davidaulloa/AmericanStories huggingface dataset:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-08-09
Relevant Facts

Adams Express.--The board of man
ayers has declared a dividend of Sl.5O
share out of accumulated surplus,
payable September to stockholders OF
record August 10.
Morton F. Plant yesterday was elect
ed n member of the board.
Chile Copper.-For the month Of July
total output Of copper amounted to
6,25O,000 pounds, compared with 6,ll4,-
900 pounds in June, S,250,000 pounds IN
May and 3,574,000 pounds in July a
year ago.
Milliken Observation-Disclosures have
voted 70 liquidate the company's bust
ness and to distribute the proceeds
among the stockholders. A meeting Of
the shareholders will be held on August
90 TO take action on the boards rec
ommendation. II is announced that at
present the company has contracts on
its books which will probably require
six months TO complete.
Dividends Passed.-Directors OF the
Automatic Electric Company, 1t was
announced yesterday, have passed the
quarterly dividend of / per cent due
at this time.
The Dome Mines Company has passed
the quarterly dividend due TO be de-
clared. In the preceding quarter a div
idend of 20 cents share was paid.
Cerro de Pasco Mining.-An extra
dividend Of 30 cents share and
quarterly dividend of 81 share, pay.
able September 1 to stockholders OF
record August II.
More Securities Listed.-The govern
ing committee Of the Stock Exchange
Yesterday admitted TO trading the fol-
lowing securities: sl9,598,6O0 per
cent ffty-year Series d convertible
bonds of the Erie Railroad Company,
s46,256,400 first mortgage thirty-year
per cent bonds Of the American Smelt-
ing and Refining Company, s2,O72,SOO
temporary certificates interchangeable
into stock Of the Pond Creek Coal Com
pany. and 100000 additional first
consolidated mortgage 5 per cent bonds
of the Nashville, Chattanooga st.
Louis Railway.
Sinclair Oil and Refining Corporation.
Gross income for the quarter ended
June 80 was S3,075, 636. Deductions to-
tailed S42O,966, including Federal taxes,
excess profits tax and interest on bonds
and notes. These deductions left net
income for the quarter of $2654,669.
At the regular meeting of directors yes
terday G.. Herman Kinnicutt, of Kissel,
Kinnicutt & Co., was elected a director
to succeed S. l.. Fuller, of the same
firm. The following directors were
elected members of the finance commit
tee: II. F. Sinclair, chairman; J.
Fletcher Farrell, Joseph VI. Cudahy, G.
". Dawson, G. Herman Kinnicutt, AL
bert Strauss and Ray Morris.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-08-09
Corporation Returns
Dividends

United Cigar Stercs.-Rssular eosn
dividend OF N per cent on the prI.,
stock, payable September Is 70 secSAn''s
Of record August 81.
Electric Observation-Disclosures OF -,
cent on the preferred stock. payable hSs
% to stockholders Of record August IL
Hartman Cerpsratien.-Resular guar
dividend Of fi.2S. payable September
stockholders Of record August 10
r. W. weolvorth.-Regulara usrsfv a.. .,.
dend Of IA per cent on preferred s'oesj
able October l 70 stockholders OF Teso'e ."
TENDER 10.
American EIprsss.--Resular gasrtsly q
idend Of 81. so q share, payable oetoo<'
stool holders Of record August ii.
United ststes Cypsum.-Rssulsr aust.5
dividend OF IN per cent on the era'iSsu,
stock, payable September 30 70 stoesno'
Of record September u.
Middle West Uuliuss.-Rsgulsr ovs.J
dividend Of IL, per cent on me pI1,, Il
stock. payable September to ssoekho''''' '
record August IL.
Miles ment-Fend.-Qusrtsrly dirieen.,
per cent on the common stock. Sc
September 20 TO stoekholders OF rssois
tsmber s. and quarterly divtdend o. 49,,
cent on the preferred stock. payable h's
20 to stockholders Of record August "
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-08-09
News Digest
Foreign

London Market Chesrful.-LoNpOA
Aug. s.-The stock market continues
cheerful, though quiet, to-day. VIII
renewed support to all war loans 'r'
a rise in Russian shares the chile
features. Several industrial and ship
ping shares were in demand, but Seas
dinavian issues were weak, following
the recovery in exchange.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-08-09
Subscriptions for
Treasury Notes
Total $361,525,OOO

WASHINGTON, Aug. s.-Over-sub-
scription Of the s3OO,OOO,0OO issue Of
short term Treasury certificates Of in
debtedhess, Secretary McAdoo an
nounced to-day, was SCI, 525,O00, more
than 20 per cent. Allotments will be
approximately SO per cent Of subscrip-
tons.
Every Federal Reserve Bank. it was
announced, exceeded the allotment
which tentatively was given it at the
time the issue was announced.
Distribution Of the issue among Re-
serve Banks districts was not an
nounced, but it is understood that the
New York district oversubscr:bed its
allotment by higher percentage than
any other.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-08-09
Wednesday, August 8, 1917

A few days ago Charles NJ. Schwab
was quoted as saying that he felt
government activities at Bethlehem
had ruined his life's work. Wall
Street was still talking about that,
when shortly before the close of the
market the news ticker spelled out
the following:
The Bethlehem Steel Company, de-
claring that its cost of rail produc-
ton is over S3S for Bessemer and
over $40 for open hearth steel, has
refused to accept its proportion Of
the 100000 tons Of rails ordered by
the United States government for
export TO France. unless a more equl-
table price is allowed by the Wash
irgton authorities. This report. cir
culated in the steel trade to-day, was
Of unusual interest and aroused con-
siderable comment. Within the last
few days small lots of rails were
sold at $50 TO 500 per ton, and in
one instance a sale was made of Sl23
per ton.
This, accepted at its face value, as
it was, gave promise of wholly unex-
pected developments in the price fix
ing controversy, since it seemed OBJ
vious, if the report were correct,
that the government must either
abandon or drastically revise its
price fixing scheme, or else comman-
deer the plants Of the Bethlehem
and any other steel makers who
might take a similar stand. Pro-
fessional stock traders, who are
making the market these days, have
little hope that the Administration
will accept the first alternative.
Consequently, there was sponta-
neous rush TO sell stocks, and par
ticularly the stocks of the industrial
corporations which would be most
affected. A sharp break in values
resulted, with pressure continuing
until the gong sounded the end of
the days session. With the Bethle-
hem issues leading, the whole mar
ket sagged, some of the equipment
and war order stocks sustaining Sc
we're declines. The net results Of
the days trading in the leading steel
issues is shown below:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-08-09
Other Cities

Elected Governor Of Reserve Bank
SAN FRANCISCO, Aug. s.-Jsm" B.
Lynch, vice-president Of the First NJ
tional Bank. has been elected governor
of tho Federal Reserve Bank OF S'
Francisco, TO succeed Archibald kain'
who resigned early In July 70 bseon'
president Of the American Fereir
Banking Corporation. Of New York
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-08-09
Chinese Railway Earnings

Consul General Thomas Summons re-
ports from Shanghai that the total In
come derived from Chinese railways
during 1915 amounted TO sS0,ssT,&7l
an increase Of s2,4l5,sOo compared with
1918. The total expenditure incurred
was sl4,sss,6l4. or s265,l4o les. than
the previous year.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-08-09

The above rates express the cost Of
foreign money in terms of the Ameri-
can dollar. You buy an English pound
sterling at, say, s4.75is. The intrinsic
parity is s4.S6% per pound. Thus, you
say either that pounds are at dis
count or that dollars are at a pre-
MUM, which is owing to the fact that
in England the demand for dollars
with which to 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, 1917-08-09
The Dollar in Foreign Exchange

Weakness Of French and Italian ex-
change furnished the chief develop
ment Of importance in the local market
yesterday. The downward trend OF
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-08-09
Elections

Ronald NJ. Byrnes has been el'e'f'
yice-president Of the National CIV
Company.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-08-09
American Foreign
Securities Corp.
Earns S7,250,OOO
Report Shows Increase in
Value of Collateral Back
of French Loan

The American Foreign Securities Cor
poration, organized a year ago by a
powerful American banking group,
headed by J. P. Morgan & Co., for the
purpose of loaning s1OO,OOO,OO0 to the
French government, issued its first an
nual report yesterday. showing a bal
ance available for dividends Of sl,Ol3,-
III, after providing for various charges.
The regular semi-annual dividend of 8
per cent, payable August l5 has been
declared.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-08-09

Possibly those in charge Of the
price fixing programme are using all
possible diligence, but, whether that
be true or not, it is certain that every
day of delay in arriving at solu-
ton Of the problem is proving costly
to industry. Buyers of iron and
steel are holding back, and in turn
buyers of the products fabricated
therefrom, as hardware and the like,
are keeping out of the market. The
result is a general feeling Of uncer-
tainty, which cannot fail to have an
unfavorable influence even on unre-
lated trade. "The Iron Age" says:
Repeated outgivings from Wash
ington of sweeping action intended
in the governments dealings with
steel makers and the reiteration Of
the Presidents call for 'one price for
ALI have only added to the uncer-
tainty that is holding back all iron
and steel markets. Price changes
have been narrow, apart from semi
finished steel, in which offerings
have been made at $40 TO SIS a ton
below the recent high level of 500
for billets and s105 for sheet bars.
at IL known that buying for the
Allies is held up by the steel cost
inquiry and that more time will be
necessary for the latter than was
counted on. Meanwhile, official state
ments Of steps that will be taken in
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-08-09
Surplus After Dividend

The company received interest
amounting to s7,25O,OOO on the loan
granted to the French government. and
s66,08l in interest on bank balances
Interest paid out on the three-year 5
per cent collateral notes of the COM
pany, less interest on notes purchased
amounted to s4,7OS,55O. Other charges
brought the total expenses for the wear
up to s6,302,904 After paying diyi-
dends Of sl,000,0O0, the surplus left was
SHIFT.
Organization of the corporation in
July, 1916, and the transaction whereby
1t was enabled to advance Sl0O, 900. 900
to France, furnished one of the most
Interesting and unique developments in
the American financial markets prior to
the entrance of the United States into
the war. France was hard pressed for
funds with which to pay for materials
bought in this market, and it was not
feasible at the time to float a straight
loan. Therefore, the bankers intro
duccd and carried through a plan in
volving the organization of the Ameri-
can Foreign Securities Corporation.
with capital of s1O,OOO,OO0.
Substitutions in Collateral
To provide the 100000 900 desired
by the French government, the com
pany, after its organization, issued and
sold TO syndicate s94,50O,OO of its
own threc-year per cent collateral
gold notes. The proceeds of the notes
and the Sl0,0O0,00O realized from the
sale Of the capital stock furnished a
combined amount sufficient to make the
loan. As security back of it's own notes
the company received from the French
government securities having a value
Of Sl20,000,000, which were deposited a
collateral. The annual report saws the
market value of the securities on July
81 was computed at Sl20,557,O75. Dur
ing the year, at the request Of the rep
resentative Of the French government
nineteen substitutions of collateral
were made, the value of the securities
substituted being s37o,093.
From the income from the loan TO the
French government the company set
aside S1,473,4l5 for amortizing a rata.
bic proportion of the company's in
debtedness.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-08-09
American Banking
Service with France

IN recognition of the increasing importance Of
American commercial and financial relations
with France and Of the opportunity afforded for
serving American business interests the Guaranty
Trust Company of New York has opened an
Office in Paris.
1t is fully equipped banking institution,
similar to our London Office. 1t enables US to
give direct service and to handle more expedi-
touslv large volume Of business with France.
Propositions regarding foreign business may
be made at our office in Paris or at our main Office
in New York and definite terms can thus be ar
ranged more quickly than by cable or mail.
American business concerns and individuals
having interests abroad will find 1t to their
venence and advantage to bank with our Paris
Office 1t will be our effort to be useful in every
possible way to American citizens travelling
abroad and to those with the armies in France.
A few Of the many services to France
together with abstract covering some OF her achieve
men,. in industry, commerce, and finance, are SET forth
in booklet, France and America, just issued by this
COMPANY which will be request.
Guaranty Trust Company Of New York
40 Broadway
PARIS OFFICE FIFTH OFFICE LONDON oFrcI
Fifth Av. +'rd St. '7L.nssrd ST. &c
Capital and Surplus $5O,O00,000
Resources more than $6O0,0OO,0O0
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-08-09

Had it not been for the fact that
there were considerable short inter-
ests in most of these issues the break
might have been more severe. AS it
was, profit taking by those who had
previously sold short for the fall
gave some support to the market.
A great many of those who inter
FRET all events in terms Of stock
market prices believe that serious
upset may ensue if the government
persists in it's scheme Of fixing prices
for all consumers of steel and cop
per. Their theory is that in the end
any such plan will have to be aban-
doned, because it will meet with in
surmountable obstacles, but that
meanwhile the industries directly af-
fected will be demoralized. The
naming Of an arbitrary price for
any product, unless 1t be extraordi-
narily high, is scarcely feasible, it
is argued, because the thing which
is essential at this time is maximum
production, and variations in cost
are so wide that price which would
afford large profits to one producer
would mean loss TO others, so that
production inevitably would be cur
tailed. To fix prices on government
requirements on basis of cost plus
an agreed percentage or sum, though
not necessarily fair, is generally
conceded to be feasible, because the
government can allot tonnages to in
dividual plants in proportion to their
output Of a given product. 1t is i'm
possible for private consumers to
adopt any such plan, however, even
if they we're willing to do so. The
main result would probably be to
throw the whole industry into utter
confusion.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-08-09

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: Current
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-08-09

Sub Treasury. 49, New York banks
gained from the SubTreasury $500
600.
Silver.-Bars in London, 4l7sd; New
York, S2Ia cents; Mexican dollars, 63Si
cents. Yesterdays price for CONNER
cial bar silver in this market repre-
scented an advance from Tuesday OF q
cents an ounce. The present price is II
new high record for the movement.
Gold Currcnts.-The local Sub-Trcas-
ury transferred 1880, 00G to San Fran
cisco yesterday for the account Of local
japanese bankers, who are forwarding
that amount of gold 10 Japan.
London Money Market. 49, London
Aug. S.--Money was plentiful to-day,
and discount rates were quiet owing to
the scarcity OF bills. The losning rate
was unchanged at per cent. Short
bills were quoted in the discount mar
ket at "A per cent.
Treasury returns show that revenue
is accumulating freely, especially
through Treasury bills, Of which $751;
00O,000 were sold last week.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-08-09
Money and Credit.

The fact that payments are due to-
day from the banks on the subscrip-
tions 70 the latest $500, 100000 issue of
United States Treasury certificates OF
indebtedness was not reflected in the
local money market situation yester-
day. At least rates showed no i'm
portant change.
Call money at the Stock Exchange
was a trifle firmer, if anything, although
the ruling rate remained unchanged
from the preceding day at 2h per cent.
The high for the day was 8 per cent.
In the market for time loans based on
Stock Exchange collateral, rates were
steady, ranging from to 4& per cent.
offerings Of funds for the longer ma
turtles are still limited.
Ruling rates for money yesterday,
compared with year ago, were as fol-
lows:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-08-09

Commercial Paper.-The market was
dull yesterday, with six months paper
offered at Az to per cent. The UNI
dertone continued firm.
Official rates of discount Of each Of
the twelve Federal districts are as fol-
lows:
Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1917-10-21
BUSY, HARD WORKED
MEN AND WOMEN

VIII ind that the sarsaparilla. nens,n
nux and iron treatment comprised In
HOODS Sarsaparilia and Peptiron will
give brain and nerve force, relieve W.
nervous strain Incident TO too snuc,, ~
DO In too little time" characteristic OF
life to-day.
These blood and nerve medic,n..
seem to lift the nervous and over
worked Into new life. enabling them -
accomplish easily the things that have
fretted them nnd have seemed 10 bring
them TO n standstiiI.
Hoods Sarsaparilla and Peptiron az.
very effectively supplemented py HOOD.
pills. in casen where u laxative Ia ncsdN
Cd. These three preparations ara all
sold by your druggist Got them 70.
URS ''> W.
Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1917-10-21
BoMBs FAL.LIN SHOPPING -
~ 80 DISTRICT. O i, LONDON


LONDON October so.---Of the, twenty
seven deaths ofTcially' reported as the
result Of last nights. air raid. seven
persons were killed outright by bombs
that fell in the shopping district Of
London and thirteen. by a torpedo.
which destroyed .threa houses In the
residential quarter. or the latter vic
Tins, eight belonged 10 one family
mother and her infant. four girls
and two boys. A lodger in the same
house also was Killed.
it Is reported from an enstern county
'hat seven leppelins remained over
head there. for several hours last night
and Edropped nifty bombs including a
nurlbc. Of an inccndiary nature. No
casualties resulted. but a farm build
inE and an inn were dam ged and two
horaes' were killed In field. aIost .of,
the bonus dropped in the oper, coiiin-
try. Us - =
Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1917-10-21
TO CLASSIFY REMAINING
REGlSTRANTS IN ORDER
OF SERVICE. LIABILITY

Continued from First Page)
o".rds winch from numerical view
point is OF the strength OF an army
division; many OF these officials have
hecn clamoring for relief OIL account
OF tho drain on their time, and the
now systcm will make it easily pos
sibie for them to continue their du-
ties for which ::.ey have proven them
selves eminentiy httcd.
FINES EACH MANS STATUS
FOR MEDICAL EXAMINATION
Another problem solved was the
question OF eNpcdicncy OF continuing
the examination OF the entire regis
try, thus fixing each mans status. This
would have involved medical exam
ination of each man. whose physical
condition m!ght change from day to
day. Thus making this great undertake
as valueless.
Again under the old system OF ex-
cmption and discharge il would have
bden necessary IL The national need re-
CURED il. to send for ,he exempted man
TO return for physical re-e1amination.
or family status might have changed,
thus involving endless appeals and con-
fusion.
1.-The new system fixes a mans CLASH
and calls him in his proper turn when
he is needed. He will be examined
physically only when needed. Thus the
iabors OF the medical officers will be
called Tor only when required. If tho
ration needs, 100000 man. they will
RESPOND each in his turn Fixed by his
class. Z.
THE man who can least be spared
either Is the head OF a family or the
head of II business necessary TO the
dcfense OF the nation, will be the las,
10 go.
The new plan Is bein. made ready
:or the printer and will be submitted
10 the local and d.Htric; boards In
ample time TO enable them to familiar.
ize themselves with It,"
Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1917-10-21
FIGHTING ON hfsNF

PARIS, October 2o-Heavy artillery
fighting la In progress ON the Aisne
and Ferdun fronts says tn.day's Official
communication.
On the Aisne front there were yio-
lent artillery actions. especially in the
sector OF Mcnnejcan farm" Says tho
statement. Strong enemy patrols.
which attempted to approach our lines
In thia region, were repulsad.. The
enomy lefr-prisoners in our hands and
suffered appreciabIe losses. Tl sE
On the right bank of the Meuse
Werdun ii'onp the. artillery lighting
was spirited north OF BeEonvaux ana
in the Carr:eres wood. r.tfiEFS "
There is nothing to report from the
remainder Of tho front"
Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1917-10-21

ent, that NTH Zeppelin was destroyed
ut NEUTRALITY-SUSPICIOUS.. (This prob
ably refers to the Zeppelin brought
down at Rainbervillers, near tho AL
satan border.)
There wore eloven zeppelins in the
original group that appeared over
French territory. Reuters Correspond
ont teleEraphed later. and thoy scat
tered over various parts of tho country
when attacked after a general warn
ing was sent out. They dropped no
bombs in Franco. His later statement
said:
Tho approach Of eleven zeppelins
was signaled throughout Franco late
In the evening. At once the air de-
Tense squadrons and batteries NIL over
tho country were warned, and the
enemys airships were attacked and
scattered NIL over France like a flock
OF frightened birds.
'One Zeppelin was brought down at
ST. Clement, near Lunevillo, by anti
aircraft guns. Two others wore
brought down or forced 10 land. ono a,
FerEeannes t?}. In the Department OF
Cote dor. and the othor at I.amRrche
Haute-Marne. One OF these was
damaged by French airman and the
other by guns. A fourth Zeppelin,
after being chased throughout centra,
Franco through the dietricts of Lyons
Dion and st. Marcelln. was brought
down at Gap. In the Hautes- Alpes
NO bombs were dropped In Francs
by the Zeppnlins. which were rrac-
tionllY at tho mercy Of tho French All
Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1917-10-21
CONDEMNS AGITATION
=: .GhHatED opa IN AxHlY

FrRoGE:Ap. ,oGtoaer r2o.-General
~ iBy Associated Preas1
Ichfremissoft commander on the Rus
sian northern front. has: issued an
order OF the day conhsmninE the agi,a-
tionsbeiRs carried out among the SOL
diers=of the northern army re states
that ar:tators are spreading runo:s
that Gil the soidiers are preparing 10
leave the trenches at Given date. 9
The c'ftcuity,of enforcing discipline
in the army Is illustrated by the ac-
auittal AZ Kiev OF eighty grenadiers.
who mutlniea AT the time Of the enemy
offensive against Tarropolr It is al
legged that the jury which acquitted
theiD was con- Dused Of Maximalis,s, or
mad been terrNriHed.