yji
Hmmm
EVENING LEDflJjm-PHIllADELPHTA, TUESDAY, SEPTEMBER IS, 19T3.
13
INVESTORS SHOW A
DESIRE TO RELIEVE
FINANCIAL TENSION
Encouraged by the Better
Feeling Everywhere Ap
parent, They Display Con-1
fijflnrn hv IVlore ActlVP of slloc A ronsul lina ndvlaed Hint n
lldence Dy muic nuivt number of European ouniinlftslon met-
Trading Prices Higher.
FORESEE TRADE BOOM IM
LEATHER AND WOOLENS
Local Inteiests Leain Conditions In
England Are Favorable.
leather and high-grade woolen cloth
innnuricttireii In thli city may expand
thrlr trndo by taking- mlviintiiKp of con
ditions In Un&lntid, accoidlng- to udvlrr-B
iccclved by local InlorcaK Infoi nintlun
from London i to tho rffoct Hint thu
dh rotor of contractu for thn nrinv im
ports a market In thn Hrltlsh tiadc for
chrome upper and henvj holo leather.
A man In close touch with the shoo
Undo declared that while this may he u
Rood thliiK for ono leather innnufncturoi,
win mean an increase line in the prlci
SOUTH AMERICA IS
A PROMISING FIELD
FOR NEW UTILITIES
lUported successes of tho allies In 13u
rope are having a good effect on tho Lon
don situation, and tho better fccllnB
which i apparent In financial cliclcs In
the metropolis Is belns rollocted hero to
marked degree. The advance In IIhr
tMi conol today, the almost sensational
ritcilno m grain prices in thli country, the
renoived colitlunce of fotelgn Itivntoia
in the stability of American sccurltleH
nnd moro active tlUdlng and consequent
liliher prices In Wall stipet and on the
New York Curb-all contribute to the
better furling which Ii appaiont In neai
lv nil ilnanclnl centres and to u renewal
of confidence In the ability of American
financiers to successfully copo with tho
iinrntallelcd situation that has foi moio
than a month enveloped tho ilnanclnl
markets of the world.
Iondon apparently displays far greater
itrength and courage than New York,
nnd InQiilrlis fioni London were received
here lor the new 0 per cent New York
elty notes European Investor know
that hlgh-clais American securities are
.afcr than their own, and many con
tend that foreign liquidation would not
it heavy If tho Now York Stock i;c
change reopened nct month.
A better market exists In this city to
day than at any time since the Stock
Exchange closed. Committees which havo
been supervising Investment transfers In
both the listed and untlstcd securities ex
press much satisfaction with the turn of
affairs. There has developed a better dis
position to trade on tho part of Investors,
and mnnv brokers have been able to
materially 1 educe tho amount of their
outstanding loans, much to tho giatlllca-
tlon of the banks. The latter have given
tht tinders every aid possible In the last
fiw weeks, and there Is no record of any
large loans having been called.
It Is generally admitted that the tlrst
necessity for a safe and sound market
when tho Stock Exchangu shall finally
open must be a return of conlldciico of
Investors In the secuiltlcs traded In. There
is but one way In which this conildence
can be cncouiaged, namely, by the nb
jence of unnecessary antagonism by otll
clals, politicians and others and by the
umoval of restrictions that have In the
past prevented corporations fiom con
ducting a sulllclently piofltnble business
to render their securities attractive to the
livings of tho people.
Railroads need higher revenues to make
their secuiltlcs thus attractive as repre
senting successful business enterprises. If
the tianportation companies are placed
In a position In which they can obtain
new capital on workable terms It will not
take long for etenslons and betterments
to be reflected by Increased orders In the
Iron and steel Industry, In turn activity
will be promptly communicated to the
other industries.
FINANCIAL NOTES
Hanking history certainly docs repeat It
elf. Conditions now find a pniallcl with
those 100 jcars ago, when this countiy
wa fighting the War of 1812. On August
:2. 1814, nhen the British were Investing
Washington, there occurred tho first gen
eral meeting of bankers ever culled in this
country, Specie payments had to bo sus
pended, nnd It becume necessary to woik
out an emergency system for tho pay
ment of daily balances between the banks.
"If J. Plerpont Moignn was allvo to
day," said the head of one of Philadel
phia's Important banking houses today,
"there would be no fear of heavy liquida
tion uf securities by Uuropeo.ii holdcis.
which, ii is ueiievoti, would follow the re
opening of the 'exchanges. Chances ate
he would form a svndicate of Aineilenn
capitalists to tako up a billion dollars'
worth of American securities now In for
eign hands, payment to he made over a
period ot two to three years. Ho put
through the crrenl hllllnn., inline c,.,i
Trust deal, the Eieatest financial work
ie world nns ever seen And he'd have
cone the same In the present situation
wo never really alue a great man until
lia s gone from us '
Shipments of authinclte coal in August
totaled 5 4S3 7I3 tons, against 3.3CD.8 0 tons
in the same month of last year, an In
crease of 113,813 tons.
The Lehigh and New Hngland Uailro.ul
naa mads stendy Increases In the amount
or anthracite coal shipped over Its lines
k-. y'.ur' Kver)' month this ear Is far
"ova the same month of 1!M3, and for tho
Wit months tho total was PitJ,W)3, coni
yr h 70:,','!)',' for ,he w0l ot lust
efS'hl'i- an.mml w'ell"B of stockholdeis
or iw. Wr? J!" and Tru Company,
Jin" n '' -'"""ei Hummel nnd A. f.
iant ii. . p,cclec '"rectum of the cot
Mn. All other ofllcers were re-elected
rhaiits, who had been selling Oct man
shoe llndlngs amf leathei iiinmifdi'ltiic,
expect to visit this country to Ret in
lotion with leather men line,
American Capitalists Plan
Invasion to Upbuild Won
derful Resources pf That
Country.
