davidaulloa/AmericanStories huggingface dataset:
The Columbus commercial. (Columbus, Miss.) 1893-1922, 1918-03-28

The first base bali game to be play.
ed here this season will take place at
the old golf links tomorrow after
noon at 3 O'Clock. The game is to be
played between teens representing
the West Point high school and the S.
d. Lee high school of this city. A
small admission will be charged.
Mr. W. r. Nash has returned TO
Camp Beauregard.
The Columbus commercial. (Columbus, Miss.) 1893-1922, 1918-03-28
Meeting This Afternoon.

A meeting Of the chairmen of the
War Work organization of Lowndes
county viii be held at the Chamber
Of Commerce this afternoon at 8
O'Clock Tor the purpose of oreaniz-
ing a council of National Defense
All chairmen are urged to be pres
ent.
The Columbus commercial. (Columbus, Miss.) 1893-1922, 1918-03-28

An important meeting of the
Mississippi Woman's Council of
National Defense is called by Mrs.
Edward McGehee, for March 80,
9:45 a. m, in the House Of Repre-
sentatives. Jackson, Miss. Commit
tee reports of chairmen and discus
sions in the forenoon; an address
from Df. Anna Howard Shaw, Nat
ional Chairman, in the afternoon.
The Columbus commercial. (Columbus, Miss.) 1893-1922, 1918-03-28

Mr.. and Mrs. Nathan w. Whit
field, Jr., Of San Antonio, Tex, were
called to Columbus the first of the
week on account Of the serious i'll.
ness of Mr.. N. W, Whitfield, Sr.
The Columbus commercial. (Columbus, Miss.) 1893-1922, 1918-03-28

Mrs R. J. Gunter returned to Co
lumbus Monday night after visit to
relatives in Birmingham.
The Columbus commercial. (Columbus, Miss.) 1893-1922, 1918-03-28

Mr.. Carey Cooke, has been spend
ing the past two days in Jackson,
where he attended the state meeting
of Cattle Growers,
The Columbus commercial. (Columbus, Miss.) 1893-1922, 1918-03-28

Lieut.. John Lawley left last night
FOR Camp Beauregard.
New-York tribune., 1918-07-16
Oppose Rail Order
Against Lading Bills
Chicago Shippers Fear 1t Will
Cripple Export
Business

CHICAGO, July 15.-Commercial and
financial interests here fear that the
order of the railroad administration
disseminating after September 80 the
Issuance by railroads of through ex-
port bills of lading will have the eff
feet of crippling the export business
Of Chicago and other interior cities
Steps are already being taken to OBJ
tain hearing from Director General
McAdoo on the matter. The Chicago
Association of Commerce and the H.
linois Manufacturers Association will
lay their protests before the railroad
administration.
I'll. r. q, Deans, vice-president Of the
Merchants Loan and Trust Company.
says that under the present arrange
ment the railroads have been issuing
export through bills of lading. giving
shippers the bankable documents.
Under the proposed new plan the ex-
porter will receive domestic bills of
lading covering the movement of the
goods to port, and will then probably
have to send the documents direct ~
the steamship line by which the goods
are booked. Shippers here fear some
complications will arise from DELAYS
at the arrival port. II feel" says Mr..
Deans, that the new regulations will
have an unsettling influence on our for.
elsn trade. If the effects are not i'm
mediately .perceptible, they will become
SO soon after the close of the war"
New-York tribune., 1918-07-16
Holland Line to
Get German Ships
Torpedoed Craft To Be Re-
placed by Interned
Vessels

