davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1918-07-23
New York
Answer Hanford's Charges Against
New York Steamboat Company.-In a

Answer Hanfords Charges Against
New York Steamboat Company.-In a
statement issued yesterday, officers of
the New York Steamboat Company de-
MED the charges of acknowledgement
made against the corporation by r. G.
Hanford, who made an application to
have receiver appointed Mr.. Han
fcru's interest in the stock Of the COM
pany- according to the officers, con-
sisted of an option to purchase from
the Ancrews Institute for Girls certain
shares owned by the institution. Han
ford's application" the statement
added, had no basis and could have
been made only for the purpose of
forcing an extension beyond July 1 of
his option to buy the stock of the
company owned by the Andrew Insti-
tute for Girls, or in some other man
ncr to further his own personal ends,
as he was not Joined by any other
stockholder." Owing to conditions
growing out of the war the officers
stated that the company has not been
able to consummate plans for the re-
funding of its maturing obligations, but
tre institutions interested in the com
pany are prepared to and will meet
any extraordinary requirement of the
COMPANY that may arise under present
colditions'
New-York tribune., 1918-07-23

Pacific Mills.-Regular semi annual
dividend of 81, payable August to
stock of record July 22
Philadelphia Company. - Regular
semi-annual dividend q 2Ez per cent
Isl 25) on the per cent preferred
stock, payable September to stock of
record August 10.
Connecticut Railways and Light
mpany.-Regular quarterly divi-
dends of rs per cent on the common
stock and I 1s per cent on the pre-
ferred. Both dividends are PAYABLE
August Is to stock of record july 81.
General Cigar Company. Inc.-Reg-
ular quarterly dividend of ia per cent
on the preferred stock, payable Sep
tember to stock of record August "a
Stewart Speedometer Company.-
regular quarterly dividend of I u per
cent on the common stock. PAYABLE
august l5 to stock of record July 80.
Bethlehem Steel Corporation.-Regu-
lar quarterly dividends of 81. so on the
class "A" and class "B" common stock
payable October to stock of record
September 16.
American Bank Note Company
regular quarterly dividends of 70 cents
on on the common and preferred stock.
ne preferred dividend is payable Oc-
tooer 20 stock of record Septem be r
10 and the common August Is to stock
OF record August !.
New-York tribune., 1918-07-23
Lower Prices for
Hides Announced
By War Board
Pound Reduction of Seven
to Eight Cents Will
Equalize Market

WASHINGTON, July 22.-New max
imum prices on hides for three months,
beginning August 1, announced to-day
by the Price Fixing Committee, of the
War Industries Board, provide for an
average reduction of from to 8 cents
per pound from the old prices
Packer hides range from "a cents
to 80 cents a pound, according to the
weight of the steer and country hides
from II cents to % cents. All coun-
try hides are to be bought and sold
on a selected basis.
"These readjustments Of maximum
fixed pAsces," said the boards an
nouncement, twill more nearly equalize
the actual market conditions as re-
fected in prices of country hides and
need not affect the prices of cattle
There have been widespread com
plants that the small hide producer
has been unable, owing to marketing
conditions, to secure fair price for
his hides. The War Industries Board
has, therefore, under consideration the
appointment by permit of hide dealers
similar to the system adopted in wool.
New-York tribune., 1918-07-23
Lyons Annual F air
Grows in War line
French Prepare for Peace Drive
While German Drive
Is On

The fact that German invaders held
large section of Northern France and
were preparing for their greatest drive
did not prevent citizens of Lyons hold
ing in March last their third sample
fair. According to nationality the par
ticipants in the 1918 fair numbered:
France, 2,136; French colonies, 21O;
Allied ountries-United States 527
Great Britain 113, Italy 40, Canada 2,
Portugal 2, Belgium /; neutral coun-
ries-Switzerland 102, Spain 81, Swe-
den 21, Netherlands g.
Of the 527 American exhibitors,
forty-fve showed actual samples, the
remaining exhibits, numbering 1872, be-
report of the fair the management
evidently considered it proper to count
these catalogues as actual exhibits,
samples from America under present
number of exhibits shipped from points
in America for this fair never left the
United States; others are still at Bor-
deaux and a few have reached Lyons
since the exhibition closed. Even TAX
ing into account, however, only those
samples that were actually shown, the
advance over the preceding year
amounts to 100 per cent.
AS the great majority of the foreign
representatives at the fair were from
countries allied with France, this fact
is considered as having a bearing on
Frances commerce after the war, and
lends strength to the belief that the
Lyons fair as an organization of Inter
national Importance will hold its posi-
tion upon the return of normal con-
ditons.
The practical Importance and favor
able results of the Lyons fairs are fur
ther attested by the fact that 1923 firms
have already engaged space for the
1919 fair and oil stands have been
rented.
New-York tribune., 1918-07-23
N. Y. City's First
Financing Since
Wagner War Bill
Municipality to Borrow
$15,OOO,OOO for Revenue
for Brief Periods

