davidaulloa/AmericanStories huggingface dataset:
The Washington herald., 1917-08-13
MICHAELIS' DAYS
ARE NUMBERED
Won Wiegand Forecasts the
Early Downfall of New
German Chancellor.
BY KARL II. Won wIEGAND.

clAu NpTTssponQent OF the i. y. =.
CThe last American correspondent
TO leave Germany and who has just
arrived in New York from Scandi-
navian countries.)
tCopyught 1917 by the International
News serrice).
New York, Aug. 12.-The term Of
DR.. George Michaelis. new imperial
chancellor of Germany, promises to
be short. He will not last AS a
concession" and compromise, the
chancellor given by the old govern
ment to the Liberal elements has all
the political qualifications OF failure.
With many excellent personal quail
ties he has never been anything but
an administrative ofsciaL though a
very able one, and he is largely an
''official."
short Career Predicted.
The Socialists, Liberals and Demo-
Gratis look upon him merely as an in
terim" or an "interlude" to the new
era coming in Germany unless he &C
cepts their programs. II he lasts as
many months at Bethmann- -HoIlweg
did years, namely eight. MicaheIis
may be fortunate in the present tenn
per Of the German people.
The Reichstag hold the financial
strings OF the empire. When the
Kaiser, personally much attached TO
the former chancellor. was reluctant
to let Bethmann-Hollweg go. the
Reichstag, after the first reading.
simply held up the new budget Of
fifteen billion marks. The Kaiser tried
to pry it loose by his decree ordering
Bethmann-Hollweg to put through the
electoral reform granting Prussia uni
versal male suffrage and the equal,
direct and secret ballot.
Reiehstag Wins Victory.
In February or March that would
have suficed. In July it did not. The
Reichstag had no confidence in Beth
mann-Hollweg's personal determine
ton. The Reichstag had a death
grip on the purse strings of the en-
pire and refused to loosen up until
the Kaiser let Bethmann- -Hollweg
walk the political plank. And the
Kaiser surrendered to the Reichstag
Michaelis. a "commoner." but not a
political leader. was named. He, too.
Is opposed TO parliamentarian govern
nent in Germany. In this the rulers
and state governments OF the twenty
six states, which make up the German
confederation. are with him, but the
rnpidly growing democratic elements,
insisting OF The Socialists. Liberals
and progressive. usually called radi-
Gals here. demand a parliamentary
system Of government and ministers
responsible to the Reichstag.
Michaelis proposes TO try what he
calls 'parliamentisation." He means
drawing upon the political parties to
furnish material for ministerial posts
and cabinet places, who. being select
ed by the parties, would indirectly be
responsible to them.
Only one party, and only one part
Of that, has so far accepted that pro-
gram. All the other parties so far
have refused to go in on Michaelis'
Program.
The Washington herald., 1917-08-13
To ControI wheat Priee.

The regulations will 20 into effect
September /.
Mr.. Hoover believes that by rigid
application OF the regulations the
price Of wheat can be stabilized
throughout the year. And IL is hoped
that the hazards Of operation due
to fluctuating prices which are i'm
posed upon the milling and dis
tributing communities will be elirnf-
mated and that business will return
TO normal lines and normal margin
OF pront. With the price Of wheat
stabilized. IL is believed the price
Of flour will conform and thus a
stabilized price Of bread will be
obtained.
In announcing his plans. Mr..
Hoover says the disturbance to the
world s commerce and short sup
plies has caused a greater disrup-
tion Of the normal markets for
wheat than any other cereal. As a
result OF the isolation OF certain OF
the worlds wheat producing coun-
tries, by either belligerent lines or
short shipping, he says. the normal
determination OF the price OF wheat
by the ebb and flow Of commerce
is totally destroyed.
One Buyer Selected.
In order 10 control speculation
and 10 secure more equitable dis
trIbution Of the available wheat ard
flour between their countries" he
declares, the allied governments
have placed the whole purchase Of
their supplies in the hands oS one
buyer. Also the European neutrs's
are now buying their wheat through
single government agents instead OF
in the normal course OF commerce.
Therefore, the export price OF wheat
and flour, and thus the real price,
II not controlled, VIII he subj.c 10
almost a single will OF the foreign
purchaser.
In normal times. American wheat
moves largely TO Europe in the fau
months. This wear. the shortage OF
shipplng necessitates its distribution
over the entire year. Therefore.
there is danger OF q giut in our ware
CONTINUED ON PAGE TWO.
The Washington herald., 1917-08-13
U-BOAT War
TOBEPUSHED
Allied Conference to Dis
cuss Policy OF Campaign
Against Germans.

