davidaulloa/AmericanStories huggingface dataset:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-03-28
National Bank
Resources Set
A New Record
Combined Assets Exceed l6
BilIions-Not Many For
eign Securities Held

Washington. March 27.-Bonds Of
foreign governments and other foreign
securities held by national banks in
this country on March last amounted
to approximately $685., 900. or slight
ly more than per cent Of their total
resources. The increase. as compared
with December p. was $4,000 600. and
as compared with November II $40
100000. according TO a report given out
tonight by Controller Williams.
A new high record for resources has
been set, and the United States is now
ncomparably the richest nation in tho
world The assets of the national
banks aggregate more than $4,000
600. 900. exceeding by over $4,000. 900. 600
the combined resources Of the Bank OF
England, the Bank OF France. the Bank
Of Italy. the Bank Of Spain. the Bank
Of Norway, the Bank of Sweden. the
Swiss National Bank. the National
Bank of Denmark. the Bank Of Japan
and the Rcichsbsnk OF Germany.
Reports Of national banks in the
Central Reserve cities and Reserve
cities throughout the country, AZ OF
March 8. just compiled said the Con
trolcr's statement. "show that on that
date the resources Of these banks
were s2lO,OO0O0O larger than ever be-
fore in their history. the previous high
water mark having been reached No
vembcr II. 1916. The increase. as COM
pared with December p. 1916, was
$3.50 0O0.0
"The reports have thus far been
compiled for only about one-ffth of
the country banks, or banks outside of
the reserve cities. If the assets Of the
other country banks have increased at
the same rate as those thus far com
piled the total increase in country
bank resources will be approximately
$3.50, 100000. as compared with Deem
Der p. On this basis the increase in
the resources of all national banks in
central reserve and reserve cities and
country banks from December 81 to
March will approximate $730,O0O, 600,
making the total assets of all national
banks, March 3, considerably in excess
of 6,OOO,OOO,OOO.
"As the total resources of all ma
tional banks on April 4, 1913, amount
ed to only Sll.Os1 100000, the increase
of resources for the past four years
has amounted to approximately $4,000
OOO, 900"
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-03-28
Dividends

Central Leather Regular quarterly divi-
dend Of sl.25 a share on the common stock
payable May 10 stock OF record April 10.
Central g. South American Tel Regular
quarterly dividend Of y per cent. payable
April 3 to stock OF record March 81.
Anaconda Copper Mining. Quarterly divi-
dend OF g. p share, payable May IS 10 stock
Of record April p.
Eur/.a Pipe Line. Regular quarterly
divid.n1 OF 81 = share. payable May ! 20
stock Of record April IS.
Chicago Pneumatic Toor-Rcgula- quar-
terly dividend Of l per cent. payable April
70 TO stock OF record April (.
Mexican Tel.-Regua- quarterly dividend
OF ~ per cent. payable April 10 90 stock
of record March 81.
North Butte. Quarterly dividend OF 81 PEI
share payable April 30 10 stool, Of record
April II. This Is an increase OF % cents p
share
Carbon Steel. Extra dividend Of per
cent on the common stock payable MAY -
10 stock Of record May 10.
Illinois Northern Utilities. Regular quar-.
tery dividend Of J q, per cent on the pre-
ferred stocl. payable May l 20 stock Of rec
ord April 20
Alliance Realty. Regular quarterly diyi-
dend OF IL per cent. payable April 10 20
stock Of record April 10.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-03-28

A stakeholder in one of the large
copper companies enters a COM
plant. Why, he wants to know,
should the management of the com
pany in which he is interested be
patriotic at his expense? Why
should it sell its product to the gov
eminent at half the market price,
and so perhaps reduce his divi-
dends? The complaint has not a
little merit, because it is not to be
expected that all those who supply
government requirements will vol
unfairly reduce prices, and conse-
quently the burden will fall uneven
ly. If the holders of copper and
steel stocks surrender a part Of their
possible profits, there is no good rea-
son why those who produce wheat,
woollen socks, canned beef, gunpow-
der and the host Of other things the
government will need should not do
likewise. A great many will not,
however. Instead, they will eyact
the greatest profit possible. That Is
one reason why it might be better
either TO fix maximum prices for all
government supplies, or to pay mar
ket prices and take back a large
part through an excess profit tax
than to depend upon the patriotism
Of industry.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-03-28
Our Trade with Vladivostok

Quantities Of goods formerly export
cd to the United States by way of ports
in European Russia are nov forwarded
BY way Of Vladivostok, thus accounting
for the large increase in the value Of
the articles invoiced at the American
Consulate at Nladivostok for the. Unit
ed States. The total value OF these
shipments, including freight. insurance,
etc, increased from 81 1899 for 1915
TO sf.14i,6S3 for 1916. The principal
items shipped we're as follows:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-03-28
Tuesday, March p, 1917.

