davidaulloa/AmericanStories huggingface dataset:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-11-17
Third Avenue Co.
Deficit Declining

The annual report of the Third
Avenue Railway Company, issued yes
terday, showed deficit of $456, 5O3 for
the fiscal year ended June 80. con-
trasted with the preceding years de-
ticit of $1,622,326. Operating income,
OF $10,234,988, compared with $S,972, $40
for 1917: Operating expenses, amount
ing to S2,063,971, increased $1,173,613.
S. w. Huff, president of the road,
said in the report that subway and
elevated competition and other causes
have so reduced operating revenues as
to put them practically on par with
TIE year 1913. He stated that increased
cost of labor and materials had in
creased operating expenses for the last
fiscal year by approximately 81 900 900
over 1918, and added: "This in spite
Of every economy that it has been pos
eible to effect during the year 1918,
end i. is a clear illustration of the in
creased cost of street railway opera
ton under the present abnormal con-
ditions"
For the first six months of the 1918
fiscal period the company earned $780,
5S6 above operating expenses, taxes
ard interest on underlying bonds.
which was set aside for maintenance
and equipment requirements. In the
last half of the year the surplus after
taxes and interest on underlying bonds
was $176,910.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-11-17

however, and there were good rallies
during the middle of the morning tol.
lowed by irregularity, with prices nal.
ing new lows for the day on LATE
months just before the close.
1t is reported that the War Seru
Committee has notified the cotton goods
trade that in all probability there will
be little, if any, more buying Of co..
ton goods for army purposes. This
statement attracted a good deal Of A.
tention, as indicating q steady in
crease in mill facilities available im
the manufacture of civilian goods. o.
the other hand, it was reported as
the War Industries Board will CO..
tlnue all fixed prices now in force unit
the first of January, which means thl
manufacturers are free to sell good
if demand is Forthcoming at pric.
based on 80 cents for raw mstenL
Notwithstanding the appearance Of
Southern selling here on bulges, privst.
advices reported firmness in the South
with little or no cotton available be-
low the 30-cent level
The local market for spot cotton Vi.
steady and Is points lower at 2aa
for middling upland, compared viii
30.05c the day before and 2s.s0c tb
year before. There were no sales d
spot.
The range Of prices follows:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-11-17
y Financing Export Conner

With the definite assurance of the
War Industries Board that Europe will
require huge amounts of copper for re-
construction purposes, the important
producers are wondering what plan will
be arranged for payment of future
shipments: In some quarters the opin-
ION is held that system of credits will
have to be arranged with bankers in
this country before any orders for ex-
port delivery can be accepted. Should
the government, however, decide to
continue its policy of financing foreign
purchases here, any immediate diff
Guilty in this direction will be elimi-
mated. At any rate, the big producers
have enough business on their books
now to carry them up to the close of
the year at the fixed price of 26 cents
pound.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-11-17
The Dollar in Foreign Exchange

he movement of rates on FOREIGN
countries in the local exchange mar
ket during the last week was condi-
toned by the fact that the cable SER
vice was badly clogged up because
of the large amount of government
messages transmitted to Europe. As
result, quotations were made here
independently of market conditions in
London, which normally is still closely
followed by New York exchange bank
ers. Fred /. Kent, director of the
foreign exchange division of the Fed
eral Reserve Bank, issued warning a
week ago that the cable service would
be disrupted temporarily, and asked
exchange dealers to cooperate by abb
staining from sending duplicate cables
The general tendency of the market
during the week was steady The
rapid movement of the Allied and
neutral exchanges to the normal parity
reached temporary halt. and the mar
ket responded more to technical factors
than to the general news, which had
been discounted In the previous weeks.
Bankers persist in the belief that the
premium of neutral exchanges in this
market, which has already been greatly
cut down, will soon be entirely elimi
mated, and that in many cases the
dollar will be at premium instead of
At discount, as 1t was for more than
two years.
~ you calculate she cost Of the dol
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-11-17
Fairbanks Stock Offering

