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EVBfflNO LEPqEB-PfllLAP.ELPHiA, TUESDAY SEPFEMgEB 22, 1914
13
i1
PAWLING IS AGAIN
CHOSEN PRESIDENT
: OF M. A. A. A. A. D.
tii i ,1 A f 1
t Last INignts MJinuai
Meeting at Engineers Club
Is Re-elected Leader for
Ensuing Year.
SWARTHMORE TEAM
HAS STARTED TO
WORK IN EARNEST
t M Alcorn, chairman of the Cross
Country Championship Committee of tho
Middle Atlantic Association of the Ama
teur Athletic Union, after last night's
uinual pow-wow of the meeting held at
th Engineers' Club, stated that the Junior
bill unci dale championships would In all
probability be held about Thanksgiving
Ly, He has also planned tho senior
pice to bo held a couplo of weeks later.
j;, announcement will be very lntcrest
mg to the athletics of this section, who
lll be advised to start training at once.
Another matter of Interest that occu
pied the attention of the delegates at
last night's session was the fact that
there is Inadequate facilities for the
proper encouragement of track and field
athletics here. It Is a known fact that
thsre arc few places where the boys
may gather and train. In this great
city there should be plenty of vacant
mots where an up-to-date athletic Held
could be developed Point Breeze course,
md the one at Central Park are tho
only ones where tracK sport may ae pro
moted for open competition. Surely there
It 6mc one who can come to the aid
of the runners and Jumpers and give
them a place to enjoy the social, as well
physical, benefits. At the two parks
named Intoxicating liquors ire sold, and
there was a petition filed last night ask
ing the Registration Committee to refuse
aaanctlon for games held at such places.
Action wis deferred until Urn Incoming
Registration 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
place: Georgo F. Pawling, president;
Fred F. Bauer, vice president; Herman
Meyer, secretary and treasurer, and
Peter P. Carney, handlcappcr.
The Registration Committee is formed
of the following. Herman Meyer, Denny,
Burk, Steele and Sutton. The delegates
to the national meeting In November will
he John R Tilor, Pittsburgh; J. T. Far
rlngton, Reading, and Messrs. Pawling,
Jleyer, Sutton and Bauer. The alternates
are Messrs Carney, Klrkpatrlck, Burke,
Denny. Alcorn and Braden.
The association voted $100 to be sent to
New York as a testimonial to be used
In the erection of a monument to the
memory of .lames E Sullivan, who re
cently died.
The report of Handlcappcr Peter P.
Carney as meet Interesting, and he had
mtny wise words to say He Is of the
opinion that the park owners In Phila
delphia should encourage athletics by put
ting In propor places of training for the
athletes He also thinks that by interest
ing the various fair arsocl-itions of this
State and adjoining ones a greater
itlmulus would be given athletic activity.
Fred A C'ady Is to be the ofllclal handi
cippef of all swimming events, and will
t In direct touch with Pete Carney at
ill times
President PawllnE? fa e.-itrpr to mnra hn
Ifl.ttllncr VPa- tlio mnel cinatcrnl m... in
thojhlstorv of Middle Atlantic athletics,
tnd' urges the athletes and officials to
do their part Officials should report on
time for the games, and the athletes
ehould rend in their blanks early In order
to help the games committee and the
handlcapper
Reports from Pittsburgh, Heading,
Ecranton, Trenton and other places boast
ing rommUMom is- were most pleasing.
. ...avuin innca ktoj i,iuii, iui ttt nun
athletic centre great things have been
accompnsnen
The matter of carding, the baton In
TPlftV MrPa nc nlen rllcueefirl T-liof It
a matter for the national body to con-
smer, and tne local delegates will talte
that tffltla ,,n nl t.A V'a... Vn). ...aa!.,.
Whether the Middle Atlantic Association
i 10 carr tne clean mirilen of registering
the Catholic Amateur Athletic League
athletes is another matter for the parent
organization to determine. The sentl-
mint fit tllA rlAAfTitAC? Intl litnti, il'n a
against the further encouragement of the
C. A. A. L off members who mo not
hustling.
A committee will wait upon the Mayor
and Park Commlsskners In an effort to
Interest the city In a swimming course
from the Falls Bridge down. If the A. A.
u. can secure this privilege the followers
of aquatic sport will enjoy great treats
next ear
Boxing and wrestling among the ama
teurs will up a nutter to occupy the at
tention of a competent committee. There
w a big fiBio ier,., but somehow the
iportsmen have not contilbuted their
share
Dr Cieoree Uraden's gymnastic report
as short, but -sell tilled with good work
jurlng the past vcar notes cf good work
"it jear
i
Though Weather Is Not
Conducive to Best Train
ing Work, Coaches Put
Proteges Through Hard
Paces.
SWAIlTHMOnE, Pa., Sept. 22.-The
first workout of the seasoh was given
the Garnet squad this morning, when
more than 45 candidates reported to
Coaches Gleg and Dr. Mercer. Only light
work was indulged. A scrlmmago will
be 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 the most nilxlety
on tho part of the coaches Is centre, as
a new man will have to be developed
before the first game with Vlllanova,
October 3. Tho material Is accredited by
all the coaches and Captain Ben Clime
as being the best 'to enter college In
many years. Many of the new men are
entering with excellent records which
promise success for the season.
The slogan la to "Beat Pennsylvania"
on October 31 and then on to Haverford
as tho big objective point on November
21. This Is the first claah between these
old Quaker rivals In ten years and
Haverford will be looking for revenge
for tho defeat of 1904.
