davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1918-08-15
War Service Plan
To Stabilize Oil

Chairman A. C. Bedford, of the Ma
tlonal Petroleum War Service Com
mittee, announced yesterday plan to
stabilize the crude oil price and to
maintain continuous oil distribution.
The plan resulted from conferences
held in different parts of the coun
try. The fundamental features of the
plan are that large purchasing COM
panles shall continue to buy crude oil
at the posted market price, and that
all purchasers who now pay premium
be permitted to continue to paw certain
stated premiums, which shall be sub
stantially the same as are at present in
effect
All contracts hereafter made for di
vertlng crude oil from existing chan
nels are to be first submitted to COM
mlttees on conciliation and cooperation
created by the trade and consisting
OF an equal number of purchasers and
producers. These committees are to
report to the National Petroleum War
service Committee, and disputes the
latter cannot settle are to be referred
to the oil division of the United States
fuel administration.
But parties to all premium contracts
must agree that the pact may be can
celled wholly or in part at any time
by the President, the United States
fuel administration, or by the director
general of the oil division of the latter.
In approving of the plan, Director
General M. l.. Requa says his depart
ment understands that, while the pre-
miums are to be maximum, they are
not to be paid unless absolutely neces-
sary, and are not to be n justification
for demanding increased prices for
refined products.
New-York tribune., 1918-08-15
New York
American Telephone Bonds A

American Telephone Bonds All Sold.
j. P. Morgan & Co. announced
yesterday that all the S44, 100000 Amer
lean Telephone and Telegraph Company
bonds recently underwritten by them
and other banking institutions have
been sold. The syndicate has accord
ingly dissolved.
New Stock Exchange Listings.-
New issues admitted to trading on the
Stock Exchange by the governing COM
mittee yesterday include S6,423,0 900 first
and refundng mortgage per cent
sinking fund convertible bonds of the
international Paper CO.; $4,000 ad-
ditional first consolidated mortgage 5
per cent bonds of the Nashville, Chat
tanooga and st. Louis Railway; S1,00O,-
600 additional Z per cent cumulative
first preferred stock of the Booth
Fisheries Company; S55, ,482 900 three
year Z per cent secured notes of the
Brooklyn Rapid Transit Company.
Cities Service Bond Offering-Henry
L. Doherty e. Co. and Montgomery &
Co. are Offering for subscription at
1922 $6.00O,000 Cities Service Company
series r 7 per cent convertible de-
bentures, dated January I, 1918, and
due January |, 1866. They are part of
an authorized issue of S30.000OOO, of
which S21 100000 are in the treasury
OF the company and S8,785,000 are out
standing.
Tennessee Notes Sold Here.-The
National City Company and Redmond
e. Co. have bought and sold on a ABB
basis 100000 State OF Tennessee six
months Al per cent notes. This will
provide funds to meet obligations ma
turing August 20.
New-York tribune., 1918-08-15
Money and Credit

Banks began to call demand loans
yesterday as soon as the money mar
ket opened, and during the day it was
reported that more than 100000 900
possibly $25,oo0,oo0 had been called
The fact that the last payment on
bonds Of the Third Liberty Loan
is due to-day and reported with
drawals of some government funds
from the banks accounted for the
situation. and the money pool
made up large part Of these with
drawals, lending considerably more
than $4,000 900 on call.
Rates were firm at per cent on
mixed collateral and sH per cent on
industrial collateral. Virtually no new
time money was available. and the
nominal rates remained unchanged.
Auiing rates for money yesterday.
New-York tribune., 1918-08-15
Wealth Nj Markets and Commerce

the prices are higher, but the per
centage of fuctuation is probably not
much greater than in other years
Efforts to Govern Fluctuations
Mr. Johnson explained that the
local exchange had taken the follow
ing steps to limit excessive 1uctu-
ations: The margin requirement on
cotton contracts was raised from So
to $40 bale, thus restricting specu-
lations; no transactions are allowed at
a price more than 3 cents a pound
higher than the highest closing prices
of the previous session, and the ex-
change has urged caution on its mem
bers in accepting and executing orders
which "by size or nature. might END
to cause excessive fluctuations"
''In this market" Mr.. Johnson ex-
planned, 1--WE have never reached the
8 cent limit. But in Liverpool, where
the limit is two cents, the limit has
been reached several times and the
market has been compelled several
times to close for parts of day Thus
the upward tendency would not be
stopped, but was spread over longer
time. The limit helps only where an
acute temporary situation may ARISE.
The cotton inquiry will be contlnued q
to day and tomorrow at the Arkwright
will be heard. and later in Southern
cities, where the shippers and growers
will explain their situation under the
abnormal conditions of the trade. 1T
is expected that Admin strative and
possibly legal changes will result from
the investigation, but Charles j. Brand,
chief of the Bureau Of Markets, as
sured the cotton brokers that nothing
revolutionary was contemplated
New-York tribune., 1918-08-15
Bankers Act on
Acceptances Ruling
Resolve on Three Plans to Pre-
vent Loss of Days
Interest

Bankers from New York, Phisael
phia, Boston. Pittsburgh and Richmond
Va, at meeting yesterday in the o.
fees of the National Bank of Commen'
took supplemental action on the recsn
ruling of the New York CiesHns
House Committee to the effect that az az
ceptances may be cleared on the 0"
of their maturity. ,...
This was in the form Of q. resoil'lea
providing for three plans by when '1'
accepting banks will not lose ds'
interest as result Of the action =.
the Clearing House. The resolo''-
reads:
"Whereas. The Clearing House Con-.
mttce Of the New York clears
House Association by resolu-s.
adopted July 30, 1918, effective Augs,. .,
/, 1918, has ruled that acceptsnces NJ,
be passed through the clearngs Oh -
day of tkcir maturity, and
"Whereas, 1t has therefore oeeu...
necessary that banks executing acc's, T.
ances which are payable through ". "
New York Clearing House adopt so.;
uniform rule covering the time ~. ~.
manner of reimbursement from ''''
clients for such acceptances; LII
"Resolved, That the accepting o's p =
shall require from its clients tnss n y ~ -
placed in funds to meet acceptance -. !.
day OF maturity either by la -.
deposit of Clearing House tlnoS u. i.
day prior to maturity, or d. ~ u
deposit Of cash or check on the fea''. sn
Reserve Bank of New York on %! :.
maturity, or (c) debit 20 the accv--T .n,;-
Of the banks client on day OF ns.u'., nav :,
against funds cleared on, or pf'O' ~
such date .,.. 4,
John f. Rovensky, vice-preslden,s -, !
the National Bank Of Commerce, a.
acted as chairman of yesterday as.s nv;
ing, said that the charge OF " .y,r .rs
fixed by the Clearing House, on "a ~, -.
$1,000 of acceptances cleared G.u nuoT;.
come up for discussion. II is nav =.
however. that out-of-town banM
opposed to this feature OF the o.ss,, as.i,,
House ruling. and may call ns nv, yg
of protest. Boston is especla'''
orous in It's opposition.
New-York tribune., 1918-08-15
Allow Reduction on
Farm Device otes

The fact that makers Of agrlsa;.r s.;ar
machinery have secured 1.s rsau''iis', n y
S. a ton on steel bar shipmeh1ss, s,r ~
second half OF the year IS VIZ ..rordsss.. sss..
mented on in the steel trade as.sl ss;or >
to The Iron Age. \ conosss y
this interest on its bar pureha',r r,srs
been no uncommon thing loa pes '.sh
Government price fixing promise nrs.:s''
the end of it. But there was a.ssy.,si
at Washington to prevent any Tss Ts "
in implements to the farmer; ;,r ssr
plement manufacturers iiha,'y rrrss
to make no advance if the gu' an hs
would get them s. reducuo.. md y
The steel men were appea'eo "
reduction was granted. ,,r CO.'S
1t remains to be seen how :ns IA. trss
cations in other bar-consum."sss ssrissss iiss
will result from 2.65c bars 10. is ;sdss
ural purposes. But no other ..ars Al. y
heretofore has been able TO ss ss'ts msts
preference given to Implement ~
and the odds are even ;sis =
with the government thrown
agricultural scale.
New-York tribune., 1918-08-15
News Digest
Foreign

London Market Irregular-LONDON
Aug: 14.-Although profit-taking in
caused irregularity in the stock market
to-day, the undertone of trading was
decidedly good. Gilt-edged securities
were firm. with Indian stocks prom
inent. Central American issues had a
generally higher range of value.
Chinese securities we're strong on ar
rangements looking to the adoption
of the gold standard there. Diamond
shares advanced on reports of an ex-
cellent outlook for the industry. Gem
ent and oil stocks were active and
hardened.
New-York tribune., 1918-08-15
Dividends
Extras

Extras
New Market Manufacturing Com.
pany.-An extra dividend of l1z per
cent, in addition to quarterly divi-
dend of 2 per cent, has been declared
both payable August Is to stockholders
Of record August 13.
Cerro de Pasc0 Copper Company
An extra dividend of 25 cents per share
has been declared, in addition to the
regular quarterly dividend Of 81 per
share. both payable August 81 to stock
holders Of record August g.
Regular Declarations
Canada Steamship Lines, Ltd.-ouarterlv
dividend OF ~ per cent on the preferred
stock. payable October | 10 stockhoIdcrx ~
record September IA.
Hsrbison- Walker R<fraetories Comn.nx
Regular dividend Of N per cent on the com.
mon stcck, payable Septernbcr 10 stncL-
holders Of record August ~.
Swift e. Co.~Divdend Of 81 Der shnr.
payabIe October " Stockholders Of record
August n.
Union Tank Limo COMPANY. gemI-annual
dividend NJ $50 per share. payable Septrr1-
bef % w sNckhoIders OF record August 30.
PHILADELPHIA. Electric Cowpany.--GluarterIy
divid@nd OF ~ per cent. Hsyable e<ptenbcr
u " stocthojd~ss ~f y~a1yJ August 70.
New-York tribune., 1918-08-15
Russian Bond Interest Paid

The National City Bank announced
yesterday that it was prepared to pay
the scmi-annaual interest due on Rus
sian Government 5h per cent in
ternal bonds that were sold extensively
in this country during 1916. 1t was
stated, however, that only coupons
registered with the bank would be
cashed The amount of these ruble
bonds placed with American investors
has been variously estimated from be-
tween $4,000. 900 to $50, 6,O00,0 900.
New-York tribune., 1918-08-15
New Discount Bank Approved

An important step in the formation
of the new discount company projected
by New York bankers was announced
yesterday in the approval by the State
Superintendent of Banks of the certi-
ticate of incorporation. The institu-
tion will be known as the DiScount
Corporal tion of New York The incor-
porators named were William H. Por-
ter, James A. Stillman, e. V. r. Thayer,
John McHugh, Seward Prosser, George
T. Baker, Jr.; Edwin S. Marston, James
N. Wallace. Charles S. Sabin and James
s. Alexander
New-York tribune., 1918-08-15
Paris Market Quiet-PARIs. Aug

Paris Market Quiet-PARIS, Aug. ID.
Trading was quiet on the Bourse
to-day. Three per cent rentes sold at
81 francs 95 centimes for cash. Ex-
change on London was 27 francs. Five
per cent loan brought 81 francs 65 CEN
times. The Bourse will remain closed
until Monday, August 10th.
New-York tribune., 1918-08-15
Relevant Comment
International Papers Earnings

The statement presented to the Stock
Exchange by the international Paper
Company in connection with the listing
of an additional amount of its first and
refunding per cent sinking fund con-
vertible bonds showed total revenues
for the first quarter of the year OF
s1,146,958. The surplus available
for dividends amounted to $500, ,846.
The paper produced during the period
totaled 1O7,561 tons.
New-York tribune., 1918-08-15

Just as Wall Street was beginning
to get really enthusiastic about it
the stock market perversely stopped
climbing. Most traders and tinan-
cial writer's came to the conclusion
that the movement had been subma-
rined, but the torpedoing Of tank
steamer close to this harbor had
little to do with the setback. What
happened was that the markets
needs for money chanced to conflict
with those of the government. The
Treasury made large withdrawals
from local institutions at the same
time the banks were preparing to
meet the calls for money incident
to the payment of the last install
ment Of the Third Liberty Loan, due
to-day. The result was that loans
were called on rather large scale
and brokers had not little difficulty
in replacing them, even though the
money committee came to the res
cue. Naturally enough in the cir
cumstances stocks were sold and
prices eased off. The chances are
that the squeeze is only temporary
and that money will be in more plen-
tiful supply within a few days. But
yesterdays incident was significant
because it seemed to bear out the
views of those who have consistent
ly argued that big market was not
likely to develop owing to the lack
of funds to support it. Some bro
kers believe that big speculation
could be financed on call money,
without requiring time money at all,
and perhaps it could. But what
happened yesterday shows that such
a market would be dangerous one
and would therefore not be encour-
aged by bankers.
New-York tribune., 1918-08-15
The Dollar in Foreign Exchange

Francs continued to move upward
yesterday, but sterling was easier, and
all the neutral exchanges were weaker.
The action on rates on Paris confirmed
the opinion of certain well-informed
bankers that the Inter-allied Financial
Committee, on which the United States
is represented by Oscar T. Crosby, of
the Treasury Department, intends to
peg the rate on francs until it ap-
proaches the normal.
Rates on Canada have been steady
during the last ten days and we're
quoted yesterday at 1915, which
shows a marked Improvement since
June 26. when the Canadian dollar was
at discount of 2 ZIG.
Closing rates yesterday, compared
with a week ago, follow:
Quoted dollars to the pound.)
New-York tribune., 1918-08-15

Silver.-Bar silver in London was
4sisd, unchanged; New York, 99fsc.
unchangcd; Mexican dollars, 77c, un-
changed.
Sub-Treasury. - The banks lost
$a51,0OO to the Sub-Treasury yestcr
day.
New-York tribune., 1918-08-15

The above rates express the cost Of
foreign money in terms of the Ameri-
can dollar. You buy an English pound
sterling at, say, $4.7C95. The intrinsic
parity is $4.S64s per pound. Thus you
say either that pounds are at dis
count or that dollars arc at a 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
counts in England.
London Money Rates - LONDON.
Aug a.. Moncy was unchanged ut 3
per cent. Discount rates were: Short
bills and three month bills, 1892 pcr
cent Gold premiums al Lisbon re-
maincd 1870.
New-York tribune., 1918-08-15
Shoe Polishing Trade Is Dull

The fact that very considerable
number Of Wall Street executives are
now away on vacations has been dis
turbing to at least one industry--the
bootblacking industry. A young man
who shines the shoes of many of
Americas leading fnanciers and
brokers, reported yesterday that bust
ness was excessively dull. Seasonal
trades seem inevitably to result in a
waste Of labor in making adjustments
between times, unless trades are as
satisfactorily dovetailed as the coal
and ice business.
New-York tribune., 1918-08-15
Vacation Custom Is Spreading

workers are requiring the vacation
habit as a result of high wages. Men
who have never before interrupted
their periods of toll for a retreat to
the country in the summer are in
many instances doing so this year.
Working overtime has been an impor-
tant means of enabling workers to ac-
cumulate a surplus to finance vaca-
ton. The tendency to lay off would
develop much more rapidly, it is said,
if efforts were not made in essential
industries to explain to the men and
women employed the national need of
a maximum production.
New-York tribune., 1918-08-15

Discount Rates.-Tha following table
gives the current rates of the twelve
Federal Reserve banks on commercial
paper on all periods up to ninety days:
New-York tribune., 1918-08-15

Investment dealers are greatly
disturbed by the proposal now under
consideration by the Capital Issues
Committee which would vest that
body with authority to pass on all
bank loans of 100000 or more.
They assert that while the loans
they require in conducting their
business are all essential, since they
are obtained for the purpose of ham
ding securities approved by the
committee, the mere fact that a de-
cision was required by other than
the banker would prevent them
from doing business. Few, if any,
bond houses are strong enough to
carry the securities they buy with
out assistance. A bond house enters
bid for block Of, say, $5,O00,O0O
of municipal bonds, and, if success
full, it arranges with it's bankers for
a loan to carry the bonds until they
have been sold. If the bond house
has to risk refusal of the Capital
Issues Committee to approve loan
it is obvious that it could not afford
to bid for large blocks of securities
at all, because if the securities we're
awarded to it and it was unable to
obtain the funds necessary to carry
them it would be obliged to de-
fault. That is only one of a number
of objections to the plan, but it is
an importantsone.
George E. Roberts, of the Ma
tional City Bank, has raised an in-
teresting question in connection
with the loans our government is
making to the Allies. He says:
These loans will soon amount to
ten billions of dollars and over, and
the interest coming to us on these
and other foreign holdings will be
over $500,000000 per year. Our own
securities which were held abroad
have been largely returned to this
country. How are our debtors going
to pay this interest? They cannot
pay it in gold; that is a physical i'm
possibility; there isn't enough gold
produced in the world to do it, and
If there were we do not want it here.
Will they pay it in goods? We don't
want balance against US of $780,
100000 year in goods. We have
been accustomed to have a merchan-
disc balance in our favor, and we
want to increase our exports of
goods. What are we going to do
then, with this accruing interest?
About the only course open to us is
to capitalize it, reinvest it abroad
and go on reinvesting the proceeds
abroad. We are out in the world to
stay because we can never get our
belongings home.
We imagine the fund will be uti-
lized in the reco instruction of the
devastated areas in France and Bel
gium, which would be the most sat-
isfactory use to which it could be
put since it cannot be repatriated
for active employment at home.
New-York tribune., 1918-08-15
Consolidated Exchange
UNIT of trade on this exchange, 10 shar.

- MI VI tIduc OH tNlS eXCndnRe, ~ ghaYeS1
Transactions and prices yesterday for the
more active shares follow:
Sales. Open High Low. Last
1850 G & ST p. 4sLa 4sss 4sl4 4ess
7so Erie 155a 1874 t5Ns 15ss
1890 Mexican Pet. 1o1 1925 1ooa4 1o1
$50 Y II & H ave 427s 4134 1924
142O Reading ..... o114 otN4 1894 9oIs
7$o Tobacco Prod. 72as 73 .7t7s 72
690 Union Pac -. 1854 1854 124 1243A
1880 S Steel. tt2A 112T, f1O3A 111Le
BONDS
1000 Int r T 5s- 1925 1921 7ss5 7saS
LIBERTY BONDS
$4,000 Liberty 312s 100 e2 100. 81 too.52 100. SO
$500 do 1st As. 94.84 e4.83 e474 e48s
$500 do I'd As. e4.74 s4.78 e4.6e ga 6e
2l00 do 1st AIS 94.82 94.9O e482 90 90
5000 do I'd AIS 94.3o o4.a2 e47o 3D. 78
'Prices include interest
New-York tribune., 1918-08-15

KeScFVe BANK Tatc. o5.73 35.73
Below is given the current exchange
value of foreign money in dollars and
cents. together with the intrinsic gold
parity, as calculated by the United
States Mint:
New-York tribune., 1918-08-15

Bank Cearings.-Bank clearings in
New York and other cities were as
follows:
New-York tribune., 1918-08-15

compared with a year ago, we're as
follows:
Yesterday. Year ago.
Per cent Per cent.
Call money:
On mixed collateral 6 3La
On industrial coltl 6L2 3
Time money (mixed collateraD:
Sixty days ....... 8
Ninety days 3. 60 4 @4H
Four months .....6 AL2@434
Five to six months 4a4@5
Commercial Paper-Country institu-
tions are fairly large buyers of com
mercal paper. The rate is firm at 6
per cent for the lest regular ma
turtles.
Bank MISUNDERSTANDING to the
firm money market the demand for
bank acceptances is somewhat lighter.
Rates yesterday were as follows:
c.. Thirty 1aIIt Si,,t Sixty Ninety Nine.
livery: Per cent. Per cent. Per cent.
E j e bic
banks. ba .4a@4 4a@414 4h@4}4
E igibla
nOn-mem
Der banks.414@4Is 42s@4h 42a@4h
ell BILE
bank bills.54@4 sA@4s4 5L4@4s4
For delivery within thirty days:
Per cent.
Eligible member banks ........ 4M
Eligible non-member banks. zee. +s5
Ineligible bank hills.
The Ocala evening star. [volume] (Ocala, Fla.) 1895-1943, 1918-01-07
ATTENTION, LADIES
OF OcALA
Soldiers of Company 4 at Camp
Wheeler are in Need of
Thirty Sweaters

Do you know that our own 0cala
boys in Company A at Camp Wheel
er actually need thirty sweaters
This is a positive fact, and these
simply must appear IN two weeks. So
drop everything on hand, and knit a
sweater instead.
There viii be no red tape about the
journey of these sweaters, they viii
be sent direct to Captain Drake who
viii distribute them at once.
We know how easy it is to catch
cold here, then think of how much
more clothing is needed further north.
and get busy at once on a sweater and
work day and night and sent it with
in two weeks. There is no sense IN g.
beginner trying to accomplish such
task, we want real knitters for the
boys most need sweaters IN the
spring. The Red Cross furnishes the
wool free, and Is pounds of it is now
at the home of Judge W. S. Bullock
on Fort King avenue waiting for
thirty ladie sto call for thee hanks
each.
For further information, phone or
call on any member of the knitting
committee: Mrs. B. T. Perdue, Mrs.
E. A.. Osborne, Miss Frances Tarver.
Miss Alice Bullock, Miss Adele Bit
finger and Mrs. J. Harry Walters. 2t
The Ocala evening star. [volume] (Ocala, Fla.) 1895-1943, 1918-01-07
A GOOD TONIC

That the fair is appreciated by the
farmer, which it stimulates TO great
er efforts, is shown by the following:
Mrs. A. Tweedy, Secretary Marion
County Fair Association:
Dear Madam: I have just received
check covering awards for twelve
premiums received at the recent coun-
ty fair. I desire, through you, to
thank. the association for its fairness
to me and to say that my purpose as
an exhibitor was more to aid the fair
than to strive for premiums.
regard the fair as great educa-
tional institution, valuable and indis-
pensabIe in my judgment TO the IN
terests of the agricultural classes OF
the county. It has been the means at
least Of stimulating me to greater
effort, and I think I can promise a
much better exhibit another year.
Yours respectfully,
Allan Rodgers.
The Ocala evening star. [volume] (Ocala, Fla.) 1895-1943, 1918-01-07
TOO MUCH TROUBLE
Overburdened by Her Responsible
ties, Sumter County Girl
Gave Up
Bushnell Tirnes)


One of the saddest tragedies that
even took place in this county was
that of the lintimely end of Miss Lii
lie Hanson Wednesday of last week.
Miss Hanson was a young lady of
about sixteen years living with her
father, Mr.. G. A. Hanson, her broth
er, who is young man, and five
smaller children, at their home about
three or four miles west of Bushnell.
On last Wednesday morning she
put strichnine in an egg and ate the
egg in the presence of her younger
brothers and sisters and then told
them she would soon be dead, that she
had taken poison. She then started
from the kitchen to her room but
fell on, the porch between the room
and kitchen, and before a doctor could
be called she was dead.
No one had in the least suspected
that the girl was not happy She had
been taking care of her little broth
ers and sisters and keeping house for
her father and brother since the death
of her mother last year. She gave
her whole time to the care of the lit
tie ones and the keeping of the home
for father and brother.
The funeral services were held
Thursday morning at Pleasant Hili
church, and a large number were
present to pay the last tribute of love
and affectio nto the unfortunate girl.