Directors Of the Fairbanks Company,
according to advices from Boston, have
voted to offer to common stock holders
the right 20 subscribe to per cent
second preferred stock at 500 a share,
and to the common stock at par $25,
to the extent of 10 per cent Of their
holdings. The board has also voted a
per cent stock dividend on the COM
mon, or one share for every 20 now
held. The dividend and the right to
subscribe 20 the new stock attaches to
holders of record on November rs.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-11-17

reached this week a peak for the
year. Public utility bonds were not
so strong. But it is obvious that
with the lifting of the wars needs
for capital, these securities should
fare much better in the near future.
Unless an unprecedented wave Of
speculation should ensue, public util-
tiles should in general be in a better
position than at any time for two
years or more.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-11-17
Relevant Comment
That Marine Episode

The International Mercantile Marine
episode of last week stirred genuine
dissatisfaction in many observers of
the Marine deal negotiations. AL
though President Franklin said after
the meeting of directors on Friday
that there were no "new developments"
to report, the stock market showed a
decline of nearly ten points in two
days. If hitch has really taken place
in the negotiations for the sale Of the
British ships. as has been suggested
by some who have no access to the
actual facts, Wall Street feels that it
should know it.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-11-17

The surplus that we normally sell
abroad has been very different, esti-
mated by different writer's. One dis
tinguished economist has held that
our exports really amount to only
small per cent of our total produc-
ton. Another estimates the average
as high as one-sixth of our total
output. The chances are that the
truth lies in between, the average
swinging, with the wide variations
that occur, between six and twelve
per cent. If the average were no
more than eight or ten per cent, or
even less, the influence of these ex-
ports as kind of balance wheel
IN the nations business, would still
be very great. At the present time,
when our exports are obviously run
ming at the highest point in recent
history, this influence is proportion
ately greater. One of the very vital
things at the present time is the
maintenance of our exports. That
is possible only through tremendous
credits abroad.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-11-17
Money and Credit

The statement issued by the Clearing
House Association yesterday showed
an increase in loans and discounts of
s4S,728,o00 during the last week, max
ing total of s4,7S9,s2S, 900. Net de-
posts increased s7,917,0o0. Excess
reserves decreased $2S,S12,7S0. United
States government deposits totalled
$SSS,724,ooo, compared with $685.
600 week ago.
The Federal Reserve Bank of New
York in its statement for the week end
ing November 16 showed total of bills
discounted and bought of $841,929, 40S,
compared with sS12,37S,S54 a week ago.
Bank Acceptances.-The bank accept
ance market yesterday was without
feature, with rates unchanged.
Thirty Sixty Ninety
spot de- days. days. days.
livery: Per cent.Per cent. Per cent.
Eligible
m m Der
:. banks; ;. .4M@41s 43s@44 4as@4n
Eligible
non-mem-
Ineligible
bank bills.5M@s 51a@s 5h@5
For delivery within thirty days:
Per cent.
Eligible member banks. ........ 4H
Eligible non-member banks. go. 45a
Ineligible bank bills. s
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-11-17

The above rates express the cost of
foreign money in terms of the Amer
lean dollar. You buy an English pound
sterling, say. at $4.7595. The intrinsic
parity is $4.86M per pouno. Thus you
say either that pounds are at a dis
count or that dollars are az premium,
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 ac-
counts in England.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-11-17

high freight rates naturally nut
a tax upon industry and the free
exchange Of commodities. But with
out them, the maintenance Of the,
present scale of wages would be
almost Impossible. The government
would scarcely elect to run the rail
ways at a loss, and make good a
large deficit to the bloated share
holders. The difficulties of deiation
are many.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-11-17

The action of the authorities at
Washington in continuing present
prices, and wages, for copper is
highly significant of the policy that
will very probably be consistently
followed. Europe has great needs
for copper. Yet if the matter were
left to private interests alone, this
great demand could not quickly be
put into effect to maintain the neces-
sary high level Of production.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-11-17

Southern spot markets follow: Oas
weston steady, 20 points higher !.
so.25c; sales, 450 bales. New orls s..
steady, 81 points higher, at 10" 4
sales, 919 bales. Mobile stesey. =. =
points higher, at Csc; sales, 10 a Os ~.
Savannah nominal, unchanged 81 ZssM
sales nil. Wilmington STEADY W
changed at 28c, sales nil. Ausul,s
steady, IL points lower, at 2S.0Sc,, ss.si
$40 bales. Memphis steady, unena ~.
at 3o.5Oc; sales, 100 bales. 81 l' 4
steady, unchanged at 3Oc; safes -
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-11-17
Dividends
Extras

