davidaulloa/AmericanStories huggingface dataset:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-12-01

the division that was formed from the
crack regiments from many states, and
inasmuch as General Pershing had
approved of the dispatches the censor
saw no harm in permitting the definite
publication of the news.
The old seth Regiment. now the
l65th Infantry, is part of the Rain
bow Division, which was encamped for
weeks on the Hampstead Plains, Long
Island. Troops from twenty-seven
states make up the division. Thirty
three states are represented among the
National Guard troops now in France.
War Department officials were graft
fled at General Pershing's decision TO
announce the arrival OF the National
Guard forces. but permission to pub
lish the designations Of the guard
units now at the training centres in
France still is withheld. Unless Cen
eral Pershing sees fit to release the in
formation there is no present prospec.
of its publication.
Story OF the departure of the
Rainbow nien from Camp Mills IN
Drtobcr ts ,,olr told nm Pare 9
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-12-01
Lenine Falls;
Coalition Rule
ForPetrograd
Bolshevik Premier Gives
Way When Peasants
Refuse Support
[Staf COrrespOndencel


LONDON, Nov. 30.-Russia is land
of dramatic surprises. Coincidentally
with thu acceptance by Germany and
Austria Of Lenine's armistice proposal
the latter's government fell. 1t was
replaced by what is best described as
coalition government Of Socialists
of the radical wing, including mod
crate Bolsheviki.
Reports received here show the for
nation of the new government followed
hostile reception Lenine received in
the peasants conference. The peasants
derided reference to Ensign Krylen-
kos appointment as commander iI
chief, and defeated resolution to
send him vote of congratulation on
Germany's acceptance Of the armistice
proposal.
Then it developed the Bolsheviki
were not getting majority in the
balIoting for delegates to the Con-
stituent Assembly. Even in Petrograd
the Constitutional Democratic party up
to that time was slightly ahead of
them.
"Usurpers" Denounced
At a second meeting of the peas
ants conference, on Thursday, Tcher-
noff made a powerful oration. declar-
sl,N t.I -.
pie and not in "usurpers." At the con-
clusion of the meeting it was an
nounced negotiations had resulted in
coalition government being agreed on.
This government consists of Bolshe-
wiki. tne Left. Social Revolutionaries
and Menshevik minority Interna-
tionalists.
Lenine's Power Waning
An authority on Russian affairs with
whom | talked to-day does not inter-
pret this turn of events as an actual
defeat for Lenine, for his influence is
still felt in the present government;
but it is 4 sign his power is waning.
1t is a SIGN Re has carried events as
far personally as he was capable
through force of arms and disregard
ing the wishes of the people. and now
lie has decided to slip out through COM
promise. rather than risk being thrown
out, which my informant regarded as
inevitable if he continued in power.
Russia has moved one notch toward
moderation, but. of course. the coun-
try is still so far toward radicalism
that there is no hope of anything at
present except continuation Of the
present policy Of striving for immedi-
ate peace.
A few days ago it seemed the Boil
sheviki were gaining power and then II
was not q case of the country's wrath
rising against Lenine. but Of more and
more factions joining the Bolsheyikl
ranks.
To-day there was a move in the other
direction. Dukhonin. the real Russian
commander in chief. telegraphed to-day
announcing there is a growing feeling
against the Bolsheviki in all parts OF
the army. excepting the thoroughly
corrupted Fifth Army, and declaring
the majority OF the army would never
consen. TO an armlstlee.
Dukhonin added that II Krylenko
arrived anywhere within reach. he
would arrest him Immediately. As kry-
lenko has given orders for Dukhonin's
arrest. il would be extremely interest.
ing TO see what would happen should
the two meet.
Woshington's Uie,c of the delicate
situation in dealing NTH the Boil
sheuki, on Page ?.
-
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-12-01

Wholesale price Of sugar fred,
indicating 8 cents per pound 10
consumer. other netos Of food
situation on Page II.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-12-01

All MERCHANDISE ADVER
TJSED IN THE TRIBUNE
is GUARANTEED
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-03-15
Other Cities

