--fr.v ' -.A- .. yvi"rt. fr-rTTT' vV ' stm- V v iiTiO'i- - '4 if,r-r IS "A EVEKIKG PUSLIG LEDGER PHILADELPHIA, SATUBDAY, JULY 19, 1319 IfnAM CfwmmM T)mM- I TYJL'VWT T TkrkTriTlrt rf-l Tli rf-X - T lflnlp w, i- .. -I..1 1... I.t.. . ih ' 'A Vtf i-..- I"? HV I GOSSIP OF THE STREET BANKERS COMMENT ON GAINS MADE BY RAILROAD STOCKS Discovery of Oil Not Only Reason for Recent Advances in This Group of Securities Gossip of the Street THE advance In the stock of the Cliicngo, Milwaukee nnd St. Tanl Rntlrnnd recently was the subject of comment In the financial district for the lust few days. ' Thote who were seeking the reason were almost Invnrlably told It was on account of oil discoveries In some of the lands belonging to the railroad. A broker who was asked his opinion said that it was a favorite indoor amusement nowadays to attribute any rise In railroad stocks to oil dis coveries, becnuse the condition of the roads has been played up to the public as bordering on bankruptcy, as not earning anywhere nenr fixed charged, that some other excuse must be found for an advance in stock prices, and ns one or twoisouthern roods actually did find oil on their properties, It seemed to him that the idea had become pretty general and with some people was good enough so long ns It worked. There are, however, some Instances where It dofsu't work, he remarked. For instance, take the New Haven, whose stock has shown considerable strength recently, but no one would claim that oil had been discovered on any part of its property. Another broker said there was.a well-defined rumor that oil has actunlly been discovered in the state of Washington on property owned by the Chicago, Milwaukee and St. l'aul. He said the property was nrtiially owned by the Milwaukee Land Company, a subsidiary of the St. Paul Company. He was inclined, however, to discredit the report until some official statement Is isued on the matter, as he understood the officials of the railroad had en tered a denial of the rumor. ' Still another broker said he viewed the advance In St. Paul stock as he had viewed several other similar advances recently. He said U seemed to him as though each group of stocks were "getting a whirl" in their turns, nnd the turn for the railroads being In order, St. Paul benefited with some others, only more so. As it is possible, he added, we will soon hear something definite about the disposition of the railroads, and as anything wo may hear is bound to be better than present conditions, the roads cannot help being benefited. It is natural the stock market should anticipate any move which limy be made in Washington In regard to the rouds. On this supposition, he said, he accounted for St. Paul's rise. Benefits Conferred on Country by Expanding Trade There has been a good deal of talk in financial circles, said an invest ment banker, of the benefit which our expanding trade after the war is going to confer on this country ; how our exports will Increase enormously : how our home markets will develop tinder the domestic demnnds which will be created through the wages made and profits earned from this increased ex port business, and how to accomplish nil this the wheels' of every industry will be running ut top speed. AVhen alt this, he remarked. Is analyzed, It amounts to the extent to which we arc banking on an export business to foreign nations all over the world, but particularly to Europe. If this large export business material izes, he said, it will certainly give our workers nnd capitalists more income from the wages and profits they will make from It, and with a greater Income they will be in a better position to spend for necessities nnd luxuries at home. But supposing this export business does not materialize, he said, we must fall back on the Income from our Own products manufactured and con sumed by ourselves, which naturally must be much less. Now, he continued, this export business, which would be all virtually velvet, is not coming to us from Kuropenn co'untries if the European buyers have to pay too much for It, and as present rates of exchange with the prin cipal European countries go lower or even remain where they are today, we cannot expect European buyers to come into our markets. This drop in. sterling, which Is reflected in the exchanges of other countries as well as (!rct Britain, is a very serious matter, he nddeiL nnd should engage the attention of the ablest financiers on both sides of the Atlantic until some rensonuble solution is found. NEW YORK BANK STATEMENT Decrease in Average and Actual Loans Deposits Are Higher New York, July 10. The New York bank statement this week shows de crease in average and nctual loans and increase, in deposits In both cases. Average reserve is higher and actual lower. Details follow: , AVRRAOB Increase $.'..452,000 74, B4I. 1(0(1 4.02H.IIIH) MIM.nOd Si.Mtl.OuO Lonns ...15,013,413,000 St- ...U. 110,0(53. noo Net demand . polite Net tl me depomte UT.rai.iiiru Circulation 37.740.(100 Cash In vaults... luy.7Si.imu lleeerve In mem ber bank 503, 100.000 31,278,000 Reserve In state banks and trust companies 11, .152,000 Il.OOo Rt-s-erve In state banks and trust "ompany deposl- torle IO,77.".OOf ann.Ono Aegregate reserve .'S.I, IS7.000 S.1.03.".,ii0u Peservo required. BH. 420,010 0,n2s.84O Surplus 41,0(1(1,900 24,32(1,(100 Decrease. tUnlted States deposits deducted. 1211.- 7S9.W0. Ians 14, W.lY), 117.000 78,70S,(IOO an demand de- . DOSlt t4.113.SHn.nnO Nt time dtDos.. iso.sso.ono Vlrodlatlon 37.772.000 Jkish In vaults... (Hi. (181,000 50,240,000 e.nnn.ooo (12.0110 4.725.000 1.203,000 .rijier banks 047,945,000 Reserve In state bsajts and trust cffpanles 11.230,000 JU-Jtrve In statu banks and trust company deposi tories ll.KU.noo AMreg-ate res... 571.145.000 Reserve rwiulred. 544,11.17.11(0 Excess reserve.. 2(1.207,210 Jteserve in mem- 478,000 1.370.000 3(12.000 n.Mu.nno 0.8S1.0I10 tUnlted States deposits 507.000. Decrease. deducted. J14II, OUT8IDK RANK STATEMENT STATU HAiMIVO Increase jl. noo. noo nio.ooo 2.0t2.200 Loans, fnvestm'ts Gold Cur'ncv bk. notes Deposits Federal Reserve Tlank of New fork deposits Resv. on deposit Percentaue of re J023.SO9.S0O 8,8(111,11)0 27.589,000 53,729.500 741. 0(15,700 108.884.800 1,430.500 2.500.(100 3.723,900 serve 20.3 TmiBT COMPANIES I-onn. lnVstm'U.12.111. 171,800 J18.4ns.40O Gold lS.TlS.lOO 774.700 t;ur ncy dk. notes .-.oiu.iuu Deposits Federal rteserv Bank of New York 280,8(1.1.300 Deposits 2,101.772.100 Resv. on deposit 818.838,800 000,300 B.OlO.fiOO R7.S11.100 7.313.800 Percentage or n servo 18 8TATE JU.VKR AND TP.UST COMPANIES NOT nEPORTlNO TO TUB CI.KAH- INO MOUSE Ixians. Invest ments Gold Currency bank notes Deposits Fedsrsl Reserve llank of New York Total deposits. . . Net deposits.. . Perrentaco of re serve $701.2O,2OO $10,324,200 10.278,400 1,711,700 17,889.800 325,200 70.409.20(1 S3l),II.VI,IIO0 7(11.008,700 3,870,100 7,11113.100 6,012,000 1.3 BUSINESS NOTES Commercial failures last wetk were the smallest ever reported for a full week. They numbered 88, against 113 the week before and 180 the corre sponding week last year. Failures In Canada number 8, against 0 the pre ceding week and 17 last year. Of fail ures last week In the United States 33 were In the east, 20 south, 10 west and 10 in the Pacific states, and 20 re ported liabilities of $5000 or mare, against 32 last week. The surplus property division of the purchase and storage division' of the War Department will offer for sale nt public auction at the Manhattan" Opera House, in New lork city, at 10:30 o'clock, July1 30, approximately 14, 000,000 yards of miscellaneous stcxtllcs, valued at more than $4,000,000. These fabrics, while acquired by the War De partment for military purposes, are nil of grades, weights and weaves carried in commercial lines. Anxiety over the possibility of ap parel manufacturers not being able to fill all orders is' leading the buyers of women's garments to make larger pur chases of the better grades of mer chandise for fall. Tlie Delglan Government lias decided to be officially represented on the mis sion, which will go to America in Sen- " temper, c-cmpHslog. nun prominent,' la commerce and industry in various of the. European allied nations, upon in vitntion of the Chamber of Commerce of tlie United Stntcs. (ireat Britain, France and Italy had already decided to fcend representatives on this mission. Inquiries for the army's surplus shoes have been received from the Scandi navian countries. Out of the ruins of Belgium's steel industry, which was systematically de stroyed by the Germans, will spring one of the biggest steel combinations in' l.H- ..Wl, SM ... .1,V.,( .,. IIIU 1111, Ol powerful corporations whose plants were laid waste have decided to pool their interests intfj one immense under taking. mi. m i . 4i. ' , The offerings at the London wool' auction sales today amounted to 8000 bales. jiiere wns n quiet demand for, scoured cross breds, and prices were steady. Federal Reserve Bank Statement The condition of the Federal Reserve Unnk of Philadelphia for the week ended yesterday compares with the previous week as follows : nESOUItCES July 18 Gold coin and cer tificates In vault. . $51(1.410 UcM settlement (und (11.010 Id:! July 11 1472.130 44.yi7.lllS Total uold held by , liank $02,420,572 $11,780,748 Gold with Federal Reserve, nitent .... 74,503,720 70,71 220 u o 1 A lold redemption fund Federal- Re serve notes 7.403,003 11.033.505 Total e o 1 d re serve $144,513,897 $127,448,473 Legul tender notes, silver, etc 241.405 304.577 Total reserve .$144,733,802 $127,813,031 Dills discounted Members, secured by uovernment war obligations $165,014,932 $173,000, 740 Kills discounted Members (all oth ers) 10,557,013 15.070,021 lillla bought In open market 758.0(18 031,237 Total bills on hand . . . ..$185,331,210 $100,007,002 IT a. Gov't bonds. . U. S. Victory notes U. S. certificates of Indebtedness $1,334,000 1,100 $1,384.0(11) 1.1UO 23.702.000 23.845,000 Total U. S. secur ities $25,178,000 $25,231,000 Total earning as. sets $210,509,210 $215,238,002 Bank premises. ... Uncollected lteilis. $500,000 $500,000 $77,801,017 $71,770,250 Deductions from gross deposits .... $77,301,017 $71,770,250 Duo from Treasurer IT. S. 3 redemp tion fund P. n. banknotes $1,175,000 All other resources. 763.033 $1.1T.1.0P0 731.572 Total resources.. $435,024,230 $417,230,877 I.IADILITIES Capital paid In.... $7,054,200 $7,054,200 Hurnlus 5.311.333 5.811.335 Government deposits 0.845,483 10.073,341 uue to members, re servo account 102,809,258 90,142,217 Deferred availability Items..' 78.570.038 00.511.540 All other deposits. Including foreign government depos its 8.442.902 1.811.481 Total gross depos its $198,178,740 $177,038.5(17 Fed. Reserve notes In actual circula tion $20!,95,82A $204,040,323 Fed. Reserve bank notes In actual cir culation 22,088.100 22,370,103 All other nihilities. 940.031 HOT. 313 Total liabilities. .$435,024,230 1117,23(1,677 Memorandum Con ttneent liability aa Indorser on bills re dlscounted with or' acceptances sold to other Federal Re servo banks $38,843,000 $30,873,000 Raynham Abandons Flight St. John's, N. K July 10. Captain Frederick P. Itaynham, the Rritish aviator, whose Martinsyde blplnne wns wrecked twice in two months spent "in trying to start a transatlantic flight, has received orders to abandon further attempts and return to England ' Wilson Sure Pact Will Be Ratified Continued From rate One Senators went over all phases of the proposition among themselves. , Three classes of modifications of the treaty have been suggested: Amend ments, reservations and interpretations. Amendments would change the moan ing as well as the language nnd would have to be accepted by the other parties of the treaty. Hescrvntions, while leaving the lan guage of the document unnltered, would add to it provisions that would nullify certain sections. These would nlo hae to be agreed to by the other treaty lowers. Interpretations, on the other land, simply express tlifc Semite's under standing of provisions of the treaty. As they would he in the nature of em phasis of such points as the inviolabili ty of the Monroe Doctrine, retention of the )iower of Congress to say when the war forces of the I'nltcd States should be employed, etc.. It might be that the other treaty powers could tac itly recognize them without having to reconsider the treaty. The President will not accept any change or qualification that will neces sitate the return of the treaty to the IVnce Conference or the signatory pow ers. Kor that reason. It mny be stated on high authority, the other nllied and associated powers are now being sound ed on this point. They have been asked to indicate just how for the in terpretations or reservations of the Sen ate will be accepted by them without calling for retaliation and counter -constructions and modifications. It Interpretation are accepted by the powers it is possible the President mnv accept some kind of compromise Invnlv- U! l":,:r,l'i,: "f r". ("" '"Ibny the consignment nutrkht anil sell the treaty. It Is said thnt he doe not desire that Article X be included in them. Sentiment of the Senate is bo im? tested on this point. It is as sumed tlmt efforts mny he made to rench some ground of agreement ns between the Democrats nnd Republicans. Japan nnd China have been urged, it is said, to make nn announcement nbout hnnntung: the former to declare the specific date on which it will leave the province, and the latter expressing its agreemeut with the terms. Transit Will Figure in Maior Campaign Continued From r-me One in control of the Vare Republican or ganization. Cnder the old registra tion board men were appointed who discouraged in every way the registra tion of any hut Vare followers, or those controlled by their henchmen. The local registrars browbeat and humiliated independent voters to such nn extent that Intelligent, high-minded men re frained finally from registering. This was precisely what the organization wanted. "Cnder the new board, which is pledged to the appointment of fair reg istrars, tlie independent citizen will be encouraged not only to register, but to go to tlie polls. The absence of police men ami firemen eliminates the so called poll-terror. Heavy Vote Expected In Fall "Cnder these conditions w look for an unprecedented registration and In addition, an unprecedoutedly henvv vote this fall. "Of the more than -100,000 assessed voters lu I'hilodelidlii not more than 22."i,00(l have registered for years, while considerably less than that number voted. This was due to the methods .iiupi.fjch uj.uie nr organization in discouraging and preventing registration f Ily but their own neonle " H i, ,,.,.. ,..,. .,.. -.. ... .j ..i.Mti.iu.M, lllllt one more name Has been taken from tlie list of mayoralty candidates. It is that of John T. Windrini. A new name has been added to tfie list, that of Charles L. ISrown, presi dent judge of the Juvenile Court. Ilrown is regarded iii some political circles as an available compromise can didate. There are still a concldernble number of peace-loving Kepiihlicans who desire to see the white wings of harmony flutter above the warring fac tions. WON'T RUN, SAYS EDMONDS Mayoralty Candidate Should Be Party Man, He Writes The type of man the Independents should support for Mayor is pointed out by Franklin Spencer Kdmoqds in ex pressing his unwillingness to be a can didate. Jlr. Edmonds's views were given in u letter to the City Club, whose mayoralty poll he led. "Your candidate," Mr. Kdmonds wrote to Joseph II. Ilagcdorn. the club's director of civic affairs, "bhould be a man who can combine nil of the in dependent strength with the largest number of ordinarily Hepublican votes. "lie must be a man of unquestioned independence nnd yet, lu my judgment, lic should have more party regularity 'than I ever had in municipal affairs." Mr. Edmonds declares the ousting of contractors from dominance in the city government should be one of the cam paign's chief issues. "This year," he said, "It must be made clear that you are not trying to change the players, but you are deter mined to change the game." PASSMORE IS MENTIONED Reserve Bank Governor Spoken Of as Mayor Candidate iVmong the prominent business men and financiers who are talked of these days as mayoralty possibilities is E. Pusey Passmore, governor of the Third Federnl Iteserve district. ' Mr. Passmore's name lias been men tioned, along with that of John II. Mnson, president of the Commercial Trust Company, nnd others prominent in the business life of tho city as may oralty possibilities. During