davidaulloa/AmericanStories huggingface dataset:
Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1919-08-06
UNITED STATES GoN'ERSMENT RONps
SHORT TERM SnrFs

Am Tobacco Is. Nov /. 1919. lnoi1
Am Tobacco a.. Nov. ]. 1921 ............. 1897.
|AnEio-French IS. Oct, IL. 1877. ..........9I sis
Armour and -. =. June ID, 1925. 10:
british Sis NOV. I. 1919. 100 LIS
british Sz Nov !. 1921 Observation-Disclosures. ga.
: Il ard @. Joint Is July l. 1871 ...... rs
.udahy Packing co. ~. July Is 1928 az
|rInc. hutn-T.ii" Go. SIS. AUG L.. 1879 Inn
Hooking Val nv. Col Tr G.. Mar !. 1925 a.i.
Jacob Dod Packing co IS. Nov. IL. 1923 1913
iacoh Dold Packing co. IS. Nov 81. 1925 inai,
|I.igge;t and Myers IS; Dec | ,e2l ..... loot.
|MoiInc plow Co IS. Sept. l. 1921 Iniii
Moline Pillow Co. IS Sept l. ls?3. !n2
|Mo-onrahclo Valley Traction Co II
|rrorin- and Garrh" IS March ! ia.t Iaor
Proctor and Gamble IS Mar. I. 1921. lG"i,
Proctor ard Gamble IS. Mar 1929 . lh3i,
|sou,hern Railway GS. Mar. !. io:?...... ani.
swift and Co. 6. Aug. 10. io.l........... 1908.
w ss. lr ~hcus" r "c'"'' nd Manufacture
], ing g. Feb |. Observation-Disclosures. lonii
Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1919-08-06
NEW YORK; COTToN MARKEr

NEW IOTk, NuEuSt hI-I.inuINa Ton
.auscd sensational declines in cotton carly.
: business was fcvcrishiy active throughout
posing Of Ion" stun freely In the final
hours. Cooperative operators failed to sec
Of early resumption OF the former bull
movement. Crop. reports were badly mixed.
ing attention.
Early In the hnal hour prices broke to
about the forenoon low level under re-
newed liquidation. Southern selling and To-
,al- pressure. On scale down the trade
~as the best buyer. but withdrew on rail-
Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1919-08-06
new LOAN RECORDS MADE
WITH TWO POINT LOSSES
violence of Breaks Brings Buyer
From Outside Into the
Market.
RESPOND TO MARGIN CALLS
in the Last Hour Cut
On About Half OF the Advance.
Increased Freight Rates Are
Predicted.
nY nRoApAN NALL.

NEW YORK. August 5.-Stocks open
| Hu weak and so active today taa; the
ticker was "A, one time twenty minutes
D:linh the market. New low records
were made. with losses running an
average OF t"o points through the
entire list. Tine very violence Of the
T,reaks brought buyers into uhc mark ct.
IA rSain hunters were in every Office.
Margin Calls sent out by commission
ouses had been responded 10 cheer
fully.
There was an entire absence Of the
sem ,, panicky feeling that Was so evil
dcnt the previous day. Calm con-
& Iteration Of the demands OF the labor
unions mad convinced the people tina,
In leaders were simply making bid
OF octter treatment. and had no idea
10! u being taken seriously.
ouyinS movement, set in that
v aTsGo pr';es to advance even more
FRONT taking in the last hour Gu, Of
about half O' this advance. a, the
tr raS 81 me sh day 9n",h;rd OF he stoek
the others were not large.
Recovery Expected.
While. the recovery in uhe mark ;;
was TO be expected az a purely techn =
ca. movement, there was a definite rca-
c cHn 'Hr i; n,a IeadinF brokerage house
banking interests. pu; out rcpor.
mat the government would grant a
p. per cent increase in freight rates
an advance Of wages and prevent the
strike.
SUCH action on the part Of the gov
th would De an ultimately bear
an increased tax aid on Industry 1t
YOU'D nurt the whole situation. Also
because II would mean iha: the gov
tthment had been frightened by the
IN I'm anGt o' the union leaders. But the
.rst eNect was 10 calm the spccuia :
i've mind and frieh;cn the bears into
GOVERNS their contracts
Inc violence Of the recovery testified
tne professional character OF the
Petroleum shares Lead -.
fetr9.eum stocks lead the. advance,
Motor stocks. stecls and chain store
sharcS in general followed. steel Was
me real ieiGc-. however. when u be-
gan is advance the whole street
watched Il for short time and then
quicnly turned 10 bring me may spe'
az .tS INTO Inc Win it. Al each
success!N. surge o! tlc rising move
ntht mere NcT" cheers on ,he FIX
ma nSe tn testimony OF the fact that
An Stree; = bul!!sh at heart
Leaders o.. the financial world do
not believe the bull market is ended
me! look upon the present feverisa
ness as nothing more than a ser!c
DIG campa!gn. rley arc not en-
t.rcl% d!spleased, either. al -cceni
deTe !oamenis. FOR weak traders arc
pehS Kept odt OF the market. and j;
20 peen worked down 10 level from
"n!cn oiS movement can be started
na4er Ii Is still possible TO have bad
3nt"s on some crops, particularly corn
nc movement in contemplation Is 50
onprchcns."e that the leaders would
IKE, all reports in before so!nS Il
i " crN IN earnest.
Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1919-08-06
CHICAGO GkAN MARKrr.

