The Washington Post from Washington, District of Columbia • Page 10

tw3r WVmlWSW 4 tl r1 i rr 4lHHHlHanBIHlnHRIilHaHWBbliilHHaBnHm Jiw tippwfmfFSmi A i 4 A fc 4 JMTSt Jf THE 4WASHINGTQft POST FRIDAY JULY 10 1914 BREAK IN NEW HAVEN Is Tanglej Over Boston and Maine Affects Stock Markets A GOUID SHARES STILL3ECLINE Crop Outiook and Situation at Washing ton However Bring AbouKHopeful Tone Generally Big Improvement in Steel licpected London Markets Weak and Irregnlar Bonds Unchanged sv BRIEF1 WALL STREET GOSSIP New York Julyi 9 Securities of recognized merit were again clearly disposed today to orealc a way from the depressing influences which recently held them In check Additional low records by the Gould issues Hock Island collateral bonds and New Haven and Chesapeake and Onto shares were without much eX feet upon the seasoned dividend and Investment jshares The further decline In the Gould securities was still without definite explanation but New Havens latest differences with the Department of Justice arising from the Boston and Maine situation and a ruling adverse to Chesapeake and Ohio by the Interstate Commerce Commission were the immediate causes affecting hoce securities Reasons for the Better Feeling To the flowing crop outlook and the point of view adopted by the administration at Washington were attributed In large measure the more hopeful feeling expressed various quarters today Suggestions of a settlement of the existing Federal reserve situation in a manner satisfactory to conservative financial Interests also were helpful Trustworthy advices pointing to marked improvement In thesteel industry were again at hand It is expected that the tonnage report of the United States Steel Corporation for June will show at least a slight Increase instead of the reverse Some of the larger iron mills are said to be booking orders for August and September delivery at advancesof one to two dollars over recent prices About the only discordant note came from abroad Irregular weakness was shown byLondon whchonce more sold our stocks at home na nere Bank Conditions lAbroad Paris cables Indicated that the new French loan had failed to stimulate any degree of enthusiasm Weekly statements of i the big foreign banks were uncommonlyuncommonly Interesting the Bank of France showing Increased advances and discounts approximating the huge sum of 50000OO0Oi due undoubtedly to the government loan The German bank contrariwise showed a large contraction of these items The Bank of England re covered a large part of its liability re serves The Ideal bond list showed varied deal jns with a few changes except in the Goulds Total sales par value were 1 SO400O United States government bonds were unchanged on call New TorkJuly Arbitrage business with London was so small as tobe of no account New Haven Railroad shares fell to anew- low record jt9day selling at 62 3 4 soon after the opening of the stock market The previous low price was 63 3 8 made a few days ago The companys differences with the Federal government in connection with the Boston and Maine road are believed to be responsible for renewed liquldatlonln New Haven stocks Chesapeake andOhfos 2 potnt break was due more to anticipation of reduced dividends which however will not have to be conslderedmtll Angustthan to the Interstate Commerce Commission decision ordering apig Iron rate reduction from Virginia to New T3ngIand points Lastyearout a total tonnageof 25 000000 tons less than 1 per cent consisted of pig Iron and blooms Itscoal tonnage then was 68 per cent Unless stockholders of the Missouri Pacific Denver and Rio Grander and Western Pacific will stand for a substantial assessment receivership would appear Inevitable from current prices It la urgent for the Missouri Paclfie to make its capital readjustment before Its notes mature next June ojysubmlt to a reorr ganizatlon now andta scaling down of capital liabilities of thirother two roads is one of the pressing exigencies of the situation The longer the financial rehabilitation of the three roads Is postponed the lower the various securities go It Is an obvious problem of improving the credit of all the Gould properties and lifting them out of the scope of uncertainty and unsettlement caused by receivership talk Positive statements were made today that the unfilled tonnage of theUnlted States Steel Corporation for June will show the first Increase since February Part of this Is due to Improved demand forhe railroads Some of the new business Is being taken at an advance of 31 to a ton Steel showed a good tone to daV i iu The Bank of France is acquiring gold faster than the metal Is produced Since the opening of May its stock of gold has Increased 386000000 an amount equal to the annual production of the United StateaThls gold would have been enough to Insure the success of the French loan without that which washldden In stock ings and teapots of the peasants hV U4S TS Ur HOLLAND WRITES OF wtf i Legislation thatMay Force the NeHaveitlntoXourtr I LOCAL FINANCIAL AND BUSINESS NOTES SPOILS EEYKOLDS PLANS Action bjassaehnjet Lawmakers Likely tbyPreventDiiposal of Boston nd MainegSeclirrkeh7Jul7 15 President JEUiott Breaks Down and Is Forced to TakYResUa the Woods jf oiiowinjf tneirena or ounness ai omer financial centers and also because of the absence of many nTemberaf exchange on their summer outing business at the Stock Exchange yesterday proved unusually dulL This however ls not unusual at this time ofyear and should therefore