davidaulloa/AmericanStories huggingface dataset:
Decorah-posten og ved arnen., 1917-07-24

Maa 0runo al anben TDrrets
nina. er Ell COB improved 32I geres
Narm tiIial9s bilist os paa lette Silfaar,
3 Wil fra altamont Gnel &c., g. Tafcta.
S,ans !. Gbrilteuien, Altampnt, 9. Sot.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-09-12
Rand Gold observation-disclosures,
Corporation Returns
Dividends
Rio Grande Soatkern

New York Central Regular quarterly
dividend of IA per cert, payable November l
TO stockholders OF record October s.
Cleveland, Cincinnati, Chicago & St. Louis
Regular quarterly dividend of Il. per cent,
payable October ~ TO stockholders of record
September IS.
New York < Harlem Regular semi-sn-
nuql dividend Of per cent on both common
and preferred stock. payable October l to
stockholders Of record September 81.
Western Union Telegraph. Regular quar-
terly dividend Of li2 per cent, payable Octo-
Der Is to stockholders of record September 20.
Pittsburgh Plate Glass.--R Regular quarterly
dividends Of ia per cent on the common
and preferred stock. payable October TO
stockholders of record September 10.
National Licorice.-Regular quarterly diyi-
dend of Il per cent On the preferred stock
payable September % to stockholders of rec
ord September "A.
Northeastern Yeast Regular quarterly
dividend of per cent and the usual extra
quarterly of per cent, payable September
10 to stockholders of record September l..
Texas Company.--Re Regular quarterly divi-
dend Of 2i2 per cent, payable September 30
TO stockholders Of record September 81.
Imperial Tobacco of Canada. l. Regular
semi-annual dividend Of 3 per cent on the
preferred stock payable September %, and
an interim dividend OF / p per cent on ordi-
nary stock, payable September y.
Island Greek Coal. Regular quarterly divi-
dend Of $3.50 on preferred ard a quarterly
dividend of $3.50 on common stock. both pay
able October | to stockholders OF record Sep
TENDER -.
Manhattan Shirt Regular quarterly divi-
dend OF sl.7J a share on the preferred stock.
payable October l TO stockholders of record
September 20.
American Public Utilities. Regular quar-
ter!y dividend OF IL per cent on the pre-
ferred stock, payable October J 10 stockhold-
ers Of record September 20.
United Fruit. Regular quarterly dividend
OF per cent. payable October ID to stock
holders Of record September 20.
Nipe Bay. Regular quarterly dividend Of
. per cent. payable October 10 TO stockhold-
ers OF record September %.
New York Title & Mortgage Regular
quarterly dividend Of L.. ocr cent, payable
October 1 TO stockholders OF record Septem-
Der Il.
Pond Creek Coal Quarterly dividend Of
so cents share, payable October | TO stock
holders of record September -.
Laurentide Company Regular quarterly
dividend OF 2ia per cent, payable October .
to stockholders Of record September 2l.
First National Bank Regular quarterly
dividend Of per cent, payable October l TO
stockholders Of record Geptemter %.
First Security Company.-Re Regular quarter
ly dividend of per cent, payable October
TO stockholders Of record September %.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-09-12
Relevant Facts
New York, New Haven & Hartford

New York, New Haven & Hartford
The final draft Of a circular recon-
mendng the issuance Of $45,O0O,000 of
per cent cumulative preferred stock
was submitted to the directors yester-
day and tentatively approved. It will
probably be sent to stockholders IN
about two weeks and will outline in de-
tail why the board thinks it wise to
raise new money by issuing stock
rather than bonds or notes.
Stock Of the company dropped to the
new low record OF 21s on the Stock
Exchange and closed at 22as, a net loss
for the day Of 21s. With this renewed
weakness reports became current in
Wall Street that the board would dis
cuss a possible receivership. 1t was
denied, however, that this matter was
mentioned at yesterdays meeting.
If the plan to issue stock is approved
at the annual meeting of stockholders
next month it will then be submitted to
the public service commissions of the
states in which the New Haven op-
crates. The Legislatures Of Connect
cut and Massachusetts, have already au
thorized this form of financing.
II is understood that the circular TO
be sent TO shareholders will contain a
comprehensive outline of the com
pany's financial position. 1t will in
form them, it was said, that the road
is not only earning all its fixed charges,
including the interest on the si5.00O,000
issue of notes falling due May ! next.
but also a surplus Of several million
dollars a year.
II is proposed TO pay of from the
proceeds of the new issue of stock the
notes maturing next May. Stockhold-
ers, il is said. will be told that in the
event of the failure Of the plan to 90
through no other way may be found
to pay off this obligation.
American Brake Shoe and Foundry.
Directors have declared an extra
dividend of per cent on the preferred
stock, payable September % to stock
holders OF record September 81. This
dividend is in addition 10 the regular
quarterly disbursement OF per cent
on the preferred and IL. per cent on
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-09-12
Southern Railway
Resumes Dividends
On Preferred Stock
First Payment Since October,
19l4-Large Gain in
Earnings

