davidaulloa/AmericanStories huggingface dataset:
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1915-09-16
The Big Loan to the ALLIES

Around midday the Street received the
news that the huge loan to the Allies,
which has been under discussion. had
been virtually arranged. although no de-
tails could be learned. II was said, how
ever, that the amount would be $1,000.
100000. This wag very encouraging TO the
financial community, as IL has been act
ing as a damper on the market Later
Z in the day II was learned that the loan
will be 500. 100000, and will be the joint
obligation OF Great Britain. France and
Russia The rate of interest will be S
per cent, but the proposal to permit the
loan to run for six years, which was at
first submitted to the conference, has
been modified, the duration being short
ened. No part of the loan will be used
tc pay for war munitions. The purpose
Of the financing is to enable the Allies to
purchase American agricultural and other
Fproducts. other than munitions of war.
For the purchase OF the latter Great
Britain ard it's Allies will pay in gold
This will necessitate sending TO this coun-
try perhaps 100000, 900 gold, or even more,
but the three nations consider that they
are IN a position TO do so.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1915-09-16
SEAB0ARD AIR LINE
NEW CONSOLIDATION
Will Tap Productive Cotton and
Tobacco Lands--Big Bond
Issue Planned

The consolidation of the lines Of IN.
Seaboard Air Line and the partial rn
financing OF the company should prnva
OF great benefit not only 10 the ROAD t,.
self, but TO the country through which h
operates.
The lines added to the system THROUGH
consolidation Of subsidiaries with The
parent company are chiefly main lns
properties and include the Carolina. Al
lantic g. Western Railway, which il n.
self recent consolidation Of the North
& South Carolina; the Charleston North
ern and the South Carolina Western
operating in all about 4le miles and gives
the seeboard an entry into Charleston.
This line will be extended 70 Savannah
by the construction Of IS miles OF railroad
with maximum grade OF but $40 Of
per cent. The new territory thus opened
up II rich In cotton and tobacco
II Is proposed to change the name OF
the Scabonrd Air Line to the Seaboard
Air Line Railway Company. and a new
mortgage Of $500. 900 will he executed
authorizing bonds to that amount. II
will be a first and consolidated mort
gage and a banking syndicate headed bv
the Guaranty Trust Company Of New
York, and including prominent banking
Institutions throughout the country, has
already purchased 22,S93,00O OF the new
bonds which bear interest at per cent.
maturing IN ~ years
The preferred and common stock OF the
present Seaboard Air Line will be retired
through exchange for shares of the new
company The new preferred will be
entitled to dividends at 8 per cent in
preference to the common, whereas the
present preferred is entitled to only (
per cent. and to an additional per cent,
when the common has received per
cent. In consideration of the new terms
-.
will receive smaller amount of new
preferred than they now hold. The old
common, however. will be exchanged
share for share of the new common.
There is now outstanding s2SS94.1oO old
preferred and $37,0l9. 400 old common
The above map shows the portion Of
the Seaboard system affected by the
combination of new lines, including the
proposed line to be built from Charleston
to Savannah.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1915-09-16
Financial Briefs

The hearing of the Public Service Com
mission on the agreement between the
Keystone Telephone Company and the
Philadelphia Electric Company has been
postponed until Thursday, September %,
at 10 a. M
The New York Cotton Exchange seat
belonging to the estate of L. Mandelbaum
has been sold 10 G. H. Miller for $lS.OO0
an advance OF $3.50 over last sale.
Carstairs & Brown were buyers of
Crarhp shipbulding shares. c. A. Hagen
was active in Cambria Steel.
~ y - -.. Hfrs
II. e. Schueler has been elected cashier
Of the Northern National Bank and
Charles Gesing. Jr., assistant cashier
Henry Ford authorizes denial of the ru-
NOR that he has been or Is negotiating
to purchase an interest In the B. f. Good
rich Company.
The Land Title and Trust Company has
increase its surplus fund from A,00O000
TO $4,500000.
One of the important matters to be
brought before the National Association
OF Mining Brokers when II convenes in
San Francisco September 1 and % will be
the establishment of a sort OF mining
and not to the financial standing OF the
individual brokers.
War risk rates of insurance on ship
ments In neutral bottoms to Mediter-
ranean ports, not including East Sicily,
have doubled within the last week, ac-
cording to the underwriters It was said
that increased activity of German sub
marines was the cause of the increased
rate.
The New York banks gained from the
Subtreasury yesterday $464,0 and $6,-
7o5, 900 since last Friday.
J. Wallace Hallowell has been elected
a director of the Real Estate Trust Com
pany, to succeed August B. Loeb, de-
ceased.
Speaking at the convention of Edison
companies. Frank A. Vanderlip, presi-
dent of the National City Bank of New
York, said In part: you are facing a
period when the demands upon capital
are going to be very great. and the rates
are going to average higher than we
have been used to. In addition TO the
requirements OF foreign governments the
railroads and industrials which have
been pursuing a policy Of retrenchment
will have importunate demands for capl-
tai. Certain industries, notably those en-
gagged in the production of munitions OF
war. are growing rapidly, and the i'm
provement Of their credit is placing them
in position to demand capital in large
amounts. Do not let low rates for bank
loans lead you into any belief that the
destruction of capital in Europe will not
have Its effect upon the price OF invest
ment capital in America"
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1915-09-16
pIYIDENps pECLAREn

eloss. sheffield Steel and Iron Comnan,,
q herip on eober 70 stock of record tS1ysse s
tsrnber is Scrip dividend win be pavabls r.
es1f from October 1. 1915. per
Vacuum OH Company EegulsT asmlannual
rseord October "a A VI
skiaee Xvsnue passenger Railway companv
reruiar quarterly ~, payable October ss
tsf,her IS. reopen October 2 N'P-
III fladoiphia Company, regular semiannual a
ner cent. on cumulative preferred navahls
<orelnDer as registered October l. Also rec
mar quarterly IA per cent. on common ~
able kovember ] A. registered October
Resel Shoe COMPANY regular quarterly IL
1lock Qf record September 20
standard Silver Lad Company raaular
stock of Fseoid September %
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1915-09-16

FTvE-POnVT ADVANCE
NCOLORADO FUEL
Reports That Company Has Re
ceived New Orders From Rus
sia-Rest Of List Irregular

NEW YORK. Sept. i6.--while the
stock market started on with a show Of
strength today. Il was not OF long dura-
ton and before the first hour was well
under way there was general reaction.
The selling pressure was not large and
tho recession was probably due moro to an
absence Of demand than anything else.
while on the floor Il was said that there
was some foreign selling and that quite
q few stop-loss orders were caught
On the early upRft the war specialties
~ u always the case, or has been here
OF late, we're In the fore. but advances
were not vide although quite numerous.
A. they had led on the upswing, so they
also led on the downturn. The general
feeling seemed to be a waiting one, the
foreign situation still being the dominant
factor. and this appeared TO be the prln-
cipal reason for the check In speculative
buying. There wero no important over
night developments in the diplomatic situ-
alton. yet the Street as whole was OF
the feeling that caution was now In order.
II was felt In more quarters than one
that the outlook was much brighter, and
the statement by the German Ambassador
that he expected the difficulty TO be
strnightened out within the next two
weeks was encouraging.
Losses on the setback ranged mostly
around fractions, although there were
some few ISSUES, such as Bethlehem Steel,
which were positively weak. Bethlehem,
for Instance, dropped off 1915 points be-
fore the end Of the second hour while
Crucible lost over point as did West
fnghouse and Studebaker. General Mo-
tors moved in the opposite direction from
the other war specialties, and when they
were going down Il became strong, show
ing a gain OF AZ points around midday.
Trading was light in the afternoon
and the market was irregular. with
sagging tendency. Bethlehem Steel re-
covered from the morning low, but was
btill OF from the final OF yesterday. The
company's preferred stock was strong.
Rumors were reiterated OF n big merger
and an. exchange of new securities for
that issue, on a basis which would make
Il worth more than II could ever be
worth as per cent. noncumulative
stock. Colorado Fuel and Iron stood out
strong. being up nearly 3 points at one
time. lrregularity. with light trading,
continued TO the end. The most promi-
nent issue was the strength in Colorado
Fuel and Iron, which rose to a level 5
points above yesterdays close on reports
that the company has received new
orders from the Russian Government.
The railroad list was again inactive
there being very little demand for this
class OF securities. News that the attor-
neys for the Western carriers had filed a
petition with the Interstate Commerce
Commission asking that the effective date
OF it's recent decision in the advance rate
case be postponed for 90 days had been
expected The decision was to have be-
come effective on September 30. The re-
quest for the postponement of the effec-
tive date was done so as TO give the rail-
roads time to prepare exceptions to the
ruling.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1915-09-16
WHEATPRICES HIGHER;
STOCKS ARE PM1NG UP
Big Foreign Orders Expected
When Allied Loan Is
Adjusted

CHICAGO. Sept. i6.-Prices were VIZ
,uaiiv unchanged at today's opening OF
the grain market when compared Wltn
the closing quotations last night Inc
sentiment confined bearish, but pressure
reiaxed. An advance was recorded toi-
lowing the opening, with the undertone
firm, traders IN some quarters ADVISE
no selling on the breaks. Business was
far from brisk In the early hours buy-
ers were scarce. Shorts have apparently
been satisfied. 90, -
Adjustment OF tho loan 10 the Allies Is
expected 10 bring on big foreign orders IN
time TO hold back the loss which seems
due TO come with better arrivals from
the country. II is said that 100000 bush
els OF spring wheat have been booked Tor
local delivery for nlling September orders
Enormous stocks are now piling up.
II is reported that at present they amount
20 I ,29s 0OO. 900 bushels, gain OF 24V'-
900, 600 over last year.
All three gralns-wheat, corn and oats
displayed hrmness In the morning
hours, despite the surrounding adverse
conditions. Favorable weather in the
grain belt Is said to be greatly enhanc-
ing the crops.
The market became strong later in the
day and the closing found prices well
above yesterdays finals.
The market became strong later In the
above yesterdays finals.
Export Gales totaled only 100000 BUSH
els, chiefly Manitoba. Chicago cash han
dlers sold for seaboard delivery $1,000
bushels OF wheat and 100000 bushels OF
oats.
Following a weakness due to the ad-
verse American cables the Liverpool
market strengthened because Of the light
offerings Spot grew firm.
Cargoes are reported well supported
The demand OF millers continues un-
abated.
Argentine is hampered by poor weather
and shipping facilities. The visible sup
ply reported for the week totals 100000
bushels of wheat, against $4,000 bushels
last week and "a, 900 bushels in the same
period of last year. Corn in sight amounts
to 6,375, 900 bushels, against 562S,OOO'OO
bushels last week and 2,2O0,O0O,0OO bushels
last year.
Landing futures ranged as follows:
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1915-09-16
LONDON STOCK MARKET
Business in American Section Quiet
and Professional

LONDON, Sept. l8.-While trading OH
the Stock Exchange was brisk today, the
tone generally was steady. The war loans
were harder, notwithstanding Premier
Asquiths statement that the cost of the
war was increasing
Business in Americans was quiet and
professional, the list turning frmer later
In the day on adviees from New York.
Canadian Pacific was dull, while the
Grand Trunks were mixed, with the feel
ing in regard to the shares more cheerful.
Home rails. while slow, held well South
American rails were steady, but dealings
were on a small scale. Foreigners We're
idle. pending developments at the Paris
settlement
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1915-09-16
FRESH FRuITS

sha9p Apples s.,y were quiet and some kinds were
and ruled hrm and higher. other fruits were
"a Asn aar request IT revised prices. Quotations:
GRAY ensteln, s2.25a2. 75; Wealthy, S2 35aS2'E5;
$IS29S sB. n,;o pppin zs s2g2 80; smokehouse. SO
a.; No; 2 ssPples, $lG1.50; crab apples, per per
bush BUSH oe.q$l. Peaches, Virginia. West vIr-
berta, per crate. SOC, qs1i do. DO, do, per
basket 2O440c.; do, Delaware and Marviahhd
Psr Ps carrier 5goaeoe. DO. DO. per basket. $50
BUSH basket 5Oq60c.; do, do other kinds
per sssasksst basket i5qi0e do, New York. per bss.
do, common, per bbl. 81 50d2 Grapes DeIS,,
ware Moore's Early and Concord per carrier.
S0s S0sSSs do be do per a.lb basket Soe Lem.
Dbl so@e; do'' per crate. 1.I5Q5 Pinekp-
day, $l;25q2oO. Plums, Virginia, hanson. per
2o-le. 20 basket. goo goa soc. do, New York. per
setmbradsasg s SHAY. snd Niegsra. l6g2Oe; Refine
iand and Jersey Per qt., 4a6c. .Huckleberries,
per g. g ggse' s6SsEnttsloupes, Maryland. per
ket. 2oq75e Watermelons per eaf. siO6a
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1915-09-16
NOTES OF THE RAIL

The Lehigh Valley will open new freight
offices in the Bourse September 20.
The Erie Railroad has placed orders for
80 locomotives. The American Locomotive
Company will build IS. Baldwin Locomo-
tive Works 10 and Lima Locomotive Cor
poration s.
Bituminous coal shipments on the Phils
adelphia and Reading Railway during
July amounted TO 1.4l5.5lb tons, as com.
pared with shipments of S39,554 tons OF
anthracite coal The total Of bituminous
coal shipments is the largest for any
month since March of last year. when
1861 ,769 tons were shipped Anthracite
shipments were less by 342. .405 tons than
in April. when the largest tonnage 80 far
this year was recorded. and only 1881
tons larger than the smallest previous
total for any month in 1915.
The Seaboard Air Line ana the Clover
Leaf have closed for rails for delivery
next year. The seaboard has purchased
5000 tons and the Clover Leaf 5000 tons
With these two purchases, five railroads
in all have thus far made known their
1916 requirements and contract for ton
mage. The New York Central the Penn
sylvania and a number OF Western roads
are Fastening work on their estimates,
and will no doubt enter the market for
rails before the end of tie month.
The Chicago Board Of Trade has hled
complaint with the Interstate Commerce
Commission declaring unreasonable the
increase In proportional rates which are
proposed 10 become effective on Noyem-
Der IS on grain and grain products from
Chicago to Atlantic ports for export ana
rates 70 points east OF Pittsburgh-Esuf-
falo line.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1915-09-16
DAIRY PRODUCTS

BUTTER was in better request and firm un-
Ger light offerings. Quotations; Western solid
packed creamery, fancy specials, 2Sc. extras,
&c; extra hrsts. 2oa25lac.; firsts, 24q241sc (;
seconds. 22q2Je.; nearby prints, fancy, 20c
do, average extras 2792Sc.; do, firsts 25n
26c.i do, seconds, 23a24c.; jobbing sales OF
fancy prints, 33G36c.
EGGS.-There was a good demand for fine,
fresh eggs and the market ruled frm and 30c.
per case higher under small supplies. We quote
as follows: Free cases. nearby extras 30c.
per doz.; Hrsts, 81. .sOas. 10 per standard case;
nearby current receipts, s72Oa7.5O per case;
Western extra firsts, $S.109S4O per case
candled eggs Were jobbing at 32a34c. per doz.
CHEESB.-The market ruled firm under light
offerings and 2 fair demand. Following are
the quotations: New York, full cream, fancy,
new. 1Jh0l5l9c; specials higher; do. do.
% "
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1915-09-16
English Bank Statement Poor

The weekly statement Of the Bank Of
England was a very poor affair. as COM
pared with the previous week There
was big decrease In the reserve item.
23. s66 600 (si7 0O0). while the gold
holdings fell off e3,742, 900 (s1s, ,71O. .OOO).
Both items are stll considerably above
the same week OF last year, however,
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1915-09-16
Earninrs of Can Good

The American Can Companys earnings
up 10 August on ordinary business were
slightly ahead OF this time last year.
August and September are usually good
months and this year should be ahead
OF last year Work on the war order for
approximately S40.0o0,O00 taken by the Can
Company more than a month ago is
progressing even better than expected.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1915-09-16
POULTRY

LIVE.-The market was quiet and without
Important change Following are the quota
tons: Fowls to size and quality I56D
l6lse.; roosters, i2ql3c.; spring chickens. ac-
oording TO quality, i5d1Tc. ducks, Pekin old
13ai4c.; DO, Indian Runner. old, l2ai3c; do :
young, according to size 1ial5c.; pigeons, Old,
per pair, 1S120c.; do, young per pair 1TGlSc
DRESSED Trade was fair and the marked
ruled firm with supplies Of desirable stock we'll
under control. We quote; Fresh Killed poultry
fowls, ~ to box, dry-picked and dry-packed'
fancy, SELECTED 19c.; weighing 4hq5 lbs.
i7lfe, weighing lbs, apiece, 16ql7c.; under
y lbs, apiece ,l4hg15kc.; -packed-West-
eTn, AZ lbs. and over apiece 1Sc.; DO. smaller
sizes l5qiIe; old roosters. dry-picked, I3c |;
broiling chickens, Jersey fancy 2IG2Bc !:
other nearby fancy. 22a24c. fancy large Vol.
low, Illinois, weighing lbs. and over apiece,
2Oq2lc. other Western, weighing 3 lbs, and
over. l9e Western. weighing lika2i lbs. lbs.
apiece lsqi9c. do inferior, l6917c.; spring
squads. white, weighing liq12 lbs. per doz.'
$dg5l;1sso' white weighing 9q1O lbs. per doz.,
Saloq365; white, weighing s lbs per doz y
So o1@2;I3 Ga;sii n, DO lbs. per doz ST. ioa2.
ONO; small and No. Q 81 ~ -N' v-'ov
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1915-09-16
P. R. R. Freight Traffic Better

Continued Improvement is shown in the
movement Of loaded freight cars on the
Pennsylvania Railroad. At all but one
of the eight important junction points OF
the road in the first IA days of the pres
ent month the number of cars passing
showed an increase. as compared with
The total number of cars was 81. .939 this
year. against 329.345 last year, an In
crease OF 1854 cars. The daily average
was 1867, an increase Of 3O42. or 1913
per cent.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1915-09-16
NEW YORK CURB
New Commercial Paper Rates
ToNoPAH STOCKS.

WASHINGTON. Sept 10-A rate Of per
cent. for DO-day commodity paper, including
cotton receipts, today was fxed BY the Fed
erhi Reserve Board for the Federal ReserVe
Bank OF Richmond. Three and one half pef
cent. on trade acceptances for 90 days and 4
per cent for 20 days also were fixed.
The 81. Louis Reserve Bank was authorized
10 handle O0-day commercial paper at 4 per
cent. and trade aeeeptanees OF 90 days at 3la
The Minneapolis bank win handle 60 10 %
day commercial paper al ~ per cent.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1915-09-16
Big Inquiry for Billets

PITrsBuRcH, sept. I6.-zrhs latest trend
eonsiderable inquiry for Bessemsf bliiets' IN
me early stages Of the steel scarcity al az
mas become almost unobtainable fhe inosl,,N' ~
rwinains 10 beseemer. Consumers who = =. = =
use Besseiner are now inquifinE Tor prIces "''
basic open-hearth billets are 90 ii A.,
Youngstowns and about 81 I ton hiehSs ~.
lyered Pittsburgh, but there are no rer,,isv
offerinas Al any price Occasional otlofai lors
On heassmer are being made a SIS. YounTs..
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1915-09-16
NEW YORK CoFFEE MApnrm

NEW YORK, Sept 10-Thera Wa y.
ticular change y prices for coffee futuSeap ~
we eNchsnke today but the general undert.1ona M
crate trading. Nf1i'0e on mod
IN the afternoon dealings were mpcb ,..
&c M prices isaeted tomewhai, Final auotsttsns
49, 5o. 10 points below last nights close
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1915-09-16
War Order for Driges.seabury

The Driggs-seabury Ordnance Company
has closed an order with foreign Gov
ernfnent for war material. II Is learned
from official sources that the order was
taken at satisfactory price and will
Akeep the eompany's plant running night
And day for several months.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1915-09-16
Tennessee Copper Gets Order

An order for a large amount of sui
phuric acid is understood to have been
closed by the Tennessee Copper Company
with the Russian Government Details
OF the order are not known.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1915-09-16
LIVE STOCK oUoTATIoNs

CHICAGO. Sept, i0.-HOGs. Receipt. ia
900; market steady. &c. lower; mixed sne
butchers se 'oaSA0i good heavy tIgIs
plgs. 81: iaas2a! bulk. s6.R0aT "a
GAIT. " -heeelpts. 450i. market strons
heeyea, SAT14lo 40; cows and hefeIF Nt25i
o.; TeEens s0,7hde 40; calves 81. sOflJ.7a
SHEET, Receipts 1000: market 8 eady ~
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1915-09-16
NEW YORK BUTTER AND EGGS

NEW YORK. Sept i6-BUTTER.-Market
easy; receipts, 10, 48b packages: extra 2lji[e !.
higher scoring 20MQ21c. State dairy, 25ile
Imitation creamery, 22h02Bc.
EGGS. Market Arm; receipts 1212D mack
ares; extra firsts, 2SI4ei hrsts 28a26l5c neors
~ whites. 664dJc.i mixed color, 2OaSlc. re-
frigerator nrsts. 24925c.; nearby browns, $50,