davidaulloa/AmericanStories huggingface dataset:
McNairy County independent. (Selmer, McNairy County, Tenn.) 1902-1969, 1918-02-01
Milk Cows fer Sole

We offer a few iae gonar milk
cows with young calves, at $G5 to
SIS each; cash or terms.
SOUTHERN FARM GeoNHoUND KEN
NELs, J &. Williams, Mgr.
McNairy County independent. (Selmer, McNairy County, Tenn.) 1902-1969, 1918-02-01
Candidates Announcements

We are authorized to announce
CHESTER A. SCOTT a candidate for
recollection TO the Office of Register,
subject to the will of the republican
party.
McNairy County independent. (Selmer, McNairy County, Tenn.) 1902-1969, 1918-02-01
Change of Schedules, Mobile G.
Ohio r. R.

Effective Dec. 9th trains will leave
Selmer, Tenn, as follows:
NOrthbouud
New-York tribune., 1918-09-25
Cotton Plan May
Obviate the Need
Of Price Fixing
Chairman Page Expresses the
Hope That Government Buv-
ing May Solve Problem

WASHINGTON, Sept. 24.-Hope that
operation Of the cotton distribution
committee in purchasing at prices TO
be approved by the President all cot
ton needed by the government and the
Allies Will so stabilize the cotton in
dustry that general price fixing will
not be necessary was expressed TODAY
by Chairman Page of the special com
mittee named to investigate the cotton
situation.
Chairman Pages COMMITTEES began its
hrst work to-day, but Mr.. Page said
mat no statement OF the progress Of
the inquiry was to be expected until
the effect OF the work of the cotton dis
triDution committee is felt. That COM
mlttee was named yesterday
Protests against the government fix
ing the basic prices for cotton marked
the beginning of the deliberations Of
the Committee of Inquiry. A deleea-
ton from the cotton states Advisory
Marketing Committee appeared before
the body late to-day after conferrinp ~
the Capitol with Senator Smith. of
South Carolina, and other Senator's
from the cotton growing states who
nave been active in opposing pricefx-
ing. j. j. Brown, Georgia State Com.
missioner of Agriculture, headed The
delegation and voiced what he said was
the protest of the cotton growers
against the establishment of prices nv
the government. He said the farmers
oeheved the law of supply and demand
should govern.
New-York tribune., 1918-09-25
Credit Extended
To Finance Grain
I'm Warehouses
Dumping of Farm Products
on Market Clogs Ex-
port Machinery

Owing to the unprecedented rapidity
with which the American farmer is
marketing his crops, the United States
Grain Export Corporation, which is a
part of the emergency machinery for
handling the country's grain exports,
larger banks in New York for tenn
porary acceptance credit. approximate
ing S50,000,000, to finance grain in
warehouses in different parts of the
country until it can be converted into
cash.
Similar operations are being carried
on in other large cities of the country,
and it is understood that the total
amount borrowed by the corporation
may run we'll over the local credit A
gram man, in explaining the purpose
oil the credit, said yesterday that the
Federal corporation had found its
present capital of S150,OOO,O0O made
Quate to finance the marketing of the
crop. and in order to help the producer
III getting off his wheat and other
grains it had been found necessary
TO borrow from the. banks on accept
ances These credits are self-liuuidat-
ing, for as soon as the grain securing
them is disposed of by the Federal
corporation they will be paid off.
Attention was called to the fact that
because of the fixed price for wheat
and corn the American farmer this
year has no reason for holding these
crops in hopes of obtaining higher
price. As result he has been dump
ing his products on the market at a
record-breaking rate, Arrivals of
wheat, corn and other cereal grains at
Chicago and other primary markets
have been abnormally heavy for sew
eral weeks. The speed with which the
grain is leaving the farms is choking
the export machinery and has made
necessary the storage Of much larger
quantities than usual at this time of
year.
New-York tribune., 1918-09-25
Would Prefer Govt
wners hip to
Present r. r. Plan
Untermyer Says Nationaliza-
ton Would Be Much Fairer
to Security Holders

