The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
Tii
flunrrci
INCLUDING
v...onthly)
lk
Bank and Quotation Section (tr
Railway and Industrial Section(Quarterly)
State and City Section(Semi-Annually)
Electric Railway Section(Th a'gres)
SATURDAY, APRIL 10 1909.
VOL. 88.
The Throuide.
NO. 2285.
Week ending April 3.
Clearings at
1909.
PUBLISHED WEEKLY.
1908.
Inc. or
Dec.
1907.
1906.
$10 00
For One Year
6 00
For Six Months
13 00
European Subscription (including postage)
7 50
(including postage)
European Subscription Mx months
£2 14s.
Annual Subscription in London (including postage)
21. 115.
Six Months Subscription in London (including postage)
$11 50
Canadian Subscription (including postage)
Supplements
Subscription includes following
I STATE AND CITY (semi.annually)
11 A NK AND QUOTATION(monthly)
RAILWAY AND INDUsTNIAL(quarterly) 1 ELECTRIC RAILWAY(8 tIM013 yearly)
Terms of Advertising-Per Inch Space
$4 20
Transient matter per inch space(14 agate lines)
l
(8 time
22 00
Ti
s wo:Ionths
29 00
Three Months (13 times
Standing Business Cards / x onths
50 00
(26 times
87 00
Twelve Months(52 times)
-P.Bartlett,513 Monadnock Block; Tel. Harrison 4012,
CHICAGO OFFICE
& Smith,1 Drapers' Gardens, E. C.
LONDON OFFICE-Edwards
WILLIAM B. DANA COMPANY,Publishers,
•
Front. Pine and Depeyster Stn.,
P.O.Box 058.
New York.
Published every Saturday morning'by WILLIAM B. DANA COMPANY
William B. Dana,Preahlent; Jacob Seibert Jr.,Vice-Pros, and See.; Arnold
G. Dana,Treas. Addresses of all,Office of the Company.
CLEARING-HOUSE RETURNS.
The following table, made up by telegraph, dm, indicates
that the total bank clearings of all clearing houses of the U.S.
for week end. Apr. 10 have been $2,907,676,968, against $3,366,712,826 last week and $2,145,796,248 the week last year.
Clearings-Returns by Telegraph Apr. 10
%
1908.
1909.
Nev York
Boston
Philadelphia
Baltimore
Chicago
St.: Louis
New Orleans
$1,600,478,553
138,635,949
85,170,388
17,735,106
207,329,875
51,741,953
13,237,904
$939,805,830
103,338,374
87,117,620
17,542,698
177,956,048
46,943,953
12,377,355
+70.3
+34.2
-2.2
+1.1
+16.5
+10.2
+7.0
heven cities, 5 days
Other cities 5 days
$2,114,329,728
390,418,623
$1,385,081,878
360,002,384
+52.6
+8.5
Total all cities, 5 days
All cities, 1 day
$2,504,748,351
402,928,617
61,745,084,262
400,711,986
+43.5
+0.6
$2,907,676,908
$2,145,796,248
+35.5
Total all cities for week
The full details for the week covered by the above will be
given next Saturday. We cannot furnish them to-day,
clearings being made up by the clearing houses at noon on
Saturday, and hence in the above the last day of the week has
to be in all cases estimated, as we go to press Friday night.
We present below detailed figures for the week ending with
Saturday noon, April 3, for four years.
Week ending April 3.
Clearings at
1909.
1908.
Inc. or
Dec.
1907.
1906.
$
$
5
New York
2,224,396,229 1,428162,724 +15.7 2,006,935,285 2,225,525,028
Philadelphia _ _ 133,467,594 123,876,439 +7.7 162,345,342 157,409,807
62,376,627
62,375,271
42,873,668 +2.4
Pittsburgh
43,888,580
32,295,954
31,346,359
26,048,260 +0.2
Baltimore
26,113,686
7,490,747
8,887,248
Balo
7,866.217 +1.2
7,958.353
5,734.536
7.648.141
17.8
5.036,017
6,124.377
Albany
6,785,991
6,854,145
Washington _
5,634,022 +11.5
6,282,926
5,491,338
5,325,411
Rochester
5,018,118
4,254,206 +18.1
2,347,855
Scranton
2,705,566
2,800,778
2,455,924 +14.0
1,895,419
11.6
2,267,146
Syracuse
2,389,741
2,068.972
2,109'372
ng
2,249,191
2,383,974
1,819.597 +23.6
1,524,539
1,618,087
1,472,591
Wilmington
1,382.872 +6.5
1,051,684
1,191,705
1,065,831
+2.1
Wilkes-Barre
1,043,797
1,013,407
1,369,319
1,279,184
+1.0
1,355,525
Wheeling
1,555,084
1,683,224
1.162,744 +33.8
Harrisburg
1,614,680
1,466,220 +10.1
YOrk
556,203
663,243
605,367 +9.6
710,137
Erle
481,392
460,961
,
500,870 - -.6.8
598,391
Chester
516,700
465,700
475,400 -2.0
549,500
BEnghamton - 688,307
500,000 +14.8
779,856
. 574,160
Gteensburg
419,317
.
Altoona
364 857 +14.9
255,764
270,852 -19.5
318,204
218,017
Franklin
1,326,353 Not included in total
TIenton
Total Middle_ 2,439359.347 1,660,583,679 +46.9 2,307,802,176 2,515,550,670
oston
F
ford
N w Haven
ingfield
tland
orcester
Fall River
New Bedford _
Lowell
Holyoke
yr
177,560,481
7,708,800
4,041,899
3,908,353
2,246,065
1,917,934
1.686,452
1,080,546
895.818
418.755
523,171
144,268,374
0,081,000
3,510,696
2,644,591
1,532,185
1.909,705
1,518,798
844,677
843,381
516,725
433,019
+23.1
+26.8
+15.1
+47.8
+96.6
+0.4
+11.1
+27.9
+6.2
-19.0
+20.8
185,972,226
7,930,600
4,669,173
3,099,50i
2,441,10
2,164,00
1,738,141
1,095,310
788.645
549,829
632,080
177,093,290
7,873,200
3,781,141
2,818,682
Z236,928
2,494,273
1,630,750
1,061,423
653,147
487,380
504,338
. Total New Eng.
201,988,274
164,103,151
+23.1
211,080,618
200,634,558
R
Chicago
Cincinnati
Cleveland
Detroit
Milwaukee
Indianapolis __- _
Columbus
Toledo
Peoria
Grand Rapids-.
Dayton
Evansville
Kalamazoo
Springfield, Ill__
Fort Wayne ____
Canton
Lexington
Youngstown _ _ _
Bloomington_ _ _ _
Rockford
Akron
Quincy
Springfield, Ohio
South Bend
Decatur
Mansfield
Jacksonville, Ill_
Jackson
Ann Arbor
Adrian
Danville
$
259,111,195
25,853,150
15,488,494
13,025,346
10,560.449
6,654,966
5,631,400
3,785.581
2,654,320
2,268,667
1,476,658
1,915,018
1,079,762
959,941
881,328
825,000
688,611
858,525
675,228
652,849
635,000
875,000
449,740
406,153
387,808
369,188
293,533
330,000
152,157
19,213
648,929
$
237,478,201
25,158,750
14,693,423
12,029,375
9,521,390
6,958,758
4,734,500
3,667,513
2,630,661
2,075,949
1,408,043
1,571,323
959,350
816,972
794,524
602,618
594,880
533,164
672,784
558,940
525,000
529.183
475,012
388,386
362,437
334,052
268,512
300,000
152,892
35,548
498,432
%
+9.1
+2.9
+5.4
+8.3
+10.9
-4.4
+18.9
+3.2
+0.9
+9.3
+4.9
+21.9
+12.5
+17.5
+10.9
+36.9
+15.8
+61.0
+0.4
+16.8
+21.0
+65.3
-5.3
+48.4
+7.0
+10.5
+9.3
+10.0
-0.5
-46.0
+29.8
$•
239,321,827
29,750,550
18,338,051
12,681,256
9,685,996
7,893,273
6,525,500
4,519,123
3,004,352
2,514,965
2,597,267
1,854.922
1,208,396
924,562
766,686
844,573
685,351
1,058,946
520,386
637,834
717,000
568,119
507,783
495,640
367,787
409,222
287,492
326,121
168,336
36,000
$
203,754,413
28,602,600
19,755,810
11,722,699
8,725,666
6,590,756
5,800,100
3,703,864
3,439,288
2,914,089
1,977,892
1,506,040
837,812
829,005
750,351
764,755
663,133
683,853
530,778
402,964
540,600
473,476
416,735
414,520
293,460
398,130
243,736
221,833
148,604
Tot. Mid.West.
Terms of Subscription-Payable in Advance
359,613,207
331,330.572
+8.5
San'Francisco _
Los Angeles
Seattle
Portland
Salt Lake City
Spokane
Tacoma
Oakland
Sacramento
Helena
Sioux Falls
Fargo
San Jose
Stockton
Billings
Fresno _
North Yakima _ _
349,217,316
306,386,962
41,260.542
31,971.672 +29.1
47,557,899
9,813,337 +22.7
12,041,310
13,857,944
7,406,827 +43.6
8,854,449
10.638,112
6,737,454
6,825.000 -1.3
7,313,572
4,228.186 +54.8
6.124,145
6,545,791
5,551.622 +14.5
6,355,051
5,740,885
4,709.032 -2.6
4,588,213
4,850,500
1,606,493
+6.9
1,716,852
3,615,937
845,000
784,819 +7.7
800,000
598,43 +33.7
997,658
525,000 +86.7
980,000
461,950
460,254
486,461
430,379 +6.9
450,000
+19.0
378.
514,057
483,452
349,799 +38.2
258,735
154,397 +67.6
394,612
420,000 -6.0
362,840 Not included In total 'NW
46,811,914
11,924,398
8,422,990
4,816,566
5,339,789
4,449,156
3,859,869
684,596
374,760
495,195
Total Pacific
94,555,378
75,332.993 +25.5
100,375,468
87,179,233
Kansas City __
Minneapolis
Omaha
St. Paul
Denver
St. Joseph
Des Moines
Sioux City
Wichita
Lincoln
Davenport
Topeka
Cedar Rapids ..- Colorado Springs
Pueblo
Fremont
42,041,820
15,516,251
14,122,020
8,884,244
9,618,373
6,248.488
3,945,783
2.785,316
2,204,189
1,435,000
1,791,918
1,129,298
1,082,454
825,000
420,787
338,136
37,169,984 +13.1
18,411,482 -15.7
12,357.310 +14.4
8,708,939 +2.0
7,520,599 +27.9
5,306,064 4-17.8
3,241,635 +21.7
2,513,469 +10.8
1,196.940 +84.2
1,303.885 -(-10.1
1,262,788+41.9
950,798 +18.6
.
800 165 +35.2
753,266 +9.5
546,587 -23.1
305.609 +10.6
30,056,609
20,854,518
10,667,730
9,132,999
7,340,953
6,097,515
3.452.758
2,494,595
1,420,875
1,402,837
1,539,629
981,914
805,815
675,000
500,986
293,520
22,876,080
17,038,231
9,457,342
7.068,930
6,422,804
5,432,477
3,188,507
2,146,776
1,039,209
1,111,814
1,964,354
753,937
62/4,978
710,965
435,609
263,452
Tot. oth.West_
112,389,077
102,349,520
+9.8
97,718,303
80,539,465
63,617,486
St. Louis
13,910.144
New Orleans_ __ 13,916.867
Louisville
14,989,440
Houston
Galveston
5,595,000
6,000,367
Richmond
' 4,802,342
Atlanta
4,850,604
Memphis
3,377,605
Savannah
3,900,000
Nashville
5,700,000
Fort Worth 2,323,120
Norfolk
1,755,000
Birmingham
1,731,040
Jacksonville
2,059,327
Augusta
' 1,474,278
Mobile
1,451,000
Knoxville
1,225,000
Chattanooga _
1,560,697
Little Rock
1,041.407
Charleston
1,450,000
Oklahoma
524,193
Beaumont
704,437
Macon
782,853
Austin
279.336
Vicksburg
58,323,643
14,730,289
11,040,013
10,781,392
6,123,000
5,329,115
4,252,585
4,778.803
3,271,039
2,931,329
4,750,000
1,778,973
1,856,103
1,454,693
1,373,737
1,179.252
1,450.000
1,173,503
1,213,880
1,184.556
984,088
615,508
495,005
600,784
289,083
+9.1
-5.5
+26.1
+39.0
-8.6
+12.6
+12.9
+1.5
+3.2
+33.1
+20.0
+30.6
-5.4
+19.0
+50.0
+25.4
+0.07
+4.4
+28.6
-12.1
+47.3
-14.8
+42.3
+27.0
-3.4
58,363,424
19,025,694
14,217,600
7,510,002
6,804,000
6.186,469
5,184,024
5,157,213
3,116,559
4,553,731
3,200.868
2,695,695
2,245,852
1,733,741
1,389,512
2,192,209
1,786,149
1,477,501
1,292,811
1,308,150
964.020
531.655
775,000
57,055,246
18,009,341
13,994,776
9,199,214
5,663,000
5,591,631
9,592,365
4,908,548
4,318,801
5,245,533
2,692.893
2,100,001
2,049,610
1.337,701
1,996,903
1,729,577
1,482,843
1,485,122
1,127,774 ,
1,374,945
939,929
375.000 ,
849,405
141,500,373 +12.4
151,691.212
Total Southern
.
0, Total all
159,007,543
Outside N. Y_.. 1,142,316,597 1,047,037,584
Canada
Montreal
Toronto
Winnipeg
Vancouver
Ottawa
Quebec
Ifalifax
Hamilton
St. John
London
Calgary
Victoria
Edmonton
Total:Canada -
148,021,167
7
4
3,366,712,826 2,475,200,2887 36.0 3,217,884,983 3,338,312,055
+9.1 1,210,939,748 1,112.787.027,
+20.4
+21.1
+22.6
+97.9
+8.4
-1.3
-14.4
+0.8
+19.9
-17.6
+73.3
+17.6
+26.2
29,350,000
25.143,692
10,936,389
4,210,000
2,939,070
1,835,000
1,300,000
1,381,889
1,199.511
986,
1,546,1''
935,000
805,000
24,384,140
20,764,855
8,923,550
2,847,763
2,763,284
1,859,664
1,518.422
1,370,484
1,000,483
1,197,847
892,741
794,935
637,819
82,568,551
68,955,9671 +19.7
22,914.023
24,110,455
8,617,967
2,755,188
2,804,899
1,484,111
1,639,124
1,834,514
91 t.610
1,583,403
1,274,500
648,025
753,219
71.331.038!
27,788,466
23,264,402
8,060,973
2,269,026
2,820,615
1,495,255
1,879,088
1,564,037
1,011,675
1,263,042 ,
i
957,446 t
i
72,374,025_:
904
THE CHRONICLE
THE FINANCIAL SITUATION.
The movement of national bank notes to Washington for current redemption appears to have been increasing recently. We mentioned a notable incident
of a single New York City bank the last week of February sending $467,000 of such notes. Because of this
increase in volume and detention in the process o f
redemption, the accumulation of national bank notes
in the general fund at that time amounted to 29
million dollars. The Comptroller of the Currency at
the beginning of this month (April) made effective a
new plan which it is thought will result in facilitating
the process of such redemptions, so that more prompt
reimbursement of the 5% redemption fund can be
obtained. Under the new plan those emitting banks
whose 5% redemption fund is sufficient for redeeming
notes as they are presented will have the new currency
which replaces that which is unfit for use shipped to
them on the day that the old or soiled notes are currently redeemed. The redemption department of the
Treasury will send to the Comptroller a list of the
banks whose notes have been redeemed by it on that
day, and the Comptroller will,through the issue division, ship the new circulation promptly,.making
requisition upon the emitting bank for the reinforcement of its 5% redemption fund that has been impaired. Through the process here described it is
expected that there will be a saving of much time in
completing current redemptions, which saving
will contribute to relieving the general fund of the
embarrassment that has heretofore occasionally threatened by reason of constant drafts apon that fund by
the Treasurer when current redemptions are excessive
in volume.
The market at the moment for foreign exchange
is in a state of quietude. This may be in some part
due to slackened business incident to the Easter holidays; there is, though, but little expectation of immediate revival even after these events shall have passed.
Inherent activities are not invoked, because such
effort might invite the development of conditions
that would be perhaps more or less disturbing in their
character. On the other hand, to let capital lie dormant is quite disappointing and often induces venturesome risks in the effort to find employment when not
procurable in legitimate trade. The close uniformity
of money rates at monetary centres forbid exchange
operations hither and thither of capital to realize
the slight advantage resulting therefrom, since
capital can usually be employed at such a time at no
greater rate here than abroad, or vice versa. Hence
its transference in either direction would be without
important gainful incentive.
Consequently, being restive because of the absence
of gainful operations, a condition of partial inertia
exists in foreign exchange; in that state of affairs
bankers with conservative tendencies refrain from
speculation; while others, having been burnt at times,
and thereby incurring important losses, are taught by
experience to fight shy of the like now. Moreover, the
legitimate and hitherto more or less profitable operations incident to the absorption of commercial exchange
and its conversion into credits through discounts and
payment at maturity, thus enabling bankers' drafts to
be employed for utilizing such credits, are now possi-
taxxvin.
ble only to a limited extent. Furthermore, exports of
commodities have been abnormally restricted in volume
through speculative manipulation in the unmarketed
remnants of the principal staples, which have thus
been advanced in price to figures almost prohibitive
of their purchase for export. Hence the market has
been kept bare not only 9f commodity bills but of
those which would directly result were the export
movement free and normal.
In the absence of a body of exchange legitimately
created as a result of drawings against credits established through the negotiation of commodity bills,
almost the sole reliance of bankers is now upon the exchange that is made through international operations
in securities. Speculations in • such securities are
therefore promoted by bankers who take advantage to
the fullest extent of the facilities that are provided by
the cables with those of the European markets where
Americans are the favorites, and in this way capital
which otherwise would be employable to a comparatively limited extent has a broader field for use. This
dependence upon speculation in securities by foreign
banking interests was clearly indicated this week.
We have noted above that the inertia in foreign exchange was due very largely to business suspension
here and abroad on account of the Easter holidays.
We notice London cables dispatched on the eve of
Easter reported such extreme ease in monetary and
discount conditions at that center as 1% for call
money, or loans between settlements, and 13/2% for
short or 60-day discounts; such rates are not unusual
when great plethora prevails at the British capital. The
discount rates were even lower at Paris, where 14%
was recorded, while at Berlin 2% was reported. This
condition of the European discount markets does not
necessarily indicate an early reduction in official rates
of discount, though a lowering of the Bank of England
rate may be possible in order to enable the Bank to
regain control of the open market. The probable
policy of the Bank of France with respect to its
official rate should be taken into consideration. This
Bank would scarcely assume the initiative in the movement, though it might effect a reduction were the
English Bank to lead. Perhaps such action by the
latter may be deferred until business and speculation
shall revive so as to stimulate monetary and discount
activity and thus cause a closer approach of the unofficial toward the Bank rate.
There were exports the current week on London
account of $1,000,000 gold coin to Argentina, making,
with the $500,000 shipped last week,$1,500,000 since
the resumption of this movement, which was interrupted a fortnight ago while exports to London direct
were in progress. There was also an export the current
week of $500,000 to Rio de Janeiro to pay for imported
coffee. It is said that the Argentina requirements are
in large part for internal improvements. It may be
noted, also, that the imports of coffee from Rio de
Janeiro were unusually large last month in anticipation
of a change in coffeeS duties in our tariff.
We wonder if many persons appreciate how the
burdens of taxation against the railroads of this State
are being increased under recent laws, and particularly
the so-called franchise tax laws. The officials of the
Long Island R.R. have furnished us with some figures
which show in a striking way what is going on in the
APit. 10 19O.]
THE CHRONICLE
905
particular mentioned. The Long Tsland RR.serves as expect elimination of grade crossings, improved service
an excellent illustration because it can be truthfully or reduced rates of fare, and obviously it is impossible
affirmed that it is about as poor as any railroad in the to deny the truth of the assertion. To us it seems
State, and it cannot be claimed, therefore, that the that they will be doing well if they manage to keep
additional burden is being laid upon property well able the road a going concern.
to bear it. Prior to 1908 no assessment was made
Exactly at the middle of this week; and a day or
for a franchise of steam railroads crossing a public
highway existing previous to the time of its construc- two before the lately promised date, the two halves
tion unless the highway was 200 feet or more in of the floor of the river span of the Manhattan Bridge
width. But the 1907 Legislature amended the law, came together at the centre, and in .a few days more
and now the roads are subject to a franchise tax on the gaps at the anchorages will close and make it
every highway crossing which existed at the time the possible for Mayor McClellan to carefully pick his way
tracks were constructed, regardless of width. Note across. The progress of the greatest suspension bridge
now the result in the case of the Long Island RR. In of the world has latterly been an interesting sight for
1907 the lines of that company were assessed upon citizens whose daily trips take them within view of it.
franchises to cross or occupy public streets upon an Much time was spent, after the tower foundations
aggregate valuation in all the different towns and were laid, in dallying between rival plans for the susboroughs of $289,200. In 1908, on the other hand, pended structure; but since the work commenced in
the assessments for practically the same property earnest is has been pushed with probably unexampled
were fixed upon an aggregate of no less than $5,221,320.. speed. The latest bridge is the most commodious,
We are told that a careful analysis of the amount and from the viewpoint of engineering and mechanics
of railroad track crossing streets, or running within it is very interesting. It adds another picturesque
the limits of streets, for which the franchise tax was object for the sightseer and increases the spectacular
assessed, shows that the assessed valuation amounted beauty of the harbor, as well as the burdens of the
to over $800,000 per mile of track. Traction lines struggling Public Service Commission; but it reminds
occupying longitudinally the full length of streets us anew that something over forty millions have been
were assessed at about $30,000 per mile, but steam expended without even the settled adoption of a plan
railroads which crossed public highways (the fee title whereby these great structures become parts of a
to which in many instances was held by the railroad transportation whole.
company) either above or below grade, or at grade,
The lack has long been noted and deplored. One
were assessed in some cases upon a valuation of more bridge has been almost 26 years in use; another was
than $1,000,000 per mile of track. These extraordin- nominally opened more than 5 years ago; another has
ary franchise valuations are the more noteworthy inas- just been opened to partial use, and the fourth will
much as under the Public Service Law of this State apparently be finished before any large, definite ada corporation is prohibited from capitalizing any public vance is made upon the original notion of an improved
franchises. In other words, for taxation purposes ferry to get people over the river, leaving them to rethe franchises have a very high value; for the purpose assort themselves on the other side. The cars that
were forced upon the first bridge, which was never
of capitalization and income they are worth nothing.
The figures given relate to the valuations for 1908. planned for them, and the partial service on the second
The valuations made for 1909, it is stated, exceed one, have qualified the traffic pressure; yet still the
those for 1908. The company's officials very properly bridges are terminals instead of parts in through lines.
The lack of completeness and plan has some new
are resisting payment of taxes on such excessive
amounts. They have said to the State Board that point at i3resent as bearing upon the attitude towards
upon thq assessment being placed upon some fair and the construction of new subways by private capital.
reasonable valuation, the company was ready to pay Some insist that the key of future usefulness of the
its taxes immediately; hut it would not submit to latest bridge is in the mooted Fourth Avenue subway,
extortion. The case of the Long Island RR. in thus which has been planned ultimately to perhaps reach
having its assessments multiplied almost twenty times Staten Island itself. Nobody is hostile to that submay be an extreme one, and yet its experience is by way on the score of desirability; its necessity is another
no means unique. A large number of other corpora- question. Nobody objects to its construction by pritions have also had their valuations heavily raised, vate capital as an abstract proposition; but the inand, feeling that the burdens placed upon them are terests most directly concerned seem to prefer to let
unwarranted and confiscatory, have gone into court the public pay for the work. On the other hand, the
and are contesting the assessments.
grounds for that preference are indicated by the fact
As far as the Long Island RR. itself is concerned, that private capital does not look favorably upon the
it is important to point out that, notwithstanding line as a business investment, in itself, while the old
that the company has not'for years been able to pay jealousy still avails to prevent offering capital what
a dividend to its shareholders, the total taxes paid it deems reasonable inducements.
The most recent evidence of this obstructive jealousy
by the Long Island system for 1908 amounted to more
than 4% of the gross revenues of the company. With is the argument now urged in Albany in favor of the
the increase in assessment and the increase in the pending amendment exempting so-called self-sustaintax rate in Greater New York, its taxes for 1909, it is ing properties from the operation of the debt limit.
figured, will amount to nearly 5% of the gross income, The argument is that if private capital finds that limit
and if the special franchise tax is paid on the valuation is really an estoppel upon further construction by the
made by the State Board, the total taxes will exceed city, it will take advantage of the situation and offer
5%. With such burdens placed upon it the officers the alternative of onerous terms or of waiting for more
of the company claim that the public can hardly subways. Therefore, it is urged, the city must be in a
906
THE CHRONICLE •
position of legal ability to go on borrowing almost
without limit in order to save itself from being forced
into a corner.
Does this feeling possibly grow out of a fear that
private capital, being owned by human beings, might
feel inclined to retort upon the public for the promptness of the supposed discovery, as soon as the present
subway was open, that a too-easy bargain had been
granted the operating company? On the contrary,
only this ungrounded jealousy, more than anything
else, has retarded subway development.
[VOL.
Lxxxviii.
explanation, it is stated that there was a lack of snow
covering during the winter and wheat was consequently greatly injured by the sudden changes from
warm to exceedingly cold weather. It is furthermore
intimated that a portion of the land sown will be
plowed up and planted to other crops.
With the start of the crop below the average, it is
important to note that private reports covering the
period since the first of April give a less unsatisfactory
view of the outlook. This is particularly true of the
advices received by the "Cincinnati Price Current,"
which it interprets as indicating improvement in
Grain market interest the current week has centred condition and holding out encouragement for a better
around the report on the condition of the winter-grain yield than had been looked for.
crops for April 1, which was issued by the Department
of Agriculture on Wednesday. Prior to the issuance
Progress towards a sounder mercantile and indusof the report, in anticipation of a poor showing for trial situation in the United States continues to be
winter wheat, an active speculation in that grain was in reflected in a decreasing volume of commercial failures.
progress in the various important markets that carried It does not follow, however, that all the effects of the
prices to a high record level, which has since been changed business conditions that late 1907 brought
quite well maintained. And this notwithstanding have been effaced. To foster such a belief would be
the fact that the general condition, as reported, was clearly misleading. As compared with a year ago,
hardly as low as earlier-issued State reports had seemed however, the situation, measured either by number of
to portend. The Government report, as announced, failures or the liabilities incurred thereby, is of course
made the average condition of winter wheat for the very much improved; but if we go back to 1907, or
whole country materially lower than on April 11908, in fact to any year since 1897, only excepting 1904, we
comparison being between 82.2 and 91.3, and showed find no cause for special satisfaction in current exhibthat since Dec. 1 1908 there had been a deterioration its. So severe an upheaval as was witnessed in the
of 3.1%, whereas during the like interval of the fall of 1907 leaves an aftermath that continues for
previous season an improvement of two-tenths of 1% a long time.
And while business conditions
was noted. Furthermore, the current April condition as a whole may now be said to be quite satisfactory,
is lower than in any year since 1904, when the per- many of the failures being reported can be traced back
centage was 76.5, and is 4.4% below the average for to 1907 in looking for the cause. A vain struggle to
the ten years 1899 to 1908 inclusive. Considering the avoid bankruptcy has been kept up until no longer
foregoing low indicated condition of winter wheat possible. But with the gradual elimination of what
this year in connection with the 5.6% reduction in may be termed the weak element the time more nearly
area reported last December, we are not permitted to approaches when, measured by the volume of inconsider the outlook for one of our most important solvencies, a normal situation will again have been
grain crops as satisfactory at this time. Much returned to.
depends upon the weather the next few months,
March reports of failures furnish quite clear evidence
however, and with that favorable there is still time to of improvement not only in that the total of liabilities
secure a pretty good yield.
of failed firms was less than in preceding months of
As regards the condition in the various States, it is the year 1909, and much below the aggregate for
to be noted that in many instances much lower per- March 1908, but with one exception lower than for
centages are reported this year than last. Ohio is any month since July 1907. Furthermore, there were
especially conspicuous in that respect, a condition of few failures for important amounts. The Bering
60 this year comparing with 85 last year and a ten- Coal Co. of Chicago, pressed by creditors to whom it
year average of 81. Texas records a deterioration of owed upwards of $1,000,000, was placed in the hands
29 points from last year, the contrast being between of receivers early in the month, and this was the largest
66 and 95; and Indiana's current percentage is 68, insolvency of the month. But there were several
against 90 in 1908. Condition in Illinois on April 1 failures for amounts ranging from one-eighth to onewas 70, against. 92, and in Missouri 79, against 93. half a million, among them being a department store
Kansas, the most important wheat producer, does not in Cleveland, a Western grain company, a foreign
make so poor a comparison as the States previously sugar refining company with offices in this city, a furmentioned, its condition this year at 86 being 9 points nishing goods house, an iron concern (J. B. & J. M.
below 1908 and 3 points lower than the ten-year Cornell Co.), a stock brokerage firm (Hackley, Baxmeah, and in Nebraska the relation with last yeai is ter & Seed) and a real estate operator also, all located
even " a little better. In Pennsylvania, California, here. The aggregate bankrupt liabilities for the
Washington, Oregon and several Southern States 'ate month, according to Messrs. R. G. Dun & Co., Was
' Situation now is reported better than in 1908 or the $13,718,052, represented by 1,274 failures, and this
ten-year average. The report in detail will be found compares very favorably with the 1,339 in number
in our "Breadstuffs" department.
and $21,542,106 indebtedness reported for March
Reports issued under State supervision, as already 1908. Bank suspensions have cut no figure in March
intimated, are in some instances not well in accord this year, but in the month of 1908 failed institutions
with the Department of Agriculture. The Missouri reported liabilities of $6,530,364.
report,for instance, gives the condition of winter wheat
For the three months of 1909 the number of failures
April 1 as only 70;against 79 by the Department. In was13,850 with combined liabilities of $44,460,950,
APR. 10 1909,]
THE CHRONICLE
comparing with 4,909 with indebtedness of $75,706,191
in the corresponding quarter of 1908 and 3,136 involving $32,075,591 in March 1907, which was, with one
exception (1899), the lowest total in over twenty
years. Manufacturing disasters make up $19,914,898
of this year's first quarterly aggregate, against $33,256,857 for the same period a year ago and $13,779,057
in 1907; among traders the comparison is between
$20,695,327 and $31,459,512 and $13,526,206, and
the remaining failures cover liabilities of $3,850,725
this year, against $10,989,822 in 1908 and $2,770,328
in 1907. Among banks and other financial institutions the three months' casualties of 1909 involved
liabilities of only $3,010,660, against $69,751,623 in
1908 and $6,985,219 in 1907.
An echo of the Lancashire (England) cotton lockout
of last year is to be found in the recently issued
annual report of the Amalgamated Association of
Operative Spinners. It will doubtless be remembered
that the lockout was precipitated by the action of the
cardroom workers in refusing to accept the edict of the
employers, to which spinners had agreed, fixing upon
the first pay-day in January 1909 as the time when
the 5% reduction in wages would go into effect. After
continuing for seven weeks, during which period some
40,000,000 spindles were idle, the difficulty was adjusted by the manufacturers making a minor concession—in fact delaying until the first pay-day
in March the enforcement of the reduction. The
annual report of the spinners' association referred to
above characterizes the stoppage as a great mistake,
and inferentially places the blame therefor, and rightly
so, upon the cardroom hands. It states that "if there
was any credit in keeping 40,000,000 spindles stopped,
spending £260,000 (over a million and a quarter of
dollars) of trade union money, and finishing up with
giving employers everything they wanted, the spinners
are prepared to allow the cardroom workers' amalgamation to take it." It is true that by the settlementithe
old rates of wages were kept in force eight weeks longer,
but for almost an identical interval there were no wages
at all and association fundswere heavily drawn upon.
In connection with the spinners' report,it is interesting to note that some progress has been made in
formulating a plan to prevent future disputes in the
cotton-manufacturing industry of Great Britain.. At
a conference held at the London Board of Trade early
in March the principle of the sliding scale, or automatic
adjustment of wages, was accepted, but no agreement
upon a basis was reached. As an amicable spirit pervaded the,conference, however, it is believed that the
employers and operatives will determine upon a satisfactory basis upon which a plan similar to that working
so well at Fall River can be built. This done, labor
disputes in what is probably Great Britain's most im, portant trade should be a thing of the past. The question of resorting to organized short time in the American section of the spinning mills of the Federation of
Master Cotton Spinners' Association was. balloted
upon March 25. Lacking a four-fifths vote, the proposition was defeated. Individual members were
therefore left to adopt their own plans for coping with
the slackness of trade. Many are working short time
now, and it is expected that others will join in the
movement before long unless the yarn market improves.
907
The Argentine Republic, in celebration of the one
hundredth annivesary of its independence, proposes
to hold next year (May 25th to Nov. 25th) an international exhibition devoted to land transport industries and accessories, in which the manufacturers anct
producers of all nations are invited to join. It is
pointed out that no one is invited as a rival, for local
industries have not been sufficiently developed, and
consequently the country is ready and anxious to
,
accept the best, which will be adopted on a large scales
without prejudice. Thus, it is inferred, a splended
market will be open to all latest improvements, and
to all fresh contributions of capital and enterprise.
The committee having in charge the arrangements for
the exhibition present facts and premises that cannot
but be of much general interest. They confidently
assert that in another generation, judging by the great
progress so far everywhere in evidence, the existing
25,000 kilometres (15,534 miles) of railway lines will be
increased to 100,000 kilometres (62,137 miles). Buenos Aires, with its 1,200,000 inhabitants, now has
1,000 kilometres (621 miles) of electric tramways.
But this total is capable of being largely multiplied
within a comparatively short time, and underground
and elevated lines are under consideration.
To refer in detail to all the facts brought out in the
committee's circular of invitation is hardly essential.
Suffice it to say, therefore, that, as presented, they
seem to point out clearly the various industries that.
would largely profit by turning attention to the Argentine Republic. In addition to railways and all accessories there would appear to be an excellent field for
motor cars and bicycles to supersede, as the committee
puts it, the mail coaches, ox wagons and beasts of
burden. It is furthermore stated that sight should
not be lost of the attention the Argentine Republic is
attracting among neighboring countries as a result
of the marked development of its production, thanks
to increased means of transportation. Under all the
circumstances, we do not think that the promoters
of the exhibition are over-sanguine in stating that its
influence will be widely felt throughout South America,
to the corresponding benefit of foreign exhibitors. The
exhibition should offer an excellent opportunity to
extend the trade of the United States with South
American countries.
Last week's bank statement reflected, in the loss of
cash, the distribution of April dividends and interest,
and in the increase in loans and deposits, apparently,
the return of the funds so distributed to the banks.
Average loans were augmented $10,920,100; actual
loans increased $9,655,400. Average cash decreased
$151,400; the actual cash loss was $5,238,500. Average deposits were augmented $10,569,800; according
to the statement of actual conditions this item was
•
expanded $3,288,500. Average reserve was reduced
$2,793,850; actual reserve fell off $6,060,625 to $10,502,550 and, computed upon the basis of deposits,
less those of $2,368,100 public funds, the surplus was
$11,094,575.
The intervention of the Easter holidays, the Stock
Exchange being closed from Thursday afternoon until
Monday of next week, caused the concentration of
business upon the earlier days of the week. There
was, however, no noticeable change in the monetary
908
[VOL. Lxxxvm.
THE CHRONICLE
situation as the result of the suspension of operations;
money on time ruled at fractionally lower rates than
those previously quoted. So far as volume was concerned there appeared to be a lighter movement
hither from the interior, which was said to be due to
the more active employment of country money incident to the season, and also to the wheat corner.
Money on call, representing bank and trust company
balances, loaned at the Stock Exchange during the
week at 2% and at 1%,averaging 1%%; all lending
0
institutions quoted 137 as the minimum. Time
loans on good mixed Stock Exchange collateral were
easy. Borrowers among commission houses are of
the opinion that call money will be abundant, at least
in the near future, and they are not disposed to
effect contracts for the shorter maturities, preferring
to rely upon day-to-day money for accommodation.
Moreover, many such borrowers are already well provided with funds which they obtained in the expectation of loaning to their customers, which expectations have not been realized. Sixty-day loans are
quoted at 2% and ninety days at 23/2%. Four
months' money is in fair request at 291%, five
to six months' at 2%@3% and over-the-year funds at
2
/
33 @39%. Commercial paper is in quite general
demand at 33/2@3%% for sixty to ninety-day endorsed bills receivable, 3@4% for choice and 4@
4% for good four to six months' single names.
The Bank of England rate of discount remains un4
1 0
changed at 2, ,5/. The cable reports discounts of
4
sixty to ninety-day bank bills in London 13 1@13,%.
The open market rate at Paris is 19/8% and at Berlin
and Frankfort it is 2@23/8%. According to our special
cable from England, the Bank of England lost £2,238,560 bullion during the week and held £39,472,530
at the close of the week. Our correspondent further
advises us that the loss was due almost wholly to shipments to the interior of Great Britain. The details of
the movement into and out of the Bank were as follows: Imports, £350,000, from miscellaneous sources;
exports, £100,000, wholly to South America, and shipments of £2,489,000 net to the interior of Great Britain.
on London, which created a condition that forbade
such a movement, at least at the moment. There
were no English steamers scheduled to sail after
Wednesday until Saturday, and, owing to this fact,
and also to the pendency of the Easter holidays, when
business would be suspended abroad and restricted
here, the market was dull and without special feature
for the remainder of the week.
Compared with Friday of last week, rates for exchange on Saturday were 5 points higher for long at
4 8620@4 8625, 15 points for short at 4 8775@4 8780
and 15 points for cables at 4 88@4 8805. On Monday
long fell 10 points to 4 8610@4 8620, short 20 points
to 4 8755@4 8765 and cables 15 points to 4 8785@
4 8795. On Tuesday long was 10 points higher at
4 8620@4 8625, short 20 points at 4 8780@4 8785
and cables 15 points at 4 88@4 8805. On Wednesday
long rose 5 points to 4 8625()4 8630, while short fell
5 points to 4 8775@4 8780; cables were unchanged.
On Thursday long was 5 pointslower at 4 8620@4 8625,
short 10 points at 4 8765@4 8775 and cables 10 points
at 4 8790@4 88. On Friday long rose 10 points while
short and cables were unchanged.
The following shows the daily posted rates for sterling
exchange by some of the leading drawers.
Fri., Mon., Tues., Wed., Thurs., Fri.,
Apr. 2. Apr. 5. Apr. 6. Apr 7. Apr. 8. Apr. 9
Brown
Bros
Kidder
& Company
Bank British
North America _ _ _
Bank of
Montreal
Canadian Bank
of Commerce
Heidelbach, Ickelheimer & Co
Lazard
Freres
Merchants' Bank
of Canada
160 days 4
1Sight_ 4
160 days 4
1Sight
„4
160 days 4
_1Sight _ _ 4
560 days 1
Sight - 4
100 days 4
1Sight_. 4
560 days 4
lSight_ 4
160 days 4
1Sight__ 4
160 days 4
;bight_ 4
86
88
86
88
86
88
86
88
86
88
86
88
86
88
86
88
86
884
86
8834
86
884
86
88
86
88
86
884
86
8834
86
88
86
8834
86
884
86
8834
86
88
86
88
86
8854
80
884
88
88
80
884
86
8834
86
8834
86
88
86
88
86
8834
86
884
86
88
8634
8834
8634
884
86
8834
86
88
86
88
8634
8834
8634
8834
88
88
8634
884
8634
8834
86
8834
86
88
86
88
864
88%
86%
8834
86
88
Rates for Exchange on Friday were 4 8625@4 8650
for long, 4 8765@4 8775 for short and 4 8790@4 88
for cables. Commercial on banks 4 85%@4 863/8 and
documents for payment 4 853/@4 86. Cotton for
payment 4 853/2@4 85%, cotton for acceptance 4 85%
@4 863/8 and grain for payment 4 86(4)4 863/8.
The following gives the week's movement of money
to and from the interior by the New York banks.
Shipped by
Net Interior
The movements in foreign exchange were exceedReceived by
Movement.
N. Y. Banks. N. Y. Banks.
Week ending April 9 1909:
ingly erratic this week. The urgent inquiry for bills
$1,908,000 Gain $2,546,000
$4,454,000
Currency
602,000 Gain 1,305,000
1,907,000
to cover short contracts, which was the feature on Gold
$2,510,000 Gain $3,851,000
$6,361,000
Friday of last week, continued on the succeeding day, Total gold and legal tenders
and, in the absence of offerings, rates sharply rose;
With the Sub-Treasury operations and gold exports
there was also a good demand for remittance by Tues- the result is as follows.
day's mail. On Monday the above-noted inquiry
Out of
Into
Net Change in
Banks.
Banks.
Bank Holdings.
Week ending April 9 1909.
for covering appeared to have been satisfied; there was
Banks Interior movement, as above_
free buying by London of securities in this market, Sub-Treas. °peens and gold exports $6,361,000 $2,510,000 Gain $3,851,000
26,300,000
24,800,000 Gain 1,600,000
influenced by exceptionally easy money and unofficial Total gold and legal tenders
$32,661,000 $27,310,000 Gain $5,351,000
discounts abroad, and sight exchange fell off about
The following table indicates the amount of bullion
20 points, closely followed by cables. In the afterthe principal European banks.
noon the tone grew firmer, but the business was small. in
April 9 1908.
April 8 1909.
On Tuesday the market rose almost as rapidly as it Banks of
Total.
Gold.
Total.
Silver.
Gold. I Silver.
had previously fallen, influenced in part by London
39,472,530 38.680,990
selling of Americans and by efforts of speculators in England_ _ 39,472,530
38,680,990
143,355,32C 3S,Wo;666 178,735,920 111,041,354 36,100,550 147,141,904
France
50,669,200 32,008,000
43.547,000
exchange to cover with cables oversold demand bills. Germany. 37,517,800 13,151,400 131,255,000 113,037,000 11,639,000 119,979,000
6,942,000
Russia _ _ 122.951.000 8,304,000
12,755,000 64,676,000 46,421,000 13,010.000
Aus.-Hun_
As has been the case recently, when exchange condi- Spain _ _ 51,921,000 32,550,000 48,436,000 15,520,00 26,202.000 59,431,000
41,722,000
15,886,000
38,067,000 4,687,000 42,754,000 36,400,000 4,480,000 40.880,000
tions seemed to be favorable for gold exports as an Italy
4,317,300 12,013,200
Nethlands 9,579.500 3,959,700 13,539,200 7,695,90
4,158,000
Nat.Belg
4,275,333
arbitration operation, the advance in the market gave Sweden _ 4,342,000 2,137,667 6,413,000 3,898,00 2,079,000 6,237,000
3,898,000
4,342,000
0
3,354,00
4,996,500 3,354,00
Switz'land 4,996.500
1,488,000
color to rumors of preparations for shipments of the Norway -- 1.520.000
1,520,000 1,488,00
586,809,350
metal to Paris; there was, however, coincidently with P8 week 473,883,083 112,925,367 590,146,030 413,702,244 104,660,850518,372,094
Total
Prev.week.478,449,35 113,696,680
415,549,36 104.597.6641520.147,032
the rise in sterling, an advance in exchange at Paris
4.
APR. 10 1909
j
THE CHRONICLE
909
which was the immediate cause for the rise in the
LOW MONEY RATES AND THEIR
Bank rate last January, will continue as it did beRESULTS.
fore that action.
financial
What is the reason for these world-wide low rates
When one takes a world-wide view of the
day is for money? The answer, we suppose, is simple.
situation, the most striking phenomenon of the
unquestionably the great cheapness of money. At Trade reaction has by no means been confined to the
New York there has been only one occasion in the past United States, and with the sudden diminution in
decade when rates have ruled as low at the opening activity of trade has come, here and in other countries,
of April as they have done this month. The private release of capital and currency from the ordinary
discount rate of 1 5-16% reported at London this channels of industry. As always happens on such
week is the lowest April quotation since 1897. To occasions, the money thus released flows into the
match the present week's PA% Paris discount rate reserves of great city institutions. This flow has been
at the same time in other years, one must go back all the more abundant because production of gold
from the world's richest mines has continued at or
more than two decades.
This great cheapness of money has had numerous beyond the maximum rate. At the opening of April
interesting results. We suppose it to be a fact that the New York Associated Banks showed $86,000,000
the low rates for money in New York, taken in con- more cash in their reserve than at the same date in
'
nection with the maintenance of dividends by a major- 1908 and $66,000,000 more than in 1907, and the
ity of important corporations whose shares are listed increase would have been even greater but for the
on the Stock Exchange, explains the great firmness recent transfer of gold for the purpose of building up
of prices and the occasional outbursts of speculation trust company reserves under the new State law.
for the rise. Abroad, the steady decline in money Taking the great European banks, it will be found that
rates has had its effect on the extremely interesting on the 1st of April their gold holdings were $305,000,experiment introduced by the Bank of England in the 000 in excess of the same date in 1908 and $421,middle of January. That the 3% Bank rate was 000,000 in excess of 1907. With this rapidly
established at that time with the purpose of holding increasing cash reserve, and the diminishing demand
money rates generally at London on a basis where for credit on the commercial and industrial margold might be attracted into the Bank of Eng- kets, it would be strange if money rates had not fallen
land reserve from other quarters, was everywhere to the low level which they have reached this
understood. The success of the experiment was month. It is an infallible symptom of an afterproved by the fact that between the middle of panic period.
It may be asked, what is to be the result of this
January and the end of March $50,000,000 gold
was added to the Bank of England reserve, which great accumulation of reserves and this increasing
is much the largest Increase made between those ease in money on the financial and industrial future?
dates in any year during more than a quarter of Taken by itself, this world-wide ease in money is
not in all respects a good sign; that is to say, it india century.
Whether, all other things being equal, the bank cates a condition of industrial relapse which does not
would or would not have preferred to maintain its anywhere indicate good times in trade. But, on the
relatively high rate of discount is a matter of conjec- other hand, it must be remembered that precisely
ture. The fact was, however, that while the bank was such a situation is the path toward the remedy of the
maintaining a 3% minimum for its own loans of over-strained situation which not so long ago existed.
money, private banks and banking houses on Lombard The prodigious strain on capital which existed toward
Street gradually reduced their rate to the neighborhood the close of 1906 had created a position of affairs
of 13'%. This meant, naturally, that the Bank of embarrassing alike to producers and consumers. Cost
England was to all intents out of the market as a of living had expanded at an oppressive rate; the cost
lender, and since the bank, in addition to its more of raw material, of labor and of capital employed in
public functions, has also the office of a joint-stock business, added so heavily to the charges upon the
corporation which must earn dividends for its share- business conducted by manufacturers, merchants,
holders, it could not well allow such a situation to traders and transportation companies that, even with
continue. Hence, we suppose, the reduction in the the high prevailing prices for their finished products
Bank rate last Thursday to 23%, which has resulted and services, it was often difficult to figure out a profit.
in a reversal of the movement of foreign excharige
In the reaction which has followed 1907 there has
sufficient to check, at least temporarily, the move- been a substantial redjustment in all of these direcment of gold into the Bank of England. Paris has tions. Raw material in particular has gone down
sent no more to London; the exports from New York decidedly in price; wages are lower throughout the bulk
have ceased; even the Transvaal arrivals of last of industry, and, not least of all, interest on money
Monday were taken by Austria—this being the first has fallen to a level where the manufacturer can make
time since the end of January when all of the South his plans with assurance of obtaining necessary funds
African gold has gone to another quarter than the at inviting rates. In the course of time we shall see
Bank of England,and the Bank's gold holdings, which the outcome of this process of readjustment. It is in
had increased substantially in each successive week the nature of building up for the new era of industrial
since the 3% rate was established in January, showed revival on a sound and stable basis, where costs and
last Thursday, after a week at the DA% rate, a profits will bear some normal relation to one another,
loss of $11,000,000 gold. Since, however, money and where, in the course of time, a vigorous upward
rates on all other markets have declined along movement, such as has always been witnessed after
with those of London, it need not be inferred that the process of readjustment was completed, will be at
the drain on the Bank of England's gold reserve, hand.
910
THE CHRONICLE
CONSTITUTIONALITY OF THE PUBLIC
SERVICE COMMISSION LAW.
While the constitutionality of the Public Service
Commission Law of this State was upheld by the
Appellate Division (First Department) of the Supreme
Court of this State last month, examination of the
text of the opinion will show that the points raised in
that action were narrow ones and that therefore the
ruling does not have the importance it would possess
if the constitutionality of the Act had been sustained
on broader grounds. The action was a taxpayer's
suit and sought to restrain the Mayor, Comptroller
and Chamberlain of the City of New York from
paying to the Public Service Commission of the First
District the moneys required to be appropriated and
paid under the law on the ground that any such
payments would be illegal. As is well known, there
are two Public Service Commissions, namely a board
of five members for each of the two Public Service
Districts created by Section 3 of the Act. The First
District covers the Greater New York, or more specifically the counties of New York, Kings, Queens
and Richmond; the Second District embraces all the
other counties of the State. In the case of both
bodies the salaries of the Commissioners, their counsel
and secretaries, are paid by the State. The State
also pays the salaries and expenses of the employees
of the up-State Commission, but the City of New York
is required to pay the expenses and salaries of the
employees of the Commission for the First District.
• This latter was one of the grounds on which the law
was attacked. It was contended that the requirement
• that the city must pay the expenses of the Commission made the Act a local one,and that accordingly
the law was in conflict with Section 16, Article 3
of the State Constitution, which provides that "no
private or local bill which may be passed by the
Legislature shall embrace more than one subject,
and that shall be expressed in the title." It was
contended that the title of the Act, reading "an Act
to establish the Public Service Commissions and
prescribing their powers and duties, and to provide
for the regulation and control of certain public service
corporations and making an appropriation therefor,"
was not a sufficient compliance with the constitutional
requirement referred to. The law was attacked on
still another ground. The Act provides that the
city authorities for the purpose of providing funds
with which to pay the expenses of the Commission
shall issue and sell revenue bonds of the city in anticipation of receipt of taxes and out of the proceeds of
such bonds shall make the payments required by the
Act. It is provided that the amount necessary to
pay the principal and interest of such bonds shall be
included in the estimates of moneys necessary to be
raised by taxation to carry on the business of the city,
and shall be made a part of the tax levy for the year
next following the year in which such appropriations
are made. It was claimed that this requirement as to
the issue of bonds offerided Section 10 of Article 8
of the Constitution which reads "Nor shall any such
county, city, town, or village be allowed to incur
any indebtedness except for county, city, town or
village purposes." The case reached the Appellate
Division pn appeal from ,an order denying an application for an injunction pendente lite. The opinion
[VOL. Lxxxvxii.
of the Appellate Court is written by Justice Clarke
and is concurred in by all the judges.
As to the point that the title of the Act does not
express its purpose, Justice Clarke cites numerous
cases to show that the purpose of Section 16, Article 3,
was that neither the members of the Legislature nor
the public should be misled by the title—not that the
latter should embody all the distinct provisions of the
bill in detail. Furthermore, that the degree of
particularity with which the title of an Act is to express
its subject is not defined in the Constitution, and rests
in the discretion of the Legislature. An abstract
of the law is not required in the title. Concerning
the constitutional requirement regarding local or
private .bills, it is declared that the Act is neither
a private nor local law. The general subject of the
Act is not local, that is, confined to a particular
municipality or particular portion of the State.
Obviously, says the opinion, it is not a private bill.
Such a bill applies only to individuals or corporations
and not to municipalities of the State. As distinguished from private, the bill in question is public; as
distinguished from local, the bill is general. It
contains no provision separate and distinct from,
and not germane to, the general subject matter. The
scheme of the Act is to create public service commissions for the regulation and control of certain
public service corporations. Every section of the
Act bears directly upon the general scheme. The
subject matter is clearly indicated in the title, and
that title is more detailed and explicit than that sustained in other cases of like character.
As to the objection that the provision for payment
of the salaries and expenses of the employees of the
Commission by the city makes the law a local act,
and that, being joined in one bill with general legislation, it hence offends the constitutional provision,
Justice Clarke shows that it has been held many times
that an Act providing for the accomplishment of some
object and at the same time providing the means
of payment therefor does not contain two subjects.
The fact that the salary of the Commissioners, their
counsel and the Secretary in the First District are
paid directly from the State treasury and the other
salaries and expenses of the employees of that Commission are paid from the city treasury does not alter
the fact, the Court says, that both are paid for by
taxation and for governmental purposes. Upon the
distribution of the burden of taxation, the localities
upon which placed, the classes of property upon which
imposed, there is no prohibitory provision in the
State Constitution. The power of taxing and the
power of apportioning taxation, or of assigning to
each individual his share of the burden, is vested exclusively in the Legislature. Furthermore, the power
of taxing and the power of apportioning taxation are
identical and inseparable.
The settled principles are that the right of determining what portion of the public burdens by way of,taxation shall be borne by any individual or, class of individuals must be determined by the Legislature, and
that, however much this power may be abused by the
Legislature, the only check upon it is the responsibility
of the legislative body to its constituents. For the
courts to undertake to review the action of the Legislature in this respect and to enforce by judicial power
absolute equality of taxation, or to declare a law un-
APE. 10 1909.)
THE CHRONICLE
constitutional on the ground that a locality is taxed
for what might seem to the court more than its just
proportion of an expenditure for a public purpose,
would be a usurpation of the province of the Legislature. In Cayuga County vs. the State (153 N. Y.,
279) it was said that, "while the power of taxation is
to be exercised for public purposes, its scope is not to
be narrowed by refinement, but it exists in unconfined
vigor, except where, by express language or necessary
implication, its exercise is restricted by the organic
law."
Justice Clarke goes further and says that no one
would suggest that the general election law was not .a
general Act, and yet the amending Act repealed
Sections 358 to 371 of the Greater New York charter
and established an entirely new board of elections for
the City of New York, with peculiar qualifications,
provided for the assumption of the powers and duties
of the former board, salaries were fixed, and all the expenses made a charge against the city, and upon
proper vouchers to be paid by the city. The educational system is a State system and supported by a
general State tax; and yet, while the schools in the
City of New York are supported by a proportion of
the State tax, the greater bulk of the expenses of
running said schools is met by local taxation in the
City of New York. So the State militia is a State institution, part of whose expenses and upkeep is met
by State taxation; but the local branch of it is additionally supplied from local taxation. So the judiciary system is a State system,and a portion of its expenses and the salaries of the judges are paid by the
State, with a local addition in certain localities. The
fact that a part of the moneys necessary to meet such
expenditures is raised, in the wisdom of the Legislature, by taxation upon a portion of the State makes
those officers none the less State or general officers,
and does not bring the expenditure within the prohibition of the Constitution.
As to the second point on which a claim of constitutional invalidity was made, namely that in providing for the issue of revenue bonds to pay the expenses of the Commission the law offends against
Section 10 of Article 8 of the Constitution, providing
that no county, city, town or village shall incur any
indebtedness except for county, city, town or village
purposes, this also is shown to rest on unsubstantial
grounds. Justice Clarke points out that there is an
express provision in the section referred to, to the
effect that the limitations therein "shall not be construed to prevent the issuing of certificates of indebtedness or revenue bonds issued in anticipation of the collection of taxes for amounts actually contained or to
be contained in the taxes for the year when such certificates or revenue bonds are issued and payable out
of such taxes."
Accordingly it is held that the statute does not
contravene the constitutional provision inasmuch
as within the meaning of the language of the Constitution no indebtedness is to be incurred. The money
is to be raised by taxation in the manner in which other
moneys are raised by taxation for other governmental
purposes, and the provision for the issuance of revenue
bonds in anticipation of the collection of taxes is expressly eliminated from such prohibition by the section of the Constitution itself under consideration.
It has beei the general policy to meet current expenses
911
by taxation; to distribute the payment for permanent
public improvements over a period of years by the
issuance of bonds of municipalities, or,as denominated
in the City of New York, corporation stock. It is the
indebtedness so created, Justice Clarke says, that the
provision is aimed at. The purposes for which the
money to pay the expenses of the Public Service Commission is to be raised and applied are precisely the
same as salaries and current expenses of all other governmental agencies and to be met in the same way
from taxation.
The foregoing are the sole grounds upon which,
in this action, the constitutionality of the Public
Service law was attacked, and of course the Court
decided nothing but the points raised in the particular
controversy before it. The larger questions connected with the extraordinary powers conferred upon
the Commission and their exercise so as to involve
the taking of property without due process of law,
and many kindred matters—the really vulnerable
parts of the statute—were not at issue and remain
undecided.
ELECTRIC RAILWAY EARNINGS IN A YEAR
OF DEPRESSION.
At the end of this article we present elaborate
compilations 'comparing the earnings of street and
electric railways for the last two calendar years.
We have been giving similar annual statements for
a number of consecutive years and especial interest
attaches to the results this time. When we began
the publication of these annual returns, the purpose
primarily was to direct attention to the growth and
magnitude of electric railway operations. On the
present occasion, the figures serve an additional
purpose,for they enable one to see what the effect of
trade depression has been upon the street and electric
railway business and to what extent, if any, the
great loss in revenue sustained by the steam railroads
of the United States has been parallelled or duplicated
on the electric railways. The tabulations, while not
absolutely complete, are sufficiently near so, to permit
reliable conclusions and deductions on this point.
To relieve the reader of all doubt, we will say at
the very outset that the results bear out the general
expectation that the street and electric railway
business suffered much less severely than that of the
steam roads from the industrial paralysis which
prevailed in such an extreme form during 1908. In
some instances evidences of depression are entirely
lacking, and the most that can be said, speaking
of the electric railways collectively, is that during 1908
there was no continuance of that further growth
which had been such a conspicuous feature in previous
years. Whether this immunity from the effects of
business depression would continue should the depression be prolonged and extend over a series of
years instead of a single period of twelve months, is
possibly open to question. Up to date, however, the
electric railways have unquestionably fared much
better than the- steam roads, as will appear further
below when we cite the figures in support of the
statement.
On the other hand, it would be a mistake to assume
that the electric railways have escaped entirely from
the depression while every other industry in the land
was feeling the blighting effects. From an exam-
912
THE CHRONICLE
ination of the detailed returns, it will be seen that
a considerable number of roads are obliged to record
decreases in earnings, and that among these not a few,
particularly in the case of the minor roads, have
been hit quite badly, suffering losses proportionately
just as heavy as the steam roads. It all seems to
depend upon locality. In most of the larger cities,
where population is dense and where there is much
accumulated wealth and where trade activity is not
exclusively dependent upon a single industry or a
single group of industries, electric railway earnings
have held up remarkably well, and in some instances
actually record expansion over the previous year.
Per the contrary, in the case of the smaller localities
where, it may be, the activities of the entire population
are bound up in some one branch or division of trade,
the throwing of the whole or the greater part of this
population into idleness has necessarily served to
restrict travel over street and electric railways and in
some minor instances there has been an approach
to utter collapse.
Obviously, the strength of the electric railways lies
in the fact that they cater to the passenger service
rather than to the freight service. Some of these
lines also do a freight business, but this is so very
small, taking the electric roads as a whole, that it
hardly cuts a figure in the general result. Past
experience teaches that the passenger service is much
slower by far to feel the effects of trade stagnation
than the freight service. The people having accustomed themselves to riding, •they do not readily
give up the habit unless sorely pinched. Of course,
where the riding is merely to and from business,
idleness as a result of depression means that some of
the passenger travel will be cut off, which is the reason
why in some of the smaller localities where the roads
are used almost exclusively to carry persons back and
forth from their work, there has been a great drop
in the revenues of the roads with the stopping of the
industries on which their tarffic depends. As far
as general traffic in the larger cities is concerned, this,
as already pointed out, does not reveal the presence
of adverse conditions in the industrial world unless
the period of trade reverses is long continued.
Perhaps another reason should be mentioned why
electric railways make a better showing at a time
of depression than the steam roads. Where such
roads are interurban in character or connect long
stretches of country, as they frequently do now-a-days,
and where the fare is cheaper over such roads than
over the steam roads, the former would be very apt
to profit at the expense of the latter. The difference
of a few cents at such a time counts for a great deal
and it is quite conceivable that a laborer, or even a
business man, with wages or profits very much reduced, might seek to save the few pennies, even if the
time consumed by the journey were somewhat longer.
Another point has operated in favor of the electric
railways. Quite a few of these are new and in the
initial stages of their development—in fact we might
say that when 1908 opened many had not yet advanced
far in their development and hence were bound to show
an increase in traffic whether business was good or
bad. Some of the roads, too, have been operating
newly opened lines or extensions.
We have sought to procure returns for the calendar
years 1908 and 1907 from practically all the street
[VoL. Lxxxvm
and electric roads in the country, and the success
attending our efforts can be judged from the tables
we give. As pointed out on previous occasions,any
compilation dealing with electric railways is necessarily made up in considerable part of street railways,
since these latter are now practically all operated with
electricity as motive-power. And yet the tables
include many other electric roads, for electric railways
connecting various suburbs have become quite common and there are also numerous electric interurban
roads of large magnitude. The task of obtaining
the figures has not been altogether easy. Where
companies furnish monthly returns, it has of course
not been difficult to make up the figures. But the
number of electric railways supplying such returns
is still exceedingly meagre, notwithstanding that with
the increase in the capital invested in these properties
the policy of secrecy in their affairs which formerly
prevailed so widely has in large measure given way
to more enlightened methods. Another obstacle in
obtaining statements for the calendar year is that the
fiscal year of the companies in a great many cases
does not correspond with the calendar year. State
boards or commissions require returns of street railways only in. the case of a few of the States; still,
where the requirement exists, the fiscal year is not, as
a rule, identical with the calendar year. In Massachusetts the annual statements cover the twelve
months ending September 30 and in New York,
Connecticut, Pennsylvania, Ohio, Maine and a few
of the minor New England States, they cover the year
ending June 30. Outside of the States mentioned very
little of an official character concerning street and electric
railways can be obtained from public documents.
Notwithstanding all this, we are able to present
a very comprehensive body of returns. In fact, our
exhibit is more nearly complete than any previous
annual statement we have given since we began
collating the figures. Altogether, we have succeeded
in getting or in making up comparative figures of
gross and net for the two calendar years for 203 roads
or systems. These show aggregate gross earnings for
the twelve months of 1908 of $280,262,681, against
$278,387,557 for the twelve months of 1907 and aggregate net earnings of $117,441,782, against $114,406,399. Two things attract attention, namely the
magnitude of the totals, the amount of the gross
approaching the 300-million mark, and the fact that
both gross and net earnings show an increase in 1908
and not a decrease. The increase is small to be sure,
being only 0.67 per cent in the case of the former and
2.65 per cent in the latter, but what is noteworthy
is that there should have been any increase at all in
such a very bad year as 1908. We may contrast this
showing with that for the steam railroads for the same
two calendar years. In our issue of March .13 we
brought together the figures for all the steam roads in
the country from which we had been able to procure
returns, comprising altogether 200,000 miles of line,
and found that gross earnings had been reduced no less
than $301,749,724, or almost 12 per cent, and net
earnings $53,371,196, or over 7 per cent. Compared
with this great shrinkage in revenues on the steam
roads, the showing for the electric roads, revealing
a small gain, is certainly very striking.
Nevertheless, it is not well to predicate too much
on these grand aggregates for the electric railways.
APR. 10 1909.1
THE CHRONICLE
913
The detailed statement makes it plain, as already the investigation a step further, we have thought it
stated, that many of the separate road have fallen best, as in previous years, to furnish an indication of
behind in their earnings, some of them in quite a what the totals would amount to if we took into acnotable fashion. The remark applies particularly count the roads whose figures are available for other
to the smaller roads, but some large systems have periods, and particularly for the fiscal years ending
'also shared in the decline. In some special cases, on June 30 and Sept. 30. In the summary we now
circumstances outside of trade depression are in good furnish we start with the total of gross and net for the
part responsible for the decline. For instance, the calendar years 1908 and 1907, as given in our detailed
Brooklyn Rapid Transit Co. may be supposed to have summary, and then add two other lines of figures,
lost considerable traffic as a result of the opening one recording the earnings of all the roads for which
of the Interborough Rapid Transit extension into we have returns for the twelve months ending June 30,
Brooklyn. Its loss, at all events, is more than made and the other the earnings of all the roads for which
good by the large gain for the twelve months reported we have the figures for the twelve months ending
by the Interborough Company. The Norfolk & Sept. 30. The three combined make a very comprehensive aggregate.
Portsmouth Traction Co. suffered a decrease because
GT033
Net
1907.
1908.
1907.
comparison is with the period of the Jamestown For calendar year as be- 1908.
low (203 roads)
Exposition the previous year. If comparison were For years ending Sept.30280,262,681 278,387,557 117,441,782 114,406,399
(70 roads)
made with 1906 there would be a gain instead of a For years ending June 30 8,570,395 8,355,435 2,750,079 2,710,673
62,569,088 61,394,248 22,070,558 24,027,141
loss. The large contraction in revenues of the (108 roads)
Grand total (381 rds) _351.402,164 348,137,240 142,262,417 141,144,213
(0.94%) 3,264,924
Philadelphia Company, controlling the street railway Increase
(0.79%) 1,118,204
The general result here is not changed. There is
lines in and around Pittsburgh, may be taken to
reflect the tremendous setback experienced by in- still a small gain in both gross and net-0.94% in
dustrial interests in Pittsburgh; but it should be the former and 0.79% in the latter—only that we are
understood that here only a part of the decrease can be dealing with much larger totals. From these totals
ascribed to a falling off in the railway business. The the reader will get some idea of the magnitude to which
totals include the revenue from sales of gas, in the the electric railway industry has risen. The total of
consumption of which there must have been tre- the gross earnings (comprising 381 roads) for 1908 is
mendous shrinkage on account of the idleness of so $351,402,164 and for 1907 $348,137,240,and aggregate
net earnings are $142,262,417, against $141,144,213.
many furnaces, plants and facatories.
To guard against misleading the reader, we wish to
On the other hand, we find gains reported among
reiterate what we have said in previous annual rethe larger systems by the Boston Elevated and the
Massachusetts Electric Companies, the Chicago City views of the earnings of these electric railways, namely
Railway Co. and the Chicago Railways Co., the that this is not an attempt to indicate the aggregate
Denver & Northwestern (operating the Denver lines), of the gross and net earnings of all the street and electric railway undertakings in the United States. It is
the Detroit United, the Galveston-Houston Electric,
simply making use of all the figures that have been
the Georgia Railway Electric, the Illinois Traction Co.,
placed at our disposal,or which are available. Large
the Louisville Ry., the Memphis Street Ry., the
though the totals in our final summary are, they fall
Milwaukee Companies,the Nashville Railway & Light, considerably short of recording the entire
earnings of
the Public Service Ry. of New Jersey, the Seattle Elec- electric railways in the United States.
The minor
tric, the Twin City Rapid Transit, the Washington Ry. roads not represented would not swell the amount to
& Electric, and many others. On the whole, these any great extent, but it happens that some large comgeneral and widespread gains support the conclusion panies are also missing because no data concerning
that the traffic of the electric railways, for the reasons their income could be obtained. Among these may
already given, possess relatively much greater stability be mentioned the Cleveland Electric Ry., the Ohio
than that of the steam roads.
Electric Ry.,thelPacificiElectric Ry. of California, the
In addition to the roads which have furnished re- Los AngeleslInterurban Ry., United Rys. of Baltimore,
turns of both gross and net earnings, 29 other roads the Omaha & Council Bluffs Street Ry., the Virginia
have favored us with comparative figures of gross Passenger & Power Co. and the Wheeling Traction Co.
but not with their net earnings. Adding these on, In addition, some other companies are not represented
the number of roads is increased to 232 and the total in our totals of gross and net because only figures of
of the gross raised to $325,409,963 in 1908 and to gross could be obtained. This refers to roads like the
$321,712,120 in 1907. The fact of an increase still Cincinnati Traction, the United Railroads of San Franremains, and the ratio of gain is found to be a trifle cisco, the Los Angeles Ry., the Spokane & Inland Embetter than in the case of the roads reporting both pire, the American Railways Co., &c.
gross and net. The percentage of addition in this inOf course many of the electric railways furnish elecstance is 1.15%. The improvement follows in part tricity for lighting and power purposes, besides being
from the gain of nearly 50% in the earnings of the engaged in railway business, and the earnings from
United Railroads of San Francisco, which in the pre- that source form part of their total income. On the
vious year,on account of the chaotic condition of things other hand, in a number of cases the earnings from
prevailing at that time in San Francisco, had suffered lighting and other sources have been separated from
a heavy decrease. The earnings of the Philadelphia the street railway income, and the latter alone is inRapid Transit lines record a good amount of decrease, cluded in our table. This is true, for instance, of the
though this latter was not very heavy in ratio, being Utah Light & Power Co and the Easton Consolidated
only a little over 3%.
Electric Co.
The totals given all relate, as already stated, to roads
The following is the detailed statement already rewhich have favored us with statements for the calendar ferred to, which shows separately the comparative
year or whose figures we have been able to make up figures for each road contributing returns for the last
for that period of twelve months. In order to carry two calendar years.
ELECTRIC RAILWAY GROSS AND NET EARNINGS FOR CALENDAR
YEAR.
Gross
Roads.
1908.
1907.
1908.
Gross
Net.
Roads.
1908.
1907.
1908.
1907..
$
31,016
North III Lt & Trao Co_813,306
Nor Ohio Trac ee Lt Co__
1907.
465.881
Northern Tex Elec Co_ b_
1,382,889
Oakland Traction Co_b_
19,511
Elec By & P Co
49,155 Ohio Riv City By Co_b
96,834
Oklahoma
72,375 Ottumwa By ec Lt Co_a_
90,121
28,124 Paducah Trac & Lt Co_b
84,622
52,843 Pascagoula St Ry&PCo a
36,876
64,319 Peekskill Ll'ht & RR Coa
76,949
45,510 Pensacola Electric Co_b_
82,493
166,463 Penn & Ohio By Co_a_-60,475
148,338 Petal ec San Rosa By Co
60,707
642,732 Phila & West Chester By
n99,592
699,520 Philadelphia Co (includ'g
16,583
affiliated corp'ns)_a-- 16,583,426 19,091.423 7,047,285 7,273,485
4,308,733 Plattsburg Traction Co b
26,186
9,248
25,786
10,737
24,241 Portl'd(Ore) By Lt&PCo 4,351,676 4,050,145 2,229,100 1,772,825
37,259 Prov & Danielson Ry___
92.061
91,024
10,984
6,120
4,262,214
Public Service By (N J)- 10,989,970 10.468,899 4,780,551
5,734,845 Pueblo & Sub Tr & Lt Co
601,795
608,642
271,189
283,943
1,694,973 1.664,281
636,387
598,226
Puget Sound Flee Ry_b_
281.182
272,731
77,342
71.100
Roch & East Rap By-b620,249 Rochester By Co_b
899,158
955,830
2,449,280 2,383,182
972,741 Roch & Suburban Ry-b54,829
25,020
12,627
60,049
8,156 Roch Syracuse & East_b
3276,795
3206,596
3410,673
3129,454
15,011
591,396
252,331
264,333
567,466
Rockf'rd & Interurb Ryb
8,190 Rutland Ry Lt & P Co_b
117,017
247,705
107,031
250,503
29,441
454,058
870,286
428,018
909,965
St Jos Ry Lt H & P Co
455,393
def19,288 San Fran Oak&San J Ry
'
812,868
386,818
901,110
206,989
883,027 Savannah Electric Co-b602,399
218,682
595,819
278,316
238,901
880,440 1,068,741
Schenectady Ry Co-b__ _
64,002
0104,008
94,990
361,006
348,903
Schuylkill Val Tr Cob_
1,850,237
1,698,321
50,441
4,520,489 4,119,725
Seattle Electric Co_b
62,146
149,391
51,352
131,342
143,882
So Col Power & By Co_ 68,214
69,486
1,412 Southern Wis Ry-a
153.703
156,157
645,447
670,624
0260,579 South Side Elev RR_a
2,241,690 2,105,193
283,727
212,851
184,189 Southwest Mo RR_a
560,062
461,630
13,218
13,295
02,268,808 3pringf (Vt) Elec By-b44,283
41,195
450,828
d3,168,172 3pringf (Ill) By & Lt CO3_
450,840
863,728
893,342
8,731
12,545
255,728
64,040
66,687
3pringlield & Xenla
119,085
115,785
74,852
213,547
213,629
Stark Electric Rit_b
86,856
64,959
152,542
169,950
Syr Lake Sh & NorRR b
144,542
73,149
184,665
521,181
552,574
Electric Co_b
49,852 Pampa
3436,699
3364,350
Per H Ind & East Ti' Con 32,328.846 32,201,879
41,125
43,152
46,807
79,989
92,243
Col Fast & Find Ry_b
1,022,867
139,121
2,565,200 1,068,731
2,542,111
Coledo Rys & Light_a145,629
316,864
160,344
310.344
342,067
ropeka Railway Co
9,963
52,000
21,150
56,689
59,637
Crenton & New Brun RR
202,555
234,772
238,847
528,325
528,563
Prenton Street By Co_b_
167,401
649,964
749,761
1,782,356
1,819,077
Cri-City By & Lt Co--- 30,684
7,101
6,1.96
32,811
33,348
Croy & New EnglandRyb
1,102,640
NvInCIty Rap Tr(Minn)b 6,399,509 6,055,742 3,233,454 3,075,307
79,527
Jnited Rys Co of St La _ 10,410,717 10,659,037 4,383,563 4,325,037
751,746
722,044
1,956,926 2,015,369
Jnited Tr Co (Albany) b
15,370
240,456
250,177
874,116
830,176
Jnited Tr Co (Reading) b
28,025
9164,756
9275,656
9911,636
91,005,314
Jtah Light & Ry Co_b
364,930
413,012
429,473
1,089,343 1,120,413
& Mohawk V Ry b
Jtica
78,495
83,433
84,992
247,525
246,694
Traction Co_b
27,770 'alley
21,142
21,327
55,023
61,164
TIncennes Trac & Lt Co_
39,551
83,949
35,678
Jamest St Ry-a_
84,348
ffarr &
1,538,813
146,207
325,969
145,660
344,371
Wash Alex&Mt Ver Ry a
219,509
1,636,996
1,864,402
3,720,573 3,385,749
Wash By & Elec Co_b
2,668,707
831,672
2,094,282 1,111,353
2,464,118
Wash Water Power Co
458,982
138,573
466,903
1,002,595
1,094,569
Western Rys & Lt Co_a408,693
691,874
1,603,100
761,333
1,551,138
Penn Bys Co-a
Vest
r77,727
129,471
193,520
281.832
340,352
Vest N Y ec Penn 'Tr-b_
1,029,548
203,807
195,620
444,846
441,791
Western Ohio Ry_b
136,574
155,094
155,493
354,469
362,252
Co Ry&LtCo b
Vhatcom
m10,121
Viikes-Barre Dallas &
137,191
13,316
14,321
61,810
62,627
Harvey's Light By-b_
321,316
198,535
325,083
976,437
V-B & Wyo Val Tr Co_ b 1,015,547
054,777
56,990
064,046
0229,202
g200,587
Vins-Salem By&ElCo a_
102,117
114,729
205,311
246,45_
265,290
Vise Trac Lt H & Pow
166,795
---•
35,000
280,262,681 278,387,557 117,441.782 114,406,399
Total (203 roads)
(2.65%)
14,129
(0.67%)
'or cent of increase
125,039
537,748
deducting taxes. b Bef3re de noting taxes.
a After
30,093
and 1907. d Figure&
c Figures cover 11 months ending Dec. 31 1908 twelve days of Jan.
433,947
last
1,646,059 cover years ending Jan. 31 1909 and 1908, with
e Fig res cover ye rs ending Feb. 28 )009 and Feb. 29
114,786 1909 estimated.
d reconstruction expenses.
488,468 1908. 1 After deducting Interest, dividen.ls, a1907. la The large decrease
Figures cover years ending Nov. 30 1908 and
88,471
due to fact that 1907 earnings
32,074 in nos earnings as compared with 1907 is Exposition. i Figures cover
99,398 were abnormally large because of Jamestown
year ended Dec. 31
years ending Oct. 31 1908 and 1907. 3 Figures coverFigures for 1908 are
k
27,427 1908 as compared with year ended April 1 1908.
figures. 11908 figures
based on a considerably larger mileage than 1907
150,042
for calendar year. m Com103,601 cover year ended Nov. 1 1908; 1907 figures are n 1908 figures are for year
16,957 parison is with year ending June 30 1907. en ing June 30 1907. o nos
Nov. 30 1908; 1907 figures are for year
182,336 ending
figures are for calendar year.
1,650,699 figures are for year ending Oct. 31 1908; 1907 1008 and 1907. q Earnings
978,034 p Figures cover 11 months ending Nov. 30represent earnings of Easton
railroad department only. r Figures
107,550 cover
14,265,268' Transit Co.. the operating company.
2,017,554
ROADS REPORTING GROSS ONLY.
70,391
161,203
Increase. Decrease.
1907.
Roads.
1908.
92,834
2,888,828
44,274
31,283 Gross earnings reported above 280,262,681 278,387,557 1,875,124
(203 roads)
282,323
02,940,673
142.577
Railways Co
92,767 American Temple Traction_ _ _ 02,798,096
2,734
44,985
42,251
Belton &
232,944
172,790
19,440
192,239
Har-St Jos Ry & Lt Co_
Bent
25,892 Cincinnati Traction Co
21,947
4,450,225
4,428,278
416.602
15,905
340,584
RR
324,679
32,631 City & Elm Grove
244,360
14,812
259,172
Ohio Traction Co_
273
9400,277 EasternWater Lt & RR Co
0240,988
0240.715
Elmira
10,541
6,875
45,607
Vernon El Ry_ _
52,482
p185,899 Evansv & Mt. ec Ocean RR_ _
64,316
153,191
Park
217,507
132,892 Geary St
13,443
62,467
75,910
Street By
311,841 Great Falls Electric Co
3,913
150,000
b153,913
67,261 GreensboroTran Co
885
82,333
83,218
Humboldt
900,198 Indianapolis & Cinc Trac Co_
3,660
182,777
179,117
46,640 Indianapolis & Southern Trac
734
199,621
200,355
161,090
10,390
2,683,826
Trac &
2,673,436
750,804 Indianapolis By Ter
2,224
132,849
135,073
2,773 Iowa & Ill nois Lt Co
3,402
68,827
65,425
15,503 Jackson By & & Aurora RR
21,387
80,109
101,498
Joliet Plainfield
2,731,458
325
3,558,936
3,558,611
Los Angeles Railway
23,746
51,016
614.744
563,728
597,233 Mobile Light & RR CoCo.._ _ _
872
39,526
38,854
Montgomery Traction
78,795
1,755,038 200,979
1,956,014
1,441,909 Northwestern Elevated
83,008
410,740
Elec By Co
493,748
428,830 Ohio Valley
1,337
98,001
99,338
Phila & Easton Electric RR_
7
622,217
Rapid Transit
17,975,262 18,597,479
1,031,944 Philadelphia
7,725
92,695
100,420
Co
466,690 Rome (Ga) By & Lt Co
12,000
140,000
128,000
Shreveport Traction
20,914
996,079 147,563
1,143,642
8,356 Spokane & Inland Empire By 6,866,303 4,745,116 2,121,187
United RRs of San Francisco
47,104
609,102
325,409,983 321,712,120 4,584,961 887,118
Total (232 roads)
153,758
3,697,843
204,522 Net increase (1.15%)
2,770,904
year
0209,664
a These figures are for companies controlled. b Figures cover 1907
/1960,804 ending Nov. 30 1908 as compared with figures covering calendar year
58,223 c Earnings include railroad department only.
Net.
$
$
146,39
131,207
38,888
Anniston Elec & Gas Co a
270,164
265,212
55,934
Asheville Electrio Co_ __ _
72,18
58,737
20,336
Ashtabula Rap Tran Co_
182,202
188,108
51,451
Atch By Lt Fe Pow Co_a
110,447
128,423
72,273
Athens Electric By
138,523
112,821
29,072
Atlanta Northern By Co_
305,465
343,056
178,711
Atlantic Coast Elec RY
389,732
370.464
152,976
Auburn & Syr Flee Rit_b
1,398,930 1,415,99
636,954
Aurora Elgin & Chic RR_
733,696
Birm By Lt & Pow Co_a 2,167,546 2,220,999
95,567
89,946
22,895
Blue Hill Street Ry_b
14,198,998 14,079,284
5,107,193
Boston Elevated Ry_b
70,142
74,359
29,781
Bristol Gas & Flee Co_
122,266
119,365
33,825
Brock & Plym St Ry_bBrklyn Hgts RR Co_b_
13,850,178 14,550,116 4,762,185
Brklyn Un Eiev RR b
Co b •
South Brklyn By
Sea Beach By Co-b..1,661,640
1,610,50i
rklyn Q Co&S RR_b
596,972
1,075,540
3,458,160 3,256,416
Nassau Elec RR Co_ b_
49,812
53,012
8,440
0 I & Graves'd BY-b63,206
62,134
8,732
Buffalo Southern Ry
10,479
55,045
56,307
Burlington County By
46,420
156,723
170,049
ci,mden & Trenton By_
21,376
20,031
def17,000
peMDB &SPtRy
968,004
1,764,345
1,831,811
Capital Trac Co (Wash) a
Cod Rap-Iowa City By
0115,748
0288,776
0307,874
& Light Co_a
53,285
170,904
185,029
ged Rap & Mar City By
151,356
439,619
708,294
Central Penn Trac Co__ _
def5,241
42,761
39,290
am & Gettys Flee Ry_
0266,815
0727,661
0756,327
arl Con By G &El Co_b
192,822
536,861
524,982
Chattanooga Rys Co_ - - 07,817,979 07,562,694 02,345,394
Chicago City By Co_a
d10,994,807(110,560,572 d3,298,442
Chicago Itys Co
238,041
603,749
612,093
Chic So B & N Ind RR-b
80,021
160,410
156,069
Chip Val By L&P Co-aCitizens' By & Lt (Ft
59,844
258,581
246,664
Worth) a
54,330
140,982
140,871
Choctaw By & Ltg Co_b37,926
122,363
123,139
Cleve Painesv & Ash RR
128,514
296,318
295,812
Cleve Painesv&E'n RR a
274,135
756,898
775,737
Cleve Southw & Col ay_
61,000
122,000
128,000
Clinton Street By
209,610
410,254
428,818
Col Flee St By L&P Co-a
179,751
840,574
358,497
Columbus (Ga) Eleo Co_ b
59,499
17,374
39,747
aol New Alb & Johns Tr a
2,256,519 1,115,141
2,300,746
Columbus(0) By & Lt Co
98,984
236,092
261,325
Consol By Lt & P (Wit)
Corning & Painted Post
65,915
17,110
49,908
St By Co_b
20,683
74,348
74,189
Cortland County Tr Co_b
389.313
1,169,967 1,125,673
Dallas Electric Corp _ b- 73,181
229,653
218,528
ElecRy b
Dayton ec Troy
27,637
109,508
108,234
Del Co & Phlia El Ry_bDenver & N W Ry and
1,637,325
3,152,567 2,913,651
controlled co's_b
779,059
318,548
906,747
Des Moines City By Co_b
7,114,760 7,073,246 2,620,594
Detroit United Ry Co-a/71,734
/34,902
168,584
Du Bois Elec & Trac Co846,084
340,858
890,296
Duluth Street Ry_b
r350,168
/13,713
r330,231
Flee Co-a
Easton Cons
2,157,443
947,205
2,009,514
E St Louis & Sub Co
506,694
149,584
534,222
El Paso Electric Co_b
m82,943
23,572
86,780
Erie Traction
364,094
138,036
372,993
Evans & So Ind Trac_b350,189
182,344
361,041
Everett By Lt & W Co_b
118,508
55,599
126,036
Evans Sub & New By-b
389,972
416,881
254,649
Kairm & Clarks Trao_a_
175,862
1133,823
1145,543
Park Tran Co
Fairmount
85,000
45,000
95,000
Fargo & Mooreled St BY
49,928
13,133
48,790
Vishkill Electric Ry_b
309,842
335,513
140,956
Smith Lt & Trac Co
Ft
1,283,722
585.586
1,322,635
t W & Wab Val Tr Co
81,833
25,532
80,863
reeport By L & P Co _a
460,474
1,088,447 1,050,893
Galv-Hous Elee Co_b
3,309.341 1,689,027
3,339,021
Georgia By & Elec Co
258,566
121,634
262,342
Cr R Gr H & Musk Ry_b
044,916
469,660
940,645
Grand Rapids By Co_ -- 193,744
87,155
205,978
Gray's Har Ry&Lt Co_a48,558
143,052
148,538
Green Bay Traction Co
96,413
267,774
270,674
Helena Light & fly Co
Holmesburg Tacony &
115,970
$4,905
118,702
Frankford Elec Ry_b165,587
450,367
446,652
Holyoke Street Ry_b
249,919
117,331
265,570
Houghton Co Trac_ b
92,61
22,263
95,488
Hudson Riv Trac Co_a_
832,337
106,165
573,984
Hudson Val By Co_b
3,779,187 1,744,497
4,098,621
Traction Co_a
Illinois
843.585
1,902,330 2,089,233
Ind Union Trac Co_b
265,883
132,345
344,693
Indianan Col & So TrCo a
(NY)_b 24,718,462 23,513,171 15,151,726
Interbor R T Co
5.159,605 5,380,437 1,931,123
Internat Trac (Buff)-b
220,10
71,717
211,326
Interurb Ry Co (Des M) b
176,895
392,394
430,838
Jacksonville Elec Co_b180,790
105,320
228,707
Joplin & Pittsb Ry_a
6,030,895 2,783,741
Kan City By & Lt Co_b- 6,274,591
57,035
140,522
137,617
Kingston Consol RR b
27,538
57,029
55,486
Klttan & Leech Rys Co b
605,777
279,487
572,271
10ioxville By & Lt Co a_
100,772
188,177
199,175
Kokomo Mar & W Tr Co a
231,450
504,412
542.50
Lack & Wyom Val Trac_
35,498
55,383
55,366
Nap By b
L E Bowl Gr &
401,295
913,161
867,269
Lake Shore Flee Ry_a
32,560
112312
103,131
Lebanon Valley St By_b
0477,386
Lehigh Val Transit Co a_ 91,038,626 01,031,561
8,808
28,151
Lewisb'g Mil & W Pass_28,546
P197,747
p516,35
p566,418
Lexington & Inter Bys/78,668
408,21
423,515
.
Lincoln Traction Co_ __
331,663
042,011
670,897
Little Rock By & El Co_
52,807
177,80
143.381
Lorain Street RR Co_ __
2,608,140 1,033,552
Louisville Railway Co_,. 2,758,555
53,510
123,694
143,660
Louisv & Eastern BR_a
159,633
355,387
358,018
Macon By & Light Cob..
588,753
1,900,663
1,747,92
Mahon & Shen Ity & Lt a
19,810
50,52
68,768
Manistee Lt & Trac Con
25,239
56,651
63,259
Mason City ea Cl Lake Ry
7,826,518 2,823,409
Massachusetts Elec Cos Is 7,804,48 I
22,345
48,482
46,26
Meadv & Cam Sp St Ry_
592,996
1,627,648 1,604,38
Memphis Street Rya_ __
66,803
208,278
200,643
Meridian Lt & By Co-b_
1,346,165
2,746,840 2,878,58
Met W S Elev (Chic)_b_
444,376
930,95$
988,35
Mich United Rys_b____
def4,314
37,187
_
Millville Traction Co_ _34,56
3,823,382 2,007,300
3,898,53
Milw Flee Ry & Lt Co:
481,655
826,131
862.72
Mllw Lt Heat & Tr Co_
24,733
81,92
85,98
Monmouth Co Elec Co__
8,24
21,18
Pass By Co_ _
21,93
Mantoursv
50,34
142,29
151.64
Msscatine Lt & Trac Co,
642,73.
1,578,20
1,597,033
NItshville By & Lt Co_a_
150,29
658,211
667,827
New Hampshire El Rys Et
258,741
482,808
538,66
Ng ec Hud R By & F Coa
6,041,301 2,642,028
New Or! By ,S3 Lt Co_b_ 6.009,44
0163,669
0436,41
0368,661
Nom N do 0 Pt Ry&E1 a
5773,584
N6rfolk & Portsm Tr Co_ 51,877,93 52,616,45
48,627
176,609
174,251
Nehharapion_Street By_
[Vol, Lxxxviii.
THE CHRONICLE
914
$
74,292
1,890,473
1,080,577
2,801,787
57,210
286,041
221,211
226,613
109,045
170,353
209,182
112,664
192,637
n286,441
$
66,420
1,909,061
1,060,953
2,789,685
58,122
257,602
197,998
237,513
116,049
169,658
228,149
122,742
216,642
3259,248
$
36,171
804,099
450,525
1,478,979
19,132
76,803
100,173
93,220
36,032
78,060
64,311
49,738
40,010
n130,479
[RAILROAD GROSS EARNINGS FOR MARCH.
As far as concerns ratio and amount of gain, our preliminary statement of railroad gross earnings for
March makes a better showing than any early monthly
compilation we have presented thus far in 1909.
This obviously is very encouraging as far as it goes.
Lest, however, undue significance be attached to the
mere circumstance of larger gains, it is important to
bear in mind that the present year's improvement
must be expected to have more or less relation to the
losses in the corresponding months last year. Through
nearly the whole of the first half of 1908 the returns
kept growing steadily worse each month until culmination was reached in the colossal shrinkages in
earnings recorded in May and June. It seems only
natural therefore that as last year the losses kept
growing, so this year the gains should likewise keep
expanding, for with each succeeding month comparison will be with poorer results. Nor will the fact
that the increases are growing be any indication that
there is complete recovery of what was lost last year
and that earnings have got back to the basis of the
active times of 1907. Unfortunately such a happy
state of things does not yet seem in prospect. As
compared with the extreme and extraordinary depression reached at this time in 1908, there is much
improvement; but the normal status has by no means
been restored.
Our compilations embrace only the roads furnishing
early estimates of their revenues, and as less than
ten days have elapsed since the close of the month,it
has not been possible this time to get quite all of these.
The 48 roads contributing returns, however, comprise
an aggregate of 77,656 miles of line, or fully one-third
the railroad mileage of the country, and on these the
increase as compared with the corresponding period
last year reaches $5,082,356, or 10.99%. As showing
that the improvement in 1909 falls far short of equaling
the shrinkage of last year, we may note that our early
statement for March 1908, comprising 83,468 miles
of road, showed a decrease aggregating no less than
$9,150,668, or 14.36%. Of course prior to 1908 the
record for March had been one of almost continuous
gains. The following shows the comparative totals
for each year back to 1897.
Gross Earnings.
Mileage.
Year Yr.pre- InGiven, ceding. cr'se.
March. Roads
.897 ____ 121
.898 ____ 133
,899 --- 119
,900 ---- 112
,901 --- 103
902_. 89
903 ---- 69
904 -- 69
905 ---- 02
906 ---- 58
907_- 66
908_- 55
909-- 48
an. 1 to Mch.
897 ____ 120
898 -- 131
899 -_ 118
000__... 111
901 ....... 103
902 --_- 89
903 __ 69
904 ____ 09
905 ____ 02
906 --- 58
901_... 66
908 ___ 55
909 ____ 48
Miles.
92,737
07,253
94,333
99,388
100,739
92,041
95,620
85,636
80,134
83,228
92,828
83,468
77.656
Miles.
92,048
96,089
93,235
97,468
97,542
90,481
93,441
83,386
78,881
81,448
91,100
82,332
70,193
31.
92,598 91,907
96,998 95,832
93,875 92,777
99,115 97,195
100,739 .97,542
92,041 90,481
95,020 93,441
85,606 83,386
80,134 78,841
83,228 81,443
92,828 91,100
83,438 82,332
77,056 76,193
%
0.75
1,21
1.18
1.97
3.28
1.72
2.33
2.68
1.59
2.18
1.90
1.38
1.92
Year
Given.
Year
Preceding.
$
36.730.150
44,918,276
45,851,636
54,220,229
58,451,929
53,947,913
03,656,495
54,218,287
56,099,462
60,824,758
77,540,501
54,549,532
51,321,597
II
30.574.594
38,767,463
43,192,673
48,306,240
54,154,932
50,750,057
55,634,679
54,355,422
50,899,522
55,489,877
71,896,303
63,700,200
46,239,241
Increase (-I-)
or
Decrease (-).
$
%
+155,556 0.42
+6,150,813 15.87
+2.658.903 6.15
+5,919,989 12.25
+4,296,997 7.93
+3,197,856 6.30
+8,021,817 14.42
-137,135 0.25
+5,199,940 10.21
+5,334,881 9.61
+5,644,198 7.85
-9,150,068 14.36
+5,082,356 10.99
0.75 104,287,357 107,550,519 -3,263,162 3.03
1.21 126,755,310 109,339,374 +17,415,936 15.93
1.18 126,102,007 121,187,638 +4,914,369 4.05
1.97 154,477,543 132,538,843 +21,938,700 16.55
3.28 167,574,617 154,125,356 +13,449,261 8.72
1.72 155,556,409 146,020,060 +9,536,349 6.52
2.33 181,463,231 160,459,158 +21,004,073 13.09
2.68 152,071,336 153,791,510 -1,720,174 1.12
1.59 149,372,126 142,415,455 +6,956,671 4.88
2.18 183,844,696 154,918,113 +28,726,583 18.54
1.90 214,200,964 204,957,203 +9,243,761 4.51
1.38 143,515,630 168,200,991 -18,694 361 11.11
1.92 142,902,711 131,609,385 +11,293,326 8.66
Note.
-We do not include Mexican roads in any of the years.
The leading influences and conditions bearing on
traffic and earnings were generally favorable, but not
altogether so. In industrial affairs trade was better
915
THE CHRONICLE
APR. 10 1909.1
than a year ago, but not equal to that of two years ago.
In fact, returns of earnings reflect accurately the trade
situation in this respect-that is, in showing recovery
from the extreme depression of 1908, while failing to
record a return to the normal condition of previous
years. In the matter of the leading staples, both the
grain movement in the West and the cotton movement
in the South were somewhat heavier than the corresponding movements last year. This, however, applies only to the totals as a whole. On special roads
and in special localities there were some noteworthy
exceptions to the rule. The high grain prices prevailing would be expected to stimulate deliveries of grain,
and so they did; but the gain has inured chiefly to
Chicago and to the roads running to that point, where
manipulation of prices has been carried on with especial energy.
The wheat receipts at the Western primary markets
for the four weeks ending March 27 1909 were 12,779,705 bushels, as against 12,698,378 bushels in the
corresponding four weeks last year, showing very little
difference between the two years in the result as a
whole, but Minneapolis had deliveries of only 5,517,810
bushels, against 7,145,330 bushels, and the other
interior markets also show losses, excepting Chicago
and Duluth, which have striking gains, and excepting
also Kansas City, which has a trifling increase. The
corn deliveries ran very much heavier than a year ago;
nevertheless at Peoria there was a considerable falling
off. Receipts of oats fell off nearly everywhere.
Altogether the result is that while the grain movement
as a whole (wheat, corn, oats, barley and rye combined) for the four weeks ran a little heavier than a
year ago, the aggregates being 49,713,070 bushels,
against 49,371,571 bushels, at points like Peoria and
Minneapolis, there was a notable shrinkage in the
grain receipts. The following gives full details of the
grain movement in our usual form:
Four weeks ending March 27.
Chicago
1909
1908
Milwaukee
1909
1908
St. Louis
1909
1908
Toledo
1909
1908
Detroit
1009
1908
Cleveland
1901)
1908
Peoria
1909
1908
Duluth
1909
1908
Minneapolis
1909
1908
Kansas City
1909
1908
WESTERN GRAIN RECEIPTS.
Wheat
Corn
Oats
Flour
(bush.)
(bush.)
(bush.)
(bids.)
Barley
(bush.)
(busts.)
719,796 1,815,948 9,067,250 7,377,390 3,512,000
658,666 6,978,119 10,680,222 1,580,900
824,016
115,000
151,200
910,300
764,800
363,000 1,028,800
737,500
976,800
119,000
95,400
234,945 1,088,576 2,366,245 1,590,000
188,100 1,122,712 2,423,510 2,820,400
468,900
199,695
38,450
53,368
316,425
196,925
497,200
718,000
RtIV
13,200
6,000
110,000
160,000
346,500
419.600
145,500
228,000
14,200
13,300
55,320
102,460
247,358
255,818
114,000
87,200
4,451
4,272
9,110
119,825
489.790
435,044
563,2611
321,109
77,430
9,790
621,000
61,305 1,368,421
75,000 1,688,300 1,027,500
419,000
120,000
47,000
39,000
34,666
479.289
37.446
5,1309
16,178
5,517,810
7,145,330
489,576 1,080,250 1,519,280
329.820 1,750,550
585,020
149,380
121.850
1,580,250
1,554,550
935,000
963,600
172,000
100,500
85,500 2,044,186
37.000 1,041,835
266,831
500,904
464,000
379,050
Total of all
1,547,317 12,779,705 16.255,096 12,987,031
1909
1,364,113 12,698,378 13.856,811 18,823,135
1908
Jan. 1 to March 27.
Chita/o7
2,030,157 2,845,248 25,300,071 19,133,366
1900
2,430,537 2,299,947 25,760,190 23,315,897
1908
Milwaukee
728,728 1,044,800 2,262,000 2,227,600
1909
579,275 1,716,000 1,112,000 2,389,200
1908
St. Louis
660,415 3,062,380 6,537,290 4,482,825
1909
581,140 3,175,299 7,141,310 6,872,800
1908
Toledo
356,300
916,400
283,900
1909
579,000
373,300 1,951,300
1908
Detroit
707,708
414,842
233,975
42,700
1909
395,300
366,831 1,104,765
42,700
1908
Cleveland
54,820 1,276,520 1,380,570
12,823
1000
230,902 2,475,699 1,089,244
11,679
1908
Peoria197,305 4,305,814 1,670,500
387,978
1009
393,900 5,402,100 2,829,000
271,950
1908
Duluth
294,617
680,570
94,545 3,633,407
1009
1,043 1,267,957
37.000 4,628,264
1008
7,203,399
3,509,651
487,839
482,006
8,725,693
5,056,185
383.000
497,371
2,809,100
3,334,800
314,900
328,200
1,229,800
705,395
81,450
140,605
20,200
13,000
128,660
31,292
865,000
416,000
..“ t
120,000'
103,000
768,906
315,482
24,732
25,894
[VOL. LXXXVIII.•
THE CHRONICLE
916
Flour
Jan 1 to March 27. (bbls.)
Minneapolis
1909
1908
Kansas City
1909
1908
Total ot all
1909
1908
Barley
(bush.)
Rye
(bush.)
16,012,900 1,532,036 2,748,450 4,094,510
19,406,300 1,656,830 4,541,190 2,948,290
385,207
432,760
Wheat
(bush.)
Corn
(bush.)
Oats
(bush.)
6,096,800 3,173,600 1,485,000
5,175,620 2,603,700 1,196,250
3,957,346 33,465,535 46,306,056 34,580,023 18,621,669 1,329,489
3,954,281 37,766,363 49,208,937 44,475,838 12,807,444 1,540,830
Live-stock receipts at the six principal Western
markets, namely Chicago, Kansas City, Omaha, St.
Louis, St. Joseph and Sioux City, were a little larger
in March 1909 than in 1908. Of cattle, 632,300 head
were brought in, against 625,700; of hogs, 1,900,000
head, against 1,758,400, and of sheep, 792,100, against
610,400.
As regards the cotton movement in the South, the
shipments overland were 112,735 bales in 1909, against
122,367 bales in 1908 and 215,646 in 1907, while the
receipts at Southern outports reached 497,670 bales,
against 417,501 bales last year, but comparing with
662,646 bales in March 1907.
RECEIPTS OF COTTON AT SOUTHERN PORTS IN MARCH, AND FROM
"JANUAR= TONARCII 31 1909, 1908 AND 1907.
Since January 1.
March.
Ports
1909.
