'f "
INVESTORS SHOW A
DESIRE TO RELIEVE
FINANCIALTENSION
ncoiiragcd by the Better
Feeling Everywhere Ap
parent, They Display Con
fidence by More Active
Trading Prices Higher.
rtmorted successes of the allies In Cu-
'"F . . .. .,1 nlYnnt nn till? Loll"
n are having a t,u" -..- -
01 a .... -.i h. t,Mt.r fee. nB
JL i. nnonrcnt In nnanclal circles In
hi metropolis Is bclnff reflected hero to
, marked deBree. The advance In Ens-
...i. ..!.( dm nliuost sensatlonnl
Ish eonso i ". , ,, ln C0Ulltrv. tlio
ffl "c'oniiuenc- of torclun Investors
E i,. stability of American Bccuri-icB
fc AU c Ivo trading and consequent
aim -- , Woll arrnnt ntirt nn tlin
!Jsher,,p",, r. .rh-ttll contribute to the
KXr feellnB which Is apparent ln near
l? in financial centres and to a renewal
Ily nflScnco ln tho ability of American
Mcra "o successfully copo with tho
J"""1":: ... .iii.-iinn hnf lina for mnrn
ffi'a month enveloped tho financial
Trndon apparently displays far greater
.r..nith and courago than wow iotk,
we for the new 8 per cent. Now York
,... ( European Investors know
iMt high-class American securities nro
lier than their own, und many can
aid that foreign liquidation would not
a heavy it m -i '"'" """ "
hinge reopened next month
An Indication of the atltudo of Invest
,ri Is shown In the feat that there were
'..- knvlna orcleis In tho local market
hi afternoon than thoro has been for
: i..r iimn Fiom abroad camo requests
ir several tvpes of American securities,
lolaoly BianunrH u", uniuu ui ""
touthern 1'nctllc London brokers made
it Inquiries
p.nrnvlvaiila sold for 52: United States
i.i wiifl nuotcd around 4S, nnd an order
or 100 shams at 19 could not bo Illled.
rhro were actual salc3 of Union Trac-
lon nt 40, t'nltcd Gas Improvement at
0 Reading nt it), uainona aicei at 1215.
Is'venil I'lilladelphla municipal bonds
hanged liniul- at ivfb nnu iu.
In the unlisted securities tho special
ommlttee supervising the transfers spoko
tncouraglni;I of the outlook, and ad
mitted that demand for bonds and stocks
of this rl.i H moie geneial than they
had expected.
A betti 1 marknt exists in tins city to
day than ut any time since tho Stock
Exchange closed Committees which havo
been supervising Investment transfers In
both the listed and unlisted securities ex
press much satisfaction with tho turn of
affairs. There has developed a better dls-
MnrtIMnn in tnuln on the mirt nf Investors.
and mnnv brokers nave Been able to
materials reduce the amount of their
outstanding loans, much to the gratifica
tion of the banks, The latter havo given
the traders etery aid possible ln the last
few weeks and there Is no record of any
large loans having been called.
It Is generally admitted that the first
necessity for a safe and sound market
flhen the Htock Exchange shall finally
open must be a return of confidence of
Investors In the securities traded in. Thero
Is but one tva In which this confidence
!tun ue eiiuuui.im'u, namely, uy ine aD
eence of unnecestary nntagonlsin by olll
Hnls nrtllt loin no mirl nt Vinio nnil Viiv (tin
rernotal of rtstilctlons that have In tho
past prevented corporations from con
ducting a sufficiently profitable business
to render their securities attractive to tho
tatlnfft of the people.
Railroads need higher revenues to mako
their securities thus nttractlvo as repre
senting successful huslness enterprises. If
the tranportatlon companies are placed
In a position In which they can obtain
new capital on workable terms It will not
take long for extensions and betterments
to be rellected by Increased orders In the
Iron and steel Industry. In turn activity
will be promptly communicated to the
ether Industries.
FINANCIAL NO rES
Banking history certainly does repeat It
self. Conditions now find a parallel with
those 100 years ago, when this country
was fighting the War of 1S12. On August
. " "" nn , ll-llt UU 111 CBUIiti
Washington, there occurred tho first gen
eral meeting of bankors ever called In this
country. Specie payments had to bo sus
pended, and it hepnme tirw.nccinrts try wirlr
I out an emergency system for tho pay
ment of dally halnnces between the banks.
If J. Plemnnt lllrr,nn .i.oh nil... n
, ---,.-... , (.U.. HUD llll.D IU"
oay, said th iipn,i ,,f n n Tji.iin.t,.t
Phla's Important banklnp houses today,
mere would bo no fear it heavy llnulda-
ll)n Of feeCUrl!le 1,IT rt1n..a..n ImLls...
.. , , . ---..... w .jm Jibuti W,UI(
wmch, it Is believed, would follow tho ro-openin-
of the exchanges. Chances are
mJJh form ll syndicate of American
P.ik . . t0 lnko un a billion dollars'
J""".0' American securities now In for-SlJan-(1
Wnmt to bo made over a
th?dk'..ttt0 t0 ihrre 'eal'H- o P"t
lnrouBh the gp at billion-dollar Steel
th.-- .?': tIlc Betps financial work
dnn. .k,a ,ms "er seo" And ho-d have
one the same in tho present bltuatlon.
hV.,n,ro,,U valuc a Brent man ""I"
"' gone from us."
towSTIm-n J11"""""? conl n August
In fk. lM-'a l0lls. against 5,3C9,900 tons
'.'."JSsW ,n3t year-nn '"
iiillff a,ml. Npw R"Bland nallroad
0 anth ad5' lKe In the amount
this ?CU,; l0al al,l""c'l VT Us lines
rtowiho J'viry "10"th t,,,s 'enr Is ''r
Wmo9n,hm';,mOMth of 10'3- ""1 r tho
Mred ih 2n,lhp '"! "'as !).'C,S03, com
4 with 703.C53 for the whole of last
th9 r ",n"B,.,n PCtl"B t stockholders
"f this lhl t,0,n!V' Truat cmpay.
Jtcaili ttLVl' 'V1' lmel "ummel and A. C.
ww ai iihL7 "-;;! ',lrcctor3 of t" com-
u other officers were re-elected-
n' oTcon!'6 --""""'nt of tho
tible L ,mP,,ny. that " wl" at once
crude 01 the T!nt..of lta Purchases of
dependent BJnUo",ne P"10 I''ne- n 'n
Y It 11 tlT'lr; .t,wt "ennlns to.
"ill take all oil Its customers offer.
?rth Butte Sllni,"nmea t0day by th"
" Per cent nfIlnl"K Company at about
towtto & me,rPacUy' ,v,n emly
oS?3 3Wtt0nnsCr"?,;t,er Ports have
83 tons ' n"a Blnc! September 1
I'aluf nVIDENDS DECLARED
&?'' "Mrm.t'e'S,Vein" ."'Pany. regular
e. 'l"r"r?1"nS..an4 ,Jhtlng Comny.
V'ember sS tl '.", .J .l'tr ""' payable
.orltVn T'-i-.k ri"ra September 17
&1 " "n."", .?!!,& r.KUlar;-quarterly
-., .
iaf-.,..v "uidkviis
1 ftWa nVi!, ,OK
. .111 .7l II IKS
.
M
Ll'i Board uf irfyl"ihtr ,'"'. 10H
Sfi a rWL;,L1"' l.or" ha ihl day d
fHUi o,! 1 . lJr kbure), iUar o( tax
Sfi'4 thJ" ?"' VJ.li- o itVckholderi of
C. 3. NEWHAI.L.
iicMiurcr.
l!i V 3UJS Li I
'IWWIl"i' "I I ! ! 1 ,!,! WW ! II
FORESEE TRADE BOOM IN
LEATHER AND WOOLENS
Xocal Interests Learn Conditions In
England Are Favorable.
leather nnd hlgh-grndo woolen cloth
manufacturers In this city may expand
their trade by taking advantage of con
ditions In England, according to advices
received by local Interests. Information
from London Is to tho effect that tho
director of contracts for tho nrmv re
ports a market In the Ilrlllsh trade for
chrome upper and hrnvy solo leather.
A man In close touch with tho shoo
trade declared that whllo this may bo it
good thing for one leather manufacturer,
It will mean nn Increase hero In tho prlcj
of shoes. A consul hna advised that a
number of European commission mer
chants, who had been eeltlhir Clcrmnn
shoo findings and leather manufactures,
expect to visit this country to get In
touch with leather men here.
Tho Information ns to the high grade
woolen cloth mnrket also comes from nn
American official. It Is to the effect that
manufacturers who make grades of this
cloth used In men's first-grade clothing
should bo'nblo to mako good connections
ln England It t also set forth that a re
liable buplness man desires to get In
touch with manufacturers hero In these
lines.
M3DGi2R-PmLADJELPHIA, TUESDAY, HEPTJEMBKB 15, 19U
vmam
i Is
' M
SOUTH AMERICA IS
A PROMISING FIELD
FOR NEW UTILITIES
American Capitalists Plan
Invasion to Upbuild Won
derful Resources of That
Country.
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.
The winter passenger train schcdulo of
the Pennsylvania Itallroad, which went
Into effect this morning, eliminates B0
trains. Five divisions oro 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, thae being some
extensions to the present runs to com
pensate for the reduction In tho number
of dally trains to West Chester, on the
Philadelphia division, fiom 15 to six.
Virtually tho same schedule that went
into erttct on October 1, 11)13, on the
West tUrsey and Seashore Railroad be
a.fiit effective today, with the excep
tion that two trains wore withdrawn on
tho steam road together with several
electric trains.
President rennslngton, of the Soo Line,
says that tho business of the road Is
nbout the same as a year ago. "The
grain N moving in volume," ho said, "and
we are in line for n good tonnage. No
veniDer ought to bring out comparisons
that will be very satisfactory compared
with a year ago."
The Italtlmore and Ohio Railroad has
naked Its employes to exercise more care
In the handling of cars and equipment,
owing to n steady Increase In the loss
due to destruction of cars In accidents.
Iluilng tho present year 1S31 cars valued
nt ?!"0,GS1 were destroyed. This Is an
Increase over 1!)10 of 233.47 per cent, ln
number and 231.53 in valuation.
