davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1918-11-07
Peace Treaty Will
Break the Teuton
Potash MONOPOLY
American Agricultural Chem
ical Co. Announces Increase
in Junior Stock

Robert S. Bradley, chairman of the
board of the American Agricultural
Chemical Company, in u circular to
stockholders of the company, made
public yesterday, declares that after
the war heavy European demand for
phosphate rock is expected.
After the war;" the statement says.
Eve anticipate heavy European de-
mand for phosphate rock, the export of
which during the war has been rem
dered almost prohibitive by the scarci-
ty of ships. Your company will be in
position to supply this export de-
mand from it's extensive mines in Flor
ida.
GAS phosphoric acid is far more i'm
portant to the production of crops than
potash. Germany will be only too glad
to exchange her potash for our phos-
pilates after the war, as she did before
The German monopoly of potash, more
over. would be broken should Alsace
again become French territory. for
some Of the largest deposits of potash
in the world are located in Alsace.
THE enormous demand for all farm
products throughout the world has nat
urally had stimulating effect upon
the fertilizer industry and has led to
a greater use Of fertilizers, not only
because they produce greater crops of
better quality, but also because they
conserve labor by increasing the yield
per acre. This situation is likely to
continue long after the war ends, as
our farmers are becoming educated to
the advantages of more scientific and
economical agriculture.
The United States has hardly begun
to practice intensive farming compared
with that pursued in European coun-
tries. Germany, for example, used be-
tore the war as much fertilizer on her
o2,OOO,coo acres of tillable land as the
United States used on her $4,000, 900
acres. Thus Germany was enabled to
produce ten-year average of nearly
thirty-one bushels of wheat per acre
against an average of fifteen bushels
IN the United States for the same
perlod. Her average yield of potatoes
Tor similar period was 204 bushels
TO the acre against an average of but
ninety-six bushels in this country"
The executive committee of the
American Agricultural Company has
voted to issue about s9,5O0.OO0 new
common stock, or about one-fifth of
the amount of common and preferred
outstanding. The new stock will be
offered at par OH pro rata basis, to
all shareholders, at the close of busi-
ness on November IA, to be good until
November 90
Each stockholder will be entitled to
subscribe to one share of new common
stock for each five shares Of his COM
blned holdings of common and pre-
ferred. The proceeds from the new
issue is to be used to retire the COM
pany's floating debt
New-York tribune., 1918-11-07
Com mmodities
In d u strial S
Cotton

A further advance of between Sc and
81 bale took place III the cotton mar
ket yesterday on continued covering
or 130 points above the closing price Of
Monday and $50 points above the low
level of last Saturday morning. That
position closed at 1920, with the gen.
eral list closing STEADY at a net I'D
vance of SIS to 100 points.
There appeared to be no fresh factor
connected with the upward movemen.
which started toward the end Of las,
week. Perhaps the nervousness oi
shorts was increased by the denial Of
the Committee on Cotton Distribution
that government orders for goods were
being cancelled and the easier tone in
the market for marine war risks Che
demand, however, WIS attributed
chiefly to covering, and it was the most
general belief that it was due 10 a
strong technical position and the fail!
ure of Southern spot holders to follow
the recent decline in futures. Much Of
the selling toward the end Of last
month represented a speculative vev
of peace prospects as a market factor
which was evidently not shared by
Southern spot holders. Contracts wen
sold far below parity with spot prices
and a large short interest accumus.
ted, which evidently became frightened
over the continued firmness of The
Southern markets. Increased offer
ings were encountered on the advance
of yesterday afternoon, and the clox
was several points off from the best
but it is thought that the rapid reccr.
cry in futures has added to the cors.
dence of Southern holders, and i
South bought more than it sold aroai
the ring here yesterday.
The range of prices follows:
YESTERDAYS Mon Ytr
New-York tribune., 1918-11-07
$4,000, 900 in Silver
Shipped to India

A train of twenty-five large trucks
was loaded with silver bars yesterday
at the United States Assay Office. 1t
took five hours to pack S3,000000 of
silver which was to be shipped via the
Pacific Ocean to the Secretary of State
of India at Calcutta, as part of the
arrangement with Great Britain by
which $500, 100000 of silver will be
dispatched to the Eastern empire.
where the natives refuse to take Brit
ish paper money.
Since Congress authorized the ship
ment last April, the New York Assay
Office has dispatched $4,000, 900 worth
of the metal, and shipments from the
mints at San Francisco and Philadel-
phia, it is estimated, bring the total
up to $100,000,O00. Yesterdays ship
ment was the largest made thus far
from the New York office.
In this shipment were 2,502 1000
ounce bars. The supply for this ar
rangement came from the melting
down of silver dollars chiefly, in ac-
cordance with the recent amendment
to the Federal Reserve act which au-
thorized the issuance of reserve notes
in one and two dollar denominations
Approximately $4,0O0,00O worth of
silver dollars have already been melted
down in this city.
New-York tribune., 1918-11-07
Says Allies Cancel
Barbed Wire Orders