A conference of the allied govern
ments regarding a more aggressive
naval policy against Germany and her
U-boats is to be held soon, it was
learned yesterday.
This news. coupled with the impor-
tant announcement, made in London
by the japanese naval attache, that
additional japanese naval units had
Joined the allied naval forces In Eu-
ropean waters, form the outstanding
! developments in the war situation.
The first announcement that Jap
anese war ships had arrived in Eu-
ropean waters to aid the allied naval
forces, was made simultaneously with
that Of the arrival of United States
fleet, under the command OF Rear
Admiral w. S. Sims. That Japan has
been asked to send additional forces,
and has done so, is regarded here
as foreshadowing more drastic pol
icy of aggression against U-boats or
a renewal OF naval activity against
Germany in some other respect
Look to Cooperation.
The announcement is regarded here
rs one of the highest Importance. The
forthcoming war councils of the allied
nations are expected to lead TO closer
cooperation on all fronts, in addition
to formulating a more aggressive na-
val policy.
The United States government will
not be a participant in these councils,
according to statements made here.
but it will be kept fully informed of
all that takes place in the councils
and of all policies or attacking ar
rangements which may be made.
That a restatement of the allied war
aims be made as a result of Great
BritGin's promise to Russia in re-
sponse to the latter's declaration con-
cerning peace IS believed certain. The
allied conference, held in London.
which has just adjourned, is believed
to have carefully considered that mat
ter. That the conference had to do
with matters of major importance is
inferred from the fact that it follow
ed so closely on the heels of the con-
ference in Paris.
DiscuAs ItsIy's View.
A cabled report from London that
Baron Sonnino. the Italian foreign
minister, was present at the London
conference and expressed his views
regarding Italy's aims in the war
and in the various war questions
discussed at the conference lends
weight to this belief
The report states that Baron Son
nonino won the Endorsement of his
views by the English and other
allied representatives at the con-
ference.
The Balkan questions were finally
disposed Of at the Paris and London
conferences, so far as the entente
nations will have the disposal of
them following the defeat of the
central empires-at least such an
intimation is read in a dispatch re-
ceiyed from Rome, which states that
Baron Sonnino had returned to
general headquarters and expressed
to King Victor Emanuel his salts
faction at the results accomplished
in the Paris and London war coun-
ellis.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-02-01
RUSSIAN GOVERNMENT
SUES TENNESSEE COPPER
Action to Recover 81, 14O, 600
Advanced on Chemical Contract

Suit has been brought by the Rus
sian government against the Tennessee
Copper and Chemical Corporation and
its surety, the National Surety Com
many. to recover an advance payment
amounting to s1,140,000 on large
amount Of trinitrotoluol which was to
be used in the manufacture of explosive
shells. The transaction. out of which
the litigation arises dates back to 1918,
when the principal defendant, then
known as the Tennessee Copper Com
pany, entered into a contract with rep
resentatives Of Russia for large guam
tty Of the chemical. A substantial
coyery is now sought had been expend-
ed in the construction of plant and
for the purchase Of materials and sup
plies. In March, 1916, fire occurred
which destroyed the newly constructed
plant, thus preventing the company
from fulfilling the contract.
William J. Griffin, first vice-president
Of the National Surety Company, issued
a statement yesterday in which he said:
at is claimed by the Tennessee Cop
per Company that it has no liability TO
the Russian government. and naturally
if it can sustain that position there
can be no liability against its surety.
In any event, there is no likelihood OF
loss, for through the recent reorgan-
ization Of the Tennessee Copper Com
pany, its treasury was strengthened
with much larger sum than is neces-
sary TO dispose Of the claim of the Rus
sian government, and the company is
said TO be now in very strong fnan-
cial position.
The surety company is protected by
the assets referred to and by heavy re-
insurance in strong domestic COM
panies, which have been kept in COM
plete touch at all times with the situa-
tion between the Russian government
and the Tennessee Copper Company"
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-02-01

