davidaulloa/AmericanStories huggingface dataset:
Monroe City Democrat. (Monroe City, Mo.) 1888-1919, 1918-07-05

Stars and Stripes and the flag of
Great Britain interwined in bond
OF friendship, the United States al
lied with her old mother country in
fighting the world battles of democ
racy. In that memorable docu-
ment which was proclaimed to
the inhabitants of the original
thirteen colonies 142 years ago is a
sentence which seems fitting now
as an indictment of the European
monarch against whom America is
at war. 1t is this:
Our repeated petitions have been
answered only by repeated injury.
And then follows this severe ar
raignment of George III, the last of
the English kings who maintained
the divine right of rule:
A prince whose character is thus
marked by every act which may
define a tyrant is unfit to be the
ruler of a free people.
Prior to the Revolutionary strug
ole the sentiment 10 all colonies
for ten years and more from the
time of the first Stamp Act troubles
was strongly against a severance of
relations with the parent country
Paul Revere's ride and the battles
of Lexington and Concord in April,
1775, memorable as those events
are the forerunners of the great
conflict, failed to arouse any wide.
spread enthusiasm for independence
Ii is even significant to note that
just year before the Declaration of
Independence was UNANIMOUSLY ap.
proved by all of the thirteen colo.
nies the Continental congress that
had appointed Washington COM
mander in chief of the army, drew
up. July 6. ITS, a declaration of
the causes for taking up arms III
which it was said:
Ne mean not to dissolve that un
ion which was so long and so hap
PLY subsisted between us and
which we sincerely wish to see
restored.
Even Thomas Jefferson. the
author of the Declaration of Inde-
pendence, two months after the
battle of Bunker Hill wrote that he
was looking with fondness toward
reconciliation with Great Britain"
A few far. sighted leaders like
Benjamin Franklin, Samuel and
John Adams and Patrick Henry
had felt at comparatively early
date that a break was inevitable.
The historic declaration of the
citizens of Mecklenbure county,
North Carolina, in May. ITS, was
one of several local events indicat
ing that public opinion was tending
toward Independence. but not until
the appearance of Thomas Paine's
stirring pamphlet, Common Sense"
early in January. 1776. was there
any appreciable public sentiment in
its favor. 10 the plain language of
the day it presented the facts so
simply that all could understand.
This phenomenon" as John Adams
styled Paine, suddenly found him
self transformed from Obscurity to
fame. The Pennsylvania legisla-
ture voted him $2,5OO. and a South
ern legislator suggested that a
statue of Paine in gold would not be
too high an honor.
Things moved rapidly in the col.
Onies after that, and Richard Henry
Lee of Virginia rose in the Cont
mental congress at Philadelphia,
June 7, 1776. and presented his
famous resolutions which led to the
Declaration of Independence. The
InRsOlutions. in Lees handwriting,
a
Monroe City Democrat. (Monroe City, Mo.) 1888-1919, 1918-07-05

ClNCE first sres stood beside the strsam
~ And fired the shot that echoed round the world
Has come to pass the epoch of their dream
When to the April breeze their flag unfurled
TODAY, where floats Stars and Stripes, we deem
L Each star defiance at the tyrant hurled;
Each stripe bar gainst despots too would seem
To interpose for human rights mperiled
TODAY, in foreign lands the flag is flung
L Against crimson sky across the sea-
Where battles bane from out the land has wrung
Its dreadful toll. 1t promises to free
Each nation, and to number each among
All peoples in world wide liberty.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-04-06
Great Discount:
Bank Planned by
Financial Leaders
Several Large Institutions
May Join in Move to
Promote Trade

