davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1919-02-17
Trades Offer Field
For Former Troops;
Clerks Not Wanted

WASHINGTON. Feb. 16-Thousands
who desire clerical occupations are an
economic drug on the market. The
placement division of the United States
Department of Labor recently an
nounced that it had no difficulty what
soever in finding places for all men
who had skilled trades, but that the
majority of applicants for placement
were young men who desired clerical
and semi-clerical positions, which are
the least paid of all the occupations
listed.
number of newspapers have com
mented on the fact that young men dis
charged from the army, and especially
country boys, do not want to go back
to the unskilled labor and consequent
small compensation on the farms, and
they IN great numbers arc joining the
ranks of thousands who desire to be-
come office men, work behind counters
and the like.
Realizing this surplus, the Federal
Board for Vocational Education in re-
training disabled men endeavors, where
possible, to induce the men to take up
the skilled trades for which they may
be fitted, even though they may have
suffered impairments.
BY giving man a specialized educa-
tion and training in shop, works or
factory, and supporting him with
an allowance of S65 per month while
undergoing training, the board realizes
that it is making his industrial future
secure, and when those who have been
injured as he has, but who have no
skilled knowledge, are probably be-
ing supported by their relatives or
occupying homes for disabled soldiers,
or peddlng pencils on the streets in
the years to come, the man who has
taken the retraining course will be an
expert in his line, drawing the high
wages obtained by such men.
The status of the man retraincd as
skilled worker Is secure. He is a
respected and contented member of
society, asking no favors and not
weighted down with the feeling of in
feriority and dependence inevitable to
those who are not able to make their
way upon their merits. The Federal
Board for Vocational Education. at
Washington, is anxious to get in touch
with every disabled man who desires
to better his condition.
New-York tribune., 1919-02-17
Production of Oil
Rises in January
Work of Drilling for New
Wells Most Active in
Texas

The oil fields of the country Welded
more fresh oil in January than in De-
cember but showed a loss in comple-
tlons of new wells. In the first month
OF this year the oil fields covered bv
the monthly survey conducted by "Thc
Oil City Derrick" completed 1873
wells, with new production of 148.-
167 barrels.
Whereas the loss in completions
in these fields amounted to 45s. COM
pared with the previous month. the
fresh oil obtained shows an increase
OF 1927 barrels.
All the divisions" "The Derrick"
says, report fewer new wells. or
small increases, and in most districts
thls IS attributed to the winter sea
son and the extremely bad roads. In
some fields the highways were in such
shape that the cost of moving material
was excessive. and not few were inn
passable. This condition was common
10 every division. none escaping tho
troubles that usually come at this sea
son. In the Gulf Coast the situation
was aggravated by excessive rains. and
also IN North Texas. The increase in
ne" production was furnished bv Ok
iahoma, North Texas and Louisiana.
as the other divisions showed either
losses or slight gains. The loss in
competitions was common to all the
fields ''N
Among the completions were 351
dry holes and 149 gas wells, the totals
showing decrease of 1O2 and 20 re-
spectlyely. Subtracting these from the
total leaves 1,073 productive oil wells
This is one of the smallest numbers
reported for many years. In December
thus figure was 1,407 and in November
1908. which was the smallest record
for 1913. The high record for last
year was 1878. in June.
THE close Of January showed 6.229
rigs and wells drilling. which was
loss of 1877 from the December report.
The largest gain in new work was in
the North Texas field and most of the
other divisions showed a decline. The
weather conditions are believed to be
responsible for this loss. AS compared
with January. 1918, the figures for the
present report show an increase of l.
40l in the total of new work"
New-York tribune., 1919-02-17
Says Extra Session Is
Needed for Reform Laws
Cuggenheim Believes Congress
Must Act on Many
Vital Problems

Inc American Defence Society an
nounced yesterday the issue Of q nam
phiet by William Guggenheim, one Of
us honorary vice presidents, dealing
with national and international prob-
lens OF America. The pamphlet, en-
tltled An international Peace Court
and Our Relations Thereto" covers
questions which Mr.. Guggenheim saws
VIII require an extra session of Con-
gress to settle, but he sees in the near
luture the restoration of normal neace
conditions throughout the world.
Among The problems enumerated nv
Mr 'uggenheIm are tariff modification
TO AFFORD greater protection to Ameri
can industries, adoption of a plan of
railroad owners by private owners.
modification or repeal of the anti-t trust
laws and expansion of the merchant
marine.
"Naturally," he remarks. "readiust-
ments in trade and commerce are not
proceeding with entire elimination Of
bitterness and strife, and it was not
IT, Teasohable to suppose that they should.
lhere are still many difficulties to be
encountered, but in the near future
there Is every reason to believe that
normal peace conditions will once again
prevail throughout the world.
We may confidently feel" he adds.
that President Wilson has in mind tn q
needs of the hour, and that speciaI
session of the new Congress will be
promptly called by him. The problems
that believe to be of grave impor-
tancc, requiring immediate attention.
are:
.Ihc adoption of plan for the oper-
alton OF our railroads under private
ownership, with government direction
and supervision.
"A plan for the successful operation
and expansion of our merchant marine
"Moditication of our tariff laws to
give greater protection to our indus
tries, unless transportation rates both
on land and sea are assured material
reduction.
Either the repeal of or modifica-
tIons of the Sherman antitrust law
enabling large corporations to continue
to exist.
"The authorization of the Victory
Loan at such rate of interest and with
such tax exempt features as will assure
It's success.
Il admit that all of the above prob
lens are stupendous, but they are light
compared with the tasks that we have
met in helping bring to a successful
conclusion the world war"
New-York tribune., 1919-02-17

In every trading day last week
the stock market advanced, and
United States Steel common stock,
which fell to S814 on Monday morn
ing, its lowest price in ten months,
closed the week at 917 The ad-
vance has been widely attributed
to "technical' conditions within the
market itself. Professional op-
orators had sold stocks that they
did not own, hoping to buy them
back at lower price. They had
sold in anticipation of definite
items of bad news-the decrease in
uncompleted orders on the books
of the Steel Corporation, the poor
American Can Company annual re-
port. The news in each instance
was as bad as they expected it to
be, and yet the market went up.
The anomaly is explained simply
by the fact that the number Of
stocks which has been sold short
exceeded the number which actual
holders were discouraged into sell
ing upon the appearance of the
news, and the short sellers found
themselves compelled to buy.
But this technical position" may
not explain everything. It's effect
on prices endures for only a short
period. 1t accounts for only the
smaller ripples. There is an ex-
planation more fundamental.
New-York tribune., 1919-02-17
Quarter Stamp
Only Initiation
10 Thrift Society
Spirit of War Saving Pene.
trates Darkened Recesses
of Sing Sing; Commuters
Become S'Stamp Fiends''

" no arc the war savers of America ?
accurate data which would consti-
'ute an answer to this inquiry have
never yet been compiled, but an an.
proXlmate reply would be "evervbodv y
2o-cent thrift stamp is the on1v in
'tlatlon fee to the informal society of
war savers.
IN Sing Sing Prison there is thriv-
ing War Savings Society. The men
who are to be released in 1924, the wear
"hen the new stamps mature arc cs
peclally active among the lckers of tho
stamps of thrift. They are insurino
themselves in this way against the
hardship which comes from leaving the
institution with merely suit of clothes
and the small allowance from the state
with which to embark on the great ad
venture of being honest.
The Salvation Army is inculcating
the idea of thrift in its members
through Victory and forward war
savings societies" Twenty-Five mem.
bers of the army recently renorted
that they had purchasd S439 worth Of
stamps to help complete payment Of
the JOB of setting the world free from
the menace of kaiserism and aqQres.
sive militarsm. GO
Churches Invest Funds
Churches have found wav of bolr-
ing the country and at the same Tine
nelp1ng themselves by investing funds
IN Liberty bonds and war savings
stamps. Moreover, the churches have
encouraged the formation of war saw
lngs societies among their congrepa-
IONS. Ihe War Savings Society Of the
Ihroop Avenue Presbyterian Church
OF brooklyn. composed of 1872 members
bought S2,280 worth of stamps in
twelve months. III
employees of some of the largest bust
ness organizations in New York have
formed war savings societies.
The practice of organizing war COW
ings societies has spread ranidlv and
many individuals purchase stamns 700
ularly without formally affiliatine them
serves with a government savings in
s''tutlon. The conductor on the 7:f1
III from Mamaroneck decides that he
VIII start society. For the most nart
M ms passengers are commuters and take
the same train each day. Thev are
ous'"ess .' men OF New York, who work in
me IN city and live with their families in
Westchester County bordering Iong
Island Sound. Each week on certajn
day he goes through the train With
stamps. In the beginning some of the
men buy stamps merely because he asks
them to and they want ''to helm out .
Eventually many become "stamp fiends. ~
Savings Pools Recalled
The war savings societies are in a
sense a revival of the organizations Of
workmen in large industrial corpora
tlons which in years past had vogue
IN New York. The members of these
pools for savings, for that is what thew
we're, commonly held a number of
snares OF stocks in the pools, upon
winch they paid an assessment each
week In some instances the money in
me pool was put out at interest, and
"hen the pools were distributed. once
or twice year. the members got not
only their money back, but also diyi-
dend.
New-York tribune., 1919-02-17
Third of State
Direct Tax Paid
New York City's Share of the
First Instalment Was
S2.84O.876

ALBANY. Feb. Practically one
third of the states direct tax for the
current year, aggregating s13,272 ,069
and payable Saturday, has been re-
ceived. Controller Travis announced
tonight. OF the total amount to be
collected in two more installments,
due April Is and May Is, s8,812,5OO
goes for the payment of interest on
the state debt; s4.394,085 for the sink
ing funds for their redemption at
maturity, while $685. ,483 is for the sup
port and maintenance Of the govern
ment.
OF the total amount received for
the first installment. New York City
contributed s2,84O,876, divided as fol-
lows: New York County, $1.766.936;
Bronx, S237,049; Kings, s6O6,273;
Queens, S198, ,458, and Richmond, s32,-
New-York tribune., 1919-02-17
FINANCIAL MEETINGS
AMERIC,N BANK NOTE CONF

AMERICAN BANK NOTE COMPaaS,tie.-.
The Annual Meeting ~ the sto.h s'.'.' iii
Of the American Bank Note Coinp@.' vsa
be held al its Office, ~ Broad $50 ,.h Ssv q.
March. 1918, at II o'clock \. NJ 'tS,,or. for NJ.
purpose of electing Boa'd Of .i'l, pllsc.g.a s,ca
for the ensuing year and transact'i,ls ,.so',ef.
other business as may properly pe .ss5ericx
and voting upon the approval snd Fst'A.tS ~ ne
ton Of the acts ana proceedings 81 can.
Board Of Directors and tNecu'iNs. q
mittee since The last annual ',,5uts
Stockholders. as set forth in the nee. ,,,ss.-
Book. which viii be presented 70 the - 'iT fs.
ine ana be open to the inspection e'
Stockholders. ,. .-srsfs,
The referred and common stock k,,.,'r,sry n~-,ry
books will be closed At p VI. fe" n.
II. 1919. and remain closed until u A go
'' GEO. II. DANFORTH seofs'@'s'
New York, February j.. 1919
New-York tribune., 1919-02-17
Attitude of Labor
Handicaps Britain
In Foreign Trade
Want Continuation
of Paradise Enjoyed Dur
ing War and Refuse to
Recognize Economic Facts
BY George w. Glass
Ncto FORK Tribune
ENrODeCv p,.

NctD FORK Tribune
EuropeOn Bureau
copyright. 1918. New York Tribune 1nc>
LONDON, Feb. Lett is recog-
nlzed here that a certain amount of
resentment has been aroused bv the
british embargo on manufactured
imports, but as heavy purchases are
possible only on borrowed money
ana there are immense surplus war
stocks here doubtless purchased
largely in America awaiting liouida-
ton, the policy of restriction is NOT
unnatural. In normal times the OK
ternal trade debt could be trusted in
due course to crente credit. since
trade must finally balance. but the
wholly exceptional circumstances
now ruling operate against SPEEDY
return of free exchange.
British export capacity is far be-
low the value of necessities which
must como from abroad. Under the
best circumstances that can be hoped
tor British indebtedness to America
Will be further increased before anv
substantial attempt can be made TO
overtake it. The struggle to renav
promises to be tense and the atti
tude of labor portends a very unhill
fight "p"'''
1t is not yet recognized that it is
impossible to maintain in peace tho
workers paradise which existed dur
ing the war. Some labor leaders ad-
E!t the hopclessness of perpetuating
g system which drags up prices and
"; 2es IN successive stages, leaving the
few better off and the majority With
out benefit. But other leaders support
tie perlous doctrine that sa,vation can
be achieved through increased wages
and reduced working hours, iustifvinp
tnelr demands by pointing to the high
pronts realized by manufacturers dur
ing the war and to the great cost of
living, emphasizing that without ex-
trcme action concessions are always
scanty and grudgingy given.
The Premier and other members Of
the government. during recent parlia-
mentary debates. made great efforts
to focus attention on the economic
realities, particularly on the menace
to the country's competitive power
IN foreign markets if manufacturing
costs are raised above the general
standard, but labor has shown no i'm
mediate disposition to listen to rom
son.
New-York tribune., 1919-02-17
Wall Street Items

William c. Wilson has become asso-
ciated with the firm of Finch & Tar.
bell as IA general partner.
The firm Of John p. White & Co. has
been dissolved. John r. White and s
K. Taylor have formed copartnershin
under the name of Taylor e. White and
wall deal in stocks and bonds.
=. M. Lehman has sold his New York
Iotton Exchange membership to I. r.
Lowenstein for $4,000.
circular on Pan American Petro-
ieum Company is being issued bv
Chandler Brothers q On w
New-York tribune., 1919-02-17

Everything else in the invest
ment market continues to be over
ahadowed by the coming Victory
Loan and the intimations of it's
terms. Secretary Glass's request
that Congress authorize $1O,0O0,-
100000 instead Of the present re-
naming authorization of only a lit
tie more than $5,000,0OO,0O0
helped partly through misntcrpre-
tation to make the Third and
Fourth Liberty 4hs fall to new
low records for the year. There
is, further, the factor of uncer-
tainty, for if Congress allows the
New-York tribune., 1919-02-17

The Federal Reserve notes of the
New York institution now outstand
ing total about $78O,OOO,OOO.
against 100000 a week ago.
The figures are interesting because
the volume of these notes has been
declining steadily for the past two
months. Total commercial paper
against which the notes are issued
was $S35, 100000 at the end of the
week, compared with $753, 100000
in the week before. The banks
rediscounts and advances during the
week against commercial paper
were more than $51,OOO,OOO.
against S49,OOO,0O0 in the week
previous, but the slight gain in
commercial borrowing here was
more than offset in acceptances,
of which only $50, 100000 were
bought, against S64, 100000 in the
week before. The state of the Fed
eral Reserve Bank is not a reliable
index of commercial borrowing,
because its purchases are not made
direct. They reflect not only COM
mercial borrowing but the needs
of the New York district member
banks.
New-York tribune., 1919-02-17

The only significant change in
the money markets during the last
week was the stitfening in call
money rates, which rose to G per
cent for mixed collateral loans for
the first time since the money pooI
was dissolved. This advance in
rates has not come through an in
crease in stock market activity.
which has been negligible, but from
demands upon the New York banks
for funds in financing the govern
ment. The increase for the week of
S90,000,000 in loans by the New
York Clearing House banks prob
ably reflected these Treasury de-
mands. 1t was more likely that
than commercial borrowing, for
while the gain in government de-
posts came to only about S15,-
100000, demand deposits against
other borrowings increased only
$49S,OOO.
New-York tribune., 1919-02-17
WILLIAM CRAuP & SONS SHIP AND
ENGINE BUILDING COMPANY.
Sinking Fund Notice.

Sinking FUND Notice.
FIDELITY TRUST COMPANY forinsr.s e'.,
The Fidelity Insurance, Trust ard ss.s
Deposit Company. Trustee under ); Mor'ssssg sss
of the William Cramp * Sons snip o.
Engine Building Company. dated Me,on s. 4.
1899, invites tenders CT proposals for pon.' gra-'
issued under said Mortgage 10 be SUIT
dered for redemption, proposals 10 >.
opened and awards made on fepruSi' -
1919. at l2 o'clock NJ
FIDELITY TRUST CoMPANl.
TRUSTEE.
525-331 Chesinut St. Philadeiph'~
WM. p. GEST. President.
january 30 1919.
New-York tribune., 1919-02-17
NOTICE OF ELECTION or DIREcTIo,b..

NOTICE Is NEREBY OIV p - ~
meeting and adjourned meeting p'i,sing
Stockholders of the johnson snip ~ vi
Repair aud Dry Dock COMPANY inc vnnl.
be held at the oalco OF the CompaanS.s Wsr.
Der Is Broadway. IN the eorongh, 90 IN ~
haitian. in the city Of Ne" o,A' ~ is.
County and state Of New York vi un ~
24th day of February ials. Al Cen,eet.s.
o'clock P. NJ. for The purpose 81 ~ ca Sssf.
Seven CA Directors Tor the ensuing en,s.,l'.isoa 90
and Two 90 Inspectors ot E.g, sie
for the transaction Of such other eus.is as,Irs
as may properly come before sa,d N sri
Polls viii open a. 80 o'clock I y
remain open until SSe O osioSoNSa
GILBERT JOHNSON. Pfes'"'''
HARRY ZASIOEF. Secretary.
New-York tribune., 1919-02-17
Harris, Forbes & Company
Pine Street, Corner William, New York
Curb Market

Note.-The Tribune assumes no responsl-
bty for the accuracy or authenticity of curb
market quotations. Transactions and prizes
for the week ended February Is were reported
as follows:
New-York tribune., 1919-02-17

You are hereby notified that the Com
2any intends 20 pay off and redeem ;fs
following mum bered outstanding General
Mortgage 80 Bonds Issued pursuant to ths
terms Of the General Mortgage Of IN.
Denver Gas and Electric COMPANY to tho
trust Company OF America eThe Equitable
Trust Company Of New York, successor hv
merger. dated May !, 1903. and the sup
Elemental General Mortgage between tic
same parties. dated September /, 1906 20
New-York tribune., 1919-02-17

Secretary the freedom he asks in
fixing interest rates and other
terms the financial community will
not know definitely the terms of
the loan until just before its f1ota-
ton. The Secretary has indicated
his intention of waiting until that
time before deciding.
New-York tribune., 1919-02-17
Last week there were further

Last week there were further
reductions in the wholesale COM
modify markets. Prices on semi
finished iron were cut Is per cent.
Copper even at its new 18-cent level
is not selling we'll. Yet the stock
market advanced. That may not
mean that the decline in stock
prices in response to readjustment,
which has been going on nearly four
months, has definitely come to an
end. But it points to the con-
clusion that as stock prices were the
first to decline in response to the
termination of war, so they will be
the first to stop declining. They
may advance even in the face of
further declines in the commodity
markets.
New-York tribune., 1919-02-17
Mining

Sales. High. Low Last chpe
1850 tAl-Br Cot NJ. 80 80 So 2
li1o .Amer Mines. "a Il
1900 Ariz Bin Cop. ,s ~
$50 'fAriz Butte. 81 40 so
2r7oo *tAtIanta .... AZ 3Ia 4
j 1900 Big Ledge Cop q, "a
10000 Boston Mont 4s 45 IS
100 Butte-N !, 4, -
! 2900 'tCaledonia NJ. 81 29 80
14l00 'Calumet & J - In 90
1000 Canada Copper 2,S 2Ia
$500 'tCnndelaria s 60 81 80
200 fCashboy ..... t.
$500 Ser S NJ & NJ TIA ia a.. /,
1000 Cons Arz SIN. / Il in ia
1000 Cons Cop Min. 5Hs 5l4 san q,
1900 Cresson Gold. s 4aa Az /,
$500 Fl SAL Silver. Va IA Ia
%loo 'Eurckr CIR NJ. II, H., ~,
1905 : Florence Silv 80 IS "
1900 'tFortuna Con 35 SO IS
$500 Golden 4 M q, \, A., 1.
$50 fGoldfeld Con 20 ts 20
aS2n0 Golden & Exp 3aa 2L, a., --
$500 |tGold Merger. S So Iy
1000 *tGrcat Bend 3H, 81, Sin- l.,
New-York tribune., 1919-02-17

In any great change in the level
of commodity prices, the first
prices to move are those of Sc
curities. The security markets look
furthest ahead; it is their function
to foresee the future. There is
no custom to restrain the fux of
prices; it responds instantly and
dellcately to the play of supply and
demand. Other prices do not move
so fast. There are costs of pro-
duction to be considered. Wages
determine costs of production, and
wages are slow in moving either up
or down because they are fixed by
custom, or by agreements lasting
over definite periods. An advance
is resisted by employers, and when
reductions are necessary employers
hesitate to make them in the fear
of strikes. The prices of retail
articles are determined largely bv
custom. We are used to paying
certain price for suits, shoes, hats,
theatre tickets, table d'hote din
ner, the daily bottle of milk. We
do not know the cost Of production
of these things, but when their
price is increased we become angry
and talk of "profteering" That is
why the sellers Of these things hes
itate to pass the increase on to US.
But once the increase has been
passed on, and the public has be-
come accustomed to paying the new
price, and costs of production fall,
the retailers will keep their prices
up for long time, because the pub
lie is used to it, and what they lost
at the beginning the retailers in
tend to make up at the end.
New-York tribune., 1919-02-17
fSame week last year,

Japuary I 60 date:
Stocks
Jan. 1919 Full year
~ date 1913
High. Low. High. Low.
~ Railroads. 1880 1910 1918 se.12
70 Industrls. .sA.s7 1920 e3.sa 1881
~ stoeks.. .7932 1872 s4.0s 1890
Bonds
- Railroads. .sz.aO SOsg ss.57 1852
- Jndustr1z. o4.2O s3.72 D4.o3 s7A0
1sUtiIitics.. .e7.75 24.72 e9.02 e2s0
New-York tribune., 1919-02-17

rnr ANNUAL MEETING oF, THE 1ssorpers- sapsrs-
holders Of The ENamins'i'"S ss -
ton WIN he held 81 its oflise. l,tap. ~" s1y
change Place. Borough ot Msn.S. M'Ssv MarcR
s. 'I isia in al - oclock noeu. for lsr t,s and
ton Of directors ror the ensniin,g. ,hsuusinss'
Tor the transaction ot such otnei ona ,aeetlpsl
aa may nroperly come before tne n,sry. ,nusy
WILLIAM S. HOOD. see's'e.. .