davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1918-06-11

Supreme Court
Decides Silver Quarrel
Holder of a Claim May Fol
low Vein in Either
Direction

WASHINGTON, June 10.--The right
of holder Of silver claim to follow
indefinitely in opposite directions
vein where the crest or apex Of the
anticling is within that claim was sus-
tanned by the Supreme Court to-day.
The question involved in this suit is
important in Western mining opera
tions.
The court decided proceedings
brought by the Jim Butler-Tonopah
Mining Company to recover the value
Of ore extracted from beneath the sur
face of its claims by the West End
Consolidated Mining Company, a
Nevada corporation In bringing the
suit the Jim Butler Company denied
an apex existed, but contended the
vein was in the form of roll The
lower courts, in part sustained this
contention, but ruled that the crest Of
this roll instituted an apex, and that
the West End Company had the right
to operate the vein in opposite direc-
tions on both sides of that point.
New-York tribune., 1918-06-11
Atlantic, Gulf and
West Indies Lines
Earnings Larger
Company's President Re.
ports New Government
Rates Are Satisfactory

The Atlantic, Gulf and West Indies
Steamship Lines in 1917, according to
the company's annual income state
ment issued yesterday, earned sur
plus equivalent to 59.57 per cent on
the $14,963,400 outstanding common
stock, compared with 50.o2 per cent
earned the preceding year. These fig
ures were reached after deduction
Of S5,400,O0O for war taxes. In his
remarks to stockholders. however,
Galen L. Stone, president, snid that
the provision for war taxes totalled
$6,611, $3.50, and that the combined net
earnings for 1917 Of the corporation
we're equivalent to 522 per cent on
the junior issue Of stock.
Last years gross business amounted
to $48,212,054, compared with $35,175,-
$50 in 1915, and s21, 1,4oo,47l in 1915.
Operating expenses absorbed S32,610,-
981 and regular taxes s4e3,44o. Other
income was s1,S53,701 greater than in
1915, 80 that the net income before
interest and ren,als amounted to 49,
647,513, an increase Of $1,412,s46.
Mr.. Stone threw new light on the
sale last February of seven of the COM
pany's ships TO the Comision Regula-
dora del Mercado ie Hcnequen. This
was not exclusively a cash transaction
as was reported at the time. The
vessels were sold for $4,250,000, of
which 100000 was paid in cash and
$2,250.000 accepted in notes of the
Mexican Sisal Commission. These
notes, bearing 6. per cent. Mr.. Stone
foreign bank of "unquestioned re-
sponsibility."
Including these notes." he added
"there will be in the treasury of the
Mexican Navigation Company approx
imately $5,000,000, after payment of
all known liabilities, including S273.-
1853 war income taxes, substantially rs
per cent of which belongs to your cor
poration and its subsidiary company
New York and Cuba Steamship Com
pany. After the seizure of its ships
the Mexican Navigation Company dis
continued doing business in the United
States, and as soon as the above-men-
toned notes are paid the company will
be liquidated."
Referring to the governments com
|
of $500 tons dead weight or over, in
1917, Mr.. Stone declared that the new
rates put into effect were satisfactory
although at considerably lower rates
than were then and now are prevailing
| for neutral tonnage" Mr.. Stone also
expressed the conviction that the COM
pensation to be fixed for the subsd-
larry properties taken over under the
Presidents proclamation of April 13
1918, will be satisfactory to the stock
holders. The companies now operated
by the Director General of Railroads
under his proclamation are the Clyde
Steamship Company. the Mallory
Steamship Company and the Southern
Steamship Company.
The company received S4,480,ooO
cash from rne government for the
steamships Saratoga and Havana. Fol-
the Massapequa, which was sunk by
a submarine off .hc western coast OF
France, while under charter to the
French Republic, 100000 was paid.
The report indicated that among the
assets of the parent corporation and
its subsidiaries are $5,514.000 United
States Liberty Loan 31a per cent
bonds; $3,729,000 per cent bonds anc
S3,000,000 of the last issue.
New-York tribune., 1918-06-11
Motor Trucks Relieve c Congestion

Motor trucks have been coming more
and more into use es the congestion
has increased around the principal
ports and industrial centres of this
district. Shipments by motor trucks
between cities are being made on reg
ular schedules maintained by numerous
companies operating trucks. The Phila-
delphia Chamber of Commerce has in
stltuted Return Loads Bureau" to
bring shippers and truck operators to-
gether and avoid incfficiency due to
return trips made without any load
or or, load below capacity of the truck.
costly in the majority of cases, the
advantages Of certainty and rapidity
Of transportation more than Offset thai
disadvantage in the case of the Tighten
and more valuable commodities Fed
eral Reserve Bank of Philadelphia.
New-York tribune., 1918-06-11
j. A. Gordon Chosen
Bean Cake Makes Good Dessert

