davidaulloa/AmericanStories huggingface dataset:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-12-08
Relevant Comment
For the Fifth Loan

AS a result of meeting at the Bank
ers' Club. it was announced yesterday
that s1so,oo0,o0o of the first instalment
of tie Az per cent Treasury certif-
Gates Of Indebtedness, issued in antici-
patton Of the fifth Liberty Loan, was
taken by the leading banking institu-
tions in this district. There will be
new issues every two weeks until the
spring, when the certificates will fall
due and payments from subscribers to
fifth Liberty bonds will enable the
Treasury to meet them. A total of
$600,000,000 of the new certificates, it
was announced, has just been put out
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-12-08
Manganese Plant Shuts Down

Advices from Butte. Mont, yesterday
announced the closing down of the
ferro- manganese plant of the Anaconda
Copper Company, at Great Falls. The
reason assigned was that with the end
ing of the war there is no ready mar
ket for the product. The company has
about 1000 tons on hand to supply any
temporary demand. The ferro-man-
ganese mill was constructed by the An
aconda management at the request of
the government, at cost of approx
mately S350,0OO.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-12-08
United States and Britain
To Lead as Money Lenders

WASHINGTON. Dec. The United
States and Great Britain will be the
great international money lenders after
the establishment of peace, diplomats
here declare. France, which in the
past, together with Austria and Ger
many, occupied a prominent position in
the money lending fie d, has been too
greatly impoverished by the war to re-
sumo ler position in the international
financial structure.
Great Britain has been crippled. but
not reduced to point where she viii
be unable to play an important part in
the great money lending game.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-12-08
Fewer Oil Promotions

Forty-six companies, with an agere-
gate authorized capital of s14,7170o0.
were organized during November for the
development of oil and gas resources of
the country, according to a compilation
made by "The Journal of Commerce ,,
This was the smallest total for ar,,
month since September, 1916, and con,'
pared with $42. 1910, 600 in Octohar ,, o'l-
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-12-08

LONDON. Dec. THE British BOARD
Of Trade sgures for November sho"
that imports increased s35 $4,000, &C >
pared with the total FOR the ~
responding month last :ear Tn. IN,
port increases were chiefly in food ana
raw material, though cotton decrease
100000 900. -.
Exports decreased $4,000, notwi,,a.
standing an increase in cotton eextie'
Of s1S.7bo 900.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-12-08

The recommendation on the sub
ect of the cancellation of war con-
Tacts may we'll be read in connec-
ion with the resolution on inven-
;ories. at is in the public interest,""
t says, chat all war orders placed
~ any contracting agency of the
government and accepted in good
faith, whether formally and regu-
arly executed or not, should, upon
cancellation by such contracting
agency, be promptly adjusted and
satisfied as if every formality had
been observed, and when so ad-
iusted the amount ascertained to
pc due by the government should be
promptly paid, to the end that these
funds may be utilized by the indus
sries of the country to speed their
transition from a war to a peace
basis"
1t might not be unfair to con
rlude further that the government
SHOULD make allowance in its settle
nents for changes in the values of
stocks of goods which were ac-
quired by manufacturers to fill gov
eminent orders, now cancelled as
result of the cessation of hostilities.
It seems eminently just that the
Washington authorities protect pro
ducers who went ahead on informal
orders. In the stress of war, many
patriotic industrial leaders set the
wheels of their plants turning on
large government orders which were
informally received by telephone
from subordinates Of the purchas-
ing agencies Of the government. If
a conventional legal Interpretation
is given their contracts they might
be found faulty in some instances
But no manufacturer should be
made to suffer because he waived
technicalities in order that he might
serve the nation with the CELEBRITY
which was so necessary.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-12-08
Money and Credit

