davidaulloa/AmericanStories huggingface dataset:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-02-22
u. S. Banks Demand
Return of Funds
Seized by Germans
Want Balances Taken by
Huns From Belgian Banks
in Original Form and
Seek Government Aid

Wall Street banking institutions
whose balances in Belgium we're seized
by the Germans when that country
was invaded in 1914 have made rep
reservations to the authorities in
Washington asking that the present
German government be compelled to
make restitution of these funds with
interest. 1t is estimated that the
total of such balances amounted to
around s2,0OO,0OO
The German authorities took the
money, which was in the form of
Belgian francs, and transferred it to
Germany, crediting it to the Ameri-
can banks in the form of German
marks on rather unfavorable ex-
change basis. When the United States
came into the war the balances were
contiscated by the German government.
One of the local banks which has
asked the United States government
has urged that the balances be re-
stored in their original form of Bel
gian francs.
Fred l: Kent, director of the For
eign Exchange division Of the Federal
Reserve Board, has undertaken the
task of compiling an accurate state
ment of the amount of all such Ameri-
can banking balances in Belgium at
the time Of the German invasion. A
statement issued by Mr.. Kent says
that enemy occupied Belgium terri
tory has been restored to it's own
government, and it has been found
that balances of American institutions
with Belgian banks have been taken
over hv GERMANY
To enable proper checking and as
sure the delivery to the alien prop
erty custodian Of correct statement,
Mr.. Kent has asked dealers in foreign
exchange to furnish his department
Immediately with detailed statement
of balances which are owed them from
enemy territory in the foreign moneys
of the country, including that part of
Belgium which was occupied by Ger
many, and giving the names of the
banks and institutions with which the
funds we're on deposit.
At the same time the exchange deal
ers here have been asked to include
in their statement for the alien prop
erty custodian balances held here for
enemy account, even though they may
have been previously reported. The
foreign exchange manager of a large
Wall Street banking firm said yes
tsrday that German bank balances held
here were much in excess of the
amount of American balances seized
by the Germans so that the Ameri-
can interests will be able to obtain
satisfactory settlement in any event
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-02-22
Wall Street Items

A. R. Horn has been appointed finan-
cial vice president of the Equitable
Life Assurance Society.
A. E. Lindhjem, assistant cashier of
the Midland National Bank of Mime
apolis, will become scandinavian rep
rcsentative of the Irving National
Bank on April Is.
Cyril Fl. Burdett. vice-president of
the New York Title and Mortgage Com
pany and of the American Trust Com
pany, was added to the board of
directors Of the Metropolitan Casualty
Insurance Company.
Charles W. Willard has been elected
senior assistant secretary of the Cen
eral Chemical Company. Thomas F.
Burgess was appointed assistant secre-
tary to succeed f. H. Nicholas, re-
signed.
A temporary loan of 100000 has
been sold by the city of Northampton.
Mass, to bankers at 402 per cent in,
terest to follow and premium of Sc.
The loan natures November 20. 1919.
John Farson, of Farson, Son & CO.
has been elected II vice president and
a member of the board of directors Of
the Hercules Petroleum Company.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-02-22
New Loans to Belgians Likely

Using the s50,0oo,oo0 acceptance
credit recently obtained from power
full American banking group as an
entering wedge, strong Belgian inter
ests, backed by their government, are
planning to negotiate much larger
loans in this market. The aggregate
is expected to run we'll into the hun
dreds of millions and the proceeds
will be used in the purchase Of
American raw materials.
A member of a large international
banking house stated yesterday that
Belgium is in a position where she
will be able to liquidate such loans
inasmuch as she is certain to receive
a large indemnity from Germany.
Bills against the S5O,OO0,0oO credit
granted the Belgian banks are not yet
being drawn although the arrangement
has been concluded excepting for a
few contirmatory details.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-02-22

Labore rose % per cent in the twelve
month period ending on December 81
III the Two years that ended on that
to 46 per cent and for the four vear
period wages mounted 14O per cent
One per cent fewer workers wera
employed in the state in last Decem-
Der than November, but the aggregate
or wages was 6 per cent larger the
departments survey shows.
mat the aggregate decline is NOT
more marked, the department bulletin
says, is explained by the character
OF the gradual readjustment TO nre-
war conditions which makes possihie
ply" '"'o' sup
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-02-22
Action of Copper Shares Sunrise

The rise in the copper shares vester-
day after the publication of the Utah
Chino and Ray reports, showing de,
ficts for the December quarter after
payment of dividends, was the subject
of much interesting comment after the
close Of yesterdays market. The con-
sensus Of brokerage opinion was that
the recent selling in those stocks had
more than discounted the unfavorable
earnings. In other words, the shorts.
when they found that prices refused
to .recede after the reports were made
public, thought it the better part of
wisdom to close out their commit
ments. The operations of these ;ndi-
viduals, it was generally thought. af
forded the main reason for gains
ranging from one to three points in
Anaconda, Inspiration. Kennecott, Chi
no and Utah -
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-02-22
The Wrong Conclusion

Just before the close yesterday,
when the stock market was fairly boil
ing, word came from the Federal Re-
serve Bank of New York that an elm
portant statement" would be given out
at $3.50 o'clock. Although it had no ef-
feet on prices, some folks jumped i'm
mediately to the conclusion that the
statement had to do with the money
committee. When it did come out the
statement proved to be an announce
ment that had been issued at Wash
ington earlier in the day telling of a
new S500,000,000 issue of Az per cent
United States certificates of indebted
ness. The money committee ended its
labors, much to the relief of many
Wall Street persons, in january, but
the rising wave of speculative activ-
lty in the stock market has suggested
in some quarters the possibility of a
revival of money market control in the
event of too feverish speculation in
stocks.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-02-22
Canadian Mission Studies Trade

The Dominion of Canada is taking
steps to have its traders appear in for
eign markets as unit. New lepisla
tion to achieve this will be introduced
in the approaching session of the Cana
dian Parliament. The government has
already created the Overseas Trade
Mission, which s,to ascertain the needs
of foreign governments and purchasing
missions engaged in preparing for re :.
construction, and also generally to en-
courage industrial cooperation and ex-
pansion at homo. The mission is now
planning study of comparative costs
of the leading producing nations of
the world.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-02-22
Where the Buying Came From

How much of the buying of stocks
yesterday came from outside sources
ana was tor the long account, and how
much came from professional quarters
and representing covering of outstand
ing short commitments, was a question
much debated during the day in Stock
Exchange houses. Commission houses
reported an excellent inquiry for
stocks, which was taken to mean that
the public was again trying hand at
the speculative game. But at times
the aggrcssivenes of the movement of
prices suggested that shorts who had
not already covered were displaying
increasing nervousness.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-02-22
Commonwealth Edison Report
For 1913 Shows Larger Net

The annual report of the Common
wealth Edison Company for 1918 dis
closes total operating revenue of $685.
5,136, an increase of S1,153,551 over
1917. After depreciation and expenses
had been deducted, net aggregated
$9,563,110, or S839,407 more than for
the preceding year. Gross income
amounted to $7,068,020, an increase of
$259,393. Balance after interest as
$4,936,47O, or equal to 1919 per share
earned on the S5O,422 900 capital
stock. During 1917 the company
earned 1927 per share. Dividends
totalling $4,OO3,S24 we're divided
among the stockholders, leaving 8
surplus for the year of $902,646.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-02-22
Money and Credit

Despite the increased speculative ac-
tivity in the stock market, necessitat-
ing an expansion in the Stock Exchange
loan account, loans and discounts Of
the New York Clearing House banks
actually decreased $17,o84,oOo to s4,-
'so'ss6,ooo In the week ended yester-
DAY. Net demand deposits at the same
time increased ss5,s27, 900 to 1881
$4,000. United States government de-
posits declined from $2s4.Ss2 900 TO
1926 $4,000.
There was sharp drop in surplus
reserves, that item falling 1858 $40
to s18,821, $40, the smallest total in
more than year
The Federal Reserve Bank Of New
York reported yesterday for the week
ended February 20, showing redis-
counts and advances against CONNER
cial paper amounting to s4s,e17.2s5,
compared with s51,449,135 a week apo.
Redfseounss and advances against
United States government obligations
~sre S7o7 1864, 1909, compared with s751-
yl,z72 at the close Of the preceding
week. Cold held in the banks vaults
and TO its credit in the gold settlement
fund at Washington amounted to $685.
Sb2,si1, compared with 1882 $3.50, 1879 a
week ago.
In spite Of the continued activity
and strength in the stock market, rates
for call loans yesterday showed de-
ehning tendency The ruling rate Of
IN per cent Tor loans on mixed col
lateral was maintained, and that was
also yesterdays renewal rate, but the
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-02-22
British Insurance Men
Deny Hurley Charge
Assert That There Has Been
No Discrimination i'm Ma.
rine Risks

New York representatives of the
leading British insurance companies
issued yesterday a vigorous denial of
charges that they had been discrim-
mating against American ship owners
and shippers in the matter Of marine
insurance. A statement was given out
by Herbert Appleton, of the law firm
of Appleton & Co., attorneys for
the British companies, for the purpose,
he said, of correcting the false i'm
preston which evidently has been
made through a communication pur-
porting to emanate from Chairman
Board, and Senator Duncan u. Fletch-
of Commerce."
The statement made on behalf of the
English companies said:
"First.-The charge that there is dis
elimination against American ship
owners and shippers in the matter of
marine insurance rates is without
foundation.
Second Those who are respon-
sible for the charge that marine in
surance rates in New York are domf-
mated by the British companies must
be unaware of the fact that the an
nual report of the New York State In
surance Department of June, 1918,
shows that by far the largest part of
all marine insurance placed in Amer
lea on American vessels and cargoes
is placed with American companies, the
management of which is absolutely in
dependent of foreign influence.
"Third.-The English companies rep
resented in the United States are per-
mitted to do business here only upon
complying with all the requirements
Of the insurance departments of the
various states in which they conduct
business, and the successful conduct of
their business in itself necessarily pre-
cludes any such discrimination as
would seem to be indicated by the re-
marks made"
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-02-22
Former Trader Given Ovation

When Major G. Beekman Hopping
appeared on the floor of the Stock Elk
change yesterday, following an absence
of over year in France, he was given
an enthusiastic ovation by his fellow
brokers. Major Hopping. who is a
member of the firm of Mabon e. Co..
served with the regular army at Bel
leau Wood, where took place some of
the bloodiest fighting of the war.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-02-22
New Tax Stamp on Sale

Eugene M. Travis. State Controller,
announced yesterday that there have
been placed on sale by the Empire
Trust Company new stock transfer tax
stamps of $500 denominations This
stamp has been put out for the con-
yenience Of brokers selling large blocks
OF stock Previously the largest dcnom-
nation Of these stamps was $40.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-02-22
Bargain Hunters Miss Ont

Stock Exchange houses sent out a
great deal of optimistic literature on
the stock market outlook last night.
Although many firms advised their
clients that reaction might be ex
pccted in view of the sustained rise in
prices in the last week, they also ex-
pressed, the belief in a number Of
cases that the market has definitely
turned Tor the better. If that proves
gain hunters" has completely missed
it's market
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-02-22
S. S. Kresge Sales Larger

For the year ended December 81,
1918, S. S. Kresge Company, who
operate a chain of five and ten cent
stores in the East and Middle West,
report gross earnings of s36,309, 5l9,
which compare with $30,090,7O0 for
the year before. Net earnings were
S1,700,999, from which preferred
dividends Of $4,000 we're deducted,
leaving a balance Of s1,56O,OOO, or
equal to $3.50 per share against
S17.20 per share earned in 1917. Com
mon dividends totalled 100000, an
increase of 100000. Surplus was
$1,06O,999.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-02-22
Cuba Cane Financing postponed

The decision of the directors Of the
Cuba Cane Sugar Corporation in post
ponng the sale Of $25 200, 900 bonds re-
Gently authorized by the stockholders
came as a surprise to Wall Street, as
IT was generally believed that plans
for offering the bonds had been about
completed. The official announcement
stated that the company is in no i'm
mediate need of funds. 1t is thought
that the matter will be taken up again
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-02-22
DIVIDEND NOTICES
W YORK TRANSIT COMPANY

NEW YORK TRANSIT COMPANY
26 Broadway, New York. FEBRUARY p, 1919.
A Dividend of -Four Dollars per share
has been declared on the Capital Stock ~
this Company. payable April IS. 1919. to
stockholders of record a the close Of busI-
ness March %. 1919.
All communications regarding payment
or change of address should be sent to
the undersigned not later than April S.
1919.
GEORGE CHEsEBRO, Secretary.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-02-22
Oppose Removal to Washington

The executive committee of the
American Bankers Association at a
meeting yesterday voted against the
proposal to remove the headquarters
of the association from New York
to Washington. This action was taken
despite the fact that referendum
sent out to all the members returned
a favorable vote.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-02-22


slight decline Federal
while the of
last
lows
RESOURCES
Feb eli.
$347764OOO
Gold 4573890oo 437278oOO
5S29OOc
Total gold held by anks..... ss14a5ooo s7eos7tooo
Gold 1197983OOo 2173o3OOO
Gold redemption fund 11292o0oo 11111oOoO
$2.125O4tooO $211e347Oo0
Legal tender silver, 06491ooo 6597 GOO
Total reserves ......... s21e1532ooo s21s5,31sooo
Bills discounted Secured by u. OBJ
legations Observation-Disclosures. 15eo4ssoco 1eoso52ooo
All other ACKNOWLEDGEMENTS. 22t9e600O goo
Bills Gought market. 1o9920OOo Sfoo0oooo
Total bills on hand .. s2csss74ooo s2111,sesooo
United 201O1O00
United States 14723Ooo 1412O4Oo0
other earn assets.
earning $22ea5eeooo s22s127aooo
100000
ems
cent redemption fund against Fed,
Reserve Bank 100000 o842OOO
All other resources e.4ooUW 'uoooVoV
Total resources ... s511se2ooo s51e452aooo
LIABILITIES
Capital paid n............... st4oeooo ss1211ooo
surpus 227ssooo 22a2sooo
2o5675ooo 1s2eoooo
1,56392Ooo 6231s8ooo
Deferred availability 4oV2o wv o.'IEoOoo
Other deposits including credits 4Ioooo 31|ooo
Total cros. ds,osns s2se46o2ooo s244e,27ooo
Federal 24ooVo 4oooooo
Az as s is1;t,: 80 sS 's 9S77a GOO
Observation-Disclosures.
Ratio Federal Reserve note b
ties combined 522 SIG the before
Ratio of gold Reserve actual circulation
liabilities 643
638
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-02-22
RelevantC Comment
The Small Frv Trader

The so-called "small fry" trader has
been an important factor in the mar
ket during the last week He has been
a buyer Of stocks, the odd-lot market
having shown balance of trading on
the buying side. The amount of stock
bought exceeded by about Is per cent
the amount sold in the odd-lot market,
according to competent authority.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-02-22
Current
exchange Intrin sic

The above rates express the cost of
foreign morcy in terms Of the Ameri-
can dollar. You buy an English pound
sterling, say, at $4.75%. The intrinsic
parity is s4.S6% per pound. Thus, you
say either that pounds are at dis
count or that dollars ara at premium,
land the demand for dollars with which
to settle accounts in this country is
greater than 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, 1919-02-22

figure closed at AZ per cent, compared
with 6 per cent Thursday. Loans on
all industrial collateral were x per
cent higher.
The time money market displayed q
better demand, with a fair volume
lending at 5iz per cent on mixed col
lateral.
Yesterday. Year ago.
Per cent. Per cent.
Call money:
On mixed collateral 5Ia Holiday
On indus. collateral Holiday
Time money (mixed collatcraD:
Sixty days ...... 5M@5Ia Holiday
Ninety days ..... 5A@5Ia Holiday
Four months ..... 5N@5E Holiday
Five to six months 5L4@5Ia Holiday
Bank Acceptances.--Rates were un-
changed in an unusually dull market
yesterday.
Thirty Sixty Ninety
Spot de- days. days. days.
livery: Per cent.Per cent Per cent.
Eligible
member
banks -, .4A@4 4A@4A 4A@4A
Eligible
non-mem-
Der banks.4A@4 4s@4I4 4aa@4A
Ineligible
bank bills.5N @4Is 5I4@4La 514@434
For delivery within thirty days:
Per cent.
Eligible member banks. .... 4ia
Eligible non-member banks. 80. 4H
Ineligible bank bills. ........... 8
Discount Rates.-The following table
gives the current rates OF. the twelve
Federal Reserve banks on Commercial
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-02-22

London Money Market.-LONDON,
Feb Enclosing: Bar silver, 47a4 d
per ounce. Money, 3h per cent. Dis
count rates-Short and three months
bills, 1882 per cent. Gold premiums
at Lisbon, 67.00.
Sub-Treasury. - The Sub-Treasury
lost s396OO0 to the banks on Thurs
day.
Silver.-London, 47%d, unchanged;
New York, 1sc, unchanged; Mexican
dollars, 7712c. unchanged.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-02-22
The Dollar i'm Foreign Exchange

Exchange rates were maintained on
a fairly firm basis in a dull market
yesterday. Swiss francs we're shade
easier.
Closing rates yesterday, compared
with a week ago, follow:
Quoted dollars to the pound.)
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-02-22

Nominal.
Below is given the current exchange
value Of foreign money in dollars and
cents, together with the intrinsic gold
parity, as calculated by the United
States Mint:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-02-22

The Fedt raj Reserve Bank Of New
York has put in force the following
schedule of rediscount rates which
apply to bankers acceptances: Maturi-
ties up to IL days, per cent; 16 to
so days, inclusive, Az per cent; 81 to
80 days, inclusive, ~ per cent.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-02-22

after the Victory Liberty Loan has
been hoated.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-02-22
Dividends
Extras

Extras
Chcsebrough Manufacturing Com
pany.-Extra dividend of so cents ner
share, in addition to dividend of So
per share, both payable March 20 to
stockholders of record March /.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-02-22
Corporate Returns
Public Service Company of Northern


Public Service Company of Northern
lllinois.-Gross earnings for the year
ended December 81, 1919, were s9,2l8,
1874, an increase of $421,119 over the
previous year. Net was 1882, $50, an
increase of $144,499 Surplus after
charges amounted to s1,84s,233, from
which preferred dividends of s456,2s9
and common dividends of $685., 662 were
deducted, leaving a balance of s555,2sl.
After depreciation of S438,234 surplus
was S116,956.
Columbia Gas & Electric Company
January gross 80. 81 1886 Dec sss.lA
Net after taxes. 1927 Inc. i5,e3
Surp. aft. charges. 435.1o9 Dec. 1855
Southwestern Power Light Company
December gross g. . s571 1913 Inc. s114,57t
Net earnings 49,. 233.022 Inc. 53.1o4
y months gross 1851 1892 Inc. 1.o14,454
Net earnings 49,. e, 1o2,S46 Inc. 1915
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-02-22
New York Employment Report

Aggregate wages in New York, ac-
cording to the State Department of
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-02-22

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, 1919-02-22
M a r. k 9 ts-Inv estm ents
Federal Reserve Banks

WASHINGTON Feb Deposts in Federal Reserve banks
Federal
falling while the
threetenth of
weekly with week follows:
The courier-index. (Marianna, Ark.) 1917-current, 1919-12-19
WHAT is SAFER THAN FLYING

There are $500 young men who
were trained as aviators in our
camps. In their training they trav-
eled 60,000,0O0 miles. There was a
casualty for approximately every
100000 miles travelled.
Do you think you could beat that
record with a fiivver? The question
is not asked by the writer, but was
asked by the officer who had charge
of aviation in the American army.
Incidentally he says the use of the
parachute has added greatly to
safety in flying. Also he says the av-
iator likes jumping out of machine
so much that orders have to be issued
against use of the parachute except
in case of real need.
All this makes it appear as if the
airship is coming on and one of these
days it is going to be as safe as any
vehicle devised by man.
The courier-index. (Marianna, Ark.) 1917-current, 1919-12-19
NOTICE OF THE INTRODUCTION
OF A BILL TO THE SPECIAL
SESSION OF THE ARK
ANSAS GENERAL
ASSEMBLY.

Notice is hereby given that a bill
will be presented to the called session
of the General Assembly of the State
of Arkansas, which convenes on jan
uary &c, 1920, for passage. The
substance of this bill is to create St.
Francis-Lee County Road Improve
ment District No. L, in st. Francis
and Lee counties, for the purpose of
building a gravel road leading south
easterly from Forrest City, by way
of the Linden Road" to the w. T.
Casteel place; thence easterly to the
st. Francis river near the "Cut-Off,"
and westerly to Haynes; and to or
ganize said district and to empower
its commissioners to sell bonds for
the purpose of building said pro-
posed road.
(Signed) w. T. Casteel, w. S..
Hughes, j. j. Hughes, Jr., and others.
(343)