davidaulloa/AmericanStories huggingface dataset:
The Arizona copper camp., 1918-08-31

The Ray Con Club interior is being
remodelled. The new "bar" ice box,
improved cooling system, and various
to club members. A more complete
line of refreshments is to be carried,
and better Accommodations for rush
nights are being furnished Members
are to be congratulated on their choice
of board delegates, who are working
with view of doing their very best.
Benscoe for County Assessor. he
EOcuc houy Adv ~
The Arizona copper camp., 1918-08-31

E. c. Meeker of the Mesa Milling
company spent several days this week
visiting his customers.
The Arizona copper camp., 1918-08-31

H. V Cowen, Phoenix business
man, was Ray visitor this week.
The Arizona copper camp., 1918-08-31

ten miles distant, and all were held
up on account of the rain.
The Arizona copper camp., 1918-08-31

R. A. Cook returned to Ray Thurs
day.
The Arizona copper camp., 1918-08-31

H. G.. Nicely of Ell Paso spent Thurs
day and Friday in Ray on business.
The Arizona copper camp., 1918-08-31

Mr.. and Mrs. H. G. Richardson spent
several days this week in camp.
The Arizona copper camp., 1918-08-31

Mr. and Mrs. A. H. Gordon of Tomb
stone are visiting friends in Ray tnis
week
The Arizona copper camp., 1918-08-31

Benscoe for County Assessor. Adv. If
The Arizona copper camp., 1918-08-31

A big rain fell east of town Sunday
evening. A party of Casa Grande peo-
pie were at the Smith swimming pool
The Arizona copper camp., 1918-08-31

Benscoe will fill the bill. Adv. If.
The Arizona copper camp., 1918-08-31

Mrs. L. P, Mathews and children
from Oracle Thursday.
The Arizona copper camp., 1918-08-31

Mrs. Parrish returned from Oracle
The Arizona copper camp., 1918-08-31

w. J. FaW, travelling man from
San Francisco, is in Ray this week
on business.
The Arizona copper camp., 1918-08-31

Benscoe will fill the bill. Adv If.
Benscoe for County Assessor, he
knows how Adv. If
The Arizona copper camp., 1918-08-31
CASA GRANDE NOTES

L. H. Woolsey, Pinal county water
commissioner, was in Casa Grande on
Tuesday of this week.
The Arizona copper camp., 1918-08-31

Mr.. and Mrs. w. J. McDermott re-
turned to Ray from Ell Paso Tuesday.
The Arizona copper camp., 1918-08-31

Ted Healy, editor of the Bulletin,
was in Phoenix Sunday, Monday and
Tuesday of this week.
The sun. [volume] (New York [N.Y.]) 1916-1920, 1918-09-01
GOSSIP OF WALL STREET.
Restricted

The various considerations, which un-
der ordinary circumstances would prove
Of very bulllsh character. are recog-
mixed by J. s. Bache 4 Co. in their
weekly marlset review, witch says:
''The cotton market furnishes some illus
tration of what the stock market would
probably do IL the latter were natural
and unrestricted. The elementary con-
dltions which go to make a bull market
are at present in each, although 1t il to
a great extent adverse conditions which
make the cotton market bullish, while
extremely favorable basics are under the
stock market. and these would, In a
natural market. make for rapid ad-
vances and excited activity" The prob
ability that the threatened corrective
measures spoken Of in the money COM
mittees statement will never be resorted
to Is intimated in the w. J. Wollman &
Co. review, which says in support OF this
theory that wall Street has been act
ing In accordance with this principle as
Ia reflected by loans estimated at only
S315,000.000," and further, that banks
are taking good care that the supply Of
per cent. money shall be SO restricted
that expansion Of loans Is practically
out Of question" In concluding, the
Wollman review says: "In our opinion
the outlook justifies confidence and op-
timism."
The sun. [volume] (New York [N.Y.]) 1916-1920, 1918-09-01
Bank Borrowings Increase.

The earning assets of the New York
Federal Reserve Bank. according to the
weekly statement. made new top last
week at s6S3,513,S9l. Acceptances
bought shrank s3.40o.Ooo and redis-
counts and advances on commercial pa
per fell of $500. 900. but these items
were more than offset by the increase OF
81 900. 900 In rediscounts and advances
on United States obligations, which rep
resent borrowings by the New York
member banks. Largely through the OPP
Grafton OF the gold settlement fund. the
gold in vaults and settlement fund de-
creasing $2S, 400, 900. the reserve banks
gold holdings fell off $9,0oO.0o0 during
the week The gold held against Fed
eral reserve notes increased s2o,000,O0O.
while the net expansion in reserve notes
outstanding was s10.0Oo.o00. During the
week United States deposits advanced
$4,000 900. foreign government deposits
So. 200 900. but member bank deposits L.
creased $3l. 900. 900. For the first time
the local Federal Reserve Bank has is
sued more than $500, 900 in reserve
notes. partly accounted for by the tx-
pansion In 81 and 81 bills.
The sun. [volume] (New York [N.Y.]) 1916-1920, 1918-09-01

Owing to the withdrawal Of nearly
500. 1000. 900 during the week, the amount
Of United States deposits at the begin
ming of business yesterday was $216,-
255.oo0, the lowest since January 10 Of
this year. Since August 10 the with
drawals have exceeded s300. 1000, 900. On
that date Government deposits were
$522,310.000. The decline In surplus re-
serve, as disclosed by the actual bank
statement, was more moderate than
bankers had anticipated. the surplus be-
ing s55.s27, $50 and the decrease $4.027,-
$50. The net increase in time and de-
mand deposits. against which reserve Is
figured, was s45.252.000. largely ac-
counted for by the Morgan deposit of
$50, 900. 900 in advance Of the British
Government note payment on Tuesday
and withdrawable on that date. At the
same time cash holdings fell Off about
S1,50O,000. Loans contracted $3l.619,-
900, a falling of since August 10 OF
about $11S,O00, 900. Loans on call for
Stock Exchange purposes are still less
than $500, 000.OOo and time loans have
been further reduced from the 100000
900 mentioned a week ago on account of
the lack Of supply for renewals or new
loans.
The sun. [volume] (New York [N.Y.]) 1916-1920, 1918-09-01
Our Foreign Com m cree.

Despite shipping restrictions imports
into this country are larger than In any
year in the history of the nation. the
First National Bank of Boston states.
although the upheaval OF shipping con-
ditions during the past year has wrought
great charges in our foreign trade Gov
ernment regulation has resulted in an in
crease in our export trade to point never
before reached in the history of Ameri-
can commerce." says the bank This
regulation was first promulgated for the
purpose OF preventing materials from
reaching the enemy and to conserve our
materials to insure reserve from which
to fill our expanding requirements and
those of our allies. In view OF the clos
ing of the fiscal year June 30 it is. in
terest'ng to examine the figures and note
the effect OF this regulation Of shipping
upon our foreign trade, In 1917 trade
with the European neutrals was the
largest In the history OF our commerce,
hut when II became evident that our
Goods were finding their way into Ger
many through those countries restric-
tons began to be enforced. As result
exports to these neutrais fell from $392.-
6S5, 900 in 1917 to $l27s44.O0o in 1919
The sun. [volume] (New York [N.Y.]) 1916-1920, 1918-09-01
New Hide and Leather Directors.

Al directors meeting of the Amer
lean Hide and Leather set for Septem-
Der three new directors will he added
when Henry Evans. Thomas Yuillea and
NJ. c. Branch will become members of
the board. 1t is not expected there will
be any designations. as had been ru-
mored. the board being enlarged to make
places for the new interests which re-
Gently became identified with the COM
pany. The annual meeting on Septem-
Der will probably be a routine affair,
though the report of the efficiency eX
perts On the company's financial and
commercial position Is almost ready for
presentation. IT is expected to be IN
finished form in about two weeks ami
interests close to the Hide and Leather
management believe the execution Of the
suggestions made by the experts will re-
suit In greatly enlarged manufacture
ing capacity. This report is aside from
the plans for the cOmpany's capital adj
justment, though the adoption of any
new financial plan will he influenced by
the reconAmen datlons of the report
big army order for shoes is about to he
placed. when American Hide aud
Leather will be able to dispose OF a con.
siderable amount of present inventories
and the turning of hides into cash will
furtheE strengthen their cash position.
The sun. [volume] (New York [N.Y.]) 1916-1920, 1918-09-01
MORTGAGE LOANS.
104,22S OWN PENN STOCK.
Women Comprise 51,43O of These
Shareholders,

