davidaulloa/AmericanStories huggingface dataset:
Evening capital and Maryland gazette. (Annapolis, Md.) 1910-1922, 1918-07-12

Our education in ethnography pro-
ceeds apace. Pretty soon nearly
everybody may know what Czecho-
Slovak means.
Evening capital and Maryland gazette. (Annapolis, Md.) 1910-1922, 1918-07-12

The Hebrews in Egypt complained
that they couldn't make bricks with
out straw. The Austrians don't seem
able to make bread without straw.
Evening capital and Maryland gazette. (Annapolis, Md.) 1910-1922, 1918-07-12
FOUND.

FotNn-I.ieense Of an automobile owner
can have same by paying for this adNer-
tiseInent at the Capital Office Jylz-lI
Evening capital and Maryland gazette. (Annapolis, Md.) 1910-1922, 1918-07-12

Before the war the Germans made
the best maps, but we won't have the
maps they are trying to make now.
Evening capital and Maryland gazette. (Annapolis, Md.) 1910-1922, 1918-07-12

All is darkness today. The flowers
whose petals told many a lovers
tale, have dropped their heads
The birds sweet notes who cheered
a traveller on his way, are quieted
The Sun has hidden behind veil of
mist
Tis raining.
Evening capital and Maryland gazette. (Annapolis, Md.) 1910-1922, 1918-07-12

A man has to die to settle the ques-
ton as to whether or not he is an in
dispensable man. and very few men
can stand the tombstone test"
New-York tribune., 1918-02-21
Nicaragua's Coffee Crop

During the year 1917 the quantity
OF coffee produced in Nicaragua for cX-
portation was 21 .837 ,965 pounds, valued
at approximately $4,000 900 From the
port of Corinto l27,1A2 sacks of coffee.
weighing 1868, 1865 pounds were shipped
during the year, largely to American
ports, and there rcmain ON hand of the
1871 crop IN warehouses 20.992 sacks of
coffee, weighing 3,l4S.SoO pounds, dcs-
tined to European ports.
The annual average crop Of coffee is
100000 sacks OF $50 pounds each, or
100000 pounds. The price of pro
duction, according to a consular report,
varies between and 6 cents per pound.
and the export price throughout 1917
averaged cents, small margin of
profit for~the growers throughout Mica
ragua
From the various coffee sections it
is reported that the 1913 crop will ex-
ceed that of 1917 by at least 20 per
cent. Should the forecast be correct
the production in 1918 will approximate
10000 sacks, or 37,00o,oOo pounds.
New-York tribune., 1918-02-21
Steel Industry Is
Slowly Recovering
Operations This Week Esti-
mated at 80 Per Cent of
CAPACITY

Production Of iron and steel is work
ing back into accustomed channels, but
according to leading trade authorities
the process of recovery is slow. By
the end of The week it is estimated
that the industry will be operating at
50 per cent Of capacity. "The Iron
Age" says: Improvement has not
come to mills uniformly, for in East
cln Penns ylvania operations dropped
last week to a 10 per cent basis. and
fuel supplies have since been little
bettcrcd. Increased activity under the
limitations of inadequate motive power
are expected to be only gradual. In
roads have been made on the great
stocks of finished product, which have
blocked mill space for some time. and
general domestic business now waits on
how much mill capacity will exceed
government requirements"
Poor gas coal. "'Thc Iron Trade Re
view" says. has been the cause of a
reduction in open-hearth operations
this week in the Pittsburgh and val
ley districts. from S4 to 81 per cent.
Bessmer plants were SO per cent active,
compared with 81 per cent the preced-
ing week. Byproduct coke plants
have been operated at 81 per cent.
New-York tribune., 1918-02-21
New York Telephone
Earns Less i'm 1917
Company's Taxes Increase
Over $2,OOO,OOO for
the Year

