davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1918-02-25

ton, to supply the void created bv the
prohibition OF the export of gold. So
serious is the question becoming in
India, where, as the reader knows. tho
rupee has value fixed by the govern,
ment which bears no relation to ;ts
value IN silver, that the government
mas had to regulate the movement of
rupees. At the present price of silver
1t would pay to melt down rupees and
turn them into bars for sale in tho
international markets at the very timo
when India is in urgent need of more
rupees.
I'm China, as already said silver is not
token money, but is the real standard
of value of the country, just as the
pound sterling was in England before
inc war. The rise in the price of silver
has reduced by about one-half the pur
CHASING power of countries like our
own, with nominal gold currency. but
IN which gold no longer crculates
1reely. lhls is what we mean when we
say that the Chinese exchange is seri-
ously against TINS country. On the
other hand, our exchange is more favor
able to China than it has been for the
last quarter of century 1t practi-
cally means that a Chinese merchant,
say, in Shanghai, ordering goods from
this country can buy twice as much for
ms ounce of silver as he could before
the war; but against that British
bank, British merchant or a British
trader OF any kind having to meet al!
his expenses in China in silver and to
remit his profits, if he has any. on a
gold basis, requires to get in double as
much silver tc make the same returns
as he did before the war"
New-York tribune., 1918-02-25
Record Profits
For Distillers
Securities Corp.
Earned 1913 Per Cent ON
Capital Stock in

Net earnings of the Distllers Sc
curities Corporation in 1917 amounted
to $5,497,376, the largest amount ever
reported for any one year in the COM
pany's history. The final net profit was
$4,790,432, equal to 148 per cent on the
S32, ,229,3O0 stock outstanding, compared
with 1880 per cent earned in the year
ended June 80, 1916. The current re-
port is the first issued since the fiscal
year was changed to correspond with
the calendar year.
In reviewing last years operations
the report stated that, by purchase and
through conversion of preferred stock
Of the Distilling Company of America.
$4,000 of Distillcrs Securities Cor,
poration bonds were cancelled. Since
January l an additional 1891 900 of
these bonds have been retired. The
cost has averaged about 72 cents on the
dollar.
The company last year wrote off s2.-
64l,l49 from its property account on
account of conditions existing at the
present time" Current assets on De-
cember 81 stood at $15,275946, com
pared with current liabilities Of s12,-
1857.
New-York tribune., 1918-02-25
Jute Situation in Scotland

Owing to the rather critical coa']
tons prevailing in the jute incususl
IN Scotland the Dundee jute SPINE!
and manufacturers are largely IN ipl
OF resorting to a stoppage OF ee'sl
proportion of machinery in their yer
The government has made known
desire for reduction OF 10 per g
on the 1916 consumption of raw y
and at recent meeting o. the ~;
ners and manufacturers it was u',,
mously agreed that the reau''.
should be effected by eurtai'~.
of machinery rather than by ra's
on short time.
New-York tribune., 1918-02-25

The banks were compelled last
week to take steps to build up their
impaired surplus reserves. Accord
ingly money rates were firmly main
tanned most Of the week. Call loans
ruled at 6 per cent at the Stock Ex-
change during the fore part of the
week, easing off to Az per cent later,
when the banks received fresh de-
posits of United States government
funds, the total of such at the end
of the week standing at S43S, 1925 900.
an increase of approximately $50
100000. When money rates we're
most firm the bankers money COM
mlttee became active, loaning several
millions of dollars on call and tnus
preventing an undue squeeze. Sixtv-
eight banks are represented on this
committee, which has a 5000, 100000
pool to draw upon in any money
market emergency. The committee
was originally formed to assist in
keeping rates easy during the fota-
ton of the secofid Liberty Loan. It's
life has been extended and it likely
will continue during the rest of the
war period as an important cog in
the financial machine at this centre.
Interior banks withdrew substan-
tial amount of funds during the week
again in order to take up the next
issue of certificates, which will bear
AZ per cent interest. The preceding
issue Of 4s was sold only because
the banks in New York and other
New-York tribune., 1918-02-25
Baldwin Loco.
Earned SIS q
Share i'm 1917
But Heavy Charge Against
Patent Account May Pre-
vent Early Dividend