Net operating income of Class |
railroads in the calendar year 1916
was $1,O89,l31183, or $4,72l per
mile, compared with $685. per mile
in the preceding year, an increase Of
PA per cent. In spite of the high
er cost of materials and labor, the
ratio of expenses to gross operating
revenues declined from 81 per cent
in 1915 to 65.5 per cent in 1916.
That is a part of the statistical eX-
hibit which the railroads must eX-
plain away when hearings on their
appeal to the Interstate Commerce
Commission for increases in rates
ranging up to "a per cent are begun.
1t promises to be a difficult task,
even though current reports make
less favorable showing. The rail
roads base their demands largely
upon the plea that under the pres
ent rate schedule revenues are not
large enough to meet rising operat-
ing costs and leave reasonable
margin of profit. They point out
that the recent capitulation in their
controversy with the brotherhoods
will add some S6O,OO0,00O year
to their expenses, while equipment
and supplies are advancing rapidly
in cost, and say that they are there
fore entitled to greater compensa-
ton as an offset to these burdens.
There is a good deal to be said in
support of that claim; but it hardly
warrants such advances in rates as
are asked.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-03-28

A fiat advance of the minimum
percentage of increase demanded
10 per cent-would swell gross OPP
Grating revenues by about S26O,Q00,-
600, and a large part of this would
be saved for operating income. That
seems to be more than is necessary.
With earnings running as large as
they are at this time, the railroads
could probably stand all the extra ex-
pense which they are called upon to
meet and still remain highly pros
porous. The increase in expenses
brought about by the recent advance
in wages is equal to only about 51s
per cent of their record operating
income-that is, income from opera
tions after deducting expenses, taxes
and uncollectable revenues-in 1916.
1t is true, Of course, that earnings
cannot 90 on at the present rate
forever. and that when the inevita-
bic decline in the volume of traffic
does come the railroads will be un-
able to curtail expenses proportion
atcly. It is unlikely that wage
rates will be lowered. Labor seldom
relinquishes an advantage once OBJ
tanned. On the other hand, it is al
together probable that the cost Of
railway supplies and equipment will
decrease substantially once the ab.
normal foreign demand for steel
subsidies. That is almost sure TO
happen, even if the general level OF
commodity prices should remain per-
manently higher, as some competent
observers believe will be the case,
owing to credit imitation. Few eX-
pect that such price abnormalities
as are exhibited in the market for
steel products will he maintained.
Therefore, it is to be expected that
some items in the railroads expense
account will decline along with the
volume of traffic when business
takes a slump. While it may be that
the railroads will be able to make
out good case in support of their
plea, it seems improbable that they
can hope TO obtain anything like as
much as they have asked for.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-03-28
Am. Zinc Earnings
Up II, $3.50 Per Cent
Balance for Dividends SO, 3O7,-
967, Against $77,692 in 1914
Due to War Demand

The American Zinc, Lead & Smelling
Company. in its report of 1916 opera
tons issued yesterday, disclosed Z"
balance available for dividends Of 49,
sO7 967, an increase OF 1850 per cent
over the 1882 earned in 1914. Com
pared with 1915. the increase was ap-
proximately so per cent. The sensa-
tional rise in zinc and lead prices, ow-
ing to the war demand. was response
bic for the remarkable improvement IN
the company's financial position. -
1918. the last peace year, the company
showed deficit from operations O.
s169,074
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-03-28
Buys 10,0OO-Acre Farm


The Scottish Wholesale Cooperative
has purchased a farm in the Canadian
Northwest, eighty miles from Saska-
toon. The farm consists of 10000
acres. 5000 Of which are already under
cultivation. II is a large organization
and conducts a retail. wholesale and
manufacturing business on a large
scale in many parts Of Scotland 1t also
operates a number of -four mills. The
organization has determined TO grow
it's own wheat for its mills in Scotland.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-03-28
Viniculture in Spain