The Holland America Line states in
its annual report covering 1917 that.
with the exception of few Dutch
products, it handled no outgoing
freight last year. During the first
half of the year return freight was
restricted to grain and ammunition for
the Dutch government, besides ma
terlals for industrial plants in Holland
and one shipload for the Belgian
relief.
Only fortysix trips in all we're COM
pleted by the passenger steamers to
New York and the freight steamers to
various ports. Of these forty-six trips
only seven were made with passengers.
against forty-six to forty-eight in nor
NAL years. With the entry of the
United States into the war the Hol-
land-America Line closed its Offices
and agencies in Germany and Austria.
In regard to the loss of the steamers
Noorderdyk and Zaandyk, the report
states that the protests of the Dutch
government to the German Empire re-
suited in the latter agreeing TO place
at the disposal of the Dutch govern
meht a tonnage equal to that of the
vessels torpedoed on February q,
against payment of an amount equal to
that for which the lost vessels were
insured. To this end German steam
SHIPS lying in the Dutch East Indies
are to be delivered shortly. The
amount agreed upon for the Blom.
mersdyk has been settled in the mean
time. The Statendam, which was
requisitioned by the British govern
ment, is now running between North
America and Europe. The freight
stipulated is being paid regularly.
lnasmuch as the demand for tonnage
VIII be enormous after the war is over,
and as it is impossible at present to
enlarge the feet by having new ships
built, on account of almost insurmount-
able difficulties in obtaining materials,
the company decided that. as soon IS
the opportunity presents itself, 1t
would make arrangements to assure
the building of new vessels. Consider
able funds will be needed for this pur-
pose, and the company, therefore, pro-
posed to increase its capital BY
Si'2oo,00O. The emission was com
plete success and enabled the COM
pany to set aside S2,165,811 as sps-
cial reserve.
The shares in the Holland-America
Company owned by American con-
Germs were taken over by Dutch com
blnatlon at the end of the year, in
furtherance of the companys desire
to withdraw its stock from foreign
ownership.
The Holland America Line has taken
shares in Dutch coal mining company
and in one operating furnaces and
rolling mills. Furthermore, it has
promised its assistance to the munich
pallty of Rotterdam in sharing the
costs of improvement of the Rotterdam
Waterway and the Twenthe-Rhein
Canal, and to the Hospital for Tropical
Diseases, to be erected in Rotterdam.
New-York tribune., 1918-07-16
Wealth Markets and Commerce
Bankers to Proceed
With Chinese Loan
Government Will Support
Advance by Nationwide
Syndicate

Definite assurances have been re-
ceived by the New York bankers from
the State Department that the project
ed plans involving a large loan to
China may be carried out with the full
backing Of this government. 1t is now
believed that the advance will exceed the
S5O,O0O,O0O talked Of when the nego-
tiations were revived fortnight ago.
When j. P. Morgan conferred with
State Department officials at that time
it is understood he was told the New
York banking institutions which were
in the old six-power loan group would
receive this governments backing in
new loan TO China. A general state
ment, however, was not satisfactory to
the bankers, and they requested more
definite assurances with respect to the
payment of the loan when it fell due.
The loan plans, it was reported yes
terday, call for the formation Of ma
tion-widc syndicate, something that
was not contemplated in the former
six-power negotiations. Chicago, it is
understood, will play a prominent role
in the new financing plans.
New-York tribune., 1918-07-16
B. r. T. Plan Is
Made Operative
Over 81 Per Cent of Notes
Deposited Under Exten-
sion Agreement

Official announcement was made yes
terday that the Brooklyn Rapid Transit
plan for meeting the company's $751;
$4,000 six-year s per cent notes that
maturcd July had been declared op-
erative, more than ga per cent of the
Issue having assented. The plan pro-
vided for the exchange of 70 per cent
of the notes into new three-year per
cent notes and the paying off of the
remaining 80 per cent in cash by a loan
from the War Finance Corporation, for
which the latter is compensated by tina.
percentage Of the new notes on the
same terms as those accorded the note
holders The statement issued by the
company said:
"The Brooklyn Rapid Transit Com
pany announces to holders of certifi-
Gates of deposit of Central Union Trust
Company for the six-year per cent
secured gold notes of the B. R. T. that
over 81 per cent of the notes have been
deposited under the deposit agreement
Of June 21. SO that the plan set forth
in the agreement and in the company's
circular letter has been declared opera
tive.
"The new notes will, respectively, be
deliverable and payable to depositors
on August Is, 1918, at the Office Of the
Central Union Trust Company, and in
order to afford non-depositing note
holders the same opportunity of becom-
ing parties to the plan, the time for
deposit of notes has been extended to
August 9, 1918. after which date the
offer will be withdrawn"
1t was stated yesterday that por-
tion Of the notes still undeposited
under the extension agreement were
held in Europe.
New-York tribune., 1918-07-16
Cotton Consumption
Decreased in June
There Was Shrinkage Also ID
Mill and Other
Stocks

WASHINGTON, July 15.-Cotson
consumption in this country during
June amounted to 527,464 running
bales, and for eleven months ended
June 80 the total was 6,049,544 bales.
Inns was announced by the Census
Bureau to-day.
Last year in June 574,110 bales were
consumed, and for the eleven-monta,
period 6,250.692 bales. Cotton on hand
on June 80 in consuming establish,
ments was 1862 bales, compares
with 1,743,527 a year ago and in pup
nc storage and at congresses 2lib'
800 bales, compared with 402,4O5
year ago. Cotton spindles active dur
ing June numbered 33,720,413, COM
pared with 33,447, ,037 a year ago. I'M
ports of foreign cotton during Juns
amounted to 30,l94 bales, compares
with 26,l81 a year ago.
Exports during June amounted -so w
273,302 bales, compared with 2ao'avs
year ago. and for the eleven mon'hs
4,256,352, compared with 5,467.4ls
year ago. Linters included in expor.Si
were 9,10i bales for June, compaIssu su
with 20,077 a year ago. and 1or In
eleven months 171,002, compared ~'''
4l6,9So wear ago.
New-York tribune., 1918-07-16

