davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1919-01-31
" all Street Items

Justice Ford has rendered decision
in favor Of A. B. Leach & Company,
Inc in the suit of Charles T. Brown
Tor onchalf Of the profits maze by the
banking firm in its financing Of the
Island OIL and Transport Corporation.
This IS the first decision in the legal
actions involving the Island Oil, the
Metropolitan Petroleum Corporation,
a. b. Leach & Company. Inc. and Rich
mond Lcvcring. Justice Ford dis
missed the complaint with costs
X. NJ Grant & Co.. Hornbower &
offering az prices to yield 465 per cent
ncw issue Of $4,000 Of CITY of
Bayonne per cent gold bonds due
scrially January |, 1920 to 1919.
Robert Linton has been elected prcsi-
dent of the North Butte Mining Com
pany, succeeding Thomas F. Cole, re
signed
Major Alexander p. Gray, formerly
OF the dissolved Stock Exchange firm
of Hobart & Gray. has become asso-
clatcd with the New York Stock Ex-
change firm Of L. $. Noolcv & Co.
{. B. Rickcnbaugh, of the Irving Ma
tional Bank, has been elected vice
president and general manager of the
scott Corporation. dealers in domestic
and foreign automobile accessories.
Edgar b. Davis, director Of tho plan
satlon interests of the United States
rubber Company in Sumatra. has ten
dercd his resignation as s director Of
that corporation.
John ?. Mcguire, of the Liberty Na-
uonal Bank, has been elected director
OF the Continental Guaranty Corpora
,i'n; succeeding Paul i. Fitzgerald y.
!; y; Nynegar' A. l.. McMeans and w. W.
Mounthin were also elected members
Of the board. succeeding ". Il. Joycc.
q. Mcachen and Stanley Roberts.
The coupons due August t. f9ls. on
the Kansas City and Pacific Railroad
Iompanys ilrst mortgages bonds. VIII
be PAID upon presentation at the Office
ct the agent for the receiver AZ ~
broadway. on and after January 81
New-York tribune., 1919-01-31
Hooking Valley Notes Extended

The S5,oo0,oo0 Hooking Valley note
issue. which natures tomorrow, mas
beer cXtcuds d for another month pend
ing the completion Of arrangements
with bankers for more permanen,t
refunAirg operation which will prob
ably involve the Offering OF now notes
maturing scrially III two. three and
four years. The new issue, according
to present plans, will probably amount
to $500 600. sufficient not only to meet
the maturing note obligation, but also
to provide funds to carry out certain
Improvement and bctterment plans.
Practically all the noteholdcrs have
consented to the extension Of the notes.
New-York tribune., 1919-01-31
Sugar Earnings Decline

IN" Central Augumro Sugar Com
pany reports gross earnings of S5.S95.-
9o' tor the year ended July 81 lolS.
compared with $5936.69S for the ycnr
neiorc. Net earnings were S2.060.f2S,
N,. nt.a,S. S-,o'' 'aA9 for the previous Year
dividends paid out of $1,000 900. sur
plus amounted to s7l2.'6i before war
taN"a had been deducted. which COM
p"rcs with $227 ,Ao3 for the previous
year. PREVIOUS surplus of $2.237 ,2sS
was added, making final surplus of
t'|'' ~'
New-York tribune., 1919-01-31
lransuc \ Williams Earuiu.s

Ihc report of operations Of the Tran
sue 4 Williams steel Forging Company
shows gross sales of S6.293.500 for the
year ended December 81 last. "A de-
crease of Sl5l,l71 from the previous
Year. Net earnings amounted to $3.50,
COL or $i30,iSo less than those for the
Year before. Federal taNcs totallcd
S2i5.00o. decrease Of $4,000. Net
profits aNailablc for dividends were
%7li.ool. or equal TO S5.li II share
canned ON tine 100000 shares of out
standing stock of no par value. against
net profits of SNSO,0s6, or $S 10 a shnrc
New-York tribune., 1919-01-31

Wall Street has been asked why
it has the folIy and hardihood to let
stocks go down, when in France and
England they are going up. Apolo-
eists for W all Street have answered
that tho British have suffered under
four years of war; they rcaped no
war profits as a neutral before en-
tcring the conflict, and peace Tor
England means rccupcratlon. Inc
apology was y needless as the
charge. The compilation of The
Bankers Magazine' of London of
3S7 representative securities shows
that during January they }'ccllned
an average Of 3 per colt. They
declined also an average of s per
cent in December. There has been
somewhere, as on our own exchange,
an upward movement for several
months previous to December.
New-York tribune., 1919-01-31
Conital Increase Contemplated.

1t is understood THAT the trustees oil
The Equitable Trust Company arc con.
sjdcring an increase i'll the capital
stock Of the institution. which AoW
stands =. $4,000, 900 1t is said this
will be don. IN order 10 raise the cap
ital of the company TO figure moro
consistent with its deposit line" winch
stood al S217.G2f SOP at the close o.
1918. Alvin ". Krech. president OF
the company. j. now in rance ana Is
not .ypectcd home until March'
New-York tribune., 1919-01-31
Pacific Coast Trade Good

California produced loo,ooo.ooo bar
rels. or almost onc-third Of the ceun-
try's output of crude petroleum IN l9lS.
according to the American National
Bank. OF San Francisco. In discussing
condition. in that part Of the country
the bauS says: "Rusin2ss IN meican-
tile nncs IN san Francisco IS actYe'
both retailers and iobpcrs reporting
good volume Merchants arc not hoaV-
~ stocked, and there IS tendency 10
hold or on buying orders unit the
trnnd of prices is more definitely as
.crtaincd Local shipper arc busily
amnloycd. and no serious Labor trou-
hlcs are An;icipated. Places ar" read,
,1v found Ter returning soldiers, ana
few workers are unemployed.
New-York tribune., 1919-01-31
- M q rlxets-Invest1 K TIM nts
Relevant Comment
Soon After Peace Suggested.


The suggestion has bce' made IN
banking circles that the Treasury post
pono its impending loan operation un-
ill after peace Las been officially pro
claimed. In the interval tho govern
.mcnt's needs could be covered for an
Indefinite pcriod by successive issues
Of certificates of indebtedness, II Is as
serted by those VINO believe in the
feasibility Of such programme. ne
ADVANTAGE to the government OF put
ting of the big loan until after peace
mad oficiolly arrived would be that
holders Of the outstanding rs could 31'
not convert into the ncw issue. The
4ct undcr which tho 3'4s were issued l
specifically states that the conversion
urivilo%o on this Issue expires on t'c
conclusion Of peace.
New-York tribune., 1919-01-31
Southern Banking Sentiment

Banking scnhmcns in the South
iaVois an interest rate Of per cent
on tho neNt government loan, accord
lng TO a Wall street banker, who has
lust returned from Il briof visit i'm thc
south. during which he had AN oppor-
luultN 80 exchange VlcWe with many of
tho leading financial mon below the
Mason and DIXON line. The southern
bankers also favor short maturity ON
the loan, five years or less.
New-York tribune., 1919-01-31

Fancy little Jack-in-the-b box, his
head perched upon a powerful
spring, the spring pressed down, the
I'D closed, and locked with key.
This Jack-in-the- box is more en-
chantcd than the mule in the Ger
man fairy tale You unlock the box,
the lid springs up, the head shoots
out, falls apart, and showers an
abundance of gold coin upon all
who happen to be around and awake
at the moment. This Jack-in-thc-
box is not an entity. 1t is a way Of
thinking It is the conception that
some folk have always Of the stock
market, and cannot lose. When the
market is dull and doesn't 20 UP
these folk cannot conceive that may
hap there is no elasticity left in
the spring, or that the spring is
broken, and a new ono needed.
They think Of HIM always as strain
1ne at the top Of his spring, but
being held back. They stood about
patiently for weeks, waiting for the
head to spring up, and when it
failed them, they cried aloud for
the keepers of the lock, prosaicaIIy
thc Money Committee, to open the
lid and let thc head spring forth
The Moucy Committee took the lid
entirely off, and 10 Jacks mead re
NAMED deep Within the box. ThcS
now wait for q nc~ spring to arrive
which would g1Ve a real incentive
10 advance.
New-York tribune., 1919-01-31

The average net earnings OF the
I twelve Federal Reserve banks Tor
1918 we're at the rate of 6s.7 per
cent on their paid-in capital as 1t
stood at the end of the year. That
! is doing rather we'll 1t compares
with 1879 per cent in 1917. You
cannot buy the stock in the open
market. 1t is held by the member
banks in proportion to their capital
and surplus, and they cannot trans
fer it. There is no reason why the
Federal Reserve banks should not
make money, for they lend money
to banks, who are the safest bor-
rowers to lend it to, and the banks
give them commercial paper or
acceptances of merchants, for which
the Federal Reserve bank gets m
terest, and the money that the Re
serve bank lends IS largely of its
own creating. This is not so differ
cnt from the business of other
banks. but the Federal Reserve
bznk does not have to pay interest
to its depositors. The member
banks do not get all the money that
the Reserve bank makes. They can
have 6 per cent cumulative divi-
deNds, and of the remainder, one
half can go to surplus up to 40 per
cent of paid-in capital. After that
the United States government takes
i all. and can use it either as good
reserve or to retire outstanding
United States bonds.
New-York tribune., 1919-01-31
News Digest
Foreign

Paris Bourse. PARIS Jan. so
Prices on the Bonrsc to-day were IL
regular. Three per cent ren.es were
quoted at 63 frances 10 confines; ex-
change ON London at p francs 9S cen
times and the ; per cent loan at %
francs 80 ccntimos.
New-York tribune., 1919-01-31

If the bargain hunter and the lit
tie investor are rushing into the
market to take advantage Of these
low prices, as one hears asserted IN
the Street, the odd-lot houses
haven't heard of it. They report
that investment buying is singularly
dull. What has happened, though,
is that since the first of the year
the inquiries received by them have
nearly doubled, which means that a
good many more people are begin
ming to get interested in the bargain
possibilities Of the market as 1t
goes lower, and that these people
have the money to buy. But they
hold off buying railroad stocks be-
cause they want first to know def
nitely whether the government is
Going to hold the roads or turn
them back and how and when. And
they hold off buying other securities
because the Victory Loan looms
ahead, and its coming effect on the
security markets is uncertain.
New-York tribune., 1919-01-31
The Dollar i'm Foreign EXCHANGE

Foreign exchange rates luctHatcd IN
all irregular manner in the local mar-
Ect yesterday. Swiss francs were
slightly irmcr as the result Of a
broader inquiry, while Danish crowns
developed an easier touc Rates ON
London and Paris were steady
Closing rates Sc .erday, compared
with week ago, oioN:
Quoted dollars 70 the POUND,
New-York tribune., 1919-01-31
New Work
Southern Railway Notes Takcn.-Fi-

Southern Railway Notes Takcn.-Fi-
RANGING Of the $4,000 GOO throe-year 6
yer cent notes Of tho Southern Railway
Company which mature March .. it
was stated i'm Now York banking cir
clos yesterday has been arranged by
tNc RAILROAD. administration with a
syndicate headed by IIalscy Stuart &,
Co aud the Continental Nnd Commer-
Cial Trust and Savings Bank. both Of
Chicago. Official information regard
iuo the dotdjts Of tho transaction was
Withheld at tho New York Offices Of the
Ilal4cA Stuart finn.
The fact tha. ]. T. Morgan G Go. and
group of New York banks had been
asked by John Shelton Williams to un-
dCrta',c the financing of he railroad
mpanY's march maturity was dis
closed in Il statement ISSUED by the
Morgan firm which said:
'ln the matter of the Southern Rail
way Company three year notes, which
we understand have just been sold TO a
yndicatc organized by lIalsoy Stuart
& Co.. Of Chicago, John SHELTON Will
Jams showed us cycry courtesy that we
could expect. He gave us an opportu-
nifty to submit a bid for these notes.
aud when VIC felt unable to accept II
hc gave us a further opportunity to
rev lSf VNl 'lt'l VI We SO NcoirCu, WNiCn
We felt unable 10 do"
According to information obtained in
Investment circles the Southern Rail
way notes were purchased by the Chi
cago syndicate al rs. whereas the best
bid of the New York bankers was 81
1t was also learned that several New
\ ork banking firms when asked 10 par
ticipatc with the Chicago bankers in
floating 4 now issue had declined on
the ground that Che offering price
would be higher than present invest
roNi conditions warrant.
The Chicago syndicate, it was under
stood, purchased the Southern Railwa,
notes on the understanding that the
War Finance Corporation Would under
write hall the issue.
Opening Branches in China. The
Shanghai branch Of the Asia Bankinp
Corporation viii be opened for business
ON February I. lt was announced YES
terdal. Tic Iiankow branch viii be
opened about March II and tine Tientsir
and Pekiug branches about Mav /
W. {. Lane. vice president of the Guar.
anty Trust Company, and Ralph naw.
SON. vice president Of the Asia Banking
Corporation, arc in charge of the or
ganilaton of the foreign branches and
viii remain abroad for some time
-s -
New-York tribune., 1919-01-31
na>
Dividends
Extras

National Grocer Company. Extra.
dividend OF ; PEI cent ON the common
stock in addition to regular ouartcflv
dividend OF > per cent both paoanlo
rebrn"ry 70 to Stockholders of rcceil
repruHry :. he regular svmi-alnusl
stock WAS also declared na>ahle Inn.
SO TO stockholders of record Inns m
New-York tribune., 1919-01-31
Moro Ni!Ncr 10 India

The local Assay O0co has arranged
20 make shipment to-day Of $500 900
n silver hArs to Il,iia. This viii make
to'ai OF >2.3oo,ooo shipped to the Far
East this week.
New-York tribune., 1919-01-31

The Federal Reserve Bank OF New
York has put i'll force the following
schedule Of rediscount rates which
apply to bankers accoptances: Ma
turtles up to l. days. ! per cent; l6 to
50 days, inclusive, AZ per cent; 81 to
so days, inclusive, 4 Y per cent.
New-York tribune., 1919-01-31
Bank of England.-LC

Bank OF Eng ngIand.-LVNUON,J Jan. ~.
The Bank OF England II its weekly
statement reported an increase in gold
holdings OF s4t9.Sll. The proportion
Of reserves to liabilities now stands Al
lib per cent, compared with 1892 pc
cent week ago. The statement, with
the changes from last week, follows:
New-York tribune., 1919-01-31

London Money Market. LONDON,
Jan. 30.-Closing: Money 31s per cent.
Discount rates: Short and three
nonths' bills 8 1882 per cent. Cold
premiums at Lisbon 600.
New-York tribune., 1919-01-31

Commercial Paper nc volume OF
paper coming on limited, and coun-
try institutions a.e tic principal pur-
chascrs of it, though there S fair de
mand from local banks. Paper of rcg
ular maturitics is inoving odcrately
at to 81 per cent Tor the most at
tractivc names.
Bank Acceptances.--Witn call money
rates fairly low the demand for bank
acccptances was active. Rates wcrc
unchanged, as follows:
Thirty Sixty Ninety
/ Spot dc days. dav days.
livery: Per ccr.Pcr centpcr cent.
+ ! gi b e
member
banks .4a@4 4s@43s .s@4l4
! + ! gi C
non-mcm
ber banks.4l4@41s 4as@4]4 42s@4s
/ Ineligible
bank bills.5Is@5 5H@5 51a@s
For delivery within thirty days:
Per cent
Eligible member banks. 4Is
Eligible non-member banks. asa
Ineligible bank bills.
Discount Ratcs.-The following table
gives the current T of the twelve
Federal Reserve BANS on commercial
paper for all periods up to ninety days:
New-York tribune., 1919-01-31
Nominal.

NOMINAL
Bclo~ is giYcn the currcnt cNcha. 20
value OF foreign money in dollars and
cents, together with the iutriusic cold
pnrity, ~ calculated ~ the Ui. ed
~tatos ~ int:
New-York tribune., 1919-01-31
DistiIlcrs to Make Sugar

The Distilcrs Securities Corporation
is planning 10 Offset the effects Of pro
hibition Oh it's business by converting
three Of its by distlcrs at Peoria
ILL.,, and another at pckin, H., into
sugar manufacturing plants 1t is un
new process Of manufacturing sugar
from corn. The company, it was statco
yesterday. Will retain six large plants
for the manuiacturc Of alcohol fol
commercial and medicinal use. capable
OF producing 1000 gallons a day.
New-York tribune., 1919-01-31
ST Paul Meeting Postponed

Directors Of the Chicago. milwaukee,
& St Paul. who were scheduled to hold
their regular monthly meeting yestcr-
day, failed to appear in sufficient num-
bcrs TO constitute a quorum so a post
poncmcnt was ordered. In some quar-
tors Of tho financial district it had
been intimatcd that the board would
announce the terms OF the roads con
tract with the government. The disap-
pointmcnt Of the speculative element
over the failure Of the board to act
was registered on the Stock Exchange.
The preferred stock. which earlier in
the day had sold UP to 731s, closed Off
half a point at II
New-York tribune., 1919-01-31

Silver.-London, as I'd, unchanged; !;
New York, l01 isc. unchanged; Mexican
dollars, 7712c, unchanged.
New-York tribune., 1919-01-31

Bank Clearings.-Ba clearngs yes
terday we're:
Exchanges. Balances
Now York . S59o.546,741 $60,638,72'
New-York tribune., 1919-01-31

Sub Treasury The Sub Treasury
lost Sg14 900 to the banks N Wcdnes-
daN.
New-York tribune., 1919-01-31
w :, a ltfa :
nance Economics

compared with 4 year 60, were as
follows:
Yesterday. ear ago.
Per cent. Fer cent.
New-York tribune., 1919-01-31

Edgar b. Davis, director Of tho plan
latlon interests of the United States
hubbcr Company in Sumatra has ten
detcd his resignation as director OF
that corporation.
The Goldfield news and weekly tribune. [volume] (Goldfield, Nev.) 1911-1947, 1919-09-27
WORK AND SAVE

Ater-war extravaganza is not a new phenomenon. 1t has
probably been the experience in every victorious country AFTER
every war. Free spending is a way of relief after a strain.
Seii-indulgence. humanity, follows a period of self-denial, and
especially if the latter has been compulsory. The war is over,
but that the European drafts on Americas resources have not
subsidized is plainly shown by looking at the statistics OF our
tremendous exports.
We have enough to supply needy Europe, as we had In
The last year of the war. But, no more now than then, have we
enough to supply the huge demand without exercising some
degree of frugality ourselves. 1t is not a case OF doing With
out, as it was, on occasion, while the war was on; but it is a
case of doing with considerably less than we seem ready to
get along with.
This matter is dealt with among others, in a current state
ment by the federal reserve board, as follows: ITO the extent
that the American consumer, or a sufficient percentage OF
American consumers, do not voluntarily reduce consumption
nv amounts sufficient to release for the use of European con-
sumers the great quantities of goods which are being sent
overseas. there results in the American market competition
between the European demand and the American demand,
the inevitable effect of which is to drive up prices and to induce
the peculation which rising prices usually OCCASION
The unavoidable conclusion is that the buying in COM
petition with the European demand has been a potent cause
of rising prices since the war ended.
The board renews its advice of a month ago.. Work and
save" It is a slogan that should appeal to everybody, in this
tense situation. During the war we worked and saved with
all our might. A renewal of that spirit at the present time
would undoubtedly help to check soaring prices.
The Goldfield news and weekly tribune. [volume] (Goldfield, Nev.) 1911-1947, 1919-09-27
THE o WILL RULE

They tried it on Boston first. the unionized police force,
and Boston has answered it for all other cities and that for all
time, at least all of the present time. The victory has been
won, not for a class but for the whole people!
A unionized police force is not a joke, i. is a tragedy. By
seeking membership in labor unions the policemen are. doing
at least two injuries and one of them is to labor itself. To
think of making a police force subject to unionized labor is to
bring that kind of labor into disfavor. There is something
sinister in a police force being affiliated with this or that
order, organization. or church-a police force is supposed to
he affiliated with all the people and to represent all the people.
A police force affiliated with any organization that in
cludes less than all the people would be a joke, a travesty, a
tragedy and a crime. Or is it the Intention of the promoters
of such ideas-and fifty cities are said to have been in the
plans-to protect certain people and not others? We have
heard some things said about government by classes, but
would not a unionized police force be the worst of all forms
of class governments? The leaders of union labor need to
have a care lest they stretch their ambitions to the breaking
point. They are more in need of wisdom now than at any
ether time in their history.
The Goldfield news and weekly tribune. [volume] (Goldfield, Nev.) 1911-1947, 1919-09-27
A HERO AT SEVEN

A little boy of Holland who has just been landed in New
York seems to be the rival of that youthful Sergeant York OF
Tennessee. The boy has been adopted by an American Red
Gross nurse. He was seven years old when the Germans
invaded Belgium. With his parents he was on a canal boat
The Germans took them for Belgans. They blew up the boat
and because of resistance they cut out the mothers tongue
and cut off the fathers arm. The little lad seized a revolver
and shot down three of the German officers. He was taken
prisoner with some English and with an Englishman made his
escape. Young as he was he remained in the army doing
whatever he could to help whip the Germans whom he hated.
Fe was taken as the mascot of the American, Second division,
finishing the war with them. carrying ammunition and water
in the most dangerous surroundings. The Americans We're SO
fond of the little fellow that he was persuaded to- come to this
country. where he will be duly adopted and converted into
an American citizen. He will not need much converting nor
remaking. He is an American lad already.
This story, which is not a fairy tale, reminds one OF the
most extravagant movie pictures of some war scenes. Little
Belgian boys have been depicted as playing such roles-but
this little boy of Holland played it in real life. And we are
also reminded that in those days the German invaders did COM
nit atrocities and this boy, who saw some of them, and ms
hatred of them that taught and inspired him to fight is a
living reminder of such things. Let us be careful not TO re-
write history into something less than it really was.
The Goldfield news and weekly tribune. [volume] (Goldfield, Nev.) 1911-1947, 1919-09-27
THEIR DISEASES WITHOUT A NAME"

In Great Britain The vendors of cure-alls have invented =
medicine. or powder for what they call the prevalent dis
eases without a name" with which untold thousands ARE SAID
to be suffering as a part of the war period shock. The symp-
toms are described as both physical and mental and they are
listed as follows:
The physical: Pressure on top or back of head, pain on
top or back of head, alternating chills and flushings, uncer-
tainty of gait, feeble heart action, poor digestion and appetite,
tired feeling in the morning, feelings of pins and needles.
nervous or sick headaches, nervous dyspepsia, nervous palpi-
tation of heart>and tremulous limbs and muscles.
The mental symptoms are given as follows:
Fear and suspicion of others, lack of confidence in self,
inability to concentrate, lack of continuity of purpose, fear of
crowds or open spaces, fear of being alone, fear of closed
spaces, uncertainty and lack of decision, inability to think
clearly. extreme self-consciousness, dulness and acute de-
spondency and Representatives,.
All this is interesting as medical makcbelieve. What
most Of these brain and sedentary workers" probably need
is some one to kick them out of doors for a few hours each day
and some healthful thinking along sane lines. Gods sunshine
will do more toward restoring such unfortunates than all the
powders that can be conjured up. We need a restoration OF
sun worship more than we do many other things. 1t is the
sun that gives life and that cures diseases.