Plans are being laid by the most
powerful banking group in the United
States for the formation of great
American discount bank, the principal
object of which will be the fostering
and development of foreign trade after
the war. The bank, when organized,
will have the backing of the Guaranty
Trust Company, the National City
Bank, the First National Bank, the
Chase National Bank, the Bankers
Trust Company and other allied insti-
tutions. j. P. Morgan & Co., it is
understood. are favorably disposed to
the formation of the bank
The detailed organization of the pro-
posed discount bank, which is expected
to operate along the lines of similar
institutions in England and France, has
not yet been definitely worked out.
The bankers interested in the project
are scheduled to meet next week, when
the whole matter will be carefully gone
over. Plans under consideration are
said to involve the formation of a
banking company with a capitalization
of between 100000 and $1O,OOO,OO0,
although the exact figure has not yet
been decided upon.
Stock in the projected bank will be
held jointly by The various banks in
terested in its formation and future
n 1f
expected that the proposed bank will
develop broad discount market in the
United States.
international bankers declared yes
terday that the future Of discounts in
THIS country is exceedingly bright 1t
IS recognized on all sides that, whereas
the discount business previous to the
war was almost completely controlled
by the English, there is now an oppor-
tunlty for the development OF big
business here. The main function
OF the bank as outlined in its tentative
form will be the purchase and sale of
bank and trade acceptances. 1t is also
stated that eventually the bank will
enter the foreign exchange field on
broad scale
The organization and operation of
discount banks form more or less of a
ny" ucpdI tuIc III lnc American bank
ing field. The first step in this direc-
ton was taken only week ago, when
the Foreign Trade Banking Corpora
ton was organized by George A. Gas
ton, of CASTOR. Williams e. Wigmore.
with capital of 100000. This in
stitution will be actively operated by
Max May, formerly head of the foreign
exchange department of the Guaranty
Trust Company.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-04-06
Govt Needs Curtail
Civilian Supplies
Greatly Intensified Activity Is
Reported in All
Industries

The most striking factor in trade
activity is the progressively increasing
tendency of the government to domi-
nate the markets, according to BRAD
streets review Of the week. And as
q result of this trend lareer con-
trolling influence or the part of the
government oyer buying is seen.
"Concededly, civilian requirements
are large" the review says, "but with
the government constantly urging
speed IN various directions, production
Tor ordinary purposes proceeds under
restrictions or licenses, limiting sup
pies Tor CIVILIAN uses, and owing to the
paucity of the materials jobbing trade
IN staples is marked by considerable in
terdealing
Good trade, activity in essential in
oustrles, increased outputs, improved
transportation facilities, less unrest in
labor circles, favorable crop news. some
further ease IN foodstutls, the drive to
make the Liberty Loan successful, the
rush to pay income taxes and the ready
adoption of the daylight saving plan
are leading features of the week"
In its summary of business condi-.
tions "Dun's Review" says: "The coun-
try enters on its second year of war
with many extraordinary economic
changes effected and with further i'm
portant adjustments pending, the ulti-
mate results Of which cannot now
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-04-06

Ne clearly determined. While bust
rcss is still Inconvenience by
the various restrictions and resu-
!ations Of the period end though
the future is uncertain there is
70 conspicuous unsottlement in any
quarter and the commercial mortality
remains notably moderate.
"The vast government expenditures
while logically causing tighter condl-
tons in money, stimulate sustained
activity in many directions, and there
are accommodating evidences of enhanced
purchasing power in the great manu-
featuring centres and in the prosper
Gus agricultural sections.
"A new crop season has opened au-
spiciously on the whole, and not only
has the improvement in trade and IN
dustry which promptly followed the
ending of winter of exceptional sever
ity met with no interruption, but it is
becoming more pronounced and general.
In some markets which are not yet
subject to official control additional
price advances have accompanied the
enlargement of transactions, and GER
tain commodities on which appreciate
concessions were lately obtainable are
now wanted by buyers at higher fig
ures. Yet supplies in many instances
are so limited and pressure of war
needs is SO irsistent that considerable
business from regular channels is still
being rejected, and the quantity and
variety of products available for civil
ian. uses steadily lessen as the per-
centage Of machinery going into gov
eminent work increases. That the war
requirements are the dominating in
huence is plainly apparent, and ordi-
nary demands, while rejecting expan
sion in many cases, continue restrict
cd in some leading branches"
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-04-06
Why Time Money Is Easier

The recent increase in offerings of
time money was attributed by banker
yesterday to the fact tha% the amount
of the third Liberty Loan was less
than had been expected, hence the
disposition of the banks to lend funds
that had previously been held prepare
tory to aid IN financing a much larger
issue of bonds. This banker, who has
had an important voice in the discus
SONS OF the money committee, said:
I'm view Of the numerous conflicting
reports concerning the size of the new
loan, banks had played safe Nv keen
ing their resources as liquid as pos
slble. But when the Treasury Depart
ment came out with the announcement
mat the loan would be for only So
o!oo,ooo,oo0 they found that thew were
IN position to relieve the time MONEY
situation to some extent and still keen
on hand funds with which to carry
bonds of the new loan bought OUTRIGHT
Or on margin" 10 'i'
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-04-06
Japan Seeks New Raw
Cotton Supply in China
Spinners Urged to Undertake
Plantations There

The Japanese government and bust
ness men directly interested have been
paying increased attention to the ne
cessity of expanding the output Of raw
cotton in Japan, or through Japanese
agency in other countries. This qucs-
ton has assumed renewed prominence
in view of the reports concerning
Egyptian and Indian cotton. The
opinion obtains among Japanese spin
ners and merchants that the embargo
will not be merely temporary meas
ure for the duration of the war, but,
on the contrary, even stricter prohibit
tive measures will be adopted by the
powers after the conclusion Of hostili-
tics. The Governor General of Korea
has assiduously encouraged the Guilt
walton of raw cotton in the peninsula,
and the output has considerably in
creased in recent years; but it is also
out of the question to increase the out
put to anything like the amount suf-
fcicnt to meet all Japan's require
mcnts. 1t is accordingly believed that
the only field open to Japan is China.
Talk of Cooperation
On the authority of the Osaka Main
lchl, 1T is learned that the Japanese
government some time ago urged spin
ners to undertake cotton plantations
in China, either in cooperation with
Americans or alone It is, however.
felt in Japanese business circles that
any Japanese-Amcrican enterprise
admits Of no immediate realization.
while the fact is that in the present
state of affairs in China it is not easy
for foreigners to undertake ENTERPRISES
outside the settlement areas. In tho
circumstances. some influential spin
ming merchants hold the view that
what should first be done to increase
the raw cotton available for japan is
not to buy land in China for cultiva-
ton by Japanese, but to supply fcrtil
i=crs and seeds for Chinese growers
and to cooperate in other ways with
tho Chinese authorities for tho i'm.
provcment Of the quality and the in
crease Of the output of Chinese cotton.
This opinion is receiving Increase,
sunport. end it is rcportad that tho
Iapancse Srinnin~- Association boro-r
long VIII ITO - "ond soma conc~e+.
'Nns in this direction.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-04-06
English Stock Values

The market value of 3S7 representative
securities listed on the London Stock
Exchange increased about e19ooo,ooo
during the months of January and Feb.
i ruary, according to the compilation of
~, he Bankers Magazine" of London.
The total market value of such securi-
ties on February Is was e2,61N ,78O 600.
me year opened with a much better
tendency. in stocks in general, this be-
ing partly due to the lower value of
money, which was initiated toward the
end of December by the reduction in
british Treasury bill rates. At the
end of January the market value Of
these securities showed an increase Of
Approximately s22 100000, part Of Which
was lost on the decline that occurred
m February. A good part of the net
appreciation in market value of the 3S7
issues was due to the rapid recovery
IN American railway shares listed on
the London board. During 1917 the
american rails declined s140,OO0. 900. or
~ per cent in value in London. The re-
covcry in these shares in January
amounted to 81 per cent, and in Feb
ruary to l.6 per cent more.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-04-06
Stock and Bond Averages
Railroads Win Decision
Minnesota Court Affirms Opin-
ion of Lower Body

ST. PAUL, Mimi, April 5.-The
Minnesota Supreme Court, in opinions
filed to-day in proceedings brought by
the state to enforce collection OF per-
sonal property taxes to the amount of
approximately $50,O000OO on stocks
and bonds Of other railroads held by
the Great Northern, Northern Pacific
and Chicago G. Northwestern COM
panies, affirmed the Judgment of the
lower court in favor of the railroad
companies, with one exception.
In the case Of the Great Northern,
tho opinion enables the state to COL
lect approximately 100000 Of back
taxes on industrial stocks not held by
the Great Northern for railroad pur-
poses. In each case the trial court
held the securities in question, with
the exception of the amount noted
against the Great Northern, are nom
asSesSable.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-04-06
Corporate Returns
Electric Boat Company.-Thc annual

Electric Boat Company.-Thc annual
report for the year ended December
81, 1917, for the company and sub
salaries shows net operating profit of
S2,370,5S9, compared with S7,012,084 for
the year before. Other income
amounted to S241,424. Depreciation
was S531,974, compared with 1892, 635
for the preceding year. Net income
compared with S6,47o,449, equal to
SS4.45 per share, for the previous year.
Dividends were S1,3sO,978, compared
with S4.603,26O for 1916. Surplus
amounted to S699,06O, compared with
s1,S76.1S9 for the year before.
American Rolling Mill Company
Statement for the fiscal year ended
June so. 1917. shows operating profit
of $6,816,400, compared with 81 223 9S9
for the previous year. Operating in
come was S3,949,5S7. compared with
S3,101,512 for the year before Other
income amounted to S1,925, compared
with S40,175 for the preceding year
Interest charges were S5S,S50, COM
pared with s177,4s3 for the fiscal year
ended June 80, 1916. Balance avail
able for dividends and specia! charges
was S3,s92, 1852, compared with S2964,-
2O4 for the previous year. Dividends
were S1,103,275, compared with $597,2
for the year before. Surplus for the
year was $2,789,3S7, compared with ST.
379,445 for the preceding year.
Northern Pacific.-The company's re-
port for February shows gross of &c.
1,437, compared with $5,43O,116, for
the corresponding month of 1917. Net
after taxes was 1851 ,846, compared with
S1,555.732 for the same month of the
preceding year. Gross for the first
two months of 1918 amounted to s12,-
19G,2G7. compared with $11,719,591 for
the corresponding period of the year
before. Net after taxes was S1,643,-
S11, compared with $3,7S3,076 for the
sanfe months of 1917.
Minneapolis, st. Paul & Sault Ste.
Marie.-February gross amounted to
81 ,237 ,119, compared with S1,050,926 for
the corresponding month of the previ-
Gus year. Deficit after taxes was $780,
269. compared with an income of S28,-
12O for the same period of the preced-
ing year. February gross for the Chi
cago division amounted to $799,T82,
compared with sS35,425 for the year
before.
New London Ship & Engine COM
pany.--Statement for the year ended
December 81 last shows net income of
~0ou9Si AFTER all charges. Dividends
amounted to $49,s32. Gross sales were
$5,085,237. Net profit from operations
was $613,690. Profit and loss surplus
as of December 81, was S1,132,9S2.
Assets Realization Company.-Def-
icit for the year ended December 81,
1917, was S1,14S,332, compared with a
deficit of s939,409 for the year before.
Total surplus as of December 81, 1917,
was S2667.1S0.
Albert Pick & Co.-Sales for the
month OF March amounted to s497,S99
Chicago. indianapolis & Louisville
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-04-06
National Lead
Earnings Larger
Assets of Subsidiary Trans
ferred to Parent Company;
Costs High

Net earnings of the National Lead
Company for 1917 as disclosed in the
annual report issued yesterday we're
the greatest in the corporations his
tory. They amounted to $4,S96,952,
compared with $2,977,6 in 1916, the
previous high record. After allowing
Tor per cent dividends on the pre-
ferred stock. there was balance of
So,l31 ,22O, equivalent to 1916 per cent
on $zo,oo5,4OO common stock outstand-
ing, compared with GIG per cent earned
in 1916.
The large increase in earnings was
due to the fact that last year the as
sets Of the ST. Louis Smelling & Re
ming Company were transferred to
the parent concern, and it's accumulate
ca surplus as consequence was in
GUIDED in the earnings Of the National
Lead Company. The stock of the sub
sldlary property, formerly valued at
2i,oo8,2o8, IS now carried at 100000
Inc undivided surplus of the st. Louis
smelling Refining Company at the
$4,071,148.
Edward J. Cornish, president of the
National Lead Company, said in the
report regarding trade conditions:
"fhe cost of raw materials continues
very high, largely due to war condi-
,lons. The market price of tin is t,ou-
bic and of linsecd oil treble its normal
value. Wages of common labornTs
have doubled. The cost Of fuel acctic
acid, lumber, tanbark, freights, carriage
and everything that enters into the
cost of manufacturing and marketing
our products have greatly increased.
In obedience to natural laws sales in
certain lines have fallen off, while in
other lines, which are influenced d.
rectly or. indirectly by war conditions
and requirements. they have taxed the
capacity Of the company"
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-04-06
ReAexes Of War

According to a Stockholm publica-
ton, the incorporation OF new COM
panles in Sweden during 1917 vas =
record. The number Of applications for
the registration of new companics
which before the war was from 500 to
600, has, according to official statistics.
increased to such an extent that during
1917 the number was more than 1900
In 1915 600 companies were started
with capital oe about 1o0, 600 900
crowns (s2s ,so0Ooo). During 1916 tho
number increased to 900, with more
than twice the capital, or about 900
oUo,OO0 crowns (s53,6O000O) During
l9l1 new corporations were registered.
WIN capital amounting to more than
4O0, 100000 crowns ($1O7 800 OOO). and
were 1882 in number. In 1917 five new
banking companies were founded. with
capital of 380C0,OOO crowns (s10184-
O00); life insurance company and 35O
industrial and landed estate companies.
with capital totalling 14O0O0, 900 crowns
1897 100000. The trading companies
numbered no fewer than 600, with capt.
tai OF 100000 crowns (S47,436, OO0):
scventy-iive shipping companies, with
j.
c00), and 1G5 companies for various
purposes. with capital Of $4,000 COO
crowns (SG.700 ,0G0).
The Sheffield correspondent of "Thc
London Economist" writes of the Eng
fish iron and steel trade: "Thc posi-
ton has worsened as regards the
scarcity Of hematite iron, which now
threatens seriously to interfere with
the production of the steel furnaces.
The allotment of such material has
again been cut down, and now barely
equals the quantity necessary to keen
the plants running continuously. The
country badly needs increased blast
furnace capacity, as the limited tom
mage of forge and foundry pig coming
on the market is occasioning anxiety
to the authorities. Further efforts are
being put forth by the government do
partment concerned to bring to the
market any odd parcels of scrap metals
which may be lying about the country
Less steel is going into projectiles and
gums, but. owing to the increased re-
1uirements Of shipbuildng. aircraft
and tanks, the maximum OUTPUT of tho
furnaces is needed. The demand for
tool steel is comparatively quiet, owing
ia the cessation of exports to Russia.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-04-06
Wool Prices Still Rising

BUSTON, April 5.---"Thc Commercial
Bulletin" will say Tomorrow: "The
WOOL market continues keen for the
limited stocks available or for stocks
to be imported, free of government
restraint. Sales for the week were
about 100000 pounds, including a
'a'r proportion OF territory and Cape
woods Of the fine and fine medium
grades at fully last weeks quotations
The tendency is to mark up prices on
woods still on hand.
"Thc government is occupying more
and more machinery at the mills on
military fabrics and has taken over
one woollcn plant in It's entirety. The
West IL still inactive"
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-04-06

and some makers have stocks of ma

and some makers have stocks of ma
tcrial. Alloys for high speed steel are
extremely scarce. Makers CT farm and
garden tools are experiencing the
heaviest demand in the history of the
trade: The average merchant orders
are double and treble the quantity in
pre-war days. Vast quantities of gar
den tools are wanted by the cultivators
OF al!otments. 1t is calculated that at
the end of last year the world con-
tanned 1888 electric steel furnaces, COM
pared with All year ago. The number
IN the United States increased during
the twelve months from 1876 to 233, in
Canada from 10 to sc. and in Great
britain from 6S to $40. The number IL
Germany is estimated at 81"
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-04-06
Stabilizing Cotton Prices
Price-F king Committee tt
Discuss the Subject

WASHINGTON, April ga meeting
of representa- tives of the cotton in
dustry and the price-fxing committee
o. the War Industries Board was
called to-day for Wednesday to take
up the question Of stabilizing prices
The conference will deal particularly
with prices for cotton fabrics. Large
government purchases for war needs
have created runaway market. This
said, is recognized by the board as
equally bad for the industry and for
the nation. Manufacturers asked for
the meeting with government officials
and have expressed a willingness to
cooperate in every way.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-04-06

The above rates express the cost of
foreign money in terms of the Ameri-
can dollar. You buy an English pound
sterling at, say, $4.752s. The intrinsic
parity is S4.S65s per pound. Thus you
say either that pounds are at discount
or that dollars are at premium, which
is owing to the fact that in England
the demand for dollars with which to
settle accounts in this country is greater
than the demand in this country for
ENGLAND
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-04-06
/. G.. G.. to Examine Rates
Range Of Petroleum Charges
To Be Investigated

WASHINGTON, April 5.--A general
investigation of railroad freight rates
on petroleum and petroleum products
was ordered to-day by the Interstate
Commerce Commission.
The investigation was decided on in
view Of wide differences in the
amounts and percentages of recent rate
increases sought by the railroads. 1t
appeared, said the order, that an equit-
able adjustment of rates could be eff
fccted only by general investigation
covering the whole situation.