davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1918-10-25
Relevant Comment
c. & w. l. Plan Successful

All doubts concerning the success Of
the Chicago & Western Indiana note
extension plan were set at rest by the
announcement yesterday from Chicago
that the directors had approved the
renewal Of the notes under the stipu-
lations arranged with J. r. Morgan &
Co. 1t was stated that more than 80
per cent Of the $4,000 issue out
standing had been deposited under the
agreement. Thus ends an episode that
a few weeks ago brought out striking
correspondence between the Morgan
firm and John Shelton Williams in his
capacity as financial mentor to the
railroad administration.
New-York tribune., 1918-10-25
Influenza Hits Copper Output

Not only has the current influenza
epidemic been felt with serious effect
in the iron and steel industry, but it
has resulted in materially cutting
down the production Of copper for war
purposes. An authority in the trade
yesterday estimated that recent out
put Of the mines and smeters may
have been cut down 20 per cent dur
ing the past month. Many workers
have been incapacitated for duty by
the disease and many more have been
compelled to stay at home because Of
the illness of members of their fam
lilies. In cases where deaths have oc-
Cured it has been the custom of the
workers to attend the funerals, which
has also worked to the detriment of
the companies in their efforts to fur
nish the government with the red
metal.
New-York tribune., 1918-10-25
Copper Price to Continue

1t was stated in the trade yester-
day that the real reason for postpone
ment of the copper conference orig
inally scheduled to be held to-day in
Washington was prevalence of infiu-
enza in the capital. All meetings ex-
cept those that are absolutely neces-
sary at this time are being called off
tor the same reason. At the pro-
posed gathering of copper men it had
been intended to fix the price of the
metal for the three months beginning
November /. Now that the date has
been Indefinitely postponed it is under
stood that the current fixed price of
70 cents pound will be continued
until beyond the first Of the year.
New-York tribune., 1918-10-25
Corporate Returns
Georgia. Southern & Florida Rail-

Georgia. Southern & Florida Rail.
way Company.-Total operating rev.
enue Tor the year ended December 81,
d9l7 ~ was vas s2,983,427 compared with
S2,6b9,SCS, from which operatirg ev'
penses of S2,336,O8O was dedncted
leaving net revenue amounting To SCAT :.
oaf against $725,516 for the precedinp
year. Gross income was $746,9o8. To.
tal deductions totalled $74,35O, which
compares with $59,123 After dividends
or S8e,4OO, surplus was $269,939.
Quebec Central Railway Companv.-
me annual report for the year ended
June ~ last discloses gross revenue
OF ~ ,9Z6,4 which compares with
sl,|26,o2S for the year before. After
operating expenses Of $1,424,55S, net
income was $500, making total IN
come of s507,345. Dividends paid dur
ing the year totalled $169,080. leayiny
q surplus Of $8O,704.
Massachusetts Gas Comnanv
earnings for September amounted "a
S4oo,l4O, decrease of Sat- 1896.
Gulf States Steel Company--Ne+
earnings for September amounted to
S33, 1853 and for the nine months ended
September 80 last $1,483,O5O.
lnterborough Rapid Transit
August gross s. S3.O11 .o57 Inc e1os M {,
Def. after charges. 70763 Inc ia oso os
Two mos. gross. $3.50 O16 Inc 1ao'22oo
Surp. after charges 217'263 Dee 6sa'79e
Philadelphia Rapid Transit Comnsn,, =
SSeprsneer Ss'' gross. 52,278.387 Dec $50, ,6s7
,Throa <,..e, ,,sa onalRes' S5a,o %! inc. 1883
c,'rr, e. ie.os Sross.' a.lSo. 341 Inc. $50. .6s2
'u'p ...er cnarses. oa2,042 Dec. 102,3o1
Utah Securities C0rporat;o,
September gross s5a5 .e62 Inc eoa71o
Net after taxes 3O4.77a Doc 1o7S
Twelve mos. gross. 69a6 7O1 Inr s'oos
ANee "l"r taxes. 5.|4',8 1886 Inc. 3O8.S74
New-York tribune., 1918-10-25
Huge Liberty Loan Payments