Galveston
Port Arthur, &c
New Orleans
Mobile
Pensacola, &c
Savannah
Brunswick
Charleston
Georgetown
Wilmington
Norfolk
Newport News, &e
1908.
1907.
bales 182,968 167,630 323,251
42,750 15,942 10,282
127,760 107,992 165,450
17,629 13,010 11,952
11,120 17,220 6,669
57,120 53,348 69,940
9,146
139 6,595
9,995 4,458 10,282
306
12,397 12,764 12,209
24,399 24,822 40,830
176 5,186
2,080
Total
1909.
854,099
168,855
577,150
84,729
56,765
245,992
94,297
42,209
974
65,771
113,185
8,830
1908.
March.
1909.
497,670 417,501 662,646 2,312,856 2,261,712 2,888,490
PRINCIPAL CHANGES IN GROSS EARNINGS IN MARCH.
Increases.
Increases.
Canadian Pacific
$1,067,000 Chicago Ind & Louisville_
$48,393
Great Northern (2)
775,716 Wisconsin Central
44,075
Missouri Pacific (2)
447,000 Central of Georgia
43,900
Southern Railway
395,032 Cinc New Ori ec Tex Pac_
y41,181
31,965
Denver & Rio Grande..
Great Western__
346,600 Chicago
Illinois Central
294,279 Iowa Central
31,821
Louisville & Nashville_ __
290,419
Chesapeake & Ohio
251,135 • Representing 29 roads in
Wabash
210,225
our compilation
$5,185,559
, Grand Trunk (4)
151,192
St Louis Southwestern
119,394
Canadian Northern
113,400
Decreases.
Colorado & Southern_ __ _
104,679 Yazoo & Miss Valley
$81,434
Internat'l & Great Nor__
100,000 Buffalo Roch & Pittsb_ _ _
71,289
Texas & Pacific
88,859 Chicago & Alton
50,443
Atlanta Birm & Atlantic_
81,110
Mobile & Ohio
Representing 3 roads in
58,966
Minneapolis & St Louis
49,218
our compilation
$203,166
y1These figures are for three weeks only.
Note.-Flgures in parenthesis after name of road indicate the number of
lines or companies for which separate returns are given in our compilation.
To complete our analysis, we furnish the following
six-year comparison of the earnings of leading roads
arranged in groups. These will enable the reader to
see in each case just how the 1909 figures compare with
those for the years prior to 1908.
1908.
1907.
1906.
1904.
1905.
Canadian Pac_ 6,441,000 5,374,000 6,132,910 5,093,286 4,132,961 3,532,187
780,595
719,665
Chic Gt West.* r698,004 7666,039
761,205
692,673
Dul So Sh & A 7216,747 7218,698 r252,870
190,508
252,309
238,392
Gt North Spit_ 3,994,086 53,218,370 4,440,155 4,066,471 3,419,705 3,041,634
256,353 , 275,159
Iowa Central__ 7290,872 r259,051
242,888 , 216,087
7356,198 r306,980
332,562
Minn & St L__
298,613
235,463
277,109
MinStP& SSM. r942,108 r955,418 71,000,855
771,546
903,677
468,817
12,939,015 10,998,556 13,196,300 11,650,720 9,775,274 8,404,361
Total
*Results are based on 111 miles less road beginning with 1905.
b Actual figures of earnings are now used for comparison.
r Figures are on the new basis of accounting prescribed by the Inter-State Commerce Commission.
EARNINGS OF MIDDLE AND MIDDLE WESTERN GROUP.
1909.
March.
1908.
I
1907.
1906.
1905.
1904.
$
1
$
7664,051, 7668,613
r394,306 7502,636
716,495
Buff Roch & P 7592,762
652,863
642,919
454,307
Chic Ind & Lou r442,699
486,745
421,695
Gr Trk of Can)
Gr Trk Wes} 53.167,451 3,016,259 3,571,270 3,268,011 3,047,060 2,649,779
Det G H&M)
Illinois Central a4,961,734 a4,667,455 5,076,630 4,640,563 4,355,593 4,090,660
104,424
97,964
89,683
102,217
98,541
Tol Peo & Wes
113,292
284,466
321,542
276,880
344,545
312,128
Tol St L & Was
305,428
2,186,355 1,976,132. 2,204,353 2,100,502 1,872,460 1,750,620
Wabash
11,717,564 11,107,093 12,443,008 11,628,640 10,825,390 9,974,393
Total
a Embraces some large Items of income not previously Included in monthly returns.
b Includes Canada Atlantic beginning with October 1904.
r Figures are on the new basis of accounting prescribed by the Inter-State Commerce Commission.
EARNINGS OF SOUTHERN GROUP.
1907.
818,214 1,332,720
56,991
81,579
639,227 770,812
75,016
64,576
59,964
53,378
262,596 291,423
64,607
48,826
25,254
26,745
227
302
98,974
60,592
135,259 157,593
795
24,532
In the case of the separate roads there is a long
list of increases,some for quite large amounts, as would
be expected, while there are few losses. As with the
general totals, this year's gains are more or less proportioned to last year's losses, and, with few excep
tions, the gains are not equal to the 1908 losses. The
Canadian Pacific is one of the exceptions, its increase
of $1,067,000 this year comparing with only $758,910
decrease last year. The Great Northern has the next
largest increase, but the amount at $775,716 compares
with no less than $1,221,785 loss in 1908. The Missouri Pacific has a gain of $447,000, as against a loss
of $683,202, the Southern Railway a gain o'$395,032,
against a loss of $852,795, and the Louisville & Nashville a gain of $290,419, against a loss of $768,390.
Below we show all changes for the separate roads for
amounts in excess of $30,000, whether increases or
decreases. It will be observed that three roads are
distinguished for losses running in excess of that figure, namely the Buffalo Rochester & Pittsburgh, the
• Chicago & Alton and the Yazoo & Mississippi Valley
All three had small gains a year ago.
EARNINGS OF NORTHWESTERN AND NORTH PACIFIC GROUP.
1909.
March.
1908.
1907.
1906.
1004.
1905.
$
260,373
310,505
331,069
Ala Great Sou_ re 262,311 r246,005 7314,978
Ala N Cr& T P
202,022
247,481
N 0 & N E_ d249,533 r226,533 7262,650 r281,967
117,030
Ala & Vieks_ d132,572 r132,572 7138,048 7121,427
127,855
Vicks Shr&P d119,853 7121,853 r138,137 7121,687
126,790
128,437
Cent of Georgia r1,005,800 r961,900 1,147,185 1,047,780
852,353
937,566
Cm N 0 & T P rc642,335 7601,077 r646,512
572,401
786,447
637,645
Louisv & Nash r3,839,185 73,548,766 74,317.156 3,712,381 3,523,214 3,246,607
Mobile & Ohio r806,752 7747,786 7995,001
760,334
647,399
836,792
Southern Ry__ 74,555,764 74,160,732 75,013,527 4,869,328 4,542,436 4,054,979
Yazoo & M V.. a830,561 a911,995
866,884
891,203
820,163
672,085
12,444,666 11,859,219 13,840,078 13,000,081 12,035,636 10,752,039
Total
a Includes some large items of Income not prey ousiy included in:monthly returns.
C Fourth week not yet reported: taken same as last year.
d Month of March not yet reported; taken same as last year.
r These figures are on the new basis of accounting prescribed by the Inter-State
Commerce Commission.
EARNINGS OF SOUTHWESTERN GROUP.
Mardi.
1909.
Colo & South.*
Denver & R G
Inter & Gt Nor
M P & Cent Br
St Louis S W_
Texas &Pacific
71,160,083
71,633,000
r625,000
3,891,000
7841,220
71,118,298
1908.
1907.
71,055,404
71,286,400
7525,000
3,444,000
r721,826
r1,029,439
1906.
1905.
1904,
$
955,648
778,320
571,819
1,108,595
71,672,631 1,482,707 1,308,146 1,182,986
519,098
525,236
373,289
673,422
3,766,447 3,645,178
4,127,202 3,750,220
760,927
797,856
593,627
7859,182
948,934
r1,402,633 1,162,108 1,059,977
9,268,601 8,062,069 9,843,665 8,630,708 8,235,982 7,315,833
Total
*For 1909, 1908, 1907, 1906 and 1905 includes all affiliated lines except Trinity
& Brazos Valley RR. For 1904 we have combined Colorado & Southern and
Fort Worth & Denver City.
7 Figures are on the new basis of accounting prescribed by the Inter-State Commerce Commission.
'
GROSS EARNINGS AND MILEAGE IN MARCH.
Mileage.
Gross Earnings.
Name of Road. '
Alabama Great South
Ala New On & T P
New On & No East..
Alabatna & VIcks__
Vicks Shrev & Pac_
Atlanta Birm & AU_
Buffalo Roch & Pitts_
Canadian Northern__
Canadian Pacific
Central of Georgia_ _
Chesapeake & Ohio
Chicago & Alton
Chicago Great West
Chic Indianap & Louts
Cin New Orl & Tex P_
Colorado & Southern_
Denver & Rio Grande
Detroit & Mackinac
Detroit Toledo & Iron
Ann Arbor__
Duluth So Sh & Att
Georgia Sou & Florida
Grand Trunk of Can.)
Grand Trunk West
Piet Gr Hay & Mill
Canada Atlantic_ _
Great Northern
Eastern of Minn,.
Montana Central.._)
Illinois Central..
Internat & Great Nor
Iowa Central
Louisville & Nashvilli
Mineral Range
Minneapolis & St Lou
Minneap St P & S S M
Missouri Pac & IronAtt
Central Branch..
Mobile & Ohio
Nevada-Cal-Oregon
Rio Grande Southern_
St Louis Southwestern
Southern Railway,.,..._
Texas Central
Texas & Pacific
fri...1....-1,. 11...
......
I
2 T CT....
.
•
+)
(-).
1900.
$
y180,689
Inc.(
or
Dec.
1009. 1908.
1908.
$
$
+17,304
y163,385
309
309
p162,000
y80,000
1171,000
199,806
592,762
738,700
6,441,000
1,005,800
2 198,066
1,002,629
698,004
442,699
y436,610
1,160,083
1,633,000
124,140
1169,687
1/119,463
216,747
y126,303
+23,000
y139,000
196
196
y80,000
143
143
-2,000
y73,000
171
171
+81,100
118,696
642
494
664,051
-71.289
568
568
625,300
+113,400 3,224 2,874
5,374,000 +1,067,000 9,426 9,230
961,900
+43,900 1,915 1,913
+251,135 1,896 1,839
1,946,931
1,053,072
-50,443
998 1,005
666,039
818
+31,965
818
394,306
617
616
+48,393
y395,429
336
336
+41,181
1,055,404
+104,679 1,950 1,953
1,286,400
+346,600 2,561 2,546
344
99,174
348
+24,966
486
438
y79,057
--9,370
300
300
y89,836
+29,627
591
595
-1,951
218,698
y108,213
+18,090 395 395
3,167,451
3,016,259
+151,192 4,528 4,528
3,994,086
3,218,370
+775,716 6,937 6,663
4,961,734
625,000
290,872
3,839,185
68.647
356,198
942,108
3,747,000
144,000
806,572
35.732
50,146
841,220
4,555,764
1/60.872
1,118,298
4,667,455
525,000
259,051
3,548,766
65,703
306,980
955,418
3,318,000
126,000
747,606
23,774
44,067
721,826
4,160,732
p45,419
1,0,Alt"
29439
•.sa
+294,279
+100.000
+31,821
+290,419
+2,944
+49,218
-13,310
+429,000
+18,000
+58,966
+11,958
+6,079
+119,394
+395,032
+14,953
+.88,859
• A 04.11
Off °Oft
il.1.10.)
4.519
1,159
558
4,388
128
1,027
2,394
6,101
388
926
184
180
1,470
7,055
268
1,885
OA 2
4,377
1,159
558
4,347
128
1,027
2,309
6,091
388
926
164
180
1,470
7,015
268
1,885
9AQ
APE. 10 1909.
THE CHRONICLE
Mileage.
Gross Earnings.
Name of Road.
1909.
Toledo St Louis & W_
Wabash
Wisconsin Central__ _
Yazoo & Miss Valley..
Inc.(+) or
Dec.(-). 1909. 1908.
1908.
284,466
1,976,130
590,470
911,995
451
451
--7,586
+210,225 2,515 2,515
+44,075 1,131 1,023
-81,434 1,371 1,345
Total (48 roads)_
51,321,597 48,239,241
Net increase (10.99%)
+5,082,356 77,656 76,193
Mexican Roads (not ncluded in total)
Interoceanic of Mexico
602,664
665,283
Mexican International
555,150
657,322
Mexican Railway
y440,700
y477,200
Mexican Southern_ _ _ _
1181,195
y77,619
National Rys of Mex.. 4,628,345 4,376,435
736
736
--62,610
918
918
--102,172
321
321
--38,500
263
263
+3,578
+251,910 5,273 5,146
278,880
9,186 355
634,545
830,561
y These figures are for three weeks only.
.
GROSS EARNINGS FROM JANUARY 1 TO MARCH 31.
Name of Road.
Alabama Great Southern.._
Ala New On & Tex PacNew Orl & No Eastern....
Alabama & Vicksburg__
Vicks Shrev & Pacific__ _
Atlanta Birm & Atlantic__
Buffalo Rochester h Pitts.
Canadian Northern
Canadian Pacific
Central of Georgia
Chesapeake 63 Ohio
Chicago & Alton
Chicago Great Western....- Chicago Ind & Loulsville.._
Cin New On & Texas Pac.._
Colorado & Southern
Denver & Rio Grande
Detroit & Mackinac
Detroit Toledo & IrontonAnn Arbor
Duluth So Sh & Atl
Georgia Southern & Fla__ _
Grand Trunk of Canada__
Grand Trunk Western..
Dot Gr Hay & Milw___
Canada Atlantic)
Great Northern
Eastern of Minn
Montana Central
Illinois Central
Internat & Great Northern
Iowa Central
Louisville & Nashville...._ _
Mineral Range
Minneap & St Louis
Minneap St Paul & S S M_ _
Mo Pacific & Iron Mount'n
Central Branch
Mobile & Ohio
Nevada-California-Oregon _
Rio Grande Southern
St Louis Southwestern__ _
Southern Railway
Texas Central
Texas & Pacific
Toledo Peoria & Western.._
Toledo St Louis & Western
Wabash
Wisconsin Central
Yazoo & Miss Valley
1909.
-$
y789,757
1908.
p660,944
Increase.
Decrease.
108,813
123,780
y591,069
y714,849
14,990
p325,475
Y340,465
y309,658
Y309,500
203,272
240,298
843,570
1,597,823
1,565,308
78,400
1,767,500 1,689,100
16,169,068 14,001,604 2,167,484
89,343
2,850,118 2,760,775
774,486
8,181,754 5,407,268
21,977
2,897,818 2,875,841
1,878,639
1,870,414
110,334
1,158,432 1,048,098
y1,695,123 y1,488,288
228,835
3,594,752 3,407,908
186,844
4,542,941
3,942,431
600,410
302,623
262,277
40,346
y261,410
5276,332
y367,423
y334,956
32,467
809,235
604,839
4,496
y475,711
y430,957
44,754
8,337,338
8,142,470
9,103,867
8,225
14,922
194,868
9,934,233
158
32,515
830,386
14,340,261 13,676,765
663,496
1,873,331
1,624,391
248,940
750,166
734,790
15,376
11,112,800 10,102,506 1,010,294
192,055
181,646
10,409
914,072
840,459
73,613
2,481,402 2,397,323
84,079
10,718,137 9,279,905 1,438,232
406,000
352,000
54,000
2,411,161
263,102
2,148,059
79,556
15,130
64,426
122,280
126,282
376,062
2,506,569 2,130,507
12,653,972 11,625,970 1,028,002
51,237
y206,973
y258,210
41,267
3,455,545 3,414,278
320,271
258,905
836,698
757,086
254,454
6,037,614 5,783,160
105,025
1,612,029
1,717,054
2,692,030
2,599,193
Total (48 roads)
142,002,711 131,609,385 11,588,963
Net increase (8.68%)
11,293,326
Mexican Roads (not !nein ded in total
1,659,138
Interoceanic of Mexico
1,995,039
Mexican International...._ _
1,723,094
1,960,538
Mexican Railway
y1,567,600 y1,869,800
Y307,316
Mexican Southern
v285.290
22,026
National Railways of Max.. 9,941,381 10,076,836
4,002
63,366
79,612
92,837
295,637
335,901
237,442
302,200
135,455
V These figures are down to the third week of March only.
ITEMS ABOUT BANKS, BANKERS AND TRUST CO.'S.
-The public sales of bank stocks this week aggregate only
30 shares, of which 15 shares were sold at auction and 15
shares at the Stock Exchange. The transactions in trust
company stocks reach a total of 106 shares. Five shares
of stock of the Bank of New York were sold at 3553', an
advance of 273 points over last week's sale price.
Shares. BANKS
Low. High.
-New York.
10 Citizens' Central Nat. Bank.. 160
160
•15 City Bank, National
348
345
5 New York, N.B.A., Bank of 355M 355)4
TRUST COMPANIES-New York.
6 Lincoln Trust Co
140
140
100 Windsor Trust Co..
126
126
Close. Last previous sale.
160
March 1909- 160%
345
March 1909- 345
355) March 1909- 328
140
126
Jan.
1909-199 Yia
• Sold at the Stock Exchange. a Old stock.
-The nomination of Charles Dyer Norton of Chicago
as an Assistant Secretary of the United States Treasury was
con firmed by the Senate on the 5th inst.
A plan for systematizing designs for United States notes
and coin certificates, whereby there will be a uniformity in
portrait and general design for notes of the same denomination of each class, is understood to have been approved by
Assistant Secretary of the Treasury L. A. Coolidge. To
'lessen the confusion and uncertainty occasioned by the
present use of nineteen different designs for notes and coin
certificates, it is intended under the new plan to have but
nine designs., All classes of notes of each denomination are,
under the'changed system, to carry the same portrait, and
no portrait will appear on notes of more than one denomination; nor will any portrait be used which will not be readily
917
recognizable. The one-dollar silver certificate will bear
the portrait of Washington, and the two-dollar certificate
that of Jefferson. The $5 note, whether silver certificate
or greenback, will carry the po trait of Lincoln; the $10 gold
and silver certificates and United States notes that of Cleveland; the $20 that of Jackson; the $50 that of Grant; the
$100 that of Franklin; the $500 that of Salmon P. Chase and
the $1,000 that of Alexander Hamilton. The eagle, the
buffalo and the Indian head, subjects easily counterfeited,
will be abolished, as will also the portraits of Michael Hillegas,
the first Treasurer of the United States; Monroe, Silas Wright,
Lewis, Clark, Mansfield and others of historical note. The
classes of notes will be differentiated by color and by other
distinguishing marks to insure their easy classification in the
redemption division of the Treasury. It is not contemplated, it is said, to change the national bank notes on which
appear the portraits of McKinley, Harrison, Sherman, Garfield and McCulloch.
-The New York Stock, Cotton and Coffee exchanges
will remain closed to-day (Saturday), in addition to yesterday-Good Friday. Business was suspended on the New
York Produce Exchange yesterday, but that Exchange will
be open to-day. The stock exchanges of Philadelphia and
Pittsburgh will not resume business until Monday morning.
Good Friday is a legal holiday in the State of Pennsylvania,
and the exchanges of both cities also voted to remain closed
to-day. The Boston Stock Exchange held no session yesterday, and it, too, continues closed until Monday. The
Chicago Stock Exchange has had three holidays this week,
there being a suspension of business there yesterday and today, and on Tuesday last, Election Day.
The London Stock Exchange, besides closing yesterday
and to-day, will also be closed on Monday next.
-The New York Senate on the 1st inst. unanimously
passed the concurrent resolution of Assemblyman Frisbie,
requesting the New York representatives in Congress to
oppose Federal legislation imposing an inheritance tax, as
proposed in the Payne bill, on the ground that the needs
of the State are so many that it cannot sacrifice or surrender
a source of revenue yielding over $5,000,000. This resolution had been unanimously adopted by the Assembly on
March 22.
-A bill was signed by Governor Fort of New Jersey on
the 7th inst. making Good Friday a legal holiday in that
State. The day had previously been proclaimed as a public
holiday, but financial institutions have been in doubt as to
when negotiable paper falling due on Good Friday became
payable. The bill, it is stated, names all the holidays and
provides specifically that notes falling due on a holiday or
Good Friday shall be payable the following secular day.
-The Philadelphia Clearing-House Association at a meeting this week decided to put into operation the plan already
introduced by several other similar organizations of appointing a special examiner to keep supervision over the banks
in the association. The task of perfecting the details of the
proposed plan has been delegated to the Clearing-House
Committee, consisting of Richard H. Rushton, President of
the Fourth Street National Bank, Chairman; Howard W.
Lewis, President of the Farmers' & Mechanics' National
Bank; Levi L. Rue, President of the Philadelphia National
Bank; J. Tatnall Lea, President of the First National Bank;
Samuel S. Sharp, President of the Penn National Bank;
Joseph Moore Jr., President of the National Bank of the
Northern Liberties, and Francis B. Reeves, President of
the Girard National Bank. In commenting on the move,
the Philadelphia "Record" states that one of the main advantages which it is hoped to secure from the system is to
prevent the possibility of abuse of credits through the granting of accommodations to borrowers on too free a scale, and
this is expected to obviate the necessity of registration of
commercial paper urged by many bankers.
-In St. Joseph, Mo., where the plan of employing a
special Bank Examiner by the Clearing-House Association
went into effect on March 29, some of the smaller institutions are said to be protesting against the action. The
association, it is stated, has also adopted a rule providing
that the rate of interest on savings accounts shall not exceed
3%; and it has likewise been decided that a charge will hereafter be made for the collection of checks. One trust corn-
918
THE CHRONICLE
pany which pays 4% interest is said to have determined to
continue doing so.
—The work of the 1909 session of the Washington Legislature is reviewed in a preliminary report issued under date
of March 20 by the Legislative Committee of the Washington
Bankers' Association. One of the principal acts of the
Legislature, the committee notes, was the passage, and approval by the Governor, of the bill which compels the use of
uniform bills of lading by railroads and carriers. The report
also enumerates the enactment of other measures of more or
less import, and mentions the defeat of all bills providing
for the guaranty of deposits, and a bill introduced to repeal
the Gunn Bill, passed in 1907, exempting mortgages, notes,
warrants, bonds and similar securities from taxation—none
of these measures having been reported out of the committees to which they had been referred.
As heretofore noted, the Washington Bankers' Association
will hold a joint convention in Seattle with the Oregon and
Idaho associations. The meeting will occur on June 24, 25
and 26, when the Alaska-Yukon Pacific Exposition will be
in progress, and an especially large attendance is looked for.
—A meeting of the Committee on Commercial Law of the
Commissioners on Uniform State Laws will be held at the
Waldorf-Astoria on April 19, 20 and 21 at 10 a. m. The
matters to be considered and discussed are tentative drafts
of uniform bills of lading, certificates of stock and partnerships.
notes, &c.,[alleged to have been transferred to the firm of
A. H. Combs & Co. on Aug. 25 1908, the day before the
filing of the involuntary petition against A. 0. Brown & Co.
Mr. Littlefield seeks to have the transfer declared void on the
ground that at the time it took place the Brown firm was
known to be insolvent.
W.Rhea Whitman,formerly a member of the firm of A. 0.
Brown & Co., was acquitted on the 29th ult. of a charge
alleging the larceny of stock valued at $9,500, given as
security for a loan.
—The officials of the Glen Cove Bank of Glen Cove, N. Y.,
issued invitations for an inspection of the new banking rooms
and safe deposit vaults of the institution on the occasion of
the opening of its new building, March 27. Judging from
a photograph of the building displayed on a calendar enclosed with the invitation, the bank is provided with admirable quarters in its new home.
—Frank Hodson, Cashier of the First National Bank of
Hoboken, N. J., died on the 29th ult. Mr. Hodson was
born in England seventy-three years ago. He came to this
country when quite young, and forty years ago entered
the employ of the bank as a bookkeeper, becoming Cashier about ten years ago.
—A dividend of 10% just declared by Receiver Christop her L. Williams of the Fredonia National Bank of Fredonia,
N. Y., will, it is stated, bring the total payments thus far up
to 60%. The bank failed in June 1905.
—Coincident with the commercial progress of New York
—The Binghamton Trust Co. of Binghamton, N. Y.,failed
the artistic growth of our city has kept pace and has found to open its doors yesterday morning (April 9), this being
convenient expression in the construction of many of its followed by the announcement that the State Banking Demunicipal and business buildings. Some of the best evi- partment had taken charge of the institution. The Binghamdences of this movement are exemplified in the facades and ton Trust Co. was organized in 1890 and had a capital of
interiors of recently erected bank buildings. The interior $300,000 and a surplus of $60,000. Charles J. Knapp is its
and mural paintings of the Park National Bank, the water- President. Following the suspension of the trust company
color sketches and appointments of the Importers' & Traders' came the announcement that Knapp Brothers, with private
National Bank, the imposing interior of the National City banks at Deposit, N. Y., and Callicoon, N. Y.(with whom
Bank, the Speyer & Co. building and others are practical President Knapp of the trust company is connected), had
examples of artistic endeavor. With this purpose in view, also suspended payment. The directors of the institution,
the walls of the banking rooms of the Van Norden Trust it is reported, have issued a statement saying that the susCo., Fifth Ave. and 60th St., have lately been adorned with pension is due to the discovery of the insolvency of the Knapp
six historical paintings by Charles R. Bacon. These Brothers'institutions, and that they hope out of the resources
paintings, or lunettes as they are called, fit in the upper at hand and the liability of the stockholders to meet all depanels of the walls. Mr. Bacon's paintings have been mands in full and to reorganize.
praised by fellow artists and authorities in this class of
—In pursuance of unanimous action taken by the stockwork. The subjects chosen for portrayal are reminiscent holders on the 2d inst., the name of the National Bank of
of New York's history from its earliest settlement to the Rochester, at Rochester, N. Y., will hereafter be the Lincoln
present day .as follows: "Purchase of the Island of Man- National Bank. The officers announce that the action was
hattan, 1626"; "De la Montagnie before the Council, the outcome of a very general wish on the part of the stock1655"; "Evacuation of New York by the British, Nov. 25 holders that the bank should bear a more distinctive name,
1783"; "Departure of the New York Seventh Regiment for and the accomplishment of this purpose was consistent with
Washington, April 19 1861". On the eastern wall are their desire to pay a tribute to the memory of Abraham
representations of the "Half Moon" of eighty tons, discoverer Lincoln. Aside from the adoption of the new title, which
of the Hudson River, the "Lusitania" of thirty-six thousand has been approved by the Comptroller of the Currency, there
tons, the latest and largest ship now trading with the port, has been no other change in the organization. The capital
and also a view of New York City in 1790 from the opposite and surplus remain at $1,000,000 each, and the management
shore of the Hudson River. The company's beautiful continues under the direction of Eugene Satterlee, President;.
banking room (covering over 7,591 square feet), 26 feet in Walter B. Duffy, Charles H. Babcock and Edward Bausch,
height, without columns or obstructions of any kind, is Vice-Presidents; Peter A. Vay, Cashier; William B. Farnartistically finished in Italian marble, bronze and mahogany, ham,and Edward F. Pillow, Assistant Cashiers, and Robfurnishing a striking contrast with the strong ivory tone of ert Bannard, Auditor.
the general decorations, of which these paintings form such
—The directors of the Union Trust Company of Providence
a distinctive part.
have voted to pay to depositors on May 4, the anniversary
—A special meeting of the stockholders of the Equitable of its reopening, the two installments of 10% each due May 4
Trust Company of this city will be held on April 22 for the 1910 and Nov. 4 1910. The company will thus have paid in
purpose of electing a permanent board of trustees, and to one year from the date of resumption a total of 60% to
consider the question of increasing the board from twenty- the depositors whose claims come under the deferred payfour to thirty members, and, if approved, to amend the by- ment plan.
laws accordingly. With the consolidation recently entered
—Schedules in bankruptcy of E. H. Gay & Co. of Boston
into between the Equitable and the Bowling Green trust were filed on the 3d inst. They show, according to the Boscompanies, a temporary board of twenty-four members ton papers, liabilities of $6,320,787, of which $3,245,840 are
was named.
secured. The assets are said to have an estimated value of
—Hearing on an application to change the name of the $2,272,269. The firm was placed in receiver's hands on
Hungarian-American Bank of this city to the International Oct. 22 1908, and was formally declared bankrupt on March
Exchange Bank, which was to have been had before the 23 1909.
State Banking Department on the 5th inst., has been
—For the convenience of its patrons the Pennsylvania
indefinitely postponed.
Company for Insurances on Lives and Granting Annuities,
—Suit has been instituted by Charles E. Littlefield, as of Philadelphia, will open an office on Monday,the 12th inst,
trustee in bankruptcy for the firm of A. 0. Brown & Co. of in the Franklin Bank Building, at Broad and Chestnut
this city, to recover $256,800 in stock, bonds, securities, streets. The main office of the company is at 517 Chestnut
APR. 10 1909.
THE CHRONICLE
919
W. E. Heaton of the First National and his associates, it is
St. At the new office all facilities will be offered to deposi- stated, take over all the interests of C. P. and W. H. Edtors in the banking department, and a representative of the munds of the absorbed institution. It is also said that Mr.
trust department will attend to the needs of those interested Heaton will organize the First Loan & Trust Co.
in trust accounts who may find the new quarters more con—George S. Hall has been appointed receiver of the Nye
venient than those at Fifth and Chestnut streets.
points in
Woodward & Ormsby Bank, which operates offices at various
—Charles Class has been elected to succeed B. J.
Nevada, and which closed its doors on Feb. 23.
as Vice-President of the Tenth National Bank of Philadel—An application to organize the Continental National
phia
was
removed on the Bank of Salt Lake City, Utah, with $250,000 capital,
—The Second National Bank of Pittsburgh
roller of the Currency on March 30.
5th inst. to the first floor of the Westinghouse Building, approved by the Compt
corner of Penn Ave. and Ninth St., where it will remain
—A meeting of the stockholders' of the Bankers' Trust
until the completion of its new building.
Company of St. Louis will be held on the 15th inst. to vote
—A 10% dividend was paid on the 1st inst. to the deposi- on the question of increasing the capital from $500,000 to
tors of the Traders & Mechanics' Bank of Pittsburgh, which $1,000,000. The new stock will be sold at $200 per $100
closed its doors in January 1908. With a 20% dividend share, an addition of $500,000 being thereby made to the
distributed six months ago, the depositors have thus far surplus, raising it to $700,000. The institution does not
engage in a banking business.
received 30%. Charles F. Kirschler is the receiver.
—Steps have been instituted for the formation of the
—John H. Bragdon, Assistant Cashier of the Ohio Valley
F. B. Reynolds, re- Broadway National Bank of St. Louis with $200,000 capital.
Bank of Allegheny, Pa., has replaced
The application to organize the bank, presented by D. A.
signed, as Cashier.
Siegfried, Snelson Chesney, F. Ernest Cramer, C. L. Gray
—Thomas G. Hayes, former receiving teller of the Amerier on
on, D. C., recently placed on and Xenophon Wilfley, was approved by the Comptroll
can National Bank of Washingt
the 20th ult.
trial on charges of embezzling $5,200 of the bank's funds,
—The Kansas.Bankers' Association has arranged to hold
was found guilty on 24 counts on March 30.
Wichita. W. W.
Co. of Cleveland its annual convention on May 26 and 27 at
—The liabilities of Lamprecht Bros. Sc
is Secretary of the organization.
Bowman
are placed at approximately $1,500,000 in schedules filed
—The Virginia Bankers' Association has decided to hold its
on the 5th inst. About $1,000,000 of the claims are said
The assets are not given, but it is stated annual convention at Old Point Comfort on May 20, 21 and
to be secured.
that only a few thousand dollars will remain for the unsecured 22. N. P. Gatling, of Lynchburg, is Secretary of the
creditors. The firm assigned Feb. 9. Thomas II. Bushnell organization.
is the assignee.
—A charter has been secured for the Main Street Bank
—Robert Crosser has been appointed Assignee of the Glen- (Inc.) of Richmond, which, it is stated, will take over the
ville Banking & Trust Company of Cleveland, to succeed Fifteenth Street branch of the Bank of Richmond. The
Dorr E. Warner, resigned. The bank assigned on Dec. 19 capital of the new institution will be not less than $50,000
1907. The depositors, it is understood, have received 25% nor more than $100,000. Its officers are: John C. Hagan,
President; Simon P. Jones, Vice-President; and F. H. Harof their claims.
daway, Secretary and Cashier. The branch will begin
—In a report of the financial condition of the American
as an independent institution about the 15th inst.
Guaranty Company of Chicago, recently filed by Receiver business
Edwin A. Potter, the assets are placed at $792,865. The
—The Merchants' Bank began business in Raleigh. N. C ,
outstanding contracts, the Chicago 'Tribune" reports, on March 29 with an authorized capital of $100,000 Ac.amount to $2,071,404, figured on the actual net amount of cording to the Raleigh "News and Observer," the new insticash paid in, but figured on the surrender value amounts to tution is located in the quarters heretofore occupied by the
only $1,081,762. The assets include a special fund of $566,- Carolina Trust Co., and it assumes the deposit liability of
•000, which was lately transferred from the Royal Trust Com- the latter. The bank is under the direction of E. C Dunpany to the receiver. The question as to whether this fund can, President; William H. Williamson and W. F Utley,
.shall be distributed solely to contract holders for whose pro- Vice-Presidents; and S. J. Hinsdale, Acting Cashier. The
tection it was established, or whether it shall be considered conversion of the institution to the national system is said
as a part of the general fund will probably be submitted to to be contemplated.
the court for decision.
—The directors of the Franklin Bank of Louisville, Ky.,
F. Sorrow, Vice-President of the failed Bank of have taken action toward increasing the capital of their insti—Gustav
America of Chicago, who was convicted on charges tution from $100,000 to $200,000. Steps will also be taken
of conspiracy to defraud the depositors of the institution, shortly to convert the bank into a national institution. It
began his sentence in March, having given up the attempt began business in April of last year.
to have the charges set aside.
—T. S. Anderson, former President of the failed Daviess
his resignation as Cashier of County Bank & Trust Co. of Owensboro, Ky., who was con--- Hugh Blair has tendered
statethe City Trust & Savings Bank of Grand Rapids, Mich. On victed in January on the charge of swearing to a false
identified with the banking house of ment of condition and sentenced to three years' imprisonMay 1 he is to become
Child, Hulswit & Co. of Grand Rapids and will have charge ment, has been allowed a new trial by the Court of Appeals.
of the stock and bond department of that firm.
—J. W. Rodes has been advanced from the cashiership to
of the Merchants' the presidency of the Phoenix National Bank of Lexington,
—Louis F. Boder, heretofore Cashier
0. D. Randolph
Bank of St. Joseph, Mo., has been elected Second Vice- Ky. F. G. Stilz has been made Cashier and
as Cashier by Assistant Cashier. G. D. Wilson has become a Vice-PresiPresident of the institution. He is succeeded
W. S. McLucas, who, with his father-in-law, M. V. Nichols, dent of the institution.
of the First National Bank of Beatrice, Neb., is said to have • —The United States National Bank of Owensboro, Ky.,is
acquired a considerable interest in the St. Joseph bank.
being formed with $250,000 capital. The Comptroller has
the proposed institution,
Milwaukee "Wisconsin" reports the absorption of approved the organization of
—The
Old National which, it is stated, will represent a merger of the Bank of
the German National Bank of Oshkosh by the
the Fourth Street Bank and the Eagle Bank of
Bank of that city. It states that at a regular meeting of Commerce,
it Owensboro.
the stockholders of the German National on Monday,
—The purchase of property at Madison Avenue and Second
was decided to liquidate and sell its entire business to the
&
Old National, the transfer going into effect immediately. Street, Memphis, has been effected by the Central Bank
has a capital of $100,000; its Cashier, Trust Company of that city. While it is said that the plans
The German National
, it is
Frank Labudde, will become Assistant Cashier of the Old with regard to the acquisition are not fully developed
stated to be not unlikely that the bank may,within the next
National.
building on the site,in which it will make its
—A dispatch from Yankton, S. D., to the "St.Paul Pioneer two years,erect a
Yankton home. The present quarters occupied by the bank are leased
Press" on March 19 reported the absorption of the
to come. The newly acquired property
National Bank by the First National Bank of Yankton. for nearly two years
920
THE CHRONICLE
Lxxxvm.
measures 743/i feet by 149 feet. The purchase price is said Presiden
ts; F. M. Law is Cashier and Rupert H.Cox Assistant,
to have been $150,000.
Cashier.
—The Georgia Bankers' Association will hold its annual
—A consolidation of the Gaston National Bank and
the
convention on May 27 and 28 at the Hotel Tybee, Tybee Commonw
ealth National Bank of Dallas, Texas, is proposed.
Island, near Savannah, Ga. L. P. Hillyer, Vice-President Announc
ement to this effect is made by the President of the
of the American National Bank of Macon, is Secretary of
the respective institutions, who state that the purchase
of an
association.
interest in the two banks has,been consummated by
John
—Under an order of Judge U. V. Whipple, the sale of 768 W. Wright, of Tyler, and
R. P. Wofford, of Athens, Texas,
shares of stock of the Union Savings Bank Liz Trust Co.
together with a number of directors of the banks concerne
of
d.
Macon, Ga., to Leon S. Dure at $26,850, or about $35
per The consolidated institution will continue under the title
share, has been authorized. The Union Savings Bank
Commonwealth National Bank, and the capital
& of the
will
Trust Co. suspended operations in the latter part of
1907, remain at $500,000. President W. H. Gaston and Vicefollowing the failure of the Exchange Bank, by whom
the Presidents D. E. Waggoner and R. K. Gaston of the Gaston
768 shares of stock was owned. A bid of $22,500 (or $29
99 National retain an interest in and will be officially connected
per share) was made for the stock in September 1907,
but with the new institution, as will also Messrs. Wright and
Judge Whipple refused to confirm the sale at this
figure, and Wofford. The Gaston National has a capital of $250,000
a re-sale was decided upon, the Court setting an upset
price and deposits of about VA million dollars. It was established
of $40 per share. There were, however, no bids at
the post- in Feb. 1904 as successor to the banking business of Gaston
poned sale, and the stock has remained in the hands
of the & Ayres. The Commonwealth National began business in
receivers of the Exchange Bank. The future of
the Union May 1907. R. C. Ayres, who became President of
Savings & Trust has not been definitely decided
upon, but the institution in January, has been affiliated with it
Mr. Dure is quoted as saying that the institution will
probably since its organization, prior to which he was identified with
be liquidated.
the Gaston National.
—Herman Myers,President of two Savannah
institutions,
—The consolidation of the Anglo-Californian Bank, Ltd.,
namely the National Bank of Savannah and the
Oglethorpe and the London-Paris National Bank of San Francisco,.
Savings & Trust Co., and formerly Mayor of the
city, died went into effect on the 1st inst., the shareholders in London
on the 24th ult. Out of respect to Mr. Myers the
City of the first-named institution having formally ratified the
Council, which had been in session at the City Hall
when merger on March 30. Similar action had been taken by
word of his death was received, immediately
adjourned. the stockholders of the London-Paris National on March 8.
Mr. Myers was born in Bavaria, Germany,in 1847; he
came The new bank operates under the name of the Anglo and
to America as a child, his parents locating in Bath
County, London-Paris National Bank. It has a capital of $4,000,000.
Va. In 1867 Mr. Myers took up his abode in Savanna
h and of which the London-Paris National contributes $2,500,0
00,
became one of the most prominent of its citizens. He
be- and the Anglo-Californian Bank $1,500,000. Under the
came interested in the tobacco trade and was for
years arrangement outlined in a letter to the stockholders of the
President of the Savannah Grocery Co. He was one
of the latter on Feb. 16, it was stated that it was expected
, as the
organizers in 1885 of the National Bank of Savannah
and result of the necessary:valuations,:that the Anglo-Californian
served as its President from the time of its opening
until Bank would contribute assets representing its paid-up
his death. He had been President of the Oglethorpe
Sav- capital plus an amount of reserve approximating £120,000 it
;
ings & Trust Co. since 1904.
was likewise stated that there would be excepted from the
—Representatives of the Alabama, Mississippi and Texas sale an amount of its
assets which it was anticipated would
Bankers' Associations will be in attendance at the annual yield a considerable
surplus per share. In addition the
meeting of the Louisiana Bankers' Association at New Or- shareholders were to
receive a fully paid share of $100 in
leans on May 13 and 14. The three first-named organiza- the consolidated bank
for every two shares in the Anglotions are to hold their yearly sessions in their respective Californian Bank of £20,
of which 210 was paid in. The
States on May 11 and 12, and at the conclusion of their agreement also provided
for an appropriation out of the
deliberations will be the guests of the New Orleans
Clearing- assets sold to the London-Paris National Bank of a fund not
House Association.
exceeding £26,000 to be distributed as compensation among
—The program of the convention of the Texas Bankers' the directors, officers and staff of the Anglo-Ca
lifornian
Association contains among the list of speakers the followin
g: Bank. The Anglo and London-Paris National Bank is
H. P. Hilliard, President of the Central National Bank under the management of the following officers: Sig.
Greeneof St. Louis, who will discuss "Corporations, Their Functions baum, President; H. Fleishhacker, Vice-President and
Relations"; R. D. Gage, Vice-President of the
and
First Manager; Alden Anderson and J. Friedlander, Vice-PresiNational Bank of Fort Worth, whose topic will be "Legisla dents; R. Altschul, Cashier; C. F. Hunt, A. Hochstein
and
tion—Its Tendency and Effect upon the Development of the F. E. Beck, Assistant Cashiers.
State";1Festus J. Wade, President of the Mercantile Trust
—Evan Lewis, who was temporarily placed in charge of
Co. and thelMercantile National Bank of St. Louis, the
the affairs of the Consolidated Bank of Los Angeles,following
subject of whose remarks will be "Texas"; 0. E. Dunlap,
closing of the institution on June 4 1908,.was appointed
President of the Citizens' National Bank of Waxahachie, the
whose remarks will deal with "Taxation—Do the Banks of receiver on March 31. The naming of the receiver had been
Texas Pay Their Just Proportion of Taxes," &c., &c. delayed to await the result of an examination of the bank,
George M. Reynolds, President of the Continental National made by a committee composed of M. S. Hellman, W. H.
Bank of Chicago, and President of the American Bankers' Holiday and J. E. Fishburn, with a view to•taking over the
Association, will be the guest of the Association. The ad- assets for the benefit of the depositors and other creditors.
dresses of welcome will be delivered by Mayor R. B. Rice The report, however, was unfavorable, the committee
and J. E. McAshan, Vice-President of the South Texas stating that it did not deem the assets and securities sufficient
to pay the claims in full.
National Bank of Houston.
• —The change in the name of the Houston National Bank
—The charges against Fred. Dorr, a stock broker of Los
of Houston,'Texas, to the Houston National Exchange Angeles, whose offices were closed last July, were dismissed
,
Bank went into effect on the 29th ult. The bank began on March 24, the plaintiff having, according to the San Franbusiness on that date under a new charter, with its cisco "Chronicle," refused to swear to a new complain
t.
capital increased from $100,000 to $200,000. The manage- The charges, it is understood, alleged the hypothecation of
ment, except for the addition of four new members to the $14,000 of securities left in Mr. Dorr's keeping.
board, continues unchanged. Henry S. Fox, President,
—The conversion of the Crown City Bank of Pasadena,
Joseph F. Meyer and Henry S. Fox Jr., Vice-Presidents, Cal., into the Crown
City National Bank has been effected,
and N. C. Munger,Cashier, constitute the official staff.
the capital of the institution being increased with the change
—The new Commercial National Bank, lately organized
in from $50,000 to $100,000. J. B. Coulston continues as.
Beaumont, Texas, began business on March 20. The insti- President. Albert Mercer is Cashier.
tution has been formed with $150,000 capital, all of which,
—Mr. Mackenzie, New York agent of the Anglo-South
we are advised, has been paid in. A proposition to increase American Bank, Ltd.,
69 Wall St., has received cable
the amount,to $200,000 is being considered. John C. Ward advices from
London that the directors have declared an.
is President; T. W. Garrett and George W. Carroll are Vice- interim
dividend of 4
equal to 9% for the year
IMPORTS AND EXPORTS FOR FEBRUARY.
The Bureau of Statistics at Washington has issued the
statement of the country's foreign trade for February, and
from it and previous statements we have prepared the following interesting summaries:
FOREIGN TRADE MOVEMENT OF THE UNITED STATES.
(In the following tables three ciphers (000) are in all cases omitted.)
1907-08
1908-09
Excess.
Torts, lotions.
Excess.
Exports. Imports.
S
Merchandise.
391,138 356,793 +34,345
July-September__ _ 352,970 276,047 +76,923
591,838 315,087 +276,741
October-December 522,068 317,962 +204.106
84,998 +121,117
206,115
156,684 103,607 +53,077
January
84,753 +83,004
167,757
+7,400
126,036 118,636
February
1,157,758 816,252 +341,506 1,356,848 841,641 +515,207
Total
GOld and Gold In Ore.
15,419
July-September
12,279
October-December
7,865
January
8,861
February
12,020
11,849
3,420
3,576
+3,399
+430
+4,445
+5,285
13,579
5,336
444
1,968
+4,185
9,394
112,536 -107,200
10,799 -10,355
-879
2,847
30,865
+13,559
21,327
135,576 --114,249
9,651
11,432
3,665
3,509
+3,616
+1,624
+877
+1,344
18,752
13,655
4,148
4,109
12,093
11,424
3,622
3,452
+6,659
+2,231
+526
+657
+7,461
28,257
35,718
Total
+ Excess of exports. - Excess of imports.
40,664
30,591
+10,073
Total
44,424
Silver and Silver in Ore.
r.13,267
July-Septembe
13,056
October-December
4,542
January
4,853
February
We subjoin the totals for merchandise, gold and silver for
eight months since July 1 for six years:
Gold.
211erelurrulise.
Eight
Months,
ports.
1908-09 1,157,758
1907-08 1,356,848
1906-07 1,289,21
1905-06 1,198,391
1904-05 1,008,061
1903-04 1,047,94
Excess
Exof
Imports. Exports ports.
$
$
816,25 341,506
1
841,641515,207
932,735356,480
799,957 398,434
728,998 279,062
654,362 393,584
Excess
Exof
Ireports. Exports ports.
44,424 30,865 13,559
21,327 135,576/114249
18,676 99,642 /80,966
21,191 38,370 /17,179
84,385 41,128 43,257
14,335 64,552 /50,217
Excess
of
Imports. Exports
35,718 28,257
40,664 30,591
37,131 27,930
46,384 29,933
32,16916,295
32,032 18,709
7,461
10,073
9,201
16,451
15,873
13,323
f Excess of imports.
Similar totals for the two months since January 1 for six
ears make the following exhibit:
Merchandise.
Two
Months
Exports.
1909 __
1908 -1907 -1906
1905 1904 -
921
THE CHRONICLE
APR. 10 1909.1
Excess
Exof
Dmports. Exports ports.
Gold.
Excess
Exof
I'mports. Exports ports.
$
S
$
$
S
*
*
222,243 60,477 16,726 6,996 9,730 9,395
282,72
169,750204,121 2,412 13'646 al 1 ,234 8,257
373,87
249,593 99,221 3,578 6,601 a3,023 9,611
348,81
312,36
210,754 101,615 14,228 4,686 9,542 13,952
230,468 201,427 29,041 31,622 4,089 27,533 8,401
260,845 171,612 89,233 1,524 13,260a11,930 8,927
Silver.
EXCESS
of
haports. Exports
$
7,174
7,074
7,379
9,167
3,983
4,716
$
2,221
1,183
2,232
4,785
4,418
4,211
a Excess of imports.
In these tables of totals, gold and silver in ore for all years
are given under the heads respectively of gold and silver.
The following shows the merchandise balance for each year
back to 1875:
EXCESS OF MERCHANDISE IMPORTS OR EXPORTS.
2 months ending Feb. 288 months ending Feb. 28Exports $4,802,668
Exports $7,035,155 1875
1875
Exports 23,163,873
Exports 52,742,971 1876
1876
Exports 43,275,516
Exports 156,531,197 1877
1877
Exports 67,066,295
Exports 169,025,994 1878
1878
Fxports 55,348,872
Exports 104,793,927 1879
1879
Exports 16,097,887
Exports 152,618,305 1880
1880
Exports 48,768,418
Exports 210,481,170 1881
1881
Fxports 5,744,434
Exports 71,084,147 1882
1882
Fxports 33,96:3,776
Exports 88,539,245 1883
1883
Fxports 26,215,009
Exports 88,275,090 1884
1884
Exports 50,224,220
Exports 159,572,935 1885
1885
Exports 5,701,800
Exports 50,859,322 1886
1886
Exports 15,203,807
Exports 66,157,377 1887
1887
Imports 5,633,419
Exports 27,939,274 1888
1888
Exports
2,905,317
Exports 30,830,296 1889
1889
Exports 19,207,051
Exports 106,446,689 1890
1890
Exports 29,226,076
Exports 82,052,261 1891
1891
Exports 58,673,653
Exports 214,123,927 1892
1892
Imports 18,299,727
Exports 29,799,441 1893
1893
Exports 45,799,639
Exports 218,061,932 1894
1894
Exports 11,348,817
Exports 01,652,052 1895
1895
Fxports 33,546,216
Exports 61,412,040 1896
1896
Exports 63,181,574
1887
Exports 312,482,849 1897
Exports 99,441,764
Exports 419,593,681 1898
1898
Exports 90,930,374
1899
Exports 410,231,433 1899
Exports 92,293,090
Exports 364,219,897 1900
1900
Exports 115,473,836
491,655,144 1901
1901
Exports
Exports 83,226,224
1902
Exports 379,770,656 1902
Exports 91,781,261
1903
Exports 301,296,303 1903
Exports 89,233,086
1904
Exports 393,584,442 1904
Exports 29,040,876
1905
Fxports 279,061,882 1905
Exports 101,615,207
1906
Exports 398,433,863 1906
Exports 99,220,847
Exports 356,480,012 1907
1007
Fxports 204,121,585
Exports 515,206,781 1908
1908
Exports 60,476,996
Exports 341,505,798 1909
1909
likonetaxifiTominercialgivitsitgetus
some ulterior purpose not known, was also desirous of preventing the crisis from being brought to an end. The suspicion in both cases has been dissipated, firstly, by Baron
von Aehrenthal's acceptance, after modification, of Sir Edward Grey's formula; and, secondly, by the cooperation of
Germany at Belgrade with the other Powers in inducing
Servia to make submission to Austria-Hungary. Therefore,
the hope is now general that we shall have a long period of
repose; that business will improve in every direction; that
quotations will rise, and that, in short, we shall have a year
or two of greater prosperity than Europe has known for a
considerable time.
The great abundance and cheapness -of money strengthens
the hope. It was hardly expected that the Bank of England
would put down its rate of discount this week. It was
known, of course, that it had received so much gold of late
that it would be fully justified in reducing the rate. But
it was thought probable that as the open market will not be
fully supplied until Monday or Tuesday, when the interest
on the national debt is paid, the Bank might put off its action
until next week.
With peace assured and money plentiful and cheap, it is
reasonable to anticipate that business of every kind will grow.
In London, a very great rise has taken place during the week.
Much of it, of course, is due to buying back by "bears," but
there has also been a very large investment, not only British
investment but French investment, and, indeed, Continental
investment of all kinds. The British investment has been
mainly in the highest classes, consols and other Government
securities, Indian securities, foreign government stocks,
colonial government stocks, and so on. The French buying
has been mainly in foreign government stocks, Russian and
Japanese leading. The French demand at present for Japanese bonds is very strong. German buying is not so remarkable. Of course there is a certain amount of German
buying. But for the time being Germany is well supplied
at home with investment stocks, for all the federated governments and the great municipalities have been borrowing
on a large scale, while it is notorious that the Imperial Government and the Prussian Government are about to borrow
heavily. It is generally assumed that the loan will come
out some time this month.
British railway stocks have risen considerably. It is not
easy to make out why there is a large investment in British
railway stocks. Some members of the Stock Exchange contend that the rise is due to buying back by "bears," that the
"bear" selling for a long time has been on an enormous scale,
that prices have been driven down to an entirely unjustified
extent, that they were kept down by the political apprehensions existing, and that now, when peace is at last assured,
the rise had become inevitable. Others, on the other hand,
while admitting that the "bear" account was enormous, and
that the closing of accounts has been on a great scale, yet
maintain that there has been a very considerable investment by the public. In mining shares, again, there has been
a marked improvement, and everything seems to indicate
that the rise is only just beginning.
The India Council offered for tender on Wednesday 60 lacs
of its bills and the applications amounted to nearly 347 lacs,
at prices ranging from is. 3 29-32d. to is. 3 15-16d. per
rupee. Applicants for bills at is. 3 29-32d. and for telegraphic transfers at is. 3 15-16d. per rupee were allotted
about 17% of the amounts applied for.
The following return shows the position of the Bank of
England, the Bank rate of discount, the price of consols,
&c., compared with the last four years:
1909.
March 31.
29,407,050
Circulation
Public deposits_ _ _ _ 19,158,800
44,194,189
Other deposits
Governm't securities 15,312,577
35,597,186
Other securities
Reserve,notes&coin 30,754,040
Coln&bull.,both dep 41,711,090
Prop. reserve to lia4834
p. c.
bilities
p. c.
Bank rate
234
8454
Consols, 234 p. c_ _ _
23 3-16d
Silver
Clean-house returns 263,609,000
1908.
April 1.
28,905,630
15,600,165
43,463,804
13,757,493
34,438,302
29,267,218
39,722,848
1907.
April 3.
£1
28.930,410
13,495,260
44,050,557
15,447,423
36,684,653
23,860,303
34,340.713
1906.
April 4.
£
29,178,635
15,586,446
42,750,451
16,112,580
33,553,741
26,447,174
37,175,809
1905.
April 5.
£
28,760,055
12,797,002
41,830,513
16,443,673
28,571,985
28.434,604
38,744.669
52
4534
41 7-16
4954
234
3;i
5
3
90 15-16
85 13-16
9154
87 13-16
306. 29 11-16d. 25 13-16d.
2554d
283,729,000 198,985,000 284,635,000 345,370,000
The rates for money have been as follows:
March 26.
April 3.
3
254
Bank of England rate
Open Market rate
234
234
Bank bills-60 days
9:116
1 9 61%01 15-16
.
-3 months.. _
14
.
-4 months_ _ _
1 9-16 1%01%
-6 months_ _ _ _
2%02%
2%
-3 months_ _
Trade bills
. 254@254
-4 months_ _ _
234 0254
Interest allowed for deposits
134
1
By joint-stock banks
By discount houses
1
134
At call
154
13(
7 to 14 days
March 10.
3
March 12.
3
254
254
2 3-1602% 2 3-1602%
202 1-16
2 1-160254
1 5-1602 1 15-1602
2%
2%
23403
23403
134
134
134
154
London, Saturday, April 3 1909.
15%
The acceptance by Servia of the formula agreed upon by
The bank rates of discount and open market rates at the
Sir Edward Grey and Baron von Aehrenthal, the favorable chief Continental cities have been as follows:
reception of it by Austria-Hungary and the promise on the
March 6
March 20.
March 13.
March 27.
part of Russia to recognize the annexation of Bosnia and
Bank Open
Bank Open
Bank Open
Bank Open
Rates of
Rate. Market. Rate. Market. Rate. Market. Rate. Market,
Interest al
Herzegovina, have all made a most favorable impression
154
3
3
154
3
3
13-4
134
upon the stock exchanges and bourses of Europe. The Paris
%
25
254
334
234
354
234
334
354
Berlin
234
354
254
334
334
234
254
354
favorable impression has been intensified by the reduction Hamburg
334 2 7-18
334
234
234
334 2 13-16
334
on Thursday of its rate of discount by the Bank of England Frankfort
%
3
1%
3
1%
15-4
3
1%
3
Amsterdam
2%
3
2%
3
2%
3
from 3% to 2%. For a while there was a very general Brussels
2
3
4
4
354
354
334
4
35-4
4
fear all over Europe that Austria-Hungary was intent upon Vienna
534 nom. 534 nom.
534 norn.
534 nom.
3
3
making Servia desperate, so that she should have an excuse St.Petersburg
4%
3
454
434
4543
Madrid
5
5
4
4
4
5
4
5
for occupying the little kingdom, and that Germany, for Copenhagen
922
THE CHRONICLE
The quotations for bullion are reported as follows:
GOLD.
Apr. 1. Mch. 25.1
SILVER.
Apr. 1. Mch. 25.
London Standard.
s. d. f London Standard.
s. d.
5.
d.
Bar gold. fine, az
77 9 'Bar sliver, fine, oz
77 9
_23%
23%
U. S. gold coin, oz
76 4 I " 2 mo. dellvery____23 3-16
76 4
23 3-16
German gold coin, oz
76 4
76 4 ICake silver, 07
25 1-16
24 15-16
French gold coin, oz.- 76 4
76 4 'Mexican dollars
nom.
nom.
76 4
Japanese yen
76 4
Trimmercial and Miscellaneousgyms
...,....___
Auction Sales.
-Among other securities the following, not
regularly dealt in at the Board, were recently sold at auction.
By Messrs. Adrian H. Muller & Son:
Stocks.
Stocks.
2,500 Union Copper M'g Co..
6 Lincoln Trust Co
140
$11 lot
$1 each _
25 J. G. White & Co, Inc, pf 75
-The Bank has purchased £1,922,000 in U S. gold coin this week, and 1,500 Goldfield Fortune Mining
GOLD.
30 Empire State Surety Co_ 98
has also received £213,000 in sovereigns from Egypt; but of this week's arrivals of
Co, $1 each
Bonds.
nearly one million they were only able to secure about £100,000, all the available
250 Inter-Mtn Mg & Indust
$2,000 Bklyn 13 B & West End
balance being taken for Austria. The Bank rate was reduced to 2%% to-day from
Association, $1 each
RR Co 5s, 1933; A & 0734 & int.
3%, at which rate it stood on Jan. 14. Next week we expect £420,700 from South 1,000 Va-Goldf'd M Co, $1 each
$1,500 Union Ferry Co of N Y
Africa. In addition to the movements mentioned above, the Bank has received
& Bklyn 5s, 1920; M & N_93 & Int.
200 Bullfrog Ext Mg Co,$1 ea $42
£159,000 in bars and £10,000 front Australia and £6,000 from Paris in sovereigns durlot $1,000 Bklyn City & Newtown
170 Ballarat Gold Mg Co,$lea
ing the week, and has lost £100,000 also In sovereigns to South America. Arrivals
100 Black Butte Goldfield
RR Co cons 1st Is, 1039;
£34,000; Australia, £25,000; South Africa, £926,000; South America,
New Zealand,
Mining Co, $1 each _
J &J
99% & Int.
£40,000; Bombay. £80,000; West Africa, £13,000; total, £1,118,000. Shipments
4Se
$2,000 Cent Union Gas Co of
150 Palmer Mtn Tunnel Bombay, £52,000.
N Y 5s, 1927; J & J.101 % & int.
Pow Co, $1 each
SILVER.
-The market remains remarkably steady and the price of 23%d.
200 Utah-Nev Cop Co, $1 ea_
$1,000 N Y & East RIv Ferry
Is
within 1-32d. of the average for the whole of March, the highest for the month be400 Wellington Asso pf, 51 ea
Co 1st 5s, 1922; M & N_ 58 & Int.
ing 2334d. and the lowest 23 1-165. The demand has been practically entirely for
100 Windsor Trust Co
$5,000 N Y & Hoboken Ferry
126
China, and this week's shipment there by the German mail amounted to a
Co 5s, 1946; J & D._ _94% & int.
40 St Louis Rocky Mtn & Pac
little
over£250,000. There Is little or no other demand to report, but while China
45 *4 $2,000 Flatbush Water W Co
Co pref
remains
a buyer we look for a fairly steady market. Stocks in London, though lightened by
4 Realty Associates
155
1st 6s, 1911; M & S___ _102 & int.
the China shipment, are still ample, while in Bombay there is a stock of at
1 N Y Society Library
$1.000 Bklyn Heights RR Co
least
5,500 bars. The price in India Is Rs. 59% per 100 total's. Arrivals
5s, 1041; A & o
$126
(free right)
-New
96% & int.
£183,000; South America, £2,500; total,£185,500. Shipmente--Bombay, York,
5 Bank of N Y, N B A_ .. _355% $25,000 Cuban Amer Sugar Co
£11,500;
Port Said, £2,000; Shanghai, £268.500; total, £282,000.
coil tr 10-year Os; A 4c 0_90 & Int.
10 Citizens' Cent Nat Bank_160
$250,000 Alaska Mercantile Co
The following shows the imports of cereal produce into 276,832 3-5 Un'd Rico Mines
Debenture bonds
Co, $1 each
$300 lot
the United Kingdom during the season to date, compared 1,000 King Edward Silver $20,000 $5,000 Ohio Copper Co 6s, 1917 97
$5,000 Bingham Central By 1st
Mines, $5 each_ _ _ _
lot
with previous seasons:
$55.000 United Rico Mines
40-year Os; AI & N
04 A
IMPORTS.
Co 6s, 1918
Thirty weeks.
1908-09.
1907-08.
1906-07.
1905-06.
Imports of wheat
cwt..48,948,100 53,694,900 47,038,100 45,547,300
Barley
14,950,900 16,381,800 15,009,300 15,077,200
BANK NOTES
-CHANGES IN TOTALS OF, AND IN
Oats
7,430,500 6,523,200 6,379,000 7,293,200 DEPOSITED
BONDS, &c.
-We give below tables which
Peas
845,190
1,105,170
1,175,190
1,158,445
Beans
918,410
751,320
597,400
496,870 show all the monthly changes in bank notes and in bonds
Indian corn
21,279,800 26,351,900 29,663,100 28,233,800
and legal tenders on deposit. The statement for March
Flour
7,285,600 9,267,100
8,090,800 9,241,200
Messrs. Pixley & Abell write as follows under date of
April 1:
Supplies available for consumption (exclusive of stock on 1908 will be found in our issue for April 25 1908, page 1021.
September 1):
1908-09.
1907-08
1906-07.
1905-06.
ewt_48,948,100 53,694,900 47,038,100 45,547,300
7,285,600 9,267,100 8,090,800 9,241,200
21,730,512 22,841,582 18,114,734 22,690,218
Wheat imported
Imports of flour
Sales of home-grown
Total
Average price wheat, week
Average price, season.
77,970,212 85,803,582 73,243,634 77,484,718
36s. Od.
31s. 4d.
265. 105.
28s. 4d.
325. 75.
338. 75.
265. 9d,
288. Id.
The following shows the quantities of wheat, flour and
maize afloat to the United Kingdom:
This week. Last week.
qrs. 3,830,000
4,245,000
175,000
qrs
125,000
310,000
qrs_
265,000
Wheat
Flour, equal to
Maize
1908.
4,015,000
210,000
165,000
1907.
3,945,000
190,000
460,000
The British imports since Jan. 1 have been as follows:
1909.
£
53,511,359
50,468,197
Two months
1908.
£
56,363,379
52,428,122
103,970,556
ImportsJanuary
February
108,791,501
Difference. Per Ct.
£
-2,852,020 -5.1
-1,959,925 -3.7
-4,811,945
The exports since Jan. 1 have been as follows:
1909.
Il
1908.
Derence.
-4.1
X
28,803,046
28,024,452
Two months
£
34,407,767
31,949,519
Per Ct.
£
-5,604,721 -16.3
-3,925,062 -12.3
56,827,498
ExportsJanuary
February
66,357,281
-9,529,783 -14.4
Bonds and Legal-Tenders
on Deposit for
Bank Circulation.
Bonds.
Mch. 31_ _
Feb. 28....
Jan. 30......
Dec. 31.......
Nov. 30....
Oct. 31.....
Sept. 30......
Aug. 31...
July 31--- June 30-May 29--April 30--- -
LegalTenders.
Bonds.
LegalTenders.
Total.
651,267,130
640,769,140
635,214,560
631,318,790
618,497,940
632,624,850
632,871,890
631.607,490
629,432,420
628,147,130
629,031,160
628.839.430
42,696,715
42,696,715
46,363,455
48,281,960
52,270,912
39,005,637
48,639,442
59,339,115
66,728,009
75.083,400
73.735,370
72.220,323
646,142.390
635,588,885
630,309,637
628,786,205
614,907,265
626,779,350
026,972,885
625.986,993
626,360,1g42
623,250,517
624,714,147
625,425,375
38,265,225
42,696,715
46,363.455
48,281,960
52,270,912
39,065,637
98,639,442
59,339,115
69,128,009
75,083,400
73.735,370
72,220,323
084,407,615
678,285,600
076,673,092
677,068,165
667,178,177
665,844,087
675,012,327
685,326.108
692,088,991
698.333.017
698,449,517
697,045,698
The following shows the amount of each class of bonds
held against national bank circulation and to secure public
moneys in national bank depositories on March 31.
U. S. Bonds Held Mch. 31 to Secure
Bonds on Deposit
March 31 1909.
The re-exports of foreign and colonial produce since Jan. 1
show the following contrast:
Re-exportsJanuary
February
1909.
£
6,687,551
8,437,634
1908.
£
6,599,209
7,497,673
Two months
15,161,185
14,096,882
Difference. Per CI.
£
+88,342
+1.0
+975,961 +13.0
+1,064,303
+7.5
Note.
-The aggregate figures are official. They indicate that slight adjustments
have been made In the monthly returns as issued.
English Financial Markets-Per Cable.
The daily closing quotations for securities, &c., at London,
as reported by cable, have been as follows the past week:
London.
Week muting April 9.
Sat.
Mon.
Silver, per oz
d 237-16 23%
Consols, new. 2% per oents_ 84-11-16 85
For account
84 13-16 85 1-16
French Rentes tin Paris).fr. 98.30
98.15
Amalgamated Copper Co__ 75%
77%
C Anaconda Mining Co
9%
9
Atchison Topeka &Santa Fe.109
111%
Preferred
107
106%
Baltimore & Ohio
115%
114%
Preferred
96%
9634
Canadian Pacific
180%
178%
Chesapeake & Ohio
71%
73
Chicago Great Western
5
5%
Chicago Milw. & St. Paul
152%
154
Denver & Rio Grande
49%
8%
Preferred
90%
89%
Erie
30%
29%
First Preferred
46
47 .
Second Preferred
35%
35%
Illinois Central
149%
149%
Louisville & Nashville
136%
138
Mexican Central _
24
2434
Missouri Kansas et Texas
42%
43%
Preferred
75%
7534
National RR. of Mexico_ .. _ _ 45
45
N.Y.Central a. Hudson Itiv.133
134%
N. Y. Ontario & Western... 47%
48%t
Norfolk & Western
93
92%
Preferred
88
88
Northern Pacific
150
148
aPennsylvania
68%
69
aReading Company
69%
68%
aFirst Preferred
46
46
aSecond Preferred
47%
4734
Rock Island
25
25
Southern Pacific
123%
124%
Southern Railway
26
27
Preferred
65%
6634
Union Pacific
189%
192%
Preferred
97%
9734
U. S. Steel Corporation
51%
50%
116
Preferred
116%
Wabash
18%
19
preferred
47%
48%
75
Extended 9s
7534
a Price per share.
b .£ sterling.
Tues.
23%
85%
85 5-16
97.90
78%
9%
110%
107
116
97%
180%
73
5
155%
50
90%
30%
46M
36%
12 1
3
4
110%
107
115%
97%
1803
74%,
5
154%
50
90%
30
46%
36%
110
8
24
43%
76X
45%
134%
4844
92%
88
151%
69%
70
46
47%
25%
124%
26%
66%
193%
9734
52
116%
19
49
7534
25
43
76
46
133
48%
9334
88
150%
69
70
46
47%
25%
124%
26%
66
192%
97%
51%
116%
19
48%
7534
Wed.
237-16
85%
85 5-16
97.87%
78
9%
Thurs.
237-16
85 9-16
85%
97.87%
78%
0%
109%
106%
115
98
180%
75%
5
153%
50
90%
30%
46M
36%
150
138%
25
42%
76
47%
133%
48
9334
88
150%
69
70%
46
47%
25%
124%
27
66%
19334
9734
52
116%
19
48%
75
PH.
Circulation Afloat Under
1908-09
28, Panama Canal, 1916-36
4s, Loan of 1925
3s, Loan 01 1908-18
28, Consols 1930
2s, Panama Canal, 1918-38
3.65s, District of Columbia, 1924
State, city and railroad bonds
Hawaiian Island bonds
Philippine loan
Porto Rico
Total April 1 1909
PublicDeposits
Bank
in Banks.
Circulation.
Total
Held.
$
44,792,680
12,932,050
13,077,620
559,182,400
20,382,380
$
6,371,000
4,746,700
5,080,700
36,278,300
1,573,000
1,635,000
19,533,921
064,000
5,784.000
430,000
$
51,163,680
17,678,750
19,058,320
595,460,700
21,055,380
1,635,000
19,533,921
964,000
5,784,000
430,000
651.267,130
82,396,621
733,663,751
The following shows the amount of national bank notes
afloat and the amount of legal-tender deposits Mch. 1 and
April 1 and their increase or decrease during the month of
March.
National Bank Notes
-Total Afloat
Amount afloat March 1 1909
Amount issued during March
Amount retired during March
$678,285,660
$10,553,505
4,431,490 6,122,015
Amount of bank notes afloat April 1 1900
Legal-tender Notes
Amount on deposit to redeem national bank notes March 1 1909
Amount of bank notes redeemed in March
Amount on depoeit to redeem national bank notes April 1 1909
$684,407,675
$42,696,715
4,431,490
$38,265,225
STOCK OF MONEY IN THE COUNTRY.
-The-following
table shows the general stock of money in the country as well
as the holdings by the Treasury, and the amount in circulation, on the dates given. The statement for April 1 1908 will
be found in our issue of April 18 1908, page 959.
Stock of Money April 1 1909 -Money in Circulation
Held in
In United
April 1
April 1
Treasury.d
States.
1908.
1009.
$
$
$
$
Gold coin and bullion---*1,645,422,056 192,511,528 608,292,659 629,732,705
Gold certificates_a
47,661,660 796,956,209 808,340,829
Standard silver dollars.... 563,861,812
8,814,297
83,596,986
71,682,515
Silver certifIcates_a
6,607,037 476,757,963 438,181,217
Subsidiary silver
153,845,035 25,957,101 127,887,934 126,034,150
Treasury notes of 1890_ _ _ _
4,398,000
11,193
4,386,807
5,225,744
United States notes
346,681,016
7,552,169 339,128,847 333,513,309
National bank notes
684,407,615 22,816,033 661,591,582 655,825,794
Total
3 398,615,534 311,931,018 3,086,684,516 3,080,450,734
Population of the United States April 1 1909 estimated at 88,567,000; circulation
per capita, $34 85.
* A revised estimate by the Director of the Mint of the stock of gold coin was
adopted in the statement for Aug. 11907. There was a reduction of $135,000,000.
a For redemption of outstanding certificates an exact equivalent in amount of
the appropriate kinds of money is held in the Treasury, and is not included in the
account of money held as assets of the Government.
d This statement of money held in the Treasury as assets of the Government
does not include deposits of public money In national bank depositaries to the
credit of the Treasurer of the United States, amounting to 858,132,737 28.
APR. 10 _009.1
THE CHRONICLE
National Banks.
-The following information regarding
national banks is from the office of the Comptroller of the
Currency, Treasury Department.
APPLICATIONS TO CONVERT INTO NATIONAL BANKS
APPROVED.
The Commercial Bank of Merced, California, into "The First National
Bank of Merced." Capital. $100,000.
The Bank of Spring City, Tennessee, Into "The First National Bank
of Spring City." Capital, $25,000.
The Mott State Bank , Mott, North Dakota, into "The First National
Bank of Mott." Capital, $25,000.
923
Books Closed.
Days Inclusive.
Per
When
Cent. Payable.
Name of Company.
Miscellaneous-Concluded
Nova Scotia Steel & Coal, Ltd., pfd.(qu.) 2 1Apr11 15 April 1 to April 5
Otis Elevator, common
l4dJ April 15 April 1 to April 15
Preferred
134 Aprii 15 April 1 to April 15'
Pacific Coast Co., common (quar)
1
IMay
1 pril 18 to May 2
First preferred (quay.)
131 May
1 April 18 to May 2
Second preferred (guar.)
1
1 pril 18 to May 112
May
Pennsylvania Salt Mfg.(No. 92)
April 15 Holders of rec. Mch. 22
6
Procter & Gamble, pref. (guar.)
2
FApriL 15 Holders of rec. Mch.31a
Pullman Co. (guar.) (No. 169)
May 15 May 1 to May 15
2
Quaker Oats, common (quar)
1% April 15 Holders of roe. April 5
Common (extra)
% April 15 Holders of rec. April 5
Realty Associates (No. 12)
3
pril 15 Holders of rec. April 5
Reece Buttonhole Mach. (guar.)(No. 92) 2
April. 15 Holders of rec. April 5
Rhode Island-PerkinsHorseshoe, pt.(qu.) 1
April 15 Holders of rec. April 1
Shawinigan Water & Power (guar.)
1
April 20 Holders of rec. April 7
Standard Milling, preferred (No. 12)
1% April 15 April 4 to April 15
Preferred (extra)
% April 15 pril 4 to April 15
Standard Underground Cable (guar.)
3
April 10 April 6 to AprIl 10
Street's West. Stable Car Line, corn.(go.)
% April 26 April 11 to April 27
Thompson-Starrett preferred
4
may lb Holders of rec. May 10
Union Bag & Paper, pref. (guar.)
1
April 15 Mch. 16 to April 15
Un. Switch & Signal, com.&pret. (guar.) 3
April 10 AprIl 1 to April 10
United Cigar Mfrs., corn. (guar.)(No. 2)_
1
May
1 April 27 to April 30
United Fruit (guar.)
2
April 15 Holders of rec. Mch. 26
United Gas Improvement (guar.)
2
April 15 Holders of rec. Mch. 31
U.S. Smelt., Ref. & Mining, corn.(quay.) 1
April 15 olders of rec. Mch. 31
Preferred (quar.)
1% April 15 Holders of rec. Itch. 31
U. S. Rubber, first pref. (guar.)
2
April 30 Holders of rec. Apr. 15a
Second preferred
1% April 30 Holders of rec. Aprill5a
Vulcan Detinning, pref. (quar.)
134 April 20 Holders of rec. April 10
VIrginia-Carolina Chem., pref. (guar.) 2
April 15 April 1 to April 15
Western Union Telegraph (guar.) •
X April 15 Holders of rec. Mch. 20
Westinghouse Air Brake (guar.)
2% April 10 April 2 to April 10
NATIONAL BANKS ORGANIZED.
Certificates Issued March 30 to April 3.
9,372-The First National Bank of Monroe, Washington. Capital, $25,000.
E. M. Stephens, President; A. J. Agnew, Vice-President; W. E.
Waddell, Cashier. Conversion of the Monroe State Bank.
9,373-The First National Bank of Prairie View, Kansas. Capital, $25,000.
J. J. Wiltrout, President; John Jeurink and Martin Kistner, VicePresidents; J. S. Garberson, Cashier; L. M. Garberson and D. A.
De Young, Assistant Cashiers.
9,374-American Exchange National Bank of Duluth, Minnesota. Capital
$500,000. H. M. Peyton, President; Chester A. Congdon, Vice
President; W.G. IIegardt, Cashier; I. S. Moore, Assistant Cashier;
Colin Thomson, Second Assistant Cashier. Conversion of the
American Exchange Bank of Duluth.
9,375
-The Buchanan National Bank, Buchanan, Virginia. Capital,
$25,000. L. P. Dillon, President; S. L. Heck, Vice-President.
9,376-The First National Bank of Selby,South Dakota. Capital, $30,000.
John F. Gutz, President; Geo. M. Mickelson, Vice-Presiednt; H. P.
Guts, Cashier; C. A. Potter, Assistant Cashier.
9,377
-The Gregory National Bank, Gregory, South Dakota. Capital,
$50,000. Harvey L. Miliay, President; Fred, H. Von Seggern,
Vice-President; Joy M. Hackler, Cashier; Thomas Cowger and W. A.
P. Zutz, Assistant Cashiers.
a Transfer books not closed.
it 3% declared. 134% payable April 15 and
•
VOLUNTARY LIQUIDATIONS.
134% payable Oct 15.
7,962-The First National Bank of Colbert, Oklahoma. March 25 1909.
3,317
-The Boyle National Bank of Danville, Ky., March 31 1909.
4,014-The National Bank of Forney, Texas, March 31 1909.
Imports and Exports for the Week.
-The following are
915
-The First National Bank of Shawneetown, Illinois, March 31 1909,
DIVIDENDS.
The following shows all the dividends announced for the
future by large or important corporations:
Dividends announced this week are printed in italics.
Name of Company.
Per
When
Cent. Payable.
Books Closed,
Days Inclusive.
Railroads (Steam).
Atchison Topeka & Santa Fe, common_ _ _ _ 2% June
1 Holders of rec. April 30
Atlantic Coast Line RR
2% May 10 April 29 to May 10
Cloy. Cinc. Chic. & St. L., pref. (guar.) 134 April 20 Holders of rec. Itch. 26
Delaware Lackawanna & Western (guar.) 234 April 20 Holders of rec. April 3
Grand Trunk Ry.Guaranteed stock
2
April.
First preferred
5
April.
Second preferred
ni April.
Great Northern (quarterly)
134 May
1 Holders of rec. April 10
Kansas City Southern, pref. (guar.)
1
April 15 Holders of rec. Itch. 31
Keokuk de Des Moines, preferred
May
I
1 Holders of ree. April 23
Minn. St. P. & S. S. M., corn.(No. 12)._ 3
April 15 Holders of rec. Itch. 26
Preferred (No. 12)
31,4 April 15 Holders of rec. Mch. 26
Missouri Kansas ,t Texas, preferre
2
May 10 April 21 to May 9
N. Y. Central & Hudson River (guar.)._
134 April 15 Itch. 27 to April 21
Northern Pacific (guar.)
1% May
1 Holders of rec. April 12
Reading Company, 2d preferred
2
May 10 Holders of rec. April 22
Toledo St. Louis & Western, preferred 2
April 15 Holders of rec. Itch. 31
Street and Electric Railways,
Aurora Elgin & Chic. RR., corn. (guar.).
% April 10 Itch. 24 to AprIl 10
1X April If) Mch. 24 to April 10
Preferred (guar.)
2% April 15 April 2 to April 15
Brooklyn City RR. (guar.)
Cape Breton Electric, Ltd.. pref. (No. 0_ $3 May
1 Holders of rec. April 15
% April 15 April 1 to April 15
CM. Newport & Covington, corn.(quar.)
1% April 15 April 1 to April 15
Preferred
,
East S. Lasts &Sub., pref.(qua?)
1 Holders of rec. April 15
134 May
Milw.Elec.fly. & Lt., pref.(quar )(No.38) 1% April 30 Holders of rec. April 20
2% May
Montreal Street fly. (guar.)
1 Holders of rec. April 10
Philadelphia Company, corn. (guar.).
1 IIolders of rec. April 1
- 1% May
Rink s.
3
April 15 April 7 to April 15
New York Produce Exchange.
1
AprIl 15 April 7 to April 15
Extra
Trust Companies,
2
May
Nassau, Brooklyn(quar.)
1 April 28 to May 2
Fire Insurance.
5
April 10 April 3 to April 9
North River
Miscellaneous.
April 15 Itch. 16 to Mch. 31
American Agricultural Chemical, pref._ 3
April 20 April 16 to April 20
American Chicle, common (monthly)._ _ _ 1
May
1 AprIl 21 to April 30
American Light cfc Traction, corn. (guar.). 2
134 May
1 April 21 to April 30
Preferred (guar.)
American Locomotive, pref. (guar.)._
134 April 21 April 6 to April 21
$1.56 May
1 April 16 to May 2
American Malting, preferred
American Malt Corporation, preferred._ 234 May 3 Holders of rec. April 15
April 15 Mch. 27 to April 1
Am. Smelt. & Ref., corn. (guar.)(No.22) 1
2
April 15 Holders of rec. Mcb. 31
American Teleph. & Teleg. (quar.)April 15 Holders of rec. April 10
Amer. Typefounders', common (guar.).- 1
April 15 Holders of rec. April 10
Preferred (guar.)
Amer. Woolen, pref. (quar.) (No. 40).... 134 April 15 Mch. 27 to April 5
AnacondaCopper Mining (qu.)(No. 34). 50e. April 14 Holders of rec. April 3
Associated Merchants, first pref. (guar.). 134 April 15 April 1 to April 22
X April 15 April 1 to April 22
First preferred, extra
Second preferred (guar.)
134 April 15 April 1 to April 22
Second preferred, extra
X April 15 April 1 to April 22
Bell Telephone of Canada (guar.)
April 15 Holders of rec.
2
Bell Telephone of Pennsylvania (guar.)._
134 April 15 April 6 to Itch. 21
April 15
British-Canadian Asbestos, Ltd. (guar.). 134 April 27 Holders of rec. April 20
Central Coal & Coke, common (quar.)... 134 April 15 April 1 to April 17
Preferred (guar.)
134 April 15 April 1 to April 17
Central Dist. & Print. Tel. (Qua?.)
April 30 Apri124 to
2
April 30
Century Realty
April 15 Holders of rec. April 12
3
April 15 April 8 to April 15
Clallin (II. B.), common (guar.)
.2
Consolidated Ice, Pittsburgh, pref. (qu.)._ _ 134 April 20
April 10 Holders of rec. Itch. 31
Corn Products Refining, pref. (guar.)._ I
Preferred (extra)
April 10 Holders of rec. Mch. 31
1
Distillers' Secur. Corp. (guar.) (No. 26).
% April 30 Holders of rec. AprillOa
du Pont(E.I.)de Nemours Powd.,pf.(gu.) 14 April 26 Holders of rec. April 15
131 May
Electric Bond & Share, pref.(guar.)
1 April 17 to May 2
2
General Electric (Otter.)
April 15 Holdersof ree. Itch. 5a
Harbison-Walker Refractories, pref.(guar.) 1% April 20 Holders of rec. April 10
Int. Buttonhole Sew. Mach.(qu.)(No.46) 115Holdersof rec. April 6
AprIl
International Nickel, pref.(quar.)
134 May 1 Ap ill 11 to May 2
International Paper, preferred (guar.)._
3.6 April 15 Holders of rec. April 6a
Internat. Steam Pump, pf. (qu.)(No. 40)_ 1% May
1 April 21 to May 11
3
La Rose Consolidated Mines (guar.)
April 20 April 2 to April 26
1
Extra
April 20 April 2 to April 26
Massachusetts Lighting Cos (quar.)--- 134 April 15 Holdersof rec. April 1
Mexican Light & Power, Ltd. (guar.)._ 1
April 15 April 9 to April 15
23 April 14 Holders of rec. Mch. 31
;
Mexican Telegraph (quar.)
Michigan State Telephone. Pref. (guar.). 134 May
1 April 18 to May 2
Nat. Biscuit, corn. (quar.) (No. 42).... 134 April 15 Holders of rec. Mch 29a
New England Teleph. & Teleg. (quar.)..
April 15 Holders of reo. Mch.31a
13( April 15
N. Y. & N.J. Telephone (qu.)(No. 102)
2
New York Dock, preferred
AprIl 15 Holders of rec. April 1
Nipissing Mines (quar.)
3
April 20 April 1 to April 26
2
Extra
April 20 April 1 to April 26
the imports at New York for the week ending April 3; also
totals since the beginning of the first week in January:
FOREIGN IMPORTS AT NEW YORK.
For Week.
1909.
Dry Goods
General Merchandise
.
$3,347,7h
)3,4I2, 8
Total
Since January 1.
Dry Goods
General Merchandise
Total 13 weeks
1908.
1907.
$2,052,326
8,866,237
1906.
$3,712,580
14,161,340
$3,518,250
12,047,066
$16.760,6,6 $10,918,563 $17,873,920 $15,565,316
348,142,60. $36,423,136 $53,824,669 $46,958,319
,
173,267,781 113,245,701 188,639,128 149,004,830
$221,410,385 $149,668,837 $242,463,797 $195,963,149
The following is a statement of the exports (exclusive of
specie) from the port of New York to foreign ports for the
week ending April 3 and from Jan. 1 to date:
EXPORTS FROM NEW YORK FOR THE WEEK.
1909.
1908.
I
1907.
1906.
For the week
Previously reported
$12,854,186 $13,419,005 $13,973,573 $11,854,495
149,645,836 173,585,197 156,343,966 149,958,475
Total 13 weeks
$162,500,022 $187,004,202 $170,317,539 $161,812,970
The following table shows the exports and imports of
specie at the Port of New York for the week ending April 3
and since Jan. 1 1909, and for the corresponding periods
in 1908 and 1907:
EXPORTS AND IMPORTS OF SPECIE AT NEW YORK.
Exports.
Imports.
Gold.
Week.
$13,169
1,862,615
2,000
$544,000 16,615,000
20,095
Total 1909
Total 1908
Total 1907
Week.
$13,941,020
5,420,000
Great Britain
France
Germany
West Indies
Mexico
South America
All other countries
StnceJan.l.
5,805
346
32,672
26,600
StnceJan.l.
$78,024
2,097,295
350
179,244
131,043
831,707
669,581
$544,000 $37,860,730
$78,592 $3,987,244
858,900
48,205
485,200 8,720,394
34,410 1,741,336 1,557,969 4,547,956
Silver.
Great Britain
France
Germany
West Indies
Mexico
South America
All other countries
$617,600 $10,488,534
188,950 1,416,350
$7,750
14,530
1,500
38,771
17.333
45,102
741
26,181
Total 1909
Total 1908
Total 1907
8806,560 $11,946,336
885,883 10,692,579
663,515 11,115,623
$77,215
2,698
5,764
23,398
608,666
316,093
217,250
$110,456 81,251,084
22,205
943,922
620,638
40,610
Of the above imports for the week in 1909, $5,780 were
American gold coin and $1,500 American silver coin. Of
the exports during the same time, $544,000 were American gold coin and $__-- were American silver coin.
Boston and Philadelphia Banks.
-Below is a summary of
the weekly totals of the Clearing-House banks of Boston and
Philadelphia.
We omit two ciphers (00)in all these figures
Banks
Boston.
Mch. 13_.
Mch.20_
Mch.27..
Aprl 3__
Phila.
Itch. 13._
Mch.20__
Mch. 27._
Apr I 3_
Capital
and
Surplus.
Loans
$
41,790,0
41,790,0
41,790,0
41,790,0
$
200,480.0
198,595,0
205,517,0
207,761,0
54,390,0
54,390,0
54,390,0
54,390,0
258,589,0
257,947,0
258,437,0
259,734,0
Specie.
Legals. Deposits. a Ctrculotion.
$
22,238.0
24,330,0
23,757,0
22,937,0
$
3,197,0
3,259,0
3,328,0
3,293,0
71,884,0
72,756,0
72,859,0
73,466,0
$
243,593,0
249,414,0
255,616,0
264,941,0
Creartrkli.
$
7,899,0
7,593,0
7,604,0
7,651,0
$
138,699,1
151,145,6
145,4365
177,560,5
302,076,0 15,613,0
302,265,0 15,721,0
300,507,0 15,706,0
304,803,0 15,723,0
114,646.8
114,618,1
107,817,7
133,467,6
a Including Government deposits and the Item "due to other banks." At Boston
Government deposits amounted to$754,000 on April 3, against $736,000 on Mch. 27.
NEW YORK CITY BANKS AND TRUST COMPANIES.
-The
Statement of New York City Clearing-House Banks.
detailed statement below shows the condition of the New
York Clearing-House banks for the week ending April 3.
We (nntt two ciphers (00) In all cases.
Banks.
00s omitted.
Bank of N. Manhattan Co_
Merchants' _
Mechanics' --America
Phenix
City
___
Chemical
Merchants' Ex _
Gallatin
Butch. & Drov.
__
Greenwich
Amer. Exch.__
Commerce
Mercal _
Pacific
Chatham __ _
Peoples'
Hanover
Citizens' Cent._
Nassau
Market& Fult'n
Metropolitan _ _
Corn Exchange.
Imp. & Traders'
Park
East River_
Fourth
Second
First
Irving Exch_
Bowery -- --- N. Y. County_..
German-Amer _
Chase
Fifth Avenue_
German Exch.._
Germania
Lincoln
Garfield
Fifth
Metropolis _ _
West Side
•Seaboard
Liberty
N.Y.Prod. Ex.
State •
14th Street_ Copper
Capital. Surplus.
Specie. Legals. Deposits. ReLoans.
Average. Average. Average. Average. s've.
$
°to
$
$
3,305,6 19,884,0 3,391,0 1,294,0 18,001,0 26.0
3,489,3 36,500,0 10,278,0 1,702,0 44,400,0 27.0
1,588,2 21,684,0 4,205,0 2,066,0 23,909,0 26.4
3,715,8 32,498,0 7,916,0 1,414,0 35,300,0 23.6
5,114,5 30,551,7 6,182.5 3,073,9 34,386,8 26.9
633,1
8,960,0 2,723,0 1,004,0 10,264,0 37.2
26,218,2 185,257,2 38,436,6 7,703,0 181,634,7 25.4
5,887,0 28,754,5 4,782,7 2,312,8 27,755,8 25.5
723,6
8,107,4 25.2
7,555,3 1,319,4
523,1
739,2
8,008,0 26.0
9,828,4 1,341,0
2,429,3
2,129,6 24.6
146,1
147,7
2,362,8
377,4
8,749,1 25.1
200,0
7,861,1 2,003,3
750,0
5,163,1 29,480,3 4,035,9 1,739,3 22,423.3 26.0
15,394,4 166,526,1 27.753,5 11,716,8 152.408,5 25.9
9,511,4 25.9
902,1
2,483,3 13,150,1 1,558,9
302,3
854,4
613,0
3,841,4
3,555,8 25.7
7,444,2 1,104,8 1,020,9
1,002,2
8,086,9 26.2
464,4
2,029,3
500,0
86,9
2,179,1 26.9
10,384,0 70,297,6 15,905,4 6,401,3 84,484,6 20.4
320,2 22,397,7 26.4
1,416,6 22,234,0 5,596,1
533,4
5,561,9
6,054,7 24.8
423,7
069,8
7,993,6 1,297,5 1,613,6
8,872,8 32.8
1,607,3
146,8 10,733,7 26.7
1,312,7 10,705,1 2,723,8
5,275,5 43,964,0 6,972,0 5,121,0 50,868,0 23.7
7,345,8 26,014,0 4,551,0 1,696,0 24,613,0 25.3
9,568,9 90,154,6 24,610,8 1,422,0 103,116,7 25.2
1,328,1
227,9
100,1
151,9
1,491,5 25.4
3,319,9 26,250,0 4,912,0 2,261,0 27,625,0 25.9
326,0 11,802,0 25.5
1,747,0 11,228,0 2,686,0
18,368,6 115,808,5 30,268,9 1,845,1 115,128,2 27.9
1,409,5 19,861,6 4,073,6 1,464,4 21,147,3 26.2
69,0
767,0
787,1
3,391,0 24.6
3,168,1
666,3
8,425,9 24.4
7,975,9 1,332,7
1,285,6
212,1
4,114,7 26.2
866,9
648,9
4,157,5
5,931,0 82,852,5 18,872,7 4,554,7 92,910,2 25.2
2,16.5,6 13,254,2 2,808,5 1,038,7 14,695,4 26.1
480,3
3,780,3 23.1
395,9
872,3
3,500,7
590,9
5,517,1 25.7
822,3
1,001,3
4,753,3
1,309,5 15,446,3 3,064,5 1,133,7 16,632,9 25.2
420,2
7,925,1 27.1
7,747,3 1,730,2
1,135,1
389,0
3,335,8 23.3
3,246,2
338,7
462,0
767,8 2,157,2 11,016,4 26.5
2,023,2 11,003,5
226,0
5,050,0 25.4
4,542,0 1,058,0
1,051,6
1,682,2 20,520,0 4,421,0 2,145,0 24,682,0 26.6
512,5 17,019,0 25.8
2,505,2 17,215,2 3,872,0
238,5
8,558,8 26.4
7,191,8 2,024,8
696,6
252,0 14,502,0 26.1
786,5 11,646,0 3,535,0
478,5
5,755,4 25.7
5,130.8 1,004,8
315,8
804,0 10.421,1 25.2
2,596,3 20,001,0 4,102,6
2,000,0
2,050,0
2,000,0
3,000,0
1,500,0
1,000,0
25,000,0
3,000,0
600,0
1,000,0
300,0
500,0
5,000,0
25,000,0
3,000,0
500,0
450,0
200,0
3,000,0
2,350,0
530,0
1,000,0
2,000,0
3,000,0
1,500,0
3,000,0
250,0
3,000,0
1,000,0
10,000.0
2,000,0
250,0
500,0
750,0
5,000,0
100,0
200,0
200,0
1,000,0
1,000,0
230,0
1,000,0
^00,0
1,000,0
1,000,0
1,000,0
1,000,0
1,000,0
2,000,0
Totals, Average 126,350,0 168,697,4 1309,522,2 274,405,1 78,572,9 1355,968,7 26.0
Actual figures
1311,955,0 272,138,9 76,715,9 1353,409,0 25.8
April 3
On the basis ot averages, circulation amounted to $48,713,600 and United States
deposits (included in deposits) to $2,334,900; actual figures April 3, circulation
$49,025,300; United States deposits, $2,368,100.
The State Banking Department also now furnishes weekly
returns of the State banks and trust companies under its
charge. These returns cover all the institutions of this class
in the whole State, but the figures are compiled so as to
distinguish between the results for New York City (Greater
New York) and those for the rest of the State, as per the
following:
STATE BANKS AND TRUST COMPANIES.
Week ended April 3
State Banks
Trust Cos
Trust Cos.
State Banks
outside of
in
outside of
in
Greater N. Y. Greater N. Y. Greater N. Y Greater N. F.
Loans and investments _ _
Change from last week
297,217,800
+2,382,600
993,f17,600
+4,746,900
Specie
Change from last week_
49,087,600
+396,600
Legal-tend's & bk. notes_
Change from last week_
26,185,900
-1,191,000
346,225,700 1,129,861,900
+2,217,700 +19,103,700
128142,900
+365,300
86,475,800
+70,400
137,735,200
+661,200
11,483,900
-665,000
Deposits
Change from last week_
3
81,575,400
-159,500
122,249,200
+1,131.400
Reserve on deposits
Change from last week_
95,454,100
+43,100
142,433,700
+817,000
18,638,000
-12,500
21,060,100
+160,100
P. C. reserve to deposits..
Percentage last week_ _ _ _
28.1%
28.3%
17.8%
17.9%
22.2%
22.2%
15.8%
15.7%
+Increase over last week. -Decrease from last week.
-"Reserve on deposits" includes, for both trust companies and State banks,
Note.
not only cash items but amounts due from reserve agents. Trust companies in New
York State are required by law to keep a reserve proportionate to their deposits,
the ratio varying according to location as shown below. The percentage of reserve required is computed on the aggregate of deposits, exclusive of moneys held
in trust and not payable within thirty days, and aiso exclusive of time deposits not
Payable within 30 days, represented by certificates, and also exclusive of deposits
secured by bonds of the State of New York, The State Banks are likewise required
to keep a reserve varying according to location, but in this case the reserve is computed on the whole amount of deposits, exclusive of deposits secured by bonds of
the State of New York.
-Trust Co's- -State Banks
Reserve Required for Trust Companies
Of
Total
Total
and State Banks
Of
Reserve which Reserve
which
Required. in Cash. Required. in Cash
Location15%
15%
25%
Manhattan Borough
15%
10%
20%
Brooklyn Borough (without branches in Manhat.)15%
10%
15%
10%
Other Boroughs(without branches in Manhattan).15%
73. %
15%
15%
25%
Is%
Any Borough with branches in Manhattan
10%
Elsewhere in State
6%
5%
15%
Department also undertakes to present
the totals for the State banks and
trust companies in the Greater New York not in the Clearing
House. These figures are shown in the table below, as are
also the results (both actual and average) for the ClearingHouse banks. In addition, we have combined each corresponding item in the two statements, thus affording an aggre•ote for the whole of the banks and trust companies in the
The
[voL. Lxxxviii
THE CHRONICLE
924
Banking
Clear.-House Clear.-House State Banks & Total of all
Banks
Trust Cos not Bankscre Trust
Banks
Average. in C.
-II Aver. Cos. Average.
ActualFigures
Week ended April 3
Loans & investments 1,311,955,000 1,309,522,200 1,081,033,800 2,390,556,000
+5.061,500 +15,981,600
Change from last week +9,655,400 +10,920,100
1,353,409,000 1,355,968,700 a1,036,850,600 2.392,819,300
Deposits
+5,686,700 +16,256,500
Change from last week +3,288,500 +10,569,800
Specie
Change from last week
272,138,900
-1,114,100
274,405,100
+2,710,300
Legal-tenders
Change from last week
76,715,900
-4,124,400
78,572,000 b
-2,861,700
127,904,200
+1,086,000
402,309,300
+3,796,300
19,847,300
-883,400
98,420,200
-3,745,100
Aggr'te money holdgs_ 348,854,800
Change from last week -5,238,500
Money on deposit with
other bks. & trust cos
Change from last wk.
352,978,000 c 147,751,500
-151,400 • +202,600
500,729,500
+51,200
25,044,500
+779,700
25,044,500
+779,700
348,854,800
Total reserve
Change from last wk. -5,238,500
Percentage to deposits_
25.82%
requiring reserve_ _ _
26.26%
Percentage last week
352,978,000
-151,400
172.796,000
+982,300
525,774,000
+830,900
26.07%
26.29%
19.10%
19.10%
10,502,550
13,985,825
Surplus reserve
+ Increase over last week. -Decrease from last week.
a These are the deposits after eliminating the item "Due from reserve aepositortes and other banks and trust companies in New York City;" with this item
included deposits amounted to $1,237,355,500, an incerase of $19,446,500 over
deposits are "net" both
last week. In the case of the Clearing-House banks, thenotes. c Of this amount
for the average and the actual figures. b Includes bank
State banks held $14,018,400 and trust companies $133,733,100.
The averages of the New York Clearing-House banks
combined with those for the State banks and trust companies
in Greater New York outside of the Clearing House compare
as follows for a series of weeks past:
COMBINED RESULTS OF BANKS AND TRUST COMPANIES IN
EW YOR S..
GREATER
We omit two ciphers in all these figures.
Week
Ended.
Loans and
Investments.
Mch 13._
Mch. 20Mch. 27..
Apr. 3_ _ _
2,382,417,8
2,371,724,4
2,374,574,4
2,390,556,0
Deposits.
Specie.
Tot. Money Entire Res.
Holdings. on Deposits
Legals.
$
2,387,897,0 401,261,0 101,204,2 502,465,2 527,737.3
2,371,750,4 398,997,5 101,213,4 500,210,9 524,807,5
2,376,562,8 398,513,0 102,165,3 500,678,3 524,943.1
2,392,819,3 402,309,3 98,420,2 500,729,5 525,774,0
-The
Reports of Non-Member Banks.
following is the
statement of condition of the non-member banks for the
week ending April 3, based on average daily results.
We omit two ciphers(00)In all these figures.
Banks.
Capital.
Surplus.
Loans,
Disc'ts
and
Investnients.
N. Y. City.
Borough of
$
Man.& Br:.
225,3 1,130,0
Wash. Hgts 100,0
200,0
Century _ _ _
157,6 1,601,8
400,0
245,2 4,408,5
Colonial _ _ _
427,7 5,773,0
Columbia __ 300,0
904,9
180,4
Fidelity .._ _ 200,0
500,0
Jefterson__
677,5 3,294,1
283,0 2,446,6
Mt. Morris_ 250,0
_ 200,0
Mutual _
325,6 4,255,7
19th Ward_ 300,0
461,0 4,204,3
100,0
Plaza
401,3 3,353,0
23rd Ward_ 200,0
88,1 1,594,3
Union Ex.N 1,000,0
950,0 6,897,0
Yorkville
100,0
444,8 3,613,1
Coal& I.Nat 500,0
725,8 4,532,0
NewNethl'd 200,0
238,3 1,879,0
Batt.Pk.Nat 200,0
145,8 1,111,0
Borough of
Brooklyn.
200,0
Broadway
515,4 3,075,8
Mfrs' Nat
252,0
777,6 5,373,6
Mechanics'. 1,000,0
902,1 10,498,0
919,9 6,458,0
Nassau Nat. 750,0
300,0
Nat. City
568,7 4,526,0
138,1 1,579,3
North Side_ 200,0
Jersey City.
First Nat.. 400,0 1,210,8 3,078,6
721,1 2,542,9
Ilud.Co.Nat 250,0
374,0 1.648,8
Third Nat_ 200,0
Hoboken.
612,5 2,694,0
First Nat_ _ 220,0
220,5 2,174,4
Second Nat. 125,0
Specie.
Legal
Tender
and
Bank
Notes.
Deposit withCleartng
Agent.
Other
Net
Banks, Deposits,
&c.
-
$
195,0
87,0
444,8
511,0
112,5
262,9
351,3
651,9
436,2
624,0
256,2
---372,7
658,0
149,0
10,0
$
..-260,3
837,4
------119,7
64.8
6,1
869,2
____
_---150,0
200,0
15,0
----
$
1,146,1
1,933,4
6,007,7
6,820,1
883,5
3,297,2
3,153,5
5,194,1
5,887,7
4,055,1
1,887,0
6,710,C
4,720,2
5,002,0
1,918,1
946,0
292,2
18,8 372,0
568,9 134,3 1,027,5
250,2 1,783,5 1,366,2
315,0 646,0 1,162,0
628,0
96,0 687,0
248,1
81,5
138,3
208,4
208,7
179,0
.......
155,0
220,0
3,596,4
6,220 5
'
14,0065
6,705,0
5,681,0
2,0127
$
$
51,0
133,0
34,0 228,8
516,1 358,9
535,0 502,0
65,9
67,6
6,9 365,0
33,0
442,1
26,8 724,2
72,2 730,5
227,0 357,0
52,9
153,2
699,2 1,016,6
51,6 644,7
016,0 221,0
66,0
205,0
36,5
172,0
262,6
203,1
65,8
273,6 6,137,6 2,231,0 10 847 3
19,5
271,0 628,9 28613
' '
135,5 1,028,5
97,6 2,799 3
,
14,5
133,9 313,6 2,477,8
108,0
63,0
101,5 276,8 260,3
71,6
Tot. Apr. 3 8,647,0 12,938,1 95,548,6 6,356,0 9,665,0 17,519,0 7,049,4 119427,7
Tat. 5,Ich.27 8,597,0 12,870,7 95,502,9 6,429,0 10071,1 13,823,5 6,624,2 115378,6
Tot. Mch.20 8,597,0 12,870,7 95,448,0 6,253,8 10290,6 16,380,3 5,443,7 118146,9
•arcIting and financial.
We shall be pleased to furnish to institutions and investors copies
of our special circular describing
43 RAILROAD BONDS
Listed upon the New York Stock Exchange
Spencer Trask & Co
WILLIAM AND PINE STS..
NEW YORK
Branch offices: Chicago, lii., and Albany, N. V.
separate figures indicating
Greater New York.
MOFFAT & WHITE
Members New York Stock Exchange
HANOVER BANE BUILDING
5 NASSAU STREET.
DEALERS IN INVESTMENT SECURITIES.
Commission Orders Executed for Cash Only.
APR. 10 1909.1
THE CHRONICLE
azdte.
Wall Street, Friday Night, April 9 1909.
The Money Market and Financial Situation.
-The general
feeling of optimism noted last week has become somewhat
more pronounced. One evidence of this is seen in the fact
that business at the Stock Exchange has been relatively large
in volume and prices have generally recorded another advance. The latter has resulted, as noted below, in the
establishment of many new high-record prices by prominent
issues, including both railway and industrial. On the London
Stock Exchange, also, business is more active, prices are advancing and money rates the lowest of the year.
It now seems probable that new tariff schedules will be
adopted somewhat sooner than has been expected, and it is
reported that orders for iron and steel in various forms,
other than steel rails, are increasing. It is also reported that
general business in the West, both North and South, is decidedly better, and this is corroborated by railway traffic
returns from the same section.
The grain markets have been disturbed by an advance
in wheat to a price reached only on two occasions in many
years. .The prices quoted seem to be due directly to speculative manipulation, but the matter was made comparatively easy by published statistics showing that the world's
visible supply is far below the normal amount.
Gold exports this week are limited to $1,000,000, shipped
to South America.
The open market rates for call loans at the Stock Exchange
during the week on stock and bond collaterals have ranged
2%. To-day's rates on call were 1 3'®2
from 1%
%.
Commercial paper quoted at 33'®39% for 60 to 90 day endorsements, 334@4 for prime 4 to 6 months' single names.
%
The Bank of England weekly statement on Thursday
showed a decrease in bullion of £2,238,560 and the percentage of reserve to liabilities was 47.22, against 48.52 last week.
The rate of discount remains unchanged at 23%,as fixed
April 1. The Bank of France shows adecrease of 9,450,000
francs gold and 2,675,000 francs silver.
to
NEW YORK CITY CLEARING-HOUSE BANKS.
1909.
Averages for
week ending
April 3.
Differences
from
previous week.
1908.
Averages for
week ending
April 4.
1907.
Averages for
week ending
Apra 6.
3
$
$
$
Capital
126,350,000
124,350,000 128,100,000
Surplus
168,258,900
159,984,000 159,990,500
Loans and discounts__ 1,309,522,200 Inc. 10,920,100 1,180,378,700 1,062,688,800
Circulation
48,713,600 Inc.
50,398,800
60,273,200
175,800
Net deposits
1,355,968,700 Inc. 10,509,800 1,213,954,400 1,036,713,100
U. S. dep. (Incl. above)
43,482,300
2,334,900 Dec.
30,389,700
172,900
Specie
274,405,100 Inc. 2,710,300 281,926,200 206,958,000
Legal tenders
71,661,500
78,572,900 Dec. 2,861,700
62,252,700
Reserve held
25% of deposits
352,978,000 Dec.
151,400
338,992,175 Inc. 2,642,450
Surplus reserve
Surplus, excl. U. S. dep
344,178,900
303,488,600
278,619,500
259,178,275
13,985,825 Dec. 2,793,850
19,441,225
40,690,300
'
14,569,550 Dec. 2,837,075
51,560,875
27,038,650
-The Clearing-House now issues a statement weekly showing the total
Note.
of the actual figures on Saturday morning. These figures, together with the returns
of separate banks, also the summary issued by the State Banking Department
showing the condition of State banks and trust companies not reporting to the
Clearing House, appear on the preceding page.
-The market fluctuated widely early
Foreign Exchange.
in the week, tending strongly upward until Wednesday, influenced largely by speculative operations; the tone was
steadier toward the close. Gold exports, $1,000,000 to
Argentina and $500,000 to Brazil.
To-day's (Friday's) nomi nal rates for sterling exchange
were 4 86 for 60-day and 4 88@4 88% for sight. To-day's
(Friday's) actual rates for sterling exchange were 4 8625 ®
4 8650 for long, 4 8765®4 8775 for short and 4 8700@4 88
for cables. Commercial on banks 4 85%®4 8634 and documents for payment 4 853'®4 86. Cotton for payment
4 853/©4 854, cotton for acceptance 4 85%@4 86% and
grain for payment 4 S6®4 86%.
To-day's (Friday's) actual rates for Paris bankers' francs
were 5 17300 173 for long and 5 164@5 163x for short.
Germany bankers' marks were 95®95% for long and 95 5-16
®95%d for short. Amsterdam bankers' guilders were
40.35@40.37 for short.
Exchange at Paris on London to-day 25 fr. 183-ic.; week's
range, 25f. 19c. high and 25f. 17c. low.
The week's range for exchange rates follows:
----Long
Short
Sterling, Actual4 8625
0 4 865014 8780
High
4 878514 88
4 862014 8755
®
4 8610
Low
4 876514 8785
(
Parts Bankers' Francs
5 1754
0 5 16%a15 1654
.0 5 1534a1
High
5 i:3
@ 5 1734 15 16345
Low
@ 5
Germany Bankers' Merits
tOi 9554
05
High
I 6534
Q) 05 7-161
9
04 13-161 4)5 5-16 0 9534d 1
Low
Amsterdam Bankers' Guilders
140.35
High
40.371
140.34
Low
40.351
0
Cables---0
4 8805
4 8795
Less: a 1-16 of 1%. d 1-32 of 1%. h 3-32 of 1%
Plus: k 1-16 01 1%. x 1-32 of 1%. y 3-32 of 1%.
The following were the rates for exchange on New York
at the under-mentioned cities to-day: Savannah, buying,
50c. per $1,000 discount; selling, 75c. per $1,000 premium.
Charleston, selling, $1 per $1,000 premium. New Orleans
bank, 75c. per $1,000 discount; commercial, $1 per $1,000
discount. Chicago, 15c. per $1,000 premium. St. Louis,
50c. per $1,000 premium. San Francisco, 30c. per $1,000
premium.
925
State and Railroad Bonds.
-No sales of State bonds have
been reported at the Board this week.
The market for railway and industrial bonds has again
been active and strong. Daily transactions averaged between $6,000,000 and $7,000,000, par value, and in almost
every case prices are higher.
American Telephone & Telegraph cony. 4s have been the
conspicuous features. Dealt in on an enormous scale, they
advanced from 98 to 1033/ and close a fraction below the
top. St. Louis & San Francisco 4s have advanced 13,4 points.
Union Pacific cony. 4s followed the shares in an advance of
13%. Colorado Midland 1st 4s, Rock Island 4s and Brooklyn Rapid Transit ref. cony. 4s are up nearly a point.
United States Bonds.
-No sales of Government bonds
have been reported at the Board this week. • The following
are the daily closing quotations; for yearly range see third
page following.
Interest' Apr.
Periods . 3
2s, 1930
registered Q
-Jan
2s, 1930
-Jan
coupon Q
3s, 1908-18
registered Q-Feb
3s, 1908-18
-Feb
coupon Q
35, 1908-18-small coupon Q-Feb
4s, 1925
registered Q
-Feb
4s, 1925
coupon Q-Feb
2s, 1936.Panama Canal regis Q
-Feb
2s, 1938_Panama Canal regis Q
-Nov
Apt.
5
Apr.
6
Apr.
7
Apr.
8
Apr.
9
*10134 *10154 *10154 *10134 *10134
*10134 *10134 *10154 *10154 *10134
4
*1011 *10134 *10134 *10134 *101%
*10134 *10134 *10134 *10154 *10154 Holl*1(5) *100 *100 *100 *100
day.
*119 *119 *119 *119 *119
*12034 *12034 *12034 *12034 *12034
*101 *101 *101 *101 *101
*101 *101 *101 *101 *101
* This Is the price bid at the morning board; no sale was made.
Railroad and Miscellaneous Stocks.
-The stock market
has generally been strong and a considerable list of prominent issues advanced to new high records for the year. This
list includes Union Pacific, Northern Pacific, Missouri Pacific, St. Paul, Pennsylvania, Louisville & Nashville, Rock
Island preferred, Denver & Rio Grande, Brooklyn Rapid
Transit, Smelting & Refining, General Electric and National
Lead. Although there has been, as usual, more or less selling in anticipation of a protracted Stock Exchange holiday,
these offerings were readily absorbed and closing prices were
generally at or near the highest.
Among the exceptional features are Wisconsin Central,
which was bid up over 11 points within the week,8 above the
previous high record, and Chesapeake & Ohio, which added
7 points to its recent advance. Northern Pacific has also
been notably strong.
The copper stocks advanced in sympathy with a stronger
market for copper metal, and the United States Steel issues
are substantially higher.
For daily volume of business see page 933.
The following sales have occurred this week of shares not
represented in our detailed list on the pages which follow:
STOCKS.
Sales I
Week ending April 9. for ,
Week.'
Range for Week.
Lowest.
Amer Teleg & Cable_ _
114 75
General Chemical, pre__
192 10134
Hock Val J P M recta_ _ _
100 103
Hock Valley, pret
100 91
Homestake Alining
50 9234
Horn Silver Mining
100 70c.
Ills Cent leased lines__ _
50 100
Minn St P & S S Al rights 1,900 8
Nor Ohio Tree & Lt_ _._
200 2334
Pitts Ft W & Chicago....
100173%
RR Securities-Ills Cent
stock trust certificates
420 91
St L & 5 F
-C.& St Ill
new stk trust certts__.
3 6434
South Pacific rights_ _ _ _ 24,856
%
Vulcan Detinning, pref..
25 49
Wise Cent pt tr reels_ _ 12,100 8654
Apr
Apr
Apr
Apr
Apr
Apr
Apr
Apr
Apr
Apr
Highest.
6 76
3101%
6 103
6 91
6 92%
5 70c.
8100
8 8%
5 24
6173%
Apr 3 92
Apr
Apr
Apr
Apr
Apr
Apr
Apr
Apr
Apr
Apr
Apr
Apr
Apr
Apr
Range since Jan. 1.
Lowest.
3 75
7 98%
6 102
6 90
87
5 70c.
8 99%
7 8
6, 23%
6 173;4
Apr 5 88%
6 64% Apr 6; 6414
8
% Apr 8'
%
3 49 Apr 31 45
3 88% Apr 61 86%
Highest.
Feb 78
Jan,102
Mch 106
Feb 93
Jan 92%
Feb 70e.
Mch 10034
ApIl 8%
AprI 24
Mch 174%
Feb
Feb
Jan
Jan
Feb
Feb
Bich
Apr
Apr
Jan
Jan 02
Apr
Apr 67
Apr
%
Jan 51%
Mch 88%
Jan
Apr
Jan
Apr
Outside Market.
-The market for outside securities was
irregular as a rule this week and trading light. Firmness
and activity were noticeable only at times and in spots. A
few of the industrial shares, however, advanced sharply.
American Tobacco registered a gain of 18 points from 380
to 398. The International Smelting & Refining shares were
dealt in for the first time, selling on the first day at 131 ®
130 and later from 129 to 1303 . Standard Oil was promi%
nent early in the week with a rise from 668 to 6713 , but
%
with renewed prominence given to the suit of the Government against the company,the closing price declined to 666.
United Cigars advanced from 55 to 60, reacting to 58. American Light & Traction continued its upward movement with
a gain from 191 to 1943. The dividend was declared this
week and, in addition, the directors decided to pay a 10%
stock dividend in November of each year, provided the
earnings warrant it. The bond market was firm and active.
The Argentine 5s made a fractional gain to 98 13-16 but
dropped again to 983 . Duluth Superior 4s sold from 925i
%
/
to 93%. Jones & Laughlin 5s ranged from 99, to 99 11-16.
3
,
Southern Pacific 4s were active, the "W. i. selling from
98 to 98 11-16 and the "f. p." from 973% to 98 5-16. Very
slight changes mark the result in the mining shares. Boston
Consolidated Copper advanced from 12 to 123g. British
Columbia shows a drop from 7 to 6%. Butte Coalition
rose from 24% to 253( but reacted to 243. Greene Cananea
advanced from 103 to 103i. Miami fluctuated between
14% and 14%. Nevada Consolidated Copper moved upward from 20 to 20%. Nipissing declined from 10% to 10g.
3
3
United Copper common rose from 13 to 13% but on heavy
trading reacted to 123 .
4
Outside quotations will be found on page 933. ,
New York Stock Exchange-Stock Record, Daily, Weekly and Yearly
occury,,,
S'I'OCKN-HI()HES1 ANL) LOWEST SALE PRICES
Saturday I
April 3
Monday
April 5
Tuesday
April 6
Wednesday
April 7
Thursday
April 8
8
10658 10778 10778 10812 10718 1083 107 10814 10658 10818
104 104
10334 103 8 *10312 104
7
104 104
4
2 - - 3
122 12238 1- 212 123 8 122 12212 12212 12212 12253 1233
•
4
. 11158 11238 1124 11318 11214 11318 112 11233 11213 1123
95
*95
95
95
95 8 *9514 96
5
95
*9312 95
8
3
753 7712 7614 7712 7614 7738 767 7738
7413 73
64 *____ 64 *____ 64
*..._ 64 *____ 64 *
8
. 17538 1763 17578 17714 176 17634 17613 17658 17638 17714
6612 66
12 *6612 67
• *6812 6653 *6614 6638 *6634 67
235 239
241 241
*22712 235 *22712 235 *22712 235
4 7078 7238 7218 7312 74
7678
7034 713
6934 71
6912 7218 70
72
7138 72
58 7112 73
' 714 72
78
*70
77 *____ 78 *____ 78
*70
*70
77
512
434 512
5
8 5
47
434 5
8 518
47
60
*55
*55
65
*55
60
60
*55
69
*55
28
28
2912 *2612 28
*27
29
*25
30
*25
718
718
8
7
12
7
718 73
712
714 712 -87
150 1513 15018 15178 14913 15053 14953 1503
4
4
• 149 150
16513 16512
4
16434 1643 165 16534 16514 16578 166 166
182 182
i 1814 18114 18112 18273 182 18314 182 182
216 216 *216 225 *218 228 *214 220
• 216 216
*153 158 *152 157 *153 158 *154 158 *154 158
*160 170 *160 170 *160 170 *160 175 *160 175
4 *m4 534
*5.32 53
4 *512 6
2 57
*53
6
*5
16
16
*154 1612 *1512 1612
16
*1512 1612 16
75
75
75
7434 7553
7614 7514 7514 75
*75
*102 110 *103 110 *103 110 *102 110 *102 110
6414 6213 8314 6214 63
63
6338
6414 6412 64
82
*81
82 82
81
8118
8112 82
82
82
*7612 73
78
*77
7613 77
7814 *7712 78
77
178 17933 179 17914 17914 18112 181 18112
*177 178
600 600
600 600
580 590
560 560
*553 555
4612 4813 4734 4914 4812 4953 4812 4938 4812 4918
8818' 873 873
4
8812 88
83
8734 8814 88
87
4
59
! *5812 6114 5813 5812 5813 5812 5312 5312 59
12
*1718 1713 31814 1814 1713 171,3 174 1712 1712 17
3214 3214 3218 3212
33
3214 *32
32
' *3112 33
8 2918 2912 2914 29 4
8
3
8 287 293
. 2814 20
2914 297
4412 4413 4512 46
4538 4578 4533 4573 4513 46
3513 3512 3512 3538 3512 3512 *35
35
3612
*34
14614 147 8 14614 1463 x145 146
3
58
145 1463 14612 14712
4
4
70
6914 69
6958 69
; 6814 6912 69
6914 69
*14
14
1418
15
1414 *14
15
*14
*14
15
4613 4613
*44
3
_ *43 4*434 ____
3
*4334
(3
8
8618
gic1*8412 - 2 *8412 8612 86 -_.- 86
*8412 87
4
.14,5 14534 148 14634 14614 14673 14614 14 8 146 1473
67
4 143 143
1478 1513 1418 143
8
1412 15
4 1458 15
4214 4412 4358 4514 4138 4334 4258 4312 4212 4414
2912 29
2913 29
29
7
28 8 3118
2912 *29
29
58
58
5712 5814 5712 60
5712 5814 5814 59
7612 76
78
• *7413 7614 *74
14 *7513 78
*75
76
4612
4 46
8 46
463
8 46
465
• 4512 4612 4618 467
7
14
7314 72 8 73
7313 7334 7318 7358 73
7234 73
22
24
23
22
3
*22
23 4
*22
22
*2013 22
*51
5212 *51
53
52 *50
*50
12 5212 56
52
6412 6412
86
*83
*64
65
65
64
(35
s. 64
135 13612
5
' 13313 13412 135 135 8 13412 13514 13434 136
145 145 *14412 146
*144 150 *143 150 *143 150
2212
22
27
*22
28
*22
*22
25
25
28
2334 2414 2333 2418 2312 2434 2433 2438 2418 2458
5534 58
5514 5512 5534 *5412 56
55
55
*54
*84
88
88
*84
88
*84
88
88
*84
*84
14414 14434 145 14512 145 14534 145 14512 14514 146
*155 157 *155 157 *155 157 *155 156 *155 157
4158 4258
4134 4218 4213 4234 4134 4212 4112 42
7412 7412 7412
*74
74
*73
7414 7412 7518 74
7378
73
7213 74
7312 73
7134 7214 7214 73
4
*125 13.5 *123 135 *127 135 *127 135 *129 1293
46
-- 4412 45
14 4514 4614 4814 *44
45
• *4212
3
2373 23 3 23 4 2414 2412 2412 *2438 2412
2312 24
7
13013 130 8 130 131
7
13038 13112 12973 131
: 12934 131
5213
4
. 513 513 *5114 513 *5112 53 *5012 5212 52
4
4
96 105
*06 105
*96 105 *96 105 *98 105
80
*75
79
7614 7614 *75
79
• *75
*75
79
16434 165
4
1643 16514 165 165
164 1643 165 165
4
4733 4678 4714 4678 4718
4712 47
4634 4718 47
14 91
31114 90
9033 9073 9014 9078 8912 9158 91
88
*86
88
*86
88
*86
88
*88
88
. *88
8
3
8
,14414 145 4 14573 1475 145 4 1475 14614 14714 14718 14778
3
99
93) *91
*91
99
99 *94
' 9812 9812 *93
*98 105 *98 105
*98 105 *98 105
1,
;. 1 95 105
*91 100
*91 100
*93 100 *94 100
*95 105
3
8
4
13334 13458 1344 1355 13418 1353 13414 1343 13433 13473
3
9234 92 4 9234 93
3
93 *92 4 93
'39314 93
14 93
110 110 *110 112 *110 112
*110 112 *110 112
13612 13814 13712 13812
3
13413 13534 13514 1377 13518 137
90
90
*89
*88
91
*88
91
*88
89
89
93 • *9234 9413
93
93
93
92
392
891
93
8 2434 2514 2473 2558
8
4 247 257
2414 2434 2458 243
86 8
3
65 8 65
7
6433 6414 6434 6434 6634 65
64
68
*66
70
*66
70
*66
70
70
*68
*65
39
38
3878
12
39 *38
39
39
? *3713 39 *38
*2334 2414 23
233
24
4
4
*233 2414 2412 2413 *23
55
5512
56
5538 5618 *55
50
' 5514 5553 56
8
12034 12173 12138 12234 12112 1223 12112 12214 t12138 12214
124 12478
125 12512 12514 12514 *12434 125
125 125
2638 2618 2614 2613 2632
2613 26
26
2513 26
6513
65
3
3
645 6512 845 65
53 6412 643 65
8
; • 63
34
4 33
3 3318 333
3
• 333 3312 3373 3378 33 4 343
8
2912 29
29
3013
3012 3112 2812 30
:• 2812 30
3
3
1278 1278 12 4 12 4 1314 1314
13
13
13
3. 13
52
533
53
4
5414 *52
51
5314 5314 5412 53
7012 7013 7114 7034 7118 70 8 70 8 7014 7038
3
3
'70
104 104
*103 1033 10334 10334 *103 104 *163 104
4
3
:18513 18634 18678 18914 18718 18878 18714 188 8 18778 18914
9512 9538 9538
9514 9514 *95
4
i *943 9514 9513 95
35
35 *3112 35 • *31
*31
36
*31
35
*32
5413
*52
55
*52
54
55
*52
5312 5313 *52
5
3
3
3
1818 1812 1814 18 8 18 8 18 8 1812 18 4 1814 1812
4714 473
4734 47
4
14 4834 4714 48
4612 4778 47
20
20
2012 2014 2078 19 4 20 4 20
7
1934 20
3
1
10 8
1 *9
101
1012 *10
• 1012 1058 1012 1013 *10
2211
22 *21
*21
23 *214 2312 *2112 2311 22
1178 1178 *11
1212 1178 1178 1114 1113 1112 1112
5312 5912
4914 5114 50 3 53
4812 49
4834 49
3
,*8434 87
12 8812
*8512 _ _ *8714 8938 *87
87
87
Friday
April
'L
A
91
8.
0
0
0
Sates of
the
Week
Shares
STOCKS
NEW YORK STOCK
EXCHANGE
..br: 1 19%11,
Rano
On basis or 100
-shat; xis
Lowest
Highest
hange *an 1-serious
Year 119081
Lowest
Railroads
0
07 Ta n 10
% ,tc 3
tig Feb
47,100 A tch Topclia & SantaFe 19 74 Jan 23 104 ; ill,,Ii31
510 i'l Do pref
8
833 Feb
107i Jan 14 1233 Anr i
4
5912 Met;
3,400 Atlantic Coast Line RR
10312 Feb 23 31338 Apr 1
7612 Feb
27.000 Daltimore & Ohio
92 Feb 3 9, Apr 5
80 Jan
950 Li Do pref
3714 Feb
67.355 Brooklyn Rapid Transit_ 67 Jan 9 7712 Apr 5
1 3 m c 3 17 Alela 16 3711.34 Oct
8
4
Buffalo & Susquc. pref__ z165 Meh16 16314
Jan
140 Feb
14,400 flanadian Pacific
6014 Jan 11 6612 Apr 7
Southern
64 Mch
100 Canadian o
6
870 Central of New Jersey.... 2516533 Feb 23 2746173 AprAPr 8 160 Feb
Jan
2512 Feb
198.100 Chesapeake & Ohio
5778 Feb 24 7434 Ayr 1
10 Feb
12,050 Chicago & Alton RR
71 Feb ::4 7812 WW1
47 Meb
Do pref
414 Mehl8 1112 Jan 2
318 Feb
6,000 hicago Great Western.._
2312 Isle
60 Jan 22 62 Apr 1
Do 4% debmture^
3 Tan 13 37 Jan 4
2
1512 Feb
Do 5% pref "A"
200
612 Mehl9 1418 Jan 2
5 Feb
Do 4% prof "B"
2,100
88,364 Chicago Mllw & St Paul.. 141 Feb 23 15178 Apr 6 10312 Jan
15812 Mehl5 167 .;an 25 138 Jan
2,449
Do pre
3,200 Chicago & North Western 17318 Feb 24 185 Jan 2 1351 Jan
x208 Mob 15 3h25 Jan 5 5185 Jan
Do pref
200
Chic St P Minn 5; Omaha ;152 Mch28 158 Jan 5 114 Feb
16612 Jan 30 169 Jan t).5 14012 Jan
52 Apr
7 Jan 4
514 Jan 13
P T
Chi?:Unrefrac ctfs stmpd
4 Apr
1414 Feb 26 3814 Jan 27
Do pref ctfs stmpd
200
4712 J'ne
LS Jan 29 7912 Feb 16
Cleve Cln Chic & St L
1.210
8518 Feb
100 Jan 4 105 bich22
21 Feb
574 Jan 5 6814 Jan 8
loo predo
3,370 Cop rado r Southern
3
50 8 J an
7612Jan 2 8512 Jan 8
1st preferred
825
Do
3934Feb
7314 Jan 2 8412 Jan 7
1,100
Do 2d preferred
16734 Feb 24 182 Jan 4 14112 Feb
& Hudson
8,300
elaware
800 Delaware Lack & West_ 535 Feb .1 600 Apr 7 '420 Jan
1414 Feb
3753 Jan 6 4958 Apr 6
45,710 Denver & Rio Grande
2914 Mch
791. Jan 6 90 Feb 10
Do pref
4,320
3212 Apr
56 Jan 30 6212 Feb 20
United
400 Detroit
6 Feb
625 Duluth So Shore 5: Atian 1514 Jan 6 21 Jan 15
1134 Feb
28 Feb 23 351, Jan 15
Do pref
750
12 Mch
2253 hichll 343 Jan 2
4
22,810 Ude
2432 Meh
3615
3612 Meh 11 5112 Jan 2
6,600 11.1 Do 18t pref
po 3d
16 Mch
2813 Mch 11 4012 Jan 4
600
4
13853 Feb24 14814 Jan 4 1133 Feb
42,229 Great Northern pref
413 Jan
Iron Ore properties_ -, 6518Mch12 74 Jan 27
6,520
8 Jan
8 Green Bay 53 W.deb ctfB 14 Feb 26 17 Jan 4
20 Mch
39 Feb 1 4818 Apr 8
100 lijavana Electric
834 Feb 5 8618 Apr 8 370 Jan
700 11 I
137 Feb 23 149 Jan 4 12212 Feb
al
iso
D Central
13,400 2 Ilino
634 Jan
20.375 Lnterboro-Metropolitaa_ 1133 Mch23 19 Jan 5
3634 Meh23 4938 Jan 6
174 Feb
Do pref
65,400
27 Feb 24 3414 Jan 18
10 Feb
5,685 Iowa Central
5412 Jan 4 6134 Jan 19
274 Feb
Do prof
5,050
4
57 Aug
7 2 A ch 1
300 PVC Ft S & M tr efs, prof 743 Feb 2 7614 M0r 16
7
3 3
677
City Southern
4 4
3 7473
2
2
18 Feb
20,775 KC
Feb
Me1130
46 Feb
4,950
1912 Feb 25 24 Jan 2
f
12 Jan
Dorip &
1,000 jr ake E ero. Western
48 .:an 23 53 Apr 8
prof
24 May
1.900 Li
59 Jan 4 6712 Meh29
30 Feb
Island
I
500 LongD a f
x121 Jan 29 13812 Apr 8
8714 Feb
11,400 Louisville & Nashville
142 Mch25 15312 Jan 4 120 Jan
100 M anhattan Elevated
21 Mch25 42 Jan 5
15 Feb
300 M etropolitan Street
112
12 mm ce hh23 2514 .1:.n 4
859 Feb
1412 May
59,700 Ilex Cent Trust certfs
20 Mch
60
0.
1065 Jan 8
3,750 Minneapolis & St Louis
61 Feb
14712 0 2 4
1=7 Jan 26 15912 Jan S
0 Ja
F
7914 Jan
7
o
4,170 Minis Stref & S S Marie
12312 Feb
Do pref
300
3512 Feb 23 4478 Jan 22
1712 Mch
25,500 Mo Kansas & Texas
71 Feb 23 7514 Jan 21
46 Feb
Do pref900
Feb 24 74 Apr 8
2812 Feb
v ss uri Pacific
Missouri Pa tifiz
20,000 iaoh chate
St Louis_ 1221 Jan 5 125 Jan 18
9734 Jan
400 L'at RY2 ot mcx 1st pref 4412 Apr 5 4814 Apr 7
234 Apr 2 2412 Apr 7
Do 2d prep
5.000
21
s
904 Jan
32
34
40.190 N Y Central & Hudson_ 1401: Feb 24157 Jan 4
'2412 Jan
600 N Y Chic & St Louis_ _
100 Feb 20 100 Feb 20
90 Jan
DoDo 1st prof
60 Feb
7614 Apr 6 87 Feb 4
2H pr
N d 4s,
H
efartford........ 15718 Feb 24 16514 Apr 0 128 s Jan
3
100
2,211 N
2913 Feb
7,050 N Y Ontario & Western_ 4214 Feb 24 4914 Jan 4
58 Feb
Jan 20
17,900 Norfolk & Western
74 Mch
11 12eh2: 88 Jan 20
Do adjustment pref___ g1 j n
9338
8
13314 Feb 24 14773 Apr 8 1167 Jan
• 113.520 Northern Pacific
65 Sep
76 Mch 3 0934 Apr 1
lacific Coast Co
L
100
90 May
100 Mch30 100 Mch30
Do 1st pref
L
79 Mch
88 Mch27 100 Mch31
Do 2d pref
4
12618 Feb 13 13553 Apr 5 1083 Jan
47,900 Pennsylvania
59 Jan
33312 Jan 5 94 Feb 4
970 Pittsb On Chic It St L
8118 Mch
.
-..„...m 104 Feb 10 110 Mch25
Do pref
200
9218 Feb
118 Feb 23 14432 Jan 4
• 533,200
78 Jan
1st pref
89 bich22 93 Jan 5
118 Reading
76 Jan
2d prof
90 Feb 1 9312 Jan 5
220
1012 Feb
42,900 Rock Island Company-- 2078 Feb 24 2838 Jan 8
203 Feb
4
5752 Feb 24 6634 Apr 6
Do pzef
68,150
42 J'ne
6514 Mch29 70 Feb 16
at L & San Fr, 18t pret_
1914 Feb
36 Feb 23 42 Jan 2
I:5o 0 Do 2d pref
10 htch
2012 Feb 25 2414 Apr 1
600 St Louis Southwestern
2412 Feb
Do pref
4712 Jan 6 58 Mch 31
1.500
6614 Feb
8
11452 Feb 24 1237 Mch31
02,050 Southern Pacific Co
8Jan
11834 Feb 24 12534 Apr 1 1063
Do pref
850
913 Jan
9,000 Southern v tr efs stmpd_ '22 Feb 24 274 Jan 2
do
2512 Mch
Do pref
60 Jan 6 6513 Apr 6
9.768
30 Feb 24 3714 Feb 6
1234 Feb
4.400
& Pacific
hird
1613 Mob
2514 Mch31 4212 Jan 18
15,600 Texas Avenue (N Y)
612 Oct
3
800 Toledo Railways & Light 11 Jan 14 15 8 Jan 2
43 Feb 26 5413 Apr 5
12 Feb
14.050 Toledo St L & Western
23 Feb
Do pre
6434 Feb 24 7414 Jan 4
, 5.600
7814 Feb
400 Twin City Rapid Transit 97 Jan 2 107 Feb 15
17212 Feb 24 183114 Apr 5 11012 Mch
435,360 1 Talon Pacific
4
394 Mch 1 97 Jan 8
791 Apr
1,452 %-i Do pref
15 Jan
Unit Rys Inv't of San Fr 30 Feb 25 37 Jan 4
14
60 Feb 25 55 Jan 7
271 Jan
Do pref
100
634 Mch
16 Feb 23 1934 Jan 2
2.900 UkTabash
13 Meh
Do pref
41 Feb 23 62 Jan 8
• 16,800 T 7
6 Mch
1912 Mehl6 2572 Feb 5
• 80,100 Western Maryland
812 Feb 6 1278 Jan 4
412 Mch
1.300 Wheeling & Lake Eris
1218 Apr
20 Feb 21
2578 Jan 8
Do 1st prof
100
6 Feb
1018 Feb 28 1518 Jan 8
Do 2d pref
500
1312 Feb
354 Jan 6 E912 Apr 8
26,400 Wisconsin Central
'
:43 Feb
1 Jan 8 x5914 Nell 2
69,
2.300
Do prof
-BROKERS
BANKS AND TRUST COMPANIES
Iitoltest
10114 Dec
104 Dec
11112 Dec
.1173 Dec
0.! Dec
6034 Dec
c43,
1804 Nov
68 Nov
129 Dec
8
593 Dec
6878 Dec
79 Dec
1438 Nov
6814 Aug
/3 Dec
1718 Nov
15212 Dec
1643, Dec
18512 Dec
224 Dec
160 Dec
174 Dec
718 Dec
18 Dec
7012 Dec
ups Dec
59 Dec
79 Deo
76 Dec
181381Dee
175 Nov
401, Dec
834 Dec
56 Nov
4
183 Nov
3334 Nov
36 Nov
5133 Dec
41 Dec
14814 Dec
8
751 Nov
1712 Dec
40 Dec
34 Dec
14934 Nov
20 Dec
4912 Dec
3212 Dec
67 Dec
7512 Dec
4233 Dec
721g Dec
26 Dee
58 Dec
6838 Dec
1253 Dec
4
4
1543 Dec
4412 Dec
2412 Dec
664 Dec
90 Dec
135 Nov
35112 Dec
431. Dec
751i Dec
674 Dec
122 Nov
126 Dec
5712 Dec
105 Nov
85 Dec
161 Nov
4778 Deo
8614 Nov
88 Dec
4
1573 Nov
531. Jan
00 May
97 Jan
13214 Dec
8812 Dec
10834 Nov
14314 Dec
92 Deo
29 Dec
2514 Dec
6258 Dec
69 Dec
4214 Dec
24 Dec
554 Dec
12213 Dec
12613 May
14
27 Dec
631, Dec
3714 Dec
47 Aug
1512 Dee
50 Dec
7312 Dec
9638 Dec
18478 Nov
98 Nov
40 Dec
502 Dec
2058 Dec
523 Dec
4
24 Dec
13 Dec
2614 Dec
3
15 4 Nov
3814 Dec
721, Dec
QUOTATIONS
Bid Ask
Bid
Ask
Ask
Banks
Ask
Bid
Bid
Ask
Banks
Bid
flanks
Banks
Banks
Banks
t25
Plaza 1- __ 610
Fifth Ave- 4000
--__ Mutual
200
310
290
...____ Irvine N Ex 180
ChaseaEx 1 190
Prod Excl1 16212
- . Ntssau li___ 205 . _
Fifth
New Yore
0
3 0 350 Jefferson 1 - 180
,
Chemical .. 4224 430
- .
650 New Neth'd 200
210 Reserve-- __ 14(
785
105
_ First
189 Citizens' Ctl 1160
Aetna
___ Liberty..___ 525
435
-- Seaboard -. 866 kir
New YorkCe 750
155
180 Lincoln _ ,.. 420
590 City
America 1_. 675
1345 1348 14th St 'U
0
-......
Second ..-- 350
New York 135512
215 220 Itaphattaa 320 ( 330
25
Fourth
280 coal 53 Iron 245
kmer Exch- 250
Sherman
Mark't&Pur 260 268
21.0
N'ht &Dayf 200
Battexy Pk 130 1 ____ Colonial 1,_ _ 630))• -„. Gallatin.
i
340 350
260 75) ..- Columbia 11- 375
475 State 1-- 240
Mechanics'_ 251 . 255
19th Ward 1 465
. 290
Garfield
425
Bowery 1
193 Germ ArTt.1 140i
11
12th Wards__166
E1 --- Commerce . 180
--__ Mercantlis _ 1821: 1871. Northern __ ..- 125
BronxBera 300
170 Feeble 11___ 230 - 1:45 936 Ward Y 100
233 239 Germ'n x 4`,0
Bryant Pk 1] 155 , 185 Copper _
__ Aerch Exch 160
200
164
Union Exc _ 190
Merchtuits',_. 160
480
Park
150 Corn Ex ii... - 335 345 Germania
625
140
470
_
utch It Dr
_---- People's 11._ 280
Wash H its 1 230
295
Metropolis 1 875
170 175 , East River.. 125
145 Greenwich 11 2
80
lentury 1
85 2
-1921, Phenix
___ Fidelity 11
--300
West Side 1 500
175
Hanover ..... 540
185
___ Nletropornt 190
165
175
lbase
__ __
--imp It Traci 660
560
Yorkvfile II 425
Mt Morrl;if _ . '250
lhatham _ 300 305
3 Less than 100 shares.State banks. a Ex-dividend and rights, S New stooz.
,T nm sac aseu prices, no saies were mace on tn s tipsy. 3 lox-rlgilts
•
' Sale at Stock Exchange or at auction this week. It First installment paid. n Sold at private sale at this price.
Ask
Bid
-.135
-HIGHEST AND LOIVEST SALE PRICES
['GCE&
8
• Saturday
; April 3
Monday
April 5
Tuesday
April 6
Wednesday
April 7
Thursday
April 8
Friday
April 0
*191 200 *191 200 4101 191 *191 200 *191 200
1513 *1434 15
1518 1513 *15
15
15
15
15
4712 4613 4718 4618 4618 4638 4713
4634 47
46
76
77
7678 767 7712
4
733 7513 7512 7712 76
3
*37
3712 $3612 3712 3712 3712 373 3814 3814 3938
4
• *96
*9512 97
9714 *9512 9714 *9512 97
*95
97
8 3453 3534 3434 3512 3434 36
347
3514 3438 34
90
89
*____ 90 *81
89
89
91
4
913 9212
8
814 83
812
813 838
53
83s 8
*814 812 *6'
74
7414 7414 7434 74
7414 7412 7434 74
7413
4914 5033 5013 5073 493 5038 4912 5018 4933 5013
4
*11012
11118 11118 *11012 11778 *11012 11778 *11012 11112
5214 5253 52
*5214 53
5212 53
5412 5458 5731
*100 10214 *100 10214 100 100 *100 10214 *100 11)214
*205 215 *208 212 *205 212 *205 210 *205 210
714 714
7
7
7
7
*613 714
4
4 63
63
• *3914 40
3912 4014 40
40
4012 41
4114
40
8 3612 3814 3712 383
3613 365
3 38
3914 3912 41
*1413 15
*1412 15
1412 15
*14
15
143 143
4
4
3:3
*32
34
*32
31
31
32
*3012 33
32
5312 5578 5512 5612 5513 56
3
55 3 5-74 5433 5512
*11434 115 *113 115 *1131. 11513 *113 11513 *114 11512
*713 8
753 753 *7
8
8
753 75
712 712
51
551
5212 5334 52
52
5312 52
521 1 5214
8614 8614 8638 8638 8633 1613 8612 8678 867 867
8
8
9018
• 86
8738 873 8914 88
3
9018 8834 90
89
10378 1037 10418 10414 10414 10433 10434 105
8
10434 105
*230 250 *230 250 *230 250 *230 250 *230 250
*97 _ _ _ _ *97 _ _
_ *9712,- *9712 _ _
*97
:38
*37
38
-3734 *37
*37 is
3814
*37
38
7131 132
13318 136
13212 13278 13214 13318 13214 133
12913 12912 *128 130 *128 130 *128 130
12033 131
131 13113 13112 1317 13178 13358 13338 13673 137 13853
8
9633 96
9634
9513 9578 0578 9578 95 8 9573 96
3
33
3312 :3312
33
3318 3313 3312 3313 3313 33
*9913 10014 *9912 19912
; *99 100
9958 9934 *99 100
4
4313 443
3
4 4412 4512 443 4512 4458 4434 4434 45 3
*104 ....„
10512 10512 *104
*104
*104
10312 1033.
*101 ..„. *101
*101 _ _ *101
413
412 -412 453
412 112
458
438 -412 412
2312 *22
2312 2312 23
24
2312
24
24
7- 24
51
51
*50
51
53
*51
*51
52
53
' 51
*135 130 *134 136 *133 137 *133 137 *133 137
4 1434 1578 1514 1514 1538 1533
•*1312 1434 *1312 143
3118 *31
3113
53013 3018 43014 3118 §31
3
; *30 4 32
8 2914 293
4 2914 3018
: 2814 2813 2812 2831 2873 293
101 10'114
3
• 9978 9978 9934 9934 10014 100 4 *10012 101
3714 3912
8 3612 3758
3614 3634 361 4 367
, 3514 30
4
473 4812 4834 52
I 4353 441g 4353 4712 4634 48
.
2
- 13753 13814 i5i- fiA8
1373 137 116
2173 2214 233s
21
21
1973 20
7914 80
7834 79
7834 79
79
50
*46
*46
49
49
*46
49
3534 3578
3534 36
3
30
35 4 36
74
72
74
6934 6934 70
70
83
82
8134 813
4 8134 8212 *81
Li/
231s
SO
*46
13513
70
*81
23 8
3
8113
56
3534
70
83
1E814 1693.
- 1*1561 15714 18754 1611 4 15812 01371 15812 159
98
*92
99
*92
98
*90
99
*95
72 W 3
4
693 69 4 6978 70/2 7012 7034 *7014 71
113 115
113 113 13113 113
11278 113
*11234 113
753 758
818 *77
8
3
712 73
s 8
*714 814
24
2334 24
2434 24
4 24
2314 2312 2334 243
3 *913 10
11
*10
10
1012 1212 1212 1313
10
5634
55
55
x5238 5238 53
54
*52
54
*51
38
3814 397
8 3912 4012
374 3714 3734 3812 :38
8 8478 8473 8434 8473 8473 8533 8514 8512
8478 847
78
7414 75
75
7412 7413 7412 75
*7312 75
72
7212 7334
72
72
71
72
71
7112 72
10234 10234 10312 104
104 104 *10234 104
104 104
4
12312 12:312 123 123 *11934
- 12234 1223
123 123
14
*13
1312 1312
14
*13
*1314 1414 1:312 14
84
*81
84
*81
84
84
*81
*81
84
*81
85
84
8212 8213 83
8512
58 84
85
81
81
*106 10734 10734 10734 10712 10734 10712 10712 10712 10712
312 312
3
3 3 312
353 353
5
338 3 4
3.58 3 8
3
8812 88
88
*85
89
*85
89
88
88
*85
121 122 3121 12212
1. 11912 11912 111913 11913 *11312 120
8 8012 8114 8012 8114 81
8312
8078 807
` 8013 8014
31
3214 3114 3114 31
*31
32
32
32
32
4
11353 11158 11314 1143 11412 11512 11513 11653 11613 118
12
*10
12
12
*10
*10
12
*10
12
*10
42
4213 4213 *40
45
42
44
*4()
41
41
:3818 3714 3712 3714 38
3818 3813 3812 3313 38
99
99
*9813 100
9812 9812
*9812 100
' *98 100
4
4
1743 1743 175 1763
4
4
17412 17412 175 17514 1743 175
12
312 3
314 312
3 14
3
3
312 3.3
314
*3
*3
5
5
*3
3
*4
5
*3
5
*3
40
40
*39
39
4
383 39
*3938 40
39
• 39
100 100
*100 10014 4100 100 *100 1001$ 100 100
3
2218 2314 2214 22 4
3
2234 2231 225 23
22
22
4 733 7414 7414 7414
4
4
3
8
733 73 8 7434 7434 4743 743
7418 7418 7314 7314 *7314 74
74
74
75
*73
*107*107 115 *107 3_3_
4114 4112 413
4
2
4034 111- 4012 161- 41
2
4078 41
87
87
*85
*8514 8614 8612 8714 8714 8714 *84
1034 11
11
10
*912 10
10
10
10
10
69
69
69
68
68
68
69
*68
68
68
2973 2978 2934 3012
30
29
*28
20
29
29
7412 7412
7412 75
73
7412 75
, *70
73
73
87
87
87
*83
87
*83
484
84
87
*85
7212 7212 *72
12 7312 7212 7212 7253 2412 7418 75
1212 *10
1212
, *10
*10
13
13
*10
*10
13
*2912 35
*2913 3212 *2912 32
*2913 32
*2913 32
4
3114 5313 3134
3112 :31
31
31
3114 31
31
*104 105
105 105
10518 10512 104 10514 104 104
74
*70
72
*70
7013 70 8 7034 72
72
7
72
5138
8 50
4873 5038 5033 515g 5013 5114 4934 503
• 11314 11358 1135 114
8
8
1135 11378 11312 11373 11358 1143.1
4278 4334
43
8 4234 433
8 43
8
437 437
4314 43
4414 4414 4414 4473 4414 4458 443 463
4
-: 4714 4318
117 117 *114 117
117 117
*114 117
117 117
70
70
*59
70
*59
, *58
70
*59
70
*59
310 310 *300 335 *300 335 4310 310 *108 335
67
6812 70
67
67
67
67
69
' *6612 67
8312 84121 8314 8312 83
8212 85
8312
8012 82
117 117 ' 118 118
11813 119
*110 119 *114 110
GOOD FR
13678
1858
77
*46
36
*65
*80
927
ew York Stock itecora---Conciuded---Page 2
Arn. 10 1909.1
/3ates 33i
,n3
Week
Share'
STOCKS
NEW YORK STOCK
EXCHANGE
h'anoe F3nc Jan I 1901
On beats ol 100-sharcoa
Ductal
Richest
Industrial&Miscellaneous
190 Jan 20 191 Feb 13
28 A dams Express
1234 Feb 24
1558Jan 27
500 311113-Chalmers
38 Feb 24 50 Jan 2
Do pret
2,200
65 Feb 26 2434 Jan
112,515 Amalgamated Copper
2313 Jan 5 4078 Jan 23
3,700 Amer Agricultural Chem_
9512 Jan 18 58 Mehl8
Do pret
45,210 American Beet Sugar..3... 2014 Jan 13 36 Apr 8
12 J371 7 93 Mch2t)
Do pref
1,100
713 Feb 23
8
113 Feb 2
2,400 3.3nerican Can
7113 Feb 23 7714 Feb
Do pre
3,190
14,260 American Car & Foundry 4414 Feb 24 5112 Feb 15
10712 Feb 23 1113 Itch !O
4
Do pref
100
4218 Jan 5 5734 Apr 8
39,300 American Cotton Oil
Jan
1031. Feb 19
Do pret
100
.
8
( ,
3
9414 Feb 5
5205 IFeebb 227 210 Jan
54
American Express
818 Jan 21
400 American Hide & Leather
4258Jan 22
Do pret
2,100
1578 Jar. s 41 Apr
55,257 American Ice Securities
12 Feb 25 10 Jan 21
300 American Linseed
29 Jan 12 2518 Feb
Do pref
300
10,000 American Locomotive.- 43 Feb 23 51314 Jan 7
2
:
17
841 Aepr .
14
109 Feb 24 . 6978 AF pbr ;
Do pret
7 Jan 7
500 American Malt Corp
.2 Jan 7 54 Mch 12
Do met
1,035
1,200 Amer Smelters See pref B 30 Jan 4
107,000 Amer Smelting& Refining 7734 Feb 24 9018 Apr Ii
101 .17n 2 10613 Feb '1
Do pref
2,100
225 Mch 9
American Snuff
45
e
a 4
95 !. •3 1 2 4 Mch3
I3o pref
3478 Feb 24
700 Amer Steel Found (new)_
16.912 American Sugar Refining 11638 Feb 24 136 Apr Is
z128 Mch 1 131 Apr 3
Do pref
720
5
80,783 American Teleph & Teleg 125 Feb 1 138 8 Apr 8
.3
4
63
American Tobac (new).pf 9013 Feb 6 1 34 Apr 8
2,845
3312 Apr 5
2,500 American Woolen
6
27
93 4 Jan ( 10014 61ch251
:
4
Do pref
300
13,300 dAnacondaCopper Par$25 33734 Feb 26 $5038 Jan 3
105 Apr 2
135 Assoc Merch 1st pref
10113 Feb 17 10412 Feb 10
Do 23 pref
120
1.294 dflatopilas Mining Par320 $278 Jan 29 $458 Apr 2
2614 Jan 25
3
18 4 Mch 9
800 Ilethlehem Steel
47 Feb 24 54 Jan 1
400 5 P Do pref
Brooklyn Union Gas
-3 118 Jan 28 115 Mch31
1,600 Brunswick Dock & C Imp 13 Jan 13 1638Jan 2
2373 Jan 2 3312 Feb 4
215 Butterick Co
Jan
2513 Mch 2
10,415 Cientral Leather
9334 Apr 5 1160335414 , nc 4
M
; nh 1
-2 Do pref
1.415 3
21) Feb 23 4512Jan 7
25,600 Colorado Fuel & Iron.. _ _ _
2138 Feb 23 52 Apr 8
19,800 Col & Hock Coal & Iron_
dComstock Tunnel_Par$2. 23e Mch 8 30e Jan 11
10,825 Consolidated Gas IN Y)- 11412 Feb 4
7
! r ,
235
131,603 Corn Products Refining-- 1613 Feb 24 84t111 AkA, br z8
14
73 Feb 24
Do pre)
11,795
Feb
Crex Carpet
3
5
3.000 Distillers' Securities Corp 3213 Feb2: 4033Jan 31
f4 A b 5
1,100 Federal Mining & Smelt'g 55 Meh 2 74 .3npr 7
Do pret
300
5Aich2.0
3
Federal Sugar lief of N Y 449 Feb 24 445 Mch23
Do pref90 Jan : 5 590 .73n 38
t
15014 Feb 23 16014 Apr 5
12,375 General Electric
Granby Cons Al S dc P_ 91 Mch12 llu Jan 4
2,400 t nt Harvester stk tr ctfs 62 Jan 30 73 Apr 3
1,410 1 Do pref stk tr ctts___ 10914 Jan 13 115 Apr
7 Feb 25
1,230 lot Mer Marine stk tr &Is
an I
9 Jan 2
.
Do pref
21 Feb 23 2758 j
3,100
34
9 m eh3
4712 Meb 18 1313 Apr 8
8,900 International Paper
5634 Jan 4
Do pref
3,200
331. Feb 25 4213 Jan 3
10,300 Internet Steam Pump
0
, 8634 Jan
82
8213 Ja n 3
Do pret
4,600
A
A,pa 8
70 Jan 21 78 J_3)r pi8
7,150 Mackay Companies
Do pret
1,900
735
9(312 Jan '2 10831
930 Vatlonal Biscuit
Do pref
11812 Jan 11 12313 Apr 5
500 k I
151 3 Apr 8
500 Nat Enamel'g & Stamp'g 1258 Feb 24 8812 Jan 27
1 eb 1
0
Do pref
22 Jan 5 38 4 an 22
48,075 National Lead
(7558 Jan14 b 4
1) Feb 25
Do pref
700
5,650 Newhouse Al & S_Par $10 $318 Mehl3 $6 Jan '2
600 New York Air Brake_- 80 Feb 23 132 Jan 3
400 N Y & N J Telephone- 5113 Jan 7 122 Apr 7
9,750 North American Co. new 72 Jan 13 8412 Jan 27
291g Feb 24 3634 3a n 14
500 Pacific Mall
37,190 & eople's 0 L & C (Chic) 10112 Jan 13 118 Apr 8
Pittsburgh Coal Co
1014 Feb 25
1312 Jan 11
40 Feb 25 47 j
Do pret
498
3013 Feb 23 4314 Jan 22
2,530 Pressed Steel Car
96 Feb 26 103 Feb 2
Do pret
200
169 Jan 30 17432 lipb
614 A er
2.612 Pullman Company
in
158 Jan 4
1,800 Quicksilver Ming
Do pref
614 Jan 16
3212 Mch 8 4834 Jan 2
800 Railway Steel Spring__
9
Do pret
h2
7
:
9378 Feb 24 103 Jan 9
310
1,900 Republic Iron & Steel- 1058 Feb 23 2612 Jan
Do pref
810
3
6'71 Feb 2
65 3 Fe b 24
2
a
81 8 F n 9
8814 jeb 2.
400 (.loss-Sheffield Steel & Ir
` Do pref
13
10738 Feb20 111 Feb 10
4
3,300 dTennesseeCopper Par$25 $3434 Feb 26 $49 Jan 5
8714
Apr
1,000 Texas Pacific Land Trust 8012 Feb 23
1,500 1 i nlon Bag & Paper
914 Feb 24 1112 Jan 12
) Do pref
600 k
6934 Jan 22
3,720 U S Cast I Pipe & Foundr 68 ' n 24 3034Jan 0
2438 Fe 8
la
Feb
Do pref
1,250
70 Mch 2 77 Jan 8
160 United States Express_
32 Feb 10 8' Apr 8
4,500 U S Realty & Improvem't 64 Feb 23 75 Apr 8
U S Reduction & Relln'g 10 Meh12 1338.13n 7
Do pret
24 Feb 24 32 Jan 19
27 Feb 24 34l Jan 2
1.910 United States Rubber
Do 1st pret
98 Jan 29 107 Jan 11
2,425
Feb
7334 Jan 5
Do 2d pref
1.700
146077,1134
23
b 25 5513 Jan 22
3
428,238 United States Steel
115 Jan 22
Do pref
11,877
2,710 dUtah Copper_ __Par $10 53918 Feb '33 34773.78n 4
4078 Feb 24 4873 Jan 25
37,340 Virginia-Carolina Chem
Do pref
400
114 Jan 19 2118 Mch'J
64 Jan 6
Write Iron Coal & Coke 57 Feb
08 A pr 3
ells Fargo & Co
8
310 Jan 4
116
6
3004
Feb 5
1n 24 7053 .13.n 2
.
estern Union Teleg
8.000
12.200 Westingh'se El &Mfg assen 74 Feb 34
110 Mch 3 120 Jan 4
Do 1st pref
430
Nance lor Previous
Year (1908)
Lowest.
Highest
164 Jan
5 Meb
14 Me).
451$ Feb
13 Jan
751. Jan
913 Feb
66 Jan
4 Feb
44 Jan
3512 Feb
8414 3.1c2
2434 Feb
480 Jan
170 Feb
234 Feb
131331ch
1213 Feb
Sic),
17 Mc)
3138 Feb
5513 Jan
211 c
21 Jan
70 Jan
551., Feb
4
873 Feb
180 Aug
80 Md.
28 Sep
983 Jan
4
105 Feb
101 Jan
7212 Jan
1513 Feb
7614 Feb
52713 Feb
3200 Aria
1633 Dec
5234 Dec
tai3s Nov
85 No •
GO Nov
3478 Apr
2134 Dec
1014 Nov
73,73 Nov
5034 Dec
;U3 Dec
4434 Nov
97 . Nov
5224 Mn
813 Dec
373 Dec
4
317 Aug
8
1713 Dec
3613 Dec
5133 Aug
113 Dec
33: Sep
513 Sep
8413 Aug
107 Aug
11.038 Aug
200 Apr
9712 Sep
41 Nov
4
1373 Aug
131 Nov
13258 Nov
0713
3238 Dec
97 Nov
,
3531 Nov
5212 Jan
12 Jan
35 Apr
r85 'Feb
6 Jan
f 10 Feb
1512 Feb
3
76 4 Jan
5
15 3 Feb
4
143 Mei)
211e Mch
96 Jan
1034 Feb
56 Jan
4712 Oct
3714 Feb
7212 Nov
89 Feb
55 J'ly
731,Feb
111 Jan
3
78 4 Jan
£2 J'ne
1.9 Joe
0 Oct
16 Feb
8 Apr
97 Oct
13 Jan
05 Jan
52 Feb
8
397 Feb
68 Jan
102 Jan
713 Feb
370 Feb
36 Feb
5712 Jan
1438 Oct
50 Jan
90 Feb
4218 Mei)
24 Apr
30 Jan
312 Mch
3612 Feb
3714 Feb
69 Jan
147 Jan
12 Apr
113 Jan
2334 Feb
75 Jan
1434 Feb
63 J'ne
Iii Jan
3712 Jan
$2513 Feb
95 Feb
4 Feb
447 Jan
1712 Feb
11.33 Jan
70 Feb
1614 Feb
4 Feb
16 Feb
1734 Feb
76 Feb
42 Feb
2534 Jan
1712 Jan
.20 Jan
16 Feb
x87 Jan
43 Jan
3250 Feb
41 Feb
38 Mch
333
33 Mull
2714 Nov
87 Nov
15214 Nov
17 Nov
526 Jan
33 Dec
102 Dec
42 Dee
2713 Dec
44e Apr
167 Dec
2013 Aug
30 Aug
4114 Oet
3834 Dec
94 Aug
84 Nov
661: Joe
100 J'1Y
16234 Dec
10313 J'ly
8
675 Nov
11014 Nov
9 May
2078 Dec
1314 Nov
65 Jan
8
397 Dec
3414 Dec
78 Nov
713 Nov
4
97 Dec
12013 Dec
1514 Dec
2T214 Dee
92 Aug
10614 Nov
8
$97 Jan
98 Nov
122 Nov
78 Nov
4014 Dec
50612 Dec
8
145 Dec
50 Dec
45 Dec
10214 Dec
174 Nov
04 Dec
312 Dec
4914 Dec
103 Dec
21) Nov
8913 Nov
4
813 Nov
11014 Dec
$5214 Nov
544 Dec
I;L,, Nov
4
663 Nov
3
307 Dec
7378 Aug
LO Jan
64 Nov
1514 Aug
33 Aug
3712 Aug
108 Dec
7512 Nov
4
1.83 Nov
3
1143 Nov
15234 Nov
4534 Dec
115 Nov
c8 Nov
225 Nov
4
713 Nov
94 Nov
/95 Noy
BANKS AND TRUST COMPANIES-BANKERS'. QUOTATIONS.
Ask
I rust Co's Utz
Ask
Bid
Ask
133,333
1 rust Co's Me I Ask
Iil/L
48k
Ask
"I rust Co's Bid
Trust Co's Bid
Banks
Brookyln
_2. NY Life&Tr 1103 11120
Brooklyn
Guar'ty Tr_ 600
N Y Cttll
Brooklyn
915
N y Trust_ 567 I --- 13rooklyn Tr 400
175
195 Guardian Ti 160
185
.„. 160 Carnegie
North Side 2 3
_ 110
Borough
135
125
ltizens'
Standard Tr 325
_
3. Hudson ___ 150
Peopl"
130 - Central Tr_ 2100
II_Broadway I 333511 910
--..
KnIckerb'kr :310
_245
--- TItleGu& Tr 500 1 51212 32atbush _ 200
160 Columbia - 235
Prosp'ctPk2 150
Brooklyn 3_ _-. 145
200
Frank!in
--- r Co of Azu 30u 1 310
15217 Law T I &Tr 230
260
245
rerminal 11
33- 110 Commercial 145
First
2751:v41111ton __ 265
8
Lincoln 'rr_ 4144
'0171'wealth 3 3. 155
,Jalon11---- - 11
--_-- Union Trust 1223 113275
130
100
HilisIde13.3.. 110
10.1
930
loine
US Mtg &Tr 424 .
-_ Manhattan_ 310 390
,•314pire ..3 340
120
Horne Bk 11_ 105
__ Mercantile . 725
.--. Unit States.. 1150 11180 ,ones Co _ 465
3:quIt'bie Tr 450
Trust Co's
126
Homestead, 100
305
... Metropor tn 540
N y CityFarm Lo65T 1275
- -- - VanN'd'nTr 255 . 2.3, r. Is) L & Tr 295
925
900
Nfanutae'rs
170
300
-210
Norton Tr_
310 Fidelity __ 200
,-- Washington 400 1 -- Nas.au ____ 160
250
Xstor
'Mechanical 235
-.
People's _ 230
Westehestet 140 1 150
__ 31utuai ____ 450-130
125
--- Fifth Av Tr 325
Bankers' Tr 625
145
140
Montauk
100
50
-. .5 Illiamsb g
Windsor - 3136
130
____ Slut All'nec 120
...... Fulton ....- '270
243) 270
Ilowl'c Gen 400
Nassau
1324
Irryny Tr
310
Net City_ 290
• Bid and asked prices; no sales on this day. I Less than 100 shares. I Ex-r ghts. S New stock. c Ex div. and rights. 3 Now quoted dollars per share.
arc State banks.
I Sale at Stock Exchange Or at auction this week. s Trust co. certificates. II Banks marked with a paragraph (Ii)
--
-'_
-r
New York Stock Exchange-Bond Record, Friday-. Weekly and Yearly
Jam t nol, rite Er;bezarie method of quoting bonds was changed, anf/ ,»rices are now a7', "and interest"-ezeep: /or
,income and deiaz teel5onds.
11011)S
N. Y. sToCK EXCHANGE
ENDINa APRIL 9
/yER
11
.
Prxer
Thursday
April 8
Week's
Range or
Last Sale
?.,
o
Range
Since
January I
RON Ds
N. Y. STOCK EXCHANGE
WEEK ENnishi APRIL 9
47 .'•
'
Proc
,
Thursday
April s
Week's
Range or
Last ,','ale
&cow°
Since
January 2
1/44
Asic Low
54q4 No
U. s. uJovernment
Bia
Cent of Ga Itlt-(Con)
IC)
tow
II iyil
Low Ali
1011 102 101, Feb1
/
4
2
U S 23 consul registered.ct1934)
/
4
)9
101%10'2,
62% 63
, .01 prer income g 5s_..p1949 Oct
62 Mani,.
02
53
a1930 4-4 101 1.4
103 Jan'UV
U 32s consol coupon
103 10:1
3d pref income g Os siampe•i.
64 Sale 615
8
04
61
54
ic1915 12-F 1(11', 102 103% Jan '09
S 3s reg-04tered
Chatt Div pur mon g 43.1931
103%103%
895 Feb1
8
/
4
.5
.....
/
4
k1918 Q•F 1011 1021 101% Mar'09
.
/
4
U 8 38 coupou
Mao & Nor Div let g 53 1946 J.j 105%
1004 101%
4
1047
8J'ne 014
....
. 107 J'ne'in
.
U S 38 rex small bond8 k1918 (1-F
MStGa&Atl Div 53-.1947 J -J 1084 109% 115 Novg15
4
1091 Novg)b
/
4
U S 33 con small bonds-k1918 (4-F 100
Mobile Div 1st g Sc
1'
146 J..1 100%
105 bee'07
1925 Q-F 119 1193 120% Nov'08
4
U 8 4s registered
Con RE do II of Ga col g 58 1937 5-N 104 104% 1051 Aprgni
/
4
1- 4 106
0
1925 (.4-F 120%
122 Nov'OS
U' S 43 coupon
Vent of N J geu'l gold 53.1987 J • J 128% sale 1281 129
/
4
127 129
S Pan Can 10-30 yr 2s.k1936 Q-1•T 101 101% 101 Mar'09
Reistered
12712 salt 127% 127%
51987
101 101%
126 1273
4
Amsock & Imp gu 53_19'21 -.J 110
110 Mar'09
109 110
Foreign Government
Le & Hud R gen gug 58 1920 J.j
Imperial Japanese Governing
Leh & Wilks B Coal 63..1912 M-N 100
993 Jan gh•
993 993
4
4
1925 F-A 494
sterling Loan 4'28
941 93%
/
4
94 117 903
8
Con ext. guar 4%.3. .g1910 Q-31 1003
100% Marge.
8
9918 100'2
4
1025 .7- J t 931 Sale 931g
2d series 4123
937 68 891 93%
,
N Y& Long Br gen g 4s 1941 51-s
/
4
Sterling loan 46
4
1931 J-J t 861 Hale 861
86% 30 80.4 861 Cent Pacific See So Pacific Co
8
/
4
Rapti b ot Cnba 5s exten debt.. 31.6 t102% Sale 102.2 103
1". 1913 104
CentVermont 1st gu 04.6.e11920 Q-F
85
83 .ar'01)
4
83
83
Ban Paulo(Brazil)5s tr rects'19 j j 11 91% Sale 933
8
941.1 40 1192% 94% Chas & Say See Atl Coast Line
4.1 S 01
eXICO 8 I g 5801 ign ( , 973 98% 95.
41
J
J
2
4
9812 10 97% 101% Cites & Ohio gold 66
10318 Feb'09 ...• 103%103%
Gold 43 ot 1904
923 93% 93%
4
93% 11. 921 94
1151 1151 4 1145 117
4 931 5 0 115%
1°11) 311- N
/
4
1st consol g 53
/
4
/
4
.
8
Registered
f 7 h,ese are pr ices on the asis of $5 to 2.
114% Feb100
1939
113%111%
State anti City Securities
102 Salt l01 p, 102
,
Gen funding & 'rapt 53 199
9
101 14 103
Dist of Columbia 3-658...J.924 F.A 10312
110 Nov'OS
General gold 412.3
105'4 sale 1051 1061 29 104 106%
/
4
4
Louisiana new consol 46_1914 JJ
96
105% Dec'04
Registered
105
105
1992 V1- S 102
105 105
New York City
830%
90
tii)%
Big sandy 1st 4s
1944 J.D
8912 91
temporary recite Nov 1958 M-S 1013 Sale 191 8 101', 3(. 1013 1017
48
4
101)
Craig Valley 1st g 5s
109 Feb'09 -• 107% 1103
1040
4
4
4% Corporate Stock _1958 51-N 1017 Sale 1017 101', 23 101% 103 , Potts Creek Br let 45_1946 J-J
8
8
1.0% 90 Jan 't)9 •90
90
4% assessment bonds 1918 11-N
..
1013 Dec'08
4
lt&ADlvlstcong4s 1989 J •J
/
4
)9
100¼ 100 Apr1
99 12 DIU%
New 4128
1957 M-N 111% 'Sale 111% 111',111) 111%112'4
94%
9.3 12-PlY'
'211 consol g 45
06
New 4'28
1917 5I-N
/
4
19414 Apr119
Warm Spr Val let g 53_1981 P4-S 107%
1131 Fe0'05 •
/
4
104 1044
194 1' -j
4
412% Corporate Stock 1957 M-N 111%112 111% Apr'013
Greenbrier Ey lstgug Is'40 M.ei
95 Sep '06 •
111% 1121
/
4
, 4 12 assessm t bonds
%
104
1 104 104% Chic & Mt RR. ref g 33. 19413 5-0
1917 M.N 10414
104
781 781
4
/
4
78 , 41 751 80
1193 )
,
58,
/
4
4% Corporate Stock
/
4
13J21 50 101%1031 • /Midway let lien 312s 1950 J.
/
4
1957 M-N 1021Sale IO2
763 4-1 73E2 '763
7612 Sale 761
4
4
/
4
4
Y state
-Highway 45 1958 M- 3 112%1123 112% liar4.
/ .•
1
)
4
Registered
73 FelP0 •
1123 112%
4
73
73
So Carolina 41 20-40
101
/
4s
/
4
1021 Jan '09
1933 J
(00% 100
1021 1021-4 Ohio Burl do Q-Denv D 481922 F-A 1011
/
4
WU 100%
Tenn new settlement 3s 1913 J -J
953
4
4
953 Feb'01.
1003 sale 10))', 1003 365 99%101
General 4s
8
4
95¼ 115%
Virginia fund debt 2.3s 1991 J.j 91
93 Jan '01) .... 93
05
91'., 31 91
Illinois Div 3123
1949 j j 915 1.1% 91%
03
3
93
68 deferred Brown Bros cots.
36
38 Mar'09
38
9/3 Lec'05
4
Registered....
903
4
38
48
1940 j.j
/
4
Ills Div 43
1021 Al 101% 103%
/
4
1949 2..) 1021 saw 102
Railroad.
09
Iowa Div sink fund 153_ 19195-0 106
/
4
105% Apr1
1101
105%105%
A lainsma Cent See 8o Ry
8inking fund 4s
,,
.
5.0 100 100% 1093 Apr'09 ...• 99's 1003
Lllaba Mail See At Coast Line
Nebraska Extension 43 1927 M.N 101% 102% 101%
10114 102
Albany & Sium See Del& Hue
Registered
101 1017 [01 Mar'09 .•.. 1011
8101%
8
Allegheny Valley See Penn RR
Southwestern Inv 43
Mar'09
1921
2917
19
09%100
131)
99%
09',
Ileg & West See Butt It & P
Joint bonds See Great North
Ann Arbor 1st g 46
86% Mar'09 • 51995 Q-J
Debenture 53
54
102%
87%
102 1031
10212 Mar'09
/
4
Ault T & S Fe-Gen g 43.1995 5-0 ion% Sale IOU% 101.
100% 101%
Han & BtJos C013801 69 1914 511•8 103.2
,1 .
3
1.035 103%
103% 1033
8
0
8
11earistered
100%
IOU
1995 5-0
88 salt 58
E Hirer & imp g 431955 J.J
99 100',
88
1 86
90
Adjustment g 13
94
94
it 92
911 94
/
4
51996 Nov
130
let consol g Us
95%
130% Mar'013
£2914130',
Registered
92% Feb'09 •• 921 921
93
51995 Nov
General cons& lst63.-1937 51...N 115 115% 116
/
4
1937 m N
/
4
115
Ii 111%116%
Stamped
94 Sale 94
91% 48 92% 95%
51995 M-N
Registered
113% 115 1141 Jan '09
/
4
1141 1141
/
4
/
4
Cony g 43
8
1955 J -D 1073 Sale 106% 105 1., 102% 108
Chic & Ind kJ Ity let 53 1996 J -J 114%
1143
4 1114,, 14 114 116
10-year cony g 55
1917 J-1) 108% Sale LOS% Ite) R 3 105% 109
Chicago & Erie See Erie
96% 3titi'08 ..•
Debentures 4s SeriesH 1910 F-A
.
011ie& Lointiv ref 6s-1947
194
128%130 129 Feb'UO
127 129
Series 1
96%
98% Nov'ni ••..
1911 F-A
Refunding gold 5s
114',sale 114% 114% 1 113 114%
94
Series K
94 Nov'Ob
1913 F -A
Loulay N A & Ch 1st68 11010 J.J 102'61021 1021 Mar'09
/
4
/
4
102.4 1021
/
4
973 98
o 1.7
•• East Okla Div lst g 43 1928 M-S
8
97%
97%
CliwMiidoStPtermg5s 1914 .3-J 104%
105 Mar'09
99
1045 1061
8
/
4
22 94% 99%
US % Sale 951
Short. Line list 48 g
/
4
96
1958 J -J
General g 4s series A..e1981) J.J. 103% itiale 103% 103%
k 102 •-2 103%
AttXnox&4 SeeL&N
Registered
e1989 Q-j 103
103% Oct '08
3 941 97%
Atlantic Coast 1st g 43.51952 31.8 99¼ 993 07%
4
General g 312s series 13 e113811 ,c.j"
2734
917
91% ill% 91%
8
4
9141 923
4
Clutries & Sav
g 73_1936 J -J 131
Clilo& L Su Div 05s. -1j 1 J J 1094
4
1151 Oct'us
/
4
1, 20 J:J
101
..
/23s
8J'negm
Bay 1'& W 1st gold 63_1934 A-0 127
4113 1127 Mar'09
Chic & Mo Err Div 53.-.11026 J.j 1123
8
• 1127 1127
8
e
8Jan'04
4
4
1st gold 631934 A-0 1123 1141 1125
Chic & Pao Div 63
1013
3102 101%
. 101'9 101?g
•
/
4
Ala Mid let gu gold 53_19'28 51-N 11014 1111 114% Nos'llf.;
Chic & P W 1st g 5s
110
1916 j
9 1 . 110 salt 110
2
:1
Lull',1103
s
.
• 1 22dar'06
96
Bruns& W 1st gu g 4s _11038 J -J
1057
8
Dak (it So g 63
1057 Mar'09 •-•• 105'2 1057
8
$
in)
8912 LIU
89
26 86
. L & N con g 43
o11152 51-N
Far & Sou amen g Os
1924 J-J [22¼
061
137%2'1Y 111
/
4
''
931 Sep'08
96
/
4
SU Sp Oca
gu g 46
J -J
Hast & 1)Div 1st7s
1910 J -J 102¼ 1023 10213 x109 •..• 102'2 1023
/ 10
4
4
4
Atlantic & Dany See South ity
let 58
1910 .3 -J 1003 101 101 Mar'09 •... 101 101
4
Austin & N W beeSou Pacific
4
LaCrosse do D 1st 53
109',Nov'08 • •
1911) J.J 1083
94
9412 16 93
94's 94
Valt & Ohio prior ig 3%3.1925 J -J
4
Mineral Point Div 58
1013 Marg,..) ...• 101',10114
94%
1910 J.J 101%
923 92
4
923
4
9234
11. Registered
,
-51925 Q-J
0'2
93
So 211.nu Div lst 63
1014 102
1910 J -J 101% Sale 101% 101%
4
,
51948 A-0 100% 101 100% 11)07
Gold 43
100 18101¼
8 '2 100% 1003
100% 1005
Southwest Div 1st 63. 1909 J -3 100%
4
99%
92 Mar'09
Registered
41948 Q-J
/10%
99 100%
110 Jan'09 ••.• MN 110
Wia&MinnllLvg5s
1921 J.J
108
120 yet
Pitts Juno let gold 6s...1922 J -.1
102
/
4
1051 Nev'Ob ...• ... ..
Zultl& No 1st 2J. L 6s
1910 J
89
891 Jan
/
4
:PJ tin & 21 Div 1st g 31251925 NUN
107 ,t4ajo 101% Apr gh.
89'- 89¼
1015 107%
let consol Os
8
1913 J-1)
941 sate 114
/
4
94% 4t, 93% 96
up L E & W Va 8ys ref 431941 MN
Ohm& Northw cons 78
/
4
11110 (4-F 115%1161 116% 116% 13 115%116%
91% 91% '21
911
/
4
:Soutliw Inv 1st g 3123...11125 J -J
90% 01%
Extension 4s
1886-1921886.1926 F-A 100', 103 101 Dim'ov •... 101 101
91
91
91
Registered
1 91
41925
910% 101
Registered
31
6 0-A 100%
1057 Feb'07
-A
Rouen My lst gu g 63-1919 V.j 101
.
92% 943
General gem 348
2
1987 51.N
4
109 Apt'06
, Con Ohio R 1st c g4%s..1930 51-E. 102
Registered
09% 93%
p1US7 Q-If
113 Feb 09.
• Cl Lor& Woon lat g 5s 11)33 5-0 113%
111)18113
......
Sinking Lund 03.-18•79-19211 5-0
113¼ Feb'09
River RR 1st g 66.1936 J.1) 113
Ohio
r ; 1'4 .
1
133
1U:1 4
u1
l
11909 4 S'e u; 2- 109% 109%
1 031131:'84 A3I3a99Yr33; 2
Registered
1131 115 ,
2
1879.1929 5-0 1lJ;993.
...... 111% Feb'09
_1937 A-0 .
General gold
106. Feb'01)
2
108'8 112
108 108%
Sinking Hind 511 18711-11)21) 5-0
8
III? Li Mill'04
1st g Os 1922 A-0 1103
, Pitts Clev do
110% Jau'09 .Z.: 1103 1103
- :
4
4
Registered
4
1879-1929 5.0 1051
971
8
101 Nov1
/
4
)5
West lst g 46-1917 J -J
Pitts tik
.11)
/
4
8
i001 100%
Ils)5 21ar1
/
4
Debenture 08
1909 M-N 100%
100 Nov'01
Stat 1st ity 1st gng 412s 1913 J
101 Doc'116
Registered
19010 5I-N
Beech Creek See NYC & 1-1
2 108 1091
4
1091
/
4
Debenture 5s
4
4
1921 A-0 1001 109% 1091
Bellev & Car See Illinois Cent
103 J'ne'07
Registered
1921 A.0
Bklyu & Montauk See Long 1
111141 13',
Sinking fund tleb 58
8
1933 M-N 1131 113', 113% Margit..
Bruns & West See Atl Coa.st L
Registered
112% 1.09
1933 51-21
Bulialo N Y & Erie Bee Erie
24
101
101
North Illinois 1st 63
..101'.
1910 M-S 101
1173 Mairgh•
8
Buffalo LI & P gen 'g 53...1937 M-S
k 119%1193
116% 117%
4
1103
MU L S& West let g133 1921 M-S 120 1203 1193
4
4
110 Mar'09
M-N 1093
Consol 4.2s
1957
,
109 110
115 Jan'09
Litt & imp stand g 58 1929 F.A 114
113%115
WU Jan /
1
4
)9
, AU & West 1st g 4a gu 191)8 A-0 100%
100 1(10
142% Et.0'02
2
Ashland Div let g 03 1925 M-S 123 4
8
103 J'ly'08
2943 J -J 1165
! 01& Mah lat gu g63
123 Jan'09
1!2'2%
Alich Div 1st.g 65
123 123
1924 .7-J
119 Mar'09
• Roch & Pltts 1st g 63 1921 F-A 119%
1183 119
4
Incomes
1911 M-N 102 10312 109 Sep'03
Cousol 1st g Os
)9
1922 J.0 121%122 121% Marge)
/
4
8
1184 12112 Chic Rock 131 do Pac
4
J -J 113% 114% 1137 Apr1
Banal.)& Southwest NUI Erie
Registered
1917 J -J 112%
89% 87%
Bull & Susq 1st ref g 1341951 J-J
2
87% 90
1 10
General gold 43
1988 J•J 100% Sale [O0' 100¼ 22 997
Bur C R & N See CRI&P
Registered
8
9104 9934
1988 J -J 1003
4
(
So 1st ext 6s ......
-.1913 J-J 1063 Salt 106% 106', ii 106%107
24
r'°1s
4
Reitintling g 48
4
1934 A-0 1123 bale 1%9 % lia1)24 269 vobe 94
109 103 1021 1021
/
4
‘..)241 58
4
.1913 81.5
102 103
Coil trust SeriesH 43 1910 M.N
98%. .
......
1021 WU% May'07
/
4
Registered
l
9212j o v
97 N Y
1913 M.S
96%
.1 45
1912 M-N
Oath& Shawn Sec 111 Cent
0412 Marg09
. .
Al us
94%
191521-N
Parolina Cent bee Seal) Air L
11334 93%
933 97% 93% Yob'ON
N 4s
4
1916 M-21
Carthage& Ad See N C& 1-1
99:2
tic, 95
113%
0 4s
1917
l'a & 11 See POI: .N
,
Ded
Augg)7
132¼ 961 84
P 4s
/
4
Cen Branca Ry see Mo Pao
79
4
Chic It I & Pac RR 43-2 18 51-N
79% Sale 783 Feb'094.: 4013
1002 4-N
9 (
116% Feb'09
Cent of Gm RR let g 6s-p1946 11-A 115
Aug't)8
Registered
11512 116%
200'2 51 N
Consoi gold 5s
4
131
1946 31-14 1093 110% 110% 110% 4 106%111
Coll trust gold 58
lit).2 Sale
1913 51-S
Registered
113 Apr'00
1945 5141
Bur Ced 11 do Northern
79
79
let prat Meows g 56....p1045 Oct
81
lb 79
110 Feb'09
Con let & col tr g 53. .1934 A-0 11.31s
80
Stamped
50 Mar'09
.
ttanteres, is;
Nld
80 80
120¼
oi
1934 A-0
2ti prof income g bs....p1945 Oct
68% 102 63
68% Sale 65
tl 1 .Nov'Uo
gu 53 1921 5-0 107%
681
/
4
2d pl et income z Sc stamped
Os
68
68 Sale
1 60
•
.51 & St L 1st gu 7s P.)27 J •D
65
Y-J
ISCELLANEOUs RON 1).---Con1imied On Next Vitae.
Street Railway
• Street Railway
F:trooklyn Rap Tr g Sc
106 104 102%106
1945 5.0 1053 Sale 105
4
Met St By gen ea leg 53.1997 F-A
1st retinal cony g 4s
2002 3.2
85% 572 81% SO.
851 Sale 84%
/
4
Ref g 43
'
1002
BkCity 1st con '66.1916 1941 J.J 102%101 10312 Mar'09
13way&?MAY letcg 561943 J-D
102%105
Bic Q Co di,6 e,on gu g 53 1941 M-N
•
Mar'09
9'7
Col& 9th Av lst gu g 53.11303 M-S
99%
Bklyn in El 1st g 4-56 1950 F-A 102%1023 1091 10214 43 100,, 103%
/
4
4
LexAv&P lstgu gos 1993 M-S
4
Stamped guar 4-5s
1950 F-A
10042 Nov'00
Third Ave RR con gu 46'2000 J-J
Kings Co El 1st g 46
87
87
1949 F-A
87
1 86
Cent Tr Co certfs staniod_.
87
Stumped guar 43
1949 F-A
87% 87
87% 10 85
87
Third Ave Ry let g 53..1937
8712
Nassau Elee gu g 43
82
1951 J-J
92 Sale 81
44 781 82
Met W S El(Ohio)1stg 48.1938 F-A
/
4
Conn ity & 1,let& ref g 44
101%102% 1023 Feb'09
8
0'51 J-J
192%102% N On Ry cis Lt gen 41 ..1935 3-3
•18
Stamped guar 41
.2s
8
1951 J -J 102%102 1017 AfAr'013
1013
4102
St Jos RyLt 1•1 & P 1st g 63'37 M.N
Den Con Tr Co let g 53 1933 A.-0
• J'ne'00
St Paul City Cab con g Gs_1937 J -J
Dot United 1st con g 4%3 11332 2-i
/
4
843 85 Alar119
4
Underground of Lou 63_19241 M-N
81% 85
Havana Elec consol g 66 1932 F-A
89 Mar'09
88 4 89
3
83
80
4123
.1933 J-J
nter-Met coil 4 .2s
1.11e A-0 78% Sale 78
79% 10111 id
81%
Income 63
11148
nter Rap T 3 yr cony 63.1911 M.N 103% Sale 103
103% tits 103 104
Union El(Chic)1st g 63 1945
ternat frac colt tr 4s 1949 J.J
72% Mar'01. S25 7212 72, United RI1.3 San Fr.f 43 1927 A-0
72.2
2
Ruda Elec 1st ni coil Ls 11)53 M-S
98 May'06
United Rys St L let g 46 1934 J• J
"No pr.oe rlaity; .stest L,,is weeg. %Flat aDua Jan 4 Due Apr e Due ...ay y Due J'ne aDue
s0,)u
ug
In
863
23 811 88
86
8
/
4
4
853 86
56 Mar'09
50
66
63%
103 10512
105 104 Mar'09
101
30 100 102%
100 107 101
100 102%
1011s 1021 101% Mar'09
/
4
/
4
66% 1 661 71
663 661
4
4
4
67 116 631 711
66 Sale 651
4
/
4
110
10 100 116%
109%110% 110
93¼ J'ly'06
3
70, '20¼ Sep'06
...... •
•••••
98 Nov'0
LOU
110% Nov'00
98 Apr'09
96
98
98
80%
8314 18 73% 831
/
4
I.3
.1
34 222 22
3312 Sale
34
84 Oct '05
4
70 14 '72
4
753 Salt. 743
76
86
4
/
4
851 853 86
8414 86
oDae out p Duo Nov a option saga
New York Bond
APR. 10 1909
BON Ds
;••11. Y.STOCK EXO H A N.IGE
Wiciai ENDING Amu.9
E
I-riee
Thursday
April S
Range
Since
sraftsuary 1
Weete
Range or
Last Sale
929
ite0Ord Continued--Page 2
I
Iveeic's
BONDSPrwe
Thursday I Range or
N. Y. STOCK EXCHANGE
Weak Etanzto APiar, 9
;
4 4, APril.
5
Last Safe
Range
Since
:c January 1
't
High No Low Righ Erio-(Con)
Ask Low
Eta
Chic Rock I & l'ac-(Con)
0
Y g us217 W
072 Sol 028 Lat ref 53.1937 J-J 104 108 1074 Feb'011 .... 107 1074
.
102 Ang'08
Oleo Ok &0 gee g 58.o1919 J-J 102's
4 liig
1
:'4
Ask 4 1 Dec 0 ----N"t°u1 il"14
Hid
111 111
1952 M-N 111 112 111 Apr'09
Consol gold 58
4
4
903 Mar'09 ..... 003 92 .
General evict 5,3
89
?
Pa • l'a
103 105
105 Mar'09
1923 A-0 1054
Keok & Des IL 1st5s
4
/
1141Dec'08
Terminal lat gold 5s...1943 M-NI 114
Cent
st L & 0 See
Ohio
Regis $5,000 each .1943 M-NI
Ohio St L4 Pitts See Penne°
102 I 1 1013410214
102 bal. 102
Mid ItRof NJ latg64.191 A9 129%1301e
,3
Ohio St P hi & O.eon 6s...1930 J-D 130 1303 130% 130
102 Jan'09 .... 101 102
4
/
1001
Wilk & Ea latgn g 58.1942 J93 Deo'03
4
/
8.1930 J.D 93
, Cons Os reduced to 31
.
'
1124Feli09 ... 1094112%
ftv& Ind lat con gu g 68..1920 2-1 112
- 1294129%
1294 Ja11109
Ch St.P & bliun lat gels 1918 M-N 1294
Erie & Pitts See Penn Co
Nor Wisconsin 1st 6&...1930 J-J 1264
12914 Mar'04
8
.. 113%1133
113%
Evans & T H let cons 64.1921 J114
118 Deo'08
St l'& S City 1st g 6s. .1914! A-0 116
4108 1021/4J'IVO
/
gener l gold 50......1942 A-0 1021
lata
4
/
11211 Sale 1121 1121 '2 112 112;
4
/
Clue& WestInd gen g641932
114 Apr'05
Mt Vernon 1st gold 6a. 1923 A-0 108'
964 4 96 98
4
261 Sale -OA
1952
Consol 50-year 4s
Sull Co Branch lat g56.1939 A-0 9614.,......,,, 96 J'ne'08 ..... ............
Chic & W Mich See Pere Marq
teargo & So See Ch M .50 *t l'
Choc & Gulf See CRI&P
L lint& Pere hi See Pere Mar
113 Oct'00
99
Cmii & D 2d gold 4%3_1937 J.J
Fla C& Penni. Bee Sea Air Line
95 103
4
103 Mar'09
Cm ii & I 1st gu g 5e 1941 NI-N 1051
105 Mar'98 .
Fort St U D Co let g 4%8.1941 J-j
Find & Ft W lat gu 48 g.'23 MN 78
lft W & Den 0 lat g 68.-1921 J-0 11514116 115% 11544 4 [1514117's
70 Ang'08
82%
Cin 1 & W let gu g 43.1953 J-J
88 Mar'09 .... 85
88
88
Ft W & Rio Or let g 46...1928 J -J ..4Jan'99
961
Ind Dec & W 1st g 5a 1935 J -J 102%
i 1fli Har & S A See So PacCo
4
/
10'71Deo'02
1st guar gold 54
.
.1935 J-J 1024
96 Sep '08 . ......
99 100
1.7ralH & Hof18821st 58.1913
e
I St Leib 0 Bee00 t)& St
Georgia & Ala Bee Sea A Line
Otns&O Ses00()St L
Ga Car & Nor Bee Sea A Line
Dlearnelti & Mah Bee B R & P
4
/
971 98% Georgia Pacific Bee So By
93 Mar'09
Cloy
C& St L gen g 4s1993 J-D 974
Gila V G & Nor ,See So Pats Co
1e
95. 90
96 Mar'09
95
Cairo Div 1st gold 4e...1931) J-J
,
Goat & Oawegat Bee N Y Cent
2 94
94
94
94
9314
,Cin W 8a M Div lat g 48.1991 J-J
4
/
4
7 9614 964 964 3 951 973 Grand kap& Ind See Penn RE
95
St L Div lat col tr g 48..1990 M-N
......
GraY's Pt Term Bee St L8 W
91 Oct '07
Registered
1990 11-N
4
9814425 9712 1,91
Gt Nor
-C B& Q coll tr 4a 1921 -2 984 Sale i 984
92 Pete08
ginr & Col Div 1st g 4a 1940 11-S 96
4
/
1171 9814 14 911499
RegisteratLit
98 Sep'06
9234
WW Val Div lat g 4a 1940 J•J
Greenbrier By See(Ike,4,01
105 Tan'04
192
01 St L do C cermet 68 1920 M-N 105
95 Oct'08
98% 98% Guir& S I lat ref& t g 5a 61952 3-1 ...-. 100
9814 Mar'09
99
1st gold 4a
k1936
97 (Jet '08
k1936 fJ.F 9738
Itegistered
101)4 1091
1094 Mar'09
4
/
Y1111% 11
8
S & CI con lst g 56..1928 J.J 1083
,
10434 109
1071 108 Mar'09
4
/
mock Val latoonsolg 4148 1999
4
1143 Sep'OS
0 C & I °easel 7s.._.1914 J-D 106
,
10(1% Sep
Registered
1999 .1-2
Consolsinkfund7s .1914 J-D
98. FeL)'09.
5
984 9814
(2e1 & H. V let-ext g 48 19 8 A-0 98
4
1
/
130 Nov'08
9
9
94
4
/
1281
General conaolgold6;3.1934 J-J
1)94
4
/
9111 b'el)'09 .... 97
6
0113
taa & Tol let ex 4s
14155 F-A
1934 J -1
Registered.
Houat E & W Tex See So Pac
94 J'ly'08
Inc B1 & W let prof 46.1940 A-0 94 101
lienzt& Tex Cen Bee So Pac
'
.d,1938
O 1ild & W let pf
103%104
104 Mar'09
44 93
95
negis r tx
lliRoim Cenedal let g 4s 1951 J-J 10041%
4
951 95
95%
5s..
t Pee & East 1st con 4a...1940 A-0 95
47
10714 Apr'07
10
47
47
Registered
56
1951
1990 Apr 45
Income 4a
4
/
1001 100% _05' 99141014
(when uss)
1955
N
RR
Olev & Marietta. See Penn
4
/
931 93% Dee'll
let gold 34
1
/
a1951 2-2
Cloy 317 Pitts See'Penn Co
9134 Aug'08
87 145 80
4
/
861 Sale 8514
87
7 91
Registered
5
1951 J -19
1947 J -J
Cot Midland let g 4s
4
943 Jan '031
4
94.4 943
8
4
/
4
1
/
•••
4
/
Extended lat g 348
1 A-0
1929 F-A 97 Sale 971 981 68 971 99
Dolora(L)& Son 1st g 48
6 115 9(33k 100¼
70 Lict '04
99
1st gold So sterling
1951 NI-9
1935 M-N 99% Sale 41914
4
/
Rotund & ext 41s
09
11104 1001
4
/
0
4
Coll'12rnat gold4sA- 1001 102% 10014 Marf
Lireenv See So fly
Colum &
1)8 ALay'07
Registered
Col & Dock Val See flock Val
99
1 91) 101%
Registered ,
LN 0& Tex goId 4a -1953 11- O 100 10114 99
.
95
119522 A - N
Col & Tot Bee Hock Val
97 May.07
Ja Term See.N
Col Conn
4
/
991 99%
1.3 8 4 u2
Cairo Bridge gold 4s. 1950 .-D 9913 100 'JO's
A.0
Conu & Pas Rive lst g 46.1943
4
/
901 hiar0
91
90
97
95
95
95 Jan'09
3
LontavDiveaTerm ga 413 1199558 11-N
1952 J-J
Dube RR lat 50-yr 5 g
......
123 mey'9,,
Middle Div reg Os
Ho Mee M & St
!nag & Gt
4
/
FF.A 179 80% 781 Apr'ub
05
Omaha Div 1st g Is
..
951
1921
t3Jallas & Waco See 51 K
St Louis Div.aterm g38 1951 J -J
80.4 70k, DecN915
79
Del Lack (11 Western
9
77 2
Registered
8,
09
..
J
4
/
1144 114%
-1951 j J
1141 Feb,
Morris& Essex 1st 7a 1914 M-N 114
4
/
901 Dee'0
8
8
117. 117% 2 117 117%
11315 -I) 1161
lat collar,' guar la
101's Oct
ei°ItIde&31;28tered
4
/
127 Pne'05
1910 J-D 11131
it Registered
100 Nov'0 .'
6,pring Div lat g 34s...199511 1:1
93.8 9614
119551
'
8`
/31/ 2
115
4
,
963 961 Mai'09
lat ref gu g 34a.. 2000 J-D
1004Jan'0 .::: 1 ;1001s
.
061
Western Lines lst g 4a..1961 F-A 100
11914121
.
8
Y Lack & W latl3s 1921 2-1 119% Sale 1191 1191
121 Feb'09
121 111
Bellev & Car 11t 68
1923 24) 119
8
1923 F-A 1123 Sale 112% 112% 2 112 112%
• Construction 15s
•9b Mar'09
98
98
.:-1
Curb & SliseW lat g 4a...1932 M.1
e
991 WO%
100
99% Apr'09
1923 M-N
Term do improve 4e
4
/
4
/
1191 Fet)109 .. 11911192,
::
18
198
Chic
St L & N 0 g 5s. 1951
Feb'03
114
Wirrren latref gu g 340 2000 FA
110 119
119 Feb'09
8
121% 121% 1 121%1213
Hutt let Pa Div 76 1917 M-S 121%
Del &
90 Feb'09
90
00
G e istlas
liord a ered
95
1951 2-1) 117
149 Aug'01
4
/
Registered
1917 11-S 111)1
100 Mar'0
Memph Div let g 4s. 1951 1.-D1) °°
4
/
1913 M-N 1021 Sale 1024 1094 20 101 102's
1at&rct 4s
118
St L Son let gu g 43
1931 A'S
4
/
1011 Sal. 1011 102% 51 100 102%
4
/
i1.0-yr cony deb 48
1910 J-D
101 1031 Did B1& West See00061,St L
4
/
8
4
/
•elst hen equip g 4las
1922 -J 103 1031 1031 Miu'Ou
98
98 Apr'09 ....' 96
97 98
1950 J-J
99's Dad Ill & Ia let g 48
4
/ 1)84 1. 97
981
Alb & Sus cony 34s
1940 A-0
5,110 112
1114 112
Int & Great Nor let g 0s 1911) M-N 110
......
129 Nov118
4
/
Rene & Saratoga let 78 1921 MN 1281
71-S 90
8014 Mar'09... 85 87
20 gold 5s
1909
Del HIT RR Bridge Bee Pa RR
4t3 • 60 Oct 't),
3d gold 48
4
1921 M-S
/
981
OS's 4 90
96 1-1 Sal. 96
Deny & ii Or 1st ooti g 43.1936 J -J
4
/
109 F 0,109 1111
Iowa Central let gold 55 19' .1-1) 109 110 109
10314106
193(1 J -J 103 106 1034, Feb'09
,
''.Conaol gold 4 25.
Ai- S 794 80
4
4
/
791 7914 10 783 82
Gold 48
• 101 4 1U3¼
1951
4
/
10212 103 ka 1021 Apr'09
Improvement gold 5a 1928 J
4
4
/
1)4's Sale 941 943 l'il 1)2% 9514 Jenerson 11111111Bee Erie
1955 F-A
1st & refunding 5s
il al A & G R See .L. S Jo M 6
98 Feb'08
......
gu g 58 1931) 2-0 100
Pao Cir J une
13,- an & alich See Tot da Q C
70 Dec'05
1940 J -J
Rio gr So 1st gold 4a
K C Ft S & al See StL& S le
85 Mar'08
-J
1940 J
Guaranteed
,
4167 97 Mar'09
95 100 8 KC& hi B&B Me St Lc%83
: Rio Gr West lat g 48._11134! J -J
Kan C & Pacific See M K 80'E
4
/
4
/ 851
851
87
83
i hige a uti col trust 48A.1949 A-0 86
4
:
7318 3- " 724 751
Kan City Sou let gold 38-1950 A-0 754 Sale 75 1
97 Jan'02
......
Utah cent 1st gu g 4a ar317
'
63 Oct'00
Registered
1950 A-0
pea aim (3 1) Bee M d, St L .1-14 1051 107 110 Sep '04
Kentucky Cent nee L .is N
4
/
lty 1st g 5a 1917
Des Moi tin
Reek Je flea Mo See C it l&I"
35
95 Jan'09
93
Dot & Slack let lien g 46 1990 .1-1) 92 100
Knoxville & Ohio See So fly
at)
90
4
/
3 88
1995 2-1) 881 90 , 111)
(401d 43
114 Mar'09
112%1144
2
, d iC ht s
1 akogoriep W lat g 58 11)37 2-2 113
Detroit southern
4
/
1074 Mar'09 .... L071 10'72,
82
Mar'09
1041 J-2 107
80
Ohio Sou Div 1st g 48_1941 M-S 804 83% 82 Feb'01)
4
/
4
/
North Ohio let paa g os..11)45 A-0 113 1144 11334 Mar'09 ....11121 1141
114 110
4
/
Dui & Iron Range lot53 1937 A-0 113 1141 114/Mar'ur
L She & Sticks See N I Cent
4
1001
1937 A-0
Registered
4
106%108
Leh Val N Y 1st gu g 448.1940 J-J 108 10314 1073 Mar'09
1916 J -J
2,1 (la
108 Oct'08 •..
•-• ......
Registered
1940 J -.1
Dui Short Line See Nor Pao
4
/
97
971 1 117
4
/
[1014110', Lehigh Val(Pa)0011.1g44.201/a M-1, 0! -e, 971 1174
110% Feb
Del So Shure & ALI g 58 1937 J -J 111
1164 118%
Lett V Ter Ity 1st gu g 53.11441 A-0 1184
11314 Apr'09
vast ot Minn NeeStP hi & hi
40.A '99
/
1001
A-0 1154
Registered ..,
See So fly
Va & Ga
4
1
107/J'iy'ut
1933
4
/
L121 1124 Leh VCoal-Co lat gu g 56.1941 J -J 108
4
/
1121 Peb 09
Mein Jot & East 1st g 58.1941 M-N 113%
97 May'08
Ldll & N Y let guar g4s..1940 NI-S 933
a
Elm Cort & No See Leh& N
Registered
4
/
991 hi ay'08
1947 NI-N 100
Erie
ext gold 48
4Jan'Ob.
/
1131
El 01 & N 1st pf 6a
'
1145
19 " 't-S
1051106
106 Har'u9
4
/
8
1(153
20 ext gold &s
1919
4Jan'Ob
1051
Gold guar 5s
iriti A111441044
10412 .11'431.elk.
4
/
:ad ext gold 448
1923 ,VI-S 1041
Leh & Ilud It Bee Cent of N J •
1051s Nov'08
A-0 105%
1920
ext gold 5s
Leh & Wilkes b Bee Cent of N J
97
97
97 Jan '04!
,
f5th ext gold 4s
1928 J -1) 97 4
.
12218 1241 Leroy & Caney Val See Mo P
124 12214 Mar'09
;18t con3o1 gold 711
1920 NI-S
Long Dock Bee Erie
122 121 vet '08
let clmsoig Lund Is
1920 31-6
111 Jan'09 .... 110 111
13.,
.
4
/
ill)1 Long DiPit-lst con g 5a.h1931 i-j 1,
8714 11, 85
874SaJe 874
,Rrie 1st con g 48 prior 11390 J -J
..... --.... .
let consol gold 4s
79 Jan'Ws
h1931 -J
itegnitered
1990 J -J
tot
964i."falliis;
98
General et) d 48
744 18 0) 771
1935 -12
4
/
4
1
/
Sale 74
744
let consul geu lien g 413 1990 J -J
10014Aprqh, ""... 14)4)1210w,
Ferry gold 41
1922
4
/
s
851 Feb'07
4
/
Registered
199(3 J -J
......
Gold 411
4
4
/
794 1 751 851
794
Penn coil tr g 4,
1951 F -A 79
I
0g - 1
11)1 :11-1
98'.2 96
4
14 1
1 91 Veo;L .
4
/
771
, ..
Unified gold 4-0
12 63
73
1953 A-0 73 Sat. 72
50-year cony 48 A
4
/
1041 Dec'Ot,
J-D
Debenture geld 58
1934 61-16 11090534
4
644 86 574 69
Series 8 1953 A-0 644 sale 633
oc
.
.
WI; 99
Guar ref gold 4a.
1941) M-S
115 115
115 Mar'09
& Eno 1st 78-11)1(3 2-i) 115
Buti
08
1
4
98
Bklyn & Mont 1st g 68-11)11 WS 10 :8315 96
4
/
1
Chic 4.; Lrie lat Rolla 53 1082 MN 1104174 1161 11614 a 115%117
10134 Deti'Lle
Dill M-S 101
1st 5s
121 Deo'08
Clev & Mallon Val g 58 1938 J -J 110
4
/
1101 Nov't)6
4
/
127 1281 , N Y 11& AI B lateen g 58 193b A.-0
12814 Mar'01)
.Long Uocit comae'g 03 1935 A-0 128's
105 Apr'07
1027 51-8 11.10
N Y & JIB let g 5s
120 120
120 Mar'09
Coal& RR 1stcur gu 68 1922 M-N
Nor Sh13 latcon ggu1s o1932 Q-.7 107 1011 109 Nov'Ob
110 Apr'09.... 106 110
•Dock & imp let car 66 1913 J-J
99
98 1 10- 98
108 108
Louisiana & A.rk 1st g 5,8.1927 11-S 98 Sale 98
108 Mar'09
Iii ec Green L gu g 58 1946 NI N
1
.
'10;
,. 1-1:litait'atelie
••••
•
•
.....
..,.•
i
let rat 4s
i
:
k
• -
k
ttrf l:
.
•
,
......
•
•
. ......
•
•-
MISCELLANEOUS HONDS--Continned en Next Page.
Gins and Electric Light
Gas and Weenie Light
4
1023 105
,
Lae GasLofSt Llstg 56.61919 Q-F 10414105 1041 Mar'0
4
AtlantaG L Co lat g 56-..1947 J-D 1011
..
4
41011
/
1001
4
/
11)34 A-0 100's 1011 101 Apr'0'
4 1.03..
Ref and ext 1st g 5s
41 1064
10'7
107
ktyi L1 Gas lat con g 66 1
101% 2 100%101%
N YGRLIi&Pg 5s 1948 J -D 101% Sale 101
119 124
121 Peb'09
Cony i;euen Os
1909 M-S
2( 834 86
4
/
egi.,
60
Purchase money g 4a 1949 F-A 86 Sale 851 86
Mama,Gas st g 58
1947 A-0
6314 Mar'09
100 100%
10
8
1001
Ed El 111 lot cony g 58 1910 NI034 Apr'09
165 Dec'08
0ontwiseonvdeb8s,_190l) 3-,)
111 Mar'09
111 111
1995 J..! 111
leiteonsol gold 5s
4
/
101% 101% ii 1001 101%
Detroit cay
g As
1923 J-J 1014
97 MeV°
97
97
NY&QRIL&P listcon g 561930 F-A 96
9534 Sep'08
ma
DelI Co oon 1st g 5a 1918 F -A 100
1(10 10(1 Dee'0
N &Atoll Gas lat g 56,1921 M-N
96 Maxilla
Eqo LA
let con g56 1932 N1-8 103%
.
104% Nov10
Pat & Pas Li &E con g 58.1941) FA.
614 Oct'01
Liu& Mee Berg Co c g 53 11)411 3.1)
..
1111 121
80
PerrGaa & C let con g 68 104a A.0 121 123 1204 Mar'0
84
8241tar'09
hen Electric deb g 3148_1942 F.A 80
4
4
1947 M-S 1t1)3¼ 1033 1033 Ape()
10214101414
Refundi g gold 5s
72 136 141
,10-yr g deb 53
1917 .1-1) 1404 Sale 139% 141
•
4
/
4
• G-L & Okelat gn g 58 193'7' J J 1033 1041 103% 103% i 103 104
101 10714 Dee'00
hr Rap Li L. Co let g 5a 1915 F-A
Tn.d Nat Gas& Oil 30-yr 56'36 M.N
102 rly'08
ndson Co Gas let g 38 1941) M-N 104
10114108
Con Li• Coollib let gu g 58.'36 -D 102 103 103 liar'0
99 Dee'06
98
an City(Me)Gas lst g 531029 A-0 116
101
101 Nov1)9
Mu Fuel Gas let gu g 58.194'7
Ines co ea L & P g 54_11)31, A-0
Syracuse Lighting let g 58.'51 J -I) 97
100 100
Enrollee.)money(is
199'7 4.-0 114 116¼ 100 Jan'09
110 hia.Y05
Tr.-riton G & El 1st g 53 1949
88 Sep 'OS
90
B4113:1111ilculpteoe as 1939 24
14)2 1.).2
1024 Mar'09
9214 Westchester Light'g g 56.1950 -0
92
92 Mar'09
VS
92
Milwaukee lies L let 48 1917 NI-N
0 Due yes q Jae ...et) 4 uptuni eau.
*Ay price eratity; latest bid and :Liked Ulm week- a Due Jan 5Dee sob it Due pr e Due slay It Due ..41.7 re Liao _Jag
i
New York Bond Record-Continued-Page
930
BOND:.
4
1
/N.Y.STOCK EXCHANGE
WEEK Eztuixo APRIL 9
4a;
Daisy &, Natilay gen g 614.193( J -D
7
3 M-N
9aoli1 5s
1941 J -J
Untried gold 4s
1944 J.J
Registered
1911 A-0
Sink rand gold tis
1931 31-N
Coll trust gold 58
1%.7ash 1st g 63- 1911 J -D
&
Cin & Lex gold 412s-1931 31-N
N 0 it M. let gold 68-.1934 J•J
1934 J -2
0 & M 241 gold Os
.N
Pensacola Div gold 6s 1921 M-5
1921 M-S
'St .1., Div let gold lift
1981 M•S
i 28 gold 38
Atl Knox & Cm div 48 1955 M-N
1
,
At. Knox & .Nor 1st g 5511/40
,Hencler 13dge 1st I g 68.1931 31-S
Kentitcky Cent gold 48 1987 J -J
5
2
/
I L&N & 31 & Ditg41 1945 31-S
L& N-south K Kant 48.1952 J • J
.1937 le-A
N Fla & 1st gu g
81945 J - J
2
/
6s.N&C Bdge p,en gu 9741
Pens & Atl 1st gu g 68 1921 F.A
S 26N Ala con gu g 58 1936 P-A
gu g 48-1945 M-s
L & od Bage
L N A & Cli See 0 I it
N/1 ahon Coal See L & M S
DA an tiattau Ry cousel48.1990 A-0
1491. A-0
Registered
Stmpd tax exempt 1990 A-0
Cent
kfcK'pt & 13 V bee .N
Rex Cent cons g 4s trust recta ....
. Dm cons in° g 3s trust rects
28 cons inc g 38 trust recta..
Ilex Intermiat 1st con g 48.1977
Stamped guaranteed....1971 M-S
Rex North 1st gold 68.-1914 J -D
Rich Cent See N V Cent
Kid of N J See Erie
Mil L it W Bee Chic N
hit ea North See Ch M & St P
& St 1, 1st gold 78 1027 J-D
If
1909 J-D
• Iowa Ex let gold Is
Pacific Ex 151 41018 6s 1921 A.0
;South West Ex 1st g 78 1910 J -D
1934 31-14
'1st °tinsel gold 58
1st and refund gold 48 1949 M.S
0 Des M.& Ft I) 1st gu 46 .'35 J -J
Kinn & St L gu See 11 C R & N
61.13tP& SSM con 144 intgu'38 J.J
IiSS.31.&.A.1stg 4 iutgu 1926 J -J
&M
Kinn Un bee St, P
Ito Kan & Tex lat g 4s 1990 J.D
g.i9110 le-A
28 gold 4s
1944 31•N
:1st eat gold 58
2004
;1st & refund 48
1936 J -J
!Gen s I 4's
2001 A-0
St L Div let ref g 4s
• Dal & Wa 1st gu g 6s 1940
Kan (I ..f3 Pao let g 43 1990 F-A
.310 K & N. 1st gn g 58-1942 A •0
1942 M-N
M K & Ok ist gu 5s
• M.K &TotT 1st gug5s 1942 31-S
.• Sher:3h & So 1st gu g 53 1943 J -D
• Tex & Okla lat gug58 1943
Mo Pacific 1st con g138. 1920 31-N
'Trust gold be stamped.:a1917 31-8
al$117 31-S
Registered
1920 F-A
• 1st coil gold bs
1945 M-S
40-year gold loan 46
1938 3.1-N
,311 78 extd at 490
Cent Br Ity 1st gag 48 19111 41 -A
Ceu Branch U P lat g 48 1948 J -it
Leroy& C VA Llstg58 1926 J -J
'Pao of Mo 1st erg 48.1939 F-A
28 extended gold 5s 11/38 J -J
bigen con g 5511131 A-0
• St L Ir
Gen con stamp gut g 681931 A-0
' • Unified & rot gold 4s 1921) J •J
ltiv &(4 Div 1st g 48 1933 M-N
0' Verdi V I do W 1st g 58 11126 91-S
Hob J & K C 1st cons g 53 11153 J -2
Mob 61 Ohio new gold 6s 1927 J D
1st extension gold 65../1 1927 Q-J
, .1939 M-8
• Generai gold 4s
Moutgom Div 1st g 58..1947 F -A
St L & Cairo cell g 4s..e11130
1931 4
Guaranteed g 4s
• M & 0 coil 45 See Southern
Mohawk & Mal See N 106111
Monongahela Ely See II &
Al
Mont Cent bee St P al
Dlorgan'a La & T See S P Co
Morris & Essex See Vol L& W
Mash Chat & St List 78.1913 J -J
1112,8 A•0
LI 1st collard gold Ss
Jasper Branch 1st g 68-11/23 J.J
W & Al lst 68 1917 J4
McAl
T & P Branch let 68., 1917 J -J
Nash Pier & Shot See 1:it N
Nat of Alex prior lien 410.1926 J -J
1951 A-0
let consol 4s
2
/
Nat Rys of Alex pr 1418 11157 .2
1977 A.0
Guar gen 46
Newkl&iI See N 1: H &
NJJunckCE b'ee N Y Cent
N T Bkln do Man Boh See L I
8
2
/
Y Cent ot it Itiv g 31 111117 J • J
1997 J -J
• Registered
1934 N-N
Deben g
s 19118 F.A
2
4s. /
; Laic()Shore cell g 31
1.18/8 F-A
Registered
1911t4. F-A
s
2
1
, Mich Cent coil g 3/
; Registered
1999 F-A
Beech Creek let gu g 4)3 11/36 J -J
Registered
1936 J -J
28 gu gold 6s
1936 J -J
s
Beech Cr E x t 1st g 31 61951 A-0
2
/
Cart & Ad 1st gu g 48...11181 J .0
Price
Thursday
April8 •
Week's
Range or
Last Sale
Range
SInce
January 1
BON IP,
N. Y. STOCK EXCHANGE
Wc ENnixo APRIL 9
Btu
AsA
1.26 117
4
116 1103
4
1013 bale
.
4
;001
101
110 111
2
/
1111
2
/
1071 ....
125
119
Low
Riga
2
/
1161 1161
2
/
1103 Mar'09
4
101
4
1013
2
1
1.01/J'ly
106 J'ne?08
2
/
1101 Mae°.
111 Jan'09
4
1073 Feb'09
1243 Mar'09
4
120 Jan'09
2
/
1071 Aug'06
117 May'07
114',
6212 Ang'07
98
75
901 9,513 963
8 ;
6
2
/
961
2
1
/
113- 116 116 Jny'06
110 Jan '09
2
/ Mar'011
981 991 981
2
/
2
/
2
/
103 Deo'04
1041
1/1 Apr'00
110
91
4
114 1151 Mar'09
1051
21061
/
2
/
lir) Jan'09
.6
14187
2
/
1151
4
2
/
94. 943 941 Mar't)11
.43
r
8
Price
Thursday
April 8
[VoL. Lxxxvait.
Week's
Range or
Last Sale
Ilia
Ask Low
Low Hign N IC Cent & 11 R-wantinued.
_High No
1161 1171
2
/
Gouv& Oswe 1st gu g 5s 1942 -1)
2
/
2
/
8141
110 1163
98 Alat'Ob
4
Mob & Mal 1st gu g 4s..1091 II-S
6
943
21021
/
105 Oct '02
1001
2
/
J June 13 git lot 4s...1986 F.4
4
921
9614 Oct'08. 2000 M-N
2
/
N Y & Harlem g 31
2
/
N Y & North let g 5s...1927 A-0 110 1171 107', Aug'06
2
/
4
100 Sep I/1l083 1101
N )4' & Pu 1st con gu g 4s 1993 A.0 95
111 111
Nor & Mont 1st gu g 58.1916 AO
2
/
1301 1311 Jan NM
l073 1073
2
/
4
Pine Creek reg guar 68.11132 J -D
4
2
/
1241 1243
4
II W&0con 1st ext55./4.1922 A-0 110%112 110% Feb'06
105 Jan '4)
120 120
,
()ewe & 11 241 gu g 5s...91915 P-A 100
M-N
111
W&OTR 1st gag 58.1111/1
103 Sep 1)..,
Rutland let con a 413..1'341 .1 •.1
2
/
91
93
93 Dee'11t
Og&LChatu lst gu 48 g194.9 J.2
4
903 Ja9
95
2
/
961
Itut-Camul 1st gu g 48.1949 J -J
115 Pob'011
St Law & Aclir lat 9, 58. 1996 133 125 Ife4j'ut4
110 110
19413 A-0
28 gold 6s
1031 Dec'Us
2
/
96
4
983
Utica & 13Ik Riv gu g 48.1922 J -J 101%
2
/
1151 95
93% 7
2
1
Lake Shore gold a/
34....1997 J-D
2
/
951
2
/
2
/
2
/
*88**
1997 -1) 931 1141 931 Mat'uu
Registered
95',Sale 961
2
/
96
2
/
1151 1151
2
1928 M-S
/
Debenture g 4s
953 Sale 953
4
8
95% 103
1931 3/I-N
25•year g 48
2
/
109 109
Ka A 61(1Klat,gn o 68.19 1 J-2 1101
38
2
/
109 Oct '07
2
/
1121 115,
9
Mahon 0'1 RR let 58 1934 -3 1131
400 May'06
941 941
2
/
Pitts & b Erie 2d g 5s.a1928 A-0 102
2
/
1261 ..... 1301 Jan '141)
2
/
2
/
Pitts McK & Y 1st gtt 68 1932
2
/
28 guar 64
1934 J .3 1261
2
/
9.95 933 991 100
8
4
2
/
5 98 100
McKees& B V lstg 6s 1913 -3 1101
8
101 Feb•05
104 Apr'03
97
Mich Cent let consol 68 1909 31-S 1007
2
/
4
2
/
1143 Oct 'OS
100 Sale 1001 1001 66 9''¼100'c
55
1931 MI- S 115 12
119 J'"1/0
(3-M 112
Registered
1931
2
/
2
/ 41$t 11 82
8812 Salt 871
4 1091
8
1001
1195
681
4
/
4s
1940
4
963
2
/
1061 Nov910
8
265 26
26
9l 12 26 4
3
Registered
1440 -2
110 Pue448
24
25
8
4
235
233 108 200 24's
4
li-S
2
18
J & S 1st g 3/
95
1951
,
110b8 Ply '01
8
4
/
921 925 Mar'09
M-N
lot g 3/
8
2
1
80 leb'08
13nt 061 Stur 1st gu g 38.11)89 J -D
.....
2
/
99 105 Morov
..
N Y Chic& St List g 43 1937 A-0 101%102 1011 Apr'011
100 sap '08
A-0
Registered
2
/ 94
931
72
94 sale
19%1
1931 M-N
37
2
/
2
/
2
/
West
W-Desetb°Snhteurrees.161t'' gu 236 J -J 103 1031 1031 1031 '24
3 1
6
2
/
1021 14)
J.J 1021 Sale 102
4
reen
Registered
N. F (.4u
2
/
1331 Feb'09 • - • 1331
2
/
1321 •
213312
/
Lake See Erie
1441 Dec'08
N Y & Ear bee
Y 0 do Una
118 Jan '07
107
N Y Lack & W See D L W
11314 blar'03
See Erie
NYLE&W
4Mar'09 •• 109 1111 N Y& Long Br See Cent of N
2
/
1111 1103
2
/
4
-85
6
2
/
4
/
853 853 Mar'09 ••-• 841 871 N Y N Ii & 34-Cony 68.12g J.1 1351Salo 1341 1351 115
4
4
2
/
g 58 1,37 J.J 103 Sale 101
117 Apr'06 -•2
/
881
103 Tz5
1.18%Dec'0.
11-N 118
2
/
2
/ 901
99
091 991
9918 100
2
N 11 & Derby con cy 50 1918 M-N 107
99 Mar'();) •... 9'2
119
N
& .North b'ee N Y 0 et
99
14
*
99 Sale 983
N Y 0 & W rof 1st g 43.41992 11-S
2
/
1001 13 935 100%
101%1'w:4'0U
4
/
100 1001 100
S
6
Regis 35,000 only
g1992
87
16 863 883 N Y & Put ..9ee N Ye& H
4
/
4
2
/
861 871 87
4
,
f 1041 1091 N Y & K S See Long Island
4
1
/
1082 Sale 10834 1083
2
/
2
/
8776 27 833 871 N Y & W SeeErme
8
2
/
871Sale 863
8
2
/
0
91 12
917 It 901 11376 N Y Tex & 111 See 8.2 Pac Co
4
2
/
913 Sale
2
/
88
2
/
801 8111 Mar'09 •..• 811 891 Nor & South let g5s
2
/
991J'ne'Ot
2
/
2
/
1941 M-N 101.
2
/
2
/
1271 Mar400
110 1091 Mar'09
2
/
1091
2110
/
Norf & West gen g1311
1931 M.N 1271
4 93
93
1211 Man/11
93 Sale 93
Improvein't & ext g 68 1934 F.A 1.27
93
Now River let g 6.s
2
/
2115 114 Mar'09
/
2
113 1141
1141
/
19s A-49 127 1281 1281Feb -01,
2
/
993'6
l 108 112
III
4
911
111 Sitio 111
11
N & W By 1st eon g 46.1906 A-0 119 :isle 983
109
91 Sep '07
4
1083 109 109
98
11/6 110
A-0
2
/
931 3
4
4
/
14
110 1111 100',j'ne'08 •..
1)334 Sale 933
g1
ltiv 18tste
De' 1e1.16 gen g45--.1944 3-2
971t
2
/
1111 Feb'01/ ••• 108 1.11%
.
110
8
10-26 year cony 48
1932 J-1) 977 Sale 97%
2
/
Pocoh C & C joint 4s 1941 J -D
2110
/
91.12 Sale 91', 911
4
1143 115', 114',Illar'49 • •.. 1131
4
1094. Feu'ue
4 10214
4 1001
g ba
2
/
21025
/
8
CC& T 1st
1024 Salts 1021
1922 J -J 1031
2
/
1041 Feb'07
2
1
96/ 1/8 14 197 Mar'4/5
Scio V& N Ii. lst gu g 4e 1989 31-N
2
/
1031
2
/
103 1031 103
101 103"2 North Illinois See Chi et N
2
/
84
74. 783 851 North Ohio See L Erie &IN,V97
84 Sate 531
4
2
/
2
/
95 Mar'08
2
/
2
/
951
102;Salo 1021 1031 413
Nor Pao-Prior lien g 48-1997 Q
95 Feb'01.4
2
/
Registered
1021 1021 102
2
/
921 04
2
/
P•••
89
95
ci•J
89 Mar'09
2
1
75
gold 3s....a2047 4-/
2t,
eg
39
a 047
91
G eteral h
2
/
'741 Sale 74/
110 Mar'06
4
'743 Mar'09
D uitip v
Iere
t) 733
ve
4
097 Alar'911
2
/
g 48.-1996
•.•
2
/
1001 10()% 1001
lt
2
1
/
90• 1001
4
113
113 Sale 113
DSttuPeisi
gul
Short L 1st gu bs 191e M-S
'
2
/
1121 113
2
/
32 1.11 112
11114Sale 1111 112
C 13& Q coll tr 4s 8ee Gt Nor
1115 1115
8
6
121 Mar'09
8
8
1115 111% • P & N P gen g 68 -.1923 F -A 1201
90
Rogistered certitic's 1923 Q-F 1201 121 12U 91Feb 04-'
4
'
00 Sale 90
'2 86
9012
90106630 9012
4
/
901
11714 J '13''07
St Paul it Dul let 58
831 91
2
/
2
/
1993171 b'-A 1121
107/Apr'Oti
2
1
104 Feb9):
A-0 1041
2
/
99 b'eb'llt)
98 Dec'06
65
60
99
21t5s
11 co nsol gold 48
1968 J
2
/
991 Jan '01.4
031,
124 124 Mar'01
Wash Cent 1st g 48
1191 125
2
/
1948
2
4
/
1161 Mar'05
4
/
4
1173 1191 1173 Mar'00
Nor Pao Ter Co let g 6s 193S -J 11(31
2
/
117 118
89
90
90
48 861 90
Nor Ry Cal See So Pao
2
/
112 112% 11212 Feb'09
&0
112121121 Nor Wis See St P
2
/
75 May'Ut
86
Nor & Mont See N Y Cent
96 101 Nov'04
lud& W See C C & St L
98
k/hio Riv RR See halt & U
Ore & Cal Sect So Pao Co
Ore Short Luie See Cu Pao
Oswego & Rome See N YC
C it St P Bee it N W
.
2
/
2111 1091 10914
/
limo Coast Co let g 5s
1946 Job 1091
2
/
1121 112 Mar'09
i
112 1121 1 ac of Missouri See Alo ;ac
2
/
2
/
1131 1131 6 1131, 1131 Penn R R let real eat g 48.1923 13-NP
2
1131
/
2
/
103 1031 103 Mar'09
2
/
2
2
/
1119 12 Jau '115
1161 May'07 .
2
/
Consol goki 5s
1001
2
/
....
2
/
4
1171 Mar'05
CO11801 gold 4s
105 1011 104 Mar'011
2
/
4
113 J'ly'04
Como)! gold 48
2
/
1948 MN 1051 eau. 1011 1053 71
99
4
99 Sale 1183
64;
Convertible g 3128
1912
DU,,
Convertible g 3128
102 Salo 102
2
/
961 Sale 96
102
16 102 102
9'2 J'ne'V,
83
Allog Vai gen gu g 48 1945 .4,4-1 100½
84
.S
912 j )
4
b33
84
41 80
8
115
95 Salt 927
95 501 921 95
D B. R R & Bge 1st gu 406(936 P-A
2
/
2
/
1031 Mar'01
Phila Bat & W 1st g 4s. 1943 31-N 10:31
2
/
•
4
831 Sale 86
881 07 84.3
4
/
881
2
/
sod Bay & So 1st g
102 Jan '03
97
J -J
1(14 'Mar'010
U N J RR do Can gen 49.1944 41-S 1043
4
106 Mar'09
-Guar 1st g 412s.1921 J -J
Penn Co
62
11137 'ly'07
2
/
031 Sale 03111
4
4
/
931 68 023 94 14
,
90 A J'n4906
ltg e coll
e
12
/
021 921
Guar3tsred trust reg.11/27 3- S 90
4
1 931 j
2
/
92)4 5 921 933
4
2
/
1)01 Mar'05
s
2
/
Guar 31 cell tr ser 13. .1941 F-A
94% Salt 945
2
69 935 910
95
s
2
/
2
/
971 971 Mar'09
97
2
/
84 Sale 833
8.1914. if-N
'Pr Co certIt's gu g 31
2
/
851
2
/
841 61 84
4
891 Pet)'09
2
/
2
/
9
Gu 31-28 tr ctfs C
803
82
2
/
841
82
83', 821 Mar'09
1)31 90 12111ar01
r215s5
4
Gu3
Oinirm1/2185a.tr ct
2
/
931 84
833
84
4
843
25 83
4
gr
98% 983 Marl)
la p g 4, 8 19 5
ceao g 489 " D
4
N
O
1
.i1:3:
. 19 4
8212 Apr'09
.
b2 1
82
110 .11in '05
1003
4
4
1003 1003
3
10113 ..
4
4100 4 1003
, 0161
vi r gen gu g 4/ ser A942 J.4 1101
2
1
4
2
/
8
4103 Jan '419
102 Mar'04
6
1942 A-0 1107
105
( 2
5
2
/
,
981 Dec'05
1)3 1
Ser t s 3 31
8e ies ) /
1948 .8.-N
s
2
/
Series D 31
2
/
90 May'08
1950 P-A) 931
Range
bince
January 1
Low High
......
......
1911 1311
2
/
2
/
4
8
1105 1H/5
4
34)3
115 115
8
915
931
2
/
:15
95
95.5
8
2
/
941
97
8
965
130/13012
2
1
101,
101
2
1
100/10014
911 92A
2
/
0
HA//
21021
1
2
/
4 8
913 94
103 1041
2
/
2103 A
/
1011
,
4
1333 1351
2
/
I2 103
.
09 1 4
98
127',128
129 129
1281
2
/
21281
/
91)
102%104
101 103
75
73
4,
723 '743
4
0
1/77
2
/
1201 121
1201
21201
/
2
/
104 104
94)
1/9
2
/
,
92 2 921
L193 1161
4
2
/
1091 110
2
/
103 105
2
/
21091
/
1091
1031 1041
2
/
2
/
1041 1051
2
/
2
/
6
17', 993
2
/
1)41 963
8
1031
21031
/
2
/
101
104
104
100½
901
4
2
/
961
5914
2
/
991
1/8546
2
/
901
2
/
971
4,,
)61/1
9012
99
110' 11U
..
311SCELL ANEOUS HONDS-Coutinued on Next Page
Telegra9h and Telephone
Coal and Iron
95 Sale 941
85 91% 96
4
95
8
.
967 95 Mar'09
94 1001 Am Telep & Tel coil to- 48 1929 J-J
Col F & 1 Co gen a t g 50..1943 F-A
Convertible 45
2
21031
/
8
4
/
2
/
1936 M.S 1021 Sale 1177 1031 8341 921Ivo/
871 57¼
2
/
Convertible deb g bs....1911
2
99 4
Mich. State Tolep. 151 58 1924 F.A
g
2
1
98/ 99 14111 Feb'99
4
/ L71e ni(
114
0 Ccl b'uelCogengold681919,;f1 971 I12t:
.
1.
i
4
/
981 4171 06% ii81
6
98 Sale 97
Pac Tel & Tel i st 6s J M roe J-J
11/2% Apr'06
Gr Riv Coal & C 1st g 6611119 A-0
Union col to- cur 58.1939 J -J
2
1/1)
/
991 11 ihs% 102
2
/
95 Apr'02
991 bale
Cleart Bit Coal 1st s t 4s...1940 33
4
60 933 963
4
95
2
/
941
2
/
731 60 71
2
/
2
/
.P8 and real est g 41
2
/
721
941 95
8_1950 3.11- N
Col'tutu 1st& colt 5s gu..11134 P-A
77
2
/
801
4
86
51 84
Cony 45, Series A
107% Dec'04
4
853 Sale 853
1936 11-N
Contin'tal C 1st s t gab's g.1959 F-A
1110 Mar'09
95 100
Slut Un Tel s Lund 6s 1911 34-2 100
107 Mar.97
Jell & Clear 061 I letg 58.1926 3.1)
'31.ml:wooing 99 Industrial
143512 Dec'06 -•
Kan& II C & C 1st s f g 5)3.1951 J-J 1001/2
......
6
835
Allis-chalmers 1st Ss
4
2
/
2
/
831 Sale 823
831 111 80
105 Oct '00
1930'-3
Pleas Val Coal 1st gs 48.1928 J -.1
f
2
/
2
/
30 1)6 1001
78 Fob'07
1928 A-0 100 Sale 991 100
Am Ag Chum let c Is
79
Sunday Creeg Co g 58....,1944 J. J
2
/
971
96
2
/
s
2
/
971 Mae)).
2
/
2
/
2
1914 4•1/'
/ ,
10214 1021 1021 32 10 L21031 A.o Cot oil ext 41
Tenn Coal gen 68
1951 .11.2 102
9634 100 ,
4
983
2
/
2
/
98',Sale 981
21061 Ala Hide & L let Is g 63-11/19 11.-S
/
2
/
a1917 A-0 1061,109 11/61 Feb '011 .... 1061
:'-Penn Div 1st g 68
75
67
76
75
76
108
Amer Ice Scour deb g 6s 1926 11.0 75
3 1061
210i
/
• .Birm Div 1st consol 68..1917 J -J 108 Sale 108
051/2 100 •
90 Mar'09
99
95
110 Jan'09
Am .:638rits Mfg 1st g68 1915 31-S
110 110
• Cah C 51 Co lst gu g 63.1922 J •D 105
2
/
2
/
2
/
1101 101 1041 1101
103 Nov'Oe
1944 A-0 11014 Sale 110
Am Tobacco 40-yr g 6s
De Bar(Ma Leo gu g 98.1910 F.A 100
79
79 1112 74
2
/
79 Sale 781
2
/ 951
4s.
2
/ 1. 95
951
2
/
1951 F-A
961
96
Valron Coal & Colst g 53.1949 NI-3 94
8
Thread let col tr 4s-1919 3-1
91 Mart),‘ .•.• 90 91
2
/ Feb917 ••-• ......
4
Aid
931
911
87
1953 J 4'
Victor Fuel lot s 15s
gDue Aug o Due 004 p Dae ..%ov Duevuu 3094,4011 9a/ti
i *No Dr100 Friday: latest but aatlasked. *Due Jan 0Dee Fob oDae Aar dDa5 43.pr /611ue
!New York Bond Record-conciuded-Page 4
APE. 10 1000.1
N. Y.STOCK EXCH A NGE
WEEK ENinNo APRIL 4
z
14.2
Price
Thursday
April8
Week's
.Range or
Last Sale
Range
Since
Januaro I
HON Ds
N. Y. STOCK EXCHANGE
WEEK ENDING Amur. 9
l.
44:
Prace
Thursday
Aprif 8
931
Week's
Range
-it,
Range or a
. since
Last Sale :C 4 January
Penn Co-(continteea)
Iligh No Low Big
Ilia
Asa bow
southern Pao Co-(Continued)
Itid
48,4 Law
Jilan No toi• Big&
• Brie & Pats gu g 3.2a B 1940 J J
02 Apr'07
dlorgan's La e9, T 1st 73-1918 A
923
4
1.221 Aug'08
.
Series C
4
1940 J.J
983 Apr'04
9'23
4
let gold Os
116 Nov'06
J-J 115
Gr 11,6 1 ex 1st g-u g 44011141 J.J 1071
1064 Dec'06
No of Cal guar g 5s
/
4
192 A-0
93
8
9
112 Feb407
Pitts Ft W & 1st 7s 1912 -J
1273$ Oct'02
Ore & Cal 1st guar g 5s 1927
103Mari ,
104 104
6Jan'09
2d7s
1091
160;14
1912 J -J
1;3 So P of Ar gu 1st g 68. .91909 J-J 100 104 104 Feb'09
100
.00 1001
/
4
J-.1
3d 7s
107 Oct'08
h1912 A-0
lat guar g Os
101 Jan '011
J--1 101 14
.01141011
/
4
110 Feb'011
Pitts Y& Ash 1st con 56.1927 Ni•N 113
no 110 to Pao of Cal-G8 & F. .1 12 A.0 10314106¼ 1041 J'ne'08
c 11119
.
l'CC&St 144'14123A-1940 A-0 1091
10171 Dec'06
/
4
/
4
1st gold (is
1912 A-0
1
4
114/Dec'04
109 DIsell:1
Series B guar
109
1942 A-0
1014 109
181 con guar g 58
193231-N 113
17
110 Dlay'07
Series C guar
1121.I'ne'05
/
4
1942 M-N 108%
S Pac ofDT Alex 1st g tis 1911 .3 -J
104 Apr'03
....
Series D 4s guar
102 Feb'014
1945 1\1•14 100%
/
4102
1001
So Pan Coast 1st gu 48 g 1937
84
J
95 Feb'011
95
Series IC 31 guar g
94
/
4
19414 F-A
95
94
Tex&NOSabDivlst g6e 1912 M-S
1436¼ 1071 Feb'07
/
4
61017
Series F 4s guar
1115$ J-0 1013
Con gold 5s
971
/
4
1943 J -J
981 Apr'08
/
4
1161 Nov'08
/
4
,C St L & P 1st con g 58 11132 A-0 1161
/
4
o Pao 1114 1st ref 4s
941sale 943
/
1955 J-J
4
3
4
93
S.j 143 .1111
4
;
1
Pensacola & AU See L & Nash
Southern-lst con g 5a
1994 J -J 11214 Sale .12
1127 St, 106 113
.
Peo & East See C
.
& St L
Registered
1994 J-J 110
114 Novqk
......
pep
1234Jan'00
/
1
1921 Q.F 109
Un 1st g 6s
Develop & gen 4s SerA.11454 A-0 787 Sale 73 4
......
19 6
4
3
79 Y.;;; 76
793
6
100% Dec'05
2ti gold 4 128
51921 M-N
Mob & Ohio coil tr g 48 1936 31-S
......
88
881
89
/
4
6$ 851 83 4
/ .
4
109 Apr'02
Pere Marq-eh& W
fai 1921 J -D 103
Mom Div 1st g
1996 J -J 107
107 Nov'08
Flint & P M g 6s... .....1920 A-0 113% 115 1137
4 1137
6 4 112', ID.
St Louis div let g 4a
893 90
1951
4
89%
893
4
874 91
/
1
4
/
4
1st consol gold 58
1931) !.1-1 107 109.- 1091 Feb'09
Ala Con It 1st g Os
1043 1091
/
4
4
/
4
1918 J-J 1081
108 Sep'06
Pt Huron Div lst g 58 11431, A-0 107
106 Nov418
Atl & Danv 1st g 48
......
1946 J -J
91 Deti'ut
SagTus& H 1st fzu g 43 1931 14'•A
2d 4s
1948 J -J
92 J'ne'Oe
851 86
/
4
Phil B & W Sce Penn RR
ALI & liad 1st g guar 46 19414 A•0 81
Phila ifa Reading cons 78.1911 3.1) 105
1151 Alar406
/
4
Col & Greenv let Os
1916 3-3 109
111 Feb'07
931 Mar'09
Philippine By 1st 30-yr sf 46'37 J -J
/
4
93
F. T Va & Oft Div g 56 1930 J -J 110
/
4
931 90
1013 Mara
4
t014 4 1094
Pitts Cm & St L bee Penn Co
Con 1st gold 58
/
4
1956 M-N 1131
113 Mar'Or
1.12 1131
/
4
Pitts Cleve & Tol Ste 11& 0
I:: Ten reor lien g Os
/
4
1936 NI-S 11461 10? 103 Fob"-:
105 105
Pitts Ft W & Ch Set Penn Co
Ga Midland 1st 3s
65
1946 A.0
633
4
64
661
/
4
Pitt.6 McKees & Y SeeN Y Con
Ga Pao Ity 1st g Os
1922 J -J 11542
1.51 Feb'09
/
4
114% 116
114 Oct 'Ot;.
Pitts SR & L E 1st g 5s 1940 A-0 1163
6
6
Knox & Ohio 1st g 6s 11425 J• J 1153
118 Dec'ut
1st consol gold Os
937 . '97.
4.1'1y
1943 J .3 115
lieu& Mr prior lien g 5s 1945 J-J 105
1153 Apr'llt.
6
Pitts & West See B &0
Mortgage gold 4a
82 Nov'06
1945 J.J
'leading Co gen g 48
1997 J-3 100 Sale 99; 100
82 993 100%
Rich & Dan con g 6s. 1915 .3 -J 110
110
110
4
Ii 1081 110
/
4
AN Registered
1997 ,j
95 Aug'08
98
Deb Os stamped
92 J'ne'06
1927 A-0 102
......
96% U71 97
Jersey Cent coil g
a?
/
4
1951 A J
1 .9614 98,
75 oct '03
2 Rich & Meek 1st g 4s 1948 31-N
7
......
Rensselaer & bar See D& H
4s..
So Car & Ga 1st g 58
103 Feb'01
,
19114 6
.011
41.1c 103
/
4103
Rich & Dan See South Ity
Virginia Mid ser Os. 1910 NI-8 11./61
/
4
112 vet '01
Rich & Meek See Southern
Series D 4-5s
1081 Dec'tit
/
4
1921 M-S 106
Rio Or West See Den & Rio Or
Series B 5s
113 Dec'th
2
1926 191.S 1071
Hoch & Pitts See B R& P
General 5e
1081 Mann
/
4
1936 M-N 109
.07 10812
Rome Wat& Og See N Y Cent
Guar stamped
/
4
1091 _Itar'01
1936 M-N IOU
1071 1091
/
4
/
4
Rutland See N Y Cent
W 0& W lat cy gu 45-1924 F-A
861
/
4
NOL6Jan
Querns & 11 See Pere Marq
West N 0 1st cong 65 1914 J • J 1071
/
4
108 Dec'1
1/4
95 Sale 943
6.7t Jo & Or 181 1st g 46 1947 -J
4
8 & N Ala See L &
95
95
2 92
St L & Cairo See Mob & Ohio"
Stok Falls & Nor lst g 63.1939 24
11? Ply'Ot,
St L & Irou Mount See MP
"er A 01St List g 41 19a1) A-0 1081 109 109 Diar'ur
/
4
8
/
4
109 109
t
St L K C& N See Wabash
1st con gold 5s....1894-1944 F-A 116
110 FeD'Or
116 116
St L DI Br See '1' RR A of St L
Gen refund a I g es
96
1953 J -J
9'1
971 97
/
4
1 Ut3
973
4
ilt Louis & 5 F-long 68.1931 J -J 124 120 123% 1233
St L M Bge Ter gu g 514 1930 A-0 1101
4
12214124¼
4
Dec'00
111
General gold 58
1931 .14 110 1103 11014 1101 4 1101
Tex & N 0 See So Pao Co
/
4
4
/
4111
Gen 15-20 yr 3s tr rec _192: 61-11 69 Sale ,89
89
12 881 89% Tex& Pao let gold Os
/
4
2000 J-D
117 118 Diar'Or .". 117 1181
/
4
941
/
4
St L & S It lilt cons g 4s. '96 J • J
96 Mar'01
26 gold Inc Os
65
80
961
91
/
4
g2000 Mat
70 Mar'40 .... 68
76
Southw Div 1st g 58
100
101 Feb'09 .
La Div B 18t g 56
101 101
P431 J • J 103 105 105 Jan '09 .... 105 105
Refunding g 48
11151 j.j 87 Salo 831
W Min W& N W 1st gu 5s'JO F- A 100 105 1061 Ney'04
/
4
87 1:8 847 89
4
/
4
5-year gold notes 41
/
4-1140t J •D
'i'ol&OOlstgOs
1
4
98 Nov'06
ill
111
J -J 111 /
..11 11'21
/
4
8tL NI& So East gu 4 1-1g1001) J .1)
Western Div 1st g 5s. 1:5 A-0 112
1001
.
L
1113
9 15
con g 68 1int
K Ft 5 &
1193
6
General gold 56
119 Feb'09
105 106 106
105
116%1201
'935 J
/
4
105 105
xortS&1 Bs ref g 46 1936 A-0 841 Sale 841
Kan &
8414 17 82% 86
1st gu g 45
/
4
4
941
/ 941
4
/
4
19140 A-0
92% 05
K Ca; M It& B lawn 5s.1929
100
20
r01 P 33 W 1st gold 4s
92
lit Dlar0,
1917 J -J
•
861 94
/
4
Oz'rk& Oh C 1st gu5.4g.11413 A-0 961 98
1)0
911 90
/
4
/
4
1473 1473 Tot St1,64 W pr lien g3.2.3 11425 .J
s
6
973$ Apr'01)
•
.•
90
913
4
81 Louis So See Illinois Cent
50-year gold 4s
/ 85:
4
1950 A-0 85 Sale 851
831 881
/
4
/
4
$t L S W 1st g 45 bti ctf6.1.1481. id.14
91%
94
941 04
/
4
10 9212 941 Ton Ham & Bull1st g 48.51940 J
94
/
4
913
91%
4
1 511
26 g 45 Inc bond otfs...p1981. 3.J
lister & Del 1st con g Oa 1928 J-1)
62 Feb'01)
82
108 -6 Mar'tn
79
• 1061
/
4108 4
,
Consol gold -Is
1.) 1st refund g 4s
193:: 3•D 783 Sale '181
4
4
783 58 78
4
81 .Nov't)
1952 A-0 85
,
Gray's PtTer 1st gu g5a 1947 J -D 102/
6
Un Pac Rit & 1 gr g 4a
6Aprql.
101 1
1,
1
4
1947 J -J 1027 Sale 1037 103
(10 102
104
St Paul & Dui See Nor Pacific
101% it:2 102 Apr'01'
Registered
.1-J
LOON 103
St Paul M & Mau 2d Os 11101.4 A-0 1917
1041 Sale .24
lat & ref 4s
/
4
6
102 Mar'09
g2948 M-S
10 7
.9% 19. 96% 99%
102 104
0
1st consol gold 66
20-yr cony 40
193$ .1 • J 1321
/
4
1927 J.J 106% Salt 10u14 1061 1804 :02 1081
131 132%
/
4133 13214 Apr'09
/
4
Registered
Ore By & Nay con g 48 1946 J -D
1933 J -J 131
134 Dec'uo
961
9.4
/
4
14814
98% 99/
1
4
Reduced to gold 41 1933 J • J
Ore short Line 1st gills-1946 F-A 119 119k, 1;9
/
4
8
119
/
4
1091 Mar'ub
1922
109 111
4 1181
/
41201
/
4
Registered
n
1st coeol g
4
1143:; J • J 1081
6
/
4
1161 Apr'01
/
4
J • J 11(1141103 110.2 1101
la 118
Dakota ext gold as
943 95
rotund 4s
Guar
4
14•17
145
1911. m•ri 102%
6
/
4
1031Diar'n
19111 J-D
1031 1034,
/
4
4. 94. 953
4
Mont eat 1st gold 4s
Registered
1937
94 Jan'09
101 Mat'ul.
991 101
19241 J -0
4
94
94
Registered
Utah 84 Nor gold 5s 1112e J -J 106%
1931 J .14
4Uct'00
1001
10716uP
/
4
•
E Minn Nor Div 1st g 481.144t A-0 98
Uni N J llit&COoSeepaItIl
MUni Union lat g
Utah Central See Rio Or Wes
124 May'05
J •J
1937 J.J 1311
Utah & North See Un Pacific
Mout C lstgug6s
/
41331 130 A9r'06
/
4
Registered
1937 J -J
Utica & Black It See N Y Cent
4 ay'00
13(11
1937 J -J 1151
andalla consol g 4s. .1955 F -A
lat guar gold 56
/
4116/ 1161 Mar'09
115%117
/
4
1
4
98 Nov'08
V era Cruz.21'Istgu4 12811434 J-.1
Will & 5 It 1st gold 5s 193:. J -14 116
116 4 Feb'lli)
4
110% 1103
98 Sep'09
St P & Nor Pao see Nor Pao
Von Val Ind & W See Mo
StP .14.16's City SeeU St I'J1 Jet,
Virginia Mid See South lty
dIAJo A Passlatgu g4s 1943 3-3
901 891
/ 901 10 U
4
/
4
Southw't 1st gu 56.2003 J -J 108 115 117 14 Jan '21. .... 1171
/
4
923 Va
4
/
41171
/
4
1st g
.ti-b 1111 112¼ 112 Feb'01.
/
4
81.Pros &
131)
1st cons 50-year Os
1411
99% I- 981 99%
112 113
1958
/
4
SF& N P 1st sink I g 58.1911 J J
110 Oct '145
abash 1st gold as
113
1939 ta-N 113 Sale 112
2. 112 1141
/
4
Say F& West See Atl Coast 1.
V
20 gold 5s
4 103
, 4
F-A 14 43 103 .043
I .021
/
4105
Scioto Val & N IL See Nor &
Debenture series A
100.6Jan '01.
139 2-3
19 9
93
1001
/
41001
/
4
/
4
Seaboard Air Line g 48
1901; A•0 721 Sale 69
721 (h• 631 7214
/
4
Series B
86 Marqh., .... 66
utp,
2
J •J
90
971
/
4
951 Mar'09
/
4
Coll tr refund g Os
1911 41.141
1st lien equip a
WO Dec'06
3
5s 19) S
1)514 951
921
/
4
814
Athihrin 30-yrlat g 4e e1933 31.8
88 Jan'07
lot hen 60 yr e term 48.11454 J -J
113 Mai'0.
......
90
85 J'ly'09
Car Cent 1st con g 4s 1941 -2
1st ref and eXt g 46
731 Sale 72%
J.J
/
4
7$7 149 71.4 7834
6
Fla Cell 39 Pen 1st g 5s.1111t 2 • J 100
1071 Aug'04;
/
4
1091 1104 1100 Mar or ... 108 111,
/
4
4
Det & Cal Ext 1st g 03 1:441 J
4
let laud gr eat g 5s 193t 3-2
Dee Moin Div 1st g 46 1939 4-2
97 Nov'u.
Consul gold 5s
10141 Diar'06
/
4
1943 3.3
80
Om Div 181 g 3¼a
80 Dlar't0. .... 80
11441 A-0 71
811
10214 Feb'09
103
Ga db Ala Ity let con Os o1945 J -J
Tol & Oh Div 1st g 48. 1941 tvl.
1021 102%
/
4
141¼ 91 Dee'oc
85
Ga Cat 39 No 1st gu g Os 1925 J -J 1043 103 1951 DIar'09
/
4
4
Wab Pitts Term 1st g 46 1954 J -1)
105 100
50', 491 Apr'09 .▪... 48
/
4
55,
4
Sean & Roa 1st 5s
Trust Co certfs
4
192t. J -J 1073
10614 Feb'09
106% 1063
91114
49'
Sale
4
2. 453 633
4
4
Sher Shr do So See
20 gold 48
K&
5 26iiie
,
81
81
/
4
/
4
1934 .1.1)
8
141
/
4
all Sp Ocit & U bee Atl Coast L
Warren see Del Lac & West
So Car & Us See Southern
Wash Cent See Nor Pao
Southern Pacific Co
Wash 0& W See southern
Gold 48(Cent Vac coll).ic.1941 J -13 911 Sale 913$
92
Wash Terml 1st gu 31 1945 F.A
/
4
6t 90
/
4
8
92
921 933 Feb'09.
4
/
4
931 9334
4
Registered
West Maryland 1st g 4s 1952 A-0 84 Sans 83%
/
4
/91941 J -14 86
911 85 Feb'09
85
85
84 12. 82
/ WI
1
4
Cent Pac 1st ref gu g 4s1941'F-A
, Gen & conv g 4s
6
11152 t-0
4
973 148 973 987
973 Sale 973$
4
ed
68
61
721
/
4
Registered
4
1178 Mann)
W Va Cent & P 1st g 6.4 1911 2-,i 1021
F.A
1945
/
4
105 Dec -05
973 973
4
4
Mort guar gold 3428...k1021. 3-1)
901 9034
/
4
903$ 10 8914 1)31 West N Y& Pa let g 53 1:437 J .J
/
4
/
4
1104 1101 Mar'014
116 117
Through St L 1st gu 48'54 A•0
114 Mar'ul4
Gen gold 3-4a
144
031 1(4
194$ A-0
/
4
93 Apr 01
93
95%
Gal liar & S A 1st g 00-11)10 F -A
1011 Feb'09
/
4
Income Os
1008101th
d1:443 Nov
34 ko011'i
Mex & Pac 1st g
111
6.1-3 111 Sale 111
\Vest No Car See South By
110 111
Gila V Cid. N latgii g 58.1924 M-N 10412
104 Mar'011
WheePg & L E 1st g 5s. 1926 A-0
104 104
105 Feb'09
107 109
Roush:& W T 1st g 58.1938 61-N 10234
101 J an'08
Wheel Div 1st gold 5s1928 2-4
115 J 'iy
1st guar 58 red
11133 M-N 1031
104 Aug'00
Exten & Imp gold . 1930 F -A
1031 Dec'ln•
4
/
4
& TO lat g 5s int gu-1937 J -J 110
110
110
1 10344 111)
/ 4 633 60
4
RR 1st consul 4s---------249.
574;
6";1
34-b
6714 87%
4
Consol g 08 int guar 1911. A-0
20-year equip s f 5s .1922 .3-2
119 Dec'lle
1073$ Nov'07
Gen gold 4s iut guar 1921 A-0
1441414e0'08
115
Wilkes & East See Erie
Waco& N W ttiv 1st g Os'3t. NI-N 116 118 116 Dee'06
Wil & Sioux F See St1 M .314
1
1941 J • J 1081
& & N W 1st eu 5s
1071 Jan'09
1071
/
4
/
4107/ Wis Cent 50-yr 1st van 414 1949 J-J1 95 Sale 94; 951 69 891 9514
/
4
1
4
/
4
/
4
/
1
2
/ 99
1
4
801
/
4
.19134UL1.1 AN EO US RON
RanulacturIng .l..: Industrial
Beth Steel let ezt sf 58..1926
Dent Leather 20-year g 68.11125 A-0
nsol Tobacco 50-yr g 48.1951 F-A
pistil See Con cony 1st g 58.'27 A-0
t Paper Co 1st eon g 68 11416 F-A
Consol cony a 1 g 58
11135 J •J
nt St Pump 10-yr cony. Os'1$ J • J
ackaw Steel 1st g .
1923 A-0
/
1
4
Y Air Brake 1st cony Os'28 61.N
11epub 1335 1st 33 coltr 541.1934 A-0
U 1:1 Leath Co s t den gds 191:3 1-3
U 5 Realty & 1 cony deb g 544'24 J-J
47 5 Rubber 10-yr coil In Os.'It J -D
U 6 Steel Corp-j coup 41903 M-N
8110-01) yr Os.1 reg ..a1993 31 N
-Car Chem col tr 66 g 11.12 A-0
Vs
let 15.year Os
11423 J •0
Westin:.house E &Mat 5s '31 J.J
Miscellaneous
83
83% 83
4
833 35 77
1948
S
8512 Adams Ex col in g 4s
987 Sale 0814
4
987 65 961 99
6
/
4
IVIrrn FerryCo 1stcons g 58'48 F-A
7812 Sale 7814
1 75
7314
781 Chic Jo & t Yard col g 56.1916 3.3
/
4
74 Sale 74
/
4
751 103 731 78; Dot 51 33 It hi gr incomes 11111 A-0
/
4
1041 sale 10412 1041 7 101 1061 Institution for Irrig Wks
2
/
4
/
4
871 8714
,
8714
1 85
8842
& Devel of Agricul a 1
1031 Sale 1021 1021 26 100 1021
/
4
/
4
/
4
1943 31-N
4145 (ctfs)
/
4
94.6 Sale 94
941 14 94
/
4
98
/
4
Int Mercian Marine 41 1922 A-0
8
110
4 108 1131 hit Navigation 1st s f 5.4 1921. F-A
110
/
4
1 98 1007 Man Bch li & L gen g 4s 1940 M-N
98
98
6
103 1033 1051 1053$ 15 1(341410614 Newp Ne Ship & D D5e din() J-J
4
/
4
89% Sale 89
89 3 lt 844 891 N Y Dock 00-yr 1st g
4
/
4
.1951 11%.11
103 64410 102; 103
8t 1021 1033 Providence Sec deb 4s--- --257 as-s
/
4
4
103% Sale 1031 104 673 1021 1041 Provident Loan Soc 4128.1921 M-S
/
4
6
6
1023
4
)
103 Apr'01 .... 102 10414 St Joseph Stk Yds1st41
.6.1930 .3-2
/
4
/
4
1051 Nov'08
S Yuba Wat Co con g (is 11 28 3.4
,
1403 Kale
4
, 14?
64 93% 974 Sp Val Wat Works let 68.100t
1163
4
931 Sale 931
/
4
6
933 194 901 95
4
/
4
(IS Red & Ref 1st erg 68.1931
'No price Erlday; latest ale Ann asked tins week. a Due Jan
a 1)tte 100 8r. Dues Apr eDue allay g Due J 110
931
/
4
934 03% 9314
/
1
41 Oct'06
100 Jan'08
47 Apr'148
35
4
933
92
......
......
923
92% 44 92
4
931
,
/
4
721
731 247 71
/
4
77
863 Apr'09
4
863 88%
4
50 Feli'431
90 Aug'08
......
95
95
931 Apr'09
/
4
93
931a
91.
88
90
90 Jan'09
90
92 100
951 Dec'08
/
4
100 10032Sep '05
112 J'ly'04
11312.1'1y'00
90
93
90
93
11189
A Due J'ly p11.10 Nov aUntion Sala
921 03
/
4
72.6 /Sale
86
CHICAGO STOOK EXCHANGE-Stock Record-Daily. Weekly and Yearly
YtoOKS-HIGHEST AND LOWEST SALE PRICES
Saturday
April 3
Monday
April 5
Tuesday
April 6
Wednesday
April 7
77rursday
April 8
Friday
April 9
Sales
ol the
Week
Shares
STOC KS
CHICAGO STOCK
EXCHANGE
11a7V7r rinee
Jan. 1 1909
Lowest
Earl: for PYCIA011:
(i'JUS)
!Bolles,
-
eta
Lowet:
Ktgliese
160 Jan
1 ;; Feb
,
II, Dec
84;34 .3'1 fe
38 Oct
20 Nov
934 Sep
15 Feb
30 Oct
68 Sep
1214 Nov
42 Jan
1334 Aug
46 Aug
42 Aug
2612 Apr
85 Apr
185 Dec,
318 Aug
10 Augi
119 Nov
47 .1'net
28 Deo
1312 Dec
3012 Dec
4734 Nov
8612 Nov
19 Jan
54 May
22 Dee
6212 Dec
71 Jan
34 Nov
103 J'ne
4 Feb
4112 Jan
125 Jan
116 Apr
37 Itch
91 Jan
10 J'iy
7 Dec
s
:3 Dec
40 Feb
147 May
3 Oct
2 Nov
20 Dec
105 Jan
4
3 Feb
100 Jan
80 Jan
103 Nov
8
767 Dec
8
200 Dec
12814 Nov
63 Nov
104 Nov
42 Jan
30 Jan
100 May
5714 Dec
147 May
118 Aug
4 Apr
3012 Aug
153 Sep
234 Feb
116 Dec
110 Oct
113 Jan
30 Jan
38 .1'ne
131 Aug
4212 Dec
46 J'iy
19 J'ae
70 Jan
1013 Jan
.i
51 Mell
91 Alch
80 2 Jan
)
20
97
120
87
115
106
•
Railroads
*175
*4
*10
*110
41
*28
*10
2612
*4134
82
*17
50
2213
*68
56
30
*9612
812 812
812 812
7413 7413 7412 7434
*202 210 *202 210
*127 130 *127 130
*55
5512 *55
5512
*104 106 *104 106
___ ____ -___ ____
*14
12
*14
12
114
138
114 13
8
57
57
*5613 58
-- -_ -_- .......
*1
118 *1
118
*3
4
*3
4
23
23
2213 2212
133 13314 4133 13314
*12012 cif- Hi- fif"
11113 112 *11112 112
1014 1934 2018 20 4
3
*7711 7734 *7813 78
12134 122 412113 12214
4118 4138 41
4112
*43
45
*43
45
ELECTION DAY. EXCHANGE CLOSED
*175 185 *175 185
412
*4
412 *4
11
*10
11
*10
*110 112 *110 112
*4014 41
*4014 41
29
*28
29
*28
1112
1112 *10
*10
4
263 263
4
28
*27
*4112 4212
42
42
82
*8112 82
8212
18
*17
18
*17
*5012 52
*5013 52
2212 2212
*2213 23
70
*68
70
*68
*57
00
*57
60
3038
8 30
3018 303
*9612 98
*9612 98
44.01i2 10S1- iiii" fdi"
-- 2
12278 13212 12313 124
85
85
84
81
*119 120 *119 120
1133 11358 11312 11434
8
-7 4 - - -7714 ---1:1
0
4
763
77
10912 10012
*109 110
103 103
103 1033
8
Hi' 1321 *131) fii"
1
1001. 10012 10014 100 2
.-- ---- -- ---WA- 14 - Ta- -21-
180
412
11
112
41
29
1112
2612
43
8212
18
50
2213
59
56
3038
98
180 180
Last Sale 1
Mch'09
Last Sale 1012 Apr'09
11012 11012
40
40
Last Sale 27
Meh'09
Last Sale 103 Meh'09
4
*26
27
42
42
8238 823
3
Last Sale 19
Meh'09
*50
52
1
1
*22
23
Last Sale 69
Mch'09'
55
57
30
3014
Last Sale 97
Apr'09
GOOD
FRIDAY
EXCHANGE
8
12 812
8 8 812 CLOSED 1
3
7414 7434 7413 7412
*202 210
Last Sale 202 Alch'09
*127 130
Last Sale 128 Mch'091
*55
5513 5412 5412
Last Sale 100 Meh'09
*104 106
Last Sale 10
July'08!
*14
12
Last Sale 34
Mch'09'
138 138
114
114
57
57
*5613 58
____ ____
Last Sale 147 May'08
118
Last Sale 1
*1
Dee'OS
Last Sale 2
*3
4
Dee'08
*22
24
23
23
13278 133 *13212 133
Last Sale 214
Mch'08
122 122
122 122
112 112
11112 112
2234 2234 :2314 2314
---7014 Meh'09
*79
80
12212 12212 122 11212
4118 4118
*41
42
*43
45
Last Sale 4314 Mch'09
Last Sale 213 June'07
_--- _-____ ___
Last Sale 20
July'08
103 10414
12
*104 105
122 12213
*123 125
85
85
*84
85
120 120
*119 120
4
11512 1153 117 118
Last Sale 11-16 Meh'09
-771r2 7712 7714 773
4
10058 1095 10918 10918
8
10334 1043 10414 10413
8
Last Sa,k 7
Feb*09
130 130
*130 132
10014 100 4 1003 1003
3
4
4
153 158
Last Sale 778
Mch'09
;22- 24
Last Sale 24
Meh'09'
100 180 Mch 8 190 Feb 3
50 Chicaga City By
3 Jan 15
Chicago & Oak Park_100
4 Jan 22
100
9 Jan 21 15 Jan 22
Do pref
--al Chic Rys part ett -1"__ 110 Mch 19 111134 Jan 6
"2"___ 40 Alehl7 4534 Jan 2
121 Chic Rys part el
277g Jan 12 :30 Jan 29
Chic Rys part ctf "3".._
10 Mch17 1312 Jan 2
Chic Rys part ctf "4"___
100 25 Feb 26 2914 Jan 2
68
- Chicago Subway
215 Kans City By & Lt 100 35 Feb 29 4212 Meh 19
100 79 Jan 8 8212 Apr 5
Do pref
112
.."„io Metropol W S Elev 100 17 Jan 4 19 Alch 8
8
100 47 Jan 14 537 Mch 10
Do pre
100 21 Jan 6 23 Jan 21
69 Northwestern Elev
100 63 Jan 6 6912 Mch 18
Do pref
-14; South Side Elevated_ _100 50 Jan 25 60 Mehl()
8
1170 Streets W Stable C L_100 297 Jan 20 3078 Feb 18
100 97 Feb 15 9812Jan 5
Do pref
-__ _
Miscellaneous
100
525 American Can
100
Do pref
910
__._ American Radiator,. 100
100
Do pref
-ido Amer Shipbuilding__ _100
100
Do pref
Amer Straw Board
100
Booth (A) & Co
Do pref
100
1:051
20 Cal & Chic Canal & D_100
Central Trust Bank.. l00
Chic Brew'g & Mait'g
Ch o
leo
Pneumatic Tool_100
Prer
214 Chicago Telephone__ _100
Do rights
--24 Chic Title Fe Trust__ _100
-th-Edison..100
297 Commonw'
oo pref_
010 Corn Prod Ref C Corn -_-_
Do
100
"Ho Diamond Match
100
235 Illinois Brick
Masonic Temple
Milw & Chic Brewing
Do pref
100
-5a1) National Biscuit
100
Do pref
293
100
37 National Carbon
100
Do pref
19
3,182 People'sGasL&Coke_100
rights
Do
-11 5 Sears-Roebuck com__100
.
100
Do pref
80
100
4,530 Swift & Co
Do rights
'
,
1'2'6 The Quake Oats Co ,,100
100
Do pref
500
_29
.Unit Box Bd & P Co_100
100
Do pref
100
---_ Western Stone
Chicago Bond Record
BONDS
CHICAGO STOCK
EXCHANGE
Week cndinri Apra 9.
Internil
Period
Price
Thursday
April 8
eek's
Range or
Last Sale
77s Jan 30
914Jan 2
7134 Jan 6 77 Feb 2
200 Jan 11 202 Feb 4
128 Jan 20 12814 lich30
5412 Apr 1 59 Jan 6
101 Feb 24 106 Mch 1
38 Men 12
3 Feb 9
4
5114 Jan 8
1 Jan 2
5 Jan 5
57 Mch31
4
.20 Mch 24 2738Jan 127 Jan 4 134 Mch24
117 Jan 18 122 Mehl8
107 Jan 21 112 Apr 3
1718 Feb 25 2314 Apr 8
7014 Mch25 7738 Mch 19
117 Jan 9 12414 Feb 10
38 Jan '26 42 Mcli 2
43 Jan 5 45 Feb 8
9778 Jan - 2
11814 Feb 15
82 Jan 14
110 Jan 15
102 Jan 5
12 Feb 25
55 Jan 5
101 Jan 5
10013 Jr.
9
6 Feb 5
119 Jan 5
9813 Jan '2
53 Feb 19
334 Nich10
15 Feb 16
IOU Jan 16
124 Apr 5
87 Feb 27
120 Apr 1
118 Apr 8
1 Itch 20
80 Mch 11
112 Feb D
10412 Apr 8
20 Jail 18
13212 Apr -3
10134 Feb 10
158 Mch26
912 Jan 4
25 NIc1115
Dec
Aug
Dec
Nov
Dec
24 Jan
72 Jan
881^ Jan
56 Dec
102 Dec
105 4 Sep
3
11434 Jan
87 Jan
14 J'iy
112 J'iy
1134 Oct
134 Jan
110 J'iy
13 Jan
4
12 Jan
17 Apr
Chicago Banks and Trust Comnanies
B'ds
Sold
Range
for
Year lgoo
Bid
Ask Low
Filch No, Low
High
100 Mch'07
Amer Strawb'd 1st 5s..1911 J - 1
-Aurora Elgin & Chic 55 1941 A Cal Fe So Chlo By Co
1927 F - A 110112 102
1st II 5s
15114 Fe1V 51.1
:
Cass Av & F G (St Li 5812 J - J
ia 10114
100 MarO7
Chic Board of Trade 4s1927 J -D
,
4
1027 1 -A idif idii 10414 1043
8 28 10414 1011
Chicago Otty Fly 5s
- J
103 Apr'04
Br&Mit 6s___
Chic Consol
- I)
55 Aug'07
Chic Consol Trac 4)4s-1939
9634 Jan'06
:,1•11c Audlioriumlst 5s1929 F A
Chic Dock Co 1st 49_1920 A Ohio Juno RR 1st M
1945 hf s
g 5s
-.87 Feb76Zi
Chic Nu Shore Eiec 68-1912 A 7213 74 7334 74
Chic Pne Tool 1st 5s.a1921 J - J
J -W 7;
.
- A 10214 10238 10238 1023
1027
8
Chic Fly 55
3 10112 1023
4
95
95
1
Chic Rys 4-5s series "A' A -0 9478 95
9312 9538
8812 88
8838 15
Chic flys 4-5s series ''B' J -D 88
8434 8613
91
9012 9012
89
91
Chic Rys 4-55 series "C' F - A 90
7
102
5 10118 10238
Chic Rys coil (38..,.. 1913 F - A 102 10214 102
1021811O1V09
10218
Chic Hy; Fund 6s___1913 F - A
:la; gtic: 102% 10218 --- 10134 10238
53.
10213
Chic Rys Tern Ctts 1st
1
6612Aug'08
Chic It I & P RR 49_2002
6612.11y'OS
- S
10534
Collat Trust g 5s---1013
J - D :15518 11:33s 10335Apr'09
Chic Telephone 5s__1923
Gommonw-Edison 5s_1043 M - S 10318 Sale 10318 10318 10 i'di" fedi,
1005
8
100 Jta**03
_
Chic Edison deb 6s191.,
. -2
2 101 10134
1st g 5s __ _July 1925 A • 0 10113 1611- 10118 10118
10153Meh'09 --- 101 10218
1926 Si - S 10158 102
Debenture
103 Meh'09 --_ 1023 10358
5sb10.13 If - S 103
4
Commonw Elect83 Dee'08
Illinois Tunnel 5s____1928 J -D
Kan City By & Light
96 Oet'OR
• N
Co 5s
1913
9514
96 Meh'Og
as
Ilia(ck'b'ker ice 1st 53_1928 A 90 Meh'00
83
73
1.10
Lake St 51-13t 53__,,1928 J - J
16 May'03
income 55
1923 Feb
Meta* W Side El-.
14 8512
9
E3
8612
151 4s
1938 F - A 8512 Sale 85
84
84
84
J
19
1938 J
8212 8414
Extension g 4s
9214 9612
North West El 1st 4s 1911 91- S -9612 Sale 9614 9612 90
97
97
3
93
Ogden Gas 5s
97
1945 M - N /97 Sale
100 8Meh'09 ---- 10014 10013
3
12
Pearsons-Taft 5s
1916 J -D 99
07 Mela'09 ---td S 9t312 98
4.403
9 4 98
113
8912Meir09
hi - N
99
9912 9978
4.603 Series E
9013
100 Melf09 --_ 100 10018
Si - N
4.803 Series F
120 Jan '09
--12014 122
120 120
Peo Gas L&C 1st 63.._1943 A 4 13 103 104
10314 10334 10312 1033
_1947 hf Refunding g
104
104 Sale 104
2 104 10438
Chic Gas L&C 1st 5s 1937
53_102 1021.
Consum Gas 1st 53_1936 J -D 102 10212 102 Meh'09
10112Meh'09
10112 10112
Mut'l Fuel Gas 1st531947 M - N
- 9(112 5614 9614
10
South Side Eiev 4343_1924 J - J 76
g412 9014
10134Meh'09
Swift & Co 1st g 5s___1914 J -J
1001. 102
4 32
9458 943
&;.1.e
Union El (Loop) 5s.....1945 A 92" 95 4
3
114 Nov'04
Union Pacific cony 4s_1911 M - N
70 Jan'09 --United Box Board col 6s"38
71)
70 -7
0
8512 Jiy'08
Western Stone Co 53-1909 A -
551
4
.01•••••••••
Notit.-Accrued interest must he added to all Chicago bon d prices
NAME.
Otastand
trig
Stock
Jar at
and
Pratte;
$2,000,000 $1,265,235
Bankers National
34,125
100,000
Calumet National
177,183
500,000
Chicago City
Commercial National.._ 3,000,000 4,266,557
4,000,000 3,710,939
Continental National
4,833
50,000
Cook CO State Sayings_
Corn Exchange National 3,000,000 5,008,466
53,703
200,000
zDrexel State
392,913
600,000
Drovers Dep National
31,100
'200,000
Engiewoou State
8,000,000 8,053,837
First National
168,320
150,000
First Nat Englewood
515,761
Foreman Bros B'k'g Co.. 1,000,000
447,712
Fort Dearborn National- 1,000,000
168,216
500,000
Hamilton National
840.639
1,500,000
Hibernian B'k'g Assn..
106,340
200,000
Kaspar State Bank
408,036
Live Stock Exchange Nat 1,250,000
61,573
300,000
Monroe National
2,000,000 1,124,106
Nat Bank of Republic
491,825
1,500,000
National City
02,753
250,000
National Produce
65,891
200,000
North Avenue State
10,570
50,000
North Side State Savings
151
100,000
rOakland National
08,859
250,000
Prairie N atlonal
40,752
500,000
Prairie State
7,543
250,000
Railway Exchange
300,000
131,973
Security
78,005
200,000
South Chicago Saeings1,000,000 1,364,095
State Bank of Chicago168,016
250,000
Stock Yards Savings..
41,783
200,000
Union Bank of Chicago_
60,80:3
200,000
Union Stock Yards State
American Trust & Savo- 3,000,000 2,476,463
840,408
zCentral Trust Co of III.. 2,000,000
105,751
n500,000
Chicago Say Bk & Tr
5,000,000 §1,'208,619
Chicago Title &
14,336
60,000
Cltizens Trust ea Savings
485,635
600,000
Colonial Trust & Sayings
9'2,060
200,000
Drovers Trust & Sayings
117,368
1,500,000
Farwell Trust Co
2,000,000 2,330,449
Trust 61 Savings
First
1,092
200,000
Guarantee Trust & Sav_
808,803
Harris Trust & Savings.. 1,250,000
Trust & Savings.. 5,000,000 8,2.53,004
Illinois
44,004
200,000
Kenwood Trust & Savgs
31,610
200,00
Lake View Trust & Savgs
Merchants' Loan & Tr Co 3,000,000 4,807,652
250,615
750,000
Metropolitan Trust & Say
1,500,00 2,015,679
Northern Trust Co
48,036
200,000
North-IVestern Tr & S av
200,000
88,993
People's Trust & Savings
103,0(34
Pullman Trust & Savings k500,000
352,422
500,000
ziloyal Trust Co
21,002
200,000
Stockmen's Trust & Sav1,000,000 1,132 907
Union Trust Co
213,908
Western Trust & Savings 1,000,000
50,872
200,000
West Side Tr & Say Bank
31,978
200,000
Woodlawn Tr&Say Bank
Dinaend R&7orrt
in
1907
in
Per- l.asi Paw
190
, ze/i
lett 09, 2
6
An Dec '(18. 6
.1-.) Dee '08; 5
10
12
Q-.1 Apr '09. 3
(,)-.1 Ape 09, 2
8
-Si Men '09, 112
0
0-1 pr '09,3
12
12
Q-1 Ian '09. 112
fi
o
8
93i (4-.) Jan '09, 2.12
6
6
Q-1 Apr 09. 112
,Nleh 31 '09,4
12
12
10
10 0-31 ch '9, 3
-----21lit
Priv to Da
Ii
8
pr 09,2
.1-.1 is '09, 212
5
5
(..)-.1 Apr '09, 2
8
8
J-.) Jan '09; 5
10
10
1042 Q-I1 .!eh '00, 213
4
4
(4-1' Feu '09, 1
8
8 ,Q-J Apr '09; 2
3
kpr '09, 112
Aega busies
---n
Aug 26 1907
44-.1 Apr '00, 114
6
Q-J Apr '091 112
ii
6
Q-.1 Jan '09; 113
8
IS
10
12
8
8
4
2
Organ -Iced
ti
6
9+1
11
6
7
O
6
6
6
8
8
7
7
IM
136
0
8+
462
6
Organ ized
1110):)) or 7-:
:
. ceC
164
-.
-1 16+4
16
2
2
is
.8
68
8
6
k--6
"
16
2
0
8
0
6
S
8
5
8
Began
6
basins
ti
6
6
N1%31'09.113
Jan 1)8, 2
12 1906
Apr '09, 112
Apr '09.3
Dec '08, 4
Nov '08; 3
pr '09. 112
Mch '09, 2
Apr '09: 134
pr '09, 113
Apr '09, 113
Oct 118, 2
Apr '09, 2
12
Apr '09, 2
13 1907
Mch 31'09, 4
V. 87,0.1138
Apr '09, 212
Apr '09, 4
pr 'V), 134
pr '09, 114
Apr '09, 3
Mali '09; 112
Apr '09: 2
an '0913
an '09; 1
Apr '09; 2
Feb '09. 2
12
Jan 'OW 2
Dec '08, 2
Apr '09; 14
Sept 5 1901
Apr '09. 114
• Bid and asked prices; no sates were Made on tills day. 1 Feb. o (close
uusiness) for national bar .cs and Fel). 0 (opening of business) for State institutions, I No Price Friday: latest price this week. a Due Dec. 31. b Due June. k Capital increase i from $300,000; a stock dividend of 33 1-3% bei
in part payment therefor, n Capital and surplus to be increased. q Dividends are paid Q-J, with extra payments Q-F. r As of date Dec. 31
(declared
1908. z Drexel State and Oakland National banks consolidated in February 1909 under name of Drexel State Bank. Royal Trust Co. purchased by
and merged in the Central Trust Co. V. 88, p. 541.
APR. 10 1909.]
THE CHRONICLE
Volume of Business at Stock Excilane;es
Electric Companies
Bid
ChIcazo Edison Co Ste Ch leag
e iiIngs Co El LdeliCo 10e 120
Narraean(Prov) El Co_5() *8414
N Y &() El L &Pow(10_10
50
Preferred
100 10
United Elec of N
50
1st l• 4s 1949
J-D 71
Ferry Companies
B & N Y 1st Gs 1911_14
DO
N Y & E It Ferry stk_100 30
1st 58 1922
/ (50
N Y & Hob Os %lay 46 J-D 94
liob Fy 1st 5s 1946,11-N 106
NY &NJ 5s 1946____J-.J
93
10th de 23d Sts Ferry_100 30
1st mtee 5s 1919__J-D 65
eUnion Ferry- stock_ 100 22
elst 5s 1920
933
Industris and :Mice:
sus Astq
Consol !lubbe Tie10,
Preferred ........IOU
TRANSACTIONS AT THE NEW YORK STOCK EXCHANGE
Debenture 43 1951A&O
40
DAILY, WEEKLY AND YEARLY.
Cons Steamship Lines 100 --Coll tr 4s 1957 rcts .1 del 1 16
163
4
Corn Prod Ref See Stock Ex.- 1st
Stocks.
Railroad,
eCruci ble Steel
75
71s
100
Vircek, ending
IT, S.
State
ePreferred
100 $812 a914
Aprt/ 9 1009.
:71zares.
Par value.
"Ponds.
Bonds,
Bonds.
Cemberiand Ely Copper.5 *VI
95
eDlamond Match Co_lon 1:2112 1221...
Saturday
444,435 $40,385,100 $2,320,500
$97,000
60
Dominion Copper
10 Ole
Monday
965,648 86,698,800
70,000
4,972,500
70
Douglas Copper
(-11.
,
3
Tuesday
875,618 82,991,800
211,500
5,190,500
95
Econ'y Lt & P (Joliet, 1111
Wednesday
716,945 64,455,500
192,000
5,660,000
10714
1st SI s f gOs 1956-.3-1) i'3: 96,
Thursday
900,276 86,390,100
333,500
7,418,000
97
Electric Boat
25
IOU
Friday
IIOLI DAY
40
Preferred
75
100 t30
65
Electric Vehicle._._ 100
Total
3,911,922 $360,921,300 $25,567,500
$904,000
24
Preferred
2
100
99
Empire Steel
12
100
Sales a/
Week ending April 9.
Preferred
52
Jan. 1 to April 0.
100 49
Short-Term Notes
New York Stoat
eFederal Sugar of N Y Ses Stk
x list
Asn Cie scr A 4s '11 M-S 981s 9858 eGeneral Chemical__ _100
Exchange.
1909.
1903.
1903.
1909.
66
75
Ser B 45 Mch 15 '1211 S 9714 9712
ePreferred
100 15012 102
Stocks
-See Gal Sec
-No,of shares_
Goldfield Consol Mines_16 *8716 S91s
46,181,062 Amer Light & Tr Os
3,911,922
49,234,745
2,391,303
Am Tel & Tel g .58 '10 .1-0 10114 10138 Gold Hill Copper
Par value
$360,921,300 1208,809,100 $4,643,660,
625 $3,949,157,475 Atlan
.1 ,516
Coast L 58 '10_M-S 101 10114 Greene Cananea
Bank shares, par
$10,400
$38,000
se *1014 1012
$1,800
Ches & Ohio 6s Jiel '10J-J 10255 1027, Guggenhem
Bonds.
-_
Chic & Alton Os 191: -J-J 10014 10034 etiackensack Explor'n 10u
Government bonds_
.
$179,000
$277,820
$6,000
%Vater Co
State bonds
Ref g 48 '52 op '12__J-.1
13,424,100
$904,000 $2,995,000
36,801,000 Chic It I & Pac 63 '09A-0
59
91
On Ham &D4 Sis '03 11-S
RR.and misc. bonds
1
E- Hall Signal Co
358,248,500
196,433,100
25,567,500 14,204,000
100
35
C C C & St L 5s, June '11 10114 10112 Havana Tobacco Co 100 30
8
Total bonds
Preferred
5371,851,600
$233.511,920 Erie 68, Apr 3 1911_ A-0
$26,471„500 $17,205,000
100 -- -- 18
03
Interb RI'a Gs 1911 )11-N 10012 fUti34
1st e Os June 1 22_1-i)
5s Mch 1910
10318 10312 Hecker-Jones-Jewell MU
DAILY TRANSACTIONS AT TIIE BOSTON AND PHILADELPHIA
M-S
K C Fly &Lieht Gs '12 M
99Is 9912
1st 6s 1922
Mie-EXCHA-NGES.
Kan C So g 5s Apr '12.J-J 100 10014 lier'g-Hall-Mar, new_1011 101 10S
45
30
Lack Steel Os g 1910_M-s 9(312 07
Hoboken Land & Imp100
New 1-yr 55 Mob 1 '10 99
e5s 1910
9912
Boston.
SI-N 9912
Lake Sh & M So 5s'10 F A 10118 10114 Houston 011
Weet endtng
7
100
9
Lou & Nash g Os '10-M-S 1011p 1013;•
April 9 1909.
Preferred
Bond
Listed
Listed Unlisted
Unlisted
Bond
105 35
45
Hex Cent 5s July 1 191s 10014 10U34 Eludson Realty
sales.
shares,
shares, shares.
shares.
sales.
105 100 i10
Mich Cent 5s 1910
1011p 10114 eineersoll-Rand com_10(1
F
-A
8,110 5127,000
Saturday
ePreferred
18,278
5.452
6,656
100 e2
$83,500 Minn & St L g .5s '11 _F-A 9934 100
internat'l Bank'm Co_103 93 100
20,071
201,180
Monday
42,809
17,768
7,703
145,600 Natoftiex rssext to'09 A-0
N Y Cent 5s 1910
17,731
479,000
Tuesday
- 8
39,551
F-A 1611- 10114 Inenl Men Mar See Stk
28,430
7,090
123,620
Lae ilst
13,143 1,172,000
.
Wednesday
39,629
39,972
7,545
100 98 105
207,400 N Y C Lines Eqp 53'10-57 ()Os% 33
4% Internat '. Nickel
15,138
Preferred
864,700
Thursday
46,187
24,810
100 84
9,559
86
215,100 NINH & H 5s '10-12 10012 10212
Norf ec %Vest is 191011-N 10114 1011
HOLI DAY__
1st g Os 11132____A&O
Friday
,
_
34
86
Pa RR 5s Mch 15 '10 Al-S 10114 10112 International Salt_10
12
15
74,193 12,843,880 116,4321 38,553 $775,220 Public Service Corp 5s- See Sc Ry
1st g 5s, 1951
186,454
Total
A-() 50
55
StLMS'east- 414s '09_1-1) 11/0 10014 In tenstat'l Silver
100
612
StL&SanErg 5s'il-J&J 97
Preferred
975s
1110 69
73
4 WiOg notes'12 opF &A 91
1st (is 194)(
93
.1 i, 10914 111
South'n coil tr 5s '011-A-0
Internet Smelt & Refg 100 13014 13012
South ity e 5s 1910__F-A --87 99
Lackawanna Steel__ -1(k)
9 2
33
All bond prices arc now "and interest" except where marked "1."
Southern Ity Gs 1911.111-N
Lanston Monotype-ZU
9978 100
137g 1414
Tidewater 65, 1913, auar 10218 1025 Lawyers' Mtge Co
,
100 205 275
Wabash 5s, May
Street Railways
5001 As!:
Street Railways
-B Coal 50 90 lob
Big Ask Westingh E1&M 10 1909 100 10038 eLeh & Wilkes
Lord & Taylor
Os 1910 10034 101
New York C 1v
Pub Sen., Corp N J (Con)
RS) 103 105
Bleeck St & Ful Fstk_10u
Preferred
15
'25
J C liob & Paterson
100 1,i 102
Railroad
eLorillard (P). pref_10() n125 135
1st mtge 43 1950-J-J )f,5
75
4s g• 1949
11-N
7512 76 Chic Pen & St L pref-10C
Madison Se Garden-100 '25
• B'y & 7th Ave stk__100 130 180
So J Gas El& Trac _100 120
35
Deposited stock
2(1 6s 1919
o 2d mtge Os 1914__J-.I )100 102
3
1
hi-N
Gu e 5s 1953
1.0 11)0
M-S 98
99
Undeposited stock._._
1
3 ellanhat Beach Co__-100
Con 5s1943 See Stoeli Exe list
No find Co Ity6s'14 J-J 10(1
10
Prior ilen g4 3S13'3US1 SOS / 8) 95
Manhattan Transit____2U * 13
B'way Surf 1st 51 gu 1924 103 105
4 114
5s 1928
.1-J 106
Con in tg g• 5s 1930_J&J / 48
Sit tchell Mining
a Cen t'l Crosst'n stk__100 100 150
55
14
10 * )
8
Ext 5s 1924____M-N 100
Income 5s, July 1930_ /
sionongaheLa It Coal-5U
e 1st n)tge 65 1922_M-N
90 100
512
Pat City con Os '31_11-D 113
47
8
-- Chic Subway
Preferred
1011 26
e Ccn Plc N & E It stk 100 80
27
50 s) 2414 25
60
2d 6)3_1914 opt A-0 100
Ft %V & Den Cy std_100 9712
Mortgage Bond Co..-100 10412 111112
e Cheer & 10th St stk 100 75
ist) So Side El (Chic) See Ch lease list
Nat flys of Mexico-See S tk Ex list Nat Bank of Cuba-100 100 105
Col do 9th Ave 5s See Stock Exc list
Syracuse R T 58'46M &S 10212 1.05
North'n Securities Stubs_ IOU 1121. Nat'l Surety (new)__ 100 175 180
Dry D 1513 & BTrent P & H Os 1943_ J-D 10) 102
Pitts Bess & L 15
Nevada Cons'd Copper-5 *see, 2034
511 *35
37
e 1st gold 5s 1932-J-1) /95
09
United Rys of St LPreferred
Nev- Utah Mtn Is
50
e Scrip 5s 1914____ILA /45
*24 27s
55
Com vot tr etts
100 215s 221, eltallroad Securities Co- 860
eNew Central C,oal
Eighth Avenue stock_100 250 303
20 4) 53
e Preferred
100 6
312 6 11
';
ln C stk tr cfs ser A '52 90
N Y Air Brake Gs See Steli Esc fist
92
e Scrip es 1914____F-A /96 100
Gen 45 1934_ _See Stock Exo list
Seaboard Company
N Y Biscuit tis 1911-11-S 110)
e 42d & Gr St F'y stk_100 223 260
UnitRys San Fran See Stk Exe list
1st preferred
100 350 s 55 eNew York Dock__10(1 33 -(r
'42d St M & St N Ave_100 115 120
4
Wash Rs & El Co
100 43
,
431:
Com de 2d pret-See Halt Lac list
ePreferred
lUu
81
c 1st mtge 68 1910_M-S 96 100
78
100 9012 91
Preferred
Seaboard Air Line
N Y Mtge & Securt ty..100 195 205
2d Income Gs 1915_J-J /8) 75
4s 1951
J-1) / 8/3 8
4 814
Coll Os ext May '11 Ilf-S 5613 97
N Y Transportation_2u
434
Inter-Met
-See Stk Exch ange list
Union Pacific 4.5 Sea Stli Each list sliles-Bem-Pond com _100 *4
Gas Securities
95 105
Lax Av &PavE Os See SC: Exc 1151
Niplssing Mines
5 *1014 101s
Metropol St Ity-See Stir Exc list
New York
eOntarlo Silver
100
Industrial and Miscei
4
3
Ninth Avenue stock_100 150 170 Cent Un Gas Os g '27_J&J 10114 10212
Ont Trans 1st 5s '45 M-N
9612
40 Con Gas (N Y)
Second Avenue stock _100 30
-See tith Exc Ilst
Adams Sap es 45 1947J-D 03
Otis Elevator com-lou 9412 52
94
95 100
10
e lgt in tee 5s 1909_M100 123
Mutual Gas
Ahmeek Mining
25 s143 155
Preferred
100
99
9.)
80
Consol Os 1948____F-A /75
New Amsterdam Gas
Alliance Realty
100
Pittsburgh Brewing-5u *2134 22
s Sixth Avenue stock-100 110 120
1st consol Os 1948_J-J 10112 10212 Allis-Chalmers Co 1st rntg 110 115
Preferred
50
Go
he
Sou I3oulev Os 1945-J-J
NY ScERGas 1st 5s'44 J-J 104 10,i
I 5s 1936-See Stock Exch list Pittsburgh Coal_See Stk *4) 4012
s
1)5
isxc list
So Fer 1st 58 1919_ A-0 85
Consol 5s 1945
96 100
J-J
American Book
Pope stfg Co c()m(new)10e
100 145 155
22
Third Aventie-See Stock Eau list
17
N Y & Richmond Gas 10)) 30
50
American Brass
100 114 116
Preferred (new)._ 100 60
80
Tarry W P & M Os 1928 50
65
Nor Un 1st 55 1927--M-N
97 100
American Chicle com.100 193 196
Pratt & W)lltn prei_lou
90 e Standard Gas com 100 50
YkersStRIL5s 1946 A-0 80
ii812 100
80
Preferred
100 102 105
Realty Assoc (illtlyto
40
28th & 29th Sts 1st 5s '96 25
130 160
e Preferred
10)) n 60
9.1
Am Graphophone cotulOu
10
2) Royal Bak Posed cum 1 is) 150 LOU
•Twenty-Third St stk IOU 2$1 350
1st 55 1930
M-N 10512 10912
Preferred
_100 30
Preferred
35
93
Union fly 1st Os 1942 F- A 94
• )05 107
Other Cities
Amer Hardware
100 118 125
Safety Car Heat & Lt-100 i24 126
80 :Am Gas & Elec. com _ 50 *34
60
Westchest 1st 5s 43 J-.1
36
AmMalting (is 1914--J-D IOU 103 Seneca Mining
23
Brooklyn
Preferred
103
50 *43
46
Amer Press Assoe'n _100 9212 100
Singer Mfg Co
luJ
Allan Ave 5s
A-0 99 102
Amer Light & Tract-103 191 106
465
Am Soda Fount cons _100
Standard Cordage__ 130
_
Con 5s g 11)31
)
4
Preferred
A-0 07 102
100 104 106
114
1st preferred
100
1st Al is Os '31 red_ k-u
5
15
101
B B & W iS Os 1933 A-0
Col tr g
IS
'24
notes-A-0 132
2d preferred
100
Adjust S1 5s Apr 1 1931
'2
Brooklyn City stock _11) x188 193
I3ay State Gas
50 181e 114 Am St Found new-See
212 4
Standard Coupler corn 1 Ot) 25
t1Z15; Ilst
Con 5s-See Stk Exch Esc list
IiinghTn (N Y) Gas Wits
Os 1335
A&O 91 100
Preferred
100 101 110
Bkn ligts 1st Os 1941 A-0 95 100
lot g 5s 1938____A&O 94
9712
Deb 4s 192:1
&A 60
Standard Milling Co-10(1
64
BkIn 0 Co h Sub See Stk Exc list
Brooklyn Union Gas deli
16
18
American Surety
50 215 '
Preferred
100
125
Biclyn Rap Tran-See Stk Exc list
)(Ss 19()11 See Stk. Excil list
54
bS
American Thread pref__5 *414
1st Os 1930
431
,1-1% 82
c Coney Isi & 131tlyn_100 80 100
84
Buffalo City Gas stock100
7
9
Am Tobacco Co com_100 390 400
Standard 011 of N J _RR) 665 675
1st cons g 4s 1943....14 80
83
1st Os 1947-See Stock Exc list
Amer Ty pefders com -1 00 35
Swift & Co-See Bost :At: Exe list
40
Bris C & N 5s 19:11)_J-J
95 100
Con (Jan of N J 5s '36..J-.1
93
97
Preferred
IOU 93
1st Is 1910-1914-J -J 101
97
Gr'pt&LorSt 1st Gs_Al &N
Consumers' L 11 & PowAmer Writing Paper_100
212 234 eTexas& Pacific Coai-100
Kings C 151 4s-See Stock
5s 1938
115
j-1) 100
Preferred
100 1612 181: Ittle lus Co of N Y._.100 150 160
Nassau Eiee pref____100
Denver Gas ec El.
-c 100 11s 122
1st s f a Os 19 op'00-J4 83
Tonopah Min (Nevada/ _1
84
fis 1944
Gen g Os 1949 op-M-N
A-0 95 11.1 2
9212 04
AtIGt &Wind SS Lines 100
Trenton Potteries con1(19 *612 10
5
(1
lst 4s 1951-See Stock Esc hst
Elizabeth Gas Lt Co 100 275
6
Preferred_
100 17
Preferred, new -__10U
19
N Wbg&Flat latex 4 34s 92
97
Essex & Hudson Gas_100 125 127
l0
60
-- 7
Col tr e 5s 1959 _ J-J / 59
5914 'Prow Directory
Steinway let Os 1922-Jel 106 112
100 25
Gas & El Bergen Co 100 64
35
GT
Barney & Smith Car_100
Unt us Typewriter coin100 64
__ 5.)
Other Cities
e Gr Rap G 1st Os 15-F-A 99 102
67
Preferred
10(
1st preferred
Buffalo Street Ity85
100 113 115
Hudson Co Gas
100 11412 120
Bethl In Steel Corp- -see tk isz list
2d preferred
lest consul Os 1931 F-A 101 109
10u 113 115
Indiana Lighting Co
18
'10
Bliss Company corn- 50 104 113
United Bk Note Corp_50 *L5
Deb Os 1917
A-0 106 108
45 1958 up
60
F- A (3112 112
Preferred
50 122 Is7
Preferred
Columbus (0) St Ry -100 96
50 453
Indianapolis Gas
65
50 25
35
Bond & Mtge Guar___100 465 475
United Clear Mfrs_ -100 60
Preferred
103 101 1 6 - 6
1st g 55 1952
62
A-0 75
90
Borden's Cond MIlk_100 127 132
ePreferred____
Colum Ity con 58--SeePh. In list
Jackson Gas Os g '37 _ A-0 91
101 103
02),
Preferred
100 106 108
United Copper
103
Crosst'wn 1st 5s '33 J-1) 100 104
1212 123
e Laclede Gas
4
100 90 160
13rItish Col Copper
Preferred
100 31
eConn Ity & Ltg et/111_10i) 75
8117
9
30
37
100 83 93
c Preferred ...
Butte Coalition Mining 15 *2412 2512
S Casualty
ePreferred
100 210 215
100 821. 5712 Madison Gas es 1926-A-0 102 106
Casein Co of Am com-100
21, 3
U S Envelope cotn
100 68
100
Grand Raptds Ry
60
Newark Gas es 1944-Q-J 130 132
50
Preferred
100 60
ePreterred
75
103 101
IOU 80
Preferred
83
Newark Consol Gas_100 96
9S Casualty Co of Amer-10U 140 150
U S Finishing__ _109 85
e Loulsv St Os 1930...J &J 10312 109 4
90
4
e Con g 55 1948
J-D 106 107
Celluloid Co
100 130 132
Preferred_
10, 117 102
Lynn & Bog 1st 58 '24 .1-I) - _s 1008 No Hudson L 11 & PowCent Fireworks cotn_100
7
8
U S Steel Corporatione New 011 Itys & Lgt-100
1712
5s 1938
A-0 100
Preferred
100 57
Col tr s f 5s '51 opt '11 1133.1 115
70
100 42
e Preferred
43
Pat & Pas Gas& Eiec-100 85
90 Central Foundry
100
23
4 312
Col tr s f 55 '31 not opt 1133, 115
Geri Mg4,%4s '35 See S tk Si
list
e Con g Os 1949_ _ _M ti 10212 10312
Preferred
100 16
S Tit Gu & indem_103
North Chic Street See Ch Icago list
18
St Joseph Gas Os 1937.4-J
70
95 1u0
Deb Os 1019 op '01 M-N
72
Pub Serv Corp of N J.100 100 106
75 eUtah Copper Co-See Stk
list
Telegr & Telephone
Chesebroueh Mfg Co-1011 580 620
Waterbury Co, corn. lte)
Tr etfs 2% to 6 °/sperpet
81
82 eAmer Tele?: & Cable_100 7412
_
76
City investing eo._-100 65
Preferred
Coll 58 e notes '09_ M70
100 10014 sCen tral & So Amer_ _100 110
100
115 eClallin (H B), com_10() luU 103
Westchester Se Brou '[It
North jersey St ay 100 40
Comm'i Un Tel (NY)_25 110
elst preferred
1110
91
& Mtge Guar
95
1st 4s 1948
7712 -- 12 Emp & Bay State Tel 100 60 116
7>:M-N
102 145 155
70
e2d preferred__
100 92
Cons Tract of N
9712 Western ice
7612 7)12 Franklin
1011 __._
100 40
50 Col Se Hock Coal& I pi 10U nt15
75
Westingh Air 13rake___5()
1st Os 1933
J-D 10512 10612 eGold & Stock Teleg _100 100
fii
110
1st a 58 1917
J-J
79
New'kPasIty 58 '30 J-J 103 110
5912 West El & Mfg 5s-See St Exc list
NY&NJ Teleph-See St k Esc list
Col tr 6s Oct 1936 J-J
93 1011: White Snob Min
Rapid 'I'ran St ity _100 245
11
eNorthwestens Teleg_50 108 112
Consol Car lleattne_100
2U
1st Is 1921
Preferred
11,
A-0 109
Pacific & Atlantic
25 55
65 (Ions Ay Let&Refrig-10u
Worthlne Pump pret..)(s, le5 la"
Southern & A tlan tic_ 25 85
95
* Per snare. e Es-rights. ,13a.sts.
out
LAIL not very a...:tAve.
Flat psice.
Nons. Sate pace.
y Ex r ssts.
Ask
list
123
91
::8
70
Outside Securities
iur
BOSTON STOOK. EXCHANGE-Stock Record,Dally, Weekly and Yearly'
Saturday
April 3.
-NOT PER CENTUM PRICES
sI1Aq.E PRICES
Wednesday Thursday
Tuesday
Monday
April 8
April 7.
April 6.
April 5.
Scum
- oi eis
Week
Friday
Shares
April 9
Range ;Stay: Jan 1
1909
STOCKS
BOSTON STOCK
EXCHANGE
Lowest
IIiahau
Railroads
Atch Top & Santa re_100
100
Do pref
100
Boston & Albany_
100
Boston Elevated
100
13ostOn & Lowell
100
Boston to Maine
100
pref
rovidence_100
De
Boston
Boston Suburban El Cos_
Do a w
Bootoopref
or Elec Coe
11anqc for l'revious Yee
11908)
Lowest
Highest
673 Feb 16114 Dec
14
93 Jan'18 103 Apr • 6
826
8
10712 10814 107 10773 107 1077
8112 Met 10414 Dec
1003.i Jan 15 10:334 Mch2d
5
10753 107 1 108 108
25
GOOD
8
53
1
.D oo
8
23914 Apr 8 41. 2 .1an /348
,
Jan
*10378 1047 103 10353 *10358 1045 *10312 10412
225
*10312 1041!
173
239 239 *239 23973 239 23914 FRIDAY
Jan
12414 Jan 7 13112 Apr 8
239 239 *233 239
Ex.1,133
130 13012 13012 13012 130 13012 13012 13112,
224 Jan 12 236 Mch19 2001:i Feb 228 Dec
130 130
2
_ *231 ___
CHANGE
_ _ 230 230 *231
13212.:an 2 14612 Apr 1 114 Oct 140 Jan
*231
,
*231
444
4
1153 145 14512 CLOSED,
- 12
151 Feb 16 lt!U Apr 3 136 Feb 156 Jan
-,
14612 1 f(cl 1 14512 149 145 14612 14534
*158
294 Apr 1 301 .:an u 284 Jan 301 Nov
160 160 *159 162 *159
5
27
.. 299 299 300 300
Mob
__ *21)8
. *293
1134 Jan 2 22 Feb 3
*298
150
*15
16
16
16
--- *15
*15
16
)
5
41
16 -6012 Jan 5 76 Feb 3
*15 16
_ __
100
131,
17 .a n
v
o (013 .1lso
7014 7014 *70 ____ *70 __ -- *70
72
1013 Jan 3 1412 Nich12
*70
Last Sale1112 Apr 1'09
____
4717, Dec
- *11 -_ *11
*11
62 Jan 5 57 Jan 26
*11
56
56
-56
66
55 56
5612 *55
25 150 Feb 16 126 Jan 15114 Dec
19 *_ _ _ De Pref
7 Chic Ju n c Ry & USY_100 143 :an
..- *146
145 145 *146
145 145
100 116 Mehl9 120 J;J: 5 101 Jar' 11012 Dec
1 .
--€1
1/3 1kfr.h 5 163 Dec 165 MO
ill* Ili 113 118 117 118 118 118 *118 1Sale 173 Meh'09
,
n&
63 CoDe Mont, Class 4-100 170 Jan 26 14212 Mch25 13314 Sep os Apr
Last
2
4 Conn & Pass My prof_100 130 Jan 15 175 Mehl() 244 Jan 263 Dec
- 1
1. . -0 1491- ---- ---- ---- --100 267 Jan
2 Connecticut River
: TiL 275
100 132 Jan . .• 136 Feb .. 117 Jan 133 Nov
aFaitenhybu,s,rgEpieroe
13312
-2
86 Dec
6/ Apr
1557, fii- i:iii2 1131- 5512 fii *83 13313
100 75 Jan 6 8412 Feb 2
alc
f
t
$4
318586
84
8312 84
81
85 Dec
1'1 Oct
*3012 81
100 79 Jan 14 85 Feb 18
Do pre! „.
Last Sale 35
8712
*82
Meh'09 ____
85
85 *_
135
100 19514 Ja: 13 19514 Jan 1:: 193 Nov 193 Nov
Maine Central
Last Sale 19514 Jan'09
1334 Nov
814 Jan
Cos_.._ 100 1114 Jan 12 lb Feb 15
1434
-59'5 Mass Electric
1412 1414 1414
64 Nov
40 Jan
1412
;147 143 i 1412 7212 *14 7212 72 72 81414 72
2
100 581-Jan 15 7114 Meh27
Do pref
1,100
7112
721,2
21 186 Apr 6 128 Jan 161 Nov
7214 721 i 7214
2,343 N Y N H do Hartford_100 157 .Tan 4 197 Mch2A, HU Joe
165 16512 165 16512
145 Apr
165 166
164 1643 1 164 165
100 146 Feb
Northern N H
Last Sale 147 Meh'09
Mch 13 200 Apr 1A)6 Feb
Norwich & Woe pref _100 209 Mch 13 209 Jan '
Last Sale 209 Meh'09
8 175 Jan 19618 Dec
100 194 Jan 5 20012
Old Colony
19912 10912 199 200
34 Dec
19812 109
15 Jan
19812 199
200
100 2634 Mc132.5 30 Jan .1
79 Rutland pref
96 Dec
70 Feb
27
27
27
27
100 0014 afeh :: 9212 Jan 11
9Iii
24 Seattle Electric
9112 ;5012 -9112
*9012 911 ; 9112 9112 ill; - - ;Kr; 100 9712 Apr 5 11112 J^,n ' 8813 Jan 102 Dec
Do pref
70
93
98
*9712 98
5 Nov
98
98
Met
9712 98
*9712 98
100 z17273 Feb 26 18873 Apr 5 11012 Apr 185 3 Nov
1,900 Union Pacltic
9738
7834
18512 1883 18713 13878 183 18812 18714 18714 18812 18858
100 9312 Mch 2 9614 Apr 1
Do pref
21
161 Nov
614
*9518 961 1 951s 9514 *9513 9618 9434 9434 *9514 9
100 165 Jan 21) 171 Mch31 150 Jan
Vermont to Mass
9112 Sep
171 Meh'09
Last Sale _ _
76 Jan
50 88 Jan 2 t'8 Mci.,15
•__
80 West End St
110 Dec
95 Jan
i 97 97 004 9634 9612 97 91312 9612
1.i
50 10614 Jan 9 1101. Feb S
Do pref
32
13,3 J'iy 140 Meat
*11012 ___ 11012 11012 *110 ____ 11012 11012 *11012 .._
Nash & Roch_100 144 Mch12 145 Mch12
Last Sale144 Meh'09
__ Wore
---- ---Miscellaneous
:35 Nov
13 Jan
.03.; Jan 2:::
1,865 Amer Agrlcul Chem 100 3314 Jan !: 100 Feb 16
3914
96 Nov
3838 33
77 Me,
3712 371 *3612 3712 3634 3634 38
100 94 Jan 18
Do pref
12 Dec
97
298
96
97
97
97
9 Feb
5
9653 96 3 97
9653 065
973 Feb -3
50
3Jan 26
53
2,085 Amer Pneu Service
Si; 8 4
13 Dec
812 9
3
112 Feb
4 878
83
812 83
4 0
83
50 13 Jan 13 21.%4 ' "13
Do pref
700
9934 Jan 13732 Nov
1914 1012 1912
19
19
1914 1914 19
11:4
*19
100 12618 Feb 24 138 Apr 3
Sugar Relln
Nov
2.342 Amer
183 130
13212 13314 13173 133
131 1:111 13214 133
100 127 Jan J 1:.;0 .' ask „ 106 Feb 132
Do pref
307
12812 12912 12912 130
90 Jan 1.3212Nov
*129 1291 12812 12914 129 129
1302 Apr b
5,025 Amer Telep & Teleg_100 12514 Feb 1 3A2 Apr 2
137 13812
8
323 Dec
16 Jan
13073 1313 13133 13178 13134 13338 13338 137
1 aia
Woolen_ __ _100 2i1 2.2 Feb A
3312
o
3312 *33
254 American
3
,
94414 Nov
n
3312 3234 3314 *33
33
34
773 Feb
il 2
,
i
3212 33
,
100 i)334 Jan 1 100 Ac 12t
10
Do prat
1,211
8 9914 9934 9958 100
99 4 997
3
9978 100
' 91)1. 100
5
390 Boston Land
*4
5
412 41. *4
1.1012.1mn 128 Nov
414 412
,
6
' *4
& Teleg-100 125 Jan 25 130 Apr 3
182 Comb Tele°
129 130
2114 Dec
128 129 - 129 129
4
143 Jan
3812 1,1) 17
*127 128 . *127 128
181 Jan 11
Dominion Iron & Steel__
Last Sale 34
2 ro
Ileh'00
_/53 p ov
*3314 34
414 Met
13:34 Apr 5
*3312 341 *3312 3412 *3314 34
7 Jan 4
934 10
8.547 East Boston Land _100
1038
1373 1034 1014 1034 10
934 10
Ilium....
2 160 Apr ; 101 Mel) 263 Dec
245 Jan
190 Edison Mee
259 260 *,...,.. 260
Jan 162
25814 259 259
25314
*253 259
loo 16033 Feb 24 .6014 Apr i 111 I..t,•, 60 Dec
721 General Electric
4 94
1553 15 3
4
49 ,
15712 16014 159 1593 15812 159
1 l'eL) 15
920 MassachusettsGasCos 100 59 Jan 5
0
9 .Nov
77 Jan
-WI- -6-i- 63 63 0312 6312 64 64 6414 6512
100 89 Jan 5 9414 Apr S
Do prof
505
3
:
, i
i 11)t
9373 9358 9378 9358 9414
9334 9373
9312 9334 93
100 :0212 Mch 12 121) t. en 17 192 d1 e: 215 i,
18 Mergenthaler Lino
207 207
Oct
1
3 alch29
10
,____ 20758 *200 20758 *206 20758 3...._, 20738
2 Jan 5
4
Mexican Telephone
272
4 3
3
73 Nov
2 4 2 4 *23
3
3
40 Met
3
3
3
100 70 Apr 1 75 Feb .
3
Yarn_
*234
86 N E Cotton
7012 7012 7012 7012 *7012 72
76 Mr!, 93 Dec
71
71
100 93 Jan 2 100 Mch28
*7013 72
Do pref
19
*100
100 100
_ _ 100 .100
100 12614 Jan 5 1:15 Melt I , 106 Jan 128 Nov
100 100 *100
652 N E Telephone
13412 135
79 Dec
135 135
5112 .1'in
80 Mch26
134 13412 13212 13912 134 135
_15 Pacific Coast Power_ 100 75 Feb 11 :;6 Apr 8 147 Jan 17412 Nov
*78
*78
80
80
_
*78
100 168 Jan 30
*78
629 Pullman Co
17412 176
1012 Nov
175 115
9 Apr
17412 175
3034 Ja 1 1
4
93 Jan 11
10
17:1 1-74-- 174 1/5
Button-Hole
Reece
Last Sale 1012 Meh'09
10812 J'iy
_ *10 __ _
8813 Jan
*10
100 100 Jan 9 10434 Apr 8
*10
1012 *1014 __
1:5i Swift de Co
Oct
8
4
3
. 3
25 2112 Mch31 :312Jan 4
10:314 10314 10318 1033; 10314 1037 103 4 10412 1043 1043
2112 2112
20 Torrington, Class A
22
*20
22
22 *20
*20
MPh
22
*20
25 2414Jan 29 2534 Apr 5
Do pref
94
2472 2478
213 Jan
25
2
*24
2
25
114 Met
1 j 26
2473 *24
2473 2478 2478
Union Cop L'd & firg- 25
Last Sale 2
Apr 109
*112 2
148 J'iy
*112 2
*112 2
*112 2
Corp.._00 12612 Jan 13 13634 Meh27 1143; Jan
13512 136
6233 Nov
136 136
11339 Jan
3
1357 136
h
135 1351: 135 136
F
25 z54 Mch19 6614 Jan 14
j
55
.!
.. 1 t
1 81 I nirge
55
3
:a.) Nov
8
247 Jan
3034 Mch b
5414 5414 5412 543 55
25 281-,Jan 11
5412 5414
54
Do prof
537
2912 2912
5834 Nov
26 Jan
4/3
100 4134 Feb 21 5 :an 15
2933 2912 2914 2912 291,1 291. 2914 30
U S Steel Corp
5038 50
5114
1 4.143
8712Jan 114 Nov
5033 5033 5112 5033 5114 4973 11378 11332 1147
100 107 Feb 23 114/an 15
49
_pref
Do
8
523
912 Nov
8
4 Feb
Apr 8
11333 1137 11333
114
613 Jan 11 10
113 11312 113
10
8
2,246 West Telep & Teleg_100
8
8014 Dec
*7
69 Jan
8
*7
*7
100 76 Mch 3 82 .7rin 1 .
Do pref
478
79
81
78
77
76
7512 7578 76
a__ 78
Alining
1214 Aug
112 Feb
1014 Jan ,
25
712 Feb 1
814
NO Adventure Con
4112 Nov
24 Apr
8 14 *734 814 *8 4 39 4
8
8
8
833
25 34 Jan 21) 45 Feb 16
3
8
4 393
*3014 303
8513 Nov
394 Allouez
45 Feb
4034 3912 40
40
40
28 8453Jan 2
*39
30 J'zie
8
7.949 Amalgamated Copper 100 0 Feb
7673 767 7712
76
'
3
77
20 4 Jan
7378 7533 7512 7712 76
25 23 Men 27 2734 Feb 9
670 Am Zinc Lead do Sm
2412 2478
25
13 Nov
28 Feb
*2413 2513 2514 2514 2412 2514 25
25 3818 Feb 26 4878 ...an L;
40 Anaconda
6 Jan :
4412 4412 4473 4553
3 Dec
f
8 ,
57 , h 1
3
43 4
212 Jan 3o
25
43 4
3
3
5
380 Arcadian
4053 Dec
473 473
5
14 Jan
5
5
5
5
5
25 30 Feb 20 4453 Apr 8
.1)0
4312 4312 4458
I 5,362 Arizona Commercial
Feb
43
4234 44
43
42
4012 42
Feb
n12
.)
100 Arnold
*.4i
2
11
.85 .83 *.75 .85 *.75 .85 *.80 .90
*.75 .85
430 Atlantic
3
3
12 12 4 1212 12 4 1214 1233
Mch 11 .25 Oct .75 Nov
1312 12
1312 13
*13
1818 Nov
100 Bonanza (Dev Co)_ 10 .45 Feb 16 .60 Jan 2
.55 .45 .45
1014 Apr
.55
*.45 .55 *.45 .55 3.45 1218 3.45 1218 12
BostonCon C&G (rcts) 1.1 10 4 Mch15 1718
3
1213
1.765
25 Nov
12
1114 Apr
4
1173 1173 113 1172 1173
5 1738 Feb 26 2253Jan 2
4,830 Bos&CorbCop&SliMg
30 Aug
151.2Jan
2134 2233 2114 2158 2112 2112
2
3
15 2133 Feb 24 2733Jan
2073 2158 217 2212
2,482 Butte Coalition
24 3 2478
3
25
03 Feb 130 Aug
4
243 2513 25
111) Jan 9
2412 2434 2434 25
468 Calumet & Arizona_ 10 97 Feb 1 680 Jan 4 r665 Men 700 Jan
10114 10134 101 10178 10113 102
10012 102
101 101
102 Calumet & Hada_ 25 535 Feb 26 3434 Feb 111
625 625
21 Feb
3634 Nov
625 625
625
625
629 625
25 29 Feb 1
820 620
Centennial
165
31
3112 *30
*30
.25 Mch ,45 J'ne
3012 31
1 .213 Meh29 .35 -an lb
*3012 3112 301.2 31
__ Cons Mercur Gold
Last Sale .30 Apr '09
8312 Nov
5618 Feb
8234 Jan 2
.30 3.28 .30 *.28 .30
*.28 .30 *.28
2:052 Copper Range Con Co 100 6812 Feb 26 14 Mch19
7834
7812 73
117s Nov
78
7 Jan
78
7712 78
912 Feb 26
20
7812 7612 77
70 Daly-West
10 Dec
1034 *10
4
83 Dec
4
103
712 Feb 1 1578 Mch 1
1053 1033 1053 10.1.1 1012 1012 *10
4,480 East Butte Cop Min_ 10
4
1424 1478 143 1478
23 Nov
.09 men
4
,
Jan li1434 15
212
8
13 Mch31
12
1412 1458 1453 1513
_ Elm River
Last Sale 153
2
1913 Nov
Meh'09
612 Apr
2 *--,.
Apr 1
*173 218 *--2
25 13 Feb 25 17 Jan 4
1,654 Franklin
3
24 JI n
00
110 J :ly
1.5sJ
4 1614 1614 *15 4 18
1613 163
1534 17
Feb 26 110
-ir 1514
251 Granby Consolidated_100 90
96
96
97
96
673 Jan
1318 Aug
4
96
96
95
95
9 Feb 26 1234 Jan .
95
20
95
9,516 Greene Cananea
1033
.J'iy
3
3
5
973 1013 1013 1014 1014 10 3 1013 10 3 1014 Sale 2
Guanajuato Consol_
Last
Dee'08
2634 Jan
1734 Feb
J 3314 Feb 1,
--- ---- ---- ---- ---- 2434 2514
---ii Isle Royale (Copper)_ 25 24 Jon 34) 2312 Jan 4 10 Sep 2414 Deo
2614 2612 2614 2614 2512 2512
233
26
25 18 Jan
5,325 Lake Copper
g
1214 JAin
1714 Jan
1
oh
25 13 Jan 30 1634 Feb 16
2014 2012 2014 21 2058 2133 2014 2034 2012 2012
665 La Salle Copper
83
1412 1412 1412 1478
2
814 Apr 8
15
414 Mch 1 ,
25
15
15
145
3 15
1453
8,935 Mass Consol
4 814
73
.75 J'iy
3
74 8
Ws
8
714 8
61g 714
25 .50 Feb 57 .65 meh 3 .25 7 Jan
200 Mayflower
12
4 Jan
i)
1
33i Dec
z Jan 8
.60 .60 *.60 .70 3.60 .70
*.60 .75 *.60 .75
4
ss Feb 25
10
685 Mexico Cons M & S
413
4
8
7
7
38 3 8
2
373 4
373 378
8
*378 413
5 1234 Feb 26 153 Jan 4
4,270 Miami Copper
1478 1412 143.1
1512 Nov
714 Feb
1414 1453 1433 14:58 1434 1478 1434
978 hIch19 12 Jan
25
2,000 Michigan
1234
4
3
73 Nov
3
45 Feb
701g Jan 8
1233 1212 1278 12 4 12 4 123
12
25 59 Feb 1
*1114 1131
335 Mohawk
63
63
62
62
13 Jan
25 Dec
6212 63
63
11 .40 Ant t
6212 63
*62
200 Montana Consol C do C 10 .19 Feb
3
'20 4 Nov
8
4
33Jan
203 Apr '6
.40 .40 3.35 .41) *.35 .40
3.35 .40
2,000 Nevada Consolidated_ 5 1612 Feb 26
2012 2 2
01
2058
8 May
438 Oct
1, Jan 4
03
2
8
33 Mch 6
1934 1934 20 -- 8 2014 2034 2014
e Mines & S.. 10
780 Newhous
5
312 3 8
3
8934 Nov
5
3 3 35
5
8514 Jan 2
4034 Feb
358 3 3
4
3
334 3
334 334
5 66 Mch20
1 J'iy
1 5,715 North Butte
3
7213 7312 7233 7234 72 8 7314
Jan 8 .50 Jan
7112 7134 73
70
25 .60 Jan 3 GO Jan 2
300 Old Colony
.60 .60 .60 .80
6012 Dec
.60 .60
28 Jan
25 4714 Feb 24 5814
*.60 .6o 3.60 .65
5312
4.772 Old Dominion
53
5278 53
Feb 10
5212 53
5114 5112 53
51
;5 122 Feb 2.2 138
175 Osceola
130 130
130 130
.
131 131
1:30 130
Feb 1 3412 Apr 1
130 130
33 4 3
3
3,168 Parrott (Silver & Cop) 10 26 Jan 14
412
1„ meri 114 Jan .
1 Jan II
14 3312 3378 3334 34
3312 34
1
33
32
Phoenix Consolidated 25
Last Sale I
1
Jan'09
1 3_ _
3_
1
_
141 Jan 4
77 Feb 100 Aug
1 4._
_
f_
25 35 Feb 1
88
--ii Quincy Island
8812 88
3
63 Nov
go
.§
.
*3
2 Men
514 Jan 5
41 Jan 30
88
gg
25
Rhode
Lad Sale 5
Feb'09
3
33 Nov
s
p Apr
272 .In . .
-___ __-- --__
2 Feb 25
-990 Santa Fe (Gold & Cop) 10
213 218 *218 233
1914 Nov
214 214
04 Feb
218 218
218 213
10 1312 Feb 26 1773 Jan 4
4
2,737 Shannon
4
143 143
4
.
361 Nov
14 Apr
1413 1433 1413 1434 1433 1473 1434 143
25 34 Jolt 5 4614 Mch 1
41
1,015 Superior
4134 4134 4134 4134 4134 41
1712 Feb 16
4012 4012 41
2,530 SuperloresBoston Min 10 14 Mch24 1773 Jar 2
3 155
20144 Nov
1518 1538 1558 1512 1512 15 8 14 8
1413 Oct
1434 143
4 15
960 SuperiordoPitts Copp_ 10 1313 Meh20 90 Feb 25
14
14
88 Nov
56 a n
1413 1378 1373 14
14
14
14
25 72 Feb 1
k
165 Tamarac
76
76
78
*76
7712 78
ii 25 Aug
78
78
*77
1218 Feb
78
1753Jan 23
25 12 Feb 19
1,330 Trinity
14
1414
14
(
.): 31 A er, 1113 Nov
15 1vp i
3 1413 1438 14
1418 1418 1412 147
1614 Jan 8
100 1138 Feb 2
100 United Copper
3
8
ov
1312 1278 127 *12 4 1314
1312 *13
*1214 1234 *13
100
Do pref
Last Sate 36
Nov'08
304 Nov
9 Mch
Apr 1
3
3211
-7.755 United StatesCoaltc011 25 23 Jan 12 327
;F32- 3253 3214 3253 3212 3234 3214 3214 32
U S Smelt Ref & Min_ 50 30 Feb '25 4652Jan 7
5.467
4112 423
4
4 773 Nov°
42
41
4034 4134 4112 43
42
i
41
4 Fg
2
50 44 Jan 8 461.. Jan 12 :
Do prat
1,829
45
45
4412 45
7 Nov
45
4434 45
45
(33 Jan 26
4478 45
933 Sep
514 Apr 7
1.335 Utah-Apex Mining__ 5
514 514
514 512
y
3
9
.
6
§ ga
4
512 5 4
6
291; Jan
4 6
*53
5 3714 Feb 24 493 Jan ::
Utah Consolidated
4,025
3
4112 33 4 3973
39
4213 4233 4134 42
42
42
2873 May 53
26 47 Jan 4 '
1
3934 Feb
4312
135 Utah Copper Co
*43
44
44
5 Ni
3
212 Apr
8 433 4313 43 43
3
4:33 433
532 Feb 15
;;5 Jan 0
25
655 Victoria
3 473
47
473
4Noi
473
3
e7
434 434
434 5
;
II Jan
612Jan 2
*434 514
5 Jan 13
25
GOO Winona
Nol
512
5
12
12 5
5
*512 614
512 512 *512 534
25 an NIch18 152 Jan 2 11512 Jan 155 g Oct
20 Wolverine
3
3
145 145 *146 . *145 146
144 144
*143 146
4 Jan I., .50 Slav
232 Jan 4
25
110 Wyandot
Ws
3
3
312 *2
234 *234 23.4
234 234
*23i 3
and rights. ,
Ex-div.
• Hid and asked prices. d New stock. e Ass't paid. 6 Ex-stock div. 7 Ex-rights. a
c Before pay't of assess'ts caned in 1909.
'..i'll Vi
'II 11.", 42
Mach
11'1
,
2g 13 ,,feh17 14 .:Faelbi
Aug:1
3
,
1701, Febn 921; Er.
agr4 8912 gio2
935
Boston Bond Record
APR. 10 1909.1
,
iiON IP,
zr, S
Price
BOSTON STOCK it)Crli'OE - ,- Thursday
L',"1,
WEEK ENDING APRIL 9
Aprit 8
km Tesler Se Tel cell tr 48.1029 J -J
Convertible 48.. ...—1938 M-8
Am Writ Paper 1st s t 5s t, 1919 J.j
Ariz Corn Cop let cony 63 1918 M-S
A.tenToo& 6 Fe gen g 46..1995 A-0
Adjustment c 46....J'ly 1995 Nov
J'ly 1995 SI-N
Stamped
1955 JD
50-year cony 43
1917 J-D
10-year cony 5s
Boston Elect I. oansol 56.1924 M-13
1916 J.J
Boston & Lowell 45
1
4
1
4/
1944 J -.I
Boston & Maine
4
/
6.1947 F -A
Boston Terminal 1st 31
Bur & Mo Riv ex tis...--1918 J -J
1918 J •J
Non-exempt 68
1910 J4
Sinking fund 99
Butte & Boston 1st 68.-1917 A-0
Cedar Rap & Mo It let 76.1916 141-N
'287s
1909 J -D
Oent Vermt 1st g43..2.1ay1920 Q.F
0 B & Q Iowa Div 1st 56.1919 A-0
Iowa Div 1st 46
1919 A-0
Debenture 58
1913 M-N
Denver Even 48
1922 F-A
Nebraska Extev 4s
1927 M-N
B & 8 W s 1 4s
1921M-8
1111nols Div 3'as
1949 J -J
Joint bonds See (It Northern
Ohio J c By & Stk Yds 58.1915 J •J
Coll trust relunding g 491940 A•0
011 Mil & St P Dub D 613_1920 J • J
Ch M & St P Wie V '(iv 8s11321' J • J
Chic & No Mich lst gn 56.1931 lol-N
Ohio & W Mich gen 58.-1921 J-D
Concord & Mont cons 48-1920 J -D
Conn & Pass R 1st g 48...t114:3 A-0
Cons 88 L coil trg /teeth, 1967 J..;
1327 A-0
Current toyer 1st 56
Det Gr Rap & W 1st 48-1946 A-0
Dominion Coal let s t 68-1940 M-N
1915 81.8
ritenburg 43
1927 M-S
49
Fremt Elk cfe Mo V 1st 64 1933 A-0
i1r33 A-0
Unstamped 1st 66
Gt Nor 0 IS & Q colt Ca' 48 1921 J • J
11,21 Q-J
Resistered 4s
Week's
Range or
Last Sale
boil :,, DS
ZO ...P.
BOSTON Srl'OCK. ENO li•GR •i... t
WEEK ENDINU APRIL 9
2.;4'.
flange
Since
January ,
SP
Buhl A 8. Low High
8
955 716 9154 957
4
/
4
/
1031 1715 911 1031
4
/
83
83
6 130 185
185
195 Sale 175
4
/
8 2 100 1011
8
1005 101/ 1005 1005
8
4
1
8
w23, 948
8
93/ 95
945 Mar'09
4
1
,
93 8 94;
4
/
931 1.15
937 Mateo:.
4
/
1021 102 19
;
102 Jan'09
107% 108°9
108% Mar'09
109
110 9(.1,44
4
1001 1004,
10014 Mar'09
.....
•
4
/
1041 Oct 'Os
1121 Ja11103
4
/
104 Oct'07
102 Sep '05
4
/
991 Jan 'UV
100 J'ne'01
117 J'ne'08
......
8
1111 Ply'05
86
1. 81
83
83 Sale 83
1103 Oct'07
100-e
4
/
- 1001 Mar'09
100 Apr'08
..
8100
995
... .....- 99% Mar'09
-.
4
1
101/ 101,
1 Mar'09
.,— 101,
8
8
885 9,5
8
985 Feb '4111
4
/
1111 92
2
/
911 Mat'UV.
Ask Low
,
By
95% Sale 94%
4
1
103/ Sale 08
102 103'4
8
4
/
102 Le Sale 1021 1025
94
91
112'S
94
92
921/4
4
/
4
/
1.181 1181
4
/
1181 Feb'011
120 Fen'0.5
101 101;
8
102 102; 1023 Mar'oli
11 102 105
4
/
4
/
'1041 105 1041 105
91 Dee'07
4
/
1121 Jan '03
4
163 181
4
/
,
16 4 Mar'09
06
96
91.1 Feb'09
4
/
911
87
4
/
911 Mar'09
91 Nov'Ob
10318 Apt'08
,
96 Apr'0,.83 138
133 Mar'09
140 Apr'05
4
/
981
98 Sale 96
4
/
981 31 .
977k
2 97% 981
4
/
8
977 Sale 977
Illinois Steel deben 53....1910 J-J
Non-conyertdeben 66...1913 AM
la Falls &Sioux Clet 76 .1917 A-0
Kan 0 Olin & Sur let 56-192A A-0
Kan C Ft 6& Gulf ext 58..1911 J -D
Kan C Ft Scott & M 68....1928 M-N
Kan CM& B gen 48
1934181-S
Assented income 58
1934 1`41. 5
Kan C & M Ity aSlIr let 561929 A-0
Maine Cent cons 1st 7s 1912 A-0
Cone let 4s
1912 A-0
Marc Hough & Out ist 6s 1925 A-0
Mexican Central cons 4s 1911 J-J
lateens nic 13
Jan.i.931/4'Iy
10 cons mode
Jan 1938.Ply
Mich Teleplat 56
1917 .1- J
mien° Gen Elec con g 58 1929 J -J
1929 F-A
New Eng Cat Yarn 56
1915 A-0
New Eng Teleph 56
1916 A-0
fin
vow England cans g 5s 11145 J -J
1931. A-0
Boston Term 1st 4s
4
161956 J-4
N If N IL & II con deb 3/
,
194 ,, J-.7
Cony deb 63 ((Ms)
1924 F-A
Old Colony g-old 4s
Ureg Ryas Nay con g4s 1946 J -D
102'1 F-A
ureg Sit Line 1st g 68
Repub Valley 1st s 1 6s 1919 J -J
6
4
/
Rutland 1st con gen 41 1941 J -J
Itutlaud-Canadian 1st 431949 J -J
Savannah Elec 1st cans 58 1952 J -J
1930 F-A
Seattle Elea lirt g 58
i'erre Haute Elcc g as.. 11)21( J -J
1918 SI-S
rorrington 1st g 53
Union Pao RR as 1 gr g 46 1947 .1-1
1927 J-J
20-year cony 48
United Fruit gen 8 I t;6 1923,J• J
11 8 Coal & Oil 1st s f 63 19381114-N
1
(.11- Steel Corp 10-60 yr 56 196.3 11-N
West End Street My 4s. 1915 F-A
1914 OA-8
Gold 41
a
4
/
1916 411-N
Gold deoenture 48
1917 F-A
Gold 4s
Western Teleph & Tel 58 1932 J -J
Wisconsin Cent lat gen 481949 J -J
wisconsin Valley ley 78_1909 J-J
Price
Thursday
April8
Week's
since
C
Range or
January 2
Last Sale '
Rua .,,
Asa 1.0te
Bia
1004 Mar'09. ....
4
/
I.001
8 i 90 ,.. 14
8
1005 Sale 1000
,
117 Apr'0
4
953 Feb'09 ....
94
4
1
100/Jan 'Ot1 ...
1
120
1194,120 120
93 Mar'09 ...
93
'
90
tou
89
4
/
10318104,8 1031 Mar'09 ....
8
1136 Nov'06
1011 S&P 116
4
/
'
115 J'ne'llS
86 Mar'09 . .
1116 Apr'0,,
4
/
11151 A pr'u
104
Low /ACM
4
/
1001 100%
4
/
41001
/
1001
4
1,55
90
4
/
1001 101
1
/
1164 120
93
90
8(1 18 90
1031 1033
4
/
4
84% 86
.
4
/
1021 Aug'04
4
1
104
4 lt12/1041
Sale 1.114
4
/
101 Feb4.114 .... 101 101
4
/
1001sop 'Oz•
14 97% 993
103
103
135 Mar'th)
131 1351
4
/
4
1.Ply ,.--;
118/
4 96,
4J'ly'Os
5
1187 Slor'0,, .... U87
4
/
81191
105 Dec'0
'
103'S
1071 No'
4
/
'W
101 Stat'02
9812Mar'01;
106 Mark/9 .... i051 1061
8
4
/
97 Apr'0;
4
/ ,
1491 N,,, 01,.
4
/
1011 Mar'09 .. 102, 1031
4
4
/
.
........... 104 Mar'(.6 .
8
10 .5 104
4
,
951 11 95% 95,8
4
955 Sale 953
113 Mar'O. .... 120 133
8
1027 mar o9 ... 1021 1044,
,
4
/
4
/
961 igeti'V
4
/
1021 Feb'09 • .. [024,1024,
39% Lee W3
1001 Mar'09
4
/
4
/
8
100, 1001
4
/
991
97
3
97
9712Sale 96
4
/
931 FeiP0
4
. 937 987
8
'.x'05
.109% ,
Nars--Buyer pays aGurnet1 interesL In addition to the purchase price tor all Boston Ronda- " No Price Friday: latest WA and SWUM.
r at
price.
Philadelphia and Baltimore Stock Exchangeo—StJok Record, Daily, Weekly, Yearly
share rrices—Not Per Contain Prices
Saturday
April .1
Monaali
April 5
Wednesnay
April 7
710a<lay
Apr“6
l'hursdaf/
April S
Priaay
April 11
ACTIVE PSTOCKS
Sales
o/ the
Week (for Ponds and inactive
Stocks see below)
),hares
46
46
4
/
*451 46
4
/
*451 46
46
46
8454 46
.
4
155 16
8
4
/
361 357 86
86
4
/
, 331 36
85% 355
4
/
4
/
4
/
8 121 121 *121 1234
4
/
121 125
4
4
/
8
8
*123 125 .121 125
8
4
/
234 2354
231 2314 237
23
23
23
23
23
4
/
4
/
4
/
641 031 631
4
/
4
/
031 831 64
4 634 68
4
/
*631 635
4
/
4
/
4
/
4
/
4
/
4
/
4
/
181 181 181 201 201 211 211 231/4
r
4
/
181 183
4
/
105 1051
4
104. 11/5
4
/
1041 105
4
1041. 104
104 11/5
4
/
4
713 781 73; 74
4
/
721 73
, 724 73
4
/
721 725
4
/
4
*453 461
547, 54%
,
00, 9018
..
...
4
/
671
42
4
113
4
/
301
4
/
681
Inactive stocks
Allegheny Val pref....511
51
American Cenieut
100
Amer Pipe Mfg
Bell Telephone (Pa).1011
60
Cambria Iron
Central Coal & Coke.100
Dorm!Tree of N J...10
Diamond State Steel..1
1
Preferred
Easton Con Electric 0,501
Moo Storage Batt....10
Preferred
101
Ft Wayne &W V
10
61
Germantown Pass
Indianapolis St
10
Indiana L Ilion Tr....100
Insurance co 01 N A..10
Inter Sin eow & Oh em.5
Keystone Telephone ..50
Preferred
5
KeystoneWatcliCase.10(
1
Lit Brothers
5
Little Schuylkill
Hinehill & Schuyl H..5(
N Haven Iron & 6tee1.6
541
Northern Central
North Pennsylvania 50
5
Pennsylvania Salt
Pennsylvania ..-.teel..10
10
Preferred
Phila Co(Pills) prof .51
German & Norria.5
Phil
5
Phila Traction
10
Railways General
'Sump:Leh Iron & Steel..5
1
Tidewater Steel
1
Preferred
Tonopah Mining of Nov
104
Union Tr of Ind
United N J RR &0.10(
Unit Trac Pitts pret..5
Warwicalron&bteeL.1t11
,Weat Jersey & Sea 811.50
(Westmoreland (.'oaL..501
$/filices Gas & Eiec..1001
Bia
Ask
0
12
or,
t..i
G
4
/
4
/ 671 675,8
621
42
*42
4
/
421
4
113
113 11%
4
4
/
311 3158
31%
4
1301 (391518 691
4
/
1024,
,
463
77
45
46
1
21 , 22
12
14
13
14;
63
4
1
105/ 106 4,
106
4
/
1041
42
424
92'S 1)3
8
4
/
81
4
63
6,8
253
4
/
71
;
4
73
PHILADELPHIA
Bonds
Prices are all "and
interest."
Al Val it ext is 1910 A-0
8'33.F-A
4
/
Alt &LVElec 41
Am Rye cony 58 1911.J-D
All Oily 1st 58 g'19.11.N
Berg&s.EBrw 1st 68'21 3-1
Betide Steel tIs 1998 44-F
Choc& Moist5s 1949 J-J
Ch Ok & G gen 54'19 J4
Col St My 1st con 5s 1932
Con Traoof NJ 1st 58.'38
E.14 A 1st SI 5s 1920 M.N
Elec & Peo Tr stk tr Otis
-L
Eq IL Gas 1st g 58 1928
Indianapolla By 46.1933
Interstitto 46 1941 ..F-A
8
4
/
Lehigh Nay 41 '14.Q-J
1914.41-F
Rite 48 g
g 1924.1.1-F
Gen M
Leh V C let 55 g '33 J-J
Leh V ext451st 1948.J-D
M•S
2d 76 1910
-fl
3
Conaol 68 1923
3-D
Annuity 68
Gen cons 4s 2003.M.N
Lela V 'Bran con 43'35J-D
New Con Gas58 1948 J-D
Newark Peas con Os 1930
J.J
NYPh& No lat48
Income 48 11139...31-N
NoOliioTra.c con5s'19.J-J
. Var
Penn gen 68 1910
Var
Conaol Os 1919
Penn & Md Steel con 6s.
Pa & NY Can 5s'39.A-0
A-0
Con 4s 1939
M-N
Penn Steel
People's Tr tr certs46'43
P Co lat& col tr 58'49 M-S
Con& coi tr Os 195111-14
Phil Elec gold trust We.
Trust certifs 48
P & E gen MS g'25.A-0
Gen M 441 g1920..A&O
H
Rid
Ask
103
4
/
971
1/84 130',,
4
/
1181
10512106
1064
93
4
931
135
86
41)18 50
4
1023
110
104%
120%
148
4
/
971 973
4
66
064
106
102,8
11)9
116
100
101
OS
,
1033
102
74
•Bid and asked; no sales on this day. Ii Ex-rights. .1.37.50 Dead. t
Highest
Lowest
12,8
Jan
Slat
Jan
let.
Vet,
Jan
1/to/test
30 Dec
81;Dec
102 Dec
15 Deo
26 Dec
1:: Nov
Philadelphia
4
/
4
14 American Railways__ 50 45 -Tan 4 461 Feb 1N., 42,1 Mat 46 42.Nov
8Feb 401 Deu
4
/
4
8
50 327 Feb23 393 Jan" 267
1,848 Cambria Steel
) 81 Jan 111 Dee
4
/
4
4
8
822 Electrio Co of America 10 x107 Jan 2u 123 Slar34
4
/
8
31 Jan 193 Dec
4
4
1
100 15/Jan 3 233 Feb .,,
1,655 Gen Asphalt tr ctia
4
/
8
4
/,
100 53 Jan 5 061 I ci) V+ li,7 Jan 591 Dee
Do pre tr cite
455
8
35 Feb 17 Dec
4
/
100 14% Jan 5 231 Apr n
34,504 Lake Superior Oorp
s
057 Lenigh C ..fs Nay tr ctfs 50 96 Jan 5 1014, liar 8 78'4 Jan 973 Dec
4
50 67 F01.)13 76% Jan 1 52% Feb 765 Dec
0,512 Lehigh Valley
8
27 Apr
151e Jai,
100 11318Jan 19 1%Jan 1'1
Marsden Co
.8
1
/
4
/
50 611 Feb24 (171148 Apr 2 54548Jan 664 Dec
2,383 Pennsylvania litt
1
/
4
/
10 Pluladelp'aCo(Pittab) 50 401 Feb 24 43' .ion 2 341S alai 444 Dee
4
/
51 Feb 11% Nor
4
/
4,2145 Philadelphia. Electricit 25 111 Feb23 12 Jan 21
4
1
8
4Jan 3 315 Apr i d12/2'nt 25‘A Dee
50 247
30,084 Philo Rapid Transit
548 Feb ;11118Dec
4Jan 4 46
/
4
/
54) 591 Feb23 721
13,106 Reading
50 44 Mar .3 46 Jan..• 311 Jan 45;Deo
Do lat prof
4
1
4
50 45148 Mar •,. 471 Jan 2 37/JaZi 4940 Deo
Do 213 plot
40
4J'n 567 Apr
/
4
8
50 51 Jan 5 563 Apr 7 z441
11,538 Union Traction
.
4Jan 943 Dec
/
4
/
4Feb24 941 Heti 6 731
/
50 891
Irupt
4,016 United Gas
100 28 Mar/6 30 Marc., 25 J'n 28 Nov
Welsbach Oo
.
Q
0
4
/
4
/
8
.461 46L4
4614 464, •463 461 .46
8
8 551 563
4
/
561 505
4
4
/
e
647 65% 551 533
s
4
203 y 1
4
/
90% 901 904
4
inp 911 90
4
/
PHILADELPHIA
Lowest
.aange /or Previous
(
Tear !WM)
Baltimore
Con.Gas EL L.& Pow.100 30 Mars 35 Jan 25 20
Ilk/ 76 Mar13 85 jan 6 (15
Do pref
50194) Jan 4 l1 1 Jan le 80
86 Northern Central
4
4
100 113 Feb a6 15 Jan 4
769 Seaboard Cnew)
IOU 22% Feb24 27 Mar/, 10
Do 211 prof
660
e
302 United Ryas Electric 50 93 Feb 3 Ills mar19 10
1064,1064, 106 106
10518105- 105,8106
3
14 4 15
4
143 15
8
15
1
/
8
147 147
8 144 147
*
27
27
27
*26
27
'27
27
27
4
/
*261 27
8
4
/
111 113
11
11
4
/
A
11-18 .111
4
/
111 11'-, .11
4
/
8
67% 1174, 671 675
8
667 67 .4
/
421
4
/
421 *42
4
/
421 *42
.42
11% 11%
4
4
/
111 115
4
/
111 11
8
197 80,
4
4
/
191 297
29
29
4
/
661
.
8871a, 67151868154. 68
673,
Range Since
Jan 1 19,9
98
1024
4
741
PillI•ADELPHIA
Ph & Read 213 58'33.A.-0
.1-1)
Con M 7s 1911
Ex Imp Iii 4s g'47.A-0
Terminal 58 g1941.Q.F
P W & B col tr 4s'21.3-1
Portland By 1st 5s 1930.
Roch 1ty& Leon 5,3'54J4
Spanish-Ara Ir Us'27 34
U Trim Did gen 56'19.J.J
Un Rya Tr oils 4a'49J.IS.1
United Rya Inv lat con tr
M-N
a fba 1926
U Trao Pit gen 58'97 J4
Welsbaoli a 1 5s 1930.3.1)
Wlks-B G&Jii con3s'53J-J
BALTIMORE
Inactive Stocks
Ala Cons Coal& Iron.100
100
Fret
Atlanta 4fa Charlotte .10l,
Allan Coast L (Conn)100
100
Canton Co
Cons Cot Dunk Corp...50
50
Preferred
Georgia Son &
100
let prof
100
2d pref
G•13-8 Brewing. —100
Bonds
"
Prices are all and
interest."
Anacestia & Pot58
Atl & Cli ext 443 '102-1
Allan C L RE481952M-8
AU Coast L(Ct)ctfs Os J-D
CtLi of indebt 4s. .J-J
-J-J
5-20 yr 4a 1925
BaltCPass 1st58'11 M-N
Ball Fundg 68.1916 M-N
Exchange 348 1930 J-J
A-0
Balt& P 1st
Ball Traci 1st 58-'29
No Bait Div 581942 J-D
Cent'l By oen581932 31.14
Ext& Imp 58.1932 M-S
Chas OityRy 1st58'23J.J
Bid
Ask
0A1.11.11014E,
Bitt Ask
4
/
58'99 21.6 891
Chas RyCi &
4
/
1041 10418 Chart C& A ext.58.'09 J4
1910 A-0
20 78
City& Sub 1st Oa. '22 J-D
,
1201
s
100 1004 City& Sub(Was)lst54'44 105 1051
Coal & 1 My 1st 58'205.A
Col&Grav latiia.1916J-J 110
eonaol biaa ths .1910 J-D 10111011 102
4
/
19393-1) 111
5a
78., G a& Ala 1st GOA Os'45.1-.1
78
GaCar&N 1st 5s g'29J-J 105 1054
1
/
83
4
1
/
,
83 4 Georgia P 1st 6s...'22 J-J 115; 116
tiaSo as Fla lat 501945J-J 10918
4
/
421
79% 801 ti-B-8 Brew 3-48195111.3 42
4
4
115 131
213 income Os 1951 M-N
s
119 100
Knoxv Trac 1st 5s'28.A.-0......
LakeR
lat gu5s'42M-S ...... •..-.
MaconRy&LtIst5s'51J4
96,8 .97
.
Memphis st 1st 56'45 J-J
'14
112
Met.St(Wash)lst58'255A
180
4
/
791
Mt Ver Cot Duck 1st 06. 79
26918 280
Npt N&O P let 56'88 M-.51
115
4
/ General 58—.1941 51.3
71
22
Norfolk St 1st 58'44..J-J 105
24
8
4
1
North Cent4/ 1925 A-4.) 105
4
/
Series A 53 1926. .J4 1131
95
4
/
Series B 56 1926. ..1-9 1131
70
75
Pitt Un Trite Os 1997.J.J
2
Polo Vol 1st 58 1941..J.J
Say Fla & West55'34 A-0
Seaboard A L48 1950A-0 72
Seab & Roan 58 1926.3-3
South Bound 1st 53. A-0
1008
94', 95,8
4
/
8'29 M-N
97
'27'2 UE1 L&P lat41
Un Ry& El lat 48'49 M.
4
/
871
J.D
4
543
..
Income 48 1949
81
3
79 4
Funding Os 1936,..J-D
89
Va Mid 28ser 65'11.11-S
1t1 aeries Us 1916_11-8
4th sec 3-4-0s 1921.11.S
100 1005
4
5th series 58 1926.61.6
Vs(State) 36 new'32.24
112 113
Funddebt 2-361991.J-3
West N C con 6s 1914 J -J
113 114
WesVa C&P lat6g'11 J.J 102
•
104 1041s, Wil & Weld 5s..1935.J-J 11312 • •WOW
4
1
4
/
paid. t $131 paid. 3 535 paid. a Receipts. b $25 paid. c$30 paid. 44/42/ paid.
936
THE CHRONICLE
[VOL. Lxxxvin.
$intestatent and `,44ailroad inteiligence.
RAILROAD GROSS EARNINGS.
The following table shows the gross earnings of every STEAM railroad from which regular weekly or monthly returns
can be obtained. The first two columns of figures give the gress earnings for the latest week or month; and the last two
columns the earnings for the period from July 1 to and including such 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 other
period The returns of the street railways are brought together separately on a subsequent page.
Latest Gross Earnmos.
ROADS
Week or
Month.
Current
Year.
Previous
Year.
July 1 to Latest Date.
Current
Year.
Previous
Year.
Ala N 0 & Tex Pac.
49,000
47,000 2,245,684 2,208,178
• N 0 & N East__ 3d wk Mch
26,000
Ala & Vicksburg.. 3d wk Mch
26,000 1,154,143 1,147,252
22,000
' Vieks Shrev &Pae 3d wk Mch
24,000 1,034,609 1,127,717
5,693
4,202
Ala Tenn 6.: North__ January __
37,624
27,633
Atch Ton & S Fe_ February _ 7,215,792 6,752,551 61,834,210 62,808,854
Atlanta Birm & Atl 4th wk Mch
63,346
38,289 1,556,630 1,236,568
Atlantic Coast Line. February _ 2,391,285 2,231,525 16.883.189 17,441,191
-Baltimore & Ohio__ February _ 4,955,671 4,682,348 47,284,007 52,744,611
Bangor & Aroostook February _ 249,975 212,383 1.890,133 1,746,530
Bellefonte Central__ February _
4,864
4,009
47,313
42,769
Boston & Maine___r February _ 2,810,433 2,491,615 26,202,187 27,270,576
-Bridgeton & Saco R January __
3.467
2,860
30,246
34,066
4th wk Mch 234,130 214,210 5,297,608 6,051,014
Buff Iloc'n & Pitts_
Buffalo Si Susq____ February _ 183,133 131,092 1,542,796 1,458,539
Canadian Northern_ 4th wk Meh 280,200 216,500 7,402,600 6,997.000
Canadian Pacific__ 4th wic Meh 2,164,000 1,804,000 56,880,725 54,887,097
Central of Georgia_ 4th wit Mch 317,200 287,800 8,823,924 9,115,701
Central of New Jer_ February _ 1,762,353 1,800,737 16,874,155 18,580,519
Central Vermont__r February _ 237,593 206,979 2,317,446 2,352,160
Chattanooga South_ 2d. wk Mch
1,441
1,448
59,914
80,088
Chesapeake & Ohlo_ 4th wk Mch 780,153 647,311 19,584,675 20,383,355
Chesterfield & Lane February _
5,108
5,918
35,077
43,607
Chicago Si Alton Ry 4th wk Mob 263,707 281,057 9,597,033 9,456,573
Chic Burl & Quincyr February _ 5,719,427 5,205,865 53,130,012 54,495,044
Chicago Great West 4th wk Mch 229,254 207,270 8,251.280 6,227.246
Chic) Ind & Louisv_ 4th wk Mch 150,221 134,475 3,925,480 3,938,626
Chic Ind & Southern -See New York Can tun.
-Chic Milw & St Paul February _ 3,031,519 3,937,988 40,743,316 39,411,975
Chic & Nor West_r February _ 4,691,857 4,078,222 44,681,725 44,603.790
Chic St Paul 111 & 0 February _ 923,157 894.542 9,149,716 9,055,667
Chic Term TransRI February _
77,600
724,126
74,070
759,453
Cmn Ham & Dayt_r February _ 524,087 509.801 5,353,169 5,735,344
Clev Carl Chic & St L -See New York Can tral.
154,756 128,897 1,581,704 1,584.334
;Colorado Midland.n February _
-Si Colorado Si South 4th wk Mch 293,538 274,479 11,683,407 11,251,720
21,549
165,491
24,060
Col Newb & Laur__ January __
174,740
400,578
Copper Range
January __
51,853
54,895
502,134
3,609
61,824
13,129
February _
Cornwall
97,760
15,014
188,887
30,549
Cornwar & Leb___r January __
203,659
February _ 223,089 222.086 1,288,957 1,275.212
Cuba Railroad
1 Delaware & find_ February _ 1,272,717 1,327,423 12,254,410 13.532,464
Del Lack & West _r February _ 2,219,043 2,288,919 22,055,222 22,945,532
4th wit Mch 554.600 414,700 15,501,698 15,366,552
,Denver & Rio Gr
27,510 1,135,991 1,263,046
23,801
Bet Tol & Iront Sys 3d wk Mch
20,653 1,279,804 1,426,785
42,718
3d wk Mch
Ann Arbor
37,824
861,321
32.537
897,398
Detroit & Mackinac 4th wit Mch
78,916
87,641 4.752,742 5,200,846
Dot & Iron Range_r January __
60,714 1,993,193 2.335,887
76,850
Dul Sou Shore & Atl 4th wk Mch
4,634,383
El Paso & So Westa February _ 618..294
February _ 3.748,370 3,223,264 33,542,059 34,411,224
Erie
Evansville Si Per. H -Sec Rock island S rstem.
1,890
1,309
13,203
Fairchild & North E February _
12,899
51,565
45,177
502,388
Fonda Johns & Glov February _
535,771
Georgia Railroad _ February _ 233,636 229,674 1,946,897 2,060,173
Geonna South & Fla -Nee Sout hern Rail war.
4th wit Mch 1,122,733 1,037,702 29,268,781 32,003,562
Grand Trunk Syst
Gr Trunk West 3d wk Mch 112,840 119.560 3,942,973 4,488,190
26,308
26,196 1,190,403 1,323,099
Det Gr Hay & Mil 3d wk Mch
27,462
21,350 1,295,620 1,495,997
Canada Atlantic. 3d wk Mch
Great Northern Syst March ____ 3,994,036 3,218,370 40,741,779 43,609,739
RAW & Ship Island_ February _ 156,839 151.414 1,265,337 1.505,334
February _ 351,029 348,912 4,209,621 4,396,450
,Hocking Valley
March ____ 4,961,734 1,667,455 13,583,090 15,590,081
Illinois Central
Internat Si GI Nor_. 4th wk Mch 230,000 163,000 6,226,084 5,395,602
a Interoceanic Mex_ 4th wit Mch 177,642 210,353 4,798,650 5,840,117
99,198
89,007 2,285,260 2,353.875
4th wk Mch
Iowa Central
February _ 128,262 120,505 1,476,165 1,449,306
,Kanawha Si Mich
Kansas City South_ February - 636,723 657,429 5,854,889 6,344,454
766,000
563,000
January
!K C Mem Si Orient
;Lake Erie & I,Vest'n -See New York Cen (rat.
Lake Shore & M Sou -See New York Cen tral.
February - 2,143,045 2,116,331 21,705,052 24.241,955
Lehigh Valley
33.110
February 27,653
254,931
343,787
Lexington & East
/ne.30, 273
February _
Dec.24 1,221
Long Island
75.705
785,898
703,884
Louisiana & Arkan_ February _ 101,316
70,150
67,219
687,161
Loulsv Hand Si St L February _
692,690
Louisville & Nashv. 4th wk Mch 1,260,115 1,132,141 34,562,426 34,663,731
12,050
92,713
`Macon & Birmingh_ February _
11.916
106,695
February _ 588,447 578,934 5,516,010 5,904,783
Maine Central
4,072
2,171
33.316
Manistique
February
40,203
24.360
21,514
214,931
Maryland & Penn
February _
253,617
9
•linuary __ 1,841,455 2, 91.259 18,155,397 11,407,711
a Mexi -an Central
a Mexican Internal_ 4th wk Mob 146.885 184,268 5,102,635 6,380,276
a Mexican Railway_ 3d wk Mch 135,300 153,000 5,007,000 5,931,400
23,507
28,375
915,657
a Mexican Southern 3d wk Mch
016,142
-1.110111,,an Central- See New Y ork Centr al
20,485
23,638
619,902
4th wk Mch
'Mineral Range
602,336
92,308 3,192,061 3,000,271
Minneap Si St Louis 4th wk Mch 113,814
'Minn St P & S S M. 4th wk Mch 321,351 323,260 9,520,202 9,171,202
Missouri Kan & Tex February _ 1,859,992 1,668,915 17,657,579 18,761,763
Mo Pac & Iron Mt. 4th wk Meh 1,349,00 01,246,00 033,892,24 433641.227
42,000 1,203.000 1,178,000
46,000
Central Branch... 4th wk Mch
Total system___o 4th wk Mch 1,395,000 1,283,000 35,185,244 34,819,227
29,024 1,110,157 1,087,998
27,760
tiMobile Jack & K C Wk Mch 13
Vastly Chatt Si St L February _ 923,256 831,414 7,427,432 7,486,794
Nat Rys of Mexico 4th wk Mch 1,510,20 1,317,320 17,331,560 18,686,516
8,444
12,474
283,197
'Nevada-Cal-Oregon. 4th wk Mch
257,896
Latest Gross Earnings.
ROADS.
Week or
Month.
Current
Year.
July 1 to Latest Date.
Previous
Year.
Current
Year.
Previous
Year.
4,220
4,323
50,290
Nevada Central____ February _
52.903
NY C & Mud River February _ 6,143,362 5,691,711 60,941,765 33,300,202
Lake Shore & M S February _ 2,985,516 2,847,588 27,926,884 29.061,965
Lake Erie & West February _ 328,035 305,844 3,156,384 3,276,732
Chic Ind & South February _ 230,890 220,440 2,002,595 1,961,027
Michigan Central. February _ 1,391,207 1,727,230 16,932,073 18,301,825
Cleve CC & St L_ February _ 1,884,704 1,753,740 17,515,347 17,547,891
Peoria & Eastern. February _ 210,279 210,672 1,912,730 2,029,270
48,973
735,293
631,189
74,309
.Cincinnati North. February _
'Pitts & Lako Erie February _ 783,783 645,380 7,923,107 9,093,120
186,004 168,344 1,898,032 2,027,748
!Rutland
February _
!N Y Chic & St L_ February _ 644,580 786,974 6,225,262 6,791,609
'Total all lines
February _ 15362669 14406806 1471744158 153981573
N Y Ont & Western February _ 557.812 515,485 5,489,325 5.415,698
NYNH & Hart_ _r February _ 3,826,409 3,359,707 35,533,185 36,536,010
N Y Susq & West
February _ 281,392 236,382 2,129,058 2,253,909
Norfolk & South__r February _ 198,009 152,276 1,532,417 1,414,089
Norfolk & Western_ February _ 2,167,477 1,818,320 10,178,752 20,749,361
Northern Central
February _ 783,979 785,479 7,603,669 8,664,869
Northern Pacific
February _ 4,309,819 3,944,997 15,102,385 18,945,817
Pacific Coast Co
February _ 445,096 411,910 4,213,517 5,186,624
Pennsylvania Co__r February _ 2,671,608 2,475,478 27,236,327 31,418.128
it Penn-East P Si E February _ 10314160 9,814,960 93,811,413 106049713
d West of P & E_ February _
Dec.6,24 5,400
/nc.347 ,500
Per Marquette___r February _ 1,010,563 830,568 0,333,519 9,191,152
Phila Bait Si Wash_ February _ 1,232,416 1,107,116 10,950,694 11,469,194
Pitts Cln Chic Si Stf. February _ 2,073,528 1,937,310 18,167,155 20,203,549
62,279
Raleigh Si Southp't February 12,668
7,406
88,243
Reading Company_ February _ 2,900,739 2,626,041 26,434,932 29,086,887
Coal Si Iron Co
February _ 2,497,772 2,659,581 22,803,426 26,804,081
Total both cos.__ February _ 5,404,511 5,285,623 49,238,357 55,890,965
Rich Fred Si Pot__r January __ 167,226 136,068 1,032,314 1,128,134
Rio Grande Junc
January __
64,516
51,250
528,238
516,836
4th wk Mch
Rio Grande South
18,500
14,015
444,288
464.568
Rock Island System February _ 4,574,736 4.268,011 41,268,075 41,04.5,892
Fran February _ 3,731,361 3,487,061 32,501,477 33,389,957
e St L & San
Evansv Si Ter H February _ 149,255 157,474 1,443,017 1,540,470
Total of all lines_ February _ 8,455,853 7,910,546 75,212,568 75,976,319
St Jos Si Grand 151_ February _ 122,029 108,051 1,109,332 1,105,003
St Louis Southwest_ 4th wit Mch 254,078 224,207 8,037,384 7,565,536
San Ped LA Si S L_r February _ 555,331 491,564 4,637.357 5,166,195
Seaboard Air Line_ February _ 1,464,539 1,289,293 10,875,180 10,564,335
60.753
76,826
Atlanta Si Birin_ January __
556,109
552,537
13,001
13,805
Florida West Sh_ January __
73,703
65.710
February _
82,118 140,076
Southern Indiana
781,951 1,153,789
c Southern Pac Co_ February _ 8,560,998 8,474,744 80,144,758 86,191,523
Southern Railway _ 4th wk Mch 1,496,113 1,284,154 39,759,624 -10,450,963
Mobile Si Ohio.._ 4th wit Mch 324,894 312,114 7,335,984 7,548,348
Gin N 0 Si Tex P_ 3d wit Mob 144,990 132,012 5,583,229 5,882.789
54,149 2,584,407 2,689,339
57,509
Ala Great South_ 3d wk Mch
36,071 1,436,150 1,500,014
42,456
Georgia Sou & FLa 3d wk Mch
915,18
16,783
3d wk Mob
20,546
Texas Central
858,262
4t wk Mob 337,922 307,886 11,375,300 11.692,203
Texas Si Pacific
6,174
47,743
5,597
Tidewater Si West_r February _
62,119
Toledo Si Ohio Cent February - 233,376 281,754 2,909.005 3,078.739
36,753
837,073
29,804
9156,083
Toledo Peor Si West 4th wk Mch
75,255 2,563,324 3,039.448
70.904
Toledo St L Si West 4th wk Mob
53,561,
4,000
40,030
8,133
February Tombigbee Valley
lia io ma
v nnd
Union PacificFebruary _ 4,931,304 4,540,115 52,968,128 52.749,332
acifie Syst_ Febary
February - 643,1336 648,810 5,905,056 6,503,653
66,087
815,443748,128
77,071
Virginia SiSou West February _
Wabash
4th wk SIch 708,837 626,098 19,398.705 19,926,348
Western Maryland.r -January _- 471,300 417,114 3,56.5.563 :1,617,284
4,002,060
v
\heel ng ezte I.___r February - 302,444 277,344 3,661,36
West i ser
Scash
;
382,208 311,019 3,766,195 3,995,019
February _
792
1,325
White Riv(Vt)2wks end Mch 27
Wisconsin Central _ 4th wk Mch 197,000 181,000 5,593,650 5,6715,454
186,248
25,684
198,422
21,102
Wrightsville & Tenn February .
3
Yazoo Si Miss Vail_ March ---- 830,561 911,995 7,921 355 8,044,730
1_
Period.
Various Fiscal Years.
13 Olefonte Central
,
Jan
1 Delaware Si Hudson
Jan
Mantstlque
Jan
Mexican Railway
Jan
Mexican Southern
Jan
New York Central Si Hud River Jan
Lake Shore Si Mich Southern_ Jan
Lake Erie Si Western
Jan
Chicago Indiana Si Southern. Jan
Jan
Michigan Central
Jan
Cleve Cin Chic Si St Louis
Jan
Peoria & Eastern
Jan
Cincinnati Northern
Jan
Pittsburgh & Lake Erie
Jan
Rutland
New York Chicago Si St Louis Jan
Jan
Total all lines
Jan
Northern Central
Jan
d Penn-East of Pitts Si Erie
d West of Pittsburgh Si Erie_ Jan
Phlla Baltimore Si Washington_ Jan
fan
Pitts Cln Chicago Si St Louis
Dec
1410 Grande Junction
Jan
Texas Si Pacific
Jan
West Jersey Si Seashore
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
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
Feb
Feb
Feb
IMch
Mch
Feb
Feb
Feb
Feb
Feb
Feb
Fob
Feb
Feb
Feb
Feb
Feb
Feb
Feb
Feb
Feb
Feb
Jan
.
5ich
Fen
Curren'
Year.
Previous
Year.
28
$10,154
$9,472
23 2,043,834 2,780,670
28
7,270
7.397
21 1,567,600 1,869,800
21
307,316
285,290
28 12,755.005 11,871,038
23 6,302,241 5,698,028
28
662,263
642,332
28
406,493
456,045
28 3,798,868 3,588,698
28 3,909,069 3,539,859
28
410,041
460,844
28
151,448
105,794
28 1,621,012 1,230,764
28
381,839
358,159
28 1,396,434 1,546,961
28 31,894,313 29,496,522
28 1,656,115 1,659,915
28 21.534,972 20,378,272
28
/ne.94 7,900
28 2.495,556 2,314,056
28 4,222,361' 3,937,507
131,634
31
133,236
31 3,455,545 3,414,278
560,654
23
595,154
AGGREGATES OF GROSS EARNINGS-Weekly and Monthly.
Weekly Sum mattes.
s
Curing Year Prev' Year Inc. or Dec.
Monthly Summaries.
Cur'n1 Year Peer's Year Inc. or Dec
3
$
8;979,089
9,258;432
-33,126,064 18.47
+279,343 3.11
'3r1 week Jan (44 roads)-_-Month June 1908 (113 roads) 146,270.130 179,397,094 -27,262,110 14,87
4th week Jan (43 roads)
+394,367 3.07
Month July 1908( 97 roads)- 156,103,383 133,365,933 - 13,228.706 12,834,339
8,496,377 +1,233,847 14.52
9,730,224
1st week Feb (43 roads)____
Month Aug 1908 (105 roads) - 179,781,772 209,090,782 --29,909,010 16 64
8,733,905
+789,165 0.04
9,523,070
)4onth Sept 1008 (114 roads)_ 210,014,059 223,964,945 --13,950.886 , 6.23
2d week Feb (44 roads)---0,183.562
+881,290 9.60
10.084,852
ad week Feb (45 roads)__
Month Oct 1903 (119 roads) _ 223,931,291 2 i0,652,757 --10,721.466 6.95
+249,691 2.28
4th week Feb (45 roads) ____ 10,890,604 10.940.295
.
Month Nov 1908 (118 roads). 205,963,343 213,913,643 --7.050.305 3 71
9,534,627
+887,701 9.31
1-st week Mch (44 roads)____ 10,422,328
Month Dec 1908 (234 roads) - 215,251,439 204,476,660 +10,774,779 527:
9,808,011
+764,138 7.79
Month Jan 1909 (712 roads) _ 181,027,609 171,740,858 4-9,286,841 5.41
'2d week Mch (45 roads) _,... 10,570,149
9,805,930
+758,577 7.61
3d week Mch (43 roads).
10,562,507
Month Feb 1909 ( 53 roads)_ 49,515,764 45,382,253 4-4,133,506 9.02
54th'week Mch (38 roads) ___ 15,296.032 13,555,162 + 1,740,870 12.84
Month Mch 1909( 48 roads) _ 51,321,507 46,239.241 +5,082,356 10.99
,
,
a Mexican currency. o Include earning at Gulf Si Chicago Divls on. c includes the Houston Si Texas Central and its subsidiary lines in bora
.. a Covers lines dlrectIr operated. e Includes the Chicago Si Eastern Illinois In both years. 1 includes Evansville Si Indiana RR. h Includes
Ings of Cot. Si South., It. worth Si Deaver city and all affiliated lines, exceptlmt'rrInIty Si Brazos Valley RR. k Includes in both years earnings
Denver Enid Si Gulf RR.. Pecos Valley System and Santa Fe Prescott &Phoenix By. i These figures do not include receipts from sale of coal
Figures here are on the old basis of accounting-not the new or Inter-State Commerce Commission method. r These figures are on the now bads
res=lbzd by the Inter-State Commerce Commission.
rrs
APR. 10 1909.1
THE CHRONICLE
-In the table which
Latest Gross Earnings by Weeks.
follows we sum up separately the earnings for the fourth
week of March. The table covers 38 roads and shows 12.84%
increase in the aggregate over the same week last year.
937
-Gross Earnings-- -Net Earnings
Previous
Current
Current
Previous
Year.
Year.
Year.
Roads.
4
$
4
N Y Cent & Bud Riv-(Con)Year.N
Feb
Y Ch & St Lb
644,580
110,575
157,380
786,974
Jan 1 to Feb_.28
1.396334 1,596.961
283,494
284.010
Feb15,362,669 14,406,896 3,759,192 3.150,891
Increase. Decrease. it,Total;a11 lines_ b
1909.
Fourth Week of March.
1908.
flbrd,Jan 1 to Feb 28
31,894,313 29,496,522 8,159375 6,370,835
$
4
4
z Northern Pacific_ b_ _ Feb 4,309,819 3,994,997 1,596,956 1,460,993
25,057
Atlanta Birmingham & Atlantic
63,346
38,289
July 1 to Feb 28
46,102,385 48,945,817 21,129,776 21,328,149
19,920
Buffalo Rochester & Pittsburgh
234.130
214,210
Feb
445,096
Pacific Coast
40,603
411,910
27,862
63,700
Canadian Northern
280,200
216,500
July 1 to Feb 28
4,213,547 5,186,624
819,911
579,722
Canadian Pacific
2,164,000 1,804,000 360,000
Feb 1,010.563
z Pere Marquette_ b
29,400
Central of Georgia
67,212,
,
317,200
830588
172721
287,800
July 1 to Feb 28
Chesapeake & Ohio
780,158
647,311 132,847
. .019 9.191.152 2,652,306 2.271,689
9 333
17,350 Raleigh & Charleston_a_Feb
Chicago & Alton
281,057
263,707
7,814
7,576
1,579
21,984
Chicago Great Western
229,254
207,270
52,261
July 1 to Feb 28
46,736
3
13,944
2 604
8, 78
15,746
Chicago Ind & Louisville
134,475
150,221
32.603
39.387
Rio Grande South_ b_ _ __Feb
2,392
14,293
19,109
Colorado & Southern
274,479
293,588
394,142
July 1 to Feb 28_
420,499
146,243
155,896
139,900
Denver & Rio Grande
414,700
554,600
5,237
Detroit & Mackinac
122,929
37,824
32,587
Feb
108,051
St Jos & Gr Isl-b
39,401
7,136
Duluth So Sh & Atl
1,109,332 1,105,093
76,850
69,714
July 1 to Feb 28
392,705
57, 96
4393010
Trunk of Can
Grand
54 6057
9,612
Feb 892:817
Texas Central_ b
19.050
8.5,031
Grand Trunk Western
1,122,733 1,037,702
812,843
July 1 to Feb 28
279,239
256132
8 81
Det Grand Hay & MIlw_ _ _ _
Feb 1,090,438 1,122.999
z Texas & Pacific_ b
200,188
184,953
Canada Atlantic
10,257.002 10,662,764 3,381,281 3,075,973
July 1 to Feb 28
62,000
International do Great Northern
168,000
230,000
32,711 Wabash_ b
Interoceanic of Mexico
210,353
177,642
403,448
Feb 1,885.111 1.791,437
248,965
10,191
Iowa Central
89,007
09,198
17,210,440 17,950,218 4-993311 5.136,599
July 1 to Feb 28
Louisville de Nashville
1,200,115 1,132,141 127,974
495,232
122.020
531,532
97,196
Feb
37,383 z Wisconsin Cent- b
Mexican International
184,268
146,885
4.059,105 5,084,985 1,628.820 1.629,789
July 1 to Feb 28
3,153
20,485
Mineral Range
23,638
225,634
4,448
7,617
221,102
Wrightsv & Tennille_ b_ _Feb
21,506
92,308
Minneapolis & St Louis
113,814
1,909
56,895
57,877
2186,298 .2198,422
July 1 to Feb 28
323,260
Minneapolis St Paul & S S M
321,351
Missouri Pacific & Iron Mtn
1.349,000 1,246,000 103,000
a Net earnings here given are after deducting taxes.
4,000
42,000
46,000
Central Branch
b Net earnings here given are before deducting taxes.
12,580
312,114
r For Feb. 1908 net from Coal Dep't was $54,048, against $91,108 last
324,694
Mobile & Ohio
_
1,510,202 1,317,320 192,882
year, and from Jan. 1 to Feb. 28 was $194,992 in 1909, against $180,407.
National Rys of Mexico
4,030
8,444
12,474
z These figures are on the basis of accounting required by the Inter-State
Nevada-California-Oregon
4,485
19.015
18,500
Rio Grande Southern
Commerce Commission.
29,871
224,207
254,078
z Includes $105 other income for Feb. 1909, against $56 in 1908, and for
St Louis Southwestern
1,496,113 1,284,154 211,959
period from July 1 to Feb. 28 includes $794 in 1909, against $737 last year;
Southern Railway
30,036
307,886
337,922
the earnings of the Dublin & Southwestern RR. are included in both years.
Texas & Pacific
6,949
36,753
29.804
Toledo Peoria & Western
4,351
Interest Charges and Surplus.
70,904
75,255
Toledo St Louis & Western_ _ _
82,789
626,098
708,887
Wabash
-Int.. Rentals.(tc.- -Bat. of Net E'ngs.16,000
197,000
181,000
Central
Wisconsin
Previous A
Current
Current
Previous
Year.
Year.
Year.
Year.
15,296,032 13,555,162 1,841,523 100,653
Total (38 roads)
Roads.
$
$
$
4
1,740,870
Net increase (12.89%)
Abington & Rockland Elect
•
328
1.993
224
Light do Power Co_ ___Feb
1.772
4,467
656
652
3,979
Jan
-The table fol- Cuba RR 1 to Feb 28 Feb
Net Earnings Monthly to Latest Dates.
33,760
70,304
31.959
81.195
261,119
237,881
177,430
July 1 to Feb 28
279,843
lowing shows the gross and net earnings of STEAM railroads
97,327
Feb
91,886 zdef49,667 zdef50,565
Duluth SotSh &Ati
reported this week:
767,712
July 1 to Feb 28
779,902xdef214.670xde1187,813
-- Ed Elec Co (Brockton)_ _Feb
-Gross Earnings- -NetEarnings
3,179
2,256
7,604
5,529
Previous
Current
Previous
Current
6,399
4,017
17,094
Jan 1 to Feb 28
14,218
Year.
Year.
Year.
Year.
2,468
2,421
6,337
Feb
Fall River Gas Wks
16.305
Roads.
4,622
4,910
27.379
Jan 1 to Feb 28
20,455
Abington & Rockland Elec
3,805
4,841
8,304
8,819
2,217 Houghton Co Elec Co_ _Feb
2,100
5,571
5,038
Light & Power Co_ _ _ _ Feb
7,625
8,857
20.179
18,896
.. Jan 1 to Feb 28
5,119
9,635
12,026
11,113
Feb 28
Jan 1 to
4,913
4,221
8,837
7,978
Feb
Lowell Elect Corp
20,862
Feb
172,771
9,908
Atlanta firm & Atl
19,323
17,687
8,482
,Jan 1 to Feb 28
294,845
1,356,824
July 1 to Feb 28
10,107 zdef12,596 zdef10,897
13,419
Feb
Mineral Range
97.292 zdef14,170 rdef9,149
22,358
108,417
557,586
551,958 def62,360
z Chic Great Western_b_Feb
July 1 to Feb 28
958,001 Minn Gen Elec
738,835
5,553,276 5,561,207
31.012
29,619
July 1 to Feb 28
17,649
30,529
Feb
03,909
81,059
42,692
60,751
40,884
355,778
317,370
66,144
, Jan1 to Feb 28
z Chic Ind dc Louisv_ b_ _Feb
18,716 zdf.17,392 zdf.4,409
3,482,781 3,544,320 1,011.321 1,017,258 Rio Grande Southern_ __Feb
19,846
July 1 to Feb 28
r27,348
z1,993
153,660
155,205
July 1 to Feb 28
900.298
930,257
z Chic Milw & St Paul_ b_Feb 3.931,519 3,937,988
14,287
4,715
4,166
4,763
Feb
July 1 to Feb 28
40.748,31639,411,975 14,679,243 14,334,819 Texas Central
232,596
354,209
23,836
25.030
July 1 to Feb 28
102,258
114,955
Feb
223,089
222,086
Cuba RR
income received.
415,311
z After allowing for other
540,962
1,288,957 1,275,212
July 1 to Feb 28
r461,686
r371,586
Delaware & Hudson_ b_ _Feb 1,272,717 1,327328
STREET RAILWAY AND TRACTION COMPANIES.
r951,947
r798,407
2,643,834 2,780,679
Jan 1 to Feb 28
ow
37,641
41,615
186,934
195,621
Duluth So Sh & Ati_b__Feb
Jan. 1 to latest date.
Latest Gross Earnings.
532,043
472.820
1,776,446 2,117,189
.......
July 1 to Feb 28
Name of
Previous
Current Previous Current
7,785
IVeek or
10,783
18,604
23,416
Road.
Ed Elec Co (Brockton)_ _Feb
Year.
18,235
Year.
Year. .;
Year.
Month.
23,493
40,956
49,420
28
Jan 1 to Feb
69
1,309
642
1,890
Fairchild & Nor E'n_b__Feb
$
$
$
$
clef 438
der 438
13,203
12,899
Jan 1 to Feb 28
401,944
420,493
American Rys Co_ _ _ February _ 199,094 192,605
18,773
8,758 c Aur Elgin do Chic By February - 94.335 85,552
36,301
31,325
_ _ __Feb
Fall River Gas Wks_
179.537
193,97
25,077 Binghamen St By.. February . 24,061
70,479
70,597
32,289
Jan 1 to Feb 28
21.364
50,354
43,799
345,087
369,797
Birm Ry Lt do Power February _ 177,453 167,342
Grand Trunk of Canada
13,81
12,928
6.391
6,730
155,728 BrocittondoPly St By February _
321,189
1,964,806 1,788,439
Feb
Grand Trunk By
11,337
7,556
7,556
11,337
January __
20,917,900 22,186,372 5,239,761 5,437,341 Camaguey Co
July 1 to Feb 28
38.909
18,024
34,22
15,891
Cape 13reton Mee Co_ Februaryd
30,172
48,178 Central Penn Trac_ _ February _
359,633
351,847
103.948
50,722
110,19.
Grand Trunk West__ _Feb
52,871
898,716
572,028 Charlest Con RyG&E February . 59,025 58,231
3,634,745 4,107,034
118,07'
July 1 to Feb 28
119,800
4,380
2,434 Chicago Railways Co_ March ___ 965,692 840,743 2,740,054 2,396,844
106,576
105,803
Det Gr Hay & Milw__ _ Feb
18,332
18,318
18,332
18,318
_
208,847 Cleve Painesv & East
289,392
1,145,941 1,255,831
July 1 to Feb 28
173,801
211,695
94,588 84,185
JanuaryCorp_ February,_
102,197 def19,113 def40,878 Dallas Electric Ry_ _ _ 4th wkMch 178,819 157,379 1.630,319 1.466,595
106,576
Feb
Canada Atlantic
Detroit United
656,271 Duluth Street Hy_ _ _ February _
953,206
127,394
138,558
66.353 62.387
z Great Northern- b
Feb 3.212,152 2,811,711
330,788
36,747,693 40,391,369 14,827,008 14,983,978 East St Louis & Sub_ February _ 148,833 157,722
302,37
July 1 to Feb 23
90,865
96,88
February . 45,373 43,863
12,109 El Paso Electric
13,660
21,910
24 304
Houghton Co Elec Co... _Feb
58,164
60,067
28,534 27.161
26,521 Fair & Clarksb Tr Co February _
29,031
46,982
52,225
Jan 1 to Feb 28
3,782 Ft Wayne & Wabash February . 99,235 97,455
7,919
33,110
Lexington & Ea t'n_b __Feb
27,053
200.415
208.90
Valley Traction Co
102,598
36,853
343,787
July 1 to Feb 28
254,931
155,330
173,98
Galv-Hous Elec Co_ _ February . 82,552 74.715
16,184 Grand Rapids Rys Co February _
21,917
133,472
149,04'
67,219
79,150
Loutsv Hand & St Lb _ _Feb
71,451 64,018
169,860 Havana Electric By. VVk Apr 4 37.951
509,723
222.804
527,14
38,429
July 1 to Feb 28
692,696
687,161
a *WWI
12,891 Honolulu Rapid Tran
13,058
28,906
Lowell Elan Corp
Feb
29,554
62,749 4'59,916
30,323 29.910
February _
do Land Co
27,595
27,805
Jan 1 to Feb 28
60,240
04,082
21.889 IR17,$36
45,43 -ir'36,019
_
48,661 Houghton Co Trac Co February _ 321,847 304,538
60,143
Minn Gen Elan
Feb
06,189
84,584
674,80 11632348
Illinois Traction Co_ _ February
103,751 Jacksonville Elcc Co_ February _
124,660
to Feb 28
Janill
178,518
201,829
84,238
74,72
36.793 31,378
960.439
def1,047 Kansas City fly do Lt February _ 505,813 464.118 1,040,341
859
'Feb
Mineral Range_ b
57,340
60,742
45,094
90,151 Kansas City-Western February . 23,939 21,777
48,307
92,680
July 1 to Feb 28
551,255
536,683
81,496
92,08
43,867 42,991
168,033 Knoxville Ry & Lt Co February _
247,287
Feb
776 653
680,365
Minn St P & S S M
70,878
73,59
73,591
70,878
8.578,099 8,215,789 3,852,032 3,241,848 Lake Shore Elec Ry_ January __
July 1 to Feb 28
76,970
78,768
38,265 36,290
Lax & Inter Rys Co_ _ February 666,825
Feb 3,559,885 2,944,038
739,059
Missouri Pacific
106.956
114,441
Little Rk By & El Co February . 54,537 51.276
31,294,244 31,375,227 9,155,065 8,053,306 Memphis Street By _ Ferbuary _ 118,092 112,646
July 1 to Feb 28
231,407
246,581
602,066
857,044
1,350 Milw Elan By & Lt Co February _ 315,565 293.874
4,220
269
4,323
Central_ b
FebNvad
104,016
113,215
6,865 Milw Lt Ht & Trac Co February _
55,100 49,682
50,290
14,210
Feb 28
52,903
July 1 to
869,871
908,32
036,394 Montreal Street Ry_ _ Wk Apr 3 66,549 63,709
N Y Cent do Hud Riv_b_Feb 6,143,362 5,691,711 1,241,927
138.90t,
124,878
2,042,639 Nashville By & Light January __ 138,969 124,878
12,755,005 11.871,038 2,692,561
Jan 1 to Feb 28
537.76
482.051
38.518 33.236
By
December
N J'&
935,795 North HR Tr& FyCo February _ 136,504 119,301
917,028
295,426
284.39
Lake Sh do Mich Sou. Feb 2,985,516 2,847,588
& Lt_ _
Ohio
6,302,241 5,698,028 2,144,290 1,772.245 North Texas Elec Co_ February _
145,512
171,598
82,661 71.311
Jan 1 to Feb 28
276,660
312,16
17,271 Norf & Portsm Tr Co_ February _ 154,725 131,799
328,035
305,844
51,224
Lake Erie & West_ b_ _Feb
458,516
514,854
__ 180,038 159,852
65,599 Northwestern Elev..- March
662,263
842,332
77,659
Jan 1 to Feb 28
435.676
205,100 210.591
919,683
_62,339 Oakland Traction Co_ February _
57,479
230,890
220,440
Chic Ind & South-b._Feb
33,929
49,70
February. 24.599 17,013
104,053 Oklahoma City Ry
496,493
456,045
128,810
Jan 1 to Feb 28
38,371
17,807 18.455
36,85
Paducah Tr do Lt Co_ February _
373,407 Pensacola Electric Co February _
33,534
522,885
15.378
19.081
38,86
Feb 1,891,207 1,727,230
Michigan Cent- b
673,112
779,270 Portland By L&P Co February _ 355,002 332,299
3,798,868 3,588,698 1,030,475
699,22
Jan 1 to Feb 28
30,818
33,925 30,818
33,92
308,475 Porto Rico Rys Co January __
401,834
Clay Chi Ch & St L_b_Feb 1,884,704 1,753,740
634,720 Rio de Janelro Tram
853,512
3,909,869 3,539,859
Jan 1 to Feb 28
Light & Power_ _ _ _ February. 575,902 522,315 1.155,191 1.067,420
54,906
210,672
210,279
47,243
Peoria do Eutern_ b_ _ _Feb
Si'
148,355 St Joseph (Mo) By Lt March ____
460,844
83,757
.Tan 1 to Feb 28
419,041
203,565
75,510 88,594 7 228,19
Heat & Power Co _ _
138,433
138,783
48.973
68,590 68.407
3,575 San Fr Oak & San Jo February _
9,185
74,309
Chic Northern_ b
Feb
378,420
406.85
105,794
2,399 Sao Paulo Tr Lt & P. February _ 200,405 186,689
20,251
151.948
Jan 1 to Feb 28
95,84
90,039
45,855 43.718
645,380
281,911 Savannah Electric Co February _
364,074
783,783
Pitts &'Lake Erie_ b..-Feb
, 711,818
782,50
490,490 • Seattle Electric Co__ _ February _ 379,692 347,616
1,230,764
769,891
1,621,012
Jan 1 to Feb 28
511,851
509,750
March ____ 179,245 178,081
21,438 South Side Elevated_ w.h,...,...
168,344
35,738
119. Ann
'ft Ali
186,009
11 1,113
11 FOR
Feb
ilutland_b
Ry Co
356,159
47,571 Sou Wisconsin
74,264
381,839
Jan 1 to Feb 28
THE CHRONICLE
938
Latest Gross Earnings.
Name of
Road.
Week or
Month.
Current Previous
Year.
Year.
[VoL. Lxxxviu.
Jan. 1 to latest date.
Current
Previous
Year.
Year.
-----$
$
179,928
166,918
104,438
93,861
439,309
424,839
894,185
826,813
1,545,887 1,404,663
$
$
87,948 81,141
Spring!(Ill) R & L Co February _
53,460 48,568
Tampa Electric Co_ _ February _
Toledo Rys & Light_ February _ 214,092 207,878
Toronto Railway_ _ _ _ Wk Apr 3 69,015 62,312
Twin City Rap Tran_ 4th wk Mch 171,643 154.762
Underground El By
of London
Three tube lines__ _ Wk Mch 27 £13,200 £11,710 £157,930 £139,505
Metropolitan Dist _ Wk Mch 27 £10,014
£8,918 £117,380 £107,428
United Tramways_ Wk Ifch27
£5,185 £5,386
£59,195
£63,424
United RRs of San Fr January __ 566,373 409,770
499,77Q
566,373
United Rys of St L_ _ February _ 808,160 775,454 1,637,196 1,602,852
Whatcom Co By & Lt February _
30,745 27,569
60,107
64,093
ANNUAL REPORTS.
Delaware & Hudson Company.
(Report for Fiscal Year ending Dec. 311908.)
President L. F. Loree says in substance:
-The consolidated balance sheet shows an increase of capital
Financial.
liabilities of $10,488,541, the principal changes being shown below.
-On May 12 1908 the stockholders authorized the execuFunded Debt.
tion of a "first and refunding mortgage" to secure an issue of $50,000,000 of
gold bonds. Application was duly made to the Public Service Commission
of the Second District of the State of New York for permission to issue $20,000,000 of said bonds at once for the purpose of discharging the company's
outstanding obligations maturing during the year 1908, and for construction work then in progress, or its general corporate purposes. The comc These figures are for consolidated company.
mission authorized the issue of $13,539,000 of the said bonds; of these
bonds aggregating 313,309,000 were issued and sold during the year. As
86,461,000 of the said *20,000,000
Street Railway Net Earnings.
-The following table gives to the remaininghanded down an order dated Dec. 7of bonds, the commis1908 refusing to conDec. 17
sion
the returns of STREET railway gross and net earnings sent on such issue. In this decision three of the commissioners concurred,
to
decision and another in part.
reported this week. A full detailed statement, including all one commissioner dissenting wholly from the this
The company has taken proceedings to
roads from which monhtly returns can be obtained, is given Supreme Court. (V. 86, p. 981, 1589; have p.decision reviewed by the
V. 87,
96, 480, 1419, 1604.)
once a month in these columns, and the latest statement of
-The floating debt of the company on Dec. 31 1907
Floating Debt.
amounted to $10,754,950. This was increased during the year to 821,this kind will be. found in the issue of April 3 1909. The
143,550 by the payment of the $6,000,000 collateral trust notes of the
next will appear in the issue of May 1 1909.
Quebec Montreal & Southern By. Co. due Feb. 6 1908; by final payments on
account of the purchase of coal lands in Schuylkill County, Pa., and by
-Gross Earnings- -Net Earnings
expenditures for railroad construction.
Previous
Current
Current
Previous
In July 1908 the Delaware & Hudson Co. sold $13,309.000 of "first and
Year.
Year.
Year.
Year.
refunding mortgage" gold bonds at 95 and interest, thus realizing on account
Roads.
$
$
$
$
was used to reduce
of the principal of said bonds 812,643,550, whichoutstanding on Dec.the
31
Baton Rouge Elect Co_ _Feb
6,881
2.016
6,989
1,806 outstanding temporary loans, leaving a balance
$8,500,000. The discount on these bonds' has been charged to
6,341
1,489
Brockton & Plymouth....Feb
6,730
def74 1908 of
.111
12,928
Jan 1 to Feb 28
2,500
13,816
de1815 general profit and loss.
dated Juno 1
In accordance with the equipment trust indentureof this amount 1907.
18,024
Cape Breton Elect Co_ _ _Feb
4,332
15,891
6,198
$637,to the trustees on July 11908, and
38,909
34,223
10,573
Jan 1 to Feb 28
14,369 $650,000 was paid in the purchase of thirty new consolidation locomotives.
147 was expended
84,185
94,588
Dallas Elect Corp
36,635
Feb
27,259 The car trust certificates of 1899 show a reduction of 8150,000, the bonds
173,801
211,695
73,088
Jan 1 to Feb. 28
54,308 maturing May 15 1908 having been retired under sinking fund provisions.
43,863
45,373
The amount of debentures of 1900 shows a reduction of $200,000, the
17,509
Feb
El:Paso Elect Co
14,181
90.665
96,885
38,739
29,097 bonds maturing Jan. 1 1908 having been retired. 1902 show reductions
Jan 1 to Feb 28
The Hudson Coal Co. debenture bonds of 1901 and
27,161
28,534
16,979
15,858
Fairmont & Clarkburg.b.Feb
respectively, or $225,000 in all, these amounts
60,067
58,164
35,322
33,756 of $100,000 and $125,000,the year under the provisions of their issue.
Jan 1 to Feb 28
having been retired during
99,235
97,455
40,945
Ft Wayne & Wabash Val.Feb
40,775
-By virtue of mergers, there has been added to the physical
Mergers.
200,475
86,346
208,909
86.298 property of your company 170.71 miles of road, valued at $9,589,100
Jai 1 to Feb 28
May 23
74,715
82,552
Feb
29,164
26,462 (the investment assets being decreased accordingly), namely: On Cherry
Gal-Roust Elect Co
155,330
173,987
61,600
55,990 1908 the New York & Canada RR. Co. and on July 17 1008 the
Jan 1 to Feb 28
Sharon h Albany RR.
29,910
30,323
14,277
Honolulu Rap Tr & L Co.Feb
13,160 Valley
-On Dec. 30 1908 a dividend for the year 1900 upon the outDividends.
59,916
62,749
28,214
Jan 1 to Feb 28
25,342 standing 842,400,000 of capital stock was declared out of the earnings for
21,869
17,336
6,523
Houghton Co Tract Co.. _Feb
4,300 the preceding years at the rate of 9%, in quarterly installments of 2 Yi%
36,014
45,430
14,347
Jan 1 to Feb 28
10,350 each, in March, June, September and December 1909.
Additions and Betterments.- t the end of the year 1007 there were
31,378
36.793
13,718
Jacksonville Elect Co_ _ _Feb
10,614
tracks between Green Ridge
64,238
29,432
74,729
Jan 1 to Feb 28
22,644 approaching completion the third and fourth Schenectady and Delanson.
and Carbondale; the second track between
464,118
505,813
222,180
Kan City By & Lt_b___Feb
212,729 and the second track between Watervliet and Waterford Junction, all of
4,849.120 4,639.177 2,098,570 2,247,542 which work was completed and the tracks put in operation early in 1908.
June 1 to Feb 28
71,311
34,570
82,661
Northern Texas Elect Co Feb
On account of the installation of a heavier type of locomotive, it became
27,083
145,512
68,964
171,598
Jan 1 to Feb 28
57,929 necessary to strengthen various bridges on the Susquehanna and Pennhas been appropriated for this work, of which
18,455
6,739
17,807
Paducah Tr & Lt Co_ __ _Feb
6,240 sylvania divisions-$186,843during the year.
38,371
13,534
36,855
Jan 1 to Feb 28
13,453 sum $89,978 was expended
The extension of the Quebec Montreal & Southern By.from Pierreville to
15,378
8,959
19,081
Feb
Pensacola Elect Co
1,448 St. Philomene has been completed, with the exception of the bridge at
33,534
17,150
38,865
Jan 1 to Feb 28
7,395 Nicoiet. It is expected that the new line whi be in operation about May 1.
43,718
The Salem branch of the Greenwich & Johnsonville Railway Co., connect17,621
45,855
7,210
Feb
Savannah Elect Co
of the Delaware & Hudson Co.
90,039
35,351
95.841
Jan 1 to Feb 28
15,845 ing the Rutland ec Washington branch Johnsonville, has been
completed
with the main line of the Greenwich &
347,616
149,653
379,692
127,369 and put into operation. This branch consists of 10.20 miles of track.
Feb
Seattle Elect Co
711,818
302,170
782,502
251,677 built at a cost of $387,885, the funds necessary to construct same being temJan 1 to Feb 28
35,146
66,594
75,510
31,066 porarily advanced by your company.
St Jos (Mo) Ry LtH&P _Mch
107,329
203,565
228,195
94,053
During the year the Itlechanicville steam power plant was completed
Jan 1 to Mch 31
prevailed
23,622
48,568
53,460
17,923 and began operations. The severe drought that has of electricduring the
Feb
Tampa Elect Co
power by
fall and winter has greatly retarded the production
93,861
44,635
104,438
33,382
Mr, Jan 1 to Feb 28
means of water courses, and has at the same time fully demonstrated the
207,878
96,203
214,092
91,576 wisdom of construction of this plant. This drought prevailed practically
Toledo Rys & Lt Co_ b.._Feb
424,839
191,360
439,309
183,449 all summer, affecting the operations of the water power companies, making
Jan 1 to Feb 28
necessary the operation of the new Mechanicvlile steam plant for the mainUnderground Elect Rys of London
£49,688
127,481
£21,166 tenance of the service on your electric railways, the surplus power being
Three Tube Lines____Feb £ 55,975
£104,181
£60,475
1116,935
£45,838 sold to the water power companies.
Jan 1 to Feb 28
A new high-power line connecting this power plant with the sub-stations
£39,868
£20,426
£14,632
Metropolitan District....Feb £43,413
Albany will be built during
£82,312
£89,645
£41,253
£29,729 at Lansingburg, 25th St. Watervliet, and North
SW Jan 1 to Feb 28_ _
the year 1909 by the United Traction Co.
27,569
30,745
11,510
11,568
Whatcom Co By & Lt_ _Feb
Coal Department.
-The collieries and washeries of the company were.
60,107
64,093
25,109
27,244 operated to their full capacity throughout the year, producing 6,526,871
Jan 1 to Feb 28
tons of anthracite coal out of a total of 64,665,014 produced in the region.
a'Net earnings here given are after deducting taxes.
At the close of the year there were in the several storage plants 353,782 tons.
b Net earnings here given are before deducting taves.
The coal department expenses include construction and betterments
amounting to $650,283. Taxes of the coal department for the year show
Interest Charges and Surplus.
increase of $76,578
_Int., Rentals, ct.c.- -Hal. of Net E'ngs.- anRailroad Department. 28.
-Owing to the general depression in business which
Current
Previous
Current
Previous
existed throughout the country, the earnings from passenger service and
Year.
Year.
Year.
Year.
from merchandise showed a material reduction. The earnings from coal
$
;
$
Roads.
$
freight traffic showed a slight increase, due to the placing by the company
288
826
1,728
980 of an increased tonnage of its coal in markets securing to its railroad lines
Baton'fRouge Elect'Co_ _Feb
2,088
2,324 • def599
_Feb
Brockton ec Plymouth_
def2,398 a longer haul. Taxes of the railroad for 1908 show an increase of $60,163.
4,243
4,672
-The earnings of the electric lines fell off
Electric Railway Earnings.
def1,743
de15,487
tjan 1 to Feb 28
of business. They were particularly afthrough
4,954
4,926
de1622
Cape Breton Elect Co_ __Feb
1,271 fected bythe general depression
reason of the closing down for several months of the plants of the
10,798
10,706
def225
3,663 International
Jan 1 to Feb 28
Paper Co.. General Electric Co and the American Locomo28,772
29,516
Feb
7,863
def2,257 tive Co. There was a decrease in net earnings of the United Traction Co.
Dallas Elect Corp
57,611
59,146
15,477
def4,838 of $29,701 of the Hudson Valley By. of 874,367: of the Troy & New England
Jan 1 to Feb 28
(Including Electric Express Co.)
7,912
'7,148
Feb
9,597
El/Paso Elect Co
7,033 By. of $905, and of the Schenectady By. Traction Co. Increased $1,479.
15,815
14,351
22,924
Jan 1 to Feb 28
14,740 of 855,197. Net earnings of the Plattsburgh
A dividend of 4% was declared on the capital stock of tile United Trac12,306
11,500
4,673
Clarksburg_ _Feb
Fairmont'h
4,358
Co. for the year 1908. No dividends were declared by the other Co.
24,635
10,687
23,001
10,755 tion
leTNs-Jan 1 to Feb 28
Litigation.
-Early last year an amicable arrangement was made between
21,561
20.414
7,603
6,048 the United States Attorney-General and the anthracite coal carrier corporaGlavest-Houst Elect Co_Feb
18,006
43,594
40,906
15,084 tions to test the constitutionality of the so-called Commodity Clause of the
Jan 1 to Feb 28
corporations from transx8,720
6,073
6,134
x7,034 Hepburn Act, which attempted to forbid railroad
Honolulu Rap Tr & L_ _Feb
, mined, produced or
x17,105
•,6,t12,266
12,268
x14,261 porting in Inter-State commerce any commodity any interest, directowned
Jan 1 to Feb 28
or inby such carrier corporation, or in which it had
1,227
5,296
4,766
def466 direct. In September last the statute in question was declared invalid
Houghton Co Tract Co_ _Feb
3,754
9,597
10,593
753 by the United States Orcult Court for the Eastern District of Pennsylvania.
Jan! to Feb 28
4,336
8,903
9,382
1,711 From this decision an appeal was taken by the Attorney-General to the
Jacksonville Elect Co_ _ _Feb
10,650
18,782 . 17,794
4,850 United States Supreme Court, which appeal has been argued and is still
Jan 1 to Feb 28
71,720
151,050
61,679 under advisement by the Court.
150,460
Kansas City By & Lt___Feb
In May and June 1908 several parties claiming to be owners of debenture
707,968
1,390,602 1,379,072
868,470
June 1 to Feb 28
bonds of the company brought vexatious suits against the company,seek17,381
14,435
12,648 ing to enjoin the payment of its June dividend. The same parties also
Northern Texa 'Elect Co_Feb
17,189
34,591
28,508
Jan 1 to Feb 28
29,421 attempted to present the matter of the payment of this dividend to ;the
34,373
def295
7,032
Paducah Tract & Lt Co_Feb
7,034
de1792 Grand Jury of this city, under claims that such dividend was not declared
def543
14,051
Jan 1 to Feb 28
14,077
def598 out of profits. The company promptly met all these attacks, and in each
same.
4,591
4,134
Pensacola Elect Co
4,366
def2,686 instance defeated the of the company for 1007 stated that certain
Feb
steel:hold:
The annual report
8,380
8,300
:47.1..tkJan 1 to Feb 28
8,770
def905 ors of the Albany & Susquehanna RR. Co. had obtained a judgment against
17,061
208
Savannah Elect Co
17,413
def9,851 this company for $1,070,923. from which the company has taken an appeal.
Feb
Jan 1 to Feb 28
429 def18,331 Upon the argument of this appeal before the United States Circuit Court:of
34,176
34,922
53,142
84,803
Seattle Elect Co
96,511
Feb
42,566 Appeals, that Court announced that there was a preliminary question af107,421
166,912
Jan 1 to Feb 28
194,749
84,765 fecting to some extent the jurisdiction of the Court, and that it had therecertified that question to the United States Supreme Court. It is ex2,104
18,980
Tampa Elect Co
4,642
Feb
15,819 fore
pected that the decision of the United States Supreme Court upon this ques4,219
35,485
Jan 1 to Feb 28
L
9.150
29,163 tion will be made at an early date. (V. 86. p. 284.)
68,449
x25,383
Toledo Rys & Lt Co- _Feb
70,910
x23,947
For many years disputed questions had been in litigation under leases
137,054
x49,627
Jan 1 to Feb 28
141,924
x47,993 made by this company of what is known as the Genet coal properties, near
Scranton. All these questions have been set at rest by tile acquisition of
7 .623
2,721
By & LL_Feb
8,789
Whatcom Co
3,945
of
15,920
7,500
17,609
11,324 the fee tb such property upon terms we considered to its advantage. corn.
Jan 1 to Feb 28
s are 11 litigation in respect to the co: tract under which the
Que
x:After;allowing for other income received.
pally is operating the Tic n.ler.ga Railroad. about 1.41 miles in length.
APR. 10 1909.1
OPERATIONS AND FISCAL RESULTS.
1906.1
1907.
1908.
Equipment409
462
484
Locomotives
432
480
477
Passenger cars
13,970
21,648
21,438
Freight cars
595
811
860
Company cars
VI '
Operations7,284,946
7,415,580
6,678,027
Passengers carried earning revenue
131,353,357
No. of passengers carried one mile_ _ _127,023,498 137,645,066
2.142 cts.
2.14 cts.
2.12 cts.
Av. receipts per passenger per mile
$0.95568
$0.97144
Passenger earnings per train mile_ _ _
18,236,646
Tons freight carried earning revenue_ 17,609,710 20,633,726 2150157174
2134744299 2511071042
Tons freight bulled one mile
0.633 cts.
0.660 cts.
0.710 cts.
Average receipts per ton per mile_ _
$2.837
Freight earnings per train mile
459.90
452.21
397.69
in train_ _ _ _
Average No. tons freight
5,401,389
6,623,508
6,526,871
Anthracite coal produced
8,690,356
9,165,689 10,025,312
Anthracite cbal carried
1,657,871
2,270,328
1,824,323
Bituminous coal carried
Inc. or Dec.
1907.
1908.
$
Earnings from+25,156
9,081,664
9,106,820
Coal freight traffic
7,553,810 --1,391,629
6,162,181
Merchandise freight traffic
44
1
2,M:in -251,071
2,693,672
Passenger traffic
189,656
Express traffic
+294
132,022
132,316
Transportation of malls
--38,315
254,401
216,086
Miscellaneous sources
18,500,731 20,165,440 -1,664,700
Gross earnings
Expenses
1,879,546 -462,227
1,417,319
Maintenance of way and structures
2,356,514 -136,971
2,219,543
Maintenance of equipment
+13,180
191,669
204,849
Traffic expenses
6,900,430 -372,318
6,528,112
Conducting transportation
+75,628
366,270
441,808
General expenses .
10,811,721 11,694,429 -882,708
Total expenses
8,471,011 -782,001
7,689,010
Net earnings from operation
(+0.45
(57.99)
(58.44) :
Percentage of expenses to earnings _
ACCOUNT.
INCOME
Inc. or Dec.
1907.
1908.
$
$
Coal Department
+252,701
23,847,116 23,594,415
Gross receipts
+280,488
22,701,698 22,421,200
Gross expenses
--27,787
1,173,206
1,145,418
Net earnings
1.1
Railroad Department
18,500,731 20,165,440 --1,664,709
Gross earnings
10,811,721 11,604,429 --882,708
expenses
Oper.
8,471,011 . -782,001
7,689,010
Net earnings from operation
Other Income
+183,446
91,600
275,047
Hire of • equipment
-5,122
3,705
dr1,417
Outside operations
1,117,672 -314,073
803,599
and interest on securities owned
Divs.
+196,273
178,890
375,165
discount__ _ _._ _ _
General interest and
120,150
172,434 52,283
Miscellaneous items
1,564,301
1,504,675
Total other income
10,339,104 11,208,518
Gross income
from Income
Deductions
2,353,528
1,897,628
Rentals
568,589
705,531
Taxes
243,908
mtge. bonds (1008).
Int. on 1st & ref.
350,000
550,000
Int. on 1st mtge. bonds (1877)
559,540
559,080
Int. on D. ec H. debenture bds.(1906)
258,750
450,000
Int. on 1st lien equip. bonds (1907)..
13,125
7,875
Interest on ear trust bonds:1899)_52,000
44,000
equip. debenture bonds(1900)
Int. on
75,000
75,000
Interest on divisional bonds
707,300
485,352
General interest and discount
26,460
44,434
Miscellaneous items
5,081,646
Total deductions
Net income carried to gen'l profit de loss 5,254,458
3,816,000
Dividends on stock (9%)
-59,626
869,414
-455,819
+136,749
+243,998
metal
were grain, coal, coke, lumber, pig iron, machinery, bar and sheet
and merchandise. The average rate received per ton per mile increased
low-class com1-10 of a mill, due to the carrying of a smaller percentage of same as in the
modities. The average expenses per ton per mile were the an increase of
previous year, so that the net earnings were 1 3-10 mills,
1-10 of a mill.
The gross earnings from passengers decreased $155,184, or 6.47%.
The number of passengers carried on all lines increased 18,786, or 0.58%,
while the total passenger mileage was 105,874,926. being a decrease of 5,mile
003,262, or 4.55%. The average rate received per passenger per
was 2.027 cents, a decrease of 0.044 cents, or 2.12% •
earnings were materially affected by the reduction
The passenger-train
received
in the maximum rates of passenger fares and in the compensationthe same
from the Government for carrying the United States mails. Had as in the
the mails prevailed
rates of fare and the same rates for carrying
year 1906, there would have been an approximate increase from these two
sources alone of $300,000. On the other hand, the expenses were materially increased by reason of compliance with Federal and State enactments. The result of the enforcement of laws restricting the hours of
labor of operators and trainmen, and prescribing the number of men in
train crews, as well as the various requirements of State and Inter-State
Commissions, is always in the line of increased operating cost and decreased revenue, and during the year 1908 was directly responsible for expenditures about equal to 1% of the gross earnings,
-Beyond the necessary maintenance work the expendiImprovements.
tures on the property were confined chiefly to the new second track between
Indianapolis and Farrington. A part of this work was the 13-mile section
between Knigfitsville and the East Yard, Terre Haute. Including, in addition to the old track, an entirely new double track road between Brazil
The
and Seelyville, which was finished and put in service in August. Bushremodeling of the West St. Yard, Indianapolis. a new engine house at
rod, Ind., and new track scales at Seelyville were completed during the
year. The expenditures on capital account during the year aggregated
,
$161,807, viz.: Second track between Indianapolis and Farrington
$139,498; track elevation and change of line, Indianapolis, $1,785; addiyard and side-tracks, dec., $20,523.
tional passing,
The expenditures charged to capital account since date of consolidation
Jan. 1 1905 aggregate $4,304,202.
-There was an increase of $3,000,000 in the amount of consols
Bonds.
of
outstanding, representing an issue of series "B" bonds, the proceeds
1 1908 of 51.608.which were applied to the retirement at maturity on Feb. RR. Co.. and for
Indianapolis & Vincennes
000 of the 7% bonds of the
other capital requireconstruction and equipment expenditures and for
,
ments.,,i iji-..roa
FISCAL RESULTS.
OPERATIONS AND
AnLines-Vandalia RR.
1907.
1908.
1907.
1908.
Freightx829.35
x829.35
663.60
663.60
Miles of road operated__
$4,975,061 $6,262,383 $5,539,691 $6,874,065
Freight earnings
68.38%
• 64.55%
67.42%
63.19%
P. c. of total earnings__ _
9,493,329
7,869,092
8,514,332
6,947,901
Tons carried
1
Tons carried one mile...692,631.775 897,630,322 785,155,382 996,732,67
$8,289
$6.679
$9,437
$7,497
Earns, per mile of road_
.68 cts.
.69 cts.
.69 cts.
.70 cts.
Earns, per ton per mile_
.56 cts.
.56 cts.
.56 cts.
.56 cts.
Av. cost per ton per mile
301.48
292.78
307.48
298.01
Av. train load (tons) __ _
$2.058
$2.024
$2.122
$2.098
Earn, per rev. frt. tr. m.
Passenger
$2,127,355 $2,274,152 $2,243,912 $2,399,096
Passenger earnings
3,255,161
3,273,947
2,990,493
3,005.462
Passengers carried
6 111.968,188
Passengers carried 1 mile 101,294,728 106.536,231 106,874,92
2.07 cts.
2.02 cts.
2.06 cts.
2.02 cts.
Av. cars. p. pass. p.m.
$1.216
51.167
1.$1.247
$1.198
Earn. p. pass. tr. mile
x Including Terre Haute & Peoria RR.. 165.75 miles.
-460
+191,250
-5,250
-8,000
+221,947
+17,973
+342,301
4,742,344
6,56.173 -1,211,715
3.816,000
2,650,173 -1.211,715
1,438.458
Balance. surplus for year
HUDSON COAL
CONSOLIDATED BALANCE SHEET DEC. 31 (INCLUDING IVHOSE
ALL OF
CO. AND NOR7'HERN GOAL & IRON
& H.)
STOCK IS OWNED BY D.CO.,
1907.
1908.
1907.
1908.
Liabilities
Assets
42,400,000 42,400,000
Capital stock
Coal lands
Ind..
Del. & Hud. Co_ 9,350,391 9,088,642 Bonds (see "fly. &
section).x40,961,000 34,227,000
Hudson Coal Co. 8,062,507 4,726,276
10,754,950
Nor.Coal& I.Co. 3,409,073 3,433,084 Loans payable __. 8,500,000
4,363,603 4,200,299 Interest, dividends,
Real estate
512,058
&c., accrued___ 613,784
16,518,429
Railroad consten.27,293,161
Railroad equipm't 19,961.070 19,353,573 Interest, dividends
and bonds due
9,940
9,940
equipment
Marine
and not yet col967,978
Coal dep't equipl. 1,022,411
108,034
193,601
lected
Coal handling and
111,762
112,041
298,265 Accrued taxes
plants_ 273,447
storage
400,942
805,455
Sinking fund
Stocks and bonds*23,364,061 32,203,146 Audited vouchers
Supplies on hand.. 2,920,838 3,121,967
and pay-rolls... 3,611,578 4,116,718
836,043
1,283,206
Coal on hand
220,047 Other accts. payFire insur. fund_ 249,142
906,020
919,466
able
830,910 2,387,852
Cash
and loss,
Bills & accts. reele 4,386.130 4,356,472 Profit
11,827,598 10,764,560
surplus
Advances on un474,167
501,548
mined coal
Adv. for const'n &
acq's'n new lines 8,039,450 1,675,338
521,420
623,625
Power plant
115,944,523 104,392.944
Total
115.944.523 104,392.944
Total
(TOTAL VALUE AS
* STOCKS OWNED, TOTAL PAR VALUE $23,386,005
PER BALANCE SHEET $19,/53,344).
Par Value.
Name of SecurityPar Value.
Name of Security1st pref.. $273,050
Chat. & Lake Placid fly., pref.$3,000,000 Chat. Ore & Iron Co. 2d pref _ 280,900
Co.
75,000 Chat. Ore & Iron
Chat. & Lake Placid fly., corn.
1,250,000
Rensselaer & Saratoga RR..__ 800,000 Chat. Ore & Iron Co. common 1,000,000
Albany & Susquehanna RR__ 450,000 Quebec Mont. & Sou. fly. Co- 600,000
400 Napierville Junction fly. Co-Delaware & Hudson Co
12,499,600 Cooperstown & Chad. Val. RR. 45,000
United Traction Co
179,952
100,000 Troy & New England fly. Co_
Plattsburgh Traction Co
100,000
2,050,000 Hudson Coal Co
Schenectady fly
507,103
Johnsonville fly.. 175,000 Miscellaneous stocks
Greenwich &
& Susquehanna RR.
owns $3,610,716 bonds valued at par, viz.; Albany Plattsburgh Traction
Also
1st M., $3,354,000; Troy & New England fly., $160,000;
mortgages on real estate,
• Co., $80,000; Carbondale Gas Co., $8,000; bonds and
$8,716.-V. 88, p. 158, 52.
Vandalia Railroad.
(Report for Fiscal Year ending Dec. 31 1908.)
President Joseph Wood, Pittsburgh, March 29, writes
in substance:
shows that as compared
-The general income account
General Results.
, or 14.63%,
with the preceding year there was a reduction of $1,470,516
of frelgh
in the gross earnings, duo almost entirely to the decreased volume
business which
traffic transported as a result of the general prostration ofrigid economies
year, and notwithstanding the
continued throughout the
of 31,in force in every department of service, which enabled a reduction was a
there
218,336, or 15.33%, to be made in the operating expenses,After paying
earnings from operations.
decrease of $252,180 in the net
year was
Interest, rentals, hire of equipment, &c. the net income for the income
net
$739,592, a decrease of $340,354. or 31.52%.Of Out of this outstanding
5% on the
there was paid to the stockholders a dividend
capital stock, amounting to $729,570.
the total
The total tonnage moved over all lines decreased 17.11% and decreases
large
,ton-mileage decreased 21.23%. The commodities showing
939
THE CHRONICLE
YEARS ENDING DEC. 31 FOR
GENERAL INCOME ACCOUNT FOR Y OPERATED.
ALL LINES DIRECTL
1905.
1906.
1907.
1908.
$
$
$
$
Earnings5,175,734
5,977,224
6,874,065
5,539,691
Freight
1,902,372
2,201,928
2,399.096
2,243.912
Passenger
165,010
175,140
221,389
212,694
Express
524,261
524,537
522,688
516.224
Mails
38,929
26,030
35,948
70,149
Rents, &c
8,582,670
10,053,186
8,904,850
7,806,305
1,201,854
1,380,429
256.116
3,386.634
211,604
292,500
1,413,659
1,951,177
260.364
3,867,968
196,788
257,516
1,243,119
1,673,676
231,800
3,364,130
168,297
250,868
1,033,852
1,343,657
215,780
3,160,626
170.493
225,646
6,729,137
Total
1,853,533
Net earnings
23,264
Divs. and int. received_
(a)
Rents
Total net Income.... 1,876,797
Deduct
Rental Ter. H. & Peoria 213.028
RR.,30% gross earns.
635,619
Interest on bonds
9,000
Rent track E.&T.H.RR.
140.581
yards, &c.
Rental tracks,
138,977
Hire of equip., &c
7.947,472
2,105,714
27,772
(a)
6,931.890
1,972.969
81,906
(a)
6.150,054
1,656,251
34,271
38,917
2.133.486
2,054,875
1,729,440
229,253
643,190
9.000
136,502
35,596
212,869
634,000
9,000
138,454
194,804
540,170
9,000
(a)
Total
ExpensesMaint. of way, &c
Maint. of equipt
Traffic
Transportation
General
Taxes
743,974
994,322
1,053,541
1,137,205
Total
985,466
1,060.552
1,079,945
739,592
Net income
(5)729,570 (5)729,320 (4 3.)647,009 (4)564,282
Dividends on stock
325,000
400,000
80,542
Extraor'y expend. fund_
96,184
13,543
270,083
10,022
Bal. credit prof.&loss_
paid are charged to
a Commencing Jan. 1 1906 net rentals received and
ly.
prior to that included in earnings and expenses respective
Income account;
Earnings of Terre Haute & Peoria RR.
Net Rental 30% Rents Hire of Balance.
Oper'g
Gross
Loss.
Paid. Equip't.
Year- Earns. Expen's. Earns. Gross.
$202,413
1908_5710,093 $652,739 557.354 $213,028 d$22,629 $24,110 213.879
7,706
717,493 46,682 229,253 d23.602
1907.... 764,175
149,532
1906_ 709,562 622,265 87,297 212,869 d23,960
141,845
194.804
1905._ 649,346 596,387 52,959
to expenses; since to Inc.acct.
d Rents prior to'Jan. 1 1906 were charged
SHEET DEC. 31.
D
. "VrIX- ATTritn. CO. GENERAL BALANCE
"'"'"'' .
1907.
1908.
1907.
1908.
$
$
Liabilities-$
$
Assets14,591,500 14,586,450
Capital stock
Constr'n, right of
63,066
Do constit.cos. *58,016
est__24,049,707 23,887,900
way & real
15,399,000 14,008,000
5,531,041 5,531,041 Funded debt
Equipment
768,354
Accounts payable.. 547.256
One-fifth int. in
250,439
180,231
165,535 Due other cos
200,000
Ind'plis Un.fly.
68,385
65,313
Matured bond int_
54,630
Secur. of other cos. 144,683
215,526
186,667
674,856 Accrued bond int_
on hand_ 586,981
Supplies
305,963
636,609 Miscell. liabilities_ 299,414
1,666,941
Cash
Fund for renewal
Cash for renewal of
179,011
60,047
of equipment_ __
179,081
60,047
equipment, &c..
364,660
Dividend Feb. 15_ 364,785
Cash to pay int. on
76,518 Profit dr loss, sur_ 1,097,223 1,083,864
65,313
bonds, &c
Taxes charged out
Duo by agents and
271,250
awaiting sett'm't 292,500
173,484
150,472
conductors
IA
Car trust principal
Due by Individuals
charged out in
334,246
260,344
and companies_
89,638
120,463
advance
537,685
Due on mise.accts. 546,886
3,090
Bills receivable_
33,262,415 32,254,676
Total
33,262,415 32,254,676
Total
$50 per share, convertible
*224 shares Terre Haute & Ind. RR. Co. stock, par
par value $100 each: $33,600; 122.81 shares
into 336 shares Vandalia RR, stock, stock, par $100 per share, convertible into
corn.
St. Louis Van. & T. H. RR. Co.
par $100 each, $24,416.-V. 87, p. 1012.
244.162 shares Vandalia RR. Co. stock,
940
THE CHRONICLE
Sloss-Sheffield Steel & Iron Company.
(Report for Fiscal Year ending Nov. 30 1908.)
The report of President J. C. Maben for the late fiscal
year, issued this week, will be found at length on subsequent
pages of this issue.
The usual comparative statement of earnings and balance
sheet was given in the "Chronicle" of March'13 on page 683.
It will be noted that in spite of the hard year through which
the company has passed, dividends were paid on both the
preferred and common stock and the surplus has been somewhat increased. An officer states that the company has on
hand a good amount of bills receivable which have not been
discounted and is not borrowing from any source.
-V.88, p.
683, 455.
New York City Railway.
(Report for Year ending June 30 1908.)
The Public Service Commission for the First District has
issued a preliminary abstract of the report of the New York
City Ry. Co. and its receivers for the year ending June 30
1008. The gist of the report (which should be read in connection with the information regarding the several 'properties
on pages 75 to 78 of our "Electric Railway Section") is given
as follows:
TRACK OPERATED BY NEW YORK CITY RAILWAY COMPANY
AND ITS RECEIVERS.
Length of Length all
Name of RoadRoad. Tracks.
New York City Railway
N. Y. Westchester & Conn. Trac. Co. tracks to Pelham and New Rochelle
1.570
1.570
Fort George & Eleventh Avenue RR.
Broadway & 245th St. to Lenox Ave. & 145th St
.840
1.665
Kingsbridge Ry.Kingsbridge Rd. and Amsterdam Ave. to 225th St. and
Broadway
3.368
6.714
Metropolitan Street Ry.West and Chambers St. to Grand Central Station_ _
East River and Grand St. to 13th St., North River,
and Desbrosses St
125th St. and Amsterdam Ave. to 125th St. & B'way_
130th St. and Manhattan St. to 130th St. and 12th Av.
West Broadway to Barclay to Vesey St
Chambers St. and North River to Grand St. & East Riv
Bowling Green and Broadway to 15th St. and B'way
23.487
52.478
South Ferry to Church and Vesey Sts
42d St. and Lexington Av. to 131st St. and Lex. Av.;
110th St. and Man. Ave
65th St. and Columbus Av. to 110th St. and Col. Ave.;
106th St. and Columbus Ave
Central Park North & East River RR.
10th Ave. and 59th St., E. and W., to South Ferry_ _ _ _ 9.580
20.856
Bleecker St. & Fulton Ferry RR.
11th Ave. and 23(1 St. to Fulton Ferry
14th St. and North River to 14th St. and 4th Ave_ } 4.402
8.789
Broadway & Seventh Avenue RR.
7th Av. and 59th St. to (a) B'way and Barclay St.;1
(b)B'way and Park Place: (c) B'way and Broome
7.770
19.326
St., and (d) to Lex. Av.and 27th St
Central Crosstown RR. Co.
23d St. and East River to Christopher St. and No. Riv. 1.369
2.860
Christopher & 10th St. RR.
Christopher St. and North River to 10th St. & East Riv. 2.031
4.111
42d St. & Grand St. Ferry RR. Co.
42d St. and North River to Grand St. and East River_ _ 3.239
6.787
23d St. and North River to 23d St. and 34th St. & E. Riv.1.931
4.543
Eighth Ave. RR.
159th St. and 8th Av. to Vesey and Barclay Se B'way_l
McComb's Dam Bridge to Eighth Ave
f 9.356
19.442
New York & Harlem RR. (City Line)
138th St. and Park Ave. to Park Row and Broadway__ 9.878
19.519
Second Ave. RR.
129th St. and Second Ave. to Peck Slip and Astor PL __ 13.661
30.023
xThird Ave. RR.
130th St. and Third Ave. to Park Row and B'way_ __ _1
125th St. and East River to Manhattan St. & N. Riv } 13.282
33.928
Manhattan St. and Amsterdam Ave. to Fort George.. _)
Sixth Avenue RR.
59th St. and Sixth Ave. to Vesey St. and B'way
1
147th St. and Lenox Av. to 110th St. and Lenox Ave J 6.099
12.067
Ninth Avenue RR.
Amsterdam Av.and Man'tan St. to Fulton St. & B'way 8.027
15.000
Total
119.890 260.578
New York Westchester & Conn. Traction Co.
RR. Station, Mt. Vernon, to North Pelham
42d St. Manhattanville & St. Nicholas Ave. Ry.Broadway and 45th St. to Broadway and 65th St_ _
42d St. and Lexington Ave. to Grand Central Station_ f
Westchester Electric RR. Co.
4th St., N. Pelham
Union By. Co. of New York City
138th St., N. Y. & H. RR. tracks to East End Madison
Ave. Bridge
Dry Dock B. B'way & Battery RR.
Various tracks on Canal, Sullivan, Grand,Lewis, Washington, Cortiandt, Greenwich, Essex, Clinton, 2d,
8th and 14th Sts. to 1st Ave. and Ayes. A,B and D_ _
28th & 29th Sts. Crosstown RR.
13th Ave. and 24th St. to 34th St. and East River
34th St. Crosstown Ry.Broadway and 34th St. to Lexington Ave.and 34th St_ _
Fulton St. RR.
Fulton Ferry and Fulton St. to Cortlandt St., N. River_
City of N. Y., Williamsburgh Bridge
New York City to Brooklyn
City of New York
Transverse Road to 8th Ave. and 86th St.; 5th Ave.
and 85th St
New York Central & Hudson River RR.
Canal St. via West St. and 10th Ave. to 30th St
Total
Grand total
2.312
2.312
1.111
2.222
.345
.345
.085
.170
2.584
4.960
3.366
.952
.394
Total horse car lines_
Grand total
2.880
4,183,491
19,374,084
9,409,389 29.41
21.32
50,837,061 312,990,952 174,447,779 32.97
29.88
a The First Avenue branch, from 59th St. to 125th St., was completely electrified
and operated Feb. 5 1908.
b Route withdrawn March 1 1908.
c Third Avenue revenue passengers, 19,346,818, Include 1,189,866 4-cent fares
[no doubt under transfer arrangement with Manhattan Elevated Ity.Ed.]
d On Williamsburg Bridge the 3,397,939 passengers were carried at 3 cents each.
MISCELLANEOUS INFORMATION,
N. Y. CityReceiversN Y.
Railway Co. City Ry. Co.
Number of 5-cent fares
80,039,731 228,337,261
Number of other paid fares
1,231,558
3,382,402
Number of transfers collected
43,189,563 131,258,216
Rolling Stock.
-Number of cars, all kinds, June 30 1908, 2,683; installed
during year, 308; transferred to other companies and destroyed, 1,048;
passenger cars, closed, 1,780; passenger cars, open, 714; other revenue cars.
18; service cars, 171.
INCOME STATEMENT YEARS ENDING JUNE 30.
[Receipts of Third Avenue ER. operated by separate receivers from Jan. 12 1908,
are included to make annual comparison correct.]
N. Y• C• Ry. 3d Ave. RR. -Total Year
July 1 '07
Jan 12 to
ending
eroding
to June 30'08. June 30'08. June 30'08. June 30'07.
Earnings
$
$
Pass. rev.(Incl. chartered cars)- - 15,569,428
069,734 16,539,163 17,214,751
36,000
1,181
Freight and other car earnings_
37,181
49,925
224,250
Advertising
12,625
236,875
197,000
14,909
Rent of track
14,899
16,240
16,134
61,506
Rent of equipment
77,640
29,439
12,410
4,976
Sale of power
17,395
13,716
37
Miscellaneous
37
Street railway oper. revenue_
Expenses
Maint. of way and stricturesMaint. of equipment
Renewals of horses, harness, &c..
Operation of power plant
Provender and stable expenses_
Operation of cars
Damages (incl. legal expenses).General expenses
15,873,130
3,133,901
Total net Income
Deductions-Interest on funded debt
84,094
Ohter interest
Int. on funded debt of companies
operated under agreement_ _- /112,916
Claims against companies in
383,197
hands of receivers
12,164,666
(Interest
/2,456,103
Rentals (Dividends
113,211
[Corporate expense
Additions, &e., charged to income
.654
1.308
3.098
14.693
26.067
y134.583 y286.645
1,385,079
2,588,969
102,434
647,050
387,235
4,916,623
1,404,546
045,671
877,731
1,384,300
124,130
xa648,430
364,899
4,497,155
1,610,577
674,659
639,010 12,497,607
/41,247
1,478,127
369,803 2,947,456
13,141
569,389
10,181,881
c1,003,599
6,335,591
938,038
382,944
3,516,845
7,273,629
g117,607
1,476
2117,607
86,470
47,107
94,358
112,917
3145,000
69,475
383,197
2,164,667
2,456,103
13,210
69,475
4,472,097
5,819,136
26,132
Total deductions
Deficit for period
Previous deficit
5,215,087
188,558
2,081,186 sur.194,386
10,392,435
5,403,646
1,886,801
10,603,830
3,330,201
6,923,961
Total deficit
Net charges to deficit
12,473,621
1603,668
13,077,289
1.926
1,050,060 16,923,190 17,521,071
1,284,367
100,711
2,275,049
313,920
192,435
0775,790 xc cr128,740
387,235
4,670,252
276,371
1,379,350
25,197
894,119
51,551
Total street ry. oper. exp-- 11,858,597
1,436,880
Taxes accrued
2,577,653
Operating income
556,248
Non-operating income
1.051
1.440
x The property of the Third Avenue 11,R. Co. has been operated by a
separate receiver since Jan. 11 1908; that of the Kingsbrldge Ry.
since
March 1 1908. Operation of the Fulton St. RR. was abandoned June 1 '08.
data furnished above have been obtained from the records of the
V The
corporation. Ownership of several of the tracks included in the foregoing
Is in dispute and cannot be determined at the time of the filing of this report.
STATEMENT OF PASSENGER TRAFFIC FOR YEAR ENDED JUNE 30 1908.
Aver. Pass. Rec'ts
-per Car Mile.
Car Miles.
Revenue
Transfer July1 to Sep.25'07RouteNumber.
Passengers. Passengers•Sep.24'07•J'ne30'08.
Electric:
C. m.
a. m.
a Second Avenue
3,688,775 22,001,757
12,980,743 33.69
28.57
Third Av.(to Jan. 12'08) 6,348,152 c19,346,818
7,873,272 32.74
30.92
Lexington Avenue
4,793,996 28,636,766
12,277,133 31.17
29.48
4th Ave. dr W'msb'g B'ge 217,235
896,090
272,529 22.12
20.20
Williamsburg Bridge_ _ _ _ 211,384
d3,397,939
45.81
48.92
Fourth Avenue
5,367,141
28,996,627
15,101,698 26.92
27.04
b 4th Av., Grand Central
and 23d Street
158,215
1,263,511
432,905 41.57
38.99
B'way & Amsterdam Av.
(from Feb. 17 1908)...... 862,851
4,508,695
1,512,072
26.13
B'way & Columbus Ave_ 4,849,011
38,837,749
12,330,305 47.61
37.73
6th & Amsterdam Ayes 4,494,901
27,263,692 14,965,713 28.39
30.75
Seventh Avenue
453,102
2,029,419
846,796 2u98
22.57
Canal Street
96,213
98,556
113,607 7!!)1)
1
4.57
4,686,279 27,973,348 14,692,546 32.87
Eighth Avenue
28.96
Ninth Avenue
1,345,091
6,768,165
4,836,389 28.03
24.28
Kingsbridge (to March 1
383,047
1908)
938,278
424,542 14.80
10.63
145th Street
113,800
' 619,159
355,340 24.77
27.74
125th St.(to Jan. 12 '08) 483,394
3,382,721
1,729,290 36.37
33.90
824,003
116th Street
5,393,888
5,902,637 32.46
32.81
899,830
86th Street
5,349,867
6,115,521 28.03
30.23
59th Street
1,084,171
7,026,922 13,152,947 28.83
33.39
34th Street
1,392,156
10,599,233
11,452,475 40.35
37.37
23d Street
2,148,884
18,295,891
11,437,247 46.47
41.40
2,583,622
14th Street
15,931,402
8,377,625 32.61
30.35
Christopher & E.23d St_ 636,502
3,612,927
2,224,223 31.13
27.53
Eighth Street
1,563,734
9,786,875
5,409,510 33.44
30.66
53d St.(to Meh. 1 1908)_
11,947
6,430
7,183 2.86
2.60
Ave. A (to Mch. 1 1908). 139,838
235,689
98,610 8.98
8.11
Mt. Vernon
418,454
153,838
55,673 14.70
13.26
Total electric lines.. __ _46,653,570 293,616,868 164,978,390 33.26
30.67
Horse:
Sixth Avenue
267,086
121,964
143,428 12.36
10.56
East Belt & First Avenue 896,276
3,087,010
1,088,440 22.12
15.59
West. Belt
1,503,942 39.77
858,709
4,496,580
22.60
17th & 18th Streets
83,443
53,022 7.38
46,766
6.45
Bleecker Street
18,523
851
5,071
1.83
1.29
Av. C (Prince and Houston streets)
724,005
3,063,859
1,971,101 25.17
19.97
Met. Crosstown (Spring
and Delancey)
415,416
2,434,667
1,571,219 36.82
27.31
Chambers Street
446,708
2,572,022
1,488,153 36.87
26.50
Fulton St.(to June 2 '08)
86,885
22.53
443,864
180,333 35.11
28th S: 29th Streets
568,149
2,939,582
24.89
1,488,801 29.31
6.769
.476
[VOL. Lxxxvin.
10,254,162
138,273
Deficit
10,392,435
x Includes net credits in account "Hired Power" amounting to: a $557,050;
b $281,879; c $343,845.
e Special franchise taxes in litigation not Included.
f No provision has been made for special franchise tax.
g Interest on funded debt other than on $5,000,000 has not been paid or accrued
(in 1907 this item was included in "rentals").
h Consists of interest on bonds of 34th St. Railway Co., $50,000; Fulton Street
RR.Co., $20,000; 28th & 20th Streets Crosstown RR. Co., $75,000; total, $145,000.
I Rents or interest accrued for lease or operating agreement of roads on which
permanent default has not been made.
:Charges to deficit include: Debits-Renewals of horses, $50,831; undistributed
accounts, $203,108; reserve for injuries and damages, $269,483; lose of supplies by
fire not fully insured, $19,008; miscellaneous, $19,247; total,$651,677; less credits.
$48,009; leaving a balance of $603,688
THE CHRONICLE
APR. 1.0 1909.1
BALANCE SHEET.
Company's Company's
Statement
Statement
AssetsJune 30'07. Sept. 25'07.
Constr'n & equip., leases & franch'ses 53,039,262 53,039,283
Betterm'ts & extr'y exp. on leased lines
Material and supplies
1,331,807 1,163,966
658,512
Cash
631,652
1,701,809
Bills receivable
1,701,809
Accounts receivable
794,708
389,080
49,766
Accrued interest and dividends
53,750
Miscellaneous interest accrued
17,698
2.921
Advances to Met. St. By. In excess of
amounts rec'd from Met. Sec. Co.
1,515,676
under contract May 22 1907
1,168,788
Stocks of other corporations
50,001
50,001
390,026
Special deposits
2,036,119
Prepayments
112,310
147,636
Suspense
562,4782,122
Rent of lines oper. under leases, &c_
Deficit
10,392,435 12,029,607
Receiver's
Statement
June 30'08.
a$1,189,865
1,153,752
196,590
318,331
3,872
110,227
57,907
103,687
94,720,114
1,047,682
Total
$21,507,738 $21,525,484
Liabilities
Capital stock
$13,000,000 $13,000,000
Current liabilities matured and unpaid 4,268,183 c2,597,463
do
do
unmatured
2,661,610 d4,350,076
Receipts from Joint Receivers' Certificate Fund
Reserve for net deficit of cos. a majority of whose stock is owned
1,577,945
1,577,945
Reserve for special franchise taxes in
litigation
Reserve for injuries and damages..
Excess of realization from assets over
expenditures
Defaulted rents
*8,902,027
$21,507,738 $21,525,484
$8,902,027
Total
5922,495
1,012,414
e640,744
599,813
686,264
1320,183
4,720,114
a Subject to final accounting between respondents and the receivers of
the Met. Street Ry., $1,668,680, less reimbursements ,from receivers of
Met. Street By., $454,334; from Central Crosstown RR., $24,480; leaving
a balance, as per balance sheet, of $1,189,865.
b Defaulted under orders of the U. S. Circuit Court for the Southern District of New York.
C Includes taxes, $177,796; interest on funded debt ol companies operated
under agreements, $1,050; rent of leased lines. $388,976; accounts payable.
$1,472,169; bills payable, $534,559; miscellaneous, $22,913.
d Includes taxes, $1,685,561; interest on funded debt of companies operated under agreements,$69,604;interest on unfunded debt, $37,934; rent of
leased lines, $2,554,884; accounts payable, $2,094.
e Under the orders of the Court there were issued as of June 15 1908 receivers' certificates at 5%, which were joint obligations of the New York
City Ry. and the Metropolitan Street By. From the special fund created
by the sale of these certificates, the joint receivers received and disbursed
$640,744 on account of the New York City By.
f Authorized by Court orders in connection with the obligations at
Sept. 24 1907 of the New York City Ry.-V. 87; p. 813.
Notwithstanding a year of general business depression, the surplus for
the year is $33,954 greater than during 1907.
The economies effected in operating expense were not in any instance at
the expense of the upkeep of the plant, the condition of which has been
maintained at a high standard. With a return of normal business conditions these operating economies will be continued, and the net earnings
thereby increased.
An additional pier is in course of construction, and will be completed in
the fall of this year. As the cost of this pier is met largely from surplus,
the income from it will increase net earnings.
Traffic arrangements were effected with the Pennsylvania RR. during
1908 and with the New York New Haven & Hartford RR. in the early part
of 1909. These arrangements now give the company a traffic connection
with every railroad entering New York.
The general business of the company continues to improve, and the outlook for the future is bright.
INCOME ACCOUNT FOR FISCAL YEARS ENDING DEC. 31.
1908.
1907.
1905.
1906.
Gross earns,from storage,
&c., and net income
$740,954
$885,025
from RR. department $952,140 $1,014,317
268,582
415,574
377,247
311,546
Operating expense
Net earnings
Other income
$683,558
43,643
$598,743
68,698
$507,778
$429,408
INTotal net income__
Deduct
Interest on bonds
Taxes
$727,201
$667,441
$507,778
$429,408
$434,049
90,141
$425,943
72,442
$300,300
64,882
$223,748
53,547
$203,011
Surplus for the year__
Prop. int. on constr'n
bonds issued during y'r
,
Preferred dividends_ _ _ _(236)37,500
$169,057
$142,506
$152,113
30,451
(2 %)37,500
32,039
(5)75,000
$169,057
$45,073
.5165,511
$74,555
Balance, surplus
paid Jan. 30 1909,
Note.
-The annual dividends above mentioned, 2
23•5% Feb. 1907 and 5% Feb. 1906, respectively, are deducted above from
the earnings of the preceding calendar years for the sake of simplicity, instead of being charged against profit and loss surplus, as in the several annual reports.
• The surplus for 1908 as above was $165,511; adding the accumulated
surplus Dec. 31 1907, $188,566; interest earned in 1907, $1,272, and miscellaneous adjustments, $9,838, and deducting equipment written off,
$23,854, sinking fund, $33,145, and allowances and adjustments, $6,781,
leaves total surplus Dec. 31 1908, as per balance sheet, of $301,407.
Total
15,047,006 14,900,962
-V.88. D. 163. 161.
Total
National Lead Company.
(Report for Fiscal Year ending Dec. 31 1908.)
President L. A. Cole says in substance:
For the 17th fiscal year, ending Dec. 31 1908, the net earnings were 52,901,753, or 539,492 less than the preceding year. Regular quarterly
dividends were paid on both preferred and common stock of 7% and 5%,
respectively, and $164,251 was added to "surplus," which at the close of
the year amounted to $4,458,455. All charges for maintenance and repairs
were as usual charged to current expense of operation at the time incurred,
and amounted for the year to $236,193. The finances of the company are
in good condition and it has no debts other than those in liquidation.
The volume of business done suffered a shrinkage in the aggregate of but
2% in comparison with the year 1907, which was th largest In your history.
The protection afforded by the varied character of your output was demonstrated most forcibly in a year of general depression, and the early expectations of the management were more than realized in both tonnage and
profit. The properties which you have from time to time acquired have
also generally contributed to your prosperous condition, and in no instance
failed to pay, not only fixed charges, but some additional measure of profit.
Inventories at all points and of every character have been,as usual,taken at
protective values and lower than any raw material prices yet quoted.
-Business for the current year exceeds that of last, but this was
Outlook.
to be expected. It halts in some features, and we do not look for confident
trade until all doubt as to the future tariff is dispelled. Competition is
increasing, but your position will be maintained by such conservative
activity as may be necessary to protect trade. New articles are added to
the list of your manufactures of lead in its various forms as its uses are extended or when it is found profitable to conserve existing tonnage. One
of the companies in which you are interested, and which makes shot on a
large scale, has prepared plans for the manufacture of metallic and shot gun
ammunition, but these are held in abeyance for the time being. Your
mining and smelting interests have a plant in process of erection for the
manufacture of sublimed lead, a product which now enters into a variety of
uses, including ready-mixed paints.
RESULTS FOR CALENDAR YEARS.
1907.
1006.
1908.
Net earnings
$2.902,753 52,942,245 $2,490,632
Deduct
Div. on preferred (7%).. 1,
705,732
1,705,732 $1,395,744
Div. on common
032,770(4,
4)981,131 (3)619,662
(5)1.
Surplus
Previous surplus
1907.
1,500,000
3,500,000
3,334,000
5,669,000
300,000
145,984
9,958
178,565
14,508
10,000
50,380
188,566
15,047,006 14,900,962
1905.
$2,082,632
$1,043,280
$164,251
4,
294,204
$255,382
4,038,822
$484,226
3,554,506
$1,039,352
2,515,244
Remaining surplus_ __ $4,
458,455
$4,294,204
$4,038,822
$3,554,596
GENERAL BALANCE SHEET DEC. 31.
1908.
1907.
1908.
1907.
Assets
Liabilities
Plant investment_24,478,947 24,324,093 Common stock_ _ _20,655,400 20,655,400
Other investments 13,780,430 13,738,018 Preferred stock_ _ _24,367,600 24,367,600
Stock on hand____ 7,252,231 6,700,865 Surplus
4,458,455 4,294,204
Cash in bank
933,676 1,224,364 Notes payable_7,000
27,000
852,378 1,405,349 Accounts payable_ 215,797
Notes receivable
149,470
Accts. receivable_ 2,406,590 2,100,985
49,704,252 49,493,674
Total
-V. 88, p. 161.
Bush Terminal Company.
(Report for Fiscal Year ending Dec. 31 1908.)
GENERAL BALANCE SHEET DEC. 31.
1908.
1908.
1907.
Assets
Liabilities
1,742,400 1,742,400 Preferred stock_ 1,500,000
Real estate
Impets & equip't_ 5,285,549 5,220,202 Common stock_ 3,500,000
Construction exp. 283,807
260,029 First mtge. 4s____ 3,295,000
Consol. mtge. 5s... 6,012,000
Stock subsid. cos.
5,000,000 5,000,000 40th St. mtge
and good-will
115,987
Advances to Bush
Accounts payable_
278,219 Expenses accrued
Terminal RR __ 273,979
4,891
Advances to Bush
not paid
1,489,924 1,363,159 Pref. dividend paid
Land Co
224,369
231,479
37,500
Jan. 30 1909_
Equipment
6,525
6,519 Bond interest acFurn. & fixtures__
184,690
crued
Cash,& accts. rec'ie
12,005
Sundries
(latter in great
333,329 Reserve for claims,
part collected)_ 370,468
&c
Due from cos, and
:39,253 Sink, fund reserve
48,918
83,525
individuals ____
52,517 Profit and loss__ 301,407
Exp. paid in adv_
31,040
Insurance losses re1,788
1,895
coverable
7,733
Inventory
9,060
Accrued storage &
277,270
labor
151,234
798
Cash in sink. fund_
477
90,176
Due from agts.,&c. 120,222
3,200
Sundries
28
941
Total
49,704,252 49,493,674
Bethlehem Steel Corporation.
(Report for Fiscal Year ended Dec. 31 1908.)
President C. M. Schwab, April 6 writes in substance:
Orders.
-The total estimated amount of the orders booked by the Corporation during the year, with an estimated amount of uncompleted orders
on hand Dec. 31, and also the number of employees on that date, in 1908
and 1907 respectively, are shown in the following comparison:
Orders
Uncompleted
No.EmBooked.
Orders.
ployees.
Dec. 31 1908
$14,458,998
$7,592,503
8,615
Dec. 31 1907
15,615,019
8,514,666
9,783
The depression in business following the financial disturbance of the fall
of 1907 proved to be more severe than was generally anticipated, and the
year 1908 was the most unsatisfactory that the steel industry has known
for many years. The small volume of business and the lessened production
resulted in high costs and reduced profits as compared with 1907.
Under the existing circumstances the results of the operations for the
year, showing as they do a surplus of earnings over and above the fixed
charges and bond interest of $736,864, are quite satisfactory.
Bonds and Notes.
-Under the $12,000,000 first extension mortgage of
the Bethlehem Steel Co. there was due on July 1 1908 $300,000 on account
of sink g fund, and against this there was purchased and canceled $333,000
of bonds of this issue.
All of the $2,500,000 of Bethlehem Steel Co. 6% serial gold notes of
July 1 1907, referred to in the last report, were sold. The special loan
secured by $591,000 of these notes has been paid, and there are now in the
treasury $79,000 of these notes, since purchased (V. 86, p. 916).
-The close of the year shows all furnaces and
Bethlehem Steel Co. Plants.
mills of the Saucon (new) plant, referred to in our previous reports, completed and in operation, the last of the mills, the 28-inch structural mill,
having been put in operation May 31 1908.
The capital expenditures on plant during the year aggregated $1,509,725,
being mainly on account of the completion of the new mills and the addition
of soaking pits at the Saucon plant and the work on a new blast furnace
at the Lehigh (original) plant. Due to the stringency in the money market
work on the blast furnace was discontinued for an indefinite period.
Juragua Iron Co.
-The mines of this company, a subsidiary of the
Bethlehem Steel Co., have continued in operation throughout the year,
producing 366,678 tons of Bessemer ore, all of which was shipped to the
Bethlehem Steel Co. This production of ore is the largest of any year
since the properties have been in operation. The mines are now commencing to show gratifying results from the large expenditures for improvements and development, both in the quantity of ore produced and the
lessened cost of production. The development of new ore bodies has
continued steadily and with good results.
During the year a large new property, practically contiguous to that
of the present property, has been leased under favorable terms, constituting
a large addition to our present ore reserves.
For several years past the discovery of large bodies of iron ore on the
north coast of Cuba have attracted the attention of the steel and mining
interest in the United States, and this development has been carefully
followed by your officers, with the result that there have been acquired
large tracts of ore-bearing lauds, by denouncement, purchase and lease.
While the quality of ore on these properties is not of the same standard
as that on the south coast of Cuba at our present workings, recent developments in the preparation and use of the ore make it practically certain
that these properties will become of great value in the future, the tonnage
already proven up in the properties now owned or controlled by us being
sufficient for many years to come.
Union Iron Works Co.
-The operations of this plant for the year reflect
the depressed business conditions existing on the Pacific Coast ciuringthe
past year, particularly the decreased activity in shipping interests. The
last of the seven vessels referred to in our previous reports has been completed, and there are now no orders remaining on which a loss is to be
anticipated. No new contracts of any note have been taken, but considerable attention has been paid to an expansion of the business in the manufacture of mining and other machinery and general commercial work.
Union Iron Works Dry Dock Co.
-Consolidation-Bonds.
-The policy
of making a specialty of marine repair work has been adhered to with very
satisfactory results. The San Francisco Dry Dock Co., the owner of three
floating docks and two large graving docks, has had no facilities for repairing
vessels, and the consolidation of the interests of the Union Iron Works Co.
and the Dock Co. has long been looked upon as advantageous. In order
to effect this, the entire property of the San Francisco Dry Dock Co. was
purchased (V. 87. p. 1360) by the Union Iron Works Dry Dock Co., a subbid ary company of the Union Iron Work“ Co.
The final agreement for the purchase of the property was made Nov. 11
1908. Under this agreement the Union Iron Works Dry Dock Co., all of
whose stock is owned by the Union Iron Works Co., acquired the dry dock
properties for a purchase price of $1,000,000 In 20-year 6% purchase
money mortgage bonds, an assumption of an underlying mortgage indebtedness of $500,000 5% bonds and a cash payment of $312,500. None of
these bonds are a lien upon the property of the Union Iron Works Co.
-The volume of business has been
Samuel L. Moore & Sons Corporation.
greater than in 1907, and several of the special lines of machinery and
construction have shown a good return, the general operations, however,
showing a slight loss for the year. If present expectations in regard to the
development of ce.rtain special types of machines are realized, we will be
able to show a substantial profit.
Harlan ,S; Hollingsworth Corporation.-NotwithstandIng the fact that the
ship and car-building business has suffered from extreme dulness, this
company closed the year with a profit. The plant is being steadily improved in its equipment and facilities for economical manufacture, and
plans for an expansion of its car-building department have been completed
and the construction begun.
BETHLEHEM STEEL CORPORATION AND SUBSIDIARY COS.
Consolidated Income Account for Years ending Dec. 31.
1907.
1908.
1906.
1905.
$
2,569,252
1,859,353
3,468,802
Net manufacturing profit. 2,020,208
Less share extraordinary
losses on uncompleted
ship contracts, &e.,
propor. to year's work_
647,193
295,671
2,020,208
2,569,252
1,212,160
3,173,131
68,193
39,544
93,868
'109,631
25,234
30,161
58,147
44,042
Total income (see note) 2,192,355
DeductInt. on Beth. Steel Corp.
bonds retired In 1905_
140,667
Int. on notes & advances
Int. on bonds. &c., of
subsidiary companies'
B.I:Co.bds.(pd.Feb.'07)
B.St.Co.pur.money bds. 448,810
B.St.Co.lst ext.M.bds.
667,874
(Incl. propor. of disc.) _
Beth. St.Co.6% ser.gold
notes (inel.prop.of disc.) 184,140
2,638,957
1,364,175
3,326,804
112,330
44,122
36,500
12,875
5,629
447,675
67,550
444,480
67,550
444,480
304,830
45,274
750,864
1,717,747
14,000
370,000
98,959
Div. and int. on investments, deposits, &c_ _ _
Misc., incl. rents on prop.,
&c
Profits on purch. of bonds
for sinking fund
Excess book value over
amts. realized on sale of
investments in subsid.
cos. and on sundry inv_
Depreciation fund
Dividends on pref. stock_
[VOL.
THE CHRONICLE
942
78,720
The tables of income account and balance sheet as now
furnished are consolidated statements, including both the
parent company and its subsidiaries. No comparison,
therefore, is possible with the figures of previous years.
CONSOLIDATED INCOME STATEMENT FOR YEAR ENDING
DEC. 31 1908.
[Rubber Goods Manufacturing Co. and Subsidiary Companies.]
Net sales for year 1908
$18,491,988
Earnings subsidiary companies for year ending Dec. 31 1908
$2,203,519
Expenses (Home Office, 9 mos., $51,176; maintenance, $104.335; sinking fund, $63,425)
218,936
Net profits
Dividends
Surplus for period
Surplus and working capital March 31 1908
Surplus and working capital Dec. 31 1908
Balance, stir. or (lef__ _ser.366,864sur.1,506,979 def.131,731sur.1,843,619
-During the year 1908 there was charged to cost of operations for
Note.
ordinary and extraordinary repairs and maintenance $1,654,571, against
$1,726,546 in 1907; but this appears in the profit and loss account above
only in so far as material on which work was done during the year was
shipped.
BETHLEHEM STEEL CORPORATION AND SUBSIDIARY COS.
Consolidated Balance Sheet, December 31.
1907.
1908.
1906.
$
8
$
Assets44,450,881 37,857,261 32,543,433
Property account Jan 1
6,593,620
1,650,010
Additions during year
5,313,828
Deposit used to retire bonds Feb. 1 '07
1,347,572
3,620 864
3,407,953
Raw materials and supplies
2,605,430
Worked material and contracts in
progress, less bills rendered, and
3,079,147
3,372,119
reserves for losses
4,190,112
3,486,382
2,732,668
2,513,166
Accounts and notes reeelvabie
258,045
337,992
.
518,847
Miscellaneous investments
Proceeds due on disposal of 6% gold
notes on deposit under agreement of
322,218
sale
299,170
94,170)
Cash for coupons payable
202,969' 62,882,846
Cash on spec. deposit & accrued int_
1,133,895
735,5211
Cash in banks and on hand
Deferred charges to operations (includ
disc, on realization of Beth. Steel Co.
1,583,554
1,953,835
943,343
bonds & notes & expense of issue)
58,893,295
Total
Liabilities
14,908,000
Preferred stock
14,862,000
Common stock
Beth. Steel Co. 1st ext. mtge. bonds_ _11,667,000
2,421,000
Serial gold notes
Bethlehem Steel Co. purchase money
7,500,000
6% gold bonds, due 1998
Beth. Iron Co. bonds (paid Feb. 1 '07)
2,455,667
Notes payable
1,699,639
Accounts payable
75,000
Bond interest accrued
299,170
Coupons payable
Deposits on contracts
400,000
Depreciation reserve
106,524
Reserves for re-lining furnaces, &c_ _ _
32,031
Contingent reserve, &c
2,467,264
Profit and loss surplus
58,283,979
52,858,578
14,908,000
14,862,000
12,000,000
1,887,000
14,008,000
14,862,000
7,400,000
7,479,000
7,408,000
400,000
164,086
38,919
2,100,400
IAA
558,238
400,000
74,340
$4,168,894
Total liabilities
$38,106,486
$38,106,486
Total assets
Of the above "surplus" minority stockholders in two companies would
$109,954
be entitled to
The contingent liability for certain guaranties which are offset by corresponding
-V.87, p. 1303, HO.
contingent assets are not Included.
Ingersoll-Rand Company.
(Report for Fiscal Year ending Dec. 31 1908.)
STATEMENT OF EARNINGS FOR YEAR ENDING DEC. 31.
1906.
1907.
1908.
$891,639 $1,788,602 $1,638,936
Earnings before charging deprec'n__ _
369,707
433.984
444,734
Deduct-Regular provision for depr'n
Net earnings for year
Interest on bonds
Dividend on pref. stock,6%
Special reserve for patents and licenses
Special reserve for inventories
Net surplus for year
Surplus brought forward
$446,905 $1,354,618 $1,269,229
$100,000
$100,000
$97,982
269,901
285,738
289,808
615,000
10,000
500,000
$64,115
920,632
$458.880
461,752
$284,328
177,424
$984,747
Total surplus
$920,632
$461,752
BALANCE SHEET DEC. 31.
1908.
1908.
1907.
1907.
Liabilities$
$
Assets
206,088
206,088 Preferred stock___ 4,694,000 4,800,000
Real estate
L48,128 Common stock___ 3,000,000 3,000,000
150,908
Water supply
1,735,474 1,705,112 First mortgage gold
Buildings
2,117,644 2,126,906
bonds
1,989,600 2,000,000
Machinery
278,837
147,339
483,040 Accounts payable_
Tools and jigs___. 422,716
132,237
240,000
136,905 Bills payable
Patterns
114,544
123,199 Bond Interest acDrawings
50,000
49,740
84,951
crued
79,635
Furniture & fixt's_
Patents,licenses,&c 625,000
625,000 Preferred stock div140,814
143,994
idend Jan. 1
Investments in for313,975 Depreciation reeign mfg. cos___ 367,025
668,903
*942,474
serve
3,725,109 4,539,062
Materials, &c
Accts. receivable_ 1,325,355 1,731,702 Patent and license
625,000
625,000
reserve
118,853
164,920
Bills receivable__
Special inventory
Marketable stocks
500,000
500,000
reserve
1,206,440
3,650
and bonds
920,632
984,747
61,963
88,271 Surplus
Agents' cash bal_
661,130
751,773
Cash at bank
Deferred charges to
operation
18,277
Total
ZS
g 3,78g:?A:
94,170
2,362,707
1,9H:s
$5,379,095
1,210,200
CONSOLIDATED GENERAL BALANCE SHEET DEC. 31 1908.
[Rubber Goods Manufacturing Co. and Subsidiary Companies.]
LiabUittesAssets
$23,505,178 Capital stock, preferred
$10,351,400
Plants and investments
Capital stock, common
Patents and trade-marks (less
16,941,700
2,369,787 Bonds of Mech'I R. Co. and
depreciation)
N. Y. Belt. & Pack Co.
Manuf'd goods and materials_ 6,996,190
(less amount owned)
907,365
939,510
Cash
13111s and accounts receivable_ 3,322,829 Bills and accounts payable_ _ 2,690,724
5,137 Sinking fund for bonds
515,038
Securities owned
cos.) 2,499,219
Stock in General Rubber Co_ 1,000,000 Fixed surpluses (subsid.
Surplus
4,168,895
2,765,399
400,000
(34)111.810 • (6)894,480 (334)521,780
$932,884
4,446,211
Amounts charged off for depreciation of plants, patents, &e__ _
50,746
762,749
$1,984,583
1,051,699
13,073,714 13,227,366
Total
13,073,714 13,227,366
• After reduction of $171,163 in valuations of capital assets charged
-V.86, p. 978.
against fund.
Central & South American Telegraph Company.
(RePort for Fiscal Year ending Dec. 31 1908.)
Pres. James A. Scrymser, N. Y., March 26, writes in brief:
Construction, &c.
-The company's Superintendent, Herbert Kingsford,
In reviewing the cable and reconstruction work to the end of 1908, says:
some time past heavier cable has been substituted for the lighter
For
58,283,979 52,858,578
Total
types wherever experience has shown this to be advisable, and the whole
a Including in 1906 about $2,449,676 since paid out for construction system is now apparently safe in this respect.of Construction work on the
the Buenos Aires & Pacific
Trans-Andine line in Argentina, on the routes
purposes.
b The profit and loss surplus Dec. 31 1906 was arrived at after deducting By. and Argentine Great Western By., under contracts with those comaggregating $1,118,468, not considered panies, is progressing satisfactorily. About 500 miles of line, westward
extraordinary losses and reserves,
whole
as properly chargeable against earnings of 1906. Compare V. 84. p. 1111. from Buenos Aires, has been completed and is in daily use. The
of this new line, it is expected, will be completed by October next, and
-V. 87, p. 1359.
with the establishment of the Panama-Colon cable the entire system will
be in excellent order. Considerable strides having been made throughout
Rubber Goods Manufacturing Co.
the year in automatic working on the company's lines, we are in every way
better qualified to cope with increasing traffic, and altogether our prospects
(Report for Fiscal Year ending Dec. 31 1908.)
are brighter than ever before."
This company's stock is nearly all owned by the United
-During January 1909 a four
New Cable Across Isthmus of Panama.
States Rubber Co. President John J. Watson Jr., April 8, conductor cable was laid across the Isthmus of Panama, joining the company's Cuba-Colon cable, so that Cuba now communicates directly with
writes:
Panama without the Intermediation of the Colon office. This cable weighs
wholly on the
General Results.
-For the year 1968 the total sales, as compared with 734 tons per mile and is 4734 miles in length, being laid highly satisfac1907, showed a decrease of less than 14%. The earnings were $2,203,519, eastern side of the Panama Canal. The cable has proved circuit Feb. 4,
tory, excellent tests having been obtained. It was put into
as compared with $2,371,827 for 1907, a decrease of about 7.1%. Thus
and Panama
It appears that while the volume of the business of your company has been since which date direct duplex communication between Cuba of a permaaffected during the year by general conditions existing throughout the has been maintained without intermission. The Importance Pacific cable
cable connection between the company's Atlantic and
nent
country, the profits have not been correspondingly decreased.
self-evident.
The larger part of the decrease in sales in 1908 was due to a falling off systems is Stock.
-From March 1 1908 to recent date 13,248 shares of the
Price of
in the railroad demand for air-brake hose, steam hose and other material,
company's stock have changed hands at prices ranging from $102 to $115
a demand which recently has decidedly improved.
Mexican company's
The automobile tire business increased, the sales having been the largest and Interest per share. About 1,094 shares of the prices ranging from
of any in the history of tho company, and a still larger volume for the stock have changed hands during the same period at
year 1909 is indicated by the present condition of orders. Owing to the $220 to $250 and interest per share.
greater demand for our tires, It has been necessary to enlarge the capacity
RESULTS FOR CALENDAR YEARS.
of the plants where the Hartford, Morgan 45: Wright and G. & J. tires are
1906.
1905.
1907.
1908.
manufactured.
in excellent condition, and in Receipts from all sources $1,664,506 $1,749,045 $1,475.507 $1,316,249
All of the plants have been maintained
Deduct
many instances extensive improvements and additions have been made.
$556.066
$481,364
$430,950
$1348,643
The selling organization of the United States Rubber Co. has been Operating expenses..._
55,034
33,412
43,374
84,559
utilized to a greater extent than previously, and the volume of goods dis- Cable used in repairs__ _
25,925
tributed through this channel has largely increased, with indications that Deprec'n investm't b'nds
Mexican Government_'__
2,592
In the future the company will derive greater benefits from this source.
(6)574,260 (13)551,031 (6)463,538 (8)463,538
The regular quarterly dividends of 1 4% have been paid on the pref. Dividends
stook and four dividends of 1% each have, during the year, been paid
$607,935
$378,399
$475,573
$328,527
&Surplus for the year.._
on the common stock.
' 58,893,295
b5lig,i17
1
THE CHRONICLE
Ariz. 10 1909.1
BALANCE SHEET DECEMBER 31.
1907.
1907,
1908.
1908.
Assets
$
LiabilitiesPlant
9,408,254 9,545,308 Capital stock
10,000,000 10,000,000
145,052
Construction exp.. 1,835,742 1,635,960 January dividend_
143,565
178,369
Spare cable
175,077
66,871
203,686 Sundry creditors.._
300,000
Cash in banks
12,433
100,000
13,782 Loan on collateral_
925,000
Railroad bonds &
Construction certs. 750,000
other securities_ 237,512
344,190 Surplus revenue
Treas. stock (par) 429,000
1,348,347 1,019,819
428,900
Dec 31
Sundry debtors ,includ, traffic bal. 310,765
396,414
Total
12,408,783 12,568,240
-V. 88, p. 885.
Total
12,408,783 12,568,240
Mexican Telegraph Co.
(Report for Fiscal Year ending Dec. 31 1908.)
The text of the report is identical with that in the report
of the allied Central & South American Telegraph Co.
herewith.
RESULTS FOR CALENDAR YEARS.
1908.
z Receipts from all sources $811,342
Deductat xrcain&ovtpepse4i i_ it- $153,750
e iat n
)e
ex s na . p
1907.
$1,047,531
1906.
$771.
872
1905.
$670,142
$114,448
$133,685
$126,386
30,354
14,215
287,010
1,401
32,500
9,951
287,010
6,027
30,000
32,431
263,068
24,000
11,676
191,260
$324,612
2,381,895
$578,358
1,803,537
$319,987
2,004,947
5328.758
1,676,189
$2,706,507
Total
y Deduct construe. acct.
expenditures
$2,381,895
$2,324,934
$2,004,947
_---_-
521,397
$2,706,507
$2,381,895
$1,803,537
tion in earnings
Cable used in repairs_
Divs. (10% per annum)
Sinking fund
Add to surp. for year
Previous surplus
$2,004,947
x Includes interest on investments and deposits in 1907, about $106,500.
V Re third Gulf cable and other betterments, as mentioned in circular of
Dec. 30 1906.
BALANCE SHEET DECEMBER 31
1907.
1908
1908.
1907.
Liabilitiess
$
Assets
2,816,561 2,816,561 Capital stock
3,000,000, 3,000,000
Plant
359,119 244,516 Sundry creditors, InCash at banks
cluding traffic balConstruction account
*710,338 619,175
ances
61,579
81,702
re-third cable
Loans on collateral_ 400,000 950,000
Construe. loan to Cen.
750,000 925,000 Dividend
71,752
71,753
& South Am.Tel
' RR. bonds & other
Surplus revenue end
securities (cost) 1,268,720 1,599,706
of year
2,706,507 2,381,895
Treasury stock (par) 129,900 129,900
Sundry debtors, incl.
205,200 150,490
• traffic balances
Total
6,239,838 6,485,349
Total
0,239,838 6,485,349
* Includes part cost New York-Colon cable and equipment of New York cable
office and connections, $499,379, and of cable steamer Relay, $210,959; total, $710,338-paid for from surplus earnings since the closing of the construction account
March 31 1906.-V. 88. P. 886.
943
BALANCE SHEET DEC. 31,
1908.
1907.
1908.
1907. I
I Liabilities
$
$
Plant, franchises, &c 4,101,135 4,087,111 Capital stock
3,844,700 3,844,700
Stocks and bonds of
1Sundry accounts pay.
Cos. not merged.. a207,500 a207,5001 able
11,685
8,735
Supplies
894
845
18,697
24,756 Contingent liabilities
Sundry acets rec'ble 47,628
541,700 536,459
45,972 Profit and loss
Advances
1,6611
3,607
Due from managers_
24
481
Due from agents_ __ _
1,097
5,0341
Cash in treasury..
19,291
18,6571
1
Total assets
4,398,979 4,390,7391 Total liabilities...4,398,979 4,390,739
Assets-
a Includes 1,750 shares stock Holmes Electric Protective Co., $175,000; 55 shares
stock American District Telegraph Co., $5,500; 170 shares stock American District
Telegraph Co. of New Jersey, $17,000; 10 collateral trust bonds Western Union
Telegraph Co.. $10.000.-V. 88. D. 232.
Standard Chain Co.
(Balance Sheet of Dec. 311908.)
Assets
Cost of property
Stock and 1st mort. bonds pledged
with mortgage trustees
1st mortgage bonds pledged for loans
John C. Schmidt, trustee, stock purchased at cost
Securities owned
Cash
Accounts and notes receivable
Materials and supplies
Total
Liabilities
Preferred stock
Common stock
First mortgage bonds
Notes and accounts payable
Accrued wages
Accrued interest and taxes
Unpaid dividends
Res. for doubtful accounts
Reserve for depreciation
Surplus
Total
1908.
$
1,165,019
1907.
$
1,131,353
1906.
$
1,111,528
x84,707
77,000
84,707
77,000
84,707
77,000
9,843
46,000
22,767
207,813
355,890
9,615
27,800
21,140
216,899
384,044
23,411
265,927
299,245
$1.969,039
$1,952,558
$1,861,818
515,700
284,871
545,000
233,019
11,570
14,022
8,428
515,700
284,871
561,000
243,702
12,365
14,338
4,006
25,000
270,748
25,000
314,947
10,000
219,842
1,969,039
1,952,558
1,861,818
515,700
284,871
542,000
298,547
14,166
14,001
x Includes $30,000 of co.'s 1st M. 68 and $54,707 par value of its stock.
[In 1901 two dividends of 1 %% each were paid on the preferred stock
(then $1,031,400), none thereafter till 1907, when 7% ($32,818) was paid
on the then outstanding preferred. After making this distribution there
remained a surplus from the year's opreations of $95,368 to be carried to
profit and loss, contrasting with $94,991 in 1906. No income account is
furnished for 1908.1-V. 86. p. 1341.
American Sugar Refining Company.
(Description of Properties,dcc.)
The following particulars from the statement furnished
to the New York Stock Exchange Jan.7 1909 should be read
in connection with the annual report in V. 88, p. 820:
The company was Incorporated under laws of New Jersey Jan. 10 1891.
Authorized capital is $45,000,000 7% cumulative pref. stock and $45,000,000 corn. stock, all issued and outstanding. The stock is fully paid. The
pref. stock is entitled to preference and priority over the corn. stock to
quarterly dividends, to be paid out of the net profits on the second days
of Jan., April, July and Oct. in each year at the rate of 7% per annum.
American District Telegraph Co. of New Jersey.
Such dividends are to be cumulative, and the pref. stock is entitled to no
other or further share of the profits. The holders of the pref. stock are
(Report for Fiscal Year ending Dec. 31 1908.)
entitled to vote at all meetings of the stockholders in the same manner
as the holders of the corn. stock.
INCOME ACCOUNT FOR CALENDAR YEARS.
Sugar Refineries Owned in Fee, All Equipped with Modern Machinery.
1905.
1908.
1906.
1907.
At Jersey City, N. J.-Matthiessen & Wiechers Refinery, comprising about
Gross
$3,221,728 $3,017,174 $2,799,624 $2,534,698
8 acres of city land, deep water frontage on Morris Canal Basin and rail1,842,879
Expenses
2,083,798
2,435,845
2,304,215
road facilities.
At Boston, Mass.
-Standard Refinery, South Boston, about 4 city blocks.
$691,819
. Net
$715,826
$712,959
$785,883
with 800 feet of water front, dock and railroad facilities.
390,049 At New Orleans, La.-Loulsiana Refinery, in North Peters St., about 4
Dividends (4%)
392,951
398,088
396,899
city blocks; railroad facilities. Near New Orleans: Chalmette Refinery,
Surplus
$387,795
$316,060
$322,875
$301,770
in course of construction; will be completed early in 1909; comprises
about 30 acres of land, 1,400 feet water front, with the best obtainable
dock facilities and railroad accommodations; capacity about 9,000
BALANCE SHEET DEC. 31.
barrels per day.
1907.
1907.
1908.
1908.
Operated by Am. Sugar Ref. Co. as Owner of Whole Capital Stock of Am.
Liabfillies
AssetsSugar Ref. Co. of New York.
Capital stock
9,965,351 9,925,351
Secur. owned(cost) 8,440,567)
283,000 At Brooklyn, N. Y.-Havemeyer & Elder Refinery, and Brooklyn ReBonds payable__ _ *395,000
Advances to sub1
2,155,614 }11,403,895 Accounts payable_
28,130
39,626
sidiary cos
finery adjoining, in Kent Av. and extending to East River; comprise
Bills payable
550,0001
50,000
50,000
Contracts
4 city blocks and 4 piers, with docks and wharfage facilities; also 2 blocks
Interest accrued on
Pat'ts, franch.,&c. 780,000j
on opposite side of Kent Av.
123,660
collateral trust
Cash
109,657
37,279
bonds
37,812
4,958
Accts. receivable_
3,538 Operated by Am. Sugar Ref. Co. as Owner of Whole Capital Stock of Spreckels
Sugar Refining Co. of Pennsylvania.
24,947 Suspense account_
5,743
9,881
38,095
Mfg. acct. invent'Y
15,695 Res. for ret. bonds
-Spreckels Sugar Refinery, about 12 acres of land
Bond disc't acct._
18,026
17,500 At Philadelphia, Pa.
Dividends payable
99,622
99,221
302
Accrued interest
with railroad connections and extensive wharfage facilities and 3 docks.
Surplus
1,632,737 1,244,943 Controlled by Am.Sugar Ref. Co. as Owner of Whole Capital Stock of Franklin
Supplies in stock
67,583
51,468
Inventory
Sugar Refining Co. of Pennsylvania.
-Franklin Sugar Refinery (not now in operation).
Total
12,181,541 11,673,059 At Philadelphia, Pa.
12,181,541 11,673,059
Total
It comprises about 6 blocks of city land, with railroad facilities and
2 docks.
$320,000; "Detroit trust," $75,000.
*Includes 5% collateral trust bonds,
Also Owned by American Sugar Refining Co.
-V. 88, p. 376.
Warehouse at Chicago, Iii., on 14th St.• leased to other parties.
Warehouse at St. Louis, Mo.. on Lewis Se., used for storage of refined sugar.
American District Telegraph Co. of New York.
• Held Through Ownership of Entire Ccipital Stock.
(Report for Fiscal Year ending Dec. 31 1908.)
Brooklyn Cooperage Co. of N. Y.; cooper shops and large storehouses a
Brooklyn, Boston and New Orleans, and in connection with the refineries:
President R. C. Clowry says:
stave mills in the Adirondacks, in Pennsylvania and Missouri, and timber lands.
The effect of the general business depression noted in the last report was
felt throughout the year, and resulted in a decrease of $93,170 in gross Brooklyn Transportation Co. of N. Y. Stables and equipments in Brooklyn and Jersey City.
receipts. Expenses were, however, reduced correspondingly, and the net
decrease for the year was but $10,922. Considering the extent to which Brooklyn Distilling Co. of N. Y., owning the distilling property (not in
operation) in Brooklyn.
other businesses suffered from the depression, the figures presented are regarded as very satisfactory, particularly in the matter of expenses, which, Insular Improvement Co. of California:,'owning real estate in San Francisco.
"All the property of the American Sugar Refining Co. is located in the
without impairment of the service, were reduced $82,247 from the already
United States. The dock and warehouse property in Ctiba, which I
low figures of the previous year.
-V. 88. p. 820.
Two dividends of 1% each. aggregating $76,888, were paid as usual. formerly owned, was sold last year."
the slight deficiency in net earnings being made up from the surplus,
which stands at $77,766. Notwithstanding the "hard times," there were
55 new office buildings to be wired and equipped with boxes, the cost of
• GENERAL INVESTMENT NEWS.
which is included in the expense of $424,790 for the year.
EARNINGS, EXPENSES AND CHARGES.
1908.
1906.
1907.
Subscribers Dec. 31, No.. Not stated. Not stated. Not stated.
$492,896
$586,066
$603,643
_
Revenues, all
424,789
507,037
517,723
Oper. exp., constr'n, &c.
sources._•
Net earnings
Dividends (2%).
j
x?
Balance, surplus
Miles wire
Offices
Instruments
Messages delivered
Messages collected
1905.
32,234
$593,695
498,321
$68,106
76.888
$79,029
76,888
$85,920
76,888
$95,374
76,888
def.$8,782
1,596
79
4,134,990
68,247
2,451,394
$2.141
1,595
80
34,488
5,153,412
2,663.002
$9,032
1,587
86
33,131
5,461,944
2,789,105
$18,486
1,587
87
32,234
5,295,200
2,583,185
RAILROADS, INCLUDING ELECTRIC ROADS. .1
Atlanta Birmingham & Atlantic RR.
-Time for Deposit
of Joint Collateral Trust Notes Extended.
-The committee,
C. Clark, Chairman, having already obtained the
George
deposit of a large amount of the joint collateral trustrnotes,
gives notice that the time for deposits has been extendedito
May 1. See advertisement on another page and compare
V. 88, p. 684, 821.
Boston Elevated Ry.-New Plan.
-See West End Street
Ry. below.
-V.88, p. 373, 98.
•
944
THE CHRONICLE
Brinson Railway.—Purchase.—The Savannah Valley RR.,
building from Egypt to Mill Haven, Ga., has been purchased by or in the interest of the Brinson Ry., and upon
-mile link under construction the system,
completion of a 10
it is said, will aggregate some 80 miles.—V. 86, p. 1158.
Canadian River RR.—See Santa Fe Liberal & Englewood
RR. in V. 88, p. 884.
Carolina Clinchfield & Ohio Ry.—Bonds Offered.—Blair &
Co., New York, are offering at 96 and interest, yielding over
5317 the unsold portion of a block of $10,000,000 first
0,
mortgage 5% gold bonds, covering the road shown on page
29 of our "Railway and Industrial" Section. These bonds
are dated June 1 1908 and due June 1 1938, but subject to
prior redemption at company's option at 110. Interest
payable June 1 and Dec. 1. Authorized, $15,000,000, of
which $5,000,000 are reserved, under the terms of the mortgage, for extensions, equipment and other future needs.
Par, $1,000 c*. Farmers' Loan & Trust Co., trustee. The
firm say:
This railway opens a new and important gateway for traffic through the
barrier of the Cumberland and Blue Ridge Mts , between the South Atlantic
States and the Middle West. It will be the means of further developing
the extensive coal fields of southwestern Virginia, thus bringing an abundant
supply of high-grade coal to the principal railroad systems of the South,
for their own use and for distribution through the growing industrial re
gions of the Coast States. It will also participate and aid in the development of coastwise and export coal business through the South Atlantic
ports. The railway is being constructed in accordance with modern engineering standards, to handle economically a large volume of traffic.
Condensed Extracts from Letter from Chairman Mark W.Potter, Feb.6'09.
Margin of Security.—The issue of bonds dated June 1 1908 is to be secured by a first lien on the line of railway from Fink, in the coal fields of
southwestern Virginia, to Spartanburg, S. C. (238 miles) and by a lien on
the branch line from Fink to Dante, Va. (7.3 miles). The property covered by the bonds will represent an expenditure for acquisition, development and construction of about $25,000,000, or about 2% times this issue.
The $10,000,000 of bonds now issued will provide for the remaining work
necessary to make the entire line ready for operation between Dante and
Spartanburg. The total amount of such first mortgage bonds authorized
Is $15,000,000, of which $5,000,000 are reserved, under the terms of the
mortgage, for extensions, equipment and other future needs. The $10,000.000 of bonds now offered, therefore, have a protective margin of 150%.
Coal Traffic Awaiting Railway Sufficient CO pay Double the Interest.—After
a thorough investigation of the coal consumption of the Southern Coast
States, John H. Winder, President of the (allied) Cjinchfield Coal
Corporation (V. 83, p. 157), wrote: "I am confidently of the (minion that
our corporation can market and will ship via this line within twelve months
from the opening of said line to Spartanburg at least 2,000,000 tons of coal,
and that this amount should be substantially increased annually by the
increase of purchases from present consumers, the further development of
this territory and the development of the coastwise business."
The coal traffic alone from this concern and others appears sufficient to
pay double the Interest on the present bond issue. Just as the railroad insures the successful development of these coal fields, so the coal fields, thus
developed, assure tho success of the railway.
Additional Sources of Income.—Large forests of hard woods promise
a heavy tonnage of lumber. Expert J. T. Odell, after investigation continued over several months, writes: "I regard the project as one of great
merit; its importance to the interests of the South Atlantic States cannot
easily be overestimated."
Advantage of Solid Construction.—The railway is built with easy curves,
exceptionally light grades for a mountainous country, heavy rails (85 lbs.),
concrete masonry and steel bridges; With few exceptions, earth and rock
fills take the place of trestles; and stone ballast is used over all but a small
portion of the line, where furnace slag is used. Mr. Odell says: "The construction is modern in every particular, low grades and easy curvatures
giving the maximum train-load and lowest cost for carrying coal."
Nearing Completion.—The railway is practically completed and ready for
operation between Dante, Va., and Bostic, N. C., about 211 miles. Work
on the extension from Bostic to Spartanburg, S. C. about 34 miles, is progressing rapidly. At Marion and Bostic connections with the Southern
Railway and the Seaboard Air Line will furnish entrance for Clinchfield
coal into the South; and connections with the Southern Railway and the
Charleston & Western Carolina (Atlantic Coast Line) at Spartanburg will
open new outlets for the coal traffic for all Southern points.
Earnings.—From coal tonnage, general freight and passenger and express business, the railway should make during the first year of full operation
net earnings in excess of $1,100,000, while the interest charges on the $10,000,000 of bonds are only $500,000. After the first year the net earnings
seem certain to increase rapidly. (The company was originally known as
the South & Western By., and it is controlled by the Cumberland Corporation. This last named, company has outstanding $25,000,000 common
stock and $15,000,000 6% pref. stock; also (a) $15,000,000 5% notes
secured by stock of the Carolina Clinchfield & Ohio By. and Seaboard Co.:
(b) $1,400,000 6% notes due in February 1909 and temporarily extended.
The old divisional bonds securing this last-named issue, originally $3,000,000, have all been redeemed and the above-described 1st M. 5s deposited
as collateral in their stead pending the early payment of the remaining 6%
notes. See pages 48 and 49 of "Railway and Industrial" Section; also
V. 83, p. 155; V. 86, p. 668.)—V. 88, p. 821. 451; V. 87 P. 67 .
,
6
Lxxxvizt
------- —
a contract granting the company a subsidy of $6,000 per
kilometer for the construction of a line from Marti to Manzanillo, through a rich district, on the eastern end of the
island. The subsidy was voted by the Cuban Congress in
1906."—V. 88, p. 451.
Cumberland Corporation.—Offeriny of Bonds of Controlled
Company.—See Carolina Clinchfield & Ohio Ry. above.—
V. 86, p. 668.
Delaware Lackawanna & Western RR.—Dividend Talk.—
With respect to the rumor that members of the board of
directors favor the doubling of the dividend rate or the making of some sort of stock distribution, "the representative
of one of the largest stockholding interests in the property"
is quoted as saying:
The matter has been an open secret for a long time, as the price of the
stock would show. It stands to reason that an equalization, so to speak,
that would bring the return to the stockholders closer to the known investment value and earning power of the property must come in time. There
has been absolutely nothing given out, however, that could be considered
authoritative on the subject. All I can say now is that the increased distribution of profits to the stockholders is closer at hand.—V. 88, p. 558, 504
Fitchburg RR.—Stock at Auction.—In Boston on April 14
1909 Francis Henshaw & Co. will offer for sale at public
auction 5,500 shares ($550,000) of additional preferred
capital stock in blocks of "any or all", no block, however,
to be less than 25 shares.—V. 88, p. 451, 374.
Hudson Companies, New York.—New Directors.—Dumont
Clarke, President of the American Exchange National Bank;
A. A. Tilney, of Harvey Fisk & Sons; and Chas. F. Adams
2d, of Boston, have been elected directors to succeed
Gardiner M. Lane, Cornelius Vanderbilt and Andrew Freedman, who recently resigned.—V. 88, p. 748, 505.
Hudson & Manhattan RR.—Commission Approves Extension to Grand Central Station.—The Public Service Commission on April 2 decided to grant the franchise asked for by
the company for the extension of its tunnel from Sixth Ave.
and 33d. St. to the Grand Central Station.
All that now remains to be done is to go through the formality of a
public hearing on the drafted terms of the franchise. The terms of the
franchise, it is stated, will be similar to those granted to the New York &
Jersey RR. (since merged) for the tunnel under Sixth Ave. In other
words, the franchise as proposed is virtually perpetual, being for 25 years,
with right of renewal for 25-year periods, subject to the right of the city
to modify at the end of each period the payment to be made for the grant,
and with the further right to purchase the line for use as part ofsome municipal system (compare V. 87, p. 37; also New York & Jersey RR., V. 80,
p. 117, and V. 79, p. 2697).—V. 88, p. 685, 624.
Keokuk & Des Moines RR.—Dividend Reduced.—This
company, the majority of whose capital stock is owned by
.
the Chicago Rock Island & Pacific Ry., has declared a dividend of 1% on the $1,524,600 of preferred stock, payable
May 1 to stockholders of record April 23. This is a reduction
of IA% from the distribution declared last August. Payments have been:
'95. '96-'98. '99. '00. '01. '02. '03. '04. '05-'07. '08. May 1 '09.
1
1
2 1A
A
None
1 3.;
A
1
90c. None
Compare V. 87.1). 37.
Lake Shore & Michigan Southern Ry.—Lease.—The shareholders will vote May 5 on approving a contract for the lease
to this company of the railroad of the Jamestown Franklin
& Clearfield RR. Co. (V. 88, p. 506), recently formed by
consolidation of Lake Shore subsidiaries.—V. 88, p.763, 742.
Louisville & Nashville RR.—Favorable Decision—The
United States Supreme Court on April 5 (Justice Peckham
writing the opinion) affirmed the decision of the Federal Circuit Court for the Western District of Kentucky in the suit
brought by the company and other roads in 1906, holding
invalid an order by the Kentucky Railroad Commission providing what are termed "maximum rates" on the transportation of all comoodities to and from all points in the State.
It is held that the statute does not grant such extensive powers as it
has assumed, and that as the express power was not given in so many words,
It cannot be implied.
Decision by Lower Federal Court.—The United States CirChicago City Ry.—In Possession.—See Southern Street cuit Court at New Orleans on April 6 dissolved the injuncRy. below.—V. 88, p. 819.
tion granted by Judge Jones restraining the Alabama Railroad
2
Chicago Indiana & Southern RR.—Report.--For cal. year: Commission from putting into effect the 23/-cent passenger
Net.
Other Inc. Charges.
rate and reduced freight rates under laws passed by the LegisYear—
Gross.
Balance.
$976,592 $54,809 $1,184,383 def.$152,982 lature in 1907. The Court held that application must first
1908
$2,900,422
1,061,353
88,178
1907
926,351 sur. 223,180
3,004,483
be made to the State courts before redress is asked from the
—V. 86, p. 1223.
Chicago Milwaukee & St. Paul Ry.—Earnings—Exten- Federal courts.—V.88, p. 883, 452.
Metropolitan Securities Co.—Payment of Claim.—Thomas
sions.—President Earling is quoted:
Passenger earnings on the St. Paul lines are increasing, and have been F. Ryan, P. A. B. Widener Thomas Dolan and the estates
pretty sure forerunner of a larger movefor several months now. This is a
'William L. Elkins have paid to
ment of freight. Our equipment which has been idle—and there has been of William C. Whitney and
a good deal of It of course—is being put into condition for service. Seed- the company $692,293, being the full sum received by them
ing conditions are exceptionally good in the territory along the St. Paul's
($965,607) paid by the Metroextension, as well as on the old lines. In Minnesota and the Dakotas con- out of the purchase money
ditions are especially favorable, and they are good through Washington and politan Securities Co. to Anthony N. Brady for the bonds
Idaho, and in Kansas too. Where there is winter wheat the plant is lookand stock of the Wall & Cortla,ndt Street Ferries Ry., the
ing promising.
The St. Paul is building several branch lines along the extension to the balance, to which the Metropolitan Securities Co. has never
Pacific Coast. Work is well along on a branch from St. Manes, Idaho,
been retained, it is stated, by Mr.
into the white-pine territory, about 70 miles, and another branch about 40 made any claim, having
miles long is being built along the Columbia. There are several other Brady.
branch lines also under construction, making a total of about 200 miles
of new branch lines. All of these tap districts which are already developed,
and will serve as feeders to the new line.
1111)Ve propose to open the Pacific Coast extension to freight traffic on July 1.
We will begin passenger service at the same time to accommodate local
passenger traffic, but some time will be allowed to go by before we place
expedited passenger trains in service.—V. 88, p. 882, 748.
It is claimed that so much of the purchase money as was received by
Messrs. Whitney, Ryan, Widener, Elkins and Dolan represented advances
which had been made by them on behalf of the Metropolitan Street Ry.,
on the understanding that they were to be repaid, and that each received
through the payment to Mr. Brady the exact amount advanced by him
with Interest and no more.
The Securities Company has accepted the amount actually received by
the defendants, and waives Its claim to recover Interest thereon, In order
not to "Incur the delay and hazard of a protracted litigation over disputed
questions of tact and law," the defendants reserving the right to enforce
repayment from the street railway for the advances claimed to be made for
Its benefit. A lengthy statement is given in the New York "Sun" of April 8.
—V.87. D. 813
.
Colorado & Northwestern Ry.—Sold--Successor Company.
—At the foreclosure sale in Boulder, Col., on March 29 the
property was bid in by the bondholders' reorganization
committee. The successor company, the Denver Boulder
& Western RR. Co., was to take possession on April 1.—
Mexican Railway.—Offering of .£500,000 Second DebenV. 88, p. 504•
tures.—Glyn, Mills, Currie & Co. in London,from March 24
2
niCuba RR.—Subsidy for Extension.—A press dispatch to 27,received applications at 923/ 0 for £500,000 of a new
from Havana mays: "President Gomez on March 25 signed issue of £1,000,000 43i% second debenturca of £100 each,
APR. 10 1909.]
due in December 1960 unless previously redeemed, (as it is
intended they shall be) by a cumulative sinking fund beginning Dec. 31 1909. The debentures may be called at par
for the sinking fund after March 11912; and on any April 1
after 1915 all or any part may be redeemed at par on 6 months
notice. Interest payable Oct. 1 and April 1.
The debentures will be secured by a trust deed charging them by way of
second charge on all the property and revenues already mortgaged as security for the £2,000,000 6% perpetual debenture stock. Application is
being made to the Mexican Government for leave to charge or hypothecate
the Pachuca Branch, a standard-gauge line 28 miles in length, and the
Atlamaxac Railway, a 2-ft.-gauge line about 29 miles in length, recently
purchased for about £35,000, and, subject to this leave being obtained,
the debentures will be further secured by a ihst charge on the Pachuca
Branch and the Atlamaxac Railway.
The proceeds of the present issue (underwritten by Cazenove ec Akroyds
for a cash commission of 2% and a brokerage of %%) are intended to be
applied to the acquisition and extension of tributary lines (including the
Atiamaxac Railway), the reconstruction of certain sections of the company's
existing line and bridges, additions to rolling stock and general purposes.
The balance of the sesond debentures, £500,000, will be reserVed for
future issue to meet the cost of further extensions, improvements, etc.
Earnings for Calendar Years (Excluding Profits from Pier and Launch Sold
to Vera Cruz Terminal).
1904.
1905.
1906.
1908 (p'tly est.). 1907.
Gross receipts
£755,305 £823,367 £735,425 1640,444 1578,126
330,611
382,958
395,175
470,893
Operating expenses_ 462,222
247,515
257,486
340,250
Net revenue
352,474
293,083
Interest on £2,000,000 6% perpetual debenture stock calls for 1120,000:
interest and sinking fund on present issue of 1500,000 second debentures
for not over £25,500. Share capital issued:8% first preferred, £2,554,100;
6% second preferred, £1,011,960; ordinary, £2,254,720.
-The directors have declared a dividend at the
Dividend.
rate of 6% 0 per annum on the first preference stock for
-year making 7 3-16% for the year 1908. Last
the late hall
year at this time they declared a distribution at the rate of
8% per annum on first preference stock, making 8% for year,
and 5% per annum on second preference stock, making
-V. 87, p. 1420.
4
53 % for year.
-Debentures for Refunding, &c.
Michigan Central RR.
The directors on April 7 authorized an issue of $25,000,000
4 0 20-year debentures, of which it is proposed to sell $10,0 0,000 in the near future, probably within a month or two,
to provide for advances made to the Detroit River Tunnel Co.
A part of the proceeds of the remaining $15,000,000 debentures will be used to retire the $10,000,000 of 5% notes
which mature next February. The new debentures will
be dated April 1, 1909. A new divisional mortgage
will be issued on the Grand River Valley RR. to provide
for the $1,500,000 6% bonds falling due on Sept. 1 next,
and extensive improvements to be made thereon, the details
-V.88, p. 767, 742, 375.
of which are now being perfected.
-The New
National Railways of Mexico.
-On Unlisted.
York Stock Exchange has admitted to quotation in the unlisted department the prior lien 432% bonds, guaranteed
general mortgage 4% bonds and nominative stock certificates
for 4% first preferred stock and 5% second preferred stock.
V. 88, p. 823, 452.
-New President
New England Investment & Security Co.
-Proposed Separation from New York New Haven & Hart-.As one step in the legal separation of the New
ford System.
York New Haven & Hartford RR. from its control of the
Massachusetts trolley properties, as required by the action of
the Massachusetts Legislature, Charles S. Mellen, President
of the N. Y. N. H. & Hartford RR. retired on April 3 as
President and trustee of this company and was succeeded in
both positions by Lucius S. Storrs of Springfield.
A press dispatch to the "Hartford (Conn.) Courant" from
Boston on April 4 said:
By Mr. Mellen's retirement the last director of the New Haven road severs
his connection with this trolley holding company. Absolute legal separation
of the New Haven road and the trolley properties in Massachusetts will be
completed before May 1. Notes for bonds to an amount of somewhere
in the vicinity of $15,000,000 in the treasuries of subsidiary companies to
the New Haven and in the treasury of the New Haven road itself will be
made negotiable and disposed of to persons of companies not legally connected with the New Haven road or its subsidiary companies.
Mr. Storrs is now in active control of all the so-called New Haven trolley
companies. He is President of the Springfield Street By. and of 15 other
trolley companies held by the New England company.
The present board of trustees of the New England Investment & Security
Co. consists of the following: President, Lucius S. Storrs; Lawrence Minot of
Boston; Henry L. Higginson of Lee, Higginson & Co., Boston; Gordon
Abbott, President of Old Colony Trust Co. Boston; A. G. Bullock of Worces'
ter, President of State Mutual Life Insurance Co.; A. Willard Damon of
Springfield, President of Springfield Fire & Marine Insurance Co., and
Bently W. Warren of Boston. Compare V. 88, p. 624, 506.
-The only road
New York City Ry.-Receiver's Sale.
owned by this company, the lessee of the Metropolitan
Street Ry., 1.57 miles in length, formerly the old North
Mount Morris RR., was sold tit auction by Receiver Ladd
on April 8 and bid in by John Johnston of Brooklyn for
$500, the purchaser assuming about $25,000 of franchise
taxes and assessments, which he agreed to pay. See table
"Track Operated" under "Annual Reports" on a preceding
-V.87, p. 813.
page.
-See New England
New York New Haven & Hartford RR.
-V.88, p. 749, 625.
Investment & Securities Co. above.
-First Preferred All Placed.
New York State Railways.
0
More than 85% of the entire issue of $3,862,500 of 57
cumulative first preferred stock having already been disposed of to investors (V. 88, p. 53), Hodenpyl, Walbridge & Co., 7 Wall St., purchased the remainder, and in
six hours on April 2 sold at slightly below par ($100 a share)
the entire block.
Quarterly dividends accrue from April 1 1909. Transfer office, Grand
Central Station, New York. Registrar, Guaranty Trust Co. of New York.
The New York State Railways owns, controls and operates electric street
railways and interurban lines allied with the New York Central & Hudson
River RR. Co. The directors are: Horace E. Andrews. Pres.; William
-P.; William C. Brown
-P.; Walter N. Kernan, V.
K. Vanderbilt Jr., V.
'
John Carstensen, Granger A. Hollister, Albert H. Harris, Alexander M.
V. W. Romiter.
Lindsay and N.
945
THE CHRONICLE
Letter from President Horace E. Andrews, March 27 1909.
The New York State Railways has been formed by the consolidation of the
Rochester Railway Co.. the Rochester & Sodus Bay By. Co. and the
-Ed.) The
Rochester & Eastern Rapid Ry. Co. (per plan in V. 88, p. 53
company also owns:
Aggregating
Amt. Owned.
Of the Capital Stock ofthereof $2,050,000
50%
'Schenectady Railway Co
7,500,000
thereof
100%
Utica ec Mohawk Valley By. Co
1,922,700
96.13% thereof
Oneida Railway Co
2.317,500
Syracuse Rapid Transit By. Co
57.94% thereof
• Balance owned by the Delaware & Hudson Co.
Mileage of the Several Companies Owned and Operated.
New York State Itallways
199.55
Utica & Mohawk Valley Railway Co
123.976
Syracuse Rapid Transit By. Co. and East Side Traction Co
87.35
Oneida By. Co.(operating under trackage agreement over West Shore
RR. between Utica and Syracuse)
113.22$
Schenectady By. Co.(owned jointly with Del. & Hudson Co.)
110.20
Total
634.299
The territory served is constantly increasing in population and wealth,
and includes such important and growing centers as Rochestu, Syracuse,
Utica, Schenectady. with interurban lines running from the various cities.
The population tributary to these lines is conservatively estimated at 800,000. The franchises are unlimited in point of time, with the exception
of a few minor extensions which are operated under 50
-year franchises.
Capital Stock.
First preferred stock (5% cumulative)
$3,862,500
Second preferred stock
4,500,000
Common stock
14.777,700
Earnings for the Twelve Months ending Feb. 28 1909.
For the 12 months ended Feb. 28 1909 the net earnings available for
dividends, after deducting all expenses and first charges, were $922,000 33.
equal to 23.87% on the first preferred stock.
Rights of First Preferred Stock.
The first preferred stock is entitled to receive yearly dividends at the
rate of 5% per annum, payable quarterly; the dividends are cumulative
and payable before any dividends on the second preferred or common stocks
are paid or set apart, and is preferred also as to assets. The first preferred
stock may be increased as provided by statute, but only with the consent
of the owners of two-thirds of the first preferred stock issued and then
outstanding, and if so increased the then owners of the first preferred stock
shall have the first right to subscribe for the whole of such increase in proportion to their holdings. The first preferred stock is redeemable at the
option of the company upon any dividend date after 30 days' notice to stockholders at $110 per share, plus accrued dividends.
Further provision is made that, except with the consent of the holders
of two-thirds of the first preferred stock, the bond issue shall be limited,
and that no part thereof exceeding $5,000,000 except for refunding existing
mortgage bonds, shall be issued unless the net income of the New York
State Railways (including the proportion of net income of subsidiary companies to which the New York State Railways is entitled by reason of stock
ownership) shall have annually equaled at least 134 times the amount of
the dividend charge on the first preferred stock in each of the two years
immediately preceding the issue of such additional bonds after first deducting all charges plus the interest on any additional bonds desired to be
issued.
The first preferred stock has back of It the entire investment of the New
York Central & Hudson River RR. Co. and the Central Railways Syndicate, not only in the companies forming by consolidation the New York
State Railways, but also in the Schenectady Railway Co.. Utica ec Mohawk
Valley Railway Co. Oneida By. Co. and Syracuse Rapid Transit Railway
by
Co. as represented ' the second preferred and common capital stock of the
company.
Application will be made to list the first preferred stock on the New
York Stock Exchange.
-CALENDAR YEARS 1908 AND 1907.
NET FOR DIVIDENDS
(Being balance available for dividends for each year after deducting
expenses and first charges, showing the proportion applicable to the stock
of the companies entering into the consolidation or owned by the consolidated company.)
1908.
1907.
Companies merged in New York State Rys. Co.Rochester & Eastern Rapid Ry. Co., deficit__ def$3,541 def$16,794
445,151
566,857
Rochester Railway Co.. surplus
36,128
Rochester & Sodus Bay Ry. Co., surplus
39.060
Total surplus from year's operations
N. Y. State Railways Co. proportion of net
earnings available for dividends on account
of stock ownership in
100%
Utica & Mohawk Valley Ry. Co
96.13%
Oneida Railway Co
Syracuse Rap. Transit Ry. Co., pref.. _28.85%
Syracuse Rap. Transit By. Co., com_ _72.01%,
50%
Schenectady Ry. Co
$477.739
$589,123
$250,008
56,607
20,249
65,527
72,466
$260,653
78,338
20,249
89,239
91,228
$539,707
$646,857
Interest in surplus of sub-companies
$942,595 91,128,830
Total surplus and interest in surplus
Equal to 24.40% in 1908 and 29.22% in 1907 on $3,862,500 first preferred
-V. 88, p. 823, 886.
capital stock.
-See editorial
Northern Pacific Ry.-Spokane Rate Case.
on page 856 in last week's "Chronicle."
-A decision was rendered by
Decision in Land Grant Suit.
the Federal Court for the District of Montana on April 3 in
favor of the Government in the suit against the company,
the Rocky Ford Coal Co. and the Northwestern Improvement
Co. to cancel patents issued for 1,120 acres of land in the
Mount Rainier National Park.
Under Section 3 of the Act of March 2 1899. creating the National Park, it
was provided that the Northern Pacific might deed to the Government
any lands held by It within the park or the Pacific forest reserve, and
select in lieu thereof an equal amount of non-mineral public lands. It
subsequently developed that the lands received by the company in exchange, originally classified as non-mineral lands, were valuable coal lands;
-V,88, p. 295.
hence the suit,
-Bonds Called.
-Four ($4,000) first
Pennsylvania RR.
mortgage bonds issued by the Bald Eagle Valley RR. dated
Jan. 11880, numbered 58, 108, 179 and 191, have been drawn
for redemption on May 1 at par and interest at the office of
-V. 88, p.
the Fidelity Trust Co., Philadelphia, trustee.
824, 686.
Philadelphia Rapid Transit Co.-I./is/ed.-The Philadelphia Stock Exchange has listed $2,500,000 collateral trust
5% gold bonds due Feb. 1 1957 and also $10,000,000 Market
Street Elevated Passenger Ry. 1st M. 4% gold bonds due
May 1 1955.-V. 88, p. 625.
-Debt Limit Decision in
Rapid Transit in New York City.
-See
Fourth Avenue, Brooklyn (Subway) Injunction Suit.
"New York City" in "State and City Department" on a
-V. 88, p. 749, 687.
subsequent page.
-New Stock,
Rio de Janeiro Tramway, Light & Power Co.
-The shareholders will vote May 3 on increasing the
&c.
capital stock from $25,000,000 to $40,000,000. Of the new
stock only $6,250,000 will be issued at present, and this
amount, having already been underwritten at par, will be
offered to shareholders of record to the extent of one new
946
share for every four shares now held. The company recently
parchased control of the Ferro Carril de Jardin Botanico,
and it is supposed will finance the purchase with a portion of
the proceeds of this $6,250,000 stock. The circular accompanying the notice calling the meeting says in substance:
From the proceeds of this issue of $6,250,000 new stock,it will be possible
to complete the work which is now in progress in Rio in the way of reconstructing and electrifying the tramways; also construction of gas and other
works, without the issue of further second mortgage bonds.
Earnings for Years ending Dec. 31.
1907.
1908.
1906.
$7,138,232 $6,286,200 $5,340,779
Gross earnings
2.730,550 2,127,726 1,462,630
Net earnings
The total earningsfor the past year, considering the company was in the
construction stage, are very satisfactory, and by the end of this year it is
estimated that the company should have a net income of a.. least 1750.000
per annum after deduction of taxes and other charges in Rio with which
to meet fixed charges of approximately 1440,000. The operating expenses
for 1907 were 66.16% and 61.75% in 1908. When all the construction
work is finished and the new gas works installed, it is confidently expected
that this percentage will be reduced to at least 45%.--V. 88, p. 883.
Rock Island Company.—New President.—Richard A.
Jackson, First Vice-President and General Solicitor of the
Chicago Rock Island & Pacific Ry. Co. for the last five years,
with headquarters in Chicago, has been elected President of
the Rock Island Company to succeed Robert Mather, who
was made Chairman of the board of the Westinghouse Electric & Manufacturing Co. at the recent reorganization of that
company.—V. 87, p. 1480.
St. Louis Electric Bridge Co., Venice, Ill.—Increase of
Capital.—The company has filed a certificate increasing its
capital stock from $2,500 to $1,000,000.—V. 85, p. 100.
Santa Fe Raton & Des Moines RR.—See Santa Fe Liberal
& Englewood RR. in V. 88, p. 884.—V. 88, p.625.
Santa Fe Raton & Eastern RR.—See Santa Fe Liberal &
Englewood RR. in V. 88, p. 884, 749, 625.
Second Avenue RR., New York.—November Coupons
Being Paid.—The Guaranty Trust Co. of New York, which
last November offered to purchase the coupons due Nov. 1
1908 on the $1,280,000 of first mortgage bonds (the old
general consols), is now paying the November coupons on
presentation for the receivers. Compare,V. 87, p. 1238, 1301.
Sixth Avenue RR., New York.—Dividend Withheld.—The
quarterly dividend of 13 % due in April 1909, guaranteed
4
under 800-year lease by the Metropolitan Street Ry., will not
be paid at present. President Frank Curtiss says: •
"Because of the unsettled state of affairs of the lessee company and the
fact that certain franchise taxes imposed on its companies' property have
not been paid by the lessee company, which taxes are in litigation, your
directors have decided it wise not to made the usual dividend at present."—
V. 86, p. 109, 53.
Southern Pacific Co.—New Stock for Conversion Purposes.
—The stockholders on April 7 voted to authorize an increase
of the common stock by $100,000,000, of which so much as
necessary will be set aside to provide for an issue of 4% 20year bonds, convertible until June 1 1919 at the option of
the holder into common stock at the rate of 130 per share.
See plan in V. 88, p. 507.
Union Street Railway of New Bedford.—New Securities.—
The Massachusetts Railroad Commission has been asked to
sanction the issue of $225,000 additional stock at $140 per
share, also $100,000 additional bonds, to provide for improvements and for floating debt incurred for extensions and
equipment.—V. 75, p. 1088.
Washington Railway & Electric Co.—Report.—For calendar year:
Calendar
Year—
[VOL. Lxxxvux
THE CHRONICLE
Cross
Net
Other
Fixed
Divs.on Pl. Bal.,
INDUSTRIAL GAS AND MISCELLANEOUS.
American Graphophone Co.—Injunction.—Judge Lacombe
in the United States Circuit Court in this city on March 30
issued an injunction restraining the Talk-O-Phone Company
from manufacturing or selling sound-recording devices in
violation of a patent issued to Joseph W. Jones and Joseph
A. Vincent on Dec. 10 1901, and now controlled by the
Graphophone Co.
The order directs that there shall be an accounting of all
damages to the complainant for goods heretofore manufacturedprofits and
by the
fendant company. The. patent, we are informed, "covers all disc deor
fiat records now on the market."—V. 88, p. 453, 292.
American Light & Traction Co.—Dividend Policy.—The
directors on April 6 voted to adopt the recommendation of
the executive committee that a stock dividend of 10% be
declared annually on Nov. 1, if earnings warrant.
New Officers.—L. P. Lathrop has been elected President,
to succeed Emerson McMillin, who becomes Chairman of the
board (a new office); J. M. McCarthy, Vice-President and
Treasurer, to succeed L. P. Lathrop, and Marion McMillin,
Vice-President and Assistant Secretary.—V. 88, p. 824, 229.
Arlington"!Mills, Boston.—New Stock.—The stockholders
voted on April 7 to increase the capital stock from $6,000,000
to $8,000,000 by the issue of 20,000 additional shares for
cash at par.
A circular said: "The steadily increasing demand for the products of
the corporation makes it desirable that a new mill for the spinning of
worsted yarn should be built upon land now belonging to the corporation.
Such a mill will cost about $1,000,000 and the other million of the proposed
increase will be added to our working capital."
Shareholders of record April 7 are offered the right to subscribe at par
($100 per share) on or before May 15 at the New England Trust Co., Boston,
for the $2,000,000 new stock in the proportion of one new share for every
three shares of their respective holdings. Subscriptions are payable at
said trust company, $50 Oct. 15 1909 (entitled to 4% interest to Jan. 1
1910) and the remainder Jan. 15 1910; installments may be anticipated,
with right to receive 4% per annum until Jan. 1 1910 on amount paid. The
new stock certificates will be issued by tile trust company as soon as possible
after Jan. 15 1910 and will be entitled to any dividend declared after
Jan. 1 1910.—V. 84, p. 273.
Arnold Print Works, North Adams, Mass.—Officers.—
The following permanent directors were recently announced:
Robert F. Herrick, President; James Thomson, Treasurer; N. C. Barnhart, Simeon B. Chase, W. Murray Crane, W. A. Gant), A. C. Houghton,
Charles W. Jones, Edwin C. Merrill.
Bonds.—The mortgage made to the City Trust Co. of Boston, as trustee, secures $3,650,000 first mortgage 6s dated
Dec. 1908 and due Dec. 11913, but redeemable any interest
date at par and accrued interest. Interest J. & D. at City
Trust Co. Denominations,$100,$500,$1,000 gold. Present
issue $3,509,800. Compare V. 87, p. 348, 478.—V. 88,
p. 160.
Binghamton (N. Y.) Light, Heat & Power 0o.—Report,—
For year ending Dec. 31:
Calendar
Year—
-
Oross
Earns.
150,834
5140,952
19v. 87, p. 1161.
—08
1907
Oper.
Exp'ses.
$78.739
72,027
Net
Earns.
$88:995
72 02
interest
Charges.
$29:264
32 696
Balance,
Surplus.
$39,428
39,631
(A.) Booth & Co.—Offer Stands Till April 20.—It seems
that the offer of P. A. Valentine to provide $1,000,000 "in
cash and concessions in stock" in connection with a reorganization of the property was made conditional upon the
acceptance of the reorganization scheme by the creditors of
the company. Compare V. 88, p. 885.
Clinchfield Coal Corporation.—See Carolina Clinchfield
& Ohio Ry. under "Railroads" above.—V. 8,3, p. 157.
Cuyahoga Telephone Co., Cleveland.—New Officers.—William L. Ross of Cleveland has been elected Treasurer to succeed H.B.Taylor, who resigned. On Feb.23 E. G. Tillotson,
previously Vice-President of the Cleveland Trust Co., was
elected President of the Cuyahoga ,Co. and Chairman of the
board of directors of the United States Telephone Co. The
Cuyahoga board now includes:
B. Mahler,
Bascom Little, E. W. Moore, H. A. Everett,H. Bauer, J. S. Bracy Jr.,
W. L. Rice, E. G. Tillotson, Chas. A. Otis, A. Tillotson M. C. Harvey and
and Otis are new
Norman C. McLoud. Messrs. Little, Rice, as
members. [Mr. Tillotson succeeded Mr. Bralley President of the Cuyahoga Co. Mr. Bralley remains President of the United States Telephone
Co. See that company below.1—V. 88. P. 628.
Denver Union Water Co.—Appraisal on Proposed Purchase by City.—See item in "State and City," Department,
under caption of Denver, on another page, and V.85, p. 1145.
Dering Coal Co.—Delault—Deposits.—This company, for
which a receiver was appointed on March 4 1909 by the
United States Circuit Court sitting in Chicago, made default
on April 1 in the payment of the interest and sinking fund
installment then due on the $5,000,000 bond issue. , Bondholders are invited to deposit their bonds with the American Trust & Savings Bank, 125 Monroe St., Chicago, as
,
depositary, by the following committee:,
Wm. J. Hanley, Samuel McRoberts, John A. Spoor, Edwin A. Potter,
Walter S. Bogle, with W. P. Kopf as Secretary, and Mayer, Mayer & Austrian as counsel.—V. 88, p. 628.
Draper Co., Hopedalb, Mass.--Dividehd Incteased.—The
company on April 2 paid a quarterly dividend'of 3%'on the
$6,000,000 common stock, comparing with'2% quarterly in
..r n uar Dividhe t e ckli,
Jan. and Oct, last, Aetto lingt endsRocord i,o 12%
April 2 1909. 1908. 1907. 1906. 1905. 1904. 1003.. 1902. 1901.
9% 12% 17% 12%, 12%, 42% 15%• 17
3% (guar.)
• And 50% stock.—Compare V. 87, P• 42.
General Railway Signal Co.—Report.--POr calendar yegrs:
Earnings. Earnings. Income. Charges.Stk.(5%). Sur.
$3,720,573 $1,864,402.$37,525 $1,177,491 $425,000 $299,436
1908
3.385,749 1,636,996 42,353 1,107,228 425,000 147,121
1907
—V. 87, p. 40.
West EndIStreet Ry. Boston.—Stockholders to Vote on,
Modified Plan Approved by Their Committee.—The share'
holders will vote April 14 on a modified plan approved both
by the directors and the stockholders' committee for the sale
of the road to Boston Elev. Ry. Co. The committee says:
Since the issue of our reporc, of March 25, we have conferred with the
directors, who have called a special meeting of tho stockholders for Apr1114,
notice of which has been mailed to you. We understand that the directors
are entirely in accord with the plan of consolidation set forth in the abovementioned report, and that as soon as they receive authority from the stockbolders' meeting,they will seek the necessary permission of the Leigslature.
The directors have therefore sent out no request for proxies, inasmuch as
those sent to the committee will be voted in favor of the above-mentioned
plan. Proxies sent to us will be voted in favor of requesting the directors
to apply to the Leigslature for an Act which will permit the consolidation of
the West End and the Elevated in accordance with the plan described in
our report of March 25. The substance of this plan is: (1) Better security
for both classes of Elevated preferred stock, which are to be exchanged for
West End preferred and common stock;(2) 8% dividends oil both classes of
stock from the date of consolidation; and (3) the distribution of the so,called
"free assets "(some $1,317,000) among the holders of West End preferred
and common stocks. The proxies will be used for no ocher purpose.—
V. 88, p. 824. 453.
Wheeling Traction Co.—To Authorize Sale of Stock.—The
shareholders will vote May 1 on authorizing the sale at
less than par of the capital stock now remaining unsold,
amounting to 1,523 shares ($152,300).—V. 84, p. 1369.
Wichita Falls Ry.—Merger—Bill Vetoed.—Gov. Campbell
'ef Texas on April 2 vetoed the bill authorizing this company
to purchase the Wichita Falls & Northwestern Ry. and the
Wichita Falls & Southern Ry., his reason being that he
believes that "the consolidation of railways in this State
Liagainst a sound public policy." Compare V. 88, p. 884.
'Divs. on
Balance,
Int.,Dep::
Net
Calendar
Deficit.
Pref. Stock.
&c.
Eagittus. Earnings.
G ss
11,3 Wichita Falls & Northwestern,Ry.—See Wichiita Falls Ry. Year—
$66,447 (3%)160,000 $79,103
$260,663 $47,344
1908
below.—V. 88, p. 884.
(6% 120,000116.138
1453,073 212,873 *209,011$1021458.—V. 88, D. 103.
1907
pi;Wichita kalls & Southern Ry.—See _Wichita Falls Ry. • Includes movineand extraordinary expenses,
I.
above.—V. 88, p. 884.
For other Investment News see page 948' ' .!;,,
.•
947
THE CHRONICLE
APR, 10 1909.]
ports anti Pocuutentse
SLOSS-SHEFFIELD STEEL & IRON COMPANY.
NINTH ANNUAL REPORT—FOR THE FISCAL YEAR ENDED NOVEMBER 30 1908.
PRESIDENT'S REPORT.
The last fiscal year of your company, which ended November 30th 1908, opened with a discouraging, gloomy outlook,
following close upon the heels of the acute panic of the
preceding October, and serious fears were entertained of
a demoralization in the steel and iron trade that might prove
disastrous to many. The reaction from the prosperity which
it had enjoyed was speedy and most violent, and so great
was the cancellation and postponement of orders for the
shipment of iron previously bought, with no new business
offering, that furnaces were put out of blast, and very soon
the production of iron was reduced over 50%. As emphasizing the great depression in the iron trade, it may be
stated that so far as can be recalled, this was the first time
that this company, or its predecessor, the Sloss Iron &
Steel Company, in a period of twenty years, had ever felt
it best to put a furnace out of blast owing to the state of
the iron market.
We began the year with an accumulation of over forty
thousand tons of iron in our furnace yards, and, notwithstanding that four of the seven furnaces were idle, our make
for the first quarter exceeded our shipments by over thirtythree thousand tons.
In pursuance of the policy adopted generally by the
furnace companies throughout the country, to endeavor to
limit production to about the consumptive demand, your
company closed down three of its furnaces the last of November 1907, to be followed by a fourth a little later, and they
remained idle for about six months. Notwithstanding
that such a large percentage of our furnace capacity was
idle for so long a period, we produced within less than
fifteen thousand tons as much iron as our output in the
previous year, which is accounted for by the improved
railroad transportation of raw material, more efficient
labor, which had become greatly demoralized prior to
the panic, and the good condition of the furnages. The production of the country shows a falling off of over ten million
tons as compared with 1907, or, in round figures, of about
40% of the previous year's make, while your company
showed a decrease of less than 5%.
The railroads very quickly felt the falling off of business
and promptly reduced the number of both passenger and
freight trains, which, of course, curtailed very materially the
consumption of coal, causing a reduction in revenue to your
company from that source.
During the latter part of the second quarter there was
some improvement in the demand for iron, and the fires were
lighted in the fourth furnace, but it was well into the fourth
quarter before WO felt justified by the prospects ahead of us in
starting up a fifth furnace. The year cloSed with 71% of your
furnace capacity at work, one furnace still remaining idle,
while another was undergoing extensive repairs.
Considering how discouraging the outlook for business
and consequent earnings was at the beginning of the year, and
for some months afterwards, we have reason to be gratified at
the financial results of operation for the year. The net profits
showed a marked increase each quarter over the preceding
one, and after providing for your bond interest, full 7% on
preferred stock, and at a rate of 5% for the first quarter, and
4% for the remaining three quarters on the common stock,
making a liberal allowance for depreciation and charging off a
considerable sum which had accrued at the idle furnaces and
mines for salaries, repairs, &c., while they were producing
nothing against which it could be charged,there was a surplus
left of $69,960, with the company entirely free from floating
debt.
The average price at which iron was delivered during the
year was $3 93 per ton lower than in 1907, which alone caused
a reduction in profits of over one and a quarter million dollars.
Working capital, with all inventories made up at the cost
of,production, now stands at $2,035,562, an increase for the
year of $143,000. Profit and loss account at the end of the
year stood at $3,216,000, a gain for the year.
BLAST FURNACES.
2 and 3 furnaces had been put out of blast a few
days before the close of the previous fiscal year, November
1907. Nos. 1 and 2 were started up again in May and remained in blast throughout the remainder of the year.
No. 3 furnace remained idle the balance of the year, and is
now undergoing extensive repairs, including the erection
of three new stoves, new bosh jacket, cooling plate, &c., at
an estimated cost of $120,000.
Reference was made in the last annual report to the
repairs and additions which were being made to No. 4
,furnace. These were completed late in the previous year,
but owing to the condition of the iron market, the furnace
was not put in blast until February of last year. It continued in blast throughout the rest of the year.
Nog. I ,
The Philadelphia furnace was put out of commission late
in April of the fiscal year with a view of decreasing our
production, and remained idle throughout the year. A
new blowing engine was added to the equipment during
the year.
The Hattie Ensley furnace was in blast continuously
throughout the year, and made an unusually good record.
The Lady Ensley furnace was at work throughout the year,
except for four months, when its top was being relined.
With the exception of No. 3 furnace, which, as has been
stated, is undergoing repairs, all of your furnaces are in good
working condition. The fact that with only 57% of your
furnace capacity in blast during the year, you produced
within fifteen thousand tons as much iron as was produced
in the previous year, should be taken as some evidence of
this. The time furnaces were out of blast during the year
aggregated over 36 months, or equal to three furnaces
for a year.
COAL MINES.
Another adverse condition with which your company, in
common with others of the State, had to contend during the
past year, was a strike among its coal miners, which, while
lasting but about two months, was fierce, and many outrages
were committed, and proved expensive to both sides.
All but one of the furnace companies of the district, including yours, had, after a contest lasting over two years,
succeeded in placing their mines on a non-union basis, and
for two years conditions had been satisfactory to both
operators and miners. The operators of commercial coal
mines, however, had continued to make contracts with the
United Mine Workers. The demands of the Union becoming
too burdensome, the commercial operators, almost without
exception, declined to renew the contracts last July, and a
general strike was ordered, many of the men from the
furnace companies' mines joining in the strike, some of
them through fear of bodily harm. New men had to be
brought in to take the places of the strikers, which took
time and money. The strike was declared off in September,
and now about 95% of the mines of the State are working
on the open-shop basis. We suceeded in keeping in blast
such of our furnaces as were working when the strike was
ordered.
Your coal mines have a producing capacity in excess of all
the requirements for company purposes and for filling contracts with the railroads for steam coal, and notwithstanding
several of our mines were closed down when the furnaces
were put out of blast, the first of the year, and not re-opened
until September, there not being a sufficient demand for
coal to justify our running them, and a two months' strike,
the output was not greatly below that of 1907, and in excess
of the 1906 output.
No important new work was undertaken at any of your
coal mines during the past year, as large sums had been
expended in improvements at your principal mines during
the two previous years. Such improvements as were made
were generally charged off on the cost sheets. There was a
material reduction in the average cost of the coal produced
last year as compared with the cost of the previous year.
ORE MINES.
Irondale ore mine and No. 2 slope of Sloss mines were
closed down just a day or two before the close of the previous
fiscal year, as so many furnaces being stopped, and the stock
houses full, we could make no use of the ore. No. 2 slope
of Sloss mines was reopened in February, butthe Irondale
mine remained closed down until October, or two months
before,the close of the fiscal year.
Since the first of this year we have begun work on another
slope at Irondale mine, which will probably be producing
some ore in the next ninety days. The ore from this mine
is proving very satisfactory, both as to quality and cost of
production.
A long drouth, lasting ninety days, caused a shortage of
water at your Russellville brown ore mines, and we were
forced for a considerable time to suspend operation of three
of the large washers; but we were not greatly inconvenienced,
as our stock houses were well filled, and,some of ourfurnaces
being idle, we had other sources from which to draw orc.
The production of brown ore for the year, notwithstanding
the enforced stoppage of the washers as mentioned, shoNys
an increase of forty-three thousand tons over 1907, with a
decrease in cost of twenty cents a ton.
For more detailed information you are referred to the
usual annual statements annexed hereto.
All of which is respectfully submitted, by order of the
Board of Directors.
J. C. MABEN,
President
Birmingham, Ala., March 1909
THE CHRONICLE
948
BALANCE SHEET.
SLOSS-SHEFFIELD STEEL & IRON COMPANY; FISCAL YEAR
ENDING NOVEMBER 30 1908.
[VOL.
Brought forward
Deductions
General Expense not charged in Cost Sheets_ _ _ _
Taxes and License
$1,385,740 39
$56,186 97
55.593 64
111,780 61
Resources.
Property Aceount
Treasury Securities
Stocks and Bonds of other Companies
Cash, Bills and Accounts Receivable
Supplies, Raw and Finished Material at cost
Stocks in Company's stores and warehouses at cost
Extraordinary Repair and Renewal Fund
Insurance and Taxes unexpired
$21,625,805 50
244,218 11
392,557 17
1,707,141 05
251,731 47
79,081 98
190,665 44
6,017 35
$24,497,218 07
Slois Iron 6) Steel Company:
Mortgage 6% Bonds, 1920
Mortgage 4% Bonds. 1918
Current Accounts
Bills Payable and Loans
Pay Rolls (current month)
Profit and Loss
Year's Bond Interest
Surplus for 1908
Dividends Paid :
On Preferred Stock
On Common Stock
$963,959 75
$469,000 00
425,000 00
894,000 00
Year's Surplus after Dividends
Surplus, November 30 1907, after adjustment
Surplus, November 30 1908
Liabilities.
Capital Stook, Preferred
Capital Stock, Common
41,173,959 75
210,000 00
$69,959 75
3,146,386 17
$3,216,345 92
WORKING CAPITAL.
$6,700,000
10,000,000
$16,700.000 00
NOVEMBER 30 1908.
Cash, Bills and Accounts Receivable
$1,707,141 05
Raw and Finished Material on hand, at cost
137,870 58
$2,000,000
Merchand Ise and Supplies in Company's stores and ware2,000,000
houses at cdst
192,930 72
8,017 35
4,000,000 00 Insurance and Taxes unexpired
572,474 65
504,259 86 Treasury Securities, Stocks and Bonds, at market value_ __ _
000 00
$2,616,434 35
76,612 29
Contra
3,216,345 92
Pay Rolls and Accounts Payable (current
account)
$24,497,218 07
$" 87 15
geong
Bills Payable and Loans
580,872 15
STATEMENT SHOWING EARNINGS.
SLOSS-SHEFFIELD STEEL & IRON COMPANY, FOR FISCAL YEAR
ENDING NOVEMBER 30 1908.
Profit on Pig Iron shipped:
After charges against cost for depreciation on iron ore,
twenty-five cents ($0.25) per ton on iron for extraordinary repairs and renewals and thirty-five cents
($0.35) per ton profit on coke manufactured
Profit on coal after charge for depreciation
Profit on coke
Rents (after repairs). Royalties, Stores and other revenues_
Oro and Dolomite sales
Interest and Exchange
Balance Working Capital in Business
$2.035,562 20
COMPARATIVE STATEMENT SHOWING GROSS
RECEIPTS,EXPENDITURES AND NET SURPLUS.
FOR YEARS ENDING NOVEMBER 30 1907 AND 1908.
1907.
Changes.
1908.
$5,536,811 $6,654,303 Dec.$1,117,492
and
4,241,056 4,831,457 Dec. 590,401
Gross Sales and Earnings
Operating Expenses, Taxes
Maintenance
$889.651 92
99,19015
132,82940
141,683 81
388 29
21,99679
$1,285,74036
International Smelting & Refining Co.
-Officers.
-The
following officers are announced: President, John D. Ryan;
Vice-President, Dennis Sheedy and Secretary and Treasurer, J. W. Allen. Compare V.88,P.885; V. 87,P. 1666.
-Opportunity for Exchange.
Mergenthaler Linotype Co.
An English investor writes:
Whereas Mergenthaler Linotype shares only yield about 7% at present
market prim. International Linotype Co. shares can be bought on this
side to pay 10%. As the sole assets of the latter company consist of
shares in the former company, it would seem a good exchange for holders
of Mergenthaler shares to sell out and buy Internationals.
-V. 88, p.
689, 629.
Metropolitan Water Co. of Kansas City, Kan.
-Appraisal
-See "State and
-Municipal Election on Purchase of Plant.
Department" under caption of Kansas City, Kan., on
,City
-V. 87, P. 170.
another page.
-Dividend Not a ReducMexican Light & Power Co., Ltd.
-As stated last week,a dividend of 1% has
tion in the Rate.
been declared on the ordinary shares, payable on April 15
to shareholders of record on April 8. A Canadian paper
explains that while the dividend paid in January last was
made 1 WY. for "strategic purposes" and "to make the
return for 1908 approximate to the directors' estimates," the
present dividend should not be regarded as a rate reduction,
since there was no intention last January on the part of the
board of increasing the annual rate above 4%.-V. 88,
p. 886, 567. •
-Debentures Called.
Michigan State Telephone Co.
-The
$1,250,000 outstanding 3-year gold debentures of 1906 have
been called for payment May 1 at 101 and int.at the office of
the Guaranty Trust Co., New York. Regarding debentures
sold for refunding, &c., see V. 88, p. 629, 751.
National Glass Co., Pittsburgh.
-Sale of Rochester (Pa.)
Plants.
-A press dispatch from Rochester, Pa., Mar. 30 said:
Net Earnings
Fixed Charges
$1,295,755 $1,822,846 Dec. $527,091
210,000
210,000
Balance
Depreciation
$1,085,755 $1,612,846 Dec. $527,091
11,388
133,183 Dec.
121,795
Surplus
$963,960 $1,479,663 Dec. $515,703
Stockton (Cal.) Gas & Electric Corporation.
-Bond Offering.
-E. H. Rollins & Sons, Chicago, &c., have placed at
103 and interest, yielding about 53 %, the unsold portion
4
of the present issue of $750,000 1st M.6% bonds. Compare
V. 88, p. 886.
Union Iron Works Dry'Dock Co., San Francisco.
-Bond
Issue.
-See Bethlehem Steel Co. under "Annual Reports"
on a preceding page.
Union Oil Co. of California, Los Angeles.
-New Stock
-Shareholders of record of this company
Option to Subscribe.
the United Petroleum Co. and
and its affiliated concerns,
the Union Provident Co., are entitled to subscribe at 95 per
share,on or before April 14,for their pro rata share of a block
of $1,000,000 treasury stock of the Union Oil Co. Subscriptions are payable in four equal installments, April 15,
June 15, Aug. 15 and Oct. 15. A circular says:
It is the policy of Union Oil Co. management to extend equal subscription
privileges to stockholders of United Petroleum Co. and 'Union Provident
Co., and at the same time to safeguard the general interests of the latter
company; accordingly, each stockholder subscribing for more than four
shares of the treasury stock hereby offered will exchange, share for share,
one-half of the shares subscribed and purchased by him for shares of the
Union Provident Co., and pay into the treasury of the Union Provident
Co. 4 1-6 cents per share for each share so exchanged. This latter payment goes into a fund the interest upon which pays all the running expenses
of the Union Provident Co., insuring to the stockholders for all time the payment of the same dividends declared and paid to the stockholders of the
-V. 87, P
Union 011 Co. of California, without any deductions whatever.
551.
-Report.
-For cal. years:
Utah Consolidated Mining Co.
Previous
Dividends
Net
Total
Calendar
Total
Surplus.
Paid.
Profits.
YearProfits.
Surplus.
$326,312 $1,530,611
(40)$600,000 $1,256,952
1908
$1,914,141
1907
2,939,070 1,179,413 2,451,228 (140)2,100,000 1,530,641
share (par $5) paid in 1908, against
The dividends as above include $2 per
$7 in 1907. Copper bullion and supplies on hand Dec. 311908, $1,071,214,
against $1,205,131 in 1907. There were produced 10,648,240 lbs. line
copper, 265,284 oz. fine sliver and 23,440 oz. gold In 1908, against 13,987,390,296 oz. of silver and 34,555 oz. of gold in 1907.
551 lbs. of
A deal has been closed whereby the entire holdings of the company here, -V. 87, p.copper,
1483.
including the Keystone factory and Rochester Tumbler works, have been
-New Director.
-Edward A. Marsh
sold by the bondholders to the Ellwood City Glass Co. for $200,000.Waltham Watch Co.
V. 87, p. 1303.
Mass., has been elected a director to
New York & Queens Electric Light & Power Co.
-New
Bond Issue.-Proparations are in progress for the making of
a blanket mortgage for $25,000,000 to provide for financing
the company's capital requirements over a long period.
Of the new issue sufficient will no doubt be reserved to take
up the $2,350,000 underlying bonds. The present issue, it
is said, will be only $1,500,000.-V. 87, p. 170.
People's Gas Light & Coke Co. of Chicago.
-Dividend
7;
-The directors on April 6
Increased from 6% to 71 Basis.
4
declared a quarterly dividend of 13 %, payable May 25 to
holders of record May 1.
Dividend Record (Per Cent).
1909.
1903.
'94. '95. '96. '97-05. '06. '07. '08.
6
6 Feb.,1
5
May,1
4 A(1 A scrip) 8 24 1 A 6 y'ly
Compare V. 88, p. 454. 450, 689.
-See Santa Fe
Raton Water Works Co. of New Mexico.
Liberal & Englewood RR. in V. 88, p. 884.-V.81, P. 563.
-See Santa Fe
Raton Water Works Co. of New York.
Liberal & Englewood RR. in V. 88, p. 884.
-Report.
-----See "Annual
Rubber Goods Manufacturing Co.
Reports" on a preceding page.
New Director.-Secretary Samuel Norris has been elected a
-V.87, p. 1303.
director to succeed the late Chas. H. Dale.
-Bonds.
-See Bethlehem
San Francisco Dry Docks Co.
Steel Co. under "Annual Reports" on a preceding page.
V. 87, p. 1360.
of Newton,
-V.87, p. 1667.
late B. F. Brown.
succeed the
-Mellor & Petrey, members of the New York and Philadelphia stock exchanges, announce that Arthur T. Rush
has associated himself with their firm. Mr. Rush was formerly Assistant Treasurer and Assistant Secretary of the Bethlehem Steel Corporation. Mellor Sr, Petrey recently succeeded the old firm of Toland Bros. & Co., 104 South Fifth St.,
Philadelphia, and are doing an active business in stocks,
bonds and investment securities.
-Richard H.Swartwout of the banking firm of Swartwout
& Appenzellar, was elected a member of the New York Stock
Exchange on the 8th inst. The firm intends to add a stock
department to its present organization, which up to this time
has made a specialty of bonds and railroad notes.
-Newburger, Henderson & Loeb, members of New York
and Philadelphia stock exchanges, announce the opening this
week of their Atlantic City office at the Steel Pier Block,
which is opposite the famous Steel Pier.
-A circular on "Municipal Bonds," prepared by N. W.
Halsey & Co. of this city for gratuitous distribution to investors, conveys many interesting facts relative to the f“
lution of municipal indebtedness, a description of the s
of and market for issues of this character.
APR. 10 1909.]
THE CHRONICLE
1intra.
Wile (commercial '3
COMMERCIAL EPITOME.
Friday Night, April 9 1909.
With the rise in the security, grain and cotton markets and
some moderate increase in general trade, the tone in the
American business is becoming rather more confident,
though transactions are still kept within very conservative
limits. Seasonable weather has helped business somewhat.
Conditions in the iron and steel trades are still more or less
unsettled.
LARD has been without very marked change, but latterly
the general tendency of prices has been upward despite
occasional reactions, due in part to large receipts of hogs, decreased exports of products as compared with last year and
the smallness of the cash demand. Moreover, large Milwaukee packers have at times sold freely. Provisions generally have made a disappointing response to the rise in
grain. Prime Western 10.50c.; City 10y0.; refined Continent 10.80e.; South American 11.50c.; Brazil in kegs 12.50c.
DAILY CLOSING PRICES
Sat.
May delivery in elevator10.12
July delivery in elevator10.22 M
Sept. delivery in elev'r_10.37%
OF LARD FUTURES IN CHICAGO.
Tues.
Wed. Thurs.
Fri.
Mon.
10.173i 10.25
HOLT10.12
10.35
DAY.
10.22 M Holl- 10.25
day. 10.37
10.35
10.47%
949
COTTON.
Friday Night, April 9 1909.
THE MOVEMENT OF THE CROP as indicated by our
telegrams from the South to-night is given below. For the
week ending this evening the total receipts have reached
86,666 bales, against 95,082 bales last week and 94,029
bales the previous week, making the total receipts since
the 1st of September 1908 8,688,430 bales, against 7,428,218
bales for the same period of 1907-08, showing an increase
since Sept. 1 1908 of 1,260,212 bales.
Receipts at-
Sat.
Mon.
Tues.
Wed.
Thurs.
Fri.
Total.
Galveston
6.913 2,943 11,684
2,594 7,680 2,291 34,105
_
Port Arthur_
CorpusChristi,
&c
---------------------300
560
New Orleans...... 1,888
2,100 3,936 5,555 1,059 4,429 18,967
.
Gulfport
Mobile
-iii
1,156 -676 -556 -670 1- 566 4" -22
.
.
,
Pensacola
___
---------------------118
Jacksonville, &c.
118
Savannah
2,318 2,386 4,216
1,551 2.4515 3,56 16,053
Brunswick
- i Charleston
- 5o
--- - 6
----Georgetown ---------------------35
35
_
iiiiiiii
627
Wilmington
825iio
;too 3,540
Norfolk
603 1,802
909
783
652
1,658 6,407
Newp't News,&c.
____
- --- - -- -- - -- -- ----New York
_
Boston
370
------------------687
Baltimore
687
-_
-- Philadelphia
162
____
37
--------199
---- ---- --- Totals this week_ 13,653 10,052 23,237 11,985 13,359 14,380 86,666
The following shows the week's total receipts, the total
since Sept. 1 1908, and the stocks to-night, compared with
last year:
PORK has been in moderate demand and steady.. Mess
$18 50©$19; family $18 50@$19 50; clear $19@$21 50.
1908-09.
1907-08.
Stock.
Receipts to
Cut meats quiet; pickled hams, 10 to 14 lbs., 9U@10c.;
April 9.
This Since Sep This Since Sep
pickled bellies 94@103(c.; hops, quiet. Wool firm with
1908.
1909.
Week. 1 1908. Week. 1 1907.
a good demand.
Galveston
34,105 3,276,753 43,225 2,225,411 106,629 130,802
PETROLEUM.
-There has been a fair trade with refined Port Arthur
107,676
130,042
Christi, &c_
300 129,980
37,612
in barrels 8.50c.; bulk 5c.; cases 10.90c.; Gasoline, 89- Corp. Orleans____ 18,967 1,795.412 27,590 1,740,556 202,824 179,469
New
degrees, in 100-gallon drums, 19c.; drums $7 50 extra. Gulfport
20,221
4,522 334,385 4,635 299,423
18,453
25,357
Naphtha 16c. for 73 to 76 degrees in 100-gallon drums; Mobile
Pensacola
130,790 5,215 152,790
drums $7 50 extra.
Jacksonville, &c_
118
28,363
7,746
16,053 1,333,290 13,847 1,410,280
70,847
71,083
OIL.
-Cottonseed has been in moderate demand and Savannah
307.273
Brunswick
387
903
197,656
1.363 192,377
456 190,721
15,073
firmer. Winter 5.55@6c.; summer white 5.45@5.90c.; Charleston
18,280
Georgetown
35
2,302
387
olive quiet at $1 50(01 60. Lard quiet and steady at Wilmington ____ 3,540 365.096
947 469,084
10,137
14,910
6,407 505,250 2,872 492,239
25,500
78@80c. for prime and 57©58c. for extra No. 1. Cocoanut Norfolk
27,410
13,947
97
N'port News,
6,095
has been in fair demand; Cochin 6%®7c.; Ceylon 6@6%c; New York &c_
14,517
3.180 112,881
97,927
14,744
370
10,786
Boston
67
Palm, Lagos 57(4o6c.
4,002
8,874
687
88,999
439
68,402
Baltimore
10,717
10,631
COFFEE has been drifting downward as it has become Philadelphia
199
4,689
300
8,174
4,987
2,302
more clear that no duty or tax of any sort is likely to be
Total
86,666 8.688,430 99,690 7.428,218 590,231 571,154
imposed. The Brazilian receipts, it is true, have been
small and the warehouse deliveries large, while the world's
In order that comparison may be made with other years,
visible supply during March decreased no less than 983,333
seasons:
bags. On April 1st it was 13,932,904 bags, against 14,916,- we give below the totals at leading ports for six
237 bags on March 1st, and 15,460,589 on April 1 1908. Receipts at- 1909.
1905.
1904.
1907.
1908.
1906.
But statistics have no effect. The recent big warehouse
5,625
Galveston _ _ _
34,105
43,225
48,880
27,300
52,017
deliveries are attributed to the fear, at one time very general, Pt.Arthur,&c.
2,198
300
9,376
842
89
that a duty would be imposed. Rio on the spot has been New Orleans_ 18,967 27,590 18,428 36,653 52,450 11,819
Mobile
4,635
1,869
2,929
6,143
459
4,522
quiet and easier; No. 7, 83c., with Santos No. 4, 9(4)931
3c. Savannah __ _ 16,053 13,847
3,654
9,173
20,655
22,339
Mild growths have been in only moderate demand with Brunswick _
5,628
146
1,024
442
1,958
2,034
Charleston,&c
1,398
456
1,616
prices about steady; fair to good Cucuta 10©10%c.
947
1,259
1
Wilmington_ _
3,540
1,507
6,183
3.647
2,872
4,564
6,662
15,158
Norfolk
6 407
The closing prices were as follows:
April
May
June
July
8.85@.600
6.85 6.90
6.50006.55
6.4506.50
August
6.20®6.25 December _5.950)6.00
September __6.15@6.20 January
..5.95®6.00
5.95 ® 6.00 February __ _5.95 ® 6.00
October
November _5.05@6.00 March
6.00 ® 6 05
SUGAR.
-Raw has latterly been more active without
showing much steadiness; in fact April shipments are reported somewhateasier. Centrifugal, 96-degrees test, 3.95@
3.98Mc.; muscovado, 89-degrees test, 3.45@3.48Mc.; and
molasses sugar, 89-degrees test, 3.23@3.28c. Refined has
been quiet on the basis of 4.85©4.95c. for granulated. Tea
has been quiet but firm, with only moderate stocks. Spices
steady and in fair demand. Rosin has been steadier at
3.30 ®3.35c. for strained. Spirits of turpentine, after dropping to 393c., became firm at 40c., with supplies light.
TOBACCO.
-Trade has been slow and to many people
there seems little likelihood of a change for the better in the
immediate future. A trifling increase in the sales of Havana
tobacco calls for no particular comment. Seed leaf is firm
but the transactions are light. Cigars have been in but
light demand with the consumption of cheap descriptions
still so small as to constitute a noteworthy feature of the
situation. Sumatra is not attracting much actual demand.
Criticism is directed both to the price demanded and the
quality of much of that offered.
COPPER has been quiet but rather steady of late under
the stimulus of speculation here and in London, particularly
in London. Here small lots for April delivery have at times
been pressed for sale. Lake 1238@13c.; electrolytic
/
123@121 c.; and casting 12%©123'c. Tin has latterly
X
-c. with London and Singapore
been firm at 29i®293
stronger. Lead has been quiet and steady at 4.073j@4.10c.
Spelter has been steady but slow at 4.77%@4.823c. Pig
iron has been dull, pending tariff developments; No. 1
Northern foundry $15 50@$16; No. 2 Southern foundry
$14 75@$15 25. In fabricated steel there has been a good
business, with plain material 1 to 1.05c. in some cases.
Production of all blast furnaces is decreasing slowly. Structural steel sells the best, but at low prices.
N'port N.,&c.
All others_
1,374
97
6,021
1,248
12,470
198
2,121
528
4,766
208
1,882
Total this wk_
86,666
99,690
113,585
101,601
163,544
29,418
Since Sept. 1_ 8,688,430 7,428,218 9,034,066 6,856,598 8,052,754 6,771,160
The exports for the week ending this evening reach a total
of 81,774 bales, of which 19,318 were to Great Britain,
8,308 to France and 54,148 to the rest of the Continent.
Below are the exports for the week and since Sept. 1 1908:
Week ending April 9 1909. , From Sept. 1 1908 to April 9 1909.
Exported toExported to
Exports
from
-
ContiGreat
Great
Omit
Britain.Fr'ace nent. Total. Britain. France. neat.
Total.
,
37,014 50,876 1,354,905 399,524 1,072,60 2,827.034
Galveston
13,8(32
63,785 130,042
_
66,257
_ ___
Port Arthur___
9,102
-586 300
Corp.Christl,&e
9.102
3,719 7,708 768,202204,92 574,419 1,547,549
New Orleans__3,989
8,218
8,218 79,865 95,29
68,007 243,167
Mobile
49,297 132,458
32,257 50,574
Pensacola _ _ _ _
---20,221
4.132 16,089
Gulfport
7,153 7.153 148,793 87,672 563,12 799.593
Savannah_ _ _ _
87,60 274,480
----Brunswick_._
---- 186,871
---69.76
75,494
Charleston__
5,725"
_ __ R8,207 s.i.i 251,12 348,063
Wilmington...
_1-2,05
29,000 .___
31,055
Norfolk
Newport News
564
90 3,836 4,490 128,488 36,348 153,45, 318,289
New York_
903
10,54
903
94,158
Boston
83,60935,239 6,',4 51,73
Baltimore _ _
93,241
Philadelphia _ _
____ 40,569 ____ 9,15 49,728
796
796
Portland, Me_ _
67, • i
San Francisco _
67,006
64,712 64,712
Seattle
8,91
8,910
Tacoma
301
Portland, Ore
300
101
100
Pembina
2.103
2,103
Detroit.
Total
19,318 8,308 54,148 81,7743,055,048905,7293,176,8247,137,601
Total 1907-08_ 21,002 17,915 65.024103,9412,603,777787,0033,051,0986,441,878
• 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. We add similar figures for
New York.
Total.
Leaving
Stock.
5,395 2,547 11,770
271 28,765 176,059
6,782
New Orleans__
50,796
Galveston ____ 21,019 11,675 9,262 11,027 2,850 55,833
_
----------------------70,847
Savannah ____
200
____
200
---18,080
- -- - Charleston_ __ ____
800 6,735
400
960 4,575
18,622
Mobile
14,165
-----------------13,245 13,245
Norfolk
0 1,800
____
3,650 109,231
New York.... 1.
_-__
3,500
____
6,500
3,000
28,503
Other ports__ _
---- ----------- -- ------Total 1909_ 32,201 18,280 21,484 24,597 17,366 112,928 486,303
Total 1908_ 40,258 11,108 50,061 34,712 21,955 158,094 413,060
Total 1907_ 74,984 25,446 40,775 50,921 28,147 220,273 576,275
The specu ation in cotton for future delivery has broadened
and gathered such momentum that prices have without much
difficulty been forced upward. Reports of drought in Texas
have been the overshadowing factor. Some rain has fallen,
effect that the drought has
but reports are persistent to
not been effectually broken. Conditions east of the Mississippi River are believed to be in the main favorable, but
little attention is paid to that fact. All eyes are centered
on Texas. Some contend that in any case the Texas crop
is bound to be late. In fact, some very extreme opinions
have been expressed concerning the outlook, not only in
Texas but elsewhere. Many look for a decreased yield, even
though it is of course entirely too early to be at all certain
on this point. But what, with some adverse Texas weather
and crop news, rising spot markets coincident with an expanding demand, and some not unnatural sympathy with
the sharp advance in the stock and grain markets, bulls
have been emboldened to take the aggressive. What is
more, the outside public has shown more interest in the speculation. Speculative transactions have not reached anything
like the volume of some years ago, when trading in futures
was so active and feverish, and no conservative element
desires anything of the kind. But of late the tendency has
undoubtedly been towards increased trading on the part
of the general public, based on the idea that the next crop
will either be smaller or late and that the country is on the
eve of a general business awakening. Not a few maintain
that there is enough cotton to meet the requirements for the
present season; but they add that another large crop will be
required during the coining season, owing to the increase in
the world's spindles and an expected increase in trade, which
they look to see emphasized as soon as tariff legislation is
out of the way. Meantime the grain markets are so high
that some are beginning to ask whether this fact may not be
reflected in some decrease in the cotton acreage here and
•there in the cotton belt, especially should the season prove
backward. Meantime the stock here has been steadily
decreasing, and much of it is above the grade of middling.
Exports continue liberal, Liverpool has been buying
here to liquidate straddles and the Continent has also bought
to some extent.' Moreover, rather more encouraging advices have been received from Manchester, and in this country
the export movement of goods to China continues, a circumstance on which some stress is laid. The aggregate business
since Jan. 1 has reached a large total for this period of the
year. Wall Street and Chicago, New Orleans and Memphis,
have all at times been buying under the stimulus of reports
of-Jfexas drought, more animated spot markets at home and
abroad and the excited speculation in wheat and stocks.
Splaners' takings, too, have been large,and visible supplies
are decreasing more rapidly than they were a year ago.
Prices have reached the highest point of the season. Some
cool-headed people deny that the situation in Texas is at all
critical, but they consider the conditions there so backward
as to be a matter of regret. They maintain, however, that
good rains in the next few weeks would put an entirely different face on the whole outlook. On Thursday, after some
irregularity, due to rains in Texas and heavy realizing prices
prices ran up again on predictions of fair weather and a
"Norther" in Texas and large buying for both sides of the
account. Chicago bought freely. Spot markets were
higher. Spot cotton has advanced 30 points, closing yes•terday at 10.25c. for middling uplands. Trade has been
quiet at the advance.
The official quotation for middling upland cotton in the
New York market each day for the past week has been:•
April 3 to April 9Middling uplands
Sat. Mon. Tues. Wed. Thurs.
• 10.00 10.10 10.10 10.10 10.25
Fri.
11.
NEW YORK QUOTATIONS FOR 32 YEARS.
1909_c____10.25
1908
10.15
1907
11.00
1906
11.70
1905
8.05
15,00
1904..,
1903-- -----10.50
1902
9.25
8.31
9.75
6.19
' 6.19
7.44
7.88
_ 6.38
1895_ _
7.75
1894 _.__
190l_c
1900...
1899
1898
1897
1893_c
1892
1891
1890
1889.;
1888
1887
1836
8.55
6.31
8.94
11.50
10.31
9.81
10.62
9.25
1885_c
11.06
1884._ .___Il.75
1883
10.06
1882
13.08
____10.81
1881_12,38
1880
1879_ _____11.25
1878
10.62
MARKET AND SALES AT NEW YORK.
Spot Market
Closed.
Futures
Market
Closed.
Quiet, 5 pts. adv.- Very steady_
Quiet, 10 pts. adv_ _ Firm
Quiet
Barely steady
Quiet
Steady
Quiet. 15 pts. adv_ _ Firm
-.
..
DAY
•Mtai
Sales of Spot and Contract.
Con= ConSpot. sum!n. .tract.. Total.
100
150
250
100
-
-The highest, lowest and closing prices at
FUTURES.
New York the past week have been as follows:
.1 .1 0.1 1 2.1
'
00
CS)
t
11..
.
1,1
,,.
-CI
E4
•:.;
,)
E-41
gl 21 Al 21
II 21
el
@i ,. el el. ®l el el el el @I
ei @I
r
,.
et I
0
C).
. '''.
'
't
°I
°I
': 1
,o474
0 .
° I
° I
CO
."..
° I
Friday,
April 9.
April 9 al-
, GerOther CoastGreat
Britain. France many. Foreign wise.
Wednesday,
April 7.
On Shipboard, Not Cleared for
Saturday_._
Monday _ _
Tuesday
Wednesday
Thursday _
Friday__ _ -
[VOL. Lxxxviii
THE CHRONICLE
950
°I
°I
°I
II
°I
.4 .
1.-3e4
C.
I
tel g2 12 22 2,7 gg gg 1g gg
22 II 22
.. .
.. .. ..
.
.. .
....
..
el el el .1. el .N el el @I .0 el @I
Cl ON @I
- MN 0 el on el on
01
CZ NM
10
MM
0 NM CM ON ON
IM MM MM MM MM
N
.N
IM
WM
000
MM
.0
II
MM
12 27'. ig = gt 2G 2,7 12 02 23 11 13
..
.
.. .
.. .. .. .. . ..
.
el ei @I 01 @I @I
el @I @I @I .10 .10 00 .IN .N .n el el
N,
t, NO 0 ercO
W
IM
NC
OM
N NN 00 00 000 .. .. ..
IM
00
OM
MM
OW
MM
MW
MW
000
II
McP
7,3
12 21 02 rzn 22 11 ,
1
170 22 2g 2g P.2
'
. .. .. ..
.
.. .. ..
.. .
..
el N ON el
@I@I 000 el 0-0-. .0 el el .N el el
.
.0 el
NN
-CON PI el
N N00 NN NN 00 .
.
.
..
10
MO
MM
MM
MO
Id
MO
CO 00 0.1
10
MM
WO
O.
II
MM
It tt
12 22 gg 20 V2 3Z 22 22 II 23
00
.
.. .
.. 00i 00 00 mim 00 000:
.0,
c
QA
i.,
• @I @I @I @I @I @I @I @I @I @I @I
0 CO,O. 1)0 O. 00 00 no
0 .C.
ao no
ooo on '000
00 .1..0) .To
id 00
.
..
- 0
...E,
el
oo
d .. .. 000 000 00 00 00 il ..
.
It gt 1,7 23 0,7,' 14 tr4 l'4. `‘,.1!'i! 22 II lc%
Cl .. ..
0 00
0 00 00;
Cl
21 21 @I @! @I 21 2! el @I
ti
I - .0 l oi cc,; .„; 0. 0. ., ,i. II .
ci 0;.; C)).. =:,,,
1 1 0.
1
gg gg gg gg i gg gg gg gg .g gg .g 1.g
IgAlui5:91.;'pg.uclAcalgligAio l o40
l
tgo,zo r„..„igoeueoggoig,,,,oeugz.
1
,, 1 ,73 . A .1 N .@i T.4 @J,
'5'5
'51'
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 (Friday), we add the item of exports from
the United States, including in it the exports of Friday
only.
1908.
1907.
1909.
1906.
bales.1,353,000 984,000 1,229,000 1,088,000
8,000
9,000
9,000
9,000
79,000
80,000
71.000
67,00o
---1,433,000 1,071,000 1,318.000 1,144,000
Total Great Britain stock
19,000
14,000
11,000
10,000
Stock at Hamburg
t
500,000 955,000 458,000 233,000
Stock at Bremen
258,000
185,000
342,000 249,000
Stock at Havre
4,000
3,000
4,000
4,000
Stock at Marseilles
16,000
44,000
42,000
9,000
Stock at Barcelona
28,000
131,000
43,000
45,000
Stock at Genoa
21,000
13,000
2,000
8,000
Stock at Trieste
April 9Stock at Liverpool
Stock at London
Stock at Manchester
Total Continental stocks
946,000
820,000
893,000
492,000
2,319,000 1,891,000 2,211,000 1,636,000
Total European stocks__
116,000 286,000 144,000
India cotton afloat for Europe_ _ _ 118,000
395 300,740 530,612 321,998
American cotton afloat for Europe 303.
34,000
48,000
42,000
48,000
EgYpt,Brazil,&c.,allt.for Europe_
267,000 225,000
187,000
151,000
Stock In Alexandria, Egypt
453,000 605,000 744,000 1,028,000
Stock in Bombay, India
571,154
593,231
796,998 721,710
Stock In U. S. ports
451,447 • 448,971
Stock in U. S. Interior towns_ _ _ _ 626,193 463,034
15,799
4,522
13,275
U. S. exports to-day
1,100
4,792,341 4,221,727 5.268,332 4,500,779
Total visible supply
Of the above, totals of American and other descriptions are as follows:
American
bales_1,239,000 858.0001,111,000 , 948,000
Liverpool stock
60,000
68,000
65,000
Manchester stock
57,000
910,000 741,000 823,000 435,000
Continental stock
303,35 300,740 530,612 321,998
Europe
American afloat for
599,231
571,154
796,998
721,710
U. S. port stocks
626,193 463,034
951,447 448,971
U.S. Interior stocks
4,522
15,799
13,275
1,100
U. S. exports to-day
_________
3,742,341 3,017,727 3,791,332 2,933,779
Total American
East Indian, Brazil, &c.
114,000
126,000
Liverpool stock
118,000
120,000
9,000
8,000
London stock
9,000
9.000
11,000
11,000
10,000
15,000
Manchester stock
38,000
79,000
57,000
Continental stock- _
70,000
118,000
116,000 286,000
144,000
India afloat for Europe
42,000
34,000
48,000
Egypt, Brazil, &c., afloat
48,000
267,000 225,000
151,000
Stock In Alexandria, Egypt
187,000
453,000 605,000 744,000, 1,028,000
Stock in Bombay, India
-1,050,000 1,201,000 1,477,000 1,567,000
Total East India, &c
3,792,341 3,017,727 3,791,332 2,933,779
Total American
4,792,341 4,221,727 5,268,332 4,500,779
Total visible supply
5.27d.
5.88d,
Middling Upland, Liverpool_
6.16d.
8.10d.
10.25c.
Middling Upland, New York_ _
10.25c.
11.00c.
11.80c.
8S6d. 8 9-16d, 11 1-18d.
Egypt, Good Brown, Liverpool
10%d
7.75d.
Peruvian, Rough Good, Liverpool
9.85d.
0.005.
8.755.
5 1-18d.
Broach, Fine, Liverpool
55id.
53id.
5Ud•
5d.
TInnevelly. Good, Liverpool.55. 5 5-16d. 5 9-16d.
Continental imports for the past week have been 91,000
-150 bales.
The above figures for 1909 show a decrease from last
week of 100,096 bales, a gain of 570,614 bales over 1908,
250 .a decrease of 475,991 bales from 1907, arida gain of 291,562
bales ov61119060),.
-that is,
• AT THE INTERIOR TOWNS the movement
the receipts for the week and since Sept. 1, the shipments
for the week and the stocks to-night, and the same items for
the corresponding period for the previous year-is set out
in detail below.
tIZZt1,0,,541 14,90W1.1,452,90C4M:at',04 , 12t"Mg210J
0 .0 4
00
.3 g: "PqaPeri
'vFflff0 e•
"
1
.
"a"gig gg r 670
g -4"'nfgaglEgg040.205cWo o lg irla0
F, .0' 1.0.-p,:rei 0 tyz
1..... e
,scr.2,' .:•• - 0.5471 wr 05'
..m
.
4
9, .=.5 a' 0.:• ,4
lz o P'4,. r 8' -.F.4eF 8g94',1 g- .- • r** '
F
-•
.1'
S.
1
P
ci.
.
1 F.'
3 ' cr
A &' .:a.
. 0•0
us .0 O
gF.7
R
0
(0
00
it,
.
0
,
030 100N..)4.AU03N
0,
0.403000N00A0IA.A.W0°00'0..0°00030000000,0
.
'0°0CA0°0
0 0.0N.IW.A.030 0
0
ON0000.00..000 0.
Receipts.
0,44,40.0N.4
....IOW
W
2_1R0
0
W
24.401
.0.
1071
14,672,0511 80,7541
.
6 .
ot, eo,
...10,1., ea oo I.,to e.,"O '('-1 .-.1s, 0°G-tota.l&N1900,...
"o I , 0,1s.w.c..soNsi.e.s.o.a.ou eons-4e.c.sw=co.o. otsso
,
WON
o03-p.im55.0.00e.0.0.“0.0°0000.01905303„0303030303,_
0' 00'
.
W..
W
.
co
en
W0,PNNON0100053
,
0.0..q00°0.40 105.1
1.10.4..5,
IN 44,01,5..4003 I03.4000.1(4.4.530.11.
,
.400.03.4.P.,A03W0'13,
.
,
.
.
41. .
001.....01 40140W0°:C.AV0°I0303....660V,47_,I.A4,U
03.. .
0°0'„„_„ 03190,0'19 y0 '... .N03
'
0
'
0030'W I J030°030150
00
,
,
.
1
130-40,003.4 3,00'40.
0
40N0000°0'003.1.4030.
.
N
C/7
. ..
.
.NN.
.
W
N
.W
"
.P, 1
.
4.71
.
. 0.W.CAlc oo . 01,0U. ,
W011. 1.WCA 0.1.00041W 00
. 00.,04..c.0.000-4-4.4cooeczoovoc.,..)0000 .000301
is.. . 0000w000mue A.n0,400030,00,00cacamo0t0c.,00-4. 1 • •
.
N .I
,........ ......... ., VP a
... c000woeuo..4.0...t.nt000.-4-40ow.on,loo.o-l000 .1a 2
000.
0°o01ts,0'o .
.0. ..04NMW
0.
.4(000C.0
NPW.4000W00.4 W
4s.O-
.1.
04
ia.
Movement to April 10 1908..
Receipts.
Stocks
April '
Week. Season.
9.
,7
. .,
c07g.b70.:0aolaT-..o 00O00 0 eoVolo
.
.
,
,
0, 7-.7..,"olobb,.&00 00.1.11,,i4107-•Vo
owm0,P.o..1.40.w0000.4woo00.4.o.o.40.00wc 0 00.0cot.
4 o.000No.c00..0.0.4w..10w.0.014-4.4uNwoomo.0....o
n,
-4 -1
CI
0
.
W
.
w.ot ..
N
1..o.4obe.,W7...owee.ouv:0.00.1
N ..1
:P. '
,
m ocev,000.,,,.0oom...10..iwooNon'oo-4-4-4.0.0,,,moo...
l000mtvow0000.woo.o..0
,
,
0 0.- 000moisioo...loom
. .0. .....
.o.. ,g,.. N
w.
g :
C.
,
.
Movement to April 9 1909.
N
ea
. .
Ni
CA.O
.
rt.....O
,
.1
1 i
.14......1s.
.0. OW.. NTWON .
I NI.I.N.400OMN00.14.0030W0W.W000
.C 4WC4
"
.
0, 0.030N0.0Ca0WWOON0200.00-4.4000 00.00
N
0
W.. NI ..
la
.
W
Cm
W.
CA0OWN.NOMOWN
,W
0.0N .N.W.OVIC.00....1C
0 0
404,0W 0.4,00000
0 000CACA000 10NCA00.0..4004,
Week. I Season.
4s.
0
GS
NS
0
0
W
951
THE CHRONICLE
APR. 10 1900.1
0,0..030,0.N0000:14.-40o0'000..-0'0°03o
,
0 0
-•-This year's figures- estimated.
The above totals show that the interior stocks have decreased during the week 23,172 bales and are to-night 163,153
bales more than at the same time last year. The receipts
at all the towns has been 8,730 bales more than the same
week last year.
OVERLAND MOVEMENT FOR. THE WEEK AND
-We give below a statement showing
SINCE SEPT. 1.
the overland movement for the week and since Sept. 1, as
macie up from telegraphic reports Friday night. The
results for the week and since Sept. 1 in the last two years
are as follows:
----1908-09---April 9ShippedVia St. Louis
Via Cairo
Via Rock Island
Via Louisville
Via Cincinnati
Via Virginia points
Via other routes, &c
Week.
5,795
3,432
633
896
356
748
1,946
Total gross overland
Deduct shipments
Overland to N. Y., Boston, &c
Between Interior towns
Inland, &c., from South
Total to be deducted
Leaving total net overland •
Since
Sept. 1.
550,000
282,525
29,348
67,984
39,825
154,487
236,444
Week.
9,499
3,301
826
924
2,486
938
1,783
Since
Sept. 1.
354,260
169,890
28,757
43,790
40,276
81,117
201,646
919,736
198,044
19,757
806
627
1,262
2,695
10,136 1,162,569
17,062
719,009
13,806 1,360,613
1,156
874
1,640
122,949
41,262
33,833
3,670
90,542
60,015
50,170
200,727
• Including movement by rail to Canada.
The foregoing shows the week's net overland movement
has. been 10,136 bales, against 17,062 bales • for the week
la gt' year, and that for the season to date the aggregate
net overland exhibits an increase over a year ago of. 443,560
bales
:A
-----4-1908-09---- ------1907-08----,,
Since
,aangspinners'
In Sigh4 a dS
Sept. 1.
Week.
86,666 8,688,430
Reeeipts at ports to April 9 '
10,136 1,162,589
Neti'overland to April 9
Sonthern consumption to April 9.a 49,000 1,451,000
.,
145,802 11,301,999
,
' rota! marketed
512,178
*23,172
Interior stocks in excess
Since
Week..
Sept. 1 J
99,690 7,428,218
17,062
.719,009
41,000 1,497,000
157,752 • 9,644,227
*22,678
382,451
135,074.
Came into sight during week_ _122,630
11,814,177 •
10,026,678
Total in sight April 9
"
,
37,171 1,413,748
Nroth. iminnerd' takings to April 9 27,526 2,279,812
'
.
a These figures are not the takings by Southern mills, but are estimates
of consumption based on information received from time to time during
trio season and revised, it necessary, when complete returns are received
at season's close. Reports from various sections of .the , South Indicate
that takings by the mills have thus far this season, beep appreciably
he'atier than during the corresponding period a year ago, but actual or
....,.
approximate data Is not obtainable.
.
• pecrease during week.
Movement into sight in previous years:
Bales.'
Bales:
Since Sept. 1Week- .
-April 12
2 1900.477.417140:643886
160,847 1906-07
190V-Aprll 12
1.,.. ,
138,962 1905-06-April 13....,-..1 ,
1906-April 13
297,625 1904-05-April 14
1905-April 14
NEW ORLEANS OPTION MARKET.
Saday, Monday, Tuesday, Wed'day, Thursd'Y. Friday,
April 3. April 5. April 6. April 7. April 8. April 9.
April
Range
Closing
May
Range
Closing
June
Range
Closing
July
Range
Closing
in
A ugs ge
Closing
September
Range
Closing
October
Range
Closing
December
Range
Closing
January
Range
Closing
Tone
Spot
Options
.___ ® _ _ ® ___. _ ® _ .___ ® ___. _ ® ____
9.58 • 9.73 • 9.69 - 9.64 • 9.78 •
9.63-.68 9.70-.85 9.73-.85 9.72-.82 9.69-.88
9.67-.68 9.82-.83 9.75-.76 9.73-.75 9.87-.88
_ ® _ _...... ® _ ____ ® _ _ ® ___. ___. ® _
9.71-.73 9.86-.88 9.79-.81 9.77-.79 9.91-.93
9.74-.82 9.86-.01 9.91-.02 9.90-.00 9.87-.07
9.81-.82 9.99 - 9.92-.93 9.90-.91 10.06-.07
9.69 -- ® -- ® .88 9.85-87- ® .95
9.69-.71 9.87-.89 9.82-.84 9.77-.78 9.93-.95
HOLIDAY.
_ ® _ ___
_ _ ® ____ _ e ____ _ @ _
9.55-.57 9.71-.73 9.66-.68 9.64-.65 9.79-.81
9.40-.43 9.45-.60 9.51-.62 9.50-.61 9.48-.68
9.43-.44 9.58-.59 9.52-.53 9.51-.52 9.68 9.36-.40 9.42-.55 9.49-.57 9.49-.57 9.49-.65
9.39-.40 9.54-.55 9.49-.50 9.49 -- 9.65-.66
9.37-.38 9.46-.55 9.50-.58 9.49-.57 9.53-.65
9.38-.40 9.54-.55 9.50-.51 9.49-.50 9.65-.66
Firm,
Firm.
Steady. Steady.
Firm.
Firm.
Steady. Steady.
Steady.
Firm.
• Nominal.
-Our teleWEATHER REPORTS BY TELEGRAPH.
graphic advices this evening from the South are in the main.
of a quite favorable tenor. Rain has been quite general,
with the precipitation rather heavy at a few points, but the
rainfall light as a rule. The temperature also has been.
satisfactory on the whole, although lower towards the close
of the week, with light frost in some localities. Farm work
has made good progress in most sections.
-We have had etcessive rain on one day"
Galveston, Texas.
during the week, the rainfall reaching two inches•and fiftyfour hundredths. The thermometer has averaged 63,.
ranging from 52. to 74.
-It has rained on one day of. the week, the.
Abilene, Texas.
rainfall reaching one hundredth of an inch. The thermometer has ranged from 43 to 85, averaging 64.
-There has heen rain on two days
Corpus Christi, Texas.
of the past week, the precipitation reaching eighty-two.
hundredths of an inch. The thermometer has averaged 74,
ranging from 54 to 94.
Fort Worth, Texas.-Rain has fallen on one day of the week,
the rainfall being ninety-two hundredths of an inch. Average thermometer 60, highest 86, lowest 34.
-We have had rain on one day during
Palestine, Texas.
the week, the precipitation reaching sixteen hundredths of'
an inch. The thermometer has averaged 62, the highest
being 84 and the lowest 40.
-It has rained on two days of the
San Antonio, Texas.
week, the precipitation being twenty-eight hundredths of an
inch. The thermometer has averaged 72, ranging from 50
to 94.
-It has rained on one day of the week,the
Taylor, Texas.
rainfall reaching twenty-four hundredths of an inch. The
thermometer has ranged from 40 to 84, averaging 62.
-There has been rain on two days.
New Orleans, Louisiana.
during the week, the rainfall being four inches and eightytwo hundredths. Average thermometer 67.
-There has been rain on two days
Shreveport, Louisiana.
during the week, the rainfall being forty-two hundredths of
an inch. The thermometer has averaged 67,. the highest
being 86 and the lowest 48.
-Rain has fallen on two days of
Vicksburg, Mississippi.
the week, the precipitation reaching twenty-two hundredths
of an inch. The thermometer has averaged 67, ranging from.
44 to ,82.
-There has been light frost this week,
Helena, Arkansas.
It has rained (thunderstorm)on one day,the rainfall reaching
ninety-five hundredths of an inch. The thermometer has
ranged from 35 to 84, averaging 64.4.
-We have had rain on two days of
Little Rock, Arkansas.
the week, the precipitation being thirty hundredths of an
inch. Average thermometer 63, highest 80, lowest 46...
-We have had rain on two days
Memphis, Tennessee.
during the week, the rainfall being two inches and seventytwo hundredths. The thermometer has ranged from 46.8.
to 79, averaging 63.9.
-There has been rain, the past week,
Nashville, Tennessee.
the ,rainfall reaching fifty-two hundredths of an inch. The
thermometer has averaged 56, ranging from 32 to 80.
-Cotton planting made good progress.
Alabama.
in the early, part of the week, but there was rain followed
a cold wave the latter portion. General frost'is forecas
for to-morrow. It has rained on two days of.;thei week, therainfall reaching three inches and thirty-six hundredths.
-'Sellers are few but buyers are inMontgomery, Alabama.
creasing their bids. Rain has fallen on two clays during the
week, the rainfall being ninety-nine hundredths of an inch,
and it is now cloudy and threatening. Average,thermometer
64, highest 84, lowest 44.
-We have had rain on three days during
Selma, Alabama.
the week, the rainfall -reaching six hundredths of an inch.
The thermometer has averaged 63, ranging from 42 to 85.
Madison,,Florida.-There has been rain on one day of the
week, the Precipitation reaching .twenty hundredths. of an,
,
252
[VOL. Lxxxvizi.
THE CHRONICLE
inch. The thermometer has ranged from 52 to 80, averaging 68.
-Rain has fallen on two days of the
Augusta, Georgia.
week, the precipitation being sixteen hundredths of an inch.
Average thermometer 65, highest 86, lowest 48.
-There has been rain on two days
Savannah, Georgia.
during the week, the precipitation reaching fifty-two hundredths of an inch. The thermometer has averaged 66, the
highest being 83 and the lowest 52.
Charlotte, North Carolina.
-There has been rain on one
day during the week, the precipitation reaching five hundredths of an inch. The thermometer has averaged 61,
the highest being 83 and the lowest 41.
Charleston, South Carolina.
-We have had rain on one
day during the week, to the extent of eighty-four hundredths
of an inch. The thermometer has averaged 66,ranging from
48 to 84.
WORLD'S SUPPLY AND TAKINGS OF COTTON.
Cotton Takings.
Week and Season.
1908-09.
Week.
1907-08.
Season.
Week.
Season.
4,892,437
Visible supply April 2
4,318,160
Visible supply Sept. 1
f71,74,5i
2,291,844
American in sight to April 9_ _ _
122,630 11,814,177 135,074 10,026,678
Bombay rece pts to April 8_ _ _ _
45,000 1,573,000
34,000 1,501,000
Other India ship'ts to April 8._
23,000
195,000
6,000
163,000
Alexandria receipts to April 7_ _
5,000
866,000
13,000
905,000
Other supply to April 7
1,000
157,000
1,000
194,000
Total supply
5,089,067 16,320,159 4,507,234 15,081,522
Deduct
Visible supply April 9
Total bales.
NEW YORK-To Liverpool-April 2-Cedric,40 upland, 108 foreign 148
To Manchester-April 2-Camoens, 200
200
To London-April 3-Mesaba, 216
216
-La Bretagne, 65 Sea Island
To Havre-April 2
85
-Madonna, 25
To Marseilles-April 7
25
-Brandenburg, 746_ _ _ April 7-Yorck,804 1,550
To Bremen-April 2
To Barcelona-April 5-Antonio Lopez, 1,635
1,635
To enoa-April 2-Cretic, 501
501
To Naples-April 2-Cretic, 150
150
GALVESTON-To Liverpool-April 5-Politician, 13,862
13,802
To Bremen-April 3-Taurus, 6,271; Wittenburg, 6,118._
April 6-Inkum, 4,494; St. Leonards 5,968
22,851
To Hamburg-April 6-Inkum, 3,478
3,478
To Antwerp-April 6-St. Leonards, 1,300
1,300
To Nerve-April 1-Howth Head, 452
452
To Riga-April 1-Howth Head, 250
250
naval-April 1-Howth Head, 1.650
To
1,650
To St. Petersburg-April 1-Howth Head, 900
900
-Carolina, 2.009
To Barcelona-April 2
2,009
-Carolina, 4,124
To Trieste-April 2
4,124
TEXAS CITY-To Mexico-March 23-Molina, 300
300
-To Belfast-April 2-Rathlin Head, 3.989
NEW ORLEANS
3,989
To Barcelona-April 5-Brasileno, 1,749
1,749
To Genoa-April 8-Citta di Palermo, 1,915
1,915
To Mexico-April 3-City of Mexico, 55
55
MOBILE-To Havre-April 6-Logician, 8,218
8,218
SAVANNAH-To Bremen-April 3-Lennox, 200
200
Hamburg-April 3-Lennox, 3,168_ _ _ April 6-Brentwood,
To
428_ _ _Apr 1 8-Eretria. 2,607
6,203
To Gothenburg-April 3-Lennox, 150
150
To Antwerp-April 6-Brantwood, 400
400
To Uddevalle-April 6-Brantwood, 200
200
BOSTON-To Liverpool-April 2-Sagamore, 276_ _ _ Aprll 5-Ivernia, 627
903
SAN FRANCISCO-To Japan-April 2-China, 2,126
2,126
Total
81,774
LIVERPOOL.
-By cable from Liverpool we have the following statement of the week's sales, stocks, &c., at that port:
Mclv. 19. Mclv. 26. Apr. 2. Apr. 7.
56,000
Sales of the week
bales_
4,972,341 4,972,341 4,221,727 4,221,727
Of which speculators took__ • 2,000
-1,000
Of which exporters took_ _ _
296,726 11,527,818 285,507 10,859,795 Sales, American
51,000
191,726 9,048,818 204,507 8,344,795 Actual export
4,000
105,000 2,479,000
81,000 2,515,000 Forwarded
93,000
Total stock-Estimated
1,407,000
• Embraces receipts in Europe from Brazil, Smyrna, West Indies, &c.
Of which American-Est.
.1,297,000
Total imports of the week.. 50,000
INDIA COTTON MOVEMENT FROM ALL PORTS.
Of which American
32,000
Amount afloat_
179,000
April 8.
1907-08.
1908-09.
Of which American
135,000
1906-07.
Total takings to April 9
Of which American
Of which other
Receipts at-
Since
.
Week' Sept. 1.
Since
Week. Sept. 1.
Since
Week. Sept. 1.
45.000,1,
5/3,000 34,000 1,501,000 106,000 2,111,000
1
Bombay
Since September 1.
Exports fromGreat ContiBritain. nest.
Bombay
1908-09
1907-08
1906-07
Calcutta
1908-09
1907-08
1906-07
Madras
1908-09
1907-08
1906-07
All others
1908-09
1907-08
1906-07
Great
Britain.
Total.
-
Continest.
Saturday.
19,000
16,000
38,000
439,000
422,000
766,000
458,000
438,000
804,000
1,000
2,000
5,000
4,000
3,000
4,000
28.000
15,000
82,000
32,000
18,000
86,000
------------3,000
5,000
1,000
1,000
___
3,000
15,000
25.000
19,000
18,000
30.000
22,000
1,000
2,000
5,000
22,000 22,000
1,000 3,000 4,000
6,000 6,000
13,000
10,000
7,000
132,000
105.000
77,000
145,000
115,000
84,000
--
2,000 51,000 53,000
1,000 16,000 17,000
5,000 89,000 94,000
Total all
1908-09
1907-08
1906-07
39,000
34,000
52.000
614,000
567.000
944,000
653,000
601.000
996.000
ALEXANDRIA RECEIPTS
Alexandria, Egypt,
April 7.
AND SHIPMENTS.
1908-09.
1907-08.
1906-07.
35,000
6,489,891
Receipts (cantars)This week
Since Sept. 1
85,000
6,784,460
14,000
6,772,884
This Since
This Since
This Since
Week. Sept. 1. Week. Sept. 1. Week. Sept. 1.
Exports (bales)
To Liverpool
To Manchester
To Continent
To America
4,250,151,566
_1157,133
14,000,265,032
3,250, 61,913
1
I
21,500,635.614
Total exports
5,000 189,395 1,250 177,387
7,000 168,746
172,752
9,000 273,302 11;i5o 287,906
2,500 53,104 2,500 98.437
23,500684,547 15,000 736.482
MANCHESTER MARKET.
-Our report received by
cable to-night from Manchester states that the market is
firm for yarns and quiet for shirtings. The demand for
both home trade and foreign markets is improving. We give
the prices for to-day below and leave those for previous
weeks of this and last year for comparison.
1908.
1909.
8% lbs. Shirt- Corn
Was, common Mid.
Upt's
to finest,
32s Cop
Twist.
d.
Feb
26 7%
Mcb
7% 0
12 7% 0
19 73-160
26 7%
Apr
2 7 3-160
9 7% 0
d. q. d.
e. d.
8
4 6 07
8
8
8
8
4
4
4
4
sg tbs. Shirt-
Corn
legs, common 21.ft'd.
to finest.
Upt's
32s Cop
Twist.
.
d. 4
d q. d.
.
8% 4 6%07 7
4 7%@7 8
e. d.
5.02 9% 0 10% 5 5 08 9
5.14 9
0 10%
6 07
10
6
6% 5 08
4.97 834
6
7 7
4.94
6 07
ST4
5.13 8% 0
8% 0
r
5
5
5
5
4%08
4 08
3 08
0
1%0 8
8
7
6
4%
9% 5 1 08 4
9% 5 0 08 3
a.
6.00
6 04
6.00
5.86
5.68
5.73
5.66
SHIPPING NEWS.
-As shown on a previous page, the
exports of cotton from the United States the past week have
reached 81,774 bales. The', shipments in detail, as made
up from mail and telegraphic returns, are as follows:
Market, 1
Quiet
12:15 )
but
P. M. J steady.
Total.
- Mid.Upl ds.
2,000 28,000 30,000
. 11,000 11,000
4,000 78,000 82,000
54.000
4,000
1,000
49,000
9,000
70,000
1,382,000
1,257.000
48,000
29,000
118,000
96,000
39,000
3,000
1,000
35,000
12,000
41,000
1,353,000
1,239,000
23,000
22,000
117,000
92,000
The tone of the Liverpool market for spots and futures
each day of the past week and the daily closing prices of
spot cotton have been as follows:
Spot.
For the Week.
50,000
3,000
1,000
53,000
11,000
83,000
1,411,000
1,289,000
97,000
74,000
105,000
175,000
Sales
Spec.&exp.
Monday.
Tuesday.
Wed'day.
Thursday.
Friday.
Hardening.Hardening. Hardening. Moderate
demand.
5.17
6.22
5.25
5.27
5.27
6,000
500
12,000
1,000
8,000
1,000
7,000
1,000
7,000
1,000
HOLIDAY.
Futures. Steady at Excited at Steady at Irregular at Quiet'at
2%106% 506 pts. 306 pte.
Market 1 % point
203 pts
pts. adv. advance, decline.
5 decline.
opened
decline.
Market,
4
1 Quiet at
3401%
. ....... n A to.
Quiet at
50634
',fa nth,
Strong at
60634
Quiet at
204%
ntsi Jul,
ntsi tiPi .
Firm unch.
10 2%
nts4 slay
The prices of futures at Liverpool for each day are given
below. Prices are on the basis of upland, good ordinary
clause, unless otherwise stated.
The prices are given in pence and 100ths.
Sat.
Mon.
Tues.
Thus:5 06 means 5 06-100d.
Wed.
Thurs.
April 3
1234 4 12 %, 4 1214 4
1234 12%
12
to
April 9. p.m. p.m. p.m. P.m. p.m. p.m. p.m. p.m. p.m. p.m.
- -a.
d.
d.
d. I d.
d.
a.
d.
d.
d.
April - -_ - -- 5 06% 12% 1136 15% 17% 15 ,15% 15% 18
15 '15 15% 1734
- - 5 06 12% 11% 15% 17
_ 5 07% 13 12% 17 18% 15% 15% 16 17%
May-June.
June-July.
5 10 16 15 10% 21% 18 1834 1834 20
18 22% 24% 21
22%
2134 21
July-Aug ---- 5 12% 18
HOLIAug.
-Sept. _ _ _ - 5 06% 13 13 17% 19 15% 16 15% 17
10 14 16 11% 12 11% 13
DAY.
Sept.
-Oct. _ _ 5 04 11
5 02 09 08 12 14 09% 10 09% 11
-Nov_
Oct.
Nov.
-Dec.
_ 5 01 08 07 11 % 13% 09 09 0834 10
11 12% 08 08% 08 09
Dec.
-Jan_ _ _ _ _ 5 00% 07% 08%
_ 5 00 06 06 10% 12 08 08 07% 083-4
Jan.-Feb_
Feb.-Mch. _ _ 5 01 07% 07 113413 09 09 08% 09%
08 12% 14 09% 10 09% 10
Mch.-Apr.
02
BREADSTUFFS.
Friday Night, April 9 1909.
Flour has latterly been in better demand and prices have
advanced in response to steadily rising quotations for wheat.
Grades hitherto neglected, Kansas straights, for instance,
have sold more freely. Kansas millers are said to be having
difficulty in getting wheat in that section. Kansas City has
been buying wheat in Minneapolis. Within a day or two
business has been quieter here, though New York is considered relatively the cheapest flour market in this country.
Wheat has advanced by leaps and bounds, not only in
this country but at Liverpool, and the Continental markets
have also risen sharply. The strong cash situation is re.
garded as a leading cause of the rise, coupled with a bullish
Government report on the condition of the winter-wheat crop.
Moreover, there are predictions that Europe will need 50,000,000 bushels during the next four months,and at the same
time that shipments to Europe from Argentina and Australia
will decrease from now on. New high records for prices this
season have been made. Indeed, prices have been the highest, with two exceptions, in twenty years. One was in the
famous Leiter corner in 1898, when May touched $1 85,
and the other was in 1888, when the Hutchinson corner drove
the price in September up to $2. Cash wheat here has risen
about 30 cents since Jan. 1. Exporters have latterly been
more disposed to buy. The speculation has been excited,
with wild trading here and at the West, and with rapidly
THE CHRONICLE
APR. 10 1909.)
rising prices at New York, Chicago, Kansas City, Minneapolis, Duluth and Winnipeg. In Liverpool there has been large
trading, and London's business in cargoes has increased. The
Government report on Wednesday was considered bullish.
It gave the condition of winter wheat on April 1 as 82.2%,
against 85.3 in December, 91.3 in April 1908, 89.9 two years
ago and a ten-years' average of 86.6%. The acreage was
given last fall as 29,884,000 acres, against 30,349,000, the
final area last year. The Oklahoma State report the other
day put the condition as 78.07%, which is much poorer than
usual. New-crop hard winter wheat has been sold to Liverpool, via the Gulf, for September shipment, at the full shipping difference based on Kansas City prices. The quantity
on passage to Europe decreased about 4,000,000 bushels.
Export clearances have been only moderate, the foreign
business being restricted by the firmness of holders. Manitoba exporters have been selling wheat to London and Duluth
exporters have latterly found their offerings to Europe accepted. September prices in Kansas City, as already intimated, have been on an export basis with Liverpool. Private crop reports have been in some cases unfavorable. Some
of the bulls think that the winter-wheat crop cannot exceed
. 400,000,000 bushels. A large bull interest at Chicago is supposed to be carrying a line of some 20,000,000 bushels,
though this may be an exaggeration. They have reduced
their holdings to some extent on the recent rapid advance,
but are still predicting much higher prices. They are not
only believed to be heavily long of the May option, but to
have latterly been buying July, which they are disposed to
treat as an old-crop month on the theory that the present
crop will be late. Moreover, some damage is feared in Germany from cold nights. Certainly the crop in that country
is very backward and supplies are reported small. The
season in Russia is believed to be backward, partly owing to
floods. Prices there are strong, with a good demand. In
India, though it is said an average crop is expected, rain is
needed. Drought has delayed plowing in Argentina. On
the other hand, attention is called to the fact that the bull
campaign has degenerated into what to many seems a wild
and reckless affair. It looks to conservative critics like an
overbought market. The receipts are comparatively liberal,
and though there is some export demand, Europe is not buying freely from this country. On Thursday prices were
irregular under profit-taking, ending easier except on September. The New York Produce Exchange and the Chicago
Board of Trade were closed to-day.
DAILY CLOSING PRICES OF WHEAT FUTURES IN CHICAGO.
Sat.
Mon. Tues. Wed. Theirs. Fri.
Sat.
Mon. Tues. Wed. Thurs. Fri.
May delivery in elevator
125% i24% HOLI121% 1213%
July delivery in elevator
108% 108% Holl- 1113-i 111% DAY.
September delivery in elevator_ __.1003% 100 day. 102% 104
DAILY CLOSING PRICES OF WHEAT FUTURES IN NEW YORK.
No. 2 red winter, f. o. b
128'% 129% 132 134'% 134%
May delivery in elevator
124% 126% 129% 130 129% HOLIJuly delivery in elevator
115
115% 117 % 118 % 1183% DAY.
September delivery in elevator_ _ _ _ ____ 108 % 110% 110% 111%
Indian corn has risen in price with other grain. But for
the dominating influence of the excitement in wheat, however, many would be inclined to sell short on the theory
that a big acreage will be planted. Cash houses have been
selling and the Western shipping demand has been rather
slack. The visible supply has increased. The favorite
move of many has been to sell the distant months on all
bulges. The weather at the West has been warmer and
spring-like. Prices are comparatively high, and they
constitute a strong incentive to plant a large acreage. Yet
on the other hand it cannot be denied that even the pushing
of field work with a view of seeding an area possibly larger
than that of last year has the effect of distracting the farmers'
attention from marketing his old crop. Certainly the
receipts at the big distributing centers at the West are
small. The offerings have been light. Supplies are comparatively meagre. The stock of contract corn at Chicago
is 921,000 bushels, against 1,368,000 bushels a year ago.
On Thursday prices ''for futures reacted under realizing
sales and bear raiding, but cash prices were firm, with a fair
demand.
DAILY CLOSING PRICES OF NO. 2 MIXED CORN IN NEW YORK.
Sat. Mon. Tu?s. Wed. Thurs. Fri.
76 %
77
77
Cash corn
75% 77
May delivery in elevator
75% 75% 753% 74 % 74 HOLI73% DAY.
July delivery in elevator
743% 74 % 74 % 74
September delivery in elevator_ ._ 73% 74% 74% 733% 73
DAILY CLOSING PRICES OF CORN FUTURES IN CHICAGO.
Sat. Mon. Tues. Wed. Thurs. Fri.
67% 66%HOU68
67%
May delivery in elevator
66% 66% Holl- 66',', 65 DAY.
July delivery in elevator
September delivery in elevator_ _ 66% 663% day. 6665%
Oats, though forced upward with wheat, have not shown
much tendency to advance independently of this influence.
On the contrary, the disposition of many has been to sell
for a decline in the belief that a very large acreage is to be
planted, and that under ordinary circumstances the next
crop will be bountiful, perhaps unusually so. A good deal
of selling of July and September has been done by Chicago
bears. Some who have bought July and September have
sold May. "Cash" houses have been sellers. About
600,000 bushels of Argentina oats are due here this week
and though they are largely owned by jobbers and may,
therefore, have little or no effect on prices, it is none the less
an interesting circumstance. It may be the forerunner
of events of no small moment. It may be the prelude of
much larger importations from Argentina and of the entrance
of a new and significant factor into this branch of the grain
953
trade. Meantime, though the condition of only 68.5 per
cent in Oklahoma, owing to drought and high winds, is
quite the reverse of favorable, the weather over most of the
oats belt has been good. Seeding has progressed under
hopeful auguries. The short interest has been largely
reduced. On the other hand, the contract stock in Chicago
is down to 1,054,000 bushels, against 4,264,000 a year ago
and the total stock there has shrunk to 4,011,000 bushels,
against 7,230,000 at this time in 1908. On Thursday
prices declined under general selling.
DAILY CLOSING PRICES OF OATS FUTURES IN CHICAGO.
Sat. Mon. Tues. Wed. Thurs. Fri.
553, 54%HOLI/
May delivery in elevator
553% 553%
July delivery in elevator
483% 473% Holt- 473% 473% DAY.
September delivery in elevator_ _ 403% 393% day. 39% 39%
DAILY CLOSING PRICES OF OATS IN NEW YORK.
Sat.
Mon.
Fri.
Thurs.
Tues.
Wed.
No. 2 white
59%-60 59%-60 59%-GO 59%-60 59%-GO HOLIWhite, clipped, 34 to 36
DAY.
lbs
58-60 58-60 58-60
58-60 58-60
The following are closing quotations:
FLOUR.
Winter, low grades_ $3 90®$4 30 Kansas straight
$5 SO® $5 90
Winter patents
6 15@ 6 35 Blended clears_..® 5 60
Winter straight
5 90@ 6 10 City patents6 8015 7 10
Winter clear
5 0015 5 45 Rye flour bbls_- ------ 4 25@ 4 75
Spring patent
@ _
6 1015 6 50 Buckwheat flour-----Spring straights
5 5515 5 75 Graham flour_
-@ .1 16
Kansas olears
4 75@ 5 15 Corn meal kiln dried--- ----15 3 50
GRAIN.
Wheat, per bush.Corn, per bush.
N. Duluth, No. 1
No. 2 mixed
el. 763%
132
N. Duluth, No. 2
No. 2 yellow
743%
130
Red winter, No. 2
f.o.b.134 % No. 3
7315733-1
132s% Rye, per bush.
Hard " "
f.o.b.
Oats, per bush.87
No. 2 Western
Nat, white,26 to 281bs 58 1559% State and Jersey
Nominal.
No. 2 white
Barley-Malting
761570
593i@60
White clipped
741575
Feeding. 0.1. f. N. Y.._
58 @p 63
-The reAGRICULTURAL DEPARTMENT REPORT.
port of the Department of Agriculture, showing the condition
of winter grain on April 1, was issued on April 7 as follows:
The Crop Reporting Board of the Bureau of Statistics of the United
States Department of Agriculture estimates, from the reports of correspondents and agents of the Bureau, that the average condition of winter
wheat on April 1 was 82.2% of a normal, against 91.3 on Aprll 1 1908, 89.9
on April 1 1907 and 86.6 the average condition for the past ten years on
April 1. The decline in condition from Dec. 1 1908 to April 1 1909 was 3.1
points, as compared with an average decline in the past ten years of 6 points.
The average condition of rye on April 1 was 87.2% of a normal, against
89.1 on April 1 1908 and 89.2 the average condition for the past ten years
on April 1st.
Comparisons for imbortant winter wheat and rye States follow:
Winter Wheat
Rye
-Condition April 1- Condi- -Condition April 1- Condilion
tion
10-yr. Dec.1
10-yr. Dec. 1
States1909. 1908. Avge. 1908. 1909. 1908. Avge. 1908.
88
93
92
89
Kansas
86
95
89
92
Indiana
90
81
65
75
92
72
68
89
91
90
91
90
Nebraska
90
89
86
93
91
85
93
92
Missouri
93
89
90
79
82
80
72
93
.92
Illinois
92
89
70
67
Ohio
88
60
62
68
86
85
81
90
89
87
88
90
86
Pennsylvania __ _87
83
87
94
93
Oklahoma
94
85
89
89
83
93
94
87
California
88
92
87
93
92
88
80
90
89
50
Texas
66
95
80
86
84
87
93
91
Tennessee
92
95
84
81
89
86
Michigan
82
75
90
81
74
94
86
88
Virginia
94
97
96
90
85
94
91
85
Maryland
96
95
83
87
95
75
86
92
Kentucky
85
80
80
81
95
99
94
98
Washington ___ _96
94
90
98
97
94
91
85
North Carolina_ _93
91
87
93
94
98
99
97
97
97
98
Oregon
92
97
92
92
90
99
New York
90
88
83
88
United States_82.2 91.3 86.6 85.3 87.2 89.1 89.2 87.6
The statements of the movement of breadstuffs to market
indicated below are prepared by us from figures collected by
the New York Produce Exchange. The receipts at Western
lake and river ports for the week ending last Saturday and
since August 1 for each of the last three years have been:
Receipts at
-
Chicago __ _
Milwaukee_
Wheat.
Flour.
Oats.
Coln.
1 Barley.
Rye.
bbls.1961bs. bush.60 lbs. bush. 56 lbs. bush.32 lbs. bush.481bs. bu.56 lbs.
Duluth
Minneapolis..
Toledo
Detroit
Cleveland
St. Louls
Peoria
172,499
67,250
16,000
4,800
928
53,300
55,350
416,800
152,900
309,935
1,308,070
115,500
104,500
12,019
179,900
17,000
279,300
2,895,924
2,612,023
4,418,099
1,028,750
200,200
13,846
68,990
53,100
29,200
30,383
399,185
258,950
113,300
2,195,904
3,684,639
4,575,946
1,160,550 573,000 29,000
121,500 175,500 25,000
914
66,043
51,430
210,900 259,250 13,290
1,500
23,309
19,500
3,000
139,540
65,000 15,000
227,200
2,000
118,500 122,000
67,500
2,139,920 1,263,793 86,704
3,873,101 779,350 57,275
4,213,139 1,369,800 131,594
Kansas City.
Tot.wk.'09 370,127
Same wk.'08 316,852
Same wk.'07 362,310
Since Aug. 1
1908-09. 14,510,257 189,794,509 109,561,781 123,707,957 69.993,337 5,478,601
1907-08___ 12,855,164 177,169,670 137,374,653 141,156,428 53,609,419 5,747,450
1906-07_- 14,833,848 182,293,891 151,257,419 147,545,67856,660.363 6,184,747
i
Total receipts of flour and grain at the seaboard ports for
the week ended April 3 1909 follow:
Receipts at-
Flour,
bbl.
Wheat,
bush,
Corn,
bush.
Oats,
bush.
Barley,
bush.
Rye.
bush.
406,600 253,150 90,525
114,041
265,200
New York
30,734 148,963 173,584 102,148 1,315 3,306
Boston
8,570
2,841 103,369
Portland, Me
2,000
47,781
50,839 168,539
Philadelphia
59,178
59,482
31,377
5,721 408,725
7,806
Baltimore
41,804
47,544
2,430
20,826
Richmond
24,100
22,300 242,200
New Orleans *__ - 13,668
34,285
Norfolk
2,499
20,000
Galveston
4,000
1,950
Mobile
15,679
30,585 4,656
4,730
6,105
Montreal
19,781
16,216 373,214
St. John
281,039 1,026,611 1,548,809 559,050 118,277 11,112
Total week
351.418 676,658 302,288 1,048,254 64,252 12,188
Week 1908
Since Jan.,11909_3,912,284 17,271,544 21,096,083 12,384,876 3031,986 251,347
Since Jan. 1 1908_4,680,000 15,707,529 21,362,831 10,295,102 1605,713 1048,397
* Receipts do not Include grain pa.ssing through New Orleans ter tereign ports
on through bills 01 lading.
954
THE CHRONICLE
The exports from the several seaboard perts.for the week
eliding April 3 1909 are shown in the annexed statement:
Wheal,
bush.
• Exports from118,824
New York
Portland, Me_ _ _ 103,869
65,759
Boston
8,000
Philadelphia ____
Baltimore
9,504
New Orleans ___
Galveston
Mobile
Norfolk
Port Arthur
373,214
St. John
Corn,
bush.
385,299
8,570
241,694
180,000
192,857
155,698
64,286
4,000
34,285
50,012
Flour,
bbls.
49,965
2,841
18,019
34,189
17,623
19,296
725
1,950
2,499
Oats,
bush.
21,139
Rye, Barley,
bush,
bush.
37,811
6,127
180
90
16,276
Total week.... 679,170 1,316,701 161,323
676,810 165,900 247,456
Week 1908
Peas,
bush.
6,144
19,781
21,319
6,480
63,719
17,200 50,339
6,234
10,574
The destination of these exports for the week and since
July 1 1908 is as below:
Flour
Wheat
Since
Since
Week.
July 1
Week
July 1
Exports for week and Apr. 3.
Apr. 3.
1908.
1908.
bits.
since July 1 toibis.
bush,
bush.
United Kingdom__ 85,164 4,303,103 500,445 49,401,155
Continent
47,507 1,890,753 156,258 44,556,326
Cent. Amer.._ 8,728 513,578
&
19,395
402,634
West Indies
18,536 1,125,842
3,072
15,657
Brit. No. Am. Cols_
736
65,016
Other Countries_ _ _
652 258,866
59,485
Total
Total 1907-08
161,323 8,247,158
247,456 9,363,437
-CornSince
Week
July 1
Apr. 3.
1908.
bush.
bush.
561,066 13,832,110
729,653 11,424,762
5,016
37,540
20,966
941,456
8,912
20,936
679,170 94,435,257 1,316,701 26,265,716
676,810 95,099,688 165,900 43,133,856
The world's shipments of wheat and corn for the week
ending April 3 1909 and since July 1 in 1908-09 and 1907-08
are shown in the following:
Wheat.
Exports.
1908-09.
Since
July 1.
Week
April 3.
Bushels.
North Amer. 1,514,000
Russian
_ 944,000
I)anublan _ _
168,000
Argentina _ _ 4,520,000
Australian_ _ 1,616,000
0th. countr's 104,000
•
Corn.
1907-08.
Bushels.
143,746,700
52,336,000
29,080,000
87,228,000
28.080,000
14,278,000
Since
July 1.
1908-09.
Week
April 3.
Bushels. Bushels.
150,792,000 1,373,000
54,750,000 603,000
22,936,000 238,000
76,768,000 297,000
10,044,000
21,462,000
1907-08,
Since
July 1.
Since
July 1.
Bushels.
25,964,400
14,748,500
20,356,500
43,687,500
Bushels,
38,758,000
19,032,000
36,576,000
36,504,000
----Total ____ 8,866,000 354,740,700 336,752,000 2,516,000 104,756,900 130,870,000
,
The quantity of wheat and corn afloat for Europe on dates
mentioned was as follows:
but sellers as a rule are not overwilling to accept business,
except for small lots of spots, at current levels. The difficulty experienced in some quarters in securing as many
goods on contract as desired has made buyers realize that
mills are sold up to a greater extent than they had thought
was the case. More interest has been taken In staple cottons
generally, while demand for fine and faney lines has been
well maintained. Substantial sales recently for export,
together with the firmer market for cotton yarns in sympathy with the strength of the raw material, have served to
strengthen the market, especially on gray goods and other
fabrics, such as drills and sheetings. Jobbing houses have
enjoyed a fair trade in wash fabrics, white goods, lightweight hosiery and a few other'lines; but filling-in orders for
summer requirements have not come forward freely, and the
jobbing trade as a whole has been rather quiet; some orders
for fall goods are coming in, and the outlook seems to be
good for that season. Jobbers have not yet started to cover
their future requirements except on some brown cottons and
heavy sheetings. Prices of cotton goods in the secondary
market have ruled steady. In the silk-piece goods division
there has been a good call for prompt delivery, particularly
for pongees and printed foulards, but uncertainty over the •
tariff has restricted forward business. Activity in the
dress goods market is confined chiefly to the delivery of
sample pieces; in some worsted mills preparations are under
way for the spring 1910 season. Men's wear lines have continued seasonably quiet. Much interest is being manifested
in the movement started by woolen and worsted manufacturers with the view to taking concerted action toward
placing their business on a more remunerative basis and also
to protect their industry against misrepresentation, adulteration and other abuses; the American Association of Woolen and
Worsted Manufacturers has sent a circularletter to its members
suggesting a general conference of manufacturers of men's
and women's wear at an early date, prior to the opening of
the next season, and calling for views as to the advisability
of holding such a meeting. During the current week very
little export business has been done for China'account, but
miscellaneous trade has continued of fair proportions.
DOMESTIC COTTON GOODS.
-The exports of cotton
goods from this port for the week ending April 3 were 8,469
packages, valued at $574,474, their destination being to the
points specified in the table below:
Corn.
Wheat.
Untied
Kingdom. Continent ;
Total.
Bushels. Bushels I Bushels.
Apr 3 1909-- 30,048,000 19,840.000 49,928,0110
Mch. 27 1909_ _ 32.080,000 21,280,000 53,360,000
Apri 4 1908_ _ 33,280,000 23,240,000 56,520,000
Untied
Kingdom. Continent.
Bushels.
2,720,000
2,635,000
1,480.000
Bushels
2,890,000
2,635,000
2,920,000
Total.
Bushels.
5,610,000
5,270.000
4,400,000
The visible supply of grain, comprising the stocks in
granary at principal points of accutnulation at lake and
seaboard ports April 3 1909 was as follows:
AMERICAN GRAIN STOCKS.
Wheat,
Corn,
Oats,
bush,
bush,
bush.
802,000
365,000
687,000
233,000
135,000
22,000
87,000
153,000
71,000
• 144,000
695,000
193,000
286,000
378,000
203,000
186,000
34,000
2,056,000
969,000
1,079,000
293,000
136,000
110,000
369,000
220,000
90,000
4,631,000
1,161,000
1,345,001)
246,000
681,000
143,000
9,501,000
342,000
1,412,000
248,000
13,215,000
353,1)00
1,987,000
801,000
437,000
596,000
1,825,000
1,183,000
224,000
108,000
3,000
943,000
144,000
492,000
67.000
[VoL. Lxxxvut
New York to April 3.
Great Britain
Other Europe
China
India
Arabia
Africa
West Indies
Mexico
Central America "
South America
Other countries
Total
1909
Since
Week. Jan. 1.
10
286
2
241
5,608
49,080
525
4,500
_
7,917
53
2,791
743
10,347
43
423
226
4,259
356
12,534
5,039
903
-8,469
97,417
-----1908----Since
Week. Jan. 1.
142
20
191
1
6,574
3,030
- -6
2,019
7,065
322
1,379
6,030
13
456
257
3,533
210
11,241
589
4,414
3,981
44,055
The value of these New York exports since Jan. 1 has been
$5,250,877 in 1909, against $2,956,270 in 1908.
New York
Boston
A firmer tone has developed on most lines of heavy brown
Philadelphia
cottons, reflecting to some extent the recent purchases for
Baltimore
85,000
3,000
export. Colored cottons, especially well-known brands of
New Orleans
Galveston
shirtings and working-suit materials, have ' worked into a,
Buffalo
1,000
35,000
someWhat better position. Tickings have 'been in fair deafloat
7,()00
Toledo
have improved,
1,000 mand and continue steady, while denim:t (
15,000
Detroit
2,000 especially ticketed lines. In gingharns the feature is
the
Chicago
158,000 , 802,000
Milwaukee
1,000" 131,000 continued scarcity and increased difficiiltY: in securing deDuluth
24,000 1,079,000 sirable deliveries; some leading Southern' mills
'
producing
afloat
"
Minneapolis
687,000 staple ginghams are said to have booked business for a num100,000
St. Louis
182,000 ber of months ahead. In certain quarters bleached goods
25,000
Kansas City_ Peoria
8,000 are very firmly held; the strength and 'freer purchasing of
38,000
Indianapolis
gray goods have naturally imparted firmness to the former.
Total April 3 1909..36,142,000 6,923,000 9,062,000
April
500,000 3,212,000 Fancy prints, particularly bordered effects, have continued
Total Mch. 27 1909..36,412,000
6,755,000 9,007,000
504,000 3,240,000 in active request; but staple prints have moved slowly,
CANADIAN GRAIN STOCKS.
current business being confined principally to small filling-in
Wheat,
Corn,
Oats,
Rye,
Barley, orders; there has also been some export business with miscelbush,
bush.
bush.
bush.
bush.
Montreal
41,000
171,000
28,000
98,000 laneous ports. Wash fabrics, particularly novelties, have
3,513,000
Fort William
been well taken. Wide convertibles have been purchased
afloat
"
610,000
more freely at higher prices than a week ago for both spot
3,540,000
Port Arthur
606,000
Other Canadian
and contract delivery, and, although buyers are still bidding
_reported as firm in their views,
Total April 3 1909._ 8,310,000
171,000
23,000
98,000 former prices, mills are
Total Mch:27 1909_ _ 7,710.000
194,000
28.000
98,000 ,More interest has also been shown in print cloths, and prices
SUMMARY.
for some descriptions display a hardening tendency; regulars
What,
Corn,
Oats,
Rye,
Barley, are still quoted at 3 7-16c. nominal but 'standard wide
bush.
bush.
bush.
bush.
bush.
36,142,000 6,923,000 9,062,000
,
American
500,000 3,212,000 goods have advanced to 4Mc.
8,310,000
28,000
Canadian
171,000
98,000
-In the dress goods division cuttersWOOLEN GOODS.
6,951,000 9,233,000
Total April 3 1909_ _44,452,000
500,000 3,310,000 up are urging prompt dhipment of sample pieces of goOds
6,783,000 9,261,000
Total Moll. 27 1909_ _44,122,000
504,000
422,000 under order, and mills ha:ve been busy meeting sitelfrequests;
5,747,000 10,643,000
Total April 4 1908_ -38,798,000
558,000 3,179,000
Total April 6 1907_49,659,000 11,995,000 9,218,000 1,353,000 2,417,000 an unusually large yardage of unfinished worsteds haS been
9,260,1)00 19,673,000 2,045,000 3,149,000 booked for the fall season. Sonic worsted mills have already
Total April 7 1906_ _46,322,000
Total April 8 1905_31,696,000
8,980,000 15,614,000 1,263,000 2,756,000
spring 1910, and,'while it is too
Total April 9 1904...31,180,000
9,599.000 10,342,000
945,000 3,013,000 begun preparations for
early to make any definite prediction, present indications
are that fancy panamas and plain and fancy serges will be
THE DRY GO ,'DS TRADE.
well regarded for that season. The usual between-seasons.
_ New York, Friday Night, April 9 1909.
inactivity is still in evidence in the Men's wear market, and
( One noteworthy and important development of the week as yet only a few repeat orders have been received.
is the better tone in the primary cotton goods market; trading
-But little change is noted in
FOREIGN DRY GOODS.
in convertibles and print cloths has been fairly 'active com- conditions governing imported dress fabrics, business still
pared with the recent dulness, and the low prices, particu- being more or less restricted by the tariff uncertainty. Linens
larly for gray goods, seem to have been eliminated. Con- are strong and in active request. Burlaps have ruled quiet
verters, in fact, have raised their bids for goods on contract, but unchanged.
•
Rye,
bush.
38,000
8,000
Barley,
bush.
260,000
22,000
THE CHRONICLE
.A.VR. 10 1909.1
TftT
AND
CITY DEVIVATVITNT,
MUNICIPAL BOND SALES IN MARCH.
Municipal bond sales made during March have established a
new high record for that month. Our table shows that the
output was larger by almost twelve millions than the best
total reported for that month in any other year. Not including temporary loans and Canadian sales, the disposals for
the month were $32,324,209. In addition temporary loans
amounted to $5,247,989, while sales by Canadian municipalities were $3,838,203. The magnitude of the sales is
accounted for by the fact that a number of large issues were
disposed of. New York City placed $10,000,000 4s on a 3.93%
basis. Among the other large issues were the following:
$2,888,000 3s and 34'(18 issues) of the State of Massachusetts at 101.196; $1,975,000 City of Pittsburgh 4s at
103.016; $1,314,000 State of Oklahoma 4s; $1,000,000 City
of Seattle 4s at 100.555, and $1,000,000 Allegheny County,
Pa., 4s at 102.1711. The good prices obtained for the foregoing as well as for the majority of the bonds sold during the
month show that the market for municipal issues remains
strong and active.
The number of municipalities emitting bonds and the
number of separate issues made during March 1909 were 180
and 347 respectively. This contrasts with 205 and 251 for
February 1909 and 183 and 263 for March 1908..
For comparative purposes we add the following table
showing the aggregates for March and the three months for
a series of years:
For the
For the
Month of
Month of
1909
1908
1907
1906
1905
1904
1903
1902
1901
Three Mos.!
March.
$32,324,209 465,286,801 1900
90,769,225 1899
18,912,083
10,620,197
57,326,063 1898
57,030,249 1897
20,332,012
17,980,922 35,727,806 1896
14,723,524
46,518,646 1895
9,081,046 30,176,768 1894
7,989,232 31,519,536 1893
10,432,241
23,894,354 1892
.
Thre. Mos
March.
$8,980,735 $34,492,466
18,621,586
5,507,311
23,765,733
6,309,351
12.488,809 35,571,062
15,150,268
4,219,027
21,026,942
4,915,355
24,118,813
5,080,424
17,504,423
6,994,246
22,264,431
8,150,500
Owing to the crowded condition of our columns, we are
obliged to omit this week the customary table showing the
month's bond sales in detail. It will be given later.
News Items.
955
made by those who have evidently taken our item in V. 88,
p. 894, to mean that a new list of investments had been prepared by the Department. As stated by us, the Bank Commissioner simply included in his report for the year 1908 the
list issued last November, incorporating in the same the
various changes which we enumerated. A new list will not
appear until Feb. 1 1910.
-The thirty-first Legis-Legislature Adjourns.
Nebraska.
lature of this State adjourned on April 3.
New York City.-Referee's Report on City Debt Limit.
Gen. Benjamin F. Tracy, appointed as referee in the suits
brought last summer to restrain the letting of contracts for
the Fourth Avenue Subway,and the making of appropriations
for other,improvements, submitted his report to the Supreme
Court on April 8. The suits were instituted by Jefferson M.
Levy, David Meyer and the Fleischman Realty Sc Construction Company, on the ground that the city on June 30 1908
had exceeded the limit of indebtedness prescribed by the
Constitution. It was for the purpose of determining this
point that Gen. Tracy was appointed, and his findings are
that on the date in question (June 30 1908) the city had a
borrowing capacity of $106,205,715. It is said that unofficial estimates obtained at the Comptroller's office, made
on the basis of Gen. Tracy's figures, show that the city
should have a borrowing capacity at present of about $165,000,000. This increase is accounted for in good part by the
advance in realty values effective for taxation on July 6 1908.
Referee Tracy's report gives a borrowing margin greatly in
excess of that estimated by the Comptroller or by other commissions which have been investigating the city's finances.
The Comptroller estimated the city's borrowing capacity as
$2,807,448 62 on June 30 1908 and 348,605,847 85 on Jan. 1
1909. One of the most important variations between the
computations made by the referee and those made by the
Comptroller is the matter of the city's contract liability.
This liability on contracts outstanding on June 30 1908 was
slightly in excess of $54,000,000, and was included in the
debt in the estimates made both by the City Comptroller
and the Charter Revision Commission. Gen. Tracy holds,
however, that the city should be held liable for only that
portion of the contracts which had been earned up to June
30 1908. Therefore he includes in the debt only $2,553,933 92, that amount representing what had been earned
on outstanding contracts up to June 30 1908. The following is the tabulation adopted by Gen. Tracy for the purpose
of determining the borrowing capacity:
TAKE:
1. All bonds outstanding, except revenue bonds, issued within five years
prior to June 30 1908, and including those issued in anticipation of the collection of taxes in 1902, amounting to $100.000.
2. The bonded Indebtedness existing against the various counties prior
to the consolidation, amounting to $21,808,279 64.
3. Assessment bonds.
4. Judgments against the city.
5. Open market orders.
6. All sums earned on existing contracts (amounting to $2.553,933 92
on June 30 1908).
7. The amount of liability for land taken for public use.
Denver, Colo.
-Appraisers' Report on Value of Water-The Board of Appraisers apponted in 1907 to
Works.
determine the val ue of the plant of the Denver Union Water
Co. have fixed the total value of the property of that company at $14,400,000, consisting of physical plant $10,354,FROM THIS DEDUCT:
075, water rights $2,845,925 and going concern value
1. County bonds standing at the time of the consolidation.
2. Bonds issued to pay debts incurred for water supply since Jan. 1 1904.
is the result of the agree$1,200,000. This appraisement
estate
3. All sinking fund holdings (except a mortgage
and the water company on held in the sinking fund, which is regarded merelyon real asset).for $64,680
ment entered into by the city
as an
4. All cash held in various sinking funds.
Sept. 17 1907. This agreement, which was published in
full in V. 85, p. 1145, provided among other things that he5. The annual installment included in the budget for 1908 required to
paid into the sinking fund.
(after the appraisement had been made) a special election
6. Bonds whose payment was provided for in the budget of 1908.
issued to
7. All cash in the Treasury from unallotted proceeds of
to allow the voters to determine pay debts included in arriving at the indebtedness of thebondsunder the
should be held in the spring
city
whether the city should purchase the plant at the price fixed constitutional provision.
8. All cash on hand applicable to the liquidation of contract liability.
by the appraisers or whether the company should be granted
With the above as a basis, Gen. Tracy arrives at the
a new franchise for 20 years under a schedule of rates prefollowing statement:
pared by the appraisers.
PERMANENT BONDED DEBT.
-The Senate on
-Legislature to Adjourn on April 9.
Iowa.
and
old cities of
March 31 adopted the House joint resolution which provides Bonds issued by counties nowNew York city$218.892.070 36
in greater
Brooklyn and
for final adjournment of the Legislature on April 9.
Corporate stock issued since consolidation
477,930,425 84
for whatever purpose
-Election to Vote on Bonds for the General fund bonds
Kansas City, Kansas.
54,250,000 00
28,370,632 65
-A special election will be held Assessment,bonds
Purchase of Water Works.
Revenue bonds issued in anticipation of
May 4 to vote on the following propositions:
100,000 00
taxes of 1902
-To issue 4% 30-year bonds to pay the amount of the award
First.
made by the Commissioners previously appointed to appraise the plant
and property of the Metropolitan Water Company, sought to be acquired
by the city. The price fixed by the appraisers is $1,097,850 63 plus the
amount to be paid for revetment work at pumping station under the contract made by the Metropolitan Water Co. and fuel on hand at date of
transfer.
-To issue $400,000 “i% 30-year bonds for the purpose of
Second.
enlarging. Improving and extending the water-works system in the event
of the same being acquired by the city.
$779.543,128 85
Total permanent bonded debt
To which add obligations other than bonded indebtedness:
32.553.933 92
Contract liability
Net land liability
21,701,131 75
Interest on same
2,000,000 00
Judgments
198.426 08
Open market orders
78,293 96
Total other obligations
26,529,785 71
The bonds,if authorized,will be issued in denominations of
TOTAL INDEBTEDNESS
$806,072,914 56
$1,000 each and bear semi-annual interest. See V. 87, Deduct from this total:
County bonds and water bonds issued
p. 178.
since Jan. 1 1904, exempted by Con$54,976,533 77
stitution
, Los Angeles, Cal.-New Mayor Chosen at Recall Election.207,874,455 74
Sinking fund holdings
election held in this city on March 26 under the recall
An
Bonds payable in 1908, provision for
whose payment was made in the budOnn, of the city charter resulted in the election of
provio
get for that year,$ 820,825 47.and undeorge Alexander as Mayor to succeed ex-Mayor Harper.
allotted proceeds of bonds issued to
pay debts incurred, which are included
The recall provision, under the terms of which a city official
in indebtedness of the city under the
can be,compelled at any time to submit the question of his
constitutional provision, $15.923,744 14 16,744,569 61
Further deductions from contract liability 8,633,009 90
contiguance in office to the voters is in force in a number
of cities. It is aid, however, that this is the first instance
288,228,569 02
Total deductions
where the provisions have been invoked except in the case
debt limit
Net
of minor offieials. Mayor Harper, against whom the recall 10%debt as estimated for of real estate as appearing on 1907$517,844,345 54
of assessed valuation
election was directed, resigned before the date of the election.
assessment rolls
624,050,060 20
Marginal limit of constitutional indebtedness
106,205,714 68
-We have re1VIassachusetts.-Savings Bank Investments.
-We have reOmaha, Neb.-New Limit of Indebtedness.
ceived a letter from the office of the Bank Commissioner
in which it is-stated that numerous requests are being made ceived the following letter from Mr. Frank A. Furay, City
,at.that office. for,copies of the new list of savings bank in- Treasurer, bearing on this city's debt limit. It is proper to
vestments. The requests, according to the letter, are being say that we never made the remark attributed to us in this
956
THE CHRONICLE
LxxxvIII.
letter, namely, that the city was "going over its debt limit in
Denver, Colo.—Bond Call.—The following bonds will be
seeking to issue $200,000 more bonds." We print the letter, redeemed on April 30:
nevertheless, because we wish to place on record the fact
STORM SEWER BONDS.
that the city's debt limit has been enlarged.
Sub. Dist. No. 2 of the Capitol Hill Storm Sewer Dist. No. 1, Bond No. 5
Gentlemen.—Under date of 27th, Messrs. E. H. Rollins & Sons, bankers,
238 La Salle St., Chicago, Ill., write:
"The Commercial and Financial Chronicle" published a statement
recently that your city was going over its debt limit in seeking to issue
$200,000 more bonds."
The facts are: The Legislature of Nebraska now in session, under date
of Feb. 23 1909, passed Senate File No. 44, which was approved by the
Governor under date of Feb. 26 1909 with the emergency clause, and which
will be known as Section No. 196 of the charter governing cities of the
metropolitan class, reading as follows:
"The bonded debt shall not at any time exceed in the aggregate 5% of
the actual value of the taxable property within the corporate limits of the
city, such actual value to be determined by reference to the assessment
of property in said city."
All laws in conflict repealed.
It also provides that intersection and sewer bonds may be issued without
an election.
Please give this wide publicity, that no question as to the city's legal
rights to issue additional bonds exists.
Am having copies of bill struck off for distribution, a copy of which will
be mailed to you.
Yours truly,
FRANK A. FURAY,
City Treasurer.
We also print herewith the new Act referred to in the
above letter.
Be it Enacted by the Legislature of the State of Nebraska:
Section 1. That the second section numbered 195 of Chapter 12a of the
Compiled Statutes for the year 1907, the said section being found upon
page 255 of said Compilation, be amended so as to read as follows, and
be hereafter known as Section 196.
Section 196. The bonded indebtedness of the city exclusive of district
grading bonds, district improvement bonds, public library bonds, renewal
laonds, bonds issued fof the purpose of funding or taking up and making
payment of the floating indebtedness and liabilities of the city, or bonds for
the erection or purchase of a city hall, auditorium or fire engine houses, or
the construction or purchase, or for the construction and maintenance of
subways and conduits, or for park purposes, or for the purchase,construction or appropriation of gas works, water works, electric light plants or
power plants, shall not at any time exceed in the aggregate 5% of the
actual value of the taxable property within the corporate limits of the city,
such actual value to be determined by reference to the assessment of property in said city.
Section 2. That section 197 of Chapter 12a of the Compiled Statutes of
1907 be amended so as to read as follows:
Section 197. No bonds shall hereafter be issued in any one year in
excess of $250,000, except renewal bonds or bonds issued to be exchanged
for other bonds for the purpose of reducing the rate of interest, district
grading bonds, bonds for funding the floating indebtedness and district
street improvement bonds, intersection bonds, bonds for the construction
and maintenance of subways or conduits, or bonds for the purchase, construction and maintenance of gas works, water works, electric light plants
or power plants or land therefor, or land for public parks, parkways or
boulevards.
No bonds except district street improvement bonds, renewal bonds and
bonds in exchange for other bonds, district grading bonds and bonds for
funding the floating indebtedness, sewer bonds and intersection bonds
shall be issued until the electors of said city shall have authorized the
same by a two-thirds vote of electors of said city, voting on said proposition
at the general or special election of said city held after ten clays notice,
published in the official paper of the city, stating the maximum amount
proposed to be issued and stating definitely the purpose for which they
are to be issued. Provided, that bonds for water works may be authorized
by a majority vote of the electors of the city voting on such proposition
at a general election, or by a two-thirds vote cast on such proposition in
case it shall be submitted at a special election.
Section 3. That section 199 of Chapter 12a of the Compiled Statutes
for the year 1907 be amended so as to read as follows:
Section 199. Whenever the mayor and city council deem it expedient,
they shall have power, for the purpose of paying the cost of paving, repaving or macadamizing the intersections of streets and spaces opposite
alleys and in front of property not subject to assessment for public improvements, and for the purpose of paying for the construction of main sewers,
to issue bonds of the city to run not more than twenty years and to bear
interest payable semi-annually at the rate of not to exceed 5% per annum,
with coupons attached, said bonds to be called "Intersection Bonds" and
"Sewer Bonds" respectively, and which shall not be sold for less than par,
and the proceeds of which shall be used for no other purposes. The aggregate amount of such bonds issued in any one year for paying the cost of
paving, re-paving or macadamizing the intersections of streets and spaces
opposite alleys and in front of property not subject to assessment for public
Improvements shall not exceed the sum of $100.000, nor shall the aggregate
amount of bonds issued to pay the cost of constructing main sewers exceed
the sum of $100,000 in any one year.
Section 4. That said second section numbered 195 of Chapter 12a of the
Compiled Statutes for the year 1907, the said section being found upon
page 255 of said Compilation, and sections 197 and 199 of Chapter 12a of
the Compiled Statutes for the year 1907, as they now exist, ioe and the
same hereby are repealed.
Section 5. Whereas, there is an emergency existing demanding that
this Act shall take effect at once, therefore this Act shall take effect and be
in force from and after the date of its passage and approval by the Governor.
Washington.—Death of Governor.—Gov. Samuel G. Cosgrove died suddenly at 3:30 a. m. on March 28 at Paso
Robles. He had been elected last November and will be
succeeded by Lieutenant-Governor M. E. Hay, who has
been acting Governor since a few days immediately after
Mr. Cosgrove's accession to office.
Wyoming.—Creation of a Commissioner of Taxation.—The
1909 Legislature of this State passed an Act (Chapter 66,
Laws of 1909) creating the office of Commissioner of Taxation, who is to be appointed by the Governor with the
advice and consent of the Senate. The new commissioner
will have power and authority to exercise general supervision
over the administration of all assessment and tax laws, over
all county, town itnd city tax assessors and boards of equalization levy and assessment,to the end that taxation of all
'
property, real, personal and mixed, shall be made relatively
just and uniform, and at its true and full cash market value.
Assessors or boards failing to assess property in accordance
with this new law do so under penalty of forfeiture and removal from office. Heretofore property in the State is
understood to have been assessed at 33 1-3% of its actual
value.
Sub. Dist. No.8 of the Capitol Hill Storm Sewer Dist. No. 1, Bond Ho. 16.
Sub. Dist. No. 9 of the Capitol Hill Storm Sewer Dist, No. 1, Bonds
Nos. 19 and 20.
Sub Dist. No. 11 of the Capitol Hill Storm Dist, No. 1, Bond No. 16.
SANITARY SEWER BONDS.
East Side Sanitary Sewer Dist. No. 1, Bonds Nos. 21 to 27 inclusive.
Harman Special Sanitary Sewer Dist. No. 1, Bonds Nos. 17 and 18.
Highlands Special Sanitary Sewer Dist. No. 7, Bond No. 29.
North Denver Sanitary Sewer Dist. No. 5, Bond No. 23.
West Colfax Ave. Special Sanitary Sewer Dist. Bonds Nos. 21 and 22.
SIDEWALK BONDS,
Sidewalk Dist. No. 8, Bond No. 25.
Sidewalk Dist. No. 12, Bond No. 53.
South Broadway Sidewalk Dist. No. 2, Bond No, 18.
IMPROVEMENT BONDS.
Capitol Hill Improvement Dist. No. 4, Bonds Nos. 98 and 99.
East Colfax Ave. Improvement Dist. No. 1, Bond No. 48.
East Denver Improvement Dist. No. 1, Bonds Nos. 79 to 112, inclusive.
East Denver Improvement Dist. No, 2, Bonds Nos. 69 and 70.
Highlands Improvement Dist. No. 1, Bond No. 34.
North Side Improvement Dist. No. 1, Bonds Nos. 15 to 55 inclusive.
North Side Improvement Dist. No. 2, Bonds Nos. 11 to 13 inclusive.
South Broadway Improvement Dist. No. 2, Bonds Nos. 42 and 43.
South Capitol Hill Improvement Dist. No. 1, Bonds Nos. 23 and 24.
West Denver Improvement Dist. No. 1, Bonds Nos. 86 to 88 inclusive.
PAVING BONDS.
Lawrence St. Paving Dist. No. 1, Bond No. 5.
Twentieth Ave. Paving Dist. No. 1, Bonds Nos. 15 and 16.
SURFACING BONDS.
Surfacing Dist. No. 1, Bond No. 28.
Surfacing Dist. No. 3, Bond No. 38.
PARK BONDS.
Highland Park Dist. Bonds Nos. 242 to 244 inclusive.
Upon the request of the holders of any of the above bonds
received 10 days before the -expiration of this call, the City
Treasurer will arrange for their payment at the Mercantile
Trust Company, New York City, but not otherwise.
Grant County (P. 0. Milbank), S. D.—Bond Call.—This
county has given notice of its intention to exercise its option
on the following refunding bonds: Nos. 1, 22, 23, 24, 44
and 45. Denomination $1,000 each. Date April 6 1896.
Payment will be made at the Hanover National Bank in
New York City. Interest will cease May 24.
Tennessee.—Bonds Purchased for Redemption.—Arrangements have been made by the State Funding Board for the
purchase and cancellation of $70,000 3% settlement bonds.
The bonds were purchased, according to reports, at 97.
Hartford—South School District, Conn.—Bond Call—
Bonds Nos. 2, 9, 10, 13, 17, 28, 30, 36, 49 and 50 will be redeemed on May 1 at the Fidelity Trust Co. in Hartford.
Securities are dated May 1 1897.
Iberia and St. Mary's Drainage District(P.0. Jeanerette),
La.—Bonds Drawn.—On March 29 bonds Nos. 8, 39, 48
and 76 were drawn for payment.
Japan.—Bonds Drawn for Redemption.—On April 1
20,000,000 yen of the Japanese Government Exchequer bonds
(internal loan) Second Series (Mark C) issued in 1904 were
drawn for redemption on or after April 30 in Japan. A list
of the drawn bonds will be posted about May 1 by the
Yokohama Specie Bank, Ltd., in New York City. The
bonds will be purchased by this bank at the current buying
rate of exchange on Japan.
Morgan County (P. 0. Versailles), Mo.—Bond Call.—
Payment will be made on May 1 at the Franklin Bank of
St. Louis of 5% funding bonds Nos. 223, 224 and 225.
Denomination $500. Date May 1 1894.
Bond Proposals and Negotiations this week
have bean as follows:
Adams County (P. 0. West Union), Ohio.—Bond Sale.—
On April 6 the $14,000 4% 20-year coupon funding bonds
described in V. 88, p. 777, were awarded, it is stated, to
Hayden, Miller & Co. of Cleveland at 103.364 and accrued
interest.
The following bids were received:
Hayden,Miller&Co.,Clev.•$14,471 00 Jno. R. Sutterfleld, West
Union ($2,000 bonds)
Well, Roth & Co., Cinc•14,455 00
62,025 00
J. F. & S. W. Tuber West
Seasongood&Mayer, Cinc_ 14,
Union ($1,000 bonds)_ _ 1,010 00
A. Kleybolte & Co., Cinc_ 14,420 00
J. A. Collins, Dubarton
Security Savings Bank &
($1,000 bonds)
•14,387 50
Trust Co., Toledo
1,006 00
Otis de Hough, Cleveland_•14,365 15 F. M. Seaman, West Union
($1,000 bonds)
First Nat, Bank, Cleve_ _ _•14,289 00
1,006 00.
•14,070 00
Bank of West Union
• And accrued interest.
An offer was also received from B. F. Kimble of West
Union,
Alcester, Union County, So. Dak.—Bond Offering.—Proposals will be received until May 3 for $7,000 4% 20
-year
water-works bonds. Authority, vote of 73 to 37 at election
held March 15 1909.
Ashland, Clay County, Ala:—Bond Offering.—Proposals
will be received until May 2 (this date falls on Sunday, but isso given in the official advertisement) by 0. B. Cornelius,
Bond Calls and Redemptions.
Mayor, for $8,000 5% 20-year school-building bonds.
Abington Township, Montgomery County, Pa.—Bond
Ashtabula County (P.0.Jefferson), Ohio.—Bond Offering.
-improvement bonds will be paid
Call.—The following road
—In addition to the $12,000 Colebrook Township bonds toon May 1 at the Jenkintown National Bank in Jenkintown:
be offered at 1 p. m. on April 19, proposals will also be
Loan of 1893.
and R. C. Young, County ComClass D.—Nos. 19, 20 and 21, in denominations of $1,000; Nos. 60 to 64 received by J. C. Rodgers
inclusive in denominations of $500; and Nos. 231 to 251 inclusive missioners, at the same time and place, for $30,000 432 o
In denominations of $100.
coupon New Lyme Township road-improvement bonds.
Loan of 1894.
Authority Section 4670-19, Revised Statutes. DenominaClass G.—No. 440 In denomination of $500.
APR. 10 1909.1
THE CHRONICLE
tion $500. Date March 1 1909. Interest semi-annually at
the office of the County Treasurer in Jefferson. Maturity
$3,000 yearly on March 1 from 1910 to 1919 inclusive.
Certified check for $500, payable to B. E. Thayer, County
Treasurer, is required. Purchaser to pay accrued interest.
Attleboro, Mass.
-Note Sale.
-On April 6 $26,000 4%
notes for new streets and a soldiers' monument were disposed of at 101.152 to Graham, Moore & Co. of Boston at
101.152. The other bidders were:
Blodgett, Merritt & Co., Bos_100.771N. W. Harris & Co., Boston_100.298
Blake Bros. & Co., Boston_ _100.441
Denomination $1,000. Date Aug. 11908. Interest semiannual. Maturity $5,000 yearly from 1909 to 1912 inclusive
and $6,000 in 1913.
-ProAuburn, Nemaha County, Neb.-Bond Offering.
posals will be received until 8 p. m. April 12 by W. H.
111 onsfield, City Clerk, for the $54,000 water-works and
$21,000 5% sewer coupon bonds voted (V. 88, p. 699) on
March 2. Authority Section 39, Chapter 14, Laws of 1906.
Denomination $500. Date May 11909. Interest annually
at the fiscal agency in New York City. Maturity May 1
1929, subject to call after May 1 1914. Certified check
(or cash) on an incorporated bank or trust company for 3%
of bid, made payable to the City Treasurer, is required.
Total debt, thess issues. Assessed valuation 1908 $778,440.
-The following bids were received
-Bids.
Bayonne, N. J.
for the $175,000 43% 20-year funding bonds disposed of
on April 1 to Farson, on & Co. of New York City at 105.45.
Parson, Son & Co., N. Y_ _..105.45 Well, Roth & Co., Cincinnati.102.244
101.625
R. M. Grant & Co., N. Y__ _105.101 Kountze Bros., N. Y
H. L. Crawford & Co., N. Y.104.763 Mechanics' rrust Company,
101.372
Bayonne
A. B. Leach ec Co., N. Y___ _104.37
Denomination $1,000. Date April 1 1909. Interest
Jan. and July.
-The $1,300
-Bond Sale.
Bee County (P.0.Beeville),Tex.
-40-year (optional) bridge-repair bonds registered by
4% 5
the State Comptroller on Feb. 11 (V. 88, p. 578) have been
purchased by the County School Fund.
Beloit School District (P.0. Beloit), Rock County, Wis.Correction.-The statement that this district is offering
for sale $130,000 school bonds (V. 88, p. 838)is erroneous.
Berea, Cuyahoga County, Ohio.
-The follow-Bond Sale.
ing award was made on April 5 of the two issues of 5%
coupon bonds described in V. 88, p. 895:
$10,500 Beech Street improvement bonds awarded to Seasongood & Mayer
of Cincinnati at 105.27. Maturity from April 1 1910.to Oct. 1
1919 inclusive.
2,500 East Grand Street improvement bonds awarded to Hayden, Miller
& Co. of Cleveland at 101.60. Maturity from Oct. 1 1910 to Oct. 1
1918.
Purchasers to pay accrued interest.
-ProBerlin, Worcester County, Md.-Bond Offering.
posals will be received until 12 m. to-day (April 10) by the
Mayor and Council for $25,000 5% coupon water and electriclight bonds. Denominations: 50 bonds of $100 each and 40
bonds of $500 each. Date Jan.1 1909. Interestsemi-annually
at the Exchange & Savings Bank in Berlin. Maturity $500
yearly from July 1 1914 to July 1 1963 inclusive. Bonds are
exempt from all taxes with the exception of those levied by
the State. Purchaser to pay accrued interest. The city
has no debt at present. Assessed valuation for 1909,
$750,000.
Binghamton, Broome County, N. Y.
-Bond Sale.
-On
April 7 the $20,000 4% registered school-improvement bonds
described in V. 88, p. 895, were awarded to the Binghamton
Savings Bank of Binghamton for $20,012 25 (100.061) and
accrued interest. A bid of $20,000 was also received from
the First National Bank of Cleveland. Maturity $5,000
yearly on Aug. 1 from 1913 to 1916 inclusive.
-Bond Of
fering.-ProBlaine County (P. 0. Halley), Ida.
posals will be received until 10 a. m. April 14 by W. F.
Horne, County Clerk, for $14,000 6% gold coupon refunding
bonds. Authority, Chapter 68 of the Idaho Codes. Denothinations $1,000 and $100. Date July 11909. Interest
semi-annually in New York. Maturity one-tenth yearly
beginning July 1 1919. Bonds are exempt from all taxation.
Braintree, Mass.
-Temporary Loan.-This town has
issued $40,000 notes in anticipation of taxes to Estabrook
& Co. of Boston at 3.01% discount. Maturity $20,000 on
Dec. 15 1909 and $20,000 on Dec. 22 1909.
Boonville School District No. 1 (P. 0. Boonville), Oneida
-Bonds Voted.
County, N. Y.
-The election held April 3
resulted in a vote of 280 "for" to 234 "against" the proposition to issue the $40,000 school-building bonds mentioned
in V. 88, p. 778. Details of bonds and date of offering not
yet determined.
-Bond Sale.
-The following 33% regisBoston, Mass.
tered bonds, aggregating $2,983,000, were awarded on
April 8 to Kountze Bros. of New York City at 103.033
and accrued interest:
$300.000 Boston Tunnel and Subway bonds, due Aprll 1 1949.
250,000 highway bonds due April 1 1929.
50,000 Northern Ave. and Sleeper St., due April 1 A930.
89,000 Hyde Park Ave. bonds. due April 1 1939.
350,000 Rapid Transit (Cambridge Connection) bonds due Apr. 1 1949.
1,000,000 School (land and buildings) bonds due April 1 1929.
684,000 drainage bonds due April 11939.
300,000 sewerage bonds due April 1 1939.
The other bids were as follows:
957
Blodgett. Merritt & Co., R. L. Day & Co., Estabrook & Co.
and N. W. Harris & Co
102.198 & int.
101.837 & int.
A. B. Leach & Co. and E. H. Rollins & Sons
101.642 & int*
Blake Bros. & Co. and Harvey Fisk & Sons
100.41 & int.
H. C. Wainwright
Massachusetts Bonding & Insurance Co.
102.73 & int.
$50,000 R. T. (Cambridge Connection)
102.35 & int.
$50,000 Sep. System of Drainage
101.81 & int.
$50,000 School (land and buildings)
Perry, Coffin & Burr
$300,000 Boston Tunnel and Subway
)101.09 & int.
$350,000 R. T. (Cambridge Connection)
Columbian National Life Ins. Co., $55,000 School (L. ec B.)_$56,680 80
Denomination $1,000 or any multiple thereof. Date
April 11909. Interest semi-annually at the office of the
City Treasurer.
-We are
Brawley, Imperial County, Cal.
-Bond Election.
informed that the election to vote on the question of issuing
the $50,000 water-works and fire-fighting-apparatus bonds
mentioned in V. 88, p. 320, will not be held before late in
the summer or fall.
Brewton, Escambia County, Ala.
-Bonds Voted.
-This
city on March 20 voted, it is stated, to issue bonds to install
new machinery for the light and power plant.
-Proposals will be received
Buffalo, N. Y.
-Bond Offering.
until 12 m. April 14 by Geo. M. Zimmermann, City Comptroller, for the following 4% registered bonds:
$500,000 water bonds. Authority Chapter 203 of the Laws of 1906 as
amended by Chapters 84 and 724. Laws of 1907. Maturity
April 15 1959.
300,000 grade-crossing bonds. Authority Section 16, Chapter 345,
Laws of 1888. Maturity April 15 1929.
Date April 15 1909. Interest semi-annually at the City
Comptroller's office in Buffalo or at the Gallatin National
Bank in New York City, as purchaser may elect. Bonds
are exempt from taxation. Unconditional certified check
on an incorporated bank or trust company for 2% of bonds
bid for, payable to the City Comptroller, is required.
Bond Issue.
-The issuance of a $17,200 4% bond dated
April 1 1909 has been authorized. Under the terms of the
ordinance the bond is to be taken at par by the City Comptroller in trust for the Erie Railroad Grade Crossing Bond
Sinking Fund. Interest and principal are payable July 1
1910 at the City Comptroller's office.
-During the month of March the
Bond Sales for March.
following 4% bonds, aggregating $31,988 91, were dipsosed
of to the various sinking funds at par:
$6,393 07 temporary-loan bonds dated March 1 1909. Maturity July 1 '10.
225 00 temporary-loan bonds dated Feb. 23 1909. Maturity July 1'10.
10,611 84 monthly -local-work bonds dated March 15 1909. Maturity
March 15 1910.
1,000 00 temporary-loan bonds dated March 15 1909. Maturity July 1 '10.
13,500 00 temporary-loan bonds dated March 15 1909. Maturity July 1 '10.
259 00 temporary-loan bonds dated March 8 1909. Maturity July 1 '10.
Burleson Independent School District (P. 0. Burleson),
Johnson County, Tex.
-Bond Election.
-An election will be
held April 24 to vote on the question of issuing $17,000 (not
$20,000, as first reported) 5% public-school-building bonds.
Cambridge,Furnas County, Neb.-Description of Bonds.
We are informed that the $25,000 5% 5-20-year (optional)
water bonds disposed of "about March 18' to the First
National Bank of Cambridge, at par (V. 88, p. 838), are
dated Jan. 2 1909. Denomination $1,000. Interest annual.
-C. A.
-Bond Sale.
Canton, Haywood County, No. Caro.
Webb & Co. of Asheville have purchased $50,000 6% and
$15,000 5% 30-year water, sewer and street-improvement
bonds at par. Denomination $1,000. Date Feb. 1 1909.
Interest semi-annual.
-On March 13
Carthage, Jasper County, Mo.-Bond Sale.
the $220,000 5% gold coupon water-works bonds declared
valid by the State Supreme Court on March 9(V. 88, p. 777)
were disposed of to McCoy & Co. of Chicago for $221,500
the price thus being 100.683. Denomination $500. Date
April 1 1908. Interest semi-annUal. Maturity April 1 1928,
subject to call $50,000 after 5 years, $75,000 after 10 years
and $95,000 after 15 years.
-On
Cass County (P. 0. Fargo), No. Dak.-Bond Sale.
April 6 about $60,000 6% drainage assessment bonds were
Merchants'
disposed of to the Northern Trust Co. and the
National Bank, both of Fargo, for a premium of $456 60.
Bids were also received from the Wells & Dickey Co. of
Minneapolis, Wm. R. Compton Bond & Mortgage Co. of
St. Louis, Security Savings Bank & Trust Co. of Toledo,
S. A. Kean of Chicago, New First National Bank of Columbus
and Kane & Co. of Minneapolis. Denomination $500.
Date April 1 1909. Interest semi-annual. Maturity part
yearly on April 1 from 1911 to 1919 inclusive.
-Bond Offering.-ProOatasauqua, Lehigh7County, Pa.
posals will be received until 7 p. m. April 19 by Dr. H. H.
Riegel, Burgess, for $80,000 47 coupon water-works bonds.
Denominations: 80 bonds of $100 each and 144 bonds of
$500 each. Date May 11909. Interest semi-annually at the
National Bank of Catasauqua. Maturity on May 1 as
follows: $8,100 in 1914, $9,700 in 1919, $11,600 in 1924,
$14,000 in 1929, $16,800 in 1934 and $19,800 in 1939.
Bonds are exempt from taxation. Delivery on or before
May 1 1909.
-The
-Bond Sale.
Chandler, Lincoln County, Okla.
$25,000 5% 25-year sewer bonds proposals for which were
asked until March 30 (V. 88, p. 838) were sold to the Trowbridge & Niver Co. of Chicago at 103.43-a basis of about
4.764%. Following is a list of the bids received:
958
Trowbridge & Niver Co..
___ _ _$25,857 50
Chicago __
John Nuveen & Co., Chic_ 25,455 00
25,250 00
S. A. Kean, Chicago
G. I. Gilbert, Okla. City_ 25.160 00
THE CHRONICLE
C. E. Denison & Co.. Clev.$25,153 00
Ulen Sutherlin de Co.,
25,150 00
Kansas City, Mo
25,062 00
Farson. Son & Co., Chic
W.J. Hayes & Sons, Clev. 25,007 00
A bid was also received from the W. H. MacCreery Investment Co. of Kansas City. Denomination $1,000. Date
April 1 1909. Interest Jan. and July.
Charlotte County (P. 0. Charlotte Court House), Va.-Proposals will be received until 12 m. May10
Bond Offering.
for $40,000 permanent road-improvement bonds. Authority
vote of 430 to 140 at election held Jan. 14 1909. Maturity
forty years, subject to call after twenty years.
Clay School District(P.0. Clay), Webster Oonuty, Ky.---A proposition to issue $5,000 6% building
Bonds Voted.
and apparatus bonds carried by a vote of 122 to 22 at an
election held April 1. Interest semi-annual. Maturity
1919, subject to call at option of the Board of Trustees.
-Bond Offering.
Clermont County (P.0. Batavia), Ohio.
Proposals will be received until 12 in. April 12 by the County
4% coupon "Toll Pike Purchase"
Commissioners for $8,500
bonds. Authority Chapter 97 of Ohio Laws, pages 131 and
132, and Section 4875-1 to Section 4875-5 inclusive of the
Revised Statutes. Denomination $500. Date March 1
1909. Interest semi-annually at the office of the County
Treasurer in Batavia. Maturity $500 yearly on March 1
from 1910 to 1926 inclusive.. Bonds are exempt from taxation. Certified check for $200, payable to the County
Treasurer, is required. Successful bidder to furnish blank
bonds free of charge.
-Local papers state that
-Bond Election.
Cleveland, Ohio.
an election will be held April 20 to vote on the question of
issuing bonds for the following purposes: $350,000 for
Central Viaduct repairs and $250,000 for a tuberculosis
sanitarium and $1,675,000 for the reconstruction of the
Superior viaduct.
-On Feb. 23 the City Council passed
Bonds Authorized.
ordinances providing for the issuance of the following coupon
bonds:
$171.000 5% street-improvement assessment bonds. Date May 1 1900.
and
$38,000 yearly on
Maturity $19,000 on Nov. 1 1909
Nov. 1 from 1910 to 1913 inclusive.
324,000 5% street-improvement assessment bonds. Date May 1 1909.
Maturity $836,000 on Nov. 1 1909 and $72,000 yearly on
Nov. 1 from 1910 to 1913 inclusive.
Denomination $1,000. Interest semi-annually at tile
American Exchange National Bank of New York City.
-Seven issues of 4% coupon refunding sewer
Bond Sale.
district bonds, aggregating $139,000, were disposed of last
month to the Sinking Fund Trustees at par. Denomination
$1,000. Interest semi-annually at the American Exchange
National Bank in New York City. Maturity April 11919.
-Bonds Defeated.-The
Olio, Marlboro County, S. C.
-year railroad-aid bonds (y. 88, p. 579) were
$5,000 6% 10
defeated by a vote of 63 "for" to 13 "against" at the election
held March 20.
-Bond Offering.
Oocke County (P. 0. Newport), Tenn.
Proposals will be received until 2 p. in. April 17 by B. W.
Hooper, Secretary of the Pike Commission, for $200,000 5%
coupon road bonds. Authority Chapter 37, Acts 1909.
Denomination $500. Date April 11909. Interest on Jan. 1
and July 1 at the office of the County Trustee at Newport.
Maturity on April 1 as follows: $20,000 in 1919, $30,000 in
1924 and $50,000 in each of the years 1929, 1934 and 1939.
Certified check for $5,000, payable to the Cocke County
Pike Commission, is required. Purchaser to pay accrued
interest.
Cody, Bighorn County, Wyo.-Bond Election.---Although
the date has not been decided, this city intends to hold an
election to vote on the question of issuing $75,000 water
and sewer bonds.
Conde Independent School District No. 32 (P. 0. Conde),
Spink County, So. Dak.-Bond Offering.-Proposals will be
received until 8 p. m. April 17 by H. J. Hall, District Clerk,
for $10,000 20-year school bonds at not exceeding 6% interest. Interest annual. Certified check for $500 is required.
-Vote on Consolidation.
Connellsville-New Haven, Pa.
The vote cast at the election held Feb. 16, whIch resulted
in favor of the proposition to consolidate these boroughs
into Greater Connellsville (V. 88, p. 518), follows: In New
Haven, 246 "for" to 134 "against," and in Connellsville
10,265 "for" to 129 "against."
-The First National Bank of
-Bond Sale.
Corinth, Miss.
Corinth was the successful biddder on April 1 for the $25,000
0,5
57 -20-year (optional) coupon bonds described in V. 88,
p. 779. The price paid was 100.40.
Cuyahoga County (P. 0. Cleveland), Ohio.--Bond Sale.
On April 7 the $ 667,000 4% coupon MasticRoad Bridge
bonds described in V. 88, p. 779, were awarded to Hayden,
Miller & Co. of Cleveland at 101.329 and accrued interest.
Following is a list of the offers received:
Hayden,Miller & Co.,Cleve_$875,8661Cleveland Tr. Co., Cleve.... $574,003
Otisgc Hough, Cleveland_ _ _ 675,0001
Maturity on Oct. 1 as follows: $35,000 yearly from 1910
1926 inclusive and $36,000 in each of the years 1927 and
to1928.
-Bids.
-The fol' Darke County (P. 0. Greenville), Ohio.
lowing bids were received on Feb. 25 for the $10,000 5%
bridge-construction bonds awarded on that day, to the
Second National Bank of Greenville (V. 88, p. 580):
Lxxxvm.
Second Nat. Bk., Greenv $10,210 0010tls & Hough, Cleveland.$10,127 00
First Nat. Bk., Cleveland_ 10,184 00 First National Bank, Ar10,098 50
Seasongood do Mayer, Cln 10,141 751 canum
-An
Dawson, Fayette County, Pa.
-Bonds Defeated.
issue of $15,000 sewer and street bonds was defeated at a
recent election.
Decatur School District (P. 0. Decatur), Ill.-Bond Sale.
-This district, it is stated, has awarded the $160,000 4%
20-year high-school-building bonds mentioned in V. 88,
p. 700, to the Farwell Trust Co. of Chicago.
Denver-G:eeley Valley Irrigation, District, Adams and
-Bonds Offered by Bankers.
-The
Weld Counties, Colo.
Trowbridge & Niver Co. of Chicago is offering for sale
$2,000,000 6% bonds. Denomination $500. Date April 5
1909. Interest June 1 and Dec. 1 at the offices of the
treasurers of Adams and Weld counties or at the American
Trust & Savings Bank of Chicago at option of the holder.
Maturity on April 5 as follows: $100,000 in 1920; $120,000
in 1921; $140,00 in 1922; $160,000 in 1923; $180,000 in 1924;
$200,000 in 1925; $220,000 in 1926; $260,000 in 1927;
$300,000 in 1928 and $320,000 in 1929.
East Cleveland (P. 0. Cleveland), Cuyahoga County,
-According to reports, two issues of bonds
-Bond Sale.
Ohio.
were recently disposed of on April 6 as follows:
$5,500 4% 20-year sewer bonds awarded to Seasongood & Mayer of Cincinnati at 101.88.
22,200 5% 5 1-3 year (average) street-improvement bonds awarded to
C. E. Denison & Co. of Cleveland for $22.828 75-the price
thus being 102.832.
-On April 1
Elberton, Elbert County, Ga.-Bond Sale.
John W. Dickey of Augusta was awarded the $35,000 schoolbuilding and the $5,000 electric-light-system 5% coupon
bonds described in V. 88, p. 839, at 108.125. About twenty
bids were received. The former issue matures on Jan. 1 as
follows: $5,000 in each of the years 1929, 1930 and 1931
and $10,000 in each of the years 1938 and 1939, while the
latter issue is due Jan. 11939.
-Price Paid for Bonds.
Elk City, Beckham County, Okla.
The price paid for the following 6% 20-year bonds recently
sold (V.88, p. 839) was 102 and accrued interest: $23,000 for
water improvements, $6,000 for sewers and $6,000 for a city
hall; Date March 11909. Interest semi-annual.
-Bonds Voted.
Ellis County Drainage District No. 1, Tex.
-Reports state that the County Commissioners have authorized the issuance of $40,000 5% 40-year improvement
bonds.
Elyria, Lorain County, Ohio.-BondSale.-The following
bids were received for $20,000 4% coupon water-system
improvement (Series "J") bonds proposals for which were
asked until April 5:
First Nat. Bank. Cleveland_$20,321 New First Nat. Bk., Columb.$20,130
Kleybolte & Co., Cincinnati_ 20,220 W. R.Todd & Co., Cincinnati 20,027
Otis & Hough, Cleveland__ 20,140
Denomination $1,000. Date March 1 1909. Interest
semi-annually at the U. S. Mortgage & Trust Co. in New
York. Maturity $2,000 yearly on March 1 from 1918 to
1927 inclusive.
Fort Worth School District (P. 0. Fort Worth), Texas.
-The School Board has petitioned the City
Bonds Proposed.
Commission to authorize the issuance of $200,000 schoolbuilding and site-purchase bonds.
Fredonia School District (P. 0. Fredonia), Chautauqua
-The election held March 1
-Bonds Defeated.
County, N. Y.
(V. 88, p. 461) resulted in the defeat of the proposition to
issue $50,000 school-building bonds. The vote was 193 "for"
to 420 "against."
-No Bond Election.
-On
Gadsden, Etowah County, Ala.
March 23 the City Council passed an ordinance rescinding
the one providing that an election be held March 26 to vote
on the question of issuing the $75,000 5% 30-year school
bonds mentioned in V. 88, p. 641.
-On April 6 the $70,000 notes
-Note Sale.
Gardner, Mass.
mentioned in V. 88, p. 896, were awarded to the First National Bank of Boston at 3% discount. Maturity $10,000
on each of the following dates in 1909: Oct. 4, Oct. 11,
Oct. 18, Oct. 25, Nov. 1, Nov. 8 and Nov. 15.
Gary School District (P. 0. Gary), Lake County, Ind.
-This district, according to reports, has
Bond Sale.
awarded $50,000 bonds to the First National Bank and
$5,000 bonds to the Gary State Bank.
-The $8,000
Glasgow, Howard County, Mo.-Bond Sale.
5-20-year (optional) gold coupon water-works bonds, proposals for which were asked until April 2 (V. 88, p. 840),
were awarded to the Wm. R. Compton Bond & Mortgage
Co. of St. Louis at 100.843 for 5s. Purchaser to pay accrued
interest and furnish blank bonds. The following prop osals
were received:
For 5%
Bonds.
Wm. R. Compton Bond dc
Mtge. Co., St. Louis_ _ _•$8,067 50
Whitaker & Co., St. Louis_ 8,081 00
Farwell Trust Co.. Chicago.. 8,034 00
A.G.Edwards & Sons, St.L.'8,012 00
Mercantile Trust Co., St. L.18,010 75
For 6%
Bonds.
W.J. Hayes dc Sons, Cleve_18,274 40
First Nat. Bank, Cleveland 8,240 00
S. A. Kean, Chicago
8,208 00
First Nat. Bank, Barnesville 8,101 00
John Nuveen & Co., Chic_ _4,091 00
Farson, Son & Co Chicago 8,008 09
* Also furnish bonds.
-Bond Election.
-An election
Globe, Gila County, Ariz.
will be held April 14 to vote on the question of issuing $275,000 53,4% sewer and water bonds. Reports state that these
bonds, if voted, will be taken by Ulen, Sutherlin & Co. of
Agit/AAA
Kansas City at par.
APR. 10 1009.)
THE CHRONICLE
959
Grand Forks, No. Dak.-Warrant Offering.
-Proposals
Lexington, Dawson County, Neb.-Bond Sale.
-On
will be received until 5 p. m. April 12 by W. H. Alexander, March 19 $16,000 51 5
-20-year (optional) sewerage and
City Auditor, for S65,000 (more or less) 7% Sewer District drainage bonds dated July 1 1908 were sold to Spitzer & Co.
No. 10 assessment warrants. Denomination $1,000 or less. of Toledo at par. Denominations $1,000 and $500. Interest
Interest annual. Maturity as follows: $20,000 on demand annual.
and $3,000 yearly on June 1 from 1914 to 1928 inclusive.
Lima School District (P.0. Lima), Allen County, Ohio.
Certified check for 5% of bid is required.
Bond Offering.
-In addition to the $22,000 school bonds to
Grand Junction, Mesa County, Colo.
be offered at 12 in. April 12 (V. 88, p. 781) proposals will
-Bonds Authorized.
The City Council has voted, it is stated, to issue $65,000 also be received at the same time and place by G. A. Herrett,
refunding water bonds.
Clerk Board of Education, for $6,000 refunding bonds
Election on Commission Form of Government.
-An election These securities answer the following description:
will be held April 6,it is also reported, to vote on the question ;22.000 5% coupon school-building bonds. Authority Section 3994,
Revised Statutes. Maturity ;1,000 yearly on April 12 from
of a commission form of government.
1910 to 1931 inclusive.
6,000 5% coupon refunding bonds. Authority Section 2834a. Revised
Graymont (P. 0. Birmingham), Ala.
-The
-Bond Sale.
Statutes. Maturity $1,000 yearly on April 12 from 1910 to
$10,000 school and $10,000 sanitary-sewer 5% 20-year bonds
1915 inclusive.
voted on Feb. 15 (V. 88, p. 580) were sold on Feb. 27.
Denomination $1,000. Date April 12 1909. Interest
Harrison School District No. 23(P.0. Harrison), Madison semi-annually at the City Treasurer's office. Certified check
County, Mont.
-Bond Offering.
-Proposals will be received for $1,000, payable to the Board of Education, is required.
until 6 p. m. April 12 by the Board of Trustees, at the office
Logan, Ohio.
-Bond Sale.
-On March 30 the $5,000 4%
of W. H. Geer, District Clerk, for $3,000 5% coupon bonds. 1-10-year (serial) water-works-system
-improvement bonds
Interest semi-annual. Maturity $1,000 in three years, described in V. 88, p. 641 were sold, it is
stated, to the
$1,000 in six years and $1,000 in nine years.
Rempel Banking Co. of Logan at 100.60.
-Proposals will be
Hoboken, N. J.
-Bond Offering.
Lowell, Mass.
-Temporary Loan.
-Reports state that
received until 4 p. m. April 28 by the Mayor and City this city has borrowed $200,000 from Bond & Goodwin of
Boston at 3% discount and $47 premium. Maturity
Council for $50,000 4% coupon or registered playground
bonds. Denomination $1,000. Interest semi-annual. Ma- seven months.
Mart, McLennon County, Tex.
-Bond Sale.
-On April 5
turity thirty years. Certified check or cash for 5% of bid the $50,000
5% 20
-40-year (optional) water-works bonds,
is required. James H. Londrigan is City Clerk.
described in V.88, p. 781, were awarded to the First National
The official notice of this bond offering will be found among Bank of Mart at 105.
the advertisements elsewhere in this Department.
Mason County (R. o. Mason), Tex.
-Bonds Voted.
-A
Hudson County (P. 0. Jersey City), N. J.
-Bond Offering. proposition to issue $40,000 5% 10-40-year (optional)
court-house-construction bonds carried at an election held
-Proposals will be received until 4 p. m. April 21 by the March
27. The vote was about 300 "for" to about 40
Board of Chosen Freeholders, Walter O'Mara, Clerk, for "against". These securities will be offered for sale about
the following 4% gold coupon (with privilege of registration) June 1.
bonds:
Millbury School District (P. 0. Millbury), Wood County,
$1,000.000 Hudson County Park bonds. Authority an Act of the Legisla- Ohio.
-Bond Sale.
-On April 5 the $10,000 43i% 1-10-year
ture approved May 6 1902. Maturity May 1 1959. The
genuineness of these bonds has been certified to by the United (serial) building bonds described in V. 88, p. 781, were
States Mortgage & Trust Co. of New York City and their awarded to Hayden, Miller
& Co. of Cleveland at 102.11 and
legality approved by Delafleld & Longfellow of New York City.
-a basis of about 4.080%. A list of the
890.000 court-house-construction bonds. Authority an Act of the accrued interest
Legislature approved March 19 1901 and the Acts amendatory bids received follows:
and supplemental
thereto.
Maturity May 1 1949.
The above bonds are dated May 1 1909. Interest semiannual. A bank or certified check on some national bank
or trust company for 1% of bid, made payable to Stephen
M. Egan, County Collector, is required.
The official notice of this bond offering will be found among
the advertisements elsewhere in this Department.
Independence, Montgomery County, Kans.-Bond Sale.
The following bids were received for the $40,000 5% 10-30year (optional) sewer bonds offered on April 1 (V.88, p. 780):
A. B. Leach & Co. Ohio_ 342.030 00
Wm. R. Compton Bond &
'
Mortgage Co. St. Louis 41,874 00
John Nuveen 1fcCo., Chic_ 41,805 00
'
Woodin, McNear & Moore.
Chicago
41,640 00
R.W.Morrison Inv.Co.,KC.$41,613 00
Fisk & Robinson, Chicago 41.532 00
Security S.B.& Tr.Co.,Tol. 41,275 00
Spitzer de Co., Toledo__ 40.500 00
Farson, Son & Co.. Chic__ 40,222 50
An offer was also received from G. T. Guernsey of Independence. All bidders offered accrued interest in addition
to their bids.
Jackson County (P.0.Independence), Mo.-Bids Rejected.
-All bids received on March 31 for the $250,000 4% 5
-20year (optional) coupon hospital bonds described in V. 88,
p. 780, were rejected. The bonds will now be offered at
private sale.
Kersey, Weld County, Colo.
-Bond Sale.
-An issue of
$5,000 6% 10-15-year (optional) gold coupon water bonds
has been awarded to Wm. E. Sweet & Co. of Denver. Denomination $1,000. Date April 1 1909. Interest semiannually, payable at the office of Kountze Bros. in New York
City. Bonded debt, this issue.
Kershaw County (P.0.Camden),So. Caro.
-Bond Sale.
On April 5 the Southern National Bank of Wilmington
purchased the $40,000 5% 25-year coupon bridge-building
bonds described in V. 88, p. 780, at 109.15 and accrued
interest
-a basis of about 4.394%. Twenty bids were
received ranging in price from $40,018 to $43,660.
Kimball, Neb.-Bond Sale.
-On April 3 the $16,000 6%
-20-year (optional) registered water-works bonds described
5
in V. 88, p. 840, were awarded to the Farwell Trust Co. of
Chicago at 102.30 and accrued interest. Following are the
bids:
Farwell Trust Co., Chtcago_;16,376 J. H. Causey & Co. Denver-$16,000
16,177
Spitzer & Co., Toledo
Lawrence County (P. 0. ronton), Ohio.
-Bond Sale.
The $50,000 4% turnpike bonds described in V. 88, p. 897,
were awarded on April 7 to Seasongood & Mayer of Cincinnati at 103.688 and accrued interest. The following
proposals were received:
Seasongood & Mayer. Clna$51.844 00
Well, Roth & Co.. Cin_ a51,503 40
Union Say.B.&T.Co.,Cin. a51,385 00
Oent.Tr.&S.D.Co.. Cin__ a51,275 00
Barto Scott & Co., Colum.a51,265 00
Rudolph Kieybolte Co.
Inc., Cincinnati
a51,265 00
Otis & Hough. Cleveland. a51.077 85
C. E. Denison & Co.,Cleva$50,905 75
Clev. Tr. Co., Cleveland. a50,892 50
hfcCoy & Co., Chicago.... a50,753 00
Mb. Kleybolte de Co • Cin. 50.775 00
Fifth-Third Nat.Bk., Cin.a50,607 50
First National Bank.
Ironton
a50,325 00
First Nat. Bk.. Cleveland a50,254 00
Maturity $5,000 each six months from March 1 1924
to Sept. 1 1928 inclusive.
Hayden, Miller & Co.. Cleve-$10,211
Sec. Say. Bk. & Tr. Co.. ToL 10,180
Rodgers & Sons. Chagrin Falls 10,177
Otis & Hough, Cleveland_ __ 10,156
New First National Bank,
Columbus
10,129
First Nat. Bank. Cleveland..$10.123
W.R.Todd de Co., Cincinnati 10.101
W. J. Hayes de Sons. Cleve__ 10.097
Hoehier & Cummings, Toledo 10,087
First National Bank. Bowling
Green
10,000
Modesto, Stanislaus County, Cal.
-Bond Sale.
-On
March 31 $15,000 fire, $15,000 water, $15,000 sewer and
$20,000 street-improvement 5% gold coupon bonds were
sold. The State of California was the successful bidder,
paying 107.50 and accrued interest. The bids received
were as follows:
State of California
;69.875 00
James H. Adams de Co..
Los Angeles
69,767 00
W. R. Staats & Co., Pamdena
69,368 50
G. Blander de Co
69.108 00
J. D Bradley
$69.100 00
Barroll & Co.. Los Angeles 68,987 50
E. H. Rollins & Sons. San
Francisco
68,776 50
Oakland Bank of Savings.
Oakland
68,660 00
All bidders offered accrued interest in addition to their
bids. Denomination $500. Interest June 1 and Dec. 1
in Modesto. Maturity on Dec. 1 as follows: $2,000 yearly
from 1909 to 1912 inclusive; $3,000 yearly from 1913 to
1925 incl., and $6,000 yearly from 1926 to 1928 inclusive.
Montcalm. County (P.0. Stanton), Mich.
-Bonds Defeated.
-The $50,000 building bonds (V. 88, p. 396) were defeated
at the election held April 6.
Morgantown School District (P. 0. Morgantown),Monongalia County, W. Va.-Bond Election.
-An election will
be held May 8 to vote on the question of issuing $100,000
school bonds.
Morristown, Tenn.
-Bond Sale.
-During the early part
of March the Harris Trust & Savings Bank of Chicago was
awarded $25,000 5% 20-year water bonds dated April 1 1909.
Mountrail County(P.O.Stanley), No. Dak.-Bond Sale.
On April 3 $15,000 6% 2-year bonds to buy seed grain were
awarded to the Osage National Bank of Osage at 101. A
bid of $15,010 50 was also received from the Wells & Dickey
Co. of Minneapolis. Denomination $500. Date April 1909,
Interest semi-annual.
Narberth, Montgomery County, Pa.
-Bond Election.
An election will be held April 20 to vote on the question of
issuing $27,000 road-improvement bonds.
Nebraska (State of).
-School Bonds Purchased by State
Funds.
-Purchases of school district bonds made by State
Funds amounted to $54,700 in February and $35,750 in
March.
Nevada, Story County, Iowa.-Bond Election.
-An
election will be held April 26 to vote on the question of
issuing $20,000 sewer bonds.
Newman, Stanislaus County, Cal.
-Bond Election.
An election will be held May 4 to vote on a proposition to issue
$20,000 water-works bonds.
Newnan, Ooweta County, Ga.-Bond Election.
-An eleotion will be held April 17 to vote on the question of issuing
$16,000 5% school-improvement bonds. Date July 11909.
Interest semi-annual. Maturity $2,000 In even years from
1912 to 1920 inclusive.
THE CHRONICLE
960
-Bonds Not to be Re-offered at Present
New Orleans, La.
Up to March 19 this city had not yet decided when the
$4,000,000 4% coupon public-improvement bonds and the
$200,000 school-teachers' salary bonds offered without success on Feb. 9 (V. 88, p. 463) would again be placed on the
market.
Newport, Ky.-Bond Offering.-Proposals will be rereived until 5 p. m. April 12 by Chester A. Keslar, City
Auditor, for the following coupon bonds:
$2,800 5% sewer bonds. Denominations $500 and $100. Interest semiannually at the City Treasurer's office. Maturity Jan. 1 1930
81,000 4% water-works bonds. Denomination $500. Interest semiannually at the City Treasurer's office or at the Bank of America
In New York City. at the option of the bidder. Maturity
Jan. 1 1939.
Date Jan. 1 1909. Certified check for 5% of bonds bid
for, payable to the City Treasurer, is required.
New Rippey (P. 0. Rippey), Greene County, Iowa.
-This town authorized the issuance of $7,000
Bonds Voted.
bonds on March 29 by a vote of 91 to 35.
-On April 6 the $55,000
-Bond Sale.
New Rochelle, N. Y.
434% registered school bonds described in V. 88, p. 841,
were awarded to Wadsworth & Wright of New York City
at 105.60. A list of the proposals received follows:
Wadsworth & Wright,N.Y.$58,080 00
Ferris & White, N. Y.. ___ 57,844 05
First Nat. Bank, Cleve_ _ _ 57,761 00
Parkinson & Burr, N. Y__ 57,705 13
W. N.Coler & Co., N. Y__ 57,856 50
N. W.Harris & Co., N. Y_ 57,495 35
R. M. Grant & Co., N. Y457,458 50
Kountze Bros., New York 57,425 50
Ed.Seymour & Co., N. Y. 56,795 75
Farson,Son & Co., N. Y__ 55,449 35
New Rochelle T.Co., N. R. 25,625 00
•
Nor.SideS.B.,New Rochelle a5,050 00
• For $25,000 bonds. a For $5,000 bonds.
Maturity on May 1 as follows: $3,000 yearly from 1915
to 1931 inclusive and $2,000 in 1932.
-Bonds Defeated.
Newton, Jasper County, Iowa.
--Returns indicate that a proposition to issue $35,000 gas
plant bonds met with defeat at an election held March 29.
-Bond 011ering.-Proposals will be
New York State.
received until 12 m. April 29 by Charles H. Gaus, State
Comptroller,at his office in Albany,for $10,000,000 3% gold
coupon or registered canal improvement bonds. Date Jan. 1
1909. Interest semi-annual. Maturity Jan. 1 1959. Bonds
are exempt from taxation. Certified check, cash or bank
draft for 2% of bonds bid for, drawn on a bank or trust
company of Albany or New York City,and made payable
to the State Comptroller, is required. Purchaser to pay
accrued interest.
The official notice of this bond offering will be found among
the advertisements elsewhere in this Department.
-On March 3
1"Norton, Norton County, Kans.-Bond Sale.
$18,000 436% 20-30-year (optional) water-works-extension
bonds were purchased by the State School Fund at par.
Denomination $1,000. Date April 1 1909. Interest semiannual.
-Reports state that the three
-Bond Sale.
Norwood, Ohio.
issues of 432% 1-10-year (serial) bonds offered on April 5
and described in V. 88, p. 898, were awarded as follows:
$1.465 40 Ida Street sewer bonds to the Provident Savings Bank & Trust
Co. of Cincinnati.
1,247 57 Ross Avenue bonds to the German National Bank of Cincinnati.
3,379 94 Madison Road bonds to the First National Bank of Norwood.
IY0L.
LXXXVII1.
-We
Paris, Henry County, Tenn.
-Price Paid for Bonds.
-year
are informed that the price paid for the $40,000 5% 30
bonds awarded on March 22 to McCoy & Co. of Chicago
(V. 88, p. 898) was 104.31. Denomination $1,000. Date
April 1 1909. Interest semi-annual.
Pavo, Thomas County, Ga.-Price Paid for Bonds.
-Ws
are informed that the price paid for the $12,000 54 0 water7
works and school-building bonds disposed of on March 23
(V.88, p. 898) was par. Denomination $1,000. Date 1908.
Interest January. Maturity $1,000 yearly from 1915 to 1926
inclusive.
-Bond Sale.
-On March 30 $115,000
Poughkeepsie, N. Y.
4% 20-year registered bonds were disposed of to the Poughkeepsie Savings Bank of Poughkeepsie as follows: $25,000 at
100.42, $40,000 at 100.66 and $50,000 at 100.76. Denomination $1,000. Date March 1 1909. Interest semi-annual.
-On April 5 the $27,200
-Bond Sale.
Ravenna, Ohio.
/
43• 60 1-10-year (serial) coupon refunding bonds described
in V. 88, p. 783, were awarded, it is stated, to the Seeond
National Bank of Ravenna.
-A
Ray County (P. 0. Richmond), Mo.-Bonds Voted.
proposition to issue $25,000 5% poor-house-construction
bonds carried by a vote of 1,517 to 729 at an election held
March 6. Maturity "one and two years."
-Bond
Robeson County (P. 0. Lumberton), No. Caro.
-On April 5 E. H. Rollins & Sons of Boston were
Sale.
awarded the $25,000 5% 30-year coupon funding bonds
described in V. 88, p. 899, at 110.531 and accrued interest
-a basis of about 4.368%. A list of the bidders follows:
E. H. Rollins & Sons, Bost$27,632 751 A. B. Leach & Co., Chic_$26,542 50
A. J. Hood ec Co.. Detroit 27,500 00 S. A. Kean, Chicago... _ 26,225 00
Seasongood & Mayer, Cin. 27,334 50 W. R. Todd ec Co., Cin__ 25,521 00
Union S.B & Tr. Co., Cin__27,300 00 Western-German Bk., Ctn. 25,510 00
-Temporary Loan.
Rockport, Essex County, Mass.
A loan of $25,000 maturing in eight months has been negotiated, it is stated, with the Cape Ann National Bank at
3% discount and a premium of 50 cents.
St. Bernard School District No.4(P.0. Cincinnati), Ohio.
-The $35,000 4% school-improvement bonds
-Bond Sale.
described in V. 88, p. 899, were sold on April 2 to the Western-German Bank of Cincinnati at 102.76 and accrued interest. A list of the proposals received follows:
Western-German Bk., Cin.$35,966 00
R. Kieybolte Co., Inc.Cin. 35,927 50
Well, Roth & Co., Cincin_ 35,927 50
35,829 50
S. Kuhn & Sons, Cin
35,787 00
Citizens' Bank, St. Bern
Seasongood & Mayer, Cin. 35,735 75
Cen. Tr. & Safe D. Co.,Cin 335.703 50
A. Kleybolte & Co., Cin__ 35,700 00
Atlas Nat. Bk., Cincin___ 35,526 50
First Nat. Bank, Cleve_ _ _ 35,389 00
Prov. S. Bk.&Tr.Co., Cin. 35,262 50
Farson, Son & Co., Chia__ 35,012 50
Maturity on April 15 as follows: $2,000 in 1911 and $1,000
yearly from 1912 to 1944 inclusive.
-Bonds Voted.
St. Petersburg, Hillsboro County, Fla.
This city on March 23, by a vote of 190 "for" to 29 "against,"
the $75,000 5% 30
-year bonds
authorized the issuance of
mentioned in V. 88, p. 325.
Salamanca Union Free School District No. 4 (P. 0. Sala-Bond Sale.
-On
manca), Oattaraugus County, N. Y.
March 31 the $90,000 4% school-building bonds described
in V.88, p. 842, were sold to Adams & Co. of New York City
at 104.307. The following bids were received:
Adams & Co., New York_$93,877 00 First National Bk., Cleve392,601 00
W.N.Coler&Co., New York 93,716 00 First Nat. Bk., Salamanca 90,000 00
Dowd & Quigley, Salaman al0,131 99
Jos. Nelson & Co., Dunk_a10,205 00
a For $10,000 bonds.
-The $3,500 436% 30-year
,
-Bond Sale.
g, Oakley, Ohio.
A bid was also received from W. J. Hayes & Sons of Clevestreet bonds, V. 88, p. ;898, were sold on April 6 to the land. Maturity on Nov. 1 as follows: $2,000 yearly from
-a 1911 to 1920 inclusive, $3,000 yearly from 1921 to 1930 inBank of Oakley at 103.40 and accrued interest
Oakley
basis of about 4.298%. The following bids were received:
clusive and $4,000 yearly from 1931 to 1940 inclusive.
$3,619 00 Central Trust Co., Cin____$3,605 50
Oakley Bank, Oakley
-Bond Sale.
3.614 80 First Nat. Bank, Norwood_ 3,605 00
Shamokin, Northumberland County, Pa.
Seasongood & Mayer, Cin
-Bond Sale.
-Ira S. The $55,000 4% street-paving bonds offered on April 6
*Ocean City, Cape May County, N. J.
Miller & Co. of CleveChampion of Ocean City, has bought $5,000 fire-engine (V. 88, p. 784) were sold to Hayden, 102.334.
Denominaland for $56,284-the price thus being
bonds. Mr. Champion is City Treasurer.
Date May 1 1909. Interest semiUnion Free School District No. 1 (P. 0. Olean), tions $500 and $1,000. 11939, part being subject to call in
Olean
-Bond Sale.
-On April 5 the annual. Maturity May
Oattaraugus County, N. Y.
1914, 1919 and 1929. Bonds are free from
4% coupon or registered school bonds described in each of the years
$75,000
were bought by the First National Bank of State tax.
V. 88, p. 898,
-Bond Sale.
-LawSouth Sharon, Mercer County, Pa.
Cleveland at 100.65 and accrued interest. Following are
rence Barnum & Co. of Philadelphia have purchased $60,000
the bids:
bonds, it is stated, for $62,000
improvement
First Nat. Bank, Cleve__ _$75,487 50 Farson, Son & Co., N. Y_$75,067 50 43/9% 30-year
W.J. Hayes & Sons, Clev_ 75,817 50 N. W.Harris & Co., N. Y_ 75,060 75 -the price thus being 103.333.
Bxchange Nat. Bk., Olean 75,281 25
-Bond Sale.
-This city has
Stigler, Haskell County, Okla.
'Maturity $1,000 in 1915; $11,000 from 1919 to 1929 in- sold $17,000 school bonds recently voted.
from 1930 to 1944 inclusive and $3,000
clusive; $60,000
-On
-Bond Sale.
Swampscott, Essex County, Mass.
in 1945.
April 2 the $90,000 33/7 1-30-year (serial) gold coupon water
-On April 5 the $200,000 434%
Omaha, Neb.-Bond Sale.
899, were awarded to N. W.
bonds described in V. 88, p.
20-year coupon bonds described in V. 88, p. 898, were Harris & Co. of Boston at 101.577 and accrued interest
-a
awarded, it is stated, to the W. R. Compton Bond & Mort- basis of about 3.369%. Following are the bids:
gage Co. of St. Louis at 107.630.
N. W. Harris & Co., Boston_101.5771E. H. Rollins ec Sons, Boston 101.271
Blodget, Merritt & Co., Bos..101.52 Amer Banking
-Bonds Defeated.
--An Blake Bros. & Co., Boston_ _ _101.49 Graham, Moore Co., Boston_101.2211
Oneida, Madison County, N. Y.
& Co
101
election held April 5 resulted in the defeat of a proposition
-Bond Sale.
-We are inTacoma, Pierce County, Wash.
to issue $35,000 fire-house and $75,000 water bonds.
20-year "Tacoma Electric
-Bond Sale.
-An issue of formed by wire that the $300,000
Otsego, Allegan County, Mich.
bonds" described in V. 88, p. 643,
$10,000 water bonds voted on March 8 has been disposed Light and Power system N. W. Halsey & Co. of Chicago at
were sold on April 5 to
of to a local investor.
-a basis of about 4.12%.
105.15 for 43s
(P. 0. Palisades Park),
Palisades Park School District
-Bond Sale.
-R. J. EdTonkawa, Kay County, Okla.
-On April 3 the $6,000 wards of Oklahoma City has bought $18,500 electric-light,
Bergen County, N. J.
-Bond Sale.
building bonds described in $5,000 sewer and $13,500 water-works-extension 532% 20
-13-year (serial) coupon
5% 2
V. 88, p. 898, were awarded to the Closter National Bank of year bonds. Denomination $500. Date Jan, 11909. In-a basis of about terest semi-annually at the fiscal agency in New York City.
interest
Closter at 101.25 and accrued
4.80%. Following are the bids:
-On March 29 $100,000 4%
-Certificate Sale.
Troy, N. Y.
Gloster Nat. Bank, Closter_ _101.251Farson, Son & Co.. New York.100.05
awarded to H. W.Gordinier,
R.11. Grant & Co., New York.100.69 North. N.J.Tr. Co.. Edgew'ter100.00 certificates of indebtedness were
APR. 10 1909.,
THE CHRONICLE
City Comptroller, as trustee for the sinking funds, at 100.40.
Maturity October 19 1909.
Texarkana, Tex.
-Bond Sale.
-On April 2 the four issues
of 5% 5-40-year (optional) coupon bonds,aggregating $136,000, V. 88, p. 784, were awarded to Spitzer & Co.of Toledo
at 102.241 and accrued interest. Following are the bids:
Spitzer & Co., Toledo
a$130,048 00
Woodin, McNear & Moore, Chicago
a138,343 75
E. H. Rollins & Sons, Chicago
a137,723 00
McCoy & Co., Chicago
al37,510 00
Texarkana National Bank, Texarkana
137,360 00
Harris Trust & Savings Bank, Chicago (for $125,000 school bds.)a125,975 00
Thos. J. Bolger & Co., Chicago (for $125,000 bonds)
a125,511 00
a And accrued Interest.
These securities were registered by the State Comptroller
on March 27.
Vernon, Wilbarger County, Tex.
-The
-Bonds Registered.
following 4% 3
-25-year (optional) bonds were registered by
the State Comptroller on March 23: $15,000 for waterworks, $10,000 for a school building, $10,000 for sewers and
$5,000 for a city hall.
Verona School District (P. 0. Verona), Essex County,
N. J.
-Bonds Defeated.
-An issue of $4,000 school-site bonds
was defeated by a vote of 15 "for" to 37 "against" at an
election held April 5.
Vinita School District (P. 0. Vinita), Craig County, Okla.
-Bond Election.
-Reports state that it has been decided to
call an election to vote on a proposition to issue $60,000
bonds.
Wappinger Falls Union Free School District No. 2 (P. 0.
Wappinger Falls), Dutchess County, N. Y.
-Bond Sale.
On April 1 the Wappinger Savings Bank of Wappinger Falls
building bonds at par for 3.90s. Dewas awarded $5,000
nomination $1,000. Date May 11909. Interest Nov. 1.
Warren, Trumbull County, Ohio.
-Bond 011ering.-Proposals will be received until 12 m. to-day (April 10) by Chas.
B. Selby, City Auditor, for $5,000 5% coupon storm-sewer
bonds. Authority, Section 100 of Municipal Code. Denomination $250. Date March 1 1909. Interest semiannually at the Union National Bank in Warren. Maturity $500 each six months from March 1 1910 to Sept. 1
1914 inclusive. Bonds are exempt from all taxation. Cer-
961
tified check for 5% of bonds bid for, payable to the City
Treasurer, is required. Purchaser to pay accrued interest.
Washington Independent School District (P. 0. Washington), Washington County, Iowa.
-On April 5
-Bond Sale.
the Wm. R. Compton Bond Sc Mortgage Co. of St. Louis was
awarded the $10,000 43% 1-10-year (serial) coupon refunding bonds described in V. 88, p. 899, at 101.53 and accrued
interest
-a basis of about 4.186%.
Watervliet, Albany County, N. Y.
-Bond Offering.
Thomas F. Mahar, Chamberlain, is offering at public auction
at 12 m. April 12 the $70,000 432% funding bonds mentioned
in V. 88, p. 705. Authority Chapter 117 of the Laws of
1909. Denomination $1,000. Date April 15 1909. Interest Jan. 15 and July 15. Maturity $2,000 yearly on April 15
from 1914 to 1948 inclusive. Delivery of bonds April 15 1909.
Weehawken Township School District, Hudson County,
N. J.
-Bond Sale.
-On April 3 the $55,000 4% 25
-year
coupon bonds described in V. 88, p. 900, were bought by
H. L. Crawford & Co. of New York City at 101.273 and accrued interest
-a basis of about 3.92%. Following is a list
of the bids received:
H. L. Crawford & Co
$55,700 151 R. M Grant & Co
John D. Everitt & Co____ 55,317 35IFarson, Son & Co
$55,033 00
53,350 00
The above bidders are all of New York City.
Wendelin Special School District, Ohio.
-Bond Sale.
-On
March 27 $3,200 5% school bonds were awarded to the Fort
Recovery Banking Co. at 104.703 and accrued interest. Following is a list of the bidders:
Fort Recovery Bkg. Co____$3,350 501 Commercial Bank
St. Henry Bank, St. Henry 3,304 50 Citizens' Bank
First Nat. Bank, Celina___ 3,298 80 W.J. Hayes & Sons, Clev
$3,245 00
3,210 00
3,207 09
A bid was also received from the People's Bank.
Authority Sections 3991 and 3992 of the Revised Statutes.
Denominations $200, $300, $500, $600 and $700. Date
April 20 1909. Interest annually at the office of the District
Treasurer. Maturity $200 on April 20 1910, $500 on April
20 1911, $600 on April 20 in each of the years 1912 and 1913,
$700 on April 20 1914, $300 on April 20 1915 and $300 on
Oct. 20 1915.
West Hoboken School District, Hudson County, N. J.
Price Paid for Bonds.
-The price paid for the $50,000 4%
NEW LOANS.
NEW LOANS.
10150,000
City of Hoboken, N. J,
PLAYGROUND BONDS
Public, notice is hereby given, in accordance
with a resolution of the Council of the City
of Hoboken, passed on the 29th day of March,
1909, and duly approved on the 29th day of
March, 1009, that sealed proposals for the purchase of bonds of the City of iloboken, to be
known as "Playground Bonds" In the amount of
fifty thousand dollars ($50,000), to bear interest
at the rate of four per cent (4 per cent) per annum,
payable semi-annually, and to run for a period of
thirty years from the date of issue, will be received at the regular meeting of the Council to be
held
Wednesday Afternoon Apr. 28,'09
AT 4 O'CLOCK.
Bids will be received for one or more, or all; of
said bonds, which shall be of the denomination
of $1,000 each, to run consecutively from 1 to 50,
both inclusive, to be registered or coupon, at the
option of the bidder.
All proposals must be directed to the Mayor
and Council of the City of Hoboken, N. J., and
shall be accompanied by a certiled check or cash
for 5 per cent of the amount of their bid.
The Mayor and Council of the City of Hoboken
reserve tile right to reject any or all bids if deemed
In the interest of the city so to do.
By order of tile Council.
JAMES 11. LONDRIGAN,
City Clerk.
STA. •
'1
-
MO NEW 10
()RIK
CANAL IMPROVEMENT GOLD BONDS
EXEMPT FROM TAXATION
Dated January 1, 1909
Due January 1, 1969
$10,000,000
In Coupon or Registered Form
Will be Sold Thursday, April 29, 1909,
AT 12 O'CLOCK NOON
At the State Comptroller's Office, Albany,N.Y.
Blodget, Merritt & Co.
BANKERS
STATE, CITY
AND
RAILROAD BONDS
6o State Street, - Boston
30 Pine Street, - New York
Established 1SM).
H. C. Speer & Sons
Co
Pint Nat. Bank Building,Chleagu
CITY COUNTY
AND TOWNSHIP
BONDS.
; R7 These bonds bear interest at the rate of three per cent per annum, payable
semi-annually, and by operation of special laws will practically net four per cent
interest when owned by insurance companies, trust companies and savings banks
in the State of New York.
No bids will be accepted for less than the par value of the bonds nor unless
accompanied by a deposit of money or by a certified check or bank draft upon a
solvent bank or trust company of the cities of Albany or New York, payable
to the order of the 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 enclosed in a sealed envelope directed to
the "Comptroller of the State of New York, Albany."
All bids will include accrued interest.
The Comptroller reserves the right to reject any or all bids.
For further particulars address CHARLES H. GAUS, State Comptroller,
Albany, N. Y.
Dated Albany, April 6, 1909.
962
THE CHRONICLE
[VoL. Lxxxvni.
-year (serial) coupon (with privilege of registration)
145
school-building bonds sold on Feb. 10 to O'Connor & Kahler
of New York City (V. 88, p. 900) was 101.166. This is on a
basis of about 3.885%.
-Bond Election.
West Point, Clay County, Miss.
-An election will be held April 12 to vote on a proposition to issue
$17,500 city-hall bonds.
-Bond Sale.
-The $35,000 5% 10White Plains, N. Y.
year current-indebtedness bonds described in V. 88, p. 706,
were bought on April 5 by the First National Bank of
Cleveland at 107.20-a basis of about 4.115%.
-There were no bidders for the $27,000
Bonds Not Sold.
-year water and the $12,000 25-year sewer 4% bonds
30
offered on the same day.
Whiting, Lake County, Ind.
-Bond Sale.
-This city on
April 5 disposed of $25,000 5% park-improvement bonds to
the Farwell Trust Co. of Chicago at 109.767. A list of the
bidders follows:
$97,600 on Oct. 1 1932 and $22,450 on April 1 1933. Certified check for 2% of bonds bid for, made payable to "The
Mayor and Council of Wilmington." is required. Purchaser to pay accrued interest. Delivery of bonds April 28
1909.
The official notice of these bond offeringswillbefoundamong
the advertisements elsewhere in this Department.
In addition to the above, proposals will also be received
until 12 m. April 28 by the Clerk of the City Council for
$100,000 4% gold water-works bonds. Maturity on May 1
as follows: $25,000 in 1921, $60,000 in 1922 and $15,000
in 1923. Bid to be made on form furnished by the United
States Mortgage & Trust Co.of New York City or by William
P. White, Chairman Finance Committee.
Winlock,Lewis County, Wash.
-Bonds Not Sold.
-No bids
Farwell Trust Co., Chic _$27.441 75 W.J. Hayes & Sons. Clev_$26,722 50 were received for the $15,000 water bonds offered (V. 88, p.
Breed & Harrison, Cin___ 27,127 00 First Nat. Bk., Hammond 26,687 50 398) on March 31.
Marion Tr. Co., Indianap_ 27,101 00 McCoy & Co., Chicago. __ 26,525 00
W.R. Todd & Co., Cin__ _ 27,011 00 Seasongood & Mayer, Chi_ 26,384 00
Woodbine School District (P. 0. Woodbine), Harrison
Miller, Adams & Co., Ind_ 26,890 00 N. W. Halsey & Co., Chic_ 26,137 50
-The $33,000 5-10-year (opR. Kieybolte Co. Inc.,Ch_ 26,750 00 S. A. Kean, Chicago
-Bond Sale.
26,000 00 County, Iowa.
Denomination $500. Date April 1 1909. Interest Jan. tional) building bonds for which bids were advertised until
April 1 (V. 88, p. 842) were awarded to the Security Trust
and July. Maturity from July 1 1910 to 1934 inclusive.
Co. of St. Paul as 43is at par less $40 for legal expenses.
Wilkinsburg, Allegheny County,Pa.
-Correction.
-We are The bids received were as follows:
advised that the amount of 4% high-school bonds disposed
Security Trust Co., St. Paul-Par, less $40 for expenses for 4gs.
of on March 20 to N. W. Halsey & Co. of Philadelphia was
John Nuveen Sc Co., Chicago-Par, less $985 for 4s.
$102,000 and not $100,000 as reported in V. 88, p. 900.
Wm. R. Compton Bond & Mortgage Co., St. Louis-$33,337 for 43.15
expenses, for 4s.
The price paid was 101.293. Denomination $1,000. Date and par, less $650 forSons. St. Louis-$33,475 for 58; par, less $1.100 for
A. G. Edwards &
Nov. 16 1908. Interest semi-annual. Maturity Nov. 16 expenses, for 48, and par, less $200 for expenses, for 4 Yis.
Fermi, Son & Co., Chicago-Par, less $1,310 for expenses, for 48.
1938.
Spitzer & Co., Toledo-Par, less $1,980 for expenses, for 45.
Harris Trust & Savings Bank. Chicago-Par, less $100 for expenses.
Wilmington, Del.
-Bond Offerings.
-Proposals will be
for 4 Asreceived until 12 m. April 21 by Howard D. Ross, City
A. J. Hood Sc Co., Detrolt-$33,050 for 4;0.
Woodbine Savings Bank, Woodbine
-Par, for 434s.
Treasurer, for $250,000 street and sewer-improvement
Chas. H. Coffin, Chicago-333,510 for 55.
S. A. Kean. ChICag0-433,528 for 5s.
and $25,000 park-system-extension and improvement 4%
Denomination $1,000. Date June 1 1909. Interest
Sinking Fund Loan bonds. Denomination $50 or multiples semi-annual.
thereof. Date April 21 1909. Interest April 1 and Oct. 1.
Wonnlesburg School District (P. 0. Wormlesburg), CumMaturity $60,200 on Oct. 1 1931; $94,750 on April 1 1932; berland County, Pa.
-Bonds Awarded in Part.
-We are ad-
NEW LOANS.
NEW LOANS.
44,2745,000
Hudson County, New Jersey, Gold Bonds WILMINGTON,
CITY OF
DEL.
$1,000,000 4% 50-Year Park Bonds.
SINKING FUND LOAN
800,000 4% 40-Year Court House Bonds. Sealed bids will be received for $275,000
Sinking Fund Loan of Wilmington,
Delaware.
By virtue of two separate resolutions of the Board of Chosen Freeholders of the County of Hudson until 12 M., WEDNESDAY, APRIL 21st, 1909.
passed at a meeting held Thursday, April 1. 1909, sealed bids and proposals will be received and Bonds will date from April 21st, 1909, in deopened at a meeting of said Board to be held in the Court House, Jersey City. N. 3., on
nominations of fifty dollars or multiples thereof,
and bear Interest at the rate of four per cent
payable semi-annually on April 1st and October
1st, and mature as follows: $60,200 on October
1st, 1931; $94,750 on April 1st, 1932; $97,600
on October 1st, 1932, and $22,450 on April 1st,
1933; $250,000 of said issue being for the use of
for the sale of bonds for the following improvements, viz.:
Department, to be expended
the
(1) $1 000.000 Hudson County Park Bonds, to be isueds under authority of an Act of the Legis- for Street and Sewer
the curbing, guttering. grading, widening,
entitled "An Act to establish public parks in certain counties of
lature of the State of New Jersey,
paving and Improving of streets and avenues
this State and to regulate the same," approved May 6th, 1902
sewers and conduits; $25,000
(2) $800.000 for the building of the New Court House, issued under authority of an Act of the and the building of
Legislature of the State of New Jersey, entitled "An Act to facilitate the acquirement of lands and to be used by the Board of Park Commissioners
the Park System of
the erection of buildings for county purposes," approved March 19th, 1901, and the acts amendatory to pay for the extension of for the improvement
the City of Wilmington, and
thereof and supplemental thereto.
of the parks of said City.
Both of the above issues to bear interest at four (4) per centum per annum, payable semi-annually,
All proposals must be accompanied by certified
and to bear date the first day of May.1909. Said bonds to be coupon bonds, with the privilege of
check, payable to the order of ''The Mayor and
registration both as to principal and Interest.
two per cent
The $1,000,000 Issue to run for a period of fifty years from date, and will have the certification Councll of Wilmington," forand the same of the
for,
to be
of the U. S. Mortgage & Trust Company of New York City, and the legality thereof approved by amount of bonds bid falls to accept
and pay for
forfeited if the bidder
Messrs. Delafield & Longfellow. of New York City. The $800,000 issue will run fora period of forty
bonds awarded.
years from date.
The successful bidder or bidders will be reEach bid must be accompanied by a bank or certified check upon some National Bank or Trust
the
with accrued
Company, drawn to the order of STEPHEN M. EGAN. COUNTY COLLECTOR, or cash to the quired to settle for 21st, bonds, at
1909.
or before
interest from April
amount of one per cent (1%) of bid.
1909.
Each proposal or bid must be enclosed in a sealed envelope, endorsed "Proposals for Bonds." and 12 o'clock M., Aprll 28th,and all
bids Is reserved.
The right to reject any
to be accompanied by the bank or certified check or cash as aforesaid. Bidders may bid for the whole
Address all bids In sealed envelopes to Howard
or any part of each issue thereof.
The Board reserves the right to reject any or all bids if it deems it for the best interests of the D. Ross. City Treasurer, marked "Proposals for
Sinking Fund Loan."
county so to do.
HOWARD D. ROSS,
(Attest)
WALTER O'MARA, Clerk.
City Treasurer.
Wilmington, Del.
WEDNESDAY, APRIL 21, 1909
at 4 o'clock P. M.
Cuban Securities
A SPECIALTY
FRANCKE, THOMPSON & ROBE
Members N.Y. Stock Exchange
43 Exchange Place
Telephone 6444 Hanover
BRANCH OFFICE
Bristol Building, 3th Ave. and 42d Ns
Poloohons1568 Bryant
01250,000
HUNT, SALTONSTALL & CO., ATLANTIC CITY,N.J.,
Members of New York Stock Exchange
Investment Securities
$200000
BLACKSTAFF & CO. City of Reading, Pennsylvania
INVESTMENTS
1332 Walnut Street
PHILADELPHIA
UST OF SPECIALTIES ON REPAST
Public Park Bonds
Bids Received until 12 o'clock M. April 10.1909.
The City of Atlantic) City will receive sealed
proposals for $250,000 Public) Park Bonds in
denominations of $1,000 each, dated July I,
1908, maturing July 1, 1943, with interest at
60 STATE STREET
4.54 per cent per annum, payable semi-annually
at the Hanover National Bank. New York City.
BOSTON
Bonds will be delivered to the purchaser on
or about April 20, 1909.
Every bidder, as a precedent to the reception
or consideration of his proposal, shall deposit
with the City Comptroller $5,000 in money, or
certified checks for that amount, drawn to the
order of said Comptroller.
The legality of these bonds has been approved
by Dillon & Hubbard, of New York, whose certificate as to legality will accompany the bonds
4 per cent Refunding Bonds
Legal for Massachusetts. New York and Penn- when delivered, without cost to the purchaser.
sylvania. Maturing $40,000 April 1. 1914. mg. The bonds will be engraved under the supervision
of and certified as to their genuineness by the
1924, 1929, 1934,
Columbia Trust Company, of New York.
Circular letter giving full particulars and blank
term of proposal forwarded on application to
CI
Irt
a
l
A. H. HESTON.
Comptroller.
431 CHESTNUT ST.
PHILADELPHIA. PA
4SL CC).
Arn. 10 1909.j
THE CHRONICLE
vised that half of the $4,500 4M% 10-30-year (optional)
school-building and improvement bonds voted on Feb. 16
(V. 88, P. 524) have been sold to local investors.
Worthington Independent School District No. 5 (P. 0.
Worthington), Nobles County, Minn.
-Bond Offering.
Proposals will be received until 8 p. in. April 12 by G. W.
Patterson, President School Board, for $33,000 4% refunding
bonds. Authority Chapter 10, and Sub-divisions 4 and 5,
Section 784, Revised Laws of 1905. Denomination $1,090.
Date April 11909. Interest semi-annual. Maturity April 1
1924. Certified check for $500 is required.
Wyoming County (P. 0. Pineville), W. Va.-Bonds Deleated.-A proposition to issue $50,000 6% bonds was defeated at an election held March 30.
Canada,its Provinces and Municipalities.
Alameda School District No. 330, Sask.--Debenture
Offering.-Proposals will be received until 10 o'clock April 20
by E. B. Truscott, Secretary-Treasurer, for $14,000 debentures. Rate of interest to be named in bid. Maturity part
yearly on Nov. 1 from 1910 to 1929 inclusive.
Athens, Ont.-Debenture Ofiering.-Proposals will be received up to April 16 for $8,574 82 5% debentures. G. F.
Donnelley Is Village Clerk.
-On April 2 the $12,000
Barrie, Ont.-Debenture Sale.
44% light-plant-extension debentures described in V. 88,
p. 586, were bought by Wm. C. Brent of Toronto at 102.991
and accrued interest. Fourteen bids in all were received.
Among these were the following:
Wm. C. Brent, Toronto_- _'$12.350
'12,312
Mercantile Trust Co
Hanson Bros., Montreal_ _ _ 12,275
H. O'Hara & Co., Toronto_ *12,268
Steiner, Dunlop & Co.. Tor_•$12,264
Ontario Sec. Co., Tor
*12,217
G. A. Stimson & Co., Tor
'12,215
Investment Securities Co_ _ _ •12,175
• And accrued interest.
Maturity part yearly on Jan. 16 for twenty years.
Belvidere School District No. 2248, Sask.-Debenture
-An issue of $1,500 5% school-house debentures
Sale.
was disposed of about March 1 to Nay & James of Regina
at 100.25. Denomination $150. Interest April 1. Mat
NEW LOANS.
963
turity part on April 1 in each of the years 1910, 1911 and
1912.
Berlin, Ont.-Debenture Sale.
-According to reports,$44,163 5% debentures have been awarded to W. C. Brent of
Toronto.
Birtle, Man.
-Debenture Sale.
-The following debentures
were sold during March to the Dominion Securities Corporation, Ltd., of Toronto:
..4
*3,000 6% town-hall debentures due part yearly for twenty years.
5,000 4% 20-year telephone debentures.
Brockville, Ont.-Debenture Sale.
-On April 6 the five
issues of 4% and 432% coupon debentures aggregating
$25,310 80, described in V. 88, p. 901, were awarded to the
British-American Security Co. at 100.61 and accrued interest.
Following are the bids:
British- American Sec. Co_$25,465 00f AemIllus Jarvis dc Co.,Tor.425,069 OS
G. A. Stimson & Co., Tor_ 25,353 00 1 W.A.MacKenzie&Co.,Tor. 25,058 00
Wm. C. Brent, Toronto__ 25,329 00 Ontario Secur. Co., Tor__ 25,017 00
Hanson Bros., Montreal_.. 25.312 53 Dominion Securities Corp.,
Wood, Cundy & Co., Tor_ 25,200 00
Ltd., Toronto
24,900 00
Stelner,Dunlop&Co.,Tor__ 25,145 00 B. C. Matthews & Co
24,776 oe
Chelton School District, Sask.-Debenture Sale.
-H.
O'Hara & Co. of Toronto have purchased, it is stated, $1,200
6% 10-year debentures.
Fort Frances, Ont.-Debenture Sale.
-During March G. A.
Stimson & Co. of Toronto purchased $25,000 5% water-works
debentures dated April 1909 and maturing part yearly for
30 years.
Haileybury, Ont.-Debenture Sale.
-G. A. Stimson & Co.
of Toronto were the successful bidders for two issues of 51
fire-hall and sewerage bonds, aggregating $11,000, sold
durinff March. One issue matures part yearly for 10 years,
whilee'
the other matures part yearly for ,30 years. They are
dated May 1909.
Hudson Township, Ont.-Debenture Sale.
-The Ontario
Securities Corporation of Toronto has purchased $5,000 5%
20-year road-improvement debentures and $2,600 5% 20
year school debentures.
Kelowna, B. C.
-Correction.-----We are advised that the
amount of debentures recently awarded to the Dominion
Securities Corporation, Ltd., of Toronto, aggregates $56,500
INVESTMENTS.
MISCELLANEOUS.
$100,000
Charles M. Smith & Co.
Albert Kleybolte & Co.,
WILMINGTON, DEL,
CORPORATION AND
409 Walnut Street,
MUNICIPAL BONDS
CINCINNATI, 0.
FIRST NATIONAL BANK BUILDING
CHICAGO
Municipal,
MUNICIPAL AND RAILROAD
and High-Grade Public, Service:
Securities
4% BONDS
$100,000 Wilmington, Delaware, Water Works
four per tent Gold Bonds, maturing ;25.000
May 1 1921, $60,000 May 1 1922 and $15,000
May 1 1923, will be sold at 12 o'clock noon.
April 28th, 1909, at office of Clerk of Council.
Wilmington, Delaware. Bids must be on forms
which can be had on application to United States.
Mortgage & Trust Company of New York or to
undersigned.
WILLIAM P. WHITE,
Chairman, Finance Committee,
Wilmington, Delaware.
BONDS.
LIST ON APPLICATION
State,
County,
Correspondence Solicited
SEASONGOOD & MA.YER
Mercantile Library Building
CINCINNATI
Perry, Coffin & Burr,
INVESTMENT BONDS. JOHN H. WATKINS
MUNICIPAL
60 State Street,
NATIONAL LICHT,
HEAT & POWER CO.
GUARANTEED
BONDS
All Issues
AND
RAILROAD BONDS
BOSTON.
No. 2 WALL STREET
CHELTEN TRUST COMPANY
5 614 Germantown Avenue,
Philadelphia, Pa.
Solicits the business of Corporations and Municipalities desiring the services of a Registrar, Trustee
or Financial Agent.
NEW YORK
McCOY MacDonald,
& COMPANY
Formerly
A. H. Bickmore &
CO.
)
BANKERS
30 Pine Street,
Now York
McCoy & Co.
Municipal and
Corporation Bonds
THE AMERICAN MEG CO.
181 La Salle Street, - Chicago
MANILA, SISAL AND JUTE
CORDAGE.
Wilkinson, Reckitt, Williams & Co.
CERTIFIED PUBLIC ACCOUNTANTS
NEW YORK
CHICAGO
PHILADELPHIA
52 Broadway
Marquette Bldg.
MutualELife Bldg.
65 Wall Street,
-
New York
WEBB & Co.
)
INVZSTMICNT BEOUEITIBB.
LONDON, ENGLAND
Leadenhall
74 BROADWAY, NEW YORE
THE CHRONICLE
964
and not $58,500,as reported in V. 88, p. 707. They carry
6% interest and mature in 30 years.
-Debenture Sale.
Ladysmith, B. 0.
-An issue of $25,000
5% electric-light debentures was purchased by G. A. Stimson & Co. of Toronto during the month of March. Maturity
June,1933.
-Debenture Sale.
Liverpool, N. S.
-An issue of $9,000
4%% debentures due in 1937 has been purchased, it is stated,
by W. C. Brent of Toronto.
Manito School District, Man.
-Debenture Sale.
-During
March this district sold $1,200 6% school-building bonds
dated March 1909 and due part yearly for twelve years.
G. A. Stimson & Co. of Toronto were the successful bidders.
jr Manitoba (Province of).
-Debenture Offering.
-Proposals
willibe received until May 1 by Hugh Armstrong, Provincial
Treasurer, for $200,000 Provincial, $50,000 Western Judicial
District and $12,000 Northern Judicial District 4% debentures. Denomination "not less than $500." Interest
semi-annual. Maturity in 1949.
rEMoose Jaw, Sask.-Debentures Voted and Sold.
-The
$38,000 4M% 40-year sewer and water-extension debentures
mentioned in V. 88, p. 844, were authorized by a vote of
124rfor" to 16 "against" at the election held March 29.
These debentures, we are informed, have been awarded to
Nay & James of Regina for $38,027 45, the price thus being
100.072.
New Westminster, B. 0.
-Debenture Sale.
-The Royal
Securities Corporation Ltd., of Halifax, has purchased $60,local-improvement debentures.
000 5% 20-year
f'4 1.1otre Dame de Grace, Que.-Debenture Sale.
-The Royal
Securities Corporation, Ltd., of Montreal has been awarded
$73,000 43/7 local-improvement debentures dated Nov. 1
0
1908 and due Nov. 1 1948.
Robson School District, Sask.-Debenture Sale.
--An issue
of $1,200 6%% school-building bonds was disposed of last
month to G. A.Stimson & Co. of Toronto. Date March 1909.
• Maturity part yearly for 20 years.
St. Romerald d'Etchemin, Que.-Debentures Voted.
-The
election held Feb. 15 resulted in a vote of 150 "for" to 1
r
[VoL. Lxxxvin.
"against" the issuance of the $55,000 5% 30
-year sewer debentures mentioned in V. 88, p. 466.
Springhill, Cumberland County, N. S.
-Description of
-The three issues of debentures, aggregating
Debentures.
$37,000, awarded to the Royal Securities Corporation, Ltd.,
of Halifax (V. 88, p. 844), answer the following description:
$20,000 43i% water-works debentures dated April 6 1908 and due Apr. 6
10,000 4% local-Improvement debentures dated Nov. 10 1906 and due
Nov. 10 1936.
7.000 4% local-improvement debentures dated July 1 1908 and due
July 1 1928.
Denomination $1,000. Interest semi-annually at Springhill. Total debt, including this issue, $174,000. Assessed
valuation $810,590.
Swift Current, Sask.-Debenture 011ering.-Further details are at hand relative to the offering on April 15 of the
$12,000 6% 20-year coupon public-improvement and fireprotection debentures mentioned in V.88, p. 844. Proposals
for these debentures will be received until 12 m. on that day
by G. W. Billbrough, Secretary-Treasurer. Date May 1
1909. Interest payable at the Northern Bank of Canada in
Swift Current.
Toronto, Ont.-Proposed Bond Issue.
-Reports state that
Mayor Oliver and City Treasurer Coady will leave about
April 12 for London, Eng., where they propose to sell
$6,000,000 city bonds. Proceeds of the sale will be used
for such works as the electric-power-distribution plant,
trunk sewer, filtration plant, water-works extension, &c.
Wellesley Township (P.0.'St. Clement),Ont.-Debenture
-On April 1 the $4,750 43% gold drainage debentures
Sale.
described in V. 88, p. 786, were awarded to the Ontario
Government at 103.527 and accrued_interest. • The following
bids were received: Of..',1•
Go nlopmect .
D uvern ec n o
•$4,917 55 W. A. MacKenzie & Co.."
,Tor. '4,801 00
Steiner,
.$4,725 00
Toronto
A. E. Ames & Co., Toronto *4,789 00 Dominion Securities CorWm. C. Brent, Toronto._ "4,763 50
poration, Ltd., Toronto '4,713 00
G. A. Stimson & Co., Tor_ '4,761,00 II. O'Hira &
Toronto "4,695 00
Ontario Securities Co.,
0. A. Kennedy 6103., Mon;
Co.,
Ltd.. Toronto
•
4.75700 „Itreal,,on a basis of
414%7.
• And accrued interest.
Maturity part yearly on Nov. 18 from11909 to 1923 inelusive.
MISCELLANEOUS.
TRUST COMPANIES.
OFFICE OF THE
ATLANTIC MUTUAL INSURANCE COMPANY.
New York, January 21st. 1909.
The Trustees, in conformity With the Charter of the Company, submit the following statementof Us alfalfa
on the 31st of December. 1908.
Premiums on Marine Risks from 1st January. 1908, to 31st December, 1908
33,307,807 24
Premiums on Policies not marked off 1st January, 1908
743,389 01
Manhattan
Trust
Total Marine Premiums--------------------------------------------------------34,051,196 25
Premiums marked off from 1st January, 1908. to 31st December, 1908
Interest received during the year
Rent less Taxes and Expenses
33,333.483 68
$440,855 61
Losses paid during the year which were estimated In 1907
and previous years
$420,655 46
Losses occurred, estimated and paid in 1908
1,274.822 22 $1,695,477 68
Less Salvages
$279,988 33
Re-insurances
199,555 37
479,543 70
31,215,933 98
Returns of Premiums
Expenses, including officers' salaries and clerks' compensation,stationery,
newspapers, advertisements, etc
$344,266 85
LIABILITIES.
Estimated Losses and Losses Unsettled
$2.310,433 00
Premiums on Unterminated Risks..
717.71217
0
Certificates of Profits and Interest
Unpaid
260,822 35
Return Premiums Unpaid
121,473 65
Certificates of Profits Ordered Redeemed, Withheld for Unpaid
Premiums
22,339 35
Certificates of Profits Outstanding
Premium notes and Bills Receivable 1,377,905 06
7,363,410 00
Real Estate Reserve Fund__-Cash in the hands of European
270.000 00
Bankers to pay losses under poli399,031 95
cies payable in foreign countries_
429,950 18
Cash in Bank
$12,824.105 23
Aggregating
$11,066,191 05
A dividend of interest of Six per cent on the outstanding certificates of profits will be paid to the
holders thereof, or their legal representatives, on and after Tuesday the second of February next.
The outstanding certificates of the issue of 1903 will be redeemed and paid to the holders thereof,
or their legal representatives, on and after Tuesday the second of February next,from which date all
interest thereon will cease. The certificates to be produced at the time of payment and canceled.
A dividend of Forty per cent is declared on the net earned premiums of the Company for the year
ending 31st December. 1908. for which, upon application, certificates will be issued on and after
Tuesday the fourth of May next.
By order of the Board.
G. STANTON FLOYD-JONES, Secretary.
TRUSTEES.
HERBERT L. GRIGGS,
GUSTAV AMSINOS,
NICHOLAS F. PALMER.
CLEMENT A. GRISCOM,
FRANCIS M. BACON.
HENRY PARISH,
ANSON W. HARD,
JOHN N. BEACH,
DALLAS B. PRATT,
WILLIAM B. BOULTON,
LEWIS CASS LEDYARD,
GEORGE W. QUINTARD,
VERNON H. BROWN,
FRANCIS H. LEGGETT,
A. A. RAVEN,
WALDRON P. BROWN,
CHARLES D. LEVERICH.
JOHN L. RIKER,
JOHN CLAFLIN,
LEANDER N. LOVELL,
DOUGLAS ROBINSON,
GEORGE 0. CLARK.
GEORGE H. MACY,
GUSTAV H. SCHWAB.
CLEVELAND H. DODGE,
CHARLES H. MARSHALL.
WILLIAM SLOANE.
RNELIUS ELDERT.
II. MOORE,
1:4A0 STERN,
W. H.
D
IMAM.
WILLIAM A. STREET,
A. A. RAVEN, President.
CORNELIUS ELDERT, Vice-President.
SANFORD E. COBB, 2d Vice-President.
CHARLES E. FAY, 3d Vice-President.
JOHN 11 JONES STEWART,4th Vice-President
20
Wall Street
Corner Nassau
$51,930 45
ASSETS.
United States & State of New York
Stock, City, Bank and other Se$5,442,792 00
curities
Special deposits In Banks &TrustCos. 800,000 00
Real Estate cor. Wall & WilliamSts..
& Exchange Place_$4,299,426 04
Other Real Estate &
claims due the com75,000 00 4,374,426 04
pany
Aggregating
Company
3307,823 39
142,032 22
NEW YORK
UNITED STATES
MORTGAGE & TRUST
COMPANY
NEW YORK
CAPITAL,
$2,000,000.00
SURPLUS,
$4,000,000.00
Invites Personal and Business
Accounts. Acts as Trustee, Executor, Administrator, Guardian and in All Fiduciary
Capacities. Certifies Muni.
sipal and Corporation Bonds
55 Cedar St.
73rd St.& irway
135th St. & 8th Ave
@FedFRASER