davidaulloa/AmericanStories huggingface dataset:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-09-13
Submarine Boat
Dividend Passed
Company Needs Working
Capital Deposits in
Russia Unavailable

The Submarine Boat Corporation,
whose shares in the Broad Street curb
market moved in spectacular manner
during the excited boom in the war
stocks, announced yesterday the pass
ing of the dividend on the 764,slO
shares of stock outstanding. The COM
pany began paying dividends at the
rate of Sc year in January, 1915. The
dividend rate was cut from S. to 50 a
year at the March meeting.
The concern, it was announced, needs
working capital to handle properly the
untitled contracts on its books, and this
was given as the principal reason for
the omission of the dividend
A large deposit OF rubles which the
company has in Russia is not. accord
ing TO a statement issued by Henry K.
Carse. president, available at this time.
Also large amount of merchandise
has been manufactured for foreign &C
count, but had not been shipped. AS
soon as either of these matters is ad-
justed the company, Mr.. Carse said
will be in receipt of substantial fund.-.
1t was stated further that the con-
pany's plants have unfinished business
amounting 70 $50,000,000. and are work
ing day and night with very large
forces. The company has in hand to
day cash and free marketable bonds o.;
about S750.000, and current accounts
receivable of about 100000, total
Of Sl,750,000
The company has no bills payable
and owes nothing except for current
accounts payable, about S550,000.
"A matter of great Importance is the
probable tax on war profits which will be
assessed by the United States govern
ment under the statute, and II will be
necessary for the company to reserve
sufficient cash 70 take care Of such tax
as may ultimately be determined.
"All Of the work Of the company is
proceeding in most satisfactory man
ner, notwithstanding the high prices
and difficulty of obtaining material.
and the prospects are for very large
increased orders being received as soor
as the company can provide facilities.
THE officers of the Submarine Boa.
Corporation. however, have been work
ing for months past on the proposition
of building fabricated steel cargo yes
sells on large scale. and il is expected
that a contract will be closed within
few days"
The stock of the Submarine Boat
Corporation. which sold at 81 in 1915,
changed hands on the curb yesterday
at 1875.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-09-13
Another Case of IneHic:encv

The protests of the English wool tex
tile trades to the effect that the GOV
eminent might safely make larger
allotments Of wool and tops for civilian
purposes have borne fruit during the
last month in most remarkable man
ner As the result of these protests a
committee Of five men prominent i'm the
WOOL textile trades was appointed. with
the consent of the government 10 in
vettlgate the wool statistical situation,
and IN consequence OF their findings
the government has authorized a re-
turn TO the iltty-hour weekly labor
schedule IN the mills. The findings Of
the trade committee are both illum-
mating and interesting They indicate
entire disregard Of wool shrinkages on
the part OF the government Off .ials in
charge of the wool allotmeRts, as well
as lack OF knowledge with reference
10 the sources of supply. On Decem-
Der 81, 1916, The government wool Off
Gals estimated the quantity Of clean
wool available in the United Kingdom
at l5i,0OO.OO0 pounds, out of total
greasy quantity of 100000 pounds,
whereas the trade committee found the
actual clean yield TO be 1890. 900
pounds, an increase OF Gj.DDO. 900
pounds OF clean. secured wool. Like
wise, the financial secretary of the
War Office. in a statement to he trade
concerning the stocks on June 30 last,
which were some 4U0,000,OO0 pounds
in the grease, estimated the clean Yield
az 200,000,000 pounds, whi,h WAS some
55,000,0o0 pounds less than the actual
quantity. Consumption in the British
Isles for military and civilian purposes
is figured for the first six mo1.hs of
1917 at 372. 900 pounds Of raw wool
or 100000 pounds a month IN full
time AZ the mills. OF the total con-
sumption, only about 22i2 per cent is
for civilian purposes. although Of the
balance considerable production is for
the Continental allies Of Great Britain.
Supplies OF raw wool made available
during the current wear for British
manufacturers include the domestic
British clip OF l24.0o0,000 pounds, I'M
ports COR the first six months of 49,
900, 200 pounds and an estimated i'm.
portation for the last six months Of
this wear of 259.0OO.OOO pounds
First National Bank Of Boston.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-09-13
New York City
Bonds Are Taken
At Private Sale
Securities Issued Last July
All Disposed Of by
Syndicate

