davidaulloa/AmericanStories huggingface dataset:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-27
Dividends

GOODYEAR Tire ard Rrbher.-Regia quar-
terly dividend Of per cent on the common
stock, payable June to stock OF record
May 10
Swift & Co.-pevular quarterly dividend
Of 81. payable July to stock Of record
June Q
New York Trsnsit.-Regu'ar quarterly
dividend of 81 a share. payable July IA to
stock Of record June 20.
Great Atlantic and Pacific Tez.--Regu'ar
quarterly dividend Of IA per cent on the
preferred stock. payable June /.
Mckinley Darragh-Sayage Miner.--ReVular
quarterly dividend of 3 per cent, payable
July to stock of record June 3.
Atlantic Coast Line Of CONGRATULATIONS
lar quarterly dividend Of $50 a share, pay
able June 3. Books close May 81 and reopen
June ..
Shawmut Steamship. dividend Of % per
cent on the common stock. payable June 10
TO stock of record June |.
Middle West Utilities.- Regular quarterly
dividend of 80 cents a share on the common
stock. payable July to stock OF record
June %.
Liggett & Myers Tobaeco.-Reguls- quar-
terly dividend Of IL per cent on the pre-
ferred stock. payable July . to stock OF rec
ord June 10.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-27
Gold in Treasury
Breaks All Records
Increased Income of $780,.
100000 Over Last Year At.
tributed to Patriotism

Washington, May 26.-The amount of
gold flowing into the Treasury these
days from ordinary sources Of taxation
has eclipsed all previous records. For
the first twenty-four days Of May it
aggregated s159,057,267, bringing the
total for the fiscal year up to s794,567,-
337, or approximately 100000 900 more
than a year ago, the total for which
then stood as new high record.
The chief source Of revenue thus far
in May has been the income tax, which
has yielded sSS,714,922, against 49,
S35,s34 for the corresponding period
last year. The tremendous increase is
attributed to the patriotism of the tax
payers, who, believing the government
needs the money, are making their pay
ments a month in advance. Officials
estimate that the income tax will yield
approximately 1895 100000 this year
which is more than s50,000,000 in ex-
cess of the sum estimated last fall
when the amendment increasing the
tax was enacted.
Next in size are payments of inter
nal revenue on whiskey, beer, cigar:
and cigarettes. These payments, to-
falling s3S,597,474 for May, are so pei
cent higher than for the same perioc
last year. The increase in these taxes
is attributed TO what some official!
term a lack Of patriotism, or the de
sire of owners of the commodities t.
get them out of bonded warehouses be
fore the taxes are doubled under tn,
war revenue bill now pending in Con
gress.
Customs receipts .61S,2 le- show
an increase of approximately $500,
900, and miscellaneous items, including
the thousand and one smaller source:
of revenue, jumped more than 100 pei
cent, to s9,i26,652. Virtually the only
tax which did not exceed expectations
was the tax on munitions. and this has
fallen somewhat under the sum pre-
dlcted.
Total receipts for the month arc ap
proximately three and one-half times
as much as they were year ago.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-27
War Funds Redeposited

Washington, May 26.-The Treasury
to-day began the practice Of re-de-
posting a portion of the proceeds OBJ
tanned from certificates of indebtedness
by placing l2s,j93,OO0 among the var
ious banks and trust companies which
subscribed TO the latest offering OF
s2OO,OoO,0OO in short-torm certificates
OF Indebtedness.
The practice is In line with the an
nounced policy Of returning to the
money markets such funds as are not
Immediately needed to finance war
needs. Most of the banks taking the
deposits are in New York, and the East.
A number Of other banks notified the
government that such deposits were
not desired.
The money in this case will remain
on deposit possibly ten days-until it
is needed by the department to meet
American or Allied needs-when it will
be withdrawn with accrued interest at
. per cent.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-27

American participation in the war
On the side Of the Allies has re-
suited in a considerable enhance
lnent of security values on the Lon
don Stock Exchange. On the mere
prospect of that event the market
value of 3S7 representative issues on
that exchange rose SS4,945,OOO in
the month which ended with March
20. When war was actually declared
values increased much more rapidly,
the advance in the month ended April
81, according to "The Bankers Mag
azine" of London, being no less than
ScfS,140,000. Thus in two months
these securities have risen no less
than S3O3,0S5,00O. This advance is
the more remarkable because it &C.
Cured during a period when atten-
ton and trading were largely CEN
tired on the new war loan, which is
not included in the calculation. The
net loss in the market value of these
securities since the war began in
Europe has now been reduced t.
s3,3S0,000,000. A notable feature
of the latest tabulation is that prac.
tically every group of securities
shared in the advance.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-27
The Dollar in Foreign Exchange

Foreign exchange bankers have been
much interested during the last week
IN the new policy adopted by the gov
eminent authorities toward gold ship
ments out of the country. They have
realized that rates will be affected by
any artificial means that may be en-
ployed in restricting the free flow OF
gold i'm connection with settlement Of
the trade balance. Nevertheless, there
has been more or less approval of the
action taken at Washington in assum-
ing active control and regulation Of
such movements during the remaining
period of the war. England, France,
Germany-in fact, all the European
belligerents long ago found such a
step necessary TO conserve their sup
plies Of the metal. For two years
past Great Britain has let no gold out
Of the country excepting through Off
Cial channels.
The fact that the United States has
at last undertaken control of gold
shipments became known during the
past week in connection with further
exports to Japan. Although such con-
signments have not been forbidden, the
government authorities have the stu
alton so well in hand that they can
easily check any great outflow Of
gold by nterposing obstacles that
tend to increase the cost of the ship
ments. As matters now stand. bank
ers who want to export gold from
New York to Toxic must get Washing
ton to o. X. the Geographic transfer
OF the metal to San Francisco.
Exchange rates have fuctuated with
in a narrow range as rule during
the past week. Russian rubles were
weak at the close. The news from
Petrograd is not of character to
inspire great confidence in an i'm
mediate rehabilitation Of Russia'ss
credit position Sterling, francs and
Italian lire have held steady. Some in
terest was excited toward the end Of
the week in the pronounced strength
Of Spanish exchange, with pesetas
crossing 22 cents. The belief that gold
shipments to Spain from the United
States from now on will be restricted
played part in forcing pesetas higher.
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 year
ago. would be about as follows:
Cost Of one dollay
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-27
Denmark Builds Wooden Ships

The building of wooden vessels is
now under way in Denmark, and, ac-
cording to the American Consul Gen.
eral at Copenhagen. although the start
is small, the experiment viii be pushed.
The decision in this matter has been
fastened by the submarine warfare Of
Germany. At many ports in Denmark
temporary arrangements have been
made for the laying down Of wooden
ships. Many industries are threatened
with stoppsge due TO the lack OF raw
materials, and the workers can thus be
given employment at the shipyards
building these new vessels.
The type being constructed Is q
standard one. being Of three to four
masts and having loading capacity OF
500 to 800 tons. These boats will also
be furnished with a motor. There are
now building ten OF this style Of craft.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-27

Loss Of gold to Japan is by no
means as unfavorable as would be a
loss of the metal to South America
or ether neutral countries. When we
send gold to Argentine. for example,
il serves TO settle an equivalent
amount of our debt TO that country,
and there its usefulness ends so far
as we are concerned. The gold which
gees 20 Japan, however, indirectly
benefits us in no small degree, for
the reason that it is utilized there
as a basis for credits granted TO
Russia, Great Britain and the other
Allies. A large programme involv-
ing loans 10 the countries named
and also 10 France, is now being
worked out in Japan and The credits
so provided will remove just so much
Of the burden of Allied financing
from our shoulders. 1t does not fol
low, however, that it is desirable to
export gold even to japan at this
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-27
Horses Available for War

There are now In the United States
only about 100000 horses fit and
available for artillery and cavalry ser
vice, according to IN estimate by +.
Ray Hoskins, dean Of the New York
State Veterinary College. He estimates
the total supply Of horses in this eoun-
try at 2s,0o0,00o. More than 10000, 900
Of these, he says, are In active service,
and 80 per cent Of the remainder are
too heavy for military service, while Is
per cent are too old or physically IN
sound.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-27

The German Imperial Clothing Of
fee has begun a system of direct re-
lief for the civil population. IL an
nounces that il has ordered $4,000
ready-made mems suits, to official pat
tern and size, which will be dis
tributed all over the country for sale
at low prices to the poorer classes Of
the population.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-27

sterling at, say. s4.75ia. The intrinsic
parity Is s4.s6S per pound. Thus, you
say either that pounds are at q dis
count or that dollars are at q pre-
MUM, which is owing to the fact that
IN England the demand for dollars
with which TO settle accounts in this
country is greater than the demand in
this country for pounds with which to
settle accounts in England.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-27
New York

Resolutions for de Aguero.-Gover-
nors of the Consolidated Stock Ex-
change yesterday presented NJ. Z. De
Aguero. the retiring president, with n
set OF resolutions expressing their ap-
probation of his services in that office
covering five consecutive terms
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-27

weekly statement Of the Clearing House
Indicated that, in the face of heavy
shitting OF credits, occasioned by the
payment OF '2oO'OOo.oo0 Treasury GER
strengthened their cash position' the
surplus increasing S2e,e75,25o. An in
crease OF s5S,473,000 in the loan item
was due TO the investment by the banks
in the last Treasury offering.
The actual statement was as fol
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-27
Relevant Facts
Missouri Pacific Railway System

Missouri Pacific Railway System
For 1916 the total operating revenues
we're ss9,972,s12, an increase Of &c.,
472.221 over 1915. Net operating reve'
nues amounted to sls,s3o.4l5, an in
crease of s2,61S,4l6.
International Niekel.-Constructicn
of the company's new refinery plant at
Port Colborne, Ontario, Canada, is pro-
crossing rapidly. The foundations arc
all completed, and tho steel work on
the main building is about finished
The plant when complete will cost
about 100000. II is expected that
the first nickel will be turned out next
December.
Electric Railway Statistics-A COM
parison of electric railway statistics
for the month Of February, 1917, with
figures for the corresponding month of
1918, compiled by "The Acra," indicates
that the expenses of electric railways
in the United States are increasing
faster than the revenues. This condl-
ton is said TO be particularly noticea'
BILE in the East. Data for February
representing 9,l23 miles Of line of COM
ranies scattered throughout the coun'
try, figured on the per mile oil line
basis, indicate an increase in operat'
:rg revenues of 3.lS per cent, IN operat'
ing expenses Of sos per cent and de-
crease in net earnings of 6.99 per cent
Data representing 1924 miles of line
indicate an increase in the amount OF
taxes paid of $40 per cent and q de-
crease in operating income OF 1888 pei
rcent. The operating ratio for the coun'
try as a whole has increased from 63.7e
in February, 1916, TO 1872 in 1917. The
increase is largely due to the increase
in the operating ratio Of the Eastern
District. Slight increases in the oper-
ating ratio Of the Southern and West
ern districts have also occurred.
Atlantic Gulf & West Indics--In the
first quarter of the current year the
company's net income amounted 10 So
500. +S7, against S1,l73,l7S in the cor
responding quarter Of 1916.
Delaware < hudson.-L. +. Lofee
announced that on June ! &. ). sims
will become resident vlce-pres.dent OF
the company, with office IN Montreal,
Que, and that i. p. Gutelius will be-
come vice pres .dent In charge OF the
operating and traffic departments,
with office in Albany, N. T., succeed
ing Nr. Sims.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-27
ReAexes Of War

A London correspondent writes of
the British shipping situation:
"Shipowners are like farmers; they
never admit that they make any
money. But there is a suspicion that
no industry has ever made so much
money so very easily as shipowners
did during the first two years of war.
Now that the Shipping Controller has
requisitioned 30 per cent Of the ocean
going ships on blue-book terms, it is
quite likely. as Mr.. Bonnr Law antici-
rates, that their owners will not earn
profits this year up 10 the pre-war
standard. But seeing that they gath
cred in such vast sums in the two
previous years, and sold off so many
vessels at three or four times their
original cost, there is sound justice IN
not allowing them to make up the drop
10 this years profits out OF the excess
duties paid or incurred by them IN the
earlier years of war. We shall be told.
q course, that the British mercantile
marine cannot be restored alter the
war to It's old dimensions unless ship
owners have very large sums IN hand
with which 10 build new ships at the
inevitable high prices. IL is sufficient
10 point 20 the very large number OF
lost British steamers OF all classes
which have been insured In the Gov
ernment War Risks Office Mt low rates
and upon which claims have been PAID
up 70 four times the pre-war book
values. The losses paid for by the
War Risk Office and the insurance
market will provide ample funds for
The rebuilding Of fleets after the war.
came across a typical example during
The war loan campaign. A firm owning
tramp steamers appeared as sub
seriber Of over 100000 20 the war
loan. asked how they came 20 pos
S.sS 40 mach loose money; the ex'
PLANTATION given was that three steam
ers had been torpedoed. Further IN.
quires revealed the interesting fact
That three steamers, worth some SD "A
Ton before the war. had been insured
az the inflated war values OF flO ron
AT the then government rate OF two
guineas per cent. and had been sent
20 the Bottom. Hence what the mar.
sst calls very profitable sale" and
100000 In war loan stock. There VIII
De plenty OF money coming out Of ship
owners stockings TO build new
SHIPS when the war is over"
Two Of the principal factories Of the
German Gunpowder Trust have declar-
ed dividends Of 20 per cent and two
others Of is per cent. Three OF these
factories are paying dividends on cap
ltsls which were doubled last year. The
herman Arms and Munition Company
o. Berlin has declared q dividend Of
~ per cent.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-27

Since the beginning Of the war the
Imperial Supplies Department Of New
Zealand has paid 70 producers Of the
Dominion $4,000 600 aSr wool O.,s meat
for the British army. Froysn meat
purchases have amounted to 10000
600. WOO! $4,000, 600 and cheese &c.
100000.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-27

time. Large as our stock Of money
gold is it exceeds s3,l00,0OO ,OOO-
we are likely to need it all if the war
should be long one.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-27
Saturday, May 26, 1917

There is no great mystery IN the
cold export movement to Japan,
Washington reports TO the contrary
notwithstanding. However undeslr-
able the shipments may be at this
time owing to the unfavorable effect
On the American money markets, the
fact remains that enterprising Japa-
nese exporters and merchants are
merely taking out of the United
States what properly belongs to
them. They are taking payment in
hard cash for goods that they have
sold to us. They might take securi-
ties. or commodities, or anything
that suited their taste. That they
have elected TO take gold is our mis-
fortune. that is all. But it is not for
the debtor to choose the manner in
which he shall settle his obligations.
The gist of the whole matter Is
+ thai for year or two Japan mas
been manufacturing and selling 10
the rest of the world far in excess OF
what she has had to buy. She has
taken Germany's place in many In
dustries and many articles of every.
dav use in America and other coun'
tries bear the imprint MADE In
JAPAN" where before the war the
stamp would probably have beer
Made in Germany" The result OF
all this has been 10 bring great pros
rerity to Japan and to build up a
very large trade balance IN her
favor. Her position in the interna-
t,onal markets has been much the
same as that Of the United States
only. of course, on smaller scale
She has sold goods and munitions to
Russia. to England, and to France
The United States, too, has bought
freely in Japan; in fact, like the
ether great nations, we have bought
far more than we have sold to the
island empire. In 1916 our pur-
chases in Japan exceeded our sales
to that country by approximately
Ss5,0OO,OOO. Now our purchases are
exceeding our sales at the rate OF
about s1OO,OOO,OOO annually. The
gold that we are shipping to Japan is
going 70 Toxic to settle this debt.
/ Normally our exports to Japan
would about balance our imports and
! il would not be necessary to pay IN
cash.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-27
Cost of one dollar.

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, 1917-05-27

The Union Trust Company Of New York has leased tor term
of years the banking floor Of the Century Building adjoining It;
Main Office 80 Broadway. The additional space I" used
bv the Trust Department of the Company but the
through the Company's own building
The Growth of the Trust Department has been steady and con-
In forty of the fy'one years since the Company
began business the of property held for
sona trusts has shown and 1900 this aggregate
has been more than hpled
The fact that the Company caring for property for the
third and fourth generations Of those who originally entrusted
their property clearly indicates satisfaction the part OF
its clients
Conference correspondence concerning trusts OF all
kinds is cordially invited.
UNION TRUST CO.. 80 Broadway
CAPITAL AND SURPLUS $500 600
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-27
1,341,e52, 1000

Total liabilities. 1,34l ,9oE,OUo
Gold reserve against net deposit and
note liabilities, 62.3 per cent.
Cash reserve against net deposit and
note liabilities, CTS per cent.
Cash reserve against net deposit liza
bilities, after setting aside 40 per cent
gold reserve against net liabilities on
Federal Reserve notes In circulation,
6S.7 per cent.
In the above statement the principal
items compare with one year ago as fol-
lows:
Total gold reserve -. Inc. S183, 62t 900
Bills discounted and accept
ances bought. ...... Inc. $780,, 900
Due 20 member banks. Inc. 336,646, 900
Net liability for notes. inc. 19,4e5,0OO
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-27
Paris BOurse

Paris Bourse. May 26.-Trsd-
ing was quiet on the Bourse to-day.
Three per cent rentes, 81 francs 20 GEN.
times. Exchange on London, y francs
10 centimes. Five per cent loan, 3,
francs So centimes. The Boursc VIII
be closed Monday.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-27
Statement Of Imperial
Bank Of Germany

psri.l Bank Of Germany, Issued TO-DAY. shsws
the foll0wips change,
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-27
News Digest
Foreign

Holiday on English Exchanges
London, May 26.-The Stock and Bal
tic exchanges here and the Cotton Ex-
change in Liverpool are closed to-day.
All exchanges in both cities will be
closed Monday.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-27
Money and Credit
Federal Reserve Banks
WASHINGTON, May n

Washington, May 20.
Combined resources of the Federal
Reserve banks have reached the new
high record of 1854 ,952, 600. The
boards statement of the conditions
May 25 shows:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-27

Loans and discounts SO. 7Os. OPT 600
Reserve in own vaults. 430.538 600
Res in Fed. Res. Bank. 315.e35 600
Reserve elsewhere. 61.556 900
Net demand deposits. :. %, $50. e78. 600
Net time deposits. 203.51e.0 900
Circulation .............. 27,5t6, 900
Aggregate reserve...... 8o8.07e, 900
Excess reserve. t76,42s, $40
United States deposits deducted.
s96.37O,0OO.
The changes from week ago follow:
Loans and discounts. -. Inc $58,473, 900
Res. in own vaults. Dec. 32,367, 900
Res. in F. r. Bank. .... Inc. 69,05s, 900
Reserve elsewhere. .... Inc. $4,000
Net demand deposits. 49,. Inc. 43,3et 900
Net time deposits. ... Inc. 4.744,0O0
Circulation .......... Dec. 10000
Aggregate reserve. Inc. 37,628, 900
Excess reserve. Inc. 29,675,250
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-27

Bank Clearings.-The days clearings
at New York and other cities:
Exchanges. Balances.
New York. -. 1857 ,6o6,e73 $4,000, ia
Baltimore 800. 5,978,366 1.019,1e3
Boston .... 45,2t6,o51 13,647,747
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-27

Sub-Treasury.-New York banks lost
TO Sub-Treasury S2,30l 900.
Silyer.-Bars in London, 1875 pence;
New York, 745s cents; Mexican dollars,
5Sis cents.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-27

Government Buying Silver.-The
Treasury Department announced yes
terday the following purchases of sill
yer: From the American Smelling and
Refining Company 100000 ounces for
delivery at Philadelphia at s0.7525 per
ounce, and 100000 ounces for delivery
at San Francisco at $0.7650 per ounce;
from the United States Smelling Com
pany, 100000 ounces for delivery at
San Francisco at $07650 per ounce.
Acceptance Rates.-Current bid
prices for prime acceptances are as
follows: