davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1918-01-22
New York

Export Oil Higher.-The Standard
vi Company of New York yesterday
announced an advance Of 25 points in
renned petroleum in cases for export,
MAKING the price 1915 cents q gallon.
Bankers Dinner Cancelled. - The
.lusS company section of the American
oankers Association announced yes
eerday that tie eighth annual dinner.
set Tor February 5, has been cancelled
because OF the uncertainty Of the gen
eral business situation, emphasized by
present transportation and fuel con
New-York tribune., 1918-01-22
Canada Begins Shipping
Gold to Ne1D York to
Stabilize Exchange Rates

Gold imports from Canada began yes
tcrday with the arrival Of $1,000,0OO in
bars at the local Assay Office. The gold
was brought in by the Chase National
Bank. 1t is understood that further
imports are to be made in order 20
adjust exchange rates between New
York and Montreal which are running
strongly against the latter The pre-
MUM on New York funds at Montreal
yesterday was 5-16 per cent
Information obtained in important
banking quarters indicates that Cana
dian interests have received frcn
Washington assurance that any gold
that is released for shipment to the
United States to relieve the present alb
normal situation will be returned t.,
Canada within the next twelve months.
New-York tribune., 1918-01-22
Growth of Trade With
Latin American States
Figures for 1917 About IN
Times Those OF 1913

Trade Of the United States with
South America in the calendar year
1917 is two and a half times as great
as in the year preceding the war. A
compilation by the National City Bank
Of New York shows that the imports
from South America in 1917 aggregated
in round terms $575,O00,000, against
$19S, ,00O, 900 in the calendar year 1918,
and that the exports to South America
exceeded $500, 100000, against Sl47,0O0,-
600 in 1915 and only $9lO00,00 in
1914, the year in which the war began.
South Americas importing power de-
clined sharply Immediately following
the beginning of the war. Her total
imports from all parts of the world
in 1913, the year preceding the war,
aggregated Slightly more than $l,000,
100000, while in 1914 they were but
shown but very slight increases during
the war The banks figures show the
total imports of South America in 1916
as about $620, 100000, against over
81, 900, 100000 IN 1913, and that the total
imports of that continent in 1917 ap-
proximate $3.50, 100000. This indicates
that this country is now supplying over
40 per cent of the imports of South
America, against less than Is per cent
in 1913, the year preceding the war.
The United States is also taking
much larger share of the exports of
South America than formerly. In the
year Immediately preceding the war,
1913, only about 20 per cent of the ex-
ports of that continent came to the
United States, while the latest avail
able figures Of South American exports
for 1917 indicate that we are now re-
ceiving fully 40 per cent of her ex-
ports. The total imports from South
America in 1917 were, in round terms.
$575, 100000, against $429, 100000 in
1916, 1922 100000 in 1915 and $19S,000,-
600 in 1913, the year preceding the war.
New-York tribune., 1918-01-22
Gas Sales Increase.
But Co1lsolidated's
Income Falls Off
High Cost Of Coal, Oil and
Labor Adds Heavily<to
1917 Expenses

How the scarcity Of coal, coupled
with the extreme cold weather which
hit New York the middle of December
and has continued with little modera-
tlon ever since, has increased con-
sumption Of gas in this city is indi-
Gated in the annual report of the Con-
solidated Gas Company, made public
yesterday.
Until December, 1917, the combined
maximum days output of the company
and its affiliated enterprises had
amounted to 25,148,O0O cubic feet. On
december 10 the output was 129, ,959,-
oVo cubic feet and on December 81 it
mac mad jumped to 155,006,O00 cubic feet.
The output for the last three days of
December aggregated 46O,613,OOO cubic
IecI, an increase over the three corre-
spending days in 1915 of 1874 4,297, 900
cubic feet, or 41.16 per cent.
The maximum days output in De-
cember exceeded the maximum days
output prior to that month by 1885,
QUO cubic feet The scarcity of coal
created an extraordinary demand for
room-heatlng appliances, the daily
sales OF which exceeded all previous
records. In five days 5,O44 of these
appliances were sold.
Years Gross Income Falls
Gross income of the company for
1917 amounted to $9,234,236, compared
with S10,147 ,62O in 1915. Of last years
total, $2,538,279 was operating income
and S6,695,957 other income, which was
derived chiefly from earnings of the
New York Edison Company. The sur
Plus after interest charges of $1,493,-
lo9, was S7,741, ,077, equivalent to S7.75
share on $99,s16,5oo capital stock.
against 1857 share earned in 1916
and $S.52 a share in 1915.
In the report Of the company, George
3. Cortelyou, president, gave figures
showing the heavy increases in oper-
atlng expenses in 1917 due to the war.
The price Of practically all mate
rlals and suppHes," he said, Increased
very materially in 1917. The same was
true of labor. The price of boiler coal,
used in generating electricity, in
creased 59.2 per cent, and Of anthracite
ana bltumlncus coal used in gas man
ufacture 11:3 per cent: the average in
crease IN the price Of all varieties Of
coal used amounting to 34.3 per cent.
ne price OF gas oil increased 66.2 per
's' "-iN Le'o ttS04u luCIeGSeQ CnlS wear
80 per cent; the increase in the price
OF gas oil in 1913 over that Of 1916
amounting to 1865 per cent.
Costs Increase Nearly $4,000, GOO
Tho increase in the price Of these
Items. alone added s453O,6OO to the
cost during the year.1917,of manufact-
urlng gas and generating electricity.
lf is estimated that the additional cost
or producing and distributing gas and
. "' ?. due to the increase in the
price Of labor and materials, amounted
curing the year to approximately S4,-
Since the declaration Of war bv the
United States on Germany it has cost
the Consolidated Gas Company. Ny
Cortelyou pointed out, S597,690 more
I, fT ct The gas and electric plants.
While operating expenses of both pas
=; ectrlc companies increased So
Mr.. Cortelyou said the government
is now making active preparations TO
recover toluol from the gas manufact-
ured by the Consolidated Gas Com
pany.
New-York tribune., 1918-01-22
Fish Receipts
AT New England Ports

Inc hshing fleet landing fishery prod
ucts at Boston and Gloucester. Mass,
ana Portland. Me-, during the month Of
december. 1917. included ia steam and
san vessels. These vessels landed 8.
boston III trips, aggregatisg 5.7S4.S4o
POUNDS, valued at s349, GAS: at Glouces-
yer, 33s trips, aggregatinc 2,97o .3S2
pounds, valued at sl54.2o2; and at
Portland, 1913 trips. aggreeating e6s.-
eo2 pounds, valued at s442o3. The total
ior the three ports during the month
amounted to TOP trips. aggregating g.
37O,626 pounds of fresh and salt fish,
having value to the fishermen Of
$548.413. -''S'
New-York tribune., 1918-01-22
Dividends Declared

brler Hill Steel Co.-Reruar dividends of
per cent on the preferred and 6 per cen.
on o.. the common stocks have been declared for
tne me-, current mt year. both payable quarterly on
stock of record on the goth of the preceding
months. ~
!, NStIonal Biscuit Co.-Reyuar quarterly
dividend of l2. per cent on the common
sMsock; M payable April Is to stock OF record
ferred stock. payable Febrnarv "a 70 stock
OF record February l6. -
=. fuilman Co.-Re0ular quarterly dividend
os oe ner cent, payable February is 70 stock
New-York tribune., 1918-01-22
Moro Pennsylvania Stockholders

The number of stockholders of the
Pennsylvania Railroad, for the first
time in the history of the company, has
passed the 100000 mark, the exact num-
ber shown in the monthly statement
made public yesterday being 100,O3S.
Of these 49,492 are women The total
number of stockholders has increased
$3.50 last year, and the total number of
women stockholders 1856. The Penn
sylvania Railroad Company has out
standing 9,9S5,314 shares Of stock of
the par value Of $50 EACH All but 81
per cent is now owned in the United
States. The average number of shares
owned by each stockholder is 99.82.
New-York tribune., 1918-01-22
Many New Companies
Formed i'm Russia
Efforts Being Made to Sup
ply Country With Home
Products

A careful study Of the many new
enterprises founded recently in Rus
sia will show, according to Maddin
Moscow, that they have in view. first,
the supplying, after the war, of the
present exhausted markets, and, Sec
ondly, the building up Of local indus
try, and supplying the markets with
homemade products.
1T is argued" says Mr.. Summers,
"by many economists in Russia that
the financial situation created by the
war can be solved only by encouraging
local industries. The high rates of ex-
change and the unfavorable trade ball
ance that will continue for some years
after the war will necessitate the
in the country of many
articles previously imported.
The organization Of new industrial
stock companies and the increase in
the capitalization Of those already ex-
listing is greatly encouraged by the
continually increasing savings in the
banks, which amounted to 8,41O, 100000
rubles in April, 1917, as against
1851 100000 rubles in April, 1914. The
ci4cy Of the new regime has, more
over, removed many difficulties that
formerly existed, tending to limit the
of industrial enterprises.
IN June, 1917, 143 new companies
we're formed Or reorganized, involving
the investment of lO3,525,OOO rubles.
as against fifteen new companies in
June, 1916, and twenty-one in June,
lSlS. With respective capitalizations
Of S5,l5o,oo0 and 1S,5OO.0O0 rubles. In
august, 1917, there were organized
ninety.two new companies, with a CAPT
of 299 9,55o,ooO rubles, as
against forty-two new companies or
gani7ed in August. 1916, with cani-
of 59,570,0oo rubles. and
companies organized in Au-
rubes." '''0o'00o
The following table shows the num-
Der and capital of the companies or.
eamzed in the different industries dur
ing August, 1917:
1.,<,... No.of Capital
anueS eIles' companies Ruble.s.
New-York tribune., 1918-01-22
Martin Vogel Again
Nominated Assistant
u. S. Treasurer Here
Handles Eighteen Billions ol
Dollars Since Taking Charge
Of Sub-Treasury

Martin Vogcl was nominated yestcr-
day by President Wilson to be Treas
urcr Of the United States at New York
for the fourth consecutive time. Mr..
Vogel has charge of tho local Sub
Treasury and has handled approxi-
mately $4,000, 100000 since he took up
his duties three years ago. The period
Of his incumbency has been one Of the
most memorable in the history Of the
financial district.
New-York tribune., 1918-01-22
Current

The above rates express the cost of
foreign money in terms of the Ameri
can dollar. You buy an English pound
sterling at, say, $4.75Is. The intrinsic
parity is S4.S6as per pound. Thus, YOU
say either that pounds are at a dis
count or that dollars are at a premium,
whlch IS owing to the fact that in Eng
land the demand for dollars with wb;cb
to settle accounts in his country is
greater than the demand in this conn.
try Tor pounds with which to settle ac-
counts in England.
New-York tribune., 1918-01-22
Declared Exports From
France to United State.

The total declared exports from
France to the United States and pos
essions during 1917 were valued as fol-
lows: To United States, s93,45s224
against s110,240,031 in 1916: Ph;I;n'
pines. $944,073, against S573,337 :Porto
Rico, S141,110, against s146. .68e:
Hawaii, ST, ,149, against s9,24e.
New-York tribune., 1918-01-22

All the stage effects made for ex-
trcme pessimism In Wall Street yes
tcrday, but tho trading mind rose
above physical Inconvenience and
actually was just as cheerful as If
tho Fuel Administrator had not ban
ished heat and light and elevator
service and other comforts to which
the speculator is accustomed. Nat
urally, attendance was lighter than
usual, both on the floor Of the ex-
change and In brokerage houses,
and as result dealings were rela-
lively small In volume. The de-
mand for stocks was nevertheless
keen enough to cause q general
though not extensive rise in prices.
The action Of the market lacked
significance because dealings, as in
other recent sessions, were almost
wholly in the hands Of professional
traders, who were Influenced more
by technical conditions-in this in
stance an oversold market-than by,
broader developments in the eco
nomic situation.
New-York tribune., 1918-01-22
News Digest
Foreign

Russian Securities in London Weak.
LONDON, Jan. 2L-On the Stock
Exchange there was further weakness
or Russian securities and renewed ac-
tivity of Rhodesian mines. which were
absorbed readily. Shipping shares
maintained hrmness. Argentine rails
Paris Bourse.-PARTs, Jan. 21-
mere was little trading activity on the
bourse to-day. Rentes were quoted at
6S francs for cash; exchange on Lon
don, 27 francs 15ls centimes: ner
cent loan at SS francs 66 ceutimes.
New-York tribune., 1918-01-22
Names Removed From
Enemy Trading List

The War Trade Board annouroo.
that the following concerns have been
removed from the Enemy Trading List.
a. "a: Garcia & Co., Of Piura, Peru Daniel
New-York tribune., 1918-01-22
Chicago Utilities Company

The Chicago Utilities Company,
which owns the freight tunnel here. re-
ports deficit from its transportation
last year of $700,7o9, due to war condi-
tions, railroad congestion and high
operating costs.
New-York tribune., 1918-01-22
The Dollar in Foreign Exchange

French exchange displayed some
what easier tendency yesterday. The
rest OF the market was dull, with only
small amount of business doing.
Closlng rates yesterday, compared
with week ago, are given in the table
below. American bankers have sus
pended al! dealings in German and
AUSTRIAN exchange, so that daily quo
cations for either marks or xroncn are
no longer available.
New-York tribune., 1918-01-22
Elections

:. George f. Shaw has been elected
director of the Crucible Steel Com
:, Il. G. Lilly. former vice-president of
Ine merchants National Bank OF St.
iaul. mas succeeded D. S. Culver. re-
tion.
New-York tribune., 1918-01-22

eaid oeh entures VIII be redeemed at the
aforesaid price on presentation anG go
render thereof. with all unpaid coupons a..
rusrs 1asnse 1s1s 81 and at ths ac first dy ef FL
Turner Company. Sc Worth Street. Boronsb
or Manhattan. City of New York. sad
aeoenlures VIII cease to draw interest on
the first day Of February, 1919
j. SPENCER TURNER COMPANY
by Frederick w. Murphy. Secretary.
New-York tribune., 1918-01-22
Sugar Loan Plan Nearly Ready

Details OF the plan FOR a $100,O0O,O 900
loan to Cuba sugar growers by group
Of New York bankers will probably be
announced this week. All that re-
mains to be settled apparently is more
definite assurance from the Shipping
Board at Washington that enough
ships will be made available for carry
ing this years crop to the United
States and it's European allies. Ac-
cordlng to the latest Developments it
is likely that the Dutch vessels in the
Hudson River will be used for this
purpose. The International Sugar
Committee, which is cooperating with
the bankers in the financing plan, is
already receiving sugar from Cuba
pending the completion Of the loan
negotiations. For January and Feb
ruary approximately 100000 tons have
been contracted for, of which $50 600
tons will be sent to Europe The com
mlttee has control Of 100000 tons
OF the 1918 crop, with an option on the
remainder. 1t is generally understood
that the bankers will adopt the ac
ceptance method of making the loan.
which will be secured by warehouse
receipts against the sugar.
Californias Oil OUTPUT
An increase of 1880 barrels in the
daily Oil production of California dur
ing, December as compared with the
daily average for November, is reported
by the Standard Oil Company of Cali
lorna. The total output for December r
was 273,336 barrels. Total stocks of
crude oil in the state we're reduced an
proxlmately 1890 barrels during De
ccmber to 32.450,465 barrels. The stock
decrease is due to the disparity between
production and shipments, which were
2I8,276 barrels daily, considerable de-
cline as compared with November.
Fifty-tive new wells were completed
during the month, yielding an initial
daily production of $3.50 barrels. Total
shipments of oil from the California
fields during December we're 1926, ,571
barrels, as compared with 9,303. .663 bar
rcls in November. CALIFORNIA; total
production of crude oil in 1917 was st.
267 ,S32 barrels, an increase of 5,445,47
barrels over 1916. This production was
ll,585,725 barrels less than the market
requirements, as represented by ship :
ments. Total crude oil stocks as IF
December 81, 1917, amounted to 32.-
450.465 barrels, which compares with
44,036,190 barrels as of December 81,
1919 ~
New-York tribune., 1918-01-22

Below is given the current exchange
value of foreign money in dollars and
cents, together with the intrinsic cold
parity, as calculated by the United
States Mint:
New-York tribune., 1918-01-22
No.of Capital.
ompanies. Rubles.

IN addition, practically all the i'm.
Portant banks are said to be increas.
ing their capital. Profits during The
last three years have been very great
New-York tribune., 1918-01-22
Money and Credit

Call money ruled unchanged at 6 per
cent at the Stock Exchange yesterday,
with only small amount placed owing
to the restricted trading In the stock
market.
There was no change quoted in the
market for fixed date funds.
Ruling rates for money Yesterday
compared with year ago, were as fol
lows:
~, Yesterday. Year ago
Call money y.......... SO 39o
Time money (mixed collatcral):
Sixty days. 5949o 2Na@2s4%
Ninety days....... 5a40o 2s4po
Four months. 5s4qo 2sa@3%
Five to six months 5s49o 3oo
London Money Market.
Jan. 21.-Money was in fair supply at
3M per cent; discounts quiet; short
bills. 331-32 per cent; three month
bills. 1-32 per cent; gold premium
at Lisbon, ITO.
Commercial Paper-Rates remained
unchanged at 51a to ga per cent yes
terday for the best regular maturities.
omsial xatss Of discount Tor cash Of
New-York tribune., 1918-01-22

Railroad shares were not much
affected by Mr. McAdoo's statement
that the government desires to re-
tain control Of the carriers for sew
eral years after the war ends. It is
generally believed that the system
of operation which will be put into
effect during the period Of govern
ment operation cannot be continued
after the roads are returned to their
owners, for the reason that the Di-
rector may exercise broad
powers which cannot be bestowed
upon railroad executives, and also
because under government opera
tlon profit is matter of secondary
consideration, whereas it will again
be of prime Importance when pri-
vate control is reestablished. 1t is
also apparent that the old order of
wasteful competition in service will
never be resumed. Therefore, it
would probably be just as we'll for
the carriers to remain under Fed
eral control until a sound plan for
operation under private manage
ment could be worked out. Railroad
shareholders will have no cause for
complaint as long as adequate COM
pensation is guaranteed. Indeed.
they would almost certainly fare
better under such a guarantee than
they would if the guarantee were
suddenly withdrawn at the end of
the war, when there is grave danger
of serious industrial upset. Mr..
McAdoo's statement that he does
not favor government ownership is
reassuring, though the decision as to
whether or not the government
shall permanently take over the
transportation system will rest with
Congress and not with him. In
view of the exhibition of govern
ment inefficiency in the manage
ment of other branches of Industry
1t does not seem likely that Congress
Will care to make such venture
with the biggest industry of all.
A good many business men object
seriously to the Fuel Administrators
suggestion that those companies
which are forced to suspend opera.
tlons by reason of the order should
pay the wages of their EMPLOYEES
just as if fires had not been banked
The implication that those who do
not do so are unpatriotic is espe-
cially, and very properly, resented
DR.. Garfield apparently does not
realize that the difference between
running a plant five days a week.
instead of six, with overhead and
other expenses going on lust the
same as before, may easily be the
difference between a substantial
profit and bad loss. There is no
good reason why the fuel adminis-
tration should show more tender
ness for labor than for capital. nor
for the inference that the employe
Is any less willing to share the bur-
den than the employer. Many of
those concerns which can afford to
pay Idle labor will do so, but it is
unfair to the less fortunate ones to
suggest that they are unpatriotic be-
cause they cannot assume the full
burden imposed by Washington's
mistakes.
New-York tribune., 1918-01-22
Relevant Comment
Japanese Money Market

A Japanese banker who has lately
returned to this country after visit
to his native land likens the money
market situation there to q shallow
pond. The surface looks placid and
peaceful enough, he said, but any one
who tries to dip into it starts trouble
Immediately, owing to the lack Of
depth. The market, he said, grows
tight on the least provocation, even a
transaction involving the borrowing Of
100000 yen ($50,o00) causing tenn
porary stringency.
New-York tribune., 1918-01-22
Sub-Treasury.-New York banks lost
o the Sub-Treasury $6S5 900.

German Bank Statement.-BERLIN
(via London), Jan. 21.-The statement
Of the Imperial Bank of Germany is
sued January Is shows the following
changes Gin marks)
Total coin and bullion, inc. 2,224, 900
Gold, inc,. .................. 10000
Treasury notes, dec. 79,659, 900
Notes of other banks, dec... $4,000
Bills discounted, dec. ....... .352, 1884, 600
Advances, inc. nc............. 68,0oO
investments, inc............ 6,270,oo0
Other securities, dec. c.... 66,1s3, 900
Notes in circulation, dcc.. .299, 1873, 600
Deposits, dec. .231 .333, 900
Other liabilities, inc. ..... $685. 600
Total gold holdings. 2,4O5, $50, 900
New-York tribune., 1918-01-22

Bank Clearings.-Bank clearlngs at
New York yesterday were s419,523,1S1;
balances, $64,219,43O.
Sllver-Bars In London, 44Ad, Off
1ad; New York, $3.50, down 1c; Mcxl-
can dollars, 71%c, decrease Of &c.
Suh-Tree.urv- v-No,r vorl. hox,,
New-York tribune., 1918-01-22
}. SPENCER TURNER COMPANY
90 YEAR 6 PER GENT. ERANTI-prs

Notice is herby given that seventy-srs,
l78) six 90 per cent. debengures Of
Spencer Turner Company bearing ~.
following numbers have been drawn for rs
demption to be redeemed at par and ar.
New-York tribune., 1918-01-22

the twelve Federal districts arc as fol-
lows:
New-York tribune., 1918-01-22

omsiAl zAtss Of d..coua. 30. each Of
Bisbee daily review., 1918-04-02
LFVILLE DANG I ASSISTS SALE OF
 MANY WAR STAMPS.

Despite high winds and chilly weather several hundreds of persons gathered last night at the Warren Dis trict Country Club for the "WOlfeville Dance" a patriotic frontier celebration for the purpose of stimulating the sale of War Savings Stamps. SpuTred. chapped. sombreroed. rough of beard, bandana handkerchiefed. vaquerOs. with their cow-girls. stOrmed the club house. The WOlfville games and at fractions kept the entertainment at d pitch of hilarity until after the mid night hour.
 The punchers and their gals" gath cred at the behest of the following in vitation:
 "Wolfville Dance at Country Club, Monday Evening. April 1st Bring your gal and your roll Craps Drinks at Bar Chuck at Lunch Coun ter. (No ShOOtin' Irons AllOwedl. Gents wearin' billed shirts won't be mo- ways popular" The invitation was signed by Slippery Gene" Whiteley, Dead Shot" Buck, Diamond Dick" Ryan, "Set'em-up" Olsen. and Monte Frank" Wheeler, the entertainment committee.
 The games were well patronized throughout the evening. Sales of war stamps were numerous and the total sales for the night ran high. The air of pioneer days permeated the club rooms and the scene rounded out would make the heart of most old time prospectors of the district long for the palmy days of 49.
 Other organizations. clubs. fraterni- ties and assemblages of the district are planning similar feature entertain ments for the near future with an Ob- ject of stimulating the sale and pur- chase of war stamps and baby liberty bonds. It is probable the first of the subsequent entertainments will be an- nounced this week