Stockholders Of the Pennsylvania Rail-
road Company now number 104.22S, the
greatest in the history of the company.
OF this total SLAB are women, an in
crease of i.454 in year. and owning
s146.500.000 par value OF the stock. The
total number Of shareholders shows an
aucrease of 1919 in the last year
The average holdings of the stock
holders is ninety-six shares, which is a
decrease of ten shares for the last year.
The decline in the size of the aver
sse block of stock held by Pennsyl-
rania Railroad investors, with the ac-
campaigning wider distribution of the
shares and growth in the number of
small investors. has been going on for
considerable period. The highest
average since the present volume of
e.9S5,3l4 shares has been outstanding
was shown on December 81. 1912. when
It stood at 113 shares.
Twenty-eisht per cent. OF the stock
holders own ten shares or less each,
while 10 per cent. own from eleven to
twenty shares each
Women stockholders now constitute
1896 per cent of the total.
The sun. [volume] (New York [N.Y.]) 1916-1920, 1918-09-01

determined from the action or steel
common after it sells ex DIVIDEND says
Shonnard. Mills & Co. "Our own judg-
ment is that the market will continue to
exhibit a strong upward tendency. with
but moderate and temporary setbacks."
Another firm, Clark. Childs Co. notes
"A small public participation and says !:
while it is understood that buying OF
securities has been in progress for
couple of weeks for account of important
banking interests of New York and Lon
don. chiefly for replacement OF those
sold in the earlier part of the war. yet
the late Improvement in prices seems TO
have been due more to renewed punnc
operations for semi-speculative account
and Is in a large degree psychological"
The sun. [volume] (New York [N.Y.]) 1916-1920, 1918-09-01
Buying the Rails.

Purchases of railroad stocks were un-
usually heavy in volume for pre-holi-
day market and resulted in several new
high records for the year. the most notu-
BILE top prices being made in Missouri
Pacific preferred. Union Pacific and
Southern Railway. The buying was
based on expectation that the success
full consummation OF the railroad con-
tract would be announced this week, and
the modified contract will be favora ble
to our great arteries of commerce.
The sun. [volume] (New York [N.Y.]) 1916-1920, 1918-09-01

Directors of the American Cotton Oil
Company are considering increasing the
annual dividend from to per cent. It
was stated yesterday by man whose
connections with the company are known
to be OF the best, though such action
VIII not come until late In the year
Cotton Oil, which Is now selling at ats
high figure of the year. is making large
profits from cottonseed products and
earnings for the year ended yesterday
will be the best in the company's his
tory.
The sun. [volume] (New York [N.Y.]) 1916-1920, 1918-09-01
Southern Railway.

International houses reported yester-
day that considerable part of the buy
ing OF Southern Railway stock was for
the account of Holland interests. Pur-
chases of American rails by Dutch in
vestors began week ago and was ac-
cepted in the financial district as one of
the straws indicating that the neutral
nations believe Germany is doomed to
defeat. Southern Railway has been
picked undoubtedly because of the pros
perity OF the South. which should be re-
Elected in larger earnings for the most
important road traversing that section
of the country.
The sun. [volume] (New York [N.Y.]) 1916-1920, 1918-09-01
Billion of New Credit.

