davidaulloa/AmericanStories huggingface dataset:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-07-29
Energy Shown in
Developing Trade
With Far East
American ExpressC Company
Opens Branch Office at
Shanghai, China

American commercial interests are
developing the Far Eastern field with
much energy. Announcement was MADE
Yesterday that the American Express
Company has extended its organization
in that part of the world by opening
an Office at Shanghai, China. This Is
the third Office opened in the new ter
ritory, the others being in Manila and
Hong Kong. In September it is an
nounced that fourth branch will be
opened in Yokohama, Japan. The com
pany is preparing to handle a large
ly increased business through these
branches.
Interests familiar with the Far East
ern territory assert that in a few years
American manufacturers may md IL
advantageous to maintain permanent
stocks of merchandise in Manila from
which to supply the Chinese and other
markets in that hemisphere, without
the delay that often takes place in I'LL
ing orders at the present time. Com
menting upon this feature, the Mer-
chants Association of Manila has the
following to say:
prior to American occupation the
imports of American goods into the
Philippines ranged around 100000 per
annum. The islands are at present
using between S25,000,0O0 and $780,
100000 worth of american products
each year, but this amount is as moth
ing compared with what it will be, for
the potential wealth is barely scratched
and the purchasing power Of the peo-
pie is as yet absurdly small.
when the Philippines have advanced
in agriculture. commerce and industry
onlv to the stage Porto Rico has al
ready attained, and if the United States
sells them only as much per capita as
Porto Rico is now taking, II VIII mean
the consumption of nearly S5Op,OOo,-
400 worth of American products each
year. Co.,. .,.;u
ms JTdue the NHl1SH '0N"'' a,
control. for the reason that practically
ali articles imported into the Philip
pines are subject to duty except when
coming from the United States. TINS
gives to many American manufacturers
and iobbers a greater advantage even
than they possess on the mainland
where many articles enter free tnat
are subject to duty in the islands.
development of the Philippine ISL
snds TO a point where they are con-
suming UPWARD of S400,OOO,OoO or
s500.O0O, 900 a year Of American prod
nets mean that American manutact-
urers will be warranted m MAINTAIN
ing permanent stocks in Manila from
which TO supply this trade.
"These stocks will be available 10
serve the trade of China and other Far
Eastern countries, and an advantage
will lie at the hand Of American COM
merce which is not possessed by any
comnetitor. for no European country
owns territory so favorably situated
tbe trade of which it controls and thaI
has a population whose consuming ca
nacitv will compare with that oil Ihese
Islands when developed.
"Thus the Chinese merchant Will De
able 10 secure from Manila IN IRON one
20 two weeks wha' i now takes seVeraI
months to get from Europe or 'he
United States
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-07-29
Saturday, July 2S, 1917

Signs Of slackening Of business
activity are to be seen in many d.
,sctions. Labor difficulties, more
economical buying, price fixing and
ssperal uncertainty all tend to in
Juee manufacturer and merchants
"a he extremely cautious in making
forward commitments, while cur
rent requirements are mostly sup
,lied on a day-to-day basis. Never
,seless, bank clearings continue to
sypand, and the conclusion is drawn
thst, in spite Of proof to the con-
trary, more goods are moving now
than at this time last year. But the
Conclusion is not warranted, because
failure to take account of the great
.dyance in the general level of
rrires vitiates whatever value clear
;rps may have as a measure of the
turnover. "Dun's Review reports
that the weeks clearingS at leading
centres were "a per cent larger than
in the corresponding period last
wear. If proper allowance be made
for the higher prices at which
goods moved this year, it will be
found that the actual turnover was
,bout 10 per cent smaller. What
the figures really show is that it re-
ouired "a per cent more money to
handle 10 per cent less business.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-07-29

metals is concerned, an article in
"The Military Historian and Econo-
mist" points out that for tin we srs
virtually dependent on South America.
Alaska gives US a few tons, and there
are possibilities in North Carolina,
South Dakota and California. The
worlds total production in 1915 is
given A. 222,452, 900 pounds, and our
imports for the same year at ll6,o36,-
335 pounds. These figures are GER
taiuly striking For anthony we are
virtually dependent on BoliyiG and
China, which shows at Il glance how
much is involved in the control Of the
Pacific.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-07-29

from Germany to Holland and Scandi-
navia, an attempt is being made to re-
plenish the gold store of the Reichs-
bank by confscating all the metal that
is available in private hands. A Ger
man newspaper stated this week that
gold to the value of 300,00O,OO0 TO
lOO,OOO,OOO marks has been boarded by
people in Germany, who hope TO proft
by it after the end of the war.
If you calculate the cost of the dollar
in terms of foreign money-that is, as
If you were buying dollars with pounds,
marks or francs-its value at the close
of last week, as compared with a year
ago, would be about as follows:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-07-29
The Dollar in Foreign Exchange

The outstanding development Of last
weeks foreign exchange dealings was
the fresh break in the Russian rate,
rubles falling TO a new low record or
2Oa. cents Toward the end Of the
week there was a slight recovery TO
1tiL cents. Weakness in rubles coin
cided with the collapse of the Russian
offensive and the indications that the
Provisional Government was meeting
with serious difficulties. Only MOD
crate volume of sales was responsible
for the fresh break in the Russian
rate. The normal value OF the ruole
is 5l2 cents.
Neutral exchanges attracted atten-
tiop during the week, principally Swiss
francs which rose 10 a high record
level for the war period. The rate was
4 Ss francs 70 the dollar, against par
Of b.lsk. The embargo placed by the
limited States government on exports
20 neutrals il felt in this market by
reducing the amount Of exchange ere
a,ed. Thig forces persons VINO deslre
20 make remittances 20 Switzerland
for instance, 10 pay higher rate TOT
exchange. The same influence IS al
olork I'M the market for exchange on
the Scandinavian countries, raves on
Norway, Denmark anu oNuu." t,ins
,orked into q much stronger position
lately. nj. cor-
Exchange on London and faris CON
tinues 20 mark time, without uny ~p
probable change in rates. ~ Is appaI-
snt that the bankers are sun eHsIo .s
Ing control over the marNet am iP'r,
ing rates close 20 the so'chi'ed peg
hgures. .L.,ro G.. mn
ton1er quoted In the American market,
4, - iserned from neutral sources that
German financial authorities are
LING every effort 20 bolster uD the
To- dselinln9 mark, which IL now At a
Iscount Of nearly 80 per cent he-
nnytS from the Dutch frontier indicate
-. a.,lno 10 the large gold exports
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-07-29

Among the major troubles of in
dustry is the shortage Of coal, due,
10 considerable extent, to the short
age Of freight cars. The situation
now is much better than it was early
n the year, but there is no assur-
ance that, with a return Of adverse
weather conditions and further re-
dvction in industrial man-power
through CONSUMPTION and enlistment,
the coal problem may not become
acute again, in spite of all efforts TO
selve it. Nothing could be more Sc
rieus for a nation at war than lack
Of power to keep the wheels of in
eUstry turning at top speed. IL
might be desirable, therefore, If the
proper authorities would give seri-
Gus consideration TO the feasibility
Of rapidly developing water power,
especially where unutilized water
powers are located at points from
which transmission 10 Industrial
centres would be possible. An IN
credible amount Of power is going TO
waste because, whether rightly or
wrongly, eonservationists have OBJ
strueted development by private
espital. The controversy has
dragged along for years, but II
could be settled and settled speedily
4 the authorities should take up the
question as a war measure. water
power plants can be erected quickly
II IL Of record that units producing
10000 horsepower daily have been
Delivering current within eight or
nine months after construction work
seE started. Under pressure sueh
plants might be completed in six
months or less. important savings
N several directions would result.
First, there would be a saving Of
coal; aeeond, a saving Of trsnSporta-
Ton, which would 90 a long way
Nvard relieving the shortage Oh
ss's, and, finally, there would be a
Substantial saving Of man power,
because the production, and in some
esses the application, Of electrical
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-07-29
Must Issue Stock
AS Well as Bonds

