davidaulloa/AmericanStories huggingface dataset:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-06-05
Trade Dominated
BY Activities of
The Government

Washington, June 4.-Healthy bust
ness conditions generally are reported
in the Federal Reserve Boards month
ly summary of business conditions,
though war economies are being felt in
many sections. The Liberty Loan has
Overshadowed other features of the
financial situation and government ac-
Invites have been dominating factor
in trade. The freight traffic situation
in some places Is improving, but it still
Is serious. The labor market IS much
depleted by military requirements.
By Federal Reserve districts the
summary shows:
Boston-Raw material prices in
creasing. labor scarce, anthracite and
bituminous coal shortage serious. Wool
prices increasing, with prospect that
supply will be insufficient unless Eng
land releases some wool from Aus
tralia.
New Business activity at a
high level. War establishments arc
stimulating production in staple and
basic lines, but economy is reflected by
the publics purchases of clothing, dry
goods, silks, jewelry and similar arti-
cles. Woollen mills have heavy do
mand for fall goods, largely govern
ment orders. Freight traffic situation
improving.
Philade!phia-W Wholesale and retail
distributing houses suffering from war
conditions. Factories operate as near
ly TO capacity IS supply of labor and
materials permits. Cotton and textile
factories busy on government orders.
Money rates have stiffened considera-
bly,.
Cleveland General conditions favor
able. Approximately p to 30 per cent
more ploughed area in country dis
tricts than at any previous time. Iron
and steel trade maintained at highest
point ever reached.
Acknowledgement business condi
tions sound, but financial preparations
for war have produced some hesi-
fancy in every business and vocation.
Widespread demand for increased rail-
road facilities.
Atanta.-High food prices and war
agitation weakened business situation.
Agricultural conditions encouraging,
especially foodstuffs. Cotton is late.
Car shortage continues. Labor condi-
ton growing worse and production may
have to be largely curtailed.
Chicago.-Persona economy affect
ing retailers who handle other than
necessities, but business conditions
generally satisfactory. Labor situation
growing more serious. Car situation
somewhat alleviated. Crop prospects
unsatisfactory.
st. Louis-All lines except war mu-
nitions quieter. But conditions gener-
ally healthy. Slackening due TO unsea-
sonable weather. increased cost of mer-
chandisc and economy campaign.
ACKNOWLEDGEMENTS acreage close to
normal. despite severe damage. Banks
encouraging farmers to increased crop
production. Business conditions gener-
ally satisfactory.
Kansas City. - Livestock prices at
highest level ever known. Farm work
retarded by cold and wet. Volume OF
general business undated.
Dallas-Economy evident and gem
eral business conditions less favorable
than a month ago. Cotton retarded,
but with diversified crops farmers will
be more self-supporting than for many
years.
San Francisco. - Prospects are for
maximum industrial activity but mod
crate crops. Credit easy.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-06-05
The Dollar in Foreign Exchange

Rates for pesetas advanced yesterday
to the highest point touched since the
present movement of exchange in favor
of Spain set in, despite the continued
flow of gold to that country. The price
of rubles eased slightly, but francs
were steadier than on Saturday. Ster-
ling and scandinavian exchange rates
were unchanged. The market as a
whole was quiet, with speculative trans
actions less in evidence than Of late.
Closing rates yesterday, compared
with a 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.
Week
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-06-05
MondoB June 1, 1917

