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

Much Activity In Wool.-Boston.
May 4.-"The Commercial Bulletin"
will say tomorrow:
Business has continued at steady
pace in the wool market during the
last week, although the demand hard.
ly seemed as feverish as a week ago
Prices were generally higher, some
secured woods showing very consider
able advances, although the market
was giraffe.
"In the West the market has been
very active. In northern Montana
considerable wool was taken and much
activity was reported in Wyoming.
Manufacturers are receiving orders
for military goods more generally than
heretofore. Preference is given the
larger mills because Of their capacity
20 make quick deliveries"
National Bank Cali.-Washington
May 1.-The Controller of the Cur
rency has issued a call for the condi-
ton of all national banks at the close
of business on Tuesday, May /.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-05
Marketwise sentiment is curiously

Marketwise sentiment is curiously
mixed at the moment. Among trad
ers pessimism runs high on the i'm
mediate outlook. But, taking the
longer view, most operators are OPP
timistic. They argue that expendi-
lures Of this government and the
Allies will be on an unprecedented
scale, and that this will probably
cause further initiation and higher
prices for securities in spite of heavy
taxation. There are other things in
the equation which are generally
overlooked and which may upset
this theory. Whether it would be a
good thing economically for the coun-
try and its industries does not enter
into the question. The operator
looks at the thing from the purely
professional side. He is concerned
only with day-to-day fluctuations.
Presently he may have to take less
selfish view of things.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-05
Money and Credit

While money market conditions con-
tinued firm yesterday, the tendency was
not so pronounced as on Thursday.
Call money at the Stock Exchange was
quleter, but the ruling rate held un-
changed at 4 per cent, which was the
high of the day and compared with Az
the day before. Some loans were
placed as low as 3 per cent.
Time money was firm, with loans
based on a mixture Of railway and in
dustrisl securities as collateral, ruling
at 4 to Az per cent for all maturities.
Industrial collateral loans were quoted
j to p per cent above the mixed loan
rate.
Ruling rates on money yesterday.
compared with year ago, were as fol-
lows:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-05

Foreign exchange experts, the men
who are actually engaged in the buy
ing and selling Of foreign money
bills. will venture hardly more than
a guess as to how foreign exchange
rates will be affected in the long run
by the granting to the Allies Of dol
lar credits on vast scale. II is the
consensus of opinion, however, that
rates of exchange on England,
France, Italy and the rest of the
Allied countries will not return to
par until well after the war has
ended. This seems 10 be the obvious
conclusion, taking all things into con-
sideration. Even though the United
States provides the Entente with all
the dollar credits that are required
for thc payment Of their purchases
in this market, the great initiation
and the debased currency situation
abroad are likely TO be powerful off
setting factors that will work as
strong levels in holding the moneys
of these countries under their normal
value in United States currency.
II is true that some improvement
has already taken place in French
and Italian exchange since the ar
rangements have been made for pac-
ing funds 20 the credit Of those gov
ernments. The franc has rallied to
level where it is worth approx
mately liz cents. against recent
rate Of 1864 and a normal value of
1913 cents. Italian lire now have
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-05
News Digest
Foreign

Stocks on London Exchange lrregu-
London, May 1.-The stock mar
ket maintained frmness to-day, with
strength in gilt-edgers the outstand-
ing feature. A good deal of money
which has been held on deposit pend
ing the budget is now available for in
vestment in the war loans and other
good yielding securities. Brazilian
stocks continue in good demand. Rub
bers were better. but shippings. Ar.
gentine rails and industrials ruled
easy.
American securities dropped sharply
on the adjustment parity. More bust
ness occurred in the low priced shares
at the decline.
Money was plentiful. Discount rates
quiet. More Russian credit bills were
placed on the basis OF Az per cent.
IL Is reported that the f10,00O,OO0
French banking credit will be renewed
for another year. Money was quoted
at 81 per cent. Discount rates, short
bills. 411-16; three months bills, "A
per cent. Gold premium at Lisbon,
$500.
Paris Bourse.-Paris, May 4.-Irad-
ing was dull on the Bourse to-day.
Three per cent rentes. 81 francs 80 CEN
times for cash. Exchange on London.
27 francs IL confines. Five per cent
loan. 81 francs So centimes.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-05
Dividends

