davidaulloa/AmericanStories huggingface dataset:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-12-14
Other Cities

Conspiracy Charges of Long Stand
ing Drop.-DENVER, Dec. 13.-Charges
of fraudulent conspiracy between the
Denver G. Rio Grande Railroad and the
Colorado Midland Railway Company,
involving $4,000, 900. have been dropped,
thereby ending litigation covering a
period Of years. A petition of COM
promise has been filed in the Federal
Court here by the Colorado Midland
receiver in the case of the Central
Trust Company. of New York, COM
plainant, and William IL: Sands. inter
venor, against the Colorado Midland.
BY the terms Of the compromise the
Denver & Rio Grande agrees 70 pay
s12j,000 and all costs. The petition
was granted by Judge Lewis.
The litibation grew out OF a loan OF
100000 guaranteed by the Denver &
Rio Grande and made by the Equitable
Trust Company OF New York 20 the
Colorado Midland. A part Of the col
lateral was 1919 shares of Rio
Crande Junction Railway stock.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-12-14
Court Enjoins the
Stock Exchange From
Expelling Member
X. II. Fiero Declares Hearing
of Charges Against Him
Was Unfair

Raymond II. Fieto, member OF the
Stock Exchange firm of r. II. Fiero &
Co.. obtained an injunction from Jus
tice Giegerich restraining Henry Il. >.
Noble and George W. Ely, president
and secretary. respectively, OF the
stock Exchange, from announcing his
expulsion as q member. Fiero was
tried on Wednesday on charges that
he had committed acts Inconsistent
with and against the just and equitable,
principles Of trade He was found
guilty and the restraining order vas
obtained by Fiero. who intends TO fight
the verdict. to prevent the official an
nouncemert Of his expulsion as a
member Of the exchange.
Ficro saws that he was not guilty of
the charges against him, that he did
not have a fair hearing and that he
raid $50 900 for the seat of which the
attendants now seek to deprive him.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-12-14
Phelps-Dodge Pays
$3.50 Extra Dividend
Stockholders Receive for the
Year Thirty-two Dollars
a Share

Directors Of the Pheips-Dodge Cor
poration declared an extra dividend OF
$3.50 share yesterday in addition TO
the regular quarterly disbursement OF
$3.50. making a total cash distribution
Of $40 for the three months period. In
the preceding quarter the extra diyi-
dend was $3.50.
Including the latest disbursement,
which is payable December 2S TO stock
Of record December is. the Phelps
Dodge Corporation will have distrlo-
u.ed a total in cash dividends Of s32 for
The current year, 500 of which was
extra" In 1916 extra dividends 70
the amount off 22is per cent we're paid
on the s45,000,O 900 stock and 10 per
cent regular. a..
meeting yesterday that Of the $3.50 ez-
ira just declared, IS represented DIS
tribution from reserves.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-12-14
Argentina Ready
To Make Final
Payment on Loan
South American Nations
Are Now This Country's
Creditors

The Argentine government VIII pay
of tomorrow a maturing S5,OOO'OOO Is
sue Of 6 per cent notes sold to syn
dieate OF New York bankers in De-
cember. 1911. With this transaction
that country will have paid oF all the
money it has borrowed here on short
term notes since the outbreak of the
war.
Soon after the war began the London
market was closed 20 foreign borrow
ings. as the British government an
nounced that it would lend only to IT'S
allies and to those countries within the
empire. As a result Of this policy the
Argentine. with other South American
countries, turned 20 America for funds.
At the beginning of the present year
the total of loans By American bans
ers 20 the South American repuollc
was in the neighborhood OF Soo'ooV'Vuu'
The notes that will be retired 70,
morrow were part of total issue OF
si5.00O.000, dated December 10, lgI4'
s5.000.000 Of which were PAID OH
YEAR later and S5,000,0OO on December
Is, 1916. The banks in the syndicate
that offered the notes here included
the National City Bank. the Guaranty
Trust Company and Harris, Forbes g
Co.. Of New York; the Continental ana
Commercial Trust and Savings BANK
and the Illinois Trust and Savings
Rank. both Of Chicago; the Fourth
Street National Bank, of Philadel phia;
the Union Trust Company, Of Puts
burgh. and the First National Bank Of
Boston.
Secretary of the Treasury McAdoo :
recent request that the gold holdings
OF the country be maintained through
the establishments Of credits 70 the
account of creditor nations has led 20
discussion in banking circles here as
TO how gold exports 70 South AnerI-
can countries may be prevented. Ohe
Of the suggestions that Is UNDERSTOOD
10 be under consideration provides Tor
the establishment Of Argentine credits
here against which that country may
draw in this market Exchange Pc
tween the United States and Argentina
has been running strongly in favor OF
the latter. and inasmuch as gold SNIP
Inents are not permitted, it is regarded
as imperative that some steps be taken
whereby American importers OF COM
modities from Argentina can arrange
satisfactory payment. 1t was first sug-
gested that an American credit be es-
tablished in the South American re-
public. but il is understood that the
bankers have lately proposed the De.
post of funds here 20 the credit G.;
Argentina.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-12-14

