davidaulloa/AmericanStories huggingface dataset:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-03-02
Money and Credit

Although looms and discounts Of me
New York Clearing House banks under
went q striking expansion last week,
as shown in the statement issued yes
tcrday, surplus reserves increased $23,.
1856, $50 to total Of 400. Tho
expansion Of $7l 020, 900 in the loan
Item which stood at total Of ST.
s57,b04, 600, was attributed to the rising
volume of activity in tho stock market,
resulting in II marked increase in the
stock exchange loan account. Thia nc
count, it rs understood, Mt tho end OF
the week was tho largest in many
months
United States government deposits
with the backs amounted to $273 $50 900,
compared with $22b 7ll,000 week ago.
Net demand deposits increased $43,.
100000 to SO ,s75 $4,000
The Federal Reserve Bank Of New
York, in its statement as Of the week
ended Friday, showed rediscounts and
advances against commercial paper
amounting to $40, 059,0l1, against $46,-
0l7265 the preceding week. Reds
counts and advances against United
States obligations were Sal ,979 ,06l
against $707 364,309 the week before.
Discount Rates.--Thc 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, 1919-03-02
Finance a. Economics

Little attention seems to have
been given thus far to the possible
effects of the tax~frec government
notes now being considered by Con-
gress. Aside from the question of
fairness to the small subscriber and
Of consistency in government finance
is the question Of practical result.
A few months after we had entered
the war, in June, 1917, when 31a
per cent tax-exempt bonds had been
issued and the first revenue bill had
been drawn up, Mr.. Otto Kahn, in u
letter to "The New Republic"
pointed out that under the income
tax schedule an investor in 6 per
cent taxable securities, If his income
were over 100000 n year, received
only d.20 per cent on his money, and
on down, until, if his income we're
100000 year or more, he got
only 2.2S per cent. Mr.. Kahn then
put it another way. An investment
in 31a per cent Liberty bonds was
thus equivalent to a taxable sccu-
rity yielding SOP per cent for a man
with an income of 100000 or more
a year, and so on up, until man
with an income Of 100000 year
or more received 9.21 per cent.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-03-02
The Dollar in Foreign Exchange

Larger offerings of exchange on
Paris, resulting in an easing off in the
rate, was the principal development in
the local foreign exchange market last
week. Banks attributed this tendency
to selling of francs in anticipation Of
the S1OO,000,000 French government
loan maturity in this market on April
l, which is payable in francs in Paris
or III dollars in New York, at the option
of the holders.
Spanish Iesetas developed strong
tone early in the week, prior to the
announcement that the United States
government had drawn an additional
i5,o0C.000 pesetas against the 100000
GOO peseta credit obtained last year
from a group of Spanish banks.
In local banking circles there is talk
CT an early restoration of free gold
movement. thus permitting the exnort
OF gold from the country. SO far, SEN
timent has not crystalized, although
financial experts generally favor the
lifting of the embargo on gold ship
ments.
Discussing the general foreign ex-
change situation, the American Ex-
change National Bank says "Out of
all the wartime confusion and inter
national comm ~cc should come some
radical Improvement in monetary
standards to simplify the transaction
or international commerce and the set
tlement of accounts. The Far East has
made greater progress in this respect
than have Europe and the Americas
Some specialists in foreign exchange
may find tho existing complicated sys-
tenn to their advantage, but it would
greatly help international trade if
small merchants could ascertain prices
and costs in other countries without
the aid of an interpreter. The league
of nations. if it comes into being, might
very profitably deal with the unifca
ton of monetary standards throughout
the world"
Closing rates yesterday, compared
with a week ago, follow:
Quoted dollars to the pound.)
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-03-02
w ealth-M arkets-Inve sim ents

States of America, in the English lang
uage, at the expense of the forign
government or governments issuing the
same, ad shall be signed by the Am
bassador or an accredited representa-
tive of such foreign government to
the United States having such power.
"That no act Of foreign govern
ment shall relieve the United States
from its guaranty"
Must Return So Per Cent
If the Fill is enacted bankers here
say that the bonds issued would have
to bear an interest rate of approx
matcly "a per cent. Such a rate. it is
believed would attract huge amounts
of investment funds from American in
vestors. The bulk of the bonds would
of course, have to be absorbed here.
The latest figures available show
that the United States has loaned the
following amounts to the Allied gov
rrnmputa.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-03-02
Repercussions

