EVENING LEDGER-PHILADELPHIA, TUESDAY, SEPTEMBER 22, 1014-
i
13
awling is agaik
Chosen president
OF M. A. A, A. A. U.
t Last Nights Annual
Meeting at Engineers Club
Is Re-elected Leader for
Ensuing Year.
t u Alcorn, chairman of tho Cross-
Country Championship Committee of tho
umju Atlantic Association of the Ama-
Uur Athletic t'nlon, after last night's
mnual powwow of the meeting held at
,w Engineers' Club, stated that the junior
Hit and dale champion"!!"" " " "
probability bo held about Thanksgiving
nay Ho has also planned tho senior
..,.' to be held a couple of weeks later.
Ihl announcement will bo very Interest
te to the athletics of this section, who
rill be advised to start training at once.
Another matter of Interest that occu
pied the attention of the delegates nt
)t night's session was the fact that
there Is Inadequate facilities for the
proper encouragement of track and Held
ithletlts here. It Is a known fact that
(jure are few places where tho boyE
nay gather and train. In this great
city there should be plenty of vacant
ipots where an up-to-date athletic Held
could he developed. Point Breeze couriw
ind the one at Central Park are the
enly ones here track sport may be pro
moted for open competition. Surely there
Jj tome one who can come to the aid
cf the runners and Jumpers and give
them a place to enjoy the social, as well
physical, benefits. At the two parks
tamed mtoxlcntlm? liquors are so!d, nnd
there was a petition filed last night ask
ing the ReRltr.ition Committee to refuse
a sanction for games held at such places.
Action was deferred until tho Incoming
BegUtratinn Committee sets to work.
As was expected, there was no opposi
tion to the re-election of last year's of
ficers The following re-elections took
plice fienrae F. Pawling, president:
Frfd F. Hauer, vice president, Herman
Mfjer, secretary and treasurer, and
Peter P Carney, hamllcapper.
The Registration Committee Is formed
of the followint; Herman Meyer, Denny,
Burk, Suelo and Sutton. The delegates
to the national meeting In November will
be .John ft Tixloi, Pittsburgh; J. T Far-
rlni'ton, ib-adlm;, and Messrs. Pawling,
Jleyrr, Suttnn and Bauer. The alternates
are Missis Carney, Klrkpatrlck, Hurkc,
Denn. Alcorn and Hradcn.
The issnclntlon voted J100 to be sent to
New York as a testimonial to be used
In the erection of a monument to the
memory of James K Sullivan, who re
centl) dlfd.
The report of Handlcapper Peter P.
Carnev nas mci t Interesting, and he had
many nlre woida to say. He is of the
opinion thnt the pnrlt owners In Phila
delphia should encourage athletics by put
tlrs In pr ipcr places of training for the
athletes He alo thinks that by Interest
Ins the mutiny fair nreociiitlons of this
Etate and adjoining ones a greater
stimulus doultl lie given athletic activity.
Fred A tatlv is to be the oillclnl hnndi-
capper of all swimming events, nnil will
be In direct touch with Pete Carney at
all times
Ptfflient Pawling is eager to make the
ensuing xo.ir the mot smcccfcsful one In
trcjhlstorv of Middle Atlantic athletics,
and urges the athletes and officials to
do their part 0;Melnls should report on
time for the games and the" nthletcs
thouM end In their blanks early In order
to hIp the games committee and the
har.dicappei
Reports fro.ru Pittsburgh, Heading,
Scnnton. Trenton and other places boast
ing rninmimn rs xxcie most pleasing
Pittsburgh takes tho palm, for at that
athletic centre great things have been
accomplished
The matter of carrving the batnn In
relai ncer. was also discussed. That Is
a matter for the national body to con
slder, and the local delegates will take
that matter tin at the New York meeting.
Whether the Middle Atlantic Association
Is to earn the dead burden of tcKlstering
the Catholic Amateur Athletic I.eaRuo
athletes Is nnnthei matter for tho parent
ornnlzatlon in determine. The senti
ment of the delegates last night was
arainst the further encouragement of the
C. A A I. off members who nro not
hustling.
A mmmittv -vill ill upon the Mnjnr
an Pirk Oommlasicners In an effort to
unrest t'.e ,it m a swimming course
Jri.in tri-. rn l, UridR" down. If the A. A.
. eii ,fin th'- prlxllego the followers
ff aft,a"v i-ioit xvi I enJo great Meats
WCt MO..
Hivnj fciw '.xrii.tlimr nmonij the aina
t:r xxi, in t. mu'ei to occupy the at
Unilon f a cu:np-; nt lotnmlttce. Thoro
a Mb r,:i i,.., nut sonmlnm the
'1'r'sn.er. ,-nr not eimtilbuted their
-rf.
Ir. v,-irje Urudcr.'s gymnastic report
li fhirt. h .t ifii nituri ,..i,t, .! ......i.
jh'rtr? Ire p;um aar noliM of good work
SWARTHMORE TEAM
HAS STARTED TO
WORK IN EARNEST
Not
Train-
Though Weather Is
Conducive to Best
ing Work, Coaches Put
Proteges Through Hard
Paces.
SWAItTHMOIlE, Pa., Sept. 22.-Tho
first workout of tho season waB given
the Garnet squad this morning, when
moro than K candidates reported to
Coaches Gleg and Dr. Mercer. Only light
work was Indulged, A scrimmage will
bo held Thursday.
Seven, of last year's team reported and
It will take some hustling on the part
of the new candidates to win places. Tho
place which Is causing tho most anxiety
on the part of the coaches Is centre, as
a new man will have to bo doveloped
before tho first game with Vlllanova,
October 3, The material Is accredited by
all the coaches and Captain Ben Cllma
as being the best to enter college In
many years. Many of the now men nro
entering ,wlth excellent records which
promise success for tho season.
Tho slogan Is to "neat Pennsylvania"
on October 31 and then on to Haverford
as the big objective point on November
21. This Is the first clash between these
old Quaker rivals In ten years and
Haverford will be looking for revengo
for tho defeat of 1301.
Tho University of Virginia will make
Its first appearance In this section for
many years when It comes to Swarth
more, November 14. Revenge will be Its
aim also, as the game of 1911 resulted In
a victory for Swarthmoro, 9 to 8.
