EVENING LflP&EB-PHILADELPHIA, WEDNESDAY, OCTOBER 14, 1914,
13 "a
FINANCIAL AND COMMERCIAL SITUATION AT HOME AND ABROAD-MARKET REPORTS
MONEY MARKET IS
EASIER NOW THAN
FOR MONTHS PAST
jCall Loans Drop From 8 to
6 Per Cent. Outlook
Continues Daily to Show
Improvement.
Financial markets aro again Bhowlng a
disposition to recover quickly from de
pressing Influence, and today thcro was
little trace of the feeling of despondency
which had liccn created by tlio news of
oggrcsslvo action by tho Oonnan arinlea.
The Now York city bond issues were
again In fairly good demand, with soles
of the three-year bonds at 15. Itelch
tnarks were again In supply at conces
sions, yielding from 93 to 92Vi, and money
was easier to obtain than at any tlmo
Blnce July SO. . ,
Many renewals wore mado at 6 per cent,
and a number of banks have voluntarfly
reducod rates on Btandlng call loans from
B por cent, to 6 por cent. Time loans
can bo obtained at 7 per cent. In lots of
$50,000 and $100,000, but all tho new bor
rowing Is for the purpose of paying or
reducing maturities of loans past ma
turity. Handlers of money report con
siderable shifting of loami botwoon tho
various banks and trust companies.
Kaoh day that passes Is now recording
tho elimination of obstacles to a reopening
of tho Stock Exchange, but tho various
rommlttecs contlnuo to adhere to tho
policy of leaning backward and depreclato
any agitation of tho question of resump
tion of open tmdlng.
BROKERS TIIADE OPENLY.
This policy was followed in tho ruling
on tho application to permit trading on
the Broad street curb, which curb
brokers thought was malo imperatlvo
becauso of tho opening of the Boston curb
market today. Tho committee modlflod
Its rulos so as to permit private trading,
but prohibited public reports of trans
actions or quotations.
The curb brokers broke through tho
bounds, however, and havo been openly
bidding and offering stocks with public
transactions In United Cigar Stores new
stock at 8, Itlker-IIegeman at "hi. United
Profit-sharing nt 8'5 and Nlplsslng at 6.
There was also open negotiation for
Standard Oil Issues and a aemt-publlc
market exists In tlioso shares.
A better volume of business was trans
acted in both listed and unlisted bonds,
with many of the listed Issues selling
around a 5 por cent, basis.
TRANSACTIONS A"RE SJIALiLER.
Few transactions were made In listed
stocks In tho trading group outside of
the New York Stock Exchange, and those
were generally made at further declines.
Thoso concerned in tho larger matters
Influencing tho Unnncial situation nro
matching details of trade movements
closely and bcllovo that tho statements
of Imports and exports to bo Issued at
tho end of tho month will havo a di
rect bearing on tho subject of restora
tion of business to normal conditions on
a larger scale. So far tho committee
representing the exchango gold pool has
made no statements cither of prices or
transactions In foreign exchange, and tho
Impression prevails In foreign exchango
circles that tho pool has yet had Httlo
infiuenco on tho situation.
BANKS HERE WILL SHIP
$2,000,000 TO GOLD POOL
Goes Out in Response to Call From
Chairman of Fund.
In response to tho call of Chairman A.
H. Wlggln, of tho Gold Fund Committee,
for tho shipment of Philadelphia's sub
scription of 12,000,000 to tho $100,000,000 gold
pool, which was received this morning
by the Philadelphia Clearing House Asso
ciation, the money will bo shipped lato
this afternoon.
Tho $2,000,000 represents 25 per cent, of
tho amount this city agreed to subscribe
to tho pool, and has been In tho vaults
of tho Clearing House slnco tho latter
part of last wcok.
This city's first contribution wilt prob
ably bo mado up In gold certificates and
will bo tlmnsfcrred direct to the Now
York Subtreasury, whore It will bo con
verted Into gold coin, later being Bhlpped
to the Bank of England's branch In Ot
tawa, Canada, and foreign exchange bills
issued against it by tho Gold Fund Committee.
URGES BANKERS TO
TAKE MORE ACTIVE
PART IN POLITICS
National Association Head
Would Thus Combat Con
gressional Interference and
"Bureaucratic Restriction."
WILL APPEAL COURT
DECISION LEGALIZING
STEAMSHIP POWER
Government Will Contest
Ruling Sustaining North
Atlantic Rate-making
Agreement.
Thero was a slight let-up In tho business
done in stocks and bonds by local houses
today, as compared with tho compara-
, tlvoly brisk business yesterday. Inqulr-
Iles are still coming In, but tho actual
Bales aro reported to bo less.
Pennsylvania convertible SVis. which
Isold yestcrdny for D77. wcro offered to-
jday nt 98. For Philadelphia Electric 2114
JwaB bid, tho same prlco yesterday. Penn
sylvania sold for 52.
Inquiries aro principally for short term
JBocurltlcs, equipment trusts and good
railroad bonds, as has been the caso for
frome tlmo past. One up-town house hnd
inquiries for American Tobacco 6 per
ent scrip, duo September. 1915. Houses
regard this as a very Kood investment, as
the script Is soiling around 99, yielding
about Vi, and there 13 only $2,000,000 Is-
ued, which was In lieu of tho last nuar-
erly dividend disbursement In cash.
Tho action of tho special committee of
no New York Stock Exchango In allow-
ng sales through It of guaranteed stocks
It moderate concessions from the closing
Bn July SO was favorably commented on
py local uroKors. It is generally exnected
lhat the local exchango committee will
take similar action. If this Is dnnn it
fvlll brouden out business hero vorv
nuch. Under a ruling of this kind suph
htocks as Catawissa. Northern Pennavl.
kanla and Mlnehlll and Schuylkill Haven,
uarumeea Dy tho Heading, and United
few Jersey Railroad and Northern fVn.
tral, guaranteed by tho Pennsvlvnnin
would como In for local trading, as voll
ns wouia many other stocks dealt in r.
jtenslvely locally.
Shipping Interests horo considor tho de
cision of tho United States District
Court In Now York yesterday sustain
ing steamship combines and approving
their methods of rate-fixing and pool
divisions ono of tho most far-reaching
over announced slnco there began prose
cutions under tho Sherman anti-trust
law.
They oeo a closo relation between this
decision and thoso of tho United States
Supremo Court In tho famous Standard
Oil and Tobacco Trust cases, wlion It
wan declared that thoso combinations
had been guilty of a restraint of trade,
but that bucIi rcstj-alnt was "reasonable."
In fact, theso cases wore held up by the
court yesterday as tho ones on which tho
steamship comblno decision was based.
Dcsplto tho known position of tho
United States Supremo Court in tho mat
ter of "reasonable restraint," It was an
nounced today that tho Attorney Gen
oral's department, which conducted tho
steamship dissolution caso, would appeal
tho decision to tho highest court for a
final ruling.
WHAT THE DECISION COVERS.
Tho District Court, In Its decision, em
phasized theso particular points:
Thoro i3 nothing illegal about steam
ship pools and rata agreements.
North Atlantic Passenger Conference
rato fixing and traffic allotment to mem
bers of steamship combine nre held to bo
"reosonablo restraint of trade" and legal
under tho Sherman law.
Operation of "fighting ships" to keep
out competitors ruled to bo obnoxious
to and prohibited by tho law.
Government losses in contention that
steamship comblno Isan illegal monopoly.
Court finds rates charged wero not ex
cessive or exorbitant
AgreemcntH approved as affording weap
on for stability and bettor public servico
and avoiding disastrous rato wars.
Decision based on Supremo Court's 'In
terpretation of rulo of reason in Stand
ard Oil and Tobacco Trust cases.
DEFENDANTS IN THE SUIT.
Tho dissolution suit, which was filed by
Henry A. AVlsc, then Federal District At
torney, on January 4, ion, named as de
fendants with tho Hamburg-American,
Allan and Canadian Pacific Railway Itnes,
tho International Mercantile Marino
(American Lino): International Naviga
tion Company, Limited (American Line);
tho Anchor Lino (Henderson Brothers),
Limited; the Cunard Steamship Com
pany, Limited; British and North At
lantic Steam Navigation Company,
Limited (Dominion Line): Holland-America
Line; North German Lloyd Line; Red
Star Line; Russian East Asiatic Steam
ship Company. Limited (Russian-American
Line); Oceanic Steam Navigation
Company, Limited (White Star Lino);
Bryca J. Allan. Philip A. S. Franklin,
John Lee, William Coverloy, Charles P,
Summer, Emll L. Boas, Adrian Gips,
Gustav IT. Schwab, Gustav II. Schwab,
Jr.; Herman C. von Post, Alexander E.
Johnson and Max Strauss.
But
THE LONDON MARKET
7ar News Considered Good.
Trading Is Small.
Trading was small In T.onrtnn tnjv
f tendance was light and operations wore
jraincieu. juemuera of the Stock Ex
I change made a new request to tho com
mittee to open sottllng rooms for unotll.
vM business. Nows from Belgium and
.'tuuto was consuered good.
The New Yoik Stock Exchango Com
mittee b aotlon with regard to listed guar
anteed stocks was welcomed. Americans
were inaatlva, however. Consols wero
quoted at 6SH. Kaffirs showed a steadier
tone. The rebellion in South Africa was
regarded as serious. A call for 750.000
Russian Railway loan was payable today.
Money and bill rates wero weak, but unchanged.
FINANCIAL BRIEFS
"There Is still some gold In Philadel
phia," humorously commented the rashler
of one of the largest of the city's na
tional banks as he picked up u handful
or double-eagles from his desk by way of
Illustrating that Europe hid not taken all
of the yellow metal from this country.
James B. Forgan has been elected by
the Federal Reserve Bank of Chicago to
represent that district on the Federal
advisory council. Mr. Forgan headed the
committee which went to Washington and
made the suggestion to the Federal Re
serve Board of the $100,000,000 gold pool.
There was engaged at the New York
Assay omce $100,000 In gold bars for ship
ment to Canada,
Itctlrlng directors wero elected at the
annual meeting of the stockholders of
the Market Street Title and Trust Company,
Banks gained from the New York Sub
treasury yesterday eMS.OOQ and since Frl-
nj ftttiireu j,iA)I,UW.
ue biandard Oil Company of New
tors lj'a reduced tl nriiw. nt .mn nil
i. wn vi pomu,
GOVERNMENT'S CONTENTIONS.
Tho Government's petition, after telling
of tho stifling of competition by tho uso
of "fighting ships" in tho North Atlantlo
Bteorage passenger trafllc, assorted that
during the existence of tho alleged unlaw
ful combination nnd conspiracy the de
fendants "arbitrarily fixed their rates for
stcerago transportation In order to bring
about an arbitrary division of traffic and
to maintain rates at that artificial level
at which sold traffic may be bo monopo
lized and mado to yield the highest net
return to them."
The Government In Its complaint also
asserted that at tho tlmo of the suit up
wards of 90 per cent, of tho total steerage
passenger trafllc between Europe and
North America was carried by ships be
longing to tho defendants, and upwnrds of
75 per cent, of the steerage passenger
traffic was regulated, limited and re
strained by means of "agreement AA"
and supplementary contracts.
RICHMOND, Vn., Oct. 14,-Artlrur
Reynolds, president of tho American
Bankers' Association, delivered a warn
ing to bankers and business men of tho
country In hie speech before the conven
tion of tho association hero today. Ho
called upon them to rise to defend them
selves from sinister legislative tendencies.
Ho also pointed out certain dangers In
tho new Federal Reserve System.
Although thero won scarcely a refer
ence to the effect of tho war upon busi
ness and banking, thoro was a most
pessimistic note In Mr. Reynolds' remarks.
Many saw a roforenco to President Wil
son in his statomont that organized effort
by business men to modify somo of tho
drnstla loglslatlvo moasuro proposed has
been openly referred to aa "conspiracy to
Influence legislation."
Mj Roynoldn Bald that lawmakers havo
failed to recognize tho momentous world
changes, and aro Becking to turn bock
the tldo of Industrial progress by repress
ing tho organizations which tho evolu
tion of tho new conditions require
Public opinion when properly Informed,
ho continued, will not tolerate tho handi
caps this country la receiving In competi
tion with tho other nations of tho earth.
URGES INDIVIDUAL FIGHT.
"Tho tlmo has come when wo must
take a more active part In tho practical
politics of the day, for tho banker and
business man to wield that influence In
our Government to which they aro en
titled must mako moro effoctlvo uso of
their citizenship In tho future," ho said.
"Hnrotoforo we havo contented our
selves by forwarding or adopting resolu
tions; now wo must resort to Individual
effort and must ourselves tnko part In
tho work Instead of relying solely upon
the Chamber of Commerce, tho local
Board of Trado or tho State Bankers'
Association.
"Thoso organizations havo dolno welt
and from their roprcscntatlvo character
are Justly entitled to bo heard; but euch
work, to be effective, must bo supple
mented at homo .by tho citizen, tho man
from wham tho lawmaker holds his com
mission. Denying tho assumption that
the business man has no place In poli
tics, let him now find his true place, nnd
by an Independent, fearless exerclso of
his rights as a citizen acquire his sharo
of Influence In the making of tho law,
as well as Its administration.
"Even If all tho latvs proposed and
passed wore Just nnd proper, It would
be Imposslblo to force bo many and rad
ical business changos without the resulto
which we havo experienced.
RECALLS THE RAILROAD
SITUATION.
"Indeed tho failure to aid railroads In
their reasonable requests has not only
undermined tho values of one of the most
lmportnnt Investments for eavlngB funds,
which will bo felt not so much by banks
and business mon as by tho common peo
ple, the salaried man and wage-earner,
and which In due tlmo will be fully ap
preciated By the public. A continuation
of this policy will further Impair tho
value of thoso stocks and bonds in tho
hands of European holders, who catl
mato them In proportion to their earn
ing capacity, thus Inviting liquidation of
theso securities, which will compel ad
ditional exports of gold with Us attendant
business disturbance.
"The business men of the country nro
anxious to see tho end of the depressing
influence of congressional Interference
and bureaucratic restriction; they regard
present -methods rather ns tyrannical
than liberal, and no progress toward per
manent prosperity Is possible under a
continuation In tho present course."
COTTON CONSUMPTION LESS
Totnl for September "Was 410,194
Sales; Hewer Spindles Active,
WASHINGTON, Oot. 14.-A report re
siled today by tho Census Bureau shows
cotton, exclusive of llntcrs, consumed
during Soptembor, 1914, wan 415,194 run
ning bales, compared with 442,433 bales In
1913; hold In manufacturing establish
ments on September SO, 65,0GS bales In
1914 and 614,681 In 1913; and In Independent
warehouses, LCC1.8M bales In 1914 and
1,!9J,I65 In 1913. Imports were 15,315, equiv
alent to 600 pound bales, In 1914 and 7443
In 1913; exports. Including Itntors, 125,778
running bales In 1914 and 930,323 In 1913.
Cotton spindles actlvo during August
wcro 30,GC2,185 In 1914 and 80,634,881 In 1918.
Llntcrs consumed during September
wero 27,389 bales In 1914 and 27,697 In 1913;
held In monufactnrlug establishments,
63,914 bales in 1914 and 62,491 In 1913; and
In independent warehouses, 25,682 bales
In 1914 and 24,681 In 1918. 7
WHEAT IS FIRMER
WITH FAIR BUYING
LED BY EXPORTERS
SOUTH BROAD STREET
PROPERTY VALUES
SLOW IN GROWTH
Few Sales of Importance or
Significance in Recent
Years and Variation in
Price a Puzzle.
NOTES OF THE RAIL
Trade Evidently Impressed
by Smallness of Spring Re
ceipts Here and Deficient
Crops Abroad.
CHICAGO, Oct. II. Wheat started firm
er today with fair buying led by export
houses. Tho trade evidently wns Im
pressed by tho smallness of Bprlng wheat
receipts on both sides of tho International
lino nnd deficient crops abroad. Trado
was not largo.
In tho United States tho Western coun
try has received needed rains, nnd tho
Boll Is In fine condition. Plowing has
been chocked by dry woathor. Tho area
may reach 40,000,000 acres. The crop starts
out under tho best of conditions.
Tho visible supply of wheat in Europe
Is 63,148.000 'bushels, against 68 320,000 bush
els a week ago nnd 7S,S0O,000 bushels a
year ago. In the United States tho sup
ply Is 67,491,000 'bushels, against 61,695,000
bushels a wcok ago.
Quotations for futures wero posted at
Liverpool. Thero was a general demand
there, with spot prices advancing nnd
cargoes held firmly at a rise of 8 to 6d.
Llvorpool displayed apprehension nbout
tho falling off In Canadian receipts and
the firmness of Manitoba offers.
Corn was stronger on wet weather. The
selling wns limited. Corn at Liverpool
was affected by a sharp break In Argen
tina. The vlalblo supply In tho United
States Is 4726 cars, against 5160 cars a
year ago.
Oats also was firmer, but trado was
light. Tho visible supply In tho United
States Is 23,226,000 bushels, against 27,2S3,
000 bushels last week.
Leading future) ranged as follow:
Yesterday's
Wheat Open. High. Low. close.
December Lll-4 1.12 It l.lHi tl.lo
May 1.10V 1.171s l.lUU'l.lCH
corn (now aeuvcry;
uecemoer
May . . , .
Lints
December ......... r.l B1J1 Bl t51
May GIH S1H 61 731
October .. .... ...1000
November ....-. 0.U5
jAnuary , 0.S7
Itlbs
October ......... ..31. 00
November
January .......... 0.73
PorK
October .
January 13.75 18.05 18.75 18.70
Uld. tAsked.
67ty 07W B7H C714
.... . 70V1 70? 70 tW?
10.SO
10.1ft
10.07
0.87
10.00
0.(15
0.87
0.03
U.1H)
0.85
10.07
6.76
PORT OF PHILADELPHIA
Bun rises.
Sun nnd Tides
0:00 a.m. I Sun sota..
PiriLADELI'HIA.
B:21 p.m.
RAILROAD EARNINGS
WATIASH.
1014. Decrease.
Ausust rrcsia 12,702.850 I10fl,353
Net after taxes , 763,828 ao.S.IS
Tho months' gross.,.. 5,442,041 212 520
Net after taxes 1,420,054 68,017
WABASH, PITTSnrjUCII TERMINAL.
Aug-usi groaa S82,HSi) 515,214
Net after taxes 10,289 8,331
Two months" gross..,, 170,100 8,703
Net after taxes S3,S09 873
'Increase,
NEW VOHK, NEW HAVBN & HARTFORD.
August cross (3,730,000 (411,377
..ei mur tuirs ...... i,B9a,nu3
Tho months' gross .... 11,512,512
Net after taxes 3,718,863
TL'XAH AND TACIF1C.
Week ending- Oct. 7 $357,718
From July 1 4. 703.710
ni'FFALO. UOCHESTEIt & flTTSBlniaH.
Firm week October J201,2Stf $70,731
From July 1 3,101.G(U 600.407
COLORADO AND BOUTIinitN LINES.
First week Octobor (245.553 4,846
From July 1 3,749,030 l,28d
124.522
4U3.CSJ
110.741
J26.783
124,603
DIVIDENDS DECLARED
Land Title, and Trust Company, regular
quarterly SH por cent , payable November 2.
40 stock of record, October 15.
Aldlno Trust Company, regular Quarterly 1
per cent., payable November 1, to stock of
record. October 24.
l'uilflu Coast, IVi per cent, on first pre.
feried and 1 per cent, on second preferred and
common, the lanu as the last protlous declara
tion, iay&bli Ntn ember X.
New York and Honduras Ittuorlo Mining
Company, regular quarterly 3 per cent., pay
ablo October 28, to mode of record, October 19,
I'slted Cigar Manufacturers' Company, reg
ular qumerly 1 per cwit., payable November
2, to stock of record, October 3.
Union Steol Castings Company, regular
quarterly tf per cent.
Ileal Estate Title, Inauranea and Trua,
Coinpatr, regular quarterly 12.00, paya&t
Niumbtr 3 O atoclc of record October 13.
Whlra Parnr Company, res Jar semi-annual
.v, r-" -! ri p- ferred. pa;aMe ovearter
J I 'J i j Oviober -J,
According to ilKures issued by tho Inter
state Commerco Commission, Eastern rail
roads operating 60,832 miles In August
against M,7Si) in tho same month of last
year had operating rovenue of IU7.K0.57C,
against (124.7S1.0S2 lost year; operating ex
penses, (7i,01S,046, against (37,750,802 In
1913; and net revenue, (37,M1,C31, against
(37,007,139 In August of last year.
At tho annual meeting of the stock
holders of the Union Taclflc Railroad, in
Salt Lake City, tho following directors
were elocteds Oliver James, A. J. Ilarl
Ing, It. "W. Qoelot, M. Hughltt. V,'. A.
Hnrrlman, O. It. Kahn, It. S. Lovett. C.
A. Peabcdy, William Itockefoller, W. G.
Rockefeller. JL L. Schiff. J. F. Sehmlt.
W. V. S. Thome, Frank Trumbull and
F. A. Vnnderllp. Seventy per cent, of
the stock was represented.
William T. drier has been appointed
general tralllo manager of tho Lehigh
Vnlloy Itallroad. lie will bo In chargo
of the railroad's freight and passenger
business. Tho oflloo Is n now one. Ha
was formerly general coal and freight
agent of the company. He was born In
this city and entered the service of tho
Philadelphia and Reading Railway as an
olllco boy In 1SS3.
Hoston wns chosen as the ctty Jn which
the convention of the American Associa
tion of Traveling Passenger Agonts will
bo held in 1913, at a business session of
the organization In Ban Francisco. Of
ficers were elected us follows! President,
It. V. Manning, Bnnta Fe, Boston; vice
president, W. P. Wood, Wabash, St.
Louis; secretary and treasurer, Elliott
Monnett, New York, Ontario and Western,
Chicago.
Within tho next few days tho Federal
mediation board will name two additional
arbitrators to decide disputes between
Western railroads and employes, which
threatened to result In a strike last
spring. Four arbitrators havo been
named by tho railroad managers and tho
employes.
The Supremo Court of tho United States
will decldo whether or not a Statu may
compel a railroad to transport passengers
at a rata not remunerative and what con
stitutes such a nonrromuneratlvo rate, aa
the result of arguments begun boforo tha
court In Washington In the caso of tho
Norfolk end Western Railway against tho
State of West Virginia. It is maintained
by the railway that the rate of 3 cents a
mils tor passenger transportation Is In
effect confiscatory.
High wator. 0:21 a.m. I HlKh water, 0:61 p.m,
Iw water.. 1.11a.m. I Low water.. 4:21p.m.
REEDY ISLAND.
High water. 8:13 o.m. I High wator. fl'JOp.m.
Low water. .12:21) a.m. Low water. .12:39 p.m.
BHEAKWATnit.
High water. 3:21 a m. I High water. 3 -48 p.m.
Low water.. 0:19 a.m. I Low water. . 0:33 p.m.
Vessels Arriving Today
Str. Fannto, RJch. New York, merchandise,
Clyde Steamship Company.
Btr. Brlcsaon. McNiimce. Baltimore, passen
gers and merchandise. Erlcseon Lino.
Str. Aloh (I5r.), Norfolk, ballast, Joseph C.
Gabriel. . .
ilk Doris (Ital.), Buenos Aires, bones, Wc
cnberf? St Co.
Schr. J. Howell Leeds, Now York, laths, A.
D. Cummlna A Cq.
Schr. Wlnnegance, Now Brunswick, laths.
Sailing Today
Btr. rrutera (Nor.), Arneaen, Kingston,
United rrult Company.
Str. Aucliendalu (Dr.), Cowan, Newport
News. J. A. McCarthy.
Str. Delaware French, New York, Clyda
Steamship Comiany.
mr. ilohlran. CNolll, Norfolk, oto., Clyde
Steamship Company. ,,...
Btr. Wllllnocket, Perry, New York, Jonathan
Btr. Anthony Groves, Jr., Brlstow, Baltimore,
jjHpivn Lino
Be'hr. Pendleton Sisters, Small, Calais, A. D.
Cummlne H Co.
Steamships to Arrive
PASSENGER.
Name, From. Sailed.
Haverford Llvorpool Oct. T
rnsiaitT.
SturmfeU ivjjcntta. g'Pt.-
HartJan Mlddlesboro ...bept. 30
Man. Miller Mineheeter ....gept. 24
Noiuorg ,,uinv" . ... .oepi. i:a
Btalhelm
Crown Point.......
Marlterw
iiurk
Mlisourlan ........
Va.unla
California ..t...
Inveritylo
Hesperoa ...
Klrunj
Noordvk ..........
Vlnland ...........
Aurahamaon
.. llurnt Island.
. . i. on. ion
..Huelva
..Narvik
. .llilo ...
...l'aval .
..Copenhagen
.Sept. 2U
.Sept. ''.
.Sept. 20
.Bept. 21!
Sept. I'D
.Sept. 29
.Lt. 1
Tho South Broad street section from
Pino street to South has been ft dull
proposition for n decade. It -will he re
membered that July C, 130$, tho north
east corner of Droad nnd South streets
was transferred by Phllllppus W. Miller,
nn attorney, to Jacob C. Kahn. At tho
tlmo It was assessed at $00,000 and the
prlco at which It won sold was $58,000.
Tho lost was flO.ttfc feet on Droad street
by a. depth of 77 foot along South street
nnd was numbered 627-23-31. The corner
was rebuilt and a new front wns put In
property to north. Aftor this Balo the
dullness becamo extreme
On December 1, 1909, sale won mado of
premises 607 South Ilroad otroet (this
property had been offered for sale by
Uarnca & Loflnnd April 10, 1907, but was
not sold), nnd tho estato of James Dun
daa Llnntncott made transfer of the
samo to Thomas M. Daly, president of
tho Contlnental-Equltablo Trust Com
nanv. lot 30x142. nnd assessed at $45,000,
for $30,000, or only $1000 a. front foot. This
was a remarkable prlco when ono con
siders that the Wetherlll property nt the
corner of Broad nnd Walnut streets, only
five squares to tho north, brought $13,750
n front foot on Walnut street, or $115 a
square foot.
In 1009 Col. Edward doV. Morroll had
acquired 609 South Broad street, paying
$60,000, and now, by tho death of Barton
Willing, his residence, 511 South Broad
street, to for Bale. This property was
built by John Ponn Brock, who sola It
to Mtb. Edwnrd Willing In tho early
80s. At that time and for a good many
years It waR a residence locality nnd tho
scene of much entertaining, all of which
may bo said to havo practically now
passed, giving way to commercial needs.
Tho recent death of T. H. Darley will
bring his residence, 610 South Broad
street, upon tho market. It Is a hand
some ploco of real estate, which moro
than likely will find a buyer who can
alter It into an apartment house. Tho
market is In a better condition at thl
tlmo, as tho Willing lot. so long a drag
upon tho market, at tho northwosf cor
ner of Broad nnd South streets, Is being
Improved, and adjoins tho Darley holding
to tho south.
On May 8, 1911, tho Pennsylvania Com
pany for Insurances on Lives and Grant
ing Annuities, executor of tho estato of
Barton Willing, sold tho former residence
of Dr. John Rhea Barton, nt tho north
west corner of Broad and South streets,
to R. and F. P. Jacobs, trading ns Jacobs
Brothers, with a frontage of 122 feet on
Broad street and a depth along South
street of 193 feet, nnd assessed for $173,000,
for $165,000, or at tho rate of $1350 a front
foot on Broad street. Tho property had
been held for a good many years at
$200,000. A largo building Is now going
up with six stores on Broad street nnd
12 on South street, tho front, of New Jer
sey sand cemont brick, presenting a very
flno appcarnnce. Thceo occupy tho first
floor, tho rest of tho building will bo
occupied by the Jncobs Brothers an a.
factory. Tho southeast corner of Broad
nnd Lombard Btrcetfl Is being Improved
with new front and four stores on Lom
bard street.
COLLKOD CONSIDERED SITE.
It Is well-known that at one tlmo this
Elto was considered by tho College of
Physicians for their new building.
Howover, finally 22d nnd Ludlow streets
was chosen. It Is for the college, per
haps, a better site.
The futuro of thlB section Is even yet
not settled, unless It Is to bo for busi
ness needs. It offers Inducements along
wholesale and retail manufacturing lines,
apartment houses, Institutions, or schools.
It Is a remarkablo thing that Broad
streot, north and south has not caught
on, long ago, to a most substantial ad
vance. Thero Is no street In tho world
of Its width and fine appearance for
such a length, reaching from Government
avenue on tho south, with Lenguo Island
Park and Parkway, to Cheltenham nve
nue on tho north with beautiful Logan
and tho York road section, a distance of
over eleven miles.
It Is also possible that the Broad street
subway Idea has broken tho spell. Men
look ahead In such matters, and unless
the market Is anticipated prices will get
away from buyers. When the day Is set
to begin construction It will be found big
advances will be necessary to buy any
thing. NOTES OF TirE STREET.
The record of mortgages on Stonday
wns a very respectable list. Out of bO
separate ones placed on the record, CO
wero furnished by building societies.
PHILADELPHIA MARKETS
GUAIN AND FLOOR
WHE.iT. IUcelptr, 120.001 bush. Th
market advanced e. with a fair demnnd
from exporters and millers. Quotations: Car
lots, In export elevntor. No. 2, red, spot tfnd
Octobor, 1.071.10; No. 2, red, Wontern
1 20 N' ' Nortl,ern Du'1"". $'.1T
I ??r ncelpt(i, 13,453 buh. Demand
improving and prices Ha. higher. Quotations:
Car lots for local trade, a to location. No.
2. yellow, 81V4082C. ( aleamer, jellow, 81
OIHO.
OATS. rtecelpts. 100,020 bush. Slarket
firm and Ho. higher with a fair demand.
Quotations- No. 2. whltp, BlWiHMr.i stand
ard white, BOHQBlc.j No. 3, white, 60136014c.
1'I.OCtt Itecelpts. 1015 bbla. nnd 1.485,r.78
'? .? ?ack". Trade slow, hut mill limits
steadily held. Quotation per 100 lbs. In wood
Winter clear, JI.00B4.83: do., straight, (t.tiu
UTil.lS; do., patent, J6.25fir.0O: Kansas,
straight, lute sacks, tSicsoTlS; do., patent,
l'itSrJ'e"' $0.4OIrfl.0r.. Rprlng. nrrt clear,
F.W3.iai do., favorite brands, iOCfl.BO; clt)
ml n, choice and fancy brand., loao.BO; clt)
tnllls. rCBUlltr ffttlrlna Ul,
'I'jdo-i straight, $4.0050.10i 'do. pat
clear, 1-1.004
ent.xs.2n
cjs.oo.
HVE n.ODIt Quiet nnd unchanged. We
jjuoto nearby and Western In wood at fMp
PROVISIONS
Market qnlet and unchanged. City bef, In
et, smoked and nlr-drted, 30301 c; Western
S... ' J".M.t 8mked and alr-driod. .110328.:
SiL,j2'v,.knllcklsfl """I tenders. Kmoked tind
air-dried, niB2e.i Wcntern beef, knuckles and
tenders, emoked , .11fjl2o.; heof hams, 38-0;
P12,rk' '""&. 2flr20.B0; ham, 8. P. rured,
loose, UHifrlSa.) do., skinned, looao, UWP
loo. j do., do., smoked, lOOlOHc.; other hams,
iS?S,e,-' c, "'"d. as to brand nnd avemco,
JOttWlic.; hams, smoked. Western cured, lOJiff
ito., do., boiled, bonoless, 23glc.i ptcnlo
shoulders. B. P, cured, looso, lfy.onie.i do.,
smoked, lniiMo. ; bellies. In plcklo, accord
ing to average, looso, lOtflOHc: breakfast ba
con. nS TO hrnnrt ami avnraira .It. .........I aa
r. V Sffeakrast bacon, Wontern eur-d. 2ff21c.j
lard. Western, refined, tierces, lO-'iSrllc: do.,
do., do., tuba. lOv.Bifc; lard, puro city, kot-
.; 'T...W ,n "Tcea, iwi'tfuic. : iara, puro
city, kettlo rendered, in tubs, lljyiUJc.
REFINED SUGARS
Market dull at recently revised prices. Stan
nrd grnnulated, O.SOo ; lino granulated. O.BBo.s
powdered. Oil.".; confectioners' A, 0.15c; soft
grades, G.-tOBflo. ,
DAIRY PRODUCTS
-?1,.PKs.I.J,T'rerInKs moilerato but ample
rpr the limited rejulroment of tho trade.
Price unchanged. Quotations: New York,
f nil-cream, choice, 150. ; do., do., fair to
B1. U'idilZc; do., part skim, HRlUc
IIITTTIlIt. Fancy stock well rleanod up
nt steady prices, but medium grades dull nnd
weak. Quotations: Wctrn fresh, solid
pneked creamery, fancy, specials, 33c. i extra,
Jlc. ; nxtra firsts. I'DqsUc. ; nrsts, 28i20c. ;
seconds, 2CQ27c j ladle packed. 2i(!X2ao., as
to quality; nearby prints, fancy, aie. : do.,
averace oxtra, 32iij)33c. ; do.. Arms. 20B31c. :
do., seconds, 27(3isc. Special fancy brands
of print Jobbing nt 38i30c.
I'.fiOH.. A good outlet for fine new-laid
orgs nnd markot firm. Quotations: In fret
cases, nearby extras, 31c. per doz. ; nearby
firsts, $8.I0 por standard case; nearby cur
rent receipts, $7.80 por standard cases, ex
ceptional lots higher; Western extra, firsts,
$8.40 per case; do., firsts, $7.80 per caso; do.,
seconds, S0.00QH.90 per caso. Candled and
rocrated fresh ckk wero Jobbed out at 35
37c. per doz., as to quality.
POULTRY
J.1VR. Market quiet, with ampla offer
Ings nt recently revised prices. Quotations-
Fowls, 14lSe. ; exceptional lots higher;
old rooters, lQ12c. ; spring chickens, accord
ing to quality, Mffir.c, exceptional lots higher;
ducks, 13Ifl4n.: geese, iSHUc. ; guineas, young,
weighing 2 lbs. and over apiece, per pair, 70e i
do., weighing l1il?i lbs. apiece, per pair, "0
0c. ; do., weighing 1 lb. apiece, per pair, fiOc :
old, per pair. OOi' ; pigeons, per pair, 54ne
JMtll.lsllU, Demand sufflclent to absorb
the limited offerings of fine deslrablo-slted
stork, value of which steadily held. Quota
tions: Fresh-killed poultry Fowls, per lb.,
selected heavy, 21c; weighing btili lbs.
apiece, 20c, do.. 4 lb, apiece, 10V40.1
do., B"5 lbs. nplece, 101-4O17V&C. ; do.. 3
lbs and under, irgli;c.; old roosters, dry pick,
ed, lt'ie. , broiling chickens, nearby, weighing
1H!2 lbs. nplece, 2(J2c; do., nearby, fair
to good. 103100 ; chickens. Western, 4 lbs. nnd
over nplece, 18c; do., dn., 3V4 lbs. apiece, fat.
IfiifilOc; do., do., 2Mf?3 lbs. apiece. 13(!?14c.;
Droning cnicKens, wetern, ivz ids. nmec,
17c ; do., fair to good, 12914c; squabs, per
do?. Whlln. wels-hlnir 11 lo 12 lbs. Per dot..
t-1.056-4 25, white, weighing 9 to 10 lbs. per
dor., fl 7M0.M); whlto, weighing 8 lbs.
pr
dnx., $2,230-2.10; do., do., 7 lbs. por dor.. $1.7J
j2: do., do , ngovi lbs. per doz., $1.2&SJl,C0i
dark and No. 2, C0:.$1.10.
VEGETABLES
generally
favored
Trade slow and crlces
buyers. White, potatoes per bushel Pennsyl
vania. COflOSc, New Torb, Ki53c, white po
tntofs, Jersey, por basket, BKJiiSc: awect po
tatoe, Kostom Shore, per bbl No. 1, $1.75
QV..1.1, No. a, 7.'.cSl; nwoet potatoes. North
Carolina, per bbl. No. 1,$1 75 2, No, 2. TBe
S$l; swcot. Jersey, per bbl. No. 1. $2.B0Cr
2.7S; No. 2. I1.COV1 7K. sweets, Jersey, pr
basket, 4fi34c. Onions, per bush., 3R46o.
per 100-lb bag, 75'S90c. Cabbago, domestic per
ton, fVitw, feiery. New Tork, per button, w
iiCOC. Mushrooms. Der 4-lb basket. $1,409
1.00,
FRESH FRUITS
Quiet nnd without Important change. Ap
ples, per bbl. Jonathan, $333.50, Oravensteln,
$2.253; Ulush, 12.25113; Twontj-ounce, $1759
2.50: Mppln. $I.75W2; York Imperial.
S1.755J2; other good eating varieties, $1.753
$2.50; medium. $1151.50, orab, $4.60tM;
crab apples, ror bushel basket. $1.GO0
1.75; apples, 'Western, per box. Jonathan,
$1.2301.0.-,, Grime's golden, $1.2501.05; ap
ple, Dclawaro anil Pennsylvania, per hamper,
SOfifiOc. Quinces, per bbl, tWJ.W. Iomon.
per box. $.'!a. Grapefruit, riorida. per
cram, $2.5tKf$4.50 Pineapples, per crato
Porto lUco. $1 2.11.25, Florida, $12.50. Cran
berries, Capo t'od, Karly Ulack, por bbl., J1.60
ffS. cronberriri. Cape Cod, Early Ulack, per
crntc, $1 75152. cranberries, Jero, per crate
Dark. I1.7&92.SS, light, fie.1.23. Peaches,
Virginia, per 20-lb. basket, 4'n75c.; do., do,
per crate. $1W1.70; do., Delawaro and Mary
land, per basket, 45SSie. , do , do., per crate,
$UH.75, peaches. New Tork and Pennsylvania,
Per basket Mrgo whlto or yellow. (lOo.CJJl
medium, 40350c: peaches, Jersey, whlto or
yellow, per -baiket Extra largo. 75c.e$1.23;
medium. 201HOc. 1'cars. New "ork, per bbl.
Heckel, $4 Willi; nartlett. No. 1, $4'35.50; do.,
No. 2, $2.603; nourre nose $41iO.Ml; Sheldon.
$KiB; Uourre Clalrgenu, $2.COW3.60; Beurre
d'AnJou. $2.253.25; Duchess. $2.Z5?3.25; How
ell, $2C50; other varieties, $2tr3; pears,
llartlett or Socket, per buhel basket, $UO02.
Grapes. Now York Concord, tier fi-lb. bosket.
lStelSc. ; do. per 4-lb. basket. SfTOc; Niagara,
per 4-lb bosket, S&lOo. ; Uelawares, por 4-lb.
basket, lSOlSc; graps. Concord, per crate,
408fl0c; do., do., por 20-lb basket. 35340c. ;
PlumB. per S-lb basket. 2Cf?25c. Cantaloupes,
Colorado, per crate. U1.50: do., do., flats,
(jOc.q$1. Watermelons, Jersey, per 100, $10
?25.
REOPENING OF CURB
MARKETS INSPIRES
BETTER CONFIDENCE
New York and Boston Marts
Resume Trading and To
ronto Will Open Tomor
row Start Is Good.
BOARD PICKS HOME
FOR NEW FEDERAL
RESERVE BANK HERE
Will Open Temporary Quar
ters in Lafayette Building.
Meeting Soon to Perfect
Final Organization Plans.
.Savanna LaMar.Oit.
...Ilombuy Oct. 3
,.Nsrlk Oct. 4
.. Rotterdam Oct. H
..Fan Andreas. ..Oct.
..Plymouth Oct. S
Steamships to Xeave
PASSENGER.
Name, For. Data,
Monisollan Glasgow Oct.
CaltfornU .....Copenhagen ....Oct. 18
naverford Uverpoof Oct. 21
TIE10UT.
Mlssonrl .London
Hautn i-uim
...Oct. 14
. . net. II
ondon
nnnldan .... .i.eitn nt itt
Cron Point London Oct. 21
Canton , .....Christian! ....Oct. 21
Man. Miller Manchester ....Oct. 21
TORT OF NEW YORK
Steamships Arriving: Today
Name.
Finland ......
Varona. . . .
C. B. da Pcrei. ........ S villa
Due Tomorrow
pom. Doet at
...."verpool ......Ua.m.
i"""1" ... Noon
aH. 37
FOREIGN EXCHANGE
Firm conditions rule in the foreign ex
chango market and demand sterling has
advanced to 4.0S 4.97, white cabla trans
fera have ene to 4.97S4.83. The strong
demand Is maintained and Its Influence Is
accentuated by the scarcity of commer
cial bills, particularly of tho grain va
riety. Francs are 5.W& and 5.06H for
cables and chocks respectively, ano)
marks are quoted MfittJVi.
;
NEW YOKK BUTTEB AND EOG3
KEYV TOKK. Oct. 14. Butter, top aradej
(no, receipts 1M&! packages. O-eamary ax..
. . 81'io. Blh',r aror na- 8Ja.
- . lrreeuiar. lt Hrra 1TSS9
uni. ...
fclra-c
bits, aitrSw-j fresh.
cases.
On is.
Name. Prom.
Baltia ......Uit'rpool ...
California Bordeaux ...
Italia .....Mmena
(an GuKlUlmo. .,,..... Alrutma ,,,,.
Marquette ...London .....
Steamships to Sail
Kama. For.
Roma .. .....Marseilles .
l.uslt&nta .... ..... ..J.lwrittol .,.
Celtic Uverrool ...
6.n Giovanni .Names
Pcar II Copenhagen
Balled.
.. Oct. S
...Oct. a
...Oct. 4
...Oct. a
...Oct. 3
Pate.
..Oct. 11
..Oct. 14
Oct. 14
..Oct. 14
Kroonland Piraeus "Hoot i.
Movements of Vessels
Sir Canton (Swed.), for Philadelphia, tailad
from Gothenburg October 11.
Str. Crown Point (Br.), London, for Phil.
delphla. arrived Halifax October 11.
Str. Dominion (Br.), Philadelphia for liver
pool, puted Klosale October 13. expected at
dock today
Str. West Point rr). Pbl'i'lelr.Ma for Lon.
don, pa". I I l irl i -v-r j
r-rr i -i'- r i -...-... ea'-l
(,ii Po Ar"- i r ver v, -
Monday belns a lesul holday, realty
matters were neglected. The courts were,
however. In session, and a number oj
land damage cases were heard, princi
pally appeals.
The market U likely to be dull until
nfter election, us the loan item comes up
for public approval. If the votu is nltlrm.
atlve, and It certainly will be unless
voters are carelebs, public Improvements
win so uiieaii. inese affect real vstata
and will tend to better feeling'.
Mortgage money is needed, but It Is
not belnt: furnished freoiy. Hates are
unchunged. LESSON.
FREIGHTS AND CHARTERS
Traiuatlantto Inquiries wero met with anmla
tonnaeo lu the bteam market. Jlstfu are tlriii
CharterUsr of ealllnc tonnage Is at a standstill;
STUAJrHHII-S.
Jesimore (Pr), Montreal to ploUc.1 norts
United Kingdom, grain, 2U.0OO quarters. 3.
Octobor ''
Vlnland Ofor.), Baltimore, to Scandinavian
ports, grain, U'.U) quarters, os.. October
VimconU (Swed.), same. lt,000 quarters, la
0d.. October. , w,
Langholm (I'r , Atlantic range to picked
ports L'nlted Kingdom, grain, IM.KK) quarters
2s. 0d.; option French ports, 3s. ad., Noiem!
bcr.
Maresfl.13 (llr.). Baltimore to linden puts
40.000 quarters, 2s. 3d.; option Geneva. 3s,!
October. '
Aujola (Br.). S1T0 tons, Norfolk to Phlllb.
plues, coal, private terms, prompt.
Isle of Jura (Ur ). 2JS8 toua. Baltimore to
Havana, coal, private terms, prompt.
Deoola (Br.). 15iH tons. Portland to IJver.
pool, applos, 8 . M., prompt.
Vlnoonio dl Giorgio (Nor ), 018 tons Halifax
to Uvtrpool or Olasgow, apples, 2a, uj
prompt. ''
Vnua (Nor), 1T62 tons, Charleston t Sean
dlnavtan ports, oil cake, prlvnte terms, prompt
Un-oo4 (Br.) 1052 tons. Gulf to Idth
general tarso, 16s., October.
Kliaale (Br.). S4S tons. Qulf to Palted.
Kingdom, cotton, 4ls.-8d , October-NovemUr.
13276, Ur&. " UU" ""- tw
The financial situation Is brightening.
Tho Nw Tork Curb Market was of
ficially opened for business today for the
first tlmo slnco July 20, when tho Stock
Exchanges of tho world wero closed.
The Boston Curb Market also resumed
today, with a airly good attendance on
the floor.
Resolutions providing for reopening tho
Toronto Stock Exchango on a limited
basis were adopted by the oxchango, and
actual trading In the inter-llsted stocks
will begin tomorrow.
In New York thero wcro further con
cessions granted by the Stock Exchange
Committee, permitting deallnxs in listed
guaranteed btocks at moderate conces
sions from the closing prices. This now
ruling opens today in 31 stocks, most of
them of subsidiary companies of the big
railroads.
Another concession granted In New
York was that brokers may now accept
nnd execute orders in all unlisted stocks
which were belling at $10 'a share and
under at the time of the exchange clos
ing. This rulo will permit trading in
United Cigar Stores, new United Profit
Sharing, Riker-Hegemaii, new Groden
Copper and other low-priced Issues.
All of theso optiratsllo moves, espe
cially the resumption of New York's
curb maiket activities, are looked upon
by Investment traden. generally as being
very encouraging and lorecasting earlier
resumption of oillclal exchango trading.
In Hoston business today from the
start-ott was brisk and prices were firm.
The first stock traded in was Mexican
Motals, which sold at 15c. off 2c. from
July 31 closing. During the first 15 min
utes 13 shares were traded In, a nor
mal business, i irst Nationul Copper sold
at $1 23, oft 25c: Bay State Oas, lie. up lc
N, Y. CURB MARKET
Quotations nt tha opening session af the
New York curb Market today ranged as
follows:
Bid, Asked.
CloUflGlJ Consolidated l' u
.iiiijiu" ..c..aiv.. . , ,.,....,, it tg
iverr-i-nKi i
Mtzpah Kxtenilon 21
.N'evjd.i Hills 2S
Tuiio-4h Kiter.jton 3U-UI
Atlanta - ITf,
UolJileld Florence.. ........ ... ill
Jim Butler , , 70
l.n Ttoye... K
Montana nt 44
Nevada vAondir , 1", it
West End... fid 81
Ton North Star..,, , Its js
4C.
2T
2sl
8 tl-lu
J.ta
74
Tompornry quarters at 301 and 305 Iaf
nyctto nuilding. Fifth and Chestnut
street?, have been engaged by the Fed
eral Reserve Bank of Philadelphia. Th
rooms, two moderately sized ones, ara
situated on the corner of the building,
overlooking Chestnut and Fifth streets.
Tho directors of the bank will go to
Washington next week for a conferenoe
with the Federal Reserve Board, which
will be held on next Tuesday, when th
directors of tho 32 new Institutions, to
be situated in various pp; is of the coun
try will bo present.
Plans for tho opening of the new banks
and their operation will be discussed, and
it Is expected that they will be placed
in actual operation by the first of No
vember, or shortly after. This Is un
derstood to b the plan of tho Federal
Reserve Hoard.
Secretary of tho Federal Reserve Board
vMllls announced today that tno board
has under consideration certain account
ing systems, with a view to recommend
ing one of them for uso by th reserve,
banks. It is the belief that the banks
will defclro to instal a uniform system of
accounting and bookkeeping.
Th. accounting plans ultimately to b
adopted will probably cill for extensive
use of mechanical devices. An announce
ment tvae made today that manufacturoia
of su-h devices, including typewriters,
adding m.icntnes, tpenriter-adding ma
chines, and others who may be interested
111 the subject, would be Kunnlle.l. nmn
application, with copies of a tentative re
port on accounting, prepared for the board
by a committeH of experts.
This report outlines tho systems of ac
counting which are suggested as a bals
for consideration and Is accompanied by
a series of furms. Tha forms will not
be distributed, but may be examined at
the olllco of tho board by responsible
persons ou and nfter October CO.
It wus further announced that the board
expects In the near futuio to hold a, gen
eral session, nt which will be present
representatives of tho several Federal re
servo banks, and that at that time op.
portunity will be given for discussion of
mechanical devices b those present or
by a subcommittee.
saa-,limmvKwv
TlWflWWIlJ
Str.
years.
LIVE STOCK QUOTAIJpNS
CHICAGO, Oct. li. HOGS Receipts
2S.0OO bead. 'markets. So. blgner. Mixed ani
butchers. tT.85j3-15. sood heavy, I7 7o.o8.13
rough heavy, IT 70.3T6O. light. T 7psJs.10 plii.
celpt. 13.000 head; markets steady to lower
wvewvat v.th(r,Ai wne a aeirers. X4,T:t''5"
!lJi'Ir na 'ceders, 3.T538.10. Texan
T4'iffs.S0 .-a'T-s, J981123. 8HFTT i
i i vonr.i , - -i ,
ul V.etle a, $J, k .? J .V, lamb.. UlviiT.ea.
Before Investing
in a Bond or Stock simply because its present
price may seem cheap by comparison, use the
Investors' Service
It reports on Capitalisation and Funded Jlebt. Fran,
chlsee. Burnings, and the fundamental Security, tog-ether with
the published news Items covering- changed, condition.
Learn from this unbiased and impartial source, all the essential
facts before investing your Savings, Ask for report on any two securi
ties you own or intend purchasing. No obligation and no charge for
this trial service.
In Use by 29 Banks and Trust Companies of this and nearby Cities.
H. EVAN TAYLOR, inc.
3W-5-6 MORRIS BUILDING
1421 Chestnut St. Philadelphia I
oY EVAN
W lev&SToes .f
VJtRVICfW
Veyi 3CyT
Ttsnk Ktcmett.