davidaulloa/AmericanStories huggingface dataset:
French Broad hustler. [volume] (Hendersonville, N.C.) 1916-1919, 1919-01-02
TURN THE Boys THOUGHTS
, HOMENARD, SAYS FOSDICK,
ASKING COOPERATION

Washington. - Especially Just be
fore leaving for France 30 superin
tend the rehabilitation activities O:
those organizations which recent,
took part In the United War Wort
Campaign, Raymond B. Foedick
Chairman Of the Commission On Train
Ing Camp Activities, was interviewed
with regard to the present situation Of
our overseas forces.
The problem presented By the
gradual rehabilitation Of more than
two million men three thousand miles
from home 10 oDe which will tax all
our social resources" said Hr. Fos-
dick TT IN abowe all a morale prob
lem end It must be faced as such, with
the mn cooperation Of families and
friends here IN this country, II e Is to
be solved successfully. Every ono who
has q son, bFothe4, must help.
WMbe The war was ON our BOYS
we're fully occupied; thsy were stin
filed wRA tho Spirit Of adventure.
booking forward rather than back
Nov, however, the fighting is at an
end They aR~ going to remain, most
OF them, many months doing work
which will be neither exciting Ror
particularly interesting They viii get
Lonesome, bored and terribly home
sick.
The $17o,OOO,OoO raised IN the re-
cent United War Work drive II to be
used precisely 10 bridge over this De
Rod by providing recreation and
amusement. But no amount Of mere
money expended In such q way win be
enough What these boys really want
is not diversion, but human interest
and sympathy. These things express
ed In letters from home win warm
their hearts and create. a home at
mosphere around them even while
they are absent from the family circle.
"Such letters may be a very neces-
sary sheet anchor DO wtndvard In the
case Of some boys. The thought of
some one waiting for them, counting
on them, will more than anything
else, make them hold back and think
twice before plungtng into situations
which might mean harm and unhap- |
pineSs for them.
We have raised the cleane4 army
IN the world We have kept It cean. |
We hope to bring it back as clean and |
strong as It was when It left us. But |
while we believe our soldiers VIII |
stand the present test-the hardest of |
all IN some waFs-as b4ave3y and |
successfully as they have stood every
other test OF their manhood and en-
ouraDcN' It 10 our duty 10 gtDe them
all the hap we can.
This, as I have said, can best be
rendered hy means OF letters which
VIII begin now, at once, not only TO
satisfy their home Iongtngs, but to
turn their thoughts from tasks already
accomplished to the long years OF life
ahead OF them"
French Broad hustler. [volume] (Hendersonville, N.C.) 1916-1919, 1919-01-02
DEATH OF COLORED WOMAN

Mamie Lance, wife OF Joe Lance and
daughter of Mary and Gus Logan, dieG
December 28th, following an attack
Of influenza, at her home in East Flat
Rock. Deceased was thirty-five years
of age. The funeral was held Monday,
Dec. 31st, and interment made at the
colored Baptist burial ground in East
Flat Rock.
French Broad hustler. [volume] (Hendersonville, N.C.) 1916-1919, 1919-01-02
EVENTS. OF YEAR
TOLD IN BRIEF
!
complete DEFEAT OF CENTRAL
| POWERS IN WORLD WAR MARKS
AN EPOCH IN HISTORY,
DATES OF TEUTON DOWNFALL

u "eiVe-Month Ends With Leaders of
victorious Nations Gathered to Set
Tie Peace Terms-Other Foreign and
Domestic Occurrences.
French Broad hustler. [volume] (Hendersonville, N.C.) 1916-1919, 1919-01-02

COMPILED BY E. w. PIcKARD.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-04-06
Money and Credit

Loans and discounts Of The New
York Clearing House banks contracted
almost S40,000,000 last week, the total
amounting to St.777 .es7 900 Net de-
mand deposits Increased SS6,451 GOO, TO
$4,000, 729,0Oo. These changes we're the
result of government financing opera
lions with the banks.
United States government deposits
with the banks amounted to S172,S45.~
600 at the end Of the week, compared
with 1927 100000 the week before.
Surplus reserves Of the banks in
creased $21 $1,000, to S50,852 800
The Federal Reserve Bank Of New
York reported gold in its vaults and to
It's credit in the gold settlement fund
at Washington amounting to S473,2G9,-
~, against S440,391,slG the week be
Tore. Rediscounts and advances Of the
bank against United States government
Obligations were S628 ,6971O com
pared with $G6l ,0S6,S2O the preceding
week.
Discount Rases.-7hc following table
gives the current rates of the twelve
Federal Reserve banks on commercial
paper for all periods up 10 ninety days:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-04-06
Oil Burners and Speculation

Those who favor the oil stocks as a
speculation pointed to cable from
London yesterday That the Cunard
Steamship Company is considering CON
verting It's ships into oil burners as an
indication of the growing use of petro-
leum. Arthur Snagge, r. n, naval at
tache Of the British Embassy at Wash
ington, in a recent address in New
DIRK gave some interesting statistics
bearing on the use of fuel oil by the
British navy during the war He said
that Approximately four-iifths of the
Allied demands for petroleum were
supplied by America.
As an example of what oil means TO
the British navy. he gave the following
statistics of oil-burning men of-war Of
the British navy: Battlcshps, 16.5 per
cent; battle cruisers, 1915 per cent;
light cruisers and cruisers, 80 per cent;
monitors, 70 per cent; flotila leaders
and destroycrs, rs per cent, and tor
pedo boats, 40 per cent, giving a mean
average throughout the British navy Of
4S per cent In October 1917, 2O6, 600
tons of fuel oil were shipped from
American ports for the use of the Brit
ish navy alone, and that amount was
raised to 81 5000 tons in October, 1913.
In 1913 2,62S. 1861 tons OF fuel oil alone
were shipped from the Eastern sea
board Of the United States for the use
of the Allied navies Of Europe.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-04-06
Still Being Discussed

The plan Of the American Steel
Foundries Company to acquire control
Of the Griffin Wheel Company is re-
ported to be still under negotiation.
Although the terms of the purchase
are said to be mutually satisfactory
at the present stage of the discussions
it is understood that definite an
nouncement of the contamination of
the deal will be withheld until the re-
capitalization of the Steel Foundries
Company has been approved by stock
holders. This is expected to take place
at a meeting later in the month. The
Griffin estate, which dominates the
wheel company. according to Chicago
information, Will not withdraw entire
~ from the organization in the event
of the sale Of the controlling interest.
1t will retain an interest in the COM
pany of about 100000. There is So
$4,000 common and $6,0QOOoO pre-
ferred stock outstanding. While the
Steel Foundries Company did not make
definite offer for the minority stock
OF the wheel company, it is understood
that should the control change hands
as planned %n offer Will be made to
minority holders that Will give them
the same rights as are offered the
holders of the ma jority stock
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-04-06
May Ship South
African Gold Here
TO Settle Balance
Report That Entire Output
of British Owned Mines
May Be Sent to u. S.;
ArOuses Interest

Bankers in Wall Street were much
interested yesterday in London cable
advices to "The Evening Post" to the
effect that in the near future The out
put OF the British owned gold mines
Oh south Africa may be shipped to the
united States to help in correcting the
ADVERSE sterling exchange position.
In l9l8 the production of the mines
OF the Transvaal district of Africa an
proxlmated S2oO,0O0,O0O, according to
reliable estimate. Practically all of
inns virgin gold as it comes from the
ground is shipped to London, where it
IS purchased by the Bark of England.
During the war a considerable Dor
ton of the British gold production of
the South African mines has been
shipped to Canada, whore it was held
as part of the Bank Of England rc-
serve
bankers said yesterday that if the
b1'ush Treasury plans to send the new
AFRICAN gold to the United States, it
means that the financial authorities Of
Great Britain have decided to speed
up the restoration of normal conditions
IN the international gold market.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-04-06
VIII Study Markets
For u. S. Farm Produce
Department of Agriculture to
Undertake Special Campaign
i'm Interests of Farmers

WASHINGTON, April 5.--ln the gov
ernmcnt's programme for the extension
Of American foreign trade promotion
Of the farmers interests has been
placed entirely in the hands of the De
partment of Agricultural bureau Of
markets, which announced to-day that
several agricultural trade commission
crs, as permanent representatives, viii
be sent abroad to report on conditions
and study the marketing and distribu-
tion of American farm products.
Heretofore little has been done in
systematic way looking to promotion
of the farmers interests abroad, al
though before the war foreign trade
in agriculture products reached to-
tai of more than n billion dollars, or
40 per cent Of the total exports Of the
country.
ain view Of the extensive changes in
methods Of distribution required dur
ing the war to meet the acute needs
for food and raw materials under diff
cult shipping conditions, the trade in
agricultural products now must under
90 read justment in It's return to pri-
waite channels" said Charles } Brand,
chief Of the market bureau, to-day. "ln
some respects American exporters and
foreign importers must start afresh,
and as they resume business they will
encounter many strange conditions. To
answer numerous inquiries for infor-
nation and as Il means of anticipating
the general demand and promoting the
interests of American agriculture in
the reimbursement of world trade, week
ly reports will be issued on foreign
market Subjects
Among the specific activities of the
bureau Will be Investigations on grain
and grain products. cotton and cotton
seed products. livestock and meats,
dairy and poultry products. fruits, veg
etables. nuts, honey and tobacco. cx-
port forwarding and transportation of
agricultural products, uiarine insurance
and assistance to producers and export
ers in developing foreign markets.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-04-06
Cunard to Capitalize Reserve

Information received by mail from
Liverpool says that the directors of the
Cunard Steamship Company have de-
cded that it would be desirable in the
interests of the stockholders to make
the issued capital correspond more
closely than it does at present with the
net assets employed in the business.
To achieve this object the stockh olders
were asked recently to capitalize the
reserve fund to an extent OF issuing to
shareholders one new fully paid ordi-
nary share for each ordinary share now
held. THE effect of this" says the
chairman of the board, will be that
the total number of ordinary shares is
sued viii be doubled, but as the total
value of the net assets employed in the
business viii be unaltered each share
will be worth half as much as an ordi-
nary share on the present basis Of
ltalization. The directors are salts
fled that the profits of the company in
1918 will Justify a dividend al the rate
OF 30 per cent, less income tax, on the
ordinary shares as at present issued
If the reserve fund is capitalized as
proposed the directors will recommend
to the annual meeting April 30 the pay
ment of Il dividend Of 10 per cent, less
income tax on the total ordinary share
capitalization as increased.' Ii Is pro-
posed to increase the capital stock by
100000 new ordinary shares of 81
each.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-04-06
Who viii Pay Interest :

According to Canadian advices. New
York bankers mold $13 100000 of Grand
Trunk Pacific branch line bonds guar
antced by the provinces of Saskatche-
wan and Alberta. The financial au-
thorities of the Dominion say that ii is
up to those provinces 10 pay the in
terest on the bonds. now that the rail
road company is in a receivers hands
The bonds involved were held by Lon
don bankers until transferred to New
York in the course of establishing war
credits. They consist of 81 500, goo AL
berta As. due 1889; S1,193 900 Alberta
As, due 1912, and $10,194 900 Saskatche-
wan As. due 1889
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-04-06

One Of the financial districts fore
most bankers who was in Washington
Friday, said yesterday the steel price
muddle was regarded by conservative
people in the capital as most unfor-
tunate. While he gave it as the pre-
vailng opinion that it might be better
for tine industry to work out it's trou-
bles without the cooperation of any
government body the fear was ex-
pressed that if that policy were pur-
sued it might be followed by wage re
auctions. Cuts III the present pay rate
to labor, it was felt, would be unwise.
at least until after the peace treaty
bad been signed
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-04-06
Machinery Stocks in Favor

Just as in the days during the early
period of the war when the war
brides had their heyday of popularity
Wall Street is now directing its efforts
toward seeking out those stocks that
are expected to profit most by peace
Among the speculative favorites of the
past week were the securities of ma
chinery making concerns like the Ma
tional Acme Company and the Rumely
Company The former company is said
to be the largest producer in the world
of automatic machinery and machinery
parts. National Acme used to sell to
Germany and Austria, as wetl as TO
England, France and Russia. The com
pany has maintained 6 per cent divi-
dends ON its stock and has built and
paid for out of earnings its plant for
producing duplicate metal parts.
Among the directors are Albert il.
Wiggin, chairman Of the Chase Ma
tlonal Bank. Galon l.. Stone Of Hay
den, Stone Il Co., and f.. II. Golf, presi-
dent Of the Cleveland Trust Company.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-04-06
Cambria Steel 1918
Net Slumps Heavily

