davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1918-01-11
Messenger a Board Member
Pays $55,00o for Seat on the
Stock EXCHANGE

Man Siegal, who has been employe
of the Stock Exchange for the last fif-
teen years. has bought seat at a cost
OF $4,000. For the last few years
Slegal has held the title of sergeant, in
which capacity he has had charge of the
messenger boys on the floor Of the ex-
change. He purchased the membership
OF the late Stewart Barr
This transaction is only one of a
number that have taken place on the
Stock Exchange during the last two
years where employees have been the
buyers of seats. Young Siegal is popu.
lar among his associates, and his rise
to fame is generally commended.
Other transfers of exchange member
ships announced yesterday included the
purchase of the seat of Thomas F.
Baxter by Henry c. Jensen for $55 900
Robert w. Morgan has sold his mem
bership to Edward +. Hutton for s5O.-
00O
New-York tribune., 1918-01-11
American Can Co.
Issues $l2,O00,000
Short Term Notes
Securities Will Be Avail
able for Rediscount at Fed
cral Reserve Bank

The First National Bank announced
yesterday thH it had bought from the
American Can Company $12,000,000 Of
it's serial notes, to be dated January 81
next, maturing in equal instruments in
seven, eight. nine and ten months.
The proceeds of the notes will be
used chiefly, according to statement
issued by the bank, to pay for tinplate,
which will be converted into finished
products to meet tho requirements Of
the company's customers for the COM
ing season. In this connection it was
pointed out that the notes will be self
liquidating and from their commercial
character may be rediscounted at the
Federal Reserve Bank.
Subscriptions to the issue will be re-
ccived on 7 per cent discount basis.
This is the second industrial issue of
Importance that has been announced
since the United States entered the war
against Germany, where the securities
possessed the rcdiscount privilege af-
iorded by the Fcderar Reserve system.
Last November the American Tobacco
Company sold S25, 100000 ninety day 6
per cent notes to a syndicate headed by
the Guaranty Trust Company.
The last previous financing ncgotiat-
ed by the American Can Company was
early in 1918, when Sl1 ,872,500 fifteen
year per cent debentures were isued.
They mature February l, 1923.
William A. Read & Co. announced
yesterday that they had bought SO ,000,-
900 two and three year per cent notes
of the American Gas and Electric Com
pany. The two-year notes amount to
$2,500,O00 and the three-year notes to
S5O0,000. Both issues are being offered
on basis to yield 7l2 per cent.
New-York tribune., 1918-01-11
Dollar in Foreign Exchange

Early strength of Italian exchange
yesterday, when lire sold up to S.37 for
checks, was followed later in the day
by reaction to $40 on slight in
crease in offerings. The peace talk
was held responsible for fresh de-
cline in Holland exchange, check
guilders falling 4 to 42a. cents. Stock
holm checks were 4 off at 32 cents.
Sterling and francs held firm.
Closing rates yesterday, compared
with week ago, are given in the table
below American bankers have sus-
pended all dealings in German and
Austrian exchange, so that daily quo
tations for either marks or kronen are
no longer available.
(QuOtcd dollars fo Tho noundN
New-York tribune., 1918-01-11
Finance Economics
Telephones:
Hanover 0B14

fewer workers the total wage bill
was larger in October than in Sep
tember, while in only one industry
--silk--was there decrease in the
total of wages paid compared with
October, 1916. In this industry
the payroll was 1.9 per cent smaller,
while the number of employees de-
creased 90 per cent.
In spite of the slight Improvement
reported, the labor shortage is still
acute in sections where industry is
not hamstrung by lack Of coal.
The Miners Bank of Wilkes-Barre
makes the following statement of
conditions in the district in which
it is located:
Industries Of the Wyoming Valley
could easily use 10000 more workers
If they could obtain them. Wages
in all industries are higher than ever
before. With the advances just grant
cd as of January l, the prevailing
schedule shows increases within two
years ranging from 20 to 61 per cent.
Working conditions were never more
advantageous for the ambitious wage
earners than they are to-day AL
though the cost of living is high,
the wage advances in various indus
tries have, it is believed, more than
compensated for the rise in commod-
ity prices. There has been good
deal of rival bidding for help, which
is not unnatural in view of the un-
preccdented pressure upon plants,
mills and manufacturers for in
creased outputs. Some Of the plants
in this district have orders enough in
sight to keep them busy for six
months to come. without any new
business at all. But new business is
being offered in greater volume than
the manufacturers can provide for,
owing to the difficulty Of procuring
an adequate supply of workmen and
material.
The labor problem is becoming
more intimately related to the coal
problem every day. If the coal
situation is as bad as it is said to
be we may soon be graphing with
the question of taking care of idle
workers instead of striving to find
enough to meet the demand.
New-York tribune., 1918-01-11
Bush Terminal Report

The Bush Terminal Company, whose
,icrs and warehouses in South Brook
lyn were recently taken over by the
United States government, IN a report
of operations made to the New York
Stock Exchange for the ten months
ended October 81 last, shows gross
earnings OF s2,SS6,316 compared with
$1:955,237 for the full year Of 1916.
After operating expenses and charges
for taxes and interest, the balance left
for the ten months period totalled
s953,sS7 compared with S939,624 in the
twelve months of 1916.
New-York tribune., 1918-01-11
Cooperative Bond Dealers

The bond department. of the Equita-
bic rust Company yesterday an
nounced the details of a plan for eco
nomical cooperation among indepen-
dent bond dealers and banks with bond
departments throughout the country.
The plan provides for the elimination
of great deal Of the local machinery
now used in the distribution of securi-
ties: 1t will furnish service to local
dealers and banks through a central
organization. 1t is understood that a
number of dealers and banks have al
ready become participants in the nlan.
New-York tribune., 1918-01-11
Large State Revenue from Corpora
Italy's 1917 Wheat Crop

according to the Bulletin of the
Ministry OF Agriculture in Rome, the
wheat crop of Lombardy for 1917 was
81 per cent less than an average one
II he crop for the whole of Italy for
1917 was 3,S10,2O0 metric tons. com
pared with 1904 tons for 1916. and
for Lombardy 324 SEQ tons. against
498,500 tons in 1916.
New-York tribune., 1918-01-11
A Change in Time?
United Kingdom Notes

The Bankers Trust Company is ca,l-
ing the attention of holders of one
and two year 5}s per cent convertible
gold notes Of the government of Great
Britain and Ireland, maturing Febru-
airy I, to the requirement for giving
ten days written notice of their in
tention to convert the notes into the
5l2 per cent bonds of 1887.
New-York tribune., 1918-01-11

Relevant Comment
Pittsburgh's Minimums

In Pittsburgh the minimum prices
established for stocks last fall when
the big break occurred, and which are
still in force, have given rise to com +
plications. Take, for instance, the case
Of the preferred stock of the American
Window Glass Machinery Company,
next Monday. The minimum prices
established by the Pittsburgh Exchange
on this issue is 90. This has not been
reduced, so that apparently the holder
of the stock will receive the cash d.,
vidend and at the same time will find
his shares quoted at 80 or above. This
sounds like eating the cake and hav..
ing it, too. Actually the quotation. Of
90 for the stock, as fixed by the mini
mum prices, really means nothing, SO
far as being a trading quotation. What
will happen if the dividend is not taken
off by reduction in the minimun1
prices is that the market on the PITTS
burgh Exchange in that particular issue
will drv uD
New-York tribune., 1918-01-11
News Digest
Foreign
London Market Chcerfu

London Market CheerfuI.-LONDON
Jan l0.-The stock market maintained
cheerful tone to-day. President Will
sons message was strengthening
factor. especially in Russian issues,
which were strong, the latest Petrograd
news having no effect. Speculative is
sues were more active. particularly
Eastern Kaffirs, tin mines and oil
shares, while British American Tobacco
was leading feature on dividend an
houncements. Home funds and ship
ping shares were steadily supported
Paris Bourse.-PARIS, Jan. 10
Trading on the Bourse to-day was calm.
lhree per cent rentes were quoted at
oS francs % centimes for cash, ex-
change on London at - francs IS CEN
times and the ) per cent loan at IS
francs 45 cent;mcS
New-York tribune., 1918-01-11
Cotton S Advantage

Financial Editor, The Tribune.
Sir: AS bearing somewhat on your
article to-day relative to cotton and
grain prices, we take the liberty of en-
closing tabulation which may interest
you or your readers
f. w. WAGNER & co.
New York, Jan. 10, 1918.
Percentage increase over previous
five-year average in price Of farm
prOductS.
New-York tribune., 1918-01-11
Current

he above rates express the cost Of
foreign money in terms of the Ameri-
can dollar You buy an English pound
sterling at. say, $4.7514. The intrinsic
parity is S4s65s per pound. Thus, you
say clther that pounds are at 81 dis
count or that dollars ere at premium,
which 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 for pounds with which to settle ac
counts in England.
New-York tribune., 1918-01-11
Seeks to Check
Craze for Starting
Smaller Banks
Minnesota Official Would
Prohibit State Charters
Until After War
Especial Correspondence

MINNEAPOLIS, Jan. If. w. Pear
son, of the State Department of Bank
ing. has announced that he will recon-
mend to the Minnesota Public Safety
Commission that it issue an order to
prohibit chartering Of new state banks
until the close Of the war. Mr.. Pear
son gave as his reason for this pro-
posa that people now putting their
money into stocks Of these new banks
would buy Liberty bonds instead.
The suggestion meets with the ap-
proval Of conservative financial in
terests here, who are beginning to
view with disfavor the continued an
nouncements of new banks opening or
in formative stage. There are enough
banks in Minneapolis now, they con-
tend. As one observer facetiously re-
marked:
zone cannot throw stone in Mime
apolis to-day without hitting bank
director, and the names of corner
grocers, railway clerks and street car
conductors are beginning to appear on
the directorates."
Twelve new banks were organized in
this city in 1917, new one coming
into being every thirty days on the
average. There were thirty-eight a
wear ago, and now there are fifty.
These are the comparative figures:
New-York tribune., 1918-01-11

Most Of the new banks are capital
lied at $4,000, and what is known as
neigh borhood" banks, located in bus
ness districts outside the centre, some
at distances Of several miles from
downtown" Minneapolis.
If one goes back two years the COM
parison is more striking. There are
seventeen more banks here now than
there were IN 1916.
Some Of these small banks which
were first organized have been pros
porous, and dividends have been paid
within a year or eighteen months after
organization. The field therefore, has
been an attractive one.
Whether the organization craze will
continue through 1918 is what is worry
ing the heads of the larger banks and
conservative bankers generally
New-York tribune., 1918-01-11

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., 1918-01-11
Domestic

Exempts Liberty Bonds From State
Tax.-HAR1FORD. Conn, Jan. TO-
Attorney General George L. Hinman
to-day announced that banks were ex-
empt from taxation on Liberty bonds
held for customers who were paying
for them by instalments. His finding
came as the reAult Of, a query by Tax
Commissioner William H. Corbin as to
whether the state could impose a tax.
The Attorney General holds that
neither the equity held by the Gus
toner nor that Of the bank on partly
paid for bonds of the Liberty issues
are taxable against the banks That
is. if the bonds held by bank were
two-thrds paid for the third still
owned by the bank would be tax ex-
empt as we'll as the twothirds ac-
qulred by the customers.
Minerals Separation Suit To Be
Heard in March. Court of Appeals
of San Francisco has set March 8 as
the date for the case or appeal of
the case, involving damages approx
mating S1o,000,000 awarded to the Min
erals Separation Company of Sweden
against the Butte and Superior Com
pany.
Large State Revenue from Corpora
tions.~-ALBANY. Jan. 1o.-Business
corporations added approximately s3o,-
100000 to the states Golfers last year
according to report of State Control
Ter Travis made public tonight. The
controllers figures arc based on the
total amount received from taxes, fees
and tines from the several corpora
tlons, like insurance, banking, trans
portation. telegraph, telephone, light
ing, power, manufacturing and mer-
camille
New-York tribune., 1918-01-11
Money and Credit

Offerings of funds for fixed periods
were substantially increased by lend
ing institutions yesterday, and rates
were accordingly reduced in this mar
ket an average of u per cent for all
maturities. A somewhat larger busi-
ness was reported in loans against in
dustrial securities as collateral run
ming for ninety days and four months
at 81 per cent. The recent rate on
loans of this character has been per
cent. At the Stock Exchange the call
money rate was held at per cent, un-
changed from Wednesday.
Ruling rates for money yesterday.
compared with year ago, were as
follows:
Yesterday Year ago.
Call money. ....... 40 2po
Time money (miXed colateraD:
go days. ...... 5I2@5a4oo 2Ia@2s4eo
80 days...... 5I2@5240o 2a40o
a months..... 5I2@5a49o 2a4@3%
to 6 months 5I2@5340o go
New-York tribune., 1918-01-11

Commercial Paper.--Thc trend Of
this market was toward increasing ease
yesterday, although rates as rule
were generally unchanged at 5s4 to 6
per cent tor the best regular matur-
tics.
Official rates of discount for each Of
the twelve Federal districts are as
follows:
New-York tribune., 1918-01-11

London Money Marlxct.--Money was
in better demand at 81 per cent and
discount rates were nrmer, with short
bills quoted at 3 3l-32 per cent and
three months bills at 1872 per cent
Bank of Francc.-PARIS, Jan. To-
The Bank of France reports an increase
in gold of 100000 francs. The state
ment with the changes, in francs, from
a week ago follows:
Gold.. 5,a57 ,462, 900 Inc. 1895 900
Silver... 248, 118,00O Dec. 10000
Giro. ... 22.982 ,747, 900 Inc. 1873, 3,669, 900
Gen. dep. 2,723, 1921 900 Dec. 80.741 900
Trcas.dep. 1856 ,409o Dec. 180. 900, 900
Bills dis. 2,O76, 100000 Dec 90,O32, coo
Advances 1925, 3,356,000 Dec. $4,000
New-York tribune., 1918-01-11

BeWamin FRANKLIN ay5:
"Whfn y0u are g0od 10 etLs,5 ps
are hf5t ~ y0uvJeD.'
W0tMeutS

Ii you have been called away
from home on Government service
you will find checking account
the most convenient means of paw
ing your immediate personal e1-
penses and domestic billss
"A checking account also eliminates
risk OF money loss-a risk that is
ever present when you carry large
sums OF cash.
Why not allot Your pay to us each
month, as others are doing, ard
PUT Your personal finances On
convenient and business Ike basis
We accept accounts OF $500. and
upwards.
Member Federal Reserve system
Member New York Clearing House Assn
The World. [volume] (Martinsburg, W. Va.) 1912-1921, 1918-12-30

/ couldn't help comparing this meal
with those I used to eat regularly ev-
cry day for years, when / was ma
chinist.
Here's what then ate, and what
The World. [volume] (Martinsburg, W. Va.) 1912-1921, 1918-12-30
THE 1000

In round numbers the Local Draft Board says Berkeley County
LOCO into the armed forces of the United States for
War Of this number 703 enained by the board
calls by Provost Marshal General Crowder
The others either members of the National Guard which
later felraiza volunteered and entrane1 for var
points.
In round numbers Berkeley County has population approach
10000 This means therefore that of every thirty
citizens left his civil duties to The proportion
would hold to be for all other communities Most of these
will back The total list of casualties for the
will be complete until the casualty lists have II be- -
both deaths and injuries for this community have been small
number.
The story of communitys contribution this world effort
will told in numbers Back of the lie
the the of the sacrifices that made
that the might the of his training camps
the stories his work abroad Most of these will be
public They will be cherished in family recordsany
them personal and highly cherished to be made public
perty.
The World. [volume] (Martinsburg, W. Va.) 1912-1921, 1918-12-30

This very simple meal was eaten
on the top o. work bench, with a
newspaper for table cloth, instead
of fine linen; humming machinery for
music, and never a waiter or hat, boy
in sight. af,
Just bunch of hearty, joshing ma
chinists to joke with, and sometimes
a bit of wrestle Or rough house.
engaged in good-naturedly, to produce
laugh and to make the blood Jingle.
But, oh boy! how good that hot,
Juicy sausage tasted, dipped into a
dab of mustard spread on brown pa
per-for which the butcher made no
extra charge. ngs aua gs
Now, mind you, I'm not advocating
rye bread and bologna sausage. as a
steady diet, nor would I dare say that
working man should always be con-
tent with this very simple meal.
I've never been an advocate of any
scheme which will teach working
man and his family how to live on a
dollar day. I'm more concerned about
schemes that will help him earn TEN
dollars a day.
But, take it from me, there were
certain distinct advantages in that ma
chine shop dinner" over my simple
luncheon" in swell restaurant, and
would gladly have paid $1.S5 for il
if | could have bought the. fun and
the freedom and the solid comfort thai
got out Of that 13-cent meal which
used to enjoy when l wore the over
ais
The World. [volume] (Martinsburg, W. Va.) 1912-1921, 1918-12-30

criticism by personal testimony. 1t
was easy for the scribes and Phari-
sees to ask the approval Of Jesus to
stone the women ..taken in adultery, in
the very act;;" but it was different
when he said, she that is without sin
among you, let him first cast stone
at her. @s
8. The Church must proceed with
caution in passing Judgment upon Of.
tenders against its standards Of moral
purity. Jesus came not to judge but
to save the world. Then, his parable
of the wheat and tares warns us of the
grief and harm that may be done in.
lnocent and yet Interested souls by
too hasty action. Besides, a process
of law before Church court is found
to be fraught with many risks to es-
sential and permanent good
And yet in spite Of all this, I feel
sure the churches of Martinsburg may
be confidently depended upon by their
devotion to truth and purity to con.
tinue to enjoy, the respect Of all It's
just minded citizens <. /
The World. [volume] (Martinsburg, W. Va.) 1912-1921, 1918-12-30
KILLING THE ROOT

Wilson's direct disavowal of the principle of the balance
power guide in the impending peace conference dsavow
the of his speech London Saturday strikes
the root of the evil which has been treaties of
history Whatever be the details of settlement the
table this ancient maneuveng by nations gather
hands of groIp of the larger the controlling ultimate
power be eliminated guide the parliament viii have
fruitful The balance of power arrangement based
upon sehness and competitive interest both Of which entire
y opposedst just settlements sAs
elimination of this prncipleor perhaps it should
by anything higher than the of policy will
dispose of the biggest preliminary mpedmens salts
factory peace the President succeed having eminat
ed will have taken long step towards finding peace f the
world.
The World. [volume] (Martinsburg, W. Va.) 1912-1921, 1918-12-30

And the boy who checked my hat
and coat
The World. [volume] (Martinsburg, W. Va.) 1912-1921, 1918-12-30
Communication
o the Editor of THE WORLD.

To the Editor of THE WORLD.
"The only means of bringing eff
fective pressure to bear In the gen
eral interest is publicity" wa~
i In view of the fact that men EN-.
rolled upon church registers; men in
the service of Christian churches,
whether members OF not; men who
are regular contributors to churches,
whether members or not, we're found
lately by officers of the law among
those bringing whiskey into this COM
munity in quantities above that which
was allowable by law and presumably
for purposes other than legal. no little
comment has been made thereon; the
churches involved, and for that mat
ter the church generally, Of the COM
munity have been reflected upon, and
the Christian profession of many held
up to ridicule.
We do not wonder at this: we in
terpret it rather to mean that the
public expects the church to stand for
it's highest ideals in morals. Neither
are we here to condone the "offenses
against God and religion These un.
happy men know only too well them.
selves that such course serves to
discredit the sincerity of their Chris.
tan profession and to make it void
and meaningless in the eyes Of the
world: our plea is that, II justice is
to-, be done the Church, and II
frankly accepts its due measure OF
responsibility for the conduct Of Its
people, more than the bare fact OF
completely in this offense must be
taken into account. d
/. No persons can be more deeply
grieved by their conduct, possibly out
side those nearest of kin, than those
who must confess church fellowship
with them.
o. 1t is the experience of churches
in matters Of this kind that the otter
self-appointed purist, who is the frs
to reflect upon the Church, is the las,
man to depend upon to make good his
The World. [volume] (Martinsburg, W. Va.) 1912-1921, 1918-12-30
REGARDING COMMUNICATIONS

suppose only natural that correspondents should seek
publicity wherever possible and that the
PLANTATION of the phenomenon wherein authors of communca
ons editorial Offices that their letters be published
assumed In accordance with public promise
which deserving
publicity But would contributors hereafter allow
their be published There many why
preferable the affixed hardly
Articles with added eliminate spe
euation the authorship Letters often lose something of
the elimination the of the author whose
standing would have added worth the contribution And per-
haps important Of ALL the public likes to who speaking
In the general interest therefore, contributors for
get dislike for publicity and let publish the of which
of be known though they not pub
lished.
GOOD EXANPLE Uncle Sam saved million in buying coffee
before the in price Moral Always buy before prices
up-when you know they're going to How easy
The World. [volume] (Martinsburg, W. Va.) 1912-1921, 1918-12-30
GAs-PRooF YANks..

A German lieutenant was making
record breaking time in the direction
of the Rhine and Berlin with. the de-
tachment of troops he was command
ing.
He was halted in his mad flight by
an "oberofficier" of the German Army
and inquiry was made. as to the why
of his retreat, and why he didn't use
gas on those 'verdammte" Americans
81 did, sir" pleaded the poor. lieu
tenant, but it wasn't any use. All the
gas does to them is turn their skin
black and their hair kinky, and they
keep on coming!"