davidaulloa/AmericanStories huggingface dataset:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-09-26
Copper Men Discuss
Trade Acceptance
AS Business Aid
Payment for Government
Purchases With Discount
able Paper Suggested

Representatives of the leading Amer
lean copper producing and refining in
terests discussed the advisability OF
general introduction of trade ac-
ceptances into the copper business at 4
luncheon given yesterday at India
House by Leopold Friedrich, Of the
American Smelling and Refining Com
pany. The companies represented at
the meeting included the American
Smelling and Refining, the United
Metals Selling Company. the American
Metal Company, Inc, the Calumet and
Hecla Mining Company, Adolph Lew
isohn & Sons and l.. Vogelstein & Co.
r. II. fireman. deputy governor OF the
Federal Reserve Bank of New York, VINO
was present, discussed the value and
Importance of the trade acceptance as
a credit instrument.
Mr.. Friedrich pointed out that the
adoption of the trade acceptance IN the
metal business would add many mill
ions of dollars Of prime acceptances TO
the market. One of the speakers suS-
gested that the United States govern
ment give a trade acceptance for all
goods shipped, so that the sellers wou ID
be able TO get their money immediately
by discounting this paper at their
banks.
The question of the arrival at des-
tination" Of metal shipments was an
other topic discussed at the meeting.
At present, when a car of metal is sent
to a customer, the dating of the thirty
or ninety days at which the material is
sold begins only when the car has
actually reached the plant Of the buyer.
This custom, it is stated, leads to many
abuses from which not only the seller,
but also the railroads, suffer heavily, as
II sometimes happens that customers
let the cars stand on siding for
DAYS. often weeks, thus locking up a
large amount Of cash and many freight
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-09-26
City Revenue Bills
Sell at Good Rate
j. P. Morgan & Co. Are
Awarded Bulk Of $751;
100000 Offering

J. P. Morgan & Co. were the sue
cessful bidders for all but 100000
of the s15,O00,O0O Of New York City
revenue bills offered for sale yester-
day by Deputy Controller Fisher. The
bills mature December 5. In all twenty
three bids were received. The Morgan
firm was awarded S5,0O0,OO0 at 81
per cent, S5,00O,000 at 3.S5 per cent
and SI,500,000 at 1896 per cent. Hall
garten e. Co. received the other $780,
600 at 37s per cent.
With the exception of the Morgan
and Hallgarten bids, the majority of
tenders ranged well above per cent
basis. Deputy Controller Fisher stated
that, considering the present cond-
ton of the money market and the
unsettled financial situation as a whole,
he was we'll satisfied with the result
of the Offering.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-09-26
Money and Credit

Call money at the Stock Exchange
ruled Yesterday at 4 per cent, but in
the afternoon the rate moved sharply,
owing to the paucity of offerings by
the banks, a small loan being made as
high as per cent.
The upturn in the call loan mar ket
came too late TO be reflected in time
loans based on Stock Exchange collat-
eral, rates for which held firm, how
ever, at 517 TO per cent for all matu-
rites. There has been fairly active
bidding for loans against industrial
securities as a result of the increased
activity in the stock market. This has
kept the rate for such loans at per
cent.
Ruling rates for money yesterday,
compared with year ago, were as fol-
lows:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-09-26

committee was probably because OPP
posed loading up the company with an
other coal company. which brother
in-law of one Of the leading Chicago
directors and a friend of Mr.. Patten
wanted the company TO buy about a
year ago at 5000 an acre. / know the
company could buy equally good coal
land for under $40 an acre"
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-09-26
The Dollar in Foreign Exchange.