Banking Power of New York State
Albany. March II. State Superlnten-
dent Of Banks Eugene Lamb Richards
in mis- annual report transmitted TO the
Legislature to-day on savings banks,
trust companies. safe deposit com
panies, etc, says that the resources Of
all the institutions under his super
vision on January ! last totalled So
926.543.625. an increase during the last
year of $505 ,ss5.67S. On July /. 1916.
the $50 institutions in this state, in
GLIDING the national banks, had total
resources of S9,ll6,184,0OO, or more
than 2S per cent of the total resources
Of institutions reporting in the United
States.
The capital. surplus and undivided
profits, computed on the market value
Of investments of the state banks. trust
companies and private bankers of New
York State on July /, 1916, totalled
s371.455.236. OF this amount Sl2I5s9.-
coo was capital and S243.S66.236 was
surplus and undivided profits. The
surplus. based on market value OF Sc
curities Of the savings banks in this
state on the same date. amounted 10
Sl6S.9S6 1926. making a grand total Of
capital. surplus and undivided profits
Of $40. 1852. or III per cent OF Sl,-
900, 1872, 1873 capital. surplus and undl-
vided profits Of all banking institu-
tons reporting in the United States.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-03-15
New York

Wants Liability Regulations Modi-
fied.-The New York Produce Exchange
has petitioned the Interstate Commerce
Commission for modification Of regula'
tions recently put into effect by the
trunk lines limiting their liability for
grain and -four awaiting delivery after
arrival at New York.
Tax Suit Decision. - The United
States Circuit Court of Appeals, IN
decision written by District Judge Au-
gustus y. Hand and concurred in by
Circuit Judges Coke and Ward, yester-
day reversed the judgment rendered in
the lower court in favor Of the Farm
ers' Loan and Trust Company, and
against Charles ". Anderson, former
Collector of Internal Revenue. The ac-
ton was brought 70 recover S4,SO9.31
paid under protest and levied IN ac-
cordance with the section of the war
revenue act, which provides that bank
ers shall pay for each $1,000 Of capital
used or employed. and that, IN esti-
mating capital surplus and undivided
Profits shall be included. Under the
law the tax must be computed on the
basis of the capital, surplus and un-
divided profits for preceding fiscal
year. The case has been remanded for
a new trial.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-03-15
Attacks Steel
Monopoly, but
Not Industry
Dissolution Suit Aims to Re-
store Healthful COMPETE
ton, Says Government

Washington. March 1.-THE future
Of the United States Steel Corporation
-permanence or dissolution now rests
with the Supreme Court. Arguments,
extending over four days in the Fed
eral antitrust suit, were concluded
to-day by Solicitor General Davis.
Definite general proposals for disln-
tegration of the corporation and its
subsidiaries were made in behalf of the
government. The Solicitor General
proposed, first, that the holding cor
poration be required to release its
hold on the constituent subsidiary cor
porations," and, second, that these sub
salaries "be so readjusted that there
will arise a sufficient number of inte-
grating competing units, none with
power to threaten monopoly in the
steel industry"
A decree squarely upon the issues
involved was asked by Mr. Davis. lie
vigorously opposed action which would
maintain the present status, with
opportunity for the government TO
proceed anew in prosecution If unfair
trade practices or other oppression of
competitors should develop. He said
such action would be analogous to
suspended sentence in a criminal pro-
ceeding.
Praise for some Of the corporations
conduct was given by Mr.. Davis, but,
citing its potential power, he said ruth
less warfare upon competitors had
marked the steel industry.
"A great deal of the corporations
conduct deserves cOmmendation,' he
said, citing the pension and employees
welfare systems established But that
does not blot out Of my memory the
S56OOO.OOO profits of the promoters.
How far the corporations conduct has
been induced by the menace of the
Sherman law only those in charge can
tell"
Referring to statements of the cor
poration's counsel that the present was
a time for mobilization, not disntegra-
ton, Of American industries, Mr.. Davis
said:
THAT entirely misstates this case.
This is not an attack on the steel in
dustry in any sense. Units will re-
main. This suit is aimed to restore
healthful competition in the steel in
dustry, under which it can best flourish.
If emergency arises the new units can
render their appropriate share of ser
vico -
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-03-15
New Italian Loan
Is Well Received
Many Applications Being Made
Through Local Institutions