American Colonial Bank of Porto
Rico An extra dividend of s per cent
has been declared in addition to the
regular scmi-annual dividend of 8 per
cent, both payable December to stock.
holders Of record November 90.
National Transit Company-Ext
dividend of so cents share in uddi-
ton to the regular sem-annual divi-
dend OF so cents share, both PAYABLE
December l6 to stockholders of record
November 80.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-11-17

lar in terms of foreign money at par
value-that is, ii you were buying dol
lars with pounds, marks or francs-its
value at the close of last week, as COM
pared with a year ago, would be about
as follows:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-11-17

A highly competent observer, just
returned from close contact with
Continental and German affairs, ex-
presses the belief that the danger of
Bolshevik regime in Germany is
very great. There was something
sinister in the fashion in which the
reins of government were handed
over by the Kaiser to the Socialists,
instead of to the Reichstag. 1t was
not democracy; it was, and still re-
mains, autocracy. Was it done with
the hope that Fed Terror would
ensue, after which Imperialism
might come back into power? AS
after the French Revolution?s Per-
haps. But there may be great
restraining fear,-the fear that the
Allies will not supply food, or ex-
tend any kind Of aid.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-11-17
Finance Economics
WALL STREET OFFICE: Telephone
Building, Broad St 6S14

Fear is often a powerful determi-
nant of human actions. For the next
year or more, fear may be the chief
factor of the worlds policies.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-11-17

Sub-Treasury.-The banks lost $751;
oco to the Sub-Treasury yesterday.
Silver.-London, 49hd, unchanged;
New York, 1o1 sc, unchanged; Mexican
dollars, 77Ac, unchanged.
LONDON, Nov. 16.-Money was firm
at 3h per cent. Discount rates were:
Short and three months bills, 8 1882
per cent Gold premium at Lisbon was
at 100
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-11-17

The governments of England,
France and Italy may have as great
a fear of Bolshevism in Germany
as the conservative forces in Ger
many itself. For one thing, a
wrecked and PROSTATE Germany
could not pay any huge indemni-
ties or make PREPARATIONS, nor even
offer solid guarantees Of peace.
Despite popular impression, billions
Of property cannot easily be moved
about. The only kind Of an indem-
nifty worth while is an indemnity
paid in goods. We do not want their
worthless paper money. Nor their
bonds. And their whole gold stock
would be a bagatelle. So fear. may
dictate the terms of peace.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-11-17

The average of ten railway bonds.
and likewise ten industrial bonds
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-11-17

The two great articles of COM
merce of which Germany stands
most deeply in need, are copper and
cotton. An administration friendly
to the cotton interests, Wall Street
thinks, may consider this fact.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-11-17

The coming of peace opens up
large possibilities of speculation in
the exchange markets. The return
OF a stable government in Russia
and the extension Of large credits
to it from this country would have
a marked effect upon the exchange
value of twenty to thirty billions of
paper rubles.
Merely to pay the interest on ex-
listing loans, the worlds taxes will
be at least eight billions greater
than in 1914. In most of the war
ring countries this will mean
doubling or more Of taxes, in some
TRIPPING.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-11-17

The Federal Reserve Bank of New
York has put in force the following
schedule of redlscount rates which an.
ply to bankers acceptances: Maturities
up to Is days, 4 per cent; 16 to so
days, inclusive, Az per cent; 81 to 90
days, inclusive, Az per cent.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-11-17
FINANCIAL
PENN
MUTUAL,
LITE

81, 900 prxx
IOi.oh age 40 MUTUAL
%o''"o LITE
ASSETS 1873 MILLIONS
Send date OF birth for specimen poB,,
Depan Agency. 81 Court Street, Brooklu
N. Y. Phone 4446 Main.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-11-17

Discount Rates.-The following table
gives the current rates Of the twelve
Federal Reserve banks on commercial
paper for all periods up to ninety days:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-11-17

Unless Germany can get quick
supply of raw materials for her in
dustries and her factories, chaos
there would be almost certain. 1t is
not an agricultural nation. Food
alone would not suffice to insure a
stable government in Germany. So
fear may dictate the economic pol
icy of the Allies towards Germany
as we'll.
Likewise the governments Of the
Allies, and the United States as
we'll have a deep interest in pre-
serving a high degree of industrial
activity in their own countries. A
severe fall in wages, or in the price
of great basic commodities like steel,
copper, coal and the rest would,
with the practical certainty Of high
food prices and a continued high
cost of living, mean endless trouble.
Fear, or if you prefer, good policy,
will therefore probably dictate to the
allied governments large purchases
for governmental account and re-
sale, and free exchange Of credits
between countries. Active buying on
behalf of the governments would go
far toward relieving any uncertainty
as to the immediate course Of bust
ness.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-11-17
Federal Reserve Banks

