davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1919-06-05
Stop Loss Orders

If Tuesdays setback will help in re-
adjusting the psychology of the market,
1t should help also in readjusting its
fiscal condition. The favorite device of
the speculator who enters the market
at such a stage is the stop-loss order.
he buys Studebaker at 122 and puts
IN an order to sell if ever it reaches
l2o. When the stock does fall to 12O
there arc so many orders like this that
they break the market on each other.
HIS order is in reality an order to
sell at "120 or worse" though it NAV
not read just that way The broker
may not be able to sell his stock at
anything better than III, if at that.
On Tuesday came gross declines of 20
points in Studebaker and American
Woolen. Yesterday the latter stock
advanced in a few sales from 115 to
l26 and moved back just as quickly
to ll6. The market had become honey-
combed with stop-loss orders. Re-
action has done much to clean them
out One would think that stock
worth buying at 1872 would be an even
greater bargain at 100, bur the man
who places stoploss orders is beyond
such logic. He is not buying stock. He
is trying to buy his hopes and sell
MS disappointments
New-York tribune., 1919-06-05
Confer on Electric
Railway Problems
NeW York Tribune
WCShtnOtou Ruyeo,.


WASHINGTON Ruyaou
WASHINGTON, June A commit
tee of the American Electric Railway
Association conferred to-day with
Messrs. Thielen and Niles, of the Rail
way Administration, regarding the
more or less confused relations exist
ing between the latter and the electric
railway lines of the country. Some
twenty members of the association
afterward met to consider their prob
lens, as brought out in the confer
ence and otherwise.
The electric railways of the country.
being neither taken over by the gov
ernment nor classed as short lines.
tnd that they have no regular status,
though one or two of them have quail
fed as short lines and made contracts
with the Railway Administration. The
relations of electric lines to steam lines
have always been chaotic. and now,
before the government gives up the
latter. it is considered a good time to
define the relations of the two svs-
TENS of transportation. Legislation by
Congress may be necessary in connec-
tion with the future status of the
steam lines.
The particular problems that are
worrying the electric roads in their re
lation with their "big brothers, are:
l. Proper division of traffic
2. Reimbursement of electric rail
ways on account of freight and express
business diverted by government con-
troll of steam lines.
3. Physical connections of electric
with steam lines.
a. Exchange of transportation as per
Interstate Commerce Commission regu-
lations.
5. Demand for two days free allow
ance for unloading on cars of steam
lines delivered TO electric lines
6. Through rates and traffic regula-
tons-the same status possibly as the
short lines
New-York tribune., 1919-06-05
Steel Trade News

News from the steel trade yesterday
was not encouraging. The daily output
of pig iron, traditionally considered a
barometer of general business, was
only $4,000 in May, compared with
$4,000 in the month before and III 900
a year ago. 1t was the smallest daily
average for any month since the de-
pressed days of March, 1915. The Gulf
States Steel Company passed its divi
dend on the common stock lowing to
the uncertainty in the general situa-
ton The stock broke 10 points on
The announcement and closed with a
net decline of 65s, though all other
steel issues showed advances. The
Steel Corporations untitled tonnage re-
port next Tuesday is expected to show
another decline, though less severe
than in the preceding month.
New-York tribune., 1919-06-05
The Markets
Stock Movement

Yesterdays stock market reflected a
high degree of indecisiveness among
the folk who trade. Prices at the
opening were irregular; then set in a
recovery. AS the day wore on the de-
cline came again, and prices sagged
until the last hour, when some vigorous
rises occurred. The net result was a
recovery of about one-third of Tues
days net declines. There we're gains
Of Az points in American Beet Sugar,
512 in American Ice. 51a in American
Sugar, in General Motors, in Marine
common, 8A in American Woolen. 4 a
in Nova Scotia Steel and 8 in Wilson
e. Co. Studebaker had an extreme range
during the day of 5ls points, Anne erican
Woolen of 1112 points. Transactions
reached 100000 shares, compared with
100000 on Tuesday.
New-York tribune., 1919-06-05
Observation-Disclosures
Forecast Larger
1919 Profits for
Mercantile Marine
Company, Which Wants the
Stockholders to Approve
Liquidation, Tells of Bright
Outlook for Earnings

International Mercantile Marine share
holders were yesterday officially in
formed that the estimated net earnings
Of the company for 1919, based on the
improvement in April, will probably
exceed the average for 1917 and 1918
by between 25 and so per cent The
average for those two years was SILL
832,308. Net for the current year, cal
culated on a 37l2 per cent gain, would d
be in the neigh borhood of $4,000, 900.
The statement concerning earnings
was contained in letter to sharehold-
ers accompanying a copy of the min
utes of the annual meeting held in Ho-
boken last Monday.
referring to the remarks herein re-
garding earnings" said the statement,
which was signed by Emerson Z. Par
win, secretary of the company, "the
directors wish to advise that they have
to-day (June 81 received a report of
the estimated combined net earnings
for the month of April, 1919. during
which, for the first time since the war,
the majority of your properties have
been operated under nearly more nor
NAL conditions, and that these earnings
show decided Improvement, indicating
that the combined net earnings of your
British and American properties for
the year 1919 will probably exceed by
not less than from 25 to so per cent the
average net earnings of the years 1917
and 1918, which were, respectively,
s12.171,541 and S1l. .493, ,O74."
Figuring on 81 Y per cent increase
in the April earnings over the average
monthly net for 1917 and 1918, the
April net amounted to approximately ly
s1,35O,O 900.
The belief is growing in the financial
district that the |. NJ. NJ. stockholders
will turn down the recommendation of
the directors for selling the British
fleet and their proposal for liquidating
the company. In the efforts of the
company to enlighten the shareholders
regarding the prospect for increased
earnings Wall Street saw propaganda
the purpose of which is to keep the
company in business.
"lf the International Mercantile Ma
rine Company really intends to sell its
banker yesterday who is in close touch
with the affairs of the company, the
preferred stock ought to be selling
above l50 The market price is below
1875, which, I believe, signifies that the
liquidation plan will meet with defeat
by the stockholders at the special meet
ing called for June 16."
If the stockholders vote against the
plan for selling the British ships and
decide they want the company to stay
in business, the remarks of President
P. A. S. Franklin at the annual meet
ing, as reported in the minutes, indi-
cate that approximately 10000, 900 will
have to be put back into the English
properties out Of the assets in the
treasures of the British companies.
New-York tribune., 1919-06-05
Requa Resigns as
Oil Administrator
To Join Sinclair
Organization of the New
Company With 5,OOO,0 900
Shares of No Par Value
Is Completed

NJ. L. Requa has resigned as director
general Of the oil division of the United
States fuel administration to become
associated with the Sinclair petroleum
interests. Mr.. Requa, it is expected,
will be elected a vice president Of the
Sinclair Consolidated Oil and Refining
Company, which has been organized to
acquire the Sinclair Oil and Refining
Company, the Sinclair Gulf Corporation
and other oil properties.
Organization of the new company
was completed yesterday when share
holders Of the Sholan Company, Inc,
voted to change its name and to in
crease the authorized capital stock
from 100000 shares to 100000
shares Of no par value. The Sholan
Company was the name originally de-
cidcd upon to include the merged
properties.
In accepting the resignation of Mr.
Requa as oil administrator DR.. H. A.
Garfield, head of the fuel adminstra-
ton, wrote him as follows:
II appreciate that your work has
now reached a stage al which it is
reasonable for you to ask as you have
done, that | accept your resignation
presented some months ago.
81 do so with regret, and yet with
pleasure, for, while it marks the con-
clusion of our joint services in con-
nection with the fuel administration, |
am glad to believe that it is the be-
ginning only of an acquaintance which
| trust may extend usefully over many
years.
''In accepting your resignation per-
NIT me not only to express my appre-
citation of the devotion and ability
which you have brought to the task
and the achievements which are fairly
yours, but also to say what know is
in your own mind, that the administra-
tion Of the oil division owes much to
the hearty and efficient cooperation
rendered by the National Petroleum
War Service Committee, organized as
a result of your activities in the office
"ln your association with the Sim
clair petroleum interests | hope you
will find time to continue your advo-
cacy of the necessity for cooperation
in the petroleum industry between
capital and labor and between the in
dustry as a whole and the governme mt
along the lines frequently discussed by
us"
Mr. Reoua is consulting engineer
to the Bureau of Mines on petroleum,
is a vice president of the American In
sttute of Mining and Metallurgical
Engineers, and was chairman of the
valuation committee of the lndepende mt
Oil Producers Agency of California.
New-York tribune., 1919-06-05
Culf States Passes Dividend

Directors of the Gulf States Steel
Company voted yesterday to pass the
dividend on the outstanding common
stock. basing this action upon the un'
certainty of the general situation. In
the previous quarter the company hso
paid l per cent, making the annua.
rate 4 per cent.
From December Is. 1917, to December
16, 1918, the company paid DIVIDENDS
at an annual rate of 10 per cent, the
dividend having been reduced from ~
to per cent at the beginning of ths
year.
The stock of the company broke
sharply on the exchange on the an
nouncemcnt of the passing OF the div-
dend, falling from rs to &c and CLOS
ing 6ss points off at 6Sl2.
New-York tribune., 1919-06-05
Money Inconsistencies.

The action of the local money mar
ket was wholly inconsistent with out
side conditions. Gold imports from
Canada were reported resumed and eX-
pected to reach a derable total
while Chicago and western centers re-
ported money for commercial purposes
not only plethoric but in the easiest
state since early in the year. This
in spite of the fact that general bust
ness is expanding and demands for
funds increasingly. w. Wagner e Co.
New-York tribune., 1919-06-05
New York Edison Earned
&7.86 Share in 1913

Report of the New York Edison
Company for the year ended December
81, 1918. dscloses operating revenue
OF $25 .339.203. compared with 25,6ss,
0OS for the preceding year. After
charges and taxes. balance of S5.1s3.
745 was equivalent to STS6 share
earned on the 65,945,417 capital stock.
against $6,633,3S4, or $1O05 share in
the year before
During the year stockholders re-
ceived $4,6l6,17s in dividends, the same
amount shared in 1917 Total surplus
was $37 .032 ,5o7, from which appropria
tions to contingencies and other de-
ductions aggreSating slo6.7SS were
subtracted, leaving a profit and loss
balance of $3s,925,S22.
New-York tribune., 1919-06-05
The Crenf Here

II now looks az though the market
Is on the crest Of the bull movement,
and that it would be we'll TO secure
profts on speculative holdings Of
stocks in the general Industrial list
S. B. Chnpfn & Co
New-York tribune., 1919-06-05
Wall Street Items

Eugene q. Grace. president OF the be.nal
lehem Steel Corporation. has been els''eN
a director of the Guaranty Trust Com
pany OF New York
linwood r. Clarke. formerly win
HcmphiN Noyes & Co. has become ssse
cisted with the bond department Of su"'
Il kimbey.
r r. Hunter has been elected a di'eI
tor OF the Chicago and Eastern lli'nv''
Railroad COMPANY succeeding W. J. JScn
son. resigned Donald r Mcpherson az
VS. elected n director. ding the i~'s
Charles :, Holt.
William r. Malburn. chief national oa"
examiner for the Second Federal Nasei =,
District. haa been elected vice rreS,ae..
OF the American Exchange National Ban"
New-York tribune., 1919-06-05
The Dollar in Foreign Exchange

Receipts of gold from Canada for
British government account and the
prospect OF further imports for the
same account failed to hold the ster-
ling exchange market yesterday. De-
mand sterling rates went to S46l7s and
cables to S4.62 7s, a decline of about
half a cent to the pound
Rates on Paris were barely steady
and Italian lire were slightly lower.
The neutral exchanges were fairly
steady.
(Quoted dollars to the pound.)
New-York tribune., 1919-06-05
Money and Credit

After their sensational close at 10
per cent on Tuesday, call loans on all
industrial collateral opened and re-
newed yesterday at 6la per cent, and
loans on mixed collateral at per cent.
There was even a decline to 5ls and
6 per cent during the session, but
rates closed at the opening level
Time loans we're offered at per
cent, the maximum legal rate, but the
supply was scant. Some renewals we're
made at "a per cent for shorter peri
DDS on all-industrial collateral.
The ruling rates for money ycster-
day, compared with a year ago, were
as follows:
New-York tribune., 1919-06-05
The Fundamentals.

1t would be strange if the high prices
Of Monday and Tuesday were wit
messed again before tho middle Of July
when the market will have tho frs,
definite measure Of all crops, for /,
must not bc forgotten during the com
ing days of pessimsm that after all
New-York tribune., 1919-06-05
Look On.

We have had period of consider
able expansion, with easy sailing in
the stock market, until now a warning
has been issued to go slow. Coming
from high, responsible quarters, it
should not be ignored. 1t is just as
we'll to look on for few days.
Block, Mdloney G. Co.
New-York tribune., 1919-06-05

this market is based upon crops. for
eign trade and corporate and indiv-
idual wealth, and once the technical
correction is sufficient these factors
will cause still higher prices and even
more active sessions than we have yet
e Weeks
New-York tribune., 1919-06-05
Dividends S
Reductions

lehigh Valley Railroad Company =
The regular quarterly common dividend
he's been reduced from 21s per cent to
~ per cent, payable June ID to stock
holders of record on or as soon after
July 5, 1919, as the corlp:.ny receives
from the government adequate payment
Of the rental now due. The regular pre-
ferred quarterly dividend of 212 per
celt was also declared, payable July 5
to stockholders of record June ID.
New-York tribune., 1919-06-05
Regular Declarations

London to Observe Whitsuntide
LONDON, June 4.-The Stock Ex-
change here will be closed June and
9, Whitsuntide holidays.
New-York tribune., 1919-06-05
Corporate Returns

Brooklyn 'nion Gas Company.-Cross
"Ntilue i<'r 'he year ended December Al
Ia. last odnted to $l3,o53.797 against sl3-
-'.''oi ter the year before Net after
a ,aNes was SHEETS. compared with s2.I29.
~ 'vr ~ I. After all charges surplus
was si9a,79l Adjustments amounting Io
,, DS'@9o We're made during the year Hold
,iS rl the stock shared $l.OSO.00O in divi
"eid payments. or 900 less than was
pdld ne preceding year. Final surplus
New-York tribune., 1919-06-05

Wall Streets doing the last couple
Of weeks in Crucble Steel, am sat
lsfied, have not been due to any ex
tent to operations from the home Of
fee here, but after enjoyment of an
intimate forenoon with the governing
genus OF the corporation | am CON
Plnccd the market has not been over
cnthusiastic.~C. A. Morse, OF Clark,
Chlids & Co.
New-York tribune., 1919-06-05
Market Opinion
More OF 1t.
C'rucible.

We look TO see further reaction.
Wrenn Bros e Co.
New-York tribune., 1919-06-05

Harris Forbes & Co. have purchased
and will offer shortly s5.6000 900 first
mortgage thirly-year s per cent bonds Of
the Nebraska Power Company.
w. W. Spaid, a member of the firm of
w. b. II bbs & Co, has been elected pres-
dent of the Dupont National Bank of
Washington.
New-York tribune., 1919-06-05

Following arc the official rates
quoted by the American Relief Admin
lstration on exchange against the coun-
tries on which it has supervision over
all dealings:
New-York tribune., 1919-06-05

Standard Gas and Electric Company-
Report OF tho company and subsidiaries
for tho FIRST four months Of 1919 shows
gross OF $3.o3o.4b2 and Increase OF 81 63A,-
0tl over the corresponding months of last
year. Net was 3.S43290. or $AS726 larger
than that for tho Same period OF 1918
These figures DO not include earnings OF
tho shaffcr OH and Refining Company.
Southwestern Power and Light.--(l ross
earnings OF tho comrany's subsidinries for
April amounted TO s+7SS S2A. an Increase OF
$b3.alo over tho same month of the year
before For the tw"lvc month. ended
April 80. gross WAS s6,el7.hn3 compared
WIN A.939.3l+ for tho preceding twelve
months.
New-York tribune., 1919-06-05
Yesterday Year ago.
Per cent. Per cent

Bank Acceptances.-Rat were un-
changed yesterday as follows:
Thirty Sixty Ninety
Spot de- days. days. days.
livery: Per cent Per cent Per cent
Eligible
member
banks ..4,s@4 4A@4fs 4is@4l4
Eligible
non-mem
Der banks 4s@4 4h@4I4 42s@41s
Ineligible
bank bills.5A@4Ia 514@4I2 54@424
For delivery within thirty days:
Per cent
Eligible member banks 4ls
Eligible non member banks. AIa
Ineligible bank bills s
Bank Clearings.-Ban clearings yes
terday we're:
Exchanges Balances
New York -. $1,o01. 1855, ,7ee $8o,883, 1856
Boston ..... 74.13O,705 27,793 ,93o
Chicago ...... 100,032,O88 S,942,615
st. Louis... 27,939,677 8,19O,724
New-York tribune., 1919-06-05

Silver.-London, 53Ad; New York,
S1.09$s; Mexican dollars, S4MSSc.
Sub-Treasury. The Sub-Trcasury
gained S1,181,0 900 from the banks on
Tuesday,
New-York tribune., 1919-06-05

London Money Market LONDON,
June 4.-Money 234 per cent. Dis
count rates, short bills 31l per cent;
three month bills 3$s per cent Gold
premium at Lisbon, $50.
El Paso herald. (El Paso, Tex.) 1901-1931, 1919-08-11
Buy Hoover Slosepsr-Bug Va Saving Stamps
/ HIGH STUDENTS
=lMyST REGISTER
BILL
IS INTRODUCED
Would License Big Firms
in Interstate Trade, Sup
ervise Stock Issues.

washington, .. c.. Aug 11-Legis-
lation proposing licensing Of corpora
tons having a capital or assets Of
s1o.0o0,o00 or more engaged in inter-
state commerce. and authorizing fed
eral supervision over the issuance Of
stocks and securities. was introduced
today by senator Kellogg. Republican.
Minnesota
Licenses would be issued by the fed
eral trade commission. which would
have supervisory jurisdiction over the
corporations and in case Of Illegal
cominations or conspiracies in re-
straint Of trade it would have power
TO revoke the licenses
Proposes Fair Price Lists.
Attorney general Palmer started
sunday 10 ascertain how much OF the
high cost OF living is due to excessive
profits by retailers.
In a telegram to ali state food ad-
illustrators who worked with admin
istrator Hoover during the war, the
attorney general requested appoint
ment Of a fair price committee in each
county TO Investigate what is being
charged for retail necessities and. il
in excess OF what the committee con-
prices for Guidance OF the public
Against Currency Legislation.
ITO work and to save" is the remedy
for the Increasing cost Of living
pointed out here By the federal re-
serve board
In reply 10 an inquiry from the SEN
ate banking committee. asking II II
was advisable to attempt contraction
OF currency BY legislation in the hope
OF reducing prices GOV Harding
wrote chairman Mclean that growth
in the volume Of circulating notes was
the effect ana not the cause Of ad-
vancing wages and prices. and that
the war period OF finance would not
be over until government obligations,
now carried by the banks, were alb
sorbed through the actual sayings OF
the people.
The federal reserve board believes
any currency legislation at this time
unnecessary and undesirable Mr..
Harding wrote.
El Paso herald. (El Paso, Tex.) 1901-1931, 1919-08-11
School Opens Sept. 2, But
Registration Must Be
Complete BY Aug. %.

Every student expecting. 10 attend
the fall term Of the FL Paso high
school Will have TO register before the
evening Of Friday. August p A large
number have not vet registered The
student who postpones registering
may find, when he comes to choose
his subjects or sections. that no room
remains for him in the class OF his
choice. and ne may have 70 tske q
different section or even different
subject Moreover. a knowledge CT the
number wishing a certain course or
certain hour IS necessary as guide 70
the school in arranging for courses
and sections. The knowledge is also
needed in providing text books.
The principals office at the high
school buildinE is open for registra-
ton from till 8 every day except
Saturday and Sunday. Registration
consists in choosing subjects and sec
lions from the schedule in the main
corridor. checking those subjects and
sections on a printed sheet furnished
from the clerks counter and tiling
that sheet with the CLERK
On this sheet IS also indicated the
students choice Tor a record teacner,
and boys indicate choice between
physical training and military drill
Each student is expected to deposit
25 cents and gets his locker key when
he registers.
school begins at s o'clock on the
morning Of Tuesday September 2.
Text books IN many subjects need
not be purchased. but VIII be FUR
rlshed for free use. These books viii
remain the property CT the state and
VIII be returned when the course is
ended. T1ev viii be distributed I'M
mediately after classes are organized.
El Paso herald. (El Paso, Tex.) 1901-1931, 1919-08-11
BALLOON EXPERT
VISITS FL PA50
Col. Prentice Looking Into
Plan to Station Balloons
Along Border.

Col John Prentice. balloon officer
from southern department headquar-
tsrs IN san Antonio, reached Fl Psso
sunday. He is mere investigating the
advisabnity Of stationing military bal
looms along the Mexican border and
VIII probably make a definite an
nouEcsnsnt regarding the location Of
a balloon hangar at Fort Bliss before
leaving the city. col Prentice has re-
Gently traversed the entire border dis
trict from Brownsville TO yuma. Ariz..
and it is understood made the tents-
tive selection Of several balloon sites.
II Is the plan 81 the war DEPART
ment to station Al close intervals
along the border observation balloons
for use with border patrol units army
officials assert that the army balloon
is one OF the most efficient means OF
observing the movements CT enemy
troops and i is tne opinion OF mill
rdry officials that the observation
balloon which proved such useful
weapon during the war viii also be
valuable along the border IN the loca-
ton and observation OF bandit move
mcnts.
col Prentice IS one OF the most
widely known balloon officers IN the
American army He has made close
study Of the observation balloon as a
weapon OF warfare and is ranked as
an expert IN military aeronaurics-
El Paso herald. (El Paso, Tex.) 1901-1931, 1919-08-11
C. OF C. WILL GIVE DINNER
TO IFS FORMER PRESIDENTS

Ex-presidents OF the chamber OF
commerce will be guests at special
dinner and regular monthly meeting
of the board of directors Tuesday
evening at $50 at the chamber Of
commerce. Invitations have been sent
out by manager Karl II. Roberts 70 All
former executives
Those who have been invited and
who will probably attend are S j.
Freudenthal. z II Bray, James a
Smith. z. 1Ioye, A. Courchesne, James
G. lIcNary, Walter s Clayton, Y r.
stiles, -Robert. Kralcauer. R. Burt Orn-
dorff and John " Wyatt. These men
have all served as president OF the
chamber OF commerce. Other ex-
presidents who have been invited and
who are out OF town are otis Coles.
e. ". Browne. ]. A. Happier and J. n.
Cannon
Dinner for the guests and directors
vii be served under the direction Of
Miss Helen swift, home demonstration
agent Of the chamber OF commerce