davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1919-02-03

The first full week of unrestrict-
ed Stock Exchange loans revealed
at once the folly of those who con-
tended that these restrictions were
holding back" the stock market
and the rightness of the Judgment
of the Stock Exchange authorities
and Of the Money Committee that
their removal would not lead to a
wild speculation. Loans have not
materially increased. Brokers have
not needed them. The range for
call money rates was between 5
and 3% per cent, practically un-
changed from the week before. The
market for fixed date loans of sixty
and ninety days is unusually dull,
because bankers are not willing to
tie up their money for that period
'at less than 51a per cent, and
brokers generally do not like to pay
such a rate when funds can be
obtained from day to day at around
AZ per cent. The movement of
contraction in credit and currency
continues. Demand deposits of the
New York Clearing House banks
fell during the week S44,000,0OO.
And S5,0O0,O00 more Federal Re-
serve notes were withdrawn from
circulation by the New York bank,
leaving s76S, 100000 still outstand-
ing. This falling off in currency
with diminishing trade is in mark
ed contrast to the position of the
Bank of France, for instance, the
currency of which has been in
creasing steadily for the past seven
weeks, responding not to the needs
of business, but to the needs of the
government.
New-York tribune., 1919-02-03
M ar k e ts-Inv stm ents
Urges Definite Price
Policy to Quicken Trade
Foreign Merchants Are Much in
Need of Goods, Says
Manufacturer

A definite price policy that will end
the spirit of hesitation on the part of
foreign buyers is urged by H. S.Demar-
est, a director of the American Manu-
facturers Export Association.
"The worlds markets. he said yes
terday, are depleted and foreign mer-
chants want and need badly stocks of
all kinds of merchandise, but buying is
a present suspended owing to deep
seated Impression on the part of for
eign buyers that a sharp decline in
prices is about to take place.
at is a waiting market at the very
time when our industries, accelerated
and expanded by war conditions, must
exercise to the limit their capacity for
large scale production, because labor
must be kept employed and the de-
modified soldiers absorbed back into
the industrial system without their re-
placing the newly acquired and trained
workers.
"The American manufacturers feel
deeply the Importance OF preventing any
unemployment of labor at this time,
but to do so they must have access to
the markets Of the world to quickly
absorb this unprecedented production,
hindrances and obstacles at every turn.
at is for the safety of the country
that our government aid quickly and
practically the American manufacturer
in reaching foreign markets and itself
take the necessary steps to restore the
confidence of foreign buyers that
present costs cannot be reduced for
some time to come. That should be
done in order that exports may be
facilitated to the end that labor be
kept employed and capital be in g posi-
ton to stand the enormous taxes about
to be placed on it, and at the same tsne
absorb the great Victory loan about to
be issued"
New-York tribune., 1919-02-03
Combine for Export
Trade in Machinery

The Engineers Corporation, sub
sidiary of the j. G. White Engineering
Corporation, it is announced, has be-
come associated with the Factory
Products Corporation, concern newly
organized to engage in the exporting
of machinery, engineering supplies,
hardware end builders materials. The
Factory Product; Corporation is a
consolidation Of the Factory Products
Export Corporation and the Manu-
facturers Agents Company, which have
been engaged in exporting and import
ing since 1894 and 1916, respectively.
The purpose of the new association,
according to the announcement, is to
give both American manufacturers and
foreign buyers the advantages of an
organization which combines technical
specialization with an agency equipped
the new concern are in the United
States Express Building.
Trade connections, it is said, have
already been established in the Ar
gertine, Chile, Ecuador, Venezuela,
Mexico, the West Indies, China, India
the Philippines. the Straits Settle
ments and the Dutch East Indies. The
principal trade of the new corpora
ton so far has been built up in tex
tile and general exports to the River
Rlate, general merchandise to the Far
East and tc the northern end of South
America ard in imports from Vene-
zuela. 1t las established resident
agencies in ten Far Eastern cities.
Bonbrgnt & Co., Inc, bankers, are
the financial agents Of the consol-
dated cOnlun;eS
Walker w. Wick, formerly receiver
general of customs for Santo Domingo,
is president of the new corporation.
Louis e. Stt ddard, Of Bonbright 4
Co., Inc, ard the Marlin Rockwell
Company; George W. Walbridge, of
Bonbright & Co., Inc and Wick .com-
prise the executive committee.
New-York tribune., 1919-02-03
Short Term Notes

Unlisted. tsell cents per share.
New-York tribune., 1919-02-03
State Collects $l,337,789
From Exempt Corporations

ALBANY, Feb. 2.-Exactly $1,337 789,
or one-third of the amount collected
during the quarter ended December
81 from the new 81 per cent corpora
tion income tax, has just been dis
tributed among the several localities
throughout the state, Controller Travis
announced to-day. This money was re-
ceived from manufacturing and mer-
camille corporations heretofore exempt
from any state tax, and in the aggre-
gate shows the latest and greatest
single source of income. Of the pro-
portionate share returned, $614 ,447, was
refunded to New York City without any
expense for collection, while the state
retained $2,762,929.
New-York tribune., 1919-02-03
Canada Still Pays
High for Funds Here
Large Credits to Great Britain
Upset Normal Exchange
Position
Special Corresoondence

TORONTO, Feb. Exchange on
New York continues to sell at pre-
MUM over Canadian funds Of close to
2 per cent The rate has varied be-
tween small fraction above that level
to slightly below The exchange sit
uation has not changed very much for
many months past.
In normal times it was customary
for Canadian funds to sell at dis
count ranging from fraction to J
per cent during the larger part of the
year, but each autumn the discount
vanished, or Canadian funds sold for
a short period at slight premium
over New York. This was the result
Of heavy annual grain movements from
Canada to Great Britain. Normally,
settlements by Great Britain in favor
of Canada for goods purchased in this
country we're negotiated in New York
by triangular process A heavy de-
mand for Canadian funds was created
in New York each autumn.
1t was anticipated that the Canadian
exchange rate would improve in the
fall of 1918 as in former years, but
new situation developed. Britain
has not been settling in New York for
goods bought in Canada to any great
extent Neither is the United Kingdom
paying cash direct to Canada. The
Dominion is lending Britain the money
with which to buy grain, cheese, meats
and other products. Hence no buying
market is created for Canadian funds
in New York, and at the same time
the trade balance between Canada and
the United States is heavily against
the Dominion.
During the last four months Canada
of this came from Victory Loan pro-
ceeds. We're Canada paid in cash for
it's sales to Great Britain during the
last two years, sufficient funds and to
snare would be available for Canadian
obligations in the United States. Our
favorable trade balance with Britain
and with the world is greater by sew
eral hundred millions than our adverse
trade balance with the United States.
New-York tribune., 1919-02-03
Lack of Elasticity
In English Banking
System Criticised
Sir Edward Holden Revives
Discussion of Compare
tive Merits of American
and British Methods
By George w. Glass
NeW York Tribune
Europcan Bureau

NeW York Tribune
Europcan Bureau
Copyright. 1919, New York Tribune Inc,
LONDON, Feb. 2-Active discussion
has been revived relative to the merits
OF the American and English banking
systems by speech By Sir Edward
Holden, of the London Joint CITY and
Midland Bank.
Sir Edward is in favor Of root and
branch reform of the Bank Of Eng
land, Of which he has been long and
active critic. He condemns the Peel
act of 1874, under which the bank
operates, because it makes no pro-
vision or currency expansion in case
OF urgent need, except in means con-
sldered aggravating and injurious by
tradition The official discount rate
must rise to 10 per cent before the
bank can issue new currency unsup-
ported by gold, and, although in equiv
aient amount, this unwritten law NAV
not be without advantage in imposing
restraint
The stipulation is regarded as anom-
alous and alone is justification for
the fepeal OF the act. The latter NAV
not be the best instrument for modern
requirements, but whether this is the
right moment for drastic modification
il questioned by numerous financial au-
thorlties and the committee on cur
rency and foreign exchanges, consist
ing of representatives of a BODY of
bankers and economists, which reported
last year, before the end of the war.and
impressed the need of utmost caution
while the country is still in an alb
normal financial state.
Sir Edward favors vigorous treat
ment in the interest of postwar re-
construction and thinks the latter will
be facilitated and hastened and export
trade will be stimulated if the bankers
are assured Of most elastic currency.
But the currency note act provides
fully for any possible requirements,
although admittedly an emergency
measure, and the pressing need Of the
moment is to effect reduction of re-
drndant credit and circulating media.
The existing situation is entirely with
out precedent. and some approach to
ordinary financial conditions must be
restored before the government can en-
ter upon any farreaching reform.
New-York tribune., 1919-02-03
1857 OF PAR AND INTEREST
All DENVER GAS AND EYECTnrc
COMPANY GENERAL MoRTGaGE
N

10 the holders of the bonds secured nv IN.
General Mortgage of TIE Denver Gas
ana Electric Company, dated NAV /.
1903: 10y l.
You are hereby notified that the Com.
pany intends TO pay off and redeem the
following numbered outstanding General
Mortgage 81 Bonds issued pursuant to the
Denver Gas and Electric Company to the
trust Company of America (The Equitable
rust Company of New York successor by
merger. dated May !, 1903: and the sup
Elemental General Mortgage between the
same parties, dated September i. lsos. ta
New-York tribune., 1919-02-03
n d striaIs

1880 aetna Explos. ~ Tx 7ss+ 81 (,
oos 80 'do pf W i. . s. e3 es rs
13d0 13o0 Am - Bosch Mag e5N. e3Is 81 -
l3V0 B-A Tob coup 25 24Ls 2s l "
- 4oo aoo CITY Service. .2e7 294 297 20
lslo0 la5o0 photograph Pr. e7s sNa ga Va
9a3oo a900 Gen Asphalt. 7oIs coz e3IsA szss
lo3oo 9oo .do pr .1o6 IS 1osaa J. 5sl
q Ego "Gil SAT R i.121 100 121 IL
3a0o 9s0" Havana lob. $50 1Ns
200 Hupp Mot Car. 631 5sL saf a.
1900 Inter Rubber. 1917 1872 .oe 4zS
1876 Keystone & r 61I, 55zS sossN ssss
2300 Lack Co Coal II 1857 81 1S
100 Lake Torp Boat ~, w it, y.
400 Libby McN&N 2oIs 20 20ls- 1+
1000 Marconi of Am 43I a II
1900 MAT Coal & T. 55T 53L, IS l -
300 "Nat Fireprfg IL 7s
1915 @do pf 2OK 1aE *
300 N y Shipbuidg 26 25 o5 TO
1900 Nor A e. p. 3L 3 az H.
1900 "Pearson Coal az oaz az aA
5000 .Ohio City G rts 3 2 2Ls -S
275 Penn Sch st vic 40 3er1 auii. a.
1000 200 "Perfecton R u e 81 7S
3o 31oo Submarine Boat 11e II II u.
S8oo Swift Int wi 1924 4oIa 4:Ia- 1s%
$500 United Motors 365s sS 361s 10
2lo00 Un Prof Shar. IA - ia 10
o950O u S Steamship 81, 25a 1al
2lO Wayne Coal :. 4la 3h sII So
200 World Film 81 j..
1900 SWIM Aircraft asa sLa 3Ls y
700 do pf ...... 65 65 65 3ze
New-York tribune., 1919-02-03

overhanging the market. If the
rate of interest is placed too high
the price of Liberty bonds and all
other bonds on the market will be
depressed. If the maturity of the
coming issue is fixed at only five
years its competition with out
standing issues might not be so
direct. Trading in investment Sc
curities this week was light, and
the price movement narrow. Lib
erty bonds sold from 10 to AZ of
a point lower. A good demand was
reported for French municipal is
sues.
New-York tribune., 1919-02-03
HARTMAN NATIONAL BANK
Fifth Avenue & Forty-fourth St.
New York
sAAkiAe HOURS FROM Q AN. 10 s'p.M.
sNE DEPOSIT VAULTS GA. N. TO MIDNIGHT
-.
WILLIAM CHAMF n SONS SHIP AND
ENGgNE BUILDING COMPANY.

= BfnksnR Fund Notice.
FfUIsLtTT TkEST COMPANY formerly
Ihs ksdsiity fBsnrspes, Trust and Eafe
Dsposlt Company. Trastss under Mortgage
q shr Wlsism egarnp II Fons Ship and
1888, invites teHdsTa Or pr1posals fsr bonds
,ssusd under s@j9 Mortgage 10 t,e. sDrren.
o@fso frr redemption. proposals. 70 be
1919, a. 10 GclDef VI
FIDELITY TRUST coMpAHh
Trustee
VIZ. r, GEHT, President
January 20. 1919.
New-York tribune., 1919-02-03
Curb Market

Note.7-Ihe Tribune assumes no respcns-
olhty Tor the accuracy or authenticity of curb
market quotations. Transactions and prices
lor the week ended February 1 were reported
as follows:
New-York tribune., 1919-02-03
Exports of Dyestuffs Grow

Prior to the war exports Of dyestufs
from the United States never exceeded
in value 100000. but the total value
Of such exports in the fiscal year 1918
was S17,O00,o00. This compares with
Sl2,O 900 in 1917, $1,000, 900 in 1916,
81, 100000 in 1916 and less than $780,
900 in 1914, the year preceding the
war.
New-York tribune., 1919-02-03


prices during the past week was
the earnings statement and divi-
dend declaration of the United
States Steel Corporation. Prior to
that, on Monday and Tuesday,
prices were firm. The effect of
the quarterly earnings, the small
est of any in three years, and of
an extra dividend of only | per
cent, compared with 2 per cent
three months ago, was sharp
break of nearly all prices on the
Stock Exchange, Steel common it.
self losing 3ls points on the fol-
lowing day. After that the mar
ket became firm aain, for much of
the selling Of Wednesday had been
by professionals Of stocks that they
did not hold. They had attacked
the market with the United States
Steel developments as an excuse.
They had to buy back. The ir-
regular trend Of prices after that,
and the dulness and general ac-
ton of the market, emphasized it's
almost wholly professional char
acter. When it rose it became dull.
That meant simply that the buy
ing came largely from professionals
who had sold short; they bought
back on a small profit, and when
they had finished there were few
others to buy. But their later at
tacks on the market were not very
profitable either, and so prices rel
mained in stubborn equilibrium.
One result of this professional
market has been the growth of
large short interest. This is al
ways an element Of strength. The
long continued decline Of prices has
wiped out all the gains following
the armistice. Liquidation has been
very thorough. The earnings of
the Steel Corporation for the last
three months Of 1918, and it's divi-
dend reduction, are in the past, and
have been discounted"
Such factors make for stability
and confidence. While admittedly
there is much that is disquieting
in the present unsettled markets
for the basic commodities, and in
labor unemployment and unrest,
the stock market has had these
factors in mind for weeks and has
responded to them. 1t will be in
teresting to study the separate eff
fects of cutting prices gradually,
as in the steel and copper indus
tries, or, as in shipping, trying to
ascertain the level of the new mar
ket at one stroke.
Meanwhile it remains to point
out that stocks are not yet selling,
nor is it right that they should sell,
on the basis of what they now earn,
or even on what they will earn in
the immediate future. AS, during
the war, it was necessary for the
makers of stock market prices to
keep in mind thaht war earnings
would not last indefinitely, so it is
necessary for them now to keep in
mind the huge earnings and sur
pluses which companies have ac-
cumulated in the war period. Com
panies like Republic Iron and Steel
and Atlantic Gulf Steamship have
accumulated earnings in the past
three years in excess of what they
distributed in dividends, which
more than equal the present mar
ket value of their shares. These
are extreme examples, but many
concerns are in similar position.
The bond market continues to
be influenced chiefly by beliefs ON
the forthcoming Victory loan. If
that loan is not put out at suf-
ficient rate of interest it may have
to be taken by the banks, which
would leave it "undigeste&" and
make of it an unsettling factor
New-York tribune., 1919-02-03

The bond market continues to
be influenced chiefly by beliefs ON
the forthc oming Victory loan. If
that loan is not put out at suf-
ficient rate of interest it may have
to be taken by the banks. which
would leave it "undigestee" and
make of it an unsettling factor
New-York tribune., 1919-02-03
Finance : Economics

FINANCIAL BUREAU: Telephones
lflpune bullding, Beekman 5000
tS4 Beekman S243
The Holly chieftain., 1919-09-25
MAGAZINES MAY
HAVE TO STOP
CONTINUED From Page y

eyitable, and that paper stocks are
already at the danger line.
Mr.. CarvalhO bases the increas-
ed price of paper on the four fol-
lowing things:
'First-the labor cost per ton on
white paper is now $40 against $40
four years ago.
'SecOnd-It takes one ton of coal
to make one ton of paper and coal
at the mill has practically doubled
in price
.Third-The haul on pulp wood
is growing greater each year; like
wise the freight charges.
'FOurth-The six to nine cent
markets of Europe, South America
and Australia are now asking for
Canadian and United States pa.
per-"
Before the war the price of pa.
per was given little consideration
by publishers in figuring publica-
tion costs. Today it is very i'm
portant item. The only way to
meet the advance is for publishers
to secure better advertising and
subscription rates, the only sources
of revenue.
The Holly chieftain., 1919-09-25
GOT OFF TOO EASY.
Two Men Had Attempted Robbery
Of Elder Post Office.

w. B. Gentry and J. w. Stone
brough, the two young men charg-
ed with attempted post office rob-
berry of the Elder post office in this
county morning of May 3Oth. who
later in the day held up Martin
Ford and family and took away
from him the big REQ that he was
driving, pulling off fight at Clay
creek, WOunding Fred Bosley, who
were captured near Two Buttes in
wheat field, after an exciting
chase the same day. were last week
sentenced by the district court in
Lamar to the reform school at
Buena Vista.
The timely chase given the two
by carload of fellows from Two
Buttes, which made the boys aban-
don the car about three miles
north of town, no doubt prevented
them from getting clear out of the
county and possibly from making a
clean escape Having been set
afoOt and surrounded by the host
OF which the posse was composed,
they gave up without resistance
Two Buttes Sentinel.
The Holly chieftain., 1919-09-25

ed with 100000 bushels last year
and l,950,OO0 bushels in 1917. The
condition of the bean crop for the
United States on September l was
1928 per cent of normal compared
with 76-2 per cent on September |
last year and an average condition
on September of 1917 per cent.
Broom Corn.
Reports of county assessors indi-
cate about 1900 acres devoted to
broom corn in the state this year,
compared with $1,000 acres last
year. Production is estimated at
4,O1O tons. compared with $500 tons
last year. Weather conditions in
the southeastern part of Che state,
where broom corn is chiefly grown,
were favorable and the condition
of the crop is good. The broom
corn crop of the United States is
placed at $500 tons. compared with
5000 tons last year, and an aver
age of 57.400~tOns for the past ten
years.
Applss.
The condition of the apple crop
in Colorado on September l was 66
per cent of normal, compared with
so per cent on September last year
and an average condition on Sep
tember of GA per cent. This cOndi-
tion figure indicates production
of 2,839000 bushels this year. COM
pared with l.845OO0 bushels last
year. The apple crop for the Unit
ed States is estimated at 153,OO0,0OO
bushels, compared with 1921 .,0OO
bushels last year and an average
annual production Of 198,O00,0OO
bushels.
Peaches.
The condition of the peach crop
on September was 20 per cent of
normal. compared with 55 per cent
on September last year and an
average condition of 81 per cent on
September l. The quality is placed
at "a per cent of normal The esti-
mated production is 100000 bushels.
compared with $4,000 bushels last
year and an average annual prOduc.
tion of 100000 bushels. The con-
diti0n of the peach crop for the
United States on September / was
69.6 per cent OF normal, compared
with 45.9 per cent last year and an
average of Sc per cent on Septem-
ber l. The indicated productionn
is 50,435OOO bushels, compared with
81, 1880 bushels last year.
The Holly chieftain., 1919-09-25
CONFERENCE DECEMBER ..
Planned for Gathering Of Inde-
pendent and Liberal Voters.


Calling upon independent and
liberal voters to meet in nation
al cOyentiOn to be held in st. Louis
on December 9Th next. the Com
mittee of Forty Eight, with head
quarters at Is East FOrtieth Street,
New York, has issued statement
discussing the present political
situation, and denying that there
is any hope of real reconstruction
program from either the republi-
can or democratic patty.
Delegates from all OF the forty
eight states will attend the confer
which will consider tentative
platform, dealing with social, eco
nomic and political issues. At this
conference, the advisability of form
ing q new political party will be
discussed, as well as the coalition
of the committee with newy formed
labor and farmers organizations.
The committee was formed last
March and now has representatives
in each state.
The Holly chieftain., 1919-09-25
DR.. Leonard Moves to Coolidge.

DR.. A. w. Leonard of Plains has
sold his farm there and last week
moved to Coolidge, Kas., where he
is now permanently located and
will give all his time to the practice
of dentistry. The doctor put in a
hard winter on his place near
Plains last winter, losing nearly all
The Holly chieftain., 1919-09-25
Putting Up Large Barn.

Contractor q. w. WhitcOmb is
erecting large modern dairy barn
for T. NJ. Amerine 32x4 feet ON the
latter's ranch 25 miles south of
Holly and near Webb. When COM
pleted this building will be the
best plant of it's kind any where
in the sOuthside country.
The Holly chieftain., 1919-09-25

Mail Carrier Harry OKane sold
his jitney last Saturday and had to
fax around some to procure.
transportation facilities in time to
carry his mail out Monday.
The Holly chieftain., 1919-09-25

his cattle as a result of the heavy
snow storm and inability to get
feed to the stock during the exces-
sive cold and heavy snow.
The Holly chieftain., 1919-09-25

/ am now permanently and com
fortably located for business one
door north of P. V. Ritter & Sons
Grocery Store.
The Lake County times. [volume] (Hammond, Ind.) 1906-1933, 1919-01-30
EAST CHICAGO AND
IND. HARBOR NEWS

awaiting hearing on the charge o
samblin<