Public Utility operators In this country
aro turning their attention to South
.." ,.:;"".:: ."":."-.. . . -"
... iiiiormaiioii us ui me mgii giatio Amcilca na a promising Held for tho cs
woolen cloth in.nket also comes from mi .ni,ii-iim, , .. , . ,
American onichil It Is to the effect that ,null3liment of now electric rallwaj,
manufacturers who make unities' of thlti "s'lt, heat and power companies. Corn
cloth used In men's llist.Riide clothlns merclal nnd manufacturing Interests havo
should ho nble to make good connections nlremlv 1,,, rteiimin .it.,,., r n, ,,n,n,
In LiiRland It Is n'so set fnrtli Him n . e. alrca,l mla definite plans for tho capture
liable business mnti tK-tiics to get in of l,mt t-mm try's Immcnso trade, nnd now
touch with manufnrlurcia hcio In
lines.
thef.o
EDUCATION TOUR TO
AID FOREIGN TRADE
PLANNED BY ROAD
Lehigh Valley Will Send
Experts On South Ameri
can Business to Manufac
turers Along Its Line.
tho organizers of public service corpora
tions, backed by tho electrical supply
houses, bio arranging to tako advantage
of u situation which tho Eurojican war
his brought about, and which promises
to open a big new field to American In
vestois. -
It is logical to expect that, with the res
loiatlon of peaco In Europe, thoro will
como a demand for now capital with
which tr repair tho damago now being
done by Invading armies. Naturally,
whatever capital may he In tho hands of
European llnanclera at tho close of tho
var, will be neided for constructive de
velopment In their own particular coun
tilcs. This ftltuatlon, unfortunnte as It
inn) be, will be America's opportunity.
Tor many years, utilities In South
America have been financed almost en
tirely by Utuopenn capitalists. American
financiers have had their hands full at
tending to the wants of tho public In this
country, which hnB upward of $3,000 000,
000 Invested lii public service corpora-
,l..iin Mn C!.,,l. A. avtrtrt a Iitdlnllnn l.rtn
VTMt- at.t- t, a -.- ,..i ... 1 fciuin J nu uuukii iii,,tv,,Lii niiuuiiuii ,iu.a
.,,,, awm-v, oepi. iu. i ne i.eniKll i1PI, nlniost entirely lost slcht of. nnd It
Valley Itnlliouil Comp.uiv has made up was only recently, when expoiters here
Itn mind that If the m.inufnctuieis along began a. detetmlncd crusado to capture
Us lino do not benefit by tho tiado op-
DISSATISFIED BANKS TO
HAVE NO HEARING NOW
Re-dlatrlcting Petitions Must Walt
Until New System Is Orgnalzctl.
WABHINOTON, Sept. l.t.-lJcmands of
New Jersey banks to be Included In the
New York regional reserve hank dis
trict! of Ualtlmoro to be excluded from
thn Hlchmond district; of Uinaha to bo
excluded from the Kansas City district,
nnd other similar protests will not be
acted upon llhtll nfter the new cunene
sjstem la organised and placed In opei
utloli, members of th" federal Hcscrv
Hoard said todaj To suspend opera
tion ot tli new bank sstem until such
protests can be actttcd would lay the
board open to criticism, members stated,
Full nnd formal healings will be
given the complaining cities, which may
consume months tho bonld pointing out
that It lias power to ledlstrict cities at
any time, but pending the hearings, tho
divisions of the "organisation committee"
will be put Into effect.
SOUTH AMERICA
AND CANADA AWAIT
ODR TRADE INVASION
ISSUES OF MUNICIPAL
BONDS ARE HARD HIT
BY WAR IN EUROPE
August Sales 50 Per Cent.
Lower Than Previous
Month Many Offerings
Postponed and Bids for
Others Rejected.
liuruiimics 01 mo unucu atatcs in South
America ami other foreign countries It
will not be Its fault.
Within tho next ten dnjs a speclnl
train will lcavo this city. On hoaid
there will bo men tliaiuughl veised in
tJouth Amcilcnu ti.ide loqiiiiementt.
This special ti.iln will stop lit st at
Cistuu, Pa , and thero umlei tho auspices
of the Chamber of Commctce or some
othei association of business men the
delegation will explain just what South
AmeiicM. wants, how It wants It, when It
wauls it, how It wants It scut und how
It wants to paj foi It.
following the meeting In K.iston tho
tialn will stop at Allentown, Hethlelieiu,
Wilkcs-Bnne, Plttston, Scinnton, Hlng
hnmton, i:imlr.u Ithaca. .Geneva. Auburn
Con .1 branch line), Itochcster, and tho
toui will end llnall.v with a monster meet
ing at liurtalo.
The railroad company was led to foster
tho campaign because figures show that
In the cltlch along its loute m.tnufae
turor.s iiroduco 73 per cent. In variety ot
tho goods tciiulit.il by South Ameilc.i.
With anthinclto coal out of ounsldiia
tio.i the rond goes tluough a countiy
which pioduce.s 50 per tent, of the cement
of the United States just now eageily
sought by Latin American countries. Tt
pioduees also lion, .steel, woolen goods
ami Mlks, ngi (cultural and otln r maehln
cij, tools of all kinds, paints, lailtoad
c'nilnmetit of all kinds, fiom Hacks to
locomotives.
Tho ono fentuie which South merlca
has most needad Is facility for bilnglng
its inoducts to vvatei'b edge. Steamships
to c.uiy its merchandise' tit imv p.ut of
tlie wuild are, under normal conditions,
plentiful, and tho woild desiies its nat
ural products, Its wheat ami com and
meats and hides, and coffee and ioco.i,
and lubber and tin. The demand for
luilway niatei litis used In the piocess 01
Inci easing theso facilities formerly was
supplied by Gorman , Belgium, Unghind
and France. Now the manufactuiers of
the United States wilt have to supply
them.
tho tiadc of tho South America republics.
that this Held ns a possibility for tho
development of utilities was given serious
consideration.
The field Is considered especially at
tractive because of the many favorahlo
concessions which may be had. Just
now the South Ameilcan countries do not
represent any advanced development In
the line of utilities. National resources
of the most Inviting character are await
ing to bo turned to piactlcal use, and
they need only American brains, backed
by American capital to turn them Into
public seivlce. That they will soon ob
tuin this much needed assistance Is ap
parent, since It is the plan of American
promoters to shortly Invade tho field and
develop the gieat power possibilities that
have for decades gone to vvnstc, because
of tho lack of sufficient enterprise.
