davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1918-04-21
Bonds

Trading in bonds on the New York
Stock Exchange Saturday amounted to
$2,73S,000, against s6,654,0 Friday,
$2,546,00O week ago and $1,777,OOO a
year ago. From January 1 to date,
$390,9S3,O00, against $347,511 900 in
1917.
New-York tribune., 1918-04-21

Stability of the stock market un-
der recent trying conditions and the
marked improvement both in the
volume of trading and in prices
during the last week have stimu-
lated optimistic sentiment among
stock traders, and many of them
now look for steadily rising mar
ket in the industrials, if, as is con-
fidently hoped, the Allies continue
to hold back the enemy. Many facts
can be advanced to support this
view, the principal ones being that
profits are decidedly satisfactory in
most cases, in spite of heavy taxa
ton and price fixing, and that the
market has been 50 thoroughly
liquidated that it is in very strong
technical position. But, while there
is nothing in sight to warrant a
pessimistic view of the immediate
future, except the uncertainty at
tending the progress of the great
battle, there are good many things
which will tend to restrict outside
participation in the stock market
and there can be no bull market
based merely on the exchange of
counters between professional spec
ulators. 1t is necessary to cite only
one OF these restraining factors to
show how hard it would be to en-
gineer bull market under condi-
tions which now exist and which are
likely to exist for long time. That
is the fact that the money where
with to finance such movement
cannot be obtained. 1t is we'll
known that the banks, acting under
unofficial suggestions from the
Federal Reserve Board, have been
heavily curtailing loans to busi-
nesses regarded by them as nom
essential. What is not generally
known is that loans to finance the
purchase and carrying of stocks
have been classed by the board as
non-essential. In the April Federal
Reserve Bulletin it is stated that
"loans for on-productive or nom
distributive purposes" are not essen
tial, and the board, therefore, urges
the banks to gradually reduce or
eliminate them. And in this group
it definitely places "loans for pur
chasing or carrying property,
whether real estate or personal Sc
cur1ties.' Personal securities" is a
rather indefinite term, but an in
curry addressed to the board de-
yelops the fact that it "was intend
ed to cover simply stocks and
bonds 1t is, then, equivalent to an
official request that the banks put
the brakes on speculation. If the
request is heeded-and there is no
reason for believing that the banks
will not heed 1.-THE chances are
that the market will, save for spas
modic outbursts, remain inactive for
an indefinite period.
New-York tribune., 1918-04-21

Public National Opens Branch.-Ths
Public National Bank of New York has
opens a new branch in the Bronx at
3Sl7 Third Avenue, near Claremont
Parkway.
New-York tribune., 1918-04-21

Lon 81 Money Market.-LONDON
April 20.--Money, 27s per cent. Dis
count rates-Short bills, 31a per cent;
three months bills, 3 Gle per cent.
Gold premium at Lisbon, 10000
New-York tribune., 1918-04-21


RESOURCES
April Aprl2
Co1d IN $488829000
ra 1ona lf r. board) 4138190O0
- -s" "Se"''e''''''''' 52500000 5250OO00
Gold VIII TDld Td hed by banks ss554sooo se4e2aaooo
redmnt;on e aeen's'
" ACKNOWLEDGEMENTS 23,179o00 23,546o0o
so Total gold ssa314eooo s18ao27 900
'e 'e"oef notes. silver etc. 65,15800O 64,724000
,. 10,a reserves 81 $ses3o7ooo s1ee4 se5 COO
nted-membera 712So7ooO
~ Dousht IN open market
1,G sGsl st.taI bills, on hand s11ss22ooo soa1ss4ooo
goVeTnElt short
" ~ 's ASSe'S''''''''.. 3,293ooo 3771ooo
Due from I fFarhng FdI 1s.et. s212585ooo $23a15oo
Unc -ee o~nA1-net
''''''~'''''''' 3s7,176Ooo $4,000 GOO
redemption fund a ra s384s24oo
A., eral Reserve Bank 100000
All other resources
Total ............ sa4ee217ooo s3524s5ooo
LIABILITIES
Capital paid din............... s7482eooo s7474sooo
surplus
government 754990O0
Due
oner deposits including form govt credits 832200o 82100
Total
Federal Reserve actual circulation. 528700O 19377000
Federal Reserve Bank in
. net liability ....................:.
All other liabilities
Total liabilities $3524s5oo0
Ties como1hed, ooS per cent Week BEFORE 6O3
Ratio of total
ties combined, 629 per cent Week BEFORE 625
New-York tribune., 1918-04-21
Dividends
Extras

United Profit-Sharing Corporation
An extra dividend of per cent has
been declared, in addition to the regu-
lar semi-annual dividend of per cent.
both payable to stockholders of record
May 10.
New-York tribune., 1918-04-21
Consolidated Exchange

UNIT of trade on this exchange, 10 sIearesl
Transactions and prices yesterday for the
more active shares follow:
New-York tribune., 1918-04-21

Federal Reserve Banks

April 20This
showing condition
nght indicates large liquidation
discounts
New-York tribune., 1918-04-21
Money and Credit

Surplus reserves Of the Clearing
House banks decreased s24,393,67o to
a total Of s41,e72,o00. Loans and dis
counts increased s27,197,oOo and now
stand at $4,4S6,730,o00. United States
government deposits with the local
banks decreased s56,ooo,OO0 to s3O2,-
$4,000. Net demand deposits de-
creased s17,3O9,0OO.
The Federal Reserve Bank of New
York reported another large increase
in bills discounted and bought.
Through discounting operations the in
stitution added approximately s63,0O0,-
900 to it's holdings of commercial paper
last week. The gold settlement fund
decreased from s120,69S,0oO to $751;
10000.
The actual condition of member
banks shown by the Clearing House
statement yesterday follows:
New-York tribune., 1918-04-21

(via LondonD, April 2o.-The state
ment of the Imperial Bank of Germany
fer the week ended April 13 shows the
QllNWinrr oh In rl.
New-York tribune., 1918-04-21
New York State and City Bonds
Railway, Other Corporations

- ----------------.
N Y City 4 4l2s 1868
1000. :. 93L4l
New-York tribune., 1918-04-21

siIver.--Bar silver in London was
asAd, an increase OF Nd: New York,
37Mc, an advance of Nc; Mexican dol
lars, tic, unchanged.
Suh-Treasury. --- The banks lost to
tho Sub-Treasury yesterday $4,000.
Discount Rafes.-~-Thc following table
gives the current rates OF the twelve
New-York tribune., 1918-04-21

Bank Acceptances.-An active mar
ket continues in bank acceptances, with
rates steady, as follows:
Thirty Sixty Ninety
Spot de- days. days. days.
livery: Per cent. Per cent. Per cent.
Eli gible
m m ber
banks :. .4M@4 4R 04n 4fs @4h
F. igible
non mem
Der banks4n@4Is 4h@4h 4h @4h
Ineligible
bank bills.5M@4s4 5l4@4a4 5I4@4N
For delivery within thirty days:
Per cent.
Eligible member banks......... 4sa
Eligible non-membcr banks. -. 4M
Ineligible bank bills. :......
New-York tribune., 1918-04-21

Loans, discounts, invest
ments, etc. $4,4s6, ,73o, 900
Cash in vaults of Federal
Reserve members ..... 1o4,741 900
Reserve in Federal Re-
serve banks .......... 515,387 900
Cash in vaults of state
banks and trust cos... 17,296,COO
Reserve in repositories. 8,217,,OOO
Net demand deposits. 80. 1888 ,5O3,00O
Net time deposits. 179,154000
Circulation ........ 35,941 900
Aggregate reserve ....... 54o,900o0o
Excess reserve .......... 41,672,o00
United States deposits deducted,
$302,S70,0 900.
The sun. [volume] (New York [N.Y.]) 1916-1920, 1918-10-22
ON BROADWAY.

As usual during the noon lunch
hour. there were many pedlers who
attempted to beguile the moving
masses into purchases. One in part Gu
lar offered for cents a small PAM
phlet with a glazing cover bearing
a distorted and inartistic design. This
booklet was vociferously advertised as
the "Kaiser's Bible" There seemed
to be no response to the pedler's ap-
peals. The passersby displayed no in
terest In the biblical work Of the Ger
man Emperor.
But an elderly lady. clothed in deep
black, and wearing severest mourn
Ing adornments, stepped from the side
walk toward the bookseller. Her face
was marked by heavy lines OF de-
preston. She wore a small black SER
vice pin with a gold star on the lapel
OF her serge coat. And she who from
all appearances had given to the cause
that which could never be regained.
that which could only be returned as a
proud and cherished memory. bought
one OF these miniature volumes. She
looked at the blurred red letters OF
War" and THE Kaiser's Bible" on
the cover with apparent satisfaction,
and slipping the book into her bag
returned to the walk.
The interminable crowd passed on,
and after a short period of continued
hut unsuccessful endeavor the pedler.
having disposed Of but a solitary copy,
disappeared.
The sun. [volume] (New York [N.Y.]) 1916-1920, 1918-10-22
Two New ACKNOWLEDGEMENTS.

The Presidents recommendation
hat MaJor-General HUNTER LIGGETr
and ROBERT L. BULLARD be promoted
to the rank Of Lieutenant General
will undoubtedly be confirmed by the
Senate at once. The promotions not
only are rewards to two capable SOL
diers but are necessary for the army.
LIG6ETT and BULLARD are respectively
commanders of the First and Second
Field Armies of the United States in
France, and the proper rank for the
commander of an American field
rmy is the Lieutenant Generalshlp.
PERsHING, who holds the highest of
our military titles, General, COM
mands the group of armies.
With all Its wars, the United
States has not been profigate In the
granting Of the rank OF either Gen.
eral or Lieutenant General. We have
had but six Generals: WASHINGTON
GRANT, SHERMAN, SHERIDAN, PER
cHlNo ulIN NNV ~ laShEh II. DLlSS,
the American representative In the
Allied War Council, Is a General by
brevet. Our Lieutenant Generals have
been WASHINGTON, Scorr, GRANT,
SHERMAN, SHERIDAN, ScHoFIELD,
MILES. YOUNG. CHAFFEE, BATES, Cor
Rim and MACARTHUR. OF these only
NELSON A. MILES, SAMUEL b. NJ.
YOUNG and JOHN c. BATES are still
living, all three now close to the age
OF eighty years.
GRANT was the only soldier Of the
civil war who was honored with the
rank Of Lieutenant-G General before
the end Of the struggle. SHERMAN
gained his third star when GRANT
became General in 1865 and SHEm.
The sun. [volume] (New York [N.Y.]) 1916-1920, 1918-10-22
MR.. M'ADOOiS MENU.
The Suggestion Of Deficiency Is Tn
gratefully Raised.

To THE EDITOR or THE suS-sir: 1
read with much Interest your editorial
article on "Director-General McAdoo's
Little Masterpiece" You neglected to say
that the railroads always have regarded
dining cars as eonveniences to the pub
lie, II not as advertisements. and al
ways have charged less for meals than
Is charged by restaurants OF the first
Gloss" You neglected also to state
whether or not some one will be forced
to pay the deficiency II the meals that
are to be served to soldiers in dining
cars and railroad restaurants for rs
cents should happen to cost more than
that amount.
This evening paid 81 cents for the
following dinner at the Y. w. C. A..
ca,eterla at Allentown: Escalloped
Oysters. corn, beans, home made rolls
with Ll' or, pineapple and cheese salad
mayonna,2 dressing, coffee, cherry ice
cream. No TIP.
OF course the cost OF operating a
dining car is proportionately much
greater than that OF operating n cafe
terra. Y.
ALLENTOWN. Pa. October 81.
The sun. [volume] (New York [N.Y.]) 1916-1920, 1918-10-22

deems them satisfactory and suf-
ficient the present German Govern
men can properly claim his ear for
further discussion. further appeal.
On his own conditions. the parley
may proceed.
He may properly congratulate the
German Government and ita inten-
ton to reform. He may suitably &C
knowledge Its offer to discontinue
certain illegal and inhumane methods
Of warfare.
But II we interpret correctly the
Presidents temper and the spirit Of
tn. American people who are sup
porting him In carrying this war
onward to a complete and conclusive
victory. any further pariey than that
with Berlin will be confined to o dis
tinct and nnai reference Of the Ger
man application for an armistIce to
the military Commander In Chief Of
the American and Allied forces.
General FERDINAND FocH.
As 1t was MP to GRANT at Appomat.
tox. so is II up to FooH. at whatever
obscure village on the western front
he may be eojourning when the Gag
Of submission in German hands seeks
his headquarters, to say on what
military conditions he Is ready to
arrest his victorious progress
The sun. [volume] (New York [N.Y.]) 1916-1920, 1918-10-22

DAN was made a Lieutenant General
when SHERMAN, upon GRANT's ar
rival at the White House. became
full General. SHERIDAN was Lieu
tenant-General for nearly twenty
years, and he bore the rank when
he watched the battle Of Graveiotte
with the German staff: but II was
not until June 1. 1888. two months
before his death, that his country
voted to elevate him to the rank
that had been enjoyed BY WASHING
TON. GRANT and SHERMAN.
It is evident from the history Of
the bestowal Of the rank Of Lieuten.
ant-General that In this country II has
not been necessity Of war. The rank
has been used to elevate commanding
Generals and Chiefs of STAFF. But
now. with the largest force this coun-
try has ever put In the field. we have
not merely an army. but armies; two
now. and as many more In future as
that future makes necessary. A rank
higher than that Of Major General Is
manifestly necessary for the COM
mander Of q field army Of hundreds
Of thousands Of men.
Major General LIooETr. who is a
veteran Of Cuba and the Philippines
ana former President Of the War
College. has been In active fighting in
Europe since last March. when he was
placed In command Of the First Corps.
Il becnme evident early In the sum-
mer that the First Army would fall to
his command rs soon as II was organ.
lied, for by June he was directing two
complete American divisions under
French commanders II WIS LraoLrr's
First Army that FocH used with such
telling force northwest Of verdun In
the September smash.
Major-General ROBERT LEE BuLLARD
took the place Of General SIBERT. who
commanded the first American troops
that entered the trenches BULLARp.
like LreoETT. Is a veteran of Cuba and
the Philippines. and he WAS Governor
Of Lanao in 19O2-l904. He Is the
quite human man who once remarked
that "a professorship esta bllshed at
West Point for the study Of men and
the best means Of handling them
would pay the army as well as the
present system Of target practice" Ev-
identity BULLARp has not neglected the
study Of man. else we would not find
him In command Of one Of the great
American field armies.
The sun. [volume] (New York [N.Y.]) 1916-1920, 1918-10-22
when Politics ID Not Adjourned.

To THE EDITOR OF THE suH--,Sir: Now
politics Is decidedly not adjourned when
we behold the word victory over a
picture of Mr.. Wilson and In street car
and other announcements the words:
You repudiate Wilson u you elect a
Congress not IN sympathy with his poll
cies. ana please Germany.
An indication (and q decidedly false
one) that Republican Congressmen's
election will please Germany and not
be In support of our war policies.
The facts are that Speaker Clark and
Claude Ktchin voted against the war.
and Chairman Dent OF the Military
Affairs Committee OF the House fol-
lowed suit Also that more Republic
cans than Democrats In Senate and
House have voted for and supported the
war: and, finally. the late Gus Gardner.
Republican Congressman. was the
father OF war preparation" and was
warmly assailed by Democrats for his
action. EDWIN WARREN,
BOSTON, October 81.
The sun. [volume] (New York [N.Y.]) 1916-1920, 1918-10-22
SETTING THE CLOCK.
Timepiece Doctors Disagree on the
Danger Of Setting the Hands Back.

To THE EDITOR OF THE SuN-Str: Your
correspondents warning about setting
back recording and electrically driven
clocks Is correct. but your own brief
editorial note thereon is wrong Every
clock or watch OF ordinary construction
has slip provided in what Is called
the hand SET" and the only injury In
Using this is that excessive setting
hack and forth may wear that part
too loose. Your advice TO set for
ward around the dial Is we'll meant,
but bad; to turn eleven hours ahead
would be eleven times as hurtful us
tn run one hour back.
on all ordinary striking clocks the
minute or long hand should not be
turned backward beyond the XII, as
this d'sturbs the striking gear: on those
the proper way Is to move the hour
hand back one figure. and then make
the clock strike around the dial to the
proper number, using the device for
this purpose which all clocks contain
or should contain. A still better way,
which avoids this trouble. is to stop the
clock for an hour wherever the PEN
dulum OF the movement Is not ina
rine'O ia accessible.
The hour hard OF watch should not
be moved back or forth. the part being
too delicate. Just set It back an hour
by the method described.
Although not a professional watch
maker I may speak with some authority.
for I am now we'll advanced In years
and have been handling clocks since
was very small boy.
JULES WILCOX.
NEW YORK. October 81.
The sun. [volume] (New York [N.Y.]) 1916-1920, 1918-10-22
Scotland Neck Is Running in Massa-
chusetts.
From the Boston HeruId.


The one man IN the country who. in
a peculiar sense. Is running in the COM
ing election In Massachusetts Is Claude
Kitchin OF Scotland Yard. North Caro-
lima. II the Democrats carry the House
of Representatives he will continue to
shape the fiscal policies Of the nation In
its oncomins era OF peace. And every
vote for Mr.. olney In the Fourteenth
district and for Mr.. Phelan In the Sew
enth district is a vote for the retention
of Claude Kitchin In his post OF power.
Now Claude Kitchin voted against the
selective draft, without which the Presi-
dent could not be conducting a success
ful war. According to the National Sc
curity Leagues tabulation OF the votes
for Congressman. Kitchn has one of
the worst records OF anybody OF either
party or either House. He voted
against everything that went for pre-
paredness before the war and for eff
cheney in action after It began. And
he has conducted the fiscal affairs of
should be paid for by the people of the
North. He has lived up fully to the
sentiment attributed to him. but of
which he issued categorical denial,
that "the North wanted the war, now
'et the North pay for H."
1t is true so far as the votes go that
; the Republicans Of the North wanted
the war more than did their Southern
contemporaries. II Is also true. as the
| internal revenue receipts now show,
that the North Is having to pay for t.
Whether we want the Kitchin leader
ship in our national AFFAIRS Is the ques-
ton paramount In the coming contest
between the two parties. II is not a
question OF supporting the President in
! the prosecution of the war. The Re-
nublicans are already doing It, and so
| long as this contrast invites explana-
ton they have nothing 10 gain by CIV
| Ing up their political rallIes-except
he consciousness OF responding to tie
| lear call of patriotic obligation.
The sun. [volume] (New York [N.Y.]) 1916-1920, 1918-10-22
SUNRISE IN BELGIUM.

From "7Ae Beyyv Of Brpoes"
In the market place OF Bruges stands
the belfry old and brown,
Thrice consumed and thrice rebuilded.
still 1t watches DER the town.
As the summer morn was breaking, on
that lofty tower I stood,
And the world threw off it's darkness.
like the weeds OF wtdowhood.
Not q sound rose from the city at that
early morning hour,
But heard a heart Of iron beating in
the ancient tower.
I beheld the Flemish weavers, with
Namur and Juliers bold,
Marching homeward from the bloody
battle Of the Spurs of Gold.
Saw the fight at Minnewater. saw the
White Hoods moving west,
Saw the great Artevelde victorious
scale the Golden Dragons Nest
And again the whiskered spaniard all
the land with terror smote:
And again the wild alarum sounded
from the tocsins throat;
Till the bell Of Client responded Ger
lagoon and dixie OF sand:
II am Roland! am Roland there Is
victory In the land!"
Then the sound OF drums aroused me.
The awakened city's roar
Chased the phantoms had summoned
back into their graves once more.
Hours had passed away like minutes
and before I was aware.
Lo! the shadow OF the oelfry crossed
the sun iIlumined square.
HENRY W. LoNoFELLow.
The sun. [volume] (New York [N.Y.]) 1916-1920, 1918-10-22
Too Late, and Purposely So.

1t is too bad that the Board Of Es-
innate has not seen it to advance
the wages Of first grade firemen and
patrolmen to $500. The request was
justified; In fact 1t was astonishingly
moderate. From the beginning the
aim Of these public servants In respect
Of salaries has been too low.
The first grade men are those of
long service In the two departments.
Most Of them have large families.
The increase Of $50 a year effective
on September was insufficient for
the contemporary needs Of even the
younger men. much more so for those
Of mounting years and settled respon-
~ibllities.
The Board of Estimate adopts the
policy Of quibbling and evasion when
II complains that the first grade fire.
men and patrolmen submitted their
petition too late. 1t WIS sent in sew
eral weeks ago. in plenty Of time for
nction before the budget for 1919 was
closed. Nor Is the Board of Esti-
mate more straightforward In arguing
that the request should have come
from the Police and Fire Commission
ers instead of from the men. The
Commissioners are appointed by and
subject to the will Of the Mayor They
IRE not going to take important &C.
ton without his sanction. 4 hint
from City Hall would have brought a
salary request from Messrs. ENRIdHr
and BRENNAN In Jig time.
The fact that the petition from the
firemen and patrolmen did finally ap-
peN on the Board OF Estimate calen-
dar proves that the rule as TO the
source Of such an appeal Is not In
vlolable. But 1t did not appear until
! last Friday, October is, when the
Board of Estimate well knew that the
required process Of reference to com
mlttee made impossible any action
before October 2O-and after Octo-
Der 20 no Item In the budget for 1919
could be increased. The patromen
and flremen were not too late; the
Board Of Estimate was too late, and
purposely so. And having made sure
that nothing could be done. the board
heaves regretful sigh and laments
How unfortunate. How sorry we
are, dear patrolmen and flremen, that
we cannot do anything for you. Pc
tition filed"
But meanwhile some satisfaction Is
to be derived from the knowledge
that all the patrolmen and firemen
did get some increase this year. In.
sufficient though 1t be. The Board OF
Estimate has also granted for next
year 500 raise to between 10000
and 10000 other city employees, not
counting the teachers. All told the
increases will amount to about
S7OOO,O0O. So the principle that the
great employer, the city of New York
cannot persist In Its laissez faIre
policy of keeping Its employees on in.
adequate wages is established.
THE SUN hopes that after the first
Of the year, when money can be trans.
ferred from one fund to another. or
special revenue bonds might he Issued
In an emergency, the first grade fire,
men and patroImen will renew their
petition and that their Commission.
ers will so act that the Board OF
Estimate will be unable to tell any.
body that he Is TOO late"