Directors of the Southern Railway
Company at meeting yesterday de-
clared a dividend of 2l5 per cent on
the preferred stock. As the entire
authorized issue of $6O.OOO,OOO Of this
stock is outstanding the distribution
will call for disbursement to share
holders of sl,5OO,OOO on November 20.
the date the dividend is payable. This
is the first payment on the preferred
stock Of the company since October
1914. when 2l2 per cent in cash and
. per cent in scrip were declared. The
scrip falls due in 1919.
Although 1t was not officially an
nounced that the cash dividend de-
clared yesterday was a semi-annuai
payment. it was assumed in Wall Street
that this was the case, as the preferred
stock is 5 per cent non-cumulatiye
issue.
The preliminary income account Of
the Southern Railway for the fiscal
wear ended June 30 last shows gross
earnings Of sSl ,SS8,325, gain OF Sill
300 $50 over the previous twelve
months. There was an increase OF
1889. 900 in operating expenses and
of s474,1S2 in other items to be de-
ducted. leaving an operating income Of
S3l2l.295. an increase of 1897 AS.
Other income brought the operating
net up 20 S27,452,74S. from which was
deducted $3.G47O3 for rentals and Sill
445.54S for interest charges. The final
surplus was Sl2.36O,161. an increase OF
s3.O26.2G2 over 1916.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-09-12
Tuesday, September II, 1917

Dollar silver is almost here, the
current price being only one and
three-eighths cents below that level.
Not only is it being predicted that
the metal will soar far beyond the
dollar mark, but it is frequently
said that the metal will remain at a
very high price for many years.
That is, of course, possibility, but
is far from being certainty. Sill
yer is selling at the present level for
the same reason that many other
commodities have risen to new high
records-the demand has outrun
the supply. The prediction that
there will be no great reaction in
the price for silver is based on the
assumption that present conditions
of demand and supply will continue.
This is a hazardous assumption,
however, for the reason that one Of
the prime factors in the equation is
Mexican production. When the
revolution paralyzed the mining in
dustry in that country Mexico was
producing about S5 per cent Of the
worlds output o. silver. Though re-
liable data are not available, it is es-
timated that for the last three years
she has not contributed more than
10 per cent, and perhaps as little as
10 per cent, to the aggregate pro-
duction of all countries. Obviously,
therefore, the restoration of normal
conditions in the troubled republic
would have a pronounced effect upon
supply, and, in turn, upon the price
for the metal. Whether or not the
demand will increase sufficiently to
absorb such an enormous increase in
output as Mexican mines would
show under normal conditions with
out a great slump in the price is a
question which time alone can an
swer. Those who base their belief
that this will be the case upon the
theory that a bimetallic standard
will be adopted in Europe after the
war are building on a very precari-
Gus foundation. The world has adj
vanced too far to go back to a
double standard, if that can possibly
be avoided. The next change in the
standard of exchange, if there is to
be q change, is more likely to take
the form of an abandonment Of
metallic standards.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-09-12

