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This newspaper page contains 18 articles. Subscribers can read the full text of each article.
Newspaper
New York Tribune
Location
New York, New York, United States of America
Date
Jun 22, 1918
Page
24
The text outlines how wartime clearing volumes reflect forced shifts in civilian needs. It notes reduced civilian purchasing due to thrift, with stockpiles and limited sources, while defense spending reshapes labor, wages, and productivity. It cites Bradstreet on scarce supplies and the broader impact on employment and purchasing power.
The report outlines Sub-Treasury losses, bank balances in New York, Chicago, Philadelphia, and other cities. It notes London and Spanish exchange firming, dollar exchange rates, and a changed cable rate for Indian canees, with various gold premiums and discount rates cited.
News dispatch reports a government move to reduce through freight rates from the Southeast to the West, aiming to ease shippers costs. The adjustment is expected to affect river and coastal routes, with carriers and regulators negotiating shifts across the Mississippi area. The plan, opposed by some owners, seeks to align rates with interstate competition and improve market access for produce shipping Westward.
Mowwe Tone president of Metropolitan Petroleum Corporation of Yirchum sent a letter to raiders urging ten to contribute capital and dilute their stock with joint protection from mitten to gain control of the company. The article notes focus on relations with Righmand Wewealt and the vm party amid promoter activity.
A wartime price upshift for iron ore to 86.00 per ton was agreed by the War Industries Board Iron Ore Producers and the America Steel Institute with President Wilson’s approval. The compromise increases freight and labor costs, covering transport and production pressures while continuing the price through June 4. Key figures included J.A. Savage & Co. and United States Steel Corp executives, with L. Replogle as mediator.
Market figures summarize credit men plans for world trade capture. Railroads show varied earnings with January 1 to date tallies for 1918 and 1917. The record lists movements and totals across railroader segments and related sectors.
A New York bankers committee forms to address federal taxation issues and to inform members about administration and tax legislation. The group includes leaders from major banks and plans to travel to Washington to testify before Congress and lobby for consolidated tax measures while coordinating information among members.
Paris trading was quiet with three per cent bonds at 69 francs 11 centimes cash and London exchange at 27 francs 11 centimes. Armament shares led strength on expected extra dividends while oil and Allied stocks steadied. sugar prices rose after a June 4 1918 update from E F Keeley outlining a new 6.056 cent per pound basic price. In New York, the International Sugar Committee set margins due to war risk, and a U S rail and finance news mix followed. A.M. Leach & Co expanded offices in Fisk Building for mutual and corporate space, while grain exchange managers met to discuss regulatory changes with the National Trade Administration.
A fragmented dispatch notes government efforts to extend services amid rising concerns about delays. The report mentions rapid developments and ongoing arrangements with manufacturers and wool suppliers rushing to meet demand, while officials stress timely completion of the program.
A garbled OCR passage discusses money, gold reserves, and bank activity, mentioning national banks and the Federal Reserve. It notes currency circulation and total value measures, though specifics are unreadable. The fragment hints at price movements and monetary distribution but remains unclear.
The National Association of Credit Merchants holds a Tuesday convention in Chicago with a banquet and entertainment. Officers are elected led by B McComan as president with Curley Ry Burrett as vice president. A committee investigates railway purchases and wartime supply management while a London Council of Commerce model guides postwar trade strategy.
Director BR H Aishton of the northern district announces new federal managers and rail presidents. J M Hannaford of Northern Pacific W P Kenney of Great Northern H H Byram of Chicago Milwaukee St Paul Railroad named as federal managers. Additional appointees include W Itpentionee Gy R Muntington and W W Walker.
May earnings reach 448 413 dollars with 210 410 dollars in expenses and tax. Net income after charges stands at 99 958 dollars. Twelve months ended May show gross earnings 5414 52 thousand and net income 1 258 180 dollars, up from prior year. Dividends and other items lift total income to 2 888 720 dollars with substantial year over year gains.
Fragmented OCR text discusses English income tax and the idea of taxing $100,000, noting criticisms of the tax collector and the amount left after levies. Mentions Albertan and a morning edition style, but details are unclear and partially garbled.
Directors of the International Mercantile Corporation were set to meet yesterday but postponed to next Tuesday due to no quorum. A committee may be formed to consider back dividends on preferred stock and resumed payments, with discussions on British properties and financing plans continuing in parallel.
Hope grows for near full car allotment as coal regions increase production during the week ending May 8. Bituminous output hits a record 12.05 million short tons, surpassing the prior week by 1.69 million. Daily coal shipments must average 90,000 short tons to meet yearly demand. Labor shortages threaten maximum output, while a nationwide campaign by James H Neele to speed up production is planned. Also, railroad officials and bankers discuss a standard contract with Director General Me Adoo awaiting his return from California.
Dividends declared by National Bank entities and rail company with extra and regular payments. Hanover National Bank posts 2 percent extra plus 1 percent quarterly. Elitens National Bank announces 2.44 percent quarterly and 1 percent extra payable July 1. Records dates June 22 to June 28 depending on issuer. Other firms declare additional percentages on common and preferred shares with payment dates in late June and July 1918.
A historical ledger listing numerous bonds and financial instruments. Entries mention Investmest Harris Forbes & Go, Amotech, Victor Seeing Machine Co, Continental Public something, and various city and company names. The fragmentary OCR shows many figures and issuer names amid incomplete text.
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