Since Coach Bob Maxwell will have
four veterans from last year to begin
with In Pete Hunter, "Jud" Endlcott,
"Pat" McGovern and "Tom" McCabe,
txvo ends must bo developed. Captain
Clime, MacKlssIck and "Porky" Murch
form a nucleus for the back field. These
three men are all excellent kickers, bo
that departmont will be stronger than
usual.
N. E. SOCCER MEN OUT
Big Squad Reported for Instruction
Yesterday Football Men Practice.
Northeast High School resumed grid
iron piactlce yestorday afternoon. In
spite of the heat the men xvero put
through a hard signal practice and
wound up with a 15 minutes' scrlm
mnge. The coaches have recognized the ne
cessity of developing a capable centre,
and Heledt Is being drilled especially for
this position. Yesterday "Vic" Schmidt,
former Northeast star and captain of the
Hucknell eleven In 1912, gave Hedelt side
line Instructions In passing and falling
on the bad. Wetzel seems to have xvon
a permanent place In the backfleld. King,
a former end at Howard College, Bir
mingham, Ala., reported for the first
time.
The varsity lined up as follows: Knds,
Breilhaupt and Reed; tackles, nidpath
and Gardner: ginrds, Mnssey nnd Brown;
centie, A Whltakcr: backs, Webb, Hcucr,
Wetzel and F Whltaker.
The Northeast soccer men reported yes
terday and held the first practice of tho
season. Five xiter.ins and thlrty-slv nexv
candidates xvere on the Held. McComas
wan the only man from last year's team
who did not report.
The following eandlditcs reported:
Line Day. A Schnpps HllleRaos, Fretz,
Stewart, Stulls. flee. Traphoner, Frlel,
Driscoll, Kngel, Klmiigham. Slater, John
son, Hammer. Orlscom. Backfleld
Crltchlow. Hartle. Hennetto. A. Whltaker,
Kupilcc, W Klopp, .lenklns. McConnell,
Blankin, Balr. Hartlng, Cirscn. A. Rob
ertson. Mellor, Squire, Stnckey, Schoe
maker, Uindau.
FAIItMOUNT FIGHTS
At the Falrmount Athletic Club to
night, K. O. Harr Baker, of Wilming
ton, Ih scheduled to met Charlie Collins,
a ilsing young middleweight of Columbia,
Pa., In the xvind-np. Roth bojs have
imputations ati knock-nut artists and a
great battle should lesult. Young
Fletcher, of Kensington, and Young
Wernert, of tho same locality, xvill meet
In the semi-wlndup nnd the other con
tests will be between Willie Kline, of tho
Forty-seventh Waul, anil Pat Diddle, of
West Philadelphia; Joe Smith, of tho
1 S. S. Michigan, and Tommy Hocfui,
of tho Tenth Ward, -ind Young Jack
Toland of the Twelfth Ward, and Youn?
Gannon, of Southwark.
, Roped Avrena Notes
,n w cf tho :,:-et .avie Uinta xnr -n
, ... t',y' 1,,""lU Ln'l.hte. Ph,Hillpiiu,
... .ri-. -,i, ,i ... oivnM "" ",.
At
a..,Tf '""''"" ,ha """" HrhiMn mlnutu at
JU.I-,- ,.ia lhw, A y.j ln9ment Anil ,he
" 'Va atlKlljtrlv r.n l.... . .1. 1
. , - " v,-...a ,,, u ,'.,!,,
' " leu for 4
T,Hl 4t b-n
n
nil
i-pun th!r trncth
i.:.Kf,jt at all tni. it
n'.rj t imx jlxfn a dati
l XQ f.n.th .. .1., .. .. .
-l itJL iZ!ni .ru". ' :cioirn. Ttii
K'1' A Ji"111 tht ihlrrj rouni, when
xor, at-
hd iironir
ant Jn.nr.io
onoca avtn
Jc th. nri,.iV r"n ,r-o'ni fir.lBh
K.2JK,Hi" ""mS Coer a
Mfci fnJ"1 "x f1 ro'"". ltl. b
I'wMft'.ua nother eaiy mari law
!.''' Att.II.
Jci" ' b'lt
;r (t
Cov'nirton. Ky
llMmfil
Mth Johnn Kilbone on Oc
"oi & v VlI: .l h,.u n a n ron',
U ,.. i . :
wl ln. Th IlKhlor will
CCllfl.tan k.
V TV " vir
'- i i. -a pounu at rlngM
lo"hi,Uubr,r"; ?ii ra'""'nH m-iileweUht
tea Jrl.A'n .!loln 'li koc! orK hi
J. ii'.,nuJn'' contut here, but ha
:'"'
."' nee
! M.-rrax Jo,1''?'1 ,ak,nK a r,', " "
OfWtJir. llSi?vhr,i"EI "P""" " i:,liW
' -. Jimmy riahhv in .mtutu h,,
run ntat
'Sa ?". I lin
-..., Iilr,l,n ,,.,
t'T'ilat t,rtln man lua
" lid ni"
.-Jai
Ih corner of IVnlh
and ha a number
thr Amnnu I1i,m
i ".llm, Prr ,.f
KrllS-. "Joe" I'flilllns
IfN -, r-j... .
ft'eiburn and -f-o.?.? ,mteh'l Jack"
! th im ai na ,v'.t'r 5 Te M- are
?,! I.a J,,in,torlSyn''!:u"d. inn e,ch
' a'l a t1 n h -reatad 1 loi of
. 'm nik .1A...
Vi
An...,. --", ,!! J , ,n..u xi . .
,n o., -,i"f, ?(" njlt n f N.
1 ik. '7 IT? p inrtt h ik m ,
k ,'uncMiiB si bid ,a
'nhag,,
The Golfers' Aftermath
nut, nf the most iltlcull day's work that has
irvontlv fnlln lo the lot of a local golfer a
lli tak thai wan dlBimted nf h .Spencer ,.
Wrlsht. Jr of Aronimlnk. in the annual liul
tntlnn tournamfnt of the I'hlljilflt.hia I'rlcket
ilub at St. Martin's lait eeK
In hf firt round lie wa .iired with C. 1.
