'' VW1 mi,LM 'gmiqgprm wwwwmmvmm1"' 9gFtyml9!Wmm "" 'vmmmpinm-yif? EVENING- LEDGEB-PHILADELPH1A, FKIDAY, 8EPTEM.BEli 18, .1(314. ' 13 yiNANCIAL AND COMMERCIAL SITUATION AT HOME AND ABROAD-MARKET REPORTS MEIGN EXCHANGE MARKET DROPS TO ANEWLOWLEVEL Rates Again Collapse, but Late Recovery Develops. Decline Imparts Greater Strength to the Financial Situation. Another collapse In foreign exchange , m the feature of today's trading. ?lte . louc ed the lowest level reached TdZot begin Us general war and in .-.lilt was to Impart to tho ninrtset iltreng r feeling of confidence than 1... tl apparent for many weetts. rLrly In the trading tho market be - irratlc and rates broko ns low as S to 3 for demand sterling and 4.S3 linv for cable. Thoro Was a later re- Xfto SSI'S m ?.? w a buying from many investors ... n.v " sucssful financing of Now York Cltr's foreign debt and freer offerings of cot- Ion and 8rnln bllls "nucncca' ln larB ?Jurc, the drop In exchange rates. There Is reason to believe that within Vi next ICW uay me Aaiewa.B ...-...-- STn ...umo rlr.ynormal proportions London licvrs is muio u,i.uio ..- . Improvement there has beon one of the most notable features of tho whole flnaii Hil situation. Thero Btlll continues tall of reopening tho Stock Exchange there, ind confcrenceB aro dally under way be tween Kngllsh Lankers and brokers and the Government representatives looking to tome early action along this lino In viow of recent French and English successes on tn jimui".in jcv., v.. ..... .-...... treasury bllls are being offered In Ixmdon on a 5 per cent, basis, and aro reported to have been taltcn freely at this figure. LONDON SITUATION1 IMPROVES. nother evidence of tho Improvement .broad Is shown In tho weekly return of tho Bank of England, which has Just Iten Issued, and which gives the propor tion of reserve to liability at 21.18 per ctnt. This represents a gain of 6 per tent., as compared with tho reserve as It itood at the outbreak of the war, and tn Increase of about 1W per cent, over list week. The Institution has added (SOK002 to Its reserve during tho week, tiid 15,060,000 to Its bullion holdings, whllo there has been a big contraction In loins, other securities showing a decrease of jlS.fwO.OOO. Thero Is a net falling off In deposits of $7,000,000. A decrease In cir culation Is noted of $2,993,000. This finds explanation In tho contraction In trade end restricted expenditures ln different directions. There was a good attendance of brokers In tho London financial district today, but trading In securities was not Irlsk. Gilt-edged Investment Issues were lifeless, as brokers are not willing it) take risk of advising clients because of fixed prices. Australian mining Issues hardened on the announcement that the Sydney ami Adelade Stock Exchanges wild be reopened on Monday and that the exchange at Melbourno would resume business shortly. An Issue of 2.000,005 sterling Sao Paolo, Brazil, notes matured today. Metropolitan Water Board bills to tho amount of .1:1,000,000 were paid for. Call loans were plentiful at Vk per cent. Three months' bllls were 3 per cent. An Issue of 20,000 Indian Government bllls fclll be offered next "Wednesday. Thanks to an Improvement In tho Eu ropean war situation, duo largely to the reported victories of tho allies, each day witnesses an casing up of conditions In the financial markets, with buyers show htr a more noticeable desire to get Into the trading. Thero Is a broader dis position to buy stocks. This Is apparent In the Increasing number of daily sales In the market here and In New York. Securities that last week could And no takers because of an indifferent demand, are now being bid higher. Quotations maintain a stability which Is surprising to Investment brokers, and the situation, on ire whole. Is considered In general good shape. meeting wa3 held in Washington loday between bankers and a bpeelal tommlttce, appointed by the Federal Re rve Board, to report on the advisability of furnilnc a ?150,00i).oc gold pool to re lieve the foreign exchange situation. The general belief prevails that only a small mount of this sum will be actually needed, but tho fact that It is proposed to make such a large sum available is "pected to aid materially in the further Muitlon of foreign exchango rates. BIG LOAN OVERSUBSCRIBED. An announcement from Nnw Ynrk this afternoon said that thero has been a very leneral demand for the unallotted portion " tho tlOO.WO.OOO Now York city 0 per tent, corporate stock and two and three !ear revenue bonds, and that the loan ouIcl undoubtedly be oversubscribed. corporation and individual investors re taking oxtensivo account;) nf the "" Issue. No figures were given out y the syndicate managers as to tho mount or applications, but it was made "own that subscriptions were coming in japidly from alt parts of tho country M also from abroad. One New York torporatlcn suoscrlbed for $3,000,000, and "other for UOOO.OOO. At the same timo a sreat man letters and telegrams were ceived at the ofticea of J. V. Morgan "to., and Kuhn. I.oeh & Co., whom wscrlptlons were taken, bidding for "os in amounts ranging all the way p ? up t0 mnny thousands. , ".n( houses tudaji reported that moro inquiries, which became manifest yestcr m...w'w continuing today, and In some anmn.actu.8l. sa,es we"e I"all, Small St'f Heading general mortgage 4a ffi f?r 92'--- off 'a fm the July 30 clos iandi ifL'V, c sturu8 Battery changed KoriL?1 a"d fractional offerings of Ptn!u ,entral soM at rror" S3 to S3 due tVii ',a. ''"'"Pany convertible 3'is, i 191J, sold at 07. The follnuin- i,i.i ... , .. Ported- i ... u,m ortora were re-IIv!n'- aS":M,,e 1,U1 and Schuylkill om piiskc,H,eI"!1l"il 52; liar t to m1iS 101; Phl'auelPhla Elec nl PniuL t'noreland Coal stock, 60, Adfi . 