davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1918-10-27
Winchester Arms
Reorganization Is
Fully Planned
Approval of Capital Issues
Committee Now
Awaited

A committee of directors Of the VIM
chester Repeating Arms Company, con-
sisting Of Thomas G. Bennett, presi-
dent; George E. Hodson and Jam@ T..
Moran, has prepared plan of recapital-
ization providing for the formation of
new company with S13,000,000 capital
stock, composed of $10,000,000 7 per
cent cumulative first preferred. $1,000
600 e-cumulativc second preferred
and 81 100000 common stock.
These directors announce that the
consummation of the plan is subject
to the approval of the Capital Issues
Committee. In a letter they further
say that majority OF the holders Of
stock row outstanding has already as
scented to the plan. which contemplates
an exchange of s7,300OGO new first
preferrcd stock for the 81 100000 stock
now outstanding.
The remaining s2.500,O00 first pre-
ferred, the $2,000O0O new second pre-
ferred and the new $1,O00,000 common
stock arc TO be turned over to kidder,
Peabody & Co. and associates, in re-
turn for which the company is to re-
ceive S3,500.00O cash for working CAPT
tai. All the voting power of the re-
organized company for the present is
TO be vested in the junior issue. The
first preferred which is callable at
lis, will have voting power when ac
cumulated dividends have exceeded T
per cent.
Pointing out the necessity Of some
means of raising new capital the dl-
rectors assert that "as there seems to
be little likelihood that the company's
normal commercial business can be ma
terially increased after the war, the
company will find itself with a large
plant investment, subjected to taxation
and depreciation, without sufficient
business to carry the various charges"
This situation, it is said, necessitates
the manufacture of new products which
involves learranging machinery, the
sale and distribution Of the products,
all of which requires time and money.
"Therefore it seems inevitable" says
the committee, that unless additional
funds are obtained stockholders will
have to face further deferring of
dividends while earnings are being
used for the development of the new
line of products
According to the committee. part of
the $S,000,000 note issue maturing
March / will be retired from the com
pany's earnings and surplus account.
in addition to this obligation there
are current liabilities aggregating
s9,0O0,O00, of which s4,000,000 repre-
sents an advance from the government
against munition contracts. Stockhold-
ers asserting to the plan of recapitali-
cation are asked to deposit their
holdings before November Is with the
Union and New Haven Trust Company,
Of New Haven.
New-York tribune., 1918-10-27
Coffee Costs u. S.
$113,OOO,OOO Yearly

The average American consumes ten
coffee habit is growing. according to
compilation of facts about the in
dustry by the National City Bank.
During the last five years Americas
taste for coffee has cost on the aver
age S113,0OO,0OO (importers' price,.
Over the same period, an average of
1,175,O0OO0O pounds Of coffee year
have been brought into this country.
The United States government re-
Gently took control of coffee imports.
Brazil is, of course. the worlds chief
coffee producer, supplying, in fact,
nearly three fourths of the coffee of
the world. In the coffee year 10000
Brazil produced II 1,285,0OO bags (of 1872
pounds each) Of the world production
Of 15,07O,00O; in 1911 l0,548,000, out
of the world production of 14,524,000,
and in the coffee year 1917'18. accord
ing to the best estimates now avail
able, Brazil's product was 100000
bags out of world total Of 22,O0O,000,
the 1917-13 crop, both in Brazil and in
the world at large, having been larger
than in the preceding year, except
in 1906-'07 when the worlds total was
-o,ioo,UUU DaSS ana lnat OIL brazil w.
100000 bags.
The United States is entirely de-
pendent upon other countries for
coffee except that supplied by her own
islands. Porto Rico. Hawaii and the
Philippines. The quantity of coffee
sent from Porto Rico to the United
States in the fiscal year 1918 was
256,697 pounds. valued at $4,000, or
an average of about Is cents per
pound, against the average price of
about 9 cents for that brought from
foreign countries. Our own consump-
tion of Porto Rican coffee, however.
is but comparatively small part of
her product, since she sent to foreign
countries in 1918 about 4OOOO,OOO
pounds, most Of it going to Spain and
France, where Porto Rican coffee has
always been popular. We brought
also in 1918 about 100000 pounds of
coffee from the Hawaiian Islands,
valued at S276,000, or an average of
about Is cents per pound; while from
the Philippines the quantity imported
was extremely small, the only record
of coffee imported from these islands
in recent years having been in 1916,
l,2OO pounds. valued at S2O3
New-York tribune., 1918-10-27
1918 Boom Year
In Italian Markets.
Consul Reports
Experts Warn That Crash May
Follow High Security
Prices