The New York Telephone Company
earned in 1917 balance equal to $l3.lo
a share on the $125ooO.ooo capital
stock, compared with 1881 a share in
1916. The annual report, issued yes
terday, showed total revenues Of S62,-
96l.o0G, compared with $57 ,005,5G5 in
1916. Deductions for taxes aggre-
gated S5,496,626, compared with $3.42O,-
SO the previous year. The balance
available for common dividends was
$16,317, 40, compared with $l7,265, 900
in 1916.
The statement of the New York Tele-
phone Company and associated compa-
nies, operating in the States of New
York. New Jersey, Pennsylvania. Della
ware, Maryland, Virginia, West Vir-
ginia, in the District of Columbia and
in parts of Connecticut and Ohio.
showed combined total earnings OF
sos 800 .S3S, an increase Of s9,54o.4l6
compared with 1916. Expenses in
creased $l1.645, $50 to SIS, ,T66 ,303. Net
earnings aggregated $l9,601 ,575, a de-
crease of s2.lo5,423.
On December 81, 1917. the New York
Telephone Company had 1.443,3SS sta
tlons under its direct operation, an in
crease of S2,2o9. To assist employees in
meeting the unusual conditions obtain
ing as to living costs the New York
company and associated companies au-
thorized increases in rates of compen-
sation aggregating S3,377,7SS, benefit
ting 53.o56 employees. Under the in
stalmcut payment plan offered by the
Eastern group Of the Bell system the
employees subscribed SS6lS5O of the
,Ir
OF the second.
The New England Telephone and
Telegraph Company reported yester-
day a balance available for dividends
equal to $6.7l share on s61,25s.S00
capital stock, compared with s76s a
share earned in 1916 on $55, ,295 300
capital ization.
New-York tribune., 1918-02-21
p. Lorillard Co.
Declares 20 P. C.
Stock Dividend
Company Needs Its Cash Re-
sources for Working
Capital

Announcement was made yesterday
that the p Lorillard Company. for
mer subsidiary Of the American Te-
bacco Company. is TO declare an eHt.a
dividend of 20 per cent in common
stock in lieu Of the usual extra cash
dividend The extra dividend last year
amounted to per cent and two years
ago to per cent. The proposed extra
dividend will call for an increase IN
the authorized common stock, and a
special meeting OF the stockholders has
been called for March u to vote on
the matter.
Thomas J. Maloney. president of the
company, iii an explanatory statement,
said
"The net earnings of the company
for the year 1917 have been sufficient
to Justify the directors in following the
same course and paying a similar or
even larger extra dividend this year.
but as there has been an enormous in
crease in the cost of leaf tobacco and
all materials used IN the manufacture
of tobacco, which necessitates much
larger provision loi NoIhlnS eapi VA.
they deem it for the best interests Of
the company to conserve its cash re-
sources and to omit the declaration Of
the extra cash dividend this April.
"Under these circumstances, the Off
GERS and directors have come 10 the
conclusion that in addition to the regu-
lar cash dividends Of q per cent on
the preferred stock and 8 per cent on
the common stock. payable April i. it
is advisable to declare and pay to the
common stock holders an extra dividend d
of 20 per cent of their holdings. pay
able in common stock of the company,
as soon after April 1 as practicable, in
lieu of the usual extra dividend in
cash
The stockholders Will be asked TO
authorize double the present amount
Of outstanding stock of 151 $50 shares,
only one-tiftb Of which will be needed
to pay the extra stock dividend.
New-York tribune., 1918-02-21
Pressed Steel Car
Plants Are Still
Partly in ldleness
Loss in Profits Attributed
in Measure TO Price
Fixing

