davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1918-08-17
Says Labor Costs
Offset Copper Price
Nevada Consolidated Presi-
dent Tells Why Mine Own
ers Want Increase

The increase of 211a cents a pound
in the price of copper which has been
in effect since early in July has been
more than absorbed by increased oper-
ating costs, according to D. G. Jack
ling, president of the Nevada Consoli
dated Copper Company in the COM
pany's report for the quarter ended
June 80. He said:
efforts have been made for some
time past to secure the consent of the
government to an increase in the price
of refined copper to cover the advances
in wages and increases in cost of mate
rial supplies, since the price of copper
was fixed at 23i5 cents, and to meet
the needs Of refineries by allowing ad-
ditional refining charges which was
necessary to prevent actual loss in re-
fining operations during the continu
ance of the present abnormal condi
tions.
early in July the price was fixed at
26 cents, an advance Of 2h cents per
pound, but this is more than absorbed
by the factors above mentioned, to-
rates which became effective June 25,
the latter representing over 1 cent per
pound of copper produced"
For the quarter ended June 80 Ne
vada Consolidated showed profit of
$2,191,518, equivalent to $1o9 a share
contrasted with only Is cents share
earned in the preceding quarter and
S1.65 a share reported for the second
quarter of 1917. The last quarters
earnings were based on price of
25.297 cents a pound for copper. Pro-
compared with 17,435,164 pounds for
ihe first quarter.
New-York tribune., 1918-08-17
r rench Gaining in
Industrial Output
St. Etienne Manufacturers Re-
port Increased Ribbon
Production in 1917


Although ruthless enemy has in
vaded France and been wreaking de-
struction upon its soil for four years
the French people are showing their in
domitable spirit in industry as we'll as
In war. In many industrial lines pro-
duction last year was greater than dur
ing the year before. Statistics by the
st. Etienne Ribbon Manufactured AS
sociation for 1917 show an increased
ribbon output over 1916 An unusual
feature of the industry last year was
the large increase in the production of
elastic tissues and of articles made
wholly Of cotton, which include ma
terlals used for war purposes, such as
heavy bands for machine gun car
tridges.
The value Of the production Of silk
and velvet ribbons and silk piece goods
IN 1917 is estimated at 1865, ,976
francs ($23, ,088,585), an increase Of "a
456,8b6 francs ($4,72O,173) over the nre-
consumption is given as ts. ess2s4dg aot1g
francs (S13,379,998), in which is includ-
ed the value of the production Of MANI
facturers outside Of st. Etienne.
amounting to about 9,289,0OO francs
!$l,792,7 IT'D. The direct exports of rib
bons in 1917 were \5O,3O3,55 francs
t$9,1os,68O, an increase of b.476. .764
francs ($1,057,015).
New-York tribune., 1918-08-17
War Orders Rule
All Lines of Trade
Steady Curtailment in Less
Essential Industries Is
Seen Daily

Every line Of trade is dominated by
war orders and supplies for ordinary
purposes are greatly curtailed, "Brad-
streets" states. Wholesale trade re-
ports testify to a good demand being
the rule, although there are exceptions
in the Southwest, where drouth has
hurt cotton and corn in some districts.
Past drafts and the prospects that mill
ions of additional workers will be
taken for the army have caused Sc
rious situation as to the labor supply.
every day sees war needs and ca
pacities expanded and so-called less
essential industries curtailed as to
fuel, labor supply and materials, and
closer to a war basis contain many prob
lens. The iron and steel trades show,
if anything increased tension in de-
mand, but fuel needs are more acute, and
pig iron makers hesitate to contract
engagements for 1919 pending clearer
views of government needs, which ex-
pand steadily, especially for steel for
shipbuilding and for direct war pur-
poses.
"Ordinary building still lags and Sc
rious effects have arisen from the gov
crnment mOnOpOllZlng materials Tor Its
own active programme. On the other
hand, the flour mills, long at low point
in activity, are favored by record
wheat movement, and the removal of
restrictions are increasing working ca
pacity."
"Dun's Review" says that while the
changed agricultural prospects have
not been without effect on sentiment,
causing some cancellation of orders,
business, in its broader aspects. is so
completely dominated by war influences
that crop considerations do not have
their usual bearing on national actit-
ties. That trade and industry have
moved under reduced momentum dur
ing the last fortnight there is clear
evidence, and no abatement of the dis
position to operate cautiously, both in
commercial and banking circles, has
been witnessed.
New-York tribune., 1918-08-17
To Stop Clearings
OF General Motors
Common Issue Supply Very
Limited and Stock Ex-
change Acts

The Clearing House Committee Of
the Stock Exchange announced yester-
day decision to discontinue the clear
ings Of General Motors common stock
after to-day. The opinion Of the COM
mittee was that the common stock Of
the General Motors Corporation is not
widely enough distributed to warrant
its continuance on the list Of stocks
cleared"
In other quarters Of the financial dis
trict the view was held that the action
of the exchange clearing house body
was intended as disciplinary meas
ure directed toward certain interests
who appear to have control of the float
ing supply of the common stock, which
has been estimated as low as 10000
shares out of a total outstanding of
contended that the ruling would have
the effect of lessening speculation in
the stock.
General Motors common in some Of
its recent active days has shown fiuc-
tuations of more than 10 points. The
manner in which the stock has ad-
vanced after period of decline has
caused the impression that it has been
the result Of q running in of the
shorts" This opinion has been more
or less verified by the large premium
on shares loaned On one occasion this
premium has been as high as "a per
cent, which means that for letting 100
shares of stock overnight the owner
would receive $3.50.
Of total of $50 stocks listed on the
exchange, figures made public yester-
day showed that only 1876 go through
the clearing house. In other words the
big majority are delivered direct from
one brokerage house to another, which
practice applies entirely to bonds.
New-York tribune., 1918-08-17
French Felt Hat Industry

The manufacture Of felt hats is an
important industry in the Grenoble
district of France, but the war has
greatly restricted operations in this
line owing to the lack of raw material
Hare and rabbit hair is largely used.
Such large quantities of hair have
been bought by Americans and shiuped
to the United States that a marked
scarcity exists in France. The quan-
tity and quality Of the felt hats shipned
through the Grenoble consulate to he
United States during two years are
as follows: In 1917, 3,s9S dozens
valued at 492,0sl francs ($94,972); in
1916, 1882 dozens, valued at 349 9.42s
francs N$e1 ,44O(; gain for 1917 of
4a6 . doaens. valued ut 142,663 francs
New-York tribune., 1918-08-17
lie following prices were quoted:
Urges Stock Depositing
Head of Mailing Company
Committee Makes Statement

More than 60 per cent of the pre-
ferred stock Of the American Mailing
Company has been deposited with the
committee which q short time ago is
sued a call for deposits as part of a
plan to liquidate the corporation. A
supplementary notice has been sent to
the senior shareholders urging imme-
1late al deposit of the undeposited stock.
W. Forbes Morgan. chairman Of the
committee, in this circular said:
ANY substantial delay in bringing
about the liquidation Of the COMPANY
IS likely to be costly to the first pre-
ferred stockholders. Fixed charges and
overhead of the American Mailing
Company now constitute constant
ana daily drain upon the assets of the
company, to which the preferred stock
holders Of the company are entitled
upon liquidation"
New-York tribune., 1918-08-17
Dividends
Extras

Acushnet Mills.-An extra dlvidel'
of SO per share has been declared 10
addition to the regular quarterly dlFl'
dend of 81 per share, both payable Ssf,
tember 2 to stockholders Of reeo'a
August is.
Chesebrough Manufacturing Con
pany-Extra dividend of 50 cents ps'
share in addition to the regular Gua.
terly dividend Of SO per share has !, os.. !.
declared, both payable September W"
stockholders Of record August 81.
Standard Oil Company Of 0hioTM
extra dividend of 81 per share has Ds. X.
declared in addition 10 the regua
quarterly dividend Of So per sns,a ,ia',
both payable October to stocSh0i'''
of record August 30.
New-York tribune., 1918-08-17
British Workman Thrifty

That the British workman is not
squandering his high wages is indicat-
ed by tho report Of the Liverpool Saw
ings Bank for 1917. This institution
was founded and has been operated
solely for promoting thrift among
working classes. Its report for last
year shows that for the first time in
it's history It's funds amount to nearly
$20,682, ,825. Deposits In 1917 surpassed
all records. Apart from sums lodged
with 1t for investments tho bank re-
ctived $b,300,000. 1t has 158,954 de-
positors.
New-York tribune., 1918-08-17
Elections

Frederick G. Herbst and Samuel Nj.
Spedon have been elected assistant sec
retares of the Columbia Trust Com
pany and John Matthews, jr., was ap-
pointed an assistant treasurer.
Edward B. Mclean, editor and owner
OF THE Washington Post" and "The
Cincinnati Inquirer" has been elected
a director of the Virginia Shipbuilding
Corporation, subsidiary of the United
States Steamship Company.
New-York tribune., 1918-08-17
Japan's Foreign Trade
Comparative Increase in Six
Months of 58O,352,687 Yen

During the six months ended June
30. 1913, the total foreign trade Of
Japan amounted to 1,736,s2o, 500 ven.
:a!.-.1.c:I an Increase over the corresponding
period of 1917 of 5So,S52.es7 yen. The
excess Of exports over imports was
57,o23,941 yen, while in the first six
months Of 1917 this excess aggregated
26O,571 1868 yen. % es "''o
Total Japanese exports Of merchan-
as dlse Tor the half year were S96,922,-
~ 10 yen' an increase Of 18S.402, ,635 ven
nauna i'm .ne othsr 5a, band. imports showed an
total of s39,s98,334 yen. For the e
month Of June exports totalled 143
se4ol2 yen. contrasted with imports
of 142, SOC, ,294 yen. '''p'A 20
New-York tribune., 1918-08-17
Crop Pessi1nis1n
Sends Cotton to
High-Price Levels
October $33 a Bale Above
Figure Preceding Govern
ment's Latest Report

Pessimism over the crop outlook yes
terday served as the lever by which
prices on future contracts in the New
York Cotton Exchange were lifted to
new high levels for the season. October
contracts sold III points above the
closing figure on Thursday, and more
than S33 a bale higher than the price
prevailing before the publication Of the
last government monthly report. 1t
closed at 31.53 and the general list
showed a net advance Of SO to lib
points.
Much covering by persons who had
sold earlier in the week in the futile
anticipation of q break in the South
western drought gave driving power
tc the upward movement. The continued
absence of hedge selling, moreover,
facilitated the rise. Reports indicated
that the prospects were for clear
weather in the section suffering from
lack of rain, and the forecast was 9or
dry weather and rising temperatures
in the Eastern belt.
Buying From Foreign Sources
The market opened steady at un-
changed prices to an advance of
points, and soon sold 25 to AZ points
net higher on buying, which seemed to
come in part from foreign sources.
Moderate reactions as result OF real
izing followed, but the market became
firmer and more active in the afternoon.
The recent buying by trade interests
seemed to have left comparatively few
contracts around the ring, and stop
orders were uncovered on the advance
which carried the active months about
100 to III points net higher.
The British Shipping Board has
allocated ocean freight room for about
10000 bales for shipment during Sep
tember, according to reports received
at the ring. This compared with an
allotment of 2SO,000 bales last year,
but compared with more recent months
it was considered encouraging. Exports
for the day were 25,424 bales, making
147,012 so far this season, against 49,
O94 last year. Southern spot markets
as officially reported were unchanged
to 1 cent higher with Memphis and the
Southwestern markets relatively firm.
Weekend Statistics
The following weekend figures we're
made public by the Cotton Exchanges:
Weeks into sight, 66,490, against b4,-
$40 last year and for the season, 1885,
S28,, against 123,209 last year. General
visible supply, 2,9so,591, against g.
lean, 1,854,591, against 1,275,65S last
year; increase in general visible 26,-
941, against a decrease of 1926 last
year; spinners taking for the week,
118,549, against 170,076 last year, and
for the season, 277,1S9, against 377,367
last year
The following prices were quoted:
New-York tribune., 1918-08-17
News Digest
Foreign

London Market Satisfactory.-LON
DON, Aug. 16.-There was satisfactory
tone in the Stock Exchange to-day. The
outside public was doing less business;
still, there were some buoyant spots in
the list, notably the Mexican and Hon
duran issues. Oil stocks were active.
The demand for Baku oil securities was
stimulated by the news that British
detachment had landed at Baku Brit
ish funds were strong, while those of
Russian group was dull. Speculative
stocks, such as those of tin mining
companies, were more active Monetary
conditions were unchanged.
New-York tribune., 1918-08-17
Corporate Returns
Brazilian Traction, Light and Power

F. Brazilian Traction, Light and Power
Company.-The annual statement of op-
erations for the year ended December
81, 1917, discloses gross revenue of &c.
005,138, which compares with $5,764,764
for the preceding year. Interest re-
ceived amounted to $198,56O, bringing
the total com Co. 'Nn year to S6,-
2O3, ,69s, against S6,019,473 for the year
before. After administration expenses,
interest, etc, Of S937 ,loO, surplus was
$5,266,5lS, compared with $5.674,642 for
the previous year. Preferred dividends
paid during the period totalled 100000,
the same amount as the year before.
Balance was $4,666,518, which is the
equivalent to s4.38 rer share on $685.
471,800 common stock, against $5,074,-
642, or equal to $4.76 per share earned
in 1916. Common dividends were ST.
314, ,136, leaving a surplus of $3,352, 1882.
McCrory Stores Corporation. Sales
for July totalled S793,632, compared
with s567,s77 for the corresponding
month of last year, an increase of
$225,755. The seven months gross
sales amounted to $4,855,659, against
$685. ,2S8, an increase of $930,371.
Union Natural Gas Corporation.-
Gross earnings of the corporation and
its subsidiary companies for the first
six months of the current year amount
ed to $4,356,601, compared with S4,-
S28,840 for the same months of the
preceding year. After operating ex-
penses Of S2,787,767, gross income
totalled S1,568,S34, which compares with
S2,361 ,025 for the corresponding period
of last year Interest charges we're
S129, ,613, against $137,356 for the six
months ended June 80, 1917. Dividends
Iaid during the period were $492 900,
a decrease of $4,000 from the amount
paid during the same months of the
previous year. Profit and loss credit
adjustment was $15,S75, leaving a net
surplus of 1868, ,0O6.
New-York tribune., 1918-08-17
Wool Situation Unchanged
Supply of Civilian Fabrics
Will Last a Year

BOSTON, Aug 18.-"The CONNER
cial Bulletin" tomorrow will say:
"The domestic wool situation is un-
changed, except for the announcement
of the government that the fall clip of
mohair is to be requisitioned. 1t is ex-
pected that the manufacturers will
have representation in the future on
the valuations committees.
Supply Of civilian fabrics Is re-
ported sufficient for year, following
the canvass Of the government, but the
supplies of raw material for civilian
wool are likely to be very limited for
some months to come"
New-York tribune., 1918-08-17
Final Brazil Railway Meeting

The last of series of four meetings
of bondholders of the Brazil Railway
Company was held in London yester-
day to ratify the composition agree
ment by which, it was said at the local
Office Of the company, the receivership
will be ended this autumn. Although
a report of yesterdays meeting has
not yet been received, it is believed
that the bondholders took favorable
action, as no strong opposition was an
ticipated. A meeting Of the stockhold-
ers of the company probably will be
held during the month of September
in Maine, and a call will be sent out
as soon as advices are received here
as to the results Of the London meet
ings.
New-York tribune., 1918-08-17
Queensland's Sheep Prospects

Ine great worldwide demand for
wool has directed attention in Aus
tralla to the opportunity presented in
Queensland for increasing the com
mionwealth's m production Of this essen
tlal commodity. Queensland, which has
An area of 429,120,O0O acres, or 670,50O
square miles, is the largest cattle dis
.rlct already. and has the pastoral ad-
vantages which should give it the lead
IN sheep breeding as we'll. 1t is esti-
mated that available land should sup
port 100000 sheep. There were moro
.nan 2o.OOO.O00 In Queensland In 1914.
New-York tribune., 1918-08-17
Extends Time for Returns

WASHINGTON, Aug. 16-Extension
to September 30 Of the date by which
must file with internal
revenut collectors returns showing
capital stock was announced TODAY
by the revenue bureau. Tax is i'm
posed at the rate of 80 cents per
81, 900 Of outstanding stock in excess
of $4,000, but all corporations organ
lied for profit, regardless of the
amount of their stock, must make re-
turns Or face so per cent penalty.
New-York tribune., 1918-08-17
Wealth
Relevant Comment
Liberty Loan Payments Lag

No figures were made public at the
Federal Reserve Bank yesterday show
ing the amount of payments on the
third Liberty Loan. It was stated, how
ever, that up to the close Of business
on Wednesday the total received was
s34,875,905, of which 31,29s,o19 was
in the form Of credits, while $3,577, 1886
represented cash. The sum due on this
payment is approximately $73,919,Oe9,
which includes the accrued interest
Of the GOT Reserve banks in this dis
trict only 236 had reported, leaving
371 still to be heard from.
New-York tribune., 1918-08-17
Output of Porphyries Drops

Production figures of the porphyry
copper companies for July show, with
out exception, decline not only from
the preceding month, but from the
corresponding period year ago as
we'll. Utah's output last month was
16,021,7 ,766 pounds, contrastcd with
18,5OO,O0O pounds in June and 1921
154 pounds in July, 1917. Chino pro-
duced 6,310,396 pounds of copper in
5gly aGS 7s4 s7os474 pounds d in June and
The production Of Ray Consolidated
last month totalled 100000 pounds,
contrasted with 7.736.559 pounds in
June and 7,808,766 in July, 1917. The
Nevada Consolidated turned out 6,400,-
900 pounds, against 7,250,000 in June
and 7.253,337 last year.
New-York tribune., 1918-08-17
DISSOLUTION NOTICE

STATE OF NEW YORK. OFFICE OF THI
SECRETARY OF STATE. S.:
This Certificate. issued In Duplicate
hereby certifies that the
JACOBS BROTHERS LIVE POULTRY
CO, INC,
domestic stock corporation. has nled ID
this office on this 18th day Of August, islt
papers for the voluntary dissolution Of sut,
corporation under Section 221 OF the Gsf.
eral Corporation Law, and that It appan
therefrom that such corporation has CON.
piled with such section IN order to be dh'
solved
Witness my hand and the seal Of d.
flee Of the Secretary Of State. at the City
of Albany, this fifteenth day d
[SEAL1 August, ore thousand nine hui
dred and eighteen.
c. W. TAFT.
Second Deputy, Secretary Of stass
New-York tribune., 1918-08-17
Join Federal Reserve

WASHINGTON, Aug. 16.-State in
stitutions admitted to-day to the Fed
eral Reserve System include the fol-
lowing, with the resources of each. =.
New Britain (Conn.) Trust Companv
S6,1s6pO0; Westfield IN. J.) Trust
Company, $2,100.0O0; Iowa State Saw.
ings Bank, Fairfield, Iowa, 81, ,62s 900:
Swift County Bank, Inc, Benson
Mimi, $1,456,0O0, '''"'
New-York tribune., 1918-08-17

The above rates express the cost Of
foreign money in terms Of the Ameri-
can dollar. You buy an English pound
sterling at say, s4.7695. The intrinsic
parity is s4.86% per pound. Thus you
say either that pounds are at q dis
count or that dollars are at 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-
counta in England
New-York tribune., 1918-08-17
Coal Output in France

Coal mining companies in the Loire
BASIN, in the st. Etienne district in
france, produced 4,537.s4O tons of coal
last year. an Increase of 933,305 tons
compared with 1916. The increase was
made possible by tho return Of n num-
bar Of miners from tho arm!eA
New-York tribune., 1918-08-17
New York

Mexican Petroleum Prospects,
Hartshorne & Picabia, members of the
New York Stock Exchange, have issued
a letter discussing the prospects Of
the Mexican Petroleum Company in
connection with the prospective devel
opment of an American merchant ma
rine using oil for fuel
New-York tribune., 1918-08-17

Domestic consumption of cotton
has apparently reached and passed
the maximum under present condi-
tions, not because Of lack of de-
mand, but because of the inability
of spinners to produce the goods.
The number Of active cotton spin
dies has been shrinking steadily dur
ing the last two or three months,
mainly because the mills cannot get
the operatives necessary to keep
their plants working at full capacity.
The decline in the number of active
spindles thus far has been small,
but the fact that there has been a
decline in the face Of strenuous ef-
forts to keep production up to the
maximum would seem to indicate
that the chances for increased do
nestle consumption Of the staple are
not promising.
New-York tribune., 1918-08-17
THE MORTGAGE-BOND COMPANY m
n

EW 1Ohh.
The following Bonds have been drawn q.
payment on October 1, 1918. on which Az.
the interest will cease: Series Q, Nos m
16S. 1884, 1890. 1851. 1880. A-Ils. nv,
B944. B-3S51, and will be redeemed Al M,
with interest to that date, upon preseutstss
at any of the following places for paymsmi
In New York
AT the office Of The Mortgage Bond ca d
New York. or
At the office Of Ladenburs. Thslmsu,
Company.
In London
At the Banking House OF Coutts 4 con
pany.
In Paris
AT the Banque dc L'Union Parisienna
In Amsterdam
AT the Administratiekantoor Broes 4 Gc&
man C. =.
New-York tribune., 1918-08-17

ANDREW ]. MCCORMACK. Auct,o,...
REGULAR AUCTION SALE
STOCKS AND BONDS.
by d42fLA, AnKlAN H. MULLER { SON
WEDNESDAY, AUGUST 81. iSr.
at 1890 O'Clock, at the
EXCHANGE SALESROOM
NOS. IA AND Is VESEY STREET
For Account of Whom 1t May Conc...
$780, 900 Commonwealth Power Co ~ y.
braska 1st Mtg. eee Bonds Isu "~
is shs. Greenwich Bank
100 shs Factory Products Export cs,,
ASH shs. American Speller Co-pn. fs
$4,000 Federal Dyestuff & Chemical cor,.
LIST Mtg. go Notes. due juno l. iii
New-York tribune., 1918-08-17
Coal Production Increased

Tho largest coal mines in New
Brunswick are near Mimic in the Grand
Lake region, and their output last
year increased about per cent over
1919 production.
New-York tribune., 1918-08-17
The Dollar in Foreign Exchange

Quiet conditions prevailed yesterday
in the foreign exchange market.
Francs, which have been gaining
steadily during the last week, were a
steady. Dutch and Spanish exchange
hardened and the other European neu-
trails remained weak.
Closing rates yesterday compared
with a week ago, follow:
Quoted dollars to the pound.)