tr-'fflt-k J M.
EVENING- LEDGER PHILADELPHIA, TUESDAY, SEPTEMBER 15, 1914.
13
INVESTORS SHOW A
DESIRE TO RELIEVE
FINANCIAL TENSION
i I... iLn Rttm-
incouragea uy mc uu
Feeling Everywhere Ap
parent, They Display Con
fidence by More Active
Trading Prices Higher.
...i .inrnoscB of tho allies In Eu-
In! an hvl"B a ood cftcot " th 1T.0n'
rW"1 .. .. (, hottse fee lie
,.- situation, iuiu . -- -
r . . ... .n,rfint in nnnnclal olrolea in
h. metropolis 13 being reflected hero to
t marked degree. The advance In I3ng
E i. rnnoola today, the nlmost sensational
Plsh..co.n,9.0.Tn tfriees in this country, the
Kniwed confidence of foietgn Investor
If Xt stability of American securities
in the stani "y trnMna nnd conscauont
R!l?i, mice In Wnlt street nnd on tho
aigher price. retribute to the
New p ., ...mm, la nnnnrcnt In nonr-
tetter foennj, ..-. .- - renewal
BSmflienTe In tho ability of American
W coi"""- -.iii rnm with tho
Bsanciera o . .
nPwaJlele.--. . ..inn.,i ho financial
&n apparently display, far greater
rrr .' .i.iA- frrvm Tendon were received
Kr he niw C per cent. Now York
dtV 4I0US "-." -,"'Z
tkt h Ell-Class Ameritmi .-,. ,u.- ...
I"1. ., ih.ix nwn. nnd manv eon-
titia that forelBn llauldatlon would not
M heavy If mo .w ij n. -changc
reopened next month.
i bolter market oxlBts In this city to
rn than Rt any time since the Stock
l . J"1 . t. t Ann Hthlfili liittln
Eich&nRe ciosea. uuiiumuo .; iu
. ...-,-uinrT Investment transfers In
. .. ,,.. 11.1,-1 nml unllntnd Hccurltlas ex
cess much satisfaction with tho turn of
.., Thnr linn develoDod a better dis
position to trade on the part of Invostors,
snd rannv brokers havo been able to
materially reduco tho amount of their
.....,-...iif Inntin. much tn the Kratlflca-
tlon of the hanks. The latter have given
.k. i.Ai.r titrv n.ld nossiblc in the Inst
few weeks, and thore is no record of any
Urge loans hnvlng been called,
t. i. ,.. nllv rwlmittnri that tha first
necessity for a safe nnd sound market
when the StoOk Exchange shall finally
. . , Ka n roturn nf rnnfltlnnrn nt
Investors in the securities traded In. Thero
. ,.... ...... n'n , t n.'hl,li fhln nnnflrlpnr
IS UUI uin " ... ..- ....w .............,.
Bean be encournged, namely, by the nb
Bsence of unnec'-asary antagonism by oMl-
l.i. t. nntlilflnna nnrl nthprs nnrl hv th.
I ....! nt rrstrlrHnnn tlint hnvn In thn
I louvtni v .-.,... .-- .- -
I past prevented corporations from con-
1 ducting a sumcienuy proiunoie ouaineas
to render tnoir securuiea aiiriicuvo io me
lavlnw of tho people.
Railroads nceu nigner revonues 10 maito
their securities thus attractive as repre
eenlln? successful business enterprises. If
the tranportatlon companies are placed
in a position in wniun uivy uun uuluiii
new capital on wornnDie icrma u win noi
take lonK for extensions 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
Banking history certainly doea repeat it-
sell. Conditions now Ilnd a painllcl with
those 100 jo u- ago. when thia country
was fti,-!itln ih War of 1812. On August
S, ISU. Khi i Hie Urltlsh wero Inventing
S'ashln8ton, theie occurred the tlrat gen
eral muling of bankers over called In this
countiy Specie paymenta had to bo aua-
pended, and It became nocesaary to work
out an emergency system for the pay
ment of dally balances between the banka.
If J. Plerront Morgan was nllve to
day," said the head of ono of Philadel
phia's Important banking houses today,
"there would be no fear of heavy llciuldu-
thn of securities by European holders,
which. It Is believed, would follow tho re
opening of the exnhnncps. Phnnrpn nro
he would form a syndicate of American
capltnllds to take up a billion dollars'
Worth Of American fiecur!ttp,H nnw In fnr.
eign hands. Davment tn hn mnHn iiver n
period ol two to three years. He put
through the creat billlun-dnllnr fitopl
Trust deal, the greatest financial work
the world has ever seen And he'd havo
Jone the same In the present situation.
We never really value a great man until
hes gone from us"
fitllnm.nfa rt n nt V.......I.. nn, l 4. A
IiT ,rV- niiiiuiH-iin luhi in annual
totaled 5,S3,7i3 tons, against B,3fi0,000 tons
I," , ame monin or last year, an in
crease of H3.8i3 tons.
Tkt T.Al.lr.1. ...! - t- .-. . ...
Mi ami . enmann uiuirond
"s made steady increases In the amount
iuiiucua coai snipped over Its lines
wis jear Every month this year Is far
tDOY. th Cfln,A n.A.l - -A, !-, -. . ...
..." -'- - Htxuii, ui lau, iinu ror me
"snt mnths tho total was 828,303, com-
r-.u wiin ,vj.vsj ror the wholo of last
At th. nnniinl mrnHnw e ..,-.. ,.t.,j
rt 'th .E,rr?.R.RS.,?..T Company.
lipfin imri uuramei nnn A. u.
ranv lV.fe l0,'te' '"rectors of the com
y All othi r officers were re-elocttd.