Loans and discounts of The New York
Clearing House members increased
$47.355,o0O to s467O 341 geo last week,
while surplus reserves increased &c.
f@5.92o to S706l6,670. according to tho
statement issued yesterday.
Demand deposits increased $53,946,-
coo, amounting to sS,79o,S71 900 United
States government deposits decreased
approximate y S2l GOO 0O0
Fhe statement Of the Federal Re-
serve Bank of New York disclosed an
increase OF approximately $4,000 600
In redlscounts and advances made on
United States obligations. Acccptances
bought amounted to $1O7S82 7O2.
against sl66,732,l2S at the close Of the
preceding week.
Bank Acceptances.--rhc demand for
bank acceptances was moderately
active. Rates we're unchanged, as fol-
lows:
Thirty Sixty Ninety
Spot de- DAYS. days. days.
livery; Per cent.Per cent.Pe- cent.
e ligible
ba pa IS 4is@4 4a@4a 4n@414
< ig b q
non-mem-
Ger haqks.4l4@4la 49s@4M 47s@4a
Ineligible
bank bills.s1a@s 5h@s sn@o
ar delivery within thirty days.
Fer cent.
Eligible member banks. .,,,,.... Afs
Eligible non-member banks. ..... AZ
Ineligible bank bills-.......... 8
Bank Ciearings.-Ban ciearinge yes,
terday were,
New York -. 500. SO 800 s4s,4ieO0i
Baltimore err, 1922 500 1885,
Boston ..,.,,, 49,36O,937 io,sa7,737
Philadelphia. 62,eo2,792 15,27s,bsa
Sub-Treasury - The Bub-TTsasasy
lost $4,000 TO the banks on Friday,
Silver.-~Lordon asfsd, unchanged:
New York, lOlB c. unchanged; MsxisaH
dollars, 77Ae. unchanged.
Discount Rates.-The isa,iSG fabis
gives the current rates OF tho {WeiYs
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-12-08
Corporate Returns
Imperial Tobacco Company, Canada.

Imperial Tobacco Company, Canada.
Net profits after all expenses,
charges and income had been deducted
amounted to ea.524.4s7, an increase OF
sl,169,e6s over the year preceding, Or
binary dividends totalled 81, $40, $50 and
preferred dividends we're s4s1, 300, leav-
surplus was 81 O5S,67a, making a total
surplus Of s2581ale, from which Anal
dividends Of s276,0a5 we're taken, leav-
ing profit and loss surplus Of sa,s11,-
1911, or s9S2,4sS more than the year
before,
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-12-08

by Reserve
Boards weekly follows
RESOURCES
Dec.6. No,.2o
in 33532oScoo
Gold settlement Bonrd) 42249tC0O 395292OOO
with foreign
S772o59ooo
207,3770O0 126541O0O
s613ooo
gold s2oe74o1ooo s2oes213ooo
tender slver,c
Total $2121367OC0 $2203710o0
Bills discountcd Secured by u S.
legations
All other
Bills fought in market 371,506O00 37S341,000
hand.
United
All Other earning assets.
Uncoleced items 650,039000 736328000
pc cent fund against Fed
All other 22,440000 2,309OO0
LIABILITIES
Capital paid Observation-Disclosures. sso3o4ooo ssoo27ooo
Government
Collection
Federal
notes n
liability ....................... saooaooo
All other liabilities 65,5590O0 5449200O
Total liabilities
tiles combined, 495 Last 500
aside
599
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-12-08

The above rates express the cost of
foreign money in terms Of the Amer
lean dollar. You buy an English pound
sterling. say. ct s4.75%. The intrinsic
parity Ia s4ssHs per pound. Thus you
say either that pounds are at dis
count or that dollars are at II premium,
which Is owing to tho fact that In Eng
land the demand for dollars with which
to settle accounts In this country Is
greater than tho demand In this coun-
try for pounds with which to settle
accounts In England
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-12-08

Whatever may happen with the
,eneral level Of commodity prices,
t is practically certain that there
will be sweeping Establishments in
Individual commodities. Some will
% up and others will go down: and
the latter class will, in all proba-
ility, fall those commodities for
vncn the war demand has been espe~
ially keen. The general level. of
nices now stands just 100 per cent
,bove the average which prevailed
.arly in 1914, as shown by Dun's in
lex number. But instances in which
prices have far more than doubled
re numerous. And it happens that
he extraordinarily heavy in
tentories of a number of industrial
companies consist largely in such
commodities. In order that there
night be no delay in the produc-
ion of the things required by the
government, these companies built
Up large stocks Of materials, paying
'ancy prices for what they bought.
f the prices of these commodities
,egin to fall, as may easily happen,
he losses viii be very heavy, in
ONE cases perhaps large enough to
'esult in deficits instead of profits
IN government work. There is much
10 be said. therefore, in favor Of
hat resolution of the Reconstruct
ion Congress, in which it is recon-
nended that amy tax law shall pro-
ride that during present conditions
he taxpayer shall be allowed to
make a deduction from his apparent
profit by way of a reserve for a sub
Iequent shrinkage in the value of
merchandise.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-12-08

j; E. Housman has been elected gem
e p manager of the North American
Pulp and Paper Company. Mr.. Hous-
man VIII take active charge Of the op-
efatlons Of the various properties.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-12-08

London Money Market .--LONDON,
Dec 7.-~Money was firm at per cent.
discount rates were: Short and three
months bills, 1882 per cent Gold
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-12-08
Wealth Markets and Commerce
Federal Reserve Banks

WASHINGTON of the Federal
hand
condition of the
Boards weekly nnunca aAr .asa follows:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-12-08

+. F: Whitmarsh, chairman Of the
coffee. division Of the food administra-
ton, has sold his New York Coffee and
Sugar Exchange seat to Nelson q
sorenson for $1,000, an increase of So
100 over the previous sale.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-12-08

Spencer R. Hill, of Richardson Hill
20 OF Boston, has been elected 3
change. 0'so' tx
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-12-08
Federal Reserve banks on commercial
paper for all periods up to ninety days:
Maturity

The Federal Reserve Bank of New
York has put in force the following
schedul e of redisconnt rates which ap-
ply TO bankers aeceptances: Maturites
up to Is days, q per cent: 16 to 60
Gays. inclusive, AZ per cent; 81 to 90
days, inclusive, d "a per cent.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-12-08
W all Street Items

r Robert E. Herisse, formerly of Dick
gregory & Co., has become assoc;atsS
with the New York Stock Exchanoe
firm of Liggett Drexel. ''a''s'
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-12-08

Nominal.
Below is given the current exchange
value of foreign money in dollars and
cents, together with the intrinsic gold
parity, as calculated by tho United
States Mint:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-12-08

The bondholders' committee of the
American Writing Paper Company an
nounces In connection with the call for
deposits Of bonds under the refundine
plan that over s7,5o0,00o, or more than
two-thirds of the issue outstanding in
tho hands Of the public. have assented
the plan. The time has been extended
to December 20 by the committee.
George 3, Davidson haa been ap-
pointed one OF the receivers Of tho
Pittsburgh Railways Company. succeed
ing James D. Gallery resigned.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-12-08
Cost Of one dollar

Closing rates yesterday, compared
with week ago, follow:
Quoted dollars to the pound.)
Trench and camp. ([Admiral, Md.) 1917-1919, 1918-05-09
CAN7OMEENT TYPES

working development Of sA
welfare workers. the -wiedersbut there's
work Certa
soldiers fostering spirit
at 4 The Kidder
Every in the has be more or less master OF n
selfdefense
valed i whose fat NO. ~
Ladies Classification
BY his ready wit Most
rather beating have pocket the sH end
kidding which sergeant has
him un0tY
darkness unequad By the the whole works
the Spanish nquisiionor Primary Loot
The frst-class kidder degeneEates
Ofener al the
condiments
Kdder! coEnplaina
mck43
kidde8
"G'wan Lunch u
the does e6SA
lively than a general order.
than deSs
laratiOn 1
Conscientious rage2
Barbed
specie nothing KddeF DeY08
lie belt with ammunition and sAooA
eonscientio4
objection hoaT1shme4s
unanwerabie thirty degree heeandtoe ridscule
hdder with wonld
fighting the hddsr The woF
kdder. wit cruel 1t
hurt-draw blood to speak-0r it doesn't qualify.
Trench and camp. ([Admiral, Md.) 1917-1919, 1918-05-09
"A FIRST CLASS SOLDIER"
BY JAMES M. THOMSON
Publisher OF the New Orleans Iteam

A soldiers work h a mans work.
The best men in America are the men
in uniform. Next to these come the
men who would like to be in uniform,
and generally speaking the men in
America who would not be willing to
don their uniform and take a turn at
Il, provided they are fitted for q SOL
diers work by health, age and train
Ing. are not real Americans and are
not worth very much.
For nearly twenty years have been
employing other people. I don't be-
heve that there is one Of these men
who would not have been better OF
and better man for a soldiers train
ing. For military life teaches a man
self respect, it teaches him to take
orders and obey them and thus Il fits
him to give orders. The only man !
think Of just now who doesn't take
orders and obey some one Is the
Kaiser. and IL he lives long enough he
will learn. Some folks profess to feel
sorry for the boys who are going into
the service and may have to face bul-
let's. The truth of the matter In that
every man who is worth his salt has a
sneaking or open envy OF them.
And ali of us know that the fellow
who 10 unwilling to stand UP for a
Trench and camp. ([Admiral, Md.) 1917-1919, 1918-05-09

One especial bond Of sympathy be-
tween Americans and Frenchmen hes
In the fact that just as the United
States represents and maintains the
republican idea in the Western Hem
isphere, 20 France upholds Il In the
Eastern. Yet Americans in France
will soon be struck by differences IN
the forms and ways Of action In gov
ernment. Not only will they And un-
familiar titles for familiar things. but
they will occasionally ind familiar
names applied to quite different
things.
The President of France, to begin
with, In . very different sort of of1cer
from the President of the United
States. Although he lives In greater
state and Is surrounded with more
ceremony, his actual power is but .
shadow of that of our chief magis-
trate. While the American president
yields the great powers of appoint
ment to and removal from office, d.
reefs and controls the great army Of
federal officers, manages according to
his own judgment the foreign affairs
Of the nation, and urges upon Con-
gress and the country the policies in
which he personally believes, none Of
these things are true of tIe French
President
Cabinet Governs Country
1t is in France the Cabinet, not the
President, which manages the affairs
of the Republic, and even though ac-
ton is taken in the name Of the PreSi-
dent. everybody knows that the Cabi-
net 10 responsible for it. The Pre-
mier is q much more powerful man
than the President.
Nor is the French Cabinet at all
like the American one. 1t is a group.
Of about q dozen men, who are the
leaders Of the Chamber of Deputies
corresponding to our House of Rep
resentativeS) and the Senate, and
who speak for the majority in the
Chamber. The Premier is chtosen by
the President because he can speak
for that majority and because they
viii follow his leadership; the Pre-
mier chooses the other merbers OF
the Cabinet. They stay In oface and
direct the government until the
Chamber of Deputies, by vote, tells
them that 1t no longer approves their
conduct. whereupon they must all re-
sign and let new cabinet take their
place. The Cabinet, therefore, is the
center Of the French Government /:
not, as in United States, q group
which the President may consult but
whose advice he need not follow, but
one which actually Yields the power.
subject to the approval Of Parlia-
ment.
The Parliament Is not unlike our
Congress in its general outlines. The
Chamber Of Deputies is composed o.
COL members, elected by universal
manhood suffrage, each from a dis
Trench and camp. ([Admiral, Md.) 1917-1919, 1918-05-09

cious than money. The amount
awarded to the country was not
placed In the Golfers of the nation
but was held as q trust for the edu-
cation of Chinese students at Amer
lean universities.
These are two incidents in the mill
tary history of the United States OF
which We, the citizens, have reason
to be proud.
In Flanders another chapter has
been added.
We have gone to the relief of
stricken France. We have pledged
all that we have and are. In full
flment of our pledge we have placed
a great army TN the country Of our
Ally. We have ruined fields by our
military operation; have occupied
houses; have RACED forests-all this.
mind you, In behalf of France.
The fields were owned by individ-
ual farmers; so were the houses and
so, too. were the forests. The fields,
the houses and the forests were all
that the French peasants and land
owners had. II the Hun conquered
they would be swept away.
Going to frances aid in an expe-
dition guch 90 we have undertaken
it might have been reasoned that the
burden OF paying for what we seized
would rest upon our Ally. But our
government did mot so reason. Cen
eral Pershing sent to Washington q
request for the passage of legislation
reimbursing everyone whose proper
ty had been taken. To reinforce his
argument, our Field Commander said
that any action short of this would
make our army suffer by comparison
with the British, which had paid value
for value for everything taken or de-
StrOyed.
Action was prompt. The Congress
enacted the needed legislation. But
it Is with pardonable pride that we
who are Americans recall that our
action in the China campaign set a
standard recognised and adopted by
the British. that is thoroughly in
keeping with the high aims we have
proclaimed.
Trench and camp. ([Admiral, Md.) 1917-1919, 1918-05-09

good cause, fight and risk his life. If
need be, 10 a poor sort Of fellow. who
Is not FIT to hold much of a lob anv
where 90 we look forward not only to
the time when the men who are secur-
ing the benefit Of army training win
be In demand for places of RESPONSE
bslity in civil life, but toward the time
when this training will ft many Of
them for taking over the conduct OF
the great Affairs Of the country.
The saying that success needs no
explanation" 10 not altogether true;
but it 10 certainly trwe that the man ia
uniform has no explanation to make
as to how he 10 serving his country.
Most nsSn who are not in uniform feel
even now that some explanation ID
necessary.
In the army % elsewhere there ID
bound to be q difference among men
So a great dead depends On how COED
record man makes 40 q soldier. AL
of my life I have heard veterans oil
the Civil War use the expression In
describing some man ~and he was .
6rst-ciass soldier" In the years to
come that kind Of a recommendation
is going to determine the careers Of
hundreds of thousands of the mer
who are going to run America. And
that is right Tie men who are going
to rum this war right can run the coun-
l try rigfrt
Trench and camp. ([Admiral, Md.) 1917-1919, 1918-05-09
THE GOVERNMENT OF FRANCE
By r. O. BRAAMALL

