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EVENING LEDGER-PHILADELPHIA THURSDAY, SEPTEMBER 17, 1914:. 13 FINANCIAL AND COMMERCIAL SITUATION AT HOME AND ABROAD-MARKET REPORTS DEWS COMES TODAY OF THE FIRST STOCK 'CHANGE REOPENING Brokers in Sydney, Australia, Will Resume Next Mon day London Discussing Resumption and New York Awaits Its Decision. First news since the beginning of the ' Europenn war of a resumption of stock trading nt any of the Impoitatit centre where tlio Bcliangcs wcro closed camo today from Sydney, Australia. It an nounced that tlio Stock Bchnnge there fflll bo officially opened next Monday. Tnls announcement naturally Increases the reeling of conflilcnco ovorywhero ap parent that thine nro on the mend nnd that the financial world Is nearer a gen eral resumption of business today than lit any time since the end of Jul, when the Exchanges closed. In London today foreign Exchange bankers met for their (list session Blnco tho war began. Whllo there was no business of nny mutcilul Importance transacted, tho session Indicated that every aid Is being given tho Government In It' efforts to epedlto foreign exchange. Another favorable Blgn Is tho announce ment of repeated conferences being hold In the Metropolis between representatives of the Government banks and the London Block Exchange Committee, concerning the reopening oi uic i-auhuiiku. New lorK will take no ncilon on the reopening proposition until after London las taken tho Initiative, and Philadel phia will, of course, do nothing aiong this line until after Now York hasolll clally acted. Washington broken s soo such a gen tral Improvement in tho situation that they have already had several meetings to discuss tho advisability of reopening. It was finally decided, however, to take nc action until the Now York situation ras teen cleat ed. Brokers In New Yolk say It Is ex tremely probable that tho lcopenlng, when It comes, will entirely confoun'l gl' prophets. Moro than likely tho ob stacles which aro In the way of a re tumptlon of business will appear as for midable as ever until tho oftorts being made to overcome them shall have been successful, and the rolling away of the clouds will be brought about almost an sudden) nnd unexpec edly as they nroso Public offering was made today of the rcw JIOO K0,0X C per cent, note loan re'Otlated last week Just how much of It will be allotcd to Individual Investors, Is not known, since thero Is no indication of the amount taken by the indicate of IS Now oik ba iks and trust companies Tho bonds and notes nro being offered at jnr nnd accrued interest. They bear inter est at G per cent a jear. pajabo Match and S nti mbcr and uro Issued in coupon and registered foims in denominations of WO, i'OOO. JMOOandJ'0 000 The w HI ma ture as follows: 37 000 0C0 C per cent cor porate stock notes due September 1, 1913, J1S00OOOO G per cent revenue bonds duo September 1. 1316- 23 (W 0" G pei cent, rovenue bonds duo S ptember 1, 1917. M'ten the last pnment was made yes terdrv nfte noon by New Yoik financial Ins l lions, the llguies showed that about JleWOi had been puld by the banks and truft companies In sterling ochungu and J6,0 0W in gold. Some Inu'ilcs wtre lerolvcel hero today bj Investment bankers from Investors Abxlous to take part of tho note and bonl offering. It Is not likely howevci, that there will lie much of tlio offering ab sorbed In this section Tho notes and bonds, exempt from taxation In Now York nro subject to tho four mills tax In Penn'-vlvanla, In the enso of Indi vidual Investors This brings tho yield down to about 5.1! per cent. The titterings are however exempt from Inderal In come tax It lias been cars since such t hlsb er-irte obligation barked hv the credit of New York cltv, was ofterod on such an aMractlvp lnsis and one of the chief reasons why Investois hero may not got Into the market as extensively as they would like Is that distribution will probably begin In New York, whore alreadv it Is undirstood, there lias been an oversubscription. '.ocnlli there continues a fairly good trading in nocks although within tho last few days a fulling off In transactions Jus been noted Demand for lilgh-gradu uonds continues active under tlio elreum Jtances One largo house here sold 17.- worth of public utility securities th's afternoon, all of which represented nn investment In a slnglo issuea gas prop osition In West Vlrglnln It put through iso good bales of another utility secur ity, covering publ'e service coriiorutlom. In the Middle West It was told this afternoon of one local 2tor ln. L'nlteu" s"tes Steel who sold ,, wo"" of Ule" securities on n basis I il i .' r w,t" the Proceeds of the fi. i i0llBllt '"tuffh and within two Z!n lm8ne', u" ll ,ro,lt ai'proM- r,g iiocoj Shutting off of Imports ,L tuf3, rt,, t" the war, has Inllu- j ii-miuu ror them which enn bo met RECEIVERS FHP COPPER CO. Iteorganlzatlon of $0,000,000 Con cern May Follow Proceeding, NIJW YORK, Sept. 17.-On tlio applica tion of threo small creditors, tho Ohio Copper Company has been placed In he hands of lccclvors. Under a Joint bond of $20,000, m J. Hlrsch and George C. Austin wore named receivers In New York Por thO ntlriinsn nC fAri,vn,.l.l.,r tttn MA......... . - .vw.Qiiiiiaiiif, iiiu t-uiltmiiy, a bondholders' committee has already "e-en lormeu. juitorcst on tho bonds was Jefallllcd on September 1. TllO lepplvplshln wna n rt.,,1t. n.,n Tlio mines of Iho company are In Blng- urn, u-Miii. n is sintcu mat tno liabilities nro about $100,000 outside of the mortgngo bonds, which ninount to $1,760 000. Tho capital stock of tho company is $8,000,000. THREE-GENT FARE DECISION IS VICTORY FOR UTILITIES MEN DIVIDENDS DECLARED HouRhton fountv nicctrlc Light Coninanv, rcRular fetnl-aniiiml 71 cents on prercrred nnd "i cents on rnmnion both psinlilo Novem ber 3 to stock of record October in, lllectrlc Htorngd Ilattery Company, rcsultr qimrterl) 1 per cent, on common and prefer roil, tmjablo October 1 to stock of record September 121. American Ons nnd Klertrlc Company, reitu ni quarterly 2 per cent on common nnd l'& per cent, on preferred rbo common Is pi nblo October 1 to stock of record Heptcmlier 11, nnil tho preferred In pnalilo November 2 lo stock of record October 21. Li Hoso CouSnllilnteil Mines Compnnv, res vlur qtmrteilv W& per cent, pajntlo October 20 to stock of record September ."0. Kolb Itakcry t'ompiny, resular qinrtcrly 1 per cent on profencd stock payable October I to slock of record S-eptcmber 111. Proctor A. rianiblo Comnimv. rpfftibir nuar. tcrl a per cent on preferred slok. pavablo October 1", to stock of record September 2(J WIIIjb Overland Compan, resular quarterly l?i per cent on preferred stock, pnynblo Oc tober 1 to slock of record .September 2 I'nltod tnilltlca Company, rctrular qmrterl Hi per cent, on preferred stock, panblo Oc tober Into stock of record September ID. Consolidated Mlnlnir. Milling and Smelting Company, rexular quarterly 2 per centi, pnv tit lo October 1 to stock of record September 1J. U. Si Court Ruling Declar ing It Confiscatory Ends One of Most Remarkable Traction Fights Country Ever Saw. COTTON PRICES FIXED Nt5V YOUK, Sept. 17 The members of tho Now York Cotton llxchange have re ceived notices that Liverpool has tigtccd upon a price of SCO for Januan-rebuiary dcllveilcs, effective today. The price will bo adjusted for Docomboi at 9 30. Mar gins nro duo nt Liverpool next Monday, and checks among members arc called for until that time. FINANCIAL NOTES A call for tho condition of state banks and tttist companies In Now York States, as of September SI, was issued today b dtnts Supetlntendent of Hanks Richards. Tho pissonger tia'llc of tho Intel boro Knpld Transit Coinpan, of Now Yoik. In the subwav dining tho vear ending Juno CO amounted to .M J, IIS 103, an Increase of 1.',0I1593, according to figures compiled by the Now Yoik l'ubllc Service Commission, as Indicated by tho number of tickets sold. Tho bnnks lost to tho Subtieasury jes tcrday $3W,000; since Frldti $.1,619,000. A cable icceived In New York from London says that 2 000.010 of Trench trcasuiy notes have been placed there. The iciult of oterdny's ballot by tho New York Cotton Exchange Conference was as follows1 Meradden and Company, 100 bales, A. Noiden and Company, 100 bales ind Weld and Company 100 bales, till sold at C0 cents. Th" m'nlmum rate of discount of tho Hank of Uiiglnnd remained ut 5 pel cent toda Tho annual meeting of the stockholders of the Noithern Pacific Itaitroad will bo held in New Yoik on October 15 BAR SILVER Commcieial bvr bllvei Is being minted In New York totlav at 52c, which rep losents it decllno of 'jc, compared with esterday's pi Ice RAILROAD EARNINGS hUAUOAUD AIK LINK. llflt Dt'craso Tint week ert JlliTisi) W" Wl Vrom Jul 1 :i.8 0 7K 1M, OH enced hardi UANK CLEARINGS tPoniJj.r'ie,1,line'! yUv co"'paro with corre wnung uay lut tivu years n. . I'll! u ijiuHi,, llOaton -71- . 17 11(1 1 $.'7 mi tin -'-Mil- .'1.' lilt. $j' ir.i.nn J7. 1110,115(1 CARE OF WOUNDED IN BATTLE The earo of tho wounded Is necessarily nn Important tlut Itnpotod on overv na tion In c.iso of wai, and the methods j'dopttil In European aimles as told In un nitUlc in tho S lentlllc American, Is partlcularlv Int, re'tlng as will bo seen fiom tlio following extract Tho gtnoril sv.-ttm adopted for provid ing u mi dieal service Is practically Iden tical In the- armies of nil tho gieat pow t rs It contompl itis a divihlon of tho servlco Into tluee portions that which belongs to and accompanies the lighting troops, that which pertains to the base (of supplies) and tho line of communica tions and that which pertains to tho homo tenltory oi "tho orio of tho in terloi " Tho piluriplo governing these ter vices Is thnt nothing but llrst aid and enieiginc treatment should bo at tempted in tho Immediate one of com bat, and that having received this treat ment, tho dlsahltd should bo quickly transported to the "Inse " where abun dant facilities fot their caio can bo pro- vlchd without encumbering tlio fighting foices Horn nt tho base they nro care fullv rhit-silltd. and thosn who aro so borlouslv dUublod as to bo unfit for fur ther bervlcii nt the front urn bent back to hospitals at home, whllo those who aio less seriously disabled are retained until then aio well enough to liavo tho hos pital when they aro transferred to the cunvae-ciiit camp. Here they icmnlii until tlit J liavo fully itgalned their btiength, when they rejoin their regi ments at the fi out. After n strenuous fight which tasted many months and which wna watched with unusual interest In nil parts of the country, the three-cent faro controversy in Toledo, Ohio, has at Inst been settled. Judge Kllllts, In tho United States Dis trict Court of thnt city, has decided that tho city ordinance enforcing this rnte Is confiscatory and ho has ordered a return to tho old rates, five rents for each pas senger oxept during the morning and evening rUHh houis, when tho rate shall remain nt tluee cents Decision In tlio case was a victor for public utility Intel csts. Whllo the fight was on between the Toledo Hallway & I Light Company and the city authorities, thcio developed a situation In Toledo which has never had a parallel In this country. The compnti, after March 17, when the ordlnanco became effective, declined to accept the three cents offere'd by passengers who boarded Its cars, and those who did not produco the llvo cents which tno company declared to bo Its regular late, were permitted to i Ide free. 'J hero was no acceptance of three cents fur o ride except during tho rush hours. Tor live months the company operated Its cars unde'i this regulation and its olIlccrH figuied that tho losses incident to this nrraugement avcinged $1,000 a day. Yet tliev would not retire from their ciiiglual position In the matter and they dettrmlncd to light It out to tho end. They declured tho principal of the lower lure scheme to be ull wrong and on the Siound that tho securities of the company were being seriously impaired by the low rates, the fought every move for en fore cmont of the otdlnancc. Early in the light Henry L. Dohert , head of the company, offered to permit tho city authorities to tako over tho ear sstem nnd operate It for a year to prove that tho low rates of fnio were unprofit able. The clt declined the offer, but It submitted to tho voters a proposition to have the municipality buy tho property and operate It under a municipal owner ship scheme Tho voters, at a special o'ectlon, agreed to tnls plan, but there vns no provision for tho ci cation of u bond Issue with which to purchase tho property. Judge Kllllts laid uporj tho city authori ties the bunion of proof to show that tho company's revenue, under the three-cent fare ordinance, would pay Its operating e?.penses und leave a suiplus of from $300,000 to $100,000 a year. Such proof was rot produced, In his opinion. Judge Kllllts said that the city should hnvo had, when It passed tho three-cent fare ordinance, knowledge that Its terms were reasonable. Neither the city nor a court has the right, he said, to fix an arbitiary rate of fare without the knowl edge that such rato will pay operating expenses nnd lenve a reasonable return on the Investment. Hy this, ho said, he had no reference to bonds. ' 13 It possible that the city Intends to occupy tho position of dog In the manger forever?" said Judgo Kllllts. "If the orninunco is unreasonable tho company cannot be held to its terms by tho mere fact tint It continues to operate. Wc must have tiausportatlon. Then for the city to say thnt If tho company continues to furnish that transportation It accepts terms which may bo unrcaeonable Is un conscionable." The Huntingdon Development and Gas Pomnanv. m.initiFOrl hv T W flnrlr Jf Co , of this city. Increased Its output ot gas from STOOO.OOO cubic feet In July to 140 000,000 cubic feet In August. Tho com pany has valuable concessions In West Virginia nnd Its securities have recently lcn In active demand. fetock of the Cnplt.il Traction Company, Washington, D C hns gone to a 5 per cent basis. It has boon on a 6 per cent, basis lor teveral yoar3. Tho cut In the dividend rato was authorised at the niert Ing of tho board of directors and Is tt tako effect with the quaiterly dividend payment due October 1. It Is duo to de creases In earnings PORT OF PHILADELPHIA Sun and Tides Sun rises PHILADELPHIA MARKETS PROVISIONS tnm iLa"'Js u,li lhe nmil. without lm- 'If'' v ..J, ,'." ?et. Vnu)",'i ond nlr-drliM Ui Hi br Lr,',' . ' ?' ''i trtd Hinorfed ll'tt l.'i lr lrl. i 1i"u,1u1,,,nd itndeu emokid mid Imdorj , , V. tern beif knuckles and IUiu .V"',."1' '-,rM,u beet - tiann JIUul. e Jihir ''jiiu. do BinoUd, l'jdr kunu, i '""'." .Wi""'- " iu"-d ' ''.".,.,', 1,SH"- do, boiled lono l, 1 t. .i "1c"Il 'boulder & ' il IMHh, ,p ; aciordlnK tu uveraga looae. . ,,f "l b.uccl1 w brand and "1il irKT" "V,:1 ,-Mc . InrU Western tub. iu,,ii ',1-ifliy4c . do. lu.. do. ikrri i ,i l ,"r'1 l'uro clt, ktftlli) clt k-?ti. i',"ief , l -. I lard, pure "" "nJere.t in tubs, JHtlJc. n SUGAR Su"LJ,,i"a,kel ,lrm '"' nulet. rulated :r.a?i,-,', 7 lilMTOSc: fine ' '" iinr. , .7 ' ' .,'0'- I'ovvdercd 7.33 '. l"4i u','irs A 7 T.-0c . "ft fi 12 a m.Suii sets .. I'Hir.ADKM'HIA. IIIrIi water.. 11 10n ui. lillsh water (. .it a m ll-oiv nater . HKKDY ISLAND. S ssa in llllzh wnter . 1' Uam Im water . nitKAICVVATKIt. rt 31 a in IHlKh water . Low water IHeIi water Low witcr HlBh writer 0 08 p m. ... p.m. C 1 p m s r,7 p m. 3 ui i m 0 12 p.m. ... p.m. Low water. .11 4N a m IIjuw water Vessels Arriving1 Silirs. Humarock, Kmmn h Lord and ChlUa Harold. Nova hioiu laths. Name, Foemdik . Ilnerfrd Ancona , . Steamships to Leave lUSSENflKIl. for, Ilotterdnm .. Lhrrpool .. , .Nuplex Date. Sept. 17 rtept. 1U .bept. Ill PORT OF NEW ier li mil tr .Oldi lemons, per bnx 1il, ilntamlii in r rule Porto lib ,, $1 smi 1, v-aln J Inrlli MiSV .ruiKrrlea I ni.o Cod Kill vi,V?ft . ' . I'.,r '. " I'"1 cninoerries rune L'ou. itait J. 1 iirli Illicit ur trat l 75fii eranUrrlcs, XVi,,S,r Jpri per i rato Jjrk $1 7W'-' -" IlKht. n , Allienal .. Mihlnli ,tr '.i II, lunktt L".fiVu, At, do , I TliJfff,'.?""" In r c lfll 7V fitXI ll iln ll.li,ti,iru nn.l M,..! iU4)ailla . I.init iir bmkit S"l1i7V ilu , do ti into, I 7v il w prnihrs PinnslimiU I er buikct, . h ' r II m ' - TJl i ili hfw .l.rir.,i ,. I, fl .. .,. . l ne, . . .ll. .! , .uia, w.i.f ,....- I". J . f,P, 1' I il i'o .1", vellort ir V-bii-ltet lv fil luri- miirl" icr III ll.irtltit No 1, JVTfil I ,l N- J .' 7V'il -". I Inn aluvfrlle. No 1 'jj)V do No iJ 7Vii '.'V i(,m Nik Turk be hoi, prr I bl JKiV rlliei vurieths, IJfi I grains boutli, rn Ue'ltiare in urrlir ,rTi' i mt- t mi nrd 't irate lufjuii nliMiid per S'lt, bitfkit "in, V tuntn otipcs. YORK Name Anionic Mniiiiou l 1 Inland A mono, Tournliio I'otmiaiu tritic .. DAIRY PRfinirr'rc Jew VorkiT'-i'J" tatter and prliw firm. fair t. i KeJm i hole. IU',itlW-c , do., HUa,r tu 15v-.ilix ,' Uo " litri itlii: POULTRY JJhiJ'TtJi'1 'f',r al,a he market llrm f'eker, ,'; ."11 """tor. Uui. , iurltK S lt,t (.ndovJJ"!.". . lcr.Va,r oun w.lVbliirt Je '"j "Wrl'l'f , uT do u "IkIiUib I lb FRIs-iTT pniiT'i'o ... lUUUQ l!", i'.i .r.'bl lancy arKtl.s. vim, i o ..-0 Bppj'ueirw.re miMiid per ft'io oixii "ur 'x tuntn otipcs (Vlifxlo rr irnlo Xll " do do Hats, nt,.1. anrnrni.lnru l.r.i 1 nn 11) t.Cll YKGKTABLES potatoes nioinly vvltli d.rrmnd absorbing ''"' tmitralo ulferinss oher ivetabUs In ftlr rnjutBt and ieid) hli (lutatota, tier buili IVnia i hull o 'Wu. do fub t, good, itt (liiSi ulilt putuioej Jiricj sr bakft P ftft sweft tmitiioes Faatern dtinrif. ihi Llil, No. 1 l1iin Vo .' 7V1 neat not!u N I i bbl No I JI T32 No i tScbtl. ett Jir.cs ar bbl Vo 1 $ 75 No .' $1 a Hit 73. meets Jirst ir busket. 9'iilk.. onb n. Wn'crri and fonnpitliut Vallo rbolte. per twj.lb Uik (1 i;", oiiluni uii'dluni. .r lt il, bag Jl labtwiiv doicti nr tun fl"iH ulit) N ). Per bunih l"tj.i(k. , inuihwui, pjr lb I Jbk.t Mk Uil ui CHICAGO LIVESTOCK i IlK'Mil.. 'ipt 17-lltXJs lUelpt 11 Olio roarkiU Itl'i liUlur mind un 1 butibcr fiMiiiitr, t,ouil lumj Js ti!i l'i roiuib luavy s STjb W llht S. sMi' IS ili. 15h71 bulk KU20 e'APn.K RutlpU 'i.itx) markets steady UVvs. " 10 till .oi in li lit Jl i 7j ItiiJTs v-'OiKii, Texans J7aiSM talin JO 00,(12 'I' hlltl p lleelpt 10oiX mark'M M-id pi he and Western, si. ,9 b.'l limi- J't.11 J. T Steamships to Arrive PL'U today Proin Dato, ..iiuiuiaux nept. Liverpool bept. , .Patras via, Trieste .Gibraltar .... LUeriool .. Steamships to Leave Tor (llasKuw ...... . . Iiiidon Llkorjiool Nuplea Havre HotH-nluni . Naples fept I hept 4 brpt. 1U Date. "Opt IT bept 17 i-ciit. l'l hepi l'l fcept in hern 2j bept .'J DECLARES FRENCH SOLDIERS WILL IMPRESS THE WORLD i American lawyer, Resident in Paris, Says They Are Strong and Determined. NCW YOIUC, Sept. 16-Doialtl Harper, an American lavvjer who has piactlced In PnrlH for mnny jeais, arrived today from Montrenl, nfter crosslnR the Atlan tic In the Iiurcntlc. .Mr. Harper said thru tlurlnR August he serv'cd alter natcly on the American Committee In London and the Amorlcan Committee In Paris. "When I left Paris two weeks nrco last Thursday," Mr. Harper snltl, 'nobody seemed to think the cltj could fall, nnd It Is my opinion that It will not. There are s many us 20,000 Americans In Pni li now I know that tho wai was totally unexpected In Prance, and certainly tho country did not wish for it It Is as sorted Hint between four and llvo mil lions of able-bodied men can bo called to the colors, nnd I want to tell you tlirU- tlio Frenchmen of today aro tho most detci mined lot of people ou evei saw. They aro qulto serloui. It may sound nucer now, but tluilng the Mist lew dnys of the war some Americans who went to play ffolf at Tepeco. wore required to refrain, as this was not serious. "TIiIb feneration of Prenclitneii Is qulto different from that which foutrlit In 1S70. Hoys and ouns men have taken up athletics and have made wondciful physical progress Thero Is far loss drinking In Trnnco than there used tti be. Before the wnr Is over tlio world Is fjoInK to be Impiesaed with the stam ina of the Kirncli soldiers. One "fault they lrive, and that is imprttiousncss. They nre hard to hold back. I know the French ns few foreigners do, nnd In morality they nro not excelled. Mind on. I nm not speaking of the boule vards nnd the Ilfo that Is made for the tourist. I nm talking about social con ditions among the real French people." STAUNCH OLD SHIPS If tho life of the old man-of-war wai longer than that of the present dread nought, the old merchantman lived longer still. Tho Lively, for Instnncc, when wrecked at Cromer In 18S8, hnd been afloat two j ears over a century. The Lib erty, too, built at Whitby In 1750, was In regular use till 1656, and the Bct3y Cains, which began life as a frigate and ended ns a collier, went down ln her 137th year. And In 1W2, according to a dally paper, the Anita, then trading between Spain nnd America, dated from the daji of Columbus. MILLIONS SPENT BY READING TO REMOVE GRADE CROSSINGS ferred illvMfndd, cornpuml with 17 RT oe 'Cent. on a net corporate Income In inn or. II w .' for thrpo companies after deducting preferred dividend. 11BA1MNO ISA1I.WAY rtJMI'ANT mii-it 1HI2-11 ftfcflrt 47 121,170 Ml) :2 7 7 nxpenioi ILTIO.ZOS 30M7.IIO Net Incomo from mil operations Outftlilo operations net from oil tn.iiotni JttlO 1101 20 01 r, 170 Ninth Street Elevations Com pleted Holding Company Surplus Equals 12.17 Per Cent on Its $70,000,000 Common Stock. Attell to Get Another Chance LOS ANGELES. Sept. 17 -Abe Attell, former featherweight champion, was glvan a chance to regain his lost laurels, yciterday, when he was matched with Johnny Kllbane. the present tltlo holder for a twenty-round fight at Vernon on October 15 The weight agreement calls for 122 pounds iln&slde. Weeks New A. A. TJ. Secretary BOSTON. Sept. 17. It was announced here last night that Bartow S Weeks connected prominently for many venrs in nmateur athletics, had been appointed tAe.TiP0ar,JJ ,8ecFeUP' ot tne Amateur Athletic Union In plnce of James V. Sulli van, who died suddenly yesterday. Luhln Stars After Gaines The Lubln Stars have open dates on September 20. X and 27. Teams desIrlnB this attraction communicate with Butch Bbinger, Lubln Studios The Philadelphia and Heading Knltwav Company spent JJ50.071 for the elimination of grade crossings In the fiscal year which ended Juno CO, nccoidlng to the nnnunl Kport of tho company. Just la sued, covering operations for tho year. A total of JI31,6IG was expended on account of additional main tucks Tho sum spent for giade crossing elimination was nlmost v'.ltolly In thn elevallun of tho tracks In N'Inlli street and oi thu Richmond Branch. Up to Juno Zf), th'1 I'oinpanv lind spent $;,IG2,6CS on account of the Ninth stteet dovatlon und $1,161,115 on account of simitar eoti&ttuetloli on the Blelimond Branch These minis are etiluMvo of what was peiit by the city tinder tho agreement foi tho abolition of giado crossing" The elovntlon of the Ninth street tucks Is virtually completid. The total amount spent bj tho comp my In the vear foi additions and botUi incuts to tho property was $2,021781, a dcraso ftoni tlio pinv lous tlscnl vnr of '.00,77' This jear separate repoits nip issuitl by the threo Beading eotnp mlos, the Heading Company, tho Philadelphia and Beading Bnllway Company and the Phil adelphia, and Heading Coal und Iron Company Income account of the Bead ing Company hows a surplus for the vera of $ll,:i:.',0GJ, intituling the amount lcctved bv the companv In the distribu tion ot the assets ot the Temple Iron Co.npanv under n doriep of dissolution hy the t'nlted States IJlstilet Com t This surplus compared with a surplus of the previous cnr of ?10,W.1,9T0, and Is equal to 12 17 per cent earnrd on $70 000 OUT eorn mon stoek after the dividends foi the Hist nnd becond preferred stocks have been deducted Last veai 1717 per cent, was em nod on a net coiporate Incomu of S15, 0D'874 for tho tluee companies The annual report of the Philadelphia and Beading Coal and Iron Compan for the llscal oai ending Juno 2) 1014, shows gross receipts ot $3.2,701 &82, compnred'wlth $10 953 063 in tho pievlous year. Not oper ating pintlt was 3IS,3G7, compired with J3.7SC91S In 1911 Theip was a balance of $715,S90 nfter the pivment of ned charges compared with $1,131:92 In lilS The heavv decrca'P in earnings was due principally to the falling off In the sales of anthra cite The following table show Income ac counts of the Bonding Commny, the holding coiporntlon and the Reading Ball w ly Compniv for lir-u and 1912-13 nnvDa company 20 I2rt fKis 1 1W.47W in, 12H '2n 1 240 74", s,27aiwi Sittt InnnMA operation n,700 IBS Tales 1.2D7. V)1 Operntlnir Income. . H'2i2?! Other Income .. 1.-1 '.H" Oro rorponte Income 1" 'Mini ' Inductions from Income 8 1IK1.K1H 7 12ili7it I2(i!inl Additions and betterments 2 Qi4.78.t 2.1D1 "a Net corporate Income . "s". 101 .MS $'I.!I8.007 Notthwestern PnclflP bus plnced an or dci with the American locomotive Com pany for nine locomotives CrinadlT.il Pncinc Ballwaj wilt carry out Its program or rolistiuetlon this eur, say Mil tMmund Osier, ti director of the pnmpanv Up raid that tilt company Is ahem! with financing. Itccelpts lxpcnsea ItHI-H 1012-1 I $111011 lis SI-, Iii7 l'l 102,110 10-1 &-. KlRir'iis fi' h-i .', 101.100 ",2'S ill 12201.2 $innoi rio Interest taxes, etc Surnlua for Cflr i-qual lo 1.' 17 per cent nfter delecting pre- ARMY-NAVY GAME HERE Dig Contest Rumored to Be Slated for Philadelphia. WASHINGTON, .s'npt. 17 Accoidlng to a rumor which rostiltPtl from u mcptliig jcsterdii ot .Spcrrtnrles ilatrlson and Daniels, ot tho War and Nnvv Depart ment!) respoctlvely, this v ear's Annv und Navy football game will take place In Phllad'lphla, provided both schools sanction tho ngieenipnt presented to tlnni This agreement Is said to all foi the game to bo hold In Philadelphia this eir, but aftel that to alternato between Washington and New York for n poilod of eight j cars AIRSHIP SPEEDS IN WAR Thp speed of an aircraft In war seivlco Is an Important problem In war service of .my kind. Thero was n tlmp when aeroplane speed V as Miboidlnnted to tlui.ihlllty and strength But In those duss Uhico vejrs ago) utroplano accidents were morp frp iltient than they are now. It was thought then that biplanes would be emploved p cluslvcly for mllllnry purposes beeausp of their stanrher construction. Indeed, tlieie was pvph nn undei standing If not an actual rule In tlio War Utiles of the European Powers that liiplnnrs wore to bo ordeied in piefercnte to monoplanes All that seems to have been ehanged Both tvpes of mirliluos nip to be found in use Monoplanes nrr stamli enough to withstand oxtraoidinary stiains as tho looping pcrtorm.inccs of Pesoud and his imitators havo abundantly proved The rrnln consideration Is that of s,pecd. dlow miielimcs cannot be used nowadajs. In other words, machines that tiavel at speeds of less than 10 miles an hour The policy of the Trench annv Is a good cagp in point. Be'tween l'tl2 nnd 1913 ordeis for tho faster Henrv l'ni maris Increased b "Oil per cent , while thofio fot the .slower Maui Ice Tarmans dv reaped by over 30 per rent. As toon as Maui Ice Parman in crenred the speed of his machine by lelegating the elevator to thp tall and making other Improvements It was r storeo to army favoi The aimored urn rhlne. too. Is much f-ought aftPi In 1912 for example, only eight Volslns of or deied As soon as Voibon pioduced his steel 70-mlIe an hour machlnf. an ordei for thlrt-one was promptl placed. CENSORSHIP EVOKES SEVERE CRITICISM OF BRITISH PUBLIC Official Press Bureau Ac cused of Blundering. Skirmish With Correspon dents on Geographical Problem. LONDON, Sept. IS -British and foreign ncvvspa)pr men nre poking much fun it the official Ptess Bureau of the War De partment The censor Is declared to b not so much thoiough as Indiscriminate In his blue penciling The Press Bureau was founded at the beginning of the war, It was announced, to sprvti n3 a medium of communication between tho Admiralty nnd the War Of fice und tlio public, nnd thereby to serve the nwspapcrs and public with reliable news. Tho llrst piece- of niWH Issued by the Press Burr an gave rise to tho preliminary skirmish with the newspaper correspond ents It was statrd In a paragraph on opprallons In Bt Iglum that thu Germans werr Intrenched along the lino of th River Alsne Thp River Alsne was not inpntloned In mnps and atlases of Bel glum, th" correspondents found, but ther Is a Rlvpr Alne In the Trench Ardennes Mountains So ipprespiitatlves of thp newspapcis hurried to the War Olflce and the Pres Bureau to eleai up this hazy point. "We can give- no Information outside tlio offltlal statement," was the bland r- Ply "But ou pee how impeirtant It Is to Know whether the Piench River Alsn or Home smaller stream In Belgium ! meant." said one correspondent. "Wc have- nothing to snv beyond what Is contained In tho official communica tion " wa3 all the satisfaction he got. After a deal of arguing It was ascer tain, d that the official who had drawn up this particular statement had goni homo and was not to b" disturbed In his slumbers, and that nobody else nt the Press Buicuu knew anything about tho mattci The Dull News hud this to say In an editorial: "Most people know by now that the censor Is nt work and very active In this count! No patriotic person will com pldln of that, so long as the censor does his work In a rational way, for the Im portance of preventing useful hints reaching the enemy Is obvious. The cen sor becomes a subject of complaint when he bccomi'3 unreasonable, and there Is an Instance which shows how the thing should not bp done "A week ago a Belgian newspaper pub lished a plecp of news of particular In terest to r.ngllshmen On Sundnv th Krench paperj printed the same informa tion v lth gip.itpr detail. It was not . private message, but a communication If supd to the w hole Trench press by th Trench War Ofiice "Now, this piece of nevva the censor over herp forbids the Ungllah press to publish, although, as we have said, It con. cerns the English pcoplp more than any other people i1 '! $100,000,000 NEW YORK CITY 6 REVENUE BONDS AND CORPORATE STOCK NOTES Maturing as follows: $57,000,0. J 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 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 exc pt for State purposes Interest at six per cent, per annum, payable semi-annually on March 1st and September 1st Principal ami interest payable in yold coin of the United Stales o America of the present standard of wight and fineness at the affice of the Comptroller of the City of i'civ York Gwpmi form in denominations of $500, $J,Q0O. $SM) and $10,000 Registered form in denominations of $500 and multiple thereof as desired Coupon and registered forms interchangeable. I-HEIGHTS AND CHARTERS ?;?ilVt7,:n'7rLtt.in,.'e'6P,lraa..,e" $, litmli ( eminent liaj iluJ contract for jix vfU to urrj oata v .vrKAMfcllll's. icVfV? '.'P 'MH-lmore to llergen, grain. ISikii quurlera atout 4 r romnt llolllntui tiirl. Ildliimurv to llonieaux or ironiw """ J,MW uattcr- -' 3. ..i(i!?,:t,"y nr IWilmure ' IWrdeaux. oat, i'1 1" iU4rt '.' j.. promot " ' MotwMiuil fllr) imuiuort to jlckel noru I nltuJ Mnuiloni ones M tX quarter 1 u optluo rit-mli-itumlc purti. : jt. ) i,rorni't' Malund tllr ) name ' '' ' V'ttuura J luirrlnaa (Ur ) .lOtHJij imartir l.llv ellr) llaltimorc or .Nuiport Ne to . ".. .. iuiw, uii. o umj iiuarters .' i'e.il ircmiu ' ' ' Ki .iirtioit, iluu uuir tu i hrUtlanla. l'l vut iuarter 4s II inonipt I'raulgnLors Uari i t'lilludeliihU to I'onen liukui iHtrolvuin uuxi burrl, irlvattt terms r ruiuit ItiifcB Ngr) r.1)7 tmu. Ilaltlmoro to Itlicr i'l.te taal nrlat terina uramot 4s)ininrtaa (Nor ), SSOS toot Phllaaclphla to eVJIi toul nrhate ttrinn. irumpt ilariiaiuc Ulr ) -till tons, Norfolk to Mdl tcrrai.an coml rrnate turna. prompt. ikro (Ital) aiON tons. Virginia to ncM Taet Ital e al i-rjiottj teima, irvm?' ire are advised that these bonds and notes are available for the folhwitit purpuses: 1. As part collateral for circulation, under the Jldrich-Freeland Jet of May 30, JQQ8. 2. As security under the Workmen's Compenuition Laie of AVu- York Stale. 3. As an investment for Savings Banh and Trustees in Xeu York Slate and eUeiJiere. A syndicate of banks and trust companies of New York City has purchased these bonds from the City at par an I accrued mlerest, A large pari of the bonds hating been withdrawn from sale by the subscribing " -"i'-i " u"c - wmamuer, on ineir behM, m public subscription at the cost prica Suction boots , te .Wrf ut U o'clock noon, Teda. ,,, Xnd. ION. or milt,, , rfMrrQ t ak.i the tiaht is leserved tn reini nn nnrl nil hhli.n... ...t ..t. ... - . MM ". Mladd ' ' "" """' W,,M """' '" "" fBr "rtf mtUr amumnhan afifiUed for. d pplieatiQiis for bondi should be aecqtnpanied bv a remittance in W YaA hi. t ts. e . , ,- The Glance will be p((ioble at the tfim oftheundmlnTiZdlv smJZm i ? fW ? $im 6 W be allotted, the balance ed the defij uUI LZmSSS fllJ to of , mmd for --.. --.,- jj aumatit rminuuy tl (W gtS. iKB gtl 9 mm JL'ef iiL . P. MORGAN P CQS Neu York, September 17th, 1914. m KUHN, LOEM 6f CO 4 4" liJM 1.1 15! IW 'f: Wifi it i i rfz.4 tmH wfp 1 ;v ML, ta.