dend OF Sill per share on the per cen,
preferred sto,k for the period from Deeen-
Der %. 1916. TO February -, 1919.
Eastern Steel Initial quarterly dividend
of 2i per cent on its common stock, PAYABLE
April 10 TO stock Of record April :, and reyv-
lar quarterly dividends of =, per cent on
the first and second pr-fcrred stocks. psysbls
March 10 20 stock Of record March !.
Mobile Electric Regular quarterly did
dcnd of T., per cent on II. preferred stcss
nayable February 10 10 sto,H OF record jar.
uary 81.
Deere Go. Regular quarterly dividend q
a., per cen, on the preferred stock. payatA
March TO stock II record February Is.
Riordan Pulp & Paper. REGULAR qusrterh
dividend Of u per cent on the common stoe,
and per cent extra. payable February Is.
National Grocer. Extra dividend Of 5 pe
cent on the common stock. payable Februap
u 10 stock of record February TO-
jefferson and Clesrfeld Coal and Irsn.-
Regular sem-annual dividend Of ~ pr
cent on the preferred stock. payable February
IL TO stock OF record February ?.
Buffalo. Rochester & Pittsburgh RsiIvy
Scmi-annual dividends OF 3 share on The
common and preferr,< stocks. PAYABLE feeru.
airy Is TO stock OF record February /?
Union American Cigar. Regular quarterly
dividend Of la per cent on the iull sitfe'
Of preferred stock. due February u. and
quarterly dividend that was passed in August,
1916. both payable February 10.
Hamilton Manufacturing Dividend of
per cent payable February ~ 10 stock n
record February !.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-02-01
SEEKING
A THIRD WAR
LOAN IN JAPAN
Toxic Bankers This Time
Are Asked to Advance
S100,OOO,OOO

Cable advices from Toxic state that
Russia is trying to float new loan OF
about 100000, 900 gold in the Japanese
market. She is reported to have given
a definite intimation Of the loan through
the japanese government. Toxic bank
ers are considering the matter now, but
as yet have not reached decision.
IL acted upon favorably this will
make the third Russian loan since the
war broke out, without counting the
one for s7,750,0OO, which was for the
price Of the two warships sold by
Japan to Russia. The first was for
s25, 900 900 and the second for $50 ,000,-
600, both Of which were foatcd last
year.
Besides these loans to Russia, two
credits of 100000 each have been
extended to Great Britain by the Japa-
nese. The first OF these was arranged
last July and was based on gold de-
posts in this country for the account
of the japanese government. The sec
ond, negotiated last December, was
drawn against commercial balances on
deposit here in favor Of japanese mer-
chants. In both instances British
treasury bills were accepted by the
japanese as security for the loan.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-02-01

but their takings were not negligi-
bic. Now India he; stopped buying
altogether, and attempts are being
made to resell the stock already held
in the warehouses. Imports during
the fiscal year 1876 were only
5,779 tons, against 25,502 tons in the
fiscal year 19l4-'15. The SURPRISES
are now being taken by the British
government at lower prices than
those which prevail for the metal in
New York. If prices do not go down
the probability is that the demand
for copper from the Eastern coun-
tries will be reduced to a minimum
or attempts will be made to work the
copper resources in these countries.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-02-01
ARGENTINE BANK
MAY OPEN A
BRANCH HERE
Ambassador NaOn Said to
Favor Move for Broader
Exchange Market

That the Bank Of the Nation, the lead
inc financial institution Of Argentina
and the largest bank in South America,
is considering opening a branch in New
York City became known yesterday.
Steps toward this end are being taken
by Romulo S. Naon, the Argentine Am
bassador to the United States, who be
lieves that a branch of the national
bank of the South American republic
will facilitate closer trade relations be-
tween the two countries.
In the past the Bank of the Nation has
been represented in New York by local
banks. which have acted as agents. 1t
is expected that should branch be
opened here a much broader market
for exchange on Argentina Will be
maintained.
An effort is now being made to have
the Argentine Legislature pass the
legislation necessary to the opening of
a branch here. Bankers said yesterday
that the opening of a New York
branch Of the Bank of the Nation
might result ultimately in the estab-
lishment here of a gold conversion
fund against the Argentine paper cur
rency, such as is held in London.
The Bank of the Nation in a recent
report showed capital of S56,320,OOO.
Deposits of the bank totalled S32O,3O6.-
III and loans s176,269,3 1863. The bank
carried cash in hand amounting to
Sf9l .635,S7S.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-02-01
FORD MOTOR SURPLUS
IS STILL PILINC UP

