davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1918-03-15
State Banks Grow
Rapidly, Says
Supt. Skinner
New York Institutions Possess
One-sixth of Nations
Banking Resources

ALBANY, March 14.-Unprecedented
growth of banking institutions under
the supervision Of the New York State
Banking Department since the out
break of war in Europe is recorded in
the annual report to the Legislature
o-day Of George l. Skinner, State Su-
perintendent of Banking.
In measuring the developments that
have taken place since the revision in
1914 of the banking law, Mr. Skinner
states that at the end of 1917 the re-
ported resources of the institutions un-
der his supervision were approximately
$6,410, 900 900, an increase in four years
Of nearly $4,000, 900. and that the
number of institutions. expanded in the
same period from 925 to Lila.
The banking assets of these institu-
tions, he added, constitute more than
onesiXth of the total resources of all
the state and national institutions in
the entire country. The aggregate re-
sources of the trust companies and saw
ings banks of this state alone exceed
by one million dollars the total re-
sources Of the national banks in the
state. The assets of the investment
companies Of the state arc in excess of
$55 100000, and those of the safe de-
poslt companies reach nearly $10,000,-
900. The resources of the personal
loan companies and personal loan bro
kerS under the supervision of the de-
partment total $1,022,351.
New-York tribune., 1918-03-15
War Orders for Auto Makers

When the National Automobile
Chamber of Commerce. representing
practically all the important automo-
bile makers in the country except the
Ford company, announced On March 7
a 80 per cent curtailment of passenger
car production to aid in winning the
war, these same companies had. ar
ready booked over half a billion dol
lars in government contracts. These
orders. for the most part for trucks,
also include contracts for shells, air.
plane parts, motors, recoil mechanisms,
artillery carriages, steel helmets. mine
anchors and other products used di-
rectly in the prosecution of modern
war. While the cutting down of nor
NAL output will provide greater facili-
ties for war work, additional mechan-
ism is being supplied through the con-
struction OF extensive new plants, by
reopening and rctitting units that have
been Idle for years. Although the
average curtailment Of passenger car
output during the current year may
not exceed 30 per cent, certain COM
panies plan as much as a 40 per cent
reduction
New-York tribune., 1918-03-15
No Change in Loan Date

Commenting on reports yesterday
that the opening of the next Liberty
Loan campaign may be delayed beyond
April 6, the date set by Secretary Of
the Treasury McAdoo. Guy Emerson,
director of publicity of the New York
Liberty Loan committee, said he knew
of no change in the Treasury Depart
ment's plans. The tardiness of Con-
gress in passing legislation needed to
speed up the war preparations was the
reason given for the belief that the
next loan may not come out until late
in April. The fact that neither the
railroad bill nor the war finance cor
poration measure has yet been passed
was pointed to as an indication that it
may be physically impossible for Mr
McAdoo to introduce his loan bill legiS4
lation for some weeks yet.
New-York tribune., 1918-03-15
Wildcatting In Wyoming

The search for new oil production is
constantly pushing out in all direc-
tions. AT the moment Wyoming is the
scene of intense activity. There were
no producing wells completed in the
state in February, but operations there
are on "a large scale. "The operators
are enthusiastic over the prospect"
says "rhe OH City Derrick" "and hope
to place the state up we'll toward the
top so far as production is concerned
before the end of the year. There are
hundreds of fields to be tested, but the
producers are laboring under the same
hahdicaps that are found in all new
fields. A wildcat that proves to be a
producer must wait, possibly for
months, before Il pipe line can reach
New-York tribune., 1918-03-15
Money and Credit

All call loans at the Stock Exchange
were made on per cent basis yes
terday. Owing TO continued heavy
Withdrawals Of United States govern
mcnt deposits the banks were less lib
cral in their offerings. The bankers
money committee accordingly loaned
about 1900 900 at 6 per cent to meet
the day's needs.
In the market for fixed date funds
there was II dcarth Of offerings and
rates held strongly at q per cent, with
New-York tribune., 1918-03-15
American Woolen
Increases Wages of
10000 Employees

BOSTON, March 14.-The American
Woolen Company to-day announced a
10 per cent increase in the wages of
its $4,000 employees in New England
and New York, effective March o5.
This is the third increase by the
company in a year, n graduated in.
crease averaging 7 per cent having been
granted on April 80, 1917. and 10 ne,
cent advance on October 8. The cam,
pany operates fifty mills, many OF
which are engaged on government
work. The largest of these are locat.
ed at Lawrence, where more than l5.y
O0O operatives are employed.
New-York tribune., 1918-03-15
New York.