Pnllnulnn l--
Ptnn ni r. announcement of tho
CLZ'r " I once
crud. nii ,u V. ' "' na Purcnasei of
".pendJni"le Vnlvo,ln WP Line, nn In
ZTji ,VTl' beginning to-
""" ii us customers oiTer.
Norths.? W,re, resun'l today by tho
orin Butte Mining Company nt about
5 to MO menCnPaClty' K'VlnK emply"
otaJta SiMt7"br U copper exnorts hav
r ton, ,on,, antl s'noe September t
13an1f iAB. .
Jay km? mi. . t"0 Subtrensury yeater
r '.W,000; ,ncn Friday. l.016.000.
wnufcturat',l tnat American shoe
iurlng the7 'ave rlveil Inquiries
.0,om pa,.'",1 eek or " hlKh as
'oPe.n a.rmLah0a to bo uscd ln "
n Ma Lcond,"lon ot trust com-
Thorndi"e6Cl by Bank Commi"
WMMwil0! beforo t" of
,6 on th. nt6k by a ePe:la, ommlt
Wth" -M!0".111 ot nwni. for six
to taUrSf on ihUnB ,80' 13U- vallttbla
Nw v?k na,iadJu,tment bonas ot
cmittea wa, Iit"way8 Company. Tho
Xilr the tem. . fvn or the work
of thmp1nVhe adJU8t'"entmort-
t;kofr X'mJJi', ben appointed
has uallfl.e'leia, nerva Board
ttor ofqtha !1 ?"; w""8 ' tho
"' bank act ' dra" of ,hB re-
SvADAoSTRADESMAL1'Ea
?mC t2S5' IT "-Statiatlc. of
of tl. tor tha first our
Sbt h in "Jn ,mP't and
f?1" month. "Ports Total trada for
m. ath' f'ny with July, was iw"
fr Km,l57?0rt8 13'J-. "" in-
FORESEE MDE BOOM IN
LEATHER AND WOOLENS
Locnl Interests Xenrn ContlltJons In
England Are Favorable.
Ioather nnd high-grade woolen cloth
manufacturers In this city may expand
their trndo by taking artvantago of con
ditions In England, according to advices
received by locnl intoreats. Information
from London Is to tho effect hat tho
director of contracts for tho army re
ports n market In tho British trade for
chrnmo upper nnd heavy solo leather.
A mnn In close touch with the shoe
trade declared that while this may bo a
good thing fdr one leather manufacturer,
It will mean an increase hero In the prlcu
of shoes. A consul has advised that n
number of European commission mer
chants, who had been selling German
shoo findings and leather manufactures,
expect to visit this country to get In
touch with lenthcr men hero.
Tho Information as to tho high grado
woolen cloth market nlso cornea from nn
American official. It Is to tho effect that
manufacturers who mako grades of this
cloth used In men's firBt-grude clothing
should be nble to make good connections
In England. It Is nlso net forth that a re
liable business man desires to got In
touch with manufacturers here In theso
lines.
SODTH AMERICA IS
A PROMISING FIELD
FOR NEW UTILITIES
EDUCATION TOUR TO
AID FOREIGN TRADE
PLANNED BY ROAD
American Capitalists Plan
Invasion to Upbuild Won
derful Resources of That
Country.
Lehigh Valley Will Send
Experts On South Ameri
can Business to Manufac
turers Along Its Line.
NEW YORK. Sept. lE.-The Lehigh
Valley Railroad Company haa mado up
Its mind that If tho manufacturers along
Its line do not benefit by tho trade op
portunities of tho United States in South
Amorlca and other foreign countries it
will not be Its fault.
Within the next ten daya a special
train will leave thia city. On board
there will bo men thoroughly versed In
South American trade requirements.
This special train will stop 11 rat nt
Easton, Pa., and thero under tho auspices
of the Chamber of Commerce or some
other association of business men the
delegutlon will explain Just what South
America wants, how it wants it, when It
wants It, how It wnnts it sent and how
It wants to pay for It.
Following tho meeting In Easton the
trnln will stop at Allentown, Bethlohcm,
Wllkcs-Barro, rittston, Scranton, Blng
hamton, Elmlra, Ithaca, Geneva, Auburn
(on a branch line), Rochester, and tho
tour will end finally with a monster meet
ing nt Buffalo.
Tho rulliond company was led to foster
the campaign because figures show that
In the cities along Its route manufac
turer!) produce 75 per cent. In variety of
tho goods required by South America.
With anthracite coal out of considera
tion tho road goes through a country
which produces DO per cent, of the cement
of the United States Just now eagerly
sought by Latin American countries. It
pioduccs also Iron, steel, woolen goods
and silks, agricultural and other machin
ery, tools of all kinds, pnlnts, railroad
equipment of all kinds, from tracks to
locomotives.
Tho one feature which South Amcilca
has moat needed is facility for bilnging
Its products to watcr'B edge. Steamships
to cany Its merchandise to any part of
tho world nrc, under normal conditions,
plentiful, and the world desires its nat
ural products, Its wheat and corn and
meats and hides, nnd coffee nnd cocoa,
and rubber and tin. The demand for
railway materials used In tho process or
Increasing theso facilities formerly was
supplied hy Germany, Belgium, England
and France. Now the manufacturers of
the United States will huve to supply
them.
TO AID SPANISH TRADE
British Merchants In Madrid Ask
Better Steamship Service.
