davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1918-10-29
/ n d u S tri al
Cotton

Violent fluctuations took place in
the cotton market yesterday and diff
ference of more than cent a pound
between the high and low prices of
the day. Early advances on bullish
weather news and reports of improv-
ing peace prospects were followed by
Il sharp break, with December selling
off from 30.7O to 1892 during the
early afternoon. A rally of about 40
points followed, but was not main
tanned, with December closing at 29.70
and with the general list closing
barely steady at a net decline Of SO
to So points.
he action Of the market was taken
IN some quarters as rejecting an un-
favorable view of peace prospects, but
the late rally seemed the result of
report that Austria had surrendered,
which did not harmonic with this ex,
planatlon. The effects of the heavy
rams and sharp drop in temperatures
reported in the Southwest were be-
!leved to have been minimized by the
TACT That an unusually large percentage
OF the crop had already been picked.
and the outlook for clear and warmer
weather helped the reaction. On the
whole, however. the irregularitv Of
prices was considered largely the re-
suit OF technical conditions, as general
business was quiet and the market was
lnnuenced by comparatively small or
ders either way.
The market opened firm at an ad-
vance of II to % points and before
the end Of the first hour sold 32 to
"a points net higher. 1t looked as
though the more urgent demand from
shorts had been supplied on this ad-
vance Of about $50 to ITO points from
the low levels of last week. and as
soon as this buying subsidcd the mar
ket turned easier. There was a dis
position to question whether the freez-
ing weather reported in Oklahoma had
worked low enough to hurt top crop
prospects in Texas, and the market on
the whole seemed to be little impressed
by the unfavorabie weather. There
were no exports reported for the
day, Southern spot markets as Off
clally reported were 80 points higher
TO oO points lower.
The range of prices:
New-York tribune., 1918-10-29
Colorado Fuel Income
Earnings Reveal Sharp Fall.
ing OF

The Colorado Fuel and Iron Company
in its income statement issued yester-
day for the quarter ended June 80 last
reported surplus after charges, taxes,
depreciation and preferred dividends of
S42S,699. equivalent to $125 share on
S34 ,235. 800 common stock, compared
with S3.11 a share earned in the pre-
ceding quarter and $1.59 a share earned
in the sponding period of 1917.
Gross earnings for the June quarter
were S12,320, ,507, contrasted with siO.-
AL ,420 for the corresponding quarter
last year. The decline in net was
caused by an increase of S1,9O6,329 in
operating expenses.
New-York tribune., 1918-10-29
Steel Meeting To-day

United States Steel Common was sold
heavily by traders yesterday in the be-
lief that directors at the quarterly
meeting scheduled to take place to-day
might reduce the distribution of earn
ings to stockholders, which for nearly
two years has amounted to II per cent
annually. These same traders in the
past have often been wrong in their
efforts to anticipate action by the
Steel Board. The individual members
of the board maintained their usual
silence regarding the announcement
that will be made after the close of the
stock market. In addition to the dec
laration of dividends this will include
a compilation Of the earnings for the
three months ended with September.
Steel common closed at 1OS1a yester-
day, net loss Of rs points, on
turnover of more than 10000 shares
New-York tribune., 1918-10-29
Neutral Exchanges Weak

The text Of Germany's latest reply,
the report that Ludendorff had re-
signed and advices purporting to re-
veal that Austria Hungary had accept
ed the Presidents revised peace basis
naturally found reflex i'll the finan-
cia district. In the foreign exchange
market, which reflects opinion in all
parts OF the neutral and allied world:
neutral exchanges moved in favor Of
New York. On the average. the rates
on neutral countries declined per
cent. The weakness of war stocks"
in the Stock Exchange and the unset
tlement Of the commodity markets We're
also in part due to the new military
and political developments OF the war.
New-York tribune., 1918-10-29
Relevant Comment
Market Technioue-and the War

The stock market seemed to be af-
fccted more by the restraints OF the
money committee yesterday than by
the news, political and military, from
overseas. The market opened strong,
with advances over Saturdays close
of from u to / point. but toward noon
a decided reaction took place. and
prices recedcd from 3 to points.
Toward the close there was partial
recovery. Competent observers OF the
market attributed the decline largely
to the will of the money authorities
to make houses which had overextend-
cd themselves bring their loans to the
required standard. 1t was reported
IN some instances that loans had been
CALLED. Although both industrial and
railroad stocks participated in the set
back, the war stocks were the, weak
est, as they had to contend with
peace" reports as we'll as technical
market factors.
New-York tribune., 1918-10-29
loney Market Firm in London
Dollar in Foreign Exchange

.NeutraI exchanges moved in favor
of New York yesterday in this
market. The various signs that the
Central Powers are weakening, in the
opinion Of bankers, caused the down
ward movement, which averaged about
/ pvr cent. The German reply, Luden-
dorff's reported resignation, and the
reported Willingness of Austr Hun
gary to accede to President Wilson'S
peace requirements were said bv
bankers to have directly affected the
market. The volume of trading.
though somewhat more active than in
recent days, was nevertheless rela-
tivelyy small.
Closing rates Yesterday. compared
with q week ago, follow:
Quoted dollars to the pound)
New-York tribune., 1918-10-29
Where Heed Is Not Taken

When the money committee, in its
statement last Thursday, said in effect
that there had been undue speculative
activity it was thought that the wild
gyrations in Mexican Petroleum would
subside at least for time. Instead
this stock advanced points on Friday
and 1919 more in Saturdays short ses-
sion. Yesterday the price moved up
II points more to 1877 before a reac-
ton carried it back at the close to
1761a. There is a growing sentiment
in conservative brokerage quarters
that these rapid fluctuations are the
result Of pool activity in the stock and
that the Stock Exchange business con-
duct committee should make an investi-
CATION in view of the fact that there
has been no official explanation of the
recent remarkable rise.
New-York tribune., 1918-10-29
Corporate Returns

Delaware Hudson Railroad
September gross. s3768, $50 Inc. s1.o35 ss7
Net oper. income. 1,21O l47 Inc 666 9d5
Nine mos. gross 26.o82 5e5 Inc. 3 ssI ao2
Net oper income 3O28. 997 Dec. / 84e O35
Pennsylvania Railroad Company
dimes EasN
Sseptember gross. s37, .221 Inc $40 74a.73e
Net oper income 3,747,956 Dec 2o65,553
Nine mos gross 2e3 29o,512 Inc 46 81 1s7
Chicago. Burlington Quincy Railroad
Net oper. income ,4s8, ,357 Dec 1.532' 'ea9
Nine mos. gross. 1o4.o32,713 Inc. 13,801 '664
Net oper. income. 17,122.479 Dec e,8s8' 1873
Chicago. Milwaukee & ST. Paul Railroad
September gross. s13, ,3e2,21e Inc. s555 21e
Net oper. income. 1851 Inc. 55o16
Nine mos gross eA,274.315 Inc. 11.of11a5
Net oper. income. 4939, 322 Dec 1o,75a'573
Chicago & Northwestern Railroad Comnanv
September gross. s13 3l4 ,959 Inc IS 1855 s5a
Net oper income. 2,3O3.987 Dec 347 7Go
Nine mos gross. 91,427 ,oet Inc. II. .esos33
wet 0pef' income. s,o93'Ios Dec. 1881. .e26
Lehigh Valley Railroad
September gross. s6.4o7, $40 Inc. s1.7os a71
Net oper. income. 1,198347 Inc 2a7 ans
Nine mos gross. AZ, 1926 831 Inc
Net oper income. 4.o44,63e Dec. 1858, 3s1
Pennsylvania Railroad
Lines WesD
September gross. So, ,336.261 Inc sc4ts ooo
Net oper income. 1902 De- 51osSo
Nine mos gross. 67,O ,OO6 846 Inc 341o 9da
-'eO ope'' income. e.5o1.4Il Dec. 6.i29 ,864
Twin City Rapid Transit
September gross. s826,75s Dec. s2o ZAP
SriI M. "ltel cnarees s0'1o5 Dec. a. 1865
Slne S mos; gross. I,2ss.o15 Dec. 432 5e1
Sur. aft. chgs.. etc. o32,65O Dec. SAY al
New-York tribune., 1918-10-29
Government Railroads Nav
Pool With Independent Lines

WASHINGTON, Oct. 2s.-Pcrmis-
sion to railroads under Federal control
to establish new joint rates and charges
in combination with non-Federal con-
trollcd roads, without application for
authority, though. of course, subject to
review, was granted by the Interstate
Commerce Commission to-day, at the
request of the railroad administration
Heretofore it has been necessary to
obtain permission in advance for each
rate so established.
New-York tribune., 1918-10-29
Copper Stocks Hold Gains

Leading copper stocks in yesterdays
earlier trading were bought with a
consid cradle show of enthusiasm ap-
parently on the assumption that con
tinuation of the present fixed price Of
26 cents pound for another Three
months would assure large earnings
over that period. Despite the reac-
tionary tendency of the general list
for the greater part of the day several
issues showed gains at the close, Ken
necott being the feature with rise
of "a points; Chile copper ended the
day at 221s, an advance Of u, while
Utah closed at go, up /.
New-York tribune., 1918-10-29

wrongful repercussion or the war
work of the country. 1t is not be-
yond possibility that this flood of
rumors, and, in fact, the whole of
the peace proposals, may have been
engineered in part for just this pur-
pose.
New-York tribune., 1918-10-29
Packers Hides Reduced

WASHINGTON, Oct. 28.-A reduction
of one cent pound in price of pack
crs' hides and three quarters of a cent
a pound on country hides for the
months of November and December.
and reduction of two cents a pound
on packers hides and one and one half
cents a pound on country hides for the
month of January was agreed to to-
day by the price fixing committee of the
War Industries Board and the hide in
1l1etrv
New-York tribune., 1918-10-29
Betting on Peace

IN addition to the market barom-
eters, a wave of gossip and rumor
also swept over tho Street. Uncon-
firmcd reports to the effect that the
government had made significant re-
adjustments Of its war contracts
spread, but on the lack of veritication
careful observers were unwilling 10
accept them as in any way trust
worthy. Moreover, the newest man
Uuvres on the part of the Central
Powers led to the offer of bets on
when the war would end. A customer
of curb house offered to wage $1,000
against $4,000 that there will be ces-
sation of hostilitics by November 10.
He had offered a fortnight ago to bet
ST 900 against $500 on peace before
CIV; c+
New-York tribune., 1918-10-29
> u S t e n a nee
Cereals

"heat:-The visible supply of wheat
in the United States continues to in
crease, the gain last week beirp s
996,0OO bushels. This brings the total
to 1l3 sos, 5000, which compares with
l4,524,o0O last year Grain elevators
throughout the country are bursting
"ith supplies, while warehouses are
Sroanlng under tremendous stocks Of
nour. Under the circumstances. it
seems inconsistent for the food ad
hi'nlstratlon to insist upon further
evident, however, that the Admins
tratlon takes very broad view of the
situation and has IN mind the millions
or people TO be fed in Europe The de-
mand abroad is expected to be fully
capable of absorbing every bushel Of
wheat America has for export, and to
meet the needs economies must con-
tlnuc at home. The steady advance
OF the Allied armies and the liberia
tlon of the starving population over
large area as we'll as the thousands
the increased number of troops being
sent abroad are all factors which con-
tribute to the tremendous respons-
bIllty America has in connection with
supplying foodstutfs.
COrn.-The corn market was nervous
and feverish owing to the nature of
the war news. The volume of bust
ness was only moderate and largely
of an evening-up character. Longs
sold quite freely, and during the
greater part of the day values were
at lower levels, closing with net
losses of &c to 212c. Opinions
seemed to differ as to whether or not
present price levels discount the eff
feet of peace. and many believe that
the action of the market when the big
peace news finally comes will denen5
largely on technical conditions. from
a supply and demand point Of view
the situation presents an uncertain
outlook. The new crop is about 10
move. If the government decides to
carry out its policy of buying corn
Tor export and is willing to absorb
liberal quantities the trade believes
lnaI prices viii be maintained around
the level which the government is
wiling to pay. On the other hand
the disposition of tonnage is an i'm
portant factor. and some think that
the big supplies Of corn in Argentina
and low prices prevailing there. will
attract a large amount of foreign de-
mand as we'll as tonnage. Receipts
at the West were of fair proportions
but despite the complaints of poor de,
mand the visible supply decreased
448,ooO bushels for the week, bringing
New-York tribune., 1918-10-29
Other Cities

Copper Price Continued WASH
lNGTON, Oct. 2S.-President Wilson
to-day approved continuance of the
present price of copper at 26 cents a
pound until January !. The normal
period for which the price would be
liked is three months, but the present
price is continued for two months
without a meeting of the industry be-
cause of the influenza epidemic.
New-York tribune., 1918-10-29
Hay and Straw
Coffee, Sugar, Tea and Cotton
seed Oil

Coffee Futures.-There We're rumors
i'll the coffee trade yesterday that plans
for liquidating futures and releasing
hedges had been pretty we'll formu-
lated. A special meeting Of the board
of managers, held earlier IN the day
was supposed to have been called for
the purpose of considering suggestions
along that line from the food admlAss-
tration No announcement was made
however, and business renamed al
standstill in all departments, with the
spot market quoted entirely nominal at
1925 for Rio Is and 1914 for Santos As
Owing TO the situation as to imports,
no firm offers are being received here
from Brazil, but the bullish view OF
peace prospects was probably reflected
il the futures market at Santos. which
was 200 to 800 reis higher The Rio
spot market was so reis higher. but is
is believed that holiday conditions pre-
vail at that point, and no receipts were
reported According TO press advices the
Spanish influenza epidemic has prac
tically stopped business in Rio and
work on steamships anchored in the
karbor has been suspended owing 10
the lack of labor. 7 Santos reported
clearance of $1,000 bags for the United
States. Santos receipts were $4,000
and Jundiahy receipts we're 27000
against $4,000 last year
Cottonseed Oil.=The market was de-
void of new feature and business was
still of r,utine character. Offers
have not increased as rapidly as ex-
pected and the movement of crude oil
has apparently been affected by labor
conditions.
New-York tribune., 1918-10-29
Livestock, Meats, Provisions

Following Yesterdays prices compared VITA
l.lose .. year ago.
Yesterday year ago
i-.7e steers. best
100 ID. 80. $3.50 as7.oo ss.25 Gsis5O
Dressed beef sides
H. ............ 1870 % I2tsG ~
L.ve veais best
loo lb 1900 @ 2loo 1850 1875
Dressed veas. city.
1avs ewes 100 lb $50 a 1850 7.5o q 100
PRIME. 100 ID. I4so q 1878 1900 l7.25
Dressed mutton. ID ~ a .l7i7 ~ a 20
Dressed lambs. ID 20 a 20 20 a rs
Hogs. 100 To-. ...T.25 a 1850 1925 q 1850
con. 6' -. .2s's@ 2s,. 2snsa 2ss.
Mess pork. Dbl. 1000 q ~. 90 47.5O a 1880
Mess ueei; hnl $500 q $500 ai.oo $500
lb ........... .soc @ 2ssoo 2s.5oo q IS
New-York tribune., 1918-10-29

Ihe above rates cypress the cost OF
foreign money in terms of the Ameri-
can dollar. You buy an English pound
sterling at, say, s4.7545 The intrinsic
parity is $4S6ss per pound. Thus you
say either that pounds are at dis
count or that dollars are at a premium,
which is owing to the fact that in Eng
land the demand for dollars with which
to settle accounts in this country is
greater than the demand in this coun-
try for pounds with which to settle
accounts in England.
New-York tribune., 1918-10-29
News Digest
FOREIGN

Paris BOurse Inactive.--Paris, Oct
2S.-Trading was quiet on the Bourse
to-day. Three per cent rentes sold at
81 francs for cash. Exchange on Lon
don was quoted at 26 francs 6 CEN
times. Five per cent loan brought SO
francs
New-York tribune., 1918-10-29
Reconstruction Conference at Allan

Kec0Hstructl0n Conference at Atlan-
tic City.--WASHINGTON, Oct. IS
Plans for assembling at Atlantic Citv
December A. and 6, all members Of
the country's more than 800 industrial
war service committees for great
war emergency and reconstruction
the War Service Executive Comr,;t
tee of the Chamber of Commerce Of
the United States. The meeting is ey-
pected to bring together from 5000 TO
5000 industrial leaders to discuss
problems that have arisen out of The
war.
New-York tribune., 1918-10-29
Wealth Markets and Commerce

value of foreign money in dollars and
cents, together with the intrinsic gold
parity, us calculated by the United
States Mint:
New-York tribune., 1918-10-29
Butter, Cheese and Eggs

Butter Receipts to-day. 1851 pack
ages. Creamery, higher than extras. lb.
5S12 SOC; extras (92 score). 58c; frsts
(s8 to 81 score), sea 571ac; seconds SO
to 81 score), 53A2@ 5512c; lower grades.
49@53c; unsaltcd, higher than extras,
5912 a 6Oc; extras. 5Sls q 59c; frsts
56 y "a 5Sc; seconds, 54 a 56c; state.
dairy tubs. fines, 57@ 5712c; good to
rne, $50 56c; common to fair, 47G52c;
renovated, extras. 90 Il "a Sic; frsts.
4e II 49c; lower grades, asa 4Sc; imi
tation creamery. Irsts, asa 46c; ladies.
current make, irsts, IL y q 42c; sec
onds, 40c: lower grades. SO .. 39Hc.
packing stock, current make. No.
4o@4012c; No. ;, 391ec; lower grades,
37@39c.
Cheese.-Receipts to-day. 2.3o8
boxes. State, whole milk, fresh flats,
specials. colored, 3234 a 33c; white.
80 z 053c; average run, colored. S2G
32 72c; white, 32q32isc; lower grades,
70 2 432c; twins. specials, 3212 "a 33c;
average run, 32M3212c; lower grades,
3O4 32c; fats, held. specials, 30Q32c;
average run, 2s@3lc; twins, held, spe-
Si"iS' oV>0o-ci average run, ZSd3Ic,
lower grades, % a 29c; Wisconsin,
whole milk, twins, held, 30G 22c; dou-
Bile daisies, held, 30M33c; Young Amer
lcas, 80 Q33l l3c; state. SKINS. specials,
"a II a2512c; prime to choice, 230 24c;
falr to good, 20@22c; lower grades,
SG1Sc.
Eggs.-Receipts to-day as reported
by the New York Mercantile Exchange.
1880 packages. Fresh gathered extras,
per dozen, 6o@61c; extra tirsts, 570
sec; frsts. 34G56c; seconds end poor
er, 5O@53c; dirties. No. l, 45G46c:
No. and poorer, 40@44c; checks, good
10 choice, dry, II q. 43c; undergrades,
35@40c; refrigerator. special marks,
fancy, charges paid. As a 47c; frsts.
charges paid, 44046c; seconds, charges
paid, 42@44c; unoergrades, 4O042c.
state, Pennsylvania and nearby West
ern hennery whites. fine to fancy. IS
G92c; ordinary to prime, 75@sSc;
gathered whites, ordinary to fine, =
(088c; pullet whites. 7207Sc; Western
and Southern gathered whites. 65(G S5c:
state, Pennsylvania and nearby hem
merry browns, 64 = 66c; gathered brown
and mixed colors, 52G61c.
New-York tribune., 1918-10-29

The local market for spot cotton
was quiet and 70 points lower at 31.7O
dor mlddllng upland, compared with
3lc on Saturday and 27.s5c the year
before. Spot sales amounted to 200
bales.
:, Galveston quiet, 25 points lower at
31.75; sales 500 bales.
o. New Orleans steady, unchanged at
1925: sales 1,243 bales.
MoblIe steady, unchanged at 1925:
sales 1872 bales
Savannah quiet. SO points higher at
3Oc; sales 23O bales.
90 Norfolk steady, so points higher at
$3.50; sales 861 bales.
oo baltimore. nominal, unchanged at
SOC; sales nil
Augusta quiet, unchanged at 1925;
sales nil.
Memphis steady, unchanged at 1880;
sales S48 bales.
Houston steady, 80 points lower at
3l.7o; sales III bales.
o. Little Rock quiet, so points lower at
$3.50; sales 204 bales.
New-York tribune., 1918-10-29
sNo. 2 yellow.

mo. yellow
Oats.-The oats market was or;..
and price changes were comparativaI.
narrow, the close being nstted my
changed to hc lower. Tho war nen.-
was a disturbing factor and there vs.
general tendency on the part Of trad
ers to limit operations and awa,t A.
velopments. The visible decreased so
600 bushels and the total was % oI1
900 bushels, against 16,624,Oo0 last
year. a''
Yesterday Previous
new YORK: close. close. Year 80.
Oats. No. 3 white. .7s .7s Sc So
November ........ .eess .essz
December .ea7s .Gs7s .5s1,
Rye.-M4rket quiet.
Yes days Previous
New York: close close ys,-.
Cash, No. West .s17 sf.n 81 siss sss'
Flour and Neutrality-suspicious. were.
Yesterdays Previous
New York: close close yes-
Flour. MINI. spg. pats io,so 5000 sii.5S 5'
Cornmeal, yel., gran. 40 40 apr.
Rye -four. choice. 900 900 eco
New-York tribune., 1918-10-29

The Federal Reserve Bank Of New
York has put in force the following
schedule of rediscounr rates which ap-
ply to bankers ccceptancss: Maturities
up to Is days, a per cent; 10 to 60
days, inclusive, Az per cent; 81 to 90
days. inclusive, Az per cent
Bank CIearings.-Bank clearings yes-
terday in New York and other cities
were:
z, changes Balances.
New York - s4e5,5a4,s45 s81,82a. .57s
Boston ...... 42,493,866 1880, ,683
Sub-Treasury. The banks gained
500 900 from the Sub-Treasury yes
terday.
silver.-London, 4s1Ad, unchanged;
New York. 1011sc, unchanged: Mexican
dollars, 7712c, unchanged.
Money Market Firm in London
LONDON. Oct. 28.-Money was firm
at per cent. Discount rates were:
Short and three month bills, 317-32
per cent. Gold premiums at Lisbon
were at 1870.
New-York tribune., 1918-10-29

Rumors and tales of heavy wagers
offered that peace was only ten days
or thirty days away seemed to have
relatively small foundation. Such
offers probably came from the more
thoughtless and sporting element.
But it is well to recognize the fact
that they came along with a flood
of rumors that war orders were be-
ing cancelled right and left, that the
steel companies are now offering
steel for future deliveries, and much
Of the same tenor. And all to the
same end, that peace is very near.
Near it may be, but Wall Street
has been wrong before on the peace
proposition, and it may be wrong
again. What is certain is that the
peace talk is exercising very subtle
and demoralizing influence on the in
dustries of the whole country and
upon all manner Of wartime prepa-
rations. Mr.. Baruch, the head of
the War Industries Board, empha-
sized this very strongly in his talk
to the newspaper men at the end of
the week. A great number of bust
ness men all over the country have
grown into the habit of watching
Wall Street as kind of business
barometer, even if they are uninter-
ested in the fluctuations of any indi-
vidual stock. A fairly good barom-
eter Wall Street must be, from the
very nature of it's occupation. If
Wall Street were not generally right
The speculative part of it would dis
appear, for the simple reason that
it cannot afford to be persistently
wrong. The machinery of the mar
ket, and especially Of manipulations,
is too expensive. All the more rea-
son why it ought not credulously to
accept inventions that may have
New-York tribune., 1918-10-29

Llverpo0I Cables.-Spot cotton quiet:
middllng, IA points higher at 21.77d:
good mlddling, 13 points higher at
2l.33d. Sales, 1900; American, 1000.
Imports, $4,000; American, $4,000. Fut
ures opened steady, at "a to 81 points
advance. closed steady, at net ad-
vance Of 13 to "a points. October
~ 80; November, 21.64; December
2l12; January, 2o.74; February. 20,S3
MANCHESTER: Yarns, firm; cloths. ir-
regular
New-York tribune., 1918-10-29
Money and Credit

relatively small amount of new
time money was available at the Stock
Exchange again yesterday at 6 per cent
No important change took place in the
eral instances it was reported that
loans were called in order that houses
which had overextended themselves
might revert to the standard set by
the money committee. Rates were
unchanged.
Ruling rates for money yesterday,
compared with year ago. were as
follows:
Yesterday. Year ago.
Per cent. Per cent.
Call money.
New-York tribune., 1918-10-29
Dividends

Regular Declarations