J. p. Morgan & Co. announced yes
terday that the entire issue of $55,0O0,-
900 New York City Az per cent bonds
offered last July had been disposed of
at private sale. The members of the
purchasing syndicate were j. p. Morgan
e. Co.. the First National Bank, the
National City Company. the Guaranty
Trust Company, the Brokers Trust
Company. Brown Brothers & Co. and
Harris. Forbes & Co.
The bonds sold by the city consisted
of SAT 100000 corporate stock maturing
July |, 1867, and S7.5OO,000 bonds ma
turing scrially in one to fifteen years.
The larger issue was offered at l0lA
and interest. yielding about 4.42 per
cent. Individuals owning these bonds
are not required to make a statement of
the income derived from them or any
declaration of ownership to the Fed
cral authorities.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-09-13
Dividends

,. NJ -...-..,',
,;'I." $3.50. G.,cbs-
.l'iaenI o. sL'-y nj p.y -
" S'o' Nho'ueIs Vi 'e'"'" ''p-e''''.i go
American Typefoundcrs. Regular quar'e'
~ dividend or ia per cent On the pte'eltL .
ana l per cent on NC Gotlu0l, 7.oS 49,, o..o-
- u ''o'h"o'"e'' -
D@' ~ III
Avery company Regular qusrtely .,ncs
neuahia oc,ober -. Ilae-s ~ record
Sen,,,,bs, 81
-, lid
Baltimore Iube.-Resular quartery o',
uend OF ~ per eent On .ne - .,6rk.
common SUCK payaole ocIo1t' / "
hoIuerS OF record oep'e"oeI - ..,,
hediey ho'd Mihins' hesu.al Il -,
DIVIDEND oi per CENT anu SiT 80 .
dividend o. per csh', Pssa,.r .er
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-09-13

The iron and steel industry now
seems to be completely dominated by
the government. Federal control,
the Iron Trade ReUieuC says, Is "as
much a fact to-day as though Con-
gressional sanction had been in
vcked. Government orders and needs
determine the action of every steel
company executive, whether or not
he holds a contract from the Wash
irgton officials. Neither buyers nor
sellers can gauge their future opera
tions with any degree of assurance,
and the pause in private buying Is
mutually satisfactory.
"The letters which government
requirements have forged around the
iron and steel industry have been
voluntarily assumed, and are being
willingly retained. They are gall
irg in some instances, where the gov
eminent plans to distribute the bur
den equally among different produc-
ers have gone astray. One large
steel company, for instance, is sup
plying certain commodities at well
over 100 per cent of It's capacity,
condition that is made possible
-, sb;f+;Do cor+aip continent 10
uses for which it was not intended
Of the immense facilities and out
put Of this plant, fully rs per cent
are being concentrated on govern,
ment work. Although this proper
ton is not infrequent, the industry
a. a whole. has only small per cent
oc its capacity so engaged, but the
essential need for prompt delivery
gives this a dominating Influence.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-09-13
ReAexes Of War

Shipbuilding in British Columbia.
which was started on a modern scale
only a few months ago, is now an I'M
portant industry, and contracts for the
construction of ships are in hand. the
aggregate value OF which is S27 100000:
These comprise iron steamers and
wooden auxiliary vessels, and the yards
are located at Vancouver, victoria, Fort
Coouitlam, New Westminster and at
Quatslno.
Owing 10 the restrictions, due to the
shortage of ocean tonnage, which nave
been placed upon shipments OF crude
rubber from the plantations of the ar
East. the question of dealing with the
surplus production Ia receiving good
deal of attention in London, the centre
of the worlds rubber market. The
possibility of general curtailment OF
output has been discussed. Another
proposal is that warehouses be erected
to store surplus production. to be put
upon the market as the opportunity
offers.
The output of molly bdenum, a sub
stance used for hardening steel, from
the Province Of Quebec at the present
time is perhaps the largest in the
world. In 1916 Quebec produced 129,-
275 pounds, valued at $4,000.
Additional customs and excise dutle.
have been imposed in Australia, the
principal increase being IS gallon on
imported spirits, with proportionate
advance in the excise of Id gallon.
The excise on beer is estimated to in
crease the revenue by 100000. The
duty on wheat, -four and sacks has
been removed.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-09-13
Relevant Facts
Chemical Companies Organized.-New

Chemical Companies Organized.-New
chemical companies to engage IN the
manufacture of drugs. chemicals and
dyes, with an authorized capital stock
amounting TO s13,1O1 900, were formed
during the month Of August, according
to 1.-THE Journal of Commerce" This
total compares with sl0,2l5.000 for the
month Of July, and stands considerably
above the monthly average. New capt.
tai invested in chemical companies
since the beginning Of 1915 has sggre-
gated $230,670,000.
Jones Brothers Tea.-Sales of the
Globe Grocery Stores and the Grand
Union Tea Company. operated by this
company. amounted to sl,099,S66 for
the month of August. an increase OF
26.5 per cent over the corresponding
month Of 1916, and for the eight
months period sales were S7,553,8l5,
a gain of 2l.4 per cent over last year
Chile COpper.-August production OF
copper was l,7S6,0O0 pounds greater
than in the preceding month. and with
the exception of March and May the
output was the greatest for any one
month this year. Total production IN
August was s,036,O0O pounds. compared
with 6,25O,OOO pounds in July. 6.ll44,OcO
rounds IN Jure and 100000 pounds IN
August, 1915.
Crex Carpet.-The company reported
Yesterday for the eighteen months
ended June 80 last net earnings OF
s3O9, 946. The president of the com
pany says steps have been taken to
prevent any further increase in stocks
by the drastic curtailment IN manu-
facture ard in purchase of supplies
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-09-13
News Digest
Foreign

Russian Troubles Depress London
NEUTRALITY-SUSPICIOUS., Sept. u. - The
stock market was steady, but little in
clination was shown to do fresh bust
ness while the Russian situation is OBJ
scure. Russian bonds and oil shares
were easy, and Argentine rails fat on
poor traffic returns. Gilt-edged secu-
rites and colonial bonds were we'll
maintained and oil and rubber stocks
and few specialties in the mining
section were active and dearer. Chi
nese bonds were firm, with silver.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-09-13
State Calls for the
Condition of Banks

ALBANY, Sept. IA call for the
condition of banks, trust companies and
individual and private banking institu-
tions as of the close OF business on
Saturday. September s, was issued TO-
dav by Superintendent Skinner OF the
State Banking Department.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-09-13
The Dollar in Foreign Exchange

Russian rubles dropped to still lower
level Yesterday. Sales we're reported
at III cents. This compared with
price of 1873, cents the day before.
Swiss francs were frmer. Italian and
French exchange displayed an easier
tendency on light offerings.
Closing rates yesterday, compared
with week ago, are given II the table
below. American bankers have sus-
pended all dealings in German and
Austrian exchange, so that daily quota
tions for either marks or kronen are
no longer available.
IOusfed dollars to thu pound,1
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-09-13
Other Cities
Anthracite Shipments.

Anthracite Shipments. WILKES
BARRE, Penn, Sept. IL. Shipments of
anthracite for the month of August, as
reported 10 the Anthracite Bureau of
to;alled 7,0l3,996 tons.
compared with 6,i2i,252 for July, and
I ,O49,037 for June. when shipments es-
tabished a record mark. In August,
1915, shipments totalled 1851, 1917. For
the first eight months of the current
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-09-13
Wednesday, September ~, 1917

Investment demand for stocks Is
of insignificant proportions, and IN
tie absence of buying power 1t is
easy to break values by selling
short. Some professional speculat-
crs have not hesitated to do So
Much of the recent depreciation III
prices is attributed in the financial
district TO the work of pools-spec-
ulators who have combined to de-
strov values. That they indicident-
ally help to destroy confidence IN
the country's financial position and
50. perhaps, make it harder for the
government to borrow for the war
does not appear to concern them IN
the least. The only thing that
counts is profit. Their tactics arc
nearly always the same. The move
ment begins with a drive against
one or more of the so-called special
ties, which. owing to technical con-
ditions. Weld most readily to attack,
ard when that has gone far enough
the weakness spreads to the general
list, and prices drop sharply. Then
the usual profit taking ensues, prices
recover little, and the short SELL
ers are In a position to do the thing
all over again. But each time some
stocks sell at new low records and
the general list is left little lower
than it was before. When the pro-
cess is carried far enough wave
of real liquidation develops, some
forced through inability of buyers
to put up more margins, and some
coming from frightened investors
who do not understand this war on
prices, see only that their holdings
are worth less from day to day, and
get out from under, regardless Of
the intrinsic value of their holdings.
1t is time that the authorities of
the Stock Exchange took action to
stop such raiding operations. They
have the power to do it if they will
"a word here and there would suf-
fce-and they should do it, if not
from patriotic motives, then as a
matter Of self-preservation.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-09-13

year shipments amounted 20 5l,i0534L
an increase OF nearly Is per cent over
the same period year ago.
Payment To Bank Stockholders.
ALBANY, Sept. l., l9l7.-Jpon app.i..
cation OF State Superintendent Of
Banks George |. skinner supreme
Court Justice Guy, Of New Nor:
County. has authorized the payment o.
an additional per cent TO the depos'
tors of the defunct Washington say
ings Bank of New York City. Inc
dividends paid to date now total 90 per
cent
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-09-13
Current

The above rates express the cost OF
foreign money in terms o. the Ameri-
can dollar. You buy an English pound
sterling at. say. s4.75l.. The intrinsic
PARTY is $4.S6ts per pound. Thus, you
say either that pounds are at discount
or that dollars are at premium, whicn
is owing to the fact that IN England
the demand for dollars with which TO
settle accounts in this country Is great
err than the demand in this country
for pounds with which to settle &C.
counts in England.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-09-13
Money and Credit

Underlying conditions in the local
money market remained unchanged
Yesterday. At the Stock Exchange the
ruling rate for call loans was pcr
cent the SANG as on Tuesday. At the
close some business was done on .
per cent basis.
In the market for time loans basei
on brokers Stock Exchange collateral
offerings continued light, with the re-
sult that rates were firmly maintained.
Loans on industrial securities were
quoted At 6 per cent for all maturities.
Ruling rates for money yesterday,
compared with a year ago, were as fol-
lows:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-09-13
DARWIN P. KINGSLEY,
Company.
New York. Sept. II. 1917.

Note: The article mentioned by Mr.
Kingley was not. as he suggests, based
on transformation" II was. on the
contrary, IN accordance with the facts.
ascertained in regard to such transac-
tionS in which companies other than
the New York Life and the Equitable
were concerned. The article was not
intended TO convey the impression that
the companies were taking advantage
of the unhappy situation in Russia"
There would be nothing improper IN
ettling policies, payable in rubles,
through the medium of the exchange
market Financial Editor.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-09-13

Corporation Returns

marlborough Rapid Transit
1917 1915
July gross s2,9if.702 S2.65o,ss.
Net after taSes...... i,2'6.i67 i.26s,'s
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-09-13

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, 1917-09-13
Finance = Economics

York yesterday that additional appli-
cations for licenses for permission TO
export gold from the country had been
received and forwarded to Washington
1t is expected that a number Of licenses
will be granted before the end of the
week.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-09-13

Silver.-Bars in London, sod, un-
changed; New York, unchanged; Mex
lean dollars, 7Sc, off lc.
Sub Treasury. - New York banks
gained from the Sub-Treasury So
$4,000
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-09-13
Commercial Paper.-The market "

Commercial Paper.-The market was
quiet yesterday, with most OF the pYsl-
ness moving on 5% TO 3'2 per CEN
basis. Banks are not buying much
paper at the present.
Official rates of discount for each Of
the twelve Federal districts are as fol-
lows
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-09-13
Day
a. a.

Gold Export Licenses.-lt was stated
AZ the Federal Reserve Bank OF New
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-09-13
Fall of Rubles and
Insurance PAYMENTS
Financial Editor Of The Tribune.

Financial Editor of The Tribune.
The article in The Tribune this morn
ny which says that certain American
life insurance companies are making
profits by ,he fall IN rubles must have
been based on miSirformation and Ger
taiuly is not consistent with the facts.
So far as ! know the only consiiera-
bic American life insurance companies
doing business IN Russia are tho New
York Life and the Equitable Life.
am informed that the Equitable has
not sent any money to Russia in three
years. and outside of some commit
ments on securities which we had when
the war broke out We have not sent
any money 10 Russia since that time.
Indeed we have a very considerable
accumulation of rubles in Russia now
which we would be glad TO get home,
lut if We brought the money home in
stead of making a great deal Of money.
as your article intmates. we would
lose great deal OF money. In
other words. the Russian business
takes care OF itself: that Is the eN-
pcrience Of this company and of the
Equitable. No other company that
know of has any considerable expert
Cncc.
Your article reads little as though
these companies were taking advantage
Of the unhappy situation in Russia,
which | assure you is not the fact.
ma
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-09-13

Bank CIcarings.-Thc days clearings
at New York ard other cities:
Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1917-04-06
WARDS LAKE
served.