Prices hav eswung consistently up-
ward in the Italian financial market
this year, according to report from
Consul North Winship, stationed at
Milan. The rise began in January and
with the exception Of a temporary re-
spite in March continued reach
ing it's highest level in July which is
the last month covered IN the survey.
The highest increases occurred IN
navigation lines. automobile manu-
featuring companies, cotton mills, real
estate companies, chemical and
electrical works. hemp end linen com
range from - per cont to 81 per cent
has called forth warning from
financial observers, whom Consul Win
ship speaks of as follows
Expert financial writers have de-
fined present financial activities as
being exaggerated. feverish, and un-
wise, and as being likely to bring
about losses and disappointments to
capital and to create unnecessary dis
order in The market in the near future
The first half Of this year closed with
low prices for four companies alone,
while all the others showed increases,
some as high as so per cent, the most
remarkable having occurred in the
stocks of the Cotonifcio Veneziano
Venetian Cotton Mills), amounting to
104 per cent"
The following increases beginning
with February and ending with July
are noted: February, per cent;
March, 4 per cent; April, per cent:
May, 10 per cent; June, Is per cent
and July, 80 per cent.
The slight decline in March Mr.. Win
ship says, WAS due to the pessims-
tic feeling that then prevailed in com
mcrcial circles. Such conditions" he
adds, "prevailcd for onI, few weeks:
IN tact. IN April. 1918, prices exceeded
February quotations and in May, 1918.
were still higher. The subsequent
months OF June and July, 1918 we're
by very brisk demand
md exceptionally high prices.
New-York tribune., 1918-10-27
The Money Situation

Prospects of easier money over a
temporary period. bankers say. are
based on the expectation of heavy
redeposits with banks ot government
funds on account of the huge Liberty
Loan payments made last Thursday.
Although only 10 per cent of the &c.
000,000,000 total was due, it is be-
lieved that when the full figures have
been tabulated it will be shown that
large number of subscribers elected
to make their payments in full. From
a stock market point OF view these
conclusions are construed as favor
able. even in the face of the money
committees efforts to check unwar-
ranted speculative activity by raising
the minimum margin requirements on
loans backed by Stock Exchange col
lateral. In some quarters, it was
predicted, that the call money rate
during the next few, days might fan
below the maximum rate Of per cent.
This may have accounted for the re-
ports current yesterday that some
oanks had put out time money for
thirty day period
New-York tribune., 1918-10-27

whose machinery was already in the
field This tract is about forty
miles from the nearest railroad.
During the last month. operations
have been in progress on about 10000
acres on the Fort Peck Reservation in
Northeastern Montana. There are
many stretches where the ploughs can
so two and three miles without turn
AS the land is mostly "dry land" and
unsuitable for winter wheat, half of
the 10000 acres is being prepared for
a spring crop and the other half will
be planted to flax. In the spring
another unit of 1000 acres adjoining
this will be ploughed for sowing to
spring wheat early in 1920.
There is declared to be a fair pros
pect for a total of about $4,000 acres
being under cultivation in 1920.
New-York tribune., 1918-10-27
Investment Outlook Favorable

Investment bankers are optimistic
concerning the corporate financing
problem which must be faced over
the next few months. The case with
which the S25,0OO,o00 serial : per cent
notes of the American Tobacco Com
pany were ovcrsubscribcd last week
was considered as most encouraging.
1t was stated that the amount of the
oversubscription was seven or eight
times the total of the offering, one
house reporting that its subscriptions
alone more than covered the issue.
New-York tribune., 1918-10-27
News Digest
New York
National City Company Prom

National City Company Promotions.
The National City Company ycster-
day announced the promotion of three
district sales managers to be assistant
vlce-presidents. They are A. A. Gust
ard, of Philadelphia; s. II. White. Of
Boston. and E. E. Allies, of WASHINGTON
Two new district sales offices have been
created at indianapolis and Hartford
with Burton Haines in charge of the
former and X. G. Herold in charge of
the latter. The annual convention of
the company's managers from the
thirty out-of-town Offices was brought
to close Yesterday at noon.
New-York tribune., 1918-10-27
Out of a Russian Prison

