9gFtyml9!Wmm "" 'vmmmpinm-yif?
EVENING- LEDGEB-PHILADELPH1A, FKIDAY, 8EPTEM.BEli 18, .1(314.
yiNANCIAL AND COMMERCIAL SITUATION AT HOME AND ABROAD-MARKET REPORTS
MARKET DROPS TO
Rates Again Collapse, but
Late Recovery Develops.
Decline Imparts Greater
Strength to the Financial
Another collapse In foreign exchange
, m the feature of today's trading.
?lte . louc ed the lowest level reached
TdZot begin Us general war and
in .-.lilt was to Impart to tho ninrtset
iltreng r feeling of confidence than 1...
tl apparent for many weetts.
rLrly In the trading tho market be
- irratlc and rates broko ns low as
S to 3 for demand sterling and 4.S3
linv for cable. Thoro Was a later re-
Xfto SSI'S m ?.? w a
buying from many investors ... n.v "
sucssful financing of Now York Cltr's
foreign debt and freer offerings of cot-
Ion and 8rnln bllls "nucncca' ln larB
?Jurc, the drop In exchange rates.
There Is reason to believe that within
Vi next ICW uay me Aaiewa.B ...-...--
STn ...umo rlr.ynormal proportions
London licvrs is muio u,i.uio ..- .
Improvement there has beon one of the
most notable features of tho whole flnaii
Hil situation. Thero Btlll continues tall
of reopening tho Stock Exchange there,
ind confcrenceB aro dally under way be
tween Kngllsh Lankers and brokers and
the Government representatives looking to
tome early action along this lino In viow
of recent French and English successes
on tn jimui".in jcv., v.. ..... .-......
treasury bllls are being offered In Ixmdon
on a 5 per cent, basis, and aro reported
to have been taltcn freely at this figure.
LONDON SITUATION1 IMPROVES.
nother evidence of tho Improvement
.broad Is shown In tho weekly return
of tho Bank of England, which has Just
Iten Issued, and which gives the propor
tion of reserve to liability at 21.18 per
ctnt. This represents a gain of 6 per
tent., as compared with tho reserve as It
itood at the outbreak of the war, and
tn Increase of about 1W per cent, over
list week. The Institution has added
(SOK002 to Its reserve during tho week,
tiid 15,060,000 to Its bullion holdings, whllo
there has been a big contraction In
loins, other securities showing a decrease
of jlS.fwO.OOO. Thero Is a net falling off In
deposits of $7,000,000. A decrease In cir
culation Is noted of $2,993,000. This finds
explanation In tho contraction In trade
end restricted expenditures ln different
There was a good attendance of
brokers In tho London financial district
today, but trading In securities was not
Irlsk. Gilt-edged Investment Issues were
lifeless, as brokers are not willing it)
take risk of advising clients because of
fixed prices. Australian mining Issues
hardened on the announcement that the
Sydney ami Adelade Stock Exchanges
wild be reopened on Monday and that
the exchange at Melbourno would resume
An Issue of 2.000,005 sterling Sao
Paolo, Brazil, notes matured today.
Metropolitan Water Board bills to tho
amount of .1:1,000,000 were paid for.
Call loans were plentiful at Vk per cent.
Three months' bllls were 3 per cent. An
Issue of 20,000 Indian Government bllls
fclll be offered next "Wednesday.
Thanks to an Improvement In tho Eu
ropean war situation, duo largely to the
reported victories of tho allies, each day
witnesses an casing up of conditions In
the financial markets, with buyers show
htr a more noticeable desire to get Into
the trading. Thero Is a broader dis
position to buy stocks. This Is apparent
In the Increasing number of daily sales
In the market here and In New York.
Securities that last week could And no
takers because of an indifferent demand,
are now being bid higher. Quotations
maintain a stability which Is surprising to
Investment brokers, and the situation, on
ire whole. Is considered In general good
meeting wa3 held in Washington
loday between bankers and a bpeelal
tommlttce, appointed by the Federal Re
rve Board, to report on the advisability
of furnilnc a ?150,00i).oc gold pool to re
lieve the foreign exchange situation. The
general belief prevails that only a small
mount of this sum will be actually
needed, but tho fact that It is proposed
to make such a large sum available is
"pected to aid materially in the further
Muitlon of foreign exchango rates.
BIG LOAN OVERSUBSCRIBED.
An announcement from Nnw Ynrk this
afternoon said that thero has been a very
leneral demand for the unallotted portion
" tho tlOO.WO.OOO Now York city 0 per
tent, corporate stock and two and three
!ear revenue bonds, and that the loan
ouIcl undoubtedly be oversubscribed.
corporation and individual investors
re taking oxtensivo account;) nf the
"" Issue. No figures were given out
y the syndicate managers as to tho
mount or applications, but it was made
"own that subscriptions were coming in
japidly from alt parts of tho country
M also from abroad. One New York
torporatlcn suoscrlbed for $3,000,000, and
"other for UOOO.OOO. At the same timo
a sreat man letters and telegrams were
ceived at the ofticea of J. V. Morgan
"to., and Kuhn. I.oeh & Co., whom
wscrlptlons were taken, bidding for
"os in amounts ranging all the way
p ? up t0 mnny thousands.
, ".n( houses tudaji reported that moro
inquiries, which became manifest yestcr
m...w'w continuing today, and In some
anmn.actu.8l. sa,es we"e I"all, Small
St'f Heading general mortgage 4a
ffi f?r 92'--- off 'a fm the July 30 clos
iandi ifL'V, c sturu8 Battery changed
KoriL?1 a"d fractional offerings of
Ptn!u ,entral soM at rror" S3 to S3
due tVii ',a. ''"'"Pany convertible 3'is,
i 191J, sold at 07.
The follnuin- i,i.i ... , ..
Ported- i ... u,m ortora were re-IIv!n'-
aS":M,,e 1,U1 and Schuylkill
om piiskc,H,eI"!1l"il 52; liar
t to m1iS 101; Phl'auelPhla Elec
nl PniuL t'noreland Coal stock, 60,
Adfi . 1)hia Taction. Wi.
Wa housJ ll" N.ew York to PMIatlel.
mSdff ?J the effect tnat H m
've the ZJT Wesehouse slightly
"tucks ?r"",K ?f Juy M- Standard
Stations tL " dman,l at advancing
8e, sntee.rahte,S.;0a53r,;.rad,,,ff ,n Un,ua
No GERMAN MORATORIUM
'''ti'ifinor!!1.0 announeemcnt that there
,lra o? it L nv0r""n '" aern'a"y t this
nt Ami or r- prcvlu tlmo. a proml
" lacks erma!1 ba"lers sajs tho
!" adds thV. rnyr6,ub,s,tance ot Uci- Ttl
bn clrcuai!dphrvol'3bl"''s report has
?lli the luuiJi pepI I10t I" ""eh
hrlw'. whirif ' """taking a mora-
"nton 0 ";, """-"a a. general sus
PREDICTS BIG FRENCH
DEMAND FOR U. S. GOODS
Foreign Trade Expert Says Bequests
Will Be "Simply Enormous."
Restoration of pcaco In Eutopo will be
followed by a big demand for American
manufactures, especially machinery, ac
cording to an opinion expressed in a
cablegram received hero today from
Franklin Johnston, publisher of tho
American Exporter. Tho message, which
was dated Paris, September H, appar
ently was delayed In transmission. It
read ns follows!
"Business conditions hero aro remark
ably good, considering nil the circum
stances, nnd are Improving day by day.
Thero ha been nn especially marked Im
provement this week. All shlpptng routes
from Prance are open. Considerable
manufacturing Is still going on and ex
ports of tho specialties and luxuries which
are typically French continue good.
"The futuro demand In Franco for
American machinery and manufactured
gooda of all sorts will bo simply
July, crnai $lflI,Btl S37.BS.1
Corporation Income 10.1.40J JS.OSJ
COLORADO AND SOtlTIICrtN.
fiecona week Sept.. $272,8ft1 W3,319
From July 1 3,773,S55 W07.103
CIIBSAPCAKU AND OHIO.
Second week Sept 58O7.0SI t(2,7M
From July 1 S.213,101 010,701
TKXAS AND PACIFIC.
Reeond week Kept $.103,713 $40,315
rrorn July 1 H.Mo.ios 03,370
Second week Sept. . . $1,133,000 IH87.000
From July 1 12,880,101 200,028
ST. LOUIS SOUTinVKSTMlN.
Second week September.. $202,000 JM.OOO
From July 1 S,SS1,0on 388.000
CHICAGO, lNDIAMAt'OMS AND I.OUIB-
Second -cck September.. $t4'!,0rt0 $11,10'
From July 1 1,517,014 14,713
GRAND TRUNK SYSTRM.
Second week Septcmbor. ,t,m.M2 $17,014
I'toni July 1 M,7fi2,S12 077,(110
P. R. R. WILL HOT
Other Railroads Forced to
Such Action Because of
War, but Pennsy Has
Year's Supply of Oil.
FUBLIC UTILITY EARNINGS
PACIFIC FOWISR & LIGHT CO.
August 1UI4. Incrcane.
Grons narnlngs ?123,4r 310,014
Net earnliiBB C2.2S1) -1,383
Gros earnlntta ?l,.'14'!,2'.i', 7.t.f0T
Net earning Cn7,."cr. 07.C11
KANSAS OA3 & ELHCTRIC CO. Iteporta
GroM earnings X70.700 11,401
Net earnings 27,085 770
Gross earnings .$1,110,000 .$112,008
Net earnings 403,025 53,051
Taylor-Wliarton Iron nnd Steel, regular
seml-unnual 4 per cent, on common, payable.
October 1. Rooks close September 21, re
open October 1.
Southern Utilities Company, regular Quar
terly li per cent, on preferred, payable
American Public Service, regular quarterly
19i per cent, on preferred, payable October 1
to stock of record September 23.
Gencr.il Chemical of California, regular
quarterly 1 per cent, on first preferred,
paaoi wtoDcr i, to siock oi record Sep
Styles nnd Cash, a quarterly of 3 per cent.,
payable October 1.
Washington Water Poner. a quarterly 91.75,
payable October 1, to stock of record Sep
tember 12. Tlireo months aso ,52 a sharo was
Hawaiian Plantations, monthly ai follows:
Hawaiian Sugar, 30 cents ami SO cents extra;
Hutchinson, 13 cents, and Paauhau, 15 cents.
New England Power, a qnartorly of m
per cent, on preferred, payable October 1 to
stock of record September 23.
Vncuuni Oil, regular semiannual ft per cent.,
paablo October 31. to stock of record Octo
Houghton County Traction, regular semian
nual ?.l on preferred, payatilo October 1 to
stock of record September 10.
Massachusetts Lighting, a dividend of $1.75
on common, $1.50 on new preferred and 25
cents on new common, payable October 15 to
Steele of record Septcmbor 25.
Cincinnati Hamilton Traction, regular quar
ttrly 1 per cent, on common and l'i por cent.
on preferred, payable October 1.
MaeAndrews and Forben. regular quarterly
li ner cent, on preferred and regular
quarterly 2 V4 per cent, on common, both pay
able October 13 to stock of record September
Despito Jhe fact that Importations of
creosote oil, used by the railroads In creo
sollng ties, have been almost entirely cut
off by tho European war, causing tho
ptants of several railroads In tho Mlddlo
West to close down, the Pennsylvania
Railroad announced today that the com
pany has enough of this kind of oil to
treat nil tho tics It needs.
A week beforo tho war began, the
Pennsylvania Railroad received a ship
load of tho oil from Germany, from
which country tho best brand Is obtained.
This waa divided between tho company's
two crcosotlng plants, ono at Greenwich
Point and the other at Mount Union,
Pa. When this supply of oil Is exhausted
the company will uso the domestic
product. Tho company has a large supply
of tics on hand a.t both plants, -which
Is now ready for treatment.
It waa announced today that thej crco
sotlng plant of the Missouri, Kansas and
Texas Railroad, at West Donlson, Tex.,
had beon closed becauso tho company's
principal sources of supply of oil, Ger
many nnd England, had been cut off.
Annual Inspection of tho trnck of the
Pennsylvania Railroad from Pittsburgh
to New York will bo conducted on next
Tuesday- and Wednesday. General Man
ager 9. C. Long and a party of 230 of
ficials ot tho operating department will
start from Pittsburgh on a special train.
Pennsylvania Railroad, in carrying out
tho company's general retrenchment pol
icy, will dlscontlnuo tho following small
passengers stations on the Pittsburgh di
vision after October 3: Weaver's Old
Stand, Brlnkcrton, Shoup, United, Trau
ger, Udell, Hccla, Mutual, Calumet, Rum
baugh. Mammoth, Pleasant Unity Cross
ing, Marguerite, Leigh, Pcnnsvlllo, Cham
bers and Blddlc.
Northern Pacific Railroad during tho
company's last fiscal year sold SOO.OOO
acres of land, according to Thomas
Cooper, land commissioner and assistant
to the president of the company. Tho
land was principally ln Washington and
A temporary Injunction has been grant
ed In St. Louis preventing five vice presi
dents of rallwaymen's unions from call
ing a strike on tho St. Louis Southwest
ern. The five conductors said that a ma
jority of tho engineers of tho road had
voted against a strike. On next Tuesday
tho defendants must show cause why the
Injunction should not be inado perma
nent. The trouble Is the result of the
management's refusal to reinstate a con
ductor who waa accused of drunkenness.
With a view of promoting more Inti
mate commercial relations between tho
United States and South American coun
tries, the New York Central Railroad, In
conjunction with tho American Express
Company, will send two agents to the
principal cities of South America.
f 'llllllllllllllllft ' I
GRAIN SHOWS MORE
GAIN IN VOLUME
NEW YORK, Sept. 18. The market to
day broko again, with denund sterling
l.Oagi.Wi; cables, 4,D.ia;$i4,9l; marks, Kc,
and French cables, U0tf5.11.
PORT OF PHILADELPHIA
Sun nnd Tides
. 5.41 a.m.lBun nets.
High water.lU:P a.m.mish water. ,12:2ii p.m.
Low water.. 7.22 a.in. Low water... 7:3T p.m.
High water.. 0:lha.m.Wlls1i water.. 9:ttp.m.
Low water.. 3:40a. ni.IJ.uw water... 3.-55 p.m.
High wnter. 6:4i)a.in.illigh water.. 7.02 p.m.
Low water. .12:30 a.m.! Luw water... 12:3u p.m.
Vessels Arriving Today
str. l'ranlenborg (Dan.). Schmidt. Delaware
Ilreaknatcr, load oil In barrels at Point llreejc.
faprlW Hr), from .Shields, U Sandy Hook,
to load toal. ,.,...
I'und.i illr.l. from New ork, load Thomp
son's Paint. .....
Ilk. Pramner CNor.l. lluenos Avres. bones,
anchored off Mareus Hook for fumigation.
ll.ittleshlps Missouri and IHlnoLi. trom -An-
Mr. Alglfis. New York. nien-handUc. l lyda
Mr'. Etrom (Dan.), anchored at llrcakwater,
ordered to llaltlnuire.
iur.n Doling lllr.). for Ilaltlmore.
(lrie'aiw (Br.), for Ilaltlmore,
Venlmoor lHr., for Falmouth, for oiders.
Ve,lr.i t!r.). fur llanos.
Auchencras CPr.). Havana.
Pawnee, tcr N'w urk.
George W. I'ljde.
Steamships to Arrive
f 'arthaBlnlan Glasgow
.,, Glasgow Sept. in
Gfnoa .fept, 5
Liverpool fipt. Ill
. ...lxnJon .. .
?nc T"' Paments aeainst credit
SfW. for" ' ijwnt. against
;m o.., . a CI tno C.ernian
blcl .ked ,hCll ,su'd August V).
rWlhdlM"M? COUr" l daa'
? Wa tons in'"8 of "turln long-
"4" ? rec,ly to roced to effects
"Hfti'J? ' the same rir, i,.
iSS'Wt.;."?. 9e'"y by orelga
lty - -4 inree moath at
Steamships to Leave
Stapipu- . .
. .Sept, 3
. .hert. 12
. .Kept. Si)
. ..uct. u
TMnlafirir7 . . .
Man. Bchn WanUiester
Aiico'-a (Hall, conslgllerle. Genoa, U New
Yora, paksengers and merchandise.
PORT OF iNEW YORK
Among tho new Philadelphia members
of the Investment Bankers' Association
of Ameilca an Cassatt & Co., Brown
Bros. & Co., and William P. Bonbrlght &
Co. George W. Kendrlck. 3d, a member
of the Arm of E. W. Clark & Co., and
William West, of tho firm of Henry &
west, are momoers or tho Bontd of
Governors of tho association. Tho next
annual convention of the organization
will be held in this city In November.
Tollx M. AVarbtirg, a brother of Paul
M. Warburg, member of the Federal Re
serve Board, has been elected a director
of the Baltimore and Ohio Railroad, suc
ceeding his brother.
The Legislature at Kingston. Jamaica,
has Increased ad valorem duties from 10
to 16 2-3 pr cent. It also voted $230 000
to tho war fund contribution of the Em
pire. Resolutions have been adopted by tho
National Association of Credit Men, In
which a strong appeal is made for tho
restoration of peace among the belligerent
nations of Europe at an early moment.
The resolution also warmly commends
the policy of absolute neutrality adopted
and purJued by President Wilson.
Banks lost to tho Subtreasury yester
day $153,000; blneo Friday, 52.453,000.
Elmlra Water, Light & R. R. Co. has
sold fiSI.COO 5 year 6 por cent, collateral
trust Cs notes, secured by deposit of $253,
000 consolidated 5 per cent, bonds of 11)50
and ulio has ismied under mithuruatlou
of the Public Scrvliv fommlsMun ?1-5,V00
7 per cent, riimtilatirc first preferred
V. Uarklk- Henry, foimoily of I tuny &
AVeot, has irturnrd from Newport, 11. I.,
whci-o he spent tho greater part of the
WILLIAM S. EVANS
Candidate of the Philadelphia Chap
ter of the American Institute of Bank
ing for the presidency of the institute,
the annual convention of wh ch will
be held in Dallas, Texas, on Septem
ber 22, 23 and 24.
20 LOCAL DELEGATES LEAVE
FOR CONVENTION AT DALLAS
William S. Evans is Indorsed for
President of Banking: Institute.
Twenty members of the Philadelphia
Chapter, American Institute of Uanklng
will lcavo Philadelphia thia evening on
the 6:52 o'clock train over tho Pennsyl
vania Railroad for Dallas, Texas, to at
tend tho annual convention of tho Amer
ican Institute of Banking, which will he
held In that city on September 22, 23 and
21. They represent the local chapter as
delegates. Among them will bi William
S. Evans, of Henry & West, bankers and
stock brokers, who has been unanimously
Indorsed by tho Philadelphia Chapter no
Its candidate for tho presidency of the
association. As yet no opposition has de
veloped against Mr. Evans.
The party from this city will Join the
delegates several other Eastern cities
in wasnmgton. A special train will be
taken over tho Southern Railway to
Dallas, where the party will arrlvo on
Monday, establishing head(iuat tcrs at
the Adolphos Hotel. About M delegates
from all parts of thp United States' will
attend tho convention. Thn sessions will
bo dovoted to economic discussions of
banking, and tho election of oltlccrs will
be held on the 21th. On tho way to Dallas
tho party will nonU a day in New Or
leans. There will be a debate on tlif proposi
tion of Oovui-timcnt-owiii'd tWepliono
lines, in wh,-i, Philadelphia will havo
the negative side. William A. Allen, .Jr.,
and l'aul Detwllor. or tho Philadelphia
rational Bank, and It. IT. Froy, or the
Pennsylvania Company for Insurances on
Lives and Granting An mil tie, will rep
resent tho local chapter, whllo Chicago
will have the afllnnative side.
The delegates rrom tills city are: -I. I!
Borden, V. H. Chaffee, A. II. I 'onto, P. R
DotwIIer, W. S. Evans, A. C. I-Vlis, c. W
Fennlnger, P. U. Froy, IT. ,T. Haas, X. t!
Hayes, Harry Kollock, E. .1. Morrli, D. J.
.ujers, w. .. aiuKcnl. T. W. Scatterguod,
W. H. Stroud. J. O. Wallace, O. S. White,
William W. Allen, Jr., and. F. (.'. Eves.
ASK MOTOR RECEIVERSHIP
Lozier Company Creditors File Bank
ruptcy Petition in U. S. Court.
DETROIT, Sept. IS. Tlireo creditors, of
the Eozler Motor Company hao llled
a petition In tho United stateH circuit
Court, asking that tho company be de
clared bankrupt. It Is undei stood that
io liabilities aggregate $2,'Q0.O). The
Plant has been closed for sonn time pend
ing effotts at reorganization.
Increase of 2,150,000 Bush
els Reported From Indian
apolis Alone Both Corn
and Oats Are Firmer.
CHICAGO, Sept. Ig, Wheat opened
quiet but stronger today, with Decem
ber up B at l.l(y, and May up 1 cent at
$1.17?i. The receipts In the Northwest
wcro smaller today. Sentiment In the
market appeared to bo more two-sided.
Tho very heavy tecolpts of both winter
nnd spring wheat thus far this week and
accumulating stock, Including an Increaso
of 2,150,000 bushels at Minneapolis alone,
havo caused Increased hedge selling.
At Liverpool the decline In the Amer
ican markets yesterday nnd an easier
tendency at Paris tempered the firmness
prevalent thero on Thursday, and open
ing values wcro unchanged to M1. lower.
Tho demand at Uverpool Is becoming
more pronounced from outside sources,
and countries other than North America
aro offering practically nothing.
Shipments from Argentina for this week
wcro 21,000 bushels, against 101,000 bushels
a year ago. Tho visible supply there
h -120,000 bushels, against 660,000 a year
ago. The stock In New South Wales and
Victoria is 3,464,000 bushels, against
4,732,000 bushels last year, and in South
Australia 656.000 bushels, against 1.408,000
bushels last year.
The receipts of wheat at Minneapolis
and Duluth today wcro 1009 cars, against
1075 cars u ear ago: at Chicago, 353 cars,
against 70 cars a year ago; at Winnipeg,
1164 cars, against 1HS cars n year ago.
Corn opened Armor, but trade was only
moderate. December was up j, at 71, at
the outset, and May up U, at 7S'3, but
lost tho advance on selling. Shipments
from Argentine for the week were smaller
than had been expected, amounting to
2,202,000 bushels, against 4,S31,000 bushels
a year ngo. Of the week's shipments,
l,76ii,UiM bushels went to tho Continent,
against .1,G13,0iO bushels a year ago. Pi Ices
ut Liverpool were up Id. The weather in
Argentina is Jiifavorable for conditioning
Tho vlflble aupplj in that country is
S,100,OCO bushels, ngalnt n,75,000 bushels a
year ago. The receipts of corn hero to
day were Gb cars.
Outs was firmer. Trade wns less active,
but well distributed.
Six steamship havo ben ehartercd to
take 1,.V).(V) bushels of oats from Ealtl
morn to Front e. December opened up t;,
at JO'j. .ind Mn up !,, m 32;. Heceiptt,
of oats hcio today wore lis cars.
Leading futures ranged as follows.
."!,. .IIU . -. ."-,,-"'".
wi'Vll. IIISU. I.OTV. I. lose.
' September ,
Ootoner . . .
' Molter .
i.i fWi i ia
l.O'ii. -M.1H i.j,
i.i 0; ti.is--4 n.ii.i,
IGNORED BY DIRECTORS
Transit Officials Table Petition Not
to Ilecognize Transportation Problem.
The protests presented by n majority
of tho stockholders to President Jeremiah
.1. Sullivan, of the Union Traction Com
pany, against tho company recognizing In
any way the rapid tranelt program, were
not taken up by tho Incoming Hoard of
Directors of that corporation when It met
to organize at noon today.
A majority ot tho former directors, all
of whom wero te-electcd at the stock
holders' meeting last Wednesday, at
tended the meeting today. Jeremiah .1.
Sullivan was re-elected president, Charles
E. Heed, vice chairman of the board, nnd
W. .T. Shields, secretary and treasurer.
The meeting then adjourned.
James Ony, a member of the board,
when asked what action had been taken
In regard to tho protests, said: "That
matter Is settled, nnd will not conic up."
No official action will he taken, lie s.ild,
adding that the filing of the protests de
fined tho attitude of the company,
"This attitude has been well understood
by the directors for a long time," he said,
"it was settled long ago that no aetlon
would bo taken In regard to th transit
Tho protests will be pigeonholed in the
safe of the Union Traction Company In
definitely, said Mr. Gay.
