davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1918-02-28
Money and Credit

Call money was frmer yesterday,
the bulk of the loans at the Stock EX-
change being placed on 51a per cent
basis, against the day before. The
tendency was ascribed in part to the
heavy subscriptions from New York
banks to the current Offering of $500,
100000 United States certificates of in
debtedncss.
There was no change in the market
for fixed date funds, rates holding firm
around per cent for practically all
maturitics.
Ruling rates for money yesterday
compared with year ago, we're as fol-
lows:
New-York tribune., 1918-02-28
Equitable Life
To Aid Liberty
Bond Buyers
Will Advance Funds for
Payment, Insuring Pur-
chaser for Five Years

The war service committee of the
Equitable Life Assurance Society, it
was learned yesterday, has worked out
novel plan to assist in the distribu-
ton of the third Liberty Loan, which
is expected to be hoated in April I'm
der the terms Of the arrangement the
Equitable viii advance the money to
purchase Liberty bonds of the next is
sue up to $4,000, allowing the individual
to pay for the bonds in semi-annual in
stalments covering a period of five
years or less. The individual who buys
the bonds in this manner must be in
surablc and must take a tive-year term
life insurance policy with the society
for the amount OF the bonds pur-
chased.
Protects Beneficiary
This is the lowest price form Of old
line life insurance, and it will be used
to pay for any balance due on the
bonds in the event of the death Of the
purchaser before the payments are COM
plcted in which event the bonds will
be turned over to the beneficiary, with
any balance that may be due from the
insurance. The purchaser Will be re-
quired to pay the society the same in
terest rate on this loan as the govern
ment pays on the bond.
An officer of the Equitable in dis
cussing the features OF the scheme,
L.. =, 10,
1t is designed to assist in popularzing <
the Liberty Loan idea among people OF
moderate means. The contract is not
intended for people of wealsh who
might proportionately finance their sub
subscriptions by bank loans. 1t en-
couragcs' thrift by supplying the indi-
vidual with a chance to save money
and to give him the comfort of know
ing that in the event of his death he
viii not leave this debt hanging over
his family, but that The full loan will
become an asset and the bond delivered
to his beneficiary, fully paid up
Will Allocate Credit
arrangements will be made, and, in
fact, already have been made in many
instances, so that the communities
where these individual loans have been
made will get credit in making up the
allotment assigned them by the Nation
al Treasury Department. The scheme
is thoroughly worked out and instruc-
tions have been issued to our field
forces. numbering 5000 men. who are
now ready for the official announcement
of the next loan by the government to
get into action. This plan is one phase
OF the work Of the war service COM
mittce of the Equitable Society, whose
duty it is to study out and apply meth
DDS of assisting the country IN the
present war criSls.'
New-York tribune., 1918-02-28
Failures in Holland

According to an Amsterdam CONNER
clal bureau the number of business
failures in the Netherlands during the
year 1917 was 9l7, compared with i i.043
IN 1916. The number in 1915 was | $50
and 1917. is attributed to the fact that
of failures in 1916, compared with 1918
and in 1914 l,472. The greater decrease
the elimination of profitable trading
caused by the war was reached in 1916
New-York tribune., 1918-02-28
News Digest
FOreIon

Featurclcss Day on London Board
LONDON, Feb. 27. Money was in IN
creased demand to-day Discounts
were quiet. Trading or the Stock E.
change was dull and almost featurt
less. A few katfirs, copper mines ani
oil shares received attention at stesdI
prices. Russian funds were shsde
harder, bat Russian mines we're easy
Gilt-edged securities maintained theii
levels without increased business.
New-York tribune., 1918-02-28
Other Cities

Great Lakes Towing Divideno
ENELAND, Feb. 27-Directors =. ~
the Great Lakes Towing Company II
day declared dividend of 5 per e.
on the common stock for the enss'ss
year The dividend will be paid GUN
teri y, IA per cent being voted ~
each payment. The first payment Va.
be made on March 80 to stockholae','
of record March Is. The regular
per cent dividend was also declared ~
the preferred stock.
New-York tribune., 1918-02-28
Branch Bank Bill Reported

WASHINGTON. Feb. 27 Nation
al banks Of S1,0oo,oo0 capital in cities
of 100000, in states where state banks
are allowed to establish branches,
would have the same privilege under
a bill favorably reported to-day by the
House Banking and Currency Commit
tee.
New-York tribune., 1918-02-28

The above rates express the cost Of
foreign money in terms of the Ameri-
can dollar You buy an English pound
sterling at say. s4.15l@s. The intrinsic
parity is $4.SG3s per pound. Thus you
say either that pounds are at discount
or that dollars gre at premium which
is owing to the fac, mat in England
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 accounts in
Enyland
New-York tribune., 1918-02-28
The Dollar in Foreign Exchange

Heavy inquiry from London for
Dutch exchange yesterday was recpon-
slbie for a sharp rise in the rate for
guilders in this market. They closed
New-York tribune., 1918-02-28
Foreclosure Suit Against Federsl
Dyestutfs and Chemical Corpo ration.

A bill has been fil4d in the United
States District Court in Tennesse
against the Federal Dyestuif and Chez
zeal Corporation calling for the ss
polntment OF receivers N foreclosun
Next Tuesday hearing on the SUI
VIII be given IN the Tennessee cour
The litigation arose from a desire q
the part OF the interests allied VIII
the Equitable Trust Company to hasiss
a reorganization OF the company. Tp
suit was brought by the committee q O.
note holders, headed by Alvin "
hrech. These notes, Of which Sow,
600 are outstanding. fall due on JTf
!, but as the interest due on Decemo
! last remains unpaid the commlt'I
has asked the trustee of the mortga4
10 declare the principal due. 1,
Sugar Credit AIiotments. Total saVs
scriptlons to the 100000, 600 Cubss
sugar credit arranged at the sugges
tlon of George u. Rolph. chairman
the lntcrnatloHr Spg4r Commlttes
with New York bankers amounted
Sl1}, },200, eco. As Il result OF the osss
subscription all subscriptions of SIN,
600 or more were allotted 81 per ess
of their participation. while subseiEf;
tions under 100000 we've allotted sE
full.
New York led with total subseN i
tion to the loan of S74,625, 600. Phg Y
delphia took Sll,l00000; Chicago sis
100000: Boston, S5.150 900; New "
leans, S2,250,000, and other cities ~
925, 900
New-York tribune., 1918-02-28

Commercial Paper. Prime CONNER
cial paper was quoted yesterday at 81
to per cent for six months maturitics.
Discount .Rates.-Ofc:al rates OF
discount for eacn Of the twelve Fed.
eral districts are AS follows:
New-York tribune., 1918-02-28
Copper Meetings Fo-Morrow

Copper NectTn2s To- U-ETUrrUW
The directors of the so-called por
phvry copper producing companies
the Utah, Chino, Ray and Nevada Con
solidated are scheduled to meet to-
morrow for action on the regular quar-
terly dividends. 1t has been reported
in The Street for several weeks that
a reduction might be expected in the
quarterly rate on Utah Copper
New-York tribune., 1918-02-28

Dealers in foreign exchange as
sert that the various regulations
adopted by the government to pre-
vent alien enemy transactions in
exchange are having an important
effect on the market in that prac-
tically all speculative operations
have ceased. Such transactions as
are now put through from day to
day arise out OF actual trade opera
tons. The necessity of making de-
tailed reports of all such transac-
tons to the government no doubt
explains why spectators have aban-
doned this field of operations. This
is a good thing according to some
of the large foreign exchange deal
ers, who say that in the past the
SPECTATORS have been able at times
to depress exchange values IN SEN
sational manner when such q move
ment was not warranted. The war
has brought many changes in this
interesting market. The tendency
has been toward a general curtail-
ment Of exchange operations owing
TO the big government credit trans
actions and the special arrange
ments which have taken the pay
ment of exports or imports out Of
the regular exchange channels.
New-York tribune., 1918-02-28

Consolidated Brokers Hear Talk on
Income Tax Continuing heir cam
paign of education or tne inccnle Ia <
law, William H. Edwards. collector
the Second Revenue District. ara,
George W. English, an attornes rcpr1
sentlng the Treasury Departmens J.
Washington, spoke before the me-. y
bers Of the Consolidated Stock N
change yesterday afternoon. Tslkins'
along the lines of his address on Mon
day before the members Of the Stock
Exchange, Mr.. Edwards pointed OH
that just thirty-two days remain for
the Consolidated brokers TO file thels
returns. He added: "As collector. %
not want you to file your returns af!ei
April l, for, as a government Official.
shall have TO penaiize your pocketbook,
and that always hurts So take war;
lng'
New-York tribune., 1918-02-28
70 y
Over Over {
Bank Clearings.-The DAYS ba,

Bank Clearings.-The days bank
olearinss at New York and other
cities were:
Exchanges. Balances
New York. k..... $3.50, 165, 800 s47 7eO6,o o7o
Roston. 42.513.378 1876
Philadelphia. 64,525,775 11,54L7S5
Sub-Treasury.- The banks gained
S54G,ooo from the sub-Treasury yes
terday.
Silver.-Bars in London were quoted
at 42l2d, unchanged; New York. S51sc,
unchanged Mexican dollars. 6Slac, an
increase of nc.
New-York tribune., 1918-02-28

Wall Street has been talking
hopefully during the last fortnight
of prospects for great bull spccu-
lation. 1t is argued that since the
stock market has discounted such
catastrophies as the Russian col
lapse, and has stood, with scarcely
q tremor, the test of events so dis
turbing as the fuel crisis, the
worst is over and there will now be
a rapid revival of confidence in Sc
curity values, and, in turn, re-
ncwal of speculative activity on the
part of the public But this is
negative argument, whereas only
positively favorable developments
could persuade the public to in
dulge in another orgy of specula-
ton. Besides, those who take this
position ignore a number Of factors
which figure Importantly in the
equation. There is a great shortage
Of labor, which may tend to reduce
agricultural output this year; non
essential industries are being
starved for credit; the government
is about to undertake campaign
to float the largest loan in history;
it is still uncertain as to whether or
not the much advertised German
drive is to be attempted, and the
money market is in such condition
that it is difficult to seq how a
great speculation could be financed
at this time. These are not condi-
tons upon which to base a bull
speculation. 1t is true that the
markets have been overliquidated
and that imitation has not yet ex-
crted the influence on prices that 1t
is bound to exert in the long run;
but the chances are that We shall
have a professional market for
some months at least, though mean
while prices may work higher.
New-York tribune., 1918-02-28
New York

Tobacco Cornpany Offers Stock.-Th
R. J. Reynolds Tobacco Company i
offering to common stockholders of rec
ord February 10 $5,OO0,00O Class B com
mon stock at par. Shareholders hawI
the right to subscribe Cor one shan
OF Class B stock Tor every -shasea
OF common now held.
New-York tribune., 1918-02-28
Wheat Shipments Help Up

Another factor that will rcadjust ex-
change in time is the movement of
wheat from Canada to Europe There
are some 65,000,000 bushels of wheat to
come out yet, which involves some
S140,000 600. Part Of this wheat has
already been purchased by the Wheat
Exports Company, and the remainder
will go to the same interests. The
congestion in railway traffic, however.
has prevented the delivery of the wheat
on board ship at the seaboard, and the
Wheat Exports Company has been un-
willing to pay for 1T until delivered.
Most of this wheat will be held in .hc
Canadian West until the opening Of
navigation, late in April. The Wheat
Exports Company has large credit in
the United States on account of Great
Britain to buy this wheat If the con-
ference decides to make the advance
which is understood to be under con-
New-York tribune., 1918-02-28

Below is given the current exchange
value Of foreign monev in dollars and
cents, together with the intrinsic gold
parity, as calculated by the United
States NJ int:
New-York tribune., 1918-02-28
Would Provide for Pay
ment of Overdue OBJ
legations
Also Funds for War
Orders in Canada
Want Advance on Wheat
Held Up by Con-
gestion
Speci0l Correspondence

TORONTO, Feb. 26.-As result Of
the coneferencc held in Washington
this week between Treasury officials,
Lord Reading, Premier Borden and A..
X. MacLcan, acting Minister of Fin
ance, it is likely that new credit Of
$3000OO,00 or S40O,O0O,0O0 will be
granted by the United States to Great
Britain. The objects, it is undcrs stood,
arc to provide for payment of overdue
British obligations in the United
fund for resumption of heavy produc-
tion of war materials in the Dominion.
1t is also probable that the Wheat
Exports Corporation will advance $25,-
100000 in anticipation of delivery of
Canadian wheat. II these measures
are taken Canadian exchange on New
York will benefit. At present the rate
is against Canada to the extent of
about $13.75 per $1,000.
Creditor Elsewhere: Debtor Here
Canadas s international financial re
lations are peculiar in that while
Canada is a creditor nation to the cx-
tent OF some SSOO,O0O 900 to countries
other than the United States, due to
excess exports, this country is debtor
to the United States to the extent of
some SA00,000,o0o due to excess I'M
ports to Canada from the United
States. Canada cannot promptly meet
her obligations TO the United States
until her debt6rs pay up.
This situation creates two important
problems, the riehting Of exchange and
the maintenance of business ir Can
ada on a large scale. War orders from
Great Britain Lave lately fallen off
seriously Britain wants to place. in
Canada as many orders as the country
can handle, but for this new credits
are necessary. The effect Of the de
cline in war business is indicated by
the fact that whereas some $4,000
women were working in munition
plants in Canada a year ago, few arc
employed now. A considerable num-
ber of men nave also been released
from munition plants. Canada has re
ccived q fair amount of war orders
from the United States. but not sut'i-
cient to counteract the decrease in
the volume of orders from the United
Kingdom. These United States orders,
however, eventually Will tell in the
balance of trade between the two coun-
New-York tribune., 1918-02-28
Air Brake Profits

report of 1917 operations. to be issued
to-day, is expected to show approx
matcly s1,9Oo,0Oo earned on the stock
after all deductions. including war
taxes and an unusually large amount
Tor depreciation. In 1916 the company
net profits OF ss.2O0.000 The
directors only recently put the stock
on an annual basis of 20 per cent. Divi-
dends declared last year were paid out
Of 191Ei earniuWs.
New-York tribune., 1918-02-28

stock Exchange Listings. The y
lowing securities were admitted =
trading on the Stock Exchange yesg
day: S3,0o0,000 preferred stoek.
Montgomery Ward & CO., Inc.; s'V
600 stock OF the Columbia Bank.
New-York tribune., 1918-02-28
Relevant Comment
st. Paul Meeting To-day

Chicago, Milwaukee g. st. Paul com
mon stock sold off 1s points to 1919
yesterday on turnover of $500 shares.
The preferred closed unchanged at
701a. To-day the directors hold their
regular monthly session, when it is ex-
pected that the question of dividends,
postponed at the January meeting, VIII
be considered. In this connection the
following comment of the Stock Ex-
Of interest: "This st. Paul dividend
problem fairly ought not to be finally
settled until there is some understand
ing between the Director General OF
Railroads and the management of the
st. Paul property. We only know that
{, government guarantee OF net operat-
ing income on the basis contemplated
by the Congress bill for the average OF
the three years ended June 30, 1917.
would enable a continuation of at least
the 4 per cent rate on st. Paul com
mon shares 1t seems to be distinctly
favorable for roads in the position OF
the st. Paul, which have earned their
dividends in the period adopted as the
Federal basis for calculation OF rev.
enues, bul which by reason OF the nat
ness of the bend market have been un-
able to capitalize the expenditures on
cuu anu iOdu, NIliCll Hd'C pS'.t
therefore Of necessity charged up to
the income account. There IS a very
pertinent question whether road
which has been doing so large volume
Of gross business necessary for war
should not be given every consideration
by the railroad control in determil,a-
ton Of dividend policy"
Federal Reserve Bank officials yes
terday said that the subscriptions to
the latest issue of Treasury certif-
Gates of Indebtedness were "most graf
flying" Of the districts quota Of
S194 100000 out of the total issue of
$500 100000 more than half has al
ready been subscribed. Over 500 sub
scribers have participated in the offer
ing to date, compared with total of
500 shown when the subscription
books for the last issue were closed.
As the books for the current Offering
GO not close until March 5. it appears
that the raising Of the interest rate
from 4 to a z per cent is having the
desired effect OF bringing in a greater
amount of subscriptions from the
country banks.
New-York tribune., 1918-02-28
Finance Economics

WALL SlREEI OFFICE: Telephone:
Building, Ianov.r ssA
New-York tribune., 1918-02-28

Yesterday. Year ago
Call money...... 500 2oo
Putnam patriot. [volume] (Putnam, Conn.) 1872-1962, 1918-11-29
FUNERAL OF ARTHUR }. MICH.
OILS

Funeral services for Arthur Jefer-
son Nichols, son of Mrs. Maria b.
Nichols, who died at the Day Kimball
hospital last week Wednesday. were
held at the Methodist church Sunday
afternoon at 80 o'clock, Rev S. J..
A. Rock officiating. Delegations
from the Odd Fellows. Moose. Red
Men and Woodmen, Of which Mr..
Nichols was a member. attended, and
there we're beautiful floral pieces
from each organization, besides flow
ers from individuals The bearers
were Walter p Torrey and Arthur
LOOMS. represe ting the Odd Eel
lows; Peter A Gatlner. representing
the Red Men. ana Adds WEIGH, rep
resenting the Moose
The body was takea to Douglas fer
burial, where q communal service in
charge Of the Oda Fellows was held
Putnam patriot. [volume] (Putnam, Conn.) 1872-1962, 1918-11-29
MISS DANIELSOS ELECTED
COUNTY CHAIRMAN

At one Of the largest gatherings at
any convention ever held BY the Con
necticut Womans Suffrage Associa-
ton, at New Haven last week Thurs
day and Friday Miss Rosamond Dan
ielson Of Putnam Heights was re
elected chairman for Windham coun-
y.
The executive board is practically
the same as last year.
In a very few minutes the conven-
ton pledged 1854. the largest sum
ever raised at suffrage convention.
The feature Of the convention was
the evening speaking. which follow
ed the annual suffrage dinner held in
the grill room of Hotel Taft Thurs
day evening Over 200 guests and
delegates were present. The conyen-
ton as whole was regarded as the
most successful ever held.
Putnam patriot. [volume] (Putnam, Conn.) 1872-1962, 1918-11-29
FORMER PUTNAM WOMAN
HUSBAND DIED SUDDENLY
George ( Allyn sueesmbed to Heart
Trouble Lat Friday

George z Allyn, fer IS years 81
perintendent q distribution q the
Providence Gas Company. died sud
denly At his Providence home last
week Friday afternoon from Al en-
solizr u the heart
Mr.. Allyn leaves his wife. who Vas
kss Haude West Of Putnam Mss
West first husband was Ivan D Bill
hays Of this city They were d.
voreed and in 1906 Ms Billings mar
ried Mr. Allyn. Mrs. Allyn is 3 SISTER
IF kiss Grace West Of Putnam. book
keeper for the 3 D Bagbee store.
Mr. Allyn went home 70 lunch FRI
day noon and later, complaining q
IIlaess. said that ne thought the Is
Gaping gas in the holder affected
him Medical aid vas summoned.
bat death followed quickly lie was
born ia Br9okline. Mas. July -
1879. ard graduated from ne RindEa
Manual Training school il Cam
bridge. Mass He then went for a
year 70 the lawrence Scientific
school at Harvard at the end d
which he was employed BY the Cam.
bridge Gas Light Company His IA
sA~r, the late Horace A Allyn. va
superintendent Of the company 70
nany years
Putnam patriot. [volume] (Putnam, Conn.) 1872-1962, 1918-11-29
TWO AUTOS COME TO GRIEF

Two automobiles got into trouble
Sunday and both machines we're dam
aged. but the drivers escaped without
injury.
In the early hours q Sunday morn.
ing touring car driven b. Louis r
Carmark ran between telephone
pole and the Prentice ice house The
car had been driven BY Mr. Carmark
from Providence and he vas on his
way to his home on Mechanics street
at an early hour. From the appear
ance Of the track made by the ma
chine it looked as il one of the rear
wheels must have dished on the turn.
The car. which was wedged between
the pole and ice house, was consider
ably damaged
In the afternoon a 31a ton truck
owned by W J. McGilpin Of South
bridge, and driven BY Herman Slaves
Of that place, got into trouble on
Tucker hill east Of the city on the
Providence turnpike In attempting
to avoid collision with car coming
in the opposite direction the driver
turned out too far and all but tipped
over
Fred Gagnon. local truckman, got
both cars out The Carmark car was
taken to garage Tie truck was
able to proceed under its own power
Putnam patriot. [volume] (Putnam, Conn.) 1872-1962, 1918-11-29
CHICKEN THIEVES AT WORK

One evidence that the Thanksgiv-
ing season was approaching was the
activity of chicken thieves the past
two weeks Although there is Sc
we're penalty for this, the meanest
kind of thieyery, there always seem
to be those willing to take chance
Two known thefts occurred in the
city the past two weeks. Samuel
Smith lost twelve birds and Louis
Chapdelaine fourteen No disturb
ance was heard at either coop and in
the case of Mr. Chapdelaine, he was
sitting up reading until ? O'Clock in
the morning, but did not hear a
squawk from MS hennery. The thieves
evidently know how to put the silenc-
er on the fowl.
Putnam patriot. [volume] (Putnam, Conn.) 1872-1962, 1918-11-29
FISHING OUARTETTE AND FAM
lilies HAVE TURKEY DINNER

Here they are again. The fishing
quartette headed By Alderman-at-
large Joe Lapalme and Fire Chief Al
phonse Bourcier, jump into the lime
light as leaders Of knife and fork
brigade that does good work.
The latest advance of the quartette
was made in st. Johns hall, Provi-
dence street, Thanksgiving day, when
members of the quartette and fam
lilies numbering about 80 sat down to
a fine Thanksgiving dinner There
was a turkey, nicely Drowned, that
lacked but few ounces of 20
pounds; there were several chickens
that added TO the quantity There
were vegetables. cranberry sauce,
pastry, pie, cake, coffee and ginger
ale One fine menu. The gathering
did not put the time limit on the din
ner and belts were loosened and ev-
eryone ate and ate and ate and the
only reason they stopped was because
they could not eat more There was
enough left to feed good sized par
ty Following the dinner the gather
ing enjoyed social intercourse and it
was a real time, a Thanksgiving time,
and an after-the-war-eeleb Ev-
cry one was as happy as ginger ale
could make them, that is, on top of
fine dinner in charge of Putnam's
fire chief Credit is due to the la
dies for the pies, cakes, etc, that
they made for the feast
Putnam patriot. [volume] (Putnam, Conn.) 1872-1962, 1918-11-29
CAUGHT MINK IN TRAP

Vilmore Vegiarl Is, son of Mr.
and Mrs Prosper Ee hard is estab-
fishing a reputeu as a trapper
Monday morning there was exhibited
in the barber shop Of Timothe Tet-
reault, where Mr. Vegiard, Sr, is en-
ployed fine specimen of mink that
the boy had taken from one of his
traps While it may be that the pelt
is not prime at this time Of year. il
was certainly a fine specimen. There
are few mink being trapped herea-
bouts nowadays, but their skins are
valuable