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New-York tribune. [volume] (New York [N.Y.]) 1866-1924, August 14, 1914, Image 11

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FINANCIAL RECORD
HERE AND ABROAD
ikcrs Against Proposal
Use Bank Notes for
Bank Reserves.
?, ? ? - ..
to the
at Wash
s paaa?
the national bu
1 *?nk notes as i
. a train el .lepo
legal tenders. Tho-,w
re.i !>v a h.mVer of
r, at the ('*
g, -??a? earnest in
ly her
.
?i balances bet?, i ?
as an ?mendti)<
I should !
? he
oposal to
had no power to act
? o made it ? more
? "iild not counte
e of them pointed
SBt metallic re?
?ut, legal tenders
?hem would
I
?..? pay. The inevitable
M a premium on (fold,
bai kl ? ancial
erreeeseal ??? to the need
. ropoan d<
..hie contro
ovrr the question
h has made unsafe the
|
autom?tica e the
though the
? cover
? >t so much
rig? I cost of transportation
currency of
:ed no
. "iiiitry
?hat lion.
H is | the daily di?-eu?s*on*
?mong bankers that a ? latiOD of ?o
? es and no precedents
.*?? has developed problems
. . ? ..n. and so a
and honorabi; of the
?
able losses in their transactions with
e\y because they stood by
: as the ?r
. d trey Ftand ready to take
ni be. in the protection of
?il honor a*> v.<T a? that of
". They ate
i.y the difficulty of meeting
sen I
y to their
? thuut
?"??ngth
. on withtl
country. Fortunately, 41 ?
being
en the ? entrai bank* of
???neri
-f* the
and credits of
i grain can
....
? ( water
? -iding bad
ttle gold, comparatively
?
out to
?:iet in .
oani t wait.
? over the
i ? -ttle devel
..'.cial impoi
1. which
a merchant mai
to consideration
'?-day
?pping men
the
. ? solu
\tlantic
sthte
and m r.
-irge increase in Ha?
- than
ivernment's announce
. .arantee thl
I
her for home
-? had been accepted pi I
1
a lia
?
? ?- '
n! gold y? * ? ' -.vhieh
I a)f was American eagles.
>e aas slightly more activity in
, in demand sterling occur
with cables slight'
Parie checks were quoted ..'
- a
U. S. Treasury Finances.
S last :?
'
DIVIDENDS PATaiBLB.
l'a?
.laie.
-.us. i;
Hag <,' .
?t ti Mig ie
STANDARD
O
MnMnnnus I ?ibi k\ Bim
I
L
CARLH.PFORZHEIMER&CO.
. Brut .i B*-??d St.. N. V.
Wlams.Vunkr&GokmoTi
i u i s ni i r
I I I ?USO ll\MH I I
? HI A ? I?
W.N.COLER&Co.
? .'.
investment Bankers
? . i n-.fl e-r. asm .???K < in.
All lasuea.
generally anticipated in
?uuf.cul (.enter- that the security
markets will he reopened at an
etrly date. Sometn.n, momen?
tous affecting your holdings may
?ccur at any moment. We sug
lett that you keep in close touch
with us either by letter, wire or
Vione. Orders received for ex??
cution upon reopening of market.
LLW1NKELMAN&CO
ItlKlhrr.?**
We-a-ad Mr,,. 111 -1
riillu?lel|>lila. l'a.
PUBLIC UTILITY NOT
General News and Earnini
Various Corporations
1 .SttBpBB? in
1 '?"-"' Rapid? I.Mir,..elc-t, i,
?a* put in ce.,.
f^"'" v . d bei
Deetli turning current into ?
,,"> v Gen? ?al Electric
P?ny . . , ,. f>f ft,
Ot Wh
end placed in srrvi.-r b-,
fmosr I. . tion of this "i
plant was begun in Februar".,
and the das itnplet?
Januar) 7 of tt.
with the term,, ?.f ?ho federal p?
by ?I e Nor
'
subsidiar) .orpon.
Mon.mgahrls V?lle> Traction
?ngahela Valley Tra
in) ha? awarded S contrae
of machinery
equipment i?i It? $300.Onf) power!
erected at Hutehineon, w
i four 250-1
; o compan?
at .le>??nne, will l.r ahn, .??red he<
of the *<??.I m the water? of the '
Port River,
International ?Railway.
.nue ?,f UM
tcrnational Railway ?
falo shous n snbetant
sei .1 ti n <
? el revenue ?????? :
? ' Op."' 8
expenses, lai
ami the etrik?
?
1118,187;
?
l :;h 14,203.07!
the pi ? .t earn
'
nuai hotnl interest amoutr
1 I 6.230 h- ii tic Mirplus ? ,i |
?id? at the rate of t','? per
annus eg paid an the i
. ? common
total of outstanding bonils .
.?'?O.
WILSON OPPOSES
FLOATING LOAI
J. P. Morgan & Co. L
sire to Lend France
Several Millions.
\\ eahington, Aug. 1 "??
Wilsen was sonfranted to-day with
problem of whether American bank
shall be permitted to float loans la
United : say ?>f the counti
engaged in .he Europona war.
Prei dent has
reache? ???.-?ion, he i? ??ron
epposed t?> ihe id.?a. Th.
? J, P. M
gar. ?- Co., lo float a lor.n i
hundred million dollars for the Frei
Inquiry wa . mt
as to whether the flotation
loan would be retarded as S ^ :(>!;*t
of iieutralitv. Secretary Bryan d
th the
?
WOT.
? . it if I
1 ork bai
?
- a loin for Austria, Im' I
: 1 be learned i
'orninl in.ee
ns tf neutrality involved.
"JHi le there il i.o provision in t
American neutrality St?
tl.e lending of money to t"
forbiddileUI it as a violation
neutra!
'
ic in E
rope ?
Americen government and peO|
?
.1. P. Morcan arrived here te
'
? ? ?Wilson and Seen
? ? . end 1
? the mo..
crops to Europe, and it could not 1
ltarne.: I B W?1 ?le
?
in the national cepita!.
BRUSSELS EAGER
FOR U. S. WHEA'
Belgian Ministry Urges Direi
Shipments?Government to
Take War Risks.
Prom cahle messages received fc
Pierre Mali, Belgian Consul Genera
there appears to be considerable aux
>.- te the possibility c
immediate shipments of wheat fro:
lounlry direct to Belgium. It ws
denied at the consulate that Belgium
situation L St was any mor
precarious than that of France, Eng
land or Germany, but ?rithin the la.-?
four days a? many urgent table mea
sages relating to wheat shipments hav
received.
Kmanuel Haven ith, Belgian Ministe
1 i ited S'a". . had a long con
ference \estcrdav with Consul Genera
Mali.
< ?n Augu t I there came a B
, irom the Minister of Poreigfl AffaieTl i
. ? lag ti- eon ul io ad
vise grain exportera tl.?t Belgium hae
d??cide?l to f..\?-r ?rar risk? ;.> when
?hipmente. Th? following day cam
:iie ?Minist?
?.i War, hn'h Ineeribed "very ?nipor
taut." The lir^t was as feile*
"Inform Americas 'ha
unimpaired
and ' id has advised us tha
.
Antwerp, all payments being assured a
in tin.?
Aug t10 i
I as folio
? ad to Antwerp ?Wing free, thi
N'ate. Mftinj
docui lading
?boat Helgian go\ernment in-ui
ar riesks for one-foui I
decide
e>.porter.s of grain to e\ecut.
?
BffortS made by Consul General Mali
nen wheth
Kroonlaiid. winch is due to sail to
morrow, would make difOCt f??r Ant
v. erp ?H would snip at Liverpool were
unavailing. He WPA told that no an
nouncemsnl could yel b? ?mad?
leatinetion. Kor whatever port she
?US effort will be made
t?, have her well loaded ??.ith grain.
TO PROBE PRIVATE BANKS
Special Bureau to Investigate
Several Institutions.
condition of certain private
.,n the hast Suie will he investi?
gated by a bpeeial bureau, according to
i. statement giren out yesterday at th?
office of District Attorney Whitman.
'riet Attorney P. J.
(Jroehl will co-operate with the ?I?
banking institution*
affair? are under Kuspieion.
of the banks to be investigated
is that of Mas Kobra, of -il Cw
which is now in the hands of the State
Banking Ucpartinent. I
FINANCIERS FIGHT
BANKNOTE RESERVE
?Say Plan Would Mean
Only Liabilities to Sc
cure Liabilities.
MORGAN MEMBER
MAKES PROTEST
Davison Declares Substitution
Of Paper for OoM "eco?
nomically Unsound."
. gestion by sotas '?? ?* ? "r
bankori that national hank? I
?
Of the "Ik?? Mil ino'.icy" now I
1.1,1?! ? more gold
? ?
?
Henry P. Di f J. P.
? I on Hepburn.
?
idaceil themselTC
I thai the project, whieh,
ished, would, in effe? '
paper money tor a part of
? ?. was Lot h unnecessary and cco
eally unsound.
"I - . opofal to ufe national
I the rese?e II
both unsound and unnecessary."
Mr. Davlson. "It would open the
to iaflatiott ami, instead of bettering
the situation in any way. would make
it .iusi s.i much more ' te con
si i?e the eounl -i ;he
I which they ouvrht te he con
seivfd at a time whl D th<
nted with the condition? which
the war m Europe hae brought about
?<i. of the war ?very ef
? I m c i -
id financial intercom
I arope, and eaeb day
I .pi'i.' ? H been iiih.1.' mi that
direction.
Sa>s Bills Will lie Met.
"An?, agitation of tl
will, in my opinion, tend to retard the
iirnt of the results d?
of the British government
und the Hunk of England is the :
eut step yet taken toward relie? ?
m. II is not ?
tion Of wh? *e going to meet
our obligations. Of course, we ?
in-* to meet them when I le doe
?hey become duc, ai d I
will he done without resort to any such
proposal as the issue of bankni
?? c.
'if you will point out to me any man
who proposes to take advantage of
present conditions by not meeting or
ng payment of bis obliga?
tions, 1 will point him out to ye
man who ?lues not know the real ethics
A. Barton Hepburn, chairman of the
d the
anknotee as lawful i ?
a liability
and that it would not he-fore
they would drive out gold as a !?
?ni i rely.
??Tin re mav be eome bnnken I
Voik." added Mr. 'who favor
I i at ?onal ban! ol re?
serve tor national bank.?, but there arc
many who are violently opposed t?.
such a scheme. National ban
the hunk Issuing the
same and not an aeOOl a liability il
good reserve against another li
aliilit;-.
Pointe Oui Wcaknc ?
"Congrees has just authi ?
than a billion dollars of
... * a;;.nu. t their
Aldrich
Vreel ire in form,
?nid legal ?fleet Indistinguishable from
?
Shall these be n
"' r: ? ? ? long
would it be befoi
the gold
? .m" banks would not
tod to count the?
? a their own reserve, but bank 'A'
could take out a block of this cur?
rency and swap With hank TB,' which
done the same thin-;. The practi*
OUld be that their deposit
I ty WOUld be protected oi
i ability."
The Clearing I smittte of
learing Hon
' ?ted, Would not
?ption of th?
t as its members were
concerned. This annonneemi
ally importent, ax the
Clearing li. snt or
ganitation, and can lay down rules in
? ?e requir?
?nnonnoemen! i that
Bunk of Kngland was willing to
discount bills of exchange accepted
prior te August I, in eiew of the fact
British enveniment would
guarantee it egainol loi?,, ?va? reflected
Immediate improvensei
the foreign '"cha?are situation. There
i largo- supply of exchange In the
local market than at any time :>ince
the European war eaueed ? rise '"
prohil The result was tha
demand sterling aras quoted at MM to
Cable transfer- at |4 I I to *??.
ami franc cables at *jio. Poreign ex?
change bankets said grain billl were
? g in mine fieeiy and that there
v??s u general loosening up i
BRIEF WALL STREET NEWS
\ preliminary oficial SStimatS of
: I
; surplus after all char?."
year eriderl .tune SO, sho -
Last \rar tliere remained m mm
'
Of $1,'.?::*,'>'.'I, and in l!?ll a de
The Canadien Peeil i om?
puny has laeued Its preliminary ineome
? .i ended Ju
|
i groan .
?
mpared with .?:
in 1912, and ?i :
ill
An .
mrpl B
ended Jttl
000 la IM there
Wale ? I4.76l
in ItlS end ? m 1911.
.tune pros i earnings of 10
?ame
' month laut >eur. and net earnings after
'.. a loss of 1*266,774.
A cfihle dispatch to llallgartcn & ?'.,
from the Sa ' s Hank Van Hi la (?ondon,
thai the committee of the New
Vorl. Hankers'TruM Fund has arranged
with the Swiss Hank for payment In
. rland of all
??? sriean ritize- Hers'ekocks
? redit._
HANK Oi I M.I \M? Itl II ItV
I^nJ .;.. Autf 11 ?The weekly return if the
...
-
I
BANKNOTES AS
RESERVE OPPOS
Suspend Specie Paymi
Before Catering to Ell
land Official Attitude
DEMOCRATS FEAR
LOSING GERMAN VO
Plan Presented in Washing
in Behalf of New York
Association.
M u I
Washington, Aug. 13. H. K.
r'^ce. ?ont of the Nati
? *, ??,;., wsm
the reprei
of National Hank of Htm Y?>rk.
ferre.i ' ?he Tr
1 '? Controller ?if the ? urrency
?
to-day regarding th? I
Non Vnrk bankers that the
?permitted by law or
dud? national banknr.
ii lieu of col?), gold ?
.-..I tender notes. Mr. Kldr
ted ?
?permit?
banknote.;, the other authorizing
Board to i end
. ? ewhoa lina,:
conditions warranted. '
reached by the fed-rnl i.tTiceals.
The . ? mi t',
? ?
to make regarding the ?i
which tic bank* found their
Mr. Eldridge told the officials that
Iforll hanks were 148,00
of their le^-a1 resenrei on Saturday
probably would be still further si
?Saturday. He ..aid the que-;
which Confronted th"* hankers and
- ment was whether the I'n
prepared to Suspend lp
payments or tain etep? as \?
en by th.. ?European s
at eon. lie sxpfail ?
of a branch of th" lip.:?!, of E
land ri Ottawa, the existence of la
? credit?1, in this country ami
! of the creditors for ?gold tt
? \ t?? the "ttawa branch madi
imperative thai the tent one! ?banl ? -
further diminish their supply of >j
atid Hold i-i :' -;d he asked
Treaaui whal teey propo
?.o do aben! it.
Loans in Violation of Law.
Mr. Fldndge called attention to
inflexible character of the admlnisl
'ion of the present Controller and
unwillingness of the banks to put th?
? - at his mercy by making lu,
In violntion of the lav.-, when ?their
servis were depleted. He declared, b?
e\ < i. th,?t refusal of the hanks t.i m
loans and thus to ? ir custt
ers would mean finan.
?:ii pi-iii.ahle that a bill foil?
ing the line of one or oth? -
i .? rs will he .-i
mitted t.. i
that it will meet with considerable i
J)..-ie ...
A number of the Democratic lead'
.'?n? op]
out of the country, ne
eef the nation, ,.i .1 S 01
? Englan
l)i. oliicials of the aiinnnisti-aUon ?
Ir. Bldridgo's rcasc
lag, but they are loath to to be put
ti?. p.. it..?h ... favoring England, ?
penally as some ol them fear such
eght ' tee 1 ??-m?.crane pai
en thi- country, a
even can..- complication? ?ri
eQermaaj.
'I ii Ht the adminihtiation regards t
? ? nil;, t;i ave aiid
one th? better
?he Tre?
ling all in tlu
limlss th?? report t in t
:
of denying well known facU'.
?.old Supply lo lie Guarded.
The Impn
?
Senate Banking and Currency Conunl
? at the Fnited States cou
rd to permit its gold RUpply
ho drained hy any Kuropean ?
"As a neighborlv act we might 1
. . ? I0,000,000,n
tor Owen, chairman of the .
"It would h.- ' , pay o?
'bout limit. \?hen other coui
tries have practi. tended t!
<el" egold. \' I could give Kill
l.-.nd $100,000,000 withonl r.'laxmg ti
reojoiroments regarding hank resorvc
To give more might sroBSS the animo:
it y of eeQermaay. The ?etatei
?? agreed '?. My f?ereign countries i
gold is not eltoegother true. We ???
tended credit, it is true, ?t ? time whe
eonld be obtained for it, but tho?
conditions do nol prevail now, and
is not fair to expect us to pay in ?r<> 1
any indebtedness incurred under tho
eonditions. The United States wi
rie payment
Mi. Owen's statement that the Fni*.e
?; pay out S inn,0(1?,,i)?(l gol
without relieving the hank? of t
en! reserve lasjniroaseata is re
ceive.l with skepticism by the banker:
? ?
MONEY AND EXCHANGE
ii.H' .
11- mark?
nt 6 l*
?'it: PAP1 H '? here ?ai n
?
l f'.r Hi
.1 Mil NO II ? UE?
Oil?! ^
-,?? ?i ? r^.lit-.r t., il,
M 04I.T44.
TIM \.-i l<> Ne? Tort a'
I . ? ?? .nt ?ine
il e
1? '. ?!. l?r
premium
l ?rniliim aake.l
titan g?. VOX
BANK ? " exchang?
, ? .
?
? ' ' -?? _
DUTIES POUR IN,
DESPITE THE WAP
Importers Begin to Draw ?>r
Bonded Warehouse
Reserves.
De.-p.te the war ? \. imi.c |
?..h- ng effect on emp?rt , money
m tiie stiape of duties continues to
pour into the pockets of
in its accustomed volume
Th!? 1^ beeaoas the impor*
^ ork have bejrun to draw ???
i the l.on.le?! warehouses,
with the result that the dull?-? pa'd
maintain . ?ame average.
When the war began, there \?
pros us in
tu? boixif'i warehouse* on which, of
paid. As these
goods ar. withdrawn from the wure
houses the duty h.? to !.?? enifi
Th? a>cra|?e daily receipts at the
i New York Custom House are about
nid the average has been
? maintained despite the war. It is not
probably th-t the New York Custom
?iouv<- will feel the effects of the war,
? ?eduction in revtn
mod, t"i at least six weeks or
months.
COURT FAVORS VILLARD
Refuses Knickerbocker Trust
Plea for Intervention.
.fudge j,.-irornhe. In ti ? federal i
?ervene In n foreclosure ? ri
the Ce
Iron
? I Gai
\ ?Hard I? ;
? - | was i tads bi Jan
Orange, ft. J ,
. hnrg. :
?
n bad faith i*; o?d. r te '
?y xtockhnl'!'
?'lark charged that the bill l*>
-
bonds held h
. f Oswald <".. Villard, valu.
iii.0. Clark also il Villard S1
r. Harold ?
; 'nier 1106,000 il
land owned by t1 <? defunct eomponyl
which < Ij $16,000.
NEW ORDER RULES BONDS
Exchange Says They Must Be
Put Through Clearing House.
The NflW York BtOCl ' ? ?' JOB?
t. rda cd I - oultf**
Bg hn k.'i l ?? ishinf" to bUl '
ruritiei te make then- otfers through
. sring House ap|
well Bl
a stniill volume o' 1
locks at the Clearing House
yesterday. Prioes ruled
abo\ | -
HOW TO SETTLE
COTTON CONTRACTS
Exchange Committee Suggests
Plan Southern and Local
Spot Sales.
breed problema of a market and cqu?
table pnc for the eoming crop, i
h. r? of the New York Cotton Exchange
[n
order to facil?tete SUCh operations the
aittee on ?rol n
iiion iasued the following
?tee to fa>- dation
, m view of the fart
that the board of managen of the |
ton Exchange has in
formed them thai the hoard bal no
authority to change existing contracts
rs of the exchange.
of the cotton trade thnt all cotton con
now open under the rules of the
New ] ' n Exchange should he,
ill dated in one position. The com?
ers of
the > ? .'ton Exchange to ob?
tain - il of their clients to ;
t ransfor all the i to 1 lecem
.:? -livery at a fair and equitable
nee. Should men '?? b? unable
aittee
M arbitrator to
ail such d raking
into on all the circum
- that
contracts should be '
?; the following differ
. November,
premium; February, 10 p?
mium; March, Ifi pointa premium:
April, 40 points premium! Ma
premium. In the opinion ?
Committee, no commission should be
charged for such transfer, but the
u-unl eoramiasion must be char-red for
?
te he the general ImpTOO
!i local circles that if it Is pos?
to bring about this I
latera mbor many contracts!
now tied up could be liquidated.
I'll.- ?port1
ed from the South nince th ?
?
came In from Augusta, (in., yesterday.
N.w crop middling v. a - quoted there
? ' d old crop nml.Hing at
11 '?.(?. .? last
I
report till "aid
to he me ne?.v crop cort?n m
the : -iii able
business ?*< reported J. ?pot
ly reported
day amounted to 1,667 bal
lie basis middling. total
" local
stock since the futurei market was
iblea from Liver?
pool reported no spot btteineee there
ami aaid thai the ma i '.<?? would he
ouoted nominally unchanged until fur?
or American nud
and 6.12d for J i iruary
eontra i rexaa Industrial Con?
' the ? r"P of that
066,000 ba d favorable
conditions prevail during the b,.
of the season
SAYS MERGER WILL
HELP L. S. & M. S.
['resident Smith of New York
Central Denies Lake Shore
Traffic Grab.
In an affidavit tiled yesterday in the
.- lour!. Alfred 11.
Smith, president of the New Yoi
tra! d Hud.-on River Railroad, denies
that the proponed merger <?' the Cen?
tral with th ? Lake Shore & Michigan
Southern Railway t'oinpanv has as its
ulterior oh I ion of the
Lake shore and the Michigan Central
railway eoi ial monop?
olization el ? York
.1 I'.'ifTalo.
Misinformation in i. ??' the
minority stockholder? of the Lake Shore
who are suing ll the federal court
ilk to prevent the merger
assertions, Mr.
Smith ?ays. The directors who are
| ?
the good of the stockholders are iden
?. both road
tention of e?rer ah orbing
the Michigan r.-ntral. which the
? ..1 now holds
year lea?e.
President Smith assert? that con?
solidation will save $380,000 a year in
accoui ting expenses snd fed?
eral taxes for the Lake Shore
holde' '?> the charge of
the plaintiffs that the merger was
designed to reimburse ?1 for
??ast outlays on the (irand ?"entrai
Terminal in thi.? city, Mr. Smith enters
a denial. I sntmry, he ?ays,
terminal ?ill greatly increase th
earnings of the Central and the Lake
?hore.
In ?apport of the plaintiffs s
?
were increasing an aftiua.
by Melville Thompson, a railway ac
.-"unt i i that
Lake Shore Itoch w.i.i WOIth at least
BOtren arid a third shares hi the con
itend of tr
that were to be given to I*ake
Shore stockholders for ?.ne share of
their stock under th. Ian.
In contradiction of
report, George Oliver May, a public
accountant, and Hoheit Port?t*, a
specialist in appraiaini la, Bled
affida* lay. In which they
said that 1 hompion's conclu?ions were
totally unwarranted. Mr. Porter said:
?'The eonuolidation on ihe basis pro?
vided, would give mi] xhold
er. of l.aK- Shore a slightly increased
intere ,,v t,e
ake Shore, and In ad?
dition, it 1U per cent internet in the
income and property now //f the New
York Central.''
PRICE MOVEMENT
IN COMMODITIES
Wheat. Corn and Coffee
Declining?Sugar at
Top Prices.
"Ihcrr lorsl
wheat, mar. lay, but
.
? ! tendency downward, and the
close
? . Sailing and loading of st?
rrs ? .? ieic'1 t" egivC
couragenient to esport?n, hut a
vprovement sngs market will
be necessary before any material sd
vantai.- I .Ken Of th? ? 0
tively open seas. Corn uas un
less urg? ? ? .I, and wit'?.
ter er. ? e uns a ?)
. ? .
? fair amount of
Dg to light Csnsdlen stocks
and smaller offerings from the country.
Cart trailing in coTc? WOS SlOB
at el the ?1 so small
going
?
\\ ith ?England In .
American refiner-, ?or raw ?ugar only
'.') per cent of the ?'?.iban crop of
remaining unsold, and
rap two month?
away, there was a rise in both r<
end rnw sngnr yesterday which cam-i
prices for the latter lo top iigup
sales ?mounting
?beul "SOCsOOO big-, with Ml
?luoted for centrifuga I,
un m. DomnriG ?uecupTi.
?
? ?
-
?
?
I ?r Leans, aaika '.'.:
llChee??, pk?
tons . 1 :
suaiv, tons
Ulllfeed, i ?.? .
?. flee, bbis ...
'
. ar adi
?? a ? '.. I ?1
boxes...
' -
?
.
bbla i 0,
II, bbla... .???'
bbla .. 1,123 It fruit, pkffi
atine. M,lu 40 Katslni,
lit. bbla... 13.1V. I'?-.,nuts. ?
plga ' ...
balea .1.12*
?
BXPOBT&
;
iL'une?. I mh
.. . 71 4
llour. .
? ..i nrneal, bis >'? Lord, tt. .
It 3.0
Whlak.- . i
? ..
? IBB <M OTATIONb.
?r-in, t?, No i ? ?
I
?
ralli . i
Wheat, Mo:
'-;, me?.? .... 21 ??>
e .
'
erial.
GENEBAL HABKET RBPOBT.
ouor,
WHE ral.ly ?mall
??auks
Infl l/eiueen H
and bankera n,,.l exporte,?, whi.h wt
?
within a ral
. : , I.
-?
owing ?
will boo? ? lean?
i
?
and the Kr.
easy.
nn.l ti; ?te In
ofler
. \.i
' ..?-.! at
No I
Nn.-lliern eptlluth, '?' I .
ern Manitoba. Ji U4c , I r Buffalo. ? ORN
?
outlook end a lern urgent eaah dem..,..!
?
low?r
?I, ? I f te
is ... quality,
. , : i? in
t bat tl ? ? ? ?? ?
, ?Un.lnr.l white
?
?
RTH -
.-If
BARLEY?Fir? ,;???? malting,
?
\i.\\ tOg* l'Hit l ?
HiKli ?LOW
.
- Il ?M?, II <H
INI I.HI?IK UM LUT?-.
VVtl<-. ?
Today.
? ar .
BKABOAXD ? I i:\h \ m i.-.
I-'lo'Jr. Wheat. ? orn.
Tn-^?r
? .?
I*st >ear .
I I ?II K \Ni? USUAL.
\ ' i . fleur.
Ill lumia. A,,:
?
?
| .
? ? -
v
I) ?in?-,!.
"? ? :
I
Ina,,. '?? arrive,
?.i-ka, |
ilk 12?.
-
. in. mi:.\i,. J
? on i
-..?rally
? .in, m
? : - ?
...
....
?
tt.at Ura^il I* I
'he flnun.lal
?
?
?
!,iit mo.
-
. ?
? I?
...
-
.. ? -? IK!?
...
... |]
PBOI l-lo*.?"
-
?
?e
all nominal;
r.iu/m
?
?
cottoxsi i D "ii
?
? R?. were llStl?. Hr ?
?. mber
. ATI *:.
m: *:-, ?; :?> ?
.Ml tr,
Executor Truste?
Ofairtond 1822
The Farmers' Loan and Trust Company
Nos. 16,18, 20 & 22 William Street
Branch Office, 475 Fifth Avenue
New York.
LONDON, 15 Cockipur St., 8. W.* 26 Old Broad Street, E. Q
PARIS, 41 BonWard Hauasmann BERLIN, 56 Unter'den Linden, N. W, f
Travelers' Letters o? Credit. Foreign Exchange.
Administrator Guardian
an BAM-M
?
: e.
.
-I ?. \K.
? ? . g,
War i?r and
:.? gx
?
: na\e?.
-
in raw an I
.
r>?tal
f. II nix?
?
v ?
'
|
era' m I, t.ttrts
. ? ?? '
? granula!
?ra fin?
.I1, on
bag*. '? ?
bates -?o mot
: ?
?
I, ?.If?; N*? :
? *>?; N" :
.' .
v. ?
Witt ' ? .:
?ing against
? ri. th? raw trugai
?-s. ami prieto
1 " ' i*l of !
by leading local ral
ml r.final, % t?S'
f.r Molasse*. 8'J teat, and f>?-jc f?r .
-
intlnir
??>? :t ii m
I tht crop remains
4
- raflatn -??re ?all,In no oast
f raw suirars. ?'onsuinp-.
?.' hit of Iba proaant ?ear
? nur
ptrloos
prtvaiil nan have he?n p -
l.i.l nisalnst Ore_l Hrttiln for suppll?*? In
??? boat-MM. Th? American
, be comparatively
.
Ml interest? havo withdrawn gtttto
?in?, th.- martMt set su^h pro
OUMTBY PIODUCI MARKETS.
. August 13, gttt,
M tti:k.
latlv? inUraat
i?. not quit? -us tctlva on 1 i,*-t. grade
?
?-?-. extra?
: liry. flies?,
roces?,
itatlon
< II! I ?-I
tin, wh.ii? mllka,
: ii?l? 'at?, ?ktms. trsmh,
- .
.9.
Arrival?! fairly lib
Ion-ally fancy
. - ?
.1 Be; l
irges 1*1-1.
I
In.Ilan Hun -
I HI ITS.
A?P Ml
APPLKfl I I'rnne
? || ? ? Astra
Bwool aa ?
t.hl Ji ?;.". -if?- IS; nearby, now.]
ill .th. L?
Kit*ff-?r. |l tTU; '
I
1er ?art- , 12 rftl ??'?k1
l'i.A.'ilK
>. *rt Va. 1
. P? ??? ti
I Mil. bukt. :?t?'t)oo: earner, Itotfll??;
T?nn. tl 1(^11 71: ?*al
Klboru le; Pl.i'MS. oarri?
DRAPES, |10$1 12;
Mooro'a Bai i'"ia-T,pio:i.
red, qt, I
Ht.ACKHKH.RIKK, up?rtTM
' . '
p r!\ er. red.
ni ? K . !'.::: hi i:s
. d Joi i' I B i -? . Noi j Scotia, 12
M.i. ?"i eral
I
? i
< | ..jrnt.o,
. Ha?. '
Cal. Il
EKRl IT. b. 13 60: Cuban,
1 Porto RICO, 5! ? 5? . PIN KAP
l LKS. Port? Rico, Rod Bpanlah, ?rat?, tee '
! Smooth ('*? ?
|3 $? WATERMELONS, Ci
' ?100?$J.o. |.?r If. ?.
?ai um iruw,
Market quiet, storks tondtag to aecumo
lata, esperiall? on ihe Krle ?heils. and foel- ,
"iflo easier. II A V <"?;.!. Iiale.1, large. ,
pi un.? ' ? per ton, t -4 9S'?> ? '
IltOfSI fancy light r'over.
|lt#IM;
NO 1 Clovor, |19tS?J0. .?-THAU-- It'.e. ,,.,1
.?r ne?*.. No 1. 111. (Satall baled U
ir toa thae lar?.- I
pol MOM UM \ MMtAM i -.
? ?veets lower.
tr Cara in
.?mice, ojtra '
, -,
II
il
' "I!
? ,1.1
Ji M.? a: d Va. b?ket 11
,? ?
m r.. i.ag. : .;
?
Y liasket, -???
' ' II
:
11 VI I.l
61 -,..
' ?
"i y. r-ask. t,
i.lMA
-y l?*|.J la I
OKIU
- ?-are.
'.-xnt. 10
Il r*'tab?,ga.
'- Il
pot ? i rt-i.
?
<?d -i
*
pair, ttottr;
?* Pf-nn, aver
U'fitarn,
-n fe.l.
I. fan'.>. ;.):v
POWIaS, bon parked. 17?
bbla u?ckad
i 'l .'K-\ ?pring l.l. ? i
? ' 1J :o .Ur*.
|
? : I ?1* il. ,
roa?'. .-?. .oft ma-rte-j
'?
A.
y: tille.
Al.tVl i "iKht rirn on trtrk. ihls
RorKlng, "f ??hl. h 24 *?er? unloo.ie..
?. it ?,t,o_t .
. ? In *??) .lenihnd an-1 ?bout >,. hlghor
.?\ce-v White leghorn* nther lt.*
?r?. t?felli?,,
'HS. old, IP,
1 I ?print?, 1<9l7i-'
Kprlng, K ?? ,
I i:'?i y !-%?:. Uli: . ir. S0?<5c. '
CHICAGO PRICES FALLING
Wheat, Corn, Oats and Pro?
visions All Show Declines.
Hgo, Aug. 19 Accumulating do.
stocks an.! | of ex?
port contracts had a depressing influ?
ence to-day on th? orice of whr-at. The
market closed heavy a' ???? to l !4<" net
decline, ?"orn showed e loss of
Ti., competed with last night, end
oats of Sc to \r in provisions the
rute?me was the seme as last night to
10c off. Rsng? of prie
Teatee
?ThSBt! i-e W'**! I"?- nos? <i?r
I" , MS
??s wmi
.1MH i?r?i itt'% t?\ '
???r ... TSV, ? I , m
. -*% 'SS
.. ? ? ? . ' .
? ?ata:
er ... mag
? ? ??'.'??? ? '. ?"?? ?'*.
, U% * ? <:N ?IS
l*rd:
Hepttxeaber ... I<N MI ?v? IM ? -v?
. .. ?12 ?II IT? l .'. ???)
II? 137?
... UM 1280 IS ST litt I?4I
September . B ? 8? B? HS MS
fl '.n ?? ,1 y. m :: ?<?
LIVESTOCK MARKETf?.
New TorW. August II, Uli.
Hill I.
Ileceipta 901 head: non? en sal* Feel?
tr.g nominally steady 1'reaaed v??f firm
at 1461?7. p<>r It, fo, o : .-, ?o rhMtSB
lit".? aide?. Kipnri.. Krlday. il cat ?to
?eh?-*p In Hormu.lisn to I"rmil4i
?...' l.e.ell? P y
< U.M.?".
ReeetpUf 4?0 head: 201 ?n aale Veal?
about ira? le??w ? . ? ?i.
sraa*??rs weak to lower Veals aold II
per 100 lb; culla, l.'/IISO; fr?-.fr?, I?.
City dressed veals steady at I5{",1|<- p?r
dreaaad d... iSglTltj?
?ale??Newton A Co n veal?, ll( tfc , ?
average, at 113 per !*.<) lb: ?, 148 lb 111;
:. loo ib, in* . . uii . ion : ,, |>. .1; is
Ohio ealvae, u:. ib. |l? '-? 3?4 lb. }?.
8. Panders: 9 veals, 1J2 Ih, |r.. 2 III
ih. IIS.
? Commission Co.: 4 v?a?. ?;?> lek
. grass??.?, |&4 lb, I?: 12 Md veauL
i?iO ih. |i; :,). 20. no it.. tu t. m lb, emWU
b |S; 10 state calves. 277 lb, US:
-16 lb. I?.
r?on ,v Co. io Md ???I?. l?l lb.
?
.?> veal?. 132 !k "
Itlfl; 4 rail
?smsav htm i um
I.SIS 111
. ?? r. J
- ?
inbi, 17 *'?. ?
I" Lire? *??! ir. itton
? ! lamba al. a
P?bln A Shannon: ^|T iv latr.td
?...
-ir, oi ib ?t? .-:.;? w v?. hi tn. M?a_H
2.? i'hlo. 77 Tb, |S5ef). *2 Kv -heap, IIS ?_H
$:>. 2, l?S lb, |S; ,4 W Va, 10". lt., IS. 7. SI -..
th. $.1.
"?son A Co. 171 Ml laml?. ?7 tb, g^SM
'? .'.I Ih. 17. t?H she-;. Ill t> ?I ?, J,
?.i SO.
talon cm 243 K? leail - 'IS
tb, ??.M ?<! fenn, .? It. ?? vi. -.-J? Cutral*
S3 n?, 17'" ? 14 th. |7. SB?***
renn > <?
-
J. tlhamb^rg A Son: 24* Ky lamb?. "') Th
?
Mm,?
Receipt?. 1.190 h. ?
? bold. Mar,
State an 1 I?.mi J'j m,
.. t>,
Sale? - ,t. Rhj ho??.
101 n- average, al I ? "??> , - r I0O n>
1ST Ib. ?O ?M,
1 -ia??i
hog,", 1-7 It I? Ou
ago, Aug. 13 HOOS Receipts. 17.
?VKi, higher, bulk of sal??. Ifi-tr*? -V>
I? !?Mx 10 4.% misted. |? 7<?**e??5*>; hea?>, tu U
- ... pig?. *i 764>|* RO
'?A'l'Tl.i; .;. lalpt?, S.600; ?t?*.ly, ber\r.,
IIOSO, steers, $? 4"uli>3'?. stockei
feeders, ? -- cows ajvt l.etfera, I.: 751?
1 ? ralT??. S*) 34 Re
I4.?a?i stea I i e$?l5;
.->: 10; lami?. t:,wqs9Ptb.
Kansas <'i,>. Aug. 1.1 H? m ?h u
. bulk, HHj$\, -?". -
4
?'Hn?l?W>. legs, *.'.tf*?Si.
-> --.-ad* prime f?.i ?t?er?.
110 U ?lr????d l-e?-f. |*M0 *>. Hotith
. Tl. I.", ,V>t4*S5?). cow?. I?
lockers and f.eders ??dis |0.
If. 2r.<T*d7S. cal-re?. IH U tj$ld 76
fllKKI' Receipt?, 2?0?.. ?teady; lamb?, la?
-. ?arllr.K.?. 1^41 Its ?Ifi; withers. gT>'?bt*
JA ??. e?>?, ISO?"' '
M I.OUI?. Aug. J3 HOOS nere?|.-. ?
Kleer pigs and lights ?7??!?i>e. ,n?x*"l
and h'.it.-hare. |S 2Stff|S SO; ego.^' o... |. 4n
*?> .?o?.)> .
native he,' ?errs. $7 .'lO&IIO 10 COST? an.?
???i'.rs, V?tf.i te, stocker? and feeders. Pbtg
|7 SO; Tcxae aod Indian aterra. I'lOIS Jb
cows and helf?>r?, I4?il?l So. nate- V
?Pill SHEBP He.-etp'x. S.S00; ?tea.'v: ra
USO mutton?, |4?SS 2.'., hunl.?. |7ti*S o?i.
Kaat Buffalo. Aur. 1.1 ?VTTT.K. R?
cripta, S?; ?t??*dy V'KAI??? Hr. elpta. 1*;
a.ti\? <uwl ?tea.l> . |?tr?12fto H'?'.
7.SO0; ?low and lower; heavy, tb butt
Ixed, Yorker? and pin;?, t ?
p?60; ?tugs. ISBOCI7 60. Ml
'.'?.?.. . . ?r 11?.. a ,1 I -
Jamba stow and tourer; lamb?, |*?,r.>2l\
yoarllngej. |.M|J7 SO; wethers. ?SSI
.?vtoe", |2 .Vorl.". 7'.. ? ?
H\ T-logTaph t? The Tribun?. I
T.o?j|Bvl!!e. Aug. 1.1 ?IHBSP an-l l.AMB*
Receipt"*, 1.102. total. 7.222 for four
.tea.!? ; choice Iv -4s.SO
>.t shec.i. 4;. ? .
dlum a-.-: ? en..n ,.: haengrd.
S METROPOLITAN g
TRUST COMPANY
of tb? City ol New Tork
4* Well Street
lr?n?sci? RaneVIng and Vrust n?Mlae?a
_ DIVIDEND NOTH >:s. ,
UNION PACIFIC RAILROAD CO.
A Heml- \anual ItlTldeml of
S?.0O per ?haire on the Preferred Mock ami
a UaaaSetSt Dividend ?f s2.n0 t..-r
?hare an the Common M??ck
1 of thi? I'omptny ha\? tli'a day l.een d?
payable at th? Treasurer'?
.. N?"? York. N Y on Ihur?
Ua>. Ottober 1. 1911. r? ol
la? IP M
Tiii- ?t<vk transfer books will not
?1 r.r th? ?payment of the*? dlv,
?l*ri.l?
Stockholder? who ha?e not ?Ir?.?.'
sti are urgently iei|U..?".
I orderet with ttie? un?l?r?lened. from
whoas blank f"ir:os m?y t^ had upon appll
, cation. ??
;?i:r.i?- \ K .'Hosh? TT?a? -
.
SOUTHERN PACIFIC COMPANY
DIVIDEND NO. 32
a QiARTKHl.T m ?m Pellar ?ad
Flit? CenU itl.?ei Par ahar? ??? ?h? '"?pit?
: of Ihfc ?ooie?p?i.. lias tseasi declare-! ?
'. Tr?a?iiw? Offl<?. R? . \nr%.
s > ?jn ?k'ober 1, 1*14. l? siockl^M?T? ?f
?A-?"Of?t ?4 1 o'clock P. M oi\ TiMwlay. Wirttiobir
' 1. IStl Tl.? ?io?k ?rau?l?t tu?
, nutsl fer II? palmen? of t' t? dl?l.l?ial t"brci?
?111 b. mailed only t? liix-kboUrrs ?bo ha*? ?led
ptrmao?m di?M?ad ?rdtn.
* K \as emeuprtrnx tr???ur??.
Aagut 11. 1*14
THE AUIMH l.\l"KK>t UIMI'IM
N? t, ' Ii-. ,
N?w fork. Augus' II 1914
Th? Transfer llt.oks r' r .
will be closed fro?.
17th. to the morAiig
111!. CAUUI bfti't.s. t.i;. lc?aaur?r.

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