The first financing undertaken by
the present municipal administration
since the Wagner bill, relieving the
city of the necessity of adhering to the
payas-you-go policy of financing pub
lie improvements, was signed by Cor
ernor Whitman, was announced yester-
day by Controller Charles L. Craig in
a statement that he will receive
tenders for $15,0O0,OoO short-term
revenue bills until July 26.
Proposals will be made on an interest
basis and may be for all or any part
of the issue. Payment must be made
by July 30. The bills are designated
as following: s5,Ooo,ooO, dated July 20
and maturing December 3, and $10,OO0,-
600 dated July 20 and maturing De-
cember 10.
The last previous financing done by the
city was early in May, when $5,000,000
notes were sold on a 4.68 per cent
basis. These notes mature this month
and will be refunded by the new issue.
In February, J. P. Morgan & Co. bought
S2o,o00,000 city revenue bills.
The Wagner bill authorized the city
to borrow $15,O00,0 900 in excess of the
debt limit restriction for each year of
the war and fore one year after its
termination.
New-York tribune., 1918-07-23
Fewer Argentina Failures
1918 Statistics Prove Business on
Sound Basis

Commercial failures IN Argentina
have been steadily decreasing as re-
CARDS number and amount cf liabilities
SINCE the panic in that country, which
marked the year 1913. This crisis
caused the greatest number of bank
rrptcies that country had ever known.
Liabilities of failures in that year
amounted to $84,356,572, and in 1914
they totalled sl67,O41,775 By 1916,
conditions in the Argentine republic
had adjusted themselves te the war
situation and liabilities of failures in
that year were S43,378,45 In 1917
they were S33 ,945, 1893.
Figures for this year show that the
business of the country is on sound
basis, compared with previous war
years. Commercial failures through
out the Argentine republic for the
month of May, 1913, represent assets
of S2,343, ,567 and liabilities of S1,747,
1926 For the first five months of 1918
the total lis sbiities amounted to &c.
972, ,l37. compared with S11,3S7,923 and
15,507 500 for the same period in the
years 1917 and 1916, respectively.
New-York tribune., 1918-07-23
Copra in Great Demand
Importation of Cocoanut Meat
Increases Tenfold

Copra is the trade name Tor the
dried meat of the cocoanut, and the
extent to which its importation into
the United States has increased was
indicated by the recent order from
Washington cancelling the June %
order, which barred it out. The
demand for copra has increased to an
extraordinary degree within a few
years. compilation by tn National
City Bank of New York shows that
the quantity of copra brought into the
United States in the fiscal year 1918,
just ended, was approximately ten
times as much as in the year before
the war. From a modest 56,O0O,o00
pounds in the fiscal year 1914, all of
which preceded the war, the figures
grew to 9O,000,0OO pounds in 1915,
and about 100000 pounds in 1918.
The tropical sections of the whole
world are being ransacked for the CO.
coanut, and the imports into the
United States are drawn from more
than thirty countries and islands rep
resenting every grand division Of the
globe. Oceania is by far the largest
contributor, and our own Philippine
Islands supplied nearly one-half of
the approximately 550,000,000 pounds
entering the United States in the
the government upon this subject again
permit the importation of all copra ex-
cept that classed as Shredded, desic-
Gated or prepared" which has formed
in the past but an extremely small
proportion of the copra imported into
the United States. The quantity i'm
ported in 1918 OF this class, which is
still excluded, was but about 20,000.000
pounds out of a grand total Of $780,
100000 pounds imported.
Even this tremendous increase in
q part of the story of the increased
demand for the product of the cocoa
nut. The quantity of cocoanut oil i'm
ported has also rapidly increased, from
100000 pounds in 1914 to about
$50 100000 pounds in 1918, and of
this. our Philippine Islands also con-
tributed more than one-half.
The United States apparently con-
sumed in the fiscal year 1913 the
product of over 100000, 900 cocoa
nuts. Accepted authorities indicate
that one pound of copra represents the
meat of three average-sized cocoanuts,
and as the importation of copra for
the year is about 55O,o0O,OOO pounds
and of oil about $50, 900, 900. the total
number of nuts represented by these
two importations would be approx
imately 2,400, 100000 cocoanuts, while
the number of nuts imported in the
natural state from foreign countries
and our own islands during the year
amounted to about 100, 100000, bring
ing the total of the nuts represented
by these three classes of imports, up
to approximately 2,500,000,000 against
about 00,00O,000 in 1914. The value
of the cocoanuts, copra and cocoanut
oil imported in 1918 is about 0.000,-
600, against approximately S12,000,000
in 1914
This great increase in the use of
the cocoanut in the United States is
apparently due, in some degree at least,
to the decrease in the supply of meats,
fats and dairy products available for
the use of our own people.
New-York tribune., 1918-07-23
Using Peat Fibre as
Substitute for Wool
Swedes Invent Process Already
Adapted by Danes to
Their Needs

