davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1918-11-08
Marine Directors !.
Receive British
Syndicate Offer
Proposed Deal Would
Leave $13O, 900, 900 in For
eign Company's Treasury

P. A. s. Franklin, president Of the
international Mercantile Marine Com
pany, announced yesterday afternoon
after meeting of the directors, that,
ii accepted. the offer brought over by
Harold A.. Sanderoon, chairman of the
board. involving the purchase Of the
brltlsn-owned companies, would leave
IN the treasures Of the British COM
panles between 42S 900, 900 and s27,-
100000 (from $3.50, 100000 to $780,
100000, with exchange rates norma)
Mr.. Franklin declined to go further
into the details If the deal, except to
state that it was looked upon with
favor by the American directors and
that their final decision might be an
nounced some. Sime next week. Mr.
Sanderson arrived in this country last
Tuesday with the terms of the pur-
chase plan, which is understood to have
come from an English financial syndi-
cate. This offer. Mr. Franklin said was
the first definite" one that had been
before the board.
AS soon as the details of the deal
have been arranged" Mr. Franklin add
ed, "a special meeting Of the stock
holders will be called to obtain their
approval. After the final details have
peeH WORKED out Ihe international M Mer-
camille Marine Company will have left
nine ships in it's American feet and
two ships under Belgian registry. The
tonnage involved in the proposed sale
OF the British boats aggregate approx
mately 100000 tons"
The companies expected to be sold
by the American holding corporation
include the White Star Line, the At
lantic Transport Line, the Ley
land Line and the Ocean Steam
ship Navigation Company. The Amer
lean ships which will be retained
are the New York, the Phlladel-
phla, the St. Paul, the St. Louis, the
krooniand and the Finland. The last
two are Red Star Line ships, which be-
fore the war were in the New York
Antwerp service.
Although no official information has
yet been given as to what disposition
will be made Of the cash that will ulti-
mately be turned over to the Interna-
tional Mercantile Marine Company in
the event that the sale OF the British
properties is approved, it has been re-
ported in the financial district that the
American company will be liquidated
and that new company will be formed
as part OF merger comprising great
American merchant fleet.
New-York tribune., 1918-11-08
Commoditie
In d u strial
Cotton

Excited and erratic fluctuations OF
approximately $5 bale took place in
the cotton market yesterday. After
selling at 29.40 early, January broke
to 27.90, rallied 20 1920. and closed at
28.7S, with the general list closing
steady at net decline of 10 to AZ
points. The midday rally came quickly
after unsubstantiated reports reached
the ring that Germany had signed the
nrmistice, and for time during the
middle of the afternoon business was
virtually suspended, while brokers de-
voted their attention to celebrating
pending confirmation of the reports
ms was not forthcoming, and later
advices from Washington denying that
the armisticc had been signed were
followed by reactions, although there
was evidently feeling around the
ring that the German submission was
crly a matter of hours.
The market opened steady at an ad-
vance of to 27 points on overnight
buying orders. but quickly broke under
Liverpool: Wall Street and Southern
after the heavy covering of the past
two or three days and stop orders
were uncovered on the decline of about
100 to 142 points below Wednesday's
closing figures. The market then
steadied on covering and recovered it's
losses within q very few minutes when
the rumors that the armistice had been
signed were received. December sold
up to soc and January to 1920, or 1870
TO 1870 points from the lowest, but later
fluctuations were extremely nervous
and irregular.
The range Of prices follows:
New-York tribune., 1918-11-08
Steel Stocks Neglected

Definite announcement of further
cancellation of steel orders by "The
Iron Age" coupled with the reports
that the war is over. left little TO base
rise in the iron and steel stocks yes
terday. Steel, common, pursued an err
ratio course. After touching lO4M in
the early trading it declined to 1909
then rallied to above 1903 in the general
enthusiasm engendered by the feeling
that peace is at Land. and finally closed
OFT IL points At 1929. Bethlehem
Steel "B," tne premier war stock, found
few buyers and left off the day at 81.
for net loss Of 2as. Republic Iron and
Steel displayed greater ra.lying power.
Following a recession to 774 it re-
covered to 80 at the close, net decline
Of 1 4 points.
New-York tribune., 1918-11-08
Corporate Returns

Virginia Railway and Power Com
pany.-The annual report for the year
ended June 80 last shows gross earn
413,034 over the preceding year. After
operating expenses OF s4,100,492, net
operating revenue totaIled s3,357 ,038.
to which other income of $115,865 was
added. making a gross income of s3.~
472,S02, an increase of ,309. Taxes
and licenses amounted to S46G,173.
Surplus after charges were s1,428.447.
American Steel Foundries Company.
Report for the nine months ended
September 80 discloses net earnings Of
S6 S5S.019, an increase of S1,2Sa lO6
over the corresponding period of last
year. Balance after depreciation
New-York tribune., 1918-11-08
Sinclair Oil Has Sharp Rise

Publication yesterday of larger earn
lngs foY the Sinclair Oil and Refining
Company during The September quarter
was followed by q sharp rise in the
stock, which closed at SO, an advance
of 21s points ever Wednesdays last
sale, and only point under the high
est price of the year. Although the
amount set aside for taxes from the
earnings of the third quarter was al
most double that for the correspond
ing period of 1917, the balance made q
favorable comparison with the showing
of the June quarter and was far ahead
Of the March quarters earnings. The
company announced last July that it
had begun the construction Of g new
pipe line at the request of the govern
ment to deliver larger quantities OF
petroleum at the Atlantic seaboard
from the Oklahoma and Kansas oil
fields
New-York tribune., 1918-11-08
w Wealth Markets and Comm s@
Relevant Comment
Rails Eagerly Bought

In yesterdays excited bidding fol
railroad stocks following publication OF
The United Press report that Germany
had signed the Allied armistice terms
several issues made new high record
prices for several years. Southern
Pacific was conspicuous example
reaching 40 in the late trading. The
last time this issue sold at this level
was in 1918. Texas and Pacific at "a II
was at the highest price in the stock &
history Union Pacific made a new
peak for the current year ut 1917
Erie, common, came to life and ad.
vanced 2M points to q, and at its
best quotation of 21A it to> >ched the
highest price since early in 1919. The
net gain in Northern Pacific raa at
one time to over Z points.
New-York tribune., 1918-11-08

The above rates express the cost Of
foreign money in terms Of the Amer
lean dollar. You buy an English pound
sterling at, say, $4.7545. The intrinsic
parity is s4.s65s per pouno. Thus you
say either that pounds are at dis
count or that dollars are 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., 1918-11-08
To Inspect Smelters' Properties

Members of the Executive Committee
Of the American Smelling and Refining
Company, headed by Willard S. Morse,
left yesterday for a six weeks nspec-
tion trip of the company's Mexican
properties. 1t will be the purpose Of
the party to expedite the development
work recently begun in anticipation Of
the depletion of ore reserves of mines
now in operation. as we'll as to further
the resumption of capacity operations
at existing mines and smelling plants.
1t is stated that the company has now
attained 65 per cent of the capacity of
the Mexican mines, while of the five
smelters four are operating at 70 per
cent of the maximum OUTPUT.
New-York tribune., 1918-11-08
> u 8 t e n a n c e
Cereals

Wheat.-With the coming of peace
the United States and Allied govern
ments are confronted with the colossal
undertaking of feeding large part of
Europe. 1t was reported that the Food
Admir- iseration. IL conjunction with
similar organizations abroad. is now
WORKING on plan for the most eout-
able distribution of required foodstuffs
Corn.-The corn market was tbe
scene of great excitement during yes
terday's session owing to reports in
circulation that the German Represents.
tlves had signed the armistice on the
western front and that hostilities had
ceased. The trade was at somewh ~
OF loss to know how to construe The
news, and throughout the dav nrire
changes were quick and feverish both
ways, the close being 3kc lower TO u =
net higher ~
Yes'day's Previous Year
Corn No. yellow $1.44 s143
Chicago:
DeSsmSsr Desembsr . ] 1.So g., t-ss1a ss; ., 49,
Oats.-Underlying sentiment in ths
oats market seemed to lean to the bu)J
SIDE, owing to the renewed activity on
the part of exporters, but there was
TOO much excitement over the peace
news to justify aggr .ssive operations,
ana consequently price chenges were
feverlsh and the close showed but
New-York tribune., 1918-11-08
Marine Announcement Disappointing

An explanation for the "good selling"
this week in the International Mercan-
tile Marine shares was found after the
close OF tke stock market in the an
nouncement yesterday by President
Franklin that the directors for the first
time had received a definite PROPOSAL
from English financial interests to ac-
quire the British owned subsidiaries.
That no details Of the offer were Off
cially made public was considered dis
appointing. The only fact definitely es-
tablished, so far as the stockholders
are concerned, is that between $3.50, ,000,-
600 and $135, 100000 cash will be left in
the treasures of the British properties
if the deal is contaminated If it is true,
as has been stated, that approximately
S40,00O,000 cash is now held by those
companies, this would mean that the
sum involved in the proposed purchase
is between $90,000,000 and $95,0O0,O00,
and not s125,00O,O00 as has been COM
monty reported
New-York tribune., 1918-11-08

totalled s6.552,E57, an increase o.
$983,246. Total income was s6,6s4,2so,
from which charges Of s117, ,497 we,s
deducted. Federal tax reserve amounted
to $3,97O,0o0. Surplus was s2,6oe,72s.
or the equivalent Of s15.16 per share
which compares with S3,S86,7Ss, o.
S2f.45 per share earned the nine
months ended September SO, 1917.
Manhattan Gas and Electric Com.
pany.-Gross earnings for the year
ended June so last amounted to siSs.
492. Net earnings were $S4,127 ana
surplus was $17,627-
Minnesota Gas and Electric Con-
pany.-Gross earnings for the rear
ended June 30 were $140,9S5, i,en
which taxes, etc. Of $95,718 were de-
Quoted, leaving net earnings of s45,sK
After interest on bonds of s1S,s0O
surplus was $26,316.
New-York tribune., 1918-11-08

The Federal Reserve Bank Of New
York has put in force the following
schedule Of rediscount rates which ap-
ply to bankers acceptances: Maturities
up to Is days, per cent; 16 to so
days. inclusive, AZ per cent; 81 to 90
days, inclusive, Az per cent.
Bank Clearings.--Bank clearings yes-
terday in New York and other cities
we're:
Exchanges. Balances.
New York -. $780, 153, ,482 $86,o21,4t1
Boston ....... 72,647,o7O 1880. 1865
Philadelphia. 81,909,8e0 18,309,059
Sub-Treasury. The banks lost
$887,000 to the Sub-Treasury yester-
day.
SiIver.-London, 49hd, unchanged;
New York, 101 1Ac, unchanged; Mexican
dollars, 77hc, unchanged.
Bank of England Statement.-LON-
DON, Nov. 1.-THE weekly statement Of
the Bank of England shows the follow
New-York tribune., 1918-11-08

Wall Street also. being mortal,
found joy In it's delusion, and in
dulged in an orgie Of excited specu-
lation on the strength Of reported
peace.
New-York tribune., 1918-11-08

pal improvements, and the like, such
contraction has actually taken
place. These will be compensating
factors in postwar adjustments.
New-York tribune., 1918-11-08

A great many persons have the
impression that our own war de-
mands have greatly augmented both
production and trade. In point of
fact production in many basic lines,
as steel, copper, cotton and the
cereals, has been this year either
below 1916 or only about the same.
AS for business, the total of bank
ciearings SO far this year, for the
whole country, shows practically no
advance over the same period Of
1917. AS general prices and wages
have increased by at least 10 per
cent, If not somewhat more. this
means that the actual volume of
business exchanges has been some
what less. The government has
spent this year SO far not less than
ten or twelve billions fourteen bill
ions since April, 1910. This i'm
plies, therefore, very marked and
definite contraction in other fields.
We know very definitely that in a.
number Of lines, as building. real
estate, tae motor industry, munich
New-York tribune., 1918-11-08
U. S. port stks. 1894 ,sos 1,2o7,sts 1,o7o,7s5
Interior receipts. 29,27S 28,f1o AZ. $40
dc shipments. 21,f75 21,914 40.e2e
n. Y. arrlvals.. 1,075 1882 2,o51

Liverpool CabIes.--Spot cotton quiet;
maddling "a points higher at 2139d;
good middling, % points higher at
20.97d. Sales 1000. including 1000
American. Imports 1000, none Ameri-
can. Futures opened steady. at 19 to
"a points higher. Closed unsettled at
& net decline of IS to 25 points. Nov.
2o95; Dec, 20.26; Jan, 1885; Feb.
1898; Mar, 1916. Manchester: Yarns
and cloths dull
New-York tribune., 1918-11-08

Ine PfoPortl0n Of the banks reserve
to liability this week is 17.7 per cent:
last week it was 1923 per cent. Rate
OF discount was per cent.
London Money Market.-LONDON.
NOV. 7:--Money was firm at 3h per
cent. Discount rates we're: Short and
three months bills, 3 1882 per cent.
Gold premium at Lisbon, 10000.
Bank of France S:atement,-PARrS
Nov: 1.-THE weekly statement of the
Bank of France shows the following
changes in franco. 'S
New-York tribune., 1918-11-08

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., 1918-11-08
News Digest
Foreign

Foreign
Trading Quiet in Paris.-PARIS,
Nov. 7.-Trading was quiet on the
Bourse to-day. Three per cent rentes
sold at 80 francs for cash. Exchange
on London was quoted at 26 francs 5
centimes. Five per cent loan brought
81 francs So centimes.
New-York tribune., 1918-11-08

Cotton Seed Oil.-There was no new
feature in the market yesterday, but
the volume of business is increasing
somewhat. owing to an enlargement
in the movement from the mills where
labor conditions have improved.
New-York tribune., 1918-11-08
Coffee, Sugar, Tea and Cotton.
seed Oil

Coffee Futures.-Liquidatio of out
standing coffee contracts was less ac-
tive to-day, which might indicate that
most Of the contracts had been evened
up, although holders have until No.
vembcr 9 to make settlement at maxi
mum prices.
New-York tribune., 1918-11-08
The Dollar in Foreign Exchange

The foreign exchange market YES
terday, in the opinion of bankers
skilled in reading it, seemed to reflect
belief that peace was near. Rates on
London and Paris were firm, those on
the latter city reaching a level more
favorable to France than any reached
since 1915. Neutral exchanges uni
fcrmly moved radically in favor of
New York. reaching the aowest points
OF the year. The neutrals are fast an
preaching par.
Closing rates yesterday, compared
with week ago, follow:
Quoted dollars to the pound.)
New-York tribune., 1918-11-08

Discount Rates.-Tho following table
gives the current rates OF the twelve
Federal Reserve BANKS on commercial
paper for all periods up to ninety days:
New-York tribune., 1918-11-08
Cheese and Eggs

Cheese.-Receipts to-day, 1926 boxes
including 3f7 boxes in transit for sl'
port. State, whole milk, fresh fats
specials, colored. lb, S2@33c; white
G2a @33c; average run. colored, Ssci
white, 32c; lower grades, 9O@Slsti
twins, specials. 80 4 Q33c; average rl
32c; lower grades, 3003l1s nsa
held, specials. 31@321 &c; average run fal'
300321sc; twins, held, specials, ole
grades. 20@201sc; Wisconsin, whoIs
milk, single daisies, held. S2@Sshe,,
fresh 35c; Young Americas, fresh' 80
Q37c.
Eggs Receipts to-day as repoftsu
by the New York Mercantile Exchangs'
1882 packages. Fresh gathered extras
per dozen, 6S@69c; firsts, 6S964c; ses,
onds, 56@5Sc; poor to fair. S2goosi
Dirties, No. l 46G47c; No. 2 aaS
poorer, 42@45c. Checks, good ~ -
choice, dry, 42@43c; under grades, 0e9
41c. Refrigerator, special marks, Isne!,
charges paid, 470, 48c; iirsts. charge
paid, 45G47c; seconds, charges pau
4214 0441ac. State Pennsylvania s.s
nearby western hennery, whites, nue. "
fancy, 96Ms1. Pacific Coast whlIss'
firsts to finest. 94095c. State, PennssEs,
vania and nearby hennery, browns, Ivy
74c; gathered brown and mixed cows
60065c.
Hay and Straw
Yesterday
(Per toni. A year ss"
large bales 'sss.oo@s $500 s2s.oo@s se9w
No. clover mxd %. @27.oo 24.NglV.s-
Rye straw. No. fs.oo@2o.oo 1T.ooe
New-York tribune., 1918-11-08
Interborough Rapid Transit COMPANY

sight variation from the final 0,
Wednesday.
Yesterdays Previous
New York: close close Year ago
Oats, No. 3 white. .79A .7sDs IS
Chicago:
November ..... ~ .72Hs
December ......... .7o1a .7o1s .5ss
Flour and Meal.-Quotations were:
Yes days Previous
New York: close. close. Year ago
Flour. MINI, sp. pat.s1o75 sfo.75 sf1.0
Cornmeal, vel. gran. 4.2o 4.20 9.s1Fs
Rye -four. choice. 900 e@e.50 -sAs
New-York tribune., 1918-11-08

The local market for spot cotton was
quiet and 80 points lower at 1926, COM
pared with 31.60 the day before and
1885 the year before There were no
sales of spot.
Southern spot markets follow: Gal
weston steady, unchanged at 31.5O; sales
547 bales. New Orleans steady, un
changed at 3O.3S: sales 1858 bales,
Mobile nominal, unchanged at 1888;
sales bales. Savannah quiet, un-
changed at 1880; sales 247 bales. Nor
folk steady, unchanged at 1925; sales
55S bales. Augusta quiet, SO points
lower at 2S.75; sales 924 bales.
Memphis steady, unchanged at 1880:
sales $500 bales. Houston steady. 25
points lower at 31.25; sales 1851 bales.
Little Rock quiet, unchanged at so:
sales 1893 bales.
Yesterdays cotton statistics follow.
Yesterday. Last wk. Last yr.
rort receiprs N.O12 39,6O4 1850
Exports season.. ss5.6o7 e44.452 1,368.073
M I. stochs... 124.246 s7,a6s 1856
New-York tribune., 1918-11-08
Money and Credit

Call money became frmer yesterday
after further government Withdrawals
of funds from the banks. Nearly $7o,-
100000 was withdrawn yesterday and
S10o,o00.ooo the previous day. it was
said. The action Of the government
cnded the temporary easing in money
rates which followed the payment Of
the first instalment on the fourth Lib
erty loan. The ruling rate on mixed
collateral was per cent and on indus
trial collateral GA per cent. A mod
crate amount of thirty-day time money
was offered.
Ruling rates for money yesterday,
compared with year ago, were as
follows:
Yesterday. Year ago.
Per cent. Per cont.
Coll v,,0~a-.
New-York tribune., 1918-11-08

Bank Acceptances.-1'he bank accept
ance market yesterday was without
feature, with rates unchanged.
Thirty Sixty Ninety
Spot de- days. days. days.
livery: Per cent.Per cent.Per cent.
Eligible
mem Der
banks. .4M @4Is 43s@4A 43k@4M
+ ligihle
non-mem-
Der banks.47s@4A 4S@4A 4La@4ss
Ineligible
bank bills.5I2@5 5Ia@5 5l2@5
For delivery within thirty days:
Per cent.
Eligible member banks. ......... 4La
Eligible non-member banks. 80. 4ss
Ineligible bank bills. .......... 6
New-York tribune., 1918-11-08

Commercial PapeY.-Discounting is
going on moderately at per cent for
all maturities. The local demand is
small, with country banks the principal
buyers.
The Fargo forum and daily republican. [volume] (Fargo, N.D.) 1894-1957, 1918-09-27
THE CROSSROADS OF THE EAST.
"F'or East is East and West
Gs West ....-...
And never the twain shall
meet.

But they do meet--at Damascus, the
crossroads between the East and the West,
4he great city toward which the British in
Palestine are now driving with every pros,
pect of success.
The Importance Of Damascus to Turkey
can scarcely be overestilaated. Its fall
would be perhaps greater slow to Turkey
than the fall of Constantinople ITSELF, al.
though i would be of less military value
TO the Allies than the city Ivy the Sea of
Marmora.
The fall Of Damascus would mean the
end Of the Turkish Empire in Asia, for two
reasons, one industrial and the other re.
ligious and political
10 begin with, Damascus is the indust-
rial center Of all Of Turkey in Asia. 1t is
B city Of approximately 100000 inhabi-
SAINTS. OF these, about 100000 are Moham-
medans 100000 Christians; 10000 Jews
nd 10000 Kurds u is great railroad
center of Turkey. Que main road, extends
The Fargo forum and daily republican. [volume] (Fargo, N.D.) 1894-1957, 1918-09-27
THE MOST IMPORTANT NEWS"
TODAY.

What is the most Importance message
to be carried to the American people to-
day and tomorrow
The fact that the campaign for the
Fourth Liberty Loan is opening.
That is why the front page Of The Forum
is devoted to an advertisement Of the Lib
erty Loan tonight.
For less important news, readers will
have to look inside.
Never before has the first page Of The
Forum been devoted to an advertisement,
and perhaps it never will be again within
the lifetime Of the present generation of
readers. To state that the front page
couldn't be bought" for commercial ad-
vertising, might be an exaggeration, but
in effect it is true for the price placed up
on it would be so high that 1t would be
more than any business firm would be will
ing to pay. It would be fanciful figure
set in the expectation that it would be re-
fused.
But this Liberty loan message must
be driven home. On its success depends
the lives Of our sons, brothers, husbands
and dear ones. On its success depends all
that is worth living for, fighting for, dy-
ing for. That is why The Forum, tonight
has devoted it's first page to a message to
the people of Fargo Cass county, and
North Dakota. IF it reaches every reader
Of The Forum and carries conviction with
it, that is all we hope for.
We're all in this together. It's "our"
loan and "our" war and nothing but the
best we have to give tomorrow will win sue
cess.
We ought to be proud that they rated
Fargo as million dollar city and the Cass
as a $2,7OO,0O0 county. We aren holding
a "quiet sector of the lines" We've as
hard job as anybody. Let's get our
backs into it, and go through without
any fuss or boosting or circus stunts, as
we have done on every other job assigned
to us. >-4 49,.
The Fargo forum and daily republican. [volume] (Fargo, N.D.) 1894-1957, 1918-09-27
Flag Raising VIII
Be Observed Oct. I

Tuesday Of next week will be flag raising day
in the colleges throughout America at which
units of the Student Army Training corps have
been established Fargo college will observe the
Of flag raising will be under the direction of
Major M. F. Steele, commandant of the students
training corps. There will be address by DR..
E. Lee Howard, the new president Of the coll
lege and anyone interested in the ceremonies is
invited to attend A similar ceremony will be
held at~the agricultural college.
The Student Training corps have been estab-
lished in more than 400 colleges throughout the
United States and similar exercises will be held
at the same hour in dedication Of the colleges
to the training Of their students for service to
their country