WAR'S DEMANDS CAUSE
BUSINESS TO IMPROVE
Local Men Optimistic Exchange of
Professors With South America
Thero Is every indication of an Im
provement In business generally, espe
cially In manufacturing lines, nnd It is
duo largely to the present strugglo in
Europe. Tho waste caused by the big
conflict and the scarcity of worklngmen
havo already started American wheels
The Welsbjch Cotnpanv, whoe plant
13 located In Gloucester, N. J., announced
today that it had employed moie than
500 additional hands to keep pace with
the big domestic trade resulting from
tho war. A representative of the com
pany said for tho first time In tho his
tory of the company orders were received
from all parts of the world.
Both Europe and South A mot leu are
making big demands for clothing E!:J,
as a result, many textile mills which
have been tunning a llttto more than
half tlmo are now running full handed.
The local manufacturers arc receiving
requests dally from Europe to do their
bett to meet tho demand.
Every effort aleo Is being made to open
a steady market with South America.
As representatives of several South
American llrms are now making In
fjulrles In this city tho business men
Ab a means of Improving South Amer
ican trade relations. Dr. Itoswell C. Mc
Crca, dean of the Wharton School of
tho University of Pennsylvania, has sug
gested an exchange of professois between
South American institutions nnd the Unl
vcrsit. Ho points out that Yale lias
successfully exchansed wlt.i German uni
versities and contends that a similar
pla.i with South America would be
equally as successful.
GOVERNORS PLAN TO
SAVE COTTON CROPS
WITH STATE BONDS
Will Propose Issue of $250,
000,000 to Buy 5,000,000
Bales at Ten Cents a
Pound Suggest Acreage
Cotton men In this city aio Inteiestei in
a conference which will bo held in Wash
ington oil Monday next by the Gov, -nors
of nine cotton States, when n plan
will be discussed to save the cotton crop
from low pi Ice destruction. The plan
involves tho Issue of (250,000,000 In :i per
cent bods by the Stntes involved The
proceeds will 1" used to buy and stoi
o,MW,000 bales of cotton nt ten rent'
The plan, which was, advanced by W
C. P. Harding. Birmingham, Ala., a mem
ber of the federal Reserve Board, will, if
It Is agreed to by the conference of
Governors, require legislation by th
States Involved. Included In these States
aro North Corollnj, South Catollna.
Georgia. Florida, Alabama, Mississippi,
Louisiana. Texas and Atkansas. The con
fcioNce. It is understood, will nrrlvo at
some definite basis of division between the
various Staff 3. fixing the amount of bonds
each hhould Issue and the nmount of
cuttoit each should putcha.se.
A plan will also be brought up to cut
next year's cotton acreage 50 per cent.
This scheme will be advised by the special
committee of Senator and Representa
tives from tho cotton growing States after
consulting a number of decisions of th
Supremo Court. This committee will re
port to the full conference that tho Fed
eral GoverniiRiit has the power to curtail
the production of cotton by placing -prohibitive
tux upon it. The committee.
consists of Senators Clark, of Arkanaas;
Williams, of .Mississippi, and White of
Alabama, und Representative!) Hardwick,
of Georgia, and Burgess of Texas.
Alternative proposals for a prohibitive
tax on the production of cotton In 1013
will also be placed before all the Senators
and Representatives from the cotton
DEMOCRATIC TARIFF CAUSES
RESTRICTION OF PLANTS
ROCK ISLAND BOND DEPOSIT
BANKS GAIN IN CASH
XEW YORK, Sept. K-Kiiuvv u move
ments of money for the week ended w Itli
tho closo of business uu Thursdnv indi
cates a f?aln In cash by the lucni' bnnUx
of $3,346.CO. They gnlued by illieet ex
press from the hucilnr $s.7f:i,6i 0, i,ut lost
to tho subtreasury J 5. IW.irt). This hs
Includes tho gold token from tin- institu
tion for shipment to t'un.ul.i. The loss
on subtreasury account alone was fz,.
. .. "11.40
.20.1,-, i'0()7 20.12 'SO.flT
'1 4 ".
1 1 .S3
NO HOCKING DIVIDEND ACTION
Directors of the Hocking Valley Rail
way have taken no action on the regular
(luaiterly dividend of 2 per cent. Xor
nmllj, this dividend would have heen de
elared several ue,.i,6 ago. Chairman
Irumb.ill said after the meeting of the
directors In New York that he had no
statement tu make.
About SI 8,000,000 Have Come
Under February Agreement.
XEW YORK. Sept. IS. -A circular has
been sent to holders of Chicago, Rock
Island and 1'nclfle collateral trust bonds
of 2002 stating that there havo been de
posited or agreed to be deposited under
the agreement of February 2S, 1914, sub
stantially tlS.OiO.uuO of bonds and that ap
proximately J7,000,0" bonds have been de
posited in Holland with a committee
rormeii there, and with widen tne Home
committee is in communication.
The trustee has declared the principal
of the bonds to bo duo and lias brought
an action which Is now ponding to fore
close the trust agreem.-nt and for the
' sale of the pledged stock. It Is btated
I that It Is possible to carry through a plan
I making adequate provision i;,r the future
financial needs of the railway company.
A commltteo Is now engaged In the
preparation of such a plan which will
provide tor the purehasu of the pledged
j stoi-k nt foreclosure sal- but which will
I not deal with the financial requirements
of the railway companv.
Ilmik i-lMrlnga fiilnj ,-onipare ltl
ipundini; day ut two vear.
PMIaJelphla. SL".fwii.-.!.1l Sfl.WLHS J.'fuiifo'iii
,;. "'."I. -Wi S.t..1!ll.-(SS lS,!IU3rt
Ik 5175.7CS.101 go.a.27l X.IU.I 70a 207
TIlO mrkft OlllPt nntl iinrli.ny.il.
v : Western bf. in .m.,1 iujUl'p : . tr . !'iniaiir.tJL .,-... V . Pr tl- i'T. x.
i.l li. I T ..'. k llirl.l-, . t - .-.
WHEAT CONDITIONS IDEAL
MINING STOCK MARKET
Trading Here Firmer With Offerings
Not Equal to Demand,
The market for mining stocko in tills
city la displaying unusual ilrmnees and
mure stocks are wanted than are being
ofleied. Tht-sa quotations ara ruling:
Jim llmler i?tu ;o
Jlliiway Ift 12
llljpah IDS 21
Montana to-fi 4.-
Tonoudli Kxtenslon 2 11. tow s.
IS ft M
c'ty l'tf, kiiurkles arm tciulers, diiiiiUo.i and
on-.ifiiu, ...o.H.- : vvtvnern eer. Uiiurniva ami
tenders, smoked. SSfiilK ; tepf Iiaiii, 40t!4.i,
llann-, S. I. hji..,i, lwso, !V.'Ul"'i -. ! -aklnneil.
loose, l.-.i.fi Kle. ; ile . ainnkeri. ISM
i.io.: otnier luni. smoUed, mj .mil as In
hrond and cured. IS&lfl.-. ; de . I...lle.l, l.one
es 2&ra2Ho. ; plc-nlo stioulderc 1'. eure.1.
loojic, lift t2 i.e. ; do., siouliel. I tu 1 1 V :
oelIIs. In pkkle. areordhis tu nver.uo. Ihokb,
lOsjitfic. ; lirraktast baeon. as tn l.ruiid and
hv erase. tlty cured, 22621' l.r.'asM.iit
Iiucoii. Weblcrn cured. 22(2I : t.ir.l. Wei'orn
n?flnd, ileiees. 1 n, if 1 1 nlC. . ,1,,, ,)o, do.,
tub, 1 1 1 j ft 1 1 1, ; arj purr iii, kelllti
ri-nilrfd. in tlen-ea, 1 1 3 fti 1 L', . lanj, i.uro
city, kettle remlcml in tubs, lli&U'i'.
I'!".'2-50'""' otl!"' foo,i MinS varieties.
,-..,00..; medium. II .vi2.BO .inni. r,,..
. t-. . ' v. .?:
ri.?i : t'S-.'.'ft 'J '-.. ". 1.o
Ckp. c.kI i-,w.. ,,.'. """'". vrjnosrriea,
,3S"L'iC,ff; IVM. .,rk.
. , j , ism- i-riirB , . i. ', if I i i . ..."
Rn.t Marvlnn.i ,.:,: i.,,,1." '.;."" ' '"-fe
per -iHie, 7.V.i?iSi"-,i.Iu',;1J';; .''' .
.. ..-. - "' j'liuu. iiiiii ii
Good Progress in West in Seeding of
The Moaern Jiiller as the weel, 1m-,
beon Ideal for seeding of winter wheat,
and rapid progress is made throuuhout
tho bolt. The soil is In sood condition.
I'nrmers in Kansas allow a pronounced
tendency to hold win at, nnd the move
ment will insuie oven marketing of sup
piles. In the Northeast a heavy move
ment of wheat from Uakotas was stimu
lated by a good demand in Minueupotl
and Duluth. Thero Is a shnrp recension
In the movement of the bent grndos ot
wheat from Noith Iukuta and farmers
show a tendency to hold on t'j their supplier.
Manufacturers Say Shortage of Water
in Canal Has Little Effect.
Clark Rollins, superintendent of tj
Joseph XI. Adams Company, one of the
largest manufacturer.'! of woolens and
worsted yarns in thi community, at
Main and Dupont streets, said today that,
ci'iitrary to thr seneral opinion that the
iestiict"d operations of the manufactur
ing plants aloriK the Schuylkill, canal
were due to lack of vater in the-S!U&l
he attributed the closing of mills- direct
ly to the reactionary effect of the free
trade activities of the Democratic Con
gress ill Washington "We are now
paying a higher price for raw -wool than
when the high protective wool tariff of
the Republican party was In effect," said
Tho firm of William Spink & Co., nt
River road, Slatiaytink. manufacturers
of shoddies and woo! yarti3. said that
not lack of water In the canal, but un
sound Democratic legislation was the
real cause of their now operating only
I about half the time.
j While there has been a mild shortag
I of water, word was received from manu
facturers along me canal oy v infield
Giles. In charge of lock Xo. 6S today,
that too much water was coming through
the canal, and requesting that it bt
Tho water in the canul was 10 inches
below normal yestercin. Today it i
reported nt normal again. At Klatrock
dam til" water is up to the top ot th
12-Inch strip at the top of the breast of
In u few eases manufar Hirers liava
been put to inconvenience by reason of
shortage of water In the canal. Mosr
of them have either .t"in or electric
power and In many raws have both in
addition to the supplemental watsr
RAILROADS' JULY EARNINGS
i. .., llufkleti-r. r,.r ,jt !
TS Ew$:x- U. S. AFTER PACKERS -
M'OAlt llarltti ijulot ut ouotu rate.
Siundard srunulnisd. 7'lne: fine Krunulutnl,
'"' powdered. 7.1S.V : unl't!"iiMrs' ,,
T.lac; soft jrado-. OI3ViOrK!
fllKKSK.--rirh aetlie and firm, nitji
icipliis well unJn i-onir.,1 New lorU tull
crcani, choice. tit 0. lil'j do., du . fair to
BOod. l."ljiir- do, I'urt skinw, UtlHr.
HITnill, Th market quiet and without
imporiuiH I'h.nisi'. aumiUiw moderate. West
ern frrsli. bolti-pa,'ke.l ,-ieunier. funuy p
ulalu, .'IK-.. e. Li'tlonal lots lilther I'llru. o'.'J
..iC-'.-i-. eiira nrsts. .lie . flrsl. 2ir.n lii'-,i . .3,-, -
oud9, 27 '-j )l '.'.-'i' . hidlo uaokod '.'l'iSle.. ft to
onus. .'T-jd. .!.. . Ui.iio i,.i'ki"l '.'l'(iie.. ft to '''.
quality , neurkv prints, fan .I.V., du,, aver- onieiu.
... Hi,.n . tra.n
iei-o- Piuaw, ,7f'
Tt, Itoiffl'i,, S ",;,:'.l'".L2i',.r:- Per
irmci, pc- no. 5Mjir,
et.ta ni -rn,
tldUct. Inti'.'.'V .'
bucket. iniiai, ."" ""''" "..
Sh - .-, '.. ""
Will Sue Swift & Co. for Aiui-trust
.li:FKER.UN I'lTY. Mo., sopt. i-..
ilstttnl Attorne)-i;euirul Wins ha an
nouncti) t'mt. wmi rfll, .- -iiieiiinj; of tin
Supreme Court, in OiHioer, he wdl tile
quo wan an to proe-eding antj ouster
iiiiit nninsit Swit & Co., ..r ctiieasii ami
Kuti,a i 'In, c.iaigini; v lulution of the
nnu-trut lo o.' ,Mifcu..i
EXPORTS OF WHEAT J.ARGER
NEW YtiRU. S"pt l.-nru.Utrif
gives llie export of wlinet. flour il'elijdeil
as uheut, from the I'nit. d titat. h and
I nee extra. :a:tu do. mts. aero-.: do , eboh e. p.- Wi i- aiv ? Galley,
reconds. 27ti'.".i HU1 faiuy bnirjdi ft (.- , i... i ",', ,1ir ' ,!l""'- medium
.prints Jobbinu at :.lt.ill- U,. JMrH ,f-v ' V v?; ''riU', Per
' IUUi.n -Tiade fairly a.ue and nmrket 3o,', mus'ireon". mV i'ii, , h,r7". bli'5'ii..l-
firm, with sui'i'lli'i well uudei .oiitrol. In "".inii , wr l-!b. b.tsl,tt. ou.-atl.co.
Tree C3s. n.aroj cjihi .11. )(r jji.; in-iiro , 1 ' ij 1 v tx'l"k m otii
ftrsts, .JS.lit per standuid cute ntnrby current lllil. AAW I'LUUu
',Pi!i.!.:i,SI-i!l 1V.f'..r,-1,iJI,,.'J,J'".'.vl?.1,-. ' ..LtL:-l'-?nipt.. 10.44s bush.
-. iwr not . rvn. i st ro . zz"iw ttiittua mi iiit UfAk u . :iik iiin t.nuUci
II. IUMI i...tr.uu' K' V?1 ' V. !0' - ,...,...,...,.. ,,,,1, -.-c.v.. , .... . m"wtM
Pr W.I., No. I. S2.3ilftS i.V in "' ,',",K' "."" iv ji-ni mine juiv i tue ..
ts. J.T1..1- ,-. i. .',..:. -..,-'.".' port iiuv Den .i.isi.uiu ouslials. ucm1i
1. ... . t .r,, tiaitiib-.
STEAS1SI11P3 ARRIVINQ TOrMV.
Name. l-'rom. TIuib
I.uiilanU Uverpool. ..8 Sua. in.
Steamships to Arrive
Steamships to Leave
FinUnd . ...
( aarta .
Ball.- , .. .
rejl -. -
Ze'"d .. ...
r M ttcn . ,
Naple . ..
...... Naples .,
i Uverpool .
. Sept. 10
- Sret 21
. bept. 22
.... S't't 2i
- 8pt l
FUEIOIITS AND CHARTKIIS
I'nder a moderate demand for tonnage the
st.amshlp market tontlnuea straly. Rates are
Indian Transient tilr N- Tor to Go-,
deauit, grain, .. CJ , 'JMtfpO quarter, onilon
rart Bonerul cargu, ,ionipt.
Mar.tlloorg (Pan.), Ilaltiiuore 10 VJercen
cr 1 hrUtlanU, grain. 1S.U0 quarters, u.'
.....- nn , U. , llu limn.. .. ,'. ...
IHrtu.tfc"" ....... .'n.,.'vv.n , i filll-tl .vuail
II- ports, oaU. 0,000 auarters. St. 3.1 , prompt.
HuttonnoO'l iltr ), ilulf 10 Marseilles, train
So.CVi quarter. 3t. til., prompi,
Antsres iNor.l. lto4 tuns, Ualllniora to Ha
vana, coal private leims prompt
Wetard Ho iBr). Sslii tons. New lork to
Australia vlo Panama Canal, general carso
private term.. October.
Kent iRr . 334? tons, umf
Trojan (Dr.), S3I3 tone, same, Oetol)cr-o-viiuber.
Kasalla tBr ). aiBO tons. I'.onib.ty to Phllidel
phla or Dalilmore. ore, prompt.
Ascot (Ur ) STSd tons. Ne York to Medi
terranean, senoral cargo, private terme
prCvmPt p RARKS
Ia- ua (B-.), S0 tone. Ra.ltlmore te Juiara
Cubvcol, private terms.
Ul,w.ui.) for the -.aiim pcriotl of iat yep.
NEW YORK SUTUR AND mm
NIJW VtlRU. Sept, 1$ Ml'TTKIl Je-ceipts-,
4.V package.. I'reanwrjr i-tH4S.
31 to JR..; first. ;j tu SI: he'd .-kii-.iu
en, v.i ,.-.-, T '"' -..T, .. - ...., f, . , o,,v4 uu 1 b'ivan.e'1 ,.- untie, hxili.i. . Vw' w .,-
(IT.W ner mo Jo., s. , . 1- SlMkiyiiMO i.., il.. in ,i.- ... ..'.' "i11" Wllwh apvu'tt- uiIik'ii... .. i,o .... .
I.nK-Cholie stock sold fairly and ruled tfjf' "".. 1"rU." " mto4ti oi BANK CLPATRNRi? "SltiTTum
firm under moderate itfrtng. fuU Us i ffrt"v. k"r lof ' lucal irde7e to ia -Un-iNri gajgAmtj SIAIIBIl
ise.; old routers. 11(11'.; .prlng iUU kens. '"' J- 4 wllow. Slftom ., ,t,n.tr m?- -Vl'-VV ViHllv. rj. pt W. -.'U.,r'iini
fine, large. Uilse.: du.. mwllum Ue. ia , " "'jS.Wt-'- '" ihronsrh il... I.u ,. ..n. . . ..."
1C'.: duck., old. lMjllL'.; do., eprttn;. Wuj ' -.- Receipt,. 02.SSI bushel., jiarb,. !.,I"USr V. ' f ,t0raina lo l'" e-
I5c.; gulneai,. per intlr, ouns vveighlns 2 IbT Pf "' hlgne- onh goadXiign iH," vl"' ""' k a'uourtfd v ,.&;,-
and over npleee. 70.. : Jo.. ell,lnf 1 II, V "' "fie demand lls0 Xef s Sbli 2,-""' ag.tln-i ll.v'l iS6 l Ut vfu- and
lt!;'.e,aPl:lufe5LW- tf-; "'SeU"' "'"'''l&W'1 "U"- '' ' ' 'l-'C'I'lOin )Vt "'-eJ "
Both Gross and Net Show Marked De
cline Compared With 1013.
Aicord'us to statements filed with tin
Interstate ("ommerre Commission cover
tin,: opt'intiou tor Jilv hoth gross and
ii" t earnings ot li6 lallioads fell off as
'o.ir.arrij with tho same month of thn
Tne l.trtest decrease as in gross, net
being hetl up snuiewlint by u decrea
pi operating cxpfii-cji. The average mlle
'e reporteil was l'!7.a9, compared with
gll,H In July, tollows.
Ciro.i ,.r if rii'ie. t;i,p..i ISO )lii.l'.M 111
Operat.un epenvei.. 17l.iTTilll 0.S09.II.
Net . g;i.ii7i),r,l JM)7 flit
LOCAL GRAIN EXPORTERS
Shipnei Espert Better Business Be
cause of Forojgji Demand.
Slu,i.r-rs vv 1 o have louir lameTted th
Inaemltv if local eru It enporte-s are
now untn IpaUng bjttr Inihlnei. due p- in.
elpall.v to Hit .'tri:B deouinj fur the
prodii.-t Cioin f '''elin matters utnl t!m
4pp!l(.tir,it at Ilarrlcbiirg for the ii -t'urput
ulion of a c.'W rt-m at porter.
Th's n4 the iMflterment ot the inter
nationiii rredlt ystmi tiie exoteil tn
lini.'.iga the etportation of aratn ftom
Hhti- sevf.,-!! c,Yfvt ,i gtau. hu
Utf till P4Mt t.L-eldl'. . Holtimore and
JJonltvul ci'iitinue t do th bull; vt the
Atltintit i 'lust buiiies to tha rret of
h elilppt-ti Jifctt', wtta i 'aim the port
is atfriUmUM wgtMiust in vnrlou was
The V"1 turiuu'lit hsia chtirtere i
He. I uf rsosfU I'm tie- t.augnu.utoti
ui grijin to Ii-, .- i ... nu ( oi Ki.K i i-si-.wdnh'tl
t Ifavi I'-'ltisnort. It was n
pt)lb, lo ji't.'ii i iv tjuiitute gtlaii .
tiun fog itui it l, . Hcr of the Cose -
liresed licmaud fan and market ii-
i on faiuy iu.lt, ofCvrlu; bslug IIk"
1'ieslt-kllled fovkla. uer ib., In t 1
,w., . '' .' wr,MT,iiiia I'-j.j lib.
splere. 2.i- vvelBhlog I lb apje. Su.,:
vveljhliu y7 lb, apies-o tTti ISk -. aeistdutf t
lbs. and under, a leee. 111.-.: old iosir d
welglilugpU-ke.1 Itije.. bi.dll-ig . hi. biii.
nearl. elgliliii I'tK-J lt. aplo. e. tufcljo.
broiling . lilc'Kt-iis. m-a-b , uii t- g.u-l. lug
IbV . fhtv-Lwis. Western. 3'jot lbs aiU"1
lti- . do. do., '.''sej': lbs iituc. IGjji"'
broiling thickens. VVee'cin, l'Sj2 lb. gpicte
I7CIV' . bndhni vlitokrns Wenlero fall lo
S.id ljiulG... nqual'S. Ic dooii UHe.
uelvblng 11 a IS Iba per duen. fk ISt .'0.
white, weleldns B4lo It. i-ei .hi. -i'iJ.l 7'.
while welgtlliigS lb iwr I .ii J.! !;-' '
do. ueiglilng I Its nei d in $1 '"'- uu
weighing UVfi' lbs m ,i , , , $1 S .if 1 'n
dark, an j jcu. , 6Cc n io.
5 VJ . ,1a a.nT,T :. r. "" . "
.Tr ViXS,- '" "ffu.1' IVloier.
CH' VJ ihi t,u
II.IIIK. c,teadtls h.i.i but ni., ,,
AMt'oa"1..1:2? t0 rblUileljUiU urat-s. tUe-iJulu""; ;:-?", . ,"?"'
Foo P B-. cat. 1(W. I Arp'-i p- rv , ", -, -
UUICUJU LIVK STUCK
'l,U ''" ' 5 H.K.S Ro.j.
at 'I0... TV"-1 h J" 1.I'1IW -h tl
r,w"'-N. "" was so uic- xn.4. hi.,
SHERIFF SEIZES FACTORY
I'niiure Attributed to Inability to CoJ,
lect Outbtaudins Arcounts.
wi st t-iiiisruii i-H.tw,., ltf. Wuiur
Uuvid lorn-j luf levia upon Hu br
plunt of the- IVnn Marble arul tlratiii"
;ou'W' ,",- Avwdtle. ,,,, adcr,u,
to U th outfit at iibllv aie n-iH.
proiwity levied upon coiialgu of Pnin,.d
boilei. electrical materUl. ilerTkk
tw ,cinvii.-3 uiisitiai aim
Tbii ii a. (urge
n M 'il Jjiel'Lii
The tm-w f.iiort,
a thai htitu' li.i '.
J-Kll tJ,Jlll It J.
SJVatUlaO.1 1 ....ill
VVjIti K ., , ,,
U-rs of til. Cjtii.i
R i ;'l 'e1 1 -low i
tti Companv- It
V. ilii u VI HM,,4 -o-
i't pgo.j (A illlani I .
t. jje 1 1 1 rgoo.) ti d
"'. .-I r nr-nt inro-
ri ii Ugiimnje
inaiij olh. i
I CHH.II 1 VI
. I H...KI f ill! ., 1
V I' I. r ,,
Ui' li.. I
half pre tent si
!-V I! VII till Ml I1IM-.N
Lei- IH IUI1
ii i.e .it .
till ua' Cif
Ivv't Hud one
biV iii-il"! T . ..I., . . " 0S'J , T.bsr '"Musir'ti plant nti"t, Seuleiuber :. lull , ,
& .'St-?' nei.l.rrV, ir!' ,'.8?)I TJo S, " X? (i R l" o --ul'Je . .11 pee .e.it ".
he'trrs. ( W. woekers a-i -le-s T ia.lc- fe?' l?e I""1 ct ' materia ,ln hei 1 ' " . "" . . . -'-
ra- e V er-ro. J ,igOf u-'-- , " WP'-U rso-t b rHei ' u n . -. ,
xml | txt