davidaulloa/AmericanStories huggingface dataset:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-07-13
News Digest
Foreign

London Stocks SHOW Recovery.-Lon-
don. July 12.-The stock market recog-
cred from Wednesdays late depression,
and a fair business was transacted IN
Allied stocks and glt-edged securities
at generally steady prices. The Rus
sian news had a cheerful effect and in
dustrial shares were active, but specu-
lative stocks were dull and Argentine
rails easv. American securities were
frmer on A small amount of business.
Paris Bourse.-Paris, July 12.-Trad-
ing was quiet on the Bourse to-day,
Three per cent rentes, go francs %
confines for cash; exchange on Lon
don. 81 francs 10 confines; D per cent
loan, SO francs 40 centlmes.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-07-13
ReAexes Of War

The Russian Minister of Agriculture,
according to a Reuter- dispatch, has pre-
pared a bill which provides that all
agricultural land shall be temporarily
controlled and worked by committees
of farmers in the interest Of the state
until the agrarian question has been
settled by the Constituent Assembly.
To this end committees of local farm
ers will fix the area of lands which are
to be cultivated by townships, societies
or private owners, while all other lands
will form reserve.
An article in the Cologne Gazette
describing a visit to the imperial yards
at Kiel. which are said, like the I'M
reral yards at Danzig and Wilhelms-
haven, TO be mainly but not entirely en-
gagged with repairing work, contains
the following passage on copper and
electricity:
Copper Is now used in large quantities in
all ships, although Of course. consumption
is restricted as much possible Espe-
cially for steam piping there is no substi-
tute for copper. and il is also needed for
all purposes where high resistance TO sea
water and salt air is necessary. Nothing
seems yet TO be known at kiel about
scarcity OF copper. and il our enemies think
that they can starve us out by cutting of
the red metal they will be just much
deceived in this as in the rest of their
starvation scheme. II is pleasant to see
how the long. thin copper tubes are formed.
snakelike BY skilful hands.
Over against the boiler shop is the cleo
trical shop, which becomes every day more
important with the increased use of cleo
trcity. We have already gone long way
in this. although We have not yet gone
quite so far as the Americans. who even
drive the screw shafts of large ships By
electric motors. As regards our subma-
rines. it is indeed much the same with US.
for our submarines already consist half of
electricity. The submarines are also con-
cerned with the accumulation shop, where
accumulators are repaired. Repair is not
always possible. for the demands made on
the accumulators in war are sometimes too
great.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-07-13
The Dollar in Foreign Exchange

Russian exchange was firmly main
tanned in a quiet market yesterday at
$3.50 cents for cable rubles. Francs
were a shade easier. Spanish pesetas
moved up a small fraction, to 2S.20
cents for cables.
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, 1917-07-13
New York

Ford Tractors in Ireland.-B. l.. ID.
Perry, European manager for Henry
Ford, who has just arrived in this
country, says that the Ford tractor
plant at Cork, Ireland, will be turning
out tractors by next spring. Plans are
in hand for an annual output or lo,OVV
tractors, which will be increased TO
$4,000. Owe have had good conces-
sons from the City of Cork" said Mr..
Perry, land we have made number
of guarantees. One is that we employ
1000 adult hands within two years of
laying foundations and give a min
imum wage OF % cents an hour. Labor
is cheap and plentiful in Ireland Mr..
Perry is an Englishmsn, member Of
the British War Ministry and is on
an agricultural mission TO the United
States.
Old Railroad Employe Retires.-
Alexander Millar, secretary for Iorty-
five years of the Union Pacific Rail-
road Company, has been retired on
pension, and is succeeded by Thomas
Price. formerly assistant secretary.
Charles 7. Bower succeeds Mr.. Price
as assistant secretary.
New Stock Exchange Members
Charles A. Burbank, Charles D. l..
Oelrichs and Schuyler A. Orvis have
been elected to membership on the
New York Stock Exchange.
The Stock Exchange seat of Walter
II. Mickens has been posted for trans
fer TO Hendrick Hudson. The price
named was $4,000, unchanged from
the previous sale.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-07-13

