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Evening public ledger. (Philadelphia [Pa.]) 1914-1942, September 14, 1914, Image 14

Image and text provided by Penn State University Libraries; University Park, PA

Persistent link: http://chroniclingamerica.loc.gov/lccn/sn83045211/1914-09-14/ed-1/seq-14/

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EVENING LEDGER PHILADELPHIA, MONDAY, SEPTEMBER 14, 191.
. - j MILL RESUMES
EVEN W I Months' Partial Opera-
rUB - Plant Goes on Full Tlme
CTiO'Can., Sept. 14.-The Dominion
.tohnh'V:0rMlt 'Pnny ha resumed full work-
rhiiin s. ccJt
Ing time In lla ten mills. For clpht
months the "000 employes had been work
ins; on an average of TO per cent of lu.l
time.
It la announced In CIicro that the
Commonwealth-Edison Company has laid
off more than SOO employes In various departments.
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HARPER &. TURNER
INVESTMENT SECURITIES
1001-1012 STOCK EXCHANGE BUILDING
PHILADELPHIA
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FINANCIAL OUTLOOK
BRIGHTENS AS BOND
TRADING IS RESUMED
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Local Committee Begins
Sessions to Arrange Offi
cial Prices for First
Authorized Business Since
Exchange Closed.
Opportunities for
Business Gains
come to those who have cap
ital. Start an account in our
Savings Department
and be ready to take advan
tage of special offerings that
may come in the next few
years
3 per cent. Interest paid
Two weeks' notice to draw.
Corn Exchange
National Bank
Chestnut St. at Second
Philadelphia
With the Inauguration of trading today
in unlisted bonds, both here and In New
Ynik. there has come a clearing in the
financial tdcicg which, It Is generally ex
pected, will be reflected In a restoration
of nppn security markets. Under the di
rection of special committees, otriclal lists
of prlco wilt be established as the basis
for trading which, for the present at
least, will be confined to such business as
shall come direct to the bond houses,
without solicitation.
The committee representing Philadel
phia houses hnd Its Inaugural meeting at
noon in the office of E. V. Clark &
Co.. where It will sit each day here
after to act on such transactions as are
pioposed bj dealers, at prices to be fixed
1 the committee. The clnslnu HVnrea
as of July 2 the date upon which the
rftovk Exchanges fotmally closed their
ilnors, will he taken as .1 basis for all
' tinnnctlons nnd bids and offers for
' serin Mrs on this basis u IIP be received
, ii ml considered up until H o'clock dally.
excel t itaturdios. Krom this tabulation of
, prices the committees will cstnbllsh an
otllcl.il quotation list and subsequent deal
1 lugs will be put through In conformity
I with this list."
l'lie bond houses and the committee
hnc agreed that there shall be no prlce-
cutting of any kind, nor will any at
j tf ntlmi he glvrn to mere bond exchanges.
The Idea is to afford some relief to the
. m.nket In a legitimate way, and It Is
believed that under the lestrictlons to
i bo laid down by the committee a con
i slderable business will be done In htgh
1 grade securities.
Th Stock Exchange Committee con
1 tlnues Its dealings in listed stocks nnd
bonds, and has already approved the plan
for trailing In the unlisted securities.
1 With but ii branches of the Investment
bi.slne"-. working In complete harmony
there Is every indication for a healthy
rcumption of trading, which shall go a
long way toward Imparting tfj the mar
ket a conservative feeling of confidence.
Europe, of course, holds the key lo tho
entire situation. Progress of events
abroad governs conditions here. With the
reported successes of tho allies comes a
better sentiment, and the general opinion
seems to be that Improvement from this
time on Is likely to be quick nnd drastic.
There Is talk In New York today of re
opening the Cotton Exchange, and more
than one broker has ventured the pre
diction that by October 15 the exchanges
of the country will ngiiln bo In full swing.
This, of course, Is all a matter of guess
work. No one can foretell what Is llkefy
to happen, but Judging from recent oventa
In the financial field, Indications are not
lacking that the guess Is likely to be a
good one.
NATIONAL BANKS
INCREASE HOLDINGS
OF UTILITY ISSUES
INS URANCE NOTES
Country's Fire Losses Greatly Re
duced In August Mortality
Record Lowered.
