davidaulloa/AmericanStories huggingface dataset:
Daily Kennebec journal., 1919-09-29

Puts IDEAL HOT WATER HEATING comfort af iow cost
IN cottages, fats. stores, wifh or WITHOUT cellars
The pEAArcnia takes the place Of parir stove But
stove wastes much Of ITS heat up the whereas the
DEArcnla and by hot
eruiatcn through AMERICAN Radiators stationed
the adjoining Every ht Of the big volume OF heat developed
pound Of fui ALL
uniformly, heaf1fu1y There cnalwaste The
DEAArria building
uRpextREaf!
Daily Kennebec journal., 1919-09-29
Ceanly heatns-healthfu heating
free from fire rixki


%s%E[E=sssE sssEsSs==S==ss= ==ss=ESs.:==@=sS==Ezs@ES
Daily Kennebec journal., 1919-09-29
AUCTION

On the estnte of the iate WIN. \.
shenne-d. West Garriner, Msek -uad.
New-York tribune., 1919-05-10
Say Proposed Tax
On Curb Brokers
Will Ruin Market
Protest Registered Against
Measure at City Hall
Meeting; Fee Reduced
and Bond Eliminated

Declaring that it would have ten
dency to destroy the market and Gre
ate a monopoly of the curb. Morgan J..
O'Brien and Franklin Leonard, jr., at
a meeting of the Committee on General
Welfare of the Board of Aldermen yes
terday protested against the adoption
of the measure introduced by Alder
man William F. Quinn providing for
the payment of Il tax to the city by
curb brokers. AS originally introduced
the proposed ordinance provided that
every curb broker should pay license
fee of $1,000 q year and also give
the city bond of $4,000 for the OBJ
servance of all financial obligations.
At yesterdays hearing Alderman Col
lins, chairman of the committee, stated
that the measure had been amended
by the introducer so as to make the
license fee $500 and that the bond
provision had been eliminated.
According to Judge O'Brien, the diff
would not be in the amount of the
money charged for the license, but in
the effect it would have upon the oper-
alton of the curb. He said the tax
would lessen the number of brokers
and injure the financial life Of the city.
Mr.. O'Brien painted out that the bust
ness of the curb brokers is regulated
by an association that corrects any
abuse that might happen among its
members.
Mr.. Leonard said that there were
seventy-five Stock Exchange houses
members Of the curb market and that
there had not been one failure of con-
tract in two years. There are 415
members of the association, with 7,401
employees, and any ordinance making it
impossible for these members to do
business would be great misfortune
to the employees, in the opinion of Mr..
Leonard.
"If you want funds from the curb
market the place to get them is in the
ard. "We are paying the state more
than $4,000 day on transfers on
stock, and in the last three months we
have paid a total to Federal and state
governments Of $2,977 900. Even on
light days the transfer tax fees amount
to upward of $4,000"
Alderman Quinn said it was not the
purpose of the ordinance to put the
curb market out of business. He had
been a member Of the curb association
for three years and knew how the bust
ness is conducted, he declared. '"I in
troduced the ordinance at the instiga-
tion of certain members of the mar
ket, and they authorize me to say that
if the bond is eliminated and the fee
reduced to 5000 they will favor the
ordinance" sadi the alderman.
The committee took the matter un-
der advisement and probably will re-
port to the Board of Aldermen next
Tuesday.
New-York tribune., 1919-05-10
Details of American
Sumatra Financing

Julius Lichtenstein, president of the
American Sumatra Tobacco Company,
sent out notice to the stockholders
yesterday giving the details of the pro-
posed new financing Of the corporation,
which involves the issuance of $6,000,-
900 of ten-year per cent sinking fund
convertible debenture bonds.
The new issue will be convertible
into common stock of the company at
par, for a period of thirty days from
the date of the bonds, and thereafter
at S110 per share. Privilege is to be
given to the holders of the preferred
and common stock to subscribe after
May 20, 1919, and up to June 10, 1918,
for as much of the issue as shall equal
60 per cent of the amount Of pre-
ferred and common stock outstanding
on May 20.
The issue will be underwritten by
a syndicate consisting Of the Chase
Securities Corporation, Tucker, An
thony & Co. and Montgomery & Co.
Proceeds of the bond sale will be used
for additional working capital in con-
nection with the development Of the
company's properties.
New-York tribune., 1919-05-10
Vauclain Elected
Head of Baldwin
Locomotive Works
Succeeds Alba B.. Johnson as
President of Great Indus.
trial Company; No Change
of Policy Contemplated

PHILADELPHIA. May 9.-Phila-
delphia's greatest and most famous in
dustrial concern, the Baldwin Loco
motive Works, got new head to-day.
Samuel M. Vauclain was elected
president of the company, succeeding
Alba B. Johnson, whose resignation
was accepted at special meeting of
the board Of directors. Mr.. Vauclain
had been vice-president. Since January
/, 1888, he has been in the service of
the concern, in increasingly impor-
tant positions. For his work in con-
nection with the war, France made
HIM Chevalier of the Legion of
Honor.
Retirement Of Mr.. johnson is not
surprise to those who have been in
close touch with Baldwin Locomotive
Works affairs. In his statement. is
sued to-day upon his resignation, Mr..
johnson said that he had had the step
under consideration even before the
war. He intends to devote himself to
the various outside and public in
terests which have been more and
more engaging his attention. Mr. Mr.
johnson had been with the concern
fortytwo years.
1t is stated that the policies Of the
Baldwin Locomotive Works will not be
changed. The concern now has large
orders on hand to be filled and has
every reason to expect its full share
of the new domestic and foreign bust
ness in locomotive building which is
ahead In the further development of
the business there will be an increas-
ing transfer of the big operations to
Eddyston, where the company soon will
come into possession of great build
lngs erected there under lease arrange
ments for the manufacture Of army
rifles and shells. The machinery in
such buildings does not come with
them, nor is it, except in very minor
degree, suitable to the purposes of the
Baldwin Locomotive Works.
New-York tribune., 1919-05-10
Copper
r arnings 1875
Per Cent i'm 1918
Mounting Costs of Opera
ton, With Price for Metal
Fixed, Is Cause of
Heavy Decline i'm Profits

The Anaconda Copper Mining Com
pany, owning and operating some of
the largest American metal properties,
earned 1885 per cent share on it's
Sl16,562,500 outstanding stock in 1918,
compared with 29.44 per cent earned
IN 1917, according to the annual report
issued to the stockholders yesterday.
The drop of more than IL per cent in
the amount earned a share was due,
the report states, to the higher cost of
operation and the maintenance of the
governments fixed price of 231a cents
pound for copper.
"Continuance of the fixed price," the
report states, "of 231a cents to July 2,
resulted in lower price being realized
previous two years. The lack of future
sales necessitated the carrying over
of inventories Of unsold metals at the
end of the year, at cett; thus the
gross income of the company was sub
stantially decreased.
1.-THE increases in wages, freight
charges, cost of supplies and of treat
ing custom ores, and refining metals,
reduced, by comparison with the two
previous years, the net income realized
on the business done"
Production in 1918
In 1918 the Anaconda properties pro-
duced 4,918,468 tons of ore, and the
companys total revenues from all
sources, including sales of metals, sales
of merchandise, royalties, tolls, metals
IN process and on hand, and incomes
from investments, amounted to $780,
486,315, compared with $158,954,239 the
year before. Accounts receivable and
c hor 1f k.a Of hn
totalled $30,702,052, against $27, ,109,819
in 1917. The company charged off for
depreciation $6,l04,l85 last year,
against $685. ,436 the year before.
During the course of the year the
Anaconda company bought into an oil
property, getting joint control, with
the Inspiration Consolidated Copper
Company, of the Arizona Oil Company
in order to protect its fuel oil supply
upon which the operations of the Inter
national Smelling Company at Miami
depend. The oil property involves 100
acres of oil producing territory in the
company's net investment on Arizona
oil stock amounts to $794,668.
Investments Exceed $8,O00,00O
In all the Anaconda and its sub
sidiaries expended $8,883,627 on invest
ment account in 1918, the largest deal
being the acquisition by the Interna-
tional Smelling Company of 100000 out
of total of 1,25o,o0O shares of the
Walker Mining Company stock. This
property is located in California, in
Plumas County.
Total production at Anaconda and
Great Falls last year amounted to $685..
603,726 pounds of fine copper, 10,967 ,9O5
ounces Of silver, and 64,317,622 ounces
nf rokd
New-York tribune., 1919-05-10
Orient's Demand
Controlling Factor
I'm Silver Market
Price Still Rising Owing to
Pressure of Orders Long
Held Back by American
Embargo on Exports

The future trend of prices in the
market for silver metal depends to
large extent upon what price the
Orient is willing to pay to add to it's
supplies, according to Handy &, Har-
man, one of the leading American bull
lion houses.
China was reported to be in this
market yesterday for substantial
amount of bar silver, with a bid Of
S1.O6 an ounce. American interests
were bidding $1.o5&, while sellers were
holding their metal for higher figures.
With the embargo lifted" said a
member of the firm of Handy & Har-
man, in discussing the general silver
situation, 1.-The advance in silver prices
has been occasioned and maintained by
reason of the fact that those who had
orders for various countries for mint
age. and for use in the arts which
could not be filled owing to the re-
strlctions on exports are now press
ing their accumulated demands upon
the market. Unless the price at which
India will take silver advances the out
put OF the country will more than sat
lsfy the orders coming into the mar
ket. The future of the silver market
depends on what the Far East is will
ing to pay for the metal"
Ihere are no surplus stocks Of sill
yer In the United States at present, and
orders for the metal are being filled
from virgin silver as it comes from
the mines and the refineries.
New-York tribune., 1919-05-10
In d IL s strial
Cotton

Cotton prices resumed their ad
vance yesterday, showing net gains
for the day of Ito 81 points. The
market opened higher, and met with
no serious setback. There was con-
siderable pressure to sell on the early
advance, but prices held up fairly
we'll under these offerings, and later
scored a further rise. Unfavorable
weather, higher prives at Liverpool
and the proximity of peace were given
as reasons for the markets strength.
October cotton, a its high point Of
1927, was about full cent above its
recent low
Exports were heavier yesterday.
Shipments were 52,529 bales from all
ports. Exports for the season arenow
within $4,000 bales of the 100000
mark. The Liverpool weekly statistics
show that all stocks of American cot
ton there have decreased $4,000 bales.
Improving demand and an upward
price tendency are reported from the
Boston cotton market. Buyers ap-
pear to be more concerned about de-
liveries than price. Some dry goods
men express the belief that the trade
has pretty we'll discounted the sign
ing of the peace treaty A report
the Supreme Economic Council are
arranging for the sale Of cotton to the
Czecho-Slovaks.
In the local market, spot cotton was
quoted at 2910, an advance of 35
points.
Prices for future contracts follow:
NEW STYLE
New-York tribune., 1919-05-10
Reserve Bank of N. Y.
To Open Buffalo Branch

The Buffalo branch of the Federal
Reserve Bank of New York will open
for business May Is. The officers of
the branch are R. M. Gidney, manager,
and l. w. Waters, acting cashier.
The work of the branch will be car
ried on under the general direction
and supervision Of a board of five
directors, three Of whom are appointed
by the Federal Reserve Bank of New
York and the other two by the Fed
eral Reserve Board in Washington.
The directors appointed by the Fed
eral Reserve Bank are: Harry T.
Ramsdell, president of the Manufact-
urers and Traders National Bank,
Buffalo; Elliott G. McDougal, presi-
dent of the Bank of Buffalo; Raw. M.
Gidney, manager, formerly assistant
Federal Reserve agent at New York.
The directors appointed by the Fed
eral Reserve Board are: Clifford Hub
bell, president Of the Fidelity Trust
Company, Of Buffalo, and Charles M.
Dow, president Of the National Chau-
tauqua County Bank, Of jamestown,
N. y.
New-York tribune., 1919-05-10
To Sell Coast Line Ships
Mallory, Ward and N. Y.
& P. r. Companies Are
Involved in Deal

1t was reported yesterday that
negotiations are being consummated
for the sale of the Clyde, Mallory,
Ward and New York and Porto Rico
steamship companies to the Interna-
tional Mercantile Marine Company.
Through the ownership of practically
all of the outstanding stock these COM
panies are controlled by the Atlantic
Gulf and West Indies Steamship Com
pany. 1t is understood that the At
lantic Gulf and West Indies Company
were willing to sell the ships of the
operating companies for S55,00o,0O0
With about seventy ships with a
dead weight tonnage of 100000 tons are
involved in the negotiations which will
not include tankers and certain lower
tonnage vessels owned directly by the
company. Of the vessels included in
the transaction twenty-three are owned
by the Clyde Steamship Company,
fourteen by the Mallory Line, twelve
by the Ward Line and twelve by the
New York and Porto Rico Steamship
company. All the ships have been en-
ployed in the Atlantic Coast and Gulf
service.
New-York tribune., 1919-05-10

The National City Bank does not
expect prices to fall, save gradually,
and over period of years, because,
for one thing, food prices are now
at their highest levels, and cannot
decline until Europe begins again to
furnish it's own food needs. Food
prices tend to keep up wages and
wages tend to keep up all other
prices. Theory is supported by facts.
Price Investigations for the periods
following the Napoleonic and Civil
New-York tribune., 1919-05-10
Want Revolving
Fund Replenislned
Bankers and Rail Executives
Want Congress to Furnish
Money for Carriers

r Bankers and railroad men, at con-
terence yesterday in the Offices of ]. p.
Morgan & Co., discussed plans for urg-
ing upon Congress, when it meets this
month, to Immediately pass the de-
hciency. measure providing for the re-
plenlshlng of the railroad revolving
1und. The bill which failed OF passage
at the last session called for an appro-
priatlon of $750,000 900, which, it is re-
ported, may be increased to $1,000 900
o0o by the new Congress, majority of
which will be Republican.
The bankers who attended yester-
Gays meeting included j. P. Morgan,
Dwight w. Morrow. William II. Porter
and George F. Baker. I. De Witt
Suyler, chairman of the Association of
railway Executives, and it's counsel.
Alfred +. Thorn, represented the rail-
roads.
-, In the discussion it was understood
that much stress was laid on the part
the panks have taken in financing the
needs OF the carriers since the last ses-
sion of Congress, and the Importance
OF relieving them of that burden as
speedily as possible.
Figures supplied by the Association
OF halfway Executives disclosed that
since April / the railroads have had to
borrow more than $36O,00O,0O0 because
OF the railroad administration's inabil-
lty to meet its obligations. Of this
sum approximately half was handled
by the banks, either in the form of
direct advances or b. aiding the COM
panies to obtain extensions Of matured
notes. The War Finance Corporation
is the other medium which has helped
carry the transportation companies
over their financial difficulties.
Unless the new Congress acts by Julv
l the banks and the War Finance Cor
poration will be called upon to finance
an additional $162,000,000 of railroad
obligations falling due at that time,
Of this total $113,00O,OOO represents
corporate requirements, $34,OO0,OOO Sc
cured notes and $15,O00,OOO unsecured
New-York tribune., 1919-05-10
Want Time for Selling
B. & NJ. Stock Extended
Federal Trustees Say Plan for
Lifting Receivership Is
Materializing

Further time in which to sell about
100000 shares Of stock of the Boston
q Aaines Railroad was asked in the
United States District Court yesterday
by James L. Doherty, of Springfield,
Mass, and other Federal trugtces ap-
pointed under the dissolution decree
against the New York, New Haven &
Hartford Railroad and its co-dcfcnd-
ants cn October II, 1914. The trustees
wsnt the time in which they have
been directed TO sell 251 40 preferred
xaareg and 250.25& common shares Of
tne bcnton b Maine and certain
Is@l. -
In their petition the trustees assert
Vat ailce tae date of their appoint
neaE tbe faanciai condition N the
Eoston & Maine bas been such that
y naS been impossible TO dispose Of
saese large quantities OF stock with
~ q great and unreasonable sacri-
@sp1@s
New-York tribune., 1919-05-10

greatest since the 2,O58,O00 shares
of February /, 1917. The record
day on the Exchange # 3,336,695
shares in 1901 was also < May 8.
The practical application of the
Redfield-Hines theory of prices
breaks down just when the theory
itself is also becoming discredited.
Business men few months ago
were holding back, refusing to stock
up, because they feared sharp de-
clines in material prices before they
could make their stocks into finished
goods. Now the Federal Reserve
Board says business has resigned
itself to the present price level, and
is starting to go ahead on it. The
belief that prices would stay up was
voiced some time ago by Irving
Fisher, who has no superior as an
authority on money and prices. He
based his argument on the increase
in currency which has taken place
since 1914, and thinks that factor
more important and universal than
"war demand"
New-York tribune., 1919-05-10
May Buy Exchange Through
U. S. Relief Administration

Arrangements have been made, it
Federal Reserve Bank of New York.
whereby dealers in exchange who have
reestablished their banking relations
in Germany, German Austria, Turkey.
Czecho- o-Slovakia and similar countries
IN Central Europe, may purchase ex-
change on these countries from the
American Relief Administration when
ever it is in the market, for remittance
to their correspondents to cover cables.
demand or money orders which thew
may sell directly to their customers
in the ordinary manner withou. re-
strictions.
New-York tribune., 1919-05-10
Advise Caution

After having been unreservedly and
continually bullish for three months
ket and tho instructive confidence in
prosperity which prevails will be jus
tilted We think. Prices of good stocks
should be much higher before the end
Of tho year, but with Congress meet
Ing on May 10, strong opposition in
some quarters to the league Of nations
and the possibility Of further friction
in Europe before peace treaties are act
ually signed, we think that people who
have large profits should take some Of
them Il +. Hutton & Co. -,
New-York tribune., 1919-05-10
Wealth--Markets- Investments
Finance : Economics

wars show that prices did not return
to their pre-war levels until dozens
of years after peace. More substan-
tial of all reassurances, prices now,
with war demand non-existent, after
half year of peace, have declined
only 6 per cent in the aggregate. AS
for the future Of the steel trade
specifically, it is worth recalling
that British steel makers raised their
prices but few days ago, though
they were already higher than those
in America.
New-York tribune., 1919-05-10
Paris Market Firm,

PARIS, May 9.---Prices were firm on
tho Bourse to-day. Three per cent
rcntcs, 62 francs 95 ccntimes for cash.
Exchange on London, 28 francs %
centimcs. Five per cent loan, Ss francs
10 centimes. The dollar ranged from 9
frnncs4 IA confines te 6 francS 10
centimes.
New-York tribune., 1919-05-10
Wall Street Items

,sss ,1ssss'ssSpt 10 the pfestdeYt of the Nercar n :
sis Trust and beDo$t gnm1shy and Iohn
- Se3a WsS appointed assistant secretary
<s1&mss Il JtDnisss vice president OF the
q. 9 *1asA Railroad coDpAu1. has resigned
=" engage In the practice VI Ian,
w H. uaskeH bas been eIeetsd y vico
ssssslnert 81 the International Paper Com
- " WAteys has BEEN e1ecfsd president
3 M ysiAngie Fffn CDrDorAtieb, and III
e.. g. hthsn WAS appointed ehairmAn of the
.syss1a ssyss sisS spfResarapn 81 sEsns Tss hss
Ssfs'sssxsz s*fv h@v f1gf breaches In chAAas
New-York tribune., 1919-05-10
London Promoting
Bank i'm Colombia

WASHINGTON, May 9.--Five Lon
don banks have organized an associa-
tion for the promotion of banking
institution in Colombia, advices from
Bogota received here today said. The
British Colombian institution will be
known MS the English bank and will
branches mt Medellin and Manizeles.
The bank will be capitalized at s10,-
100000.
New-York tribune., 1919-05-10

The above rates express the cost of
foreign money in terms of the Ameri
can dollar. You buy an English pound
sterling, say, at $4.6SA. The intrinsic
parity is s4.685s 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 than the demand in his coun-
try for pounds with which to settle
accounts in England.
New-York tribune., 1919-05-10
--------------------i--a--- -
MEETINGS

THE ANNUAL MEETING OF THE
stockholders of the Standard Gas Light
Company of the City Of New York will be
held at the office or the Company, Room
No. 206. No. 100 East 18th Street. New York
City. on Wednesday. May 14th, 1919. at 13
O'Clock NJ. for the election OF Directors
and the transaction of such other business
may come before the meeting.
JOHN e. SANBORN. Secretary.
New-York tribune., 1919-05-10

ANDREW J. MCCORMACK. Auctionesr.
REGULAR AUCTION SALE
STOCKS AND BONDS
BY ADRIAN Ii. MULLER = SON.
OFFICE, So WILLIAM ST..
WEDNESDAY, MAY IA, 1919,
at 1890 o'clock, at tho
EXCHANGE SALESROOM,
NOS. IA AND f6 VESEY STREET.
For Account of Whom 1t May Concern:
80 shs. Lincoln National Bank
shs. K. w. Bliss Co. common.
26 shs. United States Mortgage 4
Trust Co.
= 1900 shs. Chicago, Utilities Co. Tenn
porary Gifts
$1,000 Chicago Utilities Co. 6& Bonda
10 shs. United Gas g. Sicc. Corpn. ist
prefd.
25 shs. Bond & Mortgage Guarantee
Co.
$4,000 Brooklyn Rapid Transit Co. 81
Notes. due July I, 1918.
$40, 900 Yonkers r. R. Co. LIST Mtg. 81
Bonds, 1916.
10 shs. United Gas & Elec. Corrd. 1st
prefd.
400 shs. Triangle Film Corpn. prefd.
$500 shs. 1nterborough Consolidated
Corpn. common.
1s7o0 shs. 1nterboroughf Consolidated
Corp. common.
New-York tribune., 1919-05-10
Market Opinion
No SiRn of Abatement

We see no sign of abatement in the
present upswing of stocks and the vol
ume Of trading promises to continue
large. Further Improvement was noted
to-day in the copper trade, sales now
totalling about a million pounds day.
Block, Maloney & Co.
New-York tribune., 1919-05-10
DAWSON Back at Desk Soon

H. P: Dawson is expected to re-
sumo his duties as partner in J. P.
Morgan & Co., within the next
month or six weeks. He has been
gradually winding up his work as
mead Of the American Red Cross,
Wnich ne undertook at the request of
president Wilson, shortly after the
United States entered the war.
thomas ". Lamont, another Morgan
partner, who was one Of the financial
advisers at the peace conference, will
return to his deask early in July.
New-York tribune., 1919-05-10
Hailing Congress

Probably the present is the OILY time
business and finance have hailed the
early convention Of Congress with sat
isfaction. 1t is felt that tho railroad
problem will be now handled in a bust
nesslikc fashion, that considerable
Washington influence will be exerted
in favor Of a steel-price adjustment
or the creation Of an open market in
steel and in other products, and that
turn to the old, tried securities from
the metcoric specialties that lately
have had preference. ), Childs &
Co,