davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1918-06-28
New Jersey Bankers
RapEncroachnnent
Of Federal Govt
Form State Association to
Scrutinize National F Finan-
cial Legislation

TRENTON, June 27.-One hundred
and fifty representatives of state
banks, savings institutions and trust
companies Of New Jersey met here to-
day in the State House to "defend the
state financial institutions of New
Jersey" against so-called Federal en-
croachment such as they contend is
contemplated in the Phelan bill pend
ing in Congress. The meeting was
called by Commissioner Of Banking
and Insurance Frank H. Smith.
The delegates launched the State
Association for Bankers and discussed
plans for forming q national organi-
zation to scrutinze proposed legisla-
tion inimical to the banking interests.
On the motion of Commissioner Smith
the five following men were chosen as
delegates to national convention Of
state bankers which will be held in St.
Louis the middle of next month: Ed
ward l.. Farr, president Of the Cam
den Trust Company; John A. Camp
bell, president of the Trenton Bank
ing Company; George A. Bourgeois,
Marine Trust Company, of Atlantic
City; W. J. Couse, Asbury Park Trust
Company, and William Bolton, Of the
Morristown Trust Company.
Commissioner Smith told the repre-
sentatives of the banking interests
that he did not believe the financial
situation. of the country should be in
the hands of two or three men in
Washington and that it was up to the
state bankers to get together and make
articulate what they wanted in the
way Of Federal Hesitation.
U. H. McCarter, president Of the
Fidelity Trust Company of Newark,
was elected president. Other officers
chosen We're: William Field, vice
president of the Commercial Trust
Company of New Jersey, secretary,
and John B. Clements, treasurer of
the Central Trust Company Of Cam
den, treasurer.
New-York tribune., 1918-06-28
Mexican "Pete" Up Again

Mexican petroleum went into new
high ground for the current movement
yesterday, when it sold to 1924, closing
2 points up at 100h. The turnover
in Mexican was 28,4oo shares. This
issue has displayed strong tone for
more than a week, and the rise from
below 95 has taken place despite un-
favorable reports regarding current
conditions in Mexico. 1t is apparently
believed in stock market circles that
whatever happens in the republic south
of the Rio Grande the United States
and British governments will see to it
that the flow of crude from the rich
oil properties in the Tampico district
will not be interrupted.
New-York tribune., 1918-06-28
Dividends in Liberty Bonds

Two corporations declared extra divi-
dends to their stockholders yesterday
payable in Liberty Loan bonds. The
directors of the Virginia Carolina
Chemical Company voted an extra dis
bursement of per cent on the COM
per cent third Liberty Loan bonds at
par, with the understanding that the
fractional parts over or under $50 will
be payable in cash. The American Ship
building Company declared an extra
dividend of per cent. payable in az
Per cent Liberty Loan bonds.
New-York tribune., 1918-06-28
OFFICE or
Yirsinia Carolina Chemical Co

Richmond, Va. June 81, 1918.
The Board of Directors OF Virginia Caro-
lima Chemical Company have this day de-
clared a dividend of ono dollar per share
lso) tbeing Dividend No. 40 on the con,-
stock Of this company, payable Au-
gust I, 1918, to stockholders OF record at
the close OF business on Monday, July Is.
1918. and. whereas the rate of dividend on
the Colnmon Stock has been at go per an
mum since the resumption OF dividends on
the Common stock. the Board of Directors
has declared an extra dividend of 2gs on
the Common Stock of this Company. paya-
BILE October i. 1918. to stockholders OF rec
ord OF September Is, 1918. in 4AE Third
Liberty Loan United States Bonds at par.
with the understanding that fractional
parts over or under 5000 (being the small
est denomination OF said bondD will be
payable IN cash.
The transfer books will not be closed.
S. w. TRAVERS Treasurer
New-York tribune., 1918-06-28
IS nd

