davidaulloa/AmericanStories huggingface dataset:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-02-27

were 9,eS5,314 shares in all outstand-
ing. The average holding was io9
shares.
National Carbon Company. -State'
ment of earnings for the year ended
December 81 last shows net of s4,624,-
555. compared with s2,550,5lS in 1913.
The balance available for common dlvi-
bends amounted to s4,232,555, equal to
42.47 per cent on S9,965,O0O common
stock compared with 1853 per cent
earned on the same stock in 1915. The
surplus after all charges totalled 3d.
o11OO5. compared with Sl,4s5,5SS in
1915. $685. $50 in 1914, and s495,9O7 IN
1913.
Atchison, Topeka & Santa Fen the
twelve months ended January 81 last
the road earned $50 per cent on lts
property investment, compared with
5.SS per cent for the year ended jan
uary 81. 1916. The report for January
shows gross of S12,641, ABS, establishing
a new record for a single month. Ihis
compares with S9,65S,671 in January
1916. Net, after taxes, totalled S4,l93,-
629, against S2,3s2,999 in the CORE
spending month of last year.
Westinghouse Electric. The share
holders of the company have sub
scribed for more than so per cent oil
the Si5,0OOO00 par value of stock for
which the right to subscribe expired
Fo bruary 81. Kuhn, Loeb e. Co, syn
dictate managers, have concluded nego-
tiations for private sale or a consul
cradle portion of the stock not taken
by the shareholders.
Chicago, Rock Island & Pacific Rail-
way,-Referring to an announcement
from Chicago that the company mas
asked the State of Iowa to amend It's
laws in order that the company may
issue $50, 100000 of preferred stock, the
Rock Island reorganization committee
Yesterday made this statement:
Under the plan OF reorganization
the decision as to the Incorporation OF
a new company or as to the use OF the
charter of the existing company Is lett
TO the committee. The committee has
not vet made any decision in the mat
ter, but has several possible courses
in mind The statutory provisions OF
Iowa are in many respects favorable to
this reorganization, but lack any eX,,
press permission to create preferred
stock, except under conditions which
are not present in this reorganization.
The committee has been informed that
a bill might be introduced to give
specific authority for the creation OF
preferred stock, but the committee IS
not informed as TO whether any such
bill had thus far been submitted to the
Legislature. The committee is advised
by its counsel that number of meth
DDS Of incorporation are available to
it in addition TO the possibility or
using the present charter"
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-02-27
Bonar Law Explains
How Money Was Raised

London, Feb. 26.-Andrew Bonar
Law, the Chancellor of the Exchequer,
this evening gave The Associated Press
the following analysis of the new war
loan:
The new money subscribed to the
war loan is 81 900 100000. The num-
Der of subscribers is 5,289,000, includ-
ing 100000 subscribers for s25,OOO,-
600 of 81 for los Cd war savings
certificates of cash value Of sl9,30O,-
600. If subscribers of one shilling
and upwards but of less than fifteen
shiIlings six pence should be added, the
total number of subscribers would ex-
coed 100000.
The total new money Of f1,OOO,OOO.-
600 includes G126,OO0,O00 subscribed in
the form of treasury bills. There were
no special subscriptions from banks,
whereas in the war loan Of 1915 the
special subscriptions from banks came
TO goo, 100000 out of the total of $685.
600 900 then subscribed. The public
subscriptions in 1915 were, therefore
e416, 900, from about 1,1OO,OOO
subscribers, as compared with public
subscriptions of 1,OOO,O00,OO0 from, al
the lowest, 5,2S9,OOO subscribers.
German Record Overshadowed
The largest German war loan was
the third, which, at the rate of 20
marks to the pound, amounted to $685.
900 900. but as the sovereign, even at
that time, was worth "a marks. truer
basis Of comparison would be TO take
that as f5OS, 100000. The total raised
by the five German war loans is A.
600 900 900 marks, which on the con-
vention basis of 20 marks to the pound
is G2,35O,OOO,OOO, but at 2S marks to
the pound. which is the present value
of the mark, is only 81 ,67S 100000.
The total raised in Great Britain by
means of war loans since the war be-
gan. exclusive Of all short term bor-
rowing, is e2.OO2 900 900. If Exchequer
bonds, of which the average currency
is about three and one-half years
should be included, this total becomes
e2,246,OO0 900. The population of Ger
many is 65,OOO,COO; the population Of
the United Kingdom is 100000.
The total rumber of subscribers
from one shilling upward to the last
German war lean was $4,000. The
total number of subscribers, from one
shilling upward, to the new British
war loan is over 100000.
No figures are available as to the
conversion of the AZ per cent war
loan into the new war loan. The
amount Of the ) and per cent Ex-
chequer bonds converted is not COM
pletely known, but is at least s234,OOO,-
900 out Of total outstanding of $685.
600 .OOO. The total bonds converted
namely. e234,OCC,OOO per cents-are,
OF course. in addition TO the figure OF
e. ,OOO, 900, 900 new money.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-02-27
Monday, February 26, 1917

