davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1919-03-18

Trade ScoutConfers W'ith
Tanners on Surrey of
EurOPea1, Market

representatives of the export de-
partments of a group of tanners, with
headquarters in and around New York,
met with Norman Hertz at the Gus
toms House yesterday to discuss the
leather situation in Europe Mr.. Hertz
Is representative of the Department
OF Commerce ard will sail Apr; 9 to
investigate general leather conditions
abroad for the government.
At yesterdays conference the tam
ncrs offered suggestions as to the
various angles from which Mr.. Hertz
can make his investigation. 1t was
believed that the best and quickest
results could be obtained if Mr.. Hertz
made his first stopping places in the
Scandinavian countries. The opinion
seemed to prevail that the credit Sit
uation in those countries was fairly
stable, and that they would be in a
position to make immediate trade ar
engagements with concerns in the
United States.
Mr.. Hertz was formerly associated
with the leather subdivision of the
Quartermaster's Department and is
thoroughly familiar with the REQUIRE
ments of the leather industry in this
country. He has already had a con-
terence with members Of the tanning
industry in Chicago, and will have
similar meetings with tanners in Bos-
ton and Philadelphia before going
abroad.
New-York tribune., 1919-03-18
Harding Urges Cotton
Exporting Corporation
Wants Growers to Capitalize at
$50,O0O,OOO - Says War
Finance Board Will Help

WASHINGTON, March 17.-Organi-
cation of a cooperative cotton export
corporation, with a capitalization of
perhaps $5O,000,0 900, was advocated to-
day by Governor w. T. G. Harding of
the Federal Reserve Board, in letter
to a Southern newspaper editor
Mr.. Harding suggested that such a
corporation, organized under the
Webb act solely for foreign trade
transactions, could be financed to
some extent by the War Finance Cor
poration under the recent act passed
by Congress authorizing an appropria-
tion of $1,O00O00,OO0 to exporters.
In payment for stock of the cop
poration, Southern cotton producers
and business men might use Liberty
bonds which they hold, thus elminat
ing the necessity Of tying up large
quantities of cash, he suggested. The
Liberty bonds could be held by the
corporation and not placed on the
market, he said, thus removing any
objections governing agencies might
have to their exchange for corpora
tons stock.
Mr.. Harding suggested that a con-
gress of cotton producers and others
Interested should be held at once to
discuss the project.
New-York tribune., 1919-03-18
urs
SIS, ,OOO,O 900 Worth
OF F1rs viii Be Auc.
toned Next Month

More than 100000 worth of mer-
chandise was turned over to the New
York Fur Auction Sales Corporation
yesterday, which was the last dav
upon which furs could be delivered to
the sales company for disposal at it's
big auction starting April 7. This de-
livery establishes new record for
one days receipts. Until last Wednes-
DAY the prospects for the Forthcoming
auction were considered extremelv
poor, but since then the daily recent
of merchandise has been constantly
increasing. 1t is expected that when
complete check is made of the furs
to be sold it will be found that thev
total in value $5,0OO,0OO.
Inc last sale of the New York Fur
Auction Sales Corporation was held
IN January and resulted in the dis
posal Of about $4,000, 900 worth Of
SKINS. The falling off in the valuation
OF the offering for April, compared
with that of January, is explained bv M
the unusually mild winter. This re.
suited in the catch of fur bearing ami
mails being made earlier than in other
years, in time for the January sale.
Under normal conditions the sprinp
sale is the largest. 'e
New-York tribune., 1919-03-18
Buyers Showing More
Confidence i'm WooIIens

AS the selling season for fall woollen
goods progresses buyers are showing
more confidence in the market and are
placing more orders. The higher prices
obtained for the finer grades of raw
wool at the governments auction sales
in Boston last week have served to in
fuence the buyers to the opinion that
present prices are about as low as they
can go, and that if any changes are
made it will be an upward rather than
downward revision. Trade leaders
believe that prices will advance soon.
A fairly large volume of business has
been booked by agents at figures which
show but little profit to the mills.
Prices were made, in most cases, to
conform to the buyers ideas of post
war conditions. The fact that many
mills have offered only limited guam
tity of certain fabrics at prices named
when the cloths were first shown to the
trade means that they we're not anxious
to take on enormous quantities of l.lsi e.
ness at those prices and felt that once
the market was started prices would
take an upward swing.
New-York tribune., 1919-03-18
British Organization for
Disposal Of Surplus Propertv

Tho British Ministry Of Munitions
has set up central authority to super
wise the disposal Of all surplus govern
mcnt property. Tho organization con-
sists Of board directly responsib,.
TO the Minister Of Munitions, to be
called the surplus government nror-
srty disposal board, under which wilI
be seventeen sections 70 deal with In
different classes OF property, these Sec
tions including: Lands, buildings, fac
tories and furniture; huts, building
materials and timber; plant and ma
chinery; mechanical transport; horses
and other animals; textiles. leather
and equipment; railway materials,
etc; electrical Instruments; medical
stores; ferrous and non-ferrous ma
terials, and chemicals and cxplosivsg:
factory consumablc stores; aircraft
equipment, and watercraft and dock
spsant.
At the head Of each section will be
= controller" who, in carrying out the
duties intrusted TO him, will have the
assistance of an honorary ad-isory
seommsttee Of men whose special knowf-
edge ard experiences viii insure that
tine various cIagges Of property ara dis
posed of to tho best advantage.
New-York tribune., 1919-03-18
BUSINESS NEWS BUREAU:
Tribune Building
154 Nassau Street
New Ruling ON
Fur Tax Pleases
Garment Makers
Will Not Apply to Trimmed
Goats and Dresses Unless
Fur Part Exceeds Value
of All Other Materials

The Bureau of Internal Revenue has
issued a new ruling reversing It's po-
sition on the application of the lo
per cent fur tax to garments trimmed
or partlv made of fur. Under the new
ruling, if the fur used in garment
made partly of other material does
not exceed in value the total value
OF all other materials used in the max
ing of the garment, no tax is appnc-
able. The previous ruling designated
that if the fur was of greater value
than any one of the other component
materials, a tax should be paid.
1t also is held that for the purpose
of determining whether or not gar
ment is taxable under this ruling, a
fair market value of the cloth or other
materials in the garment, at the time
it is sold, can be taken, instead of the
actual cost of the materials. Also a
trade discount can be deducted be-
fore the tax is applied, but not cash
discount.
Louis Wizard, manager of the Cloak,
Suit and Skirt Manufacturers Pro-
tective Association, who has been con-
ferring with revenue officials for the
purpose of determining the exact ap-
plication Of the fur tax in the women's
garment industry, said yesterday that
he was informed that the manufactur-
er must pay the tax on part fur or fur
trimmed garments when they fall into
the taxable list. The tax may be
shown separately on the bill or added
in and only gross price shown. How
ever, the fact that the total includes
the war tax must be stated on the bill.
The fur tax became effective Febru-
ary 25 and manufacturers must make
their first return April 80. This will
cover the period between February 25
and March 81, inclusive, and a report
will be made thereafter on the last
day of each month, covering the trans
actions for the preceding month.
The revenue officials, according to
Mr.. Wizard, have no desire to upset
present bookkeeping methods in the
trade and the simplest form of max
Il was given to understand that
probably a simple statement Of the
amount of taxable merchandise sold
and the amount of the tax would be
sufficient, said Mr.. Wizard. "Of course,
these statements can be checked up
and a prison sentence awaits any man
who is discovered making false re-
turns"
Mr.. Wizard also explained that de-
tachable fur collars and cuffs if fin
rished off and sold separately from the
garment they were intended to be worn
on, would be subject only to the usual
10 per cent tax, while if sold attached
to the garment would subject the
whole garment to 10 per cent tax
if the fur exceeded all the other ma
terials in value.
i. This probably will lead to costly fur
collars and cuffs being made separately
and sold separately from the garment,
thus avoiding 10 per cent tax on
the entire garment.
New-York tribune., 1919-03-18
Sales of Furs Larger in
Southern Resort Cities

Retail furriers in the South have
shared in the prosperity of the fur in
dustry, though the business in that
section Of the countr yis confined al
most exclusively to the same of spring
and summer garments c. Biscow,
president Of the Mutual Fur Manufac-
turers' Association, has just returned
from a trip through the Florida re-
sort section and he declares that the
retailers at Jacksonville, Palm Beach
and the other resort cites have all
done a good business. A large pro-
portion of the sales was to tourists and
seasonal visitors who are now about to
start for the north in large numbers.
Sable and fisher in one mad two piece
scarfs were the biggest sellers. Basi-
ness is also good in North and Sopth
Caroline, according 20 Mr.. Biscow, kgi
because of the unsettled condition II
the cotton market big business is rtt
recorded in these states.
New-York tribune., 1919-03-18
Business Money

The market for commercial paper
was even more quiet than usual yester-
day. The new bills coming in are al
most negligible. The prevailing rate is
still 5 u per cent but some paper, with
an unusually good name and short
maturity goes for 81. Out in Chicago
there is ready market at the latter
figure. Note brokers are seeking and
finding their best market out of town.
Banks showed great reluctance to
lend until they have learned the extent
to which they have been drawn upon
for tax payments. The checks which
are drawn to make tax payments need
not be certified therefore the banks do
not know about them until they are
presented for payment and they have
not yet been presented for payment be-
cause the government has been deluged
with mail, and hasn't yet been able to
straightcn out the tangle.
The market for bank acceptanccs
yesterday presented a marked con-
trast. 1t "opencd up" amazingly, in
the words of one dealer, and there
scanty supply of bills could hope to
take care of. Business is not bor-
rowing, and the prospect of when it
will begin to borrow is uncertain.
Call money, renewing at Az per cent
and falling to a, both increased the
demand for bank acccptances and
enabled dealers to borrow cheaper,
but this latter advantage means little
to dealers now, for there is SO little
paper to be bought that there need
be but small loans to get the money
TO buy it.
Thus there is an interesting situa-
tion. The banks are unusually will
ing to put out money on call, and
New-York tribune., 1919-03-18
Leaders of Commercial
Organizations to Meet
Conference at Albany This
Week Will Discuss State
Problems

ALBANY, March 17.-Delegates from
every city and town in New York State
which has a Chamber of Commerce or
pected to assemble here on Thursday
and Friday Of this week to participate
in the first annual session of the Con-
ference Of General Commercial Or
CARNATIONS of the State Of New York.
Important topics Of statewide inter
est will be discussed by the confer
ence, such as the reconstruction pro
gramme Of the state, revision of tax
system, conservation, inland water
ways, development and operation of the
water powers and proposed hydro-elec-
trio powers Of the state, state public
works, aerial transportation and high
ways.
Governor Alfred E. Smith is to well
come the delegates in behalf of the
State of New York at the opening ses-
sion Of the conference at o'clock,
Thursday, in the ballroom of the Ten
Eyck Hotel. Mayor James r. Watt. of
Albany will officially welcome the dele
gates in behalf of the city, and Presi-
dent Charles M. Winchester. of the
Albany Chamber Of Commerce will call
the meeting to order and present the
state chairman of the conference, who
is George E. Mccoy, Of Peekskill, N. Y.
Other members Of the executive COM
mittee arranging the conference are
George d. Babbitt, of Albany; c. C.
Beahan, of Rochester; Samuel B. Bots
ford, Of Buffalo; c. W. Kincaid, of
Utica; Lewis E. Pierson, of New York,
and A Robson, of Binghamton. Daniel
W. Wilbur, of Poughkeepsie, is secre-
tary of the state executive committee,
and Roy S. Smith, Of Albany, is asso-
ciate secretary.
Speakers besides Governor Smith
will be Abram I. Elkus, former Ambas-
sador to Turkey, who will outline the
reconstruction programme of the State
of New York; Chairman F. M. Daven-
port of the Senate Committee on Taxa
ton, who will speak on the revision of
the tax system of the state, and former
Governor Martin II. Glynn, of Albany,
who will speak on inland waterways.
New-York tribune., 1919-03-18
Silks
Statesmen Start on Road
With Fall Lines of
SILK Fabrics

a Novelty silks continued active yes
terday, but business in the staple
weaves was comparatively quiet Few
buyers visited the showrooms and
some dealers were of the opinion that
the bulk of business in spring fabrics
henceforth would be confined to re-
orders. Sellers of novelties asserted
that they had received evidences dur
ing the day that some Of the larger
retail dealers had underestimated
their requirements on this class of
goods The leading representatives Of
manufacturers seem to be occupying
themselves with the potentials of fall
demand Some lines of such fabrics
have been prepared Road statesmen
began to leave the city last Saturday
night on their annual selling trips
The travelling men have not as yet
had time TO book orders, but it Is ex-
pected that the next few days win tell
something about their initial en-
deavors- Nearby manufacturers Of
dresses are showing more interest ia
fall fabrics and some Of them al
ready have placed rather good orders
Manufacturers now feel more conf
dence in the stability Of prices for the
4dll StdoOu dul IL Wdb 61lU QQI1IK Iu6
day that buyers were less prone than
they have been TO talk lower quota
stions.
Manufacturers of yarns made from
spun silk, or short ends, reported that
some buyers who had visited the mar
ket for the purpose Of getting line
on conditions found that business was
40 active that they Immediately de-
cided TO place orders. Manufacturers
sof woollen goods and the finer grades
sof cotton fabrics are reported to have
been buying on liberal scale.
q. Japanese raw silk advanced about
shve cents a pound yesterday. Appar-
entity the satisfactory outlook for the
manufactured silk industry in the
United States has induced weayers to
which buying has made inroads On the
available supply in the New York
market.
New-York tribune., 1919-03-18

in bank acceptances, which owing to
their liquid nature are virtually call
money, but hesitate to put out money
on time. The explanation is two
fold. On Saturday there matured
S794,00S,000 of Treasury certificates
of Indebtedness. Most of these, per
haps 65 per cent, were used for the
payment of taxes, which is a way of
saying that neither the banks nor the
government got anything. But the
rest were held by private individuals,
ment, and these the government had
to pay off in cash, or, what amounts
to the same thing, in a corresponding
reduction of government deposits at
the certificate holding banks.
This has placed the banks in pos
session of an unusual amount of
funds. 1t left them yesterday with a
very large amount which they were
free to offer on call or on bank ac-
ceptanccs, but this condition will not
last very long. The Withdrawals for
tax payments will soon be made, and
these are likely to more than absorb
ness. Moreover, if total tax payments
prove to be larger than total matur-
ing certificates of indebtedness, tho
surplus will be deposited by the gov
ernment in Federal Reserve banks.
1t would be sometime before that sur
plus found it's way back to the men,
Der banks.
The range Of rates on commercial
paper yesterday were unchanged from
Friday and week ago: two, three,
four, five and six months maturities,
5A@5h per cent.
Fifteen to sixty day prime trade ac-
ceptances, 5@51s per cent; sixty to
ninety days, 5@5a per cent; endorsed
trade acceptances, Az per cent, all
maturities.
New-York tribune., 1919-03-18

trade, which comes on with a rush in
September and October.
"This being the case. there will not
be much of a price reduction. if any,
in hats for next fall But think that
we will get better quality than we
have been taking. In my opinion, the
ha. manufacturers have on hand
supply of fur sufficient to last them
until about July /. Then they will
have to buy new fur, which they will
be able to get at lower prices. Taking
advantage of that, they can put
better grade of fur into the hals lol
fall, SO in the end, while the man
in the street will not find cheaper
hats, he will find better hats at ap-
proximately the same price he has
been paying. Competition will see to
that.
'During the war hat manufacturers
have been compelled to use grades of
fur formerly considered too low to
use in hats. We all want to get away
from that condition as quickly as pos
siblc. People are learning to demand
quality rather than low price, and the
consuming public now has the money
to pay for quality.
nultlmately, W aas. Of course, prices will
NOi'1S uoVti' AAOot VI CNe luz uSeQ Ill
the hat industry is imported from
Australia. | understand the British
government had great number of the
Australian rabbits killed during the
war for their meat, which was canned
and shipped. The skins of these ami
mails, in most cases, were allowed to
rot, but rabbits multiply rapidly, and
it will not take long for the normal
supply to be reached again The only
other element entering into the situa-
tion is that of transportation. AS
soon as shipping space can be obtained
these rabbit skins again will come here
in large quantities, ard the price will
drop still further. These reductions
should be felt in spring hats next
year."
Mr.. Warner explained that during
the war the price of rabbit fur rose
fully 100 per cent in an average case
from the normal pre-war level 1t has
receded, but is still about 416 per
cent above normal.
"While labor conditions in both the
raw fur industry and in hat manu-
featuring may prevent the prices of
finished hats from ever getting back
to what they were before the war"
said Mr.. Warner, "I think they ulti-
mately will get closer to the old levels
than they will in most other industries.
That is because of the almost mex
haustible supply of rabbits in Aus
tralia."
New-York tribune., 1919-03-18
Men to Pay High Prices
For Hats Again Nert Fall
Truly Warner Asserts Ma nufacturers Are Not Will
ing to- Take Loss Raw Material Bought
During War Period--Better Quality Promised

When the tired business man goes
into his favorate hat store to buy his
new soft felt hat for spring he will
have to pay about the same price that
he did last spring, perhaps little
more. When straw hat time comes
round he may give a low whistle Of
astonishment when the hat salesman
tells him the price he will be eX
pected to pay for his midsummer head
gear. Prices for other commodities
may be skidding downward, but the
man in the street will continue to pay
wartime prices for hats until spring
of 1920. This, in substance, is the view
of Truly Warner, hat manufacturer
and retailer, whose activities extend
over, great portion of the United
States.
"Thc hat retailer already has put-
chased his stock for next spring, and
summer" said Mr.. Warner yester-
day. He paid top-notch prices for
his spring felt hats which he bought
IN January and February. He also
paid skyhigh prices for his straw
'"'o' Pui uiSudScu Ill ulluWlnCer De1Ore
the spring hats were bought. If the
ultimate consumer gets any reduction
on these it will be because the re-
taller may shade his profits a bit.
doubt if many of them can afford to
DO it. at least, not until the season
is we'll advanced.
Right now the retailer should be
buying his stock for fall. The normal
months for him to do his fall pur-
chasing are February, March and April,
but so far he has held off buying, with
the result that the hat factories, taken
generally, are idle. The retailer has
heard of the 40 per cent drop in the
price of raw rabbit fur, used in the
making Of felt hats. He expected the
manufacturer to drop his prices. How
ever, the manufacturer has not done
so, for the reason that in most cases
he has large stock of fur on hand.
purchased before the drop came.
Now there were two courses which
the hat manufacturer could take. One
was to accept loss on the raw stock
on hand and make prices to match the
drop IN raw material, and the other
was to hold on and try to keen prices
up. AS rule the hat manufa cturers
nave taken the latter course l think
that soon the retailers and jobbers
will be compelled to go to the manu-
facturers and place their orders if
they want to be sure Of getting enough
merchandise to take care of their fall
New-York tribune., 1919-03-18

British Trade Ways

LONDON, March 17.--The Fed
Grafton Of British Industries,
representing 10000 manufact-
urers and $1,000, 900 capital,
is organizing q great system of
trade ambassadors as pioneers
for the extension of British trade
overseas. BY July the federation
expects to have an ambassador
in every important centre. It is
already represented in Spain,
Denmark, South America and
the Near East.
New-York tribune., 1919-03-18
Maximum Price of
British Steel Increased

On March tho following increases
~ tho maximum price OF steel for
homo sales I. 0. b. nakers' works be-
came e1sctive in Great Britain under
ruling Of the Minister OF Munitions:
Mi!d steel, billets, blooms, slabs, sheet
and tinplate bars, ordinary quality.
Gl2 bs, Per ton; small angles, tees and
fiats, extra list e rerollers only, cit bs.
per ton; small rounds, squares and
hexagons, extra list G rerollcrs only,
CIT bs. per ton. Tho steelmakers, price
for small angles, rounds, etc, remains
unchanged st ala los. per ton.
New-York tribune., 1919-03-18
Night Workers Demand
Forty-EigIlt Hour Week
BusiScss Nc'us Burcas
SPECIAL Correspondent

NEW BEDFORD, Mass, March IT,
Manufacturers of textiles have had an
other worry added to their long list by
a new demand of night workers for a
4S-hour week, similar to that in force
for day workers. The men who now
work 57is. GO and 66 hours a week in
various mills met in mass meeting
here Saturday night and made their
demands. The manufacturers contend
that the majority of the night work.
we'll we satisfied with their long hours
and consequent high pay, and as no no
women or children are thus engaged
New-York tribune., 1919-03-18
Exports of Hides to Norway
Will Now Be Considered

The National Association of Import
ers of Hides and Skins announced yes
terday that the War Trade Board had
ton Of hides is to Norway w. Applications
for export licenses will now be consid-
cred by the War Trade Board for the
shipment of hides, if accompanied by
proper import certificate number.
New-York tribune., 1919-03-18
Price of Clycerine Lower

Glycerine, c. P, is weak, sales be-
ing recorded yesterday at 16 cents
pound. The market price before the
United States entered the war was
around 20 cents. Overproduction is
the cause of the decline. There are
large stocks of glycerine on hand for
which the demand is reported to be at
a minimum.
New-York tribune., 1919-03-18
Plaid Back Overcoatings Active


Plaid back o-ercoatings are said to
be selling to tho mems clothing. man
ufacturers in gr.nser quantities than
ever before because such cloths can be
made up into garments without the use
of Innings. At present lining mate
rials are extremely high in price and
the clothing manufac,u ~ers have
turned to plaid backs mos strongly
than ever before to obviate t1c use of
large quantities of Innings