tmVl-v-i JSVEIG fttoaEB-PHIJAPESlPHIA, WBPJEgPAY, SiapTBMBER 16, lOU 18 Iial an5o)mmercial situation at homeand R?!g MtYPERMIT BOND HOUSES TO SULiin LARGER BUSINESS Financial Situation So Much Improved lhat nxcnange ill Be Asked to Allow Salesmen to Go On Street. .. .oeh Improvement Ha been nolod "" .... r.w dalfl In tins i'linnueip.i.a "..I. markota that the special lav"- " iinr bond houses dealing I"1". r. . m 1ms nrranncd for a L"e "marrow .th the special com " .. 7 . .ho Stock Exchange, dealing In ;S hut only shall they put SfwX ISlM of securities In which their "ffilSuL 01 e directly Interested, affile not to permit mo, e trading E rr. :' . nd bdnd. t hicn win i.c i ...d the matter of eendlnfr out sales t ViollClt business under ccitaln ic- "ilhis been such an active demand '"".Vim. , especially fiom Individual "f 'Vhl't the committee on unlisted w .r.r. feels the tlmo Is now opportune Hta more Beneral trading market. i , ,. -ninion that, tne situation 11 .L materially sticngthoned were Z ?ta?S InvUed to come Into the l" J. In ft forger way, and Us sugges Eto he Stock Bxchango will bo thaf stt. ".".. h. nllnwed to canvass for hmd """ ".". - ... i,ii ihv TM lucn. B11(.UUraKe direct tnvest- .... for cash only, so that the.e might ?nidded relief to the money strln 'through the liquidation of bank S?M b.oke.s disposing of the Sttlts This now business would, of lead to an Influx of new capital, ?mS 'the banks are just now In need of. i .t the samo time It would perpilt & to ?M oft some of their heavy Mtli the understanding that such sales. I, srmlttea, will be mbjectcd. as to rii the scrutiny of the special coin- lttr and no tiansfeis aio to bo made WhWt the committee's sanction. Shou d i Stock nxchange committee ngreo to ike-proposltlon, it I" expected similar rules win be laid down for tho govern- Z nt of sales In ll-Ucd securities. It 1j a decided tribute to the con- ".H..A t American Investors that SSStoi been lacking recently that talk if the exlstcnco of near-panic conditions ?' St! -.nnl.l .nnrkcts which was np- went lmost everywhere Just after the '" : , i h...i.o.i (nil tho Mlnck ex- KK tiero about to discontinue bust Mi The public generally lias come to realize that the coiintiy's credit Is safe In he hands of those who dominate Its and It Is disposed to take a Ulmer and moic hopeful feeling of the teneral situation Contrast the feeling toda with that of three or six months ago In inference to the need at all of the Now York or other .loci- exchanges. There were t lioic who for years, had made It u consistent habit to try and batter down cvny argument In favor of exchange trading and who tire-loud In their demands Hint the o:. bhanges be abolished because of their fco illed "high-handed methods" and their kbsolute unncccsslty. These same calam iit,niM nrn intlav loudest In their np- tlili for an early reopening, so that the tanporary lull In all lines of business, duo to the war situation, may bo superseded lr that enormous iraue uuuiuinm:iii Wch every one expects ivlll follow the jeitoratlon of peace In Kurope. It Ji (o their credit that these same In UkijV if now going out of their way tohjfplA every way possible to spread thUjjctrJne of confidence that particular Ittrfbute which, moie than anything else, ll u badly needed nt this tlmo to give ItrertfltlJJo those nt tho financial helm hoiWperalstcnt in tholr endeavors to 19 itiape. the situation as to best con ert'tM Interests of tho entire country. London has appreciated the necessity for (Ms restoration of ronfidence by en tourajlns foreign investment In American lemritfes of high grade. Xow Yorki re rectlnr the foreign Bentlnmnt, is main taining an equal amount of stable cou ervatlim, and Philadelphia likewise, as 11 as the other big llnanclal centres e( tht country. Is doing Its share to trentthen every weak spot that Is to bo fount. There Is a brighter feeling everywhere. lnreitora, confident that tho situation, for rJch there never -uas a parallel, Is a'owljr but surel adjusting Itself to tormal propoi lions, aro coming Into the irl(et again, and both the listed anil illited atocks and bonds are display Inianacthe interest which Is In every Jjf tratlfylng to bankets generally. There is a general willlngnes to do busl "", and the expectation la that It will " only a short while before thero shall ' readlus,tment that will work out iwthe benefit of all concerned. To what extent conditions Internation al j e '""'roved Is rclloctcd In the tutude now assumed liv many loading Makers Tho do not see the necessity lor ' WMtlon of the lCO,000,(iOO In gold IJM, as uas recornmeiiilid, to relieve the weljn exchange bltuatlon. It wua this rised position hi the part of the "Wera that prompted the Reserve Bo.nd " "inounce that, in Mow of the Mate nt that S"f Yoik Utv hail completed rrintements for her maturing obllga ,',"' rti fr providing for the noeessarj ''a jemlttancea to i;utope. it felt that In tiii at" 11 neceasary t0 tieate the gold HNANCIAL NOTES .C"'enn,lal .National Bank, of this city. HiUiJ.i,tllcLrew suel Institutions In em Phla nlcl1 llas "ot taken out any ertl8.y c"rreney oi Clearing llouso lorr itn nl ouce '" t,, bank-s his Charin. vva' u necessary to ongago ieier?.1 !l0u'e certificates. Its cash ami UrliiM i . L.0'08" "f business Septem B ,w1"'0l0-9M ' Hownnl Clark. tatHutto"" & C ' IS "esltIet oC tsMUnJi j'? ome of u"' -Vmerltan SmoMh! nd "en"'ng Company for the rlodT,r W,th 6-67l.6U In tho same ?ctbL ,ha P'ev'oui vear. After total IHwtT La adminlBtiatlon expenses. . r"' and nn.rpr,i .11..1.1 , .. ... M la liVi W0S '.eU l,"mPa'e' with 'Walnii j? tonimiMi stock this WUur n.H, .VLr telu- ln ",e tor'c- .period of the previous vear. The K91mon,hs waa m-2 'e.t.'.;"nu"ce'? ln Washington that ,atency currency"" 23.O.00O T,wFcomng,en m "r f U'e Ba"ker" "Ptionecompanj " ola,e 0 fiom ZV SulltaBUry gained rri. h'tSi.vM ieatery and since. 8mic"?o0l tlhTPen"s-'nla Pub "i JtV.lt V,ommlM'on 3 questioned by 3 'hat bodv . '" a, 8tatament filed - a, w ni HiiiHr ino rrtm. lui, C411"! can Jl . . ""e,"er tie co CahT" ,,taUo' t Scranton. Pa ?4te.11'' :rm.a" ars .ecreta er- bulld- ecretary V, t today at im home at Scabrlght TRUST COMPANY RETURNS Made Good Showing: Despite the Market Stringency. Considering tho condition of the money market and business generally the Phila delphia trust nnd saving fund companies made a good showing ln their report to the Commissioner of Banking for tha call of condition as of August 27, 19H. An accurate comparison with a year ago canont bo made, because the call for the approximate year was made In Novem ber Inst year, and thore were only two calls compared with three thus far this year. It Is the belief that another call will bo Issued before the end ol the year, probably ln November. The Commercial List and Price Cur rent, In Its regular tabulation of the re turns made, 'gives the following totals for the principal Items! Capital, Wr 729,643; surplus nnd Undivided profits, $89, 162,386; deposits, )il2.0ZO.42l; and loans and Investments, $457,-131,833. UTILITY MANAGERS WILL GET CLOSER . TO GENERAL PUBLIC Street Railway Men of Country to Adopt a New Platform of Principles. Drastic Laws the Cause. Recognizing the Importance of establish ing cordial relations with tho public, the American Electric Railway Association, at Its annual convention, to be held In Atlantic City, October 12 to J6, will formu late a declaration of principles embracing what It believes to bo a statement of what these relations should be. A committee representing tho strongest men In the electric railway field In this country haB been at -work whipping tho formal dec laration Into shape, nnd the roport which will bo presented to the gathering was ilnislied nt a meeting hero today. Public relations Is the most Impoitant topic ln the minds ot public utility cor poration managers nnd operators. Re cently throughout tho country thero have been put Into effect drastic measures gov-t-rnlng the financing and operation of utilities, especially the street railways, and It Is tho belief of the association that thcie should bo properly presented to the geneial public Information ns to what tho readjustments are and what will be their erfect, especially upon that part of tho publlr: which has money Invested in the securities of public service corpora tions. Tho association represents virtually ivtry important electric railway on the North American Continent nnd n very Inise number In South America. An at femhinco of betwoen four and five thou sand railway men Is expected at Atlantic Clt, and In spite of tho depressed busi ness conditions the exhibit of electric ialUsa appliances and apparatus will cover more than 70,000 square feet of floor space. The association consists of a par ent otganlzatlon nnd four allied bodies covering the engineering, accounting, claims and, transportation departments of railways, so that during the five days of the meeting thero will bo five conventions in continuous session and more than 70 committees will report. Vitli a capital stock amounting to $1, 361,500, a corporation Is being formed to provide most of the clectricnl service for York. Pa., and a considerable portion of York County. Tho new company, known as the Kdison Light and Power Company, will include tho Edison Light and Power Company, the Merchants' Kloctrlc Light. Heat and Power Company; the Lower Windsor Township Light, Heat and Power Company; the Spring Grove Light, Heat and Power Company; the Jackson Township Light, Heat and Power Com pany, and. the Heidelberg Township Light, Heat and Power Company. Atlantic City residents have proposed the construction of a high-speed electric railway along the western edge of In sldo Thoroughfare from Longport through Margate and Ventnor Heights to lower Chelsea and thence to a junction with the main line of the Pennsylvania Railroad on the meadows. In a proposition which they will submit to the Pennsjlvanla Rnilroad It will be pointed out thnt the motive power and rolling stock of the Vest Jersey and Seashore Railroad could bo applied to tho Longport extension. Residents of Riverside, Rlvervlew nnd Muhlenberg Park. N. J., are interested In n plan to provide electric railway service between Riverside and Tuckerton. Tho Ohio Public Utilities Commission has placed four men In Cleveland to make a physical valuation ot the prop erty of tho Cleveland Telephone Com pany This is the first big physical val uation job undertaken by the commission since the public utilities law was amended by the Legislature In 1913, giving nu thorit to do this work. About $50,000 was appiopiiated. DIVIDENDS DECLARED New K'nsland Telephone and Telegraplt Com pjny. regular quarterly 51 73, pamble Kp. umber iici to stock of record September 16. I'ubllo Servliei Corporation of New Jener, iFKUlar quarterly of 1, per cent., payable beptunber 30 to stock of record September S5. American Window Glass Company, a divi dend of 7 per cent, on the preferred stock, iiauble September i"0 to itock of record a'ep. tember 2a This makes 27 per cent, paid thus far this sear. Crown rteserva Mining' Compan. regular monthly 2 per cent , payable OUuber 15 to smelt of record September 30. Knlly-FprliiEfield Tire Company, regular quarter!) I'j per lent, on tlrnt preferred and li per cent on second preferred Checks fi be mailed today. WAR OPENS GREAT POSSIBILITIES FOR FIRE INSURANCE Ame'rican Companies Look for Big Business Because of Stringency Abroad Gov ernment Places $3,225,000 War Risk Policies. The Insurance business has been ad versely affected by tho European war, but probably not to such an extent as other line. Insurance men say that although they notice some falling off, particularly ln (lie Insurance, It has not been on any large scale. Then, too, they declare, the war has opened up greater possibilities for tho Amcilcnn Insurance man, becatiso customers have evidenced a disposition to discriminate against foreign companies, particularly those of Franco nnd Ger many, on tho ground that their policies With them would not he as safe as with an American company, for tho reason that all of the money the forolgn compan ies have Is needed now at home. Insuranco men explain thnt this should not be the case, as, under tho laws, for eign companies doing business In this country aro compelled to keep a certain surplus In the United States to meet their obligations here, and that anyone wish ing to patronize n foreign company should not hesitate In doing so for this reason. Hut then, all In nil, there seems to bo a disposition to favor American companies when any business Is to bo done. The falling olt in tho fire Insurance business, it is pointed out. Is duo primar ily to tho fact that tho war has cut down exports and imports to a minimum, nnd consequently there Is no need for largo Insuranco of warehouses where Koods nre kept pending shipment. This falling off has boon In part compensated by war risk Insuranco, which has thus far balanced tho Bcales, but for how long Insuranco men will not offer n prediction. Tho marine business on coastwise ship ping and to ports In South America Is running nlong about tho same, as is tho business to England, although a slight fnlllng off In the latter has been noted. 'The Insurance business In Europe," snld an Insurance man today who returned io cently, "is nt a standstill because of the war." Taking this Into consideration, then, there aro groat possibilities for the American Insurance man, both at home and abroad. I'rom Washington came tho announce ment today that tho Treasurer of War Risk Insuranco has already Issued war Insuranco on cloven essols. eight of which ply between this country nnd Pouth America and three engaged in European trado. The total Insurnnce carried on these vessels Is said to be about $3,22S,C00. Tho bureau nlso has pending war Insur anco applications amounting to $1,000,000 to be carried by n fleet of eight vessels engaged In tho European trade. SEE NO RELIEF IN FINES Grain Brokers Thinls; Helmting Will Continue Under Present System. The Imposition of fines on officials of the Pennsylvania Ttallrond and Keystone Warehouse nnd Elevator Company by the United States Court on tho charge of re'oatlng will not change conditions. In the opinion of grain brokers expressed todry. It will not assist the grain men, they declared, as long ns the elevator company was operated by Harvey C. Miller, one of the men who was lined. To tcmcdy conditions It w.-s suggested that the Pennsylvania Railroad take over the elevators and operate them under the Girard Tolnt Storage Company, as it now does with the Olrard Point and Washington avenuo elevators. "What wo want now," one pi eminent broker said, "Is a guarantee that all grain brokers will have nu pqual oppoi tunity to make use of the elevators and favoiltlam will not bo shown to ai one firm. If the Pennsylvania Railroad would take over the elevators r feel we could get a square deal, but I doubt if it will do so." PORT OF PHILADELPHIA Sl'UAMSllIPd AJiniVIXG TODAY frnni (Nor.). Cape Ilreton Ma New Yorl., ballast. W. J. OrandHeld. Vltolla (Nor.). Stamford, Conn . ballast, W. J. Grandfleld. Steamships to Arrive Name. West Point Maine ... . OarthaKlnlan dtampalln. . Kulderdl, 11 Mariner From ...london . Ixindon . HItsow. . (lenoa. . .. Itotlordam .. ..Manchester FOREIGN TRADE SMALLER Both Imports nnd Exports Fell Off In August. WASHINGTON, Sept. 16 -Imports Into tho United Stales In August were lower than any month since November, 1011, ac cording to a statement Issued by ths De partment of Commerce today. Exports reached tho lowest point since August 1, 19(0. Imports of merchandise were 129, 390,496, compared with J137.6St.55J In Au gust, 1913, For the eight months ended with August, 19H, Imports amounted to $1,269,S92,S69, ngalnst 1.1B6,M0,228 for a similar period ln the preceding year. August exports amounted to $110,337,Mo, compared with $187,909,020 In August, 1913, while for tho eight months ended August, 1914, exports amounted to $1,311,319,707, compared with $1,616,182,157 for a similar period In 1913. LOCAL CONTRACTORS EXTEND OPERATIONS TO DISTANT STATES In Last Ten Years Philadel phia Builders Have Be come Strong Competitors in Open Market N'ever befoie In tho history of building hns the Philadelphia contractor been such a strong competitor In the open market Ten years ago it was almost like perf aiming a mlrnclo to obtain work of any sle more than a few miles out of town, and Philadelphia contractors re garded It ns a- waste of time nnd money to submit bids on distant work. Today tho Philadelphia (inns will not only oBti mnto on work anywhere In the United States, but have succeeded ln running many out-of-town contracts. Not only oc casionally but almost any day In the week on tho estimating boards In the larger ofTlces will be found many large out-of-town Jobs. This change of af fairs la principally due to tho following reasons' Klrst. The local contiactor, like tho Philadelphia Iawcr, has gained u far reaching reputation for skill and cill cloncy. Second. Tho coniplclncss of tho organ ization of most ot our large contracting firms enables them to carrv on tho con stiucltori of a building 100O miles from Philadelphia with the same celerity and e.victnrss as though it was a stone throw from their olilce door. As an illustiatton of the magnitude of this out-of-town business, it was learned after a visit to only three of the leading contrnctois. Crump & Co., Itwin At Leigh ton, nnd .1. i:. & A. Ij. Pcnnock, that their combined work for the year amount ed to more than VO.OOO.OOO, and was being constructed In such distant places as Oklahoma, Chnrlcstown. W. Va. , Dayton, O.: New Haven. Allegheny City; Ilnrrls burg, Pa.: Atlanta, Gn. ; Montreal, Can ada; Clnclnnntl, O. ; Indianapolis, 3ml.; Ann Harbor, JTich.; Detroit, Mich.; Now York City; Newark, N. J.; RulTnlo, N. V.. and many other large cities throughout the United Stnte' The above films by no means have a monopoly of this distant work. Jinny ot the Government postofTices throughout tile country nre being done by our local contractors, and tho satisfaction they are giving in tho line class of building con struction cannot help but stamp the Phil adelphia contractors ns leaders In the building world WHEAT STRONGER AS MARKET HEARS LESS OF EUROPEAN PEACE Heavy Demand From Mil lers at Liverpool, Where Prices Are Better Gen eral Buying in Chicago Pit? Steamships to Leave Nainf fioentd-.!. Haerford Ancoua . . For. notterdani . I.Uerpoot . Naplea Date, nppt. 17 .Sept. to Hept. 1U FREIGHTS AND CHARTERS STUAMSHIPS Kymouth (Ur.), Gulf to Pranie, srain, S'.'.Ctri Quarters, ?3. Od , Sept. Herredale (Ur ), Gulf to Marseilles, grain, 30.000 quarter. 3j.. prompt. F'ram (Nor.). 1702 ton. Philadelphia and Druill trade, one round trip. 4i Ttjd.. prompt Hero, 241S tons (Nor.), trantatlantlo trade, one round trip, private terms, fcept. Hoiton (Noi), 73$ tons, Halifax to United Kingdom, apples, prUate terms. Sept. Concord (Dr.), IS-'o tons, riawnnali to I'nlted Kingdom, or Continent, cotton, etc . CSj 0 , prompt. Kuropa (Dan I, S71 tons, WeH India trade, IS months. 3CO0, Nov. ricir.o (Ital ). Jlattlmor lo vest coast Hal), coal, private terms. CHICAGO GRAIN PRICES BERLIN BOURSE Woid was received here todav from i . ., - , , , ti.rn.. announcing that settlements on Quotations for Cereals and Provisions the tiourae had been postponed from the Inst of September to the end of October. Intel est on commitments was fixed at G'i per cent. TOREIGN EXCHANGE NEW YORK. Sept. 16.-Koreign ex. change was dull and easier today, with demand quoted at 11.93 and cables at There were no quotations in Continental Exchange. RAILROAD EARNINGS JERSEY CENTRA!. tuU. Deireai. July oper. rev. (U C. f ). .12,512. 0JT Hlii-J Operating Income .. 7113,85.1 1M.UMJ (SEQUOIA SOUTHERN AND ITC.ORIUA First wee September I43.:1M JI.SIO yr0m Julv 1 450.rat H.Suu " DAITIMORE ACT OHIO. July operating revenue.. . .JJ.HI1.CSS fSTs.'M'.! Operating Income 2.00U.740 381.01!) increase BAR SILVER Bar silver In I-ondon today nag up J-IEd to "Jl'id. In New York commercial bar sliver Jumped c to 531 tents and Fluctuations. for 'Hli'ViO sept It! The quotation RiRln and provi'ions toqay were Leading futures Wheal Open Itish Urn .'lose September . . Iieiember Lorn .new arii.v.7?, upvn l. iuii ...nt i iur 1 Oil, I Oil, 1.07 l(Hi, I in i io, i ii i I rip, I 17 1 I7'i I lo' J MS September U3ceir,per May Oats Beptemuer .. lietemVer Ma lard September October Jaimarv ... ltlbs September . October . January PorK September . January Bid 7rt 72 74H 4fU'j K1J 77', 72?; 7&S 7 II', 4H, 4U 5'i SI3U 70 no U. M !0. 17 n.::a low 7i, 71'i 71 4Vs 51S 0.211 ;i 27 no." 10.83 10 0J 20.M 20 S3 . ii r . ILJ2 10.85 10I7 17.N1 20 SO 21X02 OIL PRICES CUT AGAIN The Imperial Oil t'ompanv has reduced Uis srlt-e of audc oil - a barrel to 51.41 LIVE STOCK QUOTATIONS flinCAGO, Sept iaHOOS Receipts. "OOOO. markets, SO1 10c. higher, mited and butcher. t3&81MS. aood, hea. S t'-90 -3, rousC hvy S.10SS 7S. luttat. 7U0 ,,lWs. MbS. bulk. JS sMJfl 1&. i"ATTl.E.-Reelpts. i&tOO head uia.kJi leidy to Oo lower bee, 7 40U iiy .o nd heifer ll.Oa30.6O tcu-Uer. nJ feeder .40a25 Teian !;. ,"" 9 6012 21 SHEEP Reieip s odiM a i-et- I t , i ...,, We it o t"5' i Ui' Cilr CHICAGO. Sept. 16 Tlieie a re newed confidence In the buying side in the wheat market today. Prices opened firm, with December up 18 cents, at 11.01. nnd May up 2H cents, at 11 17 Weak longa weie eliminated on tho teieut set backs and the market was belieod t' be on a. far better basis than it was seven daja ago, when pi Ices wen II1 cents abovo jeaterday's low point. Thero was n l.irse export trade on the rectnt l setbacks. A heavy demand for wheat fiom mill ers was leported at Liverpool, seivlnp; to i educe Tiritlsh atocks and lellevlns the coneestlon In tho United Kingdom. The receipts In tho Northwest were again heavy and atocks are accumulating there The scene In the pit this mot nine was wild, with commission house.-, in general bujlng; and offerings scattered and Inade quate. Less was heard of peace talk and the news fiom the other side was believed to indicate a prolongation ot the atiug ele. Prlce3 at Liverpool neie sttoucei. While supplies thero are .lmple, the ac knowledged lurgo i equipments of coun tries other than Great Britain had a tendency to cause pronounced firmness In the distant month at Liverpool. The visible supply In Europe amounts to C5, 70I.W0 busheH, ntrulnst 11.344,000 bushels In the previous week and 70,000,000 bjshels a year ngo. The weather In the United Kingdom is more favorable and native wheat Is moving fieeli An otllclal report places tho condtion uf ulieut there at $1.04 The French crop, wluvli hns all been gathered, hat turned out better than had been expected, wlili the quality as a whole fair. Tho weather In France Is now seasonable iirpoiis from German iilllclul circles know tli.it the outturn of wheat in that countrj was below epe9 tntiuns. Ttcpoits from Russia ate con flicting, but it is believed that the yield will be stunt and of infeilor qunl!t. fieri erlcial rains have fallen In India, but shippers there are maintaining firm prlc3 and offerings are light. In Au trnlia the weather Is dry and the crop outlook unfavorable From Argentina weather and crop accounts show im provement. The receipts at Minneapolis and Ouluth today were 1481 cars., ngalnst 123J cars a car ago; at Winnipeg. J220 cars, aguinst iss cars; at Chicago. 12-J cars, against I6fi tars. Corn was stronger on lisht receipts and a better inquiry from the EaM Decem ber and May opened up at Ii nnd 7lj to H. respeotlvely. Prices at Liverpool were down Ild on liberal plnte offerings and larger stocks The leceipts of corn here toda were 105 cars. Oats were strong on heavy speculative buying. An enormous business was done All over-night offers weie accepted Bal timore Is now outdoing Chicago at many Illinois point December was up 't at the opening at 49. and Mav up 4 at 5t The receipts of oats here todav weie 19 j i.i'! rhccondltlonofoats.il ih" I'mied Kioi'om is ullKiallj .daced at 9i NEW HAVEN R.RJILL SPEND $1,500,000 TO ELECTRIFY LINES Directors Meet Tomorrow to Indorse Project - Have Already Spent Nearly $16,000,000 On New Electrification. A contract for supplying electric powet lo tho Now York, New Haven and Hart ford Itallroad and the New York, West chester nnd Boston Hallway, made with the New York Edison Company, Is ex pocted to be concluded at a meeting of the directors of the New York, New Haven and Hartford In New York to morrow. The plan Is to have the Kdison Com pany supply power to the New Haven between Woodlawn nnd Now Iloehclle on the main line and to tho Harlem Klvcr and Port Cheater Ilallroad between Harlem Itlvr-r and New nochclle. Cur rent will be supplied to tho entire system of the New York, Westchester nnd Boston Hallway, The clectrln rotio of the New Haven 1 ,'cw 1'aven icciutrcs about 200. 000,000 kilowatt hours of electricity. It Is estimated that the cost of curent pur chased from the Kdison Company and that generated by the subsldlnilcs of "!? Now IJaven will iun between 11,100, 000 and Jl.o00.000. New Haven has nlrcndv spent approximately US.000,000 on electrification. The holders of nearly nil of the 6 per cent, first mortgage bonds of the Arkan sas, Oklahoma nnd Western Itallroad, on which semiannual Interest was defaulted on Julv 1, havo joined with the bond holders protoctlvo committee and depos ited their bonds with the Heal Kstate Trust Company, the depository of the committee. Tho nominal time limit foi depositing the bonds expires today. Mem bers of tho committee paid, however, that they expected to receive the small re mainder still outstanding. The annual icport of thp American Railways Company for tho flscnl year ending June 30. 1!14, shown a total In come of the company from subsidiary companies as $1,036,301, compared with $593,412 in the previous yenr, an increno of $42,319. After deductions of $H:',J32. ngalnst, $IG8,C0S In tho previous year for taxes and miscellaneous expenses, the net Income was $393,828, compared with $321,933 In 1113. The net Income ! equivalent to 0.7 per cent, earned on $'3,713,150 common stock, nfter paying 7 per cent, on $2,0"O, 000 cumulative preferred stock, compared with B.7 per cent, earned on the same amount of common stock In the fiscal year ending June 30, 1913. Tho next nnnual meeting of the stock holders of the Southern Railway Com pany, on October 13, will mark a new c'ra In tho history or the company, as It will be the first meeting at which the 12.000 stockholders have had tho oppor tunity to vote dlrectlv. the voting trust. in evistencp inco the organization of the company In ISO!, now being in proreM of dissolution. According- to leport, .". L. Schoon maker. who has been elected n. diiector of the American Locomotive Company, will, nt a meeting of the directors In the near future, be made chairman of the board. The election of Mr. Schoon mnker to tho directorate will mean the climlnntion ot all factional differences. ERIE R. R. MAY CREATE NEW $300,000,000 MORTGAGE Call Issued for Meeting Next Month to Consider Plan. Cieatlon of a refunding and impiovc ment mortgage of approximated $3uii000. 000 will be considered at a special meet ing of stockholder of the Krle Uallioad. to be held In New York October 13. In the call for the meeting it Is pointed out by directors ot the compare that thu moitgage Is planned to cover the piop erties rights and franchise or the t nil road. The annual meeting of tlio com pany will be hold on the same da COTTON A GOOD ASSET Secretary of Treasury Will Approve Investments at Market Value. WASHINGTON. Sept IS -Secretaiy ot Treasury McAdoo has announced th.it In nppiovlng tho assets of bonding com panies dolus business with tioveinment ottlclalb. he will approve as assets anv reasonable investment lu rotton at the fnlr market value, of the cotton Following upon this dnislon it was nald today. It Is expected that the bond ing and insurance companies piobably will make substantial Investment m cot ton, and stote tho product in order to aid In financing the ciop ot the South. PHILADELPHIA MARKETS GRAIN AND FLOUR llllHAT Receipt, 38.68B bushels, market strong and advanced Vc. under bullish specu latkn In tli West. Kxport Inquiry fair. Car lot, In export ("levator Mi, ,2 red, t pot nnd September. tl.0731-12; No 2 red West ern. l lial.16, No. 1 Northern IJuluth. COKN lUcolpls, C000 bushels; price nd nnrfd lc. with more dmand ami stronger Western advances. far lots for lorsl Hade, as to location No ii yellow, 87ftS7JSc s steamer yellow, HU'j 87e. , , OATS receipts, 70.095 bushels: market strong and lWc higher In smpathy with tho West, . . ,, No. 2 white. fVM4'5i5-le : standard while KlflKI'Sc.i No. .1 white, MiJUSle .,.-. ri.OClt Receipts, 12BS barrels: I 21.,.B0i pounds In sacks. The market dull nnd prices largely nominal, but undertone nrmer In sympathy with whal. Winter clear, '"' 15 i do., straight, flf!.25: do., patent. S5.40 tSdi Knneas, straight. Jute "at"v :V2,? ti.sr,; do., patent, Juto sacks, f&.ilOfiin MM spring. Orst clear, $B0n.2A; do., straight, I3 26r8.BI: do., pafnt, $B BOgO. do., fnv orlte brands. S0.20n75: city mills, rholcn Atid fancy patent. tO.UBWfl 75, do., regular grades Winter, clear, 4 "Odin, do, straight, in(rr,0; do., patent, S r.orO ItVIl fl.OOIt Quiet and steady at IS S.0U per tibl., In wood. PROVISIONS The market was dull with ampin offerings t the recent decline City beef, In sets, smoked ami a", dried. .1lgn2c , Western beef, in sets, smoked 31 32c ; city beef, knuckles and tendr smoked and air dried, 32n4c . Western bef knmkles and tenders, ernol.ed, .IJWQlHc . beef bnms. 4r.ia4.lc. , pork, family, J.1t27r : hsm, S. P. cured, loose. IBViWlUV.c , dn . skinned, loose. lBlifffl6e.; do. smoked. inc. other hams smoked, city cured, as to brand and cured, 18?I0c. J do., boiled. bone!es, 2S'ii2Hc. , picnic shoulders, fi. P. cured, loose. 12fff I2r. , do., Btnoked, 14fl I'jr. : bellies. In plrklo. ac cording to average, loose, Kl18 . hreakra" bacon, as lo brand and average, rliy cured, 22fl2lc, breakfast bacon. Western cured. 22ft24r., lard. Western reOned, tierces, II a ll4e.: do., do., do, tubs. 11'iia 1 1 5c , lard mim city, kettle rendered. In tierce. n;ni2c: lard, puro cllv, kettle rendered In tubs, 11 "4 (3 12c. SUGAR Refined quiet, but firmly held Standard granulated. 7 .'HMj , , granulated. 7.2S4I7.t0c : jioRdercd. 7.10c. , confectioners' A i.15i..I0c grade", (1. I5TJ7.0V. DAIRY PRODUCTS lll'TTI'll Tlnmnnri fnlrl.' active market firm under light receipts. Western ,,A.h Bnit,t.nalnrl ernnmerv. fnnrv eneclals, !l4c. .xeeptlonal lots higher, extra "-, 32.c : estra firsts, :tlr flrts. 295ii,.nii. ; seconds, 27'5(H28'jc. , ladle packed. 21Gi2.1c , ns to quality, nearhy prints, fancy. 3-x;. : do. average extra. 3;fa."le , do n.nt". ot'l'if do. seconds. 27ijT20r Special fancy brands of prints Jobbing nt infr,41c nutlS Desirable stock In good requeit and firm. Receipt" nnlv moderate In free cases, nearby extras He per d,. : nenrb' 'lrsts, S.S 10 per standard case nearby cur rent receipts, S.7.r.lfii)7.h0 per standard c in an to quality i:ui,i;:rc. buyers New 18'4c , do . O part sklmsi Western extra. flrt, M" per ,cs ; rtM firsts, ,S7.B0ifI7 BO per-ran;! do., setirmds, fl w on) per raso. . Candled and reerated fresh eggs were Jobbed out at ajtJiaToy t"r' "' u 4a nitallltr. t l S WM'MWv do., fair to W2'".,il'"l4uc' l.nn-The market quiet, with fairly lib eral ntrcrliigc at formrr vatrs ..",,, Powls, '"Iflflc ; old roosters, lief tze : spring rhlrken. One, large, 7jilS. do. medium jr slses, lr.fllrkv. dliclm eft; IWMJJA'W!?"'" " lllrlle , gulhenj., per pllr. yWlJg, -wefgHIn - pounds nnd over apiece, Me . do , weighing I pound an'ece, COc. , do,, old, COr ; plgeflns, I'iSJlV. pounda apiece. Wc . do, -MRlilng per mlr ir,4lKe . . . DltHHI III) Kins heavy fowls firm Chick ens quiet and unchanged Quotations Fresh-killed fowls. Western, per lb selected, henvv, ailie , extra, 2D'4o., nverago rece pts, t'(f4li It". avernge.-i'!WtC(t do, fmalter tltest HJAflii4,e.. old roosteW. drV p eke-1. 13'ie J - oroiiiiig cniencns, nearly, vvcignjng , f .'" oo , rair to goou, hm me niece. lOT.?,. chickens. Wo.tern. 8Wrl lb9.npcc. ,r .ii i . !Kfl.nill n piece IM Vrnll Ihs. squat pep lbs. ins i. Vftern, weigning e ...!' 17IRc'f do. fair 'o guod. IBB 10c . Jh IC' per dn per dolr nhltej- weighing 1Jri)1 do? , t inif (.'), white weighing, nip 1o . -!5i't 7B: white, weighing per cloy . t- 2.vn2 BO, rio . do , 7 lbs per nue 7..'iim soft nnd llnr , M 7BW2' do do. OfTOli lb per dol , $1 21T1 BO iiark and No .' mi "?! 1" FRUIT Apples In f.nr request aiW s'eadf pihef flults shoned little hsnge Apples per lihr.. frtnev, USO'iJl, nlodliiiil 1 iMifiSno, Delawarrtper liatpper, BOtrflnr I te.nnns per Unr'SWI: I'lnenfiple, pei1 cra, Porto itPo i 2fie,2rr. .Fiori-is, nifsrm 'raiiberrles Tape rod, Ilarlv Ilfiiek. per bbl , tli'DWB: pffr crale, Jli7SiK2( jersoy per crate. dark. M.'ftftS 2.", IlglJt. l fl Imckieberrlc. per ur, 1fflc ; peaches, Vir ginia, per a.-tli ImsLet. JStiWIo,: do., do, per crate, 7Bc Wt1.R0; do Delaware nnd Mart land, per bnsket, 2."if7Bc ; cln . dn , per frale. 7Bc WS1.2B: pen, be pennsvlvonia per hasket, tnrgo while or vellow, ROiFilHir., me dium, afiffBOc. : .lersev. while per S-bnskei, jfkn tfltl- An tin vollntv rter 8. Imnket tl.( . fi, peiirs. nearbv. per bbl. Hartlett. No. 1, Con- v-l i ,,'. ', iff 1 i .,. . I,',. ...,-.1".. ,,'-. a ..f..,, rf?t. nanp nunrliv. ier bill . Hartlett M WlfHSl do.. No a, 2 7BW3 2.": CtaprTe Fb vorlle. No. 1. S.I.BOgB: do.. No a. vjiw .1.-.. other carlotles. ?2W'I. grnp.s j. .uin- em Delawnres. per carrier. WS," ,e : coid. per crate, 4KJWe , plum. per basket, 2nti2r,e . fantaloupes color in i ." crate. $lfU.B0. do, Oo . Oats. -Huajn. .. 1 Marland, per crate. 2Bi?0nc. , Whtcrrnolons, Southern, per car. $7,tblW. do., .loreev per 1W. t15. ' "VEGETABLES Potatoes firm and active. Other ve.etahle Rencrnllv steady White potatoes, 4cr bushel Pennsylvania choice, 71i7.V do., fair to c-ood irrfKike . white potafoe. Jerscs per bas ke. WilCIf : sweet potatoes i:..stern Shore per larrel, No 1, si.7B2..'15. No 2. 7.'.cl: iweetM, Jersev. per barrel. No. 1. 1 o'n- No 2 7.V(8$t sweets, ter barrel. No t e20'ufl: No 2 SI BOl 7". sweets, Jersov p, r basket aosfWie onlnn, Western and fonnertl :at valley, choice, per 100-pound bag. $1 2."., do medium, per 100-pound hag M: rabbnge do mestic, ptr tun, $12fll4; celen, New Yorl , pec bunch 12Tinfie , mushrooms, per l-p.uni! lnket, BOca?! RO. TRACTION HOLDERS HAYE ANNUAL MEET Rapid Transit Earnings and Sur plus Show Decreases for July and August Union's Fixed Charges More Than $6,000,-000. of Philadelphia and the Commercial Trust f'ompany, trustee. This rnak.'s a. tot.il of $3,000,000 t bonds Issued under tills deed of trust. ' During the year the Philadelphia, fliipld Transit Company has paid otir rental, and han largely ridded to tin rolling stock used in the street railway svstcni. ns well as to tho equipment for furnishing motive power." WILL VOTE ON S1 00.000 LOAN Norrlstown Council Sets Aside Veto of Burgess. NOIXRISTOWN, Pa, Sept ln-Notus-town Town Council, hy h vote of 23 to 4, todav passed over lluteeas Paul's veto, the ordinance submitting to a vote of the peopl In November a JlOO.Ou) loan for the establishment ot a savvaee disposal plant, demanded by the ;3tate Health Depart ment. SUBTREASURY OPERATIONS Statement of Philadelphia. KuBtreasm operations Jlondaj and Tuesday of this week follows , Sept 15 Sepi It ...,,. r.eHeJ $U15.i51& 5:t2.7J l-J.tl dUburtel , 71U.7H 60S HI L;urrnc .rwin .,c.w, , 'ir martmeilt Currency eni Tramy l) partinent , Hold crttrals series of JOOO HiitnwJ Slockiioldtrs of the Philadelphia Rapid Transit Company nnd the t'nion Traction Company held their annual meeting to day. The report of opetatlon of the Philadel phia Rapid Transit Company for the month of August and for the first two months of the fiscal year, issued todav after the mcetlns of the directors, shows that e.uninjrs of the company have fallen on for the month ot Aurusi and for tho two months, when compared with the pame months of la.st year, while operation expenses weio pared down In August ns well us for the two months. Instejd of i a surplus ln August the company had a ! deficit. Gross earnlpgs ol the ompany in Au gust were tl. 912.970, compared with $1, !i70,OI2 in tho sumo month of 10U. a de crease of 2.90 per cent : August operating expenses, $1,111,017. against $1,1S5,Du9; fixed charges, $S03.7til, ngalnst $703,931, leaving a deficit for the month of Sc.SH, compared with a surplus last yoar of $ll,ll. Gross earnings for the two months weie $J.SiM. 2:M, against $J.S60,6H for thu same period of tho previous ear i:penses were $2. 218,719. compared with $.'.3IS-1S9: fixed charges, $1,S1S,123. against $1, 357.64,1; defi cit. $2611. compared with a surplus of $31,509. The annual report of the Union Trac tion Compan, which was presented nt tho annual meeting todaj, for thu ear ending June 30. 1914, showed a balance of $2031; amount received ftont the Phila delphia Rapid Transit Compato for rKeil charges. $0,160,0.'; rental account. $1 000; maintenance of organization. .OOO. Interest on deposits. $417; Interest on Philadelphia Rapid Transit bonds, $2'-,o equipment Philadelphia Rapid Tiansit $1,EOO,000: total. JS.Ut.S.'S Disbursements. fixed charges paid. 5u.lCG.05.': mulntenanco of organization, $6063; dividends paid, Jl.iW.OXr. Philndl pltla Rapid Transit equipment trust. $130, 000, total, $S.1J1.1M; balance. $J033 Ptesident Jeremiah J" Sullivan pio sented a report at the annual meeting of the com pan v in which he said: "On June 1, 1911, vuut boatd granted this companj's consent to tho Immediate certification and U.sue of t.' cXw.Ow moro of the bonds teemed. the dertil of tiust of Marcli l, 191J, made by and be tween Hie Philadelphia Rapid Transit Companv, the I'nlun Ti action Company ciiica;o (;kain i'ici:s leading futures ranged as follons V heat Ves. elos. Opn. High. Lm Clot. .-eptomber . 1 04n 1.07' l.uOti 1 OS i (r.i He. ember ..'I.07J, III) 1 12? I.tw I 1 1 4 Mav 1.14 1-17 1.10 l.l.Vj I lij f.irn Pfptemher .. 70t1 70 7 70 ' 77'1 December . 71' 72 72 71T 72U May . . 71?. 744 75, 7P. 71', Oats September . I'.tf, 4r.r. 17, in j 4T . December 4S !0i tO, 1'. -i , Slay . 51H 52'j KIK 52'. '. , l'orU. Peptember .17.VI 17.S'i 17.SS 17 So 17 s.'n January .. 20 02 20.1O 20.1O w.C", 20.U.', Iard .Seiit(mlor . t.20n f).40o ' intuber . 1..27 O 30 05 o .'17 iv).W7 Januarv ., -0.02 lo.C") 10.10 10.00 10.10 Itths - " ?'Ptfmber ll(r,n11.T 1107 II. SS "lt-.WV itetobcr ."1!.: -1I'T3- U.'ia ill" 111" January .,I0.7I lO.1; 101C, ln.Su 10.7.1 Hid. SAJceil READING COMPANY DIVIDENDS Tile directolft 6r tho Reacllhg Company today declared the regular quartcily divi dend of 2 por cent, on the common stock, paynhlo November 12 to stock cr r.oid October 27. It was announced that th regulaV quarterly dividend of 1 per cent, on the second preferred stock will be paid October s to tock. of recoil Septem ho 22. LEHIGH VALLEY DIVIDENDS Directors of the Lehigh Valley Rail road today declared the regular ntiarterlv dividends of 2- per cent, on the common and proferrod stoeks, payable October 20 to stocholder.' "f record September J6 Septrml.er 1! The 1911. i)iii)Kvns. THK l'KSN.TA M rf(VNV I (IK IXifKlN('r.S IIV IIIKi AMI (.KA.N'llNC. .NMIIIKs September Itth, 10H The Hoard of Directum hu this ilay ls clarert a resului quanerl. dividend of hl I'er Cent. (SO.00 per lmre, dear of last, payable October 51 tl. 1914, to slocUholdern at record at the ilua f tiuslnees Septsrnber 24tu. 1911. f S NEWHAIX Treaurer. Market Street National Bank of PHILADELPHIA. PA. RESOURCES Loan- and in fMnitnt-. 58."t(..tr5 r6 Due from Banks. . 1.183..WJ4 Exchange inr Clearinu House J'J9..,fij Cash and Reerc . . . 1,013 2416 Clearing Hotko loan Ccr titioates t liand .. -$50,01X1 iK S127127l(57.47 LIABILITIES c pital Stock $1,000,001 Oft Surplus and Net I'rotits . 1,.3;0.92S.?? Circulation L'. S. Bonds Burrowed (I S Deposit) . Deposits Clearing Hqu.ic Lean Cer titicatrs ogtsuricjincr 1.200,207:0 50,000 1 8,o71,241 40 350,00000 ',. , S1JJ.7V-V107.I7 W.- P, SINN"ETT.' Casliier. SV fV-SVN 360 00JI io Dun 131 UOu ttlUW BUTTER AND EGGS KVt' YOUK, Bept. 15 Mutter, receipts 72M packages, extras. 32S33HC-. firsts. 2Sii831',aC. Eggs tecelpts. 16.&19 cas l'irst gath ered extras, S0fi32c, estra nrst. SSftSOc.; refrlserutor firsts to fancy. itfiHSc. BANK CLEABNGS Di.k ilail!.gs tolay compdlo iitl ..out ,poa41n5 da $ ,w,r"iMta IWU VhllaillrhU $21V),171 $JS.17l'.:t4 42I..474. ?:.. LSstoil .. , SISM.WT 26.375 Ml 27 1M,5t5 bOSl ' 1914 101 lc Kt Louii . .i3 ta.rt02 18. sol son fonsjoa Chlctio ...f51.278.6SS 53,7fc8.400 (2 (Wf.bSl AUCTION SAI.KS J. JACOBS & CO., Auctioneers Pbon Lombard 4448 D. 513. 515. 617 3 2d MIKi: SC'HV VRTZ. 24 Oroiini.n -Kllla .Her l.a Ul .s & !n ft I , ut i Ml- II PUM'iNPS W T HI- . FRU -I I f 1SUI 'J V VI '" sv-vwst t - -SBK$ilim'-T Your Bonds Were Good five or ten years ago, when you bought them: vet thev should be constantly watched andeffects of cnanging conditions caretuUy noted, , .. ..'. ' . None stand still; they grow better or wolSe; as'time- 4 passes. ' 1 .'. ' - Investor's Service j supplies you with fresri news as to iriu;higs, coninwilioD. 1 earn ngs anil espynsee. so that you may intflU&tltitly i decide how and ithan In a,-. it v,l., .. Vil.l, V;.t . Why don't SOU register a rctUICst for illiorm.trjnn rrrantiiii! nm or all of your holdingsit costs nothing unites ft fi'rjhs y(trjnafsffaH I and you are the solr judge of that. Call or sv.tite far leaflet ."Vain In ute by 21 Hanks and Trmt Campaims &, thitJjtLy. II. EVAN TAYLOR, Inc. 702 Morris ISuilding 1421 CHESTNUT STREET Regrets.' tjMTAVLOBJBj , I "" i.. v t. f'erfrj .!.s -..0XN 5 , MsaHkW . 0u'h Vho f J t M'n if . Alt :;. ,i'M vfiipii mm c ' ,; l.C 4rt. -fUISBta
Significant historical Pennsylvania newspapers