davidaulloa/AmericanStories huggingface dataset:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-07-07
No Bargain Prices
For Railway Rra;rs

once the government took over the
railways there has been much talk
ABOUT drastic reductions of the salaries
OF the higher officers. The prospect
OF such reduction has been regarded
with apprehension by officers Of all
ranks who naturally have felt that
drastic reduction of the higher sal
arles would deprive ambitious men Of
urge prizes to work for, and that it
.:lght also practically compel reduc-
ZION OF the salaries of many officers of
.o"er rank. The railroad administra-
J.; ;loe mas not announced the policy it
is following in fixing salaries, but the
salaries fixed have leaked out in sew
eral cases, and definite information
which The Railway Age" has indi-
cafes that higher, and in some cases
lnuch hlgner, amounts are going to be
PAID than have heretofore been expect-
ed. 1t would appear that the admin
lstratlon is finding that in the matter
OF salaries, as in the matter of wages.
1T must meet competition if it is 20.
ing to keep good men in the service.
~ mas peen exposed to competition
from other industries which are en-
gagged IN war work and from the rail
way companies, which naturally have
vice to deal with the railroad admin
lstratlon. In consequence, while no
dehnlte figures can be published it
can be said that doubtless so long as
the railroad administration continues
to recognize the fact that it is essen
tial to efficient operation that it shall
have able mem in important positions
there will be numerous larg. prizes in
railway service for ambitious men to
work for; and it would appear that so
long as the present director general
is in charge the fact that brains and
experience are necessary to efficient
operation will be recognized. General
ly speaking, however, Federal mana
gers probably will not be paid as r,uch
as railway presidents have been, and
many former presidents who are &C
cepting the appointments as Federal
managers have to make financial sacri-
fees to do so.-Railway Are.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-07-07
The Dollar in Foreign Exchange

In the absence Of any marked change
in day-to-day rates, the local foreign
exchange market has been interested
during the past week in discussions be-
tween the Federal authorities and ex-
change experts of the leading banks
here over the position of the Spanish
exchange. On Friday a conference was
held at which Fred I. Kent, director Of
the foreign exchange division of the
Federal Reserve Board, met foreign de-
partment representatives of the vari-
Gus banks. While no announcement
was made as to the results accom-
plished at the meeting, it was asserted
confidently by the foreign exchange
men that programme had been laid
out which would undoubtedly solve the
difficulty.
I, 1t is hoped that under the plans that
are now in the process of formation
which stands at As per cent In Spain,
will be greatly reduced. Spanish
pesetas are quoted in this market at
around 271z cents, compared with q
normal exchange value of 1913 cents.
The suggestion was made last week
in one quarter that the Treasury De-
partment send representative to
Spain, Switzerland and the Scan
dinavian countries to see whether
it is feasible to support the Amer
lean dollar in those countries by
the use of Treasury funds. A Chi
cago dispatch calls attention to the fact
that the whole question is very diff
ficult one, involving as it does fine
points of diplomacy and requiring for
its success a sympathetic reception of
any proposals that we might have to
make by the neutral countries to which
they are addressed. The multiplicity
of export and import regulations, trade
restrictions of every kind and the lack
of ocean tonnage are the chief diff
cultles to be overcome.
Further improvement was noted in
Italian exchange rates in this market,
lire bills rising at one time to the high
est price in months. The steady re-
covery of lire in the course of the past
month is due to the working of the
emergency machinery set up and put in
operation for the express purpose of
stabilizing the lire rate.
If you calculate the cost of the dol
lar in terms Of foreign money at par
value-that is, if you we're buying dol
lars with pounds, marks or francs-its
value at the close of last week, as
compared with year ago, would be
about as follows:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-07-07
News Digest
New York

Auction Sale of Acknowledgment l..
Kennedy will conduct on July "a, next.
a sale Of the property rights, fran
chises, leaseholds, interests, ETC., of the
Central Crosstown Railroad Company
Of New York, which has trackage in
Twenty-third Street, Avenue A, Broad
way, Seventh Avenue, West 18th Street.
Christopher Street, Eighth Street, and
other crosstown streets. The sale will
be at noon at the real estate sales
room, 14-16 Vesey Street The sale is
by order of the Supreme Court in the
foreclosure suit brought by the Guar
anty Trust Company Of New York, as
trustee, VS.. the Central Crosstown Rail
road Company of New York, and others.
The Trust Company brought the suit
as trustee for bondholders, and the lien
under which the sale will take place is
$3,545,43 and interest.
Little Board" Makes Report.-The
annual report of the Consolidated
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-07-07
Copper Consumers
Object to War
Board Price Rise
Claim Latest Advance Will
Be Unjust in Affecting
Existing Contracts