Nothing seems important enough
to arouse the stock market from the
apathy which has characterized 1t
for the last two weeks. The day was
replete with news, but there was lit
tie response on the Stock Exchange,
at least so far as the volume of trad
ing was concerned. Prices advanced
strongly after the Presidents ad-
dress came out, but that was prob
ably due for the most part to the
fact that the market was oversold,
and the professional element, seeing
no signs of reaction, decided to buy
back the stocks they had sold in ex-
pectation of the fall which didn't
come. The major portion of the
trading consisted in such operations.
The public continues to ignore the
market, which is perhaps the wisest
thing to do in the circumstances.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-02-27
"VICTORY LOAN"
SETS NEW MARK
in WAR FINANCE
Over 100000 SubScrip-
tons Received for Aggre-
gate of $5,0O0,00O, 1000
By FRANCIS W. HIRST


London. Feb. 26.-The amount Of
the new money subscribed to the
war loan, as given out to-day by
Bonar Laws, O00, 000,000-is pro-
digious and even the most hopeful
prophets are staggered by the
achievement. Exclusive of Treas
ury bills the loan still amounts to
S4.35O, 100000. The conversion of
Treasury bills, therefore, is surpris-
ingly small and the result is far
better than was expected from the
Chancellor's previous statement.
More than five million persons
subscribed to the loan. Postoffice
and savings certificates accounted
for $250,000,000.
No doubt the government will eff
feet large reductions in the out
standing Treasury bills. The result
reflects great credit on the Chancel-
lor, the Treasury banks and the pub
Lefty campaign which was waged by
the newspapers and platform speak
ers. In this way many small boards
of gold and silver coin were brought
into the banks of the country towns
by careful folk whose patriotic feel
ings were stirred into action.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-02-27

1t is now apparent that the British
embargo on imports will not serious
ly dislocate United States export
trade, and, indeed, it seems more
than probable that the effects will be
of little Importance. Were the ex-
ports to the United Kingdom Of all
the commodities named in the list
wholly cut off, and not replaced by
other things, our trade would de-
cline S90,000,000 or $f00,000,000 a
year-about S8,000,000 a month.
When it is considered that our total
exports to all countries in January
amounted to S613,OO0,0O0, and that
they were more than S5,481 100000
in 1916, it will be seen that we have
little TO fear from the British ban.
Allowing for exports for account
Of the British government, which
are not affected by the decree, the
loss will not be in excess of $50,000,-
900 a year, which would be equiva-
lent to less than 81 per cent of our
exports TO the United Kingdom in
1916 and less than 1 per cent Of the
total exports. But as a matter of
fact the loss will be even smaller
than is indicated by these figures, for
the object of the embargo is merely
to restrict private imports of some
kinds Of goods SO as to allow addi-
tional cargo space for other commod-
tiles the governments need for which
is more pressing. Therefore, while
certain industries may be affected
in a minor degree, our export trade,
as whole, will hardly be reduced at
all, and may actually increase in
value as a result Of the embargo.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-02-27
U. S. Treasury Finances

Washington, Feb. 26.-The condition
OF the United States Treasury at the
close to-day showed: Net balance in
general fund. $6s,233,s98, total re-
ceipts. s2,144,44S; total payments. g..
26e,5+7.
The deficit This fiscal year is $751;
5t6,e07, against a deficit Of $56,676, 173
last year, exclusive OF Panama Canal
and public debt transactions.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-02-27

The above rates express the cost of
foreign money in terms of the Ameri-
can dollar. You buy an English pound
sterling for S475as; the intrinsic par
ity is s4S65s per pound. Thus, you
saw either that pounds are at a 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 pounds with which to
settle accounts in England.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-02-27
New York

