davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1919-03-15
Funds to Meet
Railroad [ D US
Are Now Assured
Finance Corporation, With
Cooperation of Bankers
Here, Will Provide $780,
100000 for Prompt Use

Active steps have already been taken
by the War Finance Corporation to
aid in escaping the dilemma created
by the failure of Congress to pass the
$750,000,000 appropriation for the rail
roads provided for in the general de-
ticiency bill. Arrangements have been
completed to loan the railroad admin
istration $5O,OO0,O00 to meet vouchers
that will soon fall due, it was learned
yesterday.
Eugene Meyer, jr, managing di-
rector of the War Finance Corpora
ton, was in the financial district con-
ferring with bankers on plans for
financing the government obligations
to the railroads and the equipment
companies. Late in the day he said
that much progress had been made
and that every disposition was shown
by the banking community to put into
practice as soon as possible the
scheme for the banks to lend on col
lateral furnished in the forms of war
rants by the railroad administration
and the proposition to draw drafts on
the Director General for the amounts
due the equipment companies.
Needs Can Be Met
In answer to inquiries regarding q
equipment acceptances which, accord
ing to tentative plans, are to run for
ninety days, Mr.. Meyer thought that
this matter would not have to be
brought up, as the acceptances would
probably not begin to fall due before
next August or September, by which
time Congress will probably have
acted in some form to alleviate the
situation.
Bankers who conferred with Mr..
Meyer were convinced that the $7O1,-
100000 estimated by Director General
Hines to be needed by the railroads
by June 80 can be easily raised under
the plans suggested by the govern
ment. In addition to the $3oOOOo,0O
which the War Finance Corporation
may make in the form of direct loans,
S200o00,0OO should be Forthcoming
through placing among the banks
$20O,OOO.000 of equipment acceptances; {;
that the carriers should obtain loans
of $10O,000,000 directly from the
banks, and that the railroad admins
tration expects to receive 100000, 900
from the War Department in payment
of existing obligations, it was said.
The War Finance Corporation since
the close of Congress has made direct
loans to several railroads in addition
to its promise to pay off the extended
portion of the S15,0O0,0OO Erie Rail-
road notes that fall due April /.
Howard Elliott Returns
Howard Elliott, president of the
Northern Pacific Railway and chair
man of the committee of railway ex-
ecutives cooperating with the railroad
administration in the present emer-
gency, returned from Washington yes
terday. He announced that Alfred P.
Thorn, general counsel of the Asso-
citation of Railway Executives, had
been appointed vice chairman of the
committee, and that Harry Bronner,
president of the Missouri Pacific, had
been added to the committee
Mr.. Elliott said the committee ex-
pected to confer with the Director
General of Railroads again in Wash
ington next Wednesday morning.
New-York tribune., 1919-03-15
Calumet & Hecla
Onits Dividends:
Shares Drop $5l
Unsettled Condition in In
dustry, According to State
ment, Influenced Decision
Not to Make Disbursement

Directors of the Calumet g. Hecla
Mining Company, whose copper proper
ties in the Lake Superior region are
among the richest in the world, failed
yesterday to take action on the regu-
lar dividend due at this time. Official
announcement that lowing to the un-
settled condition of the copper indus
try no acti9n was taken with regard
to dividend" was followed by break
of $51 a share in the price of the
shares Of the company on the Bos-
ton market, where they are traded in.
The stock closed at $3.50 share.
Unusual attention was attracted in
Wall Street to the failure of the CAL
umet directors to vote disbursement
on the stock because of the extraor-
dinary dividend Of the company in
recent years. Total dividends paid
by the company since it's incorpora-
tion in 1872 and up to December 81
last. amounted to $3.50, O,75OO00, or ST.
507.50 q share. There are only 1OO,-
600 shares of the stock outstanding, of
a par value of S25, of which only S12
has been paid in.
In 1914 the company paid its stock
holders $40 share IN dividends. The
expanding war demand for the metal
resulted in a dividend of $50 a share
being paid in 1915. In 1916 the dis
bursement to the stockholders totalled
S75 and in 1917, $85. Last year the
dividends amounted TO $50 a share.
The last dividend was $15, paid three
months ago.
In 1917 Calumet & Hecla reached a
market value of 81 900 a share 1t
high record price during the war was
$640, touched in 1916. Since the sign
ing of the armistice and the falling off
In demand for copper the stock has
declined steadily and is now selling
at the lowest level since the spring
of 1915.
New-York tribune., 1919-03-15
Dividends s
Extras

Buffalo & Rochester Railroad.-Extra
dividend of X of l per cent has been
declared in addition to regular quar-
terly dividends of IL per cert on the
common stock, both payable March 20
to stockholders of record March Is.
Loew's Theatre Company.-Extra
dividend of u of per cent in addition
to regular quarterly dividend of 2 per
cent, both payable April to stock
holders of record March %.
Prairie Oil & Gas.-Extra dividend
of 81 in addition to regular quarterly
OF % snare, both payable April 13 to
Torrington Company.-Extra dividend
OF ! per cent has been declared in
dend of per cent on the common
stock, both payable April to stock
holders of record March 21.
New-York tribune., 1919-03-15
Corporate Returns

Mohawk Valley Operating
revenue for the year. ended December
81 last was $5,919,12S, against s4971,-
2o4 for the year before. Gross income
amounted to $1,835,78O. Balance avail
able for dividends was $769,351, com
pared with $716,825 for the preceding
year. After dividends had been taken
care of surplus aggregated s636596.
Mass Consolidated Mining.-Total in
come of $796,638 was reported for 1918.
After expenses and taxes of $s10,967
det1cit was $l4,329. Total deficit
amounted to $25,598.
Western Power Company of Canada.
For the year ended December 81
gross was S448,700. Operating expenses
Of S163,418 were provided for, leaving
net Of $2s5. .291. Gross income amount
ed to $294,079.
Kansas Gas and Electric Companv
January gross ...... $253e54 Inc. $50, ,7e7
Balance ia ............ 43.s2o Inc. 7.oi0
Balance ............ ,4S5 Inc. 1o3.68t
Pacific Power and Light Company
January gross.. $170.50s Inc. st7, ,444
IL months gross. 1.a78,311 Inc. 208,53s
Portland Gas and Cokc Company
January gross. ..... $teo.o29 Inc $50, ,16a
IL months gross.... 1,sa9,629 Inc. 464,487
New-York tribune., 1919-03-15
Detroit Banker Forecasts
CITY Ownership of Roads

The prediction was made yesterday
by Ralph Stone. president of the De-
troit Trust Company, of Detroit, Mich,
who was in New York, that the people
of Detroit will vote in favor of the
sale of the street railways of that city
to the city at the election, which is to
be held there next month
Mr.. Stone said that in his view this
was the most important thing in Detroit
at present, as it will be the first ex-
ample of municipal ownership in the
United States, and the results will be
watched all over the country.
New-York tribune., 1919-03-15
February Porphyries Output

Preliminary production figures of
the II four porphyry copper companies
Utah, Ray. Chino and Nevada Consoli
dated-for February showed combined
output of 22,1S7,000 pounds, compared
with 1851 900 pounds in January. The
falling off was due to the efforts Of
these companies to curtal production.
II the output continues at the current
rate during 1919 it is estimated that
these producers will turn out only
about 275,0OO,OOO pounds. compared
with 32S,Ooo,OO0 pounds last year.
New-York tribune., 1919-03-15
CHICAGO AND NORTH WESTERN
H AII w Az GAAIp nv

NOTICE OF ANNUAL MEETING
The Annual Meeting of the Stockholders
of the Chicago and North Western Rail-
way Company Will be held at the office
Of the company. 226 West jackson Boule-
ward. in the city OF Chicago. Illinois. on
Tuesday. April s. 1919, at IL o'clock a. m.
FOR the election of directors and the
transaction Of such other business as may
come before said meeting.
Transfer books will be closed on Friday.
March 7. 1919, at the close OF business on
that day, and will be reopened on wednes-
day. April .. 1919
Dated March l. 1919.
WILLIAM II. FINLEY. President
JOHN d. CALDWELL Secretary
New-York tribune., 1919-03-15
FINANCIAL MEETING
CHICAGO. SAINT PAUL, MINNEAPOLIS
AND OMAHA RAILWAY COMPANY

NOTICE OF ANNUAL MEETING
The Annual Meeting of the Stockholders
of the Chicago. Saint Paul. Minneapolis
and Omaha Railway Company VIII be held
Hudson. Wisconsin. on Wednesday, April
Q. 1919. at o'clock a. m, for the election
of directors and the transaction OF such
other business as may come before said
meeting.
Transfer books will be closed on Friday.
March {. 1919. at the close of business
on that day. and VIII be reopened on
Thursday, April 20, 1919
Dated February 2S, 1919
JAMES T. CLARK, President
JOHN d. CALDWELL. Secretary
New-York tribune., 1919-03-15

The Federal Reserve Bank of New
York has put in force the following
schedule of rediscount rates which
apply to bankers acteptances: Maturi-
ties up to Is days, per cent; 16 to
60 days, inclusive, Az per cent; 61 to
80 days, inclusive. Az per cent.
Silver.-London, 47%d, unchanged:
New York, 10lhc, unchanged; Mexican
dollars, 77hc, unchanged.
London Money Market.-LONDON
March 14.-Closing rate for money 3M
New-York tribune., 1919-03-15


ANDREW J. MCCORMACK, Auctione,r
REGULAR AUCTION SALE
STOCKS AND BONDS.
BY ADRIAN II. MULLER & S0N
OFFICE, 55 WILLIAM ST.
WEDNESDAY, MARCH 10, 1919.
at 1880 o'clock, at the
EXCHANGE SALESROOM
NOS. IA AND 16 VESEY STREET
For account OF Executors.
$l,l00 Dry Dock East Bway Battsvv
r. r. Ref. Mtg. Regstd. Income 10,
Bonds and 81 scrip.
so shs National Machinery Co n,sta
'B." Titfin, Ohio
For account of whom 1t may concern
IS shs First Mortgage Guarantees Co
20 shs Metropolitan Casualty Co
10 shs United Gas G. Electric Cornn
Conn. 1st prefd T'
1b0 shs Illinois Zinc Co.
$4,000 New York Florida Lumber Co. ist
Mtg. $50 Pine Bonds due Apl i. 1sie
$4,000 New York Florida Lumber Co. isl
Mtg. 6fo Cypress Bonds due Adj. /.
1919. -
100 shs Rock Island Co. prefd.
100 shs All Package Grocery Stores Co.
prefd.
IL shs United Gas G. Electric corpn
Conn. 1st prefd.
New-York tribune., 1919-03-15

The above rates express the cost of
foreign money in terms of the Ameri-
can dollar. ou bu yam English pound
sterling, say, at $4.75% The intrinsic
parity is $4.865s per pound. Thus you
say either that pounds are at dis
count or that dollars are at a premium,
which is owing to the fact that in Eng
land the demand for dollars with which
to settle accounts in this country is
greater than the demand in this coun-
try for pounds with which to settle
accounts in England.
New-York tribune., 1919-03-15
RelevantCorn1nent
Much Pencil Sharpening

Judging from the activity in Wall
Street yesterday on income tax re-
turns there were many wast minute
men" getting in their reports before
the final gong sounds to-day. There
was much pencil sharpening and much
paper used in figuring out the various
details which are necessary to make
the return. A good part Of the bust
ness day was devoted to this, but
nevertheless time was found to bring
turnover in the stock market of
nearly a million shares.
New-York tribune., 1919-03-15
DIVIDEND NOTICES
KELlY-sPRlRGFlELD TIRE CO.

a Quarterly Dividend of ONE DOLLAR
AND FIFTY CENTS tsl.50l PER SHARE
on the SIX Per Cent. Preferred Stock OF this
Company has been declared. payable April
l. 1919. to Stockholders OF record at ihe
close of business March II. 1919.
H. a. SEAMAN, Secretary.
New York. March 4, 1919.
New-York tribune., 1919-03-15
OLD STYLE

Southern spot markets follow: Gal
sales, 7S8 bales. iIew Orleans, steady,
unchanged at 27.5O; sales, 1,166 bales.
Mobile, steady, so points higher at
$3.50; sales nil. Savannah, dull, un-
changed at 27.25; sales, $50 bales.
Charleston, quiet, SO points higher at
$3.50; sales nil. Norfolk. steady, 25
points higher at 1925; sales, 6s4 bales.
Augusta, quiet, % points higher at
27c; sales nil Memphis, steady, un-
changed at 27.25; sales, 1900 bales.
st: Louis, steady, unchanged at 27c;
sales nil. Houston, steady, 25 points
lower at 27.25; sales, 1,238 bales. Lit
tie Rock, quiet, 25 points higher at
27.25; sales, 812 bales.
New-York tribune., 1919-03-15
'l---------- - - =. : =
DIVIDEND NOTICES
GENERAL, CHEMICAL. Ct

GENERAL CHEMICAL. coMPASs, s,a,s.
e5 Broad ST.. New York. February :. are
The regular quarterly disldrnn a o' ,'ail
and onc-haif per cent. tt II 81 VIII ~ II
April !. 1919, 10 Preferred Stoekno,as.'
record at 3.0o =. A. March Is. iyis&.,
LANCASTER MORGAN. Treasus''
New-York tribune., 1919-03-15
Borrowing Steel

There are indications of a large but
unobtrusive short interest in Steel
common. Brokerage houses have been
receiving calls to lend the stock. One
house received three requests on
Thursday, each for 5000 shares, and it
accepted one of them, enabling it to
borrow none yon the stock at Il of |
per cent below the current call money
rate, with the additional advantage
that it received a loan to the full
market value of the stock, instead of
the merely 80 per cent that the banks
are willing to give. But such requests
to this house are very rare.
New-York tribune., 1919-03-15

sub-Treasury. The Sub-Trcasury
gained $4,000 frcm the banks on
Thursday.
New-York tribune., 1919-03-15
The Dollar in Foreign Exchange

Exchange on Paris made further
decline in the local market yesterday,
franc checks dropping to $50 and
cables to SAC. The weakness of francs
during the past fortnight indicates an
oversupply of bills on Paris. 1t was
reported yesterday that the French gov
ernment might attempt TO stabilize
francs around $50 by using a portion
of its dollar balances.
Other exchanges were steady. De-
mand sterling was held at $4.75N. un-
changed.
Closing rates yesterday, compared
with week ago, follow:
Quoted dollars to the noundN
New-York tribune., 1919-03-15
Wealth Mark kets-Investm

per cent. Discount rates were short
and three months bills 1882 per
cent. Gold premiums at Lisbon 1900
New-York tribune., 1919-03-15

But n 81 ,ooO,o0o,o00 to $780,
100000 year high price? Dur
ing the war we absorbed govern
New-York tribune., 1919-03-15

If we are to maintain our trade
with foreign nations we must ex-
tend them large credits. That seems
TO be generally agreed. In JAN
uary our exports were $623, 100000,
the largest of any month in our
history, and we received only S213,-
100000 worth of imports in ex-
change for them. That left a bal
ance of $41O,OOO,OO0 that must be
paid for in some other way. It
Could not be paid for in gold. 1t
has been pointed out that our trade
balance in January alone exceeds
in value the total production of
gold in the world last year outside
of this country. If the excess of
our exports over imports is not paid
for we will lose our great export
trade. We cannot keep sending
to Europe goods for which we are
not paid. The ultimate reason for
sending such large amount of
goods out is for what we receive in
return.
In only few ways can payment
be made. We can take the few
American securities which Europe
still holds. We can take foreign
private industrial and railroad Sc
curities. We can take foreign gov
ernment securities or we can ex-
tend short and long time credits;
that is, we can create new securi-
ties, which shall be evidence of Eu-
ropean Indebtedness to us. But
there are those who, realizing that
payment must be made, deprecate
all these methods. They say that
all these new securities we take
from Europe will compete with our
own, depressing their price. They
estimate that the amount Of securi-
ties we shall have to take will come
to s1,o00,000,O0O to S1,25O,000.-
600 a year.
One Of them says: can annual
investment by the United States of
S1,250,000,000- in foreign securi-
ties to keep exchanges at parity
is too much to ask" But the object
IS far more than to keep exchanges
at parity. 1t is to maintain our for
eign trade itself. What purchas-
ing foreign securities would do to
our securities is nothing compared
TO what the loss Of our trade would
do to them. Keeping foreign ex-
changes at parity is not an end,
but the means to an end. Unbal-
anced exchanges are not the dis
ease, but the symptom of the dis
ease; and it viii do us little good
merely to get rid of the symptoms.
When foreign exchange is not at
parity 1T is, indeed, an evil in it.
self, for when the exchange of a
foreign country is at discount here
1T means that the foreign country
has 10 pay a higher price for our
goods, and that we can buy foreign
goods cheaper. II foreign exchange
were not "peggcd" lack Of balance
in rates would tend to correct it.
self, for this would become good
country to sell to and poor one
to buy from. But this ultimate
etabilizing of exchange would be
brought about at the cost Of the
loss Of great part Of our export
trade, and that is not desired.
-~~~~~~=@~-----~
But IL 81, 1000, 100000 to s1,250,-
100000 year q high nrice2 Dur.
New-York tribune., 1919-03-15
FINANCIAL BUREAU.
Tribune Building
l54 Nassau Street
Finance 50 Economics
Copyright. 1919. New York Tribune Inc,

Copyright. 1919. New York Tribune Incl
The stock market of yesterday
was a repetition Of the spectacle
witnessed for the last few days.
Most Of the stocks went down
little and few of them went up
very much, making it somewhat diff
ficult to say what "the market" had
done. These violent advances are
indicia of speculative emotion. In
some instances they have their or
igin with a small group of profes-
sional gentlemen who bid them up
in an Unconditional way, but in a
way to incite emotion in others, so
that the others may buy them at
higher prices. Sometimes the ad-
vance is the result of the news.
The 10-point rise of Air Brake yes
terday was the result of the an
nouncement that the company was
making motor trucks. The "stand-
ard" stocks, the railroads, the steel
and the copper shares were in gen.
eral lower; but General Motors and
Maxwell Motors and steamship
shares were dramatically strong.
New-York tribune., 1919-03-15

Bank Cleafings.-bank clearings yes
terday were:
New-York tribune., 1919-03-15

Discount Rates. following table
gives the current rates of the twelve
Federal Reserve banks on commercial
paper for all periods up to ninety days:
New-York tribune., 1919-03-15

Nominal.
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., 1919-03-15

The passing of the Calumet &
Hecla dividend caused somewhat of
furor in Wall Street. 1t has
paid more out in copper dividends
than any other mine in the world.
1t is traded in at Boston, and broke
on the news yesterday from 4O1 to
$50. But it must not be assumed
that the passing of the dividend
was due to lack of earnings. It is
not that the company hasn't the
earnings, but that it needs what it
has. AS the copper companies can
not dispose of their surplus metal
without virtually giving it away,
they are forced upon policy of
carrying it until an actual demand
appears, even at the present price
of fifteen cents. To carry it's sur
plus stocks Of copper the Kennecott
Copper Company had recently to
borrow $12,O00,00O. 1t does not
strike one as sound financial policy
to pay large dividends and then
reborrow the money at high rates
in the open market.
New-York tribune., 1919-03-15
Weekend cotton statistics of the New

Continued on page scvcnteen
The herald., 1919-10-16
JUDGM ENT.

State of Louisiana Civil District Court for
the Parish of Orleans.
| hereby certify, that the End day of
October, 1919, Judgment was rendered in
this Court in the following entitled suit,
in the words and figures following. to-wit:
No 1870 Division ID" Docket 5.
Marx Levy, versus District Attorney for
the Parish of Orleans.
JUDGMENT.
This cause came on this day to be heard,
upon petitioners application for change OF
name;
Present:-yohn P. Sullivan and David
Nuremberg, District Attorney for the Parish
of Orleans, representing the State OF Louis
lana;
When, after hearing pleadings and evil
dence, the Court being of opinion, for the rea-
sons orally assigned, that the petitioner is
entitled to the relief prayed for;
1t is Ordered, Adjudged and Decreed, that
there be Judgment herein, authorizing Marx
Levy the petitioner, to change his name
TO that of Mortimer Bruenn Laurence, which
shall be the true and lawful name OF the
said petitioner after the publication of this
Judgment in the manner required by law;
Judgment rendered and read in open Court
Thursday, October End, 1919.
Judgment read and signed in open Court,
CSigne6 PORTER PARKER, Judge.
In Testimony Whereof, l have hereunto
Court, at the City of New Orleans this 9th
day of October, in the year of our Lord
one thousand nine hundred and nineteen.
F. GRIESHABER,
Deputy Clerk.
Oct H. Nov 49,
The herald., 1919-10-16

Already coats for winter. both in
cloth and fur, have passed and are
daily passing in review before mer-
chants and buyers and reporters who
publish the styles. Certainly no win
ter was ever heralded by more COM
Portable or more becoming garments.
They are fuller than last years mod
els and the same materials that were
so successful then are used to make
them. Duvetyn, velours and similar
cloths appear in lighter weights than
last year so that top coats and suits
may be full and draped without be-
ing clumsy. This ampleness of cloth
makes the top coat easy to slip on and
off and adds to it's warmth, and there
is room under it for panniers and other
arrangements of drapery for wide hip
effects. These are fairly well estab-
lished in the styles and must be reck-
oned with. Heavy homespuns are
used In some of the handsome and
practical new models.
Collars are either of fur or of the
cloth in the coat. They are very coy
looking in either case. The fur col
lars are wide and fit snugly, coming
Sp about the face and chin and very
The herald., 1919-10-16

Hair and scalp treatment given. Growth
of hair guaranteed. l teach Madam c. J.
Walkers method and handle full supply of
her toilet articles. Telephone Jackson
2O42-W. Mrs S. A. Hall, 25O3 Third 1925
The herald., 1919-10-16
RULES TO GOVERN CONTEST.

ALL ANSWERS MUST BE SENT IN NO
LATER THAN FRIDAY EVENING. Yo6R
p1ECE Of PAPER NOT LARGER THAN
An ORDINARY POST CARD AND YOC
Should WRITE ON THE CARD AS
FOLLOWS ONLY: nnree
FIRST YOUR NAME AND ADDRESS.
SECOND, THE MISSPELLED WoRDDr
rISEMENT IN WHICH IT APPEARED:
THE MIssPELLED WORD CONTESI
APPLIES ONLY TO OUR CLASSIFIED
COLUMNS AT PRESENT ON PAGE -
THE PRIZES WILL BE AWARDED E .S0T
TESTANTS.
The herald., 1919-10-16
Chance in Japan's Trade.

Japan's exports for the first three
months Of 1919 were valued at $751;
372, 900 and her imports at $239 .599,-
600, showing an adverse balance OF
So 227 900. The adverse trend that
has been maintained since the begin
ming of this year is taken as an indi-
cation that Japan's business is losing
the war impetus and is going to run in
its normal groove, states Japan Adyer-
User
The herald., 1919-10-16
The War Idea.

Farmer Smith was painting his barn
battleship gray, and every so far he
would mark off q fake window and
smear black stripes down it.
"Are you crazy, JimT asked neigh
Dor, "what you doing that fer?"
"Cammyfage," was the prompt an
sver "at distance of fifty foot,
tramps will think it's tn county Jail.
Believe me, Tn larnin' something new
49, - uror ovarv daY-
The herald., 1919-10-16

SWEDISH body massage given by colored
masseuse, diploma. Professor Yhnelps
School, home or residence, 643 Dryades,
Main SO
The herald., 1919-10-16
Misspelled Word

The word cents in the ad OF Gus
Betat & Son was mis-spelled in our
last issue. Those to receive the
Jacobs candies are Mrs. }. Barrols'
800 Seguin street, Mrs. w. L. Creath
600 Pelican avenue, and Mrs. ]. Bern
stein. 141O St. Charles street.
The herald., 1919-10-16

SWEDISH massage, eucalyptus and salt
glow treatment. Nine. Emma Bradt, 1870
Magazine St. 12-25.