davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1919-06-21
News end the Market

The advancing stock market yester-
day was undoubtedly connected with
the treaty news. In fact, it is probable
that more attention was paid to that
news yesterday than Tor any day in
several weeks. This was not only be-
cause of the news itself, but because
the market was more nearly in posi-
tion to give accurate reflection to its
views on it than it had previously been.
Up to the beginning of June the "bull
movement" had been going on for no
other reason than that it had started.
The market disregardcd the news. It
went up day after day, whether the
news was good or bad, or whether, as
happened most often. there was no
news at all. This overbought condition
brought reaction, and for two weeks
the main concern of traders was the
money market and the readjustment
of the stock markets internal posi-
ton. This has now been fairly accom-
plished a position more approaching
equilibrium has been reached
and the market is more free to reflect
news.
New-York tribune., 1919-06-21
The German Signature

Dispatches early in the session came
first in the form of intimations and ru-
mors and later in the form of more
authoritative dispatches from Weimar
that the Scheidemann Cabinet had re-
signed. A small waye of buying fol-
lowed this, which became greater when
dispatch from Paris to the Exchange
Telegraph Company said that the Wei
mar convention had accepted the peace
treaty. When, later in the day, an
nouncement came that the report of
the Cabinet resignation was "prema-
ture," little attention was paid to it.
The markets action revealed that the
signing of the peace treaty had by no
means been so completely "discounted," !"
so much foregone conclusion, as
many commentators had thought. On
the other hand, much Of yesterdays
buying was undoubtedly with the pur-
pose of selling on the expected rise
to follow the official announcement of
the news as fait accompli. 1t will
then remain to be seen whether there
are enough stocks held for such a sale
to balance or overbalance the wave of
buying which will doubtless come from
over the country when "the news is
out"
New-York tribune., 1919-06-21
The Markets
Stock Movement

The advance in yesterdays stock
market came mainly in the oil shares
and food stocks. American Linsced
advanced 37s points, United States
Food Products gained 3A. and Amcri-
can Can and Continental Can, the de
mand for whose product increases as
the demand for food increases, gained
21a and points, respectively. In the
oil group, Mexican Petroleum advanced
AK points, Royal Dutch 5as, Royal
Dutch New York 81 and Texas Com
pany IL points. There were some spec
tacular gains in miscellaneous issues
8 points in American international, 81
in Atlantic Gulf and SA points in
Texas Pacific. Trading during the
early hours was even lighter than that
of Thursday, but great activity came in
the closing hour.
New-York tribune., 1919-06-21
C. B. & Q. Earned Less
THANH. S. Compensation
1913 Operations Yielded $2O.56
a Share on Outstanding
Stock

The Chicago, Burlington & Quincy
Railroad Company fell $6,OO2,126 short
in 1918 of earning the amount guaran-
teed the road under Federal control.
The annual report issued to the stock
holders yesterday shows net operating
income of $27,357 1857, compared with
Federal compensation of S33,36O6S3.
Net income after charges and war
taxes amounted to S22,792.499, equiva-
lent to $20.56 a share earned on the
S110,S39,1 100 capital stock, compared
with $29, ,4O6,032, or S26.53 a share, the
preceding year. Gross operating rev.
enues of $144,172,769 were the largest
in the history of the road.
Dividends received by the stockhold-
ers Of the company in 1913 aggregated
SS,867 ,12o. or less than half the amount
received in 1917.
During the year the railroad admin
istration allotted to the road twenty
five heavy freight locomotives, twenty
switch lccomo tives, 500 box cars and
1000 composite gondola coal cars.
New-York tribune., 1919-06-21
-Markets-Investments
Steamship Leaves
To-day With Record
Cargo of Gold
Vauban Will Carry $685..
600 to Buenos Ayres to
Settle International Bal
ances; Japan Gets Cold

When the steamship Vauban of the
Lamport & Holt line sails from New
York to-day for Buenos Ayres she
will carry in her cargo $15,125, 900 in
American gold for the account of local
banks which are shipping the metal to
correspondents in Argentina and
Uruguay.
This is said to be the largest cargo
of treasure ever carried out of
New York harbor on a single vessel
The gold is being rushed to South
America to take advantage of the res
toration of a free gold market. Ex-
ports of the metal were prohibited ex
ccpt with the approval of the Federal
Reserve authorities until a fort
night ago.
Since the wartime restrictions on
the outflow of gold were .emoved ex-
ports of the metal have been running
into large figures. So far approximate
ly $25,000,000 in gold has been taken
for export, mainly to South America,
and bankers predict that the move
ment may approximate 100000. 900
before the drain on the country's cold
supply ceases.
The bulk of the gold going to South
America represents balances that were
accumulated here during the war.
These credits piled up because under
the government restrictions on gold ex-
ports it was impossible to ship the
metal. Japan has taken gold from this
market since the removal of the en-
barge, although the shipments to that
small
New-York tribune., 1919-06-21
Virginia Carolina Chemical

Virginia Carolina Chemical stock was
active yesterday, working into "new
high ground" with gain of 2% points
to S3Hs. 1t is understood that a new
pool has been formed in the issue. The
net working capital as of May was s32,-
100000. The book value of the com
mon stock has been figured from the
last balance sheet at $3.50 share. For
the last three years the common stock
has earned total of 443 per cent and
paid out only 10 per cent in dividends.
Directors meet'for dividend action next
thursday. There has been some talk
OF an Increase in the annual rate from
the present 5 per cent to per cent.
New-York tribune., 1919-06-21
Foresee Great Period
OF Railroad Building

ATLANTIC CITY, N. j., June 90
Representatives of every big trunk line
IN the country concurred here to-dav V
IN the prediction of r. H. Ashton,
president of the American Railroad AS
soclatlon, made before the mechanical
section Of that organization Yesterday.
that the transportation systems when
returned to their owners on January |
next are going to be up against one
OF tae greatest constructive periods
they ever have gone through"
Stating very frankly that he did not
bellcve there is dissenting voice on
ene question of the return of the lines,
either from Congress, the people, from
the administration or from railroad
men, Mr.. Aishton who was the execu-
1--WE head of the Chicago E. Northwest
ern before he was made regional d.
rector for the Northeastern rerion
under the railway administration. in
sisted, nevertheless, shat concentra-
ton under government control was q
very good thing for the nation at large
urdor the circumstances existing.
II am one Of those who do not be-
lleve that in the future the selfish con-
dltlons which have prevailed in the past
are going to prevail in the railroad
business or any other business of this
~ III .iie iuCuIe, was the message
President Ashton left to the aralra-
mated railway bodies of the nation.
II believe that the time has como
when all men must work together, and
| believe that the welding together of all
the railroad associations into one biz
force is gong 10 be TO the advantage
of all of US was another conclusion
shared by traffic and construction ex-
perts.
ut was the railroad administration
that held us together and said not only
what must be done. but how we should
do it," he declared.
New-York tribune., 1919-06-21
Would Release
National Banks
For Foreign Aid
Reserve Board Favors Per.
mitting Institutions to In
vest i'm International Or
erations to Support Trade

WASHINGTON, June 20.-Legisla-
tlon to permit all national banks to be-
come stockholders of corporations en-
gagged in promoting foreign trade will
be recommended to Congress to-mor-
row by the Federal Reserve Board.
An amendment to the Federal re-
serve act will be suggested which will
unlock perhaps S100,00O,000 of capital
Tor financing the tremendous purchases
which other nations desire to make in
TINS country. By furnishing a basis
lor long term credits to countries al
ready heavily in debt to the United
States action by Congress in accord
ance with the boards recommended
tons is expected to hasten a return to
normal conditions in Europe and at
the same time contribute materially to
IN me continued prosperity of America.
flnanclal experts of the Treasury re-
gard the boards recommendation as
one OF the most important steps in
reconstruction yet taken. The sug-
gested change in the law would permit
national banks until January l. 1921.
without regard to the amount of their
capital and surplus, to invest not ex-
ceeoIng IN the aggregate per centum
stock of one or more corporations
Principally engaged in such phases
OF international or foreign financial
operations as may be necessary to
lacllltate the export of goods from
the United States. ''''
Funds Through Investments
All day discussion with the exocr.
tive committee of the Federal Advis-
CRY Council. composed of James B.
forgan, Chicago; L. L. Rue, Philadel-
phla; Daniel c. Wing, Boston. and w
5. Rowe, Cincinnati, preceded the an.
nouncement of the boards decision
1t was said that the board and the
committee were in entire accord that
tne matter of providing long term ad-
Vances Tor Europe presented an invest
ment rather than banking problem,
and that the necessary funds must
therefore come from the investment
market
!, 1t was the opinion of the conference,
however, that as a step toward sup
porting plans for the financing of tbo
nations foreign trade it was advisable
to make it possible for national banks
to participate in the formation of
trade groups, such as that now in
process OF organization by the cotton
interests, so that Europe might buy
raw materials Immediately on col
lateral OF adequate security Aside
from the actual capital put into such
enterprises by the banks, it is felt
hat the general public will be encour
aged By the banks participation to take
stock also, which will be an indirect
'tlmulatlon of the continued saving be-
leved necessary to provide new capital.
Present Limitations
At present national banks are limited
by law in their ownership of stock in
other enterprises bank must havo
$ 100000 in capital and surplus in
order to apply to the board for stock
IN corporation engaged in interna-
tlonal or foreign banking, and may not
invest more than 10 per cent of it's
capital and surplus.
New-York tribune., 1919-06-21
The Steel Companies

Increasing inquiries for estimates
and bids for steel products are re-
ported by several of the larger steel
companies. 1t is not believed, however.
that the showing of the steel COM
panies for the second three months of
the year will be very good. 1t is
understood that at least one large COM
pany suffered deficits in both April
and May, while others failed to earn
their dividends. June earnings, on the
other hand, give optimistic Indications
The untitled tonnage figures for the
end of June are expected to show an
increase for the first time in several
months.
New-York tribune., 1919-06-21
Wall Street Items

Kidder. Peabody & Co. r. S. Mosely &
Co. and the Chase Securities Corporation
arc forming syndicate to undcrwrite So
100000 preferred stock Of the United Drug
Company. to be offered to holders Of the
first and second preferred and common
stock at par. $50 share
Tho Kelly Springfield Tire COMPANY. In
order to provide the necessary funds for
the erection OF Il plant at Cumberland Md
Is Issuing approximately $500, 900 of s per
cent second preferred cumulative stock
which Will be offered for pro rata sub
scription to stockholders of the company,
common and preferred. at par 500 a
share. and VIII be underwr,tcn hy a syn-
dicatc to be fo-mcd by H. T. t;oltischmidt
q Co., Goldman. Sachs & Co.. and Lehman
Bros.
ockholdcrs OF the Philadclphja Com,
pany will hold .pecial meeting on August
80 TO vote on an increase in authorized
capital stock from $7l.933 400 to s75.s83.-
400. The increase Is to be In common
shares and all stockholders OF record June
80 Will be entitled to vote at tho meeting
president and director OF George w.
Goethais Co.. Inc
The Hood Rubber Company is offering
to preferred stockholders the right to SUBJ
scribe at 500 per share to 81 600 o00 od
ditonal preferred stock in ratio OF one new
share for each four now held. This action
VIII complete tho 100000 authorized
preferred tgsne.
York has been appointed transfer agent OF
ih" capital stock Of tho White Eagle OH
and Refining Company.
SSssistsnt sserstsry Of tbs 0usrAntY trust
Company.
New-York tribune., 1919-06-21

stock market has been anticipating are
largely based on the expectation of
foreign demand, yet students Of con-
dtions abroad pretty generally agree
that Europe as yet is in no shape to
take very large amount of our goods.
Certainly we must prepare ourselves
to loan her the wherewithal before we
can expect her to do so. Secondly,
labor is becoming so unreasonable in
many of its demands that it is likely
to eat up much of the profit, and thus
reduce the incentive to new enterprise,
Hayden, Stone e Co.
New-York tribune., 1919-06-21
DISSOLUTION NOTICE

STATE OF SEW YORK
OFFICE or ~ ,RETAHY or STATE SIS.
The cEETIFicATE Issued In Duplicate
nefsny csfiihes that the MARTINI GOOD.
F.tESD GO INC. Il domestic stock cor
vera,ion. has fi*d In this Office on this
I'm Gay ~ jane. 1919. papers FOR the
voluntary dissolution nf puck corpora,ion
under section IN of the General corpora
ION Lam. acd that It appears fherrfforo
'hat sneh corporation has complied win
SAID section 10 order 10 be dissolved
WiTaISS my hand sud the seal
of cfrics Of the Seeretary Of S,ste
o. the City III Albany. this sigs,,
tsenth DAY ~ Juns. ons thousand
Nine hundred sef niasn,..9.
boeo4A 0eDUty eeoyatGry e Gta&a
New-York tribune., 1919-06-21
Market Opinion
According tn prcco,,or+

The market acts in absolute accord
with precedent. By that we mean that
IL IS doing what it has always done
under similar conditions in the past
Inc big advance has been followed bv
a sharp decline and the subsequent
rally has halted a little more than
mar way between the lows of the do.
cline and the previous high, while the
pace or trading slackens until traders
ana the pubic, as whole, can get a
clearcr indication Of the extent to
praised coming cvcnts.-Hornbloauer r e.
Weeks y"
New-York tribune., 1919-06-21
~, soyTH PORTO RICO SUGAR co:

DlVIdend Scrip CertlficateS Series e and d,
The Board of Directors has adopted reso-
lutions providing for the redemption of divi.
dend scrip certificates Of this Company,
and April LIST, 1919. respectively) on October
1st. 1919. at par and accrued interest; and
iurther providing that amy holder of scrip
present the same at the office of Messrs
William Schall & Company. As William
Street. New York City. between July Ist
1919, and October list, 1919, for REDEMPTION
at par and accrued interest TO the date OF
such presentation ~ ~ Va
BY order of the Board of Directors.
+. a. DILLINGHAM Secre.arv
New-York tribune., 1919-06-21
Scale Support

Improved money and credit condi-
tions, optimism in general business
and belief that Germany will sign be-
fore the stipulated time should give
the stock market good scale down buy-
ing support The bears, however, are
nncrating more confidently and their
following Is increasing.--E. W. Wagner
& Co.
New-York tribune., 1919-06-21
SOUTH PoKTo RICO SUGAR co

NO-T(.r0 TT ~ VFrtIIICatCS Series a.
s,,SS,S OIlSE is HEREBY GIVEN that tho
series Nssued on July 1st, isls(, VIII 10
re,,ee reueened on .viy list. 1919. at par and ac
Messrs 'hyyfeS, 70 said date at tho oflce OF
ian, iam street New York Clty and tha, sa,3
on sEa'ss said Iy WI mature and become payable
t.,terss. 10y ist. 1919. and will cease 10 bear
hy order % the Board OF Directors
r. A. DILIINGHAM SscraAa
New-York tribune., 1919-06-21
sorTH PORTO R1co SUGAR co.

TOT1T" y" IVrIP ttIIiilcates Series c,
,NsVli'E Is HEREBY GIVEN That tha
SGiVidehd scrip certificates OF this Companv
sssi, Series issued on December 3lst. 1915
nna m,ii De redeemed on July 1st. 1919 at par
o,a. en- accrued ~ interest TO said date at tho
20 William Street. New York CITY. and Ibst
sss ssa cef'incates os viii mature and become pay
10 bear interest from and after said date "''
6y order OF the Board OF Directors.
r. A. DILLINGHAM; Secretarv
New-York tribune., 1919-06-21
The Best I.nnkcd En.

The best we look for the next few
weeks IL market that will fuctuate
over narrow range and we'll supplied
with stocks on strength, except in spe
ciaitics in which may be developmcnts.
--Cid1k, Childs C Co.
New-York tribune., 1919-06-21
Dividends s
Extras

Battery Park National Bank-An extra
dividend of per cent has been declared
i'll addition to the semi annual dividend of
) per cent. both payable July ! to stock
holders of record June 10.
CITIZENS National Bank-Extra dividend
OF per cent has been declared in addition
10 the regular quarterly of 21a per cent
both paya Bile July l to stockholders Of
record June ol
New-York tribune., 1919-06-21
Sugar and Coffee


Current A year
Co.., prices. ago.
SUGAR centrifugal; per i5... 7oS -
Coffee. Rio No. I, per lb...... 221. S3s
Coffee. Santos No. f. per b.. rs -
Sugar-Retners have Withdrawn exnort
quotations for the time being 1t is i'm
possible to take orders. even for the do
!nestlc trade. for delivery before August
beginning to-day, Saturday will be a holi-
day IN the sugar trade during the sum
mer. '
Coffee Futures-Net gains of 70 to Is
points and new high records were marked
up IN the coffee market July rose as
high as % cents and September went to
I. 70. At that level july was 1o5 points
a 5oNe the previous closing and September
90 points Some of the buyng was said
TO be for European account and to be
based upon the peace outlook. The total
stock of Brazil coffee in the United States
- J.. now less than 100000 bags, and prices
mere are expected to follow the BraziIian
markets until available supplies hava
reached something like a normal volume
Prices for future contracts follow.
New-York tribune., 1919-06-21

ANDREW J. MCCORMACK. Auctioneer.
REGULAR AUCTION SALE
STOCKS AND BONDS.
BY ADRIAN II. MULLER son,
OFFICE 55 WILLIAM ST,
WEDNESDAY,. JUNE 25. 1919.
at 1890 o'clock, at the
EXCHANGE SALESROOM,
NOS. IA AND 16 VESEY STREET.
For account OF Admin stratrix:
10 shs. Lichtcnstadter Bros, Inc. Rights
of dccedent in contract with Lichten-
stadter Bros, Inc, dated May 1. 1914.
For account of whom it may concern:
$50 shs Riverside Drive Apartments,
Inc.
22 G. T. Putnams Sons.
so T." Andes Electin Corpn. common.
$4,000 kentucky Producers & Refn-
Corpn.
26 " Central Hudson Steamboat Co.
common.
SO Central Hudson Steamboat Co.
prefd.
IS " John Mehl & Co.
New-York tribune., 1919-06-21
DIVIDEND NOTICES
Citizens National Bank
OF NEW YORK.
OF NEW YORK
June, 18th. 1919.

June, 10Th. 1919.
The Board Of Directors has declared a
quarterly dividend of t,co and one-hnlf
per cent '212Tco and an extra diridend
Of ore per cent 90, payable on aud aftc,
Ju!y LIST, 1919. to stockholders OF record
at the close Of business June 2lst, 1919.
ALBION *. CHAPMAN, Cashier.
New-York tribune., 1919-06-21
CITY INVESTING COMPANY

IT. w., New York. June 10. 1919.
quarterly dividend OF one and three e-omartcrs
PER cent upos the pre,erred stock Of ,h,s
1spspImy 1sis IN Sa pSsyabIe al its onice on July i.
On the books OF he Company at the closs
oi oasiness on June %. 1918 N''
New-York tribune., 1919-06-21
, - - isN. soeC
THE BANK OE ANEHIda

rh. p.. New York, June II. 1919
, ne hoard or Directors have today de-
1iaIea a semi annual dividend OF fifteen
,1oi Per cent free OF tax, payable Julv
a.. a., 1913 to stockhoidera OF record OF this
,,ain ne ran 'er books will remain closed
New-York tribune., 1919-06-21
NATIONAL BISCUIT COMPANY

Gath THE Board of Directors has de-
COMMON | clared quarterly dividend of
1,,,,nr.,n one and three-quauers (A)
O'v'OeNO per cent on the Common Capital
stock of the Company, payable July 18th, 1919 to
stockholders Of record at the close of business June
10Th, 1910. Transfer books will be closed
C.P WELLS, Treasurer
New-York tribune., 1919-06-21
oliice Of the tnlted t.a. Impro..meur Co

~ ~ t"fher Broad and Arch Strecta
r.,,. rhiiadel lphia, June II. 1913
Quarterly dividend Of two per cent 81 90
per sharel. payable July is, 1919. 70 stock
1oldcrs OF record at the close Of business
''e 'V' 4'i'. cneeks %iii be mailed.
New-York tribune., 1919-06-21

INDIANAPOLIS & ST. LOUIS r. r. co.
First Mortgage 10 Bonds, Series A, Is & c..
maturing July 1st. 1919. will be paid on
and after that date at the Office Of J. P.
with interest thereon due July 1st
Income Tax Certificates to cover interest
on Series b four months) and Series C
ttwo months) should accompany the bonds
CLEN ELAND. CINCINNATI CHICAGO
e. ST. LOUIS RY. CO
BY NJ. S. BARGER Treasurer.
New-York tribune., 1919-06-21
THE IMPORTERS AND TRADERS
NATIONAL BANK OF NEW YORK.

New York. juno 2gth. 1919
dividend of Twelve Per Cen, has to
oaJ been declared BY this bank payable
On me is, day OF July next The tranafer
BOOKS Will remain closed iii. that date
r.. T. TOWNSEND Cashier.
New-York tribune., 1919-06-21
The Dollar in Foreign Exchange

Exchange on London was slightly
easier Yesterday while rates moved in
favor of Paris. Neutral exchanges
were quiet.
Week
Yesterday. ago.
New-York tribune., 1919-06-21

Following are the official rates quoted
by the American Relief Administration
on exchange against the countries on
which it has supervision over all
dealings:
New-York tribune., 1919-06-21
Money and Credit

Call money opened and renewed yes
terday at per cent for mixed COL
lateral, declined to So in the ear]v
afternoon, then to s per cent. and
closed at 51a per cent. Loans on all
industrial collateral were one-half of
1 per cent higher, but were 5s4 per
cent when mixed loans declined to
their low figure Of 5.
Time money is quiet, with a few small
loans being made for thirty-day periods
at per cent on all-industrial COL
lateral.
The ruling rates for money yestcr-
day, compared with year ago, were
as follows:
Call money:
Yesterday. Year ago.
Per cent. Per cent.
On mixed collateral 6 q
On indus. collateral 6Ia 4La
Time money (mixed collateraD:
Sixty days ........ 6 53l@6
Ninety days ....... 6 6al@6
Four months ..... 6 6azm6
Five to six months. 6 53Im6
changed yesterday as follows:
1hlrty Sixty Ninety
Spot de- days. days. days.
livery: Per cent. Per cent. Per cent.
Eligible
member
banks ....4h@4 4A@4A 4h@4M
Eligible
non-mcm-
ber banks.4h@4 4A@4A 476@4A
Ineligible
bank bills.5A@4la 514@4Ja 5A@494
For delivery within thirty days.
Per cent
Eligible member banks. Ak
Eligible non-member banks. 4H
Ineligible bank bills. s.......6
Bank Clearings.-Bank clearings yes.
terday we're:
New York ...$826, 6,o22,421 $9o,o11724
Baltimore 80. 12,A57,515 4,958,924
Boston ...... 6a,499,341 23,732,26
Philadelphia. 81,501 ,905 22,21e, ,754
Sub-Treasury. The sub-Treasury
lost $841,O00 to the banks on Thurs
day.
Silver.-London, 541Ad; New York,
Sill q; Mexican dollars, S6M90c
London Money Market.-LONDON,
June -Closing-M Money loaned at
2A per cent. Short bills were dis
counted at 3l4 per cent; three months
lC OF
New-York tribune., 1919-06-21
I ca

Excited bidding for Ceylon teas has fol-
lowed the recent arrival of samples.
mere IS SAID to be greater demand for
all grades OF Ccylon tea than can easily
be supplied. Quotations for lots of IN
and 100 packages follow: Va w
r, ureehs'-Moyune Gunpowder. 5l@73c:
Pinssuey Gunpowder. 3lQy4sc. Jnnons-E.
nannred. la S3Gy55c. Formo-a OolongEcood
~ ep3Ic tndiH-l'ekoe. 34Qp44c Ceyinn-
Pekoe. 34G+4c. Jnvn--Pekoe. 2osr32c
New-York tribune., 1919-06-21
Inducing Caution

!w9 things. occur to us, especially
inducing eaut!out the profits that the
New-York tribune., 1919-06-21
Regular Declarations

Stock
Rate and Paya BILE holders
lerlod of Rec
A'r Reduction $500 @ July Is June 80