davidaulloa/AmericanStories huggingface dataset:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-04-23
German Industries
Taken Over by Russia

From November 10, 1914, to October
Is, 1915, according to "LEconomiste
Europeen," there were placed under
Russian administration 404 German en-
terprises, of which IS were in Asiatic
Russia. There were 143 at Petrograd.
SO at Moscow, 20 at Odessa, II at Khar-
kof, ~ at Rostof, at Baku, s at Kiev
and s at Vladivostok. These enter
prises were further divided as follows:
Food products. g. wood industry. 8;
metallurgical works, 107; mines. u:
chemical products, 40. and textile in
dustries %. Among the commercial
concerns there were 26 doing business
in textiles and haberdashery, Al in ma
chimes and metal, 8 in chemical and
pharmaceutical products and in build
ing materials. There were also Sc tech
nical bureaus and transportation
agencies, 4 insurance companies and 4
hotels.
The industrial enterprises transport
cd from Riga to the interior numbered
$50, including 43 construction concerns
and metal works. 81 chemical works and
1s textile, leather. IL shoe, freight
car and 8 rubber factories. Forty
seven were moved to Moscow, 20 to Pet
rograd and 8 to Nishni Novgorod.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-04-23

When Secretary Of the Treasury
McAdoo raised the interest rate on
the S200,0OO,0O0 issue of certificates
Of indebtedness from 215 to 3 per
per cent he recognized what bankers
here have been pointing out for
week or so. They have insisted all
along that the government should
make its borrowing operations con-
form TO money market conditions.
AS one banker put it, the government
should either borrow from the banks
on 100 per cent patriotism basis or
100 per cent business basis, but
that a mixture Of so per cent pa
triotism and so per cent business
savored Of bad banking. The 3 per
cent rate puts the transaction on
pure business basis, New York City
banks, whileithey would take upward
Of $4,000, 900 if their subscriptions
we're accepted in toto, will be al
lottcd only about S40,O0O,OOO of the
S200000,000. The rest will be dis
tributed among banks throughout
The country.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-04-23
Cotton Goods Trade Quiet
Government Big Buyer from
New England Mills

Fall River, Mass. April 22.-Business
in the cotton goods markets OF New
England was quiet last week The de-
mEnd was fairly good, but the sales did
not reach the totals Of the last three
weeks. Buyers were mostly interested
in spots and goods for nearby deliver
les some were in need OF goods for
deferred shipments. The government
has been heavily in the market for bag
goods. There was some handling of
goods among second hands, which
slightly disturbed the market. The
manufacturers of hospital supplies
have purchased about all their require
nents and are now content to with
draw from the market.
The demand for certain wide goods
has been keen. Narrow goods were not
entirely inactive, and printers and con-
verters have done a fair amount of
business. The call for cotton yarns was
moderate. 1t did not equal the demand
OF two weeks ago, although prices are
very firm and the output of spinning
PLANTS we'll taken care of. The raw cot
ton markets were firm during the week.
Several of the Fall River mills expect
to declare special stock dividends in
The near future. The following are
some of the proposals: Sycamore
Manufacturing Company, 80 per cent
stock and 20 per cent cash; Davis Mills,
so per cent stock; Border City Manu-
featuring Company, 20 per cent stock;
Shove Mills, 80 per cent stock; Mers,
chants Manufacturing Company. 25 per
cent stock and 5 per cent cash, and
Lincoln Manufacturing Company. 30
per cent stock.
The total sales OF cloth last week
are estimated at 225.o0O pieces. OF which
about $4,000 pieces are spots.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-04-23
Banks to Photograph
Checks Sent Abroad

To preclude the possibility of loss
in case the steamer carrying the orig
inals to Europe for collection meets
with disaster, certain local banks have
adopted the device of photographng
checks drawn on banking institutions
abroad. Drafts are always issued in
duplicate. so that in the event that
they are lost proof is available that
they actually were drawn. In the case
OF cnecks. however, there is no such
safeguard. When the Laconia was
sunk many thousands of dollars in the
form of checks on foreign banks were
lost. and much difficulty and incon-
venience was experienced in replacing
them. A great amount of correspond
ence with the persons who drew the
checks was required. By photograph
ING the checks before dispatching them
abroad this trouble may be avoided.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-04-23
Heavy Tourist Traffic
In the Far East

