davidaulloa/AmericanStories huggingface dataset:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-03-09
Other Cities

Reduction in Railway Mail Com
pensation Asked Washington. March
S.-Reduction in the compensation pald
by the government to the railroads Tor
carrying mail as readjusted by Con
gress last July is sought by the Post,
master General in statement MED
with the Interstate Commerce Com
mission and made public to-day. The
Postmaster General declares that the
present method results in excessive
navment The commission has fixed
May by which time the railroads
must file reply.
By Congressional action the weight
basis of payment was superseded IN
some instances by the space basis. me
arrangement was to be temporary until
the commission determined proper
methods and rates Of payment: The
Postmaster General estimates that II
the present system were continued the
government would pay s3,222,4O more
than if the weight basis were used: A
schedule Of proposed rates is affixed
to the Postmaster Generals statement.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-03-09
Wheat Reserves
On the Farms
AtDanger Point
Agricultural Department
Warns Growers Not to
Dispose of Seed

Washington, March s.-The quantity
of wheat and other cereals harvested
last season remaining on farms March
1, as inventoried by the Department OF
Agriculture. shows a startling reduc-
ton compared with former years owing
to the heavy exports to supply the de-
mands of the warning nations of Eu-
rope. The supplies of wheat have been
reduced 10 what is regarded as the dan
ger point, while the high prices offered
for all cereals have tempted farmers to
such an extent that the department has
felt it necessary to issue warnings to
growers not to part with their valuable
seed and thereby endanger the coming
seasons crops.
The amount of wheat held on farms
March was about 1O1 ,365,O00 bushels,
or not greatly in excess of seed re-
quirements. Last year 244,44s, 900 bush
els remained on farms March |.
Wheat in country mills and elevators
on March l is estimated to be 89,614,0OO
bushels, or IA per cent of the 1915 crop.
compared with 155,O27 900 bushels a
year ago.
The quantity of corn on farms March
/ was about 7s9,4l6,OOO bushels, com
pared with 1,1l6.559,OOO bushels last
year. while that Of oats was about 1893.
9s5 900 bushels, compared with 598,l4S,
600 bushels last year. and barley about
32.S4I. 900 bushels, compared with S.
3O1 900 bushels last year
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-03-09
New York

Marlin Arms sues Tor control or IN
yentions. Albert F. Rockwell, presi-
dent of the Marlin Arms Corporation,
has brought suit at Hartford, Conn,
against the New Departure Manufact-
uring Company, of Bristol, asking dam
ages of S2,000,000. The latter concern
was formed in 1889 to carry on manu-
featuring business, in which were en-
ployed certain of Mr.. Rockwells in
ventions and processes relating 10 roll
Ter bearings. Since November 30, 1914,
Mr.. Rockwell says, the company has re-
fused to pay him any money either as
a royalty or otherwise since January I,
1915, and that he has not been allowed
to take any part in the management
This. Mrs. Rockwell alleges, is in vio-
lation of his agreement with the New
Departure Manufacturing Company.
Mr.. Rockwell is connected, through the
Marlin Arms Corporation, with the
Standard Roller Bearing Company, Of
Philadelphia, a competitor of the New
Departure concern.
Certain-teed Products Corporations
A syndicate headed by William Salo
mon & Co. has underwritten $4,000 900
7 per cent cumulative first preferred
stock of the Certain-teed Products
Corporation, which has been organized
TO take over the General Roofing Manu-
featuring Company. the Mound City
Paint & Color Company, and the GREGG
Varnish Company, all of st. Louis, and
the felt plant of the Lockport Paper
Company, of Niagara Falls. The new
company has an authorized capitaliza-
tion Of sl0.000,000 per cent first pre-
ferred stock, s5,0O0,O00 second pre-
ferred Z per cent cumulative stock, and
100000 shares of common without par
value.
Improvement in Car Situation Is
Looked For.-Predictions by the Com
mission on Car Service of the Ameri-
can Railway Association are that de-
cided progress will be made during the
next ten days in reducing accumula-
tions of freight cars on the railroads OF
the country. A marked reduction
practically one-hfth is shown in re-
ports for February %.
On that date the railroads were
holding l3s.679 cars which could not be
moved. ms compared with III .207 cars
on February IL, reduction of 10 per
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-03-09