Russian rubles, normally worth a
fraction over 81 cents, had an ex-
change value in the days foreign
exchange market Of 1874 cents. This
was the lowest level yet reached.
Monday rubles were worth l52
cents. There seems no bottom to
the declining movement, which be-
gan shortly after the outbreak Of
the war, and has continued, with in
termittent rallies. The explanation
is that at present the ruble market
presents a situation in which every
one wants to sell and no one cares
to buy. Many influences are work
ing to bring about a further de-
preciation in the value of ruble eX-
change. The principal factor is, Of
course, the bad state Of Russian
finance and the initiation that has
taken place in that country as a re-
suit of the huge issues Of paper
money. On top Of this the ruble
market is being adversely affected
by the political and military up
heaval now taking place. A foreign
exchange banker calls attention to
the risk that now attaches to the
purchase of rubles. The difficulty
is there is no assurance that
cables will 90 through and it is ex-
tremely difficult to get confirmation
from the other side. Moreover, gov
eminent restrictions have aggra-
waited a bad situation. 1t is under
stood that some institutions in Wall
Street have refused to do business
in ruble exchange owing to the eX-
tremely unsatisfactory conditions
now prevailing.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-09-12
Britain to Promote
Trade with Belgium

The appointment Of a committee by
the British government to investigate
the means of promotion and advance
mcnt of trade between the British En-
pirc and Belgium is announced by the
London Press Bureau. On this COM
mittee there are three representatives
of the Foreign Office, three representa-
tives Of the Board Of Trade and six
members representing British CONNER
cial and financial interests. The mem
bers, other than those representing the
Foreign Office and the Board Of Trade.
have been nominated by the bodies that
they represent at the invitation of his
majesty's government. The body will
be known as the Belgian Trade COM
mittee.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-09-12

In Japan war prosperity does not
appear to carry with it as many
drawbacks as in other countries. In
writing of the conditions in that
country George H. Scidmore, Ameri-
can Consul General at Yokohama,
says: "The foreign trade Of Japan
has largely increased, new markets
abroad have been entered, new lines
of industry have been exploited,
work has been plentiful for its peo-
pie, wages have advanced, the cost
of living, owing to successive good
harvests, has not risen in the proper
ton general in other countries, and
it's growing reserve of specie has
enabled the country to become a
creditor, with a large surplus seek
ing further investments"
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-09-12

the common stock previously declared
and payable at the same time. Extra
dividends so far this year on the pre-.
ferred shares, including the present
declaration, amount to per cent. In
June directors declared an extra dlVi-
dend of Z per cent, Of which D per cent
was payable in Liberty bonds, l per
cent in cash and per cent as ked
Cross dividend.
Railway Steel Spring Company
Il was announced yesterday that the
company will retire its outstanding 49,
sue Of s2,904,OOO Of per cent bonds
on the Latrobe plant on January. J
next at l05 and interest. In the m
term the company will purchase any
of these bonds at that price. inc
bonds we're issued in 1906 to proYid'
funds for the purchase of the LatroDe
plant
General Motors.-This stock, next TO
United States Steel common, was the
most active issue traded in yesterday
The days turnover exceeded $4,000
shares. and the net result Of these OPP
erations was decline of 6s points.
the last sale being at 1919. Reports
were heard in brokerage Offices that
the company was trying TO negotiate q
bank loan of SS,O00,G00, thus far with
Indifferent success.
Nipissing Mincs.-An extra dividend
Of ) per cent has been declared by this
company, and also a regular quarterly
dividend of per cent, payable Octo-
Der 90 to stockholders of record Sep
TENDER %. The company's financial
statement as of August 81, 1917, shows
cash on hand amounting to sl,84S,692;
value for bullion and ore in transit,
S239, 500; value of ore on hand and in
process, SSl0,S99.
McCrory Stores Corporation.-Au-
gust sales amounted to s6l9,73 an in.
crease of 17.43 per cent over the same
month in 1916. From January to
August 81 sales totalled s4,545,023, a
gain Of 1916 per cent over the CORE"
spending period year ago.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-09-12
Higher Rates Asked for
Australian Railroads

The railway commissioners OF the
several states of Australia, according
to consular advices, are asking permis-
sion to increase freight rates and pas
senger fares to meet increased wages,
cost of materials and higher interest
charges. Without increased charges
the state railways, it is said, threaten
to become a serious financial burden to
the state governments, at a time when
they are seriously limited in their bor-
rowing. due to the desire OF the i'm
perial government that the greatest
economy be exercised; but even with
what would appear to be strong case
for higher charges, it is not easy to Sc
cure the approval of the public.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-09-12
London Money Market.-LONDC
The Dollar in Foreign Exchange

