davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1919-08-12
Kansas City Southern Earned
Sl.82 a Share on COmmo,

Annual report of the Kansas City
Southern Railway Company for the
year ended December 81, 1918, disclosed
net income after ordinary charges and
taxes of 1887, $3.50, equivalent, after
allowing per cent on preferred stock,
to Sl.S2 a share earned on the $29,-
$4,000 common stock. After charg-
ing out s3e5,o12, which is excess Of
expenses prior to January 1, 1918, over
revenues. and which.i is really charge
against the profit and loss surplus, bal
ance available for dividends on the
common stock was s182,647. equal to 81
cents share.
Federal income account shows net
operating income for the year Of 49,
129,052, which compares with compen-
sation Of s3,496,385, deficit of $685.
333 for the government. Without the
benefit of the standard government re-
turn the actual showing for the year
amounted to $179,426, or 50 cents a
share available. for the common stock.
New-York tribune., 1919-08-12
Offer American Cotton
Oil Company's Notes

Announcement was made yesterday
Of the purchase by the First National
Bank of s1o,ooo,ooO Of five year 6 per
cent gold notes Of the American Cotton
Oil Company. They are being offered
for subscription by the bank at 99A
and interest to yield about 618 per
cent. The company is to retire an
nually S600,000 par value of the notes
either by purchase at 102 and interest
or by call at the same price.
The proceeds of the notes will be
used to retire $5,oo0,000 Of per cent
notes maturing September and an
equal amount Of 7 per cent notes ma
turing September 5.
New-York tribune., 1919-08-12
TO Put Exchange
Value of Rupee
Above Mint Parity
India Nav Get Gold as Re.
suit of Action Taken to
Make Money Value Ex-
ceed the Bullion Content

Basil P. Blackctt, representative Of
the British Treasury here yesterday
announced on behalf Of the Secretary
of State for India, plans for making
the exchange value of the rupee cx-
ceed the value Of the silver in the
coin. The sharp rise in silver since
the setting free Of the market in that
metal on May 6 is believed to be the
cause of the adjustment.
Beginning TO day the Deputy Master
of the Ottawa branch of the royal
mint in Canada is authorized to sell
rupee cables without limit in exchange
for gold rendered at the mint at the
rate of one rupee for 10.3b85 grains of
fine gold. In terms of British money,
this new rate would make the rupee
equivalent to I shilling, 10 pence
(about 44 cents). For three weeks the
Ottawa mint has been selling rupees
at the rate of one rupee for 9.416s
grains of fne gold, making the rupee
worth 1 shilling, pence (abou5 Al
cents).
Before the war the rupee was
stabilized for fifteen years at l shil!-
ing, 4 pence (32S cents>. Exchange
men characterized the apprecia ton Of
the rupee as recognition OF the
higher value Of silver. Without to-
days adjustment, at the present mar
ket India is on a silver basis for her
worth more as silver than a. money.
The London rate on silver bullion is
58h pence, and the monetary value Of
the rupee at the new ratio to-day be-
comes 59.4 pence.
The new arrangement, according to
some exchange dealers, may result in
the accumulation of some gold for the
account Of India. but the more general
view is that the object of the arrange
ment announced by Mr.. Blackett is to
enhance the value of the rupee enough
to overtake the rise in the silver mar
ket. India is no a silver basis for her
internal trade, but, through arrange
ments with the British Treasury car
ries on her international trade in the
terms of a gold basis.
Rates on London in this exchange
market were steady yesterday, and
French. Italian and Belgian exchanges
we're momentarily stronger. Persons
close to the British government insist
that it is determined to continue to
keep its hands off sterling, and tat
the market remain free. The British
viewpoint is that the declining value
of the pound in terms of dollars will
automatically restrict British pur
chases in this country, and it regards
this necessary for the liquidation OF
the British debt in this country. And
it is said, it is willing to penalize it,
self in SO far as this depreciation is
:sclt in the purchase of cotton and
foodstuffs. which must go on, despite
the condition of exchange.
1t is said that the British govern
ment is anxious to encourage Ameri-
can investment in Great Britain, and
that it felt that continued pegging OF
exchange rates would remove incer-
tives to invest. 1t is understood that
it looked with favor on the purchase
recently by Kuhn, Loeb & Co. Of
large block of Shell Transport stock,
and further deals Of that kind will be
ENCOURAGED
New-York tribune., 1919-08-12
Italy May Resort
to Capital Tax
to Pay Off Debts
Nations Obligations Placed
at More Than $l5,6OO..
OO0,OOO-Crisis Coming
When u. S. Aid Ceases

Special Correspondence
ROME, July 2S.-The Minister OF
the Treasury recently explained in
Parliament, with the eloqucnce Of
figures" Italy's financial situation.
He said that the national debt up to
last May amounted to S15,60O, 900, 900,
out Of which $4,ooo,oOooo0 represented
foreign loans, $4,000 1000, 900 consisted
OF Treasury warrants or bonds, $780,
100000 consisted of paper currency
now in circulation, and admitted to be
three times in excess Of the amount
required, and s54o,ooO,o0o represented
the consolidated and other national
debts and loans placed in Italy
AS the estimated revenue for the
present year will rot exceed So 500 ,o0o,-
600, and the expenditure, including,
naturally, the interest due on loans, is
estimated at $4,15O, 900, 900, it follows
that deficit of $3.50. 900, 900 will be in
evitable. In order to make revenue and
expenditure meet it is proposed to in
crease income tax, levy a new tax on
wine and resort to other measures Of
an energetic nature, if necessary, tsx-
ing capital and not income.
1taly's adverse trade balance amounted
last year to the enormous sum of ST.
4oO,o0O,000, and it is expected to in
crease this year to about $4,000 .0OO.-
600. So far this difference was com
pensated to some extent by the iinan-
clal help afforded to Italy by England
and America. Both placed MONEY at
ltaly's disposal to pay for foods,uffs
ard goods purchased abroad. in order
that ltaly's credit should be guaranteed.
and, as result, the depreciation Of
Italian currency vas somewhat averted.
brltlsh and American financial help
"ill' however, cease, respectively, next
August and next September. and Italv
Will then be compelled to pay for her
imports in cash or resort to private
loans to keep up her credit.
New-York tribune., 1919-08-12
Ratify Transfer of
Sinclair Oil Assets

Stockholders Of the Sinclair (,onsol;-
dated Oil Corporation of Delaware yes
terday ratified the sale of all the cor
poratlon's assets to the Sinclair Con-
sso!ldated Oil Corporation OF New York
IN payment for the assets the Nv:
York corporation will assume all the
Delaware corporations liabilities and
VIII issue all of its authorized caoital
stock, consisting of 1000 900 shares Of
no par value, which is the same num-
Der OF shares issued by the Delaware
corporation and now outstanding. The
s,tockholders will meet August 20 to
dissolve the Delaware corporation
New-York tribune., 1919-08-12
Deficit for Alaska Gold

AS result of operations in the
quarter ended June 80, 1919, the
Alaska Gold Mines Company reports a
deficit of S56,483, compared with de-
ticit Of SlO6,784 for the March, 1919,
quarter and deficit of $l4,428 for
the second quarter of 1918.
Gross value of production amounted
to $354,7Ol, an increase of $6O,0lO over
the same period Of last year. Operat-
ing expenses were s409,961, leaving a
net loss from operation of $5 ,26O, an
increase Of S46,677. Other losses ag-
gregated $l,223, making total deficit
for the period OF S56,4S3.
New-York tribune., 1919-08-12
The Dollar in Foreign Exchange

day than last week, and rates on Lon
don were steady. Belgian francs and
the lire followed the movement of
rates on Paris. Announcement was
made by the British Treasury repre-
sentative here of plans to make the
monetary value of the rupee outdis-
tancc the value of the silver out Of
which it is coined.
Quoted dollars to the pound)
New-York tribune., 1919-08-12
J. e. Penney Sales

Sales Of the j. c. Penney Company
for the first six months of 1919
smounsed AZ o1l t to 81 ,So6,l44, compared with
$o,Oe' ,34l for the correspond;nr halt
OF 1918, an increase Of sS'o18s0o
Gross business for 1919 is estimated a.
mo more than S2S,0O00oo. against sales Of
New-York tribune., 1919-08-12
The Royal Dutch Shell Group

A Wall Street estimate, based on the
open market quotations for the stock
puts the valuation Of the Royal Dutch
She'll oil combination at $1,150,0O0,0OO
Royal Dutch common stock outstand-
ing has par value on dollar basis
Of S85,957 500. This is selling at 760
per cent, making its market value ap-
proximately $650,0oO,oO0. The 3,221,-
97S par value of She'll Transport and
Trading common stock outstanding has
a market valuation of about $3.50 O00,-
600. Total cash resources Of the COM
bnation, according to the latest fig
ures available, aggregate S1O5, 100000
Most of the business is conducted
through the Bataafsche Petroleum
Company, a Dutch concern, which is
the producing end, and the Anglo
Saxon Company, British organization,
which transports and distributes the
products. Royal Dutch owns so per
cent OF the capital of these two com
panies and Shell Transport and Trad
ing 40 per cent.
New-York tribune., 1919-08-12
Breadth of the Market
L. S. Steel's Operations

Latest available figures indicate that
the United States Steel Corporation
produced in July approximately 1,000,
900 tons of finished products on an
operating basis of rs per cent of ca
pacity. New business booked is esti-
mated to have run at an annual rate
Of close to 21,O00,000 tons.
New-York tribune., 1919-08-12
EMPLOYEES to Benefit

An opportunity is TO be given the
employees of the Standard Oil Company
of New Jersey to buy stock in the
company. The plan under considera-
ton applies only to the new per cen.
preferred stock, of which $1O0, ,0O0.0 900
is TO be issued, although it is under
stood that in time the employees may
De given chance to buy the common
also. The price of the new preferred
20 the employees will probably be
around 102, it is stated. This stock is
selling in the market on a "when, if
and as issued" basis at Ill.
New-York tribune., 1919-08-12
DENY Credit Report

report that the United States Steel
Corporation is planning TO sell prod
ucts to its old established customers
in England and on the continent on
an eighteen months credit basis was
denied yesterday at the offices Of the
United States Steel Products Company.
New-York tribune., 1919-08-12

$1O OOO 600
AMERICAN COTTON OIL COMPANY
FIVE YEAR SIX PER CENT. GOLD NOTES
dSep.s, 1873 2tsz
payable IN NJ
81 fo in + oeeh
ycaNot
o1d Issn.
uo O. issue eprovdeth
mo ecreted pLucdup Mepu
dot
o.
u&yuethe
outstanding
The
in estate ,buadin
The
Of
proceeds h" uu t
Sep" 1 1919 and
me undersigned wN eceie subscriptions allotment
dt99I4 and interest," yielding 6J8t.
FIRST NATIONAL BANK or NEW YORK
New-York tribune., 1919-08-12
Money and Credit

Stock Exchange money was in plcnti-
full supply yesterday at and 6ls per
cent. In the afternoon. after the de-
nand had been largely satisfied, indus.
New-York tribune., 1919-08-12

ta.son Son & Co. Offering 81 coo ooo
Class A stock OF the Ajax Oh COMPANY
at SO share
". u. Clarke. manager 0. the bond de-
2artment OF II. NJ. Byiesby & Co., has been
elected vice president OF the buying de-
partrent in New York with special refer
ence 10 syndicate partic!pations Chester
c. Lewis was elected manager OF the New
York orice.
Finance and Trading Corporation has
opened a Chicago ONCE under the SUPER
vision OF Edward S. Moore.
Frederick II. Payne h.st vice president
OF Greenfield Tap and Die Corporation. has
been admitted as a. general partner in the
United Retail Stores Corporation r.shts
have been admitted 10 dealings on the New
York Stock Exchange.
J. u. Davis, formerly vice president Of
the Baltimore a. Ohio system, and now
manager Of the company's New York
properties, has resigned as Of September
!. TO become vice president Of the Rock
Hill Iron and Coal Company
The Guaranty Trust Company OF New
York has been appointed registrar Of the
preferred and commo nstock OF the As
tor!a Mahogany Company. Inc and the
National Park Bank was appointed trans
fer agent.
New-York tribune., 1919-08-12
Empire Gas and Fuel Company

Bond Secured Sinking Convertible go Notes o 1oo
Ahese Notes may be Immediately converted par for
par into the &c Cumulative Preferred Stock of Ernnre
Gas and Fuel Company conversion privilege
possesses the following Of to investors
the
vidend
company discovered and
dContnen - F ~ wv Hc most
p'ONAO' 81
company oil PRODUCING
' F'0N0~''s transporting
rioPelees constitute substantially
~'cs oe1ce company
A"o'Nd'eo value
constru
nnt of Preerre
''~"0 usually ~ ~ ~0'''a
H. Initial OF S150o0ooo purchased bu
caSh
PRlCE97Ia
D""zpnSc circular o6nuucdto dealers
Henry L. Dolaerty & Company
w ''a" oieee Manager
New-York tribune., 1919-08-12
Export Managers Meet To-day

The Export Managers Club will hold
q MONDAY meeting to, day at the Bush
Terminal Sales Building
New-York tribune., 1919-08-12
Dividends
Extra

standard Oil Of Kansas-Extra dividend
ot % per share. In addition to reyuIa- =
po.s,s,riy dividend Of So per share. both
pas AoIe September Is stockhoIder, ~
Regular Declarations
New-York tribune., 1919-08-12
A Quieter Market

1t was plain from the action Of yes
terday's stock market that the financial
community is still in state of mental
confusion arising out Of the rapid de-
velopments of the past week with re-
gard to labor difficulties and the other
collateral factors. Stocks advanced,
sdeclined and partially recovered, clos
ing with an irregular price range.
Dealings fell off sharply, the total
transactions falling short Of the mill
ION share market. 1t was such a mar
ket as might be expected as a result
of the unsettlcmcnt produced by the
recent developments. Some traders
we're inclined to sell stocks for the de-
cline again. Others, taking a more
hopeful view of the outlook, added
to their holdings. The public was
not in the market to any important
extent, so that the bulk of the trans
actions was professional. An out and
out professional trading market will
probably be in order for some time to
come, at least until the market fol-
lowing can get it's bearings again and
enter upon a. new speculative cycle.
Breadth of the Market
The trading list comprised 26s diff
fcrent stocks compared with 305 last
Friday. This was the smallest num-
Der of stocks traded in since June
New-York tribune., 1919-08-12
The Western Land Boom

Speculation in many parts Of the
West has run largely to real estate
and in some of the agricultural states
full fedged land booms have devel-
oped. The Northwestern National Bank
Review of Minneapolis says that lands
have increased since last winter from
SO to s75 an acre in extreme south
sofa, $50 to S25 in extreme south
Eastern South Dakota, from 10 to Is
500 III Iowa. about so per cent in
Eastern Soputh Dakota, from 10 to rs
per cent in Missouri, and all the way
from % to 100 per cent in Eastern
Nebraska. "While the boom originated
through the desire Of numerous farm
ers to increase their holdings" it says,
"prices have been made largely by
spectators. who have bought on small
interest payments and agreed to final
settlements March l. In many in
stances ownership of land has changed
hands several times in this way, and
it is question if all can meet their
March l obligations" An Iowa banker
is quoted as stating that March set
Elements will be very heavy, and it is
a serious question how they can be
financed.
New-York tribune., 1919-08-12

Bank Clearings.-Bank clearings yes
terday were:
Exchanges. Balances.
New York $499, 9,o63,ss5 1885,, ,o86
Philadelphia. 62,782,353 12,71O,8e1
Sub-Treasury. The Sub Treasury
gained $3S6,0o0 from the banks on
Saturday.
Silver.-London, 5Sad New York,
S112ss; Mexican dollars, S6ts M9o5sc.
London Money Market.-LoNDoN,
ratcs-Short bills, 7-16@31s per cent;
three months bills, 9-16@39s per
cent. Gold premiums at Lisbon, 11o.6O.
New-York tribune., 1919-08-12
rial loans went to Z per cent.

trial loans went to per cent.
Practically nothing is being done in
the time money market. A few re-
newals Of four months. loans were re-
ported yesterday at per cent.
The ruling rates for money yesterday
compared With a year ago. were Al
follows:
Yesterday. Year age
Per cent. PEI cent
Call money:
New-York tribune., 1919-08-12
Financial Items

ta.son, Son & Co. are offering 81 900. oco
Class stock OF the Ajax OIL Company
at SO share.
New-York tribune., 1919-08-12
The Canadian Exchange Situation

The shortage of New York funds at
Montreal continues to hold the Cana
dian dollar at a discount of close to 5
per cent. "The rehabilitation of the
Canadian dollar is not impossible" de-
clares the Monetary Times" of To-
ronto, in discussion Of the adverse
exchange situation. "It might be done
by the sale of Canadian securities in
the United States. The difficulty would
then be postponed, to return in aggra-
waited form in proportion as the inter
est payments on our borrowings would
be added to our obligations already
outstanding. The level of the eX-
changes is the reflection of a trade
and financial relation and reacts to
adjust this relation. The premium on
New York exchange retards purchases
there, and the discount of the Cana
dian dollar encourages the purchase
of our products by Americans" Cana
dian bankers see little prospect of any
improvement in the exchange position
until a balance is struck between
Canadian imports and exports. The
situation may be helped somewhat,
however, when Britain settles her war
account with the Dominion.
New-York tribune., 1919-08-12

Finance and Trading Corporation has
opened a Chicago ONCE under the SUPER
vision OF Edward S. Moore
New-York tribune., 1919-08-12

United Retail Stores Corporation rights
nave been admitted 10 dealings on the New
York Stock Exchange
The Washington herald., 1919-02-06
PHILADELPHIA PRODUCE.

Philadelphia. Feb. 5.-Prices on the local pro
duce mari et today ranged az follows:
BUTTER-Solid- packed creamery. extra sc
higher scoring goods, I94jlc, the latter for JOB
bing sAles: extra hrsts &c; hrsts Ga sGc; sec.
ouds. 4oat2c: sweet creamery. choice and fancy,
jol52c: fair TO good 43ai9C; Iafle-pscked. a. 10
quality, 3jaLC: packing stock 32zGc: fancy
brands Gf nearby prints jobbing at 52A5ic; fair
u good, 45a5lc
EGGS-Nearby frsts. 1870 per crate; neaTbS
current pc-ips, ESQ; Western extra frsts
l2. q PER crate: do frsts, LIE pr crate: in.
fcricr lots lower: southern. ll70al2.O0 peT crate
fancy selected. carefully csndlod eggs were job
bins at faAec per dOzen.
LIVE POULTRY-FOSlF. according to DUAL
ity, 5is36C; exceptional lOts higher; bruiiins
chickens fancy, soft-mestel. weighing liss2 Ib'
NJ iers 4osi2c: spring chickens. soft-meSted. lsrs
tr si0e'. 4aSSci SsggT young roosters Es2Sc; cd
/ = 1stes a DC; ducks, PCkin s0z42c; do Indian
Runner, Sa3sc; seese. 30a32c; g,Iiness Young
il.f pair, weighing ll.a2 To-. apiece lOal5
smaller sizes 6calo0; do. Old. Ter pair. e1ca
Ia; rigeons. old per TaiE. S.ai5c; DO. Young
pe7 pair. SaiOc.
pOTATOES-whnc Eastern Shore, per bill
No. ]. 2Oa27J; "" .. 2OOa2 50: Jersey. pet
=. bus has. No. !. ossCc; No. >. SOs6Oc; Penn
syHanis. No. J. UT 100 lbs IsOa2 %; Western
TT 10 lbs. L8a2.O]; New York. per 100 Ibs
lfolS5; sweet pOtstoe>. jersey. per has No
]. I50sl.75: No. >. lO0al25; Eastern Shpre. pei
Lbl No. l. ) OOa6.C0 No. =. . r1a3 50. Delaware
and MARIan.- per bus hampers la y No
= L5CaI.tc.
The Washington herald., 1919-02-06
SHELTERS LOSS
HITS STOCK LIST
Heavy Selling Movement
Freely Predicted on New
York Exchange.
By RRoApAN WALL.

New York. Feb. 5.-Reduction OF
the dividend on American Smeltcrs
from 6 20 per cent was an un-
pleasant shock TO Wall street today
for the street had been given to
understand there would be no re-
duction. The loss OF 61s points in
Smelters stock that resulted is ex-
pected to be followed by a free
selling of other Guggenheim stocks
as soon as the news gets thoroughly
distributed publicly. This incident
dominated the market in the closing
hour and all stocks were heavy.
Early in the day Tobaccos, General
Motors and some specialties were
Brown Shoes, Continental lnsur-
ance, United Drug. I'd preferred.
Philadelphia Company and Liggett
and Meyers.
New high records for the year
were made by General Mosors at
1924 and Tobacco Products at 1913.
Both of these are the result of in
vestment buying based on improv-
ing business conditions in those
particular companies. All the motor
stocks are being manipulated at
present and as a general PROPOSE
ton 1t does not pay to buy these
issues while the automobile show is
in progress. This year, however,
the situation is a new one with the
automobile industry looking for
ward to an expansion never before
deemed possible.
Announcement of organization oil
the American Grain Products Com
pany to buy the real estate and
other physical assets of the Ameri-
can Malt Company was followed by
an advance OF more than 2 points in
the preferred stock of the Malt COM
pany. II is understood that stock
holders Of Malt preferred will get O
cash dividend of $40 share while
the physical property left in the
hands of the American Grain Prod
ucts Company. whose number of
par shares will be given in exchange
for the Malt preferred, is officially
appraised at $50 a share. This gives
n total of s66 share for Malt pre-
ferTed with the prospect of good
earnings in addition.
Malt common now has absolutely
no value and those stockholders who
relied on the public statement oi
Director 4. L. COrtis have lost every
dollar unless they accept the $1.5(
q share at which that worthless
stock sold today on the Exchange
The Washington herald., 1919-02-06
WASHINGTON PRODUCE.

EGGs- strictly fresh. select, q; current re
ceirts Vs.
CHEESE-New York State factory, new, 5a3S.
BpTfER-Elsin print. s. Elgin tub 81.
LIVE POULTRY : Roosters. psr lb.! ga 5;
TURKEYS. per ID. Ssso; hens. per 10. s2s5I;
ehickeus. 5s:d gnineas, 75c each
DRESSED NORTHWESTERN fresh, ~ N
broilers. s.; 2H-lb friers. Is; ) TO sib bzkins
chickens. i0sis; turkeys. per III. sssSo; roosters.
per 10. 3s5S; hens per 10. sac; czpon1, i6s5o
GREEN FRUIT-Apples. per bbl. stsslo
box. 3a3A; California lemons. 4s4h; CalifornIs
oranges 5se: Florida oranges. ffs5H; cIsb'
berries. IsS9 per Dbl; grapefruit. 3btsS1a.
NEGETABLEs-rotsbe es. No. !. 2.Soa3.7s t~r
sack; beans per bss. Jas Peppers crate. 5lsae
csgplsnts. 34s5 crate; cabbage. old. 100 lb-. 2oo
csbjage. nes LIS bss; beets crate, H.ai: let
tuce .issii4 has; peas. 1alo has; sweet potatoes
5ss per Dbl; California celery. crate. I2sH
FLORIDA. SAC; ce'ery. l-5oIo.9o. Dunch: squash.
per bbl.. l.J0s2.C.: sf1nsch. sx4 per bbl; ksle
2Isas34 per bbl. turnipi. l.C0aLSo per bbl KTori
da tomatoes 4aTH crate
DRESSED PoRk-Ligbt. 2s2l: medium, %
heavy, Isale.
LIVE SToCk-sheep. per H.. Gas; calves
lTsls: medium. Halls; lambs. iaI5
ton No. timothy, 2s.2sBs ton; mixed hay
zs5ss sLs a ton; mixed oats. esae7 white oats
GsSsa
sEEDs-Clorer. zs2j per busheI; timo.
thy, SIS per bushel; red top srss.. IesI7c pei
pound: blue grass. 350a37S per bushel; oTehs rc
yIzss s.15si.0 per busheL
The Washington herald., 1919-02-06
Would Buy Army Planes
for U. S. Trade Purposes

- Allan r. Hawley. president Of tho
Aero Club OF America yesterday
recommended the formation OF =
government corporation to be- cap
itaIized at S50,OOO.OOO 20 taxi over
$500. 600, 900 worth or aiEDlanes
motors and aeronsutic equipment
which the army and navy cannot
use.
HaWlcy want9 this preparation &,
be used in establishing aerial trans
portation lines in the United States
and to South and Central America