davidaulloa/AmericanStories huggingface dataset:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-02-01
General Chemical Earns Less
Company Paid Taxes Last Year
i'm Excess of 1918

Earnings of the General Chemical
Company decreased sharply in 1918,
falling according to the annual report
to the stockholders yesterday to $3.50
a share on the common stock COM
pared with $42.95 share the proceed
ing year.
Gross profits before deductions for
taxes, special reserves and dividends,
an ounted to $9,97O 260. a decrease of
sl724,4264 compared with the previous
year, Net profits after all charges
but before dividend deductions were
S4.O45 $50, decrease of $3,625, SAP
compared with 1917.
William H. Nichols, chairman of the
board, said: "The gradual return TO
normal business emphasizes the neces-
slty of careful study of all manufac-
turing conditions, still deranged by
war exigencies, and of instituting
economies wherever possible in order
TO insure the highest wages to en-
ployees together with adequate divi-
dends to stockholders.
The company paid So $50, 900 in taxes
curing the year, an increase of $780,
COO,
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-02-01
Papermakers to Discuss
Read justment of the Industry

The fourth annual convention of the
Technical Association of the Pulp and
Paper Industry will be held at the
Waldorf Astoria from Monday, Febru-
any 3, to Thursday, February 6. The
banquet, which is scheduled for Tues
day, will be held at the Iotel Aston.
The convention will take Up in detail
the various readustment problems that
con ront the paper industry, some of
the leading pulp and paper men in the
country being scheduled to speak on
the technical and labor sit .ntions as it
is viewed by the associatiesa. Speakers
at the banquet will be Dr. Charles P.
Steinmetz, of the General Electric Com
pany; George W. Sisson. president of
the American Pulp and Paper Associa-
tion Ernest K. Behrend, president
Hammermill Paper Company, and Rob-
prt B. Wolf, Of the United States Ship
ping Board, Emergency Fleet Corpora
ton.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-02-01
Restraints ON Exports to
Switzerland Are Removed

Under new ruling by the War Trade
Board licenses will be issued tor ex-
port to Switzerland of the following
commodities:
Adding and calculating machines, ala
baster bicycles and spare parts, excluding
tires buttons of ali kinds, celluloid wares,
chemical products for pharmaceutical use.
china clay cnematograph h'sls, dental
burs, dental filing materials. disks and CYL
inders for graphophones and monographs,
drugs as follows: Chronic acid, hydro
bromic acid. amide pyrin, aconite and prep
arations of alkaloids of, arsenical sa. IS for
medcnl ues, betanapthol, sodium bromide.
eucaine nitrates Of silver, sodium nitro
prusside opium and akaloids and prepara-
tials of, paraldehyde. phenacetin and
fruits foenicuh duplicating machinery and
supplies therefor electro-plated. giloed
silver goods. except those of solid silver or
gold feathers, made up: films for photog-
raphy, flower seeds. except seeds of oil
bearing plants fruit. fresh and unswect-
ened fruit juice; furs, dressed. dyed or
manufactured huttong of all kinds hair
nets of silk or hair, hats of all kinds imi-
taton jewelrv, laces, guipure, hand and
machine made; laundry machines. leather
goods. imitation; leather. fncy godoas in
leather, morocco; liquors. not including I'M
sweetened spirits marble. and and worked
oils. essential; Photographic goods. but not
chemicals: printing presses, sensitized pa
per and plates, sewing machines for do
mestic use. silk. ribbons and trimmings of;
spanners for cycles, spectaces and eye
glasses, typeetting and typecasting ma
chimes, including type metal; typewriters
and duplicating machines, wines.
Licenses will also be issued freely
for shipments of the following descrip-
ton:
All commodities. including foodstuffs,
when the shipment does not exceed 5000 in
value
Personal effects. household goods and
other articles of personal property. the
shipment of which is not a part of any
commercial transaction, without any limi-
tation to value.
Articles of small value to be used solely
for advertising purposes.
Magazines. books. pamphlets, etc
Articles for shipment to the American
Red Cross and similar organizations at
Bcrne. Switzerland
1t will no longer be necessary for the
importer to secure a permit from the
Soclete Suisse de Surveillance for ship
ments of the commodities named.
Exporters are cautioned to make ne
shipments in violation of this trading
with -the-enemy act, and goods shine,
to Switzerland under the new r,ilins
are not to be reaxported. Application,
for export licenses are to be made tt
the War Trade Board in Washinrtor
or its nearest branch.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-02-01
Brooklyn Edison Sells
SIS, 500, 900 Of Bonds
Bankers Offer New Rock Island
8 Per Cent Notes
at G8I-2

New financing announced yesterday
included the sale of S5.50O,000 general
mortgage per cent series a bonds
of the Brooklyn Edison Company TO
the Guaranty Trust Company and $4,-
100000 Chicago, Rock Island & Pacific
Railway three-year 6 per cent collat-
eral trust notes to Speyer & Co. and
Hayden, Stone & Co. The latter secu-
rites are offered at 9812
The Brooklyn Edison notes have been
authorized by the Public Service Com
mission to reimburse the company on
account of expenditures for additions
and improvements to plant The com
pany has heretofore usually done its
financing through the issue of con-
vertibe debenturc bonds to it's stock
holders, so that the present is the first
issue of securities in many years sold
to bankers Dividends at the rate of
tai stock since 1904
The Rock Island notes fall due Feb
ruary l, 1922, andare secured by ST.
100000 of the company's first and re-
funding mortgage per cent bonds,
pledged at 60. The proceeds of the
notes Will be used for the settlement
of claims, long in litigation, of the
Colorado & Southern Railway growing
out Of contracts relating to the sccu-
rites Of the Trinity & Brazos Valley
Railway and the Galveston Terminal
Railway Company, and the use of their
properties.
| An estimated income account of the
Rock Island for 1918, based on the
average net operating income of the
three test years, furnished the bankers
/ by Frank Nay, controller, showed S15,-
925,118 rs the standard return based
onthe minimum rental the company is
entitled to receive under the Federal
control act. Other items were: Total
Incorporating income, $1,000 total
gross corporate income, $1,000 ,147;
deductions from gross income, ST.
100000; interest in funded debt, So
207 000 interest on unfunded debt,
$270,000 surplus available for divi-
dends. $5.317.147.
After deducting the amount Of divi-
dends on the two classes of preferred
stock, the remainder was equvaent to
2.3l per cent on the $7f,359700 com
mon stock.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-02-01
Pipe Line Profits Drop
Most Companies Report Sharp
Decreases in 1918

The leading pipe line companies of
the country issued their annual reports
yesterday, covering operations in 1918
Most of them showed decreases in
profits.
The Southern Pipe Line Company re-
ported profits of $,O69,037, compared
with $2,534,565 in 1917. After dividend
payments there was a deficit of $780,
692 against surplus of S134,566 the
year before.
The Cumberland Pipe Line Company
showed net profits of $564,o54, com
pared with S487,758 in 1917, and the
surplus aft, after & dividends was s384,O63,
against $338,879 the preceding year
Net profits of the Eureka Pipe Line
amounted to $84s,712, compared with
81, 1888 the year before. After divid-
end deductions there was deficit of
$251,28S, against deficit of $88,121 in
1917.
The South West Penn Pipe Lines re-
ported profits of 1895, 723, compared
with $338,436 the year before After
dividend payments there was a deficit
of $124,275, compared with a deficit of
S81,463 in 1917.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-02-01
Products Needed by Sweden

Among products to be had in the
United States particularly needed by
Sweden are listed by the American Con-
sulate at Stockholm tae Following:
Food of all kinds; machines and ma
chine tools; lubricants; lubricating
oils; copper; nickel, tin and like met
ais; sulphur; harvesting machinery;
cotton; wool; leather rubber; coal;
copper wire. Sweden would buy toys;
cotton, wool and silk cloths; cotton,
wool and silk underwear; cotton, wool
and silk stockings; shoes; all kinds of
clothing for men, women and children:
motor cars; thread; typewriters, and
adding machines. etc.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-02-01
Produce Exchange
Opposes Food Control
Resolutions Call for fastening
Return of Normal
Conditions

Declaring that reduction in the
price Of the great food staples is the
first and most vital factor in bringing
about lower living costs in the country
the New York Produce Exchange
through its board of managers, .yester-
day went on record as being strongly
opposed to any further government
prlce-flXlng or control of foodstuffs
beyond the point required in making a
Just and equitable adjustment of ex-
listing government obligations.
Resolutions adopted by the managers
follow:
Whereas, 1t isNevident that readjust-
ment from war conditions is inevitable,
and is. in fact, proceeding IN in
dustry and commerce. and
Whereas. We believe that material re-
duction in cost of living is absolutely es-
sential to the successful reorganization
and adjustment of the country's economic
and social life, and
Whereas. 1t is evident that a reduction
in price of the great food staples in the
first and most vital factor in bringing
about lower living costs. which must take
place to meet probable reduction in
wages in the manufacturing and industrial
life of the country therefore,
Be 1t Resolved That the policy Of this
exchange IS against any further govern
ment price-fixing or control of foodstuffs,
beyond the point of just and equitable
adjustment Of existing government oh.ga-
tons, in which consideration should be
given to the rights of all classes. both
producers and consumers and that the ex-
change hereby empowers it's officers or
other authorized representatives to assist
in any necessary constructive work, legal
otherwise, to hasten the return of bust
ness to its normal channels.
Edward Flash, jr., president Of the
exchange, said yesterday that the grain
trade section of the board would be
represented in Washington at the hear
ings next week on the Administration
bill which in its present form provides
for an appropriation Tor $3.50, 100000
to enable the government to carry out
its guarantee to the farmer of a price
of S2.26 bushel for the 1919 wheat
crOp
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-02-01
Relevant Comment
Merger Report Is Denied

New York Air Brake stock broke 81
points yesterday to o71a on transac-
tions of 7o0 shares. The day before it
tell IA points Wall Streets explana-
ton OF the movement in the stock is
that the c. mpany with it's war bust
ness at ar end is not in a position to
MAINTAIN its present rate of 20 per
cent dividends on the stock Advices
from WATERFOWL, N Y, yesterday, the
nome OIL the New York Air Brake Com
pany's plants, told of reports in circu-
latlon there to the effect that merger
between that concern and the Westing-
house Ali Brake was under way. It
was stated that the WESTINGHOUSE in
terests would absorb the New York Air
Brake Company. Officials of the latter
corporation denied the reports and
stated that they had no basis, in fact
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-02-01
Trade Volume Dwindles;
Weather Partly to Blame

A general slowing up of trade activi-
ties because of the waiting attitude as
sumed by buyers in almost all lines Of
business is noted in "Bradstreet's"
weekly trade review. With the slow
ing down of industrial activity the JOB
bing and wholesale trades have become
quieter and retail demand is also at a
low ebb. At the same time collections,
which have heretofore been good, are
also beginning to drag.
Present trade conditions, especially
as they effect the jobber and retailer,
are partly the result of unusually mild
weather.
The favorable features of the present
trade situation is that the drastic cut
in ocean freight rates is acting as a
stimulant to exports of steel, lumber
leather and other manufactures, while
wholesale prices of food are lower and
reduction in retail prices is immi-
nent
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-02-01

If we look on our war debts as
burdens, we have just as little and
just as much right to look upon
them as blessings. We will hold
$4,000, 100000 of bonds which we
did not hold before the war. We
will be getting interest on them. 1t
is not the average American" but
the average American taxpayer,
who will have to contribute fifteen
days laboS (if that calculation is
correct), to the support Of the gov
eminent in 1920. But the average
American bondholder will receive
from the government fifteen days
pay for which he does not work. 1t
is right that he should; for taxation
is levied according to means, while
bondholding depended more on pat
riotism and ready cash or available
Income. AS for the average Amer
lean himself, he will receive his full
pay, as always, for 1G5 days Of the
year, and no more. The individual
as taxpayer pays money to himself
as bondholder.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-02-01
Other Cities

BIZ to Aid Connecticut Trolleys.-
HARTFORD, Conn, Jan. 31.-State aid
to the extent of s2,OOO,OOO to the Con
nectIcut Company, which operates most
or the trolley lines in the stats, vas
proposed in a bill offered to-day IN the
General Assembly. The Public Utilities
commission would first give hearings
TO determine the need and decide on
the payment of sums as required.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-02-01
Copper Wage Problem

Leading copper producers attach great
importance to the conferences going
on in Washington between labor dele
gates from Arizona, Utah and Mon
tana and Secretary of Labor Wilson
on the matter of wages. A leader of
the industry said yesterday that the
principal mines would rather close
down entirely than continue the pres
ent scale OF wages, which is based on
price of approximately 26 cents a
pound for copper. With the prospect
that the official quotation will soon be
reduced from % to 20 cents pound,
the argument is put forth that there
Wlll be widespread unemployment in
the mining districts unless steps are
taken to bring labor costs down pro-
portionately. Producers state that
with the large stocks of copper metal
on hand they could easily stop opera
lions until normal demand has been
created
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-02-01

The Mercantile Bank of tho A,,.
lens yesterday withdrc 81 300 90 ~
gold coin from the Sub-Trcasurv for
shipment to Colombia. The shipment
IA for the Colombian government
which recently sent bullion and gold
DUST of that amount to the United
Etctrc o"
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-02-01
Bank Clearings.-B Bank clearings yes

Silver.-London, 48isd. unchanged;
New York, 1011sc. unchanged; Mexican
dollars. 77Mc, unchanged.
Sub Treasury - The Sub Treasury
gained $2,694,oOo from the banks on
Thursday.
Bank Acceptances- With cali money
rates fairly low the demand for bank
acceptances was active. Rates we're
unchanged, as follows:
Thirty Sixty Ninety
Spot de- days. days days.
Iis'vry Per cent. Per centPer cent
e ri c
member
banks ..4h@4 4a@4a 4h@41z
f 81 b q
non-fnem-
Der banks.4l4@4Ha 4sa@414 4ss@4a
Ineligible
bank bils.51a@5 5A@s 51s@s
For delivery within thirty days:
Per cent
Eligible member banks. ......... All
Eligible non-member banks. .... AZ
Ineligible bank biils. .......... 6
London Money Market. - LONDON,
Jan. BIZ Clo2ng rate for money was
. l-8 per cent. Dcount rates were.
short and three months bills 3 1872
per cent. Gold premiums ut Lisbon,
e700.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-02-01
British Import Restrictions
On Svrups To Be Lifted

The British Sugar Supply Commits
sion has announced tho removal, from
February "a, of all restrictions limiting
Importation and sale of syrup, molasses
and other articles of like nature. Pres
ent prices, according to consular adj
vices from London, remain in force as
maximum only.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-02-01
T telephones
Beekman 5000
Beekman 8243

will get it back. The taxpayer will
pay it to him. But the nation as
whole lost what it lost during the
war. From now on it is a settle
nent of accounts within the family,
SO to speak.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-02-01

The above rates express the cost Of
foreign money in terms of the Ameri-
can dollar. You buy an English pound
sterling, say, at S4.75s4. The intrinsic
parity is $4SC5s per pound. Thus you
say either that pounds are at dis
count or that 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 then the. demand in this coun-
try for pounds with which to settle
accounts in England.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-02-01
Spain's Exports to United States

Declared exports from Spain to the
United States and its possessions for
the year 1913 reached total value of
S21 ,575765, compared with $37 GAG .415
in 1917, divided as follows: United
States, S20,2so 500, against $35, 1888 ,472
in 1917; to the Philippine Islands,
S724,458, compared with $685., $3.50, and
to Porto Rico, S570,SO7, compared with
1887 1898 in 1917.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-02-01
News Digest
New York

Liberty National Opens Industrial
Departmen..-Joseph Bower, vice-pres
ident' announced yesterday that the
Liberty National Bank had organized
an industrial department for the pur-
pose Of offering services in an advisory
capacity on matters pertaining to man
ufacturing and industrial problems.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-02-01
DIVIDEND NOTICES
United Drug Company

second Preferred Stock Dividend No. IL
The Directors of United Drug Co have
declared a regular quarterly dividend Of
/ - q on the second preferred stock OF
United Drug Co. payable March LIST, 1919,
TO stockholders of record February 10, 1919.
JAMES c. MCCORMICK, Treasurer.
Boston. January IS, 1919.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-02-01
Money and Credit

There was no noteworthy change in
yesterdays market for call money. The
rate for loans secured by a mixture
Ct industrial and railroad stocks opened
at ~ per cent and declined in the
afternoon to 4 per cent, with a ruling
rate of az, as on the day before
The market for fixed date funds con-
tinues in the same position. Most
brokers viii not bid more than 81
per cent for loans that they can carry
for sixty to ninety days when they
can get day-to-day money at lower
rate. Lenders of time money still ask
. Z per cent.
Yesterday. Year ago.
Per cent Per cent
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-02-01

The Federal Reserve Bank of New
York has put in force the following
schedule of rediscount rates which
apply to bankers acceptances: Ma
turtles up to IS days, per cent; 16 to
60 days, inclusive, Az per cent; 81 to
80 days, inclusive, Az per cent.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-02-01

Economists declared while the
war was still going on, that it was
entirely and unescapably being paid
for then. There was no economic or
ethical question OF whether we
should pay for the war or make fu-
tire generations pay. We could not
|shove the cost ON to future genera
tons il we would. We could not
borrow the wheat we ate, the ships
we sunk, the shells we blew up, from
future generations. All these mate
pal things, the real wealth, were
Pcst. The taxpayer who was taxed
Puring the war paid for the war di-
ectly and at the time, and he knew
and felt it. But the taxpayer was
$50 paying for the part Of the war
nich was financed by loans, with
re difference that he didn't feel II
seause he didn't know IL. What
ppened in essence is that tho
ndhoider lent him the money. and
turned II over 70 the government
% weSith represented was abao.
Eely ~1ped out. The bondheld~v
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-02-01

Public National Bank to Increase
Capital-The Public National Bank has
received authority to increase its can't
tai stock from $1,OOO,0O0 to $3.50 900
The bank has surplus and undivided
profits of $1,O00,570, deposits of about
$33' o0o 900, and total resources of $50,
100000. T''
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-02-01

Offerings Of sterling bills we're some
what heavier in The local foreign cx~
ehange MARKET yeaterday, With the re-
sult TINT gigbt drafts on London de-
elsncd from sa.76So 10 s4,7615. Neu-
trial exchanges continued 10 display nn
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-02-01

Commercial paper-There is a mod
crate amount of discounting in prime
paper at 5 and 81 per cent for the
regular maturities, and the volume of
paper coming into the market remains
small.
Discount Rates.-The following table
gives the current rates of the twelve
Federal Reserve banks on commercial
paper for all periods up TO ninety days:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-02-01
Europe's Copper Stocks Big

Little foreign demand for copper is
expected in this market until the large
stocks held abroad have been ex
hausted. Figures recently compiled
by the Engineering and Mining Jour
nal show that Great Britain on Janu-
airy 1, had over 80,OOO0O0 pounds on
hand, while France had 100000
pounds. The French government is
refusing all licenses to import copper
until stocks IN that country have been
exhausted.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-02-01
Bankers Views on Texas Company

John ]. Mitchell, president of the
Illinois Trust Company, and director
Of the Texas Company, was quoted
yesterday in Chicago dispatches as
saying: "Strength in Texas Company
stock IS quite in order following the
big we'll brought in recently in Texas
The well was discovered over three
weeks ago, and is high grade oil. 1t
appears to be inexhaustible. 1t is the
settled policy of the company to is
sue new stock for the benefit of old
stockholders once year. While the
amount and date of the next issue will
rot be determined for some time fresh
certificates will be issued during the
current year"
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-02-01
ANDREW ]. MCCORMACK. Auctioneer.
REGULAR AUCTION SALE
STOCKS AND EDNDS,
BY ADRIAN II. NULL Err & SON,
OFFICE. 55 WILLIAM ST.
10 4 n

WEDNESDAY. FEB'r 5, 1918.
at 1870 O'Clock a, the
EXCHANGE SALES ROOM,
NOS. IA AND Is VESEv STREET.
For Account of Executors:
35 shs. First National I5ink. Brooklyn.
IL 5505-l0,0O0 shs. Manufacturers
Trust Co. New Stock
0 shs National Park Bunk.
For Account Of Whom 1t May Concern:
25 chs. Great American Insurance Co.
so shs. Bankers Trust CO.
0 shs. First Mortgage Guarantee Co.
400 shs. Leavitt Realty 60
% shs Columbia Trust co.
% shs Established Lana Corpn.
u shs. Established Lana Corpn.
900 shs Emerson Phonog.aph Co.
$50 shs. W. II. Miner Chocolate Co.
common.
IS 900 Gary Connecting Rwys Co. LIST Mtg.
So Bond, Ctf. of DeI.
5000 shs. Bronx Exposition. Inc. COM
mon
500 shs Bronx Expositioc. Inc, prefd.
$4,000 City & Elm Grove Il. r Consld
Coll. Trust $50 Bonds, July. 1915.
coupon
rs. 900 shs Companis Agricola COLOMBIA
dora del Estado de Tabasco =
Chiapas, S. a.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-02-01
w ea1th-Ma r x ets-Inve stments

easier tone, and scandinavian rates de-
clincd slightly.
Closing rates yesterday, compared
with a week ago, follow
Quoted dollars to the .pound.)