Russian rubles broke TO 1874 cents
yesterday, closing at Il cents. The
reports in circulation in regard TO in
ternal affairs of Russia were such as
to accentuate the weak exchange posi-
tion Of the ruble. Swiss and Spanish
exchange rates hardened, while French
and Italian exchange showed an easier
tendency,
Closing rates yesterday, compared
with a week ago, are given n the table
below. American bankers have sus-
pended all dealings in German and
Austrian exchange, so that daily quota
tions for either marks or kronen are
no longer available.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-09-12
Money and Credit

A frmer tendency was again apparent
in the local money market and the rul-
ing call loan rate at the Stock EN-
change worked up TO 5 per cent, COM
pared with Az the day before. The
close WAS at 81 per cent.
1t was stated yesterday that the
banks have large amounts of money
loaned on call at the present time.
They have increased their commitments
of this character in order to keep their
funds LIQUID to meet the sudden with
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-09-12
Scandinavians Buy
Shipping Shares

COPENHAGEN, Sept. 1.-THE STOCK
market here experienced sensational
boom in the past week. The unusually
heavy transactions, particularly IN
shipping and industrial stocks, resulted
in increases of from 40 to more than
200 points. Part of this activity was
attributed to heavy Swedish and Nor
wcgian purchases Of Danish shipping
shares. L;.
1t is reported that a law is being
drafted to forbid sales TO foreigners.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-09-12
Current

foreign money in terms of the Ameri-
can dollar. You Guy an English pound
sterling at, say, $4.75+a. The intrinsic
parity is $4.S65s per pound. Thus, you
say either that pounds are at discount
or that dollars are at premium, which
is owing to the fact that in England
the demand for dollars with which to
settle accounts in this country is great
er than the demand in this country
for pounds with which TO settle se-
counts in England.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-09-12
Elections

Stockholders OF the Iowa Central
Railroad Company at their annual
meeting elected Z. ". Tompkins direc.
tor 70 fill a vacancy in the board.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-09-12
News Digest
Foreign

London Stocks Depressed.-LON-
DON, Sept 1.-THE stock market to-
day was still urder the influence Of the
Russian situation. Traders declined
fresh business pending clearer out
look. and consequently values dropped
slightly all round. Explosive, rubber
and shipping shares were about he
only firm exceptions. Russian issues
were depressed and Russian exchange
SCARED TO 355 to 800. Scandinav an
bonds were dull, Argentine rails de.
clined without much business and
American securities were idle.
Paris Bourse.-PARIS, Sept. IL
Trading was quiet on the Bourse TO-
day. Three per cent rentes. 81 francs
20 confines for cash. Exchange on
London, 27 lrarcs IS confines. Five
per cent loan, IS francs ) confines.
Rand Gold observation-disclosures,
Sept. 1l.-Gold output of the Rand
gold mines in the month of August to-
tailed 1855 fine ounces. valued at
f3,214,079. compared with 78l,150 fine
ounces produced i'm the same month
a year ago. valued at f3,316,1l6.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-09-12

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, 1917-09-12

Commercial Paper.-The market was
quiet yesterday, with the rate holding
around 81 per cent for the average of
maturities.
Official rates Of discount for each of
the twelve Federal districts are as fol-
lows
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-09-12
Mexican Mines
Now Yielding
Owners Profit
American Smelling and Re-
hning Co. Says Govern
ment Aids Operations