The above rates express the cost of
foreign money in terms of the Ameri-
can dollar. You buy an English pound
sterling at. say, $4.755s. The intrinsic
parity is S4.96ts per pound. Thus, you
say either that pounds are at dis
count or that dollars are at a pre-
MUM. which is owing 70 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, 1917-07-13
French Coal Production

The coal production of France is said
now to-amount TO about 100000 tons
month, against 100000 tons last
December, the increase being due to
the use of 1000 miners released from
military service.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-07-13

Cold Currents.-Th local Sub-Treas-
ury transferred 81 300 900 to San Fran
cisco yesterday for the account Of
japanese bankers, who are shipping
that amount of gold to Toxic.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-07-13
All Not Tranquil
In Rock Islands
Official Family
Nathan L. Amster Says Old
Interests Are Again
in Saddle

Nathan L. Amster, chairman OF the
executive committee of the chicago
Rock Island & Pacific Railway Com
pany. made the charge yesterday tha'
the road is again controlled by the IN
terests that were dominant before the
receivership.
Mr.. Amster arrived in the city AFTER
attending what would not be calico a
harmonious meeting held in chicago
Wednesday. at which James y. Wallace,
president of the Central Trust Com
panv of New York, was elected III
rector of the reorganized railroad
Opposes Mr.. Wallace
Mr.. Amster opposed the election Oh
Mr. Wallace. who has figured in many
Wall Street reorganizations, including
that of the international Mercantile
Marine Company. He stated MS
grounds for this opposition as follows
at is reported that Mr.. Wallace anu
some of his associated purchased DE-
tween 10000 and 100000 shares of the
old Rock Island stock in the open mar
some of his associates purchased pc
Patten. C. G. Dawes and FREDERICK W.
eco,t These three men are already
on the board OF directors. con'ehu
that even if these four men hold lVo'-
600 shares Of stock, they are entitleu
10 only one director.
81 want it understood that THIS IS ho
personal matter, and that l have no
affection personally to Mr.. Wallace
But the principle of the matter is all
wrong. 1t appears to me that the ola
interests in the Rock Island are all
hack in the saddle, having merely
stepped out while those who worked
for the road when the outlook was so
gloomy raised the money for the re-
organization
SUSPECTS "Iuvisible Power
Friends of Mr.. Wallace stated yes
terday that he did not seek election TO
the Rock Island board and that he &C
cepted only upon the urgent solicita-
ton of other directors and large stock
holding interests.
At the meeting in Chicago seven or
the thirteen directors were present, in
Guiding ]. G.. Shedd, E. J. Boisot, James
A. Patten, B. c. Dawes and j. Z. Cor
man. all of Chicago; Nathaniel French,
of Davenport, Iowa, and Mr.. Amster.
According to the information re-
ceived here of the proceedings of the
meeting, Mr.. Boisot, who is president
of the First Trust and Savings Bank,
at first protested against the election
of Mr. Wallace. but later voted for him.
The principal objector was Mr.. Amster.
Of the seven men present, six voted
for Mr.. Wallace. not only as director
but as a member of the finance COM
mittee, of which he was made the
chairman.
Mr.. Amster charged that some din
visible power sought the resignation
of the Rock Island directors who were
placed on the board during the progress
of the reorganization. These directors
were Seward Prosser, president of the
Bankers Trust Company; S. Davies
Warfield, of Baltimore; +. II. Hubert.
Of Chicago; James s. Alexander, presi-
dent of the National Bank of Com
merce, and william Il. Thompson. who
is a director Of the Federal Reserve
Pank of New York.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-07-13
Bank Appointments

Edward de Lima has been appointed
assistant manager of the foreign de-
partment of the Guaranty Trust Com
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-07-13
Silver Now at Top
Price in Is Years
Heavy Purchases by Ameri-
can Bankers in Canada
Are Reported

The continued heavy demand for sil-
yer advanced the price yesterday to
SOit cents an ounce, the highest in
twenty-five years. Both foreign and
domestic demands for the metal are
held responsible for the rise, with the
explanation to-day that government
preparations to ship silver 20 France in
large quantities TO pay off American
troops have tended further 10 lift the
market
Toronto, Ontario, July High as
they are for the time being, market
quotations for bar silver are out Of
line with many actual transactions.
The reason for this is that purchases
Of the metal have been necessary q
cover specific transactions. and buyers
have found the market cleaned up.
American bankers have purchased
from the Mining Corporation Of Can
ada here 100000 ounces of silver at
So 9-l6 cents. This is the highest
price that silver has touched in recent
history AMI is 5-16 cents higher than
the sensational advance of May. 1916.
The exploitation Of the present demand
is that much Of the silver now being
exported is going direct through Pa
cifc ports to the Far East, where an
extraordinary demand for the metal
exists.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-07-13

