davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1918-08-06
Corporate Returns

Eastern Power and Light Corpora
tion.-Report of operations for the
year ended December 81, 1917, dis
closes gross earnings amounting to
S4,495,593, which compare with $685.
700 for the preceding year. Net earn
ings totalled s1,698,741, against
S1,722,038 for the previous year. Total
income was S1,730,932, compared with
$l,I43,315 for the year before. After
deductions Of $1,273,326, net income
for the year was $457 606, which COM
pares with $543,537 for 1915. Surplus
was $413,606.
New York, Ontario & Western Rail-
road.-The company reports gross
earnings for June Of s1,oso. .so7.
against $804,71s for the corresponding
month of last year. Deficit after taxes
totalled $120,820, against a surplus
tor June of the year before of $685.
4o4. Deficit after charges amounted to
S244,2 ,220, compared with a surplus of
$129,509 for the same month of the
preceding year. Gross earnings for
the first six months of 1918 were
S4,776,O97, which compares with s4,-
l09,637 for the six months ended June
80, 1917. Net after taxes totalled
Sl29,9So, against s862,o2s for the same
months of the year previous. Deficit
oAlCA CudlScS WAS SOIO,OOO,
Galveston-Houston Electric Com
pany.-Gross earnings for the twelve
months ended June 80 last amounted
TO $2,385,3b4, against $1,959,S71 for
the preceding twelve months Net
earnings totalled $o29,413, an increase
OF $165,71S over the same months of
the year before. Surplus after charges
was 1855, ,123, compared with s231.4e6
tor the spending period of the
previous year. an increase Of s133.s57
III Paso Electric Company
twelve months gross earnings were
S1,272,O65, compared with S1,216.517
for the twelve months ended June 30
1917, an increase of $55,548 Net earn
lngs totalled $439,396, compared with
S442,O66 for the same months of the
preceding year. Surplus amounted to
S362,251, a decrease of $19,367 from
the corresponding period of the year
before.
Puget Sound Traction, Light and
Power.-Statement Of the company
and subsidiaries for May shows gross
earnings of s919,764, which compares
with S762,663 for the same month of
last year. Net after taxes was s32o :
os6, compared with s3O1.724 for tbe
corresponding period of the wear he
fore. Surplus after charges totalled
S121,916, an increase of s11.53s
Twelve months gross earnings we're
Sl0,329,7 ,754, against ss,6s9,134 for the
preceding twelve months, an increase
of s1.64o.620. Net earnings were
S3,s93,395, which compares with ss.-
39S,ob4 for the corresponding months
Of the previous year. Surplus amount
ed to $1,465,231.
American Power and Light Com
pany.-Gross earnings for the com
pany and subsidiary companies for
June amounted to sl.o2s,2o5, com
pared with $860,265 for the same
month of the preceding wear. an ;n9
crease Of $1es,e4o. Net after taxes
was $416,159. against 1886. .40s for
June OF last year. Gross earnings for
the twelve months ended June 80 TO-
tailed $12,25s,293, which compares
win $lo's42;6S2 for the preceding
twelve months. Net earnings were
$4,995,S26. "eA0
New-York tribune., 1918-08-06
Form a Trade Body

Business men in Buenos Ayres repre-
senting nations at war with the Cen
tral Powers have organized an Allied
Chamber Of Commerce. which will be
governed by three delegates from each
Of the British. French, Italian and Bel
gian Chambers of Commerce and three
delegates from the American CONNER
cial Club. Headquarters have been
opened in tho centre of Bucnos Ayres
with a paid secretary in charge. From
this headquarters information Of inter
est to the various organizations con-
stituting the Allied chamber will be
forwarded. The object Of the Allied
chamber is to unity and promote the
trade interests Of the countries fighting
Germany.
New-York tribune., 1918-08-06
Crop Damage Fear
Sends Corn Up in
Spectacular ashton
Market Closes Near Top at
45-8 to 6 3-8 Cent
Net Advances

Corn prices mounted in spectacular
fashion yesterday in the New York
Produce Exchange as a result of re-
ports that high temperatures were con-
tinuing throughout the West and
Southwest, with disastrous effects on
the nascent crop. The therm mometer
registered 115 degrees in Omaha. and
in Iowa and Illinois also the damage to
the crop from the heat was reported to
be considerable.
Late months reacted most violently
to the news, September selling UP to
5s4 and October 63sc. The market
closed near the top at ass N6$sc net
advance on all positions. Although
ing prices to make profits, the tendency
remained steadily upward. The senti-
ment of the traders reflected their be-
lief that the heat and the hot winds in
Kansas and elsewhere had been genu-
inely destructive.
On the other hand, some corn men
maintained that the big advance early
in the day fully discounted all the
damage that has yet appeared, and that
the technical position of the market
had been weakened by the incessant
dO' dIlCc throughput Liic SESSION.. MOTE
over, in some quarters it was pointed
out that the belt which was affected by
the heat had been having sufficient
moisture and that as the crop was from
two to four weeks early the only dam
age would be in the way of premature
ripening here and there.
Estimates on the government report
to be issued Thursday suggested 79
as the possible condition figure, and
that the total crop would be 3,ooo,-
100000 bushels. In the meantime the
movement continues light. being 1885,
600 bushels for the day, or about 5OO,-
600 bushels less than a year ago. The
visible supply reached 9,46e,ooo bush
els, showing decrease of $4,000
bushels for the week.
Advices from Omaha stated that the
Union Pacific and Burlington compa-
nies were distributing corn experts
throughout that region to watch the
condition of corn, which is said to be
burning hourly. Crop observers say
that rain is imperative in Eastern Ne
braska, which is in the throes of the
worst heat wave ever known.
The prices quoted we're:
Yesterdays Previous Year
New York: close. close. ago.
Corn, No. 3 yellow $1.s724 $1,000 $2.44
Chicago:
August ........... 1874 1854
September ........ 1924 1875
New-York tribune., 1918-08-06

The resolution passed by the Fed
eral Reserve Bank, calling on men,
Der institutions to conserve credit,
specifically urges the gradual re-
duction of loans now carried for
nonproductive or nondistributive
purposes, and of loans "for purposes
not clearly necessary for the pro-
secution of the war or the health
and necessary comfort of the peo-
ple." That is of the utmost i'm
portance to Wall Street, for it
means that if the banks follow the
course they are asked to adopt there
can be no expansion of loans for
purchasing or carrying stocks, such
loans having already been classified
by the Federal Reserve Board as
"nonessential." And it follows that
without expansion of loans there
can be no important expansion of
stock market activity. The outlook,
therefore, is for a dull or, at best,
moderately active market for an in
definite period-until the banks are
again in a position to lend freely for
speculative purposes. What the
effect will be on prices remains to
be seen.
New-York tribune., 1918-08-06
Dividends
Regular Declarations

Crescent Pipe Line Quarterly
dividend of rs cents per share. payable Sep.
tember IA to stockholders Of record August
g.
international Nickel Company.-QuarterH
dividend of 81 per share on the common
stock. payable September 70 stockholders Of
record August 15
May Department Stores Quarterly div-
dend Of ! i per cent on the common stock;
payable August 80 10 stockholders of record
August Is.
Pabst Brewing Company-Q Quarterly diy,-
dend of u per cens the preferred STOCK
payable September II TO stockholders Of rec
ord September g.
Lake of Woods Milling Company.-ouas-
terly dividends of 2l2 per cent on the CON-
mon and 3. per cent on the preferred stceks
payable September "a
General Development Company. -
Dividend of rs cents per share, pay,
able September TO stockholders OF
record August Is.
New-York tribune., 1918-08-06
Wealth Markets and Commerce @
Relevant Comment
Copper Production Estimates

During the month of July American
producers turned out approximately
2o5, 900 pounds of refined copper.
This, compared with earlier estimates
of 210,o0O,00O pounds, in June. de-
crease of 100000, and 228,000,O0O
pod pounds nds in July 1917. decrease of 2s.-
100000 pounds. Production during the
remaining FIVE months of this year at
the same average rate as for the first
seven months would result in total
output for 1918 of 2,443, ,o0O,0 900 pounds.
This would compare with 2,401, 100000
pounds produced in 1917.
New-York tribune., 1918-08-06
Elections

F. E. Bridges, cashier of the National
Bank of Liberty, N. Y, has been
elected president of that institution.
Clarence L. Rowland. formerly a
member of the firm Of w. Herbert e.
20, has become associated with the
New York Stock Exchange flrm of Mar
koe, Morgan & Co..
Benjamin G. Smith, formerly auditor
Of the Guaranty Trust Company of
New York, has been appointed assist
ant treasurer at the Paris Office of that
institution.
New-York tribune., 1918-08-06
The Dollar in Foreign Exchange

The foreign exchange market was
again exceedingly dull yesterday, and
rates showed scarcely any fuctuation.
Pesetas were unchanged, and bankers
held the view that they would remain
steady until a definite announcement
is made of the nature of the efforts
of the government to stabilize rates on
Spain.
Closing rates yesterday, compared
with week ago, follow:
Quoted dollars to the pount.)
New-York tribune., 1918-08-06
American Tel. Sells Low

According to Boston advices received
in Wall Street yesterday increased in
vestment demand for the S5O,000,0 900
issue of American Telephone and Tele-
graph seven-year convertible per cent
bonds has reduced the unsold balance
to S16,000,000. The stock of the COM
pany sold yesterday at the lowest price
since the panic of 1907. Sales were
made on the exchange at eO5s. with a
later recovery to 92ss
New-York tribune., 1918-08-06
Madras Peanuts for u. s.

In April last the first large consgn-
ment of peanuts for the United States.
of which the Madras Consulate has rec
ord, was shipped from that port in In
dia. 1t consisted of 1924 tons of Coro-
mandel shellcd peanuts, valued at
S461, 200. The total consignment
amounted to 9o,S5o bags of 176 pounds
each.
New-York tribune., 1918-08-06
Market for Hollow Ware

Stocks of silver plated hollow ware
are very low in the Oruro district of
bolivia, and it is stated that there is
market there for American products
OF this kind, if manufacturers are in a
position to deliver goods.
New-York tribune., 1918-08-06
elephone
Hanover o514

Reserve Bank are In fair demand.
Rates were unchanged yesterday, as
follows:
Thirty Sixty Ninety
Spot de- days. days. Gays.
livery: Per cent. Per cent. Per cent.
E! gible
m m r
banks. .4h@4 4h@4N 4h@4H
E ! igibla
non-mem-
ber banks.4I4@4Is 43k@4h 43a@4h
el igiblc
bank bills.5A@424 514@434 5A@4a4
For delivery within thirty days:
Per cent.
Eligible member banks ........ 4N
Eligible non-member banks..... ~
Ineligible bank bills.
New-York tribune., 1918-08-06

The above rates express the cost Of
foreign money in terms Of the Ameri-
can dollar. You buy an English pound
sterling at. say, $4.7535. The intrinsic
parity is $486h per pound. Thus you
say either that pounds are at a dis
which is owing to the fact that in Eng.
land the demand for dollars with which
to settle accounts in this country 10
greater than the demand in this coun-
try for pounds with which to settle &C.
counts in England.
New-York tribune., 1918-08-06
sUY-sELL

MIpWEST REFINING CO.
MERRITT OIL cORP0KATloN n
XIX BASIN PETROLEUM CO.
INTERNATIONAL PETROLEUM
IMPERIAL OIL CO., LTD.
LoBITO8 olLFIELDS, LTD.
8APULPA REFINING CO.
HOUSTON OIL CO.
PORT LoBo8 PETROLEUM
NATIONAL FUEL QA0 CO.
NORTHWEST OIL CO.
Co8DEN AND CO.
DoaD0 Z STUCK
CARL RLH.PFoRZNEIMEn&c0
DealeEs IN stnnAnrd on BecuzfAaes
Fhnso 49, i-h-4-& ArsaA. 4x 0rnaA H.. n. Z
New-York tribune., 1918-08-06
DIVIDEND NOTICES
The Baltimore & Ohio Railroad Ca

OFFICE OF THE SECRETAki.v
Baltimore. Md, July 81. iss,..r.a is.s
The Board OF Directors this day CO. CO. fce
the six months ending Juno so. lsits; s,.. .
dividend OF Two % Per Cent. on ne ser ser.
ferred Stock OF the COMPANY. ns..,s q
temher 3. 1918. to tho sfeckhoiossrr ssrruSt
record at the close Of business Oh ~
10. 1915
Tho transfer books will not close. -
c. w. WOOLFORDs SecSs
New-York tribune., 1918-08-06
FINANCIAL MEETINGS
CLAUDE NJ SMITH 4 COMPANY, NC
AQTICE TO s.EOf,Is IQI lEEE.

NVIILF 10 ssIUt kHUIIEnr. :,
a special meeting OF the stockholdes :. :.
Claude NJ. Smith & Company Inc. VII :, :,
held on the 14th day Of August 1913. -
~ 80 o'clock a. NJ. a the Office OF su,jt sgt
corporation No. I49 Broadway, in the ~
and County OF New York. for the purp....
OF voting upon the proposition TO ineIeAs) 4
Us capital stock from $4,000. oonsissahs. as.es
ooo shares OF the par value of *lo' "a
to Slbo. 900. TO consist Of 1900 shares OK 'S'
par value OF 500 each -,
CLAUDE NJ SMITH. President
Dated, July .s 1915
New-York tribune., 1918-08-06

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., 1918-08-06
Money and Credit

Conditions in the local money mar
ket were unchanged at the beginning
OF tho new week. At the Stock Ex-
change yesterday the ruling rates were
ga to per cent for call money, the
same as on Friday.
Very little new money is being Of
fered in the market for fixed date
funds. A further reduction in surplus
reserves Of the banks had made It i'm
possible for the banks to increase their
offerings for the time being. There is
fair demand. with borrowers bidding
6 per cent FOR loans Of all maturities
on both classes Of collateral.
Ruling rates for money yesterday.
compared with year ago, were as
follows:
Yesterday. Year ago.
Per cent. Per cent.
Call money:
On mixed collateral6Ka aN
On industrial col't'r6 a
Time money (mixed collateraD:
Sixty days.. 8 4N
Ninety days...... 8 4La@4M
-Four months. 6 4L2@4M
Five to six months 8 4M65ll
Commercial Paper.-Quiet conditions
prevailed In the market for commercial
paper. with rates unchanged at g. per
cent
Bank Acceptanccs.-Bills that arc
eligible for rsdiscount at the Federal
New-York tribune., 1918-08-06
News Digest


Foreign
London Markets Closed.-LONDON
Aug. 5.-To day is q holiday on the
London and Liverpool exchanges.
Paris Market Active-PARIS, Aug &.
Trading was active on the Bourse to-
day. Three per cent rcntes sold for 81
francs 85 centimes for cash. Exchange
on London was 27 francs 1914 centimes.
Five per cent loan brought 81 francs 55
centimes.
New-York tribune., 1918-08-06

Sub-Treasury.-The banks gained
$4,000 from the Sub-Treasury yester-
day.
Silver.-Bar silver in London was
48}@, unchanged; New York, 999sc C.,
unchanged; Mexican dollars, TIC, un-
changed.
New-York tribune., 1918-08-06
Coal Will Be Scarcer

Observers of the coal situation are
impressed with the prospects of a
dearth of coal for non-essential indus
tries. In discussing this point the cur
rent number of "The Black Diamond"
says: at is not possible at this time to
say how much of the coal production is
required to keep the war activities 60
ing. There is, however, an interesting
approximation in one district. The
Eastern munitions triangle is said to
stand in need of ITO, 100000 tons of
coal year to keep the war work going.
Very heavy calls have been made on
other sections, and if the railroad de-
mand is added to the government de-
mand the amount of coal which remains
for the normal purpose of the country
is relatively small. The extent to
which the diversion Of coal to govern
ment channels is going to influence the
rest Of the country it is impossible to
say now. One thing is becoming more
and more apparent, however, each week
and that is that if our own war de-
mand is satisfied. and if our Allies are
supplied with coal, there isn't going to
be a great deal left for general COM
mercial purposes. especially for indus
tries of the so-called non-essential
sort"
New-York tribune., 1918-08-06

Reserve Bank rate. 1873 1878
Below is given tho 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., 1918-08-06

No matter how we'll founded the
complaints of shippers as to bad
railroad service may be, there is at
least one place in which they will
look in vain for sympathy. That is
in railroad circles. The sad plight
in which shippers now find them
selves, as pictured in the arraign-
ment of the railroad administration
by a prominent Chicago traffic man,
published yesterday, is due more to
their own short-sightedness than to
anything else. For years the big
shippers bitterly opposed every
effort the railroads made to secure
the higher rates that were claimed
to be necessary to keep the tran
sportation system in efficient con-
dition. In the main they were sue
cessful and, as result of this policy
Of obstruction, the carriers were un-
able to meet the demands upon them,
and government intervention fol-
lowed. Now the shippers are pay
ing rates far higher than any that
the carriers had ever thought Of
asking for, and getting inferior
service in the bargain.
New-York tribune., 1918-08-06
Mining Dividend Totals Decrease

A striking falling off in the dividends
paid out by American mining compa-
MES is shown in the statistics for last
month. The disbursements to stock
olders in July, 1918, by thirty mining
and metallurgical companies making
public reports amounted to $5,765,456,
compared with $16,531, PAP distributed d
by forty-six companies in July. 1917,
according to the Engineering and
ever, $5,026,450 were special Red Cross
dividends. SO that the regular payments
were S11,504,792. Canadian, Mexican
and Central American companies paid
SS64,342, against $1,055,S07 year ago.
The totals for the first seven months
of the year are: Mining and metallur-
gical companies, $95,655, ,O43; holding
companies, $1,o76,866; Canadian, Cen
tral American, South American and
Mexican companies, $9,755,453.
New-York tribune., 1918-08-06
Expect Contract Pact Soon

1t is expected now that an agree
ment on the form of the contract be-
tween the railroads and the govern
ment will be reached at least by the
latter part of this month, possibly be-
fore. The directors of the Atchison
Topeka and Santa Fe Railroad have
therefore, called a special meeting OF
the stockholders to ratify the contract
on September IL. The Delaware, Lack
awanna and Western Railroad is call
ing its ratification meeting of stock.
holders for August %
New-York tribune., 1918-08-06

Much can be said in favor Of the
proposed tax Of per cent on all
purchases. It is simple and would
be collected to the last penny. It
would be the most effective method
Of reaching that section of the pop
ulation which escapes all other
taxes, and to the assertion that it is
inequitable because the rich would
pay no more than the poor, there is
good enough answer-the rich are
reached through the income taxes
and are pretty sure, in any event, to
contribute relatively more to the
governments revenues than those
with moderate incomes. Moreover,
the amount that would be raised
through such a tax would be enor-
nous. Members Of the House Ways
and Means Committee, who have the
plan under consideration, roughly
estimate the yield at 100000, 900
annually. That is probably an un-
derestimate, such tax might easily
yield two or three times two billions.
Professor Irving Fisher, in his
Equation of Exchange" for 1916,
calculated volume Of trade for that
year at s762,ooo,oo0,O00, and it
must be remembered that exchanges
this year are being effected at a
much higher level Of prices, so that
the money value of the turnover in
1918 must be much larger than that
Of 1916. Much Of this turnover
would not be subjected to the pro-
posed tax, but supposing that the
impost applied to only half the total
the yield would approximate four
billions.
New-York tribune., 1918-08-06

Dpalrs In etnnAnrd on eecuzfA3es
Fnuuo 49, i-A-sA ArsA. r. 0rnaA 81. n. X.
The Mena weekly star., 1918-09-19
Polk County Soil Productive.

Further proof that Polk county soil is productive was furnished by Claud Clark, who with his son Rudolph, was in Mena Saturday. When Clark came here two years ago some of the "Glooms" told him the land he had bought wasn't worth more than $5 an acre. Just to prove that it was worth more Clark planted one-third acre in tomatoes. He states he has sold enough tomatoes locally at not less than cents pound to produce a re- turn of S59.32 from the piece, or at the rate of $177.96 per acre. Besides what was sold the Clark family used many, and still have a good crop of green tomatoes on the vines. The Clarks live on what is locally known as the P. J. McClinchy place near Dal- las
The Mena weekly star., 1918-09-19
SLACkERS PUT UP
 FLAG OF TRUCE
Hub and Jim YoungbIood Capitulated to Sheriff Finger-Part of Band to Resist Draft-Taken to
 Camp Pike.

Hub and Jim Youngblood. two Polk county registrants, reported as delin- quent by the local exemption board, were brought to Mena this morning by Tom J Wilbanks and Dr. H. R. Getz, having previously agreed with Sheriff H W. Finger to surrender on condition that he take them to Camp Pike, which he did Saturday after noon
 The Youngbloods are the sons of ". II. Youngblood, arrested Thursday on the charge of conspiracy to resist the draft law, and are said to be a part of band of W. c. us or I. ". W's located west of Grannis, which is more closely organized and even more diabolical than anything that has heretofore been inearthed in Polk county.
 For over three weeks Sheriff Finger and a posse of from 12 to If have been on the hunt, but it was not until w. H. Youngblood and a son, George, had been arrested, that Sher- if Finger found the two "slackers" were ready to put up the flag of truce. Among the special officers who have been with Sheriff Finger in this raid are J. s. Henson, George S. Pike, J. w. Tweedy, E. R. Jackson, Dr. H. R. Getz of Mena; w E. Hungate, Tom J. Wilbanks and c. w. Tolle of Gran his; John and Jim Ross of Gillham, and John Shorter of Bog Springs.
The Mena weekly star., 1918-09-19
Ranid Increase in Age.

One hour in the county jail in- creased the age of William Fuller just exactly ten years. Fuller, who lives west of Grannis, was brought to Mena by Deputy Sheriff W. F. Hun gate Sunday, charged with being a stacker by failing to register for the selective draft. When arrested Fuller asserted he was only r years of age. It required only brief in- carceration behind the bars for him to revise his figures and admit he was 27 On his agreement to enter serv- ice the charge against Fuller was dis missed and he was taken to Camp Pike Monday afternoon by Special Deputy E. R. Jackson