1)hia Taction. Wi. Wa housJ ll" N.ew York to PMIatlel. mSdff ?J the effect tnat H m 've the ZJT Wesehouse slightly "tucks ?r"",K ?f Juy M- Standard Stations tL " dman,l at advancing 8e, sntee.rahte,S.;0a53r,;.rad,,,ff ,n Un,ua No GERMAN MORATORIUM '''ti'ifinor!!1.0 announeemcnt that there ,lra o? it L nv0r""n '" aern'a"y t this nt Ami or r- prcvlu tlmo. a proml " lacks erma!1 ba"lers sajs tho !" adds thV. rnyr6,ub,s,tance ot Uci- Ttl bn clrcuai!dphrvol'3bl"''s report has ?lli the luuiJi pepI I10t I" ""eh hrlw'. whirif ' """taking a mora- "nton 0 ";, """-"a a. general sus PREDICTS BIG FRENCH DEMAND FOR U. S. GOODS Foreign Trade Expert Says Bequests Will Be "Simply Enormous." Restoration of pcaco In Eutopo will be followed by a big demand for American manufactures, especially machinery, ac cording to an opinion expressed in a cablegram received hero today from Franklin Johnston, publisher of tho American Exporter. Tho message, which was dated Paris, September H, appar ently was delayed In transmission. It read ns follows! "Business conditions hero aro remark ably good, considering nil the circum stances, nnd are Improving day by day. Thero ha been nn especially marked Im provement this week. All shlpptng routes from Prance are open. Considerable manufacturing Is still going on and ex ports of tho specialties and luxuries which are typically French continue good. "The futuro demand In Franco for American machinery and manufactured gooda of all sorts will bo simply enotmous." RAILROAD EARNINGS VIRGINIA RAILWAY. 1011. Decrease. July, crnai $lflI,Btl S37.BS.1 Corporation Income 10.1.40J JS.OSJ COLORADO AND SOtlTIICrtN. fiecona week Sept.. $272,8ft1 W3,319 From July 1 3,773,S55 W07.103 CIIBSAPCAKU AND OHIO. Second week Sept 58O7.0SI t(2,7M From July 1 S.213,101 010,701 Increaso. TKXAS AND PACIFIC. Reeond week Kept $.103,713 $40,315 rrorn July 1 H.Mo.ios 03,370 MISSOURI PACIFIC. 1014. Decreaie. Second week Sept. . . $1,133,000 IH87.000 From July 1 12,880,101 200,028 ST. LOUIS SOUTinVKSTMlN. Second week September.. $202,000 JM.OOO From July 1 S,SS1,0on 388.000 CHICAGO, lNDIAMAt'OMS AND I.OUIB- VltiLU. Second -cck September.. $t4'!,0rt0 $11,10' From July 1 1,517,014 14,713 GRAND TRUNK SYSTRM. Second week Septcmbor. ,t,m.M2 $17,014 I'toni July 1 M,7fi2,S12 077,(110 P. R. R. WILL HOT CLOSE GREENWICH CREOSOTE PLANT Other Railroads Forced to Such Action Because of War, but Pennsy Has Year's Supply of Oil. FUBLIC UTILITY EARNINGS PACIFIC FOWISR & LIGHT CO. August 1UI4. Incrcane. Grons narnlngs ?123,4r 310,014 Net earnliiBB C2.2S1) -1,383 Twelve months: Gros earnlntta ?l,.'14'!,2'.i', 7.t.f0T Net earning Cn7,."cr. 07.C11 KANSAS OA3 & ELHCTRIC CO. Iteporta for August: GroM earnings X70.700 11,401 Net earnings 27,085 770 Twelve months: Gross earnings .$1,110,000 .$112,008 Net earnings 403,025 53,051 DIVIDENDS DECLARED Taylor-Wliarton Iron nnd Steel, regular seml-unnual 4 per cent, on common, payable. October 1. Rooks close September 21, re open October 1. Southern Utilities Company, regular Quar terly li per cent, on preferred, payable October 1. American Public Service, regular quarterly 19i per cent, on preferred, payable October 1 to stock of record September 23. Gencr.il Chemical of California, regular quarterly 1 per cent, on first preferred, paaoi wtoDcr i, to siock oi record Sep tember 10. Styles nnd Cash, a quarterly of 3 per cent., payable October 1. Washington Water Poner. a quarterly 91.75, payable October 1, to stock of record Sep tember 12. Tlireo months aso ,52 a sharo was declared. Hawaiian Plantations, monthly ai follows: Hawaiian Sugar, 30 cents ami SO cents extra; Hutchinson, 13 cents, and Paauhau, 15 cents. New England Power, a qnartorly of m per cent, on preferred, payable October 1 to stock of record September 23. Vncuuni Oil, regular semiannual ft per cent., paablo October 31. to stock of record Octo ber 13. Houghton County Traction, regular semian nual ?.l on preferred, payatilo October 1 to stock of record September 10. Massachusetts Lighting, a dividend of $1.75 on common, $1.50 on new preferred and 25 cents on new common, payable October 15 to Steele of record Septcmbor 25. Cincinnati Hamilton Traction, regular quar ttrly 1 per cent, on common and l'i por cent. on preferred, payable October 1. MaeAndrews and Forben. regular quarterly li ner cent, on preferred and regular quarterly 2 V4 per cent, on common, both pay able October 13 to stock of record September 30. Despito Jhe fact that Importations of creosote oil, used by the railroads In creo sollng ties, have been almost entirely cut off by tho European war, causing tho ptants of several railroads In tho Mlddlo West to close down, the Pennsylvania Railroad announced today that the com pany has enough of this kind of oil to treat nil tho tics It needs. A week beforo tho war began, the Pennsylvania Railroad received a ship load of tho oil from Germany, from which country tho best brand Is obtained. This waa divided between tho company's two crcosotlng plants, ono at Greenwich Point and the other at Mount Union, Pa. When this supply of oil Is exhausted the company will uso the domestic product. Tho company has a large supply of tics on hand a.t both plants, -which Is now ready for treatment. It waa announced today that thej crco sotlng plant of the Missouri, Kansas and Texas Railroad, at West Donlson, Tex., had beon closed becauso tho company's principal sources of supply of oil, Ger many nnd England, had been cut off. Annual Inspection of tho trnck of the Pennsylvania Railroad from Pittsburgh to New York will bo conducted on next Tuesday- and Wednesday. General Man ager 9. C. Long and a party of 230 of ficials ot tho operating department will start from Pittsburgh on a special train. Pennsylvania Railroad, in carrying out tho company's general retrenchment pol icy, will dlscontlnuo tho following small passengers stations on the Pittsburgh di vision after October 3: Weaver's Old Stand, Brlnkcrton, Shoup, United, Trau ger, Udell, Hccla, Mutual, Calumet, Rum baugh. Mammoth, Pleasant Unity Cross ing, Marguerite, Leigh, Pcnnsvlllo, Cham bers and Blddlc. Northern Pacific Railroad during tho company's last fiscal year sold SOO.OOO acres of land, according to Thomas Cooper, land commissioner and assistant to the president of the company. Tho land was principally ln Washington and Montana. A temporary Injunction has been grant ed In St. Louis preventing five vice presi dents of rallwaymen's unions from call ing a strike on tho St. Louis Southwest ern. The five conductors said that a ma jority of tho engineers of tho road had voted against a strike. On next Tuesday tho defendants must show cause why the Injunction should not be inado perma nent. The trouble Is the result of the management's refusal to reinstate a con ductor who waa accused of drunkenness. With a view of promoting more Inti mate commercial relations between tho United States and South American coun tries, the New York Central Railroad, In conjunction with tho American Express Company, will send two agents to the principal cities of South America. f 'llllllllllllllllft ' I GRAIN SHOWS MORE STRENGTH; STOCKS GAIN IN VOLUME FOREIGN EXCHANGE NEW YORK, Sept. 18. The market to day broko again, with denund sterling l.Oagi.Wi; cables, 4,D.ia;$i4,9l; marks, Kc, and French cables, U0tf5.11. PORT OF PHILADELPHIA Sun nnd Tides Sun rises. 0.00 p.m. . 5.41 a.m.lBun nets. PHIIiADKU'HIA. High water.lU:P a.m.mish water. ,12:2ii p.m. Low water.. 7.22 a.in. Low water... 7:3T p.m. ntlUDY ISLAND. High water.. 0:lha.m.Wlls1i water.. 9:ttp.m. Low water.. 3:40a. ni.IJ.uw water... 3.-55 p.m. HHEAKWATDR. High wnter. 6:4i)a.in.illigh water.. 7.02 p.m. Low water. .12:30 a.m.! Luw water... 12:3u p.m. Vessels Arriving Today str. l'ranlenborg (Dan.). Schmidt. Delaware Ilreaknatcr, load oil In barrels at Point llreejc. faprlW Hr), from .Shields, U Sandy Hook, to load toal. ,.,... I'und.i illr.l. from New ork, load Thomp son's Paint. ..... Ilk. Pramner CNor.l. lluenos Avres. bones, anchored off Mareus Hook for fumigation. ll.ittleshlps Missouri and IHlnoLi. trom -An- Ilfl.tH)llS Mr. Alglfis. New York. nien-handUc. l lyda Mr'. Etrom (Dan.), anchored at llrcakwater, ordered to llaltlnuire. iur.n Doling lllr.). for Ilaltlmore. (lrie'aiw (Br.), for Ilaltlmore, Venlmoor lHr., for Falmouth, for oiders. Ve,lr.i t!r.). fur llanos. Auchencras CPr.). Havana. Pawnee, tcr N'w urk. George W. I'ljde. Steamships to Arrive PAbSKNGER. v-,ni l-'roni. f 'arthaBlnlan Glasgow Mongolian Utamralla. Dominion . i'aie, j;ein. a .,, Glasgow Sept. in Gfnoa .fept, 5 Liverpool fipt. Ill FItUiaUT. Hotterdam . ItnttfrdJIll . . ...lxnJon .. . Undon . Manchester ?nc T"' Paments aeainst credit which Of a,,,. SfW. for" ' ijwnt. against ;m o.., . a CI tno C.ernian blcl .ked ,hCll ,su'd August V). rWlhdlM"M? COUr" l daa' ? Wa tons in'"8 of "turln long- "4" ? rec,ly to roced to effects "Hfti'J? ' the same rir, i,. iSS'Wt.;."?. 9e'"y by orelga lty - -4 inree moath at f.ulderdyk Amiteldyk ... Maluo .... Hart Point.-.. Man. Mariner. Steamships to Leave PASSLWOER. Foi. Lhtrj'ool . Naples ...... GUbgOW ..... Naplt-s FRBinilT. CuKiihageii , Name llaerlord Anci.na. ... Carthaginian Stapipu- . . .Sept. 5 gei't. 15 . .Sept, 3 . .hert. 12 ..h'ept. lu lUte. ..Sept. 10 ...Spt. Id . .Kept. Si) . ..uct. u ..riept. -Sept. ID -bept. 2tl Sept. 2u TMnlafirir7 . . . Man. Bchn WanUiester "ulderdk Rotterdam sailing' -xoaay Aiico'-a (Hall, conslgllerle. Genoa, U New Yora, paksengers and merchandise. PORT OF iNEW YORK FINANCIAL NOTES Among tho new Philadelphia members of the Investment Bankers' Association of Ameilca an Cassatt & Co., Brown Bros. & Co., and William P. Bonbrlght & Co. George W. Kendrlck. 3d, a member of the Arm of E. W. Clark & Co., and William West, of tho firm of Henry & west, are momoers or tho Bontd of Governors of tho association. Tho next annual convention of the organization will be held in this city In November. Tollx M. AVarbtirg, a brother of Paul M. Warburg, member of the Federal Re serve Board, has been elected a director of the Baltimore and Ohio Railroad, suc ceeding his brother. The Legislature at Kingston. Jamaica, has Increased ad valorem duties from 10 to 16 2-3 pr cent. It also voted $230 000 to tho war fund contribution of the Em pire. Resolutions have been adopted by tho National Association of Credit Men, In which a strong appeal is made for tho restoration of peace among the belligerent nations of Europe at an early moment. The resolution also warmly commends the policy of absolute neutrality adopted and purJued by President Wilson. Banks lost to tho Subtreasury yester day $153,000; blneo Friday, 52.453,000. Elmlra Water, Light & R. R. Co. has sold fiSI.COO 5 year 6 por cent, collateral trust Cs notes, secured by deposit of $253, 000 consolidated 5 per cent, bonds of 11)50 and ulio has ismied under mithuruatlou of the Public Scrvliv fommlsMun ?1-5,V00 7 per cent, riimtilatirc first preferred stock. V. Uarklk- Henry, foimoily of I tuny & AVeot, has irturnrd from Newport, 11. I., whci-o he spent tho greater part of the biimmci, WILLIAM S. EVANS Candidate of the Philadelphia Chap ter of the American Institute of Bank ing for the presidency of the institute, the annual convention of wh ch will be held in Dallas, Texas, on Septem ber 22, 23 and 24. 20 LOCAL DELEGATES LEAVE FOR CONVENTION AT DALLAS William S. Evans is Indorsed for President of Banking: Institute. Twenty members of the Philadelphia Chapter, American Institute of Uanklng will lcavo Philadelphia thia evening on the 6:52 o'clock train over tho Pennsyl vania Railroad for Dallas, Texas, to at tend tho annual convention of tho Amer ican Institute of Banking, which will he held In that city on September 22, 23 and 21. They represent the local chapter as delegates. Among them will bi William S. Evans, of Henry & West, bankers and stock brokers, who has been unanimously Indorsed by tho Philadelphia Chapter no Its candidate for tho presidency of the association. As yet no opposition has de veloped against Mr. Evans. The party from this city will Join the delegates several other Eastern cities in wasnmgton. A special train will be taken over tho Southern Railway to Dallas, where the party will arrlvo on Monday, establishing head(iuat tcrs at the Adolphos Hotel. About M delegates from all parts of thp United States' will attend tho convention. Thn sessions will bo dovoted to economic discussions of banking, and tho election of oltlccrs will be held on the 21th. On tho way to Dallas tho party will nonU a day in New Or leans. There will be a debate on tlif proposi tion of Oovui-timcnt-owiii'd tWepliono lines, in wh,-i, Philadelphia will havo the negative side. William A. Allen, .Jr., and l'aul Detwllor. or tho Philadelphia rational Bank, and It. IT. Froy, or the Pennsylvania Company for Insurances on Lives and Granting An mil tie, will rep resent tho local chapter, whllo Chicago will have the afllnnative side. The delegates rrom tills city are: -I. I! Borden, V. H. Chaffee, A. II. I 'onto, P. R DotwIIer, W. S. Evans, A. C. I-Vlis, c. W Fennlnger, P. U. Froy, IT. ,T. Haas, X. t! Hayes, Harry Kollock, E. .1. Morrli, D. J. .ujers, w. .. aiuKcnl. T. W. Scatterguod, W. H. Stroud. J. O. Wallace, O. S. White, William W. Allen, Jr., and. F. (.'. Eves. ASK MOTOR RECEIVERSHIP Lozier Company Creditors File Bank ruptcy Petition in U. S. Court. DETROIT, Sept. IS. Tlireo creditors, of the Eozler Motor Company hao llled a petition In tho United stateH circuit Court, asking that tho company be de clared bankrupt. It Is undei stood that io liabilities aggregate $2,'Q0.O). The Plant has been closed for sonn time pend ing effotts at reorganization. Increase of 2,150,000 Bush els Reported From Indian apolis Alone Both Corn and Oats Are Firmer. CHICAGO, Sept. Ig, Wheat opened quiet but stronger today, with Decem ber up B at l.l(y, and May up 1 cent at $1.17?i. The receipts In the Northwest wcro smaller today. Sentiment In the market appeared to bo more two-sided. Tho very heavy tecolpts of both winter nnd spring wheat thus far this week and accumulating stock, Including an Increaso of 2,150,000 bushels at Minneapolis alone, havo caused Increased hedge selling. At Liverpool the decline In the Amer ican markets yesterday nnd an easier tendency at Paris tempered the firmness prevalent thero on Thursday, and open ing values wcro unchanged to M1. lower. Tho demand at Uverpool Is becoming more pronounced from outside sources, and countries other than North America aro offering practically nothing. Shipments from Argentina for this week wcro 21,000 bushels, against 101,000 bushels a year ago. Tho visible supply there h -120,000 bushels, against 660,000 a year ago. The stock In New South Wales and Victoria is 3,464,000 bushels, against 4,732,000 bushels last year, and in South Australia 656.000 bushels, against 1.408,000 bushels last year. The receipts of wheat at Minneapolis and Duluth today wcro 1009 cars, against 1075 cars u ear ago: at Chicago, 353 cars, against 70 cars a year ago; at Winnipeg, 1164 cars, against 1HS cars n year ago. Corn opened Armor, but trade was only moderate. December was up j, at 71, at the outset, and May up U, at 7S'3, but lost tho advance on selling. Shipments from Argentine for the week were smaller than had been expected, amounting to 2,202,000 bushels, against 4,S31,000 bushels a year ngo. Of the week's shipments, l,76ii,UiM bushels went to tho Continent, against .1,G13,0iO bushels a year ago. Pi Ices ut Liverpool were up Id. The weather in Argentina is Jiifavorable for conditioning corn. Tho vlflble aupplj in that country is S,100,OCO bushels, ngalnt n,75,000 bushels a year ago. The receipts of corn hero to day were Gb cars. Outs was firmer. Trade wns less active, but well distributed. Six steamship havo ben ehartercd to take 1,.V).(V) bushels of oats from Ealtl morn to Front e. December opened up t;, at JO'j. .ind Mn up !,, m 32;. Heceiptt, of oats hcio today wore lis cars. Leading futures ranged as follows. Vnatnr.l..... ."!,. .IIU . -. ."-,,-"'". wi'Vll. IIISU. I.OTV. I. lose. llPflt ' September , lc-tmtior May Corn uicv i-'rpternher , December . -May Hut:-S-eptemIer . December . May Lard September . Ootoner . . . iDnuary Ribs - FpTtfr.tbcr ' Molter . January Pu.-lr- SeptemU'i- Jai.unry i.i fWi i ia 1.17 1.10 delHory)- eloso. I.C7', l.O'ii. -M.1H i.j, i.i 0; ti.is--4 n.ii.i, STOCKHOLDERS' PROTEST IGNORED BY DIRECTORS Transit Officials Table Petition Not to Ilecognize Transportation Problem. The protests presented by n majority of tho stockholders to President Jeremiah .1. Sullivan, of the Union Traction Com pany, against tho company recognizing In any way the rapid tranelt program, were not taken up by tho Incoming Hoard of Directors of that corporation when It met to organize at noon today. A majority ot tho former directors, all of whom wero te-electcd at the stock holders' meeting last Wednesday, at tended the meeting today. Jeremiah .1. Sullivan was re-elected president, Charles E. Heed, vice chairman of the board, nnd W. .T. Shields, secretary and treasurer. The meeting then adjourned. James Ony, a member of the board, when asked what action had been taken In regard to tho protests, said: "That matter Is settled, nnd will not conic up." No official action will he taken, lie s.ild, adding that the filing of the protests de fined tho attitude of the company, "This attitude has been well understood by the directors for a long time," he said, "it was settled long ago that no aetlon would bo taken In regard to th transit proposition." Tho protests will be pigeonholed in the safe of the Union Traction Company In definitely, said Mr. Gay. WAR'S DEMANDS CAUSE BUSINESS TO IMPROVE Local Men Optimistic Exchange of Professors With South America Proposed. Thero Is every indication of an Im provement In business generally, espe cially In manufacturing lines, nnd It is duo largely to the present strugglo in Europe. Tho waste caused by the big conflict and the scarcity of worklngmen havo already started American wheels to hum. The Welsbjch Cotnpanv, whoe plant 13 located In Gloucester, N. J., announced today that it had employed moie than 500 additional hands to keep pace with the big domestic trade resulting from tho war. A representative of the com pany said for tho first time In tho his tory of the company orders were received from all parts of the world. Both Europe and South A mot leu are making big demands for clothing E!:J, as a result, many textile mills which have been tunning a llttto more than half tlmo are now running full handed. The local manufacturers arc receiving requests dally from Europe to do their bett to meet tho demand. Every effort aleo Is being made to open a steady market with South America. As representatives of several South American llrms are now making In fjulrles In this city tho business men feel optimistic. Ab a means of Improving South Amer ican trade relations. Dr. Itoswell C. Mc Crca, dean of the Wharton School of tho University of Pennsylvania, has sug gested an exchange of professois between South American institutions nnd the Unl vcrsit. Ho points out that Yale lias successfully exchansed wlt.i German uni versities and contends that a similar pla.i with South America would be equally as successful. GOVERNORS PLAN TO SAVE COTTON CROPS WITH STATE BONDS Will Propose Issue of $250, 000,000 to Buy 5,000,000 Bales at Ten Cents a Pound Suggest Acreage Cut. Cotton men In this city aio Inteiestei in a conference which will bo held in Wash ington oil Monday next by the Gov, -nors of nine cotton States, when n plan will be discussed to save the cotton crop from low pi Ice destruction. The plan involves tho Issue of (250,000,000 In :i per cent bods by the Stntes involved The proceeds will 1" used to buy and stoi o,MW,000 bales of cotton nt ten rent' pound. The plan, which was, advanced by W C. P. Harding. Birmingham, Ala., a mem ber of the federal Reserve Board, will, if It Is agreed to by the conference of Governors, require legislation by th States Involved. Included In these States aro North Corollnj, South Catollna. Georgia. Florida, Alabama, Mississippi, Louisiana. Texas and Atkansas. The con fcioNce. It is understood, will nrrlvo at some definite basis of division between the various Staff 3. fixing the amount of bonds each hhould Issue and the nmount of cuttoit each should putcha.se. A plan will also be brought up to cut next year's cotton acreage 50 per cent. This scheme will be advised by the special committee of Senator and Representa tives from tho cotton growing States after consulting a number of decisions of th Supremo Court. This committee will re port to the full conference that tho Fed eral GoverniiRiit has the power to curtail the production of cotton by placing -prohibitive tux upon it. The committee. consists of Senators Clark, of Arkanaas; Williams, of .Mississippi, and White of Alabama, und Representative!) Hardwick, of Georgia, and Burgess of Texas. Alternative proposals for a prohibitive tax on the production of cotton In 1013 will also be placed before all the Senators and Representatives from the cotton srowlng States. DEMOCRATIC TARIFF CAUSES RESTRICTION OF PLANTS ROCK ISLAND BOND DEPOSIT in BANKS GAIN IN CASH XEW YORK, Sept. K-Kiiuvv u move ments of money for the week ended w Itli tho closo of business uu Thursdnv indi cates a f?aln In cash by the lucni' bnnUx of $3,346.CO. They gnlued by illieet ex press from the hucilnr $s.7f:i,6i 0, i,ut lost to tho subtreasury J 5. IW.irt). This hs Includes tho gold token from tin- institu tion for shipment to t'un.ul.i. The loss on subtreasury account alone was fz,. 