CHICAGO. Sept 24.-Government
ownership of railroads has no terrors
for Samuel Untermyer, according to an
address which he, as general counsel
for the Railroad Security Holders
Committee. delivered day before the
American Bankers Association in this
city. His formal subject was THE On,
Grating Contract and the Future of
Railroad Securities Hereunder"
He said the war is going to end
much of the injustice of the old So
cial order but he also put himself on
record as opposed to socialism, which
he called can unworkable scheme" and
an "idealistic, iridescent dream"
He said government ownership of
railroads would be more advantageous
to the government and vastly more Just
to security holders than Federal con-
troll under what he called "the onerous
conditions of this operating contract" i"
He added that this lack of government
ownership extended beyond the rail-
roads to telegraph and telephone lines
and to natural resources, such as for
csts and mineral deposits.
In order that many of the $500 men,
bers of the American Bankers Associa.
ton in attendance at the forty fourth
annual convention here may reach
their homes in time to take part in the
opening of the fourth Liberty Loan
campaign, the convention will close on
Friday night instead of on Saturday.
as provided by the constitution. That
this may be done, it has been decided to
adopt the proposition by unanimous
consent at the first regular meeting of
the association as whole, which will
be on Thursday. The announcement of
this purpose was made public o-day
alter canvass of the members.
Sectional meetings took up the time
ct the bankers to-day. the preliminary
work having been cleared at the formal
opening of the body yesterday. The
sections IN session too day were the
clearing house, savings banks. trust
companies, state banks and Joint
meeting of the national and savings
banks and trust companies sections.
New-York tribune., 1918-09-25
Relevant Comment
New York's Bit in the Loan

New York and the rest Of the Second
Federal Reserve District have been
called upon to raise in the fourth
Liberty Loan approximately two-thlrds
Of the final allotment of bonds in the
first, second and third loans combined.
In the first three loans $2,860, 0,1o2, 700 OF
Liberty bonds was allotted 70 this dis
trict, upon which Secretary McAdoo, III
his address at Carnegie Hall last night,
called upon to subscribe 81 800, ,0O0.00o
in the threc-weck drive which opens
Saturday. This amounts to 80 per cent
Of the total which the twelve reserve
districts are called upon to collect. In
the nineteen working days of the cam
paign nearly 800 100000 a day will be
needed to fill the quota of this district,
and in the previous loans the Second
Federal Reserve District has striven
and accomplished heavy oversubscrip-
lions. The attitude of bankers is that
the money will be raised because it has
to in order that the war programme
may be carried to a successful conclu-
sion
New-York tribune., 1918-09-25
FINANCIAL MEETINGS
SOUTHERN PACIFIC COMPANY.
NOTICE OF MEETING.
l65 Broadway, New York, n. z


a Special Meeting OF the stockholders Of
a. the Office OF this Company In Anchorags
Jefferson County, KENTUCKY. on Wednesday
October 9, 1913. at IL clock noon. stand.
ara time for the following purposes, viz:
10 authorize, approve and ratify C) the
execution and delivery of a contract or con-
tracts between this Company separately or
yolm,Iy Win any one or more or all Of In
proprietary and affiliated companies "a
party or parties OF the first part. and the
United States, or It's representative. ae
party or the second part. relating TO the
use and control OF the railroad and system
or transportation. and its appurtenances Of
thls company and Of such of It's propris-
tary and AFFILIATED companies II any aa
shall be parties TO such contract and 10 tts
operation. maintenance and return of such
properties and to any other matter con.
nscted WIN or growing out Of the taking
owe. OF the SAID properties by the President
OF the United States, and (2) any action Of
the Board of Directors of this Companx 81
respect thereto; to authorize the said p'.rd
% TO alter, amend add TO such con.
tract, % 10 collect the compensation TO bs
PAID unuer such contract. and, II said con-
tract De joint. TO agree with the other
companies parties thereto as 10 the division
OF said compensation and to take all such
other and further action as the said Board
ehalI deem necessary to secure adequate
maintenance and a timely return OF ths
properties SO taken over. and generally TO
Conslder and act upon any and all questions
and matters Incidental to the PURPOSES
aforesaid or growing out OF the aforessid
Federal Control OF properties of this Cone
panies.
For the purposes Of the meeting the books
for the transfer OF stock will be closed at
clock r. M. Tuesday. September "a. 1913.
sr1l ano VIII be reopened at 10 o'clock A y.
thursday. october 10. 1918.
BY order OF the Board OF Directors.
HUGH NELL. Secre.Ary
New-York tribune., 1918-09-25
Short Line Roads
Stop Negotiations
Declare Terms of Railroad
Administration Are "Impos-
sible and UrIivabIe"

