davidaulloa/AmericanStories huggingface dataset:
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1914-11-18
FINANCIAL BRIEFS

Announcement was made today of the
opening OF two stock exchanges. On De-
cember the Los Angeles Stock Exchange
VIII reopen for unrestricted business.
while the Cleveland Stock Exchange will
reopen on Monday with restricted trading
In stocks other than those which are
local there.
A meeting will be held In Ogden, Utah
OF the Amalgamated Sugar Company ana
the Lewiston Sugar Company on Decem-
Der 19sto vote on consolidating the cor
porations under the name of the ANAL
samated Sugar Company. The AmaIpa-
mated has an authorized capital OF S4O :
900 ana the Lewiston capital OF 81, 900 900
Samuel 7. Freeman 4 Co.. auctioneers
will resume their weekly auction sale of
stocks and bonds subject to the rulings of
the special committee Of five of the Phil
adeIphia Stock Exchange on Tuesday.
November "A.
New York banks lost to the subtreasury
yesterday sSsl,OOO and since Friday have
lost TYo7S,OO0.
An order for three contractors iocomo-
tives and two locomotives for export of
the Santa Fe type have been received by
the Baldwin Locomotive Works.
The annual meeting OF the stockholders
OF the Lehigh Valley Railroad will be held
on Tuesday, January 10.
The Kensington National Bank has re-
tired $4,000 emergency currency at the
subtreasury.
Banks in New York yesterday retired
emergency currency 10 the amount OF
Sl.7050 900. This makes the total retired to
date S5s s7s.s7O. out OF the maximum issue
OF about s140.OOO.0Oo.
A New York Cotton Exchange seat has
been purchased from a member OF Dick
Brothers & Co, by S. b. Chaplin & Co for
$500. an advance OF $500 from the last
previous sale.
The Government will issue a report on
cotton ginning at 10 a. m. November 81
The report viii show the amount OF cot
ton ginned to Novembef a.
It was learned in New York that the
German fire insurance companies are or
Eanizing an association to adjust all
transatlantic business outside Of the
United States, which win render them in
dependent OF the fire onices committee OF
London.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1914-11-18

last named having been IN Buenos Aires
since August !. attending to preliminary
details. NJ y. Carroll formerly Of the
Philippine Tariff Commission and fot e
number OF years engaged IN developing
commercial relations IN Porto Rico. is D.
charge Of the commercial Investigators
to be undertaken by the bank IN behaif
OF the business interests Of this country.
A. V. Edwards. Of the credit department.
Of the National City Bank, Is in charge
Of the credit bureau for the purpose o.
furnishing credit information to ex-
pcrters and importers
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1914-11-18
PHILADELPHIA MARKETS
GRAIN AND FLOUR

WHEAT.-Receipts, 1O1,70T bush The
market ruled steady with fair export inquiry,
but but demand man from millers was light. Quota
spot and November. S1.136i .16: No. 2 red
Mestern, SllS91.2l; No. / Northern Duluth,
81 .24kdI.2Th.
CORN:-Receipts. 5Oo2 bush, Trade was
quiet but prices were well maintained. QUO
tations: Car lots for local trade, to location
NO. 2 yellow, old, Si9SiL2c; steamer yellow,
old, S3haS4c.
oATs.-Receipts, 6s,s22 bush. Prices ruled
steady but trade quiet Quotations: No.
white. 54g54lzc.; standard white, 53do3lsc.;
No. white 52G52hc
FLOUR-Receipts, 1887 bbls. and 2,Ss3-
220 lbs. In sacks. Market quiet and without
important change. Offerings moderate but
ample. Quotations per 1O6 lbs, in wood;
Winter clear, S4.I5d4.oO; do, straight. $50
5.25; do, patent, S55Od5.T5: Kansas straight,
Jute sacks, 5000 80: do, patent. Jutc
sacks. S.40n5OJ; spring, first, clear,
20. 1Oa5.3O: do straight. s5.35G5.G0: do.
patent S5.TOd5.0O; do, favorlte brands, SEQ
$50; city mills. choice and fancy patent STA
ESQ; city mills, regular grades--Winter, clear,
S4.15qi.90; do. straight S5q5.25; do, patent,
$b50d5T5.
RYE FLoUR.-supplles small and values
firmly held. We quote nearby and Western,
In wood, at 50. bOdB
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1914-11-18
BRANCH BANK IN ARGENTINA
SURPRISES SANeuINE HOPES
Word From Buenos Aires Gratifies
New York Finanoiers.

NEW YORK, Nov. 1s-word has been
received here by cable by officials Of the
National City Bank Of the opening Of the
branch OF that bank In Buenos Aires.
Argentina, on November 10 and the
favorable outlook for business for the
branch in that part OF South America
In fact, although the branch bank has
beer open only n little more than one
week the outlook Is far more encourage
ing than had been anticipated Argen-
tine bankers are showing every possible
courtesy and assistance to the Amer
leans who are in charge Of the new or
ganization and express every confidence
In the complete success OF the under
taking.
The opening followed the formal au-
thority TO establish tile branch. which
is the FIRST branch Of an American bank
TO be establish the branch. which is the
first branch Of an American bank to be
established in South America. The man
agcr Is John II. Allen, formerly man
ager OF the Bank of HAITI who, together
with Robert o. Bailey, formerly as
sistant Secretary Of the Treasurer OF the
United States and j. c. Marten. the two
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1914-11-18


The committee which will have charge
of the loan consists of w. G. p. Harding
and Paul NJ. Warburg, of the Federal
Reserve Board Albert H. wiggin, presi-
dent OF the Chase National Bank, OF New
York; James S. Alexander. president OF
the National Bank of Commerce, of New
York; James r. Forgan, president of tfs,
First National Bank, of Chicago; Festus
j. Wade. president of the Mercantile Ma
tional Bank, OF st. Louis; Levi l., Rue,
president of the Philadelphia National
Bank, and William A. CASTOR, president
OF the Shawmut National Bank, of Bos-
ton.
within a few days the committee will
meet and appoint state committees to
take charge in the various cotton States
of the matter of loans, and these State
committees will in turn appoint commit
tees in the various local cities and towns
in the cotton sections to take charge Of
applications and examine securities Of
fered All the members of the committee
will serve without compensation.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1914-11-18
TRAIN ACCIDENTS FEWER
Report Shows Decrease In Killed and
Injured on Country's Roads.

WASHINGTON. Nov. 1s.-For the quar-
ter of the fiscal year ended June 30 last,
steam railroads in the United States
killed 1O4 and injured 2157 persons, accord
ing to n report made public by the In
terstate Commerce Commission today.
Accidents to employees, to passengers
getting on or off cars and trespassers on
railroad property numbered 2o4O killed
and 1881 injured. Industrial accidents,
not involving train operation, but occur
ing to railroad employees other than
trainmen, numbered 2224 killed and 42,7S
injured
For the corresponding quarter of 1913
the figures show. for train accidents a
decrease of As killed and 1850 injured, for
other than, tain accidents. decrease
of 246 killed and 2s57 injured and for in
dustrial accidents a decrease of II killed
and 1855 injured.
The total number of collisions and de-
raiIments reported for the quarter was
PAS collisions and 2Ol5 derailments, of
which rs collisions and 176 derailments
affected passenger trains. The damage
TO cars, including clearing of wrecks,
amounted to $2,2S6.A3.
Defective roadway and defective equip
ment caused 1913 per cent. Of all the de-
railments reported.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1914-11-18
Rates on Fabricated Materials

WASHINGTON. Nov. 1S.-The Inter
state Commerce Commission today held
tension of the fabrication in transit"
privileges to the pressed steel car indus
try with respect to the steel underframes
for railroad cars The complaint of the
Middletown Car Company, of Middletown,
Pa. which sought these privileges, was
denied. A rate of two cents per 100
pounds additional to the regular rate is
allowed on fabricated materials when de-
construction.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1914-11-18
DIVIDENDS DECLARED

Texas Company, regular quarterly $3.50
paynble December 81.
American Gas and Electric Company. regu-
lar quarterly IN per cent, payable Decem-
har 10 stock OF record November 49,
FL Paso Electric Company. regular quarterly
SO o5 on common stock. payable December 10
10 stock OF record December 1 and regular
semI-annual SS on preferred payable January
II to stock OF record December -.
Cincinnati New Orleans and Texas Pacino
Railway regular quarterly TX per cent. on
preferred payable December I to stock OF
record November 21; also regular semi-annuRl
3 per cent. and 2b per cent. extra on COM
mon, payable December 10 to stock OF record
November %.
National Sugar Company. regular quarterly
Ia per cent. payable January to stock OF
south Porto Rico Sugar Company, rsgular
quarterly 2 per cent, on preferred and 1 per
cent on common, payable January to stUc
OF record December IL
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1914-11-18
COTTON MARKET LOWER
Trading Light with Prices OFF From
Closing.

NEW YORK, Nov. iS.-There was very
little trading In cotton today and the
market opened quiet and steady to 9
points under last nights close The de-
cline was in sympathy with Liverpool,
which reported hedge and trade selling.
Liverpool also sold In this market
II appeared that the large spot houses
were continuing to accumulate December
contracts on the decline. and after the
call sellers became more cautious and
prices rallied to points from the low
in the early trading At the end of the
first 10 minutes the list was 4 to Z points
net lower.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1914-11-18
FRESH FRIJITS

Trade quiet. but values well sustained on
choice stock OF most descriptions, offerings be-
ing only moderate, Quotations; Apples per
bbl.ZJonathan, s3g3.50; King $2 5Og3 2Si
ing. sl.Isa2. so; Twenty-ounce, S26On3; Pip
pin, H.75d225: York Imperial ki.75g2; other
l.S0; Crab s4d4.5O; Crab apples, per bush.
basket. 81. 5Od1.T5; apples. Western. per box.
per hamper, 50a6oc. ounces, per bbl:, $50
per box sI56ds Sol drspsfruit Fis Der boS
Sl.5oa2.25 Pineappes. per crate-Porto Rico,
81. 25Gf3. .2h; Florida, Sld250 Cranberries, Cape
cod EarIy BLACK per bbi.' 35064; do. do.
do per. crate. Slgl,40; cTanbsEEles Jersey, per
crate. Slal.25. Pears, New York, per bbl.--
seckel, s., 5Oa5; BeurTe Bose, S4d6.h0; Shell
don, S4d5; Beurre ClaiTgeau, S2.50d3. so; BeuTre
dAnjou $225d325; Duchess, S2d3; Howell,
s2d25O; other varieties. $2q5 Grapes, New
YoTk-Concord, per S-lb basket. 13G15e; do,
per 4-lb basket, i06i1c.; Niagara, per Alb.
basket, Sdllc.: Delawares, per Alb. basket,
l2gl5c.; grapes, Concord per 20-lb. basket, 80
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1914-11-18
PROVISIONS

,There was little trading and the market
showed no important change. Quotations: City
beef in sets, smoked and air-dried 20d3Oc.
western beef. In sets smoked. 29d3Oc.; city
pcef knuckles and tenders smoked and air
dried, aOd3lc. Western beef, knuckles and
tenders, smoked. 30d31c.: beef hams. S366T3s;
pork, family, S25q28; hams, s. p. cured, loose,
1l@l4Hc.; do, skinned. loose, 14al4Isc: do,
do, smoked, 15fD15Isc; other hams. smoked.
city cured, as to brand and average, i5Rd16c.;
hams, smoked, Western cured, 15hd16c.; do,
boiled, homeless, 20q2tc.; picnic shoulders, S,
p, cured loose, 11AIt2c.: do, smoked 13Go
13iac; bellies, in pickle, according to average.
loose, 16d1615c.; breakfast bacon. TO brand
and average, city cured 10000; breakfast
bacon, Western cured, 1gd20c. lard. Western,
refined, tierces, lOA@11c.: doS' do. do. tubs,
1OAg11c; lard, pure city, kettle rendered. in
tierces, loAq11e.: lard, pure city, kettle rem
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1914-11-18
CURB MARKET DULL

NEW YORK. Nov. 1S-The curb mar
ket opened duh and steady Lehigh VAL
ley Coal, 140G155; Tobacco Products pre-
ferred sOas3; Hegeman rights, 25a3O;
Anglo American, 14Xd15H; Profit Sharing.
l1kd1lh; British American, 159151A; new
stock, 16a16h; Maxwell Motors, 14dI4A
first preferred, 1905; second preferred,
7glsls; Cigar Stores. S9SaS% ;Hegeman
Corporation, 7Fs677s; Braden Consolidated,
5Hd5h; Nlpissing. 595h Sterling Gum,
4kd4A; Marconi American, 2Ad2'.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1914-11-18
WILL PROTECT INTERESTS
international Mercantile Marine
Bondholders Form Committee.

Anticipating that the international Mer-
camille Marine Company, which was for
meriy the International Navigation COM
pany Of New Jersey. will default on the
interest due February !, 1915, on the first
mortgage sinking fund per cent. gold
bonds OF the company, a protective com
been formed.
The action OF the bondholders I'm forming
the committee was caused by the fact
that the company deferred the october l
Interest on its ~ per cent. mortgage and
collateral trust bonds
The chairman of the committee is Will
liam p, Gest, vice president Of the FL
deity Trust Company, which institution
is named as the depository for the bonds
The other members of the committee are;
Secretary, T. Homer Atherton; T. De
Witt Cuyler, Samuel f. Houston Charles
ID. Norton and George s. Brewster.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1914-11-18
VECEI'ABLES

The market generally steady under moderate
offerings and fair demand for choice stock.
i2uotatioas: White potatlss, per bush
toes Jersey. per basket. s5q4Oe. Sweet Pota-
toes Eastern Shore, per bbl--Ho. 1, xl260
1.T5 No q 81 sweets. Jersey. per bbl.-Eo.
1, So 5043; No. 2, S1.50d175; sweets. Jersey
per basket. 100000. Onions, per bush. 45D
Soc do, choice, per lOO-ib. bag, f1aI1O; do.
medium. per IO0-lb. bag, sSGe0c; do, sec
onds. per 1O0-lb. bag. 50960c Cabbage, do
nestle per ton. S7ds do. Danish per ton,
sa81O Caulihower N. y. per crate, 65asoo.
Lettuca Fla. per basket, s1q1, so; do, N. O..
per basket S1ql.50 Beans, Fla, peF basket.
kta1 10; do, N. c., per basket, S1.T502 25.
Celery, n. Y per bunch. Isd35e. Mushrooms,
per 4-lb basket S1a1. 90.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1914-11-18
LIVE STOCK QUOTATIONS

CHICAGO, Nov. 1S.-HoGs-Receipts 20. 900;
markets 25c; lower; mixed and butchers, SIG
1855 good heavy. 81 ;3S9fa 80; rough oohss hssyE.
bulk, s5.So87.8o. CATTLE-Recslpts, II. 900;
markets l5c. lover; beeyes. S64oSl o.; cows
aT46; Texans, s74o9s. 26; calves. i7q11Io.
SHEEP-Receipts, 1900: markets weak: ma
tive and Western, $35od6.s5; lambs, $500
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1914-11-18
PATRIOT BRIT0NS EAGER
TO TAKE UP WAR LOAN
Over Subscription Expected for 81,
75o, 100000 Issue of Bonds.

DONDOINI NOV. ID.
Indications today were that EnBiand's
enormous war loan OF II, 100, 900 will
be Oversubscribed.
A long line waited outside the Bank OF
England before the doors were opened.
There was steady stream OF applicants
for the bonds. To raise the great loan
the Government is making the issue at
IS. bearing 3Ia per cent. interest and re-
deemable at par March 1. 1928.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1914-11-18
DIVIDENDS
THE WEST PHILADELPHIA TITLE AND
TRUST COMPANY

FnIIadaIphIa, NoFembaF o IlIa
The Board of Directors has this day de-
eiared 3 sEMI-AkNUAL DIVIDEND or
sIK (6l PER CENT clear Of tax. payable
nseembaE 4, 1914, 70 stoekholdera IS regis
tered On the books OF the Company AZ close
of. businass November Q. 1914
The Iransfer Eooks will be closed from
November 1tt 70 NeFsnlesr lfth. 1914
HALFH 4 LaYAazNG. ZEsaaasE
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1914-11-18
M'ADOO ANNOUNCES THAT
COTTON POOL is COMPLETE
Sixteen Cities Contributed to Big
Fund to Help South.

WASHINGTON, Nov. is.-The compile
tion of the big cotton loan pool is an
nounced In statement by Secretary Of
the Treasury McAdoo Mr. McAdoo was
notified by Kuhn Loeb & Co. of New
York. that the firm had agreed to
subscribe 100000, and Bernard NJ
Baruch, Of New York, who offered to
contribute s1.5OO,OOO was called upon for
s,O00O00. This completed the whole $780,
00O,OO0 of the Glass A certificates, and thus
assured the success Of the pool.
The following table gives a list OF the
cities and the amounts subscribed by
oh.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1914-11-18
BANK oLEARINds

Bank clsarlngs today compare with corrs-
spending day last two years.
Boston ..... $50 i81 TlT SCI sse $50 $40 6i8 ia
Philadelphia 2T67i 3s5 s2.oi7,sH 3s. .oei .Osi
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1914-11-18

BUTTER--Buyers were operating only
for actual wants, but receipts were light and
demand was equal to the offerings Prices
ruled steady. Quotations: Western, fresh solid
packed creamery, fancy specials. SIC; extra,
35c.; extra hrsts 33d34c. fTsts, 3Od3lc.;
seconds. 26q2sc. ladle-packed. 2l923c.. as 10
quality; nearby prints. fancy. 3So. do, aver
age extra, 36d3Tc.: do, frsts. 32q35c.; do,
seconds, 30q3lc Special fancy brands of prints
jobbing at 43GpIJc,
EGGS.-Demand for fine new-Iaid eggs
was fairly active and the market ruled firm
under scarcity. Quotations: In free cases, near
BY extra, +0c per doz.; nearby frsts, $1O.S0
per standard case; nearby current receipts
50. 90QlO.2O per standard case: Western and
Southwestern extra, frsts, SiO.S0 per case;
do, frsts S9.o0d10.20 per case do, seconds
81. .20dT. so per case; Southern, IS. 4OdfD per
case; refrigerator eggs, 21d2Tc. per doz., as 10
quality. Fancy selected candled fresh eggs
were jobbed out at 44d46c.
CHEESE.-The market quiet but steady
under small supplies, Quotationsiy New York
full-cream, choice, l5lko. do, do. fair to
good l4la6pl5c.; do, part skins, sa13e.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1914-11-18
REFINED SIICARS
DAIRY PRODUCTS

Trade quiet, but values firmly ,hald. REIN
ers' list of prices Standard granuia Jed. 5.15c.;
fine granulated 51Oc,; powdered. b.2Oc; con-
fectloners' A, &C.; soft grades, 4.25qfI S5c.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1914-11-18
POULTRY

LIVE-The market firm for desirable
stock, with offerings OF this description only
moderate. Quotations: Fowls. i2di4o. old roos-
ters 101ltc.; spring chickens, according to
quality, 124ilc.; turkeys. lSGt2Oc.; ducks, 1870
14o.; geese, 13814c.; guineas, young, weighing
lbs. and over apiece per pair. 76c,; do,
Weighing 1Iz91& lbs, apiece, per pair. 659TOo.;
Weighing / h. apiece, per pair. Soc. old, per
pair, SOC pigeons, per pair. 15Gisc.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1914-11-18
RAILROAD EARNINGS
sANADIAN PACIFIC.
NEW YORK BUTTER AND EGGS

NEW YORK. Nov. 1s.-BUTrER- Market
enzsttiedt recelpts, 1Iaz packages creamery
41tIz. sac htsh scoring 35G85ise.f state
r4lt4s 1&aic,f Imitation creamery. 2lisH2iito
taa1e Irregular, reesipta. 5Zl5 caless fraih
seft aelif4 oHelc nsarp3. mixed. 3t4
4-e.i Eezt azFa1.
Gilpin observer., 1914-11-19
WASHINGTON.

Resumption of parcel post service
with France has been announced by
rhe Postoffice Department
Brig Gen. Hugh Scott was selected
by President Wilson TO be chief OF
staff of the United States army.
There were 159 men killed in and
about coal mines in the United States
during last September, against 173 ii
year ago. according to a report of the
bureau OF mines.
The Catholic Extension Society oil
4 has assumed the task of
bringing Mexican priests and nuns
from Vera Cruz to the United States
on commercial liners.
An executive decree has been is
sued at Montevideo appointing DR..
Juan Carlos Blanco, minister of public
works of Uruguay, special envoy to
the United States, to return the visit
of Secretary Root.
The records of the State Depart
ment show that passport was issued
Aug. 81 last 10 Bridgman w. Taylor,
horn in San Francisco July 16, 1887.
He was represented to be an export
broker of New York.
President Wilson has sent to King
Emanuel of Italy the following birth
day cablesram: 81 beg your majesty
to accept my cordial birthday felicita-
tons and the assurance OF my high re-
gard and good wishes
With an optimistic picture OF Alas.
ka's future. Gov. j. f. Strong, in his
annual report, submitted TO Secretary
Lane. urged that the government ex-
ercise closer supervision for the con.
scrvaton of the territory's wealth OF
fisheries. pointed ont the need for the
construction Of a system OF wagon
roads and trails to supplement govern
mont railroads. and declared means
must be taken to stamp out disease
among the native population.
Secretary Bryan designated his pri.
vate secretary, Manton NJ. Wyvcll, as
counsellor OF the international Joint
commission. newly created office.
This commission has Jurisdiction over
the boundary waters between the
United States and Canada,
"A future clear and bright with
promise of the best things" was the
way President Wilson summed up his
view of the business prospect in let
ter TO Secretary McAdoo OF the Treas.
ury Department congratulating him
upon the opening Of the new federal
reserve bank system.
Gilpin observer., 1914-11-19
SPORT.

Princeton and Yale tied up in soccer
at Princeton, N. j., with a score OF
to l.
Benny Chavez and Gene belmont OF
Memphis fought twenty rounds to a
draw at Juarez, Mexico.
Stanley Yoakum has been matched
with Joe Madison for bout Thanks.
giving day in Cripple Creek.
Navy defeated Colby 81 to 81 in one
of the cleanest and prettiest football
games ever seen, at Annapolis.
Fred Treece, seventeen, quarterback
of the New Brighton. Pa. High school
foott all team. died in a hospital from
injuries received in football game.
Opening up after the first half di
versified attack that at times fairly
bewildered their heavier opponents
the University of Minnesota defeated
the University Of Wisconsin, IA to 3.
A fight between Jack Johnson and
Jess Willard for the heavyweight
championship was assured in London
wher Jack Curley. Willard's manager
announced the negro had signed ar
ticles.
School of Mines let loose the prize
football sensation OF the Rocky noun
tain conference at Union park In Den
to 2. in game filled with old-fash
ioued football and much failure at the
new style.
Gilpin observer., 1914-11-19
PRESIDENT GIVES
BUSINESS CHEER
EXECUTIVE SAYS COUNTRY NOW
HAS BRIGHTEST PROSPECT
IN ITS HISTORY.
RESERVE BANKS TO AID
EUROPEAN WAR BRINGS NEED OF.
MEASURES OF RELIEF TO
HELP OUT INDUSTRIES.
Western Newspaper Union News Service.

western Newspaper Union News Service.
Washington.-"A future clear and
bright with promise of the best
things" was the way President Wilson
summed up his view of the business
prospect in a letter to Secretary Nc
Adoo of the Treasury Department con-
graduating him upon the opening of
the new federal reserve bank system.
Fundamental wrongs once righted,
as they may now easily and quickly
be-" wrote the president, "all differ
ences will clear away. We are all in
the same boat, though apparently we
had forgotten it. We now know the
port for which we are bound. We have
and shall have more and more as our
new understandings ripen, common
discipline of patriotic purpose. We
shall advance and advance together
with new spirit, a new enthusiasm.
new cordiality of spirited co-opera-
ton. 1t is an inspiring prospect.
Wilson referred to the new tariff
law, the new currency law, the new
trade commission law and the labor
provisions of the new antitrust law
as the means through which the soil
has everywhere been laid bare out of
which monopoly is slowly to be eradi-
Gated"
He added that undoubtedly the
means by which credit has been set
free is at heart of all these things; is
the key piece of the whole structure"
Referring to the ''opportuneness" of
the currency law, the president said
'the war which has involved the whole
of the heart of Europe has made 1t
necessary that the United States
should mobilize it's resources in the
most effective way
He spoke of the difficulty of mar
keting the cotton crop of the country
and added that mo doubt in the light
of the new day, with its new under
standings. the problems of the rail-
roads will also be met and dealt with
In spirit of candor and Justice"