C'R;rrl, nn of his i-lunmates. and after btiild
InK un a lead uf fiair hoiei tumred lontf
tnoticli io alio ralveti In iquare the match
and nake another hole nerei.tar). Me atic.
ic-cded in innlnir ihe extra noi? ,lnrj tn4
n atch. an I doubtless tircathed a lUh of relief
when It yas ended
Hut hie 'rouble er n"i oxer, for In tho
afternoon "f the same da he ha I to plax
II. II. Knnclne, the Individual rhainplon of
rid'adilphla. and another itrenuous n,itet
a in nnre for hltn the fourternlh te
WrlsM had acumulaiod a lead of three hil.
whl'h ecTied eafe enouxli at thai staK" .f tlw
Katne but nhtn the last tp xxab reached
Franclne ! only one down. Wright hud
nnlv to dn or haixv the laat hole In order
to ta,e the match but missed a shert rurl
ani ainiiii had to play an tutra hole Tie sue
rexled in taking the etra hole and the mil' h
and wa fe tor the day
V H Blcklng. of Arnnlmlnk. it pla,nz
etead) and consistent tnlf thec daxs. In his
inatcU dlh J N' Ptevent nt St Martin's lat
week he succumhed to Hie N'asiau plir only
on thn last green aul at that unull haxe
prohiblx been return! the w Inner had he been
able to lun down a fairly long putt on the
eighteenth green. Ills Heady Imirovement thu
sc&tt'O itas matked him as a daer xxho mut
at oil times l reckoned with.
Scencer Jone. of I'lxncuth. Is another of
iI-m x-ouneer school of golfers who will hate
t . be taken Into account for his work at Ft
Martin wae conslstemli of hljli class lie
defeated tivu sudi sterling lOajers as Oeorae
W ?tiiiidl and l.aton M Sthoch. and In
til' lattc, niatil, his niedil scire was Td. Ilia
c. ntest hi 'h final round with .Stearns was
one of ihe r t matches of the season and he
nexer filtered, though exentually Siearns
pr"xed too strong for him.
By a strnnee coincidence l M Washburn
and C H Webster. Jr . met in Ihe rtnal round
or the second slir'een at St Martin's. Web
sier had an eld sc re to pax off as he went
down to defeat before the Merlon plaxer In
the Intercol'eglate ihimrlonshlp a little oxer
a week m Thl was their second meeting,
and Webster exrectel to exen up things but
Washburn xx uld n-t be denied and w-xn out,
trO'igh no' without onslderable dlfflcult
I- u rather irail'xlng to lee Otorge i
Thorn is cairx off the Ooxernor's Pup n the
I S' Mar In I tournament l nomas nas had
rslhcr aard lu' k In a number of meets, but
tht time he struck his gait and maintained
I it un'll 'he end JIi had n' as task to beat
II w-d M'' ill wh" 1 mighty fine golfer
I b -i he '' k trfl ti b' guns r ra'her
bit -c and ess -c'u-n'd th w'naer by the
aa- ww rrsriln of oi hole.
FINANCIAL AND COMMERCIAL SITUATION HOME AND ABROAD
BOND SALESMEN
REPORT A BETTER
SECURITIES' TRADE
After First Day on Street
They Tell of Desire of
Traders to Get Into Market.
London May Reopen.
Bond salesmen who have been permit
ted to go on tho street and canvass for
new business are reporting to their houses
a fairly brisk demand for both the listed
and unlisted securities. Getting In direct
touch with the Individual Investors who
deal In small lots, they naturally nro able
to Judge tho situation outside the broker
age unices. And, In a general way, they
are reporting existence of a returned con
tldenco which they declare Is almost
everywhere apparent.
Thero has, In fact, developed such a
fairly brisk demand, In a small way, for
various classes of securities, thnt talk
Is heard among tho Investment brokers of
having the committees supervising the
sales of securities again lift the ban so
that trading In largor volume may bo per
mitted. Ultimately this new demand
may be the entering wedge for a move
ment that shall gradually develop Into a
resumption of business on an unrestricted
scale.
The commltteees, since their organi
zation by the Stock Exchange and by
bond houses dealing In unlisted securities,
have fixed prices ns of July 30 as the
basis upon which transfers shall be b.isedt
Salesmen, however, find a demand for
some of the high-grade Issues nt prices
which nre In many Instances In excess
of those which ruled under the depressing
closing markets. This condition, natu
rally, offers much encouragement to tho
supervising commltttees and to brokers
generally. It Is being used as a bull
argument for some action looking to a
reopening of tho exchanges.
GOLD POOL A FACTOR.
Foreign exchinge, that determining
factor which Is Just now of such great
Importance, still maintains nn easier
tendency and another drop In rates la
looked for soon. Organization of the
JIOO.000,000 gold pool and larger grain and
cotton shipments are having a good
effect abroad and the cables tell of an
easier and bettor feeling all around.
Effect of the Inauguration of the new
gold pool should accomplish In an arbi
trary manner what has been a matter
of gradual growth during the lost few
weeks. In brief, the object of tho pool
Is to provide a means not only of pre
venting advances In sterling exchange
raten, but of forcing the quotations down
to a workable basis.
First Instalment of the pooled gold to
be collected from the banks will be $25,
non.OOA This will be deposited at first In
New York, and will be transferred to
Ottaxx-a and paid ox'er there to the agent
of the Hank of England In such amount
as, In the ludgment of the committee,
will bo thought necessary.
When gold has been deposited bills will
be Immediately- drawn upon and offered
on the market In sufficient volume to
keep rates on a reasonable basis Hope
Is expressed thnt the net result will be a
prompt building up of sterling exchango
machinery from the complete breakdown
to which it has been subjected.
FINANCIAL NOTES
Head of one of Philadelphia's largo
brokerage houses today received a letter
from a relative In Scotland In which he
was told that employes of one of the
biggest shipyards on the Ftlver Clyde
had recently received In their pay en
velopes this notice: "There will be no
more work for you until the war Is
over. Your country needs your serv
ices." "Guess It's a case of fight or starve,"
commented the broker.
Clarence H. Clark. 3d, of the bond
department of E. V. Clark ci Co., was
primarily responsible for tho Inaugura
tion of the hound show now being given
In connection with the P-ryn Mawr Horse
Show He prizes his collection of beagle
hounds as among the most representa
tive of their type In this country.
ecordlng to a wireless dispatch re
ceived In London, gold holdings of the
Imperial Hank of Germany on Septem
ber 15 wore t fil.l.ron.flon marks, notes fn
circulation. 1.01.1 nr,rriO mark, deposits,
2,lil.roonoi marks: bills discounted, I, Bio..
COO.ooO marks, Investment 50,0v,oiv) marks.
NOTES OF THE RAIL
Directors of the Tea Corporation "f
the Kansas riu Mexico nnd Orient Itall
toad have decided to makp application to
tho Texas Hnllronrl Comml"ion for
nutliniiix to Icuie $l,4.1,iv) nf bonds on
the division of that line hettxeen Alpine
and lilrvln. The lsue will be based on a
valuation of JlS.iVfl per mile.
Chicago. Burlington and Quincy has put
It miles of automatic block signals In
service near Akron. Col
Jelllcn t'oal and Hallroad has been
organized a Chattanooga. Tenn. The
company will build a railroad from Pine
Knot, Kv., fouihxvest to Jellico, about IS
miles. Construction work will be started
In October, It Is understood.
Jefferson and Northwestern h.is under
consideration the question of building a
combined passenger and freight stntlou
at Ji fferson, Tex.
Sydnev .J. Clifford, head bookkeeper nnd
statl'th'lnn of the Hoston and Maine Hail
road, will leave tin- employ of that rail
road on October 1. to become accountant
for the Interstate Commerce Commission
PUBLIC UTILITY EARNINGS
INTKIUIOltlirrill RAPID I'llA-VrilT
inn inn.
July gross 2.AII.IT1 Wilis'.';
Net after taaes . . . l.'IMflll 1 in.illi
TRXAFl 1WVEII ANI MHIIT CO.
Aug'IM gross J112.!WT ftT.-i'i
Net nfler taxes I.020 U..Y11
Tnelx'e months' gross... I.WO.i'Vi :DS.IH.'
Net alter laes .M.1 tSH 'l jjj
FORT WORTH POWEH ANI LIGHT oc.
August gross ll"ll i;o.U
Net after taxes . . 3fl 315 .LftOl
Teixe months' groxs... SI1..WI SI1 Sil
Net after taxes . l.VMVlj lll-ivi
MT Vx'llir.NKY I'OH'ER ANN El.K-.i'.
fii nt; s r,
.in.!!! a irt
c'.'ll llM 111 j, I
(1 !"! W 111
I.K1HT
Rrost
August gross ..
Set after taxes
Txx-elie months
Net after tuxes
HAVANA KI.KCTRIL' RAILWAY.
,;st ruui.it.
inn ,ecrae
Third week September Vi.'tte JU'l'l
Krom January I . S-i'V'i.lS? JS.T'JS
DIVIDENDS DECLARED
Manning, Maxwell a Meore. Inc. regular
quarterlx l per cent . iasble .-"eiueinlier au
to stock of record of that date.
UTILITY COMPANIES
FAVOR REGULATION
BY COMMISSIONS
Nearly Every State Now
Has Such Bodies and
Their Decisions, Generally
Speaking, Inspire Confidence.
Continental lias an! I'lectrlc
regular quarterly I'j per cent
I'ornnratliin
nnrl I. nf 1 r r cent nn rrtmmnn n., i hl f,- I . - ' "i '
toler 1 lo stock of reconl s-'ep'embtr I','.
lnterlake Steamship rnmpanx- uuirterlx in
per cent . pis able Octoher 1 to stoik nf rec
ord September at s
SUGAR PRICES CUT
Arbuckle Brothers have reduced tho
price of refined sugar H cent a pound to
6 To cents to meet quotations made by
the Federal Sugar Refining Compan, on
Monday The American Sugar Refining
Company H H Howell Son 4 Co and
the Warner Sugar Refining Company
continue to quote 7 IS cents pound.
CommiBsloil regulation of public utilities
has grown to extensively In the last year
or two that It is now ono of tho most
Important problems with which tho pub
lice Bervlco corporations of the country
ha.vo to deal. Virtually every Stntc In
tho Union has a regulatory commission
of some sort.
These commissions nnd their relation
to Jnvestors and public utility companies
aro discussed In an article In the Maga
zine of Wall Street by Arthur St. George
Joyce, financial editor of the Evbmnq
Ledoer, In which these facts are cm
ohnslzed: "Commission regulation of public
utilities has been discussed from many
angles, and In the final analysis tho Judg
ment of those who know has almost
universally been that whore this regula
tion Is equitably enforced nnd the rcg
ulntory acts nre of a kind which in
spire confidence, both from the general
public and the utilities, such commis
sions are of material benefit to nil con
cerned. "There has been a great deal of regula
tion within the last few years. Figures
show that an average of one State a
month enacted' laws last year creating
theBe commissions. Supervision by State
nnd municipal governments seems to bo
the order of tho day. ' Government
ownership Is talked of In many sections,
and some municipalities have gone Into
the business of operating street railway,
electric light and power plants.
"The utility corporations do not object
to regulation by State or municipality.
On the other hand, they welcome It.
Experience has shown that In most of
the States wherein this supervision Is In
force there has been a desire on the part
of the commissioners to look at condi
tions In a common sense light, nnd give
recognition to the fact that the corpora
tions ns well ns the general public have
rights which ought to be respected.
ACTS CONSIDERED FAIR.
' "On the whole, therefore, the reg
ulatory acts now In force are considered
fair nnd reasonable to both the public
and the public service corporations.
Where regulation Is Just and wisely ad
ministered, there develops a better feel
ing all around and there Is added pro
tection given the companies, the Stato
or municipality, as the case may be,
and the general public. In most of the
States which have commissions, tho one
big advantage to the Investing public
which stands out prominently. Is tho
power of supervision which these com
missions have over the Issuance of
securities by the public service com
panies n dangerous power. Incidentally,
when In the hands of an unskilled or
partisan commission.