With few exceptions exchange rates
advanced yesterday as result of a
somewhat larger demand Russian
rubles moved up to 1850 cents, COM
pared with 1880 cents on Monday.
Scandinavian exchanges were strong,
with crown checks selling at 1890
cents. French and Italian rates were
slightly better Announcement that the
government would stop all gold ship
ments to Spain brought no response in
Spanish exchange, pesetas remaining
unchanged at 1920 cents.
Closing rates yesterday, compared
with a week ago, an given in the table
below. American bankers have eus-
pended all dealings in German and
Austrian exchange, 20 that daily quota
tions for either marks or kronen are
no longer available.
A.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-09-26
Relevant Facts

Anaconda Copper-Including the
quarterly dividend Of 81 share Just
declared, the Anaconda Copper Com
panv will have paid a total OF Sl9,-
Sl5.625 to its stockholders in the form
of dividends during the current year.
This makes a grand total of sl35,e67,-
4s6 distributed in dividends since the
organization of the Anaconda company.
Superior Steel Corporations. w.
Harrison, president Of the company, IN
a statement issued yesterday SAID:
"The fixing of prices on steel will IN
doubtedly result in much new bust
ness. have inquiries for large ton
nages from a number of big buyers,
but the contracts have not been closed,
as the purchasers were waiting for
steel prices to be determined. Prices
of steel products have recently been
rather high and number of people
have held off buying. This let-up in
purchasing has helped our company
considerably in the way of catching up
on orders on hand. We still have a
large amount of orders ahead, and the
prices at which they were placed are
very good. Our price average has been
increasing from month to month,
which shows that we have been clean
ing up most of our own low-priced or
ders and turning out steel on the
higher-priced contracts.
Third Avenue-The August report
shows an increase of more than "a per
cent in gross revenues, which amounted
to S96s,776, compared with the CORE
spending month year ago, while net
earnings, after expenses and taxes,
amounting to S249,747, were 1l9 per
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-09-26

New corporate securities are COM
ing into the market in large volume,
despite the competition offered by
the huge government financing. A
Wall Street compilation shows that
in the first eight months of the cur
rent year corporation financing
amounted in the aggregate to ST.
325,000,000, of which S37O,OOO,OO0
was for refunding purposes and
1855, 100000 for new projects or the
enlargement of old ones. While a
large percentage of this total was
placed before the United States en-
tered the war, the new issues since
have been remarkably large, in view
Of the heavy demands put upon the
capital market by the government
operations. About $S50,000,000 of
the total financing for this period
was done in the first four months of
the year, leaving S4Io,OUO,OUO LOT
the succeeding four months. In July
new financing totalled Sl52,00O,0OO
and in August s161, 100000. Most of
the financing done in recent months
has been of the short-term variety
owing to the refusal of investors to
take long-term issues on reason
able interest basis. When the figures
for the current month are compiled
they will likely show falling off in
the amount of new financing, owing
to the imminence of the next gov
eminent war loan, which has now
for several weeks been restraining
influence on the Investment market.
Western railroads continue to haul
an abnormally heavy traffic load,
but the increased costs of operation
more than Offset the gain in reve-
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-09-26
Current

The above rates express the cost Of
foreign money in terms Of tho Ameri-
can dollar. You buy an English pound
sterling at, say, S4.75ia. The Intrinsic
parity is $i.S6ss per pound. Thus, you
say either that pounds are al discount
or that dollars are al premium, which
is owing 10 the fact that m 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 &C
counts in England.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-09-26
NEW YORK STOCK EXCHANGE
TRANSACTIONS

Rail- Other All
roads. stocks. stocks.
Yesterday. 129, 900 721 400 851, 800
Day before. 10000 $4,000 656,700
Week ago. 1890 574,800 648,7oo
Year ago. 1854, 800 1,245, 500 1,5o9, 300
January to date:
1917. rs, 1890 1923, 14S,3oo 138,3o5, 800
1916. .22,211,7o0 10e,o15,10o 1925, SEQ
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-09-26
Tuesday, September %, 1917