No one doubts that the Liberty
Loan will be fully subscribed or over
subscribed. That was certain from
the beginning. But there is grow
ing doubt among bankers and others
who are engaged in merchandising
the bonds as to whether the loan will
be a popular success. The response
received from banking institutions,
large corporations and men Of wealth
has been satisfactory; on the other
hand, the small investor, judging
from reports coming from all Sec
tons of the country, has failed to do
his part, especially in the South and
West. This apathetic reception OF
the offering by the people can hardly
be ascribed to lack Of patriotism. 1t
is, perhaps, due to some extent to
the bad management of the fiotatlon
in the beginning. But the main rea-
son for the failure Of the people TO
respond undoubtedly is that the
country has not yet awakened to the
magnitude of the task with which it
is confronted. This might be dis
couraging were it not for the fact
that England, despite its propinquity
to the struggle, passed through
long period during which the people
ignored appeals for subscriptions to
government loans. The first British
war loan was taken by the banks.
So was the second, with very little
outside participation. But the last
loan-the one placed early this year,
and, incidentally, the largest tinan-
cial operation in the worlds history
was taken by the people, who at
last had realized the necessity of
"doing their bit" financially. Once
they were thoroughly aroused to the
needs of the situation, they re-
sponded quickly and generously. 1t
is confidently expected that the
American people will do likewise.
Moreover, Americans are less
phlegmatic than the British, and 1t
ought not to take so long to make
them realize that they must do their
share.
Unless there should be unexpected
developments in the course of the
next ten days, however, it seems GER
tain that large part of the present
will find Judgement in the banks.
It would have been much better if all
of il could have been placed with the
people, but the banks would not he
embarrassed even if they were called
upon to take the whole of the loan,
which, of course, cannot happen.
The second Liberty Loan will be
much more successful, in a popular
sense, than the first, and the third
will be more popular than the sec
ond, always provided future opera
tions are handled with better judg-
ment than was the present one. But
it must be remembered that the next
loan will have to be issued shortly
after the first one is completed-pos-
sibly within three months. In view
of that fact it would be wise to stop
the campaign for distribution of the
present issue as soon as the subscrip-
ton books are closed on June 10. In
other words, if banks find that they
have to take more of it than they
expected to get, let them keep the
bonds rather than continue efforts
to distribute them among the people.
If the merchandising campaign
should go on indefinitely after the
subscription books are closed, the
edge of enthusiasm for the next loan
L. l,,fIo1
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-06-05

revision in recent weeks,
the amount of s5l.23 a share was nj Iii
than the general expectation IN wan
street, and this fact, together with an
nounced intention Of the directors 10
maintain a conservative policy IN re-
gard to the payment of back DIVIDENDS
led to selling of international Mercan-
tile Marine shares on the stock EN-
change, under which the preferred sus
tanned a net decline for the day oil IS
points, and the common = OF point
The former was traded in 10 the eNten.
of 2e,sO0 shares, while 5,tOO shares OF
the latter changed hands.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-06-05
u. S. Treasury Finances

Washington. June 4.-Condition Of
the United States Treasury at close to-
day showed: Net balance in general
fund. si92,s7t.3 1856; total receipts, S.
290 24S; total payments. $3.032,35o.
The deficit this fiscal year is s6f, ST.
$50. against deficit OF s42,74t .286 last
year. exclusive Of Panama Canal and
public debt transactions.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-06-05
Other Cities

New Banks Washington,
June 4.-Reports of the Controller of
the Currency show 166 national banks
with capital of s13,OOO,OOO chartered
during the first FIVE months of this
year. During the same period old
banks increased their capital stock
$4,000 600.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-06-05
New York
Stock Syndicate

Stock Syndicate Dissolved. Prichitt
& Co. and Mllet, Roe & Hagen an
nounced yesterday that the National
Conduit and Cable Company stock syn
dictate had been closed, as all the stock
has been sold and profits to syndicate
members distributed
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-06-05

cipalities will again enter the market
for funds. Probably they will have
to pay higher rate than they did in
the first quarter of the year.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-06-05
Money and Credit

