000. This bond
| will be- cancelled by the designation or
so per cent of the net profits OF the ,.
Banco de la Nacion and Banco Hipote-
carlo Nacional, and by other opera
tions. Credit institutions which de-
sire TO become incorporated with tho
! hank will be under the necessity Of
maintaining not less than 20 per cent
/ of their deposits in government bonds,
exchangeable at any time into currency
! notes. ga.
80.
1t will require sl5O,OOo,OOo to repair
and reconstruct British roads after the !.
war. Heavy motor traffic connected
with the military movement has done
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-09-30
Other Cities
Higher Commodity Rates Suspen

Higher Commodity Kates SuspeHueu.
WASHINGTON, Sept. 29.-Proposed
increases in freight rates on all COM
modities from points in Virginia, on
the Southern Railway, to Chicago. st.
Louis. Kansas City, Cincinnati, Detroit,
Indianapolis, Columbus, ONO. Cleve-
land and a large number OF other
places in the Middle West were sus-
pended to-day by the Interstate Com
merce Commission until January ~.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-09-30
Current

The above rates express the cost of
foreign money in terms Of the Ameri-
can dollar You buy an English pound
sterling at, say, $4.75A. The intrinsic
parity is $l.SG9s per pound. Thus, you
say either that pounds are az discount
or that dollars are at premium, which
is owing to the fact that in England
the demand for dollars with which to
settle accounts in this country is great
or than the demand in this country
for pounds with which TO settle ac-
counts in England.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-09-30
News Digest
New York

Change in Brokerage Firm. = Mont
pomery, Clothier & Tyler announce the
retirement of George +. Tyler from the
firm as a special partner. The business
will be conducted under the firm name
of Montgomery & Co.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-09-30
DIVIDEND NOTICES
UNITED FRUIT COMPANY
DIVIDEND NO. 20

quarterly dividend Of two per cent
two dollars per share) on the capital stock
Of this Company has been declared, paya-
bic on October IS, 1917, to stockholders Of
record at the close Of business September
20, 1911
The transfer books DO not close.
JOHN W. DAMON. Treasurer.