New York City Sells Short Term on-
ligations.-An issue of S5,OOO,OOO New
York City corporate stock notes, dated
February 81, 1917, and maturing from
April % to April q next, and S3,COO,OO0
of revenue bills, dated February = and
maturing from June 4 to June 8 next,
were sold yesterday to local bankers
by the City Controller.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-02-27

I'm connection with his report to
Mayor on the food situation, Health
Commissioner Emerson submits a
table of prices obtained at 600
points throughout the city, showing
the differences between wholesale
and retail prices, from which he
draws the conclusion that "the re-
tailers are evidently making no more
than a reasonable profit" 1t is quite
possible that the statement is correct
but the table upon which he bases
the statement does not prove it. 1t Is
interesting mainly because it affords
an illustration of how not to compile
statistics.
Take, for example, the item "poul-
try" for which the wholesale price is
II cents. The retail price varies IN
different sections from % cents to 80
cents. That is certainly wide range
and might be taken to indicate that
some retailers were eXacting too
great profits or that others were
making too little, or both. But that
does not follow, either, because the
figures contain a fallacy. There are
several kinds of poultry-ducks,
geese and chickens. Also, there are
many grades of each kind. The
price of 80 cents quoted for one dis
trict might be for fresh milk-fed
broilers, and the 22-cent quotation
for cold storage roasters, and the
profit or the latter might be just as
much as on the former, for all that
can be told from the table. And
the picture is false no matter
whether the wholesale price given
is for selected grade of one kind of
poultry or an average of all grades
of all kinds. The comparison of re-
tail prices with a wholesale price"
on such basis and of retail prices
in various districts with each other
is misleading and proves nothing at
all, except that it might be well to
employ a statistician to conduct such
Investigations.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-02-27
News Digest
Foreign
London Anticipates Tighter

London Anticipates Tighter Money.
London, Feb. 26.-The distribution
of the American mail caused a read
iustment of money rates to-day. DIS,
count rates were firmer on the beilei
that money will be tighter at the enc
of the month, when the war loan SUP
scriptions will be transferred to the
Bank of England. e.,
The good war news caused cheeIiu'
ness on the Stock Exchange. Allied
funds we're firm and shipping shares
improved, but the import restrlctlons,
further depressed rubber, tea ana
coffee shares. and made Swedish and
brazilian stocks weak features. Amer
lean securities were irregular, with 2
number of markings in Rock Island
and Union Pacific. nj:
Money was quoted AZ per cent. DIS DIS,
count rates Short and three month
bills. 5sd5A per cent. Gold premi
ums at Lisbon, so.
Paris Bourse.-Paris, Feb. 26.-Irad'
ing was dull on the Bourse to-day
Three per cent rentes, 81 francs %
confines for cash. Exchange on Lon
don, 81 francs S2lz centimes. FIVE
per cent loan, 81 francs 80 centimes.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-02-27

A boycott is proclaimed against
certain foodstuffs, and after a few
days prices commence to come down.
That is accepted by some as proof
that speculation is responsible for
high prices, but it isn't. 1t is merely
a demonstration of the fact that the
law of supply and demand is just as
effective as it ever was.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-02-27
The Dollar in Foreign Exchange

Italian exchange continued to de-
cline, the lire selling at rate
of TAT to the dollar, compared with
7.A1 on Saturday. Marks were shade
easier. The rest of the market was
dull and steady.
Closing rates yesterday, compared
with a week ago, were as follows:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-02-27
Money and Credit

The money market was quiet, with
out much change in rates. Call money
at the New York Stock Exchange ruled
slightly easier at 2A per cent com
pared with 2h last Friday. and some
loans we're made as low as / per cent.
Local institutions are still averse to
entering into long commitments, al
though somo loans are being made
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-02-27

In the company's balance sheet bills
payable are shown to be s6,503,5l5, an
increase of s4,3ss,O15. This jump Mr..
Work attributes to large increase in
inventories, which he says was made
necessary on account of increased vol
ume of business, congested condition
of markets and delays in transporta-
ton.
Total current liabilities were shown
to be s8,516,991, against net quick as
sets, exclusive of inventories Of raw
materials. of s9,2SO,15l. Of the COM
pany's assets on December 81 last, ST.
514,241 consisted of cash.
The company added to its plant ac-
count during the year 1916 extensions
and equipment costing s3,5l9,55O.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-02-27
Telephone:
Hanover 65ls

against industrial collateral at AZ per
cent for sixty days and Az per cent
for ninety days. A number of out-of-
town bankers are lending here at 4
per cent for six months on mixed col
lateral. The amount of business, how
ever, is still small.
Ruling rates on money yesterday,
compared with year ago, were as fol-
lows
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-02-27
Other Cities


