davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1918-08-15
Swollen Capital Escapes
Present Levy and Little
Man Pays, He Says
Appears Before
House Committee
Uniform Inpost at High
Rate Advocated in
Special Report
Especial Dispatch to The Tribune)

WASHINGTON, Aug. 14.-Secretarv
of the Treasury McAdoo, in a state
ment he read to the House Wavs and
Means Committee to-day, presented a
detailed argument for the present ex-
cess profits tax with an alternative war
profits tax instead of the increased
excess profits tax the committee plans
to write into the sS,ooo,ooo,ooo reve-
nue. bill.
THE excess profits tax exempts cap
ital and burdens brains, ability and
energy" he argued. "The excess profits
tax falls less heavily on big business
than on small business, because big
business is generally overcapitalized
and small businesses are often under
capitalized"
Mr.. McAdoo discussed the taxation
situation from every angle, quoting
comprehensive data by department ex-
perts to support his argument. Before
the committee he showed how many
prominent industrial corporations
would pay greater revenue to the gov
ernment under his plan, but when the
statement was given to the press the
names of the concerns had been care
fully deleted.
The increases in the excess profits
tax proposed by the committee. he
urged, would not hit many great cor
porations, while a great number of
small businesses would find it oppres
slve. The war profits tax he advocated
would have a"maximum of 80 per cent,
and would affect nine-tenths of all cor
New-York tribune., 1918-08-15
australians Near Somme Capture Cateaux Wood
and Improve Their Positions Between Brav
and Etinehem; Machine Guns
and Prisoners Taken
Capture of Lassigny Reported
BY a London Correspondent
Italians Make Successful Assault on Mountain.
Guarding the Western Tyrol, Occupying
important Positions on Heights and
Taking Hundred Captives

lie French yesterday captured the town of Rihecour
e use rVer ana drove deeper into the enenys positions
oe1eaong MS lett flank south of Lassigny and Novon
through the wooded Little Switzerland" thew fouob+ +
difficult way cleaning up machine gunners and be.t; d
he German rear guards They progressed steadily desn tho
ooos OF mustard gas with which depressons were filled
ABOVE the Somme the Germans confessed their weakness
Degnnng withdrawal entirely new sector that north
OF Albert, on the left of TIE battlefront ~ '
New-York tribune., 1918-08-15
u. S. Troops, Barred From Attack,
Don Anzac Uniforms and Join Fight
Especial Dispatch to The Tribune

Especial o
WASHINGTON, Aug. 14--How to-
participate in the engagement capture
British of Hame the Pcardy
Secretary of War Baker The
Day
in order o get into the battle.
The American mostly from Middle believed
whose recently
sonay King George vaorous brgaded
Australians undergoing
combat training
before the attack Secretary said
decided the Americans sufficiently
tpate When notice the organizations, many
changed
they and helped the British the
New-York tribune., 1918-08-15
Drives Foe Into Pzemont:
Enemy Digs In for Trench F1ehtine

tate defence operations. At Canny-gur-
Matz. two miles northwest of Lassigny.
the Germans ere in the old trench
positions, where wire entanglements
still remain. The enemy is seeking to
unite parts of the old trench line with
some of their own former positions
and are continuing their efforts to hold
on there.
Revert to Trench Fighting
These tactics have again changed the
entire character of the fighting, bring
ing the troops back to hand grenade
encounters in the trenches.
From Thiescourt Plateau it would
hardly appear that the French can ad-
vance without artillery preparation, as
the machine gun nests in this rough
country cannot otherwise be dealt with
effectively.
The Germans ,bave had one Advaa"
New-York tribune., 1918-08-15
Pershing Reports
Successful Raid

WASHINGTON, Aug. 14.-"1n Lor-
raine one of our patrols made a sue
cessful raid on the encmy's lines and
brought back prisoners" General Per
shing's night communique said.
"In the Vosges a hostile raiding
party was repulsed. With the excep-
tion of considerable artillery activity
along the Vesle, there is nothing fur
ther to report"
New-York tribune., 1918-08-15
Asks 20 Austrian
Divisions; Gets Two

