davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1919-05-01
brokerage Fees
Increased Heavily
By Stock Exchange
Commissions To Be From
20 to 60 Per Cent Higher
Under New Schedule:
All Stocks Are Affected

Increases in brokerage commissions
on the New York Stock Exchange.
ranging from 20 per cent for stocks
selllng up to S125 a share and so per
cent for those above that price, were
approved by the governing committee
yesterday. Members Of the exchanre
are expected to catify the higher
charges to the public within a week.
The new schedule, which was pre-
pared by special committee headed
by Bayard Dominick, shows that:
The commission per 100 shares for
stocks selling under $40 share Will
be raised from s6.25 to $3.50.
The commission per 100 shared for
stocks selling between $40 and sIc5
share will be raised from $3.50 to
SIS. ''''''0 ~
The commission per Zoe shares for
stocks selling above SIPS a share viii
be raised from S12.50 to $40.
Where transaction has been closed.
tnat is when the stock has been bought
ann "a SOLD, these rates are doubled.
=. Inc present commission to the pub
Tic on bonds remains at Is per cent.
the public, relate to business between
members Of the exchange when a prin
clpal is given up. These are 81 to
$l26 per 100 shares for stocks under
$lo share; So to $3.50 per 100 shares
dor stocks selling between $40 and
$d2o per 100 shares, and So to SO per
100 shares for stocks selling above
Sl2o share. When a principal is
not given up on business of this char
acter the charges are raised from 81 .56
TO Sl.'b per 100 shares for stocks sell
ing under $40 share; $3.12 to S3.75
per lou shares for stocks selling be-
tween $40 and $125 d share. and
S3.l2 to $5 for stocks selling above
Sl25 share. Proportionate advances
are made on bond transactions between
members of the exchange.
In explaining the action of the Stock
EXchange governing committee Mr..
Domnick stated that higher commission
charges were recommended because of
the greatly increased cost of conduct
ing brokerage business in the last
tour years. He cited 32 per cent in
crease IN wire rates and 80 Der cent
advance IN wages paid to clerks and
other office help.
He declared that the new schedule fol-
lowed the methods in force on the Eu-
ropean security markets, including
the London Stock Exchange and the
Paris and Amste rdam bourses.
Based on the total stock transac-
tions on the exchange yesterday, the
proposed increases in commi,ssion ion
charges would add SAT, 1876 to the reve-
nues Of the brokers for that dav. or at
the rate of more than $14,335,5OO a
year,
New-York tribune., 1919-05-01
Seeking Credits Here
Finland and Czecl1o-Slovakia
Want American Funds

Two European countries have been
added to the long list of nations that
are hopeful Of obtaining substantial
credits in the United States for the
purpose Of buying commodities here.
Czccho-Slovakia and Finland, it was
learned in the financial district yester-
day, have put out feelers in this re-
gard. Finland, it was stated, ID plan
ming to send special financial repre-
sentative to negotiaie with the Ameri-
can bankers.
Another European country which re-
Gently unsuccessfully sought financial
assistance here turned to London and
obtained $40,000,00O, according to q
private cable received by Wall Street
banker.
No less than ten European countries
have let it be known that they will
seek export credits in the United States
as soon as the peace treaties have been
signed and the road is clear for nego-
tiations to that end.
New-York tribune., 1919-05-01
Market Opinion
Bullish on Sugar Stocks

Lamborn & Co. say that the outlook
for sugar stocks is splendid Sugar
stocks and particularly sugar produc-
ers, in our opinion" they state, "are
legitimately entitled to sell much high
er, based on the present situation and
future prospects, world conditions war
rantng the highest degree of optimism
on the part of shareholders, who as
rule are more inclined to add to hold
ings than to sell. In our experience
of three decades in the sugar industry,
we have never witnessed brighter out
look based on the aftermath of the
most devastating war in history, which
with sharply curtailed production Of
foodstuffs finds millions eager to re-
turn to pre-war consumption"
New-York tribune., 1919-05-01
Quincy INNINGS Year

The Quincy Mining Company reports
gross receipts for the year ended De-
cember 81, last, of s4,s57os This
amount was realized from the produc-
ton of 19948,es5 pounds of copper.
After operating expenses, taxes, etc,
mining profits aggregated s1,129,e52.
Net income of s863,044 was equal to
S7.84 q share earned on the stock, COM
Jared with s23 share in 1917. Divi-
dends distributed to stockholders dur
ing the year totalled S935,000, leaving
s71,956 deficit.
New-York tribune., 1919-05-01
WeaIth-Markets Investments
No Wonder There Is an
Oil Boom !

WHEN the Standard Oil "octo-
pus" was dissolved in 1911 the
market value of the securities of
the various constituent companies
was approximately 100000, 900.
To-day, on the basis of current
market quotations, the same Sc
curities, plus the value of new Sc
curities issued by the companies,
is estimated at s2,50oo0o,ooo At
the time of dissolution the elder
John D. Rockefeller was credited
with holding 25 per cent of the
total stock of the various COM
p4nies, worth about 100000 900.
Had he retained this investment
his holdings would at the present
be worth 100000, an increase
of $525,000,0oO in eight years.
New-York tribune., 1919-05-01
U. 8. Leaf Tobacco Stocks

WASHINGTON, April so.--Leaf to-
bacco held by manufacturers and
dealers on April / last aggregated d
1927 7,2ss,s76 pounds, compared with
1,465, ,163,71l pounds on April ! year
ago, the Census Bureau announced to.
day. This years aggregate included
the following: Chewing, smoking, snuff
and export types ,1,255, ,8eo,264 pounds,
compared with 1,o7S,a05,8Sa pounds OF,
April I, 1918; cigar types, 8o3,6 .se9
pounds, compared with Sie,ee2,5os, and
imported E ss a.. tyygss s77ss,74s. compared
New-York tribune., 1919-05-01
Pierce-Arrow Profits Decline

Operating profits Of the pierce-Ar-
row Motor Company for the quarter
ended March 81, 1919, were s94e, ABB,
or s1,3So,l14 less than those for the
corresponding quarter of the year be-
fore. After depreciation, war tax and
interest, net profit was s567,SS4, equiv
alent after preferred dividends to $1.47
share on 25poo0 shares Of outstand-
Ing common stock of no par value.
This compares with net profits of
s1,231 1897, or $4.12 share for the first
quarter of 1918,
New-York tribune., 1919-05-01
The Technical Position

According to Clark, Childs G. Co. "the
there is reason to believe we are CON
fronting several years of exceptional
activity Of general business, the spec
ulative position has been too much
over-extended at the moment to be en-
tirely safe. 1t is the technical position
that most concerns us, but we may also
take the view that the markets rise
and activity in the recent past have
quite fully discounted what is likely
to develop in the way of news in the
days soon to come"
New-York tribune., 1919-05-01
American Writing Paper Sales
Increase Heavily i'm 1919

Annual report Of the American Writ
ing Paper Company for 1918 shows the
record gross sales Of 21,327,777, COM
pared with s15,o19,564 in the proceed
to s1s,135,25s, leaving net profits Of
S8,192,518. After all charges and war
taxes, balance of s1,252,6S9 was eoui-
valent to $1,000 a share on the s12.
100000 preferred stock. In 1917. a
surplus Of $15o,287 was equal to 81 40
share on the preferred.
In the report to stockholders George
a. Galliver, president, pointed out that
the company led the Industry in ad-
vancing prices. This, he explained.
was duo to increasing manufacturing
New-York tribune., 1919-05-01
Paris Market Quiet

PARIS, April 9O.-Trading was quiet
on the Bourse to-day. Three per cent
rentes, So francs so confines for cash
Exchange on London, 20 francs 43 cen
times. Five per cent loan, 80 francs
IS confines. The dollar ranged from
6 francs centimes to francs CEN
times
New-York tribune., 1919-05-01
Securities Listed

The following securities have been
admitted to dealings on the New York
Stock Exchanges: $4,000 additional
common stock Of Burns Bros; s7,126,-
700 par value of per cent cumulative
preferred stock and S1O,556,9OO par
value of common stock of the Owens
Bottle Machine Company.
New-York tribune., 1919-05-01

: The above rates express the cost Of
foreign money in terms Of the Ameri
can dollar. You buy an English pound
sterling, say, at s4.65. The intrinsic
parity Is S4>s64s per pound. Thus You
say either that pounds are at n dis
count or chat dollars are at a premium.
which Is owing to the fact that in Eng
Land the demand for dollars with which
to settle accounts in this country is
greater than the demand in this couu-
try for pounds with which to settle
accounts IN England.
New-York tribune., 1919-05-01
New Ticker Names

Reading Company shares, long alb
breviated on the Stock Exchange ticker
tape as RG, became R yesterday by
order Of the Exchange authorities.
Beginning to-day, tho. Amsterdam
Aoy nu1Sn n snaTSs mSs WIZ X. % sdpns pus On n the
New York shares will continue to be
abbreviated as in the past. RTNY.
New-York tribune., 1919-05-01
Urge Profit Taking

There has been such an enormous
amount Of stock purchased recently in
the general industrial list and prices
have had such an important advance"
5. B. Chaplin & Co. state, at would now
seem merely the part Of prudence to
secure some profits, pending more re-
assuring developments from the peace
conference"
New-York tribune., 1919-05-01
Outlook for Great Northern Ore

Shonnard, Mills & Co. say of Great
Northern Ore: "When the prospects
Of the steel market are considered
the outlook for the producers of iron
ore is exceedingly bright. Great
Northern Ore has everything to win
and apparently nothing to lose under
Its present operating plan, and we
would recommend it's purchase as a
speculative investment Of unusual
qualities"
New-York tribune., 1919-05-01
Rubber Strong In Weak Market

United States Rubber common was
conspicuously strong through all the
eelling yesterday. It's low prioe Of the
day was S7M and It advanced TO q
high Of ob. closing at 0sM. up sM
points. The company carnod so per
cent on tho stock laat year. The rising
strength OF the stock Ia based on tho
early resumption OF dividend payments
~ &ho. tUnAana ahn1sn
New-York tribune., 1919-05-01
Maturity.

The Federal Reserve Bank Of New
York has put in forcs tho following
schedule Of rediscount rates which
apply to sbankers aocept&ncesa Ma+uzA-
ties up to 15 dayus per cent: 10 to 90
days. inclusive ~ pcr cent: 81 to
90 days, inclusive. ~ Ger cent
! Bank Clcarfngs<--banle clearings yes
terday were:
Exchanges. Balances.
New York -. 500, ,732,95s $6o,2sS, ,43e
Chicago .~,-~. 02,33e,957 6.434, ,06s
Philadelphia. 64,eos,s34 12.e30,95a
b-Trcasury. - The Sub-Trcasury
lost $4,000 to the banks ON Tuesday.
Silver.--I1ondon, 4STd, UP nd; New
York, $1.01M, unchanged; Mexican
dollars, TIVE. unchanged
London Money ON,
April S0.--Closing-B silver, 4SNd
per ounce. Money, 3M per cent. Dis~
count rates--Short bills and three
months bills, SM per cent. Gold
premiums at Lisbon. 100.
The Dollar in + Foreign Exchange
The forsdxn exchsnss margsst was
quiet YESTERDAY. 8tAwilnx xatss yeys
l6AsaAxs EAals zxan0a Aaax4 a. 1s1skks
New-York tribune., 1919-05-01

ly. The neutral exchanges were prac-
tically unchanged
Closing rates yesterday, compared
with week ago, follow:
Quoted dollars to the pound)
New-York tribune., 1919-05-01
Relevant Comment
The Days Market

On the heaviest volume of trade since
the current movement began in Feb
ruary stock market prices developed
highly irregular tendencies yesterday.
Dealings approximated million and
threeq quarters shares. Prices were
irregular at the opening. About mid
day heavy selling movement started,
which caused recessions of / to 4 points
in the leading shares. In the after
noon a substantial recovery took place
and considerable portion of the previ-
Gus losses was recovered. The closing
range was uneven.
Weakness Of United States Steel com
mon was an unsettling influence on the
rest of the market Steel opened at SO 7s
TO 90, off Il to 21s points. On later sales
4 to DIX and closed at 971a,
oHA rs points. This decline In Steel
was the markets reaction to the omis-
sion Of the extra dividend on the stock.
Other steel shares were heavy as q
rule, although American Steel Foun-
dies proved an exception, and ad-
vanced 5M points.
In the specially list American
Sumatra gained 6 points, Manhattan
United States Rubber 61a, while Mon
tana Power lost IL, Burns Brothers
3s4 and International Paper /. Oil
shares were under pressure, with Mexi-
can Petroleum closing 1as points off,
Texas Company 2% and Tidewater Oil
5. Royal Dutch shares declined
sharply, but recovered most Of the
loss before the close.
Bond prices were steady, and the
Liberty Loan issues showed fractional
NET raing at the close
New-York tribune., 1919-05-01

The common stock of shirt COM
pany went up 80 points yesterday,
but what puzzles the man who buys
shirts nowadays is why the advance
was so moderate.
New-York tribune., 1919-05-01

The stock broker will not starve.
He will be able to buy himself a
sandwich Or two for lunch and keep
his clothes from falling into rags.
A great crisis has been avoided.
Commissions have been raised. For
four years, during long and hor-
New-York tribune., 1919-05-01

rible war, when the cost of his living
was rising, when clerks demanded
higher salaries, when brokers' pads
cost twice as much, he still chung to
the old rate bravely. In the last few
months, with shares being traded in
at rate of a million day, then a
million and a half, now million and
three-quarters, he has been able al
most to make up on quantity what
ne lost in margin of profit, and so
has lived along on day to day. But
shares selling between $40 and S125
each will now yield him commits
sion of SIS hundred, and that will
help bit.
New-York tribune., 1919-05-01
Finance Economies
Copyright. 1919. New York Tribune Inc

copyright. 1919. New York Tribune Inc)
Inc decline of 35s points in Steel
common, with corresponding de-
cllnes in other steel issues, showed
how great was the sentimental ef-
fect OF the omission of an extra divi-
dend. What was quite as remark
able, however, was that in spite Of
so much talk of the markets "dan-
gerous technical position" after the
rise Of recent weeks the dividend ac-
ton failed to prevent rises in the
specialties, such as gains of 5A
points in American Steel Foundries,
points in American Sumatra To-
bacco and 61a points in United
States Rubber. The oil stocks broke
sharply, doubtless for technical rea-
sons, but even these recovered most
OF their losses. There was no bad
European news. Transactions of
1,694,60O shares were the laregest
since the 1,775,0OO shares of. Nav 16
last year.
A declining tendency of Steel Cor
poration earnings during the first
three months of the year, together
with known conditions during the
month just ended, has led folk in
Wall Street to make the assertion
that earnings will be even lower dur
ing the current quarter than they
were in the last. Doubtless they
will, unless there is a revival unex-
pectedly rapid. But any further re-
duction in the dividend rate is ex-
tremely unlikely. If the directors
have no sentiment about the extra
dividend, they have about the regular
rate. There is little doubt that thew
would go into surplus to pay it. And
there is no doubt at all Of the Steel
Corporations surplus. The "book
value" Of the common stock is now
estimated in Wall Street at 1926 a
share.
The stock broker will not starve
New-York tribune., 1919-05-01
. Report q the Condition Of tho

PAUL TAusIG & son. Private Banker
at the close Of business on The 2Ist dsv ~
February. 1919. ' u
RESOURCES
Stock and bond Investments viz:
Public securities .............. s1a 600 90
Accounts receivable ............ o7s a.
Due from customers for exchange money
- orders and steamship tickets sold - s67 r..
Due from foreign banks and
paiherS .......-....-.....-.. $20T76
Due from trust companies banks
and bankers not Included In
preceding Items ............2 27o eo
neros,,s v,t, .~,,... - 2z7s.oe
rdpaal panles ........................ $4,000
foregn currency ..................... oss ~
0tber eesas 80 i.Sns c53.Ib
Furniture and fixtures . 10000
4o5 90
Ao'a '.''''.-'., ........ s20.5lI.0I
49,, LIABILITIES
t E rernanens capital ..-............... IS. .060 %
Deposits o'VVV'0V
Deposits subject TO check s74747a
Funds held awaiting tralsnis-
sion abroad . 6n7n
Due steamship companies for
Tickets sold .........~ 1549s7
Bills payable including indebtedness ,or "'Vo9'"A
money borrowed. represented by notes
certificates OF deposit or otherwise ss2 IN
io'al .''......-..-............ s2o.s1loI
New-York tribune., 1919-05-01
Nominal.

Below is given the current exchange
value Of foreign money in dollars and
cents. together with the intrinsic gold
parity. as calculated by the United
States Mint:
New-York tribune., 1919-05-01

If the addition were in the form of
government tax it might mean the
death of all speculation. But as a
brokers' commission, its effect on
activity will be purely academic.
New-York tribune., 1919-05-01
Money, Credit and Exchange

Call money opened and renewed yes
terday at 5% per cent, and closed at
|6 per cent. Loans on all-industrial
collateral were made at one-half of 1
per cent higher.
Time money is unchanged, fair
volume lending for sixty and ninety
days at 5A per cent on all-industrial
collateral. While banks are asking
s per cent, they yield to 5N per cent
bid by borrowers for the shorter
periods.
The ruling rates for money yester-
day, compared with year ago, were as
follows:
Yesterday.Year ago.
Per cent. Per cent.
Call money:
On mixed collateral 594 4s4
On indus collateral 6I4
Time money (mixed collateral):
Sixty days. s.......... 5A@6 6
Ninety days. 5000 6
Four months. .5aA@6 6
Five to six months. 534@6 s
Bank Acccptances-Rates were un-
changed yesterday.
1h1rty Sixty Ninety
Spot de- days. days. days.
livery: Per centPcr cent. Per cent.
Eligible
member
banks .---4h@4 4M@4h 4h@4A
Eligible
non-mErn-
ber bankk4A@4 4A@4,4 49a@4A
Ineligible
bank bills-5,4@41z 514@41z 5lA@47z
Fox delivery within thirty days:
Per cent
Eligible member banks 41s
Eligible non-member bap1u 4M
Ineligible bank bills. 6
Discount Rates-The following table
gives the current rates Of the tveivo
Federal Reserve banks on commercial
paper for all periods up to ninety days:
New-York tribune., 1919-05-01

register sales by the National Cash
Register Company in March were
the greatest in it's history.
There can be little doubt that
Chairman Peek has made the posi-
tion of the Industrial Board YER
bally unassailable. In a recent COM
munication to the Director General
he asserted that the Industrial
Board would be willing to consider
"any facts, figures or information
showing that, on any ground what
soever, the price recommended was
too high" but that it could not urge
the steel producers to make a reduc-
tion merely because the railroad ad-
ministration requests it." Mr.. Hines
has repeatedly asserted his "opinion"
that the steel prices agreed to by
the Industrial Board were too high
He has never publicly submitted the
theory or the facts behind that as
sertion.
New-York tribune., 1919-05-01
OH Boom Not Started

An oil expert, who has just returned
from abroad, remarked yesterday that
the oil boom had not even started yet
in this country. "There is a boom in
oil stocks" he said, "but the actual
boom in the oil itself will not be fully
under way until year from now. The
new ships being turned out will be oil
consumers; I hear of inquiries from
large number of mills on the cost Of
there are even Office buildings in the
downtown district which have this
question under consideration. These
developments have not yet begun to
make themselves felt, but inevitably
will"
New-York tribune., 1919-05-01
lllveeSt!!

Government Loan Organization
Second Federal Reserve District
Liberty Loan Committee, 1o0 B,way,N-Y
This space contributed to
Help Finish the Job by
Henry L. Doherty & Co.
Miller & Co.
James w. Ball & Co.
Hara11evig & Co.
Hornblower & Weeks
Hughes & Dier
J. K. Rice, Jr. & Co.
Purdy & Co.
Noble & Corwin
New-York tribune., 1919-05-01
The Dollar in Foreign Exchang

Tbs forSdxn exchAnge mardcot was
%niA4 YESTERDAY. 8tAwllux xatss wexs
l6AsaAzs HAals zxsn0a Aas2a a xs1akk.
New-York tribune., 1919-05-01

Discount Rates-The following table
gives the current rates Of the tweivc
Federal Reserve banks on commercial
paper for all periods up to ninety days:
New-York tribune., 1919-05-01

Silver.--I4ondon, 4sNd, UP Ad: New
York, $1.01M, unchanged; Mexican
dollars, TIVE, unchanged.
Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1919-03-15
News of Fifty Years Ago
tFrom the Richmond Dispatch, Mar Is, 1852

Upon the mmendation of a large number
of tho members Of the bar, General Stoneman
has appointed John Draft clerk of the county
and circuit courts of Caroline County. Mr.
HudEins. the old clerk. will be deputy under
the new regime.
The Sunday school convention comprising the
Middle District Association of Baptist churches,
will assemble in Manchester on Tuesday next
for the purpose Of affecting an organization.
There is chaos in the Republican ranks and
Il Is all about the niger It is reported that
negro Harris and try to get him to decline the
nomination for MISUNDERSTANDING. making
the point that the time for the mig has not
come yet, and that party harmony and final
success at the polls must be considered, and
must be accomplished before .the negro can
come into his own.
It is known that DR.. Sharpe will soon resign
there are evidences Of scramble for the office
c. Jay French, assistant postmaster is an
avowea candidate.
Married: AT AppomattoX on the 10th by Rev.
p. D.. 4. Edward Converse. of Richmond, to
Mise Eliza j.. daughter Of the officiating clergy
man No cards.
Married: At Birchland, Halifax County the
eesidence of Sterling Z. Edmunds March g. by
fax County. to, Miss Ellen A. Claiborne for
merIy. OF Danville.
The rush of visitors at the White House in
creases daily as President Grant grows more
sociable N.
To an Alexandria delegation calling on him
President Grant said he hopes TO see Virginia
back In the Union with her Senator's and Rep
resentatives In their soats In the Capitol before
the end OF the year. q, 20