davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1918-08-04
Telephone
Hanover 65iA

the exchange market WAS imperce ptible.
Pesetas showed some weakness be-
cause of the knowledge in banking cir
cles that efforts are being made TO
stabilize the rates on Spain through the
negotiation Of loan. There is grow
ing tendency OF foreign exchange ex-
perts TO agree that the value Of the
dollar in all neutral markets can be
stabilized by the use of credits. Al
though there Is no indication Of an ex-
tension of official activities in this d.
rcction at the present time, bankers
be to straighten out the exchange sit
uation With Switzerland and then per-
haps with Holland and the Scanda-
navian countries.
The efforts of the Italian Institute, In
conjunction with the Federal Reserve
Board, to improve the value of the lra
in this market gained new success this
week, and the present rates on Italy are
the highest over period of six months
Checks yesterday moved from 500 to
7.so. and cables from 7.99 to 7S9. For
egn exchange men who were long on
lira bills this week were unable to buy
new ones, as the Institute, through
which all orders must be placed, keeps
close survey on all the bills out
standing.
II you calculate the cost Of the dol
lar in terms OF foreign money at par
value that is. II you were buying dol
lars with pounds, marks or francs-its
value ct the close of last week, as COM
pared with a year ago. would be about
as follows!
New-York tribune., 1918-08-04

want to keep their mines to keep the
experimenting politicians out.
So, to stop political pressure on Con-
gress. the coal men have tried to take
care of the householder.
On anthracite they have "acknowl-
edged" mot accepted - the orders.
Every one wants anthracite. Rels-
lively few will get 1t. Still, those who
have Acknowledgements" are clingin9
to them as though they were something
precious. In many states they will
mean nothing more chan q bitter dis
appointment
Those who were willing TO take btu
minous and pay for it have received
their coal. They are out Of tho way.
Those who want coal, but have not
the money 70 pay, have had their or
ders accepted to be filled later
l asked one county fuel administra-
tor what percentage Of the retail coal
had been delivered. He looked up his
reports from retailers and found that
those for April had not yet been sent In.
Tie didn't know. No. ono does. But,
comparing this year With the normal
year, am safe in saying that by oc-
tober Is fully 65 per cent OF next
winters house coal will have been de-
livered. That puts them practically out
Of the way.
1t is not SO with the users Of steam
coal. The non-essential factory, so
called, has been warned that In time Of
shortage he will get only what Is left
after all others have been satisfied
such factory owners arc not fools.
They knew that the time to get coal for
next winter was during the summer.
when it was to be had. U am not
speaking Of the East here, but of the
country as whole.) They bought and
stored when they could.
New-York tribune., 1918-08-04
$239, 9,451,900 Liberty
Bond 4s Converted
N. Y. Federal Reserve Bank
Statistics for Period Up
to August I

The Federal Reserve Bank yesterday
announced that s239. 900 Of per
cent Liberty bonds had been converted
into az per cent bonds in this district
up to the end Of July. The issues sur
rendered include converted bonds Of
the first issue and the bond Of she sec-
ond Liberty Loan. The statistics made
public show that the holders of bonds
of large denomination have been more
quick to exercise their conversion priv-
lege than the holders Of the smaller
denominations. Following is q table
showing the record Of conversion up
to Inly 81.
New-York tribune., 1918-08-04
Oil Prospects at Taiwan

According to reports from the MI
kado's realm. party of oil experts
and navy men are at Taiwan and pros
pccting oil fields. Two promising
fields are said to have been discovered
md the government, it is understood,
will use M fuel for the Japanese
navy oil which may be developed there.
The Nippon Oil Company is assisting
in tho investigation.
New-York tribune., 1918-08-04

The above rates express the cost of
foreign money in terms OF the Ameri-
can dollar. You buy an English pound
sterling at, say. s4.75S5. The intrinsic
parity is s4.S6as per pound. Thus you
say either that pounds are at dis
count or that dollars are at premium,
which is owing to the fact that in Eng
land the demand for dollars with which
to settle accounts in this country 10
greater than the demand in this coun-
try for pounds with which to settle &C.
counts in England.
New-York tribune., 1918-08-04
Sweden to Stop Dist;ller.