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 Swarthmore, 9 to 8.
Since Coach Bob Maxwell will havo
four veterans 'from last year to begin
wlth In Pete Hunter, "Jud" Endlcott,
"Pat" McGovern and "Tom" McCabo,
two ends must be developed. Captain
Clime, MacKlssIck and "Porky" Murch
form a nucleus for the back field. These
three men are all excellent kickers, so
that department will be stronger than
usual.
FINANCIAL AND COMMERCIAL SITUATION HOME AND ABROAD
t Roped Arena Notes
In one rf tfc- .... .
I. .,., "' '"" DOUIS ever tten
L r. f,"y' Frank "ghrey. Philadelphia.
ik. . . " e l",n'' of New Vorh- ' t
, .? Lv "how of tha '""""Pla last night At
th,i " the tnUre e'eh'n minutes of
"Mia- ai there a dull moment, an4 the
... heai t0 """ from bell to bell.
Ii. Kr, "'uiy no aciem.6 In the bout,
n Jepended upon their tr.n.h
oulslri,Vn 'r a knockou' all times. It
'on ,h. u hart ,a h"e '" '
u -j ' ,n nnish of the cuntui i ,ha ,.
bout ? :i?n .l.rau- of Xlcetown The
Ke" spurted anV "1. 'J1 rouna. when
had on y2un?i?;?.n- Joh.nn Majo had a
t th"oDeninVi,K.mi.ao,ham ""Ished strong
kelson boted .... Jlmm,. Co"er an,l Johmi)
the Jnd x 'a5t ""ds, with honora even
'wheSbh. .?..? aether easy mark last
"ou'nd's'afvV'1' McK.nnon
ll"'n i"h!,. Vt?u 1"i a'tenint la "come
!ftr 15 ,,?." ?h''h Joh"ny Kllbane on Oc
"on as h. ill iha .he J5 ,n a nne condl-
' onsnt hi u in J" "''i1" an, "at he
Jai"1hiiV,Ubeen- rf',5 Cal";'ni mlldle.e.glu
5a oftr.S I".,?0'? ."'h. Mod work has
oeoilntl ii h i.T a.":?n"" ne. but haa
? MurJav .n," '?k'n . tr'.P Aus-
"tt two lu k,,j w.;., naro aa to travel
McCoortv iK Ti2i?..hJi,"B? nghtera as Kddle
" .laooy to oppose him
- --. yrMmv to...
.3JlW0aramJ.a,..,FS,t,uJ,ar.vspor,,n "n h"
? BprlnJ Ga?(T.n i.Ji' ,he S0' ot Tenth
lM b?y.GV0 ' .', .a"l " a. number
H'UburSh s"s?e .anJ Jim"'
Anions them
P-rr nl
Joe" Phillips
?eininSarl0rlrd, ""tched "Jack"
,hi llnpli Club o?ni. kCo'eraan to meet at
lV'lkjticl.ob",5 Th men are
f rtd llnatarrSff: Jln"'d. and each
"or ot .u. 'H.V rorrelt ith the smnin. r.
fWMrancV This mn.rn" for we'ht and
,ntt U IhtantC?rohwaS W&&AJP l
t"1 ''h r't4-, d's" li'VH", ,KV ?be nth
Mlv4, " oy ,n puarhlng he had re- I
N. E. SOCCER MEM OUT
Big Squad Reported for Instruction
Yesterday Football Men Practice.
Xortheast High School resumed grid
iron practice yesterday afternoon. In
spite of the heat the men were put
through a hard signal practice and
wound up with a 15 minutes' scrim
mage. The coaches have recognized the ne
cessity of developing a capable centre,
and Hcledt Is being drilled especially for
this position. Yesterday "Vic" Schmidt,
former Northeast star and captain of the
Bucknell eleven In 1912, gave Hedelt side
line Instructions In passing and falling
on the bail. Wetzel seems to have won
a permanent place In the backtlcld. King,
a former end at Howard College, Bir
mingham, Ala., reported for the first
time.
The varsity lined up as follows: Ends,
Breilhaupt and Reed; tackles, Rldpath
and Gardner; guards, Mnssey and Brown;
centie. A Whltaker backs, Webb, Hcuer,
Wetzel nnd R Whltaker.
The N'ortheist soccer men reported yes
teiday nnd held the first practlee of the
season. Five veterans and thlrty-Rl new
candidates were on the Held. McComas
was the only man from last j ear's team
who did not repot t.
The following candidates reported:
Line Day, A Schnpps Hlllegass, Fretz,
Stewart, Stulls, Gee, Traphoner, Frlel,
Drlscoll, Kngel, Kimagham, Slater. John
son, Hammer, Grli-com BackHeld
Crltchlow. Bartle, Itennetto, A. Whltaker,
Kupsiec, W. Klopp. Jenkins, McConnell.
BUnkln. Balr, Hnrtlng, Cnrsen, A. Rob
ertson, Mellor, Squire, Stackcy, Schoe
makcr, -Landau.
FAIRMOUNT FIOHTS
At the Fulrmount Athletic Club to
night. K. O. Harry Baker, of Wilming
ton, is scheduled to meet Charlie Collins,
a ilslug young middleweight of Columbia,
Pn., In the wind-up. Both boys have
reputations as knock-out artists and a
Kieut battle should icsult. Young
Fletcher, of Kensington, and Young
Wcrnert, of the same locality, will meet
In the seml-wlndup and the other con
tests' will be between Willie Kline, of the
Forty-seventh Want, and Pat Blddle, of
West Philadelphia; Joe Smith, of tho
P. S. S. Michigan, and Tommy Hogan,
of the Tenth Wind, ind Young Jack
Toland of tho Twi'lfth Ward, nnd Youmt
Gannon, of Southwark.
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 the 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 smalf lots, they naturally are able
to Judge the situation outside the broker
age unices. And, In a general way, they
are reporting existence of a returned con
lldence which they declare Is almost
everywhere apparent.
There has, In fact developed such a.
fairly brisk demand. In a email way, for
various classes of securities, that talk
Is heard among the Investment brokers of
having the committees supervising the
sales of securities again lift the ban so
that trading in largor volume may be 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.
Tho commttteoes, since their organi
zation by the Stock Exchange and by
bond houses dealing in unlisted securities,
have fixed prices as of July 30 as the
basis upon which transfers shall be based.
Salesmen, however, find a demand for
some of the high-grade issues at prices
which are In many Instances In excess
of those which ruled under the depressing
closing markets, This condition, e natu
rally, offers much encouragement to the
supervising commltttees and to brokers
generally. It Is being used as a bull
argument for some action looking to a
reopening of the exchanges.
GOLD' POOL, A FACTOR.
Foreign exchange, that determining
factor which Is Just notv of such great
Importance, still maintains an. easier
tendency and another drop In rates Is
looked for soon. Organization of the
J100.000.000 gold porl 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 tho Inauguration of the new
gold pool should accomplish In an arbi
trary manner what has been a matter
of gradual growth during the laat few
weeks. In brief, the object of the pool
is to provide a means not only of pre
venting advances In sterling exchange
rates, 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,
000,000. This will be deposited at first in
New York, and will be transferred to
Ottawa and pnld over there to the agent
of the Bank of England In such amount
as, In the Judgment of the committee,
will be 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 that the net result will be a
prompt building up of sterling exchange
machinery from the complete breakdown
to which it has been subjected.
The Golfers' Aftermath
One of tho most dlllk-ult daN's work that hts
recently fallen tn the lot of a local golfer was
the lark thai was disposed "f hj Spencer l.
WrlKht Jr. of Aronlmlnk. in the annual invi
tation tournament of the I'hll idelphla Cricket
Club ai 81 .Manln'a last urek
In the first round h was paired with C. B.
Caltert, one of his clubmates, and after bulld
InK up a lead of four hMes slumped lonK
er.oueh lo allow rahert to square the match
and maka another hole necessary. He stic
ceeded In winning the xtra hole and tho
n atch, and doubtless breathed a sigh of relief
when It aa ended
Rut his troubles tre not over, for In tho
afternoon of the same day he ha1 to puj
H H Franclne, the Individual champion of
Philadelphia, and another strenuous contest
vns In store for him At the fourteenth tee
Wrtoht had accumulated a lead of three hole3.
which seemed safe enough ai that stage of the
game, but when the last tee was reached
I'ranclna was only one down. Wright had
onlv to win or halve the last hole In order
to take the match but missed a short pu't
and again had to plas an etra hole He suc
ceeded in taking the extra hole and tha match
and was safe for the day
F S Dlcklng, of Aronlmlnk, Is plavlne
stead) and consistent K"!f these das In his
malra wnn J . Mevens at i aiartin a last
wfek he succumbed to the N'assau plajer onlv
on the last green and at that oul1 have
rrobabb been relumed the winner had h been
ablt to run down a fairly long putt on the
eighteenth green His sieadv Improvement this
searon has marked him as a plaver who muit
at all times be reckoned with.
Pj,encer Jones of Plv mouth, is another of
the jounger s-hool of golfers who will h3ve
t, be taken into account for his work at St
Martin s waa conslsten'lv of hljh class He
defeated l) siKh sterling players as George
V Statiell and Las ton M Schoch. and In
Inn lanei maicu um '' , nun a in. nis
crn'i in 'he final round with Stearns was
one of the best matches of the teison and he
never faltered, though eventually Steams
proved too strong for him
Rv a sirange coincidence I, M Washburn
and C B Webster Jr . met In the nnal round
o' the second slx'een at St Martin's Web
ster had an old scre to paj off as he went
down to defeit before the Merlon plajer In
the Intercollegiate ihimrionshlp a lutle over
a week ago This as their second meeting.
and Webster expected to even up things but
anhburn would n .t be denied and won out,
trough not without considerable difficulty
it was rather gratlfvlng to see Oeorge c.
Thomas carrv off the Governor's CMp In the
Ft Martin s tournament Thomas has had
rather hard iu--k In a number of meets but
this time he sru. k h's gait and maintained
It un'U the end He bad no easy task to beat
H wara wcion w"' " w iiitr
M he rtu'k bravelv t bis guns or rather
bis irons-and was returned the winner by th
narrow margin of ona hols.
FINANCIAL NOTES
Head of one of Philadelphia's large
brokerage homes today received a letter
from a relative In Scotland In which he
was told that employes of one of tho
biggest shipyards on the River 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. W. Clark & Co., was
primarily responsible for the Inaugura
tion of the hound show now being given
In connection with the Bryn Mawr Horse
Show He prizes his collection of beagle
hounds a among the most representa
tive of their type In this country.
According to a wireless dispatch re
ceived In London, gold holdings of the
Imperial Bank of Germany on Septem
ber 13 were l.illS.fnn.OOi) marks, notes m
circulation, 4,013.000,000 mark?; deposits
2,lI.O0n000 marks, bills discounted, l,(M0,I
000.000 marks; Investment 90,000,000 marks.