London Money Market.-London, July
12.-Money and discount rates were
quiet, and Treasury bills were well alb
sorbed. Money, 3i2@4 per cent. Dis
count rates for short bills, Az per
cent; three months, 1916 per cent.
Gold premiums at Lisbon, So.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-07-13
Money and Credit

Call money rates jumped to Az per
cent yesterday, but not until after the
bulk of the days loans had been nego-
tiated. The closing rate was per
cent. A number of banks called loans
when the government withdrew ap-
proximately $5O,OOO,OOO of the proceeds
of the Liberty Loan, which it has been
carrying on deposit with local insti-
tutlons.
In the market for time loans based
on Stock Exchange collateral rates con-
tinued easy, ranging from to az per
cent, depending upon the maturity.
The amount of money put out on time
was comparatively small.
Ruling rates of money yesterday,
compared with year ago. were as fol-
lows:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-07-13

Below is given the current exchange
value of foreign money in dollars and
cents. together with the intrinsic gold
parity, as calculated by the United
States Mint:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-07-13
Thursday, July ~, 1917

Wall Street drank in the full
meaning of that part of the Presi-
dents statement concerning prices
which said: 1--WE must make the
prices to the public the same as
the prices to the government" 1t
has been certain for some time
past that producers of steel and
copper would have to be content with
relatively small profits on govern
ment orders, and traders had become
reconcied to the idea, but the posi-
bility that the price fixing pro-
gramme would be extended to cover
the entire output in the basic indus
tries had not been regarded very Sc
riously. Therefore, while there was
10 disposition to criticise the state
ment, it came as an unpleasant sur
prise to those who had thought that
producers would be able to make up
any curtailment of profits resulting
from sales to the government at low
prices by marking up prices on other
consumers. Nevertheless, traders
generally received the news with
comparative equanimity, and while
there was a sharp break in prices at
the opening it was quickly followed
by a recovery, and thereafter the
market showed no pronounced trend
in either direction. Most of the steel
and copper issues closed with unim-
portant losses on the days dealings,
and some irregularity was displayed
in other groups, but net gains were
recorded by a majority of the more
active stocks.
While the steel makers and pro-
ducers of other basic materials UNI
doubtedly would suffer a radical
downward revision Of profits, as well
as prices, if the Presidents views
were put into actual operation, a
good many industries might benefit
thereby. Equipment companies, for
instance, are hampered by the fancy
prices which they have to pay for
steel, and it may be that if the price
of the raw material were lowered
they would find a way to speed up
output. While they have been run
ming at or close to capacity for
considerable period, they could have
booked more business if high prices
had not caused the railroads to with
hold orders which otherwise would
have been placed. The same thing is
true of other lines of industry which
have been hampered by the high cost
Of raw materials.
New York City sold its S55,000,OOO
of Az per cent bonds on favorable
basis when one considers the kind of
market the issue was hoated IN.
For weeks the municipal bond mar
ket. as we'll as the rest of the in
vestment market, has been stagnant
and backward. Numerous munich
palities have failed to sell their
bonds, and there has been more or
less apathy shown toward municipal
issues generally owing to the posi-
bility that the government might
make this class of bonds taxable.
Now the city comes along and sells
the issue at a price that makes the
cost Of raising the money around 4.45
per cent. This is high compared with
ether years, but the fact that the
bonds brought a premium is consid-
cred gratifying.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-07-13

Silver.-Bars in London, 4024d; New
York. SOH cents; Mexican dollars, SO
cents.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-07-13

German Bank Statement.-Berlin via
London, July 12.-The statement OF
the Imperial Bank Of Germany, issued
July :, shows the following changes in
N, q rke.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-07-13

COMMERCIAL Faper.-Ihls market
continued TO display ease yesterday
and six months maturities were quot
ed Ut Az TO 4A per cent. Most of the
offerings changed hands, however, on
a per cent basis.
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, 1917-07-13
Finance Economics

Sub-Treasury.-New York banks lost
to the Sub-Treasury s41O,453.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-07-13
Corporation Returns

Rio Grande Southern
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-07-13
Bank of England.-London, July ~

The proportion of the banks reserve
10 liability this week is 19 per cent;
last week it was 1915 per cent. The
rate of discount was unchanged at 5
per cent.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-07-13

Gold in hand. increase .. 2,617,00o
Silver in hand. decrease 100000
Notes in circulation. increase 84,430,000
Treasury deposits increase. 27,332,0 900
General deposits. decrease. sc, 5O5.O0
Bills discounted. decrease 1863, 260,0 900
Advances. increase. 20.801 900
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-07-13
Benjamin Franklin ..u,
"MAay a hfik maker nn,Ln


4 \ cheSking account Is IN IN
portan, aid in promoting tl,ia
1t encourages businesslik. m.,bo..
in regulating personal expendi,u,,,
and furnishes definite record =.
business transactions, while h. -,
celled checks serve as III. NJ.
receipts for payments.
We believe in encourasip, Il.
small account TO grow and W,
come accounts Of $500. o. nor.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-07-13

BarA of Fralce-Paris, July 12.-
The wc,kly statement of the Bank of
France shows the following changes in
francs:
Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1917-03-09
SYSTEM OF FIXING
AND DISTRIBUTING
TIME INTERESTING

Distribution of "Hme" ia the United
States So an interesting story
The time used fn all the affairs Of
civil life I'D practically every civilized
country IFS what lis known as mean
solar time as distinguished from true
solar time recorded hy sun diaIs. The
mean solar day begins Fl midnight
Prior to 1888 there existed through
out the United States q great variety
of time derived from various
sources and used IN she conduct of
public and private affairs. The re-
suit was confusion and Inconvenience.
On Nov. Is. 1888. by the joint action
of the railway companies ana the
people OF the several communities.
seconded by the support 81 & number
of the departments of the United
States government acting indepeu6-
entity. a uniform standard time sys-
tenn was adopted. The country was
divided into time zones known as
eastern, central mountain and Pacific
respectively, governed by the mean
time Of the 10th, 90th 105th and 124th
degrees west or Greenwich
The time at all places lD any zone
is the same, and the difference in time.
Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1917-03-09
Drop Primary Plan.
ONE OF NOTED DIXON
SONS TO SPEAK HERE

The next number on the Augustana
lyceum course takes place tomorrow
evening when patrons Of the course
viii have an opportunity of hearing
Frank Dixon Of Brooklyn, N. Y
He will deliver his celebrated lee
ture. The Social Survey. or Taking
Stock BE- q Town" This is a searching
Investigation into all the local condi-
tiOus-physica1 Industrial CONNER
ctai, sanitary, educational. recreation
al religious, g0yernmental-aff affecting
the welfare of the people in any com
munity. TO the end that municipal de
veIopment may be along lines Of
beauty. health, intelligence, economy
and efficiency of administration
Mr.. Dixon is one Of the famous sons
Of Rev Thomas Dixon OF North Caro-
lima. Thomas Dixon. Jr. the author.
and Or. A. G. Dixon of the Sturgeon
church In London, are brothers of the
lecturer. Mr.. Dixon is fitted by ma
ture with the temperament OF an ora
tor. He SIS possessed Of the Roman
sense of justice and the Greek preci-
Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1917-03-09

travelling west between any two ad-
jageut zone lis one hour earlier AT
~ o'clock eastern time. Il is II 2 IN.
central time. 10 "a. ia. mountain time
and 81. 10. Pacific time.
The meridian passing through
Greenwich. England which was
adopted as the prime meridian" at an
international meridian conference
held al Washington in October 1884.
's the meridian from which ali call
euiatjcns Of time are made both ON
land ana on the high seas All over
the world. I'm p few section of the
country mean local time" is used fu
addition 80 standard time but this
practice is gradually being abandoned.
Ar the United States naval obser-
vatories at Washington. u. c.. and
Mare Island. CAL government experts
daily determine by astronomical OBJ
scrvatOus the correct solar time. The
results Of these observations abe he
corded by means of a chr0uograph
from which the transmitting clocks
are regulated
The transmitting clocks are reg
Utated very accurately and are sell
dom in error 10 O greater amount
than one-teuth or two-tenths of q sec
ond These transmitting clocks are
connected BIZ wire with the Western
Union Telegraph compauy's operating
departments In Washington and San
Francisco and every day in Ths year
except Sundays and general holidays.
beginning at l1-55 a. III. and ending
at exactly IL noon at the 18TH and
lZ9fh meTidians. the time shown by
the naval observatory transmitting
clocks is transmitted in seconds,
beats are picked up and automatically
transmitted over the compauy's teIe-
graph system throughout the length
ana breadth of the United States
This is the standard time Of the
United States 1t furnishes the basis
for practically the whole Industrial
commercial and social life Of the
country. The enormous value of the
plant set apart for the transmission
ot these time signals can only be
imagined.
The telegraph compauy's time ser
vice business consists in furnishing
self winding synChroufzed clocks The
clocks are connected by wire to spec-
ia} time circuits, These circuits are
Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1917-03-09
NEXT TUESDAYS
DAY TO REGISTER
Those who Expect 70 Participate in the
Annual Township Election Should
List Names.
GIN SHOE CAMPAIGN is on
Assistant Supervisors, Justices Of
Peace and C0nstables Are To Be
Named on April 3.

Although the annual township cleo
tion is less than s. month away, very
little interest has been manifested in
it, Candidates for Office seem to be
playing the watchful waiting game and
those who are seeking political prefer
ment are conducting gum shoe cam
paiFns
The election is april 3, and two reg
istTatt0u days are provided, next Tues
day being the first and March = the
second. Those who expect TO partici-
pate in the voting must have their
names listed. especially where the
voter has moved from one precinct TO
another.
IN Rock island township five assist
an supervisors, five justices of the
peace ind five c0nstabIes are to be
named. the terms Of TIA following ex-
piring:
Assistant supervisors 49, Fred w.
Young, r: George Stroeh]e, r; Wal
lace SoUders Il, M. O. GriswoJd r
H. e Cook, Jr-. d.
Justices of peace-J. ". Naucker. .;
Carl Kuehl, d; S. z Van NO0rdeu. r:
c. j. Schroeder. r; T.. a POLAND. r.
Constables-D. J. CIeIand. r: sam
uel Fitzpatrick, D Thomas Mclean,
r, Henry 3. Carpenter. r. Pete
Loge, r
Drop Primary Plan
It is expected that the democratic
and republican parties will select their
candidates either by delegate or mass
conventions It has usually been the
custom of the G. o. r. TO conduct
voluntary primary but owing to the
heavy expense the plan was dropped
last year and If is understood that it
viii be again this spring.
Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1917-03-09

sion of speech. He speaks as one who
knows the truth and has no fear OF
man He possesses the faculty, so
rarely found among public men, OF dis
cussing a weiEhty theme before q pop
U]ar audience in 81 manner so lucid
and captivating and yet 50 original
and convincing that there is not q mo-
ment Of heaviness, no consciousness
OF the flight of time Great audiences
IN every section OF America have heard
him with unbounded enthusiasm. Some
years ago Mr.. Dixon appeared st Al
EustaGa college and created a most
favorable impression.
Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1917-03-09

Acids accommodating IN the system in
excess, poison the blood and cause a
great variety of diseases, affecting the
skin and other mucous surfaces, the
heart and arteries, brain and general
nervous system, joints and muscles.
Some Of these diseases are Rheuma-
tism in its many forms, Cztarrh
Eczema, Hives, itching and burning
Of the skin, dizziness, mental depres-
sicn and variety Of other ailments.
You must eliminate the acid from
your system and purify your blood
Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1917-03-09

before you can be rid of your trouble.
5. S. S. has been purifying and nour-
ishing The blood for over half a cen
fury. It is also a very efficient tonic
and being purely vegetable, It is the
most efficient agent known tn the
cleansing of the blood aud toning up
Of the system.
Call for il at your druggists and
don't accept q substitute II special
medical advice is desired write Med
icai Department 60, Swift Specific Co,
Atlanta Ga.
Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1917-03-09

The 66 new war vessels. for which
bids fer construction have been taken
by the United States. viii require the
use of almost 1900 gross tons of
steel