Italy's debit balance in the inter
national trade account is now run
ming at the annual rate of more than
S400,000,000. By far the greater
part Of this arises from her trade
relations with the United States.
Italy needs approximately $30,000,-
900 a month to finance her purchases
in this market, and her inability TO
furnish such a sum Is one of the
most pressing problems In interna-
tional finances Of the moment. She is
leaning more and more on London
and Paris for financial support.
Since the beginning Of the war Italy
has raised by various forms Of loans
$500, 100000 lire, or s3,280,000,000
Of which s7OO,000,000 was obtained
abroad by the sale Of Treasury bills,
placed TO a large extent in London
But assistance by her allies even or
so large a scale has not sufficed TO
meet her needs, and 1t now appears
that she is 10 obtain fresh credits
from England and France. Whether
the new credits will be in francs or
sterling is not known, but it is prob
able that the proceeds will be util-
lied in an effort 10 peg" the lire ex-
change rate at an arbitrary level and
maintain it there artifcially, in much
the same manner as the sterling and
franc exchanges have been sus-
fnined.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-03-09
Thursday, March s, 1917.

With the world crying for gold as
It never did before, and production
everywhere speeded up to the limit
the output in 1916 declined. The
principal source of gold is the Trans
vaal, and producers there succeeded
in increasing the yield by S4,287 300
but that was not sufficient to offset
the losses recorded in most other
countries, and the total yield dropped
S9.87O,OOO to S47S,625,0OO. The
Australian output fell heavily, and
so did that of the United States. 1t
seems probable, in view Of the fact
that extraordinary efforts were made
to increase output last year, that the
peak Of production from known
mines has been passed.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-03-09

The depreciation Of gold is blamed
by many for the great rise in prices
which has taken place during the
war period, and those who hold that
view do not expect a general decline
in prices after the war, though a
majority believe that some Of the
disparities will be ironed out Con-
versely, those who are Of the opin-
ion that high prices are due wholly
to the working of the law Of supply
and demand expect a great down.
ward revision when peace is re-
stored. Discussing these conflicting
views, the Alexander Hamilton In
stitute, in its monthly review Of
business conditions, says:
What are the facts? The facts are
that the annual rate of gold produc-
ton has not increased much since
the war broke out, that the demand
for commodities in Europe has in
creased tremendously and that the
business transactions attending the
increased exchange of commodities
have been effected mostly by the
creation of paper currency. After
the war, when these military trans
actions disappear, this paper cur
rency will be gradually retired and
prices will decline. II is more proper
10 say that commodities generally
have appreciated than to say that
gold has deprecated. Prices are
higher in Europe, where gold is
scarce, than in America, where gold IS
unusually abundant. The world sup
ply has merely been shifted, but not
abnormally increased.
If we accept the above conclusions,
then It is a good time TO exchange
other commodities for gold and keep
the gold on deposit, or safely store it
away in short term notes or good
bonds until after the war
The institute apparently overlooks
one point, however. While it is true
that gold production during the war
period has not been greatly in ex-
cess of production before the war,
the fact is that the worlds stock Of
gold money, which is the important
thing, has increased enormously.
Hoarded gold in large amounts has
been coaxed into the Golfers Of the
great banks of Europe, gold jewelry
has gone into the state melting pot
and a smaller proportion of the out
put of new gold has been utilized in
the industrial arts.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-03-09

Statisticians may scorn stock eX-
change transactions as barometer
of business conditions, but the news
boy who stands at the head Of the
Wall Street subway station knows
better. "l'm going to stay on the job
until 9 o'clock tonight" he re-
marked TO a companion the other
day. "They did nearly a million
shares on the board"
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-03-09

it prominently BY printing It with q
special caption and not among financial
notes?
With assurances that anything you
do will be appreciated by the inter
ested parties, and thanking you in ad-
vance, / remain
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-03-09
From a Wall Street Advertis-
ing Agency to a Einan-
cial Editor

Clients OF my Office. who are liberal
patrons Of your advertising columns
have requested me 10 send you the
enclosed interesting data. trust ! am
not presuming by asking you TO kindly
give same your personal attention. II
IL released for publication in to-mor.
rows Tribune. May ! ask you % treat
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-03-09
Relevant Facts

Gulf Oil Corporation.-The com
pany's report for 1916 shows net earn
ings of S17,S93,41O, an increase o:
s7,94s,27S over 1915. Earnings on the
s34,452,0O0 OF issued capital were at
the rate Of 519 per cent, against 2S.s
per cent the preceding year.
Southern Bell Telephone & Telegraph
Company.-Reports for the year ended
December 81 last. net income OF 81
1884, compared with s1,577,4s4 In
1915. After dividends there remained
undivided profits of s462,314.
PENNSYLVANIA Power Merger.-Stock-
holders of the Northern Central Com
pany at a special meeting called for
March II will vote on proposition
made By the Electric Bond and Share
Company to pay $50 a share for the
preferred stock and $50 a share for
the common. The majority sharehold-
ers have accepted this offer, with the
proviso that the same offer be made 10
the minority stockholders. The North
ern Central is one Of the companies
that will be included in a merger OF
PENNSYLVANIA electric light and power
companies being arranged by the
Electric Bond and Share Company, a
subsidiary Of the General Electric Com
pany. The two principal companies
in the consolidation will be the Lehigh
Navigation Coal Company and the Le-
high Valley Transit Company.
Extra Dividends Phelps, Dodge &
Co. has declared an extra dividend Of
SO. 80 per share. in addition TO its regu
lar quarterly dividend OF $3.50. Three
months ago an extra distribution OF
SO a share was made. In each Of the
first two quarters Of 1916 an extra
dividend was paid at the rate of $3.50
and in the third quarter $3.50 share
was declared. Dividends are payable
March 80.
An extra dividend Of 2 per cent on
the common stock OF the Owens Bottle
Machine Company has been declared,
in addition to the regular payment OF
3 per rent on the common and IA per
cent on the preferred. Dividends are
payable March 80.
The Crowell & Thurlow Steamship
Company has declared an extra divi-
dend of 10 per cent, payable March 81,
in addition to the regular quarterly div
idend of 2l2 per cent.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-03-09
Current

The above rates express the cost OF
foreign money in terms of the Ameri-
can dollar. You buy an English pound
sterling for S4.75is; the intrinsic par
ity is s4S6ts per pound. Thus. you
say either that pounds are at dis.
count or that dollars are at a pre-
MUM, which is owing to the fact that
in England the demand for dollars
with which 20 settle accounts in this
country is greater than the demand in
this country for pound. with which to
settle accounts in England.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-03-09
Dollar in Foreign Exchange

Italian lire were less erratic in their
movements In the exchange market yes
terday and closed at IT'S 10 the dollar,
compared with TIA the day before. At
the moment the pressure Of Tires offer
ing from Italy is less pronounced
Russian rubcs went somewhat lower
10 277O cents on small volume Of
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-03-09

business. The rest Of the market was
dull and steady.
Closing rates yesterday, compared
with a week ago, were as follows;
Week
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-03-09

Below is given the current exchange
value Of foreign money in dollars and
cents. together with the intrinsic gold
parity, as calculated by the United
States Mint:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-03-09
Brazilian Ry.
Reorganization
Plan Blocked
French Bankers Fail to Pro-
vide Funds and Indefinite
Postponement Results

Obstacles have arisen which are likely
TO block for an indefinite period the
contamination Of the plans of the
French, English and American bankers
for the reorganization of the Brazilian
Railway Company, now in receiver
hands. While but little information
could be obtained at the Offices OF the
receiver, W. Cameron Forbes, formerly
Governor General OF the Philippines, 1t
is understood on excellent authority
that the difficulties in the way Of the
rehabilitation Of the big Brazilian sys'
tenn may result in the failure OF the
tentative plan drawn up several months
ago and delay the reorganization until
the end of the European war
The principal obstacle which IS I'M
peding the progress Of the reorganiza
ton is said to be the failure OF the
French bankers to provide the S5,OOO''
600 they agreed 20 furnish when the
plans were promulgated, last year This
was the first foreign financial transac
ton permitted TO the citizens oil
France since the war broke out, and il
was believed that by raising TINS
amount of new money the French bank
ers would be able TO salvage a large
portion of the 500 100000 which French
investors had put into the Brazilian
project. Special sanction from the
French government was obtained by the
Banoue de Paris des Pays Bias and by
the Societe Generate to participate IN
the transaction on behalf of the French
committee of security holders. Why the
81 600. 900 has not been raised is not
learned. but it is believed that the
French bankers and inanciers have
found they cannot safely divert that
money to Brazil while the war con
tinues. French interests IN the BRA
lillian property are in the majority and
if the proposed plan had been adopted
the management would probably have
been French.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-03-09

Bank Of France,-Followin arc the
principal items in this weeks statement
Of the Bank Of France, in francs:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-03-09


Silver-Bars In London, 37is pence;
New York, 1888 cents Mexican dollars
5SH cents.
Gold Currents.-Gold coin TO the
amount Of 100000 was withdrawn from
the Sub-Treasury yesterday for ship
ment TO Canada. This, with the $500, 900
taken on Wednesday, makes $1,000, 900
that has been shipped to the Dominion
in two days. Another 100000 will go
forward to-day, completing the transac-
tion. The Bank Of Montreal is the ship
per Of the gold. It is stated that the
metal is going TO Canada as a result of
a special transaction, as the exchange
rate between Montreal and New York
is unfavorable TO gold exports. At pre-
vailing rates there is small loss on
such shipments.
While gold was being shipped from
New York TO Canada yesterday, the
British government forwarded S5,000,-
600 10 j. i. Morgan Co. from Ottawa
Bar gold with a value of S2,500,OO0 has
been received at San Francisco for the
Morgan account. This metal came from
Australia. Total imports of gold since
the first Of the year now total $780,
100000. Since January /, 1915, imports
from all sources have aggregated ST.
903, 100000.
An amount Of 100000 In gold was
withdrawn yesterday for shipment TO
Cuba; also $4,000 for Mexico.
Bank of England.-The Bank of Eng
land reports a decrease for the week in
gold coin ard bullion holdings of 1885,
1855. Proportion of reserve to liabili-
ties is now 1902 per cent, against 1882
per cent last week. Other changes re-
ported for the present week are as fol-
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-03-09
Money and Credit

Increased offerings Of time money re-
suited in a further relaxation in rates.
Although the demand is mostly for
loans on industrial collateral. rates on
this class of accommodation have been
marked down u per cent, and are now
per cent for sixty days and 4 to 4i4
per cent for all other maturities. Loans
secured by a combination of railroad
and industrial collateral are dull and
unchanged.
Call money was a shade easier at 214
per cent. with high rate for the day
Of pa per cent
Ruling rates on money yesterday,
compared with a year ago, were as fol-
lows:
Nn~fordoV Noar
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-03-09

cent. The accumulations on February
"a were less than for any time since
the American Railway Association and
the Interstate Commerce Commission
set out to cooperate in an effort to re-
lieve the car shortage and freight con-
gestion.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-03-09

Commercial Paper.-A broader in
curry has appeared In this market, and
this has resulted in q slightly easier
tone, although thesbulk OF the paper
continues to move at Al per cent City
banks are somewhat more active.
Official rates Of discount Of each of
the twelve Federal districts are as fol
lows:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-03-09
observation-disclosures COmpany.-S'

Sherwin-William Company.-Stock-
holders of the company have received
an official call for special meeting 70
be held April 3 for the purpose o.
authorizing an increase in capital stock
from S9,000,000 to s2l,0OO,OOO. or such
other amount as may be decided upon.
If the new stock is authorized II $
proposed that 100000 be preferred.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-03-09
Brazil Government Defaults

Brazil Government Defaults
IL is stated that another reason why
the reorganization plan has not been
made operative is the fact that the
Brazilian government has been unable
TO resume payment on its public debt.
The Brazilian Railway Company went
into receivers hands in October, 1914
because Of the default Of the Brazilian
government. which guaranteed the ran
roads bonds. The principal obligation
of the company, payable in France Is
25O00O,00O francs, guaranteed AS TO
principal and interest By the Brazilian
Government. There was another issue
OF $500 900 francs In lieu OF interest
on the guaranteed bonds Brazil has
given treasury bills TO the company, but
it has been impossible to distribute
these among the bondholders owing 10
the war. and the unfavorable credit po-
sition Of the Brazilian government has
made it impossible to pledge these as
collateral against loan.
Announcement Of the reorganization
plan was made in December. 1t was
expected that Receiver Forbes would
90 10 France i'm January TO meet the
French committee of bondholders and
the bankers. 1t was learned yesterday
that he has postponed his trip abroad
and may not go now for some months.
Whether this is due to the failure to
declare the plan operative IS not
known.
Unique Plan Outlined
The reorganization plan as agreed
upon by the receiver; Sir Edward
speyer, of Speyer Brothers, and Sir
william Haggard, of London; Lord
Ritchie, Of Dundee; representatives OF
the Banque de Paris ct des Pays Bias
and Of the Societ6 Generate of Paris,
and the Belgian and Swiss committees
was unique in that there was TO be no
change in the amount of securities OF
the parent company or any of its sub
salaries. The several committees, to-
gether with Percival Farouhar, who
has been called "the Hartman Of
South America" agreed that the CAPT
talization was conservative. Bondhold-
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-03-09

The detailed statement compares as
follows with the corresponding week a
year ago:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-03-09

Sub-Treasury. - New York banks
gained from Sub-Treasury s3,530,000
Silver-Bars In London, 37is pence;
New York, 1888 cents; Mexican dollars
JSE cents.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-03-09
Southern Bell Telephone & Telegraph

Company.-Reports for the year ended
December 81 last net income OF ST.
1854, compared with s1,577,4s4 In
1915. After dividends there remained
undivided profits of s462,3ll.
The Oklahoma City times. [volume] (Oklahoma City, Okla.) 1908-1984, 1917-05-03

OLDSMOBILE car: been out 10 months;
has extra equipment; In fine shape; big
bargain W iil or 1881.
The Oklahoma City times. [volume] (Oklahoma City, Okla.) 1908-1984, 1917-05-03
RUBBER STAMPS AND SEALS
In Answering Ads Please Mention Times.

o. X. STAMP AND SEAL co. iiS West
Grand Phone Wal 353
The Oklahoma City times. [volume] (Oklahoma City, Okla.) 1908-1984, 1917-05-03

vet we will sell them at $6.75 during our
sale.
High back, golden oak Rockers, genuine
leather upholstering, was $3.50, sale price
$3.50.
Heavy, box seat Rocker, upholstered in
No. Spanish leather, formerly sold for
s16.S5; one of the biggest bargains in the
store, at $l3.75.
The Oklahoma City times. [volume] (Oklahoma City, Okla.) 1908-1984, 1917-05-03
Kitchen Cabinets

A $3.50 Kitchen Cabi-
net for $9.75. An extra
large cabinet with sugar
and spice bins, was $l9.75,
sale price $15,05.
Latest improved Kitchen
Cabinet, nickeloid top,
roll doors; was a bargain
at $3.50, but you can buy
this sale.
Extra large Kitchen
$3.50, on sale now at $2'
All Oak Kitchen Safe,
5000, sale price S6.95.
$3.50 small Kitchen So
The Oklahoma City times. [volume] (Oklahoma City, Okla.) 1908-1984, 1917-05-03
SEEDS, PLANTS AND TREES
In Answering Ads. Please Mention Times

SWEET POTATO PLANTS Immediate
shipments; Nancy Hall and Porto Rico,
900 to 1000 al $3.50 per ! 900. 10000 up
at 81: tomato plants at tl35: egg and
pepper plants AZ $3.50 per 900, 5000
up at 81 20; all { o. b here; postpaid iOc
per 100. u. f. Jnmlson, Summervillc,
8 C..
The Oklahoma City times. [volume] (Oklahoma City, Okla.) 1908-1984, 1917-05-03

FOR SALE Maxwell 1915 touring car;
also Krit roadster In good running or
der. 1928 West IAN.
The Oklahoma City times. [volume] (Oklahoma City, Okla.) 1908-1984, 1917-05-03
SEALS. RIrBRFR STAMPS.


Stencils. badges. numbering and
dating machines check protectors.
solid rubber type. price marks trade
checks. Ink pads and all stamp sup
plies.
o. X STAMP AND SEAL CO.
lib West Grand Walnut 3b3
The Oklahoma City times. [volume] (Oklahoma City, Okla.) 1908-1984, 1917-05-03
AUTOS, VEHICLES AND
ACCESSORIES
hCS ESSoNlES.
In Answering Ads. Please Mention Time

FOR SALE-5-passenger Regal automo-
bile, 1917 model J good as new at
bargain; s275 cash: balance on easy
terms Phone Wal 7si6. Sunday phone
Wal 63sg
The Oklahoma City times. [volume] (Oklahoma City, Okla.) 1908-1984, 1917-05-03
SEEDS, PLANTS AND TREES
In Answering Ads. Pieass Mention Times
PLANTS.

TIANNTS.
Cabbage tomato all varieties. soc. 100,
postpaid: pepper and celery. sc dozen
postpaid; sweet potato, Pumpkin Yams.
" 70; Bradley, Nancy Hall and Vineless,
$3.50 the thousand: let us quote you our
cane. kafir, corn and sudan grass for
spring planting; field. garden and flower
seeds
SOUTHWESTERN SEED co.
Phone Wal 3237 "a w California Ave
The Oklahoma City times. [volume] (Oklahoma City, Okla.) 1908-1984, 1917-05-03
AUTOS, VEHICLES AND
ACCESSORIES
In Answering Ads. Pissss Mention rimss-

WE pay the highest cash value for used
cars: Mabry Motor Exchange. one hal u
block east Of Lee -Huckins hotel Maple
IA. II W Main