Offer Louisville Gas Notes.-Public
offering was made yesterday of the now
issue of S1,6O0,oOO secured 7c1 gold
notes of the Louisville Gas and Electric
Company by Bonbright e. Co., Inc, H.
M. Byllesby e. Co., and Wakefield e.
Co. at 97a4 and interest to yield 8e1.
The notes, dated March !, 1918, mature
September /, 1920. They are direct
obligation of the company. The pro-
ceeds are to be used chiefly to retire
the companys outstanding gold notes
maturing April l next.
Stock Exchange Membership Trans
ferred.-The seat of Edgar T. Pouch
has been transferred to +. Allan Wood
ir a partnership transaction. Court
land D. Hines, James p Donahue and
Howard f. Clapp have been elected
members of the exchange
New-York tribune., 1918-03-15
Iron Men Meet To-day

The sub committee on pig iron of the
American Iron and Steel Institute will
meet to-day in the Offices of the United
States Steel Corporation to discuss
prices. This session will be preliminary
to the general price conference that
will take place in Washington on March
20. 1t is understood that at to-days
meeting the manufacturers will prepare
data to show the War Industries Board
that the smaller producers cannot 60
on operating at the current rate of pro
duction at fair profit.
New-York tribune., 1918-03-15
News Digest
Foreign

London Exchange Quiet.-LONDON
March 14.-M Money was in better de
mand to-day. Discounts were steady
Trading i'll the Stock Exchange was
quiet but steady. Gilt edge securities
were cheered by the revenue returns
and the pl obable budget talance over
f60,000,000 Far Eastern stocks agair
were weak. Shipping shares offered but
fair business. Oil. mines, iron and stea
shares We're at steady prices
New-York tribune., 1918-03-15
Larger Earnings for
California Petroleum

The annual report of the California
Petroleum Company, issued yesterday,
showed gross earnings for 1917
amounting to $31s5,327, an increase of
1,104,173 over the previous year The
balance available for dividends was
S1,278,498, equal to 1875 per cent on
Sl2,343.026 preferred stock, compared
with 6.57 per cent earned in 1916.
Operating expenses last year abb
sorbed $723.049 Of the total earnings,
while further charge Of $673,877 was
made for depreciation. Other cx-
penses included $217.80S for taxes and
contingencies and $102,219 for interest.
New-York tribune., 1918-03-15
Relevant Comment
Allis-Chalmcrs Growth

In report submitted to the Stock
Exchange in connection with it's APP
plication to list preferred and common
stock in exchange for voting trust Ger
tifcatcs the Allis-Chalmers Manufact-
uring Company reports gross sales for
1917 of s26.l29.317. compared with
$40, ,440,50 the previous year. Last
years manufacturing profit amounted
to S5,O7S,946, to which was added $780,
S44 Of other income. After deducting
81 ,298,3 300 for Federal income and ex-
cess profits taxes there was a surplus
Of S4 ,OlO 400, an increase Of $S45, ,47O.
New-York tribune., 1918-03-15
Dollar in Foreign Exchange

Italian exchange displayed reaction
airy tendencies yesterday, and the rate
dropped back to 8.51 lire 10 the dollar
for checks, compared with a close of
1886 the day before
Spanish exchange was easier yester
day. following its sharp advance of
Wednesday. Pcscta checks were quoted
at 24.90 cents at the close, against 25.02
the day before. The rest of the market
Wa uulti.
Closing rates yesterday were as fol-
New-York tribune., 1918-03-15

it, and consequently this means great
delay, as the producer can hardly be
expected to continue building storage,
which will be useless when transporta-
tion facilities arrive" The latest re-
port shows that 1913 new wells are in
process of being drilled in Wyoming.
New-York tribune., 1918-03-15

Money rates displayed increasing
firmness in the local market yester-
day. At the Stock Exchange the
offerings of call funds by the banks
fell short of the demand and the
bankers committee stepped into the
breach, thereby preventing the call
rate from going above the per cent
level. The committee loaned in all
about $10,000,000 from it's $2O0,O0O,-
900 pool. The banks are continuing
to restrict their offerings of time
funds, in view of the large govern
ment demands on their resources, so
that the market for fixed maturities
has been only a nominal affair for
several weeks. It is understood
that arrangements will be made
soon, however, to make available for
the use of Stock Exchange borrow
ers sufficient time funds to carry
them over the period Of the third
Liberty Loan offering in April. In
its March letter on financial condi-
tions the Mechanics and Metals Ma
tional Bank has the following to say
Of the money market situation:
The money outlook is uncertain
and hard to gauge. A number OF
considerations combine to make it
so. There are the present very
heavy borrowings by the Treasury
on short term notes; within few
weeks three billions Of these notes
will be lodged in the banks. There
are the commercial requirements of
the country; these need care in han
ding, because Of the constantly
changing circumstances both as to
industrial conditions and prices.
There are the provisions that are
being made to meet income tax pay
ments in June. There are the pro-
visions to care for corporate matur-
ties, which for the year 1918 have a
grand total Of SS0O,O0O,O0O. Above
J
advances to borrowers who will sub
scribe to the Liberty Loan, and
whose borrowings will overlap those
still outstanding in substantial
amount by which bond subscriptions
of the Second Liberty Loan were
financed.
All the considerations affecting
the money market have placed heavy
burdens upon the banks of the
country. Up to now the banks have
played their part we'll and withstood
every test. Taking long and short
term securities of the government,
supplying commercial and financial
needs, and at the same time hold
ing money rates down to q fair level
has been no small task. The task is
by no means ended. Next month the
Third Liberty Loan, which is to be
perhaps the largest single bit Of
government financing the world has
ever seen, will demand undivided at
tention, for whether the banks act
| only as underwriters or are them
selves heavy subscribers. the money
market will have imposed upon it
heavier strain than on the occasion
of either Of the two preceding loans.
The present state Of tension in the
money market is in strong contrast
to the situation that prevailed a
wear apo At that timn althouoh II
was almost certain that we would be
forced into war with Germany,
money rates were easy, for the huge
demands on the capital market of
the governments gigantic war pro
gramme had not yet been felt. Call
money then was in abundant supply
on the Stock Exchange at per
/ cent Funds on time xucro avaiJa hIo
New-York tribune., 1918-03-15

Total gold holdings, 2,407, 7,o22,OOo
marks.
London Money Market, London,
March 14.-Money loaned at 2a4 per
cent.
Discount rates were firm, with short
and threemonths' bills quoted at 9-16
per cent.
New-York tribune., 1918-03-15

The sharp rise in railroad shares
at the Stock Exchange yesterday CO.
incided with the final agreement
reached in Congress on the railroad
control bill, which now becomes
law with President Wilson's sigma
ture. 1t was natural to attribute
the strength Of the rails to the be-
lief in financial circles that the en-
actment of this legislation elimi-
mates many of the uncertainties of
the railroad situation that have ex-
listed ever since the first of the year,
when the government took over con-
troll of the transportation lines.
What the ultimate effect will be on
railroad securities generally, of
course, remains to be seen. In yes
terday's market some of the leading
railroad issues showed gains of 1 to
points. Louisville & Nashville
closed Az points higher, Reading
25s, Erie 1 and Norfolk & West
ern IL. The movement of the in
dustrial shares was somewhat more
irregular, although the majority of
such issues left off with net gains on
the day. There was a slight in
crease in activity compared with the
preceding session, with professionals
still in control.
New-York tribune., 1918-03-15
$4,500,OO0
Detroit United Railway
". Ill
$4,500,000
Dated April /, 1918


1
S+soo Note If each Vi d dpnncpA
New Y o n
Trustee
4 from F
to be the direct obligation the Detroit United Railway
by pledge with $90O00O0
stocks IN 1917 dividends
dfo
inteeston thesen
The Ito refund
10 advances refund underlying
and for capital expenditures
For the ended December 3D. 1917 the lines show Gross
$3974,773
$780, 242 balance after of $2,l75,53l
tncomef the n all intre
$12, 500 900 fixed
eqnpne eterment other
in all Icsof
dsidnd
erateo 70 6perann
andre sondsub
legal APPROVAL
81 and interest. To net about 724qo
Wm A Read Co. Guaranty Trust Co. of New York
% nsan eud
New-York tribune., 1918-03-15

The above rates express the cost of
foreign money in terms Of the Amcri-
can dollar. Yo. buy an English pound
sterling at, say, $475M. The intrinsic
parity is $4.86M per pound Thus you
say either that pounds are at discount
or that dollars are at a premium, which
Is owing to the fact that in England
the demand for dollars with whic', to
settle accounts in this country is greater
than the demand in this country for
rounds with which to settle accounts in
England.
New-York tribune., 1918-03-15

Commercial Paper.-In a quiet mar
ket rates we're held at per cent. Out
of-town institutions were buyers of
prime paper.
Discount Rates. - Official rates of
discount for each of the twelve Fed
eral districts are as follows:
New-York tribune., 1918-03-15

Opinion of the Capital Issues Committee

of the Capital
Fveyer by April
ADa ss pas % % S9
New-York tribune., 1918-03-15

substantial demand for occommoda-
tion of this character.
Ruling rates for money yesterday,
compared with a year ago, were as fol-
lows:
Xoctordov Voor orO
New-York tribune., 1918-03-15

Below is given the current exchange
veiuc Of foreign money in dollars AMI
cents, together with the intrinsic goId
parity, as calculated by the United
State. Mint:
New-York tribune., 1918-03-15

Bank of France, Paris, March IA
The statement of the Bank of France.
with the changes from week ago, fol-
lows, in francs:
Gold ..... 5,37o,700ooo Dec. 100000
Silver -. 25e, 100000 Dec. 100000
Circ'l'n .24,744, 100000 Dec. $4,000, 900
Deposits 1888, 100000 Inc. 71,200, 900
L'ns G. dis $3.50, 100000 Inc. 80, 500, 900
Treas dep. 100000 Dec. 100000
Bank of Germany.-Thc statement of
the Imperial Bank Of Germany for the
week ending March shows the follow
ing changes, in marks:
New-York tribune., 1918-03-15

Sub-Treasury.--The banks lost s474,-
900 to the Sub-Treasury yesterday.
Silver.-Bars in London were quoted
at Add, unchanged; New York, S61ac,
unchanged; Mexican dollars, 91zc, un-
changed.
Gold to Mexico.-Gold coin to the
amount of 100000 was withdrawn from
the Treasury yesterday for ship
ment to Mexico.
Bank of England, London, March IA
The weekly statement of the Bank of
England showed an increase in gold
holdings of 9293. The proportion of
reserves to liabilities now stands at
1857 per cent, against 1871 per cent
week ago. The statement. with the
changes from week ago, follows:
The West Virginian. [volume] (Fairmont, W. Va.) 1914-1974, 1918-03-20

burg. spent the week end with 1lrs and
Mrs. 81 e. Mitchell n HoushtoRn.
Charles ". Eurbee OF Clarksburg.
spent Sunday with relatives IN the
Mrs. Frank Lille and little son have
returned from visit with relatives
Miss Lalah pavu, o: Fairmont,
spent Monday with Miss Florence Con-
nelly here.
Miss Fay Mead spent Saturday with
friends IN MorgantoTn.
Mrs. Weller, OF Canonsburs. Pa, IS
the guest Of Mr. and Mrs Charles Z.
Weller IN Washington street.
Miss Lottfe Glover, OF F!atrmout,
spent. Monday With Miss Hazel Pttzer
in Brookside.
Albert Evans, of Clarks6urg, spent
the week end with his mother, Mrs.
Samuel Evans. in Main street.
Mrs. NJ. J. Matthews spent Monday
with friends in FaiTnont.
Mary Williams. Of NoundsviIle, were
here from Morgantovu Monday even
ms for the 4. OF c. dance.
Russell Furbce and Dale Turner, OF
the ". Y. Z. at Morgautown, spent
the week end at their homes here.
]. Lee Arnett has returned after
serving on the petit jury in Fairmort
Dr.. F. ". Vance has returned home
after visit with his mother at French
Greek, Cpshur county. He attended
the basketball tournament at Buckhan-
non. which was in charge o. his broth
er. Harry Vance.
Mrs. f. c. Devore has returned from
Wheeling where she was the guest OF
her cousin. Mrs. Emma Spencer. at
Ohio Valley General hospital.
Mrs. Z. c. Tabier and child have re-
turned from a visit with the formers
sister. Mrs. Clarke, in Martinsburg.
The West Virginian. [volume] (Fairmont, W. Va.) 1914-1974, 1918-03-20
PersonaLs.

Mrs. Charles P. Flanagan and child
returned yesterday from a visit with
relatives in Clarksburg.
J. Fred Rex was in Burton, Hundred
and Littletou yesterday, on an adTer-
tisias trip for the {. c. Basnett store
AE. Beatty. of Tandalia, ILL.,. is here,
the guest of his sister, Mrs. Mary ).
Hough, IN Houghtowa-
James Z. swan returned this morn
ing af.er a weeks visit with relatives
in Pittsburgh, Pa.
Miss Mary Seamons returned Mon
day to her home in Morgantown after
a VISIT with her sister, Mrs. Il. J. Mat
thews, n Beatty avenue.
Rev. Charles J. KluseE was the guest
Of friends in Littleton yesterday.
Oliver Cook, of Cameron, vas a
business visitor in the city Tuesday
Mrs. C. c. Cofman and daughter,
Miss Alice spent Sunday with relatives
in Clarksburg.
Harry H. Harker returned here yes
terday after spending the past few
months in Akron. Ohio.
Mrs. John Radataugh, OF Columbus,
Ohio, is the guest Of her father, 7. b.
FLOYD, on Burt Hill
Winston T. Smith was business
visitor in Fairmont yesterday.
Dayton A Rymer returned yester-
day from a business visit in Wheeling
Miss Elizabeth Villferes has return
ed to her home in LittIeton after avis
it WITH friends here.
B. Frank Beer, off Moundsville was
a business visitor in the city Tuesday
Rev. Thomas KoontZ, Of Wheeling,
is the guest Of his brother, Rev. ]. v.
Koontz. The former delivered SER
mon in the Presbyterian church Mon
day evening.
Mrs. E. o. Murray has returned from
Hundred where she has been holding a
series OF religious meetings.
T. R. Hite. OF Cameron. spent Sun
day with his daughter, Mrs. Lucian
H. Boor in High street
Mr.. and Mrs. Loveland, Of Clarks-
The West Virginian. [volume] (Fairmont, W. Va.) 1914-1974, 1918-03-20
MANllNGTON
wac Food Demonstration.

The war Savings Demonstration
which viii be held IN the Domestic
science rooms at the local public
schools tomorrow afternoon at $3.50
promises to be Of great interest. Miss
Virginia, FouIk, OF Huntington, viii
give a lecture on War Savings Stamps.
Miss Blanche Price, OF the State Cnt-
versity, win give a demonstration On
making Liberty bread, eggless mullins
and deep apple pie. The Woman's
club under Whose auspices the meet
iiae q held, ask and urge every Man
ainEton woman and every woman's or
eaniSation to attend
The West Virginian. [volume] (Fairmont, W. Va.) 1914-1974, 1918-03-20
HoteI Arrivals.

Bartlett-o. Z. Bethel, Il. L. shep-
perd. Geo. T. Bell, ]. T. Wheeler, Carl
Smith, Wheeling; H. E. CochFane,
CIarksburg, S. ]. Appel. Chicago; z.
E. Pope. Parkers burg; c. A Lopez, y.
B. Carstott. P. c. Marulanda, Fair
mont: John 8. lie Soux. Fairmont;
Arthur Cshrison, New York.
WelIs-J. 3. Fisher, J. D. Hammond,
ClarksburS; F. S. Davis. Cleveland,
Okla; Guy B. Wallace, a. L. Rinoy-
NIorgautoWn: o. E. Springer. Salem
Charles Kirk. L. NJ. Ncel, Pittsburgh;
R. e. Jones. Fairmont; j. c. EdSarton
Salem, =.
The West Virginian. [volume] (Fairmont, W. Va.) 1914-1974, 1918-03-20
SonhomoreS' Pay.

Friday evening, March %. the soph.
omore class of the local high school
will present farce comedy entitled
The Dear Boy Graduate in the school
auditorium at Sis p. N. Tickets are
now being sold by members OF the
class. and the proceeds will be invest
ed in War Savings Stamps. These
class plays are well attended each
year. and as this effort is for patriot
ic cause it should receive the liberal
patronage of the community.
The West Virginian. [volume] (Fairmont, W. Va.) 1914-1974, 1918-03-20
49, RIn Sueeesn.

The Knights Of Columbus dance Civ
en- in the new Modi building Monday
evening was a big success from all an
sles. The first floor Of the building
was used for serving refreshments
while dancing was enjoyed on the sec
ond and third floors. More than two
hundred dollars was raised. which was
divided between the K. ofC. War fund.
and the local Red Cross. SINNERS Or
chestra of Fairmont, furnished the mu-
The West Virginian. [volume] (Fairmont, W. Va.) 1914-1974, 1918-03-20
VIOLA ITEMS.

The Hawkins saw mill has arrived
at this place and will be ready to
saw in a few days.
Mrs. E. NJ. White, OF Murray, vas
visiting relatives here over SundaE.
Mr.. and Mrs. Don Hayhurst. Of
Watson, spent Saturday and Sunday
The West Virginian. [volume] (Fairmont, W. Va.) 1914-1974, 1918-03-20
RaeoYen nouhtfuI.

Word from Mrs B. Lewis Spencer
received from Wheeling where her hus-
bSnd was to have undergone surG1-
cal Operation for an afGiction OF the
stomach, tells that an incision was
made. and the physicians found the pa
dent was suffering from cancer, an
bouncing that nothing could Be done
furthsr than to sew up the wound. His
advancement Is considered hopeless.
The West Virginian. [volume] (Fairmont, W. Va.) 1914-1974, 1918-03-20
100 Much TerritorY.

Four jitney bus owners were arrest
ed Saturday night for parking their
cars on forbidden ground on Market
street. The fifth owner was on the
right end of the street but was on the
wrong side. which proved his noisfor-
tune. At hearing Monday evening
before Mayor Charlton the men were
warned not to repeat the offense and
were excused with this reprimand-
The West Virginian. [volume] (Fairmont, W. Va.) 1914-1974, 1918-03-20
peath "a ChiId.

The infant son Of Gfr. and Mrs. Rob-
ert NJ. Rynd. of Main street, died Mon
day evening after a short illness OF
pneumonia and whooptng cough. The
funeral was held at the residence this
afternoon and the remains taken to
Fsirnont for burial.
The West Virginian. [volume] (Fairmont, W. Va.) 1914-1974, 1918-03-20
Called 20 Colorado.

Miss Lena P-ichard. OF this city,
who has been IN Pittsburgh. Pa, for
some time past. left that city last even
ing tor Colorado Springs. Colo, being
called by the critical illness OF her
brother, Hugh ". Prschard, who went
to Colorado for his health.
The West Virginian. [volume] (Fairmont, W. Va.) 1914-1974, 1918-03-20
State Secretary Here.

W. Eldredge, Of clarksburg, assist
ant secretary OF the State Sunday
School association. was here yester'
day on business connected with sun
day school worn
The West Virginian. [volume] (Fairmont, W. Va.) 1914-1974, 1918-03-20
Boy III.

Dale, the eleren-year-old son OF Mr..
and Mrs. Sylvester G. Wilson, has been
confined to his home for the past few
days suffering from a very severe III
ness at the home Of his parents at Ry-
mar.
The West Virginian. [volume] (Fairmont, W. Va.) 1914-1974, 1918-03-20
Moves on Farm.

William j Loudenslager, who has
lived in Clarksburg street for the past
few years, will move With his family
TO farm near Katy in short time.