Many of the Commerce Bureaus for
eign representatives have been obliged
to carry on their work under trying
and often dangerous conditions during
the last four years, but the experience
OF Roger +. Simmons, lumber trade
commissioner assigned to Russian ter
ritory before our entrance into the war.
have probably been unique Shortly
after escaping from prison, where he
had been placed under sentence of
death, he wrote n. bureau the follow
ing brief account of the progress of his
lumber investigation while in prison:
"Whllc in prison found .wo learned
ioresters, several sawmill owners, prac-
tcal men. and fcimer member of the
cabinet. Information received was vcry
valuablc.'
This shows an official av;Gitv for
data that speaks for itself Com
D,ercc Reports.
New-York tribune., 1918-10-27
Packers Minimum
On Hogs Increased
Dollar a Hundred
FoodAdministration Grants
Higher Rates as Protec-
tion to Raiser

CHICAGO, Oct. pa minimum Of
prices of hogs for November has been
fixed at $3.50 as the daily average for
packers droves. A minimum of $16.5O
has been fixed for all other hogs ex-
cept hrow-outs, which consist of hogs
under 1870 pounds, stays, boars. sows
and skips.
AS packing house products have been
selling on basis Of $16.5O for hogs,
the announcement to-day of the new
basis for November resulted in & big
jump of prices for pork, lard and ribs.
While the new price basis probably
will mean an advance in the price to
consumers of pork and pork products,
such as ham, bacon and lard, it was
explained that the peace talk, with its
vision of a corn market flooded by low
priced corn from Argentina and South
Africa, had reduced the market price
of that cereal from 25 to 40 cents a
bushel. The consequence of this was
near panic among hog raisers, who
saw similar declines in the prices OF
their market animals and therefore
rushed their stock to market.
The Department of Agriculture, it
was said, had information that where
as supplies of hogs had increased about
per cent over last year, the past
three weeks had seen an increase of
~ per cent in the number Of hogs sent
to The seven leading livestock markets.
Other factors in failure to maintain
the October price basis were given as
curtaiied consumption, due to influenza,
and the reduction Of the packers labor
supply.
Exports of pork products in October
were given as 130,00O,0O0 pounds, as
compared with 52,OOO.0O0 in October,
1917. For November the food admins
tration has ordered exports of no.
100000. These facts were cited as
proof of the necessity of radical meas
ures to maintain the large pork pro-
duction which the food administration
has asked.
WASHINGTON, Oct ga min imum
price for packers drove hogs of S17.5O
hundred pounds was announced to-
day by the food administration, after
conference between the livestock sub
committee of the agricultural advisory
| board which includes members repre-
senting the swine industry, the food
administration and fifty packers. The
following undertaking is given by the
packers:
'In view of the undertakings on the
part of the food administration with
regard to the coordinated purchases Of
( pork products it is agreed that the
packers participating in these orders
I Will undertake not to purchase hogs
for less than the following agreed min
imums for the month of November
/ that is, daily minimum Of $3.50 per
/ hundred pounds on average of packers
( droves, excluding throw outs to be
defined as pigs under 1870 pounds
stays, boars, thin sows and skips.
Further, that no hogs of any kind shall
! be bought except throw outs at less
than S16.50 per hundred pounds, the
average OF packers droves to be con
strued as the average of the total
sales in the market OF all hogs for a
given day. All the above to be based
on Chicago
New-York tribune., 1918-10-27
Relevant Comment
Mexican Situation a Factor

The outstanding feature of yester-
days stock market trading was the
strength displayed by the stocks of
those companies that are expected to
be materially benefited by the reported
improvement in the Mexican situation
Mexican Petroleum outdid its spccracu-
lar performance of Friday~by adding an
additional 12'a points to the preceding
days gaiN. American Smelling and Re-
finng was taken in large blocks, clos
ing UP points at 80, while Southern
Pacific was actively bought, with the
result that the half-day's transactions
saw net advance OF 3ls.
New-York tribune., 1918-10-27
Argentine Wheat Yield
WASHINGTON. Oct Pea deere,