trict of about 1Oo,0 people. An
are elected at once, for term Of eogy
years. The Senate has 500 membeak
chosen In the 81 Departments q
France by electoral colleges, NEST a
the electors being delegates from TIE
town or commune councils. The 9D&S
atofs serve for nine years, AND >
third Of them 80 out every three
years.
In the actual working of Parliap
ment, however, the American Wf4
find many dilfeHences from that Oh
Congress; and those mainly because
France has not two great national
political parties as we have and %
the British have. Instead, we find n
the French Parliament a dozen litt1
groups, without strong party diseAR
pine, forming and dissolviag eombk
nations to support or to overthrow
Cabinets. Every Cabinet, conses
quently, must represent mot q single
party but q group of more or Ie99
harmonious ones; and that makes &
necessary for a French Premier 70
be a very skillful manager of men
II he is to last very long in ONCE.
Departments Instead Of States
Beneath the National Government
with it's seat at Paris, there are, OF
course, local governments. Francs
has, however, NO States like ours.
with their distinct constitutions
which the central government can
not encroach upon. They are all crA.
ated by laws passed at Paris, and
they are much more closelH directed
and managed. all over france, by
national officers than our local SOW.
ernments are.
France is divided into 81 Deuart.
ments, each of which 10 directed hv
Project appointed from Paris, with
large powers. Each Department a
divided into four or five Districts or
ACCOMPLISHMENTS, and they in turn.
into some eight or nine cantons: hnf
neither OF these plays any large part
IN the Frenchman's life.
At the basis of French Govern.
ment, however, stands the most an
cient OF French units OF government.
the Commune. The Commune cor.
responds pretty much to our town.
ship. 1t may be q town or yilla9e
or city; 1t may be purely rural. 13
may be a few acres, or manv thou.
sand in extent. It may have . hand.
full OF people, or hundreds of thou-
sands. Every one has its mayor ana
its communal council, both directly
elected by all male French citizens
over twenty-one years of age, and
each is vested with the powers which
bring government closest home-tho
care of health, local orders. morality.
local public works and public utility
services.
1t Is in the $4,000 French com
munes that French democracy fnda
it's most permanent expression.
Trench and camp. ([Admiral, Md.) 1917-1919, 1918-05-09
THE HONOR OF THE AMERICAN ARMY

When that grim old warrior, Gen
eral Chafeee, led the American troops
in the China campaign. his attention
was called to the fact that certain
of the Allied troops were looting
Particularly was his attention called
to the fact that astronomical instru-
ments of great value had disappeared
from an observatory.
With all the vigor he could sum-
mon, General Chanfee sent q protest
to the field commander. q German
general. Having been In the field
with the German troops, the Ameri-
can commander probably thought the
direct route was the best. although
military etiquette demanded that the
protest be addressed to the senior Of
ficer present.
was scarcely consistent with the
great powers that they should permit
their men to pillage. But it was a
new line Of reasoning to the Hun COM
mander, who very CURLY acknowl-
edged receipt Of the protest and de-
manded to know why 1t had not been
written In German.
Because Of the International favor
to the incident, the authorities In
Warrington were compelled to ad-
minister . mild rebuke to General
Chafree, mot because Of the stand he
had taken but because his righteous
indignation had led him to such Wig
or0ms statement. But General Chat
Tee was rewarded later with the
highest hOnofs that could be be-
slowed by q grateful government, and
among his pFased possessions for the
rest Of his life was letter from the
then Ytce-President Theodore RoOse-
welt telling him that the Republic
would always be grateful to him. not
alone TOR his achievements bat for
what the American soldiers had not
been permitted to do.
When the indemnities were paid,
the American nation showed that 1t
counted some things far more pre-
Trench and camp. ([Admiral, Md.) 1917-1919, 1918-05-09
CHANGES CONSIDERED

Announcement has been made by
the Quartermaster General that q
number of changes in the uniforms
OF enlisted men are under considera-
ton but no changes are contemplated
in the uniforms Of officers.