CHItAvO, AUGUST o.--Hern pa MT bFoKt OUT
his afternoon among holders OF grain and
provisions. The fright 10
market effects OF possible sudden swce ping
action Washington to~a nj putting wheat
into Tho hands OF consumers at price
f,r below What The government, has guar
antecd TO pay the farmers. During the con-
.rvueat selling stampede. corn made
sheer descent 0! much 10 cents
hushel from ;hc. days top. and closed CT.
cited ii1C 1i-c ne; lower. OatS lost
i7c 10 sac. and provisions AL the way
Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1919-08-06
CHICAGO LIVE sTOCK MARKET,

30: 50 cents lower: heavy weight: . % u
Sileoi
medium ard heavyweight. choice and prime
li,1om ISIS: veal calves. n=ht and handy
weight. isooNf .IiS. s;ocker steers. 1.nlH II 20
sheep: receipts. 1900: unsettled Lambs
81 pounds down. IL Sls.T5: ewes. medium
good and choice. 70TeCo.
Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1919-08-06
LIVERPOOL. COTTON MARKET

LiNERFOOI.. AuEust S-Cotion apot Drices
casier: good m.ddlinE pos fully midd,in-
-: middiinE. 1919: low middlins. Nci:
good ordinary. 1879: ordinary. i5.s6: sales.
600 bales. including e.I0l American. Re-
ce.pty. anooo eales. Including ls.Io0 Amer.
Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1919-08-06

.!ed Closing price. were very steady a,
net decline OF IS 20 81 points
$40, here quiet AZ decline OF so
points az &c: there were no sales. Spot
az NV Orleans WAS Quiet with middiing
% points lower at 3LToc. the SAID. were 81
Iodays por; receipts totaled 1885 bales.
~hiie exports aggregated 5s.Ss bales
Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1919-08-06
Roosevelt III In H..pi..l.

CHICAGO. August o.-Captain Archi.
bald Roosevelt. who is i'll with symp-
toms OF trench fever at tho Chicago
Hospital. passed good night. and was
reported on the road to recovery to-.
day. Attending physicians said he
would be able to leave the hospital
in few days. His wife and two
children arrived in Chicago today.
Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1919-08-06

NE" YORK: August 5.-Cottonseed oil.
arc. starting lower under general liquda
ton reacted on short covering. but the
i!st again weakened with other commodl :
tics markets md closed d 10 % points ne.
lower. Sales: 1900 barrels. Prime crude
nominal: prime summer yellow spot .. %:
September 2e.S: December. 40: March.
Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1919-08-06
DRY GOODS.

NEW YORK. August a.-Cotton goods
markets. were quiet today. with casing p
ported In gray goods. Yarn. held steady.
Silks were unsettled in consequence Of
hrm.
Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1919-08-06
NAVAL. STORES

SANANNAH. GA. August 5-Turpentinc
nrm i3,1. sale; So: receipts. Hs: ship
kosin. tirm: sales. rs: receipts. IN: ship
mcnts. a.s:3. stock. -. 322. Quote I3. iIo
d. E:.?: T.. l'.i3nlso': r.. Is ioaas: q. 49,;
msn: u. Is ionialo: !! los,H75: K. .o.75: "
.te5
Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1919-08-06

;he market dropped TO levels aoou, 81 4
bale down from the highcSt prices reached
during tho last week 2. July. General
10 uidation OF long contracts and large
volume Of short offerings appeared the
opening and again in tn. iatc par, OF IN.
session Around the middle OF tho day
there strong rccoVerieS. hut In the
afternoon fresh weakness carried the
Xct DOWN 10 about the lowest. The close
shoned net loss-s for the session Of 20 to IS
points.
tn. initial decline amounted l2s to
ia points and not little Of IN. early sell
Ink due 10 pess!fntst.c stock market
reports overnight. and inc continued
a citation over the high cost OF living. The
weather map also was considered of favor
able enough to be bcArish factor. The
recoveries from :hc decline were due TO
realizing By .horts while tn. afternoon
break was bsscd or the weakness o! franc
exchange. II the last half hour OF bust
ness ;he.e Was more realizing by shorts
and this demand closed the day with a
-
Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1919-08-06
NEW yoKK CuRn Market

COFFEE.
NEW YORK. August l-Saot coffee du
Rio l. -: Santos t.. :3s.
Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1919-08-06

sew YORK. August Port movements
N;ndiinF go exports i"' stock. $780,
Totai ;oday-Receinis. lAiat: exports. i2.-
SO. stock. / iO1 81
Total Tor wseA-Reccip,s $500: exports,
1885
Ieta! for Receipts. @.75: exports.
Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1919-08-06
MISCELLANEOUS MARKETS.

lean. Futures closed IRREGULAR: September,
l2,:: october. 9ss: January. o.lo: March.
% ID. MAY, 2O.lt
Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1919-08-06
RICHMOND HAY .IAnKEr.

NEW YORK LIVE STOCK MARKET.
NEW YORK. August Sleeves. trad
Ing; Caves steady; common to rrime
vca.s. IS ooN 23GO: cu!is. 1000 1900 Shccp
md lambs, steady: ordinary to good VIZ
Sinia lambs. l5.5nM iS25: culis. lhrJa l.Cn:
common good sheep. 500 q 8 90: culis.
Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1919-08-06
t NEW yoEk rMnpUCE MARkE5.

LOG 500 Hogs. steady. at $50 for prime
medium weights: rouEhs. %. D
Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1919-08-06


r. J. Reynolds Tobacco Company
Three Year Per Cent Gold Notes
August
il yhnertd
Gent 10 then haingtuo r
int stfo
of the j
SIN andch tobac
Camel Cigarettes
il
to the
asse wereo
the quick all
and loter
theno
Will not mortgage or pledge
hmethe
O winbe used
Price 100
BANKERS TRUST COMPANY, BERNHARD sCHoLLE & CO..
WACHOVIA BANK & TRUST co.
Statements wmhhs OF he bcaawnanen guaranteed,
Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1919-08-06
RICHMOSD GRAIN MARKET.

Nho'e~, 80. - "a = -" 2"
Richmond. Va. AUGUST =. 1879.
New-York tribune., 1919-07-03
Organize Candy Company
Will Take Over sTootsie Rolls
and Lance COUGH Drops

The Sweets Company of America,
Inc, has been organized under the laws
of Virginia with an authorized capital
stock of s5,O0o,00o to take over the
business Of the present company of
the same name and the capital stock
of the Lance Cough Drop Company.
According to an official announcement
yesterday, the new concern will ac-
quire the properties Of other candy
manufacturing concerns.
Directors of the new company in
clude Samuel F. Williams, presidents;
Joseph kaufman, vice e-president, who
is also president OF the American
Safety Razor Company; Leon Schnasi,
of Schinasi Brothers, and also presi-
dent of the Importers and Exporters
Insurance Company; Calvin Truesdale,
Malcolm Sumner, Leon Hirschheld,
second vice-president of the company,
and Milton Dammann.
The new company, in addition to
manufacturing Lance Cough Drops,
will continue to make Tootsie Rolls
and Nut Tootsie Rolls. The Stock
Exchange firm of Block, Maloney & Co..
has organized syndicate to purchase
block of the stock, of which $3,OOO,-
600 is to be issued.
New-York tribune., 1919-07-03
Pacific Development Corp.
Earned SI5.O4 a Share 1913

', AS result of operations in 1918, the
Pacific Development Corporation dis
closed net profits, after provision for
Federal taxes, of s1,736,905, equivalent
to Sl5.04 a share, $50 par value, earned
on the .S5,772.7O0 capital stock, com
pared with S1,226,624, or $14.82 a share,
earned on the $4,138,65O capital in the
preceding year. Holders Of the stock
received $3.50 ,391 in dividend disburse-
ments, or $218,O79 more than was dis
tributed the year before. After all
charges, surplus amounted to 81 ,4O6, ,514.
an increase of $292,2O2.
During the year $1,634,05O par value
OF unissued capital stock was issued at
par for cash, the total amount of stock
issued and subscribed on December
81 1918, being $5,772,7oo, divided into
llo'4o4 shares of $50 par value The
net worth of the company on a basis
Of a consolidated balance sheet at the
end of last year was $8,768,665, giving
the stock q book value of $77.68 q
share, Of which s47.16 share is repre-
sented by quick assets.
New-York tribune., 1919-07-03
Securities at Auction

The following securities were sold va.
taeTray adriay at the exchange salesrooms of
For Account of Trustee
$4,000 City of New York nov oa,.
1a'e ,oso soock' Issue of June. 1903, due Nav
$4,000 $780, Mrlnnneapols St Paul saat 'sss sis
Or csnt. reduced to 4 per C: due 1aas Per
*o.ooo Spencer Turner Co per cent M
Amee1rs. s,uure oohaa due 1926; interest Feb ana
FOR Account Of Whom 1t May Concern
20 shares Morristown Trust Co. s,oo
4' .san shares Woodruff 8 Martin CO. s9Ss 3SS
80 shares schudenfrei Dry Goods Co. siSo 80
7SP o. shares .lss riverside Driv. Xpar;msn;, 80
$3.50 North Atlantic oyster rarr. ~ ~
bonds: bynaF due per- per cent income debenture,
ware. 'ses common moGail s,oc Corporation OF Della,
teo ~ shares Oklahoma Railway Co ~ 50 oS
&C Co. snpfe' of Tennessee Railway. Light Pwr
SoS e. shares Tennessee Railway. Light ~
'3es SHARES Chicago; city 4 conn.s;'nss 4
'Sn ,,, shares Chicago City q Connectin%s
'IaS hsr snarss Sn ss Canadian Puget SOUND Is Lun
iia saah shares Title Guar s. Trust Co. s1oSo
4os s.1S ssafo' Knox Hat Co. is, pi :,5s
5000 Chicago Utilitics Co lat 49,. 6S !.
Sen Sen' .,nS nonaS series A bonds. duo iets. ts.
Hvo Iot shares Chicago Utilities Co, com. sioo
$4,000 Toledo. Peoria & western, Rv "a. :sSTs
mig MY, per cent bonds: due july ~ Iois ~
81 ." zoo sqy ap1S coupons attaehed
nI,s Iats per cent bond; due Jnne 's'
'-A'A>-sAA q ~ssAasAsAAAaA so 4,
New-York tribune., 1919-07-03
Barriers Against
Free Expectation
OF Gold Removed
Licenses for Shipment to
Other Countries Are No
Longer Required; Ban
Consignments to Enemy

Benjamin Strong, governor of the
Fedora. Reserve Bank, in letter to
member banks yesterday announced
that applications and licenses will no
longer be required for the expectation
of coin, bullion and currency, except
to enemy countries and Bolshivik Rus
sia. This step completes the freeing
of the gold market, which was virtually
liberated few weeks ago when the
embargo on the export of the metal
was lifted.
In removing the formal checks that
remained, Governor Strong, bankers
believe, is recognizing that the esti-
mates that the outflow of gold might
reach $25O,OOO,O0O were too higl. and
that the need Of artificial barriers are
therefore unnecessary. Thus far about
$S0,OOO,O0 has been shipped from the
country since the embargo was termi-
mated. The formalities were continued
up to this time to enable the authori-
ties to keep the gold situation in hand,
IN case the spilling out process was
too rapid. Aside from Spain, Japan and
several South American countries, gold
is not needed to settle trade balances
against the United States, as virtually
the whole world is IN debt to this
country.
"The Division of Foreign Exchange
OF the Federal Reserve Board an
nounced to-day that the President had
issued new proclamation under date
Ct June 26, 1919" Governor Strong
says in his circular letter, (Which alb
rogates, with certain exceptions the
provisions of the Executive order Of
January 26, 1918, regarding foreign ex-
change and other related transactions.
Your attention is particularly directed
to the fact that applications and IL
censes will no longer be required for
the expectation Of coin, bullion and
currency, except as stated in the an
nOuncement
ut should also be noted that remit
tances to enemy territory are not au-
thorized except under licenses Of the
War Trade Board
For your information we quote be-
low the text of the announcement made
by the Division of F.reign Exchange
of the Federal Reserve Board:
by proclamatio under date of
June 26 the President has abrogated
the Executive order Of January 26,
1913, dealing with tho control OF for
eign exchange and tn, expectation and
importation of coin, cullion, currency
etc, except that the Federal Reserve
Boar remains authorized to control
dealings with that part of Russia now
Under the so-called Bolshevik govern
ment, and remittances to countries to
which remlttances have heretofore been
permitted only through the American
nellef Administration,
1.-The Federal Reserve Board has lust
that remittances to these
latter countries are Lot now subject
to any restr' ctions. Dealings with
that part of Russia now under the con
troll Of the so-called Bolshevik govern
ment, however, are still prohibited.
Attention is called to the fact that,
except in so far as they are pern tied
by general or a spe ,.fic license from
the War Trade Board. remittan,es to
enemy countries are still prohibited"
New-York tribune., 1919-07-03
Control of Crucible Passes?

1t was common gossip about the
Street that control of the Crucible
Steel Company of America has passed
in the open market. Who the new in
terests supposed to have come into con-
troll sic was not stated. The General
Motors Corporation, which recently in
creased its authorized capitalization to
a billion dollars, was mentioned as a
possible purchaser. The General Mo-
tors organization is large user of
fine steel. Crucible Steel common went
to 104A on excited buying, with an
especially violent uprush in the clos
ing half hour, when heavy orders came
into the market. At this level the
stock compared with high record of
1097s, made during the war boom of
1915. At yesterdays top Crucible was
up about SO points from the low of the
current year.
New-York tribune., 1919-07-03
Steel Acts Well

Steel common made an impressive
showing. 1t touched 1903, within IA
points of its high for the year, and
closed onehalf up, at 1097s. 1t looked
as if there was further covering of
shorts in the stock. In brokerage cir
cles the opinion was expressed that
Steel might be run to 112 on this move
The course of the stock the latter part
of the month, it was stated, would prob
ably be irregular, owing to uncertainty
over what the quarterly statement will
show. The directors meet the last
week of July to act on the dividends.
If the trade reports have been right
the corporation did we'll if it earned
its common dividend during the three
months ended June 80.
New-York tribune., 1919-07-03
Pierce-Arrow Dividend
Directors Decide to Conserve
Funds for Expenditures

Directors of the Pierce Arrow Motor
Car Company yesterday voted to omit
payment Of the quarterly dividend due
on the common stock August 1. Since
May, 1917, disbursements have been at
the rate of $1.25 a share every three
months.
In explanation of the passing of the
dividend for the current quarter the
board said that while earnings for the
fiscal year to date have been at rate
in excess of SIS share, during the re-
mainder of the year the company will
need a considerable amount for con-
templated capital expenditures.
"Net earnings cannot be expected to
continue as in the past" the statement
added, until the transition to a peace
basis has been accomplished. The COM
pany's war orders have all been COM
pleted, and it will now develop its
business on the lines of normal COM
mercial needs. On July the COM
pany's bank loans were $2,150,000, and
it's cash on hand exceeded this sum-"
New-York tribune., 1919-07-03
Market Features

Call money renewed at 8 and 8 per
cent for mixed and all-industrial loans,
respectively. Later in the day rates
cased off to close at 51s to per cent.
The stock market had started with
display Of strength and the upward
movement was accelerated in the after
noon, when it was evident that there
had been Improvement in the money
situation. Industrial issues made new
tops all along the line. There was
Baldwin Locomotive, at 11212; Ameri-
can Locomotive, at "a; Crucible Steel
common, at 1o4A; Corn Products Re-
fining, at s93s; Wilson & Co., at 1O47s;
Texas & Pacific, at 70A, and Sinclair
Oil, at 657s. In the closing hour profit
taking sales were heavy and the ma
jority of stocks closed under the high
New-York tribune., 1919-07-03
Savings Banks Favor
Warfeld Rail Plan
Indorse Scheme for Return of
Carriers to Private
Ownership

The Savings Banks Association of
the State of New York, in a set of res
olutions, has recommended the adop-
tion by Congress of the plan proposed
by the National Association of Owners
of Railroad Securities for returning
the carriers to private ownership.
This plan, it is stated. gives the neces-
sary protection to the various inter-
ests concerned and provides for a per-
centage return of not less than 6 per
cent on the aggregate investment in
the railroads in each of the territories
as now laid out by the Interstate Com
merce Commission and known as the
three classification territories of the
country :,
eve are opposed" the resolution
adds, "to the upheaval either of credit
or of business through attempting to
reassemble the billions of dollars of
existing railroad securities into the
securities of larger railroad companies
with the many legal complications and
practical difficulties incident thereto, in
addition to the time necessary for the
valuation of railroad properties in
bringing about such enforced consoli-
dations-the basis of such procedure"
New-York tribune., 1919-07-03
Heads Simms Petroleum

A., Harry, Bronner, president Of the
day elected chairman Of the board of
directors of the recently oganized
Simms Petroleum Company. .. r
Simms, vice-presdent of the Sinclair
Gulf Corporation, was elected presf-
dent, and Edward Cornell was made
e-president Frank C. Richardson is
treasurer and j. J. HefYerman secretary.
The $4,000 shares of the companv's
capital stock offered for sale yeste rdav
a. S31 share by Knauth, Nachod &
Kdhne, had been several times oversuh.
scrlbcd at the close of business. The
company has an authorized capital stock
OF $4,000 shares, Of which 425,O0O
shares are outstanding.
New-York tribune., 1919-07-03
The Dollar in Foreign Exchange

Sterling exchange broke sharply in
London getting down to $4.54ss and
cable transfers to $4.551a
In foreign exchange circles it was
stated that, with the artificial support
removed from the market and trade
getting back into normal channels, it
was natural that sterling rates should
go lower in view Of the large trade
balance against England.
French exchange was also easier, in
sympathy with sterling, while rates
moved against Switzerland and Hol-
land.
Closing rates yesterday compared
with week before as follows:
(Quoted dollars to the pound.)
New-York tribune., 1919-07-03
Income Tax PAYMENTS

The Federal Reserve Bank, in it's ca
pacity of fiscal agent of the United
States, announced yesterday that the
amount paid on the second instalment
of the income and profits taxes, due on
June 10, in cash and in certificates of
lndebte dness exceeded 95 per cent of
the first instalment, which was paid on
March IS. The comparison indicates
that only a small portion of taxpayers
paid in full on March IS, instead of ex-
ercising the option to pay in four in
stalments. The March instalment
equalled $317 $4,000, and the June in
stalment $3O2, 1926 200
New-York tribune., 1919-07-03
New interpretations Large

In the month of June all previous
records in the history Of the United
States for two decades were broken in
the matter Of new enterprises char
tered. According to "The Journal of
Commerce" 708 charters were filed un-
der the laws Of the principal states
with an authorized capital of $780,
600 or over, involving an aggregate of
s1,255, ,427, 500. In April, 1901, the rec
ord, the total was $1,619, 9,e5o,O00. The
digestion of this great mass Of new
securities will be slow process.