The flow Of tourist traffic from w
United States to the Far East, ~ae'
stopped at the outbreak Of the Wal :
Europe. has again commenced, says ",
American Consul at Hong Kong sA1
present indications are that the s'
rent year will be one Of exeep.''s
travel throughout the whole o. "
Orient. All steamship lines seVins -
Far East from the United States 1sp'"
heavy passenger engagements wen -, 80
the summer. while hotel reservs"0D,
in all the principal Oriental cites !.
especially in Hong Kong, are , ear.
than al any time in the last TOUT s,e
In Hong Kong the principal no's'
already we'll filled. sers,r
Some of~this increased "Snt ne
traffic is of a commercial SORT. p"ll;ng
great bulk of il is Of people uas.;on.
for health, recreation or inssi ss. ths
Most OF the travellers are makin he
round trim from the west coast ~
limited States to Hong Kong oy Wing
Ianan and the Philippines, ress..ed.
y;a North China. The number pIv slss
ing TO Java and the East ino's'
unusually large. III ,he nor.
The wars interference WIZ a. s.s re.
mai course Of passenger franc a..sssgsr
suited in a large amount Of Afrea
traffic from India and Sousn "a The
nassing through Hong hohs ,v o.
Er rI states and TO Europe By We, q
the United States. vessels I'd pas
either direction are crowaeu "a other
49, ~, norts arc difficult to o0's''
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-04-23
F iinal Forecast of
midas Sugar Yield

The Indian Department of Statistics
has issued its final general memoran-
dunn on the sugar cane crop of 1857.
basing its calculations upon reports
received from provinces that contain
90 per cent of the area under cane in
British India. As given in the Ind
ian (government) Trade Journal, the
total area is estimated at 2,4l4,000
acres, as against 2,391,000 acres. the
revised figure of last year, showing
an increase of 1 per cent. The total
yield of raw sugar is estimated at
2,626,OO0 long tons. as against 1884,
900 tons, the revised figure of last
year, or a decrease of 0.3 per cent.
In addition to the areas embraced in
these totals, sugar is grown on a small
scale in certain other tracts in Brit
ish India, and the average area Of such
tracts for the last five years has been
some $4,000 acres. An addition of APP
proximately per cent, or $4,000 tons.
should therefore be made to the total
estimated yield on this account.
OF the total area under sugar cane
in British India the United Provinces
are credited with $50 per cent. the
Punjab with 1873 per cent. Bihar and
Orissa, IL per cent; Bengal. 9.4 per
cent; Madras. 3.8 per cent; Bombay
and Sind. 2.7 per cent; Assam. is per
cent; Northwest Frontier Province. 1.3
per cent, and the Central Provinces and
Berar, 90 per cent.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-04-23
Proposed Tax on Sugar
F. C. Lowry Says Government
Programme VIII Cost Public
50 q Barrel More

f. c. Lowry. manager of the Federal
Sugar Refining Company, who has just
returned from a trip to Washington
said yesterday that Secretary McAdoo's
estimate of a return of S92,000,0OO a
year through an excise tax Of cent
pound is based upon a fiat rate on all
grades Of sugar and is in addition to
the import tariff.
"Including the tariff return" said
Mr.. Lowry. "the total government rev
enue would amount to S130,1l6.000
The price of sugar to the public, how
ever. would be increased 2 cents a
pound, or about 81 barrel, and the
domestic sugar producers would still
absorb their $46,O56,OO0 tariff profit.
"If the price is to be increased 2
cents a pound. why doesn't Congress
enact a straight excise tax of that
amount and eliminate the import tariff
for The time being? A tax of this sort
would bring in a revenue of $lS4,0OO,-
900, and cost the public about the same
as the proposed tariff excise levy.
eve are certain to have high sugar
prices for considerable period, so
that the domestic sugar interests will
continue to make abnormal profits.
With the existing conditions in Eu-
rope there can be no question of for
eign competition for some years. In
the mean time the Tariff Commission
will be collecting data and will be
ready to place its conclusions before
Congress long before there is any pos
sble chance of the domestic producers
nosition being ieopardiZed."
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-04-23
Japanese Camphor Output