Boston, Jan. 81. The Ford Motor
Corporation has filed balance sheet
as Of January IS with the State Com.
missioner of Corporations. which show:
a surplus of sl2O,O00.356. compared
with sll1,96O,907 on July 81, 1915, and
s59, l35,771 on July 81, 1915.
Tie company reported real estate as
an asset worth s26,739,26l, machinery
at sl24i5,377; merchandise, 1921
G39: cash and accounts receivable, $751;
O64.7 Total assets were figured at
S137,5A7 ,03s.
Liabilities were reported as follows:
CAPITAL stock, s2,0OOOO0; accounts pay
able, sI5,546,6s2, and surplus, sl2o,-
0O0.356.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-02-01
BURNS BROS. PLANS
INCREASE IN CAPITAL
Retirement of Preferred Stock
Said To Be Contemplated

Directors of Burns Brothers, coal
dealers, are considering plan which
provides for the retirement Of the
100000 preferred stock Of the com
pany and the declaration Of a % per
cent stock dividend 20 present holders
OF the common. This presumably is
the explanation for the recent strength
in the common stock
The plan also provides for the au-
thorization of between Sll 100000 and
81. 600, 900 common stock. it is pro
posed that the present amount out
standing So 500. 000-in addition TO the
Is per cent stock distribution, be in
creased each year BY per cent until
the entire authorized capital has been
issued. II is also planned to increase
the regular cash dividend from . per
cent to per cent.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-02-01
WEALTH MARKETS AND COMMERCE 8lI

cedcd slightly in later trading. De-
mand was restricted to few issues
and sales were small. The close was
irregular. Allouez, IS; Copper Range,
So: Old Dominion. 63l2.
Rate Increases Suspended ashing-
ton. Jan. 3l.-Proposed increases IN all
classes of freight rates between points
in Texas and Oklahoma which for GER
tain mileages conform to rates estab-
lished by lines in Texas were suspended
until June, pending investigation.
The commission suspended the pro-
posed application of the new scale 10
certain points in Kansas, Arkansas and
Louisiana, finding that the proposed
rates in many instances are In excess
of the present interstate rates IN Texas.
A proposed general increase OF from
60 to 100 per cent in freight rates on
all classes of traffic between New Or
leans and Shreveport, La, also was sus-
pended.
All the proposed increases grew out
of the Shreveport rate case, which stun
is under consideration by the commits
sion.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-02-01

February Disbursements. 49, Dividend
and interest disbursements this month
will amount to s154,77s,9 s2, according
10 the compilation Of 1.-The Journal OF
Commerce. This compares with sl2s,-
262,516 in the corresponding month OF
1915. Dividend payments will total
S7s,02S,962 by POI corporations, an in
crease OF s15,2S6,464. while interest ag-
gregating s76,75O,Oo0 will be paid, an
increase over year ago of s11,25O.OOO.
New financing last month amounted 70
SAL .5s2 400, an increase of 1854 sos, 200
over year ago. Foreign government
loans placed in this market accounted
for s265, 600, 900 of the total.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-02-01
GLASS BILL IS AMENDED
Committee Reports Feature to House
Increasing Banking Boards Powers

Washington, Jan. 3l.--The Glass bill
TO amend the Federal Reserve law was
ordered favorably reported b. the
House Banking Committee to-day after
an amendment had been incorporated
empowering the Federal Reserve Board
not only to permit, as at present, but
TO require any Federal Reserve Bank to
foreign agencies and branches
within it's Reserve district or the dis
trict Of any suspended Reserve bank.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-02-01