Stock Exchange borrowers had no
difficulty yesterday in obtaining all the
call money required at per cent, that
rate being slightly lower than the rul-
ing rate last Friday.
The loss in cash reserves sustained
By the local Clearing House banks last
week impaired a slightly firmer tone
to the time market, but rates remained
about the same. Loans on industrial
collateral were made at per cent for
all maturities. On mixed collateral
rates were quoted nominally at A to AZ
per cent.
Closing rates on money yesterday,
compared with year ago, were as fol
lows:
Yesterday. Year ago
Call money!. 4 % 234po
Time money (mixcd collateraD:
60 days.. 4 @4Iapo 2I4@234%
90 days. .... 4l4@4Iapo 2Ia@224%
4 months. =. 41a@434po 234@3 %
to 6 mos. 4Ia@4249O 1908 20
Commercial Paper.-0nly small
amount of prime paper Is offering,
owing 10 tne laCI IhoO SOS
heaviest industrial borrowers in times
gone by now have a surplus of funds on
hand as the result of their abnormal
earnings in the last two years. a little
inquiry for high grade paper was re-
ported from country banks, but the
large local institutions, as heretofore,
were practically out of the market.
The little business transacted was on a
per cent basis. =.
Official rates of discount of each OF
the twelve Federal districts are as fol-
lows:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-06-05
Expects Requisitioning

The United States government, Mr..
Franklin told the stockholders, has not
Communicated any Of the company's
vessels as yet, but that it will do so
is 80 be expected. All steamers of sub
sidiary companies under the British
flag have now been requisitioned by
the British government.
Mr.. Franklin said that the figures
submitted at this time show profits to
have been abnormally large, and they
must not be taken as any criterion for
normal times. Owing to the disturbed
conditions abroad, he explained, the
British companies found it impossible
to furnish final statements of 1916 ac-
counts in time to permit the annual re-
port being presented TO the meeting in
its usual completed form. Such a re-
port may be forthcoming about July l..
The estimate Of the earnings presented
was based on the assumption that divi-
dends declared by the British com
panies. from which tho international
Mercantile Marine Company derives the
greater part Of its income, must of ne
cessity be on conservative basis.
Tax CurtaiIs Profits
The increase from 60 TO so per cent
in the British excess profits tax, which
became effective January ] this year,
will have the effect of further curtail-
ing the earnings OF the British COM
panies for 1917. and this fact, together
with grave uncertainties surrounding
shipping, caused the directors TO reach
the conclusion that sit is unwse to at
tempt TO formulate any plan for the
liquidation Of the accrued dividends on
the preferred stock; and it has there
fore been decided to leave the matter
in allegiance"
During October. 1916. the bonded in
debtedness of the international Mer-
camille Marine Company was reduced
from 100000 TO S40,000,000 in ac-
cordance with the plan of reorganiza-
ton. In order TO accomplish this it
was necessary 10 borrow S6,000,000,
which loan has since been paid off.
The result of operating the lnterna-
tional Mercantile Marine Company and
its British subsidiary companies, in
Guiding the Frederick Leyland e. Co.,
Ltd. american Line. Red Star Line,
White Star Line. Atlantic Transport
Line, Dominion Line and Leyland Line +,
during the year 1916 was as follows:
Estimated gross earnings
after providing for British
excess profits duty. S87, 1857 ,564
Deduct:
Gross operating and general
expenses, including income
tax and interest on de-
benture bonds of subsidi-
airy companies. .......... 54,3oe ,Se1
Estimated net earnings. S33, 66O,672
Deduct:
|. II. NJ. Co., bond
interest .......S3,1e1,5S8
Depreciation on
steamers ...... 4,169,488
7,3et,o7e
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-06-05
Quoted dollars TO the pound.)

Below is given the current exchange
value Of foreign money in dollars and
cents, together with the intrinsic gold
parity, as calculated by the United
States Mint:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-06-05
Current
pYchaupo

The above rates express the cost Of
foreign money in terms Of the Amori-
can dollar. You buy an English pound
sterling at, say. $i.75G. The intrinsic
parity - S4.sG% per pound. Thus, you
say either that pounds are at n dis
count or that dollars are ut ~ pre-
MUM. which ia owing 90 the fact that
in England the demand FOR dollars
with which 20 settle accounts IN this
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, 1917-06-05