WASHINGTON. Sept 24.-Proposais
OF short line railroads for modification
ol the form Of contract with the rail-
road administration. under which short
line railroads would again return 10
goveramcn; control, were rejected to-
Gay by the railroad administration and
counter proposals of The administra-
ton we're refused BIZ the short lino
repre- sentAtivcs. Negotiations. which
have SecH under way for several days,
wee suspended indetinitiy. and several
fun4"ed short lines. which claim thcy
a. operating at n serious DISADVANTAGE
n competition with government man
9N"c roads. viii continue to operate
privately.
R"iroad administration officials char
i''ierizcd tho short lines demands rs
ex,ortionate. The American Short Line
EHilroac association gave out state
TIE ra'lroed administration as ";mnos-
Sible and unlivabie."
New-York tribune., 1918-09-25
STEWARD DAyIT q EQUIPMENT CORP.
NOIlCE OE SPECIAL. STOCK tiOI .QEES'

NEE l4>J-
NOTICE is HEREBY GIVEN that a Spe-
cial meeting of the stockholders q
STEWARD DAVIT & EQUIPMENT COR.
fCRAT!ON will be held at its principal
Office. II Battery Place. New York City. on
Wednesday, the ninth day of October. 1915
at O'Clock in the afternoon, for the follow
Ing purposes
/. To authorize an alteration and amend.
ment OF the certificate OF incorporation or
said Corporation. and to authorize the fline
OK an amended certificate Of incorporation ot
SAID Corporation. further rest stricting the pay.
ment of dividends upon Its second preterreo
stock.
:. To amend the Bylaws OF said Corpora
ton, regulating the execution OF checks OF
other negotiable Instruments OF said Cor.
poration and regulating the amendment OF
its bylaws: and
3. To transact such other business may
come before the meeting
Dated New York September *. 1918.
BY order OF The Board OF Directors
ROBERT BRUCE STEWARD, President.
j. c. COTTRELI4, Secretary
New-York tribune., 1918-09-25
American Smelling
Just Earns Common
Stock Divid end
Many Refining Works Run
at Loss Because of
Mounting Costs

With many of its principal smelling
and refining works actually running at
a loss because cf the high cost Of
operations. the American Smelling and
Refining Company barely earned the
per cent dividend on its $60,998,000
of common stock in the first half of the
current year. The report for the six
months period, issued to the stock
holders yesterday, showed a balance Of
S1,943,S12 available for the Junior
stock, after all charges, equivalent to
800 per cent, or at an annual rate of
$40 per cent. This compared with
earnings Of approximately II per cent
in the corresponding period of 1917, or
an annual rate of "a per cent.
The company began to feel the effects
of the rising costs of labor and ma
terial in 1917. In explaining to the
drop in earnings in the first six months
of 1918, Daniel Guggenheim, president,
said:
THE situation became even more ag-
gravated during the first half of this
year. The costs of operating our
various works continued to increase,
and our contract charges to mines re-
manned fixed. Many of our principal
smelling and letlning works were
actually running at a loss, but the
board of directors decided that the war
situation would not permit the closing
of these works, as the various metals
produced by the company, and es-
peclally copper, were in urgent demand
by the government Of the United States
and the various allied governments
The company was obliged, therefore
to lay the situation before the various
mining companies with which it had
longtime contracts, with a view to so
amending the contracts as to allow the
company a living return for the ser
wees rendered.
The board is pleased to report that
an adjustment has keen agreed upon
since the close of the semi-annual
period. with most of our important
contracting mining companies. in some
cases dating back to April /, which
/ together with the improving situation
in Mexico, permits the company to re.
port earnings equal to our usual diyi
dend requirements"
Gross income of the company in III,
SIX months amounted to S9.745.525 ,
decrease of $9,O12,373, compared with
the corresponding period of 1917. Ne
income, before dividend deductions
totalled S4,068,S21, decrease of s6.
l33,2SS. lhe company set aside SI.3l3.
33337 for corporate taxes, including esti
mated federal taxes, compared with
S3,889, SCI in the first half of last wear
The reserve for depreciation and de
pleton of ore reserves was s2,597.56
against S2,396,l'3 in the corresponding
period of 1917.
The balance sheet as of June 30 las
showed cash on hand and in transit O.
Ss,186,s5O, decrease of S2,714866 from
the figure reported as of December g
last. Loans and accounts receivable in
creased Sl,260,667, to total of s19.
oe''o43 Ore, bullion and factory pro
553,S91.
New-York tribune., 1918-09-25
Wealth Markets and Commerce @

aim Of the management to maintain
in all matters affecting the relation OF
the companies to their employees.
Midvnlc Willing to Bargain
ave recognize the right Of wage
carncrs to bargain collectively with
their employers, and we hereby invite
all employees to meet with the officers
Of their respective companies for the
purpose Of considering and, If prac-
ticablc, adopting plan of representa-
ton by the employees, which shall be
thoroughly democratic and entirely
free from interference by the com
pnnics or any official or agent thereof.
it is hoped that every employc will re, re-
spond to this invitation and meet with
the officers of the company in the spirit
of fair dealing and mutual helpful
ness"
New-York tribune., 1918-09-25
Central Leather Extra

Directors Of the Central Leather
Company declared an extra dividend Of
per cent on the common stock yestcr
day in addition to the regular quar-
terry disbursement of Il, per cent.
ms is the first extra dividend declared
TINS year. In 1917 two extras of . per
cent each were made, making in ali
per cent paid on the junior stock.
New-York tribune., 1918-09-25
TO THE HOLDERS OF
RAILWAY STEEL-SPRING COMPANY
Unter-Ocean Plant,
1st Mortgage SO Gold Bonds,
Dated October l. 1911
NdtFU VCtOUVF I. 1J1 I.
REDEMPTION NOTICE.

NOTICE is HEREBY GIVEN. as provided
IN Article OF the mortgage dated October
Company 10 the Standard Trust Company 81
New York. Trustee, Guaranty Trust Com
pany of New York, Successor. that the Rais-
its outstanding First Mortgage 5gs. 20 YEAR
Cold Bonds (lnter-Ocean Plant) issued under
said mortgage. on October !. 1918. at ons
value thereof. with accrued interest thereon
10 October /, 1913. Said bonds will be re-
deemed at the Coupon Department OF the
Guaranty Trust Company OF New York l4o
Broadway. New York City and should have
attached coupons due October !. 1918, after
which date interest Will cease.
RAILWAY STEEL-SPRING COMPANY
BY F. F. FITZPATRICK, President
Dated. New York City. August Is, 1918
New-York tribune., 1918-09-25
Ingot Production Greater

There has been substantial increase
in the ingot production of the United
States Steel Corporation during the
past week, but the blast furnace output
showed further slight decline. Fol
lowing yesterdays meeting Of the
finance committee, E. II. Gary, chair
man, said that the ingot mills have
been working at 97.5 per cent of capac-
ity, compared with 96.4 per cent the
week preceding. Blast furnaces worked
at % per cent of capacity, contrasted
with 9oS per cent,
New-York tribune., 1918-09-25
Utilities Gain Strength

Utility stocks were benefited yester-
day blythe news Of the announcement
of the formation of $3,00O,U00 cor
poration to help take care of the tinan-
cial needs Of public utility corpora
tions. Consolidated Gas and People s
Gas were strong, and some of the trac-
ton issues showed Improvement. Con-
solidated Gas was unusually active,
with turnover of 1900 shares and an
advance to S9M, the highest price in
months. Peoples Gas crossed so, but
reacted in the later trading.
New-York tribune., 1918-09-25

