davidaulloa/AmericanStories huggingface dataset:
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1914-09-24
DIVIDENDS DECLAREp

Otis Elevator Company. regular ousrtsrrv
Ia Ter cent, on preferred and ~ Der cent
record September 80. 80" "
ESSton and Albany, regular quarterly q.
per cent, payable December 81 10 stock ~
re ord November 20. N VI
Union Natural Gas Corporation Of Pits
burgn, regular quarterly 2ls per cent navabIa
October IL to stock 81 record September an
Continental Gas ana Electric Companv n,
Grand Rapids regular w per cent. on pre.
able October l. F1'
Kansas Gas and Electric regular otrartsrr,,
~ per cent. on preferred payabIs Csrtohay-
l 70 stock Of record September 25 N'
Pittsburgh Coal Company, regular 1rlartcrr,.
Ia per cent. on preferred, pavsble O5t1t.r %
70 stock OF record October rs -
Union National Gas CORPORATION r.s,,,,
stnc at zs Pes cent PaySbs October IS 10
. virginia Carolina Chemical Coupany rsr,-
lar quarterly per cent, payable Noyembsy
10 70 stock OF record September 10.
beiaWare LagkawannA and Western reg
niar quarterly pa per cent, payable Octobsr
u 70 stock OF record October 3
Massachusetts, Gas Company, regular quar-
teEly ~ 20 share, payable November > 10
stock OF record October Is
Inc Hell Telephone Company OF PennsyIya-
Ma ma regular quarterly Ia per cent, PAYABLE
Cctoher 10 70 stock OF record October g.
southern Galifornia Edison Company regular
99aFteEly ~ 90 pa preferred, payable Ocfobsr
10 70 stoek or record September 80.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1914-09-24
FINANCIAL BRIEFS

Announcement was received here to-
day from Dallas, Tex, that the team
representing Philadelphia Chapter. Amer
ican Institute OF Banking, Won a unani-
nous decision In a debate over Gov
ernment ownership of telegraph and tele-
phones lines at the annual convention
of the organization. William w. Allen,
Paul r. Detwiler and Robert w. Fry
were the local debaters. They opposed
Government ownership.
From New York comes the announce
ment today that Charles w. Morse has
offered to form and finance n holding
committee to take over all the assets
of the National Bank of North America.
The Wilmington Trust Company. which
was appointed receiver for the Securities
Company of North America. has filed
bond for 81, ,0O0,O 900. The bill of complaint.
which was filed by Ward, Gray G. Nearl,
counsel for William d. Fell. a stock
holder alleges liability on the company's
certificates of 81, ,037 0O4. while loans to
certificate or bondholders were 1903 .23s,
leaving a net liability of s733,765. Cash
on hand and other assets are valued
at SSi7.O69
Edward NTH was today elected pres-
dent of the American Shiphullding Com
pany. Directors or the company decided
that because OF falling off in earnings
and present conditions as a result OF the
European war no dividend on the pre-
ferred stock of the company should be
authorized at this time,
Lewis Nelson, secretary of the Penn
sylvania Railroad Company, arrived home
from Europe on the steamship Olympic
yesterday, and is at his Office today.
The Norfolk and Western Railway
Company has filed with the United States
Supreme Court a brief seeking to show
that under present conditions the West
Virginia 2-cent passenger rate law is
Conhscatory and unconstitutional In
some quarters the attack upon the
validity of the West Virginia law was
taken 10 indicate a second general at
tack upon 2-cent passenger laws in vari-
aus States.
Lehlgh and Wilkes Barre Coal Com
pany for the year ended June 80, mined
and shipped 5,222S43 tons of coal. This Is
an increase of 34,l22 tons over the same
period last year.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1914-09-24
WHEAT AT CHICAGO
STARTS WELL BUT
WEAKENS AT CLOSE
Early Strength Based on Bet
ter Gables From Liverpool
and Small Receipts in the
Northwest.

CHICAGO. Sept a-Except for brief
period at tho outset wheat was heavy
today, becoming weak near the close.
Dulness was the chief cha haracteristIc.
The strength early was on better cables
from Liverpool and smaller receipts in
the Northwest
Considerable interest was manifested in
the heavy buying Of wheat. presumably
by foreigners, on the Pacific coast
Large quantities Of new crop have been
taken within the last two weeks in
Oregon and Washington. Since the be-
ginning of the war Atlantic America has
largely monopolized the worlds export
wheat trade.
Interior receipts today were 2,si0, 600
bushels, and for the week thus for 12,-
277.OoO bushels Seaboard flour clearances
today were 1900 barrels and wheat s23 900
bushels. Cash sales were 1856 100 bushels.
Futures closed Ia to "a, lower
Corn was A little firmer at the outset.
but developed weakness later Specula-
tIon was at low ebb Shipping trade was
equally unimportaut and the country was
selling no corn. Cash sales were 30, 900
bushels. Futures closed * to / cent
lower.
oats were quiet, finishing 7s to z cents
lower Cash sales were 5000 bushels.
Provisions broke badly after showing
hrmness early.
Leading futures ranged as follows.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1914-09-24
COTTON DEALERS ASK
DIRECT LOANS FROM
FEDERAL TREASURY
President, in Non-committal
Reply, Cautions Against
Setting Precedents That
May Be Detrimental in the
Future.

s. WASHINGTON. Sept. PA delegation
of cotton men from the Farmers Union,
headed by Charles S. Barrett OF Geor-
gia called on President Wilson today
and asked him to support Representa-
tive Henry's measure permitting direct
loans to cotton planters from the Unit
ed States Treasury. The President
took their proposal under advisement.
The cotton men believe that If they
can secure direct loans from the Gov
ernment 1t will relieve them of their
troubles. They think that in this way
the price of the staple can be main
tanned Among those who took part in
the conference were Representatives
Bartlett, of Georgia; Henry. Of Texas:
Hobson and Heflin. Of Alabama, and
Murray. Of Oklahoma.
President Wilson'S remarks to the cot
ton men were as follows:
"Of course need not say, gentlemen
that the gravity of the situation is very
manifest: and l want you to know that
7 have been giving a great deal of at
tsntion to It, with the earnest desire to
see some way by which the difficulties
could he solved without committing the
Government in principle to any action
which would plague us in the future.\
1.-THE danger of the present situation
is that under the pressure of what ap-
pears to be necessity we should make
some radical departures from sound
economic practice which in the future
years we would very much fegret. We
have got to make great sacrifices not
to make fundamental mistakes.
Now, l am not thereby implying n
Judgment as to any specific proposition.
but feel bound myself to guard against
impulses, when impulses are so strong:
just as / feel it so necessary for us in an
situation to guard every inn
pulse and see that We do not make any
mistakes which future generations will
have just cause to blame us for.
But / want, you to know how sincerely
I appreciate the gravity of the situation
and how entirely willing ] am to con-
slider anything that Is laid before me by
way Of practicable suggestion"
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1914-09-24
SITUATION AT HOME AND ABROADMAKEl
BANKERS SAY THERE is
NO MONEY H0ARDING HERE
Are Not Worried About Secretary
McAdoo's Threats Of Exposure.

No worriment is felt by bankers IN this
city because Of the threat OF Secretary
McAduo to withdraw emergency currency
from banks which borrowers declare are
restricting loans needed for legitimate
commercial purposes. The Secretary Is
insIstent in his declaration that many
large banks throughout the country arc
doing this sort of thing and he says ne
will make public the names of any such
Institution found guilty Of the practice
An executive officer in one of Philadel-
phia's largest banks this afternoon eN-
pressed the opinion that none of the big
banks here have even been suspected of
boarding and that so far as Philadelphia
financial institutions are concerned, bor-
ruwers who need funds for trade pur-
POSES are being afforded every facility.
Secretary McAdoo's plan to subject
such banks to a system of 'pitiless pub
lefty is apparently In good form" said
the banker. but there need be no fear
of the names of any Philadelphia bank
being put into the list"
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1914-09-24
BANKS OPPOSE PLAN
FOR REDUCTION IN
CURRENCY INTEREST
Say Plan of Senator Smith
to Lower Rates for Emer-
gency Money Would Hurt
Market.

Bankers in this city generally look with
disfavor on the bill introduced in the
Senate Yesterday by Senator Smith of
South Carolina, proposing to amend the
Aldrich- -Vreeland act reducing the rate
of interest which banks shall pay to the
Government for emergency currency is
sued to them on securities accepted by
the Secretary of the Treasury as col
lateral.
Senator Smiths bill proposes to reduce
the present rate, which Is 3 per cent.
for the first three months and II OF |
per cent. for each succeeding month unil
the rate reaches per cent. to
per cent. for the first months and after
that / per cent. for each month over the
months period.
1t is understood that Senator Smiths
bill is designed to meet demands of the
agricultural interests OF the South. es-
pecially cotton growers The present rate
OF per cent, these interests hold, pre-
vents the loan of it to agricultural peo-
pie who cannot get along without long
times loans.
Should the rates of interest on this
form of currency be lowered, bankers
hold, it would have an adverse effect in
that some persons finding that money
was comparatively easy to get would
be inclined to take it out even il it were
not necessary. The use of this money
should be discouraged as much as pos
sble, say the bankers, and the rates
should be higher than they are at pres
ent, so that The banks would want to
return the emergency currency as soon
as possible
"The taking out of much of this
money" said one banker, would result
in a lot Of fiat money being in circula-
ton. and pretty soon there would not
be any gold In the country with which
to redeem it. The rates should have
been kept at per cent. Apparently
there is no urgent need for money in
the South, or the bankers would be
perfectly willing to pay per cent
for it."
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1914-09-24
STEAMSHIP POOL WILL
DEFER ITS BOND INTEREST
International Mercantile Marine Says
war Has Had Disastrous Effect.

1t was announced officially today that
payment OF interest on the international
Merchantile Marine Company's ~ per
cent. bonds, due October /. VIII be defer-
red Directors Of the company have de-
cided that It viii be for the best interests
of its security holders. to. permit the
subsidiary companies TO conserve their
assets in view Of present disturbance In
financial markets. ...
An announcement by the company calls
attention 10 the fact that since January
I, 1914 business In both its passenger and
freight departments has been very IN
satisfactory. and that the company has
not fully earned its fixed charges for the
period which ended July 81. Under ordi-
nary operating conditions, It might he
reasonably anticipated that the deficiency
would be made up during the remain
ing FIVE months OF the fiscal year.
% The European war. however. has
brought the entire ocean transportation
situation to an extremely unsettled con-
dition and has necessitated the complete
withdrawal of the compay's Red Star
Line service to Antwerp The company
says it is, therefore. impossible to. form
any estimate OF what it's earnings may
be for the balance of the year. .
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1914-09-24
DAIRY PRODUCTS

BtTTER.-Trade very quiet and prIces
eeak UNDER general pressure % sell IVES .,ru
lIesh, solid packed, creamery. fancy. special.
Sc extra, Sic. extra frsts Roc: i-sts aS,
Sz"'7c' seconds. 2Ga2Tlsc.. lRdle- pa ked glT
&c as 10 quality. nearby prints. fancy "a.
40 average extra. S2H"3c.. TO-. n-Srs -s,if
SIC do seconds 27F2Sc, Special fancy brands
OF prints 1obhing At SN0lOc
Enthusiastically fine fresh stock well
cleaned up and steady hgt uHdcrgratI-s IuII I'M
nee cases, nearby extras, Sic. per doz. near
oy nrsts, IS 40 Per standard ease: Nearby '-.Ir-
rent receipts s. .2oGT.5O per standard rssr.
w esttTn extra nrsts -. ~ per case. do. nrsts
~. 2Od 90 per case, DO, seconds ST. GGTG rs
per case Candlef aul rsrrated fresh eggs
quality.
CHEESE.-Dssrsbla stock we'll cleaned IN
az hrm prices. New York sU'l-rream rhoiSS
ii6[sG l6n'c do DO fair 20 good. l5's.. ltc
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1914-09-24
RI RYE e FLoTR'-stesdily FL. held. but quiet at
PROVISIONS

Were quiet and barely steady. city beef, In
sets. smoked and air-drea. 2lU&9r Western
5eef In sets smoked SlI32c. city beet
Sk6nnskles and tsnders, smoked and air-dried,
smoked. 32h3+c.; beef hams, 4Oa4Sc pork,
family' s26a2T. Hams. ; =. cured loose -
nloI2c.' do, skinned loose. i5iedl6c do
do smoked. lsTl9c.. other hams. smoked ci,v
cured as to brand and average, ISalac :
hams. smoked. Western cured lSd 1gc.. 10
boiled. boncless, 2SG2ac; picnic shoulders ;
P. cured loose, l2a l2igc. d., smoked l4q
l4'-ci bellies. in pickle according 10 average
loose, l6lgHl7c.; breakfast bacon as 10 brand
and average. city cured 2lq23c. breakfast
bacon. Western cured, 2lH23c,. lard. Western
rechned; ,tierces. lllsGllsc do, do. do tubs
- ~ Iac'' lard; pure city kettle rendered
rendered. In tubs. llL-all..c - wv"
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1914-09-24
MORE DIVIDENDS DEFERRED

the directors of the following companies
today decided to defer action on divi-
dends due at this time, and conserve their
assets.
The Atlantic City Company on preferred
stock. which is due October /: United
States Smelling Refining and Mining
Company. li2 pcr cent. 70 cents on COM
mon. The regular quarterly dividend on
1& per cent. was declared on the pre-
fcrred. payable october 10 to stock Of
record September 20.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1914-09-24
GRAIN AND FLOUR

WHEAT-Receipts, T5sg5 bush. Prices de.
G!ined la2c. under lower reports from III.
West. Car lots in export elevator-No > red
spot and September, Sl.OaGrl.I+: No re-,
EWcstern Y $lI3dllS; No. Northern Duluth
CORN.-ReCeipts. 5000 bush Trade ouiet
put prices well maintained. car lots 70,
iSSaI 10 trade, aH to location-No. .. yellow
ShmSSRc.; steamer yellow, ST., "a SSC
OATS.-Receipts ~ 800 bush Prices
steady with demand fair and offerings mod,
crate No. .. white, ~ ~ a 5Jc standar nj
"hIte, % n ~ y No. 2. white. 53Iy "a dc
FLOIR.-Receipts, 2ls5 bbls.. l. 22S. a2a lbs
IN sacks The market duh and weak under
pressure to sell Winter clear. Si.75d5: do.
straight SSF5;2 %: do patent $5.iOa > -,
Kansas straight, jute sacks, 81 2pI5 80, do
clear 81 75a5: do, straight S5.lSd5 %: d..
patent. SJ.J00I5.S5: do, fav0rte brands xss
S.25: city mills, choice and fancy patent $Gq
SO: city mills. regular Winter clear
4'ISq5: do, straight, $500. do. patent
,,Il RfE e FL FhLoGR'-steadily held but quiet. at
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1914-09-24
FOREIGN EXCHANGE

A recent development In the foreign
exchange market Is the establishment
of direct exchange relations with GER
tain of the neutral countries on the
European continent The war and re-
sultine unsatisfactory status of the
sterling market has led importers Of
American merchandise In those coun
tries to have consignments financed
through New York instead Of London
as was the regular practice prior to
outbreak Of war. Demand startling
easier today at 4.951ad4 .95A; cable
firrnpr
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1914-09-24
NOTES OF THE RAIL

To vote on the approval of refund
ing and Improvement mortgage cover
ing the railroad properties. rights and
franchises. special meeting of the
stockholders of the Erie Railroad will
be held on October IS.
President Harrison. of the Southern
ing Of the company. which will be held
on October 19, to be more than the
conventional routine and looking to-
ward this end he has sent a letter TO
stockholders asking their cooperation
Stockholders are invited to ask questions
of the management.
THE only hope for our railroads. if
they are to remain under private owner
ship. Is that there be an immediate adj
vance allowed in their passenger and
freight rates" said B. F. Bush presi-
dent OF the Missouri Pacific and the
Denver and Rio Grande Railroads. in
an address before the Missouri Pacific
Association. "A moderate advance in
the rates that would afford the railroads
the desired revenue would not appre-
eiabiy increase the prices OF any COM
modify to the consumer"
The New Hampshire Public Service
Commission has denied the application
of the Boston and Maine Railroad and
the Grand Trunk Railway for permission
to increase passenger mileage rates from
to Pa cents a mile,
Rate cases involving allowances IN sn-
called Industrial or tap lines for hauling
cement in the eastern producing district
viii be taken up by the Public Service
Commission of PENNSYLVANIA early in Oc-
toner Important questions affecting this
ana other commodities will be raised.
the new north aid south route of the
Hin lines between the northwest ana
Galveston, which affords a saving OF 7oO
miles in distance, is TO be put i'm opera
uon November l with a through train
service and the understanding Is that
Inc Trinity and Brazos Valley will pass |
into full possession OF the Hin interests |
al the termination of its receivership.
The Pennsylvania. through a holding
company, is acquiring a block of lanE |
IN hunalo as a site for a terminal |
market similar to those II operates In
Philadelphia. Harrisburg ana Pittsburgh
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1914-09-24
S72,OOo.o0O SENT WEST
TO COVER GRAIN CARGOES
Shipments Total More Than 8o,ooo,.
900 Bushels Since July.

Some idea OF the wealth that is going
into the West because of enormous crops
is shown in the fact that since the 1st
of July more than S0.000.000 bushels of
wheat, including -four. have been shipped
out of this country. The average price
obtained was approximately 80 cents a
bushel, which means a total of about S72.-
100000.
All OF this money. less an average rate
of 10 cents bushel for freight carriage,
goes into the West 1t is the contention
OF grain experts that the exports OF
wheat and flour will be doubled II II
shall be available on the present crop,
and that the average price from now on
will be well over the dollar a buBhel
mark.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1914-09-24
GET LOAN ALLOTMENTS

Subscribers in this city to the New
York city 6 per cent bonds received
notice today of their allotments. only
% per cent. of the subscriptions for tho
three years was awarded in most cases.
More than this was awarded on the
two-year bonds and thp fun amount on
the one-year notes. trust comnar1
" hich was awarded some of the bonds
snd notes was offered 1O1 for its allot-
ment.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1914-09-24
STEEL TREASURER RESIGNS

At the monthly meeting OF the Cam
bria Steel Company, held here today, A.
J.. Robinson resigned as treasurer and d.
B. Gehly, secretary, was elected to sue
ceed him. Mr., Robinson was granted n
leave of absence until January l owing
TO i'll health. lie will. however. remain a
vice president of the corporation.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1914-09-24
PUBLIC UTILITIES

All previous records for production of
natural gas in the United States were
broken last year when the output
amounted to 5Sl, SOS, ,239 900 cubic feet,
valued at $s7. SIT. This compares with
a production of 562, ,2OS, ,452 900 cubic feet.
valued at sS4,563,95T. in 1912. OF the
total product, about 80 per cent. was used
for domestic purposes. or 1s4, ,sS5 ,662, 900
cubic feet valued at S5O.522. AIS. and 6S
per cent for industrial purposes. or 397,-
Ol2,577O00 cubic feet. valued at S37, ,324 262
West Virginia led in production with
245'ioS,ss5,OO 900 cubic feet, valued at S34.-
lbi'soO. Pennsylvania was second with
an output Of 1lSrs6O,26O 900, valued at s2l.-
5,S45.
Northern California Power COMPANY.
which serves the territory north of the
Pacific Gas and Electric territory.
reports gross earnings for the seven
months ending July 81. OF S4S7, O0O an
increase OF sss,0oO as compared with 1913.
In four years the gross earnings have in
creased ss1a per cent.
Local stockholders OF the WayIand Oil
and Gas Company learned today that the
south Penn OIL Company had Increased
It's purchase of oil from 80 TO 100 ner
cent in the West Virginia neld. ana that
this arrangement would continue until
the end OF October. The eurtailmant ~
these purchases caused the suspenslon
OF dividends on the stock OF the Way
land concern.
Attorneys representing the New York
Central lines will appear before ths
Illinois State Public Utilities Commission
on october 10 TO get permission to com
plete consolidation OF the New York
central ana the LE@@ Shore and 4iehi-
Sahssouthern Railroads.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1914-09-24
COTTON EXCHANGES OPEN

Reopening of the cotton exchanges
row include Dallas. Memphis. Montgom-
cry, New Orleans and Savannah. The
New Orleans exchange. which resumed
business today. is regarded as giving Ii
brighter outlook 10 the holders OF cot
ton and to all whose business is de-
pendent thereon. This opening. 1t Is
expected. will be responded to by con-
siderable cotton buying throughout the
country
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1914-09-24
MONEY SITUATION HERE
HAS TlGHTENED SOMEWHAT
Brokers Have Difficulty in Placing
Good Name Commercial Paper.

The money market In this city is tight
About the only business being done is in
commercial paper, and money lenders re-
port that even this has fallen off, com
pared with a week ago, when moro IN
quiry appeared than had been evident for
some time. Country banks were then
active, asking their city correspondents
to look over the commercial paper mar
ket for them for good name paper There
is still some inquiry from the country In
stitutions, however but not to any great
extent
Rates are holding the same, call money
being per cent. and commercial paper
at and ~, the transactions made being
generally at the former figure. Paper
brokers, on their tour Of the banks, re-
ported this morning that the latter did
not appear to want any paper and IN
some cases they were having some olIn-
Guilty in placing paper for their custom
ers. The banks, as they customarily do'
are caring for their own customers hrst'
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1914-09-24

Fernmon CRr). Galveston 10 Hun, grain.
20 COO quarters, 2s Sd. prompt
Rratsberg tNorp. e4IS tons. time charter
Eeneral trades, three 10 six months, II or
Neilrose tBrJ, 22aT tons. Savannah 10
United Kingdom cotton, basis so cents. one
crown ~ Cordova CBr) 223s tons. Gulf 10
United Kingdom or France, hour private
terms September October.
Ronsdat lNorl 202s tons Baltimore TO
Havana, coal. private terms prompt.
kTOnStad tNOrD. 1913 tons Quebec ana
Point du Chens 10 Glasgow. deals 42s Sd,
prompt.
Nevsbroo tBrD lR6s tons Gulf to United
KINGDOM, timber, private terms, prompt.
Foreign steamship, -. 1000 tons dead
weight. Montreal 70 Hayre hay. 81 for com
pressed. Sl3 for non -compressed, October
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1914-09-24
ANOTHER CUT IN SUGAR

The Federal Sugar Refining Company
this afternoon announced a further re-
ductiOn in It's price of refined sugar OF
y cent a pound. to 6.25 cents. less 2 per
cent. for cash for fine granulated. other
reiners continue to quote SIS cents. Raw
sugars also declined. Spot falling 4 cent
10 soc cents.