,JT . H(!eSStfa,itw v " Jf- i.Vmk " " v rv.riVf 'j-f iVf " i"!,""" ""Si iAJRJW -V V ' 10 EVENING- PUBLIC LEDGEK-FHILAJ3ELPHIA, SATURDAY,' frJEBKUARY 12, 1921" ' foSfi i 'W (iViV ' V ftfc""Trt rt ?p$) If. "ft - tilth 3KI '. ' . K '(..' t t IR.I T l- s J H V ffif V w 'Vii I GENERAL ASPHALT One of tlie business romances of the market tremendous natural re sources, values unknown small floating supply of stock a myBtcry issue a and speculative favorite a careful anal ysis and discussion other rcaturcs in 4sfc for a copy PE-Si MARKET OPINION FEINBLATT & CO. MimUrt of the Phitedtlrhta Stotk Cxch.mee 139 South 15th St. Philadelphia ritieuBtll S.nc. 7H7j K.rit.i. Ract HOt Charles Jackd, Manager Dlttcl PtleaU Win la R.H.Mac MASTERS &CO. Mtmhrrt Contolulnltd btoi k Kxr of.V.V. 82-84 Broad St. New York Wanted, Salesmen lijr f.tnMl.lirit IriYe.tment Limiting lintur wllli nrTIrr In riilluilrlplilii, llnltlmorc Hnil VI H.lilntlon, V.x cellent otuinrttiiilti. (nil 10311 Wldener Itullllii(r. FOREIGN BONDS All Issues Stmt for ifeto ltd circular I. Vr. Stl FARSON, SON & CO. Wemhere Nw Title Strvk Urchinx. lift nROADVVAT VBW YORK PUBLIC ACCOUNTANTS T M"ECIAT.ITS Part time bookkeeping, moderate cltiirir., KEYSTONE TAX AUDIT CO. oo3 iwnMt y ni.no. t-uruco 3530 J. M. SAILER C. S I'ATTON Sailer & Stevenson 3D AM) CIIITMT ,TS. BONDS Tax Tree, Yielding !, to S P. J. VAN BILLIARD ACCOrSTANT-AL'DIIOtt SpnHaHrtnj in ixdfrai icomb tvxes Jermerlu ulth fnoom Tax Pall Jlnrrnu ff lnirnnl Rrvmu inn nrr, f.tati: tucst tilixj. Svv.-- Ml Pf 1IT Lawrence E. Brown & Co. CERTIFIED PUBLIC ACCOUNTANTS 1030 nEAL kstatk tkcst ni.no. lnvKtl(it nnd udjiitl tartnrrtbli od lnrome Tsz Krturn. v - n H- L- SMITH & Co, INVESTMENT SECURITIES J 009 Land Title BIdg. Sprueo 6721-2 Moore, Swartz, Hindle & Clark ACCOUNTANTS Ikobc Ttx Cott SfittBtAsditi Sprat 1H7 UKEI) llllLDl.NO Stochwell, Wilson & Linviil Certified Public Accountants Land Title Bldpr., Philadelphia 1 NII. NOT1CK 01 KhllLMITinN 01 Al I I'lK-iT MORT(l(.l. TV I.OI.I) llllNDs lie uktiii uihM clT uirn iomi'vm omen oi iiKTiii riiFM cit ir.n comi'XM B-thlt ii-m Pn January;: If-' Notice Is her. Bison to O-x Irll-' f olllr ot al. th oi stundlnK bon Is or t llothlsheni i.i iter i ompiw o' "',', si known is I M rtgjc" e u' ' Ilonds ' t-irl-j J i e j'toNt A v 1!H. rerar .1 i . 1 .i I M Ti u' !" "J Wai. ivmr, f i r wiihtir Trunt ' on.- tar n L T Wilbur Trust om e'li fhe n p.nnalv-m.i. T'J,' d ir t iiltU'i c' ie 'V?,,ry, n Nwrtnarrr"un i iuit. re "V' IXlOlAT .J Ui. I" M0r,? Diiny of HeMi fhe n V nna l-nia. T-iHP ana r.t ro d of Ucrds Ullll. A Hook VoIumA Numrep UltJ 1'bb i, n?Y'f Aca Hook Volmi - Vumtor 1W ,al-' 'Ml Wll VvlUWI U . M ts i Kid Trunt pf J - Mvv" aim m bonds, and i n - i i '' t th H "l i! I'tP' h ii h out tan J'ltfl fJ(crt t ..' "X if benri ih ir 1 T v ' " ' vv, i' i i lvl' 31J iinr u .. r- . m eaM Uon nnd ptiw '", a J itri Vreb 9T4 to tl 1 e" 1 r etry c'lifl 'if- -tV. i r r . ' ..' : '1 llie llrst iln .if viarili. V 1 l',lh" Trust I'orrpun. I ittl r. inl I"""' way. In tho cl cf Htl- ehem. PT.n"'iv nl. and that lut-rnt uron iald eo-o '"J ind each and r.i ' the o rstondlns; By i hereof will teas.) from and after tre " diy of Marrh A D 1031 .,t,,t " ' iVit. AUe.t A P MI,Jr in roar tn A1n A VVnlUer, u' v . li Phlladalfil la I'j I -': Jiank-r S . Ill v Cd V '. i f rhllndelplu ' n Pn -- rlofe o! builrn.s IV -n - ul' VPPKTP faiih oi herd V - ir' r lu from C S nai, ta bat h lurnhurs pnrl fUtur Loans, w.th anl wlthMJ' c a OhS 07 s." M s::i on Total , Capital .n I lCI eattd . ITtFS Ji',00 'if Total Htnte Hlphla J (ftu't OR A r -' ' ' ' ' oert A lo and Al' ' 10' dn iiolmnii '; --t Is trut t i' e imt 1 le'.a' tf 1t r t e VV A I.t'-na.-' V vv-aikcr that th- an e 'a' if our kri v,-due a (Sltnedi M I I ALTs ALIKLD O WAt JsF.Il I i M " tefo- mo 'h's Subtrr bd en I Ittli day of Jar -i irn n V.21 (Slcnelj "1VX Notar u! S-a nosiF.vnM'Ti! No'ary Tjbl " ZAHTPUN ITTItlll.l I M Q? ' ' " It T Mnnri.At.i. )'. simvino i mi nnn Undor lr. i r i t 'li n r-osBe pro poaala f,r "h . . . ' ',- 1 lee I ' 1 Hill b rer d c mi .1 o'clock (i rn . I e' ruary IS. IWI "l . . f T e l'-nnrr vanla Oimpir ' - I i-an. c ' w uni Orantlnv K-1 n rp. f r "'''. !t at tho Initlt l- n X e" IK 1' - r1 -nied lnt-r, at f h rrs-v hor d 115,000 00 'l ru has bordi n orrr1 anall b urn dr I fc -demptlon on (it befors M.ei 1 1 DL I A I fndera ihould be uddr-ened lo lh un I. rsiaTied ...,.., T1IK l'hS'V-iM.V ANIA I VII'VVY For Iniu'aeca m ll" n 1 cranl'i Vnn ittleii TruM R17 rh-tnvj ''ret' Phi a ra Tntlera for "'nkln Kjrl i:iarn IMro'e'iTi Cn . ' jJiiTicl: ro inn urns (ir Ellin LICillTIMI COVII-VNY I Mrt MortKuxe S'r Slukiine Kniid Ilonds llndar the tetma of ih mrlxain fld ro)0.aI will bs rulied un'll 3 p m, KbwarT Hlh. t tr. offlcH of the Trune Jor the. aala of a many f anil .bonds a lin la purchai'd with ih. mm nf 13.' S.'l A. St the 10 'eat P.lca not ..ceedl.is I OS anl Sceruad interest A I vrpoaala ahou d b mMr'i'lle P E s S s Y I A N I . COM 1 ' A N r l'or Inauranrn ui l.iiea und Oran'lng Anultl... Trua.ee pMU pi Tropoaati for Mnkini: I'und Krla Uiht inf A r-! vrvnlttlAUV 1. 1UJ1 Miner. T(l 1101 l rWaK k MliRTliAliK IIOMIM OK 1IIK lMlilKNIX IKN OM. Under tli UV1'.' .. .. ,k. t,..i,i,. ifunrt MKiilod nro Srovla on of tha hmn w I'. fioaala will ' r- e I ntu ' ' Ti.Z tail, llialunf II' II n! 3 n'rllilK P. in m r of tl e Iru t for me su. i' i r,-.-i -,. II a aid bonda at 'he w r m I in In n :V10 rxeiedlne in.' with fu - H".l lr' rsi 4 TIIB l'KNSHVIA VNIA cr.MI'ANT l. low -w. -;-- . ... .. ,,-, r'ven itiJ oi sr inaurancaa on l.tvsa and Urantuu An nulll Truitet. 817 Clifitnut st , Pfcllu., l'a. STEEL MILLS OUT FOB NEW BUSINESS Public Midvale First to Mako Reduction Move Started Somo Time Ago PIG IRON MARKET EASIER New York. IVh. 12. lpectntioiiH lme been fulfilled In tlio Mrcl tratlt nn'l t!n pri'diction that price t eduction would b brnrd of In tlm near future Imvo been conflrined. Naturally stieli h drastic rlinnge In the situation i frauslit with potsfbilitlcN mid at tin present timo conditions arc finite olia otic. with no one m illliiR to mako n foic ia"t ns to what might be expected of tlio future. It linn been falrlv evident for omp time tlmt more than one Independent tccl compnnv would be compelled to ower prices in nti effort to jret business, filthoiuth there are mnn of tlie lend inu authorities who itvit tlinl iic!i action will result in dcmornJlation luncmp the bujers who nre not ovpeiti'il to limb into the market whin there in even a remote possibilit of a pi ice w ar. While the first official admission that prices were being reduced came dur Ins the last week, the (act Ik that scv-j oral of the independents had been nuietlj quoting lower figure whenever an at tractive inquiry came Into the market and pant history has shown th.it ucli methods arc always fo'lowed b open reductions There is no doubt that the Midval tcel and Ordnance Co.. which made i the lirst public reduction, official ad imttlns: that the had decided to go out after business, will find cnnsidernhln lompetitiori from other indcpctidcni lompanie. It .in be stated on reliable nuthoritv that tun plans of the Independent call for a wnce rtduction of from 1," tj -." per out lo be effu'tho m the oungstown JNtrlct on or about IV-biu-ary 15. and Koine lntcrcstt are of the opinion that becauii of this proposal the iirice reduction was n'lowed to be come public, so as to intluentc the nt titudo of the workers In the matter. This permits the nrgument that the lower quotations arc responsible for the wage reductions. Considerable talk has again been heard ot th ditneuttv that might de velop through strenuous competition for domestic steel business from foicign countries. As u imittir of fact, th"1 ''The Recovery of Business and the Return of Normal Conditions" A most important discussion affecting your futuer invest ments, in our Feb ruary Bulletin. Your copy will be mailed to you upon request for Booklet L-22. Hollister, White & Co. I; cuVi tatrd N'orth American Building NUI-ADEMMHA IloMon rroildfnre Nf orU prlncflId I'lttstlrli I'orllnnd Dividends T1IK ATI.VNTIC IIKn.MN(. (OMI'VM 314 PanuiiK live.. Thiln . pj. At a meetli X 'S the board of J' r -, ntl Tibruary 10 :n.l a dividend f lite dollars n r tiar'. 'is dclatd on thu -omrn r t'tk .f the icmranj ra"''"' March IV 1831, to th stocKhc rtcr (,: record nt th ri0e of duiIiimi rebrudr 21 1UJ1 ( hecl.s wl I be nia'led W D ANDTPSON- Srn-ctarv Office nf The I nlted Out Inmrotc mpnl to VV turner llroad nnd Vrch -Ireets l'i i 1-lel ." J'e -m oi s y h I . r. '" ' 'h s ri in 1 a qi.' r .1 dur.' un1. and thret-iiuirtei . tr cent. 'Sl'te per ahurei ,- iit i refrrr 1 -tck r 'his i impni pnnMr Murrh 1,1 I'll I. I v ir sf I" ' ri ' l .Storlv ,,r f,,ii h, '. o' ti.sir. 1. r m ., 3 tJl . i. i 'I hi ma d I W vinrtisis. JJ'nirtr jzri miktii riui.i)i:i.riiiA tulmt fc- ' COVIPIM Th Hoar I of Dlrectora haa thU da doclared a Qjnrterl dividend of 4 per cent, payable Felirnarj- 10, to s'ock if r irJ retiroary 1 l'J21 ("heck ll tq ir.ai.ed nUlRY I' cOItHIITT. Se. retary rhlade'Flla. February 8. 1021. ( 4 rT'EACII economy ; I one of the first It bcgin- with money." ABRAHAM LINCOLN $250,000 LIBERTY BONDS have been purchased in amounts of $50 and upward, since October 1st, 1920, on our TEN PAYMENT PLAN Call, Write or Telephone Commercial TPvUst Company Member Federal Reservo Syatcm City Hall Square West leading authorities lmve dated that tliciu has been no impoitnut coinpctl tiou fiom ubioad In Iron and steel piodmt-. Some imports have been re pmtid, hul the foicigners lime not done nun h inoie tliaii reach our teaport with siiiall quantities, which wire ills posed of within trucking illstiincu ol the nui t of nniwil. Some authorities state that about tin bet biiiuch of the industry ieccntly lit- been for truck accessories from the salt rciius. u ins bUMiuviMi nas oeen cspecinii good from the western loads, including tie plates, bolts, angle bars, etc., nnd has led to the opinion tlmt the western rends are planning rehabilitation on a fulil laigo scale with better wcathei ( conditions. I 'I he pig iron market continues to dls pln an insur tcudenc. Reports from, fouudr iron were mnde there ns low us 1 llLILIlirKU PL III llllll. raivi ui tu. m JJ'JS ier ton. Hirers nie not in the maiket nt the moment nnd furnaces nie compelled to force the issue when mak ing sales. This necouuts for the low quotations. At Hiiminghnm, the week staited with Iron nt i?H0 per ton, but before the end of the week $1 or moio per ton lower was paid, nnd offers were reported lu the maiket ns low as ?-7."iU per ton. The extent to which production in the steel industiy was curtailed in .lnnunr wns shown bj the statement ot the American Iron and Steel Institute, giv ing the output of steel ingots for the mouth n ".-Ol.SOll gross tons, com pared with J,:U0,:UI." gross tons in JJo icmbcr, and with II.'jm.OlD gross tons in Maieh, ll'-M. the high record for that jiai". STATE OF TRADE Athough there 1 .is betn little chango in gen. -ill trado mi dltlons during the lasl weik reports show taut the olumo of business continues la fair volume, of tli- Important brunches It Is said that tho mqinrel trndi Is doing tho beat of am, with s'lks and cottons taklm? tho It ml This no doubt Is u lestllt of tho showing of new -piing fabrics, which are tho chief center of Interest. Thero Is almost no furthei bujirp lu the liiilc Imliistrles such as Iron, steel, coal At a building materials, stag n.itloii conilnues nnd prig's arc inclined to sag In the copper metal market tin re is a sliongcr tono as a result oc the pooling opet.itlonn lo linld copper for cpoti TIiti bns been neither a de crease nor nn lncieae ot unemplomcnt. and tl's'ress Is limited by the mild weather Crude oil pilie.i (ontlnuo tholr downward swing but on the whom pi lies 'f moii. -tabus tbun In the Jajt . eight i lonili" . , 1 'Ciosj mrrents and lrrrgulnrity fea ture the gcnerul iorniiie-i l.il nnd Indus i trial situation, and broad general chnr I acterlzatlon t dtlllcult indeed, well ' nigh lmposible sajs Hradstreet's "l'or oet a month past tho so-called npp.ircl trades tin u in th best reports, 1 whereas th Iron steel onl ami lumber and other liius of build. ng supplies ofTer the Rest Batlsfactor advices Of tho former. It may bo said that while mark edly favorable changes or gains aro not I shown as compared with recent weeks, few backward steps are visible, nnd the contraot with tho reports made, two or threo months ago Is much In favor of LUirent distribution. 'ijeneral distributive trnriq ! per il" better and while tun ill jnd-oftcn bu.vlng lutes, there U more llfo nnd hope In 'rade and !i dustrlcs ruling to thec ine-. Ksniclnllj Is cotton manufactur n g ni"re ai tlvo than It v.as two months ago, and Ulndrd and l elated trades, such ns mill supplies are more optlmln. tl- Wool hu lug Is nearer nurmal than for months past " nun's Itevlew Fas 'The irregular ities which still characterize the busi ness situation are a natural accompani ment of the process of cconom'c lead Justmnt With conlllctlng forces in operation, commercial rovlval has not come In nil quarters simultaneously, and a definite turning point In ct to bo reached in seme leading trades and In dustries" VASSAR RECITAL TODAY Miss Sydney Thompson to Present Plays for Scholarship Fund V leeital will he given nt ":80 o'clock this afternoon in the Acoin Club for the benefit of the scholarship which Philadelphia Vnssar nlumnao grants annually t a cirl from this vicinity. Miss S)dn.y Thompson, of New York, n "islet of Vnnco Thompson, cs savisr and cntie will uppenr. Tho affair in to b" gnen under tho auspices of the Vnn-jr liolar-hli committee of this city Miss Thompson will piesent two of her original plav "The Missing Years" and "The Letter of Introduction " She will itnpear in costume in "Aucassln and XicolettK. Thi I,ndy Turned Serving Maid. ' and when she gives four Moorish ballads BOY MARKET WELL STOCKED Chestnut Street Concern Learns Youngsters Are Plentiful I'ho nuV" bit mnik t v. ems in pretty g 1 I an t' esp dav-. I iftv iji n'lreiiot". nonr. or them past tin ii iv s f i ial s tin 1 1 1 1 1 1-. nn u: mnnufai i' i nur h After Mh'iul Wo 1 1 in i- Iv answer." I i ' a i I si nut stict i-i fm "lloys for ' The young lnbor entlm-iTts snniim 1 tho doorstep and blocked tue sub walk I'innllv tin- duor of opportunity was tl rown opn and the young men surged in to seirih for empluvment The great inuble would bo to pit k tho most sult uli'i" candidates thev nil looScd alike. that is virtues. saving ILL STREET EYES EUROPE'S DOINGS1 Financiers All Cautious Pend ing Settlement of Repara tions Questions TRADING MARGIN NARROW New York. l"cl. 12. The New York Herald's litiancinl review of the week todav reads : The last week presented several conspicuous features, not the leat so being extreme slowness In securities dealings Without any sign whatsoever of public interest the floor traders quile obviousl) wearied of Hie futile glvc-nnd-tnke of ptofcsslonni operations when fluctuations In the main were confined to fiaetionnl Hints. It wan nn alto pether profitless business, nnd lew and less spirit was shown in conducting it. Wall street has nlrendv prcttv thorough1- nnnly7ed llie domestic ehuatlon nnd has come to the conclusion nppar ently that prevail ug inertln represents prudence with n bisis in the view that this country can proceed onlv to fnr in commercial nnd industrial revival until It can be known w.th some degree of certainty what relation the ultimate adjustment of tho Versailles treaty pro. visions shall heir to Europe's rehabili tation. It would nlo like (o hnvc some conciete idea ns to what the new ad m'nlstratloii at Washington will do by wnv of forbljn policy. The Sups chip Council will meet in London on Mai eh 1. nnd the Germans will be repiesented there by statesmen with proposals to make. The nego tiations will doubtless extend over a long period, although It is entirely pos sible that the up will be revealed be foie full ngrcment on indemnities and reparations shall have been reached. Walt and see was the watchword. Meanwhile Wall -tiret can scarcclv be in n position to di"ount probable linn- pen'ngs. I'mler tho circumstances the stock market mnv be said to have be haved very well It was neither wenk nor btrong. The tnhnicul position fnv- ored n lirm undertone hecnimn of n large short inteiest nnd the nbsence of offqiings in volume. Whenever there wns n ,lon1in !, tt.t ..-.. I.......1.1. ,,'KJurru ji'sieruuv at a (iiflinci conicrrncc E.m.-i.l-0! ?f ,"VVJ'?.uA,l.t?.!" of the Industrial Relations Association Into "fa Th - ttronc ha,.E t Orhr hnS this buying initiative was feeble. The probabilities were that stagnation will continue into the early davs of next month since t'int term will bring in the Hnrdlng legune with all that such an important change Involves psycho logically, nnd the actual treaty "nego tiations with their daily influence on sentiment. Credit Hiirdcn Distributed A new angle was presented In the coiintrv's credit situation. Prior to this week New Yoik boie the brunt of tight money conditions and this was reflected in the hardening of monev rates. Tho interior drew heavily oh this center, but indications now begin to point to a more equitable tlistribu -ti'n of the bin den. There was some evidence that funds were directed this way where they could bo loaned on call at 8 per cent in the first part of the week. On Tuesday the call rnto was marked down to 7 per cent nnd some out.side loaning operationa nt as low an 0 per cent woic reported. Loans were made nt 7 per cent all day on vvednesdnv and the same oil Thursday and Fiidiv. Transactions were not lnrge. Signs in no one financial center could bo taken ns representative of con ditions throughout llie tountrj. fredit was atiH stinined in tho I nited States whatever the momentnrj manifestations might be in New York. Chicago. Philudelpliin or Boston. That a large amount of liquidations will be forced by the fnd of Febiuar.v was the opinion of bankers here. Agricultural needs constituted the kevnoto. As the planting scubon approaches applications , 10 i no unnKs tor tlie seasonal accom modation begin to come in. These, ap plications, according to reports from farming communities, are none too readily granted for thp reason that farmers have found themselves unable to meet mdebtedmss alread.v incurred The stendi tlci line in Federal He- serve note circulation and the lnrge1 amount of financing leported from da) i to day supplv ample explanation for ! the caution of the banks. Tho jmmedl- i ate outlook for relief is not promising. ' The government offeied a new issue of rrinsiirv cfrtih. ates of indcbtrdinns fot $100,000(1110 nr more nt r.'2 per cent, i A vndi. ite rf bankets Fought StO. 000 OllO ot f'np,vir l'poit Association nods Ijiai iic s i-r nut to inn ser allv for n maximum of four tears. m Mired bv -If iff oiiii.oco pounds of the red metal at a . i i moo of ten cents n i pound, win. li is to be trusted und with drawn nt not less than lti'j cents a pound, thus removing tlie metal from sui plus stores and in effect establishing n minimum market price at l-',j cents Copper Sliarea Advance Tie mm! .imcs composing the asso ciation wen thus relieved of tlie bur den of nirrjmg that stock und pcihnps the necessity of marketing it nt sac rificial li?uies The transaction wns re gard' d as highly satisfactory and cop per shares i.sponded with a moderate ndvnneo on Thursday A sjndiente of bankers L.. umit 51.", 000,000 Chicago nnd Northwestern Hallway llfteen-yenr 8'v per cont bonds, the offering being in.uli at fi'ii, nnd accrued interest, the same ttn s given to the Pennsylvania Itcilrnnd i' entl Negotiations for a Chilean hum of $J.".000,000 wire un dei stood to havi been completed, al though to announcement was forth Mimin' It was of wide interest that Mexico wns contemplating the funding of lis foreign indebtedness. Mr Spivir nnd Mr T.nmont have been m vitid by tho Obregnn Government to visit Mieo City in the interest of that prr ip t A dt i, non is wntiiig on our State Department's attitude. 'II sti'i 1 industry this week was confront' d with a new development in tin' i in. i nf pine. The Midvnlo Steel nnd Ordiiamv f orporntion on Mondav fi'i'itui J'i"i for plutes, shapes and hais nt which price those products would be sold at $2 to !S a ton below the Rcupdiilp ot the I'nlted States Steel Coipuinttoii, lis well as of the Indus trial Ibiard. This step elicited com ment fiom dudgo (laiv to the effect that niicp nits below cost of production I wo ii. not get a (ompnny anywhere nn'l tiut iirouauiy it vvomti noi imrucv a great deal of new hujliig slnco ton Minnrj have been holding nloof, not be eniso prbes vtcie high, but because of innditioiis in the world of buslnrss. Judge (;ni-j- made it known that the Steel Corporation had no immedute lotMitiuti of reducing either prices or wages. The movement will tend to cie. nte an open market in steel products, but n still lemnins to be seen how far u will ro in thawing out what has bten called the "frozen state of the trade " Soviet to Bury Kropotkln 6unday Loiiiloti, Feb. 12. Spiclnl prepara tions nre In ing mnde by tho Itiishwin Nov nt autlioilticH for the funeral rf the lufe Piine Kropotkin, who di'd ) miiiIv saj s u Most on dispatch 'I ho nitierni will o.cur tomorrow, and the body ot the iiilncc is being brought to Moscow by special train. No Markets Today Tiade on the various slock nnd commodity exchange throughout the countrj, ns well as business In the banks and trust companies, Is sus pended todav In celebration of Lin coln's Birthday, a legal liollda. I n DENY PLAN TO CUT ALL WAGES Executives Will Meet to Con sider Ways to Present Labor Mattors to Board CUYLER EXPLAINS STAND Chicago, Feb. 12. A general re duction in wage of railway employes is not being considered by the Associa tion of Jinilw'av. Executives, vvhlcli rep resents 00 per cent of tho trackago of the. country, according to n stntement issued last night bv Thomas PeWltt Cuvler, chairman of the association. Mr. CujIci'h statement came In re sponse to reports circulated in rnilroad nnd union circles thnt the meeting of railway executives, which he yesterdav called for rchrunrv 18, would discuss plans for a general wago reduction on nil ronds. Such a proposition never has come before the association or its labor committee, Mr. Cuvler said. The executives w 111 meet February 13 to discuss means of getting the question of n revision of wages of unskilled labor legallv before the hoard, which ruled tin rebrunrv 10 that it could not act on the road's plea for abrogation of tlie national agreement nnd for n vvnge scale revision tor unskilled labor which was nsked because of the financial condition of the ronds. Mutters of finance be longed before the Interstate Commerce Commission, the board buhl. New Y'oilt. Teb. 12. Unless present conditions nie remedied rnilronds of the eountiy will be forced iuto government ownership, so Ivy Lee, publicity nd viser to the I'ennsvlvnnin Railroad, do , Amcilrn. at the Hotel McAlplu. I Mr. l.ee snid the difference between rnilroad earnings nnd cost of operation wns so nairovv thnt indifference on the I part of operatives meant the difTcrcncp between success nnd failure for the ronds. The railroad mnnagcrs. Mr. I.c i said, do not yet sco a way out of their dilemma in this iepect. "The lailroads believe the present ficlght rates arc too high, higher than the traffic will bear," said Mr. l,ec. "To meet the requirements of the situa tion and to get money enough to operate the lines reductions must be made else where." MONEY-LENDING RATES , l'Hll AIir.l.FHIA Call. C per cent time, fi per cent; commercial paper. three to Bl montlm, 6 per cent. t.soie cuc'Atu uiu ineruiy iiurniruu quotations, as the legal rato of Interest In tho stato of Pennsylvania Is tired nt (Note Thcso are merely nomlnnl i b per cent, j'lus premium nnu cominis-1 son, time money for Iblrtv to ninety i dnj-s Is lonned at 8 to 8U per cent wiuie commercni paper, irom inree ti sl months, Is being offered nt 8 to S1. per cent.) London, Teb. 12 Bar silver Is quoted at 06 d per ounce Money, 6i pet cent I Iilscount rntes, sbort bills, Glx per cent, three-months bills, Ca if6 11-1G per cent i Fat. June IS, 1913. No aplatli or drip. piiiH tujuiiirtt ivnuuui mem. ahut-off mires nnter. Aik jour lor hm-IIl'a NiTan-necU fanrets. THOS. SAVILL'S SONS 1310 WAI.T.ACE STBEET vJS FIREPROOF WALL BOARD SHEETS OF ROCK TOR PERMANENCY USE METAL LATH FOR PLASTERING BASE PRESTEEL COAL DOORS Ann non. IlKKAKAIII.E 31" X36V PEARCE FIREPROOF CO. N E. Cor. Broad and Arch Sta. ri)l " tTIOVAT. lUilll sjfura ff Cost Accountants Are ninonfr the highest paid of professional men. Their work is. not only con structive it is vital to every great industry. Hero is a field of unmeas ured possibilities for men of Keen intelligence and fl:st iate ability. If yoy have those qualifi cations we can train you. I International Accountants Society, Inc. 1 509-511 Widener BIdg. I Phone: l.ocuit 34 10 MFKTIMK III'I'OIITI'NITIES If etnpb "1 '" tno ,,a time, atudy shorthand boolikeeplntf at nlirht Our couraia mv CTmpl'b te oface tralnliiar and oualiri "U for vwll-laylns poaltlon Cata log 1'IUI.A. njbHlNBSH COI.LKOn nnd Tollegn of tommeree 1017 Chealniit M. I'tilladnlntiln School of Muaic 531 Hnulh 11(1, st. T- I ll:.....!lt! '"', " '"' Ave. Temple Univerityjato iermonton Ar. All HrnnchM of Miialp. Ilmlnnrri. nnd ArU mceil I'lndla. fiitalo WIRELESS TELEGRAPHY itMiiuitri iNsTiri n: .pl . ! gain Arch at. 1 nrmbirji Iy anrl Ftenlnr. IQTnAYFR'S 'riia rl llili.lnr .School - 1 - i - ?, A I w Kjyyi F L.ff. i W '" I ft i :--;-2ii -?a I WH1S7 1 V ."" " -i ' '1 I 'li! '-L.il " ''l Ml ADVANCES IN GRAIN FAIL TO HELP 1ST Business Assumes Waiting Atti tude, Anticipating Further Prico Reduction Chicago, IVb. 1L-With 'improve ment In grnln prices of substantial pro portions thcie wns a somewhat more cheerful sentiment in the Wct, but this improvement in llie market for farm products hns not been reflected as ct in u much increased volume of pur chases. Mall order business, which is one of the fust industries tw feel the effects of greater agricultural pros perity, is still slow rnemplojmciit is still great In ..uinv Industries, and no perceptible improvement is noted In the steel nnd iron inihislrv. the general at titude being of n wnitlng sort, the Idea prevailing that further price reductions will bo made. The building operations are still restricted, notwithstanding the great need for housing nnd business ac commodations. Reports covering ictall operations in general merchandise show somewhat more optimistic developments, but ex cept where prices are nt reductions the buying Mill retlects the economical pur chasing. Wholesale drv goods business is con siderably les in volume than u cnr ago, but lu the1 jnrdage the quantity rhows mi ineieasc, indicating a healthy MINTI.nt ItnStlKTS it writ itv. v, .1 S)2 1 ATLANTIC CITY.N. J. I j AivAmfirican. Plaa Hotel i (of Disim(mwiiilteal05iiv6rt i riRDPROOI QARAOS. CAPACITY GOO. tVaA Cy ATLANTIC CITY.NJ, A( Tennessee Ave jusCotf the Boandv.'alk wjfh beach front service and appoint ments nt moderate ratio. EttropcanpIat:Rettaurant a (tachedundtrpersar.nl super vision of C.W. CARMANY ."e Car. nve . clnsn to Heuch & Btetl l'ler within 2 bloclcs of H l'ndlne Trot & Catho- i rhurehes. I.nment mudsrnto-rato lioute of brick, uppI A. nione coiiHtructlon Hot A. 'd runnlnc wntor In rooms, rrlv Inthe Vplircr heating satem tl f. tip iUl ep Ul vcekly. Amer. ilan. II fill & up ilulv I.uron. plan, booklet and nuto man on reimcM Tflul C. Ttoaf crane Owner . Jtur Let Ca Mnko Yon Feel nt Home In lb "tuy or iioniist ilrnltli" -r vysn-nM. .. ,T r- , . , , - Hfj XFf RyjOTaM I a. SJ 2. M-ilu IVLJS A Jiri .. Orenn End trelnln Atc. HfTiitor. I'rlvnlr llnlh. ote. Cannrily 309. All, jv tlnn. KltA C. Iin.l. l-Al'l. VI rorn. I'mw. GRAND ATLANTIC Vlrclnla iivp rnd beaib Hot and coir! run nil a wo'er Frivitc bths llntco J4 day un aperml weeitli Capseltv linn IIooklit o n i. fmnti:r iiAiior.i) i.amios THE IDEAL FAMILY HOTEL MICHIGAN Avr.NFABDEACH r.tRNCOT TOUO. PRQPPiCTQ BOTDrBWBSLL r i ii ' ti in I jiriliialk and e I r i inn in'meni llichcnt rtnnd. urj ii. n,. und sri . II mklet Hpelil inter t. i ir l ' r.ti I IIOrUVVm.1. I Ton roquois South Carol Int. Avenue, adjacent to beach. Cap HV.Hi fined mtronai?o niuslc.dkncimr. airiitiymtxlern. tabic HnJiiorvicocTcellent. urn-w aninrium. Jirok.t. ,. rraucklc. 5rafHai.hnsotta avenue nrnr l!fuh I A r. Mcri.i t.I.A" mawrnyrsnatB v (, nln e mid I. a ( ap ,1 ,ii l"r - L H u ii .i'e . Iivatt r . f I I I s II M i j (.1 I Amer III. .1 is? .' vl The Senator IrKlulu m .it ItiMnl walk 1 Irvurnof hiifiinl intntti lllrt lull v upfk-rntl nt th -lmrf, i iiialf u Hf ItI r it frinn Jii. in Mpu , int i!i iii. y I Ji 00 Urhffr r fratlnnt "HOTEL CONTINENTAL v n non Ah ii) a I s li lirnan n r t v ritnnr phone M. V nlelDir can. Mnlol Rnrnkl Kentucky Ave. Itefurn. ..Un.uuw,1:iir,(i (Rbte JJT 1() ard tip tvcklv rhnna 117 A. r MARION. KVK1.VV 0011. N Jjaurel-iii-thc Pines LAKEWOOD.N.J. Situated among the Pines and overlooking Lako tVirasaljo N.rr Polm Grill" 13-hol Golf Couna. UorMbaelcnidlnv, Moiorlnif Plcturtidui vValkr. Mmie. Ptirate Garaira. Maw E'ectro.hydrotherapy Bath i;iUa FKANK F. S II IIIIC. Manager Bronehpmeecf Gro A HUIIH A SONS M.mbera New lork Slock Excbunaa 5Srj.l3LJ3LSSl .ArUSWOOO,M,J "IN Till IIKMIT OK TIIK I'lNT-S" T.l.phon.. Lkmouil oOl, Neitly built anJ p to oil. In every leaped. All outld roorna. Hot and co.il running water, l'rl.at. hatha. Spucloui mm narlor. Clrlll mora Dare, hall, Itataa SAO 00 up werkly. SO 04 tnr ilallr leiirtli.r partlrnlara on appllcotl.a ,I KstiN si'uiNtm. N.C JAl Ksll.N M ICIMJH UOriU. laiM.un .Snrlimn, N C. Near rinchui - uini tainuu. Kulf cuura-a flev io now on tlolf. Motorlnit Hunting Quail. duiKB and nil I turkey A inodurn hnt.l In tin mid lie houtb Vti Iii "nritei. Man ii;emeni. Ill BJJurrnn H rnn.r leaain Rika Park. N Y 110CICV MOI NT1li. N. o RICKS HOTEL ROCKY MOUNT. N. C. "')faT lletnrcn .N 1, and Jack.onvlll. Th. LoKloal I'lac. h Break our Trl'" N.w Modern Throughout Accocn 300 Writ, for loformatlan T. I,. III.Mf, l'rop. bVVANNMI (i. Com utmfwtaA M beautiful Bavannah. Os trie parndt.e for golf.ri m torl.i. flahermen. hunt. mn aril tou-iaio l'lrpro, r lb ami will out hath. IL' 4. rtioma with lath, J-'.OO day up, (.rnrnc I, Allir.i. .VUuurrr "2. iiAvru.vt iit-.vtii. ifiyiJ " Daytona Beach Hotel Broad verandaa face the Ocean. Thorough!, modern Cul.lne uneieellcl llalni J3 su , H tfr "ii SmH' ii tlai , I I I IM 1 1 It ". I'l.KI INN. ( Icnrnnlrr, I lurlilu. Modirii In l lull n Ila bl.nr.', tloif it , Countrv r Iu'j ' n if j. hoatint, bathlnr flali uig. limtinj Quill r iiauii no on, Ueu.on . MoYcmber to Juui. Uatta upon unpllcatloa. 1 I2LT"1' "Bwr- or tiiimih iPiliiCESS I ttfab&teM rS:t W mm J, 11. I omul, Frraltlent . !'' I'Crv state of tiade. More luijcrs ire in the market than a enr ago. lurthcr reductions in wages aro re porltd In some quartets. On the whole the frcncrnl Industrial nctlv tv is Hot much changed from the previous week, judging from citricnt report. Monej conditions nre not much changed, al though a slight tendency towards lower ever, thero are other Indications that independent mills intend to cut prices to nn extent that will bring them business. Commercial and over the counter lortn tales at Chicago were quoted 7 per cent; commercial paper 7,i to 7n'i per cent; brokers' loans, 7 to 8 per cent. tntes has been noted in a lew eases. changes totaled ,s:oil nUT.HUi .. tn the steel trndn tin nntlOllllccmetlt I with SSllT.llllt.trill llit i.,.". "'""! I that the Htcel Corporation will not ie-I or n gain of .'l.ll VPr cent tj,'ar' ilticc prlceq nor cut wages has tended ranged fiom 0.4 per cent, in Han Tm to Iibvp n. Kteadvine Inl Hence. How- cIsco. to JII.II tier i-ent. In v.. ,,., rnd Reservo Bank3' Discount Rates nv- Tork 2 ; iui nn; id nis ;.p ,,. to Ortletftl redlroiint rules nt the t-lve IV.1 ',? ' im! n7,?,,J, V.,',2 "'ln 'J J eral Ilescrto bask, nro ns follows: . "'' ; '."': "J.', ' f, '"" lvn .,5 clfn. Uon.ls. Taper. Accent. I '.unI-0' 'i ,"; " !"S!0 '"" 5-I rhu,wrrhitt"::n )-i A Su I "ttji.un.ii i".iw io: $?:$ .' Atlanta i f'li 7 ' N.,i',,,'1' !. -32.-01 a.ai,oWi tl ,1 ChlenBo til 'l " !,, ft. louls fi'i " ""i Mlnnenpolls ... .-.'4 7' J Knnsns Clt...trt , ' 'jji DnlloR in "'a ' llj Hun Krnncli.ro, ,t0 S 0 ' 5'i per ceirt un rt"r secured b TiM uer i tent certificates nnd .. per cent on pnp'r , secured by 1" per cent and 3 per cont tor tlllentcB . , , . . tDlscount nvto eorreponds with Interest rnto iKirno bv certificates plsusfd o colini oral, with minimum ot B Pr cent In tho I cspo ot Atlnntn, Kanuss City nnd Dalius i nnd ZiVt wr cent In tho ens of clevclniM Illchmond, Chicago. San rntnclsco und , rhlladelrhls. STKAMMtll' VOTirK vojn NEW YORK HAMBURG CALLING AT Cherbourg and Southampton ORBITA . . . MAY 21st OROPESA . . JUNE 4th ORDUNA . . . JUNE 18th 1st, 2nd and 3rd class passengers THE ROYAL MAIL STEAM PACKET CO. 26 Broadway New York Or mny Sttamililp Tlcktt Agtnt LUCKENBACH UNES Philadelphia to Rotterdam Amsterdam SS SHORTSVILLE (U. S. S. Board) February 14 SS EASTERN SOLDIER (U. S. S. Board) February 28 Rotterdam Philadelphia SS WEST POOL (U. S. S. Board) February 21 SS SHORTSVILLE (U. S. S. Board) March 7 Philadelphia San Diego -Los Angeles San Francisco Portland Tacoma Seattle SS K. I. LUCKENBACH February 11 SS HATTIE LUCKENBACH February 21 San Francisco Los Angeles San Diego Philadelphia SS EDWARD LUCKENBACH February 21 S S WALTER A. LUCKENBACH February 23 LUCKENBACH STEAMSHIP COMPANY, INC. 328 Chestnut Street, PhiladelpnU LOMSAbO C340 1'am.inser und NORMAN MONARCH . . Phiia to Liverpool COLUMBIA New Yorli" Londonderry AQU1TAN1A New York" Cherbonrr and Soulbimpton Teb.26 Mr.22 Apr CALABRIA New YctU" Vijro. Gibraltar, Patrai, Dubrotnik, Fiume and Triejte Mar. 2 VERBANIA ....PbiladtlphU" London Mir. 5 ALGERIA . . ..NewYoik" Londonderry and Gltijow Mar. 5 Apr. G Mir 11 MASS1LIA Boitoo Liverpool Mir. 5 CARMANIA New York "Liverpool Mar. 8 Apr.lG M17 vtKtnilA . ...rhiltdelpuia" Liverpool Mar. 10 SAXONIA New York" Halifax, rirmoutb, Cberboarf and Ihmburj Mar. 10 Apr. 21 IMPERATOR ....New Yark" Cbetbourj and. Socliampton Mar. 12 Apr. 28 Job 3 VELLAVIA ....PhiUelpbia" London Mar. 1G CARONIA New York - Liverpool Mar.lG Apr.30 Jane 1 K. A. VICTORIA.New York" Liverpool Mar 22 Apr.23 Mir 21 PANNONIA New York" Vip, Patrai, Dubrovnik, Trieite and Fium Mir.23 ALBANIA '")..New York "London Mar. 24 May. 3 June 1 MAURETANIA New York" Oinbonrf and Southampton ..Apr. 7 May 12 Jom S I'a.krnzcr nmre. l3no VVulnnt Hlrret. Milln. IVrbrbt Office. Ilourse lllrl.. I'hU.. BMVMVHaMHMMVMMMMPMMaanHHM.HBMHmiMWMM CUMMINS LINEg U. S. Shipping Doard Steel Stuamcra Regular Freight Service PHILADELPHIA iU KUAlfcKDAiri & ANTWhllP SS"ARIZPA" Feb. 12 SS "LAKE HARMINIA" Feb. 25 PHILADELPHIA TO HAMBURG 8c BREMEN SS "NAAMHOK" Loadinc fur itpnce and rnlca anplv A. D. CUMMINS & CO., Inc. 139 South 4th St.. Phila., Pn. NAWSCO LINES nirert Hervtre Wlllioiit Trnna-ahlmncnl netween PHILADELPHIA nnd LOS ANGELES HARBOK. SAN FRANCISCO, SEATTLE, TACOMA, PORTLAND a. a. lala Marcli 5 S. S. West Islctn .March 21 H. S. Artigus April 5 IrtUlit rcicncd tUlly. i',r Hell Line NORTH ATLANTIC & 186 S. Fourth St.. Phila. Phone OIXIE STEAMSHIP LINES PHILADELPHIA, BRISTOL MANCHESTER, GLASGOW S. S. Monomac EXPECTED TO SAIL MIDDLE FFRRUARY siuiTivn I'ouui i:ti s HAUR1SS, MAG1LL & CO., Inc. B IJtfarelte llulldlnr, I'lillndelpbU Lombard f.;'."0 1 Jaln IB70 LOCAL CLEARINGS HIGHER puiiadelnhla n.. - T, .., ! M P""adeipiila Ono of Two Cities 1 Country to Show Increa.. I'lilladelphin wns one of two dilr.. t the entire countrj thin week thntslm.il an Increase in bank riparian ?' other city was l'lttshurgh, f' , ll" Aggrcgnto evehamrex of nit .i ' ;an' Ing houses In the fulled States, as enm piled by tin. Commercial and k nnJ? i Chronicle, were M.437.H18.1 Ml S ,$7.7r.J.47n,741 last week n i S? un 080.010 the eonespondlng wcVk ";t Comparisons follow : 1021 .rti to fa PaP"noxe8 ''JlO2' "d Mailing Tubei I EDWINXSCHOEHLECO 533 N. llth St. Philadelphia WTRAVISHII' NOTIfl-. ifi'ii .. r n -nsji furtf. " v R -VS.SP TO Europe Fortnightly by "O" Steamers Frrlclil bervUci Feb. 19 and Glaiitow Feb. 19 Mar.2C Apr.ZJ S. S. Leigh S. S. West Torus S. S. llrush ..April 20 . . . Ma ...May 20 9 utl, llrlivtry Central lurulluu WESTERN S. S. CO. Lombard 5791.2-3; Main .i:"-' AMERICA LINE New York to Rotterdam Via Plyrnoulh and Boulognc-sur-Mer New Anilerdats ..Feb. 19 Mir.Z6 Apr.30 Rotterdam Mar. I Apr. 9 M Ryndam Mar. 19 Apr.23 May Noordam Apr. 2 Mr 7 Jaat" Paiitnrtr OSce, 1531 Walnut SI, rKUi r?J P QiLAmn 6 6 ) V
Significant historical Pennsylvania newspapers