Offering Of the italian government
internal loan . per cent bonds in this
market, announced a week ago, is meet
ing with considerable success, accord
ing to Felice Bava, local representative
Of the Credito Itaiano. He said yes
tarday that personally he had received
a large number Of subscriptions. The
Bank Of Naples, which Is also taking
subscriptions, reports gratifying re-
sponse." Most of the subscriptions are
coming in from prosperous Italians in
New York City.
Subscriptions are being received in
lire at the issue price OF 90 for the
bonds. At this price and at the current
New York rate of Italian exchange the
bonds are selling on the basis Of about
y cents TO the Ira. against a normal
rate Of 1913 cents. Principal and inter-
est Of the bonds are payable in italian
currency, so that the price Of the bonds
may be expected to huctuate on this
market with the fluctuations in the rete
of italian exchange.
Italian exchange was weak yesterday,
the lire rate dropping to 7.S4 TO the
dollar, against 7.76 the day before.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-03-15

Of late the complaint has been
made frequently that railway operat-
ing expenses are unduly high. 1t is
tue, Of course, that the railroads
cost of living is higher than in nor
nal times, but that is a UNIVERSAL
trouble. It is true also that the in
crease has been at an accelerated
pace in the last few months, owing
largely, perhaps, TO the unusual
handicaps with which the railroads
have had to contend. But the fact
remains that the increase in expenses
has not been so great as the increase
in revenues, and as a result the oper-
ating ratio-that is, the ratio Of
operating expenses to operating reve-
nues-is still well below the pre-war
level. In January, 1917, the ratio
for 167 large roads was III per
cent; that is slightly higher than the
ratio in the corresponding month
last year, but much below that of
January the three preceding years.
The operating ratio Of all Class |
roads for each month Of 1913, 1915
and 1916 compares as follows:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-03-15

In spite of apparent unwillingness
10 Weld on either side of the EIGHT
hour" controversy, the belief persists
that there will be no general railroad
strike. The consequences would be
too appalling. Either there will be a
compromise or, at worst, the rail-
roads, disregarding the merits of
their case, will give in. That, at
least, seems to be the consensus Of
opinion in the financial district.
In either event the operating ex-
penses of the railroads will be larger,
and the increase will come at time
when other costs are rising owing to
the high prices of materials and
extraordinary expenses caused by
traffic congestion. Even so, the bur
den which would be imposed on the
railroads, if they should yield TO the
demands of the brotherhoods, would
not be unbearable at present. III is
probable that the wage bill would be
increased about 100000 a month.
That sum is equivalent to no more
than one-eighth of the increase in
net operating income in recent
months, compared with the last year
of normal conditions, as will appear
from the following table:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-03-15
Big Foreign Loans
In Early Prospect
British Offering of $685. OO,'
900 Expected to Follow
French Issue

Another British loan, probably Tor
$3.50 900. 600 will be offered here short
" after the placing Of the new $780,
100000 French loan. The bankers IN
terested have not yet arranged the de-
tails. but 1t IS understood that they
have tentatively agreed that the new
issue shall be similar in character TO
the last United Kingdom loan in this
market. which consisted OF short term
notes. secured by American and other
neutral collateral. It is stated in well
Informed quarters that upward of
81 900 100000 of such collateral is on
deposit here.
Formal announcement of the French
loan will probably be made this week,
or early next. The bankers have de-
cided that it shall run for two years,
bear interest Of 5iz per cent, and that
the subscription price will be at fig
urc to yield approximately s per cent.
The bankers for the Allies believe that
they have injected features into the
loan that will make it particularly at
tractiyc to the American investor.
Among these are:
That the holders OF the notes will
have the option Of exchanging them
into twenty-year 81 per cent bonds
which will give to those who wish IT,
in lieu of cash, a security which would
profit by whatever appreciation might
occur in French credit during the life
OF the long term bond.
That the notes will be paid in dol
lars or in francs, at the rate of 5@t
francs to each dollar Thus it would
be TO the advantage Of the investor TO
accept payment in francs. in case the
rate of exchange should move in his
favor before the notes mature. Nor
mally about DIS francs are equivalent
to a dollar, but, owing to the deprecla
ton in French exchange as a result OF
the war, II now takes about 5.S5 francs
to make a dollar.
The offering will be secured by col
lateral consisting Of American securi-
ties and those of other neutral coun
tries. II is understood that the amount
Of Americans will be approximately
500, 100000. II will be direct obliga-
tion OF the issuing government.
II is expected that gold shipments by
way Of Ottawa TO J. =. Morgan g. Co.
will continue on heavy scale for some
time TO come. The imports so far this
year have been at the rate Of about
sl00.000.O00 month. and naturally
form the basis OF new extensions of
credit.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-03-15

