davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1918-01-20
The Dollar In Foreign EXCHANGE

Strength of French exchange furn-
lshed one of the most interesting de-
velopments in the local market last
week, the rate advancing to 56SM
francs to the dollar for cable trans
fers, the highest point reached since
last April. Improvement in the posi-
tion Of franc exchange was attributed
mainly to the demand for remittances
incidental to the payment of the Amer
lean forces in France. At the same
time the supply of French exchange
being made has been greatly curtailed
by the credit advances made to the
French government by the United
States.
Most of the other foreign exchange
rates moved narrowly last week. Rus
sian rubles continued to display
steady tone around 13 cents, despite
fresh evidence of chaotic financial and
economic conditions now prevailing in
Russia.
An interesting situation has devel-
oped in New York Montreal exchange
As result of the heavy purchases
here Of steel and other materials for
the manufacture in Canada of war sup
plies for Great Britain combined with
the suspension of grain shipments,
Canadian banking balances at this cen
tre have fallen sharply, and the rate
for New York funds at Montreal has
lately been steadily advancing until it
now stands at premium of rs per
cent Unless the situation improves,
it is expected that gold shipments will
be made from Canada to New York to
adjust the exchange. Conferences Of
Canadian bankers are already being
held with view to placing the matter
before the Canadian Minister OF
Finance.
If you calculate the cost of the dollar
III terms of foreign money at par value
that is as if you were buying dollars
With pounds. marks or francs-its value
New-York tribune., 1918-01-20
American Ice Report

Total sales Of the American lee
Company for the fiscal year ended Oc-
tober 81, 1917, according to the an
nual report made public yesterday,
were S9,840,529, compared with $9,l 72,-
962, the preceding year. Net earnings
after expenses, taxes, etc, amounted
to 81 ,336,14f, towl,ich was added $174,-
403 of other income, bringing the
years total net up to S1,51O $50. an
increase Of $46G,1 1875.
Net income after interest and other
charges was s9S3,312, equivalent to
$6.5S a share on $l492O,200 preferred
stock, compared with $500 earned on
the same amount Of stock in the 1916
fiscal period.
New-York tribune., 1918-01-20
German Mark Falls
On Neutral Exchanges
Loss of Confidence in Peace
Negotiations Given as
Cause

LONDON, Jan. 19.-The value Of the
German mark has fallen sharply on
neutral exchanges in the last few days,
rejecting loss of confidence in neu-
trail countries regarding the outcome of
the peace negotiations at Brcst-Li-
tovsk and the present condition Of
internal affairs in Germany. In Berne
exchange on Berlin. which early this
month was 90, is now 1910. In Chris
tiania it has fallen within the week
from 6275 to COPS; at Stockholm, from
G050 to $3.50; at Copenhagen, from
0b.75 to 6250; at Amsterdam, from
47.55 on January to 4l.65 yesterday.
New-York tribune., 1918-01-20

The primary object Of the plan to
regulate security issues is economic
rather than purely financial. 1t is
probably designed more to restrict
non-essential industries than to in
sure essential industries of priority
IN the capital markets. Consequently
would not be surprising if the
FEDERAL Reserve Board should event.
ually extend the "moral" restric-
tl0ns to include bank credits. The
views of the board on the credit
question are therefore of interest.
The last issue of the Federal Reserve
Bulletin contains the following:
Nobody should draw upon the credit
resources Of the country except to
hnance transactions which are essen
tlal for q nation at war.
Credit should be saved as much as
goods.
Conservation of credit as regards
non-essental enterprises is neces-
sary in order to provide, without un-
due expansion, the credit required by
'he government and by business es-
sental to the success of the war
and the well being of the country.
The board most earnestly invites
serious consideration of these and
kindred steps in the development Of
programme of national economy
and bespeaks the cooperation of all
'he banks of the country in behalf
OF their adoption in their several
communities. The banks are urged
70 teach in their districts t. mean
ing and necessity of saving and its
ieiatlon to the successful financing
u the war; to tell the city merchant
ana the country storekeeper that this
- not the time to buy and stock up,
especially with luxuries. Let th~
people everywhere be encouraged to
'ohsume fever things and let those
pe the simple and substantial things
mat are necessary to health and
strength. Let the public realize that
~ Is more respectable in slch war
''mes as confront US to be seen in old
.'o'nes than in new ones. Let the
'anKs tell the people of their COM
"unIties and their authorities, the
mayors and governors, that this is
'S1 ice time for cities to be spend
New-York tribune., 1918-01-20
Relevant Comment
Rediscountable Sugar Paper" Proposed

Rediscountable Sugar Paper" Proposed
The plan under consideration by New
York bankers for financing the Cuban
sugar crop Of 1918 is said to provide
for the issuance of some form of short
term security, either six or nine
months, in such shape that it can be
purchased by banks and used for re-
discount purposes. What may happen
is that the International Sugar Com
mittee, of which Mr. Hoover is the
head, may buy the entire sugar crop,
paying the grower spot cash as he
delveis his sugar. Then by storing
the raws in Cuba they can be drawn
upon gradually for shipment north as
ocean tonnage is avail .aDip. 1t is as
sumed that the big refiners will be
buyers Of a possible issue of $3.50, ,OOQ,-
600 short term paper. Competitor OF
the plan is reported to hinge on the
assurance that enough ships will be
provided to move the Cuban sugar
crop.
New-York tribune., 1918-01-20

Ihc above rates express The cost Of
foreign money in terms of the Ameri-
can dollar. You buy an English pound
sterling at, say, s4.75lA. The intrinsic
parity IS S4.S6es per pound. Thus, you
say either that pounds are at a dis
count or that dollars arc at q 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 coun-
try for pounds with which to settle ac-
counts in England.
New-York tribune., 1918-01-20
Dividend Changes

American Navigation.-Th COMPANY 20
duced its quarterly dividend from per cent
to li2 per cent. The dividend will be paid
January - to stock of record January 3.
New-York tribune., 1918-01-20
Extra Dividends

American District Telegraph of New Ter
sey.--Ihe company has declared an extra
dividend Of / per cent. in addition to the
regular quarterly dividend of per cent. both
payable January 29 to stock of record jam
ary 3. ~
New-York tribune., 1918-01-20
Marine Shares Tumble

In sharp contrast to its recent trend,
international Mercantile Marine pre-
ferred turned rcactionary in ycstel-
days market and closed at S9l2, the
low price for the session and decline
OF "a points from Fridays last sale
Yesterdays weakness in the face of a
generally strong stock market provoked
some rather caustic comment in com
mission houses, in view of the recent
reports that important developments
in the compaily'. affairs are being CON
sidered by the board Of directors.
New-York tribune., 1918-01-20
Money and Credit


banks decreased s32,543 900 last week,
according to the weekly statement of
the Clearing House Association, issued
yesterday. Loans now stand at S4,O34,-
10000. Net demand deposits decreased
S1',5S0.000 to total of S3,66G, 763 900.
Aggregate reserves decreased $50
9S1 900 and totalled $556,S09 900 at the
close of the week. There was de-
crease of s1o,996,7s0 ins reserves in
excess of legal requirements. The
United States government increased
slightly its deposits at this centre. the
statement showing a total of $780,
100000 with the Clearing House banks.
compared with $126,24s 900 a week ago
The Clearing House statement fol-
lows:
Loans, discounts, invest
ments, etc.. s4,o34,9 81 900
Cash in vaults of Fed.
Res. members. rs........ 11o,o1o,ooo
Reserve in Fed. Res Bank o17, zoe, 900
Reserve in vaults of state
banks and trust cos.. 1886. GOO
Reserve in repositories 9,713.OO0
Net demand deposits. 3,666,7s2 600
Net time deposits. 198,73o,oOo
Circulation ............ 34,o70,OO0
Aggregate reserve . $50 sos. 900
Excess reserve ....-..... 67,676,23O
United States deposits deducted,
s139 ,9Se,0 900
The changes from week ago were:
Loans and DISCOUNTS -. Dec .$32, ,543 600
Cash in vaults of Fed
Res. members. ....... Dec. 7,280,OOO
Res. in Fed. Res. Bank Dec. 21,566 600
Res. in vaults of state
banks and trust cos. Dec. 532. 900
Res. in repositories. Inc. 1.117.OCo
Net demand deposits. Dec. 1850. .oco
Net time deposits. ......Inc. 1886, 600
Circulation ........... Dec $4,000
aggregate reserve ..... Dec. 20,95 900
Excess reserve ....... Dec. 1O,296,78O
Acceptance Rates.--Current bid prices
for prime acceptances are as follows;
Thirty Sixty Ninety
Spot delivery: days. days. days.
Eligible member
banks .... q % % q %
,'s,1, member banks ; 41s% 4A9s 414%
AlISil iUic UdHh
bills ......... s % 5 % S %
For delivery within thirty days:
, Eligible member banks. 4Lh o.
Eligible nonmember banks. 4aa o.
Ineligible bank bills. s %
Bank Clcarings.-The days clearings
at New York and other cities:
EXchanges. Balances
Boston. ........ 4O,866,208 1888, ,424
Philadelphia.... 6o,o3e,74o 1890 ,825
Sub Treasury. New York banks
gained from the ub-Treasury $4,000.
Silver.--Bars in London, 44%d un-
changed; New York, S97sc, an increase
of &c. Mexican dollars, 72hc, un
changed.
London Money Market - LONDON.
Jan. 19.-Moncy firmer at 31z per cent.
Discount rates-Short bills, 31-32 per
cent; three months bills. 41-32 per
cent Gold premium at Lisbon ITO 0O
New-York tribune., 1918-01-20
News Digest
Foreign

Paris Sourse Lifeless.-PARIS, Jan.
19.-The 9ourse was lifeless to-day.
Three per cent rentes. 59 francs for
cash. Exchange on London, 81 francs
Is e centimes. Five per cent loan, 50
francs SO centlmes.
New-York tribune., 1918-01-20

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., 1918-01-20
az the close of last week, as compared
WIN year ago, would be about as fol-

CTVS1Hg EN(IS lyesterday, compNred
with week ago, are given IN the table
below. American bankers have sus-
pended all dealings in German and
Austrian exchange, SO that daily quo
tatlons for either marks or kronen aro
no longer available.
(OuOt nd do11nru IN %I,A ,>o,rI\
New-York tribune., 1918-01-20

The stock market no longer has
harometric value. 1t is following
instead of anticipating economic
ocsnts. Active interest in the market
e confined almost wholly to profess
s;onal SPECTATORS, who are content
:, squeeze a living out of the daily
svrations and make no attempt to look
rery far ahead, since no one can for
sec the extraordinary developments
which are following one another in
ranid succession or even estimate
,be effects on prices after they have
taken place. 1t is Just as we'll for
all concerned that the market is mar
row and outside participation at a
minimum, for if the public should
take an active interest it could hard
~ be on the constructive side under
nresent circumstances. Only the fact
that the market had been over liqui-
dated prevented a serious break when
tte Garfield order was issued. 1t
was perhaps the most severe test the
market has had to face since the
United States entered the war, and
the shock was the greater because
such drastic action had not been an
tcipated, and the surprise was there
fore complete. Wall Street expected
trouble Hnen the market opened
Thursday morning, and it seemed for
time that its fears might be real
lied Professional traders hastened
to unload and to sell short and prices
opened considerably below the pre-
ceding days close. But the ava
lanche of selling which was expected
to come from investors failed to ma
terialize. The result was that the
market remained inactive, with
meaningless fluctuations. At the
close Saturday the average price of
fifteen representative railroad stocks
was a fraction above the average at
the close on Wednesday, while twelve
representative industrial issues were
up about half point
The Federal Reserve Board has
decided that, for the present at least,
regulation of new security issues is
to be on voluntary basis, as was
proposed by leading New York bank
e1s. 1t is to be hoped that moral
suasion will be quite as effective as
legal restriction, and probably it will
re, inasmuch as the plan has the
backing of the leading banking and
Investment interests of the country.
The only serious obstacle is the diff
Guilty of determining just what con-
stitutes a non-essential industry; but
the same difficulty would apply even
we're the restriction enforced instead
Of voluntary. Whenever there is any
doubt the question presumably will be
PUT up to the Reserve Board for a
decision. In any event the restric-
tons are not likely to be SO rigid as
those now in effect in England, for
the reason the banking and invest
ment position of this country is much
stronger than that of our ally. Out
OF new capital issues aggregating &c.
oe2,980,000 put out in England last
year only S34,528,000 was for indus
trial purposes, and most of this was
obtained for projects intimately con-
nected with war work. Normally
industrial borrowings in England
amount to something like a billion
dollars year.
New-York tribune., 1918-01-20
Federal Reserve. Banks

WASHINGTON. 19The decline of
by
night
New-York tribune., 1918-01-20
Whv Cars Are Crowded

Traffic statistics Of the Interborough
Rapid Transit Company show that So
G05678 tickets were used in subway
traffic last November, against $685.
364 for the corresponding month Of
1916. The ele sated system carried 29,-
o62,647 passengers, contrasted with
30,45S,0 for November 1916. On the
subway divisions the largest number
of passengers carried was on the lines
from Nincty-sixth Street to South
Ferry. The Broadway branch carried
4,484,757 people and the Lenox Avenue
branch 6,560,131 On the elevated lines
the route from Chatham Square to
135th Street was most extensively used
New-York tribune., 1918-01-20

A victory over German propaganda
Details of the British negotiations
with Argentina interests for the pur-
chase of grain are contained in the fol-
lowing Buenos Ayres dispatch to "Thc
London Times:
"The terms of the agreement which
has now been reached for the purchase
of 100000 tons of Argentine cereals
are eminently satisfactory to all con-
cerned. generous minimum price has
oeen agreed upon, with the object of
bcnefting producers, VINO, however, un-
fortunately became frightened at the
delay in the negotiations and have
largely transferred their produce re-
Gently to spectators.
"The outstanding feature of the
agreement is that the Allies in the
fourth year Of war obtain credit to the
extent of e40,000,o00 at per cent on
note Of hand alone-surely almost un-
rrecedented in the annals of interna-
tional finance. An important result of
the agreement Will be the regulation
Of the exchange rate with London,
decreased importations
and heavy selling of meat, hides ana
wool bills. COUPLED with the expecta-
on of grain bills offering-has reached
ID per cent above par, with every pros
pect Of mounting. Presuming that the
agreement is ratified, it is justitiable to
regard it as a mastery victory over
German influence and propaganda
New-York tribune., 1918-01-20
1917 Mining Dividends

American mining, metallurgical and
holding companies paid S242, 1853, ,5S8 IN
1917 to their stockholders in the form
C dividends, compared with S237 $685.
S93 in 1916, according to the compila-
ton Of "Thc Engineering and Mining
Journal" The largest total was dis
bursed by the Utah Copper Company,
amounting to s23 ,555. 900. The Anaconda
Copper Company paid sl9,815,00o IN
dividends to its stockholders, the New
Jersey Zinc Company S14, ,70o, 900, the
Kennecott Copper Corporation S15,SsT,-
coo, Phelps, Dodge e. Co. $14,40000o.
Calumet e. Hecla $500, 900, and Chino
Copper, sS,612,000.
Dividends paid by mines in Canada,
exico and other South and Central
American countries aggregated S22,-
477,657 last year, against $24, lS0S94 IN
1916. The Cerro De Pasco mines, of
Peru, led the group with disbursements
of $4,009, ,47U.
New-York tribune., 1918-01-20

ST. LOTUS, Rocky Mountain & Pacific
New-York tribune., 1918-01-20
Corporation Returns

lah SECURITIES COfpOratiO
Subsidiary COMPANIES
New-York tribune., 1918-01-20

London Money Market - LONDON.
Jan. 19.-Money firmer at 312 per cent.
Discount rates-Short bills, 8 31-32 per
cent; three months bills. a 1872 per
cent. Gold premium at Lisbon, 1000
The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1918-12-04
CHICAGO HOLSTERS
TO HONOR FIGHTERS

CHICAGO, H., Dec. 4-The first
fighting man of the American expedi-
tionary forces to place his foot on
French soil after the United States
declared war on Germany was Col.
Daniel E. Mccarthy of Vincennes,
Ind. The first American soldier to
give his life in France to help make
the world safe for democracy" was
Corporal James 3. Gresham OF Evans
vile. Ind The first shot from an
American gun fired in Europe in the
war was fired by Sergt. Arch Of South
Bend, Ind
And every day from that time until
II a. M, Nov. IL, Indiana's sons were
in the thickest Of the fight. 1t was
an Indianian mai. Gen. Omar Bundy)
who, refusing to retreat, sent word to
his commanding officer that the Stars
and Stripes never retreated and that
he was going to attack. His division
turned the tide of battle, which ultl-
mately ended in the surrender of Ger
many.
These are few of the things that
will be recalled at the big celebration
of the Indiana Society of Chicago to be
held at it's fourteenth annual dinner
Saturday evening, Dec. Z, in the gold
room of the Congress hotel. presided
over by Federal Judge Kenesaw M.
Lands, whose son, Reed Lands, is
an lace" in the American aero forces.
The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1918-12-04

lations and to print and distribute the
necessary forms before the returns
and taxes will be due. The enforce
ment of the law will necessary be i'm
perilled."
Mr.. McAdoo reviewed the financial
practices of the year, including the
floating of short term certificates of
Indebtedness in advance of every Lib
erty Loan to prevent the disturbing Of
the money market by the loans and to
obtain the money needed by the Treas
ury in advance of loan receipts. He
said the war savings movement had
resulted not only in gathering in 1884,
100000 for war purposes up to Novem-
Der l, but it had helped to teach the
American people thrift and economy.
Turning to the enormous task of
collecting S3.694 $4,000 in taxes dur
ing the last fiscal year, or more than
four times the record collection of
the year previous, the Secretary en-
phasized that this had been accom-
plished largely through the co-opera-
ton of business interests and individ-
ual tax payers.
The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1918-12-04
TELLS A SECRET
Manufacturer Of Famous Medicine
Tells ingredients, SO Public Can
Appreciate Pure, Reliable Medi-
cine.

Many people fear to take medicine
to check and abort colds, cure coughs,
catarrh, etc. This fear is groundless
with all the products of the Black
burn Products Co., Dayton, Ohio.
Not one contains opiates, narcotics or
harmful drugs. Mentho-Laxene. for
coughs, colds, catarrh and all distress
following a cold, is compounded of
Wild Cherry, Tolu, Cascara, Grinde-
liza, Menthoe Ammonium Chloride, and
alcohol sufficient to preserve and keep
in solution.
Every ingredient is in concentrated
form and the medicine is so strong
that only ten-drop doses are to be
taken in the raw state. But the
ideal way is to make into syrup by
emptying 21a OF. bottle of Mentho-
Laxene into a pint bottle, then fill the
bottle with granulated sugar syrup.
made by dissolving a pint of sugar
in half pint of boiling water. 1t is
said by thousands that this makes a
most effective home treatment for all
cold troubles. The manufacturer guar
antees it to please or money back.
Sold by all druggists.-Adv.
The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1918-12-04
Sheriff and Deputy Ride
Through Rain to Rescue
of Frightened Woman

Sheriff Carr and deputy Carl Wad-
man rode through the rain to two miles
and a half beyond Hagerstown last
night in response to an excited call
which came from woman over the
telephone They were unable to UNI
derstand what the call was about but
they started out to do the rescue act
without waiting for details.
After skidding in gravel and just
barely escaping a gravel pit several
feet deep the sheriff and his deputy
found a road which led to the house
from which the call was received
Developments showed that a wom
an in the house had been frightened
when she had been in the yard that
evening and had seen two men crawl
, ing out OF the straw stack.
A man and boy had called at the
house in the morning for something
to eat and had evidently crawled into
the straw stack and stayed all day.
The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1918-12-04
A WARTIME RECIPE
FOR GRAY HAIR

GRAY. streaked or faded hair can be
Immediately made black, brown or
light brown, whichever shade you de-
sire, by the use of the following rem
edy that you can make at home: .
Merely get small box OF Orlex
powder at any drug store. IT costs
very little and no extras to buy. Dis.
solve II in water and comb 1t through
the hair. Full directions for mixing
and use come in each box.
You need not hesitate to use Oriex,
as a $4,000 gold bond comes in each
box guaranteeing the user that Orlex
powder does not contain silver. lead,
zinc, sulphur, mercury, aniline, COAL
tar products or their derivatives.
II does not rub off. is not sticky or
summy and leaves the hair funny. II
viii make gray haired person look
twenty years younger.-Adv,
The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1918-12-04
Polk to Be Arraigned on
Murder Charge Monday

James Polk, murderer of George Bun
ger. will probably be arraigned in
court Monday morning. The trial OF
Walter Thornburg has been set for
Monday, and this may interfere.
The relatives of Polk are expected
to arrive in Richmond late this eve
ming or tomorrow from Clarksville.
Tenn. His sister, Mrs. Griffin, from
Gary, Ind, is in Richmond now She
SAYS that the family is at a loss 10
know what prompted Polk to commit
the crime He has never before been
in any sort of trouble, she says.
The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1918-12-04
SERVICE BUREAU
WANTS BED LINEN

Bed linen is especially needed by
the Social Service bureau to loan to
families in case Of sickness, and per-
sons who are donating In the drive
which is being made by the bureau for
clothing. bedding and shoes. are ask
ed to give one piece at least, il pos
sible, toward linen closet for the
bureau.
Donations will be collected We'd
nesday and Thursday by persons in
cars and anyone who has any articles
of clothing. any bedding or any shoes
is asked to call the Social Service
bureau and the article will be collect
ed at the house.
The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1918-12-04
Discuss Wage Adjustment
for Steamer Employees

WASHINGTON. Dec. 4.-Goyern-
ment officials, steamship interests and
organizations of deck and engineer
officers conferred here today with the
National adjustment commission for
the purpose OF adjusting wages of mas
tiers, mates and engineers employed on
ocean going vessels.
Abolition of the war bonus system
for officers Of ocean going shipping
was one of the principal matters con-
sidered. REIMBURSEMENT OF wages and
a Redistribution of vessels also Is
sought by the ships officers