According to figures appearing IN
"The Board of Trade Journal" the pro-
duction of camphor in Japan for the
wear ending March 81. 1917, is esti-
mated at 2,147,197 pounds. an increase
of 35.121 pounds as compared with the
actual production OF 1876; while
the estimated production in Formosa
amounts to 6,619,46l pounds, an in
crease Of 52O,S2l pounds as compared
with the actual yield in the preceding
year
The production Of camphor oil in
Japan for 1857 is estimated at
42S7.s52 pounds, an increase Of 275,-
97e pounds as compared with the actual
Weld in 1876; and the estimated
production in Formosa is lO'332'3'S
mounds. or 1.249,153 pounds in excess
~ the actual yield in l9l5-16.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-04-23
Canadians Would SaUe
On Grain Shipments

Grain growers in the Western prov
inees of Canada are advocating on the
grounds Of economy that a large por-
ton OF the exportable surplus OF
wheat produced in that section of
the Dominion should be shipped to
Europe from Pacific Coast ports via
the Panama Canal, instead of being
transported across the continent to the
Atlantic seaboard via the Great Lakes.
Among the representative farmers of
Saskatchewan and Alberta especially
there is a growing belief that the Pa
cific ports of Canada form the natural
outlet for their produce. They argue
that much money can be saved By ship
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-04-23
Australia Validates
Provisional Tariff

Philip B. Kennedy, American COM
mercial attach6 at Melbourne, reports
that the new Australian customs tariff
which went into effect Professionally on
December 3, 1914. the date Of its intro
duction. in the Australian Parliament,
has now been validated by an act
PASSED March 5, 1917. An attempt was
made to remove several anomalies IN
the schedule, but this was not permit
ted by the Prime Minister. who dis
couraged tariff discussions by Parlia-
ment at the present time. 1t is proba-
bic that no change will be made in the
present tariff until the conclusion OF
the war
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-04-23
$4,000 Miles Barbed Wire
What One American Co. Has
Shipped to the War Fronts

Although the American Steel Export
Company, of New York, has not been
directly engaged in the production or
shipment of explosives, shells or prod
ucts used in offensive warfare. it an
nounced yesterday that it has supplied
to the Allies vast quantities OF defen-
sive or protective munitions. There is,
for instance, the single item Of barb
wire. of which this company's ship
ments have totalled over $4,000 tons, an
amount which. when strung out in
single line, would reach a distance of
$4,000 miles. This wire is not the ordi-
nary barb wire known to domestic COM
merce, bur a special military type, very,
heavy and strong, with great four
pointed berbs and painted the grim
olive drab of war. This wire has been
made up in different ways, sometimes
Coiled in a special manner and held by
single strand so that it might be
tossed bodily out in front of the trench,
and the single binding strand severed,
allowing the whole coil to burst open
and uncoil like a great clock spring,
covering the front of the trench with
tangled mass impenetrable to the at
lacking troops. On other occasions,
when time permitted, the barb wire has
been woven into wonderful and in
tricate defensive works, laid out in a
methodical manner on exact geometric
lines. to offer the greatest possible OBJ
struction to advancing troops and yet
allow easy egress for the troops in the
trenches when it came their turn to ad-
vance.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-04-23
Rehexes Of War

In consequence Of a further heavy
call for men to join the srmy, the stats
of London banks arc about to be re-
duced to such an extent that bankers
have been obliged to discuss the ques-
ton Of a further restriction Of business
hours. Some time ago the closing hour
was altered from o'clock TO in order
that the depleted stats might be able
10 cope with the work, but the recent
combing out process has deprived the
banks OF so many important and ex-
perienced members of their stats
whom it is difficult if not impossible
to replace that further shortening Of
banking hours may become necessary in
the near future.
In response TO an appeal issued by
some Neapolitan. ladies urging the
women OF Italy to offer gold to their
country. the Duchess of Aosta has sent
a package OF gold ornaments to the
director general Of the Bank of Naples.
There is a growing feeling, says "The
London Times" that the British com
panies which at present control the i'm
portation and the distribution in Eng
land Of petroleum should either of their
own initiative or through the interven-
tion Of the government agree for the
period OF the war. and any longer time
in which the interests of the nation are
vitality involved TO pool their stocks,
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-04-23
u. S. Loses Suit on Draft
II Called Forged

Judge Learned Hand, OF the United
States District Court, directed a YER
diet yesterday in favor Of the Chase
National Bank in a suit brought by the
government to recover from the bank
s3.527. the amount Of Treasury De
partment draft, which was eashed
when presented with the Endorsement
of Lieutenant Summer, Of the Quarter
masters Department
II was asserted by the government
that an assistant Of the officer had
made out the draft and forged the
lieutenant's signature as an indorse-
ment. Judge Hand held that, as the
United States Treasurer honorcd the
forged document, the government
would have to bear the loss.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-04-23
Monday, April eS, 1917

Adjustment Of the local money
market to the new conditions the I'M
pending United States government
financing will impose is beginning TO
appear. While there has not been
any pronounced upturn in rates or
any undue excitement thus far, GER
tain evidences are TO be seen OF a
hardening tendency which may be
accepted as a reflection of the efforts
Of the banking community toward
further mobilization Of their liquid
resources. The displacement OF
funds by the flotation Of the magni-
tudinous loan programme of the gov
eminent will be farreaching in its
effects. The course that money
rates will take in the long run can
rot be predicted with any degree OF
certainty; yet it is obvious that
S7,OOO,0OO,OO0, or even half or one
third of that, cannot be diverted
from its customary channel without
causing some disturbance TO the
financial fabric. No one fears any
pronounced upset in money rates, for
there is ample time for preparation
the country's resources are enormous
and the banks have the rediscount
facilities of the Federal Reserve
Bank system to fall back upon, as
we'll as the protection of additional
issues Of Federal Reserve notes. 1t
is taken for granted that the gov
eminent has the first call on the
money market from now on. But
the banks must also take care that
commercial borrowers receive ample
accommodation at fair rates; other
wise the enforcement Of the govern
ment's extensive war programme
will be severely hampered at the
outset. Corporation borrowing is
already being restricted in so far
as it is possible to do this, and there
is a disposition among bankers to
discourage operations of this char
acter which are not absolutely nee
essary.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-04-23

ket. Meanwhile prices have drifted
lower during the week. There is
reason TO believe that some large
holders Of bonds, as well as stocks,
have begun a careful liquidation of
n portion of their investment hold
ings to provide them with the funds
requisite to purchases of the new
United States government war loan.
Whether this will be done on any
large scale is doubtful, however, az
it is believed that few holders of
high-grade railway and miscella-
reous bonds are willing to sacrifice
them at current prices, which arc
the lowest since the middle of 1918.
Other means will be found, it is ar
gued, by which participation may be
made possible in the governments
lean. An incident of the week that
aroused interest in corporate finance
was the sale by the New York Cen
trail of S10O0O,000 of Az per cent
notes. This added one more road to
tie group that has found it neces-
sary to resort TO temporary financ-
ing to raise fresh funds after other
means had proved impractical owing
to prevailing bond market condi-
tons. Other roads were the Erie
and the Southern Railway.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-04-23
India's Record Rice Crop

The final official forecast OF the rice
crop of India for the 1857 season.
based on returns from provinces that
contain 90 per cent of the total area
under this cereal in British India,
shows an acreage Of 79,700,00O. which
is per cent larger than the revised
figure of last year The total esti-
mated yield is SA,O79,oOo long tons OF
cleaned rice, or per cent more than
the revised figure (32,s2i,OOo tons) for
1876. The present estimates oil
both area and yield. says the Indian
Trade Journal. are the highest on rae
ord.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-04-23