According TO reports from Wash
ingtop, government control of the
railroads may be effected under a
plan which would call for guarantee
Of net earnings equal to those of
1916. or the average Of a period Of
several years. Net earnings in
1916 were the largest on record, but
in view of the great shrinkage in the
purchasing power Of money, they
might be accepted as a fair standard
Of condensation. On that basis the
stockholders would fare very well
as long o. the guarantee remained
in effect. But the government
must do more than guarantee net
earnings for the period Of Federal
control-if such control Is assumed
If the railroad investment is to be
protected as it should be. During
that period operating expenses Of
the carriers undoubtedly will be
greatly increased through the pay
ment of high wages to the members
Of the brotherhoods and other
workers. The question of a 40 per
cent advance IN the pay of large
number Of railway workers is even
now under consideration. Expert
ence plainly shows that wage rates
are never reduced as much or as
fast as they are increased. There
fore, unless measures are taken to
provide an Offset to these wage in
creases, the railroads will suffer
greatly when the war is over and
private operation is restored. That
is one of the reasons why British
railway stocks have slumped so
heavily since government operation
was put into effect. Wages have
gone up to record levels, but freight
rates have remained stationary, and
in consequence the outlook for Brit
ish railway stockholders is far from
encouraging. OF course, if the
American railroads were to remain
permanently under government con-
troll, the matter would be simplifed,
but proposals thus far advanced in
dicate that the intention is to take
control only for the war period. If
that is so, the rate question should
be handled just as if there had been
no change in the situation. And
there is no doubt that if the rail
roads were to remain under private
control any expansion in the cost
OF operation through wage increases
or otherwise, would have to be met
with corresponding increases in
rates.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-12-14
Liberty Bond Commissions

Bond men who have been ondeavor-
ing to have the government pay a
commission for the sale of its Liberty
Loan bonds expressed the opinion yes
terday that the chances Of such move
being made By Washington we're eX-
ceedingiy slim. An officer Of one OF
the leading investment houses in Wall
Street asserted that il would be DIFF.
fcult to determine in a campaign OF
the size Of the recent Liberty loans
who would be entitled and who would
not 70 such commissions as the gov
eminent might see fit to allow. The
campaign TO obtain commission on such
sales is being continued. however. ss
many bond houses would welcome such
income as an aid to meeting fixed
charges.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-12-14

Many stocks. particularly those
producing basic things, are selling at
prices which represent market APP
praisals well below the actual in
trinsic values of the properties they
represent. That can be proved sta
tistically in not a few cases. 1t IS
much easier to see this by isolating
a single stock for purposes of illus
tration than by dealing in generali-
ties. Let US take the market leader,
Steel common. At the end Of 1916
the asset value of the common stock
of the United States Steel Corpora
ton was estimated at something
M.v .han $50 a share. Net earn
''is year after the payment Of
all taxes and preferred dividends,
will amount probably to $50 a share,
and possibly to more than $50. 1t is
naturally impossible TO forestall
what 1918 has in store for the cor
poration, but in the light Of present
information it is a reasonable as
sumption that net earnings will eX-
coed those of any pre-war year. Yes
terday these shares sold for less than
$50. Now, it is conceivable that
Steel common may sell we'll below
the point reached yesterday; indeed,
there are those who believe that it
will. \But one thing is plain, never
theless; that is, as and if the price
goes down, it will get more and more
out of line with intrinsic value. And
what is true of Steel common is also
true in greater or lesser degree Of
many stocks, and possibly to some
extent of many bonds and other Sc
curities the returns on which are
fixed or limited by regulation or
otherwise. The qualification is used
because as initiation progresses the
relative yield on securities with a
fixed return may decrease. 1t works
the other way with stocks.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-12-14
Steel Shares Under so

When United States Steel common
broke to 1875 yesterday it reached the
lowest level since March II. 1916, when
the upward movement began which car
ried the price to 1868 on May 81 last.
The movement since then has been
steadily downward. Yesterdays low
registered a decline OF 95s points from
the low prize Of November. October's
low was 80 and September's 1924.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-12-14
4 Big Job to Fill

New York bankers in close touch
with developments in Washington
agree with the views expressed by Off
Gals OF the Administration that the
proposed railroad dictator need not
necessarily be an operating man. II
is emphasized, however, that the man
chosen by President Wilson should be
a business man of broad vision and
expe rience-a man who can render
quick decisions on the numerous prob
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-12-14

lems now confronting the carriers.
"Thc main trouble" said prominent
banker yesterday. SIS that there 10 an
utter lack Of coordination in the issn-
nnce of priority orders. As an exam
RE. a railroad operating official may
receive at the Same time priority or
ders from the War Department, the
Navy Department and the Shipping
Board. ali vested with the same su-
thority. With the issuance OF these
orders subject 20 revision BY one man
much of the present congestion would
be soon relieved. The man 10 issue
these orders must command the re-
spect of railroad men, but IL Is not
necessary that he understand the de-
tails Of railroad operation"
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-12-14
Dividend Changes

Victor Talking Machine.-An extra
dividend of Is per cent has been de-
clared on the common stock, IN aodI,
ton 10 the regular quarterly DIVIDEND
OF ia per cent on the preferred ara
> per cent on the common shares Inc
extra disbursement VIII be mace OF
December IS 70 stockholders Of record
December -. and the regular dividends
viii be paid January 10 TO stockholders
Of record December 81.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-12-14
Fdmunds e. Jones Corporation.-A

dividend Of % cents a Snare has Deem
declared By this company on the com
mon stock, and the regular quarterly
dividend Of L.. per cent on the pre-
ferred stock, payable January l to
stockholders Of record December 20.
Quarterly dividends of 81 a share were
previously paid on the common STOCK,
the initial payment having been made
on July !, 1916.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-12-14
Current
nsHaH1v.-.

The above rates express the cost OF
foreign money in terms of the Ameri-
can dollar. You buy an English pound
sterling at, say. s4.75i. The intrinsic
parity is Ss6S per pound. Thus, YOU
say either that pounds are al a discount
or that dollars are at a premium. which
is owing 10 the fact that in England
the demand for dollars with which TO
settle accounts in this country is
greater than the demand in this coun-
try for pounds with which TO settle
accounts IN England.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-12-14

W. [. Hawkins has been elected pres
ldent OF the Southern Canada Power
company, 20 succeed c. J. MeCuaig.
who remains on the board Of directors
ana executive committee. J. X. Noodle
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-12-14
Commercial paper-Commercial "a

Commercial Paper. commercial pa
Per rates yesterday were 81 per cent
for four months maturities and 5# per
cent for paper running six months.
The volume Of business moving was
small.
Official rates Of discount for each OF
the twelve Federal districts arc as fol-
lows:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-12-14
Keystone Tire and Rubber. DireC

tors have declared an extra dividend
OF one-third of per cent on the pre-
ferred stock, also the regular quar-
terry dividends Of per cent on the
preferred and per cent on the com
mon stocks, all payable January 70
stockholders Of record December y.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-12-14

Saftey Car Heating and LlshtIng'
This company declared quarterly diyi-
deud Of IL per cent, payable Decem-
Der q to stockholders OF record De
cember s. This is a reduction OF one
half of per cent quarterly.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-12-14

Below is given the current exchange
value of foreign money IN dollars and
cents, together with the intrinsic colo
parity, as calculated by the United
States Mint:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-12-14
London Money Market. LON

Dec. 13.-Money was scarce at 4 per
cent. Discount rates, short bills, As
per cent; three months bills, Az per
cent. Gold premium at Lisbon, 10.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-12-14
New York
Vulcan Steel Products

Vulcan Steel Products. -- The COM
pany announced yesterday that on De-
cember 1 the syndicate headed by Gen
eral T. Coleman du Pont, which owns
a majority of the stock of the corpor-
alton, assumed the active Management;
Of the company's affairs, Otto Kafka
who for time served as presiden;
and manager. having relinquished his
connection with the corporation. The
board Of directors OF the company, az
organized, includes lie Roy W. Bald.
win, Lewis l.. Durham, I. Coleman du
Pont. Frank II. Hitchcock, Stuart Me.
Namara and r. D. Ward.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-12-14

Ahmeek Mining.--A quarterly divi-
lend of 50 a share has been declared
By the company, payable January 10 TO
stockholders of record December 10.
In each of the FIVE preceding quarters
81 a share was paid.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-12-14
News Digest
Foreign

Better Feeling in London Stocks.
LONDON, Dec. 13.-The stock market
threw off some Of its recent heaviness.
Business did not expand materially, but
gilt-edged securities were maintained
and shipping, iron, steel. oil and rub
Der shares showed hardening tenden-
CT. Japanese bonds had better support.
Brazilians made the best showing
among the foreign issues. The specu-
latiye stocks marked time pending de-
velopments in the war.
Paris Bourse.-PARIS, Dec. l3.-The
Bourse was calm to-day. Three per
cent rentes. 80 francs 90 confines for
cash. Exchange on London, p francs
% centimes. Five per cent loan, IS
francs confines.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-12-14
New York Stock Exchange Transfer

New York Stock Exchange Transfers.
The following memberships have been
posted for transfer: Grant b. Schley,
deceased, to Warren A. Lamson; Dan
iol A. Loring. jr.. TO Claude c. Pinley;
Albert W. Scholle, deceased. TO Alex
ander Herman. The price in each in
stance was $4,000, unchanged troc'
the last previous sale.
John II. Hord has been elected mem
Der of the Exchange.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-12-14
Elections

William +. Woodward, Of the Indus.
trial Finance Corporation, has been
elected vice-president Of the Morris
Plan Company OF New York.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-12-14
Christmas Bonuses

Besides its usual Christmas 80
of 10 per cent. the Chase Nsp'-
Bank announced yesterday j. ' AK.
make an additional distributor AZ
ing the coming year equal 70 ~
cent of the salary Of eseh ~
This latter Is in recognition "
higher cost Of living.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-12-14

Harvey A. Willis, Of Harvey A. vii.
Us & Co., has been elected a member
OF the Consolidated stock Exchange
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-12-14
Bank of England

Bank of EngIand.-Gold holding de-
creased G23,IS4 during the last week.
The proportion Of reserves 70 liabili-
ties now stands at 1858 per cent,
against 1874 last week. The state
ment, with TIE changes from a week
,..o soi1o-.s.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-12-14

Directors OF the chatham ,,,i
phenix National Bank YESTERDAY M
an additional compensation W 4
ciorks equivalent TO 20 per ~,
their annual salaries. Ten ~ %
Will be paid on January ] ss,s
other 10 per cent on July j. IT,
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-12-14

Sub-Treaspy.-New York banks lost
10 the Sub-Treasury s3,205,000.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-12-14

Silver.-Bars in London, 42'sd, IN
changed; New York, S5Esc, unchangedi
Mexican dollars, Gee, unchanged.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-12-14

compared with a year ago, were as fol
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-12-14

Exchange Firm to Dissolve.-Thc
Stock Exchange firm of Rutter & Rearl
announced yesterday that il will lis.
continue business after January l.
Members of the firm are ]. W. Rut.er
and y. p Ream.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-12-14

Conserancy Bonds All Sold.-Thc
National City Company, Harris, Forbe:
& Co. and the Guaranty Trust Com
pany announced yesterday that the
SO ,000,0 Miami Conservancy District
Ohio, 5is per cent bonds had all beer
sold.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-12-14

Bank Of France.-The weekly state
ment, with changes in francs, from
week ago, follows:
The daily Gate City and constitution-Democrat. (Keokuk, Iowa) 1916-1922, 1917-12-11
Gift of One Dollar From Last Ysar
Beneficiary Has Been In
creased Fifty
Fold.
SHOULD GO IN AT ONCE
Everyone Who Intends to Give Should
Send Their Money Now,
and Help Committee
Plan.

Already the contributions for the
community Christmas are being sent
to the treasurer Miss Elsie Buck.
Early subscriptions make it possible
for the committee to conduct the
work with greater intelligence and
to plan the buying with economy and
good judgment. The following sub
scriptions have been received:
From one who last year re-
ceived basket ..............S Luz
Mrs. Eugene S. Baker. $500. $25. 90
A friend $500
To have the subscription headed
this year by former beneficiary is
a most convincing answer to the
argument that giving at Christmas
creates a dependent class. To help
the less fortunate at Christmas
blesses the giver as well as the one
who receives.
Headquarters will be opened at
408 Main street next Monday morn
ing. BY that time the money should
be subscribed so that the work of
buying and tying up the packages
and all the details of the lists and
addresses and the hundred and one
other things connected with it can
be done on time. Mrs. Guy Singleton
receives the contributions of canned
fruit and vegetables. Notify her if
you have gifts of that sort. Tele-
phone Mrs. Louis Sterne If you wish
to fill basket yourself. Send all
checks to Miss Elsie Buck Mrs. c.
NJ. Rich has charge of the list of
benefciaries. If you know anyone
who should receive basket tele-
phone Mrs. Rich. The Ladies of
Charity who always take promi-
nent part in the community Christ
mas have their headuarters at st.
Vincents hall and all who wish to
contribute to their part of the com
munity Christmas can send contri-
buttons to St. Vincents
The daily Gate City and constitution-Democrat. (Keokuk, Iowa) 1916-1922, 1917-12-11
ELECTION OF
LODGE OFFICIALS
kahoka Secret Orders We're Busy
With Ballots, Selecting New
States for Coming
Year.

| kAHOKA, Mo-, Dec. 11.-Lester r..
Penn, a former Kahoka boy son Of
Mr.. and Mrs. M. L. Penn, was married
on December 1 to Miss Ellen McClary,
at Atonka, Oklahoma. The groom is
engaged in newspaper work at Mus
kogee, Okla. Kahoka friends extend
congratulations
| The Kahoka band, under direction Of
/ Prof. w. II. Bowers, gave a delightful
concert at the opera house Wednesday
evening. The inclement weather kept
many from attending
W. H. Bowers has been appointed
city clerk. vice, Albert Mckee, resign
ed. Mr.. Bowers will make the city a
competent clerk.
This has been election week with
the several lodges Of the city. The fol-
lowing named were chosen: Woodmen
t-P. ]. Starr. consul; O. G. Watson.
adviser: G. F. Kroh. banker; s. c.
Fairbrother, clerk: VIM Wagner, es-
cort: Jos. Hobson. watchman: Thorn
as Wickham. sentry: c. d. Young
and o. T. Muphy, managers: Drs. W.
.B. Sisson and P. l.. Geeslin, physicians.
Odd Fellows-Adam Lang Sr., NJ G.;
Rec. Secy.: A. G. Seyb, Fin. Secy.;
Jacob Arnold, Treas Knights Of
Pythias-Leon Crawford, c. c.; G. F..
Kroh, V. c.; E. Z. Calvert. prelate; =.
L. Young, M. W.; j. NJ Schnebly, K.
r. s.; X. R. Trump, M. F.; P J. Starr,
NJ. E.: H. G. Meyers, NJ. A; w. B. Sis
son, l. g.: c.. G. Lang, o. G. Home
steaders-E. G. Miller. president; Mil
ton Yalton, vice president; Mrs. Dora
Wilson, secretary; J. NJ. Hays, treas
urer; Leonard Zimmerman, chaplain:
Lumas Mccoy, marshal Mortle Will
sey, man-at-arms; Frank Heinze, her
aid: Maude Sherwood. L. Of E.;
Martha Shallenberger, l.. OF c.
At business meeting at the Baptist
church Wednesday evening the follow
ing officers were elected for the COM
ing year: Rev. C. E. Newton. pastor;
Rev. w. NJ Cooney, clerk; Dr. ]. r.
Bridges, treasurer; J. c. Johnson.
deacon: E. G. Bloom, trustee: Mrs. B.
L., Gridley. organist; F. e. Greenlee,
Sunday school superintendent.
Miss Gertrude Shuman of this city,
has accepted position as stenograph-
err with the Midwest Oil Co., Kansas
City.
Mrs. S. w Pie entertained num-
Der Of friends at her home Friday ev
ening.
Mr.. and Mrs J. w. McDermott, of
Kahoka, and Frank Neff Of Revere, at
tended the live stock exhibition in
Chicago this week.
Miss Margaret Davalt of this city.
has accepted a position in the war de-
partment at Washington, having pass
ed the civil service examination. She
will report for duty December Is.
Mr.. and Mrs. J. s. Matlick departed
this week for an extended visit with
relatives in Kansas.
Charles Maxwell of this city, has
been awarded the contract of painting
the new schoo!. building at Mapleton,
Iowa. The building will be ready for
the brush in the early summer.
The Kahoka tcity council and the
members of the school board are final
ly agreed on the city water PROPOSE
ton and main has been ordered in