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IER-P KTS3Sa 'WF' EVENING LEDGK-PHlLAtoEfcPHiA, SATURDAY, SEPTEMBEE 19, 1914, i I I I t i lil in. ill I I i i i i i.i . , i i i I I I ii I ' 15 1NANCIAL AND COMMERCIAL SITUATION HOME AND ABROAD Effi-BHD BRINGS BETTER FEELING IN FINANCIAL MARKET i SEES BETTER OUTLOOK FOR IRON AND STEEL TRADE Expert Says Prices Have Already Gone to Their Lowest Level. is my firm conviction that It will a loinr lime before we nenln see n iv prices for Iron nnc! steel nroducts ns I we nave seen since the first of the prcis i ent year." Investment Tl11 '" statement mndo In an Inter view by Frank Dandies, vice nresldent ' H-tVMI A renin Snlirir am1 Re"Bl le assent of the Ametlcin ' OUSeS Will Again OOllClt strCi and Wlie Company. v nwiim Bceni ii3 nays, Fume peuji; i veW York FEDERAL BUREAU ANNOUNCES RATES PHILADELPHIA MARKETS CHAIN AND FLOUR " vA'vrjpw "M" ri.OUit. Receipts, MOO bbls 1.S22.400 ths.' . - -, ... I In ineks The market unlet, tint linn In s"nt fl 117 A T FIAT TfilTJO lh "''i1' "heat out ver little demand. UN WAR rOLIUlho ' SWittw. fw va.i 111 mwuw fAclm. 20flsso, do pnfnt. Jute sack. , ro PTiup, sprm. first elcn ffli's. do., atralifhl, ' . S.Vf.V.O, rtn , patent ?. i,ofil favorite 1 ml M noum Beem, no says, -some peopti Nmtf Business and r hlla- looked for an Immediate boom In Affl?rl eV JJUBUH.M cnn trj deelnrntlon o til' Y211 PViilnvi Stiir w"" " nurope, but there came up fcveiftl delphia Will I OllOW OUU. complications thit dclnvcd mutters --- iu.iiwi;,utiiv linn D5, in, iiunc.ci. with the end of the week comes a moro Ln,rl disposition -n financial circles to rrd the situation as exceedingly favor- 'able. Ments 01 me ii " - .... ,.: to clear away the clouded Gone "."'- ItnwM'he'fi nn" ro"'"" of an eariy return It Is sradual but persistent and wo shall continue to ree good tesults coming from It from now on." Blve more U nnvmal tromlse of an eariy revum .....-. than at any time slnco the great European struggle began. has Been particularly ntuu confidence, and the better London In Installing teellnK there, influenced largely by report V1 "?,.... ..t vninrloa for the Ilrltlsh and French armies, has been reflected strongly .he markets In this country. Broker -" ". . ii. -,- t in taMiint nr nn nrly reopening of the Stock Exchange here, so marked has been the general Sprotcnient. Tho exchanges i In Sidney S5 Adelaide will reopen for business on ,3U y ...i it..., to n rlmiitn Mint thr IIILI 1 ...... .-.- BANKS MUST STOP HOARDING .MONEY, M'ADOO INSISTS ifsmlM nllU illbourne Stock Exchange will follow """'.... -,.. In II, l.ol Wt seme time iuki ." .... i'ul.. ii.a fnri, irti nvrhnntrn ninr. coiwpse m "L.. "V-Ti.. : .hi .;::i tit has rieipea miuci .;' " '" .... djustment It touched a loner price Jrel jesterday than at any time In sK Iffks the principal Inlluence being the ncceMful settlement of a great part of All country's foreign Indebtedness This helped along very materially through ft, flotation of the New York City $100. r,m v,nri nnrl enrnornte note Issue Ihleh It was announced today, had been T,.rBubscrlbcd The break In exchange frlltates a return to more normal contil ruis In our trade relations with Euiope, ..neclnlly Great Britain Exports have tn growing tn a remarkable extent. Demand Sterling was firm today and litis recovered some of esterday s de ?l". ruling strong at l.M'i to i 964. Thire waVi a fairly brisk demand, even it the higher rates. wit i. nnit'.Mi: uo.vd sam:s The Philadelphia Stock Exchange Com mittee of Ilvi ann me iomniuiee un iviitti Scr-urltlea have agreed on a plan for the broadening of local bond trndlng b which bond houses will be permitted to solicit business. An announcement to this effect will be made at the Stock Exchange on Mon tiy, and the Bond Comtnlttro will nlso ..,.1 mil n letter on the 'subject. The dan has the sanction of tho Clearing House, and similar action has been taken in New York. Restrlctloni on trading will be relaxed 1,1 as to allow the sending out of bond Secretary Treatens to Recall Emergency Currency From Bankers Who Deny Loans for Legitimate Commercial Needs. WASHINGTON, Sept. lD.-Drastlc ac tion against bankers who are hoarding money, denying loans for legitimate pur poses to commercial boirowers while their vaults bulge with "wnr emergency" and other currency, Is being considered by Secretary of the Treasury McAdoo. Tbr Secretarv and members of the Fed eral Bcsene Board admitted tndoy that numerous complaints against bankers are being received, Hecnll frmn unending banks by the Treasury of currency Issued for the wnr emergency under the Aldrlch Vreeland act unless the hoarding ceases ! was being seriously considered today, It was reported. State banks, which cannot be reached by the Federal officials, are also offend ing bv hoarding their money. It was stated toaay. NoiRisksWillBeTakcnon Cargoes to Ports in North, Black, Baltic or Adtiatic Seas or the Bosphorus. Exporters In this city received today from Washington the schedule of rates fixed by the Federal War Itlsk Bureau covering Insurance on cargoes destined for foreign shipment. On all shipments between ports of the L'nlted States and Its possessions or nny nonbelligerent country In the Western Hemisphere would be A per cent.; to nonbelligerent ports not north of Havre or oaBt of Sicily, 1 per cent.i to nil other ports, 1'4 per cent On vessels between L'nlted States ports or Its possessions or non belllgerents In Western Hemisphere, t4 per cent.; to nonbelligerent ports not north of Havre or cast or Sicily, 4 per cent.; other ports, 1 per cent. Tlmo policies will be Issued for M dnvs only at a 2 per cent, rate or In special cases S per cent. The rntcs nre all subject to change without notice. The bureau also announced that no Insurance will be granted to vessels bound for ports on the North Sen, be- M S.tw.ViO, rtn . patent ('. iiOtfil favorite hrnnils. Sll B.Yflll 71. rIM mllH. rlinlie nnil innry pmrm, inzmiiii, no, romiinr granes n intrr, rinar M.i.if.,, ao . rnicni, . -ijiiii do.. Mrnlclit. .. SO: ,1 fr ,njn . , Ml'irt.., u'yu,, HrmuuiK in.. itVK l'l.ntm.a.ii.!. w nr, i r '?.""? .'. '"r,ri' : fi.v.-m tiM. i,hi i .T " ' . "". '"' 'inner "Pir.. I'-e- oin- r--. -' u. hIAlfirl PROVISIONS ro.)Vters, i 1012c. , spring rhlcken. flne, Inree, lTl?! iliJ, medium le. 'fiWKio . ducks, old. 111? He i do, spring, Mtfl.V.; RUlnoas, pir pair, loung welgliliig 2 lli and oter nplere, "Oc . do., neighing l'rrl lbs. apiece, 00i(ttt doi MelglllnK I Ih. Hplrce, fOc . old, .'0' 1 pleenn. per pilr. lSwlRe ItttRSSKK. The market firm nn desirable sioeki with ilemainl eipml to the limited ofTer Iiirs. rresh-kllleil fnnl. per lb, selected heavy, 21'Sc fanr welnhlnn 4(ji?S lhs. apiece, 20Ue.i weighing 4 Ih. nple-e, 20e i nnter. dn ehleVeni, nearby, l.lHe , hrolllng Mnrset O'llft but steadc rity heef. In seta, smoke,! and alr-ctrlert. .tltfl2c , IVeHern lieef In set, smoked. ai!12e . elt beef, knuckles ami tenders, smoked and alr-rtrletl. I2ftat . Western beef, knuckles and tenders, smokd, .12 ff.Ttc. heef hams, f40a4'i, pork family (Wild 2f. Hams. p. p. cured, leose. lAHQIflUc . dn skinned, loose, IfsHtfld; fio , do . smoked. lffl lite ; other hams, smoked, city cured, as to hrand and at erase. 1fiinc , hanie, mnke.i. Western cured, liSIOc, , do, boiled, b.ine leis, 2S52nc.i picnic shoulders, H. I' rure.l, loose, UfflflUe. , do., smoked, HffN'te i bellies, In rlekle, according lo .neraie. loosn. lrilRc. ; breakfast bacon, ns to brand and average, city cured. 22U2IC. . breakfast bacon. Western cured. 22fr24c. lard, Western refined, tierces, IliMMPir.: do., do., do tutu, limmiir. lard pure cll, keflle rendered. In tierces, llViwt2c, lard, pure cits , kettle rendered, In tubs, ll'ifjllc. SUGAR Market nuitt at eiuotatlons. Standard cran ulated, 7.30c.. dne granulated. 7 2."ic. powder ed, T.1.V . ronfectloncrs' A, 7.1,1c , soft grades. (U.lffT.OSo. DAIRY PRODUCTS ., nt'TTEH Receipts of desirable stock llRlit and prlres sternly, but trade unlet West em freh, solid-packed, crenmerj, fancy spe cials, ate., eitra, .121!., extra firsts, .lie., firsts. 2P'4fnni(,e , seconds, 27li21'&r. ladlD paik ed. 21fr2nc. ns to ipialllv. nearby prln's, rrncy, .vie do. nverage extra nitrlle . dn , firsts, .loinsc , do . seconds. 27W2IIC. Sperlal farov brands nf prints Jobbing at HWtte . KdflS Demand eouat to the limited offer ings nf One fresh stork, lirlces of hli h stead ily held In fice. cases nearM extras. :ilr. tween the latitudes of Chrlstlansnnd nnd I fel '.'oz nearby firsts. $s 40 per standard ease ut-ti,, viiticiik re. riinn, i.,"ifii nn per siHnn ard case. Western extra firsts $s 40 per case Amsterdam, on tho Kattegat or Baltic Sea or adjacent waters, to ports on the Adriatic or Black Sens or on the Bos phorus, without special application and rates. Because of the exceptional hazards In volved, the Federal bureau will consider these special ports only when applica tion Is made to It nnd It reserves tho right to decline nny risks to these ports, or, If accepted, to name such rates as may seem in Its Judgment adequate. DEFICIT OF NEW YORK BANKS LARGER THIS WEEK Loans, Deposits Hesorve nnd Net Show Advances. Increases were made In all Items with th exception of three In this week's Wblle millions of dollnts of emergency 1 statement of the members of the New nave lieen poured out to the orn Clearing Mouse Association. I-onns currency nanks, manufacturers and merchants are being turned down when loans are. re quested nnd Interest charges boosted, ac cording tn complilnts reaching the treas ury. Jinny batiks are also snld to be de clining to extend mntuilng paper. Hoarding always occurs In times of dis tress, but with the treasury dealing out cunency with a free hand theie Is no necessity for such action now. In the advanced J67.2S8.nO0, net deposits Increased $(i1,ril2,000 and the tlcnVIt incn--noJ 3,- 1 319.100. ' The following table gives the average condition of tho members this und last ! week: Now lialebmen. Issuance of circulars and other reserve board ilvertlslng, and solicitation 01 ousincaa on the basis of prices approved by the committees, sales to he only of bonds held by the firms offering them, and only on a cash basis Annoiirtcemcnt that New York Invest ment bankers had decided to again put through sales on a large scale and thnt PhlladelDhla firms would follow suit next week gave added strength to the situa tion A committee will meet In New York dally to pass on all snles and their restrictions will be stretched so as to per mit transfers at lower prices, It neces sary than tnose wnicn ruiea wnen me Exchange closed duly 30. This Indicates very clearly a llnal re turn fb'niore normal conditions, since for iweeks the brokers have been testrlcted la sales to the last official Exchange price There Is a possibility that a simi lar ruling will be made here At any rate, brokers and bond salesmen ate brushing the accumulated dust from their desks and chairs and are getting in shape for a more active trading nil of which forecasts the return of a brighter situa tion Tho N'en York Committee of Seven, after continued conference with the Clearing House Committee and the Stock Exxhanee Committee of Five, makes the fo'lonlng announcement: with the concurrence of the said com mittees, it Is the understanding that jthalers In bonds should be directly gov erned hv the following rules: The sale of unlisted bonds owned bv tre dealer It Is thought thnt dealers sHnuld be free to sell such bonds to In vestors. "The sale of unlisted bonds nnl nwneri ty the dealer, all such proposed trader should be laid before tho Commlttep of Seven The ae nf listed bonds: all such nro- pesed trades should be laid before the .Stick Exchange fommlttee of Five." It Is the ffenernl nvneelntlnn thnl nl the rate of progriss belnj; made In clenr- n-. the trade of onen cnntr.iets tenulrln International adjustment, the cotton ex panses of the country are likely to be open for businea intlde of the next two r three weeks l.nans Pperle . . . t-m.il tenders 1 Net derost3 Onlnlnn nf Sneretn,-,. VtVJn 1 .1.- I ' UCUMUOn ' ....... .... j ..wuuw, ,iiiu nit,, i nnut' Sept l'l. Sept. 12. ,$j.atn,v.2rrn U.iuii 4.0.10 7i,ari,irin i-o.sis ooti Hot ween October 15 and November 1 the leserve board plahs to have the .new currency system In operation, nnd mem bei believe present hoarding will then cease. the fjoi.D root. I'UAN J B ForCHTl fit Phlpjnn. a 11 um tn and Benjamin Strong. Jr.. nf New lor't. ind Levi I. nne r,f ni.iinaini.in '(preifntinc the mmmiiiu, ,,,i.,..,.i 1,,'. j e conference of bankers called by the .'Wral Heserve Board on September t to corsider the foreign exchange situation, JMerdai confeued with the hoard In ' rtner consideration of their proposed van to 1 reile a i,nM r,,.,.i ... i, .1.. his , o".m tun., iu rritcvc lite wernatlnnal exchange situation. The wrniittee originally recommended that a 'W fund -if ,lSO.Ono,000 be created hv nnn. S' Iw the banks of the country .-.. ,u reserve MORE DIVIDENDS PASSED l'nlted fins and Eloctilc Coiporatlon has passed the dividend on Its first pre ferred stock because of the disturbance of financial conditions It Is i-nld, how ever, that the dividend hns been fullv earned. The dividend usuallv declmed at this time Is 1 per cent, semlnnnunlh. Galveston Wharf Company. In which the city of Gnlvestnn, Tex., hns iGoO.Cft) stock, has passed It" dividend. cish In vtts. Tr los' cash In vlts .vsreffnte cash res. Tr ens- res. with trem Deficit. s.21 UUP l.nsi.'jjn.nro 12n.71H.nOn .1(2 n7.fo iin.ipn.roii 40S7II7.MO.) IO-.-iOLOOO :is,:i4,liio 7il..iS1r(ti 1,12(1,214.1011 124..11ll,HO'P wi.iiin (iflo (iS.777.OiKl '!7 I2l.iis S1.12P01O .I.I.IHW.HOil do., firsts. $7..V)07 10 per case, do., seconds, !il.iKlfli no per case randled and recrated fresh eRfts were lobbed out at .IHfTfc. iicr dos ns .0 rjualltv t CHr.KSn. Offerings light and market firm hu' tram, ipuct .Sew V iK full ucii. I . IfJi iWlRVc do., do fair tn Rood, lriijfilOc , do., part skims, Iifll4c, POULTRY LIVE. Choice stock firm, but poiuiry ami nnd wean low is nrdlnnrv 17?i l"e , old welehlnir 1a lbs. nide'e liifl2iie , do., fair. to (rood. liWlte , ihleken Western, I'4Ht4 lbs. apiece, llic , do do 2UW lb. apiece, In ifM7c . broiling ihltken", VAretern, weighing it2 lbs. apiece 17'rtf.r . ,p, fair to rho I ilWlflc,! soiiabs, per dor. white, nelKhlne 11 t?12 lbs. per do? , 1 1 111? I .111 white. weUhlng liniO lbs., per Am, 1t71 7.1 white weighing S lbs , per do?., (2.2.11,2 Vi d . . do . 7 lbs pi r do, (f.7,1'32, do do., rftt'i i,s p,-r do?., (1.2SffI.uO; dark nnd No 2. CV.1?I.l0. FRESH J'-ItUITS Market quiet and without Important change. Appies, per nni. uraxenstein s-' tv 1 Plush. (2.fiO'!?.1 nthir piod eitinis arleiles 2,"oa.1, medium, l""?J2Wi, npples Hli-,-ware, per hamper. IlifliOr Unn n per box I HW4. I'lneipples. per ernlc Porto Itlco. (1 2'Bi 1 '1.2.1. Florida, (l?2r.0 rrnnberrles. Cape I od. I Knrly lllack, per bhl , (4 '.Of?.,, rrnnberrles Cape Cod. Han filar k, per erate $1 "Iff J Cranberries, ,Iepey. per crate Dark, (1.7"i 2 2.1. Hunt. Ilffl 2,1 Ilinkleberrles. per qt.. 491c. reaches, Va.. per 20-lb. basket, 211 TV do, do, per crate. Tie W(l..Kt: do.. Helawnro and Atari laud, tier basket 2Ti?71e. do dn per crate. 7riCW(l 2.1, Pe.tehes 1'ennsvlvnnla pej liisket ttrge while or vellow iT?M)a , medium, .Iftf.Vie peaehes. Jersey, white, per H-basket. tCtclltt do. do. lellnn, per basket 40cif?l. Pears, nenrbv, ner bhl Itart lett. No. 1, (.igrj do, No 2, (2.71'i?.'l 21 C'lnpp's Favorite, No. 1, $.1 .VKiri. do . No. 2. (2.7.1f)1 2.1 other varieties, (2fl't pears New York Serkel. per bid (P3.1. fJrapes, Houthern Delaware, per carrier. 40f?n."r , Krnpes. Con cord, per crate, lOflbOr Plums, per N-lh ba'ket 202".c. Cantilnupes. Colorado per crate, (lfll 21: do., do, flats, togoSc. Water melons, Jersey, per loo, (1315 VEGETABLES Potatoes quiet hut tead). Other vegetables showed little change Penna. choice, 7.W75C. . do., fair to, good, Mgnie . white potatoes, Jersey, per basket. 40J?4rie. sweet potatoes, Eastern Shore, pr bhl. No. 1. $1 7r.'d2.1.1, No 2. 7.1c 0(1: sweet potatoes, N C, per bhl No. 1, Jt 7.1t?2, No. 2 7.1c fid. sweets. Jer sey p-r bhl. No 1, J2.'fl'!?.'.71 No. 2, II BOW t.7.1. sweets, Jersej. per basket, 40fj "Or. Onions, Western and Conneet"iit Vallev choice, per lno-lb. bag, (1 101 20 onions, me dium, per lno-lb. bnrt, (1. Cabbage, domestic, per ton. (IHtll. Celerv, N V per bun -h l'l E?."Oc, Mushrooms, per 4-lb basket, 10c tl Jl 00. MUNICIPAL BONDS BANK CLEARINGS .2rfiH,.CI".ar1",". '"J" lominreil ulth corre sponding das last two enrs nnil."i''lphl'1 OfvCS! -'T.in".140 (2lll24,72lt ...- ,..., .,, ,,, ,-, -.,, (M, ... ., .,u -c- -,. lork 111,181.70.1 mi nrj.ooo "....... HILL URGES PRUDENCE l ST. PAUL. Sept 15 -James J. Hill, when asked by a repiesentntlve of the New Tork News Bureau as to effect of European war on general business, con- , ditlnti!-. answered that ne was not a prophet or son of a prophet, hut he od- 1 vised people to be "prudent nnd careful. and not to bite off more than they can chew." Chester Issue Taken Here More Of ferings to be Made. An Issue of $71,000 paving bonds by Ches ter. Pa , was awarded to K. J. Coleman, Philadelphia, at p.ir nnd Inteiest Bids will bo rooolved until Siptember U by the Jliirgtss of Hancock, Washington Countv, Md., for JlO.fOO ,1 per tent water bonds Lecohburg. Armstrong Countv, Pa., will not offer $'"00 school bonds until June, 101. Bids will be received until September 23 by Phlllipsburg, N. J., for (13,000 1! year Is. An nrdlnnnce. calling for a vote 1 n a $l,."vifi0 bond Issue, was Introduced In the Beading, Pn Council. The loan will be voted on at the general election, to be held November 3, and, If approved by the voters, the money Is to be used r,, the following items: New cltv hall SIWO', storage reservoir. (W), land for paths and boulevards, 20,000, Improved street paving, $250,000. titles and central reserve C ,i :i 'cm'ie-'"s ?- eMlmi . ""'""' us maturing MmftV. ns and or ,he necessary gold "mitUnces to Europe relieved one phase to fi.'.u 4a,lon an'1 male '- desltable ..mI , '-ci uie auujeci ana ue- temine what further relief. If any. was pECREASE IN BANK CLEATtTNns Ithat n, Fu 'a Newa Bureau Points out Fnlteri q,th.e "ven ,arge cl-les In the khoiVd . te8, only one- 'e"- Orleans. korrelrlnnd. ,ncrea?e this week .-ver the corresponding week last ear In the mat- feous. S.lha1BM through the clearing -- .HUUUn IT.WW a. --D.. VUttUI, IIIUI ement In the normal because K i.b!l,Ji "'"LV"? banMne bU(" I condition. . "ormat because of war Cenof3an'ence'n,that Clty Were a" .V'''"";. 0f de"a-e In clear- --" the imail. Vkr,cl,r' M P nt ; " nt smallest in nii av.. FAILURES THIS WEEK Vetted Stat.. a,lur this week In the Co a?!";," "Ported by R G. Dun iM- the oree.dio a-!a,nt "8 last week, Pondin""!'"8 ,-- and 252 the cor cMaRmWhe.V' !ast 'ea--' Failures In ,8 .h.S?' - last week. ?ar oV;:r1-", " and twenty last THE COTTON SITUATION Statistical position of cotton, ns mnde up by Financial I hronlele follows ,-. ,., . 'nl, "e'k l-astweek LastYear llslble supply. 2,7tin,77l 2,770 040 2.S3IM70 American 1..11.1 774 1. Irtg.Olil 1421170 In sl'ht Sep. IS 11.11,117(1 474,S0.1 l.lifl.104 FINANCIAL N0TES Philadelphia banks have taken out $127,20 emergency cunency from the Sub tieasury In this city, making $9,CJ2,lO0 Is sued thus far. Out of a total of 21 hlast furnaces in Eastern and Central Pennsylvania only nine nro In hlast. Hanks gained fiom the Stibtie.tstiry yes terday $12,IW. A reduction of 2 per cent. In the civil engineering force has been ordered hy tho Now York, New Haven nnd Hartford Railroad. In the matter of a proposed Increase of 15 per cent In freight rates, the nnif. Colorado nnd Santa Te will start a force of expert accountants at work preparing data to be submitted to the Texas Rail road Commission at the public hearings to be held In Austin, beginning November 29. Government reports give the condition of sugar beets on September 1 as 92 5 per cent, of normal, foiecastlng a yield per item ui uuuiu i'-i-i pur cent. International Steam Pump Company re celvers have been mthorlzed to Issue re celvers' certificates for $5fo,(Xi0 at present They are permitted to Issue $1,250,000 later! If It Is necessary. Hoard of Public I'tlllty Commissioners of New Jersey approved the application of the Atlantic City Electric Company and the Ocean City Electric Light Com pany for the purchase of the Intter by the former at $272 063. The Atlantic City Electric Company was authorized to Issue $70,200 preferred stock and $21S,fX0 bonds. Rankers In charge of the sndicate which underwrote New Yotk cit's $100,. 000 000 loan have announced the over subscription of the bonds and notes, al though definite figures were not et available It Is believed 20 per cent of the Issue has been taken by foreign holders of maturing notes. DIVIDENDS DECLARED Phlladelphli Company, regular quarter! 11, per cent on eommon payable Noiembe- 2 In scrip, tn stock of record October 1. Pcrlp Is redeemable at option of th lompanv on or he'ore Miv 1, 101R, and will heir Interest until date of redemption at rate of 0 per cent p-u -able semiannual!. Company nlso declared regular semiannual .1 per cent on rriferr.d payable In cash No ember 2 to stock of rec ord October 1. Ashland Coal nnd Iron, ouarterlv 1 ner rent pavnble fentemher 21 This Is the first divi dend since Deeeoiber 2.1, 1111, when 1 rer cent, was declared. Veiv Ynr'c Flats Railways regular quarter! of li4 per rent, on the preferred and a quar terly of 1 per cent, on the common, both jn ab!e October 1 to stocl: of record Septemter 22 This Is a reduction of '5 of 1 per cent, from the last quarterly payment on the com mon. Tobaccn Products Corporation, resrular quar terly Is per cent on preferred ravahle Oc tober 1 to stock nf record September 2t. fioulds Manufacturing Cnmpam reculnr quarterly 1'$ rer cent, on common and 1 per cent, on preferred, payable October 1 to slock of record September 10. Sharon Steel Hoop recular quarterly 1 per cent , panblo October t RAILROADS SHOW A CONTINUED FALLING OFF IN EARNINGS Income Reduced More Than $6,000,000 in First Week , of September Cotton i Roads Hard Hit By Slump. 1 With few exceptions, gioss earnings of 1 the rnllrpads In the rutted Ft.itea for the first week of September continual to show decreases compaied with the same period Inst jenr. Moderate Improvement Is shown by some rend', but tho loading systems of the country nio genetnlly below theit last ear's figures. The full ing oft (luting the first week of Septem ber was $ii,4!)l,l31, or 5.7 per cent. The roads showing Imptov. ment ure the Chicago. Imlliinapnlls and Louisville, .Minneapolis and St Louis, Uenvei nnd Rio Grande, Western Pacific, and Mobile and Ohio. Tlie unusunllv light mnvrinent of cotton, which Is geneiall n gteut fac tor In the fi eight business of the rail roads of the South, has adversolv affected the earnings of the cotton mads. To this can be attributed, in ,1 laign measure, the smaller turning- of tli.' Louisville nnd Nashville. Cincinnati, N.-w Orleans and Texas, Southern and some other lntger systems. Losses in the H'ps: and Southwest are not as latgu as form erly. In some Instances, and Indications nie for Improvement, notably In Colorado and Southern. Missouri Pacific, and Missouri, Kansas and Texas. The following table give the gross earn ings of all railroads In the l'nlted States reporting to Duns Review for the tirst week of September, nnd the loss ns com pared with the earnings of the same rnadi for the corresponding period a 5 ear nso. also the roads that reported fot tho same In tho preceding months, tngpther percentages of loss cotnrared itn.u, ii.stvtij roii vi,i West rhllnilclphln New Stone Houses no belne completed in beautiful Over brook Section. tteen 1 ft CM NASSAU ROAD K (First street north of Jefferson St 1 Something ENTIRELY DIFFERENT These houen are nil stone nf the semi suburban tsp". Houses nre 21 feet from built on lots 3.1 feet wld supplli d ulth central pltint heat These houses h.m eterj conceivable conveniens that Is pos sible to equip the modern house of today, Iniludlng marble stumer baths, etc W. Percival Johnson BUILDER, on Premises or 10:111 Ltiuxasler Avenue. These houses ma, be rem tied either via Lleated pissing north up iloth street, ilterlironk (Bra on Arch street or P. It. It., Etilm: nn ut oerbronk Station $300 CASH and .MONTHLY PAY MENTS of $2.1 (of tthlch $.1 redutes n set ond mortB.icei will secure n neu pnrch-fri nt residence containing X room" "team h .it Hun n hall, etc. I'lirther particulars upon request POTTS & TOYVNSENI) l!IO."i H.iltimorp Ave. EVERYTHING FOR SALE OR RENT THE CHESTER AVE, SECTION STOrtHS AI'AIITMKNTS HOfSHS It It Is not lonvenlent t" 1.1II durlntr the dny, run out nnd see me ot nlirht .11 offko and home 11-e under the same roof. DONALD V. REDDING 52d and Chester Ave, (iftieml week with the with last year: CHICAGO LIVE STOCK CHlcAnn sept in - linos - neoelpts. ,V)O0 markets slou to stead mixed and butchers. Konn 41 enod hea S1 ISrftfl 40; rough heavt s 2VSTS ej., UsM $ 71fili 41, Plus. SSflifissi bulk 4'.nn2i cattle Hecelpts. KM markets stead- beeves 7 40 fill cows and heifers. $410 7.1 Blockers and feeders tn totjs .n Texans 7VHjRnn calves, 110.,OS12 21. BHRRP Itecelpl 7VO mar kets vrak native and Western, $11110 10, lambs, ,(?R s1 i,lr Of fiiu,.I . ana lwnty last ?tt x "", ' In the Vnlted ; at npl, arain.. . . " m..-:: " 't week. u..:" " er in k. c '. "vvtan. .-- " ., iw ooutn. . w?t.-5 ruwuS1:. r?u."' ;? 100 South. tfiftAa ai4 Uabiuues of $jooo or more. ?'! fall,.;. eek' L!lbItles of com fcn. Jv ures reported thn. e. - '-tVeir r "".. asalnst $7.1U,r03 . G. Franklin Davis Co. Collings and Richey Aves. West Collingswdod, N, J. Phila. Office, 240 S. 3d Street Collingswood, N. J. 1 orner lot ood location for butlnese. Values Increasing Fins lot facing the Knight Park to room dwelling all conveniences, facing the Knight Park J42SO Pargeln2'4 -story brick delllng. $2050, $210 cash balance may remain on mort gage, payable a rent CANADA IJUYS WHEAT The European war has caused an enor mous Increase In Chicago wheat exports to Canada by way of the Great Lakes. According to figures complied bv R C McCreary. head of the Marine Depart ment In the Customs Office, twice as much wheat as usual was exported In July and August a RIDLEY PARK" On Rldle Avenue, al the lake new bunga low living dining, model kitchen, I bet rooms and bath room for 2 rooms in seconl stnr hot-tater heat Iqundrv hard 10.1 fin ish, front and stde porches lot 30x11-1 old shade, mke view prb e $1200, only onn left terms to suit nlll meet train nr trnlle with auto b appointment Filbert 4102 W. E. L. MOORE 917 South 15th Street, Phila. Sept.. Aug., Jul3, 1 w eek . 1 eek . 1 w eek . 1014 $0.401.1.10 .i.ss7,or. 0.57.1.1.11 Loss $.1IU rt I I-oss 214 1l Loss 2, 1 Jl Per Cenl I 0 0 0 A NEW OPERATION ' loughrankhouses It'ST LIKE Tilt: 111 THAT VB HL'II.T AND SOLD LAST LAR See Sample Houses 4832 North Fifth Street Price $4000 ALSO 516 Eleanor St. Price $3200 These hnte port h fronts ill modern 1m prntements bi-einent laundry, eleetrli light Htilli with the stability that has mide the I.oiiRhrnn house a standard of K00.I tonstruninn See JOHN LOUGHRAN'S SONS 5TH ST., BELOW ROCKLAND ST. .rIITMKNTM Net earnings of the Chicago Notth western Railway decreased $111,211 in the I y-sr ending June 30, 1911, when compared with the same period of the previous year, according to thp annual report Just Issued. The net earnings for the tear were 521.271,509. Tho total operating ex penses for the year were $51,10.1,141 Of this amount J12.179.fiS1 was for charges pertaining to the maintenance of dy and structures. BAR SILVER Commercial bar sliver Is being uuoteil In Now York today at 51H cents In Lon don bar silver was down '41 to 219-lfld IPthe center jy for complete1 Information vB APARTMENTS PALIMER & HIRST Apartment AI'.VUTME.NrS t jvpurimeni -ipeciitiisis a JSg. Phone Walnut 14S Real Estate Trust VJk? WILL EXCHANGE CLEAR for other property. Farm DwelltnE iiarage site to.ooo sq lioKii i.veiiin clear or mortgaged f ft. vxi 3100 40IO own rami near station in Aon ftiihore Bus Block 11 ro,l city Lots 24 kl Seashore Ground to r,no Suburban Opetatlon 40 000 Delaware Co dround ISOftiO JAMES H. DUGAN 7snSTUT BUV A NEW HOME IN LANSDALE SOLVE THE COST OF LI LVO PROBLEM BTft) POPULATION 42 MINI TE.S. FROM REAPINri TERMINAL 15c COMMUTATION FARE NEW TWIN BRICK HOUSES. ALL CONVE NIENCES. $3i00 TO $3V) TERMS SUIT 1 Bt.-nu ruK rJEac-RipTiVE CIRCULAR WM B. ANDREWS J. C. SWARTLEV 13 S. 3d St , PhUi. Mala St.. Lansdale. Pa. Housekeeping Apartments BACHELOR SUITES KITCHENETTE SUITES FIREPROOF BUILDINGS Corner 18th and Walnut Sts. Corner 15th and Pine Sts. Corner Juniper and Spruce Sis. Also Haverford, at Station - McILVAIN & CO., 1518 LAND TITLE BLDG. Uusaj. i$'5SMx-s-wii$ x v w, ftoime!mrt 1012 Spruce Street ONE AND TWO ROOM APARTMENTS I Well-appointed dining rooms with separate tables for each family- "Meals that please" 1 he comforts of a luxurious home combined wjjh the semce and freedom of an apartment h ii-- TeUpkono Connection , 2 ! . Referat,,., .,.. Itl'AL BSTATI3 FOR AI.B West rhllaiielnntn nnAi RSfATti FOIl rA.M , et JpillAdr1phlir New Homes Nearest CentrQjf ,City, Spring Garden and 41st Streets t 3b 1 1 1 XM 11 1'pp tr i, i .iimi-iiiin. jb ' n . '"'"""' SSVUKUfSiVWJ'.Wt 'S Wmt&BPYZ&&&&P73ZZlZ-Z3rnM W St- .- i.W S"f"J'4 FI fa'; WwiiPvc w'W&iX if""! v in z,-j,y. t (,jWS. i vm.xka m uWmmimh j-,.. SSSvSs!KtilKAJS!!tSS8fCS mSwK8fsms& 'vim Hi ,. i m ene; ' . Mi I lillfiirflfil SfWSWI ,-'iri, Tr-1. :. ' '. ' ' -.aPT:?ft3s . , i-r.rr;r, fc Js, . , '?,&' MB. ttlHrilttiliftf '- mitmaamx&v MAGNIFICENT TWO-STORY HOUSES with 8 rooms; lartre terrace"!; electric and prts liRhtitig; hot-water heat; parquetry floors; basement laundries, etc. Prices $2950 to $3750 TERMS TO SUIT You CanPayMore, But Why? EDWARD F. GORMAN BUILDER AND OWNER on Premises, SAMPLE HOUSE OPEN DAILY AND SUNDAY ALSO EVENINGS These properties ran lie reicbed by Haverford suhwav nnd Lombard and South streets cars All car lines running on Lancaster avenue, Including Ann street cars. pass list Just north nf the properties. Orerbrnok OrerbrooU A "NAPOLEONIC SUCCESS" Is the Verdict of the Army of Home Buyers Who Have Been Advancing and Besieging J HOMES Price $3700 62d S-- North of Lansdowne Ave. Only S Left Surrender in Time JOHN N. McGARVEY Builder and Owner, on Premises Any cat" crossing 60th sfrcct or Ovcrbroolc car direct to operation for one fare. ivill pass you (iermnntnvvn (ermnntnim Choice Properties West Side Detached $12,500 .-.tone an 1 hrkk , onstrm turn , hlch eleva tion, one block to Tenia. It It : IS rooms; modern and attractive Int. rlur Lot 09 bj ItiO feet deep Old shade This Is one of the cnol huvs this fnll Various Prices Detached Stone .West Side Tele mom. .1 baths, hnt-nnter hat, electric Ilgh , larire rooms Southwestern exposure i.araco. Convenient to renna It. n and trolley Must bo sold before October 1st Emlen Below Upsal Street $6850 $6850 $6850 $6850 Two-Story Modern Homes, $3700 Three - story stone seml-de- I.nT.s . s HY 0(1 FEET taiheil dnelllnes. containing 11 Ot.ONTZ AMI CHKLTEN AVKS. rooms. Including ! baths Ue-1 Seen roomn. Ljielmtini. hath hn ,t9 turhed porches. Lota .12 ft heot. open flreulace. hanlnood floors ens front Hot-water heat, cas anil ' ami elecirlclt . Lns kitchen Th home. modern appointment Open eleftrieltj, pan kit. hen. wood tloors. tile liHh sample: iioi-sn opkn for INSPEfTIiiN hard- indinle eer 1 for inpertlon See ih.'m before considering eleewher.. Take lirrmant.n n or Willow ji,rneiar over r he -, n i,e 100 feet Bou 1 leurl IF IT' IN dintVI MON, SI.K OH ItLNT. t K HWL IT LITKIr J. H. CHADWICK & CO., 5618 Germantown Ave. iiliurtmn Suburban I i f rO. irTtVi II THIS IS WENKi&HASSE itjr'Svl !3y?nrjjfiL r riimii in in Till. TIVII. H) H MAIN MM. HIIVIKs T IVIM M: Lit SI ( II VI I I OS IS MM. jinn'inoniH n i n ih ewlirn h u.-. vv ii i ue i , im nun 'ii r ."in Ilullt . I Ii I l r m, J Til Ml HVTHs vi. i, Mli ii rt li -n..r 11 i n tut. I t it s " 'i -.1 n qn j too twrn api h m ft - ee( r g I. r I, 1 i.t '1. 1" 'n x n chi .. h 1 near st ,r I n rfniiii om 7nnn HI VI ' i i'itirr IH I ST IllMIt HOVIK l UI'l'OHTl MT 21u (Iniin r . a iv, i tl i , , trn , . ti IP V vv r . n J l,irS 'i almc up t.rt k all in i.1,-ri, . i W tlhin in i H k C N HI" It! VIOIiri 1 II -i v - , I II i h l o d- hi Is .i iff nvxatv H on tMtm SsBmitmnwsi bipck- muss Wet I'lillailelphlu Wm. H.W. Quick & Bro., Inc. 8 South 40th St. Jffer the 1'olIuw.inB Properties for Sale 3900 Chestnut St. The be-t arai-tment .re In WVst Phila delphia I.t Ituix.'.'.i fr. ntlng .n H treet good elevation h Kh , luss surrounllnga, exiellent ur fu. iiliir. XI tke an offer. 4207 Walnut St. Lot K'.iJI, . semi fcuhtnban home. vlh tn ctt limit" nil shide larte llbrarj. reieptlon ant helr.mms mn.1rn plumbtnir , one of the rtnest ..n West VVilnui ttttci Mubt be seen to be appreciate! 3827 Walnut St. t storj semi detach I tone and brick rest, deme inmalnlnic It rooms and many unique features beaiuful outluok: must b sold regardless of ,un 932 South 49th St. A bamain 1.' room lmu built by Bud1 Bros harlwoivl flnili throughout elec lights. KXclusht; nrlghitorhnoil Can t soil close to asses.et aluatlon. 3809 Walnut St. Modern i sior semi detache-1 dtrelllns at a ereatl re.1u". ptir, unsurpassed location unl conlitton. beautiful outlook 518 Woodland Terrace Vewl pipeiel and painted 3-storv ld arl resilnre ,t 3HX135. Mu,h.r .i. pomr Urge r .onu and ponhM. To U cl 1 at a a, nfl e 4007 Spring Garden it'.r hcj,e ,onenTeni m r .. I KI IT- 9K m iT riTluHiiirilimil TJYaTn'YflY ""r"Vn r - n l- n iii I ?, - ill illinium i 1 1 rnrrirsTiMTaiwif iiMMi ii i i x w.-r?:viiiB.3V m jq-- IH 1 '" IflgP 9 t I MMMMMMHaaafcjflBLjn ,.11 . . .a-mr . tasamaMr.iiBJsaaa.. . - " - J"JT .' .. .. . . . - - -- ' iirltf I ,. til nW.. 0s.sSt2? , i r i i- i trs rf L t rfe nii , Iffjagt mm JJ'I 1 paper.! i,nd mhnu. , Knlvu.nl price fPr quick ni remoal n, couitr I H"l I'biliiilelphiii HOMES AND INVESTMENTS 4206 SPRUCE STREET H St. l plunil lllfe- ! ? buih. tile ar1. uerl ani palntel 4030 SPRING GARDEN STREET i. rn'-lTTi piumt 'g . a'ed bia Kn . i...... . . .. i,,. .. f ' ' ' Ju .na'ea aia loi ir i 350 NQRTH 42D STREET no urn nil i r?- r i i- 1 1 i i - 3248 SANSOM STREET . iir i i eruetn l r- ept on ha 1 , rotinih $21, w i ! He 1 ( r SuvO 4400 SANSOM STREET l ( ornei 41th ureei j rrmnis near f' 'examine ani mk in i tfr r 1 607 NORTH 34TH STREET 410 SOUTH 43D STREET ciaV.rco,n;:,lo'nrt.-po.?e. -f.T p umhmr flrM- storv $1550 TELEI'HO.Nhs, Bell. Belmont i Meat 187 fOAITlj.. tuiPi h . t -.-., -i aoth'p?' R' MCCLURE & CO. Bgth Phone?, tg goulh mh Street. Flying up that new home you huve purchased or renttd? If to, make a note of thu. When Buying Furniture Our Charge Account Plan Th a.. Keystone is at our rwi-e 1 an it pa., r perm' . VVHi N..T . fa-jr of ala i jor In ims Philadelphia, Pa. f "1FV A.V A' ' "l NT W. J. McCORMACK THE HOME OF GOOD FURNITURE 4065 Lancaster Ave. Both Phonea, A. .