"It Is mandatory, In these States, for
companies wishing to put on the mnrknt
a security Issue of any sort, to submit
their accounts to Investigation bj the
commissioners. The latter bo carefully
Into the financial condition of the com'
pany to learn If the Issue is xxarr.inteil
and. If so, to see that there Is sulllclent
security behind the Issue to guarantee
protection to Investors who put their
money Into the nexx bonds or notes, or
whatever form of securit may he de
cided upon by the comnnnies In thla
way the Stnte virtually lnclon.es the
securities so Issued. The commission. If
conditions warrant, puts Its approval nn
the securities nnd when they nre tiken
Into the open market nnd traded In. thev
carry not only the Indorsement of n.
reputable utilities companv, hut also the
approval of the Commonxxenlth in xchlrh
the corporation Is chartered. It can be
seen at a glance xxhnt a benefit Is the
operation of such laws, to the public and
to the companies.
JSSl'ANCK OF SKCl-RlTIi:S.
"Ponds having behind them Ihe Indorse,
ment of n repuinhle commission inspire
public confidence to a marked clesrce and
nre more easily dl.iposed nf l-ecause of
this Increased security. Such supei
vlslon by Slate ecmimlssioneis precludes
nlso the possibility of a corporation not
financially sound putting Into the open
mnrket an issue nf secui!t!a which
might result in flmncial loss to in
vestors. "Most of the commissions hnn ylx-eu
ample evidence thai the.x lenllze public
utilities are u natural mnnnpol) , thin
competition, with Us lesulinnt rale unrs,
and In the end Inevituhle combination
usually lesultluc in ovpr-miiit.illzntlon. Is
tar less satisfactory from pxci.x stand
point than the proper regulation nf one
cempany protected during its grnxxth.
For this reason it has been the imllry
111 virtual!) excrx c;te xxliere commis
sions have Jurisdiction, to discourage the
granting of fianchlses to crunpeilng com
panies The final lesult is the protection
of public utility securities, and at the
same time the uumantee nf fair tates
and good ten Ice to the public"
RATE CHARGE SANCTIONED
Utilities Company Allowed to Make
Readjustment of Original Schedule.
TRENTON. Sept. 22 - The Honrl of
Public ftllity I'ommlssinners hds - Unwed
an order for a readjustment nf th- rntes !
of the Nexv Kgypt Mshl. Heat. Power :
and Vntr .sembl. on ihe umund that
the comern Is still in n since of dxe.,i
ment. The original schedule xxns to haxe
been placed in effect on .Mf I. but it was
postponed Indefinitely alter tho CommU
lon permitted n hearing on tho (mtice
of the lales Tho Commission now makea
a light reduction from too original
a mount
The echedule. k originally tiled bx thf
company, provided for a charge of JO
veins pet kllloxxalt hour, with a dU-
rwint of 10 per cent for prompt n.x n.ent.
The board resjulntod the rate .ulnis
to the amount of cUvtnottv ennsuractj.
LIFE INSURANCE
COURSES IN HIGHER
SCHOOLS IS URGED
U. of P. Expert Tells Na
tional Underwricrs' Asso
ciation of Need for Sys
tematic Educational Work
in Senior Year.
Establishment of life Insurance courses
In tho schools, colleges and universities
of tho country Is advocated by Dr. S. S.
Huebner, professor of Insurance and com
merce In tho Wharton School of tho
University of Pennsylvania. Dr. Huebner
Is now engaged In framing a life Insur
ance text book for the National Associa
tion of Mfc Underwriters, and It Is to
the members of this Influential Insurance
organization that he appeals to have life
Insurance education made a feature of
tho curriculum of the higher schools.
"Life Insurance, so vitally nffectlng
nearly every mnn and woman In the com
munity nnd so Intimately related to the
welfare of the masses," Dr. Huebner
says, addressing members of the asso
ciation, "should find some place In the
curriculum of our high schools, preferably
In the senior year.
"Ilfe Insurance education In colleges
and universities, hoxvever, should nlso be
emphnsl7ed by all means, since, to an
Increasing extent, college graduates be
como lenders In the community nnd In
themselves are educational forces In their
respective localities."
To 'present the subject adequately and
In accordance with the needs of different
classes of students. Dr. Huebner sug
gests the folloxvlng progrnm, nlthough he
snys he appreciates that Its full adoption
must be limited to the lnrgest institu
tions nnd must necessarily depend upon
the number of candidates offering them
selves for tho respective courses:
"The establishment of special courses
In actuarial science. These courses can
advantageously bo given In the depart
ment of mathematics.
"The establishment of a separate courso
In llfo Insurance adapted to the needs of
those who contend to become solicitors
and otherwise become connected xx'lth
varloiiB departments of the business. Tho
Instruction In this course should be tench
nlcal In character and cover the field
thoroughly.
"The establishment of a general course
adapted to meet the needs of those stu
dents who desire only a general knowledge
of Insurance and who take the subject
as a part of a general business course.
PhllHdelphln. has been selected as the
permanent headquarters of the new In
surance Federation of Pennsylx-anla. a
newly formed organization of five Insur
ance agents of this State.
Actuary Robert E. Forster, of the Penn
sylvania Insurance Department, has re
turned from Europe. Ho was maroonpd
In Sxvltzerland for about a week after
the outbreak of hostilities.
The Notional Association of Casualty
and Surety Agents Is holding Its second
annual convntion at White Sulphur
Springs, W. Vn., today.
POOR'S MANUAL FOR 1914
Complete Record, in Three Volumes,
Covers Corpornte Investment Field.
Poor's Manual for 10H, In three volumes,
contains ftlll panes of text, coverlnu the
entlro field of corporate Investment In
America. Statements are given for
virtually every company In which thero
Is public interest.
l he current edition contains many new
companies stock and bond Issues have
been amplified and Information Is given,
xvherever possible, showing whether or
not bond Interest Is payable without de
duction of the normal United States In
come tax. I,nte Income accounts and
balance sheets are Klven and In many
cases are In comparative form.
The General Index of the Manual of
nunc i iiimei. and the Manual of In
dustrials contains the names of all
merged companies, xxlth references to
the companies Into nhich thev hax-e
passed. In the Manual of Railroads this
information Is Riven in the merged list
DIVIDEND IS DEFERRED
Directors of the Dominion Iron and
Steel Compan) have decided to defer
the tisuil eeml-annual dividend The
last dividend paid xxas 3V- per cent., on
April 1.
Inlerlnke Steamship Company has re
duced its dividend from S per cent, to
a pr cent, minimi basis by declaring
a quartet ly dividend of Us per cent.,
pa.xnble October 1, to stock of record
September U
WAR RISK INSURANCE FLAGLER'S DREAM TO
OBTAINABLE HERE BY i UNITE CUBA WITH U.S.
WAY OF WASHINGTON
Collector of Port Berry
Wires Applications to
Treasury Department for
Acceptances and Rates.
Collector of the Port Uerry has been
nuthorlzed by the Trensury Department
to receive applications from steamship
ngents, owners nnd shippers for war risk
Insurance on cargoes In vessels flying the
American flag. Application for Insurance
of vessels must be done through Wash
ington. Tho authorization obviates the
necessity of establishing a sepnrate
branch of the nureau of War Hlsk In
surance here.
Upon receipt of application for Insur
ance, the Collet tor will wire the name
of the vessel, the cargo Carried, the
amount of Insurnnc required, the des
tination and approximate sailing date to
the bureau In Washington. In reply he
will receive a rate for acceptance. If
It Is ncceptablo to the applicant, nn ap
pllrntlnn Bhnll be made In duplicate upon
a prescribed document. The original Is
to he signed by the applicant or his duly
authorised representative and given to
the Collector, who In turn will sign the
copy nnd give It to the applicant. The
Collector will send the original to Wash
ington, where the pollry shall be mnde
out nnd sent to him for delivery to the
appllcnnt, uho, upon Its receipt, surren
ders the copy rf the application to the
Collector All checks mnde in pi j ment
of premiums must be certified and mnde
pnynble to the Trensurer of the United
Suites. Other regulations follow.
Tho Collector shnll satisfy himself be.
fore submitting any war risk that the
applicant has marine Insurance In an
Insurance company or companies on the
enrgo on which he wishes wnr risk In
surance. The nmount Insured ngalnst war risk
cannot, In any circumstances, exceed the
amount insured ngalnst mnrlne risks. If
the applicant Is unable to stnte definitely
the nmount to be Insured he shnll declare
a provisional amount, which may not be
lncreasd, but xxhlch may be reduced,
upon receipt of deflnlt" advice, to an
nmount not less than the total amount
Insured under marine policies. Premiums
shall bo paid on this provisional amount,
and If the amount Is reduced xxhen final
particulars nre known, the excess of such
premium will be returnd to the assured
by the Treasury Depnrtmcnt
The rate of premium charged will be
made from day to day by the nurenti of
War Risk Insurance, nnd may be had
upon application to the bureau. The
rate will vary for the different voyages
and the cargoes Insured.
The Bureau of War Risk Insurance will
not be hound by any errors made In tho
calculation of the premium or In filling
In the form. Should error be subsequently i
discovered a readlustment must be made.
Applications for Insmanre on vessels
under the American flag will be accepted
for periods of 90 days, or for voyages
commencing on and after the date hereof.
The only rlks that will be covered nr
those Included In the form nf policy to bo
Issued by the Bureau of War Risks Insur- i
anc I
Application for vessii policies must be j
mnde direct to tho Hureou of War Risk
Insurance. Treasurx Department, Wash- ,
Ington, D i' Policies will be Issued In i
Washington only, and no neent or repre- '
sentatlve nf the Go-rnment may bind
or otherwise accept Insurance unless spe
cially authorized bv the nureau at Wash- 1
Ington.
SWISS FINANCES FIRM. I
WAR LOAN OVERSUBSCRIBED
BY RAIL REALIZED
Ferry Float to Carry Cars
From Key West to Ha
vana Is Launched at Cramp
Shipyards.
Another step in the realization of
lleury M. Flagler's dream of uniting
the United Slates with Cuba by rail
will be taken this afternoon with the
launching of n enr float at the yards
of the William Crnmp A Sons Ship and
Engl ni Building Company The float
will upon Its completion ho the largest
crnft of Its type afloat. It will plv be
tween Key West, Fla., nnd Havana,
Cuba.
Miss Florence Marie Bcckwlth. daugh
ter of J. P. Ueckwlth, vice president of
the Florida East Coast Railroad Com
pany, Is making a special trip hers
from St. Augustine, Fla., to perforin tho
part of sponsor for the gigantic car
float. She will name It for the lata
Henry M. Flagler, who used his millions
In planning for the Joining of Cuba and
Florida. The launching will take place
shortly after 3 o'clock. A host of ship
ping men. officials of the railroad com
pany nnd shipbuilding plants are ex
pected to be present. A luncheon will
folloxv the Inunch
Th" Henry M. Flagler will havo a car
rying capacity of .10 of the largest freight
cars loaded. The triple expansion, re
ciprocating engines, capable of develop
ing 1350 horsepoxxer, will carry tho craft
from Key West to Havana, a distance of
!0 miles. In eight hours. This will re
duce the present running time by several
hours. It Is expected In tho near future
the craft will carry passenger cars, en
abling travelers to make tho entire dis
tance between New York and Havana by
rail.
Extra precaution has been taken to In
sure tho safety of the cars which will
he carried on the main deck on four
tracks, while the vessel Is at sea.
A warlike aspect Is given the craft
arrangements to mount rapid-lire and
l small calibre batteries In order to
make It easy to lit her out as a transport
or supply vessel in case of necessity.
Besides inaugurating a new freight ser
vice between Cuba nnd this country, the
craft is exp.cted to Increase the com
mi rce betxx-een the two countries Busi
ness mii of Cuba nre greatly interested In
th" prolect nnd hax'e promised to give It
their support.
The hull of the float Is bullr of steel
and conforms with nil of the
demanded In a essel of its
Keneral dimensions nre.
l.-nth ox'r all ...
LnKth hetxxn rrpna.lculara.
Ueant, mold-i .
Depth
Hrcadth of deck . .
Spoetl. loaded xxlth 2.l'i0 tona dead
xxeiclu .
lations
The
.".w ft
.!' feet
ST ft
22 feet
:.T feet
12 knots
RAILROAD NEVER STARTED
Government Calls Exaggerated Re
ports Attacking Country's Credit.
WASHINGTON. Sept. 2J.-Reports of
financial troubles of the Sxviss Govern
ment were declared to be exaggerated In ' incorporators
a cable from Berne to the Sxxlss legation
today.
"Conditions in Switzerland aro quiet
and the prices nf foodstuffs are moder
ate." a statement from the xvlss legn
tlon todav read.
"The army is still at the frontier. A
wnr loan In Sxvltzerland recently was
largely oversubscribed.
"In the last few days cable reports
Mere published In the American press
which are apt to Injure the credit of
Sivl7ernnd and Klie an entirely false
Impression of the prevailing situation
there."
Stockholders Seek Dissolution of Co.
Incorported nt $250,000.
TRENTON. Sept. 22. Articles of oisso
lutlon xx-ere tiled with tho Secretary of
I Stnte today by stockholders of the Penn
sylvanla, l.ackawanna and Erie Connect
ing Railroad Companv. The company
I was incorporated In 111", with a capital
I stock of B"i,rw. it was the purpose of
I the concern to construct and operate a
I raliroad in Hunson Cnuntx Accord
I Ing to the dissolution certificates, the
company has not commenced building the)
road and has no indebtedness.
I .lames K PHe xxas the agent, ana me
BAR SILVER
t'oinmercUl bar sllx-er xx-as quoted In
New York today at h2 cents, on advance
nf l' cents Bar silver In London was
up d to ;i, d
are as follows. A ll'lam
D Braldwood, Franklvn Doe. Henry Mc-
Math, Henry Rnehep, Albert Aston,
Brooklxn, v T. Hamton. New York city;
T. F. Chauncy.
WHEAT TRADING SLOW
WITH MARKET EASIER
PHILADELPHIA MARKETS
PROVISIONS
Mirket ipilet nnd th..in itni.wt.int chatm.
t'lty Iwf, In etj, iiuiKh.i an 1 nir.ltlct ai i,
;2c., V.Xfil?rn h-it. In i. smnkei. HKy l'. .
cltx bcf, fcnu Wl i, and ten lerb. mnkel in I
air dried, ;2u u Wrttern Ler knu. M and
terrtirs. nuked, T.'fillc. Wet hams ion I V. .
pork fan.il) ,'i'.fi;r llama. S I. ured.
loeia. .Vj4il",, . d.i , (kinn'!. lu.a. I. ,
HI .. .In, d.i. mkf.l Ivttlti- other hamr
ht!!"kei. cltx ri,re. 4b t' bran I rind axeraje.
I.li'tiic . hams. ro .! Western cured. P-fJ
Ilk., ,, . tieil. .1. tiwnplffcg 2ftiic . ; cnic
hmiMrr. il I' cured l.i.. litfUi'.-i . d.,..
inenbeit ll'all'-j" bllles In lii-kl c,ri
liic in axerue. '." IHftiv treakfatt la-
en to liMni Jti'l aer4K c.n mired Si'
JI' . lireakUit la n. Ustin nre I 'Vti'.'lc .
lard Mrgicrn rf)nnl tirc. !ijf)UV' d ,
do do. tub H'ylHIc lamf ue cltx,
k ttl rendered, in tierc ll,JU" !ir,,
pure ilt krttl. rendered. In uh. tl"al'.c
SI'GAH
ItliriNKItWvTraiU quli in.l prli gn
rhonsjf I aitan liii". fan1 la -i 7 iji mi
KianuUt. T .'.V j-nw rel T V oiQff'
t loners' A T iftc toft gral. (HVJTA
l)AIU PKOUUXS
ar ,
In exnort
mber J II
No. !
I "t. Knp..ri Iniium fllr
I S" !" Nn- 2 red Wc-tem M IVjli'n
! i?''.,iiM',.'ec'i'''"' .r""0 .h""h Trade quiet
i tut irnej etad with ni derm- ofterinitj. i;ar
I Ion. for ... al trade a i, i , ,,ti, ,, , ,.,.
I 'v1Vil. ,t..a,n-r ,e xvSsxl.;.
I .. . JttP"'1,,- moa "'h "pric
tlcn and i;eri c . j ithttr v.f, v,' ijn't
jrlwhll Jll,3.V Vr, I xhi i?i.
i i.orii ite, ,ipt iiti hM j.nnn ion
in mill lm.inl MUM nn, ince. xxitnTT,
.n.runt chanir Inttr . Iar 4 Til a a l
bunsa Unlgrt j.ire M.k 80bR.Jlii di
,.i,.,n' i-f,',VaPl,,i '',k""''i" PrlnB ftrt
ciMr Kfis.2.1 , .triirfht f j!iga?i ,i
patent $Mao i .,rit tnn.:. Id Ja 7.1'
ctlx mill chi-e ipt fin ; Tmi, l)SOTx'
" 'rwr Kr tp, xx in , tear 54 TVIIJ
KIR ri.111 It S..ld ..1'x.iv. bm value.
l4dlls held at .-. 1 M ,x, .M. In ooa
KKKSH FltriTS
t'IIKKK.
r.rtn '1't 1 1
1111' hi..
IVlll'c tli.
iffertnu llehi ami th market
u rl d t ' t Ne iork u'!'
'i'c ! 1 1 ' (air to scod.
In skim- tHittc
mi'iriiY
ABROGATE GRAIN CONTRACTS
M-:V YORK. Sept .1 -American K om
i-xporters havo ohtatmd the consent of
Germjn buxerg to the abrogation of con
tracts in confidfration of pax ment to
German linkers of the 1 per cent coni
mUflin that would have been due them
If the contract hd txen carried om
Thete development! are the outcome of
the transportation difficulties ,n res-i. d to
ocean trarnc result ins from the European
war.
I l t' Dull and anhout Important euaoga.
l-'..xil ITitlft. . It t iei II 'i l,v sini-s
hraili till rgf 174, Id . do mniluni
l.fa. f.'lpi duik. id I lit, lie. 4.x,
tlni(. Mil IV guinea r .ij. .ung
xxelt-niiig '.' ll and n i.i. T'c do..
M'lglilug I1,', l H. i.i. ik'toil-V it',
xxn.shlnk I I ai'ir . ""' ni .Vu piceeus
licr 1 1,1 I' 'il. I
ni(ri:il.Tb mark-1 rtrm an Urns
,luri.le-l.i - k u naul fur ahuu .. I
ttlix enial to utfertus Kreb kilUd fiixlf. 1
tr lb fleitrl heaxy 2l'c , 'ancx (th
io tva lb 4Piei" So'.c xxtlghiaK i P.
apece ? . njblni iij lb Bple 1781a.
lghlnE I lb aul ndr awece 10. id
r..oter dr picked I'H4c . briiling 1 hlcken
r.ib ueKhlns IVt'S- !bt P' IUVA
. fair ti C"! ISltJV (hu-feer Wtittra '
'?m lb and oxer apiece li)c do ,1,, J" x( '
'. lb aeiei 1S1 hrothnc hlricn wi
.lIUis PiliS lb . ITftV ,t ,.. . I
1 Mine and p.ir inlet ,01 lnr 1 'liter
frail ititlwui iim.,rtnt .hanuV Ap,,., SJ;
lbj Uraient.ln Rt,3 Vi Hh,h iVT5a"Si
ilSWj V1'" .'P' PeUwar. per hamiwi
' 8, " Bi " fi'fiasa F1.-....I. i
W rtinhttin i'(i cot Karlx Blak rpiiibr
tT.J .-, ''..' '" il" lr . rat?.' t lhr
IIM! rnHmn Jr m,, rrat- Jl . .
'," W taut IU2 niukl'tiiTT "
b Mfktl. 5tft- - 10 . dp pr .r. T.Vi mtr
ifn ' i.'fJIr A' '", 'f " v 'l i "' w
I. "11 h'" '''iii,nto. rr hakei 1 epianir
lt(, nml w 5,i' mwnv . medium X-a 'i
'. ,('ain J,M 1 l)it. ,r -hkr
.'. .,r. " .perbbi Prttet. K 1
1"' . "" ! . tS.WIl't 'lain r
xiwite .. 1 Miii'ai d.i x a 5 vi5
"' i ni ttVi ii"m ub. Blif:
Avar ! iHr,.tr JhflillL- .b. .-".?.
n. ...'- .5.!u- :.. : .-""i
. ...-, -- - - I..
Receipts Large at Leading Centres,
Despite Gloomy Reports.
CHU'AOn, Sept. I2.-Trade In wneat
was slnxx todav nnd the market easy.
There xvere fexx buinfi orders Receipts
xvere larce at ihe 'eadlng centres, in
cludlns b'3 cars at Minneapolis and Du
luth. analnpt 92 car a iar ago; 1271
1 cars at Winnipeg, against 1117 cars a
.xear aco, and 9t enra at Chicago, aealnjt
H3 cars a x-ear jcn. The easier tona
nas In th face of reports of rady ab
sorption nbrond, continued cold, wet
weather In Kurope and NPort sales In
the last JI hour of about l.tAlrti bushel
at all points. It nas apparent that shorta
iver pretty well covered
Porn xvos o,u!ot and easy. In smpa
thy xxlth wheat. The market at Buenos
Aires xvas under pi-essure on better
weather in Arcentlna and larger ar
rivals The Danube shipped 391.0"fl
bushels of corn to the I'nited Kingdom.
nnd North Africa nearly jnn.OOil bunhels.
The receipts here to-Jay wore 116 cars.
The xUible supplv In the I'nited State
It 6,fll!trtl bushels, an increase of K5VO
bushels for tho wi-ek There xvere
Hlinnrs of export sa'.e, thoush they
hve not been conftrmed
There unb little Interest in oals and
prices were easier The offerings came
fiorn scattered sotiries The receipts
here today wore 21S car. The vlslb
upply in the t'nited States Is 't ITS i0
btishfls. an increase of l.OJJ.fUVi bushels
for tlia week. Kurth'r sales for epott
liave been rMrl
Lnuimc futures rans'd a foi:
Wheat - Or.en
vvpiemear
I)rmhr
JI.m
t in mow dalixarx.
I.
1 s
Jtricx
lul
dn 1
bt.- lOj' i$m
umi
LAI
ire 1 ol.ral .
lb la.kVt,
i ' r il
Vlerajlov;
MltifirJ' ' ' '
AW . ::
nuyy
fepK-oibct
J.inu,i j .
Hid tAkl
Ttt
n
T'.
M
I
. UV1
-torn
tin
Hlb
mil
81
Yitrli'
Lo 1 '
'
i
I I?',
1 lllj
1 1'7
T'l
$Utff
TJ.
7'i
i 1 -
V-l.
?
vi'i . n h
'i rtT
it" T
1 1
1 f.
til Oil
I" '
9M
VHUKTAHLi:S
per kz ABite wIet
..Uhlni
C'f ..11C MUSI'S
ine ii'ifil if rr at H lvri VJ h't
xxrlrliinic W1" lb per dni MS' "s u bit
lynina it ,-rr 'i , .Tix; U II 31
a. 4- C, lb
10
lbs per 1-t 11 7.iI-
per dos lllftSlVi dirk and
GRAIN AND FLOUR
WHEAT. Re e.ptt
xtcak 4U4 IU-'. l-ue
90 519 buh
Marke'
1 11 Ov
I .xaior an. on n 1 1. ti ,4t. oh
Kg tablr, nraljx neadx bit V wto-i
rr bjhl-reBii'x4n c a. ik 8"ie dT'
per l.,ket rtiV M.K "" r ttSxSrl
SII ( potatoes S" i rr bb' v, i
IT1S V.-. 1 TV (III ,.x,iu J,rVX i
-X-. I K WH 2 7 Xx 2 Il-;,V
wei-t 'r- -.- Ict Imv- ,ii f ..
; 10I e (tr
" i ii it
re, -in Mo
. i 'ii t.'t
ti in pet i lb catktt so, (H 60.
bH
x ft
xx ete-ti ani .'iriw"I rut
lot Lb rae SI n . n
tit TUMI.
cr ei
it"biKe oT.,t"
Staadayd Qi! Sleeks
1 Bid and askd prices of Standard
ana nlijidiaris shares loaa ' an- '(u
t fn'!o4 AnTlo-A'(ir xn 1.",?,
Atlantic Reflnmg. &wm Pwrce oi.
is IHalrtst il & Kw Jcrv '
s-tan.lard mi nf tinio. IlSiilf?
Vai u.i'n 1 I'i'iIm
i i
t. 1
)'
1-3
.lV
anl
it t ui'.irrrt
tw. en i v ji. i
h S $ it i
lux -a. ,x a h'
.1 lint
tri--e
- Ill I,
N w