Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1915-07-22
Financial Briefs

Robert X. Cassatt left today for
months visit at Newport.
1t Is expected that Italy will soon close
contract with an American steel COM
pany for 10000 tons OF steel rails.
The General Electric Company is ex-
pected to close contract in the near
future for c.ose to 10000 tons of steel
to be used In the manufacture of war
munitions
Lewis Nixon has resigned as president
of the Standard Motor Construction Com
pany, and E. A. Riotte was elected TO
succeed him. Henry r. Sutphen, vice
president OF the Electric Boat Company
has been elected a director of the
Standard Motor Construction Company.
The gross earnings of 26 railroads for
the first week of July were SS,24SSS9i de-
crease, AS5,567.
New York banks gained 100000 from the
Subtreasury yesterday, and since last FRI
day $4,000.
The Iron Trade Review says: Activity
I'm finished lines, which has been increas-
ing for several weeks, is now extending
TO pig iron, especially in steel-maklng
grades, of which large tonnages have
been purchased. 1t seems probable that
there will be much heavier buying OF pig
iron soon and that the production for
July will show a large increase. Quota
tlons on pig iron are being slowly ad-
vanced The export demand for machine
tools is again of record proportions.
w. Grant Hallowell has been appointed
assistant cashier Of the Second National
Bank.
A special meeting OF stockholders OF
the New England Telephone and Tele-
graph Company will be held on August
for the purpose of voting upon an In
crease in authorized capital stock from
s5O.0OO,OoO to S75,oOoOoO'
Exports OF copper for the week ended
July 10 amounted 10 5,534,6l5 pounds. or
which 22A pounds was shipped to Russia
6i9 600 pounds to France, 976,OOO pounds
10 Italy and $4,000 pounds to England
Imports for the same week OF ore, matte
etc. amounted to 9232, 900 pounds, OF which
10000 pounds We're received from Cuba
sol 900 pounds from Chill and 10000 pounds
from Canada. Imports Of pigs, lngots
etc, amounted 10 6,742,0OO pounds OF which
2 $50 900 pounds was received from Japan
and 1881 900 pounds from Panama
MeSLlIlkHOubt
for an order for 100000 rifles. The price
for each one will be about $50 and the
cost OF manufacturing, between Sl2 and
tl3 each.
A bid of $500 was made for a local
Stock Exchange seat this morning with
none offered.
While large producers have no nxed
prices, a leading agency considers ths
price OF copper about 1914 cents, com,
pared with previous quotations Of 1874
to 20 cents
The total number of idle cars on the
PENNSYLVANIA Railroad system on July 10
was 59, ,9Ol, a decrease Of 1884 from April
/ and OF 26, l29 from January 4. or the
total cars out OF service on July 16, S37O3
were shop cars and 26.20l good-order cars
stored. These figures show respective
decreases OF 553 and 177S6 from April
and 6265 and 1864 from January 4, The
feature Is the very large decrease In good
order cars since the beginning of April
amounting to 4Ola per cent on the entire
system. This indicates a marked Inn
provement in the Pennsylvania freight
traffic during that three and one-hali
months period. as the cars placed In
shops also decreased slightly between the
two dates mentioned.