A surprise party was given Mrs.
Martha Hutson at the family home on
the Boulevard road on the occasion
of her 73rd birthday, a number of
neighbors and intimate friends at
tending and serving cake and other
dainties. She received numerous
gifts. among them beautiful Easter
lily.
Mrs. Hugh Klady and little daugh-
ter Helen visited at McCleary last
week.
A number Of young people from
this vicinity attended the old-fash-
toned dance at the Sturgeon Creek
Grange hall last Saturday evening.
They report fine time.
A number of friends of Mrs. L. A.
Woods gathered at her home one day
last week and gave her a surprise
party. The afternoon was spent in
sewing and a delicious luncheon was
served.
Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1917-04-06
PLEASANT GLADE

Mrs. Gates Avery has gone to visit
her son Harold near Big Sandy,
Mont, and plans to 90 to North Da-
kota and visit a brother before re-
turning home.
Mr.. William H. Hawson of Sumas
is visiting at the home of his son,
Charles H. Hawson.
A number of friends joined Mon
day evening in helping Chrles Cramp
celebrate his seventeenth birthday.
Henry Define, wife and son OF
South Tacoma, accompanied by Lii
liam Rinnan, visited the latter's pa
rents, Mr.. and Mrs. G. A. Rinnan,
recently.
Miss Elizabeth Porter, daughter
of H. o. Porter of Oakville, returned
home Thursday after a three weeks
visit at the George Sleater home.
o. c. Van Houten visited at the
r. B. Rowe home over Sunday, re-
turning to Seattle Tuesday.
Charles H. Hawson and son Bert
have gone on a prospecting trip to
Calgary, Alta, in the hope Of bene.
Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1917-04-06

BIG limo NJ fl0oSo0C GloO0.
The Pleasant Glade Grange hall
was the scene of veritable gather
ing of the clans" last Saturday even
ing. when another of the delightful
reunions the various Oranges have
been giving lately was held. 1t took
the form of an old-fashioned basket
social with an equally old-fashioned
spelling-bee as the meain features of
the entertainment. More than 100
Changers and their friends partici-
pated and the neat sum Of $36.25 was
raised to apply on the debt on the
Orange hall. McLane Grange car
ried of the honors+in the contest for
the most popular lady. the award
going to Mrs. Florence Arnold, while
Mrs. Jacob Gunstone, a member of
Pleasant Glade Grange, received the
prize for the champion speller. Rev.
F. H. Mixsell umpired the spelling
contest and the male quartet from
the United Churches of Olympia
Messrs. Gwinn. Elwell, Hall and
Greenbank-added immensely to the
evenings enjoyment. Pleasant Glade
Grange extends thanks to all who CO.
operated to make the occasion sue
cesg. 2N
Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1917-04-06

Helen Cooper is ill with pneumonia
James Walker is home from camp
nursing bruised back.
Ed Steinman went to Aberdeen
Sunday.
Mr.. e. Hunter and Miss Bertha
Pitcher, Mr.. e. Trip and Miss Elsie
Pitcher, prominent young people OF
the younger set, stole q march on
their many friends and went to Che
halls and were married March "a.
Mr.. william Ormsby went 10 Ro
chester Tuesday to get his horses
shcd.
Mr.. Hollis Knapp transacted bus
ines In Centralia Tuesday.
Messrs. F. F.. and Lou Pitcher
ana Gr1ndpa Cooper were home from
meas in Oakville recently.
Messrs. John and William Cooper
and 0radpa Cooper were home from
camp Sunday.
Little Clair Austin passed away
Sunday evening. He was sick only 9
Few days with pneumonia. Mr.. and
Mr.. Austin have the heartfelt sym.
patty OF their many friends.
Mr.. Richardson and family have
moved on the Mr.. J. w. Bennett place
Kalis Heck was home from camp
the first Of the week.
Uncle Joe Blair Ii convalescing.