davidaulloa/AmericanStories huggingface dataset:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-01-04
N. Y. Central Signs
Railroad Contract
Annual Rental for Road l.
Fixed at S9O.OOO.OOO

William G. McAdoo. as one of the
last acts of his career as Director
General of Railroads, yesterday at
tached his signature to the contract to
be put into effect between the Rail
road Administration and the New York
Central Railroad system The amount
OF annual compensation, fixed at 500
100000, is far greater than that Of
any other company which has signed
ITS contract with the government.
For the New York Central proper
the annual compensation was fixed at
500 l22 .0S4. The annual rental of the
subsidiaries was fixed at $685. 1888 for
the Cleveland, Cincinnati, Chicago e.
st. Louis and the Muncie Belt Rail
road; o,299 for the Pittsburg G.
Lake Erie; $3l762S for the Cincinnati
Northern; 100000 for the Indiana Har-
Dor Belt Railroad; SS.105, 600 for the
Chicago. kalamazoo 4 Saginaw Rail
road and the Michigan Central; S1,54S.
900 for the Lake Erie & Western;
$4,000 for the Lake Erie & Eastern
and $1S6,460 for the Detroit Terminal
Railroad
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-01-04
Relevant Comment
Mexican pete at New High

In the sensational trading yesterday
in the oil shares on the Stock Exchange
Mexican Petroleum advanced to the
new high record price of 1914 before
reaction set in which carried the
stock back at the close to 100, a net
gain of q. The big jump was at
tributcd to the report that Alberta J.
PAM, formerly Mexican Secretary o.
Industry and Commerce. had admitted
the basic claims of American interests
N Mexico regarding the pending legis-
lation in the Mexican Congress. IN
formation obtained later in the day in
dicated a satisfactory arrangement by
which the American and other foreign
interests may operate their properties
in the southern republic
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-01-04
Redfeld Would
Leave Financing
OF Trade to Banks
Not Business Of Government,
but of Private Initiative to
Fund Nations Foreign
Commerce, Secretary Says

William C. Redheld, Secretary Of
Commerce, who was in the city yes
terday on departmental matters, told
The Tribune that he regarded the task
OF financing Americas new foreign
trade as the job Of the bankers exclu-
sively.
lie made this statement in reply to
an inquiry as to whether he thought
the government ought to participate
in the supplying of the finances for
foreign commerce. THE Department o
Commerce." he declared, "has no spe-
clal ideas on this subject, as it is not
its business, but the job of the bank
ers. My own attitude is only one of
hearty approval for any plans ade-
quatcly to finance our growing trade
Mr.. Redticld, who was seen at his
suite at the Hotel Belmont, was asked
whether the commercial men Of the
country had shown approval of his re
cent pleas for idealism in trade, par
ticularly while the war-ridden coun-
tries of Europe are preoccupicd in the
processes of reconstruction.
"Thc business men and bankers of
the country" the Secretary said "havc
quite generally expressed hearty ac-
cord. Only here and there were there
a few dissenters to the idea of for
elgn trade based upon service. but they
were the people who have not yet
grown up"
The Cabinet officer expressed conf
dence that the trade and industrial
leaders of the country would aid to
translate into the fields of commerce
the ideals for which the nation battled
in the war. "The ideals for which
Americas sons have been fighting"
he said, "will be perpetuatcd in our
foreign trade by the operation Of eco
nOmjc law"
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-01-04
all Street Items

A. E. Cliff has been appointed gen
eral manager of the Illinois Central
Railroad Company, succeeding T. j.
Foley.
f. w. Loudon has been admitted to
the New York Stock Exchange firm of
Wood, Struthers & Co.
L. X. Wilmerding has become a
special partner in the firm of Gray &
Wilmerding.
David Freiberger, secretary of Jose
Bcnsaude, jr., Inc, of New York, is
leaving this morning on the Maure-
tania on his way to Portugal for the
purpose of studying the conditions in
Portugal with regard to the after-war
business and eventually to close i'm
portant contracts.
Total resources Of s775 ,493 ,531.25 are
shown by the financial statement of the
Guaranty Trust Company of New York
as of December 81, 1918, which has Just
been issued. Deposits on that date
totalled $3.50, ,091 .46. Comparison
of these figures with those Of December
81, 1917, shows an increase of STA
748,235.21 in resources and Of S49,-
504, 1886 in deposits.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-01-04
Large Telephone
Financing Impends
Sells S25, 100000 of Bonds TO
Bankers and Will Refund
S4O,OOO,OOO Notes

In addition to the completion of
plans for refunding the $4,000, 900
subsidiary company one-year per
cent notes of the American Telephone
and Telegraph Company. which mature
February i, official announcement was
made yesterday that IN issue of S25.-
100000 thirty-year per cent deben-
lures of the New York Telephone
Company had been sold to syndicate
Of bankers consisting of J. P. Morgan
Co., Kidder, Peabody & Co.. Kuhn,
Loeb e. Co., the First National Bank,
The National City Company, Harris,
Forbes & Co. and Lee, Higginson & Co..
A statement issued by Theodore N.
Vail, president OF the parent corpor-
elton, said:
''The American Telephone AID Tele-
graph Company has just completed ar
engagements for the sale to a group of
banks and bankers of $4,000, 900
American Telephone and Telegraph
Company five-yeaf per cent notes,
issued to refund the indebtedness ma
turing on February / next; also of
f.-o,VOV'"CV unity ) Cul y per ScllI uc-
bentures Of the New YORK Telephone
Company
"These latter arc being sold to pro-
vide funds to liqudate the indebted
ness heretofore incurred for the pur-
pose OF construction work done on the
property of Che New York Telephone
Company. By means of this financing
a large part Of the total cash require
mcnts Of the American Telephone and
Telegraph Company and its subs di-
aries will have been provided for
J. ?. Morgan & Co. announced shat
a public offering of the new securities
viii be MADE within the next few days
by the syndicate of which they arc the
head.
Despite the handicap of poor wire
service in the West on account of
heavy storms the syndicate which Of
fered yesterday the $25, 100000 Series
a. ten-ycar bonds of the Anaconda
Copper Company at GSh announced Il
heavy transcription OF the Offering
1t the close Of business.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-01-04
New Anaconda Bonds at Premium

The recent reduction in the Ana
conda Copper dividend from IS to Sc a
share assumes deeper significance
now that the company has added to its
interest bearing obligations in the
form of the s25,o0o,O00 thirty-ycar 6
per cent bonds sold to investors yes
tcrday. BY comparing the annual in
terest requirement on the bonds and
the dividend cut, it is found that they
10th aggregate $1,500,00O. In other
words, what the stockholde will lose
the bondholders will gain. the dis
bursements of the company remaining
unchanged from what they have been
since the dividend rate was raised to
81 share. In yesterdays trading on
the Broad Street curb market the new
Anaconda bonds sold at premium of
Il above the Offering price of 9Sh
Some sales were made at 9Sis, with the
close at 9S4.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-01-04

mere seems almost universal en-
recitation OF great 1ail IN prices
big business Is s'asnaVlhs because
o1 IT, NO one wants 10 ioaa up until
prices come down. But cohsloef one
lolnt. ASK one speclailst ana o"s'-
ness expert a1'er ano'ner' ana espe-
ciiily as TO ms own heIa' ana "a'ch
MS reply II you VIII 20 'n'ousi'
inc llSS you "lll ma "e'ihiSh u'''-
Nersi'' accord 1Aat:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-01-04
Distillers' Pool Active Again

Pool activity was seen in Distillers
Securities yesterday, when the stock
sold up to 521a and closed at 52A
with net advance Of Il points. At
the current selling level the stock has
more than made up the SO quarterly
dividend which was marked off On
Thursday The companys per cent
bonds were also strong, selling up to
o0H. The announcement that the com
pany is planning TO form an export
company to handle the sale of some Of
its products was commented upon as a
favorable development
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-01-04
ANDREW J. MCCORMACK. Auctionc
REGULAR AUCTION SALE
STOCKS AND BONDS.
BY ADRIAN H. MULLER & son
OFFICE. So WILLIAM ST.
WEDNESDAY JAN'y STH. 1919


EXCHANGE SALESROOM.
NOS. IA AND Is VESEY STREET
For Account OF Administrator:
- shs- American Trading Co prefd
10 shs. American Trading Co. common
Tor Account OF Whom 1T May Concern
$4,000 San Antonio Land & Irrigation
60. Ltd. LIST Mtge. 12-year GO
BIDS, due May, 1928
sl'Vo0 oregon Short Line r. r. LIST Mtge
$1,000 oregon short Line r. r. Refundins
40 BID, 1929
$1,000 Gsntral Pacific n. R list Refdg. 40
$1,000 Central Pacific r. r. Short Line lst
g, ann AMtsee- 40 Bd.. 1854.
sl'Voo ST. 800 Louis Transit Co Impt. SO BID.
80 shs West Virginia Consolidated oil
24-s5 Part of Bond & Mortgage for the
gage is a lien upon 11s acres more
az less N c, Ton Of Huntington.
westerly side of Centerport Harbor
$4,000 Metropolitan By-Products Corpn'
$4,000 CO. EAST b'S ( Lakes CONTRACTING co--n
10 shs Coast Lakes Contracting
S6,416.67 Detroit. Toledo &, Ironton R.usx,
~ All Mge. BIDS
% shs Detroit. Toledo & Ironton Ry.
So shs Detroit, Toledo & Ironton Nv
common.
2Sl shs: Coast & Lakes Contracting
10 shs. Coast & Lakes Contracting
Corpn. common
~ 81 0oo Rivers 6. Harbors Impt ses Notes.
5000 Metropolitan By-Products Corpn.
60 BIDS. f
Co. prefd
80 shs knickerboclser wyoming OIL
10 100 shs b & r Corporation of y. J.
-9o sns. Hartford Grand Theatre
,S o0 shs. Market G. Beaver Realty CO.
900 shs Max Spiegel 81" E fii,S@l go.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-01-04

Commercial failures in the United
States in 1918 numbered 1882. invol
wing total liabilities of S163,019. 979,
according to the compilation made by
R. G. Dun & Co. This was the best
record since 1899 and compared with
1885 failures last year for an aggre-
gate of $182,44l 37l. The decline in
the number Of defaults last year was
progressive, Improvement appearing
in each quarter, and the returns for the
last quarter, with only 1913 failures,
were particularly favorable.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-01-04
"A Growing Industry

Raising ranch bred black foxes has
become a profitable industry in many
parts of Canada. The idea originated
several years ago at Prince Edward
Island. The number of foxes on the
ranches there now for breeding pur-
that $500 were killed last year for
their fur. According to the American
consul at Prince Edward Island. Jap
anese and Norwegian operators are
entering the fox-breeding industry,
buying their stock in Canada.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-01-04
Commodities
In d us tri al
Cotton

The cotton market was lower and un-
settled again yesterday. An early dc
cline was followed by rather sharp
rallies on covering and trade buying,
but offerings increased in the later
trading and prices made new low
ground, closing barely steady at a net
loss of rs to rs points. A few addi-
tional January notices were issued, and
reports that cotton was coming here
for delivery on contract may have in
lost only points of its premium over
March, however, and the decline was
more generally attributed to liquida-
ton of long lines, purchased in antici-
patton Of more rapid expansion in
trade demand
The market opened barely steady at
a decline of 16 to 40 points, and sold
about 45 20 So points net lower right
after the call under a renewal Of
Thursdays selling movement and
scattering liquidation, which probably
reflected disappo over the show
ing of Liverpool Offerings subsidized
at the decline, which carried March
contracts about 100 points under the
high level Of Monday, and there were
rallies of some 80 to 45 points during
The middle of the day, with March
selling up 27S4, or within II points of
Thursdays close. This bulge brought
about a renewal of scattering liquida
ton, while there was also Southern
selling late in the afternoon particular
ly from New Orleans. Closing prices
were at the low point of the day, with
March at 27.25. compared with 29.10,
the low point of last week
Reports that Washington had
authorized a reduction Of nearly 81 per
hundred pounds. in the ocean freight
rate from all Southern ports to Liver
pool probably helped the rally during
the middle of the day There seemed to
be little or no change in the news
reaching here from Southern spot
markets, and trade interests were
moderate buyers on scale down. New
Orleans was very weak in the late
which may possibly have been against
increased offerings from the interior.
Southern spot markets as officially re-
ported were unchanged to rs points
lower, with quotations for middling
ranging from 1926 to 31.25. Exports
for the day were 1896 bales.
The local market for spot cotton was
quiet and rs points lower at 3165
for middliAg upland, compared with
$3.50 the day before and 31.75 the
year before.
The range of prices follow:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-01-04
Corn Products at New High

Corn products refining stock has the
ion every time President E. c. Bedford
issues a denial of reports affecting
favorably the stock. While he said
yesterday that the company had no
intention OF retiring the preferred
from cash resources a buying move
ment was under way which carried the
price Of the stock up to the new high
record Of 505s There was net gain
OF 2as points at the closing level of
5O1o
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-01-04
Capital Investment in
Railroads $40. 543.389.57I

WASHINGTON, Jan. 3.-Capital in
vested in American railroads at the
end of 1917, when the roads were taken
over by the government, totalled S20,-
543,389, 81, the Interstate Commerce
Commission reported to-day in a pre-
urinary statistical abstract of steam
roads. The gross receipts from their
operation during the year were 1885,
S65,766, while the total expenses
Of operation were S2,357 1898, 412. This
left net railroad operating income
after certain taxes and rentals were
subtracted of 81 081, $50, 496
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-01-04

After declining to the new low rec
ord price of 2oh B. R. T. stock yester-
day showed rallying power and closed,
up IL points, at 90 The advance was
attributed largely to short covering, as
much of the recent selling is said to
have been in anticipation of further
drop. The company's per cent notes,
upon which the January interest pay
mcnt is in default, also were stronger,
closing at S47s, compared with Thurs
days last sale at so.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-01-04
A Cotton Holiday

The anniversary of the Battle of
New Orleans will be observed by the
New York Cotton Exchange, which
will be closed TO business on January
S. notice posted by the board Of
managers yesterday explained that the
action was taken in accordance with
the suggestion from the Bureau of
Markets that the New York and New
Orleans exchanges cooperate as far as
possible to obtain price uniformity.
the New Orleans market being closed
on that date.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-01-04
Other Cities

Reduction in Pacific Freights. Sc
ATTLE, Wash, Jan. "a freight rate
reduction of SIS n ton from the Pacific
Coast to Jaran was announced TO-DAY
b.. }. y. Lowman. assistant director Of
operations in this district for the
United States Shipping Beard. The
new rate will be $50 ton.
1T was also announced Ii rate Of sos
II ton to Manila would be, established
BY the Shipping Board for its steel
ships. The present rate is $40.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-01-04
Beet Sugar Up

Action of the American Beet Sugar
directors in declaring the dividends on
the common stock for the full year in
advance took the Street by surprise.
This was plainly reflected in the mar
ket movement of the stock, which ad-
vanced vigorously on the announce
ment, closing IA points up at GO. Ear
her in the daV it had sold at g.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-01-04
Gain Reported in Taxes
On Stock Transfe,

ALBANY, Jan. g. Stock transfer
tax receipts for December. Melted the
state $401 ,458, compared with S398 .525
for the corresponding month of 1917
Controller Travis announced to-dav
For the calendar year just ended 81.
069,266 was collected from this source
ard since the law was first enacted
in 1905 more than S61 600, 900 has been
returned to the states treasury.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-01-04
Traylor Heads FIRST
National of Ch;caoo

CHICAGO, Jan. Retirement Of
Emile Is. Boisot as president of the
First National Bank because of in
health and succession to that position
by Melvin A. Traylor, are announced in
connection with the annual report of
the bank, made public to-day. Mr.
Traylor leaves the presidency Of the
Live Stock Exchange National Bank to
accept the new place.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-01-04
FINANCIAL MEETINGS

NOTICE is HEREBY GIVEN THAT THE
annual meeting of the stockholders of The
Realty Mercantile Credit Association VIII be
held at the Office Of the Company. No So
West 42nd Street. Borough Of Manhattan,
city Of New York. on Saturday. the 18th
day of January, 1919. at II O'Clock noon. for
the purpose OF electing I'VE directors for the
ensuing year and for the transaction of
such other business may properly come
before said meeting. The polls will remain
open for ono hour.
Dated, New York City. \. y January
ith, 1919.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-01-04

Southern spot markets follow: Gal
weston quiet, 30 points lower at 1925;
sales, so bales. New Orleans. quiet.
unchanged at 1915; sales. 1877 bales
Mobile nominal, 25 points lower at
1926; sales, 81 bales. Savannah nom
inal. unchanged at 31c sales, II bales
Charleston quiet, unchanged at SOC;
sales. nil Norfolk quiet. 25 points
lower at 1925: sales, 20 bales. Balti-
more nominal, unchanged at gle;
sales. nil Augusta steady. 10 points
lower at 29.75 sales, GAP bales.
Memphis steady, unchanged at 1880;
sales, $3.50 bales. st. Louis quiet. un-
changed at $3.50; sales, nil. Houston
steady, rs points lower Mt 30.65; sales,
1929 bales. Little Rock quiet, so points
lower at soc; sales. 605 bales
Week end statistics of the New York
Cotton Exchange were not available,
except the into sight, which amounted
to 36l,O2i bales for the week, against
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-01-04

\ broader inquiry developed for de-
mand sterling yesterday and the un-
dertone in this department Of the
foreign exchange market was frmer.
The general market was steady, with a
light volume of trading.
Closing rates yesterday, compared
with week ago. follow:
Quoted dollars to the pound.)
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-01-04

The only thing that could pro-
duce a great lowering in prices is a
great contraction in the purchasing
power of 100 millions of peo-
pie. The surest way to bring this
about is through fear. A great fear
can cause banks to call in loans,
The mills to shut, and millions be
thrown out of employment. 1t has
happened time and again in this
country. 1t can happen again.o Is
this what the people who are wait
ing and clamoring for lower prices
really want? This country was
rever so rich, never so flush, never
so productive as sixty days ago.
Prices in 1914 were very low So
were wages; so was business. Is this
what people want in demanding a
return to pre-war conditions" and
stable" level Of prices, meaning,
apparently, something like the 1914
level?
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-01-04
FINANCIAL MEETINGS

A MEETING OF THE STOCKHOLDERS
of SPECIAL SERVICE FLOORING COR
PoRATloN will be held AT IL o'clock.
January 18th: at 2oSs Grand Central Ter
minal. New York city. for election Of ofi-
GERS and any other business which may he
brought before meeting
SPECIAL SERVICE FLOORING CORPO-
RATION, 2O3e Grand Central Terminal
New Yorlr civ
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-01-04
is so dear

May we deduce from all this one
clear fact? If all things are too
high, then prices of everything must
fall together. We cannot have cheap
steel, and cheap copper, and cheap
corn and cheap wool, and at the
same time dear wheat, or dear cot
ten, or dear butter or high wages.
That is automatic. Does everybody
expect everything to come down,
including the vast volume of bank
credits?
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-01-04
Money and Credit

Money rates were firmly maintained
in the local market yesterday. 1T the
Stock Exchange call loans ruled at to
6i2 per cent, unchanged from Thurs
day.
Offerings of fixed date funds were
somewhat more liberal. The demand
has slackened temporarily.
Ruling rates for money yesterday
compared with a year ego, were as
follows:
Yesterday. Year ago.
Per cent. Per cent.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-01-04
RUSSIA TRADE CORPORATION OF
AMERICA

Notice of Special Meeting of Stockholders.
4 special meeting of the stockholders of
RUSSIA TRADE CORPORATION OF
AMERICA will be held at the office of the
Corpora ton, 6-9 Hanover Street in the
Borough of Manhattan, City of New York.
at twelve O'Clock noon. on Tuesday Jan
uary q. 1919. for the purpose of taking
action upon a proposition TO dissolve the
Company forthwith and for the transaction
of such other business may properly
come before the meeting.
Dated. December 19, 1915
c. A. MURPHY Secretary
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-01-04
News Digest
Foreign

Paris Bourse. PARIS. Jan. 3.-Trad-
ing was quiet on the Bourse to-dav
Three per cent rentcs, CT francs So cen.
LINES for cash. Exchange on London.
70 francs SO centimes. Five per cent
loan, SO francsI35 centimes
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-01-04

In plain terms, is the wars Won
derful lesson of full time employ
ment, high production and high
wages to be utterly lost because we
have moved up to a higher level of
prices, costs, wages, credits and the
standard of living?
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-01-04
THE LAWYERS SURETY COMPANY
OF NEW YORK

The annual Meeting of the stockholders
OF this company will be held al Its once
on January 7th. 1919. at ie NJ for tho
election of Direct ,rs and tho transaction az
such business as NAV come before u.
A. VAN TAMBACHT Actg, Secy.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-01-04

apply to bankers acceptarccs: Ma.
TURTLES up to 10 days. 4 PEI cent; -16 tc
90 days, inclusive, n per cent; 81 tc
80 days, inclusive. 4 - per cent.
Commercial Paper-The market fol
commercial paper is on u to SO,
per cent discount basis, with a limited
volume of bills moving.
Bank Clearings. clearings yes
terday were:
Exchanges. Balances
New York. &C.. S970,285,O 26 $90OO7 ,30s
Sub Treasury. - The Sub-Treasur,
gained $4,000 from the banks OF
Thursday.
Silyer.-London, 4S,sd., unchanged
New York. 1o1 sc, unchanged; Mexican
dollars, 7714c, unchanged.
Weekly Bank Clcarings.- banl
clearings this week at the principa
cities Of the country amounted tt
$G.I7.o .529, according to r. G.. Dur
& Co.. an increase OF POI per cent com
pared with q year ago
London Money Market LONDON
Jan. s. Closing: Money, 8 per cent
Discount rates: Short and three month
bills, 1882 per cent. Gold premiums
at Lisbon, 600.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-01-04
DIVIDEND NOTICES
INSPIRATION CONSOLIDATED COPPER co

INOF INA tON SUISoOLtOHf I'D IUFTEN %
The Directors have declared dividend OF
$500 per share. payable Monday January
81 1919. 10 stockholders of record az 8 90
o'clock p. NJ. Friday. January 10 1919
j. w. ALLEN Treasurer
New York. n. Y. December 2s 1918