not be taken as an Indication that Investors are afraid to buy or that securities do not offer promising Returns The total amount of business transacted at yesterday session of the Stock Exchange consisted of two sales Seven shares of Capital Traction stock brought 981 4 and 31000 Railway and Electric bonds sold at 83 LOCAL SMCK EXCHANGE NEW YORK STOCK MARKET THURSDAY JULY 9 19W Sales Closing HlLwbId 78001 100 100 1B00 300 18001 600 4800 200 100 1000 800 900 100 300 1600 300 900 100 1000 900 15100 100 100 300 400 71tf 54 31 52 31 66V4 103 107 121 600 100 1500 1600 100 800 300 NEW1 Y0EK BOND MARKET New York July 9 American Agricultural 5s 1005J Americait Cotton Oil 5s 95 American Tel Tel cv 4Vis 9S American Smelting 6s 104 American Tobacco 6s 122 Armour Co 4s 824 Atchlsonigen 4s 95 Atchisoncv 4s O960 99 Atlantic Coast Line clt 4s 92 Baltimore Ohio 4s 94 Baltimore Ohio cv 4s 91 54 Bethlehem Steel ref 5s J1 8GU Brooklyn Transit cv 4s 87 Central or Georgia ds Central Leather 5s Chesapeake Ohio 4s Chesapeake Ohio cv 4s Chicago Quincy joint 4s Chicago IB Quincy gen 4s Chicago Great Western 4s Chicago Sill St cv 4s Chicago Mil St gen 4s Chicago I Pac clt 4s Chicago JR I Pac Ry ref 4s Chicago Northwestern Ss Cojoradol Southern ref 4s Ttanwr JAiRIn Grande ref 5s Distillers Securities 6s 69 4 Erie cvs series 71 Erie geni 4s 73 General Electric 5s 105Tb Great Northern 1st 4siYt 100 Illinois Central rer 48 rsz Interborough Met 4s 77 Kansas City Southern ref 5s 95J4 1041J 994 94 7S 97 74 101 102i 27 77 83 tS6 300 775 100 1100 Amal Copper Amer Agricultural Amer Beet Sugar Amer Can Amer Can pfd Amer Car Fdy Amer Cotton Oil AmerIce Securities Amer Unseed Amer Locomotive Amer Smelt Refln Amer pfd Amer Sugar IRefln Amer Tel Tel Amer Tobacco Anaconda Mining Co Atchison Atchison pfd Atlantic Coast Line Baltimore Ohio Bethlehem Steel Brook Rapid Transit Cal Petrol Canadian Pacific Central Leather Chesapeake Ohio Chi GreatWestern Chi Mil St Chi Northwestern Chino Copper Colo Fuel Iron Consolidated Gas Corn Products Delaware Hudson Den Rio Grande Den pfd Distillers Securities Erie Erie 1st pfd 43 trie ju piu General Electric 149 31 99 99 120 92 42 91 19 1931193 36 36 70 64 25 27 91 52 9 31 65 103 107 120 31 99 99 120 91 42 91 19 Salesj Closing HiLwbld 50 14 991 131 40 47 14 99 131 40 130 149 8 14 14 29l 129 148 7 12 14 28 43 200 200 100 Goodrich Goodrich pfd Great Northern pia Northern Ore Ctfs Illinois Central Interborough Met Inter Met pfd Inter Harverter Inter Marlne pfd International jPaper International Pump Kansas City Southern Laclede Gas 25 88 125 149 25 88 124 14 10 28 92 14 9 28 92 70 53 25 27 91 Bl 39 29 8 30 65 102 106 120 28 31 99 9973 120 91 42 91 19 193 36 47 13 100 in 40 25 XS972 8 147 7 13 28 43 35 148 25 88 124 30 114 14 62 107 9 7 3 27 90 13 91 63l 23 13 89 61 22 111 110 113 121 71 1112 121 mn 1 7000 Lehigh Valley 139137 200 Lou Nashville 139139 500 Mex Petrol 61 61 200 Miami Cop 22 22 200 St a 12312S 1200 Mo Kan Tex 16 15 26900 Missouri Pacific 12 11 200 National Biscuit 132 1132 National Lead Rys of 2d pfd 200 Nevada Cons 2900 New York Central 11600 Hv 300 Ont West Norfolk Western North American 2800 Northern Pacific ii Pacific Mail 900 Pennsylvania 200 Peoples Gas 100 Pitts St Pittsburgh Coal Pittsburgh Coal pfd Pressed Steel Car Pullman Palace Car Ray Con Copper Readings Rep Iron Steel Rep I pfd 300 Rock Island Co 2700 Rpck Island Co pfd St 2d pfd Seaboard Air Line 200 Seaboard A pfd Sloss Shef I Southern Pacific Southern Railway Southern Ry pfd Tennessee Copper Texas Pacific Union Pacific Union Pacific pfd Realty US Rubber Steel Steel pfd Utah Copper Va Calo Chemical Wabash 2000 Wabash pfd 800 Western Maryland 6200 Western Union 9300 Westinghouse Elec Wheel Lake Erie 800 600 100 800 10100 100 9200 600 100 600 8600 100 100 300 21300 500 5000 100 43 156 21 165 22 1 2 90 43 156 21 163 22 54 24 1 2 54 33 15 156 82 60 60 62 1109 68 29 3 18 60 78 97 24 33 14 155 82 60 59 61 109 57 2H is mi 76941 138 138 61 22 123 16 11 130 45 11 13 61 22 105 75 110 23 112 120 70 19 90 43 155 21 164 22t2 84 1 2 4 18 54 25 97 2 79 32 14 155 82 59 59 61 109 57 2 17 69H 77 3 xr New YokruJyJ Both Attorney General McRexnoldSr of theDepartment of Justice at Washington and Howard El liott chief executive pt the New Haven Railroad system with his directors reached an agreement eaHy In the spring wherebythe pendlngauitlfor the dlssblu tlon of the New Haven Railroad system coma be avoided Sufficient time was fixed upon for perfecting tlie arrangements whjch wouldbe necessary If there were to beyeluntry dlssolutlon Yetan extraordinary situation unparelleled prob ably In the history of litigation has arisen TThese two parties the Attorney General and the New Haven Railroad Company find themselves suddenly embarrassed by reason of the legislation which It has been deemed expedient for the Massachusetts legislature to adopt Unless some satisfactory arrangement be made whereby the Boston and Maine Railroad property can within a certain prescribed time be delivered over to Independent purchasers then It Is not improbable that the Attorney General will find it necessafylo bring proceedings in the Federal court on July 15 for the dissolution of the NewHaven system fPartof the Agreement Stands There have already been agreements perfected which will make it possible for Total sales for the day 197600 shares Ex dlv BALTIMORE SECURITIES Lake Shore deb 4s 1931 LigSett Myers 6s LoriUard5s Louisville Nashville un 4s Missouri Kan Tex 1st 4s Missouri Pacific cv 5s New York Central gen 3s New York Central deb 4s New York Central 4s 1963 93 102 102 95 86 49 S2i 89 107 New York State 4s 110 New York Railways adj 5s Hartford cv 6s Norfolk fit Western cv 4a Northern Pacific 4s 4s 53 108 n05 95 67 91 96 Baltimore July 9 Stocks Bid Asked Maryland Trust com 110 111 Maryland Trust Dfd 118 125 Con Power pfd 115 Con Coal 95 Houston Oil 12 Utd Co 27 Bonds Baltimore City 4s 1961 Con Gas 4s 95 New Or Mo Chi 5s 42 Brew 1st 4s 25 Pa 5s Utd Co 1st 4s 83 Utd Co inc 4s 63 A 6s 83 115 97 14 27 8S 27 91 63 84 BOSTON CLOSING PRICES 17 35 9 4 99 100 Oregon Short Line ref Pacific Tel Tel os Pennsylvania cv 3s 1915 Pennsylvania con 4s Ray Consolidated 6s 113 Keaaintr pen 4s Republlcl Steel 6s 1940 94ft St Louis San Fran ref 4s 70 St Louis Southwestern con 4s 68 Seaboard Air Line adj 5s 77 Southern Bell Tel 5s 98 Southern Pacific cv4s S6 FouthernPacific ref 4s 92 Southern Railway Es 105 Southern Railway gen 4a 73 Texas Company cv 6s 102 Texas Pacific 1st 100 Third Avenue adj 6s 79 Union Pacific 4s 93 Union Pacific cv 4s 91 Rubber 6s 102 Steel 6s 102 irginiaTCaroima cnemicai Wabash 5s Western Union 4s Westinghouse Electric cv 5s Bid toftered sm 103 91 95 Boston July 9 Closlngprlces Centennial Copper Range Con Co East Butte CopT Mine Franklin Granby Consolidated 79 Greene Cananea 28 Mohawk 44 Nevada Consolidated 13 Nlpissing Mines 6 North Butte 24 North Lake 1 Shannon 5 United Fruit 139 Utah Consolidated 10 Utah Copper Co 57 NEW YORK COTTON New Tori July 9 More firortble weither reports from the Southwest eoit the cotton market todays early adTincs tnd the cloie wis iteidy at a set decline ot 12 points to an advance 4 points near months beinj relatively easy while new crop positions were 3 points lover to 4 points higher than last nights closing flgures Fntures Open High Low Close July 1239 1240 1229 1229 August 1235 1233 October 1217 1223 December 1228 1235 January 1224 1231 March 1229 1235 1220 1212 1225 1221 1226 1220 1213 1226 1223 1228 the kNewrHavencompany to part with some of the properties which the Attor ney General is convinced were acquired and held in violation of the Federal statutes All that remained was the taking from thecontrol of the New Haven Its authority over and Interest In thejBos on and Maine Railroad properties -So probably unprecedented record may be made of Judicial proceedings In I the name ofthe people being brought by the Department of Justice at Washington against this corporation although it has agreed to part with the properties having made that agreement with the At torney General In Washington as well as In this city It has not been possible to obtain a sat lsfactory statement of the reasons which have in the wisdom of the Massachusetts legislature persuaded rthat body to act aB It recentlyhas done Whatever be the reasons the recent legislation seems to have put Inperll the agreement between the Attorney General and the NewHaven Railroad Company and not 5 because of any mistaKe iy or misunderstanaing or fault ofj either oft these parties Attorneys Urged a Test Unless there be some composition of this embarrassment before July 15 the New Haverr Railroad will be compelled to defendthe suit which will be brought by the Attorney General Sometimes wonder has been expressed that the New Haven management did not venture at the beginning to test the issue with the Department of Justice Some of the ablest jawyera of BostonTof New York and of Washington havealways heen persuaded Jha theeharices are that the courts would decide that the New Haven company did not violate the Federal statutes when JtC secured control of the Boston and Maine property These oplnionshoweveKare conditional upon the viewthat the Supreme Court of Washington may taketiipon the question of monopolistic qontrplrt Excepting In a few trifling instances the New Haven Railroad Companys lines do not parallel those of theBoston and Maine nor are these lines in the usual meaning of the term competitive The Boston and Maine property stretches northerly northeasterly and northwesterly from Boston and reaches aa far West as the West Shore Railroad near Schenectady Sales Regular call 12 oclocknoon Wash Ry ft Elec 4V 11000 at 83 Capital Traction 7 at 98U GAS BONDS Bid Georgetown Gas cert indSs 05 Georgetown Gas 5s 4J Washington Gas Js 106 Columbia Gaa and Elec 6s 68 Col Gas and Elec deb 5s 40 RAILROAD BONDS Capital Traction Co 5s f107tf City Suburban Ry 5s 102 Columbia Ry 2d mtg 5s MO Columbia Ry 6s 100 Metropolitan 63 W3 wasn Ry Elec 4s Wash Alex Mt Yer 6s MISCELLANEOUS BONDS Pot Elec Pow Con Mtge 8s 99 Pot Elec Power 1st 6s rx 104 Cand Telephone 5s 103 a Amer xeit ana Tel con as Amer Tel and TeL cv 4s 85 and Steamboat 5s 104H Rlggs Realty Long 5s 101 Riggs Realty Short 5s 100 PUBLIC UTILITY STOCKS CapitalTractlon Co 98 Wash Ry Elec com 85 Wash Ry Elec pfd 83 Wash Balto An com 9 Wash Baltoand An pfd 32 Washington Gas 77 Columbia Gas and Elec 9 Amer Tel Tel Co 119 TYPE MACHINE STOCKS Mergenthaler Linotype 214 Lanstoh Monotype 80 MINING STOCK Greene Cananea Copper 27 NATIONAL BANK STOCKS American 7157 Capital 7 210 Columbia 250 Commercial 188 District 140 Farmers and Mechanics 235 Federal 135 Lincoln 162 Metropolitan 190 Rlggs 525 Second 150 Washington 240 TRUST COMPANY STOCKS Amer Security Trust National Savings and Trust 267 Union Trust Company 130 wasn Lioan a Trust ssu Continental 115 SAVINGS BANK STOCKS Home Savings Bank 375 Union Savings Bank 130 Commerce and Savings 13 East Washington Savings 13 FIRE INSURANCE STOCKS Arlington 12 Corcoran 80 Firemens 19 German American 260 National Union 6 TITLE INSURANCE STOCKS Columbia Title 5 Real Estate Title SO MISCELLANEOUS STOCKS Chapin Sacks Co 190 of Paper Mfg Co 110 Mer Trans and Storage 107 Security Storage Co 200 Washington Market 17 Ex dividend Asked 105 107 108 108 99 10a 103 102 90 85 I0CAI PRODUCE MARKET COMEDIANS TO UMPIRE Schaefer and AItrock Will Act at Alexandria Ball Game NINES TO PLAY FOR HOSPITAL FINANCIAL 35 77 WHOLESALE PRICES POtHTBT A11t Spribf ehiekena jlgK hens turkeys HSi BUTTEll Elgin fancy lb 89 prints ID process fancy UafSjT CHEESE New Torlc State factory new large TGGSr Nearby fresh Virginia WestVlr gts lav and Jsotothern Virginia 20 VESETXBLES Potttoss Maine State per each J00O350 Michigan potatoes 1000125 new poti tesi 4S8iSI per barrel yams lSOSLM lettuce RO100 per basleti peppers lEO200 per crate peas 4E0Ot00 per barrel spinach perbbl 2M2M okra100QL2S per crate car rotsv10tM Pir bunch beats per 100 100200 string beans 100Oti5 per basket S00360 per bbLeirplnv 10CS3CO per crate cucumbers SO 100 per basket tomatoes Florida l00ffil50 cab bafts BO 100 per crate South Carolina cauliflower TiTeelery M3100 per dot 1OO02EO per crate Romalae lettuce 750100 per bbl cym bllnji 2040 per crate kale 507S per bbl Urhpsr20Sper bunch asparatjusi00ffiZE0 per 1 doz Vlrilnla onions 5500800 per bbL North Carolina com 009150 per crate OREEKi FRUITS California loranjes il2SOL 50 per box lemons 2750325 per box pineapples Csban 1750325 per crate apples 300OS50 per bbl Florlda oranges J75O100 Florida irape frclt 250O400 per box blackberries 8U huckleberries IOU contalouperp 150O275 per crate watermelons 20S30 apricots 2 000250 per crate curranu juiih per qt raspberries so IB per qt peachu 2000300 per crate plums 5S per qt gooseberries 108 per qt a 1 WASHINGTON CATTLE MARKET Hot Contest Between Teams of Masonic Fraternity Expected Next Wednesday When Clark Griffiths Men Will Be the Judges Gate Receipts to Go to New Institutions Building Fund 215 210 250 160 243 290 120 IBegSt per lb li sheep per lb 45 veal calres choice per lb 10010ft sprint lambs 109 With moderate receipts of Teal calves and spring lambs the market la firm and actlr at figures quoted FURNACES IN OHIO CLOSE Iron Production Cat From S2to39 Per Cent in a Week7 Further XJurtailment in Sight When the Union Furnace Goea Out of Blast inAugust WASHISaTOM POST BUHBAD 70S Xing Street Alexandria Va Old Fox Griffith jnanager of the Na tionals has assigned his two comedy stars Germany Schaefer and Nick Altrock to serve as the official umpires at a game of baseball to be played in this city next Wednesday afternoom between learns representing Alexandria Washing ton Lodge No 22 and Andrew Jackson Lodge No 120 A and A The gate receipts will be turned over to the Alexandria Hospital building fundL and the triple combination of umpires amateur baseball players and worthy object encourages the promotersrof the game In the belief that there will be a large attendance Manager Griffith is popular with Alexandria baseball fans and has been entertained by them on several occasions When the proposition to allow Schaefer and Altrock to perform In this city was placed before him by Corporation Attorney Fisher he readily assented it Is stated Police Make Red Light Raid Sergt Scott and Policemen Kerns and Rawlett raided a house in the old red light section of the city early yesterday morning and arrested a woman and four men The woman was charged with con ducting a disorderly house and was re quired to leave 100 for her appearance In the police court this morning The men deposited 10 each Two cases of this character will come before thet police court this morning ahd both of the accused have engaged counsel The orderorder closing the segregated section was issued by Judge Barley of the corporation court and ibecame effective June 16 Mayor Fisher has Instructed the police to strictly enforce the courts order DAILY COTTON MARKET New York July 1914 FORT MOVEMENT Mdlg Receipts Exports Sales Stock 230 220 UNITED STATES TREASURY 30188281 324503172 22622981 1744677762 1311537329 CHICAGO GRAIN CURB MARKET New York July 9 CurVquotations Bid Asked Adams Express 4s 75 AnvCari deb 5s 7 94S Braden 6s 155 794 2iy 22 3H 23 Braden 1 Brit Am Tob Brit Arn Tob new Cons Gas rts Goldflela Cons li Gold Hill Intercon Rubber 6 Kerr Lake 5 La Rose Cons It Coal Sales i 170 Mason Yalley 2 Manhattan Transit Marconl new 24 Marconi Canadian 1 Nlpissing Mines 5 Biker Hegeman Co 9 Standard Oil ex subs 406 vTobacco Prod pfd S3 Yukon Gold 2H United Cigar Stores 93 United Cigar Stores new 9i UWted Cigar Stores pfd U0 GOVERNMENT BONDS 77 S4 160 1 22 22tf 3Ts 29 VA 7 5 1 ISO 3 3 1 6 94 408 ss 94 9tt 115 Chicago July Corn took the lead en change today both in aetlrity and strength Drought damage as well ae the bullish construction placed on the government report prepared the way for a decided change The market closed strong9 H4c above last night i In wheat the Outcome was unchanged to USUo lower and for oats a gain of HUc to He Provisions wound up with VAc to Uttc net advance Cash grain WHEAT No I reUSH40S3 No 1 hsrd 83 No northern 88H989H No 2 spring E708S CORN No 2 yellow 70U70H OATS Standard SIH38H RYE No 1 nominal No C6tt BARLEY 18o8 Wheat July Sept Corn July Sept Oats July Sept Pork July Sept Lard July Sept Ribs July Sept Open 78 78 68 65 37 35 2300 2050 1010 1025 1187 High 79 78 68 66 37X 36 2250 2060 1012 1027 1195 1190 Low 78 78 68 65 87 315 2200 1010 1022 1192 1187 Close 79 78 0ST4 66 37 S5li2 68 1894 4 Hi 2535 20S54 7893 1218 0 738 IMS 35 285 1100 67 New Orleans Uft Galveston 134 Mobile 134 Savannah 13 Charleston nom Wilmington nom Norfolk 13H Baltimore 13 Boston 1320 Philadelphia 1360 New Tor 1815 Minor ports Total today Total week Total season M6S3 87741362 INTERIOR MOVEMENT Mdlg Receipts Bhipts Sales Stock I fl113 85822 6970 14312 1835 10719 19725 4845 8500 1901 518 112593 2557 13833 340140 34142 Houston 13 A 440 Memphis 13 234 Augusta lift 22 St Louis 1SH 253 Cincinnati 831 HtUe Rock 13 38 Total today 1813 8717 I053S 180 20719 2H 34 14592 745 18908 327 13485 483 13523 3787 119320 NEW YORK PRODUCE receipts 2250 26 57 1010 1025 1192 1190 New York July 9 July 8 July 9 tl refunding 2s registered 96 96 refunding 2s coupon 97 97 Uv 3sj registered 101 101 3si coupon 101 101 TXS 4s registered 109 ios Uv 4s coupon 110 lib Panama3s coupon 101 401 NEWY0RK MONEY MARKET iwTork July Call money flrmt 2VJ3JH per tent ruling rate Ii closing H8Hi iTlme joins taker 80 das 2H Per centv90 days 24 I months 3 Mercantile paper S4 ster liHK exchange rstler SO days 48355 demand 4 875 Cpmmcrclsl bills 483S435r Ear siher 8H Mfllcan dollars 44 Government bonds steady railroad bonds easy NEW YORK GRAIN Kew York July WHEAT Spot Irregular new No 2 hard 88 and new No red VA July shipment NewYorkr Ko 1 Northern Du luti X00 and No 1 Northern Manitoba 100H afloat Futures were easier early on the government report but rallied on covering on black rust reports July 9K September 87H December 90H CORN Spot Arm No 2 yellow 76X tf to arrive OATS Spontesdy BARLET Steady New Tork July 9 BUTTER Steady 9000 tubs Creamery extras 28027K CHEESE Steady and unchanged reoelpts 2100 boxesl EOCS Irregular and unchanged receipts 18300 cases FOULTHYr Dressed Dull Western chickens frozen 14 20 fowls 12HG19 turkeys 25928 Alive weaker Western chickens broilers 1720 fowls 1617 turkeys 15 FLOUR Easy spring patents 4400480 winter straights 400420 winter patents 4250450 extras No 1 winter 8600385 FORK Firm family 2300000 short clear 19752100 LARD Firm middle west 101581025 COTTONSEED OIL Eaiy spot 720728 July 721G725 August 728e7 September 783 734r October 715ff717 November 79880 December 66SSPS70 January 668871 February 66SS75 RAW SUGAR Steady molasses 281 centrifugal 326 refined steady COFFEE Quiet iKloiNO 7 Santos No mud auu coroova iz wis BALTIMORE HARKETS UVE STOCK MARKETS New York July 9 BEEVES Receipts 2000 head No trading CALVES 220 Steady Veals 95001200 culls 700C300 buttermilks nominal 2 SHEEP Receipts 5000 head 3 Off 500 lambs 7T5C850 culls 700 hjl HOGS Receipts 1200 head Mixed Boottero 8 50 I-Chicago July HOGS Receipts 17000 head tronjr Bulk of sales 850888 light L40Q Itm mliedJOS S5 heavy 8150855 rough 8158833 pigs 740t60 CATTLE Receipts 8000 lead strong Beeves 7609975 steere 40418 30 siockers ant feeders E5800t cows and heifers S5C900 calves 750910 80 SHEEP Receipts 18000 headr steady Sheep StoffSlsr yearlioss 6M750 lambs 8605935 Baltimore July OATS No 2 standard white 43343U No i white 424042 POULTRY Alive Chickens old hens heavy per lb 18 do small to medium pet lb 18 do old roosters per lb 10011 do young large per lb 20323 doW rough and straggly HS5 do spring averaging to 1M lbs 20 22 do smaller springers per lb IS 19 ducks per lb 11012 do muscovy per lb 11012 spring ducks 3 lbs and over per lb 16018 do spring white Pe klns per lb 17 do spring puddle 8 lbs and over per lb is pigeons young pair 20 do old pair 20 EGGS Maryland Pennsylvania and nearby firsts doien20 West Virginia firsts dozen 20 Southern first doten 19 BUTTER rCresmery fancy per lb 28S28U do choice per lb 27028 do good per lb 2414025 do prints 28H930U Maryland and Pennsylvania rolls is umo ana west Virginia reus 174 dairy iprints 18 store packed 17H Maryland Virginia process butter 21028 THE METAL MARKETS i v1 New York July 8 30PPER 3uiet Spot and September as40O1380 Electroiytie Un laka nominal castings 1362 London copper easy spot tsriOs futursf62 fe IRON Quiet and unchanged Cleveland warranti Bis 4Hd in London Oil City Pa Jury 8 Ct41t balances 8L7S Sons 189477 averaga 94112 Shipments 110835 average 88280 PHxXADELPHIA MARKETS Philadelphia July Markets uaeliantsil Likely to Define Monopoly On he lotner1handt lawyers say that the Supreme Court might flndv that the control of these two New England rall zjroad systems byjrae central authority created itrue monopolistic conainons in the New England Jerrltory Should the court reach a Judgment of that kinds opportunlty would be given to It to furnlsiMtsview qf what real dangerous monopoly and what normal and on the whole healthful monopoly In railway contrnrtaftdmanagement is At one tlm or another the courts have at least inferentially admitted that every railroad company is In a certain way a monopoly and cannot help acquiring thatcTiaracterJstlc In thepro ceedings which resulted In the compulsory dissolution of theUnlon Pacific and Southern Paciffc railroad systems the decision was based upon the view that these two Pacific lines were naturally competing lines and that it was for the welfare of thepublic thatithat competition be maintained ITewianagenient Seeks Peace But in thecase of the Boston and Maine and the New Haven companies the court will be compelled to consider whether the two systems are naturally competing or else to pass judgment upon the questions Would a union of these two eystemsresultun me creation oi a monopoly from which the public should be protected If the New Haven company la compelled to go Into court It Is certain to make the best deferiseposslble although there is no doubt that at this time the new management of the IXew Haven property would le glad if therej could be peaceful separatlonoMhe Boston and Maine from the New HaveiCPlf the New Haven company could gei back the money which It paid for its Boston and Maine Interests tt would begladto part with the property on those terms The litigation if It isto be begun and carried on should he of great Importance to railroad Interests all over the United States for5 it would offer an opportunity Jfor judicial Interpretation of several questions3 upon which the Supreme Court at Washington has not yet passed gz EUiotttederetttoCTake a Rest To show how helpless tho New Haven company Is with Tespeet fo this matter it is sufficient to say that the directors practically compelled the chairman Xthe board Howard EMott to go away to find some placeinthe woodswhere he could not be brought Into contact with business affairs so that he might within six weeks berabre to regain s6me of the strength and mental vigor which his ex haustlng work of the past ten months has somewhat Impaired MroElliott began servkewlth the New Haven feorporatlonT on September 1 of last year Sine that time he has been alm6st xcluslvely occupied with his ef forttosquaro the relations of the company with the vlewtaken by Attorney General McHeynolds at Washington The TiaUyr and technical operation of the linea has been committed to subordinates For long stretches Mr Elliott has worked from sixteen to eighteen hours a day chiefly upon the questions which the relation of the railroad to the government have raised Work of this kind involving both mental arid i physical activity begins to sap strength after a while and it was for this reason that the directors of the New Haven system 4urged XJj Elliott to take a vacation of some six weeks He has gone Into the woods and the fact that he has gone at this time makes it Certain that the NeyHayen company regards itself asuunabU soJtQ act being bound by Its agreerneritrwlth he Attorney General as to inate iC unhecessary tot the Attorney 1fleatOein Judicial pro ceedlnxs VZ HOLiAND Transactions and financial condition July 8 1914 Revenue receipts this day Ordinary disbursements this day Excess disbursements this day uL Revenue receipts this month actcuuo ictciyia uurxe spondlngmonthlastyear Revenues receipts this fiscal yearJto date 1744677762 revenue receipts last nscal year to date Ordinary disbursements this month Ordinary disbursements cor respondlns month last year Ordinary disbursements this fiscal year to date Ordinary disbursements last fiscal year to date Generalffund assets and liihllltie in Treasury offices Gold coin 137837551 Gold certificates 6991234300 Standard silver dollars 663205400 Silver certificates 1085191800 United States notes 846796700 Treasury notes of 1893 1132300 Certified checks on banks 81330478 National bank notes 3273191506 Subsidiary silver coin 2196047435 Fractional currency 14322 Minor coin 212538292 Silver bullion 286399335 1311537329 1577128949 1577128949 1992879242 Special to Th Washington Post Cleveland Ohio July 9 The Daily Iron Trade says Practically one third of the merchant blast furnaces active in Ohio on July 1 i niuiojraiauj1 wceniiater ine list of four furnaces which were blown out the latter part of last week was sup plemented Tuesday when Corriganr Mc Kenney Co of Cleveland placed one of their river furnaces on the Idle list Furnaces which blew out last week were the Lawrence of theMartlng Iron and Steel Company the Hamilton of the Hanging Rock Iron Company the Cherry Valley of MA Hanna Co and one Wellston of the Wellston Steeland Iron Company Of 31 merchant furnaces in Ohio 12 were producing pig iron on July 8 while 19 were out of blast On July 1 17 were active and Mwere idle The Jisco furnace of the Jackson Iron and Steel Company and the Norton of uioii ul tuiiutuu ivy orKs oi Asnianaiy joined the idle list in June The present rat of blast furnace operations among Ohio merchant furnaces Is 39 per cent compared with 62 per cent a week agio The Unlon furnace of Ttogers Brown Co which is one of the two actlve blast furnaces In the southern Ohio district will go out of blast on AugUstl Is THis the Kind of Bank You Want to Bank With The Munsey Trust Company has ra capital of 2000000 It started right with its capital fully paid in before it opened its doors for business Capital renough to make it as solid as the Rock of Gibraltar It pays 2 interest onchecking accounts It pays 3 interest on ordinary savings accounts It pays 4 interest on special savings accounts Interest compounded monthly twelve times a year on the 2 accounts and four times a year on the 3 accounts twice a year on the 4 accounts and interest so figured that the depositor gets a Square Deal There are jio rules no penal ties no subterfuges with us that whittle down the rate Of Interest and your money draws interest every day it Is in The Munsey Trust Company however long or short the time and every Dusiness day in the year Is deposit day The Munsey Trust Company Is a serious substantial bank conducted on sound business lines Its methods are clean clear cut and straightforward It has no favorites it treats all men the same treats the big man no better than the little man and treats all alike with well considered courtesy If this is the kind of bank that appeals to you we should be glad to have you open an account with us Measured from every angle the Interest we pay and the way we figure Interest and the strength and substantiality of The Munsey Trust Company is there any other bank anywhere where you can do as well 7 Think this over it is very much worth your while FRANK A MUNSEY President Total In national banks In treasury Philippines Total assets in general fund Subtract liabilities 20774919419 6483471464 484326548 127742718431 13288900205 WHEAT CHEAPER THAN C0EN Net balance in general fund 14453818226 Total cash assets in general fund 27742718431 Gold and silver in trust funds 157099786900 Gold in reserve fund 15000000000 Total cash Treasury assets of Bank notes received for re demption this day Ti998 42505331 136855940 PROXIES DELAY RESULT Commercial Fire Stockholders Vote on Capital Reduction Adjournment Until Monday Next When Announcement Will Be Made on Outcome of Balloting Anomalous Conditions in Kansas Due to Partial Crop Failure Last Year Wheat sold at only 14 cents a bushel more than corn on July 1 according to the average of prices for all of the States Just announced by the Department of Agriculture In Kansas corn was selling for 7cents more a bushel than wheat This was due to the failure of the Kansas corn crop last year and the extraordinarily fine prospect of the wheat crop there this year The average price of wheat for the country on July 1 was 769 cents a bushel This Is 193 cents less than the July average for the past five years In North Carolina the price was 105 while In Oklahoma it was 64 cents a bushel 3 The average price of corn was755 cents a bushel or 6 cents a bushel more than the average July price for the past five years In Iowa corn sold at 63 cents In North Carolina 93 cents With compelling In Kansas for about 7 cents more per bushel than wheat it Is not surprising officials say that much wheat should be consumed as feed by animals Kansas corn crop last year was only 23000000 bushels compared with the usual production of 150000000 bushels This years estimates are fora crop ot 150000000 bushels of wheat It is estimated that about 45000000 bushels of wheat of last years crop was consumed as animal feed A meeting of the stockholders of the Commercial Fire insurance Company was held yesterday afternoon to pass on the proposal made by its board of directors and trustees for the reduction by half of the companys capital stock The resolution which was presented provides that the par value of the stock be reduced from to 250 per share and the difference be1 transferred to the surplus after deducting 60 cents per share which fund is to be distributed among the share holders After the selection of a board of tellers composed of A Stewart chairman Russell Rankin and WPowers the stockholders adjourned until 4 oclock Meantime the tellers canvassed the votes of the shareholders voting In person and the nroiles submitted to determine wheth er or not the required two thirds ofl the stock was represented and which proxies were valid for voting There being an unusually largenumber of proxies the tellers did not finish theirwork and the meeting adjourned until Monday he election of a board of directors will take place today The hearing on the petition filed In court several weeks ago by a group of stockholders asking the appointment of a receiver for the Commercial Fire Insurance Company has been postponed at the request of counsel for petitioners until July 20iMr Easby Smith counsel for the petitioners said he made 4he request to determine what action the shareholders of the company would take on the proposed stock reduction and that the court might Tiave opportunity to ex aminev the report of the superintendent of Insurance 1 Paris to Issue 44400000 Bonds Paris July The municipal council of Paris today authorized the issue of a loan pf 44400600 at 4 per cent forming the second Installment of a municipal loan of 180000000 voted by the council iln 1912 SH0HTP0STAGE HURTS THADE Business Men Are Urged to Fully Prepay Foreign Correspondence Claiming that the numerous cases of insufficient postage on letters sent by Americans to foreign parts is liable to have a far reaching effect In retarding foreign trade the Department of Commerce has Issued a statement urging businessbusiness men to affix the proper amount in stamps on correspondence going out of the country Postmaster General Burleson has also been requested to cooperate With the department In this matter Consular reports says the department seem to indicate a general failure on the partof American business men to realize the very great Importance of having the proper postage affixed to their foreign correspondence Disregard of this detail has a tendency to prejudice foreign buyers against American firms and this prejudice might easily develop into a considerable factor in retarding thenat Ural growth of our export trade Secretary Redfleld has brought this matter to the attention of Postmaster General Burleson requesting the cooperation of the postoffice department in bringing its im Postoffico Department in bringing its lm persons la this country Fireworks Dealer Fined 15 An ordinance prohibiting the sale of fireworks in this city applies to the sale of explosives to nonresidents as well as residents regardless of where they are to be used according to a decision handed down by Police Justice Caton yesterday in the case of Hugo Herfurth charged by the police with having sold fireworks on July 4 Three cases were urged against the dealer and a fine of 5 was Imposed In each case Mr Herfurth testified that he had made sales only to those who assured him that they would take the explosive beyond the corporate limits ot the city and his attorney Howard Smith noted an appeal to the corporation court Corporation Sued for 40000 The entire day In the United States court for the Eastern district of Virginia Judge Edmund Waddlll Was consumed yesterday with the hearing of testimony in the suit of Hutchinson to recover from the New York and Pennsylvania Company a corporation 40000 alleged damages in connection with acon tract for the removal of timber from a tract ofland in Prince William county The case probably will go to the Jury tomorrow Girl Accused of Theft Elizabeth Bryant colored 12 years old charged with the larceny of rugs and a go cart the property of Mrs Ogdenfrom a locker In the basement of the Fairfax apartments was arraigned in the police court yesterday morning and turned over to her grandmother for punishmentpunishment The girl was warned that she would be sent to the reform school if she committed such an offense again Railway Company Has New Station The Washington Virginia itauway Company has established a station at the south end of Royal street adjacent to St Marys Catholic Cemetery to be known as St Marys The new station will be a great convenience to visitors to the cemetery and others Three Taken to Penitentiary NoahWaddyt sentenced in the corporation court to serve three years and Thomas Roddy and William Phillips one year each were yesterday conveyed from this city to the penitentiary at Richmond by Johnson a guard from that Institution Seminole Company to Decrease Stock The State corporation commission has granted an amendment to the charter of the Seminole Land and Investment Company of Alexandria authorizing a decrease In its capital stock from 550 000 to 397600 FORECLOSURE ON THE FRISCO CAPITAL 1000X SURPLUS 2000000 The Riggs NATIONAL BANK PENT AVE OPP TREASURY Travelers Checks MORE CHEERING CROP NEWS Growing Conditions Described in Agricul tuial Department Bulletin Crops of the United States on July 1 were lnabout 14 per cent better condition than their composite ten year average on that date Last year said a Department of Agriculture bulletin yesterday theJuly 1 condition ofall crops wasL7 percent belowJthe ten year average but prospects declined as the season advanced the November or final reports last year being 67 per cent below the ten year average Consequently present conditions are about 87 per cent better than the out turn of crops last year The growing condition July 1 of minor crops not announced In yesterdays re port was made public today Crops above the ten year average were pears 10 per cent alfalfa 66 lemons 49 oranges 46 grapes 35 hops 32 sugar beets 31 broom corn 27 cantaloupes I beans dry 08 millet 07 raspberries 04 Crops below the ten yar average were peaches 07 per cent cotton 14 onions 46 pastures 63 peanuts 65 cabbages 67 sorghum 67 blackberries S2 sugar canei 88 lima beans 91 tomatoes107 temp izir clover nayr xu Guaranty Trust Goes to Court ti Collect 68666000 Mortgage St Louis July 9 Foreclosure of a mortgage of 68666000 on the St Louis and San Francisco Railroad was aeked in the United States District Court here to day by the Guaranty Trust Company of New York Tne railroad ianow in tne hands of receivers The petition asks that the mortgage be declared a valid lien against the property which it covers which includes a large part of the Frisco system The mortgage was given to secure a series of refunding 4 per cent bonds issued in 1901 The petition says that the accrued Interest on the bonds is 1373000 FINANCIAL Thilman Hendrick HEXDRICK BUILDING 734 15th St Member Washington Stock Exchange Manager Manhattan Life Insurance Co of New York 7 Loans on stocks and bonds SecbndTrust NoteffBought and SokU Letters of Credit Foreign Drafts Banking Business Invited Sound and Profitable Investments Made for Customers OFFICERS CHARLES GLOVERPresldent AILES Vice President WM FLATHERVice President HENRY FLATHER Cashier JOSHUA EVANS Jr Assistant Cashlet CAPITAL lO00 EARNED SURFLU3 tl 000 001 Your Properly Will Be Managed by experienced and capable men if intrusted to our Heal Estate Department Every detail of man agement given prompt and satisfactory attention taJOur Banking Department pays Interest on deposits subject to check The Washington Loan Trust Company Cor 0th and Sts JOHN JOY EDSON President The Safest Investments Are than that do not fluctuiia daring disturbed conditions of th monar or tock market First deedi ol truat note flxat mortgagei wall aacured on real estate In the District of Columbia con atltute gilt edge Inreatmenti They do not depend upon the financial responsibility ot lndlTlduali or corporations for their stability and ar exempt from taxation a personal property We can supply such InvestmenU la amounts from 1500 upward Send for booklet Concerning Loins and Investments Swartzell Rheem Hensey Co 727 Fifteenth Street 5i First Trust Gold Notes Dated April 15th 1914 Payable April 14th 1916 For Sale at Par and Accrued Interest By REAL ESTATE TRUST CO M14F8tlN Tel 4081 TO HOLDERS OF Columhia Railway 5 aid 6 Per Cent Bonis DUE OCTOBER 1914 We can offer you several attractive securities to replace your investment in the Columbia Railway Bondsnowheing retired Call or write for particulars GHANDLER Company INCORPOSATED INVESTMENT BANKERS 1421 St Washington 0 Philadelphia Tfew York Boston London.