The above rates express the cost O
foreign money in terms Of the Amcri
can dollar. You buy an English pounl
sterling for tl.75'i; the intrinsic par
ity is si.S69s per pound. Thus, you
say either that pounds are Mt dis.
count or that dollars are at pre-
MUM, which is owing 10 the fact that
in England the demand for dollars
with which % settle accounts IN thi,
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, 1917-02-01
New York

Canadian Pacific sends Official to
Russia.-An official explanation OF the
purpose of the trip to Russia OF VICE
President Bury Of the Canadian Pa
cifc Railroad was issued Yesterday.
Lord Shaughnessy, head Of the Cana
dian system. said the company IS hand
ling so much Russian freight VIA
Vladivostock that it was considered
best to have an important officer of
the road go over the situation first
hand in an effort to facilitate the
movement
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-02-01
The Dollar in Foreign Exchange

Italian exchange was again under
pressure in the local market yesterday
and established another new low record
for the war period. Lire checks at the
close were quoted at $50 to the dol
lar, against 7.25 on Tuesday and par
Of 5.1S1s. The rest of the exchange
market was quiet.
Closing rates yesterday, compared
with week ago, were as follows:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-02-01
Other Cities
rain Exports from PhiIadell

Philadelphia. Jan. 3l.-Grsin exports
from this port last year exceeded by
nearly 100000 bushels those of 1915.
according to statistics made public to-
day by the Commercial Exchange The
exports for 1916 were 49.35S,6s5 bush
els. as against i4,55s,673 bushels in
1915
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-02-01
Dividends

American Sumatrs Tobacco. - Regular
dividend of 80 per cent on the
preferred stock, payable March to stock oil
record February 10.
Iisaett & Myers Tobaoco.-Resular quar-
terIy dividend of per cent on the common
stock. payable March ! to stock OF record
February 10.
Superior Steel Corporstion.-Initial diH-
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-02-01

fore the war began recently stood at
$500. Another stock, with pre-war
market value o. $50, has risen 70 1913.
The shares of another shipping COM
many arc fortv-two times their value
in 1914.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-02-01
Relevant
Information
Kelly Springfield Tire.-The Kelly

Kelly Springfield Tire.-The Kelly
Springfield Tire Company reported yes
terday for the full year of 1916, show
ing gross profits Of S3,464,459, COM
pared with S2,SS0,080 in 1915 and 81
2O3. 761 in 1914. Net income of 49,
l17,314, compared with sl,706,7i4 in
1915. and was equal TO 3S.9 per cent on
Si.9O7 200 common stock after deduct
ing s215.598 dividends on the preferred
stock. as compared with 1857 per cent
on st.s43, 500 common in 1915. The
Kelly Springfield COMPANY is reor-
canization of the old Consolidated
Rubber Company and was formed in
1914. The company is paying dividends
on the common stock at the rate of Is
pcr cent a year. There is 1888 300 of
g per cent cumulative first preferred
outstanding.
Inland Steel.-Favorable action has
been taken By the stockholders of the
Inland Steel Company on the plan to
incorporate the company under the
CO pital stock Of $3O,OO0,oOO. OF the
capital s25,OOO,OOO is to be issued to
the stockholders Of the present COM
pany, each shareholder TO receive two
and a half shares Of the new stock OF
the company in exchange for one of the
old. The remainder of the stock is to
be held in the treasury.
Utah Copper. stock displayed
pronounced strength yesterday, rising
81 points 10 111h on dealings of So,
800 shares Next to United States
steel common IL was the most active
issue on the trading list. Buying
orders aggregating 10000 shares start
cd the upward movement in Utah. The
company reported yesterday the result
OF its December operations, showing a
production OF l3,976,533 pounds Of COP
rcr. compared with 16,42l,l92 in No
ycmber and 2O,325,52O in October. I'm
favorable weather conditions were
largely responsible for the sharp de-
cline in output.
Spanish shipowners have become rich
OIL account of the rise in freight pro
duccd by the war. Quotations Of ship
ming shares on the Bilbao Bourse afford
an idea of what has taken place since
bostilities began. For example, the
stock of one large Spanish shipping
concern which was quoted at 81 be
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-02-01

One Of the results Of the increase
in copper prices has been complete
stoppage Of the trade in copper in
the Far Eastern countries. These
countries were not large consumers,