The scarcity and high price of wool
have forced investigation to find sub
stitutes. Sweden has moved in this
direction by using peat fibre in the
textile industry. On the initiative OF
Professor G. Sellergren, of the Techn-
cal High School in Stockholm, expert
ments werei made that gave such results
that stock company has been formed,
under the name "Fiberuld" (Which is
what the Swedes call the new mate
rlal), and is now equippng a factory
at Hadenge. in Jonkoping Len, for spin
nlng fibre of peat taken from the
large bogs there. After many expert
ments an economical method of ex-
tracing peat fibre or peat litter has
Will be dealt with further, carded,
spun and woven IN factory which
the company is establishing near
Groteborg.
The peat wool can be made into mat
ting, carpet stutfs, etc, in various
colors, while by mixing in 10 per cent
of animal hair it can be used for felt
soies in footwear. The most surpris-
ing development is the weaving Of
cloth, in order to do which 80 to do per
cent of wool is mixed in. This product
van iio Wy NC us tlHS ulSNeQ from ClOtn
made from wool alone, so soft is the
feel cf it. The strength is such that
while wool thread can bear 1913 pounds,
the fibre-wool thread can bear PSF
pounds, which also shows that the
hbre wool is usable for binder twine.
The method. with the necessary ma
chlnery, is patented in Sweden, but
rights have been bought by a Danish
syndicate, and in the near future peat
fibre will also be produced in Den
mark.
The method that will be used in
Denmark for the production of peat
wool differs on various points from
the one which the Swedish factory
uses. the aim being to make the fibre
as crlmpy and curly or, in other words,
as "woolly," as possible. This permits
the use of the peat wool without the
addition OF wool or cotton; or, where
such admixture is necessary. only
small percentage is needed, which of
course makes this way of preparation
more economical than the other.
New-York tribune., 1918-07-23
Norway's Merchant Marine

Despite losses of ships through wal
or weather vicissitudes, the Norwegian
merchant marine grew in tonnage dur
ing May last. The Norwegian Depart
ment Of Commerce reported on May
that Norway's merchant marine con-
sisted of 1926 vessels. with com.
bined tonnage of 1,95O,463 gross
registered tons. During the month OF
May there was a loss of twenty-five
vessels with tonnage of 1896 tons
and an increase of twenty-three yes
sells of 1920 tons. The net result
for the month IS therefore a loss ir
the number of vessels amounting te
tive, but an increase in tonnage
amounting to 1854. This increase is
chiefly, to be ascribed to the registra
ton during the month of the new
Norweeian American liner Stavanger.
ford, of 1852 tons. The statement
Tor June !, 1918. is therefore $3.50
vessels, of 1,951,927 tons.
New-York tribune., 1918-07-23
Federal Control
OF Common Labor
Government to Direct Recruit
ing for War Industries
Especial Dispatch to The Tribune)