Without any support from the employes
of tho company for whoso benefit It was
established, the Pension Fund of tho
Canadian Pacific Itallroad has a balance
of $1.000,COO. Thero are 077 men on the
pension roll.
Tho gross Income of the Chicago, Mil
waukee and St. Paul Railroad for tho
year ending June 30, 19H, wns $30,031,631).
against $31,523,542 last year. Tho balonco,
after tho deduction of Interest and rent
als and the preferred dividend, was qual
to 6.3 per cent, on $IlG,So5,400 common
stock, compared with S.62 per cent, earned
on $116,3)S.20O stock In the previous year.
Tho surplus for tho year was $1,515,710,
against $1,225,213 in 1913.
Traffic Manager "W. C. Mnxwell, of the
Wabash Railroad, announced today that
passenger fares between St. Louis and
Chicago will bo raised $1 on December 1,
and rates from St. Louis to New York
will bo raised $2.
Regular monthly meetings of the three
Reading companies tho Reading Com
pany, Philadelphia and Reading Railway
Company nnd tho Philadelphia and Read
ing Coal and Iron Company will bo 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. Blnlr, receiver of the Pere
Marquette Railroad, today tendered his
resignation to Federal Judge Tuttle, ln
Detroit. He gave as his reason that other
business demanded his attention.
RAILROAD EARNINGS
Wabash Railroad, July gross, $2,649,453,
.leu-ease !SS,3C.'; net, $739,&QI, increase $13,.
5U2.
Chicago Great Western, first week Sep
tember, $275,153, decrease $15,784; from July
J, $2,613,097. decrease $168,672.
Boston and Maine, July total operating
revenue, $4,2.'2.9SG, decrease $117,622; net
operating revenue, $SI2,145, decreaso $212,-sjs-
operating Income, $671,075, decrease
$247,677.
Midland Valley, July gross, $129,910. de
creaso $13,307; two months' gross, $231,279.
ileeronse $23,313.
Rutland Railroad.July operating revenue,
$302,!?0S, dec! ease $I0,SS1; operating In
come $18,342, decrease $27,309; from Janu
ary 1, operating revenue, $1.9Sfi,958. de
crease $72,578. operating Income, $242,009,
Ueerease $5319.
PENN
NATIONAL BANK
Comptroller's Call, Sept. 12, 1914.
ASSETS
Immediately Available:
Cah ana Ilesene . $1,209, n.lO.St
Chucks for Clearings . UD.8S9 -J 7
Uuo Crom Correspond
ents 441.380.01
$1,860,920.49
Available Within 30 Darts
Demo nil Loans 1407,543.40
Loans Jue In 80 days 1,141.270 02
Hi ltd Slates Honda
(I'ar) 200.000.00
Other Uomls A Invest
ments SCO, 128 SI
$4,229,863.32
Other Loans & Discount! !
Due ultliln DO class. $2,784,021 Oft
Due ofier 00 la .. 1,000.01121
Hanking Property .. 241.021 20
$8,303,917.39
LIABILITIES
Deposits $3.S.',.1 281 BO
circulation 279.300.00
flearlutt lluuse Cer-
itruauM sso.noooo
I'apllul Siottt soo ooo oo
Surplus & 1'rotlts 1.0.M 333 80
$8,303,917.39
Always Commercial
Jl. C. HAUEIt, Cashier,
Public utility operators In this country
aro turning their attention to South
America as n, promising field for tho es
tablishment of new electric railway,
light, heat and power companies. Com
mercial and manufacturing Interests havo
already laid definite plans for tho capture
of that country's Immense, trade, nnd now
tho organizers of public servlco corpora
tions, uacjted by tho electrical supplv
houses, are arranging to tako advantage
of a situation which tho Kuropoan war
has brought about, and which promises
to open a big new Held to American In
vestors. It la logical to expect that, with tho res
toration of peace In Europe, there will
como a demand for new capital with
which to repair tho damage now being
dono by Invading armies. Naturally,
whatever capital may bo In tho hands of
Kuropoan financiers nt the closo of tho
war, will bo needed for constructive de
velopment In their own particular coun
tries. This situation, unforlunnte ns It
may be, will bo America's opportunity.
For many years, utilities In South
America have been financed almost on
tlrely by European capitalists. American
financiers have had their hands full at
tending to the wnnts of the public In this
country, which has upward of $8,000,000,
000 Invested In public sorvlce corpora
tions. Tho South American situation has
been almost entirely lost sight of, nnd It
wns only recently, when exporters hero
began a determined crusade to capture
tho trade of tho South America republics,
that this field as a possibility for the
development of utilities wns given sorlous
consideration.
The 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
the line of utilities. National resources
of tho most Inviting character arc await
ing to be turned to practical use, and
they need only American brains, backed
by American capital 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 lnvndo tho field and
develop the great power possibilities that
have for decades gone to waste, because
of tho lack of sufficient enterprise.
In the more prosperous countries, like
Brazil and Argentina, there has been a
marked development recently, Influenced
almost entirely by financial aid from
London, Brussels and Berlin. Particular
ly has Germany been making good prog
ress, because of the closo connection be
tween Its money Interests nnd tho South
American Importers, who have been for
years ln close affiliation with each other.
In tho past, with foreign capital large
ly Interested, purchnscs of electrical sup
plies, whenever practical, were made
abroad. With American capital doing the
financing, however, the American elec
trical concerns will, naturally, get the
greater part of the business.
Total trackage owned by the 1260 street
nnd electric railways In tho United States
In 1912. according to a census bulletin
just Issued, was 40,470 miles and 649 miles
leased. About one-half of these compa
nies had their own power plant equip
ment. Tho total capitalization of tho
operntlng companies was $1,703,568,141, of
which $2,384,344,513 was capital stock and
$2,324 223.62S funded debt. Those lines of
railways carried In that year 12,135,341,
716 passengers, of whom 2.423,918,021 were
on transfers and 165,809,023 ware free.
Continental Gas and Electric Corpora
tion has acquired the properties formerly
controlled by Iowa-Nebraska Public
Service Company, which was placed ln
the hands of receivers something over a
year ago. The properties taken over aro
Nebraska Gas and Electric Company and
Iowa Gas and Electric Company. Tho
transaction Involved $1,250,000. ruuds
for the purchase were raised through the
salo of becurltles of the Continental Gas
and Electric Corporation to the Conti
nental and Commercial National Bank
and the National City Bank of Chicago.
By a decision of the Supreme Court of
Appeals of West Virginia, the West Vir
ginia Public Service Commlsson has al
most unlimited power over rates and reg
ulation of public service corporations op
erating ln that state.
CHICAGO LIVE STOCK
CHICAGO. Sept. 15. HOGS Iterelpts,
13.mo; market steads-; mixed and butchers,
$S 3010.40 Kood nnd heavy, $f WJ'oU 2S;
rough heavy, SSgS.US: light. $s C3f(U.4i; i.Ibh,
Sll 2.V3S 00, hulk. JS40fl) CATT1.K Itecelpts
7300; mnrket slow, liioves, J7-KIVU: cows und
heifers, ?4iili 73; Blockers and feeders, JO jnffli
S2S: Texans, I'.SOU R0; raltei, ft) Sold'.!.
SHHKl. Itecelpts, Sii.nuo, mnrket strong, na
tho and Western, .rna in, lambs, $3.7508.30.
BANK CLEARINGS
Clearings of hanks todn;
follows
ion ion 1912
Philadelphia. S2.t.4HS.fi2S fm.'.KS 017 $2(l.llt.7
riislun .. 10,171 71 I'dHlSMS .10 111107')
Now York 160,818.220 301,409,927 338,irj3.04.l
ay comnarcd ulth tha
corresponding day for the last two years
STATEMENT
Corn Exchange
National Bank
Philadelphia
September 12. 1914
RESOURCES
Loans & Investmeiits,$20,01 1,942 87
Due from Hanks 3,673,777.38
Clearing House Cer
tificates 340,000.00
Clearing House Ex
changes 665,70161
Cash and Reserve 5,509,262 27
S30,2U0,081. 3
LIABILITIES
Capital $1,000.00000
Surplus anil Net Prof
its (Earned) ..v.. 2.016,102 25
Clearing House Cer
tificates 1,28,000 00
Circulation 783,300.00
Deposits 25.116,28188
530,200,681 13
NEWTON W. CORSON.
Cashier.
UNION TRACTION HOLDERS
TO PROTECT TRANSIT PLAN
Will Take TJp Matter at Annual
Meeting Tomorrow.
Protests of stockholders of the Union
Traction Company against any plan
whereby the company would lend re
sources or credit to the Philadelphia
Hapld Transit Company for tho develop
ment of transit facilities In Philadel
phia, In accordance with the plans of
Director of City Transit Taylor, will
bo presented at tho annual meeting of
tho company, which will be held to
morrow morning at tho offices of the
Philadelphia Itapld Transit Company.
The protests, which have been gath
ered by James O. Halfour and John SI.
Fogelsanger, slnco the announcement of
Director Taylor's plan, nre understood
to constitute a majority of tho total
outstanding shares of the company. Mr.
Balfour would not glvo tho exact num
ber of shares.
During the meeting tho protests will
be presented and tho stockholder: will
probably be asked to vote on them or
to report them to tho annual meeting of
tho stockholders of tho Philadelphia
Rapid Transit Company, which takes
place a half hour after the Union Trac
tion meeting, tho latter being at 11
o'clock.
I PHILADELPHIA MARKETS
i i i i - - '
LOW IRON PRICES
CAUSE WAGE CUTS
Mill Employes Will Feel Effect of
Smaller Trnde.
PITTSBUnOH, Sept. 15.-On the aver
age, tho actual selling prices of bar Iron
In July and August fell below the low
est level recorded In IS years. Mill em
ployes will receive lowor wages for Sep
tember and October ns a result.
At the bi-monthly examination of sales
sheets, conducted by tho Western Bar
Iron Association and tho Amalgamated
Association of Iron, Steel and Tin
Workers, It was found that sales of bars
by selected mills during July nnd August
averaged 1.09 cents a pound. This re
duces the wage rate of puddlcrs for this
month and October to a 1.0" cent basas,
entitling them to a rato of 5.C0 a ton for
boiling, a material reduction from tho
July and August basis.
DIVIDENDS PASSED
Each day brings news to the financial
community of the passing of dividends.
Today the Nova Scotia Steel and Coal
Company passed dividends on Its pre
ferred stocks, and tho directors of tho
Calumet and Arizona Mining Compnny
said that the dividends usually declared
this month will bo passed.
FOREIGN EXCHANGE
NEW TORK, Sept. 15. The foreign ex
change market opened dull but steady.
Tho market was confined chiefly to ster
ling. The quotation for demand was $l.9Sa
rti4.0S4. Cables, $1.90',,4.99U. The price
paid for marks was 96?ic. Paris cables
opened at $5.10 bid.
BAR SILVER
Dnr silver wns quoted In Ijindon today at
23 15-ll3d a decline of 11-1IM. Commercial
bar sliver In New York dropped ly, cents to
02 cants.
ASK BOND EXTENSION
Tho American Malting Company Is send
ing circulars to tho holders of $2,400,000
of the company's bonds outstanding, duo
December 10, 1914, asking them to consent
to an extension until Juno 1, 1917.
PROVISIONS
Ihill nnd weaker. City beef, In et. moked
nnd air dried, 310Me i Western beef, In ;
smoltcd, 31fifl2e.; city beef, knuckle anl
tender, smoked nnd air dried, 32tf.1lc. West
ern beef, knuckles and tenders, amoked, Mg
3lc.i beef hams, -MB lie , Irh. M.'n"y, -W
STC. hams, S V. cured, looie, KWl0tie.,ao.
skinned, loose. ISWIflo do., do.. mok ed.
1810e.i other hnmi smoked, city cured, oj to
hmnd and uvernite, Wide , him, n0.K'
Western cured, lswl'ic , do, boiled, bonnlW".
2SH2no . picnic Hiouldrrs. H. P. eurei . 'oo'ft
-fun An.. mniil. itolttie.: bellies, in
uinK u uvprHKv, iuu-iu,
lilfl I Sc.
meH e. ncror
breakraBt bacon, as to brand and average, cjjy
cured, 22fi2lc- breakfast bacon, Wern
cured, Mflblci lard, Western. .refined. I lerces.
MWIIlVKc. do., do, do,, tubs, ''"Ws;
lard pure city, kettlo rendered, In tierces u
!",
ll?4l2c,
SUGAR
HKFINni) firm, but qulot. , Standard
granulated, T.10!i7.r,V ; line granulated, i 1-nt
7 r,0j. powdered, 7 D.VnT.ROr- : confectioners A.
7 l.Mtf.sOc.l soft grader 0 1',07.0'jC.
DAIRY PRODUCTS
Mttle trading and prices barelr
w York full-rrenm, choice, loyt'tf
do. fair to good, 15'4lc i do,
CIinESK
'lefcuy. New
UUTTriH UecelptB light and , markt
firm with demand fnlr'v nctHe. "V."'
freih, tnll 1-paeked cren-nnrv, fancy spei Wis,
:i4c : exceptional lot hUlmr extra, 2,f'?;i
extra flrsti, -tic. nrits. 2li'.(UVjC. ; ecndf
270S 2Sc. . ladle packed, 2 1 23c .as to qual
ity! nearbv prints, fancy. 33c: do., average,
extra, ."Bile do., firsts, JoflMc.. do., , sec
onds. 27f!!ic Rnecial fancy brands or prima
Jobbing at RdfillP. ..
KWiS Deninhd good and aupplles we."
cleaned up at full figures, ln free ases. near
by extras. 31c. per dor..: nearby firsts, '
per standard case, neirby current receipt,
7.iWJ7.o per standard cae, "tern i-xtra
firsts, fS 10 per cine, do., tlr-ts, $i.50U7.SO,per
case: do., seconds, 50 rowl l"i per caje Can
dled and recreated freih eggs wero Jobbed out
at 33iM7e. fcr doz., as to quality.
POULTRY
LIVE Tho market quiet with fairly
liberal offerings nt former rates.
Kols, choice. 17filx do . poor and thin.
HlBliUi" . tld roosters. Ilffl2c. spring rhlek;
cno, fine, laipo, Ufftc . do., medium l".'-
Wide, ducks old l.'lf714c do . spring, 14
fr,e i guineas, young, per pair. nnifjSOc. : do,
old., fpUc. ; pigeons per pair. I'.ffJlSc.
IHII1S8I3H Fowls well leaned up at lata
ndnnce t'hlckena quiet Fine, heavy squabs
llrm (Juotntlont .
I-rc.h-tilled fowls, Western, per lb , selected,
henvv. 2l''jc : extra. 50 V : average receipts
4iri'j lbs average, ISTftlic : do, smaller
sI7ps. UVAnifiip : old ino'ters. dry i.lrked
lL"4e ! broiling ehlrkens, nenrhy weighing Vi
Wl lbs npleco, IdfllOc : do . fair to good. Hid
ISC. chickens. Western, 3i11c. lbs. and oyer
- , ,. ., .... .,,,, IKu nnlnnc lfi7f
ITe broiling chickens, Wi stern, weighing 1'4
2 lbs ITWISP.i do fair to gnnd. tMj 10-.
squabs, per doz.. whito. weighing lKitJ lb",
per dox f 1.1.-17 1 M; white, neighing. tlfTlu
lbs. Per i
r07.,,
weighing B lbs
Ibi per anz ,
1.7,"2i do., do.. 0 to OH lb per doz.. H.-j
IV
per
Jlfn 73: white,
no..
tier dor
fS.li!W!.lli 1
1.-0; dark and No. 2, OOcajl
VEGETABLES
Potatoes well cleaned up nt full figures.
Other rgctnbles generally steady.
White potatoes, per bush.. Pennsylvania
choice, 73ffiD7."c. i do., fair to good, fififf flic ;
white potatoes, Jersey, p"r basket lownoc. .
sweet potntoe. Eastern Shore, per bbl., No. 1,
SI. 731742.3.; No. 2, ric.ffil: sweet potatoes.
North Carolina, per bbl.. No. 1 S1.7.ri32: No.
2, "OCiJJl: sweets, Jersey, per bbl.. No. 1,
$2.0003, No. 2. Jl.,",0!l.7.-i: sweets. Jrsey,
per bket, WiiSiUOp. , onions. Western nnd Con
necticut, Vnlley. choice per 100-lb. bag. $1.23,
onions, medium. p-r lno-lh. bag. 31: cabbage,
domestic, per ton. $12GZtl: celery. New York,
per bunch, 12ifI30c. : mushrooms, per J-Ib.
basket, COc.0Jl.OO.
DRIED FRUIT
Apples more plentiful and barely Bteady.
Other fruits sold fairly and values Generally
well maintained.
Apples, per bbl , Virginia flravensteln. Illush
and Summer Itambo, $2r,0ffi3, other varieties,
yi..oirf 2 30. npples, Delaware, per hamper. 30
WCOc. ; lemons, per box S3f I : pineapples, per
crate, Torto Itico, J 1.2., iff :t 23 : Florid i. Sift
2.30; cranberries. Capo Cod Early Ulnck per
bid H.nOTt3. crnnberrli' Cape Cod, Early
Black, per crate. Sl7."tf?2; tranberrlea, Jer
sey, per crate, dark, $1.7.,fi J 23 ; light, $lli
2.23; huckleberries, per qi . Ifiific ; peaches,
Virginia, per 20-lb. basket, 23 30c. : do., do.,
pr crate. 73c. If 51 30, do Delaware and
Mar land, per basket 23(f73c , do., do., per
rrnte Tfle.ffiSl 2." . peacnes, Jersey, white, per
i-hasket, 40cJtl; do., do., jellow, per
THE PHILADELPHIA
NATIONAL BAN
Philadelphia, September 12, 1914.
RESOURCES
Loans and Discounts $39,623,603.77
Clearing House Loan Certificates on Hand. 2,090,000.00
Due from Banks 8,341,745.36
Exchanges for Clearing House 1,203,554.99
Cash and Reserve 12,345,834.09
Customers' Liability under Letters of Credit. 2.098.415.00
$65,703,153.21
LIABILITIES
Capital Stock $1,500,000.00
Surplus and Net Profits (Earned) 4.936,130.64
Circulation 1,842.597.50
Letters of Credit 2,109,942.S0
rj .. Individual . . . $33,143,433.63
Deposits: Bank 22.171.048.64 55,314,482.27
$65,703,153.21
LHVI I,. RUE.
President.
LINCOLN GODFREY. HARRY J. KI'SER.
Vice President. Cashier.
HORACE FORTESCUE. WILLIAM S JIADDOX, IMVID W. STEWART,
AsslHtant Cashier, Assl.stant Cashier. Assistant Cashier.
DIRECTORS
N. PARKER SHOUTIUnOE. Clmlrmnn of tho I3oa.nl.
RICHARD ASHHURST, PERCIVAL noiH'HTS. Jr., SAMt'EL RUA,
LINCOLN GODFREY, (H'Oiir.I II. MoFAnDEN. PintPF S DI'PnVT
GEORGE WOOD. EDWARD T STOTKSHI'RY. L' Z. . ' . ",
ALFRED C. HARRISON, EFFINGHAM It. MORRIS, THOMA.s f; i.ATLb.
LEVI L. RUE. RANDAL MORGAN, ASA S WING
GEORGE II. FRAZIER. It. DALE IIENSON SAMUEL M. VAUCLA1N.
Accounts of Mercantile Firms, Corporations, Banks and Bankers Invited
Foreign Exchange Bought and Sold. Letters of Credit Issued
September 12, 1914
Gi
THE
1 &Y a 1
irara nauosiai
Bank
ItlCHAltl) I.. Al'fiTlV. rrrlilfnt JOSKm 1,V1XK, ait.. Mre-I'-rklUent
T. 11. W1EUEHSIIKIM. Vtce-I'rr. uml ('miller
tll.s 31. AsllTON, At. Cashier
I)Ilti:CTt)ltH
I'ranrU II, Ite, Chulnnuii at the Ilouril
Illchurd J.. Auttln Ituljerl Tolanil l'runrU It Ite.u'. ,Tr,
Duntel llauxli Um. Nmltiiia Kljr in. . IruI.r. ,lr.
(irurxfi i:. liartnl 3lurrU I.. Cluthlrr l.i-i.rcr I) Itux-neurtrn
Itoilmun f. (irl.com John (irlbliel (lurnin M. (lark
J. .Mauran Kltudi'K tivurk'e .Mtl'uildeu Iluratlii i. 1 latil
W. Frederick Mi) ilvr Jnrpli Wu.ine, .Ir.
RESOURCES
Loans and Investments $30,915,150.19
Bonds to Secure Circulation 2,994,000.00
Clearing House Loan Certificates 190,000.00
Exchange for Clearing House 986,711.22
Due from Banks 7,211,598.10
Cash and Reserve ,.,.,,,.., 7,634,344.93
$49,931,804.44
LIABILITIES
Capital ,..,.., $2,000,000.00
Surplus and Net Profits, ,.,,.,,... 5,037,114.31
Circulation ,,,,,,,,,. 2,183,200.00
Bills Payable t , , , 500,000.00
Deposits ,.,..,, 40,211,490.13
$49,931,804.44
basket, 'Oc.Oitl par, nearer. T ',
Hattlett, No. 1, 3.B0' do.. No. 2. 2.T6(il
3.U5; Clappa Favorite, No. 1, $8.G0tJ5! do.,
No, 2, I2.7B03.25; other varieties,, 3i
frrapea, Konthern Delaware, per carrier, Oi
7Co. j grapce, Concord, per crale, 40(300c.i
plum, per 8.1b. basket. 2025c. ; cantaloupe,
Colorado, per erale, tiai.r0; do., do., nata,
40(3!7oc j do., Maryland, per erate, 2SWo. i
watermelon. Bouthern, per car, 50(aiOO( do.,
Jersey, per 10U, 8(31o.
GRAIN AND FLOUR
WIinAT nerelpla, 107,842 buthele. There
was an unsettled reellni-, but no quotable
change, reporters showed little Interest. Car
lots, In export elevator. No 2 red, spot and
B-ptember, Jl.O-ffl 10; No. 2 red .Western,
I0'ffl 14: No. 1 Northern Ouluth 1 2IWl,2fl.
. COllN neeelpls, 17,428 bushels. Dull and
2e. lower under Increased pressure to sell
Car lots for local trade, as to location, No. 2
yellow. SOWSOWe steamer yellow, 85'4flWc.
OATR Itecelpts. 120,7015 bushels. Demand
llcht and prices 2'ic lower with more liberal
ofTerlnns. No. 2 white, il24T.2'io. ; standard
white, r,mnr.2e No. 3 white. B18l'4o
rr.OUR necelpts, 8S5 bbts., 047,120 lbs.
In arks. The market dull and weak under
general preeure to soil. Winter, rlenr, $1 ;S
qfi, do., stralnht, JS.2B; do., patent, B.40
ISO, Kansas, straight, Jute sarks. IS.25'?S. IR:
do, patent, Jute sacks, $3riWJB,71i eprlnit,
drat clear. KQr,.2'. do., straight, Si.2Mti.fiO;
do , patent, iS.OOffOj do., favorite brands,
0.2 7B, city mllW. choice and faney patent,
(! 210.7Si do., regular rrades Winter, clear,
$4 7M!, do., atralght, IBSB.BO, do., patent,
-.,. V)Hrt.
1IV1" FT.OClt Qnlet and barely steady,
at 5WC M per bbl , In wood
GRAIN TO MOVE FASTER
British Ship's Arrival May Mark
End of Stfifrnntlon.
With tho arrival here yesterday of the)
British steamship Ventmoor, from Nor
folk In ballast, to load a full cargo of
grain, shipping men believe tho stagna
tion of grain exportation Is at nn end.
Two other vosscls, the Lund nnd the
f"urlchmoor, aro nlso under charter to
lond full cargoes of the product for thn
United Kingdom or France, nnd an In
creasing demand Is making Itself felt ln
the charter market for similar contracts.
The Danish steamships, Kronhors.
Uranlenborg, Skjoldborg, Dansborg and
Hsron. and the British steamship Mo
zart, are now lying at anchor off the
Delaware Breakwater awaiting orders,
nnd It Is expected that some or all of
these vessels will bo sent here to carry
out some of tho grain.
CHICAGO GRAIN PRICES
Quotations for Cereals find Provi
sions and Fluctuations.
CHICAGO, flept. IS. The; quotations for
grain and provisions today were!
Leading futures ranged as follows!
Wheal- Open. ltlth. Low. close
September 1.02V4 J.JbU 1.02H l.Ofl
December l.7, LOTH 1.08 1.00
May 1.13U 1.16 l.M 1.1814
Be&er:..'-'' 7B TO JW
Oats .. ...
September ........ 45, 48 4S t'
December 471 484 47H My
May WW MH BOH -
Lard . ,
fieptcmber ........ 'i
October B.25 0.27 0.2B P.2.
January .... B.87 B.02 0.8B 0...
lllbs- ,, h.
October .......... ..... .ii .i'ii ;.",!
January 10.70 10.70 10,70 10.CI
January 20.40 20 40 20.40 20.2B
tAsked.
OBEAT INCREASE OF IMPORTS
Trade Boomed Month Before War,
Report Shows.
Enormous Increases In Imports of ho
slory, knit goods, automobile, silk manu
factures, cloth, carpels, dress goods nnd
wearing apparel for July of this year,
tho last month bpfore tho commerce was
Interrupted by the 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 46 per cent,
other knit goods, 51 20 per cent., Class
1 wool 7.31 per cent , and articles classed
ns manufactures of wool 13.30 per cent.
Tho July gain for 200 products used by
Mr. Brown to show the effect of the Un
derwood tariff was per cent. ThlB Is
the heaviest Increase for any month sine
tho Underwood bill became effective.
ENGLISH CONSOLS HIGHER
ConBots nre strong today at CSi, an
advance of Vi on tho war news. Gold
shares are firmer.
The Bank of England placed 1,000,000
Metropolitan Water Board bills for six
months at nn avprage of 3 6-32 per
cent. It Is expected that a special effort
will bo made to achieve a spectacular
result ln the 15.000,000 Treasury bill
operation tomorrow, because It comes
nt the same tlmo as Germany's first war
borrowing.
Fourth Street
National Bank
Philadelphia, September 12, 1914.
RESOURCES
Loans and Disct-tints $35,258,438.05
Customers' Liability under Letters of Credit 926,959.49
Due from Banks 7,486,494.71
Exchanges for Clearing House 1,164,798.47
Clearing House Loan Certificates 190,000.00
Cash and Reserve 10,074,988.35
$55,101,679.07
LIABILITIES
Capital Stock $3,000,000.00
Surplus and Net Profits 6,880,512.96
Circulation ' 500,000.00
Letters of Credit 926,959.49
Deposits 43,794,206u2
$55,101,679.07
ACCOUNTS OP MERCHANTS. CORPORATIONS AND OTHERS SOLICITED
TOREIGN EXCHANGE IIOCGIIT AND MILD. LETTERS OF CREDIT ISSUED.
E. F. SHANIIACKER. President.
JAMES HAY, Vice-President. V. A. BULKLEV. Asst. Cashier.
1". G. ROGERS, Vice-President. W. K. HARDT, Asst. Cashier.
R. J. CLARK. Cashier. C. T. SHAW, Jr., Asst. Cashier.
numerous
SIDNEY F. TYLER. Chairman.
RI'DtT.PH ELLIS
FRANCIS I GOWHN
ISAM' H. ''LOTIIIEU
C. k W PACKARD
E P. SUANUACKER
JAMES HAY
"RANK T. PATTERSON
CHARLES I t'RAGIN
WILLIAM A. DICK
UrFINfillAM H MORRIS
" R. NICHOLSON
JAMES M. WILLCQX
T. i" du PONT
E. W. CLARK
T1MMAS S GATES
W ILLIAM de KI1AFFT
FRANK G. ROGERS
FRANKLIN
NATIONAL BANK ,
Broad and Chestnut Streets
Philadelphia, September 12, 1914.
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
$39,542,541.03
LIABILITIES
Capital $1,000,000.00
Surplus and Net Profits 3,309,206.07
Circulation 919,400.00
Deposits 33 3J3 934,95
Clearing House Loan Certificates Outstanding. ... lio0oo0o!o0
$395427541.03
.1. K. McALI.I-TEH, President.
J. A. HARRIS, Jr.. Vice PrclJent. j. WM. II RI1T. Aut Cashier,
E. V. 1'A.MORK. " lc President Cashier. J. O. i-KANKLAWI. A(. Cshler
K. E. blllKLDS Asst. Cn.hler.
Samuel T. ltnrilne
1 humus De Wilt tujler
Grume II. 1'ruiler
Ki!urd II. Smith
llilir) Tutnall
.1. Kutht-r'iird MrMllstrr
IrrderliW L. Daily
DIRECTORS
Elllnslinm II. Morris
Manl T. Mol-turr
K,.,.cr.c- "Iudrlru
r.llw Pilar) Patamore
J. Andrew llarri-, Jr.
J. llamnton llurnrs
Morris I Clothier
C. S. "V. I'srUard
t Imrlluii "mrna.ll
. W. Att.-rliurr
Ldgar '. Frllou
Ruder! C. Drujrlan
llu.lulpli i;uu
FOREIGN EXCHANGE IN ALL ITS BRANCHES
60tc ytdL&wl
Philadelphia, September 12, 19H.
DIRECTORS
T ttlstar Ilrnwn
GrurKH lluruhuin, Jr.
Ml!lain Wuud
John I'ltcalrn
Charles II. Hmllh
llrur . Illddla
Churles "t hrrlrr
Hilllum T. Elliott
IlKiOUHCKS.
Loans awl Investments... $J5,l07455.o Capital
Exchanges for Clearing
llouso
Put from Uanks and
1 Linkers
Cash and Reserve
Charles E. Inrrol
('l)inrr llruuLe
.. A. .luckiiun
Humuel M. Curuen
I.IAIIILITIKS.
Surplus anil ITndlvtda',!
263 so' 37 I'ronta (earned)
ztj,-u..3T cireutatlon ...
3l,otii,oi:i.S3! r
un ;lZr,,",,l W"-LIM V. CONRAD. Aut.Chlcr.
WILLIAM POST, Cshler. ANTRIM Hl jo.NES. 2d Aisl. C.ihlcr
Jl.CWO.ftW.OO
3.673.484.3
397,TS.C4
J",S19.SS7.ST
l,(X)l,013i!
''I
SHI
5 J-jjj.f
!1 I
I
m.
;fi
: :. it
Jft'i CI
uma