davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1919-05-03
Cayeat Emptor

"Caveat emptor" is time worn
phrase, but it is one that is particularly
applicable to the present craze for buy
ing oil stocks on the curb without ade-
guate investigation. An instance cited
by q banker yesterday to illustrate
with what little regard to values the
public is conducting its purchases was
the case of a man who had a lease on
few acres of land in the Ranger fields,
which will expire on July /. He had no
money to buy drilling amchinery, but
he conceived the idea of forming a
company and floating the stock on the
curb. This he<did at 40 cents share.
The price now is in the neighborhood
of 81 share.
New-York tribune., 1919-05-03
Ohio Cities Gas

The position of Ohio Cities Gas was
summarized thus yesterday by Chan
dler Bros. & Co: Based on the
current market prices for the shares
OF representative oil companies, Ohio
Cities Gas seems to US to be unusually
attractive Stock of Mexican Petrol
cum, Texas, Pan-American Petroleum,
Standard Oil, Royal Dutch and SINH
lar companies at present market prices
and present dividend rates yield well
under s per cent on the investment.
Ohio Cities Gas paying S4 year in
dividends and selling in the 40s yields
better than 9 per cent on the invest
ment. 1t seems clearly to be a case
where this company's oil shares are
selling "out of line" with other good
oil shares. For a speculative invest
ment presenting exceptional possibili-
ties Of price appreciation, we recon-
mend the purchase at current prices
of Ohio Cities Gas common stock"
New-York tribune., 1919-05-03
Development of Cunard
Line During the War

LONDON. Thursday. May l British
Wireless Service The development
Of the Cunard Steamship Company was
saown % have been very encouraging
and entirely satisfactory" during the
war in reports submitted at the an
naal meeting Of the company held yes
terday. 1t was pointed out that on De-
clInber 81, 1903, the vessels belonging
% the company had total capacity Of
5000 tons, and that the company
now either holds or controls more than
100000 tons. and has 800 900 tons Of
sn pping under construction for vari-
GUS companies
New-York tribune., 1919-05-03

radical, that is not contained in pre-
vious legislation or in the statutes of
colonial times (during Spanish domina-
tion). The rights of third parties which
have been acquired in equitable form
would be respected by the proposed law
when those rights have a basis not con-
trary to our laws. This measure de-
serves the sanction Of Congress.
"The participation of the state under
the proposed law is less than that i'm
posed by other nations for petroleum
production. With regard to the laws
for the public welfare and private we'll
being of the people, the executive
power has had no other guide than
strict equity
New-York tribune., 1919-05-03
Money, Credit and Exchange

Call money opened and renewed
yesterday at 512 per cent, compared
with 8 per cent on Thursday. 1t de-
clined during the day to Az per cent,
the lowest rate in nearly month.
Loans on all-industrial collateral were
one-half of 1 per cent higher.
The time money market is quiet, with
little lending at 5a4 per cent for
nearby dates.
The ruling rates for money yester-
day, compared with year ago, were as
follows:
Yesterday. ago
Per cent. Per cent
New-York tribune., 1919-05-03
hauo hoo

died out. Transactions have been in
terfered with by erratic exchange rates
and the higher prices asked by mills.
representatives of Italian interests are
said to be in New York trying to ar
range credits for the purchase Of
American cotton. Exports yesterday
were 51,957 bales.
ln the local market spot cotton was
quoted at 2915, decline of 25 points.
The Cotton Exchange will be closed
next Tuesday to enable members to
participate in the welcome to the 77th
Division OF the expeditionary forces.
NEW STYLE
New-York tribune., 1919-05-03
L. S. Rubber Above Par

Although United States Rubber COM
mon pays no dividends, trading in the
stock was the feature of yesterdays
market. The net advance at o'clock
was 6A4 points, with the closing price
at 100as, new high. The high of 1918
was 8012. Talk has been heard for
several months that the directors are
considering placing the stock on 6
per cent basis. In the meanwhile the
element of uncertainty seems to be
adding to its attractiveness from the
speculative viewpoint.
New-York tribune., 1919-05-03
LIVERPOOL
NEW CONTRACTS
, III s { c n a n C c
Cereals