Until it is known how the external
debts of britain, France, Italy and
Belgium are going to be funded 1t will
be difficult to forecast tho future Of our
export trade or TO take hopeful view
of It'll. g. Dcaus, Mcrchanta' Loan
and TRUST ComponN Chico0o.
iowa, South Dakota and Minnesota
are still full Of hogs 1t IL possible n
scarcity Is developing elsewhere, but
never saw Northwestern territory as
hoggy as this season.~D. b. cutter.
Whether for good or for ILL., we have
become the great reservoir of credit of
the word.-Spcncer Trash d Co.
The practice of wartime repression
and self-denial has disappeared. 49, Aicr-
ander Hamilton Institute.
The lowest prices have been passed.
Anderson, Bruins &c Co.
The retail business situation continues
to be very encouraging.-Fed Re
serve Bank OF PhiladclphtaA
The prospects, therefore, are more
suggestive of traders market for the
present than for any genuine bull move
ment.-S. b. Chaplin & Co.
The number of men out of work can
be readily absorbed by the farms and
other outdoor industries when spring
opens up.-National City Bank.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-03-02

ties up to Is days, 4 per cent; 1e to
&c days, inclusive, AZ per cent; CT TO
90 days, inclusive, y per cent.
Bank Clearings.~Ban ccarings yes
terday were:
Exchanges. Balances.
New York. .$714,856,245 500 ,368,4se
Boston ..... 4e,694d47 9,4oo,537
Philadelphia. 5o,85o,e5o 17.44s.5te
Sub Treasury. - The Sub Treasury
gained $4,000 from the banks on
Friday
Silver. - London, 47Md, unchnnred
New York, 101 nc, unchangcd Mexican
dollars, Thc, unchanged
Bank Acccptanccs.-Ra Rates were un-
changed yesterday.
Thirty Sixty Ninety
Spot de- days. days. days.
livery Per cent.pcr ccnt.rer cent.
Eligible
banks a =. .4a@4 4A@4a 4A@4A
Eligible
Der banks 1900 44s@4A 4aa@4ps
Ineligible
bank bilis.5l4 @4lIa 5A@4Ia 5H@434
For delivery within thirty days:
nv. ~ Per cent.
Eligible member banks. 47a
Eligible non-member banks 80. 4Ia
Ineligible bank bills ........6
LONDON, March 1.-Closing: Bar
silver, 47%d per ounce; money, SIS
per cent. Discount rates-Short and
three months bills, 81 1882 per cent
Gold premiums at Lisbon, 67O0
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-03-02
WHY'S i'm u. S. Light and Heat

John N. WHY'S, president Of the
WHY'S. Overland Company, has been
elected chairman of the board of d-
rectors of tthe United States Light
and Heat Corporation. Thia action.
was taken at meeting Of the directors
held early In 1.-THE month. At Wilys
office in New York sterday it was
said that 1t was not known whether
Mr.. WHY'S Ind accepted. Mr.. WHY'S
at present la ut Palm Beach.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-03-02
Cost Of one dollar
The Chilean Financial
Commission Leaves Soon

SANTIAGO, Chilli, March 1.-The
commercial mission to the United
states, which will study general bust
ness conditions in an endeavor to Inn
prove commercial relations, will leave
here on March 10, 1t was announced
to-day.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-03-02
Current

The above rates cXrcBs tho cost of
foreign money in terms of the Amori-
can dollar You buy an English pound
parity is $d.SGHs per pound. Thus, you
say either that pounds are mt dis
count or that dollars are at premium,
which is owing to the fact that in Eng,
land the demand for dollars with which
to settle accounts in this country is
greater than the demand in this coun-
try for pounds with which to settle
accounts in England.
If you calculate the cost of the dol
lar in terms of foreign money at par
value-that is, if you we're buying dol
lars with pounds, marks or francs-its
value at the close of last week, rs COM
pared with year ago, would be about
as follows:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-03-02
Grain Shipments Embargoed

CHICAGO, March 1.-The rnilrond
administration to-day placed on EN- -
bnrgo on shipments of bulk domestic
grain to New York hnrbor points. Ex-
ceptions may be made by freight traf
lic committee.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-03-02
DIVIDEND NOTICES
AMERICAN GAN go.

AMERICAN GAN 90.
quarterly ntfldoud ~ ono and tbree
qusfiefs per cent haas boon declared on tho
Preferred stock ~ this Company, payable
April is,, 1919, 10 .Hfoolfhodrrs Of record
NJ tho close OF huAueaa Msroh lAth. 1ofo'
TrtrHfer Books Will remain opnn. Checks
mailed X II. 1SMON,
Hrcrctary ana TronRurer
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-03-02

Mr.. Kahn then expressed this
fear: "The ability Of corporations to
find ready market for their secu-
rites is prerequisite for the con-
tinuance Of business prosperity, or,
indeed, of adequate business activity.
need not elaborate the effect upon
the comparison of the income yield
from taX-eXempt securities as
against taxable securities under an
excessively high income tax schedule
even if confined to large incomes
must necessarily have upon the
eligibility of corporate securities for
investment purposes. The conclu-
sion seems unacceptable that the re-
sulting degree of Discrimination to
invest in such securities, coupled
with the impulse to dispose of exist
ing holdings, would bring about
liquidation, severe shrinkage in val
ues and more or less pronounced de-
moralization of the investment mar
ket--a condition of things which
could not fail to affect adversely the
country's business in general, and
which could only partially be coun-
teracted by government expenditures,
however large" Mr.. Kahn esti-
mated the total volume of tax-ex-
empt securities then outstanding, in
Guiding the first Liberty Loan, at not
less than $8,00o,00O,O 900.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-03-02

That Mr.. Kahn's fears were not
without warrant was shown by the
markets Of 1917, in which the de-
cline Of stock and bond values on
the New York Stock Exchange was
almost disastrous. 1t would be alb
surd to ascribe that decline wholly
or even mainly to sales for the rea-
son given, but that such sales played
an important part in the decline
there can be little doubt The ques-
ton now is this: Are conditions so
changed that an issue of tax-free Sc
curities will not bring about this re-
suit? The answer that the coming
issues are short term is not ade-
q ate, and may, indeed, prove some
what Of a boomerang. The returns
given in Mr.. kahn's tables, for in
stance. are accurate only on the as
sumption that the rate Of income
iaX1lion will remain IS high during
The entire life Of the bonds and that
Is vastly imptobuble
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-03-02
,-MatuNJ.

The Federal Reserve Bank OF New
York hns put In force the following
aehedule Of rediscount rates which
apply to bankers acceptanccs: Maturi-
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-03-02
Federal Reserve Banks

The Consolidated Statement the Twelve Federal Reserve
Banks Will Be Found in the Main News Section To-day
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-03-02

The total loans to the Allies by the
United States government are $685.
1885,
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-03-02

Below is given the current exchange
value OF foreign money in dollars and
cents, together with the ntrinslc gold
parity, rs calculated by tho United
States Mnt:
Free trader-journal. (Ottawa, Ill.) 1916-1920, 1919-08-16
CIRCUS MAKES HIT
WITH BIG CROWD AT
CHAUTAUQUA PARK

The circus and burleSque concert -
Chautauqua Park last night proved to
be one of the biggest attractions at
tie assembly A large crowd sata.
cred TO witness the performance
over seventY-tiye children took pant
in the parade, and. led by the clown
band. they wendell their way TO tn
large circus ring The chief atttac=
zion OF the circus was the acrCh1tic
performance by a company OF three
boys William Lansing, Guinette John
son and Kenneth Snarr, who, under
the able instruction Of the Mercer
brothers, were able to do some really
difficult feats. Following this was the
concert and burIesque on the chautau-
qua program.
The first number was by the jubilee
singers, Fred prichard, G. W. Chess.
man Mrs John Hon. Isabel Brown.
Anna DeHore Ella SIMMER John Hot
and l.. W Brewer Those who heard
the real Jubilee Singers in their spir
i.ual shouts" and plantation melodiea
tee that this company equaled Ut
even surpassed the original The
next number was the Alice Shrod
company In this Alvin Telford sim
ply captivated his audience TheD
came the CONFERENCE.-The com
pany- William aud Harry Pussy and
Jeannclte Bfuck These young artist
have to be heard to be appreciated
Following this came Ruth ilaeberl,
i'll Il clever Interpretation Of Mickey
The representation OF Raymond
DyDrak was ably doat by Sadie Ford
Dan cupid made his first visible az
pearance in the person OF Iorolhy T..
Lapp. The dunbar Bell Ringers Ear
Snalr, Arnold Gcrdiug ana John Hon
made the hit of the evening and
were forced to respond to many ON
cores.
The program closet with ]. pet.
ton of the circus parade, with IN
oaliope. The platform manager il
thanking the audience for their spleen
did appreciation made very clea
that the attendance OF the same atl
dlence would be greatly appreciated al
the very splendid concert that Is To- b,
given Sunday afternoon ANA cyruinl
by the metropolitan company ar,
urged that he children be brought {,
hear the excellent music Of this com
pany.
Free trader-journal. (Ottawa, Ill.) 1916-1920, 1919-08-16

work, he told Tom LOTUS he had seen
Il pitcher who knocked the glove off
the catcier'S hand every time he threw
II ball. LOTUS acted slowly on the
hint and Pat Tebeau landed Cy for
Cleveland. When he saw cobb down
South he declared the Georgian was
SO fast he should haze been race
horse. TyruS stole six bases In the
game "ASch' saw him work. He rec.
commended his purchase by Cincinnati,
hut Red management eouIG not figure
Cobb In their scheme.
Was Wonderful Backs'op.
Aschenback found long Larry Ne.
Lean up in New Brunswick. He want.
ed 10 send him 20 Chicago, but "Asch"
couldn't raise 500. the price of Lurry's
Release, 50 the deal crumhIed. Larry
finally landed with the Giants. He
was wonderful receiver, but Mclean
did not last long, because he would
not observe club rules. Aschcnback
recommended many youngsters and
practically all of them made good III
their quest for steady jobs in the big
show. and not n few of them really
became toplIners.
Free trader-journal. (Ottawa, Ill.) 1916-1920, 1919-08-16
Gate for Stairs,

Procure Il piece Of heavy canvas
and hem to tit the required space ;
sew snap book to each corner. Place
two screw eyes on each side OF the
hail, one as near the floor as possible,
the other in the width Of the canvas
from lower one. The canvas is read
ily snapped in place on the screw
eyes, forming an effective gate. With
screw In the banis.er the gate can
be snapped out Of the way when the
Riddles are in bed
Free trader-journal. (Ottawa, Ill.) 1916-1920, 1919-08-16

Kidney trouble tends to "sloW up
men and women in middle life and
they fear oncoming old age when it
rs only III" Kidneys that are at fault.
Foleya Kidney Pills assist Nature to
restore a sound. healthy condition
and to banish backache soreness,
lamennss and stiffness w. w Wells,
Tonquin Mich. writes, "Foloys Kid.
ncy Pills make me feel like "A new
man Recommended also for blad.
der trouble For sale by w y. Dun.
can.
Free trader-journal. (Ottawa, Ill.) 1916-1920, 1919-08-16
Swan Sonos.

According to Pliny CNatural His.
tory.') swans. little before their
dentls, sing most sweetlv" and
IT Is from this that the "sWan-song"
has acquired fgurutive use--the
last work Of a poet or musician, COM
posed shortly before his death. To
the Engll'h people of Tennyson's de-
dining days, "Crossing the Bar" was
that poets swan song even as the
music Of "oberon" was the sWan-song
OF Karl Won Weber.
Free trader-journal. (Ottawa, Ill.) 1916-1920, 1919-08-16
Local Notes.

Harry Dawson ana family 81 en-
raeo motored to his els ta~t e'+lti..~
for a few daFS visit ii f#2 @"54i4
Mr. and Mrs, Il mar INK. ~. ....,-
Mrs Ernest Eettefat@ ans A.--....
OF chicago Hr'sHt> 81 .....
nome oil Sf anu ''''
NJ ,,....t.4fa r3. sav.
'ri''' - ,...n, ,..l,.. s,r 5t-rt
r,,tE his sons clarence ana Nouag
Jaa,
M. ava go departed today 3g
K,nsas civ far several dag gi-a
n,th har sisrar Dora
Free trader-journal. (Ottawa, Ill.) 1916-1920, 1919-08-16

fact that he had not yet fully recoy-
cred from injury 10 his head. His
head, he says fairly swan az he
rranhted backward to get under the
looping peIler, ana he was so dizzy
Mat he could barely get his hands on
the bali, TO say nothing of holding 1t
firmly.
Free trader-journal. (Ottawa, Ill.) 1916-1920, 1919-08-16
Red Kuhn Is Policeman.

Walter tRo3l Kuhn former catcher
with the White Sox, who had one eye
pat out when towel was tipped In
to 1t on the training trip in 1918, is
now a policeman in Dallas. They say
he can see more with one eye than
some policemen can with two.
Free trader-journal. (Ottawa, Ill.) 1916-1920, 1919-08-16
AS henback's Record.

OF all the SCOUTS known to baseball
followers there are none who may
boast Of the record held by Ed ASchen-
back, di~coFerer Of Cy Young Ty
Cobb, Nick Altroct. Larry Mclean and
host of others who won places in
baseball'S Stardom. .Aschcnback seemed
to be able To tell the future Of a
player the minute he clapped an eye
on the youn@Ster and he rarely went
wrong when he really became enthused
over a lad
When Aschcnback saw ~ Young
Free trader-journal. (Ottawa, Ill.) 1916-1920, 1919-08-16

To check the spread Of flames In
mine explosions an automatic device
has been invented that scnttprs rock
dust into the rushing air thV precedes
them,
Free trader-journal. (Ottawa, Ill.) 1916-1920, 1919-08-16
What Makes One Oid2

According Ca II koumnnian scientist.
old age is due solely tn Il decrease in
the amount oi water In the human sys-
tenn.
Norwich bulletin., 1919-05-21
ARMY CREW NAMED FOR HENLEY REGATTA

Paris, May 20.-The American army
rowing crew left Paris this morning
for Henley, England. to train for the
Henley regatta on July 4 and 8. Amer
lean rowing headquarters will be at
Green Croft Henley.
The crew is in charge of Captain c.
D. Winan, Yale oarsman who at one
tins assisted in coaching the Yale
eight. The trainer is Major Paul
Wilmington of Harvard, who rowed in
the 1914 Harvard crew at Henley. The
American eight as at present made up
follows:
Lieutenant c. ]. Coe, Yale. bow:
Captain Royal Pullen, University Of
Washington, No. 2; Captain Louis
Penny, University of California, No. 8 !;
Major Paul Wilmington. Harvard. No.
4; Lieutenant. J. Amory Jeffries, Har-
ward No. s.; Major Herman l.. Rogers,
Yale No 6; Lieutenant ]. Howard Nc
Henry, Yale. No. Z; Captain Douglas
Kingsland,' Columbia, stroke. and Lieu
tenant Guy Gale. California, cox
swain.
The other members Of the crew are
Lieutenant Homer S. Brooks. Lieuten-
ant L. E. Maclay. Lieutenant Henry
Peril, Lieutenant Edward Dillon, Cap
tain William Monk and Captain Bill
lings Wilson.
According to reports from England,
crews from Australia, New Zealand, the
British army and the Royal Air force
are in training at Henley. Teams from
Canada and the British. navy are ex-
pected in Henley in a few days.
Norwich bulletin., 1919-05-21
FINANCIAL and COMMERCIAL
MARKET WAS UNCERTAIN.

New York, May 20.-Dealings in
stocks during the early period of to-
days session were relatively dull with
uncertain, prize tendencies, but the en-
tire market strengthened later. fresh
buying being stimulated by the presi-
dents message to congress.
That document, by general consent,
exceeded the most sanguine eXpecta-
tons of conservative interests as well
As the speculative element. especial
~ the recommendation dealing with
the early restoration of the railroads
and utilities to private ownership.
Other features which met with
equally favorable Interpretation in
cluded the suggestion for a partial
repeal of war time prohibition, aboli-
tic j of the tax on retail sales and pro-
lection by tariff of chemical indus
tries.
Shippings and oils provided the mo-
tive power at the opening, Barine COM
mon and preferred. American Interna-
tional, Royal Dutch and Mexican Pc
troleum gaining one to two points,
with several of the standard rails.
Marines soon reacted on unfounded
rurnors reporting delay in the con-
summation of the deal with British in
terests and oils and rails fell back
one to three points. the reversal sug-
costing bear pressure, rather than prof
if taking.
In the broader movement of the final
hour interest converged around mi
nor rails, especially Texas and Pacific,
motor specialties, such utilities as
Philadelphia Company and Ohio Cities
Gas, the latter rising six points and
minor metals, notably United Allow
Steel, that stock advancing IL
points.
U. S. Steel also made it's best price
of 1903 IA later, but that moderate
improvement was cancelled, despite
the higher levels reached by equip
ments. notably American and Baldwin
Locomotives. Sales amounted to L.
325.000 shares.
The general bond market was firm
Liberty and International issues, par
ticularly French municipals, showing
strength. Total sales, par value, were
s13,775,OO0. Old U. S. bonds were un-
changed on call.
Norwich bulletin., 1919-05-21
ARRANGEMENTS FOR OLYMPIC
GAMES NEARING COMPLETION

New York, May 20.-Preliminary ar
engagements for the holding of the
Olympic games at Antwerp next year
are rapidly being completed. according
to advices received from Belgium.
Close to one million dollars has already
been subscribed and this sum will be
further increased during the next few
months.
Contributions to the fund haze been
received from various sources, some of
the larger donations being as follows:
Belgian government, 100000 francs;
city of Antwerp. 100000 francs; Ant
werp province, 100000 francs; firms
and private subscriptions, 100000
francs.
At a recent meeting of the officials
in charge of the preliminary details for
the games it was stated that the Ber-
school stadium can be put in shape for
the international meet in September,
1920, at a comparatively small cost,
At the conference it was decided that
the games would be open to the ath-
: letes, of the allied and neutral countries
only, Germany, Austria Hungary, Bull
garia and Turkey being barred from
competition.