davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1918-06-13
Last Vestige of
Free Steel Market
Now Wiped Out
Producers Receive With Relief
New Definition of Relations
With Government

The steel trade generally regards the
War Industries Boards order of June
the final step in making the govern
ment direction Of the industry thor
oughgoing. Difficulties in the inter
pretation Of the new order have arisen,
but there seems to be no real opposi-
tion to it.
In estimating the effect Of the new
move the current "Iron Trade Review"
will say to-day: "Washington's do
minion Of the iron and steel industry
Is complete. The final and historic
chapter written by the War Industries
Board June is In full effect. Not a
ton of mill or furnace product now Is
moving except in strict accord with
Federal rule or dictate. The small re-
naming vestige Of free market has
been wiped out. There has been some
hcsitancy, but no confusion. Producers
have received the new conditions with
something of relief. They have ac-
cepted the agreement as establishing a
definite and all inclusive plan Of pro-
cedure for the period of the war
"The literal significance of the agree
mcnt between the producers and the
government is that it formally trans
fers from the manufacturers into the
hands of the War Industries Board anc
the steel director the full responsible,
ity for the shaping Of production anc
distribution. The list Of priority pur,
poses which the government; mas se'
ahead of any non-war Distribution II
effect gives the government an elastic
! control over such excess production as
NAV appear from time to time
4 picture of the uncertainty as tt
the precise meaning and implications
Of the new order is given in the weekly
review of "The Iron Age" which says;
"As yet no direct notification of the
new order has come to producers, mol
has the operation of government prlorl-
ties as carried on for many weeks been
changed. Requests for interpretations
have poured in upon Washington,, but
thus far no official answer has been
given to the urgent requests of various
Industries to know whether they will
have much or little or no steel from
this time forth.
"The fact is that to-day no accurate
estimate exists or can be ma6s of the
governments steel requirements. Only
this week various departments have
sent to the Director Of Steel Supply
additions of not less than 100000 tons
to the estimates previously submitted
and the programme of the Shipping
Board and the ordnance bureau arc
still expanding.
Steel ingot production in May, un-
like that of pig iron, shows slight
falling off from the April rate. In
twenty-seven working days the output
of the companies which made 88 per
cent Of the country's total in 1916 was
3,256,965 gross tons, or 120,62S tons a
day, against 3,163,410 tons in April, or
12l,671O tons a day. The May rate
would mean about 42,3OO,000 tons a
year."
New-York tribune., 1918-06-13
Foreign

Paris Bourse Quiet.-PARIS, June 1o
Trading was quiet on the Bourse to-
day: Three per cent rentes brought
90 francs for cash. Exchange on Lon
don was quoted at 27 francs 16 CEN
times. Five per cent loan sold at SS
francs S centimes.
London Market Narrow.-LONDON
June Money was in fair demand
on the market to-day. Discounts we're
quiet. OF the S92,0O0,0OO treasury
notes bought last week SIS 1000 600 have
been repaid. On the Stock Exchange
sentiment was helped by the French.
success on the battlefront yesterday,
pansion outside of ordinary investment
operations which maintained Entente
Allied bonds and gilt-edged securities.
Grand Trunk and oil shares were firm.
Speculative issues were dull.
New-York tribune., 1918-06-13
Elections

j. H. Hull, vice-prcsident of the Will
lam Cramp & Sons Ship & Engine
Building Company. has been eieetea
president of that concern. succeeding
Harry w. Hand, resigned.
W. Emlen Roosevelt has been elect
ed chairman of the board of the Cen
tral & South American Telegraph Con-
pany, and James r. Beard WAS clectee
vice-president.
Edmund L. Baylies was elected chais.s
man of the board OF directors Of ~
Mexican Telegraph Company, sau|
James R. Beard. secretary. WAS sppot1H;
ed = vice-president.
New-York tribune., 1918-06-13
Regular Declarations

Allegheny & Western Railroad Companss
-Semi-annual dividend of So per share, pay
able July l to stockholders of record June "a.
Asheville Power g. Light Company.-.Quar-
terly dividend of 1A per cent on the pre-
ferred stock, payable July ! 10 STOCKHOLDERS
of record June Is.
Carolina Power & Light Company.-Quar-
terly dividend of 1A per cent on the pre-
ferred stock, payable July to stockholders
of record June Is.
Eastern Texas Electric Company.--Ssmi-
annual dividends of So per share on the pre-
ferred and $3.50 per share on the common
stock, both payable July 1 to stockholders OF
record June IA.
General Baking Company.-Quarterly divi-
dend of ] per cent on the preferred stock;
payablee July to stockholders OF record
June15.
Hollinger Consolidated Gold Mines.-Divi-
dend of per cent. payable June II to stock
holders Of record June 10.
Kolb Bakery Company.-Quarterly divi-
dend of IL per cent on the preferred stock:
June Is.
Manhattan Shirt Company.- Quarterly
dividend of IA per cent on the preferred
stock, payable July 1 TO stockholders of rec
ord June 21.
Regal Shoe Company.-Quarterly dividend
able July l to stockholders of record June 90.
terly dividend of 2 per cent. payable July
to stockholders Of record June 16.
Yadkin River Power Company.-Quarterly
dividend of 1A per cent on the preferred
stock, payable July l to stockholders OF rec
ord June Is.
Canadian Southern Railroad Company
Semi-annual dividend of 115 per cent, pay
able August l to stockholders of record June
Cleveland, Cincinnati, Chicago & ST. Louis
Railroad Company.-Quarterly dividend OF
1Ls per cent on the preferred stock, payable
July 20 to stockholders of record June 2S.
Detroit River Tunnel Company.-Seni-an
nual dividend of 3 per cent, payable July is
to stockholders of record July 3.
Michigan Central Railway Company
Semi-annual dividend of per cent. payable
July to stockholders of record June %.
New York Central Railway Company
Quarterly dividend OF l "A per cent, payable
August l to stockholders of record July Q.
Kanawha & Michigan Railroad Company.
Quarterly dividend of Il per cent, payable
July 80 to stockholders Of record July Is.
Merchants Dispatch Transportation Com
payable June 20 to stockholders of record
June "a.
American Type Founders COMPANY
Quarterly dividends of l per cent on the
common and 1sa per cent on the preferred
stock, both payable July Is to stockholders
OF record July 10.
Barnhart Bros. & Spindler Quarterly dlvi-
deads of y per cent on the first and second
preferred stock. both payable August i to
stockholders of record July 81
Bucyrus Company.--Qua dividend of
! pei. cent on the preferred stock. payable
July to stockholders of record June 90
Dodge Manufacturing Company.-Quarterly
dividend of Ia per cent On the nreserrsd
stock. payable July !.
Ohio State Telephone Company.--Quarter-
~ dividend of Y per cent on the preferred
stock, payable July to stockholders of rec
;, Standard Coupler Company.--semi-annua
dividend OF per cent on the preferred stock.
payable June 20 to stockholders of record
June %. oi"
dividend of per cent.
New-York tribune., 1918-06-13
The Dollar in Foreign Exchange

Increasing strength of Italian ex-
change was the feature of dull market
IN foreign exchange yesterday. AS a
result of the steps that are being taken
to stabilize the rate on Rome, lire ad-
vanced to 9.07 for checks, compared
with Oil the day before.
Sterling bills and francs were steady,
while Spanish pesetas displayed a
slightly easier tone.
Closing rates yesterday, compared
with a week ago, follow:
Quoted dollars to the pound.)
New-York tribune., 1918-06-13
Rock Island Dividend Deferred
Savings Banks in Strong Condition

Trustees of savings banks will meet
within the next few DAYS to take action
on the question of the amount of in
tterest to be allowed on deposits, and
it is asserted that the leading institu-
tions will declare interest at the rate
of per cent a year on deposits for the
six months ending June 80. Although
all of the savings banks were large
subscribers to the different Liberty
Loan issues. which led to the with
drawal of substantial amounts by de-
posltors, 1T is asserted that the de-
posts have been nevertheless we'll
maintained, and in the case of some
banks have been increased.
New-York tribune., 1918-06-13

The above rates express the cost of
foreign money in terms of the Ameri-
can dollar. You buy an English pound
sterling at, say, $4.75as. The intrinsic
parity is s4.865s per pound. Thus you
say either that pounds are at dis
count or that dollars are at a 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., 1918-06-13
Reports Increase In Denosita

according to statement issued yes
terday by John J. Pulleyn, president
of the Emigrant Industrial Savings
Bank, the deposits of that institution
VIII on July approximate s171, 200, 900,
a new high record, and an increase of
So,ooe,o0o compared with January
last =
New-York tribune., 1918-06-13
Money and Credit

Somewhat easier. conditions nre-
vailed in the call money market yes
terday and the ruling rates at the
Stock Exchange were to 51a per cent,
compared with 6 and e1a on Tuesday.
The market for fixed date funds con-
tinued inactive, with only a small
amount Of money being placed A few
loans were reported as being made
on industrial collateral at per cent
Ruling rates for money yesterday.
compared with q year ago. were a.
follows:
Yesterday. Year ago.
Per cent. Per cent.
On mixed collateral S 4M
On industrial col'ta 5Ks 4s4
Time money (mixed collateraD:
Sixty days. 5a4@6 4Ls@5
Ninety days. $1,000 4H@5
-Four months. 5a4@6 4N@5
Five to six months 53a@6 4NM5
Commercial Paper-Rates are be;no
firmly maintained at per cent for
the best regular maturities. Only a
moderate amount of paper Is moving.
Bank Acceptances.-The demand for
bank acceptances continues fair. Rates
yesterday were as follows:
Thirty Sixty Ninety
Spot de- days. days. days.
livery: Per cent. Per cent. Per cent.
E i Bile
m e m bar
banks: .4M@4 4h@4h>4h@4M
G ig bic
nonmem-
Der banks.4"@41s 4as@4I4 4h@4n
Ineligible
bank bills.54@4a4 sI4@4s4 6M@4sz
For delivery within thirty days:
Per cent
Eligible member banks. .... 4h
Eligible non-member banks. 80. asa
Ineligible bank bills
Discount Rates.-The following table
gives the current rates of the twelve
Federal Reserve banks on commercial
paper on all periods up to ninety days:
New-York tribune., 1918-06-13
K. r. Contract Still in Doubt

In railroad circles it was said yester-
day that several weeks will probably
clapse, and perhaps more, before an
agreement has been reached between
the roads and the government regard.
ing the details of the contract. The
contracting parties are still far apart
on or many points. it was assorted, and
there IS yet no indication of compro-
mise being made. The main obstacle
IN the way of settlement is the cues
ton of the extent to which there shall,
be departure from the so-called stand
ard return or the average of the net
operating income of the railroads for
the three years designated in the rail-
road control law. The extent of gov
ernment control over the disposition of
the funds paid to the roads as rental
is also much disputed question.
Plenty of Coffee Coming
The United States Shipping Board
has assigned the steamers Florida, Az
kansas and Newa to bring coffee from
Brazilian ports to New York. according
to notice received yesterday By the
New York Coffee Exchange. Their clear
ancc will occur in July and August
and the rate is to be $I70 a bag. I'm
porters of coffee desiring to avail
themselves of the space on the vessels
must notify the War Trade Board at
Washington of their requirements by
June Is. No official figures are availa-
bic as to the amount of coffee that can
be taken care of by the allotment of
ship space.
New-York tribune., 1918-06-13

Finance Economics

clearings at New York and other
cities were:
Exchanges. Balances.
New York. :. .s55o,5o4,514 s52,52o, ,845
boston 56,7e4,129 7,651,o11
Chicago 49,. o9,574,6eO 4,884, 1853
Philadelphia. 63.331,159 12,64S,772
Sub-Trcasury.-Thc banks gained
from the SubTrcasury yesterday
S39S,000.
Gold Shipments. Gold to the
amount of $4,000 was withdrawn yes
terday for shipment to South America
1t is understood that the metal will
go to Chile
London Money Market. - LONDON,
June 12.-Money was firm at 274 per
cent Discount rates were: Short bills,
1882 per cent; three months bills,
3hs per cent Gold premium at Lis
bon was at 1870.
New-York tribune., 1918-06-13
Relevant Comment
Pittsburgh & w. Va. Shares Strono

A'.SDui SH o. w. va. Shares Strong
both the common and preferred
ginia Railroad sold up to new hieh
record prices on the Stock Exchange
yesterday, the former advancing to
oo9s, and the latter to 76A. This com
Pany is the successor to che old Wa
bash-Plttsburgh Terminal Railway. and
since the reorganization earnings have
shown marked improvement. Recent
buying OF the preferred and common
stocks is attributed largely tn Balti-
more interests,
Armour Stock Increase
dispatches from Chicago yesterday
lnoicated that Armour & Co., as part
oi us programme for raising new
W. weorS1ng sen &c CAPITAL through the issuance
OF ,Soo,Ooo,00O per cent debentures.
Will authorize an issue of s1O0. 900 .O0o
preferred pre- per cent stock and $500
ooo,oOO common stock. The enlarge
ment of the capital will not at this time
mean, 1t was said, any change in con-
troll, as Ogden H. Armour is Believed to
own individually $80,OOO,OOO of the
present capitalization.
Rock Island Dividend Deferred
Directors of the Chicago, Rock ISL
and g. Pacific Railway, at a meeting
held yesterday, voted to defer action
on the semi-annual dividends on the
preferred stocks, pending receipt of
80 per cent of the company's standard
returns, application for which has been
made to the railroad administration at
Washington. The declarations due at
this time ere 31z per cent on the Z
per cent cumulative preferred, and 8
per cent on the per cent cumulative
preferred.
New-York tribune., 1918-06-13
Specials

Mahoning Coal Railroad Company
A special dividend of SIS per share has
been declared on the common stock,
payable July l. to stockholders of rec
ord June 21; the regular semi-annual
dividends of 21s per cent on the pre-
ferred, payable July to stockholders
of record Tune 81, and 10 per cent on
the common stock, payable August to
stockholders of record July 10, were
lro loo
New-York tribune., 1918-06-13
State Tax on Incomes of
Manufacturing and
Mercantile Corporations

D>IIE State of New York imposes a tax
Il of three per cent on the income Of
manufacturing and mercantile corporations.
Reports of incomes must be filed with the
State Tax Commission on or beforc July
I, 1918, or within thirty days after max
ing Federal Income Tax return to the
Government
synopsis of the principal features of the
law and its full text, as amended arc pub
lishcd In convenient form in our booklet,
"New York State Franchise Tax on
Manufacturing and Mercantile Corpora
tions," which will be sent on request.
Guaranty Trust Company
of New York
40 Broadway
FIFTH AVE. LONDON OFFICE
E"e' Ave. @ @Srd St 81 Lombard E.
MADISON AVE OFFICE PARIS OFFICE
Madison Ave. It.Een.1&a
Capital and Surplus $5O,0OOo00
Resources more than $6OO,000000
New-York tribune., 1918-06-13
Dividends
Extras

Extras
First National Bank Of Boston.-An
extra dividend of 81 per share, in addi-
tion to the regular quarterly dividend
of 81 per share, has been declared, pay
able July l to stockholders Of record
June 1G.
American Brake Shoe & Foundry
Company.-Two extra dividends Of 1
per cent each have been declared on the
preferred stock, payable June 20 to
stockholders of record June 21, and
September 80 to stockholders of record
September 20.
United Shoe Machinery Corporation.
An extra dividend Of 81 per share
has been declared on the common stock,
in addition to the regular quarterly
dividends Of 80 cents per share on the
common and 371a cents per share on
the preferred stock, all payable July 5
to stockholders of record June 18.
New-York tribune., 1918-06-13

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., 1918-06-13

Bank Clearlngs.-The days bank
The Logan Republican. [volume] (Logan, Utah) 1902-1924, 1918-01-01
EARLY LAMBS
SHOW BIG PROFITS

Raising early lambs is profitable
business on any Eastern farm. The
lambs are finished and marketed
early and the ewes are sheared dur
ing April. At that season the fleece
is In first class condition and will
command good price in the wool
market. The wool helps to pay for
the cost of feed. And the manure ia
rich fertilizer that is worth all the
straw and roushage used to make It,
It costs 'about two cents day
II consider It costs me about two
cents day to feed sheep. be-
cause I raise all the rations and
the roughage on the farm. Under
my system Of raising sheep. I blu,
the ewes at the stockyard in July
and the same animals are condition
The Logan Republican. [volume] (Logan, Utah) 1902-1924, 1918-01-01

cash and merchandise prizes were Of
fered by the merchants to stimulate
activity. Gardens were carefully
scored each month by the supervisor.
Out OF the 200 members who en-
tered the race. 1856 concluded the
season with successful gardens. None
Of these scored below 81 points.
The monetary value. at market
prices. Of the produce grown was
l$19,036.9O. The educational value
was beyond computation.
The whole venture has been 80
eminently successful that the school
board contemplates making the
movement part Of the regular cur
riculum of the schools Of the city.
At the close Of the summers work
when the final prizes were awarded
many new members were added to
the club. and the prospects for a
still bigger and more successful war
garden drive are promising for the
season Of 1918.
Conclusion
Cache invites the home seeker to
settle In It's borders. to enjoy Its
matchless climate. its high state of
development, and assist it's good peo-
pie in further developing Its re-
sources. Educate your children In
her public schools and colleges. turn
your cattle on her thousand hills.
till the fertile soils. operate mills
and factories, reap the bounteous
harvests therefrom, and live. laugh
and love with her citizens and her
farmers.
The Logan Republican. [volume] (Logan, Utah) 1902-1924, 1918-01-01
Cache County
and Logan City
CONTINUED from Page 81

apecessary to bring employer and en-
Jployee together. BY keeping an ac-
seount OF the whereabouts of labor
ears. and the duration of the Jobs to
(which they were assigned, It has
ibeen possible to so shift them about
,thst. none remained idle, and en-
xplnyers had the benefit Of the full
capacity of the labor within the
tCunnty.
I'm the matter Of supplies. the Blu
~ean has striven to bring seller and
sburer together to the end that the
1peuple have been able to dispose Of
THAR surplus, or purchase their ne
scexsities. with no further effort than
.sasrsuuest at the office. and this with
<om roaying commission on either
.-sidM.
The services Of the Organization
have been absolutely free to all. Its
Enhances have SO far been provided
through the generosity of the County
commissioners and some of the larg-
sar corporations of the valley.
So indispensable is the Bureau now
sconsidered that these contributions
Nave been sufficient to enable II to
continue throughout the winter, and
Hrom all appearances It will become
- permanent factor In affording a
profitable and convenient means OF
handling some Of the economic az
Fairs OF Cache County.
Tho War Garden Movement
Responding to the appeals Of the
government for more extensive
planting and greater conservation Of
tillabls land space, the City of Lo-
gan. In conjunction with the Com
E mercial Club. inaugurated the Home
Garden movement.
Through special committee ap.
pointed for the purpose general
mass meeting of parents and chill
aren interested was held. resulting
In the organization OF a club with
1875 boys and IS girls as enthusiasts.
tic members.
The movement was financed by
the Commercial Club. the school
board and the city. Mr.. Dolores Nj
-chols. Of the U. A. c.. had immedi
ate charge, Of the work.
All vacant lots In the city wer,
listed. Club members were assigned
lots free Of charge. Many vaiuabl,
The Logan Republican. [volume] (Logan, Utah) 1902-1924, 1918-01-01
p. o. HANSEN AN
OLD TIMER IN
MONUMENT WORK

p. o. Hansen. the stone cutter OF
wide acquaintance In northern Utah.
and one Of the oldest dealers in high
grade monuments In the State, has
q very fine home on North Main
street where he handles line Of
monuments Of granite and marble,
second to none to bs found anywhere,
He claims to be In . position to sat.
isfy allcomers. whether they want
small markers or the large family
monuments. His establishment IL al
270 North Main street and . big line
of sample stones are in stock At oil
times.
The Logan Republican. [volume] (Logan, Utah) 1902-1924, 1918-01-01
U. o. LUMBER CO,
SUCCESSFUL IN
BUILDING LINE

The y. o. Lumber Company on
North Main street II one Of the old
est lumber yards In Cache Valley.
1t is managed by A. L. Cole, prom
inent and successful man of the
community. A large stock Of paints.
varnishes. builders hardware. roof
ing and glass is carried in stock. in
addition to full line Of shingles,
lath and lumber for every purpose.
"A we'll equipped shop for manufac-
turing building accessories Of all
kinds. together with experienced
workmen 60 to make up a very mod
ern lumber yard.
The Logan Republican. [volume] (Logan, Utah) 1902-1924, 1918-01-01
NEW BUILDING
FOR GLAZIER
BUSINESS

/ j. p. Larsen. resident Of Logan
for forty years, and prominent
business man. having fine new
store on North Main street at the
corner of Third North street, where
he conducts a plant for manufacture
ing picture frames and glasier
business. says he has more work at
present than he is able to take care
Of. Mr.. Larsen started out in bust
ness in small way but through his
careful attention to the work en-
trusted to him he has built up an
enviable trade.
The Logan Republican. [volume] (Logan, Utah) 1902-1924, 1918-01-01

ed for market and sold the follow
ing March or April.
The cost of maintenance for about
ats days is So. This year the wool
averaged So an animal. The ma
nure is profit, Each lamb brought
$40. The fattened ewes always aver
age profit Of $3.50 head. There
fore I get a profit Of 81 a eve for
the 275 days on the farm and the
manure --Farm and Fireside.
The Logan Republican. [volume] (Logan, Utah) 1902-1924, 1918-01-01
MERCHANDISE GOING AT >
BIG REDUCTIONS,

lac Economy Supply Company, un-
der the management Of e. J. Broberg
who u receiver Of the firm, having
been appointed by the courts to close
out the stock. is selling out the en-
tire stock at greatly reduced prices.
Some excellent bargains are being
given in, dress goods. ladies UNDER
wear, crockery and in fact every line
carried. Mr.. Broberg says that such
prices will never again maintain in
this city until after the war.
The Logan Republican. [volume] (Logan, Utah) 1902-1924, 1918-01-01

Mr.. and Mrs. George Thomas. Of
Rigby. Idaho. have been in Logan
for q day or two. having stopped off
here ON q visit prior to leaving for
California on an outing.
The Logan Republican. [volume] (Logan, Utah) 1902-1924, 1918-01-01

d. Ray Shurtliff. manager Of the
Royal Shoe Repairing Company. is
in Logan on business.
The Logan Republican. [volume] (Logan, Utah) 1902-1924, 1918-01-01
al AD y s7ElN?

MONEY TO LOAN-One hundred
and fifty thousand dollars ON farm
and city property. H. A. Peterson
q Co. - g Il
The Logan Republican. [volume] (Logan, Utah) 1902-1924, 1918-01-01

RED CROSS SEWING MADE EASY
Second hand sewing machines for
sale. 80 and up. 81 West First South.
Phone 469-W. Il
The Logan Republican. [volume] (Logan, Utah) 1902-1924, 1918-01-01

Jonathan apples for sale. Call
Gas. Adv. Il
The Logan Republican. [volume] (Logan, Utah) 1902-1924, 1918-01-01

FOR RENr-e-room modern house
close in. Cali ssz-J-a. u.