GENEVA, Aug. 14.-Twenty divisions
of troops were demanded of Germany's
allies by General LudendorF during the
recent retreat from the Marine, accord
ing to the "Democrat," which received
the news from German sources. Aus
tria-Hungary refused, but after Gen
eral Ludendorff had made threats
Vienna sent two divisions to the West
ern f,--t,.
For this reason the Austro-Swiss
frontier was closed recently.
New-York tribune., 1918-08-15
Tovn of Lassigny Is Captured
BY French, London Paper Reports

LONDON, Aug 14.-The town of Las
signy, on the southern part of the
Picardy battlefront, for which the
French had been struggling over the
hills to the west and south, has been
captured by them, "The Pail Mall Ca
zette" to-day says it understands.
The reported capture took place this
morning. News of the fall Of the town
has not been officially confirmed.
There was terrific fighting to-day on
New-York tribune., 1918-08-15
french Take Ribec0urt;; Gains Made on Lus;
Germans Begin Retreat North of ALber
New Allied Tonnage
Doubles July Losses

PARIS, Aug. lathe Allied and
neutral shipping sunk by enemy sub
marines during July amounted to
10000 tons, compared with 534,839
tons sunk in July, 1917. This radical
decrease in losses is doubly signif-
can't when the increase in merchant
marine navigation resulting from the
American shipbuilding effort is con-
sidered. The Entente nations con-
structed during July a tonnage in
excess by 100000 of that destroyed
during the month by enemy opera
tions.
The Entente tonnage sunk so far
in 1918 was so per cent less than
that lost in the same period of 1917.
New-York tribune., 1918-08-15

top of the Lassigny ridge, "The Even
ing Standard" reports. The French
we're fighting their way stubbornly for
ward, and this afternoon were pushing
solidly down the far side Of the e,eva.
ton, the reports say.
The Germans were said to be putting
up the fiercest sort of resistance. and
the lighting, it was indicated. might
last day or two before the hill was
finally cleared of the enemy.
New-York tribune., 1918-08-15
Diaries of Ex-Czar
Will Be Published

AMSTERDAM, Aug. 14.-In announc-
ing that the diaries of Nicholas Ro-
manoff, the former Russian Emperor,
will be published, the Moscow news
paper "Bjednota" SAYS that on the
day of his accession to the throne
Nicholas wrote:
"All around is treachcry, deception
and cowardice."
New-York tribune., 1918-08-15
AmeriicanShip
Eludes U-Boat
After Battle
New York Engineer Killed
With Six Others on
Tanker Kellogg