Inability to obtain regular supplies
of materials and labor was RESPONSE
Bile for heavy decrease last year in
earnings of the Pressed Steel Car Com
pany, the annual report issued yester
day showing a balance of S1,255,30S
mon stock. This was equal to $40
share, compared with $15.ol a share
IN 1916 The stock sold off 3Ss points,
following publication Of the report.
Gross sales of the company in 1917
aggregated $40 ,034,S44, compared with
S31 ,202,646 in 1916. while profits last
year amounted to s2.43O, ,308. compared
with $3,051,15 the year before. The
balance sheet as Of December 81 last
showed cash on hand of $2O5S,3 COM
pared with 1864, $50 in 1916
f. n. Hoffstot, president Of the COM
pany, in his remarks to the stockhold-
crs referred to the delay in obtaining
deliveries Of steel in 1917, caused by
tho general confusion over the gov
ernmcnt's price fixing programme.
Until the middle OF October,' said
Mr.. Hohstot. "thcre was received less
than one-half the steel plate require
ments, with the result that inventories
were unduly increased to more than
treble in value and double in units. on
account CT large quantities of shapes
and bars coming in regularly without
plates, thus causing additional cx-
pense.
AS soon as tins country entered the
war the company offered its facilities
to the government for making such
material as the plants are fitted to
produce, but its plants have freight
car capacity still open. as the equip
ncnt for manufacturing freight cars
IS not adaptable to the more highly
finished products required for war
work. We have believed for a long
tune that the great shortage in cars
must inevitably result in placing of
large orders and the buildings in which
this equipment is located could there
fore be more advantageously used by
building cars than cmbarking in manu-
iacture OF material involving large
expenditures for new machinery and
difficulty of forming new organizations
for this work."
The company has not yet estimated
its 1917 excess profits taxes. Orders
last year included about 10000 cars at
varying prices. Of the total Of S4A,-
100000 gross sales more than S3O,0O0.-
GOO came from car business. The re-
mainder OF income came from forgings.
she'll and general repair work The
plants are now running at about 70
per cent of capacity.
New-York tribune., 1918-02-21
Distribution of Sugar Crcdi,

While no further statement was
forthcoming from the bankers sugar
committee yesterday it was reported
that in the ALLEGATION of the S!00,00O,-
600 revolving credit to finance the cur
rent Cuban sugar crop New York's
preliminary subscription amounted to
1000, 900, OF which SIT 100000 was
subscribed by cane sugar rehners. An
other 10000, 900 is understood to have
been taken in Chicago, between So
100000 and S6,OOO00 in Boston and
So 900 900 in New Orleans. This leaves
about $4,000 900 to come from other
parts of the country.
New-York tribune., 1918-02-21
Money and Credit

A slightly easter tendency was no
ticeablc yesterday in the call money
market on the Stock Exchange AL
though the ruling rate was per cent
some money was obtained at 5la per
cent late in the day. The closing rate
however, was at the higher figure
Money brokers state that whereas un-
der normal conditions time loans
formed from 50 to SO per cent of the
total borrowings on Stock Exchange
collateral, the proportion has now
dwindlcd to between l5 and 90 per
cent. In other words. current dealings
on the exchange are carried largely
through call loans.
Ruling rates for money yesterday.
compared with a year ago. were as fol
lows:
New-York tribune., 1918-02-21
Dollar in Foreign Exchange

The decline in Italian exchange went
iurther, the rate falling to S77 for lire
checks. London continued as a SELLER
ct lire bills here. Other exchange rates
sho" no important change. Russian ru-
bles were steady in the face Of the news
from Pctrograd and Berlin
Closing rates yesterday. compared
with week ago. arc given in the table
below. American bankers have sus-
pended all dealings in German and Aus
trian exchange. so that daily quotations
tor either marks or kronen are no
longer available.
New-York tribune., 1918-02-21
Money Pool Still On JOB

Reports that the money committee,
which was organized in connection
with the last Liberty Loan campaign
10 stabilize call money rates. had re-
Gently dissolved we're denied at the
Federal Reserve Bank yesterday.
James +. Curtis, deputy governor,
stated that the committee was still in
existence and had 10 intention OF dis
solving. The banks. Mr.. Curtis said,
are reporting to the committee weekly
instead Of daily.
New-York tribune., 1918-02-21
New York

Stock Increase Planned According
TO an announcement made by Charles
Miller, president of the corporation, the
Galcna Signal OIL Company viii in
crease its capital stock from sl4 900 900
to $4,000, 900. The financial arrange
ments have already been made OF the
new capitalization of 10000, 600 only
$4,000, 900 viii be issued, the remain
ing s6,000.oo0 being left in the treasury.
New-York tribune., 1918-02-21
Gulf States Steel Earnings
Increase Over $1,5OO,OOO

States Steel Company for 1917. accord
ing to preliminary figures made public
yesterday, amounted to S4,199.925. an
increase of 81 ,549.919 over the previous
year. After deductions for deprccia-
ton and reserves for all taxes. the net
income was $2.SS2,176. compared with
80 452.510 in 1916.
New-York tribune., 1918-02-21
Cities Service Company
Gulf. Mobile & Northern
Detroit Edison
Dividends Declared

American Gas Company. Reguia, qua
terly dividend of per cent. payable Mafeh
TO stockholders of record February ~.
California Packing Company. ResuS
quarterly dividend of 30 cents per snare "
the common stock. payable March 10 10 s'o..
holders of record February y: also, tne ~
ular quarterly dividend OF Sl.., per snare y
the preferred stock. payable April 20 S'V''
holders of record March 70.
Gulf State; Steel Company. Regular qua,
terly dividend of = :. per cent on the con''nO. '
stock. payable April l to siocknolders Of .,1.d ~
ord March lo also. regular annual ol'iu.,Is ,I
Of per cent Oh the first preferred anu
per cent ON the second preferred, pas
April I to stockholders Of record Maroh & 4
JUly | to stockholders OF record ..r. jun a.
October u TO stockholders OF recoro SspSS ss,Ssrt
Der u and January .. 1919. 70 s'oeh'0''N''
of record December IL. ~
Haywood Bros. & Wakefield. ,seml.asly.sl -sss,.s
dividend of 50 per share on the prsls'f ,Sas,
stock. payable March to stockholders V
record February -. J..
Laclede Gas Light Company- kesps ~
quarterly dividend of u. per cen' ." ~.
common stock. payable March 10 10 s''''
holders of record March !. -
Mackay Companies. 49, Regular ouai'.., =,
dividends OF ! per cent on the PREF ils '..,.bs
u per cent on the common stocns' pasa
April to stockholders Of record MAre"
MergenthaIer Linotype Company. neg
quarterly dividend OF y per cent. - fe.h
March , 10 stockholders Of record "ais'
National Enameing & Stamping.
tcriy dividends Of ~ per cent pss".sr ps.r
March - to stockholders of record Fsr' ta"s II
q. MAY 81 TO stockholders Of record na, '.,y Z
August 80 70 etoc', holders OF record -, 70,
10 and November 20 to atockhoders - d;yi
ord November 8 also. regular anHus' ..o.s
dend of per cent on the preierre' ,,kols
payable quarterly on March - 10 ao 80 =, toe
crs OF record March It. June - % M /
holders Of record June 10. Septen,ape' IN
stockholders of record September J" an I'm
cember 81 10 stockholders OF record -
Der II. -,
Reading Company. Regular gus ,r.
dividend of | per cent on the se,o". s,ocs
ferred stock. payable March il "
holders of record February - =,
Shattuck Arizona Copper COMPANY ND
teriy dividend Of % cents per share. 'bar,
capital distribution Of - cents pc, pi,o-s o
both payable April "a 10 stocA''''''
record March so -.
nion Bag & Paper COMPANY. nsssbs
quarterly dividend OF = per cent 'w,s,ch !
March l. TO stockholders of record as' =.
Republic Iron 4 Steel Compsny. NJ NJ -
quarterly dividend of ! "a per ecu. ..ocs
preferred stock. payable April ~ -sruls
holders of record March %: also !. "a,
quarterly dividend on the common SUI, I'll Y
able May ! to stockholders of record ~,
. Cuban-American Sugar COMPANY. ~ d
lar quarterly dividend OF ~ per cent
common and ia per cent on the p.s,,,se
stocks, both payable April to St"eA'
of record March 10.
New-York tribune., 1918-02-21
National Enamelling Raises Dividend

