davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1918-12-21
Cancel Regulations
On Flour Milling
Lower Prices Expected to Fol-
low Action by Food
Administration

WASHINGTON, Dec 2O-Cancella-
ton Of all flour milling regulations,
including fair price schedules and the
price and quantity restrictions on the
sale of wheat flour by millcrs. which
officials expect will result in cheaper
-four, was formally announced late to-
day by the food administra ton.
Notification Of the action was tec-
graphed last night to all zone agents
of the food administration grain cor
poratlon, and to-day there was a sharp
rise in the price of wheat bran and
other mill feeds on the Minneapolis
market, which officials expect to be fol-
lowed by drop in flour prices.
Existing regulations restricting mar
gins Of profit on flour and mill feeds re-
main in effect, as do general regula-
tions of the Food Administration pro-
hibiting profiteering, boarding and un-
fair practices, and officials said these
would be strictly enforced.
The prediction of cheaper flour to the
consumer, it was stated at the Food
Administration, is based on the imme-
diate rise to-day in the price of mill
feeds, amounting to several dollars a
ton. Close observation of the marke It
trend in flour and mill feeds, made by
the Food Administrations milling divi-
sion and grain experts, it was said,
showed that with every upward move
meni of feeds came fall in the price
OF -four on q basis of an average drop
OF 3-100ths and 4-100ths cents barrel
on -four to every 81 a ton increase on
mill feed.
MINNEAPOLIS, Dec. 2o.-The price
of bran jumped from $27.73 to SAG a
ton here to-day, the sudden rise being
due to the removal of all milling re-
strictions by the government.
New-York tribune., 1918-12-21
> u S t e IL nee
Cereals

"heat.-The main factor of interest
in the wheat market yesterday was a
sweeping change in the food regula-
tons covering the manufacture and
sale Of -four. Practically all of the
rules which have governed the milling
and sale OF flour since the inauguration
or the FOOD administration were lifted
and the milling industry now goes back
prnctically to prewar basis This
means that milss will no longer be
compelled to manufacture the 100 ner
cent -four prescribed during the war.
nor will they be compelled to sell at a
liked maximum basis of profits. Han
dlers OF flour Will also be relieved Of
the restrictions which have governed
the purchase and sale Of -four.
Corn.-New high records for the new
season were established in all the near
positions in the corn market. with ac
tive general buying. Shorts were very
nervous and inclined to cover and stop
loss orders were encountered on the
advance. The principal bull factor
was heavy rains over the entire corn
belt, which were expected to cause a
further falling off in the movement.
Country roads were already in bad
shape. and as rains were expected to
continue throughout Saturday it will
doubtless be some time before farmers
can again haul corn to market.
es'day's Previous Yca-
ne" YORK: close. close. ago.
Corn, No. 2 yellow. s1.7cM s1.e7I4
Chicago:
January ...... t.39Is 43s7a
March ........... 1863 1.343a
Aay ''.'.'.'.'...: 1.ao7a 1.a47s $t.2aa4
Oats.-The oats market was frmer.
but the advance in prices was largely
the result of the action of corn. The
demand was slow outside OF covering.
New-York tribune., 1918-12-21

Call money loaned on the Stock
Exchange at 31s per cent yesterday.
This was the lowest rate since last
July. Yet it brought no response in
the stock market, where prices de-
chned as rule. with the railroad
stocks taking the lead. Losses in this
department were rather heavy and
at the bottom the better grade rails
showed declines OF S TO 10 points
from the high prices of two months
ago. In connection with the easier
call money situation it is significant
Of present conditions that CONNER
cial paper rates declined to an av-
erage of 5la per cent, which COM
pares with level of 6 per cent for
almost a year past. Banks in the
interior of the country are the prin-
cipal purchasers of paper, although
local institutions have begun to add
20 their commercial discounts.
More than usual interest at
tached to yesterdays sale of $780,
100000 of Pennsylvania Railroad
general mortgage per cent bonds.
1t was the first important railroad
financing that has been arranged in
q long while. In view of the gen
eral railroad situation with regard
to future control it was a coura-
geous undertaking to attempt to sell
railroad bonds. This made the quick
oversubscription all the more graft
flying 1t is an indication that there
is still confidence in the future of
the country's railroad properties
and that people are ready to invest
their money in prime railroad secu-
rites, despite developments at
Washington. 1t is understood that
other important railroad financing
will follow shortly.
The export movement continues to
broaden as additional ships are made
available from day to day. This is
seen best, perhaps, in the tendency
of shipments of grain and cotton.
In the week ended Thursday g.,
S34,252 bushels of wheat left the
country for export, the largest
amount in more than two years and
four times the rate at which ship
ments were being made in October.
As regards cotton, shipments are
steadily increasing. Advices from
Galveston yesterday were to the
effect that twenty steamers would
arrive there in the course Of the
next fortnight to carry away cotton
TO foreign points.
New-York tribune., 1918-12-21
GULF AND SHIP ISLAND
RAILROAD COMPANY

THSt MOftKaRe Refundnx and TrruIno,
Five Per Cent. Gold Bonds
., AS provided in Section Seven of Article
two t OF the Mortgage securing the issue of
trustee, will receive sealed proposals u; ia
3 r NJ on January 7th 1918 for the sale
20 II OF 3uch bonds for account OF the Sink
ing Fund, at d price not exceeding 10 per
cent and accrued interest to the amount Of
S'7,s5o:75, conditioned upon the payment TO
ms undersigned of that amount on or before
Mortgage
THE NEW YORK TRUST COMPANY.
Formerly New York Security and Trust
Company. Trustee
BY T. G. CURTIS. Secretary.
December 7th. 1918
New-York tribune., 1918-12-21


John A. Carver, of the law firm of
Shearman & Sterling, has been elected
q DIRECTOR of the Citizens National
Bank, hlllng a vacancy on the board
James +. Hutchings has been elected
president of the Rochester Railway and
Light Company, succeeding the late
II. E. Andrews.
The United States Mortgage and
Trust Company has voted to give its
employees bonus Of 20 per cent of
the salaries paid them during the year
1918.
The directors of the Citizens Ma
tlonal Bank have authorized the pay
ment of extra compensation to the en-
ployes of the bank for the quarter
ending December 81, amounting to 90
per Gene of their annual salaries. max
ing total Of 40 per cent additional
compensation for the year
New-York tribune., 1918-12-21
Reserve Bank Dividend

The directors Of the Federal Reserve
Bank, OF New York, declared yesterday
the regular semi-annual dividend of 3
per cent on the capital stock Of the
institution, of which there is S20,S00,-
600 outstanding at the present time.
The dividend is payable December 81.
This rate has been paid FOR year or
more
New-York tribune., 1918-12-21

NOTICE, SEALED PROPOSALS. Will, RE
received until o'clock p. n. December 81 .
pany Tor Insurance on Lives and Granting
Annuities. Trustee, Tor the sale 10 il Of as
Iiany many OF tn9 fhiiadgiphia. Wilmington and
Baltimore Railroad Stock Trust Certificates
as s153.3IS Will purchase.
The Offering at The lowest price not exceed
than the amount stated. viii be accepted the
parties Offering them advised at once. and
payment made on January :. 1919. Upon
proper assignment OF the certificates
Iroposals should he endorsed s.Proposals
fer the sale of Phiia delphia. Wilmington 4
baltimore 4. K. Stock Trust Certificates.
and addressed tc
THE PEN>SNfvANYA COMPANY Fov
iNsUkANCE ON aktB~ AND
GRANTING ANNUITIEs.
o.! Chestnut 81. PhiA-. Pa.
New-York tribune., 1918-12-21
Relevant Comment
Pennsylvania Bonds Popular

The celebrity with which the s50,oOO-
600 general mortgage per cent bonds
of the Pennsylvania Railroad, offered
yesterday, were sold afforded another
striking example cf the readiness with
which investors and institutions seem
willing to take high grade long term
railroad bonds. The market was tested
for the first time in over year fort
night ago, when an issue of $1O,5O0.OO0
Chicago e. North Western bonds, due
1887, were ovcrsold about seven times
Kuhn, Loeb & Co., the offering bankers,
announced that the Pennsylvania over
subscription was substantial
New-York tribune., 1918-12-21

The above rates express the cost Of
foreign money in terms of the Amer
lean dollar. You buy an English pound
sterling, say, at s4.75S0. The intrinsic
parity is $4.S65s 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 country
for pounds with which to settle ac-
counts in England.
New-York tribune., 1918-12-21
DIVIDEND NOTICES
DeCemner 70. IyIt
TOBACCO PRODUCTS CORPORATION
MERICANI0Co,1nrlxE CoNpANY

80 Church Street New York, Dec. O. lsi@
quarterly dividend Of one and 'nDs'. ns
quarters per cent G = - upon the r. r.
ferred capital stock Of the American i9S, ss.
motive Company has been declared pay%p.s
on January p. 1919. to The Preferred s'Ocs
holders Of record al the close Of bushes ~ ~
January 3, 1919. Dividend checks WIZ y
mailed January 20. 1912
a quarterly dividend Of one and ons.
quarter par cent. az 81 upon the coinnv'
capital stock Of he Company has been ~ ~,
clared payable on January 3. 1917 10 w.. ~.
common stockholders f record a. the ~. Nv.
Of business on December lS 1918. ~, ~
dend checks wiz oe matted January :. "
W SPENlEK E0EEETSON. SecretaIl.
New-York tribune., 1918-12-21
Other Cities