From an area of 3,173,iO4 acres de-
voted to viniculture in Spain a crop Of
3,95s,l5O metric tone Of grapes was
gathered in 1916; 3.72l,43s tons were
devoted TO wine making and 6ls,053. 9O2
gallons of must were produced.
marked increased compared with the
five preceding years.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-03-28
Money and Credit

The demand for money on time is
fairly we'll sustained and rates display
frmness, although outwardly there has
been no quotable change. Lending Is
principally on industrial securities as
collateral for four, FIVE and six months
az 4 20 "a per cent. Loans based on
mixture Of railway and Industrial
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-03-28
New York

Curb Broker Expelled.-William c.
Ralston. of W. C.. Ralston & Co., curb
brokers, has been expelled from mem
bership in the New York Curb Market
Association. Mr.. Ralston was sus-
pended few weeks ago pending an in
vestigation into alleged irregularities
charged against him in connection with
transactions in the stock Of the Ameri-
can Druggists Syndicate. The law
committee found that these charges
should be sustained. Ralston was at
one time president of the San Francisco
Mining Exchange.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-03-28

securities rule unchanged. Money on
call was quiet yesterday, with a ruling
rate Of 2i4 per cent.
The general disposition in banking
circles is 10 await the convening Of
the special session Of Congress Gates
W. McGarrah, president Of the Me
chanics and Metals National Bank
says: Money market conditions az
the moment show no feature of i'm
portance; there is surplus in the
vaults of the New York City banks
largely in excess of legal requirements.
Continued ease is indicated as long as
the present heavy inflow of foreign
gold goes on; however, there are ele-
ments in the existing situation which
may lend themselves to sharp change
at any time. These elements depend
for their development upon whether
the United States formally abandons
its attitude of neutrality and aligns
itself with the nations at war. We
have become so intimately associated
with affairs across the sea that our
financial markets are sensitive TO
everything that transpires, and the
wars probable future course is certain
to influence money market affairs. One
thing to be considered in this connec-
ton is the prospective heavy demand
by foreign nations for financial assist
ance in this country. Entrance into
the war would, in all probability, in
volve a more liberal attitude on our
part toward the extension Of credit
abroad" Mr.. McGarrah says he has
no doubt that an actual state Of war
with Germany will mean a speeding up
of certain industries and a consequent
greater demand for funds. But whether
war conditions prevail or not, he be-
lieves that no serious harm to general
business is looked for.
Ruling rates on money yesterday,
compared with a year ago, were as fol-
lows:
Yesterday. Year ago.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-03-28

The above rates express the cost OF
foreign money in terms of the Ameri-
can dollar. You buy ali English pound
sterling for ;4.7jis; the intrinsic par
ity is s4.S65s per pound. Thus, you
say either that pounds are at dis
count or that dollars ere at 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, 1917-03-28
The Dollar in Foreign Exchange

Exchange on Vienna advanced quite
sharply for time yesterday. when
Austrian kronen sold up to li.50 cents.
tho highest rate in many months. They
closed lower. however. at 1l.3s cents,
compared with 1871 the day before
The early advance was brought about
By a comparatively small amount Of
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-03-28

buying, owing to the narrowness Of the
market. The rest Of the foreign ex-
change market moved sluggishly. with
out any important change in rates.
Rubles were 4 shade easier.
Closing rates yesterday, compared
with a week ago, were as follows:
Week
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-03-28
Henry CIews & Co.

4 IS -, 7 and n HNOND ST.
MEMBERS y. '. srOCk EXCHANGE
Stocks, Bond, aud Investmen, Seeuri'is,
sought and sold OF commission. Also carried
On conservative terms. Deposit Accounts re.
;ened subject to heck a, sight.
Interest paid IN daily balances.
BRANCH OFFICES
NJ f,fth Ave. 95J Third Ave-
ll.c Broadway ss Warren a.
Nv Union square is Court 81. bklyn
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-03-28
News Digest


War Bonds Oycrshadow London Mar
ket.- London. March 21.-The STOCK
market lacked energy to-day, although
the tone was good. The large amount
Of war loan stock availing for dealint
detracts attention from other gilt-edged
issues. of which only few colonial and
japanese bonds changed hands. Rub
Der stocks were the best in the spccu-
lativc group. tin shares were firm with
the metal and few industrials were
supported. American securities were
dull and easier.
There was moderate inquiry for
money and the supply was plentiful.
Discount rates were quiet, and dealers
are awaiting with interest the result OF
the tenders for Treasury bills next Fri
day. Money was quoted at ga per
cent: discount rates, short and three
months bills, 46s per cent; gold pre-
miums at Lisbon, so.
Paris Boursc. Paris. March o.
Trading was quiet on the Bourse to-
day. Three per cent rentes, 81 francs
30 confines for cash; exchange on Lon
don. 81 francs 81 centimes; per cent
loan, So francs 80 ccntimes.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-03-28
Corporation Returns

