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INCLUDING
Bank and Quotation Section (Monthly)
Railway and Industrial Section (Quarterly)
and City Section (semi-Annuaiiy)
Street Railway Section (^TeJr^)
State
Entered according to Act of Confess,
A
in the year 1905. by William B. Da^a Compant.
in the office of Librarian of Congress Washin^trn^D
weekly newspaper entered at Post omce. New Yor^. as gecoad-class
matter-WiLLlAM B. Dana Compasy. i'ubli.hers ff^ Pinl st n y
VOL.
SATURDAY, APEIL
80.
1905.
1,
NO.
it'
—
eek ending
V
2075.
March 25
CUarings at
1905.
1904.
190a.
1902,
PUBLISHED WEEKLY.
Terms of Subscription—Payable in Advance
For One Year
<i!in
!..!!!""""
For Six Montlis
&
European Subscription (including postage)
13
European Subscription Six Months (including po'stage').'.'.".'.'.".".".'."." 7
Annual Subscription
nn
00
oo
50
£2 lis
London (including postage)
Bii Montlis Subscription in London (including poatage)'.'.'.'.'.'.'.'.'..'.'.
£i Ha.
in
Subscription includes following Sections—
QUOTATION (montlily)
State aito Cnr
annnal'v)
Railway and I.NDUSTRLAJ. (quarterly) street Kailway (semi
(3 times yearly)
?-t^^
Boston
Providence
Hartford
New HavenSpringfield
Worcester
Portland
Fall River
Lowell
,
,
,
New Bedford
145,554,100
6,312,300
2,924.770
1,912.204
1.881,637
1,489,172
1.319,838
816,475
442,919
Total
New England.
+25-6
+8-4
+ 119
+16-5
886,000
+6S-1
+6-«
113,531,625
6,132,600
2,197,020
1,485,794
1,218.270
1 329,586
+46-5
112,371,076
6,273.900
2.256,619
1,357,450
1,241,252
1.430,055
1,070,999
957,233
440,756
396,784
;«4,046
+:i-2
1.235,709
690,366
346,734
335,521
1,212,5.34
+183
449.272
410,]9.s
+9-
791.166
447,651
465.245
311.595
163,094.211
131,173,548
+^4-3
129,133,092
128.130,120
178,412,860
22,273,650
17.387,741
9,933,134
7,371.714
154,959 683
101,874,835
20,731,200
18,442,850
9,259,553
161.485,828
18,164,950
11,723.075
8.170.063
6.395,219
4.717,762
3,199.200
3.178.851
49 1, .524
Holyoke
I
115,852,91
5,s2 1,700
2.614.256
1,641.240
1,338.907
+27-
|
Terms
Chicago
Advertising—Per
of
Space
Cincinnati
Transient matter per inch space (14 agate lines)...
Two Months
(8 times)""".'"!!!
Standing 3asinees Cards Thiee Months (13 times)
Six
Cleveland
Incli
$4 20
Detroit
22
29
50
87
Milwaukee
'
-
Months
i Twelve Months
(26 times)
(52 times)
'.""'.
CHICAGO OFFICE-PUny Bartlett, 513 Monadnock Block.
LONDON OFFICE-Edwards & Smith, 1 Drapers' Gardens, E.
TVIIililAxTI
IB.
©ANA COMPANY,
00
00
00
00
Box
C.
New
Vork.
Philadelphia
Baltimore
Chicago
St. Louis
New Orleans
17,16(3,982
177.405,003
•45,000,000
13,852.847
Seven cities, 6 days
Other cities, 5 days
Total
Total
•
'.'..'..
5 days
all cities,
All cities, 1
day
all cities
*873,031,1S6
90,759.671
80,991,001
13,474,588
141.854,345
40 654,896
13.156,091
112,011,071
93,564.904
1
or
week
Canton
Rocklord
Mansfield
.Jacksonville
P. Cent.
+73-4
+23-4
Seattle
Salt Lake City
Portland.
Spokimo
+27-4
+25-1
+ 10-7
+5-3
+57-4
249,919,968
+ 15-6
^2,2t)2,423.457
i^l,503 872.349
450,007,208
320.548.170
+50-5
+40-4
f2,7:2,430,725
*1.824,420.519
+48-8
The full details for the week covered by the
above wiU be
given next Saturday. We cannot furnish
them to-day clearings being made up by the clearing houses
at noon on Saturday, and hence
the above the last day of the week has to
be in aU cases estunated, as we go to
press Friday night.
We present below our usual detailed figures for the
previous
week, covermg tlie returns for the period
ending with Saturday noon, March 25, and the results for the
corresponding
week inl904, 1UU3 and 1902 are also given.
Contrasted with
the week of 1904 the total for the whole
country shows a gain
Outside of New York the increase over 1904
P®'' ''^'^^i¥
o
16-8
m
•
per cent.
Helena
Fargo
Sioux Falls
Total Pacific
Minneapolis
Omaha
Paul
Joseph
Denver
Des Moines
Sioux City
St.
St.
Topeka
Davenport
Wichita
Colorado Springs
Cedar Rapids
March
19U5.
New York
1814,981.905 1,141,098,877
Philadelphia
Pittsburgh
Baltimore
122,460,579
42,8,'35.0y0
20,725,882
5,996,774
4.543.766
3,265.529
2,394,255
Buffalo
VVashinKion
Albany
itochestcr
Bcranton
Syracuse
1.5; .4 ,594
Wilmington
JVilkes Harre
Wtiee.int,'
Binehamton
1.015,865
961,131
837,705
609.344
424 300
Kreensbur,;
Chester
Erie
Keading
1904
S59,M:i6
',',["
Franilin, Pa....!
Total Middle..
103,310.991
35,894,186
20,302,746
5,623,826
8.665.001
2.070.652
2.128,590
1730,537
1,028,246
1,029.392
862.771
B80,5S2
409,200
871.312
864,ai]
410,925
960, .'iyx
1,026,564
181.51)2
22«.,i85
408,226
43.'<,296
.!,021,886,77e l,3;i2,808,786
Inc. oi
Dec.
1903.
1902
-f-590 1,213,204,2.'?0 1,132,963,901
4-18-D
109,443,732
90,333.012
+19-3
53,831.7,52
85,419..300
+2-1
19.670.510
18,516,614
+0-6
5,211,046
4„S83..'')53
+24
3,635,740
3,:io:i,064
+22-3
8.297,610
2,810,123
+12
1,779,193
1,901,780
-102
1,512,883
1.144.921
-1-2
983.959
1,020.820
-6-3
1,206,250
917.220
-2-9
+5-0
+8-7
—31
—10 8
—0-2
-6-4
-20-8
+531
+15-4
870,756
540,000
539,240
5i0.312
491,666
524,230
463,081
427,096
334,464
317,909
373,490
225,58a
227.456
181,219
152,707
72,144
231,301,063
228,103,322
320
20,559,985
5.240.184
3,134,986
2.816,991
3,9^4.1]0
1,815,485
56 9
1,8.59.931
+39-1
40 8
+ 19-2
47H,962
453,974
202 304
85,750,649
5,096,282
2,978,716
8.342,498
3.146,949
1,460.912
1,082.822
531,090
352,381
325,438
4^,183,651
+36-4
4^,487,912
54,007,737
18,877,884
13,387,023
7.614,369
5,778.625
4.079 20S
3,806,000
+18-3
+38-1
+187
17,000,489
9.535.877
6,576 931
4,619,596
3,948,453
4,582,106
1.980,,581
18,197,852
12.518,084
7,40S,3;8
5,800.664
4,807,731
3,530,922
1,967.032
1.499,215
1,280.671
763.625
+8
1,106417
1,089,7.5(>
70.1,902
433. o26
503 333
+40
337.899
176,780
+11-
+89
9
+25-6
+12-1
+410
+ 18-2
+7-4
+7-4
+9-1
1,168,853
+27-7
773.216
-I-35-8
940,2i!9
-12-2
+!•'
1,800 219
1.506,070
1 457,685
372,734
914.252
561.564
600,000
161,254
166,850
822.4.39
9
+28-2
Not include d
iu lo
al.
00,519,822
+161
59,191,601
53,281,592
49,0&4.321
23,303,528
+10-4~
44,2.80,553
49.386,.326
8,610,;j94
+22-5
5,882 528
4,126,500
+30
9,401.595
8.387.338
6.052.346
4,281,4,S0
+1-3
4-29
+20-4
12,403,288
9,409,010
0.880.655
4.135 500
3.194,736
3,312,900
Atlanta
U,55i!,70:
+34
Nashville
2 747 216
Norfolk
1.80S,2,^5
Augusta
.562,954
2,560,932
2,049.837
2.415.049
1.677.123
1.120.395
1,,533 7t<0
l,21i..lsi;
4-66-y
Louisville
Houston
Galveston
Richmond
.Savannah.
Memphis
1
Worth
l,:i60.847
1,02.8,291
Rock
Knoxville
Charleston
-Macon
994, S24
l,3.'J8.5i;l
1,057.02(:
l,09r;,0 K
Jacksonville
1.115,0,38
234,31
Total Southern..
Total all
Outside New York.
4.2.50,285
1.113.529
Chattanooea
Columbus, Ga
2.452.496
l,il8,7;S,'i
510.958
872.185
120,040,169
701,m53
764 933
1 78,591
118.735,82a
,705.2i)9,999 1.908.717 660
890,318,0^7
762,619,383
27,854.872
18,972 ,5:i6
4
7,833
1,594.703
2,157,078
1,291.975
1.492,910
l,ol4.0S6
88 4,.532
824,782
6S0,123
18,706,208
13,297,943
4,430.754
520.8S)0
61,885,490
45,219,l>02
— 26
4
+190
-I-13-7
+7 8
+395
+11-8
+3-4
— 10-3
+ 5-b
—53-4
+24-4
+45 8
+31-2
+6-2
3.1o3,H3rt
2,590,6s>2
2.006,873
1.502.007
1,587,222
1,605,857
1,^49,740
804,583
913,530
1,021,371
743,000
593,440
327,422
102,0^8,835
+42-1 1.984,830,793
+16-8 771,632.563
3,866.51*0
3.851. sc,9
2.532.914
2.401.727
1,878.889
1.465.513
1.351 939
1.2»5.732
1,150,410
911,361
815,807
590,798
603.000
4S5.078
386,891
96.816 0a6
031.643
1.8,">6
728 067,08-2
Canada—
.Montreal
Toronto
Winnipeg
809,404
86J.598
Halifa.T
649,l,5h
B'H3,683
Ottawa.
825,000
342,863
298,244
Quebec
Vancouver
Hamilton
St. John
London
Victoria
1,416,817,419 1,^95,626,836
538.400
642.845
648,751
581,912
722,535
1,381,744
1,192.745
70,428,441
Louis
New Orleans
3><5,H(K)
407.189
417,0h5
868,863
1,179,6.57
2,2i!7,533
54.151,714
17.091,180
10.54S.074
7 61.9,6.,
4.911,500
4.3.>\021
2.5^4,401
5. 1 1 9,079
Total other West'rn
St.
Little
Clearings at-
1,652.797
22,329,775
15,829,220
8,181,665
6,205,242
4.452,923
5,256,097
2,357,413
1,492,716
1,050,401
825,594
197,450
359.707
nirminKhara
25.
5,714,555
3,899,800
2,390,044
2,695.495
1,554.814
1.632,890
968.952
643.000
638,685
641,890
589,624
545,615
483,226
5o0.954
396,504
381,060
443,540
229,940
179,29
192,910
192,088
77,508
2 853,20^
2,854.488
1,502,786
57.520,5.,6
Fremont
Pueblo
Fort
eek ending
5970,722
4,0.S«.S00
22,691,226
5.963,011
3 651 169
2,286,591
2,748.132
1.917,840
1.865,128
486.355
372,735
200 864
239 365
Kan.sas City
11,559,341
8,804.976
6,883,76?
4,540,249
641,167
655,234
739,070
835.632
49l},469
519.342
500,,S24
400,000
336,856
432,120
394 226
349,004
308,445
3U2.3y5
257.767
320,065
186,857
294,189
195,223
259,512
197,181
89,149
58 593
646,532 Not include
258 021 Not ini^hide
263.323,864
228.184,830
31,949,839
8,341,489
4,585.663
2.562,163
3.875,550
2.543 078
2,927,844
676,590
524,955
+155 Tacoma
4.1,253,922.381
II
O
Bloomington
Quincy
Decatur
Total Mid. Western
Partly estimated.
IS
Lexinarton
San Fr.ancisco
Los Angeles
*l,97o,458,730
288,964,727
].
512,300
882 570
III
have Jackson
Ann Arbor
Fort Wayne
week and South
Bend
1904.
81,514,377,9i;4
Boston
1,729,36.
1,585.500
1,320,164
Younestown
Kalamazoo
Springfield.
The following table, made up by telegraph, etc., indicates
that the total bank clearings of all the clearing houses
of the
United States for the week ending to-day, April 1
1905.
Toledo
Akron
OLEARINQ ROUSE RETURNS.
Clearings— Returns oy Jelegraplu
Week Ending April 1.
Peoria
Spriuglield,
NEW VORK.
been $2,712,430,735, against S-3,705,399,999 la.st
11,824,420,519 the corresponding week last year.
4,223,100
2,704,445
3,127,467
Evansville
Publishers,
9.18.
5,96iJ,933
Columbus
Urand Rapids
Dayton
Pine Street, Corner ot Pearl Street,
PoBt OCSce
India" apolls
21,17,8,200
Total Canada
M
,
1,34:',,051
1.859,484
1,211,000
1,301,023
1.064,784
790,510
675,029
+4S-9
+66
23,871,467
14,325,118
3,017,179
1,491,79s
1.736,054
1,218,278
+14-7
917,,S39
+235
+29-2;
777,104
675,427
691,696
397,186
+86-9|
49,718,721
+42
+80
+ 18-7
-t-160
+ 110
+21-1
18,925,227
12,435,920
2,000,902
1,500,000
1.7 03.028
1,101, 7«8
7(:0,789
7.;2.889
541,470
521,687
40,823,705
THE CHRONICLE.
1200
Eumors of negotiations looking towards the establishment of peace have been current here all the week. At
more than had previously prevailed;
but beginning with Wednesday they have been interpreted by the public as wearing a more promising outThe report put afloat that day stated that the Kus.
look.
first
they were
little
in
There are well-known reasons
why this outcome will prove particularly welcome. Oar
last year's production of wheat (winter and spring) was
for several years.
case
so short that this promise of larger than usual early yield
will materially help to relieve the supply question, whicli
Government had taken a step in the direction of looked as it
peace by making known to Japan that Russia would not was ended.
sian
agree
the
to the surrender of any of her territory or to
lxxx.
aa excellent condition. The anticipation is that
the April report of the Department of Agriculture will
show a better start for that cereal than has been the
it
TEU FINAJSGIAL SITUATION.
[Vol,,
which
is
it
might become very serious before summer
new high-record crop in Argentina
A
now being marketed,
followed by a similar yield
There does not appear to be of om- winter variety, will go far to restore normal conanything very inviting or cordial in such a suggestion as ditions lor wheat and flour.
party;
that, coming as it does from a severely defeated
Though it has long been evident that our cotton crop
but it was assmned by London and the Conmight
tinent, and consequently by I^ew York, that it
for 1904 aggregated about 13J million bales, the actual
conwas
figures, according to the final ginners' report prepared by
lead up to a basis for negotiations, and hence
a
as
Bourses
and
strued at the Security Exchanges
the Census Bureau, have been awaited with decided inAs the week closes it is rumored terest. It appears from the Bulletin received this week
hopeful indication.
payment
an indemnity.
of
mediator that the total ginned lor the season of 1904 was 13,597,or arbitrator by Eussia, and some accounts say by Japan 782 bales, with round bales reduced to square bales
and including linters and
also, and that a suspension of hostilities is expected that is counted as half bales
that President Eoosevelt has been selected as
—
add that advices from Tokio an estimate of 192,275 running bales assumed yet to be
places very little confidence in ginned.
These results prove that the Southern States,
that Japan
the
and
from Europe
and gather 13J million
of the rumors afloat
it put to it, can plant, cultivate
It
shortly.
state
is
well to
any
United States, and
other incident
is
not
expecting peace.
the
stimulating
more
Still
hopeful
an-
of
bales
cotton
a smgle season.
in
Each
of these
achievements has hitherto been thought of questionable
of attainment; all uncertainty with regard to any such
feel-
and helping to give an air
buoyancy to affairs generally, was the grand success of matter has been removed a crop however large, if
It is not,
the Japanese loan, it being reported to have been over- brought to maturity, can probably be picked.
subscribed here and covered about twelve times in Lon- however, sate to assume that a 13J-million-bale crop is a
Aside from weather, the size of
don, even French bankers being bidders to a consider- possibility every year.
cirThese
able extent both at London and Kew York.
a cotton crop depends mainly upon the price of the
cumstances attending the marketing of the loan must staple in planting time. It was the common remark of
ing or
sentiment,
—
remind Eussia of her own failure to sell her bonds in
Europe and consequently give to llussia a less hopeful
feeling as to her comparative situation as a belligerent,
and hence incline her to be more ready if not eager to
every observer traveling
enter into an arrangement to close the war.
then, there
m
Southern States in the
early months of 1904 that every piece ot ground, however small even every door-yard capable of being cultithe
—
vated
little
—was put
down
cotton.
to
Prices were so high
was a promise almost of a year's living
patch of the staple.
No
in
a
one need be surprised,
the cotton
There have likewise been developments in home af- with such a stimulus to a large acreage, that
million bales.
fairs which have afforded increasing encouragement to States produced 13^
The market for iron and steel we
business interests.
Fluctuating conditions have again given to the stock
have referred to almost every week, but it is only because
On Tuesday an upward
has been such a progressive development. We were the market an unsettled aspect.
it
first to call
new term
attention to the rise of this
perity in steel
and
its allied
It
industries.
of pros-
began with
turn in the quotations for call loans, touching 4 per cent,
added to other features, which were interpreted as not
money market
break in the pegged price. In speaking of that unlikely later to end in an advance in the
a chill through the
incident August 27 1904, page 756, we said "the drop in a more permanent way, sent
a general depression was
in steel values will, we may assume, prove to be a whole Exchange list and
The more important of the "other
Lower prices will certainly by degrees the result.
healthful step.
the
stimulate buying in
all
trades
affected by the decline,"
features"
referred
to
may
be
said
to
have had
Indeed as
weeks later we wrote (page 932): "A very their rise at the close of last week.
that
encouraging development has been the evidences which last week closed it looked reasonable to anticipate
have been disclosed indicating increase of business in easy money wuuld be continued because of the decided
the products of steel and the various manufactures of decline in foreign exchange which had that week taken
From place suggesting gold imports and the large transfer of
steel following the cuts in prices of steel billets."
that day to this the growth has been uninterrupted, first loans to Europe, which gave assurance that the monetary
and
in the amount of business doing and later also in equilibrium had thereby been for the time restored
etc.
Two
—
—
the prices
sumption
is
ot
the
various
Now
products.
the
con-
getting to be enormous, going beyond the
country's present possibilities of production, so that this
week we
see that the trade journals
bility that
manufacturers will have
argent and extensive)
is
ing circumstance
,the situation
crop.
is
It is believed
the demand.
that
its
speak of a probato
import iron, so
Another encouragof the winter-wheat
snowy covering
is
leaving
encouraging a belief that
stated
it
would be similarly
rein-
whenever conditions developed making such a
restoration needful.
A counter
movement in the international conditions
had gotten under way when the current week opened.
Eates for money stiffened in London and other foreign
business centres; Europe again sold us our securities in
considerable amounts and our loreign exchange rates
APB.
THE CHRONICLE.
1905.]
1,
Had
hardened.
not been for the intervention of
it
which
abroad,
dearer discounts
temporarily
arrested
1201
ing the coming June and July)
is
offered to shareholders
A feature of this offering
at par.
that the loan has
is
downward course in ex- been jointly underwritten by those two prominent bankchange might not hare been arrested. The events which ing houses, Messrs. J. P. Morgan & Co. and Kuhn,
These two houses at the time of the concontributed to dearer discounts in Europe are well known. Loeb & Co.
the
pendency
of
Stock
Exchange
settletest for control of the N'orthern Pacific property, it may
They were the
ment in London, with indications ot a large bull account be recalled, were ranged on opposite sides. Their
in Americans; the pendency also of the Japanese loan at present combined action must be accepted as eviof security
offerings
the British
capital,
the
bills,
with the probability of large over-
subscriptions thereto, thus temporarily withdrawing from
sums which were required
the market the considerable
of
unsettled
fall
the
Russian
an advance in discounts and
The
changes at Paris, however, resulted chiefly from the de-
is
Petersburg of Russian 4 per cents
well known, largely in France
—the
We
the lowest figure on record.
the
The
reason for believing otherwise for a long time.
been assured in any event, but the syndicate arrange-
withdrawal of gold from the British capital.
cline at St.
friendly,
entirely
between
two concerns
and, indeed, there has been no
relations
financial conditions at
to the reported failure of the
in checks on London,
the
success of the Pennsylvania loan would doubtless have
internal loan; these conditions were reflected at Paris in
a
are
that
Besides these,
be deposited by applicants for the loan.
were developments
St. Petersburg, due
to
dence
—
held, as
reaching
decline
should add that the
ment serves
to guard against possible unforeseen conevent of like character has been
Another
tingencies.
the purchase by Speyer & Co. of $7,000,000 consolidated
mortgage 4 per cent fifty-year gold bonds of the
Vandalia RR., these forming part of an authorized issue
The Vandalia RR. is a property conof $25,000,000.
It represents a recent
trolled by tbe Pennsylvania RR.
consolidation and embraces the lines of the Pennsyl-
demand for remittance incident to the London settle- vania RR. system entering St. Louis.
ment has been further reflected in a sharp advance in
Then the stockholders of the Louisville & Nashville
cables, while covering of shorts and an inquiry to remit RR. Company at a special meeting held this week aufor
stocks
sold
for
European account through the
trage houses contributed to higher rates
for
arbi.
and
sight,
long sterling was sympathetically influenced thereby.
of
future
money
does not seem
to
promise a
&
Atlanta Knoxville
of
latter is
this
when
The
mortgage of $50,000,000 on the
thorized the proposed
the offering
Besides
this,
the
to
How much
Cincinnati division.
be put out at the present time and
be
is to
New
made have
not yet transpired.
Orleans Great Northern
RR. has
mortgage 5 per
The New Orleans Great
able changes referred to above, the bank statement of cent fifty-year gold bonds.
Northern
is
new
railroad
undertaking
in Louisiana
a
last Saturday recorded an important loss in cash and
hence in gross reserves ($4,618,900); though the surplus which the' banking house of Fisk & Robinson of this
The firm referred to is at the head of a
reserves were only reduced $1,325,150, but even that city is financing.
In addition
speedy return to easy rates.
the
left
very moderate
surplus
to the unfavor-
— $6,479,325,
against
$27,468,875 the corresponding date in 1904, notwithstanding the
money
the
United
States had increased during the year over 57
million
money may
Treasury
25
first
per cent of their
It
of
May
any considerable
the
about
in
by reason of the Secretary of the
calling upon the depositary banks for an-
issued probably the
as
circulation "
arise
the Sub-Treasury.
the
in
Besides the foregoing, a possible irregularity in
dollars.
other
'^
81
reported
to
be put into
that this call will be
syndicate which has
first
purchased the
$5,000,000 of
first
these bonds.
These extensive railroad loan negotiations are important and significant from more than one standpoint.
Their chief bearing, however,
lies in
that they indicate that confidence
in railroad securities
fact that
large
the
at
is
the circumstance
on the part of investors
moment very
high.
amounts is of comparatively
are* accumulat ing wealth so
depositary
million
dollars,
banks
the
now
whole
is
only
amount
matter
only
The
investment capital can be obtained in such
little
consequence.
fast in this
coming week and will mature about We
of
accumulations
ours
that
large
and June. It ought not to have country
influence on money here, because always available for investment in this way.
in
total
is
deposits
authorized an issue of $10,000,000
that ever
capital into such
interferes
enterprises
is
with
the
new
are
The
flow
of
the development of con-
drawn into the Sub-Treasury will only be about
20 million dollars, and of this only about 4 million dollars would come from our Clearing House institutions.
which undermine confidence in the security and
stability of investment values.
It is hardly two years
since confidence in railroad values was almost com-
Should the
pletely gone. Prices kept declining
ence on our
lar
call
be issued as suggested, the
first influ-
money market (judging from previous
simi-
withdrawals by the Treasury) would be a flow of
New York. That is to say, the contribution
ditions
til it
almost seemed as
railroad capital issues,
month
after
month un-
the market had no bottom. New
whether in the shape of stock or
if
currency to
bonds, could not be floated, simply because investors for
by the interior banks of their portion of the called deposits would be anticipated by placing at this center, in
the time being refrained from buying.
Even companies
with the best of credit had difficulty in finding takers for
readiness for the day of deposit, the amounts due from
them under the call.
and the situation finally got so that resort in many instances had to be made to short-time
loans to provide the means for the most urgent, pressing
Besides the Japanese loan offering, the week has been
marked by the negotiation or authorization of several
needs.
large railroad
new bond
Foremost among these
of course is the 8100,000,000 bond issue of the Pennsylvania Railroad Company.
The whole amount (of
which $27,480,020 will be used to pay off the consolidated mortgage 7 per cent bonds of the company maturissues.
their securities,
The
effect
on business interests
is
known
to
every
reader.
New
affairs.
Witli the orders of the railroads for equipment,
work for the time being had to be largely
abandoned and the railroads were forced, furthermore, to
practice rigid economy in their ordinary every-day
for
motive power and
for
materials and supplies gen-
THE CHRONICLE.
1202
everywhere
steel
The
suffered.
industry'
its
great slump in the iron and
so suddenly developed
which
part of 1903 had
manufacturing interests market occurred on
reduced,
seriously
so
erally
[
ments
the latter
origin chiefly in this crippled condi-
for
week preparatory
balances,
Exchange during the week
of
to the disburse-
Money on
April interest and dividends.
representing bankers'
LXXX.
was some calling
this account, there
loans at the end of the
V^OL.
loaned
Stock
the
at
call,
4^ per cent and at 2^ per
Nor cent, averaging about 3^ per cent; banks and trust comfollowed largely from the same circumstance.
On
until security values once more panies loaned at 3^ per cent as the minimum.
did business revive
negotiacent,
loan
at
per
Monday loans were at 3J per cent and
improved and the railroads, through new
3J
tion of railroad finances.
tions
The
reaction in general trade
and the improvement of
their
finances, found
possible to give orders again in the regular,
business
the
at
3J per
per cent with the majority at 3J per
nesday loans were at 4 per cent
is
passing through a period of renewed activity and buoyancy and trade everywhere is in a vigorous, healthy
On
cent.
normal way. Tuesday transactions were at 4 per cent and
a consequence, the iron and steel industry
]^ow, as
with the bulk of
it
at
at
3J
On Wed-
cent.
and
at
per
3J
3J per cent. On
Thursday transactions were at 4 per cent and at 2^
state.
refer to the matter here only because a return to per cent, with the majority at 3| percent; the lower
the old situation would follow inevitably from anything rate was caused by free offerings late in the afternoon.
cent, with the bulk of the business at
We
that
tended
unsettle
to
or
On
confidence again.
disturb
per cent and at 3J per cent,
Time
the busmess at 4 per cent.
Friday loans were at
4:^
There have been pretty positive statements this week with the bulk of
that the President had determined to call an extra ses- loans were in good demand for the longer periods, but the
Eates on
sion of Congress in October for the purpose of forcing inquiry was light for the shorter periods.
measure
Any
3^'Si3^
legislation with regard to the railroads.
per
good mixed Stock Exchange collateral were
and squarely with railroad
and 3^'®3f per cent for
aiming for instance at the prevention of unjustifiable four to six months. Commercial paper was dull, with a
rebates and preferences, and the removal of abuses con- moderate demand and a meagre supply of choice names,
nected with the operation of private-car lines, would do Quotations were 3^'S)4|: per cent for sixty to ninety day
no harm rather would be a positive benefit. But legis- endorsed bills receivable, 4'®4^ per cent for prime and
lation such as that embodied in the Esch-Townsend Bill 4J®5 per cent for good four to six months' single
that
dealt
fairly
interests,
cent
for
sixty to ninety days
j
,
—
;
j
could not but be fraught with serious consequences. The
names.
trade reaction through which the country so recently
passed should be a warning against any action which
The Bank of England minimum rate of discount rewould invite a repetition of the experience.
mains unchanged at 2^ per cent. The cable reports discounts of sixty to ninety-day bank bills in London 2
There was no change in official rates of discount by per cent. The open market rate at Paris is 2^ per cent
any of the European banks this week, but unofficial or and at Berlin and Frankfort it is '2\^2^ per cent.
open market rates were firm. There was some derange- According to our special cable from London, the Bank
ment at St. Petersburg on Tuesday, and it was reported of England lost £539,283 bullion during the week and
that the Bourse was in a semi-panicky condition because held £39,753,914 at the clo^e of the week.
Our correof the failure of the domestic loan. Though the subscrip- spondent further advises us that the loss was due to imj
tions for the
new Japanese 4i
per cent 5-20-year bonds
London on Wednesday, the issue of
$75,000,000 which was offered there being, it is said, about
twelve times covered, the market was only temporarily
affected, the money received from applicants for the bonds
being promptly released through loans. The issue of an
equal amount of these bonds in New York on Wedneswere quite large
£178,000 (wholly bought in the open market;,
exports of £120,000 (wholly to South America) and
shipments of £597,000 net to the interior of Great
ports of
in
to
to
Britain.
There was a sharp reversal in foreign exchange conwhich resulted in an advance of half a
cent per pound sterling by Tuesday in sight bills coinditions this week,
heavy over-subscriptions, said to
be six-fold.
The lists were kept open until Thursday pared with the rate on Friday of last week. This was
afternoon in order to give opportunity to subscribers at due to the development of activity and more or less
distant points; the lists in London were closed on strength in the European discount markets, which wero
day likewise resulted
Wednesday
in
and it is reported that applications
were large from Paris and other Continental centres.
It is noteworthy that some domestic subscribers, fearing
that they would be unable to procure in New York the
desired amount of the bonds, cabled their applications to
bankers in London.
Though no announcement has been made of the fact,
influenced
afteraoon,
by the London Stock Exchange bi-monthly
settlement; the pendency of the Japanese
conditions
unsettled
at
St.
loan and the
Petersburg growing out of
J
the reported failure of
the
internal
loan.
These
laicer
j
conditions were
reflected
at
Paris
in
low rates
lor ex-
change on Loudon and the movement thence of gold
to
Though money rates at New
French capital.
it is confidently expected that Secretary Shaw will, in a
York were higher than those abroad, the firmer
few days, issue a call for the surrender of 25 per cent of tone at the foreign centres and the uncertainty which
the public funds held by the national
this will
is
amount
thought
likely,
to
or about the end of
in
was
bank depositaries
about $20,000,000.
mature
the
The
last
as to
movement
call will, it
two instalments, the
felt
its
duration
of securities
hence
contributed to
to
arrest
the
Europe, which, as was
noted last week, was one of the principal causes for the
on
decline in exchange which had been almost continuoas
May.
—
week in jNIarch the bills drawn against
which
had been transferred, in order to
The market for money was firm this week, influenced the securities
by expectations of a calling of loans Incident to the sub- take advantage of lower carrying rates abroad, being
scriptions for the Japanese bonds.
Though no loans ap- pressed upon the market. The check to such transfos,
since the second
j
i
peared
to
have been called and no disturbance
to
the
thereloro,
tended greatly
to
limit
tlie
supplies
of
ex-
Ape.
1,
As
change.
concurrently there was special urgency in
With
London
follows.
demand
the
THE CHRONICLE.
1905.]
for
remittance incident to the
settlement, to cover short contracts and to pay for stocks
European account, exchange more
sold for
1-203
Sub-Treasury operations the result
the
Info
Banks.
TFeek ending Mar. 31. 1005.
or less sharply
is
as
Net Changt in
Oat of
Banks.
Bank
EoUlings.
*1,616,000
advanced early in the week. On Wednesday the an4 200 000
10,350,000
Sub-Trf»flsurv ODGriLtions
T^os<<
nouncement that the subscriptions for $75,000,000 of the
tenders ... $25,191,000
Total ETold and
27,775,000
Loss. $2,584,000
Japanese loan, though large, were causing no disturbThe following table indicates the amount of bullion in
ance, the money accompanying the applications being
the principal European banks.
promptly loaned, tended to the restoration of normal
Banks interior movement as abovi
^5.84 1, 000
Gam.
$4,225,000
83,550,000
lei7.".I
conditions at London, and the recovery in French checks
on the British capital seemed
to reflect less
was a rise in long sterling in expectation of
lower open market discount rates in London after the
turn of the quarter, which would make sixty-day bills
more
Should the
than sight for remittance.
desirable
advance in long be maintained, it is thought probable
that drawing of finance bills will soon be resumed.
Moreover, if London discounts shall fall, it seems likely
hence
that the transfer of securities
re-commence, thus contributing
Gold received
the week, $778,06L
a further decline in
to
Custom House during
at the
exchange.
that centre will
to
ifominal rates for sterling exchange are 4 84J'S'4 85
On Monday
for sixty days and 4 Sol's 4 87 for sight.
rates for actual business rose
pared with those at the close
higher
all
around.
The following shows daily posted rates
exchange by some of the leading drawers.
MON.,
Fki..
Mar.
Brown
60 day*
Brothers A Co. i Sight..
Barine,
J 60 days
Magoun & Co JSlKht..
Bank British
J 60 days
No. America.. J Sight..
Bank of
5 60 days
Montreal
JStght..
Canadian Bank ( 60 days
of Commerce. (Sight.,
Heidelbach.Ick- i 60 day^
elheimer&Co. i Sight
Lazard
J 60 days
(Sight..
Freres
MercDants' Bk. 5 60 days
of Canada.
iSieht
.
The market
24.
Mar.
27.
for sterling
TUES., Wed., Thur., Fri..
Mar. 28. Mar. 29. Mar. 30. Mar. 31.
84!^
4 86}^
4 85
mi
84^
86^
841^
86!^
841^
86>4
84^
88^
841^
841.^
841.^
85
86J^
86«
87
85
87
85
87
85
87
85
87
85
87
85
87
85
87
84H
S6H
84^
84;^
86!^
84 ^
84;^
86>^
841^
86Js
S4>^
84^
861^
861.^
•S63^
84^
84^
84^
86H
84^
86 >6
85
87
S6H
»4M
86-^
S6>6
86>i
85
87
85
87
85
87
85
87
4 87
4 85
4 87
4 85
4 87
85
87
85
4 85
4 87
4 841^
4 86^6
4 84H
4 88V6
4 85
4 87
87
85
87
85
87
closed on Friday at 4 8410'S)4 8420 for
4 8595®4 86
for
short
and 4 S630'S4 8635
for
Commercial on banks, 4 8375'S)4 8385, and
documents for payment, 4 83'2)4 8425. Cotton for pay-
cables.
ment,
4 83'S)4
83J^,
cotton
for
4 8375'S
acceptance,
to
Gold.
Silver.
£
£
£
and from the
Week ending Mar.
interior
by the
Xew York
Rectired In
Y. Banks.
81, 1905.
movements
-V.
money
banks,
110.611.008
44,022,708 154,633,710
94,503,57;
44,579,13S 139,082,711
Germany*.
42,949.000
14,317,000
57,266,000
30,639.000
89.577.001)
10,765,000
8 419,000
41,404,000
6,382.000 106,877.000
60.276,000
34,344,000
25.863.200-
Y. Pankn.
Gold
Total gold and legal tenders
..
55.132,000
709.000
?8.647.O00
Sr5.84l.000
*4,li25.00(J
578.000
01
am. 51,185,000
rinln
131 000
GHin. n,6I6.000
34.058,852
13,008,000
61,189,000
47,371,00(1
12,005,000
20,896,000
35,812,000
14,636.000
19,708,000
22,300.000
3,383,900
25.689.000
22,060.000
3,.S03,20o
6.01 3.700
6,314,700
12,328.401)
5,442,500
6,706,900
3.254,000
1,627.000
4,881,000
3,114,000
1,557.000
Italy
Netherl'ds.
Nat. BelB.».
97,996,000
V
12.149.400
4,071.000
Tot. week... 388,479,622 109.951.308 498,430,080 341,401,92;. 108,443,238 440,845,103
388.253.04H 109,418,700 497.672,340 348.237,425 110.106.35V 458,343,777
Tot. prev
.
*
The
division (between gold
and sUver) given in our table
of coin
and
bullion in the Bank of Germany and the Bank of Belgium is made from the
best estimate we are able to obtain; in neither case is it claimed to be
accurate, as those banks make no distinction in their weekly returns, merely
reporting the total gold and silver; but we believe the division we make is a
close approximation.
t The Austro-Hungarian Bank Statement is now issued in Kronen and
Heoer instead of Gulden and Kreutzer. The reduction of the former currency
to sterling £ was by considering the Gulden to have the value of 50 cents. As
the Krone has really no greater value than 20 cents, our cable correspondent
in Iiondon, in order to reduce Kronen to S,, has altered the basis of conversion
by dividing the amount of Kronen by 24 Instead of 20.
THJE RISJE Ilf
We
thi?
many
the very successful
at
The
V
JAPANUSU
suppose that
do not
-week
.
CBUBIT.''^
people were surprised
of the
flotation
new
and extraordinary victories of the Japanese on sea and land 5 the apparent collapse, political and financial, of their antagonist the prosJapanese
loan.
brilliant
;
pect of early peace as a result of these conditions, and,
was hid
for even by Berlin before it was obtained by i!^ew York
and London bankers these were developments of a nature calculated to stimulate the interest and imagination of the investor, and to bring him in as an,
We do not mean by
enthusiastic bidder for the bonds.
not least, the knowledge
that the present loan
—
this
that
the
the contrary,
relatively
is
high price obtained
we
are
much
inclined
Japanese government might, at the
better
terms than
stood out for
for
this,
On
a result of momentary enthusiasm.
it
did for
to
think
Kor
that the
have obtained
start,
initial
its
such concessions.
loans, if
is
it
it
bad
likely to
be
90 in the Loncontended that a 4J
don market, with a maturity twenty years hence and an
per cent loan, sold at
optional redemption right at par in five years,
at a very exorbitant price.
In matters of
is
placed
this sort, par-
ticularly with a short-terra loan, the investor is quite as
apt to keep his eye on the necessary accretion of value
before maturity as on the simple interest rate paid by th*
terms of the loan.
Whatever may be
said,
however, as
to the valuation
immense advance ia
the war began is undis-
of the present loan, the fact of an
the quoted credit of
Japan
since
This rise in credit has been proved in o;her
on
November's,
decline in the interest rate, exacted
a loan sold at nearly the same price as last
4J per cent. In 1903 the highest
price reached by Kussian 4 per cents on the English
market was 103 the highest quotation for Japanese
fours 89J.
It will be noticed that those Japanese bonds
were not, like the subsequent war issue, secured by an/
to
;
Current y
34,058,85L'
100,495,000
Knssia
Aust.-Han.* 48,181,000
14,916 000
Spain
from 6 per cent
Het Interior
Movement.
Shipped bi
.V.
of
£
39.753,914
ways than by the
following gives the week's
Total.
39,753,914
puted.
4 8385, and grain for payment, 4 8420'2)4 8425.
The
Tot/H,
£
Japanese loan
84^
4
5
.
long,
Hirer.
£
Ereland...
France
10 points for long, comon Friday of last week, to
4 8380^4 8390, those for short 20 points to 4 8585®
4 8590 and for cables 25 points to 4 8615^4 8620. The
market was strong and it so continued on the following
day, when long advanced 20 points to 4 84'S)4 8410,
short 15 points to 4 86'S)4 8605 and cables 15 points to
4 8630'a)4 8635. On Wednesday the market was easier
at a decUne of 10 points for long to 4 8390'©4 84, of 20
points for short to 4 8580'S)4 8590 and of 5 points for
On Thursday there was a
cables to 4 8625'S)4 8635.
recovery for long of 20 points to 4 8410^4 8415 and of
10 points for short to 4 8590'2)4 86; cables were unchanged. The market was steady on Friday and 5 points
31, 1904,
Gnlfl.
centre.
feature
Marcn
30. 1905.
of
apprehension
Thereupon exchange grew easier,
though subsequently there was a partial rally in response
to a demand lor remittance by Saturday's steamer. One
that
at
March
Bank
THE CHRONICLE.
1204
of revenue.
special pledge
When
the
war broke out
the same Russian bonds sold at 96J and Japanese fours
The Japanese bonds, in fact, declined to 62 last
at 72J.
From
April.
perial
000
000
Bank
end of 1904 $9,400,beyond the same date in 1903 and $22,500,above 1902.
That this was not a consequence
stood at
the
had a subsequent of such trade reaction as at times inflates our own idle
87f, while the Rus- bank deposit fund was shown by the fact that exchanges
these figures they hare
recovery on the London market to
sian 4 per cents have lately fallen to 87, and this week,
in
have touched 82f on the St.
Petersburg Stock Exchange.
These figures are worth some particular attention,
not only because they show the credit of Japan to have
creased 7 per cent over the same
according to the
cables,
that
paralleled
faiily
but because
of Russia,
of the
highly interesting light which the changed quotation for
the bonds of each of these two countries
whole idea
of the status
of the
throws on the
belligerents with which
remembered that from the
start the point was made on the European Continent
that thi'ee or fom* years of warfare would exhaust Japan
both physically and financially. The saying of the
Russian Finance Minister, "The war will be won at this
desk," is sufiiciently familiar; so is M. Witte's assertion,
made as recently as last November, to the following
the
war began.
It will be
effect:
"Perhaps the Japanese can carry on the war one and
two at the most two and a-half yeai-s. Considering the finances alone, we can keep it up for four
Other factors being left out of account, the Japyears.
anese can therefore be brought to sue for peace by their
—
»-half,
financial ruin."
Japanese Clearing Houses
the
of the
people
themselves,
Bank showed an
Savings
—
most remarkable instance in the irony of history.
yet the financial world at large does not appear
to
happened
to
strain of
large
new
Post Ofiice
increase fi'om
increased
foreign loans, but has paid in addition largely
taxes
and
subscribed
has
home
at
to
a.
$140,000,000 internal loan.
In the history of war finance, the Russian and Japanese episodes are likely hereafter to stand out from
other similar operations in a light peculiar to themselves.
There have been other occasions when loans of a solvent
government have been sold at absurdly low rates during
Some
prosecution of a war.
of Pitt's
last loans, in the
Napoleonic struggle, realized on the market barely 50
But
per cent of their face value.
this
happened
after
war had been long-continued, and when English credit
was loaded down with an unparalleled and constantly
Even
probably most
On
the other hand,
Low
vided
an
equally
whole,
is
level in
anomaly.
interesting
the
the future,
mind
of
towards
way
pro-
What
will
a different
has in
impress
Japan's
seen, at the very outset,
the attitude of Russia
burdens
financial
have historian of
Government which was confifive months ago, as the certain
condition
for the
which has not only been confronted with the
war and the exactions of heavy interest on
its
the Russian
and
for a nation
for
grasped the fact that precisely that has already
1903
in
of the
returns
in-
$15,600,000 at
the end of 1903 to $18,600,000 at the end of 1904.
This, it appears to us, is an exceedingly strong showing
—
—
war had not yet really begun
the first bond issue of the Japanese Government.
But now comes in what we are witnessing to-day
fully
As
this belief
the land
December
last
month
more than 40 per cent over 1902.
was prevalent in other quar- increasing mass of obligations.
ters than those of Russian finance, and it probably had credit was touched, as we have
much to do with the low bid made by the bankers last and has since been rising.
Undoubtedly,
May when
[Vol. lxxx.
•
the
unbiased
surveying the episode
as
a
the coolness with which the Russian Ex-
chequer assumed fi-om the start that French bankers and
would not venture to refuse pei-petual continufate of Japan.
For if it be asked how the financial ex- ance of the loans which had already crowded the strongThat Paris itself
haustion predicted for Japan would have made itself vis- boxes of Paris and the provinces.
ible, the answer naturally would be, either that foreign appeared to share this impression, up to a very few
lenders would be unwilling to risk their money any weeks ago, is not the least remarkable fact in the aflfair.
longer in such loans pending continuance of war, or else It has ended, however, as a great credit undertaking on
in the sudden dyringthat distress and dissatisfaction at the war, voiced in the such a basis is very apt to end
dently predicted, four or
investors
—
home communities
of the belligerent power, would force
that power to conclude peace, even
if it
wished
to escape
from such an outcome. But it is exactly these two
events which have occurred in the case of Russia.
She
is
at present apparently unable
to raise
up of the entire source of
credit, at the
hour most incon-
venient for the borrower.
NEW YORK CENTRAL REPORT FOR
HALF--
YEAR.
money from her
The New York Central & Hudson River Railroad
and she is confronted by protest and
resistance at home which bids fair of itself to make Company, having changed the date of the closing of its
further prosecution of the war impossible.
In other fiscal year from June 30 to December 31, submits a
words, exactly the prediction which the Russian admin- report for the half-year to December 31 1904, covering
istration launched so jauntily against Japan has been the period since its report for the year ending June 30
turned against themselves.
1904. As the results embrace only six months' operaNo doubt much of this result is due to the quite unex- tions they do not possess the importance which a report
Nevertheless they are
pected military achievements of the Japanese and to the for a full year would have.
they
and
far
as
go,
as comparison is furcrumbling away of Russia's resistance in Manchuria. conclusive so
But we have felt from the start that the idea of hoUow- nished with the corresponding six months of the previness in .lapanese resources, physical and financial, was ous year, they afford an accurate guide to the course of
ill grounded and that continuance
of the war, even for the road's income and traffic.
a very considerable period, might ])rovide some notable
The company issues complete quarterly returns each
surprises for people who held such theories.
Recent three months, and these have correctly foreshadowed the
European
friends,
despatches which have
come from Tokio confirm
abso-
showing
for the
half-year.
In
brief, gross
earnings
in-
view expressed some creased $890,987 as compared with the same six months
months ago. They show that bank deposits in the of 1903 and net earnings increased $528,003. This
arious Japanese institutions outside of the Im- must be regarded as a gratifying exhibit, for, as was
lutely Minister Griscom's optimistic
Apr.
1,
THE CHRONICLE.
1905.]
pointed out by us on a previous occasion, about the only
special favorable circumstance during these six
too,
should not be surprised to hear, had followed in
months considerable part from the extensions and feeders
in 1904 (as far as general conditions were concerned),
was
we
1205
the extra passenger traffic derived from the World's
visible benefits are evident
had to bo moved at low been pursued in
On the other hand, there were some adverse cir- years.
rates.
cumstances. For instance, there was a marked shrinkCombining the
Fair at
St.
At
vided in Pennsylvania.
Louis, albeit this
all
gain in
events, very important
from the policy which has
regard
that
pro-
during the
lew
last
lumber and the ore
age in the grain traffic, this following in part fi-ora defic- tonnage with the gain in the coal and coke tonnage,
ient crops and in part from the high level of prices we have an aggregate increase in these items of traffic
maintained in this country, owing to which the export for the six months of no less than 1,030,709 tons. In
demand for grain was almost entirely cut oft, and as a this way it happened that notwithstanding the loss in
consequence grain shipments to the seaboard
The reduction
small proportions.
in the
fell
the
the grain and flour tonnage already referred to there
to
volume of the an addition
tonnage
to total freight
was
months of
for the six
Another point deserves to be noted as
For instance, only 1,109,445 tons of grain were moved illustrating the importance which the coal tonnage is
in the six months of 1904, against 1,267,357 tons assuming in the road's business.
Of anthracite and
in the six months of 1903, a loss of 157,912 tons, or bituminous coal and coke together the system in tlie
The quantity of flour transported was six months of 1904 moved no less than 7,019,998 tDu.s
over 12 per cent.
only 482,725 tons, against 557,984 tons, showing a fur- out of a total freight tonnage of all kinds of 19,658,749
ther loss of 75,259 tons, and making the decrease in the tons, the coal and coke tonnage thus forming over onetwo items 233,171 tons. It is true that general trade third of the same. The rates realized on the freight
and business, which was depressed during the whole of traffic were lower for the six months of 1904 than
the first half of the calendar year 1904, distinctly im- for the six months of 1903, the average having been only
grain tonnage
plainly visible in the traffic statistics.
is
967,871 tons.
6'49 mills per ton per mile, against 6*64 mills,
proved in the latter half of the year, but the improve-
but this
ment occurred too late in the period to count for much decline followed naturally from the increase in the proin the 1904 results.
And yet some benefits did accrue portion of low-class tonnage moved.
We have gone thus extensively into a discussion of
to the railroads, the I^ew York Central among the
number, from
closing
this
revival
months of 1904
creases occurred in
—we
many
these statistics because they serve so clearly to illustrate
of business activity in the
mean
that moderate
how
in-
items of general freight and
merchandise by reason of that
the good results
1904 were obtained.
for
Of
the
$890,987 increase in gross earnings for the six months,
$698,578 was derived from the freight traffic and $123,-
fact.
But the circumstance of chief importance in the good 912 came from the passenger department. This last, as
showing of earnings was the expansion in the com- already indicated, was due to the extra travel in connecpany's coal
We have many
traffic.
ferred to the steps taken by the
this coal business
times in the past
management
through the providing of
tion
re-
to develop
new
with
But
Louis.
Louisiana Purchase Exposition in St.
the
the expense accounts
of improvement
feeders
also furnish evidence
and progress, resulting from the policy
and connections for the lines operated in Pennsylvania. being pursued in the administration of the property. As
We have also often referred to the plans which have indicated above, with $890,987 increase in gross earnbeen perfected for handling this coal business with ings there was an augmentation of $362,324 in ex-'
economy and in an advantageous manner. As recently penses. This increase in the expense accounts, howas the issue of the
Cheoniole
of October 8 1904 (in
ever,
analyzing the company's annual report for the year end-
ing June 30 1904)
we
it
from
entirely
outlays
to
the
the
fact
amount
622 were included in the expenses of
furnished a resume of what had
been accomplished in both directions, showing that where
one engine can now haul 70 cars on the Pennsylvania
Division,
followed
construction
that
of
new
$1,215,-
1904, against
$600,759 included for similar outlays in 1903.
Except for this, instead of an addition expenses would
have shown a diminution of $252,539. Cost of cononly
formerly required nine engines to haul 40
and coincidently the time has been reduced from
30 hours to 10 hours. The car service, which cost 83
cents per car, has been decreased to 25 cents.
Such changes and improvements were sure to bring a
ducting
cars,
notwithstanding
transportation,
volume of both the passenger and the
decreased $218,929.
One
the
larger
freight business,
factor in this reduced cost of
was the lower price of fuel, but in order
further profitable extension of the coal business, and ac- to see what has been the main element in the greater
cordingly it is no surprise to find that the bituminous economy with which the road is being operated, one
There we find
coal tonnage for the six months ending December 31 needs but turn to the train statistics.
1904 was larger by 155,077 tons than that for the last that a further increase of 25 tons was established in the
six months of 1903; that the coke tonnage at the same train-load, bringing the average (including company
time increased 46,161 tons, while the anthracite tonnage freight) up to the excellent figure of 459 tons. The
was added to in the amount of 278,216 tons. The coal significance of this addition to the train-load is made
and coke tonnage combined gained 479,454 tons for apparent when we say that, though the average rate
the six months.
It also appears
increased 200,047 tons.
transportation
received per ton per mile, as already pointed out,
that the ore tonnage
$2 55 per mile run in the six months
against only $2 43 per mile run in the six
the trains earned
This increase in the ore ship-
ments undoubtedly had its foundation in the revival in of 1904, as
the iron and steel industryj still it is a question whether months of 1903.
the development work of the company in Pennsylvania
It is not necessary
giving the lines of the system access to so much new
territory
did not in great part furnish the basis for the
increase.
Then we
go into an analysis of the
changes in fixed charges or in other income for the six
months.
Suffice
it
to
to
say that
after providing for all
j
was likewise an iu- such charges, and also the 2J per cent dividends for the
the lumber tonnage, and this, six months on New York Central stock, a surplus re-,
notice that there
crease of 351,208 tons in
fell off,
'
THE CHRONICLE.
1206
niained on
operations of the six months in
tlie
This
$1,765,757.
the
is
balance, too,
new
forgotten, after providing for
in
amount
is,
the
new
should not be
it
together (that
construction outlays charged to expenses and
providing for these outlays
and for all fixed charges and the 2.J per cent dividends
on Central stock) make 82,981,379, equal to over 2 per
cent on the 8132,250,000 of Central stock outstanding.
the surplus remaining
after
Of course the fact must be borne in mind that the six
months here reviewed cover by far the best half of the
Out of the 81,765,757 surplus for the six months,
year.
81,500,000 was set aside as a special improvement fund
for new equipment and betterments.
The report refers to the continuous progress during
the six months upon the enlargement of the Grand Central terminal facilities in this city and upon the new
power houses and other work in connection with the
electrification of the company's lines to Croton and ISTorth
known, the plans for the new
Grand Central Station buOding have been submitted to
As
"White Plains.
the
made
electric
first
Reference
approval.
for
is
also
In view
extend the functions and
of the proposal to
Commerce Commission,
authority of the Inter-State
the supervision which
it
exercises over the
in
railroads, a
comparison of results before and since 1887, when Government regulation began, seems desirable. W^o accordingly
facts
brmg
together in
present
the
certain
article
and data having an important bearing upon the
As
subject.
appear, they
will
lead
some
to
rather
striking conclusions.
The Inter-State Commerce Law was approved by President Cleveland on February 3 1887, and became effective sixty days later.
Prior to that time there had been
no statutory restrictions upon the charges for inter-State
railway services,
and no Federal supervision
of those
charges except such as might be exercised by the United
States courts in the application to inter-State
of the principles of the
common
commerce
law.
allusion, too, in the report to
Under the provisions of the law
State Commerce Commission has
reports
statistical
1887 the Intercompiled annual
of
descriptive of the railway system of
and its operations, and the sixteen yearly
volumes which now bring the record up to June 30
1903 afiord the basis of most valuable comparisons
what has been
between the different years of the period of statutory
made on November 12
locomotive was
1904.
There
is
that a successful test of the company's
to the fact
FREEDOM.
is
authorities
city
RAILWAY RESTRICTION AND RAILWAY
construction outlays
The two items
of 81,215,622.
amount ol
[Vol. lxxx.
the country
another feature in the recent history and development of
Fortunately, too, through the enterprise of
regulation.
namely the acquisition of local electric
the United States Department of Agriculture, under
traction lines in the territory between Albany and
the late Secretary J. Sterling Morton, a comprehensive
The purpose is obvious enough. It is not an
Bufialo.
the
system,
attempt to throttle competition, but a movement to use
these trolley lines as an aid in supplementing the service
furnished by
the
steam
must
it is
easy to see
result alike to the
Central
important benefits
tliat
communities served and
to the
portant points on the line, Avhile the local trains run
only at
Under an
long intervals.
electric
or every half hour, and thus the small towns will get a
while
service,
time the
Central will be supplied with valuable feeders.
The company's immediate
have been
finances
vided for by the sale in 1904 of 830,000,000
cent gold
debentures;
826,500,000
hence in
amount
of
for
time will be large, but
it
of
new work
this
cur-
Of
of 834,892,999.
being carried
is
It
possible,
is
therefore,
seventeen years of statutory regulation for which
statistics are available
to
official
of the period of similar
immediately antedating the adoption of the
duration
The
and those
first
Commerce Law.
comparative period selected
was subject
than those imposed by
— that
commerce, being
to
also
from
no other limitations
with the year 1870 and ended with that
period of statutory restriction,
during
free
commercial conditions
—began
of 1886.
of seventeen
The
years
began with 1887 and extends through the fiscal
The length of the railways of the United
year 1903.
States at the beginning and end of each of these periods^
and the increases, appear below.
Railway
purpose fi'om time to
should be remembered that
4 per cent debentures were
authorized in 1904, leaving a considerable
amount
miiea
Period ot free
Period of
le.
commerce— Year 1870..
4.9,168
Yeai 188o..
132,635
144,676
207,977
restriction—Year 1887..
Year 1903..
still
,
Increase.
Miles.
P. 0.
»
83,467
169-76
63,301
43-75
Thus during seventeen years of freedom the railway
available for future use.
will be recalled, the Central
jjurchased the
obtained are either fairly
make important comparisons between the average railway rates and other significant facts of the period of
statutory restrictions,
per
evident from the fact that
casli)
on and the requirements
As
impossible to secure
it
or in other cases are variant in plainly
directions.
pro-
amount
December 31 1904, with
(including this
altogether 850,000,000
is
data
the
which inter-State railway
813,371,115 ot actual cash in
the hands of the Treasurer
course an extensive
made
duration,
the balance sheet shows
rent assets
is
new 4
this
The company
appears in the present report.
easy financial condition, as
of
representative
Inter-State
same
the
at
complete results,
traction
system, however, cars can be run every fifteen minutes
more frequent
railway operations
1887 was undertaken in 1896, and, although the
ascertainable
Express trains stop only at a few im-
itself.
of
a local traction
system developed on the extensive plans contemplated
in this instance,
prior to
records
available
of the
conditions of the inquiry
With
lines.
study
on December 22 1904
New York & Ottawa
Kailroad at foreclo-
system increased, proportionately to its length at the beginning, four times faster than during seventeen years of
During the period
were
since the close of the year the company has also taken built at the rate of 4,910 miles per annum, while during
over the St. Lawrence & Adirondack and the Eutland the succeeding period of restriction, although the United
llailroad, which previously had been operated merely as States had grown amazingly in population and in finansure sale.
This fact
affiliated roads.
of
its
own
to both
is
In these ways
it
has
tlius
Ottawa and Montreal.
valuable acquisitions to
question.
mentioned in the
it,
report.
But
restriction.
obtained linos
cial strength, the
That these are
miles.
no one will be inclined
to
of freedom, railways
annual rate of increase was but 3,724
The hnancial depression
earlier period,
of 1873, included in the
was quite as serious as that of 1903, which
took placo during the later period.
The
following table
Apb.
THE CHRONICLE.
1, 1905.]
THE PEEIOD OF STATUTORY RESTRICnON.
Length,
one
Avrage
Freight
lieve- Sateper
contains important data concer ning railway traffic move-
ments, rates and earnings for each year
1886, inclusive.
PERIOD OF FKEK
Average
T<w« one
mile per
mile of
train-
Freight
revenue
in
per
Eevemte
per
miles.
mile.
ton.
81-72
91-19
84-92
93-4
89-01
99-58
110-24
111-14
118-90
128-57
134-83
134'32
137*55
127-24
132-04
140-07
131-94
1870. .. 258,694
1871. .. f 53,796
1872. ..331,958
1873. .. 354,716
1874 ,. 359,«33
1875. .. 3'll,g07
1876. .. 350.S52
1877. ,. 34'^,773
1878. .. 331,094
450,700
1879.
1830. . 465.732
1881... 479,618
1882. 457,016
1883. 411,921
1884. 410,461
442,629
1885
1886. 473,659
.
,
'Carrenoy values reduced
97 67
100-87
mills.
18S9*
5,171*
5,520*
5,143*
4,794'
4,260*
4,051*
4,266*
4,534*
4,934
5.539
5,393
4,728
4,856
1-66*
1-61*
1-57*
1-44*
1-48*
1-41*
1-51*
1-52*
17-89*
18-46*
1-29
1-36
1-33
1-17
1-34
1-30
1-19
1-14
4,621
4.379
4.5fO
H4-G1
lC-13*
152C*
14-21"
12-17*
12-86*
1296*
H-:3
12-32
11-88
11-02
12-05
11-36
10-11
9-99
has been said, the Department of Agriculture, in
The
per
ton pet
mi'e, in
ntile».
mi'e.
l07l.
mill*.
116-20
116-86
127-36
119-72
120-00
124-39
125-60
125-88
122-32
124-47
128-27
12S-78
128-85
128-53
135-05
131-04
132-80
in the foregoing for the
to
years 1887 and
91-84 per cent of the
rail-
way mileage
then
from 1889
1903, inclusive, being from the reports of
to
the Inter-State
which the foregoing
in
Those
operation.
Commerce Commission,
for
the years
are substantially
complete.
data were obtained, was unable to secure information
for all the railway
ntte
ptr
1888 represent from 71-32
Agriculture.
prosecuting the inquiry through
revenue
in
toTis.
155-11
154-84
179-35
175-12
181-57
181-79
183-97
179-80
18S-69
19S-81
2C4-62
226-45
243-52
270-85
281-26
296-47
310-54
The average
to equivalents in gold.
Note.— The data in the foregoing have heen taken from Bulletin No15, MleoellaneouB Series, Bureau of Statistics, U. 9. Department of
As
of haul
9-84
$1-16
$4,769
1-09
9-41
4,482
9-23
1-17
4,188
4,P68
1-10
9-41
1890.... 487,245
8 -9?
1-09
4,569
1891.. .. 502.705
1-13
4,922
8-98
1892.. .. 543,365
1-12
8-79
4,883
1893.. ,.561,232
1-10
3.981
8-60
1894 . .. 457,252
1-06
8-39
4,107
1 = 95.. .. 479,490
1-03
4,322
8-06
1896.. .. 523,832
1-05
7-98
4,240
1997,. .. 519,079
1-01
7-51
4,773
1898.... €17,810
•97
7-24
4,895
1899.... 659,565
7-29
-S8
5,466
1900.... 735,566
1-05
7-50
5,804
1901.... 760,414
1-03
7-57
6,114
1902.... 793,351
1-05
7-63
6,630
1903.... 855,442
Note,— The data in this table have been taken from the reports of
the Statistician to the Inter-State Commerce Commission and (for the
first t\TO years) Bulletin No. 15, Miscellaneous Series, Bureau of
Statistics, D. S. Department of Agriculture.
mile, in
$1-67*
trainload, in
read.
Tear.
1887.. ,513,513
18S8.. .511,894
1889.. 448,069
Hate per
ton per
$4 830*
95-68
103-89
97-08
105-88
107-22
109-02
115-58
111-73
109-19
111-10
108-89
111-29
114-65
117-54
Ton's
mile, per
/nxie of
to
COMMERCE.
Length.
of haul
loa(/,in
long.
road,
Tear.
INTER-!STATE
from 1870
1207
The
mileage of any of the years covered.
tables of averages
which have been introduced
between
the first and last years of the two periods and between
the net changes of those periods.
Such comparisons
afford the basis for very significant comparisons
shows the proportion of the
mileage of the country covered by each of the averages
given for the first and last years of the period.
following statement
follow:
^Percentages.^
1870.
49-20
36-57
46-82
Yons of freight one mile per mile of road...
Average train-load
Distance traversed per ton (length of haul)...
Freight revenue per mile of road
Revenue from each ton of freight moved.
Bate per ton of freight per mile
......75-90
The intermediate years show a gradual
proportions of mileage covered
66-27
48-93
Period of freedom.
1870.
1886.
Tons ono mile per mile ) ^68,694
473,659
of road
j Increase 76-28 p. c.
Average train-load, In )
81-72
131-94
tons
5 Increase 61-45 p. c.
Average distance per)
97-67
114-61
ton. In miles
5 Increase 17-34 p. c.
Freight revenue per) $4,830
$4,550
mile of road
5 Decrease 5-80 p. c.
$1-14
Average revenue from)
$1-87
each ton
5 Decrease 31-74 p. c.
0-99
Rate per ton per mile, in )
18*89
mUls
) Decrea8e47-ll p.c.
1886.
79-23
74-49
79-23
88-82
79-45
79-23
—
,
increase in the
from the lower percent-
ages of the year 1870 to the higher percentages of 1886.
A little consideration will
probable
the
eflFect
years upon the
-enable
of the
general
any one
With such allowances
understand
omissions of the successive
in
the
average.
to the corporations
already in-
directions
dicated for the incompleteness of the data for the period
The of freedom, as each reader shall
were obtainable was comparisons, show that the density
trend of each
mileage for which the early records
naturally that belonging
to
Period of restriction,
1887.
1903.
513,513
855,442
Increase 66-59 p. o.
155-11
310-54
Increase 100-21 p.c.
116-20
132-30
Increase 14-29 p. o.
$4,769
$6,630
Increase 39-02 p. o.
$1-16
$1-05
Decrease 9-48 p. 0.
9-34
7-63
Decrease 22-16 p. o.
Item.
having the
average ton-mileage per mile of
see
of
fit
to
traffic,
line,
make, the
that
increased
is
the
more
most complete and scientific business organization. JTow rapidly during the first period than during the second.
it is evident enough that these companies are commonly
It is certain, however, that the real increase of the
those whose business is most successful and prosperous. In first period was greater than is indicated, and therefore
other words, the mileage excluded had relatively less
Dense
It
traffic
means low
follows that the
first
in density of traffic, the
the rates of augmentation of the
traffic.
rates but high earnings per mile.
doubtedly
column understates the increase show.
second understates the increase
tons
differed
The
carried
more widely than
train-load,
that
is
periods
different
un-
the percentages
the average
number of
one mile per mile run by freight trains,
shows a decrease in earnings has also increased greatly, and probably somewhat
per mile of line where probably complete statistics would more steadily,
indicate.
All
averages
than the
show a slight increase, the fifth understates the decrease of the averages which represent earnings decreased
in average earnings per ton of freight carried, and the from 1870 to 1886, but from 1887 to 1903 average earnin the train-load, the fourth
last
understates the decline in average earnings per ton
A
per mile.
generalization
ings per mile of line increased.
concerning the distance however,
]\Iuch
of
the increase,
was unquestionably consumed by increased
more difficult, but fortunately much less im. operating costs, while another important portion repreportant.
The increase shown in this average is not very sents the augmented annual capital charge properly due
significant, but it is probably excessive.
In connection on account of vast expenditures for betterments and the
with the averages expressed in dollars and cents, the consequent very much higher quality of the average mile
fact that currency values for the period during which of railway line.
Xevertheless, it is most significant that
gold was at a premium were re<luced to tlieir equiva- both the average charge per ton of freight, regardless of
lents in gold by the Statistician of the Department of the distance it is carried, and the average rate per toih
Agriculture should be borne constantly in mind.
per mile transported, decreased much more rapidly when
The following table contains averages similar to those inter-State railway commerce was wholly free than when
given for the period of freedom, for the years of restric- it was restricted by Congressional legislation and by the
tion, from 1887 to 1903, inclusive.
supervision of the Inter-State Commerce Commission of
traversed
is
I
I
'
I
THE CHRONICLE.
1208
On account of the omissions noted, it
fVCL. LXXX.
were assessed
and municipal taxes at $43 27
$36 49 for the year 1900. Conformably to the laws of Maryland, payment of these taxes
To rethat the decline in the rate per ton per mile during the was demanded of the Transportation Company.
same period of freedom was much more than 4741 per strain compliance with this demand Corry commenced
Yet the corresponding, but far more accurate, suit in the Circuit Court of Baltimore, making the city
cent.
The Court entered a decree disfigures for the period of restriction, show decreases of authorities defendants.
the United States.
is
certain that the decline in the rate per ton from 1870 to
1886 greatly exceeded the 31-74 per cent shown and
but
948
and 2246 per
per cent
cent,
respectively.
for the year
missing the
State
for
1899 and
bill
at
On
of complaint.
appeal to the Court
basing com- of Appeals of Maryland, the judgment was affirmed, and
Undoubtedly there are valid objections to
parisons of far-reaching significance upon data
years.
To obviate
this objection
for single
the following table,
the
and
first
last
quinquennial periods of each of the
seventeen-year periods
under consideration, has been
prepared.
Period of freedom.
187074. 1882-86.
439,137
Tons one mile per mile ) 333,799
of road
5 Increase 31*£6p. o.
133*77
88-06
Average tram-load, In)
tons
5 iDorease 51'91 p. 0.
99-04
113-40
Average haul per ton. In ?
miles
5 Inrreaee 14-50 p. o.
$4,629
Freight revenue per mile)
$5,093
of road operated
5 Decrease 9"11 p. o.
$1-59
$1-23
Revenue from each ton )
moved
5 Decrease 22*64 P.O.
17*31
10*91
Bate per ton per)
mile
> Decrease 36-97 p. c.
Period of re$triction1687-91.
Item.
The results
no
1S9903.
60,828
492,685
Increase 54*42 p. c.
28(-*53
169*22
Increase 65*78 p. c.
120*03
131*25
Increase 9*35 p. c.
$4,515
$5,782
Increase 28-06 p. c.
$1-12
$1*02
Decrease 8-93 p. o.
-;
7*45
S-37
Decrease 20*49 p.
o.
of the comparisons in the foregoing table are
less significant
than those afforded by the data in the
payment per ton nor that in the average
payment per ton per mile was stopped by the adoption of
Supreme Court has now
The attack on
also
upheld the
the assessment
was based on two main
That as the authority of the State of
Maryland to tax is limited, by the Fourteenth Amendment to the Constitution of the United States, to persons
and property within the jurisdiction of the State, and as
grounds.
(1)
was not in rem against the stock, but
was in personam against the owner, the power attempted
to be exercised, as it imposed a personal liability, was
wanting in due process of law; and (2) that the legislation of the State of Maryland is repugnant to the Fedthe tax in question
eral Constitution because of
the
omission to directly re-
quire the giving of notice to the non-resident stockholder
of assessments
by him as
taxing
statement which preceded it. Although neither the decline
in the average
S.
judgment.
containing comparisons between the yearly averages of
the
U.
on
his stock
and opportunity
for contest
to the correctness of the valuation fixed
by the
officers.
Justice White,
who
delivered the opinion
of the
U.
Supreme Court, points out that the Court of Appeals
of Maryland disposed of the contention of a want of due
restrictive legislation, the statements supplement each process by deciding that it was in the power of the State
other in proving that rates moved downward much more of Maryland to fix for the purposes of taxation the situs
rapidly during the period when inter-State railway com. of stock in domestic corporations held by a non-resident.
merce was free from statutory restriction.
That Court also held that as such corporations Avere
S.
created by the State, and were subject to
authority,
FOWUB OF A STATU TO TAX
NOIf^-
RESIDENT SRAREHOLBEBS.
Whatever doubt may have remained
pose as
such
a
it
regulating
was within the power of the State
condition
corporations
as to the right of assessed
its
on
might
to
the right
duty
the
the
and
stock,
compel
of
to acquire
paying
moreover
to
im-
stock in
the
that
pay
taxes
the
such
a State to tax non-resident shareholders in a corporation
State
it
been removed
by a deciUnited States Supreme Court rendered a few
weeks ago. It has long been settled that the local au-
taxes on behalf of the stockholder and confer upon the
chartered
by
has
banks.
corporation
to
reimbursement
from the stockholder when the payment was made. The
could tax non-resident shareholders in national doctrine was that announced in American Coal ComThis latest decision establishes the fact that non- pany vs. Allegany County (59 Md. 185, 193), namely
sion of the
thorities
corporation a right
the
resident shareholders in domestic corporations can like-
that the
wise be taxed.
poration
separate
of action
to obtain
shares of the capital stock of a cor-
are authorized to be issued by the charter
from
the State and are subject to its control in
The case was that of James C. Corry against the derived
Mayor and Council of Baltimore. Corry was the owner of respect to the right of taxation, and every person taking
150 shares of the stock of the IS.Y. & Baltimore Transpor- such shares, whether resident or non-resident of the
1817 by the General Assembly of State, must take them subject to such State power and
Maryland (the charter was extended in 1876), and having jurisdiction over them. Hence the State may give the
its principal office in the
city of Baltimore.
Under shares of stock held by individual stockholders a special
tation line, chartered in
Maryland law the levy on property in Baltimore, both or particular situs for purposes of taxation, and may profor State and city purposes, is made by the municipal vide special modes for the collection of the tax levied
authorities.
In case of stock in Maryland corporations thereon.
owned by non-residents, the statutes declare that the
Justice White says there can be no doubt of the corsitus of such stock for the purpose of taxation shall be rectness of the view that it is within the power of the
at the principal ofl&ce
of the
corporation
in
Maryland,
and such shares are there assessed at their value
owners.
The statutes also impose upon a
to the
State to
fix for
the purposes of taxation the situs of stock
in a domestic corporation,
But
whether held by residents or
was further contended on behalf
Mary- non-residents.
land corporation the duty of paying for and on of the plaintiff' that though the situs of the stock was in
account of the owners the taxes assessed in respect tlie State of Maryland for the purposes of taxation, it
of the shares, and compel such payment without refer- was nevertheless beyond the power of the State to perence to the dividends, giving to the corporation a lien sonally tax a non-resident owner for and on account of
upon the shares of stock and entitling the corporation the ownership of the stock, and to compel the corporation
when it pays the taxes to proceed by personal action to to pay and confer upon it the right to proceed by perrecover the amount paid.
The 150 shares held by Corry sonal action against the stockholder in case the corporait
Ape.
THE CHRONICLE.
1905.]
1,
In brief, that as the situs of the stock
within the State was the sole source of the jurisdiction of
the State to tax, the taxation must be confined to an
tion did pay.
rem
assessment in
for
against the stock, with the remedy
enforcement confined
to the sale of the thing taxed,
and hence without the right
pay or
give
to
when
it
it
White
interested in
preservation
the
of the assets of the cor-
poration, could not be heard to object that the statute
them of the making of the
The condition attached to the Maryland
did not provide for
assessment.
notice to
compel the corporation to law that the stockholders, for the purpose of notice of
did pay a personal action the assessment, shall be represented by the corporation, is
not, in the estimation of the Court, arbitrary
declares that this
argument
is
wholly
without force, since the claim has long since in
effect
been foreclosed by previous decisions of the U. S. Supreme Court. He quotes in particular from First l^a-
Bank vs. Kentucky (9 Wall, 363), as follows:
"The mode under consideration is the one which Con-
tional
adopted in collecting
gress itself has
imposed upon the corporation, the stockholders, though
to
against the owner.
Justice
1209
its
tax on divi-
sonable, in
view
and unrea-
of the fact that the corporation, through
by the voluntary act of the stockholders,
constituted their agent and invested with the controlling
its officers, is,
management
of all
the corporate property
— that which
gives value to the shares of stock and in respect of which
the taxes are but
mere incidents in the conduct
of the
business of the corporation.
dends and on the income arising from bonds of corporaIt
tions.
is
the only
mode which,
certainly
and without
ITEMS ABOUT BANKS. BANKERS AND TRUST CO'8.
—The public sales of bank stocks this week aggregate 637
the shares,
on
resident or non-residentj and, as we have already stated, ahares, of which 644 shares were sold at the Stock Exchange
and 83 shares at auction. Oaly one lot, amonnting to 10
it is the mode which experience has justified in the Kew
shares, of trast company stock was sold. The 644 shares
England States as the most convenient and proper, in dealt in at tiie Stock Exchange were all stock of the National
regard to the numerous wealthy corporations of those Bank of Commerce, tha prices ranging from 334 to 235. The
hrst sale of Fifth National Bank stock since this record was
States."
in 1898 was made this week at 340.
commenced
It had been insisted that these rulings concern taxa
Skarts.
BANKS— ^et* Zork.
Price
Last previout tale.
224-225
Mar. 1905— 225
tion by the States of the shares of stocks in national *544 Oommeroe, Nat. Bank of
39LI4
13 Corn Exchange BaaK
Mar. 1905- 390
40 Flfkh National Bank
340
banks under the provisions of the Ii^'ational Banking Act,
If
10 Importers' A Traders' Nat. B'k 5901^
Jan. 1905— 590
2&6i«
and were therefore not applicable. In other words, the
20 Paoitio Bank
June 1904— 265
loss,
secures the
payment
of the tax
all
contention was that the principle had no application to
Trust CoM.PAVis»—lfew York.
_10Title Guarantee* Trust Oo....
taxation by a State of shares of stock in a corporation
Bold at the Stock Exchange.
far back aa this record goes.
created by
States
it,
because by the Constitution of the United
the States are
limited as to taxation to persons
and things within their jurisdiction and may not, therefore, impose upon a non-resident by reason of his property within the State a personal obligation to pay a tax.
In short, the claim was that the States are restrained
from affixing as a condition to the ownership of stock in
their domestic corporations by non-residents a personal
liability for taxes upon such stock, since the right of the
non-resident to
own
property in the respective States
is
protected by the Constitution of the United States and
may
not be impaired by subjecting such ownership to a
personal liability for taxation.
Justice
White
rejects
this
doctrine
in
toto.
He
*
661
fNo
sales since
Mar. 1905—
681
January 1898— as
—Mr,
Alfred H. Carfcig wag elected President of the Naof North Amarlea of this city on Tuesday, succeediag Mr. Richard L. Eiv^ard^, reaigaed. Mr. Curtis ia
very well known to daancial cirolea ia this and other cities,
baying always taken a prominent part in banking interests and
Mr. Curtis was formerly Cashier of the old Bank
activities.
of the S;ate of New Yjrk, and became C a, ahier of the National
Bank of North America when these institutions were nnited
in 1903.
The new executive, who is a New Yorker by birth,
oommenced his banking career in 1868 at the bottom of the
ladder, as a clerk in a Wall S:reet brokar's oflBlce, and is now
Vice-President of the New York Siate Bankers' Association
and Chairman of its committes on arrangemsnts. Hs is also
one of the original members of the New York Athletic Club.
Mr. Eiward B. Wire, until recently Assistant Cashier, was
appointed Cashier of the institution, succeeding Mr. Curtis.
tional
Bank
—This week Mr. T. Albeus Adams, President of the Qansupheld by the rulings of the
evoort Bank, 14th Siireet and 9th Avenue, disposed of his
United States Supreme Court concerning the taxation
stook in that bank at about double his purchasing prloe of
by the States of stock in national banks is that the
four years ago to interests affiliated with the Fourteenth
sovereignty which creates a corporation has the inci- Street Bank of this city. The O-ansevoort Biink was organdental right to impose reasonable regulations concerning ized in 1889, and is a depssitary for State and city fuuds. In
the ownership of stock therein, and that a regulation four years' time, during Mr, Adams's presidency, its deposits
increased from |669,333 Jan 36 1901 to |3,793,314 Maroh 33
establishing the situs of stock for the purpose of taxation
1906.
The capital stock is $330,000, surplus and profits |90,and compelling the corporation to pay the tax on behalf
Mr. B., Boss Appleton, Pres178, total resources |3,085,393.
of the shareholders is not unreasonable, nor can it be ident of the Fourteenth Street Bank, will become the head
regarded as an exercise of the taxing power of the of the Qsmsevoort Bank, whose other officers continue as
State over persons and things not subject to its heretofore. Since Mr, Appleton became associated with the
Fourteenth Street Bank, a little over two years ago, its dejurisdiction.
Moreover, the Court is of opinion that
posits have nearly trebled, and are now over |3,000,000.
Its
the authority so possessed by the State carries with
stock is at present nominally bid |300, although there la
it the power to endow the corporation with a right of none offered in the market.
On account of the change in
closely
these
banks
will
be
allied, the strengthened
recovery against the stockholder for the tax which it ownership
asserts that the principle
may have
paid on his behalf.
Certainly, says Justice
White, the exercise of such a power
is
no broader than
the well-recognized right of a State to affix to the holding of stock in a domestic corporation a liability on a
non-resident as well as a resident stockholder in personam
in favor of the ordinary creditors of the corporation.
Nor
there
does the Court consider
is
it
a valid objection that
no direct requirement of notice
stockholders of the assessments.
If
to non-resident
a tax was expressly
eajh with batter banking accommodations. Besides Mr. Appleton, the G^:insevoort
officers are: J. H. Killough, Vioe- President; P. M. Sayford,
Cashier; H, F. Meehan, Assistant Cashier. The directorate
includes B. Boss Appleton, T, Albeus Adams, John Crane,
Frauk Frommel, George Hotchkiss, P. H, Keahon, J, H, Kilrelations providing the depositors of
lough, Ei(7ard Sv7ann, Philip J. Britt, William J. Carroll,
P. M. Sayford,
—The
&
Trust
stockholders of the Central Bdalty Bond
the Livvyers' Tide laaurauoe Company of this
city have this week unanimously ratilisd the proposition to'
Company and
THE CHRONICLE.
1210
merge
the institatioas
a3 previoasly oatliaed
ia
these
colamns.
—Aboat
May 1 the Nineteenth Ward Bank, 57th Street
Third
and
Avdnne, will establish a branch on the southwest
corner of 86th Street and Second Avenua, in the Manhattan
Baildiag. Since July 1933, when the Van Norden Trust
Compuiy acquired control of the Nineteenth Ward Bank,
the institution has grown rapidly in strength and size, its re>
sources increasing 61 per cent during the year 1904. The
new branch will be knosvn as the "85th Street Branch." Mr.
Warner M. Van Norden is its executive officer,
^The announcement is made that hereafter the
—
Institntion
for the Savings of Merchants' Clerks, of this city, will be
known as the Union Square Savings Bank, the change in title
dating from to-day. The bank was incorporated in 1848. It
is located at 20 Union Square.
—At a directors' meeting
Thursday, Mr. Grsorge M. CumUnited [States Mortgage & Trust
Company of this city, was elected President, succeeding Mrt
George W. Young, who retires to engage in a general bankicgt
stock and investment business at 59 Cedar Street, The directors elected Mr. Young Chairman of the board and adopted
resolutions expressing their regret at his retirement and
last
ing, Vice-President of the
their appreciation of his serviceB,
sistant Secretary, Mr.
The resignation
of the As-
George A, Hard, was accepted.
The
board then elected the following cflBcers Clark Williams,
Luther Kountze, James Timpson and Eben B. Thomas, VicePresidents; Calvert Brewer, Secretary; Carl G. Rasmus,
Treasurer, and William C. Ivison Assistant Treasurer*
On the 2Sth ult. the employees and officials of the
institntion presented Mr. Young, the retiring President,
with
oak hand-carved "grandfathers'
a magnificent
clock" made by Tiflfaay.
The Cashier, Mr. H. L.
Servoss, made the presentation speech, to which Mr.
Young responded in a hearty and graceful fashion. The
clock's inscription reads: "Presented to George W. Young
with the unanimous good-will and respect of his associates in
the United States Mortgage & Trust Company—1893-1905."
The same evening Mr. Young entertained the entire official
and working staffs of the company at a dinner,
:
—Messrs. Donald Mackay, Latham A. Fish, George D.
Mackay and G.
T. HoUister, .partners in the late firm of
Vermilye & Co., have, with Mr. F. W. Kendrick, organized
a new firm under the name of Mackay & Co., with offices at
No, 26 Nassau Street. The house will have a branch office
in Boston and private wires to Verner & Co., Philadelphia,
and Thos. Branch & Co., Richmond.
—Mr. Adrian leelin, the founder of the banking house of
A, Iselin & Co., died on March 28 in the 87th year of his age.
Mr. I3elin for a half century had been prominently identified
with large financial interests. Of late years his time was
largely devoted to objects relating to the public welfare, particularly at New Rochelle, his summer home, to which he
gave a public park and provided a water supply.
—
The arrangement by which the Maiden Lane National
Bank, corner William and John streets. Is to bs placed in
voluntary liquidation and then converted into a State bank,
was approved at a special meeting of the shareholders last
Monday. As previously announced in these columns, the
bank recently came uoder the control of the Metropolitan
Life Insurance Company, and after April 29 will be known
as the Metropolitan B^nk, with headquarters in the Metropolitan Life Building, 23d Street and Fourth Avenue, and a
branch at the present offices of the Maiden Lane National
Bank, Other branches are to be established later.
Mr.
Henry OUesheimer will probably be made President whtrn
the new board meals for organizition April 29. The capital
stock will then be increased from $250,000 to |1, 0)0,030 and
the surplus from $12,500 to |250,C03. The directors are as
follows: John Anderson, D, Fairfax Bueh, David F. Batcher,
George E. Fahys, Robert D, Kent, Henry OUesheimer,
Charles H. Patrick, William M. Pdrkine, HirryS. Rothschild, William C. Soheide, Ojcar Soberer, Arthur A. Stilwell, I. F. Stone, L. W. Sweet and Sath E, Thomas.
—The purchase this week by Henry 8, Eedmo ad of the plot
at numbers 81 and 83 Pine Street ensures the erection of another bankiag edidce on that street and the removal to that
location of the firm of Redmond * Co., for many years aaaociated with its present address, number 41 Wall
Street.
We
I
Vol. lxxx.
uaderstand the intention is to erect a building of moderate
size, probably of three or four stories, where the firm of Redmond & Co. can be comfortably houEed. The plot consists
of about two city lots, and the price, it is understood, was in
the neighborhood of $750,000, representing about $150 per
square foot. The plot is about two doors from the SabTreasury and opposite the banking house of Speyer & Co.
—The Home Trust Company, at 184 Montague Street,
Brooklyn, to which we have previously referred in these
columns, will open for business next Wednesday morning.
The company was recently organized with a combined
capital and surplus of $750,000. The official staff includes :
William C. Redfield and
J. Edward Swanstrom, President
James N. Brown, Vice-Presidents Harold A. Davidson,
Secretary, and Andrew H, Mars, Assistant Secretary. As
the president and several members of the board are Scandinavians by birth, the company will strive to handle the
business of the many thrifty and flourishing Scandinavian
;
;
residents in Brooklyn
and Long
Island.
—
Brooklyn will soon have still another trust company.
The new concern now forming is called the Jenkins Trust
Company; capital stock, $500,000, surplus, $250,000, already
subscribed at $150 per share. Mr. John G. Jenkins Jr., the
executive of the Coney Island & Bath Beach Bank (which
latter institution is to be absorbed) will become President
of the trust company. Besides main offices at Gates and
Nostrand avenues, Brooklyn, the Coney Island & Bath Beach
Bank at Coney Island will be continued as a branch. The
incorporators are as follows: John G. Jenkins Sr,, President
First National Bank, Brooklyn; John G. Jenkins Jr., President Coney Island & Bath Beach Bank; Frank Jenkins,
President Williamsburg Trust Company; Frederick Jenkins,
Edward S. Jenkins, Henry B. Scharmann, Vice-President
Broadway Bank of Brooklyn; H. F. Scharmann, S. E, Jackman, Hermann Pepper, Louis H. Irwin, Charles L. Feltman,
Richard K. Haldane, Henry R. Ferguson and John Moller.
—President David A. Sullivan of the Stny vesant Bank of
Brooklyn was this week elected to the board of the Union
Bank of Brooklyn, with which the St uy vesant is to consolidate. Mr. Stephen M. Griswold has tendered his resignation
as President of the Union Bank, and will be succeeded in the
office by Mr, Sullivan, who will be elected to the post at a
meeting to be held on Tuesday next.
,
—Three new trustees have been added to the board of the
Albany Trust Company of Albany, N. Y,, the new members
being William H. Eeeler, Frank A. McNamee and.Edward N.
McEinney. The stockholders recently voted to increase the
number of trustees from twenty-four to thirty.
—The First National Bank of Yonkerg, N, Y., sends us its
statement of condition for March 14, as reported under the
latest call of the Comptroller of the Currency, printed on
paper that was used for old State bank issues,
—The
directors
of
the
National
Commercial Bank
of
Albany, N. Y., at a meeting on March 24, adopted resolutions
expressive of the sense of loss sustained by the Institution
through the death of their late associate.Gen.Charlea Tracey,
a member of the board for fifteen years.
—The charter
Bank of Troy, N. Y.,
at its expiration on the 23d inst., the in-
of the Mutual National
was not renewed
having been consolidated with the Central National
Bank, also of Troy, under the name of the National City
Bank.
stitution
—A recent issue of
the "Boston News Bureau" announces
the purchase by the United States Trust Company of Boston
of property having a frontage on Court Street and Court
Square contaiaing about 10,946 square feet and assessed for
$925,000— this including the land and the six-story building
on the
site.
The Trust Company occupies a part
of
the
premises.
—The New England Trust Company of Boston has let the
contract for the new structure which it ia to build for its
sole use at the corner of Milk and Devonshire streets.
As
reported ia these columns a year ago, the building will be
confined to two and a-half stories. It will be of Knoxville
marble with bronze doors and window frames.
—Harry W. Cumner has been elected Vioe-Piesldent of the
Boylston National Bank of Boston. It Is stated that the
bank's semi-annual dividend, payable to-day (April 1), is 2
per cent, a reduction of }4 P^^ c^'^t. The annual pay meats
Apr.
THE CHRONICLE.
1905.]
1,
since 1899 have been at the rate of 6 per cent; previona to
that date 6 per cent was paid.
— A dividend of 2 per cent has been
ors of the
Pynchon National Bank
declared to the creditof Springfield, Mas. It is
stated the creditors have already received 96 per cent of
their claims, the dividend just declared making the total 98
per cent, and leaving but 2 per cent still to be paid. The
bank has been
hands since June,
1211
Extended reference to the new building was given
the Chronicle of May 14 1904.
Avenue.
in
—The
Colonial Trust
paid-in capital
Company
of Pittsburgh will increase
from
|3,881,445 to $4,000,000, offering the
new issue to stockholders at $4C0 a share. Each stockholder
is given the right to subscribe to the same in proportion to
its
his present holdings.
—The Bank of Richmond,
—Dudley Porter, President of the Merrimack National
Bank of Haverhill, Mass., died suddenly in this city on Sun-
Richmond, Va<, has opened a
branch in the Wagner Drug Building, corner of Sixth and
Broad streets, with B. J. Wlllingham Jr., as Manager,
day night last. Mr, Porter had just returned from a twoweeks' trip from the South. He was sixty-eight years of age.
been made by the
in receiver's
1901.
—The
projected National Deposit Bank of Philadelphia
will open May 1 at 930 Chestnut Street. As noted in a previous item, the bank will have a capital of $200,000. John F.
Finney has resigned as National Bank Examiner for Central
Pennsylvania in order to devote his entire time to the new
bank, of which he is one of the organizers. William B.
Vrooman, formerly President of the American Trust Company of Philadelphia, will also be prominently identified
with the bank,
—Arrangements
of
for the opening of branches have also
new Bank of Commerce Sb Trust
of Richmond. One of these will be located on Fifth Street
near Broad, and will be known as the Bank of Commerce.
It will be in charge of Charles A. Pepple as Cashier,
The
other branch will be designated the Church Hill Bank and
will be situated at the corner of Twenty-fifth and Broad
streets,
Oscar E, Parrish has been chosen as Cashier of the
-
latter.
—The U. S. Comptroller of the Currency on the 17th ult,
approved the application to organize the Virginia National
Bank of Petersburg, Va, Mr. Augustus Wright, who
—George W. Roydhouse, who retired as President of the
lately became President of the Petersburg Banking & Trust
Northwestern National Bank of Philadelphia several months
Company, will be President of the projected bank, which
ago, is interested in a new trust company about to be
will have a capital of $300,000 and a surplus of $30,000,
launched in that city, to be known as the Glrard Avenue
—The officers of the First National Bank of Naehville.TenTrust Company. The concern will have a capital of $300,000
are interested in a new enterprise organized to operate
nessee,
and surplus of $100,000, and will locate in the neighborhood
banking,
a
trust and safe deposit business. The institution has
of Bidge and Girard avenues.
been styled the First Savings Bank & Trust Company, While
—It is reported that New York capital will become conall the details connected with the company's organization
nected with the Maryland Trust Company of Baltimore, the
have been completed, it will not begin active operations until
affairs of which, it is understood, are being placed in such
Oijtober next,when the First National enters its building now
shape as to enable it to resume business with a fall settleunder construction. The new conoern will then take posment with all its creditors. The rehabilitation of the comsession of the First National's present quarters, Mr, F, O.
pany will be accomplished chiefly through the Maryland
Watts, President of the First National, heads the list of
Finance Corporation, which, with a capital of $500,000, was
officers of the affiliated institution, the Cashier being L, K.
formed primarily with the view to liquidating the trust comThompson,
pany and raising a sufficient sum to pay all the latter's cred—Since Mr. Owen Tyler entered upon his duties as President
itors, as well as to lend whatever other assistance ia needed.
of
the Third National Bank of Louisville, Ky., on March 18, a
In the reorganization of the company it is planned to issue
very noticeable increase in its business has taken place. Asso11,000,000 of preferred stock and to reduce the present capiciated with Mr. Tyler in an official capacity is W. H. Nethital of $2,125,000 to an amount which will represent the cash
erland
as Vloe- President, while Mr. James Gayle is Cashier
value of the assets after all creditors have been settled with.
and
C.
W, Dieruf Assistant Cashier. The board of directors
The preferred stock is to be taken up by the New York
bankers interested, present stockholders of the Maryland is composed of June W. Gayle, ban&:er, Owenton, Ky,; A. V.
ManTrust, however, being given the privilege c f subscribing to Thomson; Percival Mocre, Vice President and General
ager
of the Louisville & Eastern RB. Co, John J. McHenry,
sufficient of this stock to give them control.
attorney; A. T, Hert; W. H. Netherland, President of the
The German Bank of Baltimore has awarded the con- South Louisville Savings & Deposit Bank, and President
;
—
tract for the
new
structure which
it
will erect at the north-
west corner of Baltimore and HoUiday streets. The building will be but one-story above the basement, the latter
being rented as offices and the banking fl9or being occupied
jointly by the German Bank and the German Fire Insurance
Company,
—Messrs, Thomas Hughes and Clifton D. Benson, the
special counsel appointed about a year ago to inquire into the
liability of the directors of the defunct City Trust
Bank-
&
ing
suit
Company
of Baltimore, have been authorized to bring
against such directors for losses sustained by the
Tyler.
—Under
the
title of
Bank a new
Ky. The
Temporary offices
the Lincoln Savings
financial institution is organizing in Louisville,
capital Is $250,000, in shares of $100 each.
Street have been taken by the proposed
institution.
It is stated that a resolution has been adopted
authorizing the directors to mutualize the bank the plan
insuring to every depositor, besides interest on his savings, a
at 403
West Market
—
participation in the profits.
—Hon.
Melville E, Ingalls
was the guest
of honor at a
banquet held at the Queen City Club in Cincinnati on
Saturday evening last, the 25th ult. The gathering was
a most distinguished one. While railroad men predomiin Circuit Court No. 2 of Baltimore. The suits will be
nated at the affair, men who have attained distinction in
brought in the name of the receivers, Gaorge D. Penniman
life— banking, political and professional fields
and Campbell Carrington, and will not, it is stated, interfere other walks of
function, The demonstration accorded
with the enforcement of the stockholders' statutory liability. —were present at the
Ingalls, who recently relinquished the presidency of the
Mr.
The institution suspended in June 19D3. The first dividend,
road with which his name has become synonomous— the Big
20 per cent, was paid last fall.
Four— was characterized by expressions of good will, and
—Col. H. P. Bope has been elected President of the Park was, to quote toastmaster Edward Colston, "unprecedented
BiLk of Pittsburgh, Pa., to suoceed J. E. Ash. The back in Cincinnati." Mr. Colston called attention to the unanimbpgan business last August. Dr. George W. McNeil is Vice- ity of the impulse which brought the large number of guests
President and J. S. Swartz, Cashier.
to the banquet hall, and stated that this impulse came from
—The Diamond National Bank of Pittsburgh will to-day a serious recognition of the fact that the time h ad arrived
open its new quarters at Fifth and Liberty A. venues. On when Cincinnati and the people at large should honor Mel*
Wednesday next a formal reception will be tendered the ville E. Ingalls.
bank's friends and patrons in its new premises. The buildIn responding to the toast, Mr. Ingalls reviewed his career
ing, which has been in course of erection since May last, is from 1870— the time when he took up his residence in Cinalso to be the permanent home of the Diamond Savings cinnati and became President of the original of the railroad
Bank. The main entrance to the Diamond National is on system which he has just left. In these thirty-five years he
Fifth Avenue and to the Diamond Savings Bank on Liberty has seen, mainly through his own Instrumentality, the road
creditors because of the alleged negligence of the directors.
The order authorizing the action was signed by Judge Dennis
THE CHRONICLE.
1212
expand from insignificant proportions to one of the largest
and most proe-perous systems in the country. Tributes to the
energy exercised by Mr. Ingalls in the adminietration of the
railrcads over which he has presided were paid by President
Joseph Ramsey Jr. of the Wabash RR. and President George
W. Stevens of the Chesapeake & Obio. Vice-Prfesident
W. C. Brown of the New York Central was also
one of the speakers at tne affair, besides Jam^s
McCrea of the Pennsyivatiia RR. aad Col. W. B. Meliah.
Among some of the bankers present may be mentioned
George Bohrer, President of the German National Bank of
Cincinnati Charles A. Hlnsch, President of the Fifth NaW. S Rowe, of the First
tional Bank of Cincinnati
National Bank of Cincinnati J. G. Scbmldlapp, President
of the Union Savings Bank & Trust Company of Cincinnati
C. H. Kellogg, President of the Third National Bank of
Cincinnati H. C. Yergason and Howard S. Rogers, Vice;
;
;
;
Presidents of the Merchants' National Bank of Cincinnati, of
which Mr. Ingalls is President W. W. Brown, Cashier of
M. M. White, President of the
the Merchants' National
Fourth National Bank of Cincinnati ; A. B, Voorheis, Vice-
[Vol. lxxx.
prosperous condition; the tide of immigration to this State
has set in at a good rate, and is sure to continue."
—
The California Bankers' Association will gather In annual convention at Oakland on Mny 18, 19 and 20. A varied
and attractive program is promised for the occasion. A. H.
R. Schmidt, Cashier of the German Savings & Loan Society
of Sin Francisco, is President of the Ass Delation. The Sacretary is R. M, Welch, Assistant Cashier of the San Francisco
Savings Union of San Francisco.
—
The California Bank Commissioners have granted a
charter to the Metropolitan Bank
Trust Company of Los
Angeles. The company will conduct a commercial and savings bank. It has an authorized capital of $250,00[), of which
50 per cent is paid in. Frank P. Fiint has been chosen Presi-
&
dent,
W.
P. Jeffries Vice President
and Frank M, Keleey
Secretary and Cashier.
— On
June
1
the People's
Bink
of Halifax, at Halifax,
by the Bank of Montreal, preliminary arrangements having been completed to that endi
By the terms of the agreement the shareholders of the
People's Bank, who have yet to ratify the proposition, will
President of the German National Bank, and L. B, Kleybolte,
receive 4,000 shares of Bank of Montreal stock at about 253
President of the Western German Bank. Each guest at the
and $138,000 in ciash. Cash payment, reckoning Bank of
banquet was the recipient of an amber-colored statuette of
Montreal shares at 255, will be made to those preferring it in
Mr. Ingalls.
lieu of the stock.
Before the merger, which is to be effective
—A run which began on the Ucion Savings Bank & Trust Jane 1, the People's Bank will pay a dividend of 2 per cent.
Company of Cincinnati on Friday, the 24th ult., through the The People's Bank has a paid-up capital of $1,000,000 and a
circulation of false rumors relative to the institution, bad
reserve fund of $440,000.
practically ended en Monday of this week. No advantage
—The sixty-ninth annual meeting of the Bank of British
was taken of the sixty day notice allowed by law, nor, it is
North America was held at the head office in London on
stated, did the company avail of the offers of assistance
March 7. The remarks of Chairman Mr. E. A. Hoare at the
made by other financial institutions. The origin of the
meeting are given at length on pages 1214 and 1215, and
rumors is being sought, and it is intimated that the courts
throw much light on commercial and financial conditions in
will be called upon to take up the matter.
Canada. The net profits of the bank for tho year 1904 were
—The directors of the Central National Bank of Cleveland, £96,000. The reserve was increased £ 20. JO, raising that fund
at a meeting on the 23rd ult., decided to increase the capital
to £420,000, or $2,044,000. Deposits and current accounts on
from $800,000 to $1,000,000. The proposed issue will tie December 31 1901 stood at $17,887,704, an increase of about
taken by new Interests at a figure which will bring the sur- $l,5O0,0GO compared with December 1903. A large portion
plus up to between $500,000 and $600,000. The bank now
of this increase, Mr. Hoare points out, is in the savings bank
has surplus and profits of about $415,000.
department which is daily growing in favor. The complete
—Judge Robert W. Tayler, in the United States District details of the balance sheet will be found on the pages reCourt at Cleveland, on Monday last, imposed a sentence of ferred to above.
ten years' imprisonment upon Mrs. Cassie L, Chadwick.
Mrs. Chadwick bad previously been indicted by the United
States Grand Jury, at a special meeting, on seven separate
charges, each relating to her connection with the failure of
[From onr own eorrespoadent.1
National
Bank
Oberlin,
Citizens'
of
Ohio.
Both
the
the
London, Saturday, March 18, 1905,
President of the bank, C. T. Beckwith (who has eince died),
Markets have not been so good this week as during the
and its Cashier, were jointly indicted with Mrs Chadwick. preceding two or three weeks, and quotations have given
The case will be taken to the United States Circuit Court of way somewhat. Yet there is a very confident feeling, and
Appeals. It is understood that the sentence will not be under the surface great firmness. The fortnightly settleexecuted until the case is presented to the higher court and ment which ended on, Wednesday evening showed a very large
opportunity afforded for suspension of sentence.
increase in the "bull" engagements. Especially, there is an
The twenty-nine principal savings banks of Chicago hold exceedingly large speculation in consols, and it is to be feared
$131,696 622 savings deposits aside from other deposits. The that financially weak people have bought very much more,
rank of the different banks holding over $1,000,000 of such especially of console, than they were justified in doing. Still,
deposits on March 15 Is as follows:
the best judges are of opinion that no harm has been done
Savings Depoaiti.
and that the rise will be continued. They base their opinion
1—IlUnois Tinst and SavlDgs Bank
$80,428,718
on the belief that money early in April will become plentiful
2 -Hibernian Banking ABtoclatlon
13,713,125
3 Northern TrafitOompany
9,443,337 and cheap, and will continue ao till September at all events.
4— First TroBt and Savings Bank
7,553,450 Moreover, they point out that everybody is expecting early
5-Btate Bank of Ghloa*;o
6,773,094 peace, a general revival of confidence all over Europe, and a
Nova
Scotia, will be absorbed
;
;
—
6— Merchants Loan and Trust Co
•7— Home Savings Bank
8-Pralrle State Bank.
9— Union Trust Company
10— Milwaukee Avenue State Bank
11— American Trust and Savings Bank
12— Pullman Loan and Savings BaiLk
18-Royal Trust Company
,
14— Central Trust Company
16— Drovers Trust & Savings Bank
le— Stockyards Savings Bank
-The opeijing
of the Idaho Trust
&
4,867,178
8,082,653
8,637,101
8,608,241
2,478.319
2,463,178
2,061,504
1,669,287
1,430,620
1,428,719
1,338,126
Savings Bank, Ltd,,
widening of busicess.
Therefore, the large capitalists are prepared to buy consols
and other first-class securities on a very great scale if there
should be any set-back in prices. They will be the more
likely to do this because with the fall in the Bank rate the
ratf s allowed by banks generally upon deposits have become
so low that it is more profitable to buy consols now than to
leave money on deposit. Although, then, the speculation in
cansols is large and somewhat weak, the confident feeling
continues and the antiolputlon is general that there will be a
The institution further marked rise.
1.
was lucorporated in January with an authorized capital of
The same thing applies to Irish land stock, Transvaal threes,
$200,ro0, of which fifty per cent has been paid In. The re- local loans and the like.
Daring the week British railway
mainder, we are informed, will be called for during the sum- stocks have somewhat given way, partly due to the extent
mer as ne»;ded. The par value of the shares is $10'^ The of the speculation and partly to the disappointment that
of Boise, Idaho,
is
slated for to-day, April
are B. F. Olden, President W. M. Briggs, VicePresident; L. D. Allred, Cashier, and E. C. Cook, Secretary.
Oar informant adds that the " city and State are in a very
officers
;
the railway companies are not pushing forward their reforms
was expected. The number of laborers in South
as rapidly as
Africa
is
steadily Increasing
and the output
is
augmenting
Apr.
1,
THE CHRONICLE.
1905.]
very rapidly.
And
The
yet there has been bnt a slight recovery
In mining shares.
Upon the Continent there
a much more anxions feeling
than in London. The holdings of Rueeian securities of all
kinds are immense in France, Germany, Holland and Belgium. And there is naturally, therefore, great uneasiness
lest there should be revolutionary disturbances in Russia.
Everybody hopes that the disasters in Manchuria will com
pel the Russian Government to make peace, a course which
seems to be rendered more likely by the postponement of the
Russian loan proposed to be raised in Paris. Still, people are
anxious upon the Continent. They feel that the magnitude
of the disaster in Manchuria is not yet fanown in Rassia and
they are greatly apprehensive as to what the result may be
when its full extent is disclosed. Still, money is so abundant
and cheap that there is a fair amount of speculation in all
the Continental capitals,
What is most in terestirg just now is that there has been
during the week a good deal of dealing in the new Japanese
The loan is intended by the Japan6- per- cent internal loan,
ese Government to be purely internal. The Japanese Government, if our informatioa is correct, does not wish the
internal loans to be placed in Europe lest they should interfere with its success in nego:iating fresh external loans. Bnt
one or two institutions which expect to get large allotments
of the new internal loan are selling what they hope to get,
both in Paris and Berlin, and are meeting with great sucA little time ago this would have been quite impossi.
cess.
The sympathies of the Continent were with Russia and
ble.
against Japan. And the belief was almost universal in
Now, however,
that in the long run Russia must win.
opinion has so far changed that both French and German
investors are anxious to get Japanese stock. It is quite possible, therefore, that, contrary to all anticipation, Japan may
find herself in a position in which she will be able to borrow
both in Paris and in Berlin. Yesterday the London market
gave gave way in sympathy with New York and the Continental Bourses.
Money has been in Vf ry strong demand during the week,
owing in the last resort of course to the collection of the
revenue.which is transferring very large sums from the out"
side market to the Bank of Eagland, though the immediate
cause of the demand was the fortnightly settlement on the
Stock Exchange. The borrowings on Wednesday, the last
is
1213
money have been
rates for
probable that the Indebtedness of the open
market to the Bank will be increased. On the 5th of April,
however, the payments of the interest on the nationa debt
and the other moneys always set free at the beginning of
April will enable those in the outside market to repay what
they owe to the Bank, and therefore the opinion is universal
that money will become cheap and plentiful in April.
The Bank of England is receiving all the gold arriving in
London, and it is probable that it will continue to receive It
for the remainder of the month, If not longer. Money is
much more in demand here than upon the Continent and
hence it is more profitable to send gold to London than elsewhere. It is possible of course that gold may have to be
shipped to New York. Indeed, many good judges are of the
opinion that it will have to be shipped. Still it seems certain that the Bank of England will be exceedingly strong
and that consequently money will be very cheap next
it is
month.
rntsrtit a«a«e«ill
0»«n Market Rate$.
London
Bank
H
Month*.
4
"
8 8-l6®:^M
.S411t
Jtfoi.
i^Mot. Bankt 0*U Dayt
~8«~
8
29t®3
8«
1^
®2H
3-16
'i.
3
8-16®2H
2««»2M
2
2]4®2H
17
Join; Dia'tB't.
StOCh St 7-14
Z'«<t«
6 ilfonthi. 3
2J4@v?6
•
..
Monthi
8M®29^
2 7-)6®2}i
/or(I«vof<t(&ti
Billt.
9 6-16@7-lf
17
24
Mar. 8
10
Feb.
24«®294
8k
8M
IH
IH
8
1
IM
Ik
9
1
rate of discount and open market rates at the
Continental cities have been as follows:
The Bank
•ihief
March
jB«t«l Of
lnt»r$$t At
ggrlln
March
18.
8
3
.....
1«
8
3
8
8
3
2
3«
S^
SH
2H
s
8
2H
aamburg
3
Frankfort
8
iH
«jnsterdam
8
3
29i
8
ZH
3
3
3«
SrUBIAll
?l6iina
3t.PeteribarK..
Madrid
0OD«nha(ren.
March
11.
B«ni< 0|>«n Bank Ovn Bank
Bat$. MarkBi Rat*. Markti aatt.
4M
8
4
4
..
Feb. S6.
4.
Oftn Bank Ortn
Mark I Bate. Mark$t
17-16
IH
m
8«
SH
3
8
8
8
3«
nom
iH
8
8
3H
6k
<k
4
4
4
4
3
19-10
8
VA
nom.
nom.
19i
1«
2k
9k
8
nom.
8
4
Messrs. Pixley dc Abell write as follows under date of
March
16, 1905:
Gold— There has been Bome small outside Inquiry
for bar ROld this
week, and In oonsequenoe the Bitnk has only reoelved a portion of the
arrivals. £312,OOU has been bought by tbe Bank, of which £307,000
Is bars; and £510,000 bas been withdrawn. £333,000 of whtoh Is for
South America. Arrivals: Cape Town, £33.*',000; Australia, £2.5,000;
total, £360,000. Shipments: Bombay, £67,500; Colombo, £2,500;
total, £70.000.
Silver— The market has been weak. The fall wai begun by some
sales on Eastern account, and althou(?h we rallied temporarily on
Indian orders, we have since dropped to 26%d the lowest point slnoe
November last, and we close dull with a very small loqalry. The
Indian price is B'*. 689,3. Arrivals: New York, £121.000; Australia,
£4,000; total, £128.000. Shipments: Bombay, £^5,700; Calcutta,
£94,600; total. £150,300.
Mexican Drtliars— ThPse coin remain nnmlTial.
,
EntEllsb Financial
LONDOH.
Silver, per
^at.
ounce
d.
Consols.,new, 21* p. ote.
For account
26618
9iiie
91i«
markets— Per Cable.
Hon.
Tuei.
Wed.
Ttiurs.
Fri,
263ia
••578
.!6k
911,6
36iie
9Ui6
261318
915ie
915i
99-62 2.
91
90i6ie
9ii,a
Fr'ch rente8(ln ParlB)f r. 99-82ifl 99-76
90%
Spanish 4s
Anaconda Mining
& Santa Fe.
Top,
A.tch.
Preferred
Baltimore & Ohio
Preferred
91k
6k
92k
6
9238
91
99-70
91k
91k
91k
6
6
9088
90%
105k
111%
I05k
lllk
90k
99
99
152%
152%
6988
6938
24
106
105
II214
112k
111k
99^
99k
153k
85ifl
S5k
S4i«
35
92 k
92k
47%
82%
80
24%
I86k
471a
83k
69k
165%
145k
25%
32
68
42 k
69 k
166
99
152
59k
24
184k
34k
34k
91k
4608
82k
69
145k
164k
143k
32k
31'^8
25 k
25 k
68
68
Preferred
Nat. BB. of Mex„lst pf
N, Y. Cent. & Hudson..
N. Y. Ontario & West..
Norfolk & Western
Preferred
166k
88k
96
64k
88%
96k
63k
88k
06k
Northern Securities
Pennsylvania
166k
167k
164k
*
Phlla.
Beading*
let preferred*
2d preferred*
Southern Pacific
...
Southern Ballw., com..
Union Paoiflo
Preferred
8.
Steel Corp., com..
Preferred
Wabash
Preferred
Debenture "
B"
42k
166
73»8
72B8
49
47
49 k
47
48k
46k
70k
S6k
46k
71k
73k
103
135
102
Preferred
tJ.
61
42k
167
36
103
47 k
46k
69
35k
6k
24
184
34k
34k
9lk
46''8
82k
69k
8288
69 •«
164 k
164k
145%
25k
25k
31k
67k
145k
25k
32k
68
32
67
42 k
165
6488
87'e
42k
I66k
166k
ie4k
167
23 k
48
77 k
97k
24
97'8
2314
96k
166
78k
48k
47k
46k
69k
36k
7278
4838
47k
46 k
69 k
35 k
99
133
35 k
98^8
66k
88
96k
72k
44k
47k
46k
69k
36k
42k
6136
88
96k
3^^8
47
34k
34k
91k
47 k
82
69
164
144
87
48k
59k
24
180
34k
91k
46S8
3678
98 58
23 k
99
ld2<^
35
102
103
105k
IH«8
tsok
I0li«
13238
102
135k
102k
91k
99'62k 99 40
6
90
106 >«
Canadian Paoiflo
153k
Chesapeake <& Ohio .... 59ie
Chic. Great 'estern... 26
Chic.Mll. &at. Paul... 186
day of the settlement, of the outside market at the Bank of Chic. Bock I. & Pacific.
England are estimated to have amounted to over four mil- Den.& Bio Gr.,oom....
Preferred/
lions sterling. As a matter of fact, during the week ended
Erie, common
Wednesday night the borrowings from the Bank exceeded
l8t preferred
2d preferred
six millions sterling. From now until the end of the month
the payments out of the Treasury will probably exceed the Illinois Central
Louisville & Nashville.
receipts. On the other hand, the preparations for the end of Mexican Central
the month and the quarter will require very large sums, and Mo. Kan. & Tex., com..
therefore
as follows:
99
132'8
102k
36%
l02k
9i)k
98 k
24
36%
28k
48k
47
48k
85k
8sifl
80V,
Price per sUttre.
The India Council
offered for tender on Wednesday 100
and the applications exceeded 430 lacs at
prices ranging from Is. 4d. to Is. 4 l-16d. per rupee. Applicants for bills at Is. 4 l-32d. and for telegraphic transfers at
Is. 4 3 32d. per rupee were allotted about 28 per cent of the
amounts applied for. Later in the day the Council sold a
lacs of its drafts
small amount of the bills at Is. 4 l-16d. per rupee.
The following return shows the position of the Bank of
England, the Bank rate of discount, the price of consols, &o.,
compared with the last three years:
IOCS.
Mch.
X
16.
circulation
Public deooslti
Other deposits
27,087.860
16,266.646
44,515,143
Government eeonrltleB
15,689,186
Other securities
88,484,190
Reserve of notes and coin
81,129,819
Coin 4 bullion, both departm'ts 3^,768.569
Prop, reserve to llabillileg, p. c.
51>^
Bank rate
percent.
2^
Consols.
2^ percent
Wlver
GlearluK-Honse returns
91^
2616-i6d.
988.032,000
1904.
Meh.
X
16.
27,861.390
13,780.881
J8,C41,241
19,224.834
24,«»25«a
26.561,863
36.673,273
60 9-16
4
e6M
2«M<'.
195,180,000
1908
Mch
18.
«
28.199,305
14.681.743
40,979.868
14.66.-<,318
»28;4,6:0
27,181.736
37,l:i6,041
4894
4
9iu
28 7 18d.
807,684,000
leoa.
Mch.
19.
Jl
28 558.B48
18.947,H03
3tf,^88
023
lB,274,a8a
33.Pe3,144
2H,774,(93
37,553,823
46^
3
93 11-16
26 18-lfld.
206.862.00^
Aaction Sales— .By Messrs. Adrian H. Muller
Stock*.
20 Paoiflo Back
6 N. Y.
Co.,
Bowery
266k 100 Pope
Fire Ins.
$25 each.
$50
& Son
:
Slocks.
Mfg. Co. 1st pref.. 7078
10 Title Guar. <k Trust CJ..661
400 F. (le Peyster Hall Co.
com
$201ot
10 N. Y. Mutual Oasl. Co.297-300
13 Cora ExchaBKO Bauk...391k
50 Bealty Associites, 5C%
56 Tradenraen's Nat. Bk.
lot.
(2214% paid in liquidation), $»0 each
40 Fifth Nat. Bank
340
paid
83 J. S, Bonnell A Co.. N.
183k
Y
.93 65 per share 100 Internai'l Bank'g Carp.. 165
Bonds.
50 The Transfer Tube t;o.,
N. Y., 910 each. $3 10 per sh. $6,000 Minneap. St, By. Co.
I8t78, 1910
5 P. H. Potter Lumber Co.,
108
$llot f5,00^ Artesian Water Co.
N. Y
(Mf'mphis, Tenn.) let 58,
6 The A. D. Ashmead Co..
1909
N. Y., $20 each
10258
$21 lot
$17,000 Shar'n & New Castle
10 Importers' & Traders'
Nat.
Bank
890k
22 Bond & Mort. Guar. Co. 418
60 Westohep. & Bronx Title
& Mort, Guar. Co
172k
Bys. Co. 1st 5s,
8.
f.,
1931,
guar J&J
91%
$5,000 8I0SR Iron &. Steel Oo.
1st 6b, 1920, P&A.
11278
,
THE CHRONICLE
1214
BreadBtaffg Figares Brought from Fage 1251.— The
statements below are prepared by us f rom fiRurea collected
The receipts at
by the New York Produce Exchange.
Western lake and river ports for the week ending March 26
and since Aug. 1, for each of the last three years have been:
BecHvUcU—
Ohloago
Milwaukee
Dnlnth
MlnneapoUi
\
418 2J0
269,660
10.621
160.0)0
400
a.iuo
D,400
132,740
134,000
113.680
1.025
20.451
860.130}
74,1-7.
61.640
245,147
611.970
874.000
867.800
430.900
..
and ^xtrawdaL
BANK OF BRITISH NORTH AMERICA.
report of the directors presented to the
proprietors at their sixty-ninth
yeakly general meeting.
The annual general raeetins of the proprietors of the Baok of British
North America was held on Tuesday, March 7, at the office of the corporation, No. 5 Gracechurch Street, London, Mr. E. A. Hoare pre-
86.65'
300
80.00
Vol. lxjx.
Rye.
10.000
13.867
1.627.S90
Detroit
. .
Barley.
Oats.
^atifexTig
Bbls.ieejbs Bush.mi>>s BusTi.fOlbi Bush.82 lbs Bush.iS lbs Bu.66 lbs
188.044
26.0U0
820.000
482.162
3.486.6UOI
8.085. I0(
14.000
20a.30i
96.C00
192.860
14,40
124.080
Ti.eaa
851,4S:
9.260
666
Toledo
OleTeland
St. Loali
Peoria
Com.
nheat.
Flour.
1
loor.o
siding.
The Secretary (Mr. A. G. Wallis) having read the notice and the
Auditors' report,
The Chaiiman said: Before making any reference to the balance
2,748.697
77,a76
5,466.20
4.089.806
1.079,423
Tot.wk. l»Of
274.509
sheet which is in your hands today, I must say a few wordR respecting one paragraph in the report issued with the balance sheet of June
2,865,0S6|
2.400,085
3,079,241
1,099,936
189,914
Same wk. '04
439.243
2,284.012i
3,429,71'/
248.965 30th last. We then faid: "The sum of £4,180 has been set aside out
338.219
2,6i4.379
614.736
Same wk. '08
of the profits of the half-year to meet the depreciation
the bank's
Binee .dug. 1
investment in Dominion of Canada bonds, which will hereafter
1904-6
U,f 02 086,171.010 709183,585,880118,779.644 54.468 006 5,753.018 ttand in the books at 97." Having been obllgel in December, 1903,
1903-4
14.244.545 187.426,669 122,797,890'l20,78"-,a"0 663«2,872 6.479.866 to set aside out of profits the sum of £9,000 to provide for deprecia14.057,69' 203.405.921103.937.899133.430.8311 47.188,662' 8.32S 123
tion in ojr consols, we felt that it was rather hard tha thi.s further
1908-3
appropriation in respect of our Canada bonds should be necessary;
Toi al receipts of flour and grain at the seaboard ports for but you no doubt understood perfectly well that it was rendered
necessary by market fluctuations nlone, and that, as the quotation on
the week ended March 25. 1905, follow:
the Stook Exchange had fallen, it was necehsary for us to write down
Flour,
^Vheat,
Corn,
Oats,
Barley, Rye,
our investment to that level, although we are well awa-e that on its
bbis.
bush.
Receipts at—
bush.
bush.
bush.
bush.
merits a Dominion of Canada bond is worth more to-day than it ever
138.f.l4
118,960
783 255
694, 6uu
114,«J0
New York, ...
has been before. It is satisfactory to be able to add that a recovery
467.20*
38.078
Boston
93,835
e 2.301
S4,0f0
4,851
Portland. Me
in values has already taken place, and that our investment is today
'7.206
15,«64
B,060
aaa.789
Philadelphia • •-«« >* «
81,283
800 again worth par. I will now pass on, and makei some observations on
80,i!26
16.613
861.283
18.147
Baltimore
10,202
the balance sheet to December 31, 1904. Deposits anl current
8.360
26.036
28,000
S:7.732
Richmond
894
accounts, compared with December, 1903, show an increase of
36.970
38.791
Newport News.
£311,000. 77 per cent of this increase is in the savings bank depart698.000
12.309
New Orleana...
'hbfiOO
ment, which Is daily growing in favor in Canada. Bills payable and
117,600
10.40)
Oalvestoa
26.143
Norfolk
other liabilities show a decrease of £620,000. This decrease consists
"82.986
8.roo
1.085
46,237
Montreal
10,189
almost entirely in the bills payable, which are £560,00 less than at
1,(164
95.8S0
3.003
Mobile
this time last year. This reduction does not slgnifi any diminution of
2,643
4 2.8t5
St. John, R, B.
the bank's business generally, but it is the reflection of a long period
of inactivity in New York, to which I shall have to refer again when I
260.259
315.929
945.197 1.037,976
132.399
11.898
Total week ..
403.957
651.569 1.614.89J 1,182,842
86.316 136.>!48 speak of our profits. Notes in circulation »how au increase of £32,Week 1904
000 compared with this time last year. But here I must explain that
Total receipts at ports from Jan. 1 to March 25 compare as the figures at December 31 do not represent iu this or in any year the
follows for four years:
highest point of our circulation. It is in the months of October and
1805.
180*.
1903.
1902.
RecelpU ot—
November, when the harvest la being moved, that the circulation
4,850,883
5,178.712
bblB. 8,113.488
4,989.403 reaches its maximum, and by December 31st the ebb-tide has begun
Flour
and made some progress.
17.089.7i7
12,620,563
19.186,998
bush. 8.843.748
Wheat
22.:^90.46a
5.7^7.07"^
bnsh. 88,003,789
89,663,453
C"rn
ADDITION TO BESEEVE FUND.
9,295,006
12,277,615
9,» 0^,448
Oats
bash. 8. 09.054
1,1»W,842
1,499,604
bash. 2.000.111
», 364.474
Barley.
addition
of £20,000 to our reseive fund the total is raised to
By an
296,765
123.117
677,982
S83,0<»8
bush.
Rye
£420,000. I would recnlnd you that the whole of this sum h >8 beeu
Bave<i out of profits, while the reserves of many of our friendly rivals
45,702,144
T3.146,49i
84,4«6.i-05
bush. 62,079,814
Total grain
been largely augmented by the premiums obtained from the issu*
have
several
seaboard
ports
weei<
for the
The exports from the
of new capital. On the other side of the account, cash and specie are
ending March 96, 1905, are shown in the annexed etatecnent:
£67,000 less than this time last year; but cash at call and short notice
Oat«,
Corn,
Flour,
Rye,
Wheat,
Barley,
Peas, is £125,000 larger, 80 that the total under these two headings shows
bbls.
bush.
bush,
bush.
bush. an Increase of £57,000. The cash and specie is 37 per cent of our imbush.
Exports from— hush.
637.399
62.488
6,265
2,7 8»
68.814
36,100
New York
mediate liabilities, while the two Items together amount to 35 per cent
62.301
18,40u of our total liabilities to the public
4.361
Portland, Me.
84,000
Investments, so far as regards
'.'•'.'.'.*.
l.88i
91.872
16.018
Boston
our British Government stocks, show no change, while our Domixilon
19,982
232.388
Philadelphia
of Canada bonds, as already explained, now stand at 97 instead of
1,050
60
88,«87
Baltimore
100, Other secuiitles, at £133,000, show a decrease of £14,000. In
26.148
Norfolk
36,'276
38.791
Canada, as In the United Kingdom, the values of all high class sei urlNewp'rt News
80
7a«.613
1.671
New Orleans
a.82i
ties continued low during the halt-year, but a strict revaluation of
386.670
Galveston
these securities shows that tht-y stand in our books at less than actual
8,C00
Mobile
94.850
"i'.964
valuec. Bills receivable, loans on security and other accounts show
4'j.865
2,843
Bt.John, N.B
a decrease of £323,000 compared with this time last year; but I have
nothlpg special to sav respecting these figures, which are not due to
165013
0.996
Total week.
61.118
79.215 a.181.294
any other cause than the ordinary fluctuations of our business.
83,408
Same time '04 816,786 1,413.145 916.8:^0
9,a7i
.......
26.224
16.800
14,400
Eania* CltT
297.9 JO
64900
189.6)'
1,6
•
6»,60(
m
i
1
'.'.'.'..'.'.*.
The
July
1,
destination of these exports for the
1904, is as below:
week and
NEW BANK
since
PREMISES.
Bank premises show an increase of £21,000 during the year. Our
/Wheat.
tlour.
Corn.
Week Since July Ween Since July actual expenditure has been £31,000, but, as you have seen, we have
Exports for
.Week_ Since July
M'tr .>6,
week ana since Mar. 26, 1, 1904
1. itOi.
Mar. 26
1, 1904
taken from the proflts of the half-year 1 he sum of £10,000 in reducbush.
hbls.
bu<7i.
bush.
July 1 tobbls.
bUih.
tion of this account. At December 31st, 1901, our premises account
79.819
8.98 ,S70
United Kingdom. 80.O3.1 8.370 818
660.734 84.857 7'stood £120,000; so that in these three years we have spent £7o,000.
962.308
82.^84.9^4
843.589
1,497,5«2
27,946
Continent
Had it beeu possible, we should gladly havejavoided this large increase
19,09>4
615.711
8 3:0
i7.;-0J
297,810
8. & V. America..
in the account, but I have no hesitation in saying that we had no
9 'ti.t'ii
570.890
West Indies
86,767
106,01.3
138 Hn. choice if we were to retain our position in Canada. The bulk of the
Br. N.Am. Col 's
74,707
f-93
"'726
ei.39i
Other countries.
236,962
62,414
1,800
money has been spent in Winnipeg, and although I am myself responsible tor urging upon my colleagues the necessity of a proper banking
Tofal
79.216 10.002.962 2,181,294 68.516 383 house in that city, I atu going to add that it has been well spent. The
156.048 4.811 ,067
S0.057.-k3j
1.413,146
Totnl ll'0!-04
54.436.153
,836
216.765
218,826 li,877,
site, which we purchased in Ootober, 1902, is one of the best In the
The visible supply of grain, comprising the stocks in business part of the city, and it is worth a great deal more to daythan
granary at ihe priLcipal points of accamalation at lake aod it was then. The building which we have erected upon It is not only
well adapted to all our banking requirements, but is also an ornament
seaboard pcits, M^rch 25 1905, was as follows:
to the city, which is rapidly incre^tslng in importance, population and
Oats,
Rys,
Barley,
Corn,
Wheat,
wealth, and if we had been influtnoed ohi- fly by motives of economy
In store at—
buah.
b ah.
bush.
bush.
bush.
New York
332,000
148,000
20 ,000 In this matter, we should have made a great mistake. At Toronto we
1,262,000
616,003
have carried out extensive internal alterations, whereby we not only
28.000
Do
afloat
Bosfon
9i,000
l>-7.000
750,000
secure tlrst-class banking accommodation, but also earn a considerable
Hl.O'O
P'lladelDhla
519,0!
7,000
rental. Our Ottawa building was right enough, but the situation was
Baltimore
93-1,000
168.100
119,000
513,000
wrong, aud It was necessary to make a change or to be forgotten, so
New UrleiiUB
382.' 00
we made the change, and this was the next heaviest item. Then we
Qrt..veBtoa,
ISV-.OOO
87,000
.,„.,
had to build a manager's rentdence at Winnipeg, where the demand
Monfroal
«.'<,000
6>,o00
140.0
33,0j0
lor houses is so grtat that it is almost Impossible for a married officer
Toronto
11.000
17,000
Buffalo
630 001
1,105,' 00
876.000
1,557,000
to obtain accommodation, even at an exorbitant rental. At Rosthern
4B.000
i,or..000
168,<'(0
_ Do afloat
until quite lately we conducted our business in a little wooden sLanty,
TolPdo
146,000
aVs.bdJ
12.000
12,000
807,000
of wliich I liad a photograph taken when I wai there in 1903. If you
Do
afloat
140.000
will come aud look at a print of tliat photograph alter the meeting
Detroit
6.0JO
17,066
4.000
384,000
65,066
you will thoroughly appreciate that it was not a leaning to extravaDo
afloat
gance which led us to purchase a modest brick building, where we
ChlcaKO
1.80'.),000
iss.boo
3,S56,006
iVoVo
1,898.000
Do
V!2«.000
afloat
mi-ht conduct our busineHs in safety. The bank at Victoria has been
Mllwaukfe
iisi.oco
603,000
329,000
841,006
"y.odo
practically rebuilt, and, although I have not seen it, I believe it Is now
l>o
afloat
a thoroughly modernized and suitable building. There has beea other
Fort William
4.4l«.000
expenditure at other branches, but nothing of Importance. I have
Port Arthur
l.flti-.OCO
Duhith
371,000 spoken at some length on this point so that you may thoroughly un4,979,00u
76,000
4,737.000
178,000
Do
derstand our reasons for the present transfer ot £10,00(', and for
afloat
Minneapolis
11.424,000
67,000
4,615.000
1,18 ,060
76,060
further traiiftfers which will have to be made in the future— not
Bt. I<oul8
77,0t0
2,426,000
76J.C00
18,000
2,000
because there is not ample value, and more than ample value, in
Do
afloat
property, but because we do not wish to 3ee this account remaining at
Kansas CItjr
1,1'{1.0]0
177,606
139.010
high a point.
Peoria
14 '.000
1.31f.O0O
81,000
8,000 so
.
,
"
Indianapolis
Go Mississippi Riv
On Lakes
On canal and river
Total
Total
T«t«l
Total
ToUl
206.000
65.000
93,000
PROFITS FOR YEAR
Mar. 815, 10')6 8'/^.-lH, 1)00
Mur. 18. llKir..:i8.«4:i,000
Mnr. 2rt, 1''04 32.51 1.000
Mar. 28. 1908.48.291.000
Mar. 29, H<02 49 6d6,000
9,7>'7.<)00
1«.>0».000
10.911,000
10.060.oOJ
H.rt-9.(00
lo.9ii«.0i)0
8,^99,000
1.415.0 "i
1,45b OOO
«. 284.000
10.;<fi6,000
98.1.001)
.'•.6O0.OOO
7.«O7.O00
3,149,000
1.0'7,000
2,098,000
1,6:6,000
8,017.000
1.8
fl,
000
may
£96,0C0.
point out that our profits this year, after making
ample provision for all accounts which we considered to be in the least
doubtful, amount to £96. Ouu, exclusive of those sums which > on so
generouslv allow iis to appropriate for the benefit of the staff, compared with £88,000 In 1903 We regard this as particularly satisfactory, because, as I have already stated, the year lii04 was oneof
Finally, I
..
Apr.
1,
THE CHRONICLE.
1905.
New York. Aa you are aware, we employ a large part of
oar resources at call aud short notice in New York, and during 19''4
the average rate /or call money did not exceed 1 «« per cent, and for
time money 3 per cent. Such were the general conditio qs of the money
market in New York, over whloli we have no control, and the result
was that the contribution of profit from that office was largely re
daoed. That need not trouble you at all, for these conditions will not
be permanent, and a return to greater activity will certainly be seen,
although I am not going to venture to predict the date. In the meantime, we consider that it is eminently satisfactory umler such cironmstances to see a substantial increase of £8,0tj0 In the total profits of
the year compared with those of 1^03.
THE BANK OF BRITISH NORTH AMERICA-
Inactivity in
INDUSTRIAL CONDITIONS.
In general business, the year 1904 was not without its vicissitudes.
The winter of 1903-04 was of exceptional severity, so that trafflcby road
and railway was only carried on urder great difficulties anil expense.
This interfered with the shipment of produce and the distribution of
merchandise, and also had a serious efl'ect upon agriculture in Eastern
Canada. The lumber industry did not enjoy so much prosperity as
during recent years, chiefly owing to a diminished demand frum the
United Kingdom, which was only partly compensated for by the steady
consumption of the United States. The dairying industry, which is of
such growing importance in th9 East, realized oonslderably'less money
for the producers than in 1903, and had it not been for the good harvest la the West we should probably have seen a partial set-back In the
growing prosperity of the Dominion.
THE WHEAT CROP.
Naturally, the progress of the crops in Manitoba and the Northwest
Territories was watched by all in Canada and the United Kingdom
with anxiety, for the success or otherwise of the harvest in that great
country is no longer a quesi ion of merely local interest. In certain
parts of the country the crops were damaged by rust, ana in consequence of this the grade of wheat was not so high as tho hopes of the
farmers had led them to anticipate. The crop was, however, bountiful, being estimated at sixty million bushels; while the Inferiority in
qnality was more than made up by the higher price obtained, and it is
estimated that the wheat alone will realize forty million dollars. The
influx of settlers consequently continues, many still coming into the
oeuntry from across the boundary, and bringing with them not only
capital, but valuable experience. New lands are being constantly
taken up, while farmers already on the ground have been adding to
their holdings. This is, perhaps, a weak spot in the present time, for,
encouraged by the success of past seasons, and seeing the price of
land steadily advancing in value, no doubt many have been temi)ted
to make larger purchases than their capital justifies. That the piice
of land should advance under the influence of a constant stream of
settlers Is only natural; but there is reason to fear that the speculator
has also contributed to this movement, and this is much to be regretted, for speculation of that sort actually retards the progress of
the country. It is also noticeable that the number of commercial failures in Manitoba and the Northwest Territories has increased, although the t ital of such liabilities has not increased in like proportion. It is difficult for us who remain at nome, or perhaps pay an
occasional visit to the West, to realize the amount of self restraint
thatis necessary in these western communities, if business Is to b^ kept
on a safe basis, the potentialities of the country are so immense, the
genuine opportunities for extension are so frequent, and the very
climate is so conducive to a sanguine temperament. But we are convinced that the true development of the country in the future is dependent upon the prudence of those who have the power of granting
or withholding credit, and we fully recognize our own share of this
responsibility.
THE
U. 8.
I2i5
BALANCE Sheet fob the Half-year Ending 318t Decembbb, 1904.
To
Or.
Capital....
$4,866,666 66
u.OOO shares of £50 each, fully paid.
To Reserve Fund
2,044,000 00
To Deposits and Current Accounts
17,887,704 44
To Notes in Circulation
3,017,607 30
To Bills Payable and other Liabilities, including Provision for CoLtingenoies
10,979,817 73
To Rebate Account
80,287 90
To Liabilities on Endorsements
$1,122,256 57
To Profit and Loss Account— Balance
brought forward from 30th June, 1904
178,817 12
146 000 00
Dividend paid October, 1904
_
$30,817 12
Net profit for the half-year ending this
date after deducting all current charges
and providing for bad and doubtful
298,527 83
debts
$3^9,344 95
Deduct:
Transferred to Bank Prem
ises Account
$48,666 66
Transferred to Reserve Fond. 97,333 33
Transferred to Olficers', Widows' and OrphbUb' Fund
2,500 00
Transferred to Office s' Pension
Fund
2.77130
351,27129
Balance available for April dividend.
178,073 66
$39,054,157 69
Or.
By Cash and Specie at Backers and
Hand
By Cash at Call and Short Notice
in
$3,645,60143
7,9c(5,27l00
-$11,580,932 43
By InvestmentsConsols. £225,000 at 86
National
...
War Loan, £50,000
$941,7C0 00
219,000 00
at 90
Exchequer Bonds, £25,000.. 119,4t 1 46
1,280.16146
Dominion
97
of
Canada Bonds, £140,000 at
660,893 33
650,142 00
Other Securities
By
2,591,196 79
Bills
Receivable, Loans on Security and other
Accounts
By Bank Premises, etc., in London and at the Branches.
By Deposit with Dominion Government required by
Act of Parliament for Security of General Bank Note
Circulation
150,655 73
reference to the Northwest would be complete without some
mention of the new departure by the Government of the United States
with reference to the importation of wheat from Canada. Hitherto
wheat has been subject to a duty of 25 per cent. There has been no
alteration in the law, but there is in existence a law by which the
United Stat'-s Treasury may permit a "drawback" of 99 per cent of
the duty paid on raw materials used in manufacturing articles intended for export only. In future wheat is to be included amongst
such raw materials. I do not intend to wander on to the debatable
ground of fiscal questions, but this action by the United States Treasury may have effects not at present contemplated. To the wheat
grower in the West it must surely be beneficial, inasmuch as he will
find a new market open to hiaa, where the price of his produce is, as a
rule, higher than that to which he has been accustomed. Those who
may wish to pui sue this interesting subject further should refer to the
commercial supplement of " The Times " of February tJth and 20th, or
to " The Canadian Gazette " of February 9th. Since the harvest the
weather has been unusually favorable for farming operations, and I
have seen It stated that the land already under plow for next season
is 500,000 acres in excess of that at this time last year, and that a
reasonable estimate of the land under wheat in 1905 is A's million
'
Note.— The latest monthly return received from
Dawson City is that of the 30th November, 1904.
and the figures of that Retorn are introduced
into this Account.
The balance of the transactions for December with that Branch has been
carried to a suspense account pending the receipt
of the December accounts.
"DRAWBACK."
No
23853,';8346
877,589 28
$9,054,157 69
We have examined the above balance sheet with the
books in London and the certified returns from the branches,
and find it to present a true statement of the Bank 's affairs.
Edwin Waterhouse,
G. Sneath,
Auditors,
Of the firm
Waterhouse
of Price,
&
Co., Chartered
Ac-
countants.
LoKDON, 23rd February, 1905.
f»ITII»BNi»S.
Per
0«nt
Ifame of Company.
When
PayabU
Bookt Oloied,
(Dayt IncluHvt.)
•ores.
MINING INDUSTRIES.
Rallroada (Steam).
& 8tk. Yds., Ind., pref. (qu.)
Apr 1
Apr 1 Holders of reo. Mar 20
S
Passing on westwards, the mining industries of British Columbia Cumberland Valley (qnar.).
2
Apr 1
bave shown considerabi« activity during 1904, and a rough f^stunate Delaware Lack. & Western (quar.)
2>9 Apr 20 Apr
to
Apr 19
oompll>-d by the froviucial Government values the mineral output at Portland * Bumfird Falls (quar.)
to
Mar 14
IHi Mar 16 Mar
$19,775,000. This ehows an lncrt«ase of mor-i tuan $2,000,000 over Railroad Securities, prel
Apr 1
2
the production of 190 i and 1903, but just falls short of 1901, when Southwest Pennsylvania
Apr 1 Holders of reo. Mar 7
6
the output reached $20,000,000
Street Kallwaya.
Macon
By.
(Ga
Light,
pref
3
Apr
1 Holders of reo. Mar 37
<b
This increased production has not, however, been accompanied by
)
1\ Apr 16 H olders of reo. Apr 1
any bt*ttfr r- suits for th< shareholders in either the Canadian com- Manchester (N. H Tr. L. & P. (quar
1 Mar 23
to
Apr 1
panies or those established in the United Kingdom, and in all alike, Omaha & Conn. Bluffs St. By., pt. (qu.) $1 25 Apr
Rockford (111.) & Interurban Ry. (qu.)
Apr 1
1
profits, wherd existing at all, have been meagre in tha extrt^me.
Syracuse (N. Y.) Bapid Tr., pref. (qu.) 1 Apr
1 Mar 30
to
Apr
Eflorts are now being made by influentiaal persons in Canada and the Toledo Railways A Light
May 1 Apr its
1
to
May
United Kingdom, reprrsentingsome of the principal companies in th«
Banks.
Rossland Camp, to bring about an amalgamation of interest, and Gallatin National (No. 146)
6 Apr
6 Holders of reo. Mar 39
should these efforts meet with success th-re should be brighter New Amsterdam National (quar.)...
Apr 1 Mar 30
to
6
Mar 31
days ere long In the Yukon, on tha oi her hand, the output of gold Riverside (quar.) (No. «a)
2
Apr 1 Apr 1
to
Apr a
IttlBcellaneona.
showed further diminution, barely reaching $10,000,000 in 1904,
500 Um 31 Maris
to
Mar 31
compared with $1 l,000,OjO in the preceding year. The population of American Bank Note (quar.)
Caramel, com
1^ May 1 Apr 11
to
Apr 30
Dawson Is also consldf-rably less than it was a year ago; but this is by American
Istyref. (quar.)
l** Apr 35 Holders of rec. Apr 15
no means surprising, for In placer mining camps, aa the auriferous Associated Merchants,
do
do
do
(extra)
15 Holders of rec. Apr 15
•e Apr
ground is worked out, the miners move oti to more attractive fields of
do
do
2d pref. (quar.) l^a Apr 16 Holders of reo. Apr 15
labor; and so it has been in this case, the exodus to the gold-fields of
>• Apr
do
do
do
(extra)
16 Holders of reo. Apr 15
Tanana and Fairbanks having bC'-n on a large scale. Apart from Bliss (B. W.), com. (qnar.) (No. 60).... 2>a Apr
1 Mar 29
to
MarSl
fresh discoveries that may be made, either of alluvial or quaitz, the
pref.
(qnar
do
do
(No. 60)...
2
Apr 1 Mar 29
to
Mar 81
future of the camp appears to depend chiefly upon an adequate water Central A 8. A. Telegraph (quar.)
Apr
7
Apr
to
1
Apr
\H
7
supply, and I understand that efforts are being made towards the Chicago Pneumatic Tool (quar.)
Apr 20 Apr 13
1
to
Apr 19
!>• Apr
1 Maris
to
Mar 31
attainment of this object. Whatever may be the output for the Cincinnati aas L. A Coke (quar.)
Hudson River Telephone (qnar.)
to
IH Apr 16 Apr 4
Apr 16
future. It is interesting to look back on the results of the camp, since
Mfrs. i^lghtJb deat, Pittsburgh (qu.).
l*. Apr 10 Holders of reo. Apr 1
it first came prominently Into notice Scven years ago, for during this
Mexican
Telegraph
(quar.)
Apr
a>*
14
Apr
1
to
Apr 14
period the value of gold recovered has certainly not been less than
National Bloe Milling, new pref
Apr
s
Mar ae
to
Apr 6
iJ20,000,00J. These figures must surely en litle It to rank among the New Central Coal
2
May 1 Apr 37
to
May 1
wealthiest placer mining camps in the world. On the Pacific Coast N. Y. A N. J. Telephone (qu.) (No. 86)
Apr 16 Holders of reo. Apr 5
the canning Industry met with poor results, the catch beln.f sraalL Bealty Associates (No. 4)
Apr
16
Apr
to
d
Apr
as
18
Last autumn our General Managar visited England by invitation ot Beece Buttonhole Machine (quar.)
3
Apr 16 Holders of reo. Apr 6
the Court, as there were matters which we desired to discuss with him Rhode l!«l. Perk. Horseshoe, pf. (qnar.) !•« Apr 16j Holders of reo. Apr S
personally. His visit was most valuable; W3 availed ourselves of the Streets West. Stable C. L., com. (qu.)..
to
Apr 35
H Apr 26|Apr 13
2' Mar 3i|Mar aa
to
Mar 30
opportunity of frequent coiisultatUns with him, which we trust may Texas A Paolflccoal,(quar.)
Vulcan
Oetlnnlng,
prel.
(quar.)
2(1
Apr
Apr
9
to
Apr 20
be productive of good iu the lutur-'.
Westinghouse
Machine
(quar
Apr
lOAor
to
1
Apr 10
A vote of thanks to the Directors, General Manager and Stafl" was
unanimously passed.
t Payable in stock or scrip.
Belt RB.
Ctarllers
)
)
,
)
m
)
THE CHKONICLE.
1216
Banks.—Statement
New York
City Clearing House
the
week ending March
wndition for
35, 1905,
ige of daily results.
We omit two ciphers (00) in
of
based on aver-
Mew York
City, Boston and Philadelphia Banks.— Below
a summary of the weekly rettu-ns of the Clearing House
Banks of New York City, Boston and Philadelphia. The New
York figures do not include results for non-member banks.
is
all eases.
We omit two ciphers (00) in
1
BANKS.
Capitals-
Surplus.
Capital.
Loans.
Legals.
Specie.
t
Deposits Re.
Merchants'
Mechanics'.
America
Phoenix
...
City
Chemical ..
Merch. Ex
.
Gallatin
& Drov
Mech.&Tra.
But.
Sreenwicli
Ajner.Eich.
Commerce..
Mercantile
...
People's
...
...
450.0
200.0
2.000.0
3,000.0
..
1,000,0
2,550,0
K. America
Hanover
Irving
Citizens'
Nassau
2,000,0
2,050,0
2,000.0
3.000,0
1,500.0
1,000.0
25,000,0
300,0
600,0
1,000,0
300,0
70O.0
600,0
5,000,0
25.000,0
3,000,0
....
Mar.cfc Fuit.
8hoe<fcL.thr.
Corn Exch
Oriental
.
...
Imp. & Tra<)
Park
East Kiver
Fourth
Second
N.Y.Nt.Ex.
Bowery
...
N. Y. Co...
German Am
Chase
FUth Ave..
German Ex.
Germania
..
T.inrnlTi.
"Garfield
Tifth
4k. otMet..
West Side..
Seaboard ..
IstX.Hklyii
Liberty
N. Y.Pr.Ei
New
Amst.
Astor
Total
500,0
1,000,0
1,000,0
2.000,0
750,0
1,500,0
3,000,0
250,0
3,000,0
300,0
First
3,563,0
•265,8
3,3i)1.0
3,3'_>9,6
10,000,0
1,000,0
250,0
200,0
750,0
1,000,0
100,0
200,0
200,0
300,0
1,000,0
250,0
1,000,0
200,0
600,0
300.0
1.000,0
1,000,0
600,0
350,0
$
$
18,943,0
28,228.0
13,246.2
21.165.0
23,325,2
2,580,8
2,491,7
1,404,9
42-2,7
Pacilic
Chatham
18,013,1 197,428,7
7,710,2 24.760.3
5,822,8
352,7
9.0il9.5
2,240.2
2,226.9
130,1
4.854,0
357,6
3,682,4
547,4
4.431.0 27.698.1
11.935,4 147,884,2
4,424,1 22.810,5
3.261,1
618.7
i,oe7,5
6,091.1
422,5
2.043.2
2,010,4 16.392,0
6,841,1 49,319.1
7,260,0
1,064,2
606,2 16,491.4
317.3
3,459,3
7,1 66, H
1,338,7
7.630.0
400,9
3,276,0 29,l;!3.0
1,077,3
8.673.8
6,619.2 23,916,0
7.230.1 73.U2.0
108.7
1.185.9
2.957.0 20.720.V
9.5-.i2.0
1.502.4
14.992.1 105,.='30.6
s
8.157,3
886.
768,3
3.136.0
715,6
4.696.9
632, -J
4,308.6
4,224,7 46.309.4
9,933,9
1,784.7
2,62''.0
705,6
873,0
2,610,9
1,391,3 12,543,2
8,045.5
1,270.4
408.2
2.675,4
9,688,1
1,485,6
646.4
3,737,0
1.446,>< 14,826,0
624,6
4.170,0
2,003,6 11,610.3
5.307,2
497,6
6,197,9
674,0
4,677,0
682,6
P.C.
$
1,767.0 18,176.0 25-5
2.289,0 33,404,0 25 m
l,50S.O 16,001.6 24-6
3.054.0 21.590,0 -•4-8
2.444.9 26.112,6 26-6
2,856,0 V!<-2
200.0
8.186,5 203,842,8 27-3
1,912.5 23,073,0 26 1
6,473,1 27-1
581,0
7.122.0 25-0
835,9
81,2
2.610.9 21-7
6,397,0 23-;
601.0
411.9
3.681,3 24-9
1.487.4 20.828.0 260
l.=>,2i'5,9 132,660,3 25-1
l,:i68.8 19,60^,7 261
436.4
3.829,6 22-9
6,242,2 27-0
903.5
2,593,3 30-9
329,2
2,187.5 14,636,0 2V-8
4,284,9 58.770,6 24'o
6.855.0 23-8
486,3
1,60:\7 20,594,7 Jo476,0
4,132.0 22-9
672,0
7.100,5 24-3
442,3 10,344.2 2/ -3
3,737,0 35,685,0 20-2
545,1
8,626,;; 21-0
1,353.0 21,201,0 24-',
5,984,0 83,482,0 2.)-2
182.6
1,437.6 28-0
2.367,0 22.929,1 24-3
1,997.0 10,158,0 20-6
2,106,0 100.442,0 24-6
7.718.5 26-1
446,1
333.0
3,536,0 20-2
520,0
6.969,2 26-V
214,0
4,298,6 23-6
1.722,8 54.72^9 20-0
415,7 10,9-'3,9 25-6
3,894,9 23-1
690.7
fil2,3
5.340,3 19-9
1,675,0 13,466,8 24-3
277,8
8,522,2 26-3
140.1
2.924,5 24-8
756.7 11.362,6 23-3
326,0
4,398.0 26 1
1.708.0 17,828,0 2V-1
764,0
4.593,0 30-8
250.0 10,604,5 28-1
389,9
6.113,3 264
425,5
7,610,9 23-6
398,0
4,531.0 22-7
2.870,0
6,250.0
2,441.8
2,309,0
4,506,6
577,0
47.661.3
3,887,7
1,175,6
1,251,8
466,0
692.0
60^.8
3.929.6
18,121.1
3,768.7
443,2
787,9
473,9
1,891,8
10,104,6
1.150,0
3,569,8
474.1
1,053.8
2,389,7
6,289,0
1,:73,0
3.904.0
15,060.0
221.9
3,207,1
612,0
22,665.1
1,571,8
382,0
1,080.1
803.5
11,970.1
2,390,f<
210,0
454.3
1.610,6
1.969,7
687,4
1,890,8
781.0
3,131,0
654,0
2.729,7
1,165,9
1,347,
634,0
(
115,97'A7 137,656,5 11097017 210,350.2 83,794,6 11506619 25-6
. .
t
Total United States deposits included,
t
.^.16,999. 800.
Reports of Non-Member Banks.
—The
following
the
banks for the
is
statement of condition of the non-member
week ending Mar. 25, 1905, based on average of daily results.
We omit two ciphers (00) in all cases.
Mar
BANKS.
Capi-
Bur-
008 omitted.
tal.
plus.
Loans
Jnvest-
Specie.
ments.
Chelsea Ex.
Columbia
..
I4th .street.
Gansevoort.
Hamilton
..
Jetlersou
..
Mt.
Morns
Mutual
19th Ward
Plaza
Riverside ..
.
Stale
I2th Ward
23d Ward
.
.
Union Exch
$
100,0
100,0
100,0
100,0
300,0
200.0
100.0
200,0
200,0
400,0
250,0
200,0
200.0
100.0
100.0
100,0
200,0
100,0
760.0
United Xat. l.OOO.O
yorkville
100,0
.
Circulation.
(hearings.
&Bank
Clear'y
Other
$
142,6
68,2
62.8
264.5
315.9
124,9
131,4
87,1
133,2
333,5
129,7
226,0
194,0
242,2
103,2
767,3
117.5
109,5
636,4
1 50.2
293,7
$
687,8
604,4
512,2
3,163,0
6,872,(i
3,803,6
889,6
2,354,3
2,029,8
4,003,0
2,456.3
2.824,9
3,311,1
2,294.1
2,980.0
1.34^.6
8,205.0
1,958,0
1.684.5
4,904,0
2,25b,5
a,401.-3
$
16,0
16.4
30,3
47,7
253,0
367,0
19,2
112,4
13,6
163,7
12.9
155,4
22,4
2b,2
20:* ,0
18,4
545,0
37,0
48,9
112.6
307,0
35,0
$
$
30,7
35,0
23,2
233.6
194,0
78.0
47,1
40,1
304.8
440,0
299,5
$
Marll
Marl8
3,6
125,0
60,9
432,7
67,6
219,5
213,6
106,4
310,0
186,8
92,5
240,5
56,9
267,4
86,1
362,7
265.6
621,0
75.9
233,2
153,0 1,093,0
181,0
18,0
157,2
241,3
689,0
500,0
78,2
366,9
269,8
IV'^
61,3
99,9
146,7
130,0
119,6
106.1
284,2
205,8
178,0
104,5
272.0
170,0
134,4
262,0
63.9
264,2
16,170,0
18,985,0
19,681,0
52,636,4 191,564.0
6'2,635.4 192,881.0
62,635,4 194,b21,0
M.ir25
Philn.
Mai- 11
Marl 8
11899700 42,851,3 2,347,246,0
1187665.'- 42,864,5 1,731,482,4
11744381 42,803..^! 2,06-2,637,9
11506619 43,059,8 1,814,982,0
5,878,0 223,118.0
6,025,( 229,638,0
5,948,0 230,030,0
7.315,0
7,397,0
7,515,0
138.019,8
152,910,7
146,554,1
n
262,255,0
,942,0
122.725,2
260,457.0 11,917,0
126.388.4
Mar26
256.780.0 12,009,0
122.480,6
t Including for Boston and Pluladelphia the item " due to other banks,"
and also Government deposits. For Boston these Government deposit*
amounted on March 25 to $2,807,000 on March 18 to $2,986,000.
65,574,0
65,347,0
63,549,0
48.167.1 222,176.0
48,167,1 220,377.0
48.167.1 219,816.0
;
—
Imports and Exports tor the Week. The following are
the imports at New York for the week ending for dry goods
March 23 and for the week ending for general merchandise
March 24 also totals since beginning first week January.
;
FOitEIGN IMPORTS.
I'or week.
1905.
Total.
Since Jan.
1904.
1903.
1902.
$2,905,903
13,252.503
$2,647,642
11,146,107
$3,079,343
138,1 14
$3,180,653
9,342,766
$16,158,406
$13,793,749
$12,217,467
$12,523,419
$38,280,717
140,931,854
.$33,642,288
$39,258,365
108,982,236
$.^4,011,395
General Merchandise
9,
1.
Dry Goods
General Merchandise
Total 12 weeks
115,330,241
98,530.142
.$179,212,571 $148,972,529 .$148,240,601 $132,641,537
for one week later -will be found
our report of the dry goods trade.
The following is a statement of the exports (exclusive of
specie) from the port of New York to foreign ports for th©
week ending March 27, and from January 1 to date.
The imports of dry goods
in
EXPORTS FROM
NEW YORK
1905.
For the week
.$9,21-2,177
Previously reported..
Total 12 weeks
112.T37.il"
FOR THE WEEK.
1904.
1903.
1902.
$10,030,901
110.531,392
$12,253,832
$7,692,102
104,749,364
118.595,31.-)
$121,949,287 $120,56-2.293 $13i>-849.147 .$112,441,456
Note.— As the flgiires of exports as reported by tlie New York Custom
Hon.se from week to week frequently show divergence from the monthly
totals, also compiled by the Custom House, we shall from time to time adjust
the totals bj' adding to or deductin,? from the amount "previously reported."
The following table shows the exports and unports of
specie at the port of New York for the weekending March 25
and since Jan. 1, 1905, and for the corresponding periods la
1904 and 1903.
EXPORTS AND IMPORTS OF SPECIE AT
NEW YORK
EXPOBTS.
lioUX.
Great Britain
$
558,6
71,0
125,3
204,7
$
86,263,8
85,004,9
83,703,7
83,794,6
Week.
Imports.
Since Jan.
Week.
1.
Siixce
Jaiu
1,
Deposits
A gent. Bks.&c
Notes.
8
649,3
656,0
3,603,3
5,885,0
2,364,2
879,1
3,065,4
2,454,2
4,400,6
2,451,1
3,464,4
3,519,4
2,878.5
3.571,0
l,69ti,l
9,702,0
2,3b2,0
2,080,6
6,694,7
1,419.1
3,043,0
£orout/h. 01
...^,
.Y 1,600
20,899,553
..
..
Germany
West indies
Con.sol. Nat. 1.000,0 1.042,7
Fidelity
Deposits. \
Bos.
France
Colonial
Legals.
261,924.1 113442.-3 219.628.4
Marll 251.852.3 113-.^920,> 221,189.7
Marl 8 251, 852.;^ 1127ii7t^4 215,060,0
Mar25 263,629,2 11097017 210,360,2
Net
Leg. T.
N. Y. CITY.
Boroughs 01
Wash. Hgts
Century ...
Specie.
i
Deposit with
Man&Br'nx
Loans.
N.Y.
»
$
$
Uanliat. Co.
BAKKS Surplus.
all these figures.
s've.
OOs omitted.
Bk. of N. Y.
[Vol. Lxxx.
$8'7i;6o6
$2,623,031
2,785;718
20,300
7,260,000
1,000
5 a 688
1,402
61,342
187,993
37,965
320,089
9,870
$1,069,000 $30,958,071
770,000
2,683,774
538,400
2.391,745
$974,432
48.725
209,188
$3,178,938
4,322,368
2,177,123
.
...
...
$1,0'6'7',600
Mexico
South America
2.000
All other countries
Total 1905
Total 1904
Total 1903
Silver.
Great Britain
France
$765,041
.... ............
Germany
West Indies.......
""966
$7,797,630
308,000
5.000
31,472
Mexico
South America
........
$i'.615
18,679
17,302
679,999
All other countries
Total 1905
Total 1904
Total 1903
$766,001
909,246
667,551
$8,822,001
12,197.822
9.665,237
ii37,49€
46,688
62.309
$23,202
141, lOU
441,234
574
$606,202
218,974
318.831
Of the above imports for the week in 1905, $50,135 were
American gold coin and $130 American silver coin. Of the
exports during the same time, §2,000 were American
gold coin and $
were American silver coin.
Brooklyn.
Borough ...
Broadway
.
Brooklyn
..
Mfr8.'Nat..
Mechanics'
Merchants'.
Nassau Xal
Nat. City
..
Nortli .Side.
Peoples
17th Ward
3nra«?ueNat
.
Union
Wallabout
.
200.0
160,0
300.0
252.0
600,0
100,0
300.0
300,0
100.0
100.0
100,0
200,0
200,0
100,0
97.3
348.4
169,
58.>,6
500,3
64.3
773,7
571.6
170,0
191.6
92.7
239,3
112.2
UC,8
1,806,7
2,446,8
1,757,6
3,481,9
9,189.8
1,434.2
5,723,0
3.311,0
1,530,8
1,802.8
677,5
1,336,0
1,150,9
813,8
24,6
14,6
107.2
415,4
192.6
19.8
200.0
141,0
16,>i
76,H
12.0
122.0
40.3
60,0
192,6
116,6
173,2
242,6
59,3
224,7
108,0
640,7
611,4 1,188.0
81.7
152.8
417,0
646.0
314,0
572.0
91,8
37,0
13.i.6
105.5
62.3
64,4
25.0
138,0
119,4
80,6
30,6
28,0
63,8
-.-...
123,2
272.;^
110,2
46,1
23.0
68,0
144.6
163,9
57,7
186,0
434,5
76,8
2,001.1
2.505,9
1,984,0
4,442.7
11,066,1
1,629,7
5,810,0
3,862,0
1.601,5
2.118,9
698.8
1.168,0
1.636,1
818,0
Jersey City
400,0 1,077,7
4.406,2
166,2
321,9
,590 8
751,0
5.946,8
260,0
260,0
200,0
661,9
141.9
293,9
2.269.3
78.4
16.6
76,8
242.9
222.4
353,7
84,9
26,2
1,558,1
88,3
06,4
31,0
4,9
1.942,0
901,9
1,801.7
110,0
125.0
643.4
160,6
2.929,0
1,3H0,1
152,9
34,6
42.7
60,0
187,2
87,0
402,3
88,5
3.165,0
1.314.3
Mar25 10137<l 124577 110470^ 4.564,0 5.914.3 123469
Marl 101370 124577 10U0307 4,550,4 6.024.4 150233
Mai 11 101370 124D14 1079287 4,607,5 0.106.6 127768
7 423.4
First Nat...
UiKl.soii
1
Co
National
.
Second .Vat
Third Nat..
873,;.
HOBOKEN.
FirslNot...
Second Nat.
Tot.
Tot.
Tot.
7,053,4 1226281
1249137
7,456,0 1219044
Auction Sales.
—See page preceding.
Spencer Trask
Monthly Descriotive
List
&
of
Co.
Hip^h-Grade
INVESTMENT BONDS.
Transact a p;eneral bankino" business and execute
stock and bond orders upon the
New York Stock Exchange.
Branch Office, Albany, W.Y.
William and Piue
Moffat
&
Sts.,
New York.
White,
York Htock Exohanse.
1 NASSAU 9TKKKT. COUNKK WALXh
IDcalerM In Investment !»eeuriticR.
IMemborit Nevr
Tel. OtMO-Mdl
CgrUaadU
TeiopUoue eilooUa a
i»i>eeiaUr.
Apb.
THE CHRONICLE.
1, 1905.]
®a^jettje*
iawfejer$^
For Dividend* set page
1217
While considerable interest is manifested in various new
bonds and business of that class is reported good
over the counter, the transactions in the bond department at
the Exchange, except in the case of a few issues noted below,
have been limited in volume, and fluctuations narrow.
United States Bonds.— Sales of Government Bonds at
the Board are limited to ?3,000 4s, coup., 1907, at 105%,
and $16,000 2s, reg., 1930, at 104>4. The following are the
daily closing quotations; fur yearly range aee third page
issues of
1213,
WAIiL STREET, FRIDAY, MARCH 31. 1905.-5 P.M.
The Money Market and Financial Situation.— Although
nearly all the developments of the week affecting the general situation have been of a favorable character, the security markets have not responded by increasing activity or a
movement towards higher prices. Perhaps the favorable
developments had been discounted and therefore events not
especially unfavorable exerted the stronger influence. Whatever the explanation, the fact remains that the stock market
has been weak and increasingly dull, while the transactions
in bonds at the Exchange have been on a limited scale. The
latter may be accounted for in part at least by the interest
now taken in new bonds. It is well known that several
new railway issues have recently met with great success,
and the new Japanese loan offered this week has been many
Rumors of peace negotiations, in
times over-subscribed.
prospect or actually begun, are more persistent this week
than at any time before, and the European markets reflect a
hopeful outlook as to the early cessation of hostilities.
Railway traffic reports are not so uniformly fav rable as
they recently were, but the iron ana steel industry shows
no signs of diminution, and there are other evidences that
the coming season will be an unusually active one. The
money market has shown a firmer tendency this week, presumably in anticipation of the quarterly settlement, and
perhaps as a result of the large bond offerings and of higher
rates abroad.
The open market rates for call loans on the Stock Exchange
during the week on stock and bond collaterals have ranged
from 234 to 4J^ p. o. To-day's rates on call were <^}>i@ih4. p. c.
Prime commercial paper quoted at 3^@4 p. 0. for endorse-
foilowirg.
Interest
Mar.
Periods
U5
Q
couponQ—
registered —Jan * 10434
28, 1930
Jan *10534
28, 1930
2s, 1930, small-registered
coupon
small
28, 1930,
registered
38, 1918
coupon'Q— Feb *105
38, 1918
38, 1818, small.registered.Q
coupon'Q— Feb *ib3ii
38, 1918, small
registered —Jan -104 "a
48, 1907
Jan •105'S8
48, 1907
*l:52''8
registeredjQ
48, 1925
couponlQ— Feb * 132^4
48, 1925
Q —Feb
—Feb
This
is
Mar.
Mar.
28
29
Mar.
30
Mar.
31
*10438 •10434 * 10434 10434 * 104*4
*104'8 *105J4 *105i, '10514 *105>«
-
•*•••
'ioiV; •1044 *i04"'^ *i04>^ •104 >»
•104^4 10434 •10434 *105
»105
« ioii^
•10412 * 104*8 *104»6 •104=8
*105H2 * 10578 10534 •IOoBb
'132^2 * 13213 •132 Si -132»6
• 1 32 ^2. *132i2 '132
Ki 1326b
the price bid at the morning board; no sale was made.
Q
couponQ—
—Feb
*
Mar.
27
io3''.l *i()3'i 'i0354
*i03'i
*104's,
*105«8
*132«8
*
132=8
Railroad and .ISiycellatieoHrt Stocks —The transactions in
stocks have been on a more limited scale than for some time
past and the market has generally been weak. The tone
was firmer on Wedne.«day and some recovery was made, but
Thursday's market was again soft and the volume of business on that dav the smallest of the week. The net result is
to 2 points for a large portion of the active list
a decline of
Among the exceptional features Lackawanna is conspicuous for an advance of about 10 points on the announcement
of an increase of its dividend rate to 10 per cent. The "Soo
Line" common advanced i% points and retains all but a
Western made a new high,
fraction of the gain. Ontario
record and Great Northern isSpomts higher than last week.
%
&
North West., Delaware & Hudson, Pennsylvania, New York
ments and 4@434 p. o. for best single names.
The Bank of England weekly statement on Thursday Central and Louisville & Nashville have been relatively
showed an increase in bullion of £539,283 and the percent- strong. Union Pacific has been by far the most active issue.
Miscellaneous and industrial stocks have not been as conage ot reserve to liabilities was 49*59, against 55*05 last week,
the discount rate remaining unchanged at 2^ per cent. The spicuous as usual and in most cases price changes are uaimBank of France shows a decrease of 2,800,000 francs in portant. Consolidated Gas has advanced about 2 points on
gold and 400,000 francs in silver.
the e.^pectation that no unfavorable legislation will be enacted. Pressed Steel Car, American Locomotive, Tennessee
NEW TOBK CITT CLEAKINQ-HOUSE BANKS.
Coal & Iron and U. S. Iron Pioe issues have advanced. On
Differences
1905
1904
1903
the other hand, Colorado Fuel & Iroa and Sloss Sheffield
Jrom
March 25 previous
March 26
March 28
xoeeTc
Steel & Iron have declined and the U. S. Steel issues have
been steady and close fractionally unchanged from last week.
For daily volume of businesit ste page 1225.
Capital
115,972,700
115.572,700 110.322.700
Stirplus
137,656,500
132,366,200
122,764,400
The following sales have occurred this week of shares not
lioans & discotinte 1,109,701,700 Deo 17,976,700 1,007,863,700
904,599.200
Circulation
43,059,800 Ino
256,300
36,936,000
42,900,800 represented in our detailed list on the pages which follow.
Net deposits
Legal tenders...
Eeserveheld
2& p.
c.
Deo 23,776,200 1,048,668,500
•1,150.661,900
Specie
of deposits
210,350,200 Dec
83,794,600 [no
4,709,800
90,900
217,727,100
71,908,900
894,260,000
163,461,500
66,384,400
294,144,800 Deo
287,665,475 Dec
4,618.900
5,944,050
289,636,000
262,167.126
229.845.900
223,565,000
Surplus reserve
6,479,325 Ino 1,325,150
27,46S.875[
6,280,900
$16,999, >*00 United States deposits included, against $18,302,200 last
week and $45,948,100 the corresponding week of 1904. With these United
States deposits eliminated, the surplus reserve would be $10,729,276 on
March 25 and $9,729,725 on March 18.
NOTE. Ketums of separate banks appear on the preceding page.
*
—
—
Foreign Exchange. The market was quite strong until
Wednesday, inriueoced by lighter offerings of bankers' bills
and by a good demand for remittance. Then it became
irregular, but it closed steady.
To-day's (Friday's) nominal rates for sterling exchange
were 4 84"^ @4 85 for sixty days and 4 86i^@4 87 for sight. Today's (Friday's) actual rates for sterlmg exchange were
84i0 for long, 4 8595@4 86 for short and 4 8680@
4 8410
Commercial on banks, 4 8375@4 8385, and
4 8(535 for cables.
documents for payment, 4 83@4 8425. Cotton for payment,
4 83@4 831^; cotton for acceptance, 4 8375@4 8385, and grain
for payment, 4 b420@4 8425.
m
To-day's (Friday's) actual rates for Paris bankers' francs
5 19%*@5 19% for long and 5 n^4t@5 Yl%* for short.
Germany cankers' marks were 945^'a94 ll-lOf for long and
94 15-16(difi5t for short. Amsterdam bankers' guilders were
4011 (a40 i-16 for long and 40 3-16t@40 3-16 for short.
Exchange at Paris on London to-day, 25 f. 18c.; week's
range, 25 f 18c. high and 25 f 16i^o. low.
The week's ranae for exchange rates follows:
were
.
.
-Lon'j.-
-Short.-
—
Sterling Actual
4 8410
High....
I
®
®
1
®
I
4 8420
4 SoUO
IjOW
4 8380
Paris Bankers' Fravcs—
Hiph....( 5 1939*
® 5 1938
Low
5 20
5 19\*
Germany Bankers' AJarks
Hif!h....l
Low
I
94=8
'J4«ia
®
®
I
4 86
4 8585
y4iii8t
y4'^8
a>
®
®
5 17I2*
5 la's-*
94161a
9479
®
®
95
95
403igf
40ig
®
®
40s,a
403i8
5 17i2t
—
-Cables.-
8605
4 8590
4.
5
4 8fi30
4 S615
©
@
4
8635
4 8620
IT^t
Amsterdam Bankers' Ouilders—
High....!
Low
I
4011
39i'i6
®
4(iii8
'©40
I
I
Les8:*ii8 0llo^ ti32oflo/o. tsggofio,^
Plus:
TTiiflof 196.
I32 of
1%.
The following were the rates for domestic exchange on
New York at the under-mentioned cities to-day: Savannah,
buying
50c. per jil.QiO discount; selling 75c. per >;l,000 preCharleston, 12i^c. per .$1,000 premium; New Orleans,
bank, 35c. per $1,0 )i> discount; commercial 6O0. per $1,000
discount; Chicago, !5c. per $1,000 premium: St Louis, 30c.
per $1,U00 discount; San Francisco, 75c. per $1,000 premium.
State and Railroad Bonds.— No sales of State bonds have
been reported at the Board this week.
mium;
STOCKS
Weele
Amer
Ending
ifar.
Sales
for
31 Week
Bange for week
Range Hnet Jan.
1.
89i«Peb 9S»4Feb
91>«Mar3) 9i»4Mar31
32>4Mar2» 34I9MM28 24 Jan 34 la Mat
84TgMar2f 88 Mar27
4 20
77 Jan 86 Mar
60 93 M»Tii' 93 Maj29 91 Mar 99i«Jan
..
60 14034Mar27 U0'4Mar27 l4(;>4Max 166 Jan
AmerTobaoCo (old) pf..
^)MaT2^
>^Mar
Atoh Top & S Fe rlRhts 6,673
SMar28
»4Feb
800 147>aMar3 14"»4Mar3; 129 H. Jan 14»i«Mar
Canadian Pacsab 3d pd
Mai2r.
37
122
U8
Jan
125
Cent A So Amer Tele»fi25 Mar2^
Mar
60 Mar 56 Mar
300 01) Mari7 5^ M»i3l'
Dlstil Co of America, pt
HSHiMar 89'uFeb
Eleotrio Storage Battery 3,900 S-3'4Mar2'- 88>uMar31
Ft
A Denv C, stmprl.. 400 60 Mar27 61 Mar31 44 Jan HI Mar
01 Mai 104 Feb
11(» lOa Mar27 102 Mar27
Seneral Chemical, preL.
78VaMar
71 Jao
12s 7p»4Mai30 78HMar28
Homestake Mining
l-e6Feb l-80Feb
l-8i;Mai25
Horn suver Mining
260 l-76Mar3
10 Jan 201.^ Mar
Knick Ice (Chicago)
2.10.^
80 Mar27
1 6 "^ Mar 31
9 la Jan
14 Feb
M»r30
Manhattan Beach
100 10 Mar 30 1
24^Maii7
l8>«Jan 26'* Feb
Nat JEnam <S> stamping.. 1,1611 23'4Mar2&
Dock Co, prel
200 69 Mar2> e934M»i28 69 Jan 66 Mar
i«Mar'^7
i«Mar
i^Mar
North American rights.. 4,126
1
Mar l»gFeb
1 Mar2
QoioKallver Mining
100
1 Mara''
2i4Blar
Preterred
2>«Mai3
4 Mai27
«><Mar
200
Afrrlcal
Ohem,
Araer Beet Sugar
Preferred
Amer Teles <S> Cable..
pt.
60
2,220
W
NY
RR
Securities 111 Cent'J
400 95 Mar2i' 96 Mar 2 8
stock trust oertlfioatef
1.410 12T»Mar2s> 14 Mar2V 8 eather
Preferred
2,BO0 l(>5-^Mar2>> i09'aMar3
tr 8 Beduo <& Refin'g
66 24i9Mar31 24>«Mar31
Preferred
250 52>sMar2fc 53 MarJ5
92 Jan P6VMM
liSfMar 1 Og'itui
lOO'gJan 109 15 Mar
18 FeD 29 Mar
35 Jao
fi5i«Mar
Ont^idA Marfeet.— Trading in the market for unlisted securities this week has been moderately active and the movement of values decidedly irregular. Nortnern Securities
continued to lead the market in point of activity, tot- 1 ir».nsactions aggregating about 75,000 shares; atter an advance of
2 points to IQZ% the price of thpse shares dropped to 158?^;
later there was a recovery to 162^^ and the close to-day was
at 160^. The "stubs," which have been very quiet, sold at
Interbcrough Rapid Transit stock was severely' de750.
pressed in the early part of the week; from allj^ it fell to
201 and then reacted to 207; the final sale to-day was at
Standard Oil moved uu 3 paints to 625 but subse206J^
quently sank to fil2. U. S. Leather common (when issued) advanced from 417^ to 40% and closes to-day at 46; the preferred
rose from 97i^ to 9tii^ and ends the week at 98!^. Japanese
new 4s (when issued) were dealt in for the first time on
Tuesday; initial transactions were made at 91j^', but weakness developed later, whicf'i carried the price down to 88;
to-day there wa-4 a recovery to 8'.h^ and the cl;se was at ^93^.
Considerable interest has been manifested ia certain of the
mining stocks tLis wetk. and in t>ome cases sharp advinuces
have occurred. Tonopah Mining of Nevada advanced from
11^ to 15. United Copper stocks were active and strong;
in the early trading tlie common declined from 9'4 to 7^^,
but on Thursday a sudden burst of activity carried the price
to 12; to-day there was a further advance to l'd% and the
last sale was at ISJ^; the preferred rose from 56 to 65>^.
Outside quotations will be found on page 12iJ5.
New York
Exchange— Stock
Stock
Record, Daily,
Weekly and Yearly
OCCUPYING TWO PAUK8
STOCKS—M16Ji£ST AND LOWJiST SALJt FRJC£S
Saturday
J£are\ 25
<36
40
•74
80
89 >o 89Tg
102»« 103
141 >a 142
108'8 109 .
Monday
March 27
*36
74
88I4
245 1^
263
45
109
•121
36
2412
8934
17734
IOI4
11
96
8738
102 >a
139 >a
107 >a
•95
'<^
6712
140^6
1081a
96
*69H 71
199
201
673g
58'.
40^ 40 »b
•80
23
81"
23 "a
87
•63
66
•3434 3512
1733, 17578
17378 17534
2438
88 "a
102 "a
663, 6734
'150 157
'155
180
{8934 8934
14712 14875
155
180
8934 yo
975
4II4
185 185
24312245
261 261
'192 198
'193 200
1861a
244
263
198
200
18
1734
lOH,
41I2
3312
18>2
3413
10
10
107 7g 108 7e
'120 122
24^8
2479
v;478
•60
61
59 la 60
3638
3476
35
34
187 1881a 188 14 18914
335 388
388 394 12
33 14 33 "4 321a 34
331a 3312
88
89
8814 8834
89
89
14
"~
27 28 -2 •261a 2712 •261a 28
34
34
31
82 Vj 83
16
32
1538 1534
311a 32i«
4568 4612
80'* 81
83I4
45 '4
81
4638
81
68i«
67
65
70
90
305
518
6
>a
90
305
-32
•32
82 14
35
811a 8 134
41479 14 'e
31 14 313,
4434 4538
79»8 79 7^.
661a 6712
68
70
66
90
310
300
•85
6I4
•513
518
6634
•65
70
95
310
'85
'300
20"*
95
95
161>4l61l9
28^4
2834
65
•3613 38
65
8334
8334
•28«8 30
64'e 647^
•14
17
•60
65
•40»a 4II2
•100 102^2
360
•68
60
14136 1417t
168 Ha 16834
88I2
1221a 12314
24 «8 24^6
S'ZSg
170
62
94
118
llSHi
166^2 16634
3118 32
66
663^
107'8l07»fc
146
4034
•21
22
1613g 1627b
49
48
•110 117
•80
82
95
95
95
160'4l6l»8
•9314
28*4
2334
64
64
*36>a SSH!
831a 8312
30
30
65 >a 65»4
*14
17
•50
55
93>4
93I4
15914 15934
2734 281a
'53 >a 56
•37
39
8314 833,
313*
31
65
66
17
65
40
40
*40>a 4II3
100 103
98 103
•310 360
'310 360
58 60
5614 58
140 ^ 1417s 1393a 1403,
168 14 16808 167i4l68>a
8836
87
86»8 877,
122ial23'2 12214 123 '4
2434 25 14
24 >4 2434
160 170 160 170
62 64
62
62
*89
•89
95
95
H7'all9 •117 118
166«6lS>8
3114 3134
66 14 6612
10638 1073,
141
41
2178
161
471a
145
413g
2178
96
94
160
•28
29
•631a 55
•36 W| 39
831a 84
31S8 32
650» 66
•14
17
•50
56
•93
169
>4
•14
60
leoiaies
SOSj
65
31
65 14
4018
•98
4038
103
350
60
310
56
13934 141
167 I6734
8638 8734
122'al23i8
24 14 2434
150 170
60 64
89 95
118 122
I6714I69I4
31
3178
6534 66
lOoialoeSj,
140
145
42
21'4 22
161
160
Hi
•41
45 14 4518
80 19 801,
67 12 67 Hi
65 70
85 95
305 305
•y3
93
95
14-^38 143
14
44 '4 4434
12014 l-'Oii
noo
84
112
95
96
84
•24 >2
141 >a 143^4
4478 48 >v
I2OI4I22
105
94
92
57
27
78H, 7812
71 S 7112
•188
192
46'8
90
93
95
8413 84 12
34 14 34%
bOi-j
80
•60
70
•13
•61
4834
112
45
45
119
119
84
112
80
241a
150
621a
2434
170
621a
89 95
1201912114
168 1681a
3034
6434
4II4
•2114
105
S»5»(,
92
891a 91
921a
94>4
92
31I4
65
IO6I2
145
4II2
22
36
51
00
13
48
2434
26I2
•24 la
7812 784
•71
71
76'2
803^
70
U
192
78«8
70
185
16 la
57
261a
79
70 '4
192
120
80
105
124
84
112
941a
9389
9488
92
92
•8'Jia
90 la
33 14
78*8
34
79 14
331a
3379
79
79
70
60
13
70
95
901-,
89
7914
93
14034 142 H:
4734
47
la
9234
9134 92
9m,
33 !« 3ll8
33 "a
79 14
•60
{14
51
185
105
92
•8934
120
84
112
120
*80
•49
2418
185
70
161a
57
2612
60
13
49
•24 1«
77
70
192
}68
68
95
85
310
2334
95I4
22
93
95
•93
94
94
159 la 160
1591a 160
'29
•28
2812
28
53 55
631a 55
•37
39
361a 39
8334 84
•831a 84
Siv, 32
SlHi 317g
6479 65 'b
651a 66
^^14
•14
18
17
47 61 50 55
3939 41
40
40
98 102
•98 103
'310 350
•310 350
69
59
561a 60
140ial41i2 141 14 14218
•166 168
I6634 1671.^
8734 883,
87
88
12238 123
12234 12314
4034 42
93 95
140 la 141 7f
463,
45
95
80 »8
671a 671a
22*4
4712
I40I4 1413,
45 7g
93
106
140
22
6h
45 14
80 14
300
185
I6I2
57
26I2
7812
70
192
Range
1905
100-share
Shares
Ann Arbor
Des Moines
Highest
Loxoett
35
&
Ft.
Detroit South. Tot.
Feb
Do
tr. ctfs
tr. ctfs.
Terre Haute..
<fe
pref
Great Northern, pret
Green
Bay<fc W..deb. olf.A
Do
B
deb. ctf.
Hocking
Do
Valley
pref
iUinois Central
owa Central
Do pref
Kanawha
<&
Michigan
C.Ft.S.<feM.,tr. cts. pfd
So. vot. tr. ..
Do pief. vot. tr. ctfs.
Kansas City
Keokuk* Des
Do pref
Moines...
34 No*
66 N01
89 14 Net
104i«No'»
Jan
87^
1041a Feb l56i2No-»
72 79 Mar 105 14 Deo
37»8Feb 96 12 Oct
38 Feb 70 la -Vo»
ll8i4Mai 160 Oct
nssia J'ne 166 Oct
83 Nov 39 Aug
109 la Mar 13534 Oct
64 Apr 72 No*
37 la Feb 1
25 J'ly
74 Mar22 54934 J'ne
9338 Mar 9
64 Feb
6
104 >4
145\,
Mar
9
Marl5
lUisMarl3
Feb 8
6838Mar26
Jan 18
160 Jan 31
90i2Mar31
150i4Mar21
7234 Jan 31
206 "2 Feb 3
60i8Mar21
44'2Marl6
83i4Jan 4
25 1« Marie
88I2 Maris
6834 Jan 18
3714 Feb 7
13334 Marl4
192 Jan 31
249 Jan 31
265 la Feb 1
225 Jau 31
230 Jan 31
19iaFebl7
36 la Mar22
1378 Feb
64 Feb
98
159
1541a
28»4
Feb
Mar
33
76
Jan
Jan
12^9 Jne
801a J'ly
47i2J'ne
20 J'ne
19434 >:o*
51 No*
47i4No'«
85I4
26I4
90
7434
Jaa
No*
No*
No*
39 la No*
13719 Feb 177*8 Deo
Mar 1867gOct
173
161i«Mar 2141a De«
207 Feb 237 No*
Mar
135
No*
Deo
160
{165 Apr 192
Aug 16>4No*
6 "4
lli2Aug 27»4 No*
4 J'ly I6I4N0*
29 May
68i2May
Mar2
121*1, Marl
100 Feb
27 Mar3
131a J'ne
64i2Febl0 48 J'ne
39 la Feb
177, J'ne
196 Fob
149 Mar
100 Marl4 2601a Feb
361a Marl
18 Mar
91 Marl5 64»aFeb
111
48 la No*
93^ Deo
15 No*
2439 No*
63 Deo
37 la No*
190 la Deo
Deo
35T9N0T
89 Deo
19>aJan 27 De«
mJ'ne 1434 Jaa
2»4 J'ne 33 la Deo
60 19 J'ne 7934 Deo
62iaMarl5 521a Maris
640 35 Jan 11 44iaMarl4
Lake Erie & Western.
99 14 Mar 2 106 Marl3
Do pref
i290 Jan2( «350 Maris
L. Shore & Mich. South'n
300 66 Jau 20 65i2Feb 3
Long Island
Louisville <fe Na-shville... 21,300 1134 la Jan 25 I45I2 Maris
4,700 165 Jan 3 175 Feb 9
Manhattan Elevated
91 Marl?
Jan
etrop. Spcur., sub. rec. 58,400 73
40,100 11418 Jan 9 1^25i4Marl7
Metropolitan Street
241a 2434 Mexican Central
15,900 21 19 Jan 25 26 Marl3
150 170 Michigan Central
4135 Feb 3 §150 F'ebl5
60
64 Minneapolis & St. Louis.
300 56 12 Jan 12 62i2Mar21
89
86 Jan 19 91 Feb 24
95
Do pref
xll8 II912 Mian. S. P. * S. S. Mane. 12,850 89
122 Mar29
"a Jan 1
*165 166
6,100 148 Jan 13 169i4Mar29
Do pref
31
311* Mo. Kansas & Texas
5,200 30 Jan 24 33I4 Jaul8
65 14 65 1,
2,800 62 Jau 10 69 Marl 3
Do pref
1001410714 Missouri Pacific
22.100 104 I2 Jan 25 11079 ,uarl3
'140 145
137 Jau 12 14739 Mar 4
Nash. Cliatt. & .St. Louis
40I2
600 40 la Jan 4 45 Jau 16
at.ot Mex, non-cum.pf
21 14 411a
22
40ii 21
Mar 7 244 Jan 1«
Do 2d pref
;160ial613g N. Y. Central <fe Hudson. I84,s00 14134 Jan
6734 Mai 14
47 14 4334 N. Y. Chic. <fc St. Louis...
5,6U0 42 Jan 20 51iaMarl3
'110 117
115 Marl 3 122 la Jau 30
Do Istpref
800 74i-iKebl7 83 Marl4
791a SOI4
Do 2d pref
•200 14 203
48 19812 Jan 3 llOiaFeb 4
N. Y. N. Haven <fe Hartf
6234 6334 N. Y. Ontario <fe Western. 272,600 403eJan 5 64 Mar30
8519 85 I2 Norfolk * Western
30,100 77i8Jan2J SSiaMarll
92 94
9118 Feb 24 94 "a Feb 3
Do adjustment pref.
9234 93
700 78I4 Jan 17 98 Hz Feb 7
Pacific Coast Co
loo
'1U5
Jau 3 08 Feb 6
108
Do Istpref
95
95
100 85 Jau 12 98 Feb 7
Do 2d pref
142 14312 Pennsylvania
365.300 135 Jau 25 14734 Mar 13
9,500 27 Jau 2o 48iaMar27
461a 47
Peoria* Eastern
77 Jan b 106 Feb 14
Pore Marquette
80 Jan 11 87 la Feb 6
Do pref
800 118 14 Mai b 24 Mar 1
124 Philadel. Rapid Transit..
80 84 Piltsb. Cln. chic * St. L.
200 75 Jau 24 8734 Marl3
105 Feb 17 .12 Marl3
105 112
Do pref
94
279,070 a;79 Jan 13 9934 Mar 9
95
Reading
91 Mar24 94
Feb 2
92
1,060
Istpref
911a
24 84 Jan 5 92 Feb 3
490 la 901-2
2d pref
33 14 34 >4 Rock Island Company
64.250 32i4Mar'23 37 79 Jan 18
80
80
3,500 78»8 Mar28 85 Jan 4
Do pref
50 70 14 Rutland, pref
69 Jan 17 72'aJan 19
13 16 Sj St. Joseph *Gr'd Island.
50 131a Jan 13 1734 Jan 31
•50
100 51 Mar27 5334 Jan 21
62
Do Istpref
2414 Mar22 29 1« Feb 3
2419 26 12
Do 2d pref
"210 75 Jan 24 HII4 Mar 6
«76i4 76I4 St. L. * S. Fr. 1 8t pref
1,600 70 Jan 6 73 la Mar 6
Do 2d pret
701a 70 la
176 Jan 30 192 .Marl6
185 192
C* E. I. com stock tr ctfs
.
. .
"
;•
.
,
Highest
Lowest
160 22 Feb 20 28 la Mar 17
9 7g Jan 24
6 Feb 8
100
200 3138 Mar 4 36 la Feb _
la
84
14 Mai 31
3,150 76 Jan 27
6i9J'ne
3,810 12-i8Jaul2 17iaJan21
9i4Ang
6,770 26 Jan 3 37 Jan 21
80,600 37»8Jan 3 4834 Marll 21iaMa5
5,965 75i4Jan 3 83'aMarll 66*8 May
5,200 55»aJau 3 71 la Mar 3 33 Ma}
40 68 Jan 10 7219 Jan 16 54 J'ly
200 90 Feb 28 90 Feb 28 73 Feb
1,100 236 Jan i 310 Mar27 170 Mai
83 Feb 16 90 Jan 13 70 Aug
'
285 17 la Jan 6 24 Feb
11 J'ne
400 86»gJanlb 99 Marll 60 May
100 90 Jan IS 967gMarl3 77 Mar
8,102 16234 Jan 26 164 Marie 12534 Feb
910 •27 Mar23 32 Feb 3 14 J'ne
200 64 Mar27 583, Feb 3 32 Feb
36 Jan 23 39 Marl
22 »a May
1,350 8I34 Jan 25 841a Marie 64 19 J'ne
11,850 27»aJan 7 34 Feb 14 161a Feb
7,218 52 Jan 3 70 Feb 14 31 Feb
1434 Feb 25 1434 Feb 25
lOiaJau
Dodge.
Erie
Do Istpref
Do 2d pref
Evansv.
tor J^evioxn
Year f 1904)
lots
Week
KXCHANGK
*32
35
Do pref. vot.
83 19 84 14 Detroit United
16
16
Duluth So. Shore •& Atl..
32 35
Do pref
20 14
95
10578 10634
144 145
22
25
514
6l2
16038 16212 16118 16218
4714 48I4
461a 47 la
110 117 110 117 110 117 •110 117
8lii *78
S0I2
sola 80 7b 79
80
79
1202 20234 2021a 208 201 202 K, « 200 14 20034 201 202
60 -a 623b
62 14 64
58=8 6336
62
6338
6 134 6318
86 'a 8678
84'>8 8534
8534 8638
8434 853,
84»8 85
*92
•02
*92
92 94 5e 92 94
94
94
94
•93
90 93
923* 9234
94
93
93 "2
93
105 108 •105 108 105 108
"105
108 105 108
163-fe
lor Year
of
Railroads.
40
25
27
•514
8234
I6I4
33I2
'95
93I4 95
•26
32
70
95
310
Bar^e
On bcisis
,
32
8O34
6734
01
the
&
82=8
16
32I2
46
Sales
STOCK
-74
80
Do pref
66 Feb 6
87 14 87
Santa Fe. 68,630 84 la Jan 25
871a 88I4 Atch. Topeka
102
1023,
6,100
99
Jan 25
1021^
Do
102
pre(
142 1421a Atlantic Coast Line RR.. ll,50u 120 Jan 25
1401a 14J
10779 lOS^e Baltimore* Ohio
10738 108
59,630 100 la Jan 25
9*5
95
Do pref
442 91 Mar ii
96
J 95
68I4
6714
Brooklyn Rapid Transit. 103,445 581a Jan 25
66'4 6712
Buttalo Roch. & Pittsb'g
154 Jan 25
150 157 150 157
Do pref
159 Jan 6
155 180 '155 180
901-^ Buffalo & Susque, pref..
90
1.678 87iaJan 4
•Sli-a
49,350 13034 Jan 25
14778 1483b 148 14812 (Canadian Pacific
'70
70
200 6719 Jan 11
71
71
Canada Southern
200 200 Central of New Jersey..
200 190 14 Jan 3
200 200
57 ig 5734
5738 3778 Chesapeake cS: Ohio
80,700 46«8Jan25
•40
4134
4138 41»8 Chicago*: Alton
1,100 3838 Mar 8
80 82
800 80 Jan 25
81
81
Do pref
23 14 23 12
2314 231a ChicaKO Ureat Western.. 10,010 21 79 Jan 26
87 88 la 87 88 la
85 Jan 24
Do 4 p. c. debentures
62iaMar23
Do 5 p. c. pref. "A"
601a 66I2 *60ia 661a
3539 3538
500 32i4Jau25
Do 4 p. c. pref. "B'
341a 3433
171
175
1757g
e
17414I751*
Chicago Milw. & St. Paul. 78,600
14 Jan
I86I2 184 I86I2
li?4
180 182 la Jan 13
Do pref
243 la 244 14 242 24334 Chicago & Northwestern 10,213 205 19 Jan 6
258 263 *258 263
Do pref
833 234 Jan 13
150 Jan H
190 195 190 195 Chic. St. P. Minn. <fe Om
190 200 190 200
195 Jan 17
Do pref
177, 1818 Chicago Term'l Transfer
734 Jan 6
18
18
1,100
34I4 35
Do pref
2,800 17>2J8n 4
331a 3434
IOI4
939 1034 Chicago Union Traction.
9'aJan 3
10
6,800
45
45
500 391a Jan 7
Do pref
10714 10812 Cleve. Cm. Chic. Je St. L.
I0713IO8
3,500 90 Jan 14
•11914122 118 122
11919 Mar 8
Do pref
2439 2536
251a 27
Colorado & So., rot. trusi 12,350 22 14 Jan 21
6138
60
Do Istpf. vot. tr. cf8. 3,500 69iaMar29
591a 6912
3534 37
3434 3538
Do 2d pf. vot. tr. ctfs. 4,550 34 Mar23
189 19112 190'al9138 Delaware* Hud.son
6,600 I8OI4 Jan25
394 394»e 39438 39438
elaw. Lack. & West'n
1,800 335 Jan 2
34 14 34 14 Denver & Rio Grande...
3312 3312
400 3038 Jan 2
*88^ 89
89
891a
Do pref
2,360 85 Jan 23
>-0
8234
1612
151a
3134 3378
45
80
40
35
20>«
95
•141
•40
96
66
241
241a 2434
•5
£3>4
15'4
Slia
•89
36
74
35
>-0
184
•31
•160
•61
40
18t5iv
6
•310
36
•74
•36
40
*74
80
8634 x8
10238 102 H,
139'al41S!
107 78 10838
24614
27
•9314
I
March 31
149
14634 147 76
69 7g 69I4 6934
•199 201
201
5718 58
591a
41»8
40-2 40 12
82
81
81
24
23
23 "v
88I2 *87ia 88 12
6612 •60 la 66
3434 343,
36
•5
•65
90
802
Thursday
March 30
67 'b
150
155
180 *155
»27
67^8
March 29
60 14 60 la
35
36
189 190
378 390
SSIIb
8968
9612
Wednesday
42
42
108 10934 107i»108
*121ial22
'121
122
45
109
122
2413
1093(.
iridav
Tuesday
March 28
258
258
'192
197
193
200
18
18
35 12
3318 3438
35
60
60
•34 la 35
189 190
•875 390
•32 "2 35
I
243
258
I97I2 '192
'193
200
19
18
114 IIH
8912
102 >2 103
140 1411.
108=8
961a
67 1«
67
68 3g
'150
•160 165
'155
•155 180
893g
•89
92
148^8 14834 14734
«6t<»4 71
6934
•200 aOOHi '199
57»8
67^ 58
41^ 4112 411*
•80
81
81
2S=8 24H
231a
•87
88>2 *87ia
*60ia
•601a 67
•34S4 36
*35
177 19177 . 175ag
•185>i2l8Ci2 '185
243
•257
•192
•192
•18
3K
40
80
STOCKS
NKW YORK
46 4 Apr
35934
1479
Not
28 "a Not
4i»BN0T
Deo
77
581a Deo
67 Deo
S3
2421a
361a
2034
Not
De«
Nov
Not
Deo
Deo
Deo
94
96
159
33
Not
Not
5934
33 Deo
831a Not
31 79 Not
Not
6634
193gApr
Apr
Mar 43i4Deo
26
85
{245
46
52
J'ne 105
Oct
Nov {300 Deo
May 62 la Not
Feb 14834 Deo
101
13934 Mai 169 la
Not
96 la Aug
72 14 Mar
Mar 13038 Oct
Apr 23i^NoT
{119 Vj Feb 150
Not
40 J'ne 6734 Jan
10434
5
80
66
116
J'ly
961a Sep
Jan
95
Oct
Oct
May 160
Feb
1439
3638
Not
32 14 J'ne 65 14 Deo
87 Feb 111 la Deo
lOliaFeb 14738 Deo
3434 Feb 45iflNov
1579 Feb 25'«NoT
Mar 146 la Deo
May 47 Deo
May 115 Not
73 Deo
J'ntMay 199 Oct
11279
25
101
60
1-^
{185 14
1939 Mai 47791
(Oct
53 la Mai 80 la Deo
88 May 96 Deo
61 Feb 82 la Deo
95 J'ly 101 Sep
61 14 Jau 86i«Deo
Ilia Mar 140 Deo
17 Mai 32 la Deo
74i8J'ne 8138 Jan
68 May 79 la Nov
Deo
Deo
Deo
Deo
85 Deo
3734 Nor
8638 Not
7214 Dec
Apr 80
Apr 07
3334 Mar 8238
76 Mai 92
55
90
65i4Feb
19 V Mai
5734 Jan
30
Api
9
Mai
May
36
16
«61
18
60
30
Nov
Not
Not
Jau
Mai 7934 Deo
39i4Jan 72 la Deo
150 Jau 185 Deo
BANKS AND TRUST COMPANIES— BROKERS' QUOTATIONS
Bankn
Bid
KKW YORK
'kjnericali ... 610
Amer lixch.. 272
Astor
776
Battery Park 160
iJoweryl
325
Butch'HiVi
Century
Chase
•
Chatham
Dr 155
Ask
525
278
825
liaukit
Mid
City
290
Coal * Iron. 23')
Colonial 1i ... 450
Columbia .. 400
Commerce... t224
Ask
295
'1
170
165
195
650
320
330
Chelsea Kiel 170
Chemical .... 4276 4325
CoUHolidatwl 152
C'rnKxcligol 385
Discouulll ... 160
East River.. 160
Fidelityli .... 180
A veil..
t
22o
157
Ji'j
160
160
200
3450 3760
1340
CltlzeuH' (;trl 166
172
760 780
* Bid auil askeil prices; uo sales woro inauo ou mis
* Sale at Stock Exchange or at aaotion Uus week.
1-.,
Fifth
Fifth
First
Bid
Ask
14thStreetTl. 300
Bid
Bankn
230
Irving
Fourth
215
Jefferaonll...
165
Gallatin
Gansevoortll
Garfield
42.->
Liberty
Lincoln
520
1600
210
415
140
500
Germ.an Ami] 170
German Eili 400
Germaniall .. -.91)
Green wiclili 230
Hamilton^ .. 170
ll-auover
510
Iiu|i * Trad. t'i90i2
InterboroTl.. 160
145
Ask
240
180
540
Maiden Lane 105
175
ManluUtanll.
Market *Ful
(.•20
250
525
Mechanics'
Mecli * 'lYali
Mercantile ..
.Mercli Exch.
.
Merch.'vnts'..
160
Metropll
315
262
300
160
280
170
175
400
?30
270
310
287
I,SO
185
Itajiku
Pacilloll
t2.'>tiia
Park
530
iLiy.
{ ijosi llia.n lOi) .siuirm.
lii rK.ui.
;
w dlaio Daun.s.
Sold at
s Trust Co. cortiaoatos.
h Aasessmeut paid.
n
Bid
MtMorrlsll.. 200
Mulualll
290
190
Nassaull
New Amstor 475
New York Co 1300
N Y Nat Ex. 200
New York. .. 317I2
19th W.-vrdll. 250
North Aiiier. 220
Northern
130
215
Oriontalll
Ask
Bid
UanUit
Ask
215
315
19S
500
Prod Exchll
175
185
Riversidell
250
205
Seaboard
r.70
230
700
.i22i2
.Second
700
Shoe*
Loth. 150
290
130
585
People'sll
Phenlx
Plaz.i1|
..
140
695
ibo'
1200
2'26
Stateli
206
250
34th Street.. 196
12 th Wardli. 120
23d Wardli.. 126
540
Union Kxchl 200
210
a Kx aividoixl unl risjiius.
private sale at this price.
tt
Now stock.
Apr.
1,
Stock Record— Concluded— Page 2
1905.]
STOCSS—HJeUEST AN-D LOWEST BALE PRICES
Baturdav
Monday
JIarch 25
March 27
253*
B*"*
'
27
64''g
69 Hi
68
118Vj1]8>s
34'8 35
*97i4 98
*96
98
38^4 39 »8
»129 132
•
281a
381a
284
57
68
38^4
31
5734
59
Sl^a
813(.
811a
8358
23ie
23
23
46"^
ISHi
473,
4713 4734
231a 23I2
*18
46
*26i4
2334
6I34
•244
99
341a
33^8
60
683(,
110
•16'4
I634
805 la 209
14
64"%
141a
64«p
42 >a 44 1«
•95 115
95
961a
187
1871*
2238 221,
771a 7734
92I3 921a
•35
•86
62
•116
44
109
37
88
39
3934
931a 93 v^
»249 250
35 14
34
941-2 95
211a 21 'fc
,
:
.
bO'4
3014
9SI4
94
^8
81a
IOI4
5234
51a
7I4
95
38
230
84
84
IOI4
1014
61
6i8
•8i8
10>4
7
39
99 7e
344
95
35
230
334
IOI4
5079 61 7^
6138
54
539
•384
6438
26
Week
EXCHANGE
26
63g
3934
18
18
44
44
•244
Shares
Lowest
3.000
Southwestern..
St. L/oai8
Righest
24 4 Jan 6
61
1734
6234
78>4
794
39
393^
9934
3434
994
34 14
93
804 AmalgamatedCopper
93
35
•33
•220
938
IOI4
6I34
•6I4
64
3838
38=8
1334
18
434
13'^
•58
56H
105
•15»4
13^8
•58
60
681*
6434
44>4
105
951,
55^
•105
110
I634
206I42O8
14
134
15^8
141a
6434
46
115
14
6438
14 4
644
45
115
9434 95
18478 18478
2178 224
7734 78
914 92
•36
•85
37
87
158 1684 •15541584
1 00 la 100 's
10014100=8
45
45>a
434 4434
112
111
110 llO'e
39^8 4134
4034
40
93 'g 941a
934 94
2481a 2481a
3513 36 "a
36
96
82
22I4
81^8
31V:
9912
9515
98
90
941.J
125
1
1
951a 97 ^
43 >g 4515
13=8
106
1534 16
207I4
207
IS'^g
794
334
514 614
De pref
533
54 American Ice
Do pref
2014 American Linseed
19
444 4534
Do pref
27 4 Jan 20
Highest
Lowest
94J'ne 29
De<r
6038
714
1378
1378
137e
•58
60
60
574 58
67=6
•95
105
105
164 167t
2074 2084
207 4 209
214 2178
794 81
303*
984 99
90
'a
97
444 464
124 13
Do
pref
American Malting
Do
pref
Amer. Smelt'g<& Refin'g.
Do
pref
American Snuff
Do
pref
American Steel Poimdr's.
Do
pref
American Sugar Refininp
Do pref
& Teleg...
Amer.Tobac.(new),pf.ctf8
Amer. Teleph.
American Woolen
Do
pref
Anaconda Copper
Brooklyn Union Gas
runsw. Dock i& C. Imp'
Buttenck Co
/ Colorado
Do
&
Fuel
& Iron...
pref
1
94 14
963^
434
124
44
1338
404
93
•245
934
250
3538 36
21=8
247
3534 36
96
96
22 '6
82 14
pref
New York Air Brake
North American Co., new
Pacific MaU
2278 2334
Pullman Company
1>
ail
way
Vdo
Steel Spring...
pref.
RepabUc Iron & Steel ...
82 4 823,
Do pref
804
304 32=8 324 344 Rubber Goods Mfg
9941024 102 10534
Do pref
94
87
924 954 Sloss-Shelfield St. &
*110 113
Do pref
164 Jan 17 204Mar31
36 Jan 19 46 4 Mar 6
90,700 33 Jan 25 524Mai27
6,005 103»4Jan 6 1134Mar27
7s.
i-i
Iron
1334 14
sUnited States Leather...
106=8 1073^
Do pref
200
86
6,820 544
100 115%
93,630 244
2,600 97 =8
1,350 147
12.300 98
1,600 42
19,7ou 1054
19,110 33^2
3,460 3734
462 237
21,800 32
1,325 93
98,070
39,785
67,610
6,100
15,400
57,651
10,270
95
96 U S Realty & Imyrove'nt
6.400
43
4334 IJnited States Rubber
13,100
11434 115
Do pref
5,620
35^8 36
United States Steel
262,350
Do pref
95 4 »63i,
136,020
344 344 Virginia-Carolina Chem..
3,575
Do
pref
j;1004107
2,150
4S4 484 Virginia, Iron Coal <fe C.
1,600
260
934 934
•175
*189
180
200
Jan
244 J'ne
3334 J'ne
9434
Deo
Deo
37 79 Deo
97 Nov
7 J'ne 20=8 Nor
22 4 J'ne 42 4 Nov
16 4 Jan 3638 Nov
75 4 Jan 105 Nov
24 J'ne 9 Deo
16 J'ne 29 Deo
I
U
•250
67
834 Jan 14
1,600
634 Jan 3
2,800 23 4 Feb 9 28 4 Mar 7
65,600 7934 Jan 9 103 4Mar20 46 Feb 82 4 Deo
4,200 111 4 Jan 13 12334 Mar 9 8834 Jan 116 Oct)
169 4 Jan 12 183 Jan 21 110 Jan 170 Nor940 99 Jan 7 1014 Feb 27 85 Jan 99=8 Nor!
5.102 1234 Jan 6 1838Mar20
34J'nt 154Deoj
18,300 6234 Jan 6 664Mar21 26 J'ly 574 Deo
18,550 13838 Jan 26 1493, Mar 2f| 1224 Mar 153 Nor!
236 1374 Jan 17 140 Mar 7 123 Jan 141 Nor;
143 Feb 16 1484 Jan 6 121
Feb 1494 Nor;
6',925
91 78 Jan 25 99=8 Feb 8 8538 Nov 96 Deo
11,795 20=8 Jan 26 31 Mar21
10 Jan 26 Nor!
900 93 Jan 6 l084Marl5 69 Jan 9434 Deo
2,345 1034 Jan 25 123 Marl3 61 Feb 12078 Nor:
100 203 Jan 26 2:215 Feb 14 186 Mar 229 4 Oct
12=8 Deo
5
1,200 107Qjanl3 14 4Marl7
J'ly
58 Mar 1 60 4 Jan 18 477gFeb 6234 Deo
5838
91,450 43 Jan 25 59 Mar24 25 4 Mar
Nor;
500 85 Feb 10 105 Mar24 63 Apr 95 Deo
8 J'ne 19 4 Deo
1,950 1434 Jan 25 18 4 Jan 30
17,800 1944 Jan 9 214 Mar 3 185 Feb 220 Oe»
133^4 Feb
l284Jan
1014 Jan 131 Deoi
6,065 123^ Mar22 2234 Feb 7
934 May 264 Nor!
3,127 624Mar23 79 Jan 10 65 Mar 82 4 Nor
62,268 x3478Jan25 47 Mar31 19 4 J'ne 404Deo«
60 Jan 11 120 Feb 20 434 Nov 68 Deo
6,100 76 Jan 5 97 Feb 21 71 Nov 90 Nor
1,200 181 4 Jan 24 192 Marl6 cl51 J'ne 1944 Nor
12,000 20 Feb 1 254Marll 104 May 25=8 Deo
2,450 764 Feb 6 82 Marll 64 4 Feb 797eDeo
800 65 Jan 18 100 Feb 23 26 Mai 72 4 Deo
37 Jan 10 4078Feb27 28 Sep 4138 Nor
16
67
24
94
60
100
178
".J
35 4 Deo
38 Jan 10 38 Jan 10 22 Ang 39 Deo
126 §2094 Jan 4 246 Feb 2 7 180 J'ne 219 Nov
6,885
5 Aup 14 Deo
74 Mar 11 14 Jan 4
1,600
2 =8 Jan
114Deo
94 Feb IS 114 Jan 14
12,950 4534 Jan ;! 554Marl7 114Jan 4834 Deo
934 Nov
900
5 4 Mar22
74 Feb 1
6 Dec
1,000 354 Jan 10 41 Feb 2 244 Mar 42 Oct
Mar29
Jan 25
Jan 10
Jan 24
Jan 7
Jan 24
Jan 20
Jan 25
Jan 25
Jan 31
Mar
WeUs, Fargo & Co
est'n Union Tele'gph
WeBt'gh'seEl&Mlgassen
Do Istpref
.,
88 4 Marl 3
714Feb
Marl7 36 Jan
120-'4 Mario 1004 Jan
474Mar3l 144 Feb
1114 Feb 20 80 4 Jan
15934 Marl7 120 Feb
105 Feb 10 80 Mar
494 Jan 4 24 Feb
114 Marl4 9234 Mai
4134 Mar27
244 May
0234
67
6 944Mar27
3 254
Feb28 209
7 38
Mar 2 16
25 98 Feb 21 7134
Jan
Jan
Jan
Jan 23
Jan 10
Marl4
Jan 25
Jan 25
Jan 13
Jan 28
Jan 26
"l4"'"i54 Standard Rope <fe Twine.. 13,300
34
944 98=8 974 994 Tenn. Coal, Iron & RR... 185,600 68
453^,
45
45
45 Texas Pacific Land Trust
8,900 374Jan31
14
9 Jan 25
12 4 13^8
144 I Inion Bag;<& Paper
8,b00
79
79
Do pref
78
794
Tan 10
1,700 68
3234 334
334 3334 tr. S. Cast 1. Pipe <fe Foun. 41,600 1978 Jan 3
9034 91
904 91
Do pref
11,256 794 Jan 3
150 §120 Jan 9
§126 126 126 130 United States Express...
1
79
78
79
774 78
3238 323^
3234 33-'v
32^2 34
3338
33
89
90 Hi
90
914 904 91
127 132 >126 130
•127 132
126>4 12614
I3I4
12'8 1234
1234 13
13
13=8 14 14
1334 137^
105 105 14 105 1054 10534 106
105 105
106 107
9278 93
93'4
9134 93
93
90
92 4
924 97
41-'4
4234
42 14 42=8
4234
i-i
4234 4338
421a 42^6
113 H, 11234 113
111! la 113 Hi 113
112 II314 11334 114^4
35I8 3618
34-'8 351*
3538 35 'e
35 14 35
35
36
94 'g 96 14
9438 9538
9534
95
954 9534
951a 90
351.2
3334 34
34
34
34
34
344 3378 344
lOS 108 H; 1U8 10&3g •107 109
108 108
108 108
*49
49
50
50
48
48
•454 49
474 484
»250 260 250 260
250 260 •250 260 §25042504
92
93
93
93
924 92=fe 924 9276 9378 9338
'-a
•182 183
178 181 '
182 183
180 •175 180
•192 200
*190 199
189 200 *189 200
1 87 4 200
79
93
§247
•944 954
National Lead
eop. Ga8-L.<& O. (Clue.)
403t Pressed Steel Car
Do pref
934
404
4034
Nov
71
8234
1434 J'ly
I
Continental Tobacco, pref
Do
Mar
434 Feb
39 4
!
Hock. Coal & Iron.
Consolidated Gas (N. Y.).
Col.
Mar23 68 Feb 17
Jan 25 81=8 Mario
314 Jan 25 3934 Mar27
3,951 a;914 Jan25 1004Mar21
3,800 33 4 Feb 3 37 Feb 24
200 93 Mar30 97 Feb 16
830
American Locomotive...
115
Jan 9 §250 Feb 7 §220 Feb 250 Oct
Jan 25 19 Feb 17
6 Mar 21% Nov
26,425
2,842
Do pref
DlstUlers Securit's Corp.
Federal Mining & Smelt'g
Do pref
General Electric
uternational
Paper
I
1 Do pref
International Power
Internat'l Steam Pump..
Do pref
National Biscuit
Do pref
260
3539 36
96
96
90
pref
Corn Products
4OI4 4034
2i)^
Do
Oil
654
934 934
31
97 4 98
90
89
•110^ 125^
American Cotton
•384 39
144 144 137, 14
65 4 66
a;654 654
4538
45
45
47
444 45
*100 115 •100 115 •100 112
9434
9538
944 96
944
954
184=8 185
185 186 •18541864
21=8 2278
22=8 2278
22 4 233b
774 77=8 77
774 7734 78
*91
•91
92
9234
92
9-J
•34
•34
•36
37
37
37
•83
85
85
86
85
86
60
604 Sg^^ 604 604 614
*116 121 •119 120
120 120
4278 4379
454 444 474
44
10834 109
10841084 109 109
158 1584 155 157
1574 1574
100 100 4 10041004 101 103
4334 44 4 •444 45
4414 454
IIO4IIII4 1104111
111 112
137fl
66
2914
9434
•58
56
105
pref
14
24842484 •246
211*
3II4
99I4
60
65=8 567g
Do
American Di8t.Telegrapli
American Express
94 American Grass Twine ..
104 Amer Hide & Leather
•10
46
134 I314
105
I6I4
44
•105
96I4
101
•58
60
56=8
110
20542064
185 1^185 Is
223b 23
78
78
92 14 92 14
•35
37
*85
88
2934
13 4
American Car <&
Foundrj'
35
235
50
4934 61
494
117 1174 11641164 a;115
•7
7
7
7
74
•2534 26
25=8
26
26
100»8l017g 10034 10134 10134
13=8
7,300
3,600
Uis-Cbalmers
Do pref
62
3878 394
9934 100
34=8 34=8
•32
94
§236
14
56
240,945 70
Express
62
79 14
230
84
Adams
174
•32
10
260
17
•220
5II4
Industrial &. iHiscell
•244
250
164
26 14
26 14 2634
264
103
101141021a 100 10114
121=8
I2OI4 12134 12034 1214 121=8
12134 12238
12034 121
•165 175 •165 175 •165 175 •165 175 *165 175
•984100
100 100 510038 1003t, •100 1004
100 100
I7I4
16=8 1634
17
164 164 1634 1678 1634 17
65 14 66 14
644 66
654 6534 6434 654 6434 65
141
1411*
14118 1421a 140'4 141=8 1401*142
141 1424
14
138 1384
i43'" ike" •uT'iVe" •144" iVe"" •143 145 143 145
97 14 97^8
9714
9714
9634 974
96^8 9714
97
97
30 14
3034
29=8 304
2934 30
30
29=8 30Vj
30
107 1081a 108 108
103 108
10841084 a;1074l0734
117iall8 •117 118
•116 U7ia 11741174
117 117
*205 215 •205 215 •205 215
20942094 208 210
35
96
79
Tor Pre9i«ut
Year (1904)
66-'4
5OI4
74
264
22
23
blia >-3i2
1
•93
•32
•220
•39
*17ia 13
«45ia 464
5138
50
117 1174
95 14 9534
951a 98
•42'a 4312
131a 1334
78
eOH
•92
•33
§226
95
38
234
39*3 3915
18
18
44i< 44I4
SO-ig 52 14
116 II8I4
7I4
1634
6238 a;60
60 14
•116 1204
120 •116 121
447g
4234 43 7j,
431a 45
log-. 10834 109
10641064
»154 168
101
101
45
45
lll''«112
.
5234
61a
I'^'s
61 'a
62
1
;
17
62
79
99 la
67>4
643g
250
9834
3413
131a
264
64=8
6778
•16
•60
78
lOOia
351a
714
264 *26
244
3838
'SS
1
250
39=(,
»105
.'
•244
7734
ISHj
1
5234
250
38 14
»143 146
97 19 9734
3Ui« 3OI2
»108 1081a
»118 119
»205 215
,
24 ig
631a
65<^ 6614
1411a 14214
;
27J2
39^4
102i4l027g
121 I2II4
•165 175
100 100
171^
17
'
1834
46
80
26i« 26»8
1
-^4
78«8
38«8
116
Range
lets
1
59
7I4
.
6334
667g
59
115
fYlday
March 31
Jiange Tor Year 1905
On batis o/lOO-share
6,740 57 Jan 12 664Mar21
6438 64=8
Do prof
2538 J'ne 6O34 Deo
162,680 6334 Jan 6 7238 Feb 27 41 4 Mar 6834 Nov
674 6678 6734 Southern Pacific Co
66
67 3e
1,610 11534 Jan
121 4 Feb 15 113 Sep 1194Deo
118 1181* 118 118 •118 1184 118 1184
Do pref
34 14
343,.
3418 344
34
34
344 344 Southernv.tr. cfs. stmped 17,800 3234 Jaji 25 3634 Mar 13 184 Feb 37 4 Dec
1,200 96 Jan 13 too Mar22 77 4 Jan 97 4 Deo
do
9634 9714
964 964 9638 964 96 4 97
Do pref.
98 Febll 98 4 Feb 28 90 Feb 98 Deo
96 98 •96 98 •96 98 •96 98
M. & O. stock tr. ctfs...
li',80('
3278 Jan 25 41 Marl3 204J'ne 384 Nov
37=8
3838
38
384
Pacific.
384
384
1""eia8
&
381s
37»a
582 l-.64MarI5 13434 Fet)16 115 Mar 134 Oct
•129 132
•129 132 •130 132
130 1314
hird Avenue (N. Y.)..
30i« 3038
3134
31"^ 3434
31
35
36 Toledo Railways & Light 10,400 224 Jan 13 36 MarSl 17 4 J'ne 274 Oct
39I4 39
3,200 354 Jan 18 4078Marl7 214MBy 38 Nov
39
39
39 Tol. St. L. & W. V. tr. ctfs
384 3834 39
58I4
68I4
7,432 5134 Jan 25 59=8Marl7
5734
67
57
57
574
32 Feb 574 Nov
57
Do pref. vot. tr. ctf.s
113i«114
114 115
1134114
1147ell64 Twin City Rapid Transit 12,680 105 Jan 6 1154Mar31 874 Feb rl0794 Oct
I5514 Mar
158 Mario 158 Aug 5165 Nov
Do pref
774,052 113 Jan
13778 Feb 25
1271*12878 12778 130I4 12838 129=H 129 130=8 Union Pacific
71 Mar 17 Nov
•99 100
101=8 Feb 21 a;864Feb 9? Dee
*994100
1,850 97 Jan
*98ia 99^2
994100
Do pref
214Jan
50
50
3,600
Mar30
50
49
50
SanFran
494
9
Feb 25 Deo
494
UnitRysInv'tof
47
48^2
9.955 644 Jan 16 89 MarSl 424 Apr 69 Deo
87
89
864 88I4
Do pref
83 Vj 81
837s 86
10,000 204 Jan 25 23=8 Feb 3 15 May 25 Nov
2238 2234
224 23 14 2234 2338 234 233, Wabash.
47 14
20,600 41 Jan 25 48 Feb 23 32^4 Feb 48 4 Nov
47
46 14
454 47=8 464 47
Do pref.
45
900 17=8 Jan 24 1934 Maris 144J'ly 2238 Nov
18 18^4 •18 1834 18^4 I8I4 I8I4 18V WlieeUng* Lake Erie...
•45
•45
600 444Mar24 48 Feb 1 37 J'ly 5234 Jan
•45
46
46
46
46
46
Do Istpref
•26I4 28
•26
•26
•26
28
264 Jan 9 284Marl3 21 4 J'ne 32 Nov
28
274
Do 2d pref
23 14
2278 23 4 Wisconsin Cent. v. tr. cfs.
2,845 214 Jan 3 254 Feb 16
16 J'ne 25 Nov
234 234 23
231a 2334
61Sg
5034 5134
514 514 614 514
Do pref. vot. tr. ctfs. 3,786 45 Jan 13 544 Feb 17 37 J'ne 4933 Nov
61
64I4
•56»4
JlT-a 17>5
H-lSa 441Q
47 19 50 14
.
26
26
le
17 14
60 ig
79
99
100 100^
34
341a 36at
•92
95
95
32 38 •33
•228
•228 235
8
8
8
10
lOafe
'lO
'
2534
e3ia
15=8
621a 63ie
f>\
^a^^
Thursday
March 30
the
I
\t>%
"4
,
March 29
•15
7!'
79»8
38I4 33»,
1
i3i»8
99 la 99 li
441a 46
23
61% 62
244 250
.
4;
12834'
45 "a 45*4
27 4
•
3934
isoai \i\'>\
18S(,
Wednesday
Sales 0)
STOCK
:
291a
381a
\ViH\\<
*2i)i2
-
34'8 35 1«
97 13 9734
*Q6
99
38I4 39
11234 11434
100 100
42 12 4234
;
26 "a 2634
64 "h 6434
67 »8 69 14
118^211815
Tuesday
March 28
STOCKS
NKW YORK
1219
23 7^ Feb 23
87 4 Feb 23
344Mar31
Mar31
1184 Feb 24
130 Feb23
3 Jan 3
10534
6
May
Mar
May
Mar
May
May
Apr
87 Nor
59 4 Nov
117 Nov
264 Oct
994 Deo
Nor
164
Nor
Nor
1124De«
107
65
444 Oct
Deo
92
244
35
94
Deo
184 Nor
73 4 Nor
2978 Deo:
98 Deoi
7434 Jan
314 Jan ';538Nor
77 Jan 105 Deo
37
14 '4
Mar 5 Nor
May 774 Nor
May 394 Nor
3 78 Aug 134 Nor
34
994Mar31
464Mar28
l44Mar2o
79 4Mar31
31=8
524Feb24
18 4 Sep
25
45 Feb 75 4 Nor
34 Mar27
6 4 May 204 Deo
91 4 Mar 28 40 Mar 8138 De«
134 Fob 8 100 Feb J 128 Nor
sll
64 May 2034 Deo
Mar 3 14=8 Jan 16
10078 Jan 10 109 4Mar3U 75=8 Jan 1064De»
77 Jan 4 98 4 Mar 10 43 J'ly 84 4 Nor
3334 Jan 3 444 Feb 20
104 Feb 344 Deo-,
9838 Jan 6 115 Febl8 41 Jan 100 De*
838 May 33 4 Deo
284 Jan 25 3739 Marl 3
974 Maris 514 May 95=8 Deo
91 4 Jan
324 Jan 25 39 Jan 3 2234 J'ne 44 4 Deo
105 Jan 23 110 Feb20 97=8 Apr 116 Nor
'>
40
150 235
2,180 92
600 176
190
Jan 7
Jan 3
Jan 17
Jan 25
Feb 2 a
44
Nor
Feb21 §200 J'ne 250 Anc
954 Jan 4 85 May 94 4 Deo
1834 Jan 16 153 Mav 185 Deo'
1934Janl7 180 Ane 1984 Nor
260
BANKS AND TRUST COMPANIES— BROKERS' QUOTATIONS
Banks
Bid
Pnited
90
Wa8h.H'ht8li 230
WestSideTl.. 575
Jforkvilleli .. 400
Ask
100
625
Banks
Bid
Ask
Trust Cos.
Bid
BEOOKLYN
MecUanicsT] . 325
Merchants'.. 130
Nassau
Nat City
North SideTi
360
CITY
Banker.9' Tr. 475
Bowl'gGreen 215
BroadwayTr. 165
C'lK'tyB&Tr 686
Central 'lY'st 2215
City Trust... 365
Colonial
385
Commonw'th 100
N. T.
Ask
Trust Co's
Bid
Ask
Trust Co's
FarmLoATr
1470
675
690
205
yso
540
490
990
100
640
900
205
1060
1490
590
705
New York Tr
Fifth Ave Tr
Guaranty Tr
Guardian Tr
Bid
720
North Amer. 295
Real Est Tr't 325
StandardTr't 390
TitleGn <feTr t661
Tr Co of Am. 515
Union Trust 1410
USMtg&Tr 510
Unit States 1500
VanN'denTr 306
Washington 440
Windsor.... 190
Ask
305
Trust Co's
Bid \A»k
BBOOBXTH
410
Brooklyn Tr 410 435
390
Knick'rb'k'r
Flatbush
210
220
290 300
536"
BBOOKLTN
Lincoln Tr...
Franklin
330
175
271 300
Manhattan
Hamilton
People'sll
..
505
340
700
290
BoroughH
120 135
Mercantile ..
525
Kings Co
ProspectPki; 135
475
Broadwayll.. 300
17th WardTl. 155
Merchants'..
160
1530 LIslLATr. 295 310
\
BrookJynH . 130 140
Sprague
Metropolitan
Nassau
230
395
655
2654
•m
Don'yI&BB 145
MortonTrust
Siuyvesantl, 190
460
People's
105
925
331
l^al
375
UnionH
Mut. Alliance
215
WUIiamsb'g. 230 240*;
200 220
Empire
240
tianufactrs' 365
Wallaboutll
N Y LlfecfcTr
1080
160
Equitable Tr 640 660
• Bid and asked prices; no sales on thia day.
c tSx aivulead ami rights.
§ Less than 100 shares.
T Ex ne^nis.
/
t S»le at Stock Exchange or at auction this week.
[
Ex stock dividend. < Trust Co. cercitloates. 'j UanKs marked with a paragraph (H) are 3tat« bank*
.
j
Nor
Nor
.
'
New York
Exchange—Bond
Stock
BONDS
March 31
Last Sale
Ask
104 "i 104 'i, lOli-jMar'O.i
105 195 Si 1 05 Mar'Oo
107 J'ue'Oi'
103 4
104>iiDec'04
104=8 105
104'-2Peb'05
105^4
10534
1066s 106
13206 133
132 h Mar'05
Q-J
tr S48 registered
1925 Q-F
192i) Q-F
U S 48 coupon
Philippine islands 4s. 1914-34 Q-F
I32agl33
108 "a
stprl'g. 1911
full
A-O 103
Sale
100 '8 Sale
105 "« Sale
104^6 Sale
paid
Bepubof Cuba 5s eiten debt.. M-S
^' us ol \x9\i c^-J
or Mexico s
U
1954
Speyer& Co ctf s 4s
.•>
t
tiese
are pr
State Securities
Alabama
class
B68
Class
Class
A 4 to 5
101 1^
IOII3
99 106
190U J.J
1900 J.J
190t; J-J
192U J-J
1924 F-A
C 48
Currency fundiiij: 4s
Dlst of Oolnnibla 3-658
Louisiana new cousol 4s.. 1914 J-J
North Carolina conaol 48.191U J-J
1919 A-O
68
193;-!
So CaroUna 4 ha 20-40
Xenn new settlement 3s. .1913
llS^a.
103 Sj.
102
131
,
.
9618 96*4
94
Small
96J« gT-a
Virginia fund debt 2-3s...l991
68 deferred Brown Bros ctfs.
Uoilroatl
Alabama Cent See So Ky
laba Midi Hee At CoastXlne
Albany <& Susq Hee Del & Hud
Allegheny Valley <S'e«Penn RK
Alleg & West Hee BvJt B & P
M996
Ann Arbor Ist g 48
Atch T & S Fe gen g 48... 1995
1995
Kegistered
Adjustment g 48
ftl995
Registered
/il995
10
104 »8 Sale
9612 Sale
97
Stamped
Debentures 48 Series D.1906 F-A
99^8
190i F-A
1910 F-A
1911
FA
1913 FA
East Okla Div Ist g 4s.. 1928 M S
Atl Knox& Nor 1st g58..194l> J-D
Atlantic Coast Ist g 48./tl952 M-S
Charles & Sav 1st g 78.. 193b J-J
K
ait
W
142
130 Hi
&
II514
9816
115^
W
98
See Sou Pacitic
Ohio priorig3'<j8.1925
95 1^ Sale
M925
Registered
Gold 4s
Registered
Conv deb 4s
/il948
PJun<fi;MDivlstg3»38l925 M-N
W
M&
&
&
N
&
^:i
M-S
A-O
J-J
Ist
C
gu g
PW
96
96 Not'04
lU4'a 105
103 Mar'05
109 Mar'05
93i8Mar'U5
951a
941a
121
122
115 Hi 115
114 107
92
93
Mar'Oo
121
121
US'-,
J'Be'04
32 113
1
1
9 "li
86
3»
.'VIar'04
1191a Feb'05
103 Apr'97
126 12 Jan '05
J-J
98
J-lJ
102
78
.
12U>2l23
113>4.
1927 J-li
1908 J-J
1913 M-b
1913 M-S
Mar'05
99
89
..
S2
126
lliO
lU2ia
102
i-i
21
la
iDaOgSale 103 "a 104
106 luGHi 10514 IO6I4
107 J'ly*04
Canada South IstSs
'2d OS
Registered
Carb & Shawn See 111 Cent
Carolina Cent <Se« Scab Air L
Carthage <fc Ad See N V C <fc U
15
Mar'Oo
120'aMar'Oo
112 "a Sep '04
1
80
'22
CedRIaF&N SeeBCB&K
Cen Branch U Plstg4s...l948 J-D
Cen Branch liy See Mo Pac
CenRll<fc Bof Gacolg58l937 M-N
Cent of Ga RU 1st g 5s..?>1945 F-A
Consol gold 08
1945 M-N
Registered
1st pref income g 58
2d pret income g 5s
3d pref Hicoiiie g os
94:^.
"p A a
1
Id
'8
115
1945 .M-H
}3l945 Oct
92
74 •'6 Half
59 's sale
plU45 uct
/*l'J4u
103'% 1051a
IO418
105 1104
911a 931*
103
Mar'05
Sep '04
98
100
100 "a....
115
124 125
126 "2
J-D
M
112
10034
92'e
.u-s
F-A
Ist 58.. ..1919
110
921a
A-O
J-J
96
D
1910
Mineral PointDiv58
1910
So Minn Div 1st 68
SonthwestDivl8t6s....l909
Wis JSs Minn Div g 5s. ...1921
Feb '05
luO'tg
II6I2
CRIF<fcN Wl8tguos.l921 A-O
L,
Cent Pacific See So Pacific Co
Chas & Sav See Atl Coast Line
dies & Ohio g 6s ser A.. A 1908
101T» IO318 543 94ial03i2
Gold 68
al911
lOl", 1756 90i«101'4
99''s
Ist consol g 5s
1939
10434
loo's 06 IO314 108
1939
Registered
(•lis Mar'05
tlOO lOlig
General gold4ias
1992
95 14 "175 9334 9514
947,
1992
Kegistered
ices
n the
0/ $o<o &.
Craig Valley Ist g 5s.... 1940
R<fe A Div l8tcong48..1989
101 4 Jan '05
101 la 101 la
2d consol g4s
1989
109 '4 Oct '00
Warm Spr val lat g 5s. .1941
l02'aMar'02
Greenbrier Ry 1st gu g 4s '40
111 Mar'02
Chic <fe Alt RK ret g 38. ..1949
11934 Oct '04
Kailway Ist lien 3ias...l950
105H,Dec'04
1950
Registered
103>4Dec'04
Ohio B & Q— Ch & la D 5s 1905
136»9J'ly'01
Denver Div 48
1922
120 Mar'Ol'
Illinois Div 34a
1949
96 Mar'05
96
9614
1949
Registered
9512 Dec '04
1949
Gold 48
97 1»
97 Mar'05
97
Iowa Div sink fund 58. .1919
12 Mar'05
12
IS's
Sinkingfund4s
1919
Nebraska Extension 48.1927
1927
Registered
1921
Southwestern Div 4s
Joint bonds See Great North
1913
Debenture 5s
H.an <& St Jos consol 68. .1911
Chic & E 111 l8t 8 f cur 6S.1907
3 961a 100 12
100
100 Is
Ist consol g Os
1934
104 1^ 1046f, 153 10336 105
1937
General consol Ist 5s
1021a Mar'O.'i
10241024
1937
Registered
963, 18 94=B 9'|34
96^2
Chic '& Ind C Ky 1st 5s.l930
934 973s Chicago & Erie See Erie
973s Feb '05
9634
98 94<% 98
97
Chic In & Lonisv ref 68...1947
99 Aug'04
Refunding goldSs
1947
9934 Oct '04
Lonisv N A «& Ch Ist 68.1910
99I2 Nov'04
Chic Mil & St Paul con 7s 1905
99 14 Dec '04
1914
Terminal gold 5s
9913 Jan '05
991^ 994
General g 4s series A..el989
98 "a Nov'04
el989
Registered
97 Oct '04
General g 3 48 series B.el989
99 14 Jan '05
9914 99",
1921
ChiCife LSuDivg53
Nov'04
112>a
Chic & Mo Riv Div 6s. ..1926
10034
101 •« 37 '10634 io34
Chic & Pac Div 6s
1910
1921
ChiCife
Istg 58
125i8Nov'03
1916
Dak& GtSogSs
lI2»8Jan'04
1924
Far & Sou assu g 68
114'4 0ct '04
1910
Hast & D Div Ist 78
93 J'ly'04
Ist 6s
1910
9734 Oct '04
1908
I & D Exten 1st 7s
Jan '05
107 Sj
109 1*
124 127
98
A-O
1934 A-O
Registered
133
133
109% 110
H
&
M & St
I05S1057g
132 4 133
90 14 J'ly 'O'z
105 ^2 Mar'u4
108 Sep '04
/i.l925
1st gu g 58. .1919
CenOliio R Ist cg4'2S..1930
Pitts Clev & Tol Ist g 68 1922
Pitta & West 1st g 4s... 191'
J P
Co certfs
Bat Creek & a Hee Mich Cent
Beech Creek See
Y C cfe
Bellev <fe Car See lUinois Cent
Bkiyn
Moutauk See Long 1
Bruns
West See Atl Coast L,
Buffalo
y & Erie See Erie
Buffalo R
P gen g 68...193
A11& West Istg 48 gu.. 1998
Mah
1st
gu goa
1943
C1&
Roch & Pitts Ist g 68. ..1921
Consol let g 6s
1922
Buffalo <fc Southwest See Erie
Butt
Susq iHt i-ef g 48.tZ1951
Bur Cedar R cfc No Ist 6s. 1906
Con 1st cfe col trustgSs.. 1934
10412 105 4
Oct
92
16
711a
74-<4
409
56
60
141
1154
90
93
07
521a
7434
62 4
Chic
K
lli
l"& Pac
iiii
Nassau Elec gu g 48
City
&
1
A-O
A-O
M-N
108
110
IVI-N
110
95
J-J
J-J
103 "4 Sale
97 102
M-S
M-N
A-O
1094
96
86
82
J'ne'99
136 '4
134
136
131
1134
1134
134
"^4
10214
108i« Mar'05
1064
106
103
113
1071a
,
Sale
Sale
HI
Z'i
113
107
984
113mi3'4
97
8438
108
86»4
804 83
102
101
10
96% 97%
96% 96%
Aug'04
110i4Jan'o5
A-O UOI4
103=8 Mar'05
A-O loai^
M-N 1081^108 >« 108
108
M-N 107
1064 Feb '05
10034 Feb'04
M-S 100
M-N
M-S
J-D
A-O
113
16 lii\«%1034
10534
ifl
110
1033k
8334 Apr
10434 Apr'OO
10134iiar'05
96^4
96 'r
961s Feb '05
97
111
97 Mar'05
113i4Feb'05
95 4 Sep '04
86
8614
81 ''e
82 14
'02
102
108%
II841194
i'08 10534
Apr'Ol
Mar'uS
10234
,
110% 110%
103=6 103=8
106% 108%
1064106%
10734 Mar'05
11134 Mai '05
107 108
1113,112
105
J-J
120
I06i«Mar'u6
138
138
1 20^4 Mar'05
II9I9 Mar'Oo
120
120
120
120
J-J
J-J
J-J
J-J
J-J
J-J
1361a 135 Mar'05
115 Feb'Oo
lOyia
1091a Feb'05
185 187 Mai'05
11034 iii», llOia Feb'Oo
113 '6 Mar'05
1124
UO'a
109 4J'ne'04
134
115
137
.\1-N
,
112
106 14
138 Sale
1201a
M-N
J
J
J-J
J.J
J-J
J-J
J-J
J-J
J-J
J.J
J-J
J-J
J-J
J-J
J-J
J-J
J-D
J-D
(J-F
F-A
F-A
M-N
Q-F
A-O
A-O
A-O
A-O
il-N
M-N
A-O
A-O
M-N
M-N
FA
M-S
M-S
M-8
M-N
M-N
FA
98% Jam
98
1144
106H
113
116
Ul^a
117
12818
10434 1064
1184
,
103 14
loo's
10519
104
iioi«
Aug'04
110%111
109% 109%
116% 115%
llS'sMat'Oo
IIOiaDec'04
116% Jan '05
128I4 Mar'05
I16%I16%
128 129%
1044 Dec '04
99% 101
117
113
117
113
1044106%
il2%il3%
11514 Nov'04
1054 May'04
104% Mar'05
;
1304
IIOI4
104% 107
110% 110%
129% 130
110^,
Mar'u5
II914 Nov'04
130
120
,
142 4l''eb'02
13 14 Jan '05
103 Apr'04
109 Sep '03
1231a Mar'Oo
101
106=8 Sale
,
"9778 Sale
100=8
106=8
Jan '03
814
83 4 612
704 Sep '04
81% 83%
98
Sep
'04
97
J'ly*04
973b
96
93
94
90
May'04
May'04
9634
,
83 4 Sale
4126
97""99%
14
96 14
964
122
72 io4% xoi"
338
97 12
101
971*,
1314131%
Nov-04
124
IO6I4
107
Dec '114
May'04
9434 Sale
94
11034 115
9434
Il'-i
Mar'05
1121^115
103^6 J an '04
110
11034
98
J-J
A-O
11238
104 4 Nov'04
...
1234
1224
J-J
1174
112
,
J-J
J-J
Al-S
111=8
116
11434 117
102=8 May'04
101
101
103 Nov'98
119
116 Dec '04
116
117 Feb'Oo
113 115i< 113 Feb '05
1104115 107 Mar'04
106=8107 106 Mar'Oo
104
104 Mar'04
I13i«
11314 Feb'05
Ill
IO834 Jan '04
119
1 19 =s .Mar'05
J-J
J-J
M-N
110
14 \iz<^ lii'
10014 101
106
1913
<fc G gea g 5s .oI919
Consol gold 5a
1952
DesM & Ft Dlst 2 4s. .1905
Keok & DesM Ist 58
1923
1194119%
111
109 4 Feb '05
M-N
M N
98% 98%
HI
10934
I32I4
AO
178 187
109341101,
112 113»8
1073b Oct '04
Ill
132
1151a
10941091a
'05
110^6 111 Og 111=8
111=8
117 1174 117 4 Mar'05
112 113 112 Mar'Oo
I37iaJ'lv'91t
1321a 133
II514II7 115 4 Mar'Oo
1064
106 Aug'04
185 183=8 18J=8
J-J
M-N
M-N
M-N
M-N
M-N
1183^ 121
1194 U9ia
ll64Apr'0o
il9iaFeb05
1194
M-S
FA
106%
1334138
13G
II6I4
4
10334 104 4
10134 102 «^
Mar'06
11938
1191a
117 4 Oct '04
13634
133141354
11234 113
1044 Mar'05
,
9634
96
Feb'04
I0714 Anp'04
118
10614 Sale
S iVl-N
Choc Ok
Feb '05
95
104
102
HI Feb '05
112^1
J-J
J-J
F-A
F-A
J-J
J-J
J.J
Since
^iQ January 1
SaU
High Ao Low Jiigh
Low
4 Sale
J-J
2(J02
Keiristored
Coll trust gold 5s
119
,
M-S
M-S
48II2002 M-N
iWlSCEKLANEOllS BONUS—Continue*! on Next
Street Itailtvay
Brooklyn Rap 'l-r g 5s
1945
Ist refund conv g 4s
^002
BkCity Istcon 58.1916, 1941
Bk Q Co <fc S con gu g 5s. 1941
Bklyu Un El Istg 4-58. 190o
KingHCoKl istg 48
1949
Stamped guar 4s
1949
Last
Am
94
9314
100^4 Sale
9 ^"8 Sale
P L E <fc
Va Sys ref 4sl941 MM
Southw Div 1st gSHiS... 1925 J-J
MoDon Riv
105 la
Rang«
Weelc's
Range or
Friday
March 31
Bid
Central ol {jl&—(Continued)
Ask.
Chatt Div purmon g 4S.195I J-D
944
Mac <fc Nor Div Ist g 68.1946 J-J 110
Mid Oa A Atl Div 5s
1947 J-J 112»8
Mobile Div 1st g os
1940 J-J lllia
Jentof N J gen'lgold 5s. 1987 J-J 136 -4 Sale
134 134»B
Registered
A1987
11334
Dock (& Imp gu 5s.. 1921
Le & H nd R gen gu g 58 1920 J-J 105 la
Leh cfc Wilks B Coal 5s. .1912 M-N 103 '4
Con ext guar 44s
#1910 Q-M 102 -B 10238
N Y & Long Br gen g 48 1941 M-S 104
112
1911
N
Higli
MU & No 1st L 6s.. ..1910
1913
Ist consol 6s
1915
Chic ANorthw cons 7s
1886-1926
Extension 48
9914IOI
Registered
1886-1926
1987
92
934
General gold 34s
»1987
Registered
Sinking fund 6s. ..1879-1929
Regisaered
1879-1929
Stnkmg fund 6s. ..1879-1929
Registered
1879-1929
98 14
93
Debenture 68
1909
Registered
1909
Debenture 63
1921
Registered
1921
Sinking fund deb 58
1933
Registered
1933
DesMo&Minn Ist 78. .1907
Milwife Madison Ist 68. .1905
1191^1194
North iUinois 1st 58
1910
Ott C F & St Paul Ist 5s 1909
Winona cfe St Pel 2d 7s. .1907
12641264
12434 126
MU L S <fc West l8t g 6s 1921
Ext & Imp sfund g 58 1929
99
Aslilaud Div Ist g 63..19',i5
98
14
Mich Div IstgOs
1924
10141024
Convertible deb 5s
1907
12041214
Incomes
1911
Chic Rock l8l <& Pac 6a. ..1917
Registered
1917
General gold 4s
1988
1024104
198!-;
Registered
ICSOfe 109
l8t<fe refunding g 4s
1934
Coll trust Series tj> 4s .. 1905
H4s
1910
Mis
1915
N48
1910
O 48
1917
94
94
104 '6 Sale
H)-Zh
/a948
Registered
1
le 1043410434
I05I4 1053s
101i2l04'-^
104
Bnce
STOCK EXCHANGE
Week E.VDrNo March 31
N. T.
Lacrosse*
&NW
«fc
99
101^ Sale
SU Sp Oca <& G gu K 48 1918 J-J
Atlantic & Uanv Hee South Ry
Atlantic & Yadk 6e« Soutli Ky
K
983b
*98i4
112^4
Ist gold 68. .1934 A-O
Ist gold 5s
1934 A-O
Ala Mid Ist gu gold os 192» M-N
Brans
1st gu g 48 1938 J-J
Austin
Bale
9734
FA
1907
1908 F-.\
H
SavFA
....
IOOI2
Q-J
A-O
A-O
Nov
Nov
A1995 M-a
Series E
Series F
Series G
Series
Series 1
Series
So Low
Mar'05
Mar'05
133
110
Government
Foreifni
Jiigh
104\
lOSVilOSVi lU5SMar()5
;vl90
Japanese Govt Gs
2d series 68 ctls
LoxB
IO4S4
104'4 105
I»A(;ES
BUNDS
Sange
Since
5«
33* January
'
U S 28 consul registered. dl930 Q-J
dl93U Q.J
U 8 23COD801 coupoD
/clUlb (i-F
U S 38 reg:i8terea
fcl918 Q-F
US 38 coupon
Q-F
bonds.
.fcl91>^
U S 38 reg small
U S 38 cou small bonds.. /cl918 Q-F
/il90 y.J
U S 48 registered
V S 48 coupon
WeeVs
Range or
Bid
Government
U. S.
Friday
Price
STOCK EXCHANGE
Wees Entjctq Maech 31
N. T.
Weekly and Yearly
Record, Friday
<>OCrPYlN« FOUK
98
Mar'05
93%
110
10
98
9739
11534
98
II034 llu34
1'iikc.
Street Itailwiiy
A-O •111%
J-J
J-J
M-N
F-A
KA
FA
1951 J-J
s Ky Halt Ist g 58. 19.^2 J-D
Conn Ky<fe Llstife ref g44.s'ol J.J
Den Cou Tr Co 1st g 58... 193:: A-O
Den Tram Co con g 6s. .1910 J.J
Met Ky Co Ist gug6s..l911 J-.J
Det United Ist con g 4%8.193-' J-J
XiOnls Ky Co Istcon g5H..19:io J-J
M«t St Ky gen col tr g 58.1997 FA
Bway<Si7thAvl8tcg5s 194:1 J-D
Ccl&UlhAvlslgu g OH. 199:1 M-S
*No prleo Friday; latesl price tuis
Met St Ky—fCon^Ref g 482002
Lex Av Jfe P F Islgu K oa 1993
Third Ave R K cou gu 48 2000
Third Ave Ky Istg 58. .1937
110 1 13 '4 Met W S Kl (Chic) Istg 48. 1938
92
93 4 MU El Ky & L 30-yr g 58.192(:
92% 96% Minn St Ky 1st con g 5«.. 1919
St Jo Ky Lt 11. tP Istg 58.1937
91
87
St Paul City Call con g 58.1937
99 4 b'ndorgroiiiid Eloc Kys of I/on
98
112
1 108 4 n234
So^e-Sale
87 444 83% 87
108% 10934 109% Nov'04
1064 100 Feb'05
106 106
112
86
110=8 sale
924
'
IM
92
110=8
92
92% 93
92%
9'^%
89
88
89
Sale
99 4 Feb '06
96 J'ne'OO
99 4.
1044.
•95
114
118
121
weoK.
953»
953b Mar'O.-)
109 Mai'9«
1153.
119
1144
11«4
llO-'H)
a Due Jan
116
13 114
95
4120^
don Prolli hharing o.s...l90«
Union Kl (Clilc) Istg us.. 194:",
United KKs San Frsl 48.1927
United Kys St L Iwt g 48.1934
W ChiC St 40-yr cons g 08.1930
03%
93% Sale 93%
1204 1204
117%
96'4
96% Sale 96
118% 118%
118%
95 Fob '06
96%, 96
10734
.
102
113
,
'100
.
90% 94%
1204
947, 97%
1164118%
117
90
96
97
100%
106 Oct '99
106 4 Nov'04
.
110
J'ly '04
100
1(K1%
109% Dec '99
01
90%
Sale
89
88
89
,
99
01
89
Dco'97
48 87% 91
1
85% 89
Gas and Electric liiiiht
117% 1204
119»H 12134 Atlanta G L Co Istg 58...1947 J-D
1184 5
IJ04 6
d Dae Apr
«
Uue
.duy
^/Duaj'ua A Duo
J'ly
/c
Due Aug oDue oot
|>
Due Nor <OpUon •«!•
Apr.
Bond Record
1905.]
1,
stock exchange
Wkkk endinq March 31
Oliic
St Li See Atcli T & Sa Fe
Chic St L & N O See III Cent
Chic St L & Pitts Hee Peiin Co
Chic St P M & () con 6s...l'.':5(>
Wee If s
Bid
<fe
Cons 6s rerlnceu
to 3k.s.l'.i3ii
J-D
J-D
Chicago Ter Trans g 48... 194'. J-J
Oln H <fe D consol s I 78. ..1905
1937
2d gold 4'<2S
I Ist jru K58...1941
Gin
4.''.195y
Ist sra k
Cin I &
C I St L «S; r i'«« C C C <fe St 1,
Cin S ife C /S<!« C C C St L
Olearheld & Mali S«'< B K <fe P
Clev Cin C & St L gen s 4s 1993
193".'
Cairo Oiv 1st frolri 4s
ClnW& M DiTlstg 48.1991
St LDlv Istcol tr ?48..199()
1990
Rejfistered
Snr * Col Div Ist g 48. .1940
Val Div 1st g 4s. ..1940
C I St I^ <fc C consol 68.. 192(1
,...tel93b
l8t gold 4s
A;193(;
Registered
Cin S <fe CI con Ist g 5s. .192b
1914
I consol 78
1914
CoJisol sink fund 73
General consol gold 6s. 1934
Beaistered
1934
Ind Bl &
Ist pref 48.1940
1st pf 5s...<a938
O Ind &
Peo <fe East Ist con 4s. ..1940
1990
Income 4s
CI Lor & Wh con Ist g 58.1933
Clev & Marietta See tenn RK
Clev <fe Mahon Val sr 58. ..193b
Clev & Pitta See Penn Co
Col Midland Ist g 4s
1947
Colorado & Son Ist g48...192ti
Coluni & Greenv Sc4 So Ky
Col <fe Hock Val See Hock Va
Col Conn* Term .Se« N &
Conn & Pas Rivs 1st g 4s. 1943
See C
<fe St P
<fc Gt So
D&
W
WW
CCC&
W
W
W
Dak
alia* &
Waco
M
See M K &
W Ist 6s. ..1921
Lack<fe
1923
1923
Construction 5s
Term & improve 4s
&NY
Syr Bing
Low
jltk
Miyh
A-O
Ci-i)
137
94 14.
135
131
125
,
13714
.
93
133
Ist 78..190()
Warren 1 St ret gu g 3 '-as. 2000
Del & Hud 1st Pa Div 78.1917
95
113
'g
137 14
10 133'8l38
1251a Feh'Oo
97
97
94
95
115 Feb '05
Sale
125
.S(U4
,
S43g
115
125 Hi
99
97 14
116
A-O
lOCtz
J-J
98
117
98
r,/!-N
J-J
j-r>
Jj
1041a Dec'03
113 Oct '00
1171a
1171a
98-'4
98^4 9334
119
10234
10234
10034 Feb '05
10038 Mar'05
1023*
IOOI4
J-J
100
M-N
M-N
M-S
10234 3aJe
J-J
M-N
Q-P
Q-F
J-J
J-D
J-D
J-J
J-J
97
100
Jan '05
Dec'04
134I3.
Eeb'05
FA
9934
99 «8
Sale
8I34
112>a
7514
8aie
93 "a
99 »t
84 625
ISOia
1301a
I2914
111^4
103 Ha 105
103\ Mar'05
104.'^.
Mar'05
Feb '03
13334 Mar'04
149 Aug'Ol
104 14 Dec'04
106 ig 106 1»
142^
1421a Mai '05
A-O 10734
J-D
J-D
J-D
WIS
.^-0
134
^
9334 100
84
7334
77
90 14 941a
107
102
13438.
J-J
J-J
106
.
lOlH
101
IOII4
108^4 10834 108
109 i-i 10934
"9 9 3^ Sale
9938
93
984100
944
9934
Mar'05
94
d7
937,
lOlM
Feb '05
Feb '05
89
Jaw '02
104
Sep
110
98
100 Sep '04
96^8
97
84
8 134 Mar'05
921a 93 'v 93 14 Mar'o.')
116 117 1-2 117 Not'04
101
95
70
90
llih.
103
10534
1
105g Mar'05
109
111»8
105
1074
'04
IOOI4 Apr'04
.
jSrov'04
113 4 Mar'OO
Aug'04
94 Jlar'ox
9914 Oct 'o;,
70 Oct '04
10738 107 4
102 Oct '01
100 4103 4 102
107 «4....
105 ....
10541064 1054
1054 13 1044106
Apr '04
101%....
101
li'5
1064 Mar'o:
....
94%....
109 ....
94%
814.
Nov'04
95 14.
96
Mar'05
1014 Oct
.May'y.i
Jaii '05
100
...
9434
947i
123
86
85
105=8
10534
954 96
'99
Nov'OO
Nov'04
12441264
124 4 Apr '04
90
Nov'98
125 4
123
95
125
Feb '05
102
1234125
11934 Mar'04
.
93% M»y'04
.
103 14 103
Nov'04
109 14
106
Mar'04
107'4
1074Dec'02
9934
100
1224
101
78
Sale
Sale
Mar'05
1224
1224
101
78
lOl",
78
114411538 11538 Mar'05
864 85 4 Mar'05
Kal A & G R See L S & M S
an & Mich See Tol & O
K C Pt S A .M See St L S F
K C & M R B See St L & S F
Kan C & PaciUc See M K & T
964
8:>4"S6""
11041104
1104 Jan '05
72% Sale
&
9938 100
2 121
1224
25 100 103 14
4 703a 81
1144 116
854 88
96
Si
Ohio
108 -a
1071-2
J'ne'04
11334 J'ly'04
Jan
130 la
101
la
10741074
11741174
943« Sale
941a
,
110
9434
105
109
109
126 Hi Mar'05
110 Mar'05
123 la MaT'05
105 Feb '05
1354
I36I4 Mar'(i5
12634
105
1231a 124
1161a1120
112 118
117
115
4!
42
111
Jan '05
Mar'05
.
25 100
10334
47 "9'i" "934
54
20
^414 974
9534 111
1264 1264
110
105
1^14123 4
105
105
13434
1364
1093, Dec'04
109'e Jan '05
11838.
114
1941
North Ohio Isi gu g 5a. .1945
\j Slio cfc Mich S
See N Y Cent
Lel:igh Val (Pa) coll g 58.1997
120
109«8
1184 Mar'05
114 4Mar'or
117411934
Feb'05
120
1014.-.
1940
Isl gu g58.1941
V Ter Ry
1941
V Coal Co 1st gu g 5s.l933
& N Y Ist guar g 48. .1945
1194....
1104....
113 ....
97 4....
1144
4120
112=8
117
109% Mar'05
1084 109 =»
Jan '04
119% Jan '05
1194119%
110%1114 lli4Mar'0.^
Kegi.stered
1945
Istglstpf 6S.1914
Gold guar 5s
1914
EIC&N
Leh
Leh
117 117
II4I4II6
io9"' ii'i"
11741174
109'8 109''b
Hud R
10S4.
1064.
N
See Cent of
J
<fe Wilkesb See Cent of N J
Leroy & Caney Val See Mo P
Long Dock See Erie
Long Isl'd— Istcon g58.A1931
1st consol gold 48
/il93]
General gold 4s
1938
Ferry gold 448
1922
Gold 4s
1932
Unified gold 4s
1949
Debenture gold 58
1934
Guar ref gold 48
1949
<fc
Bklyn
N
N
Dec '('4
Mai'O.'i
1171a Jan '05
11114
137
118 J'ly '04
1131a Nov'03
117
1161a 116
104
110
118
133
Nov'04
88
108
1014103
Aug'03
130
754
72
Ry
2d eold 5s
Leh
Leh
40
11041114
105
109
J 08
99
4 Oct
'99
Dec'04
Jan
99" "99"
'0
Registered
'0."
Sale 101 la 102
I0012 981a Jan '04
93 14
Sale
93
See So
73
Oct '00
P
Lake Erie* Wist g 5s.. 1937
Leh
114
I c&
Knoxville
11741174
117i8Jan'05
10834 112
11334
R
N
97
Ke!n.stered
1181*.
<fe
72%
63
11141144 Leh ValN Y Ist gug 448.1940
1141a Mar'05
IIOI4II74 117 4 Feb'05
96
9914001
1014
'.I
10ll4l01-'4
105
105
'04
1004103
10134
110 J'ne'04
10134
10134
101''4
11314
10134 Sale
101410334
107
10338
1911
104% 105'4Mar'03
*116
Y&RBBlstcong5sl93b
Ist g 58
1927
1
Mar' 02
112'4
112
107
109
106
10534 Feb '05
12U34
121
Mar'o5
119
120
lo3
1194 Feb'05
117
13 102
1094
NorShB 1st con ggu5sol9H2
Louisiana & Ark Isl g 58. 92
l.,oui8V & Nashv gen g 68.1930
Gold 5s
1937
Unilied golil 48
1940
Kesnstered
1940
Coil trust gold 6s
1931
6-20-yr col tr deed g 48.1923
K H & Nash 1st g 6s
1919
oil
10134 Mar'05
105 Jan'O.-
1014
V B<feM
ltO.M>.'S—(Joiitiniiml
1174 117
1004
& Mont l8tg68..1911
1st 58
10e4NoT'04
Saic
4 Sep
103
'04
Nov'04
103 4
1044105%
101% J'ne'04
114% Jan '05
1004 100 Mar'05
114=8
1144 Jan '05
4
121
119
104
4
114% 114%
98 4100%
11441144
-Next i'a«e.
(inn niid i-^lcctric l^igbt
116»8ll7% 1164
Detroit City
101 4 Sale
1923 J-J
FA
72
183
Sale
Sale
Ed tl 111 Bkn See K Co E L& P
Ed E 111 See N YG<feELH<fcP
Erj G LS Y Isl con g 58. .1932 M-S
111
Eq G
I<uel See P G <fe C Co
lxafi<& Klec BergCoc g58.1949 J-D
72
182
1164
72
183%
1014
1014
105
J'ue'U3
112
Nov'03
1104117
73
70
174 41874
1024
100
F-A
4 Oct
10734
107 4.
A-O
A-O 108
1997 A-O 126
89
4
91^4
Dec '00
109 4 Feb'05
100 Oct '04
NYGELH&Pg
5S...194.S J
Purchase money 48. ..1949 F A
g
Ed El
III
1st
conv g
5s. .1910
M
S
Ist consol gold 5s
1995 J J
NY<feQEl L<&Pl8t Cong 531930 F A
Rich Gas Ist g 5s. 1921 M N
Peo Gas <k C ist con g 68.1943 A
Refunding goht 5.s
1947 .\I S
'0]
894Mar'Oo
FA
MN
61
Lac Gas L of St L Ist g 58.el919 Q F
Milwaukee Gas L Ist 4s.. 1927 M N
Mnt Fuel Gas Co See Peoj) Ga»
NY&
<fc
Purchase money 6s
1014
09
9841014
105
105
113
Uinois Central Ist g 48. .1951
Registered
1951
Ist gold 348
1951
Registered
1951
Extended Ist g34s
1951
Ist gold 38sterliug
1951
Coll Trust gold 48
1952
Registered
1952
L O <fc Tex gold 48 ...1953
Reg-istered
li)5;i
Cairo Bridge gold 48
1950
Louisville Div sold 3 4s. 195,'',
Jiidille DivregSs
1921
Omaha Div Istg 3s
1951
St Louis Div gold 3s
1951
Regi.siered
1951
84
l.islit
Cren Electric licb u iS 48. .1942
Br Rap G L Co 1st g fig.. .1915
Uudson Co Gas l.^^i s 58.. 1949
Kau City (Mo) Gas 1st g 5s 1922
lOngs Co El L <fe P g 58.. .1937
W
Kentucky Cent See L
Keok & Des Mo See C
951a 97
Bklyn U Gas 1st con g 5s. 1945 M-N
Hnnalo Gas 1st g 58
194 r -\-0
Con.sol Gas conv deb 6s
1909 J-J
Cousum Gaa See P G <fc C Co
Isl g 5s. ..1918
22 J
Mar'05
lu5 4J'iy
101^8
City Sou Ist gold 3s.. 1950
Registered
1950
'04
SO
Penn Co
Ga8g5s
10441054
<fe
i>HS<JEI..l.dlNEOL)S
Det Gas Co con
Mar'98
113 133 1084113
1
89
85
s9
116
1133^ ili'
<fc
1161a 117 la 11713 Keb'Oo
104 I4
103 Feb '05
1331a
1331a Mar'05
W
iian and Electric
105
98^4
1104 1114
W
A-O
gu g 68....ol90i)
See
123412414
116
11(5
Oct '04
Feb'05
9938 Sale
.105
Kan
II-N
<fc
1st ref 5s. 1937
2d gold 4'28
1937
General gold 5s
1940
Terminallst gold 58.. .1943
Regis »6,000 each. ..1943
MidRRofN J I8tg6s.l910
WUk<fe Eal8tgug58.1942
Pitts
6
1054 105 4 Mar'05
&O
See Che.s
H Vlstextg4s..l94S
cfe
Tex See So Pac
HoList&TexCen See So Pac Co
134
73
Ry
1951
Reeistered
1951
Spring Div 1st g 34s. ..1951
IIOI4
108
Western Lines 1st g 48. .1951
Bellev <fe Car Ist 68
1284 1284
1923
CarbcfeSha-w 1st g 4s... 1932
130S>130'a
130 130
Chic St L<fe N O g 58... 1951
Registered
1951
129 Is 12938
G ol d 3 4 s
1951
RegLstered
1951
Jfemph Div 1st g4s... 1951
103 106
St L Sou 1st gn g4s
10634 107 4
1931
Ind Bl & West See C C C & St L
ludDeCtfc
ist g58
1935
Istguargold ns
1935
Ind 111 <fe la Isl g 4s
1950
104410618 lnt<fe Great Nor Istg 68.. 191
2d gold 5s
14241424
1909
3<l gold 4s
1921
Iowa Central 1st gold 5s!"l938
100 102
Relunding g 4s
108 109 4
1951
Jetterson RR See Erie
108 110
Jan '05
J-J
Long Dock consol g 68.. 1935
Coalcfc RR lslcurgu68.1922
Dock<& Imp l8t cur 68.. 1913'
N Y <fc Green 1. gu g 5s. 1946
&
4
'04
Han
Honst E
116iall6ia
108 Mar'05
12b la B'eb'Oo
129»8
12938
1141a J'ly'04
F-A
M-S
(Jreenbrier
Gulf <fes list ref <fetg5s 01952
& St Jo See C B <fe Q
ousatonlc See N Y N H & H
Hock Val lstcon8olg44s.l999
Registered
1999
N
75 14 10
94 103
130
FA
^ TalH<fe Hot 1882 1st 5s. 1913 A-O
Georgia & Ala See Sea A Line
Ga Car <fc Nor See Sea A Line
GeorE-ia Pacific See so Ky
Gila V G & Nor See So Pac Co
Gouv & Oswegat See N Y Cent
Grand Rap<& Ind See Penn RR
Gray's Pt Term 6'ee St L S
Gt Nor— C B & Q coU tr4s 1921
Registered. A
1921
112
Feb '04
J-D
J-D
W
Erie
l'-3
1
No Low High
Oct
Sak" 110
884 90
89
Gold 348
M-S IO7J2
M-N 128»2 130
J-D 130*2 131
1 St ext gold 48
1947
ext gold 58
1919
8d ext sold 4'us
1923
4tli ext gold 53
1920
6th ext gold 4s
192f<
Ist consol gold78
1920
l8t consol g fund 78
1920
Erie l8t con g 48 prior.. 1990
Registered
1996
let consol gen Ueng4s.. 1996
Registered
1996
Penn coll tr g 48
1951
6C-year conv 4s A
1953
ButtN Y<fc Erie Ist 7«.. 1916
Burt & S
gold 68
190H
Chic & Erie ist gold 58.. 1982
X Y Sus
4
Hiiih
January
106
116
104
114
il3""
.
112
...
1161a Jan '05
II914.
75
94
...
A-O
iVl-X
9934
104iaNov'01
AC
6'e«StPM&M
& Ga See So Ry
Ekst Ist g5s.l941 M-N
No See Leh & N Y
1st
See Ch M <k St 1'
<fe So
Unt & Pere M See Pere Mar
Fla C <fe Penm See Sea Air Line
Fort St U D Co 1st g 4 48-1941
Ft W<fc DenC 1st g 68. ...1921
.192.x
Ft
cfc Rio Gr 1st g 4s.
/
al Har cfe S A See So Pac Co
I
134
99 12
Apr
J-J
98ialon3f
lOO'gioS'e
Feb '05
1131411413 112
124 .... 123
99>-j
2fl
RR
114
123
55:0
I
Col<fe
99ia
Erie
Jei:
IO6I4
W
104
10034 100'.,
Jan '04
Nov'04
105
100
m.
Q-J
J-J
10 101
941a Aug'03
.
A-O
A-O
9934
10538.
10
11742119
98
991a
102
Oct '04
102
100
.
li^asiof Minn
r'jast Ten Va
<fc
110
Since
or
Last Sale
A sic Low
123 4 Sale
108
cons 63.1921
l.st
W
cfe
Elm Con
TH
Range
1
<fe
ElginJolJi
fYiday
March, 31
L\irgo
'2
I
1917 M-S
Alb & Sus Ist con gn 78.1900 A-O
Guar gold 68
1906 A-O
Rens i& Saratoga 1st 7h.J921 M-N
Del Riv RR Bridge See Pa RK
Denvifc R Grist con g 48.1936 J-J
Consol gold 4'<28
1930 J-J
Improvement gold 58.. .1928 J-D
RioGr West Ist g 48
1939 J-J
Consol and col trust 48 1949 AO
Utah Cent Ist gu g 48 al917 A-O
Rio Gr So eru Ses Rio Gr So
Gold 48
1995
Det 8ou Ist g 48
1951
Ohio Sou Div Ist g 48.. .1941
Dni <t Iron Range l8t68..1937
Bejjistered
1937
2d 6s
1916
Dni So Shore & Ati g 68. .1937
So*'
Bid
<fe
Range
Week's
'
1942
1st general gold 58
Mt Vernon 1st gold 6s.. 1923
Soil Co Brancli 1st g 5s. 1930
tivcfc Ind 1st con gu g 6s.. 1926
1293^ Mar'04
,
.
Registered
DesMoi&PtD SeeCRt&IF
Minn See Ch * N W
Des M
Des Moi Un Ry Ist g 5s. .1917
Det M <& Tol See L S M So
Det & Mack Ist lien g 4e.l995
BOND*
STOCK EXCHANGE
WBBK ENDIWa Mabch 31
Low High
Dec'o;-i
Nov '04
'X
Del La,ck & Western 7s... 1907
Morris <fe Essex Ist7s...l914
1915
l8t consol guar 78
1915
Registered
2000
Istref gu s SHjs
NY
Last Sale
1221
2
N. Y.
Evans
cfe
W
Jianye
Since
S.= January 1
or
(
Ch St P <fe Minn l8t,s68 191S M-N
Nor Wisconsin lst68...19H(i J J
S City 1st g 68.. .191!! A-O
St P
Coupon off
Chic* West Indpen jrt)S<?193^
Mich tiee Pere Marq
Chic &
Choc O & Gulf fiee C R 1 & P
Range
tTidav
March 31
n. y.
—Continued—Page
10941094
ChG-L&Ckel8tgug58 1937
Con G Co of Cti Ist gug 58. '36
Eq G F Ch st gu g 6s. 1905
<fc
Mu
1
J
J
J D
J J
Fuel Gas 1st gu g 5s. 1947 M N
Syracuse Ligliliug Ist g 58. '51 J D
Trenton G <fc El l.st g 5s. .1949 M 8
Westchester Li-ihft g 68.1950 J D
10841094
924
4
no 1114
1094 Sale 109
1094
924 Jan '05
90%
1114111% 1114
»'-2
1113*
94 14
94
9734
103%1043e 103 4 1034
1184
1184 Mar'05
106
106
1064
il03
4l05'4
16 106
100 Mar'04
127 4 Feb'05
10634 Dec'04
110 Feb'05
108
94
1264
Sale
94
11841184
i'25"i27''8
108
109 110
1 08 4 109 4 10334
1094
100 4 Jan '05
1014
107 1074 107 4 107 4
100
110% 110%
110%
108
110
1074 11<»
1004 1004
105
4107 4
11041124
i25"'i27"
1264 Mar'05
Bkn iBtcou g48 1939 J-J
94
11141134 113 Jan '05
1114 113
97
964 001 '04
*l!ioprlc«rridAy; latest bid and asked ttilaire«k. ADaeJaa bDneFeb tlDaeApr eDaeMay ADueJiy /^DueAnc oDaeUot gDaeDe« tUptionsaie.
£d
Kl
II
10
,
Bond Record— Continued— Page 3
i'2'2:
BONUS
J^^
STOCK KXCHANGK
VVkbk ENDWO MABCH 31
Y.
LiOmsT
Nasliv
<fe
Weties
Hattif*
Range or
Since
13034 Feb '06
126^1 Feb '06
11638 Mar'02
130 13034
1261a 1261a
<fe
L<fe
N & M & M l8t g 4 >28 194n
1,& N-SoutU M'joint48.1952
<fe S l8t gn g 58. ..1937
Pens <fc Atl 1st gu g 68.. 1921
B <fe N Ala con gu g 58. .1930
1910
Sink fund gold 68
L& Jett Edge Co gug 48. .1945
N Fla
LK A
CU
112^4
IOOHj
10734
M-S
116
113
115
M
W
AG
AG
116
106
loe^a 106^8
105 Dec '04
107i4Mar'0.)
107
107 >4
"2436 Siue
15
16
95^
MS
W
North
L 1st gold 78. .1927
1909
1st gold 7s
Pacific Ex Ist gold 68... 1921
South West Ex Ist g 78.1910
1934
1st consol gold 58
Ist and refund gold 48.. 1949
St
241a
50
16
16
10
«5
95
109
IO8I4IIO
109
10778 109
2361 J-J *108 109 IO8I4 1081.
101 Mar'05
100 IOII4
1997 J-D 101
981a 100 la
Registered
lOOislOOSg
1997 J-D 100 ifl 101 Hi lOOigFeb'Oo
110 110
173 10034 IO3I4
Debenture g 48
101
19'J8 M-S 10034 Sale 10034
90
97
DetMon&Tol Ist 78. 1906 FA 10134
103HiMar'05
103 Hi 103 Hi
113 II5I4
KaA.feGRl8tgTic5s.1938 J-J 1241a
1121a 113
Mahon C'l RR Ist 58. .1934 J-J 120 14
121 Nov'03
II514 1161a
Pitts McK & Y l8t gu 68.1932 J-J 1311a
139 Jan '03
2d guar 68
1934 J-J 128
117
McKeesA B Vl8tg6s 1918 J-J
109
Mich Cent Ist consol 68.1909
10988 Apr'04
OS
124 Feb'u5
1931 M-S 12134
124 124
lOS's 107
120 Mar'05
Registered
1931 Q-M
120 120
IO6I4
108
4s
J'ne'04
1940 J-J
ibe'ia 10714
Registered
106H2Nov'00
1940 J-J
J L & S Isl g 3138
99 ^
1951
IstgSias
1952 M-N 100 10038 9614 May'04
75
Bat C & Stur 1st gag 38. 1989 J-D
73 T3 78
1 05 i^ Mar'05
105i8l06ifl
N Y <fe Harlem g 312S...20OO M-N 103
76I4
75
Registered
2000 M-N
N Y & North 1st g 58. ..1927 A-O 119H2Sale 118 119Hi
221a 261a
118 119Hj
14
llOSgFeb'OS
R W<feOconl8text58.ftl922 A-O 11934
lVf>
119 11989
11334
Oswe & R 2d gu g 5s...el915 F-A
Jan '02
9413 98
1st gug 58.1918 M-N
105 Hi 107
Utica<fe Blk Riv gug 48.1922 J-J
107 H2 Feb '05
107H2]07Hi
105H2
106
106
N Y Chic & St L Ist g 4s. 1937
I0418IO6
Registered
101 Mar'04
1937 A-O
N Y & Greenw Lake See Erie
'01
AG
140
Dec '03
142
.
11138.
I22I4
lllOa Jan'05
113^
11314 Mar'05
117
.II712 117
9638 96
M-S
111 lllSe
122 122
113141131^
117 11734
Feb'05
122
.
Mar'05
96
98^8
101
101
99
101 la
<fe
Tex
10034
103
Nov'Ol
IOII4 10134 101
85
8534 86I4
1071a
AG
Mohawk & Mai
See N
1'
llliaJan'05
108
108
108
107^2 106>a
10739
1074 Feb'05
107^4
105 «8 107
106'3
F-A
108 >4
J-J
107
F-A
J-J
104>4
FA
117
A-O 118'2ll9'2 U8I4 11834
10934 Oct '03
A-0
96
J-J
98
128
126
96
See
9034
9438
111
8 104 78
95 14
lllia
10834
1091a
50 106
1071210719
104ial07
1051a 106158
123 1251a
106^4 11038
963*
29
88
llliaMar'04
95 Nov'04
98
971a
Sale
129
96
19 107 llOia
951a 98
1041a 110
103 IO4I4
116iall7i4
11634 119
^
93
95
981a
12838
Mar05
1261a 129
122
Mar'05
122
122
97I4 99
11334 115»8
Feb'05
NoY'04
95
101
99»4....
96I4
94
9513 98
97
9712 97 14 Mar'05
113»8....
114 Feb'05
95
95
122%
1211a Feb'05
llB'sllSia 11658 Mar'05
120 ....
119 Jan '05
116'2..,.
1 17 14 Mar'05
II4I4....
113 J'ly '04
101
8234
83 ^
104
Dec '04
83
83 14
120^8 ISlBg
11578 117
119 119
II7I4II7I4
17
811a 8314
PennCo
lien g 68^1915 A-0
NO&N E prior
N Y Bkln & Man Bch See L
Cent<fe H Rivg 3>2S.1997 J-J
NYRegistered
1997 J-J
11534 ll7e,
1
48.. ..1890-1905
1890-1905
Registered
1905
Debt certs ext g 4s
1905
Registered
Lake Shore coll g 3'a8...1998
Registered
1998
Mich Cent coll g 3 "28
1998
Registered
1998
9934 100 >8 100
100 1«
9914 ....
lOOH Mar'do
101 14 Mar'05
100\ ....
J-D
J-D
99
M-N 101
M-N
F-A
91 >2 Sale
FA
90
90
F-A
F-A
Beech Creek I8tgug4s.l93t J-J
Registered
1936 J-J
2d gu gold 58
1936 J-J
Beech Cr Ext Ist g 3 he 61951 AG
Cart* Ad lat gug 48... 1981 J-D
9934
52
9988 10034
99 !« lOOia
10034 10114
91i«
8938
911a
91 "a
90
90
89 Mar'05
107 la Feb '05
102 Mar'04
Kkn &
H C <& C Ist s
91
FA
Improvem't<fe ext g 68. .1934
New River Ist g 6s
1932 A-O
Ncfe
Ry Ist con g 43. 1996 A-O
Registered
1996 A-O
Div'l lstl& geng48...1944 J-J
PocahCcfe C joint 4s.. 1941 J-D
CC&Tl8tgug5s
1922 J-J
Scio V &
E Ist gu g 48 1989 M-N
North lUinois See Chi <fe
North Ohio See L Erie &
Nor Pac Prior Uen g 4s.. 1997 Q-J
Registered
1997 Q.J
General lien gold Ss
a2047 Q-F
Registered
a2047 Q-F
St Paul-DtU Div g 48.. ..1996 J-D
Registered
1996 J-D
C B & Q coU tr 4s See Gt Nor
St P <fe N P gen g 68.. ..1923 F-A
Registered certltic's..l923 Q-F
St Paul & DvU 1st 58
1931 F-A
2d 58
1917 A-O
Ist consol gold 48
1968 J-D
Wash Cent Ist g 4s
1948
W
N
D
1)
f g 58.195
J J
Plena ValCoal Istgaf 58.1928 J J
Tenn Coal gen 58
1951 J J
66 10314 10638
103Hi 1031s
66
107
89
89
106 la 107 Hi
140
103
Sale
103
"o'si^
."."
97 Sale
109
102 H2 104
106H2Sale
103 105
76I4 Sale
75 H2 7634
100 14
12538 127
119Hj
IVd'M
IIOI4
100
92I4
101
Nor Pac Ter Co Ist g 6s.. 1933 ?:^ lie
Nor Ry Cal See So Pac
Nor Wis See C St P M & O
Nor & Mont See N Y Cent
See C C C & St L
OInd &
W RR
hio River
Ist g 58.1936 J-D *11738ll9
General gold 58
1937 A-O 113H»
t)re & Cal See So Pac Co
& Nav See Un Pao
Ore
Ore Short Lme See Un Pao
Oswego & Rome See
O C F St P See C
Coast Co Ist g 58
1946 J-D 113 114Hi
Pac
ac of Missouri See Mo Pac
Panama Ist s tundg4ias..l917 A-O
llll4lll'4
133Hil33Hi
H.
103
1^4
45 100
104^
9934 J'ne'04
99 14 Mar'05
97
57 95
9634
97
109 Ha Feb'05
109 H2
102 Ha 102 H^ "i 102
100
10634 48 10434
106
104 H2 Feb'05
104
76I4
77 107 76I4
75 Feb'05
75
100 Mar'05
100
106»4
IO514
126
132
Mar'05
9734
109 Hi
103
78
76»t
101
126
126<^
108
109
J'ly '99
II2I4 J'ly'03
109
101
94
116
Feb'05
Feb'05
Aug'04
Jan '05
9978 101
115"
i'le'ii
II8I4 Feb'05
II3I4 Feb'05
neons'*
114Ve
113»4ll5Hi
113141131*
NYC
W
&N
Sink fund subsidy g 6s. .1910
Penn Co— Guar Ist g 4ias.l921
Registered
1921
Guar 3138 coll trust reg.1937
Guar3i28CoUtr ser B...1941
Tr Co certif's gu g 3ia8.1916
C St L <fc P Ist con g 58.1932
Registered
1932
CI & Pgen gug 4 las ser A. '42
194'2
Series B
Series C 3ias
1948
Series D 3ias
1950
Erie<fc Pitta gug3iasB. 1940
1940
Series C
M-N
J-J
J.J
M-S
M-N
A-O
A-O
P-A
99 Hi.
96
J-J
J-J
gen
gug4ia8l945
J-J
N <fe C Bdge
94Hj.
102
J-J
114Hi
Jan '05
2d78
E
W
1912 J-J
A1912 A-O
3d 7s
Penn
RR
FA
3ia guar g
1949
<fc C Ist 78... 1912 J-J
1st real est g 4s. 1923
M-N
10
84
106 Hi
00
89 Hi
May'97
Oct '03
Feb '02
93 Hi 100
110 Hi 111
11034 112
103
m\
'
ti
Due
103
93
Hi
I'eb
104
111
.Tan '05
17 110781111*
106 106
Nov'98
Mar'06
Feb'05
Oct '04
94
97 7e
94
98
.
94 H2.
106 Hj
9834
Jan '04
Nov'OO
Apr'04
.
9308.
11688.
116«8.
9378
9378
12788 Oct '02
121 Mar'04
106 H>.
119
107
114
106 14
10638 Sale
II418II44
11334 113»4
16
Apr'04
Feb "05
93=8
»37,
106
107
111 Hi Sep '04
106 Aug'03
105 1.^ 112 103
106
107
on Next FaKe
Telefn^pli and Telephone
Am Telep <fc Tel coll tr 4s 1929
Comm Cable Co Ist g 48. .2397
Erie T & T col tr g 8 f 68..192ti
1918
MelTifc T lata f gSs
N Y & N J Tel gen g 58. .1920
West Union col tr cur 58.1938
Fd an<l real est g 4H28...1950
Mut Un Tel 8 luud 68...1911
NorUiwTelguf 4 His g.. 1934
.Uanuiacturinx Jk. IniluMtriaJ
1915
Am Cot on ext 4 HiS
Am Hide A L lat 8 t g 68.. 1919
1915
Mfg
Ist
Spirila
g68..
Am
AmTlireud Ist col tr 4a... 1919
Am Tobacco 40-yrg 68 1944
Oct '00
104
Apr'02
103i4Aug'03
11578.
117
IOOI4.
BONDS—Continued
102
86
Tenn Div Int g 6h
HI Jan '05
ol917 A
111 112
Blrm Div Istcousol 08.. 1917 J J
IIII4 Mar'06
Cah C M Co l8l gu g 68.1922 J D
102 Deo "03
97
DeBarC* I Co gu g 68.1910 F A 103 4105 103 Feb '06
Iron Coal AC o lat g 58.194H M K
831-.1
89
89
89'.i
Whtt L K A PC0 1«lg58.19r.) J J
32 Jan '00
*No price Friday; latest bid and aaked tbia week, a Due Jan
104
.107
102
lllifi 111
'109 IIOH2 106
102
93
94
"9834
98
981a
119
118
A-O
M-N
1906 J-J
Consol sterling g 6s
Con currency 68 reg...j;1905 Q-M
1919
Cousol gold 08
1943 M-N
Consol gold 48
1912 M N
Convertible g 3ia8
J'ly '04
98»H
13-25g
Jan '05
Dec '04
132H2 Dec '04
133
132
Series
Pitts Ft
Hi
102 Hj
107
102 H2
106 14
105
9888 9888
112H2 IIII4 Feb'05
133^4
13118
W
—
MS
....
.
NW
111
911a
911a
Apr'02
95
.
Nov'OO
Oct '04
F A 10314104
1037e Mar'05
F A
90
90 Feb '06
88H1 89Hi 89
107»8 Dec '04
F-Al
J
IO4I4
93
89I4
91^1.
9834.
J
J
103Hj
103 Hi Jan '05
89
.
M-N| 111
A
103 Hi Sale
9934
0'II.SCEL.I..ANEOUS
J
Apr '03
10178 Nov'04
PCC<feStLgu4iasA...1940 A-O
]
114 Is Jan '05
.115Hi
194'^ A-O *115H>.
Series B guar
1 1 334 Jan '05
Series C guar
194i M-N 113Hj.
110 Aug'04
104 -a Oct '04
Series D 4s guar
1945 M-N 104 14.
Dec '02
May'04
99iaNov'02
Sale
901a
107 •«.
104 >8.
110
Clearf Bit Coal Istst 48.1940 J-J
Gonvcfe Oswelslgn gSs 1942 J-D
Coal and Iron
Ool O lb I Dev Co gu g 58.1909
Cd Fuel Co gen gold 6h...1919
Col F <fc I Co gen 8 f g 58.. 1943
Convertible deb g 68. ...1911
Trust Co ctfs
Contin'talC IsLsf gu58g.l952
Gr Riv Coal<fe C Ist gOs.. 1910
Jeff <fc Clear C<fe 1 Ist g 58. 1926
2d gold 08
192(i
13134
<fe
&
Debenture g
127
110
RR
C& H
MW
Cin Bdge
951a
961a
113-4
92^2
New M & D See N y N H & H
N J June RR Se« N Y Cent
New &
Sale
M-N 96 Sale
M-S 101>2
St L Ist 78.1913 J-J
Nash consol gold
1928 A-G
58
1st
Jasper Branch Ist g 68. .1923 J-J
<fc Al l8t68..1917 J-J
McM
1917 J-J
Branch Ist 68
Nash Flor & Shot See L & N
Nat of Mex prior lien 4 "us. 1 926 J-J
1951 A-O
ist consol 48
T&P
108 14 108 14
95 la Mar'06
110 Mar'05
104 Mar'05
1161a 117
97
W
&
10678
871a
108
87
.M-S
Monongahela Riv See B <fe
Mont Cent See St P M & M
Morgan's La c& T See S P Co
Morris & Essex See Del L&
Cliat
85
10334
105 14 Dec '04
95 Mar'05
108
95
113
107
J-J
J-J
MobJ&K Clslcon8K58.1y5H J-J
Mob & Ohio new gold 68. .1927 J-D
Ist extension gold 6s../il927 Q-J
1938 M-S
General gold 4s
Moutgom Div Ist g 58. .194" F-A
St L, <fe Cairo coll g 48..el930 Q-F
1931 J-J
Guaranteed g48
See Southern
<fe O coll 48
M
lOOialOHa
lOlia
85 la
103
9934 May'05
10634
90^4
lOO'a
Tex&Oklal8tgug53...1'J43 M-S
106<^Feb'0o
M-N
I25I4 I25I4
M-N 125^
107 14
M-S 107 107^4 107
W
<fe
<fe
M-N
& Wa
F-A
&
A-O
M-N
K
M
MK&TofTl8tgug58.194^ MS
Sher Sh & So 1st gu g 58.1943 J-D
1906
Missouri Pacific 3d 78
192U
Ist consol gold 68
Trust gold 6s stamped. al917
ol917
Begistereit
1920
l8tcoUgold58
Cent Br By 1st gu g 4s. 1919
Leroy<feCVAL,lstg58 1926
Pac R of Mo Ist ex g 48.1938
2d extended gold 58. ..1938
8t L Ir M<fe Sgen con g 581931
Gen con stamp gtd g 58 1 93
Unified & ref gold 48.. 1929
Riv&G Div ]8tg4s.. 1933
Ist g 58.1926
Verdi V I &
Mob <fc Blrm prior lien g 58 1945
1945
Mortgage gold 4s
<fe
<fc
J-D
el990 F-A
1944 M-N
Ist ext gold 58
St L Div Ist ref g 48.. ..2001
l8t gu g 58... 1940
Dal
Kan C Pac Ist g 48.. .1990
Mo K & E Ist gu g 58.. .1942
1942
<fe Ok Ist gu 5s
,
99»8
'
Ist g 48.. .1990
2d gold 4s
N Y Har See N Y C & Hud
N Y Lack W See D L W
N Y L E & W See Erie
NY&LongBr See Cent of N J
NY<feNE SeeNYNH&H
New York New Hav & Hart^
Housatonic R con g 58. .1937 M-N
N H Derby con g 5s. .1918 M-N
N Y & N E 1st 78
1905 J-J
N Y North See N Y C & H
N Y O W ret 1st g 48..5'1992 M-S
Regis $5,000 only
^1992 M-S
N Y & Put See N Y C H
N Y & R B See Long Island
N Y S W See Erie
N Y Tex & M See So Pac Co
Nor & South 1st g 58
1941 M-N
Norf & West gen g 68
1931 M-N
<fe
<fe
Mo Kan
.
,
<fe
Minn St L gu See B C R & N
MStP<feSSMcong4intgu'38 J-J
M & P 1st 58 8tpd48 int gu 1936 J-J
<fe
107
<fe
J-D
J-D
A-G
J-D
M-N
M S S M A 1st g 4 int gu 1926 J-J
Minn Un See St P M &M
103
RW&OTB
May'OO
105
W
W
See Ch M & St P
Iowa Ex
'05
2418
90«8 J'ly
Oct '02
Mar'05
105
106
MS
15
7712 234
Jan
75
off
98
101
IOII4
1091a Sale
MS
76 "a 77 "^ 77
1939
Ist consol income g 38.01939 J'l'y
2d consol income g 38..01917 •i-iy
1919 A-0
Equip & coll gold 58
1907 FA
Coll tr g 4>2S Ist Ser
Mex Internat Ist con g 48. 1977
1977 M-S
Stamped guaranteed
Mex North Ist gold 68.... 1910 J-D
N
Y
Cent
Mich Cent See
Mid of N J See Erie
See Chic & N
MU li S c&
MU & Mad See Chic & N
Minn &
96^3
Mar'05
1121a Mar'05
II514 Mar'05
110 Mar'03
9S88 Oct '04
99
N J June R gu Ist 48.. .1936 F-A
NY<fcPulstcongug48 1993 AC
Nor & Mont 1st gu g 58.1916 A-O
West Shore Ist 48 gu... 2361 J-J
Lake Shore gold 3 las
N
Coupons
MU &
96^8
N. T.
Registered
Nov'99
Mar'05
115
10734
See C I <fe L.
S
See L S &
anhattan Ky cousol 48. 1 990
1990
Registered
Metropol El Ist g 68.. ..190b J-J
Man S
Colomz g 5s. ...1934 J-D
Y Cent
McK'pt & B V See
Metropolitan Kl See Man Ry
gold
48. .1911 J-J
Hex Cent consol
<fe
Mahon Coal
J'ne'02
100 la
110 Feb '05
96"-;
F-A
F-A
A-0
M-S
Apr '04
122
75
113
1980 Wl-S
2d gold 3s
Rang*
Week's
Price
Friday
STOCK EXCHANGE
Range or
Since
January 1
La*t Sale
March 31
La*t Sale
January 1
Week Ending March 31
High Ho Low High N Y Cent & H Vi,—<C<nitinued)
Ask Low
Bid
Hiql' No Low HigK
Ask^Low
109 109
109 Mar'05
Moh & Mai 1st gu g 48. .1991 w-s 101
107 Hj J'ly '00
la
L Cin & Lei gold 4 Vas... 1931 M-N 109 >a
ViO\
K O M l8t gold 68... .1930 J.J
1930 J.J 126 "a
N O & M 2d Kold 6b
PensacolaDiT gold 68. ..1920 M-S 112 114
1921 M-S 121
St L DiT l8t gold 63
Bender Bdgelstsf g68.1931 M-S
Kentucky Cent gold 4s. .1987 J-J
BONDS
iYice
Friday
March 31
Bui
(Contintied)
Vol. lxxx.
J.J
97'% Mar'06
07«^
9614
fi
92
109
M-N
M-N
iV6'i^!;."I
10934 J'ne'04
104
J-J
1
M-N
M-N
107
109
l05i4J'ly'03
11138
111
10678 107
IIOI4
llOU
103 J'ly '04
1 1
J-J
Q-F
M-S
MS
J-J
Hi
Sale
Sale
106
99
99 7i. 100
9734 Sale
96
88
Hale
A-O 118i4Sale
1951 F-A
74 Is Sale
48
Consol Tobacco 50-yrg 48.1951
FA
eDueAiny i^DuuJ'ue A Due
J'ly
8188 Sale
p Due Nor
9734
95
88
117Hi
7379
808,
«
97
97^
Deo'04
Oct '99
100
98
96
88
6 lioislllia
15 10488 107
1 110l4ll0««
18 100
20 97
95
101
100«4
97
87H» 89>«
II8I4 326 110>«118>«
777,
7434 364 71
83 190
Option tale.
7*
841,
Apr.
Bond EeCOrd
1905.]
1.
BONOS
We«A«
Range or
Friday
STOCK EXCHANGE 51
March 31
WKKK ENDDJB MAECH 31
». Y.
Bid
Penn KB (Continued)
AUeg Val gen gu g 43... 1942
01 <& Mar let gu g 4>28..19;t5
D R R B Bge 1st gii 4s g.'36
cfc
GrBife leilst gug4V2Sl94]
1st g 4s. .1943
PhUaBal&
Sun & liewls 1st g 4s... 1936
TJ N J BR <fe Can gen 4s. 1944
Pensacola & Atl See L & Nash
Peo <fe East See C C C <fe St L
1921
Peo ifc Pek Un 1st g 6s
W
2(1
gold 41^8
WM
Pere Marq— CU&
SagTusdfc
Phil B cS;
W
llOSg
1083b
ill" 12
10615 101
Penn
117^8
126
W
!iyi^4
137
.
122
112
123
1131a
11434 1 10 "a
&
1997
Registered
Jersey Cent coll g 4s.. .1951
Bensselaer <fe Sar See D <& H
Eich <fc Dan See Soutli By
Rich <fc Meek See Southern
Eio Gr West See Den & Bio Gr
Bio Gr Juno 1st gu g 5s. ..1939
1940
BiogrSo Ist gold 4s
194u
Guaranteed
Pitts
See
Apr'04
Nov'y7
Oct '01
1121a Dec'02
&
Y -SeeM Y Cen
Pitts McKees
Pitts Sh <fe li E Ist g 5s.. .1940
1943
1st consol gold 53
West see B <fe O
Pitts
Ash 1st con 5s. 1927
Pitts V
1997
KeadingCo gen g 4a
Boch &
12319 12318
120
121
111
of Cal lat gu g 6s. ...1907
1938
Guarant«ed gold 5s
Ore & Cal Ist guar g 5s. 1927
SA& APass Istgu g48. 1943
So P of Ar gu 1st g 6s.. .C1909
cl910
1st guar g 63
1905
S P of Cal 1st g 63
1905
1st g 63 series B
IstgesseriesCife D...190G
l8tg68 series E& r...l912
J'ly'04
KB
IIS'^R
.20
Mar'05
120 Hi
98
J'ly '97
116
102
102 K 10218
101
sale
102
>.j
1994
Registered
Mob cfe Ohio coU tr g 4s.. 1938
Mem Div Ist g 4ia-5a... 1996
1951
St Louia div 1st g 48
1918
Ala Cen B 1st g 6s
1948
Atl<& Danvlst g4s
1948
2d 4s
Atl<fe Ya<t 1st g guar 43.1949
1916
Col & Greenv 1st 6s
E T Va <fe Ga Div g 58. .1930
1956
Con Ist gold 58
11712120
41
Jan '0.5
101
101
109
74
109
OO'plOS
li;0
100
yyiaioi
Mar'05
Jan '05
E Ten reor lien g 53
1922
Ga Pac By Ist g 6s
Knox & Ohio Ist g 68... 1925
1915
Bicli & Dan con g 68
1927
Deb 5s stamped
BicJi & Meek Ist g 4a. ..1948
1919
So Car & Ga 1st g 5s
100
77
89
109
75
89
Mar'O.'i
7514
89
Bonie Wat <fe Og See N V Cent
1941
Butland 1st con g i^s
But-Canad 1 st gu g 4s. .1941'
iSee Pere Marq
<fe H
Tus
Sag
t Jo cSi Gr Isl 1st g 4s. ..1947
St Law & Adiron Ist g 5s. 1996
1996
2d gold 6s
Bt L <fc Cairo See Mob & Ohio
10334 May'04
108
101i4Nov'01
.
95
Sale
95
Virginia Mid aer
Series D 4-5s
95
93
J-J
J-J
J-J
106
106
10959
101
IOII2
105 la
1093j,
lOO-S,
S
M
1291-^
130 >«
116
Sale
104
91
Sale
104i8Feb'o5
1 29 la Mar'05
116
116
9934 Mar'05
yS58Nov'04
901a
96
M
M
12614
12614
9oa4 Sale
KC&MK&Bl8tgu5s.l92y
ylSr,ec'04
Jan
10458 1045g
104 1043s
129 413012
4 1121-^116
9934 9934
91
J-J
'05
90^4
99%
99^8
34
86
86
86
82^8 Sale
8258
8278 151
90
88I4
92I4
I26I4I26I4
8834 92
102 Hi
Bt Louis So >See Illinois Cent
l8t g 48 bd ctls.1989
St L 8
2d g 43 inc bond ctts...iJl989
Consol gold 48
193
Gray's PtTer Ist gug 58 1947
Bt Paul & Dul See Nor Pacitic
& Man 2d 68.. .1909
St Paul
Ist consol gold 68
1933
Registered
1933
Iteduced to gold 4>2S..1933
Registered
1933
Dakota ext gold 68
1910
1937
Mont ext Ist gold 4s
Registered
1937
B Minn 1st div Ist g 58. .1908
Nor Div Ist gold 48
194b
W
9914
9912
& N Ala
J-J
J-J
J-J
J-J
J-J
117
95 14
See
iioi« 11134 llQiaJan'Oo
137 140
138 Mar'05
140
lllOaSale
9814 1011-2
84
861a
801a 8338
104^4
122^4
136^4
193'
Registered.
1937
1st guar gold 5s
1937
'
Will & S F Ist gold 5s.. 193b
Bt P & Nor Pac See Nor Pac
Bt P & S'x City See C St P
&u
Salt LakeC Ist g st 68.. .1913
BFePresA Phlst g58...194-J
S
& A P See So Pac Co
B F <fe N P Ist sink i g 53.191ii J.J
Sav F & West iS'ee Atl Coast L
Scioto Val &
E ,See Nor &
Seaboard Air Line g 4s ...1950
Coll tr lelund g 5s
1911
Car Cent Ist con g 48. ..1949
FlaCen<& Pen 1st g 58.191b
Ist land gr ext g 58 ...1931'
Consol gold 5s
1943
llOialll
137 138
May'02
lU
lli^B
lieiaApr'Ol
II2I4 112 14
10434 Mar'05
106 May'Ol
104»8.
1922
11158
128
,
11314 11238
la 10434
10434 10434
Apr '02
1181^,
119^2.
135 Jan '05
13434 Dec'04
11818 Peb'05
117 Jan '04
10914.
110
Jan '04
1021a.
11334
Dec '01
,
11214
103
1043, IViar05
'.
135
135
11818 1181*
M
A
<fc
<fe
Scab & Boa lat 5s
1926
Sher Shr & So See M K <fe T
Sil Sp Oca & G See Atl Coast L
Sod Bay & So Ist g 68
1924 j-j
80 Car & Ga See Southern
So Pac Co— BR 1st ref 48.1955
Western Div lat g
Mar'Oo
109
Feb '05
1121a Mar'05
1091a 114
11214
110^4 115
110 Jan '05
llli4M»y'03
110
"2
Ist
11534 11618
Dec '03
y3
NoT'04
112Si Mar'05
.
II2S2II2SJ
121 122
9834 lOOSj
Mar'Oo
100
121
100
.
112 Is J'ly '04
122 Sj 123 1<
94
94
109 Sj Aug'04
106 "a Nov'04
II514 Mar'05
,
,
HI
,
31 I2OI4I2314
1
94
102
114Sjll5i4
May'04
109 Sj
107 Sep '04
97 14 9734 97 14
97 14
93 S, 95
931.2
9334
90
91
90 Si
90Sj
86 14
86
86
"971^ 99
9734 Mar'Oo
112'8ll3
112'8 112^8
4
96Sj 98Si
95
91
4 8578 9119
26 83 Sj 8658
....
97Sj 9734
112 11279
3
95I4 Jan '05
95 14
95
00-4
14
10718 ibo 104^4 10719
Mar'05
103 Si 10534
12834
I3314 877 11278 13819
121
Feb'05
11636 121 Si
i 0718 Sale
10i3.
106
105
132 la Sale
103
II5I4II6I8
J'ly '00
117
100
.
115
RR&
114
II5I4II7
114
1161s Mar'05
..
.
A-O 113
gu
112 11258
96 Sj 98
108 111
116S? llOSi Ma>'04
123i4Sale
95
W lat goldg 4s
4s.... 1917
Sale
103
125',
124
103
124
1191-4
11914
119^4 ^aie
97S2t<ale
10934
112
112
a4Si Apr'02
97 Si
....
Uni N J BB & C Co See Pa BB
Utah Central See Rio Gr Wes
Utah & North See Un Pacitic
973.
i'y
•z
o
94
102 Si 103 Sj
124 127 Sj
117Sil20
97 19 98
Dec'O;
90
91
104
8434
1 03
95
109
S,
logiaMar'dS
109
14
A
92
10434
98»6
lOJ
la
109
la
110
102
Jan
'03
119Si
IO7S2IIC
34 II8I4II9SJ
10 108 Sj 1121a
90
66 Sj
102 Si
102 Jan '04
110 Ills. IIOI4 IIOI4
10934
97 Nov'04
8634 90
88 14 Mar'05
86
9534 99
y7SjJan'0
97 Si
,107
09 Si Mai-'03
94 Sale
93 14
^06 9334
94
42 Si Sale
42
43 S, 56b 42
Om
'>542
90
8434
IIOI4
8878
98i«
1
1954
see Del Lac <&
Mar'OJ
109
Feb'05
75 Si
84
8I34 Sale
&
2d gold 4s
1021a,
110
110
liySaSale 119
10834 109 Si 109
91
90
lat gold 58
1939
2d gold 58
1939
Debenture series
1939
Series B
iy3y
lat lien equip 3 td g 53. .1921
Det
Ch Ext 1st g 58.. 1941
Des Moln Div Ist g 4s.. 1939
Div Ist g 312S
1941
Tol* ChDiv Ist g 4s. ..1941
St Chas Bridge 1st g 6s. 1908
Wab Pitts Term Ist g 48.1954
Warren
95 Si
457,
West
Wash Cent See Nor Pac
Wash O W See Southern
West Maryland lat g 48. ..1952 A-O 93 14 sal^
WestN Y<fe Pa Ist gds.. 1937 J-J II8S1I19
Gen gold 3-48
1943 A-O *99i8 ....
<fc
97 ig Sale
1941
rel gu g 4s 1949
Registered
iy4y
Mortguar gold3'2s../cl929
aalHar<fc S A 1st g 6s. .1910
2d gold 7s
1906
Mexcfe Pac lat g 58
1931
QUa V G & N 1st gu g OS. 1924
Hous E <fe
T Ist g 53.1933
Ist guar 58 re<l
1933
10934
95 "4 Sale
lOlisSale
89
8934
IOSSb....
100 la....
113 ....
109 12 110
106 108
106 ....
W
M
116i4ll7Si 1161*, Mai'Oi
112 ....
112 -'8 Jan '05
95'a 97
98 Feb'06
10834 111
110 Mar'05
lllSa....
123 Feb '02
110 ....
110 Dec'04
II2I4....
114 Jan '05
116 Si 117
117
117
IIII4
1935 J-D
1990 A-O
J-J
TolStL<feWprlieng3i2S.1925 J-J
50-year gold 4s
1950 A-O
Tor Ham & Butt Ist g 4s./a946 J-D
<fe
Del
Ist
con
s
5s
1928
J-D
Ulster
let refund g 48. .1.... 1952 A-O
TJn Pac
1 gr g 48 ...1947 J-J
Begistered
1947 J-J
1st lien convert 4s
1911 M-N
Registered
1911 M-N
Ore Ry & Nav con g 4s. 1946 J-D
Ore Short Lino lstg68..1922 F-A
Ist consol g 5s
1946 J-J
Guar refund 4s
192y J-D
Utah & Nor lat 78
1908 J-J
Gold 5s
1926 J-J
<fe
<fe
123I4 12434
113Sj.
General gold 58
Kan
P
Mar'05
114
II414
114
12119122
114 116
123I4I26S1
10934
Wabaah
104
95
101>a
Cent Pac lat
5s. ..1935
II4I4
1213^
12434
121
100
WMin'W&NWl8tgn5s'30 F-A
Tol<fc OClstg5s
1935 J-J
98 100
117Sill7S2
954 98 Si
126\ 126 Si Feb'05
9734.
& Black R See N Y Cent
VerVailnd<feW 6ee Mo P
Irginia Mid iSee South Ry
Va & Southw't let gu 58.2003
91 Sale
104
98
110
105 Sj
110
112 113
Coll tr g 4*28
1905
Gold 4s (Cent Pac coll), /cl 949
Begisteretl
/cl94U
A& N W Istgu gos
5a
96 Si 99
991
12434 12434
ISO
2000 J-D
j2000 Mai
1931 rj
9634
126S2
93 Sj....
1953 J-J
Gen refund s f g 4s
L M Bge Ter gu g 58.1930 A-O
& N O See So Pac Co
5s
II414
12134
11618.
Tex
11934
Feb '04
124
*
gu g 4138..I943 J-D
'
112 iviia
108 Si 108 Si
117Sil20i4
Mav'04
118
H3S!
J-J
J-J
J-J
L&N
Tex&Pac 1st gold
2dgoldLnc58
La Div B L Ist g
Si
'J8Si
108 Si 10939
108 109 Sj
Oct '04
Feb'05
Mar'05
Utica
W
6a Ala By Istcon 58ol945
Ga Car No Ist gu g 5s 1 929
1st
Mar'05
Mar'O
Dec'04
122
Nor 1st g 63.1939 J-J
<fc
By
Stat Isl
117
90 Si
J-J
J-J
A-O
M-N
M-N
M-S
M-S
M-S
M-N
M-N
Dec'04
yss.
14
iu'i^irs"
10938 Mar'Oo
II714
99I4
96S2
114'8
11334
A-O
IO214 102
Feb '04
119
Feb "05
121)
88
91Si
106 10818
109 Ig 10938
903.,
Jan '05
Jan 'Oa
Oct '04
102 14 Mar'05
104Si Dec '04
115 Mar'05
114S2 Dec '04
109 Si
103
112 Si
108Si
119 S.
110
96^4 0612
99I4
SyraBing&NY 6eeDL<fcW
per A of St List g4i28.. 1930 A-O
1 Ist con gold 5s.... 1894-1944 PA
Tol
M
Since
January 1
Sep '04
Jau'Ol
Nov'04
90S*
96 Sj
117 118
M-S
St
80
55
la
68.. .1916
W
Spok Falls
104''8Feb'05
106
113
102
....
102
J-J
A-O
1921
1926
General 58
1936
Guar stamped
1936
1st cy ffu 4s. .1924 F-A
O <fe
West N C lat con g 68. .1914 J-J
W
104 vj.
C
Eos
Series
95
M
P
8t L <& Iron Mount See
St li K C <fe N -See Wabash
St
L
Br iSee T BB A o(
St L.
St L & S Jf'ran 2d g 68 CI B 1906
1900
2d gold 6s Class C
1931
General gold 68
General gold 6s
1931
St L,& S if RH cons g 4s. .'96
Southw Div Ist g 58. .1947
Refunding g 4s
1951
5-year gold notes 4Hj..l90b
K C Ft S <fe con g 68. . 192b
K C Ft S & Ry ref g 4s ly36
N
IO314
IO6I4
M-N
1938 M-S
B R&P
Minn Union Ist g 68
Mont C Ist gu g 68
JJ
A-O
A-O
A-O
A-O 114 Si
1912 A-O 1141a
1st gold 6s
1937 M-N II5I4
1st con guar g 58
1905-. .1937 M-N 10939 1093^
Stamped
SPaeofNMexlstg68..1911 J-J 10914
1905 F-A 100 Si
Tex & N O lat 7s
Sabine Div l8tg6a.... 1912 M-S 11034 112
1943 J-J 108 S2
Con gold OS
1994 J-J 119 S2 120
Southern— l8t con g 5s
llY'-iOct '04
U),)
Range
or
1
No
'04
Isteu g 4s. 1931
See
Range
<fe
109 Apr '02
123 Feb '05
U3i'2Mar'i>5
116'a 116'i
122
113 Si
116i2Sale
1920
Phila & Reading cons 78.1911
Pine Creek reg guar 6s. ..1932
Pitt,s Ciu & St li See Penn Co
Pitts Cleve & Tol See B & O
& Cli Se^ Penn Co
Pitts Ft
1922
Pitts June lat gold 6s
Pitts cfe L Erie 2d g 5s...al928
&
"4
110 "a Sep
106^4
Wee/Cs
Last Sale
W
no
123 Is Jan '05
1939
Ist consol gold 5s
Pt Huron Div Ist g 5s.l93il
H
Jan '05
loo
Price
Friday
Mare7i31
Rid
Ko Low High Southern Pac Co (Continued)
Ask Low
Higli Ao Low Migh
1105glH>9
B.& TCl8tg58intgu..l937 J-J lllia.... 11 1 Si Mar'05
guar.
..1912
113
int
Dec
'04
Consol g6s
A-O
110 110
100
100
Gen gold 48 int guar. .1921 A-O 100
95Sj100
Oct '04
27 Si Feb '02
Waco& N div 1st g 68 '30 M-N
Mar'05
IO8I4IO8I4
T 1st 78.1918 A-O 1291a
Morgan's La
129Si Nov'04
1920 J-J 121
122 Dec '04
Ist gold 6s
Nov'97
no's
STOCK EXCHANGE
Wkkk EifDma March 31
Uiqh,
102
llOHj 110
108
1223
N. Y.
Since
a;* January 1
109
99
100
&192]
5s 1921
rbntcfePMfi6s
Low
4
BONUS
Range
s-s
Last Sale
Asic
—Concluded—Page
967,
101 v,
97i«,
96^8
9778
101 10134
101
97I4
95 14
96
95
94iaATig'04
109 "a Feb '05
10878lll5»
1003,
105 10038 104
101
9yi4Mai"03
891-^ '16
8838 8934
89
108 4 Mar'Oo
lOSHillO's
103 Sep '04
113iall5
115 Feb'05
1091, 109 13
107 14 Feb'05
103 i<j J'ly '04
lu9 109
1051510714
i-i
Income 5s
Weat No Car
dl943 Nov
See South By
VaCentA P Ist g 63. .1911
Wheel'gife L E lat g 58... 1926
Wheel Div 1st gold 5s. .1928
Exten & Imp gold 58. ..1930
1922
20-year equip s f 53
1949
Istcouaoi 4s
Wilkes
Etuit See Erie
Sioui F See St P
& Jl
Wis Cent 50-yr Isl gen 48.1949
W
WU &
&
J-J
A-O
J-J
FA
J-J
M-S
93
118
98
29
1
93Si 119
Si
40
Feb '05
Mar'Oo
Mar'Ol
11018
111
Mar'Oo
11434
11434
11434
11318
1 10 14 May'04
114181143, U4i4Mai'05
102 Jan '05
92 Sj sale
92
92 Si 136
,
,
90 14 94
118 1184
98
yts34
111 lll>i
II4I4 11434
113
1145,
102
92
102
951s
M
J-J
93 Sj 94
93 Si
94
52
90 Si 94'^
MlSCKbliANEOUiS BONUS—OonchuletU
Bloautacturiii;: &, Industrial
registered 481951
Distil Sec Cor conv Ist g 5s. '27
Con Tobacco
lUiHcellaneo us
F-A
A-O
Distill of AmercoUtrg 5s. 1911 J-J
Steel Co deb 58
Non-conv deben 58
Int Paper Co lat con g
1910 J-J
1913 A-O
68.1 918 F-A
Int St Pump lo-yr conv. 6s '13 J-J
Knicker lee (Chic) 1st gos. '28 A-O
Ziackaw steel lat g 5s
1923 A O
Nat Starch Mfg Co Ist g 6a 1920 M-N
Nat Starch Co s 1 ileb 58..19-jo J-J
Btan Rope <fc T Ist g 68... 1946 F-A
Income gold 58
1946
V 8 Leath Co sfdeb g68..19l;^ M-K
Kealty*
US
I conv deb gos '24 J-J
V S steel CorplO-60 yr6s.d'6;< M-N
Begistered
April 196:< M-N
Va-Car
va-oar cnom
Chem col
collrsa
tr 53 g..lyii; A.Q
A.O
8S'4Dec'04
82 Si Sale
•975»
99
111
•Ko
10834
104
Si
9834
107SJ
'87S1
*«3
53
81
104 Of,
82
Sep
Si
'o;i
99 Jan '99
92 Feb '04
109
109
104 Si 1045b
98 Feb'05
107 Sj Mar'05
9219 Feb'05
70
70
54
48
606
79
108
82 Sj
10934
10234 104=8
98
98
10434 108
91
65
93
70
64
12-;
Sale
42 Sj
II4
1-281
6
314
6
4S! Sale
112 II214 112
8 lllS: 112
112
10234 Sale 1 01
103 S:
2« 93
103
94I4
951-^
9538 •Sale
953b 1217 92
92
95 Sale
95 \
5
95
95
14
102
lo2
101
101 Si
Mar'Oo.... 101 lOlSi
Mar'Oo
price Friday; lAteet bid and aakeu.
Adams Ex col tr g48
1948 M-S 103
Am Dk Imp 58
Cent N J
<fe
W
Uet
103
M & M Idgr incomes.. 1911
A-O
58. ..1910 M-N
Ne
H
Ship
106
10034 J'no'02
66
.
714:
Hoboken Lcfc I gold
.Mad Sq Garden Ist g 58. .1919 .M-N
Man Bch dt L gen g 4S..1940 M-N
Newi)
103
103
<!>'ee
Am SM Coot Vag58....1920 .M-N
B'kl'u FerryCol8tcon8g58'4S F-A
ChicJc<foSt Yard col gas. 1915 J-J
& D D 58(^1990
N Y Dock 50-yr Ist g 4s.. 1951
Provident Loan Soc4Sjs.1921
St Joseph Stk Yda 1st 4 Sis. 1930
Sjt L Ter Cuppies Stat'n * Prop
Co l8lB4i29 5-20 year.. 1917
S Yuba Wat Co con g 68.. 1923
Sp Val Wat Works lat 68. 1906
s I g 6g.
Red & Ref lat
Ist at
6g.l931
1931
U S Red&
66
56
56
10734 iroT'04
75
50
Feb '02
9534
96 Si
Mar'05
57>9
75'"86"
75
J-J
F-A
M-S
96
99
Sale
100
J-J
11
94
98
Si
96i«
100
103 Si
J-D
J-J
MS
95
....
91
91
Si
Sale
112 J'ly -04
llSSjJ'ly'OO
91
92
29
8339 92
oDueJan ODuoFoo cDueMar rtDueApr /iDueJly /cDueAug oDueOot pDaeNoT aDoeDeo «OpUos9al«
CHiUA&O STOUK EXCHANGE— Stock Record—Daily, Weekly
STOCKS—MIOMEST AND LO WEST SALE PRICES
Monday
March 2?
Saturday
March Ho
Friday
Thursday
March 30
Wednesday
March 29
Tuesday
March VS
STOCKS
",1
EXCHANGE
March 31
Mange for Year
1905
Sales
"^«
CHICAGO STOCK
and Yearly
lor Ireviotit
Year (1904 J
Highest
Lowest
Shares
Bange
Lowest
Highttt
37^8 Jan
37^8 Jan
Railroads
LattSale
196
196
•188
199
•
Jan
37''9
'04 Chic
196
"53"
"53i4 Chicago
...„....„.
54^^
6454
*
12
•
36>2
85
'23
85
*64
66
5414
*10>a
24
•
23
23^4 *
60
»2
111^
11»4
66 Sk
• 7713..
*66
40
'
•105 ig 110
*56
60
*10
60
65 14
'130
54
7913
5534
.-,71..
•10
*6ia
*6»2
*6^
*6l2
68
68
68
bbh 69
68
•IOSI4
e'iSi
120
46
'
i<>i34io9"
lOit
5934
ti'-i^s
120
47
115
120
-45
49^4
-"'H'e
138
l::S'2l39
LastSale
68 "a 69
2i>>a
"V'i"'-1<
21,
11',
ll^e
33'^
-ii
LastSale
59S8 60^
iO
60 1^
II8I1 11934
46
115
63i<2
6siv
91 Hj
91'-,
"2'9"'23;
••v/^-",yi;
lll-i
ll";^
36
34
35
34
"v
46
115
J an '05
106
i("i]'"
71
941s
Last Sale
....>
i0»8
Dec '04
"2'4"*2-\
2''-4
"23;
LastSale
35
35
.....
12
12
12
12
1134
ll->4
i-'entral Trust Bank. .100
Chicago Auditorium
ClucBrew'^&Malt'g
120.
N'ov'04
10
35 12
38
Milife
BOND.S
Week
e.nding
March
31
Amer Biscuit 68
1910 F-A
Amer Strawboarrt I8t6s..l911 J-J
J-J
Cass Ave & F G (8t L) os. 19
.
100
IOOI4
.
IOII4
103
.
J-D 103
.
1
W
4-408 Series
4-t>08 S<rie«
4 -808 ScrKMi
People's Gas
O
E
F
L&C
J-J
J-D
J-J
Note— Accrued interest mus
65
104
....
A-O no3 12 1041.2
F-A
100
A-O
Jiigh
IO1I4
loo
99 'a 100 14
'05
101
Low
14
103i4Feb'05
103 Jan '05
103 Apr '04
65 Mar'05
103i8Jan'o5
104 14 10414
98 Feb '04
103 '4
103
62
103
104
If;
66
103
'4
10434
'•2
12
10034 Nov'04
78
Sale
M-N
-M-S
M-S
107
14
Wi-N
10734 10734
100 '6
A-O
971a 98 S
J-J
97
F-A
J-J
J-J
95>4
J-J
A-O
M-N
M-S
M-N
J
-D
97
7834
10734
Mar'05
9712 Mar'Oo
9534
96
89
99
8978
9713
98
99
95 Mar'05
94 14
95
9118
941*
99 14 Mar'05
9914.
99 14 993.
99'4M'ar'b5
100
100
126 V 123 la Sep '04
107 107 3t 107 la Feb '05
108 '4 108
108
I07I2
10634 107 ? 1071a
ibo'4
1.J
J-J
104»»
J-J n04»Bl04»f 104
J-J 1 02 la 103
103 Mar'05
A-O 106 12
lOO'fcFeb'Of.
M-N
114 Nov'04
.M-b
81 J'ly '04
1
F-A
M-N
M-N t94
FA
J-O
M-N
70
'87"
98
90
90
Sale
J-J
A-O
I
be wlded to
all
11
Chicago City
(;hicago National
Chicago Savings
Commercial National.
Continental National.
Cook Co State Savings
Corn Exchange Nat.
Drexel State
Drovirs Dep National
Foreman Bros B'k'g Co
Fort Dearborn Nat
80
68
Apr '04
Feb '05
Bankers National
Calumet A'ational
First National
First Nat Entrlewood.
Nov'04
.
FA
J-D
98
96
89 'e Sale
99 100
9712 99
90
921a 95
94 'e Sale
94
100
M-»
J-J
76
79
80
91a
Fob
Aug
Sep
Sep
Nor
Not
8
27
Not
Not
De«
Not
4 Feb 15
27i2May 45
31
85
26
68
88
28 "a Dec
80 14 Nov
Mar
Mar
Mar
15
41
65
15
44
90
28
Sep
Oct
Sop
Jan 2634 Not
Apr 67 la Not
Mar 981a Not
Jan 34 Oct
82 la Apr 103 J'n«
38 Apr 56 la Sep
Feb 2K
12=8
9
Jan
52'2Miirlt;
7
..*•••
44>2Mar27
2 Jau 30
"54"
ii'455
Jan 2."^
li48 114
Jan 5
627 41 Jan 25
10 110 Jan 5
106 Jap 11
46
65
2,823
1-2
"2
2
Deo
Deo
Mar 79 la Dec
31a Jan
3134 Jan
40
121a
6434
H514 Jan 1231a Sep
19 J'ue 401a Deo
Aug 941400*
Mar 198 Maj
Nov 40 Not
10034 Mar 110 Feu
52 Feb 62 An»
82
183
33
120
10
......
Jan 17
Jan 30
'
6234 Mai-Vi
l2t)iaMarl6
47 Feb "8
115 Jan 31
106 Jan 11
Jan
IOI4N0T
J'ly 12334
1
Oct
Jan
7
Feb
140 May
18 J'ly
115 Mar
86 Fell
12(ii2Feb
Feb 6 19 Mar 2 4
Feb 15 7334 Mar22
11
63
1
14
Not
Feb
I7312N0T
8
36 Not
147 la Not
lOS Oct
142 la Not
121a
761a
Dec
Dec
Oct
J'ne
12
52
20
7 la Nov
9
3i3Mai
38 la Mar
lOiaDec
50 Jan
42
134
Feb
Aug 51
2I4
Apr
Nov 25
Jan
Dec
Jan
Jan
Sep
20
36 Jan 68 la Deo
99 la Jan 1161a Nov
25i4Mar 461a Dec
95 Jan 120 Sep
98=8 Feb IIOI4N0T
i06" Feb25 iii Jan 6 "99^8 Apr 116i.jNoT
46 Jan 25 71 Mar31 3534 J'ne 47iaJan
aeiaJan 4 94i2Mar30 75 J'ne 87 Not
......
......
.
l'oPeb2ii
10 Jan 3
23
.....
......
23pJan 4
1238Mar31
Feb 15 38
Mar30
OutstandSurplus <t
ing
In
Pro/Its
Stock
1903
Jamiary 1
Migli Xo.
Jan
13'8Feb 3
17
100
NAME
Since
't
J-J
J-J
J-J
M-N
M-N
ist 68. 194
A-O
1947 M-S
Refunding g 58
Chic Gas LI AC Ist 58.. 1937
Consumers' Gas Ist 58.. 1936
8t LouisBrcw'K A88'u68. 1914
South Side Elev 4 vs
1924
Swiltife Co Ist g 58
1914
Union ¥A (Loo))) 58
1945
Union Pacillcconv 48
1911
U S BrewiU'j; .-s
1910
United Breweries tis
1928
U 8 Steel Corn 2d 58
cl963
West Ciiic St 1st 58
1928
Tunnel IstOs
1909
Debcut 68
1914
CouHOl g fi8
1930
West Div City Ry 4 "28.. 193-.'
WcMt'ru Stone Co .J-20 5H. 1909
106
Pange
or
Last Sale
Ask Low
Sid
Chic Boar.i of Trade 4m ...1927
Chic Consol Br & Mlt 68
Chic ou.soiTiac4ia8
1939
Chic Edison debent 68....1913
Istgold 5s
A1926
Chio Auditorium Ist 5b. ..1929
Chic Dock Co lst4s
1929
Chio Equit Gas 6s
1905
Chic&MilElecRy 58....1919
Chic Pneuni Tool 1st 58 .ol921
Chic Rock 1 & Pac RR 48.2002
CoUat Trust a ns
1913
Commonwealth Elect 58.ftl94:'>
Kans City Ky& Lt Co 58.1913
Knickerb'cker Ice let 58.1928
Lake Street El let 58
1928
Metr
Side El Ist 48
1938
Extension g 48
1938
Norch Cliio St Ist 58
1906
l8t 58
1909
Refunding g 4'-^8
1931
No Chic City StRy 4 '•^8.1927
North West'n El Ist 48. ..1911
Ogden Gas 5h
1945
Pearsons-Taft 58
1916
4-408 B B B
1920
Pange
6
Mar 190
714001
34 J'ly
7
10
14
J'ly
10«Bl3eo
339
2034
Not
Jan
Feb
251a Deo
Nov 19
Sep
Chicago Banks and Trust Comnanies
Week's
Price
fViday
March 31
200
& Coke
Western Stone
37
912 Jan 3
3934 JtarSO
MarSl) 143i2FeblT
95 101 la Mar30 10534 Mar 6
546 134 "2 Feb 1 140 Fel21
10 J an 4 11 Si Jan 16
800 65 Jan 9 71 12 Jan 16
ChicBrew'g
Weaver Coal
23
1,270 32
8 138
100
100
100
National Carbon
Do pref
100
People's Gas L & C'kelOO
PuUman Co
100
St Louis Nat St'k Yds ....
-iwiftcfcCo
100 "236
The Quaker Oats Co.lOo
788
Do pref
255
100
Un Stock Yd8(So Om)100
Union Ba'jr & P Co ...100
Do pref
100
Unit'd Box Bd & P ColOO 4,169
Do pret
100 5,220
CMcag-o Bond Eecord
CH ICAGO STOCK EXCH'GE
pref
Do pref
61
National Biscuit
Do pref
1193t
60
119i«
•44
io8 'ibsii ib834
67 12
6914
66
9413
94
941.J
921-.
tf-JHi
Jan ''60
Kov'04
•
La s t s'a ie
100
& Cliic Canal & DlOO
Do
Mar28 734 Jan 6
Mar 7 24 Jan 31
o3i2Marl6 56i2Feb20
6
20
60 Jan 25 69 Feb 23
40 76 Jan 24 79 >2 Mar29
125 Feb 21 130 Mar20
1,105 38 Jan lii 57 MarliO
240 98 1« Jan 17 105 12 Mar 2 7
"38" Jail "4 4(3" Jan" 4
105 Marl 7 105i4Mar21
56 Jaull 61 Feb 25
14s I2 Feb 23 150 Marl10 Jan 5 10 Jan 5
1
Jan 18
1 Jan 18
7 Jan 20
7 Jan 20
153 Jan 25 172 Feb 20
100
100
100
pref
155
.
Mai'Oo Chic Edison
100
50 Cliic Pneumatic Tool. 100
137V: Chic Telephone
'
100
100
100 GhicTiae& Trust... 100
139
139
Diamond Match
100
Mar 05 lUinois Brick Hecpts
i7 3y
69
69
Do prefRecpts
Kans City stock Yds. 100
18
J ^
Knickerbocker Ice... 100
7334 Mar'Oo
Do pref
100
J'ne'04 London & Chic Contr
17
Dec '04 Manufacturers' Fuel
y
Masonic Temple
118l4ll9-fc
*
Do
1
2,950
2,100
'
2
ibs" 10814 *III]!Iio9"
60 >4 62^4
'in
11*2
114
MarOS
105'^
Last Sale
•45
4(j u
114
AmerT<fc S Bank.. ..100
Booth (A) & Co
100
'05
Fei)'()5
Jan 'Oo
Jan '05
68 H
60
61
120
Jan
LastSale lb
Last Sale 1
Last Sace
Last Sale
Last Sale
61 Hj 62
IIH 120
•44 lu
•
115
Do pref
Amer Sliipbldg
Do pref
Feb 'Oil Cal
lOli^lom
44»a 4412
Mar'Oo
66
Last Sail iU
13S
-
la
56
Last Sale 7
Lam Sale 170
•
•168 170
170
170
46
49 Hi
46
46
46
*137i2
M40 142 •13712
103 103
103
103 *
137Hi 13812 13Hi-jl38k ,138% 139
69
•7912
LastSale
•10
•34
m^ni'h
661*,
Last Sale 40
'
='4
•169
45
4
Feb
199
5
51 Feb 2
30 .Tan 9 38 Feb21
"206 82i2Jan 4 85 Feb 3
100 20 Jan 18 24i8Marl7
5910 Jan 10 66 :Marl('
80 Mar24 99 Feb 2
"175 23 Jan 9 2412 Janl'i
100 60 Mar27 66 Jan 5
100 92 Jan 30 9714 Mar2(i
28 Feb 24 29i4Jan 4
100 97 Feb 3 I0314 Mar21
55 Mar24 72 Feb 3
10
J>Iiscellaneoas
Allls.ChaJmers
100
Do pret
100
III4 American Can
100
6634
Do pref
100
100
Amer Radiator
La St Salt
40
•lOSigllO
•56
62
40
'lOS^zllO
•56
62
20
Li ..100
100
62 ^
11
66
5612 57
104
104
1,017
24
Last Sale 16U
"^4
170
46
142
103
65
79I2
-\
•169
44
66
65'-!
55
•
•10
•23
•60
95
UI4
11
1114
*79»u
51
105 Vi
1(j5
40
*10o»3ll0
-58
62
•
•
*
11
65
liv,
66^4
•79Hj
51
12
•28 12
101^4
'V'H^
.Sal.
e
Do pref
221^
221, Metropol
S Elev..lOO
Mar'Oo
'i3^
Do pref
100
su
Mar'05 North Chio street
100
...... ..----
•931a 95
pref
&
60
Northwestern Elev..lOO
Do prct
100
95 South SideElev
100
Last SaLf iS\ Mar'Oo Streets WStable D 100
10134
lOliolOli-j loi;^
Do pret
100
Mar'05 West Chic street
LastSali o5
100
*23
•60
•28'2
Do
Max" OS Kans City Hy
W
Last
24
60
Subway
Jan
37 180
100
100
100
100
100
pre!
Chic Union Tract
103f
3934
39 ^i,
90
23^4
Do
LastSalt 36
•23
23
60
11
'WC/l'i"
641^
5379
LastSale
60
101
101>«il017e
54^.
IO'Ib
•95
95^2
•'iSb
asvj
'2^^
6378
......
36""36».]
85
85
•23
24
'
24
*60
543?
20
100
lOO
100
Chic City Ky
Chic Consol Trac
Chic Pass Ey
Chic & Oak Park
•189
199
20
& Alton
106^^ I08I4
Hamilton National
Hibernian B'k'g Ass'u
Home Savmsrs
.Manufacturers Bank..
lOO^BlOO't
97
97
971.2 98
.Milwaukee ^Vve Sr,ale.
9513 961-2 Nat Bank of Republic.
90 '2 National Live Stock...
86
95 100
Nortli Side State sav..
94
99 14 Oakland National
Peoples Trust Jfc Sav ..
94
95
Prairie National
93
95
Prairie State
88
96 iv Pullman Loan & Sav..
South Chicaco Savings
99 12 state Bank of Cliicago.
99
Slock Yards Savings..
90 '2 100
Union Stock Vds State
lUO 100
U S Bank <fc Trust Co
1-
1.2
'.,
.
105ial07«8
107'4 108''8
10612 10712
52 102', 104 ^
102i2l03i>
lOoSlOo'e
88 Nov'04
96 Mar'O.-)
94 100
70 May'04
80 ' "m"
90 Feb '05
90'->
87 •* 19 87
87
95 Mai'Oo
95 97
100 Jau '04
Chic ago bo nd price 8.
Amer Trust A Savgs..
Cfntral Trust Co of 111
Colonial Trust <fe Sav.
Drovers Trust & Sav.
Etiiiilable 1 rust Co
Federal Trust ifc Sav..
Trust & Savings
Trust .fc Sav..
lutiHuatloual Trust Co
.liickson Trust ^- Sav..
Kenwood Tr& Savings
Merclian Loan & Tr (Jo
Metropolitan Tr <t Sav
Northern 'J'riist Co Bk
Royal Trust Co
Union Trust Co
Western Trust «fc Sav.
I'lrst,
Illinois
2.000,000 .t;l,071,611
100,000
2,1,045
200,000
143,388
1,000,000 1,402,444
500,000
fc 64,53
2,000,000 1,783,400
3,000,000 1,327,281
50,000
4,636
3,000,000 3,567.276
200,000
15,586
600,000
273,089
8,000,000 6,215,626
100,000
107,529
Dividend Record
In Per1904 iod
13
15
12+3
'i'i'
12
8-i-5
Last Paid
%
Q-J Jan
'05,
J.J Jan
Q-J Jan
'05, 4
'05, 3
/.;
500,000
§500,000
500,000
1,000,000
100,090
200,000
250,000
2,000,000
1,000,000
50,000
50,000
200,000
250,000
250,000
300,000
200,000
1,000,000
250,000
200,000
1,000,000
2,000,000
4,000,000
200,000
200,000
500,000
2,000,000
1,000,000
4,000,000
200,000
250,000
200,000
3.000,000
750,000
1,000,000
500,000
1.000,000
1,000,000
640,546
202,737
142,224
1,030,106
149,618
1;%104
251,372
953,827
1,291,4 52
8
6
12
6
8
1112
8
6
12
6
8
12
Q-J
Q-J
J-J
Q-J
Q-J
Q-J
Jan
Jan
Jan
Jan
Jan
Jan
Jan
10
Tan
6+4
Priv ate Ba nk
6
6
Q-J Jan
"8
"s
10
10
"e
"6
6
15
6
12+3
j'-j
Jan
J-J Jan
J-J
Q-J
Q-J
J.J
J-J
.Tan
Jan
Jan
Jan
Jan
lia
2
3
3
'05,
lia
6
7
1
6
4
5
6
6
Jan
Jan
Jan
Jan
450,000
850,544
8
8
Mar
4
Jan
No
2
3
3
'05, 4
'05, 5
'05, 3
'05. 1>«
'05. 3
'06, 3
5,253
6
'05.
49,489 "6
6
3,169 New Bank
55,908 "'8
"1138
06,234
vJ-J Jan '05,
175,641
Q-J Jan '05,
8
8
Jan '05,
29,906
5
594,422
6
Q-J Jan '05,
85.724
5.734
New Bank
1,000,000 Proje cted I nsti tution
1,374,721
1,397,000
97,541
44,73s
3
'05,
'05,
'05,
'05,
•05,
'05,
'05,
'05,
'05,
'05,
'05,
'05,
'05,
'05,
3
2
2
1
li«
4
1
II4
I1.J
4
1
59,j,580
0,188,033
12+4
Jan"'65,"»"
16
Prole clod I nstitu
53,846
3,271 iSe)ran Jan 3, 190
Jan '05, 3
3,583,904
12
12
Jau '05, 3
231. 537
6
6
8
8
Q-J Apr '05. 2
1 .680.:.03
427.60)
F-A Feb '05. 3
6
6
530,14ti
171,95;.
"6
Q-J .Vpr"'05,"i'i9
i (Japital to be increased to «1, 1)00,000.
Also pal<l 12 '.j "0 lu IJ((C., 1903, lu stock of First I'rust it Havings Biiiik,
1| Includes special divideud of
decbiroit Aug. In, 1004.
• Bid and asked prices; no sales wm-e n lado on iliis day.
a Due Deo. 31.
price Friday; latest pnco tills week.
i
t» Due June,
c Duo April.
/i Due July.
& Capital and surplus to 1)0 increased.
||
2
30%
Ape.
THE CHKONICLE.
1905.]
1,
Yolume
(ias ii^ecttritiea
fndiana Nat & 111 Gaa—
Business at Stock Exchanges
of
Ist 68 1908
Indianapolis Gas
TBAJNSACTIONS AT THE HEW YOBK STOCK
DAILY. WEEKLY AND YEARLY
Stocks
Week ending
Bailroad
jH'arch 31
1M5
Saturday
Monday
Tuesday
Wednesday
Ist 68 1920
Jackson Gas Co
BXCUANQE
State
V 8
Bonds
663,097
1,033,749
1,059,987
878.163
$63,149,700
99,488,900
97,683.700
$2,098,500
$492,000
3,57i>,000
745. .iOO
2,695.000
80.358,8(10
3,50i'.000
671,146
791,199
61,ti33,'225
3.448.500
4,706,000
321.000
228,500
457,500
179,500
$3,6o6
16,000
$20,027,000 $2,424,000
$19,000
Tliursday
Friday
74,883,200
5,097.641 $477,197,525
Total
Sales at
New York Stock
January
Week ending March 31
Exchange
$54,400
$6,900
$394,050
$154,800
$19,000
2,424,000
20,027.000
$27,000
8,803' O'io
*94,050
41,998,800
309,706,700
$376,200
188,000
162,659,500
$22,470,000
$8,830,000
$351,799,550
$163,123,700
shares, par..
Total bonds
Week ending
March 31
Unlisted
shares
Listed
sharef
1905
Usted
sales
shares
S60,200
103,700
121,500
24,127
64,925
28,622
214,448
64,616
$806,600
7,869
13,104
12,274
6,064
8,748
10,265
$16,000
138,500
119,500
51,300
65,000
56,600
21.825
38,410
193,105
58,324
$446,800
Monday
Tuesday
Wednesday .
Tbursday
Friday
sales
3,350
15,617
8,825
18,158
12,033
6.633
37,384
40,549
34,443
30,599
27,434
22,696
Saturday
36,4:^9
101
40
103
105
35
45
110
137
5
24
30
76
106
no5
93
120
98
100
17:^
175
128
85
125
80
103
28
10
34
BlriL'lOO
126,-200
320,500
69,500
5914
14
Securities. 100
Douglas Copper
Electric Boat
5
& Tenn Copper
Gold Hill Copper
39
83
Companies
Weekly Review of Outside Market will be found on a preceding page.
Street Railways
Bid
NEW YOBK
CITY
Eul E stk 100
Bleeck St A
11l8tmort48 1950 ..J-J
32
95
243
104
Ask
Street RaUvraya
34
IJLouisv St58l930..J&J
Lynn<fe Bos 1st 58 '24. J-D
98
248
7tliAve3tk ..100
107
1[2dmort 58 1914 ...J-J
Con 58 1943 See ijtock Exch list
110
B'way Surl Ist 5s g-u 1924 ao8
2d 5s iut as rental 1905 i 99 Hi 101
360
UCent'l Croast'u stk.. 100 340
121
111st M 6s 1922 ...M-N ni7
}CenPkN&E tl stk. 100 206 212
IIB'y
&
&
D E B & B—
lOtli St stk 100
Clir't'r
iol& 9th Ave 58 See Stock
Dry
Hist gold 6a 1932. ..J-D
llscrlp 53 1914 ....F-A
H Eighth Avenue St... 100
IJScrip 68 1914 ....F-A
S42d<fe QrSl F'y stk. .100
2dStM&
StNAv..lOO
177
List
112
100
390
103
405
50
115
102
405
Pav F 5s
Second Avenue stocklOO 206
Hist mort 58 1909 M-N J 103
Cousol58 1948.... F-A ni5
TISixth Avenue stock 100 174
Sou Boulev 58 1945. .J-J no2
So Fer 1st 5b 1919. ..A-0 U05
Third Avenue See Stock KxcU
P & M 58 1928 210,)
Tarry
YkersStRK 5s 1946A-0 5106H>
W
28th & 29th Sts 1st 5s '96 4112
HTwenty-Th'd St stk 100 390
J-J
100
Deb 5s 1906
Union Ry Isl 5s 1942 F-A nio
Westchesi 1st 5s '43 J-J nio
Jl2
104
117
178
106
108
list
Nortli Chic Str stock. 100
Pub Serv Corp of N JlOO
Tr ctfs 2% to 6% perpet
Coll trust 5s gold notes
1909 optional
M-N
North Jersey St Ry 100
..=:t48i948
M-N
Ccus Trac of
J. ..100
J-I)
Ist 68 1933
Kewk Pas Ry 58 '30J-J
Or & New isl 68 '05 A-O
Essex Pas 6s 1905 M-N
Rapid Tran St Ry..lOO
1st 58 1921
A-O
J C Hob<fe PatersonlOO
48 g l!U9
M-N
So J Gaa El & Trac 100
N
101
113
113
Preferred
Gen 4s 1934
Ave
58 1909.. A-O
W E 53 1933. .A-U
Brooklyn City stock. ..10
Con 68 See Stock Exch
Bkln Crosstn 5s 1908. J-J
BknHgtsl3t5sl941 A-U
BklnQCoite Sub <bee Stk
Bklyn Ray Tran See Stk
HConeyls. <&Bklyn ..100
1st cons g 4s 1948. -J-J
Erk C & N 5s 1939.J-J
Gr St&New 1st 5s '06 F-A
Gr'pt <&Lorimer St 1st 6s
Kings
UnitRysSanFran
21
26^!
'V2'2
75
136
73
«98
29
S79
82
§109
80
138
73I4
OS's
80
^li
1;
.•:-3
110
Ui4^2 il5
^aoo
410013
255
no9
Ul
77I2
127
128
105
LIT)
1-2
113
iu7
95
1U9
,
i
273j
76 Hi
Exch
Exch
100
100
35 14
93 14
35H2
93:^
J-D
89^8
8934
55
88
60
West
Chiciigo St
100
liCon g 53 1936.. ..M-N
103
238
104
242
list
102
104
105
Exch
Exch
list
list
340
99
113
100
102
3:j0
Exch
list
1st consol 5s 1948. -J-J
100
115
Gas—
1st 58 1944
J-J
J-J
Consol 5s 1945
N Y & Richmond Gas.lOO
Nor Un
Ist 58 1927. M-N
IJStandard Gas
ViPreterred
ist 53 1930
OTHKE
Amer
75
East River
Light
com
list
list
110
h list
Ust
310
nil's 113
ni3Si 115
nio
35
no4
113
107
150
170
130
155
110
..100
100
M-N
1121.2
CITIHS
&
87
84
Tract. 100
A-O 110 113
Preferred
100 104 105
A
I4
li Exc h list
Bay State Gas
50
N Wb'g&Flatlstex4>->s 101 104 Binghamton Gas 5s 1938 t? 951-2 98
St«inway Ist 6a 1922. J-J U19 121
Brooklyn Union Gas deb
193
68 1909 conv '07. ..M-S 191
8
Buffalo
7
City Gas stocklOO
OTHER CITIES
5s 1944
1st 43 1951
See St
BoiTalo Street By—
1st consol 5s 1931.. F-A
Deb 63 1917
A.o
Chicago City Ry stk. 100
Columbus (O) St Ry..lOO
Preferred
Colum Ry con
Ss
See
N
Consumers' L K
nio
no5
1961-2
loo
110
Ph
ila list
Crosst'wn l8t5a'33.J-D
100
Prelerred
100
Lake St (Chic) El stk. 100
1st 53 1928
J-J
Grand Rapida Ry
1st 6s 1947 See Stock
Coiisol Gas of
J. ...100
II2I2
Ist 6s 1936
J-J
no9
68
jBuyer pays accrued interest.
90
Grand Rapids Gas
Hist 5s 1915
Hudson Co Gas
1
<fc
Pow
58 1938
J-D
10215 HDetroit City Gas
50
Elizabeth Gas Lt Co.. 100
Essex tfe Hudson Gas 100
111
Fort Wayne 6s 1925. .J-J
65
Gas & EJ Bergen Co. .100
Price
p-ar
Exch
list
50
101
no Hi
ni2
75
300
250
Hi
128 H2
50
61
F.A noi
100
share. tSale price, a
Ex
H>
9
45
60
102
11
34
1
^R
Greene Con Cop See Bosi Stock Exch
Greene Consol Gold... lo t 718 714
18
H ackensackM eadows 100 10
Hackensack Water Co—
1st g 5s
June
Hecker-Jones-Jew'l .viui
Chicago Edison Co. ..100 165 170
1st 6s 1922
.M-S
"jKlngsCo Kl LifeP Co 100 195 205
ixlOO
aerriiig-Hall-MarviulOU
Narragan (Prov) El Co 50
65
68
1.
St
prelerred
El
100
L&PowColOO
y
89
92
2(1 preferred
Preferred
100
100
25
Hoboken Laiid<lc ImplOii
UuitedElectrioof N JlOO
771,
J-D rn
1i5s 1910
M-^
48 1949
Houston Oil
100
Ferry Companies
Preferred
100
312
Brooklyn Ferry stocklOO
4V Hudson Realty
105
lOH
lnteriiat'li4:uilrin,L-ColO(i
B<fe NY 1st 63 1911. J-J
84
[nt'n'l :\Ierc Marine. loo
N Y <fe E R Ferry stk. 100 77
88
92
Prof erre(
M-N
1 00
Ist OS 1922
Col tr deb 4 '2l02jop'07
N Y& Hob con 5s '46. J-D no934
International Salt
Hob Fy Ist 58 1946 M-N nio 111
100
1st g 68 1951
N Y <fe X J 1st 5s 1946. J-I no5 110
International Silver, lou
SoBlyknFdrry&St
101
Preferred
100
Transi* ist 63 IWOoM-N
40
60
1st 6s 1948
J-D
10th & 23a Sts Ferry 100
95
Lanston Monotype
20
Ist mort 68 1919. ..J-D i 92
31
34
Lawyers -Mort Insur.lOU
1[ Union Ferry stock .100
99
101
Lawyers' Title Ins. ..100
M-M
Hist 58 1920
Lord & Taylor pref ..100
Railroad
HLoriilard (P)pref ...100
Mack IV Companies ..lOu
Atchison conv 4s (w i)... 102 'fc 103
Preferred
100
Cmc Peo & St L pref. 100
3
Madison .Si; (iardeiL.lOO
Deposited stocK...
3
2d 6s 1919
M-N
Undeposited stock
109
1I.Vlanh.att Beach Co.lOO
Prior lien g 4 i<2S'30M&S 106
90
92 Hi -MauUiittan Transit
Con mtg g 5s 1930.J&J
20
16
Mex Nat Cou.struc.pflOO
Income os 1930
Monongahela
It
Coal.. 50
HFort Worth & Denver
CO
62
Preferred
City (-tamped
50
100
95I4 Mont & Boston Consol .5
95
MoPacific new 4s
Mosler Safe Co
y Ueul lieb 4s '34.M-^
100
Nat Bank of Cuba
Northern Pacific
100
lot)
170 185
Euam&
When released
Stamp
IINat
100
liPreterred
Nortlieru Securities.. 100 160^4 161
100
650 750
National Surety
Stubs
100
Pitts Bess ite L E
IINew Central Coal
20
50 f 40
Preferred
N Y Biscuit 68 1911. M.S
60 t 76
Seaboard Air Line—
N Y Mtgecfc Security. 100
Oolltr5sl9uV op. ..M-S 100 1001-2 II New York Dock
100
2612
25
New common (w i)
100
li Preferred
851.2 N Y^ Transportation. ..20
82
New Ist pref (w 1)
54
New 2d X)ref (w 1)
52
Nor AmLum'rifePulplOO
1
Rights
llOntario Silver
100
60
Otis Elevator com
Va & Southwestern. .luu 52
100
Preferred
100
Industrial and Misccl
Phoenix Mining
1
Pittsburg Brewing
Alliance Realty
50
100 115 125
80
t
75
Preferred
60
Amer
Bank
Note
Co.
50
H
11
IIH; Pittsburg Coal
American Can com... 100
100
6634
Preferred
Preferred
66
100
100
Pope MauufiiCturing.lOO
American Chicle Co. .100 126 l;;o
100
Isl prelerred
Preferred
96 luo
100
I4
loo
2d preferred.
American Elevated
" 26''-2
28
Pratt & Whitn pref.. 100
Am I ce Securit's ( w ij 100
78
Realty Assoc (Bklyn)lOO
Debenture 6s
? 76
Royal BakPowd pref. 100
AmMaltinaOs 19 U. J-D 105 1U6
212
Russell
& Erwin
25
American Nickel
l''.i
1
t
Amer Press Assoc'n.lOO 100 105 Safety Car Heat& Lt 100
4
Singer Mfg Co
100
Am Soda Foun com. .100 2
Standard Coupler comlOO
68
63
1st preferred
100
12
Preferred
100
9
2d preferred
100
195
Standard MUliug Co.lOO
Anierican Surety
50 188
Preferred
100
Amer Tobacco (old).. 60
5s
Preferred
See Stock Excb list
290
Standard
OU
of
276
N J. .100
Tobacco (new) Com
,50
Pretd
See Stock Exch list Storage Power
list
Swift <fe Co See Boston St
4s and 68
/See Stk Exch
>!..,
Am Typefo'rs com... loo 37 42 4 ' 1st 53 1910-1914 J-J
Tennessee Copper
100
26
Preferred
98
100
6 14 UTexas & Pacific Coal 100
6if
Amer Writing Paper. 100
34'-;
1st 68 1908
A-O
Preierred
34
100
Title Ins Co of N Y..100
86^4 HI
5s 1919
J-J
Tonapah Min (Nevada). 1
Arizona Con Mining.. .50 t;i2'- 33
TrentonPotteries
4
com 100
Baldomero Mining
5
Preferred new
1934
23
100
Barney
c&Sm
Car ...100
II
Trow Directory new. .100
100 130
II Prelerred
32 12 34
Union Copper
10
Bethl'm Steel Corp. ..100
Union Typewr com.. 100
89
87
Preferred
100
1st
preferred
103
100
CoU.tr. g.s.f. 6s 1914
2d preferred
loo
Bliss Company com
50 140 150
Unit Boxboard& Pap. 100
Preferred
50 130 145
Preferred
lOu
Bond& MtgGuar
100 410 420
151
U. S. Casualty
\Qv
Borden's Cond Milk.. 100 148
II5I2 U S Cotton Duck
Preferred
100
100 113
8
U S Envelope com... 100
ol Copper
5 t
T'iBriti.sh
'4
1*
1 00
Camden Land
3 t
II Preferred
123
U S Leather new (w i) lOu
Celluloid Co
lOo 121
20
Preferred
15
new
i)100
(w
Fireworks
Gent
com. 100
New OS (w 1)
68
75
Preferred
100
4it U S Steel Corporation
3^4
Central Foundry
100
22
23
Coltr sf 5s'51 opt '11
100
Preferred
Coltrsf 5s '51 not opt.
80
Deb 6s 1919 op 'OlM-N 79
175
U S'lit Gu<fe Indem.lOO
Century Realty
100 165
Universal Fire Exi'r.lOO
Cuesebrough jMfg Co 100 440 ISO
Univer.'ial Tobacco. ..100
105 112
City Investing Co
PrefeiTed
100
1]Claflin(H B)com
100 106
Westchester
& Bronx
99
96
1|l.st prelerred
100
Title & Mort Guar Co.
100 100
1I2d preferred
Westingh Air Brake. .50
79
Colo Industrial 5a
i 76
80
White Knob Mining. 10
65
Col & Hock Coal<fe I pf 100
New stock (w 1)
92
J-J i 85
Ist g 58 1917
Pump pref.ioii
Worlhinir
Compressed Air Co... 100
^
he
N
964
?95
85
12
95
36
32
39
79
1 '22. J-D
1
33
41
82
102
106
I4
1
20
30
3
6
200
no3
103 H»
5 '4
28
110
166
6
30
170
13-\
14
3414
34
821-2
84
28
69
29 H»
72
12
52
H;
It
i
t
t
49
103
Hi
lo4Hi
1534 16
187
192
327 Hi
101 103
140 160
3934 40
75
75Hj
20
25
70
90
10
14
4%
434
7
t
10
1
27
t
lOig
IHe
13i«
100
115 Hi
23
24
93
90
136
42
45
105
177
172
24
20
62
68
f
7
7Hi
3
52
3H>
54
lo7
lu9
1^4
t
t
t
lOSV^
11315 II414
rights.
asExdiv
109
61
250
650
20
120
9 Hi
••..«
7
10
40
38
81
614
82
620
H>
=8
t
k E.xc h'ge
noo
t
103
27
26
75
85
110
205
no5
t
195
15
18
91
65
16
20
94
76
>4.
«8
\
95
118
118
93
-i\^
116
2I4
12ifl
238
I212
195
6
8H.
18
85
45Hi
,
H sella
-
77
22
**
162
110
63
265
665
25
100
157
>
{New stock.
46 Hi
16
671*
5H:
t
80.
6c.
26^4
74
20
'-4
,
95
{93
127
h
5
Am
Cent Union Gas Istoa... no8
Con Gas (N Y) stk. Sec St k Exc
Conv deb 6s ctfs /S'eeStk Exch
IJMutuai Gas
100 290
New Amstenlam Gas
NY&
14
24
.
26
See Stk
6'eeStk
Preferred
48 1951
Co. Elevatei-l—
Ist 4s 1949 See Stock
Nassau Eleo pref
100
6
20
?85
Gas Securities
NEW YORK
a 02
A-U 113
Con 58 g 1931
Impt 53 See Stock Kxc h list
BB&
100
Wash Ry & El Co
BEOOKXYN
Atlan
Ask
113-4
U2112
Gng5s 1953
M-S no3
No Hud Co Ry 68* 14 J-J 114
J-J iilX
5s 1928
Ext 5s 1924
M-N
Pat City con 6s '31. J-D il23
2d 6s. ...1914 opt A-O noo
So Side El (Cliic) stk.lOO
Syracuse Rap Tr 53 194G no7
United Rys of St
27
Com votir ctfs
100
103
114
400
J-J
New commou (wi).lOO
New preferrediw i).100
415
70
107
85
207
See Bl k Exc list
Metropol Securities See Stk E X list
Metropol Street By See Stk K X list
Ninth Avenue stock. 100 185 192
<fc
100
100
Preferred
4128 1952
185
Exch
Ulstmort 63 1910 .M-S 1041-2
80
if2d income 6s 1915 J J
Inter borough Rap Tr. 100 206
Lex Av
NewOrl RysCo
Bid
ni3
nio
11
20
35
NY&
A
1-2
IHi
t
Relg 43 52 op 12. ..J J
Hall Signal Co
lOo
Havana Commercial. 100
Preferred
lOit
Havana Tobacco Co..lO(
Preferred
10(
108
87
^
t
t
5
1
7
41
t
1
Outside Securities
1
U34
100
100
Ga
85'
J Teleph... 100
'i Northwestern Teleg. 5(
25
='\cific & Atlantic
Southern & Atlantic 26
TN Y&N
Cramps' SlicfeKn
100
Preferred
100
Electric Lead Reduc'n.50
Preferred
50
Electric Vehicle
100
Preferred
100
Electro-Pneum'icTranlO
Empire Steel
100
Preferred
100
llGeneral Chemical ..100
I Preferred
1 00
125"
Stock
1905
Hudson River Teleph 100
19Hj
Uommion
47
120
tfc
7'«
»4
li
100
100
114128,
65
19
H Preferred
9712
Telephone
TelegT
90
irAmerTeIeg& Cable 100
:iCentral& So Amer. 100 118
115
Commer Un Tel (N Y).25
Emp & Bay State Tel 100 SO
7
66
15
100 103
Cuban 6s of 1896
Diamond Match Co.loo 1381s 139
111
3
i
Ry Ltg&Refrig.lOO
Ask
Consol Rubber Tire. .100
Debenture 48
Cons Storage Battery lou
IjCruoible Steel
861-2
nio
73H;
Bid
60
NY&
Bond
Unlisted
shares
97
30
A-O
Electric
Philadelphia
Bond
i
Industrial and .^lisce
Consolid Car Heating 100
IJCons Firew'ks com .100
TlPreferred
lOd
10512 Cons
T]0<fe IndCNatifc lU .100
J-D
1st 63 1926
Pat <fe Pas Ga-s & EleclOO
08 1938
)j
EXCHANGES
Total
No Hudson L H & Pow
Franklin
DAILY TRANSACTIONS AT THE BOSTON AND PHII,ADELPH1A
Boston
81
100
100
95
100
Lafay'eGaslst 6s'24.M-N
Log<feWabVlst6s'25.J-D
Madison Gas 6s 1926.A-0 no6
Newark Gas 68 1944. Q-J n36
Newark Consol Gas. .100 S6'4
S-D nioi-2
llCongSs 1948
IIGold
BONDS
9-OTernnient bonds
State bonds
BR. and mis. bonds
63
&
1904
75,170,484
32,490.839
2.087.955
5.097,641
Stocks—JM 0. shares
$477,197,525 $198,550,750 $6,963,748,225 $3,006,740,875
Par value
Bank
50
50
A-O
Ask
38
M-N no5
1949. ...M-S
II Cong 53
St Joseph Gas 5s 1937. J -J
March 31
1905
1904
1905
'0
1
Bid
M-N
53 g 1937.
Kansas City Gas
IlLaclede Gas
liPreterred
Bonds
<tc
Bonds
Par value
Shares
1225
90
46
98
984
97H2
\)U\
ni2
ni2
130
135
6
7
%
1
2
5
165
tl49
150
•*
t
134
118
2
122
on Stock Exchange, but not s very active security.
BOSTON STOCK EXOHA.NaE-Stock
:Slinj-e
Satxirdav
Jfarch i5
Monday
March 27
89^8 89 7g
10214 lO:^ '4
103
— Not
Prices
Tuesday
March i8
Record,
Per Centum Prices
SlHICK.-*
Thursday
March 3U
WedTiesday
March 29
"Daily,
Mange
Hales
BOSTOX STOCK
fYiday
Weekly and Yearly
0'
Kange
year
/or
tor Previous
Year (1904
1905
the
Week
March 31
Lowest
Share*
Lowest
Jiighesl
Higti^st
KaJIroniliD
155
»248
180
88^4
aJ8>.i2o8>^ 258 1-^258
ir.5
155^8 154", 155
'248 ....
'248
155
181
180
•307
34 4
78»u
178
182
178
;
4^4
7d^
177
125
•175
178
125
Uei-i *146
76
»92
75
•92
....
180
181
180
1461* 146^4
1461a
76
*
Last Sale
•92
'
35
80
175
35
80
178
126
35
80
177
126
i«7 4 187 4
t
Last Sale
Last Sale
1464 146 S, '1434
Last Sale
75
92
93
....
180
Last Salt
3074 307 I4
34
79
•175
• <i2
ISHi
21
67^2
2534
*24»4
20 '8 21»4
69
70
25 14 2514
la
201 2021a
167 167
202 "a 202 12
209
209
209
•100
2034
6814
•241a
201
la
21
6fe34
68
25
2134
693,
84
*15
•54'a
•16
•64'a......
98 Hj 98^,
131
99^
84
'
98
OS't
12834 1311a
991a 991a
131»8
99Hi
99
97 14 97 1«
116
•644
97 14
116
97
116
98
93
128
99
173
97
116
99
704
•J
64
202
9.s7e
98's,
1304 128=8 1294
•99 4 100 4
t'9
173
97 14
974
147
Atch Top
Do
.
97^4
1164
Last Sale
Last Sact ^^4
116
116
147
147
23%
•16
1274128>4
116
116'ail6'a
';iii.'."84
'15 ....
•644....
*97
98
,
22 »e
Last Sail
'209
210
Last Sale
Last Sail
Last Sale
Last Sale
Last Sale
210
209
V.\'.'.'."ii'
69 4
•24 4
1.,
100>s '100
»
2134
•244 254
202
201 4 201
-a
20-^14
209
209
209
211*
88
1021-,
.
Last Sale
65
7g
2584
2;.0
l_'4ial24w,
•isfia.
1871a 18S
I8934 18f ^, 187'.^
'146
179
& Santa FelO( 1,872 85 4 Jan 25
pref
lOii
165 994 Jan 25
Boston & Albany
100
49 254 Jan 3
155
155
Boston Klevated
100
680 x\bi. Jan 25
248
Mar'05 Boston <fe Lowell
100
24J4Jau 3
180
180 Boston & Maine
100
233 173 Jan 3
174
Mar'05
Do pref
171 Jan 6
100
307
Boston & ProvidencelOO
20 305 Jan 18
344
344 Boston&Wor Elec Co
1,279 134 Jan 17
80
80
Do i)ref
3,l83 63 4 Jan 17
178
180 ChicJnncRy&USYlOO
456 160 Jan 13
124
124
Do pref
26 124 Jan 9
100
1874
Con <fe Mont Class 4 . 100
16 186 Jan 4
165
Mar'05 Conn & Pass Riv pre! 100
160 4 Jan 19
295
Mar'05 Connecticut Rivor...lO0
285 Jan 12
PitchOurg pref
114 142 Jan 3
100
75
Mar'05 Qa By<fe Electric
594 Jan )6
100
91
Do pref
200 86 Jan 4
100
185
Mar'05 Maine Central
175
Jan 24
100
2134
22 S Mass KlectricCos
100 18,502 134Febll
691..
69 4
Do pref
100 4,885 554 Feb 11
•24 •'8
25 <e Mexican Central
100 2 1 34 Jan 3
100
2014 2024 N Y N H & Hart.. ..100
603 198 4 Jan 4
Northern N H
8 165 Jan 1
100
232
Jan '05 Norwich <fe Wor pref 100
232 Jan 24
209
210 Old Colony
69 205 4 Jan 5
100
lOU^ Mar'05 Fere Marquette
79 Jan 9
100
S5
Mar'05
78 Jan 4
Do pref
100
6W4 Mar'05 Rutland pref
604 Mar 3
100
17
Mar'05 Savannah Elec com.. 100
15 Jan 13
Mar'05 Seattle Electric
50 Jan 5
100
9834
9834
Do pref
264 93 4 Jan
100
129 4 130 4 Union Pacific
100 31,131 113 Jan 6
99
994
195 9634 Jan 11
Do pref
100
5 172 Jan 18
Vermont & Mass
100
974
974 West End St
255 93 Jan
60
116
1164
Do pref
38 112 Jan 3
.
60
243»
Mai '05 Wisconsin Central.. .100
21 4 Jan 27
88
101
15434 15434
154'8l-''5
iiJ^
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305
313^
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81
102
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268 la 25^34 '2584 '260
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102
102
181
'305
341-^
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874
8SI4
88
8718 8734
10234 10234
8834
lt3
147
Dec '04
......
......
23%
23 \
90
Do
.100
WoicNash<fe Roch. .100
24 >«
91
119
119
23
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23
231s
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264
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256
254
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23
64
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256
255
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109
23
934
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89
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3114
113
4634
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20
101
90
21
101
93
99
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6
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79
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069
•
14
134
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1
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ai^fe
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7
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6
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1334
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•271a 29
2
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221.J
80
14
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32 S
679
679
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-15
173,
•
108
2
0'8
22
79
22
78
II4
20
90
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248
10
32
70
32
678
680
'4
•80
63*
638
17^8
7
174
17
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•33
79
54 54
214 21s
784 79 V
12
Last Sale
Last Sale
14
14
164
* 90
1
l'J4 *16
31
32
'4
•70
•70
0'8
6^8
675
676
•17 4
•32
14
1
164
32
65
32
673
673
•70
634
7
17
18
•33
•as
14
137 N E Telephone
100
Mar'05 PlantCom t'st stk com 100
Mar'05
100
Do pref
246
247 4 Pullman Co
100
•934
10
Reece Button-Hole.. 10
108 4 10»4 Swift <fe Co
100
23
Jan '05 Torrington Class A.. 25
Mai '05
26
Do pref
26
35"in Union Cop L'd & Mg. 26
3
112
111:
United Fruit
100
8.134 United Shoe Mach... 25
88
3334
,,334
Do pref
25
12
Mar'06 U S Leather
100
100
Do pref
100
C S Rubber
100
Do pref
3538
36
100
S Steel Corp
9534
06 4
100
Do pref
••65
25
West End Land
West Telep <& Teleg.lOO
100 4 IO04
100
Do pref
*90
92
Westing El <fe Mfg.. . 50
99
Mai'05
50
Do pret
iUining
54
26
54 Adventure Con
22 Allouez
214
25
7938
80 4 Amalgamated CopperlOO
11
Feb'1'5 Amer Gold Dredging
6
Mar'05 Am Zinc Lead <& Sm. 25
20U
29'4
^^34 Anaconda
25
*14
25
l^a Arcadian
••90
1
Arnold
25
1634
26
164
Atlantic
32
32
Bingham Con Mln&S 60
•65
•75
Bonanza (Dev Co)... 10
17
670"
-33
21^
15
15
82
117 117
•24 3
10
10
81
6
284
•24
6
2rt4
6334
65
14
6
63
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107
130
26
253,
26 4 26
4^8
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104 104
5 '8
6
44
44
2434
lu'4
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1334
284 28 4
24
104
75
134
63
(i
Cous Mercur Gold...
14
28
20
26
984
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27 4
274
1^8
106
1'b
106
•134
2
•1-34
2
•2
24
•2 4
718
2
7»8
7 '8
126
130
104 104
26 4
26 4
94
44
94
42
42-\
124
1234
44
HI
111
2
2
^etorKiiay'tofaaseas'tscaUedln 1006.
94
42
4
4
•124
110
•2
<t
114
14-'(,
123,
85
8534
Last Sale
4
7»8
10
10
6
6
2718
284
44
4=8
434
24 4
24 4
24 4
•34
14
26
99
28
14
26
99
28
2'j
99
28
99
28
106
105
lOG
2
2
2
734
2
8
127 4
128
1^8
"24 "24
74
126
7'8
127
9»e
204 27
94
424
42
4*16
13
13
110
24
438
Mass Consol
53
"*'ii8
10
3
Mai '05
4
9"(.
2634
•938
42 4
42 4
44
I't
•24
.3^38
101^8
Mur'05
27
44
184
110
13
111
110
2
2
•2
Before pay'l of asaesa'ta called
1
94
44
1314
112
350
5
50
46
11,483
4,989
65
194
133
2
420
1,320
:0,238
•BidandaakeiL
25
j
285
142
57
88
175
24
J'no
Deo
Kor
1624Jan
Nov
Deo
Deo
Apr
Jan
804 Jan
234 Nov
Feb 6
Jan 19
68
29
Mai 79 4 Nov
Aug 734i>eO
17
Mar20
Jan 13
40
Jan 42 Feb
May 95 4 J'ly
66
100i4Feb2_
1374 Feb 25
101 »8 Feb 20
Mar
175
99
2
Mar21
1164Mar23
87 4
7138
Mar21
Marl3
Feb 20
Jan 5
25
93
Mai 116''8Nor
864 Mar 974 Deo
160 May 173 Not
89 Jan 93 4 Deo
108 Jan 114 Deo
164 J'ly 174E»l>37 4 J'ly 43 4 Deo
143 Dec 146 4 Deo
24 4 Deo
87 Deo
124 Apr
Jan
34 Feb
17 Feb
71
638
Nor
274 Sep
1624 Not
141 Not
1494 Not
24 4 Not:
•
9434 Deo
4 Sep
12234 Deo
1934 Not
Feb-Ji
J
an 27
Jan 10
Jan o
Jan 3
.\larl5
1004 Jan
111
Jan 4
OS'sJan 5
284 Jan 25
914 Jan 26
40 MaroO
18 Jan 17
97 4 Jan '^4
88 Jan In
92 Feb 8
34^8
t54Mai3(J
Jan -/b
I834
70
55
340
50
750
3,752
350
5.974
2,330
10
685
1,768
4,232
5,^58
1,076
1,970
400
Now stock.
Jan 4
14 Apr 234 Not
Jan 5 118 Feb 141 Not,'
234 Jan 9
4 Jan
4 Oct
17 Jan lu
8 Oct
17 J'ly
252 4 Keu28 208 Mai 243 No*
104 Feb 23
9 Not
6 4 Jau
114 Jan 5 ^9934 Mar 116 Oct
23 Jan l8 22 Dec 22 4 J'ly
204 Jau 16 24 4 Oct 26 Not
4 Jau 6
5 Oct
2 Jan
116 Feb2o 95 Feb 113 J'no
954 Feb 1
454 Feb 61 4 Deo
394 Feb 16 28 Jan 32 Oct
14 4 Jau 16
6 4 May 2041>eo
1064 JB'eo I'j 77 Jan 103 Deo
434 Febl7 1034 Feb 34 Not,
11438 Mar3U 404 Jan 99 4 Deo
374 Marl3
Deo
S3s Alay 33
2
Fob 6
Feb 17 140
Jan2i
'
:
.
1
i
51 4 May
9738 .Marl.i
674 Jan 20
2-4 Feb 6
lOi
92
99
4 Deo
Apr •76 Jas
•50
95
6 4 J'ue
Mar
Feb 8
76
Mar 9
Mar20
7534 J'ne
•23
7^8 Not
Jan 11 75 Aug
Feb 23 ;i33ie Mai 21 Not
Feb
Deo
8234
81=8Marl3 43
18
24
1
75
1
14
1238
ii
[
'.'
614 J au 10
3 4 .Mar 8
87 4 Jan 13
1534 Mari;i
66 4 Alur ;i
54 Jail
111
14 Jau 18
28 4 Juu 3
25 4 J an
88 Feb 9 103 MarU
27 Jan 25 30 Jau
2.)
3
134 M.in-22
'4
Mar21 118
2 -a
1 4 Jan 6
3
2 Marol
9
6=8 Feb 6
104
121
2
Oct
Not;
3
Not
3
29
L''eb2^
7-3(jJau2ti
9
21
Mario
Jan 25
94 Warl8
Mar
Feb'Jl
Jau 18
Jau 3
34 4
1'"eb
Deo
6
ib\
'eJDec
t97,
NvT
2
67
98
33 i<
t6
Feb 126
May
3
103,I
Aluy 140
34
Nov 434
6
18
84
60
43'.j
6
an
Jau
J
2 4J'ui;
Feb
5
•50
18 4
ov
ov
1>ICO
N ov
M
ar
6
l)e
2834 1,
1
234
N
IV
47 N.iV
6'3bNoIV
la-VNoIV
No.
^ov
Jau 110
Feb
N ov
Hot
> ov
44 N;ov
34 Au(;
Mai
Mai
Jau
Not
Nov
Nov
34
14J'iie
334
Aug
Nov
Deo
J'ue
Jan 19
l<eo
4 Nov
'21^
80
Jan
Jan
34 4 Deo
63,
50
i
Not
Nov
16 4 Not
6" 16 Not
J'ut
i<'50 -^^ug
I
Not
4
85
1
I
36
72
116
4 Feb
53 Feb
2034 Feb
Jan 25 15 4 KoU'Jl
Jau 4 120 Feb 1
27„ Feb 21
1'b Jan 9
tAss'Cpaid.
Oct
^
14
741
44
•25
Atari
1318 Feb 1
9 Aiarli27 4 Atari
113, Jan 5
44 Mar31
Not
Not
t323\ Not
10 May
76 Jan
•25
4
35
11
105
700
4 Jau
•J
50
30
4
383, Nor
13ja Not
7^8 Not,
34 J'lif 114
Jan ll>
J an 13
39 -'o
1 4 Not
224 Not
3^8 Jlarl3
Jan 9 140
Feb
Jau li
Jaui;
Mar
2934
i<
10 4 J an
Deo
Deo
Jan
93
1 90 4 Aug 100
8 Feb
Jan 5
304 Marl 3 1638 Feb
25
2
Feb
Jau 13
14 Feb 23 20 J'lv
1834 MarKi
7 Feb
35 Jan 3
19 Mai
85 Marl5 39 May
74 Feb 3
6 Oct
095 Feb 20 435 Jau
15 Mar 1 05 Apr
1441''el)
16-''8Mar'^'^ 26
Jan 4
8 4 Jau lo
6 Mar 14
64 J'ly
40
20
J'ly
30 Mar24
Feb
7 4 Api
12 Jan 3 1534 Jau 2o
64 Jan 25 83 Mar 14 38 Feb
1034 Aug
11 4 Mar3u 18 4 Feb 15
40 J'ue
60 Jan 10 8634 Mar 31
113 Jaulo 117 Mar25 103 J'ly
134 J'ne
24 Jau3ii 34 Jan 13
7 J'ut
10 Jan 25 124 Juu 16
6 4 Marl;-.
238 Mar
6 Jan 4
25 Jan 2.1 29^8 Marl 4 20 Oct
44 Marl4 •62 4 Feb
3 Jan 4
6 4 May
23 4 J an 25 2834 Jau I'l
3 Feb
0:<8Jau 7 13 4 Alar 13
14 Jau Ij •45 J'ly
75 Mar29
Feb 9
264 Feb 17
14 Feb
75 Jan 25
1534 Jan 24
2934 Jan 25
70 Jan 25
534 Jan 26
645 Jan 7
10 Marl8
4 Not'
101
Mar
11
25
300
25
26 2,180
1,2^20
25
Mohawk
118
MontanaCoalti;; Coke 25
00
26
Old Colony
26
840
Old Dominion
26 1,700
Osceola
110
Parrott(8ilv<fc Copp) 10
26 2,340
Ph(bnix Cousol
88
25
Quiucy
25
60
Rhode Island
310
10
Cop)
Fe(Ooldifc
Santa
10 1,395
Shannon
250
25
Tamarack
875
25
Tecuinseh
25
Tonuessee
26 8,396
Trimly
100
United Copper
UnltedStatcMMiinng 25 16,8H'J
875
Unit SUtes Coal &O1I 25
5 9,606
Utah Con (Gold)
996
26
Victoria
26
655
Winona
312
26
Wolverine
24 Wyandot
3
1,349 105
2,123 6I34
979 3138
12
Mayilower
Michigan
m 1904.
Oct
87
72
Mar28
Jan 6
144 i3S Jan 3
Jan 12
84
75
309 105 Feb -.4
23 Jan l8
25 4 J an 5
4,100
11
154
127
186
2104 Feb 4 1854 May 199 Oct
167 Feb 2
159 Aug 1634 Apr
232 Jan 24 222 Jan 232 Apr
210 Marl i 198 J'ne 207 Apr
102 Febl4 74 J'ly 804 Feb
Mar20 147
10
6
243,
14
53
1
270
123 134
26
Consoildutod. 10
1764 Dec
174 Oct
303 4 Deo
7 4 Deo
64 Mar30 734 Jan lo
6 4 Jau
Mar 3 256 Marii7 230 Feb 265 Aug
Jan 25 191 Jan 17 al6l J'ne 194 Not
Jan 6 45 Feb 10 36 Dec 444 Aug
Jan lo 85 4 Marl 3 7734 Mai 8434 Oct
55 191 Jan 5 202 Mario 173 J'nt 200 Not
150
2,190
Guanajuato Consol.. 5
Isle Royale (Copper). 26
4'b
I
Deo
1554Deo
242 4 Nov
5 '20
Daly. West
Dominion Coal
2H4 Greene
Feb
Mai
Aug
Apr
Feb
313 250
131 182
722 384
478 804
10
25
25
20
100
100
Do pret
12
Mar'uo Elm River
25
104 Franklin
6
Granby Consolidated. 10
28
5 a;137
6 230
3,422 139 Jau25 149 Mar 2 1224 i'eb
197 136 Mar23 1404 Mar 7 122 4 Jan
1,776 142 4 Jan 24 148 Jan 4 1194 Feb
9 Feb
6,438 21 Jan 23 31 Mar21
717 924 Jan 3 109 Mar31 684 Jan
Nov
34 Marl 3 34 Jan 23
3
58 119 Mar25 124 Jan 6 1124Jan
74J'ne
1,315 17 Jan 24 24^8 Mar 1
13
*"l"4
27
1»4
Continental Zinc
Mar 894 Not
Jan 1044 Nor
23934 J'ne 254
249 Mar
185 4Marl4 158
174 4Mar21 166
3074Mar30 295
35 Mar2'J
81 Mar27
182 Mario 136 J'ue
132 Feb
rll64J'ne
J'ne
1893i Mar25 180
165 Feb 6 160 Apr
295 Feb
276 Jan
148 Mario 133 J'ne
76 Mar 14 244 Jan
92 Mar24 73 Jan
185 Mar 9 170 J'ne
22S8Mar30 11 4 Sep
70 4Mar30 6234 Oct
25 4 Mar 1
6 Apr
Jan 3
44 Jan 21 6
109 20 Jan 17 25
Copper Range Con ColOO 32,093
'4
1584 Jan
Feb 23
19 4 Jan 25
64
88
9
9
Feb27
25
376 86
76=,
8634
104 lu4 •1034
•70
•75
1
134 13 4 134
•24 3
Last Sale
10
104
10\
Last Sale
26»H
^-4
•534
10
105
130
9^8
42'»
2I4
I'fc
106
Jail '05
7638
5,000
" BostonConC&G (rct8)£l 2,090
26
191
Calumet <& Hecla
33
82
4
334
1'8
70
•63 4 64
33«
28
75
63 4
•14
2534
4'e
234
14
'4
13 4 134
111 111
24
15
234
lO't
OOg
42
143,
bl4 82
3»8
126
3
76 4
3''8
106
2
2I4
75^8
•14
204 26 4 •26
261;
101
984 99
2'b
2I4
10
6
100
104
S.
10
63
3'4
•1
1034
47fc
234
'4
103|»
13
lia
15 4
81
44
7\
42 H
4
284 28 4
44
«43b
26
2514
24 4 2434
114 114 11
11
•75
•76
1
1
I3I4 1334
134 13
414
126
93^
75 14 7634
680
Catalpa (Silver)
17 4 Centennial
Mar'iiS Central Oil
17
'4
Last Sale
7
7
•31'
6
78 4
14
92
100
213,
1
20
Last Sale
•54
214
196 4
134
10041004
*-90
lt2
•95
444 Mass'chusettsGasCoslOO
«434
Do pref
100
1964 Mergentlialer Lino.. 100
14 Mexican Telephone.. 10
1364 137
Last Hale Ihe
Last Sale 15
•19
20
1004 10U4
II4
•75
1
164 164
15
•134
132
3
*2>a
l.i'4
•95
78 S
107
130
112
90
7034
...'"»
9 '4
41^4
4'a
101
20 14
lUl
92
100
12
•803,
26
107
978
.
8434
Last Sale 25 4
24 13 25
••76
133^
631a
20 14
034
164
•33
'37
28 14 2834
414
6
•70
7
6'e
•bO
•2»a
20 s,
101
90
100
•70
"l7'9i"l734
7
•30
2484
9^8
•14
25534 Edison Elec Ilium.. .100
185 S General Electric
100
444
44 '4
So
199
'
12
-75
•
•14
'
'
12
•l^n
75
14
137
64
25534
185 4
23
256
186
1-,
22 la 22 iv
Tyi*
199
14
44
120
Cumberl Telep <fe Tel 100
234 Dominion Iron & St
6 4 East Boston Land.
64
146
Miscellaneous
1194
233*
410a 4 1091410914 1094 109 14 109 1 09 4
Last Sale
23
23
23
•254....
Last Sale
•254
•254....
•3
•3
*3
34
34
34
34 3
1114112
1114 11134
1114 112 <b 1114112
h8
884 89
8rf
88
87 4 S58
88
3334 34
34
34
33=8 3334
33 >8 34
Last Sa.e
10641054
434 434
112 4112 4 11241124 113 113
113 11438
3i.38 3618
3438 3618
354 35 '8 3538 35 'e
9514 9618
944 95
954 9534 96 4 96 'v
• 65
* 65
•40
•65
•iO
'
•25 Hi
113
85
'
248 4 249
10
10
10
84'*
1^4
23
90
108
•3
313
11134 112
89
31
248
256
186
84^6
•li*
234
64
255 256
1 85 4 1 8* 4
44
44
'
137
137
•114.—
•II4
249
•"i4
l»6
137
23
1194 11934
224 •224 23
64
64 t>4
r
.^37
4 234
1194
255
186''8 186'^B '184
1861a '181 186
•44
44
44
44
4i
441a
84I4
84
844 844 *844 85
19915199 Hi 200 200
199
•I "a
23
23",
90',
Mar
Mar
pref
Amer Apricul Chem.lOO
*90
9034
9034 91
9034
90
90
90 4
Do pref
100
'e
•434
•434
•434
•434
Last Sale
Mar'05 Amer Pneu Serv
5
6
5
60
6
•21
22
2lia 24
22
23
•214 23
22
22
23
23
Do pref
50
I4II4
142^'8
14138
1421*
141i4l423t,
142
14134
1404 1414 14038
1414
Amer Sugar Betin
100
138 138
1374 138
187 137 -v 138 138
1374 13a
1374138
Do pref
100
1441*14412 144i4l447g 144 1443, 144 144 14 14334 1444 144
144 Amer Telep & Teleg.lOO
2934 304
29^8
30'4
30
30 la
30
29 4 30 14
30
304 Amer Woolen
304
100
109
1084 IO034 109
108 1081-^ 1073, 10838 10734 108
1074108
Do pref
100
•3 la
*3ia
•34 334
334
334
•34 334 Last Sale O^'a
Mat'05 Boston Land
10
283«
9338
104 4
25'J
3
Nov
Ex-nghts. aKx.div. Alights.
Ape.
Boston Bond Eecord.
1905.]
1,
BOtiDH
Weel^s
BOSTON STOCK KXCH'GK
Week Ktioisa mabch 31
53;
Friday
Range or
Is
March 31
Last Sale
0505
lOOH loo's
<fc
Nebraska
. .
Boston Elect Light 1st 68.1908
1924
Consol 58
1907
Boston & Lowell 4s
1944
Maine
4»i28
Boston <&
1906
Improvement 48....
M-S
110
J-D
104112
Feb'U4
Apr'OU
J-J
117
Feb'()4
W
W
'21'
100 J'ne'Ol
129 4, Sep '04
117i4Feb'03
8712
88
100 Sep '04
107 Jan '04
10014 Feb'04
105 J'ne'04
101\ Mar'05
106i4Dec'02
99i4Dec'04
88 Sale
108
10014 Sale
126>-i
37
1061a 108
IOOI4
IOOI4
12612 Mar'05
7
2
126
126 Feb'05
107 Hj lea's 108 Mar'05
IO8I12 J-an'06
108
109i4Mar'02
112i4Jan'03
101 Mar'05
101
99 Mar'05
99 100
M-N
J-D
J-D
A-O
A-O
A-O
M-S
1091-j Sale
1091a
IO318
M-S
M-S
M-S
A-O 140
A-O 140
J-J
Q-J
Note—Buyer pays accrued interest in
10912
1031*
98%
98%
98^4
Monday
March i7
Saturday
881a 88I3
*
21
21
•106
21
16
16
14
Tuesday
March 28
79
98%
Thursday
March 30
l'9
88% '87% 88% 87% 87%
•105»4l07
22% 21
*21
•21
21
21
109
14
»3934
40
.
40
40
90
102
100 '310213
1
128% J'ne04
101 Jau '05
108 Sale 10s
108
1251a 126% 125 <a 125%
98 '4 99
98 14
98 14
J-D
M-N
M-S
MS
94 "a
9334
A-O 1041a 105
105%....
J-J
J-J
J-J
73
7612
96
95
100
108
125
101
10813
I25S3
9713 98 13
9434
93
103 105
1051a 106'
931a Mar'05
10414 Mar'05
10513 Mar'06
100 1« Nov'04
120 12 Sep '04
102 J'ne'03
118 MaT'04
76% Mar'05
25 Mar'05
16% Nov'04
75 J'ne'O.;
1024 Aug'04
95
95 v
102 la Dec '04
103 Aug '04
103 Apr '04
A-O
A-O
A-O
Jan 1939 J'ly
Jan 1939 fly
70%
Vi'.
25
-.S
U4
96
106
lOo"*
11102%
102%
14
58
Boston Bonds.
"
No
price Friday
Exchanges— Stock Record,
ACTIVE STOCKS
March
\m
NY&N Eng Ist 78
all
Pricett
Wednesday
SalV
i'02
9913
97
IO4I3 10684
1118'aTil3ti'«
1071a 11413
1]92%1!95ia
Stocks see below)
March 31
88
*107
22
40
01
103
103
10313
I05I9
1191
91
H Flat price.
Range for J^eviout
year (1904)
for Tear
10U3
Week
Shares
Unltiinore
Consolidated Gas
Northern Central
Seaboard Air Line
100
50
*1834 19
100
*38% 39
Do pret
100
•1434 16'4 Dnited Ry & Electric. 50
88
108
Range
the
10614 10614
Weekly, Yearly
Daily,
Sales
(tor Bonds and Jnaetire
and asked.
latest bid
;
/,
12434 1251a
FA
MS
Philadelphia and Baltimore Stock
March 25
High yo Low High
4 101%101l4
101%
IO6I4 Feb '05
1916 A-O
100 Dec '04
1906 J-J
100 Dcc'IJ4
1906 J-J
1st 68
10414 J'ne'04
9513 96% Old Colony gold 48
1924 F-A
11102 % Jan '05
Oreg Ry <fe Nav con g 48.. 1946 J-D
lOeifllOS
1922 FA
Greg Sh Line Ist g 6s
1251a Mar'05
9912IOOI4 Repub VaUey 1st s f 68.. .1919
102
103% Aug'04
4ias.l941
gen
1261a 126Sj Rutland 1st con
126 126
Rutland-Canadian Ist 4sl949
102 Mar'02
108 IO8I2 Savannah Elec 1st cons 58.1 952
99 "a-...
9913
99%
10814 108 12 Seattle Elec 1st g 53
1930 FA 106 1061a 106 "a Mar'06
Torrington 1st g 5s
1918
107 Feb'03
104 Nov'04
Union Pac RB<felgrg 48.1947 J-J
101 101
1911 M-N
131 Mar'05
1st lienconv 48
98 100
United Fruit conv gen 58. 1911 M-S 11034 llii Is 11134 111^4
1073410913 U S Steel Corp 10-60 yr 58. 1963 M-N
119434
119434
102i4Sep'04
103 1031a West End Street Ry 48. -..1915
IO6I4 106 "4
Gold 4138
1914
Gold debenture 4s
1916 M-N
10234 Apr '03
139 14()ia
Gold 48
1917 F-A
103% J an '05
139 1401; Western Teleph & Tel 58.1932 J-J 105 Sale 105
105
101
Wisconsin
Cent 1st gen 4sl949 J-J
Jan '05
981a
1191
14
98% 100 "a Wisconsin Valley 1st 7s.. 1909 J-J iii'ia"!"! llliaDoc'04
101^4
addition to the purchase price for
Share Prices—Not Per Cenruni
A-O
A-O
A-O
Since
^ January 1
32
MS
102 In Apr '04
llli4May'02
1401a Mar'05
140 13 Mar'05
98°g Sale
Ask Low
:oii4
Mich Telep cons 5s tr rec.1929 J-J
Minne Gen Elec con g 58 1929 J.J
1929 FA
New Eng Cot Yarn 58
1906 A-O
New EngTeleph 68
1907 A-O
68
1908 A-O
6s
8S
81
100
11
961?
M exican Central cons 48.. 1911
Last Sale
J-J
.
1st cons lnc3s
'_d cons inc 3s
96%
96 14 Sale
107
102^4 10234
99 "a 9934
W\ Mar'()5
"99i4II"Ii
deben 5s
1910
Non-convevtdeben 58. ..1913
la Falls & Sioux C Ist 78.. 1917
Kan C Clin <fc Spr Ist 58. ..1925
Kan C Ft 8 <fe GuU 1st 78. 1908
1928
Kan C Ft Scott & M 68
1934
KanCM&Bgen4s
1934
income
6s
Assented
Kan C & M Ry <fc Br Ist 5sl929
Kan C St Jo & C B l8t 78. . 1907
LR&FtSm Id grist 78. ..1905
Maine Cent cons Ist 78. ..1912
1912
Cons Ist 4s
Marc Hough cfeOnt 1st 6s. 1925
Illinois Steel
102181104 li
3 9414 97%
112iuJan'03
112112 Dec'04
102^4 Feb'05
112
Week's
Range or
March 31
•5 a.
Ranpe
Price
Priday
Bui
9934IOOI4
94
97 6t
108 lOS
99^8 Jan '02
101 Mar'O;)
W
Chic & No Mich Ist gu 58.1931
Mich gen 58
1921
Chic &
Concord & Mont cons 4s.. 1920
..1943
Conn & Pass R 1st g 4s.
1927
Current River 1st 58
Ist 48... 1946
DetGr Rap&
1913
Dominion Coal 1st 68
1906
Kaatern Ist gold 68
1916
B^tchburg 4s
1927
4s
Fremt Elk 4 Mo V Ist 68. . 1933
1933
Unstamped 1st 6s
etNor C B & Q coll tr 48 1921
1921
Registered 4s
Mar'05
102«8 UIOJ.'^
9618 1I963t
MS
F-A
Boat <& Mon 3(1 issue 78... 1904 M-N
Boston Terminal 1st Si^s. 1947 FA
1918 J-J
Bur & Mo Biv ex 6s
1918 J-J
Non-exempt 6s
1910 J-J
Sinking fund 48
1917 A-0
Butte & Boston Ist 6s
Cedar Rap <fe Mo K 1st 78.1916 M-N
1909 J-D
2d 78
Cent Vermt 1st g 48.. May 1920
Chic Burl & Q extend 48.1905 ?:!
1919 A-O
Iowa DiT let 58
1919 A-O
lowaDiv l8t48
1913 M-N
Debenture 5s
1922 F-A
Denver Exten 48
1927 M-N
Nebraska Exten 4s
1921 M-S
8 t 48
B&S
3
1949 J-J
Div
Illinois
128
Joint bonds See Gt Northern
Chic Jo Ry & Stk Yds 58 .1915 J-J
Coll trust refunding g 4sl940 A-O
Ch Mil & St P Dub D 68.. 1920 J.J
& St P Wis V div 681920 J-J
Ch
M
97
m-'i
AtcliTop&SFeseng48..1995 A-O 111044 Sale
J'ly 1995 Not TI9638 Sa'e
Adjustment g 48.
.
1
1001,
108
Isi 7s. .1908
January
High No Low High
20
218
BOSTON STOCK EXCH'GE
Week Kndinq march 31
Since
l.o%o
96^6 Sale
<fe
Atch
BONUS
£ange
loo's
A sk
Bid
j-j
Am Bell Telephone 48 1908 j-j
Am Telep Tel coU tr 48.1929 M-S
1227
400 843< Janll
Highett
Highest
Lowest
88%Mar24
57% Jan
Lowest
102 14 Feb 16 110
425 16 Jan 13 2
30 36% Jan 11 40
398 13 Jan 19 IB
1
Feb 24
Mar26
Mar2y
Mar
3
De»
86
J'ne
7 J'ne
1334 J'ne
534 J'ne
71
109% Dee
19% Not
Not
40
15% Deo
Pliiladelphia
52%
27% 27%
•52
6%
6%
12
12
52%
27% 27%
6% 6%
52% 52
27% 27%
13
12
1334
1334
1334
*13%
12%
12
12%
12
12
46 14
104
46
46%
'52
•14% 15%
46% 46%
•106 106
65 14 6534
4%
71%
47%
4%
7l7ig
4734
1034
10
30%
3034
'f.
47%47i»ie
•4534
46
"-J
7%
4618
104
104
104
64%
64% 65 la
7034
4734
10%
11
3034
7%
7%
1334
105 105
64 14 65
4% 4%
70% 7034
47% 47%
11% 11%
2934 30
30% 30%
46% 47318 46% 473i9
45% 45% •4534 46%
70i4 70i«ie
71%
48%
30
27I4
27%
7'..
65
52%
52
47% 47%
11
11%
47I16 4734
*4534 46 '4
441B16 45iie
4534
45% 45%
•58% 59
59
59
116% 116% 11614116%
•45'i6
58% 59
11534 II6I4
*44%
4518
59
116
59
11734
52% 52%
52%
26%
American Railways.... 50
689 48 Jan 3
Cambria Steel
50 2,485 25% Feb 2
7% 7% Consol Lake Superior 1. 100 2.927 6% Mar22
7% 7%
'13% 14
1334 1334
Do pref.t
100 1.135 13 Jan 26
12
12% 12% 12% Electric Co of America 10 4,623 10%Jan26
*13
15 Gen Asphalt interim ctfs..
10 Jan 9
46 '4 46%
Do pref interim ctfs..
46
46 "4
537 40% Jan 7
104 104
106 106 Lenigh Coal cSi Nav
652 104 Mar25
50
64% 64% 64% 64 'u Lehigh Valley
50 3.851 52% Jan 9
100 1,160
43^1 Mar24
4% 4% -4I4 4'i MarsdenCo
7II16
7134
Pennsylvania
RR
50 11,551 67 % Jan 25
70% 71%
47% 47% a;4634 4714 Philadelp'a Co (Pittsb) 50 39,873 4034 Jan 25
11% 11% Philadelphia Electric. 25 73.638 9% Jan 11
11% 12
30% 30% 30% 30 ^a Phila Rapid Transit*.. 50 6.947 1 1734 Jan 4
46iii8 4714 47I18 iVxn Reading
50 56,145 39% Jan 13
46
46
*i5\ 46 '4
Do Ist pref
15 45 % Feb 23
50
-44% 46% 441819 45
Do 2d pref
854 42 Jan 9
60
59
59
59
593s Union Tracton
50 l,2la 58% Mar 9
117 118% 211634 116% United Gas Impt
50 18,273 105% Jan 6
27
2714
O-J'4
27
*20
PKll.ADEIJ'IHA
Bid
6%
10
50
50
Cambria Iron
50
Central Coal & Coke. 100
Preferred
100
Consol Trac Pitts
50
Preferred
50
Amer Iron & Steel
BeU Telephone
6=4
60
4S
48%
State Steel...
Pre! erre<l
Indianapolis Ry 4s. 1933
Interstate Rys
3-3 %-48 1943
P-A
Lehigh Nav 4%s
24% 25
10
62%
3%
North Pennsylvania.. 50
Penn Gas Coal
50
101
48% 49
168 IHO
9934 100
.
10
Westmoreland Coal.. .50
;
M
V
J-D
J-D
Consol 6s 1923
Annuity 6s
Gen cons 48 ad-int ctfs.
Leh V Trac 1st 4s '29. J-D
New Con Gas 58 1948 J-D
2
273
51
90
102
119
46
110
Consol 68 c 1905. ..Var
Consol 5s c 1919. ..Var
Penn & Md Steel con 6s.
Pa <fe N Y Can 7s '06.J-D
Con 5s 1939
A-O
Con 4s 1939
A-O
6
7
Penn Steel Ist 58 '17 M-N
62
66
People's Trtr certs 48 '43
P Co Istcfe col tr 5s'49 M-S
||
Lowest
113 '4
93
106
1193,
111
63
is
cfe
E
gep
89
64
109 14
II4I4 115
128
151% 152
100%
M 5 g '20.A-O
Bid
10336
78 14
ConM
7836
114
113%
101'
12%Feb20
17% Jan 27
Jan 26
U4%Jan
70
534
7334
3
Feb 25
Jan 17
Marl3
48%Mar27
12 MarSO
?32% Feb24
4934 Mar 9
47 Feb 2
46% Mar 9
5938Mar31
118%Mar30
Jan 17
43
J'ne
1934
0«t
BALTIMORE
.
MetSt(Wash)lst5s'25FA
Mt Ver Cot Duck Ist 5s.
Incomes
.
370
93
m
Bait <fe P 1st 68
I'll A-O
Bait Trac l8t5s.. '29 M-N
No Bait Div 58 1942 J-D
M-N
M-N
Ry con5sl932
Ext<& Imp 5s. 1932 M-S
103%
109% 109% ChasCityRyl8t58'23J-J
U Ex-righta.
t? 15 paid.
Norfolk St 1st 5s '44.. J-J
North Cent4%s 1925 A-O
68 1904
J-J
Series A 5s 1926
J-J
A ale
96 >a
10334
11714
110
116%
iV'i3^'
i"l3%
124
115
57
'67"%
2914
291*.
77 14
77%.
35
34-,
95
112% 114
B 5s 1926.. ..J-J
Un Trac 58 1997. J-J
Poto Val Ist 58 1941. .J-J
Sec Av T(Pitts) 6s '34 J-D
Sav Fla West 5s '34 A-O
Seaboard A L 4s 1950 A-O
90%
9034
UElL&Pl8t4%s'29M-N
Un Ry El let 48 '49 M-S
92 "a
923*
Series
Pitt
€fc
Anacostia & PotSs
Atl & Ch lst7...1907 J-J
Allan C L RR4sl952M-S
Atl Coast L(Ct)ctfs 58 J-D
Ctfs of indebt 48
J-J
Bait C Pass let 58 '11 M-N
Bait Fundg 5s. 1916 M-N
Exchange 3 %s 1930 J-J
Refunding 3 %8 1952J-J
Cent'l
Npt N&O P 1st 5s'38 M-N
General 5s.. ..1941 M-S
J'ne.
96
Sub(Wa8)lst58'48
M
Inactive Stocks
Atlanta <fe Charlotte. 100
Atlan Coast Line RR. 100
AtlanCoastL (Conn)lOO 365
Canton Co
92
100
Georgia Sou c& Fla...l00
Ist pref
100
2d pref
100
G-B-S Brewing
100
Mt Vernon Cot Duck
Unit Elec L & P pref .50
22
Bid
Charl C<fe A ext 5s.'09 J-J
1910 A-O
2d 78
City & Sub 1st 58.. '22 J-D
City<fe
Oct
51
18% May 26% De*
% May t 9%Nor
l%May n838Ueo
734 Feb
11% Nor
5%J'ly 14% Not
20 Aug 44 % Not
62% Jan 131% Deo
3334 Feb 59 % Deo
2% Mar 4 Sj Not
55% Mar 70 Deo
37% May 43% Oct
5
May 10% Deo
8 Jan H9 Not
19% Mar 41 '4 Deo
38 Mar 46 Deo
28 Mar 42% Deo
4534 Jan 59% Deo
81 May 108 Deo
68 g 1911.... J-D
Consol Gas 6s... 1910 J-D
Ex Imp 4s g '47. A-O
1939 J-D
5s
Con
of '82 48 •37.J-J
Ga & Ala Ist con 58 '45 J-J
Terminal 5s g 1941 Q-F
124
Ga Car <fe N 1st 5s g '29 J-J
P
& B col tr 4s '21. J-J 103% 104 Georgia P 1st 6s... '22 J-J
Rocliester Ry con 5s 1930 111% 112% GaSo & Fla Ist 6s 1945J-J
U Trac Ind gen 5s'19. J-J 98% 99 G-B-S Brew 3-4s 1951M-S
Un Rys Tr ctfs 4s'49J<feJ 85 85%
2d income 5s 1951 M-N
11634 Knoxv Trac 1st 5s '28 A-O
U Trac Pit gen 5s '97 J-J
Welsbach s 1 58 1930. J-D
LakeR
El 1st gur>s'42M-S
64% 65%
Convertible 5s. '06
ex-dividend.
4
4
Col&Grnv Ist6s.l916 J-J
Bonds
iu"
Jan
Jan
49
Feb 2b 28
Ask
BALTIMORE
"a
8^16
1534
104% Chas Ry G & El 5s '99 M-S
Gen M 4s g 1920..A&O
Ph & Read 2d 5s '33. A-O 126
Con M 7s 1911
J-D 119
W
10034 101
89
P
M
114% 115
No Penn
no sales on this day.
10334
11614
Newark Pass con 5s 1930 II514
NY Ph & No 1st 48 '39 J-J 102 14
134
United N J RR & C.
271
Unit Pow <fc Trans
25
United Trac Pitts
50
50
Preferred
50
Phil Elec gold trust ctfs
Trust certifs 4s
'14. Q
1914. Q-F
Gen
4%s g. 1924. Q-F
Leh V C 1st 5s g '33. .J-J
Leh ext 48 Ist 1948. J-D
2d 7s 1910
M-S
48 g
2
10
100
Warwick Iron<& Steel. 10
West Jersey* SeaSh.50
RRs
Income 48 1939... M-N
1st 4s '36. -M-N
Deben 6s 1905
M-S
3%
2% Penn gen 68 o 1910.. Var
3%
Steel..
Bid and asked prices
4
104% 105
Pennsylvania Salt
50
Pennsylvania Steel.. 100
Preferred
100
Phila Co (Pitta) pref... 50
Phil G erman & Norris 50
Phila Traction
50
Eailways General
10
&
<fe
Elec
Schuylkm
50
MinehUl & Schuyl H..50
Nesquehoning
50
N Haven Iron & Steel.
Preferred
A Ist M 5s 1920 M-N
& Peo Tr stk tr ctfs
Elm & WU 1st 68 '10. J-J
Eq II Gas-L 1st g 58 1928
H & B Top con 5s '25 A-O
E
8434
Little
Susqueh Iron
1st con 5s 1932
Ist 5s. '33
Con Trac of N J
50
Tidewater Steel
Ry
Col St
Keyston e Watch Case. 100
Lake Superior Corp.. 100
Lit Brothers
Balls Ter 1st 5s 1926. J-D
Che<feDCanlst5s'16J-J
Choc & Me 1st 58 1949 J-J
Ch Ok & G gen 5s '19 3-3
Diamond
Preferred
E ext 7s 1910 A-O
AmRysconv53 1911. J-D 103%
Atl City 1st 5s g '19. M-N 113
20
100
PHILADELPHIA
Ask
Al Val
Berg&EBrwlst6s'21 J-J
Bethle Steel 6s 1998. Q-F
Easton Con Electric... 50
Klec Storage Batt
100
Preferred
100
Germantown Pass
50
Harrison Bros pref... 100
IndianapoUs St
100
Inter Sm Pow & Chem.50
Keystone Telephone ..50
Bid
WelsbachCo
Bonds
Inactive Stocits
American Cement
PHILADELPHIA
Ask
-22
53% Mario
28%Febl7
4:
107
10034 101 14
115
117
95
90
Seab cfe Roan 5s 1926. J-J
South Bound Ist 5s..A.O
<fc
Income 48 1949
J-D
Va Mid Ist 68 1906. .M-S
64% 05
2d series 68 1911. ..M.S
3d series 68 1916. .M-S
4th ser 3-4-58 1921. M-S
5th series 5s 1926. M-S
Va
(State) 38
new '32.J-J
Fund debt 2-3s 1991. J J
West N C con 6s 1914 J-J
We8VaC<fePlst6g'll J-J
Wil & Weld 58.. 1935. J J
Reorganization certs. $3 assess't paid,
i
*
114% 116
96
96% 97
llSs;
11134 112%.
118
$20 paid.
THE CHRONICLE.
1228
[Vol. lxxx.
^n& |^ailr0ad %nttllxQtnct.
RAILROAD GROSS EARNINGS.
[ttxrjestnxjettt
The following table shows the gross earnings of every Steam railroad from which regular weekly or monthly return?
can be obtained. The first two columns of figures give ti»e gross earnings for the latest week or month, and the last two
columns the earnings for the period from July 1 to and including sucli latest week or month. We add a supplementary
statement to show the fiscal year totals of those roads whose fiscal year does not begin with July, but covers some othei
period.
2'he
returns of
street railtcavs are br<ni,ght together separaieiii
tltf.
haminqs
Latest tiroas
ROADS
or
Ala Gt Southern
AJa N O & lexa*
NO
<fc
•2d
Week
Month
Current
Year
wk Mar
July
t^evious
Year
59,164
Paciitc.
$
53,37
1
to Latest
Current
Year
Date
No East February.
Vickeb 81i & I' February..
Allegheny Valley Januai-y
3 1 wk Mar
Ann Arbor
ROADS
I^evioits
172,656
90.333
97,013
<te
li
35 122
.
Em
AaiiHlidA'Pii-.'i
Current Year Previous Y'ar
•15
week Jan.
2d week Jan,
1st
3d weekJa/i.
4th week Jam
l8t week K«5b.
2d week Feb.
3d week Feb.
4th week Feb.
l8t week Mar.
2d week Mar.
3d week Mar.
]
(44
i47
(16
(51
(is
;4 6
(4b
(50
(47
(48
(44
12,958,404
7.186,669
$
load.i)...
7,619.207
12,476,020
6,730.800
7,624,696
7,479.313
roads).
roads)...
roads)...
loadsj...
11.351,44;i
10,4v)3,lti3
7,013,105
6,744,568
6,943.140
ro.ids)...
8,b78,l>91
roads)...
roads).
roads)...
8.182,655
8,600,740
8,169,770
6,973,620
7,251,543
7.112,251
9,475,024
7,403,362
8,010,341
7,514,009
roads)...
roads)...
Mexican currency.
operated,
Oli"
7,3(>5,91b
UlfiO.ss
Jne. or Dec.
^fev-Cal-0^egou. February.
Nevada Central.. February.
N Y C & Hud RiY February.
N Y Out <& West. February.
y Y Susq & Wesi Ffbruary
A Wost'ii
N'orihern Central
N'orth'n Pacittc.
Ohio Rlv& West..
Pacittc Coast Co.
January.
February.
January...
February
ePeun— EaatPiVtE
.January.
Norfolk
•fauuary..
eWestP&E..
January
Pere Marquette 2d wk Mar
PhilaRalt&W'sh January
.
.
Phlla
iSi
Pittsb
Erie
CC&
&U
St
I
Fear
Reading Railway
Coal <te li- (Jo
Total Both Cos.
Rich Fr'ksb & P
RaieiKh
.
Rio Grande Jot..
Rio Grande So...
Rooklsl'd Sys..
Previous
Year
13,111
Latest Halt
to
1
Current
Year
Prevvoui
Year
6,319,143
34 8,13t>
5,252,374
287,985
5,84-^,533 5,632,247
7,299,129 7,336,274
8,244.300 8.188,747
146,388
129,882
21.275
22,059
53.540.198 51,980,014
4.570,472 4,371,049
1,730,359 1,689,221
13,711,835 13.160,928
6,149,890 5,967,490
34.427,853 32,584,385
124,273
1-2,460
4,125,o81 3.889,081
70,760.29 70.944,992
IiiC 1.42 7.300
8,959,681 7,M20,043
».0d7.27b 7.981. 87S
4,696,716 4,622,363
16,433,991 16,343,904
24,olt>
24,160
23,730,970 22,751,869
23,182,314 22,147,733
40,913,284 44,899,602
818.474
780,101
351,747
374,600
337.460
350,64 <
26,911,930 28,446,004
1,352,073 1,329,489
13.10.
402,282 385.297
9,310,774 8,473.874
/*tc. 7 96,500
237.091
216,491
1,056,540 956,040
4b9,071 449,179
.January ..
February.. 1,860,545
3,809
December
February.. 2.602,203
February 3.310,330
Febrjary.. 5,912,5^3
January .. 120,681
January...
41,410
8.885
3d wk Mar
./anuary... 3.471,855
1,784,986
4,07b
2,574,171
3,429,204
6,0o3,;->75
104,465
45,522
8,830
3.478.079
Rutland RR
December
jjo'.eeo
118.238
809.534
St.I08&Gr 1
January
749,784
St L & San Fran January... 2.979,676 2,911.360 23,604,628 21,753,716
.
fy
L Southwest .. 3d wk Mar
Seaboard Air L. January..
Southern Ind
•'"ebruary.
So Pacittc Co 6... February..
tioathern Rallw'j 3d wk Mar
Texas Central
3d wk Mar
Texas & Pacitlo.. 3d wk Mar
Tex S V & N W
January
Tol <fc Ohio Cent 3d wk Mar
Tol Pite West .... 3d wk Mar
Tol StL <fe
3d wk Mar
Tor Ham & Butt. 2d wk Mar
Un Pac System .. February.
Vandalia RR.—
St. Louis Div. January...
Terre H. & Peo. January,..
Virginia & So VV'n February..
Wabash
3d wk Mar
St
.".
.
.
.
W
200,312 13.J,584 6,479,717 5,841,527
1,049,212 l,0o4,32l 7,633,133 7,221,080
i05,6S7
954.569
866,959
97,207
6,582,01-2 0.812,640 03,241,006 63,828,095
911,427 35,048,514 33.345,960
1,007,40
11,31b
632,lb2
595,904
15,339
235,12« 210,299 9,696,379 9,303,600
102,100
12.000
16,100
96,200
53.301
64,050 2,862,285 2,670,623
967,327
23.251
25,726
955,154
6-s,246 2,705,721 2,339,984
(>4.158
14.219
463.025
420,852
14,872
3,821,461 3,837,907 39,826,835 37,923,072
348,679
51,196
51,562
420,335
195,010
75,i42
W Jersey <k Sea'e January...
Wheel & LE
3d wk Mar
Wm'sport&N.Br. January..
11,616
Wisconsin Cent.. Fel)ruary.
A'rightsv & T'n.. January.
Vazoo ife Miss. V. February.
393,355
12,617
544,832
VARIOUS FISCAL YEARS
Jan.
Atlantic
Birmingham
Belief onte Central
Chic St P Alinu & (Jmaha
CI C. C. <t til. Louis
Peoria <& EasLeiJi
International
GtNorth'n..
luterooeanio of Mexico
Lake Erie <fe Western
Manistee & North Eastern..
Mauistique
.Maryland <fc Peunsylvania..
{Mexican International .. ..
Dec.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
&
&
Mar.
.Ian.
Mar.
Jan.
Railway
Jan.
'(Mexican Southern
.Missouri Pacittc
Central Branch
Jan.
Jan.
Jan.
Total
;National
Jan.
;
iviexicau
RRof Mexico
Northern Central
&
ePennsy., Ea.si of P
E
tWe.st of P & E
Phila Baltimore & Wa.sh
Philadelphia <& Erie
Pitts Cin Chic <& St Louis
Rio Grande Juuclioii
Texas
<fe
Pa,<^iflc
V^audalia
RR.— St.
Terre Haute
West .Jei•.^<^.v
&
L. Div
& f'eoria
Si^ashore
KAICiM.NGS— Weekly and
MONTHLY SUM.MA1HES
P.C-
330,098
48,117
417,308
41,466
405,304
400,0s2 18.508,440
200.710 2.727,816
88,456 3,178,907
11,244
103.024
423,397 4,3»2.69b
14.642
116,315
714,790 5.989.623
Jan.
Jan.
Jau.
J an.
Jan.
Ian.
Jan.
Deo.
Jan.
Jan.
Jan.
Jan.
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
16,728,277
2,736,416
3,156,251
101,853
4,352,261
105,021
5.499,658
Previous
Year
Year
Jan.
Jan.
Feb.
Feb.
Jan.
Feb.
Feb.
Mar.
Mar.
Dec.
Jan.
Feb.
Feb.
Jan.
Mar.
Mar.
Mar
Mar.
Mar.
Mar.
.1
379.556
422,884
Current
Period
Allegheny Valley
Atlanta & Charl Air Line
an.
Jan.
Jan.
Jan.
Jau.
Feb
Jau.
Mar.
Jan.
t.)
.Ian.
to
Jan.
784
inc. !J5ll
^3,331,614 $3,130,451
171,561
249,397
10,018
10,149
919,078
929.594
3,110.591 2,833,227
462,306
463,527
1,132,579 1,150,297
4,189.419 4,173,793
4,970,992 5,218,728
41,807
42,677
12.548
9,729
309,358
312.541
582,623
533,826
1,210,000 1,254,300
218,188
210.07»
7,919,793 8,914,557
387,000
290,000
8,209,793 9,301,557
8,24 4,300 8,18S,747
697,336
740,030
9,310.774 8.473,874
LiLC. 7 96,500
956,040
1,056,540
449,179
489.071
3.943.546 3,624,928
8"i.02b
97,917
2,700,022 2,794,378
330,098
348,079
4b, 117
51,196
20O.710
195,610
ifloiitlily.
Current Year Previous Y'ar
Jnc.orJJec. ^P.O.
$
$
+482,384 3-87 Month Mar. 1904 (125
+455,869 11-77 vioiUhApr. 1904 (127
—258.778 :!-39 Moiitii yUiy li)04 (128
+ 85b,2.Sii
+ 39,545
.
JuIt
S
S
179,307 112,255
10,374
8,823
151,913 123,003
200,750 200,24
239,408 232,6o
11,864
7,643
1,865
719
5,395,334 5,390,449
419,792 455,321
201.393 225,038
1,900.395 1,777.597
740,036 697,336
3,129,288 2,941,945
MStP&S
StM. 3d wk Mai
.Mob Jack & K C 3 wk Mai
207,734 1,603,243 1,672,404 Mobile
Ohio.. 3d wk Mar
119,287
919,571
891.896 Nash Ch & St L. 3d wk Mar
971.782
99)^,315 tNat'lRRof Mex 3d WK Mai
134,654
2,182,834
2,293.598
Jiamtngs
Current
Year
or Alonth
.
4th week Dec. (48 roads)...
(iross
Week
Year
191.506
112,784
32,476 1, 419,931 1,404,990
AtohTop&8 Fe. February.. 4,e69|30t> 5,346,860 44.692,134 46,566,459
27y,17y 307,552 2,182,100 2,068.954
Atlanta & Char.. January
66-',74-v
78,79b
53,4S8
447,968
Atlantic & Bir... February..
Atl Coast Line... f ebruary. 1,738,123 1,814,949 14,009,170 13,218,232
13,70s
86,03b
13,434
80,996
Bait & Ann S L. December
February. 4,741.660 4.634,»06 44,447.564 43,461,175
BaltA Ohio
Bangor & Aioosl January... 148,323 155,081 1,201.414 1,141,700
37,970
4,881
5,0»9
46,964
Bellefonte Cent'l February.
2,931
28,498
3,355
27.204
BrldKt & Saco K. January..,
5.4.->5,781
5,782,797
145,175
Bufl Rooh & Plttt^ 3d wk Mar 145,378
729.823
71,413
649,534
Buflalo ASusq... January...
62,833
88,728
80,716 1.055,977 l,0O5.5t>2
Cal ISorthw'n. ... February..
62.700
49,100 2,750.800 2,256,400
Canadian North.. 3d wk Mar
Canadian PaollU 3d wk Mar 955.000 849,000 36,-Jl9,0l8 32,707,949
217,600 196,900 7,563,300 7,160,968
Cent'l of Georgia 3d wk Mar
Cent'l of N Jersey February.. l,615,»t*3 1,553.50 14,662,075 14,233,077
2.515
87,893
2,298
81,513
Chattan South'n. 3d wk Ma
Chesap & Ohio... Febraary. 1,447,251 1,440.08b 13,558,215 12,642,081
706,4 -iO 897,166 8,357.763 7,882,985
Ohio & Alton Ry. February.
Ohio Gt Western. 3d wk Mar 153,914 156,858 5,524,144 6,102,464
95,020 3,960,80u 3,821,002
Chiolud &L,'v... 3il Wit Mai 103,2oy
Chic Milw <fe 8t f February 3,311,570 3,411,192 33,588,952 33,267,2,^7
Ohio & North
February. 3,403,306 3,709,125 36,865.017 36,729,075
ChloStPM &0. January... 929,59-i 919.678 7,429,727 7,377.929
26,53^
25,072 1,093,114 1,144,616
Chic Term Tr RR 3d wk Mar
ClnNO&TPao. '2d wk Mar 130,573 124.070 r>,117.742 4,712,360
ClCln <Jk&, 8t L. February, 1,495,775 1,464,80b 15,251,879 13.903.359
:;08,5ju
233,239 1,991,048 2,008,322
Peoria <fe East'n Febraary,
Colorado >feHoutlj 3d wk Mar 122,515 101,242 4,480,325 4,387,019
10,898
23,137
132,251
137.429
Col Newb & Lau. .lanuary
44,949
38,030
356,884
317,840
Copper Range.... January,
3,-.^17
4.203
30,766
Cornwall
46,303
January
21,140
14,257
145.157
Oomwall&Leb.. January
146,547
Denv.&RioGr... 3d wk Mar 289,200 271.200 12,2U6,m33 12,061,006
72,280
73,913
633,318
641.2^1
Det & Mackinac. February
27,04-..
23,634
1.094,602 1,16.<.0S8
Detroit Southern. 3d wk Mar
50.139
46,194
1,899,627 1,862.888
DulSoah <kAtl.. 3d WK Mar
Erie
February.. 2,713,080 2,998,799 29,842,427 29,801,902
3,343
3,308
25,047
F'rchild&N'r'e'r February
23.438
6,63b
6,638
55.473
Farmv & Powhat January...
47,086
45.410
36,630
433,730
John8t&
Gl.
Fon
lanuary .
405,315
FtW&DenvCity February.. 166,437 170,021 1,712,105 1,842,020
167.368 227,804 1,640,700 1,689,774
(Jeorgia RR
February
Ga South & Fla.. February.. 140,311 149,964 1,155,150 1,153,720
35,84ii
57,4^7
QilaValGd; N.. October...
Or Trunk System 3d wk Mar 652,230 610,366 25,208,147 24.337,446
GrTr. West'n. 2d wk Mar 111,413 108,461' 3,570,060 3.734,693
DetGrH&M.. 2d wk Mar 26,765 17,500 1,057,283 922,106
Great Northern. February, 2,376,297 2,056,73b 28,345,472 27.418,174
177,406 184,604 1,501,206 1,403,831
Montana Cent'l February.
Total system. February.. 2,553,703 2,241.342 29,906.678 8,882.005
33,878 1,338,159 1,343,870
Qulf&ShipIsland 3d wk Mar
38,996
89,524 1*20,156 4,390,154 4,362,412
Hocking Valley.. 3d wk Mar
Illinois Central.. February 3,555, 67y 3,707,75" 33,5i2,24b 31.391,309
18,421
25,573
189,324
Illlnuib Southern February..
152.074
154,770 147,069 1,023,141
Indlll & Iowa... January..
924,828
104,750
87,2b6 4,607,261 4,485,503
Int <te GtNorth'n 3d wK Mar
llnteroc (Mex) .
3d wk Mar 132,24o 123,427 4,lb9,4l9 4,173,793
53,197
47,940 1,863,752 1,754,448
Iowa Central
3d wk Mai
28,154
28,630 1,205,860 1,194.134
Kanawha & Micb 3d wk Mui
Kan City South'n February. 458,290 545,101 5,354, -JOl 4,394,466
LakeEne&Weatu December. 442,190 438,492 2,645,763 2,770,983
Lehigh Val RR.. February.. 1,952,719 1,990,89.3 20,080,686 19,285,925
;JS,25&
35.003
295,401
Lexing <feEast'n. February..
355,119
Inc.
J lie.
85,072
Long Island ... January.
333,031
65.291
50,720
527,663
Louisiana & Ark. February.,
436,700
LouiHV a NaHhv. 3d wk Mar 774,335 723,96 27,775,635 27.243.662
8,441
12,246
Macon & Rlnn... February..
90,704
96,774
4,282
5,802
34,187
Man'teeit Ur. it;ip .Noveiulier
37,332
42,«77
Manis & No
241,798
January.
41,80
231,922
5..'i22
6.49(1
Manistiqiie
57,179
February..
52,875
ly,90-4
212,479
Maryl'd <fc Peun.. Fe»ruary..
18,769
206,733
{Mexican Cent'l.. February.. 2,048,13b ,133.880 16.764,692 10,770,424
533,82(j
582.623 3,863,416 3,953. b96
iMexicau 1-itorn. .laLiuary..
f Mexican Ry
WkMarll 116,000 135,600 4,120,10(1 4,004,700
22.8i7
jMexlcanSouth'u IstwK M.ut
21,440
763,605
745,858
MlUen ik So'w'n. Dece.iuber
6,317
5,124
•10,8o9
27,402
Mineral Range.. 3d wk Mai
14,752
11,766
501,551
415,797
Miuneap »U Hi L,. ad ^\k Mar
5y.087
51,677 2.168.250 2,133,150
Mo Kan & 'lexas 3d wk Mar 361,978 30b,30« 14.797,963 13.423,745
Mo Pac (Si Iron Ml 3d wk Mar 749,000 736,000 30,423,787 30,912,842
Central Brand 3d wk Mar
34,000 1,121,000 1,361,000
32,000
Total
3d wk Mur 781.000 770.000 31,544,787 32.27;^,^4J
WEEKLY SUMMAltlES
LaKst
I
Ala*. Vlcksb'K February..
W
on a subsequent page.
139,894 l-b7
S'lb
0-57
-.506,975 7-00
-169,105 2-38
Moii'li .Mine
Moiiih .iuly
Aug.
.Moiilli
M. utli
Sept.
Mdiitn
OfXj.
Mouth Nov.
MouUi Dec.
-^ 590,399 7-36
Month Jau+655,761 8-72 Mouth Feb.
—597.033
(;-30
+ 779.293
l»-o'2
b Includes the Uoun it Tex. Cout. and Its
g Includes the Chicago dt Eastern Illinois in both years.
sub.'ild.
1904
1904
190 1
1901
1904
1904
1904
1905
1»05
rds.) ".33,218,211
133.294,034
ids.) 132,133,290 136,7S3.131>
rds.)
i:;(»,935,613 134,6(iO,3b(i
(1(H i\U.)
(125 rds.)
(122 rd:^.)
(124 rd.s.)
(124 nU.i
(r24ldH.i
(123 nU.i
(116 rds.)
61 rds.)
(
113,351,191 114,2bO,175
132,2 12,621 139,712,599
lines In both ye.-*ra
aud
I1.-..292,I93 11 1,558, 47H
151,475,021 i7.33a,5.!(i
—7 .1,823
1
0-06
-4,3 19,819 3-18
—3,724,773 2-77
—928,684 081
— 7,469,9".
+ 731,020
5-35
0-1)1
+4,13t!,;88 2-81
+ -L974,337 3-21
H3,394,641 0-51
146,74S,102 130,^89.640 +9,.-5b,462 ,•20
127.073,05 S 119,220,o7-> •+7,852,980 6-58
43.651,281 44,914,739 —1,263,458 2 -81
1
5.1,732,959 154,75S,62'154,304.117 M0,y0;),47(.
1
lor ootu porioLi.
e
Covers linoa directly
Apr.
THE CHRONICLE.
1905.]
1,
Latest ^ro88 Earalnga by Weeks.— In the table which
follows we sum up Beparatelj the earnings for the third
week of March. The table oovers 44 roacLs and shows
8'72 per cent increase in the aggregate over the same week
last year.
2d week of March.
innreait
1904.
1905.
Decreaae.
$
Ann Arbor.... ......... -—
BuffRloRooh.
*
Pittsb'r
Oanadtan Northern
Canadian Psolflo
central of Georsrla
Ohattanooea southern.
Cbloago uioat Western
Ohio. Ird'rlfB <fe LoulHV.
Gr^d Tmnb of Canada
i
Grand Trunk Weat..
>
Det. Gr. Hav. A Mllw.
Golf & Ship Island
......
Honklne Vallev
Internanonal * Gt.Wo.
Interooeanlo (Max.)...
lowaCentral
M
2.^,072
289,200
23.634
60,139
101,242
271,200
27,042
46,194
652.230
610,886
41,864
38.996
89,524
104.7^0
6,118
774,336
14.752
59,087
179.307
33,878
120.156
87,886
123,427
47,940
28.630
723,965
11.766
61,677
112,256
3t5l.978
308,30-'
749,000
32.000
736,000
34.000
10,87*
*8.823
1,661
154,913
200.750
239.408
31,850
76.142
123,063
200,242
282,602
8,830
133,584
911,427
11.318
210.299
64,080
25,726
68,246
400.082
88,456
Wheeling
8,169,770
7,514,009
*
8,885
200,312
1,007.408
16.839
235,128
53.301
23,2.'>
1
64,168
420,83?-
& Lak a Erie.
Total (44 roads)...
,.„
Net Increase <8'72 p.c
..
2,944
8,408
•«•««•»•
.
-.
...
,
.
17,464
8,821
5,257
30,632
>•• *••
•••• •••
476
60,370
2,986
7.410
67.052
53.670
13,000
2.000
• o>*
508
6,806
5&
66,728
95,981
4,021
24,829
..••>•-••.
20,253
....
725.877
655,761
..
.«.M.<...
10.779
2,475
4.088
_
13,314
70,1 6
i
Week ending March 18.
For the second week of March our final statement covers
48 roads, and shows 7 '36 per cent increase in the aggregate
over the same week last year.
*
2d week of March,
Previously rep'fl,45
rd's)
Canadian Worthern
Mexican Railway
Toronto Ham. a Buffalo.
Total )48 roads)
Net Increase t7*86
\ Figures are lor
......
x>.
1904.
1905.
Increase
8
Deereate.
$
$
$
8.417.168
68,700
11116.000
14,872
7,817,622
48,900
649.102
9,800
49,456
T135,600
""658
19,600
8,606,740
8,016,341
669.456
690,399
69,066
14,219
c)..
week ending March
11.
Not Earnings Mont^is' iio Latest l)«tea.-~The table following shows the gross and net earnings of Steam railroads
reported this week, A full detailed statement, including all
roadi from which monthly returns can be obtained, is given
once a month in these columns, and the latest statement o*
this kind will be fouud in the Cbsohiolb of March 18
The next will appear In the issue of April 22, 1U05,
19C6.
— G7-0SS Earnings. —
>
Motids.
Gross Earnings. —
—Current
Previous
,
Tear.
Roads.
Net Earnings.
Current
Previoxis
,
TKtr.
Tear.
,
Tear.
$
$
$
Onl. 80. Bh.&Atl.b.Feb.
188,428
171,758
45,635
30,008
July 1 to Feb. 28.... 1,749,825 1,737.650
874,803
538,098
Feb. 2,713,080 2,998.799
Srle.a....
160,399
267,910
July 1 to Feb. 28. ...29,842,427 29,801,902 8,068,085 7,287,910
flli.W.&Den.OlTy.bFeb.
166,437
170,021
28.706
34,576
July 1 to Feb. 88... 1,712,105 1,842,020
449,399
6:i3,282
Feb.
167,368
Georgia RR.a..
227,804
39.593
82.965
July 1 to Feb. 28.... 1,640.700 1,680,774
482,730
516,176
128,230
»ulf &8hlp lal'i.aFeb.
145,964
18,814
41,795
July 1 to Feb. 2H.... 1,220,882 1,237.868
294,591
443,923
40.5,616
'"rlooklng Van*>y.a.Feb.
401,928
85.131
107.480
July 1 to Feb. 2«.... 4,109.357 4,019,110 1,897,684 1,342.702
169,683
190.649
Iow» nentra! a .. Feb.
r9,607
rl8 058
July 1 to Feb. 28 .. 1,705,788 1,613,409 r252,071 r281,603
138,598
Kanawha&Mloh.a Feb.
113,399
27.512
316
July 1 to Feb. 2».... 1,177,052 1,107,687
161,401
130,182
468,290
545,101
Kan. Olty South a -Feb.
98,215
154,610
July 1 to Feb. 28... 4,S64,204 4,394,465 1,267,846 1,241.384
Lehigh Valley RR.b Feb. 1,952,719 1,990,896 si09,074 s557,002
20,080,686 19,285,925 87,808,424 88,893,328
July 1 to Feb. 28
28,853
Lexlng'n&E»«t.b. Feb.
35,003
10,310
6,114
295,401
355,ll9
July Ito Feb. S8 ...
89,054
71,540
50,720
65,291
LoulB'naA Arban.aFeb.
12,264
85,704
827,663
436,700
July 1 to Feb. 28....
194,005
109,510
644.455
o scexlcan Ci^rt ....Feb. 2,048,138 2,183.880
499,350
July 1 to Feb. 2».... 16,764,692 16,770,424 5,107,043 3,870,368
63.819
45,869
Mineral Range. b.. Feb.
9,005
833
459,4»50
884,513
July 1 to Feb. !<!8 ».
125,814
34,794
Mtnn.&at.LontH a.Feb.
192,778
178,770
v37.608
v48,248
July 1 to Feb. 2 H.... 1,993,011 1,980.910 v743,048 v784.366
Nevada Central.. .Feb.
1.865
719
381
def.861
21,275
22,059
July 1 to Feb. 2«....
6,884
3,828
419,792
465,321
19,811
N. ¥ Out.& W^Rt.aFeb.
63,922
July 1 to Feb. 28.... 4,570,472 4,371,049 1,255,652
958,328
S.Y.Sus. &Wt»BC.aFeb.
201,393
226,038
47,802
79,133
July 1 to Feb. 2»... I,7d0,359 1,689,221
578,764
640,308
o a Feb.
402.282
385,297
Paolflo Coast
55,618
44.718
July 1 to Feb. 28.... 4,125,081 3.889,081
813,405
725,334
cadlng CompanyPhila.&Beail'sr.t Feb. 2,602.203 2,574,171
979,754
924.336
July 1 to Feb. 28....23,7S0,9:0 22,761,869 10,966,001 8,699,019
3.310,330 8,429,204
;:oal & Iron <!o.l) Feb.
221.048
374,794
23,182,314 22.147,733 1,5^7,285 2,105,342
July 1 to Feb. 2-^
Total both Co. '3. bFeb. 5.912,533 6,003,375 1.500.802 1,299.130
July 1 to Feb. 2^.... 46,913,284 44,899,602 12.563,286 10,804,360
ReadlngCotv. .. Feb
315,821
116,444
July 1 to Feb. 28
941,621
944,962
Total all Co.'" »>..Feb
1,316.624 1,415,674
July 1 to Feb. 28...
13,503,808 11,749,322
41,410
RU> Grande Junot.. Jan.
45,522
xl2,423
xl3,423
35,734
38,299
810 Grande Son th.f Feb.
14,714
11,856
324,003
312.507
160.396
July 1 to Feb. 148....
182,548
Seaboard Air Line a Jan. 1,049,212 1,064.321
268,150
249,837
July 1 to Jan. »i.-.. 7,633,133 7,221,080 2,230,688 1,816,295
ISouth. Pao.Co.a. Feb. 6,682.012 6,812,640 1,390,223 1,280,931
July 1 to Feb. 28... 63,241,006 63,828,095 20,53i,860 20,099,828
Southern Ral! way Syst.—
Southern Ballw. a Feb. 3,411,850 3,779,894
771,919 1.021,338
July 1 to Feb. 28. ...32.07^798 30,551,088 9,170,817 8,771,406
854,632
Mobile &Ohlo.a.. Feb.
683,642
136,987
258,128
July 1 to Feb. 28 ... 5,406,837 8,248,809 1,786,066 1,749,048
541,067
522 293
Cin. N.O.&T P.a.Feb.
182,646
129,860
July 1 to Feb. 28... 4,845,118 4,457,863 1,124,469 1,023,246
216,273
268,882
30.605
Ala. Gt. Bouth.a..Feb.
43.809
400,392
July 1 to Feb. 'Z-i.... 2,167,418 2,075,499
481,001
140,311
149,964
Ga. Bouth.&Fia.aFeb.
29.820
39,206
July 1 to Feb. 28... 1,185,150 1,153,720
287,864
300,276
47,356
54.077
Cexas Central a. ...Feb.
10,788
8,326
693,269
664,634
224,535
July 1 to Feb. 28 ...
170,242
261.481
247,745
26,205
Toledo AO.Ont.a. Feb.
84,958
691,843
July 1 to Feb. 28 ... 2.688,038 2,480,076
547,082
Union Pao.SyBt.*.. Feb. 3,821,461 3,887.907 1,698,168 1,504,491
July 1 to Feb. 28 .39,826,838 37,923,072 18,841,911 17,502,461
Wabash. b
Feb. 1,675,769 1,522,941
8.959
146,163
July 1 to Feb. 28. .-.17,238,793 15.661.083 3,339,278 3,747,431
S93.365
423.397
Wisconsin Cerit'l. bFeb.
61,688
89,048
July 1 to Feb. 28.... 4,382,696 4,352,261 1,479,212 1,380,768
$
'
.
.
,
'•,
28,532
28,1.'>4
.
»..#
122,51f^
63,197
Uo. Kansas <Si Texas
Mo. Paclflo <St Iron ftlt..
Central Branch .,„.
If 00. Jaobson & K. City.
Mobile lb Ohio
Naahv. C^at. & St Lonla
National RR. of Mexico..
Rio Griiuae aomuern.
8t. LoDif Southwestern.
Southfim Railway ,.,...
.......
Texas Central
Texas <& Paotflo...
Toledo* Ohio Ceiitr»(.
Toledo Peoria & Wftat'n
Toledo St. L. & West.
Wabash
2.'9P
132,24>'
....
Mineral RanK»i
MinneapoilB & 8t. Lonls
Minn. 8t. P. & 8. 8te.
106.000
19,700
217
13,239
1,460
21,273
18,000
• --•'
3,945
.
Kanawha & MlohiKan..
LonlBvUle & NaehvlUo.
203
13,60('
166,858
95,020
108,25>-
Chlo. Term. Transfer
Colorado <fe Southern
DeoTcr A Rio Oran«te
....
Detroit Southern
Duluth yo. Shore * Atl
2,646
32,476
145,176
49.100
849.000
196.900
35.122
145,378
62,700
955,000
218,600
2,516
153,914
1229
Current
Previous
Tear.
Tear.
-
—
Eamiiigs.——
Current
Previous
yet
Tear
Tear.
$
$
At«ta.T.&8. Fe.b..Feb. 4,669,306 6,346,860 tl,107,188 tl,937,724
July 1 to Feb. is.... 44,6'J2.134 46,566,459 tl5.265,961 118,^63.078
Atlantic & Blr. RR.aFeb.
8.804
78,798
68.488
22,585
July 1 to Feb. w8...,
129,9^2
668,748
208.698
447,968
649.6.'S7
Atlant Coast 1.. a.. Feb. 1,738,123 1,814,949
717,225
July 1 to Feb. -iS... 14,009,170 13,218,232 5,029,374 4,912.000
Ball. a. A PittbH.b Feb.
F32,438
172,574
491,520
166,092
July 1 to Feb. 2s .., 6,346,062 5,020,256 2,097,713 2,131,649
BnflalOiSiB'sqG f h.a Feb.
12,785
71,443
62,833
10,403
221.418
July 1 to Feb. 2».,..
729823
649,634
230,462
82,641
Canadian Paclti o.» Feb. 3,056,0P4 2,541.862
802,172
July 1 to Feb. 2».... 33,460,618 30.844,9^9 9,869.&88 9.108,242
114,9^0
Ctnt.of Georsria.a.Feb.
707.467
110,763
834,466
July 1 to Feb. 2-^... 6,936,500 6,664,668 1,901,?)19 1,684,657
440,8 4
Cbesap. <]! Ohir> b. Feb. 1.447,251 1,440,088
440.616
Joly I to Feb. 2a.... 13,568,215 12,642,081 4,887,355 4,243,922
263,«72
Chicago dt Alto T). a Feb.
706.489
897,166
172,276
July 1 to Feb. 28 .. 8,357,763 7,882,98& 2,858.197 2,618,235
763.615
Ohio. M.ASt. P.a Feb.
721,173
3,311.570 8,411.198
July 1 to Feb. 28.... 88,588,962 33,267.287 12,330,020 12,164,847
222,985
Cl.«Mn.Ohl. AStLbFeb. 1,495,775 1,464,803
173,942
299,444
Jul 1 to Feb. 28... 3,110,691 2,833,227
611,034
58,078
PeorlaAEaP'n .bFeb.
60,181
208.630
233,289
96.260
150.248
Jan. 1 to Feb. 28....
463.627
462,306
d82,47
Color'do&Bonth.b Feb.
423.327
399,120
<I86,288
July 1 to Feb. 2a.... 4,138,167 4,089,064 1,147,336 1,104,758
5,183
44,949
11,683
Copper Range. a ..Jan.
38.030
125,016
142,718
July 1 to Jan. 31....
356,884
317,840
Cumberland Telephone A
139,262
867,802
819,591
141.420
Telegraph Co a.. Feb.
Apr. I to Feb. -^S.... 8,817,684 3,301,916 1,497,408 1,325,402
23,931
72.280
73,913
18,458
Detroit A Mack' caFeb.
210,894
633,318
641,281
194.716
Joly 1 to Feb. 28....
<
.
a Net earnings here given are after deducting taxes.
b Net earnings here given are before deducting taxes.
eThesetlgures are In Mexican currency, and are convertible into
gold at the current rate of exchange.
d Net, after deducting taxes is $64,911 and Jf63,60O for 1908
and 1904 respectively for February and $985,319 and $931,910
tor period from July 1 to Feb. 28.
r For February additional Income is $4,763 this year, against
f43 last year. From July 1 to Feb. 23 additional Income is
$38,286 this year, against .f 43,409 last year
Including other income, total income (exclusive of results of coal
oompanles) for Feb. Is 9612,377 in 190.^, against $568,025 In 1904,
and for period Irom July 1 to Feb 28 Is $8,151,683 in 1906, against
$7,279,140 in )if04. Otdoctlons from total income for additlouR and
Improvements were $39,226 in February, 1905, against $57,667 in
1904. and from July 1 to Feb. 28 were $819,389 In 19b5. against
1904.
$461,3^4
m
For Februarv. 1905. taxes and rentals amounrwrt to $186,660
Against t203,038, after deducting which net for Ftbruary, 1906,
was $920,528. against $1,734,688. From July 1 to Feb. 28, 1906,
net after df^daoting taxes and rentals is $13,781,384 this year, against
t
*16,823.198 last > ear.
X These figures represent
1
30%
of gross earnings.
Houston A Texas Central and Us subsidiary
lines are Included.
Interest ChaiVMS And 8arplu8.
.
Roads.
Atlantic ABirm... .Feb.
July 1 to Feb. 28
.
Jni.. i;c.itiir-, <!•
—
—;.•'. <//.Vi7 Efim'gs,-^
Current
I'lrvinus
Vnrrenl
Previous
Tcar^
Tttir.
Ymr.
Tear.
$
14,858
116,618
$
9,167
66,293
$
7,782
92,083
$
863
73,630
def.
THE CHRONICLE.
1230
— Int., Rentals,
Feorla
A East. ...Feb.
to Feb. 28....
Copper Range
Jan.
joly 1 to Jan. 3i
Jan.
1
Onmberland Telephone A
Teleg. Co
Feb.
& Atl...Feb.
I>ul. Bo. 8h.
July 1 to Feb. 28
ER
Georgia
-,.
Feb.
July 1 to Feb. 28....
Gulf
& Ship
July
Feb.
le!
1 to
Feb.
'2»
Hooking Vallev
Feb.
July 1 to Feb. 28
Kanawha A iVtJoh.. Feb.
July 1 to Feb. 2n
LonlBl'na & Ai-i^aTi.Feb.
July 1 to Feb. -j-S....
BUner al
R ange
Feb.
July 1 to Feb. 28....
H. Y. Ont. & Wf>Pt.. .Feb.
July 1 to Feb. 28
Reading —
-
Tear.
Tear.
Tear.
Tear,
$
$
$
$
31,381
151,466
319,979
640,360
44,5H2
89,149
8,437
59,062
12,008
85,841
738.816
a5l,093
a4 12,23 2
26,644
200,099
71,494
613,006
19,729
159.733
11,350
90,800
9.446
75,573
60,499
491,335
All companlris ...Feb.
865,500
July 1 to Feb. 28...^ 6,924,000
BtoQrande Junot.-Jan.
BloQrande «lonth..Feb.
8,333
18,899
July 1 to Feb. iS
145,458
Seaboard Air Line.. Jan.
254,761
July 1 to Jan. 31 .. l,7i2,290
Feb
Texas Central
2,583
July 1 to Feb. 28....
20,666
37,061
Toledo A Ohio f ^"n.Feb.
301,053
July 1 to Feb. 28.
Wisoonsin Cen rral. Feb.
145,047
July Ito Feb. 28.... 1,168,362
.
*
— ,—Bal,
of Net Eam'gs
Current
Previous
Roads,
BniTalo *8'Bqneh..Feb.
July 1 to Feb. 28
Oley.Oln.Oh.A Bt.L.Feb.
Jan. 1 to Feb. 23....
etc,
Current
129,412
20,696
88,642 -df.38,948
709,133 'dn64,027
a 52,703 *df.ll.325
*118.357
a 114,470
25,176 *def.7,274
*99,237
167,839
77,569
m,190
662.952 -1,134,110
*8,294
£0,457
164,256 *def, 3,492
*1,360
11,243
*120,957
78,167
*def.259
9,446
*51,370
76,064
56,530 def.40,688
454,113
764,317
118,556
ASHIIiei.
*16,875
*4S,09»
*def 8,450
.
Atlan Shore Line Ry. December.
Aur. Elgin A Chic. R; January ..
BlBghamton Ry
February
Boston A Worcester.. January ..
Burllngt'n(Vt.)Trac February
.
.
Gas A Electric. January ..
Frtbruary
Cent. Penn. Tract
Chicago A Mil. Elec. February
Oal.
.
Ohic A Oak Partcc. February .
Oln. Dayton ATol.Tr January
Cln. Newp. A Oov.Ry. November
.
Citizens' Ry.
A
ramna
Kast St. Louis A Bub. February
Elgin Aurora A Sou.. January ..
.
Ft Wayne A Wabash
January
Valley Traction..
Eleo.
..
Ry.Oo WkMar26
Honolala Rapid
A Land Co
7.392
504,215
and other
lessees)
tan. 1
to
Latest Datt
Ourrtni
Tsar.
9
39,654
205,5ie
d 62,43
26.25P
35,372
22,473
22,136
15.864
14.148
4,452
276,613
34,634
18.048
59,801
31,041
80,807
10,391
432.02f
75,617
48.426
129,67i
33,498
928,177
PrtvioM'
Tear,
»
35,975
191.922
Toledo A Western...
Toronto Bailway ....
T win Olty Rap. Tran.
Un'd Bys.of St. Louis
United of San Fran.
Wash. Alex. A Mt V.
Yountrstown-Rbaron
9,409
30,406
11.209
79,373
11,364
96,425
38,906
8.096
27.466
11,685
68,047
11,010
19,92f
65,166
24,565
830,563
87, 12;^
201,252
33,906
123,87>-
34,694
68.566 59.845
138,340 {31,552
.
Traction Co.. February
Indlanap. & East. Ry. January ..
Indianap.Ai Martinsville Rapid Tran.. February
IlllnolB
Indianapolis&North
western Traction.. January
..
32,628
14,143
9.505
276,513
70,792
37.035
123.869
31.041
905.073
16.477
56.808
23.426
730.366
118.002
177,518
34.694
59,845
421.902 1370,117
68,56(
}
24,951
15,674
42,983
82,990
15,126
23,719
14,429
30,736
76.267
13.523
61,240
15,674
50,875
14,429
15,186
13,523
6,425
4,824
13,72i-
10,666
28,598
M
.
.
.
284,349
21,45e
297,386
611,008
25,560
657,88;<
581,319
21,456
611,619
659,878
29,394
14,271
21,498
20,825
9,31fc
6,850
188,170
239.702
27,678
168,685
66,945
30,849
45,740
26,207
26,062
16,016
849,487
489,191
72,378
889,099
60,508
29,200
'26.826
20.725
18,864
340.410
497.814
57.734
352,303
Mnncle Hartford A
Ft.
Wayne
New Orleans Rys.Co.
Norfolk Ry. A Lt.Co
Blor.UhloTr.ALt.Co
Northern Texas Trac.
Northwestern Kiev..
Oakland Tract. Cont'
Olean St. Railway..
Orange Oo. Traction.
Peeka.I/t'gARK.Co.
Union Tract
Rys Co.Goa. -Hoads
Pottsv.
Light Go's
24.002
February
11,220 11.278
December. 149,697
4.674.344
December. 54,011 50,787 668.189
60,312 56,888
February
125.777
February
36.423 36,333
80.631
February 110.282 102,470 224.560
February 100.354. 85,540 205.027
February
6.615
15,403
6,400
Febraary
11.714
5,462
6.793
16,88'>
Febraary
7,766
7,766
February
S7.24C
12,966 11.806
Febraary
46.789
23,362 19,529
February
2,086
4,345
2,038
.
.
.
.
.
108,633
103,395
41,170
28,089
81,551
53,118
21,207
18,133
39,734
&8,83(
189,813
126.462
67,460
24,987
41,188
61,321
201.760
123,442
..
74,20.^
..
.
D^cmber
Wk Mar 26
18,708
46,480 4l",68i
:Mwk.Mar. 81.183 77,048
February 552,793 566,438
February 516,966 482,403
January .. 16,440 17.614
February
40,995 3S,065
.
.
.
d 1.010.293 d819,944
41,340
89,734
130,274 116.080
201.760 189,813
254.663 262,248
74,205
67,460
31.139
24,987
46.247
41,188
279,359
284,349 261,555
232,005
551,819 4"87.945
912,918 867.822
1,157,932 1.131.536
1,080,337 1,009.313
16,440
17,614
82.051
73.013
II
Street Bailway Net £araiHirB«—The following table gives
the returns of Stbbet railway gross and net earnings received
week, The last general snmmary which we f nmlsh onoe
and in which we bring together all the roads from
month,
a
which monthly returns can be proonred, was given Mar.
25, the next will be given April 29.
this
>— Gross Earnuigs,
—
>
Net Eamings.Curreni
Previous
Current
Previous
Tear,
Tear,
Tear.
Tear.
17.948
36,975
297,386
2,879,051
9.316
20,726
2,008
5,145
94,946
1,378,897
777
2,554
3.637
86.776
1,108,711
def.539
8,371
611
239,702
497,814
106.465
230,888
104.137
222,698
27,673
67,734
14.668
33,310
10,288
22,530
36,065
73,012
17,788
34,024
13,755
28,855
Alb'nyAHud.RR.aFeb.
19.637
Jan. 1 to Feb. 28
89,«51
310,503
Kan. City Ry.A Lt.aFeb.
8,267,490
Jime 1 to Feb. 2S
Lond.3t.Ry(<'ftn.)aFeb.
11.669
25,025
Jan. 1 to Feb. 28....
Milwaukee Elec. Ry. A
2?4,843
Feb.
Light Co..b
489,194
Jan. Ito Feb. 28....
Milwaukee Light, Heat A
Traction Oo b . . Feb.
33,855
72,378
Jan. 1 to Feb. 28....
—
.
.
YoungstowB-Sharon Ry.
Feb.
A Lt. Co.a
40,995
82,051
Jan. 1 to Feb. 28....
a Net earnings here give n are after deducting taxes,
bJBTet earnings here gl ven are before deducting taxeis.
Interest Charges and Surplus.
—
Int.,
Rentals,
etc.
—
Current
Previous
Tear,
Tear.
.
of Net Eam'gs.—.
Current
Previous
^-Bal.
Tea?'.
Tear.
Roads.
Lond.8t.Ry. (Can.). Feb.
Jan. 1 to Feb. 28....
Milwaukee Elec. Ry. A
Feb.
Ught Co
Jan. Ito Feb. 28....
Milwaukee
1.925
4,048
1,726
3,787
def.1.148
def.677
def.3,176
71,192
145,542
71,735
146.454
*36.454
*88,334
*8S.425
*78,567
18.372
37,315
15.273
29,493
def. 3,804
*def,4,985
def.6.963
def.
2,265
Lt Heat A
Feb.
Trac. Co..
Jan. 1 to Feb. 28....
def.4,005
After allowing for other income received.
ANNUAL REPORTS.
to "Annual Raporta," which
omitted to-day, will be found in Chronicle of March 18.
Annual Reports.— The index
is
Central & Hudson River RB.
CReport for Half-Year Ending Dec. 31, 1904. J
The company, having changed its fiscal year to correspond
with the calendar year, the report for the six months ending
Dec. 81, 1904, with the comparative iocome accouat and full
traffic statlgtics, also the balance sheet, will be found on
pages 1240 to 1248 of to-day's CnRONicLE, Tha annual report for the year ending June 30, 1904, was given in the
Chronicle of Oct. 1, 1904.— V. 80. p. 1175, 1112.
New York
22,598
Tract. Oo.
System (Buffalo) . . February . 390,939
Jacksonville Elec.Oo. January .. 25,560
Kansas City By.A Lt. February il0.50B
Lake Shore Eleo. Ry. December. 54,777
Lehigh Val. Trae. Oo.
Street Ry.Dep
February
3S,68^
Eleetrlo Light Dep. Febraary
14,477
21,78V
Lexington Ry
February
LimaEI. Ry.&Lt.Oo. January .. 26,207
LondonSt. By.(Can.i February . 11,669
ad._(WU.) Traction February
7.314
Het. west Bide Elev.. February 169,647
MIL Kleo. By.A Lt.Co February 234.843
MlLLt.HeatATr.Co February
33,866
Montreal Street By
February 185,864
14,937
49,805
Spanish silver.
rhese are results for properties owned
b These are the combined earnings of all the constituent oompaniee.
c These are results for main line.
d Figures here are from July 1.
a These earnings inulude the Detroit United Ry., Detroit A Port
H iron Shore Line and the Sandwich Windsor A Amherstbarg By.
*
February
Ry. January
19,500
80,607
t
22', 136
Tr.
Houghton Co. St.
Houston Elec. St. Ry. November
Intemaf 1
5.162
432,02^
36,707
23,699
63,288
33,498
83,287
7.584
January
31,139
January .. 46.247
roLBowLQr.ASo.Tr December. 24.397
Toledo Rys. A Light. Febraary 133.40' 124,037
Blectrlc Co. .
rerre Hte.Tr. A Lt Co.
Light
(Muscatine, Iowa).. February
Cleve. A 80. W.Tr.Co. February
Qeve. PainsY. A £. . Februttry
Detroit United Ry..i) 2dwk.Mar.
Duluth Street Ry... '(Iwk.Mar.
Havana
22,47:-<
January
7,304
4l,34C>
..
9
*df.40,680
STREET RAILWAYS AND TRACTION COMPANIES.
i
19,537
97,S2r
7.748
26,269
17.134
January
Tsar.
Hoads.
aOhargea here include road-rental (paid by
Albany A Hudson ... February
American R'ys. Oo.D. February
828.428
15,104
Syracuse Rap.Tr.By. January
deductions.
Oeobs
9
258.416
26,314
^uth Side Elevated February
After allowing for other Income reoeivod.
Eabhihoi.
Tsar,
9
9
123.920 109.376
12,307
7,857
*171,557
*17,602
*283,085
*34,361
*1, 028,390
Seattle Electric Ck)...
Lauti Dtue
Prswiovs
Rookford Belolt A
JanesvlUe
February
8t Joseph (Mo.) Ry.
Lt. Heat A Pow. Co. February
San Fran. Oakland A
San JoaeRy
February
Sao Paulo (BrazUi
Tram. I/t A Po. Co Wk. Mar, 6
Elect. Oo.
I to
Tsar.
Eloohester Railway .. Febraary
Booh.AEaBtBap.Ry. Febraary
Savannah
Jan.
Ourrsnt
Tsar.
Boranton Railway... Feoruary
-df.10,632
*df.29,439
MarningM
Week orMo Our'nt Frev'ut
*df.56,424
'dtl63,687
*31.849
451,124
885,264
830.310
7,082,112 6,579,807 4,667,210
7,708
4,090
5,949
17,833 *def.4,185 •def.5,945
*20,868 *def.5.975
144,740
*20.864
*27,909
238,314
*502,869
*151,2S8
1,680,973
2,583
8,205
5.739
20,666
203,869
149,580
*3,413
38.595 •df.l 1.774
*424,79.S
*301,178
315.673
145.389 *df.81,435 *df.82,470
*335,366
*248.978
1,166,975
Latest Groti Earnings
Onr'Hi
WttkorUt Ytar. Frev'Mi
Itar.
Latest Qross
oaou
.
Previotu
*4,197
*10.857
12,237
*204.091
*232,397
98,221
313,494 df.146,037 def.90,R09
623,170 af.129,3126 dt.323,722
44,597
15,599
13,481
7,oe8
89,192
61,099
8.437
?,146 def.3,284
51.374
83,656
73,942
Vol. lxxx.
22,847
6l'4.639
116.490
72.963
811.286
180,057
13,625
11.839
16,398
28,864
36,919
4,081
Fittsbnrgli Cincinnati Chicago & St. Louis Railway.
CReport for Fiscal Year Ending Dec. Si, 190Jt.)
The operations, earnings and charges, and the general
balance sheet for four years were as below. The text of the
report will be given next week.
OPEBAIIONS AMD FISCAL RBBCLTS.
1903.
1902.
1901.
1904.
1,166
1,164
1,164
1,169
Mllesoperated
Operationt—
__ _^
6.375,426
7.865,826
7.246.108
8.098.685
PassenKerH Cirrled.
197,503,218
243,971.280
220,H71,099
493
nille.276.9ll,
1
PaH8 carried
2-08 ois.
2 08 cts.
2 09 ota.
196 ots.
Kate Der pass. p. ra.
FreUht tons, car'd. 22,772,832 28,841,680 21,660,060 19,147,097
Freleht. tODH, 1 m.25526 18385 267485«005 25«6.'S80830 2485772670
0'60 cts.
B5 eta.
J2 cts.
Rateper ton p. m.. 0'6d cts.
Ape.
THE CHKONICLE.
1905.]
1.
1904.
Earnings—
$
Passeager
Freight
Mall, express,
dco...
Total
Expenses—
Tran sportatlon
Halnt. of eqalpm't.
Malnt. of way, etc.
General expenses..
Taxes
Total
P.o.of exp.toearns.
1902.
1901.
$
$
2,144,041
4,598,713
16,144,910
1,872.934
4,105,697
14,84e,Sll
1.733,766
24,209,492
24,650,401
22,610,557
20,683,174
9.426,831
4,571,711
2,676,874
530,820
903,702
9,692,917
5,006.087
2,829,395
618,186
828,931
8.595.097
4,237,029
2,827,408
441.473
803,862
7,313,794
3,780,898
2,486,656
352,714
752,591
18,109.938
18,775,516
16.904.870
(74 81)
(76-17)
(74-77)
5,087,792
5,551,022
16,520,384
2,138.084
17,418,1568
6,09^,554
Net earnings
1903.
5,874,885
14.686.563
(7101)
6.705,687
5,996,621
INCOME ACCOUNT.
Receipts—
Net earns, of P.
O.
& Bt. L
Profit on 8t. L. V. &
T H
1904.
1903.
$
$
1902.
1901.
C.
Profit
on
Lit.
Miami
Misoellaneons
Total
6,099.554
89,056
5,874.885
5,706,687
65.970
61,182
71,042
5,996.621
96.129
67,151
87,535
6,224,580
5,936,067
6,776,729
6,217,436
2,307,637
139,344
669.146
2.186,113
132,361
589,988
179,660
241,593
2,202,506
131,687
254,878
73,609
92,069
808,661
60,000
364,020
2,161.601
132,239
,.
Biibursemtnts—
Interest on bonds ..
Rentals paid
Oar trnsts (inol int.)
V.&T. H. loss.
Loss on L. M. RR...
St. L.
224,356
183,746
690,058
63,624
379,890
64,469
1,841,512
1,651,414
1.651.22Z
1,526,702
Total
6,279,426
Balance, BnrpluB.... def. 54,846
5,928,951
7,116
5,638,661
138.080
5.845.887
371,549
Extraordinary exp.
D. & W. sink. fund.
Consol. M. sink. fd.
Mlsoellaneoas
Dividends*
*Oii pref.
847,367
60,000
359,860
180,611
4%; on com. 2)<% In 1901 and
Aiteta—
$
60,000
318,984
2,250
S% each year since.
BALAMOE BHBET DEC.
1904.
1,419,756
1903.
31.
1902.
$
1901,
$
Road and eqiilpm't.103,938,878 101,791,040 86.807,237 94,786,004
Bds. &siks. owned.
Supplies on band...
Little
Miami RR for
betterments
Cash
Casb on spec, dep't.
Cash In transit
Cash to pay Interest
Bills receivable and
acots.daeby agts.,
companies, etc...
Sinking lands
1,956,5l8
1,682,788
1,453,269
2,249,462
1,175,448
1,636,564
2,411,698
1,361,047
265,781
1,164,655
1,974,418
349,100
176,713
447,685
691,969
130,976
920,728
38,017
592,334
306,173
252,770
328,337
266,061
299,068
287,371
1231
The operations and income account
and the balance sheet follow:
Earnings—
Qrofs
4,731,703
369,498
3,514,822
232,519
Total
116,004,191 112,663,527 106,344,601 103,632,786
Liabilitiet—
Btook, common*
25,830,989 85,332,306 25,332,823 26.316.146
Stock, preferred*... 27,459,752 27,468,186 22,706,919 22,705,369
(eee
Bt.
52,260,000
1 ,772,754
Dae other COB
663,726
Interest on bonds, t
690,309
Dividends payable.
920,762
Slnklngfond
2,238,810
Mlsc.,lncL mortB. &
ground rents.
1,007,715
Profit and loss., bal.
8,759,925
Ifd. Seetion)
Total
48.867.000
2,134,194
828,058
764.373
825,715
1.703,823
46,931,000
3,123,087
1,279.638
748,269
825.616
1.809.065
953,336
8,706,835
494,177
3,696.512
45,705,fl00
2,708,599
623,481
720,168
825,290
777,713
676.289
3,678.731
...116,004.191 112,663,627 106,344,601 103,632,785
*Inolndes amoantB for other companies' stocks not exchanged,
t Includes accrued interest and matured Interest unpaid.
-V. 80, p. 1175.
Canadian Northern Rail?ray.
(Report for Fiscal Year Ending Jane SO, 1904. J
President William Mackenzie, in the report submitted at
the shareholders' meeting in London, England, on Oct. 4,
1904, said in snbstance:
Qbnebai. Rebultb.—The gross earnings from all sources for the
year ehow the substantial increase of $793,123, or 32"4 p. c; the net
earnlDgs an Increase of $261,644, or 304 p. c. In common with
other railway companies operating In Canada, we had an unusually
severe winter, which abnormally Increased the working expenses.
Notwithstanding this, the coat of operating was Increased by only
one-half of one percent. The acqaleltlon of the various subsidiary
companies has been amply justified by the results of the year, the net
revenue having been more ihan sufficient to meet the Int. charges.
Extensions.- Owing to the general prosperoos condition of the
country and a shortage of labor due to the demand In every other industry. It has been found impossible to eomplete the main line to
Edmonton within the expected time. The work Is progressing at a
rapid rate and we expect that the line will be ready for operation to
Edmonton in time for the movement of the crop of 1905. The construction of the branch lines in Manitoba was retarded from the same
cause, but a large addition to the mileage of ;the road will be rei*dy for
operation this fall. [Oompare p. 1^31. Ed]
Immigration to discrlots tributary to your company's lines has been
most satisfactory iind. The increase in the number of home
stead entries, and the purchase of lands by colonization parties la
very large compared with any previous year. The directors, there
fore, have in contemplation the construction of further branch line?,
which will have the efleot of encouraging settlers to bring their lands
of the
under immediate cultivation.
Outlook.— The buslnees conditions prevailing throughout the Dominion, and partloalarly in Western CJacada served by your railway,
are such that the directors have every hope that In the coming year
they will be able to show a substantial increase in gross earnings.
In 1908-04 the road carried 117,517,000 feet of lumber,
aghicat 85,651.000 in 1902 03; grain, 9,993,195 bushels, agaicst
12,887,110 in 190208.
The total number of miles of railroad owned and operated,
including leased lines, at the close of the fiscal year, was
1,849 6 miles, located as follows: Province of Ontario, 353 7
miles; Province of Manitoba, 930; Northwest Territories,
32-2; State of Minnesota, 48*7.
The equipment on June 30,
1904, included: Locomotives, 98;'cars in passenger service, 52;
cars in freight eeivice, etc., 3,6S6.
06-35
2307
17-17
04-19
19-64
25-25
190304.
$516,808
Freight
Mails
1,896,379
8,716
21,408
2,412,384
13,948
28,718
33,905
270,845
$2,449,579
$3,242,703
$341,130
215,696
838,263
194,199
$476,930
296,335
1,174,932
172,575
$1,58.<?,293
$2,120,772
Express
Miecellaneous, including telegraph, dining and
sleeping cars, and profit from elevator and
other subsidiary companies
Total gross earnings
Operating Expenses—
way and struetures
equipment
Maintenance of
Maintenance of
Conducting transportation
General expenses
Total operating expenses
Per cent of gross earnings
1
(65-^0)
(64-88)
Net earnings
$880,286
Fixed charges for year ended June 30, 1904—
Interest on first mort. bonds, guar. prln. and int. by
Qovernment of Manitoba, viz.
£ 205,4C0.Date of issue, Aug. 1, 1896.
Feb. 1, 1899.
do
£290,900.
*177,3C0.
do
Feb. 1, 1899.
Not. 1, 1900.
£44,700.
do
£72,000.
do
July 6, 1900.
do
Sept 30, 1901.
£1,108,600.
do
Apr.
1, 1903.
$1,600,000.
Interest on perpetual consolidated debenture stock—
£400,000— Date of issue, June 30, 1903
Rentals leased lines, etc.- North. Pac. & Manitoba Ry..
Minnesota & Manitoba RR
$1,121,930
$39,985
56,629
34,514
8,702
231,575
160,000
*76,407
210,000
13,960
73,757
Interest on equipment leases
$805,528
$316,402
Total fixed charges.
Surplus for year
Part half-year's Interest only.
*
For part of year only.
OEHBRAL BALANCE SHEET JUNE 30, 1904.
Cost of railway & equip
$40,339,180 Capital stock
$25,760,000
1,9. 6,167
Four
p. c.
other
First
mortgage bonds, 4
traffic
(except a small amount at
10,841,813
*« p. 0)
Car trust obligations
3,1 8J,356
Unpaid pay rolls
170,481
and bonds ofi
companies owned.
cost ( par, $a.630,00O)
y 1.946,667
Material and supplies
402,8SS
Dae from agents and cos.,
balances,
&c
893,148
cons. deb. stock..
p. c.
nnpaid audited vouehers...
319,440
Due toother companies
705,0ti5
Accrued Interest on bonds,
Ac, to date
&
Oorrent accounts. . .
02 03
$389,171
1902-Oi*.
—
Bonds
Ine.,%
27'09
S0'i9
Passenger
t
4,966.749
405,639
two years past
OPBKATIONS, EABNINQS, CHABOE8, ETC.
Operations—
1902-03.
1903 04.
281,^01
No. of passeogers carried
358,133
do 1 miie
do
16.733,608
do
21,836,407
2*320 cts.
Earnings per passenger per mile
2-367 cts.
$92-58
Earnings per traffic train mile
$80-70
901,608
Freight (tons) carried
1,109,685
261,342,113 294,498,675
Freight (tons) carried one mile
0"786 cte.
0-819 cts.
Earnings per ton per mile
$l-9]52
Earnings per traffic train mile
$2-2915
Earnings per mile of road
$1,913 23
$2,402 71
Capital stock
3,998,336
497,007
for
Surplus
Total
$43,688,480
Total
91,664
647,814
$43,682,490
y This amount represent* the capital stock and bonds pledtied to secure the
$1,016,667 4 p. c. consol. debenture stock (compare V. 80. p. 1174), viz., at par:
Minn & Ont.Bdge.Co. stk. $100,000
Lake Sup. T. 5 p.o. bonds. $1,000,000
First 41^ p.c. debs
180,000
600,000
Can. Nor. Teleg. Co. stock.
Minn. 4 Man. KK stock..
800,000
400.000
Gen. mort. 5 p. c. bonds.
Gen. mort. 5 p. c. bonds.
850,000
Winni. Land Co.. Ltd., stk.
loo.oOO
SOO.t-OO
Lake Sup. Term. Co. stock.
500,000
First mort. 5 p. c. bonds.
See bond offering on page 1284; also compare V.
116.— V. 80, p. 1174.
80, p. 996,
Wabaeh Fittsbargh Terminal Ballwaj.
(Official Statement of Feb. 16, 1905J.
This company, whose entire $10,000,000 capital stock ex-
cept shares to qualify directors is owned by the Wabash RR.
Co., recently oDtained the listing on the New York Stock
Exchange of first mortgage 4 p, c. bonds to the amount of
125,000,000, antborJzed issue limited to |50,000,000; also its
entire issue of |20,000,000 second mortgage 4 p. c. bonds of
1954, the latter being income bonds to and including June 1,^
1910. The f flaoial statement made under date of Feb. 16 to
the Stock Exchange feffords the following information:
Interest on Second Moetoaob Bonds.-The second mortgage
bonds are entitled to interest at the rate of 4 p. o. per annum, payable
June 1 and Deo. 1, but from Deo. 1, 1904, to June l, 1910, suoh interest is payable "only out of the net earnings and revenues of the railway company acquired during the periods to which said interest instalments respectively relate," it being expressly agreed that the
term "net earnings and revenues" shall be taken to signify the
amount determined by the board
of directors to be remaining after
deducting from the gross earnings and revenues of the periods aforesaid the expenses of operation and maintenance, taxes. Interest on
Urst mortgage bonds, rentals, repairs and Insurance. The action of
the board of directors ehall be final and conclusive as to the amount
of Interest, if any, so payable; no Interest will be payable if the
amount is less than one-half of 1 p. c. Ihe Interest to and including
June 1, 1910, shall not be cumulative.
Propertt Covered by Mortgages.—The first and second mortgage bonds cover the ocmpan y's railroad extending from a connection
with the Wheeling & Lake Erie RR. near Jewett, Ohio, easterly to
Pittsburgh. Pa., a distance of about 60 miles; also all equipment,
terminals, bridges, stations, warehouses and lands designed therefor.
Also all leaseholds and contracts, Including the tratllc and trackage
contracts numbered 1 and 2 below. They also cover the following
amounts of stock of the Wheeling & Lake Erie RR., constituting a
mcjorlty of its entire share capital, which have been pledged with the
trustee under the first mortgage of the Wabash Pittsburgh Terminal:
SECURITIES OF WHEELING & LAKE ERIE RR. FLEDGED.
Total itsued.
PUdged.
$847,500
.$4,986,800
6,428,8C0
11,993,500
Second preferred slock
20,OCO,000
11,870,C00
Oommon stock
None.
Bonded debt ontBtanding
14,671.000
The railroad of the company now constructed extends from a connection with the Wheeling A Lake Erie system near Jewett, Ohio,
west of the Ohio River, to a passenger station and local freight house
In the business center of Pittsburgh, thus affording a direct and
through line from Pittsburgh to the Great Lakes at Huron. Cleveland
and Toledo, at which latter coint connection Is made with the lines of
First preferred stock
THE CHRONICLE.
1232
[YOL. LXXX.
the Wabaeb eystem and through lines established with It to Ohioago. Increase of $4,048, due to an Increase of 14-05 miles In the average
distance each ton was carried.
St. Louie and the West. The oonftruotion of various branches at
The passenger traffic shows a decrease of 20 51 p. c. in the number
Plttsbarph or In lis vicinity )b oontempla'ed and In gome oaees wort
of passengers carried and a decrease of 17*08 p. o. in earnings. The
la under way. these lines being Intendel to reach the large st^el works
rate per passenger per mile InoreaHed '22 of a cent. The average
and (ither InduBtrlea supplylntr a large amount of railroad trafllo.
Control of Pittsbdeoh Terminal RR. & Coal Co.— Since the ex- haul per passenger decreased 2-22 miles; the average receipt per pasecution of ihe mortKagep the company baa acquired all of the capital sengar increased 2-40 cents.
The ratio of expenses to earnings during the year, Ineludlng betterBtock of the PittsburKh Terminal KR <te Cou,l Co., which in turn owns
practically all of the capital stock of the West Side Belt RR. Co., ments, waj 74-43 p. o, against 73-41 p. c. for the previous Tear.
which railroad extends from a connection with the Pittsburgh & Lake Excluding the item of betterments the ratio of expenses was 73-54
Erie RR. and the Pittsburgh Cincinnati Chicago & St. Louis RR. in p. 0. and for the previous year 7 1-91 p. o. of the gross earnings.
The reduction of I p. o. in the dividend declared for the year upon
Pittsburgh, crossing the railroad of the Wabanb Pittsburgh Terminal
Railway Co. at Belt Junction, one mile distant from the passenger the preferred stock was du9 to the decrease of $120,564 In the net
station in Plttsbnrgh, to Clalrton. connecting there wl'h the Pennsyl- income during the first six months.
Impkovemknts AND Renewals.— Daring the year 42"10 miles of
vanla lines and the Clalrton Bridge & Terminal Bv., which is owned
bythe Clalrton Steel Co., and crossing the B. & O. RR. at Bruoeton. main track were retewed with 75-poand steel rail, 9-.50 miles of main
The properties of those companies are subject to their own mort- track were ballasted and surfaced with gravel, 7-64 miles of new
gages, and the capital stock of the Pittsburgh Terminal RR. & Goal Co., sidings were built, 3 60 miles of sidings were removed and 243,059
owned by this company as above, is free in this company's treasury cross-ties and 319 sets of switch ties were laid. Four new steel-plate
and forms no part of the security pledged under its first and second girder bridges and oce through^trasa bridge, aggregating six spans,
mortgages. Through this line the ponstruotion requirements, io order making a total length of 332 feet, were built, replacing two old iron
to m&ke the atereed connection with the Union Ry.. owned by the Car- structures and three old pile trestlep, which were too light. Sevennegie Steel Co., thereby reaching the Carnegie Works and ether in- teen wooden trestles, aggregating 880 feet, were renewed. In addidustries at Homestead, Dn Qaesne and Braddochs, are materially tion a large number of minor improvements were made to better the
diminished, and such connection Is marie possible at a much earlier physical condition of the property.
date. The lines of the West Side Belt RR. Co. also connect with all the
Statistics, Etc —The earninga, expeoaes, etc., for four years
railroads reaching Pittsburgh from the south side of the Monongahela
past
and the balance sheets of D^c. 31 ccmpare as below :
Terminal
Pittsburgh
RR.
River and also reach all of the mines of the
& Coal Co. and certain mines of the Plttsburch Coal Co. The Pittsopebations, eakninos, expenses and chaboeb.
burgh Terminal RR. & Coal Co. owns about 15,000 acres of coal rights
Operatiom—
1903.
1902,
1904.
1901.
and 67.'^ acres of surface land in Allegheny County, Penn.; seven Miles
oper. Dec. 31.
880.
880.
887.
837.
mines ha^e been opened and equipped according to best modern prac- Passengers
carried.
1,651,369
2,077,436
2,082,851
1,874,091
tices, and the present c*paolty of the Company is in excess of 3,000,Passenger
mileage.
48,592,744 65.746,945 64,578,755 56,441,115
000 tons a year (compare "V. 78, o. 703; V. 79, n. 1024, 1955).
1-83 cts.
1-96 Cts.
2 05 cts.
1 86 cts.
p. pass. p. mile.
The outstandlntr bonds and stock of the Pittsburgh Terminal RB. & Rate
Earns, p. pass.tr. m.
$0-77
$0-89
$0-7774
$0-7566
Goal Oo and the West Side Belt. RR. Co. are as follows
*Fr'ght(tons)moved 3,542,331
3,704.268
3,418.106
3,393,168
Pittsburgh Terminal Railroad & Goal Co. stock (all owned
*do (tons) mll'iage. .539,897,162 512,529.218 456.713,H63 504,536,990
$14,000,000 Av. rate p. ton p. m.
by this company)
635 ots.
0688 ots. 0-724 cts. 0-714 ots.
Bonds auihorlz»d. $7,000,000; bonds outstanding
4,690.000 Earns.p.fr'ghttr.m.
$1-80002
$218
$1-87083
$2 14645
West Side Belt RR. Co. stock, $ .00.),000, owned by PittsE«rns.p. m of road.
»6,lll
$5,598
$5,815
$5,298
1,065,000 Av.tr.Ioad(rev.)tons
burgh Terminal RB. (feOoalCo
316-83
296-31
283-68
262 04
Bords authorized, $1,000,000 ; bonds outstanding
380,000
Earningt—
$
$
$
$
Important Contkactb —An Important element or value Is repre- Passenger
1,107,982
1,070,200
1,230,373
1,203,955
sented by the various contracts which the company has negotiated Freight
3,727,157
3,712,700
3,260,690
3,201,461
and under which it expects to derive large revenues. The most im- Mall, express, etc..
250,653
276,655
234,«95
228,811
portant of these contracts are the following
1. The contract with the Carnegie Stwel Co., whereby the Oainegle
Total earnings..
4,998,010
5,218,728
4,699,340
4,533,204
Company agrees to give to the Wabaeh Pittsburgh Terminal Ry. Co.,
Operal'g expenses —
for transportation over Its lines and its connections, one-fourth of all
Main ten anoe of way
823,425
785.339
914,022
943,931
the traffic, including ore, coal and coke controlled by the Carnegie Maint. of equlpm'c.
730,271
531,984
523,183
823,441
or
allied
companies,
destined
coming
points
Company
Its
to or
from
Transport'n expens. 2,000,828
2,0X9,229
1,788.586
1,578.538
west of Bufftklo and Pittsburgh and west frrm the west line of Penn- General
124,745
120,907
112.251
137,168
sylvania pr(Jpcted southward, which can be reasonably well served Taxes
213,913
208.018
204,522
206,983
by the railroad company. In ascertaining the amount of this tonnage
deliverable to the company there is deducted from the total tonnage
Total
3.889,344
8,960.770
3,651.365
8.389,802
of the Carnegie Company water freight and routed freight and ores,
Net earnings..
1,143,408
1,108,666
1,257.958
1,147,975
coal and coke and lime-stone to the Carnegie Works over railways
Other Income.
600
80,513
4,959
4,940
owned, controlled or leased by the Carnegie Oomnany.
2. The contracts with the Wheeling & Lake Eile and Wabash RR,
Total Income..
1,103,266
1,162,917
1,152,915
1,173,946
companies, dated Oct. 10, 1902, and May 7, 1904
Deduct
These contracts exist for the terms of the first and second mortgage Int.
bonds
543,750
543,750
543.750
543,750
bonds, and provide for the interchange, so far as legally possible, of Int. on St M.bonds.
125.000
on N. O.
125,000
12^,000
12^,000
all traffic between the parties fixing the division of earnings between
Dlv. on pref. stock. (39i) 355,200 (4) 473,600 (4) 473,600 (4) 473,600
them, and making an arbitrary allowance in favor of the Terminal
29,369
26,589
i
Boad; under them also the Wabash and Wheeling & Lake Erie com- Rentals
44,658
78,568
i
panies have the right to run their trains into Pittsburgh, and similar Add'ns & betterm'ts
rights are given to the Terminal Company over the lines of the other
Total
1,142,360
1.097,977
1,247,507
1,142,350
parties. In the contract of May 7, 1904, the Wabash and Wheeling &
11,289
10,565
31.596
15,409
Lake Erie companies pledge 25 p. c. of their gross earnings derived Surplus
east of Chicago and St Louis from traffic interchanged with the Term* Revenue freight only.
inal Company to such an amount as may be necessary to meet any
deficiency of income of the Terminal Company necessary to pay intert In 19U1 and 1902 the Items "rentals" and "additions and betterments" were distributed under the items In "operating expenses" of
est on the bonds secured by its first and second mortgages.
The effect of these contracts— which are speolfloally pledged as part maintenance of way and transportation.
of the mortgage security— Is to nnlte three roads as a system as
OENEBAL BALANCE SHEET DECEMBEB 31.
closely as it is possible to do so by operating agreement.
1908.
1904.
1903.
1901.
3. The contract between the Terminal Company and the Pittsburgh
Assets—
Liahaities—
«
«
$
$
Coal Co. providing for the operation bythe latter company of the Cogtof road
33, ,231.080 32,231,080
Common stock ..11, 840,000 11.840.000
mines of ihe Pittsburgh Terminal RR. & Coal Co. (all of whose stock Is Cost of equloment 8, ,428,267 2,428,2'17 Preferred stock... 11 ,840,00) 11,810,000
,?50.000 7,'^50.000
151,0j0
166,000 First M. bonds.
owned by the Terminal Company, but Is not part of the mortgage se- So curl lies owned
Second H. bonds.. i,625,000 3,625,000
onrlty) upon terms which Include the payment of a license tax by the Half int. in Koko51,000
mo Belt Ry
13,600
13,609 LO'ins & bills pay..
PIttBbur*!h Coal Co. at $350,000 a year, being equal to the amount of Advances
203,334
North'n
Accounts payable. 874,96rt
the fixed charges upon the entire authorized bonded debt of the Pitts44.2''0
810.500
310,850
Ohio Ky. Co. ...
41,262 Accrued Interest..
burgh Terminal RR. & Coal Co. and a royalty of 8 cents per ton on the Cash on hand
688.(171
16*,675
172.393
522,137
Unpaid wages
836,800
S«6,243
a94,533 Dividends p yable
236.800
coal mined under the agreement, which is to be applied as provided In Fuel and supplies.
900
1,64?
Sundry
accounts
Uivld'ds
unclalm'd
the sinking fund provision of the mortgage of the Pittsburgh Terminal
440,'i37
421,32.'i
receivable
Sundry
pay.
29,865
2«,9a
acois,
RR. & Coal Co. The agreement also provides for the payment of all Cou p. and dlv.acct.
H,275
9,873 Cleveland & New
taxes and insurance by the Pittsburgh Coal Co. As further consider- New freight car
66,969
CaatleRy. Co ...
67,763
ation the Plttebnrgh Coal Co. agrees to ship over the lines of the
contract
...
490.479
69>,«B9 New freight car
Wabash Pittsburgh Terminal Ry. Oo and its connections a minimum Equip, in suspense 337,3^5
450,000
731,692
contract
15 022
1,968
"l,959 Earns, adjustm'ts.
amount of 4 000,000 tons of coal annually from the mines operated by Sundries la susp'e
781,470
Profit
7tf2.758
and
loss
....
the Pittsburgh Coal Co., which company mined during the last year in
the neighborhood of 14,000,000 tons of coal, and this miuimum to be
Total
87,040,150 37,080.118
37,040,150 87,030,118
Total
Increased proportionately as the total annual output of the Pittsburgh
Coal Oo. increases beyond 14,000,000 tons. The Terminal Company — V, 79, p. 2747.
participates directly In the revenue derived from this traffic, both on
Washington (D. C.) Railway St, Electric Company.
aooonnt of the haul over Its own lines and by reason of Its participation in the revenues derived from the handling of the traffic by the
C Report for Fiical Year Ending Dec. SI, 1904.
Wheeling & Lake Erie and Wabash systems under the pledge of revenues of those Systems made by said contract of May 7, 1904.
President Allan L. McDarmott says in part
balance SHBBT of NOV. 30, 1904.
Daring the past year onr properties have oontlnaed to show a gratlAseett—
Liabilitits—
9
$
Increase in earning capacity. The gains in earnings from year
Cost of road.fran'B, etc.40,182,220 Capital stock
10,000,000 fylnft
Oonstruo'n expund's... 4,'>46,622 First mortgage bonds. 20.0 !)0,000 to year have been sabtantlal and well maintained:
Surplus over
Gross
W. & Luke E RR st'k. 6,000,000 Temporary Ist M. bds.. 5,000,000
earnings,
Oain ovtr preceding year, fixed charges.
Tear—
Pitts Term. RR. & Coal
Second M. bonds
20,000,000
$ll8,a85
7-b0%
$2,162,059
$158,416
Co. stock
3,169,740 Int. accrued, not due..
600,000 1901
201,129
2,326,775
163.215
7 64%
Wab. Pitts. Term. Ry.
Vouchers and pay rolls
515,621 1902
5-870^
221,879
2,462,294
136,519
Ist M. bonds in treas.
500,000 Due railroads
60,303 l«03
7-40%
386,523
2,644,360
182.085
1904
Int. on let M. bonds...
405,722 Assistant
Treasurer,
Supplies
823
overdraft
96,618
The expenses of operation during 1903 and a portion of 1902 were
Cash
873,386 Balance, credit of Inlargely increased by the excessive price of coal caused by the strikes
Accounts collectible...
167,017
come account
62,887 at the mines.
Bills receivable
873.450
The flnanctal condition of the company is excellent. After payment
Due from station agts.
4,756
on Deo. 1, 1904. of a dividend (JTo. 1) of 2^ p. c. on $8.500.0u0 preRemittances In transit.
1,688
ferred stock, amountlnKlto *212.5(K), there remained on Deo. 31, 1904,
a profit and loss surplus of $720,902 In actual cash or its equivalent.
Total
56,215,424
Total
56,215.424 Rather than allow the surplus earnings to remain on deposit In bank.
—V. 80, p. 873. 164
It was deemed wIbh that $500,000 par value of the oonsolldated mortgage bonds be purchased for investment.
Paymeufs for new construction since Feb 1902, consisting mainly
Lake Erie & Western Railroad.
of the construction of an (-xtension of the Oonni-ctiout Avenue Line
(Report for Fiscal Year Ending Deo. SI, 1904.
from 18th 8t. and Columbia Road to 16lh and Park streets, and the
purchase of thirty new cars, have been made from net earnings. The
President W. H. Newman says in Bubstance:
bonds to cover cost of ihls oonstructlou were delivered by the trustee
Gkheeal Results.— In comparison with the results of the previous and are now held iu your treasury.
year the gross earnings decreased $220,718. The ordinary operating
There are in the treasury $1,078,600 of our 4 p. c. bonds, viz.:
expeMses decreased $77,321. The freight traffic shows a decrease of $^51,600 nellvered under the plan of reorganization and credited to
4-37 p. c. In tonnage, the revenue per ton mile a decrease from -724 depreciation reserve, $227,000 issued to cover expense of extensions
to '688, or -038 of a cent, and the gross revenue from this source an
and betterments, paid for out of surplus earnings, and $500,000 puri
—
:
I
.
—
.
.
Apr.
THE CHRONICLE.
1905.]
1,
otaaeAd In the open market. None of the oontrolled oonapanles has
any lljatlnK debt except snob as Is owned by tan WaslilDgtou Railway
& Electric Co. Dnrlrg the past year the flnatlnz debt of the Potomac
Electric Power Co. was extlDgnlshed. $l,500,OoO first mortKage 5 p. o.
bonds having been Issued for the purpose of retiring such floating
debt and providing funds for extenflone, additions and Improvemenis.
During the month of Jsnuary, 1906, gross earnings from opt-ratlon
were $233,373, a gain of $23,252 over prtjoediiig year (ll-07p c ), and
surplus after fixed charges was $2t,0iL7, a gain of $12,627 over preceding year.
Id come
The
aross earnings
Operating expenses
1904.
1903.
1902.
1901.
$2,644,360 $2,462,295 $2,325,775 $2,162,560
1,328,052 1.251,814 1,187,449
... 1,355,82s}
.
Net earnings
$975,110
$1,288,538 $1,134,243 $1,073,961
Mlecellaneous income...
32,906
49,024
19,644
Total
16,016
$991,126
$1,337,862 $1,167,149 $1,093,605
Deduct—
Taxes
Interest
Total
Surplus
Per ct. of op. ex. to earn.
Dividend No. 1 on pref.
$148,377
832,632
$146,033
799,237
$124,031
768,446
$104,145
768,446
$981,039
$356,523
51-29
$945,270
$221,879
$892,477
$201,129
$872,591
$118,535
53*95
5490
5384
212,600
0.)
Surplus over dividend...
$144,023
BALANCE SHEET DEC.
Cost of property
$27,385,817
Company's stock and
consol.4s
1,082,421
Invests, in real estate
A sundry securities.
26,382
55,283
Material and supplies
AoctB. recelv'le, eub'y
Cos. (since paid)
Accts. reo'le, mlsoel
50,346
46,548
6,503
204,431
.
Prepaid insurance
Cash
Total
$28,857,231
Oonaol. bonds, par $1,078.600
stock, $23,400.— V. 80, p. 1176.
*
Twin
1903.
1902.
1901.
$731,041
210.000
(5) 825.650
$711,718
210,000
(5) 769,263
$666,688
210,000
(4) 600,400
$1,911,745
$203,030
65-02
P.cexp.&taxtoeam.
$1,766,591
$419,298
50-3S
$1,690,981
$291,060
49*30
$1,477,038
$281,486
48-85
Total
Surplus......
twin city bapid tbanbit CO.— qenbbal balance sheet.
;
31, 1904.
Liabihlies—
Preferred stock
$8,500,000
Common stock
6,500,000
12,484,0S0
Funded debt
Depreciation reserve.
423,652
Accounts payable.
49,780
Accrued loterest
84,143
Accrued taxes
37,735
Reserve for damages
and renewals
Profit & loss— surplus.
66,970
720,903
$28,867,231
common
preferred stock, $64,350;
Year Ending Dec.
31, t904
Roadway,
etc.,
$
including
seonrliles In treasury.. 34, 400,58 7 31,820,072 82,989,594 31,606,910
Notes & accts. receivable
29,787
19,201
32,349
99,670
Cash
393,265 1,310,250
347,468
125,973
31,396
50,000
Materials and supplies..
Insurance fund
Renewal funds
616,072
171,776
373,738
84,512
36,262,452 33,276,496 83,839,791 32,164,830
Total
LiabilitiesCommon stock
Preferred stooK
Funded debt.
16,511,000 16,511,000 16,511,000 15,010.000
3,000,000 3,000,000 3,000,000 3.000,000
14,386,000 12,637,000 10,868,000 10,888.0nO
Unpaid vouchers, etc
82,267
115,493
65,762
33,079
321,205
Taxes accrued, not due..
2,888
2'29,'8Vi
Interest accrued, not due
252,033
2071296
207,029
Bills pay able
559,284
206*388
Dlvi lend payable
206,388
206,388
3d6i200
Renewal funds
206,269
Miscellaneous
84,259
"le.'sbo
23,350
Income account— surplas 203,030
2,991,346 2,700,284
:
Total
35,252,451 33,275,496 33.839,791 32,164,830
— V. 80, p. 1176. 652.
San Francisco Gag & Electric Co.
Report
for Fiscal Year Ending Dee. SI, 1904.J
f
President W. B. Bourn says in substance:
The operations during the past year broaght the benefits that were
expected from the purchase of tho interests acquired last year. The
status of the property and the outlook for the future are most satis-
We regret that the company Is not in a position to distribute
reports
dividends more commensurate with the nature of
their investment, and no increase In the dividend rate may be ex«
neoted until the future is protected with a proper surplus fund.
know, however, of no condition likely to arise that will afleot the
return now made to shareholders.
take plaasure in announcing
the return (Deo. 1, 1904) of Allan PoUok as General Manager.
to Its Bbarehol<lers
We
The profits, output and balance
sheets were as follows:
PBOFITB FOB TEAB BNDINO DBC. 81.
1904.
1903.
$2,650,852
$1,493,746
J
President Thomas Lowry fays in substance:
Paul Decision and Compromise.- The stockholders are to be
oongrainlated on the result of the pa«t year's operation, although we
have not been able to make all the extensions and improvements outlined in our last report owing to the litigation in 8r. Paul. [Here follows a brief statement of the situation in St. Paul. See V. 80, p.
1175.] After two decisions by the United States Circuit Court in favor
of the company, a comDromlse was eflfeoted with the cltyi by
which the city agrees to allow Judge Lnohren's decision to become
final, on condition that the company make certain Improvements and
extensions. We deem this decision and settlement of immeasurable
advantage to the oompaDy. Under it all rights of the So. Paul City
Railway Co. under Its ordinances and contracts with the city are de-
now make the improvements referred
to
Impbovementb, Etc.— Our new steam plants and sub stations were
BOS finished nniil Deoember, b» that we received no benefit from
them for the year 1904. Inconsequence of the issue of bonds to defray the expenses of Improvements, Including the new power plant,
our interest was iBoreased $136,618. Instead of being added to the
cost of the plant, this additional Interest was charged against income,
thereby reducing the surplas by^a corresponding amoant.
The company has expended during the year $2,250,225 for oonstraetlon, distributed as follows:
Track & paving, Mlnne $302,782 New powerplants
$1,196,484
Track & paving, 8i. Paul. 166,295 Car equipment
427,400
Track & rlghr^-of-way to
New fehops
i9,343
White Bear Village. .
97,464 Wlldwood Improvem'ta.
10,467
Pbo VISION FOB Depbeoiation, Etc.~To provide for depreciation
not covered by ordinary current repairs, we Included in the operating
expeneesof the year sums aggregating $206,269. which we credited
to lenewal funds. Thei-e funds will be Increased yearly and maintalred IncaBhor Invested In special securities, po that they will be
available for nee when the requirements for renewals are exceptionally
h'gh. During the year we aleo charged $4,000 each month to an insurance fund and used $16,605 for Insurance and expenses in connection
with fire protection. A cash fund of *3 1,395 has thus been accumulated as ih« nucleus of an insurance fund.
Taxes, Etc ADJD8TKD— As taxes are payable in the year follow
ing that against which they are levied, the company has actually
been one year behind In providing for this liability. In order to cor
reot this error, we appropriated from the surplus of Dec. 31, 1903,
such a sum as would oovnr this liability. At the same time we also
made provision for unaojusted and unpresemed claims for injuries
and damages.
EABNI^G8.— The gross earnings for the year show an increase of 6-Cl
. .
.
over the previous year; the net earnings show a decrease of 1-88
to the charges to operating exnenae on account of renewal
funds. But for this, the netwould have thown an Increase of 3"23 p.c
We have reason to believe the year 1905 will be the most prosperous
in the history of the company.
Statiatica
The earnings, expenses, charges and balance
sheet are shown in the f ollowiDg tables
1904.
1908.
1902.
1901.
Passenger earnings.. $4,269,408 $4,042,230 $3,59 1, 649 $3,l5o,49«
Other sources.
38,672
21,709
23,478
20,662
p. c.
p.
OaslDOOme
Electric Income
Totallncome
Deduct
Gas operating expenses
Bond
interest
Electric operating expenses
Bond interest
Net
profit
Depreciation,
Gas plant
Electric plant
etc.,
—
Total reoeiptB.... $4,308,080
$4,063,939
$3,612,211
$3,173,976
General expenses
$184,189
Malnt. of equipment.
291,705
Malntof way &struc.
196,520
Oper. power plants..
887,571
Insurance
48,000
Injuries and damages
165,001
Legal expenaes
23,000
Oar service
867,319
$166,675
211,298
117,536
331,281
41,104
162,695
22,999
826,462
$158,707
$149,798
179,768
85.990
217,947
18,116
97,140
23,00>
646,693
196,521
83,135
269,225
20,366
138.445
28,000
745,771
$1,878,050 $1,680,170
$2,185,889 $1,982,041
$1,415,452
$1,758,624
1,842,425
1,011,026
$4,393,277
$2,604,771
$1,822,203
227,399
860,778
217,464
$902,504
43,838
537,314
51,068
$1,765,438
$969,957
$400,000
800,000
$200,000
196,000
funds—
Balance, surplus
DlTldends
$1,065,488
$574,967
(5%)792,421 (2i«%)396,2H
Balance
$273,017
BALANCE 8HBET OF DEC.
1S04.
Assets—
Real estate and
plant
lamps
Patents
conduits,
&
&
metres. 10,803,133 10,097,007
licenses
Oil, coal, etc
Cash
Sundry assets
Supplies
& tools..
Due irom
cons'rs.
Investm'ts (stocks
and bonds)
1904.
Liabilities—
Capital stock
15,190.623 16,607,938
Pipes,
00
120,699
21,482
150,000
293.670
1»,87«
15(',<
1908.
S
$
*15,794,284 15,704,280
Bonclg-30,Trs.,4^
8,021,C00
per cents
Pac.uitg Imp.Co. 1,189,000
Kdison L.&P.CO.
623,000
Bold
Interest. ...
Uncollected divs..
1(^8,615
119,6'(2
Wages
240,017
303,445
349,084
276,680
BUis payable
Outstanding and
suspended acots.
980,000
1,054,735
De p'n &
Ins. f unds
Surplus
Total
....88.118.680 27.797,0B7
Authorized
Total
$20,000,000; issued
2,973)^ Shares $54,140; balance 15.794 2a4.
8,000,000
l.WO.OOO
64.208
14,M03
67.707
830,000
623,000
71,367
6,460
61,000
985,000
317,838
0»7,9IO
21^,835
355,958
664,618
45,911
28,118,680 27,707,097
(full paid) 116,818 433; less
See San Francisoo Gas
$178,746
SI.
1903.
$
stock discount on
& Coke Co. on page 1238.— V.
79, p.
156.
Electric Storage Battery Go.
Statement
for Fiscal Year Ended Dec. SI, 1904, J
C
President Herbert Lloyd signs the printed sheets upon
which the following is furnished
cowing
Total operating.. $2, 163,305
Net earnings
$2,144,775
1901.
$
We
St.
termined. The company will
in onr last anonal report.
1902.
$
Great progress has been made In betterments, extensions
and replacements, as laid down In tbt^ general plan outlined In former
(OFEBATINQ IS MINNEAPOLIS,
{'Report for Fihcal
1903.
$
factory.
Total
Transit Co. (State of New Jersey),
ST. PAUL AND 8TILLWATEB. MINN.)
City Rapid
1904.
Resources—
INCOME ACCOUNT,
stock (31a p.
leoi.
Deduct—
Interest and taxes... $906,196
Dividends on pref. (7%) 2H),000
Dividends on com... (5) 825,550
aoconot for four years past and balance sheet
are as follows
1233
Total net income
Less 5 p. 0. dlvldendB on
com. and pref
Surplus
Previous surplus
INCOME, BTC.
1902.
1904.
1902.
$1,082,909 $1,501,592 $1,113,200
812,486
812,435
$270,474
$689,157
2,928,390
2,283,477
812,418
1901,
$900,243
812,427
$300,772
$87,830
2,022,582 2,120,439
Undivided surplus ..$3,198,864 $2,972,634 $2,323,355 $2,208,269
FINANCIAL STATEMENT,
1904.
1903.
Current asieta—
1902.
1901.
$410,814 $:<57,495 $521,504 $106,234
Cash
1,078,444 1,600,820 1,004,668 1,652,063
Aeoounts receivable
Notes receivable
116,176
240,529
47,066
88,687
Inventory accounts— raw
mater's, stock In proo.
and finished product...
Total
932,521
707,829
574,329
467,043
$2,636,956 $2,806,673 $2,147,467 $2,314,027
Ourrent liabilities—
Accts. payable, not due..
79,672
107,011
63,295
46,982
AsaetB over liahlUties.f 2,457,283 $2,639,662 $2,084,178 $2,267,046
THE CHRONICLE.
1234
CONDENSED BALANCE BHEBT DEC.
1P03.
S
288,483
IflOl.
AssetsPlant investment.
Treasury stock. ..
Stbs. & Cds owned
«
751.708
1, 750,675
2, «67,489
1.751 ',575
2,839,882
Patents, agi-eem's
and franchises.. 13, ^88.Rfl7 13,561,887
5«,000
71,000
Morteages
S5T,49i
410,814
C«8h
Accts. receivable..
Notes receivable..
Inven'y accts ,raw
mater., etk., Ac.
Total
1,
07H,<114
116,176
l,600,SiO
240,639
932,521
707,829
1901.
LiahiUtifs$
886,203
Preferred stock...
17.614,800
Common St oci
79,673
Accounts payable.
Unpaid scrip
Sundry liabilities..
Surplus
1903.
«
463,700
17,ft4 6,300
107,011
6,145
3,198,864
1,788
4,624
2,972,633
266,912
230,523
Heoerved for debad
preciation,
debts and unflaished contracts..
.21,551,692 21,316,42!)
,
31.
...21,551,593 21,316,429
Total.
-V.SO.p. IIU.
[Vol. lxxx.
Citizens' Light & Transit Co., Pine Bluff, Ark.— New
Control.— New Officers, The control having changed handa,
the following new officers are announced:
—
J.
B. York, President; J. F. Rutherford, Vice-President; Robert
T. Yonng, Secretary; C. J.
York 2d Vice-President and Gen. Mgr.; W.
Samstag, Treasurer.
The company will remain as it is, and there will loe no
change in the bonds as already issued. Capitalization at last
accounts: Stock authorized, |20O,OO0; issued, $20,000; bonds
authorized $150,000. Miles of track, 8.
ColnmbiiB Newark & Zanesyille Electric Ej.— Bonds Offered.— Baker, Ay ling & Co., Boston, have purchased and
are offering for sale at 98 and interest |400,000 first mortgage
5 p. c. bonds of 1904 due March 1, 1924, but redeemable before maturity as an entire issue at 110 and interest. The remainder ($850,000) of the outstanding issue of $1,250,000 has
BAILROADS. INCLUDING STREET ROADS.
been purchased, after personal examination, by the ElectriAtlantic Shore Line (Electric) Ry., Sanford, Me.— Divi- cal Securities Corporation of New York, Union Electrical SeSecurities Co. of Boston.
dend. The company on March 1 paid a dividend of 2^ p. c. curities Co. and the Railways
on the preferred stock, covering the period from Oct. 1, 1904, The mortgage is limited to $2,000,000, of which |75O,O00 is recircular says in part:
to March 1, 1905. The company began business April 1 of served for extensions, etc.
(I)
the
local
street railway system in Newark,
The
company
owns
8
for
the
first
on
paid
dividend
cf
c.
year,
and
Oct.
1
a
last
p.
O.; (2) a suburban railway to Granville, O., and (3) an Interurban
six months. Toe dividend payment in March adj asts the railway connecting Newark with Zuiesvllle, O.. and intermediate
dates, fo that payments will be made in the future on March towns; the total being 41*58 mUes. The Newark division has been reNo dividends have yet been paid on the com- cently reconstructed with 90-lb. girder rails. The Suburban division
1 and Sept. 1.
to GranvUle has been reconstructed with 60-lb. T rails, and Is built
mon stock.— V. 78, p. 2383.
on private right of way except within city limits of Newark and the
Aurora Elgin & Cbioago (Electric) B,y.— Through Car town of Granville. The Interurban division to Zanesville is built enService Into Chicago,— On March 12, under its agreement, tirely (except for a few hundred feet near Newark) on fenced private
right of way with 70-lb. T rails, block signal system and is or tlie best
with the Metropolitan West Side El, Rv. Co,, this company's steam railroad construction but operated by electricity. Passenger
trains began running direct to the Fifth Ave. terminal in stations are located at various plaoes between Newark and Zanesvllle.
The Interurban division did not commence operations until
Chicago, some 10,0.0 persons being carried the first day. V.
May, 1904, and then only in an Irregular way, as ballasting was
79, p. 680.
being completed during the summer
however, the company earned
Canadian Northern Uj.— Offering of 3 p c. Bonds— Earn- for the year 1904 a substantial surplus over its bond interest, viz.:
Gross, $150,619
net, $57,895 add special insurance fund, 4 p. c. of
ings for Half-Year Ending Dec. SI, 1904.— The Canadian gross
earnings, $6,025; total net, $63,920; bond Interest. $51,000; surBank of Commerce, on behalf of themselves and other own- plus, $12,920. The earnings for 1906 are estimated by Messrs. Tucker,
ers, recently offered in London at 95 the entire issue of Anthony & Co. of Boston, who control and operate this property, at
£1,923,267 3 p. c. first mortgage debenture stock, running gross, $200,000. total net, $98,000 bond Interest, $62,500 balance,
GENERAL INVESTMENT NEWS.
&
—
A
—
;
;
;
;
for fifty years from July 10, 1903, with interest payable
Sept. SO and March 31 in London guaranteed, both as to
principal and interest, by the Government of the Dominion
of Canada under the provisions of an Act of the Canadian
Parliament assented to, in His Majesty's name, by the
Governor- General on July 10, 1903. Subscriptions are payable as follows: On application. £5 on allotment, £l5;
;
;
April 28, £25 May 26, £35 Jone 26, £25 total, £95 p. c.
Third Vice-President D, B. Hanna, writing under date of
March 15, 1906, says in substance :
The record ol the railway is one of unlnt^rrriptecl progress. From
the day the first seotlon of 100 miles was opened for pabllo baslness,
In January, 1897, to this date, the gross earnings have In every year
been more thansnfiioient to pay all operatlag expenses and meet the
fixed charges of the undertaking. [Here follow flgares taken from
the annual report. See p. 1231 of to-day's Chronicle]. For the six
months ending Deo. 31, 1904, the gross earnings amonnted to $2,225,600 and the net earnings to $814,300, being an Increase of $21ti.700
In the net earnings as compared with corresponding period of 1903.
The present Isene of 3 p. c. debenture stock, guaranteed by the
Dominion of Canada, Is a first mortgage charge— (1) on the main line,
from Qrandvlew, Manitoba, to Edmonton, by way of Battleford. thus
passing through the great wheat belt of North-Eastern Asslnlbola,
gaskatchewai), and the northern part of Alberta (a distanoe of 620
miles and (2) on the line from Prince Albert to a point 100 miles east
thereof, being the completion of the branch line from DauphlB, in
Manitoba, to Prince Albert, via Bwan River and Carrot River Valleys.
It iB also a charge next after existing charges on other liaea in operation. The work of construction is progressing rapidly, and there Is
;
;
;
;
surplus, $35,500.
Tacker, Anthony & Co. also control and operate the Columbus Buckeye Lake & Newark Traction Co., a railway between the cities of Columbus and Newark, Ohio, thus making a through high-speed railway
between the cities ot Columbus, Newark, Zanesvllle and intervening
towns, serving a total population of approximately 225,000. Through
oars of each road operate between Columbus and ZEknesvllIe. We are
informed that it is the intention to consolidate under one company
the Columbus Newark A Zanesvllle By. ahd the Colnmbas Bnokeye
Lake & Newark Ry. within the next year,— V. 78, p. 2334.
Consolidated Railway, Connectieat, Acquisition- Guaranty.—See Springfield Street Ry. below.— V. 80, p. 1111, 473.
Delaware Lackawanna & Western RR.— Dividend InThe directors on Thursday declared a quarterly
creased.
dividend of 2}4 P- Cm payable on April 35, to holders of record
on April 3. From 1886 to January, 1905, the rate was 7 p. c,
per annum, but in December last an extra dividend of 10 p.o.
was paid. See report for 1904 in V. 80, p. 888, 998.
—
Detroit Mackinac & Marqaette RR. Land Grant.— InterPayment. A semi-annual interest payment of S^^ p< c,
will be paid on the land- grant bonds April 5, 1905, at the
Central Trust Co., being the same amount as paid regularly
in and since October, 1902.—-V. 79, p. 1641.
est
—
;
every prospect that the lines will be ready for operation, both to
Edmonton and Prince Albert, In time for the crop cf 1905.
The Saskatchewan Valley and Carrot River districts have long been
known as rich in agricultural lands and timber, settlers have been
located there for a long period, and In recent years the movement of
immigration to those dlstrlots tributary to the company's lines has
been so large that as soon as sections of the line are made ready for
operation a profitable traffic is assured. When the lines indicated
above, as well as certain branebes in Manitoba, are completed, the
total mileage of the company will be, approximately, 2,788 miles.
New Construction. The construction work which the
company contemplates this year is described as follows :
Completion of the main line to Edmonton, N. W. T.; extension of
the Prince Albert line from Melfori to Prince Albert completion of
the RoBsbnrn line to Rossburn; completion of the Carberry- Brandon
section; completion ot the Bprlngtield branch, a distance of 20 miles
from Winnipeg completion ot the Thunder Hill branch from Swan
River to a point Just beyond the western boundary of the Province
near Thunder HUl.
—
;
;
R'port.—8ee page 1231 of to-day's Chronicle and compare
V. 8U, p. 1174, 996.
Chartlerg Ry. Increased Dividend,— The aemi-ancuil
dividend payable April 1 has been increased to 5 per cent
from 4 per cent, the previous semi-annual rate. The road Is
leased to the Pittsburgh Cincinnati Chicago & St. L^ui^ Ry.
for net earnings, the Pennsylvania Company owning a majority of the stock, —V. 78, p. 615.
Chicago & Western Indiana RR.— Tracfc Elevation in Chicago.—fhe 'Railway Age" of March 24 contains a long il*
lustrated article regardtng the removal of grade cro?ftings
which began on this company's line in Chicago in 1899 and
which has since been prosecuted on a large scale.— V. 80, p.
986, 871.
Clnelnnati & Colambng Traction Co.— Mortgage.—
mortgage has been made to the Union Savings Bank & Trust
Co. of Cincinnati as trustee to secure |600,0C0 of 5 p. c. notes
of various denominations; dated January 1, 180^, and due
July 1, 1909, Interest payable July 1 and Jan. 1 at office of
trustee. The entire Issne is now outstanding. The proceeds
will be used for the completion of road, extensions, eto. See
V. 76, p. 971.
FarmTille & Powhatan RTi.—Sale May S.—The receiver's
Of the pursale is advertised for May 3 at Richmond, Va.
chase price, $75,000 is to be paid in cash, $25,000 thereof
wi'hin three days of the sale, and the residue, $50,000, when
the sale is confimed ; the remainder to be on credits of 6 and
12 months.— V. 80, p. 871.
Grand Trunk Pacific Ry.—Bonds.— N. M. Rothschild &
Sons on March 27 offered in London, England, at 95;^ £3.210,000 3 p. c. first mortgage bonds, guaranteed by the Dominion
Government; interest payable 03t. 1 and April 1. See description of these bonds, etc, in V. 80, p. 996,— V. 80, p. 1174.
Houston & Texas Central RR.— Ca/;«d .Bonds.— First
mortgage bonds aggregating $250,000 have been drawn by
lot and will be redeemed at 110 and Interest on presentation
at the company's office in the Equitable Building, this oity,
interest ceasing May 31, 1905. See advertisement on another
page of to day's Chronicle.-V. 79, p. 1704.
Interborough Rapid Transit Co., New York.— l^tre Delays Opening of West Side Extension.— The West Side station at I68th St., which was approaching completion, was
badly In jared by fire on Wednesday. As a result the opening of tbe West bide line north of 157th St., the present terminus, Is likely to be delayed some weeks, if not months.
Possible Bxtensions.—See "Rapid Transit in Nesv York
City" below,— V. 80, p. 1111, 1068.
Kansas City Southern Rj.— Steps to Secure New Management.— la view of the termination of the voting trust, a
committtpe consisting of Hermann Sielcken. Chairman,
Daniel Gt. Bnssevatn and Alexander D. lilelnwort of
Kleinwort Sons & Co., London, has been formed to arrange for the organizition of a new and independent management through the election of a board of directors at the
forthcoming annual meeting to be held on May 17. To that
end the holders of voting trust certificates are Invited to
forward their certifinates, endorsed in blank, not later than
April 7, to the ohalrm-in of the committee at No. 77 Broad
Street, New York, to be exchanged for the stock to which
they will become entitled. The committee will arrange that
the stock certificates shall be registered la the owner's name
before the close of the books for the annual meeting, an d
will deliver same, accompanied by a form of proxy for execu •
Apr.
1,
THE CHRONICLE.
1905.]
owner desires to "co-operate with the committee in having the change brought about with the least
possible friction or disturbance to the property. The committee states that it owns and represents upwards of a majority of the stock.—V. 80, p. 1174, 997.
Leris Coanty (Electric) By., CansiHa.—Default—Bondholders^ Meeting. —Default having occurred in the payment
of the interest on the bonds issued under mortgage dated
Ang. 4, 1902, to the New York Security & Trust Co., trustee,
a meeting of the bondholders will be held on April 8 at the
office of the Royal Trust Co., Montreal, Canada, to determine upon the course to be pursued. The bondholders are
notified to deposit their bonds with the New York Trust Co.
(formerly New Ycrk Security & Trust Co.), trustee. No. 26
Broad St., New York, or with the Royal Trust Co., Montreal.
The road extends along the St. Lawrence River for 10^ miles, passtion in case the
ing tbroagh Levis, opposite the City of Qaebeo. On Deo. 31, 1903,
there were oatstanding stock to the amount of $103,700 and ^250,000
first mortgage bonds of 1932, interest payable May l and Nov. 1
$174,000 thereof being in the hands of the pablio. President and
General Manager, George U. Q. Holman. Qaebeo.— V. 77, p. 2038.
LoaisvIUe
&
Nashville
RR.— Mortgage Approved.— Pur-
chase Ik ferred.—The shareholders at a special meeting on
March 28 authorized the proposed mortgage f or |50,000,000
on the Atlanta Kooxville & Cincinnati division. Action on
the purchase of the properties and franchises of the South &
North Alabama RR. Co, was postponed until the annual
meeting of the stockholders in October. Compare V. 80, p.
872, 1174.
Market Street Elevated Passenger Ey., Philadelphia.—
Bonds Offered.— Drexel & Co., Philadelphia, are offering as
101 |10,000,OCO first mortgage 50-year 4 p. c. gold bonds, doe
May 1, 1955, interest payable May and November; principal
and interest guaranteed by the Philadelphia Rapid Transit
Co. (see V. 80, p. 652, 323). The Land Title & Trust Co. cf
Philadelphia, Tmatee.—V. 76, p. 1301.
Maryland & Pennsylvania RR.— Bonds Ojfered.- Alexander Brown & Sons, Baltimore, are oflEeriDg at Q3}4 and interest a block of the 1st mortgage gold 4s, authorized issue
$1,200,000, outstanding $897,000, a first
1235
Abita Springs and Covington to Folsom, with a branch to
MandevlUe on Lake Pontohartrain, in all about 43 miles of road.
The company operates trains directly into New Orleans, using the
tracks and terminals of the New Orleans «fe North Eastern RR. It is
tlon, via
our purpose to parohaee or lease terminal property In New Orleans;
also partially to re-locate the line acquired, re-lay it with 80-lb. steel
and extend It northerly to Jackson, Miss., where connection willbe
made with the Illinois Central, Yazoo <!b Mississippi Valley and Alabama & Vioksbnrg. The new Hue will be oonstraoted with low
grades, easy curvature, steel bridges and 80-lb. steel ralla.
At a later date It Is planned to extend the line westerly to Natchez
where connection will be made with the Gould System of roads, and
the Louisiana & Arkansas By. Oar present plans, however, will be
restricted to the extension to Jackson. When this has been completed the company will be operating a road 203 miles in length, extending from Jackson, the capital ot Mississippi, to New Orleans, the
second largeet export city in America.
LUMBBB CONTRAcr.— Simultaneoasly with the oonstruotion of the
railroad, the Great Southern Lumber Co. is to construct lumber mills
and develop a large new town, all tributary to this road. The Great
Southern Lumber Co. owns upwards of 325.000 acres of long leaf
yellow-pise timber lands, extending from Lake Pontohartraln in a
northerly direction for 100 miles; it has a capital of $5,000,000, paid
up In cash; and no Indebtedness. Its stockholders Include with others:
Daniel S. Lament, Vice-President of Northern Pacific Ry. Co.
James HortoD, former President ot United States Leatlier Co.
Hon. Marlln B. Olmsted, member of Oongreis and Counsellor at Law of
Harrlsburg, Pa.
W. Goodyear of Buffalo, N. Y., President and Vice& Susquehanna By. Co.
The Lumber Company Is ander contract to ship all of its forest pro-
Frank H. and Charles
President of tbe Buffalo
ducts from the above-mentioned lands over the road, and to build and
equip mills having a minimum capacity of 75,000,000 feet per annum,
running eleven hours a day. £t is expected that these mills, following
the usual custom, will be operated night and day, so that the total output ot the mills will be 150,000,000 feet of lumber per annum, or
300,000 tons, all of which will be delivered to the railroad for shipment. It is expected that lumber mills will be developed at other
points by other interests. The total amount of timber tributary to the
lines of this company is estimated at six bllUon feet, suifioieat to yield
a lucrative tonnage for the next thirty to forty years.
Other Traffic—The country served is well adapted to raising
cotton, corn, sugar-cane, and all the fruits and vegetables common
to this section of the country. The country directly north of Lake
Pontohartraln has long been known as the Ozone Belt and Is largely
patronized by people from New Orleans, who have their summer
homes located there. Last year two trains of modern vestlbuled cars
materially increased the company's earnings. The new management
intends energetically to develop this territory, and, by giving frequent
train service, Indaoe settlement by those who will make it their
home the year roond.
Bonds.—The first issue of the new bonds will be for $5,000,000, involving a fixed charge of $250,000. The earnings from the 200 miles
of railroad, including trackage to be aoqtilred or constructed with the
proceeds of this $5,000,000 of bonds, it is estimated will be at least
$1,100,000 gross; operating expenses, say, 65 p. c; net earnings not
1083 than $385,000, as against fixed charges Of $250,000. The por>
tion of the road located in Loaisiana will be tax exempt until the
lien on 80 miles of
road, subject to $202,450 underlying bonds.— V. 80, p.711, 651.
Massachusetts Electric Companies.— iSaZe cf Bonds.—
Hayden, Stone & Co., Boston, have purchased of the Old
Colony Street Railway $777,0C0 of their 4s and of the Boston
Northern $223,000, This makes outstanding, inclading end of 1914.
the foregoing amounts, $1,777,000 Old Colony bonds and
It is expected that the railroad will be completed to Jack$283,000 Boston
Northern. See Old Colony Street Ry. Co.
son
and in full operation not later than the autumn of next
below,— V. 80, p. 997, 472.
year.
contract has been let for the construction of 65
Mississippi Lonlsiana & Texas RE.—New Project.- miles of new railroad from Slidell, La., to China Qrove.
f3, 000,000 Notes Offered—This company, incorporated in See V. 80, p. 998.
April, 1904, with $31,500,000 authorized capital stock, to
New York Central ft Hudson River RR.— Contract for
build a line from the Qalf of Mexico, at or near Pensacola,
Fla., via Mobile, Ala.; Natchez, Miss,; Freeport, La.; So. Electric Potcer,— See Hudson River Power Co. under IndusMcAlester, I. T., and Oklahoma City to Guthrie, O. T., is trials below.
Control of Trolley Roada.—See editorial on page 1304.
offering at par the unsold portion of $3,000,000 1st mortgage
Report.—See page 1240.—V. 80, p. 1175, 1113.
5 p. c. gold coupon notes.
These notes are dated Mar. 15, 1905, and are da« Mar. 16, 1910, bat
New York- Philadelphia Co.— Bowds.—The $1,000,000 first
are snbjeot to call at 102 on any interest day Sept. 15 and Mar. 15; collateral trnst 5
p. c. gold bonds are described as follows:
denominations, $500. fl, 000, $5,000,910,000 and $25,000. The proInterest
Mar.
1
and
Sept. 1. Prtnoipal due 1935 but redeemable at
ceeds, It is stated, willbe used for the completing of the Gulf dlrislon
of the road and for providing terminal facilities on the Qalf of any time at 106; secured by deposit In trust of a majority of the stock
Mexico. The notes provide that no inoambranoe shall be placed of the Camden & Trenton (Electric) Ry. Co. and the entire oatstanding
apon the property in the States of Alabama and Florida until the notes stock of the Trenton A New Brtmswlok (Electric) RR. Co. and New
shall have been paid In fall. The road is projected to connect with Jersey Short Line (Electric) RR. Co. Denominations $500 and $1,000.
the Denver Knla & Gulf RR. at Gathrle, thus forming a through oon- Interest payable In New York and Philadelphia, tax free. -Bee
neollon from Peneaoola to Denver. Arthur B. Richie is President and offloers, etc., V. 80, p. 1175. 712.
Fred. W. MoKenzle is Secretary, Shreveport. La. Ohlcago ofHoa,
Norfolk & Western Rj.—Improvementa—New Car Trust.—
Chamber of Commerce Bonding.
have confirmed the report that the directors at a recent
Missonri Pacific Ry.—4cgitts«io»i.— See St. Louis Watkins meeting appropriated |700,000 for improvements upon the
Galf Ry. below.— V, 80, p. 1116, 1108.
company's road and authorized the creation of a car trust for
Maskegon (Mich.) Traction & Lighting Co.— Earninga.— 12,000,000 to be known as series "C." The new car trust cerFor years ending Feb. 28, 1904 and 1905, earnings were
tificates, it Is stated, will probably not be issued for several
months.—V. 80, p. 1175, 1059.
--Qross earnings^
Net earnings.
1903-04.
190*05.
1903-04.
190405.
^
„,
,
„
Old Colony Street Ky.— Bonds O^ered.— Hayden, Stone
Street
railway
department. $82,08 5
$84,681
$26,428
$25,293
Electric light
35,464
87,371
17,002 Co., Boston, are offering at 96 and interest the unsold portion
16,084
Gas department
45,764
48,260
1?,906
19,207 of their block of $777,000 first refunding mortgage i% gold
Lake Michigan Park
7,774
7,958 loss 2,190 loss2,766 bonds, dated Jan. 1, 1904, due Jan. 1, 1954; authorized issue
present issue, |l,777,CO0;
All departments
$171,087 $178,270
$55,093
$59,871 $10,000,000; outstanding, including
Other Income (nee discounts, rents, etc.)
846 14,667,000 are reserved to retire an equal amount of prior di345
visional bonds, of which $3,516,000 mature by 1916 and all
Total net Ineome
$80,717 mature before 1925. The Massachusetts Electric Companies
$55,488
Interest on bonds ($600,000 first mortgage 6s)
$30,000 owns control (see pages 745-747 of Street Railway SecDividend on preferred stock (6 per cent)
3,825
Interest on bills payable
1,242 tion.— V. 79, p. 734.
Pan&maRR.— Purchase of Minority Shares.— press dis_8arplus for year 190405 over charges and pref. dlT'd.
$25,650
patch from Washington, D. C, on Wednesday said :
— V. 76, p. 543.
In a letter to Secretary Taft to-day, William Nelson Cromwell, genNew Orleans Great Nortfter* RR.—Sale of Bonds— Ex- eral
counsel of the company, reported that he had purchased all but
tensionft, Etc.— The company has authorized an issue of
five of the 275 shares of stock the Government does not own, and that
$10,000,100 first mortgage 5 p. c. 50-year gold bonds. These he has a contract for the purchase of the remaining five shares as soon
bonda will be issued at a rate not to exceed |3.»,0)0 per mile, as the owner returns from a trip to Europe. Mr. Cromwell stands
inclnding a provision for rolling equipment to the extent of ready to sell them to the Government at the price he paid for them.
This will probably be done within a few days. Prior to his purchase
§5,000 per mie
The mortgage will also permit the issuance o* the 275 shares Mr. Cromwell, upon the authority of Secretary Taft,
of bonds for the acquisition of terminals to the extent of $3,- gathered in 728 shares of outstanding stock.- V. 80, p. 872, 473.
500,000, additional tqaipment to the extent of $1,500,000, and
Pennsylvania BB. Option to Subscribe at par for Confor bridges or car-ferries to the extent of $1,000,000, The
vertible Bonds, isbue $100,000,000.
As announced by adverbonds win be secured by lien upon the entire property. Intisement on another page, the directors voted on Mar. 29 that,
cluding terminal.^ or terminal rights in the oity of New
to provide "the necessary funds for the payment of the
OfIe«ne. The company has sold 15,000.000 of the issue to a
coneolidated mortgage bonds which mature June 15th and
syndicate headed by Fiek & Robinson of this city.
July 1st 1905, amounting to |27,480,020
for an additional
President F. H. Goodyear, uuder date of March 7, writes
subscription to the capital stock of the Pennsylvania Comthe
bankers
in
to
nubstance as follows:
PRorosED KxrBNSioNB, Eto.—This company wlU acquire the rail- pany ; for the purchase of 400 locomotives, and inorease of
for construotion expenditure
owned
road
by the East Loulnlana RB. Co., extending fromaiano- tihop and terminal facilities
tlon with the New Orleans & North Eastern BB., at Pearl River Jano- on the tunnel extension of the system into the oity of New
&
&
A
We
6
—
.
:
—
&
A
—
;
;
THE CHRONICLE.
123G
York, and on the ternainal station therein ; for the oomple
tlon of the new low-grade freight line east of Colombia, Pa.,
and for other conetrnction and equipment expenditure upon
[Vol. lxxx.
will have its dividends guaranteed unconditionally by the
Consolidated Railwav of Connecticut (oontrolled by New
York New H^ven & Hartford RR. Co.), and will be redeemable at 105 and non-taxable in Massachusetts.- V. 77, p. 639,
Toledo to.) Railways & Light Co.—First Dividend. —The
directors have declared a first dividend, 1 p. c. payable
May 1 to holders of record Aoril 15.— V. 89, p. 998, 469.
United Gas & Electric Co., New Albaiay, Etc.— See New
Albany Water Works Co. under "Industrials" below.—V. 79,
the main line between Pittsburgh and New York and for
other corporate purposes," the privilege be given to tbe
stockholders to subscribe at par, between May let and 5th,
1905. inclusive, for new convertible bonds to an amount equal
to 833^ p. c, of the par value of their respective holdings of
stock as registered at 3 P. M. April 12.
The bonds are an iesue of |100,000,000 of 8K P- c gold
2458.
bonds, of the denominations of |1,000 and $5C0, reepec;- p.
Uuited
Railway & Electric Gompauleg, Baltimore.—DelUDnlcg
until
O^t.
tively, bearing date Oct. 2, 1605,
1, 1915,
with interest payable on June 1 and D.^c. 1 (the first coupon, posits of Scocfc.— A large majority of th>o capital stock has
however, covering two months from Oct, 1 to Dae. 1, 1905, been deposited with the Safe Deposit & Trust Co. of Baltiand the last coupon four months from Jnne 1, 1915, to Oct. more under the terms of the 3-year voticg tru8t expiring
Feb. 25. 1908. The time for deposits expired on March 15,
1, 1915), free of all taxes Imposed by the United States or ot
and
no further amounts have been acc-^pted since that date,
which
comand
the
Pennsylvania,
Commonwealth
of
the
pany may be required to deduct therefrom. Coupon bonds The voting trustees are Alexander Brown, Gso. C. Jenkins
registrable as to principal, or exchangeaole thereatter for and Douglas H. Thomas. The trust certlfisates have been
regiptered bonds, without coupons, in denominations of selling about 1 p. c. higher than the st ick.
Incoma Bonds.-The committee represeating the income
$1,000 or $5,000, or such larger denominations as may be
aulhorizsd by the board, These bonds will be convertible at bondholders has agreed that the deposited bonds shall not be
the option of the holder, at any time after Dec. 1, 1905, into disposed of without the consent of 75 p. c. in interest of the
stock, at $75 per share (par, $50), unless previously called for depositing holders. Further deposits will be received at the
redemption on Dfc. 1, 1910, or at any subsequent interest Baltimore Trust & Guarantee Co., Baltimore, till and inperiod on ninety days' notice, at par and interest, but when cluding April 15, 1905,— V. 80, p. 998. 223.
so called they may be converted up to thirty days prior to the
UtlCHi St Muhawk Valley Rj.— Cojitract for Elf ctric Power,
date named in said notice for redemption.
—See Hudson River Water Power Co, under " Industrials "
Warrants will be issued to each stockholder permittiog the below. Also editorial on page 1337.— V. 80, p. 223.
sale of rights and calling for payment of subscriptions either
Yandalia R^.—Sale of ^on'Js. —Speyer & Co. hiva purin full between May 1 >ind 5, inclU9ive, or in two instalments chased $7,000,000 consolidated mortgage 4 p. c. 50-year gold
of 50 D. c. each, the first between May 1 and 5, inclusive, and bonds of $1,000 each, dated Maroh 16, 1905, due Feb. 1, 1955;
the second between Sept. 25 and 30, 1905, inclusive.
authorized issue, $25,000,000. The company has outstanding
For paymentB made In fall at first Instalment period there will be Is- $14,649,500 capital stock, a large majority of which is owned
sned Xnll-paid negotiabie reoelpts tor amounts of $500 or multiples by
the Penneylvania Company (Pennsylvania RR, system).
thereof, bearing Interest at the rate of S** p. c. per annnm from May 1
Into Oct. 1, 905, which win be exchangeable for bonds on and after The mortgagee trustee is the Farmers' Loan & Trust Co.
Sept. 26, 1905; for amounts less than $5fi0 there will be Issued fullterest payable Aug. 1 and Feb. 1 in New York, The consols
paid scrip reof^lpts bearing Interest at the rate and for the time afore- are a first lien on the railroad from E»ist
S". Louis to the
said, and exchangeable for bonds when surrender*^ d In amounts of
$50u or mnlttp es theref»f, provided euoh surrender Is madw batweea Indiana State line, about 180 miles, and from Logansport to
Sept. 25 and Dec. 30, 1S05, Inolualve. After the latter dato these fullButler, lud., 93 miles, and a lien subject only to $4 ,700,000
paid scrip receipts cannot be exchanged for bonds, but will be redeem
old bonds on the remaining mileage owned, for which an
able at their face value wUh Interest from May l to Oot. 1, 1905 oniy.
Upon payment of the first Instalmeot there will be Issued negotiable equal amount of consols is reserved. See also page 1244.
The proceeds of the $7,C09,000 conaols now sold to Speyer
Instalment receipts, which are to be surrendered to the Treasurer at
the time of the payment of the second Instalment, whereupon interest
Co. will be used to take up $5,927, OJO matured underlying
win be raid on the first Instalment from May 1 to Oct. 1, 1905. at the bonds of various issues, which bear a high rate of interest;
rate of 3^ p. o. per annnm and delivery made of the bonds and scrip
the other $1,073,003 will be used for construction purposes
reoelpts for fractions of bonds respectively.
Co, and Kuhn, Loeb and to purchase equipment.
It is annouticed that J, P, Morgan
Description of Property, Bonds, Earnings, Etc.—The ofCo. will jointly underwrite the new issue of bonds. Comficial statement made to the New York Stock Exchange in
pare V. 80, p. 1112, 1002, 991.
coniiection with the listing of the capital stock will be found
Philadelphia Rapid Traasit Co.— Guaranteed Bonds Of- on pages 1243 to 1245 of to-day's Chronicle, affording full
fered.—See Market Street Elevated Passenger Ry. above.— information regarding the organization of the company, its
V. 80, p. 1175, 1059.
earnlDes. securities, balance sheet, officers, etc. V. 80, p.
;
1
&
&
&
—
PiltPburgh Terminal RR. & Coal Co.— Control— Contract 1176, 1113.
See Wab-ish-Pittsburgh Terminal By. under Annual ReTV abash RR.— Caii for Deposits of Debenture "B" BoncTa.—
ports, p. 1231.— V. 79, p. 2086, 1955.
The committee referred to last week, Henry Evans, ChairRapid Transit in New York Citj.— Routes of Rival Bid- man, requests the holders of the debenture "B" bonds who
Tbe routes for the exteaston of the city's subway sys- desire to co-operate in the proceedings to secure an adjustders.
tem as suggested severally by the laterborough Rapid Transit ment of the claims for interest upon those bonds to sign an
Co. and the New York City Railway Co. were made public agreement, copies of which may be obtained on application
last week (eee "New York Tribune of March 24 and map in to Henry Evans, at No. 48 Cc-.dar St., or at the office of the
"NbW York Times" of March 80). On Thursday of this United States Mortgage & Trust Co., No. 55 Cedar St,, New
week the Rapid Transit Commission received the report of York City. Holders are asked to subscribe to a defense find
its committee on plans and contracts recommending 19 to the extent of 1 per cent of the face value of their bonds.
routes for main line and cross-town subway roads and Brook- See further particulars in V. 80, p. 1175.
lyn tunnel roads and extensiona. See "New York Times" of
Controllei Company— Contracts,— See Wabash Pittsburgh
yesterday.- V. 80, p. 118.
Terminal Ry. under Annual Reports, p. 1231
V. 80, p. 1175,
St. Lonig BrownsTllIe & Mexico Ry.— JM or ^gfagre. —The
Wheeling & Lake Erie RR,— Control— Contract.— See
mortgage to.the St. Louis Union Trust C )., as trustee, is mide WabashPittsburgh Terminal Ry. under Annual Reports, p.
to secure an authorized isfiue of $4,000,000 of $1,000 5 per 1281.— V. 80, p. 1175.
cent gold bonds dated Nov. 1, 1904, and due Nov. 1, 1910.
but subject to call at par on any interest day (May 1 or Nov.
INDUSTRIAL. €IAS AND MISCELLANEOUS.
The bonds are issuable at $7,500 per
1) on 60 days' notice.
mile (f main line and branches. Of the bonds, $1,063,000
Alton (111.) Yfater- Works Co.—Sale April 18— The forehave been registered and itsui^d on account of the first sec- closure sale has been set for April 18 at Edwardsville, 111.,
tion of road from Brownsville to Robstown, 14' ^^ miles. under both mortgages, namely, that to Cal'dwell as trustee
Within the next tix months, we are informed, further bonds and that to the Farmers' Loan & Trust Co,, trustee. See V,
will probably be issued on account of the Fordyce branch
80, p. 713.
from Harlingen to Fordyce, 65 7-10 miles, and the section
American Clay Machinery Co.— Successor Company.— Bee
from Robstown to Bay City, about 143 miles, now under conClay Working Machinery Co. below.
—
—
—
Btruotion.— V.
80, p. 1175, 872.
8t. Lonig Walking H Galf Rj,— Change in Control— The
annual report recently issued by the Missouri Paclfia Ry. Co.
shows that the control of this road, which extends from Lake
Charles to Alexandria, La., 98 miles, with branches 8 miles,
has been acquired by the St. Louis Iron Mountain & Southern Ry. Co., that company owning $499,880 of the capital
stock, authorized issue $1225,000, outstanding at last ac-
counts $993,360; also |527,260 of the first mortgage bonds, authorized $1,225,000, present issue $983,360.— V. 75. p. 291.
8an Ff antisco Oakland & San Joee (Electric) lij.— Bonds
Listed in Han Francifco.— Tbe $3,000,000 Ist mortgnge 5 p. c.
gold bouds due Jan. 2, 1983, have been listed on the Stock
and Bond Exchange of San Francisco.- V. 79, p. 2749.
Springfield (Masg.) Street Rj.— Offer for Stoek.—hee,
Higgle son & Co. of Boston offer $225 per share for a ma
jority or all of the $1,958,400 stocsk, stockholders having tbe
option to take either all cash or $75 In cash and $150 in 4 p, c.
cumulative preferred stock of a holding company, lo be
called the Springfield Railwavs Co. The preferred stook
American
American tlay-W«rking Mnehinery Co.— Foreclosure
Salt.—At the judicial sale in New Brunswick. N. J on
Nov. 29, the properties of the Great Easttrn and National
Manufacturing companies at Sooth River, N. J., were bid in
at the upset prices, $825,000 and $48 000, respectively, (subject to a mortgage of i65,0C0 made Jnly 1, 1902, by the
National Clay Manufacturing Co.) to F. B. Schenck, Chairman of the Reorganization Committee. The plants of the
American Clay-Worklng Machinery Co. at Bucyrus and Willoughby, Ohio, were also bid in by the committee on D.'c. 9,
See plan in V. 78, p. 2887, and compare V. 77, p. 1227.
All creditors of tbe Great Eastern and National companies
are notified to present their claims to Pay son Merrill, Special
M<stcr, 81 Nassau Street, N Y. City, on or before Mar. 81.
In New Jersey on Oct. 10 the National Clay Co. was
incorporated to succeed the National Clay Manufacturing
Co., the Great Eastern Clay Co. to take over the Great
Eastern Clay Manufacturing Co., and the American Clay
Machinery Co. to take over the American Clay-Worklng
Maohioe Co., an Ohio corporation. The capital stock of the
,
Apr.
1,
THE CHRONICLE.
1905.]
National Clay Co. Is fixed at $125,000, and of each of
the other new companiea at $500,000.— V. 79, p. 628.
American Ice Secnrities Co.— Incorporated. This company was incorporated in New Jersey on Wednesday with
120,000,000 of authorized capital stock, in accordance with
the readjustment plan of the American Ice Co. See V. 80,
p. 601, 1176.— V. 80, p. 165.
Eastmans Limited.
new
—
1237
—JBeporf.—The results for the calendar
year were:
Net profit.
Pref.div.
Ordinary div. Bal.foryr.
«67.921
(6%)£38,055
(6%)*2!\8BO
def. «14
91,666
(18%)61,792
def.
7
(5%) 29,881
Balance carried forward to next year, £8,500. The arrears
of dividends on the preference shares were paid up in 1903.
Year.
1904
1903
V.
78, p. 105.
American EoUIig Mill Corporation, Chicagro.- BedMction of Stock Bond Lsue.— T'ais company, incorporated in
—
(John E.) Ferrier.— CaWed JBonds.- Twenty-one first
mortgage
20-year 4% p. c. bonds, secured by a mortgage for
Illinois in Dc;cembf:T, 191)1, with $1,000,000 authorized capi$1,297,000 dated July 1, 19D1, were called and paid on Jan. 3,
issued,
has
of
was
reduced
which $750,000
its
tal stock,
19U5, at the Standard Trust Co., N. Y., trustee.
of which
to
out-
$260,000 is
$300,000,
stock 88 of Feb. 1, 1905,
mortgage has also been
standing; par of shares, |100.
made to the Union Trust Co. of Itdianapoiis, as trustee, covering the plant at Muncie, Ind,, to secure an issue of $10D.COO first morfgage 6 p, c. bonds to provide for floating debt
and furnish working capital.
The company owhb bar-iron rolling mlllB at Manole, Ind., having an
annaal oapaolty of 37,000 tous; alec a chain mill at East Chicago,
Ind., not Diw in operation. It formerly owned also a rolllnitr mill at
Sandwich. 111., and a rolling mill and steel plant at Maekegon. Mich.
The Mn^begon plant was (ilsmantl«d In 1903 and the machinery sold
to the Fort Wa\ne (Ind Iron & Steel Co. The new bonds are dated
Feb. 1, 1905, aiid are due In series of $10,OCO annually; denomination, $600; Interest payable Aug. 1 and Feb. 1 at cflloe of trustee.
Any or all of the issae Is sutiject to call on any Interest date after two
years at 103 and Interest. President, Lewis O. Straight; Sec. and
Tieas., Fred. W. Peofe Jr., Rookery Building, Chicago.
This company should not be confounded with American
Rolling Mill Co. of Cicoinnati in V. 71, p. 31.
A
)
General Gas, Electric & Power Co., ConnergTille.— -S'a/e
Protested.— At the recent judicial sale the property was bid
in for a sum stated as $26.0C0 by George Markle of H^rzleton,
Pa. E. H. -McKnight of Middletown, C, protests that the
price is too low.— V. 80, p. 474,
Great Eastern Clay Mannfactaring Co.
American Clay- Working Machinery Co. above.
— Sold.— See
Great Sowthern Lnmher Co. Contract.— See
Great Northern KR. under "Railroads" above.
New Orleans
Hamilton (0.) Heme Telephone Co.- Increase of Capital
Sfoc/c— This company, has increased its capital stock from
$300,000 to $300,0001, to provide for extensions, etc. The new
stock is 6 p, c. preferred and it is being offered at par. V. 75,
—
p. 1256.
Herring Hall- Ufarvin Safe Co.— Reorganization.— ReferAmerican Smelting Exploration Co.— Incorporated.— ring to the readjustment plan, the committee announces that
This company was incorporated in New Jersey on Thureday morxj than a majority of the capital stock outstanding has
to take over (ner plan ia V. 80, p. 873,) the properties of the
Gnggenheim Exploration Co. and other mining enterprises.
The authorized capital stock is $54,500,OCO, consisting of $24,500,000 common, $33,500,000 preferred "A" 6 p. c, cumulative and $7,500,030 preferred "B" guaranteed 6 p. c. cumulaRefining Co. will exercise
tive.
The American Smelting
control through ownership of a majority of the common
stock, the preferred shares having no voting power for first
two years, nor thereafter unless their dividends rtmain
unpaid for one year.
Negotiations for the merger of the lead manufacturing
properties, as yet independent of the American Smelting
&
&
Refining Co. with that company,
pending.- V.
it is
understood, are
still
80, p. 873.
Annual- Wind Clock
been depofcited thereunder, and the time has been extended
to and including Anril 14, 1905, for the further deposit of
stock with the New York Trust Co., 26 Broad St., New York
City.-See plan, V. 80, p. 999, 995.
Houston Oil Co., Texm.— Receivers' Certificates.— Appl^oa.'
tion. has been made for permission to issue not exceeding
$235,000 receivers' certificates for the purpose of liquidating
on 96,415 acres of land, situated chiefly In Newton,
Liberty, Orauge, Jasper, St. Augustine and Harding CounJiens
ties, TeXfilS.
Sale of Stoc1e.~At auction in this city on Mar. 15 Adrian
& Son, anccioneers, sold several lots of this company's stock (trust company's cerHficates of deposit) as follows: Common stock aggregating $940,000 at 7 to 9; preferred
st03k, $245,000 at 84^ to 393^.— V. 80, p. 1178, 475.
H. Mniler
Co.,^ Middletown, Conn.— Sold.— At
March 33 the plant at Middletown was purchased
Hndson County Water Co.— New Name— Mortgage.— The
Richmond Water Company has filed a certificate in New
by Joseph Merriam for $17,503.— V. 80, p. 1060,
Angosta (Ga.) Telephone & Electrie Co.—Sold Under Jersey increasing its capital stock from $250,000 to $1,000,Order of Court— Service to Cease. This company's property, 000, and changing its name to the Hudson County Water Co.
said to have cost over $100,000, was sold at auction at Augusta Under the new name has been filed a mortgage to the Meen March 7 under order of the Superior Court, the purchaser chanics' Trust Co. of Bayonice, trustee, securing an issue of
being L C H^yne, agent for the bondholders. The plant $4,000,000 of 5 p. c. 50-year bonds dated Deo, 15, 1904; interbrought $15,0C0, the realty |8,000; total, $23,000.— V. 80, p. 878. est payable semi-annually. The company supplies water to
Bayonne and other New Jersey towns, and, It is said, ia
Barney & Smith Car Co.— Pwrcftase.—This company has planning to carry its pipes under the Kill Von KuU into
purchased the plant and timber lands of the Q. V. Qress Staten Island.
Lumber Co. at Mllltown, Qa. " Atlanta Constitution" eays:
Hadson River Water Power Co., Glens Pall, N. J.—ImThe Gress Company was incorporated in 1902 and erected a large sawmill
the sale on
—
with the latest equipment, ana owned and operated the Mllltown Air Line By.,
14 miles long, between Mllltown and Haylow, on the Atlantic Coast Line. The
consideration is said to have been $300,00'>. With the plant goes a fine body of
sawmill timber, sufficient to keep the mill in operation for several years.— V.
78, p. 238U.
—
portant Contract, We have teenfavored with the following
authoritative information concerning the contrect recently
entered into by the Hadson River Water Power Co. and the
Utioa & Mohawk Vallev Railway Co., the latter corporation
being used by the New York Central as a basis to control the
BelTidere (111.) Gas & Electric Co.— Bonds Offered.—
MacDonald, McCoy & Co., 171 La Salle St., Chicago, are trolley business of the Mohawk Valley
offering at 101 aod interest $150,000 first mortgage 5 p. c.
The contract runs for 25 years from July 1, 1905, when the Water
gold bonds of $1,000 each, dated June 1, 1900, and due June Power Company will begin to supply power. The sub-stations and
transmission lines now In use by the trolley company are turned over
1, 1930, but subject to call on any interest payment date on
to the Water Power Company for use without charge. The Railway
or before June 1, 1910, at 105 and interest, and after 1910 at Company tabes at the beginning (July 1, 1905,) 4.500 horse power, inpar and interest; interest payable June 1 and Dec. 1 at office creasing from time to time, a^ the requirements demand, up to 20,000
of American Trust & Savings Bank, Chicago, trustee. A horse power.
The Railway Company cannot during the life of the eontract, or uncircular says:
til it
Capital stook. $150 0^0; bonds authorized and outstanding (closed
mortgage) $150,000. Earnings for the year ending Feb. 28. 1905:
Gross, $&3,362; expenses, Inoladlng taxes and insurance, $34,570; net
earnlngp, $18,786. The company controls without com petition all the
gas, electric-lighting, power and hot- wat«r heating basli ess in the
city of Belvldere and vicinity, serving a total population of about li,000. Franchises perpetual and free from burdensome conditions.
Electric system ooneistn of about 60 miles of wire and the gas system
about 12 miles of mblDB. The [Yaryan] system of hot water heating
has over 6 miles of Insulated street muins. Supplies electric p'>wer to
local street railway company and to Bookford * Belvldere Electric
By. Co. Sinking fund ($80,000) must be paid before the loan
matures.
Canadian General Electrie
the calendar year were
Co.— i2i?por^— The
Tear.
Dividends, Written off.ete. Bal.,sur.
$i,144
$i!84,890
$18S',6».2
results for
:
1904
1903
Profit.
Interest.
$682,519
512,211
$107,878
39,753
269,278
100,000
103,180
-V. 79, p. 732.
Central & Sonth American Telegraph Co.— i^fi^orf.— The
results for the year ending Dec. 31 were
Tear—
Qrots.
Kf.t.
SaL.sur.
Renewalt. Biv.fip.e.
:
1904
$1,140,454
$fe7,»22
$727,032
$463,586
$ 95,574
1903
1,072,134
140,591
666,8i8
62,710
463,536
Total surplus on Dec. 31, 1904, $1,016,487.— V. 78, p. 1335.
Chicago Pnesmatic Tool Co.— Dividends Resumed.— T be
directors on Wednesday declared a quarterly dividend of 1 p.c.
on $6 032,900 capital Block, payable on April 20 to holders of
record April 12(?). This is the first distribution to the shareholders since January, 1904. The dividend rate in 1902 was
8 p. c. per annum, subsequently reduced to 7 p.c. and later to
6 p. c. See V. eo, p. 1114, 878.
has need the entire 20,000 horse power, contract for or prooore
power from any other source or make
it
by steam for
their
own
use,
being obliged to take their entire reqairements from the Power Company Dp to 20,000. The power is delivered along the line of the present railway and future extensions as far west as Syracuse and 10
miles north or f onth.
The Railway Company pays monthly aflat rate equal to two-thirds
of its maxlmom demand, whether the power is oseo or not. This payment Increases with the maxlmnm demand ihronghont the life of the
contract. The price paid is considerably in exoodS of $50 per horse
power per year lor twenty-four hours' use.
The Water Power Company and
its
allied
companies
own
or control developed and undeveloped about 150,030 horse
power. The present daily output is about 85,000 horse power
and is increafiing very rapidly. The General Electric Co.
takes from 10,000 to 13,000 horse power daily for use in its
shops at Schenectady, and the remainder is sold in Albany,
Troy, Watervliet, Amsterdam, Billaton, Saratoga Springs,
Glens Falls and vicinity. Eugene L. Ashley is President.
V. 78, p. 2603,
Imperial Tjpewriter Co.— Successor Company.— This
company organized lust November under the laws of New
Jersey with $1,000,000 capital stock in $100 shares, of which
one-half ia 6 p. c. non-cumulative preferred, acquired by
deed on Jan. 24 the property of the Standard Typewriter Go.
V. 79, p. 737— (enocessor to the Manhattan Typewriter Co.)
including the factory at Sheffiald and Nassau sts., Newark,
patents, etc. The new company has made a mortgage to the
Cl'y Trust Co. of New York, as trustee, to secure an issue of
$350,000 5 p. c. bonds of |5[ each. The incorporators of the
Imperial Co, were
Waldron Blake and Jacob C. Wolfe of
New York and Jacob Bodmer of Newark.
—
G
THE CHRONICLE
1238
Independent Consolidated Telephone Co., Wisconsin.—
gre. — This company has made a mortgage to tLe Milwaukee Trnst Co trustee, to spcnre |70,000 2C-year 5 p. c.
bonds; denomination, |1C0 and $500.
Mortgc
,
The morti;age covers poperty In RlohlftDd, Grant, Iowa, Crawford,
Vernon, Saali, Lafajette and Jtfleri^on counties. Wis and Is sahj-^ct to
a mortgage of $10,000, executed June 1, 1904. by the Union Tele
phone Co. The Independent Consol. Tel. Co. was Incorporated in
Wlsooneln on Aug. 26. X901, with $500,000 authorized capital stock,
and obtained options on a number of independent properties, ownlnf^
In all some 600 miles of toll line, etc. A. L. Hatohlnaon is President
and M. K. Low, Secretary, Milwaukee.
Indianapolis Gas.— Bonds Called.— The entire issue of
$2,750,000 first mortgage 68 of 1890 has been called for re
demption and will be paid on May 1 at the Cettral Trust Co
New York, at 105 and interest. As to option of exchange, see
below; also advertisement on another page.
Refunding— Option of Exchange. The company has sold
the entire present issue, $4,000,000, of its new b% 50-year gold
bonds, which upon the payment of the first mortgage bonds
as aforesaid become a first mortgage on the entire property.
can state on reliable authority that the entire block was
taken by lodianapolis parties and distributed between banks
in that town and in Cincinnati.
The Trust Company of America, trustee under the 5 per
cent mortgage, by arrangement with the purchasers,
will
any time prior to April 27 exchange the
at
first mortgage 63 for the new bontls upon the following
terms, viz.: For each old 6 p. c. bond (par value $1,000) with
May 1, 1905, coupon and all subsequent coupons attached, the
holder will receive one new 5 p. c. bond (par value $1,000)
bearing interest from April 1 1905, and also $40 in cash.
The new mortsase is made for $7,500,000, of which, as above stated'
only $4,000,000 have been isened as representing actual investment
for betterments. Underthe terms of the deed of trust no more bonds
can be Issued under this mortgage excepting to the extent of 90 p. c.
of the actual amount invested for betterments in future
The 5 per
cent bonds are issued ander the mortgage dated Oct., 1902, and mature Oct. 1, 1952 (not Apr. 1, 1953, as heretofore reported).— V. 79, p.
2591.
Lehigh Coal & Navigation Co.—Deposits Under the Voting
Trust, The time for depositing stock under the voting trust
has been extended until May 1. Of the total issue ($17,345,050), there has thus far been deposited about $12,690,250.— V.
,
,
—
We
,
—
[Vol. lxxx.
out the city by gravity pressure. The city of New Albany is now
using an average of ?,000,000 gallons of water per diem. An auxiliary
supply is a series of five connected deep wells with pumping apparatus complete for use in case of accident to the principal station, or a
great corfl.*gratlon.
For the ilrst nine months of 1904 the gross receipts were $37,214;
operating expen.. $9,485; taxes, $*,S13; net «arntng8, i23,4ia, being
on the basis for the twelve months of $31,223. Wltn the extensions
now contemplated, we estimate for the year 1905: Gross receipts,
$53,000; operaTiQg expense?, $9,000; t*xes. $6,000: net earnings,
$38,000; interest charges on $ i50,000 of bonds. $ -2.500; balance, Burplus, $15,500. The company has for many years earned liberal dividends on its $232,900 capital stock; except where these earnings have
been put into extensions, it has paid to the e.tockholder8 6 p. 0. per
annum. Franchise jast extended to a period of 25 years. Has 25-year
contracts for hydrant rental; iu all 214 hydrants, aggregating $: 2,500 annual rental.
The total amount of bonds authorized is $750,000, of which $150,000 are In trustee's hands to retire a former issue and $300,000 are
reserved for future extensions, which can only be issued at 90 p.
of
the cost of Buoh improvements. The bonds now offared provide for
immeliate extensions (see V. 78. p. 2388). The ownership and management is the same as that of the United Gas & Electric Co New
Albany (seepage 1558 of Stbebt RAiLWiLT Section for Gat, 1904),
Samuel Insull of Chicago being President of both corporations. This
latter company has increased Its business during the last two years
more than 100 p. 0.
,
The company is preparing to install two 3,000, 000-gallon
centrifugal additional pumps, either of which will be of sufficient capacity to supply the territory served by the company. These pumps will be operated by the United Gas
Electric Co. at a minimum of cost, as they will be run at
night and at such times during the day as the electric com-
&
Compare V. 78, p. 2388.
Northwestern Steamship Co.— Payment on Principal of
Bonds— OaQ of the company's steamers having been lost and
the insurance money sufficing to pay 50 p. c. of the principal
of the outstanding bonds of 1901, the holders of the same are
notified to present them at the Detroit (Mich.) Trust Co., trustee, in order that the payment may be made and endorsed
thereon, as provided in the mortgage.— V. 78, p. 349.
Pittsburgh Coal Co.— Terms of Contract with Pittsburgh
Terminal Railroad & Coal Co.— See Wabash-Pittsburgh
Terminal Ry, under Annual Reports, p. 1231.— V. 80, p. 874,
pany has most power available.
708.
Pittsburgh Store & Range Co.— Mortgage, Etc.- A mortgage has been made to the Fidelity Title & Trust Co. of PittsManhattan Typewriter Go.—Sueoesaor Co.— See Imperial burgh, trustee, to secure $600,000 20-year 5 p. 0. gold bonds
Typewriter Co. above.— V. 72, p. 440.
of $1,000 each, dated Dec. 1, 1904; due Deo. 1, 1924 (no option);
interest payable June 1 and Dae. 1 at office of trustee there
Medina Quarry Co. Insolvent, A petition in involuntary are no underlying liens. Of the new bonds, $500,000 will be
bankruptcy was filed against this company in Buffalo on
issued to retire the $1,000,000 preferred stock on basis of $500
Feb. 11 by Griggs, Baldwia & Baldwin, 27 Pine St., New
for $1,000 stock. The company owns part of the preYork City, and other creditors. Blocks aggregating $52,000 bonds
ferred, so that about $140,000 of the bonds will remain in the
of the company's $1,200,000 6 p. c. bonds were sold at auction
treasury to provide for outstanding bills payable. Under the
last week with the coupon of Ootober, 1904, attached at 11 to
last the common stock Is reduced from
8L>,
p. 1061, 874.
—
\\%
p.
;
plan of
c— V. 74, p. 481.
Mexican Telegraph Co.— jReport.— The
results for the year
ending Dic. 81 were:
Net.
Mex Oov.share. Improv'ts. IHvs.{lO%). Bal., rur.
9Z»,{j88 $191,260 $253,3&0
$511,700
$38,002
463,035
20,000
10,471
191,260
241,304
Total surplus on Dec. 81, 1904, $1,676,189.—V. 78, p. 1226.
Ytar.
Orou.
1904. .$612,933
1903.. 561,203
Morgantown (W. Ta.) Tin Plate Co.— SoW.—This 00mEany's plant, consisting of eight sets for tin or terne plates,
at never operated, was sold at auction March 17 to John
G. Frazier of Pittsburgh for $154,100.— V. 78, p. 1118.
(The) Mortgage Bond Co. of New York.— This company
was incorporated at Albany on March 28 by interests in the
November
$1,000,000 to $500,000, the par value of shares remaining $50,
but the holders receiving $25 of new common for $50 of the
old.
The outstanding capitalization therefore becomes
Common stock, $500,000; first mortgage 53, $480,000.
The circular to shareholders calling tha meeting of Nov.
21, 1904, said in substance
It is proposed at some futare time to dispose of the property at
Darragh and Robinson streets, Allegheny, and apply the proceeds of
the sale thereof to the payment of the bills payable, in which event
the bonds owned, repreaeating the billn payable, will be canceled.
When our new buildings, now under construction on the old AnsohutzBradberry property are completed, all manufacturing operations will
be concentrated at that plant, with the exception of the New Castle
plant, and all deliveries, with the exception of city deliveries, will be
made through railroad connections. It is believed that tbo concentration of the manufacturing operations at this point will result in a
saving sufficient to put the new stock upon a dividend-paying baaia
almost immediately.
President, John D. Nicholson; Secretary and Treasurer,
John 8. Graham.- V. 79, p. 2460.
Lawyers' Title Insurance Co. and the Lawyers' Mortgage
Co., with $2,000,009 capital stock ard $400,000 surplus to
carry on business under the New York Banking Law as
proposed under caption "Lawyer's Mortgage Bond Co." in
V. 80, p. 602, 874. The directors are
Plait Iron Works, Dayton, Ohio.— Description of Bonds.
John Arbackle, Edwin W. Coggnshal), Julian D. Faircblld, Robe:t
W. Goelet, George H. Southard, FrankHn B. Lord, Louis V. Bright, —The $800 030 first mortgage 5 p. c. gold bonds, of which
Clarence Gary, William P. Dixon, Charles Elnsiedler, Henry E Hi>w- $490,000 are outstanding, are described as follows:
land, Thomas H. Hubbard, George A. Hard, Richard M Hnrd, Thomas
Dated Sept. 1, 1994, due Sept. 1, 1944. but subject to call after Sept.
D. Jordan, John T. Lockman, David B. Ogden, Albert H. Vernam,
at 105. Interest payable March 1 and Sept. 1 at offloe of CinGeorge
L. Blves.
Nantucket (Mass.) Gas & Electric Co.—Soi!i.— At the ad
journed forecloeure sale in Boston on Mar. 27, the property
was bid in free of encumbrances by Leslie K, Storrs, for $25,000, the upeet price.— V. 80, p. 1000.
National Clay Mannfactaring Co.— SoW.— See American
Clay-Worhing Machinery Co. above.
National Light Heat Sk Power t'o. Jwcorporafed. -This
company was Incorporated under the laws of Maine on
Dec. 29, 1904, with $5,000,000 of author zed capital stock.
Directors: Prefiident, M. W. Baldwin; J. R. Qriffia and A. 8.
Conant, all of Portland. Treasurer, J. J. Hernan. Office,
Corporation Trust Co., Portland.
—
New Albany
Trowbridge
&
Water Works.— Bonrfs Ojffered.—lhe
Niver Company recently offered at par hiu\
(Ind.)
mortgage gold aerial
dated April 1, 1904. Denominaiions. $1,000, $500 and
$100.
Interest payable April and Oct. l«it at United States
Trnst Co., Louisville, Kv., tr Mercantile Trust Ca., New
York, trustees. A circular says
The ormpany has been in profitable operation for many years.
Recently it acquired the property of the Indiana Water Co.. and It
now owns the eutlre syttein t-upplylng N«w Albany (POi»nlttt,lon 2fi,000) and win extend Its service to Include Silver Grove and Olark*interest a block of the first consolidated
58,
:
vUle, having an additional population of 6.000. ihe wattir sappiy ie
the Ohio River and a deep wj-U system. From the river the wat«»r is
jumped Into extensive reservoirs, four in nnmber (capacity 27,0C0,""1 gallons), situated
on Silver flllls, and thence distributed through-
1, 1919,
cinnati Trust Co,, trustee, Cincinnati. Ohio.— V. 8
J, p.
874.
Riverside Bridge (Building) Co., Wheeling, W.
—
Va.—
Increase of Capital Stock. Theshareholders will vote March
28 on increasing the capital slock to $500,003, all of one class.
Sae V.
80, p. 874.
San Fernando Mlssi inCo., Los Angeles, Vol.— Bond Issue.
The sharetjolders were to mett at the office, No. 133 N.
Broadway, Loa Angelea, on March 33, to vote upon creating
a bonded debt ot $400,000,
Fred. H. Taft, Secretary.
San Francisco Gas & Coke Co.— Construction,— Fre&idmt
Michael 18 quoted as followe:
Two great factors are being Introduced in the city of San Francisco
to cheapen the cost of both power and fuel. The first in th« San FranotHOo Gas A 0<kf) Co., incorporated under th« laws of California for
$5,000,000, and the other the Stanislaus Et»otrlc P >wer Co. Both
enterpri(>e« were flnHnced by an Eaatern syt dloate. The directors of
the San Francisco Gas & Coke Co. have authorized a bond iHSue for
$2,500,000, and theshareholders win meet on April 27 t) ratify the
same; srlllotent of thn bonds have been sold to a New York banking
house to pay for installing the system.
Coke Co. are to make gas out
The plans of the San Fran Cisco Gas
of Uiw grade oil and une the other ingredients in the intnnfaoturn of
c( mtnerolal cokei, so that there will be as little waste as possible. The
wurk of laying pipe was b(>gan March SO, and we expect to lay 18
miles every three months. We further expect to commence diatributlnK gas by June 1.
The Stanislaus Electric Power Co., I am Informed, has acquired
300 cubic feet of water per second, which is equal to 16,000 miners'
inohea, and it is the Intention to use 180 cubic teet pur second in the
&
Apr.
1,
THE CHRONICLE.
19U5.J
J
239
This water acquisition of the oompaiiy
Murphys.ln Taolumne County. 130 miles from San Franolsoo.
The company has a storage reservoir In the mountains with a capacity
of £00,000.000 cDblc feet of water, and It expects to generate 21,000
horse-power for light and power purposes.
Leopold WaDach, who represents the company in this city,
has been erroneouply described as a "Standard Oil attorney."
United Coke & Gas Co.— Termination of Lease.— This company in Janudr? last terminated its lease to the S-'met-Solvay
Co. of Syracuse, N. Y., and resumed thf> busiaess of exploiting by-product coke ovens of the Otto-H jffman and United
Otto types, of which 2,603 were then In operation and in
course of construction in the United States and Canada,
Tbe American Coal Products Co. (which controls the United
—V. 80, p. 1062, 326.
Coke & Gas Co. and the Barrett Mfg. Co.) continues as sellSolTay Process Co.— Lease Terminates. See United Coke ing agf-nt for tha tar and ammonia produced by both the
& Gas Co. below.— V. 79, p. 107.
United Otto and Semet-Solvay ovens. See V. 77, p. 2287; V.
Sqaire (J. P.) & Co.— Termination of Voting Trust.— In 76, p. 870.
accordance with the terms of the stock trasc certificates
Tan Baren (Irk.) Electric Railway & Bridge Co.— Iftissued by the voting trustees, registered holders thereof may corporateil. This oompany was incorporated in Arkansas
on
obtain certificates of capital stock, upon surrender of their Jan. 4 with $500,000 capital stock to construct a street railthe
Colony
Trust
Co.
at
Old
bond
certificates
destock trnst
way iu Van Buren and an interurban line between Van
partment, on or after April Ist, 1905.— V. 78, p. 2338.
Buren, Alma and Mulberry, Crawford County. IncorporaStandard Typewriter Co.— See Imperial Typewriter Co. tors: Philip D, Scott, Charles H, Drennan, S. L. Scott, J. S,
Danham and L. H. Southmayd.
above.
epHeratlon of eleotrlo Dower.
18
at
—
—
Stark-Tascarawas Breweries Co., Ohio.— Consolidation.—
This company was incorporated under the laws of Ohio on
Mar. 13 to take over the following breweries:
Ganton Brewing Co. of Oanton, Stark Brewing Oo. of Canton. Bohister
Brewing Oo.of MaesiUon, New Philadelphia Brewing Co, of New Philadelphia and the Ooyer Brewing Co. of Canal Dover.
The stock on Mar. 17 was increased to $1,500,000, of which
$750,000 is 6 p. c. preferred. The present issue, it is stated,
will be $627,000 each of common and preferred. There is
also an issue of $1,500,000 of 6 p. c. bonds, of which 1,254,000
will be put out »t present. Of the bonds, |525,C0') were underwritten through M. J. Mandlebanm & Co. of Cleveland,
25 p. c. of preferred stock and a like amount of common
being given as bonus. The average annual net proceeds for
the last three years, it is reported, were 1 150,479; average
annual sales, 88,089 barrels; average profit |1 81 per barrel.
The Cleveland Trust Co. will be the mortgage trustee- The
incorporators, all Cleveland men, are:
Emil Joseph and F. W. Qehrtng, the leading spirits, who also promoted the Cleveland & 8andu*k? Brewing Co., the Dayt n oonsolldailon and the Toledo combine; E. W. Walte, William Sohaeff er and E.
,
O. Hell.
Swift & Co.—Planta.—The company's packing plants "all
located in the heart of great agricultural centers from which
come the finest grades of cattle, sheep and hogs," have floor
space (in acres) as follows: Chicago, 87^; Kinsas City, 80;
Omaha, 26; S;. Louis, 19;g; St. Joseph, aSJ^; St. Paul, 12;
Fort Worth, 15.— V. 80, p. 161.
Tabard Inn Corporation. -Receivership for Five of the
8ub Companies.— At Philadelphia on March 27 Judge HjIland of the United States Court, in creditors' suits, appointed
John H. Sine, Charles M, Levis and R. Thornton Eaton as
receivers for five of the subsidiary companies, viz.: Tabard
Ion Shops and Studios, Tabard Inn Press, Poiladelphia Book
Store Co., Tabard Druggists' Specialty Co. and Tabard Inn
Food Co. The Tabard Inn Corporation (the parent company)
and its other Bubsidiaries, the Hooklovers' Library, the Booklovers' Mag&zlue and the Tabard Ian Library, are not included in the receivership, but a gensral reorganization is
proposed, the enterprise to be restricted to literature. A
bond Issue, it is stated, is favored by the dliectors.
President Seymour Eaton in Pnila, says in substance:
This action is taken by creditors in a friendly spirit, and not a single
creditor need lose a penny. The total liabilities of all departments are
less than $150 OOO. The gross earnings for the eight months since
oonsoiUatlon were $1,014,197, or an average of about $125,000 a
month. The gross cash earnings since Jan. 1 exceed $250,000. For
months we have Deen on the border line between making money and
losing money. Our assets exceed $2,000,000, but these aesets are by
tha nature of the business scattered from Seattle to Atlanta and from
Boston to San Francisco, In more than 2,000 cities and towns. We undertook to carry too large a business on too small a cash capital.
Other causes were the flood of cheap fiction that has been sweeping
over the country, the Oamegle wave of library benevoletjce and the
smallpox epidemic here, wltti fear of contagion being c<»rrleJ In
books. The scheme was sane enoDgh as a scheme ; Its eventual working out win prove that. [8j6 further particulars In "Philadelphia
Ledger" of March 28 and 29.]— V. 78, p. 2602.
Tamarack Mining Co.— Report.— The
results for the cal-
endar year were
Year—
Receipts.
:
Expenses.
Net.
Dividend*. Bal.,sur.
$1,981,361
$1,780,552
$200,809
8200,803
2,042,223
1,731,510
807,713
$90,000
217,712
From balance as above there was pp?nt for construction in
1904 $161,953, against 122,647 in 1908.— V. 78, p. 1891.
1904
1903
Texas & Pacific Coal Co.— Stock Dividend— A. quarterly
dividend of 2 per cent has been declared, payable in stock or
scrip, on Mar. 31, to holders of record Mar. 21.
Cash dis
tributions of \% per cent quarterly were paid from 1889 to
Jan., 1905, inclusive.- V. 71, p. 1175.
Tuwnsend- Downey Shipbaiiding & Repair Co.— Soli
Idarch 74,— This company's property was sold under order of
tbe Uuited States District Court for the Southern District
of New York, on the premises at Shooter's Island, Richmond
Co., N. Y., on March 14, under foreclosure of mortgage
dited Jan. 2, 1903. Tae purchaser was the Colonial Trust
Co., the mortgage trustee; purchase price $516,000, free and
clear of all liens, except a real estate mortgage for $3,000
^
V. 77, p. 2162.
UBi;)n Light, Heat & Power Co., Fargo, N. D., and Moorhead, SLiua.— Earnings, Etc.— For tbe calendar year 1934
gross earnings are reported as $127,593, contrasting witn
$118,402 in 1903; net earnings, $60,098. Total bonds outstanding, date of last report, $359,500. Compare V. 76, p.
1198; V. 78, p. 1327.
'
Wachovia Coal Co., Maryland.— Iforfgraflfe.— This company,
in Maryland last February, with $500,000
capital stock, has made a mortgage to the International
incorporated
Trust Co. of Baltimore to secure an issue of $300,000 5 per
cent first mortgage gold bonds. William D Young is President, and A. Hunter Boyd Jr., Baltimore, Secretary, The
property includes the old Montell mining property.
Directors.— William I. Young of Greensboro, Gorge H. Proctor of
New York, N. Y William O. Robinson and A. Hanter Boyd Jr., of
Baltimore Md., anl Frederick Mertens of Cumberland, Md.
.
—
Western Distilleriea Co., San Fr&ncisco.— Mortgage.
company having absorbed the Union Distillin? (Jo. has
made a mortgage to the Central Trust Co., San Francisco,
This
as trustee, to secure $150,000 of 6 p. c. 10 year bonds of $1,000
each- $100,000 is to pay indebtedness of Union Co. and the
remainder for improvements.
Westmoreland Coal Co.— New Bonds and Stock.—The
shareholders will meet (1) oo April 5 to vote on increasing
the capital stock from $3,000,000 to $5,000,000 aud (2) on
May 2") to vote on increasing tbe indebtedness bv borrowing
$1,000,000 for a term not exceeding 10 years (see V. 80, p, 717).
Extra Dividend. The company has declared a dividend of
8 p. c. and an extra dividend of 2 p. c, payable April 1.
Recent Acquisition. A special telegram to the "Pittsbargh
Dispatch" on March 2 from Irwin, Pa., gave the following
regarding the purchase of the Penn Gas Goal Co:.
The purchase pric3 was about $3,500,000, being on a basis of $400
an acre for coal Una and $1,500,000 for equipment. This will increase
the company's holdings to 20,000 acres of coal land and ten working
mines, with an annual capacity of 3.000.000 tons, making It tbe
largest producer of gas coal In the State. Operates 3,000 oars, with a
fleet of coal carriers between South Amboy. N. J., and tha New England States The Westmoreland Goal Co. has been in existence 51
years the Penn Gas Coal Oo. about 40 years.
E. H, McCuUough of Philadelphia is now President of
both companies, and the members of the Westmoreland
board have been elected directors of the Penn Company. In
1904 Ihe Westmoreland Company, it is said, produced 1,769,604 tons and the Penn Company 643,370 tons.—V. 80, p. 717.
West Penn Electric Co., Pittsbargh.— Con«ohda<to».—
This company was formed under Pennsylvania laws in Dacember last with $H37,500 capital stock (but no bonds) as a
consolidation of the following:
Dawson Electric Light & Power Co., Unlontown Electric Light &
Power Co.. Electric Co. of Connellsvllle. BuUskln Elpotrlc Co Dunbar
Electric Co., Falrohance Electric Co., Masontown Electric Co., West
Fayette Electric Co.. East Huntingdon Electric Co., Hempfleld Electric 00. and Norih Huntingdon Electric Co.
William 8. Kuhn, President; Jacob Van Wagoner, VicePresident; Jesse H. Purdy, Sacretary, and John F. Cockbnrn
Secretary, all of Pittsburgh.
—
—
;
.
Willimantic (Conn.) Gas
years ending July 31
&
Electric Liglit
Co.—Earnings.
—For
Year—
Gross.
Net.
Year—
Gross.
Net.
1903 04
$19,853 1901-02
$54,863
$32,397
$12,366
1902-03
27,504
43,353
10.992
15,566 1900-01
Stock, $300,000; first mortgage gold 53 of 19 '3, authorized
$800,000, issued $288,000; «'a first and only lien." Tne mortgage was originally made to secure 4>^ p. c. bonds, but subsequently the rate was changed to 5 p. c. All the underlying
bonds have been paid oE. See description V. 76, p. 982.—V.
77 p. 2089.
Youngstown (0.) Iron, Sheet & Tnbe Co.—Steel Plant,
Etc Authorized Bond Zastce.- The shareholders on Mar. 28
authorizid the expenditure of a larga sum (che press dispatches say $2,500,000) fjr improvements and ad llcions, including steel plant, plate mill, etc. Arrangements, it is reported, have been made with Cleveland bankers to underwrite an issue of bonds, which will be offered to tha stock,
—
holders at par.— V. 75, p. 1209.
YauDgstown (0.) Telephoao Co. — First Dividend.— This
company, controlled by the Federal Telephone Co., made on
Feb. 15 its first dlstriouiion to the shareholders, paying a
8 p. c. semi-annual dividend on the 6 p. c preferred scock
and a 1 p. e. quarterly dividend on the common stock.
Oa D^c. 31. 19J4, there were outstanding $200,000 common
stock, *53,500 preferred stock (authorized iasua $2)0,000) and
$200,000 of 6 p. c. bonds. For year 1904 gross earulags were
$51,016, against $16,999 in 1903; net $25,113, against $20,713;
interest and other charges $14,161, against $13,797; balance,
surplus, $10,952, against $6,918. Dividend paid on preferred
stock (3 p. c.) July 1, 1904, $1,695. Total surplus Jan. 1,
1905, $22,822.- V. 79, p. 791.
THE CHRONICLE.
1240
ciffoxts
[Vol. lxxx.
and ^ocnmznts.
NEW YORK CENTRAL & HUDSON RIVER RAILROAD COMPANY.
THIRTY-SIXTH REPORT—FOR THE SIX MONTHS ENDED DECEMBER
To the Stockholders of the
New York
Central
d Hudson River
Railroad Company:
Owing to the change in the date for closing the fiscal year of
this company from June 30 to December 31, and the last report having been issued as of June 30, 1904, the Board of Directors herewith submits its report for the six months ended
December 31, 1904, \vith statements showing results for that
period and the financial condition of the company.
The report covers the operations of the system east of Buffalo, a total of 3,514.87 miles, as follows:
Miles.
Main
808.64
line
Proprietary lines
Lines
.ocSe
leased
'
Line operated under contract
Lines operated under trackage rights
?i IS
onron
205.39
Total road operated
3,514.87
report.]
The capital stoclt authorized to June 30, 1904, was. .$150,000,000 00
The amount authorized but not issued on that date
17,750,000 00
was
There was no additional stock issued during the past
six months
Total amount issued and outstanding on Decem. .
ber
$132,250,000 00
31, 1904
The funded debt outstanding on June
It
30, 1904, was.. $200,122,736
has been increased during the six months ended
December 31, 1904, as follows:
Four per cent gold debentures
SUMMARY OF FINANCIAL OPERATIONS AFFECTING
COME SIX MONTHS ENDED DECEMBER 31.
1904.
1903.
3,514.87 miles 3,482.24 miles
Earnings from
of 1904
20
26,500,000 00
Fractional portion of ZV2% gold mortgage bonds issued as premiums in addition to amount required
to retire principal of old securities bearing higher
rates of interest
*
31,
The Dunkirk, Allegheny Valley
1904
&
$
24,555.515 52
13,710,394 56
1,458,666 81
$
23,856,936 91
13,586,482 04
1,350,330 37
1,207,594 82
1,072,998 91
1,202,672 44
1,120,609 46
I.
95,235 62
92,387 71
I.
2,847 91
42,100,406 24
41,209,418 93
I.
890,987 31
sources
Expenses of Operation.
(66.10%)
For maintenance of way
and structures
5,228,426 00
For maintenance of equipment
6,050,74845
For conducting transporta-
698,578 61
123,912 52
108,336 44
1.
I.
I.
4,922 38
47,610 55
D.
(D2.04%)
(68.14%)
4,865,085 56
I.
363,340 44
6,448,933 78
D.
398,185 33
15,523,036 96
1,026,060 36
15,741,966 65
1,024,824 73
D.
I.
218,929 69
1,235 63
Totals
27,828,27177
construction (addition
betterments)
1,215,622 64
28,080,810 72
D.
252,538 95
600,759 51
I.
614,863 13
For general expenses
New
Total expenses
29,043,894 41
28,681,570 23
I,
362,324 18
Net earnings
13,056,51183
12,527,848 70
I
528,663 13
I.
226,446 00
Other Income.
Dividend on Lake Shore &
Michigan Southern stock
owned
1,811,568 00
1,585,122 00
336,286 00
336,286 00
Dividend on Michigan Central stock owned
Dividends and interest on
other securities
Interest on loans, notes and
sundry
654,008 52
582,810 87
I.
71,197 65
359,366 06
194,254 34
I.
165,111 72
3,161,22858
2,698,473 21
L
462,755 37
..16,217,740 41
15,226,32191
I.
991,418 50
49
32
00
46
00
50
I.
486,829
13,188
165,113
31,924
598
832
bills
Totals
12 50
Gross income
Total funded debt December
Increase
or Decrease.
operated.
Operation.
Totals
IN-
operated,
From freight traffic
From passenger traffic
From express traffic
From transportation of
mails
From rentals
From miscellaneous
tion
A statement showing in detail the miles of road and track
operated will be found upon pages 24 and 25. [See pamphlet
31, 1904.
$226,622,748 70
Pittsburg Railroad,
90.6
miles, is also leased by this company, but its mileage and operations are not included in this report.
Separate accounts are
kept and independent reports prepared in its behalf.
There has been continued progress, during the six months,
upon the enlargement of the Grand Central Terminal facilities
and upon the new power-houses and other work in connection
with the electrification of the company's lines to Croton and
The plans for the new Grand Central
Station building have been submitted to the city authorities
for approval.
A successful test of the company's first electric locomotive
North White Plains.
was made on November 12^ 1904.
Work upon terminal and yard improvements, elimination
Interest on funded debt
Rentals of leased lines
Taxes on real estate
Taxes on capital stock
4,016,877
4,746,843
1,509,113
380,149
1,558
66,420
Taxes on bonded debt
Taxes on gross earnings...
Railroad
Commissioners'
assessments
81
66
65
83
24
00
14,403 68
3,530,048
4,733,655
1,344,000
412,074
960
65,587
13,800 00
L
I.
D.
I.
L
32
34
65
63
24
50
I.
603 68
I.
118,938 20
Use
joint facilities: fixed interest basis
Interest on loans, notes and
*
118,938 20
payable
141,42817
43,064 73
I.
98,363 44
10,995,733 24
10,143,190 50
L
852,542 74
Net income
5,222,00717
Reserve for redemption of
debentures
of 1890
150,000 00
4%
5,083,13141
L
138,875 76
I.
138,875 76
I.
138,875 76
bills
Totals
150,000 00
of
grade crossings, etc., at various points on the system, continued
during the period covered by this report. Double tracking,
grade revision and extension of branch lines have increased the
efficiency of the Pennsylvania division.
On July 16, 1904, this company acquired a substantial interest in the local electric traction lines in Rome, Oneida and
Syracuse; also in the electric road of the Utica & Mohawk
Valley Railway Company, running between Little Falls and
Rome and passing through Herkimer, Mohawk, Ilion, Frankfort, Utica, Whitesboro, Oriskany and Stanwix.
It is planned
to connect the Utica & Mohawk Valley system with the Oneida
road, and from Oneida trackage rights have been granted over
the West Shore Railroad into Syracuse.
The Curwensville & Bower Railroad was opened for traffic
on July 18, 1904, and is operated under lease. This road, with
trackage rights over the Buff"alo, Rochester & Pittsburgh Railway, adds 22.07 miles to that section of the Pennsylvania division in the bituminous coal territory and completes the low
grade line between the Indiana and Cambria County coal fields
and Avis. The Cherry Tree & Dixonville Railroad has also
been completed and will be used jointly with the Pennsylvania
Railroad Company to handle the traffic from the mines of
Indiana County.
On September 1, 1904, there matured $4,507,000 of this
company's 5 per cent debenture certificates of 1884 outstanding
on that date and $639,000 of the 5 per cent debenture certificates of 1889. There wore issued in lieu thereof $5,140,000 of
the 3% per cent gold mortgage bonds of The New York Central
& Hudson River Railroad Company. This ^vill effect an annual
saving in interest of $77,200.
On December 22, 1904, the New York & Ottawa Railroad
was purchased in the interest of this company at foreclosure
sale.
The property acquired included the road from Tupper
Lake, N. Y., to the St. Lawrence River; the entire capital
stock of the Ottawa & New York Railway Company, whose line
extends through ilio Province of Ontario from Cornwall to
Ottawa; and ownership of the bridge over the St. Lawrence
River connecting the New York & Ottawa Railroad and the
Ottawa & New York Railway. The length of the entire line
from Tupper Lake to Otiawa is 128.4 miles.
Balance
available
for
dividend
Cash dividends, two, aggregating 2^ per cent
Surplus
5,072,00717
4,933,13141
3,306,250 00
3,306,250 00
1,765,75717
1,626,88141
D.
From, the surplus for the six months
there should be deducted:
Special improvement fund for new
equipment and betterments
1,500,000
Sundry uncollectible charges aJid reduction in value of assets
258,143
Amount
to credit of Profit
and Loss, June
1,765,757 17
00
08
1,758,143 08
7,614 09
15,911,253 46
30, 1904
15,918,867 55
Deduct:
Discount and commissions account sale of
4 per cent debentures of 1904
Balance, December
31,
1904
$26,500,000.00
1,325,000 00
14,593,867 55
•Included in expenses of operation in 1903.
Tlie gross earnings were $42,100,406.24, an increase of $890,987.31 over tlie corresponding period of the previous j'car.
The freight earnings were $24,555,515.52, an increase of
$098,578.61. This was due to an increased movement of lowclass commodities and a slight increase in the average distance
each ton was carried.
The passenger earnings were $13,710,394.56, an increase of
$123,912.52, due to an improvement in long-haul interline business.
The express
$108,336.44.
The
earnings
were $1,458,666.81, an increase of
exj)ensc3 of operation
were $27,828,271.77, a decrease of
$252,538.95.
Maintenance of way and structures showed an increase of
$363,340.44, due to heavier expenditures for general repairs to
roadway and track and for renewals of ties.
Maintenance of equipment decreased $398,185.33; lower repair and renewal charges on account of cars and marine equipment more than offsetting increases in similar charges on account of locomotives.
Ape.
1,
THE CHRONICLE.
1905.]
Conducting transportation decreased $218,929.69.
fluctuations were as follows:
"Fuel for locomotives" showed a decrease of $166,792.30, due
to lower average cost per ton.
"Per diem-mileage" account increased $169,844.13, due to
the greater number of cars handled and to the difficulty in obtaining prompt return of New York Central equipment from
The principal
other roads.
"Kents for tracks, yards and terminals" decreased $166,709.due to the fact that payments for use of joint
a fixed interest basis covered by this account in
1903 were included in first charges in 1904.
The net earnings were $13,056,511.83, an increase of $528,-
17, mainly
facilities on
1241
YONKERS.—For
consist of
expenditures on account of improvements to
station, mobilizing yard, etc., $68,-
a new passenger
GARRISON.—For
change of alinement at tower
No
of Garrison, $22,935.73.
MOHAWK
43.
south
DIVISION.
SCHENECTADY.- For new brick freight station, reconstruction of tracks and abolition of grade crossings, $71,877 98
For
expenditures in connection with freight detour line including
double track from Carman to Central Junction, $22,228 67
For extension of freight house, new paving
AMSTERDAM.—
curbing and track work, $14,674.86.
MINOA.—For expenditures on account of a new passenger
station and freight facilities, 20-stall engine house, turntable,
coaling plant, pumping station, signal tower
and freight yard of 26 tracks, $273,577.89.
and interlocking
plEUit,
663.13.
Other income was $3,161,228.58, an increase of $462,755.37,
WESTERN DIVISION.
mainly due to additional dividend receipts on Lake Shore &
BUFFALO.— For expenditures on account of the elimination of
Michigan Southern Railway stock held by the company and
increased revenue from other securities held or acquired during grade crossings, $129,869.09.
AUBURN.^For a new freight terminal, passenger station and
the six months covered by this report.
elimination of grade crossings, $5,001.00.
DOUBLE TRACKING.— For double tracking, Lehigh Valley
First charges, $10,995,733.24, increased $852,542.74, the
principal items of increase being interest on new debentures of Junction to North Tonawanda. $12,488.83.
1904, heavier proportionate charges on account of taxes and
RIVER DIVISION.
payments for use of joint facilities on fixed interest basis
WEEHAWKEN.—For account of terminal improvements, inwhich were charged to expenses in 1903.
cluding new pier sheds, bulkheads, ferry slips, shops, power
The profit from operation for the six months, after payment plant, yards and grain elevator, $392,551.18.
SEA WALLS.—For expenditures on account of sea walls along
of 2% per cent in dividends upon the capital stock, was $1,765,-
From this sum the Board of Directors authorized the
deduction of $1,500,000 as a special fund for new equipment
and betterments. The balance, $265,757.17, has been carried to
the credit of Income Account.
757.17.
There was expended for improvements to roadway and
structures and for the renewal and strengthening of
bridges, etc., and charged to expenses
$1,215,622
There was expended for new locomotives and charged
against the special fund set aside for new equipment
and betterments
There was expended for additions to property and
charged to cost of road and equipment [see page —
pamphlet reportl
And for construction and improvements on leased lines
[see pamphlet report]
64
1,223,432 26
the
Hudson
River,
$18,743.47."
ESOPUS.—For new
station
and track changes,
$11,571.43.
PENNSYLVANIA DIVISION.
GRADE REVISION AND DOUBLE TRACK.—For
revision of
grades between Geneva and Beaver Dams and at Tioga, $68,257.34.
For expenditures on account of double track from Barnes
to Wentz; from Leach to Tiadaghton, including March Creek
grade revision; from Corning to the north end of Hollon yard;
and for double tracking the bridge over the Susquehanna River
at Browns,
$274,093.89.
EXTENSION OP SIDINGS.— For work
of this character at
Ramsey, Barber, Lawrenceville and Presho, $30,147.56.
CORNING.— For new storage tracks north of Corning, $13,431.04.
1,657,358 07
AVIS (OAK GROVE).— For expenditures on account of yards
and shops, $12,964.62.
2,486,398 47
CURWENSVILLB & BOWER RAILROAD.— For account of
construction of 15.77 miles of new line between Curwensville
$6,582,811 44
Making a total for the six months of
and Bower, to complete low grade road between the Indiana and
During the six months ended December 31, 1904, some of the Cambria County coal fields and Avis, $118,385.58.
CLEARFIELD SOUTHERN RAILROAD.— For account of reprincipal items of expenditure for improvements were as construction of old line and extension to Irvona, $216,237.61.
Pine,
follows
BOSTON AND ALBANY RAILROAD.
EAST BOSTON.— There was expended on account
East Boston terminal, $74,666.68.
EQUIPMENT.-There was charged against the
1
EXPENDITURES INCIDENT TO THE INSTALLATION OP
POWER
ELECTRICITY.
HOUSES, ENGINEERING, ETC.— For
work of electriflcation, including power houses
and Yonkers, $382,397.70.
the general
at Port Morris
GRAND CENTRAL TERMINAL IMPROVEMENT.— For
work
of excavation
and preparation
for the
new depressed
the
yard,
$407,497.46.
POUR-TRACKING.^Between Mott Haven and Croton and between Woodlawn and North White Plains, $83,907.20.
PORT MORRIS BRANCH.—For double tracking, depression
work and elimination of grade crossings, $127,343.57.
MARBLE HILL CUT-OFF.— For new right of way and shortening of the line of the Spuyten Duyvil and Port Morris Railroad, by a cut-off near Kingsbridge, $81,969.14.
ELIMINATION OP GRADE CROSSINGS AND STATION IMPROVEMENTS.— At High Bridge, Morris Heights and Fordham
Hei°'hts
of docks at
Boston and
Albany Railroad Company, for new equipment, the sum of
$238,595.11.
EQUIPMENT.
In addition to large charges against expenses of operation,
mainly for renewals, against the special fund, and against the
Boston & Albany Railroad Company as above, there has been
expended for new equipment to meet the requirements of traffic,
[See
the sum of $902,982.60, as shown in detail on page 12.
pamphlet report.]
W. H. Newman,
Chauncey M. Depew, Chairman of the Board.
President.
$5,914.90.
CROTON TERMINAL.— On
change of steam, and
account of facilities
electric traction, $3,177.83.
HARLEM
for
inter-
CAPITALIZATION.
DIVISION.
CAPITAL STOCK.
PORT MORRIS.— For
miles long,
a new gas house 8,nd pipe line, three Number of shares issued
connecting with holders in Mott Haven yard, $93,- Consolidation certificates not yet converted
1,322,451
49
337.82.
WOODLAWN.—For a new station and elimination of grade
$33,235.66.
DOUBLE TRACKING.— For extension of double track from
crossing,
Mount Kisco
to Golden's Bridge, $86,161.41.
WATERSHED.^For changing the line and grade of
a portion of the Harlem m.ain line, located within the flow of
CROTON
the Croton watershed,
$75,123.19.
HUDSON DIVISION.
NEW YORK & PUTNAM RAILROAD.— For
bridge at Croton Lake,
reconstruction of
number of shares outstanding
of shares authorized
Total-
Number
1,322,500
1,500,000
$100
132,245,100
4,900
Par value per share
Total par value issued and outstanding
Consolidation certificates outstanding
Total par value outstanding
Total par value authorized
Dividend for the six months, 2% per cent.
Amount of capital stock per mile of road owned
$132,250,000
150,000,000
(808.64 miles),
$163,546.20.
$85,248.53.
FUNDED DEBT.
Amount of
Date of
Bonds—
Gold mortgage
Gold debentures of
Issue.
Class of
1890
Extended debt certificates
Gold bonds. Lake Shore collateral
Gold bonds, Michigan Central collateral
Debenture bonds of 1900
Gold debentures
1897
1890
1853
1898
1898
1900
1904
Date of
Authorized
Maturity.
Issue.
July
1,
1991
June
1,
1905
1905
May
1,
Feb. 1, 199?
Feb. 1,199^
July
May
1,
1,
200O
1934
$100,000,000
15,000,000
6,450,000
100,000,000
21,550,000
5,500,000
50,000,000
per mile of road
owned
$76,036,403
5,094,000
3,577,500
90,578,400
19,336,445
5,500,000
26,500,000
70
00
00
00
00
00
00
(808.64 miles),
SUMMARY OF FIRST CHARGES.
Taxes
joint facilities; fixed Interest basis
Interest on loans, notes and bills payable
first
charges
Payable October
of First Charges.
Interest on funded debt
Rentals of leased lines
Total
4%
4%
First
Jan.
June
3y2%
31^%
8^^%
4%
Days of
& July
& Dec.
May & Nov.
Feb. & Aug.
Feb. & Aug.
Jan. & July
May & Nov.
excluding Lake Shore sind Michigan Central collateral bonds and debentures of
•Issued by the New York Central Railroad Company; original rate of interest, six per cent; extended
at five per cent; further extended May 1, 1893, for twelve years at four per cent.
Use
3y2%
Payable on the
$226,622,748 70
1900, $137,524.61.
Summary
Rate of
Interest.
gtandine.
Total amount of funded debt
Amount
Amount issued
and now Out-
$4,016,877
4,746,843
1,971,645
118,938
141,428
81
66
40
20
17
$10,995,733 24
15,
May
DIVIDENDS.
1904, 1^% on 1,322,500
1,
1883,
for ten years
shares of
capital stock
Payable January
$1,653,125 00
16,
1905,
1»4% on
1,322,500
shares of
capital stock
1,653,125 00
Total (2^%)
$3,306,25000
THE CHRONICLE.
1242
CONDENSED GENERAL, BALANCE SHEET, DEC. 31,
[Vol lxxx.
PRODUCTS OP ANIMALS.
1904.
1904.
Tons.
Assets.
Cost of road and equipment:
Cost of road
Cost of equipment
$145,859,780 47
50,565,445 45
$196,425,225 92
Advances for leased
and equipment:
lines construction
$3,557,373 54
7,749,834 79
New York & Harlem Railroad
Rome, Watertown & Ogdensburg Railroad
Syracuse, Geneva & Corning Railway..
539,181
214,073
482,607
247,031
I.
ucts
Poultry,
250,981
44,996
41,442
55,565
112,076
244,032
41,481
36,603
51,390
99,379
I.
2,161,165
4,632,910
225,923
635,081
1,882,949
4,477,833
179,762
435,034
I.
769,684
818,448
game and
fish
Hides and leather
Milk
876,36216
566,986
566,756
336,078
686,380
328,968
Curwens\-ille & Bower Railroad
Clearfield Southern Railroad
Boston & Albany Railroad
Other leased lines
D.
I.
I.
I.
I.
56,514
32,958
6,949
3,515
4,839
4,175
12,697
PRODUCTS OF MINES.
58,653 87
750,015 58
Pine Creek Railwav
Beech Creek Railroad
Tcorease
or Becr^ase.
Live stock
Dressed meats
Other packing house prod-
Wool
"West Shore Railroad
1903.
Tons.
Anthracite coal
47
Bituminous coal
Coke
06
52
32
97
Ores
Stone, sand
and other
I.
I.
I.
278,216
155,077
46,161
200,047
like
articles
D.
48,764
I.
351,208
15,477,410 28
PRODUCTS OF FOREST.
owned:
Securities
Stock in sundry companies
Bonds of sundry companies
$127,184,696 88
8,621,030 29
Lumber
1,507,367
1,156,159
135,805,727 17
Other property:
Real estate, etc., not used in operation
of the road
Hudson River Bridges at Albany
MANUFACTURES.
Petroleum and other
Sugar
$2,945,105 22
2,256,363 36
5,201,468 58
Advances other than construction:
New York & Putnam Railroad Co
Buffalo, Thousand Islands & Portland
Railroad Co
Syracuse, Geneva & Corning- Railway
Co
Other companies
$106,178 99
Bar and sheet metal
Cement, brick and lime....
11,437 85
289,248 27
Agricultural implements
Fuel and supplies
5,313,07917
Current Assets.
$13,371,115
9,771,895
5,487,634
6,262,354
Traffic balances receivable
Sundry collectible accounts
Nava 1 stores
Iron: pig and bloom
Iron and steel rails
Other castings and machinery
150,000 00
556,865 11
Cash charged Trea.surer
Loans and bills receivable
oils...
Wagons,
carriages,
61
44
50
21
etc
ture
MERCHANDISE
2,558,325 97
companies
lessor
$402,137,508 29
Liabilities.
Gold mortgage bonds
Debenture certificates of
$76,036,403
1890
5,094,000
Extended debt certificates
3,577,500
Gold bonds. Lake Shore collateral
90,578,400
Gold bonds, Michigan Central collateral 19,336,445
„
Bonds and mortgages
,
Current
Loans and
bills
$7,235,745
5,090,000
2,000,459
5,834,530
22,564
1905
& Adirondack Railway Co
Brook Railway Co
Boston & Albany Railway Co
Fall
23,154,066 28
$59,349
25,402
711,484
1,257,208
37
44
19,658,749
18,690,878
482
I.
7,999
D.
L
D.
314
6,441
46,802
_
D.
.„_„„
I.
967,871
165,677
or Decrease.
1904.
1903.
Tons.
Tons.
22,590,762
784,327,765
22,272,524
757,155,181
Tons.
D.
I.
I.
I.
I.
84,215
137,060
265,393
318,238
27,172,584
TRAIN MILEAGE.
Passenger trains
trains
Freight engines
Passenger engines
Switching engines
Work
engines
Total engine mileage....
66
55
2,053,445 02
276 567 74
.
and
I.
9,527,756
11,679,284
101,948
1,463,860
9,518,025
11,722,368
206,033
1,436,082
D.
D.
I.
9,731
43,084
104,085
26,878
22,772,848*
22,883,408
D.
110,560
I.
ENGINE MILEAGE.
.
Profit
1,388,025
Total number of passengers carried
Passengers carried one mile
10
1,653425 00
.
^
o
Special improvement ^fund
Securities held in trust for lessor companies (per
contra)
,
1,222,348
—
Total train mileage
Accounts with lessor companies:
Carthage
66,847
1,823,202
1,737,179
14,815,633
5,719,712
Work
36
00
45
22
51,458 71
4,790 00
1,261,393 44
Walkill Valley Railroad Co
73,288
1,776,400
1,652,964
14,952,693
5,985,105
Mixed trains
payable
Traffic balances payable
Interest and rentals accrued
Interest unclaimed
Dividend payable January 16,
Dividends unclaimed
Bonds past due
Sundry accounts payable
.
Interline passengers
Freight trains
$359,022,748 70
liabilities:
supplies
38,351
128,227
45.993
10,499
80,238
PASSENGERS CARRIED AND TICKET MILEAGE.
226,622,748 70
150,000 00
payable
Total capitalization
Wages and
Total
Local passengers
Commutation passengers
70
00
00
00
00
5,.TO0,0OO 00
26,500,000 00
1900
1904
46,350
127,913
I.
D.
Increase
debt:
Debentures of
Debentures of
Other commodities not previously mentioned
$132,245,100 00
4,900 00
$132,250,000 00
Funded
I.
I.
(per
3,036,813 00
Capital stock:
Capital stock
Consolidation certificates
408,378
311,073
556,956
32,389
I.
I.
16,395
38,923
15,051
2,963
72,853
2,869,59333
1890
from
454,371
300,574
637,194
32,871
I.
D.
MISCELLANEOUS.
34,892,999 76
acquired
194,355
263,108
34,172
234,110
21,847
tools,
Wines, liquors ajid beers...
Household goods and furni-
Items in suspense
Sinking fund for redemption of gold debentures of
Securities
contra)
...
210,750
224,185
49,223
237,073
94,700
3,036,813 00
14,593,867 55
loss
$402,137,508 29
TRAFFIC STATISTICS.
SIX MONTHS ENDED DECEMBER 31.
FREIGHT CARRIED AND TON MILEAGE.
12,015,757
13,113,424
6,070,248
1,498,554
12,406,994
13,231,676
6,001.387
1,466,683
D.
D.
I.
391,237
118.252
68,861
31,871
32,697,983
33,106,740
D.
408,757
I.
CAR MILEAGE.
Freight cars
Caboose cars
Passenger cars
Work
cars
Total car mileage
349,652,858
9,545,295
71,272,690
4,972,014
346,972,670
9,542,424
69.238,621
4,189,897
435,443,457
429,943,612
2,680,188
2,871
2.034,069
782.717
I.
5,499,845
FREIGHT RESULTS.
Earnings from transportation
$24,267,376 63
$23,634,55108
I.
$632,825 55
288,138 89
222,385 83
I.
65,753 06
I.
$098,578 61
cts. 0.15
Earnings from miscellaneous sources
IncrG3,s©
_,
Tons
,
of
-
.
^..
freight
.
revenue
Tons of company's
Total
number
^^^*-
earning
freight.
of
19,658,749
3,254,166
1903.
18,690,878
3,261,944
or Decrease.
I.
D.
967,871
7,778
tons
carried
Tons carried one mile
Tons of company's freight
carried one mile
Total number of tons
carried one mile
Total freight earnings.. $24,555,515
Earnings per ton per mile..
Earnings per train mile
Earnings per mile of road
operated in freight sirtrackage included...
Density of revenue freight
e tons carried
tr.afflc (i.
one milo per mile of road)
Average number of tons of
revenue earning freiglit
carried per train milo
vice;
22,912,915
3,785,997,679
584,509,495
4,370,507,174
21,952,822
I.
960,093
314,941
I.
191,082,738
3, .594,
627,954,334
D.
4,222,269,275
I.
43,444,839
148,237,899
Average number of tons of
all freight (including company's) c-iiried per train
mile
Average number of miles
one ton carried
DESCRIPTION OF FREIGHT MOVED.
PRODUCTS OF AGRICULTURE.
Grain
Flour
Other mill products
Hay
Tobacco
Cotton
Fruit and vegetables
1003.
Tons.
Tons.
or Decrease.
Tons.
1,309,445
482,725
467,499
224,042
10,200
1,267,3,57
D.
.')57,984
D.
1.'')5,327
I.
239, 429
D.
D.
.')9.r,55
44,765
461,654
627,599
10,.''..-i4
I.
I.
157,912
75,259
12,172
15,.387
7,016 38
D.
I.
$012
6,880 93
I.
135 45
1,081,794
1,036,689
I.
45,105
39S
370
I.
28
459
434
I.
25
103
192
I.
1
$13,254,355 31
I.
$103,968 47
Earnings from passengers.. $13,358,323 78
Earnings from excess baggape
110,229 97
Earnings from miscellane241,840 81
ous .sources
,^54
14,790
165,945
$23,856,936 91
cts. 0.664
$2 43
PASSENGER RESULTS.
Increase
1904.
52
cts. 0.C49
$2 55
Total
ings
passenger
116,855 96
D.
215,270 77
I.
26,570 04
$13,586,482 04
I.
$123,912 52
6,625 99
earn$13,710,394 56
Apr.
1,
CARS IN FREIGHT SERVICE
Increase
Earnings per passenger per
or Decrease.
1903.
L904.
D.
cts. 1.70
cts. 1.75
Earnings per train mile....
Earnings per tram mile*...
Earnings per mile of road
operated in passenger ser-
$119
138
$117
I.
135
I.
cts. 0.05
$0 02
03
vice; trackage included*..
Density of passenger traffic
passengers carried
e.
(i.
one mile per mile of road)
Average number of passen-
$5,015 85
$4,975 56
I.
40 29
240,224
233,420
I.
6,804
69
66
I.
3
35
34
I.
mile
,
gers per train mile
Average number of miles
one passenger carried
1
Box
cars
Flat cars, common
Flat cars, steel
Stock cars
Coal and coke cars
Refrigerator and produce cars..
Caboose cars
Totals
Total
cars
capacity
536
940
299
16
562
948
281
16
Total locomotives in service
1,791
1,807
Average mileage per engine.
18,257
tons
29.72
tons
29.12
tons
5,672
miles
5,599
miles
cars
miles
18,321
cts. 5.926
cts. 4.980
$154
$170
cts. 8.171
cts. 8.577
957
Smoking cars
190
199
100
23
17
484
18
170
cars..
Dining cars
Buffet and caf6 cars
Mail, express and baggage cars
and pay cars
Other cars in passenger service
port cars
Other road cars
capacity
725
755
1,027
733
914
2,555
2,435
45
18
MARINE DEPARTMENT.
miles
Tugs-
Wood
2
18
Steel
Wood
4
Steel
2
10
Steam hoisting barges
965
195
198
107
24
18
480
16
173
Total capacity
hoisting barges
Total capacity
Covered barges
Total capacity
4,100
tons
Hand
3
18
4,100
2^700
"
19,100
"
2,750
"
20,600
"
*'
76
76
19,100
((
6
5
Total capacity
Grain boats
Total capacity
Car
tons
16
2,700
Open deck scows
2,176
4
2
10
16
2,750
40
40
20,600
it
39
floats
Total capacity
seating
711
44
18
Freight propellers
2.158
Totals
cts. 0.920
cts. 0.855
Totals
Passenger coaches
Total
1,831,580
Steam wrecking cranes
Cinder, push, gas and oil trans-
CARS IN PASSENGER SERVICE
Officers'
tons
Ballast cars
Derrick cars
1903.
Immigrant and excursion
63,672
CARS IN COMPANY'S SERVICE,
1904.
Combination cars
63,330
258
1,226
18,780
895
783
1,859,257
cars
LOCOMOTIVES.
Cost of repairs (excluding
renewals) per engine mile
Cost of fuel per ton
Cost of fuel per engine mile
37,561
4,169
Average capacity of freight
OWNED AND LEASED.
engines, etc
1903.
37,281
3,919
258
1,179
19,035
89o
763
freight
of
Cost of repairs (excluding
renewals) per freight car
mile
EQUIPMENT,
For passenger service
For freigiit service
For switching service
1904.
Average mileage of freight
Including mail and express earnings.
Dummy
1243
THE CHRONICLE.
1905.]
461
39
cars
455
cars
Ferryboats-
of
revenue passenger cars
Average mileage per passen-
91,514
ger car
Cost of repairs
per
renewals)
car mile
23,386
92,725
miles
22,832
Side wheel, single deck
5
5
Screw, double deck
2
2
219
220
$1,995,593 29
$1,994,162 40
miles
Total floating equipment....
(excluding
passenger
cts. 0.999
cts. 1.169
Total value of
fleet
V/NDALIA RAILROAD COMPANY.
APPLICATION TO
NEW YORK bTOCK EXCHANGE TO
CAPITAL STCCK.
Pittsburgh, Pa., March 14, 1905.
The Vandalia Railroad Company hereby makes applicatioa
for the listing on the New York Stock Exchan;t e of $14,649,50^)
The proper corporate name of this
the Vandalia Railroad Company.
It was
created under the laws of Indiana and Illinois bv the conThe Terre
solidation of the following-named Companies
Haute & Indianapolis Railroad Company, St. Louis Van
dalia & Terre Haute Railroad Company, Terre Haute &
of its Capital Ptock.
Company
is
:
LIST
THE CAPITAL STOCK.
At the hearing on December 23, 1904, Judge Anderson said
that the only question involved in his opinion was the right
of the Terre Haute & Indianapolis RR. Co. to consolidate in
the manner set forth, and he believed that the Railroad
Companies had the right to do under the law, and that he
would not make his temporary restraining order permanent
as asked for, but at the urgent request of the Counsel for the
complainants he gave them until December 2S, 19l)4, to cite
additional authorities to sustain their allegations.
At the hearing on Decemrer 28, 1904 Judge Anderson formally denied the injunction against the proposed consolida-
Logansport Railway Company, Logansp ^rt & Toledo Rail- tion.
This Agreement of Consolidation, executed and ratified as
way Company and Indianapolis & Vincennes Railroad
aforesaid,
was filed in the oflace of the Secretary of the State
Company.
The Agreement of Consolidation was entered into by the of Indiana on December 30, and in the office of the SecreDirectors of the several constituent Companies on the first tary of State of Illinois on December 31, 1904.
Thereupon the Secretary of State of Indiana issued the
day of .^fovember, 1904. This Agreement was ratified by
the Stockholders of the several constituent Companies at following:
separate meetings thereof, held as follows
State of Indiana,
S3.
Office of Secretary of State }
1904
Indianapolis
RR.
14,
Co
Held December
The Terre Haute &
"
"
^5, 1904
St. Louis Vandalia & Terre Haute RB. Co
T7/ie»-eas, Articles of Incorporation duly slgnpd, showing a Capital
"
"
14,1004
Terre Haute & Logansport Ry. Co.
Stock of $2.5,000,000, having been tiled in the office of the Secretary
"
"
14,1904
Toledo
Ry.
Co
Logansport &
tUa 30th day of December, A. D.
•'
"
14,1904 of State of the State of Indiana on
Indianapolis & Vincennes RR. Co
1904, for the consolidation of the Terre Hsutft & Indianapolis RailTerre Haute Railroad Company,
On December 13, 1904, application was made by certain road Company, St. Louis Vandalia <fe Company,
Lotjansport
Toledo
Railway
Stockholders of the Perre Haute & Indianapolis RR. Co. Terre Haute & Logansport
Indianapolis & Viuceanes Railroad Company,
Company,
Railway
to Judge Andersen in the Circuit Court of the United States
under and in accordance with the pro /isions of an Act entitled "An
at Indianapolis for a preliminary injunction to prevent the
Act to authorize Railroad Companies to Consolidate," In force Janu
consolidation of the Terre Haute & Indianapolis RR. Co. ary '.^5. 1853, and the various Acts amendatory thereof and supplewith the other Companies named into the Vandalia RR. Co. mentary thereto
and an order was made fixing December 23, 1904. as the date
Now, therefore, I, Daniel E. Storms, Secretary of State of the State
for hearing the case on its merits, and the Judge made a
ot Indiana, by virtue of 1 he powers and duties vested In me bylaw,
preliminary order restraining the Officers and Directors from
do hereby certify that said Company is a body politic and corporate,
executing the Agreement of Consolidation, bat said that in perpetuity, authorized and empowered by the laws of the State of
this order should not interfere with the holding of the spec- Indiana to transact business as such.
ial meeting of the Stockholders of the Company called for
In Witness Whereof, I ha,ye hereunto set my hand and alH.x:ed the
December 14, 1904, to vote upon the question of coasolidaseal
of the State of Indiana, at Indianapolis, this 30th day of Decern
tion, or prevent them from voting upon the same, and fuither
ber, A. D. 1904.
directed tht.t a report be made to him by the Ofiicers of the
meeting showing the vote in detail, which was duly furDanibl K. Stobms, Secretary of State.
nished in accordance with his order.
[Indiana S'ate Seal.]
:
<fe
:
THE CHRONICLE.
1244
The railway
operation, and
of this
its
route
company
is as
is fully completed
follows:
and
in
" Beginning In the City of Indianapolis, In the County of Marlon,
State of Indiana, and extending In a westerly direction through the
Counties of Marlon, Hendricks, Putnam, Clay and Vigo, to the State
line between Indiana and Illinois, Including herein coal branches aggregating in leneth about 20 miles situated In Clay and Vigo Counties, State of Indiana; the foregoing is what was formerly known as
The Terre Haute & Indianapolis RR.; also from the said State line
through the Counties of Clark, Cumberland. Effingham, Fayette,
Bon 1, Madison and St. Clair, to Its western terminus In East St. Louis,
eald County of St. Clalr, State of Illinois; the foregoing Is what was
formerly known as the St. Lonls Vandalla A Terre Haute RR.; also
from the City of Terre Haute, Vigo County, State of Indiana, In a
northeasterly direction through the Counties of Vigo. Parke. Montgomery, Boone. Clinton, Carroll, Cass, Fulton, Marshall and St. Joseph, Into the City of South Bend, In eald St. Joseph County. State of
Indiana; the foregoing Is what was formerly known as the Terre
Haute & Logan sport Ry.; also from the City of Logansport, Cass
County, State of Indiana, in a northeasterly direction through the
Counties of Cass, Miami, vV abash, Kosciusko, Whltlej Allen. Noble
and DeKalb, to the town of Butler, in the said County of DeKalb,
State of Indiana; the foregoing is what was formerly known as the
Logansport
Toledo Ry.; also from the City of Indianapolis, Marlon
County, State of Indiana, In a southwesterly direction through the
Counties of Marlon, Hendricks, Morgan, O wen, Greene, Daviess and
Knox, to the City of Vinoennes, In said Oc^unty of Knox, State of In
diana, including herein a certain branch with an aggregate total
length of about 16 miles, and known as the Greene County Coal
Branch, located in Greene and Sullivan Counties, all in tbe State of
Indiana; the for Tier is what was formerly known as the Indianapolis
,
&
& Vtncennes RR."
The
total miles of road,
completed and in operation, are
as follows:
(C08-52 miles
owned and
(22-31
mUes
leased.)
Secondtraok
Branches
Sidings
TotaL
18-93
35-93
358'40
"
"
"
1,044-09
"
The gauge of the entire system is four feet eight and oneand the tracks are laid with steel rails.
The equipment belonging to the Vandalia RR. Co. is as
half inches
follows
Passenger locomotives, 43 freight locomotives,
108; shifting locomotives, 47; total, 197.
Car equipment: Passenger cars, 95; baggage cars, 23; express cars, 4; postal cars, 18; business cars, 1; box cars,
1,861; refrigerator cars, 115; farniture cars, 238; stock cars,
:
gondola cars, 2,869; flat cars, 380; caboose cars, 84;
maintenance of way cars, 198; tool and block cars, 31;
wreck cars, 12; miscellaneous, derrick, ballast, steam shovel
cars, etc.; total, 6,267 cars.
The Agreement of Consolidation provides that the funded
debt of the Vandalia RR. Co. shall consist of an authorized
issue of $25,000,000 Mortgage Bonds, of which $5,927,000
v?ill be used to pay off matured bonds and outstanding
Certificates of Indebtedness of constituent Companies, as
follows
Mortgage Bonds of St. L. V. & T. H. RR. Co., matured
January 1. 1897
$1,896,000
Second Mortgage Bonds of St. L. V. & T. H. RR. Co., matur-
First
1,
18H8
Certificates of Indebtedness of the T. H.
2,600,000
1,431,000
& L. Ry. Co
$4,700,000 will be reserved to pay off Mortgage indebtedness of constituent Companies not yet matured, as follows:
Mtg. Five Per Cent
<fe I. BR. Co. First Consolidated
Bonds, due July 1,1925
$1,900,000
T. H. & I. RR. Co. Seoond Consolidated Mortgage Bonds,
due July 1, 1925
600,000
T. H. & L. Ry. Co. First Mortgage Six Per Cent Bonds, due
January 1, 1910
500,000
L & V RR. Co. First Mortgage Seven Per Cent Bonds, due
February 1, 1908
1,700,000
T. H.
Leaving $14,373,000 to be issued from time to time under the
authority of the Board of Directors for improvement of the
&
the lessee.
The authorized capital stock of the Vandalia RR. Co. is
$25,000,000, consisting of 250,000 shares of a par value of
$100 each, and shall be issued in exchange for the outstanding capital stock and indebtedness of the constituent companies on the following basis:
1.
To the holders of the stock of the Terre Haute
Indianapolis RR. Co. (39,763 shares) 6 shares of new
<fe
stock, par $100. for 4 shares of the old p.*r $50, say.. $5,964,450
of the Preferred Stock of the St. Louis
Vandalia & Terre Haute RR. Co (15,447 shares) 1 ^lo
shares of new stock for 1 share of the old, say
2,162,580
3. To the holders of the Common Stock of the St. Louis
Vandalia «6 Terre Haute RR. Co. (23.793-5 s shares)
2 shares of new stock for 1 share of the old, say.
4,758,716
4. To the holders of the stock of the Terre Haute
Logansport Ry. Co. (20,000 shares) 7,q of 1 share of new
stock for 1 share of the old, say
1,400,000
5. To the holders of tbe present Indebtedness of the Lo-
2.
To the holders
&
new
of
6.
H. cS /. BR.
$1,189,202 50
656,857 85
155,966 86
43,417 65
Earnlns^s from freight
Earnin^H from passengers..
Earnings from mail
Earnings from express
Earnings from miscellaneous
97,7 06
70
H.
$1,473,358 20
1,269.3^0 79
308,75H 55
86,210 94
12,928 80
SI.
L. V.
«fi
T.
& Toledo Ry. Co.
7. It is
1.
&
ness ($3,100,000) of the Indianapolis
Vlncennes KR. Co., $1,400,00018 to be
delivered up in consideration of 8,000
shares of stock of the new consoli-
dated Company
.. $800,000
That all the stock of the Indianapolis &
Vlncennes RR. Co., to wit, «1 402,000,
shall be delivered up in consideration or
2.
1 share of stock of the
Company
800,100
to $300,100. together with the outstanding $1,700,000 First Mortgage Bonds
due February 1, 1903, shall represent
the full value of the property and franchises of the Indianapolis
Vinoennes
Co.
8. To refund to the Pittsburgh Cincinnati Chicago
St.
Louis Ry. Co., account of betterments and additions
to
the
Louis
made
St.
Vandalia & Terre Haute RR.
and charged to expenses, of which the Pi tsburgh
Cincinnati Chicago & St. Louis Ry. Co. paid flvesevenths, say
,
541,600
3.
That these 2 issues of stock, amounting
&
RR
&
Total
$16,127,546
Less equivalent in new stock of the Preferred and
ComoiOn Stock of the St. Louis Vandalia & Terre
Hante RR. Co. held in treasury of the Terre Haute
Indianapolis RR. Co
1,478,000
&
$14,649,546
of the new
Company to be issued by the directors for Improvement of the Company's property, the purchase and
The remainder of the authorized stock
construction of additional railways and for other
lawful purposes as they may from time to time deter-
mine
10,350,454
Total authorized issue........
The amount of Capital Stock which
March
4,
1905,
RR. CO.
FOR THE YEAR
$1,205,803 89
$211,840 21
list
at
L.
<£ T.
By.
1904
WERE AS FOLLOWS:
BB.
$647,679 95
I. c6 V.
193,997 29
15,50148
lO,780 73
15,554 42
Total.
$4,322,430
2,471,486
310,821
167,597
132,610
94
34
06
f>0
47
$883,513 87
$7,594,946 31
64
96
92
52
23
1,334,132 47
3,311,102 t3
133,961 86
$205,220 72
$763,635 27
$5,818,047 80
$174,146 37
$6,619 49
$119,878 60
$1,776,898 51
289,916 35
$1,000,266 49
$174,146 37
$6,619 49
$119,878 60
$2,066,814 86
$179,840 00
$30,000 00
56,006 65
9,000 00
$168,000 00
$64,000 00
$502,840 00
120,006 65
9,000 00
168,223 21
25,365 78
$1,031,657 52
Net earnings— Operation
Other Income
$516,944 34
*248,959 57
$959,309 71
140,956 78
Gross Income
$765,903 91
Deduct:
Intereston bonds
$125,00000
1
desired to
$13,899,880.
$151,191 71
49,780 46
6,610 96
3,030 21
1,2:^6 87
$2,191,327 07
*
was
H. «e L.
$860,998 58
301,469 95
23,983 21
14,157 97
5,194 18
T.
$1 ,626,207 22
Net income
is
it
converted into Capital Stock of the Vandalia RR. Co. at
454,520 97
1,350,558 51
60,184 40
68,559 15
Total
$25,000,000
this time on the New York Stock Exchange is $14,649,500.
The total amount of securities of constituent Companies
.$267,504 04
$160,487
209,172
691,560
27,023
43,413
36
99
42
08
67
158,223 21
Other charges
new Consolidated
100
Exp. main, of ways and structures.. $179,145 14
Expenf-es main, of equipment
.^05,'i'40 70
Expenses conducting transportation
824,893 27
General expenses
40,436 62
Taxes
76,49149
Interest on certlf. of indebtedness...
Rent of track of other Companies...
Loss in operating leased roads
100
agreed—
That of the present Mortgage indebted-
$3,150,636 78
Total operating expenses
500,000
In exchange for $4,900 of issued stock of the Logansport & Toledo Ry. Co. ($2,000,000 authorized)
$2,143,15156
Total
($1,615,000) 5,000 shares
stock stock, say
THE RESULTS OF OPERATION OF THE LINES FORMING THE VANDALIA
T.
&
&
;
335;
edMay
company's properties, the purchase and construction of additional railways, and for other lawful purposes.
The Vandalia RR. Co. assumes under the Agreement of
Consolidation the lease of the Terre Haute
Peoria RR. to
The Terre Haute
Indianapolis RR. Co., with all rights,
privileges and obligations belonging thereto. The rental
under this lease is fixed at 30 per cent of the gross earnings,
out of which is to be paid taxes, interest on bonds and rentals of tracks of other roads, and the principal and interest
thereon at 5 per cent of the bonded debt of the Terre Haute
Peoria RR. Co., amounting to $3,330,000, is guaranteed by
gansport
630-83 miles.
First track
[Vol. lxxx.
$49,559
23,271
109,155
3,809
19,424
15
85
51
24
97
$130,822
141,925
434,934
12,603
43,443
""170 oi
25,185 77
$787,518 33
251,332 51
$283,223 21
$205,025 77
$95,006 66
$64,170 01
$168,000 00
$815,435 64
$482,680 70
$795,240 72
$79,139 72
}$57,550 62
}$48,121 40
$1,251,389 22
Includes $205,380 accumulated dividends at 7 per cent per annum for years 1896-1904, paid by St. L. V. & T. H. RR. Co. out of surplus,
Bepresente Interest on money on special deposit which could not be distributed on account of pending litigation.
t DeUolt.
.
Apr.
1,
THE CHRONICLE.
1905.J
1245
BAL&.NCE SHEET OF VANDALIA RAILROAD COMPANY, JANUARY
Assets.
Cost of road, equipment, etc.—
Construction, right of way, real es-
$21,810,546 20
3,466,000 00
tate, etc
Eaulpment
$25,278,546 20
One
Union By. ..
of other Companies
fifth Interest in
Beooritlea
Ind.
$165,535 12
34,503 00
200,038 12
867,341 73
Supplies on hand for current operation
Cash and current assets-
Cash in hands of Treasurer
Cash on deposit with Pennsylvania
Cash remitted by agents, in
transit.
. .
Due by station agents and conductors
Dueby indivi' uals and companies...
Due on miscellaneous accounts
Bills receivable
&
stituent companies—
T. Kv. Co
L.
239,173 20
89,808
237,791
126,892
352,349
259,718
18,717
Liabilities.
Capital Stock to be issued—
To holders of T. H. & I. BR. Co. Stock $5,964,450 00
To holders of 8t L. V. & T. H. RR. Co.
Common Stock
3,737,116 20
To holders of St. L. V. & T. H. BB. Co.
Preferred Stock
1,706,180 00
To hoWers of T. H. & L. Ry. Co. Stock 1,400,000 00
To holders of L. & T. Ry. Co. Stock
loO 00
V. RR. Co. stock. ..
To holders of I.
100 00
In retirement of obligations of con-
Cash deposited with financial agents
forinterest
1905.
$12,807,946 20
$867,443 48
Company
1,
35
49
44
57
56
72
&
& V.
I.
$500,000 00
800,000 00
RR. Co
1,300,000 00
& St. L.
Ry. Co. account of
Indebtedness for betterments to St.
To
P. C. C.
L.V.
&T.H.BB
541,600 00
$14,649,546 20
2,191,894 81
Funded debtFirst Mtg. Five Per Cent Bonds, T, H.
& I. RR. Co.. due 1925
$1,900,000 00
Second Mtg. Five Per Cent Bonds, T.
H. & I. BB. Co.. due 1925
600,000 00
First Mtg. Seven Per Cent Bonds, St.
L. V. «fc T. H. RR. Co., mat. 1897....
1,896,000 00
Second Mtg. Seven Per Cent Bonds,
2,600,000 00
St. V. & T. H. BR. Co., mat. 1893.
First Mtft. Six Per Cent Bonds, T. H.
500,000 00
& L. RR. Co., due 1910
First Mtg. Seven Per Cent Bonds, I,
1,700,000 00
& V. RK. Co., due 1908
Four Per Cent Obligations of T. H. &
. .
L.Ry.Co
1,431,000 00
10,627,000 00
Tot. cap. llabllltlee, per
Current liabilities-
Agreement of Consolidation... $25,276,546 20
Accounts payable
Drafts of agents in transit, for freight
charges
Matured Interest on bonds
Accrued Interest on bonds
Accrued taxes
Due Individuals and Companies
Miscellaneous liabilities
Fund
for renewal of
equipment
$662,313 25
59,442 17
84,235 00
73,581 66
34,869 87
193,309 69
205,355 27
250,000 00
1,563,106 41
1,196,168 25
Balance, being surplus In assets
^
Total assets
$28,035,820 86
The transfer agent of the capital stock is the Farmers
Loan & Trust Co. of New York, and the registrar of the capital stock is the National Bank of Commerce in New York
The following are the names and places of residence of
the Directors of said company: John Q-. Williams, Indian-
W. R. Donaldson, St. Louis, Mo.; Charles H.
Seybt, Highland. 111.; Edw. B. Taylor and J. J. Brooks,
Pittsburgh, Pa.;JVolney T. Malott, Indianapolis, Ind.; Samuel
Rea, Philadelphia, Pa.; James McCrea, Joseph Wood and
J. J. Turner, all^of Pittsburgh, Pa. ; John P. Green, Philadelphia, Pa.
The following are the names and places of residence of
the Officers of said Company : James McCrea, President,
Pittsburgh, Pa.; Joseph Wood, First Vice-President, Pittsburgh, Pa.; J, J. Turner, Second Vice-President, Pittsburgh,
Pa.; Edw. B. Taylor, Third Vice-President, Pittsburgh, Pa.;
S. B. Liggett, Secretary, Pittsburgh, Pa.; T. H. B. McKnight, Treasurer, Pittsburgh, Pa.
The principal office of the Vandalia Railroad Company is
in Terre Haute, Indiana, and the general office of the Company is in Pittsburgh, Pennsylvania.
The By- Laws prescribe that the annual meeting of the
Stockholders of the Company shall be held at the principal
apolis, Ind.;
—The monthly
investment
list
of
Redmond
&
Co. appears
in this issue on the page facing the first page of editorial
matter. Messrs. Redmond
Co. have dealt in high-grade
investment bonds and guaranteed stocks for so long a time
that their recommendation should entitle a security to the
most careful consideration.
The list advertised embraces
issues of steam railroad, gas and telephone bonds and guaranteed stocks and in most cases 8pe«lal circulars can be had
giving fuller details than given in the advertisement.
feature of the firm's business Is the preparation ot lists of
investments suited to eepecial requirements, either for institutions, estates or individuals. Particular attention is called
to the excellent list of guaranteed stocks submitted in this
month's circular. These stocks are tax-exempt in this State
&
A
and ehcnld be quickly absorbed,
—The
Boston Directory of Directors contains the names
and addresses of 4,000 persons in Boston who are directors
and the corporations with which they are connected. The
book also gives the sworn statement of the financial condi
tlon ot 700 corporations as filed with the Secretary of State
under the requirements of the Massachusetts laws.
The
Bankers' Service Co., 88 Broad St., Boston, are the publishers.
New York
office, 41
Wall
—Mr. William
St.
A. Read, of the late firm of Vermilye &
Mr. Charles Hazard, a member of the New York Stock
Exchange, and Joseph H. Seaman, have formed a partnership under the firm name of William A. Read & Co., with
offices at 25 Nassau Street, New York; 43 State Street, Bosjton; Maryland Telephone Building, Baltimore, and Home
Co.,
[Insurance Bailding, Chicago.
$28,035,820 86
Total liabiUties
office of
the
Company on the
first
Tuesday in April in every
year.
A
The following are filed herewith :
certificate of a duly
qualified civil engineer as to the actual physical condition of
the property, and a certified copy of the Resolution of the
Board of Directors of the Vandalia Railroad Company appointing the National Bank of Commerce in New York the
Registrar of the Capital Stock, and a certified copy of the ByLaws and Organization for conducting the business of the
Conapany.
sketch map showing the various lines forming
the Company's railroad.
certified copy of the Agreement
of Consolidation. Samples of the Stock Certificates.
A
A
Respectfully submitted,
VANDALIA RAILROAD COMPANY,
By Edward
B.
Taylor,
Ihird Vice President.
This Committee on Stock Lists recommends that the
above-described. $14,649,500 Capital Stock be admitted to the
list.
Adopted by the Governing Committee, March
gg, 1905.
—
Immauuel Auerbach, the editor of the "New Yorker
Handels Zeltung," died yesterday after a short illness. He
was born in 1822 in Karlsruhe, Badenia, and studied law
at the universities at Heidelberg and Berlin.
He came
to the United States in 1850, and was leading editor of
the "Handels-Zsltung" for twelve years. He leaves a widow
and daughter and three sons, one of them being Meyer
Auerbach, the publisher of the "Handels-Zaitung."
—In
our advertising columns the announcement
&
is
made
of the removal of Coffin
Co., bond-brokers, from 31
Nassau Street to the ground floor at 25 Pine Street, the
offices heretofore occnpied by W. S. Fanshawe.
Tliis is
Co. will suoceed to the
utderstood to mean that Coffin
bond-brokerage business formerly carried on by Mr. Fanshawe, Mr. Fanshawe has joined the firm of Messrs.
Harvey Fisk & Sons.
&
—"The Kansas Oil Field Handbook" is the title of a 55page pamphlet compiled by D. M. Kennedy, investment
broker and Ist Vice-President First National Bank, Chanute,
Kansas. The pamphlet contalcs a brief description of the
various oil companies of Kansas, with the names of their
officers,
the amounts of their capital stock, etc.
-Messrs. Kountze Bros., Broadway and Cedar Street, are
to day offering investors a block of Massachusetts State
gold ^% per cent bonds yielding 3 -22 per cent. The firm's
bond department ia under Mr. Wilbur F. Baker's supervision.
— Denison,
Prior
&
Wednesday their new
EucUd Avenue
Co. of Cleveland will occupy next
in tne Garfield Building, 121
offices
.
^ht ^ommtxtml
c o T
forwarded. The volume of new
business being booked has been of good proportions, indicating a general feeling of confidence in the future. The Information from the interior has continued to report active
progress in farm work and a promising condition of the
growing crops, the result of the favorable weather. Prices
for the various grains, inflaenced by the good start already
made, have shown a declining tendency. At the lower prices
for corn, exporters appeared in the market as fairly free buyers.
Lard on the spot has been easier, and during the latter part
of the week at the lower prices quoted demand was imr.ing to order their supplies
proving. The close was firmer at 7*30c. for prime Western
and 6 76c. for prime City. Business in refined lard has been
qniet and prices have been easier. The close was steady at
Speculation in lard for
7 35c. for refined for the Continent.
fumre delivery has baen moderately active. Sympathy with
a decline in values for corn and profit-taking sales by outside sptculative interests weakened prices. The close of the
market was steady at a slight recovery in prices.
DAILY CLOSING FSIOES OF LABD FDTUBES IN CHICAGO.
Ihurt.
Sut.
Mon.
Tuts.
Wed,
Fri.
715
710
7-12ia
7-30
7-25
725
7-07J«
;
A
smaller Brazil crop movement and a sharp ad
vance in Brazil sterling exchange has served to stimulate
buying. The close was firmer.
The following were the closing asked prices:
April
May
6'60o.
«.«. 6-650.
I
1
Aag
Sept
Nov
705o. Deo
6-95e.
I
Havaua tobacco steady.
iLflaenced by stronger foreign advices, prices for Straits
tin have continued to advance, closing firm at 80@30'16c.
logot copper baR been in fair demand, and prices hav« baen
fi.-m at lOJ^OlSJ^ ^. for Lake and 15i^ '915)^0. fr^ electrolytic.
L3&d has held steady at 4'50@4'6:)c. Spelter Lias been qaiet,
dofiing at 6c.
Pig iron in good demand lud firm at $17 50
@17 75 for No. 2 Northern and $17 26@17 60 ior No. 2 tsonihern.
Refined petroltuin for export has beeii fairly active and
steady at 7*15c. in bbls., 9 b5c. in catej and 4'2ac. in bulk.
Niphtha has been steady at 113^c. for XI degrees and 12c. lor
76 degrees. Credit balances have be'»}n easier, closing at
l'86c.
Spirits turpentine bas advanced jharply and the close
was firm at 61o. for machine bbls. Rosins have been in
smuU supply and firm at $8 for comm-^a and good strained.
Hot-s havo been steady. Wool has hiezx quiet.
TKurt.
tri.
\
7,616
856
3,719
9,805 14.333
3,896
13,114 18,392 10.599 15,837
617
181 1,732
895
1,197
379
140
5,900 4,726 3,-63 3,770
1.323
494
402 1,356
987
70,354
8,896
70.289
4,765
1,716
24,547
1,328
4,628
233
1,156
814
991
747
884
353
30
441
4.236
1,244
2,357
2,393
1,349
976
1,330
9.649
182
SO
190
182
60
144
987
50
New
York.
Boston
Baltimore
Totai.
7.020 13,609 13,158
N'p'tNewe.Ao.
416
341
25
"To
Plilla(lelp'a.Ao
259
572
48
30
1,922
987
193
week. 28.006 24,166 S8,823 34,745 28,'253 44,769 198.762
rot. tlUe
The following shows the week's totai receipts, the total sinoo
and the stocks to-night, compared with last year.
Septi 1, 1904,
1904-05.
1903-04.
Stock.
Receipts to
Thit
week.
Mch. 31
\
70,354 2,208.094
3,896
184,656
Orleans 70,283 2,163.183
New
MobUe
Thit
week.
Since Sep.
1, 1904.
Galveston...
Pt. Ax.,&o.
25:>.932
4,755j
1,716;
(bo.
19B,76i 7,705,2t<0
Totals
Since Sep.
1, 1903.
1905.
15.103 2,267.391
276
99,261
21,159 1,828.789
827 190,419
166,613
Savannah... 24,547 1,402,352
Br'wlok, &o.
1,328
164,476
Charleston..
4,628 190.819
P. Royal, Ac.
30
886
Wilmington
4,236 294,833
122
Wash'n, &e.
Norfolk
9,649 543.393,
10.0£0
N'portN..&o
182
22.364
Sew York...
5o;
61.111
Soston
1,922
41,784
987
Baltimore.
10,572
193
PUladel.&o.
P'saoola,
1904.
166.769
24,065
253 607
284.670
31.537
7,478
54,848
7.498
4,575
126.180
505
160,788
51.68 5
7,685
19,098
1
1.069
320,677
9,997
6,090
9,269
8,235 1,082,626
408 120,760
152
336
5,580
439,144
84,895
S67
16,868
9,641
20,753
24,438
12.469
29
73,788
56,125 6,701,609;
2,094
949
290
179
805
8,152
4,577
103,096
27.000
3,122
875
1,953
647.598
540.169
In order that a comparison may be made with other years,
totals at leading ports for six seasons.
we give below the
Beceiptt
at—
1906.
1904.
aaives'n. &e.
74,?.50
New
70,2S9
4,786
24,547
4,668
4,236
9,649
182
6,186
Orleans
Mobile
Savannah...
Obas'ton, &o.
Wllm'ton, die
Norfolk
News, &o.
All others...
96deg. test, and i%i. for muscovado, 89-deg. test.
Refined sngar has held steady, and at the close demand was
8",tive; granulated was qaoted at 5'95j.
Teaa have been
qiipf. Spices bave had a limited sale.
Offerines of Ksntuaky tobacco have continued limited and
prices have held firm. Bayers have been reported showing
a lair amount of interest in seed leaf tobaoco and sales have
been reported of Z.mmers Spanish, Pennsylvania broad leaf
and old Wisoonsin. Owing, however, to limited offerings
the volume of business trantacted has been moderate. Sumatra tobacco has been in fair demand for old-crop supplies,
doe to the high prices being reported paid for new Sumatra
\
Oharleston ....
Ft. Royal, dco.
Wilmington....
Wa8li'ton,&o.
Norfolk
Wen.
Tue*.
BnmBw'k, <&e
7 3uo
735c.
lug'41,
Mon.
Sat.
GalveBton
12,429
Pt.Arthur,&o
BTew Orleans... 9,741
Mobil©
434
Pensaeola, Ae.
Savannah
2,670
N.
Raw
at tb*» Auifeterdam inscriptions.
ReceipU at—
7-20o
7-100. Jan
6 850 Oct
sugars have been sparingly offered. Damand has improved and prices have artvanced, closing at 5c. for ceatri-
July
31, 1905.
as indioated by our telegrame
.rom the South to-night Is given below, For the wf^ek ending
this evening the total receipts have reached 198,762 balea,
against 174,331 bales last week and 139,562 bales th« previous
weak, making the total receipts since the 1st of Sept., 1904,
7,705,291 bales, against 6,701,609 bales for the same period of
1908-4, showine^ an inf rease since Sen 1, 1904, of 1,003,681 > ales,
7-12i«
730
7 22i2
Pork has had only a moderate sale, but prices have held
s'.eady at $13 25® 18 62 j^ for mess and $14 5"@15 for family.
Cut meats have been more freely offered and prices have
been easier, closing at 6c. for pickled shoulders, 8%'^9o. for
pickled hams and 1}4@1^g. for pickled bellies, 14@10 lbs.
average. Beef has been quiet but steady at $9 50@10 for
mess, $10 60 for packet, $11@12 for family and $16 50@17 for
extra India mees in tcs. Tallow has been sparingly offered,
closing firm ati^gC bid. Stearines have been in fair demand
and firm, closing at 73^@7^'?. for lard stearioe and 7i^c. for
oleo stearine. Cotton-sBed oil has been quiet and easier,
cloeing at 853^@23c. for prime yellow. Butter advanced
easily in the week, but closed easier with creamery quoted at
20@28i^c. Cheese has been in less active demand, but the
close was firm at 10i^@14c, for State factory, full cre^m.
Fresh eggs have continued in full supply, but th'=re has been
a good demand and prices hava held steady at ll%@l8o. for
beet Western.
Brazil grades of copper have been in improving demand,
trade interests generally showing more interest as buyerp,
and a moderate volume of business has been traneactsd
prices have advanced. Toe close was firm at 75^8. for Rio
No. 7 aod 8%c. for Santos No. 4
West India growths have
bad a fairly free sale to jobbers and at higher valuss,
closing at 93^c. for goo.1 Cacuta and 10^@llo. for good
average Bogota.
East India growths have been steady.
Spc-'culation in the market for contracts has been moderately
acive.
j^
The Movbhbnt of the Chop
considerable area of the country is hastening the opening of
interior navigation, and this has tended to increase the distribution of merchandise. Interior dealers who have been
waiting for this cheaper means of transportation are begin-
7 15
7-30
o
i:
Friday Nioht, March
Friday Night, March 31, 1905.
The unusually mild weather experienced latterly over a
dftl'y
[Vol. i.ygx
^imjcs,
COMMERCIAL EPITOME
May
.
THE CHRONICLE.
124()
Jalydel'y
.
rot. this
wk. 198,762
1903.
15,379
21,159
1902.
1901.
21.066
18,662
81,072
45,331
1.419
11,9S2
1900.
45.702
35,218
479
902
983
5,580
1,264
4,307
4,910
5,998
867
219
675
187
3,9 tO
10,701
12,680
10,637
18,273
25,816
2,623
11,157
2,182
2,633
2,932
198
17,79 7
56,125
106,359
66,890
117.5*9
83,611
827
8,235
506
152
64
726
551
6,878
1,324
17,371
Since Sept. 1 7705.290 6701,609 7021,584 6879.^60
6M1
832 6039,826
The 'Exports for the week ending this eveului^ reach a cota!
of 176,633 bales, of which 82 949 were to Great Britain, 26,881
to France and 66,808 to the rest of the Continent,
Below
are the exports for the
week and since Sent,
Week Endinu Mch SI .1906.
ExriortfA to—
from—
Cont4- lotal
Great
France
Wrek.
BriVn.
nent.
23,2JU
talTeston
Pt.Arthur, 4o.
MewOrleaM..
88,042
19,270
7.031
28,2-0
23,S74
.
Ortat
nritain.
tAvanuah
11,825
38 a21,60i!
66,450
66,235,
7ii7,613 20i.'r4
11,826
....
vharUf ton ....
rratice
9«il.
6.760
6,7eo
...
1904.
8«p(. 1, 1904, Co Mch 31. 1906
Bxpnrteil to—
4-l,f0;l
t'ensaoola, &o.
.
70,809
Mobile
r>raniwlok
From
1
3U.769
63.429^ 19 639
287.435
47,766
Oonti
nent.
Total.
53l.h20 t.743 i60
136,708
14i,0S8
6 4.522 i.7:o,a8a
63.48S
185.24S
eo.so148 316
7J0.633 1,021, '23
122.337
6,94 tl
129,283
3,879
69,472
78,851
3.86.'
16U,04&
13.61''
7,717
279.225
ai.SiS
Port Royal....
<Yilmincrton...
7,668
7.668
116.618
Morfolk
l^.OfiO
lOJ
1.212
13,3.12
10,819
164,6'iO
4,2 ;8
239 0)2
lia.38S
77 475
423,501
124.286
113.9il
174
3J.t9i
•^'port N., *(!..
Sow York
3,734
•soiton
Jialttmore
2.0 9
Total. l»03-(i4.
fl,7t«i
8.0.>9
174
e?8
Ao
Total
2,468
£0)
4,0-:t
'^blladelpbla..
'an t'ran.,
677
6711
ll.O.W
4.124
»8
1(-4
3 79m
36,'>94
170.<12l
170.621
^2,949
DO.SSl
oe.bOi 176 BJ3 2.910.618 666,818 2.788,l!98 6.86)1,724
44.150
14,181
17.»ftl
7«(47 « iTiirTi
eHS.iisu «,4«0.uM 5 H4H.»v!l
.
.
.
Apr.
1,
1
.
'
THE CHRONICLE.
1905.
|
In addition to above exports, our telegrams to-night also
give us the following amounts of cotton on shipboard, not
cleared, at the ports named.
add similar figures for
New York, which are prepared for our special use by
Barrows, Produce Exchange Building.
Messrs. Lambert
1247
PTUBE8.—Highest, lowest and
We
closing prices at
New York.
>*i
&
ON SHTPBOARD, NOT CLEARED FOB—
Mch. 31 at-
Leaving
Great
Other OoastGerBritain Fr'nce many. For'gn u>ise.
stock.
Total.
»5<l
I
»«w
Orleans.
Galveston.. ..
Savannah..
7,255 18,463 23.907
5.300 6.050 9,471
1,385 6,600
17,884
35,834
..
Charleston . .
Woblle
Norfolk
New York....
Other ports .
Total 1905..
Total 1904..
Total 1903..
"300 i'ebo
i'coo
3,000
"800
69.170
63.030
7,&85
1,661
1,375
9C0
1^475
22,0C0
3,000
I
S
;
43?04
i'iVs
19.C98
fo.ces
22 000
6,700
5,000
67.0g8
21.315
<J-oi
<1«J
I
<j.3
@
Speculation in cotton for future delivery has been moderately active. Esrly in the week there was a moderate decline in prlcep.
The report of the Cerisus Bureau, leeued en
Tuesday, noede the total crop for this season, according lo
ginnerb' retnrne, 13,fi97,782 commercial bales. Ii flnenced by
this report and a iarge crop movement, values weafeened.
At the decline, however, fairly good buying eet in, and there
developed a sfeadier tone. Shorts in M»y have been reported
showing seme nervouecess, atd dnricg the latter part of the
week were buyers to cover contracts. This demand started
values on sn npward course, with prices for May contracts taking tbe lead. The advices received f rem the South have reported
a light demacd for ac!nal cotton, but there has been no pres
Eure from planteis to market their remaicing pcppliee, aEd
prices have been repoi ted as holding steady. Spinners are
now, it is understood, largely supplied, aid the tendency
seems to be to wait and see whether planters will reduce
their acreage before again buying with any degree of freedom. To-day there was a steadier market, bnyirg by ehortfto cover contracts, and limited offerings advancing prices
slightly. Towards tbe close part of the improvement was Icet
and final prices were 1 point lower to 2 points higher for tbe
day. Cotton on the spot declined earlier in the week, but
later recovered, closing stef dy at 8-15c, for middling uplatd-.
The rates on and off middling, as established Nov. 18, 1903,
by the Revision Committee, at which grades other than
middling may be delivered on contract, are as follows.
Fair
0. 1-30 on
Good Middling Tinged o. Even
Middling Fair
0-96 on Strict Middling Tinged.... 006 ofi
Strict Good Middling
0*62 on Middling Tinged
0'12 oil
Good Middling
0*44 on Strict Low Mid. Tinged ...
34 ofl
Strict Low Middling
0-14 off Low Middling Tinged..... 050 ofl
Low Middling
0-38 off Strict Good Ord. Tinged
84 ofi
Strict Good Ordinary
072 off Middling Stained
050 ofl
Good Ordinary
1-00 off Strict Low Mid. Stained... 1 06 ofl
Strict Good Mid. Tinged.. 0-30 on Low Middling Stained
150 ofl
On this basis the official prices for a few of the grades for
the past week— Mch. 25 to Mch. 31— would be as follows.
UPLANDS.
Sat. ItXon
Good Ordinary. ...,....^^.„.
Low
Middling'.
'.'...V.l'.
Middling
Gtood Mrddiliig
Middling Fair
'
„.„
GULF.
Tnes
Wed
705
767
7-05
7-67
705
705
7-67
7-67
805
805 8
a-49
8 49
901
901
Sat.
Tb. PrL
7'1 a
05
806
7-<5
7-77
8-15
8-49
9-01
49
9 01
9-11
911
Mon Totes Wed
Til.
Fi-S.
7-40
8 02
7*40
8-Oi
8-40
8'40
8-8i
a'84
9-36
7-77
8-15
859
4
.q^
aa
aw
Ol
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coo
<iw
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3fi2 9,6<»3 8.220 8,€8i 44,578
5,177 26,604 26,001 11,118 110,2^0
CO
®
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12895
60,718 14,240 33,71B 34,178 27,411 170,260
17.S99
42,330
obts
OCII
184,337
98,739
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The Visible Supply of Cotton to-night, as made up by
cable and telegraph, is as follows. Foreign stocks, as well
as the afloat, are this week's returns, and consequently all
foreign figures are brought down to Thursday evening.
But to make the total the complete figures for to-night
Mch. 31), we add the Item of exports from the United StaSes,
EcIudlEg in it the exports of Friday only.
1905.
1904.
1903.
1902.
Stock at l<3V0]r$(>Ol..„„o,bkles. 812,000 667.000 633.000 1,139,000
stock at London. ..^o,..,.„.,._
13,000
11,000
7,000
6,000
Stock at Manchester. ..._ ..-.«,
50.000
64,000
60,000
Total Great Britain Btock. 875,000 642,000' 750,000 1,145,000
Stock at Ham a arg ............ .,..
9. 000
8 000
7.000
13,000
Stock at Bremen ...^ ,.^..„^ 357,000 372,000 316.000 252,000
Stock at Antwerp ....... ^..^
1 000
4.000
3,000
8.000
Stock at Havre
.....
136,000 225.000
^
217,000 336,000
Btook at ei areellleB..
3.000
3,000
3,000
2.000
Stock at Saroelona,
35,000
39,000
Reyleed *28.000
54.000
stock at aeuoa
81,000
19,000
...
32,000
63,000
Stockat TvlasliO...^... ......1.
5,000
6,000
3,000
5,000
Total Oonttneatal stocks.. fOO.OOO 683,000
609,000 602,000
Total European stocks
1,475 000 l,32ft,000 1,399,000 1,747,000
India cotton «au»tIor ttarope
96,000
99,000 224,000 195,000
Ajner. cotton 4fl<i»t for S'rope. 405.000
204,000 517,000 283,000
EKypt, BrazU.Ac, aat.Hor E'pe
27.000
48.000
34,000
89.000
Stock In AJexandrla, Egypt... 206.000 225,000 115,000
214.000
Stock in Bombay, India.. ...... 743,000 391,000 715,000
581,000
Stock in United States portB.
647.598 540,169 427.«15 6S2.889
Stock In 0. 8. interior towns. 686,328 272.951
219,854 399,028
United States esiportstto-day
22,612
4»,485
5,883
Total visible supply
4,248.411 3,2o9,l20 3,628,481 4,042,800
Of the above, totals of American ana other descriptions are as iouowb:
.
Good
Ordinary.............
Low
Middling
Middling
Good Middling
Middling Fair
,.
STAINED.
730 7-30
792 7 92
83C 8^0
7 30
7-30
8-30
7 92
8-30
8-74
9-26
a-74
9-28
8-74
9-26
9 36
Wed
Th.
Sat.
Low
Middling
Middling
Strict Low Middling Tinged...
Good Middling Tinged
8-74
9-26
792
Slon Tues
6-35
7-65
7-71
8-05
6-55
755
7-7t
8 15
6-65
7'&5
7'7l
8-05
The quotations
665
6-55
7-55
7-65
7-81
8 15
771
805
FrJi
6 65
7-65
7-81
8-15
New
for middling upland at
York on
31 for each of the past 32 years have been as follows.
1905. ...0. 8-15 1897. ...0. 75,8
1889... .0.1(3,8
1881....O.10lii«
15-35 1896
1904
13
7i5ie 1888
9i6ifl 1880
1903
9'95
67.1895
1887
lOia
1879
109i6
9i«
1902
9
1894
7^
1886
lv\
1878
1901
68^
1893
f3iIlls
1885
1877
1'^s
1900
9 08
1892
6iiia 1884
Ii7,3
13%
1876
1899
65,8
1891
ItSg
9
1883
101,8
1875
1898
63,6
1890
llTie
1882......1218
17
1874
Note.—On Oct. l, 1874, grades of cotton as quoted were changed
According to the new classiflcation Middling was on that day qnoted
%o. lower Chan Middling ot the old classification.
Mch.
MARKET AND SALES.
The total sales of cotton on the spot each day during the
week are indicated in the following statement. For the
convenience of the reader we also add columns which show
at a glance how the market for spots and futures closed on
same days.
Spot Market
Closed.
Saturday
Qnlet.lOpts.
Monday.... wuiei....
TncHday . Quiet...
do.
Futures
Market
Closed.
Steady
......
steady.....
Sales of Spot
Ex-
Oon-
Con-
port.
sump.
tract.
ICO
800
steady ....
Wednesday wniet.Very steady
Thursday. Wulet,10pts.ad. Steady
Frday
Quiet
Quiet
.
Total
& Oontbaot.
25
25
50
126
600
1,S25
.'0
fO
?,400
53
38
2,460
256
2.900
4.056
5t-
900
Total.
Afntrxmu.'
—
609.000 1,013,000
50,000
continental atooks. ,...^
580.000 565.000
.„.
imerlean afloat for Burope.
517.000 283.000
Inlted States Btook.
427.615 682,889
....«,„.
219 254 399,0i8
JaltedSeateslnterlorBtookB. 585828
Tnitad StateaezportB to-day.'
48.485
22,612
5,883
Total Am«noan...... ...... 3,028 411 2,176.120 2,4267481 2,9487800
Bast Indian, Srv^uil, a».—
76.000
88.000
74.000
•ivarpool »"«'>,.,... ^... .,..
126,000
13.000
LondoB stock
11,000
7,000
6,000
13,000
10.000
Manohester stock.......
9,000
'37,000
000
lOniiueniaisiooKn
35
54,000
29.000
..^^^^
99.000 224.000 195,000
adla afloat for Burope . ..,, .^
96.000
39,000
27,000
Braill,
afloat
*e.,
48,000
34,000
lfr7Pti
325,000 125,000 214,000
itook In Alexandria, Egypt... 206.000
391,000 715.000 581,000
<toek in Bombay, India. ._,.. 743,000
Total Cast India, *o..
1.210 000 1.033,000 1,203,000 1,094,000
Total Amerleac... ......
3.028 411 2,176,120 2,425.481 2,948 800
Total Visible autply
...4.248.411 3,209. 120 3,628,481 4,04-2.800
fiddling Upland, L]v«>rpoo
4 28d.
8-28d.
6-36d.
4--'93ad.
15-360.
Clddllng Upland, tiew Ycr>..
8160.
10-15C.
&3,ge.
SBgd.
6i4d.
Igypt Gfood Brown, Liverpool
10»4d.
76i»d.
'•rn V. Rough GK>od,Llvrrpool lOlOd.
10-25d.
7'90d.
7d.
4B,,d.
iioaeb Vine, Liverpool
7iiiad.
6d.
49i8d.
"
iBTi"velly Oood. cfTcrpooi...
4B8d.
438d.
6d.
'led.
Continental imports past week have been 94,000 bales.
The above figures for 1905 show a decreafe from last week
of 23,C24 bales, a gain of 1,039,291 bales over 1904, an excess of
619,«30 bales over 1903 and a gain of 205,611 bales over 1902.
jivarpoolttJOk
balsa.
tfanonester stook.... ...........
.
t^
736,000
41,000
565,000
405.000
647,598
479,000
61,000
629,000
204,000
540,169
272,961
w
.
.
.
.
THE CHRONICLE
1248
At the Intkbioe Towns
receipts for the
week and
the
is
the shipments for the
for the
set out in detail below.
since Sept.
1,
and the same items
to-night,
corresponding period of 1903-04
S
movement— that
the
week and the stocks
goo
—
is
botx
»>
» 2
p-D
OD (^
<s
£.* r^o
"^
o
,''
El
9
o
o
2.(1
P 5
(s
(B
O
H
>
H
03
hri
O
r>>
wC9
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"9 • M
•
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•
'
-©
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M
H-
H'
ifk
CO
to
|^<IC5WQO<ltOOOOh-^tO
0<Xl<>'^CiOKOiV^'M >op O OD h- O 00 iO to OC «! <B W -J '^P^^^y^!P!f^
O*>.tCtDC0P— I— i-'^i-'r-tOO>QDO>-'QDO;i&.tO
CO
CnWtOMMWI-'
<)
M
CimmM
KltOM
O05Wtvrfk»-'b0t0WOl-=0;W»C0U>C0W>tr^C5 |fk|(i.aC0000tOl^'XCOI-'M
t»t2bS*'aDtOO*>CX)||^t;<*«-Wll-'»>-'«><k^OSt3tOCON;MMaiOOOlO?Ofr3
00
•JbO;^005a'OWtO®OH-'aif»tHM»JWOlVWk30;Olfi>b305r-Mt3Vl»-'l^
00
l^MMMtSH*
MtOWI-'K) COMMtO
to
O5,*-'W_»aO0p<lMO5C«>MOStOl^<Iai Q0W»-W_K!_tO_<JO<M05®W
co'it'.'bvVio o"c o" ' aVs i-jlolfi oo
oo'oj bo
o oo oolo
04
Uf-
fejs
'*>.
ip»-
09 ?C
a>i(>-i->-jaii(^tO(soi^^05HOW>Maoc&K)U<c^^w<xo3iF>-M;^obH'Vi^
00,
m;
;
m m
to
;
owV
<lM|(^
to
-<
!-
M
Range
>j
OCTOB'R
Ran^e
i;^
I
to
It'
'W
W
00
05«0-a«or<05CtOO
W
W
cotstooif>'
05U1|C>.U<
MiuuooaciXi^i(^oa900Ct9M<)ii>>.p>Ci30<OiF>'Wa<c;it3c;iMi^vi
^^
0<j>-'OOCOif'to^'*0<] — ODWMWMto»cnM-jit»tocito*-co»p>.OM(x> mST
o»oi(^MO'^i^c;iMCOoo5t3cowaoMOO(ocnooi^C5Mi(^(Otoo<ocoasi^o
The above totals show that the interior stocks have decreased during the week 14,753 bales, and are to-night 312,377
bales more than same period last year. The receipts at all the
towns have been 114,858 bales more than same week last year.
Overland Movement for the Week and Since Sept. 1.—
a statement showing the overland movement
for the week and since Sept. 1, as made up from telegraphic
reports Friday night.
The results for the week ending
Mch. 31 and since Sept, 1 in the last two years are as follows.
We give below
190405.
March
31.
Week.
1903-04.
Since
Sept. 1.
Week.
Since
Sept. 1.
—
Shipped
Via
Via
Via
Via
Via
Via
15.641
9,048
1,103
1.942
1.237
3,842
St. lioola
Cairo
Rook iBland
Louisville
Cincinnati
other routes, &o...
Total ^oss overland
Deduct shipments—
Overland to N. Y., Boston, &o..
32,813 1,102,975
Between
Interior towns
Inland, &o., from Soath
Total to be dedacted......
449,838
262,415
41,793
73.394
43.387
232,148
....
7,276
2,947
471,354
240.944
94
13,402
107,443
30,633
181,5/8
2,542
198
2,180
15,237 1,045,304
40 714
3,512
43
6,454
67,301
29.331
73,979
191,181
10,008
170,611
3,152
13.5,831
378
300
14,636
3,830
Leaving total net overland"
28,983 911,794
5,229 874.693
movement by rail to Canada,
The foregoing shows that the week's net overland movement
this year has been 28.983 bales, against 5,2Z\) bales for the
week in 1904, and that for the season to date the aggregate net
overland exhibits an increase over a year ago of 37,101 bales.
.
Inolndlng
1903-04.
1904-05.
In Sight and Spinnen'
Takings.
Week.
Receipts at ports to Moh. 31
Net overland to Moh. 31
Since
Sept. 1.
Week.
Since
Sept. 1.
Soathern consumption Mch. 31.
198,762 7,705,290
28.983 911,794
44,000 1,272,000
Total marketed
Interior stocks In excess.
271,745 9,889.084 103,354 8,827,302
* 14,752
523,668 '27,291
261,349
Came Into sight during week. 256,993
Total In eight Moh. 31
10412782
North, spinners' tak'gs to Moh.31
* Decrease during week.
Movement
Bales.
3
4
5
6
56,VZf> 6,701,609
5,229 874.693
42,000 1,251,000
76,060
9,088,651
54,901 1,698,2741 24,603 1,949,865
,
^
,
Since Sept.
1-
141,728
1902-03- Apr. 3
87,5?^8
lPOl-02 -Apr. 4
1900-01-Apr. 5
1899-00- Apr. 6
139,186
79,383
T-f's"
8-05
815
8-40
8 40
713l6
788
79l6
7i3ja
758
788
7l€
7H
8 00
8-30
7B8
7ifl
7I9
7ifl
Zl!'«
7=8
79l6
79i6
7i«
719
7»ie
79ie
718
7%
800
8
00
Sat'day,
Monday, Tuesday, Wed'day, Thursd'y Friday,
Mch. 25.
Mch. 27.
Mch. 28.
Mch. 29.
Mch. 30. Mch. 31.
-
7-49--53
7-48--49
7-41--56
7-53--54
7-42--54
7-40--45
7'50--56
7-56--61
7-53 -55
7-60 -63
7-34--41
7-35--36
7a5-41
7-36--37
7-25-'42
7'27--28
7-32--42
7-41--42
7-37--54
7-47--48
7-38--44
7-a8--39
7-29--44
7-40--41
7-28--46
7-30--31
7-35--44
7-43--44
739--56 7-46--56
7-40--41
7-40-'41
7-42--44
_
^ —
—
-
—
7-32--35
747--51
7-40-52 741--52
7-48--50
749-50
Quiet.
Steady.
Steady.
Steady.
-'60
7-46-56
7-46--47
7-41--42
7-38--43
7-46--47
7-48--49
—
_
_
7-46--47
—
-•.',4:
7-50-52
7-48--50
7-47-55 7-49-63
7-54-55 757--58
7-58--63
7-57--58
Easy.
Firm.
Steady.
Quiet.
Steady.
Quiet.
Bales.
9.443.935
9.294,130
8.066,654
8,191.347
Quiet.
Quiet.
telegraphic ad-
evening are, on the whole, of a
favorable character. The weather during the wtek has in
the main been satisfactory and good progress is now being
made with farm work. Planting operations, which had
been materially delayed by unfavorable conditions, are well
under way in earlier sections and about beginning elsewhere.
Oalveaton, Texas,—It has rainecl on one day of the week,
the precipitation being seventy-seven hundredths of an inch.
The thermometer has ranged from 64 to 74, averaging: 64.
Corpua Ckristi, Teajas.— There has been rain on one day of
the week, the precipitation reaching eighty hundredths of an
inch. Average thermometer 63, highest 78, lowest 58.
8an Antonio, Teajas.—There has been no rain during the
week. The thermometer has averaged 64, the highest being
83 and the lowest 46.
Taylor, Texas.—We have had rain on one day of the week,
The therthe rainfall reaching six hundredths of an incii.
mometer has averageti 64, ranging from 46 to 83.
We have had rain on one day the past
Palestine, Texas.
week, the rainfall being ninety hundredths of an inch. The
thermomfiter has ranged from 48 to 83, averaging 65.
Fort Worth, Tessas —RHin has fallen on two days during
the week, to the extent of forty-two hundredths of an inch
Average thermometer 63, highest 83, lowest 44.
Abilene, Texas. There has been rain on one day during
the week, the precipitation being forty- four hundredths of
an inch. The thermometer has averaged 63, the highest being 84 and the lowest 43.
There has been rain on one day
Jfeto Orleans, Louisiana.
during the week, the precipitation being one inch and nineteen hundredths. The thermometer haa averaged 68.
Shreveport, Louisiana,
We hnve had rain on three days
the past week, the rainfall being eighty eight handredtbs
of an inch. The thermometer has ranged from 50 to 83,
averaging 66.
Leland, Mississippi.— We have had rain during the week,
the rainfall reaching one inch and ninety-three huadreths.
Thermometer has averaged 63, highest being 80 and the low-
from the South
this
—
—
—
—
est 43.
Viclcsburg, Mississippi.—
rlng thH week, the rainfall
We have had rain on one day dur-
being one inch and eighteen
hundredths. The thermometer has averaged 66, ranging from
51 to 83.
Arkansas.— Cotu planting U becoming general.
rain on two days during the week, the rainfall
being one inch and four hundredths. The thermometer has
rantjed from 47 to 79. averaging 63.
Helena, Arkansis. There has been rain on one day of the
week, the precipitation reaching twenty-four hundredths of
an Inch. Average thermometer 68, highest 81, lowest 45.
Nashville, Tennessee.
It has rained during the week, the
precipitation being seven tfien hnndredths of an inch. The
thermometer has averaged 63, raugiog from 43 to 81,
Memphis, Tenne-ssee.— Weather during the greater part of
the week was favorable for farm work. Corn planting Is
active. It has rained on three days of the week, the preciplLittle Rock,
We have had
—
—
into sight in previous years.
Week—
1903 -Apr.
1902-Apr.
1901- Apr.
X900-Apr.
7'8"
805
Weather Reports by Telegraph.— Oor
(o-^imcci^
CO
MO»Oi<l
.
Spot...
Options.
05lF>-
7'fl"
Tone-
vices
toif^
.
Closmg..
tooitoi-ui;co5V<oi^c;tw)F>'<];ctsotowtOM««cdMMOc;ii-'OC;<-^>a
owool
o>ao-
.
Closuig..
Range
<i<ij*a<»p<iMaMwpacrpj^pp_#»o'Qow<»*^p»50wpaoxio^
WMOotOit'-ifkWOii-' — ao5toi-CDwac*'M.^O®M05A<)ioi«»owi<iai-'
!«>•'->
.
Closing.
K^C;ii^CO<O-ltOO5O50006M
MO so to to 05 W 05 Qolo MM CnOoVltO;
wm; »aw< cow<iodoow©o»«owmwmoooo*'!
«to- c;i-.]oaocoo5COOMMCoaut«^co;^toui0500if>'-
758
788
788
788
8-30
August—
»-J OOlVobl www 05 Vl'-V'-Xilo ©"»<!© Os'-oV- 050 Moi'owVi w
to'co;
7'8"
8 05
8 00
7ifl
71a
758
758
JULT—
MM
to
7ifl
7ifl
8 30
71116
May-
Closing..
m M®toi-" ojkOk-to
en; 1^
to
too; M'
»]
toto
OOO! 10 MlfOI «; -J0D<la»3M*'t0l-'C;iO&5*>-O:QDH' 05lt^»aM0J
OA' 00. WOl->CS~J C0i:OC0l->«4O:0n<]|(^a0U<Vi0OUl|^i^' tOMOOtOO
"q>-'M-gWMMOMMM0006»JO'0<I"'*>'tO
.
Closing..
Range
00
788
7^
7H
March—
Range
Vm
©:;>05W05Wi•^<^>-'^5»05Wco^Ol^coOl»aooao5^^^ocDcowcOl^w<l
00 Vi oi'ojoo'i-.
79, a
.
uii^viii^Oif^cor'toMi^tooct9<]Ci9u<wiF^(x>cna50i->MaDao~aeoMto^<o
MM
8-05
8-00
788
738
closing quotations to-day (Friday) at other important
Southern markets were as follows.
Louisville
Atlanta
758
Natchez
7\
.....
Columbus, Ga.
Montgomery.. 79x8 Raleigh
7^4
714
7i«
7ia
Nashville
Columbus, Miss 7
Shreveport....
New Orleans Option Market.— The highest, lowest and
closing quotations for leading options in the New Orleans
cotton market the past week have been as follows.
1^1-'
»-•
8-15
8-00
8-30
708
738
The
COaH'<10WQOI-'<O^Oa05l-'»»03t3lf^^OlO®t«>-'0«Ot3!0~JCJ<0»-'«>«
00
7';"
7h
7H
Little Rock..
w m to o m't-' orw'i^oo
M'ao^-''v•o^l-'to'c^-•^T'toco^^'lf^«e'XJ"o; w'co'cw
03tCN)C*'--13CO050DWOiiJi;0lOiyT0:O'j;^]CCK)«>0; vXi^i<>b3QCOCCC550
MOO
Louis. „..
Houston
K-
7'8"
7%
Memphis
•
7II8
759
738
753
708
768
77,6
758
7S9
Baltimore. .
Phlladelph'a
Augusta.....
St.
01
7h
Savannah...
Charleston
Wilmington.
Norfolk
Boston
O
SOH
1-4
OLOSINO QUOTATIONS FOB MIDDUNG COTTON ON—
Week ending
March 31
Sat'day. Monday. Tuaday. Wed'day. Thursd'y Friday
MobUe
V
[Vol. lxxx.
(Quotations for Middling Cotton at Other Markets.—
Below are closing quotations of middling cotton at Southern
and other principal cotton markets for each day of the week.
Galveston.
New Orleans
Bgg.pB*P»«e.
S P o f^
® » ? 2. *
H
tb.
—g §
p o
-
§q£2qS
^
5 • o N-'QD
f"
tOl-"
.
-
Apr.
THE CHRONICLE.
1905. J
1,
tation being ninety-two hundredths of an inch. The thermometer has averaged 83'3, the highest being 79*2 and the
lowest 45'8.
Mobile, Alabama,— We&ther in the interior has been fine
and farm work has made rapid progreas. Cotton planting
commenced in some sections. We have had rain on one day
during the week, the rainfall reaching forty-three hundredths of an inch. The thermometer has ranged from 53 to
76, averaging 67,
Montgomery, Alabama,— Fine, dry weather all the week
and good progress in planting has been general. Average
thermometer 65, highesr. 81, lowest 47.
Madison, Florida, We have had no rain during the week.
The thermometer has averaged 63, ranging from 45 to 81.
Savannah, G'eorflfto.— There has been rain on two days of
the week, ths precipitation reaching eleven hundredths of an
inch. Average thermometer 66, highest 80, lowest 51.
Greenwood, South Carolina.— Dry all the week. The thermomtter has averaged 59, the highest being 71 and the low-
—
Charleston, South Carolina, —There has been only a trace
on one day daring the week. The thermometer has
averaged 64, ranging from 51 to 78.
The following statement we have also received by telegraph,
showing the height of the rivers at the points named, at
8 A. M. March 31, 1905, and April 1, 1904.
of rain
Mch. 31,
Above zero of gauge.
Above zero of gauge.
Above zero of gauge.
Above zero of gauge.
Memphis
Nashville
Shreveport
Vloksburg
April
'05.
Feet.
Feet.
13-9
12-3
31-2
33-9
234
11-8
12-8
37-0
.Above zero of gauge.
1, 04.
1904-05.
at—
Beeeiptt
Bombay
Since
Week.
Sept. 1.
For the Week.
1
Since
Sept. 1.
84.000 1.659,000
Since September
1.
Mxporti
from—
€hreat
Britain.
Qreat
Britain.
Continent.
Continent.
Total.
12,000
27,000
29,000
13,000
36,000
29,000
14,000
68,000
28,000
182,000
534,000
488,000
196,000
592,000
516,000
2',000
l.OCO
3,000
3,000
17,000
14,000
20,000
18,000
17,000
23,000
2,000
8,000
4,000
12,000
25,000
9,000
14,000
33,000
13,000
Total.
1904-05..
1903-04..
1902-03,.
1,000
8,000
Oaloutta1904-05..
1903-04..
2,000
190203..
Madras—
1904-05..
1903-04..
1902-03..
11 others—
1904-05..
1903-04..
1902-03..
Total all—
1904-05
1903-04..
1902-03..
1,000
8,000
.
10,000
2,000
16,000
10,000
2,000
16,000
7,000
4,000
13,000
73,000
66,000
54,000
80,000
70,000
67,000
22,000
31.000
44.000
23,000
89,000
44,000
24,000
73,000
48,000
284,000
639,000
571,000
308.000
712,000
619.000
Alexandria Receipts and Shipments of Cotton.—
Through arrangements we made with Messrs. Choremi,
Benachi & Co., of Alexandria, we now receive a weekly
cable of the movements of cotton at Alexandria. Egypt.
The following are the receipts and shipments for the past
week and for the corresponding week of the previous
two vears.
Alexandria, Egypt,
March
1904-05.
29.
Receipts loantars*)—
This week............
Since Sept. 1
140.000
6,4b4,099
Exports (bales)—
Liverpool...
Manchester
Continent..
..
America.
Total exports
1903-04.
1902-03.
55,000
6,260,753
30,000
5,674.365
This
Since
week. Sept. 1.
This
Since
week. Sept. 1.
Since
This
week. Sept. 1.
1,000 168,20=1
1,750 110,619
4,000 225,768
2,750 55,558
4,760 187,026
111,638
6,750 258,098
600 43,022
3,614 181.051
4,419 130,428
3,.^ 18 243,285
1,411 72 439
9,500 560,150 12,100 599,684 12,962 627,203
A cantar Is 98 lbs.
—
Manchester Market. Our report received by cable
to-night from Manchester states that the market is qniet for
both yarns and shirtings. Spirners are considered to be
well under contract.
give the prices for to-day below
and leave those for previous weeks of this and last year for
We
comparison.
75,3.'<3
194,485
linters),
Total
and
States
TTpland.
.
Territories—
>
Square Round
running
bales.
bales.
by
Sea
Island. ^Squiv. sao-lb.baUs—,
bales.
1904.
bales.
1903.
Alabama... 1,458,968 1,437,710 2l,256
1,445,133
886,221
Arkansas...
883,«67 882.668
1,299
912,760
734,593
Florida
86,642
47,023
78,2-8
39,619
.^2,386
Georgia
1,960,1.M 1,896,20^ 10,740 53,112 1,879,744 1,267,364
Indian Ter.
476,984 445,145 31,839
469,015
a?8,347
Kansas
14
14
14
75
Kentucky..
1.922
1.922
2,005
897
Louisiana.. 1,105,466 l.0?>4,59l 50,875
1,08^,8 '1
824,965
660
1,762,766
50,519
l,432,7i(6
13,342 515
9,851,129
37,813
743,404 743,404
697,452
623,707
341,497 320,043 21,454
330,755
186.689
1,189,1311,177,648
11,586 1,147,379
787,425
316,790 315,412
1,378
325,103
248.9»6
3,134,677 2,978,017 156,660
3,139,516 2,471,081
17.216
17,216
16,195
13 074
Texas
Virginia....
Un. States. .13,503.916
for the
13,103,447
above
296,151
statistics
104,317
have been collected through a
canvass of the individual ginneries of the cotton States by local
special agents, who lound that 30,337 ginneries had been operated for
the crop of 1904, compared with 30,218 for 1903. In the final canvass
for this crop where ginners had not flnlBhed glnnlug they were
requested to prepare careful estimates of the quantity of cotton which
remained to be ginned at their establishments; these estimates,
amounting to 192,275 running bales, have been Included in the totals
of the above table.
The complete annual report on cotton-glnnlng, distributing by
counties the production ef the last five yeats, will be published about
May 1.
Very respectftilly. W. M. Stkuakt,
Approved,
S.
N. D. NOBTH. Director.
Cotton Consumption and Overland Movement to Apr.
present a synopsis of the crop movement for the
month of March and the seven months ended March 31 for
three years.
1904-05.
S^
lbs. Shirt-
32« Cop. ings,
Tioist.
d.
to finest.
8.
d.
SHlbs. Shirt- Oott'n
32s Oop. ings, common Mid.
Twist.
Upldt
Uplds
to finest.
Oott'n
common Mid.
e.
d.
Fb.24 7H '99^ 3 U^ffQ 10
Moh.3 7H »8»« 3 Ilia 6 10
••
^6 10
10 738 ®8^ 4
d.
d.
s.
d.
8.
10% 6 4i2«9
410 IOS9* 11 6 9
419 1H4J«>111S 6 9
'99
4-81
•a>9
'3)9
4
1
1
»6
06
1
aeilifl 4-28
11ifl
llifl
d.
4-17 10i«®
©838 4
®838 4
'»838
1903-04.
1902-03.
bales.
171,128
153,466 119,153
Qross overland for March
QroBB overland for 7 months............ 1,102,976 1,044,668 1,260,796
143,28S
111,604
88,181
Net overland for March
911,794
875,059 1,011,933
Ket overland for 7 months
713,294
280,828 457,224
Port receipts in March...........
Port receipts in 7 months
7,705,280 6,696,712 6,992.269
292,821
758,017
632,342
Exports In March...................
Exports in 7 months
6,352,729 5,233,674 5,909,060
462,810
647,598 555,405
Port stocks on Marcn 81
Sorthem spinners' takings to April 1...
Southern consumption to April 1
Overland to Canada for 7 months (included In net overland)
..
Burnt North and South in 7 months
Stock at North'n interior markets Apr. 1
Came in sight during March
/Lmotmt of crop in sight April 1.........
Came in sight balance season......
1,695,274 1,946,080 1,798,397
1,272,000 1,244,000 1,226,000
75.108
22,370
7,924
1,030,257
6i,289
86,S88
263
170
5,493
10,502
460,432 614,355
10412752 9,080,771 9,396,201
1,012,915 1,362,125
10133686 10768326
Total crop............
Average gross weight of bales
Average net weight of bales
514-22
49200
607-78
488-88
508-57
4S7-63
Jute Butts, Baggikg, &c.— Tbe market for jute bagging
has been very dull the past week.
changed at e%c. for
1^
lbs.
Prices are Lominally un-
and 6%o. for 2
lbs.,
standard
grades. Jute Dutts also dull at \H®^%^' for paper quality
and 2(g2J^c. for bagging quality.
Shipping News.— As shown on a previous page, the
exports of cotton from the United States the past week have
reached 176,663 bales. The shipments In detail, as made up
from mail and telegraphic returns, are as follows:
Total bales.
New Yokk—To Liverpool, per steamers Baltic, 699...Georgio,
.^86 Beals'.and
1904.
1078 111114 6
8
4 28 10M)®lli« 6
6
8
ICs®
1138 6
-319
'99
d.
d.
IJ3
6
9
7-62
8-32
8-78
7%
8
6
7-73
8
828
24
1.
—Below we
2.099
L.'ioo
1905.
" 17 7Hi
" 24 7^
" 81 7^
9,869,472
770,203
and Territories
To ManchPBter. per steamer
d.
10,399,558
Chief Statistician for Mannfaotares.
Bombay—
*
10,014,4.54
10,045,ttl4
Distribution
Square bales (upland) reported from ginDerles.13.103,447
Round bales (upland) reported from ginneries.
296,151
Bales of 8. lel'd cotton reported from ginneries
104,317
Bales of linters report, from cot.-seed oil mills.
241,942
The following table distributes the crop (exclusive of
The data
Week.
Sept. 1.
63,000 1,372,000
67.000 1,650,000
Sept.
The
,
18,59 ,782
13,584,457
13,745,857
Equivalent 500-lb. bales (Inoludlng linters)
Total running bales (including linters)
S.Carolina.
Tennessee..
1902-03.
1903-04.
Since
Week.
To
To
To
To
Including linters
Oklahoma..
Movement peom all Poets. —The receipts
Bombay and the shipments from all India ports
-
.
N.Carolina.
India Cotton
from
Report on Cotton- Qinnino.
Bureau's
Census
Mlasissipoi. 1,738.638 1,737,988
Missouri....
48,447
48,447
129
362
of cotton at
for the week ending Mch. 30 and for the season
to Mch, 30 for three years have been as follows.
1249
Division of Manufactures in the Census Bureau completed
and issued on March 28 the final report on cotton-ginning the
present season as follows:
WA8HIKOTON. 12 M., March 28, 1905.
Hon. S. N. D. North, Director of the Census :
I have the honor to submit the following summary of the final report
on cotton ginning for this season, chewing th^i t >tal cotton poductlon
of 1904. accompanied by comparative erailstics for 1903:
The total crop reported from ginning establlehments and oottou-eeed
oil mills is Bummarized as follows:
Crop ofTotal crop, counting round as half bales, and
1904.
1903
States
est 48.
New Orleans
:
Tintoretto,
757 upland and
1,343
292
To Glacgow. per fteamer Columbia. 292
La
To Havre, per steameis L^ Bretagne. 78 Sea Island
577
Gascosne, 293 upland and 206 Pea Island
616
To Bremen, per ft««mer» Barbaroesa. 550. ..Oldenburg, 66
100
To Lisbon, per steamer Per.in»ular. 100
892
To Genoa, per steamer Prlniess Irene, 892
6(M)
To Naples, per steamer Prinzes^ Iren^. 60O
250
To China, per steamer Daghe^tan, 250
New OttLEANK To Liverpool— March 27— Steamer Barbadian,
24,630
r.,000.... March 28-8teamer Wayfarer, 19,630
To Man cheater -Mar oh 29— Steamer Manchester Spinner,
lO.OCO
10,000
—
.,
THE CHRONICLE.
1250
[Vol. lxxx.
New
TotU bales.
0&i,s\Si—( Ooncludei)—
The prices 01 futures at Liverpool tor each day are given
1,412
To L cdon— March 25 -Steamer Manhattan. 1.412
below, Prices are on the basis of Uplands, Good Ordinary
To Havre— March ?5-Bteamer CalUornlan, 4,004
6,887 olanse, unless otherwise stated.
March 30— Steamer Mirkomannla, «.833
147
To Mirsellles M<roh 30 Steamer 8rej. 147
tW" 'Fhe prices are given in pence and lOOtA. Thui: 4 09 wuan$
6,902 4 09 lOOd.
To BremPB— March 25 Steamer Manhattan, 6.902
186
186
March
Steamer
O'iStano,
Hamburg—
25—
To
780
To Botierdam March 80— Steamer Masoonomo, 780
mon. Tues. TTed. Thnra. Fri.
Sat.
To Antwerp March i.5— Steamer Callforalan, 2,230
4,303
March :jo— Steamer KeDtnoby,2,OJO
Mch. 26. Mch. 27. Mch 28. Meh 29 Mch. SO Mch. 31.
700
To CopenhagHn March 29— Steamer Kentucky, 700
300
To Stettin -March 30 Steamer MascoDomo, 300
L2i«
1 12% 4 12% 4 12% 4 12% 4 12% 4
4,010
To Barcelona - March 29- Steamer Sloanla, 4 010
P.M. P.M P.M. P.M. P.M. P.M. P.M. P.M. P.M. P.M. P.M. F.M.
4,697
To Genoa-March 29-8teamer Sloanla, 4,697
2"6
To Trleate- March 30—SteattierSrsj, 2~6
d.
d.
d
d.
d
d.
d.
d.
d.
d.
d.
d.
323 March
To Venice M^rch 80-bteamer Sr»J, 323
(09 4 104 05 4 05 4 OP 4 08 i 04 4(8 411 4 09 4 11
900 Moh. April. 109 4 loUO'. 4 05 4 09 4 08 4 04 4 08 4 10 4 09 4 11 4 13
To Mexico-March 25 Steamer Norhelm. 900
©ALVE8TOH— To Liverpool— March 25 - Str. Albanian, 6,617
April May
t08 4 10405 4 05 4 09 4Ci- tot 4 08 4 10 4 09 4 11 4 13
17,7til
March 30- Steamer Magician. 11,144
4 13 4 12 4 14 4 16
May-June... i 12 4 18 4 03 4 08 4 12 4 U 107 4
5,508 June- my.
To Manchester- March 24-bteamar Satnrnlna. 5,508
la 4 15|4 10 4 lu 4 14 4 13 109 41i 4 15 4 14 4 16 4 18
March
To Havre March ^5 -Steamer Mohawk, 13,625
t 14 4 184 11 4 11 4 15 4 14 4 10 4 14 4 17 4 te 4 17 4 19
July-Ang.
19,270 Aug -Sept
29— Steamer Mvnteagle. 5,615.
4 164174 12 4 12 4 16 4 15 4 12 4 12 4 18 4 17 4 19 4 21
To Bremen March iS -Steamer Dnrango, i,9S2 -,. March
Sept -Oct.. 417 4 184 13 4 13 4 17 4 16 4 13 4 16 4 19 4 18 4 20 4 22
32,053 Oot.-Nov-.. 1.8 4 194 14 4 14 4 18 4 17 1 13 4 17 4 19 4 18 4 20 4 22
29 Steamers Borbum, 10,437; Monteagle, 9,664
1,888 Vov.-Deo. .. 1 1« 4 204 15 4 15 4 18 4 17 t 1* 418 4 20 4 19 4 21 4 23
To Hamburg-March as—Steamer St Croix, 1888
800 Deo -Jan
To Rotterdam -March 25 Steamer Durango. 800
1 19421 4 16 4 16 4 19 4 18 t 15 4 19 4 21 4 20 4 22 4 24
3,279 Jan.-Feb
To Antwerp March 24— Steamer Penrith Castle, 8.279
4 20422417 4 17 4 20418 4 16 4 20 4 22 4 21 4 23 4 26
lOO
To Oporto-March 30— Steamer Magician, 10 J
i50
To Mexico March 25— Steamer DaKtln, 150
6,760
Pembaoola- To Liverpool- March i!8-8ieam6r Ida, 5,760
Batannah— To Bremen, eto.-Mch. 25— Str. Werdenfela, 6,964
9,831
,
....March SO Steamer St. Andrew, 2,877
To Hamburg March 25—Steamers Lenctra, 894; WerdenFriday, March 81, 1905.
-
-
U
—
I
1
.
BREADSTUFFS.
—
fele,
1,100
Wilmington— To Liverpool -March 23-8tr. Greatham, 7,8(38.
Boston To Liverpool March 21 Steamer Bohemian, 529
March 2a— Steamers C*nalian, 52 MlohigatJ. 979
Baltikobe— To Liverpool -March •/4 Steamer iLdore, 4,073.
To Bremen March 29— Steamer Oaasel, 00
To Antwerp— March 22— Steaaer GorB.=more, li">0
Philadelphia -To Liverpool— Mch. 25— Steamer M.-rlon, 174.
Sam f rahoisoo- To Japan— March 28-8teamer China, 676
1
;
1,994
7,868
2,029
4,073
100
100
174
676
176.633
for the week
Total
The particulars of the foregoing shipments
arranged in our usual form, are as follows.
Great French Qer- ^Oth.E'rope—^ Mexico,
Brifn. ports. many. North. South. die. japan. Total.
577
616
1,592
250
3,*34
6,769
900
66.450
36,042 7,034 7,088 6,080 9,806
100
150
23,269 19,270 23,941 4,079
70,809
5.760
6,760
200
11.825
10,225 1,400
c
New York.
N. Orleans.
Galveston.
Pensacola.
Savannah
.
Wllm'g't'n.
/•OOO
Boston
Baltimore.
2,029
4,073
Phil'delD'a
174
San
••• •*•
100
•
>••
•
"'."
"67"6
•
«>««
*•
100
Frail..
Total.... 82.849 26,83141,970 11,659 11,198
/fODO
^fV««7
4fi!>fO
676
676 176.633
1.300
A dragging market has been experienced for wheat fljur.
0<Ylng to the declining tendency of prices for the grain, buyhave shown practically no interest in round lots,
they limiting their orders to such supplies as they have
needed to cover their immediate wants. There has been no
pres&ure to market suuplies, mills still showing confidence in
the situation and holding for unchanged prices. City mills
have been quiet. Rye flour has baen dull. The market for
buckwheat fl^)ur is practically over for the season. Cornmeal has had a moderate export sale; prices have been easier.
Sceculation in wheat for future delivery has been fairly
active, but the tendency of prices has continued downward,
the weakness of values being most pronounced in new-crop
deliveries.
The advices received from the winter- wheat belt
have quite generally reported tha winter-wheat crop in a
promising condition, with weather favorable for its steady
improvement. In the Northwestern States the weathsr has
permitted rapid progress in spring ploughing and seeding,
thus showing that the spring-wheat crop is receiving a
ers of fljur
The exports to Japan since Sept 1 1904, have been 170,371
bales trom Pacific ports and 1,0C0 bales from New York.
The present favorable climatic conditions
good start.
Cotton freights at New York the past week have been tor the new crops have been the principal depressing factor,
,
.
as follows.
prompting considerable fear pressure from speculative interThere were reports of offerings of No. 3 red winter
wheat from some sactions in the West supposed to be exhausted, these holdings evidently being brought out by the
good prosp xts for the growing crop. European advices have
reported easier markets, icflaenced by the good crop news
from this couatry. The spot market has been easier. At
the lower prices a limited export business hes been transThe spot
acted. To-day the market wa3 quiet but steady.
market was unchanged.
DAILT OLOBINO PRICES OF WHEAT FUTDBBS Df NETVT YORK.
ests.
Liverpool
SatHr.
JIfon.
Tuet.
14
16
20
20
26
12
14
16
20
20
26
12
14
16
20
80
26
12
..£
Uanoheet«r
',.
e.
Havxe
,.c.
Bremen
Hamburg, aBked.5.
...c.
Antwerp
Wednet. fhurs.
14
Fri.
14
14
13914 13014
20
80
13'3'14
20
20
25
12
26
12
20
20
25
12
18i«
18%
18%
18»fl
29«30 29 930 29'ai30 29®30
29O30 29^30 29930 29O30
18ifl
Qhent, V. Antw'p.e.
18»fl
Beval, Indirect. .e. 29OS0 29 9 SO
Beval. via Canal. e. 29330 29®30
22
22
Barcelona. April. c.
15
16
9enoa, March... e.
Trieste
23
c
23
40
lanan (via 8nez).f
40
Qauiatlone are cents per 100 lbs.
22
15
23
40
22
15
23
40
22
15
23
40
22
15
23
40
delivery In elev
luly delivery in elev
Sept. dellv. in elev
Mch 17
Mch. 24
1
bale:'..
Of which exporters took.
Ot which specnlatorB took.
.
Bales American.....
Actual export.................
Forwarded
Total stock- Estimated
Of which American-Eflt'd.
Total Import of the week.....
Of which American.....
Amount
afloat
Of which American
81.000
2,000
1,000
48,000
7,000
60,000
871,000
801,000
41,000
36.000
181,000
141,000
«
2,000
4riooo!
61 000
12,000
73 000
854,000
777,000
68 000
47,00c
191 OOt
153.OO0
42,000
7.000
76.000
843,006
772,418
71,000
61,000
172 000
65,001
»
44,000
1,000!
1.000:
1410001
41,000
15 000
71 000
812 000
73o 0«0
54,001
£6,000
223 000
1S7,000
The tone of the Liverpool market for spots and futures
each day of the week ending March 31 and the dail;? closing
prices of spot cotton, have been as follows.
Spot.
Sat'day.
Monday. Tuesday. Wed'day. Thursd'y Friday.
Market, )
12:30 F.if.|
Qntet.
Moderate, Moderate Moderate Moderate Moderate
demand. demand.
demand.
demand.
demana.
Dpl'dfl.
426
4 21
4-25
4 21
4 28
428
Sales
Bpeo. &exp.
6,000
8.000
7,000
8,000
8 000
8,000
500
500
500
600
600
500
Mid.
Futures.
Market
opened.
Market,
4 p. M.
)
Jnlet at
2(33 pti.
Unlet at
4 ptB.
8 pta.
6 ptB.
\
deollne.
decline.
advanoo
deollne.
Ontet.
nnch. to
Qniet at
I
1 pt.
dec.
5 pts.
decline.
Quiet at Steady
Claiet at
pti.
313.3
»d»ano«.
at
Steady,
anch. to
1
pt.
adr
SteadT
at
2e8 ptB.
tdranoe
Steady
\a2
Bl
ptn.
advance.
Steady
Bl
2 pti.
advance.
ateady at
Sji4
116
Ill
9588
88
DAILT OLOBIKO PBIOBB OF
May
Meh. 10,
weak
f.o. b...
May
LiVBBPOOL.— By cable from Liverpool we have the following
atitement of the week's sales, stocks, &c., at that port.
Baits or sho
Sat.
No.2redwlnter,
pt«
advanco.
deUv. In elev
July deUv. vii eiev
Sept. delivery In elev....
Mon.
Tues.
115%
110%
114%
109%
93%
86%
9488
8738
WRBAT FUTUBBB
Sat
Mon.
113%
90%
112%
84Bb
Wed.
Thurs.
Fri.
114%
115%
11 1%
lieog
93%
111%
93%
86'8
Se'e
10**%
93%
8688
IN
Wed
Tues.
112
89''8
88%
84%
m'-is
OUICAOO.
J1298
88%
83%
Thurs.
11288
8838
8338
fri.
113%
8838
88%
Indian corn f otures have been moderately active but at
lower prices, The movement of the crop has been on a
fairly liberal scale, the receipts at the primary markets running in excess of the ehipmenta. The advices received from
i.he West have reported some pressure to sell against the
supplies coming into sight, and values weakened. Sympathy
twith the declining tendency to prices in the wheat market
also had a depressing effect. Toe advices from the Sjuthwest report the weather favorable for farm work, thus foreshadowing an early planting, la the Middle West, however,
ploughing is being dalayed by wet wea'her. Tbe spot market
has been wctker, but at the lower prices business has been
active, exporters being free buyers. To day there was a
steady maiket. The spot market was quiet, exporters with-
drawing as buyers.
NEW YORK.
DAILT OLOBIMQ PBIOBS OF HO. 2 MIXED OOKH IK
Tues.
Wed.
Sal.
Mon.
58%
57%
69%
59%
Cash corn f. o. b
5488
6438
5388
53
Mav delivery In elev
54%
53%
64%
July dellv. In elev
DAILY CLOSING PBIORS OF NO. 2 MIXED OOKN
Mon Tues
Sat.
4883
iTfe
49
May deU very In elev
48%
48%
49%
July deU very in elev
49%
49
48%
eept delivery In elev
52'8
IN
Thurs.
67%
52''8
52%
Frt
67%
63%
53
CHICAGO.
Wed
Thurs.
Fri.
47%
47%
47%
4789
4738
4788
4738
4788
47''8
Oats for future delivery at the Western market have been
moderately active, but at lower prices. The movement of
the croD has been fairly full, and this, coupled with the
fovorable conditions for the new crop, has prompted modcrate selling of futures from speculative interests. The spot
market has been quiet and easier. To-day there was a
steadier mttrket.
•
.
APR.
2<7o.
DAILT CLOSIHO PBIOBS Or OAT8 IH NElPr YORK.
Wed. TKurs
Mon. luet.
Sat.
Nom. Nom
38
Nona. Nona.
2 mixed In elev
Nom.
Following are the closing qnotations:
FLOUB.
Patent, winter
$5 60 «5 80
*2 90 ®3 10
City mills, patent. 6 15 <o6 70
3 25 -313 40
Superfine
Rye floor, superfine 4 36 ©4 95
3 40 «3 60
Extra, No. 2
Buckwheat flour.. Nominal.
3 60 ir3 76
Extra, No. 1
4 00 -©ISO
Com meal—
Clears
Western, etc.... 2 75 «2 85
5 15 «5 25
Straights
Brandywine
2 85 92 90
Patent, Bprtng..... 6 75 ©6 65
irine....~«.
OBAIN.
White
No. 2 mixed...
No. 2 white..........
Com,
0.
c.
f.o.b.ll7»e
f.o.b.lllifl
f.o.b.
ll'Og
o.b.Nom,
86 937
37 a40
Nominal.
Nominal.
f
per
bush-
0.
Western mixed.....
No. 2 mixed
No. 2 yellow
No. 2 white
Rye, per bushWestern
.
State and Jersey....
Barley—West
Feeding
.........
c.
•5714
50
b.5714
1.
o.
f.
o.b.Nom
o.b.Nom
1.
1251
moment the statistical position is very strong.
lines of drills are sold up to next August and a good
the
Fri.
Nom.
No. 2 white clipped f.o.b. Nom. Nom. Nom. Nom. Nom.
DA.ILT OLOBIHO PBIOSS OF NO 2 MIXED OATS IH CHICAGO.
Tuf.*.
Wed.
Sat.
Mon.
Thurt. Fri.
S0i«
29<ie
2938
2914
2938
SO^a
May delivery in elev
30i«
2J<>8
2^38
2914
2938
30 Sa
July delivery in elev
28C8
2808
28%
2914
29
28%
Sept. delivery in elev
N. Dal., No. 2
Red winter, No. 2..
Hard winter, No. 2.
Oats— Mixed, p. bush.
.
THE CHRONICLE.
1, 1905.]
Wheat, per bush—
N.Dnl.,No.l
W
81 984
Nominal
46 ®55
40i«'941
Certain
demand
Th^ domes-
from the home trade for that month
is reported.
for light-weight sheetings has been good and has
comprised 4 SO-yard goods and lighter. Reports of 3-yard
sheetings sold for export as far ahea-l as next February have
been heard during the week and orders from this source are
in the market for almost any goods suitable for export that
can be delivered before O jtober. Bleached goods are becoming continually scarcer and buyers are ordering more freely
Dacbs continue to be taken for export
for prompt delivery.
Ticks hav^) been sold for fall delivery
in moderate quantities.
and an advance in these la shortly expected. Denims have
been sold through July and other coarse, colored cotton goods
are expected to feel the effect of the diversion of machinery
Canton flannela ani cotton blankets
to coarse yarn goods.
have been freely taken and prices remain firm. Kid -finished
cambrics are comparatively qaiet but unchanged. Staple
prints have been fairly active, out fancies have been quiet.
Some low prices have been made on staple ginghams without
attracting much business; but dress ginghams have been
well take a and stoclis are in good condition. Print cloths
have been quiet, with manufacturers afraid to contrast far
ahead, owing to the uncertainty of the labor situation.
tic
demand
Woolen Goods —la the woolen-goods division this is the
between-the-saasons period and the meo's wear market has
Mills are extremely
therefore been comparatively dull.
busy turning ou'i the goods that have bean purchased and
agents are actively taking care of deliveries; but new business has been insignificant. O /ercoatings have been in better damand during the week and staple goods are in mush
bushels barley.
greater favor than fancies, While there has been rather more
Comblnmg these figures with those for previous weeirs, Wc active buying of dress goods, the market situation is little
have the following, which covers the exports to foreigi changed from a week ago and the bulk of the orders is now
countries for the period since July 1, 1904, comparison being coming in from the small and medium-slzdd factors. Prices
made with the corresponding period of 1903-04,
have bee a firmly held and present indications are that full
Barley,
Bye, rates will be maintained during the whole of the season.
Wheat,
Corn,
Oats,
flour.
Mxporu
bush.
bush,
bbls.
bush.
bush.
bush.
from—
The feature of the market is still the demand for creams,
854
San Fran. 650,635 1,617,441 126.673 148,538 3,225,532
412 and buying of these has been on such an extensive scale that
60^225
Puget 8'd. 976,664 1,387,875 26,470 151.952
Portland.. 608,652 1,483,760
246,656
627,035
considerable difficulty is likely to be experienced in making
delivery of those that have been sold. Serges are in good
1,26^
TotaL... 2,034,961 4,489.0"'6 162.348 647,146 4,457,812
375,379 8.736,280
1,422 demand, but cheviots fail to attract many purchasers. Cashlot. '03-4.2.868.954 5,568.467 So,365
meres and Henriettas have sold well, as also have checks in
t^" For other tables nsually slven here aee paire 1314.
Panama weaves.
Foreign Dry Goods— The outlook for a satisfactory season in imported woolen and worsted dress goods is exceptionally bright, but buyers are in no hurry to place their
New York, Friday, P. M., March 31, 1905, orders.
Silks have been quieter but steadily held. Ribbons
Domestic buyers of cotton goods have during the past have baen in fair request, Th^ heavy demand for dress
week shown a greater desire to anticipate their future re- linens continues. Burlaps are sieady at recent figures.
quirements, the result being that business has been on a Importationaand ^Wareboase WitIidrai«^al8ofIDry Goods
somewhat larger scale and prices have been firmly held,
TheImpor£ationsand warehouse withdrawals of dry goods
There have been no indications of anything in the way of at this port for the week ending March 30, 1905, and since
Bpeculation, but the current level of prices is apparently January 1, 1905, and for the corresponding periods of last
sufficiently satisfactory to buyers to induce them to place year are as follows:
orders for fall goods now, rather than risk the possibility of
not being able to obtain the necessary delivery later on. It g to
§ to
§
has been mainly this difficulty in securing tha required de^2
livery of goods, owing to the scarcity of many lines, that has
S
B
brought about the change of sentiment, and a favorable
<s
A
i
a
9
3
e>
§:
Ht
R
S
feature of the recent tradiog has been the increased confi*
0:
Si:: S
3>
g! il! S
dence with which Southern buyers have operated, Tne
s
?
B
cotton market is bring carefully watched and buyers have
i!
iiiiiT
*
•ol
XS»
been impressed with the fact that the publication of the
et-i
rti-'
...
ts':
0?
gtoners' report dariog the week has had no weakening eflfeo;
to
M
M 000 OS
on Southern holders of cotton. The am aunt of export busi- 00
§ -a
c;<
^ © tStOMkO
* ^^
"l^
0« 5!
00 00
ness passing at the present time is very small, but there are V 1^0 OSl^Md^CO
Vo
aocctoc>3to
*>
^^
woa'toy
ow
u
C. © -1
00
to
M
o-< l^t3C0O5 9<
S^
still some inqairies in the market, and if a satisfactory deliv»0« ® 10© vj^
® 03 -a o<>ow*»
to
tOMOO — tn
to
ts
to
ery conld be guaranteed business on certain classes of sheet- w to
-^
MH (-"H" M b
MM
Ml^OOvltO
D>.W
A
n
8
ings could doubtless be consummated. The probability of b OS -J tsoco —
osw 06 55ll»O -J no OS -J 05 35 to W
a
SK 1•"^eotoxoi
M^ as
H » vj-' l«-lf>K]W'^ W -J OS *» 05 »«
peace being declared at an early date is being seriously con- <M ^a»
H
<>•«-•
COIBCO©!*}
l^MsowVi
2*
^^
0!
OS a
CO
C6 03
^^
^
^ 00 if^O^itoto
I^O-'VOO w
D^
CO®i^O» js
00 r^
sidered, and it is believed that when this is accomplished W 00
cncoi^O-a
COtS
® oia,oo®to
»
00
COif^
'O vj ®
there will be a marked renewal of activity. In the woolen
»
D
goods division, dresa goods have been more freely taken and 10 M
w.
so
Da
" i
w
m 01 c»totacoM
»>
OS
o>® •I
C7<IC
z
?r
sellers report satisfactory progress.
$
w M lf>.0S vj a. cc »1
KOi^eOUiM
> f. vafJ3<i!>3
>^«0
M*. <k ^;o
M
OS
a
5Di-'W0Ci-'
v>
05®
^
Oii^
"-J 3; WWOD
Domestic Cotton Woods.— The exports of cotton goods <t C5=> OXh- i.u<I ^ ® aw *> w w x to
35
OC*2ta»-»
<»
M®OlO.O
05 M t3 01 (X
OS
^
from this port for the week anding Mar. 27 were 4,758 to I^OO OaD'^i«-S3
CD
^
*•
CO
t^t-t
packages, valued at |819,291, their destination being tc the ^ 03
CO
B ». C^IOS
MWM
MtOM u y> to *- ts >- 05 T^ M K
va
points specified in the tables below:
O:
OD to at 0;
OS® CDOM w ©
© ® iM 0^3
r1 w
M ooo
•^ CO
a « M CO co«e ?
woo «^o<xosc<
05 <1
touxxio-.o
ro
® ^ts
vl
—
<oatJ'j<ta
V tc -J«^
•O-J
ost-*ao;nM
XQD
s
^
©
1905.
1904.
''
w
tet>»M a>0^c«3
®<JeocncD
CK
z
Nbw Yokk to Mak. 27.
vl
© OD®oMao
v|M«3 W
GOOlCDM-4
o-o vJvlvj^CO
^ OlCw
d
O3nc»o
ij
^ Ol(* ^*-tOOi<X) a ©_
Week. Since Jan. 1. Week. Since Jan. 1. 00 000 i^»jai»*.
Exports of Grain and Flonr from Pacific Ports.—The
exports of grain and flour from Pacific ports for tie week
ending Mch. 30, as received by telegraph, have been as follows:
From San Francisco to varions ports, 8,021 bbls. floor, 700
bushels wheat, 120,000 bushels barley, 8,< 00 bushels corn and
ZO) bus^hels oats; from Seattle to Pacific pjrts, 180,000
THE DRY QOODS TRADE.
Silk
Bilk..,.
Flax
Flax
Sliscellan
Wool
Cotton
Flax....
MiBcellan
Cotton
Manufaot
Wool...
811k
Miscellan
Manufact
Cotton
Wool...
Manufaot
•
B
...
...
i
•
•
I
;
•
I
•
1
1
(
:
.
•
<
:
•
'
•
:
:
:
;
<S)
;
'
I
[
i
t
!
1
1
!
.
B
i
•
1
•
'
,
iUiJT
:
•
:
<
:
:
:
III
1
;
•tj
IT)
CJl
'iF^
1(^
lb.
lb.
lO"
c;"
tf^
It"
(-•
>-t
!•/<
-.0
*>•
1*-
lf>'L-0
.-.
tf>-
,
If-
(j<
!->
2
Great Britain
Other European
China
India
Arabia
Africa
14
3
1,191
West Indies
Mexico
Central America
South America
Total
The
„
...
New
2
7
3,073
13
1,299
1,019
"677
36.H22
4.613
2.632
1,935
6,787
61
658
257
1,806
826
4,155
15,874
4,015
4,758
77,396
1.739
Other Countries
232
172
32ti
167
379
22,798
3, "66
9.155
2.818
4,932
>>
rO
<1W
~I
i^CO
>
*af
W
320
3,549
14,621
3,104
8,251
65,367
~.\
©'cio«bw
to -1
at)
M
n
-a CO
~l
w * m i" -J
[^ta3S*-M
M
-*
©
MtO<>>tO"-
jOOj
t,
vfilue of these
York exports since Jan, 1 has been
14 161,402 in 1905, against $3,400,124 in 1904.
The greatest scarcity still exists in heavy brown drills and
sheetings and prices have beid correspondingly firm. It is
probable that the conversion of machinery from other classes
of goods to these may relieve the situation later on, but for
OOOSMXCO
OS W
h- O!
cnocooo<
(-'H'
'1I
558
27
859
CO 01
p
05«oV
loin
m'>3
QC
«o
o>eo
to ffi ^^ >-' to
to to to to OD
CO
M
a
r*
OJ
03
iTl
W
000
ta
.>OM
apt
toV
r-O
cots
OS 05
00 <I
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viae
CBVVltS
a<x A vita
M-OO -JK)
«j 06
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C to
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H «
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IS
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to
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MtOM
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bVjMOOM
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ovto
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00 01 toot 00
l»>0S
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tow >)Od^
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li'CXO'OD®
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05C«;OC5 —
® 05 to
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31 w v:
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S £4
MS, >
®s- Z
-
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as
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12
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.
———
—
—
:
THE CHRONICLE.
1252
m^
gT^m
OiTY
^tffinwtnt*
News
Japan.
Items.
New Lean Overscribed, — Messrs.
Kuhn, Loeb
&
Co., the Naiional City Bank and the National Bank of Commerce, the syndicate in charge of the American allotment of
one-half of the new £30,000,C00 i}4% 5 20-year (optional) coupon
Japanese loan, opened boobs for subscriptions on March 29
and closed the same on March 80, the loan having been sevThe loan was offered at 81 ^i%
eral times oversubscribed
and interest payment to be made as follows :
On application. $25 00 per £lon bODd On May 25, ;i905.t394 21 per £100 bond
On April 25, 1905.. 26 00 per £lOO bond
ZTrrzr per £100
^,^^^
bond^
.
.
.
I
f 444 21
Total
The loan is secured both as to principal and interest by a
first charge upon the anrual net revenues of the Imperial
The estimated
Japanese Government tobacco monopoly.
net revenue from this source is 32,011,072 yen, which, at the
exchange of two shillings and half-penny per yen, is equal to
£3,267,796 18s. 8d. Other interesting features of this loan
will be found in the advertisement on page xv published in
the Chronicle by the syndicate as a matter of record,
Hartford, {)ona.— Consolidation of School Districta.—The
Mayor has issued a call for a city meeting to be held April 8
to vote on various propositions, among which is one to consolidate the various school districts now contained within
the limits of the city of Hartford.
Kansas.— Cities Authorized to Issue Bonds.— The State
Leglelature has paesed a bill authorizing cities of the second
and third class to issue bonds to the amount of the existing
floating indebtedness to take up orders, warrants and ecrlp
as outstanding at the time this Act takes effect. Denominations not less than |100 nor more than $500, Interest, not
exceeding Q^, payable semi-annually in New York City.
Maturity within twenty years.
Another Act authorizes any city of the first class of over
50,000 population to issue bonds to pay off judgments. Interest is limited to 43^<? and maturity to 20 years.
Maryland.— Sa<e of Rank Stock.- Oswald Tilghman, Secretary Board of Public Works, asks for proposals until 12 M.,
May 31. for 1,054 shares of the capital stock of the Easton
National Bank of Maryland held by the State of Maryland.
Certified check for $6,000 required.
New Jersey. Legislature Adjourns.— The Legislature of
this State adjourned about midnight on March 30, 1905.
Pittsburgh, Pa.— Greater Pittsburgh Bill Passes senate.The State Senate on March 28 passed the bill permitting the
annexation of the city of Allegheny to the city of Pittsburgh.
Sterrett Township, Allegheny County, Fa.— Annexation
Election.— An election will be held in this township on May
16 to vote on the question of the annexation of the township
to the City of Pittsburgh,
Bond
tested in the courts.
H
Bank
1898.
OalTeston Connty, Texas.— Cowpow Payment.— J. M. O.
Menard, County Treasurer, gives notice that all coupons due
April 10, 1905, on the eea-wall and breakwater bond?, general
fund scrip bonds and the road and bridge scrip funding
bonds of Galveston County will be paid on presentation at
the Guardian Trust Co. of New York City or at the Texas
Bank & Trust Co. of Galvestion. See official notice among
tbe advertisements on page xiii.
Logansport, Ind. Bonds to be Redeemed.— Thla city on
May 1 will redeem $50,000 5% outstanding school bonds.
Bond Proposals and
week have been
Neo^otiations
See V.
80, p.
1070, for details of the
issue.
Atcliison (Kan.) School District.— Fond Election Proposed.
School Board desires that an election be called to vote
on the question of issuing $55,000 high school-buildirg bonds.
fiarberton, Ohio.— .Bond tiale,—Oa March 27 the flve issues
of 5^ bonds aggregating $27,018 described in V. 80, p. 1191,
were awarded to Seasongood & Mayer, Cincinnati, for $1,031
premium and interest. Following are the bids :
Premium.
Premium.
—The
& Mayer, Cincln..|l,03i 00
Denlson, Prior & Co., Cleveland and Boston
I.t00 95
W.J. Hayes & Sons, Cleve.... 857 00
Hoehler & Cunimlngs,Toledo. t893 00
Well. Roth A Co.. Oincln
883 00
Lamoreobt Bros. 4Co.. Cleve. 845 50
Sec. Sav. Bank& Tr. Co., Gin.
80100
BarnesTlUe, Ohio.— Fond S^a/e.—Oo March 20 five issues
of 5^ bonds, aggregating $11,932 17, were awarded to the
First National Bank of BarnesvilJe and the National Bank
of Barnesville at their joint bid ot 103'57.
Following are the
Seasongood
bids:
Premium.
First Nat. Bank and Nat. Bank
of Barnesville
$426 00
W. J. Hayes & Sons, Cleveland. 887 00
See V.
80, p. 885, 1013
Premium.
I
W. R. Todd & Co., Cincinnati... $865 00
eecnrlty Sav. Bank, Toledo
26000
New istNat.B'k.Columbni
221 30
I
1
|
and
1132.
(.assviile),
—
Barry County (P. O.
Mo.— Bond Election.
April 22 has been fixed upon as the date on which the question of issuing $45,000 6% 2-lG-year (serial) court-house bonds
will be submitted to a vote of the people.
Belding, Mich.— Fond Election.— The Common Council
has decided to submit to a vote the question of issuing $65,COO water- works bonds.
Berkelej School District, Alameda County, Cal. Vote at
Bond Election, The official vote at the election Feb. 25 on
the proposition to issue $150,000 i%% gold school- building
bonds, a description of which will be found in V. 80, p. 726,
was 881 in favor of to 198 against. The Board of Supervisors
of Alameda County will have charge of the sale of these
bonds. Bonded debt, including this issue, $263,500. Assessed
valuation 1904, $14,012,765.
Bisbee School District No. 2, Cochise Connty, Ariz,—
Bond Q^erinfl'.— Proposals will be received until 12 m., April
15, by I. W. Wallace, Clerk Board of School Trustees, for
$75,000 6% gold coupon school bonds. Denomination, $1,000.
Interest payable at Tombstone, Ariz. Maturity, $5,000 yearly
from 1906 to 1910, inclusive, and $10,000 yearly from 1911 to
Certified check for 10% of amount of bid
1915, inclusive.
must be deposited with J. N. Gaines, Treasurer of Cochise
—
County, at Tombstone.
Bishop, Cal.— Bond Sale. The $44,000 6% water, sewer and,
drainage bonds offered without success on Dec. 1 have been
sold to the State of California at a price to net 5^. See V. 79,
—
description of bonds.
Brady (Tex.) School District—Bonds Not Yet Sold.—
of Commerce, New York City,
judgment bonds as follows: Bonds Nos. 1 to 11, in
$9,000
These bonds are dated Sept. 28,
series Nos. 1 to 6, inclusive.
the National
(Vol. lxxx.
were awarded to W. J. Hayes & Sons of Cleveland, $3,8C0
were taken by the sinking fund, leaving $1,600 unissued.
Ashtabula (bounty (P. 0. Jefferson). Ohio.— Bond Sale
Withdrawn,— 'We are advised that the County Commissioners have withdrawn the $200,000 A% bridge bonds (the saleot
which was advertised to take place on March 25) from the
market until the suit to determine the validity of the Act
under which it was proposed to issue the bonds has been
p. 1978, for
Calls and Redemptions.
Blaine CoHuty (P. 0. Wato»ga), Otla.— Bond Call.— The
Board of County Commissioners called for payment on March
28, at
—
this
No sale
has yet been
made
of the
$13,000 4? 5-40-year (op79, p. 2759.
are informed that the district will accept a bid of $12,000
for these bonds.
W. D. Crothers is Secretary of the School
tional) school-building
bonds descrioed in V.
We
Board.
—
Bucyrus, Ohio. Bond Offering. Proposals will be received until 12 M., April 28, by W. H. lams, City Auditor,
Defor $19,200 5% Sandusky Avenue improvement bonds.
nomination, $1,200. Date, April 1, 1905. Interest, semiannual. Maturity, $1,200 yearly on April 1 from 1906 to
Authority, Act of tbe General Assembly
1921, inclusive.
passed Oct. 22, 1902; also Act passed April 29, 1902, as
amended April 22, 19U4. Certified check for $100, payable to
the Treasurer of the city of Bucyrus, required with each
bid, and the succespful bidder must pay accrued interest.
Buffalo, N. Y.— Bonds Authorized. This city is authorized by Chapter 91, Laws of 1905, to issue $500,000 waterworks bonds.
ByesYllle, Ohio.— Bond "^aZe.-This village has awarded an
issue of $2,500 bonds to the New First National Btink of Columbus for $2,598 75. The following bids were received :
$2,647 00
NewlBtNat. B'k, Columbus. .$2,593 75 Dresden Nat. Bank
^,500 00
2,651 00 Eyesvllle Nat. Bauk
W. ja. Todd&Co., Clnoln
Bond Sate. ~Oa March 7 this village
Canaadulgna, N.
awarded the following Issues of aasessmBuc bonds, aggregating $15,478 87, to the Canandaigua Natloual Bank and the
M< Kecbnle Bank, Canandaigua, at their j not bid of par for
—
I
|
as follows
Y—
Aberdeen, Miss.- Bond -taZe.— On March 15 the $70,0C0 5%
coupon water and sewer bonds described in V. 80, p. 1018,
were awarded to the First National Bank of Aberdeen at
104'80— a basis of about 4%i.
Allrgbenj fonnly (P. O. Pittsburgh), Pa.-JBowd Sale.— tl,789 02 Main Street (Section 1) assersment bonds.
afi Mwln Street. (Se"ilon.s) assessmont bond».
On March 29 |700,(i00 4% 2a-30-ve8r (optional) road improve- 4,191
72 ODtano Street (Section 15 eart and west) assossment bonds.
ment bonds wf^rn awarded to N. W. Harris & Co. of New 1,177
119 94 Bristol Mroei (Section 14 cast) aiisessiueDt bunds,
York City at 104-681 and interest- a basis of about 3'668^ if 6,249 44 tilbsun Street (iSectiun S) asBeasment bonds.
bonds are called at their optional date and 8-74^ If allowed to All of these bonds are dated Marcn 1, 1905. Denomlnatlon»
run their lull time. Denomination, $1,OCO. Date, April 1, 1500. Interest payable annually on Jun<> 1 at thH Canandaigua
NHtional Bank. Maturity, June 1, 1909, but bonds are subInterest fltml-annually.
1905.
Alliunce, Ohio. bonds .4Mf/ioW5;ed.— The City Council has ject to call at any Interest-paying da.t»^ hereafter.
Carberry School District No. 164, Mam -Debenture Sale.
decidt-d to ietne $15,000 fire-department-station bonds.
—This diairlct on March 15 sold to Stlmson & Co. of Toronto
Ashtbbnla, Hhxo.—honds Refused— Bonds Re-awarded,
The Security Savings Bank & Trust Co. of Toledo have de- an lesue of $5,000 5i school bonds for $5,051 and Interest.
clined the $18,0C0 5^ Fisk Street paving and the $10,000 b% Securities are dated in August, 1904, and the interest will be
King Street paving bonds awarded to them on Feb. 4, on ac payable annually.
count of an alleged flaw In the proceedings. On March 20
Carson School District No. 1, Ormsby Connty, <Nev.—
$18,600 of the Fiek Street and $9,000 of the King Street bonds Bond Sale,— Oa March 28 the two issues of gold coupon
—
——
Apk.
1,
THE CHRONICLE
1905.]
bonds, aggregating $35,000, described In V. 80, p. 1018, were
awarded to the State Bank & Trnat Co. of Carson City at
102*871 for 5 per cents. Following are the bids
:
state
Bank & Trust Co,, Car-
on City....
I
136,005 00
I
136,00100
H. CofBn, Chlcaso
MaoDonald. McCoy& Co..Chl. b5.789 00
C.
Carthatre (N. Y.) School District.— Bonds Defeated.— Thla
district on March 20, by a vote of 98 to 130, defeated for a
second time a proposition to issue |40,000 bonds for a new
high-school building.
Center Township, Clinton County, InH.— Subsidy Election.
Commissioners have called an election in this
township for May 18 to vote on the question of granting a
subsidy of $100,000 to the Tipton Frankford & Attica Rv.
Centralla (111.) School District.— Bonds Fofed.- This dis-
—The County
J
253
Dothan, Ala.— Bonds Not Yet Sold.— No sale has yet been
of the $20,000 5% 20-year paving, water and light bonds
which this city has been offering. R. W. Lisendy is City
Clerk and may be addressed by those interested.
DoQsrlas County (P. 0. Alexandria), JUian.—Sale Not Yet
made
We
are advised that the State is considering
Consummated.—
the purchase of the $8 000 drainage bonds which this county
offered but did not sell on Feb. 6. If the State accepts the
bonds, the loan will be made on or about July 1, 1905, the details of the issue remaining as given in V. 80, p. 485, except
that the interest rate will be 3^ instead of 6%.
Douglas Township, Kan.— Bonds Vb^ed.-This township
on Mnrch 14, by a vote of 163 to 31, authorizedjthe issuance of
$2,500 bridgp bonds. Date of sale not yet determined.
trict recently voted to issue $18,000 5i butldiE^g bonds.
Dnlnth, Minn. Bond Offering.— Piodob&Ib will be received
Champaign School District No. 71, Champaign County, until 7:30 P. M., April 10, by H. W. Cheadle, City Clerk, for
30-year gold conpon water and light bonds and
111.— Bond Sale.- On March 25 the 140.000 4% (three issues) $140,000
SJ^-year (average) coupon school-building bonds described in $100,000 i% 25-year gold coupon bridge bondfl. Securities are
V. 80, p. 1191, were awarded to MacDonald, McCoy & Co, dated March 1, 1905. Interest semi-annually at the Ameriof Chicago at 101 11 and interest. Following are the bids
can Exchange National Bank, Necv York City. Either cerMaoDonald.McCoy &Co.. Chi.$4'>,444 00 Mason, Lewis & Co., ChlcaKO.tlO,246 Ofl tifitd check or certificate of deposit on a national bank, or
40,420 00 Farson. Leach & Co.,ChlcaKO. 40,«22 22 bond approved by Council, for 1% of the face value of the
8. A. Kean, Oh Icago
N. W. Halsey A Co.. Chlc... 4o,400 UO W.J. Haves 4 Sons, Cleve... 4(M19oo
40,1<J600
40,8ii2 50 Bdw. Bailev
bonds bid for required. Bids to be without condition or
K. Kleybolte & Co.. Clncln.
40,102 50
N.W.Harris 4 Co., Chtc. ... 40,308 00 First Nat. Bank, Chicago
qualifications.
H. H. Rollins & Sons, Chic... 4O.308 00 G. M. Bechtel & Oo.,Dav'port. 40,060 00
40,000 00
Elizabeth City, N. C.—Bond Election.— An election will be
Geo. M. Brlnkerhoff, Sp'fleld. 40,267 50 John Nuveen & Co.. Chic
Trowbridge 4 Nlver Co.,Chl.. 40,24t» 00
held April 10 to vote on the question of issuing $100,000
Chester Towni^hip School District, Geanga Connt7,Ohio. bonds at not exceeding 5% interest for the purpose of paying
Bonds Defeatea.—lhm dietrlct on March 23 voted against off the floating debt, for public improvements and for mar-
a
:
.
(
—
the proposition to Issue |5,500 school bonds.
Chicago (III.) Sanitary District.— Bid« Rejected.—The
finance committee has voted to reject the two bids received
March 22 (aee V. 80, p. 1191) for the $2,000,000 4^ bonds of
this district.
Cincinnati (Ohio) School District.— Bonds Authorized.—
of Education has decided to issue |100,000 B}4%
40 year school-house bonds of $500 each.
Clarendon (Pa.) School District.- Bond O^eringr.— Proposals will be received nn'il 8 P M., April 6, by John O'Neil,
Secretary of Board, for $6,000 6% coupon bonds, DenominaDate, Sept. 1, 1906. Interest semi-annually at
tion, $600.
the Warren Savings Bank of Warren. Maturity, $500 yearly
The Board
1 from 19(J6 to 1917, Inclusive.
Bonds are subject to
State tax of four mills. The district has no debt at present.
Assessed valuation 1905, $101,865.
Clinton County (P. 0. Piattsbnrgh), N. Y.—Bond Sale.—
On March 27 this county awarded to the Watertown Savings
Bank at par and interest $4,000 S%% land-purchase bonds.
Securities are part of an issue of $6,000 bonds of which
$2,000 were awarded early in the year. See V. 80, p. 727,
and V. 79, p. 2760, for description of bonds.
Clinton (Iowa) School District.— Bonds Tooted.—This district, it is stated, has voted to issue $40,000 school-building
bonds.
Collinwood, Ohio.—Bond Q^erinflf.— Proposals will be received until a p. M., April 29, by H. B. Chapman, Village
Clerk, for $37,800 5i street-assessment bonds. Denomination, $4,200.
Date, May 1, 1905. Interest semi-annually at
the Cleveland Trust Co. in Cleveland. Maturity, $4,200 each
six months from Nov. 1, 1905, to Nov. 1, 1909, inclusive.
Accrued interest to be paid by purchaser. An unconditional
certified check on some bank in Ohio for 10% of the amount
of bonds bid for, payable to the Treasurer of the village, required.
Cortland, N. Y.— Fond Sale.— This place on March 21
awarded an issue of 161,900 i% 20-year refunding bonds to
the Cortland Savings Bank at 106*51— a basis of about 3 55<if.
Corjdon (Iowa) Indepeadent School District.- /?ond
OJferinflr.— Proposals will be rectived until April 15, by F, R.
Fry, President Board of Elucation, for the $15,000 4* bighsohool-building binds mentioned in V. 80, p. 1192, Denomination, $1,000. Diite, April 1, 1905. Interest semi-annually
at Cory don. Maturity, $1,000 in 1908 and $3,000 annually
from 19j9 to 1915, inclusive.
on Sept.
Cresco(Iowa) School District.— Bond 0#eringr.— Further
details are at hand relative to the offering on April 20 of
$23,000 4% bonds. Proposals for these bonds will be received
until 7 p. M. on that day by E. P. Farnsworth, Treasurer.
Securities are part of an issue of $25,000 bonds voted at the
election held March 13, 1905. Denomination, $1,000 or less
if preferred.
Date, June 1, 1905, Interest, semi-aucually at
the ofiBce of the Treasurer. Maturity, June 1, 1915, |3,000
being subject to call after five years. Bonded debt, including
this issue, $27,500. Assessed valuation 1904, $573,738; real
value, $4,294 952.
ket house.
Elk River (Town),
Sherburne
Connty,
Minn.— Bond
O^eriTigr.— Proposals will be received until 10 a. m.. April 22,
by W. F, Chadbourne, Town Clerk (P. O. Elft River), for
$7,500 6-20-year (serial) bridge bonds at not exceeding 6% inDenomination, $600,
terest.
£1 Monte High School District, Cal.— Bond Election.— An
election, it is stated, will be held April 8 to vote on the question of issuing $16,000 fi% bonds.
El Paso, Tex.— Bonds Voted— Bond Offering.— The elecMarch 18 resulted in a vote of 174 to 33 being oast in
tion
favor of the proposition to issue $59 000 5% 20-40-year (optional) school-building bonds.
Proposals for these bonds
will be received until 10 A. M , April 13, by B. S Catlin,
City Cierk. Denomination, $1,000. Interest semi-annually
at the office of the City Treasurer or at the Chemical National
Bank,
York City. Certified check for $!iOO required.
Elwood, I Qd.— Bond O^mwf;.— Proposals will be received
until 10 A,
City Treasurer, for
, April 4, at the oflaee of the
New
M
$25,600 5% North B Street and sidewalk-improvement bonds
issued under the authority of the "Artman Improvement
Law of Indiana." Securities will mature as follows :
$2,800 Dec. 31, 1908.
2.900 Dec. 31, 19(9.
2,900Dec. 31. 1910.
$2,800 Dec. 31, 1905.
2,9^0 Dec. 31, IHOB.
2,900 Dec. 31, 1907.
1
I
$2,800 Deo, 31, 1911.
2,800 Dec. 31, 1912,
2,800 Dec. 31, 1918.
&
Legality of Issue has been approved by Miller, Elane
Fesler of Indianapolis.
Elyris, Ohio. Bond Offering.— Pto^obbIb will be received
until 12 M., May 2, by Frank R, Fauver, City Auditor, for
the following bonds authorized by the City Council on
Feb. 21, 1905:
$50,000 iHf coupon water-works-lmprovement bonds. Denomination, $1,000
Maturity, «6,OCo yearly on March I trom 19^8 to 1937, inclusive.
coupon town-hall bonds. Denomination, $500.
yearly on March 1 from 1915 to 1920, inclusive.
12,000 5*
Maturity, $2,000
Both issues are oatea March 1, 19u6, Interest semi-annually at the United States Mortgage
Trust Co. of Nesv York
City. Certified check on a national bank for $1,000, payable
to the City Treasurer, required with bida for each issue.
bids to be unconditional and blank bonds to be furnished
&
AU
by the successful bidder.
E8tberTille(Iowa) School District—Bonds Fofed.— This
district on March 13 voted to i8.sne bonds to provide heating
some of the school buildings.
Fairfax, Gregory County, S. Dab.— Bond Sate.— The $3,000
6? 10-year coupon water-works bonds described in V. 80, p.
485, have been sold to Gregory County a*; par.
Fairfax (Minn.) School District.— Bond Election.— This
district will vote on the question of issuing $30,0(J0 schoolbuilding bonds,
Fort Pierre, Stanley County. S. Dak.— Bond Sate.— The
$25,000 555 10 20-year (opdonai) wa^^er-works bonds descrioed
in V. 80, p. 727, and V. 79, p. 2708, have been sold to the
American Trust
Savings Bank of Chicago, at par. Securities are dated Jan. 1, 1905.
plants in
&
Franklin County (P. 0. Columbus), Ohio.— Bonds Authortzed.—The County Commissioners nave passed a resolution authorizing the issuance of $20,000
4iE
bridge bonds.
Fredericksburg, Va.—Bond Sale.— The $2J,000 A% 10 30the election March 23 the proposition to issue $12,000 i% 15- year (optional) gas and water bonds described in V. 80, p.
year refunding bonds received 16 votes while none were cast 1072, were awarded on March 20 to local investors at prices
against.
Date of sale not yet determined.
ranging from 100 50 to 100-65.
Custer County (P. 0. Miles City), Mont.— Bond Offering.—
Fremont, Ohio.— Bond OJfering. The City Council on
Proposals will bertc-ived until 10 a.m., Mayl5,bytne Board Feb, 21 pissed an ordinance providing for the issuance of
of County Commissioners, for $184,U00 4<J gold conpon refund- |24 929 43^i coupon sewer bonds.
Proposals for these bonds
ing bonds. Deaumin^tlon, $1,000. Date, Jane 30, 1905. la- will be teoeived until 12 M April 25, by the City Auditor,
terest, Jan, 1 and July 1 in New York City; Maturity, July Denomination, ten bonds of $1,000 each, nine of $1,500 each
1, 1925, subject to call after July 1, 1915.
Bonded debt at and one for $1,429. Date, April 1, 1905. Interest semipresent, $274,000, of which $90,000 will be retired by the annually, at the office of the sinking fund trustees. Masinking fund on hand. Assessed valuation 1935, $6,035,655. turity, $1,000 on Got. 1 from 1905 to 1914, inclusive; $1,500
Certified check for $1,000, payable to Geo. E. RobDins, County on April 1 from 1908 to 1914, inclusive, and $1,429 on April
Treasurer, required. H B. Darnall is County Clerk.
Accrued Interest to be paid by purchaser. Certified
1, 1915.
Denver, Colo.— Bond Sate.— Oa March 14 the four issues check on some bank in Fremont for $1,000, payable to the
of 6^ sewer bonds, aggregating $7,000, a description of whi h Treasurer of the city of Fremont, required.
was given in V. 80, p. 1072, were awarded $8,000 to W. H.
Fronefleld Free Turnpike No. 49, Tan Wert County,
Neighbor at 101 and $4,000 to Frank C. Young at 100'525.
Ohio.— Bond Offering. — Proposals will be received until 1 p.
Crooksiou (Minn.) School District.— Bonds Voted.— At
—
—
THE CHRONICLE.
i25i
*^.fArrir 8, oy the Road Commiesioners <Jf the Fronefield
Free Turnpike No. 49, at the law office of Balyeat & Conn,
Van Wert,
for $3,0CO
i^% conpoa road-improvement bonds
iEsuad under authoiity of Chap. 7, Title 7, R^v. Stat, of Ohio,
and esppcially authorized by Sec, 4808 thereof. Date, May 1,
Denomination, $ 00. Interest, semiannually at tbe
1905.
County Treasury. Maturity as folio we: $100 on May 1 from
19o7 to 1914, inclusive, and in each cf the years 1916,
1917, 1919 and 1921; aleo f 300 on May 1 in each of the years
1915, 1918, 1920 and from 1923 to 1927, inclasive. Certified
check for $200, payable to John Ketzenberger, President, required with each bid. Bids to be unconditional.
Garnett, Kan.— Bond O^erinp.— Proposals will be received
until 8 p, M. to-day (April 1), by the Mayor and City CounDate, May 1,
c 1 for $25,000 water-worMs-extension bonds.
Denominations, $100, Interest, not exceeding 5% 8^mi1905.
acDual. Maturity, May 1, 1925. Certified check for |5C0
Hamilton is City Clerk.
required with each bid. T.
titeueTa C^eb.) Schcol District.— Bond Safe.— On March
24 the |29,9t0 4^% registered school-huilding bonds described
in V. 80, p. 1192, were awarded to W. E. Barkley, at 101'17
and liittrefct. Following are the bids:
W. E. Barclay
$30,860 00 N. W. Harris * Co., Chlcaeo. $30,000 00
29,6(1100
Sec. Inv. Co., Lincoln
Banhe s' Reserve Life Ins.
M
Co.,
Omata
MacDonald.McCoyiCo., Chic a.'>,500CO
O^ertng.— Pnposals will be re-
30,000 00
QleiidlTe, Mont.— jBond
ceived nntll 10 A. M. May 1, by H. J. Halvorsen, City Clerk?
for the $45,000 waterworks and $5,(00 sewer coupon bonds
voted March 6, 1905. Date, July 1, 1905. Denomination,
Interest, not exceeding Qi, psyable semi-annually at
|1,000.
the office of t he City Treasurer, or at some bank in New
York City to be designated by the purchaser. Maturity,
" |3,C00 of the said bonds to be redeemed each year after
"
thiee ^ears and the entire issue psyable Id 20 years
Grafton (W. Ta.) School Dibtrict.— Bonds Fofed.— The
election Marcb 21 resulted in a vote of 804 to 843 being cast
in favor of the proposition to issue |25,000 41^4 10-34-year
Date of sale not
(op' iona)) school-house- completion bonds.
yet determined.
Grand Forks, N. Dak.— Bond Blection.— At the election
20year bonds to
April 3 the question of issuing $50,(00
retire $33,000 water- works warraLts and $l7,(KiO interest fund
warrants will be submitted to a vote of the people; also the
proposition to istue $30,000 Q% 2C-year bonds for an electric-
H
light plant.
Graiid Rapids, Mich. -Bond Election,— On April 3 the
question of issDing $590,000 pure-water supply and fllO.OOO
pump bonrs will be submitted to a vote cf the people.
Grant Township (P.O. Lawrence), Ooatrlag County, Ean.
—Bona tiale.—Ou March 27 the |2 5C0 43^« flood-debt bonds
mentioned in V. 80, p. 1192, were awardea to the Watkins National Bank of Lawrence at par. Denomination, $100. Date,
March 27, 1905. Interest, annually in July. Maturity,
yearly from li06 to 1910, inclusive.
Great Bend (Kan.) Sihool District.— Bond Election.— The
Board of Education has decided to submit to a vote the question of issuing $20,000 building bocds.
GreenTilie, Montcalm County, Mich. — Bonds Voted.— TMb
city on March 13, by a vote ot 634 to 95, authorized the issu
ance of $40,000 bonds to build a court house, provided the
county seat is removed from Stanton (the present seat) to
Qreenviile.
[A^OL.
LXXX.
Maturity, May 1, 1925, subject to call May 1,
Principal and interest payable at the Farmers'
Merchantb' Bank, Hamansville. Authority, Article XIII, Chap,
91, Revieed Statutes of Missouri, Sec. 6350. A certified check
by some bank other than that making the bid for 2% of the
amount of such bid required. The city has no other bonded indebtedness or floating debt.
Value of taxable property
for city purposes, $281,025.
Jackson, M.iS8.— Bonds to be Jfsued,— It is stated that the
Ciry Council will issue $30,000 5% 30-year bridge bonds.
JanesTille, Wis.- Bond Ekction.— An election will be held
April 4 to vote on a proposition to issue $25,C00 bridge bonds.
Kansas.— Bond C^ermgr.— Proposals were asked for until
yesterday (March 31) for the $210,000 4^ coupon "branch
penitentiary bondb" mentioned In V. 80, p. 1073.
Date,
April 1, 1905. Denomination, $1,000. Interest, semi-annually at the (ffice ot the State Treasurer,
Maturity, April 1,
1915, subject to call April 1, 1910.
Bonds are issued in compliance with the provisions of Senate bill No. 30, approved
Feb. 17, 1905.
ination, |r00.
&
1910.
Kennebec Water District, Me.— Bond O^erinflr.- Proposals
will be received until 7:80 p. M., Apiil 12, by Frederick C.
Thayer, President of the Board of Trustees, Kennebec Water
Di8trict,Waterville, Me., for $950,(00 33^« gold coupon bonds.
Denomination, $1,000. Date, May 1, 1905. Interest semiannually on May 1 and Nov. 1 at the National Sbawmut Bank
of Boston. Maturity, $50,0C0 May 1, 1910, $'.00,000 May 1
1915, $150,000 May 1, 1920, and $650,0C0 May 1, 1925.
Bonds
are a direct obligation cf tbe district (a quasi-municipal cor-
poration existing under Chapter 20O, Laws of 1899), and are
issued under Chapter 162, Laws of 1905. Certified check for
2% of tbe par value of the bonds bid for, payable to the dis^
trict, required.
The
official
notice of this bond
offering will
be found
among the advertisements elsewhere in this Department.
Kewaunee, Wis. -Bonds Authorized, The City Council
—
has decided to issue $8 COO bridge bonds.
Kingman, Kan. Bond Offerir^g Proposals will be received until May 15 by the City Council for $25,000 b% 10-20year (optional) water-works bonds. Purchaser pays acccrned
Interest.
L. P. Shelly is City Cleik.
La Crosse, Wis.— Bonds Prcposed.— The issuance of $100,COO additional high-school bonds is being considered.
Lakewocd, Ohio.— Bord 8aie,~ Oa March 27 the $4,800 5^
IJ^-year Lake Avenue improvement bonds describsd In V.
8u, p. 1193, were awarded to W. J. Hayes & Sons of Cleveland at par and interest.
Lawres: ct burg, Tfnn,— Bonds Not to bs Issued,— We are
advised that the city will rot make the talked- cf issue of
water- works bonds (see V. 80, p. 486), as a franchise has been
granted to F. M, Liacoln of Lawrenceburg to supply water.
Lawrence Connty (P. 0. Bedford), Ind.— Bond Sale,— Oa
March 3 the $44,680 4J^^ gravel-road bonds mentioned in V.
Go. of Indianapolis
to, p. 728, were* sold to E. M. Cdrap^ell
and Rudolph Kleybolte & Co. of Cincinnati, at par. Securities are for the following township roads:
—
&
B^no Township.
—
Greenwood, Miss.— Bonds Proposed. The Mayor
Board ot Aldermen have announced their intention to
and
issue
meeting will be held April 4
$50,000 street-paving bonds.
to receive any protest against the bonds. If no protest is
filed the bonds can be issued without submitting the question to a vote of the people,
HBlleltsTlHe (Texag) Sihool District.— Bonds ^re to bs
Issued, Arrangemeiats are being made for an issue of schoolbuilding bonds. No details have yet; been arranged.
Helena, Mont.—Bond Elections, Local papers state that
on April 3 the question of issuing $150,000 bonds to take up
exoeps warrants will be submitted to a vote, while on April 10
the question of issuing $698,S;59 bends to acquire a water
plant will be passed upon by the people. The excess or illegal warrants were ietued about ten years ago. Under the
terms of the ordinance they are to be compromised at 75
cents on the dollar. See State and City Section for November, 1904, p»ge 23P9.
High Line Irrigation District, Town of Littleton, Arapuhoe County, Colo.— Bond O^ertngr.— Proposals will be re
celved until li'^O p. m., April 17, by W. E. Bates, Secretary
Board of Directors High Line Irrigation District, for $1,100,
000 bonds. No bid of less than 95 will be considered.
Ilolton (Kan.) School Dist.— Bond Elect on. April 4 has
been tjx^d up 'n as the date on which the question of Issuing
the $10,000 4<? 20-year high-echool building bonds mentioned
In V. 80 p. 1014, will be submitted to a vote of the people.
$7,800, being forty bonds of $195 each.
Marlon Township, };i;0,f-,0(), beirp; forty bonds of *5i5 each.
Township,
17,62
belnu forty bonds of $18S ea< h.
Spice
Indian Creek Township, $w,7a0, being forty bonds of $244 each.
,
A
—
—
—
Bonds are da*ed Ftb.
May and November.
six
Interest semi-annually in
15, 1805:
Maturity, one bond of each Issue every
months.
Logan (Iowa) Iiadependent School District.— Bond
O^ermg.— Proposals will be received until 12 M. April 4, by
Van
Scoy, Treasurer, for the $3O,C00 school building
Denomination, $100 to $l,O0O, to
10.
Interest payable at Logan. Maturity, ten
suit puTch'Jser.
yearn, subj-^ot to call f^fter five years. Bonded debt at present |3,60u, which will be paid olf Aug. 1, 1905. wi'h money
now on band. Actual assessed valuation for 19134, $1,221,933.
The official circular states that principal and interest luve
always been promptly p^iid and that there is no litigation
pending or threatened «ffectiEg this issue.
LoDtf Be ch, Cal.- Bonds Fored.— This city on March 23,
by a vote of 899 to 120, authorized the issuance of $3O,C0O fireapparatus and tjydrant bonds.
Lorain, Ohio.— Bond Election Proposed,— It is stated that
an election will soon be called to vote on the question of
issuing $100,000 water-works-improvement bonds.
Bond O^criT gr.— Proposals will be received until 12 m.,
April 26, by J. J. Mahony, City Auditor, for $33,000 i}4%
Dite,
Denomination, $1,0)0.
storm-water-sewer bonds.
March 15, 1905 Interest, semi-annual. Maturity, $2,000
J,
E.
bonds voted on March
each six months from March 15, 1906, to Sept. 15, 5908, inHol}oke, Mhsh.— Bo?.d ^a/e.~The following bids were re- clusive; $2,000 on Mnrch 15 and $1,(00 on Sept, 15 each year
ceived M'jrch 29 for the $30,000 3}4% gas and electric and the from March 15, 1909, to Sapt. 15, 1915, inclusive. Accrued
$95,000 3}4% municipal gold registered bonds described in V. interest to be paid by the purchaser. Certified check for
80, p. 1193:
$2,000, payable to the Trf asurer of the city, rf quired.
180,000 Bongs,
$05,000 Jiils.
Lorain (Ohio) St hoot District.- /^ond £7ecfto«.— An elec100 50
Geo. A. Ferrald iCo., Boston
lOO'a?
100-471
Lorlna.Tolman * Tupper, Boston
tion will be held in this district on April 5 to vote on the
100-159
W. O. Ghv *< o. Boston
lCO-341
qu' stion of issuing $35,tOD bonds for the erection of a school
JackKon & Curtis, t'oHton
30011
Blakn KroR. & o. Boston
lOO'lO
10
1
house.
100"172
BlodKet, M err Iti & Co., Boston
10U0H3
Los Angeles, Cal.— Bonds Fofed.— The election March 21
Merrill, Oldham * Oo.. Boston
lOO'OfiU
N. W. Harris A (o., Boston
100-007
resulted in a large mwj irlty in favor of tlie bond propositions
bond
1 20 year (serial) gold
HamansTlile, Hxu-Bond O^eHngr.— Proposals will be re- submitted. The $260,000
ceived until 8 P.M., April 18, by William W. Wood, City Clerk, issue of Lcs Angeles City High School District resulted in a^
for $12,000 water-works bonds.
Date, May 1, 1905. Denom- favorable vote cf 2,467 to 297, while the proposition to issue
'
H
—
Apr.
THE CHRONICLE.
1, 1905.1
J
255
Uoebler* Cummings, Toledo $',880i0| w R. Todd *. Co.. rinclnnati..f l,g37 00
$5£0,COO 4% 1-40 year (aeria!) gold boad^ of the -'Qo^f,':.} ot
J,h35 00
LampreohliJioa.jfc oo.,cleve. l.fcOo 00 First Natloiiai Bank
Education of the city of Los Angeles and of the Los Angeles
Bond
Neb
Cl^eringf,— Proposals will be reMewcastle,
City School District" received a vote of 3,576 for to 192 ceived until April 20, by W. R, Talboy, Chairman, for the
against the question.
|6 500 5% 10-20 yesr (optional) coupon water bonds mentioned
Lynchburg, Ohio.— Bonds Defeated.— The question of In V. 8(',
Denominations, six bonds for fl.OOO each
p, 179.
igeutng |15,0C0 building bonds tailed to carry at the election ard one bond for |vOO. Interest, gemi-ar«nual. Certified
March 30, the vote being 107 in favor of and the same against check for $100 required.
the propoeition.
New Hampshire.- Bonds Authorized,— The Legislature of
Lyons (Kaa) School District No. Q9.— Bond Election.- 1905 authorized tbe issuanco of $2(0,000 3}4i hospital-buildIt is stated that an election will b9 held April 4 to vote on
ing bends. Denomination, $l,0i0. Dite, July 1, 1905. Inthe question of issuing $14 440 bonds.
terest semi annually at the National Shawmtt B^nk of BosMadison Connty ( P. 0. Anderson), Ind.— Bonds Refused.— ton and at the office of the State Treasurer. Maturity,
The $45,00:) d^i fundinsr bridge bonds awarded on M^rch 14 IIO.COO yearly on July 1 from 1908 to 1925, inclusive. Date
to E, D. Basil & Co. of ladiaoapolis have been refused by
of sale not yet fix?d.
that firm upon advice of their a torneys.
New HaTen Township, Heron Conntv, Oh?o.— Bond OfferManchester, Va.— Bond Sale.- On March 24 the |65,G0O ii irg —Proposals will be received uotil 12 M., April 20, by D. F.
30-year coupon refunding bonds described in V. 80, p. 1073,
Dawson, To WE sb'p CUrk, for $2,000 %% road bonds, issued
were awarded |5,000 to the Board of Sinking Fund Commia- puTtuant to Section 4686-17 of the Revised Statutes of Ohio.
fciontrs of Manchester at par and |60,00) to the Mechanics' &
Denomination, $300. Da'e, April 20, 1905. Interest, semiMerchants' Bank of M^ccheater at 98>^, this latter bid being annual. Maturity on April 20 as follows
$800 in If 06, $800
Co. of Richmond
on a batis of about 4C8Sjf. Thos. Branch
Accrued Interest to be paid by the
in 1907 and $400 in 19C8,
will
be
certified
offered to lake the bonds at 98 J^. Securities
purchaeer,
Trust
to as to gerninecess by the 0iiired States Mortgage
Newport News, Ta.— Bond Sate.— On March 22 an issue of
Co. of New York City.
b% redemption bords was awarded to SchmeTz Bro3.
$10,000
Marlon County (P. 0. India napolss), Ind.—Bonds Author- of Newport News at 102 and interest. Denomination, $500.
ized.— The County Council is arranging for the issuance of
Date, April 1, 1905. Interest, semi-anrual. Maturity, $5,000
|U 0.000 voting machine bond?.
in tbree years and $5,f 00 in four years.
1
&
:
&
Marlette (Mkh.) School District.— Bonds Fofed.— This
New Yoik Stfete.—i7^o«d C^eriKflf.— Proposals will be rehas voted to issue $S,001 refunding bonds,
Marshall (Mino.) School District.— Bond Sale.— We are ceived until 13 M., April 20, by Olto Kelsey, Btate Ccmptro!advised that this dietiict has sold to the State an issue of ler, at Albany, for $2,OCO,000 Z% gold canal-Improvement
$40,(00 refunding bonds.
bonds, to be registered or coupon at option of purchaser,
MfiSSEChiiigettP.— Bond SaJe,— The following award was
of
S%% bonds described bearing date of Jan. 1, 1905. Coupon bends will be issued In
made en March 24 of the eix issues
in V. 80, p. 1134:
denomination of $1,000 and registered bonds in denominaAwarded to N. W. Harris & Co., New York.
tions of $1,000, $5,000, $10,000 ard $59,000. Interest Eemi-andistrict
$250,000 3]^% 1-25- year (serial) State hishway bocd* at 102-676. Basis S}i%.
250,000 3H!5 SStJiyear park bonds at 106-676. Basis 3'206%.
250,000 3HJ 3V-9i-year park bonds nt 108-376. Batis 3-214^.
170,000 £H^ SiH year park bonds at 106*17.% Basis 3i'dS%.
80,000 3Ji% 3»94year Charles aiver Basin t)bnds at 106-175. Basis 3'Z2Z%.
Awarded to E. H. I olUnsSc Sons ar.d G-.o.A. FernaldA Co. j wtly.
ISrn.oOO '-Mfc 29 1-12-year prison hospital bonds at 104 556. Basis 3-254)8.
3i\000 9)411, 30-year registered armory bonds at 04-628. Basis 3-a68if.
320,000 S)^% 3B5i year Charles River Basin bonds at lOS-StS. Basis 02525?.
660,000 3H% 3l?^-year water bones at 106-761. Basis 3-243^.
!
Following are the bids
N.
W. Harris & Co., New York.
highway
25l',000
102-675
106-676
$260,000
2^0,000
10fl-3T6
4-50,000
106175
300.r00
104-656
104-628
105-653
3i',0i
E. H. Rollins & Sons and Geo. A. Fer
raid & Co., Boston
400.000
«70,0C0
!
250,00i>
I
ft.
L.
Day &
Co.
and Estabrook & Co
Boston
Merill.
102-H21
105-761
102-19
105-65
105-17
,400,000
Oldham &
Halsey
1{i5ft53
highway
6£0,000
850,000 biiihway
850,000 water
St,
Co
,
Co. Brston, and N.
New York
City Trust Co., Boston
Parkinson
rltt (k Co.,
& Burr and
Boston
.
W.
All except armory
400,000 Charles River
Blodget, Mer- < 2,270,000 coupon
30,0t'0 registered
(
104-659
105*55
106-156
105-18
,
2,2
!,270,000
coupon
(
Blake Bros. & Co., Harvey Fisk & Son
ODS )
30,000 registered
and Farson, Leach & Co Boston .... ^*2.3
!.300,000 registered
* All Or none.
•
,
Itni-aa
104 98
J
105-(4
M>liion, Ohio,— i!?o»ds Avthor: zed.— The City Council
has authorized the issuance of |8,000 5^ 1 8-year (serial) en-
nually at the Bank of the Manhattan Company in the city of
New York. Maturity, Jan. 1, 1923. Bonds are exempt from
taxation. Authority, Chapter 147, Laws of 1908. Proposals
must be acccmpacied by a deposit cf mcney cr by a certified
check cr bank draft upon a banker trust company of 1 he
city of Albany or New York, payable to the order of the
of the
Comptroller of the State of New York, for at least
par value of the bonds bid for. Accrued interest to be paid
by purchaser.
The official notice of this bond offering will be found amorg
the advertisements elsewhere in this Department.
Norwood, Ohio.— Bonds Authorized.— The City Council
has passed an ordinance providing for the Issuance of $20,COO 43^^ 30-year sewer bonds.
Nntiey (N. J.) School District- Bords Defeated,— This
district on March 31 voted against a proposition to issue
$18,r00 i% 40-year Park School addition bonds.
08wegatchie(Town), St. Lawrence County, N. T.— Bond
H
M
On March 38 the $19,000 4^
9-year (serial) to wnh&U bonds described in V. 80, p. 1135, were awarded to the
Ogdensburg Bank of Ogdecsburg at 104*01— a basis of about
Sale,-
3*52^.
Following are the bids
:
Ogdensburg Bank, Ogdensb $19.T61 90 Gouverneur Sav. & Ln. Asso.$lP,304 00
I. W. Sherrlll, Poughkeepsle. 19,556 70
Oenlson, Prior * Co., Cleve19,193 74
land and Boston
Nat. Bank of Ogdenf burg... 1W,651 00
bonds
tJeo. M. uaan, New Kor»
19.480 70 E. D. Shepard&Co..N. Y.... 19,100 00
MerLE, N€b. -Bond Election, —This plac^ will vote on the
W. J. Hayes & Sons, Cleve... 19,412 30
question of issuint? $4,OjO water-works bond?.
Palisade Irrfgatlon District (P. 0. Paliscde), Cdo.—
Middletown, Ohto.— Bond f^aZe.- On March 20 the $2,697 Bond Q^enng.- Proposals will be received until April 3
A% 1-10 year (serial) coupon sidewalk bcn(?s described in V, (sale postponed from March 20 owing to advertisement being
80, p. 1073, were awarded to the Mercharts' National Bsnk
irregular) for $160,000 Q% bends. R. H. Barcroft is Presiof Middletown at 100*596 end interest— a basis of abcut gj^t
dent and Wm, Cross, Secretary Board of Directors.
'/S
Following are the bids
Paris (III.) School District.- Bonis Deffaied.— This disMerchants' National Back.
Middletown Building & Dept,
trict on Match 34 defeat* d a proposition to expend $30,003 in
$2,713f9
Middletown
Association
f 2,704 50 the erection of a new high-scbool building.
Oglesby & BarnitzCo
2,700 60
Pasiidena, Ca!.— Bonds Fofed.— Several prepositions reMoncloTa Township School Dif^^trict, Lceas County, Ohio.
Bond Offering —Proposals Viill be received until 10 A, sr., lating to municipal ownership of water plant were fcubmitted
April 8, by Don C. Whitehead, C'erk Board of Education, for to a vote on March 23. These propositions follow
To pTirchase' plants of the Pasadena Land & Water Co., the Lake Vine$4,000 5% school bonds. Denomination, $200. Interest semi- yard
Laud 4 Water Co. Yore-Yes, J,449 no, 577. Carried,
annually at the office of the Towni^hip Treacurer. Maturity,
To purchase plant of the North Pasadena Co. for rSO.OOO. Vote— Yea. 1,412;
no, 5^6. Carried.
$1,000 yesrly. Cash or certified check on some bank in ToTo ruroDase plant of the East Pasadena Co. at |i:8,750, Vote— Yes, 1,248 no,
glr-e-house
:
!
—
:
;
;
leio for |20O required.
Newaik, N. J.— Fond Sale.~Oa March 24 the three issues
of 334« 40-50-ye8r (optional) bonds described In V. 80, p. 1135,
were awarded as follows : $1,950,000 reservcir bonds to the
Fidelity Trust Cx of Newark at 103-412 and interest— a basis
of about 3 343^« if bonds are redeemed at their optional d*te
and 3 3''% if allowed to run their full time. The .$500,000
water and the $370, COO school bonds were disposed of to
N. W.
ey
Co. and N. W. Harris
Co. of New York
City at their joint bid of ICS'OeS and interest-, or a basis of
8-40i^« to the optioral date and
8 413^ to full maturity.
Following are the bids
102*027
Kountze Bros.. New York
F,''VlJ'^^'^'''*''.<^o- (reservoir). 103-412
N. W. Halsey & o. and N. W.
Karson. l.each ACo., New York. 101 -896
Harris ^Co. New Y(,rk
101-19
lC2-r88
Biatr 4 Co.. New York
Bisele& King (reservoir)
100691
l(;3-0036 B. L. Day & Co., New York
HU
&
&
:
I
(
|
|
|
Newark, Ohio.— Bonds Aurhcrized.— The Ctty Council h«s
passed an ordkance providing for the is?snance of $15,000
electric-Hght- plant-improvement bonds.
Nei^fcnrgr fletti ht», Cnjahr ga County, Ohio.— Bond Sale.—
Cn March 13 the $1,800 6<« water-wcrks bonds described in
V. 80, p. 729, were awarded to Hcebler
Cummirgs of Toledo at 104 45 ard icterest. Follcwirg are the bids :
&
80k Lost.
To purchase San Gabriel Narrows at
$25,000.
Vote— Yes,
1,659
;
no, 515. Car-
ried.
To appropriate
£40.
$198,750 for general Improvements.
Vote- Yes,
1,412; no.
Carried.
Issue »i, 000,000 bonds.
Vote— Yes, 1,S33; no, 674. Carried.
two inirds vote was neceesary co antaorize.
Pekin, 111.— Bond Flection. — An e'ection will be held
April 18 to vote on the question of issuing $75,5(0 4i 10-20year (optional) refunding bond?. Dinomlnatioa, $50''. Date,
July 1, 1906. Interest, pemi-annna'.
Pekia (lU.) School District. -Bond Election.— It Is stated
that an election will be held in this district to vote on the
question of issuing $20,000 brnds.
Perry Township, Clinton Coucty, Ind.-S'w&.sttfy Election.
An election will be held May 18 to vote on tbe questlcn of
grsnttng a subsidy of $22,000 to the Tipton Frankford
Attica Railway.
Petotrkey, .Wiclr.— Bond El(ction.—A.n election will be held
this month to vote cn ihe question of issuing $6,500 bonds to
pur' hise grounds for an athletic park.
To
A
—
&
Ptne County, Minn.- Bond
received until
man Board
of
1
p. M.,
Q^erinflf.— Proposals will be
Apiil 25, by
Edward Clcugh, Chair-
County Ccmmissioners,
at the office of
D.
THE CHRONICLE.
1256
Greeley, County Auditor, for $3,150 drainage ditch No. 1
bonds, Issued under authority of Chapter 25", Laws of 1901.
Securities are to carry not exceeding 6i interest and will run
seven years. Interest, acnual. Certified check on some national or State bank for $500, payable to the Treasurer of
Pine Countr, required.
Fitfalrr, Fa.— Bond Offering.— Propos&la will te received
until May 1 by Joseph S. Luhtenfelp, Secretsry, fcr the 529,500 4^% coupon bnilding bonds authorized at the spring
election Feb. 21, 1905, Dencmitation, $500. Date, June 1,
Interest sf mi-anruaily at the Firtt National B^»nk of
1905.
Pitcairn. Maturity, $2,000 yearly on June 1 from 1918 to
Bonds are exempt
1931, inclueive, and $1,500 June 1, 1932.
from taxes. Po ded debt, includiEg this issue, $78,000. Assessed valuation. $1,115,750.
Pittston (Pa.) School District.— Boad uferins-.— Proposals will be received until 10 a. m. to-day (Aorll 1) by the
Treasurer of the Board of School Control for $13,000 4«
coupon bonds. Denomination, $500. Date, April 1, 19G5.
Interest, sfmi-ancual.
Maturity, April 1, 1935. Ambrose
Langan is Secretary of the Board.
Plum B&jon Leree
District, Ark.— Bond .Sate.— This disrch 18 sold an issue of $300,000 Q% 30-40-yehr (optloral) bonds to the Leeser-Go'dman Cotton Co. of St. Louis
Interat par. D.-ncminailOi;, $1,0C0. Date, April 1, 19C5,
est, semi-annual.
Plymouth (Pj .) Sch.ol District— Bond Offering.— This
district will sell at public auction ai 2 p. m April lo, $30,000
i% ocupcn school-buildSrg bond^:. DinominatiOEi, §50U. Drxte,
April 1, 1905. Ilitere^^, semi-antual. Maturity yearly on
April 1 as follows $1,C00 from 1907 to 1912, inclndv
II. SCO
trict
M
en
,
:
from 1913
;
and $2,000 from 1921 to
to 1920, incJueive,
1926, in-
J. A, Oop is Secretary oi district.
PocahontciS, Va.— Bond Saie.— The $40,COO coupon liquidation and improvement bonds offered on Mairch 15 wf:re
awarded to Trowbridge
Nive: Co,, Chioaeo, at par les-i a
ccmmieeion of $1,050 for 5% bonds. Sse V. 60, p. 1016, for
description of bonds.
Polk CoHiity (P, (>>. Des Mtiiiea), I(,wa.—Bonds .iM^Tiorized— The Bard of County Supervisors has passed a resolution to issue $350,000 couit-bou^e bonds at 4% cr 4^4% interest, this being ^^'O.OOO in addition to the |100,0i!i» bonds
clusive,
&
NEW
offered on
rejected.
[VOU LXXX.
March
14, for
ation 1904, $l3,O00,COa. Certified check for $1,000 on-scma
bank in Ottawa required. Successful bidder must furnieh
blank boLds.
Regina Pablic Sch; ol District No. 4, N. W. 1.— Debenture OJ^trtng,— Piopos^ Is will be received nnnl May 1 by the
Storetary Board of Trusttrea for $58,000 -.%i d<=bHntrire8
maturing part 3e4r;yfor thirty years; also tor $1,COO 4^^i
debenfurts maturir^g part yearly for ten yeirs.
iitthester, .N. Y.—T mporary Loan. —This ci^y on March
29 awarded to Bond & Goodwin of Boston. $38ii,000 twomonths loan at 3 48^ and $245,000 ight-moatba lean at 3*6455.
The following bids were received
;
Bond & Goodwin,
J
$36
,0 0.
*
Bonds are
<.'xempt
right to reject any
which are not In his opinion advantageous
The Comptroller reserves the
proposal will be accepted for less thun the par
value of the bonds nor unless accompanied by a
deposit of money or by a certified check or bank
T. B. POTTER,
MUNICIPAL and onMr^O:
oWN^^,
CORPORATION
MhT
-
-
-
OM APPLICATION.
IL.JLS
60.S0OO.
3 6'^
005,000
4-0'.'ii;
LOANS.
RENEWAL
BO^SDS.
Bonds to be renewed: Classes A and B, aggregating $7,437,?C0, maturing July 1st, 1906; Class C, aggregating $966,000, maturing Jan. 1st, 1906.
Character of Bond: Fifty-ytar gold bonds. In denominations of either $100, $500 or $1,000, said bonds
to be coupon or registered, at option of bidder; Interest payable semi-annually In Montgomery, Alabama, or New York City State of New York. Bids
for entire issue, or any part thereof, not less than
for $100, are Invited upon following terms:
1. Upon bonds bearing 3^ per annum.
2. Upon bonds bearing 3H>^ per annum.
A certified check, payable to the order of the Governor of Alabama, for five per cent of the amount
bid for must accompany each bid. For the bids that
are accepted, 01 her security, approved by the Governor, may be substituted f r the certified check.
The certified check accompanying rejected bids
will be returned, with notice of rejection. The 5J
of each accepted bid will, on failure of bidder to
comply with terms of his bid, be forfeited to the
>
State.
The
amount
of each accepted bid, or so
urpaid, must be paid in lawful
money of the United States -or in lieu thereof an
equal amount of Alabama bonds which are being
refunded— sixty days before the maturity of the
present bonds. Into such depository as mny be
designated by the Governor, or in lieu of the above
designated payment, such guaranty as the Governor
may approve.
The State will exchange with accepted bidders,
any time after acceplarjce of bid, new for old bond
credit teing given the bidder for diflerence in inter
est to date of maturity of old bonds. No bid offer
Ing less than par will be considered. Tne State reserves the right to retire present bonds to an
amount not exceeding .$HOO,000 Bids will be received at the Governor's OHlce at Montgomery until
V^ o'clock M., APRIL 4, 1905, and will be opened Immediately. Notice of acceptance or rejection will be
given each bidder bv letter iimiled in Montgomery
not later than April 19, 1905. ijuvelopea tomaining
bids must be addressed to the Governor of Alabama, and have conspicuously written thereon
"Bids for Kenewal Uimds, State of Alabama." The
State reserves the right to 'eject any and all bids.
For further infoimatlon, apply to the (Jovornor of
entire
mucli as
may remain
Alabama.
OTTO KELSKY, Comptroller.
State Comptroller's Office.
R.
M.
CUNNINGHAM,
Lleutcn int and Acting Governor.
March
BONDS
sfS8K CERTIFICATES
Also
Handsomely
eiigrjived; steel-plate
Albany, N. Y.
87, 19:5.
INVESTMENT BONDS.
SEND FOR
LIST.
DENISON, PRIOR&.CO.
CLEVELAND.
t'lfect.
the cheaper kind, partly litliographed and partly
printed from type. 100 Stock Cottltlcates, $3 to
$25; the latter ei:gravcd with steel-plaie borders
-elegant. Seal Press, if with Cert iHcates, $1 50.
&.LBERT B. KING & CO., 1 12 William St., N.Y,
^Telephone.)
Ungravers and Lithographers.
UaiuDllnhtd 1»»5.
H. C. Speer
& Company
159 La
Chicago.
17U Washington Street,
CHICAGO,
Security Tr. Co
to the interests of the State.
from taxation.
No
,
E.Jennlson
V.
I
STATE OF ALABAMA
given.
bids
S.'sv. Bk.$lOO,010. 8 mo.3C4%
Sav.Inst. "5,' 0' 8 mo.3"'4*
I
NEW
Comptroller of the State of New York, for at least
two per cent of the par value of the bonds bid for.
All proposals, together with the security deposits,
must be sealed and endorsed "Loan for Canal
Improvement" and inclosed In a sealed envelope
directed to the "Comptroller of the State of New
York, Albany."
The successful bidder or bidders will be required
to pay for the bonds, on the acceptance of the proposal, by deposit in the Back of the Manhattan
Company in the City of New York to the credit of
"Treasurer of the State of New York on account of
the Canal Fund," of the amount of the award, together with premium and accrued interest from
January 1, 1905, less the amount of the deposit of
such successful bidder or bidders, which will be applied toward the payment for the bonds. All other
deposits will be returned by mail to the rf spectlve
bidders within three days after the bonds have been
awarded, unless different Instructions to the Comptroller as to the return of the deposit are duly
all
Broadw y
&
draft upon a bank or trust company of the city of
Albany or New York, payable to the order of the
or
I
Rochester
SsgiiiiaW, Mich.— Bond Sale.-Oa March 37 the $10,000 4%
l-lO-year (serial) Western Taxing District sewer bonds described in V. 80, p. 1195, were awarded to W. E. MostCo. of Detroit at 100 '5075— a basis of about 3B0^. Folio w1ns; are the bids :
CANAL IMPROVEfVSENT.
EXEMPT FROM TAXATION.
Per Cent per annum from January 1, 1905, payable
semi-annually on the first days of January and July
of each year, and the principal payable on the first
day of January in the year 1923.
Principal and
Interest payable in cold coin of the United States of
America, of the present standard of weight and
fineness, at the Bank of the Manhattan Company in
the city of New York.
Coupon bonds will be Issued in the denomination
of One Thousand Dollars and registered bonds in
denominations of One Thousand, Five Thousand.
Ten Thousand and Fifty Thousand Dollars.
A sinking fund Is established by said Act for the
extinguishment of the indebtedness created by the
sale of the aforesaid bonds and for the payment of
the Interest thereon as the same become due.
I
And $5 premium,
FOR
Tlie
8 mo.3-48^
Boston
X 245,000, 8mo.3«4;5
Rochester Tr.Co.. 50,00'J. 2mo,*3-50)l
STATE OF NEW YORK
to be issued by the people of the State of New Yorfe,
in either registered or coupon form, at the option of
the purchaser, bearing interest at the rate of Three
were
i^Euance of $25,000 school-house bonds.
Putbio, {liilo.— De-'cription of Bonds,— We are advised
that the^ $100,OiO 5% " Public Park laaprovement District No.
1 " bonds recently sold to M, D, Thatcher
at 96 (ae;; Chronicle March 18, psg;^ 113n,) answer to the f .jlo^lng description : Denomlnaiion, $1,000.
Date. May 3. 1904. Interest,
eemi-annual. Maturity, May 3, 1919, suljfict to call after 10
ye>irs.
Thes*^ botids are part of :;n authof'zid issue of $17B,Ov 0, and Mr. Thatcher, we are infcrmeci, has an option on the
remaining |75,0r0 bonds.
PntLam Connty (P. 0. GltawO. Ohio.— Bowd Offering. ~
Proposals will bs received until 12 m,, April 8, by Louis N.
Welde, County Auditor, fo' $62,000 S? coupon bonds. Denomination, $1,000. Data, May 1, 1905. Interest payable at
the fifice of the Cou)-.ty Treasurer. Maturity, $,5, COO yearly
for four years acd $7,!^ 00 yearly for the following six years.
Bocdf^d debt, icoiu:)icg this is?ue, $':i3,000. Assessed valu-
OF THE
Million Dollars in Bonds
bids then received
Pontiac (Mich.l School District.—Bonds Foied.- This
on March 20, by a vote of 147 to 74, authorized the
LOANS.
Notice is hereby given that pursuant to the provisions of Chapter 147 of the Laws of 1903, sealed
proposals will be received at the ofiBce of the
Stale Comptroller, In the City of ALBANY, until
THURSDAY, APRIL 20, 1905, at twelve o'clock,
noon, of that day, for the purchase in whole or In
part of
all
district
BONDS
Two
which
BOSTON.
CITY
Millie St.,
COUNTY
AND TOWNSHIP
BONDS.
n
:
Apr.
1,
THE CHRONICLE.
1905.1
E. Moss & Co., Detroit... $10.050 76
10,033 00
U"nlon Trust Co., Detroit
W.
I
1
Second Nat. Bank, Saginaw.. $10,026 00
W.J.Hayes*
Sons, Cleve... 10,005 00
Election Not Yet CaVed.—We are advised that nothirg has as yet been done in the matter of calling an electir
to vote to author ze $141,250 mu icipal lighting- plant bond(<,
the ispnanoe of which is being agitated.
St. Francis Levee District, Art,— Bond Sale.— On March
25 the $250,000 Qi 30 40-year (optional) coupon levee bonds
were awarded to the Tennessee Trust Co. of Memphis and
Julius Les-er of Sf. Louis at 101-12. Denomination, $Lf03
Date, April 1, 1905. Interest, January and July in New York
City or fn Memphis. Bondtd debt, including this issue,
Bond
$1,250,000.
Salem School District, WaahSngtoa Coanty, N. Y.—Bill
Legalizing Bond". —Chnptpr 84, Laws of 1905, legalizes an
issue of school bonds of this district.
The Comptroller on
St'henfctady, N. T.— Bond Sale,
March 29 purchased at par for the account of the Wa/'er Debt
Sinking Fund the $15,000 d}4% registered school bonds described in V, 80, p. 1136.
Sheboygan County (P. 0. Sheboygan), Wis.— Bonds Not
Sold.—Onij cne bid w«e received on March 15 in conformity
chronic inearewith the advertisement for the $90,000
asylum bonds d'scribtd in V. 80, p. 1018. This bid was rejected and, it is stated, the County Bojird will endeavor tf.
This bid consit'ered
sell the bonds by popular subscjiption.
was from the Bank of Sbeboygan, which in&titution ofiftred
$86,794 for the bonds. The following offers were submitted,
provided the boEds were made to carry i% interest
—
m%
Farson. Leach & Co.. Chic... $91,471 50
91,269 01)
Mason, Lewis & Co.,Chlo
1
K!eybolte& Co..
R.
Cincin... 191,011 CO
|
Slonx City, Iowa.— Bond Sale,—-On March 7 an issue of
120 000 6^ water-maic-fxtersion bonds was awarded to the
Security National Bank for $20,150. Denomination, $1,000.
Date, March 7, 19f 5, Iiiterest, January and July. Matuxity,
"on or before" Jan. 1. 1907.
South Brcoklyi: (Ohio) School District.— Bond Electicn.
An election will bf- held April 3 to vote on the question of
issuing 121,000 schoo'.-houss addition bonds.
SpringTlHe, Erfe Conn?y, >\ Y.— Bonds Fofed.— This
village on March 21 voted to issue $13,(;00 bonds to mature
|1,000 yearly ^^frer two ye^^rR.
—
NEW^^OAjSIS.
3%
of
Maine
Common
for 19t5 in
__
K.
It 06.
Interest remiannually at the office of the City Treasurer.
Triumph, Minn.—Bond O^eringi.-- Proposals will be received until 7 P M., April. 17, by Qto. E. Brockman, Village
Recorder, for $1,400 refunding, |600 fioating-debt and $500
improvement 10-year bends at not exceeding Q% interest. Denominations—Refunding, $350; floating debt, $300, and improvrmeiit, $500. Interest semi-annually at the Commercial
National Bank of Chlcsgo.
Walker, Cass County, Mion.— Bond Q^eringf.— Proposals
t^e received uutil 8 p. m., April 17, by Odin Naustvold,
Village Recorder, for |4,0C0 6 18-year water-works and elecwill
tr{c-ligfct-p!ant-improv< ment bends. Inte^e8^, semi-annual.
Certlfitd check for $200, payable to the Village of Walker,
required with bids, Successful bidder furnishes blatk bonds.
Wurd County (P. 0. Mliiot), N. D.k.- Bond flfaZe.- The
County Commissioners have withdrawn the advertisement
Street,
WAT KRV
I
,
i
New York
(
FhiladelpMa Stock Exchange,
Stock Excliange,
New York.
Philadelphia.
Treasurer,
Waterville, Maine.
&
DAY
& CO.,
BANKERS,
85 Congress
BOSTON.
Go,
Rudolph Kgeybolte&Oo.
BANKERS,
DBALERS IN
STREET RAILWAY
BONDS.
27-29 PINE STREET, NEW
Interest Paid on Daily
NEW YORK
STOCK EXCHANGES.
STATE, MUNICIPAL, AKD HIGH GRAD
RAILROAD SECURITIES.
Blodget<5
Trowbridge & Miver Co.
Merntt
16
BONDS.
Co.,
Congress Street, Boston.
3« VAtiHAV eiTREET,
BOSTON,
Street.
&;
BANKERS
MUNICIPAL AND PUBLIC SERVICE
I
and
YORK.
Tinr.e Deposits.
MUNiCIPAL
AND
Public
Service
Corporation
BONDS.
E.H.ROLLINS
&.
SONS,
BOSTOIV.
8 Nassau Street,
MEMBERS
NEW YORK AND BOSTON
CORPORATION
60 State
BONDS.
IXVE§TTH]E]\T.
Drexel Building,
L.
Salie Street, Chicago.
CHICAOO,
Bank Bldg.
DETROIT, MICH.,
AND
43 Exchange Place,
BONDS.
Ist Nat,
COMPANY
MUNICIPAL
BOUTELLE,
Macronald, McCoy
La
H.W. NOBLE &
New York
Street,
171
CITY
LLE.
28th, 19C5.
MUNICIPAL AND
i^VESTf^E^T?
and ZVJh
BOXDS FOR
check payable to the order of the
amount equal to two per cent of the par value of
the bonds covered thereby, and the Trustees reserve
the right to reject any and all proposals presented
hereunder.
Further information may be had upon application
GECRGE
$8,249 87 6^ Alley No. 15, bords, dated Dec. 29, 1904. Maturity from 1906 to
1911. inclusive, the Ursr bond ma'urinj; March 2l», IW.
943 46 6% Twenty-first Street No. 4 pavl g bonds, dnttd Feb. 10. 1906. Maturity from 1806 to 1910, inclusive, the flrst bond maturlce Mar. 10,
BANKERS,
certified
District for an
March
Interest, annually
Purchaser furnishes
blank bonds.
Tiicoma, Wash.- Bond Election Proposed—-An ordinance
is before the City Council providing for the submission to a
vote of the question of ifeuing $500,000 water-system bonds.
Tliitf River Falls, Minn.- Bont;' OiTem, fir.— jProposals wiil
be received until 1 p. m., April 3, by Lars Backe, City Clerk,
for ?28,'
5% water-worls and eewerage bonds. Date, April
Denomination, |500. Itterest, femi-annual. Ma15, 1905.
turity, April 15, 1925. Authority, Chapter 319, Laws of 18S9.
" Purchaser will bs required to make a satisfactory depceic."
Toledo, Ohio.— Bona* Authorized.— On March 13 the City
Council authorized the issuance of the following coupon
bordf
ERVIN & COMPANY,
amendment
Each proposal must be accompanied by a
to
County Treasurer.
MUNICIPAL, RAILROAD and
P. M. on WEDNESDAY. APKJL I'^TH, 1905, at
which time they will be opened at the office of the
7
Securities are all dated April 15, '905
at tha oflace of the
2 Wall Street,
Proposals must be presented under seal and addressed to Frederick C. Thayer, President of the
Board rf Trustees, Kennebec Water District, Waterville, Maine, and endorsed •• Proposals for Bonds."
They will be received at any rime up to 7 30 o'clock
Trustees at ^o.
55S
T«W. STEPHENS & CO.,
151,000.
lt'15, $loo,OiO.
1920, *15',C00.
19k5, $e50,0i 0.
1910,
will
Laws
coupon Mud Brook Ditch bonds, maturing $8,000 April 15, 1908,
$3,000 April 15. IQO';. and HfiO« April 15. 190k. Denomination. $1,000.
6,000 5? coupon Mud Run Ditch bonds, matiirine $3,C00 yeurly on April 16
from IPOeto 19< 8, inclusive. Denomination. $l,(iC0.
1,381 5% coupon W. A. Johnston et al. Ditch bonds, maturing one bond MOO
April 16, lO.'B, one bond $400 April 16, i9u7, and oce bond $581 April
isTiocs.
110,000
TAX EXEMPT BONDS.
be Issued in denomications of
$1,000 each, and Iriterest coupons attached wlJ! l:e
payable in gold at the National Shj.wmut Bank of
Boston on the flrst days of November and May.
The bonds will be the direct obliga ion of the
District, which is a quasi-municipal corporation existing undff the proiifiions of Chapter 200 of the
Private and Special Laws of Maine for 1899, and will
be issued for ttie purprse of paying necessary expenses and liabilities incurred under ihe provisions
of the said Act and of chapter 152 of the Private
and Special
thereof.
M
PUBLIC SERVICE CORPORATION
The Trustees of the Kennebec Water District will
receive written proposals for the purchase of all
or any part of {950,CJ0'j of the bonds of the Uistrict
dated May Ist, 1905, bearing interest at the rate of
Sa per cent perannnm and payable in gold at the
National Shawmot Bank of Boston on the .'ollowlng
dates and in the following amounts-
The bonds
Sommit County (P. O.Akron), Ohio.— Bond Offering.—
Proposals will be received until 10 a. m., April 15, by
D.
Buckroan, County Auditor, for the following bonds .
NEW YORK
BONDS.
1st,
1st,
Ist,
1st,
1257
II^VESTMEiyiTS.
Kennebec Water District,
STATE OF MAINE,
May
Mwy
May
May
:
NEW
TORU..
Oe&ver.
Chicago.
San Franeisce.
R. FULTON & CO.,
Municipal Bonds,
171 LA SALLE STREET,
F.
CHiCACO.
MUNICIPAL AND
PUBLIC FRANCHISE CORPORATION
BONDS
Boueht and Sold.
W.
J.
HAYES & SONS,
STATE, CITT k RAILBOAD BONDS. CL.ETELAND. OHIO.
BOSTON, MASS.
THE CHRONICLE.
1258
cfferiDg for sale April 3 $100,000 i^i 20year funding bonds
(see V. 80, p. 670), aEd hava sold the bonds fct private sale to
tbe Northern Trust Co. of Fargo at par. Danomlnatiou,
In'erfst, March 15 and Sept, 15,
$1,0(0.
y^ a*. er^ o^y n, mahS.- Temper ary Loan.— The 1100,000 temporary loan :n anticipation of tftxes c ff<^red on March 27 was
awarded to Bond
Goodwin of Boston at 3 22^ disccunt.
Follcwirg ars thf; bi':!e :
&
DiBCOUfit.
Bond & Goodwin. B'^ston
Jackson A Cnrtii, Boston
3221
S-2H5
*3^2^%
Oeo. Mixter, Boston
*
And
|1 50
Discount.
I
I
I
I
Blake Bros.
&
Co.,
Boston,
.S-STS
l,orlii?,Tolraan<t Tuoper, B08.. 3-J456
3'5C^
Mass. lIospltHl Life Ins. Co
premium.
Lean matnree Sept. 15, 1905,
Wausan, Wi9.—3ond Sale.- On March
25 the $125,000 i%
coupon bonds described in V. 80, p. 1196, were awarded to
Fai son, Leach & Co. of Chicago, the price paid, it is stated,
being a prfmlnm of $2
250.
We
are advised
Weynesboro, Pi%.—Eonds to &s Issued.—
that this bcrcngh is tabirg steps to issue $20,000 bonds, btt
that it wi 1 probably be abcnt sixty days before the neceesary preliminary matters have been settled.
West End, Ala.— fond Cfferirg. Proposals will be received until 8 p. M., April 11, by 8. Norwood, Mayer (P. O.
Station 5, Birminghsm), for $15,000 5i eanitary-seweragesystem b( ncls. D-tte, Mny 1, 1905. Denomination, $500 or
Icterest, semi-annual (place of payment optional
$1,000,
with purchaser). Maturity, May 1, 1925. Authority, Laws
of 19G3, p. 59.
certified check for $500, payable to the Board
of Mayor and Aldermen, required. Thecffiaial advertisement
itates that the city has never defaulted on its principal or
interest, and That there is no litigation pending or threatened affecting the legality of these bonds. Bonded debt, in-
—
A
cluding this iBSue, 125,000. Assf'ssed valu>,tion 1902, fcOO,000; ac'ual valuation 1905 about $8r0,C0i3.
Whittler, Ci 1.— Bonds Voted.— The elf ction March 14 resulted in a vote of 8S4 to 41 being cast in favor cf the proposition to itsue $110,000 water-supply-improvrment bonds
Wilmirgtoa (OlJif») School Distr'ct.-Bond Cfferirg.—
P.'oposals w)ll b? recf^ivert until 13 M., April 7, hy H. G,
Cariwright, Cltra of t^-e B ard of Eduea'lon, for th>' $0 nno
i% coupon bnildir g bonds voted at the elec-ioa March 1, 1905,
INVESTMENTS,
&
Perry, Coffin
Denomination, |500. Date, April 7, 1905. Itterr s% March
Maturity, $500 each six montbs from Sept.
and September,
H. M.
inclutive.
^% deposit required.
this issue, $18,5C0; flaating debt,
$4,000.
Assessed vaiuation 1905, $1,761,346.
WiBdsor (111.) School District.— Bond Sale.— The |5,5C0
school-building bonds voted last fall hsve been told to the
Commercial State Bank for $5,525.
nomination, $5C0,
Interest aiinually in Jnly.
Maturity, |1,000 yearly.
H
D
Wtii8ide(Neb.) School Mitriet. —Boni Sale.— Thia town
on Mar, 15 sold &n istue of $8,500 i^i 10-year building bonds
to tbe Security & Investmect Co. of Lincolc. Securities are
dated Feb. 27, U'05, and the interest will be payable Jan, 1
and Jnly 1.
Wclba( h School District No. 43, Greeley County, Neb.—
Bond Offering.— ProT^osa^e, will be received until 1 p. M, to dsy
(April 1) by C. C. Campbel', Distiict Clerk, for $3,600 Q%
bonds. Date, April 1, 1905. Denomination, optional. Interest 8«- mi annually in Greeley Center, Neb.
Maturity,
April 1, 1915. subject to call April 1, 1910. The district has
no bonded debt. Asaeesed valuatioa, |72,65C; real valuation
abont $125,000.
Worcester, Slais.— Temporary Loan.— A $100,000 tempo-
m
rary loan
anticipation of th? collection of tax 93 was recently awarded to F. S. Mose'ey
Go. of Boston at 3 20ig
disccunt and a premium of |1 25. Following are the bids :
F. S. Moseley & Co. (11 25 prem.).3-2C!{ Edgerly & Crocker, Boston
8'32)t
3'2i* Merchants' Nal. Bk., vvorcester..3'87){
Jackson & Cnrtis, Boston
3-30% Bond & Goodwin, Boston
Brown Bros. & Co., Boston
3"38*
&
I
I
|
Geo. Mixter, Boston
60 State Street,
I
annual.
TelloTFStcne CoaBty (Jfont.) S( hool District No. 2.— Bond
Sale.-Oa March 2 an issue of $12,000 4>^« 10-20-year (optional) school-building bonds was awarded to N. W. Harris
Co. of Chicago at 101'C68— a basis of about 4%^ if bonds
are called at their optional date and 4 42i if allowed to run
'tiPir full time.
Denomination, $1,000. Datp, Meroh 1, 1905.
Interest, t;emi-annua1.
&
TRUST COMPANIES.
Byllesby
& Co.
CONSTRUCT AND OPERATE
RAILWAY LIGHT, POWER AND
HYDRAULIC PLANTS.
DESIGN,
'"'iJnf.uT $9,500,000
Title guarajntee
andTRUST company
146 Eroadway, New York.
175 Eemsen Street, Brooklyn.
M'Prs Branch, 198 Montagu© St., Br'klyn.
Examines & guarantees Real Estate Titles,
Zioans Money on Bond and Mortgage,
Furnislies 3Zortgages to Investors,
Seceives Deposits subject io check, allowing
Examinations and Reports.
Interest.
Does
New York
%
is
ENGINEERS.
BOSTON.
'6'3'
dated March 81 and matures Qjt, 12, 1905.
f&kima Cfiuaty (Watli.) School District No. 33.— Bond
Sale.— On March 25 an issue of |1,5'"0 i^i 1-20 vear (optional)
rtfandtng bonds was awarded to the State of Washingtcn at
par.
Denomination, $500. Dite, March 25, 19(5, Interest,
Loan
INCORPORATED.
INVESTMENT BONDS.
A
to March 1, 1926,
Bonded debt, Including
1, 1908,
ENGINEERS.
Burr,
Life Buildino',
CHICACO,
all
Trust
ILL,
Company
The American Mfg. Co. BALLANTYNE & EVANS.
MANILA. SISAL AND JUTE
ENGINEERS,
CORDAGE.
Exa^tinations and Reports on Physical and
Operating Values of Manufacturing
Properties.
New
Street,
York.
22
PINE STREET, NEIY YORK.
The Audit company
OF
HIGH GRADE
York,
New
ORGANIZED
Edward
T. Bedford,
Charles
S.
Eflsar L. Marston,
J. Matlieson,
Charles Matlack,
William
Brown,
Jiilien T. Davies,
William J. Easton,
WiUiani H.
Charles R. Henderson,
Benjamin D. Hick.s,
John D. Hicka,
Robert Olyphant,
Alexander E. Orr,
Charles A. Peabody,
^<'ichols,
James H. Oliphant,
WUUam M. Insraham,
Augustua D. Juilliard,
Frederick Potter,
Charles Richardson,
Elihn Root,
Sanford H. Steele,
Ellis D. Williams,
Louis Windmuller.
CLARENCE H. KELSEY, President.
BAILEY, Vice-President.
Martin Joost,
John S. Kennedy,
Woodbury Langdon,
James D. Lynch,
FRANK
EDWARD Miiuaj;er
O. STANLEY,
2d Vice-President.
Banking Department.
CLINTON
1807.
INVESTMENT BONDS
business.
TRUSTEKS:
John Jacob Astor,
65 Wall
.ox.
[Vol,
J.
FRANK
NEW YORK:
L.
BURDICK, 3d Vicc-Pres.
CLEVELAND, Secretary.
D.
WRAY
SXIFFEN,
:>r!2T.
^Itjfrs' Brancli.
43 Cedar Street.
NO STOCKS
COltRESPONDENCE SOLICITED
WHITING'S PAPERS.
CHICAGO,
fHILiADELPHIA.
AUGUST BELMONT,
Actlnft Presidecu
Municipal
&
Qecurities
U
Corporation
Company
OF PITTSBURGH, PA
.
Paid up Capital $aoo,ooo.oo
We Make
CO.
J.
Goodhart
Memben
Ifeto
-
FERINE,
&
For Bnalnesa Correspondenoe.
THE SOUTH.
RuMlneMii
OpportanltleM, Inventmenl
Co., METROPOLITAN INVESTMENT
NKAV YORK.
GHO.
hOWAKDa,
CO.
President, Charleston, 8.C.
Commercial and Financial Aiient
Baalness nndortuken in all parts of tis j world.
Satisfactory references
B.
for letter written with your own band, or
'jythe typewriter, are UNKQUALKD. Their quality
.s HASured and they have won hiKhest honors at all
Lhe Kreat World's Kalrs. For hlRh srada wrltlna
papers of all kinds, for bond papers, and for ledger
papers, Insist on havlncc them made by the
Whether
ludnwtrlal l*roperlIcN, Farm or Town
aiorteaKeii In all parts of tlie »(outli.
York Stock Exchcnge,
SI BROAD'fVAY,
T.
SernrltiefitlCealEfiitato, Timber, Tlincn,
STOCKS.
P.
Vice-Presidents.
Gen'l Mgr. and Treas.
K. C. RICHARDSON, Assistant Treasurer.
This Company Audits and InTCBtlgateg Accounts
and makes Physical Kxamlnatlc us of Properrles
Its ("ertlfloates and Reports are Prepared In behalf
of Merchants, Bankers, Corporations. Conimitteee
and others, lu strict confldence. The Company also
Devises and Installs Money-Sarlng Systems of
EDWARD
Keeplne Accounts.
a Specialty of
BANK AND TRUST
JOHN J. MITCHBLL
GEORGE W. YOUNG,
iV^ILlilAM A. NASII,
WHITING PAPER COMPANY,
UOLYOKE,
N«w
York.
IflAHH.
Philadelphia.
ChicaeOi
@FedFRASER