davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1918-05-15
Produce Exchange
Acts to Dispose
Of Flour Surplus

The New York Produce Exchange
Yesterday appointed special commit
tee to work in cooperation with the
Federal Food Administration for the
purpose of relieving the situation in
the cornmeal, rye and barley wheat
markets, which are glutted. Although
prices have declined rapidly. it ia still
impossible for handlers to dispose of
the large. surplus.
Inc following statement was given
out at the New York Produce W.
change yesterday: cat the request Of
the Grain Corporation of the United
States Food Administration. the presi-
dent OF the New York Produce Ex-
change has appointed the following
committee for the purpose of reliey-
ing, if possible. the situation in corn
meal, barley and rye Aour. Those
wishing to dispose Of any Of these
products should state the following:
Quantities. grade and brand, cost and
price desired. You are earnestly rea
quested to give this immediate atten-
ton, reporting the same to the com
nittee, now located in the Trade and
Transportation Office on the exchange
floor. The committee consists of ii. J.
Greenbank, chairman; II. Galbraith. r.
Q; Sherwood. II. L. Sweet and II. w.
Giadwin."
New-York tribune., 1918-05-15
Fresh Poultry-Dressed

Turkeys. In barrels, dry picked.
young toms, average best, 30@3lc;
young hens, average best, S2@33c;
poor, 25@28c; old toms, 3O@32c.
Chickens.-Fresh, boxes, dry packed,
Western, milk fed, heavyweights.
shaggy, 2S@31c; corn fed heavy
weights, shaggy, 27@30c; in barrels,
dry packed, Philadelphia and Long ISL
and, fancy broilers, 8 to A lb to pair,
SOC; nearby, squad broilers. 2 to 2h
lbs to pair, 75cW$l; Western, dry
picked, milk fed, heavyweights. staggy,
26@29c; corn fed, heavyweights,
shaggy, 25@2sc; fowls. fresh, boxes,
dry packed. Western, 4S to go Tbs snd
over to dozen, SIC; SO to az lbs, 36e;
fowls, fresh, barrels, iced, dry picked,
large, prime, 35c; scalded, large, prime,
Sac; old cocks, sfresh, dry packed, II 70
box, dry picked, No. I, CSC; in barrels,
dry picked, No. /, 2sc; scalded, 2eg
27c; spring ducklings, Long Island, ID,
42c.
Squabs.-Prime, white, to 10 lbs
and over to dozen, per dozen. $2.7b@
$3.50; dark, per dozen, s1.5o@$2; culls,
per dozen, 75cM$1.
New-York tribune., 1918-05-15
Corporate Returns

Sinclair Gulf Corporation.-The an
nual report for the year ended Decem-
Der 81, 1918, shows net earnings of
$4,710,478. After general and admins
trative expenses of $113,725, reserve
for taxes of $466,797 and interest on
bonds and notes of $515,718 were de-
Quoted. the balance amounted to $3.-
614,238. Miscellaneous income totalled
$93,035, bringing the total income to
3,707, ,273. Depreciation and depletion
of properties amounted to $2,613,996,
leaving balance for the year of ST.
093,277, which is equivalent to $1.53
per share on 1882 outstanding shares
of no par value.
New Orleans, Texas & Mexico Rail-
road: The company reports gross
earnings for March of $696,289, com
pared with $542,485 for the correspond
ing period of 1917. Net after taxes
totalled $265,840, against $162,440 for
the same month of last year. Surplus
after charges for the month amounted
to $211,470. Gross earnings for the
first Quarter of 1918 were $1,958.913.
compared with $1,708,228 for the CORE
spending quarter of the preceding year.
Net was $665,46s, against $602,334 for
the same period of the previous year.
Surplus for the quarter totalled $517,-
232.
New-York tribune., 1918-05-15
Produce Markets-Current