Net result.............. .S26, zoo, 595
Retiring members of the board Of
directors were reelected as follows:
Edward Charles Grenfell. Lord Pirrie,
J. P. Morgan, Harold A. Sanderson and
Charles Steele.
While estimates of the company's
earnings have been undergoing a
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-06-05
Elections

Members of the New York Produce
Exchange have elected the following
officers for the ensuing year:
President, Richard A. Claybrook; vice
president. Edward Flash, jr.: treasurer,
Edward r. Carhart; board of managers,
Edwin r. Freeman, J.. w. Forbell,
George w. Blanchard, w. A. Johns, J.
Barstow Smull. Lyndon Arnold, and
trustee of gratuity fund, John V.
Jewell
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-06-05
Relevant Facts

Etna Explosives order that the
company's contract with the French
government for the sale Of 100000
pounds of trinitrotoloul month as
long as the war lasts may be carried
out, the Federal District Court at New
York yesterday authorized the receiv-
ers Of the Ktna Explosives Company
to enter into a contract with the Pitts
burgh By-Product Coke Company FOR
the purchase of quantity of toluene
at SIPS a gallon, solvent naphtha at IL
cents a gallon and benzinc at 45 cents
gallon, which products are utilized
in the manufacture Of "T. y. IT,
Under a previous contract the com
pany paid $3.0j a gallon for toluenc,
% cents gallon for solvent naphtha
and 80 cents a gallon for benzlne.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-06-05
News Digest
Foreign

London Stock Market Unsettled
London, June Apart from Russian
issues, which were heavy on the latest
news, the stock market to-day had a
generally good tone. The reinvest-
ment of dividends on a larger scale
strengthened gilt edged securities,
while shipping shares were quite ac-
tive, especially Prince Line and Gun
ards. Oil stocks reacted under proht
taking, but rubbers were steady:
American securities declined and
closed undecided.
Paris BOurse.-Paris, June 4.-Trad-
ing was quiet on the Bourse to-day.
Three per cent renteS. 81 francs for
cash. Exchange on London. 27 francs
Is confines. Five per cent loan, 81
francs 95 centimes.
German Bank Statement Berlin.
via London. June 4.-The statement of
the Imperial Bank of Germany. issued
May 81, shows the following changes
Tin marks:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-06-05

Frederick B. Lincoln, general man
ager of the Eastern lines of the Erie
Railroad Company, has been elected
president of the Pittsburgh Ter
minal Railroad and Coal Company, in
charge of operation.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-06-05
.s71e,5a5,e75 s74s,e7e,173

Gold Currents.-A transfer Of So
600, 900 of gold intended for export to
Japan was made yesterday from the
Sub Treasury here to San Francisco,
and gold coin in the sum of 100000
was withdrawn for shipment to Spain.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-06-05

Sub-Treasury.-New York banks lost
to Sub-Treasury $7,7O2,000.
Silver.-Bars in London, $685. pence;
New York, 1914 cents; Mexican dollars,
$50 cents.
National Bank Note Circulation
The amount of national bank notes
outstanding June ] compares with that
of year ago as follows:
1917. 1916.
Secured by U.
s. bonds. S666, BATH s6o6,63A, 1903
Secured by
lawfT money 50,24t,2o2 62,o45,o7o
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-06-05
London Money Market.-London

London Money Market.-London,
June Mooney was in good supply
and discount rates were steady.
Rubles continued to depreciate and
they were quoted at 1873. Money, 304
per cent. Discount rates-Short bills,
11-16 per cent; three month bills,
42i per cent. Gold premiums at Lis
bon So,
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-06-05
Days -N
Over Over Over

Bank Clearings.-The days clearings
at New York and other cities:
Exchanges. Balances.
New York. ..... S435,241 $50 S37,629,724
Baltimore .... 7,o29,S24 1,291,844
Boston ....... 35,464.157 9,430,155
Philadelphia -. 58,e48,920 7,6o5,89l
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-06-05
Corporation Returns