At rates now prevailing in the for
eign exchange markets, the dollar is
worth only 70 cents in Spanish
, money, 70 cents in Dutch money, 70
cents in Swiss money and 80 cents IN
Swedish money. In other neutral ex-
changes it is also at discount. And
this depreciation Of the dollar takes
heavy toll from American import
ers and exporters-a toll aggregat-
ing in the course of year tens OF
millions of dollars. 1t is, therefore,
important in the extreme that meas
ures be taken to restore the dollar
to it's normal parity and having done
so to keep it there, as sterling ex-
change has been stabilized in New
York. Otherwise the problem of
financing our trade with neutrals
will become increasingly acute and
further heavy shrinkage in the value
Of the dollar will be inevitable.
The difficulties in the way Of stabi-
lizing the dollar-and incidentally
the exchanges of our allies-are
enormous. That is evident from ex-
perience in Spain. Some months ago
Lord Cunliffe, then Governor of the
Bank of England, went to Spain to
negotiate loan for his institution in
order to rectify the discount against
sterling exchange. The requirements
of the Spanish authorities were so
severe that he found it impossible to
meet them, and was forced to aban-
don the attempt. He was followed
by representative Of the French
Financial Commission, who met with
no better luck. And, finally, ad-
vances made by American banks for
q credit came to nothing because
Spain wanted gold and gold only.
Under the circumstances, there
fore, the suggestion made by Leopold
Friedrich, in his testimony before
the Senate Committee on Banking
and Currency, is of unusual interest,
for if it can be worked out the prob
lem will have been permanently
solved, not only for the United States
but for its allies. Mr.. Fredrick pro-
poses that a committee composed of
representatives Of each of the Allies
coordinate the control Of imports and
exports in such way as to elimi-
nate the buying Of non-essentials,
which has contributed largely to the
discount of Allied exchanges in neu-
tral markets, while at the same time
arranging for credits in such mar
kets. In addition it is proposed that
syndicate headed by the state
banks Of England, France and Italy
and the Federal Reserve Board, as
we'll as other leading banking insti-
tutions of the countries named, be
formed to provide Immediately a
credit fund Of at least $500,000,000,
jointly guaranteed. Briefly stated,
the proposal calls for unity of COM
mand in international finance and
Allied buying. 1t is plan to which
the authorities might we'll give seri-
Gus consideration.
New-York tribune., 1918-06-28
Tobacco Merger Talk Belittled

The comment of high official of the
United Cigar Stores Company yester-
day concerning the reports that a
merger Of this concern with the To-
bacco Products Corporation and the
American Sumatra Tobacco Company
was under discussion was that there
was little likelihood that such COM
binatlon would ever go into effect A
similar statement was credited TO an
poration. While the stocks of the three
companies opened at higher prices on
The Stock Exchange, the earlier gains
were soon lost, and the closing quota
tions registered the following losses,
compared with Wednesday: American
Sumatra, 19s; Tobacco Products, ss;
United Cigar Stores. Il.
New-York tribune., 1918-06-28
DIVIDEND NOTICES
ANACONDA COPPER MINING {

ANACONDA COPPER MINING co.
AZ Broadway. New York, June 95, 1913.
The Board OF Directors of the Anaconda
Copper Mining Company has declared u
dividend OF Two Dollars t$2.0o) per share
upon It's CAPITAL Stock Of the par value OF
to the holders OF such shares OF record at
the close OF business at ~ o'clock. Noon
Saturday. July 90. 1918.
The dividend is payable only upon the
$50 shares into which the Capital Stock is
now divided
All stockholders who have not converted
their holdings into shares OF $50 par value
should do SO without delay in order that
they may receive their dividend promptly.
A. II. MELIN Secretary.
New-York tribune., 1918-06-28
The Dollar in Foreign Exchange

Italian exchange developed a strong
tone in yesterdays market and the rate
went to S.34M lire to the dollar, the
highest level since early in the year.
The fresh Improvement in the position
Of the rate on Italian exchange is
ascribed to the successful working of
the new plan recently put into opera
tion to stabilize lire bills in London
and New York.
Other exchanges moved narrowly yes
terday. Spanish pesetas were easier.
Rates ON Paris and London were steady.
Closing rates yesterday, compared
with week ago, follow:
Quoted dollars to the pound.N
New-York tribune., 1918-06-28
Relevant Comment
Women as Bond Sellers

