SZx&A
EVENING LEDGER-PHILADELPHIA THURSDAY, SEPTEMBER 17, 1914:.
13
FINANCIAL AND COMMERCIAL SITUATION AT HOME AND ABROAD-MARKET REPORTS
DEWS COMES TODAY
OF THE FIRST STOCK
'CHANGE REOPENING
Brokers in Sydney, Australia,
Will Resume Next Mon
day London Discussing
Resumption and New York
Awaits Its Decision.
First news since the beginning of the
' Europenn war of a resumption of stock
trading nt any of the Impoitatit centre
where tlio Bcliangcs wcro closed camo
today from Sydney, Australia. It an
nounced that tlio Stock Bchnnge there
fflll bo officially opened next Monday.
Tnls announcement naturally Increases
the reeling of conflilcnco ovorywhero ap
parent that thine nro on the mend nnd
that the financial world Is nearer a gen
eral resumption of business today than
lit any time since the end of Jul, when
the Exchanges closed.
In London today foreign Exchange
bankers met for their (list session Blnco
tho war began. Whllo there was no
business of nny mutcilul Importance
transacted, tho session Indicated that
every aid Is being given tho Government
In It' efforts to epedlto foreign exchange.
Another favorable Blgn Is tho announce
ment of repeated conferences being hold
In the Metropolis between representatives
of the Government banks and the London
Block Exchange Committee, concerning
the reopening oi uic i-auhuiiku.
New lorK will take no ncilon on the
reopening proposition until after London
las taken tho Initiative, and Philadel
phia will, of course, do nothing aiong
this line until after Now York hasolll
clally acted.
Washington broken s soo such a gen
tral Improvement in tho situation that
they have already had several meetings
to discuss tho advisability of reopening.
It was finally decided, however, to take
nc action until the Now York situation
ras teen cleat ed.
Brokers In New Yolk say It Is ex
tremely probable that tho lcopenlng,
when It comes, will entirely confoun'l
gl' prophets. Moro than likely tho ob
stacles which aro In the way of a re
tumptlon of business will appear as for
midable as ever until tho oftorts being
made to overcome them shall have been
successful, and the rolling away of the
clouds will be brought about almost an
sudden) nnd unexpec edly as they nroso
Public offering was made today of the
rcw JIOO K0,0X C per cent, note loan
re'Otlated last week Just how much of
It will be allotcd to Individual Investors,
Is not known, since thero Is no indication
of the amount taken by the indicate of
IS Now oik ba iks and trust companies
Tho bonds and notes nro being offered at
jnr nnd accrued interest. They bear inter
est at G per cent a jear. pajabo Match
and S nti mbcr and uro Issued in coupon
and registered foims in denominations of
WO, i'OOO. JMOOandJ'0 000 The w HI ma
ture as follows: 37 000 0C0 C per cent cor
porate stock notes due September 1, 1913,
J1S00OOOO G per cent revenue bonds duo
September 1. 1316- 23 (W 0" G pei cent,
rovenue bonds duo S ptember 1, 1917.
M'ten the last pnment was made yes
terdrv nfte noon by New Yoik financial
Ins l lions, the llguies showed that about
JleWOi had been puld by the banks and
truft companies In sterling ochungu and
J6,0 0W in gold.
Some Inu'ilcs wtre lerolvcel hero today
bj Investment bankers from Investors
Abxlous to take part of tho note and bonl
offering. It Is not likely howevci, that
there will lie much of tlio offering ab
sorbed In this section Tho notes and
bonds, exempt from taxation In Now
York nro subject to tho four mills tax
In Penn'-vlvanla, In the enso of Indi
vidual Investors This brings tho yield
down to about 5.1! per cent. The titterings
are however exempt from Inderal In
come tax It lias been cars since such
t hlsb er-irte obligation barked hv the
credit of New York cltv, was ofterod on
such an aMractlvp lnsis and one of the
chief reasons why Investois hero may
not got Into the market as extensively
as they would like Is that distribution
will probably begin In New York, whore
alreadv it Is undirstood, there lias been
an oversubscription.
'.ocnlli there continues a fairly good
trading in nocks although within tho
last few days a fulling off In transactions
Jus been noted Demand for lilgh-gradu
uonds continues active under tlio elreum
Jtances One largo house here sold 17.-
worth of public utility securities th's
afternoon, all of which represented nn
investment In a slnglo issuea gas prop
osition In West Vlrglnln It put through
iso good bales of another utility secur
ity, covering publ'e service coriiorutlom.
In the Middle West
It was told this afternoon of one local
2tor ln. L'nlteu" s"tes Steel who sold
,, wo"" of Ule" securities on n basis I
il i .' r w,t" the Proceeds of the
fi. i i0llBllt '"tuffh and within two
Z!n lm8ne', u" ll ,ro,lt ai'proM-
r,g iiocoj Shutting off of Imports
,L tuf3, rt,, t" the war, has Inllu-
j ii-miuu ror them which enn
bo met
RECEIVERS FHP COPPER CO.