Trenton, n. j., July 2s.-The West
Monmouth Water Company having
asked permission of the State Public
Utility Commission to issue $4,000
worth Of first mortgage 6 per cent
bonds 20 cover expenditures, the COM
mission to-day found: Heretofore we
have approved the issue of $4,000 OF
stock aud $4,000 bonds. The present
issue would result in capitalization
Of $4,000 bonds and $4,000 stock. We
are of the opinion that there should be
more issued in an enterprise OF this
kind. We will approve the issue OF
$4,000 bonds end $4,000 stock II the
application is amended to petition
therefor"
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-07-29
Dividends

Guaranty Securities Corporation
Dividend of per cent for the quar-
ter ended June 30 was reported on
June 25 as being the annual dividend.
Buffalo, Rochester & Pittsburgh Railway
Regular semi-annual dividend Of per cent
on the preferred and 3 per cent on the com
mon stocks, both payable August 10 TO stock
holders Of record August 9.
Buckeye Pipe Lins.-Regular quarterly
dividend Of 81, payable September Is to
stockholders OF record August Is.
Imperial Tobaeco.-Interim dividend Of 3
per cent. free Of income tax.
westehestsr Avenue Bank.-Quartcrly dvi-
dend Of ~ per cent and X OF J per cent
extra, payable August / to stockholders Of
record July 30.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-07-29
Current

The above rates express the cost OF
toreign money in terms OF the amer,
can dollar. You buy On English pound
sterling at. say. S4.79h. The intrinsic
parity * S4.G6A per pound. Thus, you
sov either that pounds are at a dis
count or that dollars are at pre-
MUM, which is owing 70 the fact that
In England the demand for dollars
with which 10 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, 1917-07-29

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
M longer available. Week
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-07-29
7otsl. .sz1ea.1s2Ooo s1e.2122s3.OO

From these figures it appears that
earrings accounted for no more
thaA 81 per cent of the total turn
over. Moreover, there is wide va
ration from week to week in the
ratio of clearings to total bank
transactions, thus further empha-
sizing the defects Of the former as
measure of business activity.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-07-29
Snrinpfield Body Corporation. -

Springfield Body Corporation
Stockholders have approved a plan to
increase the capital stock to sa,25OroOO,
of which S75O,OOO will be 8 per cent
cumulative first preferred stock, ST.
OOO 900 8 per cent cumulative second
preferred and Sl,500,000 common. Sub
5criptions have been asked for the new
frat preferred stock.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-07-29

Bank clearings are not such a re-
liable index Of business conditions
as they are popularity supposed to
be. In the first place, they may be
greatly distorted by special trans
actions, by spasmodic outbursts OF
speculation and by other things.
Thus. with no change in general
conditions, transactions on the New
York Stock Exchange might double
with large increase in the total OF
bank clearings as a result. For an
ether thing, very large part OF
Ike business turnover is effected IN
such a way that it does not appear
II clearings at all. That will ap-
near from a glance at the following
statistics, gathered by the Ameri-
can Bankers Association. They
show total clearings and total bank
transactions at fifteen important
centres for the three months ended
June so:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-07-29
DIVIDEND NOTICES.
WESTINGHOUSE ELECTRIC

& MANUFACTURING LONPANf'
A Givde.d n Oae AID three quarters Ier cent
fsTis cents per shsrej on tho COMMON s,ocA
n DTS Company FOR the quarter ending June 50.
l1lr. vii 10 paid july a. 1917 70 Stockholders
n record as Of June 81, 1917.
u p. BAETZ, Treasurer
New York. June 20. 1911
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-07-29
Commerce
Federal Reserve Banks

Washington 2Tota
conditions July p shows
approximately
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-07-29
Total .s4,s5o, 859,72o s4,O18,O43,555

German Bank Berlin, VIA
London, July 2S.-The statement Of the
Imperial Bank of Germany, issued July
20. shows the following changes, IN
marks,
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-07-29
Yesterday.

Below is given the current exchange
value of foreign money in dollars and
cents, together with he INTRINSIC gold
parity, as calculated by the united
States Mint: Current
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-07-29
Relevant Facts

Atlantic, Gulf and West Indies
Steamship Lines.-0perating and other
income Of subsidiary properties for
Nav, which amounted to S4,O44,2Oo,
showed a gain of S9SO,O57 over that
month in 1915. Net income after oPer-
ating expenses, interest on the bonded
debt, rentals, etc, totalled Sl,007, 1872,
gain of Sl4O,459 and new high rec
ord. This is the first time in the COM
pany's history that net income crossed
100000. In July, 1916. net income
amounted to s99s,32O, the previous
high record.
Norfolk & Western Railroad.---June
operating revenues aggregated s5,5s3,-
34s, an increase of II per cent com
pared with the corresponding month
Of 1916. Operating expenses were sS,-
5s8.575, an increase of 20 per cent Net
income amounted to sl,6S9,250. de-
crease of q per cent from year ago.
For the first six months of the current
wear the Norfolk system earned net
income of slO,l93,S63, d decrease of Z
per cent compared with the correspond
ing period of 1916.
New York Telephone Company
Gross earnings in June amounted to
S5IOS,410, an increase over the cor
responding month of last year Of s5Ol,-
OlO. Net was l,93l,1l6, an increase
of s145,9sO. Net operating revenue in
the first six months of the current year
amounted TO Sll $780, an increase OF
81 ,539, $50 over the corresponding Pc
riod of 1915.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-07-29
Tin Industry in United States
DEPENDS ON South America

In reviewing the situation Of TINS
countrv so far as the supply Of minor
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-07-29
Corporation Returns

New York. Ontario & Western
me- tus
South Bend news-times. (South Bend, Ind.) 1913-1938, 1917-08-07
GERMAN LIBERAL PRESS
OPPOSED TO MICHAELIS

COPENHAGEN, Aug. THE lib
eral press of Germany is outspoken
in its disappointment over the Sc
lectiOns Chancellor Michaelis has
made Of his colleagues in the new
imperial and Prussian MINISTRIES
which are held 10 show that the eff
feet is one Of names only and not
of the system All the papers Of
this class agree in the view that
there is not a trace Of parliamentar-
ism in the new order Of things.
IL is evident, comments the Nos-
siche Zeitung that the course is set
TO the right about from the liberal
ideas now inspiring the people. Vor-
waerts, the socialist organ, speaks Of
the new administration as one OF
enlightened Bureaucracy" The
Tageblatt characterizes the new min
listers as in the main successful ad-
ministration officials. The nomina-
ton of two members Of parliament
cannot, il says, be regarded as even
step toward parliamentarism be-
cause in the first place neither Of
the two is particularly liberal in his
views or a strong believer in reforms
in the direction Of liberalism and in
the second place both must under
the present constitution resign their
seats. DR.. Won Kuehlmann. alone OF
the new officials, is given favorable
treatment by the liberal organs The
conservative and pan-German papers
are correspondence aggrieved over
his appointment
South Bend news-times. (South Bend, Ind.) 1913-1938, 1917-08-07
EXEMPT TON BOARD
REFUSES ANY NEWS
Declares it Unjust to Give Out
Names of Those Re-
jeCted.

News Times Special Service;
ELKHART, Aug. Tt was an
nounced by the members Of the To-
cal exemption board after a confer
ence that it would he best that the
names of those discharged, the rea-
son for discharge, the names of those
claiming exemption, the reason for
exemption and the names of those
passing the examination will not be
made known 10 the public. The
board thought that it would not be
lust 10 those taking the examination
to have all the information made
public.
A member Of the board said.
when the quota is made up in its
inality which will not be until the
exemption affidavits are determined.
and the opportunity for appeals have
been passed. then we will probably
give out the names of those making
up the quota Of 1S5 men,
There will be no examinations next
Friday because the board has not
had time 10 make out the list that
would have been examined this COM
ing Friday. Men will be examined
every other day this week until the
fun quota is made up.
Or. W. a. Stauffer for Wednesday.
Or. r. NJ Hoover for Thursday and
Or. G. W. Haywood for Saturday
we're drawn by the board 10 assist
them in examining the divisions
summoned for those DAYS DR.. a. A.
Norris assisted today and DR.. I. W.
short will assist tomorrow.
out OF the As men that have been
examined but five passed the physi-
cal examination. a number were
discharged for physical disabilities
and the remainder claimed exemp-
ton
South Bend news-times. (South Bend, Ind.) 1913-1938, 1917-08-07
NEW HIGH RECORD
FOR COIN CIRCULATION

WASHINGTON, Aug Money
I'm circulation i'm the United States,
the treasury departments circulation
statement Monday shows. reached a
new high record Aug. 1 The total
ON that date was S4,S52.0S4469. an
increase OF nearly % percent within
"a year. This includes gold, silver
and an forms. but does not include
money in the treasury which would
bring the total up 20 S5.513.292.S24
The per capita circulation Aug.
was S46.53 Within year the per
capita circulation has shown the
phenomenal increase of S7.53 great
cr than durinA any other similar pc
rOd of time
The amount of gold i'm the treas
ury and i'm circulation was S3,OS6.-
21S.49S. an increase of $5S6,000. 900
within the year and OF approximate
Is S1.3OO.000. 600 since the European
war started
South Bend news-times. (South Bend, Ind.) 1913-1938, 1917-08-07
KERENSKY NAMES
HIS NEW CABINET
All Constitutional Democrats
Agree to Participate in Re-
warped Ministry.
0<11ER41s1o~14.

PETROGRAD. Aug. IN. Ker-
ensky's cabinet is practically COM
plete. The constitutional democrats
list of members who will form the
new ministry has been agreed on,
but as regards several portfolios, the
choice is not definite as the candi-
dates are absent from PetrograG.
Following are the names OF the new
minister's
Premier. minister OF war and ma
rine-Alexander F. Kerensky.
Vice premier and minister of fl
nance-N. V. Nekrasoff.
Minister of foreign affairs-M. I.
Tevestchenko.
Minister OF the interior-M. Ak
sentieff (social revolutionist. lately
released from the penitentiary)
Minister Of public instruction. -
NJ. Oldenburg constitutional demo-
crat and member Of the Academy Of
Sciences).
Minister Of labor-M. Skobeleff.
Minister Of trade and industry
NJ. Prokopovitch.
Minister Of social tutelage-M.
Astroff (mayOr Of Moscow, cOnstitu-
tiOnal democrat).
Minister Of supplies-M. Pissche-
honCff.
Minister OF iustice-M. Yefremoff.
PTocurator of the holy synod-M.
Kartasseff.
Minister OF communications
Takhtensneff.
Minister OF posts and telegraphs-
VI. Nihtine, social democrat.
State comptroller-F. A. Golovine.
constitutional democrat.
Minister of agriculture - NJ.
TchernOff, socialist.
Assistant minister Of war NJ.
Savinkoff.
Foreign Minister TerestchenkO in
forms the Associated Press that NJ
Tchernoff. who again becomes min
lister Of agriculture. has been fully
rehabilitated. his accUsers having
withdrawn charges that he had re-
lations with Germany.
South Bend news-times. (South Bend, Ind.) 1913-1938, 1917-08-07
GERMAN CABINET
CHANGES ANNOI-NCE,n

BERLIN (via London. Aug g.
Official announcement was made
today that five ministers of state.
Including Foreign Secretarv Zim-
msrmsnn and four secretaries OF
state. including Finance Minister
Lent and Interior Minister Won
1oebell. had resigned their port
folios
DT Richard Won Kuehlmann.
the German ambassa dor 10 Turkey
has been appointed secretary for
foreign affairs I'm succession to Or.
Zimmerman.
The ministers and secretaries who
resigned were:
Minister or Justice DIR. Beseler.
appointed November. 1905.
Minister Of ecclesiastical affairs
and instruction, Dr. Won Trott N
.>el4 appointed July 1909
Minister Of agriculture domains
and forests. Dr. Won Schorlenier. APP
pointed in 1910.
Minister OF finance. Or. Lent. APP
pointed August. 1910.
Minister for Interior Herr Won
Loebcu. appointed May. 1911:
Secretaries of state.
Ir,norial ,,oetoffico tro,., 1-r,,.i..
r,,,-,o~i,1 s.c~o+,-,- 90 f,,.+f.e ~
1fsro
oecretsr,. for forairr affair. IN,
,1r-o5 zir,r,ey,,,,,r ,rr,t,,,..l
>-.,,..,,,t,.- rote
p,eside,t NJ tho ooo5 ~o,,,1,tf..,,
1.o.rd Adorpl ,.o, psti.t-i
~, pi,b,, ,,,,le,- ...,,.-,-.. ~, e.
,.,-,,,,.i.I t,o,,,e ,rri,c 49,, ,....,.,...1
1,i. 80
~. -, ry.1r.,,.;,t, ,.-.r1 --.........
., ts tho commemorative If tho An,
- oba,ca1lo. .'r.5 i. -. -,
- ,,-;,;.+r,- 81 gtst. ,,,4 .,-,.,.......
r,i,is.or of tbo i,+.ri,.
-rbo 1andrar Won Grae,-i-i+y v,-,.
,p,ointe5 10 succeed Arnold 1vsbD-
South Bend news-times. (South Bend, Ind.) 1913-1938, 1917-08-07

OKLAHOMA CITY, Okla. Aug. Z.
Without waiting cor a conclusion
of the states campaign against or
sanized resistance of the selective
draft in central oklahoma. the Unit
ed states government today moved
10 punish the 200 men under arrest
i'm connection with the armed opposi-
tion 10 military service. Warrants
charging treason were served on the
prisoners who were taken 10 the
penitentiary at McAlester. or the
Jail at Muskoeee. to await trial at
which United States District Attor-
ney W. p. McGinnis will ask that the
death penalty be imposed
South Bend news-times. (South Bend, Ind.) 1913-1938, 1917-08-07
EVANSVILLE DRAFT
FOE CANCELS SPEECH

EVANSVILLE. Ind, Aug. T.
Frank :. LaMonte, Evansville, So
cialist candidate for mayor. who has
publicly declared il is unconstitu-
tional 10 send soldiers TO France,
Monday night cancelled his speech
at Valentine. near here. pleading a
sore throat
Il know federal officers are in
my audiences" said Ia Monte to-
night. but they do not cause me TO
chance my views or my words."
South Bend news-times. (South Bend, Ind.) 1913-1938, 1917-08-07
MOOSE TRUSTEE
IS UNDER ARREST
Charles Warner Taken in To-
IedO-Wanted for Miss
ing Funds.

News Times Special Service:
GOSHEN Aug. Toledo police
officials arrested Charles Warner
Goshen tailor and trustee i'm the
Moose lodge here who suddenly
disappeared from this city several
days ago charged with taking consid-
cradle cash belonging 10 the lodge
When Mr. Warner was arraigned
before Justice of the Peace :. r..
Fryberger here his case was con-
tinued until Wednesday.