Twenty young women were graduated
yesterday from the National City
Company's School of Bond Sales
manship. They celebrated their COM
mencement with luncheon at the
Bankers Club. Fifteen men were also
in the class, which was instructed by
John B. Young, who will be in charge
Of the National City ,Company's new
branch, which will be opened at Forty
third Street and Fifth Avenue next
month. This is the third class which
has completed course under Mr..
Young.
New-York tribune., 1918-06-28
Securities That Never Decline

They are dealing in security on the
Stock Exchange that never declines in
value. A post has been established
temporarily on the floor where war saw
ings stamps can be purchased to the
full limit allowed under the law. An
nouncement was made yesterday that
any one desiring to buy the limit in
the stamps could do so by telephoning
his broker before l o'clock. the order
being executed on the exchange.
New-York tribune., 1918-06-28
No st. Paul Dividends

Directors of the Chicago, Milwaukee
& st. Paul Railway Company, at their
regular monthly meeting yesterday,
failed to make any announcement con-
cerning the company's dividend policy.
This was the sixth occasion that no
action has been taken on either the
preferred or common issues.
New-York tribune., 1918-06-28
GENERAL MOTORS coRroRArIo.

The Board of Directors of General Mcssss Messss
Corporation has declared the quaat.sstss ~
dividend of $3.50 per share upon sncEtn snc
August 1. 1915, to holders of preIss.sssS
stock of record at the close Of cesas3tS astsS
July Is, 1918: and also the quarte1iy Ssi5 81
dend OF $500 per share upon ths 49,
stock of the Corporation rayncis s.sSr #
record AZ the close Of business ~ IN
1915. II. II. RICE. xfssss
New-York tribune., 1918-06-28
DIVIDEND NOTICES
UNITED FRUIT COMPANY
DIVIDEND NO. rs

a quarterly dividend of two per cent
1.-TWO dollars per share) on the capital
stock of this Company a2s been declared
payable on July 18th. 1918. to stockhold,
ers of record at the close OF business
June 20, 1918.
JOHN W. DAMON, Treasur9
New-York tribune., 1918-06-28
DIVIDEND NOTICES
OFFICE OF
Virginia Carolina Chemical Co..

Richmond. Va. June %. 1918.
DIVIDEND NO. 81.
The Board of Directors OF Virginia Caro-
lima Chemical Company have this day de-
clared the Dist consecutive quarterly divi-
dend OF SO per share t29o) on the preferred
stock Of this company. payable Monday.
July Is, 1918, to stockholders Of record at
th. close OF basiness on Monday, July 8,
1918.
Transfer books will not be closed
s. w. TRAVERS. Treasurer.
New-York tribune., 1918-06-28
Elections

"A. {. Rearick has been elected di-
rector OF the Hooking Valley Railway
company succeeding George w. Ste
l.. D. Ricketts, has been e,ec+od
vice-president os the Greene. .Canonoaa
Copper Company. ''''''ea
New-York tribune., 1918-06-28
THE pIERcE-ARsox MOTOR CAR coxlII

A dividend of sl2G per share on the cen.
mon stock OF this Company has been g. y.
clared by she Board OF Directors. passsssss
August j, 1915, TO stockholders o. reeD'-
at the close of business July Is, 1919
WALTER c. WRYE. Treasurer
New-York tribune., 1918-06-28
THE BANK OF AMERICA.

New York. June 18th. 1919.
The board OF Directors have to-day de.
clared a semi-annuaI dividend OF fourteen
tl4l per cent, free of tax. payable July ist
lslS. to stockholders OF record OF this date
the transfer books will y.main closed
until July End, 1918.
w. NJ. BENNET. Cashier.
New-York tribune., 1918-06-28
WELLS FARGO 4 COMPANY

QUART ERLY DIVIDEND
quarterly dividend of $lh per shaSs
upon the capital stock of this Compxn!
has been declared payable July 10th. isls
to stockholders of record at tho close o.
business June 18th, 1918. The Transfer
Books will close at 300 O'Clock P. NJ
June 18th. 1918. and be re-opened at tas
opening of business July 18th, 1918 Cheeks
will be mailed
c. H. GARDINER, secretary
New York. June 81. 1918.
New-York tribune., 1918-06-28
lusbsIrlon CONSOLIDATED COPPER cesM

The Directors have declared . dist5ss,s v.,,.
Of $2o0 per share. payable Monday ~ y
20. 1918. TO stockholders OF record - -
o clock p. NJ Friday. July ~. 1sls.
j. W. ALLEN. Treasufss
New York, N Y, June "a, 1918.
New-York tribune., 1918-06-28
Money and Credit

Conditions in the money market
were unchanged yesterday. At the
Stock Exchange call money was in
fairly liberal supply at Ak to per
cent. the same rates as on Wednesday.
In the market for fixed date funds a
few small loans were made at per
cent on industrial collateral for sixty
and ninety day periods. The demand
for time funds continued active. with
borrowers offering 5A per cent for
loans on industrials and 51a per cent
on mixed collateral.
Ruling rates for money yesterday,
compared with year ago, were as
follows:
Yesterday. Year ago.
Per cent. Per cent.
Call money:
On mixed collateral aye S
On industrial col't' S 5L5
Time money (mixed collateral):
Sixty days. .... 5s4@6 S
Ninety days. 534@6 s
Four months..... 5s4@6 S
Five to six months 534@6 S
Commercial Paper.-A larger volume
or business is moving, swith rates
steady at 6 per cent for the best regu-
lar maturities.
Bank Clearings.-Bank clearines yes
terday in New York and other cities
were:
Exchanges. Balances.
New York. -. .$596,785,47t $40,65e,557
Boston ....... 5s,648,94S 15,61s,2o8
Chicago ...... oo,775,032 e,206, 1893
Philadelphia. :. 66,s67.132 14,92s.318
Sub-Treasury.-The banks gained
from the Sub-Treasury yesterday
s754,0o0.
Silver.--Bar silver in London was
4S&d, unchanged; New York, 99hc,
unchanged; Mexican dollars, TIC, un-
changed.
Bank Acceptances.--Easer money
conditions have increased the current
demand for bank acceptances. Dealers
quoted the following rates yesterday:
Thirty Sixty Ninety
Spot de- days. days. days.
livery: Per cent. Per cent. Per cent.
f igible
m m Der
banks. .4A@4 4h@4h 4A@44
e igible
non-mem-
ber banks.4h @4Is 4ss@4l4 4n@4h
! n eligible
bank bills.5M@4s4 5l47434 5l4@474
For delivery within thirty days:
Per cent.
Fligible member banks ....... 4Ls
Eligible on-member banks. .... 4ss
ineligible bank bills. ls..........
Discount Rates.---7'Ee following table
gives the current rates OF the twelve
New-York tribune., 1918-06-28

Canadian Bank Statement.-OTTA-
WA, June 27.-The statement of the
chartered banks Of Canada, as of May
81 last, compared with a year ago, fol-
lows
New-York tribune., 1918-06-28

London Money Market.-LONDON,
June 27.-Money was firm at 8 per cent
Discount rates were: Short bills, 8 u
per cent; three month bills, Gle per
cent. Gold premium~ at Lisbon were
at 10000
New-York tribune., 1918-06-28
American Telephone & Telegraph Co

Ameftcan IeIePhone q Telegraph w
-Four Per Cent Collateral Trust Bcnes
Coupons from these Bonds. psyabls
their terms on July I, 1918. at the onace y
the Treasurer OF the Company In SsS
York. will be paid by the Bankeu TsSss
Company. Is Wall Street.
6. p. MILNE. Treasurer
New-York tribune., 1918-06-28

81 last, compared with year ago, fol-
lows:
May 81. rs. May 81, II.
Circulation ...$181 1,Se9,e59 $142,653,5 ,596
Demand dep'ts. 535,655,731 443,839,847
Notice deposits 947,757,337 S92,562,657
Dep'ts elsew'h'e 4,173,285 206,682,376
Gold ......... 76,570,586 71,931,047
Dominion notes 177,655,477 126,238, ,e05
Call loans Can. 78,466,582 78,514,798
Call loans else. 172,259,879 168,692,675
Cur. loans Can..894,817 ,113 844,890,589
Cur. loans else.. e9,3Go,926 $685. 3,197
Bank of England.-LONDON, June
27.-The weekly statement of the Bank
of England shows an increase in gold
holdings of e1,O22,231. The proportion
of reserves to liabilities now stands at
1922 per cent, compared with 1877
per cent a week ago. The statement,
with the changes from last week, fol-
lows:
Gold .265, ,224,957 Inc. S1,022,231
Reserve 800. 30,419,000 Dec. 268,000
Notes reserve 2e,57e, 900 Dec. $4,000
Circulation. :. 53,675, 900 Inc 100000
Public dep'ts. 35,os7, 900 Dec. $4,000
Other dep'ts.. 128,970,0oo Inc. 1862, 600
Govt sec. .... 51,652, 900 Dec. 2,098,0O0
Other sec. 80. 98,783, 900 Inc. $4,000
Bank of Germany.-The statement Of
the Imperial Bank of Germany for the
week ending June % shows the follow
ing changes, in marks:
Total coin and bullion. Inc, 425,000
Gold Inc. 105, 900
Treasury notes. Dec. $4,000
Notes of other banks. Inc. 421,000
Bills discounted. ...... Dec. 1o4 4,654,0o0
Advances Dec. 4,679,000
Investments Inc. 7,584,OOO
Other securities. es....... Inc. 66,592,000
Notes in circulation. Inc. 5,463,O0O
Deposits ..............ln Inc. 213,421, 600
Other liabilities. Dec. 56,474,O00
Total gold holdings, 2,346, ,064, 900.
Bank of France Statement.-PARIS,
June 27.-The weekly statement Of the
Bank of France shows the following
changes in francs:
Gold in hand ......... Inc. 2,382,000
Silver in hand. d......... Inc. 3,262,000
Notes in circulation. Inc. 1856, 10000
Treasury deposits. Dec. 3O,763,0OO
General deposits. ...... Inc. 91,161,000
Bills discounted. Inc. 200
Advances .............D Dec. 23,3o5,OUU
London Money Market.-LONDON,
June 27.-Money was firm at 3 per cent.
Discount rates were: Short bills, 3&
per cent; three month bills, 3 Gle per
cent. Gold premiumS at Lisbon were
at 10000.
New-York tribune., 1918-06-28

Bank of France Statement.-PARIS,
June 27.-The weekly statement Of the
Bank of France shows the following
changes in francs:
New-York tribune., 1918-06-28
Market Barometers
Stock Exchange Transactions

Day Year
Yesterday. before. before.
U. S. gov. 81, 10000 $4,e3t, 900 $4,000
Railroads. $4,000 $4,000 737, 900
Others =. 1.205000 1907, 600 975,000
All bonds e,518,Go0 6,511,ooo 2,4a1 600
January I to date:
New-York tribune., 1918-06-28

Current
exchange Intrinsic
value. calue.
Pounds, sterling. ..... .$4.75sk $4.soss
Francs ............... 0.17.4 0.1e.3
Guilders ..,.......... 0.49.75 O.Ao.2
Rubles ..-............ 0.13.25 o.51.2
Lire. checks .......... 0.11.25 O.1e.3
Crowns (Denmark). -. 0.31.o5 o.26.S
Crowns (Sweden).. 80. o.35.70 O.26.8
The above rates express the cost of
foreign money in terms of the Ameri-
can dollar. You buy an English pound
sterling at, say. s4.75ss. The intrinsic
parity is *4.86ks per pound. Thus YOU
say either that pounds are at q dis
count or that dollars are at premium.
which is owing to the fact that in Eng.
land the demand for dollars with which
20 settle accounts in this country is
greater than the demand in this counh
try for pounds with which to settle ac-
counts in England.
New-York tribune., 1918-06-28

Bank of Germany.-The statement Of
the Imperial Bank of Germany for the
week ending June % shows the follow
ing changes in marks:
New-York tribune., 1918-06-28

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., 1918-06-28

Commercial Paper.-A larger volume
OF business is moving, with rates
steady at s per cent for the best regu-
lar maturities.
The review. [volume] (High Point, N.C.) 1908-19??, 1918-03-07
announcement Counts.

In every town there are a few of
taste and purpose who will take the
helm. To thoroughly arouse public in
terest is a long and ardCous task.
Make a beginning. Results will at
tract attention and gain support. 1t
was Gladstone who said: zone ex-
ample is worth a thousand argu-
ments." Organize, interest the local
press, interest this department, your
efforts and progress will cheerfully
be given place and encouragement in
these columns. Every year of the
past decade Mr.. Reed has written
thanks for substantial aid given
''Reed and Riverside" in city beautifi-
cation. In very recent letter, in re-
viewing the progress of street plant
ing in Riverside, he writes: 81 re-
member very distinctly the very eff
cient aid I received through the City
Beautiful department of the Times"
Let us hear of your work, no matter
how humble or how small the COM
munity-aid and encouragement will
be extended to all alike.-Los Angeles
Times.
The review. [volume] (High Point, N.C.) 1908-19??, 1918-03-07


with apple, potato or other vegetable
for q salad, or used as stufHng for
boiled onions and then baked or In
white sauce on toast. Other ways will
occur to the progressive woman, to
dispose Of bits of chicken Or other
meats making palatable dishes.
Cheese is a food which should be
more commonly used. 1t is highly
nutritious, very concentrated and with
no waste. Compared to many of our
high-priced meats it is economical and
OF meat as to food value.
CornmeaI Muffins.-Sift together
three times one and half cupfuls of
flour, three tablespoonful of sugar,
one and a half tablespoOnfuls Of corn
meal, half a teaspoonful of salt, three
teaspoOnfuls of baking powder, then
add three-fOurths of a cupful of milk,
two well-beaten eggs, three tablespoon
fuls of melted shortening, mix and
beat we'll, then pour into buttered
muffin pans and bake twenty minutes.
coconut Indian Pudding.-Mix to-
gether one tablespoonful of fresh
grated coconut, two tablespoonful Of
Indian meal, one tablespoonful of min
ute tapioca, One-half cupful of mOlas-
SEES, One-fOurth of a cupful of sugar,
one tablespoonful of shortening, one
quart of milk and salt to taste. Pour
into buttered dish and bake two
hours. Serve hot with cream.
Fig and Nut Pudding.-Stir half
teaspOonful of salt into two cupfuls
of boiling water, add a half cupful of
sugar and stir in enough graham flour
to make a mush. Cook q half hour,
then add a half cupful of chopped figs
and few finely chopped Brazil nuts.
Serve with whipped cream. This is
an emergency pudding which will be
good enough to try again. Raisins or
dates may be substituted for figs and
other nuts may be used if desired.
The review. [volume] (High Point, N.C.) 1908-19??, 1918-03-07
PUTTING YARD TO BEST USE
Bulletin Of Department of Agriculture
Gives Some Valuable Information
to Those Interested.

The best methods to follow and the
best crops to grow in order to make
a small area like back yard produce
the maximum amount of food for the
family are discussed in a publication
of the United States department of
agriculture, Farmers Bulletin S1S,
''The Small Vegetable Garden" In
addition to furnishing information in
regard to the fundamental principles
of gardening, this bulletin describes in
detail the culture of all of the common
garden plants, and also furnishes ia
BILE showing in a concise form the
quantity Of seed needed for each kind
of vegetable, the proper way and times
to plant, and the material required to
produce the crop.
To make a small area produce a
large amount of food, the bulletin
points out that not only every foot Of
available space must be utilized, but
that late or succession crops must be
planted as soon as the earlier plants
have been removed. To carry on gar
dening in this intensive way requires
careful planning in advance, and it is
recommended that a detailed diagram
Of the garden be drawn up and the va
rious uses that it is planned to put
each portion to, throughout the grow
ing season, be clearly indicated. On
this plan the success or failure Of the
various enterprises should be noted
and the plan itself kept as a guide for
the following year.