For the first time in three years the
American Smelling and Refining Com
pany is enjoying n net income from its
extensive Mexican properties, due to i'm
provemcnt in the internal situation in
that country. This is emphasized by
Daniel Guggenhcim, president of the
company. in report on operations for
the first half of the current year.
Net earnings from all the company's
plants in the six months period aggre-
gated 6,931 JIG, an increase of So, 1885,
73l, compared with the corresponding
period of 1916. Other income brought
the gross income up to slS,757 800, an
increase of S5,52s,SiO over a year ago.
Net income for tho six months, after
deduction Of charges sggregating S.
555,778, amounted 70 Sl0,202,l19, a de-
crease OF S943,573.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-09-12

drawals OF government deposits from
time TO time.
Local bankers are favorablly i'm
pressed at the steps being taken by the
Federal Reserve Bank of New York
and the Liberty Loan committee toward
centralizing control of the money mar
ket at this centre in a manner that will
work toward stabilizing call rates.
The plan under foot is designed to pre-
vent temporary squeezes.
offerings of money to be loaned out
for fixed periods were scarce again yes
terday. Rates were unchanged in the
main.
Ruling rates for money yesterday,
compared with a year ago, were as fol-
lows:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-09-12
Bank Clearings.-The days clearings

Silver-Bars in London, sod, an in
crease Of I'D; New York, 9S'sc, up lc;
Mexican dollars, 79c, an advance Of &C.
Sub Treasury. - New York banks
gained from the Sub-Treasury ST.
238,OO0
Gold Currents.-Gold coin TO the
amount Of s2,73S,000 was withdrawn
from the local Sub-Treasury yesterday.
The destination was not stated.
London Money Market.-LONDON,
Sept. I1.-Money was in better demand.
The ruling rate was 32i per cent. Dis
count rates. short bills, 4H per cent;
three months bills. 1916 per cent.
Gold premium at Lisbon, 5000
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-09-12
Allowance for Taxes

The company has provided suspense
account calculated to cover the esti-
mated Federal income and excess prof
its tax for the period covered by the
report. This reserve amounts to 49,
SS9.5G1. and compares with Sill ,023 set
aside in The corresponding period OF
last yea- for the same purpose. The
increase OF S3,77S,537 in this item is
responsible for the decrease in net in
come. Regarding reserve funds pro-
vided for The directors state that that
amount set aside is an estimate which
may prove 70 be too large or too small,
owing to the fact that the law fixing
the amount of these taxes has not yet
been passed.
In discussing the situation in Mexico
Mr. Gugrenhcim says that all the mines
and shelters owned there by the com
pany are now operating, except those
adjacent TO Chihuahua and those at
Vclardena. Work is carried on under
many difficulties and only 20 limited
extent as yet.
THE government OF Mexico is most
anxious TO have the company succeed
he says, land laborers are very will
ing 10 work. They are suffering, how
ever. TO even a greater extent, compare
lively, than the inhabitants OF the
United States, on account of the nigh
cost Of living. j. is estimated that
the cos. OF necessities in Mexico Is az
the present time six times greater than
during the period preceding the reyolu-
ton. To meet this situation the com
pany is importing and selling such ne
cessities 20 cur laborcrs at cost, or
lower, and has largely increased the
wages paid.
Transportation Shortage
"The greatest difficulty encountered
is that Of transportation. To overcome
this the company has purchased the
necessary cars and locomotives, and IS
managing, under the permission OF the
Mexican government, its own railroad
transportation.
THE business Of the company in
Mexico. in connection with the payment
Of freight and taxes to the Federal gov
eminent. and in connection with the
employment Of its people, has seemed
TO the board of directors to be very I'M
nortant, looking 20 the welfare OF the
Mexican government anu 10 lHH"O.
tants. The board, therefore, felt that all
difficulties should We overcome without
regard to temporary profits. SO long.
however, as the present high prices OF
metals continue the company will be
amply repaid"
Expendturcs Of the company in the
six months period in connection with
increasing the facilities and capacity Of
the various properties. together with
the purchase of new properties, amount
ed to S3.79i.GA7. This has been charged
TO the reserve account of 100000,
established last year for this purpose.
The investment in securities OF
other companies amounted 70 Sl,7A4,-
ia, an increase Of S9l6.S97 over tho
corresponding period Of last year This
increase represents investments in min
ing properties in this country, and also
in Chile. as we'll as coal properties and
plants for the manufacture Of chemi-
Gals.
The board Of directors has estab-
lished ar employees life insurance fund
of 100000.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-09-12
Regulations in Detail

The detailed regulations governing
all future gold and silver transactions
involving the shipment Of the metal
out of the United States were received
at the Federal Reserve Bank yesterday
from the Treasury Department at
Washinrtnn- They follow: