Newspaper Page Text
BTEyittG BEnGBBPHlLAPELPHIA, TffTIBSJPAY, SEPTEMBER 17, 1914.
' I i i . - I, n i - -'L -...'.. .-,,;,, , i.i i J"
J .1 in i .. . T i , - - 1 i- ' " - '' ' " ' ... i .,.-, i '" ' "" '---' --
Brokers in Sydney, Australia,
Will Resume Next Mon
Resumption and New York
Awaits Its Decision.
Fint news since the beginning of the
Vurflpean war of a resumption of stock
i4lnt,.t any of the Impo.tant centres
' re the Exchanges were closed came
today iron. Sidney, Australia. It an
nounced that the Slock Exchange there
2,1 be official! opened next Monday.
Tht announcement naturally Increases
k feeling of commence eveiywnere r
Jint that tmrgs Hre on the mend and
that the financial world Is nearer a gon
ers! resumption of business today than
it an' "me since the end of July, when
,i Exchanges closed
in London today foreign Exchange
Mnkors met for their first session since
the war began While there was no
huslres of an material Importance
transacted, the session Indicated that
' ... .m u iiplne nlven the Government
in it! efforts 10 expedite fotclgn exchange.
Another favoiable sign Is the, announce
ment of repeated conferences being held
tithe Metropolis between representatives
of the Government banks and the London
Stock Exchange Committee, concerning
lhe reopening 01 inc eauhbuhb.
i,Vu- York will take no nctlon on the
reopening proposition until after London
fcas taken the Initiative, and Philadel
phia will, of course, do nothing alornc
this line until niter e lorn naa om-
, Washington nroKcrs see sucn a gen
ual Improvement In the situation that
they hae alieady had several meetings
10 discuss the advisability of reopening
It was finally decided, however, to take
ic action until the Xew York situation
las been cleared
Brokers In New York say It Is ex
bemcly probable that the reopening.
tnen It comes, vmm entirely comouna
il', prophets More than likely the ob-
itacles which are In the way of a re
ramptlon of buslneis will appear as for
midable as eer until the efforts being
aade to overcome them shall have been
laccessful, and the rolling awny of the
ttauds will be brought about almost as
inddenlv and Unexpectedly as they arose.
NEW YORK LOAN OFFERING
Publk offering una made today of the
tew liwooun) e per ctnt. note loan
negotiated lat week Just how much of
It will be alloted to Individual Investors,
Is not known, olnce there Is no Indication
of the amount taken b the syndicate of
117 cw 5orK banlts and trust companies.
The bonds and note arc being offered at
par and accrued Interest. They bear Inter-
tst at 6 pet cent, a year, pavnble March
and bptmher and are Issued In coupon
nd registered forms In denominations of
COO, HMO JVMO and 110 (W The will ma
are is follows J37.0n0,0flO 6 per cent cor-
jorate stock notes due September 1, 1915,
H00OOQO 6 per cent ieenue bonds duo
September 1 1116, f 25,(100,000 6 per cent,
levenue bonds due September 1, 191".
When the last payment was made yes
terday afternoon by New York financial
Institutions, the figures showed that about
K.C00O00 had been paid bv the bapks and
trust companies In sterling exchange and
W50,OM in gold
Some Inquiries were received herp today
by Investment bankers, from Investors
inxlous tp take part of the note and bond
Offering It Is not likely, however, that
there will be mush cf ti nffnrtnn- ab
sorbed! in this section. The notes and
bonds, Exempt from taxation In New
York are subject to the four mills tax
In Pennsylvania, In the case of Indl- ,
Tldual Investors Thin hrlnirn tho itri
Jon to about 5 8 per cent. The offerings September
re, nowever. exemnt from Fv!rr.i in. '""""r
tome tax It has been years slncp such
t h ?h ?rart nhllrrqtlnn Kn1..1 l ,u.
credit of New York cltv, was offered on
wch an attractive basis, and one of the
wmi reasons why investors here may
sot get into the market as extenslveh
u they would like. Is that distribution
Wll probablj begin In New York, w here
""a. it is understood, there has been
BONDS IN GOOD DEMAND '
Locally there rnnllnimv a fr.1,.1,. An
dlng In stocks, although within the ,
"t few days a falling off In transactions
os been noted Demand for high-grade
Miids continues active under the circum
stances One large house here sold $17,- '
w north of public utility securities th's I
itemoon. nil nf T, v.iu ..-. .., i
njestment In a single Issue-a gas prop- I
tlon In W'e Virginia It put through ,
bw saies or another utllltv sectrr- I
v, Coverinc nnMifl ........ i ., i
the Middle West
W.M "M, Ul"' aft"nonn of one loenl
Mestor in l nited States Steel who sold
WMO worth or these securities on a basis ,
,,. va,'harr Wlh the proceeds nf the
&v. t rUfhi lUf,Et"ffB and within two
:t.,i- ?,nanefl un a ru"of1t approM- '
iHitlng Jinw Shutting off nf iin,i. i
lr?rt"tUf rtl"' l0 the wnr- naa influ-
i,rrt,, : "" "r mem wnicn can
lordly be met
tort.!. . flirk aI''s '" th l0(,al market
W Etoragc n,ttery at 434, Tonopah Rel
bom .Si, ex dividend Securities offered
DIVIDEND IS DEFERRED
ON HARVESTER COMMON
Company Assigns Bad Business, Due
to War, as Cause. '
After tha meeting of dliectors of the
international Harvester Company In New
lork today, al which It was decided to
vena me fuviuena on the common stock,
due at this time, the following announce
ment was made by Cyrus tt. McCormlck,
"As a result of the European war, the
business of this corporation In the com
i,lns cou"'r!efl J almost at a stand
still. Thus far no report of any damage
to the plant or properties has been re
ceived. From recent advices we believe
the corporation's losses In the countries
at wnr will be less than we at first
feared, but the situation In Europe makes
It practically Impossible to collect, at the
present time, a largo portion of tho
Moneys duo us there.
"The volume of business secuted to
date would, tinder normal conditions, pro
vide profits In excess of all the usual
dividend requirements for tho year, but
In view of the existing European condi
tions, the directors feel It would be tin-
wlso now to declnie a dividend on the
common stock nf ' - ni-qtion "
MILLIONS SPENT BY '
READING TO REMOVE
ferred dhldenda. compared with 1T.ST Percent.
on ft net corporate Income In 1011 of tffi,np(t,H7t
for three companies alter deducting preferrl
IinAWNO RAILWAY COMPANY.
, 1 tnn-1 ini2i3
neceipia ,.. ....., ,.4i.i:
FINANCIALAND COMMERCIAL SITUATION AT HOME AND ABROAD-MARKET REPORTS
NEWS COMES TODAY
OF THE FIRST STOCK
U. S. Court Ruling Declar
ing It Confiscatory Ends
One of Most Remarkable
Traction Fights Country
GRAIN PRICES UNDER
' AS MARKET OPENS
Traders Play for Reaction,
Believing Upturn Was Too
Sharp European Soil in
Shape for Planting.
CHICAGO, Sept. 17,-On tho theory that
yesterday's upturn In wheal was too
sharp, traders played for a reaction to
day and themarket started one-tuarter
lower at l.lt'4 for December and 1.19 to
1.18'i for May. There was rather free
selling by l brokers. The commission
call at the recession wnsWalr.
The receipts of wheal' 'at Minneapolis
and Duluth todny were'l.BSS cars, against
930 cars a year ago, al Winnipeg" 126'J
cars against l,04'l cars: at Chicago 3H
CHis against cars. It Is estimated that
the una of winter wheat In the surplus
States will exceed that of llyst year by
ten per cent.
Trade In corn was light. December
opened oft lHc , at 72'ic, to afcc, and
May unchanged at 75'sc. to 74'4c. There
was some realblng. The country Is not
selling. The "price current" hns received
reports indicating a total coin crop for
the I'nlted States this year of approxi
mately 2,600.000,000 bushels, against 2,
59S.000 000 bushels forecast In the Sep
tember report of the Government. The
receipts of corn here today were TOO cais.
Tnces in Argentina were firmer. It :s
expected that surplus of that country
will be disposed of qulcklv.
Oats was easier on realizing. The de
mand was not so urgent Most of the
bulls are wnltlng a further reaction be
fore increasing their lines. There nere
no sales by the country to arrive. Ex
port business recently has been heavy.
The demand has come chiefly from the
continent, as the British markets ap
parently are well supplied for the pres
ent. The receipts of oats here today were
CHICAGO GRAIN PRICES
Quotations for Cerenls and Provisions
rHIC'AOO, Sept. 17 -The quotations for
Krain an1 provisions were
Leading futures rnnsifi as follows
, liem wprn, men in I lnP cioie
1.07'j i osvj l nr t 071, 't i
l.im i n't i ii 1 in in i.
Mas .. 1 in 1 II 1 IB ! li.i, LIS",
. urn high delivery!
September October .
.10 17 1
After n strenuous fight which lasted
many months and which was watched
with unusual Interest In atl parts of the
country, the three-cent faro controversy
in Toledo, Ohio, has at last been settled.
Judge Kllllts, In the United States Dis
trict Court of that city, has decided that
the city oidlnancn enforcing this rate Is
confiscatory and ho hns oidered a return
to the old rntes, tho cents for each pas
senger except during the morning and
evening lusli hours, when the rate shall
remain at three cents
Decision in the case was a victory for
public utility Interests While the fight
was on between the Toledo Hallway &
lMght Company and the city authorities,
theio developed n situation In Toledo
which has never had a parallel In this
country. The company, after Match 17,
when the ordinance became effective,
declined to accept the three cents offered
by passengers who boaidcd Its cars, and
those who did not produce the live cents
which tne company declared to bo Its
regular rate, were permitted to ride free.
Theie nnt no, acceptance of three cents
for o ride except during the rush hours.
For five months the company operated
Its cars Under this regulation and Its
ofTlcerB figured that the losses Incident to
this arrangement averaged $1,000 a day.
Vet they would not retire from their
original position In the matter and they
determined to fight It out to the end.
They declared the principal of the lower
fare scheme to be all wiong and on tho
gtound that the securities of the company
were being seriously Impnlred by the low
rates, they fought every move for en
forcement of the oidlnancc.
Early in the fight Henry L-. Doherty,
head of the company, offered to permit
the city authorities to take over the car
system and operate it for a year to prove
that the low rates of fare were unprofit
able. The city declined the offer, but It
submitted to the voters a proposition to
have the municipality buy the property
and operate It under a municipal owner
ship scheme. The oters, at a special
e'ectlon, agreed to tnls plan but there
i as no provision for the creation of a
bond Issue with which to purchase the
Judge Kllllts laid upory the city authori
ties the burden of proof to show that the
company's revenue, under the three-cent
fare ordinance, would pay Its operating
expenses and leave a surplus of from
f300,000 to $400,000 a year. Such proof was
not produced. In his opinion.
Judge Kllllts said that the city should
have had, when It passed the thrce-cetit
fare ordinance, knowledge that Its tormt
were reasonable. Neither the city nor a
court has the right, he said, to fix an
arbitrary rate of fare without the knowl
edge that such rate will pay operating
expenses and loaie a reasonable return i
$47,121,170 $50,552.7. t
Ninth Street Elevations Com
pleted Holding Company
Surplus Equals 12.17 Per
' Cent on Its $70,000,000
The Philadelphia and neadlng Hallway
Company spent $350,071 for the elimination
of grade crossings In the fiscal year
which ended June 30, according to the
annual report of the company, just Is
sued, covering operations for the year. A
total of $131,516 was expended on account
of additional main tracks. The sum spent
foi grade crossing elimination was almost
wholly In tho elevation of the tracks In
Ninth street and ' on the Richmond
up to June 30, the company had spent
$5,462,608 on account of the Ninth street
elevation and $1,461,445 on account of
similar construction on the Richmond
Branch. These sums are exclusive of
what was spent by the cltv under the
agreement for the abolition of grade
crossings. The elevation of the Ninth
street trucks Is virtually completed. The
total amount spent by the company In
the year for additions and betterments
to the property was $2,024,783, a decrense
from the previous fiscal year of $366,779
This year separate reports are Issued
by the three Heading compahles, the
Heading Company, the Philadelphia and
Heading Hnllway Company and the Phil
adelphia and Heading Coal and Iron
Company. Income account of the Read
ing Company shows a surplus for the
year of $ll,32.,,062, Including the amount
received by the company In the distribu
tion of the nssets of the Temple Iron
Compani, under a decree of dissolution
by the United States District Court. This
surplus compared with a surplus of the
previous year of $10,633,010, and Is equal
to 12.17 per cent, earned on $70,000,000 com
mon stock after the dividends for the first
nnd second preferred stocks have been
deducted. Last year 17.57 per cent was
etrned on a net corporate Income of $15,
O01.874 for the thiee companies
The annual report of the Philadelphia
nnd Reading Coal and Iron Company for
the fiscal year ending June 30, 1914, hows
gross receipts of $32,703,082. compared with
$40,983,061 in the previous year. Net oper
a'ing profit was $818,367, compared with
$3,786 918 In 1913 There was a balance of
$715,?30 after the pavment of fixed charges
compircd with M. lit 592 In 1911 The heavy
decrease In earnings was due principally
to the falling off In the sales of anthra
cite. The following tables show Income ac
counts of the Reading Company, the
holding corporation and the Reading Rail,
way Companv for 1913-14 and 1912-11-nKADINO
Net Income from rail
side operations net
Net Income from ell
operations . .
Taxes . ...
Operating Income .
Other Income ... .
firopn corporate incorriV
Deductions from Income
20 01 Mill
I 207 VK1
n .ni kpT
20 420 Mil
7.420 021 12(rtKI1'i
Additions and betterments 2 024, 7S.1 g.Til B02
Net corporate Income "il.40l R19 $0,iri9,C07
BKAIIOAHt) Alii LINK.
First week Bept 1407 oso
From July I.. . . .1 s'm.701
HCFFALCI, nOTIIKITBll AND
Pfcond k Fept. . $2j1l
From July 1 ... 2 4 til I III
$17 HI 4
pi n s
Interest, taxes, etc
SI 1017 121
$1 1 ) ?t
WILMINGTON BOND ISSUE
IS ENTIRELY TAKEN UP
Sale of 950,000 Worth of Securities
Beflects Better Feeling.
In contrast to the demoralizing condi
tions which have existed for the last
month In the municipal bqnd mnrkets of
the country, It wnn announced this nfter
noon that the entire Issue of $50,000 worth
of 4 per cent bonds Issued bv the mu
nicipality of Wilmington, Del , had been
entlrclv subscribed When this Rime loan
was offered to public subscription last
Thursday there were no bids received.
The bonds wore sold over the counter nt
par and were taken largely by Wilming
Hrokers aro awaiting with Interest Hip
opening of bids September 24 for $77,20?
20-payment special street improvement
bonds of the city of Minneapolis
on the Investment. By this, he said, h'.' ! Surplus for ve-ir
had no reference to bonds. I Eiu1 to 12 1. per
Ml.122.002 $10,0.11 o-irj
cent after deluding pre-
Tito passenger traffic of the Interboro
Rapid Transit Company, of New York, in
the siibwny during the year ending June
?o amounted to 3)0,413,103, an Increase of
12,911,593, according to figures compiled by
the New York Publlr Service Commission,
as Indicated by the number of tickets
Thp banks lost to tho Subtreasury Yes
terday $950,000; since Friday $2,649,000.
A cable received In New York from
London says that 2,000.000 of French
treasury notes have been placed there.
The result of yesterday's billot by the
New York Cotton Exchange Conference
wns as follows4 McFndden and Company,
100 bales, A. Nordrn and Company, 100
bales and Weld and Company 100 bales,
all sold at 9.90 cents.
The minimum tate of discount of the
Bank of Kngland remained nt 5 per cent,
The annual meeting of the stockholders
of the Northern Pacific Railroad will be
held In New York on October 15
Paul Sheldon, of Sheldon. Morgan & Co.,
42 Uroadwpy. has been elected a memoer
of the Chicago Board of Trade.
Some minor claims were considered at
a meeting todav of the creditor of Wil
liam L Rear & Co , bankrupts, in the
ofllee of David W Amram, referee The
meeting was adjourned until October 1
GRAIN AND FLOUR
tllll'AT.- Receipts, 13,r,37 bunhels; out
side advlcfa lower, but this market was nom
llially unchanged, with little trading
Cut lots, In export elevator No 2 red. spot
and Keptemtor $1 07fJ1.12 No 2 rel 'ern,
11.110110 No. 1 Northern Imlulh. $1 2-W
1 21 ,
roil V. Receipts, 701.1 bushels. , Trade
rpilet with no Important change In prices nr
lots for local trsrte, as to locationNo 2 vel
Io 87flS7'4e . stiamer yellow SHH.tfrKiC
OATS. Itecelpts. 4B.118 bushels. .Prices
sieidll), liclrl, hut demand onlv moderate No.
2 wblle ,V Via Mr standard white. MflM'ic .
Nit 1 white. .-,2i4BVlc
. I'J.Ot'lt.- fterelpts. 1701 barrels. 07.020
bhrrels In sacks Mill limits steadily held, but
trade iiulet. Winter clenr H Mfi. do ,
straight $.195 2.1. do., patent, , lO-fin. Knn
sas, straight. Jtlle sacks, $1 tOflfi.2"!. do . .pat
ent. Jute sacks, $.', lor, TO, spring, first clear,
t'rrj', do., straight, $1 2!V3n M. do. patent,
f'.fWJfl, favorite brands. $02V30 7rl city
mills choice nnd fanci patent $0 2100 ,B, do .
regular grades- Winter cleor, W 7V3B. do,
straight $VarflO do. patent I Mlflii
MR ri.OIIlt. In light request, but steady
Bt$VffSM) per bbl , in wood
Little trading and the market without Im
portant change .
City bfcf In sets smoked and air-dried .119
32c : Western beef In sets smoked, .ll )2c ,
city beef knuckles and tenders smoked and
alr-drled .1217.11, . Unslern beef, knuckles and
tenders, smoked .12?n4c, beef hamsi $40B,4i
Ham". i I'. cured, loose 1 n'413 Ift'Jc . do
skinned loose IBHWlOc, do, smoked, ISifl
19c. other hams smoked, city cured, as to
brand nnd cured IRiaiPc , do , boiled, bone
lens 2S(3'2nc , picnic shoulders, (4. P. cured,
loose. I2ialziic. do. smoked. M314We.
bellies In pickle occordlng to average, loose
tfliaiRr , breakfast bacon as to brand and
average city cured, 22"324e breakfast
baron Western cured 22fff24e , lard, Western
refined, tierces, 11 infill c , do do, do
tubs. 11 Via 11 lie , lard pure city, kettle
rendered, In tierces. 11,8I2c, lard, pure
city, kettle rendered In tubs, ll4212c
rteflned msrlcet Arm. hut olllet
Standard granulated. 7 30rd)7 .Ific ,
?rnnulated 7 '2:&" BOc , powdered,
.005 j confectioners' A. i.lfiii?7.40c.
grades, 0 4 1 a , .irc.
IIUTTEIl.- Trade quiet, but offerings only
moderate nnd mnrket steady Western, fresh,
solid-racked creamery fancy specials, .lie.,
exceptional lots higher, extra, 12f?12Hc , ex
tra firsts. .11c . firsts 2fltW.i0V. . secondr.
27ti,i?28'4c . ladle packed 21a2.1c, as to qual
ity nearby prints, fancy 1"c . do , averago
extra, VltM4c.. do., firsts, 10.12c , do, ec
onds. 27?i2tic. Special fancy brands of prints
Jobbing at 10341c
EGGS Demand good and market Prm
under small supplies In free cases nearby
extras. 31c. per do . nearby firsts. $? 40 per
standard case, nearby current receipts. 7 SOfp
7 SO per rtandard case, Western extra fir't".
fS 40 per case do firsts $7 SW7.SO per case
do , seconds, $0 OOilO.OO per case. Candled and
recrated fresh eggs nere Jobbed out nt lift
37t per m , as to quality
CIIEKSE Trade better and prices rirm.
New York full-cream, choice, 1Rt,B10V4c . do ,
do., fair to good, lBVi'SlOc, do, part skims,
LIVE Trade fair and the market firm
Fowls. 1731SC, old roosters 11B12C , spring
chickens, fine, large. 17(fflfc . do medium
sizes lBftlfic . ducks, old. 115?14e do pring
Mflnc . guineas, per pair, young weighing
2 lbs. and over aplecr 80c do . weighing 1 lb
apiece 50c: do old BOc. pigeons, VVifW
lbs apiece fiOtt7rc
nrtESSEIJ POULTRY. Demand fair and
mnrket Arm with supplies of choice stock well
under control , .
FTeuh-kllled fowls per Ih , selected heavy,
21 Uc. fano, weighing tWS" lbs apiece,
20$e weighing 4 lbs apiece .'Oc weighing
ai4 lbs apiece 17fflKc weighing 1 lbs and
under apl, e, 10c. old roosters dry-picked
114c. , broiling chickens nearbv, weighing II3
32 lbs apiece. inflWc broiling chickens,
nearby fair to good IBfrlRc , hlckens, West
ern. UM lb apiece 10c . do , do 2i-ifn lbs
apiece "lflft17e broiling chl-kens Western 14
W2 lh. nnlece 17ff1c. broiling chickens
Western fair to good I'ltflfic squabs per
dozen white weighing 111J12 lbs per dozen.
S4 111TI r'0 white weighing IVOTO lbs per
doren TT1 71 white, weighing R lbs per
A t 9Vf?'Kn rlo welihlnr 7 lbs per
I dozen Jl 7112. do weighing fWflVi lbs per
t HIH1 mlW - '.fW lfs? !-'
$2 BOBBi medium. $1 BO?2 10s apples. Delaware,
per hamper, .TOBOOc.! lemons, per box, flail
pineapples, per crate, Porto Rico. $1 2131 21;
florlda, 1-B2 BO, cranberries. Caps cod, Early
rtlack per bbl., $4.B0.1i cranberries, Caps Cod
Farly Illack, per rrale, $1,7.V32, cranberries
Jersey, per rrale, dark. $1 f.12 21, light. IV
1,21 huckleberries per nt 4ilSc neathes,
Virginia per 20-1b, basket. 2.V3BOC, do. do,
per crate. 75c 1 PO do Delaware and Mary
land, jier basket, 2.Vi?7.V . do, do per crate,
7Bc tg 21. peaches. Pennsylvania, per basket,
large white nr vellow UOSSoe medium I1W
BOc. peac-hes. Jersey, white per S-basket, 40e,
iflJI do do velionr, per 4-baaket, 40rfl
pears, nearby per bbl. Harllett. No. 1 IV30.
do, No 2 $i 7Br1.21 Clapp's Favorite No 1,
$1 taSM do No 2 $2 711H 21 pears New
York Rechel, ter bbl . JlfM. other varieties,
2ff?.l: grapes, (Southern Delawares per carrier,
0f?7Oc grapes Concord rer crate 4Oa0c !
plums per S-lh basket. 20W2V cantaloupes,
Colorado per rrale $1W1 21 do do. flats,
40'57O5c watermelons Jersey per 100, $1318
P 40 T'l IB
1000 till 00
It en? v T ak"'1 W(re I-hlsh Valley
&. 7, tnion Traction. 40; I' S Steel.
Phla EleM,? , K'trle 6a. 101. Phlladel-
i of u V"- 0itj- of Philadelphia
'nersi IT1 "" nt m- "nt Heading
r mortgage 4s at 9214
W?wl!ri.",r""tW the Phlladel.
Nkiti in ,r..?."J"L ". ,he moment
.ond V..!5.r''.?.n. some, Pn whereby the
'mrnln- .. m SIart sa'pmen at work
.u..7.1"n UP mre cash tcudm Th
"M agreed86 .OVer thruchly. an(,
tomoBrrohth,at no,her s""n be
hill !,.?!? Marrnny definite action
chm, win o. ' f hllltles aro that the
'Wetion" orked out uniler wtain
COMMON DIVIDEND PASSED
Centril Coal ad Coke Directors Will
Consenrs, Tl,! -r.,
Dj... : finances,
ftCiiw,.!.(,,irt?1 Coal an" Coke
',1,:k t this tL? .u ue on ,he common
Mtnd or !, The reffu,ar auarterly
"Wk .. dh,P" C6nt n the preferred
Houghton County Electrlo Light Company,
regular semi-annual 71 cents on preferred and
Il2'-j cents on common both pajahlo Noem
ber 2 to stock of record October 1.1.
Electric Storage flattery Companv regular
nimrjerlv 1 per cent, on common and prefer
red. pas able October 1 to stock of record
American Gas and Electric Conipanj. regu
lar quarterly 2 per cent on common and l'4
per tent, on preferred The common Is pav
ahle. October I to siock of record September
21. and the preferred is payable November 2
to stock of record October 21.
Im Hose Consolidated Mines Company, reg.
ular quarterly 2H per cent , payable October
20 to stock of record Sepiember GO,
Kolb Ilakery Company, regular quarterly 11!
per cent on preferred stock payable October
Procter & Gamble Compans. regular quar-tt-rly
2 per cent on preferre 1 stock, pajablo
October 15 to stock of record September 20
' la It possible that the city Intends to
occupy the position of dog In tire manger
forever"" said Judge Kllllts "If the
ordinance Is unreasonable the company
cannot be held to Its terms by the mere
fact th-it It continues to operate. We
must have transportation. Then for the
city to sHy that If the company continues
to furnish that transportation it accepts
terms which may be unreasonable Is un
conscionable." The Huntingdon Development and Gas
Company, managed by R W. Clark
Co , of this city. Increased Its output of
gas from 85,000,000 cubic feet in July to
140,000.000 cubic feet In August. The com
pany has valuable concessions In West
Virginia and Its securities have recently
leen in active demand.
Stock of the Capital Traction Company.
Washington, D. C, has gone to a 5 per
cent basis. It has been on a 6 per cent
basis for several years. The cut In the
dividend rat was authorized at the meet
ing of the board of directors and Is to
take effect with the quarterly dividend
payment duo October 1. It is due to de
creases In earnings.
M 27iT1 V)
Apples arriving quits freelv but choice stock
in faf renneict nnd steady. Other fruits showed
little change Apples p'r bbl fancy varieties.
IJntatocsi steady with demand absorbing 'hs
moderate offerings Other vegetables In fair
request and stendv White potatoes per bush ,
Penna choice 71f?7'ir do fair to good. 01
flWr , white potatoes, lersev per basket 4fl
4Bc sweet potatoes Eastern Phore, per
bbl Vo. 1 $17BH2 11 No 2 71c 1 sweet
potatoes N C , per bbl No 1 Jt 75f?2 No
2 71c 3l sweets lersev per bbl No 1,
BOH2 7.1 No 2 $1 Wr( 71 sweets Jersey,
per basket, BOHOOr onion U estern nd
Connecticut Vallev hol-e, per 100-lh bi.
$1 21, onions medium pr inn lb hag $1
cabb-vge domestic per ton 112314 eelerv,
N Y per bunch 12fl30" mushooms psr
l-lb basket BOc $1 no
CHICAOO Pept 17 -HOO"? rtecelpts, J4,
ooo market lrwriBc higher mixo nl
butchers. $HMM!IM good heavv fit nQI 41;
rough heavy $s 21WR U0 light S fta: 11
pigs $ 110 71 bulk. $ '.','30 23 CATTLE
hccelptu 3VH1, markets steady beeves SI 40
11, cows and heifers HQO ,B stoker mi
fenders, lit 4rfr 2.1 Texina $7 BOiW J.
calves $P 10312 no HHEEP rtecelpts IB nii
markets stoadv native and Western $.1,219
0 23, lambs, $0 IBO
NEW YORK BUTTER AND EGGS
NEW YortK Sept 17 -Butter Ilecelp.
n21 packages extras. 32171214c . firsts 20-4'
3IHr Flggs Itecelpts today 1P.W11 ras!
fresh gathered, extra 2"!'&llc extra flreCI,
27tf2Sc , refrigerator firsts to fancv 2432.1c.
Dank clearing today compare
spending day last two years
Phlla 2.1 nn 75P $27 211 BIS
llo.ton .20.715 217 22 1B1 232
New Tork 1R.102R027 110.7017.14
St Lul 11 33R 70 II M4 BOO
Chicago 46 at 230. M 141 732
337. 4 R7 071
12 104 ".7
54 ft.14 741
t the close of business,
September 12th, 1914.
Loans, Discounts and
Investments $3,318,908 15
Due from Banks 220,376 71
Exchanges for Clearing
Clearing House Loan
Cash and Reserve 1,010.903 81
Capital . - $300,000 00
Surplus & Net Profits... 606,191 fS5
Circulation .. 195,30000
Deposits ...( 3,807,04682
EDWARD M. MALPASS,
PORT OF PHILADELPHIA
Sun nnd -Tides
.1 12 a m.lSun sets ...
High water. .11 10 a m IHIgh water.
.14 a m.lbow water .
S 28 a m High water
2 12 a m.llxiw water
.1 51 a.m.lHIgb water .
NEW YORK CITY 6 REVENUE BONDS AND
CORPORATE STOCK NOTES
6 OSp m.
0 45 pm
S 57 p m.
3 OJ pm
8 12 p m.
Low water.. 11 lla.m.lLow nater
hchrs, llumarock, Emma S Lord and Chllde
Harold, Nova Rcotla laths.
Maturing as follows:
$57,000,000 6 Corporate Stock Notes due September 1, 1915
$18,000,000 6 Revenue Bonds due September 1, 1916
$25,000,000 6 Revenue Bonds due September 1, 1917
Price 100 and Accrued Interest
llls Overland Company regular quarterly
per cent on preferred stock, payahle Oc
,ber 1 lo stock of record September 22
I'nlted t'tllltles Company, regular quarterly
1( per cent, on preferred stock, pas able Oc.
tober 1 to stock of record September I'J.
Consolidated Mining Milling and Smelting
Companv, regular quarterly 2 per lent rav
atle October 1 lo stock of record September U
Standard Oil Cloth, nuarterl ls p
each on preferred A and n stocks anl
preferred A and If stocks anl .i mmr.
terli of of 1 per lent on common, payable
Oermantown Passenger rtsllnav,
quarterly II 31',, p4abla October 6.
Steamships to leave
Soestdyk , Rotterdam ,.
Haverford Liverpool ...
FORT OF NEW YORK
Steamships to Arrive
,.,Js'a.m.' From. Date.
l,'r."lB Rordeauif . Sept 6
VaI" i Liverpool Sept. h
Athenal l'airau Ua Trieste
. Sept. 10
flingor Railway and Electric Company, reg
uUr quarterly per cent on preferred pav
uble October 1 to stock of record September 21
American Hankers' Safety Company, reguMr
quarterly I'er trai on preferred payable
V IU B
, Pa j able October 15,
,. -rHicnr nf u ..:
.ina B. w sue iniuhnu
t the stockholder
I.' ,n untatisf..V. .. """"v on account
k" ht lumh.. --' .cniltlon3
1. t "" Lonaitlona evloflno-
nv wnditions i, ?SJ 5ar' an'1 lhe
2oa ot lumber ' cur,alle1 he consump.
, New York Cono 1lThe ""'"bers of
IS otk that r K h&V "
vlvrt. VfsAi. for January.Ftbtuary
lWtt;0CtmDee The price win
fr? ' Hue a, Vf,cemb- at 9 60. Mir
'.imVn1'6'01 n' Monday,
U Uffl mmr)i" a called lor
stock of record September ID
A R Klrshbeum Company regular quar
terly Hi per lent on preferred, rwiable Octo
ber 1 to stock of record September 20.
I'nlteJ Globe Company declared a dividend
o( $.( !
NKW VOHK. Sept 17 -The foreign ex
change market opened weak, with offer
Inpa In excess of bids Demand, l 96
4l6t, cables, ?1 9o; marks. 95',c, francs,
DEFER DIVIDEND ACTION
Directors of the Crucible Steel Company
of America todaj decided to defer action
on the regular dividend of l per cent
on the preferred stock The reason given
is the present trade conditions as the re
suit of the war.
Thessalonlkl Gibraltar ....
Lusltanla Liverpool . .
Steamships to Leave
Ansonla Glasgow ...
Finland Liverpool ....
Amona ..,.., Naples
Potsdam Rotterdam ...
BAR SILVER '
Commercial bar sliver Is being quoted
In Xew York today at 52Hc , which rep
resents s. decline of Sc . compared with
Iu London prices vers down &., at 2 Id.
FREIGHTS AND CHARTERS
The steamship market is dlsplalng much
activity in lhe transatlantic trades The
French Government has closed contracts for
six vessels to carry oats
Drot (Nor) lUlilmore to Fiergen.
1SOm quarters about 4s. nromnt
Holllngti'n tRr ) llaltlmora to Bordeaux or
St Nazalre. oats. jv. too quarters. 2s. 3d
irompl ' '
Ciascun illr ) Haltlmore lo Bordeaux oats
S"t ooo quarters .' J, prompt
Mohaesrleld Illr ) llalilmnre to plckel ports
Unite I Kingdom, oats JO imo quarters. Is d.?
OR1'0", Flfmh-Allanilc pons. 2s 11,1. prompt
Mas lands (Hr ) tame '
enlura di I arrlnaga (Hr) .'6 000 Quarter..
OkI1v (Hr) Haltlmore or Newport News to
French Atlantic ports, cats JS (Vxi quarters '
2s 2'jd prompt ' ' i
Kri'iigborg ilian ) Gulf to Chrlstlanla. 21.000
quarters Is Id prompt
I'ranlenLorg (Pan ) Philadelphia to Copen
hagen petroleum 12 ooo barrels private terms,
Hags iS'or) 2207 tons, ruiiimnr. ,n il..
Plata, coal private terms prompt '
fcommerstad (Nor.) SWt tons Philadelphia to i
Cadii coal private, terms prompt
llarpaius iBr ) J72 tons Norfolk to Msdi
terranean coal private terras, prompt I
Venlero, tltat ) aps tons Virginia to west
coast Hal coal private terras, prompt I
WestUnds iBr) 2f01 tons Baltimore to I
Tamr'co, coal and coke private terms, prompt
MjliT-he Br) 1163 ton Mme.
Horatio L. Biker 720 tons Phi'sd.lhl. in
Porf) Hi o eoal, private terms '
Easiir Wing. 107S tens, Pbliadelphls, to Bes.
too, coal, TO cents.
These three issues are direct obligations of the City of New York
Exempt from the Federal Income Tax
Exempt from all taxation in New York State except for State purposes
Interest at six per cent, per annum, payable semi-annually on
March 1st and September 1st
Principal and interest payahle in gold coin of the United States of America of the
present standard of uciyht and fineness at the office of the
Comptroller of the City of Neiv York
Coupon form in denominations of $500, $1,000, $5,000 and $10J)0Q
Registered form jn denominations of $500 and multiples thereof as desired
Coupon and registered forms interchangeable.
IV e are advised that these bonds and notes are available for the following purposes:
1. As part collateral for circulation, under the Aldrich-Frecland Act of May 30, 1QQ8,
2. As security under the IForkmen's Compensation Law of AVk- York State.
3. As an investment for Savings Banks and Trustees in New York State and elsewhere.
A syndicate of banks and trust companies of New York City has purchased these bonds from the City
at par and accrued interest, A large part of the bonds having been withdrawn from sale by the subscribe
banks and trust companies, we offer the remainder, on their behalf, for public subscription al the cost price
Subscription boots will be closed at 12 o'clock noon, Tuesday, September 22nd, 1914 or earlier in j- .
The right is rested to re,ect an and all applicaUons and also, L ,' case, to laZZt ZfZZ'to
Applications for bonds should be accompanied by a remittance in Neu York fund, of $50 for each St 000 kn j ; j :
The balance mil be payable at the offices of the undersigned, Mondau September 28th Ii onlv J I l appUed ir'
be allotted, the balance of the deposit ,7 , applied toLri the amlm?,'' f '' am0Ml
J. P. MORGAN CO. KUHN LQEB
New York, September 17th, 1914, ' l"'XwXJ uu