Large consumers Of copper will meet
Tuesday next to discuss the effect of
the increase in the price of the metal
from 231a to 26 cents a pound. The
advance was authorized by the War
Industries Board on July 2. The lower
price has been in force by authority
Of the government since September
last. Several important companies en-
gagged in the manufacture of copper
products had contracted to sell at the
price prevailing before July 2, and hold
that if they are forced to pay copper
producers 26 cents pound they will
be subjected to unjustifiable hardship
According to one of the largest con-
sumers of refined copper, the new
agreement with the government should
be changed to conform with the old
price in cases where contracts with
users of brass tubings, VIKINGS, etc.
we're made without allowance for such
a price advance as the War Board has
just ordered.
The plea Of the refner for greater
remuneration, 1T was announced yes
terday, has been met by some mining
companies Dy voluntary increases IN
the tolls, although it is argued that
the 2z-cent increase does not cover
the increased cost of production. It
is roughly figured that retiners will
get about one cent pound more: the
government, through the railroad rate
increase, will get another cent, while
the remaining half cent pound will
not fully cover the higher wages eff
fective and soon to be paid by the pro-
ducers.
Producers are hopeful, however. that
when the present price schedule ex-
pires on August IL the War Industries
Board will Offset the higher costs of
production by another small increase.
II shall be greatly surprised" said
one producer yesterday, "if on August
Is a still higher price-probably 27
cents-is not named. although it was
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-07-07
Rail Chiefs Not Hopeful

Railroad executives, representing the
companies in negotiations with the
government, hold out little hope that
the proposed form of contract to be
presented to them at meeting sched-
uled for July II will be acceptable. A
new draft has been prepared by Judge
John Barton Payne, general coun-
sci for the railroad administration
Judging from guarded statements of
officials of the corporations concerned,
no important concessions have been
made by the governments representa-
tives since the general meeting on
June 5.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-07-07
Other Cities

WASHINGTON, July 6.-State insti-
tutions admitted to the Federal Re.
serve Bank system to-day include the
Peoples Savings and Trust COMPANY
Akron, Ohio, with resources of s4,4Os-
900, and the Dime Savings Bank Com
pany, of Dayton, Ohio, with resource
of Sc 536 600
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-07-07
Peace Will Bring Recovery
Check to Prohteerinp

Profiteering in the United Kingdom
by dealers in agricultural or diary i'm
plements will hardly be possible for
awhile. Since the first of this month
sale or delivery without permit of such
devices, except when bought directly
from the manufacturer has been pro-
hibited by the Minister of Munitions.
Sellers are limited to 1711, per cent
profit above net cost when the price
of the implement exceeds $195.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-07-07
Republic Steels Condition Sound
Mailing Stock Advances

*111I01 10e1l1 11d1t11Ig ITISI PTeIeTreu
stock advanced 2h points to 48 yester-
day following the announcement of the
plan recommending the liquidation of
the company's assets because of rapid
spread of prohibition. eve believe"
said the committees statement, chat
if the company is promptly liquidated
a greater value will be realized than
could be expected if the business of
the company should be continued or
than is reflected by the present market
price of the stock"
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-07-07

Stock Exchange for the fiscal year jus.
ended shows total sales of railroad and
industrial stocks amounting to $751;
989,O24. While less than the turnover
of 1851. the sales of 1876 were
exceeded by more than 1000 shares
J. Frank Howell, president, says in ths
report that by concerted effort he be-
lieves members can realize $4,000
each for their seats.
Mercantile Bank Has New Office
The Mercantile Bank of the Americas
announced yesterday the establishment
Of permanent quarters at Rambla de
los Estudios and Canuda Street, BARGE.
Iona, Spain. The bank extended its
foreign service to Spain in January,
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-07-07

A new record In tho hank clear
ings was established In June, the
returns sho wing an increase Of 81
per cent compared with the CORE
spending month last year. But the
figures do not, as might be sup
posed, indicate that the volume Of
business doing was larger this year
than last. On the contrary, when
considered in connection with other
things, they strongly suggest the
probability that the turnover has
materially decreased. Differences
in the price level account in large
measure for the increase in clear
ings; in fact, it is practically GER
tain that had goods been exchanged
this year at the same prices as pre-
vailed in June, 1917, clearings
would have decreased. Moreover.
this years figures include transac-
tions arising out of the largest tax
payments in history, as well as
heavier payments on Liberty bonds
han were made the year before, and
here must, therefore, have been a
ecrease in ordinary exchanges, since
therwise there would certainly
eve been a large expansion in
Earrings, even allowing for a lesser
gree of speculative activity.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-07-07
Lumber High In Germany