WASHINGTON, Oct. pa decrease
in the estimate of acreage planted in
wheat in Argentina is noted in a re-
port received to-day by the Department
of Commerce from Consul General
William H. Robertson at Buenos Ayres.
The wheat acreage, which has Just
been planted, is estimated al 100000
acres, a decrease of 100000 acres from
last year. The oats acreage in the
South American republic is estimated
at 100000 acres. decrease of 22O.0 900
acres. The total planted to lnseed.
the report said, is estimated at 3,4OO.-
WV Rsrs&. "a la4xsaSs Of $4,000 asyss.
New-York tribune., 1918-10-27
The Day After

The stoidity with which the market
received the action of the mQney COM
mlttee on Friday, as it turned out. was
significant, for Yesterdays exhibition
Of strength led to the inevitable con.
clus'on that the buying on Friday was
better than the selling No doubt vcs
terday's advance was abetted bv tho
closing out of commitments that had
been made the preceding day in the ex
pectation of lower prices.
New-York tribune., 1918-10-27
Money and Credit

The statement issued by the Clearing
House Association yesterday showed an
increase in loans and discounts of
$104, 4,436, 900 during the last week, while
net deposits decreased SAC, $4,000. The
total of loans, discounts and invest
ments was given as $4,770,335 900. EX
CESS reserves increased S104,134,35o.
United States government deposits to
tailed s474,3S1, 900, compared with
sl95,547 600 week ago.
The Federal Reserve Bank of New
York, in its report for the week ending
October &c, showed a total of bills dis
counted and bought of S722,9I3, l42,
against s171 ,0O3,45 the week before.
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.Per cent.
L ig bic
mem ber
banks . .4l4@4 4aa@4l4 42s@4l4
i igible
nOn-mem
Der banks.4l4@4ls 4]s@4hs 4is@4i.
Ineligible
bank blls.5l4 @4s4 5A@4s4 5I4@4s4
For delivery within thirty days:
Per cent.
Eligible member banks. s....... 4H
Eligible non-member banks..... 45s
Disrount Rates-Th,a folIow;no, tah1s
New-York tribune., 1918-10-27

fhe Federal Reserve Bank of New
York has put in force the following
schedule of rediscount rates which ap-
ply to bankers Gcceptances: Maturities
up to Is days. 4 per cent; 10 to so
days, inclusive, AZ per cent; s1 to 30
days, inclusive, 41a per cent.
Bank Clearlngs.-Bank clearings yes
terday in New York and other cities
were:
Exchanges. Balances.
New York =. $6s2,ooe, 1884 sso.s53, $50
Boston ....... 61,754,465 1894 1922
.Silver.-London. 491ad, unchanged;
New York, 1011 1sc, unchanged; Mexican
dollars, 1I13c, unchanged.
Sub-Treasury. The banks gained
Slil 900 from the Sub-Treasury yes
terday.
London Money Market
LONDON. Oct. 20 Money was firm
q per cent Discount rates vc!s:
New-York tribune., 1918-10-27

The above rates express the cost of
foreign money in terms of the Amcr-
can dollar. You buy an English pound
sterling at, say. $l.75l5. The intrinsic
parity is $4.SG's per pound. Thus you
say either that pounds arc 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 for pounds with which to settle
accounts in England
New-York tribune., 1918-10-27

Short and three months bills, 8 1882
per cent. Gold premium at Lisbon WAS
t3O 90
New-York tribune., 1918-10-27

Nominal.
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., 1918-10-27

Discount Rates.-The following table
gives the current rates of the twelve
Federal Reserve banks on commercial
paper for all periods up to ninety days:
New-York tribune., 1918-10-27
arkets and mmerce
Federal Reserve Banks

government
declined
of
to Boards weekly
the
night shown
New-York tribune., 1918-10-27
Little Lost Motion

Twelve miles south of this tract is
Unit No. ., comprising about 5000
acres. Plougning operations began here
in September, but because of the lack
of moisture, were suspended. When
the machinery had all been moved the
rain came, and this is an instance, and
the only instance, where lost motion
has resulted from the company's opera
tions. Eight buildings are erected on
the place and the 5000 acres will be
fitted for fail seeding in 1919. The
''time failure" of this particular piece
of land is pointed to by the corporation
managers as an illustration of what
farming OH 3 large scale and by i'm
proved methods means. Had this
tract been taken by an individual farm
cr he would not have been able,
when the apparent failure of moisture
came, to shift his machinery quickly
to another place.
The Fort Smith Unit comprises about
5000 acres of "dry lands" located on
the upper a'de of the big irrigation
ditch that taps the Big Horn River at
Black Canyon. the entrance to the Big
Horn Mountains. This is deemed suit
able for sprlag sowing and is being
ploughod this fall along with about 3 900
acres of irrigated land of which the
company has obtained control under
spe-leasc arraeCeMsAL With MAa
New-York tribune., 1918-10-27

LONDON, Oct. 20. Money was firm
/, per cent Discount rates ue!a:
The Greenville journal. [volume] (Greenville, Ohio) 1850-1918, 1918-05-02

1t is significant that the obituaries
of Abdul Hamid have been much more.
restrained than would have been the
case if the Red Sultan had departed
this life ii few years ago. The reason
is not that the issues of the war have
swamped interest in the decease of a
depOsed despOt. but that Abdul Hamid
strikes us today as a rather inferior
kind of monster. At the time of his
death he WAS. SO TO speak, only the
go" in the firm of Satan, HOhenZil-
lern & Co. And, if American advices
are to be credited. the senior member
of the partnership has resigned in
favor of Wilhelm. whose modern meth
DDS he is unable to rival.-LOndOn
Globe.
The Greenville journal. [volume] (Greenville, Ohio) 1850-1918, 1918-05-02
ENJOYS ARE RECALLED
Break In Diplomatic Relations Be-
tween Germany and Holland
Is Forecast.

Amsterdam. The Hetvolk an
nounces that the German Minister to
the Netherlands has left The Hague
for Berlin, and that the Dutch Minister
in Germany is on his way from Berlin
to The Hague. Relations between the
two countries became acute when Ger
many sent an ultimatum to Holland,
demanding access to Dutch territory
The recall of the Ministers may indi-
cate that the breaking point is near.
The Berlin correspondent of Nieuwe
Rotterdamsche Courant is informed
by person in authority that Difficult
ties have arisen in the negotiations be-
tween Germany and Holland and the
negotiations are not making headway.
The Hague correspondent of the Han
delsblad says the question of the trans
port of sand and gravel and the use of
the railway line through Limbourg de-
pends entirely on the intentions of
Germany. The correspondent adds
that the Dutch Government will firmly
observe neutrality whatever happens.
The Greenville journal. [volume] (Greenville, Ohio) 1850-1918, 1918-05-02
ARE SKILLED IN MEDICINE
Natives in Africa Have Seen Known
to Effect Some Really Remark
able Cures.

In dangerous and infested Africa the
natives, to live at all, must learn some
thing Of the human body and certain
remedies. And they have done so.
They know good deal about heFSS
and their curative properties. A case
is recorded of black in Bechuana-
land who was able to cure BOer wOm-
an when the English doctor had given
her up. She had boils and blood pOis-
Oning and seemed in extremity. One
of the Beers native drivers received
permission to call in a bush doctor.
The bushman sat silently watching the
patient for a time and then trOtted of
over the veldt for some distance gath
ering variety of herbs as he went.
Returning, he boiled water over the
fire, throwing into the pot his collec-
tiOn of medicines. When the infusion
was ready he gave the patient great
bowls of it to drink and also bathed
her sores in the decOctiOn. Within "a
hours she was able TO laugh at the
white doctor and thank the black.
Other tribes like the Ekoi parctice
q simple surgery. One man who was
gOred in the abdomen by an elephant
was nicely patched with a calabash
placed inside to keep his intestines in
place. To be sure, you could see the
shape Of the calabash forever after, but
the patient entirely recovered.
The Akamba, also, are said to be
very skillful in surgical operations and
very knowing about the human frame.
They set broken legs in very sensible
fashion, placing the patient in a hollow
in the earth, where the leg is buried in
heated loan while his upper body is
free. There he SITS guarded by his
companions from wild animals, until
the bone is knit.
Cupping and scarifying are common
means Of reducing Inflammation. In
fact, they are so much used that many
a patient is badly enfeebled from the
loss of blood.
Baths are appreciated in Africa as a
health measure. Kroo women bathe
themselves and their husbands and
children in hot water every day. Sick
people are sometimes wrapped In a
blanket and steamed over q bath with
herbs in it. They are then made to
take cool walk and another bath,
quite according to the methods of Bat
tie Creek-HeSter Donaldson Jenkins
in World Outlook.