In view of the possibility of an early
peace the iron and steel industries
are now focusing their attention on
readJustment problems and on how far
the war demand will fall off. "The
iron Age in its review of the week
calls special attention to the moves
made toward the reduction of mu-
milton orders and revision of other
war contracts.
while the project for the Neville
Island gun plant has not been aban-
doned,' says this publication, ga re-
vision of the plans is under way, re-
duclng considerably the scale of opera
t'ons. 1T is quite certain also that
work Will not go forward on the 12-
men nowltzer shop, which was to have
been built at the Midvale works ot
Nicetown.
I'm barbed wire q virtual cancella-
ton of $4,000 tons for Great Britain
and $4,000 tons for Italy is reported
France was to receive $4,000 tons in
the first half of 1919, and both this
ana 3O,OoO-ton contract for wire rods
Tor France have now been held up.
Steel works and rolling mills may be
nearer the end of their work for she'll
steel than is commonly thought, even
though the war. may go on for some
NH ..H''"S' SonsloeraDle smell steel is
still on the books for the Allies. and
the first cancellations are likely to
come on these contracts rather than
on those of the United States govern
ment The wire trade may be the first
to develop peace activity"
In the opinion of "The Iron Trade
Review the fact that virtually eyerv
ton of iron and steel now being pro.
duced continues to be demanded for
war purposes is steadying influence.
1t is also pointed out that the belief
has been strengthened that present
governmental regulation will be ex
conditions after peace has been de-
clnred ~"
New-York tribune., 1918-11-07
Third of New Taxes
Due on March Is
Treasury Appeals for Liberal
Buying of Anticipatory
Certificates

The Federal Reserve Bank last night
by circular letters urged every bank
IN this district to buy literally of the
new Ak per cent certificates of in
debtedness, which will be received in
payment of the new taxes. Its state
ment in part follows:
"The Treasury Department has an
nounced the issue of Az per cent
Treasury certificates of indebtedness
Series I, dated November z, 1918.
and due March Is, 1919. Subscrip-
tions are subject to allotment and
the amount which will be allotted has
not yet been made public. The in
tention OF this issue. however, is to
make advance preparation for the ex-
tremely heavy TAX payments called for
by the pending revenue legislation.
1T is contemplated in the revenue
bill that one-thlrd of the income and
excess profits taxes ESTIMATED at So
5O0,000,000), will have to be paid on
March is, 1919.
"Certlticates of indebtedness issued
IN anticipation of tax payments and
bearing per cent interest are now
outstanding. These 4 per cent GER
tlticcates are convertible into the new
series of Az per cent certificates and
VIII be accepted at par in payment,
with adjustment of accrued interest.
Any of the AZ per cent certificates Of
Indebtedness hitherto issued and not
called for redemption will also be ac-
cepted.
The banks purchased freely the vari-
Gus offerings of the Az per cent GER
tifcates issued in anticipation Of the
fourh Liberty Loan, and this issue Of
II per cent certificates, which will be
received in payment of taxes. will nm
doubtedly meet with an equally good
response. "NN
The idea underlying this issue is
not that the banks should increase
their borrowings TO subscribe to these
certificates, but that they should make
gradual preparation in advan ,e for the
heavy tax payments which arc sure to
go through the banks in March. To
the extent that the banks can resell
these certificates to customers having
large taxes to pay, they will relieve the
stress and strain incident 10 SO large
. financial operation"
New-York tribune., 1918-11-07
Oil Reports
Gain in Earnings

The Sinclair Oil & Refining Com
pany for the quarter ended September
so last yesterday reported net earn
ings from operations of $4,761, ,7O9,
compared with s4,407,661 for the June
quarter and S1,9S5,440 for the March
quarter. The amount set aside for
Federal taxes in anticipation of the
proposed increases under the new rev.
enue bill. was almost doubled, SO that
after taxes and other fixed charges
and after setting aside $1,O64,3s9 as
a reserve for depreciation and deple-
tions the balance carried to surplus
was $2,418,542, compared with $2,487,-
649 in the June quarter and with $751;
268 in the March quarter.
New-York tribune., 1918-11-07
The Dollar in Foreign Exchange