the gubernatorial campaign Mr. Passmore aroused considerable comment when he appeared along with H. T. Stotesbury before a meeting of the Hepublican city committee and made an address advocating support of the Hepublican state ticket. King Peter Back In Serbia Belgrade, July in,,(ny A. P.) King Peter has arrived at Arandjelo vatz, Herbin, on a special train sup plied by the tlreek government. The population cheered his train at the sta tions it passed in welcome to the aged sovereign returning ,'rrpm his self-imposed.' exile irj Greece. " " ' HOW FOOD PRICES GROW WHOLESALER FARMER Says Market Plan 1 rr r LailSeS Higfl PriCeS i Continued rrom Var One out of a five-eighths basket, instead of ten quarter pecks. Kprrts Distribute Itlanie Kxrerts seem incUne.l .,, l,ti... tl,,.. the blame for high prices ought to hi- distributed all along the line. They iho ffM, -.... u . ' ...t i. ..'. ;; . nri mnrltefs most carefully, of a wasteful. nitl-tnshinneii system, which sends food ' commodities traveling back and forth tliroiigt, many hands before thev reach , the hnnd at the dinner table. The process of getting food from the field to the market is bound to be a complicated one in the big centers of population. Phlladelphians eat some thing like forty carloads of potatoes every day. Keeping the metropolitan dinner table supplied 'with the staples of life, to say nothing about the lux uries, is a tremendous big job. Sometimes Several "Middlemen" The middlemen proper the wholesale dealer in carloads of produce may work mi n .tfMiirrlit niiii in I cl 1 1 t Ini t. Is. nt ! ....... fnr what he can get. There nre some- times several "middlemen," however, to take their nrofit out of crnnds before ther ' co to the retnller. L? The farmer who raises the crop takesS the first profit, of course. T'nless hej is a very big farmer, however, he takes his goods to a near murljct and thenO 4W( 1 Y forgets about them. .. ivins the Tive-eigliths In nil the country districts nre men.' basket, the baskets averaging from nine known as "concentrators." They mny, '" eleven heads. He sold it nt retail be in business for themselves; or theylal f,,"n fmir ,rn,s ,0 twelve cents a mny be ncting ns tlie ngents for big '"T ""'orrling to size, commission men in such cities ns I ', rN ','"s,t "' wholesaler from two Philadelphia nnd New York. Thev buv , , "'l0:1""1' tn tllrc'' '-""l" bunch, n what the farmer has to offer, assembling ' .w K,,,li,IK fo.r, "" n""'1' "s,l,"r l,1,, it at the. nearest mil head, and loading T. ' ' '"J1.'1 'J' ' eta I merchant it on cars for shipment. I V ' ' n'"' '"''''' f '" " """'h. i, ,, ., .....,. '' "-old them for n nickel. for h nise.rT '",,0r '.V", T" ! Tl"p "ril- l""t.ions are for a , for himself, he waits unt.Mie ,s a , ,,nv. Tl,v m, ,lt ,, ,,,.,, car or to ready, then wires for a I nther fruits and vegetables, and com- price to perhaps several big whole- j partitive pi Ices for successive d,i,s salers. They quote him a price with would occasionally show wide varla- tne understanding thnt the goods are to arrive in sound condition. He elose with them, nnd sends his nrodoee oft" hr freight. If he does not choose to sell direct, lie may send the consignment on a strictly commission basis. If tlie concentrator is In business as the agent of a commission house, he ii.ii nn- imnnn-c iii me name ot ins employer, nnd ships it to the metropolis in the same manner. IJIg Farmer Arts Same Way The farmer with a large farm mny send individual consignments nnd may follow cither of tlie two 'methods de scribed above, either selling outright or on a commission. A thousand complaints have been made by farmers over the evils of the commission system. They claim that they receive almost nothing for their pronucis oitentimes; mat tney nre i swindled out of their just due: thnt1 sometimes when they have paid fori packing nnd freight, they owe them selves money. All these things happen occasionally. Those who know, however, say thnt the ' commission business has been put on a steadily higher level during the Inst ten j years. There are instances every now I and then, however, of shnrp practice ' nnd even flagrant dishonesty on the part of individual commission men. Price comparisons given below nre based on the report of the Ilureau of Markets of the t'nited States Depart ment of Agriciilturo for yesterday, i s The Bureau of Market quotations are for large lots sold to jobbers. The jobbers in turn sell them to retail mer chants, who sell them to the consumer. Take the cantaloupe as an instance. It is in nctive demand right now, though prices still nre high. The Bu reau of Markets reports a price range of from seventy-five cents to Sl.S.'i for "fiftv-fours," the smallest size, to ?l for "forty -fives." The price quoted Is for a crate, which runs the number Indicated; i. e., forty-five cantaloupes la a "forty-five," etc. v Always Bad Cantaloupes The retail merchant yesterday paid from $2.2r to $4.2."!, buying the better varieties only. lie sold them ut his retail stores at ten, twelve nnd fifteen cents apiece. There arc always some had cantaloupes in a crate, on an aver ugo from two or three to eight or ten. Jobbers' quotations on apples, taking just one variety, ranged from .fl to $1.40 a five-eighths bushel basket on tho vnrlcty known ns Stars. The dealer quoted bought for $1.25 n basket, paylug fifteen cents additional for the basket. He sold them nt twenty-five cents n quarter-peck. This would have been at the rate of .$2..ri0 a basket, provided there had been no waste. As a matter of fact, according to dealers, thero Is waste almost invariably and the heup ing up of the measure reduces the num ber of quurter-pecks to be got out of a basket. Blackberries, quoted by the Bureau of Markets at from fifteen rents to eighteen cents n quart, cost the dealer nineteen cents a quart wholesale. The crate Itself costs from thirty -five to forty cents, nnd there Is no rebate for the return of the crate itself. These blackberries were sold to the consumer for twenty-five cents n quart. The usual wastage is one, or two qunrts out of the crate of thirty -two boxes. Huckleberries were quoted by the wholesalers at eighteen to twenty-five cents a quart for Jersey and Pennsyl vania berries; fifteen to twenty cents n quart for Delaware berries. They cost the retailer nineteen cents a quurt and he sold them for a quarter. String Beans' Varying String beans ranged widely yesterday and have been varying greatly this last few days. Yesterday's government quotations were from twenty-five to' fifty cents n basket for ordinary green beans to' sixty to seventy-five cents a basket for fancy, with a few selling as high as ninety cents. The retailer paid seventy-five cents a basket for the brans he bought aud sold them for fifteen cents a qunrtcr peck. TomatoaH, quoted at from $1 to $1.75 a -basket for best quality, cost the dealer $1.G0 for the. supply he bought RETAILER JOBBER Til AMI YfXft for the day's trade. lie sold them for lliitf .,i,l. n m.nMlAH 1. n'Lt.. ln ... imhph miin M-i-L. i uir. ,i i, .-. ""n,nUie n ,ho denier, reduced the profit almost to nothing, counting cost of handling and los.s. W.ite potatoes were quoted at 50 to 'Vf'l n barrel for the best stock. The retnller bought them for ?(i.2." n barrel nni1 s"''' ",(,m for tenty cents a quarter 0.r.'.v rents a pe.k. There are ahout li'V,,'',"1:. ,1?,,',r,,,r ',of,kM tn '.'T ,,nl'r.,; Sold by the quarter peck this would , . nnnp two imrrrl prim to S7.!20. ,. nlnMS; arl "' r for some "". ' ', " "'.'" " "J ' ' tor a ', "1, I;. "'1"Ls'.n"1pr """"is ranging .,l ;"'-tn ',1'"i; Th" tl" ll(,'"r paid $!.. and ,1.!)0 for what l.n bought. He sold them for fifteen cents n quart. Theoretically there nre twenty quarts In h V, basket, which therefore should bring S3 nt retail. The rein lie however, computes only fourteen salable quarts tn the basket, which would tiriiif-1 uir I'uni in ,t:. iu. Icftucc Varies in Price Lettuce sold nt nrvlng prices whole sale, ranging from SI fnr n ho .,r twenty-five heads of N'ew Jersey lettuce to S1..10 for a box nf fifty heads of Now nrl- lnftn,i ..111. . r . . bringing S .lio l SI 7. Th? 'XZl paid from SI. 2," to $1 .7.", fnr boxes 0f twenty -five heads and sold it nil at the flat rnte of ten e..,,u i.. IVlcLallum Mreet m:ii wxi.ntt i.vn'k in. .h. niS-lrl ii led dMPltlne. 11 . 2 l.alli. let lllxKln. lirln i. il.l. v; , ("Vnlir.,. Street a tions, according to the quantity offered nt tin. .. Imlnv,.!,. ,..iii- i ii,i- ,i . ... ..,. lilt. ri..i Cnllowhlll streets nivl l... ,in..i..nit f,.m . the smaller jobbers nnd retailers. " ' ' Similar fluctuations are of daily currence in other commodity mark as in heef Imitee n,..l m. I T,, prir(, vnrilltions in the retail. store on butter nre more considerable than on fruits and produce, ns a rule. The jobbers In butter contract with shippers either to sell their product on tl.,, ! a Am n "... ... consignment nt tlie usual percentage, on tlie situation, said : "It is very un or contract to take it in carload lots at foitiiunte for Mr. Michel thnt This oc- n fixed percentage off the mniket price en date of nrrlvul. liuttcr is sold ac cording tn quality. Plans City .Mai hot System One of the projects forming itself iu Director McLaughlin's mind is the establishment of a thorough -going nud adequate system of city markets. In troduction of strong competition to tlie corner store or the huckster would have a tendency to bring prices down. Director McLaughlin proposes to make use of one of the new municipal piers us a food concentration point. To this pier would come hy rail and . water immense supplies of food coni niodities. Kroin this concentration point the supplies would be sent to public markets located throughout the city at strategic points of supply. In these municipal markets, which would be equipped with great refrigerators for storage purposes, food would he sold at .i price which would give the grower an i (absolutely fair return, with just hulli- cieiil margin to pay inr me upKcep ami lopi-ruunn ol tlie system. i "Philadelphia's present maiket facili- ties," snid Director McLaughlin in au .Interview, "are the same today as they (were when the population of the city I was hut half what it is now. We arc planning to reduce the cost of living to the consumer by the proper couservution of all the fruits of the eurth, by swift nnd adequate distribution, and by elimi nation of all elements of waste." Liberty Bond Holders in North Penn Safe Contlniinl From Pnce One of this bnnk, it will raise n serious question ns to whether or not the bonds can be delivered. In such cases, per haps, the bond purchasers will be come common creditors of the bank in the snme clnss as depositors. "Everything will be done that the luw permits to conserve the interest of subscribers to Liberty bonds. "We are not well enough acquainted with the condition of the bank to go into details at the present time. The whole receivership will be conducted in the interest of the depositors nnd other creditors. They will receive first consideration. "If it becomes necessary to liquidate the hank it will he done with the least possible expense and the greatest pos sible speed. The first step in ascer taining the actual condition will be the preparation of a schedule of ussets. I'titil that is done it will be impossible to nrrjve at any approximate Idea of what the depositors aud creditors may expect. "All depositors are requested to leave their account books with the receiver. This will speed up our work of arriv ing at a settlement. The books will be receipted for by the state." Commissioner Fisher arrived at the Np plaib nr drip. o Kink rotnpl m)tK pnt them. Voltlfe hnt-offTe wtr. AV your plumber (or tiafUrn Kra-oe Uoccti. THOS. SAVILL'S SONS U10 WAIXACJ5 BXBEEa: SISX bank at noon, accompanied by his sec- ond deputy. Peter J. Cameron, nnd It. .1. Myers, deputy iiltorncy general, i who was appointed to represent the state. The state Is a heavy depositor. Humors that t lie cashier of the hank, Ralph T. Moyer, had been arrested were denied by Coinmlsslniier I'NIirr nnd Attorney (icnernl KehnfTcr, m ns seen nt his home in Chester. Pa. lVputv Myers wis nsKrd If he run teinphiteil any criminal pio-ecutiou. 1 1 i ( week. ago from L's'l North Tenty-cv-answer wns in the uegntive. i eiith street. Mrs. Mojer stated today Atlortiej Ueiiernl SelinlTer pointed nut that her husband suffered a neivous that the mutter was entirely in the lucnkdowii two davs iibo. i . . . . . . , i:. i (.!;., mums ni i iiminisMoner i i5.il. i. u....... mat the linnkiiig conimissiouer cnuiu jater in tlie daj , liowcver. resulted in prnsrnite if he thnilglif t essnry witli- stnlemelils being made thai the cashier out advice from the attorney general's r ,, )n. lil( K,11(, mlti ollice. I A woman, who said she was not .Mrs. The cit's money in the North Petiti .Myrr. answered the first qui ry by Hank i not protected by surct Iwinds, stating that Mr. .Mojer was not at ao Hiding to (Jeorge M. Mnnisnn. chief hntne. Tliis was followed In a state clerk of the dl treasurer's ollice, who menl that he was not -r"iiiK nny one. stated today it is "deposited like the (.Micsnioncil, she s..t ;, he hi"l left hnme inniiev of aiijlinily else." tills morning nnd Hint she did not know The bank is one nf n number scat- when he would return. Neilher did teml throughout the i ity that was she know where he had cone, .she stated, named bv Citv Councils in which the Mr. Moyer was last s. en on Thiird(i. cm treasurer 'was to deposit miliiit Ipal night, when he visited the home ol Mr. lm"'" flee of the existing doubt bank's future the depositors, In th nlimit tli ... i. .....I ...I. it.. Ifunl i.tltr ( ,,,, in .. " ' ' " ill i in s I es.s men (ii un- nn.nn.. " "- bank building are of the npininn Hint the bnnk will ripen agi.il, with the cnii- lidnine of the people if rertnill nthc.ills are lemoved. ,, rtisnund. Says Officials The officials of the bank, which is a state institution, refuse to discuss the liisinu further than to state it is in an unsound condition. State ntiicinls say tin- probe now being conducted must I"- completed before nny report on the hank's true condition i-iu be iiiiidc. Und loans and lack nt liquid assets are said to hae caused the order dos ing the hunk. The crowd thnt stood in front of the hank during the rain jestcrdny re turned early this morning. i There appeared to be little anxiety, s hilly after one depositor was told lluit his' money would be paid him if he applied at tlie institution on Tucs- day morning. ' He was Henry Moldt. seventy-six ars old, of L'sOS North laylor street a M-ternn of eleven battles of the Civil ,.- i... .1 ;(u 1,1 ..ci,, in the i. n i ii,.,,... .I,; mnen-I mint. in- iiM".in-i ." - in-; and inquired iihout bis savings J thnuigb n small Hole in nn- m"'i- '" x,r m,,.T then state insurance has Sltl on deposit. ' ,,nnk I commissioner, deposited 10.01 Ml ob A voice on the ,sle of the bank- ,,.,., the North Pent, no one outside knows who it was " " . ...... ... told him to letiii-n Tuesday nioriung when lie could get his money. Louis II. Michel, president of the hank, arrived at II o'clock this morning, lb- refused to answer any questions and stated that any information would have to come from Second Deputy . . ll.iiiKiug i miiiiiiw uier 1 . Ii. nineroii. who is ill charge here Well, there haven't been any sin i ... i.....,lieil one deimsitor in the ' eidesM-t. laughed on tl( po 1 1 in u 'North Penn. ns he talked over the turn- hies of himself and fellows. I guest. we 11 live tlirnugu it. , Nevertheless, in many cases business i !, .,. seriously disarranged uptown . ,v n. hunk's failure. Philip 1!. Kraut!-.. I president of the Standard Dental Man- nrfnctnritig Company, in t. ing ' irred, because he is a man of the higli- i est integrity and is held in high es teem. Mr. Miner, the cashier, was tlie jbiink." Mr. Kraut?.' firm did not have its payroll affected by the crash, altlionh a number of employes felt it. One .foreman had a deposit of SIOOO with 'wliidi he was going to make lirst pay - j ment on a house. 1 The International Tooth Company, i .Twenty -ninth nnd Dauphin streets, had .its payroll money ffn- 'J7,", eninloyoc.s in the liank. and had to make huriicd drafts on other funds to meet it-,' payday nldigiitions 'llie Siisipiehinina Hosiery MilN, 'JTUO West Susquehanna avenue, lias a depo-it tied up, but had its payroll elsewhere. The paying teller of tlie hank. VA wooil H. Strung, was escorted to the hank this morning by a pn;i-o1mau. Last night a crowd gathered in front of his home nt 21o.'; Nnrth Twenty -ninth street, but there was no disorder. Tlie flopooitors. cnicd nnl to question Mr. Strang about their i ham cs of getting OPEN-AIR CHORAL SERVICE iM)i:it Tin; niui'cTioN or Bishop Rhinelander i.n the site of the iiriumsril CATHEDRAL ON THK I'.MIKM W T TWT.NTV-Tlimi! VIKIXT M'NIIAY AlTI.It.MHI.N JULY 20th, 1919 AT 1 It'f'I.OCK I'reuclier Un. It. M. ll.ilnl. ( Iinrcli iff Mfssliih. tins neit.l UKi.K.nn s NOTicr.s MantM Tin; tkmi'i.k llrofid ami Uerks st-t MOilo N ). 30IK) EirutH. I AKnoriate Pa i, tor WlUUm Djrc Mcf unly ! Iireaoln-M at 10:0 a in Al 7.1. v. m., Mus'imI Sirl. p un1 r li- rtTtion of Dr. J M.mm If.innn Temple (hirua eint-M. l'ri.ri k i: sttrk- p!ih' the Kri-nt orffiin At H 1" l'ltn-n l-xainlti.tr Paul D Kellfter. of Uatnnk'im. It . lll (liliver Hn address iMu.-trat U with, inoins pictures on Jiuw th" i-otlhi Hrift Htrlped With the War" Ho Scout trooii Mlhhlns rettv rvatl m will rhone Dlamnml 137 Presrntfrlnn AKCII ST. CHUIiri!. t8th and An-h. Ilev C K AIACAHTNUY. Mlnisui 1 tiM3 a. ni nnd K v. in.. Hv. J Gresham M.irhn Prlm'tton, N. J. 73 P. "l,.0ran HoUal uirriii.Kiii'iM ri:inYii;niA. ciilkch liruad and Diamond ta. He ADOLOS ALI.KN In r liars of aerv. Ice a durlnff July and Augunt. SaUiath School. ! 3d a. m Knbjert of les son "THE I-DHD'S SUITElt.'" 111.30 a m Mornintc worship bVnnon by Kev. Adoioa Allen ",3U p.m Services In ctiarse of tha C K Societies , Mr. Sumutl It. Hokcs will be tho speaker. Uveo hody welcome, m;om) pkkmjytkkian curiini lnt and Walnut Ma. HV. AliKXANDKH MacCOM,. D. I MlnlnMfr. Mr. HA1.PH 1! NnsiUTT. Alatant Mr. Ni:siHTT will nrearh at U o'tlmk Sermon subject, "ThreH AtMiiidra Toward M'n'H Kundimental Weakncas " Visitors and eppecial.y n.n in uniform nre rordlallv InvttM to Rttind 1'nltiirlan HST IMTAKIAN (III'IUII U."V i l ttnut t. I n. FIllUiKHU'K U aitlKFl.V MlntFter 11 a m Huv. W. A. Vroonian, uf Wi.- mlncti'i) iiU preach. IMTA!UN Ot'llCTV OT (ilcTtMANTOW X i L'nion serlcp-( July a-Sptembcr 7. in i ciuhiv at tns l-irat Unitarian Church rhcr.tuut at. above L'iBt. every Sunday nt 11 a. in Kev W . A. Vroomaii, of Vil- i mlngton. Pel , will preach. ' All are invited j j Mlftcellnnenu j islMI'MIN IIKOVK I l-AMI'-MKIfriNH AND 1I1III.K CdNrEIt i:M'l'. July IU In Auyu"t i. ut Tinoa. 11. ... HI.) Urf.lnkl. uml llau.lln.. t. .!..... I it, "i, . ...... .... w .u ..v..... it..i,way CjpI'J of rroerum will be furulHnetl on f fiplicntloti to Jlr Ooorne W. nice. Tte one. Pii. Ulbta Conference will be held July :o to Aoitust 4. and will be addrewet by Iter W. C, Sandereon. Kev. John C. Slerl and RV. aindtlona Holm. J, D. nil of their money back. Patrolmen were on guard at the Strang home last ' night, however Hold Mo;er Kcspoiisihlo Ralph T. Mojer. cashier of the bnnk, I ii ii.-iu rcsponsiDie ir the failure by the rrmvds Kntlirroil in front nf tlir In- I. Mltl.tinn It.. .. ....,,' , .. : ,7. "'i"'i i " in hi. mi iiiiiuu ni iniru streel iimi tnney aenue, to whir address he mned .1 ... .... . .. . . i inipiirjcs mane in me .Mnycr hnine .Michel, uie presiuein. lie was s"'u earlier 111 the evening nt the Michel btkery shop on the so,ith..ist corner l i inn v -nisi anil i Tine'iui j-ti..i-. ,..,,,,, of the neiKhbo-hood i.l.penr i.i.,i,ui ,, ,, I r, ... Mr . 1'"V tit- highest leg.ird fo, Ml. rmmM,nfr nmldsnu. ' Alll!l, ,,.,. who sin- deil ' hanes ,. .mi I tefiiseil to discuss tlie alT.-iirs , ,., , .iu,.,,, the ntTairs i.f tl bank. He tat"-d today that it is n 'question for ml Mr. I'isher to discuss Mr. rishei retusul to talk on tins question. r.fforls to verifv rumors from llarris Imrs thnt the b"ik holds the notes of men hiu-h in political life v.cre without tCMllts. Mui-r.iirno to Take Charge I Tlie luitikilie commis-ioiiei iitidi"- the law liecomes I he i ixcr f the b.-lllli .mil is nuthnri7eil to name a special ilcnntv to do his work. He immediately mnile'out a commission, naming .lames V Miicl'.uriiev. treasurer of the Ilad dingtoti Title and Trust Company, or Philadelphia, ns his special deputy to handle the affairs f the bank. Mr. Mncltiirue did not appear at tlie bank up to 1 1 o'clock today. The bank carried about MOtl.tKlO of 'state funds. (If that -"'" -- " 'J tlill-t of tin- settlement of the ,-llTalls ol the Pittsburgh Life and Trust Com ,,... . Iiii-li Pj'.j ''( closed al a loss in us r and a half ago. imnn. .... ... ....-...-.--- - drawn Iro mine o.iuw nj .m. innnini-".... when In- succeeded Mr. Anibler. and it is i-iiniorcd that he planned gradually to wipe out the deposit by transferring tlie funds from the North Penn liank to other institutions. There was also in the bank n fund of Slid. (100 realized when tlie affairs of tlie 1'nion Casualty Company were cleared up. I ntll '1 uesday there was treasurer's funds . ' - inMitlllin, it ,,-,,. ., stHt(. llc. .,oc;tnrv mt ,, that day half of that mm t;0n. wns transferred to another inslitit- srM.iir.rc t-AMrs ..llllll .r,. ...... -,- - - Ji . .... f.. .....1 lln.. GRAUUAIHNU t-sKAMIVlAK SCHOOL BOYS All the lellows say, Seme ctnus. nitty And Fpi-frt oh. boy1" Your vacation will net be cnmpl-'te unleis von Like 11. II. with you Is tMck.-il by thy l.argeil IIiiufh ot It? kind lu tin- country Our beautifully I'ma trated cataloeuu tells th story. Free. Writ t on- to novs' wui.t.i'Aiin ni:i'RTAtrNT CM Mltl5KT ST. I'IIII.AIllr.l.l'IIIA. PA. CHILDREN'S WifU XV W4H.I4L. ILIll ' !,l,;li r ii-sv Kreet .1 tint tor i i,VmT (ni'''m ,n '" ,r,,n' .JHVjr-' . J .,,r villi iln th'in l... 1 I.0I5 -r run rmt 'iu. .e s , utn wlilli. r-nnun tlurl. rulii eln.s nnd ropf-a. Virile for catnlnc on lurcir sl?r anil latnii MUUil-cs AH.MV SUI'I'LV CO.. 031 MAItKKT FIRST-CLASS AUTO REPAIRING I nv t prkca conplsWnt ul'h g oi work- """west arch garage 6237 Arch Street SIMPLEX CARS 38 H. l Holhrook Limousine ' 38 H. P. Rogers Limousine ! 50 H. P. Holbrook Touring All Shaft Drive Thornton-Fuller Automobile Co. Parkway. East of 18th St Philadelphia. Pa. sTi:usiiir Noriri: Vacation Trips by Coastwise Steamers No better way to put mind and body in perfect health. Exhilarating days and balmy nights. A restful and invig orating voyage. Fares include meals and stateroom berth. Excellent tail connections to and from all Southern points. OLD DOMINION S. S. LINE, for Old Point Comfort, Norfolk, Newport News, Richmond. Va., nnd all points South. Leaving daily except Sunday at :! V. !.. from Pier 25, N. It., New York, OCKAX S. S. LINK. Monday.; and Thursdays nt 3 P. M., from Pier 35, N. 15., New York, for Savannah, Ga., and other Southern points. SOl'THEUN PACIFIC S. S. LINE. Wed. and Sat. at 12 noon from Pier 18, N. R., New York, for New Orleans, La., Gulf Points and Pacific Coast. For passenger Information and reservations apply to Con folidatcd Ticket 02kes, 15S9 Chestnut St., Philadelphia. Phone Locust 5S00. J. i. BROWN, C. P. A., Cemtwhe SleimiSip Linc, Pier 4D, N. R., H. y UNITED STATES RAILROAD ADMINISTRATION Director General of Railroadi , MERCHANTS: If you nro a grocer, druggist, hardware dealer, tobacconist, clothier, furnisher, jeweler any hind of i ttoreheepct you shouldn't wait another day before subscribing to the Retail Public Ledger the new twice-a-month periodical for merchants only. Subscribers say they have been waiting for it for years. Not a trade-paper, but an inspir ing news-magazine that interestingly tells all sorts of things that merchants want to know. Business problems salesmanship, buy ing, accounting, the handling and training of help, credits, delivering, advertising, collections the Retail Public Ledger tells how they are all being solved in successful stores. Entertaining fiction dealing with the sentiment end drama of storekeeping, anecdotes, verse, pho tographs, news, of big movements for merchants' benefit threa pleasant hours of entertaining, helpful reading in every issue. Sub scription price, 10 cents a copy, ONE DOLLAR a year (24 issues). Just slip a dollar into an envelope, with your letterhead or name and address plainly written, and it will be sent on tho first and third Tuesdays of every month for a year. Address Retail Public Ledger, 220 Public Ledger Building, Philadelphia, Pa. Do it now Wl'nunfi Tljiniatrit 'tiiui. juhwh Is Beaten in Vote1 fonllmirrt from ran Ono ,,! li,Mnln(c,l He declared the v silt MM tins-. ,.. .... ,.. ... It... A 1 !. 7 " ' "T """' . "''I'l'iuicu ujr - - ,i wave nt laziness, winch is inomen- inrilv sweeping over the country." The explanations made by M, JJoret-t fnilcd to satisfy the government's exit"1"" ics. M. Augngiieur then Introduced the resolution, the vote on which re- ulted in the government's defeat by ... fourteen votes His resolution rend: ua "The Chamber nf lleputles, remark JJ lug Unit the cnt nf living had dimin ished by ntie-hnlf in llelgluin since Jan uary . llllll, and that It has diminished t bj 2."i per cent in Iinglatul since the armistice, und thnt it liasi not ceased ij to ineieiise in France since the samo " ' (lutes, .iiulges th onomlc policy of the. jj" government by Its result.) and passes ti tills order of the day." a The political consequences of the vote& nppnrentlv did not appear clearly tojf tlie chamber nnd the memliers contln-'T ucd to discuss other interpellation? un- sfr til the Socialists interrupted the pro-jij', ( ceilings with cries of: iiv "Nn. No. Tin re is no longer any government." Piihiienecr nnd 1'relclit .erilco M'.W YOKK to LIVERPOOL " f 'armtinm July 2211;, Orduna .. , Cnrmania .... August 9r I NEW YOKK to SOUTHAMPTON Aquit.inin July 2G j .Mniiietania august au NEW YORK to PLYMOUTH, li HAVRE nnd SOUTHAMPTON Royal Geoi-Rc July 265t Royal Georpo August 30'"- NEW YORK to PLY.MOUTII and ; CHERIJOURG i Caronia August 9t'-' NEW YORK to PLYMOUTH, ' HAVRE and LONDOiV , Sxxonia August 20a: NEW YORK to GLASGOW Columbia August 30 u- ' NEW YOKK to PIRAEUS j Pannonia August 28 BOSTON to GLASGOW u i Scindia August 16J PHILADELPHIA to LONDON Vcnnonia July 255?' PHILADELPHIA to AVONMOUTH Vcnusia August 5r Philadelphia-Bristol (AT,K3?,h) 7 Dircct Service Pier 16 South "' 1300 WAIAOT M'.. 1'1IIL.DEL11IIA Brooks Steamship Regular Sailings From Philadelphia and New York to Copenhagen Gothenburg Christiania Helsingfors Hamburg Danzig S. S. THALA July 25 S. S. AIRLIE July 30 S. S. BIRCHLEAF August 6 l-'ull cargoes to nny European port. da-- A-l llntlsli I.loyis Full Brokerage Paid l-"or Hates and Particulars Apply MEGEE, STEER & CO. Acents 461-67 Drexei Bldp., Phila. IIKI.I. I.OMIIAItll 230S -f 1U JAVA-PACIFIC LINE- SERVIC rr IRECT SAN FRANCISCO TO i NETHERLANDS EAST INDIES I Ilntuvlu. !-aiuar.uiE, Mierulialu, Macasaar-rw Sailing dates and rates on application. I S. R 11ITXITON S S SOERAKAIITA & i S S. IJ1NTANCS S.S.TJISALAK S S.NIAS fr ,1, 1). StirftM'N A Hru. ('.. (im. Actg.rV Otlice, 2 Pine St., San KrancUco . N Y cmc. 17 Urtit ry 11 H 13. Huniett.Ayt. rii if, fc fi jrv 3ft 1 I TKMSiril' MITIfF.M 3 torpor S $$ im; S? t in & '$ e A 1 I' I ! M 't ii i-31 a 5 T ' '3 t'A I Iff 'tft '1 ft i s G rt j I ti,,. rP 7&i ' ' ft' if1 , 4 I" "J ', K' V . s. i t A- r$jp'I 4$- H '& t, 'sJ s.,-., i.'lto .'fl 'itfbl IFttWa
Significant historical Pennsylvania newspapers