PHILADELPHIA, Feb. 24.--Record
lished by the Baldwin Locomotive
Works last year, according to the an
nual report issued last night. Gross
sales were $9S,263,S65, compared with
$59, ,249,O57 in 1916, an increase of near
ly 60 per cent. Last years sales came
$63,455,574 from construction of 2,748
new locomotives, $13,S35,7O7 from other
regular work, and $20,972,583 from
shells and other special work
From last years business the COM
pany earned manufacturing profit of
11,779,019, against $6,361,71O the pre-
vlous year, and after payment of fixed
charges and preferred dividends and
deduction Of s1,75O,00O for Federal
taxes, surplus of $6,9O5,722, against
$1,219,465 the preceding twelve months.
Such surplus income last year was
equal to nearly s35 a share on $20,OO0,-
600 common stock compared with a
little more than Sc share the pre-
vious year.
Very large earnings had been fore
cast, but what will surprise the stock
holders is the announcement that
$15,800,000 has been charged off from
accumulated surplus for extinguish-
ment of patents and good will, bring
ing the final surplus at the end of the
year down to only S55,346.
Early last week Baldwin common
stock had strong advance on reports
of an early distribution on the COM
mon stock, but on Saturday it dropped
sharply. Action of the board in appro-
priating S15,S0O,O00 from surplus to
reduction of patents account would in
dicate that dividends on the common
stock may not be started for some time
to come.
New-York tribune., 1918-02-25
The Neto York Tribune
Lo.o;a,, Drrvs XurcufL

tOrGtUn ITfS3 DNTcU"
TNHE Prussian railroads suf-
fered in 1917 & deficit of 2bO
million dollars, Minister Of
Finances Hergt declared in his re-
port on the Prussian budget for
1918. He expects that this deficit
will double in 1918 on account of the
rise in price of coal. In outlining
the new budget the minister said
that the new incomes of Prussia
would exceed those of last year by
nearly 1,400 millions, while the ex-
penses will be higher by 1889 mill
ion marks than those Of last year.
The net surplus will be 343 millions.
Following is the text Of Minister
Hergt's speech before the Prussian
House of Representatives:
"Assuming that on April /, 1918,
the war will still be going on, all
additions to the income and supple
mentary taxes which had been voted
on July s, 1916, will be repealed.
The incomes and the expenses of the
fiscal year 1918 will balance without
these additional taxes. These favor
able results have been obtained in
spite of the rising expenses on ac-
count of the war-the total salary of
officials alone has been raised by $40
million marks because Of high prices
thanks to the opening of new
sources Of incomes. For this purpose
the railroad administration, the ex-
penses Of which also have risen on
account Of the war, raised the rates
Of passenger and freight traffic; it
is expected that this will increase the
receipts of the railroads by 3S9 mill
ion marks. In addition there re-
mains available for the needs of the
state the net proceeds Of the state
above the margin Of 2.10 per cent
for the invested capital; this would
give about 159 million marks.
"ln preparing the budget for 1918
the same methods have been used as
in preparing that Of 1917. In plan
ming the expenses great moderation
was exercised. Nevertheless, it was
impossible to keep down the expenses
to what they had been in previous
wears,
New-York tribune., 1918-02-25
How American
Soldiers Abroad
Get Their Pay
Banking Machinery Made Espe-
cially for Army in France
TNHE American soldier is we'll
B paid, as compensation for
militar1 snrNicn nnes LIE

TNHE American soldier is we'll
paid, as compensation for
military service goes. He
also has the hardly less appreciated
satisfaction Of being able to get
his money with the least possible
delay and Inconvenience. This has
been brought about through ar
rangements devised in part by the
government and in part by bankers
who have regarded it as a patriotic
duty to solve the financial problems
of the man who is doing the fight
ing.
Organization Of a system for the
payment of the armies at home was
comparatively simple, but when it
come to paying the men overseas
and so arranging matters that they
would get the full benefit of their
allowances, an entirely new set of
circumstances had to be dealt with.
Most of these men were unfamiliar
with the currency Of France or
England. In France they found the
tradeSmen unreSpOnSlve to the facil-
tiles of such instruments as drafts,
letters Of credit and checks, those
mediums Of exchange which make
a distinct appeal to the Anglo
Saxon. Moreover, the rates of ex-
change allowed by the tradesmen
were unstable under the pressure
Of war. To these difficulties was
added the uncertainty of commune
cation and transportation. The
whole situation was one that the
hardest soldier contemplated with
something akin to dismay.
Gold Payment
Suspended
At the outset the government was
forced to abrogate the customary
payments in gold to it's soldiers on
foreign service. The mere shipment
of such an amount of the precious
metal would involve risks too great
in times like these, to say nothing
of the disturbance in the money
market such a turnover of gold
would occasion. Consequently, re-
sort was had to a sufficient credit
established in France on which the
disbursing officers with the expe
ditionary forces could draw. Paw
ments are now made either by
check or in the currency of France,
according to the desire of the SOL
diers. Those who take checks send
them home or deposit them with
banks under some one of the ar
rangements devised by bankers
here who have correspondents or
branches abroad. For the benefit
of those who take currency. rate
of exchange is established by proc
lamation each month. This means
that the soldier gets French cur
rency IN an amount which equalizes
the difference in value between the
dollA and the franc The American
soldier is discouraged from taking
gold abroad with him. He could not
possibly make much by doing so.
His Treasury check, which he may
have if he desires it, is equivalent
New-York tribune., 1918-02-25

