davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1918-06-05
Rupee Rate Lowered

announcement was made yesterday
that the Federal Reserve Bank had
reduced the rate at which it allots ru-
pee exchange from 36 to 354 cents
per rupee. The former price had been
IN effect several months, having been
established when the rate for council
bills on India was advanced to IS
pence. 1t is asserted that the bank is
Tar behind in its allotments of ex-
change on India, applications made in
April for delivery in Nav having NOT
yet been entirely filed. The oDen
market rate for rupees has been influ-
enced by the offerings of the Reserve
sank, the outside rate having fallen
from 39la cents to about 38 cents ner
rupee. The large shipments of silver
heing made to India by the government
are being used as the basis for large
American credits there.
New-York tribune., 1918-06-05
Steel Price Fixing

Within the past few days steel men
have actively taken up the discussion
OF prices in the hope that the govern
ment will see fit to allow an increase
when the present fixed quotations ex-
pre- the last of this month. It is ex-
pected that the general committee on
IRON and steel Of the American Iro, e.
steel Institute Will soon formally
recommend to the War Industries
Board that higher range be put into
erect on July ]. One of the arguments
which will be put forth for an Increase
- the 20 per cent advance in freight
rates allowed the railroads. 1t is esti-
ma,ed that on some steel products this
S3 a ton 80
New-York tribune., 1918-06-05
2ellen Testifes
In Railroad Suit
JustIhes Boston & Maine
$4,o0o,oOO Construction
While on the Stand

SPRINGFIELD Mass. June 4. For
mer President Charles s. Mellen of the
New Haven and Boston & Maine
railroads, testifying to-day in the suit
OF the iiampdcn Railroad Corporation
against the Boston &. Maine for a
construction account of S4.000,000, as
sumod full possibility for the Bos-
Ion d Maine connection with the
iampden road, and stated further
more that the Boston & Maine di-
iectors we're fully Informed of his
actions.
Mr. Mellen reviewed his entire rail
road career, particularly the period of
his presidency OF the Boston e.
Maine. The building of the Hampden
road. he said, was designed to make
the Massachusetts, Central Boston &
Maine subsidiary, paying. proposition
Money was spent literally in preparing
ihc Hamrdcn road for through service.
Asked as TO the value of the Hampden
road without the projected lease to the
bosson & Maine. Mr.YMellen said: at
Is worth its salvage in junk"
New-York tribune., 1918-06-05

Concentration of the nations pro-
ductive activity on war work is pro-
ceeding steadily, and many revolu-
tionary changes are therefore taking
place. Trade reports tell us of re-
duced operations in this or that
direction, necessitated by diversion
of supplies to the essential indus
tries. Sweeping changes in produc-
ton and distribution are being ef-
fected every day. And yet the stock
market is not visibly affected there
by. 1t is concerned only with such
matters as taxation and war news.
That, at first thought, seems aston
lshlng, for ordinarily a readiust-
ment only fraction as severe as
that now going on might be ex-
pected to produce wild unsettlement.
amounting almost to a panic, on the
exchange. But little consideration
will disclose an explanation for this
situation. 1t is that nearly all of
the companies the shares of which
are listed on the board are engaged
IN the production or distribution of
essentials. Go over the list as care
fully as you wish, and you will find
it hard to discover a single outright
non-essential in it. Even those which
might have been classified as nom
essential few months back are now
on the favored list, because they
have diverted their plants to the
production of war goods. Take the
motor companies, for example. They
have government contracts for hun
dreds of millions of dollars, and so
are able to withstand the curtail-
ment of pleasure car production
without undue embarrassment. And
what is true Of these companies ap-
plies also to many others. 1t is an
important point to bear in mind
when considering the future of the
stock market.
New-York tribune., 1918-06-05
Eastern Capital Joins With
Weatern T farmers to Open
New Resources
Secretary Lane
Originated the Plan
Worlds Greatest Agricult-
uyal Operation to Cover
Vast Tract in Mon
tam and Wyoming

The most gigantic agricultural opera
ton ever undertaken, one that will
add millions of bushels to tn, wheat
crop Of the United States, was formally
launched yesterday with the announce
ment that the Montana Farming Cor
poration has just been formed. This
corporation, backed by the leading fl
nancial interests of America, and
managed by Thomas D. Campbell, one
of the foremost wheat growers of the
country, will develop all the land avail
able for the growing of crops on four
Indian reservations Grow, the
Black Feet, the Fort Peck, IN Montana
and the Shoshone, in yoming-with
an aggregate area approXmating 49,
100000 acres, equivalent TO strip Of
Land about eight miles wide extending
clear across the continent.
1t is estimated that the area i'm
mediately available for the cultivation
of wheat may be from 10000 to 2O0,-
coo acres, and an average yield of
fifteen bushels an acre, or from g.
100000 to 100000 bushels alto
gether, is anticipated. Much of the
land on each reservation is under ir-
rigation from works constructed by
the government, and on such land an
average yield of at least twenty bushels
an acre is expected. The amount of
tlllable land, it is understood, greatly
exceeds the Figures named, and
eventually at least 100000 acres and
perhaps many times that will be
brought under cultivation.
Government to Select Seeds
Present irrigating systems are to be
maintained by the government and the
corporation will pay fixed charge for
the use of the water. The cooperation
OF the government in securing equip
ment and labor for the corporation
has been pledged, in order to speed
up the work. 1t is understood also
that the Department Of Agriculture
VIII select the seed for planting.
While the capital of the new cor
poration is nominally placed at $1,000
600, all the money necessary for the
maximum development of the available
land will be Forthcoming. There is
hardly limit to the wealth back of
the enterprise, as is evident from the
personnel of the board Of directors
which follcws:
J. p. Morgan, Charles H. Sabn,
president of the Guaranty Trust Com
pany; James A. Stillman, chairman of
thc board of the National City Bank;
Charles D. Norton, president of
the First National Bank; Maxwell Up
son, Francis II. Ssson, vice-prcsident
of the Guaranty Trust Company;
Thomas D. Campbell, of Grand Forks,
Mont; j. S. Torrance, of San Fran
cisco, and Frederick W. Stevens, of
Ann Arbor, Mich
The officers are Thomas D. Campbell.
president; Frederick w. Stevens. vice
presidents; Theodore Rousseau, secre-
tary and treasurer, and John S. John
ston, assistant treasurer.
The prime object of the undertak
ing is to grow wheat as war meas
ure, and profit is said to be a second
airy consideration. j. P. MORGAN. a
member OF the board, said yesterday
'Of course, we are in hopes that
the enterprise will not prove losing
one. We know little or nothing here
IN the East about practical farming
on a large scale, but we believe that
Mr. Campbell will probably be able
New-York tribune., 1918-06-05
Victoria's Timber SHORTAGE

In the face of a supply of timber.
which is almost ineXhaustible. the state
of Victoria is threatened with d timber
famine unless some change is made in
the forestry policy. The principal cause
OF the decrease in the output of timber
is the fact that during the first two
years of the war large numbers of mil.
employees enlisted. Some mills have
closed down; others are working with
three fourths their former force. In
addition TO the decrease in home pro
daction there has also been falling off
IN imports, due TO the stssrtagc of shin
ping. Commerce Reports.
New-York tribune., 1918-06-05
Inspirations Production

May production of the Inspiration
consolidated Copper Company was the
heaviest in almost year. The copper
turned out smounted to 1o.25o 900
pounds, compared with 9,250,oOO pounds $
in April, s,75o,ooo pounds in March.
6,2oo,ooo in February. and 100000 in
January. The figures indicate thai
lnsplration is rapidly getting back to
the basis Of production of a year ago.
before the strike cut so severely into
New-York tribune., 1918-06-05
Cotton Acceptance Plan Progressing

The committee representing sn;rrors
Shippers and bankers that was appoint
ed 10 study the question of substituting
the use of acceptances for the present
method of paying for cotton will make
rs report at meeting in the Biltmore
hotei on Saturday morning. 1t is ex-
pec1ed tha; the committee will recon-.
mend that the proposed change take
erect as soon as possible. Those who
we're appointed at the recent conven-
tlon OF cotton growers and spinners to
ufail report on the acceptance plan
New-York tribune., 1918-06-05
,cluded for the sn;nners Randall, j,

included for the spinners, Randall N
Durfee, Fall River, Mass; Charles r
Plunkett. Adams, Mass; Charles B
Luther, Fall River, Mass; for the ship.
pers, Joseph Newburger. Memphis
Tenn; B. L. Anderson. Fort Worth,
Tex, and Charles L. Tarber. Dallas
Tex; for the bankers, Hon. Theodcrj
E Burton. president OF the Merchsuts
National Bank; John E. Bouden, New
Orleans, and E. L. Rice. Memphis, Tenn.
If the plan meets with the approval
of all the cotton interests steps will
probably be taken forthwith to file .
charter for the American Cotton Ac.
ceptance Corporation. with an author.
lied capital of S3,0O0,O00. to deal ex.
clusively in cotton acceptances.
New-York tribune., 1918-06-05
The Dollar in Foreign Exchange

Increased demand for cable transfers
devGloped dc IN the local foreign exchange
suit of the closing Of the port because
Of the German submarine activity off
the coast, which has delayed the sail
ing of many mail carrying vessels.
Rates for cable transfers to Holland
and Switzerland were substantially
higher Spanish rates were also higher.
Demand sterling rates eased off, owing
to the temporary reduction in the mail
facilities between here and London.
Exchange on London was quoted at
q francs and Is centimes in London
yesterday.
Closing rates yesterday, compared
with a week ago, follow
New-York tribune., 1918-06-05

The above rates express the cost of
foreign money in terms of the Amer-
can dollar. You buy an English lound
sterling at, say, S4.75ss. The intrinsic
parity is $4.S63s 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 Enc
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., 1918-06-05
Money and Credit

Conditions in the money market
were not much changed yesterday.
There was moderate turnover of call
loans at the Stock Exchange, where the
ruling rates were to 51a per cent.
The banks were somewhat more lib
eral yesterday in their offerings of fixed
date funds, and substantial volume
Of business was done in industrial time
loans. The rate was per cent.
Ruling rates for money yesterday,
compared with year ago. wcrc as fol-
lows:
Yesterday. Year ago
Per cent Per cent.
Call money:
On mixed collateral S 3s4
On industrial col'tl 5Ia 44
Time money (mixed collateraD:
Sixty days. .......... 6 4La@434
Ninety days........ 6 4La@4a4
Four months. 9 4Lo@43M
Five to six months. 8 4L2M4M
Commercial Paper. A moderate
amount of business was done yester-
day at 6 per cent for four to six months
maturities, with interior institutions
the largest purchasers.
Bank Acceptances.-The demand for
bank acceptances broadened somewhat
Rates yesterday were as follows:
Thirty Sixty Ninety
Spot dc days. days. days
livery: Per cent. Per cent. Fer cent.
f b lie
:. banks; Ks :, '4A@4 4a@4a 4a@4n
| 6 BILE
non mem
Der banks.4a@4Is 42s@414 4"@4A
Ineligible
bank bills5A@4s4 sI4@4s4 64@44
For delivery within thirty days:
Per cent
Eligible member banks ....... 4H
Eligible nonmember banks Asa
Ineligible bank bills .......
Silver--Bar silver in London was
4S7sd, unchanged; New York. 991sc, un-
changed; Mexican dollars. TIC. un-
changed.
Sub-Treasury--The banks lost to the
Sub-Treasury yesterday, s1,3l9,00o.
London Money Market. LONDON,
June IN Money was slightly easier to-
day, at 2@a per cent. Short bills were
New-York tribune., 1918-06-05
Central Trust to Move

The Central Union Trust Compsfs
the new institution resulting from "
merger of the Union Trust Compsu
with the Central Trust Company, =
poets to occupy its new quarters Az
Broadway some time during the moss. y.
of August. Alterations are still unoS
way on the upper floor of the bros
way building as a result of which =
Union Trust Company is at rresen..
temporary Offices on the ground nss ~
The actual consolidation of the NJ ~
institutions has been deferred until "a
necessary changes have been compses-
New-York tribune., 1918-06-05
Western Sentiment Favorable

Ex-senator Burton. who was In "
cago last week. sounding Western ~
ers on the proposed change in MAJ
settlements for cotton, came back 3
timistic over the outlook. He said ~
terday that the sentiment there y
favorable. Chicago bankers said ~
after the current grain crop hao
financed, they saw no reason WY
should not participate in any pls
would help the cotton industxys
New-York tribune., 1918-06-05

Bank Cl"arings.~-Thc days bank clear
ings at New York and other cities were:
Exchanges. Balances.
New York $685. 1926 S58,O77, ,632
Boston .... 47,686,313 .4,953,A0o
Philadelphia . 66,eo3,799 12,7o4,73O
New-York tribune., 1918-06-05

Market Barometcrs
Stock Exchange Transactions
CtocLa

Stocks
Rail. Other All
roads stocks. stocks
Yesterday -. 10000 623 100 $4,000
Day before .. 10000 5997OO $4,000
Week ago.. 163,7OO 10000 961 900
Year ago.. Holiday Holiday Holiday
January I to date:
1913. a,251, 100 $685. 200 63,302, 800
1917... 9,603, 100 75,233,50O 84,836,6o0
1916. 1,392,2Oo e3,3e3,5oo 74,785, 200
Day Year
Yesterday. before. before.
U. S. gov S. i 900 $3,99o,oo0 Holiday
Railroads. $4,000 $4,000 Holiday
Others . 1,823,00O 100000 Holiday
All bonds. 100000 $4,000 Holiday
January I TO date:
U. S. gov'nts S395, ,941, 900 $261 900
Railroads .... 75.380,00O 51,538,00O
Others. ... 157,811,O0 312O75,00o
All bonds ... 624,451 900 465, $4,000
New-York tribune., 1918-06-05

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., 1918-06-05

Those in the South who are re-
sponsible for the pending investiga-
tion of the Cotton Exchange will no
doubt be surprised to find that the
condition of the crop on May 25 was
higher than on any corresponding
date in the last ten years. The dis
interested observer is inclined to be-
lieve that it was the splendid pros
pect for the crop, combined with
large acreage and the shortage of
shipping facilities, that was respon-
sible for the recent break in prices.
The "New York gamblers" can
hardly be held responsible for the
good weather that has prevailed.
New-York tribune., 1918-06-05

German submarine activity in
these waters is responsible for a
change in the character of the deal
ings in foreign exchange in this
market. The closing of the port by
Federal authority has temporarily
crippled the mail service between
here and Europe, with the result
that it is uncertain when remit
tances sent by mail will reach the
other side. This has made it neces-
sary for many interests here with
payments to make abroad to trans
fer the funds by cable. That has
reduced the demand for checks and
increased the inquiry for cable
transfers.
New-York tribune., 1918-06-05

discounted at 31a per cent; three
months bills at GIG per cent.
Gold premiums at Lisbon 1870.
New-York tribune., 1918-06-05

N. Y. n. II. & H.R. Co.. s43,se4,eee
New York Central lines 2S.5oe,eM
Pennsylvania Railroad Co. 22.0oee.
b. E. o. Railroad Co.., 9.ooe,sN |
Illinois Central r. R. Co. 5.0oaeW.
c., NJ. & st. P. Railroad Co. 5,0oo.M!
G.. r. l. & P. R. R. Co... 3,ooo,M
Erie Railroad Co 3.OoepH
d. & R. g. Railroad Co... 1.5oe,e
Wabash Railroad Co... 1,seaee
N mn. & st. l.. r. R. Co... 75oM
G., /. & l.. Railroad Co.. 50e,M
b. K. & p. Railroad Co... 4oeM
Ann Arbor Railroad Co... 2ee.e.
bet, Tol. & Ironton RR.Co. 2eee
Total s124,sll~
New-York tribune., 1918-06-05

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., 1918-06-05
New York

French Credit Paid. Bonbright e.
Company, Inc, announced yesterday
that funds had been received from the
French banks participating in the
S15,o00.oOO French export credit of
March II, 1917, for the payment Of the
third and final s5,oo0.000 instalment
due on Friday. This also completes the
aegregating 100000. 600 which were ''ys ar,
ranged by the Bonbrght firm for
Schneider & Company, the big French
munition manufacturers, in order to
provide exchange facilities for the paw
ment of purchases of war materials in
this country.
Marine Rates Unchanged Marine
insurance brokers and underwriters
SAID there was no change in the situa.
ton yesterday. Little business is
being done, owing to the fact that sail
lngs had been stopped owing to the
closing Of the port because of the Ger
man submarine menace off the coast
Rates remained purely nominal, at /
10 per cent for coastwise shipping.
New-York tribune., 1918-06-05
Roads Which Government Helped

Individual railroad companies
which the government made advances
in May, and the amounts, were as fol-
lows:
Pennsylvania Railroad Co. .s15,oOo,M
Illinois Central Railroad Co. 5.ooe.e@e
Chi. Mil. e. S. Paul R. r. Co. 5,0o0.om
Baltimore & Ohio. 4.Ooe.oM
Erie Railroad Co... 3,Ooo,eM
Denver e. Rio Grande ..... l,soo,eH
Ann Arbor Railroad CO.. :. 2oo,oW
Total ................. sss,7os,sss
Total government loans and ~
vances to all roads from January v
June 1 follow:
New-York tribune., 1918-06-05
News Digest
Foreign

London Exchange Active.-LONDON
June 4.-Money was plentiful to-day
and discounts were easy The stock
market was in good disposition Gilt
edged securities were fully active, but
in other branches business was re-
stricted, due mainly to the uncertain
positions of jobbers regarding mill
tary requirements. Foreign oils were
a feature. There was rise in shells,
owing to talk of bonus being de-
clared shortly.
Paris Bourse.-PARIS, June d
Trading was quiet on The Boursc to-
day. Three per cent rentes were quoted
at 90 francs for cash; 5 per cent loan
at 81 francs 95 ccntimes
The Hickman courier. [volume] (Hickman, Ky.) 1859-current, 1918-04-18
LEMONS NHITEN AND
BEAUTIFN THE SKIN.
Make this beauty lotion cheaply for
your face. meek arm and hand

Al the cost ~ small jar 10 ordinary
cold cream ONE cam prepare q fun
quarter pint 81 tlc MOST woud .rfu
lcmou skim ~ofteuer aud complexion
heaufifer hy squeezing the iuiee of
ruo fresh lcmou~ into a bottle contain
ing three ounces OF orchard white.
Care should be taken to strain THE
iuirc through fine cloth ~o ODD lennon
pulp gets iu. them This lotion win Keep
fresh Tor months Every woman knows
rhat lemon juice IS used to bleach aud
remove ,uch hlcmishes as frcckies. sai-
lnuuess and tam and e. ana ideal skin
~offrucr. whiteuer and beautiaer
Just Try it, Get THREE ounces of ore
chard white az any drug store and two
lemons from fhe grover and make up
n quarter pint ~ this sweetiy fragrant
lennon lotion and massage 90 daily into
thc face. neck. arms and hands. 10 IS
marvellous 90 smoother rough. red
hands. adE.
The Hickman courier. [volume] (Hickman, Ky.) 1859-current, 1918-04-18

Miss jamie fIrnr ha- returned
FROM weeks v.-lr m Mayu,Id
You win huI ONE of The most come
piete drug stocks in Western Ken
tucky at THE HicSmau DRUG GO.
r.. T. Jones aud family moved to
Maydcid saturday. TIE has heen
running thc refrcshmcut stand west of
the negro lodge laI
The VOTERS iu LIVINGSTON county vot-
ga on April q by = decisive majority
authorizing the nscul court Co levy "a
.ucent road tax for the next teu years
o. build zap the roads
urys 81 Wisconsin made substantial
ga ius in territory in rhe election held
April =. especially iu the northern part
OF The state TIE results place 5000
more persons in dry territory.
The Hickman courier. [volume] (Hickman, Ky.) 1859-current, 1918-04-18
SMART SET MINSTREIs.

Best colored aggrega fiou that ever
played Fl PuSo Morning News.
The Smart Set Miustrels have
come and gone puhii- sentiment. best
eolored show ever iu our eity.-Dallas
Morning News.
company ~ colorcd men and wo-
men delighted tent FUN of Butte a.
musenent seekers last ui-ht-Butte
Miner.
Indianapolis was scarcely expecting
ihe high class performance given hy
The Smart SCI MINISTRIES star.
The Hickman courier. [volume] (Hickman, Ky.) 1859-current, 1918-04-18

The infant child OF Mr.. ami Mrs
Fred Gammous. residing several miles
from here Ca the Wheeler vicinity died
40 their home Monday. Iuterment was
was had Tuesday
Joe Rinford has purchased two lots
ou the hin near the blur where :. T.
Do,ds' houses burned two years aeo.
and viii erect residence there In the
near future.
Brautly Turpin and wife went "a
Nashville sunday FOR few days. and
% hear CALI Curci sing there GA Mon
day evening
The Hickman courier. [volume] (Hickman, Ky.) 1859-current, 1918-04-18

For Sale Six tons Timothy Hay ;
one John Deere Corn Planter in good
order.-J. T. Maddox. route 3. 81
For Rent: Two rooms and bath for
night housekeeping Caur Cumb phone
2IT. re
Mrs. r NJ Isier returned lest week
from visit with her sister. Mrs.
Roger. in Paducah-
For Sale: Dalton Adding Machine.
IN good condition Turk Wilson Hale
Co go
Pop Corn Wanted: sfpst he shelled
ana well matured. Highest cash price.
-'berry's Restaurant tic
The Hickman courier. [volume] (Hickman, Ky.) 1859-current, 1918-04-18
J. II rIcKErf secy

Col a. T. Walker and Capt T. Nc
Makin. who went CD Louisville We'd
neSiay of last week. went from there
to Cincinnati and Huntingdon West
Va ou husiue-~
I viii have az my home saturday a
few dozen ferns Tor Sale.-Miss
Frankye Reid
Mr.. Furuis. Of Louisville. is the
guest OF his daughter Mrs W r. Rem
nenberg
The Hickman courier. [volume] (Hickman, Ky.) 1859-current, 1918-04-18
Drives Out Malaria. Builds Up System

The Ola Standard general strengthening tonic.
gHoFt-S lAsIE.I-E-S chill TONIC. drives cut
Malaria. euTich res the 1C arld hi ID ~, he s,s-
ts1A- true tonic. Fer edults and children. &C
The Hickman courier. [volume] (Hickman, Ky.) 1859-current, 1918-04-18
MOTHER GAVE
THIS DELICATE
CHILD VIN0L
And He Got Well and Strong.
That's True

Monac,. Pa.-"My little boy. who
is the youngest Of three. was weak.
nervous and tired all the time. so he
was most unfit az school. and moth
ing seemed 70 help him / learned
of vinol and gave Il 20 him IL has
restored his health and strength and
he has gained in weight Mrs.
Frederick Sommers. Monaco. Pa.
Vinol Is a constitutional cod liver
and iron remedy Tor delicate. weak.
ailing children Formula on every
bottle. so you know whas you are Civ
ng them Children love IL.
Helm q Ellisoa. DrugEtsta
The Hickman courier. [volume] (Hickman, Ky.) 1859-current, 1918-04-18

Helm q Ellison. Hickman. Ky.