Iue above rates express tie cost Of
foreign money III terms of the Ameri-
can dollar. You buy IN English pound
sterling at. say. si7oe0. The intrinsic
parity is S4.3eSs per pound. Thus YOU
say e'ther that pounds are at dis
count or that dollars are at premium,
"hlcn 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 tor pounds with which to settle ac.
counts in England.
New-York tribune., 1918-09-25
Will Meet Canadian Maturity Here

According to Montreal advices, the
issues Of s2,5OO,oOO two-year per cent
notes of the Shawinigan Water and
Power Company, which falls due on
October !, will be paid at the offices
of the New York Trust Company. The
remaining issue of the company of
S4,500,OO0 two-year 6 per cent notes
which mature December, 1918, is con-
vertible into common stock, and already
approximately 100000 of the notes
have been ccnyerted
New-York tribune., 1918-09-25
Why Midwest Refining Rose

Midwest Refining stock was strong on
the curb yesterday on a report that
the company had brought in we'll in
the Salt Greek field in Wyoming which
is flowing at rate in excess of 10000
barrels q day. The OIL is said to be
coming from a new sand, which has the
effect of proving an additional new
ucreaoe IN that district.
New-York tribune., 1918-09-25
Money and Credit

a fairly large supply of call money
was available at the Stock Exchange
yesterday at 6 to G1s per cent, the
aAme rates rs have been in force for
sevcra. weeks
The market ior fixed date funds con-
tinued at a complete standstil. Prac-
New-York tribune., 1918-09-25
The Dollar in Foreign Exchange

In a quiet market changes in foreign
exchange rates yesterday were ex-
tremelv narrow and unimportant.
Neutrals showed a steady tendency and
rates on London and Paris were un-
changed. 1t was reported in banking
circles that Sweden purposed to lend
Great Britain G7.oo0,0o0 TO reduce the
premium on kronen. Although unable
TO confirm the report, bankers regarded
it as probable, and said that the pres
ent military and economic situation
was such that all neutrals would no
doubt be willing to accommodate the
Allies and win their good will.
Closing rates yesterday compared
with a week ago follow:
(Quotcd dollars to the pound)
New-York tribune., 1918-09-25
Many Securities Maturing

American corporation securities ma
turing next month approximate S46,-
100000, compared with s19,00o,OoO a
year ago, according to an estimate
made by "Thc Wall Street journal" i"
Railroad issues make up the largest
part of the October maturities, to-
failing $27,0O7,340. Most of this has
already been provided for.
New-York tribune., 1918-09-25
OFFICE OF THE BUCHAN MANuFAcr-

AT Lafayette Street New York.
September 18th. 1918.
To the Stockholders of Buchan Manu-.
featuring Co. Inc. Secretary OF State OK
New York. and Whom II May Concern
PLEASE TAKE NOTICE that specsai
meeting Of stockholders of Buchan Manu-
featuring Co. Inc will be held at the once
ough OF Manhattan. city. county and state
of New York, on the 18th day of Octe-
Der. 1918. at eleven o'clock in the fore
noon. for the purpose of considering, votine
upon and authorizing the changing the
present name OF tho corporation. 10 VIZ,
Buchan Manufacturing Co. Inc. to the 9ne
Il proposes to assume. to wit, BuchAn Mu1-
ply Manufacturing Co Inc. and for tns
transaction OF such other and further eos'-
ness as may come before the meeting.
WM. II. RADEMAEkERS,
President;
JAMES L. MURPHY
Secretary,
OF Buchan Manufacturing ca. In
New-York tribune., 1918-09-25
FINANCIAL MEETINGS
HARPER'S WEEKLY
STOCKHOLDERS. MErT

STOCKHOLDERS MEETING
PURSUANT to resolution passed by ma
1orlty of Board of Directors OF above com,
pany' meeting of stockholders OF said com
Pany VIII be held at 10 Fifth Avenue on
october lst. 1918, at noon, for purpose Of
dissolving company.
WALTER S. ROGERS, Secretary.
New-York tribune., 1918-09-25
Railway Steel Spring Companx.

