Newspaper Page Text
EVENING LEDGEK PHILADELPHIA, FRIDAY, SEPMHBER 24, 1915.
HUGE LOAN CUT
IN HALF; CLASH
ON TERMS SEEN
"Amount of Project Report
ed Kcduced to $500,000,000.
, Eussia Barred Out
RESENT MORGAN POWER
New York and Western Finan
ciers Indignant at Whole
Method of Handling
fcy B. C. FORBES
Financial KAUar Wu Yerk Xmrtcan.
NEW TOnK, Sept. 24.-I am In a posi
tion to make the following statements
concerning the proposed American loan
to Britain and France:
The term of the loan have been
thrown Into the melttnc pot.
"The amount of the loan has been frit
tered down to 00,000.000.
Russia will not be associated with the
Issue In any shape or form.
"It Is by no means certain that terms
will be agreed upon.
Therefore, there Is a possibility that
the negotiations will fall through, al
1 hough this Is declared by Insiders to be
Indignation Is expressed In both local
and out-of-town financial circles at the
whole method of handling these negotia
tions. LET IN ONL.T JIUliUAr..
The Anglo-French Commissioners have
built a Chinese wall about themselves
which, bankers complain, can be scaled
only by J. P. Morgan and those closely
associated with him.
Lord Heading, chairman of the com
mission. Is said to have seen one or two
members of so-called German banking
firm on the quiet, but the majority of
substantial bankers and heads of bond
firms have been denied all occasion to
tako part In discussion of the loan.
Even Sir Edwin H. Holden. although
having many banking friends n Jjew
York, as well as n the South and middle
West, lias not once been seen In the
financial district visiting Important bank
erswith the exception, of course, of Mr.
Morgan and his partners.
So far. the negotiations have been al
most wholly between the British delega
tlon and tho fiscal ngents of tho British
Government, a circumstance which is be
ginning to excite severe criticism. Mor
ui& Co.. it is commented by those shut
out from the dally powWows of the Inner
circle, ere In the position of 'ndeavoring
to raise cash to pay tor goods they them
selves have ordered.
NOT NATIONAL BANKERS.
J. P. Morgan & Co.. It Is remarked, are
not national bankers, although the loan,
to be a success, must be handled, bankers
point out. chiefly by the 7700 national
banks throughout the country.
The urgent suggestion was made to the
Morgan interests yesterday that It would
be fitting were the commission to invite
lor a conference the Executive Committee
of the American Bankers Association,
the great representative banking associa
tion of the United States. The national
bankers would then feel they were being
represented in a matter which they are
expected to handle when the time for
The only .conference held yesterday at
least, the only one which the groping
newspaper men were allowed to know
anything about was one held In Mr.
Morgan's library. All that leaked .out
about It was this:
Four partners of the Morgan firm
Mr. Morgan. .Dwlgbt Morrow, Henry P.
Davison and Thomas W. Lamont and
Frank A. Vanderllp, president of the
National City Bank, were present for
the American conferees, while Lord
Beading and. It was said, another British
member of the commission represented
the commissioners. The meeting lasted
mora than" an hour. At Its conclusion
none preset would say what had been
FRICTION IS DENIED.
A denial was Issued yesterday by the
commission that any friction had arisen
between them and American financiers.
Here is the text of the official state
ment: The commission wishes to deny em
phatically that there has been friction.
The report that there had been Is not
Now that disagreement has arisen over
the terms it la not expected the prom
ised official statement covering the pro
posed transaction will be Issued for some
little time. Indeed, It Is thought possi
ble the commission may widen Its door
a little and call Into Its discussions
not onlr heads of local banks, trust
companies and Important Investment
..fnne ll UUk IU null, tt.i, t . w ...: -.
ind bForgan and George M- Reynolds, of Chi-
ago ana csiu. .j. maac. u; ou iuum.
If3 of whom returned to their homes
I er experiences which did not wholly
l,.ase them in New Tork.
"Tlepatchee from other cities nave re-
'"'prded that bankers there who endeavored
artlQ find out from the commission what It
rurproposed doing, returned empty-handed
chu'fuu 0f indignation rather than of In-
it 5 formation.
1U D&1.U JlttJyUW I'All.
The expectation Is that the bonds If
offered will carry t per cent. Interest,
but that they will be sold below par to
the public, and, -of course, still lower to
the bankers acting as vendors.
Foreign exchange circles were nervous
yesterday over the rumors current that
the negotiations had encountered a. set
back. The value of French; francs de
clined sharply, while the English pound
sterling also closed slightly lower.
Exchange, expert, when asked what
would happen were the commission to
decide that It could not float a loan, sim
ply held up their hands and exclaimed
well, that they did not know.
Parish House Bought by Hospital
The Philadelphia Orthopedic! Hospital
and Infirmary for Nervous Diseases ha
purchased the parish house of the Church
of St. Luke and the Epiphany, at the
southeast corner of 17th and Winter
streets, for 110,008. The building will be
used as a dispensary. It adjoins-the main
Justice Elkln Convalescent
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HuasHsl said today that Justice John
Sl..Utin ot the P'lWvanla Supreme
, nmmpf wofioa on last patur
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The map shows the 'points where the Austro-Gcrmans on tho north
and 'the Bulgarians on the east are massing their forces for tho
contemplated invasion of Scrvia. Belgrade and Scmcndria are
already under heavy bombardment. On tho Servian side of the Rivers
Danube and Save British forces have mounted naval guns to assist
the Servians. Some of the British marines manning these guns are
shown above. France and Russia have also sent men to assist the
hard-pressed little kingdom.
MORE SOCIAL REFORM
AT CAPITAL FESTIVAL
Harrisburp; Discusses Gover
nor's Promise of Better Hous
ing Conditions and Means
of Public Recreation
CHILDREN IN PARADE
HAItniSBUno. Sept. 2i. Citizens of
the capital today paused In the midst ot
preparations for the big day of the mu
nicipal Improvement celebration 'to dis
cuss with marked Interest the speech of
Governor Brumbaugh at last night's re
ception to the men and women of tile
city who have been active In bringing
the improvement program of the last 15
years to a successful conclusion. The
Governor pledged his best efforts to the
development of the 27 acres that have
been added to the Capitol Park by pur
chase of private holdings and the dedi
cation or land to the State by the city.
"It Is my ambition to make thH ex
tension tract the most beautiful and at
tractive In Pennsylvania," he said, "and
to give the people of the State oppor
tunity to see from the railroad, as they
pass through, their Capitol and Its sur
roundings In all their magnlllcent
The Governor struck two other keynotes
of more than local Importance when ha
said he will take np In the near future
the housing problem, predicted that the
"State will go very, very far along this
line In the next few years," and intimated
his Intention of recommending laws for
the Improvement of the leisure hours ot
"We have been passing many laws for
the betterment of working conditions, and
the tendency Is toward a shorter working
day, but people do not get Into mischief
when they aro working. So the State
must take up the task of making It easy
to do good during leisure and hard to do
evil. The park, the playground and the
social centre are steps In this direction."
The program of today started with a
parade of nearly 11,000 school children.
At 1 o'clock a tablet marking the site
of Harris Ferry, where the great middle
route west crossed the State from Phila
delphia to Pittsburgh In the early Colo
nial days, was unveiled. This tablet was
presented to the city by tho Pennsylva
nia Historical Commission, and the prin
cipal address was delivered by Dr.
George P. Donohoo, a member of that
body. Doctor Donohoo presented a copy
of the original Harris grant by the heirs
of William Penn to the Dauphin County
Following the event the crowd
thronged the city's "front steps" to wit
ness a water carnival, made possible by
the erjJtlon of a dam by tho city across
the Susquehanna at the lower end of the
town and which turns the stream opposite
the city into a great basin Ideal for boat
ing. During the carnival there were
crew races by members ot the Falrmount
Itowlng Association, of Philadelphia. The
evening will be given over to an Illum
inated river parade, a representation of
the attempted burning of John Harris
by Indians and his rescue by "friend
lies," and fireworks.
Fall Styles on Display
Exclusive novelties and shades for Fatf never before
even thought of. Discriminating women and men
will b deHgkted with these surpassing productions,
vary pair ef which fully supports the Centemeri
reputation of standard of style, quality and fitting.
CsntwHeri Styles Fram $1.25 '
W.vskabl Cape fw Men anil Wmmr, $1.75
1223 Chestnut Street
TENANT COMPLAINS OF RATS
But Magistrate Supports Landlord
Nightly concerts by a ..score of rats,
with vlclous-looklng spiders and roaches
doing footwork In the chorus, were given
by John E. D. CoITey, of Beechwood Park,
as sufficient reason for leaving his bunga
low In that suburb.
II. Allen Kauftman, of Strafford, Pa.,
owner of the bungalow, brought suit
against Coffey to recover ISO for two
months' rent. Coffey declared that he
was compelled to leave the place before
the expiration of the leane'on account of
Its condition. He told Magistrate Honey,
before whom the action was taken, that he
was obliged to buy all kinds of rat tram,
rat food and roach powders, and ho
didn't know why he should be held re
oponslble for the maintenance of rodents
and- bugs In the bungalow. The rats
laughed at the rat? traps, Coffey'declared,
ana.flnsljy .be. was, obliged to shoot them
with a guir ni 3 '
The Magistrate admitted that such con
ditions were Intolerable, but he gave
judgment for 'the plaintiff.
prizes' at Oxford fair
Thousands Attend Closing Day of
Events Exhibits Win Applause
OXFORD, Pa., Sept. M. Thousands or
pel sons attended the closing of the fair
here today. Judges had placed scores of
blue cards on the extensive exhibits of
fancy needlework, household products and
bread. The exhibit of vegetables and
fruits was one of the best yet made here.
Competing granges made exhibits that
attracted thousands ot people. One of
the models in an exhibit made by a bach
elor farmer was a liberty bell shaped
from a pumpkin. He labeled It "For
5t AND 10t
Flavor such as jrou never before tasted
In a Graham Cracker. Their fresh
ness, crlspnesa and nourishment put
N. B. C. Graham Crackers on the
daily menu of tens of thousands of
families. Always keep them on hand.
ml TV AVl
NEAMNG MEN WILL
ASK PENN'S TRUSTEES
TO EXPLAIN DISMISSAL
Students of Wharton School
Adopt Resolution Providing
for Appointment of Com
mittee of Inquiry
Hold a secret meeting
Btudents of the Wharton School of the
University of Pennsylvania took official
action today In the Scott Nearlng contro
versy by adopting a resolution protldlng
for the appointment of a committee to
visit the trustees and ask why Doctor
Nearlng was dismissed,
The name of Doctor Nearlng was stu
diously avoided an hour later In Weight
man Hall, where the opening services
of the University were held. Dean Mc
Crea, ot the Wharton School, curtailed
his address to the bare mention of pro
motions, saying nothing to Indicate what
had been done to (111 Doctor Nearlng's
The meeting of the Wharton School stu
dents twta held In Logan Hall. It was
attended by more than 100 men, behind
closed doors. The following resolution
was given out for publication at the
conclusion ot the meeting:
"Itefolved, That a committee be ap
pointed by the president of the senior
class, Gordon Hard wick, to confer with
the board of trustees and report to the
Wharton School Association the reason
for the dismissal of Dr. Scott Nearlng."
It was regarded as extremely signifi
cant by students and members of the
faculty that Dean McCrea made no men
tion ot changes In classes over which
Doctor Nearlng had supervision. Two
courses given by Doctor Nearlng, It was
learned, have been dropped. They had
to do with Industrial statistics, In which
Doctor Nearlng was an authority.
Whether the new Incumbent Is not fa
miliar with these matters or the trustees
decided to drop them was not made
Admission to the meeting was granted
only to those bearing cards showing that
the owner had been duly registered In
the Wharton School. This precaution.
It was explained, was to prevent news
paper men from attending the session,
and after the meeting was opened much
time was devoted to the discussion of
newspaper publicity. It was finally de
cided that every effort would be made
to keep further activity In the Nearlng
case from being published In the news
papers. Although many courses of procedure
a ere advocated as being advisable In the
attempts of the Wharton Association to
obtain the reinstatement of Doctor Near
lng, none could bo agreed upon for some
time. Finally a compromise) resolution
was adopted which provided that a com
mittee composed of 12 men three from
each class In the Wharton School be ap
pointed to attend the October 11 meeting
of tho board of trustees to discuss the
nltuation. It was decided that this com
mittee should report to the Wharton As
sociation at a meeting to be held the
first week ot November.
k .; .,- .mr.eBM aFBBflggiV' . '&KiZaS'1?- ."?
A Trainload of
Chalmers Six-40's i - q en
Seven-Passenger Touring Cars tp X OOvf
New SerrU tm Owners
Kry Ckalmtrm Otattr giv t
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CRACK. IN UMESTOffl! CAUSES
HUE SCARE AT CUT IALL
Found to Affect Only th Veneer on
North Side of Building
A crack In the limestone outer cover
Ing of the second floor entrance to City
Unit, on ths northern side of the building.
Immediately beneath the tower, today
gave rise to a rumor that the new sub
way work had started to undermine the
pile of stone which la surmounted by
William Penn's statue.
Persons having business In the Munici
pal Court room noticed the crumbling
limestone, and quickly spread the report
that the big tower was In danger. The
presence on the flood ot crumbling plas
ter nnd stone gave color to the report.
A hurry call was made for officials of
the Bureau of City Property, and Super
intendent William B. Ilowen made an In
vestigation which disclosed the fact that
enly the veneer of the heavy wall was
affected. The Superintendent declared the
crack to be an old one, and said there
was no occasion for alarm, and that the
stone would be replaced.
CAPT. VON PAPEN SILENT
German Attache In San Francisco on
8AN TOANCIBCO, Sept. U. Captain
von Papen, the military attache of the
Germany Embassy at Washington, and
Prince von Hatifeldt, counselor for the
German Embassy, arrived here today on
n vacation trip. Both declined to talk,
except to say that they were enjoying a
sightseeing tour across the continent
Captain von Papen. when asked how
long they would be In San Francisco, re
piled: "Until wo leave." '
German Fleet Active in Baltic
LONDON, Sept It. Copenhagen ad
vices reiterate reports of German naval
activity In the Baltic off the Gulf of Fin
land, but no confirmation has been re
ceived of the reports that a German
cruiser was sunk by a submarine oft Fal
In a steaming hot stew or ice cold
on the half shell, oysters are
always better when served with
Oysterettes The Oyster Cracker.
At your grocer's always fresh.
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A N entire trainload of .Chalmers Six-
40 7-passenger touring cars has just
This is the biggest single shipment of
hith grade motor cars that ever came into
this section of Pennsylvania.
Waiting customers, of course, will be
satisfied first. There will still remain," how
ever, a few cars for immediate delivery to
new buyers. So, if you want a Chalmers
now, place your order today. Orders will
be filled in rotation as received.
Wonderful Chalmers Motnr
The Chalmers Six-40 is the car with
wonderful valve-in-head overhead camshaft
motor "the 20 more power motor"
which has made "Trainload Production"
necessary at the big Detroit plant
This is the same'type of motor with which
De Palma and Resta won the Indianapolis
and Chicago races at the undreamed of
We are not certain of another trainload of Chalmers
cars this season, so come in and get your car today,
before they are all gone.
Ghalmers Motor Company of Philadelphia
arm, uu 252-254
Allealewm, ra-Iwfw At C Mrdfa," I'k. Tfcouua Hlhu.
UtUfUm. X. Jr-HH, Hcm. Mt. HoUr. W. JsaT&'tMtM. Jr
uUl 3lir Nd C
SOCIETY MAN IN AUTO
PLUNGES FROM BRIDGE
Car Crashes Through Railing
and Falls 20 Feet, Instantly
DOVKIt, Del., Sept. 24 One man was
killed and another may have met death
in an automobile accident at the bridge
over Jones Creek, on the outskirts of
OuUen Laws, S year old, a member
of Dover's younger social set, was In
stantly killed when the machine he was
driving crashed .through the railing df
the bridge to the ground, 20 feet below,
and It Is believed that another occupant
of the car was thrown Into the creek. The
creek has been dragged without success.
No one can be found who can tell whether
Laws had a companion.
LIFE OR DEATH? FLIPS COIN
Man With Troubled Conscience Then
Surrenders to Police
CHICAGO, jSept 2i.-The flip of a coin
today decided whether a man, who said
he was Frank Charles, of Newark, N. J.,
would kill himself or "go back and make
Charles gave himself up at police head
quarters. He said he loft Newark last
Juno because of financial difficulties. He
was secretary of the T. J. Mnlloy (Politi
cal Club. He said his conscience both
ered him, and he flipped a coin to see
whether It would be suicide or confession.
A New Boot For
The high curved top is new.
So is the button flap, and the hecl
treatment. We have it in gun metal or
patent leather, with buckskin top. v
V.. " 1420 Chestnut SL
"Where Only the Best Is Good Enough."
averages of 90, 98 and 100 miles per hour
for 300 and 500 miles.
It is the same type of car with which
A. E. Walden broke by 8 seconds the best
previous record up Summit Mountain,
Get-Away and Power
While this car is not a racing car it has
the same trigger-quick "get-away," the same
eager power, and iron-hearted endurance.
It handles equally well in crowded traffic
or on country roads.
The springs are long and easy-riding
3 inches long longest on any car in the
the worId at the Price-
Unusually Easy.Riding Qualities
.The seat backs and side walls are built:
for comfort deep roomy upholstery is
luxurious and of real leather.
Truly, you ride in this car, not on it.
The body rivals the famous "Coach"
bodies of other days in excellence of finish.
N. Broad St.
U a Chat men"
COAL OrXRATOM TO
Wert VirgihWktw Mt hi rtWi
Cos.! operators from almost mU 2&
triet In West Virginia met IbhZ St
loaay io iormuiate plans to cmw ,
proposed increase In shipping rZ!
-,.... ....... ,,,, ,,, io point 1
West and Northwest by the ,, ',
lino inruau in mat stats.
Plans of defense were discussed
will b presented to the Interstate i
merce Commission as soon as th'i
roads file their schedule asking fair
advance of IS cents a ton for shZL!
coal out, of west Virginia. 7 '
Any time, any dime.
indoors or out when
hunger nips, the
are the most nutritious tool
made from flour. Theircor'Sj
small, their worth U gt jj
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I Chalmers Club and CluUu
Betrv CMmtri mrr (. mMI!
a MwerMti' nf fci' M Csl
wr Cta MnMwhv Mm ( tke
court uttt 91 CKhri rwrMsntq.
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