Iteorganlzatlon of $0,000,000 Con
cern May Follow Proceeding,
NIJW YORK, Sept. 17.-On tlio applica
tion of threo small creditors, tho Ohio
Copper Company has been placed In he
hands of lccclvors. Under a Joint bond of
$20,000, m J. Hlrsch and George C. Austin
wore named receivers In New York Por
thO ntlriinsn nC fAri,vn,.l.l.,r tttn MA.........
. - .vw.Qiiiiiaiiif, iiiu t-uiltmiiy,
a bondholders' committee has already
"e-en lormeu. juitorcst on tho bonds was
Jefallllcd on September 1.
TllO lepplvplshln wna n rt.,,1t. n.,n
Tlio mines of Iho company are In Blng-
urn, u-Miii. n is sintcu mat tno liabilities
nro about $100,000 outside of the mortgngo
bonds, which ninount to $1,760 000. Tho
capital stock of tho company is $8,000,000.
THREE-GENT FARE
DECISION IS VICTORY
FOR UTILITIES MEN
DIVIDENDS DECLARED
HouRhton fountv nicctrlc Light Coninanv,
rcRular fetnl-aniiiml 71 cents on prercrred nnd
"i cents on rnmnion both psinlilo Novem
ber 3 to stock of record October in,
lllectrlc Htorngd Ilattery Company, rcsultr
qimrterl) 1 per cent, on common and prefer
roil, tmjablo October 1 to stock of record
September 121.
American Ons nnd Klertrlc Company, reitu
ni quarterly 2 per cent on common nnd l'&
per cent, on preferred rbo common Is pi
nblo October 1 to stock of record Heptcmlier
11, nnil tho preferred In pnalilo November 2
lo stock of record October 21.
Li Hoso CouSnllilnteil Mines Compnnv, res
vlur qtmrteilv W& per cent, pajntlo October
20 to stock of record September ."0.
Kolb Itakcry t'ompiny, resular qinrtcrly 1
per cent on profencd stock payable October
I to slock of record S-eptcmber 111.
Proctor A. rianiblo Comnimv. rpfftibir nuar.
tcrl a per cent on preferred slok. pavablo
October 1", to stock of record September 2(J
WIIIjb Overland Compan, resular quarterly
l?i per cent on preferred stock, pnynblo Oc
tober 1 to slock of record .September 2
I'nltod tnilltlca Company, rctrular qmrterl
Hi per cent, on preferred stock, panblo Oc
tober Into stock of record September ID.
Consolidated Mlnlnir. Milling and Smelting
Company, rexular quarterly 2 per centi, pnv
tit lo October 1 to stock of record September 1J.
U. Si Court Ruling Declar
ing It Confiscatory Ends
One of Most Remarkable
Traction Fights Country
Ever Saw.
COTTON PRICES FIXED
Nt5V YOUK, Sept. 17 The members of
tho Now York Cotton llxchange have re
ceived notices that Liverpool has tigtccd
upon a price of SCO for Januan-rebuiary
dcllveilcs, effective today. The price will
bo adjusted for Docomboi at 9 30. Mar
gins nro duo nt Liverpool next Monday,
and checks among members arc called for
until that time.
FINANCIAL NOTES
A call for tho condition of state banks
and tttist companies In Now York States,
as of September SI, was issued today b
dtnts Supetlntendent of Hanks Richards.
Tho pissonger tia'llc of tho Intel boro
Knpld Transit Coinpan, of Now Yoik. In
the subwav dining tho vear ending Juno
CO amounted to .M J, IIS 103, an Increase of
1.',0I1593, according to figures compiled by
the Now Yoik l'ubllc Service Commission,
as Indicated by tho number of tickets
sold.
Tho bnnks lost to tho Subtieasury jes
tcrday $3W,000; since Frldti $.1,619,000.
A cable icceived In New York from
London says that 2 000.010 of Trench
trcasuiy notes have been placed there.
The iciult of oterdny's ballot by tho
New York Cotton Exchange Conference
was as follows1 Meradden and Company,
100 bales, A. Noiden and Company, 100
bales ind Weld and Company 100 bales,
till sold at C0 cents.
Th" m'nlmum rate of discount of tho
Hank of Uiiglnnd remained ut 5 pel cent
toda
Tho annual meeting of the stockholders
of the Noithern Pacific Itaitroad will bo
held in New Yoik on October 15
BAR SILVER
Commcieial bvr bllvei Is being minted
In New York totlav at 52c, which rep
losents it decllno of 'jc, compared with
esterday's pi Ice
RAILROAD EARNINGS
hUAUOAUD AIK LINK.
llflt Dt'craso
Tint week ert JlliTisi) W" Wl
Vrom Jul 1 :i.8 0 7K 1M, OH
enced
hardi
UANK CLEARINGS
tPoniJj.r'ie,1,line'! yUv co"'paro with corre
wnung uay lut tivu years
n. . I'll!
u ijiuHi,,
llOaton
-71- . 17
11(1 1
$.'7 mi tin
-'-Mil- .'1.'
lilt.
$j' ir.i.nn
J7. 1110,115(1
CARE OF WOUNDED IN BATTLE
The earo of tho wounded Is necessarily
nn Important tlut Itnpotod on overv na
tion In c.iso of wai, and the methods
j'dopttil In European aimles as told In
un nitUlc in tho S lentlllc American, Is
partlcularlv Int, re'tlng as will bo seen
fiom tlio following extract
Tho gtnoril sv.-ttm adopted for provid
ing u mi dieal service Is practically Iden
tical In the- armies of nil tho gieat pow
t rs It contompl itis a divihlon of tho
servlco Into tluee portions that which
belongs to and accompanies the lighting
troops, that which pertains to the base
(of supplies) and tho line of communica
tions and that which pertains to tho
homo tenltory oi "tho orio of tho in
terloi " Tho piluriplo governing these
ter vices Is thnt nothing but llrst aid
and enieiginc treatment should bo at
tempted in tho Immediate one of com
bat, and that having received this treat
ment, tho dlsahltd should bo quickly
transported to the "Inse " where abun
dant facilities fot their caio can bo pro-
vlchd without encumbering tlio fighting
foices Horn nt tho base they nro care
fullv rhit-silltd. and thosn who aro so
borlouslv dUublod as to bo unfit for fur
ther bervlcii nt the front urn bent back to
hospitals at home, whllo those who aio
less seriously disabled are retained until
then aio well enough to liavo tho hos
pital when they aro transferred to the
cunvae-ciiit camp. Here they icmnlii
until tlit J liavo fully itgalned their
btiength, when they rejoin their regi
ments at the fi out.
After n strenuous fight which tasted
many months and which wna watched
with unusual interest In nil parts of the
country, the three-cent faro controversy
in Toledo, Ohio, has at Inst been settled.
Judge Kllllts, In tho United States Dis
trict Court of thnt city, has decided that
tho city ordinance enforcing this rnte Is
confiscatory and ho has ordered a return
to tho old rates, five rents for each pas
senger oxept during the morning and
evening rUHh houis, when tho rate shall
remain nt tluee cents
Decision In tlio case was a victor for
public utility Intel csts. Whllo the fight
was on between the Toledo Hallway &
I Light Company and the city authorities,
thcio developed a situation In Toledo
which has never had a parallel In this
country. The compnti, after March 17,
when the ordlnanco became effective,
declined to accept the three cents offere'd
by passengers who boarded Its cars, and
those who did not produco the llvo cents
which tno company declared to bo Its
regular late, were permitted to i Ide free.
'J hero was no acceptance of three cents
fur o ride except during tho rush hours.
Tor live months the company operated
Its cars unde'i this regulation and its
olIlccrH figuied that tho losses incident to
this nrraugement avcinged $1,000 a day.
Yet tliev would not retire from their
ciiiglual position In the matter and they
dettrmlncd to light It out to tho end.
They declured tho principal of the lower
lure scheme to be ull wrong and on the
Siound that tho securities of the company
were being seriously impaired by the low
rates, the fought every move for en
fore cmont of the otdlnancc.
Early in the light Henry L. Dohert ,
head of the company, offered to permit
tho city authorities to tako over tho ear
sstem nnd operate It for a year to prove
that tho low rates of fnio were unprofit
able. The clt declined the offer, but It
submitted to tho voters a proposition to
have the municipality buy tho property
and operate It under a municipal owner
ship scheme Tho voters, at a special
o'ectlon, agreed to tnls plan, but there
vns no provision for tho ci cation of u
bond Issue with which to purchase tho
property.
Judge Kllllts laid uporj tho city authori
ties the bunion of proof to show that tho
company's revenue, under the three-cent
fare ordinance, would pay Its operating
e?.penses und leave a suiplus of from
$300,000 to $100,000 a year. Such proof was
rot produced, In his opinion.
Judge Kllllts said that the city should
hnvo had, when It passed tho three-cent
fare ordinance, knowledge that Its terms
were reasonable. Neither the city nor a
court has the right, he said, to fix an
arbitiary rate of fare without the knowl
edge that such rato will pay operating
expenses nnd lenve a reasonable return
on the Investment. Hy this, ho said, he
had no reference to bonds.
' 13 It possible that the city Intends to
occupy tho position of dog In the manger
forever?" said Judgo Kllllts. "If the
orninunco is unreasonable tho company
cannot be held to its terms by tho mere
fact tint It continues to operate. Wc
must have tiausportatlon. Then for the
city to say thnt If tho company continues
to furnish that transportation It accepts
terms which may bo unrcaeonable Is un
conscionable." The Huntingdon Development and Gas
Pomnanv. m.initiFOrl hv T W flnrlr Jf
Co , of this city. Increased Its output ot
gas from STOOO.OOO cubic feet In July to
140 000,000 cubic feet In August. Tho com
pany has valuable concessions In West
Virginia nnd Its securities have recently
lcn In active demand.
fetock of the Cnplt.il Traction Company,
Washington, D C hns gone to a 5 per
cent basis. It has boon on a 6 per cent,
basis lor teveral yoar3. Tho cut In the
dividend rato was authorised at the niert
Ing of tho board of directors and Is tt
tako effect with the quaiterly dividend
payment due October 1. It Is duo to de
creases In earnings
PORT OF PHILADELPHIA
Sun and Tides
Sun rises
PHILADELPHIA MARKETS
PROVISIONS
tnm iLa"'Js u,li lhe nmil. without lm-
'If'' v ..J, ,'." ?et. Vnu)",'i ond nlr-drliM Ui
Hi br Lr,',' . ' ?' ''i trtd Hinorfed ll'tt l.'i
lr lrl. i 1i"u,1u1,,,nd itndeu emokid mid
Imdorj , , V. tern beif knuckles and
IUiu .V"',."1' '-,rM,u beet - tiann JIUul.
e Jihir ''jiiu. do BinoUd, l'jdr
kunu, i '""'." .Wi""'- " iu"-d '
''.".,.,', 1,SH"- do, boiled lono
l, 1 t. .i "1c"Il 'boulder & ' il
IMHh, ,p ; aciordlnK tu uveraga looae.
. ,,f "l b.uccl1 w brand and
"1il irKT" "V,:1 ,-Mc . InrU Western
tub. iu,,ii ',1-ifliy4c . do. lu.. do.
ikrri i ,i l ,"r'1 l'uro clt, ktftlli)
clt k-?ti. i',"ief , l -. I lard, pure
"" "nJere.t in tubs, JHtlJc.
n SUGAR
Su"LJ,,i"a,kel ,lrm '"' nulet.
rulated :r.a?i,-,', 7 lilMTOSc: fine
' '" iinr. , .7 ' ' .,'0'- I'ovvdercd 7.33
'. l"4i u','irs A 7 T.-0c . "ft
fi 12 a m.Suii sets ..
I'Hir.ADKM'HIA.
IIIrIi water.. 11 10n ui. lillsh water
(. .it a m ll-oiv nater .
HKKDY ISLAND.
S ssa in llllzh wnter .
1' Uam Im water .
nitKAICVVATKIt.
rt 31 a in IHlKh water .
Low water
IHeIi water
Low witcr
HlBh writer
0 08 p m.
... p.m.
C 1 p m
s r,7 p m.
3 ui i m
0 12 p.m.
... p.m.
Low water. .11 4N a m IIjuw water
Vessels Arriving1
Silirs. Humarock, Kmmn h Lord and ChlUa
Harold. Nova hioiu laths.
Name,
Foemdik .
Ilnerfrd
Ancona , .
Steamships to Leave
lUSSENflKIl.
for,
Ilotterdnm ..
Lhrrpool .. ,
.Nuplex
Date.
Sept. 17
rtept. 1U
.bept. Ill
PORT OF NEW
ier li mil tr .Oldi lemons, per bnx 1il,
ilntamlii in r rule Porto lib ,, $1 smi 1, v-aln
J Inrlli MiSV .ruiKrrlea I ni.o Cod Kill vi,V?ft
. ' . I'.,r '. " I'"1 cninoerries rune L'ou. itait J.
1 iirli Illicit ur trat l 75fii eranUrrlcs, XVi,,S,r
Jpri per i rato Jjrk $1 7W'-' -" IlKht. n , Allienal ..
Mihlnli ,tr '.i II, lunktt L".fiVu, At, do , I TliJfff,'.?"""
In r c lfll 7V fitXI ll iln ll.li,ti,iru nn.l M,..! iU4)ailla .
I.init iir bmkit S"l1i7V ilu , do ti into, I
7v il w prnihrs PinnslimiU I er buikct,
. h ' r II m ' -
TJl i ili hfw .l.rir.,i ,. I, fl .. .,. . l ne, . . .ll.
.! , .uia, w.i.f ,....- I". J . f,P, 1'
I il i'o .1", vellort ir V-bii-ltet lv fil
luri- miirl" icr III ll.irtltit No 1, JVTfil
I ,l N- J .' 7V'il -". I Inn aluvfrlle. No 1
'jj)V do No iJ 7Vii '.'V i(,m Nik
Turk be hoi, prr I bl JKiV rlliei vurieths,
IJfi I grains boutli, rn Ue'ltiare in urrlir
,rTi' i mt- t mi nrd 't irate lufjuii
nliMiid per S'lt, bitfkit "in, V tuntn otipcs.
YORK
Name
Anionic
Mniiiiou
l 1 Inland
A mono,
Tournliio
I'otmiaiu
tritic ..
DAIRY PRfinirr'rc
Jew VorkiT'-i'J" tatter and prliw firm.
fair t. i KeJm i hole. IU',itlW-c , do.,
HUa,r tu 15v-.ilix ,' Uo " litri itlii:
POULTRY
JJhiJ'TtJi'1 'f',r al,a he market llrm
f'eker, ,'; ."11 """tor. Uui. , iurltK
S lt,t (.ndovJJ"!.". . lcr.Va,r oun w.lVbliirt
Je '"j "Wrl'l'f , uT do u "IkIiUib I lb
FRIs-iTT pniiT'i'o
... lUUUQ
l!", i'.i .r.'bl lancy arKtl.s.
vim, i o ..-0 Bppj'ueirw.re
miMiid per ft'io oixii "ur 'x tuntn otipcs
(Vlifxlo rr irnlo Xll " do do Hats,
nt,.1. anrnrni.lnru l.r.i 1 nn 11) t.Cll
YKGKTABLES
potatoes nioinly vvltli d.rrmnd absorbing ''"'
tmitralo ulferinss oher ivetabUs In ftlr
rnjutBt and ieid) hli (lutatota, tier buili
IVnia i hull o 'Wu. do fub t, good, itt
(liiSi ulilt putuioej Jiricj sr bakft P
ftft sweft tmitiioes Faatern dtinrif. ihi
Llil, No. 1 l1iin Vo .' 7V1 neat
not!u N I i bbl No I JI T32 No
i tScbtl. ett Jir.cs ar bbl Vo 1
$ 75 No .' $1 a Hit 73. meets Jirst
ir busket. 9'iilk.. onb n. Wn'crri and
fonnpitliut Vallo rbolte. per twj.lb Uik
(1 i;", oiiluni uii'dluni. .r lt il, bag Jl
labtwiiv doicti nr tun fl"iH ulit)
N ). Per bunih l"tj.i(k. , inuihwui, pjr
lb I Jbk.t Mk Uil ui
CHICAGO LIVESTOCK
i IlK'Mil.. 'ipt 17-lltXJs lUelpt 11
Olio roarkiU Itl'i liUlur mind un 1
butibcr fiMiiiitr, t,ouil lumj Js ti!i l'i
roiuib luavy s STjb W llht S. sMi' IS
ili. 15h71 bulk KU20 e'APn.K
RutlpU 'i.itx) markets steady UVvs. " 10
till .oi in li lit Jl i 7j
ItiiJTs v-'OiKii, Texans J7aiSM
talin JO 00,(12 'I' hlltl p lleelpt 10oiX
mark'M M-id pi he and Western, si. ,9
b.'l limi- J't.11 J. T
Steamships to Arrive
PL'U today
Proin Dato,
..iiuiuiaux nept.
Liverpool bept.
, .Patras via, Trieste
.Gibraltar ....
LUeriool ..
Steamships to Leave
Tor
(llasKuw
...... . . Iiiidon
Llkorjiool
Nuplea
Havre
HotH-nluni .
Naples
fept I
hept 4
brpt. 1U
Date.
"Opt IT
bept 17
i-ciit. l'l
hepi l'l
fcept in
hern 2j
bept .'J
DECLARES FRENCH SOLDIERS
WILL IMPRESS THE WORLD
i
American lawyer, Resident in Paris,
Says They Are Strong and Determined.
NCW YOIUC, Sept. 16-Doialtl Harper,
an American lavvjer who has piactlced
In PnrlH for mnny jeais, arrived today
from Montrenl, nfter crosslnR the Atlan
tic In the Iiurcntlc. .Mr. Harper said
thru tlurlnR August he serv'cd alter
natcly on the American Committee In
London and the Amorlcan Committee In
Paris.
"When I left Paris two weeks nrco last
Thursday," Mr. Harper snltl, 'nobody
seemed to think the cltj could fall, nnd
It Is my opinion that It will not. There
are s many us 20,000 Americans In Pni li
now I know that tho wai was totally
unexpected In Prance, and certainly tho
country did not wish for it It Is as
sorted Hint between four and llvo mil
lions of able-bodied men can bo called
to the colors, nnd I want to tell you
tlirU- tlio Frenchmen of today aro tho
most detci mined lot of people ou evei
saw. They aro qulto serloui. It may
sound nucer now, but tluilng the Mist
lew dnys of the war some Americans
who went to play ffolf at Tepeco. wore
required to refrain, as this was not
serious.
"TIiIb feneration of Prenclitneii Is
qulto different from that which foutrlit
In 1S70. Hoys and ouns men have taken
up athletics and have made wondciful
physical progress Thero Is far loss
drinking In Trnnco than there used tti
be. Before the wnr Is over tlio world
Is fjoInK to be Impiesaed with the stam
ina of the Kirncli soldiers. One "fault
they lrive, and that is imprttiousncss.
They nre hard to hold back. I know
the French ns few foreigners do, nnd In
morality they nro not excelled. Mind
on. I nm not speaking of the boule
vards nnd the Ilfo that Is made for the
tourist. I nm talking about social con
ditions among the real French people."
STAUNCH OLD SHIPS
If tho life of the old man-of-war wai
longer than that of the present dread
nought, the old merchantman lived longer
still. Tho Lively, for Instnncc, when
wrecked at Cromer In 18S8, hnd been afloat
two j ears over a century. The Lib
erty, too, built at Whitby In 1750, was In
regular use till 1656, and the Bct3y Cains,
which began life as a frigate and ended
ns a collier, went down ln her 137th year.
And In 1W2, according to a dally paper,
the Anita, then trading between Spain
nnd America, dated from the daji of
Columbus.
MILLIONS SPENT BY
READING TO REMOVE
GRADE CROSSINGS
ferred illvMfndd, cornpuml with 17 RT oe 'Cent.
on a net corporate Income In inn or. II w .'
for thrpo companies after deducting preferred
dividend.
11BA1MNO ISA1I.WAY rtJMI'ANT
mii-it 1HI2-11
ftfcflrt 47 121,170 Ml) :2 7 7
nxpenioi ILTIO.ZOS 30M7.IIO
Net Incomo from mil
operations
Outftlilo operations net
from oil
tn.iiotni
JttlO 1101
20 01 r, 170
Ninth Street Elevations Com
pleted Holding Company
Surplus Equals 12.17 Per
Cent on Its $70,000,000
Common Stock.
Attell to Get Another Chance
LOS ANGELES. Sept. 17 -Abe Attell,
former featherweight champion, was
glvan a chance to regain his lost laurels,
yciterday, when he was matched with
Johnny Kllbane. the present tltlo holder
for a twenty-round fight at Vernon on
October 15 The weight agreement calls
for 122 pounds iln&slde.
Weeks New A. A. TJ. Secretary
BOSTON. Sept. 17. It was announced
here last night that Bartow S Weeks
connected prominently for many venrs in
nmateur athletics, had been appointed
tAe.TiP0ar,JJ ,8ecFeUP' ot tne Amateur
Athletic Union In plnce of James V. Sulli
van, who died suddenly yesterday.
Luhln Stars After Gaines
The Lubln Stars have open dates on
September 20. X and 27. Teams desIrlnB
this attraction communicate with Butch
Bbinger, Lubln Studios
The Philadelphia and Heading Knltwav
Company spent JJ50.071 for the elimination
of grade crossings In the fiscal year
which ended Juno CO, nccoidlng to the
nnnunl Kport of tho company. Just la
sued, covering operations for tho year. A
total of JI31,6IG was expended on account
of additional main tucks Tho sum spent
for giade crossing elimination was nlmost
v'.ltolly In thn elevallun of tho tracks In
N'Inlli street and oi thu Richmond
Branch.
Up to Juno Zf), th'1 I'oinpanv lind spent
$;,IG2,6CS on account of the Ninth stteet
dovatlon und $1,161,115 on account of
simitar eoti&ttuetloli on the Blelimond
Branch These minis are etiluMvo of
what was peiit by the city tinder tho
agreement foi tho abolition of giado
crossing" The elovntlon of the Ninth
street tucks Is virtually completid. The
total amount spent bj tho comp my In
the vear foi additions and botUi incuts
to tho property was $2,021781, a dcraso
ftoni tlio pinv lous tlscnl vnr of '.00,77'
This jear separate repoits nip issuitl
by the threo Beading eotnp mlos, the
Heading Company, tho Philadelphia and
Beading Bnllway Company and the Phil
adelphia, and Heading Coal und Iron
Company Income account of the Bead
ing Company hows a surplus for the
vera of $ll,:i:.',0GJ, intituling the amount
lcctved bv the companv In the distribu
tion ot the assets ot the Temple Iron
Co.npanv under n doriep of dissolution
hy the t'nlted States IJlstilet Com t This
surplus compared with a surplus of the
previous cnr of ?10,W.1,9T0, and Is equal
to 12 17 per cent earnrd on $70 000 OUT eorn
mon stoek after the dividends foi the Hist
nnd becond preferred stocks have been
deducted Last veai 1717 per cent, was
em nod on a net coiporate Incomu of S15,
0D'874 for tho tluee companies
The annual report of the Philadelphia
and Beading Coal and Iron Compan for
the llscal oai ending Juno 2) 1014, shows
gross receipts ot $3.2,701 &82, compnred'wlth
$10 953 063 in tho pievlous year. Not oper
ating pintlt was 3IS,3G7, compired with
J3.7SC91S In 1911 Theip was a balance of
$715,S90 nfter the pivment of ned charges
compared with $1,131:92 In lilS The heavv
decrca'P in earnings was due principally
to the falling off In the sales of anthra
cite The following table show Income ac
counts of the Bonding Commny, the
holding coiporntlon and the Reading Ball
w ly Compniv for lir-u and 1912-13
nnvDa company
20 I2rt fKis
1 1W.47W
in, 12H '2n
1 240 74",
s,27aiwi
Sittt InnnMA
operation n,700 IBS
Tales 1.2D7. V)1
Operntlnir Income. . H'2i2?!
Other Income .. 1.-1 '.H"
Oro rorponte Income 1" 'Mini '
Inductions from Income 8 1IK1.K1H
7 12ili7it I2(i!inl
Additions and betterments 2 Qi4.78.t 2.1D1 "a
Net corporate Income . "s". 101 .MS $'I.!I8.007
Notthwestern PnclflP bus plnced an or
dci with the American locomotive Com
pany for nine locomotives
CrinadlT.il Pncinc Ballwaj wilt carry
out Its program or rolistiuetlon this eur,
say Mil tMmund Osier, ti director of the
pnmpanv Up raid that tilt company Is
ahem! with financing.
Itccelpts
lxpcnsea
ItHI-H
1012-1 I
$111011 lis SI-, Iii7 l'l
102,110
10-1 &-.
KlRir'iis fi' h-i
.', 101.100 ",2'S
ill 12201.2 $innoi rio
Interest taxes, etc
Surnlua for Cflr
i-qual lo 1.' 17 per cent nfter delecting pre-
ARMY-NAVY GAME HERE
Dig Contest Rumored to Be Slated for
Philadelphia.
WASHINGTON, .s'npt. 17 Accoidlng to
a rumor which rostiltPtl from u mcptliig
jcsterdii ot .Spcrrtnrles ilatrlson and
Daniels, ot tho War and Nnvv Depart
ment!) respoctlvely, this v ear's Annv
und Navy football game will take place
In Phllad'lphla, provided both schools
sanction tho ngieenipnt presented to
tlnni
This agreement Is said to all foi the
game to bo hold In Philadelphia this
eir, but aftel that to alternato between
Washington and New York for n poilod
of eight j cars
AIRSHIP SPEEDS IN WAR
Thp speed of an aircraft In war seivlco
Is an Important problem In war service
of .my kind.
Thero was n tlmp when aeroplane speed
V as Miboidlnnted to tlui.ihlllty and
strength But In those duss Uhico vejrs
ago) utroplano accidents were morp frp
iltient than they are now. It was thought
then that biplanes would be emploved p
cluslvcly for mllllnry purposes beeausp
of their stanrher construction. Indeed,
tlieie was pvph nn undei standing If not
an actual rule In tlio War Utiles of the
European Powers that liiplnnrs wore to
bo ordeied in piefercnte to monoplanes
All that seems to have been ehanged
Both tvpes of mirliluos nip to be found
in use Monoplanes nrr stamli enough
to withstand oxtraoidinary stiains as tho
looping pcrtorm.inccs of Pesoud and his
imitators havo abundantly proved The
rrnln consideration Is that of s,pecd. dlow
miielimcs cannot be used nowadajs. In
other words, machines that tiavel at
speeds of less than 10 miles an hour The
policy of the Trench annv Is a good cagp
in point. Be'tween l'tl2 nnd 1913 ordeis for
tho faster Henrv l'ni maris Increased b
"Oil per cent , while thofio fot the .slower
Maui Ice Tarmans dv reaped by over 30
per rent. As toon as Maui Ice Parman in
crenred the speed of his machine by
lelegating the elevator to thp tall and
making other Improvements It was r
storeo to army favoi The aimored urn
rhlne. too. Is much f-ought aftPi In 1912
for example, only eight Volslns of or
deied As soon as Voibon pioduced his
steel 70-mlIe an hour machlnf. an ordei
for thlrt-one was promptl placed.
CENSORSHIP EVOKES
SEVERE CRITICISM
OF BRITISH PUBLIC
Official Press Bureau Ac
cused of Blundering.
Skirmish With Correspon
dents on Geographical
Problem.
LONDON, Sept. IS -British and foreign
ncvvspa)pr men nre poking much fun it
the official Ptess Bureau of the War De
partment The censor Is declared to b
not so much thoiough as Indiscriminate
In his blue penciling
The Press Bureau was founded at the
beginning of the war, It was announced,
to sprvti n3 a medium of communication
between tho Admiralty nnd the War Of
fice und tlio public, nnd thereby to serve
the nwspapcrs and public with reliable
news.
Tho llrst piece- of niWH Issued by the
Press Burr an gave rise to tho preliminary
skirmish with the newspaper correspond
ents It was statrd In a paragraph on
opprallons In Bt Iglum that thu Germans
werr Intrenched along the lino of th
River Alsne Thp River Alsne was not
inpntloned In mnps and atlases of Bel
glum, th" correspondents found, but ther
Is a Rlvpr Alne In the Trench Ardennes
Mountains
So ipprespiitatlves of thp newspapcis
hurried to the War Olflce and the Pres
Bureau to eleai up this hazy point.
"We can give- no Information outside
tlio offltlal statement," was the bland r-
Ply
"But ou pee how impeirtant It Is to
Know whether the Piench River Alsn
or Home smaller stream In Belgium !
meant." said one correspondent.
"Wc have- nothing to snv beyond what
Is contained In tho official communica
tion " wa3 all the satisfaction he got.
After a deal of arguing It was ascer
tain, d that the official who had drawn
up this particular statement had goni
homo and was not to b" disturbed In his
slumbers, and that nobody else nt the
Press Buicuu knew anything about tho
mattci
The Dull News hud this to say In an
editorial:
"Most people know by now that the
censor Is nt work and very active In this
count! No patriotic person will com
pldln of that, so long as the censor does
his work In a rational way, for the Im
portance of preventing useful hints
reaching the enemy Is obvious. The cen
sor becomes a subject of complaint when
he bccomi'3 unreasonable, and there Is
an Instance which shows how the thing
should not bp done
"A week ago a Belgian newspaper pub
lished a plecp of news of particular In
terest to r.ngllshmen On Sundnv th
Krench paperj printed the same informa
tion v lth gip.itpr detail. It was not .
private message, but a communication If
supd to the w hole Trench press by th
Trench War Ofiice
"Now, this piece of nevva the censor
over herp forbids the Ungllah press to
publish, although, as we have said, It con.
cerns the English pcoplp more than any
other people
i1
'!
$100,000,000
NEW YORK CITY 6 REVENUE BONDS AND
CORPORATE STOCK NOTES
Maturing as follows:
$57,000,0. J 6 Corporate Stock Notes due September 1, 1915
$18,000,000 6 Revenue Bonds due September 1, 1916
$25,000,000 6 Revenue Bonds due September 1, 1917
Price 100 and Accrued Interest
These three issues are direct obligations of the City of New York
Exempt from the Federal Income Tax
Exempt from all taxation in New York State exc pt for State purposes
Interest at six per cent, per annum, payable semi-annually on
March 1st and September 1st
Principal ami interest payable in yold coin of the United Stales o America of the
present standard of wight and fineness at the affice of the
Comptroller of the City of i'civ York
Gwpmi form in denominations of $500, $J,Q0O. $SM) and $10,000
Registered form in denominations of $500 and multiple thereof as desired
Coupon and registered forms interchangeable.
I-HEIGHTS AND CHARTERS
?;?ilVt7,:n'7rLtt.in,.'e'6P,lraa..,e" $,
litmli ( eminent liaj iluJ contract for
jix vfU to urrj oata v
.vrKAMfcllll's.
icVfV? '.'P 'MH-lmore to llergen, grain.
ISikii quurlera atout 4 r romnt
llolllntui tiirl. Ildliimurv to llonieaux or
ironiw """ J,MW uattcr- -' 3.
..i(i!?,:t,"y nr IWilmure ' IWrdeaux. oat,
i'1 1" iU4rt '.' j.. promot " '
MotwMiuil fllr) imuiuort to jlckel noru
I nltuJ Mnuiloni ones M tX quarter 1 u
optluo rit-mli-itumlc purti. : jt. ) i,rorni't'
Malund tllr ) name ' '' '
V'ttuura J luirrlnaa (Ur ) .lOtHJij imartir
l.llv ellr) llaltimorc or .Nuiport Ne to
. ".. .. iuiw, uii. o umj iiuarters
.' i'e.il ircmiu ' ' '
Ki .iirtioit, iluu uuir tu i hrUtlanla. l'l vut
iuarter 4s II inonipt
I'raulgnLors Uari i t'lilludeliihU to I'onen
liukui iHtrolvuin uuxi burrl, irlvattt terms
r ruiuit
ItiifcB Ngr) r.1)7 tmu. Ilaltlmoro to Itlicr
i'l.te taal nrlat terina uramot
4s)ininrtaa (Nor ), SSOS toot Phllaaclphla to
eVJIi toul nrhate ttrinn. irumpt
ilariiaiuc Ulr ) -till tons, Norfolk to Mdl
tcrrai.an coml rrnate turna. prompt.
ikro (Ital) aiON tons. Virginia to ncM
Taet Ital e al i-rjiottj teima, irvm?'
ire are advised that these bonds and notes are available for the folhwitit purpuses:
1. As part collateral for circulation, under the Jldrich-Freeland Jet of May 30, JQQ8.
2. As security under the Workmen's Compenuition Laie of AVu- York Stale.
3. As an investment for Savings Banh and Trustees in Xeu York Slate and eUeiJiere.
A syndicate of banks and trust companies of New York City has purchased these bonds from the City
at par an I accrued mlerest, A large pari of the bonds hating been withdrawn from sale by the subscribing
" -"i'-i " u"c - wmamuer, on ineir behM, m public subscription at the cost prica
Suction boots , te .Wrf ut U o'clock noon, Teda. ,,, Xnd. ION. or milt,, , rfMrrQ t ak.i
the tiaht is leserved tn reini nn nnrl nil hhli.n... ...t ..t. ... - . MM ". Mladd
' ' "" """' W,,M """' '" "" fBr "rtf mtUr amumnhan afifiUed for.
d pplieatiQiis for bondi should be aecqtnpanied bv a remittance in W YaA hi. t ts. e . , ,-
The Glance will be p((ioble at the tfim oftheundmlnTiZdlv smJZm i ? fW ? $im 6 W
be allotted, the balance ed the defij uUI LZmSSS fllJ to of , mmd for
--.. --.,- jj aumatit rminuuy tl (W gtS.
iKB
gtl
9 mm
JL'ef
iiL
. P. MORGAN P CQS
Neu York, September 17th, 1914.
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