davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1918-10-03
1t works like this:

There is labor shortage. But
the shortage of labor means merely
shortage of goods. Inevitably you
are consumer. If you are not also
producer there is so much the less
for citizen consumption and for the
government. You are a subtrahend.
If you produce as much as you con-
sumo you do no net harm and no
good. If you produce more than
you consume there is so much left
for other consumption-for your
fellowcitizens and the government
to buy and to consume. Selling more
than you buy, you retard the rise in
prices. If also you lend your saw
ings to the government or pay taxes
you enable the government to pur-
chase in your stead without pushing
up the prices. 1t buys away from
other citizens the equivalent of the
goods which you refrain from con-
suming
To save in time Of shortage is,
tnen, a service to your fellow-citi-
zens and to the government. But
when also you assign your savings
to the government you transfer to
it the means of turning your saw
ings to it's exclusive benefit. 1t gets
the goods away from competing
consumers.
Thus your merit is threcfold,
your service twofold. Being pro-
ducer, you are not an incubus,
0ead weight, burden. Producing
more than you consume, you help
the country in the aggregate. Per-
hitting the government to buy in
YOUR stead. your help goes neither
to parasites nor to the consuming
public in general, but only to the
government. Your service is COM
plete
Therefore buy Liberty bonds and
l,ay for them with the money saved
ty reducing your consumption of all
but the necessities of life.
New-York tribune., 1918-10-03
Cotton Crop Will
Be 11,8l8,000 Bales
Govt Estimates
Report Promises Yield of
1000 Bales Above
Estimate Month Ago

WASHINGTON, Oct. 2.--This year
cotton crop was estimated at 11,81S,0O0
bales by the Department Of Agriculture
to-day, basing its estimate on the con-
d;tion of the crop on September %,
which was 54.4 per cent of normal De
spite the condition and yield estimates,
the department indicated a crop 631 900
bales larger than it counted on a year
ago.
decrease, however, was shown in
the condition of the crop on September
%, compared with the corresponding
date of the preceding month, when the
estimate WIS 55.7 per cent of normal.
The indicated acreage yield on Sep
tcmber 20 was 154.1, contrasted with
lo9., year ago.
This. years crop, which early gave
promise of record production, was
dIsastrously affected by drouth during
July and August. Planted on 37,o73 900
acres, G.2 per cent more than the area
IN 1917, the June canvass showed a
Production Of 1,325.000 bales A loss
of 100000 bales was revealed by the
July % report, and still heavier loss
resulted from the weather conditions in
July, amounting to 2,4S2,00O bales. The
earlier estimate OF production was re-
duced to 11,137,0o0 bales at the end
Of August
New-York tribune., 1918-10-03
News Digest
Foreign

London Market Buoyant.-LONDON
Get 2.--The possibilities arising out
OF the present war situation increased
the buoyancy of the markets generally
on the Stock Exchange to-day. Con-
soils proved the bright spot, advancing
l per cent, while other gilt-edge Sc
curlties and Russian and French bonds
were prominent. Russian oils and mines
and Rumanian oils continued active
features. Many hitherto neglected
speculative shares arc being given in
creasing attention. The market all
around closed confident. Munition
stocks were easy.
The money market benefited by the
distribution of f21 100000 of war bond
dividends, which it is expected will be
largely reinvested. A sharp improve
ment was noted in most of the Central
European stocks, due to buying for
neutral account. Bulgarian bonds were
5points higher.
Dollars Higher in Amsterdam
AMSTERDAM, Oct. 2.-Extensive buv-
ing continued on the Stock Exchange
here to-day. All foreign currency rates
again moved up rapidly. The pound
sterling made a record jump for one
Gay. The dollar advanced from 2.12
to 2.20.
New-York tribune., 1918-10-03

If statistical record were avail
able it would probably show that
since the money committee acted to
curtail Stock Exchange loans there
really has been very considerable
expansion in the aggregate amount
utilized for carrying stocks. The in
crease has been obtained in this
way: Many brokers have, by vari-
Gus devices, kept their loans up to
the amount outstanding when the
restrictions were imposed, because
they fear that if they should pay
them off it would be difficult, if not
impossible, to obtain the funds
again when needed. At the same
time some of the customers of lead
ing brokerage houses have taken up
their stocks and financed the carry
ing of them by loans obtained di-
rectly from the banks. Thus, while
the amount of brokers' loans out
standing may not have increased
materially, in spite of the recent
outhurst of activity, there has been
considerable expansion of collateral
loans to individuals, really for spec
ulative uses. To the extent that this
las taken place the restrictions i'm
posed for the purpose of conserving
credit for essentials have been de-
1eated.
New-York tribune., 1918-10-03
Corporate Returns

Amoskcag Manufacturing Company.
Sales for the year ended June 80
were $49, ,45S,0S1, which compares with
$30,449,214 for the year previous. Cost of
manufacturing totalled S43 ,922, 1856, an
increase of $lA,353,584. Dividends paid
amounted to S1,036,800, the same as
last year. Surplus was s4.O15,8S1.
United Railways Investment Com
pany.- income for the fiscal year
ended June so amounted to 81 ,7O3, ,50S,
which compares with $1,891 ,5S3 for the
preceding year. Expenses, taxes, etc,
amounted to S9O,27O, and other charges
were 81 ,613 ,23s. Profit and loss surplus
was $7,264, ,235, compared with 81 .O55, ,715
at the end of the previous fiscal year.
Philadelphia Company. Annual re-
port for the year ended March 81 dis
closes gross earnings of 1882 ,44O,
from which operating expenses of So
C22.0O9 and taxes of $3.50 ,96l were de-
Quoted, leaving net earnings of So
4oO,470. Other income was $2,724.OS7.
b1lnglng the total income to SS,l74,55S.
Fixed charges of $2.13I 1868 and other
deductions Of Sl,652,2l6 were made,
leaving net income of $4,14O,115.
Equitable Coke Company. = Gross
earnings for the year ended March 81
were S1,695,34S. Operating expenses
totallcd $731,7S4 and taxes amounted
to S24 ,991. Other income added to net
earnings of S721 ,573 was $30.479 Net
iHcome for the year was S677,2Sl after
deducting all fixed charges.
Duqucsne Light Company. - State
ment of operations for the year ended
March 81 shows gross earnings amount
ing to $9,S42395. Operating expenses
totaled S6,384. .526 and taxes were
S71S,2S6. Other income of S1O2,571
was added to the net of S2,7O9 ,582, m mak-
ing a total income Of $2,S12.153. Net
income was Sl,644,29G Gross surplus
was $2.974,9 from which deductions
CT S414,5O3 for preferred dividends,
81 .157 1863 for common dividends and
$500 for securities written off we're
made. Surplus at the end of March,
1918, totallcd $1,094,25S.
Allegheny County Steam Heating
COMPANY Gross earnings for the year
ended March 81 was $1OO,463.
Poole Engineering and Machine Com
pany of Maryland. = Operating income
for the year ended June 80 was S674,-
514, decrease Of $1,6O5,264 from the
year before. Taxes amounted to S55,-
4O5, compared with S337 POL. Dividends
paid during the year totalled $3.50, 900.
q decrease Of $4,000. Surplus was
S439, ,109 against 81 687,315 for the pre-
ceding year.
Pittsburgh Railways Company.-Re
port for the year ended March 81 dis
closes gross earnings of $13, TAI.
New-York tribune., 1918-10-03
n Wealth Markets and Commerce
Behind the Bonds
BY Charles III. Sabin

President OF the Guaranty Trust Company of New York
THE first and most consideration
tive investor to determine the value and character of the
security behind the bonds he buys regardless their yield
because the American public the half has
educated that principle
the fourth Liberty Loan will follow the precedent the first
three loans and be oversubscribcd
Behind Liberty bond the and valu
able the world including this nations income
it's total wealth. it's unprecedented crops agricultural prod
of all descriptions it's industrial
ganization its vast and unequaled
Our national income, estimated $50OOO year
larger than that of other naon national wealth,
pued to be 00O far exceeds that other people,
agricultural products valued $1950OOOO00O 1917
and will be worth this year.
Even the most casual perusa Of these striking
convince that not only Liberty bonds the safest
offered but they bound appreciate
value when the released
srctons, flows freely the Market seeking
obtainable States
bonds which offered for
New-York tribune., 1918-10-03
Dividends
Extras

Extras
Union Trust Company of Pittsburgh.
An extra dividend of 10 per cent, in
addition to the regular dividend of 25
per cent, both payable October / to
stockholders Of record September 20.
Regular Declarations
Brooklyn City Railroad Company.-Quar
ber 10 to stockholders of record October .
Midvalc Steel and Ordnance Company
Quarterly dividend of Sl.50 per share pay
October Is.
Seamans Oil Company.-Qu Quarterly dividend
OF ) per cent. payable September SO to stock
holders of record September IS.
United Cigar Stores Company Quarterly
dividend of 2h per cent on the common
stock, payable November 10 to stockholders
of record October so.
United Coal Corporation Quarterly dv-
dend of "A per cent on the preferred stock,
payable October 25 to stockholders of record
October Is.
Midwest Refining Company. Quarterly
dividend of 81 per share. payable November
| to stockholders of record October Is.
American Light and Regular
quarterly cash dividends of / x per cent on
stock, in addition to the regular quarterly
stock dividend of 2l4 shares of common stock
every 100 shares outstanding, all payable
November |
Austin Nichols & Co.-Quarterly dividend
cf 4I per cent the preferred stock pay
able November to stockholders of record
October -.
New-York tribune., 1918-10-03
Rise in Russian Bonds
External 6 LIS Score Advance
in This Market of 41-2
Points

External bonds of the imperial Rus
sian government took on pronounced
strength in this market yesterday. The
612 per cent loan sold on the Curb
market from 81 z to G6 on dealings of
$2oopoo, the latter high record price
Tor the recovery, and closed at IS. Re-
Gently these bonds We're selling in the
market at 80. The 5'2 per cent bonds
rose from 81 to 581$.
In the financial circles the striking
advance scored in these bonds, particu-
larly the Gas. was attributed to the
favorable character of the war news
and unofficial reports that Germany
would evacuate the provinces OF West
ern Russia.
New-York tribune., 1918-10-03
Steel Makers Meet
Pershing's Demand
With Record Speed
Production Accelerated as
Never Before to Supply
Our Armies

The tremendous demands made upon
the iron and steel plants Of the coun-
try by the speeding up of the Ameri
can and Allied war programme arc be-
ing answered in way to astonish
even the industry itself, according to
"Thc Iron Trade Review" "ProdLc-
tion in certain branches" says this
authority, "has been established at a
rate recently believed impossible Of at
tainmcnt. The delivery time for huge
tonnages entering into supplies for the
battle line has been practically cut
IN half, in response to General Per-
shing's advice that the opportunity for
stupcndous military results is at hand
trucks, tanks, rails for military roads.
cranes, portable track work and va
rlOus other essentials of an attacking
and mobile army are now being rushed
through the mills to the exclusion of
less vital necessities"
Among the important developments
of the week as affecting the trade has
been the announcement by the rail
roads of increases in freight rates on
steel and iron products from Pitts
burgh to the East, effective November
!. The new rates on pig iron will be
$3.50 to New York, $500 to Philadcl-
phia, $3.70 to Baltimore and $4.70 to
Boston. The new rates en- steel bilcts
viii be $3.50 to New York and 81 to
Philadelphia.
The general committee of the Amer
lean Iron and Steel Institute has adj
vised its members of special conces-
slons which are to be made on finished
steel sold for the manufacture of agri-
cultural machinery. The concession on
steel bars will amount to SIS ton.
Steel output in September, according
to "Thc Iron Age" exceeded that Of
August. The industry enters October
under generally auspicious conditions.
New-York tribune., 1918-10-03
Japanese Shipping Combine

Japan will soon have another large
shipping firm if negotiations now 90
ing on among the Yamashita, the
Suzuki and the Kuhara companies, all
of Kobe, are favorably concluded. In
preparing for the postbellum trade
these three concerns are negotiating
to consolidate their shipping interests
into one corporation of 30,000,OOO yen
SIS 100000 Owing to differences of
interest that the companies would
have in the proposed amalgamation,
it will be some time before the scheme
is carried out. From the amount of
capital involved, the new firm will
stand fourtl in the list of Japanese
shipping concerns.
New-York tribune., 1918-10-03
Labor Situation
Causes Concern
Pierre Jay Reports Complaint
of Shortage in Manu-
featuring Centres

Pierre Jay. chairman Of the board of
the Federal Reserve Bank of New
York, in his October review of trade
and business conditions in this dis
trict, reports general prosperity in the
industrial field, although the labor
situation is serious.
"Thc labor problem" says Mr.. Jay,
"complicatcd by the extension of the
draft, gives concern TO many interests.
From manufacturing centres both in
the northern part of the district and
in New York city and vicinity, there
Is constant complaint Of shortage Of
unskIllcd and semi-skillcd labor. Com
munlty boards composed Of representa-
tlvcs OF the government, of employers
and employees, respectively, are being
organized in the districts by tho United
States Employment Service, and the
transfer of labor to the moro essential
occupations has already begun"
Attention is called to the fact that
III merchantilc channels there has been
a decided lcsscning of quantity and
uses, and merchants are becoming eau
tious. Sales Of clothing at retail arc
reported as showing the usual seasonal
revival. Chain stores are said to be
prosperous and the mail order business
is reported heavier than last year.
Fully so per cent Of the current pro-
duction of cotton, wool and knit goods
is under government contract, and the
balance, consisting largely Of cotton
materials in process of manufacture, is
not being released by the mills pending
the determination of the new schedule
of prices.
Wholesale dealers in metal products
are reported by Mr.. Jay TO be having
difficulty in rcplcnishinS stocks even
when placed on priority list under
agreement to sell only to concerns en-
CaCed in war work
New-York tribune., 1918-10-03
Relevant Comment
Little New Financing

New financing arranged by American
railroad and industrial corporations in
September approXimated S60,000000.
This, according to "Thc Journal of
Commerce." is the smallest output of
new. capital issues in months and COM
pares with sSO,8O9 900 in the CORE
spending period of 1917. The present
month probably will see even smaller
total, owing to the fact that all priv vate
financing has been postponed until
after tho Liberty Loan operation las
been completed. Municipal financing
in the first nine months of the current
year aggregated $172, ,401 ,448, according
10 "The Bend Buyer compared with
s39S. .559, ,S43 in the corresponding period
nf 1QlL
New-York tribune., 1918-10-03
Cotton Cinned Prior
To Sept. Is Amounted
To 3,719,915 Bales

WASHINGTON, Oct. Cotton
ginned prior to September 25 amounted
TO 3,719,915 bales, counting round as
half bales, and including $1,000 round
bales and 2,1S4 bales of Sea Island cot
ton, the Census Bureau announced to-
day.
Ginnings last year to September %
amounted to 2,5l1 $50 bales, including
cc,510 round bales and 1921 bales of
Sea Island. In 1916 to that date gin
nings were 4,OS1,9S bales. including
S4,S55 round bales and 3f,261 bales OF
Sea Island
New-York tribune., 1918-10-03
Five States Contribute
Two-thirds of Taxes

WASHINGTON, Oct. 3 Five states
New York, Pennsylvania, Illinois, Ohio
and Massachusetts furnished nearly
two-thlrds of the taxes collected by
the government during the fiscal year
ended last June 80 Of the 1854. .7O3.-
334 collected in Federal taxes, these
states gave S2,2S2 100000, or CT per
cent, and of the S2,839 ,083 $50 gath
cred from income and excess profits
taxes, the principal source of revenue,
these states supplied $1,86S 100000 or
50 per cent. From miscellaneous
taxes, SS55,619,T4S was collected in the
whole country
New York paid S839.37S,o 900. of which
S6S9 ,265.O00 was income and excess
profits taxes, or 22 per cent of the
entire nations collections. This was
largely due to the fact that many cor
poratlons with plants scattered through
the country reported earnings from
their New York headquarters.
Income and excess profits taxes in
1918 were 1.9 times greater than in
come taxes in 1917 A table of collcc-
tons from these sources by states in
the two years shows that West Virginia
jumped from $1,921.000 to s45,549. 900,
an increase OF nearly twenty-four
times, proportionately greater than any
other state. Utah stood lowest in the
record of gains, with little less than
twice the 1917 amount.
New York, which showed SO per cent
OF the total income taxes in 1917, re
ported only "a per cent this year.
Pennsylvania collected lis times as
much in 1918 as in 1917. Illinois
showed gain of 1O.5 times, Ohio II
times and Massachusetts 50 times.
Southern states with few exceptions
reported gains exceeding the average
for the whole country.
The Revenue Bureau has not vet
tabulated income and excess profits tax
collections to show separately the
amounts from corporations, partner
ships and individuals.
New-York tribune., 1918-10-03
Midyalc Cooperative Plan Adopted

Officials and employees OF the Midvale
Steel and Ordnance Company will here
after cooperate in the formulation OF
important plans affecting the latter.
according to an announcement made
yesterday following a meeting Of the
board. Details of the so-called bar
gaining agreement may be decided on
tomorrow. The movement on the part
of the Midvalc management to estab
llsh fricndlier relations with the work
ers is regarded as being one Of the
most farreaching labor developments
in the history of the iron and steel in
dustry, and for this reason it is cx-
pccted 20 become general. The war has
created such abnormal conditions, steel
men say, that eventually there will
have to be certain adjustments which
should not be made without harmoni-
ous action between employer and en-
DlOye
New-York tribune., 1918-10-03
The
Universal
Business
Safeguard

Liberty Bonds are the first safe
guard you should provide for your
business. They come ahead of all
other projections your natural
prudence will urge upon you.
The safety of American busi-
ness depends on the winning of
the war. You do not need to be
told what a victorious Germany
would leave of the great fabric of
our finance and manufacture and
distribution.
New-York tribune., 1918-10-03
Anaconda's Output Falls

Output Of the Anaconda Copper Min
ing Company fell off about 100000
pounds in September. the total produc-
ton for the month amounting to 21,-
100000 pounds. Officials Yesterday
attributed the reduction to the labor
difficulties encountered because of the
activities of the |. w. w. in the min
ing district Of Butte. For time in
September the operating force of the
company was cut down to 20 per cent
because of trouble with the miners
New-York tribune., 1918-10-03

The above rates express tie cost OF
foreign money in terms of the Ameri-
can dollar You buy IN English pound
sterling at. sey, s4.7beo. The intrinsic
parity is s4.965s per pound. Thus you
say either that pounds are at 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 Tor pounds with which to settle ac.
counts in ENGLAND.
New-York tribune., 1918-10-03
Maxwell Motors Earnings

II. S. Anderson. a director of the
Maxwell Motors Company, Inc, is cred
tied with the statement that the net
income Of the company for the fiscal
year ended July 81, 1918, before pro
vldlng for excess profits taxes or in
come taxes in excess Of 6 per cent, VIII
be in the neighborhood of $2,40O,OOO.
New-York tribune., 1918-10-03
The Dollar in Foreign Exchange

Neutral exchange rates were steadier
yesterday and the market was .appar-
emily inclined 10 await further develop
ments in the military situation.
Changes in quotations were narrow as
a rule and the turnover of business was
comparatively small. Dutch guildcrs
were lower.
Closing rates yesterday compared
with week ago follow:
Quoted dollars to the pound.>
New-York tribune., 1918-10-03
Coffee Credit Reports

Reports current in the local coffee
trade yesterday were to the effect that
there is under consideration plan for
a substantial advance by the United
States to Brazil for the purpose of
financing an enterprise designed to
stabilize coffee prices. 1t was init
mated that the advance might amount
10 as much as S100,000.OO0. In re-
sponsiblc circles the reports were not
credited
New-York tribune., 1918-10-03
The Golden Rule
for American Business

Buy Liberty Bonds to the ut
most" In buying Liberty Bonds
you arc taking the most elemental,
common-sensc step to protect all
you have and hope to have against
a ruthless and brutal foe.
The success Of our armies in de-
Tending our nation depends on the
success of the Fourth Liberty
Loan. The security is the best in
the world. But it all depends
upon one 7cord-VICTORY.
New-York tribune., 1918-10-03

Operating expenses were SlO,o95 800 and
taxes totallcd s58l ,653, leaving net
earnings of $3,049,1 1888. Total income
was So ,223 ,053 and total deductions from
that amount were $3,0d7,766. Net deficit
after fixed charges was S167 ,666. Deficit
for the year was So70,533.
Republic Railway & Light Company
August gross . $455, ,649 Inc. $1o,53S
Net earnings. 1903. .588 Dec 42,S12
II months gross .. 5,552, 500 Inc. 10Y 1897
Balance ......... 25 1865 Dec 138,141
Central of Georgia Railroad Company
August gross. ..-. $1,8ee, ,066 Inc. $57O,o3e
Net ............. 496.728 Inc 1872, ,53i
months gross. j.. 13.294.581 Inc. 1867 ,238
Net .............. 2,664,8o3 Inc. 1852
Utah Securities Corporation
August gross .,... $572.652 Inc SH,St1
Net earnings ... 287, ,O36 Inc. 3,A98
II months gross. 6,961 ,959 Inc. 724,3a6
Net earnings ... 3,743,709 Inc. 349,75I
Philadelphia Rapid Transit Company
1918 1917.
August gross ....... $2,725.1 1870 s2,436. $50
Surplus ........ 63,5e2 21e,274
months gross. 5,451,453 4.374.O74
Surplus .......... 295,021 415,862
New-York tribune., 1918-10-03
An Indian Sign on the Kaiser
Elections

Clarence S. Skies, former general
auditor OF the Pere Marouctte Rail.
road Company, has been elected vice
ident of that road. NJ Heberd was
appointed secretary and W. L. Martin
treasurer.