Boston & Maine Receivership Perma-
nent.-Boston, Feb. 26.-The receiver,
shin of the Boston e. Maine Railroad
was made permanent by the Federal
District Court to-day. Judge Morton,
in announcing his decision, which FOL
lowed hearings that lasted several
weeks. stated that there was not the
slightest foundation for the charges OF
fraud made against the present board
of directors by minority stockholders.
The protesting minority interests
were characterized by the court as "a
comparatively small but contentious
group, who appear to have resorted 10
charges of fraud or Of breach Of duty
in an effort TO obscure the exact nature
of their real complaint
"The case presents TO my mind SAID
Judge Morton, nothing but an acute
difference of opinion upon matter OF
business policy and action between the
directors and the owners of an over
whelming majority of the stock on one
side and q comparatively small and
contentious group of minority stock
holders on the other"
The road has been in temporary re-
ownership, with James II. Hustis, its
president, acting as receiver, since Au-
gust 90. Receivership was brought
about through petition of the lntercon-
tinental Rubber Company of New Jer-
sey. a creditor, to which the roads d.
rectors assented.
The course taken by the directors IN
requesting the rubber company TO be-
come a complainant was declared 10 be
IN accordance with the silent practice
of the court" and approved in other
proceedings The court said:
THE proposed plan of reorganization
is in no sense fraudulent. Under It the
objecting stockholders are treated eX-
actly like all other common stockholders.
L is not TO be overlooked that under a
receivership the affairs of corporation
are. TO a considerable extent under the
control of the court, and il is at least
probable that the power of the court
could be so exercised as TO prevent an
oppressive and unjust reorganization ii
that were attempted"
Lehigh Order Indefinitely Suspended
Washington, Feb. 26.-The Interstate
Commerce Commission to-day extended
indefinitely, awaiting decision of the
Supreme Court on the issues involved
the suspension Of its order of May z
1915, denying the application of the
Lehigh Valley Railroad for authority
TO continue its interests in and opera
ton of the roads boat lines on the
Great Lakes.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-02-27

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, 1917-02-27

Commercial Paper.-This market was
dull, with some paper moving at "A
to Az per cent for prime regular ma
turtles.
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, 1917-02-27

Sub Treasury. 49, New York banks
gained from Sub-Treasury S3,059,000.
Silvef.-Bars in London, 81 Y pence;
New York, 771s cents; Mexican dollars,
69A cents.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-02-27
Relevant
Information

Sears-Roebuck & CO.-Directors de-
clared a quarterly dividend Of 50 a
share, compared with Sl.75 the previ-
Gus quarter. This puts the stock on
an So a year basis. The stockholders
have approved the proposition to IN
crease the common stock capitalization
from $50 100000 TO S75,000,000 The
directors have also been authorized to
distribute as a stock dividend on April
. the sl5,OOO0OO new common, on the
basis of one new share for each four
now owned. At the annual meeting
l.. J. Rosenwald, son of President
Rosenwald, was elected director to
succeed J. F. skinner, deceased. Other
directors and officers were reelected.
Pennsylvania Railroad.-On Febru-
sry | there we're 90,s05 stockholders Of
tho Pennsylvania Railroad compared
with 93,445 on the corresponding date
OF 1916. OF this number 45,2i2. or
more than half. were women. There
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-02-27
Agreement with Morgan & Co.

The resolution adopted by the Mont
real Council dealing with the transac-
ton Is as follows: THAT the Bank of
Montreal be requested and authorized
TO agree on behalf of the city to the
following conditions proposed by
Messrs. ]. P. Morgan & Co., New York,
for the purchase of civic issues in Eng
land at prices not exceeding the fol-
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-02-27

Bank CIear1nKs.-Ihe days cIearIHgs
at New York and other cities:
Keowee courier. [volume] (Pickens Court House, S.C.) 1849-current, 1917-09-05
MOTHERS! YOUR CHILD
is CROSS, FEVERISH,
FROM CONSTIPATION
II Tongue IS Coated, Breath Bad. Sto-
mach Sour, Clean Liver
und Bowels.

