davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1919-04-17
The Dollar in Foreign Exchange

The principal foreign exchanges dis
played a slightly easier tone yesterday
in dull market. Both sterling and
francs closed fractonally lower. Ital-
ian lire eased off on increased offer
ings, while the neutral exchanges were
fairly steady.
Closing rates yesterday, compared
with a week ago, follow:
New-York tribune., 1919-04-17
Maturity

The Federal Reserve Bank Of New
York has put in force the following
schedule Of rediscount rates which
apply to bankers acceptances: Maturi
ties up to Is days, per cent: 16 to so
days, inclusive, Az per cent; 81 to
80 days, inclusive, Az per cent.
New-York tribune., 1919-04-17
Wea1th-Ma ark ets-lnVestm $ TIM G nts
Finance Economics

Warburg was one Of the first to
suggest this idea. Leopold Fred
rick, in a statement printed yes
terday, points out that these have
existed in England, Belgium, Ger
many and Switzerland for gen
Grafton. The advantage to the
American investor is, first, that his
investment is greatly diversified,
and, second, that the securities held
are picked by experts who can give
their entire time to selection and
investigation. Mr.. Friedrich thinks
that the Victory loan will be suf-
ficiently absorbed by spring of the
coming year to warrant the forma-
tion of such a trust.
With the dollar at premium in
all the great European countries,
the purchase of foreign owned
securities by Americans will net an
extra profit to two persons, the
European seller and the American
buyer. Which Of the two derives
the profit, or the main part of the
profit, will depend largely on the
kind of security bought. Say the
average premium on the dollar, in
terms Of the French franc, is 10 per
cent, and that a Frenchman has
Steel common shares he wants to
sell here. If the quotation on Steel
common at the time of sale is 100
the Frencksnan will be able to get
that in this market. When he draws
for the money he will be able to
cash his New York claim for 500 at
$110 in French money.
But if the Frenchman own Euro
pean and not American securities
and wishes to sell them here, he will
rot be able to obtain premium.
For the American purchaser can
buy the security at it's quotation in
the French market. If the stock or
bond of the foreign company is sell
ing in France for the par equiva-
lent in francs of 500 the Ameri-
can purchasers remittance of that
amount of francs will cost him only
$50. The main beneficiary of the
transaction in either case will de-
pend upon which side of the water
the greatest market for the stock
ID on. That is something which in
terests the parties to a particular
transaction. What is important for
the whole country is that an excep-
tional pecuniary incentive now ex-
lists for us to buy securities from
Europe and for Europe to sell Sc
curities to us. That incentive re-
sides in the transaction itself, en-
tlrely apart from its effect in main
tanning our export trade.
New-York tribune., 1919-04-17

London Money Market.-LONDON,
April 16.-Closing: Bar silver, 4s 15-16d
per ounce. Money, 3% per cent. Dis
count rates: Short and three months
bills, 3Fs per cent. Gold premiums at
Lisbon, $500.
New-York tribune., 1919-04-17
Money, Credit and Exchange

bank bills.oA @4H A@41a 5h@4A
For delivery within thirty days:
Per cent.
Eligible member banks. ...... 41y
Eligible non-member banks ..... AZ
Ineligible bank bills 6
New-York tribune., 1919-04-17
Di vid end S

Vacuum Oil Communicates dividend
of per cent In addition to regular SENT
annual dividend of per cent. both pay
New-York tribune., 1919-04-17

Bank of Germany.-BERLIN, via
London, April 16-The statement Of
the Imperial Bank Of Germany, issued
April 7, shows the following changes
in marks:
New-York tribune., 1919-04-17
Studebaker'S Position

According to Hayden, Stone g. Co..
the trade position of the Studebaker
Corporation furnishes an excellent
barometer of the strong position of the
automobile industry as whole "Stude-
baker at present." the firm says, "has
forward orders that will absorb
of its plant into July. The com.
nany has been obliged to refuse
delivery of any additional cars until
the middle Of July. For the past two
weeks production has been running at
the rate of 4,200 cars per month, or,
say, 80 900 per annum. Production dur
ing the quarter to March 81 amounted
to $500 cars, so that. practically speak
about $4,000 cars in the nine months
from April l to December 81, and a total
of $500 cars in the first quarter, total
for the year of about 43, 900 cars"
New-York tribune., 1919-04-17
Impressive Ruyiup

"The buying Of the steel shares con-
tinues to be as impressive as ever"
sad e. W. Wagner e. Co. yesterday
1T Is lntmatcd that United States Steel
is being quietly absorbed by rlultimill-
lonaires with huge incomes who be-
lleve that several years hence, when
war taxes have been greatly reduced
they will be able to sell at consider
able profit. If true, the floating sup
ply of United States Steel viii be so
reduced when q general demand sets in
tor the shares we will likely see a trc-
mendous advance. We are in a market
surrounded by unprecedented condi-
tons and which is extremely difficult
to analyze. The conclusion is forced
however, that constructive operations.
II not ,overdone, will result in very con-
siderable profits"
New-York tribune., 1919-04-17
tomorrow.

"The Iron Age" reported yester-
day that "producers are doing little
new business" that for this bust
ness they "are getting in nearly all
cases the prices named at Washing
ton on March 2O," and that the
"scale of operations is gradually de-
clining," the Steel Corporations
plants in the Chicago district now
working at "a per cent of capacity,
against 80 per cent in the previous
week. After the close of the market
the Republic Iron and Steel Com
rany reported earnings on it's COM
mon stock for the first three months
of the present year at $2.26 a share,
compared with $3.50 share a year
ago. Such earnings will doubtless
be taken as one indication of the
Steel Corporations profits to be re-
ported at the end of the month.
New-York tribune., 1919-04-17

Europe is running into our debt
to the extent of several hundred
million dollars month. If we
would maintain our export trade
we must give Europe the means of
payment. The most businesslike
way of doing this privately is by
the purchase of European securi-
ties. But American investors are
not educated to foreign securities.
1t will take them years to acquire
the habit. The need is immediate.
For this reason f1nanciers here have
advocated the formation of Gin
vestment trusts holding COM
panies for foreign securities. Paul
New-York tribune., 1919-04-17

Silvcr.-London, 484sd, an increase of
70; New York. 1o1Ac, unchanged;
mexican dollars. 77hc, unchanged.
New-York tribune., 1919-04-17

lawyers Tor The Western Pacific
stated yesterday that in the event
either the railroad administration or
the company refused to accept the de-
cision Of the board of referees ap-
pointed by the Interstate Commerce
Commission the questions at issue
would then be taken to the Court of
Claims provided for under tie Federal
control act.
New-York tribune., 1919-04-17

Sub, Treasury. - The Sub-Trcasury
gained Sl,5sS,ooo from the banks on
New-York tribune., 1919-04-17

The ruling rates for money Yesterday.
compared with q year ago. were as
follows:
New-York tribune., 1919-04-17

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., 1919-04-17


623.5O0
235.s8s
2i7,2OO
02,7OO
40. | ii
35,17G
1892
26.Oo7
$4,000
The Birmingham age-herald., 1919-05-04
Angry Organist's Note

From the Chicago Herald
 The old pensioner who blew the bellows for the organ had q most exasperatins failing. In spite of frequent admonitions, he would continue blowing after the mu- sic had stopped, thereby producing most undesirable sounds.
 One day the ofganist could stand it no longer. The congregation had been set tittering by the old mans forgetfulness, and during the sermon the organist seized the opportunity to write him note on the matter and handed it to choil boy to deliver.
 Misunderstanding the widespread direc- tions, the lad handed the note straight up to the vicar. who astoundedly read the following;
 Will you stop when I tell you? Peo- pie come here to listen to my music, and not to your horrible noise"
 
 A Belgian woman SS years old, the Widow Tack, has been decorated with the Leopold Order of King Albert for her courage in remaining throughout the wal in her home near the firing line and car ing for and heartening the soldiers.
The Birmingham age-herald., 1919-05-04

Camping, like many other good things in this world, costs something Is your troop going to earn the money for the week or two weeks or more in camp? We hope so. There is nothing like working for thing to make 1t thoroughly en- Joyable when you get it. Now is the time for you to start earning that money for camp, as it is none too early to get to work so that the necessary funds may be ready when the time comes. No real scout will be content to let father and mother pay his way. A scout is re- sourceful and he will find a way to earn his own money. He is thrifty and knows how to save what he has earned and the end is worth any amount of effort and self denial and "stick-to-it-ive-ness. The camps the thing for every scout
The Birmingham age-herald., 1919-05-04

DRUM STICKS The following Scouts have failed to
The Birmingham age-herald., 1919-05-04
CAMP ANDREWS

The great camp starts the Saturday after school closes and will run for three weeks only. Only registered scouts in good standing will be permitted to at tend camp. The camp fee will be s5 a week and must be paid at the time you register for camp. Pick out the week you desire to spend at Camp Andrews then come to scout office and register for that week, so that reservations will be made for you. A baseball game between Acton is scheduled for the first week; a contest in swimming is also planned and many other interesting games are in store for all
The Birmingham age-herald., 1919-05-04
TOP O. THE MORNING.

Smell of the woods in the morning;
 The sun shines gold through the trees, And the heavens are filled with music
 From the lips of the wide-eyed breeze. And who's for a plunge in the water, A swim in the laughing lake? Be quick, There is breakfast to follow
 And there still is the fire to make. I'm in, What splash Are you ready?
 Who. who would lie lazy asleep When all of the wide world is calling
 With the lure of the lake blue and
 deep?
 So come, that's the stuff, all together,
 Swim, swim with a stroke true and
 straight
 To the boat and the first back the win ner-
 Great ginger! But swimming is great. The first back. the first one to breakfast Then the trail once again and the fun The day lies alluring before us, And the morning is only begun, From Boys Life for May.
The Birmingham age-herald., 1919-05-04

Troop 2s.-silor Eddens met With us
The Birmingham age-herald., 1919-05-04
sI M1sS NA Dun w1ou z

turn in their drum sticks to Scout office and are requested to do so at once Neal Collins, ?; Merrell Prince, George Man dy. II. Asher Bfagan, Cecil Harris, Theo Bailey, James Wright. F: Frank ] .nNs, Is: Howell Hulsey. Frank Waldhurst. Louis Blackwell Bill Fruitticher. Hund- lev Thompson. 16; James Dilard. l9; Marvin James. IS; Jack Cooper, Glenn Sturgess. Fred Almgren, 20; Bryan Chan eey, Edmon Andrews, Ray Perry, Bert Godbold, 21: Leon Holcombe. Owen For tina %; Blair Sigmon, IS, and Hollis Pen hallegin, 30.
The Birmingham age-herald., 1919-05-04

Squeeze the juice of two lemons into a bottle containing three ounces of orchard white, shake well, and you have a quarter pint of the best frecAe and tan lotion, and com plexion beautifier, at very, very small cost.
 Your grocer has the lemons and any drug store or toilet counter will supply three ounces of orchard white for few cents. Massage this sweetly fragrant lotion into the face, neck, arms and hands each day and see how freckles and blemishes disappear and how clear, soft and rosy-white the skin becomes. Yes! It is harmless and never irfitates.
The Birmingham age-herald., 1919-05-04
THE TRAVEL OF TROOP 10

| Samuel Scalco, chairman of the travel 1 tour of Troop 10, has the following re- port: That Troop 10 has hiked clear from Birmingham to Pasadena. Calif, covering the distance in one month and haif, and we did not go direct to Pasadena. Calf, but we went to New York city first. Here is the route we took: Let Birmingham, went to New York, then cross country to Pasadena, passing through littsDurg, Chicago. Cleveland, Detroit Salt Lake City and all the large cities of the north and west As each city was passed q Scout gave lecture on that city. Now here is the way we got the literature or pamphlets concerning their city. We al most got a trainload of it. We learned as much by-takihg this travel as we dld all our lives in school, geographically.
 We challenged all the troops of the city to beat us around the world. We seemed to have the other troops very tar behind us. To make it more exciting MT. Wester promised the troop that gets ter Pasadena, Calf, first gets box of oranges Naturally Troop 10 wins the box.
 We passed Pasadena and are now walking on the bottom of the Pacihc ocean. We have on our diving suits ana the sharks and fish are very much be- widered at the great speed we are maK- ing No one recognizes 'is because we are going too fast. Now what troop IS following? We have not heard of one that could keep up with us. Our n--t stop is Honolulu, Hawaii.
 We cannot tell you what we are gong to see because are Scouts and Scout must obey laws, although We feel great emotions. Robert Scalco is going to give us a lecture on that place and if we start anything please do not blame us poor Scouts. as we will try very hard rot to do the ''hulu-hulu" dance.
The Birmingham age-herald., 1919-05-04
NEWS OF THE BOY SCOUTS

to take the soldiers to private homes. where they are to get breakfast. The scout will then report back to scout headquarters at the Southern club, Twen- tietn street entrance. Have the three scouts whom you select to go on this special duty report 10 scout office Jeff ferson County Gank building. at o'clock the day before the parade. These scouts will be excused from school
The Birmingham age-herald., 1919-05-04
NOTICE FOR sCoUTMAsTERs

Every Scoutmaster is requested to turn into the Scout office before Tuesday, May $, the names of three scouts who will report for duty the day before the parade and also go on duty the day of the parade. These scouts will be on spe- cial duty to act as messengers. and are
The Birmingham age-herald., 1919-05-04
INSTRUCTIONS FOR PARADE

All scoutmasters and scouts who can go on duty the day of the parade are to be at Wilson Capitol park promptly at 1;;D the morning of the parade, in uniform. Scouts who wear leather leg gings or camouflaged with decorations, other than scout enlblems cannot go on duty and will be sent home. As for eats, eats for two meals will be served all scouts who go on duty for the entire day. You are to get your breakfast at home.
The Birmingham age-herald., 1919-05-04

Friday night for the purpose of organ iZins two new troops in Woodlawn. Troop 9 has grown rapidly. so rapidly that it was necessary to organize some more troops. Scoutmasters have been secured and an boys of Woodlawn who wish to join can do so by finding out where the II Oops meet
The Birmingham age-herald., 1919-05-04
TROOP NEWS

Troop 10 held their regular ineeting
 Sunday, April 27, 1919 The beauty O.
 this meeting was that no scoutmaster
 nor assistant scoutmasters were present
 The scoutmaster was out of town anu
 the assistant scoutmasters. Samuei
 Scalco and Edward Staley, were III
 Brookside, while the other assistant
 scoutmaster was sick in bed. The presi- dent, Vincent Scalco carried on the
 meeting just as if they were present The boys had some surprise for the or ficials when they returned. That was a model meeting. Assistant Scoutmasters Edward Staley and Samuel Scalco went to Brookside, and they started troop out there, with Mir Louis Letanosky as ! scoutmaster and with about 70 boys as Scouts. They will have meeting sun | day. The regular programme was car ried out by Troop 10 Friday night ol each week is drill night, a part or our I regular programme. We are practclns 1 a play that we intend to give next week. which will be for fathers and mothers. This play is given to show the mothers and fathers what scouting really is and also to draw them closer to the doingS | of the troop. There is nothing lilN the backing up of the mothers and fathers of the boys.
 Troop 29.-Silor Eddens met With us
The Birmingham age-herald., 1919-05-04
ORDERS FOR PARADE

As the date is uncertain. you are to watch the papers for the exact date. and keep in touch with scout office for further instructions.
The Birmingham age-herald., 1919-05-04
SECOND-CLASS TESTS

No second-class examinations will be given next week on account of the big celebration. Be prepared to take them the following week.
The sun., 1919-04-11
CLERGY TO RALLY
FOR VICTORY LOAN
Thousands viii Assemble in
>Aeoliun Hall To-day.

thousand clergymen. representing all
denominations in the city. viii discuss
plans for the Victory Loan campaign In
the churches at rally to be held In
Aeolian Hall, West Forty-second street.
at 2 o'clock this afternoon. Abram j.
Elkus, formerly Ambassador TO Turkey,
will be the principal speaker. and Guy
Emerson, publicity director for the Sec
ond Federal Reserve district. will be
chairman.
Short talks Will be made by Major
Guy T. Visltniskki, formerly editor of
the Stars and Stripes, the weekly news
paper published by the American Ex-
peditionary Force. and by Max Rosen-
wald. Prior to the meeting the new
Government war film, The Price OF
Peace" will be shown. A musical pro-
gramme has been arranged by Gustave
Freeman, in which Francesca Marni, 30
prano; Sascha Fidelman, violinist, and
Marie and Samuel Margolis will appear.
The loan drive machinery In this dis
trict will be started officially next Tues
day evening, when approximately 1000
chairmen of the various districts and
sub-districts will hold rally In the
Metropolitan Opera House. There will
be speeches by Carter Glass. Secretary
of the Treasury; Rear Admiral Sims
and Benjamin Strong. governor Of the
Second Federal Reserve Bank of New
York and chairman of the loan COM
mittee.
The sun., 1919-04-11
Soviet Republic are written into its con-

Soviet Republic are written into its con-
stitution.
The document states that 1t IA the
duty of the workers:
ITO fight everywhere and without
sparing their strength for the complete
power OF the working classes, and to
stamp out all attempts to restore the
dominion of the despoilers and OPP
pressors.'"
I'VE are thus brought face TO face
with the proposition of admitting to the
society OF nations by recognition de
facto government which has written into
Its constitution the duty OF stimulating,
encouraging and assisting revolutions in
all countries OF the world. The mere
statement of such a proposition would
of itself seem sufficient to render the
recognition of me Russian Soviet Repub-
lie impossible.
Your committee therefore suggests
the necessity Of considering what effect
the recognition of the Russian Soviet
Republic would have upon the people
and the Government of the United
States.
Bernstorff's Example n Warning.
Agents OF the Soviet Republic would
OF necessity he received officially in this
country and be protected In their activi-
ties by diplomatic custom and interna-
tional law. The use OF the diplomatic
service by the Imperial German Gov
eminent in working against the inter-
este OF the United States at a time when
II was supposedly friendly Power is
an indication OF what may be expected
from a representative OF a Government
which is committed to the policy of
stimulating revolution in the country TO
which he Ii accredited"
THE presence in this country of the
mission heretofore referred to makes us
inquire whether Il is possible that the
Russian Soviet Republic can have re-
ceived encouragement with respect of
recognition which has warranted their
establishing n bureau here. 1t Is hardly
conceivable that such mission would
have been sent unless such encourage
ment had been received.
while the power to recognize a new
Government appears to be vested in the
Executive branch OF our Government. q
doubt has been present in the minds OF
our Presidents as TO the safety of rely
ing upon their judgment In recognizing
a new State when the consequences OF
such an act involve delicate international
questions In the case OF the recogni-
ton by the United States of the Span.
ish American republics Of Texas Hayt!
| and Liberia, the then Presidents before
recognizing the new States invoked the
Judgment and cooperation OF Congress
I'm none of the instances cited were
| the questions OF international policy SC
delicate. nor were they fraught with sc
great consequences to the people and
| the institutions OF the United States, as
, the one presented by the threatened sit
| uation.
I'VE therefore feel that should the
Executive OF the United States be con-
WINGED that a recognition OF the Soviet
Republic is necessary before exercising
his prerogative he should consult with
and obtain the advice OF Congress as
the representatives of the people Of the
United States. whose vital interests wouit
be seriously affected by such an act"
The sun., 1919-04-11
GEN. SCOTT WILL BE RETIRED
Hale, shelton and Cole to Take
Part in 26th's Parade.

WASHINGTON, April lO.-Major- Gen.
Hugh l.. Scott, formerly Chief OF Staff,
was relieved to-day of command OF
Camp Dix. y. j., effective upon the ar
rival there of Brig Gen. Harry c. Hale,
his successor. He was ordered TO pro-
coed to his home for return to the retired
list Of the army. from which he was re-
called for war service.
Brig Gen. Hale. George II. Shelton
and Charles II. Cole were ordered to re-
port to the headquarters of the North
eastern Department at Boston for tenn
porary duty in connection with the
parade Of the Twenty-sixth Division.
Gen, Hale came home from France as
commander OF the Twenty-sixth and
with the temporary rank of Major-Gen-
eral. lie has resumed his regular rank
ms Brigadier and the division on parade
is expected TO be under it's old cons
mander, Major-Gen. Clarence r. Ed
wards, now commanding the Northeast
ern Department.