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EVENING LEDGK-PHlLAtoEfcPHiA, SATURDAY, SEPTEMBEE 19, 1914,
i I I I t i lil in. ill I I i i i i i.i . , i i i I I I ii I '
15
1NANCIAL AND COMMERCIAL SITUATION HOME AND ABROAD
Effi-BHD BRINGS
BETTER FEELING IN
FINANCIAL MARKET i
SEES BETTER OUTLOOK FOR
IRON AND STEEL TRADE
Expert Says Prices Have Already
Gone to Their Lowest Level.
is my firm conviction that It will
a loinr lime before we nenln see n
iv prices for Iron nnc! steel nroducts ns
I we nave seen since the first of the prcis
i ent year."
Investment Tl11 '" statement mndo In an Inter
view by Frank Dandies, vice nresldent '
H-tVMI A renin Snlirir am1 Re"Bl le assent of the Ametlcin '
OUSeS Will Again OOllClt strCi and Wlie Company.
v nwiim Bceni ii3 nays, Fume peuji; i
veW York
FEDERAL BUREAU
ANNOUNCES RATES
PHILADELPHIA MARKETS
CHAIN AND FLOUR
" vA'vrjpw "M" ri.OUit. Receipts, MOO bbls 1.S22.400 ths.'
. - -, ... I In ineks The market unlet, tint linn In s"nt
fl 117 A T FIAT TfilTJO lh "''i1' "heat out ver little demand.
UN WAR rOLIUlho ' SWittw. fw
va.i 111 mwuw fAclm. 20flsso, do pnfnt. Jute sack. , ro
PTiup, sprm. first elcn ffli's. do., atralifhl,
' . S.Vf.V.O, rtn , patent ?. i,ofil favorite
1 ml M noum Beem, no says, -some peopti
Nmtf Business and r hlla- looked for an Immediate boom In Affl?rl
eV JJUBUH.M cnn trj deelnrntlon o
til' Y211 PViilnvi Stiir w"" " nurope, but there came up fcveiftl
delphia Will I OllOW OUU. complications thit dclnvcd mutters
--- iu.iiwi;,utiiv linn D5, in, iiunc.ci.
with the end of the week comes a moro
Ln,rl disposition -n financial circles to
rrd the situation as exceedingly favor-
'able. Ments 01 me ii " -
.... ,.: to clear away the clouded
Gone "."'-
ItnwM'he'fi nn" ro"'""
of an eariy return
It Is sradual but persistent and wo shall
continue to ree good tesults coming from
It from now on."
Blve more
U nnvmal
tromlse of an eariy revum .....-.
than at any time slnco the great
European struggle began.
has Been particularly ntuu
confidence, and the better
London
In Installing
teellnK there, influenced largely by report
V1 "?,.... ..t vninrloa for the Ilrltlsh and
French armies, has been reflected strongly
.he markets In this country. Broker
-" ". . ii. -,- t in taMiint nr nn
nrly reopening of the Stock Exchange
here, so marked has been the general
Sprotcnient. Tho exchanges i In Sidney
S5 Adelaide will reopen for business on
,3U y ...i it..., to n rlmiitn Mint thr
IIILI 1 ...... .-.-
BANKS MUST STOP
HOARDING .MONEY,
M'ADOO INSISTS
ifsmlM nllU
illbourne Stock
Exchange will follow
"""'.... -,.. In II, l.ol
Wt seme time iuki ." ....
i'ul.. ii.a fnri, irti nvrhnntrn ninr.
coiwpse m "L.. "V-Ti.. : .hi .;::i
tit has rieipea miuci .;' " '" ....
djustment It touched a loner price
Jrel jesterday than at any time In sK
Iffks the principal Inlluence being the
ncceMful settlement of a great part of
All country's foreign Indebtedness This
helped along very materially through
ft, flotation of the New York City $100.
r,m v,nri nnrl enrnornte note Issue
Ihleh It was announced today, had been
T,.rBubscrlbcd The break In exchange
frlltates a return to more normal contil
ruis In our trade relations with Euiope,
..neclnlly Great Britain Exports have
tn growing tn a remarkable extent.
Demand Sterling was firm today and
litis recovered some of esterday s de
?l". ruling strong at l.M'i to i 964.
Thire waVi a fairly brisk demand, even
it the higher rates.
wit i. nnit'.Mi: uo.vd sam:s
The Philadelphia Stock Exchange Com
mittee of Ilvi ann me iomniuiee un
iviitti Scr-urltlea have agreed on a plan
for the broadening of local bond trndlng
b which bond houses will be permitted
to solicit business.
An announcement to this effect will be
made at the Stock Exchange on Mon
tiy, and the Bond Comtnlttro will nlso
..,.1 mil n letter on the 'subject. The
dan has the sanction of tho Clearing
House, and similar action has been taken
in New York.
Restrlctloni on trading will be relaxed
1,1 as to allow the sending out of bond
Secretary Treatens to Recall
Emergency Currency From
Bankers Who Deny Loans
for Legitimate Commercial
Needs.
WASHINGTON, Sept. lD.-Drastlc ac
tion against bankers who are hoarding
money, denying loans for legitimate pur
poses to commercial boirowers while their
vaults bulge with "wnr emergency" and
other currency, Is being considered by
Secretary of the Treasury McAdoo.
Tbr Secretarv and members of the Fed
eral Bcsene Board admitted tndoy that
numerous complaints against bankers are
being received, Hecnll frmn unending
banks by the Treasury of currency Issued
for the wnr emergency under the Aldrlch
Vreeland act unless the hoarding ceases
! was being seriously considered today, It
was reported.
State banks, which cannot be reached
by the Federal officials, are also offend
ing bv hoarding their money. It was stated
toaay.
NoiRisksWillBeTakcnon
Cargoes to Ports in North,
Black, Baltic or Adtiatic
Seas or the Bosphorus.
Exporters In this city received today
from Washington the schedule of rates
fixed by the Federal War Itlsk Bureau
covering Insurance on cargoes destined
for foreign shipment. On all shipments
between ports of the L'nlted States and
Its possessions or nny nonbelligerent
country In the Western Hemisphere
would be A per cent.; to nonbelligerent
ports not north of Havre or oaBt of
Sicily, 1 per cent.i to nil other ports, 1'4
per cent On vessels between L'nlted
States ports or Its possessions or non
belllgerents In Western Hemisphere, t4
per cent.; to nonbelligerent ports not
north of Havre or cast or Sicily, 4 per
cent.; other ports, 1 per cent.
Tlmo policies will be Issued for M
dnvs only at a 2 per cent, rate or In
special cases S per cent. The rntcs nre
all subject to change without notice.
The bureau also announced that no
Insurance will be granted to vessels
bound for ports on the North Sen, be-
M S.tw.ViO, rtn . patent ('. iiOtfil favorite
hrnnils. Sll B.Yflll 71. rIM mllH. rlinlie nnil
innry pmrm, inzmiiii, no, romiinr granes
n intrr, rinar M.i.if.,,
ao . rnicni, . -ijiiii
do.. Mrnlclit. .. SO:
,1 fr ,njn . , Ml'irt.., u'yu,, HrmuuiK in..
itVK l'l.ntm.a.ii.!. w nr, i r '?.""? .'. '"r,ri' :
fi.v.-m tiM. i,hi i .T " ' . "". '"' 'inner "Pir.. I'-e- oin-
r--. -' u. hIAlfirl
PROVISIONS
ro.)Vters, i 1012c. , spring rhlcken. flne, Inree,
lTl?! iliJ, medium le. 'fiWKio . ducks,
old. 111? He i do, spring, Mtfl.V.; RUlnoas, pir
pair, loung welgliliig 2 lli and oter nplere,
"Oc . do., neighing l'rrl lbs. apiece, 00i(ttt
doi MelglllnK I Ih. Hplrce, fOc . old, .'0' 1
pleenn. per pilr. lSwlRe
ItttRSSKK. The market firm nn desirable
sioeki with ilemainl eipml to the limited ofTer
Iiirs. rresh-kllleil fnnl. per lb, selected
heavy, 21'Sc fanr welnhlnn 4(ji?S lhs.
apiece, 20Ue.i weighing 4 Ih. nple-e, 20e i
nnter. dn
ehleVeni, nearby,
l.lHe , hrolllng
Mnrset O'llft but steadc rity heef. In seta,
smoke,! and alr-ctrlert. .tltfl2c , IVeHern lieef
In set, smoked. ai!12e . elt beef, knuckles
ami tenders, smoked and alr-rtrletl. I2ftat .
Western beef, knuckles and tenders, smokd, .12
ff.Ttc. heef hams, f40a4'i, pork family (Wild
2f. Hams. p. p. cured, leose. lAHQIflUc . dn
skinned, loose, IfsHtfld; fio , do . smoked. lffl
lite ; other hams, smoked, city cured, as to
hrand and at erase. 1fiinc , hanie, mnke.i.
Western cured, liSIOc, , do, boiled, b.ine
leis, 2S52nc.i picnic shoulders, H. I' rure.l,
loose, UfflflUe. , do., smoked, HffN'te i
bellies, In rlekle, according lo .neraie. loosn.
lrilRc. ; breakfast bacon, ns to brand and
average, city cured. 22U2IC. . breakfast
bacon. Western cured. 22fr24c. lard, Western
refined, tierces, IliMMPir.: do., do., do
tutu, limmiir. lard pure cll, keflle
rendered. In tierces, llViwt2c, lard, pure
cits , kettle rendered, In tubs, ll'ifjllc.
SUGAR
Market nuitt at eiuotatlons. Standard cran
ulated, 7.30c.. dne granulated. 7 2."ic. powder
ed, T.1.V . ronfectloncrs' A, 7.1,1c , soft grades.
(U.lffT.OSo.
DAIRY PRODUCTS
., nt'TTEH Receipts of desirable stock
llRlit and prlres sternly, but trade unlet West
em freh, solid-packed, crenmerj, fancy spe
cials, ate., eitra, .121!., extra firsts, .lie., firsts.
2P'4fnni(,e , seconds, 27li21'&r. ladlD paik
ed. 21fr2nc. ns to ipialllv. nearby prln's,
rrncy, .vie do. nverage extra nitrlle . dn ,
firsts, .loinsc , do . seconds. 27W2IIC. Sperlal
farov brands nf prints Jobbing at HWtte
. KdflS Demand eouat to the limited offer
ings nf One fresh stork, lirlces of hli h stead
ily held In fice. cases nearM extras. :ilr.
tween the latitudes of Chrlstlansnnd nnd I fel '.'oz nearby firsts. $s 40 per standard ease
ut-ti,, viiticiik re. riinn, i.,"ifii nn per siHnn
ard case. Western extra firsts $s 40 per case
Amsterdam, on tho Kattegat or Baltic
Sea or adjacent waters, to ports on the
Adriatic or Black Sens or on the Bos
phorus, without special application and
rates.
Because of the exceptional hazards In
volved, the Federal bureau will consider
these special ports only when applica
tion Is made to It nnd It reserves tho
right to decline nny risks to these ports,
or, If accepted, to name such rates as
may seem in Its Judgment adequate.
DEFICIT OF NEW YORK
BANKS LARGER THIS WEEK
Loans,
Deposits
Hesorve nnd Net
Show Advances.
Increases were made In all Items with
th exception of three In this week's
Wblle millions of dollnts of emergency 1 statement of the members of the New
nave lieen poured out to the orn Clearing Mouse Association. I-onns
currency
nanks, manufacturers and merchants are
being turned down when loans are. re
quested nnd Interest charges boosted, ac
cording tn complilnts reaching the treas
ury. Jinny batiks are also snld to be de
clining to extend mntuilng paper.
Hoarding always occurs In times of dis
tress, but with the treasury dealing out
cunency with a free hand theie Is no
necessity for such action now. In the
advanced J67.2S8.nO0, net deposits Increased
$(i1,ril2,000 and the tlcnVIt incn--noJ 3,-
1 319.100.
' The following table gives the average
condition of tho members this und last
! week:
Now
lialebmen. Issuance of circulars and other reserve board
ilvertlslng, and solicitation 01 ousincaa
on the basis of prices approved by the
committees, sales to he only of bonds
held by the firms offering them, and
only on a cash basis
Annoiirtcemcnt that New York Invest
ment bankers had decided to again put
through sales on a large scale and thnt
PhlladelDhla firms would follow suit next
week gave added strength to the situa
tion A committee will meet In New
York dally to pass on all snles and their
restrictions will be stretched so as to per
mit transfers at lower prices, It neces
sary than tnose wnicn ruiea wnen me
Exchange closed duly 30.
This Indicates very clearly a llnal re
turn fb'niore normal conditions, since for
iweeks the brokers have been testrlcted
la sales to the last official Exchange
price There Is a possibility that a simi
lar ruling will be made here At any
rate, brokers and bond salesmen ate
brushing the accumulated dust from their
desks and chairs and are getting in shape
for a more active trading nil of which
forecasts the return of a brighter situa
tion
Tho N'en York Committee of Seven,
after continued conference with the
Clearing House Committee and the Stock
Exxhanee Committee of Five, makes the
fo'lonlng announcement:
with the concurrence of the said com
mittees, it Is the understanding that
jthalers In bonds should be directly gov
erned hv the following rules:
The sale of unlisted bonds owned bv
tre dealer It Is thought thnt dealers
sHnuld be free to sell such bonds to In
vestors.
"The sale of unlisted bonds nnl nwneri
ty the dealer, all such proposed trader
should be laid before tho Commlttep of
Seven
The ae nf listed bonds: all such nro-
pesed trades should be laid before the
.Stick Exchange fommlttee of Five."
It Is the ffenernl nvneelntlnn thnl nl
the rate of progriss belnj; made In clenr-
n-. the trade of onen cnntr.iets tenulrln
International adjustment, the cotton ex
panses of the country are likely to be
open for businea intlde of the next two
r three weeks
l.nans
Pperle . . .
t-m.il tenders
1 Net derost3
Onlnlnn nf Sneretn,-,. VtVJn 1 .1.- I ' UCUMUOn
' ....... .... j ..wuuw, ,iiiu nit,, i nnut'
Sept l'l. Sept. 12.
,$j.atn,v.2rrn U.iuii 4.0.10
7i,ari,irin i-o.sis ooti
Hot ween October 15 and November 1
the leserve board plahs to have the .new
currency system In operation, nnd mem
bei believe present hoarding will then
cease.
the fjoi.D root. I'UAN
J B ForCHTl fit Phlpjnn. a 11 um
tn and Benjamin Strong. Jr.. nf New
lor't. ind Levi I. nne r,f ni.iinaini.in
'(preifntinc the mmmiiiu, ,,,i.,..,.i 1,,'.
j e conference of bankers called by the
.'Wral Heserve Board on September t to
corsider the foreign exchange situation,
JMerdai confeued with the hoard In
' rtner consideration of their proposed
van to 1 reile a i,nM r,,.,.i ... i, .1..
his , o".m tun., iu rritcvc lite
wernatlnnal exchange situation. The
wrniittee originally recommended that a
'W fund -if ,lSO.Ono,000 be created hv nnn.
S' Iw the banks of the country
.-.. ,u reserve
MORE DIVIDENDS PASSED
l'nlted fins and Eloctilc Coiporatlon
has passed the dividend on Its first pre
ferred stock because of the disturbance
of financial conditions It Is i-nld, how
ever, that the dividend hns been fullv
earned. The dividend usuallv declmed
at this time Is 1 per cent, semlnnnunlh.
Galveston Wharf Company. In which
the city of Gnlvestnn, Tex., hns iGoO.Cft)
stock, has passed It" dividend.
cish In vtts.
Tr los' cash In vlts
.vsreffnte cash res.
Tr ens- res. with
trem
Deficit.
s.21 UUP
l.nsi.'jjn.nro
12n.71H.nOn
.1(2 n7.fo
iin.ipn.roii
40S7II7.MO.)
IO-.-iOLOOO
:is,:i4,liio
7il..iS1r(ti
1,12(1,214.1011
124..11ll,HO'P
wi.iiin (iflo
(iS.777.OiKl
'!7 I2l.iis
S1.12P01O
.I.I.IHW.HOil
do., firsts. $7..V)07 10 per case, do., seconds,
!il.iKlfli no per case randled and recrated
fresh eRfts were lobbed out at .IHfTfc. iicr
dos ns .0 rjualltv
t CHr.KSn. Offerings light and market firm
hu' tram, ipuct .Sew V iK full ucii. I .
IfJi iWlRVc do., do fair tn Rood, lriijfilOc ,
do., part skims, Iifll4c,
POULTRY
LIVE. Choice stock firm, but
poiuiry ami nnd wean low is
nrdlnnrv
17?i l"e , old
welehlnir 1a lbs. nide'e liifl2iie , do., fair.
to (rood. liWlte , ihleken Western, I'4Ht4
lbs. apiece, llic , do do 2UW lb. apiece, In
ifM7c . broiling ihltken", VAretern, weighing
it2 lbs. apiece 17'rtf.r . ,p, fair to rho I
ilWlflc,! soiiabs, per dor. white, nelKhlne 11
t?12 lbs. per do? , 1 1 111? I .111 white. weUhlng
liniO lbs., per Am, 1t71 7.1 white weighing
S lbs , per do?., (2.2.11,2 Vi d . . do . 7 lbs pi r
do, (f.7,1'32, do do., rftt'i i,s p,-r do?.,
(1.2SffI.uO; dark nnd No 2. CV.1?I.l0.
FRESH J'-ItUITS
Market quiet and without Important change.
Appies, per nni. uraxenstein s-' tv 1
Plush. (2.fiO'!?.1 nthir piod eitinis arleiles
2,"oa.1, medium, l""?J2Wi, npples Hli-,-ware,
per hamper. IlifliOr Unn n per box
I HW4. I'lneipples. per ernlc Porto Itlco. (1 2'Bi
1 '1.2.1. Florida, (l?2r.0 rrnnberrles. Cape I od.
I Knrly lllack, per bhl , (4 '.Of?.,, rrnnberrles
Cape Cod. Han filar k, per erate $1 "Iff J
Cranberries, ,Iepey. per crate Dark, (1.7"i
2 2.1. Hunt. Ilffl 2,1 Ilinkleberrles. per qt..
491c. reaches, Va.. per 20-lb. basket, 211 TV
do, do, per crate. Tie W(l..Kt: do.. Helawnro
and Atari laud, tier basket 2Ti?71e. do dn
per crate. 7riCW(l 2.1, Pe.tehes 1'ennsvlvnnla
pej liisket ttrge while or vellow iT?M)a ,
medium, .Iftf.Vie peaehes. Jersey, white, per
H-basket. tCtclltt do. do. lellnn, per
basket 40cif?l. Pears, nenrbv, ner bhl Itart
lett. No. 1, (.igrj do, No 2, (2.71'i?.'l 21
C'lnpp's Favorite, No. 1, $.1 .VKiri. do . No. 2.
(2.7.1f)1 2.1 other varieties, (2fl't pears New
York Serkel. per bid (P3.1. fJrapes, Houthern
Delaware, per carrier. 40f?n."r , Krnpes. Con
cord, per crate, lOflbOr Plums, per N-lh
ba'ket 202".c. Cantilnupes. Colorado per
crate, (lfll 21: do., do, flats, togoSc. Water
melons, Jersey, per loo, (1315
VEGETABLES
Potatoes quiet hut tead). Other vegetables
showed little change Penna. choice, 7.W75C. .
do., fair to, good, Mgnie . white potatoes,
Jersey, per basket. 40J?4rie. sweet potatoes,
Eastern Shore, pr bhl. No. 1. $1 7r.'d2.1.1, No
2. 7.1c 0(1: sweet potatoes, N C, per bhl
No. 1, Jt 7.1t?2, No. 2 7.1c fid. sweets. Jer
sey p-r bhl. No 1, J2.'fl'!?.'.71 No. 2, II BOW
t.7.1. sweets, Jersej. per basket, 40fj "Or.
Onions, Western and Conneet"iit Vallev
choice, per lno-lb. bag, (1 101 20 onions, me
dium, per lno-lb. bnrt, (1. Cabbage, domestic,
per ton. (IHtll. Celerv, N V per bun -h l'l
E?."Oc, Mushrooms, per 4-lb basket, 10c tl
Jl 00.
MUNICIPAL BONDS
BANK CLEARINGS
.2rfiH,.CI".ar1",". '"J" lominreil ulth corre
sponding das last two enrs
nnil."i''lphl'1 OfvCS! -'T.in".140 (2lll24,72lt
...- ,..., .,, ,,, ,-, -.,, (M, ... ., .,u -c- -,.
lork 111,181.70.1 mi nrj.ooo ".......
HILL URGES PRUDENCE l
ST. PAUL. Sept 15 -James J. Hill,
when asked by a repiesentntlve of the
New Tork News Bureau as to effect of
European war on general business, con- ,
ditlnti!-. answered that ne was not a
prophet or son of a prophet, hut he od- 1
vised people to be "prudent nnd careful.
and not to bite off more than they can
chew."
Chester Issue Taken Here More Of
ferings to be Made.
An Issue of $71,000 paving bonds by Ches
ter. Pa , was awarded to K. J. Coleman,
Philadelphia, at p.ir nnd Inteiest
Bids will bo rooolved until Siptember U
by the Jliirgtss of Hancock, Washington
Countv, Md., for JlO.fOO ,1 per tent water
bonds
Lecohburg. Armstrong Countv, Pa., will
not offer $'"00 school bonds until June,
101.
Bids will be received until September 23
by Phlllipsburg, N. J., for (13,000 1! year
Is.
An nrdlnnnce. calling for a vote 1 n a
$l,."vifi0 bond Issue, was Introduced In
the Beading, Pn Council. The loan will
be voted on at the general election, to be
held November 3, and, If approved by the
voters, the money Is to be used r,, the
following items: New cltv hall SIWO',
storage reservoir. (W), land for paths
and boulevards, 20,000, Improved street
paving, $250,000.
titles
and central reserve
C ,i :i 'cm'ie-'"s ?-
eMlmi . ""'""' us maturing
MmftV. ns and or ,he necessary gold
"mitUnces to Europe relieved one phase
to fi.'.u 4a,lon an'1 male '- desltable
..mI , '-ci uie auujeci ana ue-
temine what further relief. If any. was
pECREASE IN BANK CLEATtTNns
Ithat n, Fu 'a Newa Bureau Points out
Fnlteri q,th.e "ven ,arge cl-les In the
khoiVd . te8, only one- 'e"- Orleans.
korrelrlnnd. ,ncrea?e this week .-ver the
corresponding week last ear In the mat-
feous. S.lha1BM through the clearing
-- .HUUUn IT.WW a.
--D.. VUttUI, IIIUI
ement In the
normal because
K i.b!l,Ji "'"LV"? banMne bU("
I condition. . "ormat because of war
Cenof3an'ence'n,that Clty Were a"
.V'''"";. 0f de"a-e In clear-
--" the imail. Vkr,cl,r' M P nt ;
" nt smallest in nii av..
FAILURES THIS WEEK
Vetted Stat.. a,lur this week In the
Co a?!";," "Ported by R G. Dun
iM- the oree.dio a-!a,nt "8 last week,
Pondin""!'"8 ,-- and 252 the cor
cMaRmWhe.V' !ast 'ea--' Failures In
,8 .h.S?' - last week.
?ar oV;:r1-", " and twenty last
THE COTTON SITUATION
Statistical position of cotton, ns mnde up
by Financial I hronlele follows
,-. ,., . 'nl, "e'k l-astweek LastYear
llslble supply. 2,7tin,77l 2,770 040 2.S3IM70
American 1..11.1 774 1. Irtg.Olil 1421170
In sl'ht Sep. IS 11.11,117(1 474,S0.1 l.lifl.104
FINANCIAL N0TES
Philadelphia banks have taken out
$127,20 emergency cunency from the Sub
tieasury In this city, making $9,CJ2,lO0 Is
sued thus far.
Out of a total of 21 hlast furnaces in
Eastern and Central Pennsylvania only
nine nro In hlast.
Hanks gained fiom the Stibtie.tstiry yes
terday $12,IW.
A reduction of 2 per cent. In the civil
engineering force has been ordered hy
tho Now York, New Haven nnd Hartford
Railroad.
In the matter of a proposed Increase of
15 per cent In freight rates, the nnif.
Colorado nnd Santa Te will start a force
of expert accountants at work preparing
data to be submitted to the Texas Rail
road Commission at the public hearings to
be held In Austin, beginning November 29.
Government reports give the condition
of sugar beets on September 1 as 92 5 per
cent, of normal, foiecastlng a yield per
item ui uuuiu i'-i-i pur cent.
International Steam Pump Company re
celvers have been mthorlzed to Issue re
celvers' certificates for $5fo,(Xi0 at present
They are permitted to Issue $1,250,000 later!
If It Is necessary.
Hoard of Public I'tlllty Commissioners
of New Jersey approved the application
of the Atlantic City Electric Company
and the Ocean City Electric Light Com
pany for the purchase of the Intter by
the former at $272 063. The Atlantic City
Electric Company was authorized to Issue
$70,200 preferred stock and $21S,fX0 bonds.
Rankers In charge of the sndicate
which underwrote New Yotk cit's $100,.
000 000 loan have announced the over
subscription of the bonds and notes, al
though definite figures were not et
available It Is believed 20 per cent of
the Issue has been taken by foreign
holders of maturing notes.
DIVIDENDS DECLARED
Phlladelphli Company, regular quarter! 11,
per cent on eommon payable Noiembe- 2 In
scrip, tn stock of record October 1. Pcrlp Is
redeemable at option of th lompanv on or
he'ore Miv 1, 101R, and will heir Interest until
date of redemption at rate of 0 per cent p-u -able
semiannual!. Company nlso declared
regular semiannual .1 per cent on rriferr.d
payable In cash No ember 2 to stock of rec
ord October 1.
Ashland Coal nnd Iron, ouarterlv 1 ner rent
pavnble fentemher 21 This Is the first divi
dend since Deeeoiber 2.1, 1111, when 1 rer
cent, was declared.
Veiv Ynr'c Flats Railways regular quarter!
of li4 per rent, on the preferred and a quar
terly of 1 per cent, on the common, both jn
ab!e October 1 to stocl: of record Septemter
22 This Is a reduction of '5 of 1 per cent,
from the last quarterly payment on the com
mon. Tobaccn Products Corporation, resrular quar
terly Is per cent on preferred ravahle Oc
tober 1 to stock nf record September 2t.
fioulds Manufacturing Cnmpam reculnr
quarterly 1'$ rer cent, on common and 1 per
cent, on preferred, payable October 1 to slock
of record September 10.
Sharon Steel Hoop recular quarterly 1 per
cent , panblo October t
RAILROADS SHOW A
CONTINUED FALLING
OFF IN EARNINGS
Income Reduced More Than
$6,000,000 in First Week ,
of September Cotton i
Roads Hard Hit By
Slump. 1
With few exceptions, gioss earnings of 1
the rnllrpads In the rutted Ft.itea for the
first week of September continual to show
decreases compaied with the same period
Inst jenr. Moderate Improvement Is
shown by some rend', but tho loading
systems of the country nio genetnlly
below theit last ear's figures. The full
ing oft (luting the first week of Septem
ber was $ii,4!)l,l31, or 5.7 per cent.
The roads showing Imptov. ment ure the
Chicago. Imlliinapnlls and Louisville,
.Minneapolis and St Louis, Uenvei nnd
Rio Grande, Western Pacific, and Mobile
and Ohio. Tlie unusunllv light mnvrinent
of cotton, which Is geneiall n gteut fac
tor In the fi eight business of the rail
roads of the South, has adversolv affected
the earnings of the cotton mads.
To this can be attributed, in ,1 laign
measure, the smaller turning- of tli.'
Louisville nnd Nashville. Cincinnati, N.-w
Orleans and Texas, Southern and some
other lntger systems. Losses in the H'ps:
and Southwest are not as latgu as form
erly. In some Instances, and Indications nie
for Improvement, notably In Colorado and
Southern. Missouri Pacific, and Missouri,
Kansas and Texas.
The following table give the gross earn
ings of all railroads In the l'nlted States
reporting to Duns Review for the tirst
week of September, nnd the loss ns com
pared with the earnings of the same rnadi
for the corresponding period a 5 ear nso.
also the roads that reported fot tho same
In tho preceding months, tngpther
percentages of loss cotnrared
itn.u, ii.stvtij roii vi,i
West rhllnilclphln
New Stone Houses
no belne completed in beautiful Over
brook Section.
tteen
1 ft CM
NASSAU ROAD K
(First street north of Jefferson St 1
Something ENTIRELY DIFFERENT
These houen are nil stone nf the semi
suburban tsp". Houses nre 21 feet from
built on lots 3.1 feet wld supplli d ulth
central pltint heat These houses h.m
eterj conceivable conveniens that Is pos
sible to equip the modern house of today,
Iniludlng marble stumer baths, etc
W. Percival Johnson
BUILDER, on Premises
or 10:111 Ltiuxasler Avenue.
These houses ma, be rem tied either via
Lleated pissing north up iloth street,
ilterlironk (Bra on Arch street or P. It. It.,
Etilm: nn ut oerbronk Station
$300 CASH and .MONTHLY PAY
MENTS of $2.1
(of tthlch $.1 redutes n set ond mortB.icei
will secure n neu pnrch-fri nt residence
containing X room" "team h .it Hun n
hall, etc. I'lirther particulars upon request
POTTS & TOYVNSENI)
l!IO."i H.iltimorp Ave.
EVERYTHING FOR SALE OR RENT
THE CHESTER AVE, SECTION
STOrtHS AI'AIITMKNTS HOfSHS
It It Is not lonvenlent t" 1.1II durlntr the
dny, run out nnd see me ot nlirht .11 offko
and home 11-e under the same roof.
DONALD V. REDDING
52d and Chester Ave,
(iftieml
week
with the
with last year:
CHICAGO LIVE STOCK
CHlcAnn sept in - linos - neoelpts.
,V)O0 markets slou to stead mixed and
butchers. Konn 41 enod hea S1 ISrftfl 40;
rough heavt s 2VSTS ej., UsM $ 71fili 41,
Plus. SSflifissi bulk 4'.nn2i cattle
Hecelpts. KM markets stead- beeves 7 40
fill cows and heifers. $410 7.1 Blockers and
feeders tn totjs .n Texans 7VHjRnn calves,
110.,OS12 21. BHRRP Itecelpl 7VO mar
kets vrak native and Western, $11110 10,
lambs, ,(?R s1
i,lr Of fiiu,.I . ana lwnty last
?tt x "", ' In the Vnlted
; at
npl,
arain.. . . "
m..-:: " 't week.
u..:" " er in k. c '.
"vvtan. .-- " ., iw ooutn.
. w?t.-5 ruwuS1:. r?u."' ;?
100 South.
tfiftAa ai4
Uabiuues of $jooo or more.
?'! fall,.;. eek' L!lbItles of com
fcn. Jv ures reported thn. e. -
'-tVeir r "".. asalnst $7.1U,r03 .
G. Franklin Davis Co.
Collings and Richey Aves.
West Collingswdod, N, J.
Phila. Office, 240 S. 3d Street
Collingswood, N. J.
1 orner lot ood location for butlnese.
Values Increasing
Fins lot facing the Knight Park
to room dwelling all conveniences, facing
the Knight Park J42SO
Pargeln2'4 -story brick delllng. $2050,
$210 cash balance may remain on mort
gage, payable a rent
CANADA IJUYS WHEAT
The European war has caused an enor
mous Increase In Chicago wheat exports
to Canada by way of the Great Lakes.
According to figures complied bv R C
McCreary. head of the Marine Depart
ment In the Customs Office, twice as
much wheat as usual was exported In
July and August a
RIDLEY PARK"
On Rldle Avenue, al the lake new bunga
low living dining, model kitchen, I bet
rooms and bath room for 2 rooms in seconl
stnr hot-tater heat Iqundrv hard 10.1 fin
ish, front and stde porches lot 30x11-1 old
shade, mke view prb e $1200, only onn left
terms to suit nlll meet train nr trnlle with
auto b appointment Filbert 4102 W.
E. L. MOORE
917 South 15th Street, Phila.
Sept..
Aug.,
Jul3,
1 w eek .
1 eek .
1 w eek .
1014
$0.401.1.10
.i.ss7,or.
0.57.1.1.11
Loss $.1IU rt I
I-oss 214 1l
Loss 2, 1 Jl
Per
Cenl
I 0
0 0
A NEW OPERATION
'
loughrankhouses
It'ST LIKE Tilt: 111 THAT VB HL'II.T
AND SOLD LAST LAR
See Sample Houses
4832 North Fifth Street
Price $4000
ALSO
516 Eleanor St. Price $3200
These hnte port h fronts ill modern 1m
prntements bi-einent laundry, eleetrli
light Htilli with the stability that has
mide the I.oiiRhrnn house a standard of
K00.I tonstruninn See
JOHN LOUGHRAN'S SONS
5TH ST., BELOW ROCKLAND ST.
.rIITMKNTM
Net earnings of the Chicago Notth
western Railway decreased $111,211 in the I
y-sr ending June 30, 1911, when compared
with the same period of the previous
year, according to thp annual report Just
Issued. The net earnings for the tear
were 521.271,509. Tho total operating ex
penses for the year were $51,10.1,141 Of
this amount J12.179.fiS1 was for charges
pertaining to the maintenance of dy
and structures.
BAR SILVER
Commercial bar sliver Is being uuoteil
In Now York today at 51H cents In Lon
don bar silver was down '41 to 219-lfld
IPthe center
jy for complete1 Information vB
APARTMENTS
PALIMER & HIRST
Apartment
AI'.VUTME.NrS
t jvpurimeni -ipeciitiisis a
JSg. Phone Walnut 14S
Real Estate Trust VJk?
WILL EXCHANGE CLEAR
for other property.
Farm
DwelltnE
iiarage site to.ooo sq
lioKii i.veiiin
clear or mortgaged
f
ft.
vxi
3100
40IO
own
rami near station in Aon
ftiihore Bus Block 11 ro,l
city Lots 24 kl
Seashore Ground to r,no
Suburban Opetatlon 40 000
Delaware Co dround ISOftiO
JAMES H. DUGAN 7snSTUT
BUV A NEW HOME IN
LANSDALE
SOLVE THE COST OF LI LVO PROBLEM
BTft) POPULATION
42 MINI TE.S. FROM REAPINri TERMINAL
15c COMMUTATION FARE
NEW TWIN BRICK HOUSES. ALL CONVE
NIENCES. $3i00 TO $3V) TERMS
SUIT
1 Bt.-nu ruK rJEac-RipTiVE CIRCULAR
WM B. ANDREWS J. C. SWARTLEV
13 S. 3d St , PhUi. Mala St.. Lansdale. Pa.
Housekeeping Apartments
BACHELOR SUITES KITCHENETTE SUITES
FIREPROOF BUILDINGS
Corner 18th and Walnut Sts.
Corner 15th and Pine Sts.
Corner Juniper and Spruce Sis.
Also Haverford, at Station -
McILVAIN & CO., 1518 LAND TITLE BLDG.
Uusaj.
i$'5SMx-s-wii$ x v
w,
ftoime!mrt
1012 Spruce Street
ONE AND TWO ROOM APARTMENTS
I Well-appointed dining rooms with separate tables for each family-
"Meals that please"
1 he comforts of a luxurious home combined wjjh the semce and freedom
of an apartment h ii--
TeUpkono Connection , 2 ! . Referat,,., .,..
Itl'AL BSTATI3 FOR AI.B
West rhllaiielnntn
nnAi
RSfATti FOIl rA.M
, et JpillAdr1phlir
New Homes Nearest CentrQjf ,City,
Spring Garden and 41st Streets t
3b 1 1 1 XM 11 1'pp
tr i, i .iimi-iiiin. jb ' n . '"'"""' SSVUKUfSiVWJ'.Wt 'S
Wmt&BPYZ&&&&P73ZZlZ-Z3rnM W St- .- i.W S"f"J'4 FI
fa'; WwiiPvc w'W&iX if""!
v in z,-j,y. t (,jWS. i
vm.xka m
uWmmimh
j-,.. SSSvSs!KtilKAJS!!tSS8fCS
mSwK8fsms&
'vim Hi
,. i m ene;
' .
Mi I
lillfiirflfil
SfWSWI
,-'iri, Tr-1. :. ' '. ' '
-.aPT:?ft3s .
, i-r.rr;r, fc Js, . ,
'?,&'
MB.
ttlHrilttiliftf
'-
mitmaamx&v
MAGNIFICENT TWO-STORY HOUSES
with 8 rooms; lartre terrace"!; electric and prts liRhtitig; hot-water heat;
parquetry floors; basement laundries, etc.
Prices $2950 to $3750
TERMS TO SUIT
You CanPayMore, But Why?
EDWARD F. GORMAN
BUILDER AND OWNER
on Premises,
SAMPLE HOUSE OPEN DAILY AND SUNDAY ALSO EVENINGS
These properties ran lie reicbed by Haverford suhwav nnd Lombard and South
streets cars All car lines running on Lancaster avenue, Including Ann street cars.
pass list Just north nf the properties.
Orerbrnok
OrerbrooU
A "NAPOLEONIC SUCCESS"
Is the Verdict of the Army of Home Buyers Who Have
Been Advancing and Besieging
J HOMES
Price $3700 62d S-- North of Lansdowne Ave.
Only S Left Surrender in Time
JOHN N. McGARVEY
Builder and Owner, on Premises
Any cat" crossing 60th sfrcct or Ovcrbroolc car
direct to operation for one fare.
ivill
pass you
(iermnntnvvn
(ermnntnim
Choice Properties
West Side Detached
$12,500
.-.tone an 1 hrkk , onstrm turn , hlch eleva
tion, one block to Tenia. It It : IS rooms;
modern and attractive Int. rlur Lot 09 bj
ItiO feet deep Old shade This Is one of
the cnol huvs this fnll
Various Prices
Detached Stone
.West Side
Tele mom. .1 baths, hnt-nnter hat,
electric Ilgh , larire rooms Southwestern
exposure i.araco. Convenient to renna
It. n and trolley Must bo sold before
October 1st
Emlen Below Upsal
Street
$6850
$6850
$6850
$6850
Two-Story Modern
Homes, $3700
Three - story stone seml-de- I.nT.s . s HY 0(1 FEET
taiheil dnelllnes. containing 11 Ot.ONTZ AMI CHKLTEN AVKS.
rooms. Including ! baths Ue-1 Seen roomn. Ljielmtini. hath hn ,t9
turhed porches. Lota .12 ft heot. open flreulace. hanlnood floors ens
front Hot-water heat, cas anil ' ami elecirlclt . Lns kitchen Th home.
modern appointment Open
eleftrieltj, pan kit. hen.
wood tloors. tile liHh
sample: iioi-sn opkn for
INSPEfTIiiN
hard- indinle eer
1 for inpertlon See ih.'m before considering
eleewher.. Take lirrmant.n n or Willow
ji,rneiar over r he -, n i,e 100 feet Bou
1 leurl
IF IT' IN dintVI MON, SI.K OH ItLNT. t K HWL IT LITKIr
J. H. CHADWICK & CO., 5618 Germantown Ave.
iiliurtmn
Suburban
I i f rO. irTtVi
II THIS IS
WENKi&HASSE
itjr'Svl
!3y?nrjjfiL
r riimii in in
Till. TIVII. H) H MAIN MM. HIIVIKs T IVIM
M: Lit SI ( II VI I I OS IS MM.
jinn'inoniH n i n ih ewlirn h u.-.
vv ii i ue i , im nun 'ii r ."in
Ilullt . I Ii I l r m, J Til Ml
HVTHs vi. i, Mli ii rt li -n..r 11 i n
tut. I t it s " 'i -.1 n qn j
too twrn api h m ft - ee( r g I. r I,
1 i.t '1. 1" 'n x n chi .. h 1
near st ,r I n rfniiii
om 7nnn
HI VI '
i i'itirr
IH I ST IllMIt HOVIK
l UI'l'OHTl MT
21u (Iniin r . a
iv, i tl i , , trn , .
ti
IP
V vv
r . n J l,irS
'i almc up t.rt k
all in i.1,-ri, . i
W tlhin in i H k
C N HI" It! VIOIiri 1 II
-i v - , I II
i
h
l
o d-
hi Is
.i iff
nvxatv
H
on
tMtm
SsBmitmnwsi bipck- muss
Wet I'lillailelphlu
Wm. H.W. Quick & Bro., Inc.
8 South 40th St.
Jffer the 1'olIuw.inB Properties for Sale
3900 Chestnut St.
The be-t arai-tment .re In WVst Phila
delphia I.t Ituix.'.'.i fr. ntlng .n H treet
good elevation h Kh , luss surrounllnga,
exiellent ur fu. iiliir. XI tke an offer.
4207 Walnut St.
Lot K'.iJI, . semi fcuhtnban home. vlh
tn ctt limit" nil shide larte llbrarj.
reieptlon ant helr.mms mn.1rn plumbtnir ,
one of the rtnest ..n West VVilnui ttttci
Mubt be seen to be appreciate!
3827 Walnut St.
t storj semi detach I tone and brick rest,
deme inmalnlnic It rooms and many
unique features beaiuful outluok: must
b sold regardless of ,un
932 South 49th St.
A bamain 1.' room lmu built by Bud1
Bros harlwoivl flnili throughout elec
lights. KXclusht; nrlghitorhnoil Can t
soil close to asses.et aluatlon.
3809 Walnut St.
Modern i sior semi detache-1 dtrelllns
at a ereatl re.1u". ptir, unsurpassed
location unl conlitton. beautiful outlook
518 Woodland Terrace
Vewl pipeiel and painted 3-storv ld
arl resilnre ,t 3HX135. Mu,h.r .i.
pomr Urge r .onu and ponhM. To U
cl 1 at a a, nfl e
4007 Spring Garden
it'.r hcj,e ,onenTeni m r ..
I KI IT- 9K
m
iT riTluHiiirilimil TJYaTn'YflY ""r"Vn r - n l- n iii I ?,
- ill illinium i 1 1 rnrrirsTiMTaiwif iiMMi ii i i x w.-r?:viiiB.3V m jq--
IH 1 '" IflgP
9 t I
MMMMMMHaaafcjflBLjn ,.11 . . .a-mr . tasamaMr.iiBJsaaa.. . - " - J"JT .' .. .. . . . - - -- ' iirltf I ,. til
nW.. 0s.sSt2?
, i r i i- i trs rf
L t rfe nii ,
Iffjagt
mm
JJ'I 1
paper.! i,nd mhnu. ,
Knlvu.nl price fPr quick
ni remoal n, couitr I
H"l I'biliiilelphiii
HOMES AND INVESTMENTS
4206 SPRUCE STREET
H St. l
plunil lllfe-
! ? buih. tile ar1.
uerl ani palntel
4030 SPRING GARDEN STREET
i.
rn'-lTTi piumt 'g
. a'ed bia Kn
. i...... . . .. i,,. .. f ' ' '
Ju .na'ea aia loi ir i
350 NQRTH 42D STREET
no urn nil i r?- r i i- 1 1 i i -
3248 SANSOM STREET
. iir i i
eruetn l
r- ept on ha 1 ,
rotinih
$21, w i ! He 1 ( r SuvO
4400 SANSOM STREET
l ( ornei 41th ureei j rrmnis near f'
'examine ani mk in i tfr r
1 607 NORTH 34TH STREET
410 SOUTH 43D STREET
ciaV.rco,n;:,lo'nrt.-po.?e. -f.T p umhmr flrM-
storv
$1550
TELEI'HO.Nhs,
Bell. Belmont i
Meat 187
fOAITlj.. tuiPi h . t -.-., -i
aoth'p?' R' MCCLURE & CO.
Bgth Phone?, tg goulh mh Street.
Flying up that new home you huve
purchased or renttd? If to, make a
note of thu.
When Buying Furniture Our
Charge Account Plan
Th a..
Keystone
is at our rwi-e
1 an it pa., r
perm' .
VVHi N..T .
fa-jr of ala
i jor In ims
Philadelphia, Pa.
f "1FV A.V A' ' "l NT
W. J. McCORMACK
THE HOME OF GOOD FURNITURE
4065 Lancaster Ave. Both Phonea,
A. .