davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1918-05-07
Steel Trade Acts
To Save Supply of
Ferro-Manganese
Representatives Meet To-
day; Will Urge Change in
Steelmaking Practices

Leading producing interests in the
American steel industry meet in Pitts
burgh to-day, at the Offices Of the Car
negie Steel Company, to take under
consideration ways and means for con-
serving the supply of ferro- manganese
in the manufacture of steel Lack of
ship tonnage to transport the much
needed manganese ore to the United
States from Brazil, the principal source
of supply, is interfering seriously with
the maintenance of steady flow Of
held at Pittsburgh was called as q re-
suit Of the recent meeting between gov
ernment representatives and the alloy
committee Of the American Iron and
Steel Institute.
One of the important steps that is
expected to be taken to-day will result
in modification of the present practice
of steelmaking by which a much lower
grade of erro-manganese and larger
supply of spiegeleisen can be employed
in the manufacture Of steel. 1t is the
desire of the government that practi-
cally all Of the low grade domestic
understood that the Shipping Board is
also taking steps to provide larger ship
tonnage to bring the Brazilian ores to
this country, at the rate of about
$4,000 tons a month, beginning next
July
Steel men said yesterday that the
best Brazilian ore now used in steel
making contains about 80 per cent of
fcrro- manganese. Domestic ores con-
tain from 40 to 60 per cent Use of
ferro- manganese ore too low in grade,
it was asserted, might result in con-
siderable decrease in steel production,
besides increasing the amount of fuel
consumed
1t is believed in trade circles that
importations of manganese from Bra
zil will not exceed 100000 tons. Last
year such importations exceeded 5OO,-
600 tons. Conservative estimates place
the United States production this year
at 175,000 tons, while Cuba is expected
to produce 100000 tons and Central
America. 10000 tons, according to THE
Engineering and Mining Journal"
New-York tribune., 1918-05-07

The third Liberty Loan was an
triumph. In country
which less than year ago had fewer
than 100000 security holders, sew
enteen million subscriptions were
entered in campaign lasting less
than a month. Never before was
bond offering in any nation so wide
ly distributed. One bank in this
city sold about S3,500,000 of the
bonds to 10000 subscribers, an av.
erage subscription of $59. Another
placed something over $30,000,000
worth among $4,000 to 10000
subscribers. Another reports that
it received about 10000 subscrip-
tions for a total of approximately
100000 and will not have to
take any of it's quota for it's own
account. That is a striking fact,
and it is the thing from which Wall
Street draws great cheer; for if the
UuIO OCl Ildu 1dllCIl VII tllC OCtIlkS CllC
loan could not have been considered
a success, no matter what the total
subscription. The splendid thing
is that this wide distribution of the
bonds will do more toward stimu-
lating thrift among the people than
anything else that has yet occurred.
Millions have pledged a part of
their future earnings, and the only
way in which they can fulfil the
pledge is by reducing unnecessary
consumption. That means the ap-
plication of an automatic check to
the non-essential industries, which,
in turn, means that labor, money
and material will be diverted to war
work.
New-York tribune., 1918-05-07
Call Sugar Payment
F irst lnstalment of Cuban
Credit Due Eridax

The syndicate which was arranged
for the Cuban sugar credit of $100,000,-
600 has called for the first S10,000,000
week. Five or six million more will
be called for next week.
The Federal Reserve Bank rate on in
dorsed acceptances is 41s per cent, and
the Cuban producers Of the sugar pay
l per cent above this rate, plus as Of
l per cent to the accepting banks for
ninety days. That is to say, they pay
at the rate Of 81s per cent. per annum.
The Cuban sugar loan was under
taken by q syndicate Of New York
banks at the request of the Interna-
tional Sugar Committee.
ticipated in this loan.
New-York tribune., 1918-05-07

A Chicago dispatch quotes Frank
A. Vanderlip as saying:
There is some imitation of course,
which is inevitable, but it is con-
trolled and will continue to be con-
trollable. Imitation should have it's
effect on securities. By that l mean
stocks and bonds should be relative
ly affected as other things have been
affected.
If Mr.. Vanderlip has been quoteo
accurately he has, in effect, gone on
record as predicting higher prices
for stocks. Imitation on a large
scale undoubtedly would result in
q great stock market boom if it
were not for other factors which
tend to offset or defer it's effects
for a time. Among these may be
mentioned price fixing, uncertainty
as to whether tax rates are to be
heavily increased, and, perhaps,
most important Of all, the fact that
loans for purchasing or carrying
stocks have been classified by the
Federal Reserve Board as non-es-
sential.
New-York tribune., 1918-05-07
Frisco r. r. Earnings
Show Big Increase
Balance of Income for 1917
Is ST. Per Cent
Higher

After all deductions the income for
1917 of the ST. Louis-San Francisco
Railway Company showed an increase
of $1,149,345 over that of 1916, accord
ing to the annual report to stockhold-
ers made public yesterday The figures
for 1917 reached s2,s47,7s7, which is
67.7 per cent in excess of the balance of
income for the preceding year.
Moreover, the net operating revenue.
which was 20,065,838, exceeded that
OF the previous year by $685. ,61S,
which is nearly Is per cent. While the
total operating revenue amounted to
$59,676,656, which includes an increase
for the year of 1873 per cent, the total
operating expenses were more than IL
per cent higher than in 1916. The pay
ment for taxes in 1917 reached $2,757,-
343, which is 26.7 per cent more than
was made in 1916.
The mileage owned was increased
during the year by the acquisition Of
the Sapulpa G. Oh Field Railroad. cx-
tending from Depew, Okla, to Sham
rock, Okla, 1893 miles. The mileage
cancellation Of lease between the ST.
Louis San Francisco & Texas Railway
and the Gulf, Colorado & Santa Fe
Railway Company, decrease of 1905
miles.
During the year, s6,440,oOo of addi-
tional prior lien mortgage 5 per cent
bonds, series B, were issued for vari-
Gus purposes. There was extended
during the year s6,S53 ,6O1, which is an
average of Sl,315 mile. And s9,8s7,-
332 was spent for the maintenance of
equipment The average expenditure
for repairs per locomotive in 1917 was
$4.4483S, and the average expenditure
for the repair of cars was: Passenger,
SS92; freight, $lO2, and service SCI.
New-York tribune., 1918-05-07
Corporate Returns
Buffalo & Susquehanna Railroad Cor

Buffalo & Susquehanna Railroad Cor
poration.-Report for the year ended De-
cember 81, 1918, shows operating reve
nue. of s1,7S5,S56, compared with
$1,67S,6S5 for the preceding year. Ex-
penses and taxes amounted to 81 ,523,-
36S, leaving operating income of $262,-
4SS, against $4O2,536 for 1916. Other
income totalled $667,913, bringing the
total income for the year to $930,401,
against $S99,461 for the year before.
Surplus was $657.637 which is equiva
lent, after allowing for preferred divi-
dends, to $16.58 per share on 10000
shares of common stock, compared with
$61S,925, or $1529, earned in 1916
Dividends were $370,000, an increase of
100000 over the previous year. Bal
ance amounted to $272, $50.
Gross earnings for March were $2,O05,-
O34, an increase of $249,59 over the
same month of last year. Net after
taxes totalled $427,0e9, compared with
$376697 for the corresponding period
of the year before. Gross for the first
quarter of 1918 amounted to $5,SO6,373,
against $5,192,416 for the first quarter
of 1917. Net after taxes was S1120,-
S46
Chicago Great Western Railroad
Company.-Total operating revenue for
March was $1,617,601, compared with
$1,357,722 for the same period of the
were S1,217, ,093, an increase of $1S9,691 |
over the corresponding month of 1917. i
Net income after charges for the period !
amounted to $167,298. Total revenue
for the first quarter was $4,Os7,241,
against $3,7S7,5S9 for the same quarter
Of the previous year. Net revenue
from railway operations totalled $542,-
434, compared with $500, ,422 for the cor
responding period of last year. Deficit
for the quarter amounted to $122,332
Carolina, Clinchfield & Ohio Railway.
Gross earnings for the quarter ended
March 81 last were $1,065,5S2 Net
totalled $333,279, compared with s433,-
1856 for the same quarter of 1917. Sur
plus after charges and taxes were $685.
254.
Duluth, South Shore & Atlantic
Statement for the first quarter of 1918
shows gross earnings of $843,944, COM
pared with $9O6,53o for the same
months of the year before. Net oper-
atlng deficit amounted to $53,499,
against an income of $200,2O4 for the
corresponding period of last year.
Deficit after charges totalled $343,292
United Gas & Electric Corporation.
Gross earnings for the subsidiary
companies lOI the year enUeO Decem-
Der 81 last amounted to $16,287,275,
compared with s15,16o,156 for the
previous year. Operating expenses
and maintenance totalled $685. 1929,
against s7731,247 for 1916. After
taxes of $1,156,370, a gross corporate
income of S6,132,576 was accounted for.
Fixed charges were $685. ,989, COM
pared with s3,503, 165 for the preceding
year. Balance amounted to $2,556,587.
Wheeling & Lake Erie Railway
Statement for March shows gross rev.
enue of SS65,476. Expenses were $685.
042, an increase of S2O8,237 over last
year. Net revenue was $172,433 Gross
revenue for the quarter ended March
81, 1918, totallcd $2,250,188. Operat-
ing expenses were $2,077,917, leaving
net revenue of $172,270. Operating in
come for the period was $27,61O.
New-York tribune., 1918-05-07
April Mining Dividends

