Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1915-08-28


The Bank OF England reports amount
OF currency notes outstanding az ESAO0l,-
49,, against C5i,OS6.Hs last week. The
amount Of gold held for redemption Of
such notes remains at EG.50O.OO0
For the fiscal year ended June 30 the
American Agricultural Chemical reported
earnings equal 20 l0.aS per cent on the
common stock The surplus after divi-
oends was S,2SS,7S3. against S669.O5S in
1914
The American Car and Foundry Is in
| the market for $50 iathes "a inches and
larger for its Detroit plant, TO make y
inch shells from forgings.
The westfeld Manufacturing Company
has purchased the Pope Manufacturing
Company, and has issued the following
securities in payment: 100000 per cent.
debentures, 100000 per cent conyer-
tible preferred stock and SS0O,OOO common
stock.
The Ohio Public Service Commission
has granted permission to the Lake Erie
and Pittsburgh Railway Company TO sell
SS54o,ooO per cent. bonds.
Henry Y. Carse. vice president of the
Hanover National Bank, of New York
has been elected president of the Subma-
rine Boat Corporation.
The New York banks lost Sl,O75.OOO TO
tho Subtreasury Friday.
The Atlantic, Gulf and West Indies
Steamship lines for the six months ended
juno last show an increase of LIS 92g on
the net income and a decrease of Slj3,3l9
i'm operating expenses
Swift & Company increased their quar-
terly dividend a of l per cent to ? per
cent.
Uplifting factors continue to assert
themselves in trade and industrial circles
but At the same time there is a degree
OF unevenness in particular sections and
certain industries that deprives the situa-
tion of uniformity. However. optimism
as to the future seems unabated; our in
ternational political relations appear to
have improved; some sections report
larger road orders mail-order trade goes
on increasing; the Southern situation is
! brighter; money everywhere is plentiful
at lower rates; collections are somewhat
easier; foreign orders for manufactured
war supplies continue of large propor-
tions; higher prices prevail for iron, and
| steel and copper has emerged from its
recent spell of dullness," says Brad
streets.
Robert X. Cassatt has returned from a
short stay in New England.
Lake charters for nearly 100000 bushels
o. wheat were taken Friday at rs cents
Buffalo.
The Treasury Department has pur-
chased 250,OO0 ounces of silver at A7Ac
per ounce and 100000 ounces at 4T7Ac. per
ounce, both lots deliverable at Phladel-
| phia.
contract for I65,OOO-ton coaling plant
! for vessels has been closed between the
Inter-lsland & Navigation Company and
c. w. Hunt, of New York. The plant
which will be the second largest in the
Pacific is TO be constructed on Honolulu
harbor. and will cost $1,OOO,OO0
There was a decrease OF s652,sS6 in the
| gross earnings of 81 railroads for the
| second week in August.
Failures in the United States this week
were 321, against 354 last week, 32l the
preceding week and 3l6 in the like week
of last year. Failures in Canada num-
bered 81, against I3 last week, 43 the pre-
cecding week and so last year.
Steel bar inquiries I'm connection with
the manufacture of shells are said to be
between 100000 and 100000 tons
The Russian Government has placed an
order with the Lackawanna Steel Com
pany for 5000 tons OF steel rails, to re-
place a previous tonnage in like amount
that did not reach its destination.
The formal steps are being taken to
aftd ha NJ Il FRO
Insurance Company of Philadelphia so
that non-residents of Pennsylvania may
become directors. A stockholders meet
ing to vote on the question has just been
held When ali of the legal requirements
are complied with, II. G.. Snow and four
others will go on the Franklin's board,
and Mr.. Snow will be made president
of the Franklin.
According to Bradstreet's, exports of
wheat this week were 5,l65,452 bushels;
last week. -5.5S9,l46 bushels; last year.
,527 bushels. Since July l. 32,0SS, ,627;
year ago, 55,O60042 Corn shipments this
week. ll2.205 bushels; last week, 900, ,S51
last year, 90,lT Since July ], 2.5S5,s9o;
year ago, nf,559.
Discussing the immense savings and
profits effected by the use of by-product
ovens i'm the manufacture of coke from
COAL Chandler Bros. a. Co. say:
II may pe interesting 10 mention an
other remarkable saving process now
turned into an enormous profit. This is
by steel companies in the last few years
In the utilization of blast furnace Stag.
This former waste product, which cor
tnins all the essentials Of cement, is now
being made into cement. One company
alone produce 5000 to 5000 barrels of
cement per day from this source; the
Universal Portland Cement Company, a
subsidiary of the United States Steel Cor
poration. The value of the product OF
this plant is about Sl5.000.O00 per year.
On the basis OF 100000 tons OF pig iron
per year (Charles NJ Schwab says our
production of pig iron in 1916 will be
40O0J,OOO tons), the blast furnaces of the
United States can furnish Stag enough
TO make 100000 tons of cement. or 2O0,-
0D,OOO barrels Of cement. valued at be-
tween 500 900 900 and $780, 200, ,OOO made from
what in the past was considered TO be