Bean cake, which is produced in
large quantities in South Manchuria,
has been regarded as good for little
else than fertilizer. The "Manchuria
Daily News" now suggests Its use as
food, stating that Viscount Tajiri, the
new Mayor Of Tokyo, holds the cake
as excellently suited to the Japanese
palate. The "News" states that bean
cake costs only one-third as much as
rice and contains more nutriment than
wheat or barley. To prepare it for
the table the cake is mixed with an
equal quantity of rice.
New-York tribune., 1918-06-11
]. c.. Blaine To Be a Banker
Statesman's Grandson Engaged
by Liberty Bank

James G. Blaine, jr., grandson of the
famous statesman, was elected yester-
day president of the Liberty Ma
tional Bank. Mr.. Blaine, who graduated
from Harvard with the class of 1911,
is said to be the youngest vice-prcsi :
dent of a bank in Wall Street.
Some time ago Mr.. Blaine became
director of the Bureau of Development
of the American Red Cross at Wash
ington, and his work there attracted
the attention of Harvey Gibson, pres,-
dent of the Liberty National Bank. He
will assume his new duties in the fall
and IN the meantime will continue his
work with the Red Cross in Washiag-
ton
New-York tribune., 1918-06-11
Silver Agents Chosen
Handy & Harmon to Supervise
Indian Shipments

Announcement was made yesterday
that Handy g. Harmon, New York bull
ion dealers, have been designated to
act as the agent of the British govern
ment in handling shipments of silver
from this country to India. The firm,
as the American representative of the
British Treasury, will take charge Of
the physical transfer of the silver that
is now being shipped to India. This is
the silver that the United States gov
ernment is obtaining through melting
down its silver dollars under the pro-
visions of the Pittman act, recently
passed by Congress.
To date approximately 600O0,000 sill
yer dollars have been melted down into
bars. Most of this has already been
shipped to India, where it is made the
basis for American credits
New-York tribune., 1918-06-11
New York

Batavia Rubber Company Gets a Re-
ceiver...Judge Julius NJ. Mayer, in the
Federal District Court yesterday, ap-
pointed Maxwell H. Bochow as receiver
for the Batavia Rubber Company and
the Simplex Rubber Company of
America, incorporated, in a creditors
equity suit brought by the Connecticut
Cottons Company, Of Boston. With
a bond of $4,000 he was authorized to
continue and manage the business of
the defendant corporations and for the
preservation of the properties to incur
expenses and make such disbursements
as he may deem advisable.
The claim of the Connecticut Cot
tons Company is for goods sold and
delivered amounting to 1888 and, &C.
cording to the petition, the defendant
companies, although having assets in
excess of their liabilities at the present
time have not sufficient moneys on
hand to meet their obligations now
due, and that other creditors are pres
ing their claims and threatening to
bring suits.
New-York tribune., 1918-06-11
Drop in Untitled Orders
U. S. Steel Reports Fourth
Monthly Decline

Untitled orders on the books of the
United States Steel Corporation at the
end of May amounted to S,337 ,623 tons,
the smallest total since January, 1916.
The decrease, compared with the April
figures, was 404,259 tons.
The May shrinkage was somewhat
larger than expected in the trade and
registered the fourth monthly decline
since January. Since the corporations
facilities We're placed at the disposal
little significance has attached to the
monthly tonnage statements except as
they may indicate from time to time
the cancellation of contracts placed
previously by so-called non-essential
industries
New-York tribune., 1918-06-11
Elections

James G. Blaine, jr., of Bodell & Co..
has been elected vice-president of the
Liberty National Bank.
L. G. Huntley, we'll known as an oil
geologist, has been elected president of
the Island Oil & Transport Corporation.
Mr.. Huntley has been connected with
the United States Geological Survey,
with the Canadian government investi-
cations, and with the Penn-Mex and
Cortez OIL companies.
New-York tribune., 1918-06-11
Ontario Silver Dividend
First in Fifteen Years is
Declared

Dividends were resumed on the
shares of the Ontario Silver Mining
Company yesterday after lapse Of
fifteen years. The directors voted a
disbursement of so cents share.
The last dividend was paid in 1903.
In 1917 the company earned 43 cents
a share on its capital stock and in 1916
there was deficit of 1854. The ability
of the corporation to resume dividends
at this time is due in large part to the
high price of silver, the market for
the metal now being established at
about 81 an ounce, compared with As
cents before the war.
New-York tribune., 1918-06-11
Puget Sound Notes Offered at 90.
Marine Preferred Up Again

Following the circulation of an ap-
parently unwarranted report that an
official announcement would be made
within the next 4S hours" giving de-
tails of the International Mercantile
Marine British shipping deal, the pre-
ferred stock moved up sharply yester-
day closing at 104%, net advance Of
2as points. Inquiry in quarters famil-
lar with the progress of the negotia-
tions elected the information that
there has been no change in the situa-
ton
New-York tribune., 1918-06-11

The above rates express The cost Of
foreign money in terms Of the Ameri-
can dollar. You buy an English POUND
sterling at, say, s4.75as. The intrinsic
parity is $4.S6h per pound. Thus you
say either that pounds are at dis
count or that dollars are at a premium,
which is owing to the fact that in Eng
land 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 &C.
counts in England.
New-York tribune., 1918-06-11

Many Wall Street persons will
sympathize with the president of the
Elgin National Watch Company in
his bewilderment. 81 cannot say
what / think of business conditions
and prospects," Mr.. Hulburd told a
reporter, because there are so many
unprecedented elements and such a
conflict of expert views. | change
my mind several times a day" That
is the way with things in the stock
market; and it is not in the least
surprising that there should be so
much uncertainty, for startling eco
nomic readjustments are constantly
taking place, while almost every day
government control of industry is
extended in some new direction.
And all the time it is necessary to
keep watchful eye on the news
from the battlefronts. The outlook
is, in fact, so obscure that stock
trading Is discouraged. Yesterday
transactions in listed stocks totalled
anly 268,800 shares, the smallest
turnover since the collapse of the
recent spectacular bull market. The
chances are that the market will
remain dull for some time, though
occasional outburst of activity may
be expected from time to time.
New-York tribune., 1918-06-11
The Dollar in Foreign Exchange

Quiet conditions prevailed in the
foreign exchange market yesterday and
rates moved narrowly. Italian lire re-
manned steady, at Oil for checks.
Francs and sterling rates were firm.
Closing rates yesterday, compared
with a week ago, follow:
Quoted dollars to the pound.)
New-York tribune., 1918-06-11
Relevant Comment
Buys s1,ooo,Ooo of Liberty Bonds.

A stock exchange house was credited
yesterday with the purchase on the
board of $1,0oo,ooo of United States
Liberty Loan ANS. The bonds were
purchased for private clients. This is
sue opened at $3.50 and sold down to
96.70 with subsequent rally to 9708.
The closing price was 81. The second
As opened at 95, rose to 95.18, reacted
to 94.54 and closed at 94.90. The 3hs
closed at $3.50.
New-York tribune., 1918-06-11

gives the current rates of the twelve
Federal Reserve banks on commercial
paper on all periods up to ninety days:
New-York tribune., 1918-06-11
News Digest
Foreign

Foreign
Paris Bourse Quiet.-PARIS, June
10.-Trading was quiet on the Paris
bourse to-day. Three per cent rentes
were quoted at 66 francs for cash.
Exchange on London was at 81 francs
16 centimes. Five per cent loan sold
at 88.05.
New-York tribune., 1918-06-11
Money and Credit

Call money ruled at s to 511 per
cent at the Stock Exchange yesterday,
with slightly higher rates in the after
noon, when call loans against indus
trial collateral touched 6h per cent
for time.
The market for fixed date funds
showed practically no change at the
beginning of the new week. OFFERINGS
were less liberal and rates were steady
at 5% to 6 per cent. The demand for
time funds is not quite so insistent
since the large loans placed by the
banks last week.
Ruling rates for money yesterday.
compared with a year ago, were as
follows:
Per cent. Per a' cent. sst.
Call money:
On mixed collateral 5La 4A
On industrial col'tl 6 4M
Time money (mixed collateraD:
Sixty days. ...... 534@6 4N@5
Ninety days. 534@6 4l@5
-Four months. 534@6 4N@5
Five to six months 531@6 4H@5
SOAutkCASi@t 0pCAs--fA 1ulT VOlumC
of business was done yesterday at 6
per cent for the best regular ma
turtles.
Bank Acceptances.-There was an
active demand for bank acceptanccs.
Rates yesterday were as follows:
Thirty Sixty Ninety
Spot de- days. days. days.
livery: Per cent. Per cent. Per cent,
f z bic
m IN bar
banks. =. .4M@4 4h@4h 4hM4A
| ig bio
non-mcm-
Der banks.4h@4ls 4ss@4A 4h@4s.
Ineligible
bank bills.5A@4s4 sl4@4s4 5A@4sz
For delivery within thirty days:
Per cent.
Eligible member banks. ....... 4N
Eligible non-mcmbor banks. ..... 4ss
Ineligible bank hills lls.....
Discount Ratcs.-The following table
New-York tribune., 1918-06-11
b-Trcasury.-The banks lost t
the Sub-Treasury yesterday $493,000.

