davidaulloa/AmericanStories huggingface dataset:
The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1919-02-12
MORE JUDGES
NECESSARY AS
FIFTH WHEEL

Speaking on house bill 124. which
reduces the number of judicial dis
tricts from II to six,' increasing the
number of judges from II to 10, Rep
resentativc Burtness Of Grand Forks
in the house Tuesday said:
'"Thcre is considerable merit in Il
plan Of fewer districts and more
judges in each. There is, however, no
more need of additional judges in this
state than there is for Il fifth wheel
OIL an automobile. One district judge
has told me within the past 10 days
that six or eight Judges, sproperly dis
tricted. could take care Of all the
business in the state. I oppose sal
aries for additional judges amounting
to $4,000 per year unless necessary
l also oppose the proposed plan to
make the counties pay the salaries and
expenses Of the judges. Furthermore
the proposed districts have been formed
without regard to railway accommo-
dations and expense and without prop
er regard to work done in various dis
trictS. .t.l 3.T.... II s+','' III 5-' .-'
The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1919-02-12
DICKINSON ELKS
MAKEREPLYT0
BUDGET BOARD
Deny Bad Faith or Ex0rbitant
Rental Charges for the
Use of Building

| Several days ago the Tribune car
ried the budget boards views of the
rental charged the Dickinson normal
for the upper floors of the Elks' tenn
pie at Dickinson. Today the Tribune
presents in the following letter the
opinions of the Dickinson Elks on this
subject:
January %, 1919.
The Bismarck Tribune,
Bismarck, North Dakota. -.
Gentlemen: p p < f..
In the issue of your paper Of Janu-
airy 81, 1919, appeared an article stat
ing that Dickinson men asked too
much for rental of hall" and that the
Dickinson Elks asked $500 per month
for rent of upper floors of building
for normal school purposes, while they
are renting the lower floor for the
sum of $12O per month.
In order to correct these misstate-
ments of fact, we wish you to publish
this communications:
A committee representing Dickinson
Lodge Of Elks met with Mr.. Vermilya
and Mr.. Muir of the Board of Regents
on the evening of January Is, 1919, at
which meeting the following PROPOSE
ton was made to Mr.. Vermilya and
Mr.. Muir: that the third floor, having
a space of 5Ox14O feet and a portion
of the second floor, having a floor
space of about 50x90 feet, including
the furniture therein (Which furniture
is of the approximate value Of $4,000,
would again be rented to the Board
of Regents for the purpose of con-
Quoting the normal school therein
from July I, 1919 to July l, 1920, for
the rental now being paid for the
same by the Board of Regents, namely
$222.22, and if the. Board Of Regents
desired more, space, two additional
rooms would be available to them,
making the space of the second floor
5Ox12O feet, for the rental of $3.50 per
month.
. The first floor of this building is
now, and for the past five and one
half years has been, rented for the
sum of 1925 per month, which fact
was made known to the Board Of
Regents.
At the conclusion of our meeting,
the representatives of the Board of
Regents requested we submit our
pfOpOSltlOn IN "ilClls, WHICH WOO
done in the following letter:
Dickinson, N. D., ~
January 16, 1919.
Mr.. Charles Leissman, -.
Secretary Of the Board of Regents,
Bismarck, North Dakota. -
Dear Sir: - @. - -
81 Last evening the officers of Dickin-
son Lodge of Elks had a meeting with
Mr.. Muir. and Mr.. Vernilya Of the
|Bohrd 81 iRegents IN regard to renting
the two upper floors of the Elk build
ing for location for the normal school.
The Elks make the following offer
The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1919-02-12
"WEDNESDAY, FEB. Il, 1919.
HOME T. UMBER
co. AGENT HAD
NO LICENSE

Win S. Mitchell of the state exam
iner's office is back from q tour Of
Nlinot, Fargo, Grand Forks and Kug by
on the trail of a salesman Of the
Home Lumber Co. charged with sell
ing stock of that company without
a license. The matter, which is
personal one between the state and
tho agent not affecting the Home
Lumber CO, will be tried at the June
term of court at Rugby.
The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1919-02-12

Board Of Regents for the same build
ing since October l. 1918. No increase
has been made in the sum requested
for rental, unless the normal school
wanted other rooms and in that case,
the rent to be $3.50 per month, as was
agreed upon in September, 1918, when
the building was first let to the Board
Of Regents.
Very truly yours,
I Dickinson Lodge of Elks,
BY J. Q. Cain,
Secretary.
The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1919-02-12
TOO LATE TO CLASSIFY

FOR RENT Modern, five room ,dni
pick. Water furnished. Inquire
211 Rosser street or phone 36OX.
a~s '1.ns ,A,@sas, ,.a 2-12-1w
The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1919-02-12

Following 10 the Petition,
no the Ho,torabl lie II ensbers Of the Sir
teenth Legislative ACKNOWLEDGEMENTS
Thirty-Sirth District, State Of NORTH
New-York tribune., 1919-04-10
Confers With Bankers
Meyer Tells of Plans for Finan.
cling Railroads.

Eugene Meyer, ir., managing dircc-
tor of the War Finance Corporation,
was in New York yesterday comforting
with bankers about future borrowings
for the corporation and the railroads.
He said that the S200,O00,OOO of one
year 5 per cent notes of the corpora
tion offered last week have all been
sold and are we'll distributed.
According to Mr. Meyer, plans have
been completed by the railroad admins
tration for the issuance of approx
mately $200,000,000 in certificates of
Indebtedness, direct obligations of the
railroad administration, which will be
turned over to the railway equipment
companies as payment for equipment
that has been purchased for the rail
roads.
The railroad administration oriei-
nally bought s31O,000,O0O worth of
equipment and still owes the equip.
ment companies in the neighborhood
of S1S5, 900. Payment of the
amount due the equipment concerns,
pending the appropriation of the
money needed by the new Congress-
will be made in certificates which the
companies can take to the banks and
borrow against.
New-York tribune., 1919-04-10
Steel Prices Discussed
AT Meeting Held Here
Industrial Board, Rail Admins
tration and Trade Interests
Hold Conference

George M. Peek. chairman OF the In
dustrial Board and representative of
the railroad administration. conforrod
yesterday with members of the general
committee on iron and steel of the
American Iron and Steel Institute in an
effort to reach an agreement on prices
tor steel rails. The meeting lasted
until late in tho afternoon, when the
following joint statement was issued nv
Ebert II. Gary:
at the request of George N. Peck
chairman Of the industrial board of the
Department of Commerce, meeting
was held between Messrs. r. S. Lovett,
Henry Walters and II. B. Spencer rem
resenting The railroad administration
and few of the members of the zen
cral committee Of the American Iron
and Steel Institute for the sole purpose
of discussing the subject of PRODUCING
costs of certain lines Of steel in which
the railroads are especially Interested
IT was understood that the representa-
tlvcs OF the railroad administration
would report tho information obtained
to Director General Hines"
This statement disclosed that judge
Lovctt and Mr.. Walters had been an
Po''it"u SPeclal committee by Director
General Hines to represent the railroa d
administration at yesterdays con
ference.
Although those present at yesterdays
meeting referred all inquiries regard
ing the nature of the discussion to
Judge Gary who refused to elaborate
his statement it was indicated that =
mass of evidence was offered to prove
further price concessions on steel rails
would wipe out margin of profit. At
tention was directed in the trade te
the statement by Judge Gary in Tues.
days Tribune that the United Statcs
Steel Corporation cannot manufacture
steel rails at the low figures suggested
by the railroad administration an(
make profit on the basis of cxistine
operating costs.
New-York tribune., 1919-04-10

densome taxation. 1t is disregarding
countless pleas for proper adjustments
of cancelled wartime contracts, it is
breaking implied promises to business
concerns-the International Mecantile
Marine affair is an instance-and it is
playing fast and lose with vastly i'm
portant agreements with industrial IN
terests, as the short life of the re-
Gently made steel price agreement
serves to show.
at is not strange, therefore, that
there should be widespread distrust Of
the government, and that this distrust
is interfering with business progress.
Also there are social unrest and la
Dor arrogance to keep in mind To be
sure there is no danger here of the
crude Bolshevism that is threatening
Europe, but nevertheless there is dan
gerous Indifference throughout the
country to the introduction into our
laws of Bolshevist iples-chefiy
the destruction of property without
compensation. 1t is this principle that
VIII be put into practice when the new
prohibition amendment becomes oper-
ative and. IN my opinion, this prob BIZ
tlon law is OF far more Importance and
TAR more serious in its relation to
property rights than is appreciated by
the country as a whole. l do not wish
to be thought pessimist On the con-
trary, am extremely hopeful and con-
hdent of the future. In due time the
clouds will disappear from our business
skies. But while they continue threat
ening.. | think that conservatism
should temper the optimism that is
warranted BIZ underlying conditions"
New-York tribune., 1919-04-10
Kent Going Abroad
To Study Exchange
May Discuss Credits Here With
Bankers of London, Paris
and Rome

Fred I. Kent, director of the Division
Of Foreign Exchange of the Federal
Reserve Board, sails in the next few
days for Europe, where he will spend
several weeks looking over the interna-
tlona exchange stuation
While abroad Mr. Kent will visit
England, France and Italy and may pos
slbly go to Spain. He refused to saw
anything about the purpose of his trip
yesterday although in banking quar-
ters 1T was stated that Mr.. Kent would
make a careful survey of the foreign
exchange situation.
It is also expected that Mr.. Kent
will discuss with the bankers in Lon
don, Paris and Rome the matter of
future credits that are to be arranged
tor the purchase of commodities in the
United States. 1t is understood that
private interests in Italy are particu-
larly desirous Of getting loans here
Just as soon as possible and that act
ual negotiations will be undertaken
immediately after the signing of the
peace treaties at Paris.
Other countries that will seek to
arrange credits are Belgium, France
and the scandinavian countries.
New-York tribune., 1919-04-10
NO Cut in Ocean Rates

Although it was reported that the
ocean freight -ate to France had been
reduced from $40 to $35 a ton, repre-
sentatives of the leading Steamship
companies yesterday denied that they
had lowered charges. They explained,
however, that some ships chartered for
special voyages were accepting freight
at the lower rate in order to be able
to leave their docks at the scheduled
time and avoid the payment of deinur-
rage.
Brokers interested in the buying and
selling of ships said that inquiries we're
fllterlng in to this port from Norway,
France, Italy, South America and other
parts of the. world, but that actual
transactions for the most part are be-
ing postponed until the signing of the
peace treaty and the formulation of an
authoritative programme by the United
States Shipping Board.
Because of the uncertainty of the
present situation, shipping men declare
they are forced to move in the dark
and are unable to see many weeks
ahead.
New-York tribune., 1919-04-10
Wealth. Mark ets-Investm ents

has been said about wage mainten-
ancc has ignored the fact that so
per cent operation of mills, as is
the case with most independent steel
companies, has already made In
roads on weekly wage earnings" ."
The heart revolts at calling labor a
"commodity.' 1t has been legally
decided that it isn't. But economic
forces affect it exactly as they affect
a commodity. And if so per cent
operations throw men out of work,
the only choice is to leave those men
out of work, or to take them back
at wages that allow steel companies
to turn out their product cheaply
enough to stimulate demand. The
averave daily iron production in
March was 99,685 tons, compared
with 105, 5,006 in February.
Comparison of our foreign trade
with Great Britain's is instructive.
In the two months of January and
February '7e bought S448, 100000 of
goods and sold S1,181, 100000 worth.
Great Britain in those two months
bought $1,207, 100000 of goods and
sold only $471, 100000 worth.
New-York tribune., 1919-04-10
Westinghouse Electric
Sells British EyoId;uo.

A deal involving the sale of the Brit
lsh holdings Of the Westinghouse Elcc-
trlc and Manufacturing Company and
the completion of commercial alli-
ancc for the expansion Of its foreign
trade we're announced yesterday bv
Guy +. Tripp, chairman of the board
Of directors. Mr.. Tripp. who returned
TO thls country Tuesday from an ex-
tended trip abroad, said that the pro-
posed agreement for the sale of the
ccompanys English investments calls
for cash payment
In banking circles it was reported
that the cash offer made for the British
interests of the Westinghouse companv
appropriated $70000O0. These hold
lngs include securities of the Metro
politan Wagon, Carriage and Financ.
Corporation, Ltd, which were received
py the american concern in payment
for stock control Of the British Flec-
trlc and Manufacturing Company, which
was disposed of in May, 1917.
New-York tribune., 1919-04-10
Restrictions ON
Short Selling
Lifted by Board
Last of War Emergency
Measures Imposed to
Prevent Bear-Raiding''
Removed by Exchange

Restrictions enforced by the New
York Stock Exchange since November,
1917, to prevent "vicious' short sell
ing of stocks were summarily removed
yesterday by the governing committee
of the institution.
AS a result of this action members
of the exchange or their firms are no
longer required to make daily reports
to the exchange authorities covering
intimate details of their operations
each day on the short side of the mar
ket
The removal of the restrictions re-
stores a free market in stocks and
lifts the last of the emergency war;
time measures enacted by the Stock
Exchange, cooperating with the bankers
and the Federal authorities, to prevent
unwise speculative activity in securi-
ties
Under the regulations that have
been abandoned after being in force
for a year and a half members of the
exchange or their firms, who were bor-
rowing stocks either for themselves or
for their customers, were required to
furnish daily at II o'clock noon to the
committee on clearing house of the
exchange a list Of all stocks borrowed,
together with the names and the
amounts Of borrowed stocks and from
whom borrowed. At the same time
they were required to deliver in a
sealed envelope list of the names of
customers for whose account such
stocks were borrowed and the amount
borrowed by each customer.
The sealed envelopes were inspected
by the committee of business conduct
in its discretion Members of their
firms were also required to furnish a
list of all loaned stocks, the amounts,
the names of the borrowers of the
same and the amount loaned to each
borrower.
These restrictions were put into
force at time when stock prices were
breaking wildly on the exchange and
the decentralization threatened financial
disaster. 1t was charged that there
had been "bear raiding" of vicious
character by some interests, and it was
also alleged that stock market prices
were being depressed in unwarrantcd d
manner by concerted efforts of enemy
aliens. The market continued to de-
cline after the restrictions were put in
force.
After the market became stabilized
the necessity of daily reports passed,
although up until the present ali
houses have complied with the ex-
change requirements in this respect
New-York tribune., 1919-04-10
Finance Economics
Copyright. 1919. New York Tribune Inc)

Copyright. 1919 New York Tribune Inc)
Whatever may be the future Of
the quotation for American Inter
national Corporation stock, the pur-
chaser is at least diversifying his
holdings. When he buys American
International he buys at the same
time Marine preferred, United States
Rubber, Industrial Alcohol, and all
the other stocks the company holds.
The weekly statement of the Bank
of Germany, showing condition as of
March 81, is one Of the most ominous
statements ever put out by that in
stitution. Note circulation increased
during the week S247,O99 900 De-
posits, which are merely another
form of credit imitation, increased
$G33, ,773,000, that increase being
more than balanced by increase in
loans. To top all, gold holdings de-
lined another S63,O79,OOO. This last
item doubtless reflected payment for
foodstuffs.
In its weekly comment "The Iron
Age" makes the point that call that
New-York tribune., 1919-04-10
Export Company Organized L
Du Points Form Big Trading
Corporation in Association
With Bonbrisht & Co.

WILMINGTON, Del, April 9.-Alfred
I. dupont, of this city, has organized q
S12,000,000 corporation to take care of
import and export trade. The Nemours
Trading Corporation, as the new or
ganization is known, will take over the
French American Constructive Corpor
alton, the Allied Industries Corpora
ton, a New York firm, and the Mer-
chants and Manufacturing Exchange
Of New York, owners of the Grand Cen
tral Palace.
Branch offices of the corporation
have already been established at Lon
don, Paris, Manila, Buenos Ayres, Rio
de Janeiro, Santos, San Paulo, Deme-
rara, Surinam, Jamaica, Trinidad, Bar
bados, St Lucia, Grenada and St. Vim
cent. Other offices will be established
at later date.
Mr.. dupont will personally direct the
work. Associated with the Nemours
Trading Corporation will be Bonbright
e. Co., of New York.
New-York tribune., 1919-04-10
Lackawanna Steel Co.
Earns S3.4 a Share

Net earnings after expenses and
taxes of $1,997,o91 were reported by
the Lackawanna Steel Company for the
hrst quarter of 1919, compared with
SS' l4o ,521 for the corresponding period
After allowing for further charges
aggregating S79O,8S2 for interest, de-
preclatlon, etc, there was balance
OF Sl2o7, ,lO9, equivalent to S3.43 a
share earned on stock, compared with
S648 share in the quarter ended
March 81, 1913.
The company had on hand on March
81 untitled orders amounting to 12457O
gross tons, against 7OS, ,199 tons in the
corresponding quarter of last year.
New-York tribune., 1919-04-10
The Dollar i'm Foreign Exchange

The foreign exchanges developed an
easier tendency yesterday in one Of
the dullcst markets in weeks.
Sterling rates declined, with demand
bills closing at $4.64H, compared with
$4.G5H on Tuesday, Rates on Pals
we're slightly lower, while there waa
further decline in Italian exchange
The neutral exchanges we're steady.
Closing rates yesterday. compared
with q week ago, follow:
Quoted dollars TO the pound)
Yes Week
tcrday, ngo.
Sterling, demand ...$4.64a S4.62M
Sterling. cables ... 4.65N 463M
New-York tribune., 1919-04-10
Market Opinion
Adyance-RumeIy

Shares OF the Advance Rumely
Company have displayed strength. Yes
terday the common stock advanced a
points to 33A4 and the preferred gained
traction. Hirsch- -Llienthal & Co.
point out that the demand for agricu-
tural machinery is likely to be the
greatest in years and the manu-
facturcrs of such accessories are in line
Tor tremendous export movement of
their products. Among others" they
state "the Advance Rumely Company is
pre- eminently qualified to cope with
the present emergency. Both the pre-
terred and common shares seem to be
IN secure position and with the in
dlcatlons of increasing revenues, fur
ther enhancement in market price
would seem warranted under the cir
Gums stances"
Market Resistance
Whatever may be ones personal
views as 20 the circumstances sur
rounding the stock markets opera
tions at this timc," say Nicholas &
Stone, sit is impossible to get away
from the fact of its stubborn resistance
to all adverse influences, and partcu-
larly to the heavy liquidation which
about a complete reversal of position
Predicts Further Advance
Arthur Upper, of Arthur Upper &
Co., put this on the wire yesterday be.
fore the market opened: Il am in
clined to believe that the advance viii
90 further"
The Cotton Outlook
Springs e. Co. say: at seems just
now highly problematcal whether fol
the fifth year in succession anything
like q satisfactory crop can be raised
especially as it is feared that boil
weevil will prove unusually trouble
some. In all likelihood the world will
look to America for cotton and cottor
goods this year as never before"
New-York tribune., 1919-04-10
FELTON,, Chairman of the
Union Tank Line Comnapv

Henry +. FELTON,, formerly president
of the Union Tank Line Company, has
been elected chairman of the board of
directors, newly created position
William A. Barlow succeeds Mr.. FELTON,
as president and Z. c. Sicardi was ap-
pointed first vice president, taking the
place of Mr.. Barlow. Elmo l.. Gridley
was elected TO the board to succeed
Thomas Beaghan, jr.
The report for 1918 disclosed net
earnings of S1'253,0l9, equivalent to
capital stock. This compares with s3.-
709,5l6, or $30.91 a share in 1917. Divi-
dcnd disbursements amounted to 5000
600, leaving a surplus for the year of
S653,o19. or S2,456, 497 less than that
Of the preaching Ncar.
New-York tribune., 1919-04-10
Be Optimistic and
Conservative, Too,
Is Brokers' Aduice

EOHN H. DAVIS, who for more than
d forty years has headed the Stock
Exchange house which bears his
name, said yesterday in discussing
current conditions:
There is ample reason for optimism
just now, not only upon the stock
market but upon industry and business
in fact, upon the nation and
reason also for conservatism-even
caution. We have emerged from the
great war far richer than ever, with a
commanding creditor position in world
finance and with unprecedented produc-
tive capacity to supply the needs of
crippled Europe and of the nations
which formerly were Europe's best Gus
toners. Our industrial corporations,
70 big and little, are disclosing equities
and earning power in relation to which
their securities are obviously cheap.
We are feeling and must continue to
feel the influence of that imitation
which, in spite of restraint, must fol-
low the rapid swelling of our national
debt. Certainly these are conditions
which warrant optimism and bullish-
ness.
Misuse of Power Disturbing
But against these factors. one has
to keep we'll in mind that we have con-
ditions within our own boundaries s
which make for unrest and hesitation
and doubt, and present serious obsta-
cles to development and progress. We
are being held back chiefly, | think. by
the alarming assumption and misuse of
arbitrary power at Washington, where
something very like despotism now pre-
walls. And it is despotism that is
neither benevolent nor intelligent.
"Thc government is unjustly pro-
longing inefficient and Improbable
Federal operation of railroads, tele-
graphs. telephones and other utilities
and businesses which, when in the
hands Of their rightful owners, furn-
ished facilities and service beyond
compare throughout the world. 1t is
openly pursuing the policy of keeping
wages up. marking prices down and
placing upon capitals consequently re-
stricted earnings the heaviest Of bur
New-York tribune., 1919-04-10
Stores Surplus
Drops Despite Laroer Cross

= Gross sales Of the American Stores
Company and affiliated companies for
amounted to $62,315,A65, or $l.1ol s5S
larger than those of the preceding wear.
Manufacturing expenses were S52'O18..
770, leaving gross profits of $40 ,296 .G95.
Federal and state tax deductions a,-rrc.
gated $l0s6, 1855, an increase of S434.-
1872. After $717934 for preferred diyi-
dcnds and sinking fund, surplus for the
year was S535,6ol, or equal to $3.76 a
share on 1a2,240 shares Of common stock
outstanding Of no par value.
New-York tribune., 1919-04-10
\ Shoe Stock on the Curb

The listing committee Of the New
York Curb Association yesterday ap-
proved for temporary trading the 420.-
600 common shares Of par value of
500 and 10000 preferred shares of "A
par value of 500 OF the Endicott-J ohm
son Corporation, to be traded in "whon,
as and if issued" The Endcott-J ohm
son Corporation Ia the largest single