One factor which has been gen
orally lost sight Of in the considera-
ton Of the money market has been
the cessation of the gold influx. AS
expected, our entrance into the war
and our plan to loan the Allies three
billions of dollars in credits has pre-
cluded the need of further British
gold shipments in this direction. AL
lied gold is no longer required to pay
for goods bought here. The last gold
to come in for British account
reached New York from Canada the
first week of this month. Since then
the movement has ceased entirely.
Up to that time American gold i'm
ports this year had aggregated
roughly S30O,OOO,O0O, and since jan
uary /, 1915, $1,499 100000 British
gold has been a big factor in keeping
the American market easy. Every
time signs have appeared of a stiff
ening tendency the British bankers
have released gold TO us, for it was
TO their advantage to keep rates low
here in view Of their large borrow
ing operations. Now Britain and
the other Allies are going to borrow
of US on an even larger scale, but
no more gold is to be shipped here.
1t will be interesting to see how this
works out in terms of money rates.
Current rates for money are but
slightly above the prevailing level of
the last year or two, with an inclina-
ton toward increasing firmness
The undertone in the market for
time funds is strong, however, due
to the fact that bankers are less lib.
eral with their offerings. Cal
money, on the other hand, is plenti-
full, for the reason that the banks
find this an ideal way for employing
their surplus funds pending expect
cd developments. Commercial paper
is being discounted at 4l4 to Az per
cent for the longer maturities, COM
pared with a recent rate of around
4 per cent. 1t might be said that
the entire money market is in a state
Of transition. Like all other mar
kets, it must adjust itself to the new
order of things. On the smoothness
with which this is accomplished de-
ponds much.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-04-23
Bahia Cacao Crop

A cablegram from the Amer, me- .,..ss
an, General at Rio de Jsnei,,' ss s.i
that the National Agriculture crop d
estimates the Bahia eaes'
nearly 1000 900 bags.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-04-23
DIVIDENDS
cAsroN- WILLIAMS & MIGMORE, nc

GASTON, WILLIAMS a WfUMUHhs ~"
DIVIDEND NO. 4.
At a regular meeting OF the bosfe .. "a
Directors held April 20. 1917. dvlosso
OF one Dollar $1,000 per share was ~
clared payable az the Guaranty lro ,s, s'| "a
pany OF New York on May 10. 1871 ~
stockholders OF record at the close OF Ou'''
ness on May !. 1917.
Dated. New York. April 20, 1871
ANDREW w FRANK, Treasefeh
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-04-23
TUE PULLMAN COMPANY.

DINTDENU No, VI -, -,
A quarterly dividend Of two do.ss,ss ~ 4.
stockholders OF record at close Oh oss'h'''
April 30th 1917 s,..v
A. S. WEINSHElMER. Secre'AV'
Chicago. April 20. 1917
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-04-23

After the success New York State
experienced with its $25,OOO,OO0 a
per cent bond sale early this month
it might have been expected that
rev municipal issues would be &C
corded favorable reception, but
developments of the last week have
shown such is not the case Some
municipalities have had rather dis
appointing experiences in their at
tempts to sell new issues. The city
of New Haven, for instance, was un-
able TO dispose of $56O,OOO of As, re-
ceiving only three bids, all of which
were rejected. Bids for San Fran
cisco loan were insufficient to cover
the amount of the issue, while the
same was true with an Albany offer
ing of few days ago. The explana-
ton of such apathy is probably fur
nished by the proximity Of govern
ment financing.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-04-23

1t used to be the fashion for the
successful banker, who invariably
wore side whiskers and an air of
supreme virtue, to tell on all proper
occasions how he rose from Office
boy to president. His formula was
to begin by sweeping out the office
at an age when every boy should be
in school, thereafter working harder
and longer than any one should,
abstaining from all pleasure, and all
the while saving every penny
possible. But fashions change in
banking as in other things, and now
we learn that success in that field
comes in another way. James j.
Corbett, who as eX-champion heavy
weight should know, says in the
journal Of the American Bankers
Association" that it depends on
thinking right thoughts" and upon
following this routine: Brush the
hair dry, cut out cigarettes, beware
of the cocktail habit, choose your as
sociates, regularly exercise, breathe
in deeply the pure air of the morn
ing; walk, walk, walk"
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-04-23

Apathetic conditions have again
prevailed in the general bond mar