davidaulloa/AmericanStories huggingface dataset:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-06-23
Cotton Goods !
Prices To Be Fixed

WASHINGTON, June 22.-As a fore
runner to sterilization Of the cotton
industry by price fixing, the price fixing
committee Of the war industries beard
to-day was in conference with the war
service committee of the National
Council of American Cotton Manufact-
urers.
Prices were submitted on a few
staple cloths, which were materially
lower than the present market prices.
and the board asked for submission on
July / of a schedule Of prices on the
complete list as well as prices on cot
ton yarns, all on parity with the
prices suggested to-day.
AS part Of the programme planned
to be operative within few days, the
following stipulation was accepted, sup
Elementary to- provisions previously
agreed to:
Gall sales made after June 81 and
before October / will be on the basis
Of the prices to be approved by the
price fixing committee to apply to sales
before October l, this regardless of
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-06-23
News Digest
Other Cities

President Approves Iron Ore Rise
WASHINGTON, June %. Approval
was given by President Wilson to-day
to steel and iron prices agreed upon
yesterday by the War Trade Board
and the American Iron and Steel In
stitute. Base prices Of Lake Superior
ore are increased d. cents q ton, the
price of steel bars, shapes and plates
is made f. o. b. Pittsburgh, and all
other maximum prices now prevailing
are continued in effect from July / to
September 80.
Lumber Prices Regulated. WASH
lNGTON, June %. = Maximum prices
for Northwestern fir logs and lumber
and for Southern pine lumber for a
period of ninety days from June Is,
have been established by the price
fixing committee of the War Industries
Board. an announcement to-day said.
The detailed schedules for the prices,
which are maximum. rather than fixed
prices: have been approved by Presi-
dent Wilson.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-06-23
FINANCIAL MEETINGS
AMERICAN TELEPHONE AND TN1-
GRAPH COMPANY.
No. 1913 Hroadwnv II

New York. N. E. June 10, 1874.
To the Stockholders:
Notice is hereby given that q spectsi
meeting of the stockholders Of the Amssi-
can Telephone and Telegraph CompaHy
will be held at the principal ONCE Of tbs
Manhattan, City Of New York. N. T., on
Wednesday, the third day OF July. 1919.
at 1890 o'clock A. NJ. to consider and get
upon the question Of authorizing the Issue
OF convertible bonds.
The transfer books Of the Company VIII
be closed at the close Of business on Juns
22d, 1918, and reopened at 1000 A. NJ. %
July 5th, 1913
By order of the directors.
ARTHUR A. MARSTERS. Secretary.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-06-23
spending period of the ureced,nu v,.~
decrease Of $142,852, '''

49, ~. ~ q Cne preceding year.
Grand Trunk Railway Of Canada-
GROSS earnings for April amounted to
sl'o26,loo, compared with s77e,4o0 for
the corresponding month Of 1917. Net
was sooo'o0O,. against s196,150 for April
for the first four months Of the current
year totalled s3,14t 900, a decrease Of
Hslas,ooo from the flrst four months Of
n year. Operating deficit for the
first third was 9263,7bo, compared with
surplus for the same month Of 1917
of e582,850. ~ - Ava
Detroit. Grand Haven & Milwaukee
Railway.-The company reports gross
revenue for May Of e5o.5oo. a decrease
o. 81 $1,000 from the corresponding period
Of the preceding year. Operating defl-
CIT for the month totalled 81. COO.
which compares with eg,70o for the
same month Of the previous year,
Gross earnings for the arpt four
months Of 1917 amounted to e1S7 900.
against 32oe.b00 for the four months
ended April, 1917. Operating deficit
was x4o,0O0. compared with $4,000 for
the corresponding months Of the year
SASs aA Increase OF Sl,SUV.
Grand Trunk Western Railway Com.
pany.-Report FOR April discloses gross
earnings Of s1s1, 700, which compare
with $4,000 for April of last year.
Operating deficit for the period to-
tailed S2s,S50, an increase in deficit Of
Eli ,25O over the same period Of the pre-
cedlng year. Gross revenue for the
four months ended April 80 amounted
to 300, against ESTE, 400 for the cor
responding month of 1917. Operating
ESQ.
New England Company Power sys-
tems-The company reports gross earn
ings for May of $262,323, compared
with $220,586 for the corresponding
month Of last year. Net earnings to-
tailed $13S,444, against $135,578 for
April Of 1917. Balance after interest
and preferred dividends amounted to
$62,bl5, which compares with s54,1o5
Tor the same period Of the preceding
year.. Gross earnings for the Ave
months ended May 81 last were s1.27b.-
766, against $1,035,189 for the first Ave
months of the previous year. Net earn
ings were $552,062, compared with
$66S,S2S for the same months Of the
year previous. After interest. balance
amounted to $685., 0O2. After preferred
dividends had been paid the surplus
totalled $182,S28.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-06-23
International Paper weakens

Weakness in international Paper
common yesterday was conspicuous by
reason of the strength displayed by the
rest of the market. From the high
price Of 36% the stock broke to 34h
and closed at 35m for a net loss of
1B. Important selling is said to have
developed in this issue since the an
nouncement of the Federal Trade Com
mission last Wednesday that it had
fixed the price of newsprint at 1910
hundred pounds. Officials of the
company expressed disappointment over
this decision.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-06-23

> With none Of the pyrotechnics
such as marked the rapid advance Of
prices on the Stock Exchange in the
period of excited trading that culmi-
mated on May 16, the market has
climbed steadily for several weeks
until the general level Of prices now
stands but little below the years
high. Steel is still we'll under it's
peak Of last month, and so are Bald
win and Marine preferred and some
of the other feature stocks in which
speculative interest centres, but
these stocks do not make the whole
market, and examination of the list
will disclose the fact that a number
Of the less sensational stocks
reached new high points for the year
during the last few days. Except
for the wide swings OF Marine pre-
ferred, which fluctuates erratically
as the IDEAL on" sign is reversed to
read IDEAL off," and then back
again, there has been no outstand-
ing feature. The conspicuous alb
-sence Of the excitement which usu-
ally accompanies a sustained ad-
vance of prices has made the move
ment seem the more impressive. The
explanation for this unwonted calm
ness probably is that dealings have
consisted chiefly of commitments by
professional traders. There has,
however, undoubtedly been some &C
emulation of stocks by small in
vestors as well as. by the so-called
big interests. It was this buying
rather than the ordinary specula-
tive transactions which caused the
rise. AS it happened, there was
little or no liquidation; there was no
chance of any. That will take place,
it it comes at all, when prices are
higher and speculative interest is
wider than it is now. Under the
circumstances, therefore, compara-
lively little real buying was re-
quired to produce the advance that
has taken place, and that seemingly
is still under way.
The question with which Wall
Street is chiefly concerned at the
moment is whether or not prices
can go much higher without arous-
ing general interest, and so bring
about another period of unreason-
ing speculation. The answer would
Seem to be in the negative, for
brokers already report a broader
inquiry, and one is beginning to see
about commission houses those dim
~ remembered faces that appear
only when general interest in the
market is quickening. Some OBJ
servers profess to see in the situa-
ton the beginning of real bull
market. Such a development would
be an unfortunate thing. 1t is poor
time in which to conduct a big
speculation. It would, moreover, be
dangerous in the extreme. The mar
ket has discounted many things
perhaps even much higher taxes
but it has not, and can not, discount
in advance the many shocks it will
almost surely receive in the coming
months. A nation cannot devote an
proximately half its annual income
to war, as we propose to do this
year, without causing readjustments
infinitely more radical than any
agphich haua occnrrod AL.n e.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-06-23

the period during which delivery Is -
be made" Prices will later be fixed to
apply to sales made from October e
December 81, or for any other period
which may appear desirable, the board
announced.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-06-23
Baldwin Tip Makes Good

A widely heralded tip on Baldwin
Locomotive made good in yesterdays
short stock market session, and the
stock from low of 81 moved up to
50 and closed at 94A for net gain of
3h points. Baldwin has been the foot
ball of the market for the past two
months. Traders realizing the small
floating. supply have been largely re-
sponsible for the cratic fluctuations.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-06-23
The American Agricultural
Chemical COMPANY

New York, June 18th 1917
quarterly dividend Of one and ons-haif
per cent on the Preferred Sto"E Of ,hjs
Company (No. 52), and a quarterly days.
dend Of ono and one-half per cent on ths
Common Stock mo. 80. have been q.
- l. Il Is Mr..
ers Of record 1T the close Of bushes, Is
Monuay. -4.l., 1919.
THOMAS A. DOE. Treasurer,
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-06-23

Bank Clearings.-Bank clearings yes
terday in New York and other cities
were:
Exchanges. Balances.
New York. .$653. e72,e1O $62,538, 889
Philadelphia 160,985,797 13,886, 206
Bank Acceptances-Rates at the close
Of the week were as follows:
Thirty Sixty Ninety
Spot de- days. days. days.
livery: Per cent. Per cent. Per cent.
E igible
M m Der
banks. :. .414@4 4A@4h 4A@414
e igiblc
non-mem
Der banks.4h@4Is 47a@44 4h@4s
I n eligible
bank bills.54@494 5A@494 5l4@424
For delivery within thirty days:
Per cent.
Eligible member banks ........ 4I2
Eligible non-member banks. 800. 40
Ineligible bank bills. 8
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-06-23
Relevant Comment
Denver & Salt Lake Plan on

Bondholders Of the Denver & Salt
Lake Railroad have been notified by
the protective committee representing
their securities that it has been IN
able to formulate a plan Of reorganizs.-
ton because Of q disagreement with
the railroad administration as to whas
the roads rental should be. The au-
thorities at Washington considered
that the rental recommended by the
receiver was too high, and they pro-
posed that the road be operated by the
government with no compensation. The
bondholders' committee as q result of
these developments has accordingly
notified Director General McAdoo that
it Cannot consider any such arrange
ment and will be forced TO oppose il in
all proper ways"
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-06-23
Current

The above rates express the cost Of
foreign money in terms of the Ameri-
can dollar. You buy an English pound
sterling at, cay, s4.75M. The intrinsic
parity is $4.86M per pound. Thus you
say either that pounds are at dis
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. [volume] (New York [N.Y.]) 1866-1924, 1918-06-23


the twelve the close follows:
RESOURCES
June June4
Gold $43a773000 332667000
Gold 46UoWN 4eSo1vUO
O0800O 44O84O0O
Total Ss5oSo4oo $500 euo
Goid with Federal Reserve
0o1o
Total s1e2a7sooo s1essoaooo
Legal silver ec 6e7380o0
Bills Tsts ' ssa sasss
Bills bought 22472oOo 242o23O0O
Tota, bills S163742oO0 $1258954000
states SO877000 4O683OOO
oi'e1 states 1T 8s30o0 33790oo
All othe earning 100000 $4,000
, o'a earning assets a1,3334ooc0
1soea Reserve
~ e"' ''''.'.............. So. $4,000 s2e653Oo0
Total deductions
rive per cent redemption fund against Fed
All h era reserve Bank $7a5ooo 7sooo
- N"ASNS -
-''@' 1e'0u''' sasoess2ooo sas4s711ooo
LIABILITIES
S uP1in paid $767oooo s7H7,ooo
- 1871 oeposs t59457O00
DanAs-hesee account
denosits
- S0' 'oieoi's' 1t7345OO 123221O00
r,, A'' s2,o2s55oooo s2oso74ooo
Federal Reserve circulation s1e7zeooo 81 es1 m
Federal Reserve Bank n '' ~''S'0"'oo
liabilities
12335000 122o1000
n 0 se ''''.'''.'........ sa,soees2ooo sas4e71ooo
" go reserves to net deposit
complhed 6l6 before 1
a1 OF 5oea reserves to net epos and Federal
Ties combined 6a4 per cent Week before,
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-06-23
Want New York Railways Surplus

Holders Of the income per cent
bonds of the New York Railways Com
pany have organized, under the lead
Of John Gambler Cobb, of Boston, Mass,
for the purpose Of bringing action to
require the company to distribute to
holders the reserve fund, which was
recently released by decision Of the
Circuit Court of Appeals in favor OF
the company against the Public Ser
vice Commission for the LIST District.
The committee has retained Morgan ].
O'Brien and S. Sidney Smith to repre-
sent it. The amount involved in the
case is $3,127,25s. The bondholders
also intend to bring action to have the
income Of the current year, amounting
to approximately $4,000, applied to
interest on their bonds rather than to
q deficit created in the fiscal year
ended June 80. 1918. because Of strike
OF employees. The, committee is also
King efforts to obtain an increase in
company's fares and a curtailment
u night service during the war period,
so as to increase net earnings to pay
full interest on the bonds.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-06-23
THE BANK ON AMrRYc.

New York, June 18th, 1914
The Board of Directors have to-day de-
clared a semi-annua1 dividend of fourteen
90 per cent. free Of tax. payable July let,
1918, to stockholders OF record of this data
The transfer books will remain closed
until July End, 1918.
w. NJ. BENNET c.axhier
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-06-23

New York, june II. 1919.
A dividend of Twelve Per Cent has to-
day been declared by this bank. payable
on the LIST day Of July next The transfer
books will remain closed till that date.
E. P. TOWNSEND. Cashier.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-06-23
Money and Credit

The weekly Clearing House statement
showed decrease Of $136,S67 900 in
loans and discounts. Net demand de-
posits decreased $14s,0s1.0oO. These
large changes represent the liquidation
OF loans made following the period of
Federal tax payments Surplus re-
serves Of the banks decreased $22,451,-
400. United States government de-
posts at the end of the week totalled
1871. 7S6, 900.
The Federal Reserve Bank of New
York showed in its week statement bills
discounted and bought amounting to
&5o6,7so.S7s. The gold settlement fund
amounted to $140,617,00O, compared
with $S9,5l4,ooo week ago.
The actual condition of member
banks shown by the Clearing House
statement yesterday follows:
Loans, discounts, invest
ments, ETC.. 81, 460 Az. 900
Cash in vaults of Federal
Reserve members. og136OO0
Reserve in Federal Re-
serve banks. S108S1 600
Cash in vaults of state
banks and trust COM
panies ................. 14,e47.ooo
Reserve in repositories. e.158,OO0
met demand deposits. s,672, 2e1 900
met time deposits. 15s,5s1 900
Circulation ............. 36,573, 600
Aggregate reserve. 634,686, 600
Excess reserve. A,146,0 900
United States deposits deducted,
S371 .786.00O.
The changes from = week ago:
Loans and discounts. Dec &136 967 COO
Cash In vaults Of Fed
eral Reserve mem
bers .............. Dec. 783,0o0
Reserve in Federal Re-
serve banks. Dec. 41,oe60oo
Reserve in vaults Of
state banks and trust
companies ........ Dec. $4,000
Reserve in depositories.Dec. 745,00o
Net demand deposits. Dec. 1890 I 600
Net time deposits. :. Dec. 1885, 600
Circulation ......... Dec. $4,000
Aggregate reserve. :. Dec. 42,$0*O00
Nsxcess reserve. :. u. Dec. 22.46f 400
london Money Market.-LONDoN.
fune 2c.-Money was Arm at per cent.
Discount rates were: Short bills. 3A
pAr cent; three months bills, s 9-16 per
rent; gold premiums At Lisbon were
1000.
SlIver.--Bar silver In London was
<szd, unchanged; New York. oshc.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-06-23
Sub-Treasury.-The banks lost to the
Sub-Treasury yesterday S3,3O8,00O.

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. [volume] (New York [N.Y.]) 1866-1924, 1918-06-23

Closing rates yesterday. comnared
with a week ago, follow:
Quoted dollars to the pound.)
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-06-23

ATLANTIC NATIONAL BANK
of the City Of New York.
June IL, 1913. ~
The Board OF Directors have this day de-
clared semi annual dividend of 81 free
OF tax payable on and after July I, 1918,
to stockholders ofs record at the close Of
business June 20, 1913.
r. E. ANDRUES, Cashier.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-06-23

Federal Reserve Banks

WASHINGTON, June 22Docreases
$s6o0ooo bills
wore features Of this weeks The condition
twelve banks the folows
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-06-23

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, 1918-06-23

unchanged; Mexican dollars, TIC, un-
changed.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-06-23

ready 1Or the Durden ana Cne privilege
which the President said must be
shared by every banking institution in
the country"
MIR. Jay told Of the rapid growth of
the Reserve system, calling attention
to the fact that in a year it's deposits
had increased from s700,0O0,O0G to ST.
b00,000,000. The demands on it's credit
power have increased proportionateIy,
he said. The Federal Reserve Bank
OF New York was called upon for $212,-
100000 Of additional credit in the first
nineteen days of last June, while dur
ing the second Liberty Loan campaign
the bank was called upon for about
S4b0,000,00o Of additional credit. Cred
ITS granted as a result of the third
Liberty Loan were put by Mr.. Jay at
$3.50 100000.
at IS Of vital Importance to the
member banks" said Mr.. jay. "the non
member banks and the business of the
country and above all, to our success
ful prosecution of the war, that the
Federal Reserve system should be able
to provide all the credit needed dur
Ing the war and still continue strong.
think nothing would be a greater cal
amity to the banks and business of the
country, nothing would hinder our par
ticipation in the war more than to
have the Federal Reserve system fail
TO continue strong. Yet, although it
has to furnish 100 per cent of all the
vast credit needed. only 70 per cent Of
the banking resources of the country
are contributing their share to it. This
is an unsound and unsafe situation for
the country In war time, at least, when
~ is imperative. to use the Presidents
words. that it should have its maximum
strength. A 70 per cent organization
OF our credit power will never win the
war"
The Fargo forum and daily republican., 1918-12-21
SENATOR REED
CLASHES With
INVESTIGATOR
Resents Intimation That
He Is Representing
w. r. Hearst
tBy Associated Press.l

Washington, Dec. 21.-Cross ques-
tioning by Senator Reed OF Missouri,
who is not member of the COM
mittee, led to a sharp clash at to-
days session of the senate COM
mittee Investigating German propag-
anda between the Missouri senator
and Alfred l.. Becker, deputy attor-
ney general of New York, and Major
e. Lowry Humes, in charge of the
inquiry.
Mr.. Becker refused to answer ques-
tions by Senator Reed as to the iden-
tity of persons employed by the at
torney general OF New York to get
information concerning the German
propaganda system. Senator Reed
demanded that the committee in
struct the witness to answer.
Becker asked the senator if he de-
sired to have information on mat
ters relating to his client, Mr..
Hearst" whereupon Senator Reed
told the committee that Mr.. Becker's
reply had been framed in an insolent
manner and denied that he was ap-
pearing for Mr.. Hearst.
You don't mean to say that Mr..
Hearst is my client" asked Senator
Reed.
i beg your pardon" said Mr..
Becker.
''You need not beg my pardon"
Senator Reed retorted. Your an
swer is what your testimony has been
all through this case, and it does not
reflect on your veracity. I am here
in the interest of trying to develop
some truth through a maze OF testi-
mony that has been distorted"
Mr.. Becker based his refusal to an Il
swer the question on the ground that
1t was secret service work and Sec
recy was essential to its success. He
said that he had known that the
Hearst forces" had been trying for
six months to find out the names Of
the men making the investigation
and they haven't found out yet
which shows we have a pretty good
secret service
Major Humes, who has been con-
ducting the investigation, objected to|
Senator Reeds questioning, and Sem
The Fargo forum and daily republican., 1918-12-21
Tragedy Not Joy May
Mark Christmas Day In
Many Homes In Fargo

Christmas this year promises TO be
a tragedy in many homes in Fargo,
instead of "the gladdest day OF ali the
year" unless some concerted action
is taken by many good hearted peo-
pie. to relieve deplorable situation.
There are always the usual charity
cases that need help, but this year an
UNUSUAL condition exists. There have
been a great many cases OF influenza
in Fargo. That means that many
heads Of families, the wage earners
have vebeenincapitated many days from
work. There are scores of cases
where fathers and mothers have been
totally unable ito make any prepara-
tion for the usual Christmas celebra-
tion, both on account OF lack of funds
and by reason OF weakened health
from the epidemic. Many entire
families have been Ill at one time
Santa Claus Will not visit many
homes he has always visited unless
we neighboTs give him q helping
hand. BY one similar early expert
ence ] know how utterly melancholy
a presentless Christmas is to the lit
tie folks. ..f... @'..
It is not a case of charity this year,
but a situation in which every fami-
ly that has retained It's health and
financial income should act the part
of old st. Nicholas by proxy, to some
OF your neighboring friends that have
reen prostrated by the flu. If each
society could search out such afflict-
ed families and in q tactful. gracious
way provide the inexpensive gifts
that would otherwise be lacking, a
The Fargo forum and daily republican., 1918-12-21
Christmas Roll
Call Is Making
Great Progress

A telegram received this morning
by N. G. Young, director of the Red
Cross in North Dakota, says 5000, 900
people in the United States have so
far responded to the roll Call, and
that the states of New York, Ohio,
Pennsylvania and Missouri are ap-
parently in the lead.
"New York city is making a spIen-
did record, and never has appeared SO
enthusiastic" says Geo. e. Scott, the
campaign manager In his letter 70
Judge Young. st. Louis sends in a
wonderful report, while San Francis
co, Seattle, and other coast cities, are
up and doing.
"We should go strong during the
last days, and make a real Red Cross
racord.n