After October l next spirituous
liquor will be scarce in Sweden. All
potatoes and grain in that country are
needed for food, and the government
has forbidden all spirit manufacture
after the date given. Wine merchants
and restaurants will have to depend
upon importations~ for supply. as the
reserve stock is small.
New-York tribune., 1918-08-04
The Dollar in Foreign Exchange

The volume Of dealing In foreign ex-
change continued 10 be relatively light
during the last week. No important
place and fluctuations In rates were
narrow. Except for the hrmness of
7sanss. tho effect Of tho war news On
New-York tribune., 1918-08-04
Higher Pay, Less Work

Henequen production in Yucatan will
be only about 100000 bales this year,
it is estimated. Last year the crop
amounted to 100000 bales of fibre.
Labor is hard to get, as plantation
workers now get so much more in
wages that pay for two or three days
Will support q person 4 week.
New-York tribune., 1918-08-04
Venezuelan Revenues

Venezuelan revenues for the nses
year to end with June, 1919, giil toss
sS,629 800, 1t is estimated. Custom.
and consulate receipts are hgurssa "a ~
$3 555 $50. cigarette taxes at 81 Ooi,ss.s y.
and the salt monopoly at sl,ooi'oV,
also. These are the largest three "
ceipt sources.
New-York tribune., 1918-08-04

hected In much lesser degree the al.
most stagnant condition OF the general
list. This was due. it is asserted, to
the continued investment demand from
tne small investor. There was about
20 per cent more buyers Of small lots
than sellers. Buying orders again
averaged slightly larger than selling
executions.
New-York tribune., 1918-08-04

In statement accompanying the
figures the bank says: at is hoped
that the holders of the smaller denom-
nations, especially the b0s and zoos,
will not neglect to exercise their right
of conversion during the summer, as
such right terminates definitely on No
vember 9, 1918"
New-York tribune., 1918-08-04
Money and Credit

The New York Clearing House banks
increased their loans and discounts
$13.2 900 last week to total of
s4,394, $4,000, according to the state
ment issued yesterday. Aggregate re-
serves decreased $11,928,o00. Surplus
reserves decreased $17,151,520 to $685.
$4,000. Net demand deposits Of the
banks increased S39 9,522, 900 to s3,615,-
e4f.ooo during the week. At the c.ose
OF business yesterday United States
government deposits with the Clearing
House banks aggregated $3s9 1856, 900,
agsirst $424, 1858, 900 the previous week.
Bank Accep<ances.-Rates yest.rdsy
were unchanged, as follows:
Thirty Sixty Ninety
spot de- days. days. oAyA.
livery: Per cent Per cent. Per cent.
E 4. gibte
banks: .4"@4 4n@4M 4a@4M
Ell igib'a
Der b.nk..4A@4a 4ss@4n 4ss@+a
sligihie
bank bill. sM@4s< sN@4M sMe4M
For deliv: :ry within thirty da,,s:
Per cent.
Eligible member banks A[
Eligible nor-member banks. ~
Ineligible bank hills.
Discount Rates-Ths following table
gives tho current rates Of tho twelve
Federal Reserve banks on commercial
paper on all periods up to ninety days:
New-York tribune., 1918-08-04
Looked to Garfield
For Fuel Supply

The railroads, il the country 10 to
be in a safe position next winter.
should have stored at least half a mill
ion tons of coal day during The sum-
mer. That would have given them coal
next winter. Also, instead Of using
railroad cars to haul railroad coal thev
could have been used to haul CONNER
caal coal l get reports every day from
Almost every part Of the country. II
the railroads have stored any large
amounts of coal have not heard of IL
put 100000 tons as the outside limit.
And so it would be possible to 90
through the list. Those who have been
designated as Essential users" of coal
and who have been guaranteed a full
supply have lost interest in the coal
question. They have turned the Job of
supplying them over to Mr.. Garfield.
saying "let Harry do it,
Mr.. Garfield did not intend T. What
way. He was merely preparing for
some emergency which might come
later He was merely instructine his
supordlnates beforehand what to do
when they ran into an emerpercv
lhese essential coal users looked upon
1t as declaration in paternalism. and
unourdened themselves of the coal
question to the almost complete nm.
doing of Mr.. Garfield
with these facts in mind. Il 20 oh
V'ous 1hat the country has drifted into
another muddle. The householders--
please read this in the sense il :. ~
tended--have been given NOR. zoo,
than' under the circumstances. tbev
shouId have. In vast majority ~
cases the luxury of too manv ROOM.
heated to too great temperature will
an no sense be modified The railroads
spent SO much time begging for a
preferred price they are practicable
without coal reserves. and must move
coal next winter when others should
be getting it. Non-essential plants
nave been oversupplied merely because
essential plants would not take coa,
when they could get it. (In the Mid
die West know of greenhouses which
already have a full years supply To-
day makers of pleasure automobiles :,
Michigan are getting stocked I'M an
coal because munitions plants in tho
West are not buying). And 80 the
story runs.
Meanwhile, the whole country IS
brought face TO face with an ,nt,rs,y
new situation. "The London Econo.
mist" has just printed statement
that the army has been forced to cal,
'o'ooO miners to the colors. This will,
strip England Of 100000 tons of
possible coal production. 1t will throw
England in g position where she car
barely meet her home demand and
supply France. That throws Ita,v
virtually upon America as the onlv
remaining source of coal supply. That
Is an obligation We dare not sb;rk
we did 1t once, and the result was a
grave disaster. We dare not do !.
again.
Also, the South American cron will,
have to be harvested next winter II
VIII have to be moved to tidewater
America must supply the coal for TIM.
movement or ship the food itself from
this country. We may choose between
New-York tribune., 1918-08-04
Up to Miners,
Uncle Sam SAYS