The annual report of the Cambria
Steel Corporation for 1918 discloses net
operating earnings, after the deduction
of expenses, repairs, maintenance and
provision for federal taxes, Of SlG,-
691,462. In 1917 net earnings aggrc-
gated $47,l2l ,66T before the payment
of federal YIN amounting to $17,264,396.
Net income applicable for dividends
of $5,l00,000 amounted to $7,5G7 .535.
compared with S25, 72 ,o53 for the pre-
ceding year. Stockholders shared So
400, 900 in dividends in 1917 Surplus
of S2,167,535 represented decline of
$lS, 1913 as contrasted with the pre-
ViOus year.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-04-06
Money i'm Circulation

WASHINGTON, April 5.-Money cir
culating in the United States this
month is sufficient to give every man
woman and child $54.56, an increase OF
eighty cents over the per capital circu-
lation in March and an increase OF
$3.50 over a year ago. The total
amount of money of all kinds available
for paying bills is $5,S47 300. Sal The
is estimated to be 1917 1856
600, an increase of $4,000 since March
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-04-06
War Finance Bonds
''AdmissabIe Assets's

WASHINGTON, April War finance
cooperation bonds, of which more than
100000, 900 have just been sold, are
admissible assets" which may be in
cluded by corporation in its tax re-
turns of invested capital, providing the
amount of bonds held is more than
$4,000, the internal revenue bureau an
nounced to-day. Holdings of $4,000 or
less may not be included as invested
capital, but this amount of bonds is
tax exempt.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-04-06
A. A. Corey President of
Cambria Steel COMPANY

PITTSBURGH, April 3. A. A. Corey.
general superintendent of the Home
pany, resigned this morning to accept
the presidency of the Cambria Steel
Company and vice presidency of the
Midvale Steel and Ordnance Company.
John S. Oursler, who has been in
charge of the government plant at Ne
willie Island will succeed Mr.. Corey, who
will leave for Philadelphia Monday to
nSsumn his now duiins
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-04-06
Finance = Economics

Downright. 1919. New York Tribune 1uc)
There was reassuring news from
The peace conference yesterday.
The Presidents condition was not
serious. and British authorities in
timated the peace treaties will be
concluded by next Wednesday. But
no definite limitations had yet come
from the steel price conferrees at
Washington, though there was a
great deal of talk that the opposi-
ton Of other government officials
than Director General Hines, in
GLIDING that attributed to the At
tornoy General, would lead to
abandonment of the plan. The
whole effect of such an abandon
ment, even if news Of it had been
official or confirmed, is so wide and
uncertain that it could hardly have
been digcsted in the course of a
two-hour session. The result of the
combined influences and of the
usual Saturday "evening up Of
commitments was an irregular
market, with few movements of
any great consequence. Sterling
exchange was again strong, reach
ing a new high record since the
British government removed its
support a few weeks ago
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-04-06
RelevantCOmnent
Sold Out Bulls"

A member of the Stock Exchange
said yesterday his bank loans had been
reduced approximately so per cent in
the last month. He explained that the
contraction in the loans was due to
the fact that many Of his clients had
sold their stocks and had taken a
profit and were waiting for a reaction
before buying again. Other signs
point to the fact that the Street con-
tains a large number of sold out
bulls -
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-04-06
Frederick Elected Treasurer
OF American Smelling Co

Leopold Friedrich has been elected
treasurer Of the American Smelling
and Refining Company, succeeding
Isaac Guggenheim. Mr.. Friedrich has
also been named as a member of the
finance committee, as has F. w Hills
c. W. Whitley was elected vice -presi-
dent and a member of the executive
committee and r. w. Straus was also
put on the executive committee
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-04-06
Paris BOursc Irregular

PARIS. April D. The prices on the
Boursc to-day were irregular Three
per cent rentes were quoted at 60
francs % centlmes for cash; exchange
on London, 27 francs 70 centimes; 5
per cent loan. 80 francs 35 centimes.
The dollar was quoted at from S francs
V" .'""''"'As t" rnncs o. centmes.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-04-06
parity, as calculated by tho United
States Mint:

The above rates express the cost Of
foreign money in terms of the Amer
lcan dollar. You buy an English pound
sterling, say, at S4.58. The intrinsic
parity is s4.865s per pound Thus, YOU
say either that pounds are at a dis
c1un1 or that dollars are at premium,
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. [volume] (New York [N.Y.]) 1866-1924, 1919-04-06

"As soon as shipping facilities are
restored" cables 1.-The Evening
Posts" London correspondent, "you
are likely to get all tbs gold output
Of the Cape region" 1t is to be
hoped that some means can be
found Of escaping it. We have
more gold now than we know what
to do with. II is a third of the
worlds supply. South Africa in
1913 produced $20O,00O,OO0 Of the
metal. In 1915 our net imports Of
gold were $42O,50O,O0O; in 1916,
$530,200,000; in 1917, 100000,
and in 1918, $21, 100000. Add up
that addition to our gold supply,
giving $1,152,300,0O0; add to that
our own annual production Of
gold at roughly S10OO00,000 a
year and you get more than ST.
500,O00,000 addition to our gold
supply in four years Now, figure
the potential bank credit from that
increased supply at five times as
much, and there is an addition 10
our credit in four years of $780,
100000. One need hardly go TO in
fation created by government loans
to find the reason for the doubling
of commodity prices in those four
years
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-04-06
w alth- Market ents

our trade for only three months.
And when the German and Austrian
markets are opened our excess of ex-
ports should receive a still further
stimulus.
If we lend special credits to Euro
rean nations, we shall have them
going further into debt by creating
new securities. The normal sol1-
ton would be to take already exist
ing securities which Europe holds.
Her quantities of these are enor-
nous. That was what Great Brit
ain did when she was a creditor ma
ton. She did not lend through gov
eminent aid. Private individuals
invested in our securities; they
helped to build us up. We must do
the same.
Americans have not acquired the
habit of investing in European Sc
curities. They are apt to be shy Of
them. The habit can be acquired in
period of years rather than
months, but the emergency is press
ing. For that reason Mr.. Paul War
burg and other bankers have sug-
gested an investment fund.- They
have proposed. in effect, that trained
inanciers here select European Sc
curities and pass on them, forming
sort Of corporation which would
issue its own securities against
these, so that Americans would ut
once buy the securities through con-
fidence in the Judgment and investi-
cation exercised, and through the di-
versi6cation Of risk attained. The
recommendation deserves most care
full consideration.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-04-06

The form which this credit has
most largely taken up to date has
been loans from our government 10
the government of our allies That
cannot continue We can extend
short time acceptance credits, but
they cover only a small part of the
problem The government is ar
ranging to extend 81 900, 000,OOO of
credit to our exporters, to run for a
term as long as five years, and
that viii help. But the amount may
prove insufficient If the rate of
excess Of exports over imports for
The two months Of January and Feb
rual-y were to continue, $1,0O0,-
100000 would completely finance
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-04-06

An increase in the capital Of the City
Bank Trust Company from 81 900, 900 to
100000 has been approved by the state
Banking DEPARTING
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-04-06

The new stock Of Philip Morris & Co.
Ltd will be ready for delivery Monday.
April I. at the office of the Bankers Trust
COmpanN.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-04-06

The Guarants Trust Company of New
York has been appointed registrar of the
stock of NJ. Willis Il Sons. incorporated.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-04-06

We do not want d resumption of
the race between prices and wages,
in which wages are always losing
and the market basket travels high
er than the pay envelope. We do
not want the gold, and Europe does
not want to pay it, Moreover, pay
ment of our international trade bal
ahce in gold would be impossible.
In the month of January alone the
value Of our exports exceeded that
Of imports by s410,000,000, an
amount exceeding the total produc-
ton Of gold in the world last wear
outside Of this country. If we want
to maintain our export trade, and
even if we want merely to get the
best method Of settlement for the
excess already piled up, we cannot
permit Europe to pay us for it. We
must extend her credit, as much in
our interest as in hers.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-04-06
Wall Street Items

Robert Grant. jr Of Higginson g. Co..
Of Lee liEginson & Co., is
in this country whore he will attend to Ger
tain business Interests.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-04-06

=, The Federal Reserve Bank of New
YORK has put IN force the following
schedule OF re3iscount rates which
apply TO bankers acceptances: Maturi-
ties uD t. 5 days, 4 per cent; l6 to
GU days, inclusive, AZ per cent; 6 to
20 days, inclusive, an per cent