Tightening of the call money
market in the afternoon checked a
vigorous advancing movement IN
stocks. After holding steady
throughout the early hours at 4 per
cent the call loan rate suddenly
jumped to 6 per cent about an hour
before the close, and 100000 was
loaned on that basis. An odd lot,
$4,000, was placed at Z per cent, the
latter being the highest rate reached
by call money since the furry OF
July. The bulk of the call money,
about slO,OOO,OO0, loaned at per
cent. the same rate as on Monday.
Inquiry in banking circles failed to
disclose any other reason for the
sudden jump in call money rates
other than the fact that banks had
lost cash as a result of United States
government and Allied Withdrawals
of funds for disbursements in the IN
terror. The Federal Reserve Bank of
New York had credit balance at
the Clearing House of S40,OOO,OOO,
which represented this movement OF
funds. In some quarters 1t was as
serted that the banking interests
were averse to any further pro-
nounced Improvement in stock prices
at this time, and for that reason
limited their offerings of call money.
There is, and will be for some
weeks to come, a scarcity of banking
funds such as are necessary to fur
nish the sinews Of any prolonged
upward movement in stock prices.
The present condition of the money
market can best be judged from the
rate the government will pay on its
new issue of s4O0,000,000 of Treas
ury certificates of Indebtedness,
This has been fixed at per cent, or
one-half Of l per cent above the rate
on the last s3o0,OOO,ooo issued. The
first issue of certificates of indebted
ness, put out shortly after the
United States entered the war, was
sold on a 8 per cent basis.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-09-26

Commercial Paper.-A fair amount OF
commercial paper was placed yesterday
on basis of 5i2 per cent.
Official rates of discount for each Of
the twelve Federal districts are as fol-
lows
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-09-26

Below is given the current exchange
value of foreign money in dollars and
cents. together with the intrinsic gold
rarity, as calculated by the United
States Mint:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-09-26

A correspondent writes; Since
the money the government will raise
by the coming bond issue will be
spent for supplies, and will thus find
its way back into the banks, why
should there not be ample funds to
finance a real bull market, since
stocks are so absurdly low and all
other conditions highly favorable?'
This is a question that many Wall
Street persons have been asking.
The answer is, Of course, that the
banks have something Of far greater
Importance on hand than financing
Wall Street speculation on the scale
that many holders Of securities
would wish. All the banking credit
and funds that can be marshalled
will be needed to help the govern
ment win the war. The business of
war gets first call on the countrys
/ financial resources. While a certain
amount of cheerfulness is needed in
the security markets to help the
government float its war loans, it is
extremely doubtful whether any riot.
Gus speculative outburst would bt
countenanced by the powers that be
There are many people, and some Of
these in the stock brokerage bust
ness, who have held that it would
be extremely unpatriotic for Wal
Street to indulge its appetite fol
speculation at this time, even Il
money market conditions would per
nit. And, after all, it might be dan
gerous were the stock market giver
free rein in a time when so many un
certainties are arising day by day
In Europe they are still keeping Ger
tain restrictions on trading in thei,
security markets.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-09-26