Wheat--"The Modern Miller" SAYS
some deterioration is shown in the
plant in winter wheat states because Of
lack of sunshine. Yellowing of wheat
and loss OF vlgor are reported from
certain parts Of Illinois. Indiana and
Ohio. This is attributed TO an affection
hitherto unknown in this country. but
known in Australia as "take-all" and
IN France as foot rot" The area in
volved is put at 100000 acres. The De
partment of Agriculture is about to be-
gin thorough investigation of the dis
ease. Reduction in spring wheat acre
age IS said to be assured because Of
unfavorable weather. Receipts at New
York yesterday were 1877, 400 bushels.
Corn--Corn prices climbed back yes
terday to the level at which they we're
last Monday and which caused the Fed
eral Wheat Director to take action that
broke the market on Tuesday. May
corn closed yesterday at Sl.67A; or
Monday 1t closed at $1.657s; July it
closed at s1.65& on Monday it closed
at S1.65. 1t would appear from this
as If Mr.. Barnes's offer to resell -four
TO the domestic trade will not be eff
fective in keeping down the price of
grain.
The market was largely influenced
yesterday by Mr.. Barness 3 remarks at
Duluth. Prices advanced sharply on his
reported statement that he expected a
shortage in food grains OF 800 900 900
bushels because of the fact that Rus
STA, Rumania aDd India had stopped
exporting grain. Prices declined on
his reported statement that the Grain
Corporation had all the supplies it
needed for export during the rest of
/ the season.
General factors making for higher
prices were disappointing receipts, u
New-York tribune., 1919-05-03
No Reduction in Fares
For Harvest Worker.

WASHINGTON, May 2.-Requests of
Kansas agricultural organizations that
reduced railroad fares be granted to
farm laborers in order to induce them
to assist in the wheat harvest this
summer have been denied by the rail
road administration
Senator Curtis, of Kansas, was mott
fed to-day that it would be contrary
to established policies to grant such
reductions.
New-York tribune., 1919-05-03
Ohio Cities Buys Oil Co.

Reports from Columbus, Ohio, stated
yesterday that the Ohio Cities Gas
Company has purchased the Moore Oil
Company, said to be doing q gross
annual business of $5,OO0,OOO In ad-
dition, it was announced that the COM
pany does a jobbing and retail busi-
ness in oil in Cincinnati, Columbus
and Logansport, Ind
New-York tribune., 1919-05-03
The Dollar in Foreign Exchange

Sterling exchange rates advanced
again yesterday, demand bills going to
$4.67 and cables to $4.6S
Rates on Paris eased off, while
Italian lire displayed somewhat t
irmer tone. The neutral exchanges
were steady
Closing rates yesterday, compared
with week ago, follow:
(Quoted dollars to the pound.)
New-York tribune., 1919-05-03
"DangerOusly Fast

THE years to come are bright with
promise" say Clark, Childs. e.. Co.
at the close of the week, "but the
markets of to-day are dangerously
fast. Moderation and patience are
qualities that just now are more
vitally needed in Wall Street than
bravado and the evident desire Of
spectators to discount the coming
years progress in single session y
New-York tribune., 1919-05-03
Low Priced Rails Popular

Several brokerage firms are now ad-
vising the purchase Of the low priced
have seen their worst days. Tips to
buy Frisco, Rock Island, NJ. X. & T.,
Missouri Pacific and Pere Marquette
have been making good. Yesterday
Denver & Rio Grande preferred ad-
vanced 21a points to 1O19, despite the
fact that the Western Pacific has a
$3S,O00,000 judgment against the com
New-York tribune., 1919-05-03

Not enough attention seems to
have been given to the extent and
significance of the present use of
Liberty bonds as margin. When
twenty million people subscribed to
issues of the Liberty bonds the ranks
of investors were enormously aug
mented. 1t was predicted that the
investment habit, having been ac-
quired, would make itself felt event
ually in the stock and bond markets.
1t has not yet been greatly noticed
in the bond market, for the sufficient
reason that government loans con-
tinue to absorb surplus investment
funds. But the stock market effect
Of the Liberty Loan sales has been
twofold. They have aroused an in
terest in securities, and they have
provided the funds with which to
trade in them. Thousands of per-
sons who would not otherwise have
saved enough to speculate now have
savings in the form of government
bonds. The bonds which they are
everywhere putting up as margin
are supplemented by cash. But the
bonds have been used to make
margins deeper. 1t is the present
extraordinary thickness of margins
which has made the internal condi-
tion Of the market as stable as it
is, notwithstanding the recent spec
tacular and uninterrupted rise
People who think that an unusual
craoc11l o i1rc foxor hos hi4 +h;c oo-,s.
New-York tribune., 1919-05-03
Bullish on Cotton

S. B. Chaplin & Co. say on cotton:
"The situation and outlook Of cotton
still looks to us as bullish one for
the long pull, particularly from the
enormous requirements of European
and Continental spinners and the
prospect of the acreage for the new
crop being sufficiently reduced to pre-
vent the development of more than a
moderate crop even under the most
tavorab weather conditions. We
would therefore continue to favor pur-
chases on any fresh declines in the
late months than to suggest short
salesn
New-York tribune., 1919-05-03
Sugar and Coffee

Sugar.-It Is rumored in the sugar
trade that there viii be a continuance
next year of government control for the
United Kingdom and that the United
States Food Administration may pur-
chase the next Cuban crop. There
were no purchases reported through
the Equalization Board
New-York tribune., 1919-05-03
Finance Economics

try must have an embarrassing time
with the figures of business failures.
Dun's reports show 543 failures in
the United States during April, the
smallest monthly total since returns
were first prepared in 1894.
New-York tribune., 1919-05-03

Coffee Futures Coffee made nec
gains Of II to 65 points. The opening
was at advances Of 45 10 so points on
active buying. This rise came as a
surprise TO most traders, it was said,
American houses in Santos were de-
clared to be heavy buyers in the dis
tant months. European and Western
interests also bought. The market re-
acted on realizing, but steadied on new
buying. Reports of a short crop in
Brazil continue to be heard
Prices for future contracts follow;
New-York tribune., 1919-05-03

Copyright. 1919. New York Tribune. Inc.)
Probably the most interesting
phase of yesterdays market was the
gains of l to points in standard
railway shares. The railway shares
since the present movement started
on February 10 have advanced an
average of only points, compared
with three times that advance in
industrial issues. This is rather
surprising, in view Of the fact that
great basis of our present and
prospective prosperity is the un-
precedented wheat crop and that the
roads must directly benefit by that
crop. In spite Of political considera-
tions and rate levels volume Of
traffic must count.
New-York tribune., 1919-05-03

Great activity is reported in For
mosa teas, and prices are about , cents
higher -han last week. Sales Of sew
eral thousand packages in lots of 500
or less have been made. The trade ap-
pears TO expect a decided Improvement
IN the prices of all teas.
Quotations for lots of so and 100
packages follow:
New-York tribune., 1919-05-03
Consolidated Exchange

trs'. of trade On this exchange. 10 shares
lraazaetiona and prices yesterday for tho
rsDro active shares s,tloy.
New-York tribune., 1919-05-03

London Money Market.-LONDON
May 2.-Closing: Bar silver, 48 11-16d
per ounce. Money, 31s per cent Dis
count rates: Short and three months
bills, 3 5-8 per cent. Gold premiums at
Lisbon, 100.
New-York tribune., 1919-05-03
Steel Conference Thursday
Rail Administration and Pro-
dncers VIII Discuss Prices

WASHINGTON, May 2.-Representa-
tives Of the railroad administration will
confer with steel producers in New
York next Thursday morning to dis
cass the price schedule approved by the
Industrial Board. This was learned to-
day at the offices Of the board. 1t was
said that members Of tre Redfield com
mittee would not attend.
Ebert H. Gary, chairman Of the
United States Steel Corporation and
Of the general committee Of the Ameri-
can Iron and Steel Institute, was not at
his office at II Broadway yesterday,
being confined 20 mis- home with q
ght cold. Other representatives Of
the steel industry, however, repeated
statements previously made by them
that the entire trade was a unit in op-
posing any further reductions in prices.
Hope was entertained that with the
presentation of revised cost sheets to
the representatives Of the railroad ad-
ministration the Director General
would De Convinced that reductions
could not be made ( wages are TO be
maintained at their current levels.
New-York tribune., 1919-05-03

Dispatches from Chicago anent a
proposed new blue sky law indicate
that Illinois is dealing with the prob
lem OF fake securities with remark
able common sense. The new nro-
posal IS said to have been agreed
upon by the Governor, the Secretary
of State and banks throughout the
state. 1t will provide for the aban-
donment Of the practice Of licensing
venders Of securities. 1t reouires
every person floating securities to
file with the Secretary of State the
fullest of financial statements. pre-
pared under oath. 1t provides funds
to finance complete government in
vesftgation of all statements. 1t pro.
vldes that a copy Of all information
filed with the Secretary of State as
to any fotation must be mailed to
any person requesting it.
This is apparently based on the
British Companies consolidation
Act of 1908, and that act calls for
full information on underwriting
profits and an explicit statement of
the nature Of the business the cor
poratlon purposes to engage in, to-
gether with all contracts made in
fotation. The English investor can
get his desired information by the
payment of shilling at Somerset
House. The principle of such law
is that all the facts should be made
available and the buyer left to Judge
of the security himself. The ap-
pointment of bureaucratic officials to
pass on the merit of securities is
likely to be unsatisfactory and
dangerous. It would probably re-
suit in vexatious delays at best.
Meritorious projects might be turned
down simply because they involved
new invention or something else
which might not strike the official
mind as feasible. Bribery would be
possible. Attempts to protect the
investor or speculator against him
self are usually not successful.
New-York tribune., 1919-05-03

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., 1919-05-03

The above rates express tho cost Of
foreign money in terms of the Ameri-
can dollar. You buy an English pound
sterling, say, at $4.65. The intrinsic
parity is S4.86as per pound. Thus you
say either that pounds are at n dis-
count or hat dollars are at Il premium,
which il 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., 1919-05-03
Call money:

Bank Acceptances.-Rate were un-
changed yesterday.
Thirty Sixty Ninety
Spot de- days. days. days.
livery; Per cent.por cent.Per cent.
Eligible
member
banks ....4A@4 4A@4h 4A@44
Eligible
non-meu1-
Der banks.4h@4 4A@4M 43a@4h
Ineligible
bank bills,5A@4Ia 54@4/a 5I4@4M
sor delivery within thirty days:
New-York tribune., 1919-05-03
LiverpOnl Coffnn

Futures at Liverpool scored net
gains for the day Of to SO points.
mere was fair business in spot, with
5000 bales, of which 1000 were Ameri-
can; imports, 1000 bales. including
$1,000 American. At Manchester
there was a good demand for warns
and cloths. Middling was quoted
there at 1895.
Prices for future contracts follow.
LIVERPOOL
New-York tribune., 1919-05-03

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., 1919-05-03

T. J. Dobbins has been elected director
or ths chesnbrough Manufacturing Com
pany. succeeding s. A. Drew.
New-York tribune., 1919-05-03

in marks. r ''
New-York tribune., 1919-05-03

The Federal Reserve Bank of New
York has put in force the following
schedule Of rediscount rates which
apply to bankers' acceptances Maturi-
ties up to Is days, per cent; 16 to 60
days, inclusive. AZ per cent; 81 to
80 days, inclusive. An Per cent.
New-York tribune., 1919-05-03

sIlver.--London, 4siid. down ND;
Kew York, s1.01 IL, unchanged; Mexican
dollars, 77hc, unchanged.
Sub-Treasury. The Sub-Trcasurv
gained $4,000 from the banks on
Thursday.
German Bank Statemenl~~B BERLIN.
May THE statement for the imperial
Bank Of Germany for the week ending
New-York tribune., 1919-05-03

People who think that an unusual
speculative fever has hit this coun-
New-York tribune., 1919-05-03
Continued OF foHowing page

NEW ORLEANS, May Production
of cane sugar in Louisiana during tho
The evening herald. [volume] (Albuquerque, New Mexico) 1914-1922, 1919-09-13

and relics which are constantly being
added 10 by the reception Of relies
from an parts ~ the country. The
Government has decrccd an owner
ship on an antiquities wherever found
IN Mexico and has caused them 20 be
brought To this Museum. A. a result
there are idols from temples, orna
ments from palaces. Jewels. shields
and arms 81 the Agiocs and Tolters
and picture writings. together with
curlosities dating 10 the DAYS NJ Tho
Conquest. vs. have morning in the
United States unless % be the smith
SONAR Institute 90 compare with This
remarkable museum. The col.
lection h %singularly free from forg
cries and In mtny ways Is one OF the
most remarkable exhibits IN The world.
Calendar Stone
Naturally. the heavy archaeological
The evening herald. [volume] (Albuquerque, New Mexico) 1914-1922, 1919-09-13

sented and there are symbols Of
heaven. the world, the stars. and
heads which represent gods.
The other large stone before which
an sirhtscers pause Is the S%acrihcial
or Seventh King Of Mexico stone
which was found rear the Cathedral
o. Mexico in 1871. is Immense
weight prevented lts being easily moved
and workmen we're trying 10 break "
up for paving stone when Il was res
cuei. II was buried again but was
eNhumed and transferred 10 the
Museum There Is a deep cut run
ming from mo center 10 the odrc and
down tho side. Some authorities say
mo workmen injured the stone here
Others think e was n groove down
which ran tho blood Of the victims.
Tho carvings represent victories and
mon. women and children were sacri'
need on 10 'o satisfy the god Of rain.
Prescott gives In detail the horrible
killing Of innocent victims tho large
number Of spectators and the fortunes
which were usually inflicted before the
poor victim vas killed.
Many Aztec Stones
other strange Aztec stones are "1he
God OF war" OHuiziiopochtiD \ huge
block ~ basalt covered with crude and
repulsive earrings which was duE an
hear Chapulfepcc Castle; The Plumcd
Serpent tQue'zaicoRtl or God 81 Ar.
which Is a figure with realistic feaih-
ers carved In stone. Morning star
(I1ahuizcalpantecuhtiil. a massive
head with Eastern cast o. the Buddha
type and an ancient Goddess Of Wates
which Was found lear the base OF COS
The evening herald. [volume] (Albuquerque, New Mexico) 1914-1922, 1919-09-13
HNZ< SGI/9(S|r7
ASx@C0 CE

are on The ground noor and
some of thom were dug up In tho
streets nearby. The room containing
them is called Galeria de Monollthos
Gallery OF the Monollths) and Porh.
30 Dia showed great Interest In the
arrangement OF the collection. The
room has a ceiling which dates from
The time ~ the early spanish conquer
ors. Undoubtedly the most remark
able one On these priceless relies
% prehistoric days arc tho Aztec
Calendar Stone and tho S~acrihcial
stone The CGicndnr Stone has some.
times been called the stone Of the
sun" and 10 weighs IN She nciRhbor
hood ~ hfty ions and this is about
The weight as when found The intlans
shy o. was transported from the noun.
fains beyond Lake Chalco. "a distance
~ many leagues over a broken coun.
Try Afer iis arrival Ia T~onochttlan
tMcxico Cltyl and she destruction OF
the temple there were efforts 10 dis
credit the use 81 this stone and one
Archhblshop caused 10 be- rehuried
~ was dug mp later, moved 10 the
tower ~ The Cathedral and finally
found a resting place IN tho Museum.
The central hgure represents the sun
and the sefmenis ~radiatinr toward the
cdvc OF me disc age symbolic OF rs
rays Tho four clcmenis-air. IRE.
wafer gnd e~arth-'hc years and the
days % The Aztec month are an repre-.
The evening herald. [volume] (Albuquerque, New Mexico) 1914-1922, 1919-09-13
tfuQuEi,ouE WILL TETE
5~STINGUIsuED GUESTS

Admiral henson. General rarnet,.
Z. harneit and their parties. Judge
q Mrs Hawkins OF Ei PasO. Will be
'eriained at dinner upon their ar
R"l In Albuquerque tonight. by "A
preventative group Of AIbuquer-
|eans W e. Oestroirh. pre-ldy,t
the Chamber Of Commerce. 80
y. oestreich, $ T.. RusenwaLs ~
PIT 81 the Rotary club ".
Isenwald, Or. Eiicr. "I
. kiwanis club. and rsveht OF
III Mrs wilder Nr' and Me-
NordhaG ana Nj and Mrs q.
Will meet the city's guest.
10 Alvsrado. Dinner viii he
'rved az 80 O'Clock aud u IL prob
10 thEt the parry viii not arrive at
= ball until about 10 O'Clock.
The Eiks club will he the scene
the pail which b. being given by
ctty tonight In honor OF Admiral
nson. General Fafuoit and their
rites The function viii commence
: O'Clock. o dancing VIII be cn-
.red until the arrival OF the guests
honor when u reception will be
"a az which everyone may meet the
arts.
|rhis Will he the opening event Of
winter social season and probah-
the most brilliant which has taken
Pee In Albuquerque in some time.