In the investment market there
continues to be an active demand for
municipal notes, several small issues
having been quickly placed during
the past week on a favorable basis.
New York City sold a block of $5,-
100000 Of it's revenue bills on basis
of 4 X per cent, while the city of
Newark disposed Of S2,3O0,0OO notes,
which the bankers offered for sale
on a AS per cent basis. The State
of Massachusetts, sold $5,00O,00O
notes on 4.55 per cent basis. The in
quiry for long-term investment bonds
of the highest grade has been fairly
good, although tighter money condi-
tions are operating to restrict any
pronounced broadening of this mar
ket. The principal development Of
the week in it's effects on the invest
ment situation was the announce
ment made by Secretary of the
Treasury McAdoo that the next issue
of $500, 100000 of certificates of in
debtedness which the banks are to be
asked to buy will bear rate of Az
per cent. This is an increase of 1s
of l per cent in the interest rate on
these obligations, which is the highest
price the government has had to pay
since the war for it's capital borrow
ings. The announcement of AZ
per cent rate was considered tanta-
mount to an official admission that
the third Liberty Loan issue will
bear the same rate, as against per
cent for the second loan and 31s for
the first. On this assumption it was
not strange that the outstanding
Liberty issues should develop a
strong tone, with the second Is rising
we'll above 81. All these issues are
convertible into the new loan. For
eign government loans have been
firmly maintained in this market, the
Anglo-French SIS holding close to 80,
a price which is about 10 points
above the low record level of Decem-
Der.
New-York tribune., 1918-02-25
lean soldiers pay useful to him faI

ican soldiers pay useful to him FAM
into four divisions. There are >,
rangements for the officers and >,
rangenients for the men; there a.
arrangements for the deposnn
and customers Of the Guaranty aoak
also for the customers of oae,
banks. The feature of the scheme
is that whether the soldier has hi.
pay allotted to the trust compssI
or to any other bank in this CON-
try, whether he has it allotted n
the trust company abroad or sS
ceives his check and deposits itwS
the Guaranty Trust Compass
abroad, he has available to him S
every town of any Importance y
France a bank where he can cad
his checks. The soldier having 3
account with the company can dr3
against it while in France with n
more difficulty than depositor hsTI
ing an account at the main oES
has in cashing a check at lorl
branches; which is no trouble at ID
He gets a letter of introduction \
the Paris Office, a draft transfersu
account to France and his checa
are good at all correspondent officd
If his pay is allotted to the Pala !
Office and he should subsequently D
the record in New York Of his II
rangement would expedite payns}
to his relatives and insure safety /
When the soldier is not a depmi5
tor Of the trust company. but of sons
other bank, which may or may noths
customer of the Guaranty, and il
lots all or part of MS pay to thl
bank, he can obtain full check,4
privileges in France by having j
home bank arrange for what I
known as revolving credit. 81
effect this is a letter Of introducteSz 7
informing the Paris Office of tz
trust company and also the Compm4
National d'Escompte de Paris thu
the holder has Oh deposit and is erS
titled to negotiate checks on the;s
institutions not exceeding in amouH3
$500 in any two consecutive month";
Revolving !
Credit
At the beginning of every sec
ond month another credit is avail
able to the soldier. That is wha
it is called revolving credfd
The arrangement which the soldier 4
home bank makes with the trmS
company involves the remission q
funds which the soldier desls
transferred to Europe. This \
done by draft and no charge for II
service is made. In fact, all seq
vices rendered to soldiers or
banks which desire to help soldier
In getting and using their pay aS
without charge.
Through a similar use OF reVoff
ing credits American officers
whether depositors of the COMPANY
or not, may cash checks drawn Il
the Paris Office of the Guaranty. III
arrangements which they make /
which their home banks make
them are like those made by or
behalf of enlisted men. Under 1a'
arrangement any officer Of gIau
below lieutenant colonel may cav
his checks for an amount up to nv
francs at any time at any OF as'
branches of the Bank Of France, aa1
may repeat this operation SIX tnsI
during any calendar month. II
officers of the grades of lieutenaal
colonel or colonel the amount IS ~
francs for any one check. For
grade of general the amount
1000 francs. Checks must be plI
sented by the drawer in persaf
made out in his favor and indors
New-York tribune., 1918-02-25

To what extent the developments
in Russia have been responsible for
tee somewhat more irregular ten
dencies displayed in the price move
ment of speculative and investment
securities during the past week it
is difficult to say. 1t has been
apparent, however, that the German
successes, with the indications that
they will lead ultimately to the
complete subjugation of the Russian
Empire, or a large part of it, by Ger
many unless the impossible happens
and the Russians find themselves,
have had a SOLDERING effect on senti-
ment in the financial community. In
most quarters the conviction has
been strengthened that the news
from Russia means a much longer
war, and that by building up the
hopes of her people on the military
successes on this front the German
military party will be able to pro-
long its existence. Considering the
Importance of Germany's latest
stroke, it is surprising that securities
have held up SO we'll, for stocks and
bonds at no time last week displayed
weakness, the undertone at all times
being strong, despite the moderate
reactions which occurred at inter-
walls. Professional traders continued
their tactics of bidding up tie spe-
cialties, much Of their attention con-
verging on tobacco, shipping and
leather issues. Sentiment, so far as
the industrial SHARES were concerned,
was helped by the reports in the
basic trades Of increasing activity
with the return of more seasonable
weather and general indications that
the railroad congestion and fuel
shortage had been greatly alleviated.
From now ON it is expected that pro-
duction in iron and steel and other
lines will more closely approach nor
NAL.
New-York tribune., 1918-02-25

TIE ANNUAL MEETING OFTHE STOCK
,,.1 n1olaers GER or The Examinations Corporation
pia. BIZ pc beld at its office. No. 4s Exchange
Sdase Sd OF New York. on Monday, March ,''' 4
1uls, at ~ o'clock noon. for the election Of
r,eeeotS ,rnrsa Tor the ensuing year, and for tho
properly come before the meeting
WILLIAM s. HOOD. Secretary.
New-York tribune., 1918-02-25

large cities took moro than their
share. 1t is expected that the in
terror institutions will be called upon
to take their full quota of the new
issue.
New-York tribune., 1918-02-25
FINANCIAL MEETINGS

NOTICE OF ANNUAL. MEETING or
lll-ll3 WEST 29TH STREET, INC.
holders OF this Company Will be held on
th the AN day of March. 1918. at o'clock in
.@ne @ afternoon, at the office of the corpora-
1ork; Tor the purpose OF electlng a Board
oi directors, two inspectors to serve at ali
@ ee,.ohs or Stockholders during the ensu-
ing year and receiving and acting mnon no
,ttports or the officers and for the transac-
eloh or such other business as may properiv
come before the meeting Nbe'''
Da.o., JOHN NJ. LEE, Secretary.
New-York tribune., 1918-02-25
BRITISH-AMERICAN
TOBACCO COMPANY, LIMITED,
February %. 1918.

THE COLORADO POWER COMPANY.
Ihe regular quarterly dividend of one
ana and three quarters per cent $3.50 has
oeen e,d 6ecIared on the Preferred stock pay
npte @ harch 10, l9lS, to stockholders Of
record February 2S, 1918.
A. =. WIDII Secretary
New-York tribune., 1918-02-25
Bonds for investment
Harris, Forbes & Co.
plEe Street. Corner William
NEW YORK
DIVIDEND NOTICES

At meeting of the Board Of Directors
held February Il, 1918, at London, it was
decided to pay an interim dividend of six
per cent. free Of British Income Tax, on
Ordinary Shares, on March 27, 1918. Cou-
pom No. 66 must be used for dividends. All
transfers received in order at London on or
before March II, 1918, will be in time to be
passed for payment of dividends to trans
fcrees.
East Oregonian : E.O. (Pendleton, OR) 1888-current, 1918-02-02
A CHILD HATES OIL,
CALONEL, PILLS FOR
LIVER AND BOWELS
GIVE CALIFORNIA SNRIP or
FIGS" IL CROSS. SICh,
FEVERISH CONSTIPAIED

Look back at your childhood days,
Remember the dose" mother insisted
un--castor oil. calomci Catharttce'
How you hated them, how you fought
against taking them.
With our children IT'S different
Mothers who cling to the old form OF
physic simply don't realize what they
do. The children's revolt is we'll
founded. Their tender littel "iusidcs'
are injured by them.
If your chiId's stomach, liver and
bowels need cleansing, give only deli
cious california syrup of Figs" Its
action is positive but gentle. Millions
ut mothers keep this harmless fruit
laxative handy; they know children
love To take il: that il never fails to
clean the liver and bowels aud sweeten
the stomach, and that Il teaspoonful
civen today saves II sisl< child tumOr-
row.
ASK your druggist for bottle Of
California syrup Of Figs which haa
fun directions for babies, children Of
all ages and for grown-ups plainly on
each bottle Beware Of counterfrits
sold here See that it is made bS
california Fig syrup COMPANY Re
feuse any ohtre Kind with contempt.
East Oregonian : E.O. (Pendleton, OR) 1888-current, 1918-02-02
TRAINING GROUND
OF u. S. SOLDIERS
IN COMBAT AREA
BY ]. W. r. MASON.

(Writtcn for the United Press
NEW YORK Feb. 2.-Thc north
ern flank of the district persisteutly
reported to lie the principal training
ground of the American army in
France, is being brought into the pos
siblc area of combat by German activ-
ity about St Mihtcl
The occasional French rcconuoitcr-
ing raids along the st. Mihicl front
suggest enemy movements are suspect
ed to bc in course Of preparation at
That part of the line. If a German at
tack We're to be delivered from st. Mi
hiel. its purpose could only be- to
threaten the American troops in train
ing some distance further south. 81.
MIhiel is ;t secondary Nerdun about
twenty miles south of the great Mcusc
fortress. 1t is the most important
supply base held 10y the Germans on
French soil near the American en-
Equipment
st. Mihiel would form a strong cen
ter for offensive operations by the
Germans if they could spare the men
and munitions for operations on ma
joI scale. Under these conditions
there might he reason for some un-
easiness concerning the inviolabilty of
the American training ground But
il is scarcely likely that any effort the
Germans are now able to make would
be sufficiently powerful 10 reach the
American practice trenches
Operations against General Persh-
iEs's rockies undoubtedly hold out
strong temptation tn Won Hindcn burg
who is notoriously favorable to- the
~ 1.
East Oregonian : E.O. (Pendleton, OR) 1888-current, 1918-02-02
Farm Problems studied.

KELSO, Wash, Feb. 2.-Cowlitz
coupty's farm problems of every sort
are being considered with II view to
finding remedies at a meeting of the
county agricultural council. EXten-
sive surveys have been made by the
livestock, reclamation. organizations,
market and other committees and
their reports win be presented with
recommendations.
East Oregonian : E.O. (Pendleton, OR) 1888-current, 1918-02-02
Track Athletic, Open.

CAMP LEWIS, American Lake,
Nash. Feb. 2-Track athletics OPEN
ed With bang here today, with the IN
teams from all regiments being en-
tered. There are 81 men in each of
the teams, and each man win run Il
half mile.
The y NJ. {. a. has II trophy cup to
he won three successive times before
it becomes some regiments permanent
possession. Relays are to be run
every six weeks.
East Oregonian : E.O. (Pendleton, OR) 1888-current, 1918-02-02
CITIES. TOWNS ON CASH BASIS


OLYMPIA. Jan. 2S.-With the
state bureau of inspection - of the
more than 400 emunicipalties of the
state have filed their reports and the
surprising showing made in the mat
ter of keeping within budget appro-
riations according To the Bureau.
of the - towns that have reported
- are within their allowances ana
only one is what might he termed in
bad shape" The bureau cXprcsses
itself as highly gratified bS the show
ing to date, as many towns are on a
cash basis.
East Oregonian : E.O. (Pendleton, OR) 1888-current, 1918-02-02
OVER THE NORTHWEST

in currency and supplies hcre some
time between midnight and 4 o'clock
yesterday morning.
Postmaster GuiSt says he figures
row that tho robbers got away with
$500 in CURRENCY after blowing thN
safe With nuro-slycorin and he cs,
timates that postal supplies carried
away total between 5000 and TtoV'
East Oregonian : E.O. (Pendleton, OR) 1888-current, 1918-02-02
Nan,lin p. q. Robbed.

YAMHILI.. or, Feb, 2.-One of the
most daring robberies in the history
OF Yamhtll county postoffices was that
which netted the thieves close to $tt00
Roanoke Rapids herald. [volume] (Roanoke Rapids, N.C.) 1914-192?, 1918-02-15
Low Temperature.

The lowest i,nown temperature ever
observed by competent scientists was
at WerchojausK, Siberia, Jan. Is, 1885,
when a minimum reading OF minus
eS4 degrees Fahrenheit was regis
tered. The monthly mean tempera-
ture for January nj Jakutz. Siberia, IL
minus 43.S degrees.