In declaring a dividend OF 6 per
cent on tho Sl5.59l 800 outstanding
common stock for the year 1918 yes
terday. directors Of the National E.nam-
cling and Stamping Company raised
the rate over last year by pcr cent.
An initial dividend of 4 per cent was
declared year ago. The 6 per cent
disbursement is payable in quarterly
instruments, y per cent on March 20,
May 81, August 30 and November 30.
Announcement of the increase i'll the
dividend rate was followed by an ad-
vance in the price of the common stock
to As i. on The Stock Exchange. The
closing quotation was 477s. 4 net gain
Of one point
New-York tribune., 1918-02-21

ton, they were moving a constantly
increasing volume of freight until IA
flood of stupid priority orders
brought such congestion and confu-
sion that seemingly only more gov,
crnment interference could bring
order out of chaos.
New-York tribune., 1918-02-21
TO Retair Small Liberty Bonds

1t was stated at the Federal Reserve
Bank yesterday that there is no pres
cnt intention Of leaving out of the next
Liberty Loan bonds Of $50 and 800
denominations. There has been some
discussion, however, of a plan for re-
placing the cash partial payment sys-
tenn by the use of war stamps. This.
it is argued, would eliminate much de-
tail work involved in the regular meth
cd Of paying for the bonds on the in
stalment plan.
New-York tribune., 1918-02-21
New York Air Brake on
Regular 20 Per Cent Ras;s

Directors of the New York Air Brake
Company declared a quarterly dividend
of per cent on its SlO,0oo.Ooo capital
stock, putting the issue on an annual
basis of 20 per cent. This action had
been expected. 7 he company has been
paying dividends for the last fifteen
months at the rate of 10 per cent
regular and 10 per cent extra. The
dividend just declared is payable
March % to stock Of record March 4.
New-York tribune., 1918-02-21
and CO m m rec &
Relevant Comment
Market Ignores Kussia's Plight


In Wall Street commission houses
it was remarked not once but many
times during the course of the session
that stocks were acting remarkably
we'll considering the gloomy news from
Russia. Substantial declines were re-
corded at times, but good recoverles
were made on the whole, and the
undcrtone was strong. The explanation
Of this stolidty of prices i'll the lace
of the Pctrograd news was that "
had been generally expected Germany
would in the end outwit The Boishe~
vik managers. Indeed, the wonder has
been that Trotzky and Lenlnc we're
able to keep up the negotiations as
long as they did. Russian government
external 5l. per cent bonds sold on
the Curb yesterday at 80, decline OF
a point Russian exchange was steady.
New-York tribune., 1918-02-21
Elections

Herbert ". Morse has been elected
c-prcsident of the New York Trust
Company. and Samuel II. Fisher has
been elected a trustee, TO fill a vacancy.
Boyd 6. Curtis succeeds M Morse as
secretary.
7. T. Sullivan has been elected di-
rector OF the Republic Railway and
Light Company.
New-York tribune., 1918-02-21
Finance Economics
WALL. Tecphon..
Mills Building Broad Hanover eb14

Gradually, but none the less
Trmly. "non-essential" industries are
being curbed. That apparently is
Inevitable, inasmuch as there is
neither enough labor nor capital to
produce the things required for war
and enough to allow private con-
sumption to proceed as in times of
peace. SO we have restrictions
through priority of supplies, and to a
constantly increasing extent, through
credit starvation. Pressure is
brought, "unofficially." but with
steadily greater force on the banking
institutions in this city-and pre-
sumably>throughout the country-to
Curtail loans to ''nonsessentials. +"
Now this is to be expected, and is
deserving rather Of commendation
than condemnation, but the manner
IN which it is sought to cut off credit
supplies is open to serious criticism,
FOR it is not only likely to work gross
injustice, but is positively dangerous
IN that essential production might be
reduced. The banks are asked to re-
lrain from loaning to non essentials
and they are doing it-but neither
the Federal Reserve Board. which
apparently is back of the movement.
Tor any other official agency has
had the courage to define or classify
the non-essentials. That is left to
the individual Judgment of each of
about 10000 bankers, whereas there
arc scarcely any two Of them who
have the same ideas as to essential
and non-essential industries. One
banker has as a customer a large
tobacco manufacturer. When that
customer applies for loan he is
told that the tobacco business is non
essential and he will have to do
without funds. SO he quits business
or greatly reduces his output. Across
The street, perhaps, is another
banker who likewise has a tobacco
manufacturer as a customer. On the
theory that tobacco is necessary for
the boys in France" and those at
home as we'll, the banker grants him
all the accommodation he may re-
qulre. The result is obvious-the sec
ond man gains trade at the expense
Of the first. To attempt general re-
slriction of credit in such hap
hazard way as it is now being at
tempted is as absurd as it is danger
Gus. A definite programme should
be adopted.
New-York tribune., 1918-02-21
Country Banks Buy Fewer Bonds