432,000. Tnv. 71 75' t I'M, 7'i 7Hl .-.oi.; .v.u 70ti mi 31i T.i, 71S 7auj Ami uu; 32U 701-, 70', 73 'I, 4(W4 4IVi 52, . !.42 .1U. , IlU,-, 10..-.J 1U.0T f,.t2 .U7 n..-.o D.r,2 10.07 . .. "11.40 lu Mi W.OV, 10.7.-. "UM. tAikcd .20.1,-, i'0()7 20.12 'SO.flT 0 .17 '1 4 ". 10.M 1 1 .S3 ' 10.(1) 10.0-.' IT..". 20..V. NO HOCKING DIVIDEND ACTION Directors of the Hocking Valley Rail way have taken no action on the regular (luaiterly dividend of 2 per cent. Xor nmllj, this dividend would have heen de elared several ue,.i,6 ago. Chairman Irumb.ill said after the meeting of the directors In New York that he had no statement tu make. About SI 8,000,000 Have Come Under February Agreement. XEW YORK. Sept. IS. -A circular has been sent to holders of Chicago, Rock Island and 1'nclfle collateral trust bonds of 2002 stating that there havo been de posited or agreed to be deposited under the agreement of February 2S, 1914, sub stantially tlS.OiO.uuO of bonds and that ap proximately J7,000,0" bonds have been de posited in Holland with a committee rormeii there, and with widen tne Home committee is in communication. The trustee has declared the principal of the bonds to bo duo and lias brought an action which Is now ponding to fore close the trust agreem.-nt and for the ' sale of the pledged stock. It Is btated I that It Is possible to carry through a plan I making adequate provision i;,r the future financial needs of the railway company. A commltteo Is now engaged In the preparation of such a plan which will provide tor the purehasu of the pledged j stoi-k nt foreclosure sal- but which will I not deal with the financial requirements of the railway companv. coirs- BANK CLEARINGS Ilmik i-lMrlnga fiilnj ,-onipare ltl ipundini; day ut two vear. PMIaJelphla. SL".fwii.-.!.1l Sfl.WLHS J.'fuiifo'iii ,;. "'."I. -Wi S.t..1!ll.-(SS lS,!IU3rt Ik 5175.7CS.101 go.a.27l X.IU.I 70a 207 llOitilll Xevv Vo PHILADELPHIA MARKETS PROVISIONS TIlO mrkft OlllPt nntl iinrli.ny.il. v : Western bf. in .m.,1 iujUl'p : . tr . !'iniaiir.tJL .,-... V . Pr tl- i'T. x. i.l li. I T ..'. k llirl.l-, . t - .-. WHEAT CONDITIONS IDEAL MINING STOCK MARKET Trading Here Firmer With Offerings Not Equal to Demand, The market for mining stocko in tills city la displaying unusual ilrmnees and mure stocks are wanted than are being ofleied. Tht-sa quotations ara ruling: Jim llmler i?tu ;o Jlliiway Ift 12 llljpah IDS 21 Montana to-fi 4.- Tonoudli Kxtenslon 2 11. tow s. urn is 2IrT 2S l-lltf as IS ft M t::ntim Siit So c'ty l'tf, kiiurkles arm tciulers, diiiiiUo.i and on-.ifiiu, ...o.H.- : vvtvnern eer. Uiiurniva ami tenders, smoked. SSfiilK ; tepf Iiaiii, 40t!4.i, llann-, S. I. hji..,i, lwso, !V.'Ul"'i -. ! -aklnneil. loose, l.-.i.fi Kle. ; ile . ainnkeri. ISM i.io.: otnier luni. smoUed, mj .mil as In hrond and cured. IS&lfl.-. ; de . I...lle.l, l.one es 2&ra2Ho. ; plc-nlo stioulderc 1'. eure.1. loojic, lift t2 i.e. ; do., siouliel. I tu 1 1 V : oelIIs. In pkkle. areordhis tu nver.uo. Ihokb, lOsjitfic. ; lirraktast baeon. as tn l.ruiid and hv erase. tlty cured, 22621' l.r.'asM.iit Iiucoii. Weblcrn cured. 22(2I : t.ir.l. Wei'orn n?flnd, ileiees. 1 n, if 1 1 nlC. . ,1,,, ,)o, do., tub, 1 1 1 j ft 1 1 1, ; arj purr iii, kelllti ri-nilrfd. in tlen-ea, 1 1 3 fti 1 L', . lanj, i.uro city, kettle remlcml in tubs, lli&U'i'. l'ur' uuij,,' SUGAlt I'!".'2-50'""' otl!"' foo,i MinS varieties. ,-..,00..; medium. II .vi2.BO .inni. r,,.. . t-. . ' v. .?: ri.?i : t'S-.'.'ft 'J '-.. ". 1.o Ckp. c.kI i-,w.. ,,.'. """'". vrjnosrriea, ,3S"L'iC,ff; IVM. .,rk. rum-. I'uitones, . , j , ism- i-riirB , . i. ', if I i i . ..." Rn.t Marvlnn.i ,.:,: i.,,,1." '.;."" ' '"-fe per -iHie, 7.V.i?iSi"-,i.Iu',;1J';; .''' . .. ..-. - "' j'liuu. iiiiii ii l.75 l.i.1U Good Progress in West in Seeding of Winter Goods. The Moaern Jiiller as the weel, 1m-, beon Ideal for seeding of winter wheat, and rapid progress is made throuuhout tho bolt. The soil is In sood condition. I'nrmers in Kansas allow a pronounced tendency to hold win at, nnd the move ment will insuie oven marketing of sup piles. In the Northeast a heavy move ment of wheat from Uakotas was stimu lated by a good demand in Minueupotl and Duluth. Thero Is a shnrp recension In the movement of the bent grndos ot wheat from Noith Iukuta and farmers show a tendency to hold on t'j their supplier. Manufacturers Say Shortage of Water in Canal Has Little Effect. Clark Rollins, superintendent of tj Joseph XI. Adams Company, one of the largest manufacturer.'! of woolens and worsted yarns in thi community, at Main and Dupont streets, said today that, ci'iitrary to thr seneral opinion that the iestiict"d operations of the manufactur ing plants aloriK the Schuylkill, canal were due to lack of vater in the-S!U&l he attributed the closing of mills- direct ly to the reactionary effect of the free trade activities of the Democratic Con gress ill Washington "We are now paying a higher price for raw -wool than when the high protective wool tariff of the Republican party was In effect," said .Mr. Rollins. Tho firm of William Spink & Co., nt River road, Slatiaytink. manufacturers of shoddies and woo! yarti3. said that not lack of water In the canal, but un sound Democratic legislation was the real cause of their now operating only I about half the time. j While there has been a mild shortag I of water, word was received from manu facturers along me canal oy v infield Giles. In charge of lock Xo. 6S today, that too much water was coming through the canal, and requesting that it bt shut off. Tho water in the canul was 10 inches below normal yestercin. Today it i reported nt normal again. At Klatrock dam til" water is up to the top ot th 12-Inch strip at the top of the breast of the dam. In u few eases manufar Hirers liava been put to inconvenience by reason of shortage of water In the canal. Mosr of them have either .t"in or electric power and In many raws have both in addition to the supplemental watsr power. RAILROADS' JULY EARNINGS i. .., llufkleti-r. r,.r ,jt ! TS Ew$:x- U. S. AFTER PACKERS - M'OAlt llarltti ijulot ut ouotu rate. Siundard srunulnisd. 7'lne: fine Krunulutnl, '"' powdered. 7.1S.V : unl't!"iiMrs' ,, T.lac; soft jrado-. OI3ViOrK! dairy ntonifcrs fllKKSK.--rirh aetlie and firm, nitji icipliis well unJn i-onir.,1 New lorU tull crcani, choice. tit 0. lil'j do., du . fair to BOod. l."ljiir- do, I'urt skinw, UtlHr. HITnill, Th market quiet and without imporiuiH I'h.nisi'. aumiUiw moderate. West ern frrsli. bolti-pa,'ke.l ,-ieunier. funuy p ulalu, .'IK-.. e. Li'tlonal lots lilther I'llru. o'.'J ..iC-'.-i-. eiira nrsts. .lie . flrsl. 2ir.n lii'-,i . .3,-, - oud9, 27 '-j )l '.'.-'i' . hidlo uaokod '.'l'iSle.. ft to onus. .'T-jd. .!.. . Ui.iio i,.i'ki"l '.'l'(iie.. ft to '''. quality , neurkv prints, fan .I.V., du,, aver- onieiu. ... Hi,.n . tra.n iei-o- Piuaw, ,7f' Tt, Itoiffl'i,, S ",;,:'.l'".L2i',.r:- Per irmci, pc- no. 5Mjir, et.ta ni -rn, tldUct. Inti'.'.'V .' melons. en 4-1'.. W ater- KGHTABIJSS bucket. iniiai, ."" ""''" ".. Sh - .-, '.. "" T.V 1 Will Sue Swift & Co. for Aiui-trust Law Violntion. .li:FKER.UN I'lTY. Mo., sopt. i-.. ilstttnl Attorne)-i;euirul Wins ha an nouncti) t'mt. wmi rfll, .- -iiieiiinj; of tin Supreme Court, in OiHioer, he wdl tile quo wan an to proe-eding antj ouster iiiiit nninsit Swit & Co., ..r ctiieasii ami Kuti,a i 'In, c.iaigini; v lulution of the nnu-trut lo o.' ,Mifcu..i EXPORTS OF WHEAT J.ARGER NEW YtiRU. S"pt l.-nru.Utrif gives llie export of wlinet. flour il'elijdeil as uheut, from the I'nit. d titat. h and North Star Merger . West Knd AtUnta Coldrleld romnlldat'd Nevada RUU I nee extra. :a:tu do. mts. aero-.: do , eboh e. p.- Wi i- aiv ? Galley, reconds. 27ti'.".i HU1 faiuy bnirjdi ft (.- , i... i ",', ,1ir ' ,!l""'- medium .prints Jobbinu at :.lt.ill- U,. JMrH ,f-v ' V v?; ''riU', Per ' IUUi.n -Tiade fairly a.ue and nmrket 3o,', mus'ireon". mV i'ii, , h,r7". bli'5'ii..l- firm, with sui'i'lli'i well uudei .oiitrol. In "".inii , wr l-!b. b.tsl,tt. ou.-atl.co. Tree C3s. n.aroj cjihi .11. )(r jji.; in-iiro , 1 ' ij 1 v tx'l"k m otii ftrsts, .JS.lit per standuid cute ntnrby current lllil. AAW I'LUUu ',Pi!i.!.:i,SI-i!l 1V.f'..r,-1,iJI,,.'J,J'".'.vl?.1,-. ' ..LtL:-l'-?nipt.. 10.44s bush. ruuuinau it... -. iwr not . rvn. i st ro . zz"iw ttiittua mi iiit UfAk u . :iik iiin t.nuUci II. IUMI i...tr.uu' K' V?1 ' V. !0' - ,...,...,...,.. ,,,,1, -.-c.v.. , .... . m"wtM Pr W.I., No. I. S2.3ilftS i.V in "' ,',",K' "."" iv ji-ni mine juiv i tue .. ts. J.T1..1- ,-. i. .',..:. -..,-'.".' port iiuv Den .i.isi.uiu ouslials. ucm1i 1. ... . t .r,, tiaitiib-. STEAS1SI11P3 ARRIVINQ TOrMV. Name. l-'rom. TIuib I.uiilanU Uverpool. ..8 Sua. in. t'rello liahlu Name Vlrglnle IVseri Andjk . Uveriol . Uveruoul Idvtrpool Steamships to Arrive UUB TODAY, rrom Bordeaux ifn&a . Rotterdum ... Steamships to Leave ti.Soa, in. 'ate. aeci. is beiH. a .Sept. 0 Name FinUnd . ... Aiicona - Touraloe PatorU -- foUiam -kt Pul . Uasltanls. . lrederlck VII ( aarta . Ball.- , .. . rejl -. - Ze'"d .. ... r M ttcn . , iApiert-a, CasieroQla - For. Llvirpool Naple . .. Havre Maraellles , Rotterdam ... t.lveipool ..Uverpool .. .Copenhagen ...... Naples ., i Uverpool . ......rva lea I' erpool , ...llavro Maples . f afgovsr iwte. . Sept. 10 ..Mept. 10 bept. lu - Sret 21 . bept. 22 Sut. 23 Sept. 21 ..S,pt, 23 Seat "a .,,-Bept. a .....Sept 2d .... S't't 2i - 8pt l bept. 28 sent. : FUEIOIITS AND CHARTKIIS I'nder a moderate demand for tonnage the st.amshlp market tontlnuea straly. Rates are well sustained. STEAMSHIPS. Indian Transient tilr N- Tor to Go-, deauit, grain, .. CJ , 'JMtfpO quarter, onilon rart Bonerul cargu, ,ionipt. Mar.tlloorg (Pan.), Ilaltiiuore 10 VJercen cr 1 hrUtlanU, grain. 1S.U0 quarters, u.' piximpi. .....- nn , U. , llu limn.. .. ,'. ... IHrtu.tfc"" ....... .'n.,.'vv.n , i filll-tl .vuail II- ports, oaU. 0,000 auarters. St. 3.1 , prompt. HuttonnoO'l iltr ), ilulf 10 Marseilles, train So.CVi quarter. 3t. til., prompi, Antsres iNor.l. lto4 tuns, Ualllniora to Ha vana, coal private leims prompt Wetard Ho iBr). Sslii tons. New lork to Australia vlo Panama Canal, general carso private term.. October. Kent iRr . 334? tons, umf Trojan (Dr.), S3I3 tone, same, Oetol)cr-o-viiuber. Kasalla tBr ). aiBO tons. I'.onib.ty to Phllidel phla or Dalilmore. ore, prompt. Ascot (Ur ) STSd tons. Ne York to Medi terranean, senoral cargo, private terme prCvmPt p RARKS Ia- ua (B-.), S0 tone. Ra.ltlmore te Juiara Cubvcol, private terms. svnuutiBm Ul,w.ui.) for the -.aiim pcriotl of iat yep. NEW YORK SUTUR AND mm NIJW VtlRU. Sept, 1$ Ml'TTKIl Je-ceipts-, 4.V package.. I'reanwrjr i-tH4S. 31 to JR..; first. ;j tu SI: he'd .-kii-.iu en, v.i ,.-.-, T '"' -..T, .. - ...., f, . , o,,v4 uu 1 b'ivan.e'1 ,.- untie, hxili.i. . Vw' w .,- (IT.W ner mo Jo., s. , . 1- SlMkiyiiMO i.., il.. in ,i.- ... ..'.' "i11" Wllwh apvu'tt- uiIik'ii... .. i,o .... . I.nK-Cholie stock sold fairly and ruled tfjf' "".. 1"rU." " mto4ti oi BANK CLPATRNRi? "SltiTTum firm under moderate itfrtng. fuU Us i ffrt"v. k"r lof ' lucal irde7e to ia -Un-iNri gajgAmtj SIAIIBIl ise.; old routers. 11(11'.; .prlng iUU kens. '"' J- 4 wllow. Slftom ., ,t,n.tr m?- -Vl'-VV ViHllv. rj. pt W. -.'U.,r'iini fine, large. Uilse.: du.. mwllum Ue. ia , " "'jS.Wt-'- '" ihronsrh il... I.u ,. ..n. . . ..." 1C'.: duck., old. lMjllL'.; do., eprttn;. Wuj ' -.- Receipt,. 02.SSI bushel., jiarb,. !.,I"USr V. ' f ,t0raina lo l'" e- I5c.; gulneai,. per intlr, ouns vveighlns 2 IbT Pf "' hlgne- onh goadXiign iH," vl"' ""' k a'uourtfd v ,.&;,- and over npleee. 70.. : Jo.. ell,lnf 1 II, V "' "fie demand lls0 Xef s Sbli 2,-""' ag.tln-i ll.v'l iS6 l Ut vfu- and lt!;'.e,aPl:lufe5LW- tf-; "'SeU"' "'"'''l&W'1 "U"- '' ' ' 'l-'C'I'lOin )Vt "'-eJ " Both Gross and Net Show Marked De cline Compared With 1013. Aicord'us to statements filed with tin Interstate ("ommerre Commission cover tin,: opt'intiou tor Jilv hoth gross and ii" t earnings ot li6 lallioads fell off as 'o.ir.arrij with tho same month of thn previous year Tne l.trtest decrease as in gross, net being hetl up snuiewlint by u decrea pi operating cxpfii-cji. The average mlle 'e reporteil was l'!7.a9, compared with gll,H In July, tollows. 11(11 tlc-rea-e. Ciro.i ,.r if rii'ie. t;i,p..i ISO )lii.l'.M 111 Operat.un epenvei.. 17l.iTTilll 0.S09.II. Net . g;i.ii7i),r,l JM)7 flit LOCAL GRAIN EXPORTERS ASK INCORPORATION Shipnei Espert Better Business Be cause of Forojgji Demand. Slu,i.r-rs vv 1 o have louir lameTted th Inaemltv if local eru It enporte-s are now untn IpaUng bjttr Inihlnei. due p- in. elpall.v to Hit .'tri:B deouinj fur the prodii.-t Cioin f '''elin matters utnl t!m 4pp!l(.tir,it at Ilarrlcbiirg for the ii -t'urput ulion of a c.'W rt-m at porter. Th's n4 the iMflterment ot the inter nationiii rredlt ystmi tiie exoteil tn lini.'.iga the etportation of aratn ftom thi ir. Hhti- sevf.,-!! c,Yfvt ,i gtau. hu Utf till P4Mt t.L-eldl'. . Holtimore and JJonltvul ci'iitinue t do th bull; vt the Atltintit i 'lust buiiies to tha rret of h elilppt-ti Jifctt', wtta i 'aim the port is atfriUmUM wgtMiust in vnrlou was The V"1 turiuu'lit hsia chtirtere i He. I uf rsosfU I'm tie- t.augnu.utoti ui grijin to Ii-, .- i ... nu ( oi Ki.K i i-si-.wdnh'tl t Ifavi I'-'ltisnort. It was n pt)lb, lo ji't.'ii i iv tjuiitute gtlaii . tiun fog itui it l, . Hcr of the Cose - liresed licmaud fan and market ii- i on faiuy iu.lt, ofCvrlu; bslug IIk" 1'ieslt-kllled fovkla. uer ib., In t 1 ,w., . '' .' wr,MT,iiiia I'-j.j lib. splere. 2.i- vvelBhlog I lb apje. Su.,: vveljhliu y7 lb, apies-o tTti ISk -. aeistdutf t lbs. and under, a leee. 111.-.: old iosir d welglilugpU-ke.1 Itije.. bi.dll-ig . hi. biii. nearl. elgliliii I'tK-J lt. aplo. e. tufcljo. broiling . lilc'Kt-iis. m-a-b , uii t- g.u-l. lug IbV . fhtv-Lwis. Western. 3'jot lbs aiU"1 lti- . do. do., '.''sej': lbs iituc. IGjji"' broiling thickens. VVee'cin, l'Sj2 lb. gpicte I7CIV' . bndhni vlitokrns Wenlero fall lo S.id ljiulG... nqual'S. Ic dooii UHe. uelvblng 11 a IS Iba per duen. fk ISt .'0. white, weleldns B4lo It. i-ei .hi. -i'iJ.l 7'. while welgtlliigS lb iwr I .ii J.! !;-' ' do. ueiglilng I Its nei d in $1 '"'- uu weighing UVfi' lbs m ,i , , , $1 S .if 1 'n dark, an j jcu. , 6Cc n io. 5 VJ . ,1a a.nT,T :. r. "" . " lar. :.".4 0 .Tr ViXS,- '" "ffu.1' IVloier. it CH' VJ ihi t,u II.IIIK. c,teadtls h.i.i but ni., ,, In uuud FRESUFRl'ITS AMt'oa"1..1:2? t0 rblUileljUiU urat-s. tUe-iJulu""; ;:-?", . ,"?"' Foo P B-. cat. 1(W. I Arp'-i p- rv , ", -, - l-'se- UUICUJU LIVK STUCK 'l,U ''" ' 5 H.K.S Ro.j. at 'I0... TV"-1 h J" 1.I'1IW -h tl r,w"'-N. "" was so uic- xn.4. hi., SHERIFF SEIZES FACTORY I'niiure Attributed to Inability to CoJ, lect Outbtaudins Arcounts. wi st t-iiiisruii i-H.tw,., ltf. Wuiur Uuvid lorn-j luf levia upon Hu br plunt of the- IVnn Marble arul tlratiii" ;ou'W' ,",- Avwdtle. ,,,, adcr,u, to U th outfit at iibllv aie n-iH. proiwity levied upon coiialgu of Pnin,.d boilei. electrical materUl. ilerTkk tw ,cinvii.-3 uiisitiai aim arlules Tbii ii a. (urge n M 'il Jjiel'Lii The tm-w f.iiort, a thai htitu' li.i '. liKvipumioi-n I.. J-Kll tJ,Jlll It J. SJVatUlaO.1 1 ....ill VVjIti K ., , ,, U-rs of til. Cjtii.i y R i ;'l 'e1 1 -low i tti Companv- It V. ilii u VI HM,,4 -o- i't pgo.j (A illlani I . t. jje 1 1 1 rgoo.) ti d "'. .-I r nr-nt inro- ri ii Ugiimnje inaiij olh. i nduJtr'tl plgr I CHH.II 1 VI I'ldlrttilplltw p' . I H...KI f ill! ., 1 V I' I. r ,, Ui' li.. I half pre tent si lil.UMl.Mti !-V I! VII till Ml I1IM-.N Lei- IH IUI1 ii i.e .it . till ua' Cif Ivv't Hud one rrtr biV iii-il"! T . ..I., . . " 0S'J , T.bsr '"Musir'ti plant nti"t, Seuleiuber :. lull , , & .'St-?' nei.l.rrV, ir!' ,'.8?)I TJo S, " X? (i R l" o --ul'Je . .11 pee .e.it ". he'trrs. ( W. woekers a-i -le-s T ia.lc- fe?' l?e I""1 ct ' materia ,ln hei 1 ' " . "" . . . -'- ra- e V er-ro. J ,igOf u-'-- , " WP'-U rso-t b rHei ' u n . -. , VSi 11 il ; t