davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1918-03-23
I transportation
Still Remains Chief
Check ON Business
Weather Conditions Heighten
Spring Demand for Goods
in the Retail Trade

A general fabrication Of the business
machinery of the country, with the
possible exception of the transporta-
ton industry, is recorded by OBJ
servers of conditions. The coming Of
spring has heightened the demand for
goods, and selling concerns continue to
adjust their sales to government needs
"Movemcnts in business have con-
tinued mainly in the right direction"
says "Dun's Review" in its survey Of
the week, with steady acceleration Of
manufacturing and distribution and a
quckening Of retail demands under
favorable weather conditions. The de-
velopment Of spring trade, while limit
ed by the various war restrictions and
the economies of the period, is salts
factory in many instances, and finan-
cial obligations are now met more
promptly as shipments go forward to
points of destination with less general
interruption.
at is significant Of the skilful man
agement Of the banking situation that
flurries in money rates, nothwithstand-
ing the magnitude Of Federal require
ments, everywhere remain absent, and
there is a growing disposition to dis
courage speculative .eXcesses in all
quarters.
Official action to regulate commod
ity prices is also widening in its scope,
and further downward revisions are
foreshadowed, although advances still
predominate, and there are compara-
lively few markets in which sellers are
at disadvantage. While some buy
crs continue to hold off as far as pos
sible in the expectation of lower quo
tations, the difficulty of obtaining raw
materials and products is more Of a
brake on new business than any qucs-
tion of prices, and manufacturers are
increasingly reluctant to accept orders
from regular channels because Of the
great pressure of demands from gov
crnihcntal sources. With the better
working conditions, the recovery in
outputs has made apprcciabe head
way; at many plants full running is
not yet feasible and the drawbacks
in transportation have by no means
vanished, though accumulations of
freight gradually diminish and more
tonnage is now available for overseas
According to "Bradstrect's >" "the two
great salient features of the week arc
TIE large number of reports of INSULT
cient stocks in hands of jobbcrs, final
distributors and manufacturers and
the advices that despite Improvement
noted at few centres where grain
movement has been and is large, the
country's railroads and railroad ter
minals arc still congested. and that the
opening of water routes is longcd for
to lift some Of the burdens of super
abundant traffic That governmental
buying dominates everything is hardly
worth repeating. Buying for the war
will continue to override all other
factors, and within short time a move
ment of relatively mammoth proper
tions is to be set afoot by the ord
nance department. On the other hand,
the priority rights given to filing of
governmental business are working
hardships on q number Of lines. and
railway embargocs imposed on various
kinds of goods cause some o-called
non essential plants to work at a slow
pace"
New-York tribune., 1918-03-23
New High Records
Are Established
In Cotton Market
Growing Trade Demand
and Covering by Shorts
Aid Movement

II was a nervous, excited market
that the cotton men traded IN yester-
day. The day was the last for March
business. March notices exceeded eX-
pectations, reaching 5000 bales, but
that delivery maintained premium OF
120 points over May until trading IN
it ended at midday, and later May con-
tracts sold up to 1915, or "a points
net higher, with the general list clos
ing steady, net points lower to "a
points higher.
The tendency to establish record
prices for the season in the cotton
market was unchecked. The chief ad-
vances over the prices of the previous
day were recorded by the near posi-
tions.
The brokers gave a simple explana-
tion for the striking shift upward OF
prices. The chief factor was growing
trade demand. made articulate by men
who wanted goods, and lots of them
irrespective Of costs. Closely related
to this, according to the philosophers
of the market, was the covering of the
shorts, who came sadly to realize that
the sudden break they anticipated was
not forthcoming. The continuous re-
ports of lack of rain in Texas inten-
sitied the movement as it led to the
belief that perhaps the crops would be
disappointing.
Early in the day there was dis
position, however. to take profits on
long contracts, which was shaped by
news of light showers in the South
west and discussion of possible price
regulation. The opening was un-
changed to points lower, and, after
some irregularitv active months sold
II to 20 points under Thursdays clos
ing figures.
On the decline trade interests we're
good buyers Of. May. and early sellers
were disappointed further by the Of
fetal western belt forecast for gener-
ally clear weather. When they turned
for cover contracts were scarce until
active months were some II to 80 points
net higher. Later fluctuations were ir-
regular under realizing, with the close
showing reactions of s to II points
from the best
The trade buying of May was ac-
companicd by reports that there is
still large interest outstanding
against call cotton. Southern interests
were credited with buying here to undo
hedges against spot transactions, but
Liverpool was not as active as earlier
in the week
New-York tribune., 1918-03-23
Money and Credit

In quiet market call money eased off
az the stock Exchange again yesterday,
the ruling rate being ~ per cent, com
pared with 5 the day previous. The
opening rate was ~, the high AZ, the
low 3h and the close sA. Offerings by
the banks we're fairly liberal
a few renewals Of thirty and sixty
day time loans, based on MIXTURE Of
railway and industrial securities az col
lateral, we're reported yesterday on g
per cent basis. Otherwise the market
for fixed date funds ghowed no change,
with offerings continuing 10 fall far
short of the current demand.
Ruling rates for money yesterday,
New-York tribune., 1918-03-23
u. S. Leads in Fisheries
Nearly 100000 Persons Af'
Engaged in the Grow
ing Industry

The settlement Of the long ng nsds s.sd and
fisheries dispute between S;s5 '1tssnsisn 1snaas TO
the United States calieu u0nntries n, pro-
duce due @ oncfourth Of the recorded lss now now
of the world. The United d.. a,a'a and the
leads the world in its fish oqspu.'a lpp;lsa States
waters of Canada and the Cn'seu men $780,
ooc }G Soo worth Of sh year Il a1lss
as whole. according to cT3"rk Rapk the
made by the National CO c''y yI.tess esss, avail.
recorded ish crop ROB n noo coo,
In the United States the ,;e, vessels
vested in fisheries. including land IN
and the establishments Oh 0nmornts 70
which the fish are handledl LED aareors amea are
SIS. 900 900. Nearly 22o'oov ge.h the value
ENGAGED in the industry ana ~, ,"l hy tho
Of the sea products turned m aasashes sS, $50.
canneries OF the country r y.,ons fs~s amounts
100000, of when ~dn aSa sd'ar sardines approx
matelv to $1,000, 900.
New-York tribune., 1918-03-23
Pig Iron Output

The official report Of the American
Iron & Steel Institute, covering pig
iron production in the country in 1917,
was issued yesterday showing an out
put last year Of Ss,647,397 tons, com
pared with 39,434,797 tons in 1916, and
29,9 6,2l3 tons in 1915. In 1900 pro-
duction Of pig iron in the United States
amounted to l3,7S9,242 tons. Last year
Pennsylvania led the states with an
output Of 15,539.72S tons. Ohio was
second in the list with total of S.
S,6O3 tons Of pig iron produced.
New-York tribune., 1918-03-23
Sinclair Oils Condition

Publicity given yesterday to what
was termed the unfavorable financial
condition Of the Sinclair Oil e. Rein
ing Company brought forth a declara-
ticn from the corporations offices to
the effect that the published state
ments were misleading. The infer
ence drawn from the company's bal
ance sheet as of June 80. 19i7. tnat
new financing was necessary, was de-
MED. 1t was stated that on September
80, last current assets amounted to
SlS,7o0000. compared with current liza
blities of $S,S50,000. 1t was also
stated that the company had overcome
previous transportation difficulties
through the opening up of the S00-mile
pipe line from the Oklahoma and Kan
sas OIL fields to the Chicago refinery
New-York tribune., 1918-03-23
Ford Surplus $131,6O4,9O7

The condition of the Ford Motor
Company on July 81, 1917, as disclosed
by statement filed with the Massa-
chusetts Secretary of State, showed
cash and debts receivable of 64,619,-
763, compared with s53 064,76O on jan
uary II, 1917. The value of machinery
and equipment increased from $12 ,445,-
377 to SEE, 5,637,959, while there was an
increase in investments from S137, ,547,-
03S to $165 5,975.002. The company's sur
plus on July 81 stood at S131, ,6O4 9O7.
compared with $120,000,256 on Janu-
arN II.
New-York tribune., 1918-03-23
Dyestuf Makers Organize
TO Form Open Price Associa-
ton in the Trado

The newly formed Association Of
DyestuFs Manufacturers, it was ascer-
tanned yesterday, is planning to have an
open price association, such 81 has been
tried IN the steel trade. 1t is being or
ganizcd under the direction Of II A.
Danner. who is secretary Of the open
price association Of the National Asso-
citation OF Binishers Of Cotton Fabrics.
Under the proposed plan the various
members Of the association Will file
their selling prices with the secretary,
and through him each member will know
what the other is charging.
New-York tribune., 1918-03-23
Foreign Bonds Quiet

Foreign government bonds reflected
no anxiety over the outcome of the
much heralded German offensive.
There was little activity in either the
Anglo-French 5s or the United King
dom issues, and their general tone was
steady. On the other hand, the Lib
erty Loan first and second As showed a
declining tendency in more active
market. The former opened at 96S4
and closed at 9G.3S. The opening sale
of the second 4s was at 1886, with the
last transaction at 96.S0 Bankers and
bond men did not credit reports circu-
lated late in the day that the next loan
may bear per cent. They still ex-
pressed confidence that the rate will be
4 Y per cent.
New-York tribune., 1918-03-23
What Price Fixing Does

The situation is vividly illustrated
now in my state. where the Fuel Com
that makes it impossible for the small,
Independent miner to produce coal c1
cept at loss AS result, during the
last week ffty-two mines have shut
down, and as a consequence our coal
output is reduced more than $4,000
tons a day. 1t is good illustration
of the manner in which arbitrary in
reference with the law Of nature /
think I do not so too far in calling it
that-wll Ex-senator Thomas,
of Colorado.
New-York tribune., 1918-03-23

Bethlehem Steels net earnings in
1917 were s53,979,36o, or about six
times as large as the earnings in
1913, but not all, or even the major
part, of this enormous increase can
be attributed to higher prices, for
the service rendered by the COM
pany. measured by the average num-
Der of workers on the payroll, was
more than four times as great last
year as it was in 1913. incidentally,
the average annual wage during the
period increased from 1888 to ST.
296, Or 46 per cent. Compared with
1916 the increase was 5000, or about
20 per cent. Gross earnings pee
worker, however, were practically
unchanged.
New-York tribune., 1918-03-23
Dollar in Foreign Exchange

London sight drafts sold in the local
exchange yesterday at-thc highest level
in months, when dealings were re-
ported in demand sterling at s4.75as,
an advance of 70 from the day before.
Cables were unchanged at $4.76iIs.
French exchange rates were also
slightly firmer.
Neutral exchanges continued to dis
play strength, with peseta checks
quoted at 20 12 cents, a new high record.
Guilders were unchanged
Closing rates yesterday, compared
with a week ago, follow:
Quoted dollars to the pound.)
New-York tribune., 1918-03-23
In the Face of the Drive

1t probably was no more than a CO.
incidence, but it was fact that at-
tracted more than passing notice yes
terday, that the rate on demand sterl-
ing in this market should have ad
vanced to the highest price in months.
at time when Germany was apparent
~ starting the long-expected and wide
ly advertised drive on the West front
London sight drafts sold as high as
s4,,o2s, 4, an advance of "a, compared
New-York tribune., 1918-03-23
Changes in Dow-Jones Staff

Clarence w. Barron, president of
Dow, Jones & Co., gave a dinner Thurs
day evening Mt the Waldorf Astoria
to more than sixty members Of tho
staff of Dow. Jones & Co. and tho
"Wall Street Journal" Announcements
was made Of the appointment of w. p,
Barclay as managing news editor. to
succeed the late james Reilly; and w,
F.. Hazen and f. G. Van Dyke as spe-
cial assistants in organization and ns-
signments.
New-York tribune., 1918-03-23
Sharp Rise in Price

About a month ago the rube notes
sold in the New York market at a8A
cents to the ruble Ga ruble is normally
worth 51.2 cents). Since then, how
ever, in response to heavy buying by
spectators, the price has risen sharp
ly and yesterday bankers quoted 12A a
13 cents per ruble. The opinion was
expressed in international banking
circles that the stoppage OF imports Of
rublc notes from the Far East will be
likely to bring about further rise in
their value
New-York tribune., 1918-03-23
Elections

A. W. Hawkes. has been elected vice
president and director OF the board
of the General Chemical Company, sue.
ceeding J. NJ tioetchus. resigned.
William H. English, president Of
the Empire Trust Company. has been
elected a director of Everett Heaney
G. Co., succee ding Paul S. Sheldon, re-
signed.
New-York tribune., 1918-03-23

The balance sheet of company
which is soliciting subscriptions for
stock with many alluring promises
shows total assets of S10,O0O,OOO, of
which about s9,0O0,0OO consists of
that vague but convenient item,
patents, goodwill, ETC." 1t is an
interesting contrast with the state
ment of Mr.. Henry Ford's motor
company, filed yesterday, which
shows total assets Of s165,975, 1000,
including s66,637 for patent rights
and no mention at all Of goodwill. y
New-York tribune., 1918-03-23
MIR. Rcqua On a Journey

Mark l.. Requa, director of the oil di
vision of the United States fuel admin
lstratlon, left last night for Washing
ton, after spending the past week here.
Mr. Requa next week will attend the
annual convention, in Chicago, of the
Western Petroleum Jobbers' Associa
ton and is scheduled to address the
meeting on the general oil situation
A. c. Bedford, of the Standard Oh
Company of New Jersey, will also speak
before the Western oil men
New-York tribune., 1918-03-23
Bohemia Savings Increase

Reports frcm twenty ,.y,ant , Bohemls
banks scattered throus"DO "DOscember 81
show total deposits on iSi7&oaS,-
1917. of Saa.o6o,ooo croN"' against DE-
556 ut normal exchange "s Tslss,sl,-
posits OF 6SS,26o,ooV eroMs' oSs sn incresse
lT6) on December 81 iy.u, ss.s Taa.0Sol, 81
Of 92o, o,soo.oO0 crowns lss''
SAG per cent.
New-York tribune., 1918-03-23

Relevant Comment
Russian Currency Barred

Banking houses which have recent
ly engaged in the importation into
this country of Russian government
ruble currency notes have been asked
by Fred l. Kent, director Of the divl-
sion of foreign exchange Of the Fed
cral Reserve Board, to cease all deal
ings of this character. 1t was stated
yesterday that the Reserve Boards
objection to the continued importation
OF Russian paper money was based on
its desire to protect the country's in
ternational trade position.
According to the estimate of Wall
Street house which has been active
in creating a market for the Russian
currency, approximately 30,000,O00 ru-
bles Of these notes have been imported
into the United States from Japan in
the last year or two. Of late prac-
tically all the local banks have been
heavy dealers in the notes, transac-
tions between them for hundreds of
thousands of rubles not being an un-
New-York tribune., 1918-03-23

The most significant feature of
"Bradstreet's" weekly. report on
trade conditions is the following:
at is evident that buying is being
confined to essentials, for jewellers,
dealers in automobiles, brewers and
manufacturers Of toilet preparations
complain of business"
New-York tribune., 1918-03-23
Dividends
tXtrdS

McAndrews & Forbes Company
extra dividend of y per cent on the
common stock mas been declared, in
addition to the regular quarterly divi-
cends of l Z per cent on the preferred
and z per cent or the common stock.
all payable April Is TO stockholders OF
rncnrG NJ Alnrch II
New-York tribune., 1918-03-23

The above rates express the cost of
foreign money in terms of the Amcri-
can dollar. You buy an English pound
sterling at, say, s4.75}s. The intrinsic
parity is s4.86M per pound. Thus you
say either that pounds are at discount
or that dollars are at a premium. which
is owing to the fact that in England
the demand for dollars with Viii. to
settle accounts in this country is greater
than the demand in this country for
pounds with which TO settle accounts in
England.
New-York tribune., 1918-03-23
Counters for Gambling

Recently the market for the Russian
notes became little more than a huge
gambling affair, and Chicago interests
are said to have plunged heavily in
the purchase of these notes. In San
Francisco also a large market was de-
veloped by Scandinavian banking in
terests. Most of the notes that have
made their way into this country have
come from China and Japan, the COM
mercial people in those countries hav-
ing accepted huge amounts of the
paper money in payment for goods sold
to Russia.
New-York tribune., 1918-03-23

Southern spot markets as officially
reported were unchanged at so points
higher. Exports were reported at
20.500 bales.
New-York tribune., 1918-03-23

Below is given the current exchange
value of foreign money in dollars AMI
cents, together with the intrinsic gold
parity, as calculated by the United
States Mint:
New-York tribune., 1918-03-23

Sub-Treasury.- banks lost $685.
900 to the Sub-Treasury yesterday.
Silver.-Bars in London were quoted
45d, an increase of I'D; New York.
907sc, up 1c; Mexican dollars, 731ac, an
advance of q
Bank Clearings.-Clearng House ex-
changes this week at the principal
cities of the country aggregated s5,125,-
215, OH, an increase of IT per cent com
pared with year ago. according to the
compilation of R. G. Dun e. Co
Bank of France.-PARIS, March o.
The weekly statement of the Bank of
France showed the following changes
from week ago. in francs:
Gold 80. 5.372,2oO.O0 Inc. 100000
Silver. 255,7oo,oOO Dec 100000
Circulat'n 24.824 100000 Inc $4,000 600
Deposits. 2,740,600.000 Inc 142,50o,o00
Loans and
discounts 3,2ss, 100000 Dec. 21,soo, 600
Treas dep 55,10o,oO0 Inc 16,3oo,oo0
London Money Market.-LONDON,
March 22.-Money, 34 per cent: dis
count rates for short and three months
bills. 9-16 per cent; gold premium at
Lisbon, 125.Oo
Paris Bourse.-PARIs. March o.
Trading was quiet on the Bourse to-
day. Three per cent rentes, 81 francs
for cash; exchange on London, 27
francs 20 confines; per cent loan, SS
francs 20 centimes
New-York tribune., 1918-03-23
Corporate Returns

Everett Heaney & Co.--Nct profits
TOR the year ended December 81,
1917, were s6SS,739, compared with
$544,545 for the preceding year. After
10 per cent dividends and setting re-
serve for taxes aside of s2l9,0l9, a
surplus remained of $264,719.
New-York tribune., 1918-03-23

Commercial Paper.-A fair volume Of
business was done yesterday, with
choice paper being discounted al 6 per
cent.
Bank MISUNDERSTANDING to the
large demand for acceptances in recent
days, the available supply of eligible
member bank bills has been nearly
cleaned up. Rates were unchanged yes
terday
Discount Rates.-Ofticial rates of dis
districts are as follows:
New-York tribune., 1918-03-23

If the wages of railroad employees
are increased $350,OO0,oOo, as it is
reported they will be, then freight
and passenger rates should be raised
enough to meet the greater cost of
operation. The railroads should be
made self-sustaining while under
government operation, and it had
better be through increased rates
than increased taxation. Higher
rates would, incidentally, have Il
tendency to discourage useless travel
and to induce shippers to use freight
space more economically.
New-York tribune., 1918-03-23

Bank Clearings.-The days bank
clearings at New York and other cities
were:
Exchanges. Balances.
New York. -. $485, ,461 ,283 $52,54O,213
Boston. ....-. 42,510,27O 6,073,e26
Philadelphia. 54,557, ,682 8,765,353
New-York tribune., 1918-03-23

The German attack in France
caused scarcely a ripple in the stock
market. The explanation for the
markets unresponsiveness is simple
everywhere there is faith that the
drive cannot succeed. The slight
decline in stock and bond prices yes
terday was probably due more to
disturbing reports that the third
Liberty Loan would bear only per
cent interest than to the war news.
1t is an interesting and perhaps sig
nificant fact that the foreign gov
ernment and municipal bonds were
generally stronger than the Liberty
issues.
The Greeneville daily sun. (Greeneville, Tenn.) 1918-1920, 1918-04-06
DEATH OF OSCAR BACON.

Mr.. Oscar Bacon, aged about 40
years, died at his home near Bright
Hope Friday night. Mr.. Bacon had
been i'll for some time with a compi-
cation of diseases. He was a pros
porous farmer and a good citizen. In
terment will take place at Bewley's
Chapel to-day.
The Greeneville daily sun. (Greeneville, Tenn.) 1918-1920, 1918-04-06

Mr.. Joe Martin, the stock man, is
here from Jockey today, and renewed
his subscription to the Sun, also paid
for it to be sent to friend at War
renton, Va. Mr.. Martin tells us he
shipped two car loads of fine cattle
to the Virginia markets yesterday,
sixty-hve head in all, which cost him
in round numbers $5,06S. They were
said to be the best cattle that have
been shipped from this section for
come time.
The Greeneville daily sun. (Greeneville, Tenn.) 1918-1920, 1918-04-06

Mr.. Frank Leming arrived in
Greeneville Friday afternoon from
Brazil and will spend few days here
and at Tusculum with relatives and
friends. Mr.. Leming has been doing
government contract work in Brazil
foY& the past few years and returned
to the States to offer his services to
the government in some other branch
of the service, being unable at this
time to get supplies to that country.
The Greeneville daily sun. (Greeneville, Tenn.) 1918-1920, 1918-04-06
SOLDIER TRAINS ARE
GOING THROUGH

Soldier trains have been passing
through Greeneville at intervals of
every few hours for the past day or
so. The destination of the troops is
unknown, however it is generally un-
derstood that they are composed of
boys from the various training camps
throughout the country, being moved
to points East for embarkation for
France.
The Greeneville daily sun. (Greeneville, Tenn.) 1918-1920, 1918-04-06

Major and Mrs. Cy Lyle left yes
terday for Rochester, Mimi, where
Mrs. Lyle will receive treatment at
Mayo Brothers hospital.-Johnson
City Staff. 1t will be remembered
that Mrs. Lyle was in the Greeneville
hospital until few days ago.
The Greeneville daily sun. (Greeneville, Tenn.) 1918-1920, 1918-04-06

DO YOU WANT TO BUY A BAR
GAIN?-If SO, | have a $4,000
York Piano which is sold by Lynn
Shelley, of Morristown, Tenn. The
parties who bought this piano have
purchased Keller & Sons player
from me and l will sell this York
Piano at bargain. The piano has
not been used but very little. Write
me at once, Box 2e4, Greeneville.
wk46-4t. A. ]. DRAPER.
The Greeneville daily sun. (Greeneville, Tenn.) 1918-1920, 1918-04-06

If you intend opening a store or
need any fixtures for your store, it
will pay you to see Troy Vann. He
has show cases, cash registers, Nc
Caskey account registers, cheese cut
tiers and cases and almost anything
that it takes to open up store.