Owing to the enormity of the task
Of handling the first instalment. of 10
per cent due yesterday on the sub
scriptions TO the Fourth Liberty Loan,
the Federal Reserve Bank was unable
to announce after the close of business
the total of the payments. 1t was
assumed. however. that large part
were made in full, as this was the
practice on the first day of payments
on account of the three preceding
loans
New-York tribune., 1918-10-25
Dollar in Foreign Exchange

Extremely quiet conditions prevailed
in the foreign exchange market yester-
day, and no significant changes took
place. Pesetas were again strong yes
terday because of short covering,
bankers explained. no reflex of the
Presidents latest reply to Germany
rates.
Closing rates Yesterday, compared
with week ago, follow:
Quoted dollars to the pound.)
New-York tribune., 1918-10-25

i The chairman Of the money com
mittee, in his letter to the president
of the Stock Exchange, which the
latter will hardly be surprised to
receive, states that
The reports now being made by
members of the New York Stock
Exchange disclose considerable in
crease in the loan account, although
advices from the money committee
nave been that, having due regard to
the financial requirements of the
government, there should be no in
crease in borrowings for Stock Ex-
change purposes.
The implication Of this statement
is that the brokers are to be held
accountable for the increase in
loans. That is true, in a measure,
but it is likewise true that the banks
themselves are just as much to
blame. The money committee had,
according to its own statement, full
information concerning the loan &C
count from day to day, and it is
absurd to suppose that it lacked the
power to enforce the restrictions
that it imposed early last month.
If brokers are to be criticised for
seeking to expand their loans, the
banks should not escape criticism
for permitting them to do so. Had
the restrictions, announced at the
end Of August and restated about
q week later, been carried out, there
would have been no need for action
at this time.
New-York tribune., 1918-10-25
THE INDIANAPOLIS UNION RAILWAY
COTPANV
INDIANAPOLIS. INDIANA.

iNDIANaPOi4lS. INDIANA,
OCTOBER TO- 1913
Bonds wanted for Sinking Fund.
The indianapolis Union Railway Company.
proposals for the sale of twenty-eight thou
sand 32s,000.00) dollars of it's First Mort
gage Bonds. az the Office of the Fidelity
trust Company. in the City of Philadelphia.
1919. Bonds offered at the lowest price not
exceeding par and accrued interest. viii be
ferenr holders be offered at the me prics.
the number Of bonds taken from each shall
be on pro rata basis, as nearly as prac-
tlcapie, In proportion to the whole number
Of bonds offered.
w ]. DANIELS. Secretary
New-York tribune., 1918-10-25
> u s t e n a n G e
Cereals

Nheat.--Ever since the war in Eu-
rope. began the principal factor in con
nection with the distribution of bread :
stuffs, next to actual production. has
,2' Deen the question Of transportation.
Inns IS still true, and while the situa-
ton IS very much more encouraging
IMAM IL was last season both in regard
10 moving grain in America from the
farms to the terminals and from the
seaboard to Europe. still there are are ce,,o t,o
tain limitations which at the present
time are interfering with the export
movement. Huge stocks are being piled
up throughout the United States and
Canada, and owing to the fact that
prices are fixed and there is conse-
ouently no incentive to farmers to hold
their wfeat an unusually large per-
centage of the crop has already been
marketed. o'
Corn.--The Presidents reply to Ger
many's latest peace note proved dis
turblng element in the corn market. an
the trade was somewhat at loss to
know whether it will mean prolonea-
tlon OF the war or will serve to hasten
the coming of peace. Longs. however.
We're disposed to liquidate and as the
technical position Of the market was
weaker as a result of recent covering
prices were easier, at one time show
ing losses of about cents from the
previous close.
comparatively steady, however. and in
some quarters it was thought that
farmers are not likely to sell their new
corn with great freedom. although they
have recently been offering old corn
In liberal quantities. Receipts at pri-
mary points were smaller, and appar-
emily the recent unsettled weather in
the West IS we'll as the shortage of
cars is interfering with the movement.
These conditions may provo temporary,
however, and it is intimated that the
railroad administration is working to
relieve the car situation.
Yesdays Previous Year
New ! ork: close. close. ago.
Chicago:
Sses1sSer os'sSSs :.:::: ,ai2. iii2 1ss isS 1.1gn
Oats.-The market for oats was quiet
Dut prices were easier in sympathv
with corn and under scattered liouida,
zion prompted by feeling Of nervous
ness over the critical political sitna-
I!on. western cash markets were about
STEADY, but aside from occasional nure
~ .tie So'ernment there is lit
tie IN the situation to attract .+ron+;o,
and exporters are out of the mnri,n.
OWNS to the present transportation
=. Yesterdays Previou.
New York: cloye 1s ious
Oats. No. white. 70 70 lear go
Chicago: ''' .6eLa
november ...... .6s7a $685.
December ..... .esla .ss1a so,l
Rye.-Market quiet.
New YORK: cloSn tleVl7us
eS' VIZ SIT $1.ss
f'our and Meal.-Quotation. wer..
N.uv. Yesterdays Previous
Flour u;nE uGrR' clrse. close. Year 400
cornmealn % sIInn. r., Spg pats1oso 5000 $3.50
Rvs 60 yel::, gran. 4.f7Ls ARK AZ
-'0oi' cnoice. 9.oo 500 az
New-York tribune., 1918-10-25
FINANCIAL MEETINGS
CANADIAN CAMP CLUB IT'D

W. T. McCuiloch, Secretary and Treasurer.
Grand Central Terminal, New York city.
October %, 1918
Please take notice that the annual meet
ing OF the stockholders Of the Canadian
Camp Club, Limited. for the purpose OF
electing Directors and Inspectors Of EIec-
Hon and transacting such other business an
may properly come before the meeting will
be held on the 18th day Of November, 1918.
at - o'clock noon, at the Office Of the COM
pany at Bridgeburgh, Ontario, Canada
w. T. McCULLOCH,
Secretary and Treasurer
New-York tribune., 1918-10-25
NOTICE Is HEREBY GIVEN -ruAr

NOTICE Is HEREBY GIVEN THAT A
special meeting Of the stockholders Of
the L. S. BROKERAGE & EXPORT co.
INC. Will be held ut the principal business
office OF the company. No. lS9 Maiden
Lane, City. County and state Of New York.
on the Sth day of November, 1913. at Ii
o'clock A. NJ, for the purpose of taking a
vote of stockholders on the proposed
change OF the corporate name from L. S.
BROKERAGE 4 EXPORT CO. NC to
L. S BROKERAGE &, TRADING co, INC.
Dated, New York, October %, 1918.
S. SHULDINER, President
A. STEDMAN JAMESON Secretary.
New-York tribune., 1918-10-25
Dividends Resumed
Bergner & Engel Brewing Coun.

Bergner Engel Brewing Company.
The common dividend of 81 Der share
has been resumed, after being discon-
.lnued TOR tive years, payable Novem-
Der l to stockholders of record Octohar
%. The regular semi-annual dividan !.
of 4 per cent on the preferred stocI
was also declared, payable November
to stockholders of record October "a
New-York tribune., 1918-10-25
DIVIDEND NOTICES
GREENE CANANEA COPPER co.

q BroadwaY. New York, \. 7.
The Board Of Directors OF the Greene
Cananea Copper Company has declared 3
dividend Of s2e0 per share upon lis Capt.
tai Stock Of the par value Of $4,000 PEI
share, payable on November Is. 1918, TO
close of busine So at 500 O'Clock p NJ.
Friday, November S. 1918 The dividend is
payable only upon the 10000 shares into
which the Capital Stock Is divided All
stockholders who have not converted their
holdings into shares of $4,000 par value
should do SO without delay IN order that
they may receive their dividend promptly
The transfer books will not be closed.
j. w. ALLEN, Treasurer.
New York. October "a. 1918
New-York tribune., 1918-10-25
Telephone
Hanover 6S14

schedule of rediscount rates which ap-
ply to bankers ncceptances Maturities
up to. Is days, per cent: 10 to so
days, inclusive, Az per cent; 81 to 30
days, Inclusive, AZ per cent.
Bank Clesrings.--Bank clearings yss-
terday in New York and other cities
we're:
Exchanges. Balances.
New York.. $71o,e75,e25 $s4,4o7, ,525
Boston ....... 60.907,655 1903, ,490
Philadelphia. 72,090,770 1885, ,o57
Snb-Treasury. The banks lost
$616,o00 to the Sub Treasury yesterday.
Silver.-London, 4e15d, unchanged; !;
New York, 101 Nc, unchanged: Mexican
dollars, 777ac, unchanged.
London Market Firm.-LONDON,
Oct. 24.-Money was firm at per cent.
Discount rates were: Short and three
months bills 1882 per cent. Gold
premiums were quoted at Lisbon,
10000.
Bank of England Statement.-LON-
DON, Oct. 24.-The weekly statement
of the Bank of England shows the fol-
New-York tribune., 1918-10-25
FINANCIAL

CERTIFICATE NO. 11.434. FOR FIVE 151
shares of the capital stock Of the Lehigi.
valley Coal Sales Company in name Of
julia Avery Fish having been lost or mis-
la1o, notice is hereby given that applica-
tion has been made for a renewal of the
saine.--A dvt.
New-York tribune., 1918-10-25
News Digest
New York

General Motors ACQUIRES Canadian
Firms.-Purchase Of the McI,auDbl;r,
Carriage Company. Limited, and the
Chevroiet. Motor Company. of Canada.
Limited, by the General Motors Cor,
Roratlon was announced Yesterday
They. will be taken over on Noyen,-
ber l. -'''oii-
New-York tribune., 1918-10-25

The proportion of the banks reserve
to liability this week is 1870 per cent.
Last week 1t was 17.10 per cent, Rate
of discount was per cent.
Bank Of France Statement.--PARIS,
Oct. 24.The weekly statement Of the
Bank Of France shows the following
rha anOoa in france.
New-York tribune., 1918-10-25
nterbOrOugh Rapid Transit
Dividends |
Extras

American Brass Company.-An .x+r,
dividend of 31z per cent has been de-.
clared in addition to the regular quar-
terly. dividend of tx per cent. both
payable November 15 to stockholders
Of record October 81.
New-York tribune., 1918-10-25
Wealth Markets and Commerce y

higher than Wednesdays closing level,
Mr.. Noble, Winthrop Burr, vice.
president of the Stock Exchange; James
B. Mabon. former president Of the
exchange, and Henry K. Pomroy. a
member Of the board OF govern
of the law committee, appeared before
the money committee during the con-
ference yesterday afternoon. Mr.. Noble
had already conferred with the COM
mittee on Tuesday.
For nearly two hours the full men,
bership of the money committee de-
liberated on the precise form the new
statement should take. Those present
besides Mr.. Strong we're: A. II. Wig
gin, chairman of the Chase National
Bank; Charles H. Sabin, president of
the Guaranty Trust Company; William
Conway, vice president of the Guaranty
Trust Company; Walter E. Frew, presi-
dent of the Corn Exchange Bank
James s. Alexander. president Of the
National Bank Of Commerce; James N
Wallace, president of the Central Union
Trust Company, and Jackson E. Reyn-
olds, vice president of the First Ma
tional Bank.
1t was said in we'll Informed banking
circles that the aggregate Of Stock Ex-
change loans now exceeds $1,000
100000, compared with total Of about
S675 100000 at the end Of August. Mr.
Strong, when asked to give the amount
Of the loans at present, said he could
not add to the statement in his letter
that there has been "considerable in
crease"
Ea PIfnr Wo nc Cfuau
The movement to conserve credit was
authoritatively sponsored as early as
last April by the Federal Reserve
Board, which has consistently pointed
out the need of curtailing loans for
non essential purposes. On August go
Gates w. McGarrah, then acting chair
man OF the money committee, warned
that "any disposition to indulge in
speculative commitments, based on bor-
rowed money, must Of necessity lead
to an increase in rates that will! prove
corrective"
On September the chairman Of the
money committee asked tho president
of the Stock Exchange for daily re-
port from all members Of the board
revealing the amount Of loans carried,
and pointed out "it is obvious. however
that for the present there should be
devoted to the security market no adj
ditlonal credit beyond the funds now
SO used. Any tendency to expand the
collateral loan account should, for the
general good, under the present condi-
tions. be checked"
New-York tribune., 1918-10-25
Bethlehem Steei's Big Orders

Declaration by the Bethlehem Steel
directors Yesterday of the regular
quarterly dividend Of 81 SO share on
the class A and common stocks
was the occasion for a spirited rise
in the latter issue. From a low Of
71Ss it advanced to 74$s and closed at
IA, with net gain Of 21s points. 1t
was announced after the board meet
ing that orders on the comp pany's books
as of October totalled S506 100000. an
increase over the business on hand on
January 1 of more than $50.O00,o00
Speaking Of the outlook after the war,
f. G.. Grace, president said that less
than 10 per cent of the company's bust
ness in normal times would be repre-
sented by ordnance or war products.
He stated that plants are running at
capacity and have not been seriously
affected by the influenza epidemic.
New-York tribune., 1918-10-25
8 cotton statistics follow

Liverpool Cables.-Spot cotton o,;o4.
middling % points lower at 81 ga.
good middling rs points lower at
2l.25d. Sales 1000: American / 900
Imports nil. Futures opened uuiet At
10 to 19 POINTS decline. Closed on;et
al a net decline of 81 to 36 points
October, 2203; November, 2l.43; De-
cember, 20:89; January, 2O.45; Feb
ruary, 2006.
New-York tribune., 1918-10-25
Butter, Cheese and Eo..

10 anshut.er.-Receipts sh to-day were o $40
ttaessges' tras e oIreessmery, higher than ex'
57nc. ~ srots rootsseossaAc; sa; extras. 81. score.
SIC: seconds. 8 50 70 to 81 ~ score; ore 5S.s@
New-York tribune., 1918-10-25

55c; lower grades. 4e@52c; unsalted,
higher than extras, 59la d6Oc; extras,
5S12 G5oc; firsts, 561a a 5sc; seconds,
54M56c; state dairy tubs, finest,
56057c; good to prime. 52d 55c; COM
mon to fair, 47@)51c; renovated extras,
501a oslo; firsts, 484049c; lower
grades, 43@4Sc; imitation creamery,
tirsts, 45a46c: ladies', current make,
firsts, 411zM42c; seconds, 40c; lower
rent make, No. /, 4O@40lac; No. 2,
SO l2c; lower grades. 360 39c.
Cheese.-Receipts to-day were 3,525
boxes. State, whole milk, fresh flats,
specials. colored, ID, 331zc: white, 500
80 &c; average run, colored. SO y IA 33c;
white, SEQ 50 nc; lower grades. 29s@
SIC; twins, specials, $50 SO i2c; average
run, Spec; lower grades, 30@32c;
flats, held, specials, 30 32lac; average
run, 29a Bic; twins, held, specials, 81
grades, 25M29c; Wisconsin. whole milk,
twins. held, 31l9 32c; double daisies,
held. 500 33c; Young Americas, 30Ql
90 &c; state, SKINS, specials, 241s@
70 &c; prime to choice, 23d24c; fair TO
good. 2o@22c; lower grades, a@1Sc.
Eggs Receipts to-day, as reported By
the New York Mercantile Exchange,
',923 packages. Fresh gathered, ex-
tras. per dozen, 500 soc; extra tirsts,
$50 5Sc; tirsts, 52@55c; seconds. 49@,
SIC; dirties, No. /. 45@46c; No. 2 and
poorer, 4O044c; checks, good to choice,
4o@42c; undergrades, 35@39c; re-
frigerator, special marks, fancy, charges
Pald, 46047c; tirsts, charges paid. 44's .
(a46c; seconds. charges paid. 42@44c;
undergrades, 4O@42c; state, Pennsyl-
vania and nearby Western hennery
whites, fine to fancy, ss@92c; ordinary
to prime. 75Ms8c: gathered whites,
ordinary to fine, 72@s8c; Western and
Southern gathered whites. 65Gs5c;
state. Pennsylvania and nearby hennery
browns, 64@66c: gathered brown and
mixed colors, 5OGQ60c.
New-York tribune., 1918-10-25
Newcomer Has Active Day

