davidaulloa/AmericanStories huggingface dataset:
The sun., 1919-02-11
CURB TRADING HAS
IRREGULAR TONE
Active Call for Independent
Oil Shares Develops During
Afternoon Session.

An irregular tone marked trading in
the outside market yesterday, In the
early part OF the session stocks were
under outside and professional selling,
which caused declines from to 3 po!nas,
but around midday an active demand
developed for eome of the higher priced
Independent oil stocks. Dealings in the
oil stocks. however, were Of a profess
sional character. and in the afternoon
little business was done In the group.
Houston Oil gained more than 3 points.
with subsequent reaction OF 1 point.
and Royal Dutch advanced about =.
General Asphalt was stronger IN eyInpa-
thy. but trading was unusually quiet.
The Standard and other oil stocks were
dull ard Irregular keystone Tire and
Rubber featured the Industrial list. show
ing loss at one time Of almost . paints
az the result OF heavy profit taking.
Motor and war stocks showed small and
mixed changes.
Mining stocks were dull. with the eX-
ception OF some OF the silver shares.
Florence Silver advanced TO new high
ground after the announce ment OF an
Initial dividend declaration.
Bonds were dull, with weakness in
the Russian Governments following the
denial that the Soviets would assume
responsibility for Russ.a's debts. There
was trading for the first time In the new
Swift & CO. notes.
Total sales and range o. prices follow:
The sun., 1919-02-11
The Belgian Credit.

A. that remains for the completion OF
ne S50,0O0.000 acceptance credit to Bel
sun merchants and banks is the receipt
ot eonhrmatory cable from Belgium.
ne terms Of the credit were completed
yesterday morning. The cost TO the Bel
t.1ns VIII be per cent. the New York
,Ehd!cate, composed OF the Guaranty
- .S' company. j. p. Morgan & Co, the
.Ai.'nal city Bank and the National
hanH ot Commerce, getting one-half OF
per cent, and participating banks Ga
yer cent. The credit will be used for
pIrcnases In this country. the drafts
He'nE drawn on Belgian merchants, ac-
so2,rd by Belgian banks and reaccepted
by banks In the United States. Then the
iapT is rediscountable at lie Federal
reserve Bank. The paper will run for
i'hety days with the privilege OF three
.,eHewais. Tho whole transaction lie sim
..ir 70 the French Industrial credit OF
NVgQO0.o0o extended in 1915 by a
slhd'eate headed by Brown Bros. a Co.
shd the Guaranty Trust Company. with
ne credit of 100000 extended 10
Heglum by the United States Treasury
mo The British credits Belgium's imme-
va needs have been cared for ad-
touately.
The sun., 1919-02-11
BANKERS DISCUSS
MEXICAN FINANCE
Nicto Speaks on Rehabilitation
Of Monetary Affairs in
Mexico.

Rafael Nle;o. acting Secretary of
FINANCE FOR Mexico. yesterday attended
me tirst OF II series of conversation
luncheons with New York bankers rela-
tive TO the rehabilitation OF Mexican
finance At the gathering was a MEM
Der OF the firm of J. p. Morgan & Co.
and representative OF the National
Association for the Protection Of Ameri-
can Properties in Mexico. The CONVEX
sauon to-day will he between Mr.. Nleto
and an Equitable Trust Company official
No definite steps toward tho nego-
tiation OF loan to Mexico were taken
yesterday and none we're contemplated
as Mr.. N'eto explained that he was here
on an expedition of inquiry II is I'M
deTstood that Mr.. Nicto gave the impress
sion that the Carranzista or Constitr-
tionahst Government of Mexico was in
the saddle TO stay permanently and that
American interests In Mexico would be
placed on u better footing when the
Mexican Congress convenes in April
Mr.. Nieto told the bankers, IL is under
stood, that Mexico wants to reconstruct
its finances, particularly with reference
to combined debts Of $4,000, 900.
The bankers are said to have ex-
planned 10 Mr.. Nieto that under present
circumstances, outside OF a small loan
secured by American collateral similar
to that for about S?,5o0.oO made
good while ago by the Equitable Trust
Company. and which was amply Sc
cured by satisfactory collateral, no loan
would be made
To enable the contamination OF any
loan, 1t was pointed out that a Joint
committee TO supervise customs would
have TO be appointed and that IL any
new money was provided the United
States Government would have TO guar
antse or underwrite the loan Having
heard Mr.. Nietos presentation OF the
current Mexican situation. the bankers
are understood to be awaiting the arrival
OF Henry D. Fletcher. Ambassador to
Mexico. in this city this week from
Washington.
The sun., 1919-02-11
CERR0 DE PASC0 DIVIDEND.
Regular Quarterly VIII BE Paid
but Extra Not Announced,

TIE regular quarterly dividend Of 81
share WAS declared yesterday by the
directors Of the Cerru de Tascu Copper
Corporation on the capital stock. but
the extra dividend Of % cents, which has
been paid for every quarter since De-
cember, 1917. was eliminated. The an-
nouncement was rather unexpected. as
the directors were not scheduled to meet
until Wednesday. But inasmuch as
"Wednesday this week is holiday n
special meeting was called for yeste--
day and the dividend action taken. The
dividend is payable March 1 TO stock OF
record February -.
No official statement IN connection
with the dividend announcement was
made, but it is understood that uncer-
tainty regarding the copper industry and
necessity for conservation of cash re-
sources for time were the chief reasons
for not making the extra disbursement.
The sun., 1919-02-11
CLOSE TRANSFER BOOKS.
H"atst"red Liberty 3ds Records
Not Open Feb. 10 10 March IT.

The Federal Reserve Bank Of New
DIX announced yesterday that the
rars'er books for the registered bonds
- 'Ne Third Liberty Loan will be closed
A. The end Of business next Saturday and
WI not be reopened until March J.. The
statement adds:
During such period no transfers Of
'es stored bonds or exchanges OF regis
ir'sd and coupon bonds Of this sort will
IA permitted. No exceptions can be
made and as the bonds must actually
40 ~ t.e possession OF the Treasury De-
,2r'n'Dt, Washington. on February Is.
.t.' u" transfer and exchange of Third
merry Loan registered bonds presented
~ '1e Federal Reserve Bank OF New
"" after the close Of business Febru-
.,F -, 1919. Will be withheld until
March -. 1919,
Coupon bonds OF the Third Liberty
:"d" presented to the Federal Reser,,
.a'N OF New York for registration after
F'otuaTy ~ must have the March IS,
1919. interest coupon detached.
The sun., 1919-02-11
SAVED ROADS $34, 2Sa, 2s2.
regional Director Reports for the
Lines In Northwest.

CHICAGO. Feb. l0.IR. II. Ashton. re.
sional director of Railroads for the
Northwest. in his annual report for 1915.
made public to-day. shows that s342s3..
ss2 was saved In operating lines under
ms control as II result OF publications. and
economies due TO Government manage.
ment.
director Ashton pointed out that in
unincation OF terminals ninety passenger
"nu iSo freight stations were closed.
we round n great many Industries
were served by two or more railroads. d"
Said tne report, "in some cases as many
as nineteen different railroads serving a
pant or a district solely for competitive
reasons and with great waste. When
ever II has been possible or practicable
tnis mas been eliminated. and switching
HI single industry confined to one line.
by elimination OF unnecessary pas
senser trains 23.2S0.400 miles were
saved last year a reduction in operating
cost or about 81 a train mile.
considerable traffic moving over ex-
remeiy long routes must have been
handled with loss when figured In the
total. All Of these plans have not been
IN erect sufficient time to determine
their ultimate economies"
The sun., 1919-02-11
CONTINENTAL CAN REPORT.
Net Earnings for 1913 Equal
A13.S0 a Common share.

Earnings OF the Continental Can Com
pany for 1918 were considerably below
those OF 1917, according to the annual
report published yesterday. The net
earnings were s8,72S,269. against $4,531.-
369 In 1917. and the surplus after all
charges for depreciation, taxes, &C, and
after preferred dividends were allowed
for was equal to st3.s6 a share on the
common stock. against S2e.Se a share for
1917.
Charges for depreciation were III
creased from 100000 to S629,225 and
the reserve for taxes was advanced $780,
900 to 100000. Preferred dividends
virtually were unchanged. but the COM
mon dividends were more than $500, 900,
against s450,000 In the preceding year.
The surplus after all dividend deductions
we're made and the regular annual pro-
vision Of S165.0 900 for preferred stock re-
demption was $Ss7.01s. against S2.32l.-
400 In 1917. The surplus at the end OF
the year was s6.123.25s. but was reduced
to 32.623,2bs by the declaration OF n 35
per cent. common stock dividend, the
cost of which was 33,500,000.
The sun., 1919-02-11
ARGENTINE GOVERNMENT
& Ink>rral CalJ v1.- 1ono

M'ssgs. ]. p. Morgan 4 GO. hereby giy,
notice that they are prepared 10 recsI, !
Tenders for the amortization. on or hefoI :
March ~, 1919. Of s3l3.l1o Argentine golS
pesos, say f6:,S2n nom!na' 81 IN, above loa',
Tenders for sale OF Bonds with couput
due ! st Scpterl her. 1872. ~ a price 10 / g
stated In the Tender. must Be lodged ma
later thar 3 o'clock y. NJ. on nth Fehruary.
1919. with Mes,rs ]. p. Morgan a Co, .
wall street, New York
Tenders Will be received also IN Paris ~
the Banqus de Paris at des Fsys Eas n
London ~ MesSrs Barring Brothers & Co..
La, and IN Buenos Aires by the CTed!iO
Puhltco Nacional.
Each bond has a par value o: 1878 U. {
Gold Dollars, ara Tenders must be made ~
Nat price under par expressed IA doAsis
por hond
Tenders must Ia made on a forrl ohtairt
an" on Application. and must oe securely
enclosed IN IN envelope marked Tender II
ATE"utiUe Government 3 Fer Cent Internal
Gold Loans 1903 bonds tor redemption" :
Tn" Tenders wifi be openeI in London ON
F"Hrunry IAN. 1919. and the resul, will 10
notified as soon as positive thereafter.
II NJ Treasury certificates represantinE
boEls o. the ABOVE Loan deposited with
the Treasury vii be accepted IN London IL
leu Of tho actual Honds, and in conslder-
ing renders, Bonds and Treasury certificates
VIII be SVEN equal treatment. ID.
Forms OF Tender may be obtained on az ,
pucation 60 Nessrs. !. =. Morgan a Co. -
wall street. New York, who reserve tk8
riEht, 70 reject all or any Tenders
dated. New YORK, February Sth. 1912
The sun., 1919-02-11
Important Articles Prohibited.

The most important of tho prohibited
articles, as measured by the value OF our
exports thereof to Great Britain, are ap-
parently Photographic appa ratus, metal
working machinery. sewing machines,
soap and apparel. OF Photographic APP
paratus exported from tho United states
tnclud!ng motion picture films and other
s"nsitiZed materially the average IN the
three fiscal years preceding the war was
about S6,600,000 per annum. while the
British figures OF imports OF these arti-
c.es from the United States showed all
annual average OF $500. 900 per anupm.
''Of sewing machines and parts our
own figures OF exports t. Great Britain
show an annual average OF s2,j92.o
per annum. while the British figures of
imports of sewing machines from the
United States show an annual average
OF H.394,O0O. OF apparel our own
figures. II We include everything which
could he properly classified under that
general title. would show an annual
average OF si.54O.O0o, while the British
figures OF imports Of apparel from the
United States show an annual average
or but $4,000.
The total OF AL our recorded ex-
ports OF the prohibited articles to Great
Britain during the three fiscal years i'm
mediately preceding the war formed. as
above indicated. less than ! per cent.
of our total exports and a little over 3
per cent OF our exports TO Great Britain.
while the British figures OF imports
from tho United States Of tho articles
included in the prohibited list formed
but about one-half OF per cent. OF her
total imports and about 3 per cent. of
her imports from the United States"
The sun., 1919-02-11
Adopts Fuel OIL Resolution.

WAsHINGroS. Feb. ia resolution
by Senator Ransdell CLouisiana) calling
upon Government departments FOR infor-
nation relative to fuel oil supply was
adopted to-day by the Senate Commerce
Committee. II asks specifically about
the effect ot Mexican restrictions on the
output OF that country.
The sun., 1919-02-11

The report OF the British American
Tobacco Company for the year ended
September 30, 1918. published yesterday.
showed net profits after deducting
charge and war taxes Of slj,700.S So.
against sI5.525,0lo for the preceding
year. Preferred and ordinary dividends
for the year were unchanged Mt s1.1e5,-
600 and s9.3S1.iSO respectively. leaving
s5.194,395. the surplus for the year.
which, added TO the surplus reported at
the end Of the preceding year, makes
the total surplus on September 80, 1915.
s17S27,S95.
The sun., 1919-02-11
COFFEE MARKET.

The coffee market yesterday continued
10 be quiet affair, although the un-
dertone was f!rmeT than at tho close
of the past week. On tho call prices
were to II points higher. due TO
a little scattered covering and trade
buying in the near positions. with almost
an entire absence OF selling pressure
The market closed at the best point Of
the day, or IL to 90 points net higher.
The local spot market was practically
unchanged, with business slow for all
kinds.
The sun., 1919-02-11

New ORLEANS, Feb. 1o,--Heavy SELL
ing was felt by cotton to-day and re-
Spouse was made to the pressure. on
opening and a, close were steady periods.
Last prices We're unchanged TO 20 point
up. March. 2:.20c. May, 10000. July,
GOOSE; October. Is zoe; December.
1920 Spot steady. 100 points off mid
ding, ASSOC.
The sun., 1919-02-11
COTTON STATISTICS.
CONSOLIDATED EXCHANGE.

The market on the Consolidated T,x-
change yesterday closed strong and
active. The ono weak SPOT In the l!st
was American Can. which closed at i9I.
steel common advanced 10 $685. and
closed at S9>a. in tho equipment stocks
American Cas- and Foundry. with . two
The sun., 1919-02-11
ELECTIONS AND MEETINGS.

The annual meeting OF the stockhold,- q
~ IN" Itliihr!dge Weeks Thuriow Co. In
viii 10 hsl1 ~ their once. s; Warren 81
New Norh C!ty. on Tuesday FeS. 18Th, 1871
at one o'clock IN the afternoon. for the our,
pose OF electing directors and such othei
business AZ may properly COINS before SAD
Trootirg NJ v THI'RLOW s.r'v
The sun., 1919-02-11
UNDERWOOD CoMrITING MACHINE

Tho annual meeting Of m. stockhoid.r,
~ the tnderv GOD Computing Machiu-
Company will be held at the once OF In.
Company. No, 40 Nesey Street BOROUGH q :
Manhattan, Ci,y o, New York on Wedn,s
day. f~hrusry ls'n. 1919, At 1900 o'clors,
noon. for N" election OF Directors 81 tia
Company and for slich other suSiness a;
may pruperiy come before The meeting
Z J. ItQsSlIEN. AetlMk Soc re mn.
The sun., 1919-02-11
To Issue Bulletin.

"a bulletin VII! &c issued ser!!-rno..h!y
n the members OF the committee which,
VIII give the results of the studies made
rs we'll as plans which are in successful
operation by lenders on mortgage secur-
.ty. Later on II is our intention to pub
.'A a book which will comprchensively
eve the results of this committee 6
work"
The committee sent out question
"a'rc for the purpose of crystallizing IN
this State some plan OF operation to the
end that the banks and other MORTGAGE
snfers may be urged to apply the prin-
pie Of amortization in some form to
ne'r real estate loans. II Is making a
study of amortization of such loans OF
'anks of European countries az we'll as
- those throughout America. The ques-
ions asked were as follows:
What is the method employed by you
n making and caring for real estate
loans:
For how long i term do you make
mortgage loans and what is your prac-
'c when the loan natures?
DO you require any reduction OF the
--.7cpdl during the life OF the mort
t"Sn loan. periodically, or BY call: II
80. low and when?
DO YOU require a reduction OF the
N.7cipal before renewing a mortgage
.oa02
DO YOU believe In the amortizat ton
{. mortgage loans?'
The sun., 1919-02-11
Drexel & Company
Philadelphia

point advance, was the feature. Marine
proeorrcd closed with a gain OF IL, To-
bacoo Products jumped three points to
SIS aud Hide and Leather preferred
closed two points higher.
The sun., 1919-02-11
Range OF p

Conee Cahles-Rlo 70 were not 1uoteu En-
bags and stock 7o60oo bags. In Santos spots
were unchanged at 1920 for No. I. Futures
70 reis lower TO rs reis higher. Receipts q, 90
ports were 80, 900 bags. against 5000 last year
and $500 two years ago. Sao Panlo had &c. 600
against ~ 900 and 1900, and Jundtahy q, 60
, against 5000 and i3. 90 bags respectively.
BRAZILIAN COFFEE SrATIsTICs
The sun., 1919-02-11

LoHpoN. Feb Money! a., uer
cent Discount rnt,s, srr'' aul Z .r,y
months bills, l1-&2 i.,r cent cold
premiums at Lisbon 600.
The sun., 1919-02-11
british EMBARGO
WAS NOT SERIOUS
Less Than S20,000,000 in
T. S. Exports in 1912,
1913 and 1914.
MOSTLY MINOR ARTICLES
Slight Difference in English
and American Reports Due
TO Periods Covered.

Less than per cent. Of the total ex.
ports OF the United states to England dur
ing the years Immediately preceding the
| war. and about one-half OF per cent. OF
| Eneland's imports during the same period
! are represented by fifty articles recently
| named by Great Britain in It's embargo
order. This was announced by the Ma
tional City Bank yesterday in its weekly
foreign trade bulletin. which contained a
| compilation Of figures covering the
articles as shown in reports Of the two
Governments.
Exports OF articles mentioned In the
embargo order from the United States to
Great Britain during 1912, 1913 and
1914 totalled less than s20,00o,000 a
year. while Britain's reports Of importa-
tons OF prohibited articles during 1911,
TO- AMI 1913 were s13, 900 600 a year.
Til, discrepancy In the reports IL ac-
counted for by the bank in part by the
fact tina. the British schedule of imports
from the United states fans TO include
minor articles enumerated by tie United
states in its report OF exports to Great
Britain.
The bank points out that in many
cases American exports to England may
have passed directly to colonies without
being recorded in England. tho British
figures including only goods unloaded
from the importing ship.
Another reason for the difference 10
that the fiscal years covered by the re-.
ports differ. that OF Britain being for
calendar years ending December al and
that Of the United States for fiscal years
ending June so.
Included Mouth Organs.
"A still further cause for the dis
crepancy.' the bank continues. "lies in
the fact that many OF the tifty articles
named in the prohibited list arc OF such
small Importance that neither OF the
Governments In question mentions them
in Its official list of exports to the vari-
GUS countries OF the world or imports
from the various countries OF the world
including whatever small values there
may be in the unlnformatiye grouping
all other countries or articles.
Mouth organs, for instance, which
were mentioned In the British list Of
prohibited articles. are not shown in
either the export figures Of the United
States or the import figures Of Great
Britain, neither are mops. slide rules
for engineers, microscopes. spectacles
and glasses. wringers and mangles.
vacuum cleaners, mats. baths OF metal
or fatty acids.
Certain articles mentioned by the
United States as exported to Great Brit
ain are not shown by the British figures
as imported from the United States.
being presumably included under the
general heading of all other articles or
all other countries
'Of nifty articles included in the Brit
!sh prohibited list only about twenty
Ave are considered OF sufficient impor-
lance to be included by the United states
in its list of articles exported, while only
about twenty are named by Britain in
that country's list OF Imports.
The sun., 1919-02-11
Asked for legislation.

~rhe League OF Building and Loan
Associations presented to an appropriate
department Of the Federal Government a
request for legislation which would en-
able an Increase OF mortgage credit that
jreasurtes OF building and loan associa-
ions depleted by patriotic response to
calls OF war may be replenished TO meet
demands Of peace readjustment. II may
oe question whether such legislation is
desirable.
Nevertheless demands for mortgage
loan money other than for building OF
homes In urban and rural districts are
lnrstent and increasing. The way in
which adequate provision will be made
% meet these demands is by the unlver-
sal responce on tho part OF lenders on
mortgage security to some plan OF amor
t!sat!on OF mortgaga loans
Immediately following tho convention
~ the American Bankers Association at
chicago last September the committee on
amortization of mortgage loans Of the
savings bank section began a study OF
The situation. On inves igation we found
mat only IS per cent. of the savings
hanks. insurance companies and trust
companies OF the country were not in
FAVOR OF the principle OF amortization be-
:hg applied TO mortgage loans
With the almost unanimous concur
renee Of opinion and with the material
available TO US this committee is organic
ing nationwide movement. the organi-
zation of which will be basicaliy COM
oted OF committee OF six In each State
az the Union
The sun., 1919-02-11

~...v AZ ..'.~. .>-
$12,5Oo,oOo
Public Service Corporation of New Jersey
Three.Year Secured Convertible TO Gold Notes
Tot dndM LOO march,,
G sS % % ss : .%"sa s as"sa T @ %
:::;:: e.: IS; e.: : = g: s:
:asss ess Ss; s dividends" '" a" d" previous notice the Corporate"
::: ::: :: ;;s: ; #; g.: - $ :;
s s %fs %;ss"a5
Company hh.r~u.e
S G s+ " S S as S"s y "= ss" s T 'e" Esq.,
ts S p S%a% f Ns 1f T owns but a. shares e
se1i,M
:; Is: s: s''s: 's ss %
ero~ar %wfxced TIFF MaioHDo lrssnnu
a
Gs lr % 1885, d s s espss Stock Ps sep
principal Of Notes. s.''' % '' -'' "
a1h 1% cs" f s s d r s s and s pias os
sH qusnent " t % @ coraaon ncana inter- INTER-
p%ss5 S ss . sh IS t @ I" 5 s past ss ys
E r S Ss y u be 5s. Ss s1GSs' 2s, es s s
n r 1sf S sss 9 SAG % a s s
s :'; ss; %; e sss: $;: ;:: " S
authorized ISL.
t:= ss @ i @ T % sSF a%a
At 9slz and Yield 1850
: :$:: ;:s s :: ::: s. ::?::: $
Corporate" :a :aa s:a s' s S
Drexel & Company Bonbrght & Company Inc
New York
81: :" ss': :; pc: :":' n ': s;.s s @
The sun., 1919-02-11
WANT AMORTIZED
LOANS ON REALTY
Savings Banks Start Country
wide Movement for Gradual
Mortgage Reduction.
IT AFFECTS Sc, 900, 900
Committee Sends Out Circular
and QUESTIONABLE to Get
Expert Opinions.

Tie Committee on Amortization Of
Mortgage Loans OF the Savings Banks
section Of tho American Bankers Asso-
cation in letters sent out last night an
nounced the beginning of a nationwide
movement 10 apply amortization TO So
100000. 900 in realty mortgage loans, the
greater portion of which comprise loans
FOR periods OF years without stipulation
for gradual reduction or amortization.
Tire organization will be composed
hasicaliy OF a committee OF six in every
state The committee which has started
the move is composed Of John ]. Pullcyn,
president of the Emigrant Industrial
Savings Bank. chairman Peter J. Slach,
treasurer OF the Broadway Savings and
Trust Company. Cleveland: Il. +. Saul,
president OF the Home Savings Bank,
Washington; II. p Beckwith. Northern
savings Bank. Fargo. and William \.
Nelson, president Of the Savings Bank OF
Anson.a.
The letter issued by the committee fol-
lows In part:
The total amount OF real estate mort
sage loans in the United States in life
insurance companies, trust companies
and savings banks Is over 5000, 0o0, 900.
The greater portion of this Is comprised
II loans made for a period OF years with.
out any stipulation for gradual reduction
or for amortization. There will be
urgent need for funds within tho next
few years in order adequately to supply
The demands OF resumed building opera.
tons.
The sun., 1919-02-11
COFFEE STATISTICS.
EARNING STATEMENTS.


COLORADO AND SOUTHERN.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-01-02
Japan's Yearly Tonnage Increased.

TOXIC, December Is Correspond
ence of the Associated Press).-The
total tonnage OF new vessels Launched
in Japan since last January is 100000
tons, including those to be completed
by the end of this year. Compared
with last year this shows an increase
of 200 600 tons.