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NEW ISSUES: 1 Investors Refuse to Supply the Needed Capital Upon Terms That Companies Can Pay. APRIL OUTPUT OF NEW SECURITIES RAILROADS. Change 1913. from 1912. $38,750,000—$ 19,330,000 . . 39,500.000* 13,060.000 45,400,000* 14,055,000 Bonds Notes . Stocks Total $123,650,000* $ 7,785,000 INDUSTRIAL CORPORATIONS. Change 1913. from 1912. Bonds $18,732,000—$67,168,000 Notes 1,000,000— 5,000,000 Stocks 21,095,000* 10,595,000 Total . $40,827,000—$61,573,000 Gr. tot. $164.477,000—$53,788,000 *—Indicates increase. By B. C. FORBES. Since January 1 the output of bonds, notes and stocks by railroad and industrial (corporations in the United Statqs has aggregated $643,- 773,000. This total is no less than $383,780,000, below 1912, due, not to lighter needs, but to the refusal of investors to supply capital on reason able terms The April offerings totalled $164.- 477,000, a decrease of $f>3,788,000 from a year ago. A special compilation for the Hearst newspapers shows a decrease in each of the first four months of 1913. The comparative figures follow: January $198,105,000. .$142,895,000 February . 132,362,000 185.476,000 March 148,825.000 1,621.000 April 164,477,000 53,788,000 $643,773,000 $383,780,000 Notes Instead of Bonds. So bad has the bond market be- t ome that even the strongest cor porations are afraid to risk making offerings. J. P. Morgan & Co.'s postponement of the huge Interbor ough flotation is significant. As an alternative to trying to foist bonds upon an unresponsive market, several companies have resorted to short -term notes, a convenient but * xpensive makeshift. New York Cen tral put out $20,000,000 and Missouri, Kansas and Texas $19,000,000 notes last month with more success than would have attended bond offerings. The astonishing failure of the St. Paul 4 1-2 per cent issue was the last straw that broke the back of the bond market. The next test will come on May 20, when New York City will sell $45,- 000 000 4 1-2 per cent bonds. It is just possible that this issue will be as signal a success as the St. Paul loan was a failure. That the turn is near in the bond market is an opinion gaining favor in high financial circles. Higher Rates Will Help. Now that the bond presses have stopped running at full speed, the law of supply and demand should come to the rescue. Moreover, the granting of the Eastern railroads’ application for (5 per cent) higher freight rates would have immediate and marked effect in restoring confidence in railroad secu rities. Not a few railroad bonds are now at panic prices, while stocks in several prominent instances are at the lowest levels in recent years. The costly floods and the adoption of high er wage scales have aggravated the situation. European underwriters have suf fered disappointment after disappoint ment. Very few issues have been subscribed for to the extent of 50 per cent, while in some cases only from 10 to 25 per cent has been sold. Hopes of lower bank rates abroad have again been blasted, and it is extremely doubtful if either the Bank of England or the Imperial Bank of Germany will lower its minimum dis count charge this month, notwith standing widespread expectation of favorable action forthwith. Bank Returns Disquieting. Our own bank position is disquiet ing. The latest return covering our 7 400 national banks reveals continued ■xpansion of credit simultaneously with shrinkage in cash resources. Loans are increasing $1,000,000 daily and cash falling $750,000 every day bank doors are opened. New York institutions have not participated in this dangerous movement, but coun try hanks will not listen to warnings. Nothing but a sharp recession in general trade can avert monetary troubles when the crop-moving de mands set in—relief in the form of currency legislation is not now pos sible. last night’s despatches from Washington declared. However. v. rything points to a let-up in corti- rnereial activity, and, as* to corollary, lighter demands for accommodation. Quieten trade will also react favor ably upon the best grade of invest ments. SPRING SUIT OF CEMENT; UNDRESSED WITH CHISEL ROCHESTER. PA., May T.—Anth , ny Rodvviiski. overcome by spring fe ver and Ihe antidote for it, sat down upon a freshly made flight of cement steps ami fell asleep. \\ hen he awak ened the cement had hardened. \ gang of laborers undressed him with :t hammer and eold chisel. Demanding a Raise By Sterrett t »~t -*-*—*„ L.l —*I-*- * • I * -i »- 1 . "nnirPi ■ v v*p*rv TTT'riTT'H* ■r*l-r"l"l-l-rTT , rT i l rf : iBttfJ HERE tem toes Mow, BOSS 4U' ITUlHK I OU6tfTrA Gcr More MoueV• I JUST A M/wuTe. el 'em Them kw •Stay /'ll Close or AtJ 1 Move The 5hop To <5eRMAUV[ — \ ft* i }'//i w/A 1—■ j i A College Graduate WISHES To See Tbu A&oiTf A Job, Sir 1 7 Teel rr we Got More. DEAD Wood 'THAR WE WEED lR THIS PLACE U0UU I. hoe' or ! Tell Him To Call About the RrS-t oe The Mokith, i'M GoRRA make. Some <CUAUGeG iR This - -lJoikttI iSHOWS KEPT HERE Anti-Theater Rule Not Dead Let ter in South as in North, Declares Pastor. The rule of the Methodist Episco pal Church, South, regarding theater going and other forms of amusement, is not a dead letter in Atlanta, ac cording to Rev. C. V. Weathers, pas tor of the East Atlanta Methodist Church, who, during the last six years, has been pastor of three Atlanta Methodist Churches. The denial was occasioned by the statement of Eastern pastors that the ban was a dead letter in most churches. “It is true that in some circles In the South the rule is not strictiv lived up to, but in Atlanta it is far from a dead letter,” said Dr. Weath ers. “It is regarded somewhat Ugli ly in the Methodist Church, North, but our College of Bishops, at a re cent meeting in Baltimore, declared the ban on theaters and forms of like amusement to be as rigid as in past years, and there was no inclination on their part to declare it lifted. "For the last six years I have be« n the pastor of St. James. Asbury and the East Atlanta Churches, and I have found no inclination among the con gregations to disregard this discipli nary rule. The Methodist ministers of Atlanta are a unit on the ques tion. "There are, of course, some rare exceptions when the plays are of a high moral character and probably would be beneficial, but the Church can not discriminate and it is left, to the individual. It is very seldom, however, that any appreciable num ber disregard the ban even when the play is highly mora’.. Gertrude Hoffman Posters Shock City Cincinnati Mayor Heeds Protests of the Police—Orders Them Covered Up. CINCINNATI. May 7. — Mayor Hen ry T. Hunt blushed when he looked upon the posters of Gertrude Hoff man whiefl adorned the billboards of the city. He hurriedly called into conference the Director of Public Safety and Chief of Police, Miss Hoffman was pictured in spring dancing—or rather mid-sum mer—dancing attire. Telephone calls and special messengers gave the Mayor a disagreeable morning He became aroused, and now great sheets of white paper cover the bright red. black and white posters that so shocked the people. CABLE || NEWS Important Events From All Over the Old World Told in a Few Short Line*. BERLIN, May 7.—Electrification of the suburban railroads of Berlin finally has been assured by action in the upper house of the Prussian Diet, which has voted $6,250,000 for begin ning the work. Would Break Opium Treaty. PEKIN, CHINA. May 7.—Resolu tions will be introduced to-day in both houses of the Assembly asking the foreign office to .icgotiate with the British Government for the abro gation of the opium treaty, which forces China to allow the importa tion of opium, Chinese Grateful to U. S. PEKIN, May 7.—The people of Pe kin Thursday will march in a mon ster parade to the American Legation to express the popular gratitude for •he recognition of the new republic in Washington. Eight thousand students and school children will parade, car rying 4,000 American and 4.000 Chi nese flags. White City Park Now Open Grandma Talks About Babies Has a Large Circle of Listeners Who Profit by Her Wisdom and Experience. In almost any settled community there is a grandma who knows Moth er’s Friend. Not only is she remi niscent of her own experience, bu* it was through her recommendation that go many young, expectant moth ers derived the comfort and blessing of this famous remedy. Mother's Friend is applied ex ternally to the abdomen, stomach and breasts, allays all pain, avoids- all nausea, and prevents caking of the breasts. It is quickly and wonderfully pene trating. permits the muscles to expand without the strain on the ligaments and prepares the system so thor oughly that the crisis is passed al most without the slightest distress. Thus there need be no such thing as dread or fear. No better nor more cheering ad vice can be given the expectant mother than to suggest the use of Mother’s Friend. She will take cour age from the beginning. The days will be cheerful, the nights restful. Thus the health is preserved, the mind is in repose and the period is an unending one of quiet, joyful an ticipation. You can obtain Mother’s Friend of any druggist at $1 a bottle. Do not forget nor neglect V be supplied with this greatest remedy ever devised for motherhood. It is unfailing Write at once to Bradfleld Regulator Com- pany. 133 Lamar Building. Atlanta La. for their very interesting and t book of advice for expec- i ‘ iaut mothers THE PONY CONTEST JUST STARTING This Is a Good Time To Enter Timid boy and girl contestants are asking us, every day, if it is too late to enter this contest for free Shetland pony outfits. Our answer is that now is the right time. The “too late” period will be here before we realize it, though, and every boy and girl who wants to compete for one of these splendid outfits is urged to send in a nomination blank bv to-day’s mail. DN’T YOU LIKE TO OWN THIS OUTFIT? And wouldn’t your enjoyment from its use be doubled if your own efforts had earned it for you? Certainly! And this delight is ahead for the winners in this great contest. Why not send your nomination blank to-day, and make an effort to be among the winners? This Nomination Blank Starts You With A Thousand Votes OOOOOOOOOOOOOOOOOOOOOOOOCXJOGOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOGOOOOOOOO I nominate, as a candidate in The Hearst’s Sunday American and Atlanta Georgian Pony Outfit Contest: Name Address Nominated by Address GOOD FOR 1.000 VOTES Only one nomination blank can be voted for any contestant. Subscription blanks and printed instructions for the use of contestants are now ready. Sent anywhere on request. To-day’s Vote Coupons appear on Page Two of this newspaper-—Ask your friends to save the Vote Coupons for you. They will be found in The Georgian every week day and in every issue of Hearst’s Sunday American. Address all inquiries, nomination blanks, vote coupons, etc., to PONY CONTEST EDITOR Hearst’s Sunday American and Atlanta Georgian 20 East Alabama St. ATLANTA, GA. t T «