davidaulloa/AmericanStories huggingface dataset:
Turner County herald. (Hurley, Dakota [S.D.]) 1883-19??, 1918-02-07

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Turner County herald. (Hurley, Dakota [S.D.]) 1883-19??, 1918-02-07
Washington

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sfaslrssy esaesat aa Sunday. brit ha ~.
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Turner County herald. (Hurley, Dakota [S.D.]) 1883-19??, 1918-02-07

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Turner County herald. (Hurley, Dakota [S.D.]) 1883-19??, 1918-02-07

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aesAsiy sasiHW ct thp sssssassean ser
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Turner County herald. (Hurley, Dakota [S.D.]) 1883-19??, 1918-02-07


Farmers Equity exchange. at Eagle
Butte. and also president OF the Eagle
Butte Farm Loan association, as the
result OF visit made to President
Hogan. OF the federal land bank. at
Omaha, Neh- reports that an import.
ant concession has been made rela.
tive to loans on homesteads on which
final proof has not been made. Mr.
Aoherz states that he was assured by
President Hogan that in future home.
sfsa1ers could secure from the federal
land bank loans sufficient to cover
the making OF final proofs. and that
upon receipt from the United States
district land office of a recent show.
tag thai this amount had been paid.
the balance OF the approved loan
would then be made by the federal
land bank on the land.
One hundred and ten business men
OF Mitchell have signed pledges to give
part OF their time next summer to
aiding the farmers of Dawson county
IN handling their crops.
Rev. n. G. Atrops. pastor Of i Ger.
man Lutheran church near Waite, this
state, and Rev. Carl Graf, pastcr OF
= Methodist church at that place. were
arrested and taken before the Unit
ed States court commissioners at Wat.
.ertown on charges Of violation Of the.
espionage act, in the case OF the for
mer, and pro-German activities on the
part OF the latter.
New-York tribune., 1918-06-25
War Enhances Trade
Of Pacific Ports

War conditions have reversed the di-
rection of important trade routes. The
change has been from the westward to
the eastward course. The operations
of the German submarine have been an
important causal factor in inducing the
shippers of China, Japan, the Philip
pines, Australia, the Dutch East Indies,
Singapore and India to send merchan-
disc to the United States via the Pa
citic ports instead of the Atlantic.
Routes through the Mediterranean and
IN some cases around the southern cane
OF Africa have in many instances been
abandoned for the calmer course across
the Pacific Ocean.
AS result the value of the imnorts
entering through the Pacific ports in
the nine months preceding March. 1918
was double that of the nine months
preceding March, 1917, according to a
compilation just completed by the Ma
tional City Bank. The imports coming
through the Pacific ports in the period
ending March, 1918, amounted to s466.-
OOo, 600, compared with some S233,0OO'-
900 in the corresponding period ending
March, 1917, and $177,0oO, 900 in the
nine-month period ending March. 1915
Meantime the Atlantic ports recorded
q decrease. Imports coming through
the Atlantic ports in the period ending
IN March. 1918. reached $l,l70, 900, 900,
against $l.234 100000 in the months
ending March. 1917. Those entering
through New York reached $86S, ,00O, 900
an,t IL the period ending March. 1918, and
s;sSs'ooo'ooo IN the period ending March,
New-York tribune., 1918-06-25

With the news of the sweeping
Italian victory at the Piave as the
outstanding influence, the stock mar
ket yesterday continued the quiet ad-
vance which has been proceeding for
nearly a fortnight. There were mod
crate gains almost throughout the
list, but the action of Steel common
was the conspicuous feature Of
movement that is becoming quite i'm
pressive. In spite of the fact that
some brokers reported rather heavy
profit taking in this issue, it reacted
only fractionally, after selling at
109ss, at which point it was less
than AZ points below the high point
Of the year. The important fact is,
however, that the market was al
most wholly professional, just as it
has been at all times since the cul-
mination of the sensational advance
last month. The public still holds
aloof. In fact, outside participation
is much smaller than could reason
ably have been expected after some
days of steadily mounting prices.
Ordinarily the public finds advanc-
ing prices an irresistible lure. This
time it is displaying unusual, almost
uncanny, wisdom, and refuses to in
dulge its speculative appetite. It~is.
unfortunately, hardly likely that the
rise can go much further without
arousing general interest and at
tracing a considerable following.
New-York tribune., 1918-06-25
$25,000,000 Sent
To London for
Temporary Use
Transfer Of N. Y. Banking
Funds Reflects Strength
of Local Institutions

The flow of New York banking funds
to London has been resumed after &
lapse of about year. Bankers esti-
mated yesterday that upward of $685.
100000 has been transferred to Eng
land in the last week or so for tempo
rary investment in that market.
Further transfers are considered like
ly If money rates become easier here.
Funds that have gone to the other
side in recent days have been invested
in short term discount bills, which
are very liquid and can quickly be con-
verted into cash for transfer back to
New York in case of necessity. Lon
don quotes a higher rate than can be
obtained on the same kind of paper in
the New York market.
In financial circles the fact that local
banks are again investing surplus
funds in London is looked upon as
significant. 1t is considered quite re-
markable that the banks are in a posi-
tlon to do this, in view of the extraor-
dlnary demands that have been made
by the government upon their re-
sources IN recent months. Whether the
movement reaches large proportions
depends, it is said, upon money market
conditions here. If rates stiffen again
as is not unlikely, inasmuch as the
Treasury is about to begin the issu-
ancc of new series of certificates OF
Indebtedness for a total of $4,000, ,00O,.
600, local discount rates are likely to
prove sufficiently attractive to keer
surplus banking funds at home.
Shifting of banking balances be.
tween New York and London has been
one of the interesting phases of the
international money market since the
war began. In 1916, before the United
States entered the war, New York
banks in one week alone transferred
$100,000,000 to London, because they
found they could employ their money
more profitably there. These funds
subsequently returned to New York
when money rates here hardened. In
1917, just prior to our entrance into
the war, substantial balances were car
ried in London by local banks. Up
until the present money rates here have
been high enough to keep funds at
homo.
New-York tribune., 1918-06-25
Other Cities
Commercial ORGANIZATIONS yoir H,rd

Commercla1 Organizations Join Hands,
ALBANY. June Representatives
of many of the chambers of commerce
and other commercial organizations Of
the state met here to-day and formed
what is to be known as the General
Conference of the Commercial Organi-
cations of the State of New York. The
organization is not intended to be a
Dody OF action, but rather a means for
obtaining the opinions of the indi-
vidual members and the coordination
of effort A general meeting viii be
held annually in January, and special
meetings mag be held at such other
times as the executive officers deem ad-
visable. Election of officials will take
place probably in about two weeks.
Governor Whitman addressed the
gathering and spoke strongly in favor
of the organizations purpose.
New-York tribune., 1918-06-25
Ne,u Rates, Effective
To-day, Affect Most
Short Line Roads

WASHINGTON. June 24.-Increased
freight rates, effective at midnight to-
night, will apply to shipments on most
short line railroads, as we'll as to the
bigger roads under government con-
troll, as large proportion of the short
lines have filed schedules of new rates
with the Interstate Commerce Commits
sion, in conformity with increases or
dered by the railroad administration.
Shipments started on their way to-
night will be carried at the old rate
to their destinations, but shipments
accepted tomorrow will be at rates Is
per cent or more above old rates. New
go into effect Wednesday. Railroads
expect at least $7OooOO,0o0 increased
revenue annually from the new rates.
New-York tribune., 1918-06-25
FINANCIAL MEETINGS
New York. June "a, 1918.

New York. June "a, 1915.
TO WHOM IT MAY CONCERN:
TAKE NOTICE that at special meet
ing Of the stockholders Of the Schlesinger
Radum Company, Inc, held at Room 2S22.
No. 120 Broadway. Borough of Manhattan.
City of New York. New York. at 2:so
p. NJ. June 11th. 1913. the following reso-
luton was unanimously adopted by the
vote Of all persons present in person or by
proxy representing all the stock Of the
Company:
RESOLVED, that the name Of this
Company. The Schlesinger Radium Com
pany. Inc. be changed to The Radiun,
Company Of Colorado. Inc and that the
proper officers of the Company be ana
they hereby are authorized to take such
steps, execute and file such papers. docu-
ments, or certificates as may be necessary
to consummate such change Of name
hereby authorized by the unanimous vote
Of those persons owning all the stock OF
the Company present In person or oy
proxy at this special meeting Of the Com
panys stockholders duly called for thas
purpose. ,x
THE sCHLESINGER RADIUM CON-
BY VICTOR c. THoRNE.
President.
JOEL W. THoRNE. Secretary"
New-York tribune., 1918-06-25
Regular Declarations

Babcock & Wilcox Company:-Qussssa.r, y,
dividend of So per share. payable cetws.s
July ! and July 10 to stockholders OF sess''
June %.
Cardenas American Sugar CempsN,.
Quarterly dividend of $l.75 per shars sa 80.
preferred stock, payable July 70 s.eeAi
ers of record June "a
Cuba Railroad Company.-Sen'-snasr. a..
dividend of per cent. payable IN sesse se
gust / to stockholders Of record June -.
Harlem Savings Bank.---Semi-snnra = ~ se
dend of 1Z per cent, payable july
stockholders of record June 10. e,
Ohio Leather Compsny.-Quarterv ~ "a
dends of ~ Per cent on the comn1oa seSk
Ia per cent on the preferred stock. Ssssd
palable July to stockholders o1
June 22.
Pacific Telephone 4 Telegraph Ccnpssvts. e.
Quarterly dividend of ~ Ter cent 81
July Is to stockholders OF record Shns ~.
Pernsylv-nia Salt Manufacturing Csssss ~
Quarterly dividend of 2is per cent - - a.
July Is to stockholders OF record 'S'. s..
Pittsburgh. McKee~port & fsuAssss
Railread.--Dividend Of l "a per cent.
July l to stockholders Of record June ~.
Southern California Edison CcNsMsssha q ~
Quarterly dividend Of SITS per snssa M r
first preferred stock. payable Jus
stockholders of record June Su -
Superior Steel Corporation Quaxtstss s.ss3.
idend of ~ per cent on the common 5ssssa ~
payabia August ] TO stockhoiders q :sss1l6
July Is: slso. the regular quarterly ~ 3s1~
Of 2 per cent on the dr.t ana eeMnst ~
ferred stocks. both payable AqGR sl
stockholders of record A11uR ss5S
New-York tribune., 1918-06-25
Stock and Bond Averages

add $7O0,0O0,O00 year to the income
of the roads.
The order under which the rise is
authorized provides: "The rates, fares
and charges to be increased under this
order are those existing on May Is,
1918, including changes heretofore
published but not then effective and
not under suspension, except where
the Interstate Commerce Commission
prior to May 25, 1918, authorized or
prescribed rates, fares and charges
which shall have been published after
May 25, 1918, and previous to June Is,
1918, the increase herein prescribed
shall apply thereto. Such authorized or
prescribed rates, fares and charges not
SO published shall be subsequently re-
vised when published by applying the
increases prescribed herein
New-York tribune., 1918-06-25
News Digest
Foreign

London Stock Exchange Bright
LONDON, June 24.-The stock market
to-day developed a bright and strong
tone on the Italian SUCCESS, which
stimulated business in gilt-cdged Sc
curities at hardening prices. Investors
also supported engineering, oil and
shipping shares, while Russian and
Mexican issues proved more attrac-
tive than for some time past. Money
was in better supply and discount rates
were steady.
Paris Bourse Inactive-PARIS, June
24.-Trading was quiet on the Bourse
to-day. Three per cent rcntes brought
50 francs 80 centimes for cash. Ex-
change on London was quoted at 27
francs Is centimes. Five per cent loan
sold at 80 francs 20 centimes.
New-York tribune., 1918-06-25

The argument that imitation must
sooner or later find expression in the
form Of higher prices for stocks is
still heard. Probably it will event.
ually cause a rise, but that event is
likely to be so long deferred as to be
Of little interest to Wall Street trad
ers at present. In the immediate
future security holders can rest con-
tent if imitation does not react ad-
versely rather than favorably on
stock prices. 1t is almost sure to do
so in many cases. Certainly it can
not be expected to enhance the value
Of the shares Of companies working
under fixed prices as long as price
control is maintained. Such COM
panies are in a position comparable
with that Of the public utilities. AS
the costs of operation rise, the mar
gin of profit shrinks, for the obvious
reason that the increased costs cam
not be passed along to the consumer.
There seems to be a disposition
upon the part Of many Of the leading
business men of the country to re-
gard the war savings campaign as
a thing apart from their immediate
interests. Having subscribed many
thousands, or even millions, of dollars
to the Liberty loans, they cannot see
the Importance Of buying all the war
savings stamps the law allows
them to possess-a total, at the cur
rent price, of 1894. But that is an
entirely mistaken view of the needs
of the situation. 1t is, if anything,
more important that such men should
join enthusiastically in the campaign
than those of small means, because
of the example they could set in do
ing so. Let each Of them buy the
limit in war savings stamps, not
out of investment funds, but out of
savings effected by doing without
something that entails sacrifice, and
make the saving as conspicuous as
possible. That might give important
impetus to the thrift campaign. 1t
should always be remembered that it
is not 80 much the saving in money
that counts as the saving in goods
and services.
New-York tribune., 1918-06-25
New Federal Plan
Menaces 800 Short
Line Roads, Is Claim
Freight Rates Rise, Start
ing To-day, Will Benefit
Independent Lines


WASHINGTON, June 24.-Because
of the railroad administrations atti-
tude toward the short-line railroads
of the country, ten thousand miles Of
lines belonging to smaller companies
are now on the verge of bankruptcy
and threaten to suspend operations,
representatives. of the short lines told
the Senate Interstate Commerce Com
'nittee to-day, in opposing Director
General McAdoo's request for an ex
tension of the time during which con-
troll over the carriers by the govern
ment may be relinqushed They
urged an amendment to prevent relin-
quishment of short lines during the
period while control Of competing
trunk lines is retained.
B. M. Robinson, president Of the
American Short-Line Railroad Associ-
alton, declared the resolution embody-
ing the Director Generals plan in its
present shape nulliies the present law.
Ben B. King, of Dallas, Tex, and
a member of the executive committee
of the association. bitterly assailed
the administrations attitude, saying
he had been Informed that it does
not intend making any contract with
short lines. but proposes to announce
general policy relative to them. Such
procedure, Mr.. King said. would only
result in ruin for the roads affected
because it would destroy their credit.
Reduction of Income
Mr. King said the operating income
of his road, the Gulf, Texas &
Western Railroad, has been reduced
about SO per cent since the govern
ment took control Of the railroads
because much of the freight ship
ments which formerly passed over that
line are now being routed over gov
ernment controlled roads which COM
pete with that one. He said relinquish-
ing of the Denver & Salt Lake Rail-
road, road about 200 miles in length.
by the government, had destroyed that
roads credit and that the Colorado
Midland Railroad, having mileage
of 344, also will have to suspend
operations for the same reason. The
Midland road, Mr.. King said, parallels
the Denver & Rio Grande Railroad, and
all traffic has been diverted to the
latter road.
Witnesses told the committee that
practically 500 short-line railroads in
the country, with total Of 10000
miles of track. are affected by the
resolution.
The Administrations Stand
John Barton Payne. councillor for
the railroad administration, defended
the Administrations action in re-
linquishing control over the Colo
RADIO Midland Railroad, declaring the
100000 a year compensation asked
by President Carleton, was cxorbitant.
The road, Mr.. Payne said, represented
a $2,000,000 investment and had been
operating at a loss.
Mr.. Payne said the problem Of the
short-line railroads is a great one
and that the railroad administration is
doing it's best to meet it in 4 wise
way. Senator Cummings, Of Iowa, took
exception to what he said was the ad-
ministratlon's attitude toward the
roads. He said the law permits set
Elements of compensation claims in the
courts and added that he believed it
would be far better for the admin
istration to take this course than to
drive the roads into bankruptcy.
New-York tribune., 1918-06-25
Relevant Comment
Royal Dutch Declines

Royal Dutch Petroleum share certi-
fcates continued their erratic stock
market career yesterday. They opened
at "a and sold down to 9O1s, closing
at 81 for a net loss of points. Last
week Royal Dutch opened at 1o5, sold
up to lit and subsequently reacted to
81, closing on Saturday at 80. The
market for this issue is extremely
thin, as is indicated by it's wild gyra-
tions. Yesterday, for example, It re-
Guired the sale of but 400 shares to
cause a decline of 8 points.
New-York tribune., 1918-06-25
DISSOLUTION NOTICE

DISSOLUTION OF CORPORATION.
Notice Is hereby given that Spselsl
Meeting of the Stockholders of the Arthur
McMulien & Melvin Co.. a New York CSr.
poration, Will be held at the ONCE o. tns
Company. 14s Broadway. New fcrM ~. y.
three oclock p. NJ on July ~, 1919. TOT w
nurpose OF considering the dissolution q
said Company. and for the considersMS,na
of any other matters that may propetu
come before said meeting.
F. ]. PARKER. Secretssys
juno 18th. 1918.
New-York tribune., 1918-06-25

heavy inquiry from local and out of
town institutions for bills which are
eligible for rediscount at the Federal
Reserve Banks. Rates yesterday were
unchanged as follows:
Thirty Sixty Ninety
Spot de- days. days. days.
livery: Per cent. Per cent. Per cent.
E gible
nj m be r
banks. =. .4I4@4 4h@4h 4A@44
E gible
non-mem-
ber banks4A@4Ia 4aa@4I4 4is@4h
n eli gible
bank bills.5M@4a4 5A@424 5I4@4s4
For delivery within thirty days:
Per cent.
Eligible member banks ........ 4L2
Eligible non-member banks. ..... AS
Ineligible bank bills. ls............ 6
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., 1918-06-25
Financing Canadian R. r. Notes

Underwriting arrangements have
been made in London in connection
with an issue of $12,O0o,0o0 of new S
per cent three-year Canadian Northern
Railway notes, guaranteed by the Do
minion government. The proceeds of
the notes will be applied in the re-
demption of an equal amount matur-
ing on August 12.
New-York tribune., 1918-06-25
The Dollar in Foreign Exchange

Sterling exchange rates displayed
firmer tone yesterday and the ten
dency was attributed to the transfer of
funds to London by local banks, which
are making temporary investments in
London discount bills.
Rates on Sweden were higher, with
Stockholm crown checks quoted at 35.o5
cents. an advance of 80 points from
Saturday. Other Scandinavian ex-
changes were steady.
Closing rates yesterday, compared
with week ago, follow:
Quoted dollars to the pound.)
New-York tribune., 1918-06-25
Freight Rise Will
Add 0O,OOO,OOO to
Roads Annual Income

The general increase of 25 per cent
freight rate provided for in General
Order, No. %, of the Director General
of Railroads goes into effect TO-DAY.
1t is estimated that the new scale will
New-York tribune., 1918-06-25

The above rates express the cost of
foreign money in terms of the Ameri-
can dollar: You buy an English pound
sterling at. say, $4.75x. The intrinsic
parity is $4.865s 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., 1918-06-25

London Money Market-LONDON
June 24.-Money was easy at 3 per
cent. Discount rates we're: Short
bills, 31 per cent; three-month bills,
9-16 per cent. Gold premiums at
Lisbon were at 10000.
New-York tribune., 1918-06-25
both payable July / to stockholders o.
record June %.
Increases

Continental Insurance Compsny-
The semi-annual dividend has been m
creased from per cent to 8 per cea'.
Fidelity-Phenix Insurance. - IDS
company has increased the semi-an-
>nual dividend from 10 to IL per cenI
New-York tribune., 1918-06-25
DIVIDEND NOTICES
American Telephone & TeIeoranh :,

A dividend OF Two Dollars per sb.,. "a,
be paid on Monday, July Is. 1914 -
stockholders OF record at the close Of bu.I.
ness on Thursday. June 20, 1918.
G. D. MILNE. Treasurer
New-York tribune., 1918-06-25
THE BANK OF AMERICA.

New York, June 18th. 1918.
The Board of Directors have to-day de.
ciared a semi-annuaI dividend Of fourteen
GD per cent. free OF tax. payable July lst,
1918, to stockholders of record of this date.
The transfer books will remain closed
until July End, 1913.
w. NJ. BENNET, Cashier.
New-York tribune., 1918-06-25
Dividends

Extras
Citizens National Bank of New York.
An extra dividend of per cent in
addition to the regular quarterly divi-
dend Of 2h per cent has been declared,
New-York tribune., 1918-06-25
CLEVELAND. CINCINNATI, CHIC3E0 )
ST. LOUIS RY. co.

@'e& WI u '@A N. II,
A dividend Of ONE AND ONE-offSp.
preferred capital stock of this t.omnsnv
has been declared payable on saturdsy
July 20, 1913, to stockholders Of record a.
the close OF business on Friday. June es.
1918. MILTON, S. BARGER Treasures
New-York tribune., 1918-06-25
Reductions

Eureka Pipe Line Company.-,QusI.
terly dividend has been reduced ifc%
Sc per share to S5 per share, paysDis
/ to stockholders of record July 10.
New-York tribune., 1918-06-25
BUY-sEII

MIDWEST REFlNIN CO.
MERRITT OIL CORPORATION
XIX BASIN PETROLEUM CO.
INTERNATIONAL PETROLEUM
IMPERIAL OIL CO., LTD.
LoBITo8 0lLFIELD8, LTD.
0APULPA REFINING co.
HOUSTON OIL CO.
PORT koBo4 PETROLEUM
NATIONAL FUEL GAS CO.
NORTHWEST OIL CO.
Co&pEN AND CO.
Bonpo 4 STOCK
CARL H.PF0RZAEINa R&CQ.
Dealers IN STANDARD on 6ecuritaau
PAnno <soo- i-A4A nssA- - RuaA S.. N. \.