80 Church Street. New York CITY.
August s. 1918
a auar.erly dividend OF ONE AND ONE
CuA1iTER PER CENT. U1leo) has this
day been declared on the COMMON STOCK
~ th,s Company. payable September 80.
1918. 20 Stockholders OF record September
Ii. 1913.
The Transrer Books VIII not be closed.
Checks VIII be mailed by Bankers Trust
Company.
Il. MCCORMICK. Treasurer.
New-York tribune., 1918-09-25
THtKMOS DIVIDEND

~ meeting Of the Board Of Directors
u the American Therrnos Bottle Comnarv
held Ia New York City on September 18Th,
islS. dividend of $500 per share was de-
ciared. payable october 18Th, 1913, to 81
siockho.ders OF record October 9TH, 1915.
?. Z. MURPHY. Treasurer.
New-York tribune., 1918-09-25

tically no money is being offered on
time, although there is good demand
at to 61a per cent for all maturitics.
Ruling rates for money yesterday,
compared with year ago, were as
follows:
Yesterday. Year ago.
Per cent. Per cent.
New-York tribune., 1918-09-25
DIVIDEND NOTICES
UNITED STATES
STEAMSHIP COMPANY

A regular dividend of one per cent and an
extra dividend of oue-half of one per cent
has been declared the Capital Stock OF
this Company, payable November !, 1918. to
stockholders Of record at tho close OF bust
ness on October rs, 1918.
y II. CAMP BELL Treasurer
New-York tribune., 1918-09-25

Office of The United Gas Improvement Co,
n. w. Corner Broad ana Arch Streets
Phllade! pha. Sept. IL, 1915
Tho Directors have this dag declared a
uer share, pavnh,e " Cctoh1r ger i.Vo
stockholders of record at the close OF bust
meas Sept. 30. 1918. Checks win bo mailed
I. w. MORRIS. Treasurer.
New-York tribune., 1918-09-25

Bank Acccptances.-A large volume
of bills is moving. The bank accept
ances credit arranged by the United
States Grain Export Corporation to fl
nance wheat in storage has increased
the floating supply. Rates yesterday
were as follows:
Thirty Sixty Ninety
Spot de- days. days. days
livery: Per cent. Per cent. Per cent.
E l is b lo
III m b er
banks. .4l4@4 1904 4as@4A
E ig lie
nOn-mem-
Der banks.4I4@41s 4as@4h 4as@4A
Ineligible
bank bills.5A@4 5A@4s4 514@424
For delivery within thirty days:
Per cent
Eligible member banks ......... 4Ia
Eligible non-member banks. 80. 45s
Ineligible bank bills s........... 6
Discount Rates.-The following table
gives the current rates Of the twelve
Federal Reserve banks on commercial
manor for oil ,oriOdc I'm IN riOnty dave.
New-York tribune., 1918-09-25

Silver.-London, 49iA, unchanged;
New York, 101 &c, unchanged; Mexican
dollars, 7Sc, unchanged.
Sub-Treasury. The banks lost
$59S,.o0o to the Sub-Treasury yesterday.
New-York tribune., 1918-09-25
Corporate Returns

Federal Light & Traction Companv
July gross ....:...... $278.321 Inc. SIS, ,54s
Net aft. exp. and taxes 56,427 Dec. 5S71
Net after intcrest 6,O62 Dec. 7'1O7
months gross ...... 2,o06.798 Inc 43s, ,293
Net earnings &c., ,9O7 Inc t4o,787
Net after lnterest.... 277,095 Inc. 13O,438
Boston & Albany Railroad Companv
Quarter ended June 30 1918 1917
Gross s6,483 ,9a8 s5,e1e.o31
\ Net revenue ....... 953.753 1,so2.11e
Gross income .... 8O4,836 1,5o4,529
Deficit .............. 534,125 t23e,s47
*Surplus.
New-York tribune., 1918-09-25

Bank Clearlngs.-Bank clearings yes
terday in New York and other cities
were:
Exchanges. Balances.
New York $500, $4,000 72,263, ,782
Boston ..... 44.297,567 9,140,033