Rail Contracts Signed WASHING
TON. Dec. 20.-Standard form con-
tracts between the railroad administra-
tion and the New York, Ontario &
Western Railroad for an annual rental
OF $2,103,5S9 and the Minnesota and
international Railroad for an annual
rental OF $2O2.45o were signed to- day.
A contract with the Great Northern
Railroad is expected to be signed
shortly
New-York tribune., 1918-12-21
The Dollar i'm Foreign Exchange

Demand sterling rates were firmly
maintained in the local market yester-
day. The general market was dull
with no important movement in rates.
Closing rates yesterday, compared
with q week ago.. follow:
(Quoted dollars 30 the pound.)
New-York tribune., 1918-12-21
New Low for Liberty AIS

Almost every day one can hear n
new explanation for the heavy liquida-
ton in the fourth Liberty 4A per cent
bonds Yesterday it was stated that
many who had held lucrative positions
in munitions plants and now find them
selves out of work are selling their
holdings. Judging from the manner in
which the bonds have been declining, it
seems likely that whatever logical
reason is assigned to account for their
weakness it is probably true The new
low price on the Stock Exchange yes
terday was $3.50, more than point
below the closing quotation on the
third Liberty AIS.
New-York tribune., 1918-12-21
Money and Credit

An absence of demand combined with
larger offerings to force call money
1ates still lower in the local market
yesterday. In the afternoon a small
amount OF money was placed at Y per
cent The days ruling rates were above
that level, however, standing at to
4 1a per cent.
Larger amounts of fixed date funds
were also available during the day and
leading institutions offered money at
ia per cent for the shorter maturities.
Borrowers are bidding 512 per cent in
anticipation of further lowering of
rates. Interior banks are active in this
market.
Ruling rates for money Yesterday
compared with q year ago, were as
follows:
Yesterday. Year ago.
Per cent Per cent.
Call money:
New-York tribune., 1918-12-21
rur H.Nk or AMERICA

Now YORK Dec 4V..l' =, +.
The Board of Directors have 'o,u11 70, sf,ssa
ciared semi-annuai dividend ol ise.
uary md. 1879, To stockholders o. w.
OF This dat~ .,.s.5
The transfer books HiA roman CIV
until January Bra. 1919 his,
" Vi. BENNET. cashls-
New-York tribune., 1918-12-21
The Importers & Traders National
Of Aexs Nh

New York. Dec goth .ss e.
A dividend OF "Wolve Per Cent an.~s5c nas
day been declared 10y this bank Ths
on the 2nd day OF January ns,s d m tsa.
transfer books Viii -.masa closed, .hier
date e = TOWNSEND. NSs~-
New-York tribune., 1918-12-21
Alaska Juneau Financing Plans

AIaska JuncAu Flhanclng PIans.-~
The Alaska Juneau Gold Mining Com
pany has called special meeting Of
stockholders for January 1 to vote on
ten-year per cent bonds. OF which
S1,500,000 may be exchanged at par for
outstanding obligations and floating
debt, S500,000 to be sold at not less
than par to stockholders to provide
funds for alterations and enlargement
of the milling plant. and the balance
70 he reserved for future requirements
New-York tribune., 1918-12-21
News Digest
Foreign i

Paris Bourse.-PARIS. Dec. 90
Prices were weak on the Bourse to- day.
Three per cent rentes, 81 francs rs
centimes for cash. Exchange on Lon
don, 25 francs 971a centimes. Five per
cent loan. IS francs / 3 centimes.
New-York tribune., 1918-12-21
sEABo>RD NATIONAL BtNh.;s

New York. December ~, - las
The Board Of Directors has dec.Ssl "A ps
regular quarterly dividend of Thres ess,oseaho.
cent, payable January , 1919 20 s''
ers of record on Deceinlrc %. l9ts-..sher
Il. W DONOVAN O@s->
New-York tribune., 1918-12-21
Butter, Cheese and Eggs

Butter. -,Receipts, $500 packages.
Creamery higher than extras, lb, 700
7OAc; extras, 90 score, 69hc; firsts,
89 to 81 score, 64M68hc; seconds, 80
to 81 score, 59M63 &c; lower grades,
720 721ac; extras, 71M71hc; firsts, 66
d70c; seconds, Goa 65c; state, dairy
tubs, good to prime, 63M66c; common
to fair, 52M62c; renovated, extras, 53
(d54c; frsts, 50W52c; lower grades, As
M48c; imitation creamery, frsts, At
d48c; ladies, current make, frsts, 44M
45c; seconds, 43c; lower grades, 41@
42hc; packing stock, current make, No.
/. 4214N43c: No. 2, A1hc; lower
grades, 36M4O1sc.
Cheese.. Receipts were 1,1O6 boxes.
State, whole milk, fresh fats. specials,
colored or white, lb, SO II M37hc; aver
age run, 35 1s M36c; lower grades, 800
35c; twins. specials, 36 Il 037hc; aver
age run, 35l2 q 36c; lower grades. 50
"a 25c; fats, held, as to cost and quality,
3lM37c; twins, held, as to cost and
quality, 511aM36hc; Wisconsin, whole
milk, twins. held, 34@365sc; single
daisies, held, 32Ml37c; fresh, 37@37 1ac;
double daisies, held, 32 II M3614c; fresh.
37@37Mc; Young Americas, fresh. 80
prime to choice, 25M 27c; fair to good,
20@24c; lower grades, 12M18c.
Eggs Receipts, 6,669 cases, not in
Guiding 920 eases for export. Fresh
gathered. extras, dozen. 7lM72c; extra
tirsts 68070c.; firsts, 65 II M67c; seconds,
62@ Csc; fall gathered poor to prime,
50Ql63c; dirties, No. /, 56M57c;. No. 2
and poorer, 44M55c checks, good to
choice, dry, 46M48c under grades 40M
45c; refrigerator. 43@55c; state, Penn
sylvania and nearby Western, hennery
whites, fine to fancy, 90c; ordinary
to prime, 75@88c; gathered whites,
ordinary to fine, 75@8Sc; pullet whites,
70W75c; Pacific Coast, whites, extras,
90c; lower grades, 8O08Sc; pullets,
68M75c; Western and Southern,
gathered whites, 70G83c; state, Penn
Continued on page fourteen
New-York tribune., 1918-12-21
increases

Fidelity-Phcnix Insurance Company.
The semi annual dividend has been
increased from II to Is per cent, pay
able January to stockholders Of
record December %.
New-York tribune., 1918-12-21

London Money Market.-LONDON,
Dec. 20.-Closing: Money, 8 per cent.
Discount rates-Short and three
months bills, 3 1852 per cent Gold
premiums at Lisbon, 1900
New-York tribune., 1918-12-21
Wall Street Items

James F. Hamilton has been elected
president of the New York State Rail-
ways Company, succeeding the late H.
F.. Andrews.
New-York tribune., 1918-12-21
Rock Island Gets Federal Advance -

Announcement was made yesterday
that the War Finance Corporation has
granted an application of the Chicago,
Rock Island & Pacific Railway Com
pany for an advance of SO 100000.
The advance was granted subject to
the approval Of the Director General of
Railroads.
New-York tribune., 1918-12-21
Office of The United Gas Improvemen0s

y. w. Corner Broad ana Arch Streets
Philadelphia. December H. ~ "a
The Directors have this day desi@l "a -,
quarterly dividend Of two per cent 'Sl.gv r.
share. payable January 10. 1918. 10 ssOs., ss.ss
holders of record at the close oil aisss nus..'
December 81. 1913 Checks Will Re nlale- nIo
u MORRIS TreasoI''-
New-York tribune., 1918-12-21
Wealth Commerce

and while the rains were expected to
check the movement somewhat, neither
the domestic traders nor exporters were
in the market
New-York tribune., 1918-12-21
Nominal.

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., 1918-12-21
g range of prices follows:

Southern spot markets follow: Gal
weston steady, 65 points higher at
3l,25; sales. 1885 bales. New Orleans,
steady, so points higher at 29.88; sales,
2.53o bales: Mobile firm, Is points
nah steady, unchanged at 1925; sales,
663 bales. Norfolk steady, so points
higher at 1888; sales, $40 bales. Au-
gusta steady. unchanged at 1858; sales,
291 bales Memphis steady, so points
higher at $3.50; sales, 300 bales. ST.
Louis quiet, unchanged at 29c; sales
nil Houston steady, 25 points higher
at 1925; sales, 3,468 bales. Little Rock
quiet, unchanged at 1850; sales, 176
bales.
The weekend statistics of the New
York Cotton Exchange, with compari-
sons follow:
New-York tribune., 1918-12-21
New York

Awarded Newark Notes. - Alexander
Archibald, director of revenue and
finance of the City of Newark, yester-
day awarded an issue of $1,000 900 six
months tax revenue notes to J. P. Nor
gan & Co. at 4125.
New-York tribune., 1918-12-21
FINANCIAL MEETINGS
TITLE GUARANTEE AND Trust COW
t.>N "a

Notice is hereby given that the sss rits
meeting o The stockholders o. All re hes
Guarantee and Trust Company WI 1sss-osdws,.
al the Oi'ice of The Company, 10 ~ e. Yor
Borough Of Manhattan. Nity OF .,s a. n II
on the Glst day ol January. isA,. sA'ss snsa
O'Clock in the afternoon. and sh@t Nv IN y
election OF Trustees Of said Coil''e.J 70. s.
pace OF those whose terms Wiz I've e
# three inspectors Of Election 70 sf,' ,ss 80.
the succeeding year. viii be held a.. a. Iss hoass
place, on the same day. between 'H'
! .4o and .45 IN the afternoon. .Sp.
J WRAy CLEN NEi,A-ss'ssrs
December 21s;. 1sls ssN--~--'
New-York tribune., 1918-12-21

THE ANNUAL MEETING or tn ;cssapapl, srsapl,
holders OF Herbert w s,oSer snj s*
Inc. for the erection 81 direeeo So p
transaction q such other business VII 3
properly come nefo.e such Haee''ns Ne Y
he'd ut the Office cf the cofnps HHlls,rbst.f
William st. in the Borough ol - S,'s veiFs
m ThcIsaay. January =. 1912 q
- GEORGE {. BAKER. se''s's's
New-York tribune., 1918-12-21

Tobacco Products Stock Dividends.---
Directors of the Tobacco Products
Corporation yesterday authorized the
issuance of S1,600000 common stock
or the payment of the 10 per cent
stock dividend declared last month.
The Capital Issues Committee at
Washington has already approved the
increase.
New-York tribune., 1918-12-21

Commercial Paper.-The tone in this
market is much easier. Competitive
bidding by the banks for such paper as
is offered has forced rates down to 5la
10 oS4 per cent. interior banks are ac~
tive buyers and local institutions are
adding to their commercial discounts
Bank Acceptances. - The general
easing of the money market situation
has broadened the demand for bank ac-
ceptances. Rates yesterday were as
follows:
Thirty Sixty Ninety
Spot de- days. days. days
livery: Per cent.Per cent.Per cent.
e i & bic
e m b er
banks. .4s@4 4A@4a 4s@44
l. i G. | e
non-mem-
Der banks4l4@41s 4as@414 42s@44s
Ineligible
bank bills.51a@5 51a@5 5h@5
For delivery within thirty days:
Per cent
Eligible member banks. ,........Al
Eligible non-member banks. ..... as
Ineligible bank bills s......... 6
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., 1918-12-21

Rye Market was easy.
Yes days Previous Yea
New York: close. close. age
Cash, No. West. .s1.74 $f.z4l2
New-York tribune., 1918-12-21
-Aiaturitiee

The Fxhderal Reserve Bank OF New
York haNs' put in force the following
schedule Of rediscount rates which
New-York tribune., 1918-12-21

apply to bankers acceptances: Ma.
enrlfies up to is days, per cent; IL to
90 days, inclusive, 4,4 per cent; 61 to
30 days inclusive. Az per cent.
Bank Clearings.-Barik clcarings yes
terday were:
Exchanges. Balances.
New York e. $73f,o37,760 $68,265. .063
baltimore 80. 1906, 800 5.776, 199
Philadelphia... 8o,772,248 16,052,027
Pittsburgh 2a,o48,ss7 11,73s,475
Sub-Treasury. - Tt, Sub-Treasury
lost $4,000 to the banks on Thursday
Silver. - London, Ash, unchanged;
New York, 1o1 Is, unchanged; Mexican
dollars, 77}ac, unchanAed.
Weekly Bank Clearings.-Bankc clear
lngs at the principal cities of the coun-
try thus week aggregated $6,21S,0T1, ,O73,
according to r. G. Dun & Co., an in
crease OF SIS per cent. compared with
the corresponding period of 1917. New
York City clearings expanded 60 per
cent.
New-York tribune., 1918-12-21
Flour and Neutrality-suspicious. were:

Yes'day's Previous Year
New York: close. close ago.
Flour. Mimi, spg. pats10.s5 s1o65 SIPS
Colpmeal, yell. gran. 3.75 3.75 4.87Ns
Rye -four, choice 8.sO@92S a.S0@9.25 10 90
Bran, 100-lb sacks -. 1878 35.7S S6.rc