Give "Calfornia Syrup OF Figs" /
oncc-a teaspoonful to-day often
saves sick child tomorrow.
If your little one is out-of-sorts,
half-sick, isn't resting, eating and
acting naturally-look, mother! See
If tongue is coated This Is a sure
sign that its little stomach, liver and
bowels are clOgged with waste. When
cross, irritable, feverish, stomach
sour, breath bad or has stomach
ache, diarrhoea, sore throat, full of
cold, give a teaspoonful OF "Califor-
MIA Syrup Of Figs" and in few
hours all the constipated poison, un-
digested food and sour bile gently
moves out OF its little bowels with
out gripping, and you have we'll
playful child again.
Mothers can rest easy after giving
this harmless fruit laxative" be-
cause 1T never fails to cleanse the lit
tie ones liver and bowels and sweet
en- the stomach, and they dearly love
lts pleasant taste. Full directions
Tor babies, children of all ages and
ior grown-ups printed on each bot
tie.
Beware Of counterfeit fg syrups.
ASK your druggist for q 50-cent bot
tie OF california Syrup Of Figs"
then see that 1t Is made by the Cali
iorhla Fig Syrup Company. ADV.
Keowee courier. [volume] (Pickens Court House, S.C.) 1849-current, 1917-09-05
BOARD SUSPENDED POLICEMAN.
Received Reprimand for Striking Ne
gro Soldier and Officer.

Houston, Texas, Aug. 29.-Mount-
ed Policeman Lee Sparks, who testi-
fed that he struck two Of the negro
soldiers-one of them Corporal Balti-
more-with his pistol last Thursday
afternoon, few hours before the
riot, was one of the principal wit
nesses to take the stand to-day in the
inquiry being conducted by board
of citizens as representatives Of the
municipality into the riots which cost
II lives.
1t was this clash between the police
and negro soldiers that caused a ru-
NOR to reach the negro camp that
Corporal Baltimore had been killed
by policeman. The rumor spread
among the negro soldiers and brought
to climax a smouldering feeling
against policemen negro soldiers had
been harboring for nearly two weeks,
1t was stated.
Sparks told the board Of inquiry he
struck the first negro four times with
his revolver and that Corporal Balti-
more was struck once by him. When
Baltimore started to run shot was
fired into the ground to halt him.
Sparks also told the board that for
striking the soldier he drew a suspen-
sion from the police force at the
hands Of Superintendent of Police
Brock.
Keowee courier. [volume] (Pickens Court House, S.C.) 1849-current, 1917-09-05
3,5OO,OOO Red NeIs.

Washington, Aug. 9.-Member-
ship Of the American Red Cross has
reached the 100000 mark and is
increasing at the rate of $4,000 to
100000 day, according to head
quarters announcement to-day. At
the beginning Of the year the total
was 275,00O.
Branch chapters numbering 2,40O
are scattered in towns and cities
throughout the country and terrific
rial possessions. Illinois leads the
States, with membership Of 514,-
10S. New York, with 461,237, and
Pennsylvania, with 346,960, rank
next.
Keowee courier. [volume] (Pickens Court House, S.C.) 1849-current, 1917-09-05
COTTON FIGURES FOR AUGUST,
Texas Shows Loss Of II Per Cent
=. Carolina Holds Own

New York, August 29.--August Is
generally month OF deterioration
for cotton. and the 2,O4O reports re-
ceived from special correspondents OF
the Journal Of Commerce Of an aver
age date August 23, show decline
Of 81 points, compared with loss
OF 10.l points year ago and 6.6
points in 1915. The severe decline
In Texas Of l4.t points Is wholly re-
sponsible for the loss, since all other
States show gains. with the exception
of Florida and South Carolina, which
remained unchanged.
Percentage condition for the whole
belt Is found to be $50 per cent
against 1873, or a decline for the
month Of 81 points. A year ago at
this time it was CAB per cent; in
1915 1t was 70.7 per cent. and in
1914 1t was 77.G, while the ten-ycar
average is 7l.6 per cent. Important
States showing advances were North
Carolina, 1.2 points; Georgia, O,S
point; Alabama, 1.2 points; Missis-
slpIi, point: Louisiana, % POINTS;
Arkansas. l.lG points; Tennessee,
"a points, and Oklahoma SO points.
Percentage condition by States,
"lth comparisons, follows:
Percentage Condition by Statcs.