Sales. High. Low. Close CnY
1900 Sup Steel. 48 49, 46H2- "a
100 do pr. 1909 1907 ioola-'h
5000 Studebak'r 48 46l2 +6Ir
100 T Cop & C. 1875 1874 l5's+ -
2sOO Texas Co. 1863 1865 16s ~
100 Sd Az r R 2oIs 2oIs 2os+
10000 lob Prod. 70 7oss 72ll-.H
100 & W Stl 44l4 43 44I2+Et
$500 Tn Pac. 1872 i3oa4 13l14-
700 do pr. 70 NI2 70 -
300 U Al Steel ~ - -
1l4OO U Cigar S.t2oIa t17Is ttsl4+ "a
1900 U Ry Inv. 10 9 si-A
400 do pr. 10 1872 is z
500 USCIP&F. 17a4 t71s 17ls",
$500 U S In Alc.t42 1879 1909 =
5000 U S Rub. STA 5s'4 6ola- =
200 do l pr. 1885 1o32s 1855,
7OOU SS& R 66 IS 65
2453OO L Steel.tt324 III, il2I2- -
500 do pr...117 1888 ~ 49,
5000 Utah Cop. 1854 s5Ia s51s-n
100 Va Car Oh 3Sl4 3SlI 3S4- -
200 VaICS C 60 SO so r.
100 Wabash. =. f034 1854 loS4 -
800 do pr A. 48s4 48lA 4SIa- 20
500 do pr B. 253s 25la 1921 -
400 West Md. 1873 173a 1881 ~
200 do 2 pr. 271s 27'4 IT'S 70
200 W Tn Tel 1914 SO -
$500 Wise Mfg 47aa 451s $685. -
200 Wilson Co 81 81 o.
..sy "
300 W & L E. 1885 129s 1871 ~
SOC do pr. q 70 n =
$500 WHY'S Ov 28'4 % 28
1900 Wis Cent. asa asa 4o14- -
100 Wrworth 122l4 t22l4 RIA -,
200 w 2 q N, IS 34R 34DT 20
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-09-26

Western railroads continue to haul
an abnormally heavy traffic load,
but the increased costs of operation
more than offset the gain in reve-
nues. The August reports Of the
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-09-26

Sub-Treasury. - New York banks
gained from the Sub-Trcasury ST.
100000.
Silver.-Bars in London, sod un-
changed; New York. s1.oS1A, un-
changed; Mexican dollars, SIC, un-
changed.
Gold Currents.-The local Suh-Treas-
ury transferred 100000 to San Fran
cisco yesterday for the account of local
bankers, who will ship that amount of
gold to Japan.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-09-26
Days

Bank Clearings.-The days clearings
II New York and other cities:
Clearwater Republican. [volume] (Orofino, Idaho) 1912-1922, 1917-11-16
GRAIN AND MILLING NOTES.

]. E. Hanson has just finished 20
barrel mill at Ingomar, Mont.
The Poplar Equity Cooperative asso-
citation will build a new elevator and
flour mill at Poplar, Mont.
The Farmers Elevator Co. has
opened at Moore, Mont, under the man.
agement of N. E. Norman of Clifford.
Articles of incorporation have been
filed by the Sunrise Cereal Co. at Wal
lace Idaho, with capital Of $4,000.
The Circle Milling Co. Of Circle, Mon
tana, has been incorporated with cap
itaf of $4,000. Incorporators: M. s.
Williams of Williston, N. D.; Geo. F.
Groman of Long Beach, CAL, and Matt
Thorenson of Circle, Mont.
The Union Grain & Elevator Co. OF
McCammon, Idaho, has let the contract
for the erection of an elevator at Nc
Cannon and Virginia, Idaho. Both
buildings will be of concrete construc
ton and of about 10000 bushels capac
| ity.
Clearwater Republican. [volume] (Orofino, Idaho) 1912-1922, 1917-11-16
General Trade Conditions.

Dun's says: With the closing Of the
second war loan there has been less
interruption to business, and its devel-
opment has become more clearly de-
fined with activities again centering
in regular channels. Lower tempera-
lures are reported to have influenced
some late crops adversely, but the eff
feet elsewhere has been stimulating
and current commercial transactions
testify to remarkable we'll sustained
buying power, considering the extreme
prices.
The movement toward higher costs
has not perceptibly slackened in GER
tain leading commodities in which the
trend was recently downward, and rec
ognition that some supplies are grow
ing more limited has impelled efforts
to provide against possible scarcity OF
needed materials and merchandise.
Where shortages actually exist and
there is difficulty in augmenting pro
duction, or even maintaining 1t, the
markets have tended more strongly ir
sellers favor and further advances are
foreshadowed.
Weekly bank clearings, $5,311 ,286,
los.
Clearwater Republican. [volume] (Orofino, Idaho) 1912-1922, 1917-11-16
THE LIBERTY KNIGHTS
ARE REGULAR vIGILANTES
After Playing Agitators at Tulsa, Ok
ianoha, Citizens in Other Places
Organize Bodies.

Tulsa, Okla.-Traces of only four
of the II members of the l. w. w.
who were flogged, tarred and feather
ed and driven into the Usage hills Nov.
by party of black-robed Knights of
Liberty, are reported. A farmer sew
eral miles from Tulsa reported that
two men exhausted, shirtless and with
their backs covered by welts, tar and
feathers, had called at. his home, ask
ing for food and clothing.
Two others were arrested at Guthrie,
Okla, and put on northbound train
City and county authorities said that
so effective had been the disguise OF
the black-robed and hooded figures
that participated in the whipping that
no information had been obtainable
that might lead to identifying any
member of the party. Several letters
have been received by Tulsa newspa
pers asking for information about the
knights of Liberty, adding that it was
desired to form other bodies of the
same order.
Sheriff Graham of Washington coun
ty issued a statement urging the shoot
ing on sight Of any l. w. w. suspect
caught molesting property.
Clearwater Republican. [volume] (Orofino, Idaho) 1912-1922, 1917-11-16
GERMAN SUPPLIES
DISCOVERED IN us.
SECRET SERVICE AGENTS FIND
FOODSTUFFS THAT WERE
HIDDEN AWAY.
NOW VALUED AT $73,000,000
Expected More Will Be Uncovered
Consisted Of Sugar, Flour, Canned
Goods, Eggs and Butter
Owned by German Agents.

New York-Secret service agents
have discovered foodstuffs and other
property valued at more than $4,000.
900 stored in warehouses in this city
which has never been reported O the
government. as required under the
trading with the enemy act, it was
learned Sunday. This is only small
part OF what is expected to be uncov.
cred before the search ends.
Flour, sugar, eggs, butter and can
ned goods of various kinds are con-
tanned in the list of foodstuffs COM
piled by the sercet service men. A
large quantity of iron, steel, copper,
cotton and chemicals also have been
found, a part of which, it was an
nounced, is owned by Germans.
The value of the foodstuffs not re-
ported to the government was placed
at $3S,496.742, and the metals, cotton
and other materials at $35, 449,028.
1t was stated that one consignment
Of 700 bags of jute is known to have
been bought with money deposited
here by the Deutsches bank of Der.
lin, the official financial institution
Of the German government. About
three-Quarters of the commodities are
said to be held as collateral for loans
made by banks, but nothing regard
ing the nature of the loans could be
learned.
Clearwater Republican. [volume] (Orofino, Idaho) 1912-1922, 1917-11-16
FOR NEXT
DRAFT SELECTION
PRESIDENT WILSON ASKS EVERY.
BODY TO AID THE COVER
MENT's WORK.
LOCAL BOARDS TO GET. NOTICE
Officials in War Department Estimate
Whole Process Can Be Cleaned
( PIP in Sixty Days-call Will Be
in February Next.

Washington.-Presid Wilson for
mally put the new machinery for
carrying out the selective draft bill
into operation Monday with the pub
LEGATION of the foreward he has writ
ten to the regulations under which
the second call will be made.
The regulations themselves and the
questionaires, which more than g.
900, 900 registrants will be required
to fill out, are being forwarded to 10.
cal boards, but have not yet been
made public.
War department officials estimate
that the yhole process can be com
pleted within 60 days. This means
that no second call will be made upon
the draft forces before the middle OF
next February, as the period of clas
sification will not begin until Decem
Der Is.
The president describes the new
plan If listing all registered mel
not already modified into five elias
SEES subject to military service b!
classes as being intended to produce
"a more perfect organization of ou
man power.
Clearwater Republican. [volume] (Orofino, Idaho) 1912-1922, 1917-11-16
QUEEN LillOUkALANl OF
HAWAII DIED SUNDAY
Last vestige Of Royalty in the islands
Belonging to Unoted States Passed
Away With Her.