Especial Dispatch to The Tribune)
CHICAGO, July 22.-~Drastic changes
in the nations programme of recruiting
common labor, and which will apply to
all manufacturers who employ more
than 100 persons at work which can
be so classified, are outlined in letter
received here from J. B. Densmore
Director General of the Employment
Service Of the United States Depart
ment of Labor
On August 1 the task of supplying
war industries with common labor will
be centralized in the United States
Employment Service and ali indepen-
dent recruiting of common labor by
manufacturers having 100 or more men
on their payrolls will be diverted also
and come under the direction and con-
troll Of this government agency.
New-York tribune., 1918-07-23
Relevant Comment
Canadian Pacific Strong

Canadian Pacific has long been one
Of the best known of the so-called in
ternational stocks. That makes it's
current strength rather significant
Yesterday Canadian was ,strong spot
in the stock market, advancing to 150A
and closing at 1904, for a net gain of
IA points on turnover Of $500
shares The rise pat the stock at a
new high record for the year, which
compares with low of 1875 made on
March 25, just after the Germans had
made large gains in their first drive
for the Channel ports
New-York tribune., 1918-07-23

pectedly confronted with finapcial
problem of imposing proportions.
The railroad administration, it is
understood, is notifying many of the
carriers that new freight cars or
locomotives have been assigned to
them, and is instructing them to
make arrangements with their bank
ers to pay for this equipment. 1t
will be recalled that the equipment
programme of the railroads, as
drawn up last May by Director Gen
eral McAdoo, called for eXpendi
lures aggregating S479,6S6, 1000, and
it was then stated that while part
of the necessary capital would be
supplied by the government from
the S50o,000,00O revolving fund, to
be eventually repaid by the individ-
ual roads, the latter would be eX
pected to finance additions to equip
ment as far as it was possible for
them to do so. Evidently they are
now being called upon to fulfil their
part of the programme.
But it is much easier to give in
structions to obtain funds from the
bankers than it is to carry them out.
SO far some of the roads have not
succeeded in obtaining the necessary
funds from their bankers. Nor is
that surprising in view of the large
amounts that must be raised for this
purpose. Combined equipment ex-
penditures for the year of the Penn
sylvania lines east and west, if the
original schedule is carried out, will
amount to $40,255, 900, while the
New York Central schedule calls for
$38, ,168,000, the Baltimore & Ohio
for 27,336,000, the Atchison for
$23, 900, and many others for
amounts ranging we'll up to into
millions of dollars. Inasmuch as
the banks are reluctant to tie their
funds up in loans for this purpose,
on the ground, presumably, that
such loads would be lacking il IL
quidity, it is not unlikely that the
railroads will soon be compelled to
bid for the necessary capital in the
investment markets. Equipment
trusts have always been popular
among investors and should go we'll
now if offered on an attractive basis.
The trouble is that Washington
might be unwilling to sanction terms
liberal enough to insure successful
flotation of such issues.
The 1917 report of the Midi Rail
way, operating in Southwestern
France, is an interesting document.
It's most striking features are the
statistics which show that 32,165,-
7O2 passengers were transported
during the year, or 1212 per cent
more than were carried in 1918, and
that the slow freight tonnage moved
exceeded that of 1913 by substan-
tial margin. This is remarkable
record, comine as it does at a time
when the railroad was burdened by
labor shortage, lack of equipment
and other handicaps incident to war
conditions. The fact that only a
relatively small part of the slow
freight shipments consisted of ton
mage transported for account of the
military authorities suggests that
The economic life Of our ally has
been much better maintained than
is generally supposed to be the case
New-York tribune., 1918-07-23
News Digest
Foreign

London Market Strong.
July 22.-The war news received since
Friday has put dealers on the Stock
Exchange and the public in an excel
lent mood. Values had risen in vir-
tually all cases before buyers appeared
and the execution of number of or
ders caused a further hardening in
prices. Consols, the war loan, French
5s, oils and shipping shares were
prominent, and even where no bust
ness was done prices were marked
higher. Russian mines and oils were
active. The market closed strong and
confident. Money was in good supply.
Discounts were quiet.
Paris Trading Active.-PARIS, July
22.-Trading was active on the Bourse
to-day. Three per cent rentes sold for
81 francs S5 centimes for cash Ex-
change on London was 27 francs 16
centimes. Five per cent loan brought
SO francs 60 centimes
New-York tribune., 1918-07-23
Record u. S. Meat Order
Government to Spend $145,-
100000 for Beef and Bacon

CHICAGO, July %. - The govern
ment's later meat order, received at
the stockyards to-day, is said by
hackers to break all records. 1t calls
for 99,0O0,ooO pounds of bacon and
100000 pounds of canned meats for
the army.
The cost will run between $14o,ooo,-
900 and $145, 100000, it is said, of
which $130,00O,0O0 will go to growers
of livestock. Deliveries are to be COM
Eleted by January |, 1919.
New-York tribune., 1918-07-23
A Canadian Banks Record

The Canadian Bank Of Commerce is
proud of its war record. Since the
outbreak of the conflict in 1914 it
has lost 1874 of the members of the
staffs of it's 37O odd branches in the
Dominion, who have gone into the SER
vice. Of this number 18O have been
killed on the field of battle or have
died in the sefvice. In addition, the
men wounded and missing have reached
total of 366. The places of the men
who are now serving with the Cana
dian forces have been to a large extent
taken by women and girls, most of
whom are inexperienced in banking
ways. On June 29 last the bank had
1,4S1 men in it's permanent employ and
226 temporarily employed. At the
same time the women on its roll num-
bered 1,343, of whom 963 have been
taken on temporarily
New-York tribune., 1918-07-23
Olive Oil High in Greece

In spite of the war olive oil produc-
ton in Greece promises to exceed that
of last year. 1t is reported from the
olive producing districts in Western
Greece that trees have lowered lux
uriantly and the young fruit has set
we'll. Olive oil is scarce in Greece,
although the 1917 crop was of fair size.
Prices are high in Greece for this
product The ordinary grade of olive
oil, which sold on the wholesale mar
ket in 1916 for fifteen cents a pound
and in 1917 for twenty-four cents a
pound, is now thirtyonc cents a pound
wholesale, and practically none is Of
fered.
New-York tribune., 1918-07-23
FINANCIAL MEETINGS
To the Stockholders of The Equitable Life
Assurance Society of the United States:

NOTICE OF SPECIAL MEETING or
STOCKHOLDERS
Notice is hereby given that special
meeting Of the stockholders Of Tls
Equitable Life Assurance Society Of ths
United states will be held al the Office of
said Society, Room s17,. Equitable Build
ing, No 120 Broadway. in the Borough Of
Manhattan, city. County and State Of New
York, on the 6th day Of August. 1915. al
twelve o'clock noon. for the purpose OF
considering. approving and authorizing the
amendment OF the charter Of said Society
and The adoption Of new and amended
charter under and in pursuance %. the pro
visions Of Section 50 Of the Insurance Law.
so as to confer the right 20 vote al every
election of directors for all directors Of the
Society upon every policyholder whose IN
surance shall be in force and shall havs
been In force for least one year prior 10
the election OF such directors. without
other qualification. provided in Section
"a of the Insurance Law. and for he pur-
pose Of transacting such other business as
may be lawfully brought before the meet
ing.
By order OF the Board Of Directors.
WILLIAM ALEXANDER, Secretary.
Dated, New York. July g. ISIS.
New-York tribune., 1918-07-23
United Cigar Co. Dividend
Directors Put Common on 8 Per
Cent Basis

The yearly dividend on the s27,162,-
600 outstanding common stock of the
United Cigar Stores Company was in
creased to per cent basis when the
directors declared regular quarterly
dividend of 2A per cent, payable Au-
gust Is to shareholders of record Au-
gust 2.
Since May Is, 1917, the annual rate
has been 8 per cent. In 1916 the COM
pany paid per cent on the Junior is
sue of stock and in 1915 the rate was
6R per cent.
New-York tribune., 1918-07-23
Expect Regular Steel Dividends

Until it is definitely known that
heavier excess profits taxes will make
it unwise for the Steel Corporation to
continue the current quarterly rate of
Ia per cent and 3 per cent extra on
the common stock, the financial dis
trict adheres to the belief that those
disbursements will be maintained The
board meets next Tuesday, and it is
expected that NO change will be made
in the present dividend at that time.
10 one director was attributed the
opinion that there will be no change
in the common dividend rate this
year. Directors of the Bethlehem
Steel Corporation yesterday declared
the regular quarterly dividends of
$3.50 share on the "a" and "B" COM
mon stocks. This action was taken in
advance of the regular meeting day,
which is Thursday.