In many quarters an early stiffen-
ing Of money rates is expected as inn
pending loans are noated. France
will bid for S1O0,0OO,000 in a few
days, a British loan Of $780, 900
viii probably follow shortly there
after, while the Federal and state
governments and Canadian munich
palities are also in, or about TO enter,
the market for funds. These opera
tons will absorb a considerable por-
ton Of the large volume Of surplus
funds. Also, seasonal demands must
be- reckoncd with. IL Is unlikely, how
ever, that money rates will advance
very far, in view Of the easy credit
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-03-15
The Dollar in Foreign Exchange

Offerings Of Italian bills from the
other side broke the rate TO a new
low record of 7.s4is lire TO the dollar
yesterday, compared with 7.7S the day
before and a normal rate Of SIS. Steps
have been taken toward establishing
new credits in London which should
soon reflect in a steader tone for lire.
German exchange was steady. The
impending S1OO,OOO,OO French loan was
without influence on francs, which we're
unchanged. Rubles were frmer.
Closing rates yesterday, compared
with a week ago, were as follows:
Weak
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-03-15
Oklahcma's Liquid Wealth

Oklahoma saw its greatest crude oil
year in 1916, when the total value of
the production amounted to $780,
500. No other crop of any kind has
ever yielded such a total within a
years time in that state. The total
production for 1916 was l06.190.24O
barrels. or 1I,72O.204 barrels less than
the 1915 production. which was III
9IO.A44 barrels. But in dollars and
cents the 1916 production was worth
more than that Of the previous year.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-03-15

The desire of lending institutions
tc keep their resources as liquid as
possible has resulted in a rather
keen demand for short dated loans.
That accounts for the heavy over
subscription of the s15,OOO,OOO note
issue offered by the City of New
York on Tuesday.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-03-15
Dividends

American Typefounders. hss ,hs prsi.T
Is dividend Of is. per cent Oh ~ .:oes,.
and per cent on the common I'D "
payable April II 20 stock ei -
10. also 2 per cent scrip diyiisn'' sc,ss,
Prairie oil s Gas. Rcsp iIs,Sds,ess ! :
dividend Of 90 and an extra a, ,ns.ord VI"
PAYABLE April 80 10 s'crA o. A..
81. ca,,efsiiss
Certain-Teed Products ee'ps IN sra
it,s1 dividend Of sl.l9 per share i. psyss.
ferred and second preferg1eSS , ,ts 4. -
April to stock Of record ns'' c.r esrs
dividends are az the rate o. -
annum. ..,,,,ns. -lW 81
New England Msnufsesnu 'n TOD.
Of 1874 per cent on s-oo.W. MA o "
bends Of 5l.2 per cent ~rie
cember. January and Feerus,yl.r qsr
standard oil Cloth. Resws q
dividends Of ia yer III ~
preferred A and r stceks sa ,s,,ss. ~
and / per cen. extra on the s COR "
April Z to stock Of record AA'
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-03-15

The above rates express the cost .
foreign money in terms Of the Amer.
can dollar. You buy an English pound
sterling for si.751s; the intrinsic par
ity il S4865s per pound. Thus. you
say either that pounds arc at a dis
count or that dollars are at Dre
MUM. which is owing 10 the fact tina
in England the demand for dollar
with which 20 settle accounts in thi-
country Is greater than the demand IN
this country for pounds wih which to
settle accounts in England.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-03-15
OPERATING RATIO

1t is not improbable, however, that
the ratio in February will be about
the same a. in the corresponding
months Of 1915 and 1913, and owing
TO special difficulties encountered
during the month it may be higher
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-03-15
"Wednesday, March II, 1917

The average price of group Of
first grade railroad stocks is now
about % points below the high level
of 1913; net operating income Of
Class | roads is running approx
mately GO per cent above 1913. These
figures would seem to afford ample
explanation of the comparative
strength Of the rails in the face of
the threat of a general railroad
strike.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-03-15
Good Credit Standing

It is noteworthy that the credit OF
not only the Dominion and provincial
Governments Of Canada, but that Of the
leading cities as well, is so high that
they can borrow money in New York at
lower rates than any Of the European
nations. Moreover, every such trans
fer Of debt from London to New York
assists Great Britain in its war tinanc'
inc on this side Of the Atlantic.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-03-15
Central Argentine Railway Note Of