Prices of lumber OF all kinds have
risen to astounding heights in Ger
many, according to the Berliner Borsen
zeitung. 1t is difficult to keep flying
machines factories supplied, so scarce
IS wood. Ash sells as high as $219
thousand feet and alder at s1o7.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-07-07
Money and Credit

Surplus reserves Of the Clearing
House banks decreased $145,47S,44o
last week to $26,493,240. The large
reduction was due to the heavy with
drawals of United States government
deposits, which fell from $500, $40 900
to 1856, 54o, 900 during the course of the
week.
Loans and discounts of the banks de-
creased $15,466,000, while net demand
deposits decreased $9S,210,O0O.
The actual condition of member
banks shown by the Clearing House
statement yesterday follows:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-07-07
Relevant Comment
Savings Banks Show Anxiety

Members of the Savings Banks Asso-
citation of this state are showing con-
siderable anxiety over letter sent
them by that organization urging them
to subscribe for bonds of the fourth
Liberty Loan up to an amount equal to
per cent of their deposits, whether
the issue bears interest at the rate
of 4A per cent or Az per cent; to
lie as much as possible of the amount
so subscribed and to take for their
own account the unsold difference. 1t
is stated that if this plan is adhered
to savings banks would take in the
neighborhood of S120,0O0OOO of the
next war loan. Subscriptions to the
third Libery Loan from savings bank
totalled $59,716,700. Doubling of this
subscription, according to savings bank
officials, will require considerable
shifting of investments which may
prove unsafe under present security
market conditions.
Republic Steels Condition Sound
Republic Iron and Steel established
new high price for the present move
ment in yesterdays short stock market
session when it sold at "a. In the May
rise the stock advanced to Sc, or with
in quarter of point of the high for
all time reached in 1917 Buying in
Republic is said to be based on the
theory that less than $40 a share has
been disbursed on the common stock
since dividends were started, leaving
an estimated surplus equity of S110
a share accumulated since January /,
1917. The company's statement cover
ing operations for the second quarter
of 1918 is expected to show large in
crease in earnings over the first quar-
ter
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-07-07

stated that claims as to cost oe.oa
by the copper men were cons;6ero 81 Gu
Commission" d Afaoe
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-07-07

The above rates express the cost of
foreign money in terms of the Ameri-
can dollar. You buy an English pound
sterling at. say. s4.75ss. Tho intrinsic
parity is $4.S6s per pound. Thus you
say either that pounds are at dis
count or that dollars are at a premium,
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. [volume] (New York [N.Y.]) 1866-1924, 1918-07-07

The changes from a week ago:
Loans and discounts. Dec. $15.466, 900
Cash in vaults of Fed
eral Reserve mem
bers .......,... Inc. 4,525. 900
Reserve in Federal Re-
serve banks. Dec. 1922, 900
Reserve in vaults Of
state banks and trust
companies Dec. 1858, 900
Reserve in repositories Dec. $4,000
Net demand deposits. Dec. 98,21O,0OO
Net time deposits. go. Inc. $4,000
Circulation Dec. $4,000
Aggregate reserve. ... Dec 15s,e97 900
Excess reserve..... Dec 145,478.44
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-07-07
Consolidated Exchange

Unit of trade on shis exchange, 10 sharsl
Transactions and prices yesterday for ths
more active shares follow:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-07-07

Discount Ratcs.-Tne following table
gives the current rates of the twelve
Federal Reserve banks on commercial
paper on ali periods up to ninety days:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-07-07

ecreaSe IN ordinary exchanges, since
herwise there would certainly
bve been large expansion in
Earrings, even allowing for lesser
gree of speculative activity.
Whether or not the increase OF
cents pound in the price fixed
copper Will stimulate production
debatable question. Some cop
producers say that it will not,
the reason that the increase will
ely suffice to meet higher freight
les, smelling charges and labor
SITS. But in any event it should
trest, at least temporarily, the de-
Ilining tendency, and that is impor-
ytant. According to reliable reports
Ia large number of high cost mines
: have been forced to suspend opera
! tions in the last three or four
months owing to rapidly rising
: costs, and it seems certain that this
/. marginal output would have been
= still further reduced had the price
: remained at 231s cents. The loss in
: output in the first half of the cur
rent year, compared with the cor
responding period of 1917, was, it
is estimated, at least 100000
pounds. Coming at a time when
stocks had been drained to a mini
mum by the unceasing war demands
of the last three years, further re-
duction in output might prove a
serious handicap in our war pro-
gramme, or if not that, it might
easily cause unnecessary embarrass-
ment to industries which, while not
directly engaged m war work, are
still important. Apparently the
War Industries Board does not re-
gard favorably the proposal that
prices be fixed for the different
producers on the basis of costa
plan which would insure maximum
production. Possibly it has found
the difficulties in the way of
arriving at fair cost figures insur-
mountable, though mining engi-
neers of standing assert that &C.
.curate figures could be readily OBJ
tanned.
It is reported that a movement
is under way to put labor engaged
in gold mining in deferred class
in the draft, to secure preferential
treatment Of gold mining companies
as to taxes, and to obtain from the
government bonus over the pres
ent mint price for gold. This raise.
an interesting question. At frs
thought it might seem desirable tt
increase the output of gold as much
as possible in view of the demand:
upon our credit structure, but we
might easily pay too high price
for such an increase in the form Of
decreased production of copper
steel and innumerable other com
modities required for war purposes
If gold mining were thus encour
aged, competition for labor woulc
become keener than ever, and hig}
cost producers of the basic metals
would almost certainly suffer tn,
loss of part of their working forces
We can win the war without NOR,
gold, but steel and copper in gen
erous quantities are essential.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-07-07

Douh ClcATlnRS yes
terday in New York and other cities
were:
Exchanges. Balances.
New York $500, 1897 800 $55,653,0 6S
Boston ....... 51,745,34O 4,839, 1907
Sub-Treasury.-The banks gained
from the Sub-Treasury yesterday
$437, 900.
Silver.-Bar silver in London was
4S7sd, unchanged; New York, 99hc,
unchanged; Mexican dollars. TIC. un-
changed.
Bank Acceptances.-Rates were un-
changed yesterday as follows:
Thirty Sixty Ninety
livery: Per cent. Per cent. Per cent.
gible
banks. :. .4A@4 4A@4h 4h@4A
E gible
Der banks4I4@41s 4A@414 475@4h
I n eligible
bank bills514@4a4 5I4@4s4 5I4@4s4
For delivery within thirty days:
Per cent.
Eligible member banks ........ az
Eligible non-member banks..... ~
Ineligible bank bills. 8
London Money Market.-LONDON
July 6:-Money was quoted at 8 per
cent. Discount rates were as follows:
Short bills. 31a per cent; three months
bills, 3 9-16 per cent. Gold premiums
at Lisbon stood at 100
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-07-07

Closing rates yesterday, compared
with a week ago, follow:
Quoted dollars to the pound.l
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-07-07
" Wealth Markets and Commerce
Federal Reserve Banks

WASHINGTON consti
tuting the Federal during the
The the
062oO The condition of the
twelve banks tho night follows
Abilene weekly reflector. [volume] (Abilene, Kan.) 1888-1935, 1918-09-05
at $3.50 A. N.

Enrolment of all students in
Chapman and vicinity will be Friday
and Saturday. September 18th and
14th, all other students Monday
September 18th.
Entrance examination Friday and
Saturday, September 18th and 14th,
beginning each day at 9 a. m.
Approved by the Federal Govern
ment for Agriculture and Home Eco
Monies.
Fully approved by North Central
Association, State educational insti-
tuions and state Board Of Education
for al lother courses. Plan to at
tend the Dickinson County High
School for the coming year.
Abilene weekly reflector. [volume] (Abilene, Kan.) 1888-1935, 1918-09-05

For sale, 1917 Buick Six, 5-pass-
enger, in good condition. DR.. Harry
Bennett, phone 278. 277dwtf
Good barn for rent one block from
high school. See S. R. Cowan. wt1
See the R. & P. Republic three
pillow, and Lawson four pillow demon
stration of Tractor. Call at the Oak
land Place and we will take you to
the field. 400-402 N. Broadway
E. Coulson, Abilene, Kansas d-wtf
Marriage licenses: Charles Bar
niger of Junction City and Bffie
Habbock of Lebanon; Geo. w. Bar
Der of Abilene and Nina Lantz of
Abilene.
A. R. O. Holstein bull, two years
old, for sale Emil Anderson, En-
terprise. 3ld1w2
An examination for postoffice
clerks and carriers will be held at
the postoffice in this city on septem-
Der 2S. The age limit is ! s to As
years.-H D. Focht, secretary.
Wanted, girl attending high school
to help in homework for part board
and lodging. modern home. near the
high school, Abilene. Telephone
352. 2td-1tw
Edgar Anderson is moving from
Abilene on to the Robt. Anderson
place east of Enterprise. He gave
up driving the oil wagon some time
ago. VIM. Greenwood, who vacated
this place. is moving on to the Sny-
der place three miles southwest of
town.
Abilene weekly reflector. [volume] (Abilene, Kan.) 1888-1935, 1918-09-05
RECENT REFLECTIONS.
Watch the Fords go by. 6dwtt
Ais Well With the Maxwell.

Watch the Fords go by. 6dwtf
Ais Well With the Maxwell.
For sale, one ton International
truck in first class condition. 4O7 E.
Fourth. Phone 173. 9dtfwtf
H. L. Peterson, deputy county
treasurer, has purchased the Paxon
residence on West Fourth street and
has moved in with his family.
For sale, seven-room house and
bath, on paving modern and in good
repair; three blocks from high school.
Address IT,, care Reflector 4t1Odt3w
For rent, so acres. mostly river
bottom, improved; Will rent for two
years; can be put in wheat this fall.
G. B. Clemence. 4d2w2*
For sale, milk route and 4 good
mich cows. Dick Walters. 4-1d1w
fOT SAFE, OuS OOOi AhS NOiN DANN0-
in good repair. Call phone 1904.
q r. Atkinson. 3-d2t-wtf|
For rent, so acres of wheat ground
IA miles west of Talmage. Phone
235. Stld-ltW
Found at Santa Fe depot, last
week, lady's handbag, with some
money. owner can get same at Re-
feector office by describing same
and paying charges. 26-d2t-w2t
S. C. White Leghorn ROSTERS for
sale Mrs. H. e. Cormack Solomon.
Phone Acme 1908. 29-w2t*
For sale cheap, 5-passenger tour
ing car, practically good as new. In
quire 2O5 East Enterprise street.
Phone 475 dtfwtf
Alfalfa seed for sale, $500 and
$3.50 per bushel. Clean of weed
seed and first class termination
guaranteed. Seed at Minich & Tay-
lor. C. M. Carver. d-tf-w-tf
Abilene weekly reflector. [volume] (Abilene, Kan.) 1888-1935, 1918-09-05
BANKS TO
MAKE REPORT ON CONDITION

Washington, Sept. 4.-The comp
troller of the national currency today
called on all national banks to make
a report of the condition of the banks
on Saturday, August 81.
Abilene weekly reflector. [volume] (Abilene, Kan.) 1888-1935, 1918-09-05
Suing for $500

The ]. l. Case Threshing Machine
Co. filed suit in the district court
against B. F. Crowl and John VAIL,
asking for $500, for which the plain
tiff claims is due on three promis-
sorry notes. Mr.. Wahl resides at
Elmo and was one of the signers of
the notes.
Abilene weekly reflector. [volume] (Abilene, Kan.) 1888-1935, 1918-09-05

A. c. Dietz of Chapman was in
town on business.
7. V. Prendergast is here from
Paola for a visit with his parents.
Mr.. and Mrs J. T. Prendergast.
Mr.. and Mrs. N. E. Basket OF Lex
ington, Mo, visited at the w. II.
Kverill home on their way from Dem
yer to their home.
Abilene weekly reflector. [volume] (Abilene, Kan.) 1888-1935, 1918-09-05

picnic and watermelon feast The
food for the evening was all accord
ing to Hoover The second enter
tainment was its regular meeting and
all had an enjoyable time. After
the business meeting, Mrs. Taylor
served delicious luncheon.
Abilene weekly reflector. [volume] (Abilene, Kan.) 1888-1935, 1918-09-05
ABOUT PEOPLE.

Roy Gatz ana Henry Fralie and
son returned to Victoria, Kan, after
a visit at the P J. Grove home east
Of town on the Detroit road.
Paul Since returned from Hill City
after week Is visit with his sister,
Mrs Jason Griffith and Mr.. Griffith.
Abilene weekly reflector. [volume] (Abilene, Kan.) 1888-1935, 1918-09-05
FAIR FOOD PRICES
Prepared by the Local Board OF the
U. S. Food Administration.

Prices being paid by the retailers
for the staples named and the retail
prices which they sould not exceed
are as follows: