Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1915-06-07
FINANCIAL BRIEFS


s. D, Carson was elected director Of
the Philadelphia Company, succeeding NJ.
II. Furland, resigned.
Wheat prices closed weak in New York,
with July and September down IA cents,
The Chicago market was closed
The Paris Bourse will be closed on
Saturdays until after october 8.
Tho Missouri crop report gives June
wheat conditions as 69.s compared with
SO a year ago; corn condition IS, the same
as year ago; oats condition IS, against So
a year ago.
Notice has been sent by United Light
and Railways Company TO holders of the
second preferred stock that after June IL
the per cent. second preferred stock
may be exchanged. share for share. for
either per cent. frst preferred or COM
mon stock. This privilege will remain
in force for 60 days, after which time the
company may elect whether II shall be
converted into first preferred or common,
Martin G. Co. were awarded 1900 city
OF Harrisburg School District "A per
cent. bonds at 103.23i,
H. B. Earling. vice president OF the 81.
Paul, says that an increase OF from 10
to 20 per cent in acreage along the COM
pany's lines is certain and that bumper
crops throughout all the western States
are indicated on the present outlook.
The Cumberland Corporation has issued
IS, 10000 one-year per cent. notes. dated
June /. to retire the same amount Of
three-year 8 per cent notes due on that
date. The new notes are secured by the
same collateral as the old ones. namely
| S. 100000 Carolina, ClinchAeld and Ohio
Railway preferred stock and $4,000 900
common stock They are redeemable at
1O1 on December l. 1915
| The commercial paper market remains
almost entirely neglected in this city.
| Prevailing rates are around 4 per cent,
but the quotation is merely nominal.
Edward NJ. Hyde, formerly president Of
the Bath Me-. Iron Works, has an
nounced that he and his associates have
| arranged for the building of a 5000, 900
shipbuildlng plant at Mobile, securing the
| steel and other material from the Bir-
mlngham district. Mr.. Hyde promises to
| have plant construction begun within a
| few weeks Ocean-goiHg craft is to be
| built.
The Chicago Stock Exchange, the Board
Of Trade and all banks were closed today
| on account of the judicial election.
The Baldwin Locomotive Works has re-
celved an order for two switching en-
glnes, one from Cuba and another from
the United States Of Colombia.
Drexel & Co, the Fidelity Trust Com
many of Newark and Clark, Dodge & Co,
have purchased S5,OOOOOO Public Service
Newark Terminal Railway first mortgage
sinking fund 4O-year per cent. bonds.
dated June l, 1915, and are offering them
at 95ih and interest. The bonds are guar
anteed principal and interest by the Pub
lie Service Corporation of New Jersey.
ADULTS are being made for the street 5
| Western Stable Car Line bondholders'
committee, which hopes an Increased de-
mand for railway equipment this year Will
assist II In avoiding a liquidation.
No annual report OF the international
Mercantile Marine was presented TO the
| stockholders owing to the difficulty OF get
ting the accounts closed, due to abnormal
conditions abroad. F. A. S, Franklin will
make a report as receiver from the day
he was appointed. AS such, this will be
published provided that il is approved by
the court. Directors were reelected.