In the more prosperous countries, like
Hrazll and Argentina, there has been a
mai ked development recently, Influenced
almost entirely by financial aid from
London, Urutsels and Berlin. Paitlculai
Ij has Ciermanv been making good piog-ic-js,
because of the closo connection be
tween Its money Interests and the South
Amciiean Importers, who have been for
Philadelphia Merchants and
Manufacturers Organize
Committee to Extend
Markets in Foreign Field.
nepiesentatlvo Philadelphia business
men nnd manufaeturer.s havo formed a
committee to work with the Commercial
Mmcum for an Invasion of tho vast trade
Ileitis opened by the European war. Or
ganization of tho committee Is thn first
stop taken In Penns.vlvanla towaid open
ing the South Ameilcan markets to Penn
sjlvanla manufacturers.
Completo liifoimatlou i dating to the
South American tiado field will bo fur
nished by the Commercial Museum, which
Is prepared to point out profitable South
Ameilcan markets for every soil of man
ufactured mcichaudlM Dr. . P. AVII
suri, director of tin Museum, has offered
the committee the unrestiicted ue of
the Foreign Tiade lluieaii
Prominent members of the committee
aie Alba It Johnson, of the Baldwin
Locomotive Works: A. T. freeman of
John I). Stetson Compnnv: Ili-niy T.
Pierce, of thn Barber Asphalt Paving
Compan.v , Hdward Hobeits, of Heno
Dlslon & Sous, and Charhs S. Calwell,
of the Coin i:change National Bank.
"Made In America" merchandise will
find an eager market In Canada, accord
ing to Dudley Battlett. chief or the
Foreign Tiado Bureau of tho Philadelphia
cuiniiiercni .Miise'm wno sis American
manufacturers will prollt bv the Canadian
interdiction
of importations from Ger
many and Austrla-llungaiy. The C'ana- vVatertown, Mass, is, ftO.000 ankton, S.
dlan opportunity Is the dhect lesult of!1.'" :,si amI yi0-" Wyandotte Count,
Like the in irkets for other secutltles,
tho municipal bond market shows the
eflrct of tho European war. It has been
almost deserted by dcaleis, and since the
closing of the Stock Exchanges on July
W, offerings hnve brouaht unusually tow
prices.
Many municipalities were forced to post
pone thcli offerings, others rejected bids
as unsatisfactory, while hi ten Instances
no bids at nil were received. Bonds on
which no bids were recorded totaled
,2l!,000. This, too, despite tho fact that
the Intel est rates can led by the proposed
Issues ranged from I to 5ifc per cent, un
usually nttwictlve rates for municipals.
Nearly all of the Issues that were sold
during the month of August were taken
by banks In tho Individual communities
or by pilvate Investors. Prices were
usually at par, legaidless of tho Interest
tales, which havo been exceptionally high,
In most lnsinuces.
For tho month of August the total snips
of both permanent nnd short-teim bonds
Ijj states and municipalities amounted to
$IS301,", against $30,9.6.u7G In July, a de-
tnense of neatly CO per cent. A llttl" more
than hnlf of this total Is made up by
the sites of permanent bonds, the total
for tho month being S,6T3,4tJ. This Is the
smallest record of nn ono month since
April, l'i, the amount for that month
having been V,1M,.1H.
The long-term bonds reported sold In
Julv totaled $31,5SO,9:i; in June, $41,106,493,
and In August, lOll, lf,132.T I-' Ot the
entire amount ot (SIO.I.'T.fol temporal y
Ioan n the month 'S.IM.W. is accounted
fir In the short-term financing ot New
York cltj . For the eight months' period,
ending August 11, tho aggiegate sales of
permanent bonds was J139,&Sl,2So.
No bids wejc received for scheduled
offerings of Vin,Q;0 Columbus, O., School
I'ss; flO,CV) Hamilton County, O., 4'ls;
$41.00) Sanduskv, O. 4'3s; $73,000 Butler,
JIo., 3s; ?S7,000 Los Angeles County, Cal.,
School S'js: $400,000 San Diego, Cal., 5s.
$13.0fil South Ambo, N. J., Ss; $31,00)
Watcrtown, Mass , Is. faO.OOO Yankton, S
RAILROAD EARNINGS
U'rtbnsh Itallroad, July gross. $2,lJ.433,
decrcasu $88,362; net, $739,804, Increase $43,
562. Chicago Great Western, flfst week Sep
tember, $275,155, decrcaso -$16,784; ftom Jul
1, $2,613,007, decrease $168,572.
Boston and Maine, July total operating
revenue, $1,222,086, decrease $117,622: net
operating jevenue, $842,113, decrease $212,
82ti operating Income, $671,075, decrease
$217,677.
Midland Valley, Jul nross, $129,820, de
crease $13,M7: two months' gross, $251,279,
decrease $23,313.
Kutlnnd Itallroad, July operating revenue,
$302,M8. decrease $40,884; operating In
come, $48,342, flecrcaso $27,So9; from Janu
ary I, operating revenue, $l,s86,958, de
treaso $72,578, operating Income, $242,609,
decrease $5349.
LOW IRON PRICES
CAUSE WAGE CUTS
Mill Employes Will Feel Effect of
Smaller Trade.
PITTSBtmoiI, Sept, 15.-OU the aver
age, the actual selling priceB of bar Iron
In July and August fell below the low
est level recorded In 16 jcars. Mill em
ployes will receive lower wages fot Sep
tember and October as a result.
At the bi-monthly examination of sales
sheets, conducted by the Western Har
lion Association juuI the Amalgamated
Association of Iron, Stel and Tin
Workers, it was found that sates of bars
by selected mills during July and August
nvetnged 1 0'J cents a pound. This re
duces the wage rato of puddlcra for this
month and October to a 103-cent basis,
entitling them to a rato of $5.60 a ton
boiling, a materiul jeductlon from the
July and August basis
P. R. R. SCHEDULE,
NOW IN EFFECT, CUTS
OFF 50 LOCAL TRAINS
Runs On Others Extended to
Make Up for Loss B. &
O. Asks Aid in Preventing
Car Destruction.
urn war in uurope, jir. B.tltlttt ..iv,
uiging Philadelphia manufacturers "to
take advantage ot it.
"Canada Impoitcd Jlii.000,000 woith of
goods from Germain and Austria.
and Uus
t;n ft. ru.t
P" more. All time,. trn.ln nliii.Atn .. .
mauo pftWHveK' ntnur.,1 K. ,V, - 1.... -I... .,-
. . . .j ..W4VV. ,jj IHV ,,(ll, UUl III," II,-
J mand for the Impoits still exlsti. It Is
years In closo affiliation with each other. I Hungari ' said vV nr.io, o
in the past, with foreign capital large- "".France anu BcMum Jent in
ly Interested, purchases of elect! leal sup- ran,e i,Bcl:I" I seLl. " .
Plies, wnenever practical, were
nbioad. With American capital doing tho
trieal coneemn will. llntmiiv u '.'. ""u, ejy cnai Canadian manu-
., ., ". ', .u .'...,:-. "" inctu
(jl'l"JI 1,UI b Ui lllKl UU1I1CSS.
Kan., lirldgu bonds
I Announcement was ni.iuo in vv asning-
ton today by Sccicuiv ot v ar Garrison
that the offering of $2,400,000 4 per cent
Porto I'lcun bonds, bids foi v hich vvero
to h,ie been opened today, has be n
withdrawn. The bids which hud been re
ceivd wcio returned unopened.
TO AID SPANISH TRADE
British Met chants In Madrid Ask
Better Steamship Service.
MADU1D. Sept 13 -(Dispatch to tin
London Standard) Anglo-Spanish trade
Is bulfeiing sewrelj by tho gieat delay
to which all postal couespondence U
subjected owing to the wai, and tho
British Chamber of Commerce hero 1ms
uddiessed an uigeiit request to the
Spnnish and IJiitlsh Governments that
they CNpedlte the proposed establishment
of a legular service ot fast steamships
between Bilbao and Southampton or any
more convenient poit.
Tho chamber has also pointed out that,
In view of tho tremendous Increase in
tho ileum ml for Ungllsh manufactures
of many kinds, due to the Impossibility
of getting supplies fiom Kronen oi Ger-
re cleeteri .iint7..L -t I """i "lo .kuii itubs unci uiiuiniiers
other nme'il'"'"" '3lT- ! ?f '"'""UTco.M.ould be uskid to make It
Known nun mere are muny opeuings for
ti.iue wun tipain, and that mnnufactur
T.-l, ,. .. "'
rem nn ? nnnouncement of tho I rs should Iojo no time In gutting Into
dnttw- .i ."Ta" lnal " "I" at ones i m
ciudn.,1 .. ""omu of lta Purchases of
denendeiVt illvollne 'He L'ne. nn In
Say it win ,an,loun'-'''l that beginning to
oa It will take ul oil Us customers offer.
K?rthBuHi ue, r,SUme'1 toJa' b- thn
M Per , J 'V'""" F-mwmy at about
K to wi" Ien!a,mCUy' K,W,,B e"l,"0"
tofluc? 3h?U,mber w t'0I"tr ex''or's hnv
S7 I tons. tons' a"a 8lnee September I
stei-
CriflS! t0. th0 Sul)"easuiy -y
-'", since Friday, $J,WC.(W.
inuhetu'Siieia Uw Ameilc,,,, k10
during ,, i J"1 riC,-''l Inquiries
MM p irs . fl ,Ut'el for "3 "lK,
W?rmle.'.,,0M ,q b uwd lu tho
12 1'aVbctn u l',Bet.U as of Sc'unbcr
"onerSTterndrkeei1 "y I,ank Cmm'3'
in the nCk ,b " s,H-c,Il commit-
Wmmlttee wn, "r""" Company. The
"naer the term 'i08.0'1 for the vvork
of tlilc" "f u,e UMtmen$ mort
v w me company.
JSFlt uf!!,,,,r?M bet "I'l'ointetl
has auiH.i I' ,tMervo ,,oari1
"or of'ih-ri ?f' W,llis ,s "
" Lank act ' Uraft ot ,he lt'
Saltan A,23i" "-Statistics of
month, of I!,,'0' the first four
"Wwtain la,"'"f ott l iniportu und
SMh. Mtnpor TW trade for
Hut . f,ldl'ir with juti- was t4u.
uch with Spanish Impoitlng firms an!
with Ungllsh liU'iehants and oxnurters
having trade relations vvitli Spain.
GREAT INCBEASE OF IMPORTS
Trade Boomed Month Befoie War,
Repot t Shows,
Ihioriiious incirufees In Impoits of ho
siwrv, knit faooils, HUtomublles, silk manu
factures, i loth, carpets, diess goods and
wiailng appaii I for July of this jear,
the liiht mouth before tho ctimmcice was
flitiriupted bv the Kuuipeati war, as
compared to July. l'Jl.i, aro shown in a
toport by ('. II. Hi own. elutliman of the
loklei Manufacturcis' Legislative Com
nclttl'i Hosiery shuweil a gain of 43 per rent.,
uthu knit goods,, 11 -'O per tent, Class
1 wool T Jl per cent , and ,u tick's classed
at, munufactuie.s of wool 1,1,30 per cunt.
The July gain tor .Mi) products used by
.Mi ltioun to show the effect of tli Vn
deiwiiud t.ulff vi as I'd per cent This, is
the hiavicst ininate foi aus montii ainco
thu 1'udoiwoud bill bicame effective
FILM SHIPpTng'coNCESSION
Old Containeib May Be Used Until
Match 1, 1015,
tt SHl'C,Tu. tpt 15.-Shlppers uf
niuvhig pictiiio tUiitji today inched a
lonieiwioii from the tnci state I'onimercn
I'uiiimtiisioii. It was annouiKcd that in
hmihuIi us It appt-ais that some uf the
larger shippers uf moving picture films
have on hand a !ar,j quantity of con
tainers for iiuili shipments by i-Mires
whtcli lonfurm to the lummtssions it'f
ulatlonv guv i ruing tho Ii asportation of
such uiticled b ipus. hut uliKli do
not conform to the insulation which
wne to bii-uiiie ifftctlve Oi tobei 1, thu
louiiiiladiuu lias giauted tilt folluwlug i'
Uasiuiiif time on parueraph 4-1 of thu
reeulatloiiH foi the transportation uf cn
piosives and utlivt dangerouit mti lot b
i.plvss un Oct obi-1 I, l'J14
'Stiong, sp-rK-proof, vulcanli-a haid
fiiire eases. ruatl of fibre not less, ih-vn 0"W
of uu Inch t'i thickness, jelnforcd b
pistil at tb eorners, purehas'-d ril'r
to O t"Uer 1 Wt may be ua-i V"tH
M-r n J, 191. f"r thi t'jip i -nn rf nov
i i" i- flia tr"toea i inter r
ens m.
Total trackage owned by the 12C0 street
and electric rallwuys In the United States
In 1912, according to a census bulletin
Just Issued, was 40,470 miles nnd G49 miles
leuscd. About one-half of theso compa
nies had their own power plant equip
ment. Tho total capitalization of the
opetating companies was $4.70S,G6'U4I, of
which $i 381 344,613 was capital stock and
$2.3:i 223.6JS funded debt. These lines of
lallways carried in that year 12.135,311,-
,lt passengers, of whom L', 423,918 024 wero
on transfers and 165,Sb9,02o were free.
Continental Gas and Electric Corpora
tion has acquired the propeities formerly
controlled by Iowa-N'ebraska Public
Seivlce Company, which was placed In
the hands ot receivers something over a
year ago. The properties takon over aro
Nebraska Gas and niectrlc Company and
Iowa Gas and Klectrli Company. The
transaction involved 51,2,OX. Funds
for the purchase were raised through tha
s-ile of securities of the Continental Gas
and Electric Corporation to the Conti
nental nnd Commercial National Bank
nnd tho National City Bank of Chicago.
By a decision of tho Supreme Court of
Appeals of tt'est Virginia, the West Vir
ginia Public Service Commlsson has al
most unlimited power over rates and reg
ulation of public service corporations op-e-ratlng
hi that state
rers at this time aie In u nnsltlmi
to make up thn dellcit. This leaws two
alternatives importation fiom
Cit I'ontioller Pariulj. of New at k,
N. .!., has placed with bulks and com
mercial Institutions temporary loans ng-
fri .-.Lilting II tie! rent llilpre.st. njt. fnllrius.
(ilMt . " " ..-.
Britain ot from the I'nlte.i stntn i, i !'." Nntinrsl tunli. . . .l.nr'.fw
hardly reasonable to expect that British' n. n,i 'ui wii!' . '....'.'."." ' uim'mi
manufacture! h will bo able to take ad- rviniineulal t'asuaitj CMinpan. . 'iki
vantage of the present oppoitui.lt,. ' )lXT"irLilmTk..-::-:.-.... ' JsSS
PHILADELPHIA MARKETS
Tho winter passenger tlaln schedule of
tin Pennsylvania Itallroad, which went
into effect this morning, eliminates 59
trains, rive divisions are affected. On
some divisions the runs have been ex
tended to compensate .somewhat for the
trains annutl'd.
Comparatively few trains rre taken
oft tin Media Division, there bclnj some
extensions to tho pteant runs to com
pensntefor the reduction in the nuinbsr
of daily trains to West Chester, on tlie
J'hilideiphia division, from 13 to si::.
Vlrtuallv the same schedule that went
into crfcft on October 1, 1813, on tha
West oVrscv and Soashoio Railroad be
came effective toda, with tho excep
tion that two trains were withdrawn on
the steam road together with several
electric trains.
President Pmnxlngton, of tne Soo Ilnt,
sayj that the business of the roal la
about the samo as a ear ago. "Tha
grain Is moving In volume," he said, "and
v c are in line for a good tonnage. No-
vcitiDT ought to btlng out comparisons
that will be very satlsfactoiy compared
with a sedr aso."
The Baltlmoie and Ohio Railroad hai
asked It.' emplojes to exercise mora care
In the handling of cars and equipment,
ow Inff to .. stead.v Increase In the loj
due o desfuctlon of cars In accident?.
Du-lng the present jear 1671 cars valued
nt $330,6S4 'iero destroyed. This Is an
Inciease over 1910 of 2JS.47 per cent. In
number and -31.59 In valuation.
WitkoJt any support from tho employta
of the companv for t hose benefit it waa
established, the Pension Fund of tha
Canadi'in Pacific Railroad has a balanca
of $1 ',fif. There arc 677 men on tha
pension roll.
A plan for tne reduction of the sub
uiban passenger train service is under
consideration bj Chicago lallroads. The
plan Is to take off some of the trains dur
ing the middle of the day when traffle
Is not hcavj.
The Grand Trunk will build a passenfar
station at Black Rock, a suburb of Buf
falo, at a cost of $lCO,0u0
The gross income of the Chicago, Mil
waukee and St. Paul Railroad for Mia
jear ending Juno 00, 1914, wan $20,081,638,
against $31, 523.342 last ear. The balance,
artei the deduction of Interest and rent
als and the preferred dividend, was equal
I tr, ! f! npr pent nn Sllfi.K53.40fl common
CIirCAGO LIVE STOCK
, ,S1'.C-U': . Sopt. ta nonti neciipts,
llOtil Market ateuilj ; rnU I unu ut iiers.
H I.V.I. ,.,, II Cf T"l",l, ,
Itet with fair stle in a
values llfll lnalntnln!!.
.,..t'lty..,J.;,!f '" " sniokel an I
-i . esiertt neer, In set., ii .
ilt lieef, knucldcs mi I tcmlers
nlr dried, :iiSja4. ttVs'rrn ee
tenners, smoKeU. ..' lit lircr lin nx
pork, fanillj, $j, ,(s;r i,ani -
iuupc, mBliC,
obl.lne i) and T.n Bra e ConiorJ, wi crate tnigilOo ,
iliiiuii- i - iii uiin.ci, -urn . ,,. , i uill.tiuuii-h,
Liilora I i it . rni I ly I .u , In ilo . flats.
' ' "iii- niw ,n I., utrjiantl, per trni. J.i'ii tin, ,
mok' 1 an I wiiteniu'li m. outlifrti, per mr 5nilou, ,1-j .
n.t. .- .... . inr-fU. tt. r Illl XHftl I.,.
Iiiflt.li. . , " --
t ure.1
l.T . taClnn.l I .,k. li.l.tfitT DADX ADTUIIn I I fT I" rt hlAIII
no. .do,, Tmokeii 'isv ?, v 0,i,er ,J ms rum Hnmun ncnu l)IUVV
f!,i?S, c,lly cure'. in to liranJ on I in-nitf . ah II I iiinte nonnt r-r,
llffSU!.' : hani. sniokxl. VVittttrti m- 1 lim AN ILL NO S COBBLER
l-Oo , do, boiled, bonelesii. ."iall. . plrntu luunuw uuoni.tn
shouldors, S i tured, loo-e. U, nit , ilo.. i
SrSiS' io'Sbb-. "foc9; I'i'rusV'WSk"- Up Battleship Betvizan-Says
e.I!,alSSaa.,. 'do . bW? vv'V'i'Jcrtr lu'rW' '$ ' Surrender Was Unnecessary.
:l2W-X$MntW tltt'liUll Mnvno. 111. S.pt 14-Edwatd
kittle rendered In tl, roes ll'.nl.'i do. (irfilUM, llufsiati engliitei, who blew ur
PaZ-T,UU "nUtrel' '" Wl "-""' ,lle II.I ItetvLn at the fall of
c-r'intVcd'1; o1lr7,1v.ebU,nUlr,,ui:r'larU I'oi t Arthur to pi-nent it, capture b
MMi-",,,CVi,Bmdei7iVr.v7,a;if' "'"Kr" A" Jal""- ' "lioe cobbHr in this city. He
" I IaIi IImlI a.. .. e i. .. i
, in,L.k.. t 1.., .ii . i , . "-' .i, --n nuvii .illt-l III," Wll UI1U I llttl''
tllhhsh Little trading and ptii-. burcly tu .i,,, i'i,wi o, ,,u ,, i,,a ti,.., ,,,
nn n .sn ork niii-unni. io,,- Itl ? , l" -"iteu .Mates una lias since ttecn
rair to kui I. ii'.'iiin no, uaiuriu ui ciuicauurg
Iteae , ili. do fj(r to kvji I. I"1 .'tlili
pirt HKiiiia. tuiile
LIVE The mnrket quiet lih fairly
liberal otfering ut fnrmer rutea
. .KJ'..l?- choice, IfJrlNo., .lo. .,or ml thin,
ItiSflili'.c lid rooMen.. UiiU't prln cliK'It
ciis. nne. inrpe. 17Jlv,i- . do, niidiuin Ues 13
WtlM. ; ducka old flftllv1. do, h rlttg ll'tf
loc.i guineas, joung-, pur pair, ",0'iiSOe.; Jo,
do., ode.
Potatoei well cleane.1 up at tull
i, , lB" sencraii meads
figures
f -!-( tl imuiiiil choice. 73lT.V , do, fair in I,., I tlSii im, ,
nl feeder',, til 4flff white potatoes, Jersey, ir baiUet OIi."(ll ,
n!ei. . -Jf 12. wt potatoes. Eastern htloro per bbl No. 1,
mrku Htroiia na- tM.'flffti.' J.'i : No. i, 7.V1.151SI, teet potatoes,
ri ill., 1 nn CkT, U P.K. II..,., .. -.!. ., ..i ' t
i' iSHh i.i, bulk S-l(ifJli I'A m.i: ne'celnts' VV lilte potatoes, per bush I'nnnslwtnl."i
itui, miritet mow, betie, ST-lo-nll low 1, ami -uoice. i.ihi ,.,c , no, talr in (,.! n.,61 list
ncncr, i,i jo, etockeri and feeder1,.
. ieuns, a soils mi
niir 1.1 iteceinisj. L-iittM) murku Mron?. ni
tuc nna Western Jlfiilll liimln, V 73gs r,0 North f'n'ollna per bbl. .No t l 7'J No.
-, nwiil sweets, Jere. ;er bin, .No. 1,
1 $.' Silfti.'l, No. ". tLSutil 7 keft Jem.
I per 1 islet flll(ij.iiUc , unions VV raieru unJ Cou-
,in-iii.iu. .iii cnoii o per 10" 10 imi; i .,,,
onions, medium, per lflu-lb bug t. mbhaKe,
bin ile p r inn l'.'0(tl 'ler, Now urk.
per bunch, r.'Si:!l, mushrcutns 1'rr l.lb.
basltei, OUe 'all uu.
Apples moro plentiful an 1 bateiy teaJ.
REX PARIS IS WELL AGAIN
Returns From Adirondack Where He
rought With Consumption.
NKW yutlK. .Sept. 15 -Restored to
'1 lie ltctvizan. ho s-us. was, built at
Philadelphia, and cost Russia J7,5W),0W.
The cruiser gave effective ten Ice, until
an iiitunal explosion caused such dam
ago that it was necebsao to place her
In dry doc it for an overhauling. Foi
Itiwibg repalis, she ngain enteied tlie
service and abl defended Port Arthur.
Garfield was chief engineer of the ves
sel when he tired the magazine and do
stioyed her,
Hartleld fcajs Russian soldleia aie
bravo, hut that the mllcers Hvo in Idle
ness, luxury and dissipation und regard
privates as so man beasts Tho peas
ants, who compos the rank and tile, he
ay. nro sent u slaughter without hes.
itation. The aio unden-lothed. umler.
fetl and paid but a tritle, according to
Ourlleld. whilo the ottUers hieli In nn.
1 thurtty acquire wealth
jiirtleitl e.liib:ts, two medals whiih were
FOUND HUSBAND, BUT
SOON LOST HER LEGACY
Money Did Not Brings Happiness to
Ten-cent Store Heiress.
KANSAS C1TV, Mo Sept. 14.-Nadlno
Weaver was working In a 10-cent store in
Kansas City, Kan., for J4.50 a week when
she received a legacy of 11200 a year ago.
She imtf spent only $25 of her newly
acquired riches when Rudolp 1 Bloesot,
the handsome floorwalkej, learned of her
Inherltanc. In a 10-cent store a girl with
JU.W in bank is an helrcs. Nadln and
Bloescr became engaged.
On October 6, the girl sajs, she dtew
J1173 from tho bank and Intrusted It to
her fiance. lie said he "would put It In
a safe place." They went to Des Moines,
Iowa, November 4, and wero married.
Two days later he gave her 520 of her
own money and told her to return to
Kansas City, Mo , w hlle he went to
Scranton, Pa., "to look for a location."
He said he would also vNIt his mother
and would return In three weeks
The girl vent back to live, with her
giandmother, but her place had been
filled at the store. A few stiaggilng let
ters came, explaining that gopd locations
were scarce. A week bfore Christmas a
letter came, In which Blocser Inclosed t2o
moro of her own money and requested
that Nadlne get e divorce
"Don't ask any questions, bu' if you
low me, do ns I ask," he said.
The girl swore to a warrant charging
wife desertion and Sheriff Lee Hindi
bi ought the husband home from Fort
AVadsworth. Tex., and locked him In tho
Vjandotto County Jail on Christmas
night.
Two da;s later. In answer to her hu-
uanu s pieaaing, sno visited him In jail l" vc' ., uu ..u,o,-,w vuiuuiuii 'MMt
He convinced her that he had not meant stock- compared with 8 B2 per cent, earrjed . .jafgH
to desert her at nil. that although he I on 1C.S,SW stock in tho previous T5 'vSWtftjLW
11 !.. A . .. I TS 1, rat!. v Jk 4 An e. 1 4f " Mi "Sf A . N
nuu sjieni inree-iourtiis or tne legacy he ""- "''" "c j, "" e,u,,iv,
would pay it back, and that If let out of against J4,'?.21 ! In 101"
jail long enough he would find that "Joca-
Hon" and they would "live happily ever Traffic Manager W. C Maxwell, of the
after." Wabash Railroad, announced today that
A hen Bloe3er s ease was called in 1 Passenger farc3 between St. Louis and
court, Nadino refused to prosecute and he Chicago will bo raised tt on December 1.
was ieIoaed. Tney lived together just I un,J ra,'a trom ft. Louis to New Torlt
one week when the husband left again, ' wl" be rjilen
talcing with him the residue of the J1173
The "location" has not b"en found yet. I Regu'ar monthl meetings of tho thre
Nadlne a,ked for a nw warrant but Heading companies the Reading Com
Prosccutor Meok tcftised to issue It for' Pan;-. Philadelphia and Reading Railway
fear tli.it Nadlne would again refuse to ' C'mpan and the Philadelphia and Reart
proMcute. Sho applied tu the fiee legal '':? -'oa' ant' Iron Company will be re-
bumvu tu'iiorruw 111.J annual repans
will be submitted and acted upon at these
meotincs This year each company will
issue its own annual report.
nld bureau In Kansas C!t , Mo., but was
told the offense had been committed in
Kansas and a warrant could not be used
In Missouri. Then she went to saving
up her small wages to obtain a divorce,
and now the decree has been granted
"I don't want to hear that man's
name." she said. "It's a eate of 'never
again' for me I'm done w !th the smooth
talk and oil tongues "
F'ranu W. Blair, receiver of the Pera
Marquett, Railroad, today tendered hl
re&lgnatlon to Federal Judge Tuttle. In
Detroit. He gave as his reason that other
business demanded his attention.
lit ,1 1 1 1 :-i 1 r 11 ri ;iir.aw nr rfo ncii iir,., nnap rrinin on 1,1 iiiiriu .111 1 ,niyu dh,iu ik.
Chariest V& JTJ ! " M" Vl..n.. ..raiensteln n.u.l, .'""-to 1.1- 1-UrJ uurVg Xrt"
ciianes U. lliliu, tiireied JI,Uu0,(M) to and ,-ummer llambo, ij.annJ, mlir arletles. l Himlv believe," u.s Uarfield, "that
Dr I-rledricli i. trledmann, tho German ' Jt liiiir.'.riii. npplej Iielaar. per hamper, no 1 tin present Kuronean war will lift th-
turtle serum specialist, to cute him, has j ' ,.l","'";,i,r tV-.sV ! l''iSi?W'Kr ' aho "s oppression ttom the Russian
"S""; ir"' ; , , . , ?W: rKKSrSi1. dUY-l 1 1ik ' yP The' War w ill bo dethroned anS
vvihii i-aris was asked If ho had taken ' tM l .".tiWi. iranbenles i'h i'ol, carl 1 tl10 vast areas of land at present un
file Frledmann cure, Paris replied, "It Pluck, per irate. i 7".6U mnberrles Jer- oci tipiot will be di-trituited among tlie
Is all "tommj-rot" Mr. Paris accom- ;. ,., l,;rl,Llkle!rr,tV.,',l,l,, Li'' JiWM,ISnl h,n '""" 'lnf' n,l"'',w "' "' Uien
panied her husband tt. the Adliondacks vfrgiitia iwr .'" m" 1 aket .i,Rih ' i. . ,1 . th "- tt.ed.im wiui. Rti., will become
when ho went there In seaich of health Pr iiute 7.V 111 ., .1.1 Uiljuur. uJ,i npul'i 1 ke tl 1 1 ue 1 ttar-'s
It is retinrtetl that alio cnntr.se, ml 11. . JltilKint. per buaUet .'Vu "". tlu do in -
I
FRANKLIN
NATIONAL BANK
Broad &nd Chestnut Streets
Philadelphia, Sejitembsr I-'. 1J1J.
RESOURCES
Loans and Discount $25,797,100.52
Due from Banks 4,539,643.53
Cash and Reserve. ... 7,646,812.82
fcxehanges for Clearing House 613,984.16
Clearing House Loan Certificates on Hand , 945,000.00
$397542,541.03
LIABILITIES
?p,ial ' ' v m ;, v. $1,000,000.00
Surplus and Net Profits 3.30B. 20fi 07
, i wsv.
Circulation
. yiy.ioo.oo
Deposits ............ 33,313,934.96
Clearing House Loan Certificates Outstanding 1,000,000.00
dlbease from which her kilobaud has le
covered. Her futher said she was too
ill to make a statement.
LONDON CONSOLS HIGHER
War News Causes Advance New
Financing1 Toinoriow,
Contois are strong today at 6S?, an
advance of lj on the war news. Hold
shares ate flrmei
The Hank of Knsland placed l,0uX0
Metropolitan Water Boatd bills for six
mouths at an average of 3 5-3.5 per
cent It is expected that a special effoit
will be inado to uchlevo a spectacular
tcsult In tlie ili,tM,O0il Treasury bill
uptiaiion tomorrow, occauso It comes
at the same tlmo us Germany' first wat
burrowing
A cull :ci il.i on tho last Russia
loan Is due.
DIVIDENDS DECLARED
I'nllel i,a liiipioienieut rottitn tegular
iuarierl a jer 'ent iuable ixtober 13 to
tu k of recou freptetnter 'i0
MlUslns Mine i umiatu rekultr Qusrtct.y
". er tint lamble CKtoCer i lo jUKk vt
re ivl September JO
$39,542,541.03
iiate 7T,v (tiil J" 1 1 ii licit Jt-re wliltt, jer
tailtet. UK 'iiI. dt i . elli,w i-i ,
butket Ule'tlSI. pear i -arli i ri I
lUttlett No I 5a miii i u No . 5. 7". (
.I-j. CUpla TuMtrJle Nn t J innj ", i
No , K'nftjl.'i otlui viirHitirii Wo i
gruped, boatliem lielu turts jei uirte 1 .
lltVUIKSIl.
rill-. I'EVNSVI.V IMA COMIN (OK
INMltVMKS ON I1VEH .MJ
CU V.MING ENMITIES
September Hth. 9t I
7h JloirJ rf Dire, lr ha thU dy Je
" el u reiu'ar auirterly dividend of U
lit t'eut. (S9.04I per hjr), Uetr of tu
p '.! October Sth, 1911. to to kho'Jtr of
I ti ( tre -!. c( butlneu September
'. 1H, - B. MJWlUlu
TfsMurfr
Ifresh paintI
M Belie ve Me iM
PENN
NATIONAL BANK
i i r Her i tt ei i 1
ASSETS
! immediately Available:
! itui Ilrrt tl . ,'t S'tl '.I
ui i k fur I'learliikt lllsslT
It f from i'orrip, i.tl-
in" 411 oSu &i
$1,860,920.49
Available Within 30 Day:
IVituu.i l.uana SIB7,lMt)
I n lue In ill, Uu 1 HI J7o0
1'il'ii titates lion la
.' JiXI 000.00
Ii "i'U &. lms -
" stto t;s st
The diflerence between a house and
a home is often only a matter of
Paint!
And the difference between fine work
manship, good paints, prompt service
and satisfaction and the other kind
o' a job is simply a matter of
Kuehnle
Painting and Decorating
0 Oar i'-'n-a -!
Both Phonn 28 South 16th St. '
u'j
n I e
$4,229,863.32
Other Loan & Discount:
l .e within ln .U $. Thi u. i b
Iue htier UU da luui, ullji
IUih ins l'rvpri Jst o.'t .'o
$8,303,9T7.39
LIABILITIES
i"!-'-'! 15-trsaw
in lilt I .0 ,'7S -'Jl) Oil
trartilK Ilo IW t'ej
if atei , , cki oil
i'n fefoi. s fnnotjooo
Mj-C -i l'ro"i l'13.,JSJ
Aiwa"
$8,303,917.39
C' -rcl
S II
ygjiBwimmrp, I
f. It. Vli W.USTtlt. l-re-Ml-nt
lr, Uf l'rrldeDt. .1 m ,,, ,,,.,. .... . ..,
! lvMHIll' ii,. ..,., . .-,.. " " -nier.
- -, ....... ,..,. -.rs.i.ru, a. taenitr.
V. II tl(ltl
I..
I. t 1 11A.SKL.1MI. U.l f..hl.r
I- SHIKMC, . iH.UIrr
amuel 1'. lludine
lliotino lie Will ( uler
r.rorice II. Irmier
IMnunl II 'inltll
llenrj lutuull
.1 Itiillitrfnrtl VI, VlllMrr
IrrUrrliL I.. Ilallj
DIRECTORS
Fftlnzlmm It. Miirri
hiinitril T Mnti-lurj
Yrcf f VUUrlra
1 Ills I'iih.i I'.ikvinore
.1. Vntlrev lUrrN. lr
I Hampton lUrnr
llorrl I . C lolliler
f . . tt I'MLafd
( tmrlton arnall
. . .Mlerburr
l'tlr (. Irlloo
Itohert ('. Drayton
IttiUulpli Mill
FOREIGN EXCHANGE IN ALL ITS BRANCHES
&nkot yCdHemci
Philadelphia
luitKc roit
KtrptPii.l.ir 1.1 m
T VViUr Brown
lieorffr llurnhaiii,
William Wood
Jvhu rltialro
Jr.
( Itarlra II. Smltli
Henry w. ItlUdle,
''''ti Wheeler
William T. hllloll
i harlra I Inger.gll
t. lljmer llrooLe
. . Iarkn
namuel l, Curwea
ItKbOUHCUS
Loans and Investment... $15. ler.ij;;., C4punl
Uxfhanceu fer CI.irinr tiurpiua
House "fij so- i? r'roflts learned)
Due from Banks and "'- ' 'iriulatlon
HanKeis , ,, c, . "wpoaita
Cash and Iteervc
I.MIIII.ITII.
unci Cpdliideil
?1.M.Q4Q0Q
S.7t.8I.U
387,710.00
W ILLIAM T. ELLIOTT, PruMnt,
WILL1AH POST. C.,.c .
",3"7S tW-ate .MMDU
rii.wxHsjta
WILLKH V, CONRAD, AnLCu.ler.
ANTiLM If. iONES, li Ant, Cuhltr.
r1"' 'I Hi -mil, mmmm
m