Bond men report a sharp falling Oil
in the sale Of bonds to banks within
the past ten days This condition APP
plies largely to out-of-town institu-
tons, which are conserving their
LIQUID funds to invest IN the Treasury
certificates Of Indebtedness to be is
sued before the next Liberty Loan IS
iloatcd. The country banks, IT IS
stated. are carrying their policy OF re-
trcnchmcnt to the extent that in some
instances bonds now held are being
sold to increase the funds available
for participation in government hnanc-
New-York tribune., 1918-02-21

If the American Transportation
machine. and railroad legislation
had been made to order. with war
efficiency as a prime objective (as
wax more or less the case in Europe)
r'stead of developing in the asym-
metrical fashion dictated by cXpc-
cheney, there would be good foun-
cation for the time-woon charge
repeated by Senator johnson in .ad
Nccatlng government ownership. that
the railroads had "broken down" un-
der private management. As it
happened, the carriers were called
rron to meet a situation the like of
which had never been imagined
They met it with what was, under
TIE circumstances, remarkable
demonstration of efficiency. They
produced more transportation than
eVer--mOre than would have been
considered possible Il year before,
Ana in spite of restricting legisla-
New-York tribune., 1918-02-21
San Joaquin Light < Power Corpon

tion.-Gross revenue for the year cndei
December 81 was $2,054.o00, compsrea
with S1,s09,5s6 for the previous year
Expenses amounted TO sS95.l24 com
pared with s737 ,493 for 1916 Net in
come was $1.227 .227. compared with
Sl,09o.s30 for the year before Surplus
was $685. compared With s59l.sls
for 1916.
New-York tribune., 1918-02-21
News Digest


London Stock Market Stagnant-
LONDON. Feb. 20.-Business was al
most stagnant on the Stock Exchange
to-day in the absence Of stimulating
influences. Short term securities were
the most attractive issues in the gilt
edged section. while bank shares and
few industrial and shipping stocks
hardened slightly. The tendency in
other directions was easy, owing to
lack OF support.
Paris Bourse. PARIS. Feb. 20
Trading was quiet on the Bourse to-
day. Three per cent rentes, 81 francs
80 ccntimes for cash. Exchange on
London. y francs 17l2 centimes. Five
per cent loan, 81 francs Is ccntimcs.
New-York tribune., 1918-02-21

Silver Bars in London were ouo,od
at 42Ssd d, unchangcd Now York, S5asc.
changed. '''
New-York tribune., 1918-02-21

Commercial Paper~-Rates for com
mercial paper We're somewhat frmer.
The best names were quoted SO per
cent to 5@4 per cent for four months
periods and 5aa per cent to per cent
for the longer maturities. with the
volume of business being done at the
higher rate. Names not so we'll known
continue at -, to 8 per cent.
New-York tribune., 1918-02-21

The above rates express thc cost Of
foreign money in terms of the Ameri-
can dollar. You buy an English pound
sterling at, say. s4,75lSs The intrinsic
parity is s4.S6's per pound. Thus YOU
say either that pounds arc at discount
or 'hat doliars are at q premium, which
is owing to the fac: mat in England
the demand for dollars with which TO
settle accounts in this country is greater
than the demand in this country for
pounds with which to settle accounts in
England ~'>''''' ~