Fire losses In the United States and
Canada showed a material falling oft In
August compared with the same month
a year ago. Flguros Just compiled give
tho August losses this year at Jll.76J.6oO,
as against J21.15O.70O for August, 1913. So
far fills year the losses total 1162,321,700.
compared with $160,087,250 for the same
period last .enr, and $163,750,3oO for the
first eight months of 1312.
Jesses each month this year, compared
with those of 1913, follow:
inn.
January $20,1113,2.10
February 22.oii.0OO
March 17,:.tt.ooo
Apr ib.iW.iwi
May 17.22.J.V
Government Figures Show
Growing Demand for This
Class of Investment Se
curities Three-cent Fare
Fight Still On.
IIBAT, K9TATE
OENEUAli
1
"!
IiRAti BSTATB
rjUNF.HAI,
tPje JWafotftone
1327 Spruce St.
June
July . ,
August
21.042.700
sn.nfio.POO
21.1SO.70O
lfH4.
?tM.ztri, nil
2t. 744.200
SS,ni2,T30
K.iOO.ROO
lft.NiT.80il
sn.ats.nro
17.Mn.fOH
17. 70S, (WO
I1IVII1RNI1S
E . (T.AU1C A i-o Uaker.
(Mice nf TIIK COLl'MIII'' It.Mr.WAY.
pom i:k & i.iiiiiT (.
Preferred Mock .Vriei A. Ill Idem No, 3.
I'o'umbu". Ohio. September in. 1014.
The lieur.! of Directors of The Columhu
Jlnlhva., Power .t Light Co. hn declared the
regular iuarterlv dividend ef One and ine
balf per cent. IM,i) upon th Preferred
stock Serlc. A of the Cnmpan. payable
October lt 11)11, to Mm kholders of record
tit the . 'ii "f Ituilne September l.tth, 1014.
Check i 1 be mailed.
r 'V HfrtlXIITO.V Secretary.
WM'AI, MKKTINOS
SF'TIIK H:t!N ROCK" II. A." I,. ASSN.
- The .'".th Annual Me'tlnc of tho rtock-boliler-
ujli i.e held 'Put'dii Kip.. ept. 1.1.
nt 8 oVIm k, it lns Anh t for the election
ef otn or? .mil Dlrerter and to receive the
annuo! rep. rt mv erles of etoi k will be
l"Ued Nn entiiiTue fee
.Ii 'HV A SNYDER. Secretary.
If Two New 0yiMms
;7 Bricrht Lights Ji!r4S0 Jfc -viv
U tor Philadelphia Wfe M$0& '-
vi. '.V'i 4?iii.'iaji--w .' - ; i.sr.w. '".'.
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Today two new productions
make their first public appear
ance to Fhiladelphians. Both
made by world-famous institu
tions, representing the highest
quality, at a popular price are
sure to render real economic
service to Philadelphia.
One of these new articles
A New
EVENING &&& LEDGER
for 1 Cent
Wc join with Philadelpliians
today in presenting our most sin
cere compliment to the Curtis
management v. itli our heartiest
wishes for the very early estab
lishment of the hvcninj; Ledc
as one of the world's leading
newspapers.
Like the owners of the Evening
Ledger, we also announce today a
new addition to our line
A Genuine Aeolian
Player-Piano
for $395
This instrument alsn is a new
product of a world-famous insti
tution the great Aeolian Com
pany, makers of the Pianola
Every resource at their com
mand, every inventor, every arti
san in their twelve great fac
tories, every commercial advan
tage of such a vast organization
was used to make tins new model
the world's greatest popular.
priced player-piano.
It is now for sale with several
other Aeolian models at
C. J. Heppe & Son
1117-1119 Chestnut St.
6th and Thompson Sta.
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Total S month" ... .J100.0S7.2N1 $102,323,700
T,lfe Insurance companies in the United
States made the lowest record In their
history last enr In the matter of mor
tality. The percentaBo to expected mor
tality was M.03 per cent., as compared
with an avernKO of 72 3S for the last dec
ade T.nst year 11 of the 70 companies
scheduled had a mortality below oO per
cent, of the expected, while IS were undet
CO per cent. The Industrial companies,
while naturally having higher mortality
than those wrltlnK ordinary business,
showed n ratio of actual to expected of
f6.ro. This Is an Increase from S5.BI In
1912. but compares with nn nverase of
P5.37 for the last decade.
John G. Simmons has been appointed
New York suburban general agent for the
Insurance Company of the State of Penn
sylvania. After October 1 the North and South
Carolina genernl agencies of the People's
National nnd I'nlted Firemen's fire In
surance companies of this city, now with
Harvov Uimbeth & Bro., at Charlotte.
