Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1915-01-08
FINANCIAL BRIEFS

FINANCIAL BRIEFS
Boston and Maine stock sank to a new
record low mark in Boston today. 1t
dropped to 96h, a slump of ~ from its
opening price for the day. Several days
ago the stock reached q.
A Pittsburgh man who dropped into the
offices of Pennington & Colket. in reply
to a question as to how business was In
his city, said: 1.-The town is looking
great these days. 1t is so dark at
o'clock that you need searchlight to
find your way about. and 1 am now carry
ing four handkerchiefs to the office In
stead of two a few weeks ago. These are
my infalllble signs, better than all your
figures, that there is something doing in
the old town"
The Erie Railroad is arranging for the
financing of its maturing obligations
There are S1i, $50 900 notes falling due this
year and a new refunding mortgage Is
understood to be contemplated.
Charles V. Thackara was elected vice
president and treasurer of the First Mort
gage Guarantee and Trust Company
At the Southern Pacifc's annual meet
ing. April 7, stockholders will be asked to
vote on merging six companies into
parent corporation.
Deposits in 939 Kansas State banks on
December 12 1914. aggregated $llS,692,45b'
exceeding any former record OF those
banks, according to report OF the Stats
Bank Commissioner. The report declared
that the gain was due to the record wheat
crop.
George A. Huhn & Sons sold Rapid
Transit at the minimum price. 1t was
said an account was being hquidated.
Thomas A. BIddle & Co. were buyers.
Henry NJ. Taylor has retired as presi-
dent of the American Vulcanized Fibre
Company, and has been succeeded Dy
G. K. Parsons,
William N. Goodnow was elected
member of the Governing Committee or
the Boston Stock Exchange, to fill
vacancv caused by the election of Charles
Hayden to the vice presidency. The GOV
erning Committee has formally dissolved
the Special Committee of Five
Charles T. Mather. formerly with Glen
dlnning & Co., has become associated
with A. B. Leach Co.
The AO,OOO,OOO New York Central six
months and one year per cent notes.
dated October l. 1914, which were pur-
chased by syndicate headed by J. L.
Morgan & Co., have all been sold
Emergency currency to the amount OF
$4,000 has been retired at the local SUD
treasury; Ninth National Bank, HOOOOi
Southwark National Bank, $4,000, and
Kensington National Bank $1,000
The Federal Reserve Bank of Chicago,
following the lead of New York, mas
begun investing idle funds. About SoOO OOo
of Government bonds have already been
purchased.
Rights TO subscribe to the new S,5OO0OO
6 per cent. debenture bonds or the Alaska
GOD Mines Company, when and as II
issued, are quoted 23d25 cents sales Were
reported from % up to % and back to "a
cents. The bonds are to be convertible
into stock at $50 per share
The lump in cutton prices was attri-
buted to the announcement that the AL
lies had agreed TO eliminate cotton from
the list OF contraband articles
The PENNSYLVANIA Railroad loaded car
movement for December indicates un-
satisfactory traffic on all eastern lines,
decreases ranging from S6 per cent to
400 per cent.
The Southern California Edison Com
pany has sold to Harris, Forbes q Co..
and u. H. Rollins & Sons, $5lS,OOO gem
sral mortgage per cent S0-year bonds,
dated November /, 1909. The bonds form
par2 of an authorized issue OF SSO'OOOOOO'
of which S13, $50, 900 are outstanding. They
are being offered at 81
The reported movements OF currency
this week indicate a gain In cash by
banks OF over S6,OOO,0OO.
The Canadian Pacific Railway Com
many announces that II will pay or at
par and interest at any time up TO July
/ next, when they mature, its sl2,s4264i
Z per cent. first mortgage sterling de-
bentures. The offer Is simply TO antici-
pate by a few months the maturity Of
the bonds for such holders as prefer to
have the money
The Board of Managers OF the New
York Cotton Exchange passed resolu-
ton authorizing Superintendent King TO
sell at open outery TO the highest bidder
the seats In the exchange standing in
Inc names OF Charles A. Kittle, stephen
II. p. Pen and Charles Leb Homer.
Local bankers are Offering Canadian
Northern Railway Equipment 5s, due
serially from October, 1915, 70 1924, at a
price TO yield 5A per cent
HEAVY SELLING IN COTTON
.,,.r,y xyoBK Ian SHAW sallinR of prac-