Honolulu, T. H.-Queen Lilioukalani
of Hawaii, whose death had been ex-
pected for several days, passed away
Sunday.
Preparations have been made for
the body to lie in state. with terri
torial guard of honor.
The funeral is to take place Nov.
Is. Meanwhile the body will lie in
state in the Kawaiahao church until
next Saturday, when 1t will be re-
moved to the throne room of the pal
ace, where the funeral services will
be held. As the last funeral of a ma.
tive monarch in Hawaii, all the pomp
of the old days will be revived and
ancient customs observed.
In recent weeks Queen Lilioukalanl
had shown striking patriotism for the
United States. She subscribed liber
ally for the Red Cross fund and the
Liberty Loan.
Liliuokalani assembled the throne OF
Hawaii January 20. 1891, Immediately
following the receipt Of news from
San Francisco that her brother. King
Kalakaua, had died there in the Pal
ace hotel nine days previously.
Clearwater Republican. [volume] (Orofino, Idaho) 1912-1922, 1917-11-16
Butter and Cheese Prices.

The total holding of butter in 1872
storage warehouses reporting, show an
increase for October l over September
of 3,354,O98 pounds, according to a
compilation made by the United
States Food Administration. HON.
ever, these houses show loss Of g.,
O64,697 pounds, as compared with the
same date in 1916, or about three per
cent.
The exports Of butter for July and
August this year decreased 2,437, 555
pounds as compared with the same
months in 1916. The exports of cheese
however, increased 3,224,694 pounds in
these months.
The average wholesale price Of but
ter for September in the United States
was 43.4S cents per pound, while thu
average retail price was so cents. TIL,
regulated wholesale price in England
was 1916 cents per pound.
The average wholesale price o
cheese in the United States during
September was 25.7S cents per pound
and the average retail price 36.1 cents
In England the regulated wholesal,
price was 3S cents per pound.
Clearwater Republican. [volume] (Orofino, Idaho) 1912-1922, 1917-11-16

II you contemplate taking flyer
in advertising, better not do it. 1t
won't get you anywhere except to the
erroneous conclusion that advertising
is of no value SO far as your bust.
ness is concerned. Advertising is not
an experiment, and not a medium to
be experimental with. The advertiser
must accept this conviction in order to
carry conviction to those whom he
wishes to reach. He must take an
active interest in his advertising in
order to command the interest OF
others. He must have definite pur
pose in order to accomplish definite
results. Effective advertising Is per
sistent and systematic. Perfunctory
advertising is waste Of money and
effort.
Clearwater Republican. [volume] (Orofino, Idaho) 1912-1922, 1917-11-16
NEW SHIPBUILDING
HEAD TAKES HOLD
Piez, Chicago Engineer, In Command
Of construction.-Navy Men
Are Relieved.

Piez, Chicago Engineer, In Command
Of construction.-Navy Men
Are Relieved.
Washington.-A complete reorgan-
ization of the shipping boards emer-
gency corporation was begun Satur-
day when Charles A. Piez, a. Chicago
engineer, recently made vice president
of the corporation, was put in supreme
command of the governments ship
building program.
Rear Admiral Washington L. Capps,
appointed by President Wilson as gen
eral manager of the corporation, sue
ceeding Major General George W.
Goethals, will continue in that posi-.
ton, but much of the work he has
done heretofore will be taken over by
Mr.. Piez. Caps denied reports that
he would resign.
Duties that have been performed by
some of Admiral Caps aides, most OF
them naval men, will be taken ovel
to large extent by engineers who
will serve with Mr.. Piez. Wooden shiI
construction will be put in charge o.
James Heyworth, a Chicago contrac
tor, who displaces Rear Admiral F. T
Bowles, retired. The building OF fabri
Gated steel ships will be under the su
pervision of Charles Day, Philadel
phia engineer.