Dividends paid in April, isia' -
thirty United States mining anu -. ~
lurgical companies making psp'" s..
turns amounted to s7,276,ool, as :.
pared with sl1.567.l3s paid os =
four companies in April. 1917, s s...;,t
ing to sThe Engineering and a'c css.
Journal" Canadian, Mexican ana - 81
trail American mining compae.,,'esse 2, seoa
s9o3,506 in April, 1918, and ss,ss IL
in April, 1917. Totals for the .s mn. he a.
months OF 1913 compare WIN ssnllosk
responding period in 1917 as sss.,1urrip lure
United States mining and me.a.e1sIs esI 81;
companies. s54.5s7.5 .525. against ss,sS& ssS& q
100; holding companies. ~ ~
against s2,7Si,2l7. and Canad,sus, ~
ican, Central and South Amss,sSsa9dS g III
panies, $5,5sI,2Si. against $so
New-York tribune., 1918-05-07
The Dollar in Foreign Exchange

Quiet prevailed in the foreign ex-
change market yesterday, with ex-
change on Switzerland continuing to
display strength. Swiss francs sold
at 4.16, new high record. Italian lire
bills sold off on light offerings. Ex-
change rates on Paris and London
were steady.
Paris exchange on London yesterday
was unchanged, at 81 francs 16 CEN
times.
Closing rates yesterday. compared
with week ago. follow:
Quoted dollars to the povnd)
New-York tribune., 1918-05-07

man act, silver certificate mus %
withdrawn from circulation. The ss''
tifcatcs are coming in slowly, W.
reported yesterday, and this is chstl'
ing the process of melting down =
coins. SO far the Federal kesn,,
banknotes that are to be substisss.
for the circulating silver certlne.s,, !,
are not available for issuance owine "
delay in engraving them
New-York tribune., 1918-05-07
News Digest
Foreign

London Market Firm.-LONDON,
May 6.-The stock market showed an
excellent tone generally to-day, under
the influence Of the military position
on the Western front and the result of
the Liberty Loan campaign. In the case
of various home investments the de-
mand exceeded the supply. Mining
shares were strong, particularly the
base metals. French rentes made a
further advance. Chinese securities
were stronger, the rise being attributed
to the japanese loan to China. Oil
stocks, especially the speculative
varieties, made good showing. Money
was in abundant supply. Discounts
were quiet.
Paris Bourse.-PARIS, May 6.-Trad-
ing on the Bourse was calm to-day
Three per cent rentes were quoted at
58 francs 60 centimes for cash; 5 per
cent loan, 81 francs IS centimes.
New-York tribune., 1918-05-07
Elections

George Pick has been elected di-
rector of the american Radiator Com
pany, succeeding Frederick Garvin, re-
signed.
Clayton E. Synnett has been elected
a director of the Pennsylvania Sugar
Company, succeeding the late Richard
Y. Cook. The retiring directors were re-
elected.
New-York tribune., 1918-05-07
A Progressiye Increase

According to a Wall Street sh' =,
of the Steel earnings the corp0's J,
in the month of January eaf's' :,
the rate of about 14A per CEN
annum on the common Stock i
ruary about 2414 per cent anu
March about 46 per cent.
New-York tribune., 1918-05-07
Domestic

Flagg Decisions Sustained-WA
INGTON, May 6.-Federal decisions
naming receiver to take over the
business of Jared Flagg, a New York
stock broker, in the interest of clients,
were in effect to-day sustained by the
Supreme Court, which refused to re-
view the proceedings. Flagg was con-
victed in 1911 for alleged fraudulent
use of the mails, but the conviction
later was set aside,
New-York tribune., 1918-05-07

Totals. .s5,31s,546,717 s4,73e,s71 1868
Per capita circulation was $5O.37:
1917, $45.o1; 1916, $38.28; 1915, $34.78;
1914, $500; 1913, $34.54; 1912, $34.56;
l9ll, $34.70; 1910, $34.59; 1909, $34.92;
1908, $35.37.
London Money Market-LONDON
May 6.--Money, 2h per cent Discount
rates, short bills, 3h per cent; three
months bills, 1916 per cent. Gold
premiums at Lisbon. 5000.
New-York tribune., 1918-05-07
Peace Talk and the Market

Peace discussions were revived in
Wall Street yesterday by the advices
from abroad. and part of the early
strength displayed by stocks was at
tributed to this influence. Bankers in
close touch with the international sit
uation did not take much stock in the
peace talk and looked upon the reports
as bearing the earmarks Of German
New-York tribune., 1918-05-07

Silver.-Bar silver in London was
19hd, unchanged; New York, 9o1zc
unchanged; Mexican dollars, TIC, un-
changed.
Sub-Treasury.-The banks lost to the
Sub-Treasury yesterday $257, 200.
Money in Circulation.-WASH
TON, May 6.-Money in circulation in
the country on May J. compared with
a year ago as follows:
New-York tribune., 1918-05-07

TIC HDove rates express the cost Of
foreign money in terms Of the Ameri-
can dollar. You buy an English pound
sterling at. say, $4.75ss. The intrinsic
parity as s4.S6ss per pound Thus you
say either that pounds are ct discount
or that dollars are at a premium. which
is owing to the fact that in England
the demand for dollars with which to
settle accounts in this country is greater
than the demand in this country for
pounds with which to settle accounts in
England.
New-York tribune., 1918-05-07

TO THE STOCKHOLDERS AND DE-
TiENTIRE HOLDERS OF THE
ESTMENT SECURITIES COMPANi.
Tho annual meeting Of the lnyeslmssa
Securities Company wili be held a. w
New York City. on Monday. May IL, is's
at IL o'clock noon.
HERMAN j. COOK. Secrst1y
New-York tribune., 1918-05-07

6 per cent for the best regular maturi-
ties.
Bank Acceptances.-The market was
active yesterday, but rates were un-
changed as follows:
thirty Sixty Ninety
Spot de- days. days. days.
livery: Per cent. Fer cent. Per cent
| 81 b e
m m Der
banks. .4Ls@4 4l4@4Na 4h64A
E gi b e
non mcm-
Der banks4aa@4h 4as@4I4 Ma@4is
Ineligible
bank bills s5A @4s4 sM@As4 5A@4az
For delivery within thirty days:
Per cent.
Eligible member banks. s....... 4H
Eligible non-member banks. 45a
Ineligible bank bills. 6
Discount Ratcs.-The following table
gives the current rates of the twelve
Federal Reserve banl.s on commercial
paper on all periods up to ninety days:
---- Maturity
New-York tribune., 1918-05-07

The overwhelming success of the
loan campaign in this district must
be credited largely to the excellent
work of the publicity committee.
This committee has built up an ex-
tremely effective organization and
has handled an unprecedented task
in splendid fashion. 1t is now re-
ported that the organization is to be
disbanded. That is hardly a wise
move. Of course, it is unnecessary
to maintain the full organization,
but it should be kept as nearly in
tact as the circumstances require,
bearing in mind the fact that the
next loan will, in all probability, be
much larger than the last one, and
will, therefore, necessitate a great
deal of preliminary work. While
waiting for the next loan campaign
the organization might devote It's
energies to putting over Mr.. Van-
derlip's $2,000,000,000 thrift stamp
campaign.
The loans success undoubtedly
was responsible for the improve
ment in the stock market yesterday.
From the opening traders were de-
cidedly optimistic and a strong ad-
vancing movement was the result.
Steel common, the leader, sold at
par late in the afternoon, the high
est price touched in more than five
months. The market remained pure
ly professional in character, as it
has been for months. That condition
is likely to obtain for some time.
With Stock Exchange officials and
bankers frowning on speculation
there does not sem to be much
chance that a large outside follow
ing will be attracted to the market
in the near future.
New-York tribune., 1918-05-07
DWIGHT ". pARDEE. secretsp.

THE ANNUAL MEETING OF THE SToE.
holders of the STANDARD GAS LlGR.
COMPANY OF THE CITY OF NEW f0sA|
Will be held at the Office # the Compass,
Room No. goo. No. 1870 East 18th Stree.
New York City. on Wednesday. May I'll
1915. at IL O'Clock NJ. FOR the election u
Directors and the trap ction OF such oihs
business as may come before The meeting
JOHN e. SANBO3N. secretarr
New-York tribune., 1918-05-07
BUY-sElL

MIDWEST REFINING CO.
MERRITT OIL CORPORATION
ELK BASIN PETROLEUM CO.
INTERNATIONAL PETROLEUM
IMPERIAL OIL CO., LTD.
LOBIToS oILFlELDS, LTD.
SAPULPA REFINING CO.
HOUSTON OIL CO.
PORT LOBOS PETROLEUM
NATIONAL FUEL GAS CO.
NORTHWEST OIL CO,
CO6DEN AND CO.
RoMp8 STOCK
New-York tribune., 1918-05-07
FINANCIAL MEETINGS
THE NEW YORK AND HARLEM
RAILROAD COMPANY

New YORK. - Y. April q. 1913
NOTICE IS HEREBY GIVEN that d.
Eighty eighth Annual NJ, citing Of Ii.
Stockholders Of The N.w York and Hsf.
lem Railroad Company: fer the electisa Z.
Directors and the transaction OF rtA
other business as may be brought bios
the meeting, will BE- held IT the esr Il
the company. in Grand Central Ttrnaal,
in the City Of New York, Oh Tuesday tas
2lst day of Nay. l9ls.
The Poll Will be open az - O'clock Nc,
and continue open for two hours shsr.
after.
The Transfer Books will be closed si
o'clock Z. NJ. on "Wednesday, the lu ttI
of May, 1918. and re-opened on the rnar
ing of Wednesday. the End day Of Nis
1913.
New-York tribune., 1918-05-07
Mineral Range

Stocks Ex,Dividend Yesterday
United States Steel preferred d...,.$l.75 = shsre
New-York tribune., 1918-05-07

Silver Certificates Come In Slowly
For every silver dollar that is melted
down, under the provisions of the Pitt
New-York tribune., 1918-05-07

Bank Clearings. Jays bank
clearings at New York and other cities
were:
Exchanges. Balances.
New York. -. .$437, PIT, ,os8 $51, ,s4o,336
Boston. n....... 39,058,222 9,853,961
Chicago. ...... 91,477,325 1865, ,6O3
Philadelphia. -. 64,S32,17O 9,769,397
New-York tribune., 1918-05-07
Money and Credit

Call money ruled at per cent at the
stock Exchange yesterday, although
the rate advanced to per cent late in
the day. The market closed at 51a per
cent. Last weeks reduction in cash
reserves was an important influence on
yesterdays money market.
Offerings Of fixed date funds contin-
ued scanty. Rates were unchanged at
ties.
Ruling. rates for money yesterday.
compared with year ago, were as fol-
New-York tribune., 1918-05-07

6. per cent for the best regular maturi-
New-York tribune., 1918-05-07
cARLH.PFoRzHElMER&co

Dealers In STANDARD Oh Securities
Phumss 1850 49, BruaA- 20 Broad St.. n. Y.
Evening journal., 1918-05-10
IRON AND BLOUI

Few people know that every coura-
Keous, red-blooded person, such a.
pur own soldier boys at the front.
has within his body fifty grains Of
Iron, OF as much as is contained II
kn ordinary "tenpenny" nail. Tt
be brave, courageous and active one
must have good, red blood. Our
men of iron are men with good
blood, good circulation and an active
liver. The poor, weak Stacker
who Ia not brave enough to go 10
war. is probably unfit because Of
thin. watery blood. II is easy TO
ncauire strength and red-blood cor
puscles by taking regular exercises
In the outdoors, breathing exercises
In the morning, and something to
increase the appetite and the red
blood corpuscles.
The newest iron tonic is Ironhc"
discovered by DR.. Pierce and his
staff of physicians at the Surgical
Institute, in Buffalo, N. Y. This
"Irontic" tablet is a combination Of
soluble iron and herbal extracts
which is proving a wonderful success
everywhere it can be obtained:
Most druggists sell these "lront1c
tablets in sixty-cent walls.
Send DR.. Pierce 100 for trial pkg.
s'Irontic" tablets build up. strength
en-, energize, and fill you full or vim
vigor and vitality.
Evening journal., 1918-05-10
Cam PARTY AT DELMAR.

special to THE EVENING JOURNAL.
DELMAR, Del, May iO-Mrs , y
Culver was hostess on Wednesday even
ing at a card party and had as her
guests Dr. and Mrs. c. II. Riggin, Mt
and Mrs. J. Paul Ellis, MIR. and Mrs.
Charles Il. Truitt. Mr. and Mrs. j. FREQ
stevens. Mr.. and Mrs. Ira F. Hearn' MT
and Mrs. Harry Gibson, Mr.. and Mrs. T..
r. Freeny, Mr.. and Mrs. J. W. Freeny'
Mr.. and Mrs. A. II. Hearn. Mrs. H. L.
Waller. Mrs. r. Il. Marsh, Mrs Addle
Culver. Miss Grace Trader, Miss Lulu
Guiherle. Miss Ethel Webster, Miss Mar
Gle Hearn. Miss Gertrude Gordy, Miss
Melvin. Dr :. Il. Lynch, William Hickey
George Hallowen, Glen Elliott 5. n
Culver.
Evening journal., 1918-05-10
METHODIST PASTOR
accused OF SED|TIOH
T ankford, DEL, Minister
oaits of Preventing
Army Enlistment
SAID TO HAVE
OPPOSED DRAFT

LAUREL. Del, May iO-omcials Of
Methodist Episcopal Church.
this county, have sent 10 the depart
ment Of justice afldavts charging
their pastor, the Rev. c. w. Strlck-
land, a leading member OF the VII
mington Conference, with making sedi-
tious statements concerning the United
States part in the world war. inter
ference with the draft and opposing
loans TO the government.
The conduct OF the minister, who is
52 years old, a native OF England, who
has been In the ministry here twenty
years. has created a great stir The
afldaviis accuse Strickland with say
ing this Is a rich mans war and any
one who fights 10 add sold to their
Golfers is a fool, and that any one who
buys Liberty Bonds cammits a crime
against God and man.
In a recent sermon he is said TO have
declared
Last year, when stationed in VIII
mington. I met a youthful member OF
my church, who told me he was on his
way 10 enlist. took him aside and ex-
planned TO him the foolishness OF sacri.
/ fclng his life and probably killing his
mother in such an ungodly cause anc
converted him from a war enthusiast
to an opponent Of war and am happy
did.
And I give the same advice to othei
youg men and also advise others 10 re
sist the draft Fight the makers OF wal
instead Of killing your feilowmen.'
Members Of Mr.. Strickland's churcl
demanded his arrest 10 prevent NOR
drastic measures by citizens The fey
friends Of the minister advance the The
ory that his mind has been aeffcted b.
the horros Of the war