davidaulloa/AmericanStories huggingface dataset:
The Clay City times. [volume] (Clay City, Ky.) 1901-current, 1918-05-02

FOR SALE-House and acres of
land near Waltersville with harm and
other outbuildings. Splendid range for
chickens. WIN. Smethers, 1000 Bob
lander ave, Dayton, o.
The Clay City times. [volume] (Clay City, Ky.) 1901-current, 1918-05-02

FOR SALE-Splendid saddle mare,
seven years old. s. L. Wetherholt,
Vaughn's Mill, Ky.
The Clay City times. [volume] (Clay City, Ky.) 1901-current, 1918-05-02
Classified Advertisements.

FOR SALE-House and two lots in
central part of town. Good business
house and necessary outbuildings on
one lot. Mrs. NJ. Rose, Clay City, Ky.
Ia
New-York tribune., 1918-08-01
War Steel Demand
Reducing Supply
For Business Use
Steel Corporations Wage In.
crease Adds to Problem
of Small Producers

The whole tenor of the talk. at ths
conference held this week in New York
between directors of government Shin
building, steel manufacturers and the
director of steel supply was, "The Iron
Age" says, that the war demand for
steel is increasing and with it an in
definite but inevitable reduction in ths
amount available for other uses.
The large schedules of steeb for di-
rect and indirect war needs give weight
to the claim still widely made that all
governmental agencies concerned have
put their requirements at top figures.
IN spite of repeated requests for prun-
ing. In short, if deliveries meet sched-
ule figures. it is believed the reservoir
would be an everything one, unless the
talked OF railroad breakdown should be
really serious. The half years demand
for shell steel has risen to 100000
tons, requiring shipment rate prob
ably 15 per cent above that now OBJ
tanning, and the plate total is close to
theoretical capacity and about IL per
cent more than the recent record out
puts.
The 10 per cent wage increase was q
surprise to Independent companies,
from which like action may be expected
as heretofore. The Steel Corporation
pace of wage increase adds to the prob
lem of some small producers. who are
plnched by government prices on which
the corporation can make large profits
New-York tribune., 1918-08-01
Rail Dividend Delay
Owing to Federal
Regime Pay Dispute
Wabash Directors Postpone
Action; B. & O. Defer Dis
bursenent on Common

Failure of the railroads and the rail-
road administration to arrive at salts
factory basis Of compensation for the
use of the carriers during the period Of
Federal control resulted yesterday in
two companies deferring action on
their dividends. The Wabash Railway
Company announced that the regular
disbursement due on the preferred
stock A had been postponed. Direct
ors of the Baltimore & Ohio Railroad
took no action on the common stock
dividend of that company.
A statement issued by w. H. Will
Jams, chairman of the Wabash board
said: "In the matter of the dividend
upon the profit sharing preferred stock
A of the Wabash Railway Company,
the director general has concluded to
defer action until the amount Of COM
pensatlon the government will pay for
the use of the property shall have been
definitely determined and the contract
with the government shall have been
executed"
The board Of directors Of the Balti-
more & Ohio decided it best to defer
action on the common stock dividend
pending settlement of the question of
compensation. The regular semi-an-
nual dividend of per cent was de-
clared on the preferred.
New-York tribune., 1918-08-01
Corporate Returns

Illinois Traction Company.-State-
ment of operations for June shows
gross earnings amounting to $1,15O, ,237,
which compare with $1,5O7 ,635 for the
corresponding month Of last year. Ex-
penses and taxes totalled $841 ,063, COM
pared with $727,778 for the same period
of the preceding year. Net earnings
tor the month were S309,174, against
S329.S57 for June of last year. Gross
earnings for the first six months of
the current year amounted to S7,O94,-
14o, compared with $6,4s9,460 for the
same months of 1917. After expenses
and taxes of $5,113,261, net earnings
for the period were S1,oS0,879.
Dayton Power and Light Company
Gross earnings for the first half of
I9lo totalled 1,121,3 1927, compared with
$s9S,391 for the corresponding period
of the year previous. Operating ex-
penses, including depreciation and
taxes, amounted to s794,612, leaving net
earnings of $326,715, which compare
with S2S7796 for the same months of
1917. Other income was s14,4O4, bring
ing the total income to $341, ,119. Total
deductions from this amount were
S290864, against $152,431 for the six
months period ended June 80 Of last
year Dividends paid on the preferred
stock during this period were s98,875.
the same amount paid during the cor
responding months of the previous
year. Surplus for the half wear
totalled 1880.
, Mahoning Coal Railroad Company
Report for the year ended December
81, 1917. discloses total income Of
$,l,744,372, compared with S1,594,41O for
the preceding year. Total deductions
amounted to $1,071,527, which com
pares with $861,071 for the year be-
tore tore Surplus totalled s672,845, against
S'33,35e for the previous year
American Stores Company.-Sales
for the six months ended June 30 lasr
amounted am to $3o,475,811, compared with
$27,247, 900 for the corresponding
months m mt Of last year, an Increase Of
New-York tribune., 1918-08-01
Pay Increase Cuts
June Rail Earnings
Higher Wages for Half Year
Charged Against One
Month

Earning statements covering June
operations were issued yesterday by
number Of the larger railroads of the
United States, and in every instance
heavy deficits were reported. Railroad
men explained that the remarkable fall
in net revenues for the month WAS due
to the fact that the increase in wages
granted to railroad employees recently,
effective from the beginning of the
year. had been charged in full for the
six months period against the June
earnings.
The New York Central Railroad re-
ported June gross revenues of $685.
o74,699, an increase of S2,312 ,465, COM
pared with the corresponding month
OF 1917. But owing to the heavy wage
charge there was net operating de-
ticit of $5,723,275, compared with q
surplus Of $5,6S3,39O.
The Chicago, Milwaukee St. Paul
showed net operating deficit of $3,-
163, 1868, compared with a surplus Of
S2179,748 in June last year. St. Paul's
June gross revenues aggregated S1O,-
617,493, an increase Of $1,206,926 over
year ago.
In the case of the Norfolk & West
and other charges of S926,36O, COM
pared with a surplus of s1,758,0oS in
June of last year Total operating
revenues of the road increased $1,133,-
178 in June to $6,726527.
The statement of the Baltimore e.
Ohio Railroad disclosed net operat-
ing deficit for June of S2,6S8,472, COM
pared with surplus of S2,144,176 in
the corresponding month of last year
This roads gross revenues increased
S3,58o.0 .07S to $14,852,852 during the
month.
According to the report of the South
ern Pacific Company, there was a net
operating deficit of s1,29O733, com
pared with a surplus of s4,559 ,4S4 in
June, 1917. Total operating revenues
of the road increased $635,302, COM
pared with last year. amounting to
S12,713,124 for the month.
The Erie Railroad reported a net
operating deficit of s3,03o,363, against
a surplus of $1,331 1898 in June of last
wear
New-York tribune., 1918-08-01
News Digest
Foreign

London Market Firmer.-LONDON,
July 31.--Public dealings in the Stock
Exchange were slightly increased to-
day, and the larger buying orders
found stocks scarce and resulted in
greatner frmness. Consols and allied
stocks, especially Russian securities
and the issues of oil, rubber and min
ing companies, were steady, but ship
ping stocks and Argentine securities
were irregular. Government disburse-
ments increased the. supply of money
Discounts were quiet and short time
bills were in demand.
Paris Market Active.-PARIS, July
31.-Trading was active on the Bourse
to-day Three per cent rentes sold at
81 francs IS centimes for cash; ex-
change on London was 27 francs 1919
centimes; per cent Joan brought 88
francs Is confines.
New-York tribune., 1918-08-01
Road Reports Record Gross

Gross operating revenues of the
Toledo, St: Louis & Western Railroad
Company increased s1,082,675, or 1917
per cent, in 1917, compared with 1916,
according to the annual report issued
TO the stockholders yesterday. The
total gross of S7,041 1852 was the larg-
est in the history of the road. Ex-
penses increased sharply, however,
jumping from s3,828,805 in 1916 to
$5,023,862 in 1917. Net revenue ag-
gregated S2,017 800, compared with
$2,126,1s2 in 1917.
The report says that the cost of ma
terials and supplies of all kinds, in
cluding stationery, has increased enor-
mously and that this is reflected in
the administration expense of all de-
partments.
New-York tribune., 1918-08-01
Canada May Fix
Price for Entire
New Wheat Crop
Government Officials, Bank
'ng' Grain and Milling Men
Confer at Ottawa

OTTAWA, July 31.--Indication that
fixed price for the entire new wheat
crop will be adopted in the Dominion
was given to-day after a conference Of
gram, milling and banking interests
With Sir Thomas White, Minister of
Finance, and Sir T. A. Crear, Minister of
Agriculture. 1t was announced that
the Grain Commission would take the
question under immediate considera-
tion.
To give financial and commercial sta
blity to the grain situation. it was
stated, guaranteed prices we're advo-
Gated by the conferrees. This, it was
pointed out, would facilitate extension
of credit to grain and elevator firms
and encourage prompt buying Of the
seasons yield.
New-York tribune., 1918-08-01
D. & r. G.. Gets Advance

Approximately s1,ooo,ooo has been
advanced to the Denver & Rio Grande
Railroad Company by the United States
government to NEE the interest due to-
day on the first and funding per cent
bonds of the road, and also to COM
plete the sinking fund payment under
that mortgage. The money has been
deposited with the Bankers Trust
Company as trustee.
1t was announced that the advance
made by the government does not take
the form of loan, but an advance of
rentals due the government under
it's operation of the railroad
New-York tribune., 1918-08-01
FINANCIAL MEETINGS

NOTICE Is HEREBY GIVEN THAT A
special meeting OF the stockholders OF
AUTO PAPER FEEDER COMPANY Will
be held at Room sci. 10 Cedar Street. New
York City, on the 9th day OF August. 1913.
at 1890 A. NJ. to take such action as tho
stockholders may determine with reference
to % increasing It's capital stock from
500. 900, consisting OF 1000 shares OF the
par value OF 500 each. TO $500 shares OF
stock without nominal or par value: CD
amending its certificate OF Incorporation to
provide for the issuance OF the above
shares OF stock without nominal par
value In leu of tho present provisions
thereof, CD authorizing the issuance OF
one share OF tho new stock for one share
Of the old stock; and C4) transacting such
other business may properly come be-
fore tho said meeting.
Dated July 24th, 1918.
CARL s. HANAU. President
II. A. ROSENBERG, Secretary
New-York tribune., 1918-08-01
COUPONS
WinsIow, Lanier & Co.
SO CEDAR STREET
NEW YORK
COUPONS

THE FOLLOWING COUPONS AND
DIVIDENDS ARE PAYABLE AT OUR
BANKING HOUSE DURING THE MONTH
OF AUGUST. 1918:
AUGUST I, 1918.
Cleveland Akron b Columbus Ry Co, Coma
Mtge. Is.
Cleveland Pittsburgh r R Co. Gen. Mtgc
Series D.
Marion County. Indiana Bridge Bonds
Massillon & Cleveland K h Co. quarterly divf-
dend go.
Portsmouth. Ohio. Street Improvement Bonds.
Wheeling Terminal Ry. Co LIST Mge Is.
New-York tribune., 1918-08-01
Money and Credit

Conditions in tho money market
were unchanged yesterday. Rates for
call funds were firm at 6 to 6h per
cent, with slightly easier tone at the
close.
Offerings Of fixed date funds were
much restricted, although the demand
continues fairly heavy. Borrowers arc
bidding 6 per cent for loans Of all dates
ON both mixed and industrial col
lateral.
A banker expressed the opinion yes-
terday that little increase in offerings
OF fixed date funds can be looked for
In the future. "Undcr present unccr-
tain conditions" he said, at is not tho
desire OF banks TO place funds except
e1 call. Call money answers the same
purpose. The rate for time money is
now thA sAnaa ~ that for call suonax.
New-York tribune., 1918-08-01
New York

Change Of Firm Name.-The name of
the New York Stock Exchange firm of
William Morris Imbrie g. Co. has been
changed to Imbrie & Co., and the firm
has added a department of commercial
banking, under the supervision Of the
New York State Banking Department,
to its business. The old firm was es-
tablished in 1882. There are no
changes in the membership of the new
firm.
New-York tribune., 1918-08-01
Elections

Samuel Rea has been elected presi-
dent Of the Long Island Railroad Com
pany and Henry Tatnall was elected
vice-president and treasurer. A. j.
County was also elected vice-prcsi-
dent and will act as controller.
Lewis Nelson was appointed secretary
Of tho road and Thomas w. Hulme will
act as real estate agent
John II. McRcynolds has been elected
to membership in the Chicago Board
ea Trade.
New-York tribune., 1918-08-01
The Baltimore & Ohio Railroad Co.

OFFICE OF THE SECRETARY.
Baltimore. Nd. July 81. 1918.
The Board OF Directors this day declared
from the net earnings of the Company FOR
the six months ending june 80. 1918,
dividend OF Two CD Per Cent. the Pre-
ferred Stock of the Company. payable Sep.
temher 8. 1918 TO the stockholders OF
record at the close Of business on August
10. 1913.
The transfer books will NOT close.
Q. W. MOOLFORp. Secretary.
New-York tribune., 1918-08-01
Relevant Comment
August Disbursements

August interest and dividend dis
bursements will aggregate $4,000, ,438,
according to the compilation Of the
Journal of Commerce. This compares
with total of S159,948,375 in August
last year. Stockholders will receive in
the form Of dividends approximately
s75,OOO,OOO, a decrease of $4,25l, 900
compared with last year. Interest
payments will aproximpate sS4,5O0, 900,
against SS1,200,OOO in August, 1917.
During the month interest is due on
the United Kingdom of Great Britain
and Ireland 5l3 per cent gold notes of
1919, the American Foreign Securities
8 per cent gold notes, and the Domin-
ion of Canada per cent loan of 1919.
New-York tribune., 1918-08-01
UNITED DRUG COMPANY

Second Preferred stock Dividend No. 10.
The Directors of United Drug Co havs
declared a regular quarterly dividend OF
flAGe on the second preferred stock of
United Drug Co.. payable september 3.
1915
JAMES c. MCCORMICK. Treasurer.
Boston, July 25. 1918.
New-York tribune., 1918-08-01
The Dollar In Foreign Exchange

Dull conditions again existed in the
foreign exchange market yesterday.
Quotations on most exchanges re-
manned unchanged and the few fuctua-
tions that were registered were narrow.
Rates on London and Paris remained
steady.
Closing rates yesterday, compared
with a week ago, follow:
Quoted dollars to the pound)
New-York tribune., 1918-08-01

The above rates express the cost of
foreign money in terms of the Ameri-
can dollar. You buy an English pound
sterling at, say. s4.7535. The intrinsic
parity is $4.86ss 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 10
greater than the demand in this coun-
try for pounds with which to settle ac-
counts in England.
New-York tribune., 1918-08-01
STANDARD MILLING COMPANY

PREFERRED STOCK DIVIDEND NO. 81
New York City. July oath. 1919,
The Board OF Directors of Standard MIL
ing Company have this day declared =
quarterly dividend OF One and One-Han
Per Cent. Il So upon the Preferred STOCK
OF tt.s Company. payable out Of the earn
ings for the current fiscal year on Aususss
Sfst. l91S. to Preferred Stockholders o.
record at the close OF business on Ausu''
21st. 1913.
New-York tribune., 1918-08-01

Finance = Economics
Telephone
Hanover 6S1A

6 per cent. So what difference does it
make to the borrower whether he
finances his commitments with day-to-
day accommo modations or time loans, as
long as the money is always avail
able? ?"
Ruling rates for money yesterday
compared with year ago, we're as
follows:
Yesterday. Year ago.
Per cent. Per cent.
Call money:
On mixed collateral 6 2H
On industrial colt1 6Ia 3
Time money (mixed collatcraD:
Sixty days. 6 4H
Ninety days...... 6 42@434
-Four months. 6 4H@4al
Five to six months 6 4a4@5Ia
Commercial Paper.-A moderate vol
per cent for four to six months ma
turtles.
Bank Acceptances.-There is g bet
ter demand for bank acceptances.
Rates were unchanged yesterday as
follows:
Thirty Sixty Ninety
Spot de- days. days. days.
livery: Per cent. Per cent. Per cent
E gible
m m ber
banks. -. .4h@4 4h@4M 4h@4M
e gibls
nOn-mem-
Der banks.4A@4}s 4a5@4h 42a@4h
n eligible
bank bills.5A@424 5I4@4s4 5M@4M
For delivery within thirty days:
Per cent,
Eligible member banks ........ ~
Eligible non-member banks..... A.. 4sz
Ineligible bank hills. ls............
Discount Rates.-The 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., 1918-08-01
STANDARD MILLING COMPANY
Mall Gfvee,

COMMON STOCK DIVIDEND NO !.
y. Y. City. July gath. lsls.,
The fourth installment OF Two Per Cehs
(2ec) Oeo In Cash and 1eo Stock) OF ~ ~
Eight Per Cent. $50 dividend upon tns
Common Stock OF the standard Manas Miii,ns
Company, which was declared on octous..
24th, 1917. will be payable on Aueust
s1st, 1918. to the Common Stockholders q
record at tho close OF business on Aus"''
2lst. 1913 "a
Checks and certificates will be mailed.
los A kNO\. Treasuret'
New-York tribune., 1918-08-01

Bank Clearings.--Bank clearings in
New York yesterday were as follows:
Exchanges. Balances.
New York. 80. .$521, ,es5,0eo s4e,oe4,eo6
Baltimore 80. 1o,241,112 2,724,0So
Boston ....... 43,24o,078 6,101,992
Philadelphia :. 62,517,63O 11,726,116
ub-Treasury.-The banks gained
$4,000 from the Sub-Treasury yes
terday.
Silyer.-Bar silver in London was
4S{sd. unchanged; New York, 999sc,
unchanged; Mexican dollars, TIC. un-
changed.
London Money Rates.-LONDON,
July 31.-Money was unchanged at
per cent. Discount rates were: Short
bills and three months bills 1882
pcr cent. Gold premiums at Lisbon
remained at 10000.
New-York tribune., 1918-08-01

Reserve Bank rate. 1878 1878
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., 1918-08-01
July 30, 1913
UNITED STATES
STEAMSHIP COMPANY.

A regular dividend Of one per cent. and
an extra dividend of one-half OF one per
cent. has been declared the Capital
3D. 1918. to stockholders OF record at the
close of business August 18th, 1918.
y. II. CAMPBELL, Treasurer.
New-York tribune., 1918-08-01
Liquidating the Liquor Trade

Trade estimate Of the stock Of do
mestic potable spirits in bond in the
United States show 140,000,000 gallons,
says the American Exchange National
Bank in discussing the problems of
liquidating the industry. This liquor,
mostly whiskey, was worth from forty
to: sixty cents gallon in bond last
year, before Congress began to dis
cuss the suspension Of distillation Of
pirits for beverage purposes. When
It's manufacture ceased the price of
whiskey in bond shot up to S3.10 a
gallon. to which was added the revenue
tax Of $500 gallon, making the
wholesale price IF free whiskey $3.50
gallon. A few weeks ago the price
in bond dropped to about s1.50 a gal
lon, owing to the fear of prohibition
at an early date
New-York tribune., 1918-08-01

GENERAL CHEMICAL COMPANY;
25 Broad Street. New York, July 20, ami,
A Quarterly Dividend of two PEI, s Is
t2r.) will be paid September 3, 1919 n
Common Stockholders OF record at j r. -
August 81, 1918. -~a
New-York tribune., 1918-08-01
Banks Hold "Whiskey Paper"

"Banks hold large amount Of whis-
key paper" says the American Ex-
change National, "but' have not over
loaned on spirits and will lose nothing
II the time for its disposal is limited
to six months. Kentucky alone would
require $250,000,000 of the total $448,-
100000. The result would be a large
unsold stock at the end Of six months
which the Government would probably
take over at fair valuation, in which
event the Federal Treasury would have
to meet an outlay instead Of receiving
a large revenue. Distillers and whole
salers are In position to offer ample
security for tax loans in addition to
their warehouse receipts. Banks would
run no financial risk, but they could
not carry the whiskey and lend money
to the Government at the same time.
The burden would be too great, and
they might be forced to restrict loans
TO other customers Banks and dis
tillers have set their houses in order.
For them 1t is question Of more or
less profit, but the Federal Government
faces the loss OF. hundreds Of millions
OF dollars of revenue If this stock Of
spirits is not marketed tax-paid before
prohibition comes into effect"
New-York tribune., 1918-08-01
War Copper Consumption

According to an estimate made in the
trade yesterday, approximately 95 per
cent Of the copper produced in the
country Is to-day being used for war
purposes, directly and Indirectly. For
NAL report to this effect is being made
by the producers on blanks which the
government, by recent order, requires
them to fill out monthly. On these
blanks, statements must be made by
each producer of the relative proper
tions of his total output which are
used, respectively, for: first, war pur-
poses directly; second, war purposes
indirectly; third, work Of exceptional
or national Importance, not necessarily
connected with the war; fourth, for ali
other purposes. 1t is explained that
under the heading "wo-k OF exceptional
or national Importance" is 10 be in
cluded copper used for railroads or
important public utilities.
New-York tribune., 1918-08-01
Steel Common Disappofnts

Tho action Of Steel common was
about the only interesting thing in the
stock market yesterday. Steel started
of with an advance Of about a point,
but subsequently sagged OFF, to the dis
appointment of market observers. who
had looked for rousing response to
the brilliant earning statement issued
Tuesdny. However, after the forenoon
sales had been absorbed, Steel forged
ahead slowly and, finally, in tho after
noon, touched 109A, an advance of
~ points from the close Of the day
before. Toward the close IL yielded
fractionally, leaving OH at 1921 for a
net gain Of III points. One Stock Ex-
change house was reported 70 have
sold 1900 sheres of Steel during the
day The t6;al transactions In the
markets leader aggregated approx.
~Assly A9ss0oo shaxsss
New-York tribune., 1918-08-01

Discount Rates.-The following table
gives the current rates of the twelve
Federal Reserve banks on commercial
paper on all periods up to ninety days:
The Brattleboro daily reformer. (Brattleboro, Vt.) 1913-1955, 1918-02-15
TOWNSHEND.

Rev. j. R. Lawrence is spending the
week away from home
". NJ. Sparks and son, Merrill, were
IN Brattleboro Wednesday.
Olive Marsh has been out of school
several days on account of illness.
Mr. and Mrs. Robert Cushman of New
York recently visited at J. H Wares.
Mrs. Edith Lowe of Brattleboro is a
visitor of her parents, Mr.. and Mrs. E.
B. Batchelder.
Mrs. ". NJ Sparks, president of the
Red Cross society. sent in five more Quilts
Wednesday, making l6 finished and sent
in
There will be meeting at Mrs W. NJ
Sparks next Tuesday evening to fold sur.
gical dressings. A report of the Mary
meeting will be made
At the Red Cross meeting last Wednes
day several hospital shirts were made and
work was done on other articles. There
will be a meeting next Wednesday at
the same place