Pan-Amercan Petroleum common
stock. which made it's debut on the
"big board" yesterday, surpassed any
of it's previous performances on the
outside market. On a turnover Of
$4,000 shares it sold up to 72 and
closed at 7O%, compared with Wednes
days last sale on the curb at 651s.
This company owns majority of the
common and preferred stocks Of the
Mexican Petroleum Company The
ticker abbreviation for Pan-American
stock is PIP.
New-York tribune., 1918-10-25
G1
ge
~.a*%ae*%:::s~a%*n>e..s...s..,..
BENJAMIN Franklin SAYS:

"H say 10fAiag Of the 5ati1aftien gen.
eyoU5 miadj mu,f haze in rxHtesisr
that By haas TO Ameriea they ere
aiding THE ea05e IF Liberty whiei is
THE eaa5e Of all Mankind"
New-York tribune., 1918-10-25


The local market for spot cotton was
quiet and 10 points higher at 31.55 for
middling. upland, compared with 3145
the day before and 29.O5 the year be-
tore. There were no sales of spot
Southern spot markets follow: Gal
weston quiet, rs points lower at 81,
sales 700 bales; New Orleans steady,
ioo points lower at 1850, sales 1876
nales; Mobile quiet, so points lower
at 2o.15, sales SO bales; Savannah
nominal, unchanged at 1915, sales nil:
NorfolR quiet, 25 points lower at 20,
saies 2oo bales; Augusta quiet, un-
Seanangeo at 29.25, sales 1926 bales:
80 25. sales $50 bales; Houston steady
~ points higher at 31.1O, sales 3,4l3
nniaies; Little Rock quiet, unchanged at
-esterdau,r uo44a=
New-York tribune., 1918-10-25

Portuguese Excess War Profits
Tax
decree was issued on September 26
by the government of Portugal, sub
jecting all individuals, societies, com
mercial firms and companies of what
soever character 10 the payment Of an
excess war profits tax
New-York tribune., 1918-10-25

Nominal.
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., 1918-10-25
Finance Economics
WALL STREET OFFICE,
Mills Building, IS Broad St.

Whether the measure announced
yesterday for preventing bull
market will be effective cannot be
foretold, but certainly the increased
margin on loans, which in turn
means an increased margin on
stocks, should exercise considerable
restraint on speculation for the rise,
and possibly cause important liqui-
dation, if the recommendations of
the money committee are enforced.
Probably they will be. 1t is only
a few weeks ago, however, that
recommendations having the same
object in view were made, only to
be ignored as soon as the demand
for money increased. Generally
speaking, the trader who has carried
thousand shares Of stock on a 10
point margin will either have to
find an additional 10 per cent him
self or reduce his commitment to
500 shares. That would seem to
reduce materially the prospect for
another series Of million share days.
But there is in the announcement
no suggestion of rationing the in
dividual members Of the exchange,
which would make a big speculation
impossible, while rates are to be
kept down, presumably by artificial
methods, as in the past, and the
imposition of the latest restriction
is deferred until November 4-why
does not appear. In these things
traders and brokers will find some
comfort.
New-York tribune., 1918-10-25

Stocks Elk Dividend Yesterday
Fisher Body. s1.7s.
General Cigar. 81.
New-York tribune., 1918-10-25
Coffee, Sugar, Tea and Cotton
seed Oil

Coffee Futures:-A little business
was reported in spot coffee yesterday
but the trade is still much confused
or uncertain, both with reference to the
ultimate releasing of hedges in futures
and the control of importations through
New-York tribune., 1918-10-25

Discount Rates.--The following table
gives the current rates Of the twelve
Federal Reserve banks on commercial
paper for all per iods up to ninety days:
New-York tribune., 1918-10-25

Bank Clearings.-Bank clearings yes
terday in New York and other cities
we're: