davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1919-04-03
Wall Street Items

H. X. Reefs has been elected director
OF the American Smelling g. Refining Com
pany.
Robert Stevenson. jr. formerly with Kis-
sell. Kinncut & Company. has become asso-
ciated with John Burnham & Company OF
Chicago.
Lieutenant Colonel Merrill G. Baker has
been elected president Of the American Inter-
national Steel Corporation.
Charles w. Cushman K. M. Willis and
Nat Tyler. jr., have been elected directors
Of the Savage Arms Corporation, succeeding
Charles A. Dana. James w. Rawle and
John Stevenson. jr., resigned.
The Mechanics & Metals National Bank
has taken advantage Of the recent amend
ment to the Federal Reserve law and has
established trust department.
Hnlsey. Stuart Company have entered
the first subscription for the new War
Finance Corporation one year five per cent
bonds. Their subscription will be for
y2. 500, 900 or more OF the bonds.
Mark Cowcn. OF Mark Cowen d Company.
has hr"n el""fed director Of the New
New-York tribune., 1919-04-03
RelevantCo
Salt Water Explained

Quite sensation was created in the
market for OIL securities yesterday
when one of the Wall Street news SER
vices printed story that the big gush-
ing we'll of the Island Oil and Trans
port Company in Mexico was produc-
ing salt water. This is the well over
which the ill-fated Metropolitan Pc
troleum Company began the litigation
with the Island company and is located
on lot No. in the Tepetate district.
wee President Lasher, Of the Island
on company, came out later in the
day with an official denial of the re-
port and said that the we'll is show
ing no greater percentage of salt
water than other wells of similar capa-
city in the same district. Recently the
famous Potrero del Lamo gusher Of
the Mexican Eagle Company in the
same district in Mexico, quit produc-
ing oil and began to spout salt water.
This and other similar developments
have given rise. to theory that a
part of the Mexican oil pool floats on
salt water.
New-York tribune., 1919-04-03
Repercussions

Atlantic, Gulf e. West Indies =.
will sell much higher in the near future.
-Wrenn Brothers.
Go ahead now or quit business en-
irely.-Galbraith Miller, jr.
The trouble with the agitator's ideas
is that they won't work.. Ogden
Armour.
The debt of America should be held
by the American people and not con-
centrated in the banks. - .Sccrctaru
Glass.
The regulations within industry often
affect the lives Of the workers even
more than the laws of the and.-J6hn
p. Frcy
Reduced to the simplest terms, the
pound sterling, franc, and to lesser ex-
tent the money of other of our allies,
has been given II make-beieve rather
than an actual value for a considerable
period.-The Financicr.
The market is under considerable re-
presson.- Clark. Childs &c Co.
New-York tribune., 1919-04-03
Carries Investments at Cost

Investments by the American Inter
national Corporation in the securities
Of other companies, George j. Baldwin,
senior vice president, informed stock
holders at the annual meeting .yester-
day, are carried on the company's books
at cost, except where the market price
is lower than the cost price. In this
case they are carried at the market
quotation.
Mr.. Baldwin stated that in no in
stance was the market price of securi-
ties owned below cost, except IN the
case of small amount of French
short-term notes, which had not been
written down. ms they would undoubt-
edly be paid off. The American Inter-
nationals holdings consist mainly OF
securities of the International Mercan-
tile Marine Company, the United States
Industrial Alcohol Company, the unitea
Fruit Company and the United States
New-York tribune., 1919-04-03

Why Stocks Are Cheap
ssDEOPLE are forgetting that we

1GOA LIZ are 1OIScttilS lIidL we
are now in peace times, and
that we have government which is
doing all in it's power and will con-
tinue to do everything possible to
foster business" Benjamin Block, of
Block, Maloney & Co., said yester-
day.
Under the circumstances, with
such a brilliant future assured,
stocks are very cheap at the present
level, and our commanding position
in the world will bring to our chief
industries new high records of earn
ings. This is one of the many rea-
sons why l am optimistic and | con-
tinue to advise the purchase of
stocks.
"Many persons seeing General
Motors and United States Industrial
Alcohol go up 80 points wonder at
it, without stopping TO think that it
may be justified by large earnings,
but a moments thought makes it
clear that at current prices there
are many other similar exhibits and
attractive opportunities. Bethlehem
Steel in three years earned 5000 a
share on its common stock, yet it is
now selling in the 70's. United
States Rubber, now earning $50 a
year, or close to $50 in two years, on
it's common stock, is selling in the
SOS. The United States Steel annual
statement showed cash surplus
outstanding nearly as large as the
present market price of the common
stock, and just as steel was the lead
ing industry Of the war, so also un-
der peace conditions; with a great
reconstruction programme coming,
with the necessity of replacing de-
pleted stocks of steel, owing to gov
ernment communicating for war, the
earning outlook of leading steel COM
panies is brilliant"
New-York tribune., 1919-04-03
Baldwin in Limelight Again

Baldwin Locomotive was strong
spot in the equipment group. 1t sod
from S!A to so and closed at S9A, up
R. The "old" pool in Baldwin is still
operating. 1t is learned that the pool
managers distributed a large part of
their holdings on the recent rise above
90 butAfterward replaced the stock on
the dip to 85. More information on the
proposed recapitalization plan for
Baldwin is expected to be made public
shortly. 1t has been reported that the
directors propose to double the stock
by increasing it to S4O,O0O,O0O, with the
declaration of stock dividend. After
that it is proposed to pay dividends at
the rate of per cent year on the
stock.
New-York tribune., 1919-04-03
Good" Buying in Coppers

Buying Of copper stocks in the last
two or three days has been described d
as good" BY that it is meant that the
purchases represent accumulation by
strong interests or "inside buying. >
Whether this be the fact or not, it is
quite evident that speculative senti-
ment as regards the coppers is much
more cheerful. An important influence
has been the tendency of the selling
agencies to advance their prices for the
metal. 1t is argued that comparatively
few consumers of copper will get their
metal requirements at the low prices.
because they will hold off and miss
their market. That usually is the case
when every one is looking for lower
prices.
New-York tribune., 1919-04-03
Going Like slot Cakes"

Subscriptions to the new issue of
$200,000,00O War Finance Corporation
one-year per cent gold notes reached
huge proportions yesterday. Bankers
said the notes were going like shot
scribed for big block of the bonds If
it's own name sold several blocks of
100000 each to insurance companies
and brokers and other interests. At
the Federal Reserve Bank of New York
it was stated that some of the banks
which had subscribed for the notes had
sold the amount of their subscription
to clients and had made application for
additional notes. 1t was predicted that
the issue would be very quickly over
subscribed.
New-York tribune., 1919-04-03
Misplaced Shorts?

The short interest in Bethlehem "B"
is of large proportions. That, at least,
is one explanation advanced for the re-
cent action of the stock, which at times
has developed great strength. In the
gossip of the commission houses it is
reported that the "B" stock will go to
80 or IS. The Bethlehem corporation
is still seeking an outlet for its huge
manufacturing capacity 1t is denied
that the company plans to go into the
manufacture Of tractors
New-York tribune., 1919-04-03
Undiscussed Dividends

1t is now pretty definitely established
that the recent sensational advance in
United States Industrial Alcohol com
mon stock has been owing more to the
progress the company has made in di-
verting the capacity Of its plants to
peace time uses than to prospects of a
melon cutting in the form of stock or
cash dividends. Horatio S. Rubens,
chairman of the board, in answer to in
quiries yesterday, made it plain that the
matter of extra dividends has not vet
been discussed officially. "If they have"
he added, "it has been only in discus
sions among individuals"
New-York tribune., 1919-04-03

The above rates express the cost of
foreign money in terms Of the Amer-
can dollar. You buy an English pound
sterling, say, at s4.5S. The intrinsic
parity is s4.s65s per pound. Thus, you
say either that pounds are at dis
count or that dollars are at 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., 1919-04-03
&. b. Smith Heads Reserve
City Bankers Association

NEW ORLEANS. April 2.-George B.
Smith, assistant cashier of the Con
tinental and Commercial National
Bank, Chicago, was elected president,
and Cleveland, Ohio, was chosen as the
1920 convention city Mt the concluding
session here to-day of the seventh an
nual convention Of the Association Of
Reserve City Banks. E. r. Rooney,
assistant cashier of the First National
Bank. Boston, was elected vice-presi-
New-York tribune., 1919-04-03
Gasoline Price Higher

NEW ORLEANS, April 2.-Retail
prices of gasoline at retilling stations
of the Standard Oil Company, Gulg Re-
ining Company and Liberty Oil Com
pany, to-day were advanced to 93 cents
q gallon, the rate charged before the
price war started last week which re
suited in fifteen cent gasoline to con
sumers. No explanation was given for
New-York tribune., 1919-04-03

The American Trust Company's state
ment as of March 81. shows that since jan
uary 81, 1919, its deposits have increased
over LOT per cent. This company opened
for business on January 81, last.
New-York tribune., 1919-04-03
Finance - Economics

Notwithstanding a reduction both
in the Midvale Steel and Inspiration
Copper dividends, stocks advanced,
those two issues among them. A dis
tinction ought to be drawn in mar
ket parlance between overdiscount-
ing bit of news and overcommit-
ting on it. The Inspiration Copper
dividend action was about as ex-
pected. The stock advanced after
the appearance of the news, not be-
cause the short sellers had thought
that the reduction would be greater
than it was, but because too many
of them, without consulting each
other, had sold too much stock short
for such an event; and when the
news was out they had to buy it all
back, with few actual holders dis
turbed into selling. 1t was merely a
repetition of the spectacle enacted
quite few times in recent weeks
after a steel tonnage report, after
the "porphyry" copper quarterly re-
ports, and after their dividend re-
ductions.
New-York tribune., 1919-04-03

London Money Market. - LONDON,
April 2.-Closing rate for money, 31s
per cent. Discount rates we're, short
and three months bills, 39s per cent.
Gold premiums at Lisbon, 5000.
New-York tribune., 1919-04-03

I'D; New York, 101 nc, unchanged;
Mexican dollars, 77kc, unchanged.
Bank Acceptances.--Kates were un-
changed yesterday.
Thirty Sixty Ninety
Spot de- days days. days.
livery: Per centPer cen;.Per cent
Eligible
member
banks .4h@4 4A@4h 4n@4A
Eligible
n0n-mem-
Der banks 4h@4 4h@4H 47s@4h
Ineligible
bank bills.5H @4M 5M@4Ia 5A@4M
For delivery within thirty days:
Per cent.
Eligible member banks. ........ air
Eligible non-member banks. 80. 4E2
Ineligible bank bills. .-........ 6
New-York tribune., 1919-04-03
Nominal.

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., 1919-04-03

Discount Rates.-The 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., 1919-04-03

T~IME HAS CLEAR
Il LY demonstrated
many advantages of
the organization over
the individual in ca
pacities of trust, both
for persons and for COR
porations.
New-York tribune., 1919-04-03

The violent advance in the value
of an English pound from $3.50 on
Tuesday to $4.63 yesterday was
ascribed to stampede of short
sellers on reports that the British
government was renewing it's sup
port of the market.
New-York tribune., 1919-04-03
Money and Credit

Call money opened and renewed yes
terday at per cent, the prevailing
level of Tuesday, but the quotation fell
in the early afternoon to Az, and
closed at Az. Loans on all industrial
collateral were made at u to l per cent
higher.
While there is still little lending at
81 per cent for sixty and ninety day
periods on industrial collateral, some
of the banks yesterday raised their
asking quotations to 6 per cent
Yesterday. Year ago.
Per cent. Per cent.
Call money:
On mixed collateral 5 3H
On indus. collateral 5Ia
Time money (mixed collateral):
Sixty days ........ 5I2@534 6
Ninety days ....... 5H@54 6
Four months ....534 6
Five to six months. 534 6
New-York tribune., 1919-04-03

I'm order, therefore, to round out
Il our service and to enable our GUS
toners to concentrate their financial
business in one place, this Bank has
recently availed itself of the privilege
granted by the amended Federal Re-
serve Act, and established TRUST
DEPARTMENT, which is now fully
equipped to serve in every capacity of
trust.
New-York tribune., 1919-04-03

A news ticker remarked yester-
day: "The probable extent of the
March slump in untitled tonnage of
the United States Steel Corporation,
of which official announcement will
be made April 10, is causing consid-
cradle discussion owing to it's i'm
portance in indicating the trend of
industry" The United States Steel
Corporations figures of untitled ton
mage have no significance unless you
know also something of the rate of
shipments. But it would be partic-
ularly unfair to draw any differences
from the figures to be published
next Thursday. They will show the
effect of a suspension of orders by
buyers for the special reason, no
'cnger effective, that they were wait
ng for the government to fix prices
The prices were fixed March 20, but
buying has not yet begun because
consumers want time to prepare
specifications on the basis of the
ew price schedule before them
New-York tribune., 1919-04-03

The really important considera-
ion affecting the steel companies
and the steel stocks will be the de-
cision of the railroad administra-
ton and other government bodies on
whether they will begin buying on
the level sanctioned and brought
about by another government de-
partment. The "Iron Age" esti-
mates that the railroads buy nor
mally Is per cent of the country's
coal and 20 per cent of its steel.
There seems to have been some
misunderstanding Of the statement
printed in this column yesterday:
IF PERSONS full income is derived
from security holdings he can escape
the incom. tax wholly" By this was
simply meant that it is possible for
him to sell all of his present taxable
holdings and buy tax exempt gov
ernment bonds or the coming gov
ernment notes in their stead.
New-York tribune., 1919-04-03
Maturity

The Federal Reserve Bank of New
York has put IN force the following
schedule OF rediscount rates which
apply to bankers acceptances: Maturi-
tias up TO s days, per cent; l6 to
80 days, inclusive, Az per cent; 81 to
80 days, inclusive. an per cent.
Bank Ciearlngs.--Bank clcarings yes
tcrday were:
Exchanges. Balances.
New York -. .$e5s, ,0s4,177 $9e, e,37e. .os3
Baltimore ..... 716,193,164 5,2o0,530
Boston ........ 56,609,68o 12,419,803
Chicago ....... 137,o74,908 11,253,334
Philadelphia ... 8s,4s7 ,286 19,9o4, 1888
Sub-Treasury.--The Treasury lost
2s34,0o to the banks on Tuesday.
Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1919-03-29
'DRESS-UP' week
NOT CONFINED TO
CLOTHES ALONE.
Omaha Merchants Bending
Every Effort to Make Event
Gala Period Of Shop
ing for Spring.

The promoters of "dress-up''
week, which will be observed in
Omaha next week, wish to stress
the thought that the spirit of this
nationwide movement is not con-
fined to wearing apparel.
Buying a new hat, pair of shoes,
suit, dress or other article Of wear
will be in line with the occasion.
The Associated Retailers, however,
wish to explain that dress-up week
also includes dressing up the in
terror of homes.
During the period of the war
many husbands and wives postpon-
ed the purchase of household fur
nishings which otherwise they would
have obtained. Next week will be
the particular time to make these
deferred selections.
Wifey, for instance, has gone
without a buffet for several years
because of the exigencies of war.
She was glad to make the sacrifice.
1t will be the patriotic duty of friend
husband to buy her that buffet next
week. Or it may be set of new
dining room chairs, or a piano for
the daughter who will be graduated
this spring.
An easy chair for the missus or a
new rug for the parlor; some new
dishes to take the place of those
which have become passe. a new
bedstead for the spare room, and
so on, as the case may be.
Merchants are bending every eff
fort to arrange their stocks and
show windows so that prospective
buyers may be interested. 1t will be
a gala shopping week in the, glad
some springtime, and it is believed
that no home is so humble but that
the occupants will be able to
brighten their freside, according to
their ability.
The Omaha Athletic club will give
dress-up dinner on Monday night,
from E to o'clock. following which
dance will be held.
Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1919-03-29
Boys, Who Appear at
Central High in Old
Clothes, Sent Home

When 50 boy pupils appeared at
Central High school yesterday
dressed like refugees just in from a
long march, Principal ]. G. Masters
sent them all home with instructions
to don attire which would be more
in keeping with the dignity of Cap
itol Hill.
This is an annual stunt at Cen
trail High. The idea is to appear
at school in old and grotesque
clothes. When so eelebrants of the
occasion met at rendezvous on
the high school grounds in the morn
ing, the other pupils, and even the
teachers, were highly amused.
Some of the boys displayed in
genuity in their sartorial divertise-
ment. Principal Masters admitted
that the situation was provocative
of examinations, but he did not
believe that such tons
served the best interests of the
school.
The boys were disappointed when
Principal Masters sent them home,
because most of them had worked
hard to make themselves appear
ludicrous and they wanted to amuse
the other pupils and the teachers.
Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1919-03-29
BUSINESS men TO-
CREATE FUND TO-
ADVERTISE LOAN |
More Money Will Be Spent in
Advertising V. Loan Than
in Two Other loans
Combined.

The Omaha Victory Liberty loan
committee is great believer in ad-
vertising. 1t realizes that v the
glamor of war is over. and the peo-
pie are not sufficiently acquainted
with the necessity of oversubscrib-
ing the coming loan.
The committee has deliberately
set out to mold public opinion
through the printed page. Since the
government will not pay for adver-
Using space, fund is being raised
among the business men of Omaha
to pay for the advertising.
The committee is not asking for
any free space or reduced rates from
Omaha newspapers. 1t realizes that
advertising space is the stock in
trade of the newspaper, and there is
no more reason why paper should
give its space away for government
activities any more than clothing
manufacturers should be asked to
donate the uniforms which the SOL
diers wear.
Committee of Experts.
TIC COlIlIlllltcS ICdllZCS THAT large
space is necessary to impress the
public. AS a consequence more
money will be spent in advertising
the Fifth loan than was spent in
the previous two loans combined.
The advertising is in charge of a
committee of experts, who are do
mating their services. If this force
were working under salary it would
cost the Victory loan organization
over $500 day. The committee has
been at work month and will serve
through to the end of the campaign.
1t will have given 10 weeks time. or
over $1,000 worth of service, before
its work is completed.
The committee consists of Leo
Boxell, Lloyd Mattson, ]. ]. Isaac
son, E. T. Swobe, A. A. Hoopingar-
ner, Frank Builta, James Hender-
son, Sam Rees, H. M. Thomas,
Earle Alien, Earl Bell, E. ]. Berg,
Frank Selby, ]. D. Weaver and Ar
thur Thomas.
Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1919-03-29
Old Man, Said to Be
Sleepwalker, Found on
Porch in Underwear

When police responded early yes
terday to burglar call sent in
the central station by Mrs. Emma
Nygaard, 2807 Burt street. they
found Peter Nelson, 20 years old,
clad only in his underwear shivering
or the front porch. He said he was
lost.
Nelson's sister, Mrs. John Gil
quist, SOIL Webster street, thinks
the aged man walked in his sleep.
Nelson was taken in charge by
his sister after spending the plight
IN the matron's department. at the
city jail Mrs. Gilquist brought
clothing for him.
Police said Nelson had narrowly
escaped death when Mrs. Nygaard's
son, awakened by his mothers cries.
fred several shots from an upstairs
window.
Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1919-03-29
Paid SIS for Her Support.

Mary Fern Bendorf declares in a
petition for divorce, filed yesterday
in district court, that her husband
Frank r. Bendorf, entered the army
and later transferred to another regi-
ment under the name of James Brad
ford, so that she was unable to get
an allotment from his wages.
They were married in Omaha in
August, 1917, and she alleges he has
contributed only SIS to her support
in their whole married life. She
says he earns $18 week as stock
man in a down town department
store and that she has been COM
PEELED to work to support herself.
She wants her maiden name, Reed,
restored.
Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1919-03-29
Contract Is Let for First
Unit of HIGGINS Packing Co.

A contract for the construction of
the first unit of the Higgins Pack
ing company's new plant, South
Side, was let on Thursday afternoon
to Joe Hansen of Council Bluffs.
The building will be 50xl00, four
stories, and the estimated cost is
$4,000. 1t will be a cold storage
building and the equipment will
cost $4,000 Other units of the
plant will follow this work.
Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1919-03-29
State Agent and 3 Others
Violate Traffic Rules

Four persons were fined in police
court this morning by Judge Fitz-
gerald for violation of the traffic
ordinances.
Mrs. A. Fe1dman, 4815 Davenport
street, paid $3.50 and costs for pass
ing with her auto a street car at
Twenty-ninth and Farnam streets;
M. Forbes, 1722 North Twenty
fourth street, was fined $3.50 and
costs for passing a car at Twenty
second and Leavenworth streets; J.
A. Kavanaugh, a salesman for the
Oldsmobile company, fined $3.50 for
speeding, and P. c. Smith, a state
liquor agent, paid 81 and costs for
OBJ tructing fire plug.
Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1919-03-29
Explosion of Oil Tank g.
Steamer Kills 30 People

Veni,e, March 28.-(Havas)-
Thirty persons were killed and 80
others injured by the explosion of
an oil tank steamer here yesterday.
The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1919-08-05

the railroads have not purchased sup
piles with any freedom, and their de-
mands for rolling stock and other
equipment will prove enormous owing
to the urgent need of replenishing
after prolonged war strain. also a
period OF enforced depreciation and
starved improvements. Should the
status of the railroads be fully restored
as to earnings. capacity and credit. a
great development may be looked for
in this important industry, which
owing to unwise legislation and harsh
control has made little or no progress
in a decade.
The railroad system of the United
States. says the Review. was probably
never so far behind in public efficiency
as. at present: and for this condition
the country has to thank uninteiligent
and unjust representatives who pre-
ferred catering to public prejudice
rather than public convenience.