Central Argentine Railway Mole Ut-
fering. Formal offering OF the Sl5,-
100000 Central Argentine Railway
ten-year convertible per cent notes,
recently purchased by local bankers,
was announced yesterday. The sub
scription price is 100 and interest.
The notes are convertible at the OPP
ton of the holder after January 81.
1918. into Central Argentine Railway
consolidated ordinary shares at par.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-03-15
". S. Treasury Finances

Washington. March 14.-Condition
q fnc United States Treasury az close
to-day showed: Net balance in general
fund. gs12s3217: total receipts Sl'-
sff.499: total payments, S3,S65'o3s.
The deficit this fiscal year - s1I5.-
30 926. against deficit of s5s,326'44O
last gear. exclusive Of Panama Canal
and public debt transactions.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-03-15
Marlin AIMS Purchase Approved.

Marlin Arms Purchase Approved -
Holders Of voting trust certificates
representing the common stock yester-
dav approved the purchase Of the
Standard Roller Bearing Company and
the patents and business Of the Rock
well Brake Corporation. Issuance Of
81 5000 in new per cent two-year
convertible notes was also approved.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-03-15
OPERATING INCOME

ESTIMATED from returns OF 16'
roads.
Unfortunately earnings cannot al
WAYS continue at the present extraor-
binary pace, and when the inevitable
decline in the volume of traffic does
come the increased wage bill might
prove very burdensome unless the
railroads should be granted another
rate increase.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-03-15
Toronto Plans to
Get S32,OOO,O0O
In This Market
Will Redeem Debentures
Outstanding in London
Through Loan Here
Nv G. ROY WEAVER

Toronto. March 1.-THE city oil
Toronto is planning to redeem 49,
100000 of its debentures maturing IN
London and TO issue new loan IN lieu
thereof in New York. This announce
ment was made to-day when the pup
lie hills committee Of the Ontario Leg
islature passed the clause in the city 5
hill authorizing Toronto to buy IN out
standing debentures and issue others
Details Of the plan have not yet been
decided except that the city VIII re-
door, q number of issues maturing IN
London at different dates up to ls4'
and then await a favorable opportunity
- issro a loan in New York. Ohclals
90 ,be Treasurer's Department admit
that they expect to save a considerable
amount by the transfer. Finance Com-
missioner Bradshaw has been WORKING
on the plan for some time.
Save by Transfer
Hon. Edward Brown, Provinc'a'
Treasurer of Manitoba, ia credited win
having evolved the scheme TO transfer
Canadian debts from England to inc
limited States. Two Of the "es'er"
nrovinces made money on such trans
fors and the city Of Winnipeg also
9vrccted large saving by similar
ovnodient. More recently Montreal ar
ronged loan in New York in order 70
redeem issues held in London.
A couple of weeks ago the Provincial
Treasurer Of Ontario announced tnat
tho imperial authorities had requested
the Ontario government to pay OF
Ioans held in London to the extent
of az 900 900 to provide dollar credits
for war purposes, the amount presum-
ablv TO be placed at the disposal Of the
1mnerial Munitions Board In Canada
This debt. which was incurred IN con-
nection with the construction OF the
Temiskaming & Northern Ontario
Railway. will be replaced by a loan 10
he issued in New York.
II is understood that no similar re-
quest has been received by the munic-
NAL authorities Of Toronto, but that
the move is intended primarily to effect
whatever saving may be possible IN the
transfer. How large this saving will
he is not known. but the exchange sit
nation makes the transaction decidedly
advantageous to the city. despite the
fact that the new issue in New YORK
will be at a considerably higher rate
than the loan in London, which 1t VIII
replace.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-03-15

At the annual meeting Of the Lacka-
wanna Steel Company. held at Buffalo.
the number of directors was reduced
from twenty-one to fifteen. Those
dropped from the list were r. +. Howe,
Hamilton F. Keane, Percy r. Pyne. H..
r. Taylor. +. F. Graham. u. J. Hancy
and ". J. Wilson. The following were
elected directors, with terms expiring
as Indicated: j. II. Hammond. 1918; H.
j. Dalton. 1919; George W Burlegh,
+. A. S. Clarke, Edwin 5. Marsten,
Ogden L. Mills and c. II. Mccullough,
jr. 1920.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-03-15

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: