tfVMIttG LEDGER PHIliABBLPHIA MONDAY, SEPTEMBER 21, 10J4.
Lo
ffiANCIAL AND COMMERCIAL SITUATION AT HOME AND ABROAD-MARKET REPORTS
BOND TRADING IS
RESUMED HERE ON
MORE ACTIVE BASIS
Committees Supervising
Sales Lift Bars and Decide
to Permit Salesmen to Go
After New Business.
fto week since tlio outbreak of hoa
tll'ltles In Europe has opened under moro
favorable condition than the present
tnt The thin of most Import locally
the announcement touny 01 mu
Unlisted Securities that
WIS
rmtnlttee on
tradlnjr would be allowed by Phlladel-
phli houses,
under less rigid rules than
kaV. been In effect heretofore. Brokers
and Investment Banners nro now per
mitted to send out salesmen and to so
licit business by telephone, but tho
transactions must be made with tho
approval of the committee. Similar
rulings with regard to bond trading by
members of the Philadelphia Slock Ex-
J t,,nge were announced today by the
Special Commlttco or Five. me oniy
difference Is that tho transaction must
be handled through tho Stock Exchange
committee Instead of tho Committee on
Unlisted Securities.
The official announcement of the com
mittee reads:
On and after Monday, September 21,
UU, and until further notice, Philadel
phia houses dealing In securities may
Solicit business by salesmen, or by tele
phone, under the following conditions:
"All unlisted securities before being of
fered must be submitted In writing, to the
Committee on Unlisted Securities, who
nIll place minimum prices at which sales
will be approved. Dealers may offer only
securities which they actually own. and
then, only at prices not less than the
minimum prices fixed by the committee.
Each and every sale consummated, must
be promptly reported to the Committee.
"No circulars or lists of offerings shall
te mailed by any dealers until further
notice, except at the request of cus
tomers. "All transactions must be made for
cash, and no trado based on exchange of
securities will be sanctioned.
"We wish to emphasize the fact that
offerings made must be of securities
actually owned by the dealers making
the offerings.
"All buying or selling orders In securi
ties not actually owned must be submit
(ted to the committee. If the committee
hare buying or selling orders In securi
ties so submitted, they will try to com
plete the transaction."
Another favorable Indication of t)he
'better feeling apparent In financial circles
was the announcement that the Baltimore
Stock Exchange had today resumed trad
ing, brokers being permitted to make sales
at prices as or .iuiy a, wnen the stock
exchange officially closed. A special
Committee of Five will supervlso all
transactions. It was announced also that
the Stock Exchanges at Sydney and
Adelaide, Australia, had reopened this
morning.
Baltimore brokers expressed general
satisfaction after a tryout today of tho
plan for limited trading In stocks nnd
bonds.
Orders to buy and sell, filed with the
Committee of Five of the Stock Ex
change, which Is required to pass on
uch transactions, were about equal,
and absence of large offerings strength
ens the belief in some quarters that the
exchange can go a step farther and
permit unrestricted Bales of unlisted
bonds, owned by dealers, without
danger.
neports from Ixmdon Indicate a bet
ter general feeling, with a greater de
sire on the part of Investors to get Into
the market. Passing of dividends of
some of the Important Industrial com
panies has restricted somewhat tho
general volume of trading; but tho gen
eral effect has not been In any way
depressing. Foreign exchange rates
continue easier, und a return to near
normal Is expected to follow the work
ing out of plans for the organization
ot the new JIOO.000,000 gold pool, to
which the Federal Ttoscrve Board has
given Its sanction.
It Is announced that the Germnn war
loan has been oversubscribed by nbout
KWI.Oiyi. Because of the success of
ll'ls loan nnal terms of payment have
cfen postponed until December.
Transactions In the trading group's in
fetv York were small In volume through
out the lay and the changes were mod
erately regular. Brooklyn Rapid Tran
sit was a most prominent feature, being
in good demand for fairly large amounts
l about the closing price on Juiv so.
and there were Inquiries for Central
leather ai slight recessions. The cop
V?.l wel' comparatively In free supply
,"" 'hose Issues offered by some at
"out the lowest prices so far reported.
sales in Philadelphia today included:
I-Hilsh Valley. C1U; .Northern Central,
new stork, at S3. Sales of Anglo-American
,,.'" New vrk were made nt 13;.
I ttlladelntllft Comnanv rntnmnn atneb-
a offer oi at 1 today, unchanged from
lie last sal There are orders both ways
n united Gas Improvement at 60.
FINANCIAL NOTES
ifn !1, ';e'urna t the national banks of
riiladelphla to the Comptroller of the
currency as of September 12 show thev
increased their noto circulation J3.720.SD3
eier June 30. Total cliculatlon outstand
!,.Sn September 12 was J17.8tl.87f;. corn
Pared with 112,120,738 on June 3D. This Is
Ik ,? "ote emulation reported by
J local banks since May H, 1908, when
" IW.08S.619. It marks an ex
Wnsiori of 18.018,193 from the low level
JUne'"ni3l3rarS' ,1U23tSJ- rec"-ded on
John N. Willys, president of the Over
bad ? mRanY,' naa Jln'd " "buya
boue'hf""0!1 movement. He has
""Overland dealers In tne South. ir
each iwii1 buy Rn "Mltlonal bale for
mn.,J?ver,7.na c.ar "Id during the two
BESSEMER BONDHOLDERS
URGED TO MAKE DEPOSITS
Minority Committee Is Investigating
Interest Default on Co.'s Securities.
Holders of Birmingham, Enslcy anil
Bessemer Railroad coupon first 6 per cent,
bonds, Interest on which was defaulted
on September 1, wero today requested
by the Minority Bondholders' Commit
tee to deposit their bonds with tho Amer
ican Trust Company In Boston or with
tho "West End Trust Company In this
city,, which Is the ngent ot tho Amer
ican Trust Company.
Investors In this city hold approximate
ly tfOO.OOU of the boTids, and holders of
about $1,000,000 of them have agreed to
deposit them with tho committee. The
Minority Committee Is now conducting nn
Investigation Into tho affairs ot the
Birmingham, Ensley and Bessemer Rail
road. Members ot the Minority Committee
are: Chairman, S. H. Cunningham, Bos
ton: Oscar It. Dare, Philadelphia; Boyd
McDowell, Elmlra; J. N. H. Campbell,
Hartford, and George T. Wood, Louisville.
BANKS HERE WILL
CONTRIBUTE TO
GOLD POOL FOND
Clearing House Meets to
Consider How Sum Will
Be Divided "We Are
All Ready," Says Rue.
Philadelphia will contribute $8,000,000
toward tho $100,000,000 fund which will
be raised by bankers In the United
States to relieve the foreign exchange
situation.
This becamo known after the meeting
of the Clearing House Association this
afternoon, called to consider tho amount
that banks In this city would supply.
Members of the association, after the
meeting, would make no announcement
of what took place, but it is understood
that the nmount agreed on was $8,000,000.
Levi L. Hue, chairman of tho Clearing
House Committee and president of the
Philadelphia National Bank, said that tho
Institutions In this city would subscribe
whatever amount Secretary of the Treas
ury McAdoo shall decide. He said that
information had not yet reached this
cltyclty as, to tho exact amount Institu
tions here will be asked to furnish.
"Philadelphia stands ready to furnish
her quota," said Mr. Rue.
How the individual banks will contrib
ute to the fund could not be learned, nor
how tho amount will be divided among
them.
Formation of a syndicate will be the
first actual business that will bo done.
It Is believed und not more than two or
three days will be needed for this, nt
the most. In this syndicate there will be
Included the city bnnks In the reserve
cities of Now York, Chicago and St.
Louis. Slnco many large cities are listed
as country banks these may also bo
asked to contribute.
It Is understood that assessments will
be made generally In proportion to the
gold holdings of banks. On completion
ot the syndicate, subscribers will be ask
ed to forward 23 per cent, of their sub
scriptions, $23,000,000, to Now York. An
officer of tho Clearln gHouso Associa
tion today expressed tho opinion that a
large part. If not all of this $23,000,000.
would be forwarded to the treasurer of
tho Dominion of Canada, at Ottawa, soon
after Its receipt.
UTILITY DEFERS DIVIDEND
ending November 17.
onTsat,!rUi'trea3Uy l08t 30-oco banks
n Buray and since Friday $H2,C00.
foniran. ru ". " "'"I construction
nnlfhVa
West Penn Traction Directors Say
Co. Must Conserve Its Cash Besourc.es
West Penn Traction Company has de
ferred payment ot Its preferred stock
dividend. Tho last disbursement was 114
per cent., made on July 15, this year.
In announcing this action Its Execu
tive Committee Issued the following
statement:
"On account of the present business
depression It appears that the cash re
quirements of this company during the
years 19H nnd 1915. may absorb the cash
resources, because of Its obligations tt
make large payments for constructions
and additions to Its plant and property.
The company has on deposit a laitre
construction fund, but In the expenditure
thereof It Is under contract to make n
parallel expenditure out of Its earnings
during those years."
PUBLIC UTILITY EARNINGS
int-t. Increase.
EI.MIP.A WATER. LIOHT AND P.AlI.,nOAI-
Fmir months' gross r'S-'."-.'1 $41,021
Ncl after taxes i:iS.45 17,101
' trr.ui skcuuities conrortATio.v-
Aufjuat gross ".Srt.5",5 S31.W11
Net earnlnes ,vl, ,'. 4.ms
Twslve months' gro... 2,ivjii.s;n a.'ii.so.-,
Xet earnlinH 1.120.170 100,01(1
AniUf'XnALMC BI.BCTRIC POWER COUP.
increase in fire
insurance premium
collections
Gain of $46 J 82 Noted in
Receipts of All Companies
in First Half of Year.
Total Exceeded $3,000,-000.
Cain of $46,182 Is recorded In the nmount
of fire Insurance premiums collected hero
during tho first six months of this year
by all of tho companies doing business
In Philadelphia. Total collections for tho
period aggregated $3,091,681. as ngalnst
$3,045,402 In the first half of 1913.
Ot the total collections between Jan
uary 1 and Juno 30 this year, Income of
Philadelphia stock companies totaled
$550,118: Philadelphia mutual companies,
$10,4SI7; Pennsylvania State companies,
$127,732; Now England companies, $452,213;
Now York companlos, $702,824; New Jer
sey companies, $135,699; Southern com
panies, $64,062; Western companies, $130,
9S0, and foreign companies, $763,469.
Liverpool and London and Globe Com
pany, a foreign corporation, heads tho
list of Individual companies, with Income
receipts during the period of $117,690. Fire
Association of Philadelphia Is second In
tho list, with a recorded premium income
of $113,606.
Tho following tablo gives a record of
the payments received by Philadelphia
stock and mutual companies during tho
porlod, compared with Income for tho
first six months ot 1913:
PHILADELPHIA STOCK COMPANIES.
1014. 1013.
Alliance JS.WH $12,201
American 0,008
bounty VAWl 13,230
Fire Association ll.'l.CMI 107,872
Iranklln iM.SM 1,.'I58
Olrard 47,847 47,72.)
Independence 1,535 1,038
Insuiun-ie Co. of North
America 85,733 77,708
Iniurnnce Co. of State of
Pennsylvania. ,18,227 .10,832
lajtnher.-nen's 17,080 IK, -Km
Mechanics' 34,724 W,B35
1'cnnsylvnnla 05,050 77,81'S
l'lilladelphla Underwriters" 20,487 18,455
Itoilance 12,2111 ll.Osl
United Firemen's 34,050 35,235
1550,118 $527,000
PHILADELPHIA MUTUAL COMPANIES.
Atlantic $108 $182
Exchange 115
frrankford fi,770 5,205
uraphlc Arts 1,201 1,324
Hide and Leather .'123 425
Independent :il
Keystone- 1.1,502 12,072
Manton 12,000 11,577
Manufacturers and Me-
elmncls' 200
Mutual Assurance 5,2lo .-,,007
Mutual (Jermantown 15,840 10,343
Mutual Fire, Marine and
Inland 701 208
National 7,Wl 4,207
National Petroleum i:tl 420
Paint Trade 50B 1,000
Pennsylvania L u m ber-
men's 2,077 2.8S3
Philadelphia Contrlbutlon-
shlp 11,852 11,514
Philadelphia Man ufac-
turers 17,082 23,1.17
Southern States 230 210
Standard R.rOn 0,788
Transportation 104 10(1
United States Merchants' ... 108
$100,407 $100,081
Insurance Company of tho State of
Pennsylvania has been granted license to
write marine business In New York State
through J. S, Frcyllnghuysen. It Intends
to write war risks for moderate amounts.
John G. Simmons has been appointed
suburban general ngont for the Insurance
Company of tho State of Pennsylvania.
Several life insurance medical directors
of this city will attend the annual ses
sions of the medical section, American
Life convention, which will be held In
Pallas, Tex., on October 7.
ASKS RECEIVER FOR
BIG POWER COMPANY
Stockholder Charges Insolvency and
Mismanagement of International Co,
TRENTON, N. J., Sept. 21,-ltcniy W.
Bull, of New Vork, a stockholder, today
made application In the Court of Chancery
for the Appointment of a receiver for tho
International Power Company, alleging
that the company Is Insolvent and charg
ing mismanagement by officers.
"Chancellor Walker mndo nn order for
the company to show cause here on Oc
tober 6 why a receiver should not be ap
pointed. His Is a renewal of an appli
cation made some time ago, but not
pressed,
SALES FORCE COMING HERE
Cambria Steel Co. to Locate Depart
ment in This City.
The Cambria Steel Company's entire
sales department Is to be located In
Philadelphia after October 1st, with
main offices In the Morris Building, Chest
nut street west of Broad street.
At present the alcs department of the
steel plant Is located with the firm's main
plant In Johnstown, Pa. In bringing the
sates department to this city the Cambla
Comparly counts on getting closer to the
markets of Philadelphia, New York and
the East.
It wns rumored that the company con
templated opening extensive branch of
fices In the mora Important South Ameri
can cities within tho next few months.
While no one connected with the com
pany In this city would talk of such a
plan, no denial was mado when the ques
tion was aBked one of tho department
heads who was visiting In Philadelphia
thUa morning.
PUBLIC UTILITY NOTES
The total of electric generating capacity
and power purchased for uso at the an
thracite mines Is 79,811 kilowatts, which
Is approximately equal to 103,400 horse
power. Tho horsepower produced by
steam at tho mines Is given as 531,23!) In
tho last annual report of the Bureau of
'Mines of Pennsylvania.
The Cleveland Railway Company has
becfl authorized by the Ohio Public
Utilities Commission to Issuo and sell nt
par pro rata to the compnny'H stock
holders $1,068,600 common stock. The pro
ceeds are to be used for extensions nnd
Improvements and t orelmburso the
treasury for capital expenditures already
made.
Tho Ohio Public Utilities Commission
has authorized tho Mnssillon Gas and
Electric Company to sell $118,000 first
mortgage 5 per cent, bonds nt SO.
Contracts with 673 customers for 603
kilowatts of lighting nnd 308 horse
power in motors were closed In the week
ending September 4 by the Minneapolis
General Electric Company.
To cstnbllsh Irrigation and power
plants In Western States, tho National
Hydro-Electric and Conservation Com
pany has been Incorporated In Delawaro
with a capital of $10,000,000.
MAYOR BLANKENBURG RESTING
Chief Executive Remains at Home
Today Owing to Fatigue.
Mayor Blankenburg did not go to his
office at City Hall this morning owing
to fatigue as the result of a long auto
mobile ride yesterday.
At the Blankenburs homo this morning
It was said tho city's chief executive had
decided to spend the day resting and that
apart from being tired ho was feeling
well.
WHEAT NERVOUS
AND CHOPPY UNDER
SLOW PRESSURE
on
Early Prices Higher
Strength of Spot at Liver
pool, But Weakness Fol
lows Selling by Specula'
tors.
CHICAGO, Sept 21.-The wheat market
today was a nervous nnd choppy affair.
There was fairly Important absorption on
resting commission orders on declines
nnd apparently plenty of selling pressure
at an advance of ltt to li from Satur
day's close. Tho entire rango covered
wns 2V4 to 3-7i cents. Early prices wero
higher, being affected by tho strength ot
bpot wheat nt Liverpool and tho week's
showing of world's exports, which Indi
cated that America was supplying the
great bulk ot the world's needs. Actual
export clearances today were 087,000
bushel. Values weakened sharpty at one
time on free selling principally by local
speculators, who noted a diminution In
tho public demand for wheat nnd saw
weakness In the markets ot tho north
west, reports of coming shutdowns of
four of the live Minneapolis mills and a
largo Increase In tho ivfslble hupply.
Sales of the cash article were 530,000
bushel. Futures closed !i to ".i cent
hlshor.
Corn was Irregular and nervous, with
prlccB about as much above ns below
Saturday's close nt times. The demand
was small, but there were export In
quiries at all the markets that have
corn available. The cash article ruled
steady to firm here, and generally firmer
elsewhere. Sales of cash corn wero 85,000
bushels. Futures closed U to cent
higher.
There was a large trado in oats and the
market was nervous and irregular. A
heavy export demand was in evidence,
and the sales here were liberal. The
country Is selling nothing to arrive.
Sales of the cash article were 650,000
bushels, mostly for export. Futures
closed Vs cent higher.
Provisions were easier with the support
poor. The selling was of the scattered
commission sort.
AFTER MONEY HOARDERS
Treasury Department Begins Inquiry
of Complaints Against Banks.
Following tho announcement by Secre
tary of the Treasury McAdoo that ho will
withdraw emergency currency from banka
which have been denying loans for legiti
mate commercial purposes, It was an
nounced today that Comptroller Williams
Is Investigating complaints of this sort.
The complalntfl Indicate that the banks
demand abnormally high rates of Inter
est. Tho Comptroller, It Is understood,
is tolcgraphlng the banks to furnish him
with n list of loans and tho rates charged
In each Instance.
' Where It Is Indicated that a bank re
fused a loan because of Insufficient funds
tho Comptroller has dccldod to Investi
gate the reason of this shortage, nnd
will advise the bank to take out emer
gency currency. Investigations conducted
thus far show that banks are not at
fault.
CARRIAGE SALES
BIG, DESPITE THE
ADVENT OF AUTOS
Leading futures ranged aa follows'
Saturday's
wncat upm. iiiBn. low. iiose. close.
September .. I.1UJ
December .. 1.14S l.ir.
May 1.2115 l.2
i;orn inew ueuveryj
1.1SI4
1.10'
LIU,
1.1.1'-
1.2CKS5
.101!
'l.l.-.'l
1.20?;
September
ueeemDer
May
Oats
trptember
December
May
I.nrrt
Reptember October . .
Janunry .
Itlbs
Peptember
October . .
January .
Fork
Peptember
jnnuiiry
VS.
541;
T0i
74 ,
r,M;
sot;
T014
7.1 J
78Vi
t4R?i
. 0.07
..1U.17
10.00
..10.80
0.07
10.2(1
lo.w 10.n1
.... .so
1I..-.2 ll.K!
10 0.-, 1 10.07
.... '11.45
1 10.07
10.72
70'4
47
OOtl,
KH
0.02
o..-
'10.22
11.1.1
ll.ir.
10.S2H
DIVIDENDS DECLARED
International High Speed Steel, recular semi
annual J per cent., payable September 27.
fiold nnrt Stock TeWnipIt, regular quarterly
l'.i per cent., payable October 1.
Ohio Fuel Supply, regular quarterly
cent., payable October 15.
por
RAILROAD EARNINGS
SOUTHERN RAILWAY.
1014. l)c.
Second week Sept Sl.251.slil $T!l.lih1
From July 1 .. .U.S.'.l.OIC 00,11.1
vino INI A RAILWAY.
10H. Dec.
July sross JliVi.Sll ?27,sl
Net sfter taxes im,4A.l .ts.osi
July gross S7'14,5
t 1.Ih7
Twelve monlhs' gross .. 1,340,10.1
het 2S0,0S.'l
' TWIN CITY I.INES-
I'lrst week September... lr.,;n.'l
Jan. 1 to Sept. 7 0.2J0.4US
MT. WIHTNKV rOWUH AND EI.KCTItlc-
Aiigust gross 50,fil7
Net after taxes .1.1,004
Twelve months' grosi .. RII.OS1
Net after taxes S&4.12U
$4,MO
3,6311
Ki.rwvi
.17,089
4.M.120
.110 043
J.1,r,l!8
o,4 m
U5..V.H
SO, 101
CONSOLIDATED (JAS. ELECTRIC LIGHT
AND POWER.
Year ended June 30.
Uross . . .
Net
Decrease.
1014. Inc.
8,400,m 2S3,oai
3,007,075 84,718
WAR AIDS HOSIERY MILLS
ny naa been held ud sine
"it tt itnu?,"!. pUce,J the regular
IUHU ihart(,m"adf'Phla Stock Exchange
4 TeleAlnh 0nal Ame-'' Telephone
lel8raph convertlblo 4u.
Erie A n
frths firm ' . S!.rn nas withdrawn from
t ' .iini, Morris
& Co.
The.,
Tun.it ?.3'arnln? of u,e '-hlh Valley
'CeJlT"?, " 1A.u,u,t wro J'79'031'
Wlnih.! Urse,t b1"""" 'or any
" m C, ora?a"y history. Oper-
dne th. VI.' J,'H a decrease of J2373,
S5'a. tg.ins? L ,aj;nlnS 'or the month
JhtrV I, . J'1'7' an ncrea of 154645.
.? Oro,,;tanee for the month of
, a-. Z'll?'0' nth wero
HUut "87i ,1'tU'W3' "d net, J957.76:',
Manufacturers in This City and State
Certain to Benefit,
American hosiery, CO per cent, of which
la produced In Pennsylvania, In the be
lief of experts, will be greatly benefited
by the European war. Whatever benefit
does result from the "Made In America"
Idea In hosiery, the eastern section of
the State and Philadelphia In particular
will experience the Rood results. Ninety
two per cent, of the State's hosiery mills
are east of the Susquehanna, and the
output of the Philadelphia factories com
prises 70 per cent, -ot the total production
in the State.
The question of dyes for stockings, deal
ers say, will take care of Itself despite
all talk to the contrary.
NEW YORK CITY LOAN" DEPOSIT
Hankers In this city understand that
within the noxt few days a call will be
made by J. P. Morgan & Co. for
the second instalment of the city loan
from the banks and trust companies In
New York who participated In the under
writing: syndicate. Tho amount that will
be called for. It Is believed, wjll be in the
neighborhood of J1.000.QOO.
BAR SILVER
The price of bar silver advanced t to
61V4 cents In New York and MS to S
pence In London.
TOLEDO, PEORIA ANI WESTERN,
1014. Dec.
Second week Sept $28,03.1 JI.746
From July 1 2SO.nn .... 14.128
WADASH-PITTdnURClH TERMINAL.
1014. 10KI. Do-.
July Gross ....$nfl,M7 Jir100 fr).4M
Net after taxes. 30,113 22..1D0 7.515
Increase.
MISSOURI. KANSAS AND TEXAS.
1011. Dec.
Second week Sept.. S7.47! 1,87:
From July 1 .f,Ofl,i:i4 J222,(100
LOUISVILLE AND NASHVILLE.
1014. Dec.
Perond nsek Sept l,rm2.705 $i:iS,l.V
From July 1 11,(171.001 MM.KIU
MOBILE AND OHIO
1fil4. Decrease.
Sccon & week Sept J220.278 $30,1112
From July 1 2.WKI.74T 0,201
GIWROIA SOUTHERN AND FI.ORIDA
101 1. Decrease.
Second week Sept X41.201 fl20
From July 1 4H.1.S.1.1 .7,871
TOLEDO, ST. LOflrt AND WESTERN
1014. Decrease.
Seinud week Sept 1101,0711 sl.i'Kt
From July 1 1,87.800 33,3511
ALABAMA GREAT SOUTHERN
1014. Decrease.
Second week Sept SS8.77S 5,oin
From July 1 1.021.778 .17.150
CHR'AOO, INDIANAPOLIS (c LOUISVILE.
Second wuek September... I4.1.W0 $11,100
July 1 to epiemuer 1 l..-.n,lin
COLORADO AND SOl'THERN.
Second week September. . , $273,503
July 1 to September 14 V.7M.S.M
DENVER AND RIO ORANDE
Second week September. . . $507,000
July 1 to September 14.. . M77.tOO
ORAND TRUNK.
Second week 8ep,ember...$l,uofl,OI2
July 1 to September 14 11.702,812
ST. LOUIS SOUTHWESTERN.
Second week September... $202,000 $..2.COO
juiy 1 10 September n. . .'.ju.uijo
TEXAS AND PAf'IFIf.
Second week September... $308,712
July 1 to September 14 3,520,105
WESTERN PACIFIC
Second week September... fLIS.KOn
July 1 to September 11 i..ioo,mio
DETROIT AND MArKlNAi
Second week September. . . $23,24.1
July 1 to September 14 210.317
Increase.
Syndicate Film Company, Initial 7 pr cent,
on both clauses of stock, paynble October 1
to stock of record September 20. There was
also cnargmi on 10 depreciation Jl.'.ou.
Canadian Explosives, regular quarterly 11;
per cent, on preferred, payable October 15 to
stock of record September .10.
Canadian Consolidated Rubber, regular quar
terly li per cent, on preferred and 1 per cent,
on common, payable October 1,
Ottawa Light, Heat and Power. Ltd.. regrular
quarterly S per cent., payabla October I to
stock of record September 20.
American Seeding- Machine Company, regu
lar quarterly of l', per cent, on preferred und
I per cent, on common, payable October 15 to
stock of record September .Hi.
Hid. tAsked.
. .20.67 20.87
17.83 '17.R.1
20.55 t20.87
SENATE EXCUSES GALLINGER
WASHINGTON, Sept. 21. The Senate
unanimously voted todny to excuse Sena
tor GalllnBer, of Now Hampshire, the
Republican leader, from further atten
dance during the remainder of the present
session. Senator Gallinger, who has gone
to New Hampshire to campaign for re
election to the Senate, has been In at
tendance In the Senate constantly during
the long summer months.
Builders Declare Business of
1913 Largest in Trade His
tory Convention to Meet
in Atlantic City.
MINING STOCKS
Quotations hero today wero ns follows:
Jim Butler 11s jj7n
1 est End i;.- r,, 117
Tonopah Merger lm fluii
North Star 1,1 ,17
Midway id Jis
Mizpah ihujj in
Ti.r.opah Extension 2'4fi2 5-1
Golilfted Merger 0 Mil
Sar.dstrom 5 , ;
Nevada Hills is fl:n
CONDITION OF U. S. TREASURY
WASHINGTON. Sept. II. The condi
tion of the United States Treasury at the
beginning of business today was:
Net balance In general fund, $11S,G21,
230; total rocelpts yesterday, J2.S31.6M;
total payments yesterday, $3,038,312.
Tho deficit this fiscal year is J17.Hj.SW,
ngalnst a deficit of J10.765.SOO last year,
exclusive of Panama Canal nnd public
debt transactions.
CONDITION OF REICHSBANK
NEW YORK, Sopt. 21. A wireless mes
sage from Berlin Hays that the specie re
serve in the Relehsliank last week In
creased 41.000, COO marks and the circula
tion notes decreased by 5S.COO.0u0 marks.
SPOT COTTON TRADING
NEW ORLEANS, Sept. 21.-A notice was
posted on the Hoor of tho Cotton Ex
change here today that tho market for
spot cotton would be opened on Wednesday.
PHILADELPHIA MARKETS
GRAIN AND FLOUR
1 1.713
J31.340
3U7.10.1
(04.0011
300.000
1(7,011
077,010
3S9,UOO
$40,31.1
09,370
II. 200
156,400
1122
3.1.U54
i.e. Bicau. lar IOIS, III expon ele-
J. 2 red, spot and September. ll.l'Jft
2 red. Weitrrn. I.1'(1.21. No. I
Duluth. $1 27fll .12
MHI.'AT. Receipts, 17.000 luish There
was 11 mlr Inquiry from both millers and ex
porters, hprliis wheat was lc. lower, but
winter ruled steady, far lots. In export tie.
....". , .u, itrti.
'It. .O.
Northern
CORN. Receipts. 4048 bush. Demand
fairly active und prices lc. blither, under iliilu
offerings. Car lots for local trade, us to
location: No. 2 yellow. ',0Wl. ; steamer,
yellow. SSSSSUc.
OATS. Receipts. 30,232 bush. Market
strong and i,c nliiher. with fair demand lor
local consumption and export No. 2 white.
n.ltl.l31ic.. standard white, StMifi.lc. ; No. 3
white. 541f.14t4c
ri.OUIt. Receipts. 1500 bhls.. 1. 828,250
lbs. In sacks. Trade slow, but mill limits
nrmly maintained. Winter, clear, f I 75'a5; do.,
straight, ,1.1.23; do., patent. .1.40'rf5 75:
Kansas, straight, lute sacks. ,1.20ft,13); do.
Intent, Jute sacks, 3.0nS5.00: snrlne. first
clear. 3J)0.25: do., straight, .V3Mi5S0: do.,
patent. 5.oort: favorite brands. IH.25no.75,
city mills, choice and fancy patent. J0.2s4jfl.75
do., regular trades Winter, clear, si 7.ir,.i
L,va,li, Kfl, Kit. .... ..... . ...... ' '
..la.Hi.b, rj... hi,., i'meui, f.,wiril.
Rico, I1.2.V?.- '.M; Florida. ;i2.50. rranbtr
Hes. rape (!od, Early Rlack. per bbl.. ti.rnifift.
'JaJlHSIr''". "'"P ilnd. Early Rlack. per crate.
ti""...-,,..-cra,nbrrl' Jersey, per crate-Dark.
f,L';'."-r;:i, "Kh.!- l'"l--"- Huiklet.errles. per
'V J1'. ?i'J-' Parties, Virginia, per 20-11..
basket. 2565.1c.: do., do. per eiat... 75c.Ml..Vn.
do., Delaware and Maryland, rer basket, 2M
i:Lc'; u?" '!0- l'er crate. 7oe.jtl 2.1: peaches,
1 ennsilviinU. per basket -l-arce. white or yel-
.' ;..i.i. ' """". " "". : peaenes. J'
1l' J",,,l,7 l,rr -lilt;h' I,
Tha Impression has gained currency,
becauso of tho popularity of the auto
mobile, that carriages are no longer
manufactured In very great quantities.
Yet tho commltteo on statistics at tho
convention of tho Carriage Builders'
National Association, which meets In
Atlantic City, N. J., September zSth to
October 2d, will show that considerably
over one million horse-drawn vehicles
wero built In this country last year.
Large as la this figure. It does not In
cludo business, farm or trucking wagons,
but takes account only of such vehicles
on tho buggy, surrey, and other light
carriages.
Statistics show that there were made
on an average of a million to a million
and a quarter horse-drawn spring ve
hicles each year for eight years prior to
January i, 1913, nnd during the year
1913 the number exceeded 1.200,000. These
figures, which are partly due to the In
crease In population, naturally Inspire
confidence In the present and the future of
tho carriage and wagon Industry.
It Is fair to assume that tho vehicle
product of 1!)13 wns sold for more than
$60,000,000. A minimum of J35.O0O.O0O It
Invested In carriage factories In this
country, to say nothing of the enormous
capital Involved In the wagon business,
while the Investment In manufacturing
establishments making materials and
parts exclusively for horse-drawn ve
hicles Is probably as much more.
Tho coming Atlantic City convention
is the 42d to bo held by the vehicle men's
organization, which was Instituted In
1572, making It ono of the very oldest
trade bodies In America. The associa
tion does not fix prices nor take any
action In labor matters; Its functions
nre mainly directed to the uplift and
advancement of the Industry, nnd to the
promotion of a friendly spirit among its
members.
The Carriage Builders' National Asso
ciation has been favored In past years.
at their conventions with the presence of
a number of prominent men. who, al
though not In the vehicle buslnefas, never
theless were pleased to address the car
riage builders on subjects of interest to
them. Among these men have been the
Inte President McKlnley, General Wil
liam Tecumteeh Sherman, Oliver Wen
dell Holmes, the poet, and others of
almost equal fame. This year, Hon.
John Barrett, director of the Pan-American
ITnion at Washington, and formerly
United States Minister to several South
American countries, will address the as
sociation. In connection wTlh the convention there
will be held an extensive exhibition of all
materials, parts ad machinery used In
vehicle building, which will bring to the
attention of the 1200 delegates all that Is
new In theso lines.
There Is much room for optimism In
the carriage buslneftj nnd It will be a
contentfil nnd enthusiastic gathorlng of
prosperous manufacturers that will crowd
tho Million Dollar Pier at Atlantic City
during the last week In September.
RAILROADS URGED
TO ADOPT GREATER
EFFICIENCY PLANS
Roadmasters of Country
Want Motor-driven Ma
chinery to Supplant Old
Hand Methods Say Sav
ing Will Be Large.
Larger application by the railroad of
the country of scientific efficiency prin
ciples In their equipment departments la
being strongly urged by the Hoadmasters'
and Maintenance of Way Association of
America.
Statistics compiled by the association
show that while the weight of tracks used
by railroads throughout the United States
haB Increnned but 37 per cent. In the laat
20 years, the unit load hauled over the
tracks has In some cases Increased more
than 300 per cent
Increase In the weight of track h
necessarily called for the employment
of moro men to care for the track under
the heavy loads which it Is required to
carry.
Tho association recommends that motor
driven machinery and tools be used by the
railroads so that a larger amount of
ground can be covered and better care
given the maintenance of tracks.
Toward the Increase In efficiency, use of
section motorcars Is considered an Im
portant part. It Is pointed out that where
motor drlvon mnchlnery Is used It will
result In a saving of 2 cents n mile, the
cost of fuel to tho motorcars, repairs, de
preciation and wear of car and time ot
the men. In view of this It Is recom
mended by a commltteo reporting to the
association that motor driven enra be used
Instead of handcars.
Annual convention of the American
rtallwny Bridge and Building Association
will be held In Lob Angeles October 20,
21 and 23.
Preliminary hearing on proposed
changes for the next classification Issue
will be held In New York tomorrow by
tho ofilclal classification committee.
Alton, Jacksonville and Peoria Inter
urban line, now owned by a company
headed by J. C. Van Riper, of St. Louis,
has made application for permission to
Issue J730.O0O of stock and 1500,000 bonds.
The Illinois Public Service Utilities Com
mission has the application under con
sideration. Baldwin Locomotive Works will bull3
one Mikado type locomotive for the San
Pedro, Los Angeles and Salt Lake Railroad.
STILL CURTAIL DIVIDENDS
Because of business depression, Influ
enced by the European war, eight com
panies either deferred or passed their
dividends and three companies made re
ductions last week.
Among tho companies that passed their
dividends were the Republic Iron and
Steel, on preferred; Xova Scotia Steel and
Coal, on preferred and common; Crucible;
Steel Company of Amerlcn, on the pre
ferred; Central Coal and Coke, on the
common; Calumet and Arizona; Superior
and Pittsburgh; Harvester Corporation,
on the common, and Augusta, Aiken Rail
way Electric, on the preferred.
American Express Company reduced Its
dividend from 1H to 1 per cent.; Standard
Silver Lead Mining from 2 to 1 per cent.,
and Old Dominion of Maine from 1 to 25
cents.
LOCAL BANK STATEMENT
Increase During Week of $3,212,
000 In Reserves.
Tho weekly statement of the Philadel
phia Clearing House bnnks and trust com
panies shows nn Increase In bank re
serves. The Increase during the last week
I amounted to $.".212,000, and brought that
Item up to ?S9.'it.000.
Both deposit Items also show very
marked gains over the previous week,
individual deposits $1,000,000 and deposits
of banks $2,117,000. As was tho case the
previous week. Clearing House exchanges
last week fell off again, showing a de
crease of HSt.OTO.
NEW YORK BUTTER AND EGGS
NEW VORK, Sept. 21 BUTTER Re
ceipts. COS! packages; tone lower and un
settled. Creamery, extras. S0!-.?J31c.:
creamery, firsts. 2S030c; held, extras, 30
no'so.
EGOS Receipts, 0208 cafes; tone weak.
First pothered, extras, 2i?fi27c. ; firsts, 2i
i23c. : refrlgerntor, firsts, 2IfI25c.
COMPANY CONTESTS MANDAMUS
per H-hakel, i
40c.HH : Jo., do.
iil. 1'eare. nenrbv,
do.
LIVE STOCK QUOTATIONS
i-lltOAGO. Sept. 21. -- IIOOS. - Hecelpti,
2ii.ua); market itrong: mixed und tut.-hem
$S.SOti0..vi: k'uod hiuvy. fVll.lijU.J.l. tough
heaiy SH;.'Wi.H.83; NkM. SS 7500 So: pigs.
I3.JO20.S0: bulk, JH.2WjS.SO. tfATTl.K-il;c-celi'K.
21.0HO: market atcady to 10c. higher;
beeve, ;7.:M11; i-om and he.rer. $Wotj3;
Blockers ind reedera. fO40&3S: Tenana.
17 Miah.K!".: ealvea. III.HKI12 2.1 KI1EK1'.-He-celptf,
IS7.CM); market 10c. to Wc. lower; na
tUe und Wetlern. Ki.UttO. lamb. 3 7J88.75.
HYK FI.IllTIt. llnl.,1 r.,U-
$55.W per bbl., In .o.l.
PROVISIONS
lobbing
but quiet, at
movement
ami
n prices (-ry beef. n
ul alr-drled. IllH.T.V. ; Western beef
little
sem.
40'
.rapes, .outnern Delaware!, per larrler.
o.ic. ; erapea
SUGAR
aiar.Ket sieadv. but uulet sian.lar.1 r.in.
7..TV.; line granulated. 7 23c. nowder.
confectioners' a, 7.l5e. ; oft grudt-s.
ulated
aH T (..
U.-5VT.'o3e.
DAIRY PRODUCTS
hn?ULT?ilil"'7:3u.let nd weak, with modaratt
but ample offerings. Waatern fres,h. nolld-
packed, creamery, fancy specials.
.i.e. ; extra llrats. ale. : rtri i f.t-im.,. .
aic.
extrw
BANDITS IN AUTOMOBILE
ROB BANK IN CHICAGO
Shoot Assistant Cashier and Escape
With S3000.
rilUWno. Sept. St.-Four automobile
bandits held m the Franklin Purk State
Hank nt noon today, fatally wounded
Walter Jos, asststnnt cashier, nnJ es
caped with what money they were able
to sweep Into a sack from the cashier's
cage.
The exact amount of the loot will not
bo known until after nn Inventory is
tnken. but it Is estimated the amount
was about fc!urf).
The robbery wm committed by three
whlto men and a Ncbgro. who drove up to
tho bank In a five-passenger automobile
a few minutes before nonn.
A light
change In
niiuKort am
in sets, imoked. .llUSSc: city beef, knuckles 1
iiu irnucrs. ainnaea ana air-uncl. .l't.'i. .:
eitem beef, knuckle and tend. n. smoked. 32
.Ho.: beef hams. HOff-M pork, family. f?ilu
II. llami. S. I', cured. Icote. Ui,fUii4c. : do
Ulnned. loose. 15V6 WtO: do., do., tmoked, ISO
19c; other hams, smoked, city cured, as to
brand and aterage. l'lc . hams, smoke 1.
western cured. IS-BIDc: do. tolled, bone
less. 2S32!ic : picnic shoulders. S. 1. cured.
tciit, ISfiU'lic . do.. smoked. llfil',;
bellies. In pickle, according to averaze. loose.
10t21Kc. . breakfast bacon, as to brand and
average, city cured. 22831c : breakfau
bacon. Western cured. 22824c; lard. Western
retlned, tierces. UMilt'4i'.: do., do., do.,
tubs. UVjiHPKc.: lard pure city. kettle
renacrca. in tierces. iifffisc. : lard.
city, kettle rendered, lu tubs, 11V912C
seconds. 27Ml2Mac- , ludle pa.ked. vlifclilc,
juuniy; nearby prints, fancy, 33c; do.
average eMra, a.')j,'Hc. ; do., ilrsts, Ilon.T.'c
lo., seconds 27j2Uc. Special fancy brands
w" , .'M..,h ll .lUtiC
pretty well
un.it, ra. t ,. ..
free, cases, nearhv x,,,, ni I
nearby rirsts, Ji.-lo per standard
hUO.I, strictly flii fresh eggs pi
clear up at full iigure. but un
stock dull. In freo coses, nearby Vi
per iloi. ;
pure
VEGETABLES
case; nearby current receipts, 7;5ut7.i,u pet
standard iase. Western Sxtru nru. ."
per case; do flrsi,. J7.30S 7.S0 pir ciso; do '
seconds f u.iu, ti.oo per case. Candled and
VIENNA GOVERNMENT ACTS
TO STOP FINANCIAL PANIC
Money Is Advanced to Insolvent Con
cerns and Moratorium Proclaimed,
VIKX.NA. Sept 21.
An emprcenev tmunitni u i.nin.. .-
ner rnv r.ai-., ..., . . . .:..'":r""' 'M "-."fa .TOiCM
ret-rated ireah i.. . ,",,.., :"." "r . .." ' cost of j;iun by tho tnnnioi,. ,n,.
37c per ...a . us tL Ju.Tirt- "r ""' "' " Tills will be used fnr ti, t.Z:. V- . fi
. .J.HI.hhh. -The murket a shade firmer. Infectious diseases. Dozens of buildings
&S iVPVuiLwJl&Jl&' ave be converted into ho,piturS
fair 10 Kood. liHfeiiic. do w.T ikim, y "? c8Je . '"if soldiers, who nre
Denial Made of Stockholder's Charge
of Irregularities.
Denial of charges made by William De
Cou, Jr., a minority stockholder In a
petition for n mandamus, was made In
Common I'leas court today by the Mann
tawny Bessemer Ore Company. Stephen
Robinson. Jr.. secretary .ud treasurer,
and a director of the company made the
answer.
De Cou charged secret nnd Irregular
methods in the conduct of the business
nnd asked th court to compel the com
panv to allow him to examine all records,
in the answer the company contends that
De Cou's lawyer wanted to examine the
books for "ulterior purposes " The mm
pony holds that De I'ou may inspect th
records, but his lawyer must be excluded.
CAMDEN MAYOR SUMMONED
He
1 being brought here from buth the extern
j ana southern theatres ot war for treat-
i,i-ti
du ,
Market dull and rotstoea and cabbage
1 ' " ! w( jiti k'uii.-i vuiiiv 1 1 r J1.' , v-. . uu , Kis;ain; ltlT 104
XOHK1U-N fcXUHANGE s.v White iotatoa. Jersey. tr fcUiVi. ih . 80c.. old. 5v . Dickon. nr ,..?. i-T c?pwcc
....... I..-.-.1.... .. . . - tf-IV- Hw.l nntilnit Vamtmm Gk, . ...l . v
xb" xuuiv. oepi. zt.-wie roroign ex. fbi -so i it fjis fi"' No s ih si
change market is unlet, but displays a potatoes. North Carolina, ier bbl. -No 1.
firm tone. Steilmg l.au and cable trans- I l 'v-; WA- "i. ,sf vSt:nJSSSii potatoes. Jer-
y. vv ..v , f .j4 .),); jo. i, i p'1'4
POULTRY
m,. -pull snU unchanged. Poln. it
mi, urjfe. l.iMK- do. medium iyu ir.. '..tmrtni-u
lrt.t .111. t -.11 i i . . "V "! mvg s.ukT
w.. utf, un.. 1,111141.. ,,j rln - Ufl . is. . .... --!':-.-- ? isuuii
k-uiiieas. p.r yalr. younif. we iKhiu -1 M. SVl D81 lo iiifnten. This has been aceen.
, Kcirning 1'jSI. ib.
!.; oM nwster.. llu ic. snVm-1 , m t.., ' . There Is a feeling of de.irnBi i
rue. 17&18.-.- ,!S n,HT,.r".,.!"'5Vr.' 1 .... ......... .C - --, "".ii m, 5iraiu
Ju.ks. ul.:. 1.K114T.. '; .;T: "TTA.. , )l:i."- "V"." "" government i doing
fers to 4.96. Cable franca are quoted 5.12
and nominal (juotatlons for mark cables
are 95?iC.
BANK CLEARINGS
Dank clearings today compared nltti corrs
sponjinr day last two years
1914 1913. 1012.
Philadelphia IIS a.ia 3.V1 Kt.lfin.ua ISI.S13.27T
Boston '. H.eaS.SSl 17.SAJ,775 lS.3ttl.TSi3
New York IS.TI10.(W4 226.70S.O74 J1D7.T73..W1
W Louis . 1'.'.751.1M IH.S37.3U 13,94,7
Chicago .. 4S,KX,5S! 61.4W.U7 61,118,004
sev.
1 ,3. sweet potatoes. Jersey, per basket 40
50c. Onions, Western and Connecticut Val
ley, choice, per lro-lb. baa $1 lol SO: do .
medium, per 10O-lb bag, fl. Cabbage, do-
iiie.i.c. per ,on, ivii. i fiery, rsew ork,
Let uuit.ii. ivranvu. &i
tasket, ooc sjji m
luihrooDi, per 4 -lb'
FRESH FRUITS
Apples more plentiful and easier. Other fruits
generally steaay. Apples, per bbl iraveu
steln, J582.S0. Blush. 41 Tig.M oiher good
eating varieties. 1 Tftf.M. medium. 1 M4
8 applea, Del., per hampar, SO3a0c l,emirs,
per bo. 334. Plntapplea, per crate Porto
lllir.St;i) Ueslrahla iivv u..n , ,
up i(d mm. Presa-kilh,.! 0wl,, lltr lbse
lected l"avj. Sa.: lati-. helghmn i,yi
ll. apiece k-.m ,c ; uelshlns 4 lbs. aple, M?..
Jjelgninit 3is lbs. apiece. ITal.Sc : ,iiSi j
. and under arie. itv ; old rooirrf dry
picked. lT8c., Iroltlns chukons. near bj
woigidng l55 Iba. apiece. lBS'.'Oo., do., fair
10 good. tirlSc; chickens. Weatern, SUffii
lbs. anl cr aplrce. IDc do., do. JUa lbV
apiece. 16-vlTc . broillnc chickens. Wettcrti
weighli.B 1J lbs. llglR.- . do. fair to
lood ISailk-.: muabs I .loj . wl.lt. uenh
Ing HSU lbs. per doi . $4 I.' 4 Ml hlle
ne Shins WtO lb, per doi JJ83 73 while
weighing S lb per rtoi . ft t'li'i &u . u ,lo
T Iba.. pet doi fl 7SJ2, do., do . Hu' lbs,"
tuAted by the financial and imliutroi
paralysis.
THE MONEY MARKET
NEW YORK, Sept. Jl.-l'.indltlons 11.
the money market reflect mi Improving
tendency. N'ot only U theru a, potter
feelltiK prevaillnb-. but lender- arc sume.
what Inclined to itrant accommodation on
easier terms. Call money appears to be
shifting to a 6 per cent, basis for re
newals. F01 time advances borrowers are bid
ding 6 per cent, but lnktliiultm. how
ever, are still insist ng on 7 tu S iwr .-nt
for various maturities. There Is. how
ever, virtually no fixed rate lending
Must Tell State Health Board Why
Sewage Plant Was Not Built.
A "summons to appear before the State
Board of Health, at Trenton, on Sep
tember H. has been served on Mayor
KUis, of Camden, that he muy explain
why the State should not take action
because of the city's failure to build
sewage dibpusa! plant in compliance with
the order to that effect Issued In 1910.
According to the terms ot this order the
city was to h.ivo completed such a plant
bfefoit, .September 1. 1913. Two plans, one
drawn up by City Knitfneer Farnhum and
another by Street Commissioner Sayer.
were submitted, but neither was approved
bv the board. The city then awaited sug
gestion) from the Hoard of Health, but
none wns given and the date for the com
pletion of the plant pasted without any
steps being taken toward lt construction
City Solicitor lileakly will represent
Camden In the coming Inquiry.
NAVAI, STORES POOL DENIED
WASHINGTON, Sept. 31 - Utorney
General Gregory today made formal de
nial of repoits that dealers in naval
stores have foimed a combination with
the appioal of tin Iiepartrnent of Justice.
ANNI'.W. MKKTIMiS
1.2? MAIIMOIII M5I.N roil. AMI IliOV
- ( (. drurrul OlrJie. Heading Terminal.
The u.inua! meeting of u . kholJ-r
and au 1. Hon f..r five IHre, tors t s'r
(or the cuauiug vear will be held under t
Charter of Ibe i mis- . un.l Ir . ,.1 f..rmll .
"lib tin- t.vlaws jt tu ottba Heading Tr
'.'i'.1.'' . 1'bllaUleHil.i ,.u Moi'dar. Ilitobe
13th. 1911. a I II 1.1 uU.uk a. m.
W. O UKOWX. Sair.tary