H. inc foreign exchange market yester-
aay "a made further efforts to catch un
WIN the great events, military and
p1lltical, of the war, that have taken
pace with cumulative effect. Demand
81 otferaing ra. was strong. and the tendency
exchanges were easy in tone. with tbe
exception Of Swiss francs. pesetas
made new low record for the move
ment, and scandinavian rates we're ;r-
regular The movement OF rates on
neutral countries in favor of New Work
mas been following a similar movement.
W. ~ 'oe london foreign exchange mar
IN neural exchanges was-and in ~
present lesser degree still is-a refiaS s
OF C the decline of the pound sterling.
Cioslng rates yesterday, compared
with week ago, follow: pa 'u
(Quoted dollars to the pound.)
New-York tribune., 1918-11-07
Money and Credit
Rates on call money hecame frmer

Rates on call money became firmer
yesterday afternoon, although the bulk
of the days arrangements were COM
pleted at the rate prevailing Monday
Reports that government Withdrawals
would soon relieve the banks of much
Of the money deposited in payment Of
the first instalment were believed by
some observers to have moved the rate
from 5ls to 6 per cent on call loans
secured by mixed collateral, but the
representatives Of the leading banks
stated that no large withdrawals had
yet been made.
Moderate amounts Of new thirtv-day
time money were put out by the banks.
Bankers indicated their belief that the
money situation WAS not likely TO
change fundamentally in the next few
New-York tribune., 1918-11-07
October Mining Dividends

Dividends disbursed in October by
twentys-nine mining and nctallurgica
companies in the United States, accord
ing to "The Engineering ana Mining
Journal" amounted to S5,658,5s4, COM
pared with $9,778,910 paid by forty
eight companies in the corresponding
month a year ago. Holding companies
paid S348,139 last month, contrasted
with s348,13 in October, 1917. Canadian,
Mexican and Central American COM
panies distributed $1,131,95O, against
s1,2s7, 1877 a year ago. The total fo. the
first ten months of the current year
are: Mining and metallurgical COM
panies, S135,187; 1921 holding com
panies, $1,728,438; Canadian, Central
American, South American and Mexi-
can mines, $19,6t8,740.
New-York tribune., 1918-11-07
Midvale Earns $3.50 Ia Share

The Midvale Steel g. Ordnance Com
pany yesterday reported for the quar-
ter ended September 80 net profits,
after charges and war taxes, Of ST.
1893 SGT. equivalent to $3.50 share on
the 100000 shares Of capital stock.
In the preceding quarter y4.27 share
was earned and in the quarter ended
September 80, 1917. the surplus was
equal to $4.02 share.
For the nine months ended Septcm-
Der 80 the surplus after charges and
war taxes was s24,f39,4l1. equivalent
10 $l2.0g share on the capital stock
compared with $IfG7 share earned
in the corresponding pwiod Of 1917.
New-York tribune., 1918-11-07
Wealth Markets and Commerce
Relevant Comment
Marine Plan Promised To-day

The announcement by P. A. S. Frank
lin, president of the International Mer..
camille Marine Company, that details of
the plan by which British syndicate
will take over the English subsidiaries
will be presented to the directors this
afternoon by Harold A. Sanderson.
chairman of the board, was followed
by rush of buying orders in the
preferred stock yesterday, which car
ried the price in the first few minutes
Of trading up to 125la with of
the record price made in 1916 What
was termed good selling appeared at
this level. according to commission
house gossip, and the quotation
dropped back to below 1913, with the
last sale at that price, a net gain
of q
New-York tribune., 1918-11-07

The Federal Reserve Bank Of New
York has put in force the following
schedule of redlscount rates which an
ply to bankers acceptances: Maturities
up to Is days, per cent; Is to GO
days, inc usive, Az per cent; CT to 90
days, Inclusive, 41z per cent,
Bank Clearings.-Bank clearings ves-
terday in New York and other cities
Exchanges. Balances.
New York ..ss75, ,5oe,177 $12o,314,47o
Boston .:..... 51,041,414 1886, ,14f
Philadelphia. 77,378647 is, ,120.335
Sub-Treasury.-Thc banks gained
$iSS'ooo from the Sub-Treasury yester-
day.
\, silyer.--London, 491sd, Unchanged;
New YORK, 101 lsc, unchanged; Mexican
dollars, 77iac, unchanged,
London Money Market.-LONDON.
NoV. 6.Money was firm at 3A per
cent. Discount rates were: Short and
three months bills, 3ss per cent. Gold
premium at Lisbon was at 100.
New-York tribune., 1918-11-07
Fourth Liberty Bonds Unchanged

cent Liberty bonds into Az S ends on
November 9, the Federal Reserve
Bank yesterday reminded bondholders.
Fourth Liberty bonds in the second day
of their appearance in the open market
yesterday again sold at 9S, the price at
which all sales thus far have been
transacted. The days business in the
new issue amounted to S3,607 900.
Other Liberty bonds were firm. and for
egn government issues were also in
good demand, with the Anglo-French
IS leading the way.
New-York tribune., 1918-11-07
Ingot Production Down

dropped to 97.4 per cent of capacity,
according to figures made public yes
terday by Elbert II. Gary, chairman of
the finance committee. In the week
preceding the output was nearly SO
per cent of the maximum. Blast fur
mace production also showed a slight
falling off, being 93.7 per cent, con-
trasted with 94.3 per cent the week
before.
New-York tribune., 1918-11-07
About Money

Wall Street folk yesterday wondered
whether the new Stock Exchange COM
mittee of Five appointed Monday to
consider the money situation in rela-
zion to Stock Exchange loans and to
confer with the money committee would
succeed in bringing about any i'm
portant changes. On the return of
Benjamin Strong, chairman, from d
vacation, the money committee met at
the Federal Reserve Bank, and its
members described the meeting as "rou-
tine" 1t was reported that the bankers
and the new committee of five will
hold conference to-day, but no Off
cial confirmation was to be obtained.
The new committee of Stock Exchange
members and partners met yesterday
and planned their method of approach.
The so-calied inequities resulting from
the order to brokers to reduce their
loans to the level Of September 16 o.
Date that has been criticised IS arbi-
trary, were inquired into and will prob
ably be restated to the money commit
fon
New-York tribune., 1918-11-07

The local market for spot cotton vs
steady and 90 points higher at 3lS9
for middling upland, compared viii
1910 on Monday and 29O0 the yea
before. There were no sales in spot
Southern spot markets follow:
Galveston steady, rs points higher St
31.5O; sales, 643 bales. New Orleans
firm, e8 points higher at 30.3s; sales
1886 bales. Savannah steady, so points
lower at $3.50; sales, 445 bales. Nor
folk steady, 125 points higher at 2S2S;
sales, 794 bales. Augusta STEADY, u
points higher at 29.44 sales, 500 bales
Memphis steady, 50 points higher q
$3.50; sales, 4,200 bales. Houssr
steady, 100 points higher at 3lA
sales, 3,786 bales. Little Rock QUIZ.
90 points higher at 30; sales, i@
bales.
New-York tribune., 1918-11-07
Yesterdays cotton statistics follow:

Liverpool Cables--Spot cotton, quIs'i
middling, 80 points higher at 2i.in
and good middling, 81 points higher
20.74d, as compared with Mondsys
close. Sales 1000 bales, all America
Imports nil. Futures opened quiet bot
steady, at ] to s points decline frss
Tuesday. Closed irregular and u,
settled, at an advance Of % to y
points. as compared with MondsT'
closing price. November, 2l.2o: W
cember, 20.49; January, 1881; FsbF
ary. 1910; March, 1929. Manchester
Yarns, dull; cloths, quiet and ul'
changed.
New-York tribune., 1918-11-07
> u s t e n a n ce
Cereals

Wheat.-Reports from Washins'o'
that America and the Allied gose.I
ments are working on a cooperssn..
plan 10 feed Europe after the war W
believed to mean that America VIII q. =
called upon to furnish the bulk Of y,
foodstuffs required. Of course, ~.
the coming Of peace some OF tae ~ -,
kets which have been excluded 'lsi
the worlds trade during the wal ~
again be cpen. but in view Of =
shorter haul from America it is tncuss
that the American markets VIII '. ~.
the best position 10 supply reap''
ments quickly. Is,
1t was said, however, that INC ~
Of moving Australian wheat tn'sss NJ,
the Suez Canal and the Nedite,'s'ss,,, n.s,,
Sea was being considered ano q. NJ III
believe that Argentina and lna's 90.
contribute to the European As, s.
Latest advices from Southeastern IL
rope indicate crop failure J. i.;,,lf
Balkan States, and it seems ehak
probable that supplies will nave n
furnished TO those countries. lid
port from Russia indicated oseW
crop in the Ukraine OF s,ra
bushels. This compares with ss nsp
yield of 47,50O.oO0 and, accora'I;;
Broomhall, should leave theUasS hwsoaS
surplus of 55,50o.00o bushels. snnstss ia
il is said that it is very uniiken rsss
this amount will be obtained ~ sss
ants are not willing sellers anu
ns use for paper money.
Corn.-The corn market eApst pa.t ID
a sAarp advance, closing at apsf ~
top of the day. with net gains sttly \
TO 7%c. The market was MO-
an oversold condition, and wnsn q ID
weight buying appeared cary -.s'
Continued ON neixt raf
New-York tribune., 1918-11-07

me above rates express The cost Of
foreign money in terms of the Amer
lean dollar. You buy an English pound
sterling at, say, s4.7545. The intrinsic
parity Is S4.S6M per pound. Thus you
say either that pounds are at dis
count or tnat dollars arc at premium,
which is owing to the fact that in En~,
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., 1918-11-07
Finance Economics
Telephone
Hanover 6S14

weeks regardless of the trend OF events
of the war.
Ruling rates for money yesterday,
compared with a year ago. were as
follows:
Yesterday. Year ago.
Per cent. Per cent
Call money:
On mixed collateral 5La 4
On industrial cl'tl
Time money (mixed collateraN:
Sixty days ......... s 5M@5N
Ninety days. 6 5M65h
Four months ....6 6 5Il@5aI
Five to six months. 6 5Il653h
Commercial Paper.-Discounting is
going on moderately at per cent for
all maturities. The local demand is
small. with country banks the principal
buyers.
Bank Acceptances.-1he bank accept
ance market yesterday was without
feature, with rates unchanged. "
Thirty Sixty Ninety
Spot de- days. days. days.
livery: Per cent.Per cent. Per cent
Eligible
m II, Der
=. banks. .4M@4Ia 4as@4I4 4sk@4A
Z ligib bic
nonmen-
Der ks.4ss@4l4 4Is@4h 4L2@47s
Ineligible 20
bank bills.5Ia@s 5Ia@5 5H@5
For delivery within thirty days:
Per cent.
Eligible member banks. ......... 4L2
Eligible non-member banks, ... 45a
Ineligible bank bills.
Discount Rates.-Thc following table
gives the current rates of the twelve
federa! reserve banks on commercial
paper for all periods up to ninety davs:
New-York tribune., 1918-11-07

Discount Rates.-Thc 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., 1918-11-07

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., 1918-11-07

Continued on nert
The Kadoka press and Kadoka reporter. [volume] (Kadoka, S.D.) 1910-1923, 1918-01-11
Notice of MORTGAGE Sale.

Default has been made in the pay
ment OF the principal aud interest ON
the money secured by mortgag .
Iarcd ID" >srh. day of Nu,a. t14l..
executed rv V + lir..trau luul ,
mohEagur 20 Clay -. Girrata of
Lake Arde- South Dakota. mortgq
gee, and thnreh. the whole OF tho
money secured by -4.d mortgage has
become due aud payabie.
sad mortgage is recorded in the or
lice OF Register OF Deeds, jackson
county, South D1kota, in Book 81, ol
page 1873 on the 22nd day OF Septem-
Der 1914, at O'Clock a m. aud said
mortgage was assigned bv the mort
gagee, Clay II. Gireath, Lake Andes,
south Dakota to John Mcchaceil Of
6eddeS, South Dakota on the lO.h
1ay ot March, 1919, which assign
ment was duly recorded in the Office
nt the Register OF Deeds, of Jackson
county, South Dakota, on the 18th
day OF February, 1917 in Book of
Mortgages on page 90.
No action or proceeding at law or
Otherwise have been had to recover
che amount secured by said mortgage,
and the amount claimed To be- due On
said mortgage at this date ia One
Thousand Two Hundred Thirty-eight
Dollars 81 ,23sp,
Therefore, notice is hereby given
that by virtue of the power Ot sale
contained therein, sand mortgage will
be- foreclOsed by sale OF the mort
gagged premises herein desert ed, to-
wit:
The Northeast Quarter (NE14) of
Section Seventeen IN, in Township
One (l, south, of Range twenty. four
(2i) East of the B. II. NJ. containing
100 acres, more or less according to
the government survey thereof in
Jackson county, South Dakota, at
public auction TO the highest bidGer,
at the front door OF ihe Courthouse,
in the city of Kadoka, Jackson coun-
ty, South Dakota on the 18th, day OF
February 1918, at O'Clock p. m.
John Macha"ek,
Assignee Of Morj gage.
F.. B. Hughes, Sheriff of 27-33
Jackson County South Dakota.