davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1919-08-06
Cotton

Continued excitement caused violent price
movements in tho cotton market yester-
day. An early break Of about 1877 to 147
points from Mondays closing figures was
followed by recovery of $50 to $50
points, but the market then met renewed
pressure and cased off in the late trading.
October contracts closed at 31.45. COM
pared with $3.50 at tho close the previous
day, with the general market closing
steady at a net decline OF 65 to S5 points:
Early selling was even more active and
excited than that OF the previous day.
Weakness Of Liverpool. reports of dmin-
ishirg demand for goods and the failure of
mcnt in general conditions seemed to
increase nervousness of holders Of the
staple. Selling was urgent. and an open
ing decline Of to 40 points soon extended
to 3085 for October. or about Az cents
below the high level Of Saturday morn
Ing. and more than cents per pound
under the high record esta blished iowa rd
the end Of last month, when October sold
at Sc.
Liquidation then subsIded and the mar
ket rallied. 1t appeared that the lower
prices were bringing in some buying for
sspinners account. particularly in Decem-
strength There was scattered south
western selling, supposedly against spot
Uct9ber U fluctuations '~@re irregular.
Trade interests were more prominent buy
ers late in the day. but the last prices
showed reactions of some 80 to 95 points
from the best.
Weather news contained nothing to at =
tract special attention. Reports from
IeXas said that rain was not needed there.
as as heavy dews were keeping the plant
IN good condition. Southern spot market s
were very unsettled and irregular. with
prices rs points higher to l50 points lower
Middling quotations now range from 30 Is
to 34.50 in the various Southern markets
me local market for spot cotton was
quiet and 80 points lower at 3oc for min
ding: no sales
The range OF prices follows:
New-York tribune., 1919-08-06
Butter, Cheese and Eggs

Creamery. higher than extras. Ib 5si m
o5c; extras, 81 score. sic: irsts S. to q,
score score 'l Y q o3l2c; seconds So to 81 score.
higher than extras, s. y @ 5sc extras. IS 10
U5'c; nrsts, $40 sec seconds blM132 t. ~
state dairy tubs finest, 53@53i5c: cood To-
podi'e' Eoni' oVl q - 3sc common to falr, 4oQp
grades 81 q 4s l2c; ladies. current make.
nrsts, As q 49c: seconds 46la nc: lo,yer
grades, $50 idc; packing stock. current
maxi, NO l. 40 y q lie. No :, 46c; lower
grades. 43W45lac.
Cheese. - Receipts 2.as1 boxes: state
whole milk, fresh fats coIored or whita
,o' - q q 81 &c; average run. 3liaQ 32l.c
lower grades, 2JW5lc; twins, specials,
W, whtss n or colored, S2'. q s2s. average run,
SIN; 81 "hoie milk twins. fresh. 31@32lac,
single daisies. white, 33< @33 nc; colored
SS @ 53 nc; double daisies. colored. fresh
Se Or y y SIC; Young Americas, fresh IS "a
prime to choice, 2o@23c; fair to GOOD. Is
Ql9c; lower grades, 7@14c
Eggs-Receipts. 25.s52 cases. Fresh
AN sa,nersa, s =. extras, dozen. "a q o5c extra
o 4oc; undergrades 81 Q43c. dirties. NO
/, 5SQ i0c: No and poorer 36m2Sc.
checks, good TO choice dry. 34@36c. IN
uergrades. 25W SSc, refrigerator special
marks, fancy, buyer assuming storage
ooc' hrsts, ~ Q49c; seconds. 44i4 e1461sc
state pennsylvania and nearby Western
hennery whites, fine to fancy. 67M70c.
tair l TO prime, 55066c. gathered whites.
whites. So 46Sc; other Western and South
ern, gathered whites 40 a sc, state. penn
sylvania and nearby. hennery browns
M Mlancy osg &C; gathered brown and mixed
colors' Graded, fancy 53g57c. fair to
prime, 4o452c.
New-York tribune., 1919-08-06
Copenhagen Bonds Well Received
Money and Credit

Money rates hardened again on the
Stock Exchange yesterday, and borrow
ers had to pay per cent for all-in-
dustrlal loans early in the day In the
afternoon rates eased off, however. to
" and 6 per cent.
The demand for credit for stock mar
ket operations has slackened percent
lbly as result of the decline in stock
prices. At the same time, there has
been reduction in the total outstand-
ing loan accounts, which has greatly
eased the situation.
The ruling rates for money yesterday,
compared with q year ago. were as
follows:
Yesterday. Year age.
Per cent. Per cent.
Call money:
On mixed collateral. 6 5N
On indus. collateral. 6H s
New-York tribune., 1919-08-06
Loan Account Reduced

Liquidation of stocks has resulted in
reduction of the greatly expanded
stock loan account. A number of lead
ing brokerage houses reported yester-
day that their loans have shrunk from
to 10 per cent on the average. In
some cases a reduction Of Is per cent
was reported. This should have the
effect of easing call money rates as the
demand for credit accommodation for
stock market purposes has fallen off,
while the reduction in the outstanding
loan account has improved the lending
position of the banks by just so much
The Federal Reserve Board last week
was said to be preparing to issue an
other warning against stock market
speculation and further expansion in
BANK loans No such warning is neces-
SatV at present.
New-York tribune., 1919-08-06
J.K.Rice. Jr. & Co. .WiilSeIl

400 Air Reduction
u25 American Chicle Com.
80 American Cigar Com.
81 American Cyanamid Com.
SO American Dist. Tel. OF n. j.
100 American Hawaiian Steamship
( 22 American Nanndium
400 Atlas Portland Cement Gem.
25 r.. w. Bliss Com.
so Childs Pfd.
Is Columbia GraphophOne
15 Columbia Trust
25 Franklin Insurance
100 General Baking Com. & Pfd.
25 Great American insurance
400 Great Southern Lumber
so Hooking Valley Railway
10 Home Insurance
so Hudson Co. Gas
100 International & CT. North. Corp.
25 II. w. Johns Manville Com.
so Kirby Lumber Pfd.
so Lehigh Valley Coal Sales
100 Lone Star Gas Rights
so Manati Sugar
100 Michigan Central
so Midland Securities
46 \. Y. Mutual Gas Light
% -Bement- Pond
so Pennsylvania Coal & Coke Corp.
so ROya! Baking Powder Pfd.
100 Singer Mfg. Ltd.
100 500 Line Leased Line Ctfd.
100 Spicer Mfg. 1st Pfd.
100 Standard Paint
25 Texas Pacific Coal & Oil
4 40 L. 5. Fire Insurance
10 Victor Talking Machine
100 Winchester Co. end Pfd
4 30 Wrig Martin Pfd.
New-York tribune., 1919-08-06
State Insurance Dept.
Takes Over Fire Co.
Finds Affairs of New York Ma.
tional Insurance Company
in Precarious Condition

In frecarlOUs Condition
Jesse S. Phillips, State Superintend-
emu OF insurance, yesterday announced
that an order was granted by the Su-
preme Court of Erie County authoriz-
ing him to take possession of the
property and to liquidate the business
OF the New York aNtional Insurance
Company, a stock fire insurance COM
pany, with home Offices st Buffalo and
branch Offices in this city and Scran-
ton. Penn.
The financial affairs of the COM
pany," he said, in public statement,
are IN precarious condition, due
largely to the recent failure of the
North Penn Bank. of Philadelphia,
where the company maintained a large
deposit. The Superintendent of Insur-
ance caused an examination to be made
OF the company, and has since kept in
close touch with the situation. Ef-
forts by the parties interested in the
company to replace the deposit having
failed, the superintendent Immediately
TOOK possession in order to conserve
the interests of the polcyholders and
OF all persons interested.
Because of the inability of the
Pennsylvania authorities to determine
at this time the extent of the bank
defalcation and on account of the COM
plicated relations between the COM
pany and the bank, it is impossible at
this time to estimate the amount which
may be realized. The company was
thoroughly examined by the department
Its total assets amounted to $657, 1884
with total liabilities, exclusive of CAPT
tai stock, amounting to SAB TIT, leav-
ing a surplus to policyholders at that
time of s214,O67."
The liquidation orders provide that
all liabilities on outstanding policies
shall terminate on August ID, 1919,
and policyholders will have no insur-
ance protection after that date.
New-York tribune., 1919-08-06
J:K.Rice, Jr. & &C. .WiIlBuy

Z 100 Air Reduction
25 Aluminium Co. Of America
4 SO American Chicle Com. 4 rfd
100 American Cyanamid Psd.
4 100 American Piano Com. 4 Pr,l
L 25 +. w. Bliss Com.
4 100 Bush Terminal
25 Chase National Bank
\ 100 Childs Co. Com.
b 25 Delaware. Lack. & West Coat
4 80 Federal Insurance
4 25 Fidelity Phenix Insurance
100 Foundation Co. Com.
100 General Baking Pfd.
so Hooking Valley Railway
$50 IngersOll- Rand Com
100 international Motor Truck Com
100 ii. w. Johns Nmnyille Com & Pfd
so IchiEh Valley Coat Sales
100 lord & Taylor LIST Pfd.
500 Mccall Corp. Com
so National Bank of Commerce
\ 80 National City Bank
I %5 n. j. Zinc
Z 80 Nichols Copper
4 100 North River Insurance
io0 rennsylvania Coal & Coke
40 Phelps Dodge Corp,
100 Port IObOs Petroleum Com.
8 30 Port lobos Petroleum end pfd
ioc pyrene Manufacturing
4 =. Rich",ond Radiator Com & Pfd.
90 Singer Manufacturing
III 10 Texas Pacific Coal & Oil
q 700 Thompson Starrett Com. & pfd
20 Victor Talking Machine
T. =, Winchester Co. Com
H 40 Wrig bt- Martin Pfd
J.h.Rice ,.Jr.&CO.
shones 1000 to 1910 John as Wall st.. ny.
New-York tribune., 1919-08-06
Recovery

Stocks acted better yesterday, as
was to be expected after Mondays
precipitate fall. The selling move
ment that broke the list the day before
carried over into the first hour when
many industrials and rails registered
new lows. But after these offerings,
which represented the selling out of
accounts of traders who had failed to
respond to the hurry calls for more
margin, had been absorbed moderate
recoveries took place and the market
regained it's equilibrium. The buying,
however, on the rally was not as con-
vincing as it might have been. Much
Of it represented repurchases of stocks
for the account of traders who sold the
market for the decline the preceding
day. Fresh buying for the advance was
conspicuous by its absence, the gen
eral feeling being that the low prices
for the movement have not yet been
seen.
New-York tribune., 1919-08-06
South America Wants Credit

IN the procession of foreign countries
seeking loans in this money market,
two leading South American countries
have taken places. Bankers here met
yesterday to discuss the applications
from Americas Southern neighbors,
but said that negotiations we're in too
early a stage to make public any de-
tails. The greater part Of South Amer
lean financial needs will have to be
taken care of here, bankers believe.
New-York tribune., 1919-08-06
The Dollar in Foreign Exchange

Francs declined to new low level
yesterday, placing rates on Paris
at discount of 80 per cent. At the
close the dollar would buy 1852 franc
checks, compared with normal parity
of 5.lSM. Bankers attributed yester-
days move largely to short selling.
Marks showed an improved tone, clos
ing at 6,s cents
Z Closing rates yesterday compare as
follows:
(Quoted dollars to the Mound
New-York tribune., 1919-08-06
On the Paris Bourse

PARIS, Aug. 5.-Trading was active
on the Bourse to-day, Three per cent
rentes, 61 francs 25 centimcs for cash:
exchange on London, 32 francs sd
centimes; s per cent loan, 81 francs
IS centimes. The dollar ranged from
7 francs az centimes to francs At
centimes
New-York tribune., 1919-08-06
A Stronger Position

The market is in a stronger position
as a result of the sharp declines in
prices. A break of five points in the
market average could not take place
without wiping out many weak ac-
counts. Whether level has been
reached that will attract new specu-
lative buying is another question: and
the consensus of opinion around the
Street is that it will be some time be-
fore the confidence of the public in
stock market values is restored. There
is a disposition on all sides to go slow
ly in the matter of entering upon new
speculative commitments in the face of
the labor crisis.
New-York tribune., 1919-08-06
Associated Oil Earnings

The Associated Oil Company report
ed yesterday for the six months ended
June 80 last a surplus after all charges
amounting to $2,992,5 ,5S2, equal to s7.48
a share on the 9,96O,704 capital
stock. This compares with s7.97 a
share earned in the corresponding
period of 1918
New-York tribune., 1919-08-06
Breadth of the Market

1t was another broad trading list
yesterday, the market comprising pol
different stocks compared with 3IO the
day before. Dealings approXimated
100000 shares.
New-York tribune., 1919-08-06

sugar. EranuIated, per lb..... 0 7I5
Sokar' ,,oyar Gre,n'ri(usa cen per !b.... 7;Ss 49, 49,
Coffee. Santos No. 1. per lb 500 sOA - -
SuEar.-Condtions in refined sugar
SHOW no change. all refners still being
wlthdrawn from the market and oversold
from TOUR TO SIX weeks. Consequently no
new business is being accepted There
are reports current that new crop Cubas
January shipment. have sold at G25c'
T. o. b. Cuba, which figures about 766c'
duty paid. ''''N'
Refiners still complain of a serious
shortage or raw stocks, and many interests
nave nave round II necessary to operate on
snort time. with a posi- blity Of closing
down later unless the movement Of ra W
sugar again becomes normal within a
week or so Receipts for the week at
Suoan ports increased about 1000 tors,
exports Increased about 2l.O0O tons ana
stocks consequently showed a falling orr
J. ne sugar Eqna lization Board reported
purchases of 1920 tons Porto Ricos
August loading. at use. c. i. f.
weakness in all markets led to a quiet
ana lower market for futures with frst
prices unchanged to decline Of II noints
Later IN the day the market rallied car
rylng prices 40 TO GO points above the
previous close. From this level values
out again rallied at the close with IA trade
interest bidding for December final prices
beng so to 40 poi ints net higher
mere was no Improvement reported in
the local spot demand and prices we're
nominally unchanged at 22c for Rio -
although Rio was disposed to make saIas
out prices were too high to interest buyers
here. u' e' >
The range of prices follow:
New-York tribune., 1919-08-06
Sonora Phonograph Dividend

At a meeting of the board of di-
rectors of the Sonora Phonograp
Corpora ton, held yesterday, cash
dividend of 100 per cent was declared
payable to stockholders of record on
August /, 1919.
New-York tribune., 1919-08-06
Cereals

Wheat.-The outstanding feature of thf
wheat situation yesterday was a reported
conference between the President ana Mr.
barnes in Washington, which the trade
pe4leved would result in a decided lower.
ing or the price to consumers some rn.
mors placing the figure as low as $50
me report caused characterization II
practically all markets. -
AdVices from Winnipeg said wheat cut.
ting was general and there would be
more wheat in that section than many
expected. The visible is now 20 oO3 Ooo
oushels' an increase OF 1868 600 bushels
COrn.-With the exception OF n hrie,
period Of firmness after the opening the
corn market was under pressure ali day
ana In the late afternoon became senu,
tlonaliy weak, showing break of Owe,
cents bushel from the highest fore
noon point and of S1a cents urcler the
previous night. closing only little above
me lowest and from 5i4 to n. cents
below Monday. Ne"'s
The cause for this late collapse in nricee
was the Washington report about a nroh.
New-York tribune., 1919-08-06
Financial Items

James j McCabe for many years a
member of the editorial staff Of .I2r,1
street $ journal and until recently asso-
slated with the business news bureau of
ated with the Investment house of lr,ri
La-.l bert & Co. -
Lawrence Peirson and William Freidav
have been admitted to the Stock txch.n~n
hrlh OF j. Robinson Duff x Co.
The United states Mortgage &. T,,,sr
company Is receiving sealed offers of bonds
TO exhaust the sum OF Sl2.594 received b>.
tnc trust company as trustee pursuant 10
the sinking fund provisions OF the first
mortgage of the Fairlnont Coal Cnnn,n9
The issue of 100000 five-year c per
cent notes of the Waltham Watch Com
pany, which was offered yesterday bv the
National city Company +. Moscev & CO
and the First National Corporation. has
all been sold.
New-York tribune., 1919-08-06
COTTON STATISTICS

Liverpool Cables-Spot cotton quiet at Q
points decline: midling. 1929. Sales, 5000 ;
American. 1000. Imports 10000. Amcrj
can. 1900. Futures opened easy at l2o
to l4o points decline. CLOSED irregular at
net decline of 143 to l67 points August.
1907: october. 1888: December. 20
January, 70 March. 20l5: May, 20
Manchester - Yarns, Irregular; cloths, a
fair business doing
New-York tribune., 1919-08-06

The Federal Reserve Bank of New
York has put in force the following
schedule of rediscount rates, which
apply to bankers >acceptances: Maturi-
ties up to 15 days, per cent; 16 20 60
says, inclusive, Az per cent; 81 to 80
days, inclusive, AZ per cent.
New-York tribune., 1919-08-06
Cottonsced Oil

;,,1uat~, e" VI: II response to ,uIrset tied
-, har "' oe,,ii.ih TONS ana weakness in
, 49,, ny 'e',S ne nark"t vas weak
lower. iS''"'S He
The range Of prices follow:
o ,,., Monday $
o.. N'pe'' II 81 Low close, Close
New-York tribune., 1919-08-06
Canadian Exchange

The premium on New York funds at
Montreal reached AS per cent yester-
day. \Last week it touched high
record of SIS per cent This is what
Canadian interests in need of New
York funds to meet obligations have
to pay. The Canadian firm that bought
exchange on New York yesterday had
to pay approximately $l,046 for $1,000
worth of exchange This situation
arises out of the fact that the balance
of trade between Canada and the
United States is running heavily
against the dominion. Canadian BAN
kers said yesterday that unless the pre-
MUM is reduced it will tend to re-
strict Canadian buying in the American
market; Ordinarily gold would be
shipped from Canada here to correct
the exchange. But Canada has no gold
TO spare at this time. Reports that
another Canadian loan might be floated
mere to ease the situation were denied
IN authoritative quarters.
Copenhagen Bonds Well Received
The advance Offering of the SIS.
100000 City of Copenhagen 515 per
cent bonds has met with good re-
sponse from investors, the bankers
handling the issue stated yesterday.
The loan has created much interest on
the part of the Danish population of
the United States. This is ascribed in
measure to a realization of the possi-
bilities of the development of Copen-
hagen as trade centre for northern
Europe, which have been favorably af
fected by the war.
New-York tribune., 1919-08-06

Southern Spot Markcts-Dallas steady.
so points lower at 3075: sales 35 bales
galveston quiet. 80 points lower, at 81 Is:
sales $50 bales. New Orleans quiet. 75
points lower. at S175: sales 3S4 bales
Moblie steady, Is points higher at 335O
sales, nil Savannah nominal. unchanCed
at $3.50; sales nil Baltimore nominal
zoo points lower at 32c: sales nil August
quiet. 1h0 points lower, at 3lc, sales. 20
bales St Louis steady. unchanged. at
"a So sales nil. Houston steady, 90 points
lower, at 3l.75; sales 7e. bales
COTTON SrArrc,rrrc
New-York tribune., 1919-08-06

Bank Acceptances.-Rate were un-
changed, as follows:
Thirty Sixty Nine.S
Spot de- days. days. days.
livery: Per cent. Per cent. Per cont.
Eligible
member
banks.... 4h@4 4N@4h 436@4h
Eligible
rOn-mGm-
Der banks.4h@4 4h@4N 4h@43a
Ineligible
bank bills.5A@4La 6L4@4L2 5L4@434
For delivery within thirty days:
Per cent
Eligible member banks ...... All
Eligible nonmember banks -. 4N
Ineligible bank bills.
Discount Rates.-The following table
: h.
New-York tribune., 1919-08-06

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., 1919-08-06

Sub-Treasury. The Sub Treasury
gained $1,S7S,00O from the banks on
Monday.
Silver.-London, 561sd; New York,
slOSa; Mexican dollars, S41s@SSA.
London Money Market.-LONDON
Aug. 5. Closing rate for money was
rs per cent. Discount rates-Short
bills, 7-lG0312 per cent; three
months' bills, 3 s-l6a36s per cent.
Gold premiums at Lisbon, 1000.
New-York tribune., 1919-08-06

Bank Clearings.-Bank clearings YES
terday were:
Exchanges. Balances.
New York. $861 ,461,757 $63, ,228, ,18e
Boston ........ 62,264,7 700 12,235,5 ,5O4
Philadelphia =. 70,679784 13,576,375
New-York tribune., 1919-08-06
Sugar and Coffee

Current Year
prices ago
sugar. Eranu|ated, per lb...... 7.45
sugar, centrifugal. per lb..... 7.28 -
Cn' "n't' 10. No 4. per ID. -. 22 8E2
Coffee Santos. No L. per lb 500 3O1l -
New-York tribune., 1919-08-06
Livestock. Meats. Provisions

Y"storuNY Year ago
Live steors
prime 1,--x
Dress 80"
lib 49,
Live 80
mo
lou 49,.
Live "
to
lbs. .....--. ,.A,oaz
New-York tribune., 1919-08-06

Town Clerks Hold Fast
In the last 100 years Dummer.ton
w., has had only eight town clerks.
Free trader-journal. (Ottawa, Ill.) 1916-1920, 1919-11-01
First Clocks Simple Affairs.

The first clocks were simple affairs
which showed the hour alone: then
followed the addition of the minute
hand, and later came clocks which re-
corded the day of the month the
phases of The moon. ANA many other
pieces of information, generally of a
more or less Astronomical character.
During th" sixteenth century, the Ital-
ian and German cloCkmakers, notably
those Of Nuremberg and Augsburg.
made great progress in their art.
There are those who claim that one
Richard Harris, an EngIishmau. in.
vented and set up the earliest pendh-
lum clock some time during the first
four decades of the seventeenth cen.
fury; but this story does not appear
10 be we'll authenticated, and the
honor of introducing the pendulum
seems Ia belong to the Dutchmnn,
Huygens
Free trader-journal. (Ottawa, Ill.) 1916-1920, 1919-11-01
TIE ER'S PAY.

There is shortage of teachers for
inc rural schools. No matter what
the authorities do this shortage will
continue for some time. When a state
seeks To employ teachers at a wage
Nless than that paid to common labor
sers 1t must be expected that few will
he attracted to the teaching nrofes.
ssion: when typist in business of,
stice who can operate a machine after
"a weeks practice. can draw AS much
ssnoney as a teacher who spends years
preparing herself for her work-when
Anny kind of unskilled labor for men
aand women pays as much money as
THE profession of teaching, there will
mot be enough teachers for our rural
schools.
Teachers who have been in the pro.
fession for long time remain at
work; we may say, advisedly, remain
.half-heartedly at work. But there is
a certain loss even from this class
of teachers. Those who might like
teaching turn to something more re.
munerative. and that means they can
turn TO most anything in sight.
J, It is not the public that objects to
paying teachers sum that would
draw the best talent. The blame must
be placed on the school boards who
try to run the schools too cheaply.
Free trader-journal. (Ottawa, Ill.) 1916-1920, 1919-11-01

Tue FREE TRADER.jOURNAL
rs West Main street
FREE TRADER. JOURNAL PIG. CO.
Publishers
TERMS:
DAILY. one year In advance. b.
carrier $500
Daily, per week, by carrier 80. 10
Daily. one year In advance,
by mail in LaSalle county $500
Daily, one year in advance. by
mail, outside LaSalle County $3.50
Entered a. second class matter
Nov. 20. 1916. at the Post Office at OF
tawa, Ill.,, under the Act Of Oct. 3, 1917
MEMBERS OF THE ASSOCIATED
PRESS.
The Associated Press Is exclusively
entitled to the use for republication
of all news dispatches credited to II
or not otherwise credited in this pa
per and also local news published
herein.