davidaulloa/AmericanStories huggingface dataset:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-04-04
News Digest
New York

Change Members Prepare for Lib
erty Loan Members of the Stock En-
change yesterday formally organized
their forces to participate in the fota-
ton Of bonds in the third Liberty
Loan. A committee composed of the
following men was organized:
w. X. Rcmick, chairman; Gordon w
Abbott, j. S. Bache, Herman B. Baruch
Francis c. Bishop, George Blagden
Benjamin B. Bryan, s. B. Chaplin Her
bert l.. Dillon, Bayard Dominick, Albert
j. Erdmann. James a. Faync, Herbert
|. Foster, Michael Gavin, Donald G.
Geddes, w. Frazer Gibson, Oscar L.
Gubelman, A. C. Gwynne. J. Horace
Harding, Oliver Hartman, John IT,
Holden, Buell. HOLSTER, C. j. Housman,
Walter l.. Johnson, James Lees Laid
law, Arthur Upper, J. b. Mabon. Albert
NJ. McClavc. A. j. Miller, Alfred II.
Newburger, George B. Post, Walter w.
Price, Felix 7. Roscn. Walter 7. Roscn,
Arthur j. Rosenthal, Arnold l..
Scheuer, Richard Sutro, Moses Taylor,
Erastus I. Teft, William A. Tucker,
Henry II. Wehrhane, Henry Rogers
Winthrop and George NJ. Woolsey.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-04-04
High Mark Reached
In N. Y. Foreign Trade
International Commerce Ex-
ceeded Four Billions in
Fiscal Year of 1917

The foreign commerce of New York
exceeded four billion dollars for the
ilrst time in the fiscal year OF 1917,
according to a summary of trade con-
dltions in this port .iust published by
the Chamber of Commerce. The total
foreign trade, including gold and sil,
yer, OF the district, in the year endea
June 50, 1917, amounted to S4,6l. 40,
4o4, against S3.S0I .313,452 in the tisca,
year 1916 an increase Of SSl3.lb5,oVoo
over the latter year and 81 SCI ,sG6,2lv
more than 1915.
For the fiscal year 1917 the total
foreign commerce of all the rest OF the
United States reached $5.714. 035. $40 an
increase of $2.30S, 95S.lS0 over 1910
Excluding the gold and silver and also
the foreign exports. the foreign I'M.
ports at the District of New orr
amounted to $685. 99 ,S55. comparing
with 1921 1855. $40 at all other distriets,;
and with 5000. 355,lS5 in the lnitea
States as a whole. New Works shsIe
OF the foreign imports of the couhueSs
was oo.02 per cent compared with oa''
per cent in 1916.
At the District IF New York the eA'
ports of all articles of domestic me .t
chandise amounted to $3.03l .a29'Ssul,
comparing with $3,l95. 73i.729 at ~ ~
other districts. and with $6.s27 les.VOsv
in the whole United States. New io.s
Districts share of the domestic mel.
chandise exports of the country VIZ ~.
4S.6S per cent, compared with 5S.ts ~ ~
cent in 1916.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-04-04

In Yesterdays market stocks re-
covered some Of the ground lost the
preceding day, but the performance
was as unimprcssivc as it was unin-
teresting. There was only a slight
increase in the volume of business.
the total Of transactions at the cx
change falling short of the 100000
share mark. The days news pre-
scented little that would stimulate
activity, and spectators confined
their operations to such specialtics
as American Sumatra Tobacco and
Studebaker Corporation shares, these
issues actually exceeding United
States Steel common in the turnover
for the session. Wall Street is still
waiting for developments in the
battle on the West front. At the
same time there is a disposition on
the part Of spectators and investors
to wait for the third Liberty Loan
campaign to get under way. Many
market Observers look for quiet
market until the new war loan has
been sold.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-04-04
Denver & Rio Grande
Seeks Large Advance
Railroad Desires $2,5OO,O0O
to Pay Interest on
Bonds

Interests representing the Denver &,
Rio Grande Railroad, it was learned
yesterday, will file with the Director
General of Railroads an application
early next week for an advance of
$2,500,000 with which to pay the in
terest on bonds that fell due on Febru-
airy 1 and April l. The amount applied
will be equivalent to 80 per cent of the
net operating railway income for the
three months ended March 81 under the
governments guarantee.
Based on correspondence which Dew
YER e. Eio Grandc officials have had
with Mr. McAdoo, it is understood that
the necessary funds will be forthcom-
ing. The coupons overdue are on issues
of the parent road and on S16,2OO. 900
first consolidated 4s Of the Rio Grande
Western, which were payable April |.
Officials of the Denver e. Rio Grande
assert that the interest on it's various
bond issues has been earned, but. in
view of the Mnpounding of the com
pany's surplus revenues, it finds itself
without the cash available to make
these payments.
The Equitable Trust Company, in
behalf of the Western Pacific, has made
suggestions to the railroad admins
tration for reorganzing the Denver e.
Rio Grandc, but none of them has vet
been accepted.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-04-04
Russian Debts to u. S.
Corporation Are Paid
Stone Reports Trade Exceed
ing $11,7OO,OOO With
Slay Nation

In addition to its activities at the
Hog Island shpyards, at Philadelphia ia,
and its regular business, Charles A.
Stone, president of the American Inter
national Corporation, announced at the
annual meeting of stockholders yester-
day that during 1917 the company had
acquired an interest in the United
States Rubber Company and the United
States Industrial Alcohol Company.
The corporation, he also stated, has
gon- into the manufacture Of shell
forgings by the acquisition of control
of the Symington Forge Corporation.
Mr. Stone further informed the
stockholders that the Shipping Board
had placed contracts with the Amer
lean international for sixty additional
7,50o-ton ships. making a total Of 1870
vessels now under contract lie an
nounced that the company had COM
pleted ITS contract for building water
works in Uruguay and had acquired as
part OF the transaction over 50 800 900
Pa value Of per cent Uruguay bonds,
maturing serlally from 1913 to 1929.
IN discussing the company's invest
m>nts, ne said that Of the profits for
1917 less than 100000 was derived
from the sale Of securities
Last year, according to Mr.. Stone,
the American international CORPORA
non made detailed i Investigations IN
Russia and Spain. The total amount
Of Russian business transacted in 1916
ana ny was in excess of sll,700,000,
Of which all has been collected but
s33, 500. wv
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-04-04
Draft Takes Many
Lehigh r. r. Workers,
LOOMS Reports
Higher Costs Counterfeit Vast
Gains in Gross Operat-
ing Income

Difficulties in obtaining experienced
labor to handle the traffic of the
Lehigh Valley Railroad in 1917 were
emphasized by Edward H. LOOMS,
president, in the company's annual
report issued Yesterday
'Enlistmcnts in national service and
the draft made severe inroads in our
forccs,' sand Mr.. LOOMS. "Therc was
no general exemption for railroad en-
pioyes from CONSUMPTION, and when
ether industries offered greater COM
pcnSatIon many employees sought work
Win them. To maintain our organiza
ton at necessary strength we were
obliged to employ inexperienced men
IN all departments. During the year
2.l0S nc" men were hired as LOGON olive
hrcmcn, although the normal force was
but 1913; and 3.123 new men were
employed as trainmcn to maintain a
steady working force OF 2.404. The
influx Of now and inexperienced men
got only affected operating efficiency,
but neccssitated the employment Of in
supervision to maintain our services
at the usual Standard"
In the face OF these difficulties. the
company last year handled the greatest
tonnage and received the largest gross
revenues in its history. The total
operating revenues of $5335S.alG were
$l.4oS ,537 greater than the total for
1916. The amount of anthracite
handled was lI,9l6,s91 net tons, am
increase Of 1924 tons.
Higher operating costs, however,
more than wiped out the gain in gross,
the operating income for the year, So
d03.32l. being S2,S76,453 loss than in
1916. The trouble encountered in get
ting experienced labor was reflected in
Il decrease of $5,695,55l in transported
ton charges.
In view of the material and labor
situation, Mr.. LOOMS pointed out in
;hc report that few opportunities were
offered for savings. One exception was
in the item Of hire of freight cars.
Operations FOR tho year showed Il credit
of Sl95,415. compared with a deficit in
1916 CT $512,103.
A comparison made between the III
crease in the cost Of locomotive fuel
and the larger revenue made possible
by advances in freight rates revealed
that, whereas the cost Of the former
was S2,036,372 greater. tho freight rate
increase melted only S60S SOS.
Because Of an increase of $2,OSo ,SSS
in the Lehigh Valleys other income in
1917. the company was able to report
a balance before fixed charges Of Sl4,-
AS0,120. a falling of of only $7S6,565.
After preferred dividends the surplus
available for the S60.50l 200 common
stock $3.50 par), was equal TO $500 &
share. compared with SCAT q share
earned in 1916.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-04-04
YcS,day'S Previous
Relevant Comment
Government Orders for Cars Duc

Tie expectation in equipment circles
is that the government order for
100000 freight cars to nc placed by
the government viii be distributed
within the next few days. The bids
from the car builders have been opened
in Washington and the next step will
be TO assign the contracts to the VI
r.ous companies. The price quoted 10
the government, it was said yesterday
was probably higher than the figure at
which the orders viii pc allotted, be-
cause the quotations from the car
wheels, axles and other parts which
were recommended ty subcommittee
to the general committee on steel and
iron products Of the American Iron and
Steel Institute
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-04-04
Guesses at Steel Earnings

One Wall Street estimate yesterday
placed the earnings of the United
States Steel Corporation for the first
quarter of 1918 at between $4,000 900
and So5,000,o00. After deducting ex
penses incidental to operations and
war income and excess profits taxes
and interest on bonds OF subsidiary
companies. the balance was estimated
at between $4O.O00,000 and $4,000, 900
IDepreclatlo charges, sinking fund on
United States Steel Corporation bonds
and the regular dividends on the pre-
tered and common stocks it was
thought would absorb 10000, 900, leav
ing balance of from $4,000 900 to
$l2,O0O.OOO w
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-04-04
Cotton Prices Again
Rise to Record
Heights for Season
Houses With Western Aml-
iations Exceedingly
Heavy Buyers

The tendency upward of cotton
prices took q new and spectacular turn
IN yesterdays market. The session
opened with the traders unsettled, but
soon there was a notable advance in
quotations, with all deliveries once
more making new high records for the
season. BY way of illustration, July
contracts sold up from 1858 to 1915
or more than sl.5O a bale more than
Tuesdays closing figures and Sc a bale
higher than the low point touched
during the decline last week. July de-
livery closed at 1910, and the entire
LIST at the conclusion of the days trad
ing was strong, showing net advances
CT from IS to SO points
In the opinion of close students of
the market, yesterdays advance re-
ftected active covering as we'll as con-
tlnued trade demand. The buying was
exceedingly heavy late in the after
noon through houses with Western af-
citations. On the part of those who
had sold short last week in the an
ticpation of further declines there
was keen disappointment over the fail
ure of optimistic accounts of the new
crops to start liquidation of spot hold
ings or to check the demand from spin
nerS.
The market was somewhat unsettled
at the start. The reactionary sentiment
which had been in evidence earlier in
the week was again shown in the talk
ABOUND the ring. and found some en-
enlargement in the weather news with
the failure of Liverpool to meet over
holiday advances. Offerings. however,
were readily absorbed and the market
soon turned frmcr. The nature of spot
advices reaching the ring and the per
sistency of the trade buying appeared
to increase the nervousness of shorts
as prices worked higher, stop orders
about SO to 40 points from Tuesdays
closing figures. Last prices were
shade off from the best under realizing,
but tho strong tone reflected g con-
tinucd good demand and there appeared
to be buying orders around the ring
which had not been fully executed at
the close.
No change was reported in the ocean
freight situation, and it was said that a
rate Of 500 was bid for room TO Italy
without securing tonnage. According
to Liverpool mail advices, a Lancashire
authority estimated British consump
tlOn OF american cOltOn 1Of the season
at two million bales, against prc-war
totals Of around three and half mill
ion bales.
Weather reports did not show as
much rain in the Southwest as some
had expected. Otherwise, however. add
vices bearing upon the new crop start
We're generally favorable, and most
local traders are talking a moderate in
crease in acreage. No exports were re-
ported for the day. Southern spot mar
kets, az officially reported, were UNI
changed to % points higher.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-04-04
Reflect S. p. Board

ANCHORAGE, KY, April Q. Stock
holders of the Southern Pacific Com
pany, in annual session here TO- day. re-
elected the board Of directors, includ-
ing julius Kruttschnitt, l.. +. Lorce and
Ogden Mills, and empowered them TO
enter into an agreement with President
WiisoE for government operation Of the
Dropertics under the control Of the
company az defined in the act Of Con
gress providing for government control,
Reports made at the meeting showed
the number NJ stockholders to be ~, 900,
an increase Of 1000 over last year and
that 10000 employees, with the assist
snce Of the road, are paying for Liberty
Losn bonds.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-04-04

The general money situation is
showing signs of easier conditions.
The banks during the last few DAYS
have been more liberal with their
call loan offerings, with the result
that the rate at the Stock Exchange
has fallen from a recent high of 6
per cent to around 3 Y per cent. At
the same time there have been some
offerings of time money by the
banks, although in this market rates
have not Yet receded from the high
level of per cent that has prevailed
Tor many weeks. Bankers attribute
the easier undertone in the money
market to an accumulation Of funds
at this centre in anticipation Of the
coming Liberty Loan Offering. An
ether influence which has resulted in
tie banks becoming more liberal
with their offerings is probably fur
nished in the fact that the amount
Of the new loan, 100000, 900, is
considerably under the figure given
in the preliminary and unofficial es-
Inmates.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-04-04
VIII Pay Tax

Although Stock Exchange firms have
been officially notified that they will
be expected to enforce the recent de-
clsion of the United States Attorney
General regarding TIE payment os the
Federal transfer stamp tax on trans
actions involving short sales, action is
expected in the near future contestinp
the validity Of the ruling by some indi,
vidual Or firm. The exchange authori-
tles stated they cannot oppose such a
proceeding, nor do they feel disposed
been fully determined whether the I'M
post on short sales is retroactive. for
William II. Edwards. Collector of In
ternal Revenue for lower Manhattan.
Is seeking definite information on this
matter from Washington.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-04-04

The latest reports from the iron
and steel industry covering recent
production are encouraging. In the
case of pig iron they show a remark
able recovery from the disastrous
slump of early in the year, when the
country was enjoying the series of
Garfield holidays. During the month
of March 3,213.00O tons of pig iron
were produced in the United States
almost 100000 tons ahead of Feb
ruary and 100000 tons better than
January. This brought the output
close to the figures of March a year
ago. At the beginning of the cur
rent month the coke iron furnaces
in operation were producing at the
rate of about 10000 tons a dav,
against an actual average produc-
ton of coke iron during all of 1917
of 10000 tons day.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-04-04
Express Officials Puzzled

Express officials yesterday expressed
themselves as being "as much in the
dark as the public" concerning the re-
ported plan Of the government for plac-
ing the four leading companies under
the management of one corporation.
From the Washington dispatches, how
ever, it is believed that definite plan
of action Las been decided upon by
the Director General of Railroads, with
the details still to be worked out, with
the likelihood of a guarantee of earn
inSs similar to that under which the
railroads arc now operating.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-04-04
The Railroads in 1917

How the railroads of the country
Jared during 1917 in the matter of or
Grating income per mile, as compared
with 1916, is shown in the FOLLOWING
table, which gives the percentage Of
increase or decrease for the whole
country and for the different territorial
divisions by months. 80
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-04-04
Dollar in Foreign Exchange

Spanish exchange displayed pro-
'hounced strength yesterday, peseta
checks advancing to new high record
of 25.70 cents. Swiss francs were also
in increased demand. Rates on Rome
were easier.
Closing rates yesterday, compared
with week ago, follow:
Quoted dollars to the pound)
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-04-04
Money and Credit

Call money was in liberal supply at
the Stock Exchange yesterday, where
the ruling rate was 81 per cent. Some
loans were placed on per cent basis.
While offerings Of time funds arc
said to be somewhat larger, rates for
fixed date maturities were not changed
yesterday, borrowers continuing to bid
per cent for loans on mixed collateral
for all dates.
Ruling rates for money yesterday,
compared with a year ago, were as fol-
lows:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-04-04

The above rates express the cost Of
foreign money in terms Of the Amcri-
can dollar. You buy an English pound
sterling at, say, s4.153s. The intrinsic
parity is $4.863s per pound. Thus you
say either that pounds are at discount
or that dollars arc at premium, which
is owing to the fact that in England
the demand for dollars with which to
settle accounts in this country is greater
than the demand in this country for
pounds with which to settle accounts in
England
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-04-04
Sumatra Shares Active

American Sumatra shares took on
renewed activity yesterday and on per
slstent buying the price moved up to
the new high record Of 967a, with the
closing sale at 96A. Il net gain for the
session or "a points. Directors meet
for dividend action next week Init IL
is not believed that the current regular
p! per cent rate will be advanced. Nor
is 1t expected that. an extra dividend
will be declared at this time. ~
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-04-04

Commercial Papcr.-This market was
quiet with rates holding firm around 6
per cent for the best regular maturi-
ties.
Bank cceptances.-Ratesw were some
what easier yesterday and brokers re-
ported that offerings were insufficient
to meet the current demand. Bid rates
quoted were as follows:
Thirty Sixty Ninety
Spot delivery: days. days. days.
Eligible member
banks ........ 4s% 42s% 47S%
Eligible non-mem-
Der banks..... 41aS 41as 41z%
Ineligible b n k
bills ~ 5H4ss 5I4ao 5A%
For delivery within thirty days:
Eligible member banks. 45a%
Eligible non-mcmbcr banks. ... 43a%
Ineligible bank bills. ......... 6 %
Discount Rates.-OfIicial rates Of dis
count for each Of tn, twelve Federal
districts are as follows:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-04-04

Silver. Bar silver in London was
493s, unchanged; New York, 921sc.
unchanged; Mexican dollars, 74c, un-
changed.
Sub-Trcasury.-The banks lost to the
Sub-treasury yesterday $645, 900.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-04-04

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. [volume] (New York [N.Y.]) 1866-1924, 1918-04-04
Foreign

Paris Bourse Dull.-PARIS, April 3.
Trading was dull on the Bourse to-
day Three per cent rentes brought
% francs "A centuries for cash. Ex-
Grange on London was quoted at 27
loan sold at SO francs So confines
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-04-04

Don, April 3.-Money was plentiful to-
Gay ana discounts were quiet On the
Stock Exchange, pending further deve}-
opments in the war theatre. business
was of small dimensions. The tone wos
chcerfully confident. Gilt-edged secu-
rites and bonds of the Entente Allied
countries were firmly maintained.
Spanish bonds and Argentine rails we're
good IN spots, and there was a little
boom in Cornish tin mine shares Rms
sian securities were flat.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-04-04
Market Barometers
Stock Exchange Transactions

January ! to date:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-04-04

Bank ClearIngs.~-The days bank
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-04-04

'Income.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-04-04

IRON Company. Statement Of business
for *he month of February shows re-
ceipts of s4,l50,S76. compared with
s3.1S5,199 for the first two months of
1917. Profit in operating amounted to
1927 1888, compared with s32O.361 for
the same period of the preceding year.
Canadian Nnrthern
The Holly chieftain., 1918-02-08
sir.hd.y r.rty

The home of Mrs. John Duncan
was the scene Of much merriment
last Tuesday evening, when Mrs. Dun
can entertained the younger crowd
at Z o'clock dinner in honor of
Miss Janet's 18th birthday. The
valentine color scheme of red and
lavendar was carried out in decora-
tions and during each course. A
beautiful bouquet OF red roses, bank
ed in violets and smilay formed the
attractive centerpiece Small rib
bons of red arsd Invendar ran from
each place to the center-piece at
tached to a delightful surprise
which Occasioned much conjecture
until after the salad course when
each guest was requested to pull
his ribbon. The surprise proved
to be fortune" for each written
in verse on a large red heart. The
place cards were also valentines.
Red and lavendar ice ceam, and
small cakes encrusted with tiny
roses, and heart shaped after-din-
ner mints of the same color served
to carry out the valentine sugges-
tiOns. Five courses were served.
The guests united in presenting
Miss Janet with beautiful ivory
hair brush. She also received
many other dainty and useful gifts
Among those present were: Angi-
nette Sherman, Katie Rockwell
Mabel Rockwell, Ethel Mills, Ida
McGlashen. Cecile Wilson, Ruth
Christopher, Janet Duncan, Curtis
Coffin. Walton Cores, Herman Kin
gerry. Richard Demaray, Tom Nc
Glashen, Fred Towne, Otto Mc-Mur-
try.
When the party broke up at
about ten o'clock all joined in
hearty congratulations to the host
css In her ability to serve perfect
dinner and all pronounced it one
of the most delightful parties of the
season.