MADItlD. Sept. 15.-(D!spatch to the
London Standard). Anglo-Spanish trade
Is suffering aeveroly by tho great delay
to which nil postal correspondence Is
subjected owing to the war, nnd tha
British Chamber of Commerce here haa
addiessed nn urgent request to tha
Spanish and British Governments that
they expedite the proposed establishment
of a regular service of fast steamships
between Bllbno and Southampton or any
more convenient port.
Tho chamber hns also pointed out that,
in view of tho tremendous Increase in
the demand for English manufactures
of many kinds, due to tho Impossibility
of getting supplies from France or Ger
many, the English press and Chambers
of Commerce should be asked to make It
known that thero are many openings for
trndo with Spain, nnd that manufactur
er!! should lose no time In gutting Into
touch with Spanish Importing firm8 nnd
with English merchants and exporters
having trndo rotations with Spain.
Public utility operators In this country
are turning their attention to South
Amorlca as a promising field for tho es
tablishment of new electric railway,
light, heat and power companies. Com
mercial and manufacturing Interests have
already laid definite plana for tho capture
of that country's Immenso trade, and now
tho organizers of public servlco corpora
tions, backed by the electrical supply
houses, are arranging to take advantage
of a situation which tho European war
has brought about, nnd which promises
to open a big now field to American investors.
It Is logical to expect that, with the res
toration of peace ln Europe, there will
como a demand for new capital with
which to repair tho damage now being
done by invading armies. Naturally,
whatever capital may be in tho hands of
European financiers at the closo of the
war, will to needed for conBtruetlvo de
velopment In their own particular coun
tries. This situation, unfortunate as It
may be, will be America's opportunity.
For many years, utilities ln South
America havo boon financed almost en
tirely by European capitalists. American
financiers have had their hands full at
tending to the wants of tho publla In this
country, which has upward of $8,000,000.
000 invested In public servlco corpora
tions. The South American situation has
been almost entirely lost sight of, and It
was only recently, when exporters hero
began a determined crusado to capturo
tho trndo of tho South America republics,
that this field as a possibility for the
development of utilities was glvon serious
consideration.
Tho field Is considered especially at
tractive because of tho many favorable
concessions which may bo had. Just
now the South American countries do not
represent any advanced development In
tho line of utilities. National resources
of tho most inviting character are await
ing to be turned to practical use, and
they need only American brains, backed
by American cnpltal to turn them into
public service. That they will soon ob
tuln this much needed assistance Is ap
parent, since It Is the Plan of American
promoters to shortly Invade tho Held and
develop the great power possibilities that
havo for decades gone to waste, becauso
of the lack of sufficient enterprlso.
In the moro prosperous countries, like
Brazil and Argentina, thero has been a
marked development recently, influenced
nlmost entirely by financial aid from
London, Brussels and Berlin. Particular
ly has Germany been making good prog
ress, because of tho close connection be
tween Its money Interestn nnd tho South
American Importers, who havo been for
years In closo nfflllatlon with each other.
In the past, with foreign capital large
ly Interested, purchases of electrical sup
plies, whenever practical, wero made
abroad. With American capital doing the
financing, however, the American elec
trical concerns will, naturally, get tho
greater part of the business.
Total trackage owned by tho 12C0 street
and electric railways In the United States
In 1912. according to a census bulletin
Just issued, was 40,470 miles and 049 miles
leased. About one-half of theso compa
nies had their own power plant equip
ment. Tho total capitalization of tho
operating companies was $4,708,563,141, of
which $2,384,314,513 was capital stock and
$2,324 223.G2S funded debt. These lines of
railways carried in that year 12.135,311,
716 passengers, of whom 2.423,918,024 wore
on transfers and 165,869,023 wero free.
Continental Gns and Electric Corpora
tion has acquired the properties formerly
controlled by Iowa-Nebraska Public
Servlco Company, which was placed In
tho hands ot receivers something over a
year ago. The properties taken over are
Nebraska Gas and Electric Company and
Iowa Gas and Electric Company. The
trnnsaotlon Involved $1,250, ono. Funds
for tho purchase wero raised through tho
sale of securities of tho Continental Gas
nnd Electric Corporation to the Conti
nental and Commercial National Bank
nnd tho National City Bank of Chlcngo.
By n decision of tho Supromo Court of
Appeals of "West Virginia, the West Vir
ginia Public Service Commlssnn has al
most unlimited power over rntea and reg
ulation of public sorvlce corporations op
erating In that state.
DISSATISFIED BANKS TO
HAVE NO HEARING NOW
Ito-distrlctlng Petitions Must "Walt
Until New System Is Orgnntzed.
WASHINGTON, Sept. 15.-Domands of
New Jersey banks to be Included in the
New York regional rescrvo bank dis
trict! of Baltimore to be excluded from
the Richmond district! of Omaha to be
excluded from tho Kansas City district,
nnd other ftlmllar protests will not bo
acted upon until after Hie new currency
system Is organized nnd placed In oper
ation, members of tho Federal Reserve
Board said today. To suspend opera
tion of the new bank system until such
protests enn bo settled would lay the
board open to criticism, members stated.
Full nnd formal hearings will be
given the complaining cities, which may
consumo months, the board pointing out
that it has power to rcdlstrlct cities at
any time, but pending the hearings, the
divisions of tho "orgnnzatlon committee"
wilt be put into effect.
SOUTH AMERICA
AND CANADA AWAIT
OUR TRADE INVASION
Philadelphia Merchants and
Manufacturers Organize
Committee to Extend
Markets in Foreign Field.
Representative Philadelphia business
men and manufacturers have formed a
committee to work with the Commercial
MtiKcum for nn Invasion of tho vast trade
fields opened by the European war. Or
ganization of tho committee is the first
Btcp taken In Pennsylvania toward open
ing the South American markets to Penn
sylvania manufacturers.
Completo Information relating to tho
South American trade field will be fur
nished by tho Commercial Museum, which
Is prcpnred to point out profitable South
American markets for every sort of man
ufactured merchandise. Dr. W. P. Wil
son, director of the Museum, hns offered
tho committee tho unrestricted use of
tho Foreign Trade Bureau
Prominent members of the committee
are Alba II. Johnson, of the Baldwin
Locomotlvo Works; A. T. Fieenmn. ot
John B. Stetson Company, Henry T.
Pierce, of tho Barber Asplinlt Paving
Company: Edwnrd Roborji, of Henry
Dlsston & Sons, and Charles S. Calwell,
of the Com Exchange National Bank.
"Made In America" merchandise will
find an eager market In Canada, accord
ing to Dudley Ilnrtlott. chief of tho
Foreign Tiado Bureau of the Philadelphia
Commercial Muspm, who says American
manufacturers will profit by the Canadian
Interdiction of importations fiom Ger
many and Austria-Hungary. The Cana
dian opportunity Is the direct result of
tho war In Europe, Mr. Ilnrtlott says,
urging Philadelphia manufacturers to
take advantage of It.
"Canada Imported $16,000,000 worth of
goods from Germany and Austria
Hungary," said Mr. Bartlett, "nnd Rus
sia, Franco and Relglum sent In $20,000,000
more. All these trade channels aro
effectively closed by the war, but the dp
mand for the Imports still exists. It Is
hardly llkfiy that Canadian mnnu-
j facturers nt this time are ln a position
hardly rensonable to expect that British
manufacturers will be able to take ad-
ISSUES OF MUNICIPAL
BONDS ARE HARD HIT
BY WARJN EUROPE
August Sales 50 Per Cent.
Lower Than Previous
Month Many Offerings
Postponed and Bids for
Others Rejected.
GREAT INCREASE OF IMPORTS
Trade Boomed Month Before War,
Report Shows.
Enormous Increases In Imports of ho
sterv, knit goods, automobiles, silk manu
factures, cloth, carpets, dress goods and
wearing npparel for July of this year,
the last munth before the commerce was
Interrupted by tho European war, as
compared to July, 1913, are shown In a
report by C. H. Brown, chairman of tho
Hosiery Manufacturers' Legislative Com
mittee Hosiery showed a gain of 45 per cent.,
other knit goods, 21 20 per cent., Class
1 wool 7.31 per cent., and articles classed
ns manufactures of wool 13.J0 per cent.
Tho July gain for 200 products used by
Mr. Brown to show the effect of the Un
derwood tariff was 94 per cent This Is
the heaviest Increase for any month since
the Underwood bill became effective.
FILM SMPPING CONCESSION
Old Containers May Be Used Until
March 1, 1015,
WASHINGTON, Sept. 15.-Shlppers of
moving picture films today received a
concession from the Inerstate Commerce
Commission. It was nnnounced that In
asmuch as it appears that some of the
larger shipper of moving picture films
have on hand a large quantity of con
tainers for such shipments by express,
which conform to the commission's reg
ulations governing the transportation of
such articles by express, but which do
not conform to the i emulations which
were to become effective October 1, the
commission has granted the following ex
tension of time on paragraph 43 of the
regulations for the transportation of ex
plosives and other dangerous articles by
express, on October 1, 1914:
"Strong, spark-proof, vulcanized hard
fibre cases, mode of fibre not less than 070
of an Inch In thickness, reinforced by
metal at the corners, purchased prior
to October 1, 1911, may bo used until
March 1. 1915, for the shipment of mov
ing picture films enclosed la Interior
park i r-"f metal cases."
CHICAGO LIVE STOCK
CHICAGO, Sept. 15. HOOS Receipts,
tl.tpeo, market steady, mine I and imtrliers,
8 30tf(i0.4O: Boori nnd hi.-a, IHSOSUSS.
r,Ui'L,Savl.' .fSHb.na: light, s n.-,fio 4o, m,,
M.2.1?ia.fii): bulk, IS 40-tfD I'ATTI.K -Ueeelpti!
75(); market slow; bevies, $7 Willi, cowh nn,
holfers, J48D.75; stonkers and feeders. SH40n
8 21. Texans. 7.50h so, calve1. $0 .lirarJ.
HIUSKI. Ilecelpts, 2u.noo. market 8'roiig, na
tl und Western, Jlflfl IS, Inmln. 1.1 73Q' 50
REX PARIS IS WELL AGAIN
Returns From Adlrondaoks Where Ho
Fought With Consumption.
NEW YORK. Sept. lB.-Reatorcd to
health after an attack of consumption,
Rex Lee Paris, whose father-in-law,
Charles E. Finlay, offered 11,000,000 to
Dr. Frtedrlch F, Frledmann, the German
turtle serum specialist, to cure him, has
returned here from tho West.
When Paris was asked If he had taken
the Frledmann cure, Paris replied, "It
Is nil "tommy-rot." Mrs Paris accom
panied her husband to the Adlrnndacks
when ho went there In search of health.
It is reported thnt she contracted the
dlseuse from which her husband haa re
covered. Her father said she was too
111 to make a statement.
Like tho markets for other securities,
tho municipal bond market shows the
effect of tho European war. It has been
almost deserted by dealers, and slnco tho
closing of the Stock Exchanges on July
80, offerings have brought unusually low
prices.
Many municipalities were forced to post
pone their offerings, others rejected bids
tiB unsatisfactory, whllo In ten instances
no bids nt nil were received. Bonds on
which no bids were recorded totaled
$2,219,000. This, too, despite tho fact that
the Interest rates carried hy the proposed
issues ranged from 4 to DW per cent, un
usually attractive rates for municipals,
Nearly all of the issues that were sold
during the month of August were taken
by banks ln the Individual communities
or by private investors. Prices wore
usually at par, regardless of tho Interest
rates, which havo been exceptionally high,
In most Instances.
For tho month of August tho total sales
of both permanent and short-term bonds
by states and municipalities amounted to
$19,001,363, against ?M,920,570 In July, a de
crease ot nearly CO per cent. A little moro
than half of this total Is made up by
tho sales of permanent bonds, the total
for tho month being $8,673,412. This Is the
smallest record of any one month slnco
April, 1MM. the amount for that month
having been $8,199,341.
Tho long-term bonds reported sold In
July totaled $-11,280,921; In Jun, Jlt.10fi.493,
nnd ln August, 1913, $19,192,732. Of the
entire amount of $10,227,933 temporary
loans In the month $3,202,933 is accounted
for In tho short-term financing of New
York city. For tho eight months' period,
ending August 31, the aggregate sales of
permanent bonds was $338,884,285.
No bids wero received for scheduled
offerings of $210,000 Columbus. O., School
4Vs; J5O0.CO0 Hamilton County, O., 43 ,
JU.OOO Sandusky, O., 4Vs; $75,000 Butler,
Mo., Es; JS7.0CO Los Angeles County, Cal.,
School 5',s: J 100.000 San Dingo, Cal., Cs;
$16,000 South Amboy, N J., 5s; $31,000
Watertown, Mass., Is; JGO.OOO Yankton, S.
IX, 5s; and $300,000 Wyandotte County,
Kan., bridge bonds.
Announcement was made in Washing
ton today by Secretary of War Garrison
that the offering of $2,100,000 4 per cent.
Porto Rican bonds, bids for which were
to have been opened today, has been
withdrawn. The bids which had been re
ceived were ieturned unopened.
City Controller Parmly, of Newark.
N. J., has placed with banks and com-
,n.nlnl InafliiiHnnu t.mnnrnrl' In.inci ill.
to make up the deficit. This leaves two I .,.., io. . , n.n, i,itr..ut rnilnn.v:
alternatives Importation from Great ! ...?... .. ,.v. ,
Britain or from tho United States. It Is TTnXr . "i" " I .": " II 1 1 Sij iio.;
llnml A; Or,oKUn 1 70.OM)
1'i.ininert Inl Casualty Company ) roo
vantage of the present opportunity."
! Huntington I. I., Hank
I Irvlns National Uank
3,000
PHILADELPHIA MARKETS
LONDON CONSOLS HIGHER
War News Causes Advance New
Financing Tomorrow,
Consols are strong today at iS, an
advance of H on the war news Gold
shares aro firmer
The Bank of England placed 1,000.000
Metropolitan Water Board bills fur mx
months at an average of S f-32 per
cent. It Is expected that a special effort
will be made to achieve a spectacular
result In tha 15,000,000 Treasury bill
operation tomorrow, because it comes
at tho same time as Germany's first war
borrowing
A call for 1,000,000 on the last Russia
loan is due.
Met with fair sale In a Jobblni? wav and
values well maintained.
City beer. In seta, smoked and alr-drle I, Itff
nJc . Westorn lioef. In net. nmoked, .Uii.13' .
rlty beef, knuckles and temleri, smoke l an I
air dried, 32tf.Tlc, Western bcor. knurle-" anil
tenders, smoked, .T.M7.1IC , beef hams -logiHc,
pork, family, J2i)f(27 lianm, S P. tired,
loose, lnfltic, do, sklnnol, liose. U.'jfiKi1 ,
do., do, smoked. lMOIilli'-i., other h.imH,
smoked, city cured, ns to brand an I aeniE.
lnSSOc. . hams, nmoked, Western .'ured, lliif
20o : do, boiled, boneless, aifl'llp : picnic
shoulders, H. P cured, loose, lSflt.te , do.
8m"ked. lf.fi IfiUc : hollies. In o ekle. ac
cording to average, loose, lfiftlse ; break- I
fnat bacon, ax to brand and u crane, city i
cured. 20Ji-2e. , do., do.. Western cured. 2"w
22c, lard, Western, refined, tierces, llVli'Jc ,
do. do, rto., tubs HH'SlUc , Inrd. pure. city. I
kettle rendend. In ilerces, 11gi2c . do.
purn city, kettle rendered, In tubs, ll1,il.1'.
ItKl'lNKI) firm, but qult. Standard
jrruiiulated, 7"017..1c. line urniiu'ai ! .
7.."0c powdered, 7 i II.MI7 Oiv i-iinfu Honors A. ,
7.1.1tt7 lOc; soft (trades, n -.fi7 0-.o I
rilEESE Little trading: and prices barely I
nrjttu)-. ,ev turn lUll-L'ieun UlIDll-'H I'l '
Xll'iC, do, do, fair to roo I, lV-jlil't- do,
part sklm, tiflllc.
LIVE The mnrket quiet with fairly
liberal offerings ai former rates.
Fowls, choice, l7WlRc; do, poor and thin,
l0tflllV4'.; eld rooHterf., UtirJe., spring chick
enn, flno, larre, UlilRc., do., medium sizes. 1.1
fljluc; duck, old lltfiHc . do, spring, 14JJ
Inc.: Eulneas, joung, per pair. SCgSOc. , do.,
do., EOc.
Potntoes well cleaned up at full figures.