And, when you come down TO the
point Of It, the railroads have improved
until they can carry all the coal that
can be turned out. The operators have
the mines to produce far more coal.
But the miners aren't working. Thus,
Uncle Sam, with his back to the wall, is
looking at the miners. saying, "It is
up to you"
Five years ago. confronted by a SIM
liar situation, the coal operators would
have been at the mines doing some
plain talking-which I shall not repeat
here out of respect for the sensibilities
Of the readers. But to-day. The op-
orators are actually organizing a stump
speaking campaign and are combing the
earth for thrillers who can lay on the
"sob stuff" and palaver. They are or
ganizing this sort Of work the way an
oldtime political boss would get to-
gether a machine. Everywhere there
are committees and captains, lieuten-
ants. and 50 on. The coal trade ia
maudIin.
At another time this would be funny.
To-day 1t Is terribly serious. For in
stance:
Every operator, jobber and retailer
got the impression that the householder
had to be protected If he wasn't there
might be more pressure on the Con-
sressmen. the same as there was last
yenr Another Congressional assault
might finally dislodge Mr.. Garfield from
his job. And if that happened there
would be only one other possible step
the government would seize the mines.
The President has that right. All he
has to do Is to exercise it.
Coal men fear that. They do not
want to operate their mines. 1t is too
hard work. So they are not hanging on
1or selfish reasons. But some Of them
have been through "mine squeezes"
when the hole in the ground closes be-
cause something wrong was done. All
the others have heard about it. Every
operator is deathly afraid of his own
mine. He would like to pass it ON to
some one else to run. But if he did the
squeeze" would come. That would
lose the nation, one, two or five thou-
sand tons of coal day. The operators
New-York tribune., 1918-08-04

Bank CeaTings- Bank elearings In
New York and other cities were as fol-
lows.
Exchanges. Balances
New York -. $3.50 oe9 o5s $6o,4e, .0s8
Boston ....... 48.646,549 6,410,111
Sub-Treasury. - The banks lost
s4.238.000 to the Sub-Treasury yester-
day.
Silvef.--BaY silver in London was
. 4stt. unchanged; New York. S9%c,
unchanged; Mexican dollars, TIC. un-
changed.
London Money Rates. - LONDON,
Aug. 3.-Money was unchanged at 3
per cent. Discount rates were: Short
bills and sbrcemonth bills, 1893 per
cent. Gold premiums at Lisbon re-
nained 1900.
New-York tribune., 1918-08-04

| SA'~ SSoA Vk u MHst
larger quantity Of food.
These demands are new. IN. vii
roads did not know about than ~.
they neglected storage. The prot..tss
industries did not know shout th...
when they let slip this GUNNER ~.
opportunity to buy coal. Indeed ~.
new demand makes O bad situst,or =,
most hopeless
Production Shortage
200. 900 Tons Daily
Then there 10 q ncw demand s,.,.
home. AS more OF our boys 10 IA
France they must have more agh.,,s
material to work with. This means
more factory activity and more coal,
Every man who comes out Of Mr. Gs,.
fields office speaks Of some new d..
mand for coal which has Just come IN
The pressure is becoming so x,est a
is maddening.
In frantic effort to make M.
credits equal the debts MFR. Noysa a.
the fuel administration. is asking Cha
people to save coal. One indussr,
after another that never did and neve,
will use much coal walks in and yoluu.
tarily agrees to get along with half
what it used TO have. IN the mean
whiie-I am repeating now the reports
carried to me by engineers who N.
vestigated FOR me--faetory ovnsrs Via
are on government work seys
"Why should I save eoalf The esv.
eminent gives me all want And n
pays the bill, too"
II this waste could be stopped xhs
greater part of che threatsnsd abort
age would disappear.
want to avoid, Il possible. resort "a
long rows of figures which neveY mean
much, anyway. But do want 70 mahs
ono comparison in numerals.
II we take the American coal budysa
az II stood on the last Of June, ina
and clear Of any incresse in dennd
from home sources since and also ffss
and clear Of any new foreign demand
we had to produce 100000 tons d
coal every day for q full year 70 avoi
q shortage.
In only one week since April has
the actual production Of coal equsllsd
100000 tons.
Thus, every day we have fallen
short of indicated demand by at least
100000 tens Of coal. On the average
the loss has been nearer to 100000
tons day.
Meanwhile, the demand has been
growing faster than the productior
Anv one crr ~ v:~-' "r
said, gee where this Is going 70 lesd
Our essential work stands to suffer
terribly.
The insistent cali Is Cor more and
more production Of coal. Yet the pro-
duction committees were not appointed
until early in June. They have not
yet agreed upon q p4u.
the discussion of a programme has
been SO far tinctured by that miasns
of political thought which pervaes
Washington. Coal men are not fight
ing the way know, from long ezps
rience among them. that they knoa
how to fight. They are working VIII wiz
hoods on and their hands tied. STU
it is no ones fault in particular !;
is the result of what I, for want o,
a better expression, call the politics.
sx,d, III
which makes natural men unnatuME
that makes them strut when they TAX;
that makes them walk stiF-legged hs
use Shakespearian language like DIV
actorh of long forgotten school
New-York tribune., 1918-08-04
Relevant Comment
Gold Producers to Confer

conference of representatives Of
leading American gold producing in
terebts is to be held at Reno. New,
August Is, IA and Is to consider the
present condition of the industry. Con-
sideration will be given to remedial
measures for meeting operating costs,
which have risen more than 60 per
cent since the war began.
Me1ican Petroleum Report
The annual report Of the Mexican
Petroleum Company, covering 1917 op-
erations. will be issued to the stock
holders tomorrow. 1t e reported in
Wall Street that the report will show
between $40 and $1l share earned
on the common stock after heavy
charges for depreciation.
New-York tribune., 1918-08-04
Mexican Petroleum Report
The Odd Lot Market

According to,a market authority, odd
lot activity in stocks last week re-
New-York tribune., 1918-08-04
BY George III. Cushing,

Editor OF The Black Diamond
~ NE Of the big handicaps to the
coal trade is that 1t has become
~ maudlin under the influence Of
political control do not say, under
stand, that any member Of the fuel ad-
ministration Is playing politics. I do
not even say that any politician Is In
terfering with the fuel administration
although they tried to. It isn't that.
II Is the fact that coal men have lost
their perspective by being thrown in
close contact with the political way Of
thinking.
IT all started innocently. When the
politicians-Mr. Lane, Governor Fort,
Mr. Garfield and the rest---frst came in
contact with coal they knew nothing
about the subject. They couldn't talk
coal to coal men lest they make fools Of
themselves. They avoided the mistake
cf an Illinois politician who had been
reading the riot act to coal men for six
weeks and then asked one Of them what
he meant by "mine run" coal. They
saw then that he was bluffing, and
walked away and left him. Washing
ton didn't duplicate that mistake. The
Washington politicians didn't talk coal.
They talked patriotism. And they kept
this up for several months. 1t became
sickening after while. In the mean
while the coal men had gained their
Point Of view.
The politicians had talked about pro-
tecting the householders. The coal men
gathered from this that the ultimate
consumer was the sacred white COW Of
Washington who must be saved, no
matter what happened to the army.
Washington politicians talked about
not antagonizing labor. Tho operators
counted 100000 noses In the mines and
decided what should be done there to
please Washington.
Mr.. Lane and Mr.. Garfield didn't IN
tend to be taken that way. They
merely mentioned these things because,
at first, they didn't dare talk about any
OLucE pIldSS Ol IIlS OUSluc6S lcSC tiley
display their ignorance. After while
Mr.. Garfield got around to a point
where he could really talk coal. He had
brushed up on the information he had
twelve or fifteen years ago, and could
talk coal fairly~gvell But the coal men
wouldn't gossip with him. They had
picked up new lingo and insisted upon
using every word in this strange, weird
vocabulary.
The result is something approaching
national disaster. We are now at
point where the world is short of coal
and has turned to America to get it.
Uncle Sam has been backed up against
the wall. He must produce the coal or
something serious is going to happen.
New-York tribune., 1918-08-04