May Department Stores.-Resular aoa,s...
ly dividend Of ~ per cent on the eon a,',S
stock, payable June TO stock OF NV
May IS
National Acme. Dividend Of J p pc, CO.
payable June 1 TO stock of record May Is; 4
Copper Range-Regular quarterly DIVES. I.
of $3.50 and 81 extra. payable June II ="
stock Of record May %.
Champion Copper. Dividend Of Se.fV' y"
able June 10 stock Of record May 10, =, q
ST. Mary's Mineral Land. DIVIDEND o.
a snare. payable June : TO stock OF r's''
May Is.
Standard Oil Company Of New lot q
Dividend of SO a share. payable June A"
stock OF record May ~ At noon. ....l
Brown Shoe Regular quarterly di''~,
Of $3.50 share on the common stoc<' ~
able June TO stock OF record May i.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-05
France Prepares to
Rehabilitate Industries

A new bill has been proposed by the
present French Ministry in place OF
that offered in January to facilitate the
resumption of industrial activity in the
invaded regions of France as soon as
this becomes possible. The new bill
provides for the opening of credit
for 100,00O,O00 francs. and authorizes
the government to make expenditures
to the extent of 250,000,000 francs TO
permit the accumulation of stock OF
industrial equipment and appliances
that shall be available TO facilitate the
resumption of industrial activities.
This stock shall include raw materials
and goods sufficient to meet the first
requirements Of industrial establish
ments upon the resumption of opera
tons
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-05
u. S. Treasury Finances

Washington, May 4. - Condition of
the United States Treasury at close to-
day showed: Net balance in general
fund, S148,777.031; total receipts, SS,-
S48,257; total payments, s3,76o,S15.
The deficit this fiscal year is S142,277,-
7S4. against deficit of s50,43S,422 last
year, exclusive Of Panama Canal and
public debt transactions.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-05
The Dollar in Foreign Exchange

Rates were practically unchanged
yesterday. Despite Unfavorablc rumors
Of conditions in Russia ruble exchange
improved slightly.
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, 50 that daily quo
tations for either marks or kronen are
no longer available.
IL.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-05
Relevant Facts
delaware & Hudson Railroad

Delaware & Hudson Railroad
Shares Of the Delaware & Hudson Com
pany acted somewhat better yesterday
and after declining from 1922 to lOo
closed a small fraction down at loS a.
Including the returns of the coal de-
pertinent Of the Delaware & Hudson
Company and Of the Hudson Coal Com
pany and income from investments, the
March statement of Delaware e. Hud-
sen shows a net income Of S5ll,99l'
after fixed charges, compared with S49'-
SIC in the corresponding month oil
1916, an increase of Si62,ll5. The IN
crease in wages under the Adamson act
applying to the business of the months
OF January, February and March,
amounting to $14O,759, has been IN
Guided in the one month of March.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-05
Total pounds. ..42,see,3te 3e,s64,533


The net operating profits were com
nuted on a basis of 26.l73 cents a
hound for copper, compared with 26.4S !
cents pound in the fourth quarter OF
1915. c. VI. MscNeil, president of the
company. said the average cost pound
of copper produced from concentrates
vas l0.S43 cents, compared with l4So
cents in the fourth quarter of 1910.
This high cost was due partly 10 the
extremely severe weather partly TO the
increased costs of labor and supplies,
but principally TO the very large charge
made on account Of state and Federal
taxes. The amount set aside for the
quarters taxes, based on existing laws,
was S1,28O,OO0. equivalent to 3.l42
cents a pound of copper produced.
There is no doubt that many other
copper producers are feeling the effects
of high prices for labor and commodi-
ties utilized in the production of the
metal fully as much as, # not more
than. the Utah. In most cases the mar
gin between price received and cost or
production is much smaller than in the
case of the Utah Copper Company.
There are only two producers of i'm
portance which make copper at so low
a cost per pound as the Utah. The 1915
production and a comparison OF cost
are given in this table, compiled by
Dow, Jones e. So.:
Output, lbs. Cost per Ii. Inc.
1916. 1916 1915. ca
Kor,oco.t 112 282 600 $40 40 A.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-05
Totals .4.73e. e4t. 1863 s3.s1o,2so, so2

Per capita circulation on May was
1851; 1916, Sass; 1915, $3A7S; 1913,
$3.50; 1913, S3A56; 1912, S34.5G; 1911,
1885; 1910, S3A45; 1909, S3492; 1905,
S252-. 1907 S3lIG
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-05
Copper Profits
Fall as Costs and
Taxes Go Up
Quarterly Report of Utah
Copper Shows Decline in
Operating Net

The report Of the Utah Copper Com
panv for the three months ended
March 81 last contains statistics which
strongly indicate that the peak Of earn
ings for the large copper producers T.
approaching, if it has not already been
passed. owing to the rapid increase OF
operating costs and higher taxation
The Utah. according to the statement
issued yesterday. showed net operating
profits Of s5,775,6O5 for the first three
months of the current year, against
s61s6.414 in the corresponding quarter
of 1915. and 81, 1903, 946 for the last quar-
ter of 1916. Other income of the COM
pany brought total net profits slightly
above the figures of the corresponding
quarter Of last year, or equal to S4'fo
a share earned for the three months
period on l,624.490 shares of stock,
compared with S4.35 in the 1916 quarter.
Production Of copper for the quarter
totalled 42,866,316 pounds, comparing
by months as follows:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-05
No,;can Petroleum Company. Ltd. of

Mexican Petroleum Company. Ltd, oil
Delaware. Gross profits of the com
pany for 1916 were S9,66S,4 64, compared
with s5,OOO,ss9 in 1915; net prohts
were S7153,O 900, which, after allowing
70. full dividend requirements for the
preferred stock. was equal to sl5.'S
Share on the 392,320 shares of common
stock, compared with $i,93 earned IN
1q1h.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-05

governing such action. Many members
offered TO give their entire time TO the
service OF the country if the Secretary
of Agriculture wishes it,
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-05
Yesterday

Commercial Paper.-The demand was
only moderate yesterday, with IA TO
per cent the ruling rate.
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, 1917-05-05
Elections

r. T. Boiling has been elected vice
president of the Chatham and Phenix
National Bank.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-05

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, 1917-05-05

foreign money in terms of the Ameri,
can dollar. You buy an English pound
sterling at, say, S4.75Ss. The intrinsic
parity is $4S6fs per pound. Thus, you
say either that pounds are at dis
count or that dollars are at pre-
MUM, which is owing to the fact that
in England the demand for dollars
with which TO settle accounts in this
country 8 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, 1917-05-05

Money in Circulation. - Washington,
May A. Money in circulation on May
/. 1917. was as follows:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-05

ahead Of the corresponding week Of
1915.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-05

Distillers' Sccurties.-Julius kessler,
president of the Distillers' Securities
CORPORATION, in a letter sent - +. NJ.
Simmons. chairman of the Senate n
rance Committee, and to Claude
Kitchin. chairman Of the House Ways
and Means Committee. says the COM
pany. which controls plants having
capacity equal 10 nearly 80 per cent OF
the total grain distillery capacity OF
the United States, is prepared and
anxious to do its share in aiding the
government, and all its distillery faclll-
ties are offered for war purposes. He
favors increasing for the period of the
war the tax on distilled spirits from
S1.10 to $500 per proof gallon. This
Increase will, on the basis of last years
Withdrawals, yield to the government
during the present fiscal year Sl46, 565.-
963 in excess Of the revenue derived
from this industry during the fiscal
year ended June 80, 1916, or total OF
1898. l3l 1928.
at is well known" says Mr. kessler,
that alcohol is an essential and indis
pensabe ingredient in the production
of smokeless powder. and that is the
only kind that is used in modern war
fare. Two pounds of alcohol are re-
quired TO make one pound Of powder,
and every time a giant howitzer is fired
about a barrel (ffty gallons) of slco-
hol is consumed. Practically all Of the
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-05
Significant Relations
Money and Prices:
Stock OF money gold in the country. .


Stock OF money country. S3o88eoeOs S236e4842o
peto
Of S8712Q00000 S900O00OC
Total reserve c, national
bank vaults deposit with
banks 1564l94OOO 1205646000
Ratio of total
national banks 1910 108'o
Of S06443O0O S69033000
TbeIi abii notes, net 622bVO 8651,0OO
rgold against deposits
circulation. oob'o $3.50
a - Ayearss
price, OF railroad stocks 00o5 l091e 11499
Average of IL industrial stocks s214 s3O3 e058
Ayearag
Food of living (Annal index $1,000
NUMBER %'3'+'% Hooa' iooooo
Production: . $780,
Untitled u S Steel orders on. ,7irs44 57sss7 sssloci
Pig iron daily aveage) 11e5 1o4S62 1oa422
March february Ayeara
Active cotton spinde, sa2302 s3i7oso Sao2ss7o
ears crop
Wheat bushels 63ssSeooo to2Oooooo
Como bushels 2593241C00
Co bales (exc linters) 1,356,9A
Distribution: , 49,.
Nets shortage OF ca
Net surplus O freight
,-I2
Feb Is
us u1i roads,. -oad..
Gross railroad earnings 1919 +111's 82'o
on[sass or 7 S.'sss FRO, from I.s yssc
ciearings 1885, +320S
Comm failures
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-05

Year ended June 80. TUecrease.
The figures indicate, however, that
while profits may not be so high as in
the past, there is still large margin
at current prices.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-05

Owens Bottle Machine.-This com,
pony reports for the six months period
ended March 81 last net prohts oil al
subsidiaries of S2,7OS,777. compared
with $1,3l5157 in the corresponding
period of last year, an increase OF
81 1913 500.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-05
Weeks Money Currents.-Movemen

Weeks Money Currents.-Movements
of currency at this centre during the
week indicate an abnormally heavy loss
in cash by individual banks here. cSti-
mated at approximately $100.OOO,000.
The shifting of funds incidental TO the
recent government financing and the
disbursements Of the British loan,
cross currents between the banks and
the Federal Reserve Bank through the
Clearing House and over the counter
and also between the Federal Reserve
Bank and the Treasury, have in
jected considerable confusion into the
whole movement. In disburslng the
proceeds of the recent loan the fiscal
agents Of the British government have
apparently made large payments into
the interior. These drafts, drawn
against the balances in New York
banks, have found their way through
the Federal Reserve system for collec-
ton at this point. This has been the
reason for the heavy credit balances
reported BY the Federal Reserve Bank
at the Clearing House this week, which
aggregated $90,679.OO0.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-05

Sub-Treasury.-New York banks lost
10 Sub-Treasury Sl,217,00O.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-05
SN
"The Working Mems Savings Bank

he w Orklng Wien S OaVlhgS Dbl
50 years ago Jay Cooke saved the Union by raDyns all
Americans to support the national loan
As was the policy offer all day Americans the
opportunity Of putting their funds back of the Government IN ~
national emergency.
Our main office and all branches will be through the
afternoon and until 10 o'clock tonight to receive War Loan SUD-
sCriptons.
If YOU have $4,000 you subscribe now
Your dollars and the dollars every good American needed
$4,000 War Loan Certificates
We have purchased Notes Certificates of Indebtedness
authorized under the of April d. These
being issued bear the of 3 per They will
interest
BY arrangement with the BANKERS TRUST COMPANY,
we are enabled Bankers Trust Company $4,000 Cef
Gates Deposit each which secured by 100000 War
Loan Certificate.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-05

Silver.-Bars in London, 1885, cents;
New York, 1914 cents; Mexican dollars,
5S cents.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-05

Bank Clearings.-Bank clesrings At
the principal cities this week, as com
piled by r. G.. Dun e. Co, amounted to
$685.. $50, an increase Of 2S.S per
cent over last year and 57.5 per cent
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-05
DAYS
Over Over Over
1907 15up 80 up soup
l. n % % Gn 10 On

Bank Clesrings.-The days clearings
L New York and other cities:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-05

Gold Movements.-Gold TO the amount
of 100000 was transferred 10 San
Francisco yesterday by telegraph by
the local Sub Treasury for the account
of local banks which are shipping the
metal TO Japan by the next steamship.
The Arvada enterprise., 1917-03-08
The Hand OF HcXiCo.

II Is apparent that the proposal Ind
tnE"n d,nult" form when Iubnrun re
turned to M'Eicu city from Berlin re-.
Gently Ills return from his foreign
post was covered by the fact that Car
rnuzn had rullrd In many Of his dIpl".
mulF for Conferences"
II was declared by high Jnpun"sc
authority on "Wednesday night TINT II
the h"riunn prppOrul OF M alliance
ever reached Tokyo II WINS regarded ~
merely new "buIlrlOn Of German
'kul'ur' nnd that II wns thrown IN ia"
wusi"bHvhui whore II belonged.
II" inserted no such proposal had
been mud" a. the "iubugsy here ana
TINT II II had been no Intention would
has" been puld to H.
II" suld 9TH" whole Idea wns nbso.
lut"ly pr"pust"fDu-.
In order to max" mn nllinucr with
Germany. h" added. II would be noc"s
snry for JnpHn TO bf"nk from IA. niilos
md n"go'lnt" n s"pnrhi" pchc" with
III" T"utOnlc powers Eu, ubOyc MI
TINT. he sud. the japanese Mnccrel,
desired friendly relations with the
United States
The Arvada enterprise., 1917-03-08
What win Congress Do?

What congress viii do. and how
members of congress who openly hnv"
sympaihizcd with Germany In their
opposition To clothing TIA" president
with fun authority to protect Amcri'
can rights will regard tn" revelation
uf h"rnnny's Vaccinations to attack
the l.nI',d States Is the subject of the
k"rn"Si interest.
such II proposal ns Germany IN
StruCt"d her minister to make to M"Ni'
@" borders un nm act "f war. II. nciu
ally, II II not one.
No doubt EXISTS her" now that the
persistent, reports during ia" last two
years Of TIA" operations of German
agents not alone In Mexico but all
through Central America and III" West
indies are based On fact.
Their" * now no doubt whatever
that III" proposed Hllinnc" with Mex
leo was known Ia high M"NlCuu OH
cinls who ar" distinguished for their
nnti.Am"ricauIsm. Among them uro
Rafael Iuhuruu. 'arruuzas minister
T." Germany aud Luis Cabrera. Car
ruuGl \ minister 81 iIuurU.
The Arvada enterprise., 1917-03-08
Emphasizes Our PeriIs.

1t gives new Crcdcncc to persistent
reports of submarine bases on McNi.
can territory In the Gulf OF Mexico
II takes Cogniznncc of fact long rec.
oSniZed by American army chiefs,
that If Japan ever undertook to in.
wade the United States 1t probably
would be through Mexico, over the
border and into the Mississippi valley
TO split the country in two,
|; recalls that Count Won Bcrnstorn
when handed his passports was very
reluctant to return to Germany, but
expressed preference for asylum In
Cuba.
II gives n new explanation to the
repeated arrests on the border of men
charged by American military authorl'
ties with being German intelligence
agents.
Last of all. II seems to show n con
n"ction with General Carranza's re-
cent proposal 10 n"ulrals that exports
of food and munitions to the entente
allies be cut on and an intimniiOn
that h" might stop tn. supply of oil,
so vital To the British navy. which Is
exported from IN" Tnmpico fields
The Arvada enterprise., 1917-03-08
"ZlM M ERMANN."

The document supplies the missing
link to many separate chains Of civ
cumstanccS. which until now har,
seemed To lead to no definite point.
1t sheds new light upon the frequent
ly reported but indrinahlc movement.
of the Mexican government to c0upl.
its situation with the friction between
the United States and Japan.
II ndds another chapter to the ccle
bratcd report Of Jules Cambon. French
ambassador in Berlin before the war
of Gcrmany's worldwide plans for stir
ring strife on every continent where
they might aid her in the struggle foI
world domination which she dreamed
was close ut hand.
1t ndds Il climax to the operations OF
Count Won Bcrnslorfr and the German
embassy in this country, which have
been colorcd with passport frauds
charges of dynamite plots and intrigue
the full extent of which never has beer
publi shed
The Arvada enterprise., 1917-03-08
German Plot Against United States
berns Order to Its Mexico City Minister to Form GermanMex
caapanese Alliance Against the United States the Break
Came Between the Kasers Government and Washnuton.

MISUNDERSTANDING is the text Of the instructions sent
oy German Foreign Minister Zimmerman Berlin to Minister
Eckhard Mexico City, ordering the latter to propose to Carranza
the projected alliance between Germany Japan and Mexco
"Bern )an 49, 197-On the 1s of February intend to
begin submarine warfare unrestricted In spite Of this it is
tenon enteavo to keep neutral the United States America
III this attempt not successful we propose alliance the
following basis with Mexico That shall make together and
together make We shall give financial support and
understood that Mexico is to econuuer the lost territory in New
Mexico Texas and Arizona The details left to you for settle
ment
"You instructed to inform the president Of Mexico Of the
above the greatest confidence is certain that there
will be outbreak of war with the United States and suggest that
the president Of Mexico his initiative should communicate
with Japan suggesting adherence to this pIan the
time, offer to mediate between Germany and Japan.
PIease call to the attention of the president Of Mexico that
the employment Of ruthless submarine warfare now promises to
compel England to make peace in few months.
"ZIMMERMAMM"