New York. Susquehsnns & Western
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-06-05
CASTOR, Williams & wigmore. Net

earnings of this company for April
were S4OO,17S, or the largest ever re-
ported in any single month. Untitled
orders on hand May 16 totalled S2l,-
100000, compared with s23,765,O0O on
April Is. The balance sheet as of
April 80 showed net quick assets OF
over S16,000,000
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-06-05

Copper Production.-Total output of
the principal copper mines of North
and South America for the first four
months of the current year ran in the
neighborhood of 100000 pounds.
In the month of January 176,967 PA
pounds were produced; in February,
162,354,905 pounds; March, 1922
100 pounds, and April, 1s6,O14,2S6
pounds. Anaconda heads the list, with
a total output of around 100000
pounds, while the Phelps-Dodge Cor
poration properties were second, with
a total of 64,0O0,O0O pounds.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-06-05

Pan-American Petroleum and Trans
port Company.-The first annual re-
port. covering 1916 operations, shows
gross income amounting TO S598,SO
and net earnings of S527 ,226. The sur
plus after payment Of preferred divi-
dends totalled $64,32S.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-06-05

contracts for railroad equipment placed
with mills and shops since January J
are placed by Dow, Jones & Co. a.
1921, 200 900, Of which Sl43, 100000 -
for cars, S125, 100000 for locomotives,
$50 ,O0O,0 900 for rails and the balance
for bridges, terminal work and track
supplies. The making of this equip
ment has caused draft on the steel
mills for 2,51S,000 tons. OF this LIB
600 tons will be rolled into rails, 49,
900 tons into bars, plates and shapes
for cars, 100000 tons into forgings,
castings and rolled shapes for locomo-
tives, and the balance into structural
shapes for bridges and into various
forms for track supplies.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-06-05

Jewel Tea,-Sales of, this company
for the four weeks ended May 10 were
s1,1S6,259, compared with SSS9,1S4 for
the corresponding period of 1915, an
increase of S297 ,075, or 1874 per cent.
Sales for the twenty weeks ended May
10 were $685., i25, an increase of ST.
700,624, or 1895 per cent.
El Paso herald. (El Paso, Tex.) 1901-1931, 1917-04-02

Downtown store Room, For Rent, with
Basement 30xs0. EOS Texas St.-Ady.
El Paso herald. (El Paso, Tex.) 1901-1931, 1917-04-02

circle around the sun like the piroguez
Of South Sea islanders around their
ocean-girt islet- a new comet appears
like a strange sail from a mysterious
world beyond the horizon. Sometimes
one OF these visiting comets has hair
breadth escapes and exciting adven-
lures that recall the voyages Of the
early navigators. A considerable mum
Der have been made slaves to the sun
and playthings for some Of the planets.
and il is these captives which consti-
tute the periodical comets"
The great slave-maker inhabiting
our solar islet in this South sea OF
interstellar space is the planet Jupiter.
Because Of his great mass and his Ia
vOrable situation, he has not only
caught more comet-slaves than all the
other planets put together, but con-
stantly he steals away a slave that
another has seized About 80 comets
are in Jupiter's corral No other planet
has more than two. except Neptune,
which has six. including Haliey's. the
biggest Of all these helots OF the sky.
The operation Of cOmet-catching,
stealing and dragooning as practised
by Jupiter is a simple application of
the law Of gravitation. II a comet,
El Paso herald. (El Paso, Tex.) 1901-1931, 1917-04-02
BEAUTY CHATS.
Double Chins.
e1HERE are any number Of adv

@%HERE are any number OF adver-
used appliances for curing eou-
i bic chins. Some are harmless
most are expensive The best and least
extensive methods is to battle the chin
with very hot water and soap, and to
massage away the warm moist flesh
with the fingers. This massage breaks
Nd the fat particles under the skin. and
causes them to scatter. A general re-
duction diet should be followed at the
same time. for the person with a dou-
Bile chin IS usually burdened with fat
There are exceptions. OF course Many
thin women have double chins because
they hold their heads wrong. dropped
forward, so the chin says. and so flesh
collects under II, giving the ugly dou-