AN ATLANTIC PORT, Aug. 14.-The
members of an American transport ar
irving here this evening gave accounts
of a duel Tuesday afternoon between
the naval gunners Of their ship and a
German super-submarine which at
tackled their boat 800 miles off the
American coast.
About eight shots were exchanged
AS the transport under full steam drew
away, the U-boat ceased firing.
A German submarine carried ruth
less warfare up to the gates Of New
York City and torpedoed and sunk the
oil tanker Frederick R. Kellogg on
Tuesday night thirty miles south OF
Ambrose Channel light and about ten
miles off Barnegat.
A submarine sighted off Cape Cod the
same night fired torpedo at the steam
! trawler Walrus, missing the vessel by
narrow margin.
The presence of German U-boat of
the Cape about the time the tanker was
sunk near Ambrose Channel confirmed ID
the belief of naval officers that at least
two submarine raiders were in North
Atlantic waters.
Seven members of the crew Of forty
, two on the Kellogg, including two
United States naval cadets, were either
killed outright or drowned.
Thirty-five Survivors Landed Here
Thirty-fve survivors, picked up by
an American steamship, were LANDED
here yesterday morning.
Five Of the seven victims have beer
identified, as follows:
Samuel L. Johnson, second assistant
engineer, forty-two years old, New
York City.
| j. Kramer, third assistant engineer
forty-fve years old, Norwegian.
Francisco De Louga, mess boy, seven
teen years old, of Lisbon, Portugal.
William Stillman, United State:
naval cadet, twenty-nine years old
| Stillman leaves wife, Helen, living a
215 Commonwealth Avenue, Shelton
Conn.
Chester Cubberly, a United States
naval cadet, twenty-one years old, ha
a mother, Mrs. Mary Cubberly, livinl
at a. South Fifth Avenue, Lonl
Branch, N. j.
An unidentified oiler and fireman
are among the missing.
h.
Intelligence officers by Captain C. II
White and members of the crew, tn
tanker was proceeding at full speed VI
the coast, when within sight of Barne
ward side of the vessel under the en-
CINE room at 6:10 p. m.
Four Killed by Explosion
The explosion, they said, was terrific
killing four men in the engine roor
and tearing a great hole in the side o
the ship. The influx of water was s
great, said Captain White, that tn
tanker sank in three minutes. One 0
the lifeboats was blown to bits and an
OLner went uOWu WIN tne VtSScl II
crew had only time to launch two boat:
which picked up the various member
that had leaped into the sea as the shi
began to settle beneath the waves.
The motor on one of the lifeboat
failed to work and Captain White OF
dered sail hoisted in an effort to kee
az near shore AZ possible. HERNIA
Mcrtz, chief cook, said that the tw
cadets reported missing had rushed t
their cabins in an effort to save som
Of their belongings. They were neve
Seen again.
The cadets we're put aboard by tn
government to study navigation, an
, we're given / cent 81 year, while tn
tanker's owners paid them l cent
month, in ACCORDANCE with the law.
U-Boat Camoufagcd
New-York tribune., 1918-08-15
Australians Take Cateaux Wood

lhe Australians the Sonme captured Cateaux Wood
and improved their positions between BRAY and Eneben
Inc fall Mall Gazette, of London reported Yesterday
AFTERNOON that Lassgny had fallen into Allied hands bt h
is unconfrned. ~ W
The Italians made assault on the forbidd;r
mountains guarding the western Tyrol They captured 100
prisoners and occupied Monte Manteo Punta d Matted and
Tue spur southeast OF Gina Zgolon These mountains are
north OF the Adameo region The tremendous natnro Of M
obstacles here however, operations on major
scale. '
New-York tribune., 1918-08-15
Wilson Going Abroad,
So Paris Paper Says

PARIS, Aug. 14.--According to
statement by Deputy Maurice Da-
mour, appearing in the journal
to-day, President Wilson will make
a. visit to Europe and Paris.
The "Temps" says neither the
Minister of Foreign Affairs nor the
American Embassy has been advised
Of any intention Of the President to
cross the Atlantic.
New-York tribune., 1918-08-15
Enemy Loses Forward Trenches

In the sector of Beaumont-Hamel Serre Pusieux and
bucqoy front roughly of about miles, the enemy oave
up his forward trenches Field Marshal Hao annonnceJ
The line here had formed salient which the British vic;
tory to the south had made pronounced Undoubtedly b
eafeo an attack here such had him many prisoners
when Montdidier was encirced last week
On the vulnerable Lys salient Flanders too the enemy
gave up more ground at two potsaround Vex Beron and
east OF Meerenand lost prisoners and machine ns -
the process. N e"'' ~
New-York tribune., 1918-08-15
American Consul General
Poole Reports Outrages
by Bolsheviki
French and British
Held as Hostages
Military Missions Refused
Permission to Depart
From Russia

WASHINGTON, Aug 14.-Oficial dis.
patches to-day from American Consul
General Poole in Moscow lifted the cur
tain on what has been going on in Mos
COW and revealed an amazing train of
events.
The consul general, after witnessing
the violation of the French and British
consulates and the arrests of the con-
suls general and their stats, DESTROYED
his code book and papers and turned
the affairs Of the American Consulate
over to the Swedish Consul, at the same
time demanding safe conduct from the
country for himself and his associates.
French and British citizens have been
arrested and the Bolshcviki have an
nounced they would hold them as
hostages because Of the attack on the
Soviet government by British and
French troops at Archangel.
French and British Detained
Members of the French and British
military missions stationed in Moscow
were refused permission to leave the
country, in spite of previous promise
of safe conduct.
1t is possible that since the sending
of Consul General Poole's kilograms,
which began on July 20 and continued
until August 6, the situation may have
changed, because it is reported that
Lenine and Trotzky, the Bolshevik lead
ers, have fed and the Soviet govern
ment in Moscow may have been over
thrown. In that event Mr.. Poole and
Continued on page three
New-York tribune., 1918-08-15
49, 'ooo, 600 IN w. s. $. Sold

~ .sufON, Aug. 1A.-The Amer
u ~. xssS's asys bought $3.50, ,ooo, 900 Of
nsS and thrift stamps.
New-York tribune., 1918-08-15

Continued on page fve
New-York tribune., 1918-08-15
French and British Detained

Continued on page three
New-York tribune., 1918-11-03
On the Credit Side Of the
Great Wars Balance Sheet
In Spite of Destruction and Waste, the Wealth
Producing Equipment of the World Is Only
Slightly Impaired, While That of the
United States Is Greater Than Ever

/, think Germany will lose some things
that she had before. but I think the
United States will come out with more
wealth than it had before.
| do not say that the United States
might not have been richer if there
had been no war. That is another
proposition. If we could have had all
this industrial activity upon peace
enterprises. in developing and upbuild-
ing this country or other countries; If
we could have had the same complete
employment Of our people; if we could
have expended all this money and labor
in improving our. railways and other
public utilities and our industries; if
we could have electrified our railways
and our industries, and hitched them
up to the running streams; if we could
have enlarged our terminals, tunnelled
more of our rivers, increased our ware
house facilities. irrigated or drained
some more Of our lands. and done other
things l might name, instead of put
ting this labor and money into the war,
no doubt we would be richer to-day
But as it is we have changed over from
debtor TO creditor nation. and be-
lieve that in capacity for wealth pro-
duction--that is to say, in capacity to
turn out stream of products and SER
vices which minister to the comfort
and welfare of our people-we are de-
cidedly ahead of where we stood at the
beginning of the war.
And so far as the future of busi-
ness is concerned. there is no obstacle
to the continuance of business ac-
tlvity except the difficulty of readjust-
ing business to a peace basis. I do
not minimize that difficulty. On the
contrary, l think it very serious
one; but SO far as this theory Of the
exhaustion of wealth by the war is
concerned there is nothing in it. The
world is only slightly impaired, and of
this country is greater than ever.
New-York tribune., 1918-11-03
Canadian Exports Association and the
Advisory Council for Industrial and

ADVISORY council for Industrial and
Scientific Research.
The Canadian Industrial Reconstruc-
tion Association was organized last
March, with Sir John Willison as its
executive head. Its functions are to
maintain industrial stability and to deal
with practical methods Of reconstruc-
tion. Its work so far has been to
acquaint the manufacturers and farm
ers Of the country with problems and
to discuss problems and put in opera
tion methods Of solving them. The
association is gathering detailed infor-
nation concerning manufactured ar
ticles and how raw materials can be
and must be assembled.
Steps will be taken to bring en-
ployes and employers together that
strikes may be avoided and mutual
cooperation may be established. Ex-
aggerated and Jealous individualism
among manufacturers has been detri-
mental to business. Manufacturers of
allied products will be shown ways of
acting together to avoid cut-throat
competition. through sane division
OF work. Practical results from the
work OF the association are necessarily
in their initial stages. The associa-
ton is celebrating plans to utilize the
motion picture for purposes of instruc-
ton in processes Of manufacture.
The Canadian Exports Association,
under the executive leadership of Sen.
ator Frederic Nichols. has already rem
dered important service, but its work
is just beginning. The organization,
fathered by the Canadian Manrfact-
urers' Association and backed by the
New-York tribune., 1918-11-03
Dollar in Foreign Exchange