Reserve Bank rate 1913 35.73
Below is given the current exchange
value of foreign money IN dollars and
cents, together with the intrinsic gold
parity. az calculated by the United
States Mint;
New-York tribune., 1918-08-04
&A
SSISS
Nation Must Shiver Because the
Coal Mining Industry Has Been
Hamstrung by Political Control

Trade Authority Says That Operators Demoazed by Contact
With the Political Way Of Thinking" Are Relying Too
Much on Exhortation to Get the Fuel That Is Need
ed to Avert Dsaster-Demands Growing
Constantly, While Output Fails to
Keep Up With Minimum
Schedule
New-York tribune., 1918-08-04
G. w. Pope Co.

Our weekly Market Letters p'esMrn s.n
each week the facts as we see I,.;os l.
concerning the investment push"
Of the Sound Unlisted issues ,.d
This letter is sent free on requ.'l
Information of this class VIII ~ d.
help to you. Write US today anu ssr.
will send the letter on trial 10. 'A
months.
No Margin Business Accep'eS
We Inrits Personal lnq'a's
Is Broad St. New York CN
New-York tribune., 1918-08-04

going without the coal or a r,.,
larger quantity Of food.
These demands are new. n. ru
roads did not know about them vh..
they neglected storage. The prot...ss
industries did not know shon& ,,.S
when they let slip this summer IN.
opportunity to buy coal. Indeed Iii,
new demand makes q bad situation Al,
most hopeless
New-York tribune., 1918-08-04

CONDITION OF the member banks shown by Clearing House
th the changes from the preceding week. follows:
New-York tribune., 1918-08-04

Closing rates yesterday, compared
With q week ago, follow:
Quoted dollars to the pound.)
The Corpus Christi caller. [volume] (Corpus Christi, Tex.) 1918-1987, 1918-07-21
PERSONAL MENTION

An ana Mrs. Kyle Drcycr viii re-
turn this morning from Houston where
the' have b"cn living for she past SO,
orpl months. Mr. DreSer rs with the
contingent from Nueces County that
Monday viii ioin the National Army ,
Lieutenant George NJ. Little Is in
thc cit, for visit with his parents.
William Carruth OF ~ Paso Is visit
inr his parents. pr and Mrs. Carruth
Mrs ~ 4 Got,iich and Mrs. Henry
" Schacfier have be,n called ,o
Houston by the serious Illness OF Mrs
toitlich'a daughter. Mrs. G. ". Fat
tersOn
Mrs. H. A. Bocttoher aud daughter
of Houston are among the vacation
lists iu iht cty. stopping at Tie Nucccs
Mr ana Airs Francis b. Sechrisi
have returned from several weeks
vacation spent in Chicago Pittsburgh
and other cities rhey were accom-
panied hume hy MIR Scientists father.
f. IS Sechfist Sr.. OF Spokane, Wash.
who VIII spend several months here.
The Corpus Christi caller. [volume] (Corpus Christi, Tex.) 1918-1987, 1918-07-21
CALDWELL Is NAMED
ON INDUSTRIAL BOARD
SoNernment 10 Obtaining Data Reqsrd
ing All Available Machinery and
Materials That May be Needed

Chairman Gus W Thomasson OF
i'aiias, who bends the Eighteenth In
duririnl Region hes divided Texas into
,hii ~ tiire' districts. T.. II Caldwell
h"tirs been appointed chairman ~
ih' corpus Christi district Including
h"c Live pnk, san Patficia Jim
Wells ana Nueces counties
Inc purpose 81 the organization IL
ip heip win the war hy securing ali
possible Information regarding plaut,
machinery men and material which
can he used in doing any sort Of wort
deemed necessary by IA. Government
Northern ana Western plants and
factories Of every Kind are concested
ana Whatever men and materials Texst
nih supply viii he used profitahh
chairman Caldwell says Will. oii
resources may seem and are. small
they can he mad. tu grow b. ~. IA.
'riotic efforts ~ The commission arc
rightly understood and IN. poopl. win
extend - thsn erfitc o-operattont'