WASHINGTON toward increase in dsounte
n secured obligations of other
from the weekly financial
The condition of the twelve the close of business last night wa
as
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-11-17

nominal.
Below is given the current exchange
value of foreign money in dollars and
cents, together with the intrinsic gold
parity, as calculated by the United
States Mint:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-11-17

Continued on merit page
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-11-17

Closing rates yesterday, compared
will. a week ago, follow:
(Quoted dollars to the poundO
New Britain herald. [microfilm reel] (New Britain, Conn.) 1890-1976, 1918-08-03
SALMON BON

Line a bread pan slightly buttered,
with warm steamed rice. Fill center
with cold boiled salmon, faxed, and
seasoned with salt, pepper and
slight grating of nutmeg. Cover with
rice, steam one hour. Or grease top
lightly and bake until broWn-or take
one ON salmon, remove SKIN, pones
shred into pieces. Season with salt,
pepper juice Of 1-2 lemon. MIX with
ga cup bread or cracker crumbs AID
one egg slightly beaten and water IS
necessary to make a compact mixture.
Line dish with rice and proceed as be-
New Britain herald. [microfilm reel] (New Britain, Conn.) 1890-1976, 1918-08-03

while the latter is on a three weeks
vacation.
Frank Tardetu is in town on a short
furlough from Camp Upton.
Henry Foiren has started work on a
cottage which he is planning to erect
on the New Britain Road.
Caroline X. Savage is spending a va
cation in East Gloucester.
DR.. Robbins and family have moved
to New Britain.
The funeral of Mrs. John Connley,
Sr., was held at 2 o'clock this after
noon from the home of her son John
Jr., of Berlin street. Burial was in
the Naples Cemetery.
New Britain herald. [microfilm reel] (New Britain, Conn.) 1890-1976, 1918-08-03
CITY ITEMS

Master Edward Farrell and Mary
Farrell of Columbia street are spend
inc a week with their uncle and aunt,
Mr.. and Mrs. Benedict Holden of
Hartford at their summer home in
Madison.
Thomas j. Claughsey Of Al Clark
street, has enlisted in the United
States infantry and is now stationed at
Fort Slocum, \. Y. Mr.. Claughsey is a
nephew of Mrs. Harriette Claughs@"
of Al Clark street.
Mr.. and Mrs. James J. KitSOn, aC-
companicd by their niece, Miss Lillian
Pitt of Middletown, and Miss Louise
Evans of New Haven, leave tomorrow
on a motor trip to Maine. They Will
be gone two or three weeks.
Alderman Hubert P. Richards is
spending his vacation at Bar Harbor,
Me.
Former Patrolman George G.. Film
ger has written to his folks, telling of
his arrival overseas.
The water commissioners will re-
port favora bly, on the Recommendation
of the board of fire commissioners for
the placing Of new fire hydrant on
Washington street.
Stanley Skritulsky of 1873 Main
street was found i'll at an early hour
He was taken to the hospital and this
morning his condition was reported to
be favorable.
New Britain herald. [microfilm reel] (New Britain, Conn.) 1890-1976, 1918-08-03

front. That America is Gods coun-
try and is so satisfactory to him that
once he gets back he will not wander
AS a result he is not giving much at
tention to the study Of French. Still
he confesses that he is able to say
'Wec" like a Frenchman.
Elsie Janis entertained at the camp
in SomeWhereland and oliver saw her.
He writes: She won the love of
everybody in France with her, real
American style" French entertain
crs also participated in the show but
the only enjoyment he got out OF the
entertainment was by joining in the
laughter chorus, but he didn't know
what the laugh was about.
New Britain herald. [microfilm reel] (New Britain, Conn.) 1890-1976, 1918-08-03
WORCESTER RESULTS
Frank Dewey Easy Winner ia $1,000
Stakes on the Bay State Circuit.


Worcester, Mass, Aug. Cont
paratively tame racing developed in
the third day Of the Bay State Circuit
here, horses cleaning UP the card of
four races in straight heats with the
exception of the first heat of the 2:20
pace in which Heny Harding, local
trainer, clinched second money.
The $1,000 stake for 2:14 PAGERS
was easy for J. II. Farnhm's Frank
Dewey, the Boston PAGER getting to the
front from eighth position before the
first half had been turned and string
out his field thereafter. The surprise
of the race was Hollywood Billy's
landing second money over Silver
King. The white faced pony did not
show his customary lick and was
handicapped in the second heat by be-
ing sent away when more than half
dozen lengths behind his field.
The colt trotting race for 3year-
Odds saw Frank Burke of Bytield win
nicely with Silent Brigadicr. In the
final heat four of the five colts were
punched at the wire, after having gone
the route with the steadiness of vet.
eran race horses
Director Todd had the step of the
2:11 trotters in each trip, after loaf
ing first halves in 100 or slower. The
five starters in this event finished in
the same positions in each heat except
the last when Sheldon got Indira away
flying and landed third money by plac-
ing.
Fleming headed the 2:20 PAGERS
handily with Violet Patch after the
daughter of Dan Patch had dropped
the opening mile to Marus. Miss Key
OF the Fleming stable took third
money.
New Britain herald. [microfilm reel] (New Britain, Conn.) 1890-1976, 1918-08-03
AIRMAN WITH So VICTORIES
TO HIS CREDIT IS MISSIN

London, Aug. 3.-Major Edward
Mannock, one of England's most sue
cessfm flying men, who had So Ger
man machines to his credit UP to a
month ago, is missing, according to
The Evening Standard.
Major Mannock was last seen fight
ing over the German lines July 90,
when his machine was observed to
fall in flames.
New Britain herald. [microfilm reel] (New Britain, Conn.) 1890-1976, 1918-08-03
"VICTORY-PEACE"
Private Oliver Writes the Boys Will
Not Be Home Until Both Are
Accomplished.

I'VE are not coming home until
Victory is written high and in big
letters, nor until Peace is assured for
all the world" writes Private Burdette
Oliver of Company Ia, Headquarters
company to Mayor George A. Quigley
from France. Private oliver, who is
driving Packard truck in the COM
pany, reflects the morale of local boys
Oliver writes: every mother who
has a boy in the old e, Company may
we'll be proud of him. Everyone of the
boys has given Fritz punishment"
At times the boys have moments of
longing for home, but it does not in
tcrfere when it comes to the lob on
hand" Private Oliver writes that
those at home who are disposed to
do their "bit'' can contri butte greatly
by writing a letter to those at the
New Britain herald. [microfilm reel] (New Britain, Conn.) 1890-1976, 1918-08-03

The M. E. Zion, church II Corbin
place. Morning worship at 10:45 a. M.
the pastor will speak on the subject:
The Power of the Holy Ghost, and
It's Effect" Sunday school at 1890
p. m. Kindly send your children and
set the pace by coming yourself. Hez-
ekiah Baker, Supt. The evening serv-
ice to begin at 500 sharp. Sermon
will be delivered by the paston Sub
ject: THE Blessedness in Volunteer
ing to Service" Good singing by the
choir Soloist Mrs. l.. Nesbitt, organ
list, Marvin GurIey, choir master, Hez-
ekiah Baker. You are invited.
New Britain herald. [microfilm reel] (New Britain, Conn.) 1890-1976, 1918-08-03
St. Marks Church.

Services, Sunday, August 4, 1918.
Tenth Sunday after Trinity. 1880 a.
M, holy communion; IL a. m, holy
communion and sermon by the rec
tor; Wednesday, August 9th, Feast of
the TRANSPORTATION; 1000 a. M, holy
communion; At 1880 p. m. on We'd
nesday evening in the parish house
there will be surgical dressings work.
New Britain herald. [microfilm reel] (New Britain, Conn.) 1890-1976, 1918-08-03
Church
Notices
Emmanuel GOSPEL Church.

FRANKLIN Square. Milton S. Ander-
son, pastor. The pastor will speak at
1o:4o a. m. on THE Meeting Place
where God is Manifest in Blessing."
subject at Z p. m, THE New Birth
OF Man and the New Birth of a Ma
tom Praise meeting at 10 a. m.
Bible school at 1915. Young PEOPLES
meeting at p. m. Open air meet
ing at $50 p. m. A cordial invita-
ton to our new church home