Other ei;etiibles generally utendy
White potatoes, par hush.. rennulvanla
choice, 73H'7.1e. j do, fair to nood, H",iiji,sc ;
white potatoes, Jersey, per basket 4iiru.',0c. ,
sweet potatoes. Eastern Shore, per bbl . No I,
S1.7Art2.:i,1, No. a, 7Sc.jtllj sweet potatoes.
North Carolina, por bbl . No I. ?1 71ft -' No.
2. 7Sc.iitJlj sweets, Jersey, per bbl, Nn I,
ti.r.llrtf.'l Nn ' ll.Killif 1 T.V iii Jen.
per banket, SOQflOo ; onions, Western and Con-
nectlcut. Valley, choice, per loo-lb batr, it 23,
onions, medium, rer 100. lb bug fl: cnbhase.
domestic, per ton fl2itl4, celery. New York,
per bunch, J1230; munhrooms. per 4-lb.
basket, SOcftJl CI).
Apples more plentiful and hurely steady.
Other fruits sold falrl) and values generally
well maintained
Apples, per bbl , Virginia Oraensieln. Blush
and Summer llambo, $2 3uft3, other varieties,
Jl.J04J2.SOj opples, Delaware. rr hampar, 30
tiCOc. ; lemons, per box :iii4; pineapples, per
crate, Porto Itlco. 12!if3 25. Florida, tint
2.60; cranberries, Cape Cod, Early Dlnck per
bbl flSOUfi, cranberries. Cape Col, Early
Black, per crate, Jl 7582 : cranberries. Jer
y par crate, dark Jl 7.1'iJ2 2.1 . light, JIGS
2.23; huckleberries, per qt . -tUfe : peaches.
Virginia, per Su-lu basket, i'arit.-'Uo : no , no
per crate, ,5c 'ft? 1 tU, do lieUware
Marjland, ner basket, -mm j..c ,
crate T5c.ft$l 2S . peaches Jersej
?i-baiket, -0cl. do., do, euow, per -basket,
40c dill, pears, nearby per bbl,
Baitlett. No J. $3.B0(SB do No 2 2.TSn)
8 23, Clapns Favorite No 1 $3 60135: do
No. 2. 2 75'iia23, other varieties l-"T.i
r. -i"t!
7,1c ; Braps. Concord, per crate, 4oifj00c ,
plums, pei sib. backet JUft2.rc. ; cantaloup,
Colorado, ,r i rat $11 ol); do., do tints,
I0iif7lk . do Muoland. per crate. 2.",ii,i .
watermelon Southern, per car, $.",')'& loo I"
Jersey, per 100. sscjl.l.
PORT ARTHUR HERO NOW
AN ILLINOIS COBBLER
and
, do , p,'r
white, per
frapes. Southern Pelawarn per carrier
0"
DIVIDENDS DECLARED
Unttel (las Improvement Company, regular
quarterly 2 per rent. p4ablo October 15 to
stock or record beptemljer Ml
Mutating Mines I'omtany. regular quarterly
S per rent, iaanle CK tuber 20 to stock ut
record Septemter SO
UIMDHNDS.
THE I'ENNSVLVAM COMl'ANV FOH
INNl'ltANOEH ON IIIKS AMI
(iUANTINO ANNllTIES
September 14th, 1014
The Board ot Directors has this day de
clared a regular quarterly dividend of hit
I'rr Cent. It a. 00 per hare), clear of tax.
pan. tie October 6th. 1911. to stockholders of
record at tha clots ol business Bepumbsr
24tb. 1014. C. a NEW11ALL.
Treasurer.
f& riTTrT Mi
PURE
FRESH PAINT &
iBeieveMe
Blew Up Battleship Retviznn Says
Surrender Was Unnecessary.
GALUSDURG. III., Sept. 11 Edward
Garfield, Russian engineer, who blew up
the battleship Retvlzan at the fall of
fort Arthur to provent its capturo by
Japan, is a shoo cobbler In this city. He
lett Russia soon after the war and came
to tho United States and has since oeen
a resident of Galcsburg.
Tho littvlzan, he siys. was built at
Philadelphia, and cost Russia $7,600,000.
Tho cruUer gave effective berWcc, until
an Internal explosion caused such dam
age that It was necessary to place her
In dry dock for an overhauling. Fal
lowing repairs, she again entered the
service and ably defended Tort Arthur.
Garfield was chief engineer of the ves
sel when h fired the mngazlno and de
stroyed her.
Garileld says Russian soldiers are
brave, but that the officers llvo In idle
ness, luxury and dissipation nnd regard
privates as so many beasts. Tho peas
ants, who conipoo tho runk and rtle tie
says, aro sent to slaughter without hes
itation. They are undcrclothed, under
fed and paid but n trllle, according to
Garfield, whllo the ofllcers high In au
thoitty ncqutro wealth
llnrlleld exhibits two medals which were
presented to him by the government as
u tribute to his bravery during a battle.
"I firmly believe," sas iiiirfleM. "that
the present Ruropean war will I'ft the
oke of oppression from the It.isslan
people Tho Czar will he dethroned and
tho vnst areas of lnnd at pr, - i t tin
occupied will he dlstiitmn.l among tha
poor The Russlnns wl'I then he (,'lven
their freedom while Russia will become
a republic like tho fnlted States '
lrt4" amm H
ft g.-yry. , f tt-sT-i i " jy IIIICy IB
PENN
NATIONAL BANK
i unpi roller's Call, fcep, 12 D14
ASSETS
Immediately Available!
i ash nnl Hehervt $1,. 0(1 ft 'M
he. ks for Clearings UOKitftt
Due from Correspond
ems 441.3SU 61
$1,860,920.49
Available Within 30 Dayst
Pimanl Loans $437.643 40
I ans due in SO dne t 141.270 02
I'nlled States Bonds
tl'ar) . 200,000.00
other Bonds Invest
ments . 580.12S81
$4,229,863.32
The difference between a house and Other Loans & Discounts!
a home is often only a matter of
Paint I
And the difference between fine work
manship, good paints, prompt service
and satisfaction- and the other kind
of a job is simply a matter of
Kuehnle
Painting and Decorating
Ql Our -Ejtlmau rirjt
Both Phones 28 South 16th St. '
Due within I'O days.
iu alter w duj
Hanking Property
$.'.7S 031 rt
I.WU on ;i
2s4 021 .'0
$8,303,917.39
LIABILITIES
Deposits . . $6.S.13.:S3 60
I'tniUtlon 2T9.3i.XJ Oo
Clearing Houtc Cer-
il&catea 360 ono 110
Capital Stock 500 OuV) OO
Surplus 4 ProHts 1.U21.133 49
$8,303,917 39
Always Commercial
M O !!KEIt rubier.
RAILROAD EARNINGS
Wabash Railroad, July gross, $2,64M,
decrease 188,862; net, $789,80, Increase $,-
Chicago Great Western, first week Sep
tember, $275,165, decrease $15,784; from July
1, $2,613,007, decronso $168,672.
Uoston and Maine, July total operating
revenue, $1,222,936, decrease $117,622; net
operating revenue, $812,145, decrease $212,
82S' operating Income, $671,076, docrease
$247,677. .
Midland Valley. July gross, $120,930, de
crease $13,807; two months' gross, $254,270,
decrease $2.1,313.
Rutland Railroad, July operating revenue,
$302,t08, decrease $10,884; operating In
come, $48,342, decrease $27,309: from Janu
ary 1, operating revenue, $1,986,958, de
crease $72,678; operating Income, $242,609,
decrease $8349.
LOW IRON PRICES
CAUSE WAGE CUTS
Mill Employes Will Feel Effect of
Smaller Trade.
PITTSBURGH, Sept. 15.-On the aver
age, tho actual selling prices of bar Iron
In July and August fell below tho low
est level recorded In 16 years. Mill em
ployes will receive lower wages for Sep
tember nnd October ns a result.
At the bi-monthly examination of sales
sheets, conducted by the Western I3ar
Iron Association and tho Amalgamated
Association of Iron, Steol and Tin
Workers, It was found that sales of bars
by selected mills during July and August
averaged 1.09 cents a pound. This ro
duces tho wage rate of puddlcrs for this
month and October to a 105-cent basis,
ontltllng them to a rate of $6.60 a ton
boiling, a material reduction from the
July and August basis.
FOUND HUSBAND, BUT
SOON LOST HER LEGACY
Money Did Not Bring Happiness to
Ten-cent Store Heiress.
KANSAS CITY, Mo., Sept. 14.-Xadlne
Weaver was working ln a 10-ccnt store ln
Kansas City, Kan., for JI.50 a week when
she received a legacy of $1200 a year ago.
Sho had spent only $25 of her newly
acquired riches when Rudolph Dloeser,
the handsome floorwalker, learned of her
Inheritance. In a 10-cent store a girl with
$1200 ln bank Is an heiress. N'adlne and
Hloeser became engaged.
On October 6, the girl soys, sho drew
$1175 from the bank and Intrusted It to
her fiance. He said he "would put It In
n safe place." They went to Des Moines,
Iowa, November 4, nnd were married.
Two days later l gave her $20 of her
own money and told her to return to
Kansas City, Mo., while he went to
Scranton, Pa., "to look for a location."
He said he would also visit his mother
and would return In three weeks.
The girl went back to live with her
grandmother, but her place had been
tilled nt the store. A few straggling let
ters came, explaining that good locations
were scarce. A week before Christmas a
letter came, In which Rloeser Inclosed $25
more of her own money and requested
that Nndlne get a divorce.
"Don't ask any questions, but If you
lovo me, do as I ask," he snld.
Tho girl swore to a warrant charging
wiff dpsertlon and Sheriff Lee Hlnch
brought the husband home from Fort
Wadsworth, Tex., and locked him ln the
Wyandotte County Jail on Christmas
night.
Two days Inter, ln answer tn her hus
band's pleading, sho visited him In jail.
He convinced her that ho had not meant
to dfbert her at all: that although ho
had spent thrc-fourths of tho legacy, he
would pay It back, nnd that If let out of
Jail long enough ho would find that "loca
tion" and they would "live happily ever
nftor."
When Bloeser's case was called ln
court, Nndlne refused to prosecute and he
was released. They lived together Just
one week when the husband left again,
taking with him the residue of the $1175
The "location" has not been found yet.
Nndlno asked for a new warrant, but
Pros-ocutor Meek refused to lssuo It for
fear that Nadlne would again refuse to
pro'.ooute. She applied to the free legal
aid bureau In Kansas City, Mo., but was
told tho 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,
nnd now the decree has been granted
"I don't want to hear that man's
name." she fcald. "It's n ease of 'never
again' for me I'm done with the smooth
talk and oily tongues "
P.O. SCHEDULE,
NOW IN EFFECT, COTS
OFF 50 LOCAL TRAINS
Runs On Others Extended to
Make Up for Loss B. &
O. Asks Aid in Preventing
Car Destruction.
The winter paeoenger train schedule of
the Pennsylvania Railroad, which went ,
Into effect this morning, itlmlnntes to
trains. Five divisions are affected. On
some divisions tho runs have been ex
tended to compensate somewhat for the
trains annulled.
Comparatively few trains were taken
off the Media Division, theie being some
extensions to the present runs to com
pensate for the reduction ln the number
of dally trains to West Chester, on the
Philadelphia division, from 16 to six.
Virtually the same schedule that went
Into effect on October 1, 1913, on the
West Jersey and Seashore Railroad be
came effective today, with the excep
tion that two trains were withdrawn on
the steam road together with several
electric trains.
President Pennrdngton, of the Boo Line,
says that the business of the road Is
about tho same as a year ago. "Ths
grain is moving in volume," he said, "and
we are In line for a good tonnage. No
vember ought to bring out comparisons
that will be very satisfactory compared
with a year ago."
The Baltimore and Ohio Railroad has
oflked Its employes to exercise more enre
ln the handling of cars and equipment,
owing to a Ateady Increase In the loss
due to destruction of cars In accidents.
During the present year 1831 cars valued
at $350,534 were destroyed. This Is an
Increase over 1010 of 253.47 per cent. In
number and 251.59 In valuation.
Without any support from the employes
of the company for whose benefit It was
established, the Pension Fund of the
Canadian Pacific Railroad haa a balance
of Jl.OOO.fJOn. There are 677 mn on the
pension roll.
A plan for the reduction of the sub
urban passenger train service Is under
consideration by Chicago railroads. The
plan Is to take off some of the trains dur
ing the middle of the day when traffic
is not heavy.
The Grand Trunk will build a passenger
station at Black Rock, a suburb of 'Buf
falo, at a. cost ot $100,00).
The gross Income of the Chicago, Mil
waukee and St. Paul Railroad for the.
year ending Juno 30. 1914, was $30,081,6S,
against $31,523,542 last year. The balance,
after tho deduction of interest and rent
als and the preferred dividend, was equal
to 6.3 per cent, on $116,856,400 common
stock, compared with 8.62 per cent, earned
on $116,318,200 stock ln tho previous year.
The surplus for the year was $1,546,710,
against $4,228,213 tn 1913.
Traffic Manager W. C. Maxwell, of the
Wabash Railroad, announced tcda that
passenger fares between St. Louis and
Chicago will be raised $1 on December 1,
and rates from St. Louis to New York
will be raised $2.
Regular monthly meetings of the three .
Reading companies the Reading Com
pany, Philadelphia and Reading Railway
Company and the Philadelphia and Read-
Ing Coal and Iron Company will be re
sumed tomorrow. The annual reports
will be submitted and acted upon at these
meetings. This year each company will
Issue Its own annual report.
Frank W Blair, receiver of the Pere
Marquette Railroad, today tendered his
resignation to Federal Judge Tuttle, In
Detroit. He gave as his reason that other
business demanded his attention.
FRANKLIN
NATIONAL BANK
Broad &nd Chestnut Streets
Philadelphia, September 12, 191-4. -t
RESOURCES
Loans and Discounts $25,797,100.52
Due from Banks 4,539,643.53
Cash and Reserve. ; 7,646,812.82
Exchanges for Clearing House 613,984.16
Clearing House Loan Certificates on Hand 945,000.00
$39,542,54L03
LIABILITIES
Capital $1,000,000.00
Surplus and Net Profits 3,309,206.07
Circulation 919,400.00
Deposits 33,313,934.96
Clearing House Loan Certificates Outstanding. . . . 1,000,000.00
$39,542,541.03
J. R. McALMSTER, Fresldrnt
J. A. IIAHIIIS, Jr., Vice President. J. s,y.M. HARDT, Asst Cuhlir.
K. l. PASsMOltK. Mce President A Ctshler. J. C. PUANKLANn. Ami. Cashier.
K. K. SUIEI-DS, Asst. Cuhler.
Samuel T. llmline
'Ilionms lr Ultt Cuyler
flrnrge II Trailer
IMwuril II. Mniitii
llcnrj Tatnall
,1. Itutlirrfiiril Mr Mllstrr
t'ri-derlcL I. Itally
DIRECTORS
Kfthnhum 11. Morris
Kdirurd T. Htntesbarr
I'ercj- C. Madeira
Ellis Poser l'ammors
J. Andrews Harris. Jr
J. Haiuntun llamss
ii orris i. ciollilrr
' S. W I'arkrd
Charlton arnill
W. tV. Attrrbory
Kdcar C. Triton
Itobrrt C. DrajUn
Kudulph Kills
FOREIGN EXCHANGE IN ALL ITS BRANCHES
($lc$, Jia(ioriat
Philadelphia, September 12. 1314
lUltKCTOKS
T Wlstar Ilruun
George lturnhuiu, Jr.
Uilllam Wood
John I'itcalrn
Charles II. Smith
Henry XV. Ulddle
Charles Wheeler
William T. Elliott
Charles E. Infersoll
O. Cljrrner Urookt
A. A. Jaekson
eaniuel 31. Curwen
RESOURCES. MAIIIMTIKK.
Loans and Investments.. .$16,107,155 20 Capital . tl.Q00.Q9Q 00
Hxchanges for Clearing SunP,! ,and Undivided
House 3S3.S03 37 n.,Pro,nt? elrn'l) 3.7s,40.:6
l'u. from Hanks and neft,.0n ,Ka,H6?-2?
C1.00O,W3M 3.I,04a.Ba
WILLIAM T. ELLIOTT, President. WILLIAM V. CONRAn. A..t.e..hir
ANTRIM II. JONES, 2d Ant. Cai.ltr.
WILLIAM POST, Cashier.
w
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