Mohawk Mining. Report for the year
ended December 81, 1915. shows net profits
Of s2.27O.O5i equal 70 s22.70 share, OF
which 81 was paid in dividends. The COM
pany produced during The year 13,s3f.O34
pounds OF copper sold at an average price
Of 25.oS cents a pound
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-03-28
Relevant Facts

Union Pacific.-The road reports Tor
February total operating revenues OF
$3.50. $50. compared with $s,0l2,375 IN
the corresponding month Of 1916. OPP
Grating income totalled sl,5S2,lOo' COM
pared with s2,779,5s3. Freight revenue
decreased 1919 per cent and passenger
revenues l79 per cent. This was due
largely to snowstorms, which buried
long stretches of track in Wyoming
many feet deep and greatly hampered
the car movement. The increase OF 21.6
per cent in February transportation ex-
penses was due also in part to the in
clusion of the increased wages Tor jan
uary and February under the Adamson
act, the capital stock tax and excess
profit tax.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-03-28

The Danish government has aban-
doned the project of coming iron
money, but will allow the Importation
of iron Norwegian and Swedish CONS.
There is abundance of silver in Dem
mark
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-03-28
New Haven to
Refund Notes
Due on May |
Bankers Take $45, 100000
Issue to Provide for Ma
turing Obligations

Refuancing OF the short term obli-
cations OF the New York, New Haven q
Hartford Railroad maturing May will,
IL was announced yesterday. be accom-
plished through the sale of an issue Of
$4,000, 900 Of one-year per cent notes.
The bankers participating in the pur-
chase of the notes are J. P. Morgan &
Co.. First National Bank, National City
Company. Kidder. Peabody & Co and
Lee. Higginson & Co.
Refunds Two Issues
The sale of the notes is made sub
ject 10 the approval of the Public IT'LL
tiles Commission Of Connecticut. The
maturing notes which will be paid of
from the proceeds Of the new issue
are s25,OOO.O0O one-year AZ per cent
notes of the New Haven proper, placed
May /. 1916. and S2O,OOO.OOO three-year
AZ per cent notes of the New England
Navigation Company. in which the New
Haven has a direct interest through
ownership of all the stock of that cor
poration.
IL is expected that within a short
time Howard Elliott will be succeeded
as president of the road and that he
will be made chairman of the board Of
directors.
Pere Marquette Financing
other railroad financing announced
yesterday was the sale 20 Harris.
Forbes Co. by the reorganization
managers of s6,OOO,OOO Pere Marquette
Railway Company first mortgage per
cen. bonds. due in 1856. Including the
proceeds Of this sale. it is understood
the new company will begin operations
with cash on hand amounting to be-
tween s8,OOoOO0 and s9,000,000. The
rev securities TO be issued in exchange
for those of the old companies will be
ready some time in April
The Montreal Tramways Company
has sold to local bankers an issue OF
$3.50 900 per cent notes. The pro-
ceeds, with additional funds taken from
the company's treasury, will pay off
1000. 900 of per cent notes due
April |.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-03-28

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, 1917-03-28
Your Investments

should be subjected to a
periodical examination and
analysis. This is an impor-
tant feature Of our service
to investors and has been
the means Of saving them
considerable money and
anxiety. Inquiries invited
respecting this service.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-03-28

Mexican Telegraph Company.-An-
nual report for 1916 shows net income
of 1897 900, compared with $7s9,So8 IN
1915 The surplus after dividends to-
tailed $685. compared with s43o,4lS
in 1915.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-03-28

New York, 7l% cents; Mexican dollars,
55$s cents.
Gold Currents. British gold 10 the
amount of s7,5OO,cOO was received yes
tcrday for the account of J. p. Morgan
& Co. or this, $4,000. 900 was shipped
from Canada and deposited at the
United States Assay Office. The re-
naming $2,5OO,o0O was transferred by
telegraph from San Francisco to New
York, the gold having just reached
Frisco from the other side of the Pa
oifc. Total imports Of gold from all
sources TO date this year now amount
to $233,200.000, and since January,
1915, TO S1,37O,7OO,O 900.
Bankers said yesterday that ap-
proximately sAO,OOO.OOO of gold would
probably be shipped here this week on
British account.
Gold to Spain.-The heaviest gold
shipment to Spain for a single day
since the movement began last year
was arranged for by local bankers yes
terday. when they withdrew $1,750.O00
in coin from the Sub-Treasury. Span
ish exchange has been at a premium
in this market for several months.
Pesetas recently sold at 2l45 cents.
compared with an intrinsic gold value
of 1913 cents. The explanation for
this is SPANS commanding position
in international commerce. owing to
her large shipments 10 the Allies and
the United States.
Bank of Germany.-The statement OF
the Imperial Bank of Germany, issued
March %, shows the following changes
q -.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-03-28
Commercial Psper.-Oferines

commercial paper are meagre. A lin
tied volume of business is moving at 4
to IA per cent.
0fficial rates of discount Of each Of
the twelve Federal districts are as fo..
lows:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-03-28
-Days-
Over Over Over

Bank Clcarings.--Th, days clcarngs
at New York and other cities:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-03-28
y N'llH iECF. ia IL n con.
S601. goo. 900 S3661O5t3

Sub-Treasury.-New York banks lost
TO Sub Treasury s3,346,00O.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-03-28

Central and South American Tele'
graph.-Annual report for 1915 shows
gross receipts of 81, i02 $50. against 81
s4s.994 in 1915; net income Of s2,542,-
325. against S2.121 $50.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-03-28

Silver.-Bars in London, ssh pence;
New York, 7lH cents; Mexican dollars,
555s cents.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-03-28

Bank of Germany.-The statement OF
the Imperial Bank of Germany. issued
March 20, shows the following changes
4 ~ rnartet.
The Oklahoma City times. [volume] (Oklahoma City, Okla.) 1908-1984, 1917-06-16
FURNISHED ROOMS FOR RENT
In Answering Ads. Please Mention Tlmes.

FOR RENT Nice. cool south and south
east rooms; best part OF city. 1910 N
nroadWay
The Oklahoma City times. [volume] (Oklahoma City, Okla.) 1908-1984, 1917-06-16

b.acre tract with living water, I acrrs
extra good land. v mile northwest end
Linwood car line; part cash and balance
easy terms.
The Oklahoma City times. [volume] (Oklahoma City, Okla.) 1908-1984, 1917-06-16
BUSINESS OPPORTUNITIES
IN CITY


y r. KITCHEN viii tell you about
SALvAR, the king OF the blood. mshes
the old feel young again. sos Campbell
pldg
KITCHENS HOTEL ExCHANuE-Es-
thbllshed, reliable; exclusive dealers ia
hotels and hotel supplies Of any descrip-
tlon; NTH floor Campbell Bldg. Maple
NIL
"THE CArETERiA," fos Yves, Main st.
basement State National Bank, serves
three meals daily Open Sundays Quail
Nv hlrh; price low.
WANTED TO trade. good business, for
land, city property or automobile, Gwin
u North Dewey
WILL sacrifice 10 rooms of new futni-
ture which was bought at &oc to soc on
the dollar; will sell separate or all to-
sethet o ", Cnnnynghsm, ioi w. Ind
ron sAi.E-fot,y room roonine hrvsse (.
cltv Phone Wal t,os
The Oklahoma City times. [volume] (Oklahoma City, Okla.) 1908-1984, 1917-06-16

10 ACRES smooth, level land, ~ miles
southwest OF packing plant: all in cul-
real bargain and the BEST OF wheat, corn,
cotton or alfalfa land
The Oklahoma City times. [volume] (Oklahoma City, Okla.) 1908-1984, 1917-06-16

FOR SALE Slx-room modern house;
barn. chicken house; on corner; 202xl5e
It.. price $3.50. $500 cash. balance 31S
OKLAHOMA TRUST COMPANY.
$50. 900 Ia loan on Real Estate.
60s.l0 Insurance Bldg Maple 30.
The Oklahoma City times. [volume] (Oklahoma City, Okla.) 1908-1984, 1917-06-16
NOTICES
In Answering Ads Please Mention Times

LADIES' shampoo and curl 75c. manicure
3bc Rlggerts Parlors. Weaver Rldg
upstairs. Main and Harvey. Wal 1906
The Oklahoma City times. [volume] (Oklahoma City, Okla.) 1908-1984, 1917-06-16

Two-story concrete building In Pack
ingtown. 25xit0 and lot Price $500.