davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1918-11-05
In d u strial
Cotton

An excited advance took place yes
terday in the cotton market, with jan
uary scoring a net gain of 1S5 points,
or within Is points of the maximum
tiuctuation permitted for any one day.
That delivery sold at 1885, or 2Sb
points above the low level of Saturday
morning, and closed at $500, with the
general list closing strong at a net
advance of 140 to 179 points.
The market was extremely active
and excited from the start, with shorts
spot offerings in the South had been
practically withdrawn toward the close
of last week. Because of the reports
Of unsettled conditions in the goods
trade and the failure of favorable
war news to stimulate demand, traders
have been selling recently on an idea
that peace would be a bearish factor
unfavorable to cotton prices. The op
poslte view appears to have prevailed
IN the South, however, and it seemed to
be the impression that the publication
of the Austrian armistice terms would
strengthen the determination of hold
ers: Under these conditions the firm
technical position of the market after
decline of over 10 cents a pound
from the high prices of the season as
oSi CSu itoCtl, dilQ SuOTlS seemed 10 ma
d1fflculty in securing cover.
The opening was firm at an ad-
vance of SO to 90 points on the higher
Liverpool cables covering and moder-
ate demand from trade sources. This
trst bulge seemed to meet consider
able cotton and there were reactions of
about so points before the end of the
morning. Except for realizing #. or a
little reselling by bearish traders who
had taken profits on short contracts
toward the end of last week, there was
no pressure, however, and the market
developed still greater strength during
the afternoon oil renewed covering.
December contracts sold up to 29.04
and March to 1886, making an advance
OF $50 to 1873 points over SATURDAYS
1lgures. The close was within 10 or
ID points. of the best. According to
some OF the local spot people hardly
pale OF cotton was Offering in the
oou1n at the close OF last week, and
1t is believed that holders are respond
ing to the appeals of farm organiza-
tlons to refuse to market their cotton
at ,he lower prices These appeals are
also being made by the Commissioners
OF agriculture for some of the South7
ern states, and it was claimed yester-
day that the hedged cotton selling re-
Gently on scale down in some Of the
leadlng Southern markets has now been
pretty we'll absorbed. Southern spot
markets, as officially reported early.
were unchanged to l50 points higher
ana little more business was noted
at the advance, with Houston report
ing sales of $500 bales on the basis
of $3.50 for middling.
ne range Of prices follows:
New-York tribune., 1918-11-05
Fourth Liberty
Bonds Sell at 50
Total Sales of New Issue,
Just Listed, Reach
S8,8O3.OOO

Opening sales of the bonds Of the
fourth Liberty Loan, which were
traded in on the Stock Exchange yes
terday for the first time, were Jumped
into one transaction Of s3,S00,000 at
an opening price of SO. Later sales
swelled the total to ss,so3, 900, with no
change in the quotation.
The initial transaction was by far
the largest block of Liberty bonds that
was ever recorded at one time on the
exchange ticker tape. The previo $
record was lot Of the second As, of
which S1,700,000 sold on March 26,
1918, at $3.50. The records show that
there have been seven other sales on
the Stock Exchange of bonds to the
amount of S1,0O0000 or over.
The opening sales in the Liberty
Loan fourth AIS compared with 10000,
the initial price of the first Liberty
372s, made June Is, 1917; 100, the
initial transaction in the second Lib
erty Loan As, was made October 20,
1917. and 99.10. the first sale of the
third Liberty Loan ANS. was made
May 10, 1918.
New-York tribune., 1918-11-05
U. S. as Clearing
Centre for Goods

The rapid growth in the reaxporta-
ton of foreign merchandise from the
United States during the four years
Of the great war is leading many people
70 believe that this country may hold
its position as world clearing house
even after peace is declared. The in
crease in this character Of business in
1918 will be about three times as much
as in the year preceding the war and
four times as much as decade ago.
The total value of foreign merchan-
disc reexported in the calendar year
1918, according to compilation by
mate 500, 900, contrasted with s64,-
100000 in 1917, s6G,000,000 in 1916 and
$4,000, 900 in 1913.
up to the war period" the bank
sdds, "the growth in resxportation OF
foreign merchandise had been slow,
the total value of foreign merchandise
sesxported from the United States hav-
ing been $10,000,000 in 1879, S13, ,000, 900
IN 1889, $22,000,000 in 1899, $27, coo 900
in 1909, and $4,000, 600 in 1913. Then
it began rapid advance, and in 1918
the total will approximate and perhaps
cross the 100000, 900 line. The total
FOR the nine months ending with Sep
sember, 1918, is $71 1,694, 496, against
$43, ,40b,445 in the same months of 1917.
should this great show of increase con-
sinue during the entire year the total
for 1918 would exceed $1,000 900,
sga;nst 1854 100000 in the former high
record year of reexportation of foreign
merchandise.
"Foodstufs and manufacturing ma
terials are the chief articles in which
this increase in reexportation of for
Ign merchandise occurs. Rice, corn.
yheat, tobacco, fruits, fish, fresh beef,
tea, beans and PEAS show large in
crease in rezxportation. SO have also
certain manufacturing materials. espe-
ciaily sisal, leaf tobacco, raw silk and
pig sror. OF rice, chiefly from Japan,
the quantity resxported in the seven
sa0nths Of 1918 was 10000, 900 pounds.
valued at $685., ,00e, against 14,272, 900
rounds, valued at $30S,000 in the core
spending period of 1914, all of which
preceded the war. This great wheat
country also re9xported no
tess than 1854 ,0o6 bushels, which had
;mcn brought in Mrom abroad, chiefly
sgainst 7f2,000 bushels in 1914,
'sc yx.ue in the seven months Of 1913
ssa2f es,ss9 = w v aSf1as ssss'ess " the
New-York tribune., 1918-11-05
800, 900, 900 Rubles
In Gold Is Rescued
Omsk Government Reported
to Have Blocked Boil
shevik Plans

Russian government gold valued at
S00,0O0,00O rubles, taken from Petro-
grad by the Bolsheviki, has been saved
at Kazan by the Omsk government, A.
j. Sack, director of the Russian lnfor-
nation Bureau, announced here last
night, on authority of the Russian En-
bassy at Washington.
The gold, representing two-thirds Of
the reserve in the Russian Treasury
when the Bolsheviki gained control of
the capital late in 1917, was transport
ed by them to Kazan and thence to
Samara. Agents of the Omsk govern
ment, obtaining possession of it. took
the metal to Omsk. News of the coup
was cabled to Washington by I. A.
Michailoff, Secretary of Finance at
Omsk, Mr.. Sack said. The gold is worth
approximately $400,O00,000.
New-York tribune., 1918-11-05
Business Failures Fewer
r. G. Dun & Co. Report Pro-
pressiye Decline

For seven months running com
mercial failures in the United States
have decreased in number and for the
ten months ended with October were
2S per cent below those of the cor
responding reriod of 1917, with liapii-
tiles per cent smaller.
The statement for October, as com,
piled by r. G. Dun & Co.. discioseso
only $50 inso.vencies for s1S ssoSoo
against 674 failures with Liabilities o.
SIT 7,407,140 in September and 1882 de'
faults in October, 1917. when tns
total Indebtedness was S12s12,ol2.
New-York tribune., 1918-11-05
Wealth Markets and Commerce

day, compared with 571 last July. The
rates on Paris yesterday were the most
quoted since 1915 Although the rates
on the Italian lire are controlled Joint
ly by the Federal Reserve Board and
the Italian Institute, they nevertheless
rose markedly in response to the drop
ping out of Italy's main foe from the
war on terms imposed by the Allies.
On the other hand, the neutral Euro
pean Exchanges moved sharply in favor
Of New York, as was to be expected
The rates on Stockholm and Madrid
declined to the lowest rate since 1916.
Closing rates yesterday, compared
with week ago, follow:
(Quoted dollars to the pound.)
New-York tribune., 1918-11-05
> u s t e n a nee
Cereals

Wheat.-The visible supply Of whest
IN the United States continues to make
new. high records. The~i increase Iast
week was 9,096.OO0 bushels. which
brought the total to 122, ,604 900. com
pared with 14,908,0O0 a year ago. Ex-
ports are being somewhat curtailed bv
Ihe Dig demand for tonnage for the
transportation of troops and war sup
plles' put 1t was said in shipping cir
c,es that the situation was being
cleared up and that more tonnage was
expected for the transportation Of
grain. The trade looked upon the war
situation as highly favorable for early
peace negotiations, and many believe
mat as soon as peace is once assured
there will be big jump in the shin
ments OF wheat and -four from the
United States to European countries
Inc distribution of tonnage is still
somewhat of a problem, however. and
IL mas not yet developed what the
prospects will be for moving grain from
Argentina. and Australia, where sun
plies are liberal. 'ep
COrn.-The corn market was onlv
moderately active but the action Of
values was thought to denote that the
market mas discounted early peace. At
any rate, after an early decline Of over
z cents bushel prices rallied and at
the close of the day showed net gains
OF 9scc to %c. Shorts were the prin-
cipal buyers, although there seemed to
oe disposition to even up contracts
both ways for over the holiday. The
cash markets in the West were com
paratively heavy and it was said that
farmers were showing a disposition to
sell their old corn. New corn is also
moving in slightly larger volume. Chi
cago reporting twenty-five cars of the
new crop in the days receipts. Gov
ernment buyers showed a willingness
to make moderate purchases and a
small business was said to have been
done for export. The visible supplv
IN the United States decreased 375. 900
bushels for the week, indicating CON
tinued good distribution despite the re-
ports of slow cash demand.
Yes'day's Previous Year
N'w York: close. close. aro'
Corn: No. yellow .st4e s1.4sM
November ........ LISA 1.f5h
December 1.1as4 1.ia& 1.17l
Oats.-After moderate earlv decline
ON the war news the oats market de-
veioped decided frmness and MT the
close OF the day was l to nc net
higher. The government was said To
% buying cash oats In ths West for
New-York tribune., 1918-11-05
American Sumatra Breaks

1t was difficult to find a plausible
explanation for yesterdays precipitate
decline in American Sumatra Tobacco.
especially in view of the arguments
that have been put forth to show how
it will benefit by the coming of peace.
Brokers reported it to be fact, never
theless, that the stock found "verv
thin market" on the way down, which
is another way of saying that there
were more sellers than buyers. During
the morning break the price at one
time was as low as 94is, contrasted
with Saturdays closing quotation If
1061s. At 81, the last sale, there was
u net loss of 9s points.
New-York tribune., 1918-11-05
Relevant Comment
When Austria Dropped Out

The blowing of whistles in the har-
Dor at g o'clock yesterday afternoon
reminded the financial community Of
the passing of Austria Hungary as q
belligercnt. Austria, of the Haps-
burgs, whose naughty ultimatum to
Serbia in the summer Of 1914 pre-
cipitated the world war, retired from
the struggle meek and helpless, in the
throes of revolutions and separatist
movements. Wall Street discussion
focused on such reflections and on the
drastic terms of the armistice, but at
least one provincial person misinter-
preted the celebration. AS the whis-
ties blew triumphantly man whose
world is the sock market queried,
HAS the money committee taken the
lid off ?"
New-York tribune., 1918-11-05

The above rates eexpress the cost Of
foreign money in terms of the Amer
lean dollar. You buy an English pound
sterling at, say, $4.7545. The intrinsic
partly is $4.S6ss per pound. Thus you
say either that pounds are at dis
count or that dollars are at q 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
New-York tribune., 1918-11-05
Sanderson Not at Marine Meeting

More than the usual interest CEN
tired in the weekly meeting yester-
day of the international Mercantile
Marine finance committee in view of
the recent announcement that Harold
Sanderson, chairman of the board,
would arrive here from: London early
this week. President P A. S. Frank
lin stated, however, that Mr.. Sander
son was not present at the conference.
He intimated that full meeting OF
the board would be held later in the
week In the event of an announce
ment regarding the pending deal in
volving the sale of the cGmpany's
British assets. Mr.. Franklin said that
stockholders would pr badly receive
three weeks notice in advance Of any
special meeting called to ask their
approval.
New-York tribune., 1918-11-05
War Shares Decline Further

Expectation of further cancellations
of war contracts by the government
stimulated renewed selling yesterday
in the shares of those companies whose
prosperity during the last four years
has been chiefly linked up with the
manufacture of guns and munitions
Bethlehem Steel "B" was again singled
out for attack and at the low price for
the session of 81 y the stock registered
the lowest price reached since the old
common stock of the company was
exchanged for the present issues on a
to l basis. New York Air Brake also
sold off sharply, showing net loss of
points at the closing quotation Of 100.
New-York tribune., 1918-11-05
War 1ndustries-and Peace

Steel men arc asking one another how
long the War Industries Board at
Washington will function after the
declaration Of peace. In the opinion
of man who is familiar with the
activities of that body in SO far as they
affect the iron and steel industry. the
board will sit at least for a period of
six months following a cessation of
hostilities. 1t is recognized that one
OF the most serious problems to be
faced will be the transfer of labor
from industries that will be adversely
affected by the ending of the war to
those which had to give way to war
work
New-York tribune., 1918-11-05
Butter, Cheese and Eev.

butter.-Receipts to-day, 1856 pack.
ages. Creamery. higher than extras II
6O3s d6lc; extras (92 score), soc: ;rst.
tSS to 81 scorel, 57@59ac; seconds fss
to n score), 53M5S1sc; lower grades
49(d SIC; unsalted, higher than extras
62G6 629sc; extras. 61@61lae: irsts
5S II (d60c; seconds, 56(15Sc: state
dairy, tubs, finest, 5S1s G59c; good IN
prime, 56@5Sc; common to fair. ASA
54c; renovated, extras, 51@5s hsc; frsts
az = (al49ac; lower grades, 4304Sc: inn.
ltatlon creamery, firsts, 45G 4sc; ladies
current make, firsts, Al X G42c; seconds
4Oc; lower grades, 3SM391ac; packinr
stock, current make, No. /, 40@4ohc.
No. 2, 39@39hc; lower grades, S76)
3S1ac. ''S'
Eggs.-Receipts to-day reported BIZ
the New York Mercantile EXCHANGE
we're 5,s5a packages. Fresh gathered
extras, per dozen. 64@65c; extra
tirsts, 61@63c; tirsts, 57@6oc; sec.
onds, 52@56c; dirties. No. /. a36ssc
No. 2 and poorer, 60@G1c; chsck,
good to choice, dry. 41@42c: under
grades, 35640c; refrigerator. special
marks, fancy, charges paid, 476aSc:
tirsts, charges paid, 45c: seconds,
charges paid, 42@44c; state, Penn
and nearby Western hennery whites.
fine to fancy, 94@9Sc; ordinary to
prime, 75@92c; gathered whites, ordi.
nary to fine. 75@94c; pullet whites.
75092c; Western and Southern gath
cred whites, $4,000; state. Penn. and
nearby hennery browns, 66072c:
gathered brown and mixed colors, 5S
Ue6c.
Cheese.-Receipts to-day, $3.50 boxes,
including 624 boxes in transit for ex
port. State, whole milk. fresh fats,
specials, colored, lb, 321s @32Ac; white.
321ac; average run, colored, 31h 032c;
white, 81 u M32c; lower grades, 291a a
Bic; twins, specials, 32hc; average
run, 81 y @52c; lower grades, S0@31c;
flats. held, specials, 30@32c; average
run, 292 031c; twins, held, specials,
30O32c; average run, 29031c; lower
grades, 25@29c; Wisconsin, whole milk,
twins, held, 30@32c; single Daisies,
held, 32@33Hc; fresh, 341ac; double
Daisies, held, 31@33c; Young America,
held, 32@331sc; fresh, S6hc; state,
SKINS, specials, 24h@251s; prime to
choice, 2S@24c; fair to good, 20@22c;
lower grades 1O@18c.
New-York tribune., 1918-11-05

The Federal Reserve Bank of New
York has put in force the following
schedule of rediscount rates which an.
ply to bankers acceptances: Maturities
up to Is days, per cent; 1s to 60
days, inclusive, Az per cent; 61 to 80
days, inclusive, Az per cent.
Bank Cleartngs.-Bank clearings yes
terday in Ndw York and other cities
were:
Exchanges. Balances.
New York :. .$438, IA, goo S51,29s, ,o5t
Boston ....... 54,15S,216 11.54s, $50
Chicago 5000. 91,082,666 10,543, ,681
Philadelphia. 68,331,46o 13,o5o, ,e15
Sub-Treasury.- - The banks lost
$6ls.ooo to the SubTreasury yester-
day.
Silver-London, 49hd, unchanged:
New York, 101hc, unchanged; Mexican
dollars, 77Mc, unchanged.
London Money .Markets-LONDoN.
Nov. a.--Money was trifle easier az
per cent. Discount rates were: Short
and three-month, 1882 per cent. Gold
premiums at Lisbon were at 10000.
New-York tribune., 1918-11-05
Other Cities

New Hide Prices Announced.-WA
INGTON, Nov. 4.-The War Industries
Board to-day established maximum
prices for South American refrigerated
hides of November and December take
off at $61 for steers and S44 for COWS.
Several other grades Of best Argentine,
Uruguay and Southern Brazil wet salt
hides have been established at CORE
spending maximums for November and
December shipment.
New-York tribune., 1918-11-05
October Bond Sales

The f1otation of new state and mu-
nicipal bonds in October showed a
marked falling off even in comparison
with the restricted financing Of other
recent months. Total sales amounted
to only sS,S70758, according to "The
Bond Buyer" contrasted with $18,412,-
479 in September, $31,954, ,663 in Au-
gust, S21 669,746 in July and S22,s34,-
348 in October, 1917. The reason for
the restriction last month was the
fourth Liberty Loan campaign, which
occupied two-thirds of the month.
Total bond sales for the year to date
are estimated at $218,2O5, ,448. de-
crease of $l71,393.194 compared with
the corresponding period of last year.
New-York tribune., 1918-11-05
Why New Financing Is Delayed

Impatient observers of things fnan-
cial are wondering why much of the
expected new financing fails to ma
terialize. The relatively few new is
sues that have been put out since the
successful f1otation of the fourth
Liberty Loan have sold we'll and tech
nical conditions seem favorable to the
bringing out of new securities. In
attempting to shed light OH the, situ-
alton. we'll informed banker, in re-
marking that important financing
tions in need of funds were undoubt-
edly waiting for the uncertainty of
The election and Of the interna-
tional situation to be cleared up, be-
lieving. perhaps, that important world
changes might result in their getting
financial aid at more favorable terms
New-York tribune., 1918-11-05
Money and Credit

Call money again showed a compar-
| atlvely easy tendency yesterday, al
though the rate did not fall as low as
on Friday, when large sums were avail
able for short time at d per cent.
The bulk Of the arrangements in the
money market was made yesterday at
51s per cent on rnlxeo collateral and 6
per cent on industrial collateral, but
later in the day it declined, and closed
at and 5zs per cent.
Money. yesterday, as at the close of
| last week, was more plentiful than it
mas been for some months, and the
! restriction of the amount of Stock
Exchange loans limited the demand
and led to drop in the rates. More
over, the Stock Exchange houses last
week were directed to curtail their
loans to the level of September 16, and
funds were as result released and
placed upon the market With rates
! declining, brokers saw what thew de-
sired dangling before their eyes, but
the restrictions of the money commit
tee and of the Stock Exchange authori-
ties prevented them from availing
themselves of sums exceeding their
stipu ated allotment
Time money remained at per cent.
The only new time money available was
for three months.
Ruling rates for money yesterday,
compared with year ago, were as
follows:
Yesterday. Year age.
Per cent. Per cent
Call money:
On mixed collateral 5N 4
On industrial c'l't'1
New-York tribune., 1918-11-05
Livestock, Meats, Provisions

Following are Yesterdays prices ,ompa M, VII,
those Of year ago: "''-
Yesterday. year ago.
100 ID. 49,. $3.50 61SI7,00 SAYS f0sfssn
Dressed beef sides.
H. ...;........ .is @ .2s rs q 40
Live veas. best,
100 lb ......s 1900 % 1851 5o n isnn
Dressed veals CITY,
lb ............ Ia a 2s 40 q .un
Iive ewes. 100 lb. $50 3 il0O $50 a. it.o0
Lambs. fair TO
pr.me. 100 lb. :.Is.2s a 1880 1900 a i7.m
Dressed mutton ID ia a III rs d 2e
Dressed lambs. lb I'll q ~ az q 2ls,
Hogs. 100 ib. =. 1900 q 1850 t7.00 q 1850
Dressed hogs. ba-
con. lb. ::..... .26ss@ .2sss .2sh@ .asz
Mess pork. bbl. 1000 q 4!.O0 AZ 90 q b75o
Mess beef. Dbl. $500 q $500 3l.So q sao0
lb. ............ 2s.soo @ 2Ssoc 2s25c ass.s
New-York tribune., 1918-11-05
Commodities :

shipment abroad and there wer. ~
mors that export buyers were msh;r,,
inquiries in the market, although ne
act actual export business came to light.
for the week, bringing the total i'eIs ~
2;l,sso,ooo' compared with l7,SI2. 900
Yesterdays Previous
Nc" 1orS1 close. close. Year aro
Chicago: ''*ss
November ........ .esss .s7s
december ...'--.. .e7s4 .sssz .ssss
Rye.-Market steady.
Yes'days Previous
New York. close. close. Year
Cash. No. West. .S1.77 $1.77 s;ss
Flour and Neutrality-suspicious. were.
Yes'day's Previous
,,,I New aork; close: close. Year asc :
rrIour. Mimi. sp. pat.s1o.75 sto75 sf1. So
Cornsneal, vel. gran. 4.20 42O asyh.
Rye -four. choice. .s@s.5o sGe.5o eSs1s
New-York tribune., 1918-11-05
Dollar in oreignlExchanee

The withdrawal OF Austria Hungary
from tae war was reflected in the for
eiRn exchange market by the strength
OF the rates on the Allied countr;ss
and the pronounced weakness Of the
ratef. on neutral countries. The dollar
S1Saa hMS aalx e.44M 8yaass ysstsSs
New-York tribune., 1918-11-05

In considering the fall of prices
after our Civil War, it is we'll to
remember that this decline was
largely nominal, due to heavy fall
in the gold premium. Gold declined
from $2.37 in 1866 to $1.44H. This
was equivalent to a corresponding
appreciation of the paper currency
and corresponding lowering of
paper" prices. In point Of fact,
measured in gold, commodity prices
were rather higher in January of
1866 than the year previous, when,
in terms of greenbacks, they
reached peak. In a general sort
of way prices in gold remained at
near this level for two or three
years after the war had ended. A
financial journal in July of 1866
speaks of wages as "higher than,
ever" In terms q gold, they were
great deal higher.
New-York tribune., 1918-11-05
News Digest
Foreign

Foreign
Paris Bourse Quiet-PARIS. Nov. 4.
Trading was quiet on the Bourse to-
day
Three per cent rentss sold at 81
francs for cash. Exchange on London
was quoted at 26 francs 5 ccntimes.
Five per cent loan brought 81 francs
55 centimeS.
New-York tribune., 1918-11-05

Liverpool Cables.-Spot cotton quiet:
80 points lower at 2O78:
good middling 40 points lower at
2O.37. Sales, 1000, all American. I'm
ports 11,000, including 5000 American,
futures opened quiet, % to 81 points
Iower. M closed very. steady; Al to 80
points higher. November, 20.77.
December, 1899; January. 19'35.,
FEBRUARY, 1873; March, 1907. Man.
chester yarns dull; cloths Irregular.