N C.', will be discontinued, nnd the
agents will report direct to Philadelphia.
D. M .Murchlson. now with Harvey Lam
beth & T.ro.. will become State agent for
North and South Carolina, and Wnlton
Lambeth, now of the firm, will be special
agent In the same field.
MORE COTTON IN STOCK
Increased Amount Held In Ware
houses, Says Census Report.
WASHINGTON. Sept. 14. A report to
day issued by the Census Bureau shows
cotton, exclusive of llnters, consumed
during August, rS4,20T sunning bnles In
1314. compared with 432,350 bales In 1913:
held in manufacturing establishments on
August 31. 6T7.405 bales in 1914 nnd 717,701
in 1913: nnd in Independent warehouses,
.-.4S.557 bales in 19U and 407,902 In 1913.
Imports, 27,057 equivalent 500-pound bales
In 1911 i. -id 7755 in 1913; exports, including
llnters. 21,210 running bales In 1914 and
"57,172 In 1913. Cotton spindles active dur
ing August. 30,319,902 In 19H and 30,&n2,252
In 1913.
Llnters consumed during August. 24,61
bales In 1914 nnd 31.630 In 1913; held In
manufacturing establishments, 73,349 bales
In 1914 and 00,451 in 1913; and In Inde
pendent warehouses, 30,521 bnles in 1914
nnd 27,375 In 1913. Exported, SS5 bales In
1911.
WHEAT SHIPMENTS ABROAD
Shipments of wheat from this country
to Liverpool last week totaled S.253.000
hushels; corn, 35,000 bushels; oats. 3.122.
000 bushels. Canada contributed 2.fiS5,000
bushels of wheat and 2S6.000 bushels of
corn
ANNOUNCES OIL CUT
IXPEPUNDUNCE. Kan.. Sept. ll.-A
cut nf 10 cents a barrel to 6o cents in the
price of mldcontlnent crude oil has been
. . 1 n.nl.lA nil .....I tltc
announced uy
Company.
the Prairie Oil nnd Gas
RAILROAD EARNINGS
c.iand Trunk svstem. first week In Sep-trni'ij-'-.
total gross, SI, 000.113, decrease,
J11.1K. from .luly 1, gioss, k',M5,sT0; de
i leae. JiIJO.'Oj.
Chicago nnd Alton, InstvveeU In August.
rns. Slii7,i:ii: nrcreitsc, u,v.ii, mini juij
1, gross. (2,S9l.tin: ilecronfce, s:
NVw York. New Haven and
Julv- niierating revenue, $5,755,633; decrease,
Js'i0:. net Income. 357,ra2; Increase, W.
ol. Bin G.-.inde Southern, first week In Sep.
tfin!r, gross, $10,R: deneae
Julv 1. gross. $10J,3.0
Natlonnl banks of the country aro
among the most conservative purchasers
of securities. Their directors consider
wisely and welt before they Invest the
moneys Intrusted to fhem, and It Is ap
parent that nny security which they pur
chase must have behind It, to a marked
degree, the safety nnd conservatism
which characterize the conduct of tho
bnnks themselves.
It Is Interesting to note what tho na
tional hanks have been doing In tho last
few years along tho lino of public utility
investments. Figures complied by the
United Statev Comptroller of tho Cur
rency establish the fact that the onlv
securities In which these banks Increased
their holdings In tho InBt five years were
those of public service corporations.
Thcro was a consistent Increase each
year until 1013 tho last figures available
when the percentage reached 13.1 per
cent, rtnllroads aggregated S3.S per cent,
of the bank holdings In 1909; In 1912 they
had decreased to 30.4 per cent, and Inst
year they represented only 2S.3 per cent.
United Stntes bonds represented 17.2 per
cent, of the holdings In 1909, but by 1913
they hnd decreased to 15.2 per cent. State
nnd municipals decreased from 23.7 per
cent. In 1909 to 15.2 per cent. In 1913. These
figures represent percentages of the total
Investments.
Tho principal reason for the Increased
popularity of public utility securities Is
the fact that they comblno safety of
principal and Interest with attractive
yield. It co'ts more to live these days
than It did ten years ago. Tho conse
quence Is that the Investor, to meet the
additional drain on his Income, naturally
turns to Investments In securities which
yield the largest return and arc, at the
samo time, safe and conservative. Cap
ital flows into investment channels where
there Is the greatest return, founded, first
of all, on stability. High-grade public
utility bonds offer these Inducements In
a marked degree to prospective Investors.
The report of the Interborough Bnpld
Transit Company for the year ended
Juno W, 1914, makes a favorable show
ing. Passengers carried Increased 17,570,
155; gross earnings Increased $1,017,523.
Bath, N. Y.. wants to build a J50.000
municipal light plant. The plan Is being
opposed by the Bath Gas nnd Klectrlc
Company nnd tho Empire State Gas and
Electric Association.
City Solicitor of Toledo, O , has been
directed by the county to produce "con
crete objections" to the complnlnt of the
Toledo Railway and Light Company
against the enforcement of the three-cent
fare ordinance. The company says It
has lost an average of J1000 a day since
JIarch 2S, when the fare ordinance be
came eflcctlvc, through Its refusal to ac
cept three-cent fares on Its cars.
The Arkansas Light nnd Power Com
pany hns been incorporated at Little
Rock, Ark., with JC5O.O0O capital, to build
and operate power plants.
Commonwealth Power. Railway and
Light Company, one of the largest pub
lic utility holding companies In this coun
try, gained 6.3 per cent. In gross, 7,1 ner
cent, in net, nnd 7.3 per cent, in balance
In the 12-month period ended July 31 last.
Gross earnings of the company for July
Incri'iised 3.9 per cent., and net trained
9. pet cent. The company operates in
Michigan. Illinois, Indiana. Ohio and Wis
consin. E. V. Clark & Co., of this city,
ate associated In Its management.
: illfiliil I
1327 Spruce St.
Fireproof
Construction
i
Housekeeping
Apartments
All Outside
Rooms
Apply on Premises
or to
Apartment Bureau
13th
and Spruce
Streets
Lehigh Valley Railroad has petitlomd
the Public Service Commission of New
York for pel mission to discontinue pa-.-senei
service on Its branch line from
Geneva to Seneca Falls, through Water
loo. Attnrne.vs for the road declare that
uverage passenger receipts were onl 16.6
cents a dav. only one passenger being
can led. nnd that operations vveie nt n
net lois of ?I.9I dally. Hearing on the
case was adjourned until next Friday.
,3'H.
Hartford.
$12"-5; from
decrease. $15,0-J3.
GERMAN BANK STATEMENT
Tin Hank of Getmat.v todny Issued the
f.iilnwtnir statement, as of September 7.
Hnlllnn hank cei titicates and notes, d. - i
ciensed. J5.07S.O00; gold Increased $.'3,61!'.-
0W: loans Incieahed i.is.,.uuo; discounts
and Treasury certificates decreased $7,
29vm, commercial paper decreased SIU,-
C2l,fi., notes In circulation ilecreasen :'(,
W7.fM, deposits decreased $22,395,000.
AI'AHT.MKNTS
PETROLEUM
(III. CITY, Pa, PP. 12 frullt halmii-m
1 1 n.n. II.SM1 Hverane, M IJI. khlpincnu.
;,!4I a' erase, 07.427
Northeast Corner Broad and Spruce Streets, Philadelphia.
Fireproof Construction
Suites Facing Broad Street Southwestern Exposure
Permanent or Transient Terms
ftaii
Beautiful Roof Garden for Guests. Banquet Hall
and Parlors for Dinners, Receptions, Dances etc.
ARTHUR F. HEEB, Manager.
mmmffia&zmj&'t : : . .. .tuvo.
"K
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THE HAMILTON am?S
line unfurnished Hpartinent.
4Ui floor, west utile
II rooinn nmi bath
iiptlmi on rental of K.irnre.
Appls to Janitor.
M
IIKAI. USTATB
in: vi. ustati:
lilUISI.VNTOWN
onusiAvrowx
H-l--'--fl
PRICE TO SUIT EVERY PURSE
$2200, $2400, $2550, $2600, $2700, $3700, $6850
Surtlv one of these new homes Hill suit ou. All ell ixate. and all have excellent
trni.alt fervlce.
0.,nu nnd Cheltrn Aenurn, ?370O , n"..'' ,"'i","nch ,'ane
I.UU -J3 ft. 8 In. hy Ofl ft. 'J2IM) 1MOO ?.000
fp-ti Uie S mory. rooms. Latent Mculern tivo-Mory porch-front houneii, 0
,.mrr'mrn!,,J .R.l"aL .h.u.usr fS!'d"5r'i- I room, and hath, laundry In t,aement. Con-
par. nri. ii'ii'nHici ,,cn. . ..... w.. o-". i
VilB Mil ll-ll .'nril tllctn
, hanlnood floors.
it villi pay you to Inspect. Oermantovvn
anil WllloM r.rove cars over Chelten Cleii
siile rars .tlrret to houses ItOUfcltT
KILI-OffiH fiulMer.
venlent to trolles. Attractive proposition
for the homeseeker or Investor. Transfei
over rhelten avenue (Itoute 75). Oet oft
Church lane. hlovka east.
Hmlen llrlon- Upsnl St., SflS.10
' Three-stor stone seml-detachert ilnell
Inits. contalnlriR 11 rooms. Inclmllnit S
Laths Detached porches. Lots 3U feet
front. Iloi-nater heat, gas kitchen. Iiard-
tvooil floors, tile bath Excellent.
humple llouaeii Open
l.ruriT .V (IgonU V-., :.V0 lo 3171)0
Tak (iermantovvn. Wayne avenue or
Willow ilri.v. .nr transfer over t'helten
avenue or illeusMe car direct ; gel off
Ogontz avenue Modern two-story porch
front houses, hoi-water heat, gas ami el"c
trh ; hanluooil floors. Lota PtsR7. Terms
to sun These houses aie worthy nf the
consideration of Hie lmma seeker or Investor.
f H' In nrrmantimn, aalr or renl, wr have II Haled.
L
t ti niti rvil tl f7 0 ff tG"i Q .. tn .m A nonna
- J. tl. V,nALWHr. OC -J.t uuio vjciiiiauiuwH j-symuc
Mtrllllt IIOSHKI.I.
o. 233 (formerly SID North 3lh l.
ilAHAllK
N bulMIn 41112. S street fronti; suitable
service ilsfuri-iiein or parage.
lji a
RKI'IH iillOl'B
HI N. 15lh st I.'ixMi. with upper rooms
i .i". uuarr (Utn ami Jtace), S-atory tiuliaing.
Fi.ijons
i aise. wcll-IUhtt.l floors, with por and
I - stiarn Very low rent
."VI V nth l . upper iloois. 17x!iO.
ilS N. l"ih st . third floor 17x74.
FILM EXVIlAXCiKS
I Nine t. i.ornei-) rennlb modernized.
Uo v Ine it . 17x. to re4r street.
1100 Vlnij st . new building, IUisO.
I'KNTliAL STOUE
ti'.'S Walnjt. attractive front, large room.
riTOHES WITH UWKLLIN'JS
10 Race at., will Improve.
J." N. 1'lth t . SIS.
I'Jt'l Vlr- st . tl
J. Ith i . nevtlv renovatfil
u w. Thcavkou. w ltli atalile, bath, etc.
.'I i N. Utli suit tailor
;u7 N Mh, ault Icljers, etc.
SHALL riTOHES
-;i K 8th store. 18x2
111 S. 10th. well lighted; low riot
UN lMI'KOVRUENT I-EASH
22U N. 13th. lot 112 ft. to rear strut.
(F
C. W. Gabell, Jr.
514 Walnut Street
Real Estate
and Mortgages
" mmmr-.- Ljs
The Warwick
APARTMENT
HOUSE
IFIREPROOF)
190fi-8-10 Sansom Street
(Extending Back to Moravian
Street.)
HoiiiekcepinR Suites with all
modern conveniences for house
keeping, including abundant
supply i if hot water.
Apartments equipped with
gas .ind electric light (private
meters).
Excellent caterer in building.
Arrangements can be made
for care of apartments.
Meals served in dining room
or in apartments.
l-.lciator runs all night
Rentals, $500 to $800 per year.
TWO BIG BARGAINS
11000 nente-l at J '"!,' every con
venience. No. -8"- nd 2'JSI N lili st
Net raor llanip, N, 3SW N J0U s.t
0 rooms, ponh from, hot water beat
W. H. HOOD, 512 Norri- Street
Estates Managed.
Rents and Interest Collected.
Wills, Deeds, Mortgages, etc, Drawn.
iteside & McLanahan
Agents
15th and Pine Streets
Fire Insurance
Conveyancing.
Notary Public.
MORTGAGES A SPECIALTY
Samuel H. Chestnut
Bell Telephone, Spruce 5864
1510 Chestnut Street
2Jf
PTOX "' "if
33? JM. 1
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