The statement is also made that IN
the last three months one billion dollars
of new credit has been put into circula-
ton to do the work of money. The bank
says this credit is the purchasing power
which will remain as "A stimulating Gle
ment in the industrial situation until 1t
is retired by corresponding reduction
In bank loans. 1t adds that the country
is trying to use credit in excess OF the
physical capacity of its industries and
some way must be found to hold this
tendency in check other than by gem
eral appeal, to bankers to restrict loans
to essential purposes. II concludes by
declaring that there is no end TO the in
fation that may take place for essen
tial purposes II this competition for
labor and materials goes on. and that
the remedy must be found in more d.
rect and effective control of the indus
trial situation.
Closer economies ny everybody is urged
by the bank. which states that Only that
portion of a mans income which he
spends upon himself and his dependents
Is devoted to MIN or them, the balance
being devoted 10 the public as COM
pletely as though the title of ownership
was in tho state.
The National CITY Bank suggests that
il Is lust as desirable that credit he
extended by the United States to Cam
ada to correct the exchange situation
an it has been to give aid to other coun-
trl
The sun. [volume] (New York [N.Y.]) 1916-1920, 1918-09-01

whether the current advance is due.
largely, to covering or short commit
ments In the market leaders. principally
Steel, or whether it !, is based upon
The sun. [volume] (New York [N.Y.]) 1916-1920, 1918-09-01
NEW YORK STATE BONDS


on CITY. Pa. Aug, 3l,-Credit bal
ancos. 81, Runs, 9A56 barrels average.
1871. Shipments, 2A7S4; average. &c.
0Ji.
The sun. [volume] (New York [N.Y.]) 1916-1920, 1918-09-01
INDUSTRIES GOING
AROUND IN CIRCLES
National City Bank Says They
Are Constantly Getting
Further From Normal.
TOO MUCH CREDIT A FAULT
Country Trying to Use More
Than Physical Capacities Of
Factories Will Stand.
TOO MUCH CREDIT A FAULT

The industries OF the United States
are chasing themselves around a circle.
stimulated and supported by credit and
constantly getting further away from
normal conditions" declares the National
City Bank. in commenting in its Septem-
Der circular on the movement to con-
serve credit Continuing this authority
says:
1T must not be thought that the Fed
eral Reserve system and the War
Finance Corporation or any other agen-
cies that may be devised for creating
creditor any additions to the gold re-
serves-will enable us to go on multiply
Ing credits indefinitely without i'll re-
suits. Bank credit. like paper money. 10
a facility which within limitations Is use
full In promoting production, but neither
paper money nor bank credit can be used
except to put the physical agencies Of pro-
duction into effective use. If the Industrial
equipment cS a country is not working
TO full capacity If land Is going untitled
for lack OF labor while labor is without
employment; II cattle are dying in one
section for want of feed or being forced
upon the market In unfit condition, while
IN another locality there is feed for sale
In abundance or wherever production
may be increased by the use of agencies
now idle. then credit may be profitably
employed. But when all the physical
agencies of production are already in
full use the attempt to use more money
or credit spends itself in driving up
wages and prices.
The sun. [volume] (New York [N.Y.]) 1916-1920, 1918-09-01
Markets Take Holiday.

The following i's,arkets were closed
yesterday; Cotts ! coffee. sugar. metals.
The sun. [volume] (New York [N.Y.]) 1916-1920, 1918-09-01

A special meeting Of stockholders Of
the Public National Bank has been
called for September 80, to authorize an
increase in the capital stock from $780,
900 to 100000, Gpd TO transfer
$3.50. 900 from undivided profits to sur
plus. ....
The sun. [volume] (New York [N.Y.]) 1916-1920, 1918-09-01
MONEY AND EXCHANGE.
COMMERCIAL PAPER.

COMMERCIAL PAPER.
Prime Endorsed Bills six months. ........6
Receiv able. Other Names
Sixty days.........s Three to six
Ninety days.,..,.. months ...........s
ACCEPTANCES.
81 days co days. 70 days
Bid. Ask Bid. Ask. Bid. Ask.
Eligible member
banks .......... "a AZ ~ Al ~
Eligible nom
member banks. iis an 4,t IA AZ as
Ineligible banks
bills ........... 50 ~ sH ~ 5r
CLEARING HOUSE STATEMENT.
Clearing House exchanges. tG0O, ~, 32s: bal
ances s51lSf.2IS; Sub-Treasury debit bal
ancrs H.2ls22': Federal reserve credit bal
ance, ses.o33,67i.
DOMESTIC EXCHANGE
Boston. par: Chicago. mar; 81. Louis a5df
$50 discount bid San Francisco, par: Mon.
treal $50 20 s2o3lr premium Cincinnati
par Minneapolis. lOc. premium.
SILVER PRICES.
Bar silver in New York. s.0iH un.
changed: in London, I9iAd.. unchanged /;
Mexican dollars 7sc.. unche ngcd,
The sun. [volume] (New York [N.Y.]) 1916-1920, 1918-09-01
TELEPHONE co. REPORTS.
DIVIDENDS.

