davidaulloa/AmericanStories huggingface dataset:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-08-31
The Week at Home

President Wilson refused the de-
mands of the railroad shopmen
for an increase in pay of from Is
to q cents an hour and gave them
instead an increase of 4 cents.
The President said increases in
wages could only have the effect
of increasing the cost of living
and would crush the governments
campaign to reduce the cost of
ing. He warned railroad labor
in general that halt must be
called on wage increases and ap-
pealed to the public to recognize
the gravity of the situation the
country faces. Only by keeping
the cost of production on it's pres
ent level, increasing production
and by rigid economy and saving
can the country successfully pass
through the crisis, he declared.
The railroad shopmen were greatly
disappointed by the Presidents
decision against the wage increase
for which they had asked, and their
leaders ordered a general vote as
to whether they vkhed to strike
or to accept the cents an hour
raise. The opinion of the leaders
is that the men will vote to strike.
The Pacific Coast is already tied
up by independent strikes of
switchmen, brakemen, yardmen
and shopmen.
Warren S. Stone, president of the
Brotherhood of Locomotive En-
EineerSs Endorsed President Will
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-08-31
Grateful

The Presidents course is, in like
manner, defended by The New
York Sun" when it says:
They (the people, have suffered
from the rise in wages that the
previous compliance Of the Admins
tration allowed to Get is present
Roadway. They feel grateful for any
move to check the stampede, no mat
ter how beated that move -,
be. The Administration hac
stopped to conquer. But the rail
road workers have kept the lead ever
since in the upward procession OF
wages and prices that increasingly OPP
press the public"
The influence Of such leadership
as that of Samuel Gompers should
count heavily in the present s@r.-
Gus situation, suggests The New
York Evening Mails which de-
clares:
This is time OF grave decision.
whether it Will follow the false gods
OF social, political and economic dis
order or adhere to the sound policies
that have made America great and
powerful
I'VE have no doubt OF the course
Mr.. Gompers would elect to follow. "
The New York Globe" has no
praise for the Wilson lecture, de-
claring that the President spoke
nothing but "generalizations upon
the report submitted by Director
General Hines and upon admissions
made by the railroad workers
themselves" and citing Acting
President Jewell of the shop
mems organization as saying: we
realize that in the strife for wage
increases we cannot win any per
manent victory. It is not the money
| but value which counts. The viciou:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-08-31
The Pied Piper Of the United State.
From The Providence Journal


on what is considered one of the
most important of the treaty pro-
visions-that on reparations-was
offered or otherwise brought up in
committee. The Preparations COM
mission will be the most powerful
international body in the world.
Senator Fall later urged, in addi-
ton to the fifty amendments, that
all labor provisions Of the treaty
be stricken out.
The treaty, as amended in COM
nlittee goes to the Senate for GER
tain further debate and consequent
ratification or rejection.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-08-31
DHE situation concerning the
threatened strike of railway
shopmen and the question of

n shopmen and the question of
government ownership as
provided for under the Plumb plan
have assumed increased interest
within the last week by reason Of
1.-The Presidents announcement
that the demands of the shop
men could not and should not be
granted at this time because Of the
fight no,o being aoaged by the gov-
eminent to ioWer iiuing costs
0-The shopmen's rejection Of the
Presidents conciliatory a1vard
Of 4-cent q day increase, and
authorize ton by their committee of
one hundred for another strike uote
Immediately.
2-The return OF President Gompers
Of the American Federation Of
Labor iron, abroad, his reported
stand IN behalf of the Plumb Plan,
and subsequent denial Of hauing as
yet taken any public position in
approval or disapprounl of the plan
1-The announcement from Cleue-
land by Warren S. Stone, presi-
dent of the Brotherhood Of Locomo-
tire Engineers, that "the solution
Of the acage problem, not only on
railroads but in other lines OF bust
ness, lies IN reduction Of the 1ir-
ing costs, not IN Increased 1cdges."
This stand Of the brotherhood chief
being interpreted as indorsing the
Presidents course aoith regard to the
shopmen's and other rail auorkers'
demunds.)
5-The meeting IN Washington of
the executive council of the
American Federation of Labor
6-Tke strike Of shopmen and other
railway employees ~ California
IN defiance of uniou orders.
Meanwhile 100000 shopmen in
volved in the issue are voting on the
proposition to accept or reject the
Presidents Accent award in lieu of
their demand for increases ranging
from II to 27 cents an hour. Ballot
ing thus far, as in the previous vote,
indicates a majority of sentiment in
favor of a strike. Six shop unions
are involved directly in this country
and Canada; the other railway en-
ployes, numbering a million and
half or more, are less directly in
volved, but, as Director General
Illness effort to make all adjust
ments impartial is regarded as in
Guiding all railway brotherhoods,
action by the great body of workers
would be contingent upon that Of
the shopmen. Results in full Of the
strike vote now being taken are eX-
pected to be known by September 2,
the rail labor chiefs say.
The attitude Of the press gener-
ally toward the threatened walkout
of the railway men and the Plumb
plan has not wavered since both
problems arose. Only the radical
newspapers seek to defend the shop
men and Plumb plan of ownership.
The great majority of the news
papers are decidedly against any
such minority" and "socialistic"
action or legislation.
The following comment is con-
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-08-31

Shopmen. his paper says OF the out
lawed strike of shopmen in Cali
fornia;
"A considerable body of opinion
holds in southern California; that
the strike has been started to deter
mine if the brotherhoods will be able
to control The railroads in case the
Plumb plan cannot be forced through
Congress. On that supposition, the
strike Is demonstration of direct
action. Tia interstate rail
ways must be run The government
should see that they are run."
Sociaiis: Iiec
But The New York Call" So
cialist organ, has a different view
Of the Presidents course. Says
this paper:
MIR Wilson receives $4,000 a year.
nearly $500 week We presume that
he does not have to dodge the butcher
or the grocer on this income and is
able to maintain his outlook on life
with some degree Of satisfaction. How
easy it 5 for one so situated TO be-
come enthusiastic for self-sacrifice and
patience ~ the thousands of railway
shopmen,"
That the Presidents position is
based on sound economic principles
is the assertion OF The Philadel-
phia Inquirer" which paper says:
"President Wilson has set the stu
alton before the public in d way that
must command immediate attention Of
the wage-workers of the country as
we'll as Of the public There is
better outlook for capital and labor
through following economic laws"
Commenting on the attitude of
the railway men, The Spokane
+ Spokesna Review" Saws:
The time has passed for further
yielding 10 the demands Of the railway
workers O.. grounds OF mere expediency
of keepins them at work By the easy
but costly elpedient Of granting any
demands taey nay put forward
"lhe Providence Journal be-
lieves the nation will stand whole
heartedly back Of the President in
MS wise and vigorous declaration"
Interruptions of service GER
tainly should rot be tolerated" de-
clares The Chicago News" add
ing that the public suffers from
every industrial dispute that para
Yves an agency charged with the
task Of supplying d public service"
The Butte Mont Bulletin"
radical labor organ, referring to
individual strikes of shopmen
throughout the country. and par
ticularly in California, says:
The strike OF the railway shop
declarations and the continuance of
that strike in spite of the opposition Of
President Wilson and the officers OF
the international unions is by far the
most significant event that has oc-
Cured IN labor circles in decade.
The Growing Indictment against
it is that it places tiae power where
it belongs--in the hands of the mass
where it rightfully belongs. 49,
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-08-31
Yes, Even to the Coal

Now Congress would only amend the law supply
demand that would have supply demand
solution of troubles would be simpe-E1 Times
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-08-31
Who's Guilty?

One for high exorbant
profits the period want continue
which they while others were 6ghtngSt
Louis Post-Democrat.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-08-31
From a Fan

wv HAT need the great national game of making
wv both ends meet is hits and srkes-Rockv
Mountain NeMs.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-08-31
We'd All Go Back TO School

Columbia University announces income 1t
ought to be if it will tell how money
to them-ProUdence Journal.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-08-31
Quit Yer Kiddin'!

1t be hoped that the chorus girls
York taking advantage their
minds-Boston Globe.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-08-31

DOPTION by the Senate
Foreign Relations Commit
: tee of fifty amendments to
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-08-31
The Specialist Speaks

There isn't darned thing the matter with this
except nerves.-El Poso Times
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-08-31
No Time This Session

In the fall of the year the thoughts of the head of the
turn to the winters coal bill-Atlauto Journal
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-08-31
Big Business Thinks It's Too Rich for Him

Prom The Fargo Cou'jer-Ne1cs
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-08-31


solution of our troubles would be simpe-E1 Paso Times.
We'd All Go Back to School
Columbia University taxes It
ought be the money
pay then-Pyoudeuce
Quit Yer kddin'!
be hoped girls on strike over in New
York taking advantage their improve their
minds-Boston Globe.
The Specialist Speaks
There isn't darned thing the with this country
except nerves.-El Poso Times.
Plums
The country has had several the
ming the and if the plums going
thoroughly satisfactory every deserving
Republican,
No Time This Session
In the fall of the the thoughts Of the head of the family
turn to the winters coal bil-AtIanto Journal
Willingly
AS understand it, if the Mexican bandits
ward and be hanged will pay ransom
money.-Kdnsds Ciy Times.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-08-31
Plllns

The country has had several of the plum plan
the and if the going
thoroughly satisfactory every deserving
New-York tribune., 1919-10-12
London Money Market

LONDON. Oct. 1l.-Money, 2M per
cent Discount ratcs--short bills. AK
per cent; three months bills, Az pcr
cent. Gold premiums at Lisbon, l43 90
New-York tribune., 1919-10-12
Money and Credit

Loans and discounts Of the New
York Clearing House banks increased
again last week, the statement issued
at the close of business yesterday dis
closing an expansion Of 41,186,000 to
$5,433 900.
Net demand deposits decreased $751;
$4,000 to s4,193, $4,000. Surplus re-
serves decreased $2,450,590 to $37 $685.
150.
United States government deposits
with the banks aggregated $362,OS9,o0o
at the end of the week, compared with
S373,347, 900 the week before.
The changes in the statement were
the smallest in three weeks, indicating
that the large shifting Of funds Incl
dental to the end Of the September
quarter settlement was about over.
The Federal Reserve Bank Of New
York reported another increase in dis
counts secured by government war OBJ
legations, the total at the close of
business Friday amounting to $697,-
763,11O, against $674,010,1S1 at the end
of the week before.
Total gold reserves Of the bank
dropped from $3.50, 3,955,295 to s55e,746,-
549 as the result of the transfers to
interior reserve institutions.
Bank Clearings-New York: Ex-
changes, 1891, ,742,8l3; balances, $685.
397.173.
Sub-Treasury-United States Sub
Treasury debit balance, S390,046; Fed
eral Reserve credit balance, $43,337 ,341
Silver-London, 62B d.; New York,
$1.17B; Mexican dollars, 91es @95 &c.
New-York tribune., 1919-10-12
Woollens Demand Subsidies
Mems Clothing Manufacturers
Buying Less Eagerly

The anxiety Of mems clothing manu-
1facturers to obtain high grade wool
lens and worsteds for spring use has
eoated, according to number of lead
ing mill agents. Buyers who formerly
ordered every number in the limited
sample lines shown by agents, now pick
and choose. Orders are small and the
Wholesale clothers appear to have
adopted a. policy Of extreme conserva-
tism IN ordering new fabrics.
The shortage Of labor in the cloth
ing fabrics, which was marked in New
York all season, has developed in
other clothing centres, noticeably Bal
timore and Chicago, and manufacturers
from those centres now in the cloth
market say that they are hesitating to
acquire heavy stocks Of goods with the
possibility Of having insufficient labor
70 convert them into clothing, facing
them.
With clothing retailers asserting
that the public is averse to paying
present prices for fall and winter
clothing, and all signs pointing to
higher prices for spring, some manu-
facturers are preparing to arbitrarily
cut down spring production to fit Tho
expected curtailed demand. This is
having reflex action on the goods
markets.
New-York tribune., 1919-10-12
impending Holiday
Fails Hinder an
Advance i'm Stocks
Price Level Again Rises,
With Oil and Motor
Shares Leading, Despite
Profit-Taking Sales

Yesterdays stock market ran counter
to Wall Street expectations. Instead of
a quiet trading affair such as most OBJ
servers thought would precede the
double holiday, the Exchange being
closed on Monday in observance of
Columbus Day, the market continued
broad and active, with the price trend
still strongly upward.
Buying Of the industrial shares,
notably the motor issues and the oils,
which pushed the whole level Of the
market sharply ahead on Friday,
showed no signs of slackening. Profit
taking sales appeared in heavy volume
from time to time during the two
hours of trading, but were we'll alb
sorbed without seriously affecting the
forward price swing.
For a Saturday session the market
was the most interesting in months.
The opening was strong, and after the
initial display of strength professional
shorts grew nervous and proceeded to
cover a portion of their mitments.
The fact that the market will be closed
until Tuesday also served to induce
covering; it also brought in good
deal of proft-taking by operators who
bought stocks at considerbly lower
and who did not want to take the
chance Of carrying their holdings over
until next week. The cross currents
of buying and selling that resulted
gave the market at times an appear
ance of irregularity, but the tone held
strong right up to the close.
In the motor group where the ad-
vance was most pronounced several
new high records were made, Pierce
Arrow going to II and closing 6 points
up at Is, Studebaker rising to 134, up
5%; General Motors to 303, Stutz to
143. and Chandler Motor to 867. The
latter closed at 3611z, up 2615. In the
oil group Mexican Petroleum continued
It's flight with an advance Of Az points
to new high Of 252&.
While the more seasoned industrials
did not indulge in any spectacular
movements the tone here was generally
firm despite heavy realizing. Steel
common closed practically unchanged
at 111ss, after selling to 112A, and Re-
public Steel gained more than point.
Shipping shares were not affected by the
strike of the ongshoremen, which has
tied up the port.
In all 255 different stocks were bought
and sold yesterday, compared with 304
on Friday. Dealings exceeded 100000
shares.
New-York tribune., 1919-10-12
Loew Gets S5,OO0,OOG
Morgan Partner Said To Be
Interested in Euiernrisc

additional working capital of SIS ,ooo,-
900 has been supplied Loew's thea
tre enterprises by an important Wall
Street financial group, in which it is
said that Il partner Of J. p. Morgan &
Co. IS interested. A new company has
been organized, which will issue 700.-
900 shares Of no par value stock, a
creator part of which, 1t is stated, will
be retained by the present manage
ment in an exchange for their holdings
of the old company
The additional working capital. it
was announced, will be used to carry
"r' programme oF extensions which
will give the company control of 100
theatres throughout the country. Sixty
are already owned outright or are un-
Ger lease, eleven are under construc-
tion and twcnty-nine are under con-
tract. The new board of directors will
include tho names Of important Wall
Street bankers.
The stock of the new company WAS
traded in for the first time on the curb
market yesterday. On transactions Of
approximately 10000 shares it opened
at ~, advanced later to 34A and closed
at BAN.
New-York tribune., 1919-10-12
Bonds
Sales 1000 omitted .
Bid and Asked
BID Aske;

BID Asked Bid. Asked.
Alas Gld NJ %. y krcss pr LOO Ic4
A. as Juneau. 2ls Laclede Gas IS %
Bx Note pr 47i2 49la Lake F. & W II y
A Beet : pr. 30 ~ do pr ..... ~ .!
Is Fdry.. 95 II. & NJ pr. III llln
DO pr 40 rs lL-W lat pr 100 lo3
Am Can pr l05fs lOiizi do 20 pr. III III
{ 4 W.ll6 ll6iSi iLorillari pr...iI0% ia
New-York tribune., 1919-10-12
The Dollar in Foreign Exchange

The dollar rose to a higher premium
in European exchange during the last
week, and as a result the condition of
the foreigner desiring to purchase
commodities in this country became
still more onerous. No substantial
relief is in sight, although Belgian
francs may be helped slightly by the
impending $50,00O,000 Belgian govern
ment dollar credit.
On the contrary, dealers are pre-
dieting that the European exchanges
will be further discounted. One of
the largest factors in the market ex~
pressed the opinion that the flood Of
sterling bills against the shipment of
cotton to Great Britain will break the
pound again. He foresaw $4.10 sterl-
ing in the near future and 81 sterling
before the exchanges are stabilized.
Many of the banks and commercial
men have covered the bulk of their
commitments for the rest Of 1919, it
buying against 1920 needs. Some
purchasers of exchange, however, are
holding OFF for lower prices.
The throttling effect Of unstable ex-
change rates will be stressed at the
international Trade Conference at At
lantic City late this month, and the
ideas of Americans, Frenchmen, Brit
ishers, Italians and Belgians will be
pooled. Exporters are in the hope that
workable plan will be developed at
the conference.
Because Of the barriers placed on
commerce by exchange difficulties
Europeans are compelled to readjust
| their plans for reconstruction. France
for example, finds it necessary to defer
rebuilding the desolated districts until
exchange becomes stabilized or until
her own mills are able to furnish the
requisite steel.
II you calculate the cost of the dol.
lar in terms Of foreign money at cur
rent exchange value; that is. if you
~erc buying dollars with pounds, marks
or francs, its value at the close of last
/ follow:
New-York tribune., 1919-10-12
In Wall Street

ssWhat Do You Think of the Markct?"
The president Of leading national
bank: "The market acts as if it were
in strong hands and it has every appear
ance Of going higher. This is all the
more remarkable in view of the pres
ent tightness of call,money rates."
Belgian Steel Makers Want Loan
To overcome the obstacles incident
to deprecated exchange, a group of
important Belgian steel works, which
are in need of huge quantities of semi
finished steel products, is considering
the formation of holding company
which would be able to negotiate a
large bonded loan with its own ore and
coal mines as collateral. The proceeds
of this loan then would be employed
for buying materials and supplies for
the mills in whatever country the loan
was f1oated. Steel men here, who have
been informed of the proposed Belgian
move, believe that the United States
would be the only country able to fur
nish both the credit and the steel. It
Is not expected that any tangible de-
velopments in this direction will take
place until after negotiations for the
$50,000,000 Belgian government loan
are completed
New-York tribune., 1919-10-12
Big Demand for Diamonds
For Industrial PURPOSES

The demand for Industrial diamonds
Ia rapidly expanding throughout the
entirc world, according TO importers
who have just returned to this country
after visiting the foreign gem markets.
Buyers from England, France, Ger
many and many other large countries
are Waiting the markets and placing
enornonz orders for tho stones. In the
centre Of this demand are over 100
American buyers who are clamor!ng
for goods.
Many American engineering firms
haze withheld their orders for these
stones. partly on account of labor
troubles and other developments pro-
venting them from changing from war
80 peace work, and partly because they
rad hoped for fall in tho price OF
diamonds Such firms, In the opinion
II importers. have evidently overlooked
the fact that the nupply Of diamonds.
including those nsed In tho engineer
ing trade, is ,trictly limited, and with
he demand for all kinds of stones
steadily increasing, do not see how
tr'ees can be kept FROM going higher.
New-York tribune., 1919-10-12
Evans Protests Cummins Bill

Henry Evans, president of the Con-
tinental Insurance Company, has ad-
dressed letter to Chairman Cummins,
of the Senate Committee on Interstate
Commerce, protest. against the pro-
visions Of the Cummins Bill limiting
the profits Of individual roads. He
says in part: "Our companies own over
S1S,000,000 of railroad securities, of
which amount over s14,000,000 is in
vested in guaranteed and preferred
and common stocks Of the better roads,
such rs Atchison, Delaware, Lacka-
wanna Western, Southern Pacific,
Union Pacific, etc. ! notice in the leg.
islation which is now before Congress
through your committee that the plan is
to limit earnings which may be distrib-
uted to stockholders. I want to vigor-
ously protest against any such meas
ure, in that the inevitable result will
be to kill initiative and lead to waste
Stockholders are as much entitled to
fair dealing US the bondholdcrs, who
took no risks, and after Congress has
put on the books laws which will pro-
vide for reasonable basic rates it is
only just that the roads will be al
lowed to keep what they are able to
earn for themselves, derived from the
reasonable rates as provided by Con-
gress. 1t Is certain that if proper in
centive is given to the railroads to
earn all they can on fair rate the
railroads will again have the favor of
investors and the country prosper"
New-York tribune., 1919-10-12
Motors at New HiRhs

The motor group boiled again yes
terday, with new highs being made by
General Motors, Chandler, Stutz and
Pierce Arrow. In connection with a 6
point advance in the latter, it was re-
ported that the du Points have been
buying the stock. Studebaker, which
has been somewhat of laggard among
the motor group, was more active, and
advanced to 134A, with the closing
ever, is still more than SIS points under
it's high mark of 1875, reached in 1915.
General Motors is said to be going up
under the stimulus of recapitaliza-
tion programme which will give pres
ent common stockholders ten shares Of
new stock for each share now held