NOTES OF THE KAIL
Directors of the Texas Corporation of
the Kansns Cltv. Mexico and Orient Hill
road have decided to make application to
the Texas Hallroad Commission for
nuthoilty to Issue ll.tfVftt of bonds on
the division of that line between Alpine
and Glrvln. The Issue will be based on a
vnluatlon of l6,00i pr mile.
Chicago, Burlington and Quincv has put
24 miles of automatic block fllgnnls in
service near Akron, L'ol.
Jlllco Coal and Railroad has been
organized at Chattanooga, Tenn. The
company will build a railroad from Pine
Knot, Kv., southwest to Jelllco. about 18
miles. Construction work will bo started
in October, It Is understood.
Jefferson and Northwestern has under
consideration tho question of hullding a
combined passenger and freight station
at Jefferson, Tex.
Sydney J. Clifford, head bookkeeper and
statistician of the Boston and Maine Ball
road, will leave the employ of that rail
road on October 1, to become accountant
for the Interstate Commerce Commission
PUBLIC UTILITY EARNINGS
INTEMSOROrOH ItAPIO T!tAJ.IT
inn fin
July gross 3.111.171 12,'llt '';
Net after taxes 1.101 tilt 1 111.1H
TEXAS POWRR A.VI I HIHT CO.
August gross I12.DUT 17 i2
Net after taxes JS.020 n nj
Twelve months' gross.,, l.on.si'i :i";4l.
Net after taxes . .Ma l"H SI ;st
FORT WORTH POWER AM LIGHT CO.
August gross . ... 77,l21 20.114
Net after taxes . ... 3fi..125 1,501
Twelve months' gross... Stl Wt 24H7T
Net after taxes .. tvitvc I11.1VI
MT WHITNEY POWER A.VU KLr.CV.tli-
August gross .. . .
Nei afier taxes ..
Twelve months' gross
Net after taxes
HAVANA ELECTRIC RAILWAY,
a.mj 'uvv;it
InM Iecreje
Third week September . 'Ji.lis KnU
From January 1 J.o."5.t Jil'tS
UTILITY COMPANIES
PAYOR REGULATION
BY COMMISSIONS
Nearly Every State Now
Has Such Bodies and
Their Decisions, Generally
Speaking, Inspire Confi-
ience.
:.0 1117 f 5
in on i it, tin
li.ll ILM 111 .01
Slit !"'. W 101
LIOHT
Commission regulation of public utilities
has grown so extensively In the last year
or two that It Is now one of the most
important problems with which the pub
lice service corporations of the country
havo to deal. Virtually every State In
the Union has a regulatory commission
of some sort.
' These commissions and their relation
to Investors and public utility companies
are discussed in an article In the Maga
zine of Wall Street by Arthur St. George
Joyce, financial editor of the Evening)
LEDOEti, In which these facts are em
phasized: "Commission regulation of publlo
utilities has been discussed from many
angles, and In the final analysis the Judg
ment of those who know has almost
universally been that where this regula
tion Is equitably enforced and the reg
ulatory acts are of a kind which In
spire confidence, both from the general
publlo and the utilities, such commis
sions are of material benefit to all 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
these commissions. Supervision by State
and municipal governments seems to be
the order of the day. Government
ownership Is talked of In many sections,
and some municipalities havo 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, and give
recognition to the fact that the corpora
tions as well as 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 and reasonable to both the public
arid 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 State
or municipality, as the case may be,
and the general public. In most of the
States which havo commissions, the one
big advantage to the Investing public
which stands out prominently, is the
power of supervision which these com
missions have over the Issuance of
securities by the public service com
paniesa 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 market
a security issue of any sort, to submit
their accounts to Investigation bv the
commissioners. The lattPr go carefully
imu iii iinuticiai condition or tne com
pany to learn If the Issue 13 warranted
and, if so, to see that there is sulllcient
security behind the Issue to guarantee
protection to Investors who put their
money Into the new bonds or notes, or
whatever form of sccurlt.v may be dp
cided upon by the companies. In this
way the State virtually indorses Hip
securities so Issued. The commission. If
conditions warrant, puts lis approval on
the securities and when they are taken
Into the open market and traded In, thev
carry not only tho Indorsement of a
reputable utilities company, but also the
approval of the Commonwealth In which
the corporation Is chartered. It can be
seen at a glance what a benefit Is the
operation of such laws, to the public and
to the companies.
issi'ancu of sucrniTius.
"Bonds having behind them the Indorse
ment of a leputable comml.Mou inspire
public confidence to n marked degieo and
nre more easily disposed of because of
this Increased security. Such super
vision by State commissioners piecluilis
also the possibility of a corporation not
financially sound putting Into the open
mnrket nn Issue of securities which
might icsult In financial loss to in
vestors. "Most of the commissions hive slven
ample evidence that thev n-allze public
utilities are a natural monopo!) , tli-ac
competition, with Its lesultaut rate wurs.
and In the end Inevitable combination
usually resulting In over-capitalization, Is
far less satisfactory from everj stand
point than the proper regulation of one
cempanj protected during its growth.
For this reason it has ben the policy
in virtually every ease where commis.
slons have Jurisdiction, to discourage th
granting of franchises to competing com
panies The final result Is the protection
of public utllitj securities, and at the
same time the guarantee of fair rates,
and good tervice to the public "
LIFE INSURANCE
COURSES IN HIGHER
SCHOOLS IS URGED
U. of P. Expert Tells Na
tional Undcrwriers' Asso
ciation of Need for Sys
tematic Educational Work
in Senior Year.
Establishment of life Insurance courses
In the schools, colleges and universities
of the country Is advocated by Dr. S. S.
Muebner, professor of insurance and com
merce In the Wharton School of the
University of Pennsylvania. Dr. Huebner
is now engaged In framing a life Insur
ance text book for the National Associa
tion of Life Underwriters, and It Is to
the members of this Influential InBuranca
organization' that he appeals to have life
insurance education made a feature ot
tho curriculum of the higher schools.
"Llfo Insurance, so vitally affecting
nearly every man and woman In the com
munity and so Intimately related to the
welfare of the maases," Dr. Huebner
says, addressing members of the asso
ciation, "should find some place In tho
curriculum of our high schools, preferably
In the senior year.
"Llfo Insurance education In colleges
and universities, however, should also bo
emphasized by all means, since, to an
Increasing extent, college graduates be
come leaders In the community and in
themselves arc educational forces In their
respective localities."
To present the subject adequately and
tn accordance with the needs of different
classes of students. Dr. Huebner sug
gests the following program, although he
says ho appreciates that its full adoption
must bo limited to the largest Institu
tions and 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 course
In life Insurance adapted to the nepds of
those who contend to become solicitors
and otherwise become connected with
various departments of the business. Tho
Instruction in this course should be teach
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.
Philadelphia has been selected as the
permanent headquarters of the new In
surance Federation of Pennsylvania, 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. He was marooned
In Switzerland for about a week after
the outbreak of hostilities.
The National Association of Casualty
and Surety Agents Is holding Its second
annual convention at White Sulphur
Springs, W. Va., today.
POOR'S MANUAL FOR 1914
Complete Record, in Three Volumes,
Covers Corporate Investment Field.
Poor's Manual for 1914,. In three volumes,
contains 6fiCl pages of text, covering the
entire field of corporate Investment In
America. Statements are given for
virtually every company In which there
Is public Interest.
iho current edition contains many new
companies. Stock and bond Issues have
been amplified and Information Is given,
wherever possible, showing whether or
not bond interest Is payable without de
duction of the normal Fnlted States In
come tax. Late Income accounts and
balance sheets are Riven and In many
oases are In. comparative form.
The General Inde of the Manual of
Public rtilltles and the Manual of In
dustrials contains the names of all
merged companies, with references to
ine companies Into which they have
passed. In the Manual of Railroads this
Information Is given In the merged list
DIVIDEND IS DEFERRED
Directors of the Dominion Iron and
Sleel Compan have decided to defer
the usui! .semi-annual dividend The
last dividend paid was 3S per cent., on
April 1.
Intorliike Steamship Company has re
duced its dl Idend from S per cent, to
a fi per cent, anntml bnsls by declaring
a quarlerlj dividend of Pj per cent .
p.i.vnble October 1, to stock of record
September i)
WAR RISK INSURANCE
OBTAINABLE HERE BY
WAY OF WASHINGTON
Collector of Port Berry
Wires Applications to
Treasury Department for
Acceptances and Rates.
Collector of the Port Berry has been
authorized by the Treasury Department
to receive applications from steamship
agents, owners and shippers for war rlBk
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 separate
branch of the Bureau of War Hlsk In
surance here.
Upon receipt of application for Insur
ance, the Collector will wlro the nam"
of the vessel, the cargo carried, the
amount of tnsurano 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 acceptable to the applicant, an ap
plication shall be. made In duplicate upon
a prescribed document, Tho original Is
to be signed by the applicant or his duly
authorized representative and given to
the Collector, who In turn will sign the
copy and give It to the applicant. The
Collector will send the original to Wash
ington, where the policy shall be made
out and sent to him for delivery to the
applicant, who, upon Its receipt, surren
ders the copy of the application to the
Collector. All checks made In payment
of premiums must be certified and made
payable to the Treasurer of the United
States. Other regulations follow:
The Collector shall satisfy himself be
fore submitting any war risk that the
applicant has marine Insurance in an
Insurance company or companies on the
cargo on which he wishes war risk in
surance. The nmount insured against war risk
cannot. In any circumstances, exceed the
amount Insured against marine risks. If
the applicant Is unable to state definitely
the amount to be Insured he shall declare
a provisional amount, which may not bo
Increased, but which may be reduced,
upon receipt of definite advice, to an
amount not less than the total amount
Insured under marine policies. Premiums
shall be paid on this provisional amount,
and If the amount is reduced when final
particulars are known, the excess of such
premium will bo returned to the assured
by the Treasury Department
The rate of premium charged will be
made from day to day by the Bureau of
War Risk Insurance, and may bo 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 bound by any errors made In the
calculation of the premium or in filling
In the form. Should error be subsequently
discovered a readjustment must be made.
Applications for Insurance on vessels
under the American flng will be accepted
for periods of 90 davs, or for voyages
commencing on and after the date hereof
The only risks that will be covered are
those Included In the form of policy to be
Issued by the Bureau of War Risks Insur
ance. Application for vesse policies must be
made direct to the Bureau of War Risk
Insurance, Treasury Department, Wash
ington. D C Policies will be issued in
Washington only, and no agent or repre
sentative of tho Government may bind
or otherwise accept Insurance unless spe
cially authorized by th Bureau at Wash
ington. SWISS FINANCES FIRM,
WAR LOAN OVERSUBSCRIBED
FLAGLER'S DREAM TO
UNITE CUBA WITH U.S.
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
Henry M. Flagler's dream of uniting
the United Statei with Cuba by rail
will be taken this afternoon with the
launching of a. car float at the yards
of the William Cramp A Sons Ship and
Engine Building Company. The float
will upon Its completion be the largest
craft of Its typo afloat. It will ply be
tween Key West, Fla., and Havana,
Cuba.
Miss Florence Marie Beckwlth, daugh
ter of J. P. Beckwlth, vlco president of
the Florida East Coast Railroad Com
pany, Is making a special trip hero
from St. Augustine, Fla., to perform tha
part of sponsor for the gigantic car
float. She will name 'it for the lata
Henry M. Flagler, who used his millions
in plnnnlng 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 and shipbuilding plants aro ex
pected to be present. A luncheon will
follow the launch.
The Henry M. Flagler will have a car
rying capacity of 30 of the largest freight
cars loaded. The triple expansion, re
ciprocating engines, capable of develop
ing 1350 horsepower, will carry the craft
from Key West to Havana, a distance of
90 miles, In eight hours This will re
duce the present running time by several
hours. It Is expected in the near futurs
the craft will carry passenger cars, en
abling travelers to make the entlra dis
tance between New York and Havana by
rail.
Extra precaution has been taken to in
sure the safety of the cars which will
be carried on the main deck on four
tracks, while the vessel Is at sea.
, A warlike asptct Is given the craft
i arrangements to mount rapid-tire and
small calibre batteries In order to
make It easy to fit her out as a transport
or supply vessel in case of necessity.
Besides Inaugurating a new freight ser
vice between Cuba and this country, tha
craft Is expected to increase the com
merce between the two countries Busl
i ness mn of Cuba, are greatly interested In
the project and have promised to give It
their support.
The hull of the float is built of steel
and conforms with all of the regulations
demanded In a vessel of its type The
general dimensions are:
L'ngth over all
Length blwpn prpmltcularB .
Beam, molded
Epth
Draflth of deck
Srel, loadd with 2.",i0 ton? dad
weiKht
.IVi tut
3.V. teet
57 fK"t
22 Uei
.IT feet
12 knots
Government Calls Exaggerated Re
ports Attacking Country's Credit.
WASHINGTON, Sept. 22. Reports of
financial troubles ot the ''wiss Govern
ment were declared to be exaggerated in
a cable from Berne to the Swis legation
today.
"Conditions In Switzerland are quiet
nnd the prices of foodstuffs are moder
ate," a statement from the Swiss lega
tion today read.
"The army is still at the frontier. A
war loan in Switzerland recently was
largely oversubscribed.
"In the last few dnys cable reports
were published n the American press
which are apt to Injure the credit of
Switzerland and give an entirely false
Impression of the prevailing situation
there."
BAR SILVER
Commercial bar silver was nuote.l In
New York today at 52. cents, on ndvnnre
RAILROAD NEVER STARTED
Stockholders Seek Dissolution of Co.
Incorported at 250, OOO.
TRENTON, Sept. 22. Articles of disso
lution were filed with the Secretary of
State today by stockholders of the Penn
sylvania, Ickawanna and Erie Connect
ing Railroad Company. The company
was Incorporated in 1910, with a capital
stock of t2.io.nofi. it was the purpose of
the concern to construct and operate a.
railroad In Huneon Countv Accord
ing to the dissolution certificates, tho
company has not commenced building tha
road and has no Indebtedness
James E. Pjle was the agent, and tha
Incorporators are as follows: Wll'iarn,
Braidwood, Franklvn Doe, Henry Mc
Jiath, Henry Roeber. Albert Aston,
Brooklyn; W T. Hamton, New York city;
T. F. Chauncy.
WHEAT TRADING SLOW
WITH MARKET EASIER
Receipts Large at Leading Centres,
Despite Gloomy Reports.
CHICAGO. Sept. 22. Trade in what
was plow today and the market easy.
There were few buying orders Receipt
were large at the leading centres. In
cluding lOJS oars at Minneapolis and Du
luth. against ?s2 cars a vear ago; 1273
oars at Winnipeg, against 1127 cars a
of it, cents. Bar sliver in London was I jf.ar ago. and M cars at Chicago, against
up j a to .ii, d. I t(a cars n Jerir aBO, The easier tone
PHILADELPHIA MARKETS
VI ... -, - .
,.... r'C.orl . inqiitrv rair ,'nr 1 its, in export
""'"' -" - rn Bin,! and Seitemiii tl n
'nr 1 its,
J SeDtHln
t I If? ISO
No.
1)1 10 Vo 2 red Wenlein
Aortnern Duluth .51 svii t.
hor1?1" KexeipU, jono l.n.h Trade quiet
but priirs aieadj with m -derate offerings! Var
DIVIDENDS DECLARED
Mannln. Maxwell & Moore. Inc.. regular
quarterly h per cent . pavable September
to dock of record of that date
Continental Gas and Eleclrtc Cerporatton
regular quanerl llj rer cent on preferred
and H of 1 per cent on common payable Oc
tottr 1 to itock of record September 22.
Interlake Steamship Company quarterly l
per eent , payable October 1 to atock of rec
ord September S3.
SUGAR PRICES CUT
Arbuckle Brothers have reduced the
price gf refined sugar H cent a pound to
6.T5 cents to meet quotations made by
the Federal Sugar Refining Company on
Monday The American Sugar Refining
Company B. H Howell, Son & Co and
the Warner Sugar Refining Company
continue to quote 7.15 cents a pound.
RATE CHARGE SANCTIONED
Utilities Company Allowed to Make
Readjustment of Original Schedule.
TRENTON. Sept 22 -The Board of
Public I'tllity Commissioners has olloweij
an order for a readiustmrnt uf th i,es
of the New Egvpt Light. Heat. Power
and Water .Wemblv. i.n the Kruiini) that
the concern is si ill in a nne ot develop,
ment The original schedule was m hnn
teen placed in effect otl May 1. but it wab
postponed indefinitely after tho Co nmis
sion permitted a hearing on the justice,
of the rates The Commission now mtke3
a slight reduction from tne original
amount-
The schedule, as oriqin.illv died bv the
company, provided for a charge of 20
cents per klllovvatt hour, with a dis
count of 10 per cent for prompt p.v ment
The board regulated the rates acnrdlng
to the amount of electricity consumed-
ABROGATE GRAIN CONTRACTS
NEW YORK. scpt .'2 -American gram
exporters have obtained the consent of
German buvers to the abrogation of con
tracts in consideration of payment to
German brokers of the 1 per cent com.
mtssiin that wou'.d have been due them
if the contract had been earned out
Thtte developments arc the outcome of
the transportation difficulties in rega.d to
ocean tratne. resulting from the European
war.
PROVISIONS
Market unlet tnd lihr.ui Imp rl.ini chance.
city beef, In sets, sinnkej anl air-dtled lid
!2e. , Western tet. In sets, smoked. ftlQKSe ,
citv beef, knuckles and tenders, smoked and
air dried. SJfiHi . Western beef knuckles and
tenders, smoked .13(1 He beef hams ttu-l ic .
pork, famtlv eVHtu;?. Hams S. V cured
leose, J.V3li4c . dn sklnnel. loose, l.,u
1 HI .in .In imrilin,! IhiillL hsiAb hne I " .- " 4
wked. cli cured as t. brand and avera.-e ' m, ,7 -imJn'i Ji1,'" " x S'ltUBu
Mill!, hams, snaked. Western cured h nioramXIf .", .1 "',rUVlh, "
IOC. do. boiled b.neless ft;c. picnic riffl'" i,,?', V-, r S?fS,-',T.
shoulders. S I cured. looe. lM12i,c do ti..T..' -M'? 'r r,en' - M WOS 78
sh-iked UttUV bellies In pickle, accord- ,? . i "".V, j"(l7? ? s ''I',:'0' i1 '
Inc tn avenue. loise. IrttJiSc breakfast La. i Ji.,. ''.A'?.."10?? 7 'l '.?? w . iT'M first
.... .- " . ... , atHA n i tit, r,ii.ni r. ".wa .j.
na i.n. .f.'KS , . . . . . . , . ..
,-....., t ,.'w'i in rie nr.in IS
i ii ;i, i' """. " i nmn io s vel
I. vv t,sijfj,,e steamer 'e, n SSiic
I OATS.Ft,,.flnl 111DE1 K..EI. ii-1
stail ih a fair inquliv for l..ca' coniumi
tloti and export No ; while svfiw,, sin I
ar I white. :ui..w..v vrt i ,.,.,-. ?,..
con n to nrind dill overage citv cured j?i patent i iviso. f-nv .,! ii-, -V n i.oni
i'le breakfast bo n Western curel rJtf'Jtc . I 'cfA' n''luy i. ,Vi VJrU . ? . iSo'HSli
lard Western rertnd tierces, ll-jfjll'-.c . d ... do Tiauiar JmHm & ' 2L ,,'?J ,f!J
do do ml U',fiUV. Urf pure c, do sirolih. Ift'Tvt Le-.-'. , 'ix !i.I.M,!l
k'Ule rendered in t'erces. llVMVc lard iivy y, n ,,, . . 7" ',r'"1
pure cltj. kettle, rendered tn tubs. ni.nU'c ,,J,U uVl0l"snf.0tf. .'"" ' ." values
, .,-,...., ...r, o' -., . -, in i it, m woo,
srcAit
irt
ItKHNKH Trade nulet and prices
channel Manlail jrmiia',.! 7 .t nne
pranuUted. 7 -.V now ered 7 IV cmfe""
tinners' A. 7 13c . soft grades, tl iQ 7.03o
dairy PKonucrs
riltir.MR. Lirjertngs light and the market
tlrm I'm la air!) j.t. Neu tork mi.
cream ibvlie. li-'ji . !" i" 'air to rood,
IVantiic . do rt skim ufjltc
POl'LTRY
l.l K. Pull and utthout important chanee.
rU I7i l. it n Here 'll'iil.c . mns
cn.cUns line .arcs J,7.lSi . do intdlum
lien 1 Villi- dui-ku. oil. llu He . do,
strlBK l-ini'-t . Kuineoj. rer ur. young
uelfhuisr 2 lb and over apiece, ii , do. '
uelchmc t!.li 'A UL'iece !i?idV . At .
"..T . t .."- - ..." . .a . -
i . uie e. T-- o u .-asc . t igcors
market ftrro on fancy ,
tfc-manl tot thiiti i
fi llv ei'ial i the offerings Freth-Villvd foals.
f'er to eeieviri rmi i c -ancj ueicn
ni ISSiS lbs a .leu 20,v nels-hmg t Its
apiece Jfli . wenhlni i3 lbs aplo,6 nstsc
veighlng 1 lbs and under apiece W' . lj
rooiters drv-pickel I1t..c . broiling chickens
r.iarbj eihinj. lUtiS :bs orle e liaic
,"o rair to god ItliflSc chickens Western
-t'.-Sl I"- anl over apiece 10c do do Ut.fi
'. lbs apiece 16S17C brotllne chickens. West
ern welching mS2 lbs, lTlc do fatr t .
ccod isSliV qual? per li white nelch
Ina 1181.! lbs per ii It r-fft v white
wcijhini 0S10 its per dm $S 71 white
weighing S Its rer d z 2 JIWI V) do di
7 :bs per 4ii $1 Tfi? d J, flaai. lbs
it io
FRESH FRUITS
peai bes and i ears- .inlet and lower
ti",.M""0''1 imporian- rhap,. Anides nee
ather jfod .mine varieties 1 7MS ivi. b
' 'hr
iiiSZn ' . aPP' I'eiaware, per hamnr isn-Mnw
ni3,vi, Lemons, rer bo, $,kji' "VineS?.' "
'..'''- ' ."" men II -"..jS '5 riorid. it 'nrn i
.f 'J - " ' ' I", rer 7S, I' Mb r
it. ioa. tranbernes Jersej per i-raie , Mn
"0t. V r .UI 1, . P, irl. v,r- . ."1. 3A ' Sci.l.
n.
tveiehtn
icr l air
Ill(Kc.El The market firm
deslratle sue! m k lemanl loi
.mtir
btsfc,el. 99.0e do. do ,- er. t.vNi f5iiM
bMkti JMS7.'e do d p ":.' IV"V , "lird "
ft . ', h- lnrvantH ,er basket- ''liMn
Jarge while or eivw vwtv medium Sa Jtibs .
'? lea it Ierf h'te. iter v.het Januairv
do e . per Vbasket. 16c , -
"f"i
VlPFier . . .
January . .
was In the face of reports of ready ab
sorption abroad, continued rold. wet
weather in Kurope and export sales In
the last 21 hours of about l.oon.wi bushels
at all points, it was apparent that shoru
were pruty well covered.
Porn was quiet and asy, in sympa
thy with wheat The market at Buenos
Aires was under piessure on better
weather in Argentina and larger ar
rivals The Danube shipped SSl.ors)
bushels of corn to the I.'nlted Kingdom,
nnd North Africa nearly SLW.fWi bushels.
The receipts hre today were 116 cars
The visible supply in the Vnlted States
is 6,Bifi bushels, an increase of K0.ft"fl
bushels for the week There werd
rumors of export tales, though they
have not been confirmed
Theri was little interest In oats atM
prices wprt easier Tho offerings came
fiom scattered sources The receipts
here today wore 3U cars The vislbl"
bupply in the I'nited States U 2i m ')
rushes, art increase of l.n13.w bushoU
for the week, Further salos for expoit
have bean reported.
Leading futures ranged a follows
,. Yetterlv s
W ht - Objji jici, Low , i
1 K", 1 '. i
j io, ti : ,
7'f,
r?'. n i 'o
7's '7,',
Mk '!
.vis vin-i'i
nv delivery) -
T1
ft
"8
Uf
71
top
t
i
4n
w 1
AViVi ,C 2""wa7."V',,.aoB' !
write No t i61- do Ko ? via! .
v;-r ,c(tivai t7' t ware. aw York lfr
zrS'J !'" ; 'ar8 uthern n,T. fctpteasjut .. it H
I sn r v; t' TOi.-e ao . ioncoj-,1 Mr . fSUt !-
1 ,L-.r,e : r Plwma ler i-lb ba55 'Prt Akd
a. 'II ' 1BI imikl" H n VAeiMa.l a
8 It
Hl
SB4
,
!1 i
-10 -7
10 7J
.ri.v r,.. 10,1 11S w,
A'EUKTABLliS
c-uii9V 4" oaiin iu. an l 4k tthr
-IrinKfln1.i m. rt. ss.K- 1
?.tacln.r4 Oil Sta!s
B14 aod asked rw? of Standard o,:
nsui Hiinuntatioti tnaAJ tn4a ai-a .mt.i
vecetabies tenerallv niit iui, T.,.?'"' ' - e T71TZ" . ".""." .7T7 "...'-.;.
per buh.l-Waosvlvanla choui ft .Jv "'dT, f.i . n - . ",2,22! " "V 'f
t.r to sojI --(Miol white iy.i i i:.' Atlaatic RiliB. t. PitlC Oil U.H
per baske- H'81V sweet rtat-.et ' EaJte.n ' 1- Trairte On & New Irv 1!W3.
... tv i-V UUi .... 4I , lJ Mt T.
$1 2J81 Sil dirk and Xo
GRAI AND FLOUR
9! ufA' rMt.itr V
Jl 732 No T-- nil
BSii i
Hi
rer tbl -o i
II 1TR t.'I.i
bo.-,"i-n- i iron;?! n a AVfeiY'
sweats Jer per mh- jovi- 0nl nJ
. 5.c '. is . ".,. i i i - a; e choice nr
tag el n ns rrt-1 4 ti r r 1, n
c-nest' 1 er n im
l 0 Mush
Stindard nil ot nhio,
Vai uum i I !M'?(K-.
, lOiVlb bae Jl
w. ? .n i ,-.,.1-. .
vviir-.-vv. Kecelpts 88.S19 bush Market M' rrl r X Y ntuh
wean ana lA lver in sjrnfi.n, uo tui. roms per -lb bajket, 5ft. gjl bO.
It i unietft . 1 ih it V f
tw- en ni jn I " - 1 - 1
V 11 K 8 $' -o ' v 1
Tht i. an w ai? h A ii h-j
nr,iei atil
S -a