Circulation Statement.-WASHING-
TON, juno 10.-The monthly state
ment of the Controller of the Cur
rency shows that on June 1 there were
s6S7 .99S,070 national bank notes out
standing secured by United States
bonds, compared with $666,344,773 a
year ago. National bank notes out
standing secured by lawful money
amounted to s35,9S9,575, compared
with $50, PAL ,202 on June 1, 1917.
London Money Market.-LONDON
June 10.-Money was firm at 2A per
cent. Discount rates were: Short bills,
31a per cent; three-month bills, 3ls
per cent. Gold premium at Lisbon
was 10000
New-York tribune., 1918-06-11
Tube Bonds Drop In Price

Hudson & Manhattan bonds encoun-
tered rough going in the market yes
terday. The adjustment income IS
which sold up to PAN last week on
the announcement that the fare on the
tubes would be increased declined to
20 on heavy trading. The refunding
5s dropped to So and closed at So
compared with high price Of 62A last
week. The swiftly declining market
that developed in these issues was due
to the fact that Director General Nc
Adoo has ordered that the effective
date of the increased rate be postponed
pending an investigator.
Puget Sound Notes Offered at 90.
Although the $12,O00o0o three-year
7 per cent mortgage notes of the Puget
Sound Traction, Light & Power Com
pany were not placed on public sale
here yesterday it was learned that they
we're being offered privately at SO. The
offering syndicate consists of Harris.
Forbes & Company; Lee, Higginson G.
Company and Estabrook & Company
of Boston. The purpose of the issue
is mainly for refunding purposes.
New-York tribune., 1918-06-11
sUY-sELL

MIDWEST REFINING CO.
MERRITT OH CORPORATION
ELK BASIN PETROLEUM co.
INTERNATIONAL PETROLEUM
IMPERIAL OIL CO., LTD.
LoBIToS 0lLFlELDS, LTD.
SAPULPA REFINING CO.
HOUSTON OIL CO.
PORT LoBOS PETROLEUM
NATIONAL FUEL GAS CO.
NORTHWEST OIL CO.
CoSDEN AND CO.
BoHpS Z STOCK
Carl. l.H.pFORZHElME R&cQ
Den2nts fn Standard Oh Securities
PAsso u0- i-A4k nranA- ~ Rrund st.. n. 7.
New-York tribune., 1918-06-11

Silver.-Bar silver in London was
48%d, unchanged; New York. 991zc, un-
changed; Mexican dollars, TIC, un-
changed.
New-York tribune., 1918-06-11

Mr.. Hulburd added that the coun-
try has "a new set of eager buyers
and "a large section of the American
people have had their pay advanced
relatively much more than the in
crease in the cost of living and their
purchasing power is going to be felt
in every direction" Therefore, he
is sure of one thing, namely, "that
SO long as the war lasts, there will
be a tremendous demand for the
non-essentials, a we'll as the essen
tials." All of which is quite true.
In spite of the war savings cam
paign, and the nationwide propa-
ganda to persuade the people to
cease the wild orgy of spending
that was ushered in with war pros
perity, the demand for articles of
luxury is still almost overwhelming
The saving fact is, however, that
this demand it not going to be salts
fed, for restrictions on the output
of non-essentials are being rapidly
effected, and when the present sup
plies have been exhausted they will
not be renewed. Witness the wild
scramble for such supplies as remain,
as reported by the Federal Reserve
Board. What exhortation could not
accomplish is being brought about
by restrictions on production and
priority in supplies and transporta-
ton.
The representative Of the Farm
ers' National Committee has ad-
vanced simple plan for raising, not
00,000,000, but $4,000, 0,O00,.
600, by taxation. All that is neces-
sary, he says, is to seize all incomes
over $4,000 year. Evidently Mr.
Marsh, like good many other tax
reformers, has never bothered to
examine the income tax statistics
In 1916 there were about 1900
incomes exceeding $4,000 a year
and the average "excess" was, rough
ly, $105,000. There can hardly have
been any very material increase
since then, but making liberal al
lowance, it Is apparent that no more
than one-fifth of the amount named
by him could be raised under his
plan. The important objection tc
this proposal. however, is that it is
unfair and undemocratic. Fort.
untely, Congress is not likely to
take Mr.. Marsh seriously.
New-York tribune., 1918-06-11
Market Barometers
Stock Exchange transactions

Bonds
Day Year
Yesterday. before. before.
U. S. gov.$4, ,s7e, 900 $2,54s.oo
Railroads 3e5,00O 10000 $4,000
Others 491,OOO 975,oO0 1,448,0O0
All bonds 100000 $4,000 2,166,0oo
The Bridgeport times and evening farmer., 1918-06-26
SUGAR RAT|ONINC ORDER ISSUED BY
 FEDERAL BOARD
Public Consumers and Dis tributors to Be Placed on
 Certificate Basis.

New York, June 25-By the terms of the. new sugar rationing order, is sued yesterday by the Federal Food Board at the instance of the National Food Administration, every public consumer and distributor of sugar will be placed on certificate basis effective July 1. This step is taken to provide means of enforcing the regulations, something that was lack ing in the sugar reducing orders is- sued a short time ago.
 Under the earlier rules Mrs. New York was requested to limit herself to two pounds month person in her household while her country sis ter was allowed five pounds. The new order makes no such discrimina- tion. It makes the allotment three pounds a month a person, but asks every housewife, whether city or rural to limit herself to this amount as a patriotic duty.
 The private householder, unlike the public onsumer'-meaning ho- tels, restaurants, boarding houses or factories-wil1 not be placed on 9 CSI LlACdL6 DcSlS uIllGSS IlOT 1dHllly, III cluding servants, contains twenty-five or more persons. Boarding houses and all other public eating establish ments will be limited to three pounds to every ninety meals served, which is at the rate of three pounds per cap ita a month.
 Effective July l." the new order reads, "all public consumers of sugal are hereby informed that sugar dis including the retailer will be by cer- tificates signed by the Federal Foo5 Board. The certificates will be ready for issue July 1.
 "The certificate plan includes re- liners of sugar wholesale and real stores, hotels and restaurants, club! and boadding houses, and every fam | fly in which there are twenty-five ol more persons. This includes em ployes of households whose meals ar' served by the employer. The allot on the basis of three pounds for ever, ninety meals served. There will b. no certificates issued to individua consumers.
 While there will be no rationinl of households is, household will not be put on certificate basis the board wishes every housewife t know that it is absolutely necessar that none shall use more than thre pounds a person a month. The boar has entire confidence in the patriotism of American housewives.
 "As regards wholesalers, whereve necessary interim certificates will b issued to replenish stock before tn retailers certificates pass throug their hands.
The Bridgeport times and evening farmer., 1918-06-26
OVERNIGHT TRIP TO DEVILS MOUTH
 NEXT SATURDAY

The '. M. c. A. mixers will take an overnight trip to Devils Mouth, Sat urday afternoon, leaving the Y. M. c. A. at o'clock. An overnight hike was made to this same place a few weeks ago and the fellows liked it 50 well that plans have been made for a second trip.
 Devils Mouth is located on the Saugatuck river about ten miles north of Westport. It is a beautiful spot with it's waterfalls, high cliffs, and thickly wooded banks. It makes an ideal camping place.
 The party will leave at p. m., go- ing by bus nearly all the way to Devils Mouth. Each man will bring a blanket as the fellows will sleep on the ground under then open sky. The 'rbunch' will return the following day, hiking from the. camp to West port and then taking a bus or trolley to Bridgeport. On the other trip the party hiked both ways, walking 25 miles within A hours and with but little sleep at that.
 The evening camp fire is the natural social center and after the supper the fellows gather round and tell various i experiences. There's nothing in the world like a camp fire to make a fel- low reminiscent.
 All Y. M c. A. members are par i ticularly welcomed to join the party Ibut anyone who is a lover of the simple life" is invited to go along with the crowd. The entire cost of the trip will be $50 for each man. This will provide for carfare and two meals at the camp.
 Anyone wishing more detailed in-
 formation concerning the trip to
 Devils Mouth, will please phone R. G. Kennedy at the '. M. c. A.