Under the stimulus of reports Of
the surrender of Turkey and the
debacle OF Austria Hungary, rates on
neutral countries showed tendency to
move i'll favor of New York all last
week. Because the reduction of the
premium on neutral exchanges had al
ready been to large extent effected,
the weakness Of the neutral exchanges
was not as great as might otherwise
have been expected under the pressure
Of the news OF the seeming collapse of
Germany's allies.
Gradual readjustment of rates has
cut the premium of neutral exchanges
to from ] to per cent. Only few
months ago the discount of the dollar
and hence the premium Of the neu-
trals'-was as great as 90 per cent.
The view is commonly expressed in
we'll informed banking circles that
after the war the dollar will be at a
premium in terms Of money in neu-
trail countries. Funds are expected to
flow here from those countries for the
purpose of securities, raw materials
and the whole miscellany of COM
modities which will become available
for export after the abnormal restric-
tions Of the war are lifted.
Francs were firm during the week,
chiefly for sentimental reasons. Rates
on London. which are stabilized, re-
manned steady
If you calculate the cost Of the dol
lar in terms Of foreign money at par
value--that is, il you we're buying dol
lars with pounds. marks or francs-its
value at the close Of last week, as Gem.
pared with year ago, would be about
as follows:
New-York tribune., 1918-11-03
Prosperous in
Spite of the War

But there is a great lesson in all
this experience. and this is the lesson
of the possibility of increasing the
production of wealth in this country
Notwithstanding all the men who have
gone from the farms into the war and
into the war industries, the farms have
produced more in the four years Of
war than in any other four years OF
cur history. notwithstanding all the
men who have gone from the railways
the railways have handled more traffic
than ever before. And so you may 20
through most of our really vital in
dustries. the industries producing
necessaries, and find that production
has been greater than ever.
The wage earners on the average
have earned more, lived better, and
probably saved more than they ever
did before. The farmers have been
prosperous and the average business
man has been prosperous, and your
own records as bond-selling organiza-
ton indicate that there is wider dis
tribution Of investments than ever be-
fore. 1t sounds like paradox, and
some of it is fictitious, for OF course
the Liberty bonds do not represent
real wealth; they are only claim on
the future.
But Oh the whole the country is
really prosperous in spite Of the war,
and the explanation is in the fact thai
our wealth producing powers have been
working at tate they never worked
before.
New-York tribune., 1918-11-03
Finance Economics
Telephone
Hanover 6S1@

power, if unaccompanied by cor
responding increase of productive
capacity, means higher prices; in
other words, imitation. There will
be more Of it when subscribers to
the Fourth Loan borrow to make
their payments. 1t is not pleasant
to watch it, but we should watch it.
We have not gone as far as Germany,
but Germany never travelled faster"
New-York tribune., 1918-11-03
Aetna Explosives
Sales Reach SAG, ,295, ,0G4

Total sales of the Etna Explosives
Company for the year ended July 81.
1918. were $46,295,064 and operating
profits s6,82S,155, according to q re'
port submitted to the United States
District Court by the receivers. George
c. Holt and Benjamin B. Odell oui
of the net earnings there was de-
Quoted $3,054,971 for insurance claims
for commissions, fees, etc, leaving a
balance before Federal taxes ana
amortization charges of s3.773,lH.
The funded debt increased during tne
period under consideration sl6s,SW
and preferred stock decreased l,lS2n
shares, or $173,250, due to contrac'
with the General Crushed Stone Com
pany, whose contract for the exchange
Of bonds for stock was upheld.
New-York tribune., 1918-11-03

4o8, and an average authorized capital
of $4,000 rupees. or about $l2S,a6s
The number of new companies formed
in 1876 was 1877; in 1851, 1874;
and in 1918, 27S. The aggregate
authorized capital for the 278 COM
panies was 05,793.0 900 rupees. or about
S99 9,199,249 and the average authorized
capital per company was 100000 ra-
pees or about 1856, $40. The total number
of companies registered during the four
war years is 705. with total author
lied capital of 594,732.000 rupees. or
about $192,931,060. In addition to these
investments in new companies there
were. of course, p very great number Of
extensions Of existing companies"
New-York tribune., 1918-11-03
Anaconda's October Output

The Anaconda Copper Mining Com.
pany in the month of October produced
23,450,000 pounds of copper, an in.
crease of 1,113.54O pounds over the
spending period a year ago. In
September the compan'y's outpu.
amounted to 81 10000 pounds, and with
that exception the October production
figures are the smallest thus far fos
the year.
New-York tribune., 1918-11-03
Corn Products at New High

Corn Products Refining reached the
new hign record price of 49s4 in yes.
terday's short stock market session
and closed at 49l4, net gain of Is Of
E. point. Trading in the stock con.
tinued in heavy volume and talk was
heard that the present buying move
ment was founded on the theory that
the company will materially benefit
by the advent of peace.
New-York tribune., 1918-11-03
O. & WIS Rental

The amount of the Ontario & West
ern's rental compensation under the
company's contract with the govern
men. has been fixed at S2,l03.5 .5Se. As.
suming other income and fixed charges,
equal to those of last year. It is esti-
mated that there will be, surplus this
year equal 20 1.6 per cent on the s5s-
10000 stock.
New-York tribune., 1918-11-03
Money and Credit

The statement issued ty the Clear
ing House Association yesterday
showed decrease in loans and dis
counts Of sA5, 900 during the last
week, and net deposits decreased $780,
1900. The total Of loans, discounts
and investments was s4,724,372,000.
Excess reserves increased $4,000
United States government deposits to-
tailed s389,719,00o, compared with
*474 1881 900 wee kago.
In it's statement for the week ending
November . the Federal Reserve Bank
Of New York showed total of bills
discounted ard bought Of $754,555,e51,
against 1922 973,i42 a week ago.
Bank Acceptances.-The bank accept
ance market yesterday was without
feature, with rates unchanged.
Thirty Sixty Ninety
Spot de- days days. days.
livery: Per cent.Per cent. er cent
Eligible
banks ..4A@4 4aa@4I4 49z@44s
E igi Bile
non-meM
ber banks. 1904 4a@4A 4Ia@49s
Ineligible
bank bills.5H@5 51a@s sN@5
For delivery within thirty days:
New-York tribune., 1918-11-03
---- - - =
FINANCIAL

CERTIFICATE NO. li.%3<. FOR FIVE q,
shares Of the capital stock OF the Lehrh
Valley Coal SAFES Company. in name of
Julia Avery Fish. having been lost or Wis.
laid notice is hereby given that app'lca
tion has been made for A renewal OF nv
same.-Advt.
New-York tribune., 1918-11-03
Relevant Comment
New Liberty Bonds Listed

Trading On the Stock Exchange IN
the bonds of the fourth Liberty Loan
will begin tomorrow, according to an
Official announcement yesterday. which
said that transactions will be for cash,
or the regular" way. The latter
phraseology means that all bonds must
be delivered not later than the day
following tho sale. The bonds Of the
previous issues closed the week more
than a point above the last sales of
the preceding week.
New-York tribune., 1918-11-03

Discount Rates.--The following table
gives the current rates Of the twelve
Federal Reserve banks or commercial
paper for all periods up to ninety days: