davidaulloa/AmericanStories huggingface dataset:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-07-22
Dividends

Mitchell Motor Regular quarterly divi-
dcnd OF $3.50 a share. payable August p TO
stockholders OF record August 10.
Tampa Electric.-Regular quarterly diyl-
dend Of $3.50 per share. payable August 10
10 stockholders Of record August !.
Mass Consolidated Mining.-Diyidend Of 81
per share. payable August - TO stockholders
Of record July 81.
Trenton Potteries.- Regular quarterly divi-
dend Of ! = per cent and y per cent extra
or the non-cU nulatiye preferred stock. pay
able July Is . stockholders Of record July 10.
West Penn Traction & Water Power
Regular quarterly dividend Of y per cent on
the preferred stock. payable September Is 70
stockholders Of record September ;.
Lincoln Trust. Dividend Of / per cent.
payable August TO stockholders OF record
july %.
Madison Safe Deposit.-Dividend Of ga per
cent. payable August Is 20 stockholders Of
record August 10.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-07-22
Relevant Facts

Shell Transport & Trading. - This
English concern, which is closely al
filiated with the Royal Dutch Com
pany. reports net earnings for the
year ended December 81, 1916, OF
81 500 ,O99, as compared with fl,672,-
523 for the year ended December 81,
1915. After paying dividends Of SO
on the s2,000,OOO preference stock,
dividends for the year Of $3.50 free Of
British income tax were paid on the
ordinary shares, or at the same rate as
last year. Ordinary shares outstand-
ing at the close Of 1915 amounted to
s4.Os2,9 O2. Reserve account was ga
OOO,OO and a profit and loss balance
was carried forward Of f45o,3S4.
Shareholders have recently been Of
fered the privilege of subscribing az
mar for one new share to each four
shares held. The final dividend OF
25cs may be used for this purpose.
This. in substance, amounts TO a stock
dividend Of 25Gt, in place of the usual
cash payment. This step was taken, It
il said. 10 conserve the company's re-
sources and strengthen its financial
position. The company's ordinary
share capital will thereby be increased
to approximately 100000.
PENNSYLVANIA Railroad Stockholders.
The Pennsylvania Railroad, at the
end OF June, had 94,Ol3 stockholders,
of whom 1854 were women. There
yerc g9s53l4 shares outstanding, OF
which 2.224 shares, or 2.36 per cent. OF
the total outstanding, were held
abroad. In the twelve months since
June 80, 1915. foreign holdings have
decreased 1899 shares.
Continental Can.-The full amount
OF the additional issue Of S2,OOO,OOO
common stock has been taken at par
by holders of rights. The companys
plants are reported TO be working at
full capacity.
Motor Products Sales Of this cor
poration for the SIX months ended
June 80 last amounted TO S5,O33.6lI
compared with 33O96. 1924 for the cor
responding period Of 1916, an increase
of $40 per cent. The company sells its
products 10 a number Of representa-
tive automobile manufacturers.
international Traction Company
This subsidiary OF United Gas and Elec-
trio Company has bought Goa mine
in the Pittsburgh district and VIII
hereafter be able 70 furnish its New
York State railway lines with adequate
coal supplies at normal prices. The
mine Is now running az capacity Of
10000 tons annually OF this amount
the traction lines will consume about
5O. 600 tons. leaving the surplus avail
able for sale. Several contracts have
been made 20 take care OF the surplus
coal AZ prices which are said 20 be
very favorable 20 the owners. The
mine was taken over on June |.
United Railways of ST. Louis.-An
agreement has been entered into with
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-07-22

The above rates express the cost OF
foreign money in terms OF the Hmeti,
can dollar. You buy an EngI1sn pound
sterling at, say, si.75i3. Ihe intrinsic
parity is si.s6ss per pound. Thus you
say either that pounds are AT : as
count or that dollars are a. pre-
MUM, which is owing TO the iaet Ihat
in England the demand TOT dol.sts
With which 70 settle accounts in this
conntrv is greater than the demand IN
this country for pounds with wh'eh "
settle accounts in England.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-07-22
British Firms at Hardin
Organize Trade Association

Following the establishment OF an
association Of American merchants at
Hardin, British firms in that city met
on May "a and organized a British
Chamber OF Commerce. 1t is under
stood that the new organization will
work as an associate of or as sub
ordinate TO the British Chamber Of
Commerce in Shanghai.
The chamber is strongly British in
its interests. British representatives
of alien firms are not eligible for men,
bership, nor are alien representatives
Of British firms except with the. ap-
prevail Of three-fourths OF the members.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-07-22
Money and Credit

Important changes in the weekly
statement Of the New York Clearing
House banks, issued yesterday, indi-
Gated again the extent to which the To-
cal financial situation is dominated by
the financing operations of the United
States government Loans and dis
counts Of the member banks decreased
Sl24,997, 900 last week to S3,76l ,s23,OOO,
while the excess of reserves over the
legal requirements increased SlO7SOO,-
no 70 a total of Sl4l,045,7lO Aggre-
gate reserves stood at S636,62l 600 az
the end of the week, an increase OF
sos 100000 over the preceding week.
Cash in vaults Of Federal Reserve mem
hers decreased Sl4,276,0OO' while re-
serves in the Federal Reserve Bank
increased S9l,636,OOO. The United
States government had on deposit
with Clearing House banks total OF
$l52.143, 900. compared with sl5o,5OS,-
600 the week before.
Evidence that the furry in money
rates last week resulted IN an IN
crease in the amount of discounting
by member banks at the Federal Re
serve Bank Of New York is shown in
the weekly statement of that institu-
ton, which disclosed total OF bills
discounted and bought of sl33,554,692,
compared with Sl28.SS1, 745 the week
before. or this total 800, 294,68S con
sisted Of acceptances. compared with
SOC. 66s, 003 the preceding week. Total
gold reserve of the Federal Reserve
Bank of New York amounted to $685.
37O.557. against s544,774.6S1 on July 10.
The local Institution continues 20 carry
sls.1s7,50 gold with foreign agencies.
most Of IL presumably with the Bank OF
England. which is its correspondent.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-07-22

way now is to arrange for gold ship
ments to India. These. too, are under
the control Of the British Treasury,
which makes IL necessary to obtain a
license for all gold shipments 70 India.
II 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 year
ago, would be about as follows:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-07-22
japanese Bank Expands

Consul Williamson reports from
Dairen. Manchuria, that T. Maede, sub
manager Of the local branch of the
Yokohama Specie Bank Gtd.), left
there recently for Brazil, where he has
orders to open new branch OF the
bank either at Sac Paulo or Rio de
Janeiro.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-07-22

the City of 81. Louis which provides
that the property Of the company Is
20 be valued az s6o,OOO,OOo ana the
company will be allowed 20 earn per
cont on this valuation after taking
care Of all expenses Of operation ahu
denreciation. The surplus, after al
lowing the company It's one-third IN
terest. is to be divided, one-half 70 inc
company and one-helf 10 the city.
any additions, betterments or eHten-
sions are added 20 the property the
company is TO be allowed 70 earn upon
the cost of these extensions one per
cent in addition 70 the rate which must
be paid for the money building such
extensions. II
The new ordinance is for term OF
fftv wears and the city reserves ths
right 20 purchase the property aiter
ton wears, and az fve-year Intervals
thereafter. for $50 100000 plus the cost
Of anv additions TO the property after
the passage of the ordinance. A ooard
of control is to be established, con-
sisting Of one member representing
the city and one member representing
the company. 18Th,
The company is given nine months
within which 20 accept thiS oruihahSe'
BEFORE accepting the ordnance the
conpany must effect reorganization by
which its capitalization shall De scared
down 10 5000 900. This means tnat
those now holding securities OF the
company must mutually agree to re-
duce the par value of their securities
m total of not less than S6O,OOO,OOU:
If this scaling down cannot be effected
II will be impracticable for the COM
pany TO accept the ordinance.
Calumet & Hecla Mining.-Total cop
per produced by this company for the
six months ended June 30, 1917, in
Guiding output of subsidiary prop
critics, amounted 10 S4.359,769 pounds,
an increase of 4,47s,2l3 pounds over
the corresponding period year ago,
or approximately per cent. OF the
subsidiaries, Ahmeek and Isle Royale
made the best showing. with increases
of % per cent and Is per cent, re-
spectively, compared with 1915.
Paws 100 Per Cent Dividend.-Direc-
tors Of the Artillery Fuse Company,
IL was announced yesterday, have de-
clared a 100 per cent dividend on the
capital stock of 100000. A dividend
Of 200 per cent was declared in Feb
ruary, the ninth month after the COM
pany began business.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-07-22

Closing rates yesterday, compared
with a week ago, are given in the table
below. American bankers have sus-
pended all dealings in German and
Austrian exchange, so that daily quo
tations for either marks or kronen are
no longer available.
Week
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-07-22

Il is a curious fact that those
who like to talk Of railroad poverty
seldom bother to revise their data
No less than three articles nave
heen noted in the last week or two
ir which it was stated that one
18TH of the railway mileage OF the
country is in the hands OF re-
ceivers." The statistics on which
these statements were based were
compiled by "The Railway Age
Gazette" several years ago, ana were
accurate at the time. They are anu.
mated now, however. Instead oil
40 900 miles in receivership' there
are now only 10000 miles, or there
abouts. and Of this mileage a very
large part consists Of small ana un,
irooortant roads, the insolvency OF
v,bieh Is not even remotely related
10 the larger troubles OF wnieh 'ne
bio railroad interests complain.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-07-22
Government Is
Utilizing More
Steel Capacity
France and Great Britain
Are Pressing Demand for
Railroad Equipment

A recent canvass Of the steel manu-
facturers develops the fact that all I'm
portant producers have plant capacity
sold for ten TO eighteen months
ahead, but it il expected that 80 per
cent of this work will have to be laid
aside during the next few months while
the mills supply the urgent needs OF
the United States government and its
allies.
The government is lending active
support to France. Great Britain and
other Allied governments in placing
large contracts for boats and railroad
equipment to be built in this country.
The contracts for motive power just
placed for Great Britain, France and
Russia call for the distribution OF
100000 among the American manu-
facturers, and the steel mills will be
called upon for 10000 tons Of rolled,
forged and cast steel for the construc-
ton of the 900 locomotives that have
teen ordered.
Russia Wants Many Cars
Russia will probably close contracts
for 10000 railroad cars, requiring ioo,-
600 tons of steel. in the next week.
The Hudson Bay Company has ordered
1900 steel gondola cars for shipment
to the Dutch East Indies. the contract
price being something more than
S3,000,00 and about $1,000 tons OF
steel will be required
France has come into the market for
$4,000 tons of rails. and plsns are be-
ing prepared for large number Of
cars, locomotives, bridges and termi-
nails, which will require several hum
dred thousand tons of steel. The
French government has also placed or
ders for forty cargo boats with Ameri-
can builders, making a total of l40 now
under contract to be built in the United
States and in Canada for the Allied
governments. The French government
has also come into the market for 5000
tons Of cast iron pipe.
Japanese Pay Big Price
japanese shipbuilders have pur-
chased 1000 tons of tank and hull
plates from American mills, paying
liz 70 IL cents a pound, nearly four
times the price being paid by the home
government.
The United States government has
distributed additional orders for about
$4,000 tons Of sheets and $4,000 tons
of steel bars through the Iron and
Steel Institute. The Navy Department
has awarded contracts for about 1000
tons more structural steel for maya
zines and shell warehouses and for
other buildings at navy yards and
arsenafs. Shipysrds and manufacturers
OF ordnance and ammunition are fever
ishly placing orders for machine tools
and other shop equipment.
There was marked revival in the
demand for pig iron for export. Jap
anese buyers have bought 5000 tons of
Southern foundry iron in the last few
days. and new inquiries for 10000 tons
have been put out by Japan, Italy, Hol-
land and South America. English steel
mills want considerable tonnages Of
snecial ferro-alloys.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-07-22
Current Comment

One Of the most serious problems con-
fronting every interest in the United
States to-day chargeable TO the world
warts that of when and where is the
ever increasing cost of every character
of commercial and industrial ,ommod-
ity 10 end? 1t is a question which
affects the building interests as greatly
as any other in our country. obviously,
an erd TO il must come eventually,
compelled 81 the natural laws of ad-
iustment, but there still is that tmni-
present danger Of disaster which would
require many years and be incslcula-
bly, difficult TO recover from. II ap-
pears to be impossible to figure out
any real, justdqble reason for the
mania for increasing prices which has
deyelopcd, even when the governing
law of supply and demand is taken INTO
consideration. II ia a well known fact
that the cost of labor regulates, IN
largest measure, the cost OF produce
ton, and that, in turn, the cost OF
labor is. measurably, regulated by the
cost Of living. But, even considering
these facts, while It is true that some
of our crops have fallen short Of the
usual Weld, and though the world war
has increased the demand IN every
direction, there yet does not appear
TO be any real reason for such semi
panicky increases in prices.-Bmld'ng
Reyie5r.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-07-22
Quoted dollar, to the pound.)

Below is given the current exchange
value OF foreign money in dollars and
cents, together with me intrinsic gold
parity, as calculated by the United
States Mint:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-07-22
Federal Reserve Banks

Washington July 2-warme activities Of Federal Reserve banks
which the banks total steadily high levels have
resulted s2l161240OO The condition off banks
July 90 the boards weekly
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-07-22

The increasing demands for steel for
the manufacture of munitions place the
private consumer in a difficult position
and to obtain his requirements he has
TO paw high prices. All steel mills con-
tinue TO be very active, and the same is
true of textile mills. In both cases the
demands upon them are beyond their
capacity. Stocks in the mill ware
houses are low, but in the retail stores
they are fairly complete. Labor trou,
bles are common to all industries, and
as a result production is not up to ca
pacity. This is particularly the case in
the mining industry. The production
of all the Canadian coal fields Is much
less than normal, and some anxiety eX-
lists as to the winter supply at points.
distant from the mines, where lack Of
transportation facilities adds to the
difficulties of the situation.-CGnadldn
Bank of Commerce.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-07-22
Corporation Returns

Duluth, Missabe & Northern Railway
Report for the year ended December 81, 1915,
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-07-22

Gold shipments.-Gold coin TO the
amount Of $4,000 was withdrawn from
the Sub-Treasury yesterday for snip
ment 70 Spain.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-07-22
*Decrease. increase.

Decrease. increase.
Acceptance Rates.-Current bid prices
for prime acceptances are as follows;
Spot delivery: 80 days 50 days 30 days
Eligible member 90
banks .......... Sn1o ONO 'i' .
Eligible n ,,,, osl,,
member banks. $3.50 $3.50 '7e7o
Ineligible bank $500 ,o>, ,,ls
hills ... 434% 434fo $40
For delivery within 80 days;
Eligible member banks.:..'." ss7soao
Eligible non-member banks....
i 1T hank bills........ 5Iab
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-07-22

States deposits deducted, sl52,l4S,ooO.
The changes from a week ago were;
Loans and discounts. 1924, 1897 900
Cash in vaults of Federal
Reserve members. '14,2Io,ooo
Rank .............. 4et,s3s,ooo
Reserve in vaults Of state
banks and trust companies To,loSOoo
reserve in depositories.... 100000
Not demand deposits. 's7,717,o co
Vet time denosits....... 46,3oo,oo
Ctrc,Iotion ........ 42o6, 900
,nore9a,e reserve... 4e8,6o6 900
Txcass reserve .+1o7, eoo,77o
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-07-22

The chart on the opposite page,
sbawing approximate distribution oil
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-07-22
,ney Market - London,

London Money Market - London
July 2l.-Bar silver, 80 1850 per
ounce. money 4 per cent; discount
rates-Short hills, 4% per cent 'nlee
months, 1916 per cent golu pis
rnirrns at Lisbon. 9O.OO.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-07-22
Significant R ella tion s
Money and Prices:

Stock Of money gold in the country. q.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-07-22
International Traction Company.

United Railways of ST. Louis.-An
has been entered into with
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-07-22

Motor Products. Sales Of this cor,
poration for the six months ended
June 80 last amounted TO S5,O33.6lI
compared with 33O96,924 for the cor
responding period Of 1916, an increase
Of $40 per cent. The company sells its
products 10 a number Of representa-
tive automobile manufacturers.
The Logan Republican. [volume] (Logan, Utah) 1902-1924, 1917-10-06
GOLD SUPPLY.

The Financial World" says: Germany and the
United States are embarkng simultaneously on an appear
to their people for more of the wherewtha to carry on
the war 1t is the second undertaking of the United states
government and the seventh for the peoples OF the Ger
manic states = + We have increased our supply
of gold since 1914 by the of while Ger
many is in such plight for adequate gold supplies she
has been compelled to ask her people to turn IN their
rings gold watches, trnkets and other gold ornaments
that the diminishing gold supply might be repenished;
and yet the supply has fallen to point where the Imperial
banks holdings are lower than at any time since
the summer of 1915. The contrast between tlle
positions of the two nations is striking and yet Germany
has started off in her appeal with no rebufs The people,
pnced and suffering from all manner of prvations and
brdened with for loved ones lost at sea or IN
battle on land coming forth for the seventh time and
laying their savings the altar of their country for
sacrifice With us there will not and cannot be
any Communicating of savings as in Germany but our
people heed only the prompngs of patriotism and
devoted allegiance to the flag and the government to IN
spre them to buy Liberty bonds The capital is here IN
abundance The gain in profits to the farmers alone in
year. through the raise in the price of farm products
normal prewar levels, is estimated at more than
$65O0OOOOOO sufficient to than twice cover the
total offering" ~
The Logan Republican. [volume] (Logan, Utah) 1902-1924, 1917-10-06
FIGHTING EFFICIENCY.

Of all enterprises on earth war-making is the most
costly 1t takes 5971 barrels of flour to feed million
soldiers single day. They will consume in addition
100000 pounds of bacon ten carloads of potatoes
loads of beef and something less than carload of coffee
This ration, multiplied by thirty suggests the mountain
of food required to keep camp alive month Food
distribution has been simpfied materially by the auto
mobile truck One Of these machines will haul as much
required to haul in the Civil War days. More than 10000
automobile trucks to be provided for the United
States army. Two three times as much food as an
army needs must be provided the emergency hazard
in war is very great wel-fed army brings in the
victory. .aaaMRNa
The Logan Republican. [volume] (Logan, Utah) 1902-1924, 1917-10-06
FLOATING POPULATIONS.

1t is announced that the government is going to confer
with manufacturers induce them to stop bidding against
each other for help and entcng each others employees
away, thus impeding government work The Workpeope
may not relish this interference this bidding for their
service does increase wages temporarily
Yet if they will stop to think about it, it all tends to
increase the cost Of government contracts and raise taxes
When manufacturers get to competing for help the costs
of living rise for everyone and is really better Off
There is already too much tendency among workpeope
to drift around from place to place. Things not
they used to be when would work all their lives at
one job and call the proprietor by his front name. Now
the who works at job five years is the exception
People drift around from place to place tempted by
temporary offers AS result they never acquire the
most thorough experience in any particular business
They to be better off, yet they eat up their money
in moving their household goods.
Also if sticks in position he makes himself
exceedingly valuable his employer, and if there is any
chance of promotion he gets it. If there opportunities
in town. stands much better chance of learning
about them if he is in his home place among friends than
when he is among strangers.
floating population makes civic betterment difficult
The who expects to live in his quarters but short
tne will do nothing to beautify his place This results
in whole neghborhoods where there is not the slightest
effort toward town Improvement Floating populations
do not identify themselves with any local institutions and
count for little in efforts made for social advance
The Logan Republican. [volume] (Logan, Utah) 1902-1924, 1917-10-06

poded crops and grain and potato elevators burned from
pata causes of course Labor troubles fomented
and industries tied up Mexico and Japan were PREACHER
osy approached with the preposterous plan plan OF sez
ing Texas and Mexico.
Guble pacifsts financed in their plans for in.
fuencng Congress. Newspapers printed stuff handed
out by the system Politicians fearful of all this machine
made agitation misunderstood the temper of the people
Mysterious information about sangs of ships and SOL
diers got through The far reaching character of this
underground organization is beyond belief and 1t must
have cost a lot Of money.
The American people will manage their own affairs
without outside interference. Had the German govern
ent not attempted this stupendous campaign of dupct
and interference is possible that we would never have
entered the war;
But produced exactly the opposite effect from that
intended 1t made it clear that government safe so
long any nation attempts to control the world by such
nefariOus and insidous means.