Stock Of Pay
Record. able.
Am: Public Service. pr O.
,l+T .......,....... 49,. Sept, II Oct. /
Conn q. 81: So........,A Aug. 81 Sept. 10
Commonwealth Finance
Corp, pr, q. l%%,.,.. Sept. 10 Oct. is
Cons Gas & Eiec. Light &
consol' Mining a smeit,ns sept Il Oct !
Co. Of Canada, a, 2hT.. - Oct. l
Globe wsrnicke Co, q, e,s Aug 81 Sent 10
Imperial OIL Co. OF Can
ada, s-a. 4R..,..,.....Aug.g 20
Inter. Salt CO., q, InR Sept.
J. 7. Case Thresh!ns Mach.
stHtz Motor Car Car Co. Of Am sept 10 OCT
rcSa i sS,pyaid; corp, q sept 10 Oct
Westinghouse. church. Kerr '' sept "
& Co, pf, q, 1hfs..,...Aug. 81 Sept. 10
Wtsiinghouse. Church. Kerr
& Co. q, ~ 81 Sept. 10
Laclede Gas Light Co.. q.
la% ,.::;..:......;. Sept. p, ssp,, Is
way Co. pr. q. 81. Sept. Oct. /
Chicago. Northewestern Rail-
way Co.. a, u,75...... Sept. Oct. /
Pettibone Mulliken Co. LIST
pf., q. 1%T............s Sept, 10 Oct. l
Pcttibone Mulliken co. I'd
pr, a. IN %............S Sept 10 Oct. /
Arkansas Valley Railway.
Light d Power Co. Pr. q.
1A% 81 Sept. IL
The sun. [volume] (New York [N.Y.]) 1916-1920, 1918-09-01
shipbuiIders Want Raise.

Precisely that situation exists to-day.
We say that high costs and high prices
make it necessary to use more credit,
but II Is equally true that the expansion
Of credit facilitates the competition for
labor and material which makes high
costs and prices. 1t is the struggle
among all the industries and all of the
employers for workers and materials
that puts up wages and prices. It In
stated that friendly representations
have been made by the skilled shipbuid-
ing trades for an advance Of wages to 81
per hour, with double time after eight
hours on week days and four hours on
Saturdays. and 10 per cent extra for the
night shifts. &c is claimed that the cost
Of living has gone up since the present
wage rate was established. Wages were
made high in the shipyards originally
for the purpose of attracting labor from
other industries. and the other industries
then raised wages in self defence. As
wages go up In the war industries the
consumption demand on the peace in
dustrles increases and the struggle for
labor intensifies."
In discussing the relation of wages to
credit. the bank says;
THE Bureau of Statistics and Infor-
nation of the New York State Depart
ment of Labor reports the average per
capita weekly wages in New York State
in June. 1918, at s20.44, against an av-
erage of S16.3S per week in 1917, S14.43
in 1916 and S12.So in 1915.
The sun. [volume] (New York [N.Y.]) 1916-1920, 1918-09-01
Elk DIVIDEND TABLE.
Minneapolis Grain Market,

Minneapolis Grain Mnrket.A
MiNSEAPoILs. Aug. 3l,--Flour I'M
changed. Bran. $2931. Wheat. cash,
No. Northern. old, s2,22ls. Corn, NO
3 yellow, $1,65 u 1.6s. Oats, No. 3
white. G6h @67c- Flax. $4.17@4.2L.
The sun. [volume] (New York [N.Y.]) 1916-1920, 1918-09-01
Industries short of Labor.

Most OF the Industries are now short
of labor to work all of their equipment,
and under this condition the temptation
TO draw labor from other employments
Is very strong. Costs in the textile in
dustr!es are higher than last year, but
not SO many yards of cloth will be made
this year as last. Costs are higher in
the steel and iron industry, but produce
ton this year will be little II any greater
than last. The industries are chasing
themselves around a circle. stimulated
and supported by credit and constantly
getting further from normal conditions.
to which eventually they Will have TO re-
turn.
THE increasing costs are initiating the
national debt. which will have to be car
ried upon the basis of peace conditions.
when II will take twice as much IN labor
and commodities to pay a dollar OF debt
as the Government receives now. More
over. the people who individually get
into debt on this basis and who fail 10
clean up promptly may find themselves
after the war facing the problem OF
meeting their obligations at the same
two to one ratio"
The sun. [volume] (New York [N.Y.]) 1916-1920, 1918-09-01

NoteOdd lot transactions Separate
were made at prices outside of the regular
The Cordova daily times., 1918-08-16
BRITISH THREATEN OIL FIELDS
NOW I'M HANDS OF GERMANS

WASHINGTON Aug. 1G-Evrnts in Russia seem be
sumng the proportions Of rou of Boshcvsm and of such
to disnay to Germany. The great of
the pcop" reported to be taking and flockng to
the standards of opposed to the Germans and Bol
Shevik.
British Move Fraught with Great Possibilities
The arrival of British troops Baku that German
control of the Baku oil lands and rcncrcs threatened 1t
also opens another road into Russia from the south for the
allies.
The British advance through Persia from Bagdad was ac-
conplished under the greatest difficulties.
Americans Siberian Railroad
VlADlNOSIOk, Aug. 1G.-Eghy four members of the
Stevens railroad commission which Russia 1917
have begun work the Siberian railroad behind the Czeco
Slavok lines
Trotzky at the Front
AMSTERDAM, Aug 16.-The Vienna Neue Freie Presse
that War Minister Trotzky touring the front where the
Boshevk fighting the Czeho Sovaks and urging the Boil
sheviki to fight against the enemy.
The Cordova daily times., 1918-08-16
URGES CONTROL
Of SPECULATION
BY GOVERNMENT

BOSTON, Aug. l6.-Cotton buyers
and mill owners are in conference here
today with representatives of the bu-
reau of markets, department of agri'
culture.
A plan is being urged for govern.
ment control OF the New York Cot
ton Exchange and the elimination of
gambling and speculation.
Government Control of Mohair
The government has assumed con
troll Of the fall clip of mohair, which is
estimated at 100000 pounds, and is
produced mainly In the Southwestern
states.
The Cordova daily times., 1918-08-16
ALLIES ADVANCING
LINES IN THE WEST

PARIS, Aug 16.-The French holding Roye in a vie
ike grip crushing the stubborn German resistance The French
slowly encircng the town. The French advance Nor
Les Roye makes Reyes fall inevitable The possession of the
by the French would force the Germans to rccy their
ines, and probably retreat to the NeseRoyon line. Royc
tn" buIwak Of the German position and the Germans
ngng desperately the ranch of high hills east of ibcour
and StnbbomIy defending the Lassgny Disc canal the loss Of
which would entail the evacuation of Noyon.
The Cordova daily times., 1918-08-16
To RAISE TAX VALUATIONS
ON GRAsP|NC LANDLORDS

WASHINGTON, Aug. 16.-The bu.
reau of industrial housing has rec.
commended the raising of tax valua,
tions on the pronerty OF landlords
guilty OF charging extortionate rents
to war workers. as one method of
checking rent profteering.
The Cordova daily times., 1918-08-16
HIGH PRICE OF RICE
CAUSES RIOTS IN JAPAN

TOXIC, Aug. 1G.-Ten policemen
have been wounded and many rioters
injured at Nagoya. in clashes over the
high price of rice Fifty persons have
been arrested
The price was doubled as the out
come of corner in the market.
The Cordova daily times., 1918-08-16
AMERICAN WAR MOTHERS
TO FORM ORGANIZATION

INDIANAPOLIS, Aug. 16.-Steps
are under way to the completion of
American War Mothers. meeting
OF war mothers of Indiana is in prog,
rcss here. at which the subject has
been taken up.