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

Pennsylvania Fire Insurance Company
stockholders at special meeting today
approved n recommendation Of the di-
rectors to accept the provisions of the
Pennsylvania act Of Assembly which
provides for the incorporation of fire and
marine insurance companies.
Franco continues to make inquiries here
for steel rails There is one inquiry for
25,00O tons and another for 125OOo, So
far negotiations have not resulted in
actual orders.
An issue Of 81, 100000 per cent. one-year
coupon notes, series B. OF Columbus
Railway. Power and Light Company has
been sold at 99ls and interest.
Proposals are asked for the sale OF its
first mortgage per cent. 30-year bonds
OF the San Francisco and Northern Pa
cihc Railway, at a rate not exceeding
100 and accrued interest, to exhaust a
sinking fund Of $4,000.
The municipal bond sales in Canada for
May, as compiled by the Monetary Times,
amounted to s4,264,2S1. compared with Ss,
b9,774 for April and 81, 400, 1855 for the cor
responding period OF last year
John b. Evans the new United States
Subtreasurer for Philadelphia, today took
the oath OF office and assumed his duties
at the local SubtreaBury.
The Midland Valley Railroad Company
for the 10 months ended April 80, 1915,
shows surplus earnings over operating ex-
penses, taxes and interest on the first
mortgage bonds, Of S5T, ,745 as against SiO-
of IN
year previous.
Additional shares OF various companies
have been placed on the regular list OF
the Philadelphia Stock Exchange as fol-
lows: $36,l00 American Telegraph and
Telephone, 100000 American Gas, issued
under allotment, making total American
Gas stock listed S6. 43s. 200, and S7OO Key
stone Telephone voting trust certificates.
There have beer struck off the regular
list $4,000 Pennsylvania Railroad consol-
idation mortgage 4 per cent. gold bonds,
1913, Cancelled by sinking fund.
The Protective Committee for the West
ern Pacific Railway first mortgage per
cent. bonds has extended the time In
which bonds can be deposited under the
deposit agreement to and including June
26, 1915 The committee states that a
large amount OF bonds have already been
deposited and that requests from holders
OF other bonds have been received for an
extension Of time in which to make de-
post.
Howard Elliott, president OF the New
Haven, In a statement summing UP rail-
road legislation recently enacted in Mass
achusetts Connecticut and Rhode Island
says the passage OF these bills gives
| the company the legal right TO submit 10
its stockholders some plan for financing
its present floating debt and for obtain
ing for future needs, If business condl-
tions justify. A most important result
| OF the legislation enacted during the year
by cooperation OF various interests
says the statement, "is that 1t marks the
| starting out on a course OF constructive
work in helping to build up the New
Haven road and the New England Trans
| portatlon business"
Exports Of general merchandise at the
| port of New York for the week ended
! June totaled S21,545,239 an increase oi
! 81, ,5S2,075, compared with same week last
| year. Imports for the week totaled Slo''
466 Sl9, an increase OF Sl,O93,4l5
The New York banks lost $4,000 70 the
Subtreasury on Saturday, and have los
| "a, nna I,at EHRiAaU