Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1915-09-15
Financial Briefs

The Iron Age says: with the steel
making capacity so largely taken up for
1915, the trade is daily making calculations
for the early months of 1915. There is
more evidence that the hand of the rail-
roads is being forced by the size of the
foreign inquiry for steel, to be shipped
after January l. Locomotive orders and
inquiries have been larger in the last
week than in months. Some car require
ments are shaping up. In the case OF
the New York Central, both rails and
cars are up, and rails for fall and winter
delivery are expected to be placed at
Buffalo. The Seaboard Air Line has
ordered 1000 tons of rails and the Glover
Leaf 5000 tons. Generally, Western roads
have not begun to negotiate for next
years rails.
On January the Westinghouse Electric
will redeem the old convertible per cent.
bonds at 105 and interest. Holders desir-
ing to anticipate this date of redemp-
ton may surrender their bonds on and
after September 16, receiving 105 and in
terest from July l last to date of sur
render Bonds may be presented at
Guaranty Trust Company for redemp-
tion.
Regular dividends on Reading and Le-
high Valley.
The Finance Company of Pennsylvania
declared an extra dividend of a quarter
of per cent. on the first preferred stock
in addition to the regular quarterly dis
bursement OF S1.5O.
Henry & West were buyers of Cambria
Steel.
Today's auction sales of securities
showed mixed changes. Philadelphia
National Bank rose points and Farmers
and Mechanics l. Pennsylvania Company
for Insurances fell 10 and Commercial
Trust 5.
r. w. Gillespie was appointed general
manager of sales of the Pennsylvania
Steel Company and the Maryland Steel
Company, with headquarters in Philadel-
phia. Mr.. Gillispie succeeds John c. Jay,
Jr., the new chairman Of Maxwell Motor
Company
Edward r. Smith has returned from
his vacation spent in Canada
For the fiscal year ended August 81 the
Packard Motorcar Company did gross
business of sl5.sOO,O0O, $4,000 more than
the previous year
The directors of the Tennessee Copper
Company have completed their plans for
the sale OF 100000 per cent con-
vertible bonds to a syndicate. 1t is under
| stood that the bonds will be convertible
into the stock of the company at 40 after
a given period.
Copper exports for. the week ended Sep
| tember were 4,033092 pounds. Imports
OF ore matte l4Ss,0OO pounds. pigs, etc.
2,751.OOO pounds.
The New York banks gained S412.OO0
from the Subtreasury yesterday, and
since last Friday s6.241,OOO.
The Scranton Axle Company has re-
ceived a contract for furnishing 500, GOO
shells to the Russian Government
Tonopah Belmont. Girard Trust Com
pany Cambria Iron and West Jersey and
| Seashore Railroad were quoted exdivi-
dend today except for cash.
At meeting held September Q, 1915,
| the capital stock OF the Philadelphia
Mortgage and Trust Company was re-
dUced from S25O,0O0 TO s125. 900, and the old
stock was today stricken OF the regular
list. The certificates OF the company rep
retentng the capital stock OF t25O,000 is
listed in lieu thereof, the certificates rep
resentng the reduced capital stock OF
$4,000, the new certificates being num-
bered !, G 2. etc, and have engraved
upon them the words. Capital. $4,000. -