William A. Law, president Of the
First National Bank of Phladel-
phia. believes that government inter
vention may yet be necessary to save
the public utilities from receivership
"The seriousness of the situation has
been increased" he says, "since the
directors OF the War Finance Cor
poration have in almost every in
stance taken the position that they
could not make direct loans. This
Interpretation of its functions re-
stricts the activities Of the corpora
ton largely TO that Of rediscOunt-
ing institution and makes it Of little
service In the vital relief work of a
war market. If this policy is ad-
hered to it ia difficult to see how the
corporations vast lending power
the greatest Of any lending institu-
ton in the country-could ever be
fully availed Of except during a long
drawn out financial crisis. The or
ganization Of this corporation was
proposed as great relief agency.
for resort to by corporations engaged
on necessary work and to provide
credits for industries and enterprises
in the United States necessary or
contributory to the prosecution of
the war Two hundred and fiftv.
two gas, electric, electricity and
power companies showed a gain dur
ing the first quarter of 1918 (as COM
pared with the same months of the
previous yearN of $500, 900 in gross
earnings. But since operating ex-
penses increased $11,226,OOO the
companies reported deficit of So
906, 900"
1t is estimated that 73 cents Of
every dollar received by the public
utility companies goes to pay operat-
ing expenses, and since the ratio is
rapidly advancing the companies
must get increased rates as we'll as
financial assistance if they are to
continue the service which the pub
lie demands.
New-York tribune., 1918-07-16
War Causes Big
Foreign Trade Drop
Exports to Neutrals Decrease
$275,OOO,OOO in 1918 Year

The trade of the United States with
Denmark, Norway, Sweden, The Neither
lands, Spain and Switzerland during
the fiscal year 1918 is the smallest
recorded for many years, while that Of
the corresponding 1917 period was the
facts are disclosed by foreign trade
figures and information made public
yesterday by the National City Bank.
The countries named are the European
lands which have remained neutral
during the war.
The bank compilation shows that
exports to them aggregated in the
fiscal year 1918, about S125,OOO,0 900,
against practically 100000 IN
1917, S32o,0OO,OOO in 1916, $3.50, ,O0O,-
600 in 1915, and S183, 100000 in the
fiscal year 1911, all of which preceded
the war.
Breadstuffs. meats, fruits, food oils,
oil cake, cotton, tobacco, petroleum,
gasolene, copper, iron, leather and
naval stores were normally our chief
exports to the now neutral countries
of Europe. AS all of these countries.
with a single exception, border upon
or are commercially adjacent to Ger
many, it goes without saying that the
exports to them in the articles which
would be required by Germany for
military purposes or otherwise in
creased rapidly after the opening of
the war and continued to increase until
the entrance of the United States into
the war rendered necessary the restric-
ton of the movement of this class Of
material tO QNV and all conp4r;o. fuo..
which it might ".eak" into GERMANY
or any of the Central Powers.
Exports to the Scandinavian conn
tries alone increased from $4,000. 900
IN the fiscal year 1914, to practically
$500, 100000 in 1915, and those to the
entire neutral group, above named.
from $183,00O,0 900 in 1914 to 1882, 600.
600 in 1915 and 1898, 100000 in 1917.
With the entrance of the United States
into the war in April, 1917, conditions
instantly changed, and the exports to
the neutrals, which had been 1925.
ooO, ,000 IN the ten months ending with
April, 1917, dropped to $108,OOO, 900 in
the ten months ending with ApriI.
1918, or just one third that of the
corresponding period of the preceding
year, while for the single month Of
May, 1918, the total to the six neutrals
was but about S8,000,00O, against about
$32,000,000 in April of the preceding
year.
On the import side there is less
change. The total imports into fhe
United States from the six neutrals
were S110, 100000 in the fiscal wear
1914, $122,000,00O in 1917, and will
aggregate for the full fiscal year 1918
about $75,000,000.
New-York tribune., 1918-07-16
Money and Credit

Money rates were firmly maintained
at the beginning of the new week. At
the Stock Exchange the ruling rates
were TO 6ia per cent. with offerings
comparatively small
The market for fixed date funds was
dull and very little new money was
offered. Borrowers continued to bid 6
per cent for loans of sixty days and
longer on industrial collateral and %.
per cent for loans of similar periods
on half and half collateral.
Ruling yates for. money yesterday,
New-York tribune., 1918-07-16
Steel Men Confer
Discuss Prices on Rails and
Agricultural Implements

Readjustment of prices on steel rails,
agricultural implements and other spe-
cialties was discussed at an all day
conference yesterday in the Offices of
the United States Steel Corporation
between Steel company officials and J..
L. Replogle, the steel expert of the
War Industries Board. Yesterdays ses-
sion, it is understood, was one of a
series that will be held here until some
definite conclusions are reached.
Those in attendance included E. H.
Gary, chairman of the Steel Corpora
tion, and James A. Farrell, president:
John A. Topping, president of the Re.
public Iron and Steel Company; f. C.
Grace, president of the Bethlehem
Steel Corporation; A. c. Dinkey. presi-
dent of the Midvale Steel and Ordnance
Company; J. F. Wellborn, president of
the Colorado Fuel and Iron Company.
and E. A. S. Clarke, president Of the
Lackawanna Steel Company.
New-York tribune., 1918-07-16
Bethlehem Steel to
Build Another
Yard on Coast
Will Be Located Near
Baltimore and Cost
$20,OO0,O00

With the Offering by New York
bankers yesterday Of $50,000,0OO new
serial 7 per cent notes of the Bethle-
hem Steel Corporation at an average
yield price of 75s per cent announce
ment was made that the company has
virtually completed plans for the con-
struction of another government owned
shipyard on the Atlantic coast, prob
ably near Baltimore. The cost will
be approximately $2o,oo0,0O0, and the
equipment alone will require an ex-
penditure Of $5,OOO,OO0.
In a letter to the banking group
which has agreed to underwrite $780,
100000 of the new notes on the un-
derstanding that the War Finance Cor
poration take the remaining S20,000,-
600 in the event the entire issue Is
not sold to the public, E. G. Grace,
president, estimated that the Bethle-
hem company's combined earnings be-
charges, and before providing for de-
$50 100000. Fixed annual interest
charges on completion of the new
financing will require about $7,7OO,0OO.
"Thc note indenture," Mr.. Grace
added, "will contain a covenant that
the corporation will not declare or
pay dividends on it's common stock
which will result in reducing net cur
rent assets of the corporation or its
subsidiaries below the face amount of
the amount of notes then outstanding.
"The corporation, through this
financing, the liquidation of s37,600,0 900
British Treasury bills maturing Febru-
ary !, 1919. and appropriations from
earnings, will be placed in funds sufi-
cient to complete the construction pro-
gramme upon which it has been work
ing for the past three years, provide
adequate additional working capital
and pay off the $50,000,0OO per cent
notes maturing February Is, 1919. This
financing when completed will provide
comprehensive and we'll balanced
plants and equipment for manufacture
of q very extensive and diversified line
of commercial steel products"
When the Bethlehem Steel Corpora
tion's present construction programme
is completed the company will have a
total capacity of 100000 ingot steel
per annum, representing about 8 per
cent of the countrv's nresent capaclrv,
md shipbuilding facilities for 1000,
900 dead weight tons per annum, or
about one-third of the present ship
building capacity of the country.
Of the $65O.000,000 orders on the
corporations books less than 1919 pei
cent are for guns, armor plate, pro-
jectiles and similar war material.
New-York tribune., 1918-07-16

Stocks went down easily for a
time yesterday. Then they recov
cred vigorously although early de-
clines were not entirely cancelled.
On the whole, however, the market
performance was satisfactory. The
news of the resumption Of the Ger
man drive, while in no wise sur
prise, for it had been long awaited,
nevertheless furnished a pretext for
selling which was made the most OF
by the professional operators. 1t
was largely the offerings from pro-
fessional sources that caused the
early decline in the market. While the
selling movement was on during the
forenoon hours prices Of some of the
better known industrial shares gave
way three and four points. 1t was
significant, though, that the reaction
LHuC DeCdI1e EetleIdi III ilous hooC Ii'S
list did not cause any excitement or
bring about any important liquida-
ton. The ease with which prices
gave way was due largely to the
fact that there was an utter absence
of buying power. Traders hesitated
about taking chances in adding to
their commitments on the long side,
so that such offerings as came into
the market were not we'll taken. At
ter mid day, however, when more
definite news Of the progress of the
German military effort became avail
able, the speculative element regained
its confidence, with the result that a
vigorous demand developed for
stocks. What happened in the mar
kct is best seen, perhaps, from the
fluctuations Of United States Steel
Corporation common stock. That is
sue opened at 104A, declined to
l0l "a, and rallied at the close to
103A. where it showed net loss of
/ " points on total turnover during
the day of about 10000 shares.
New-York tribune., 1918-07-16
Relevant Comment
Warfield Committee to Meet

S. Davies Warfeld, president of the
National Association Of Owners Of Rail
road Securities, has called meeting of
the recently appointed committee Of
seventy for Thursday at 2:30 p. m. in
the rooms of the Recess Club. The OBJ
jections of the committee to the gov
ernment railroad contract in its pres
ent form, according to present plans,
will be drawn up in the form Of an
amendment and later be presented to
the director general. The two special
committees which have represented the
association in the previous negotia-
tions with the railroad administration
will meet tomorrow. The committee
OF seventy is composed OF officers OF
life insurance companies, savings
banks, national banks and trust COM
panies
New-York tribune., 1918-07-16
Advocates Sliding Scale
Chicago Wants Interest on Out
side Balances Regulated
Especial Dispatch to The Trie%.n,

CHICAGO, July 15.-The executive
committee of the Chicago CLEARING
House Association voted to-day to rec
ommend the adoption of a sliding scale
method of regulating rates of interest
on balance in banks in New York and
st. Louis. Chicago bankers would like
to see the whole situation regulated
IN way that would permit competition
for outside deposits and remove the
source OF unsettlement as to rates in
certain cities, such as Pittsburgh.
balances. 1 w
New-York tribune., 1918-07-16
Corporate Returns

Atlantic and Pacific Steamship Com
pany.-This corporation reports for the
calendar year 1917 net profits of So
l96,4l5, against S2,458,2O4 in the
previous year.
Colorado & Southern Lines.-Earn-
lngs of these road, from January 1 to
July are reported to total s1O.O31.-
619, an increase of $1,149,106, compared
with those for the corresponding
period Of the previous year.
New-York tribune., 1918-07-16
Cuba Wants Knit Goods

A large demand for hosiery ana nm. an~
goods is reported from Cuba. a c.a
sular reports says that the lsfse%s sns
market is for the cheaper grades, ~, Scr
that there is a moderate cal' also ~.
higher priced goods. Silk hosiery s;ns .
not much in request there, accoIuns nrs
to this report. 1t says snnuai impd imspssd
tations of this article do not sAss'-
$4,000. ----~
New-York tribune., 1918-07-16
American Sumatra's Gyrations

The fluctuations in the shares of the
American Sumatra Tobacco company
furnished the sensation of yesterdays
stock market. After the stock had
dropped from the opening price of
1929 to 119 vigorous buying set in.
with the result that the closing quota
tion Of 1868 showed a net gain of 2"s
points above Saturdays last sale. The
wide fluctuations in American Sumatra
are due partly to the limited floating
supply of the stock, there being $4,000
common shares issued. Yesterdays up
turn was attributed mainly to covering
by a short interest which had been
created on the recent decline from
above 14O,
New-York tribune., 1918-07-16
News Digest
Foreign

London Market Steady.-LONDON.
July 15.-With the commencement of the
German offensive to-day the stock mar
ket was only slightly subdued and the
tone continued firm. French bonds
hardened a trihe, but other gilt edged
securities were quiet, as most of the
available money is going into war
bonds. lin shares were higher, while the
except Cunards, which were dull on
the annual report of the companv
Russian mines were more active.
New-York tribune., 1918-07-16
New Securities

The sale of s2,5oo,ooo fivc-year 7 per
cent sinking fund gold notes of the
Peet Brothers Manufacturing Company
has been approved by the Capital Is
sues Committee. The Peet Brothers
Manufacturing Company is a Kansas
of soap and glycerine. Lee, Higginson
& Co. and Ames, Emerich & Co. have
purchased the issue of notes and will
shortly offer them for investment.
New-York tribune., 1918-07-16

Until the result OF the new Ger
man offensive is known little more
than trading market can hardly be
expected in stocks. 1t is generally
realized that this is probably the su-
preme effort of the Kaiser's military
machine, an attempt to break
through the Allied lines and win
decision before the million American
troops in France are all ready for
the firing line In the face of the
huge scale of TIC new German opera
tion II is not surprising that the Sc
curity markets should slow down and
await developments. Indeed it is the
best thing that could possibly hap
pen.