davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1920-01-18
New York Reserve
Bank Gets Funds
From Other Cities

The Federal Reserve Bank Of New
York, in its statement for last week,
showed the sum of 79,5O0,0O0 as
contingent liability as ndorser on
bills rediscounted with other reserve
banks" This borrowing from other re-
serve institutions was reflected In
net decrease of $35, 5,495,208 in total
bills on hand and also accounted in
part for the Improvement in the banks
reserve position to its deposit and note
liabilities. The ratio at tho close Of
the week stood at Ala per cent, COM
pared with 3S.6 per cent for the week
ended January 10, which was new
low record
In borrowing from other reserve
banks the central bank here apparently
decided to adopt heroic measures in
order to bolster up Its reserve position.
An analysis of last weeks statement
showed that this was accomplished
through the rediscounting Of bills
secured by government war obligations,
as this item dropped from $494,173, DAB
on January 10 to $419, SOB, ,656 on Janu-
airy II. Loans on commercial paper,
on the other hand, increased during tho
same period from $267 1870, 1923 to $685.
504,821 and purchases Of bankers &C
ceptances increased from $l04,795, 1856
to $212.295, ,536.
In contrast with the week before the
local reserve bank last week showed
a gain in its total reserves, the increase
amounting to s48,9O6,304. The gold
settlement fund increased from $11,-
153,651 to s94,19s,092, while the total
gold reserve increased $49,528,51O to
$572, ,285, 1886.
The weekly statement Of the New
York Clearing House banks showed a
rcestablishment Of reserve above the
legal requirements. the excess being
$34, 1927, $40, against deficit tho week
before of $2.912,6So. Loans and dis
counts amounted to $500, ,086, 900, de-
crease Of $31 III, 900. Net demand de-
posjts increased $95,222, 900 to $4,240,-
100000. United States deposits dropped
from 1902, 100000 to $193,020 900, show
ing the effect of heavy government
Withdrawals during the week.
New-York tribune., 1920-01-18
Money and Credit

The market for Stock Exchange
loans last week was under the in
fuence of reports, thus far officially
unconfrmed, that the Federal Reserve
Bank will shortly put in effect another
increase in its rediscount rate. There
were indications that the banks were
preparing for this contingency, for the
call rate ruled high and it was not un-
til toward the end of the week that
call money was in more plentiful sup
ply. In the earlier part of the week,
when the strain was accentuated by
heavy government Withdrawals, the
rate reached high of 18 per cent,
but on Friday after opening and re-
newing at per cent the rate dropped
to 6 per cent, which was also the clos
ing rate yesterday. That there was.
no real ease in the market for call
loanst however, was evident from the
tone of the time money market. Brok-
ers bid 8 and 81a per cent for funds
running from 60 to 30 days with un-
satisfactory results. With the con-
tinued heavy demand for money for
commercial use the banks see no pros
pect of permanently easier rates for
call money, particularly as it is evil
ties are bent on a policy Of deflation.
Borrowings of several of the more
important member banks at the Fed
cral Reserve Bank on December 81,
last showed total of s367,735,6S9.
The Guaranty Trust Company led all
the others by a wide margin with dis
counts Of $118.O05,689. The First Ma
tional, second in the list, had borrow
ings at the end Of the year of $751;
100000, while the Chase had $50 ,00O,-
900. A representative list follows:
New-York tribune., 1920-01-18
THE MERCHANTS NATIONAL
BANK of the CITY Of NEW YORK

NOTICE Is HEREBY GIVEN that At 4
meeting OF the shareholders Of The Mer-
chants National Bank Of the city OF New
YORK. held on January I3. 1920. It was
may be necessary or convenient to or.
ganize this Banking Assocl ton rs an In
corporattd bank OF fhe State OF New
York by the name ~ The Merchants Bant
OF the City Of New York, and also that
when this Panl. snail have been orgsnized
az an incorporated bank OF the state o.
New York proceedings be taken to fnerrs
u with the President snd Directors Of the
Manhattan Company.
by order OF the Board Of Directors
D. +. PAINTER. Cashier.
New-York tribune., 1920-01-18

lire, marks and the exchanges Of sew
eral Of the neutral countries became
weaker during the last week, and the
dollar moved to still higher premium.
II you calculate the cost Of the dollar
in terms of foreign money at current
exchange value, that Is, If you were
buying dollars with pounds. marks or
francs, its value at tho close Of last
week, as compared with q year ago,
follows:
New-York tribune., 1920-01-18
KNOX NAT COMPANY. INconroK.TED

NJ II. OF AN.NI Al MLl-I 10,
NOTICE - hereby given that ;he Annua;
Meeting OF the stockholders of KNOX HAT
coMPANN. INCOR!ORATED will be heis
AZ tho ori % of the corporation. no. 4b2 Flsth
Avenue. Borough Of Manhattan New YorF
City. y. Y, on the 2nl day Of FebruarS
lszo. al IL O'Clock noon. for fhe election ~
Directors for the ensuing year. and for the
transaction OF such other business as may
properly come before the meeting
transfer Books for the transfer Of ali
classes OF stock viii close at 2:i5 O'Clock
P NJ. on January is. 1920 and viii reopen
February 3 i920. "a; 10 O'Clock A NJ
BRAYTON WIrHEREI.L.
Secretary.
New-York tribune., 1920-01-18
More Business for u. S. Steel

A lions share of the $4,000, 900 con-
tract for steel placed in the Pittsburgh
district BY the Ford Motor Company is
supposed to have been booked with ths
United States Steel Corporation.
President Farrell of the corporation
was in the steel town Thursday and
Friday. and his visit there is under
stood in the trade to have been in con-
ncctionetyith the Ford contract, which
is said - involve some 2l5. 900 tons az
steel.
New-York tribune., 1920-01-18
Playing Safe Over Sunday

Quite obviously, the basis for the
rally In the market in the closing half
hour yesterday was to be found in an
inclination Of the professional shorts
to take their profits. Those who had
put out short line Of stock early in
the day must have cleaned up hand
someiy. Naturally, they did not care
to take chances Of favorable news de-
velopments over the Sunday recess
boosting prices at the beginning of the
new week. So they stepped in. after
driving the list pretty hard in the first
hour, and covered. This was the main
buying support in the market. Re-
ports that the public was a heavy
buyer of stocks were not credited; in
fact, the only signs Of public participa
ton for several days have ppeared on
the selling side.
New-York tribune., 1920-01-18
Imitation

England, as we'll as the United States,
it appears from the cables, has hard
nut to crack in the composite problem
of currency imitation. credit expansion
and high prices. There is apparently
a very close analogy" says viscount
Peel Under Secretary for War. ex-
pressing the viewpoint of the British
Government, between the different
amounts of currency at the different
times in the United Kingdom and the
food prices. The twenty leading Eng
lish banks had s751,0O0.000 on deposit
on June 80, 1918. while on June 80,
1919, these banks had been reduced by
amalgamation to thirteen and had
81, ,761 100000 on deposit Taking the
bank deposit figures of 1914 as a basis
of 100, this figure for 1919, represents
274.6. On the same comparative basis
wholesale prices in 1919. as compared
with 1914 represented 1858 In the
United States the connection between
currency and prices was not so close
and obvious. The proportionate rise
of prices was greater than the proper
tionate rise in the case of currency.
This might be accounted for in many
ways, partly by increased velocity of
circulation" Viscount Peel holds that
IL everybody in the country will do 10
to Is per cent more work more goods
will be produced, and there is bound to
be consequent fall in prices.
New-York tribune., 1920-01-18

Adams Exp. 50 81
Ad Kumely pr 70A 73
Am Bnk Note 43 40
do pr ..... 45 4518
A Beet s pr. So "a
A B $ Fdry. S6A 100 u
do pr .....l7l 1907
Am Can pr. 08M 99N
A c d b pr.1lA III
a Cot OIL Or ss 30
Am Ice 80. AK 441a
do pr ..... o. 65
A Iinseesl M - 98
Am Loco pr.l04 l08
Am Malt 49,. 40
Am Shipbldg. - 1928
Am Smelt pr. 100 100H
do pr A. =. 81 S3
Am SNUFF pr. 90 97h
A st Fly pr. SO 1914
Am Sugar pr.1l3 llSE
A Sum r DR. OK 93
Am Tobacco. .250 275
do pr new. 95 ~
Am Wool pr. .l0S1s 1857
A z & l. pr. 551a 5Sia
Ann Arbor g.. III II
A D q LIST pr "a Is
Asso Oil .lO4 1l5
At Coast L. SO 6l
AG \ & w I pr II "a
Bald Loco pr. lOlh l02M
barrett Co pr - lib
Batopilas NJ. ~ IN
Bkn Edison. a2 e5
Bkn I'm Gas. 52M IS
Brown Shoe. . los. 105&
90 pr 100 l0l
Burns Brs pr 90 100
Bufr Il 8 2. 45la 80
40 pr :.... 100
DSS d. 1s p .u:.. '...: :. .ssss4
Bush TcrmA.. 90 100
Butter1ck Co. "a %
Cal Pack pr. III l26
Can Southern Az 30
Cen OF N J. .l75 2l0
G & y A Tel. ia l18
Chi 4 Alton 9 10
do pr -. 8h 75
C 4 y III. :. 3
Chi ct West. 8 o
c & NV u.ll6 llSA
esp NJ & o SO 80
9 9 G 4 8 l. IS a
Col ~ K So. ...'Ss q 'ss sss.
do lat pr. sou IS
do I'd pr. ~ 48
Comp Tab. -. 533a 55
Cont Can pr. 100 l04
Cont Iiis Co.. SO SIS
Crex Carpet. 30 90
Cuba Am Su. 3i5 400
do pr 100 LOT
Deere Co pr. 1904 100
ID Il b w. .l80 19r
Den D. II G.. 9 0
Dot Edisou. 40 ll3
Dot I'm RR. 100 l04
d f \ 4 A. 3 I
do pr ..... q 3
Elkhnn Coal. 25 81
Fed NJ Il y. loM l4s
Fisher BODY. l22 1870
do pr .....i00 107
Gen Ch0gn ..lS0 ln5
do pr .,... 0S 100
Gen Cigar pr. 06 100
dn pr dob. 03 "a
! Goodrich pr. 1909 lOf
CRANKY NJ 40 Al
New-York tribune., 1920-01-18
DIVIDEND NOTICES
WESTINGHOUSE ELECTRIC

~ N ~ " Z skf-~V VV711 .N-SNs
Dividend Of two per cent. 90 per
Sharsl the COMMON Stock of this
Company, for the quarter ending December
81. 1919, Will bc paid January 81. 1870, 10
stockholders cf record as of January :. 1920.
H. +. BAETZ. Treasurer.
New York. neoeinber 20. 1919.
New-York tribune., 1920-01-18
Bid and Asked

Bid. Asked.
10 NJ & No. 7 IA
do pr ..... 30 50
C s = LIST pr 9aN 81
HomeStake o.. ~ 20
Int Agricul pr 7s 81
Int Paper pr IS l07
do pr stpl. II 77N
Int Nickel pr SSi5 901s
Iowa Central. 4 8
Jewel Tea -. II 10
do pr 500. Al AZ
Kayser J lilo ll5
Kan @ So pr. 46 ASA
Kelly Spr pr. 80 100
Kelsey Wheel. IS S5
do pr go. 07h 8Sls
Keok & D NJ. 8 An
X j. D NJ pr 18 80
kress & Co. 70 =
do pr 100 ll0
Lac.ede Gas. :. 81 30
Lake n & w 8 II
do pr ,.... 16 Is
Ligg 4 N 7. .l8S 80
do pr .l08 Ill
L.W Is LIST pr 9SiA 100
do I'd pr. .ll2 lis
II0rlllad pr. ..ll0M ll2H
MAckay Cos. 66 ~
Manhat Beach q ~
Manhat El.... a. a.
Mat Al W. :. 81 SO
Max NJ lat pr 50 e3
do I'd pr. :. 29
May Dc st pr. 100 l07
Mex Pot pr. 100 l05
M& s l. new lax IA
MSP&SSM pr. 9l 80
do lsd lines. "a g.
NJ X & 7. 8 0H
Mont Pow pr OF 100
Morris & F.s.. II
Nash & Chat. .l07 1l3
Nat Bis pr. ll5 ll6
Nat CT & s. rs 7S
do pr 100 l02M
N Il & s pr. l0l 1903
Nat Lead pr. l0s l09
N RH NJ LIST pr II Is
do I'd pr. 6H 81
" 0 I & NJ a. 45
lNYC&SL Pr. IS 10
do I'd pr. E. <3 48
N Y Dock. :. ~ IS
N aS z r a W: o., % 80 80
n Y 0 & w l6N II
Norfolk So. -. 10 IAN
Norr & w pr. 8s 10
Owens Bot. =. 3Si4 so
do pr ..... 9S 100
Pacific Coast. 35 80
pac Tel < T. 81 40
r Am Pet pr.lf6 200
Peoria & Z. IL II
Porn Mar pr. 40 81
! G G e. $ l. So 81
Pcttl Null. s.. rs az
do LIST pr. 100 -
Pierce Ar pr, 100 10Y.
Pitts Coal pr, 50 el
L u w h C.l22h -
Pitts Steel pr 9a 8J
rr s Car pr.l0l l0t
r s G N J. 6j fS
Reading LIST pr 81 80
= !. 4 S + pr ?ih ?d
8 Il 6w 49,. "a lah
do pr go. ~ 10
Senb A H.. I ~
do ctfs pr. 10 "a
tiO pr ....lt "
SonrA Roo. .31 aI0 ;.
do pr ...,.ll5 ll9H
1873 8 b l pr %
y r II Su pr,iiJ n lie
New-York tribune., 1920-01-18
The Inverted Pyramid

A fundamental weakness of the
credit situation in this country, point
ed to frequently Of late, has been the
steady diminution of gold reserves at
a time when credit expansion has been
proceeding at an accelerated pace
theoretically, in order TO maintain a
proper balance between gold and credit
the two should move together that is,
contraction in gold reserves should
be followed by contraction in bank
credits and vice versa. The country
began the new year with total gold
money stock of S2,787, ,714,306, de-
crease of S45,5O6,829 from the hold
ings Of December /, 1919. December,
it is to be noted, was the sixth con-
secutive month in which there was
net loss of gold on international move
ments But despite this steady loss
in gold credit expansion has run on,
and this is one reason why bankers
and other folk who see things as they
really are begin to scent danger. When
the country was riding on the crest
of the infiowing wave of gold on May
/, 1917, the high record of gold hold
ings was $3,121 1857, ,443.
New-York tribune., 1920-01-18
FINANCIAL MEETINGS
THE MERCHANTS NATIONAL
BANK Of the CITY Of NEW YORK

NOTICE IS HEREBY GIVEN that a, t.
meeting Of the sharchoiders o. The Mar
@ hants National Bank OF tie city - Se~
York. held On January -. 1920 & was
voted TINT the aid Bank 20 into iiquida.
ton and be closed aud dissolved.
All holders OF notes and other creditors
OF said Banking Association sre hsrsbv
notified to present such notes and oths-r
ciains ashinr' fh~ Association for pa -
inent at It's Banking House. Nuiuber I :
Wall street. New Yo-k city. until Febru-
ary rs, le2o. ard thereafter 70 its i.aui.
eating agent. the President and Directors
or the Manhattan Company. n; Nuu.be 90
wall street. New York CRY.
by order Of the Board ~ Directors
q. r.. PAINTER. ta@hiev.
l)ated New YORK.. IAnuary u 1920
New-York tribune., 1920-01-18
In New Street

Some interesting deals in privileges
are being made in New Streets put n
call" market these days. Puts on Steel
common were offered right after the
turn OF the year at So, good for all of
1920. No sales were reported. But
puts on 1900 to 1000 shares of Steel
nave been sold at 80 for the rest of
the year. Holders of these papers do
not profit from the transaction unless
Steel drops below 80. Puts on Steel
coud be obtained Saturday points un
der the market running for q week.
New-York tribune., 1920-01-18
In Wall Street
The Poor CanitslIst

A wealthy San Antonio man, in re-
ceipt Of letter from his bank calling
his collateral loan. replies: "For the
following reasons 1 am unable to send
you the check asked for: have been
held up, held down, and bagged. walked
on, fiattened out and squeezed. First
by the United States government for
Federal war tax, the excess profits tax.
the Liberty loan bonds. thrift, capital
stock tax, merchants license and auto
TAX, and by every society and organiza-
tlon that the inventive mind of man can
invent. to extract what I NAV or may
not possess. The government has SO
governed my business that | don't
know who owns it. am inspected. sus
pected, examined and resxamined. in
formed. required and commanded. so
don,t know who l am, where l am, or
why l am here. All I know IS that I
am supposed to be an inexhaustib,e
supply of money for every need. desire
or hope Of the human race; and be-
cause | will not sell all have and go
out and beg, borrow or steal money to
give away, have been cussed, dis
cussed, boycotted. talked about talked
to, lied to, lied about. held up, hung
down, robbed and nearly ruined; and
the only reason that I am clinging to
life IS to see what the hell is coming
next after prohibition"
The Pensacola journal., 1920-03-28
SANTA ROSA "COMINGUP."

There Is section of the state that is growing
with greater rapdity than West Florida and Santa
Rosa county is taking the lead. when 1t comes to
county wide improvements. With the development
that must come with good roads, that improvement
must be even greater than It is but even now every
person coming into Pensacola from Milton and the
surrounding country has something say of the re-
markable progress noted and each issue OF the
ton Gazette carries news stories and editorial COM
ment which go to prove that Santa Rosa county is
on the grade. The current issue Of the Gazette
carries several editorials calling attention to the in
creased trade at Milton and general improvements
noted. AS a lead. the Gazette has the following:N
"A trip through Santa Rosa county from Milton out
north, northwest northeast viii prove real eye
opener to anyone who has not been through this
territory lately. Where couple Of years ago were
miles of unbroken cut-over lands, which to the un-
trained eye looked as though 1t would never be
worth anything, are to be seen miles and miles of
farms under fence. with fields plowed and in many
cases stumped orchards started new houses and new
barns buiit or under course OF construction and
general air of development in evidence such as has
never been seen in this section before Nor are the
Improvements noted above of the CHEAP flmsv order
of the squatter but on the other hand s1bstan
tal The fencing in almost every instance being hog
tight ana cow Nigh The houses generally OF the
bungalow style or TWO story houses with lightning
trods and other evidences of real thought in their
Duhding. IN number OF instances these new homes
are supplied with running water from tower tanks
filled from pumps operated by windmls or gasoline
| engines After a trip of fifty miles through
Santa Rosa county recently we are confident that
this section of the state is undergoing a nerfod Of
development such as has not been known before in
its history and such as but few sections of the
has ever enjoyed. A look at the SOIL at the tmnrove
ments that are being made at the roads that ore
reaching out into this section and at the men and
women who are doing this developing gives one the
assurance that Santa Rosa is to become one of
the richest agricultural of the entire state
The Pensacola journal., 1920-03-28

1915.
Russians force their way into Hun
gary; army that won Dukla Pass
pressing on toward Bartfield and Svid-
mix; Austrians IN retreat burn village
but six miles north of Bartfield-Ger-
man cruiser Eitel FREDERICK still in
U. s. port; her time limit for depar-
ture a secret but believed to be near
Allied ships again shell Dardanelles
ports but this time from without the
entrance to the straits.
1916.
U. S. inquiries if German submarine
sank the Sussex" Secretary of State
Lansing cables Ambassador Gerard at
Berlin to make direct inquiry Of Ger
many; time for full understanding or
break-Germans make new attack at
Verdun; assaiI Avocourt- -Bethincourt
salient but are repulsed.
1917.
British press on north of Roissel;
capture town of Villers-Faucon and
heights of Saulcourt; Germans by at
The Pensacola journal., 1920-03-28
(Ciip and past this in your scrap booIss.
Copyright 1919, lew Era Features.
WHAT HAPPENED MARCH %.

tack IN Champagne take French 'front.'
line trenches and 800 prisoners-Presi-
dent Batochi OF German Food Regu !.
lation RoaraN tells Reichstag commitx.
tee that tndtion must seize all food
1918.
British repulse IL hour attack at Ar.
ras; General Haig's defense In strong
and repuises Germans after terrific
struggle; Germans cross the Somme at
Chipilly forcing British to retire there:
Germans take Montididier: have pene-
trated 35 miles from. St Quentin across
the Sop1me entering territory un-
touched by war since 1914--One COM
mander for the eastern front 10 fore
cast: General Foch likely to be chosen.
1919.
Rumanians and Czechs join In move
ment against Hungarian Bolshevists:
two Rumanian army corps have crossed
into Galicia--Austrahan fear OF Japan
blocks Munroe Doctrine Amendment:
afraid Japan might claim paramount
interest in China
The Pensacola journal., 1920-03-28
GROWING ASPARAGUS.

To the Editor Of The Journal:
Asking for your attention to the fact
that around the city of Pensacola there
are several thousand acres OF splendid
sandy lands lying idle. Would It not
be a splendid plan to turn such lands
into great money paying asparagus
farms so as to bring many millions of
dollars into Florida?
The growers of delicious, exceeding
ly wholesome asparagus farms on
Long Island and New Jersey make
millions Of dollars from cutting, bunch
ing and shipping punches of aspara-
gus to New York city. Boston and
Philadelphia markets. Heavy orders
from the hotels for 1t are selling from
The Pensacola journal., 1920-03-28

l5 to so cents a bunch.
The writer of this article is an own
err Of three acres of asparagus fifty
miles south of New York. ship
about 45 punches OF tips every day for
over two months each year to produce
commission merchants in New York.
receive checks every Saturday from
SIS to s25. Needless to say sandy soil
land is far the best soil for the deli
cious plant No one should overlook
the Importance of raising this vege-
table.
Asparagus is a splendid kidney
trouble preventative. My belief Is
that Florida could become the great
est country on earth for asparagus
growing There are several splendid
varieties of the plant Fertilizer es-
peciaIIy adaptable is made OF silicates
of potash and makes the tips much
larger.
More information concerning the
growing and cultivation of this plant
can be obtained by writing for farm
ers' bulletin on asparagus from the
United States department Of agricul-
ture at Washington.
ARMEGEDDON.
The Pensacola journal., 1920-03-28
Good Roads I'm Florida.

81 have Just returned from a three weeks stav
in Florida" remarked H. Key Mlnes. "and If had
not been good roads advocate before going there
certainly would be now spent most Of my time
in and near Tampa. All about there the roads have
been built on a permanent basis and no matter
what the condition OF the weather they are in good
condition all the time. Some OF them are brick
surfaced and while a little bit rough they are never
muddy and vehicles pass along them at all times
with ease ana perfect safety and comfort to mas
sengers. others have concrete base with asphalt
surface and they as smooth any city streets
could be.
From my observation and from information OBJ
tanned while there l satisfied that the people az
Florida derive more than enough money from tolr
lists to pay the interest the cost of construction
of the roads and to meet all maintenance expenses
From business viewpoint good highways have been
good investment for the state of Florida and it
would be equally profitable to Alabama to build
permanent highways. Roads that could be tray-
eled every day in the year and in all kinds Of
weather would draw thousands OF tourists to the
state in addition TO the thousands of settlers they
would bring here."-Birmingham Herald
The Pensacola journal., 1920-03-28

We all working together to one end. some with
knowledge and design, and others without knowing
what they do as men also when they asleep, OF
whom 1t is Heraclltus, think who says that they
are aborers and co-operators In the things which
take place IN the universe. But men cooperate
after different fashions: and those cooperate
abundantly. who find fault with what happens and
those who try to oppose u and to hinder it; for the
universe had need even of such men as these. 1t
remains then for thee to understand among what
kind Of wor4men thou placest thyself; for he who
rules all things viii certainly make right use Of
thee, and he will receive thee among somc part
OF the co-operators and Of those whose labors con-
duce to one end.-Marcus AureIlus.