Butter.-Receipts were 9,16S pack
ages. Creamery, higher than extras,
per lb., 47@47hc; extras coz score),
ASH @463kc; firsts (SS to 81 score),
433s @46c; seconds (83 to 81 score),
S83a@42Ac; thirds, 35@37,sc; cream
cry. unsalted, higher than extras, 49@
49hc; extras, 48@48hc; firsts, 44h@
47hc; seconds, 41@44c; state dairy,
tubs, finest, 46@46Mc; good to
prime, 43@45hc; common to fair,
36@42c; renovated, extras, 10000;
firsts. 3S@38hc; lower grades, S4@36c;
imitation creamery, firsts. 35@35 Nc;
ladies', current make, firsts, 33@34c;
seconds, 31h@32c; lower grades, 30@
Sic; packing stock, current make, No
!, 81 @32c; No. 2, 30@30Azc; lower
grades, 27@l292c.
Cheese.-Receipts were s,0s2 boxes.
State. whole milk. fats, held, specials,
colored, fb, 25h@26c: white, 24h@
2bc;' average run, colored, 24@25c;
white, 23h @24c; fair to good, 22@23c:
lower grades, 16@21c; fresh, specials,
colored, 23c: white, 23c; average run,
eolored, 22922hc; white, 22@22h Nc;
lower grades, 0h@21hc; twins, held.
specials. colored, 243s @25c; white. 24@
24Ec; average run, colored, 24@24Ac;
white, 23Ac; fresh. specials, 22ltc; av-
erage run, 22@22Ac; single daisies,
fresh, 24@24Ac; double daisies, held,
New-York tribune., 1918-05-15
Elections


!. w. ]. Moody has been elected ass'ss
ant treasurer of the Erie Ksi'l0's
company. Mr.. Moody for numoe.. ~ y
wears has been connected VITA W
treasurer's Office. ~
:. Harry Payne Whitney and y. NJ.
Dahl, vice-president of the Cnase s.ssrs M
.ssional Bank, have been elected disee.ss.. .se
of CASTOR, Williams & Wigmore' 4
succeeding W. II. Williams ana :. =
Wigmore, resigned.
Bertram Cutler has been eieer. on.
director of the Missouri Pacine 80
way Company. succeeding Carl oi =.
The other retiring directors wess
elected. -
James N. Wallace has been e Ys,-
\ director Of the ST. Louis 4 San
cisco Railroad Company. succeeolns.
D, Levy. The other retiring me
of the board were reelected.
At meeting Of directors OK the "a ~
caeo & Northwestern Railroad ano - =.
Chicago, ST. Paul. Minneapolis 9 oms1
Railroad, Marvin Hughitt Vas e1s
chairman Of both bsaxdA -
New-York tribune., 1918-05-15
Cotton Spindles Were
Actiue in April

WASHINGTON, May IA. - Cotton
consumed during April amounted to
544,5b9 running bales, exclusive of
linters, and for the nine months end
ing April 3oth, 4,944,792 bales, the
census bureau to-day announced.
Last year in April 552,244 bales were
consumed and during the nine month
period 5,o61,16o bales. Cotton on
hand April 80 in consuming establish
ments was 1,S07,055 bales, compared
with 2,033,356 last year, and in public
storage and at congresses, 2,S43,553
bales, compared with 2,5OS,411 year
ago.
Cotton spindles active during April
numbered 33,746, 9S3 compared with
SO, ,26S,615 a year ago. Imports dur
ing April were 21,157 bales compared
with 29,a6S last year. Exports amount
cd to 217,So2 bales. including linters,
compared with 271,753 year ago and
for the nine month period 3,691,115
compared with 845,SS1 last year.
New-York tribune., 1918-05-15
Kansas City Southern Report

Operating revenues Of the Kansas
City Southern Railway for the CAL
endar year 1917. according to the an
nual report made public yesterday,
were $13,547,487, compared with SILL
289,324 earned in 1916. Although there
was an increase of $1,689,665 in op-
Grating expenses and taxes operating
income amounted to $4,490,163, and was
still $568,498 ahead of the figures for
1916. Last years surplus before
deducting interest charges, rents,
ETC., was S4,795,258. Fixed charges alb
sorbed $2,171,115 and $4,000 was paid
out in preferred stock dividends, leav-
ing IN "a 81 surplus Of 78a,14s: 81 equivalent
common stock, compared with 1894 a
share earned in 1916
New-York tribune., 1918-05-15
Gary Interprets Wilson


.: H. Gary. as chairman of the com,
mittee on steel and steel products of
the American Iron and Steel Institute
yesterday issued the following: "The
War Industries Board has confirmed
this committees Interpretation of
President Wilson's announcement of
December %, 1917, viz, that all de-
liveries of iron ore, pig iron, bar iron,
steel and steel products made on and
after April l, 1918, under contracts
entered into on and after December
%, 1917, shall not be invoiced
ut prices higher than the max
imum prices in effect at time of de-
livery, as specified in President Will
sons announcement of March ,27, 1918.
1t is hoped that all buyers and sellers
of any of the above products will be
governed by this ruling"
New-York tribune., 1918-05-15
News Digest
Foreign

Trading in London Restricted
LONDON, May IA Business on the
Stock Exchange was restricted to-day
pending military developments. Gilt
edged securities and home rails were
firm on the prospects for cheaper
money, and Japanese bonds were easier
and mining shares quieter, with oc-
casional profit taking. Mexican rail-
ways improved as the outlook in Mexico
was viewed more favorably. Shipping
stocks were irregular and the other
groups without features. Money was
ir moderate demand and discount rates
were quiet.
Paris Bourse Quiet:-PARIs, May IL.
Trading was quieter on the Bourse
to-day. Three per cent rentes brought
So francs rs centimes for cash. Ex-
change on London sold at 81 francs 16
centimes. Five per cent loan brought
81 francs IS centimes.
New-York tribune., 1918-05-15
Ind IL 8 strials
Metals

Conditions in the copper market yes
terday we're unchanged. Some contracts
were made with consumers who ex-
pressed willingness to pay whatever
price is set by the War Industries
Board on deliveries after June /. While
no change was noted in the price for
lead, the increase in inquiries seems to
presage another advance in the near
future.
Current prices for the principal
metals, compared with those prevailing
a year ago, follow:
Current A year
price. ago.
Pig iron, Bessemer,
Pittsburgh ......... *$36.15 $44.95
Copper, electrolytic, lb *.23H .32H
Tin, lb. .............. 1.05 .65A
Lead, lb. ............. .07 .10H
Spelter, East St. Louis,
lb. ............... .o7A .osA
*Government prices.
New-York tribune., 1918-05-15
= Commodities F..

25@25hc; fresh, 23h@24c: w;..m
sin, whole milk, fine to fancy. tw;r.
colored, held 24@25c; fresh. 2aES
221hc; single daisies, held, coiore6 y
M25hc; double daisies, held. calo,.s
25@25hc; white, 24024hc; fresh. az
M24c; Young Americas, fresh. 2sE3
24c; state skins, held, twins and Asss
specials, 1S@19c; fresh, flats. specisis'
17M1714c; prime to choice. nX6
16hc; twins and cheddars, spee;sis
17M17Ac; prime to choice, ilX6
16Rc; fair to good, 11@14c: low,
grades, 4M10c.
Eggs. - Receipts were 1881 ea...
Fresh gathered extras, per dozen. M
@38hc; storage packed firsts. Ma
37hc; regular packed extra frsta. n
@37hc; regular packed frsts, S5x@
36kc; seconds and poorer, 33h@asr.
fresh gathered dirties, No. /, stons,
packed, 331zc; regular packed, 32K@
33c; No. and poorer, 31@32c; fresI
gathered checks, good to choice, an.
30@31 nc; undergrades, 25@29c: STATE
Pennsylvania and nearby Western
hennery whites, fine to fancy, 40@l2e:
ordinary to prime, 38@39c; gathered
whites. ordinary to fine, 38@40c; West
ern and Southern, gathered whites. 36H
@38hc; state, Pennsylvania and nearby
hennery browns, 39@l40c; gathered
brown and mixed coiors, 36@37hc;
duck eggs, 29045c.
New-York tribune., 1918-05-15
Minerals. Co. To Appeal

Henry D. Williams, counsel for the
Minerals Separation Company, an
nounced yesterday that an appeal
would be taken to the United States
Supreme Court. Cali the judges in
their recent opinion" said Mr.. Will
iams, "gave careful consideration to
and elaborate quotation from the opin-
ion of the Supreme Court in the case
of Minerals Separation, Ltd, agt. Hyde.
There is no breath Of suspicion against
the validity of the company's pat
ent. The difference of opinion as to
what the Supreme Court meant fur
nishes excellent ground for taking the
case at once to the Supreme Court of
the United States, and the plaintiffs
will promptly apply for a writ of GER
tiorari, judgment being suspended
meanwhile" 1t is not expected that
dividends on the Butte & Superior Com
pany's stock will be resumed until the
litigation arising from the use of the
Minerals Separation patents has been
finally adjudicated.
New-York tribune., 1918-05-15
New York

Delaware & Hudson Stockholders
Ratify Government Contract. - Stock
holders of the Delaware & Hudson
Company at the annual meeting yes
terday voted to ratify the roads con-
tract with the government, as provided
for by the plan of Federal control.
The retiring board of managers was
reelected. Over so per cent of the
stock of the company was represented
at the meeting either in person or by
proxy. Owing to war conditions the
luncheon which has been a feature of
Delaware & Hudson annual meetings
for over generation was dispensed
with.
Michigan Central Notes Paid or
To-day-The $6,O0O,o0O loan made to
the New York Central by the Central
Trust Company at the request of the
railroad administration, it was learned
yesterday, will be used to pay off
the greater part of the $8,00O,00O one
year per cent notes of the Michigan
Central maturing to-day.
New-York tribune., 1918-05-15

The above rates express the cost of
foreign money in terms of the Ameri-
can dollar. You buy an English pound
sterling at, say, $4.757s. The intrinsic
parity is $4.869s 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
than the demand in this country for
pounds with which to settle accounts in
England
New-York tribune., 1918-05-15

Finance Economics
WALL 81 ShEI oFflC Telephone:
Mills huhong' 10 oroao o1. Hanover

Speculative interest in the stock
market suddenly switched to the
railway issues yesterday, which, on
the largest turnover in months,
registered gains Of l to points.
Transactions at the> exchange again
exceeded million shares. Activity
and strength in the railroad depart
ment contrasted sharply with the in
creasing irregularity in the price
movement of the industrial shares,
which plainly showed the effects of
heavy profit taking sales after an
early display of strength. Traders
bought the railroad stocks mainly
because of the announcement over
night that Director General Nc
Adoo is working out new schedule
of railroad freight and passenger
rates which will show an in
crease amounting to approximately
'25 per cent. This was accepted as
assuring the railroads fair compen-
sation to offset the higher costs of
operation when the carriers are re-
turned to private control after the
war. OF course, under the present
state of government control the
government will be the chief bene
ficiary from the proposed increase
in rates.
New-York tribune., 1918-05-15
New Loan Plan Starts To-Day

The plan agreed upon between
Stock Exchange firms and Clear
ing House banks providing for two
distinct rates for call money will go
into effect to-day. The only change
from the practice already in vogue it
the rates each day on the floor of the
exchange. 1t has been the custom of
brokers desiring call loans on purely
industrial collateral to pay an extra
half of l per cent above the rate for
loans on collateral dividend between
railroad and industrial securities.
New-York tribune., 1918-05-15
Stock and Bond Averages
Relevant Comment
Proposed Rate Rise Booms Rails

Railroad stocks were more active
yesterday than at any time since the
big rise in the closing days of last
December. The turnover in the rail
road department totalled 424 600 shares,
out Of aggregate transactions of l.
179,6OO shares. In Reading the turn :
over was $1,000 shares, and New
Haven, one of the principal features
of the market, showed dealings of
200 shares. From the action of the
rails, as compared with the industrials,
it looked as f'many traders sold their
industrial holdings and bought rail
.Ao
New-York tribune., 1918-05-15
Livestock, Meats, Provisions

Following arc yesterdays prices. compared ~
these OF year ago:
Yesterday. Aysu ~
Live steers. beat.
100 ID $500 @$i7-20 Si0.3S 8Sia@
sidG. 4b ..... .is q asa rs Q M
Live veals. best.
100 Id .......ti.60 q 1880 ti.00 q AS
Dressed veals,
Live ewes 100 lbii.oo O. 1875 500 3 IlM
Lambs fair to
primo, 100 lb. so q 100 i4.50 ~
Dressed mutton. ID $500 .Q16 .i5 g ~
Dressed lambs. ID .26 q 80 AZ q
Hogs. 100 ID. 1870 q 1850 1900 q saD
Dressed hogs ba- ..s
con. ID ....... .26 q .26M .20s4 siT
Mess pork. Dbl. $3.50 q $500 400 q 49,
Mess beef. bbl. 90 q $500 3i.C0 y ~"
Lard. Md. West. "a
lb ............ .24.65e q 24.55c 23OOo q Ss.e
New-York tribune., 1918-05-15
Money and Credit

Conditions in the call money market
were fairly easy yesterday, with the re-
newal and ruling rate standing un-
changed at 4 per cent. The high rate
Tor the day was per cent.
Brokers reported little change in the
time money situation. A few loans
We're made for sixty to ninety days on
industrial securities as collateral at 6
per cent and some thirty-day loans
were placed on 5% per cent basis.
There is still widespread demand for
time accommodation at these rates. with
the supply limited.
Ruling, rates for money yesterday,
compared with year ago, were as
follows:
c.,, non.u Per cent. Per cent zf
Time money (mixed collateraD:
Sixty days. g. 1905
Ninety days. s........ 6 1905
Four months. ...... 6 1905
Five to six months. 6 434@5
Commercial Paper.-This market was
quiet yesterday, with limited amount
Of prime paper moving at per cent for
four and six months maturities.
OVAU ~ 0OutU AuleTlC6s-GOIQ coin TO
the amount of $4,000 was withdrawn
from the SubTreasury yesterday for
export to South America.
London Money Market.-LONDON
May 14.--Money was quoted at 2h per
cent. Discount rates were: Short
bills, 81 per cent; three months bills,
1915 per cent. Gold premiums at
Lisbon were 1870.
Bank Acceptances.-The market for
bank acceptances continues active, with
9 large demand for eligible bills coming
from both local and out-of-a town insti-
tutions. Rates were unchanged yester-
day, as follows:
Thirty Sixty Ninety
Spot de- days. days. DAYS.
livery: Per cent. Per cent. Per cent.
Eligible
mem Der
banks: ). .4s@4 4A@4ls 4a@4a
r Eligible
non-mem-
ber banks.4l4@41a 4ss@44 4,s@4A
Ineligible
bank bills.sl4 @4s4 t4@4s4 sM@4sl
For delivery within thirty days:
Per cent
Eligible member banks. ........ AZ
New-York tribune., 1918-05-15
Michigan Central Notes Paid or
Other Cities

Controller Requests Bank Reports
WASHINGTON, May IA. = The Con-
troller of the Currency to-day issued
call for statement Of the condition
Of national banks as Of Friday, May 10.
New-York tribune., 1918-05-15
Cereals

Wheat.-Weather conditions over the
country we're again very favorable for
the new wheat crop. A crop expert
who has recently covered the surplus
wheat states said that he believed pres
cnt prospects for large crop were ex
ceedingly favorable, as stooling has
been perfect, with the plant strong,
with broad leaves and not thin and
spindly like last year. He also said
that though it is too early to forecast
final figures present indications would
seem to point to a crop of 600,O00,000
bushels of winter wheat as conserva-
tive estimate. The movement of wheat
at Western points continues moderate,
and the trade is now pretty we'll salts
fed that little is to be hoped for in
the way of improvement. The crop in
France is much better than last year,
also applies to Italy and number of
other of the European nations.
COrn.-The corn market displayed a
very nervous undertone and throughou
the day fluctuations were feverish. The
May position showed much firmness
and closed within 1sc of the fixed maxi
mum pA'ee, OuI Ine idIe IhonInS were
weak and final prices were at the low
est, with net losses of 1Ac to &c.
The weather was looked upon as ideal
for planting operations, which will
soon be again in full swing after the
recent rains. The question of seed
corn appears to be less serious than
was intimated a short time ago. Re-
celpts at Western points we're moderate
and Western cash markets showed a
steady tone. in some cases being from
sc to 10c higher. The cash situation
in the East, however, was weak, and it
was said that New England was trying
to sell corn in transit at prices con-
siderably below the quotations existing
in the West.
Yesterdays Previous Year
Corn No. yellow s1so s5s's' s1ss fs'f s7s aS9
Chicago:
saiy %iy .....::::::: '' 1:22sN 17::22sN 1as 1as% 1884
oats.-The action of the May posi-
tion in Chicago caused early frmness
In the oats market, but subsequently
an easier tone developed and final quo
tations were Il to Bc net lower. Fears
of congestion caused May shorts to
cover freely early in the day and at
one time that position sold at 76Ac,
or 1Ac net higher. Exporters have
Deen out or the market now Tor
more than two weeks and show little
| disposition to make purchases. 1t was
said that export requirements for May
and June have been very materially
reduced.
Yesterdays Previous Year
New York: close. close ago.
Corn, No. 3 white. .85 .85 .77I2
Chicago:
NAY NAY ~............. ~ 5ssA So .ss ssm ss
Rye.-Market weak.
Yesterdays Previous Year
New York: close close e1o.
Cash. No. West. :. .s2.1e s225 $3.50
Flour and Meal.-Quotations we're:
Yes'day's Previous Year
New York: close. close ago.
Flour. Mimi. spe pats11.oo s11.oo $3.50
Rye flour. choice. $50. 1895 1890 1875
Cornmeal. yellow. gran 4.75 800 $3.50
sKiln dried
New-York tribune., 1918-05-15
Good Crop Outlook
Makes Cotton
Prices Decline
Census Report Shows Do
mestic Consumption Is
Comparatively Light

Beaming optimism regarding crop
prospects made cotton prices decline
from 80 to 108 points yesterday. The
belief that better weather was coming
in the South was a dominant motive
for the renewal Of general selling on
the Cotton Exchange. Another factor
was the publication of the census re-
port, which, confirming private studies,
showed that the domestic consumption
Of the great Southern staple was COM
paratively light.
July contracts broke to $3.50, making
decline of SO points from Mondays
close. and of $8.70 bale from the high
level of last Friday. Closing prices
were at the lowest point of the day,
with the tone easy.
The market was irregular at the
opening, first prices being 8 points
higher on May, with other months 6
to II points lower. The cables were
lower than due, the weather map made
a favorable showing and there were a
few May notices in circulation. May
soon broke in consequence, the general
list selling about 68 to 78 points net
lower during the middle Of the day.
There were then rallies of 80 or 40
points on covering. Otherwise, brokers
found few buyers around the ring, and
the market weakened again, reaching
the lowest levels of the day'in the late
trading.
The talk of an increased carry-over as
compared with last year has been gen.
eral for some time past, and naturally
strengthens the effect of any favorable
new crop development. Uncertainty
seemed to be felt as to the showing
of the weekly report from the Weather
Bureau to-day. which may have ac-
counted for covering at the decline,
and a moderate trade demand was re-
ported on the late break. Southern spot
markets as officially reported were un-
changed to 60 points lower.
Yester- Day Year
New-York tribune., 1918-05-15
Mr.. Wigmore's Resignation

The announcement that William A.
Williams and j. A. Wigmore had sold a
large proportion of their stock and re-
tired from active management in the
exporting firm of CASTOR, Williams &
Wigmore, Inc, caused much discussion
in Wall Street yesterday. Mr.. Wigmore
explained that the principal reason
why he resigned was to liable him to
devote more time to his private inter-
ests. He has large real estate holdings
in Cleveland, and is developing large
ranch in New Mexico, on which, it is
said, he has already 1000 head of cat
tie. At the Office of CASTOR, Williams
& Wigmore, Inc, it was said that Mr..
Wigmore "retains substantial inter-
est" in the CORPORATION.
New-York tribune., 1918-05-15
spurt In All Railroad Stocks

The Street made bull argument out
of the announcement that Director
General McAdoo is preparing to in
crease railroad passenger and freight
rates approximately 25 per cent. That,
of course, explained the great burst
of activity and strength in the rails.
New Haven, for example, rose from
365s to 40A. New York Central
jumped from 73 to 75h. Union Pacific
from 1241a to 1861, Northern Pacific
from 871a to 80, Atchison from IS to
86A, Erie common from 15A to II,
and Erie first preferred 81 1a to 35.
New-York tribune., 1918-05-15
The Dollar in Foreign Exchange

Neutral exchanges continued to dis
play strength yesterday and Swiss
francs sold to 410 for cable transfers,
new high record. Rates on Italy were
somewhat frmer, with lire recovering
to 900 for checks. The rest of the mar
ket showed little change.
Closing rates yesterday, compared
with a week ago, follow: